Southern California Gas Co 8-K, filed Feb 25, 2021

Southern California Gas Co (SOCGM)

8-K 2021-02-25 For: 2021-02-25

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Added on April 10, 2026

About this 8-K

Southern California Gas Co filed this 8-K on February 25, 2021.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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555 West Fifth Street, Los Angeles, California						90013
(Address of principal executive offices)						(Zip Code)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
Title of Each Class	Trading Symbol	Name of Each Exchange on Which Registered
None


Exhibit Number						Exhibit Description
99.1						February 25, 2021 Sempra Energy News Release (including tables).
99.2						Sempra Energy's Statement of Operations Data by Segment for the three months and years ended December 31, 2020 and 2019.
104						Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)


			SOUTHERN CALIFORNIA GAS COMPANY,
			(Registrant)

Date: February 25, 2021			By: /s/ Mia L. DeMontigny
			Mia L. DeMontigny Vice President, Controller, Chief Financial Officer and Chief Accounting Officer




Date of Report (Date of earliest event reported):			February 25, 2021


SOUTHERN CALIFORNIA GAS COMPANY
(Exact name of registrant as specified in its charter)



Registrant's telephone number, including area code			(213) 244-1200





(Former name or former address, if changed since last report.)


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



	Three months ended				Years ended
	December 31,				December 31,
(Dollars, except EPS, and shares, in millions)	2020		2019		2020		2019

	(Unaudited)

GAAP Earnings	$	414	$	447	$	3,764	$	2,055

Gain on Sale of South American Businesses	—		—		(1,747)		—

Impacts Associated with Aliso Canyon Litigation and Regulatory Matters	139		—		233		—

Losses from Investment in RBS Sempra Commodities LLP	—		—		100		—

Tax Impacts from Holding the South American Businesses for Sale	—		—		—		(99)

Gain on Sale of Certain Renewables Assets	—		—		—		(45)

Adjusted Earnings(1)	$	553	$	447	$	2,350	$	1,911


GAAP Diluted Weighted-Average Common Shares Outstanding	290		289		292		282
GAAP Earnings Per Diluted Common Share	$	1.43	$	1.55	$	12.88	$	7.29

Adjusted Diluted Weighted-Average Common Shares Outstanding(1)	290		289		306		282
Adjusted Earnings per Diluted Common Share(1),(2)	$	1.90	$	1.55	$	8.03	$	6.78


SEMPRA ENERGY
Table A

CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in millions, except per share amounts; shares in thousands)
	Three months ended December 31,				Years ended December 31,
	2020		2019		2020		2019
	(unaudited)
REVENUES
Utilities	$	2,826	$	2,640	$	10,025	$	9,448
Energy-related businesses	345		303		1,345		1,381
Total revenues	3,171		2,943		11,370		10,829

EXPENSES AND OTHER INCOME
Utilities:
Cost of natural gas	(343)		(350)		(925)		(1,139)
Cost of electric fuel and purchased power	(269)		(259)		(1,187)		(1,188)
Energy-related businesses cost of sales	(76)		(79)		(276)		(344)
Operation and maintenance	(1,174)		(951)		(3,940)		(3,466)
Aliso Canyon litigation and regulatory matters	(180)		—		(307)		—
Depreciation and amortization	(424)		(395)		(1,666)		(1,569)
Franchise fees and other taxes	(146)		(127)		(543)		(496)
Impairment losses	—		—		(1)		(43)
(Loss) gain on sale of assets	(3)		—		(3)		63
Other income (expense), net	115		(26)		(48)		77
Interest income	20		23		96		87
Interest expense	(263)		(280)		(1,081)		(1,077)
Income from continuing operations before income taxes and equity earnings	428		499		1,489		1,734
Income tax expense	(189)		(165)		(249)		(315)
Equity earnings	193		95		1,015		580
Income from continuing operations, net of income tax	432		429		2,255		1,999
Income from discontinued operations, net of income tax	—		71		1,850		363
Net income	432		500		4,105		2,362
Losses (earnings) attributable to noncontrolling interests	29		(18)		(172)		(164)
Preferred dividends	(47)		(35)		(168)		(142)
Preferred dividends of subsidiary	—		—		(1)		(1)
Earnings attributable to common shares	$	414	$	447	$	3,764	$	2,055

