OTHER FINANCIAL DATA (Tables)

3 Months Ended

Jun. 30, 2015

Other Financial Data (Tables) [Abstract]

Net Periodic Benefit Cost Table

NET PERIODIC BENEFIT COST – SEMPRA ENERGY CONSOLIDATED
(Dollars in millions)
	Pension benefits				Other postretirement benefits
	Three months ended June 30,
	2015		2014		2015		2014
Service cost	$	29	$	26	$	7	$	6
Interest cost		39		41		11		12
Expected return on assets		(44)		(43)		(17)		(16)
Amortization of:
Prior service cost (credit)		2		3		―		(1)
Actuarial loss		11		5		―		―
Settlement		―		6		―		―
Regulatory adjustment		(30)		―		―		―
Total net periodic benefit cost	$	7	$	38	$	1	$	1
	Six months ended June 30,
	2015		2014		2015		2014
Service cost	$	59	$	52	$	14	$	12
Interest cost		78		82		23		24
Expected return on assets		(88)		(86)		(34)		(32)
Amortization of:
Prior service cost (credit)		5		5		(1)		(2)
Actuarial loss		19		10		―		―
Settlements		―		9		―		―
Regulatory adjustment		(59)		(24)		―		―
Total net periodic benefit cost	$	14	$	48	$	2	$	2

NET PERIODIC BENEFIT COST – SDG&E
(Dollars in millions)
	Pension benefits				Other postretirement benefits
	Three months ended June 30,
	2015		2014		2015		2014
Service cost	$	8	$	7	$	2	$	1
Interest cost		10		11		2		2
Expected return on assets		(13)		(14)		(3)		(3)
Amortization of:
Prior service cost		1		1		1		1
Actuarial loss		2		1		―		―
Settlements		―		2		―		―
Regulatory adjustment		(7)		6		(2)		(1)
Total net periodic benefit cost	$	1	$	14	$	―	$	―
	Six months ended June 30,
	2015		2014		2015		2014
Service cost	$	16	$	15	$	4	$	3
Interest cost		20		22		4		4
Expected return on assets		(27)		(28)		(6)		(6)
Amortization of:
Prior service cost		1		1		2		2
Actuarial loss		4		2		―		―
Settlements		―		2		―		―
Regulatory adjustment		(12)		1		(4)		(3)
Total net periodic benefit cost	$	2	$	15	$	―	$	―

NET PERIODIC BENEFIT COST – SOCALGAS
(Dollars in millions)
	Pension benefits				Other postretirement benefits
	Three months ended June 30,
	2015		2014		2015		2014
Service cost	$	19	$	16	$	5	$	4
Interest cost		24		26		9		10
Expected return on assets		(27)		(26)		(14)		(13)
Amortization of:
Prior service cost (credit)		2		2		(2)		(2)
Actuarial loss		6		2		―		―
Regulatory adjustment		(23)		(6)		2		1
Total net periodic benefit cost	$	1	$	14	$	―	$	―
	Six months ended June 30,
	2015		2014		2015		2014
Service cost	$	38	$	32	$	10	$	8
Interest cost		49		51		18		19
Expected return on assets		(54)		(52)		(28)		(26)
Amortization of:
Prior service cost (credit)		4		4		(4)		(4)
Actuarial loss		11		4		―		―
Regulatory adjustment		(47)		(25)		4		3
Total net periodic benefit cost	$	1	$	14	$	―	$	―

Contributions to Benefit Plans Table

BENEFIT PLAN CONTRIBUTIONS
(Dollars in millions)
	Sempra Energy
	Consolidated		SDG&E		SoCalGas
Contributions through June 30, 2015:
Pension plans	$	17	$	2	$	1
Other postretirement benefit plans		1		―		―
Total expected contributions in 2015:
Pension plans	$	36	$	3	$	7
Other postretirement benefit plans		11		8		―

Earnings Per Share Computations Table

EARNINGS PER SHARE COMPUTATIONS
(Dollars in millions, except per share amounts; shares in thousands)
		Three months ended June 30,				Six months ended June 30,
		2015		2014		2015		2014
Numerator:
Earnings/Income attributable to common shares		$	295	$	269	$	732	$	516
Denominator:
Weighted-average common shares
	outstanding for basic EPS(1)		248,108		245,688		247,916		245,484
Dilutive effect of stock options, restricted
	stock awards and restricted stock units		3,383		4,373		3,348		4,332
Weighted-average common shares
	outstanding for diluted EPS		251,491		250,061		251,264		249,816
Earnings per share:
Basic		$	1.19	$	1.10	$	2.95	$	2.10
Diluted			1.17		1.08		2.91		2.07
(1)	Includes fully vested restricted stock units of 501 and 476 held in our Deferred Compensation Plan for the three months and six months ended June 30, 2015, respectively, and 221 and 202 for the three months and six months ended June 30, 2014, respectively. These fully vested restricted stock units 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.

