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FINANCIAL HIGHLIGHTS

At December 31 or for the years then ended
(Dollars in millions, except per-share amounts)

2003
2002
Percent
Change


CONSOLIDATED FINANCIAL DATA

Operating Revenues $ 7,887 $ 6,048
30.4 %
Net Income $ 649 $ 591
9.8
Net Income Per Share of Common Stock:
     Basic $ 3.07 $ 2.88
6.6
     Diluted $ 3.03 $ 2.87
5.6
Weighted Average Number of Common Shares
     Outstanding (diluted, in millions)
214.5
206.1
4.1
Total Assets $ 22,009 $ 20,242
8.7
Common Dividends Declared Per Share $ 1.00 $ 1.00
Debt to Total Capitalization
57 % 60 %
Book Value Per Share $ 17.17 $ 13.79
24.5
Capital Expenditures & Investments $ 1,251 $ 1,643
-23.9

STATISTICS

Natural Gas Throughput (a) (billions of cubic feet)
934
982
-4.9 %
Electric Energy On-System Sales (a) (billions of kilowatt hours)
18.4
17.7
4.0
Number of Customers (a) (millions of meters served)
     Natural Gas
6.2
6.1
1.6
     Electricity
1.3
1.3
Return on Common Equity
     Sempra Energy
19.3 % 21.4 %
     SoCalGas
15.6 % 16.2 %
     SDG&E
27.7 % 18.2 %
Number of Employees (b)
12,807
12,197
5.0

(a) California utilities.
(b) Excludes contract and part-time employees.