Exhibit 99.2
Table F (Unaudited) | |||||||||||||||||||
Income Statement Data by Business Unit | |||||||||||||||||||
Three Months Ended March 31, 2006 | |||||||||||||||||||
(Dollars in millions) | SDG&E | SoCalGas | Commodities | Generation | Pipelines & Storage | LNG | Financial | Consolidating Adjustments, Parent & Other |
| Total | |||||||||
| |||||||||||||||||||
Operating Revenues | $ 722 | $ 1,425 | $ 780 | $ 404 | $ 80 | $ - | $ - | $ (62 | ) |
| $ 3,349 | ||||||||
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Cost of Sales and Other Operating Expenses | 556 | 1,258 | 573 | 291 | 73 | 10 | - | (22 | ) |
| 2,739 | ||||||||
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Litigation Expense | - | - | 5 | 26 | 1 | - | - | 1 |
| 33 | |||||||||
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Depreciation & Amortization | 67 | 66 | 7 | 13 | 4 | - | - | 2 |
| 159 | |||||||||
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Impairment Losses | - | - | - | - | - | - | 2 | - |
| 2 | |||||||||
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Operating Income | 99 | 101 | 195 | 74 | 2 | (10 | ) | (2 | ) | (43 | ) |
| 416 | ||||||
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Other Income (Expense), Net | 1 |
| - |
| (1 | ) | 1 |
| 1 |
| (1 | ) | (3 | ) | 6 |
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| 4 | |
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Income before Interest & Taxes(1) | 100 | 101 | 194 | 75 | 3 | (11 | ) | (5 | ) | (37 | ) |
| 420 | ||||||
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Net Interest Expense (Income)(2) | 18 | 15 | 16 | 6 | (1 | ) | - | 1 | 29 |
| 84 | ||||||||
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Income Tax Expense/(Benefit) | 35 | 37 | 62 | 26 | 3 | (6 | ) | (11 | ) | (36 | ) |
| 110 | ||||||
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Equity in Income of Certain Unconsolidated Subsidiaries | - | - | - | - | 10 | - | - | - |
| 10 | |||||||||
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Discontinued Operations | - | - | - | - | - | - | - | 19 |
| 19 | |||||||||
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Net Income | $ 47 |
| $ 49 |
| $ 116 |
| $ 43 |
| $ 11 |
| $ (5 | ) | $ 5 |
| $ (11 | ) |
| $ 255 | |
Three Months Ended March 31, 2005 | |||||||||||||||||||
(Dollars in millions) | SDG&E | SoCalGas | Commodities | Generation | Pipelines & Storage | LNG | Financial | Consolidating Adjustments, Parent & Other |
| Total | |||||||||
| |||||||||||||||||||
Operating Revenues | $ 621 | $ 1,241 | $ 458 | $ 382 | $ 69 | $ - | $ - | $ (116) |
| $ 2,655 | |||||||||
| |||||||||||||||||||
Cost of Sales and Other Operating Expenses | 461 | 1,049 | 397 | 301 | 61 | 7 | 1 | (63) |
| 2,214 | |||||||||
| |||||||||||||||||||
Litigation Expense | - | - | 4 | 4 | - | - | - | - |
| 8 | |||||||||
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Depreciation & Amortization | 65 | 66 | 7 | 9 | 4 | - | 5 | 2 |
| 158 | |||||||||
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Impairment Losses | - | - | - | - | - | - | 1 | - |
| 1 | |||||||||
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Operating Income | 95 | 126 | 50 | 68 | 4 | (7) | (7) | (55) |
| 274 | |||||||||
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Other Income (Expense), Net | 2 |
| (1) |
| - |
| 7 |
| - |
| (1) |
| (1) |
| 4 |
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| 10 | |
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Income before Interest & Taxes(1) | 97 | 125 | 50 | 75 | 4 | (8) | (8) | (51) |
| 284 | |||||||||
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Net Interest Expense(2) | 11 | 9 | 6 | 3 | - | - | 1 | 36 |
| 66 | |||||||||
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Income Tax Expense/(Benefit) | 27 | 47 | 15 | 27 | 1 | (3) | (13) | (94) |
| 7 | |||||||||
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Equity in Income of Certain Unconsolidated Subsidiaries | - | - | - | - | 10 | - | - | - |
| 10 | |||||||||
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Discontinued Operations | - | - | - | - | - | - | - | 2 |
| 2 | |||||||||
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Net Income | $ 59 |
| $ 69 |
| $ 29 |
| $ 45 |
| $ 13 |
| $ (5) |
| $ 4 |
| $ 9 |
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| $ 223 | |
(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. | |||||||||||||||||||
The statements above reflect the decision in the first quarter of 2006 to dispose of the Twin Oaks power plant and the Energy Services and Facilities Management businesses within Sempra Generation. | |||||||||||||||||||