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

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share Computations

The following table provides EPS computations for the years ended December 31, 2016, 2015 and 2014. Basic EPS is calculated by dividing earnings attributable 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.

EARNINGS PER SHARE COMPUTATIONS AND DIVIDENDS DECLARED
(Dollars in millions, except per share amounts; shares in thousands)
	Years ended December 31,
	2016		2015		2014
Numerator:
Earnings/Income attributable to common shares	$	1,370	$	1,349	$	1,161
Denominator:
Weighted-average common shares outstanding for basic EPS(1)	250,217		248,249		245,891
Dilutive effect of stock options, restricted stock awards and
restricted stock units(2)(3)	938		2,674		4,764
Weighted-average common shares outstanding for diluted EPS(2)	251,155		250,923		250,655
Earnings per share:
Basic	$	5.48	$	5.43	$	4.72
Diluted	$	5.46	$	5.37	$	4.63
Dividends declared per share of common stock(4)	$	3.02	$	2.80	$	2.64

(1) Includes average fully vested RSUs held in our Deferred Compensation Plan of 568 in 2016, 491 in 2015 and 212 in 2014. 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) Reflects the prospective adoption of ASU 2016-09 as of January 1, 2016. Prior to the adoption, the dilutive effect of stock options, RSAs and RSUs was reduced by excess tax benefits assumed to be used to repurchase shares on the open market.

(3) Due to market fluctuations of both Sempra Energy stock and the comparative indices used to determine the vesting percentage of our total shareholder return performance-based RSUs, which we discuss in Note 8, dilutive RSUs may vary widely from period-to-period.

(4) Our board of directors has the discretion to determine the payment and amount of future dividends.

Schedule Of Common Stock Activity

The following table provides common stock activity for the years ended December 31, 2016, 2015 and 2014.

COMMON STOCK ACTIVITY
	Years ended December 31,
	2016		2015		2014
Common shares outstanding, January 1	248,298,080		246,330,884		244,461,327
Restricted stock units vesting(1)	1,363,555		1,499,062		989,027
Stock options exercised	167,742		227,815		699,783
Savings plan issuance	653,607		652,631		398,042
Common stock investment plan(2)	266,056		249,665		205,203
Shares repurchased(3)	(596,526	)	(661,977	)	(422,498	)
Common shares outstanding, December 31	250,152,514		248,298,080		246,330,884

(1) Includes dividend equivalents.

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

(3) From time to time, 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.