1.0.0.3 false EARNINGS PER SHARE false 1 $ false false 2 Notes to 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 Disclosure 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 <div style="font-size:12pt"><p>NOTE 14. SEMPRA ENERGY - SHAREHOLDERS' EQUITY AND EARNINGS PER SHARE <br />The following table provides the per share computations for income from continuing operations for the years ended December 31. Basic earnings per common share (EPS) is calculated by dividing earnings applicable to common stock by the weighted-average number of common shares outstanding for the year. Diluted EPS includes the potential dilution of common stock equivalent shares that could occur if securities or other contracts to issue common stock were exercised or converted into common stock.</p><table style="border-collapse: collapse; margin-top: 20px;"><tr><td width="698" align="left" colspan="7" style="border-top: 1px solid #000000;" height="19"><b>EARNINGS PER SHARE COMPUTATIONS</b></td></tr><tr><td width="698" align="left" height="19" colspan="7"><i>(Dollars in millions, except per share amounts; shares in thousands)</i></td></tr><tr><td height="14" width="407" align="left"><b> </b></td><td width="291" align="center" colspan="6" style="border-bottom: 1px solid #000000;" height="14">Years ended December 31,</td></tr><tr><td height="14" style="border-bottom: 1px solid #000000;" align="left" width="407"> </td><td width="97" align="center" colspan="2" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" height="14">2009 </td><td width="97" align="center" colspan="2" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" height="14">2008(1)</td><td width="97" align="center" colspan="2" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" height="14">2007(1)</td></tr><tr><td height="16" style="border-top: 1px solid #000000;" align="left" width="407">Numerator:</td><td height="16" style="border-top: 1px solid #000000;" align="right" width="22"> </td><td height="16" style="border-top: 1px solid #000000;" align="left" width="75"> </td><td height="16" style="border-top: 1px solid #000000;" align="left" width="22"> </td><td height="16" style="border-top: 1px solid #000000;" align="left" width="75"> </td><td height="16" style="border-top: 1px solid #000000;" align="left" width="22"> </td><td height="16" style="border-top: 1px solid #000000;" align="left" width="75"> </td></tr><tr><td height="16" width="407" align="left">    Income from continuing operations</td><td height="16" width="22" align="right">$</td><td height="16" width="75" align="right"> 1,122 </td><td height="16" width="22" align="right">$</td><td height="16" width="75" align="right"> 1,068 </td><td height="16" width="22" align="right">$</td><td height="16" width="75" align="right"> 1,118 </td></tr><tr><td height="16" width="407" align="left">    Losses from continuing operations attributable to </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="left"> </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="left"> </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="left"> </td></tr><tr><td height="16" width="407" align="left">        noncontrolling interests</td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="right"> 7 </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="right"> 55 </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="right"> 17 </td></tr><tr><td height="16" width="407" align="left">    Preferred dividends of subsidiaries</td><td height="16" style="border-bottom: 1px solid #000000;" align="right" width="22"> </td><td height="16" style="border-bottom: 1px solid #000000;" align="right" width="75"> (10)</td><td height="16" style="border-bottom: 1px solid #000000;" align="right" width="22"> </td><td height="16" style="border-bottom: 1px solid #000000;" align="right" width="75"> (10)</td><td height="16" style="border-bottom: 1px solid #000000;" align="right" width="22"> </td><td height="16" style="border-bottom: 1px solid #000000;" align="right" width="75"> (10)</td></tr><tr><td height="16" width="407" align="left">    Income from continuing operations attributable to common shares</td><td height="16" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;" align="right" width="22">$</td><td height="16" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;" align="right" width="75"> 1,119 </td><td height="16" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;" align="right" width="22">$</td><td height="16" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;" align="right" width="75"> 1,113 </td><td height="16" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;" align="right" width="22">$</td><td height="16" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;" align="right" width="75"> 1,125 </td></tr><tr><td height="16" width="407" align="left">Denominator:</td><td height="16" style="border-top: 3px solid #000000;" align="right" width="22"> </td><td height="16" style="border-top: 3px solid #000000;" align="left" width="75"> </td><td height="16" style="border-top: 3px solid #000000;" align="right" width="22"> </td><td height="16" style="border-top: 3px solid #000000;" align="left" width="75"> </td><td height="16" style="border-top: 