Basic earnings per common share (EPS):


Earnings	$	1.43	$	1.57	$	12.93	$	7.40
Weighted-average common shares outstanding	289,009		284,649		291,077		277,904

Diluted EPS:


Earnings	$	1.43	$	1.55	$	12.88	$	7.29
Weighted-average common shares outstanding	290,216		288,767		292,252		282,033


SEMPRA ENERGY
Table A (Continued)

RECONCILIATION OF ADJUSTED EARNINGS TO GAAP EARNINGS
(Dollars in millions, except per share amounts; shares in thousands)
		Pretax amount		Income tax (benefit) expense(1)		Earnings			Pretax amount		Income tax expense (benefit)(1)		Earnings
		Three months ended December 31, 2020						Three months ended December 31, 2019
		(unaudited)
Sempra Energy GAAP Earnings						$	414						$	447
Excluded item:
Impacts associated with Aliso Canyon litigation and regulatory matters		$	180	$	(41)	139			$	—	$	—	—
Sempra Energy Adjusted Earnings						$	553						$	447

Diluted EPS:

Weighted-average common shares outstanding, diluted – GAAP						290,216							288,787
Sempra Energy GAAP EPS						$	1.43						$	1.55
Sempra Energy Adjusted EPS						$	1.90

		Year ended December 31, 2020						Year ended December 31, 2019
Sempra Energy GAAP Earnings						$	3,764						$	2,055
Excluded items:
Impacts associated with Aliso Canyon litigation and regulatory matters		$	307	$	(74)	233			$	—	$	—	—
Losses from investment in RBS Sempra Commodities LLP		100		—		100			—		—		—
Gain on sale of South American businesses		(2,899)		1,152		(1,747)			—		—		—
Gain on sale of certain Sempra Renewables assets		—		—		—			(61)		16		(45)
Associated with holding the South American businesses for sale:
Change in indefinite reinvestment assertion of basis differences and structure of sale of discontinued operations		—		—		—			—		(89)		(89)
Reduction in tax valuation allowance against certain NOL carryforwards		—		—		—			—		(10)		(10)
Sempra Energy Adjusted Earnings						$	2,350						$	1,911

Diluted EPS:
Sempra Energy GAAP Earnings						$	3,764						$	2,055
Weighted-average common shares outstanding, diluted – GAAP						292,252							282,033
Sempra Energy GAAP EPS						$	12.88						$	7.29

Sempra Energy Adjusted Earnings						$	2,350						$	1,911
Add back dividends for dilutive series A preferred stock						104							—
Sempra Energy Adjusted Earnings for Adjusted EPS						$	2,454						$	1,911
Weighted-average common shares outstanding, diluted – Adjusted(2)						305,669							282,033
Sempra Energy Adjusted EPS						$	8.03						$	6.78

(1)	Except for adjustments that are solely income tax and tax related to outside basis differences, income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. We did not record an income tax benefit for the equity losses from our investment in RBS Sempra Commodities LLP because, even though a portion of the liabilities may be deductible under United Kingdom tax law, it is not probable that the deduction will reduce United Kingdom taxes.
(2)	In the year ended December 31, 2020, because the assumed conversion of the series A preferred stock is dilutive for Adjusted Earnings, 13,417 series A preferred stock shares are added back to the denominator used to calculate Adjusted EPS.


RECONCILIATION OF ADJUSTED EPS GUIDANCE RANGE TO GAAP EPS GUIDANCE RANGE

		Full-Year 2020
Sempra Energy GAAP EPS Guidance Range(1)		$	12.02	to	$	12.62
Excluded items:
	Impacts associated with Aliso Canyon litigation and regulatory matters	0.80			0.80
	Losses from investment in RBS Sempra Commodities LLP	0.34			0.34
	Gain on sale of South American businesses	(5.96)			(5.96)
Sempra Energy Adjusted EPS Guidance Range		$	7.20	to	$	7.80
Weighted-average common shares outstanding, diluted (millions)(2)					293

(1)	Sempra Energy's prior GAAP EPS Guidance Range for full-year 2020 has been updated to reflect additional impacts associated with the Aliso Canyon natural gas storage facility litigation and regulatory matters.
(2)	Weighted-average common shares outstanding does not include the dilutive effect of mandatory convertible preferred stock, as they are assumed to be antidilutive for full-year 2020. If such mandatory convertible preferred stock were dilutive for the full year, the 2020 GAAP EPS Guidance Range would differ from the range presented above.


