Sempra Energy Announces 2012 Financial Results

                Sempra Energy Announces 2012 Financial Results

- Earnings-per-Share Guidance Range of $4.30 to $4.80 Set for 2013

- Company Advances Strategic Plan With 2012 Accomplishments:

- Sunrise Powerlink Transmission Line Energized

- Mexican Pipeline Projects Added

- Renewable Energy Generation Portfolio More Than Doubled

- Cameron LNG Export Project Achieved Key Milestones

PR Newswire

SAN DIEGO, Feb. 26, 2013

SAN DIEGO, Feb. 26, 2013 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today
reported 2012 earnings of $859 million, or $3.48 per diluted share, compared
with $1.3 billion, or $5.51 per diluted share, in 2011.

Earnings in 2012 included $239 million in non-cash charges related to a
write-down on Sempra U.S. Gas & Power's 25-percent ownership stake in the
Rockies Express Pipeline. The charges were partially offset by the receipt of
a $25 million after-tax cash payment in the fourth quarter 2012 from Kinder
Morgan related to the sale of its 50-percent stake in the Rockies Express
Pipeline. In 2011, Sempra Energy benefited from a gain of $277 million,
reflecting the write-up in value of Sempra International's South American
utility investments. Excluding the net write-down in 2012 and gain in 2011,
Sempra Energy's adjusted earnings were $1.07 billion, or $4.35 per diluted
share, in 2012, compared with $1.05 billion, or $4.36 per diluted share, in
2011.

Sempra Energy's fourth-quarter 2012 earnings were $293 million, or $1.18 per
diluted share, compared with fourth-quarter 2011 earnings of $285 million, or
$1.18 per diluted share. Excluding the receipt from Kinder Morgan, adjusted
earnings in the fourth quarter 2012 were $268 million, or $1.08 per diluted
share.

"In 2012, we met our key operational and financial goals and made significant
progress in executing on our strategy," said Debra L. Reed, chairman and CEO
of Sempra Energy."Our domestic and international utilities performed well;
San Diego Gas & Electric put its Sunrise Powerlink transmission line into
service; we were awarded bids in Mexico to construct and own approximately $1
billion of natural gas pipelines; we more than doubled our renewable energy
generation portfolio; and we completed major regulatory filings for our
Cameron LNG export project. We remain on track with our goal to deliver
compound annual earnings growth of 6 percent to 8 percent, along with an
increased dividend."

Last week, Sempra Energy's board of directors approved a 5-percent increase in
the dividend to $2.52 per share from $2.40 per share, on an annualized basis.

In December 2012, following successful completion of the pre-filing process at
the Federal Energy Regulatory Commission (FERC), the company filed its formal
FERC permit application seeking approval to begin construction of the Cameron
LNG liquefaction and export terminal in Louisiana. The company expects to
receive all necessary regulatory permits by the end of this year for the
project, which is expected to begin operations in 2017 and process up to 1.7
billion cubic feet per day of natural gas for export to international markets.

CALIFORNIA UTILITIES
As previously reported, the revenue requirement established in the General
Rate Cases for San Diego Gas & Electric (SDG&E) and Southern California Gas
Co. (SoCalGas) will be retroactive to Jan. 1, 2012. Until the California
Public Utilities Commission reaches a final decision, both utilities are
recording revenues based on 2011 authorized levels, as adjusted for the
recovery of incremental wildfire insurance premiums. SoCalGas and SDG&E will
record the cumulative change resulting from the decision, retroactive to the
beginning of 2012, in the quarter a final decision is approved.

San Diego Gas & Electric
Earnings for SDG&E increased to $484 million in 2012 from $431 million in
2011. In the fourth quarter 2012, SDG&E earned $110 million, compared with
$158 million in the prior year's fourth quarter, primarily due to higher
revenues for incremental wildfire insurance premiums in the fourth quarter
2011 and higher expenses with no authorized revenue increase in 2012.

Southern California Gas Co.
SoCalGas earned $289 million in 2012, compared with $287 million in 2011. In
the fourth quarter, SoCalGas' earnings were $99 million in 2012, compared with
$79 million in 2011, due to lower income taxes, partially offset by higher
depreciation and other operating expenses.

