2012 Q3 Form 10-Q Financial Statement

#000008652112000099 Filed on November 06, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q4 2011 Q3
Revenue $2.507B $2.604B $2.576B
YoY Change -2.68% 11.04% 21.74%
Cost Of Revenue $43.00M $14.00M $68.00M
YoY Change -36.76% -33.33% 209.09%
Gross Profit $2.469B $2.590B $2.508B
YoY Change -1.56% 11.45% 19.77%
Gross Profit Margin 98.48% 99.46% 97.36%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $280.0M $247.0M $251.0M
YoY Change 11.55% 10.76% 15.14%
% of Gross Profit 11.34% 9.54% 10.01%
Operating Expenses $1.922B $2.118B $2.008B
YoY Change -4.28% 8.62% 20.6%
Operating Profit $547.0M $472.0M $500.0M
YoY Change 9.4% 26.2% 16.55%
Interest Expense -$248.0M -$103.0M $118.0M
YoY Change -310.17% 4.04% 6.31%
% of Operating Profit -45.34% -21.82% 23.6%
Other Income/Expense, Net $44.00M $44.00M $12.00M
YoY Change 266.67% 109.52% -81.82%
Pretax Income $329.0M $406.0M $388.0M
YoY Change -15.21% 30.55% 291.92%
Income Tax $49.00M $105.0M $75.00M
% Of Pretax Income 14.89% 25.86% 19.33%
Net Earnings $268.0M $285.0M $289.0M
YoY Change -7.27% 0.71% 120.61%
Net Earnings / Revenue 10.69% 10.94% 11.22%
Basic Earnings Per Share $1.11 $1.19 $1.21
Diluted Earnings Per Share $1.09 $1.18 $1.20
COMMON SHARES
Basic Shares Outstanding 241.7M shares 239.8M shares 239.5M shares
Diluted Shares Outstanding 245.8M shares 241.8M shares 241.9M shares

Balance Sheet

Concept 2012 Q3 2011 Q4 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $530.0M $252.0M $657.0M
YoY Change -19.33% -72.37% 20.11%
Cash & Equivalents $530.0M $252.0M $657.0M
Short-Term Investments
Other Short-Term Assets $192.0M $143.0M $221.0M
YoY Change -13.12% -25.91% -42.45%
Inventory $398.0M $346.0M $369.0M
Prepaid Expenses
Receivables $922.0M $1.198B $951.0M
Other Receivables $531.0M $157.0M $447.0M
Total Short-Term Assets $3.078B $2.332B $2.938B
YoY Change 4.77% -30.66% 17.76%
LONG-TERM ASSETS
Property, Plant & Equipment $24.99B $23.47B $22.70B
YoY Change 10.07% 18.43% 18.12%
Goodwill $1.109B $1.036B $1.013B
YoY Change 9.48% 1090.8%
Intangibles $441.0M $448.0M $448.0M
YoY Change -1.56% -1.1%
Long-Term Investments $296.0M $2.475B $2.567B
YoY Change -88.47% -33.47% -33.82%
Other Assets $767.0M $691.0M $669.0M
YoY Change 14.65% 15.17% -76.21%
Total Long-Term Assets $32.31B $30.92B $29.68B
YoY Change 8.88% 15.07% 12.19%
TOTAL ASSETS
Total Short-Term Assets $3.078B $2.332B $2.938B
Total Long-Term Assets $32.31B $30.92B $29.68B
Total Assets $35.39B $33.25B $32.62B
YoY Change 8.51% 9.98% 12.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.096B $1.107B $1.008B
YoY Change 8.73% 23.0% 41.18%
Accrued Expenses $273.0M $323.0M $266.0M
YoY Change 2.63% 3.86% 7.69%
Deferred Revenue
YoY Change
Short-Term Debt $584.0M $449.0M $641.0M
YoY Change -8.89% 184.18% 11.67%
Long-Term Debt Due $709.0M $336.0M $137.0M
YoY Change 417.52% -3.72% -56.23%
Total Short-Term Liabilities $4.349B $4.152B $3.995B
YoY Change 8.86% 9.67% 5.77%
LONG-TERM LIABILITIES
Long-Term Debt $11.19B $10.08B $10.03B
YoY Change 11.56% 12.23% 24.91%
Other Long-Term Liabilities $7.696B $774.0M $818.0M
YoY Change 840.83% -6.07% -87.54%
Total Long-Term Liabilities $18.89B $774.0M $818.0M
YoY Change 2209.17% -6.07% -94.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.349B $4.152B $3.995B
Total Long-Term Liabilities $18.89B $774.0M $818.0M
Total Liabilities $25.29B $4.926B $4.813B
YoY Change 425.41% 6.85% -75.99%
SHAREHOLDERS EQUITY
Retained Earnings $8.162B $8.048B
YoY Change 11.93%
Common Stock $2.104B $2.089B
YoY Change 3.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.08B $9.775B $9.630B
YoY Change
Total Liabilities & Shareholders Equity $35.39B $33.25B $32.62B
YoY Change 8.51% 9.98% 12.67%

Cashflow Statement

Concept 2012 Q3 2011 Q4 2011 Q3
OPERATING ACTIVITIES
Net Income $268.0M $285.0M $289.0M
YoY Change -7.27% 0.71% 120.61%
Depreciation, Depletion And Amortization $280.0M $247.0M $251.0M
YoY Change 11.55% 10.76% 15.14%
Cash From Operating Activities $536.0M $224.0M $504.0M
YoY Change 6.35% -59.42% 70.85%
INVESTING ACTIVITIES
Capital Expenditures -$1.053B -$1.966B -$502.0M
YoY Change 109.76% 46.72% 21.55%
Acquisitions
YoY Change
Other Investing Activities $258.0M $1.200B -$149.0M
YoY Change -273.15% 73.91% -115.73%
Cash From Investing Activities -$795.0M -$766.0M -$651.0M
YoY Change 22.12% 17.85% -221.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 563.0M 130.0M 406.0M
YoY Change 38.67% -71.92% -186.38%
NET CHANGE
Cash From Operating Activities 536.0M 224.0M 504.0M
Cash From Investing Activities -795.0M -766.0M -651.0M
Cash From Financing Activities 563.0M 130.0M 406.0M
Net Change In Cash 304.0M -412.0M 259.0M
YoY Change 17.37% -212.88% -27.86%
FREE CASH FLOW
Cash From Operating Activities $536.0M $224.0M $504.0M
Capital Expenditures -$1.053B -$1.966B -$502.0M
Free Cash Flow $1.589B $2.190B $1.006B
YoY Change 57.95% 15.75% 42.09%

Facts In Submission

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CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2012Q3 us-gaap Grants Receivable Current
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CY2011Q4 sre Legal Settlement Receivable
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CY2012Q3 us-gaap Short Term Borrowings