SEMPRA ENERGY
Table B

CONSOLIDATED BALANCE SHEETS
(Dollars in millions)
	December 31,
	2020		2019
ASSETS
Current assets:
Cash and cash equivalents	$	960	$	108
Restricted cash	22		31
Accounts receivable – trade, net	1,578		1,261
Accounts receivable – other, net	403		455
Due from unconsolidated affiliates	20		32
Income taxes receivable	113		112
Inventories	308		277
Regulatory assets	190		222
Greenhouse gas allowances	553		72
Assets held for sale in discontinued operations	—		445
Other current assets	364		324
Total current assets	4,511		3,339

Other assets:
Restricted cash	3		3
Due from unconsolidated affiliates	780		742
Regulatory assets	1,822		1,930
Nuclear decommissioning trusts	1,019		1,082
Investment in Oncor Holdings	12,440		11,519
Other investments	1,388		2,103
Goodwill	1,602		1,602
Other intangible assets	202		213
Dedicated assets in support of certain benefit plans	512		488
Insurance receivable for Aliso Canyon costs	445		339
Deferred income taxes	136		155
Greenhouse gas allowances	101		470
Right-of-use assets – operating leases	543		591
Wildfire fund	363		392
Assets held for sale in discontinued operations	—		3,513
Other long-term assets	753		732
Total other assets	22,109		25,874
Property, plant and equipment, net	40,003		36,452
Total assets	$	66,623	$	65,665


SEMPRA ENERGY
Table D (Continued)

RECONCILIATION OF CAPITAL DEPLOYED
(Dollars in millions)
		Years ended December 31,
		2020		2019
		(unaudited)
Sempra Energy
Expenditures for property, plant and equipment		$	4,676	$	3,708
Expenditures for investments and acquisitions		652		1,797
Total Capital Expenditures, Investments and Acquisitions (On Balance Sheet)		5,328		5,505
Exclude:
Capital contribution to Oncor for Oncor's acquisition of 100% of InfraREIT and Sempra's acquisition of a 50% indirect interest in Sharyland		—		(1,162)
Acquisition of 1% interest in Texas Transmission Holdings Corporation (TTHC) from Hunt		(16)		—
Total Capital Expenditures and Investments (On Balance Sheet)	A	5,312		4,343

Oncor Electric Delivery Company LLC
Capital expenditures (100%)		2,540		2,097
Total Capital Expenditures (Off Balance Sheet)		2,540		2,097

Sharyland Utilities
Capital expenditures (100%)		5		2
Total Capital Expenditures (Off Balance Sheet)		5		2

Sempra Texas Utilities - Proportionate Ownership Share of Unconsolidated Entities
80.25% of Oncor Electric Delivery Company LLC capital expenditures		2,038		1,683
50% of Sharyland Utilities capital expenditures		3		1
Less:
Sempra Texas Utilities investments and acquisitions (On Balance Sheet)		(648)		(1,685)
Add Back:
Sempra Texas Utilities acquisitions (On Balance Sheet)(1)		16		1,162
Capital Expenditures, Investments and Acquisitions - Sempra Texas Utilities (Off Balance Sheet)		1,409		1,161

Capital Expenditures - Unconsolidated Joint Ventures at Sempra LNG and Sempra Mexico (Off Balance Sheet)(2)		228		446

Total Capital Expenditures, Investments and Acquisitions of Unconsolidated Entities (Off Balance Sheet)	B	1,637		1,607

Total Capital Deployed	A+B	$	6,949	$	5,950


	SEMPRA ENERGY
	Table E

OTHER OPERATING STATISTICS

		Three months ended December 31,		Years ended or at December 31,
		2020	2019	2020	2019
		(unaudited)
UTILITIES
SDG&E and SoCalGas
Gas sales (Bcf)(1)		98	103	355	374
Transportation (Bcf)(1)		161	149	612	573
Total deliveries (Bcf)(1)		259	252	967	947