SEMPRA INTERNATIONAL
Sempra South American Utilities
In 2012, earnings for Sempra South American Utilities were $164 million,
compared with $425 million in 2011. Earnings in 2011 were higher due to the
$277 million second-quarter gain from the write-up in value of the company's
South American utility investments. In the fourth quarter 2012, Sempra South
American Utilities had earnings of $46 million, up from $39 million in the
prior year's fourth quarter.

Sempra Mexico
Sempra Mexico's earnings in 2012 were $157 million, compared with $192 million
in 2011. Sempra Mexico's fourth-quarter earnings were $35 million in 2012,
compared with $80 million in 2011. During the fourth quarter 2012, a change
in an intercompany agreement resulted in lower earnings at Sempra Mexico and
higher earnings at Sempra Natural Gas.

SEMPRA U.S. GAS & POWER
Sempra Renewables
In 2012, earnings for Sempra Renewables increased to $61 million from $7
million in 2011. Fourth-quarter earnings for Sempra Renewables were $14
million in 2012, compared with a loss of $2 million in 2011, due primarily to
the addition of solar and wind assets in 2012.

Since the beginning of 2012, Sempra U.S. Gas & Power has put into service more
than 500 megawatts (MW) of wind and solar power projects stretching from
Hawaii to Pennsylvania. The company's portfolio of renewable energy now
totals nearly 850 MW.

Sempra Natural Gas
Sempra Natural Gas posted a loss of $241 million in 2012, compared with
earnings of $115 million in 2011. Sempra Natural Gas' 2012 results included
the $239 million of non-cash charges for the write-down of its investment in
the Rockies Express Pipeline, offset by the receipt of the $25 million cash
payment from Kinder Morgan related to the sale of its ownership in the
pipeline. In the fourth quarter 2012, Sempra Natural Gas earned $19 million,
compared with a loss of $36 million in the fourth quarter 2011. The higher
fourth-quarter earnings were due primarily to the receipt of the cash payment
from Kinder Morgan and the change in the intercompany agreement with Sempra
Mexico, partially offset by lower earnings from LNG marketing operations.

2013 EARNINGS GUIDANCE
Sempra Energy today announced an earnings-per-share guidance range for 2013 of
$4.30 to $4.80, which includes recording the anticipated 2012 impact of the
final decision in SDG&E's and SoCalGas' General Rate Cases (expected in the
first half of 2013) and approximately $0.30 per share in higher tax expense
from repatriation of dividends from international operations.

NON-GAAP FINANCIAL MEASURES
Adjusted earnings for 2012 and 2011 are non-GAAP financial measures.
Additional information regarding these non-GAAP financial measures is in the
appendix on Table A of the fourth-quarter financial tables.

INTERNET BROADCAST
Sempra Energy will broadcast a live discussion of its earnings results over
the Internet today at 1 p.m. EST with senior management of the company.
Access is available by logging onto the website at www.sempra.com. For those
unable to log onto the live webcast, the teleconference will be available on
replay a few hours after its conclusion by dialing (888) 203-1112 and entering
passcode 2184727.

Sempra Energy, based in San Diego, is a Fortune 500 energy services holding
company with 2012 revenues of approximately $10 billion. The Sempra Energy
companies' nearly 17,000 employees serve more than 31 million consumers
worldwide.

On Jan. 1, 2012, Sempra Energy consolidated Sempra Generation, Sempra
Pipelines & Storage and Sempra LNG into two new operating units: Sempra
International and Sempra U.S. Gas & Power. Sempra International is comprised
of two new reporting segments: Sempra South American Utilities and Sempra
Mexico. Sempra U.S. Gas & Power also is comprised of two new reporting
segments: Sempra Renewables and Sempra Natural Gas. Beginning in the first
quarter 2012, in addition to San Diego Gas & Electric and Southern California
Gas Co., Sempra Energy began reporting financial results under each of the
above segments.