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CY2012Q3 us-gaap Accounts Payable Trade Current
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CY2012Q3 us-gaap Accounts Payable Other Current
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CY2012Q3 us-gaap Interest And Dividends Payable Current
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CY2012Q3 us-gaap Employee Related Liabilities Current
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CY2012Q3 us-gaap Customer Deposits Current
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150000000 USD
CY2012Q3 us-gaap Litigation Reserve Current
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CY2012Q3 us-gaap Liabilities Current
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CY2012Q3 us-gaap Long Term Debt And Capital Lease Obligations
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CY2012Q3 us-gaap Customer Advances For Construction
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CY2012Q3 us-gaap Deferred Tax Liabilities Noncurrent
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CY2012Q3 us-gaap Accumulated Deferred Investment Tax Credit
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CY2012Q3 sre Regulatory Liabilities Arising From Removal Obligations
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CY2011Q4 sre Regulatory Balancing Accounts Undercollected
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CY2011Q4 us-gaap Property Plant And Equipment Gross
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CY2011Q4 us-gaap Regulatory Liability Noncurrent
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CY2011Q4 us-gaap Derivative Liabilities Noncurrent
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CY2011Q4 sre Total Deferred Credits And Other Liabilities
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CY2011Q4 sre Contingently Redeemable Preferred Stock Of Subsidiary
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CY2011Q4 us-gaap Common Stock Value
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CY2011Q4 us-gaap Deferred Compensation Equity
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CY2012Q3 us-gaap Stockholders Equity
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CY2011Q4 us-gaap Stockholders Equity
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CY2012Q3 sre Preferred Stock Of Subsidiaries
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CY2011Q4 sre Preferred Stock Of Subsidiaries
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CY2012Q3 us-gaap Minority Interest
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CY2011Q4 us-gaap Minority Interest
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CY2012Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2012Q3 us-gaap Liabilities And Stockholders Equity
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CY2011Q4 us-gaap Liabilities And Stockholders Equity
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CY2012Q3 us-gaap Common Stock Shares Authorized
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CY2011Q4 us-gaap Common Stock Shares Authorized
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CY2012Q3 us-gaap Preferred Stock Shares Authorized
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50000000 shares
CY2011Q4 us-gaap Preferred Stock Shares Authorized
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CY2012Q3 sre Variable Interest Entities Consolidated Carrying Amount Net Property Plant And Equipment
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CY2011Q4 sre Variable Interest Entities Consolidated Carrying Amount Net Property Plant And Equipment
VariableInterestEntitiesConsolidatedCarryingAmountNetPropertyPlantAndEquipment
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CY2012Q3 sre Variable Interest Entities Consolidated Carrying Amount Long Term Debt
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CY2011Q4 sre Variable Interest Entities Consolidated Carrying Amount Long Term Debt
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CY2012Q3 us-gaap Common Stock Shares Outstanding
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CY2011Q4 us-gaap Common Stock Shares Outstanding
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CY2012Q3 us-gaap Deferred Tax Liabilities Current
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CY2011Q4 us-gaap Deferred Tax Liabilities Current
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CY2011Q4 sre Regulatory Balancing Accounts Overcollected
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us-gaap Adjustments Noncash Items To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
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us-gaap Adjustments Noncash Items To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
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us-gaap Deferred Income Taxes And Tax Credits
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sre Increase Decrease In Noncurrent Liabilities
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sre Distributions From Joint Venture Investing Activities
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43000000 USD
sre Distributions From Investments