Total gas customer meters (thousands)				6,967	6,924

SDG&E
Electric sales (millions of kWhs)(1)		3,751	3,601	14,398	14,397
Direct Access and Community Choice Aggregation (millions of kWhs)		952	909	3,482	3,549
Total deliveries (millions of kWhs)(1)		4,703	4,510	17,880	17,946

Total electric customer meters (thousands)				1,483	1,471

Oncor(2)
Total deliveries (millions of kWhs)		30,615	30,916	131,157	133,378
Total electric customer meters (thousands)				3,762	3,685

Ecogas
Natural gas sales (Bcf)		1	1	3	3
Natural gas customer meters (thousands)				136	132

ENERGY-RELATED BUSINESSES
Power generated and sold
Sempra Mexico
Termoeléctrica de Mexicali (TdM) (millions of kWhs)		729	1,011	2,905	3,873
Wind and solar (millions of kWhs)(3)		420	333	1,724	1,442

(1)	Includes intercompany sales.
(2)	Includes 100% of the electric deliveries and customer meters of Oncor Electric Delivery Company LLC (Oncor), in which we hold an indirect 80.25% interest through our investment in Oncor Electric Delivery Holdings Company LLC.


SEMPRA ENERGY
Table B (Continued)

CONSOLIDATED BALANCE SHEETS (CONTINUED)
(Dollars in millions)
	December 31,
	2020		2019
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt	$	885	$	3,505
Accounts payable – trade	1,359		1,234
Accounts payable – other	154		179
Due to unconsolidated affiliates	45		5
Dividends and interest payable	551		515
Accrued compensation and benefits	446		476
Regulatory liabilities	140		319
Current portion of long-term debt and finance leases	1,540		1,526
Reserve for Aliso Canyon costs	150		9
Greenhouse gas obligations	553		72
Liabilities held for sale in discontinued operations	—		444
Other current liabilities	1,016		866
Total current liabilities	6,839		9,150

Long-term debt and finance leases	21,781		20,785

Deferred credits and other liabilities:
Due to unconsolidated affiliates	234		195
Pension and other postretirement benefit plan obligations, net of plan assets	1,059		1,067
Deferred income taxes	2,871		2,577

Regulatory liabilities	3,372		3,741
Reserve for Aliso Canyon costs	301		7
Asset retirement obligations	3,113		2,923
Greenhouse gas obligations	—		301
Liabilities held for sale in discontinued operations	—		1,052
Deferred credits and other	2,119		2,062
Total deferred credits and other liabilities	13,069		13,925
Equity:
Sempra Energy shareholders’ equity	23,373		19,929
Preferred stock of subsidiary	20		20
Other noncontrolling interests	1,541		1,856
Total equity	24,934		21,805
Total liabilities and equity	$	66,623	$	65,665


SEMPRA ENERGY
Table C

CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in millions)
	Years ended December 31,
	2020		2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	4,105	$	2,362
Less: Income from discontinued operations, net of income tax	(1,850)		(363)
Income from continuing operations, net of income tax	2,255		1,999
Adjustments to reconcile net income to net cash provided by operating activities	1,042		1,259
Net change in other working capital components	(550)		(207)
Distributions from investments	651		247
Insurance receivable for Aliso Canyon costs	(106)		122
Wildfire fund, current and noncurrent	—		(323)
Reserve for Aliso Canyon costs, noncurrent	294		—
Changes in other noncurrent assets and liabilities, net	56		(399)
Net cash provided by continuing operations	3,642		2,698
Net cash (used in) provided by discontinued operations	(1,051)		390
Net cash provided by operating activities	2,591		3,088

CASH FLOWS FROM INVESTING ACTIVITIES
Expenditures for property, plant and equipment	(4,676)		(3,708)
Expenditures for investments and acquisitions	(652)		(1,797)
Proceeds from sale of assets	19		899
Distributions from investments	761		9
Purchases of nuclear decommissioning trust assets	(1,439)		(914)
Proceeds from sales of nuclear decommissioning trust assets	1,439		914
Advances to unconsolidated affiliates	(92)		(16)
Repayments of advances to unconsolidated affiliates	7		3
Intercompany activities with discontinued operations, net	—		8
Other	15		21
Net cash used in continuing operations	(4,618)		(4,581)
Net cash provided by (used in) discontinued operations	5,171		(12)
Net cash provided by (used in) investing activities	553		(4,593)