This press release contains statements that are not historical fact and
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements can be identified
by words like "believes," "expects," "anticipates," "intends," "plans,"
"estimates," "may," "will," "would," "could," "should," "potential," "target,"
"outlook," "depends," "pursue" or similar expressions, or discussions of
guidance, strategies, plans, goals, initiatives, objectives or intentions.
Forward-looking statements are not guarantees of performance. They involve
risks, uncertainties and assumptions. Future results may differ materially
from those expressed in the forward-looking statements. Forward-looking
statements are necessarily based upon various assumptions involving judgments
with respect to the future and other risks, including, among others: local,
regional, national and international economic, competitive, political,
legislative and regulatory conditions and developments; actions and the timing
of actions by the California Public Utilities Commission, California State
Legislature, Federal Energy Regulatory Commission, U.S. Department of Energy,
Nuclear Regulatory Commission, California Energy Commission, California Air
Resources Board, and other regulatory, governmental and environmental bodies
in the United States and other countries where the company does business;
capital market conditions, including the availability of credit and the
liquidity of investments; inflation, interest and exchange rates; the impact
of benchmark interest rates, generally the U.S. Treasury bond and Moody's
A-rated utility bond yields, on the California utilities' cost of capital; the
timing and success of business development efforts and construction,
maintenance and capital projects, including risks inherent in the ability to
obtain, and the timing of the granting of, permits, licenses, certificates and
other authorizations; energy markets, including the timing and extent of
changes and volatility in commodity prices; the availability of electric
power, natural gas and liquefied natural gas, including disruptions caused by
failures in the North American transmission grid, pipeline explosions and
equipment failures; weather conditions, natural disasters, catastrophic
accidents, and conservation efforts; risks inherent in nuclear power
generation and radioactive materials storage, including catastrophic release
of such materials, the disallowance of the recovery of the investment in, or
operating costs of, the generation facility due to an extended outage, and
increased regulatory oversight; risks posed by decisions and actions of fourth
parties who control the operations of investments in which the company does
not have a controlling interest; wars, terrorist attacks and cyber security
threats; business, regulatory, environmental and legal decisions and
requirements; expropriation of assets by foreign governments and title and
other property disputes; the status of deregulation of retail natural gas and
electricity delivery; the inability or determination not to enter into
long-term supply and sales agreements or long-term firm capacity agreements;
the resolution of litigation; and other uncertainties, all of which are
difficult to predict and many of which are beyond the control of the company.
These risks and uncertainties are further discussed in the reports that Sempra
Energy has filed with the Securities and Exchange Commission. These reports
are available through the EDGAR system free-of-charge on the SEC's website,
www.sec.gov, and on the company's website at www.sempra.com.

These forward-looking statements speak only as of the date hereof, and the
company undertakes no obligation to update or revise these forecasts or
projections or other forward-looking statements, whether as a result of new
information, future events or otherwise.

Sempra International, LLC, and Sempra U.S. Gas & Power, LLC, are not the same
companies as San Diego Gas & Electric (SDG&E) or Southern California Gas
Company (SoCalGas) and Sempra International, LLC and Sempra U.S. Gas & Power,
LLC are not regulated by the California Public Utilities Commission.Sempra
International's underlying entities include Sempra Mexico and Sempra South
American Utilities. Sempra U.S. Gas & Power's underlying entities include
Sempra Renewables and Sempra Natural Gas.

SEMPRA ENERGY
Table A
CONSOLIDATED STATEMENTS OF OPERATIONS
                                    Three months ended    Years ended
                                    December 31,          December 31,
(Dollars in millions, except per    2012       2011       2012       2011
share amounts)
                                    (unaudited)
REVENUES
Utilities                           $ 2,342   $ 2,389   $ 8,441   $ 8,322
Energy-related businesses           326        215        1,206      1,714
 Total revenues                  2,668      2,604      9,647      10,036
EXPENSES AND OTHER INCOME
Utilities:
 Cost of natural gas             (426)      (499)      (1,290)    (1,866)
 Cost of electric fuel and       (508)      (421)      (1,760)    (1,397)
purchased power
Energy-related businesses:
 Cost of natural gas, electric   (135)      (52)       (481)      (746)
fuel and purchased power
 Other cost of sales             (42)       (14)       (159)      (137)
Litigation expense                  (8)        (7)        (26)       (37)
Other operation and maintenance     (818)      (815)      (2,923)    (2,788)
Depreciation and amortization       (287)      (247)      (1,090)    (976)
Franchise fees and other taxes      (95)       (84)       (359)      (343)
Equity earnings (losses), before
income tax:
 RBS Sempra Commodities LLP      -          -          -          (24)
 Rockies Express Pipeline LLC    54         14         (312)      43
 Other                           2          (1)        (7)        (10)
Remeasurement of equity method      -          -          -          277
investments
Other income, net                   35         44         172        130
Interest income                     10         5          24         26
Interest expense                    (141)      (121)      (493)      (465)
Income before income taxes and
equity earnings of certain          309        406        943        1,723
unconsolidated subsidiaries
Income tax expense                  (11)       (105)      (59)       (394)
Equity earnings, net of income tax  7          7          36         52
Net income                          305        308        920        1,381
Earnings attributable to            (11)       (21)       (55)       (42)
noncontrolling interests
Preferred dividends of subsidiaries (1)        (2)        (6)        (8)
Earnings                            $   293  $   285  $   859  $ 1,331
Basic earnings per common share     $  1.21  $  1.19  $  3.56  $  5.55
Weighted-average number of shares   241,984    239,803    241,347    239,720
outstanding, basic (thousands)
Diluted earnings per common share   $  1.18  $  1.18  $  3.48  $  5.51
Weighted-average number of shares   247,570    241,756    246,693    241,523
outstanding, diluted (thousands)
Dividends declared per share of     $  0.60  $  0.48  $  2.40  $  1.92
common stock





