1.0.0.3 false EARNINGS PER SHARE false 1 $ false false 2 Notes to Condensed Consolidated Financial Statements 0 sre_NotesToConsolidatedFinancialStatementsAbstract sre false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false No definition available. false 3 Earnings Per Share [Text Block] 1 us-gaap_EarningsPerShareTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <HTML><HEAD><META content="text/html; charset=utf-8" /></HEAD><BODY><DIV>EARNINGS PER SHARE The following table provides the per share computations for our earnings for the three and six months ended June 30, 2009 and 2008. Basic EPS is calculated by dividing earnings attributable to common stock by the weighted-average number of common shares outstanding for the period. Diluted EPS includes the potential dilution of common stock equivalent shares that would occur if securities or other contracts to issue common stock were exercised or converted into common stock.</DIV><DIV><TABLE style="border-collapse: collapse; margin-top: 20px;"><TR><TD colspan="9" width="645" height="19" align="left" style="border-top: 1px solid #000000;">EARNINGS PER SHARE COMPUTATIONS</TD></TR><TR><TD colspan="9" width="645" height="19" align="left">(Dollars in millions, except per share amounts; shares in thousands)</TD></TR><TR><TD width="257" height="14" align="left"> </TD><TD colspan="4" width="194" height="14" align="center" style="border-bottom: 1px solid #000000;">Three months ended June 30,</TD><TD colspan="4" width="194" height="14" align="center" style="border-bottom: 1px solid #000000;">Six months ended June 30,</TD></TR><TR><TD width="257" height="14" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD colspan="2" width="97" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">2009 </TD><TD colspan="2" width="97" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">2008 </TD><TD colspan="2" width="97" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">2009 </TD><TD colspan="2" width="97" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">2008 </TD></TR><TR><TD width="257" height="16" align="left" style="border-top: 1px solid #000000;">Numerator:</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="75" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="75" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="75" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="75" height="16" align="left" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="257" height="16" align="left">    Earnings</TD><TD width="22" height="16" align="left">$</TD><TD width="75" height="16" align="right"> 198 </TD><TD width="22" height="16" align="left">$</TD><TD width="75" height="16" align="right"> 244 </TD><TD width="22" height="16" align="left">$</TD><TD width="75" height="16" align="right"> 514 </TD><TD width="22" height="16" align="left">$</TD><TD width="75" height="16" align="right"> 486 </TD></TR><TR><TD width="257" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD></TR><TR><TD width="257" height="16" align="left">Denominator:</TD><TD width="22" height="16" align="center"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="center"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="center"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="center"> </TD><TD width="75" height="16" align="left"> </TD></TR><TR><TD width="257" height="16" align="left">    Weighted-average common shares</TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD></TR><TR><TD width="257" height="16" align="left">        outstanding for basic EPS</TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 242,718 </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 245,576 </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 242,245 </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 252,100 </TD></TR><TR><TD width="257" height="16" align="left">    Dilutive effect of stock options, restricted</TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD></TR><TR><TD width="257" height="16" align="left">        stock awards and restricted stock units</TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 4,372 </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 4,101 </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 3,794 </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 4,069 </TD></TR><TR><TD width="257" height="16" align="left">    Weighted-average common shares</TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD></TR><TR><TD width="257" height="16" align="left">        outstanding for diluted EPS</TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 247,090 </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 249,677 </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 246,039 </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 256,169 </TD></TR><TR><TD width="257" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD></TR><TR><TD width="257" height="16" align="left">Earnings per share:</TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="left"> </TD></TR><TR><TD width="257" height="16" align="left">    Basic</TD><TD width="22" height="16" align="left">$</TD><TD width="75" height="16" align="right"> 0.82 </TD><TD width="22" height="16" align="left">$</TD><TD width="75" height="16" align="right"> 0.99 </TD><TD width="22" height="16" align="left">$</TD><TD width="75" height="16" align="right"> 2.12 </TD><TD width="22" height="16" align="left">$</TD><TD width="75" height="16" align="right"> 1.93 </TD></TR><TR><TD width="257" height="16" align="left" style="border-bottom: 3px solid #969696;">    Diluted</TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #969696;">$</TD><TD width="75" height="16" align="right" style="border-bottom: 3px solid #969696;"> 0.80 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #969696;">$</TD><TD width="75" height="16" align="right" style="border-bottom: 3px solid #969696;"> 0.98 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #969696;">$</TD><TD width="75" height="16" align="right" style="border-bottom: 3px solid #969696;"> 2.09 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #969696;">$</TD><TD width="75" height="16" align="right" style="border-bottom: 3px solid #969696;"> 1.90 </TD></TR></TABLE></DIV><DIV>The dilution from common stock options is based on the treasury stock method. Under this method, proceeds based on the exercise price plus unearned compensation and windfall tax benefits or tax shortfalls, as defined by SFAS 123 (revised 2004), Share-Based Payment (SFAS 123(R)) (ASC 718), are assumed to be used to repurchase shares on the open market at the average market price for the period. The windfall tax benefits are tax deductions we would receive upon the assumed exercise of stock options in excess of the deferred income taxes we recorded related to the compensation expense on the stock options. Tax shortfalls occur when the assumed tax deductions are less than recorded deferred income taxes. The calculation excludes stock options for which the exercise price for common stock was greater than the average market price during the period. We had 1,506,783 and 801,684 of such stock options outstanding during the three months ended June 30, 2009 and 2008, respectively, and 2,250,061 and 1,485,542 of such stock options outstanding during the six months ended June 30, 2009 and 2008, respectively. We had 33,889 and 710,113 stock options outstanding during the three months ended June 30, 2009 and 2008, respectively, that were antidilutive because of the unearned compensation and windfall tax benefits included in the assumed proceeds under the treasury stock method and 862,027 such antidilutive stock options during the six months ended June 30, 2009. We had no such antidilutive stock options outstanding during the six months ended June 30, 2008. The dilution from unvested restricted stock awards and units is also based on the treasury stock method. Assumed proceeds equal to the unearned compensation and windfall tax benefits or tax shortfalls related to the awards, as defined by SFAS 123(R), are assumed to be used to repurchase shares on the open market at the average market price for the period. The windfall tax benefits or tax shortfalls are the difference between tax deductions we would receive upon the assumed vesting of restricted stock awards and units and the deferred income taxes we recorded related to the compensation expense on the restricted stock awards and units. We had no antidilutive restricted stock awards and units outstanding during the three months or six months ended June 30, 2009. We had 371,714 and 462,056 restricted stock awards and units outstanding that were antidilutive during the three months and six months ended June 30, 2008, respectively. </DIV></BODY></HTML> EARNINGS PER SHARE The following table provides the per share computations for our earnings for the three and six months ended June 30, 2009 and 2008. Basic false false No definition available. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true