CASH FLOWS FROM FINANCING ACTIVITIES
Common dividends paid	(1,174)		(993)
Preferred dividends paid	(157)		(142)
Issuances of preferred stock, net	891		—
Issuances of common stock, net	11		1,830
Repurchases of common stock	(566)		(26)
Issuances of debt (maturities greater than 90 days)	6,051		4,296
Payments on debt (maturities greater than 90 days) and finance leases	(5,864)		(3,667)
(Decrease) increase in short-term debt, net	(1,759)		656
Advances from unconsolidated affiliates	64		155
Proceeds from sale of noncontrolling interests, net	26		5
Purchases of noncontrolling interests	(248)		(30)
Contributions from noncontrolling interests, net	1		98
Intercompany activities with discontinued operations, net	—		(266)
Other	(50)		(49)
Net cash (used in) provided by continuing operations	(2,774)		1,867
Net cash provided by (used in) discontinued operations	401		(392)
Net cash (used in) provided by financing activities	(2,373)		1,475

Effect of exchange rate changes in continuing operations	—		—
Effect of exchange rate changes in discontinued operations	(3)		1
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(3)		1

Increase (decrease) in cash, cash equivalents and restricted cash, including discontinued operations	768		(29)
Cash, cash equivalents and restricted cash, including discontinued operations, January 1	217		246
Cash, cash equivalents and restricted cash, including discontinued operations, December 31	$	985	$	217


SEMPRA ENERGY
Table D

SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES, INVESTMENTS AND ACQUISITIONS
(Dollars in millions)
	Three months ended December 31,				Years ended December 31,
	2020		2019		2020		2019
	(unaudited)
Earnings (Losses) Attributable to Common Shares
SDG&E	$	191	$	185	$	824	$	767
SoCalGas	79		204		504		641
Sempra Texas Utilities	121		109		579		528
Sempra Mexico	(43)		39		259		253
Sempra LNG	113		(19)		320		(6)
Sempra Renewables	—		—		—		59
Parent and other	(47)		(132)		(562)		(515)
Discontinued operations	—		61		1,840		328
Total	$	414	$	447	$	3,764	$	2,055


	Three months ended December 31,				Years ended December 31,
	2020		2019		2020		2019
	(unaudited)
Capital Expenditures, Investments and Acquisitions
SDG&E	$	619	$	451	$	1,942	$	1,522
SoCalGas	498		420		1,843		1,439
Sempra Texas Utilities	423		347		648		1,685
Sempra Mexico	168		204		611		624
Sempra LNG	72		39		272		222
Sempra Renewables	—		—		—		2
Parent and other	6		5		12		11
Total	$	1,786	$	1,466	$	5,328	$	5,505


SEMPRA ENERGY
Table F (Unaudited)

STATEMENT OF OPERATIONS DATA BY SEGMENT
(Dollars in millions)

Three months ended December 31, 2020		SDG&E		SoCalGas		Sempra Texas Utilities		Sempra Mexico		Sempra LNG		Consolidating Adjustments, Parent & Other		Total
Revenues		$	1,337	$	1,501	$	—	$	321	$	119	$	(107)	$	3,171
Cost of sales and other expenses		(813)		(1,165)		—		(173)		(118)		81		(2,188)
Depreciation and amortization		(203)		(168)		—		(48)		(2)		(3)		(424)

Loss on sale of assets		—		—		—		—		—		(3)		(3)
Other income (expense), net		5		(49)		—		134		—		25		115
Income (loss) before interest and tax(1)		326		119		—		234		(1)		(7)		671
Net interest (expense) income		(106)		(39)		—		(24)		12		(86)		(243)
Income tax (expense) benefit		(29)		(1)		(1)		(218)		(33)		93		(189)
Equity earnings (losses), net		—		—		122		(63)		134		—		193
Losses attributable to noncontrolling interests		—		—		—		28		1		—		29
Preferred dividends		—		—		—		—		—		(47)		(47)
Earnings (losses) attributable to common shares		$	191	$	79	$	121	$	(43)	$	113	$	(47)	$	414