Capitalized Financing Costs Table

CAPITALIZED FINANCING COSTS
(Dollars in millions)
	Three months ended June 30,				Six months ended June 30,
	2015		2014		2015		2014
Sempra Energy Consolidated:
AFUDC related to debt	$	7	$	4	$	13	$	10
AFUDC related to equity		31		24		58		49
Other capitalized financing costs		17		8		34		16
Total Sempra Energy Consolidated	$	55	$	36	$	105	$	75
SDG&E:
AFUDC related to debt	$	4	$	3	$	7	$	7
AFUDC related to equity		10		7		18		18
Total SDG&E	$	14	$	10	$	25	$	25
SoCalGas:
AFUDC related to debt	$	3	$	1	$	6	$	3
AFUDC related to equity		10		6		19		11
Total SoCalGas	$	13	$	7	$	25	$	14

Changes in Components of Accumulated Comprehensive Income Table

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) BY COMPONENT(1)
SEMPRA ENERGY CONSOLIDATED
(Dollars in millions)
				Pension and other
				postretirement benefits
		Foreign								Total
		currency		Unamortized		Unamortized				accumulated other
		translation		net actuarial		prior service		Financial		comprehensive
		adjustments		gain (loss)		cost		instruments		income (loss)
		Three months ended June 30, 2015 and 2014
2015:
Balance as of March 31, 2015		$	(384)	$	(82)	$	(2)	$	(145)	$	(613)
Other comprehensive (loss) income before
reclassifications			(43)		―		―		57		14
Amounts reclassified from accumulated other
comprehensive income			―		1		―		2		3
Net other comprehensive (loss) income			(43)		1		―		59		17
Balance as of June 30, 2015		$	(427)	$	(81)	$	(2)	$	(86)	$	(596)
2014:
Balance as of March 31, 2014		$	(172)	$	(70)	$	―	$	(31)	$	(273)
Other comprehensive income (loss) before
reclassifications			2		―		―		(12)		(10)
Amounts reclassified from accumulated other
comprehensive income			―		5		―		5		10
Net other comprehensive income (loss)			2		5		―		(7)		―
Balance as of June 30, 2014		$	(170)	$	(65)	$	―	$	(38)	$	(273)
		Six months ended June 30, 2015 and 2014
2015:
Balance as of December 31, 2014		$	(322)	$	(83)	$	(2)	$	(90)	$	(497)
Other comprehensive (loss) income before
reclassifications			(105)		―		―		3		(102)
Amounts reclassified from accumulated other
comprehensive income			―		2		―		1		3
Net other comprehensive (loss) income			(105)		2		―		4		(99)
Balance as of June 30, 2015		$	(427)	$	(81)	$	(2)	$	(86)	$	(596)
2014:
Balance as of December 31, 2013		$	(129)	$	(73)	$	―	$	(26)	$	(228)
Other comprehensive loss before
reclassifications			(41)		―		―		(26)		(67)
Amounts reclassified from accumulated other
comprehensive income			―		8		―		14		22
Net other comprehensive (loss) income			(41)		8		―		(12)		(45)
Balance as of June 30, 2014		$	(170)	$	(65)	$	―	$	(38)	$	(273)
(1)	All amounts are net of income tax, if subject to tax, and exclude noncontrolling interests.

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) BY COMPONENT(1)
SAN DIEGO GAS & ELECTRIC COMPANY
(Dollars in millions)
		Pension and other
		postretirement benefits
						Total
		Unamortized		Unamortized		accumulated other
		net actuarial		prior service		comprehensive
		gain (loss)		credit		income (loss)
		Three months ended June 30, 2015 and 2014
2015:
Balance as of March 31, and June 30, 2015		$	(13)	$	1	$	(12)
2014:
Balance as of March 31, 2014		$	(10)	$	1	$	(9)
Amounts reclassified from accumulated other
comprehensive income			1		―		1
Net other comprehensive income			1		―		1
Balance as of June 30, 2014		$	(9)	$	1	$	(8)
		Six months ended June 30, 2015 and 2014
2015:
Balance as of December 31, 2014 and June 30, 2015		$	(13)	$	1	$	(12)
2014:
Balance as of December 31, 2013		$	(10)	$	1	$	(9)
Amounts reclassified from accumulated other
comprehensive income			1		―		1
Net other comprehensive income			1		―		1
Balance as of June 30, 2014		$	(9)	$	1	$	(8)
(1)	All amounts are net of income tax, if subject to tax, and exclude noncontrolling interests.

