EXHIBIT 99.2
SEMPRA ENERGY | ||||||||||||||||||||
Table F (Unaudited) | ||||||||||||||||||||
Income Statement Data by Business Unit | ||||||||||||||||||||
Three Months Ended September 30, 2005 | ||||||||||||||||||||
(Dollars in millions) | SDG&E | SoCal Gas | Commodities | Generation | Pipelines & Storage | LNG | Financial | Consolidating Adjustments, Parent & Other |
| Total | ||||||||||
| ||||||||||||||||||||
Operating Revenues | $ 601 | $ 910 | $ 754 | $ 462 | $ 92 | $ - | $ - | $ (93 | ) |
| $ 2,726 | |||||||||
| ||||||||||||||||||||
Operating Expenses | 438 | 825 | 615 | 407 | 88 | 8 | 1 | 108 |
| 2,490 | ||||||||||
| ||||||||||||||||||||
Depreciation & Amortization | 66 |
| 66 |
| 7 |
| 14 |
| 3 |
| - |
| (3 | ) | 4 |
|
| 157 | ||
| ||||||||||||||||||||
Operating Income | 97 | 19 | 132 | 41 | 1 | (8 | ) | 2 | (205 | ) |
| 79 | ||||||||
| ||||||||||||||||||||
Other Income, net | 3 |
| - |
| 98 |
| 15 |
| 20 |
| - |
| (13 | ) | 8 |
|
| 131 | ||
| ||||||||||||||||||||
Income before Interest & Taxes(1) | 100 | 19 | 230 | 56 | 21 | (8 | ) | (11 | ) | (197 | ) |
| 210 | |||||||
| ||||||||||||||||||||
Net Interest Expense(2) | 6 | 9 | 8 | 7 | (1 | ) | - | 1 | 18 |
| 48 | |||||||||
| ||||||||||||||||||||
Income Tax Expense/(Benefit) | (8 | ) | (26 | ) | 61 | 19 | 3 | (3 | ) | (20 | ) | (86 | ) |
| (60 | ) | ||||
| ||||||||||||||||||||
Discontinued Operations | - | - | - | - | - | - | - | (1 | ) |
| (1 | ) | ||||||||
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Net Income | $ 102 |
| $ 36 |
| $ 161 |
| $ 30 |
| $ 19 |
| $ (5 | ) | $ 8 |
| $ (130 | ) |
| $ 221 | ||
Three Months Ended September 30, 2004 | ||||||||||||||||||||
(Dollars in millions) | SDG&E | SoCal Gas | Commodities | Generation | Pipelines & Storage | LNG | Financial | Consolidating Adjustments, Parent & Other |
| Total | ||||||||||
| ||||||||||||||||||||
Operating Revenues | $ 550 | $ 826 | $ 366 | $ 439 | $ 73 | $ - | $ - | $ (89 | ) |
| $ 2,165 | |||||||||
| ||||||||||||||||||||
Operating Expenses | 368 | 636 | 282 | 334 | 72 | 6 | 1 | (50 | ) |
| 1,649 | |||||||||
| ||||||||||||||||||||
Depreciation & Amortization | 68 |
| 75 |
| 6 |
| 10 |
| 3 |
| - |
| 5 |
| 4 |
|
| 171 | ||
| ||||||||||||||||||||
Operating Income | 114 | 115 | 78 | 95 | (2 | ) | (6 | ) | (6 | ) | (43 | ) |
| 345 | ||||||
| ||||||||||||||||||||
Other Income, net | 1 |
| 14 |
| - |
| 12 |
| 13 |
| - |
| 1 |
| (1 | ) |
| 40 | ||
| ||||||||||||||||||||
Income before Interest & Taxes(1) | 115 | 129 | 78 | 107 | 11 | (6 | ) | (5 | ) | (44 | ) |
| 385 | |||||||
| ||||||||||||||||||||
Net Interest Expense(2) | - | 9 | 3 | 7 | - | - | 2 | 30 |
| 51 | ||||||||||
| ||||||||||||||||||||
Income Tax Expense/(Benefit) | 55 | 52 | 29 | 36 | 4 | (2 | ) | (17 | ) | (54 | ) |
| 103 | |||||||
| ||||||||||||||||||||
Discontinued Operations | - | - | - | - | - | - | - | - |
| - | ||||||||||
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Net Income | $ 60 |
| $ 68 |
| $ 46 |
| $ 64 |
| $ 7 |
| $ (4 | ) | $ 10 |
| $ (20 | ) |
| $ 231 | ||
(1) Management believes "Income before Interest & Taxes" (Operating Income plus Other Income, net) is a useful measurement of our business units' performance because it can be used to evaluate the effectiveness of our operations exclusive of interest and income taxes, neither of which is directly relevant to the efficiency of those operations. | ||||||||||||||||||||
(2)Net Interest Expense includes Interest Income, Interest Expense and Preferred Dividends of Subsidiaries. | ||||||||||||||||||||
Table F (Unaudited) (continued) | ||||||||||||||||||||