SEMPRA ENERGY
Table A (Continued)
RECONCILIATION OF SEMPRA ENERGY GAAP EARNINGS TO SEMPRA ENERGY ADJUSTED
EARNINGS EXCLUDING NET IMPAIRMENT CHARGE AND GAIN FROM REMEASUREMENT OF
EQUITY METHOD INVESTMENTS (Unaudited)
Sempra Energy Adjusted Earnings and Adjusted Earnings Per Share excluding a
$214 million impairment charge on our investment in Rockies Express LLC, net
of a $25 million Kinder Morgan receipt in the fourth quarter of 2012, and a
$277 million gain from the remeasurement of equity method investments in
Chilquinta Energia and Luz del Sur in the second quarter of 2011 are non-GAAP
financial measures (GAAP represents accounting principles generally accepted
in the United States). Because of the significance and nature of these items,
management believes that these non-GAAP financial measures provide a more
meaningful comparison of the performance of Sempra Energy's business
operations from 2012 to 2011 and to future periods. Non-GAAP financial
measures are supplementary information that should be considered in addition
to, but not as a substitute for, the information prepared in accordance with
GAAP. The table below reconciles for historical periods these non-GAAP
financial measures to Sempra Energy Earnings and Diluted Earnings Per Common
Share, which we consider to be the most directly comparable financial
measures calculated in accordance with GAAP.
                        Three months ended            Years ended
                        December 31,                  December 31,
(Dollars in millions,
except per share        2012           2011           2012          2011
amounts)
Sempra Energy GAAP      $   293      $   285      $   859     $ 1,331
Earnings
Add: Year-to-Date
Impairment Charge, Net  (25)           -              214           -
of Fourth-Quarter
Receipt
Less: Remeasurement     -              -              -             (277)
Gain in 2011
Sempra Energy Adjusted  $   268      $   285      $ 1,073      $ 1,054
Earnings
Diluted earnings per
common share:
Sempra Energy GAAP      $  1.18      $  1.18      $  3.48     $  5.51
Earnings
Sempra Energy Adjusted  $  1.08      $  1.18      $  4.35     $  4.36
Earnings
Weighted-average number
of shares outstanding,  247,570        241,756        246,693       241,523
diluted (thousands)



