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PACIFIC ENTERPRISES
555 West Fifth Street
Los Angeles, California 90071-2006
November 14, 1997
Securities and Exchange Commission
Washington, D.C. 20549
Gentlemen:
Pursuant to the requirements of the Securities Exchange Act of 1934, we are
transmitting herewith an amended Form 10-Q for the period ending September
30, 1997.
Sincerely,
PACIFIC ENTERPRISES
Ralph Todaro
Vice President and Controller
(Chief Financial Officer
and duly authorized signatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1997
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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, Suite 2900, Los Angeles, California 90013-1011
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(Address of principal executive offices)
(Zip Code)
(213) 895-5000
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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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The number of shares of common stock outstanding on November 3, 1997 was
83,389,972.
Amendment number one to Pacific Enterprises'Form 10-Q for the quarterly
period ended September 30, 1997.
Paragraph number six under the caption SOCALGAS OPERATIONS on page 12 in
Management's Decision and Analysis is amended as follows:
Operating and maintenance expenses for the three months and nine months ended
September 30, 1997, decreased $3 million and increased $2 million,
respectively,compared to the same periods in 1996. The decrease for the
three month period ended September 30, 1997, is primarily due to SoCalGas'
continued efforts to reduce costs. The increase for the nine months ended
September 30, 1997 is primarily due to benefits received in 1996 of $9.5
million, pre-tax, representing a non-recurring litigation settlement
which reduced operating and maintenance expenses and higher expenses
related to increased storage activities in 1997. These items contributing
to the increase from 1996 to 1997 were partially offset by SoCalGas'
continued efforts to reduce costs in 1997.
Paragraph number one under the caption PARENT COMPANY on page 15 in
Management's Discussion and Analysis is amended as follows:
Parent company interest expense, excluding merger related expenses, for the
three months ended September 30, 1996 was $7.4 million, after-tax, compared
to $3.5 million, after-tax for the same period of 1996. For the nine months
ended September 30, 1997, Parent company and interest expense were $20.6
million compared to $9.9 million in 1996. For the nine months ended
September 30, 1997, the parent incurred $2 million, after-tax, of employee
labor charges relating to the merger. For the same period, the
Parent also incurred $3.5 million, after-tax, in stock option expenses
compared to $1.7 million in 1996. Parent expenses for the nine
months ended September 30, 1997, also include stock appreciation rights
charged to subsidiaries throughout 1996. The expenses will be charged to
subsidiaries during the fourth quarter of 1997, thereby eliminating the
increase from 1996.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PACIFIC ENTERPRISES
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(Registrant)
/s/ Ralph Todaro
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Ralph Todaro
Vice President and Controller
(Chief Accounting Officer and
duly authorized signatory)
Date: November 14, 1997