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sre Proceeds From Sales By Nuclear Decommissioning And Other Trusts
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534000000 USD
sre Proceeds From Sales By Nuclear Decommissioning And Other Trusts
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sre Decrease In Restricted Cash
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sre Decrease In Restricted Cash
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473000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Debt
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us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
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us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2011Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments For Repurchase Of Redeemable Preferred Stock
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sre Preferred Dividends Paid By Subsidiaries
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sre Preferred Dividends Paid By Subsidiaries
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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sre Payments On Debt
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sre Payments On Debt
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sre Proceeds From Sale Of Joint Venture
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us-gaap Payments To Acquire Additional Interest In Subsidiaries
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us-gaap Payments To Minority Shareholders
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us-gaap Payments To Minority Shareholders
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid Net
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us-gaap Income Taxes Paid Net
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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315000000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
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306000000 USD
us-gaap Fair Value Of Assets Acquired
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us-gaap Increase Decrease In Operating Capital
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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sre Fair Value Of Equity Method Investments Immediately Prior To Acquisition Duration
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sre Fair Value Of Noncontrolling Interests Duration
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us-gaap Derivative Gain Loss On Derivative Net
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us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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sre Business Acquisition Cash Consideration Accrued
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us-gaap Fair Value Of Assets Acquired
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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sre Us Treasury Grants Receivable
USTreasuryGrantsReceivable
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CY2012Q3 us-gaap Dividends Payable Current And Noncurrent
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149000000 USD
CY2011Q3 us-gaap Dividends Payable Current And Noncurrent
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sre Us Treasury Grants Receivable Conversion From Itc
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CY2011 sre Cumulative Effect Of Change In Accounting Principle Of Reductions In Net Income And Earnings
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CY2010 sre Cumulative Effect Of Change In Accounting Principle Of Reductions In Net Income And Earnings
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CY2008 sre Cumulative Effect Of Change In Accounting Principle Of Reductions In Net Income And Earnings
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CY2010 us-gaap Cumulative Effect On Retained Earnings Net Of Tax1
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CY2011Q3 us-gaap Business Acquisitions Pro Forma Revenue
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us-gaap Business Acquisitions Pro Forma Revenue
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CY2011Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
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us-gaap Business Acquisitions Pro Forma Net Income Loss
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sre Equity Earnings Losses From Joint Venture
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CY2012Q3 sre Investment In Joint Venture
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CY2012Q3 us-gaap Equity Method Investments
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CY2011Q2 sre Distributions From Joint Venture Total
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CY2012Q3 us-gaap Equity Method Investment Aggregate Cost
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CY2012Q2 sre Equity Method Investment Other Than Temporary Impairment After Tax
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179000000 USD
CY2012Q2 us-gaap Equity Method Investment Other Than Temporary Impairment
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CY2011Q3 sre Equity Earnings Losses From Joint Venture