Three months ended December 31, 2019		SDG&E		SoCalGas		Sempra Texas Utilities		Sempra Mexico		Sempra LNG		Consolidating Adjustments, Parent & Other		Total
Revenues		$	1,259	$	1,383	$	—	$	317	$	83	$	(99)	$	2,943
Cost of sales and other expenses		(705)		(847)		—		(153)		(112)		51		(1,766)
Depreciation and amortization		(189)		(153)		—		(47)		(3)		(3)		(395)


Other (expense) income, net		(21)		(73)		—		70		—		(2)		(26)
Income (loss) before interest and tax(1)		344		310		—		187		(32)		(53)		756
Net interest expense		(99)		(36)		—		(10)		(1)		(111)		(257)
Income tax (expense) benefit		(60)		(70)		—		(111)		9		67		(165)
Equity earnings (losses), net		—		—		109		(19)		5		—		95
Earnings attributable to noncontrolling interests		—		—		—		(8)		—		—		(8)
Preferred dividends		—		—		—		—		—		(35)		(35)
Earnings (losses) from continuing operations		$	185	$	204	$	109	$	39	$	(19)	$	(132)	386
Earnings from discontinued operations														61
Earnings attributable to common shares														$	447

(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.


SEMPRA ENERGY
Table F

STATEMENT OF OPERATIONS DATA BY SEGMENT
(Dollars in millions)

Year ended December 31, 2020		SDG&E		SoCalGas		Sempra Texas Utilities		Sempra Mexico		Sempra LNG		Sempra Renewables		Consolidating Adjustments, Parent & Other		Total
Revenues		$	5,313	$	4,748	$	—	$	1,256	$	374	$	—	$	(321)	$	11,370
Cost of sales and other expenses		(3,139)		(3,309)		—		(581)		(384)		—		234		(7,179)
Depreciation and amortization		(801)		(654)		—		(189)		(9)		—		(13)		(1,666)

Loss on sale of assets		—		—		—		—		—		—		(3)		(3)
Other income (expense), net		52		(28)		—		(77)		—		—		5		(48)
Income (loss) before interest and tax(1)		1,425		757		—		409		(19)		—		(98)		2,474
Net interest (expense) income		(411)		(156)		—		(72)		38		—		(384)		(985)
Income tax (expense) benefit		(190)		(96)		(1)		(57)		(92)		—		187		(249)
Equity earnings (losses), net		—		—		580		144		391		—		(100)		1,015
(Earnings) losses attributable to noncontrolling interests		—		—		—		(165)		2		—		1		(162)
Preferred dividends		—		(1)		—		—		—		—		(168)		(169)
Earnings (losses) from continuing operations		$	824	$	504	$	579	$	259	$	320	$	—	$	(562)	1,924
Earnings from discontinued operations																1,840
Earnings attributable to common shares																$	3,764


Year ended December 31, 2019		SDG&E		SoCalGas		Sempra Texas Utilities		Sempra Mexico		Sempra LNG		Sempra Renewables		Consolidating Adjustments, Parent & Other		Total
Revenues		$	4,925	$	4,525	$	—	$	1,375	$	410	$	10	$	(416)	$	10,829
Cost of sales and other expenses		(2,846)		(2,930)		—		(649)		(462)		(20)		274		(6,633)
Depreciation and amortization		(760)		(602)		—		(183)		(10)		—		(14)		(1,569)
Impairment losses		(6)		(37)		—		—		—		—		—		(43)
Gain on sale of assets		—		—		—		—		—		61		2		63
Other income (expense), net		39		(55)		—		76		—		—		17		77
Income (loss) before interest and tax(1)		1,352		901		—		619		(62)		51		(137)		2,724
Net interest (expense) income		(407)		(139)		—		(41)		26		8		(437)		(990)
Income tax (expense) benefit		(171)		(120)		—		(227)		5		(4)		202		(315)
Equity earnings (losses), net		—		—		528		24		24		5		(1)		580
(Earnings) losses attributable to noncontrolling interests		(7)		—		—		(122)		1		(1)		—		(129)
Preferred dividends		—		(1)		—		—		—		—		(142)		(143)
Earnings (losses) from continuing operations		$	767	$	641	$	528	$	253	$	(6)	$	59	$	(515)	1,727
Earnings from discontinued operations																328
Earnings attributable to common shares																$	2,055

(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.