3px solid #000000;" align="right" width="22"> </td><td height="16" style="border-top: 3px solid #000000;" align="left" width="75"> </td></tr><tr><td height="16" width="407" align="left">    Weighted-average common shares outstanding for basic EPS</td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="right"> 243,339 </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="right"> 247,387 </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="right"> 259,269 </td></tr><tr><td height="16" width="407" align="left">    Dilutive effect of stock options, restricted stock awards and</td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="left"> </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="left"> </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="left"> </td></tr><tr><td height="16" width="407" align="left">        restricted stock units </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="right"> 4,045 </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="right"> 3,772 </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="right"> 4,735 </td></tr><tr><td height="16" width="407" align="left">    Weighted-average common shares outstanding for diluted EPS</td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="right"> 247,384 </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="right"> 251,159 </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="right"> 264,004 </td></tr><tr><td height="16" width="407" align="left"> </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="left"> </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="left"> </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="left"> </td></tr><tr><td height="16" width="407" align="left">Income from continuing operations attributable to common shares:</td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="left"> </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="left"> </td><td height="16" width="22" align="right"> </td><td height="16" width="75" align="left"> </td></tr><tr><td height="16" width="407" align="left">    Per common share, basic</td><td height="16" width="22" align="right">$</td><td height="16" width="75" align="right"> 4.60 </td><td height="16" width="22" align="right">$</td><td height="16" width="75" align="right"> 4.50 </td><td height="16" width="22" align="right">$</td><td height="16" width="75" align="right"> 4.34 </td></tr><tr><td height="16" style="border-bottom: 3px solid #969696;" align="left" width="407">    Per common share, diluted</td><td height="16" style="border-bottom: 3px solid #969696;" align="right" width="22">$</td><td height="16" style="border-bottom: 3px solid #969696;" align="right" width="75"> 4.52 </td><td height="16" style="border-bottom: 3px solid #969696;" align="right" width="22">$</td><td height="16" style="border-bottom: 3px solid #969696;" align="right" width="75"> 4.43 </td><td height="16" style="border-bottom: 3px solid #969696;" align="right" width="22">$</td><td height="16" style="border-bottom: 3px solid #969696;" align="right" width="75"> 4.26 </td></tr><tr><td height="16" style="border-top: 3px solid #969696;" align="left" width="407"><i>(1) As adjusted for the retrospective adoption of ASC 810 (SFAS 160).</i></td><td height="16" style="border-top: 3px solid #969696;" align="left" width="22"> </td><td height="16" style="border-top: 3px solid #969696;" align="left" width="75"> </td><td height="16" style="border-top: 3px solid #969696;" align="left" width="22"> </td><td height="16" style="border-top: 3px solid #969696;" align="left" width="75"> </td><td height="16" style="border-top: 3px solid #969696;" align="left" width="22"> </td><td height="16" style="border-top: 3px solid #969696;" align="left" width="75"> </td></tr></table><p>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 and minus tax shortfalls are assumed to be used to repurchase shares on the open market at the average market price for the year. 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 options for which the exercise price on common stock was greater than the average market price during the year. We had 1,504,250; 1,496,500 and 55,800 such stock options outstanding during 2009, 2008 and 2007, respectively. <br />During 2007, we had 699,600 stock options outstanding that were antidilutive because of the unearned compensation and windfall tax benefits included in the assumed proceeds under the treasury stock method. There were no such antidilutive stock options outstanding during 2009 or 2008.<br />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 and minus tax shortfalls related to the awards are assumed to be used to repurchase shares on the open market at the average market price for the year. 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 1,009 restricted stock awards and units outstanding that were antidilutive during 2008. There were no such anti-dilutive restricted stock awards or units in 2009 or 2007.</p></div> NOTE 14. SEMPRA ENERGY - SHAREHOLDERS' EQUITY AND EARNINGS PER SHARE The following table provides the per share computations for income from continuing false false No definition available. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true