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CY2011Q3 sre Investment In Joint Venture Other Than Temporary Impairment
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sre Investment In Joint Venture Other Than Temporary Impairment
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sre Investment In Joint Venture Other Than Temporary Impairment After Tax
InvestmentInJointVentureOtherThanTemporaryImpairmentAfterTax
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CY2011Q3 sre Investment In Joint Venture Other Than Temporary Impairment After Tax
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CY2012Q3 us-gaap Equity Method Investment Other Than Temporary Impairment
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CY2012Q3 sre Equity Method Investment Other Than Temporary Impairment After Tax
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CY2011Q3 sre Distributions From Joint Venture Total
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CY2012Q3 us-gaap Energy Related Inventory Natural Gas In Storage
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CY2011Q4 us-gaap Energy Related Inventory Natural Gas In Storage
EnergyRelatedInventoryNaturalGasInStorage
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CY2012Q3 sre Energy Related Inventory Materials And Supplies
EnergyRelatedInventoryMaterialsAndSupplies
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CY2011Q4 sre Energy Related Inventory Materials And Supplies
EnergyRelatedInventoryMaterialsAndSupplies
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CY2012Q3 sre Amounts Associated With Variable Interest Entities Cost Of Electric Fuel And Purchased Power
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sre Amounts Associated With Variable Interest Entities Cost Of Electric Fuel And Purchased Power
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CY2011Q3 sre Amounts Associated With Variable Interest Entities Cost Of Electric Fuel And Purchased Power
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sre Amounts Associated With Variable Interest Entities Cost Of Electric Fuel And Purchased Power
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sre Amounts Associated With Variable Interest Entities Operation And Maintenance
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23000000 USD
sre Amounts Associated With Variable Interest Entities Operation And Maintenance
AmountsAssociatedWithVariableInterestEntitiesOperationAndMaintenance
15000000 USD
CY2011Q3 sre Amounts Associated With Variable Interest Entities Operation And Maintenance
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CY2012Q3 sre Amounts Associated With Variable Interest Entities Operation And Maintenance
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CY2012Q3 sre Amounts Associated With Variable Interest Entities Depreciation And Amortization
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7000000 USD
CY2011Q3 sre Amounts Associated With Variable Interest Entities Depreciation And Amortization
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7000000 USD
sre Amounts Associated With Variable Interest Entities Depreciation And Amortization
AmountsAssociatedWithVariableInterestEntitiesDepreciationAndAmortization
19000000 USD
sre Amounts Associated With Variable Interest Entities Depreciation And Amortization
AmountsAssociatedWithVariableInterestEntitiesDepreciationAndAmortization
20000000 USD
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sre Amounts Associated With Variable Interest Entities Total Operating Expenses
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CY2011Q3 sre Amounts Associated With Variable Interest Entities Total Operating Expenses
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CY2012Q3 sre Amounts Associated With Variable Interest Entities Total Operating Expenses
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CY2012Q3 sre Amounts Associated With Variable Interest Entities Operating Income
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15000000 USD
CY2011Q3 sre Amounts Associated With Variable Interest Entities Operating Income
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21000000 USD
sre Amounts Associated With Variable Interest Entities Operating Income
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32000000 USD
sre Amounts Associated With Variable Interest Entities Operating Income
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12000000 USD
sre Amounts Associated With Variable Interest Entities Other Income Expense Net
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CY2011Q3 sre Amounts Associated With Variable Interest Entities Other Income Expense Net
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CY2012Q3 sre Amounts Associated With Variable Interest Entities Interest Expense
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sre Amounts Associated With Variable Interest Entities Interest Expense
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8000000 USD
sre Amounts Associated With Variable Interest Entities Interest Expense
AmountsAssociatedWithVariableInterestEntitiesInterestExpense
6000000 USD
sre Amounts Associated With Variable Interest Entities Net Income
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6000000 USD
