10-K/APeriod: FY2010

SEMPRA Annual Report (Amendment), Year Ended Dec 31, 2010

Filed March 31, 2011For Securities:SRESREA

Summary

This filing is an amendment (10-K/A) to Sempra Energy's (SRE) 2010 Annual Report, primarily to include financial statements for RBS Sempra Commodities LLP and Subsidiaries. Sempra Energy accounts for its investment in RBS Sempra Commodities using the equity method. The amendment does not alter Sempra Energy's previously reported financial position, results of operations, or cash flows as of the original filing date of February 24, 2011. Investors should note that this amendment provides supplementary financial information related to a significant investment and does not reflect any new developments or financial performance of Sempra Energy itself beyond the original report. For investors, the key takeaway is that this is a procedural filing to incorporate missing subsidiary financial data. The core financial health and operational performance of Sempra Energy for 2010 remain as originally reported. The additional information pertains to a specific joint venture and its financial performance, which is accounted for on an equity basis by Sempra. Therefore, while important for a complete understanding of the company's consolidated entities, it does not change the original 10-K's narrative on Sempra Energy's standalone performance.

Financial Statements
Beta
Revenue$9.00B
Interest Expense$436.00M
Net Income$709.00M
EPS (Basic)$1.45
EPS (Diluted)$1.43
Shares Outstanding (Basic)489.47M
Shares Outstanding (Diluted)495.88M

Key Highlights

  • 1Amendment No. 1 to the 2010 Form 10-K filed to include financial statements of RBS Sempra Commodities LLP and Subsidiaries.
  • 2Sempra Energy accounts for its investment in RBS Sempra Commodities using the equity method of accounting.
  • 3The amendment includes unaudited financial statements for RBS Sempra Commodities for the year ended December 31, 2010.
  • 4Audited financial statements for RBS Sempra Commodities for the year ended December 31, 2009, and the period from April 1, 2008, to December 31, 2008, are also included.
  • 5This amendment does not modify Sempra Energy's original financial position, results of operations, or cash flows reported on February 24, 2011.
  • 6The filing provides supplementary information for investors seeking a comprehensive view of Sempra's consolidated entities.
  • 7This is a procedural filing; no new information on Sempra Energy's core business performance is introduced beyond the original 10-K.

Frequently Asked Questions

Sempra Energy is filing this amendment to include the consolidated financial statements of RBS Sempra Commodities LLP and Subsidiaries, which were not available at the time of the original 10-K filing on February 24, 2011. Sempra accounts for its investment in RBS Sempra Commodities using the equity method.

No, this amendment does not change or update Sempra Energy's previously reported financial position, results of operations, or cash flows for the fiscal year ended December 31, 2010. It solely adds supplementary financial information for a subsidiary investment.

RBS Sempra Commodities is an entity in which Sempra Energy has an investment accounted for under the equity method. This amendment provides its financial statements to offer a more complete picture of Sempra's consolidated interests.

For existing SRE investors, this filing is primarily procedural and provides additional detail on a specific investment. It does not introduce new information about Sempra Energy's core business performance or overall financial health as originally reported in their 2010 10-K.