Reclassifications out of AOCI Table

RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
(Dollars in millions)
Details about accumulated		Amounts reclassified
other comprehensive income (loss)		from accumulated other				Affected line item on Condensed
components		comprehensive income (loss)				Consolidated Statements of Operations
		Three months ended June 30,
		2015		2014
Sempra Energy Consolidated:
Financial instruments:
Interest rate and foreign exchange instruments		$	3	$	6	Interest Expense
Interest rate instruments			3		2	Equity Earnings, Before Income Tax
Total before income tax			6		8
			(1)		(1)	Income Tax Expense
Net of income tax			5		7
			(3)		(2)	Earnings Attributable to Noncontrolling Interests
		$	2	$	5
Pension and other postretirement benefits:
Amortization of actuarial loss		$	2	$	8	See note (1) below
			(1)		(3)	Income Tax Expense
Net of income tax		$	1	$	5
Total reclassifications for the period, net of tax		$	3	$	10
SDG&E:
Financial instruments:
Interest rate instruments		$	3	$	2	Interest Expense
			(3)		(2)	Earnings Attributable to Noncontrolling Interest
		$	―	$	―
Pension and other postretirement benefits:
Amortization of actuarial loss		$	―	$	2	See note (1) below
			―		(1)	Income Tax Expense
Net of income tax		$	―	$	1
Total reclassifications for the period, net of tax		$	―	$	1
(1)	Amounts are included in the computation of net periodic benefit cost (see "Pension and Other Postretirement Benefits" above).

RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
(Dollars in millions)
Details about accumulated		Amount reclassified
other comprehensive income (loss)		from accumulated other				Affected line item on Condensed
components		comprehensive income (loss)				Consolidated Statements of Operations
		Six months ended June 30,
		2015		2014
Sempra Energy Consolidated:
Financial instruments:
Interest rate and foreign exchange instruments		$	9	$	9	Interest Expense
Interest rate instruments			―		2	Gain on Sale of Equity Interest and Assets
Interest rate instruments			6		5	Equity Earnings, Before Income Tax
Commodity contracts not subject to						Revenues: Energy-Related
	rate recovery		(7)		10	Businesses
Total before income tax			8		26
			―		(7)	Income Tax Expense
Net of income tax			8		19
			(7)		(5)	Earnings Attributable to Noncontrolling Interests
		$	1	$	14
Pension and other postretirement benefits:
Amortization of actuarial loss		$	4	$	13	See note (1) below
			(2)		(5)	Income Tax Expense
Net of income tax		$	2	$	8
Total reclassifications for the period, net of tax		$	3	$	22
SDG&E:
Financial instruments:
Interest rate instruments		$	6	$	5	Interest Expense
			(6)		(5)	Earnings Attributable to Noncontrolling Interest
		$	―	$	―
Pension and other postretirement benefits:
Amortization of actuarial loss		$	―	$	2	See note (1) below
			―		(1)	Income Tax Expense
Net of income tax		$	―	$	1
Total reclassifications for the period, net of tax		$	―	$	1
(1)	Amounts are included in the computation of net periodic benefit cost (see "Pension and Other Postretirement Benefits" above).

Shareholders' Equity and Noncontrolling Interests Table

SHAREHOLDERS’ EQUITY AND NONCONTROLLING INTERESTS ― SEMPRA ENERGY CONSOLIDATED
(Dollars in millions)
		Sempra Energy		Non-
		shareholders’		controlling		Total
		equity		interests		equity
Balance at December 31, 2014	$	11,326	$	774	$	12,100
Comprehensive income		634		33		667
Preferred dividends of subsidiary		(1)		―		(1)
Share-based compensation expense		26		―		26
Common stock dividends declared		(347)		―		(347)
Issuance of common stock		59		―		59
Repurchase of common stock		(66)		―		(66)
Tax benefit related to share-based compensation		52		―		52
Equity contributed by noncontrolling interest		―		1		1
Distributions to noncontrolling interests		―		(16)		(16)
Balance at June 30, 2015	$	11,683	$	792	$	12,475
Balance at December 31, 2013	$	11,008	$	842	$	11,850
Comprehensive income		472		39		511
Preferred dividends of subsidiary		(1)		―		(1)
Share-based compensation expense		21		―		21
Common stock dividends declared		(324)		―		(324)
Issuance of common stock		42		―		42
Repurchase of common stock		(37)		―		(37)
Tax benefit related to share-based compensation		13		―		13
Equity contributed by noncontrolling interest		―		1		1
Distributions to noncontrolling interests		―		(25)		(25)
Balance at June 30, 2014	$	11,194	$	857	$	12,051

