Sempra (SRE) 8-K Results of Operations and Financial Condition

Exhibit 99.2
SEMPRA ENERGY
Table F (Unaudited)
STATEMENT OF OPERATIONS DATA BY SEGMENT
Three months ended December 31, 2016
(Dollars in millions)		SDG&E			SoCalGas			Sempra South American Utilities			Sempra Mexico			Sempra Renewables			Sempra LNG & Midstream			Consolidating Adjustments, Parent & Other			Total
Revenues		$	1,061		$	1,135		$	386		$	244		$	9		$	124		$	(89	)	$	2,870
Cost of sales and other expenses		(632		)	(779		)	(318		)	(124		)	(16		)	(127		)	58			(1,938		)
Depreciation and amortization		(168		)	(121		)	(8		)	(30		)	(2		)	(10		)	(3		)	(342		)
Adjustment to impairment losses		—			1			—			—			—			—			—			1
(Loss) gain on sale of assets		—			—			(1		)	—			4			—			—			3
Equity earnings (losses), before income tax		—			—			—			—			4			(2		)	—			2
Other income (expense), net		12			8			11			6			1			1			(5		)	34
Income (loss) before interest and tax (1)		273			244			70			96			—			(14		)	(39		)	630
Net interest (expense) income (2)		(50		)	(25		)	(3		)	1			(1		)	9			(56		)	(125		)
Income tax (expense) benefit		(76		)	(68		)	(34		)	(18		)	9			3			79			(105		)
Equity earnings, net of income tax		—			—			—			9			—			—			—			9
Losses (earnings) attributable to noncontrolling interests		4			—			(4		)	(32		)	4			(1		)	(1		)	(30		)
Earnings (losses)		$	151		$	151		$	29		$	56		$	12		$	(3	)	$	(17	)	$	379
Three months ended December 31, 2015
(Dollars in millions)		SDG&E			SoCalGas			Sempra South American Utilities			Sempra Mexico			Sempra Renewables			Sempra LNG & Midstream			Consolidating Adjustments, Parent & Other			Total
Revenues		$	1,051		$	1,041		$	393		$	161		$	6		$	141		$	(92	)	$	2,701
Cost of sales and other expenses		(649		)	(706		)	(309		)	(101		)	(15		)	(153		)	61			(1,872		)
Depreciation and amortization		(158		)	(119		)	(13		)	(18		)	(1		)	(13		)	(3		)	(325		)
Impairment losses		—			(9		)	—			—			—			—			—			(9		)
Plant closure adjustment		5			—			—			—			—			—			—			5
Gain on sale of asset		—			—			—			—			8			—			—			8
Equity earnings (losses), before income tax		—			—			—			—			4			25			(4		)	25
Other income, net		10			5			4			9			1			—			9			38
Income (loss) before interest and tax (1)		259			212			75			51			3			—			(29		)	571
Net interest (expense) income (2)		(49		)	(22		)	(5		)	(3		)	1			—			(61		)	(139		)
Income tax (expense) benefit		(67		)	(47		)	(17		)	(4		)	12			1			57			(65		)
Equity earnings, net of income tax		—			—			—			21			—			—			—			21
Losses (earnings) attributable to noncontrolling interests		1			—			(7		)	(12		)	—			—			(1		)	(19		)
Earnings (losses)		$	144		$	143		$	46		$	53		$	16		$	1		$	(34	)	$	369
(1)	Management believes Income (Loss) Before Interest and Tax is a useful measurement of our segments’ performance because it can be used to evaluate the effectiveness of our operations
	exclusive of interest and income tax, neither of which is directly relevant to the efficiency of those operations.
(2)	Includes interest income, interest expense and preferred dividends of subsidiary.

SEMPRA ENERGY
Table F (Unaudited)
STATEMENT OF OPERATIONS DATA BY SEGMENT
Year ended December 31, 2016
(Dollars in millions)		SDG&E			SoCalGas			Sempra South American Utilities			Sempra Mexico			Sempra Renewables			Sempra LNG & Midstream			Consolidating Adjustments, Parent & Other			Total
Revenues		$	4,253		$	3,471		$	1,556		$	725		$	34		$	508		$	(364	)	$	10,183
Cost of sales and other expenses		(2,617		)	(2,416		)	(1,255		)	(413		)	(56		)	(780		)	287			(7,250		)
Depreciation and amortization		(646		)	(476		)	(49		)	(77		)	(6		)	(47		)	(11		)	(1,312		)
Impairment losses		—			(22		)	—			(131		)	—			—			—			(153		)
Gain on sale of assets		—			—			—			—			4			130			—			134
Equity earnings (losses), before income tax		—			—			—			—			34			(28		)	—			6
Remeasurement of equity method investment		—			—			—			617			—			—			—			617
Other income (expense), net		50			32			21			(5		)	2			3			29			132
Income (loss) before interest and tax (1)		1,040			589			273			716			12			(214		)	(59		)	2,357
Net interest (expense) income (2)		(195		)	(97		)	(17		)	(7		)	1			28			(241		)	(528		)
Income tax (expense) benefit		(280		)	(143		)	(80		)	(188		)	38			80			184			(389		)
Equity earnings, net of income tax		—			—			3			75			—			—			—			78
Losses (earnings) attributable to noncontrolling interests		5			—			(23		)	(133		)	4			(1		)	—			(148		)
Earnings (losses)		$	570		$	349		$	156		$	463		$	55		$	(107	)	$	(116	)	$	1,370
Year ended December 31, 2015
(Dollars in millions)		SDG&E			SoCalGas			Sempra South American Utilities			Sempra Mexico			Sempra Renewables			Sempra LNG & Midstream			Consolidating Adjustments, Parent & Other			Total
Revenues		$	4,219		$	3,489		$	1,544		$	669		$	36		$	653		$	(379	)	$	10,231
Cost of sales and other expenses		(2,583		)	(2,411		)	(1,232		)	(415		)	(51		)	(681		)	311			(7,062		)
Depreciation and amortization		(604		)	(461		)	(50		)	(70		)	(6		)	(49		)	(10		)	(1,250		)
Impairment losses		—			(9		)	—			—			—			—			—			(9		)
Plant closure adjustment		26			—			—			—			—			—			—			26
Gain on sale of assets		—			—			1			—			8			61			—			70
Equity earnings (losses), before income tax		—			—			—			—			24			84			(4		)	104
Other income, net		36			30			22			20			2			—			16			126
Income (loss) before interest and tax (1)		1,094			638			285			204			13			68			(66		)	2,236
Net interest (expense) income (2)		(204		)	(81		)	(13		)	(16		)	1			3			(223		)	(533		)
Income tax (expense) benefit		(284		)	(138		)	(67		)	(11		)	49			(28		)	138			(341		)
Equity (losses) earnings, net of income tax		—			—			(4		)	89			—			—			—			85
(Earnings) losses attributable to noncontrolling interests		(19		)	—			(26		)	(53		)	—			1			(1		)	(98		)
Earnings (losses)		$	587		$	419		$	175		$	213		$	63		$	44		$	(152	)	$	1,349
(1)	Management believes Income (Loss) Before Interest and Tax is a useful measurement of our segments’ performance because it can be used to evaluate the effectiveness of our operations
	exclusive of interest and income tax, neither of which is directly relevant to the efficiency of those operations.
(2)	Includes interest income, interest expense and preferred dividends of subsidiary.