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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2000
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Commission file number 1-40
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PACIFIC ENTERPRISES
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(Exact name of registrant as specified in its charter)
California 94-0743670
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
555 West Fifth Street, Los Angeles, California 90013-1011
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(Address of principal executive offices)
(Zip Code)
(213) 244-1200
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(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90
days.
Yes X No
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Common stock outstanding: Wholly owned by Sempra Energy
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
PACIFIC ENTERPRISES AND SUBSIDIARIES
STATEMENTS OF CONSOLIDATED INCOME
Dollars in millions
Three Months Ended
June 30,
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2000 1999
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Operating revenues $630 $621
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Expenses
Cost of natural gas distributed 264 241
Operating and maintenance 168 196
Depreciation 67 65
Income taxes 44 35
Other taxes and franchise payments 22 20
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Total 565 557
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Operating Income 65 64
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Other Income and (Deductions)
Interest income 20 4
Regulatory interest (5) (4)
Allowance for equity funds used
during construction 1 --
Taxes on non-operating income (2) --
Preferred dividends of subsidiaries (1) 1
Other - net 2 (6)
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Total 15 (5)
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Income Before Interest Charges 80 59
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Interest Charges
Long-term debt 16 20
Other 15 --
Allowance for borrowed funds used
during construction -- (1)
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Total 31 19
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Net Income 49 40
Preferred Dividend Requirements 1 1
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Earnings Applicable to Common Shares $ 48 $ 39
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See notes to Consolidated Financial Statements.
UT