SHAREHOLDER'S EQUITY AND NONCONTROLLING INTEREST ― SDG&E
(Dollars in millions)
		SDG&E		Non-
		shareholder’s		controlling		Total
		equity		interest		equity
Balance at December 31, 2014	$	4,932	$	60	$	4,992
Comprehensive income		273		9		282
Distributions to noncontrolling interest		―		(8)		(8)
Balance at June 30, 2015	$	5,205	$	61	$	5,266
Balance at December 31, 2013	$	4,628	$	91	$	4,719
Comprehensive income		223		7		230
Distributions to noncontrolling interest		―		(13)		(13)
Balance at June 30, 2014	$	4,851	$	85	$	4,936

SHAREHOLDERS' EQUITY ― SOCALGAS
(Dollars in millions)
		SoCalGas
		shareholders'
		equity
Balance at December 31, 2014	$	2,781
Comprehensive income		285
Preferred stock dividends declared		(1)
Balance at June 30, 2015	$	3,065
Balance at December 31, 2013	$	2,549
Comprehensive income		159
Preferred stock dividends declared		(1)
Balance at June 30, 2014	$	2,707

Amounts Due To and From Affiliates at SDG&E and SoCalGas Table

AMOUNTS DUE TO AND FROM AFFILIATES AT SDG&E AND SOCALGAS
(Dollars in millions)
		June 30, 2015		December 31, 2014
SDG&E:
Current:
Due from various affiliates		$	1	$	1
Due to Sempra Energy		$	7	$	17
Due to SoCalGas			―		4
		$	7	$	21
Income taxes due from Sempra Energy(1)		$	97	$	16
SoCalGas:
Current:
Due from Sempra Energy(2)		$	273	$	―
Due from SDG&E			―		4
		$	273	$	4
Due to Sempra Energy		$	―	$	13
Income taxes due (to) from Sempra Energy(1)		$	(19)	$	9
(1)	SDG&E and SoCalGas are included in the consolidated income tax return of Sempra Energy and are allocated income tax expense from Sempra Energy in an amount equal to that which would result from each company having always filed a separate return.
(2)	Net receivable includes a loan to Sempra Energy of $279 million at June 30, 2015 at an interest rate of 0.08 percent.

Revenues From Unconsolidated Affiliates at SDG&E and SoCalGas Table

REVENUES FROM UNCONSOLIDATED AFFILIATES AT SDG&E AND SOCALGAS
(Dollars in millions)
	Three months ended June 30,				Six months ended June 30,
	2015		2014		2015			2014
SDG&E	$	2	$	3	$	5	$	6
SoCalGas		17		16		36		34

Other Income and Expense Table

OTHER INCOME, NET
(Dollars in millions)
		Three months ended June 30,				Six months ended June 30,
			2015		2014		2015		2014
Sempra Energy Consolidated:
Allowance for equity funds used during construction		$	31	$	24	$	58	$	49
Investment (losses) gains(1)			(2)		15		7		23
(Losses) gains on interest rate and foreign exchange instruments, net			(3)		11		(3)		16
Electrical infrastructure relocation income(2)			4		3		4		3
Regulatory interest, net(3)			1		2		2		3
Foreign currency (losses) gains			(2)		1		(3)		1
Sundry, net			8		(7)		11		(6)
Total		$	37	$	49	$	76	$	89
SDG&E:
Allowance for equity funds used during construction		$	10	$	7	$	18	$	18
Regulatory interest, net(3)			1		2		2		3
Sundry, net			(2)		(2)		(2)		(1)
Total		$	9	$	7	$	18	$	20
SoCalGas:
Allowance for equity funds used during construction		$	10	$	6	$	19	$	11
Sundry, net			(1)		(3)		(2)		(4)
Total		$	9	$	3	$	17	$	7
(1)	Represents investment (losses) gains on dedicated assets in support of our executive retirement and deferred compensation plans. These amounts are partially offset by corresponding changes in compensation expense related to the plans.
(2)	Income at Luz del Sur associated with the relocation of electrical infrastructure.
(3)	Interest on regulatory balancing accounts.