SEMPRA ENERGY
Table B
CONSOLIDATED BALANCE SHEETS
                                                  December 31,    December 31,
(Dollars in millions)                             2012            2011
Assets
Current assets:
 Cash and cash equivalents                        $          $     
                                                  475             252
 Restricted cash                                  46              24
 Accounts receivable, net                         1,299           1,345
 Income taxes receivable                          56              -
 Deferred income taxes                            148             -
 Inventories                                      408             346
 Regulatory balancing accounts – undercollected   395             38
 Regulatory assets                               62              89
 Fixed-price contracts and other derivatives      95              85
 U.S. Treasury grants receivable                  258             -
 Asset held for sale, power plant                 296             -
 Settlements receivable related to wildfire       5               10
 litigation
 Other                                            152             143
               Total current assets               3,695           2,332
Investments and other assets:
 Restricted cash                                  22              22
 Regulatory assets arising from pension and other
 postretirementbenefit obligations               1,151           1,126
 Regulatory assets arising from wildfire          364             594
 litigation costs
 Other regulatory assets                          1,227           1,060
 Nuclear decommissioning trusts                   908             804
 Investments                                      1,516           1,671
 Goodwill                                         1,111           1,036
 Other intangible assets                          436             448
 Sundry                                           878             691
               Total investments and other assets 7,613           7,452
Property, plant and equipment, net                25,191          23,465
Total assets                                      $    36,499  $   
                                                                  33,249
Liabilities and Equity
Current liabilities:
 Short-term debt                                  $          $     
                                                  546             449
 Accounts payable                                 1,110           1,107
 Income taxes payable                             -               5
 Deferred income taxes                            -               173
 Dividends and interest payable                   266             219
 Accrued compensation and benefits                337             323
 Regulatory balancing accounts – overcollected    141             105
 Current portion of long-term debt                725             336
 Fixed-price contracts and other derivatives      77              92
 Customer deposits                                143             142
 Reserve for wildfire litigation                  305             586
 Other                                            608             615
               Total current liabilities          4,258           4,152
Long-term debt                                    11,621          10,078
Deferred credits and other liabilities:
 Customer advances for construction               144             142
 Pension and other postretirement benefit         1,456           1,423
 obligations, net of plan assets
 Deferred income taxes                            2,100           1,520
 Deferred investment tax credits                  46              49
 Regulatory liabilities arising from removal      2,720           2,551
 obligations
 Asset retirement obligations                     2,033           1,905
 Other regulatory liabilities                     1               87
 Fixed-price contracts and other derivatives      252             301
 Reserve for wildfire litigation                  22              10
 Deferred credits and other                      1,084           774
               Total deferred credits and other   9,858           8,762
               liabilities
Contingently redeemable preferred stock of        79              79
subsidiary
Equity:
 Total Sempra Energy shareholders' equity         10,282          9,775
 Preferred stock of subsidiary                    20              20
 Other noncontrolling interests                   381             383
               Total equity                       10,683          10,178
Total liabilities and equity                      $    36,499  $   
                                                                  33,249



SEMPRA ENERGY
Table C
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                              Years ended
                                                              December 31,
(Dollars in millions)                                         2012     2011
Cash Flows from Operating Activities
Net income                                                    $ 920   $1,381
Adjustments to reconcile net income to net cashprovidedby
operating activities:
          Depreciation and amortization                       1,090    976
          Deferred income taxes and investment tax credits    (43)     3
          Equity losses (earnings)                            324      (61)
          Remeasurement of equity method investments          -        (277)
          Fixed-price contracts and other derivatives         (26)     2
          Other                                               34       (15)
Net change in other working capital components                (630)    (224)
Distributions from RBS Sempra Commodities LLP                 -        53
Changes in other assets                                       219      34
Changes in other liabilities                                  130      (5)
          Net cash provided by operating activities           2,018    1,867
Cash Flows from Investing Activities
Expenditures for property, plant and equipment                (2,956)  (2,844)
Proceeds from sale of assets and investments                  74       2
Expenditures for investments and acquisition of businesses,   (445)    (941)
net of cash acquired
Distributions from RBS Sempra Commodities LLP                 -        570
Distributions from other investments                          207      64
Purchases of nuclear decommissioning and other trust assets   (738)    (755)
Proceeds from sales by nuclear decommissioning and other      733      753
trusts
Decrease in restricted cash                                   196      653
Increase in restricted cash                                   (218)    (541)
Other                                                        (11)     (31)
          Net cash used in investing activities               (3,158)  (3,070)
Cash Flows from Financing Activities
Common dividends paid                                         (550)    (440)
Redemption of subsidiary preferred stock                      -        (80)
Preferred dividends paid by subsidiaries                      (6)      (8)
Issuances of common stock                                     78       28
Repurchases of common stock                                   (16)     (18)
Issuances of debt (maturities greater than 90 days)           3,097    2,098
Payments on debt (maturities greater than 90 days)            (1,112)  (482)
Decrease in short-term debt, net                              (47)     (498)
Purchase of noncontrolling interests                          (7)      (43)
Distributions to noncontrolling interests                     (61)     (16)
Other                                                        (21)     (7)
          Net cash provided by financing activities           1,355    534
Effect of exchange rate changes on cash and cash equivalents  8        9
Increase (decrease) in cash and cash equivalents              223      (660)
Cash and cash equivalents, January 1                          252      912
Cash and cash equivalents, December 31                        $ 475   $  252



