SEMPRA ENERGY - SHAREHOLDERS' EQUITY AND EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2018

Schedule Of Earnings Per Share Computations

Basic EPS is calculated by dividing earnings attributable to common shares by the weighted-average 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.



EARNINGS PER COMMON SHARE COMPUTATIONS
(Dollars in millions, except per share amounts; shares in thousands)
	Years ended December 31,
	2018		2017		2016
Numerator:
Earnings attributable to common shares	$	924	$	256	$	1,370

Denominator:
Weighted-average common shares outstanding for basic EPS⁽¹⁾	268,072		251,545		250,217
Dilutive effect of stock options, RSAs and RSUs⁽²⁾	919		755		938
Dilutive effect of common shares sold forward	861		—		—
Weighted-average common shares outstanding for diluted EPS	269,852		252,300		251,155

EPS:
Basic	$	3.45	$	1.02	$	5.48
Diluted	$	3.42	$	1.01	$	5.46


⁽¹⁾	Includes average fully vested RSUs held in our Deferred Compensation Plan of 641 in 2018, 609 in 2017 and 568 in 2016. These fully vested RSUs are included in weighted-average common shares outstanding for basic EPS because there are no conditions under which the corresponding shares will not be issued.

⁽²⁾

Due to market fluctuations of both Sempra Energy common stock and the comparative indices used to determine the vesting percentage of our total shareholder return performance-based RSUs, which we discuss in Note 10, dilutive RSUs may vary widely from period-to-period.

Schedule Of Common Stock Activity

The following table provides common stock activity for the last three years.



COMMON STOCK ACTIVITY

	Years ended December 31,
	2018		2017		2016
Common shares outstanding, January 1	251,358,977		250,152,514		248,298,080
Shares issued under forward sale agreements	21,175,473		—		—
RSUs vesting⁽¹⁾	509,042		362,022		1,363,555
Stock options exercised	138,861		164,454		167,742
Savings plan issuance	553,036		567,428		653,607
Common stock investment plan⁽²⁾	231,242		254,047		266,056
Issuance of RSUs held in our Deferred Compensation Plan	3,357		7,811		—
Shares repurchased⁽³⁾	(200,475	)	(149,299	)	(596,526	)
Common shares outstanding, December 31	273,769,513		251,358,977		250,152,514


⁽¹⁾	Includes dividend equivalents.


⁽²⁾	Participants in the Direct Stock Purchase Plan may reinvest dividends to purchase newly issued shares.

⁽³⁾

Generally, we purchase shares of our common stock or units from long-term incentive plan participants who elect to sell to us a sufficient number of vested RSAs or RSUs to meet minimum statutory tax withholding requirements.