SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement, Noncash Expense [Abstract]

Schedule Of Share-based Compensation Expense

Total share-based compensation expense for all of Sempra Energy’s share-based awards was comprised as follows:

SHARE-BASED COMPENSATION EXPENSE
(Dollars in millions)
	Years ended December 31,
	2020		2019		2018
Sempra Energy Consolidated:
Share-based compensation expense, before income taxes(1)	$	62	$	66	$	76
Income tax benefit(1)	(17)		(18)		(21)
	$	45	$	48	$	55
Capitalized share-based compensation cost	$	11	$	11	$	10
Excess income tax deficiency	$	19	$	4	$	15
SDG&E:
Share-based compensation expense, before income taxes	$	11	$	10	$	12
Income tax benefit	(3)		(3)		(3)
	$	8	$	7	$	9
Capitalized share-based compensation cost	$	7	$	6	$	6
Excess income tax deficiency	$	3	$	1	$	3
SoCalGas:
Share-based compensation expense, before income taxes	$	14	$	15	$	16
Income tax benefit	(4)		(4)		(5)
	$	10	$	11	$	11
Capitalized share-based compensation cost	$	4	$	5	$	4
Excess income tax deficiency	$	3	$	1	$	2

(1)    Includes activity of awards issued from the IEnova 2013 LTIP, which settle in cash upon vesting based on the price of IEnova’s common stock.

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

To calculate this fair value, we used the Black-Scholes model with the following weighted-average assumptions:

KEY ASSUMPTIONS FOR STOCK OPTIONS GRANTED
	Years ended December 31,
	2020		2019
Stock price volatility	18.78	%	18.63	%
Expected term	5.34 years		5.34 years
Risk-free rate of return	1.68	%	2.49	%
Annual dividend yield	2.60	%	3.35	%

Schedule Of Non-qualified Stock Options

The following table shows a summary of nonqualified stock options at December 31, 2020 and activity for the year then ended:

NONQUALIFIED STOCK OPTIONS
	Common shares under options	Weighted- average exercise price		Weighted- average remaining contractual term (in years)	Aggregate intrinsic value (in millions)
Outstanding at January 1, 2020	247,577	$	105.86
Granted	154,860	$	149.12
Exercised	(4,400)	$	55.90
Forfeited/canceled	(32,642)	$	149.12
Outstanding at December 31, 2020	365,395	$	120.93	8.34	$	2
Vested or expected to vest at December 31, 2020	349,596	$	120.28	8.32	$	2
Exercisable at December 31, 2020	81,061	$	106.76	8.00	$	2

Schedule Of Restricted Stock Awards And Units Valuation Assumptions

Below are key assumptions for RSUs granted in the last three years:

KEY ASSUMPTIONS FOR RSUs GRANTED
	Years ended December 31,
	2020		2019		2018
Stock price volatility	16.35	%	17.74	%	17.46	%
Risk-free rate of return	1.55	%	2.46	%	2.00	%

Schedule Of Restricted Stock Units

The following table shows a summary of RSUs at December 31, 2020 and activity for the year then ended:

RESTRICTED STOCK UNITS
	Performance-based restricted stock units			Service-based restricted stock units
	Units	Weighted- average grant-date fair value		Units	Weighted- average grant-date fair value
Nonvested at January 1, 2020	1,086,981	$	109.85	415,787	$	119.96
Granted	265,236	$	155.62	165,847	$	138.91
Vested	(403,302)	$	110.45	(230,612)	$	112.11
Forfeited	(54,954)	$	134.90	(7,445)	$	140.18
Nonvested at December 31, 2020(1)	893,961	$	121.61	343,577	$	121.59
Expected to vest at December 31, 2020	882,903	$	121.45	339,025	$	121.46

(1)    Each RSU represents the right to receive one share of our common stock if applicable performance conditions are satisfied. For all performance-based RSUs, up to an additional 100% of the shares represented by the RSUs may be issued if Sempra Energy exceeds target performance conditions.