Income Tax Expense and Effective Income Tax Rates Table

INCOME TAX EXPENSE AND EFFECTIVE INCOME TAX RATES
(Dollars in millions)
			Effective				Effective
		Income tax	income			Income tax	income
		expense	tax rate			expense	tax rate
		Three months ended June 30,
		2015				2014
Sempra Energy Consolidated	$	98	25	%	$	93	25	%
SDG&E		54	29			69	35
SoCalGas		16	18			28	26
		Six months ended June 30,
		2015				2014
Sempra Energy Consolidated	$	261	26	%	$	220	29	%
SDG&E		142	34			152	40
SoCalGas		111	28			66	29

Variable Interest Entity Table

AMOUNTS ASSOCIATED WITH OTAY MESA VIE
(Dollars in millions)
	Three months ended June 30,				Six months ended June 30,
	2015		2014		2015		2014
Operating expenses
Cost of electric fuel and purchased power	$	(21)	$	(22)	$	(39)	$	(40)
Operation and maintenance		6		5		10		10
Depreciation		6		7		12		14
Total operating expenses		(9)		(10)		(17)		(16)
Operating income		9		10		17		16
Interest expense		(5)		(4)		(9)		(8)
Income before income taxes/Net income		4		6		8		8
Earnings attributable to noncontrolling interest		(4)		(6)		(8)		(8)
Earnings attributable to common shares	$	―	$	―	$	―	$	―

Ownership Interests Held By Others Table

OTHER NONCONTROLLING INTERESTS
(Dollars in millions)
		Percent ownership held by others
		June 30,		December 31,			June 30,		December 31,
		2015		2014			2015		2014
SDG&E:
Otay Mesa VIE		100	%	100	%	$	61	$	60
Sempra South American Utilities:
Chilquinta Energía subsidiaries(1)		23.5 – 43.4		23.6 – 43.4			22		23
Luz del Sur		16.4		16.4			171		177
Tecsur		9.8		9.8			3		4
Sempra Mexico:
IEnova, S.A.B. de C.V.		18.9		18.9			476		452
Sempra Natural Gas:
Bay Gas Storage Company, Ltd.		9.1		9.1			24		23
Liberty Gas Storage, LLC		25.0		25.0			14		14
Southern Gas Transmission Company		49.0		49.0			1		1
Total Sempra Energy						$	772	$	754
(1)	Chilquinta Energía has four subsidiaries with noncontrolling interests held by others. Percentage range reflects the highest and lowest ownership percentages amongst these subsidiaries.

Inventory Table

INVENTORY BALANCES
(Dollars in millions)
	Natural gas				Liquefied natural gas				Materials and supplies				Total
	June 30, 2015		December 31, 2014		June 30, 2015		December 31, 2014		June 30, 2015		December 31, 2014		June 30, 2015		December 31, 2014
SDG&E	$	3	$	8	$	―	$	―	$	64	$	65	$	67	$	73
SoCalGas		29		155		―		―		28		26		57		181
Sempra South American
Utilities		―		―		―		―		35		33		35		33
Sempra Mexico		―		―		10		9		9		9		19		18
Sempra Renewables		―		―		―		―		2		2		2		2
Sempra Natural Gas		81		83		4		5		1		1		86		89
Sempra Energy
Consolidated	$	113	$	246	$	14	$	14	$	139	$	136	$	266	$	396

Afiliate Loans Table

DUE FROM UNCONSOLIDATED AFFILIATES(1)
(Dollars in millions)
			June 30, 2015		December 31, 2014
Sempra South American Utilities:
Eletrans S.A.:
4% Note(2)		$	61	$	41
Sempra Mexico:
Affiliates of joint venture with PEMEX:
Note due November 13, 2017(3)(4)			3		44
Note due November 14, 2018(3)			41		40
Note due November 14, 2018(3)			33		33
Note due November 14, 2018(3)			8		8
Energía Sierra Juárez:
Note due June 15, 2018(5)			23		22
Other(6)			4		38
Total		$	173	$	226
(1)	Amounts include principal balances plus accumulated interest outstanding.
(2)	U.S. dollar-denominated loan, at a fixed interest rate with no stated maturity date, to provide project financing for the construction of transmission lines at Eletrans S.A., an affiliate of Chilquinta Energía.
(3)	U.S. dollar-denominated loan, at a variable interest rate based on a 30-day LIBOR plus 450 basis points (4.68 percent at June 30, 2015), to finance the Los Ramones Norte pipeline project.
(4)	In May 2015, approximately $41 million was paid with proceeds from project financing at the joint venture.
(5)	U.S. dollar-denominated loan, at a variable interest rate based on a 30-day LIBOR plus 637.5 basis points (6.56 percent at June 30, 2015), to finance the first phase of the Energía Sierra Juárez wind project.
(6)	Amounts represent accounts receivable from various Sempra Renewables and Sempra Mexico joint venture investments.