SEMPRA ENERGY
Table D
SEGMENT EARNINGS AND CAPITAL EXPENDITURES & INVESTMENTS
                                     Three months ended  Years ended
                                     December 31,        December 31,
(Dollars in millions)                2012      2011      2012     2011
                                     (unaudited)
Earnings (Losses)
California Utilities:
 San Diego Gas & Electric          $110      $  158   $  484  $  431
 Southern California Gas           99        79        289      287
Sempra International:
 Sempra South American Utilities   46        39        164      425
 Sempra Mexico                     35        80        157      192
Sempra U.S. Gas & Power:
 Sempra Renewables                 14        (2)       61       7
 Sempra Natural Gas                19        (36)      (241)    115
Parent & Other                      (30)      (33)      (55)     (126)
Earnings                             $293      $  285   $  859  $1,331
                                     Three months ended  Years ended
                                     December 31,        December 31,
(Dollars in millions)                2012      2011      2012     2011
                                     (unaudited)
Capital Expenditures and Investments
California Utilities:
 San Diego Gas & Electric          $239      $  669   $1,237   $1,831
 Southern California Gas           177       184       639      683
Sempra International:
 Sempra South American Utilities   67        47        184      (132)   ^(1)
 Sempra Mexico                     32        5         45       16
Sempra U.S. Gas & Power:
 Sempra Renewables                 228       369       1,089    493
 Sempra Natural Gas                58        (15)      202      241
Parent & Other                       -         4         5        858     ^(1)
Eliminations^(2)                     -         (205)     -        (205)
Consolidated Capital Expenditures    $801      $1,058    $3,401   $3,785
and Investments

     The $611 million of net cash used to fund the purchase of controlling
^(1) interests in our investments in Chile and Peru in the second quarter
     of2011 is recorded as a net expenditure of $852 million at Parent and
     Other, partially offset by $241 million of cash acquired in the purchase,
     which is recorded at Sempra South American Utilities.
^(2) Amount represents elimination of intercompany sale of El Dorado power
     plant in October 2011.



SEMPRA ENERGY
Table E
OTHER OPERATING STATISTICS (Unaudited)
                                           Three months ended  Years ended
                                           December 31,        December 31,
UTILITIES                                  2012       2011     2012    2011
California Utilities – SDG&E and SoCalGas
Gas Sales (bcf)^(1)                        102        118      380     403
Transportation (bcf)^(1)                   181        155      736     620
Total Deliveries (bcf)^(1)                 283        273      1,116   1,023
Total Gas Customers (Thousands)                                6,678   6,655
Electric Sales (Millions of kWhs)^(1)      4,220      4,026    16,626  16,247
Direct Access (Millions of kWhs)           926        838      3,399   3,265
Total Deliveries (Millions of kWhs)^(1)    5,146      4,864    20,025  19,512
Total Electric Customers (Thousands)                           1,401   1,394
Other Utilities^(2)
Natural Gas Sales (bcf)
        Argentina                          84         88       358     355
        Mexico                             6          6        23      22
        Mobile Gas                         13         11       43      40
        Willmut Gas^(3)                    7          -        15      -
Natural Gas Customers (Thousands)
        Argentina                                              1,859   1,810
        Mexico                                                 93      90
        Mobile Gas                                             88      89
        Willmut Gas^(3)                                        20      -
Electric Sales (Millions of kWhs)
        Peru                               1,672      1,596    6,668   6,309
        Chile                              683        658      2,698   2,520
Electric Customers (Thousands)
        Peru                                                   959     926
        Chile                                                  623     609
ENERGY-RELATED BUSINESSES
Sempra International
Power Sold (Millions of kWhs)
        Sempra Mexico^(4)                  706        1,085    3,817   3,063
Sempra U.S. Gas & Power
Power Sold (Millions of kWhs)
        Sempra Renewables^(5)              440        225      1,207   633
        Sempra Natural Gas                 1,179      1,051    6,580   10,621

