SHARE-BASED COMPENSATION (Tables)
|
12 Months Ended |
Dec. 31, 2016 |
|---|
| Share-based Compensation [Abstract] |
|
| Schedule Of Share-based Compensation Expense |
Expenses and capitalized compensation costs recorded by SDG&E and SoCalGas were as follows: | | | | | | | | | | | | | SHARE-BASED COMPENSATION EXPENSE – SDG&E AND SOCALGAS | (Dollars in millions) | | Years ended December 31, | | 2016 | | 2015 | | 2014 | SDG&E: | | | | | | Share-based compensation expense, before income taxes | $ | 7 |
| | $ | 8 |
| | $ | 8 |
| Income tax benefit | (3 | ) | | (3 | ) | | (3 | ) | | $ | 4 |
| | $ | 5 |
| | $ | 5 |
| | | | | | | Capitalized share-based compensation cost | $ | 4 |
| | $ | 4 |
| | $ | 3 |
| | | | | | | SoCalGas: | |
| | |
| | |
| Share-based compensation expense, before income taxes | $ | 8 |
| | $ | 10 |
| | $ | 8 |
| Income tax benefit | (3 | ) | | (4 | ) | | (3 | ) | | $ | 5 |
| | $ | 6 |
| | $ | 5 |
| | | | | | | Capitalized share-based compensation cost | $ | 3 |
| | $ | 2 |
| | $ | 2 |
|
Total share-based compensation expense for all of Sempra Energy’s share-based awards was comprised as follows: | | | | | | | | | | | | | SHARE-BASED COMPENSATION EXPENSE – SEMPRA ENERGY CONSOLIDATED | (Dollars in millions, except per share amounts) | | Years ended December 31, | | 2016 | | 2015 | | 2014 | Share-based compensation expense, before income taxes | $ | 46 |
| | $ | 48 |
| | $ | 46 |
| Income tax benefit | (18 | ) | | (19 | ) | | (18 | ) | | $ | 28 |
| | $ | 29 |
| | $ | 28 |
| | | | | | | Excess income tax benefit | $ | (34 | ) | | $ | — |
| | $ | — |
|
|
| Schedule Of Non-qualified Stock Options |
The following table shows a summary of non-qualified stock options at December 31, 2016 and activity for the year then ended: | | | | | | | | | | | | | | NON-QUALIFIED STOCK OPTIONS | | | | | | | | | | Shares under option | | Weighted- average exercise price | | Weighted- average remaining contractual term (in years) | | Aggregate intrinsic value (in millions) | Outstanding at January 1, 2016 | 527,997 |
| | $ | 53.62 |
| | | | | Exercised | (167,742 | ) | | $ | 56.11 |
| | | | | Outstanding at December 31, 2016 | 360,255 |
| | $ | 52.46 |
| | 2.0 | | $ | 17 |
| | | | | | | | | Vested at December 31, 2016 | 360,255 |
| | $ | 52.46 |
| | 2.0 | | $ | 17 |
| Exercisable at December 31, 2016 | 360,255 |
| | $ | 52.46 |
| | 2.0 | | $ | 17 |
|
|
| Schedule Of Restricted Stock Awards And Units Valuation Assumptions |
Below are key assumptions for awards granted in 2016, 2015 and 2014 for Sempra Energy: | | | | | | | | | | KEY ASSUMPTIONS FOR AWARDS GRANTED | | | Years ended December 31, | | 2016 | | 2015 | | 2014 | Risk-free rate of return | 1.3 | % | | 1.1 | % | | 1.2 | % | Stock price volatility | 16 |
| | 14 |
| | 16 |
|
|
| Schedule Of Restricted Stock Awards |
We provide below a summary of Sempra Energy’s RSAs at December 31, 2016 and the activity during the year. | | | | | | | | RESTRICTED STOCK AWARDS | | | | | | Shares | | Weighted-average grant-date fair value | Nonvested at January 1, 2016 | 1,537 |
| | $ | 75.87 |
| Vested | (1,537 | ) | | $ | 75.87 |
| Nonvested at December 31, 2016 | — |
| | $ | — |
|
|
| Schedule Of Restricted Stock Units |
We provide below a summary of Sempra Energy’s RSUs as of December 31, 2016 and the activity during the year. | | | | | | | | | | | | | | | RESTRICTED STOCK UNITS | | | | | | | | | | | | Performance-based restricted stock units | | Service-based restricted stock units | | Units | | Weighted- average grant-date fair value | | Units | | Weighted- average
grant-date
fair value | Nonvested at January 1, 2016 | 2,271,675 |
| | $ | 73.28 |
| | 348,806 |
| | $ | 80.14 |
| Granted | 467,830 |
| | $ | 100.37 |
| | 95,876 |
| | $ | 93.59 |
| Vested | (761,042 | ) | | $ | 49.28 |
| | (135,456 | ) | | $ | 65.20 |
| Forfeited | (24,141 | ) | | $ | 115.73 |
| | (3,490 | ) | | $ | 90.58 |
| Nonvested at December 31, 2016(1) | 1,954,322 |
| | $ | 88.58 |
| | 305,736 |
| | $ | 94.68 |
| Expected to vest at December 31, 2016 | 1,883,636 |
| | $ | 88.07 |
| | 293,822 |
| | $ | 90.58 |
|
| | (1) | Each RSU represents the right to receive one share of our common stock if applicable performance conditions are satisfied. For all performance-based RSUs, except for those issued in connection with the creation of Cameron LNG JV, up to an additional 50 percent (100 percent for awards granted during or after 2014) of the shares represented by the RSUs may be issued if Sempra Energy exceeds target performance conditions. |
|