Income Statement Data by Business Unit | ||||||||||||||||||||
Nine Months Ended September 30, 2005 | ||||||||||||||||||||
(Dollars in millions) | SDG&E | SoCal Gas | Commodities | Generation | Pipelines & Storage | LNG | Financial | Consolidating Adjustments, Parent & Other |
| Total | ||||||||||
| ||||||||||||||||||||
Operating Revenues | $ 1,761 | $ 3,091 | $ 1,658 | $ 1,237 | $ 236 | $ - | $ - | $ (293 | ) |
| $ 7,690 | |||||||||
| ||||||||||||||||||||
Operating Expenses | 1,302 | 2,647 | 1,408 | 1,025 | 218 | 23 | 2 | 13 |
| 6,638 | ||||||||||
| ||||||||||||||||||||
Depreciation & Amortization | 197 |
| 198 |
| 21 |
| 41 |
| 10 |
| - |
| 8 |
| 6 |
|
| 481 | ||
| ||||||||||||||||||||
Operating Income | 262 | 246 | 229 | 171 | 8 | (23 | ) | (10 | ) | (312 | ) |
| 571 | |||||||
| ||||||||||||||||||||
Other Income, net | 4 |
| (1 | ) | 98 |
| 15 |
| 43 |
| - |
| (14 | ) | 12 |
|
| 157 | ||
| ||||||||||||||||||||
Income before Interest & Taxes(1) | 266 | 245 | 327 | 186 | 51 | (23 | ) | (24 | ) | (300 | ) |
| 728 | |||||||
| ||||||||||||||||||||
Net Interest Expense(2) | 37 | 27 | 20 | 15 | (1 | ) | 1 | 4 | 73 |
| 176 | |||||||||
| ||||||||||||||||||||
Income Tax Expense/(Benefit) | 39 | 55 | 91 | 68 | 4 | (9 | ) | (47 | ) | (217 | ) |
| (16 | ) | ||||||
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Discontinued Operations | - | - | - | - | - | - | - | (3 | ) |
| (3 | ) | ||||||||
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Net Income | $ 190 |
| $ 163 |
| $ 216 |
| $ 103 |
| $ 48 |
| $ (15 | ) | $ 19 |
| $ (159 | ) |
| $ 565 | ||
Nine Months Ended September 30, 2004 | ||||||||||||||||||||
(Dollars in millions) | SDG&E | SoCal Gas | Commodities | Generation | Pipelines & Storage | LNG | Financial | Consolidating Adjustments, Parent & Other |
| Total | ||||||||||
| ||||||||||||||||||||
Operating Revenues | $ 1,666 | $ 2,821 | $ 1,018 | $ 1,175 | $ 200 | $ - | $ - | $ (359 | ) |
| $ 6,521 | |||||||||
| ||||||||||||||||||||
Operating Expenses | 1,168 | 2,277 | 763 | 937 | 192 | 12 | 2 | (228 | ) |
| 5,123 | |||||||||
| ||||||||||||||||||||
Depreciation & Amortization | 203 |
| 225 |
| 17 |
| 32 |
| 10 |
| - |
| 7 |
| 7 |
|
| 501 | ||
| ||||||||||||||||||||
Operating Income | 295 | 319 | 238 | 206 | (2 | ) | (12 | ) | (9 | ) | (138 | ) |
| 897 | ||||||
| ||||||||||||||||||||
Other Income, net | 4 |
| 15 |
| - |
| (1 | ) | 54 |
| 13 |
| (26 | ) | (1 | ) |
| 58 | ||
| ||||||||||||||||||||
Income before Interest & Taxes(1) | 299 | 334 | 238 | 205 | 52 | 1 | (35 | ) | (139 | ) |
| 955 | ||||||||
| ||||||||||||||||||||
Net Interest Expense(2) | 31 | 27 | 7 | 20 | 1 | - | 6 | 91 |
| 183 | ||||||||||
| ||||||||||||||||||||
Income Tax Expense/(Benefit) | 128 | 133 | 82 | 67 | 16 | 1 | (67 | ) | (169 | ) |
| 191 | ||||||||
| ||||||||||||||||||||
Discontinued Operations | - | - | - | - | - | - | - | (32 | ) |
| (32 | ) | ||||||||
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Net Income | $ 140 |
| $ 174 |
| $ 149 |
| $ 118 |
| $ 35 |
| $ - |
| $ 26 |
| $ (93 | ) |
| $ 549 | ||
(1) Management believes "Income before Interest & Taxes" (Operating Income plus Other Income, net) is a useful measurement of our business units' performance because it can be used to evaluate the effectiveness of our operations exclusive of interest and income taxes, neither of which is directly relevant to the efficiency of those operations. | ||||||||||||||||||||
(2)Net Interest Expense includes Interest Income, Interest Expense and Preferred Dividends of Subsidiaries. | ||||||||||||||||||||