(1) Includes intercompany sales
(2) Represents 100% of the distribution operations of the subsidiary, although
the subsidiary in Argentina is not consolidated within Sempra Energy and the
related investments are accounted for under the equity method. The
subsidiaries in Peru and Chile were also accounted for under the equity method
until April 6, 2011, when they became consolidated entities upon our
acquisition of additional ownership interests.
(3) Acquired in May 2012.
(4) Sales to Sempra Natural Gas.
(5) Includes 100% of power sold from solar projects and 50% of total power
sold related to wind projects in which Sempra Energy has a 50% ownership. The
50%-owned subsidiaries are not consolidated within Sempra Energy and the
related investments are accounted for under the equity method.



SEMPRA ENERGY
Table F (Unaudited)
Statement of Operations Data by
Segment
Three Months Ended December 31,
2012
                                 Sempra                         Sempra   Consolidating
(Dollars in     SDG&E  SoCalGas  South      Sempra  Sempra      Natural  Adjustments,    Total
millions)                        American   Mexico  Renewables  Gas      Parent &
                                 Utilities                               Other
Revenues        $     $       $   380  $ 170  $       $     $          $2,668
                988    954                         19         170     (13)
Cost of Sales
and Other       (660)  (772)     (291)      (112)   (9)         (160)    (20)            (2,024)
Expenses
Litigation      (5)    (1)       -          -       -           -        (2)             (8)
Expense
Depreciation &  (131)  (94)      (14)       (16)    (6)         (24)     (2)             (287)
Amortization
Equity
Earnings
Recorded        -      -         -          -       1           54       1               56
Before Income
Tax
Other Income    10     3         6          (1)     (1)         6        12              35
(Expense), Net
Income (Loss)
Before          202    90        81         41      4           46       (24)            440
Interest & Tax
^(1)
Net Interest    (50)   (17)      (6)        (1)     (6)         (12)     (40)            (132)
Expense ^(2)
Income Tax
(Expense)       (39)   26        (21)       (12)    16          (14)     33              (11)
Benefit
Equity
Earnings        -      -         -          7       -           -        -               7
Recorded Net
of Income Tax
(Earnings)
Losses
Attributable    (3)    -         (8)        -       -           (1)      1               (11)
to
Noncontrolling
Interests
Earnings        $     $      $       $      $       $     $          $  293
(Losses)        110    99       46         35     14          19    (30)
Three Months Ended December 31,
2011
                                 Sempra                         Sempra   Consolidating
(Dollars in     SDG&E  SoCalGas  South      Sempra  Sempra      Natural  Adjustments,    Total
millions)                        American   Mexico  Renewables  Gas      Parent &
                                 Utilities                               Other
Revenues        $     $        $   374  $ 173  $       $     $           $2,604
                968    1,040                         5        292     (248)
Cost of Sales
and Other       (589)  (824)     (294)      (57)    (7)         (334)    220             (1,885)
Expenses
Litigation
(Expense)       (4)    (2)       (1)        (3)     -           -        3               (7)
Adjustment
Depreciation &  (106)  (85)      (13)       (16)    (2)         (24)     (1)             (247)
Amortization
Equity
Earnings
(Losses)        -      -         -          -       -           14       (1)             13
Recorded
Before Income
Tax
Other Income    24     4         (1)        5       -           (1)      13              44
(Expense), Net
Income (Loss)
Before          293    133       65         102     (4)         (53)     (14)            522
Interest & Tax
^(1)
Net Interest    (39)   (17)      (7)        (4)     (4)         (9)      (38)            (118)
Expense ^(2)
Income Tax
(Expense)       (83)   (37)      (12)       (25)    6           25       21              (105)
Benefit
Equity
Earnings        -      -         -          7       -           -        -               7
Recorded Net
of Income Tax
(Earnings)
Losses
Attributable    (13)   -         (7)        -       -           1        (2)             (21)
to
Noncontrolling
Interests
Earnings        $     $      $       $      $       $     $          $  285
(Losses)        158    79       39         80      (2)        (36)   (33)

^(1) Management believes "Income (Loss) before Interest & 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) Net Interest Expense includes Interest Income, Interest Expense and
Preferred Dividends of Subsidiaries.