sre Amounts Associated With Variable Interest Entities Net Income
AmountsAssociatedWithVariableInterestEntitiesNetIncome
23000000 USD
CY2011Q3 sre Amounts Associated With Variable Interest Entities Net Income
AmountsAssociatedWithVariableInterestEntitiesNetIncome
21000000 USD
CY2012Q3 sre Amounts Associated With Variable Interest Entities Net Income
AmountsAssociatedWithVariableInterestEntitiesNetIncome
12000000 USD
CY2012Q3 sre Amounts Associated With Variable Interest Entities Earnings Losses Attributable Noncontrollilng Interests
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12000000 USD
CY2011Q3 sre Amounts Associated With Variable Interest Entities Earnings Losses Attributable Noncontrollilng Interests
AmountsAssociatedWithVariableInterestEntitiesEarningsLossesAttributableNoncontrollilngInterests
21000000 USD
sre Amounts Associated With Variable Interest Entities Earnings Losses Attributable Noncontrollilng Interests
AmountsAssociatedWithVariableInterestEntitiesEarningsLossesAttributableNoncontrollilngInterests
23000000 USD
CY2012Q3 sre Secured Debt Vie
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CY2012Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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4113000 shares
CY2011Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2335000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3880000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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2262000 shares
CY2010Q3 us-gaap Accelerated Share Repurchases Settlement Payment Or Receipt
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500000000 USD
CY2011Q1 sre Accelerated Share Repurchases Final Share Delivery
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CY2011Q1 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
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52.22
CY2010Q3 sre Accelerated Share Repurchases Initial Share Delivery
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5670006 shares
CY2010Q4 sre Accelerated Share Repurchases Interim Share Delivery
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2407994 shares
CY2011Q1 sre Accelerated Share Repurchases Interim Share Delivery
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1496435 shares
CY2011Q2 sre Preferred Stock Redeemed
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81000000 USD
CY2011Q2 sre Preferred Stock Redemption Price Per Share Minimum
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100 USD
CY2011Q2 sre Preferred Stock Redemption Price Per Share Maximum
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101.50 USD
CY2011Q2 sre Accrued Preferred Stock Dividends At Redemption Date
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CY2012Q3 us-gaap Allocated Share Based Compensation Expense
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CY2011Q3 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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18000000 USD
us-gaap Allocated Share Based Compensation Expense
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20000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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CY2012Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Interest
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5000000 USD
CY2011Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Interest
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10000000 USD
CY2012Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
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CY2011Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
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CY2012Q3 us-gaap Interest Costs Capitalized
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CY2011Q3 us-gaap Interest Costs Capitalized
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CY2012Q3 sre Capitalized Financing Costs
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31000000 USD
CY2011Q3 sre Capitalized Financing Costs
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42000000 USD
us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
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sre Capitalized Financing Costs
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152000000 USD
us-gaap Interest Costs Capitalized
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40000000 USD
us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Interest
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32000000 USD
us-gaap Interest Costs Capitalized
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20000000 USD
us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Interest
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27000000 USD
sre Capitalized Financing Costs
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us-gaap Segment Reporting Information Revenue
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us-gaap Additions To Noncurrent Assets
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us-gaap Additions To Noncurrent Assets
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
12000000 USD

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