SEMPRA ENERGY
Table F (Unaudited)
Statement of Operations Data by
Segment
Year Ended December 31, 2012
                                   Sempra                              Sempra        Consolidating
(Dollars in     SDG&E    SoCalGas  South           Sempra  Sempra      Natural       Adjustments,    Total
millions)                          American        Mexico  Renewables  Gas           Parent &
                                   Utilities                                         Other
Revenues        $3,694   $        $ 1,441        $ 605  $       $          $           $
                         3,282                             68         931          (374)          9,647
Cost of Sales
and Other       (2,380)  (2,494)   (1,111)         (355)   (30)        (889)         287             (6,972)
Expenses
Litigation      (15)     (6)       -               (4)     -           -             (1)             (26)
Expense
Depreciation &  (490)    (362)     (56)            (62)    (16)        (93)          (11)            (1,090)
Amortization
Equity Losses
Recorded        -        -         -               -       (6)         (312)   ^(1) (1)             (319)
Before Income
Tax
Other Income    69       17        13              16      (2)         9             50              172
(Expense), Net
Income (Loss)
Before          878      437       287             200     14          (354)         (50)            1,412
Interest & Tax
^(2)
Net Interest    (178)    (69)      (17)            (6)     (16)        (43)          (146)           (475)
Expense ^(3)
Income Tax
(Expense)       (190)    (79)      (78)            (73)    63          157           141             (59)
Benefit
Equity
Earnings        -        -         -               36      -           -             -               36
Recorded Net
of Income Tax
Earnings
Attributable
to              (26)     -         (28)            -       -           (1)           -               (55)
Noncontrolling
Interests
Earnings        $  484  $       $   164       $ 157  $       $          $          $  
(Losses)                 289                              61         (241)         (55)            859
Year Ended December 31, 2011
                                   Sempra                              Sempra        Consolidating
(Dollars in     SDG&E    SoCalGas  South           Sempra  Sempra      Natural       Adjustments,    Total
millions)                          American        Mexico  Renewables  Gas           Parent &
                                   Utilities                                         Other
Revenues        $3,373   $        $ 1,080        $ 736  $       $           $           $10,036
                         3,816                             22         1,632        (623)
Cost of Sales
and Other       (2,177)  (2,994)   (859)           (433)   (18)        (1,336)       540             (7,277)
Expenses
Litigation
(Expense)       (19)     (5)       (1)             (9)     -           (5)           2               (37)
Adjustment
Depreciation &  (422)    (331)     (40)            (63)    (6)         (103)         (11)            (976)
Amortization
Equity
(Losses)
Earnings        -        -         -               -       (6)         43            (28)            9
Recorded
Before Income
Tax
Other Income    79       13        299       ^(4) (13)    -           1             28              407
(Expense), Net
Income (Loss)
Before          834      499       479             218     (8)         232           (92)            2,162
Interest & Tax
^(2)
Net Interest    (147)    (69)      (12)            (18)    (13)        (46)          (142)           (447)
Expense ^(3)
Income Tax
(Expense)       (237)    (143)     (42)            (37)    28          (72)          109             (394)
Benefit
Equity
Earnings        -        -         23              29      -           -             -               52
Recorded Net
of Income Tax
(Earnings)
Losses
Attributable    (19)     -         (23)            -       -           1             (1)             (42)
to
Noncontrolling
Interests
Earnings        $  431  $       $   425       $ 192  $       $          $           $
(Losses)                 287                               7        115          (126)          1,331

^(1) Includes Rockies Express Pipeline LLC impairment charge of $400 million,
partially offset by a $41 million Kinder Morgan receipt.
^(2) Management believes "Income (Loss) before Interest & 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.
^(3) Net Interest Expense includes Interest Income, Interest Expense and
Preferred Dividends of Subsidiaries.
^(4) Includes gain of $277 million related to remeasurement of equity method
investments.

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SOURCE Sempra Energy

Website: http://www.sempra.com
Contact: Media, Doug Kline, Sempra Energy, 1-877-340-8875, www.sempra.com, or
Financial Contact, Victor Vilaplana, Sempra Energy, 1-877-736-7727,
investor@sempra.com
 
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