SPOTLIGHT | PORT ARTHUR LNG PHASE 1
ADJUSTED EARNINGS AND ADJUSTED EPS
(UNAUDITED)
(Dollars in millions, except per share amounts; shares in thousands)
Sempra GAAP Earnings (Losses)
Excluded items:
Income tax
Pretax
(benefit)
amount
expense¹
Non-
controlling
interests
Earnings
Three months ended September 30, 2022
$
485
Income tax
Pretax
amount
(benefit)
expense¹
Three months ended September 30, 2021
Non-
controlling
interests
(Losses)
earnings
$
(648)
Impacts associated with Aliso Canyon litigation and regulatory
matters
$
122 $
(21) $
101
$
1,571 $
(439) $
1,132
Impact from foreign currency and inflation on our monetary positions
in Mexico and associated undesignated derivatives
1
(4)
1
(2)
Net unrealized losses on commodity derivatives
77
(17)
(22)
38
4
120
(33)
1
(28)
(32)
1
89
622
$
545
Sempra Adjusted Earnings
Diluted EPS:
Sempra GAAP Earnings (Losses)
Weighted-average common shares outstanding, diluted
Sempra GAAP EPS
Sempra Adjusted Earnings
$
485
$
(648)
316,087
319,144
$
1.53
$
(2.03)
$
622
$
545
Weighted-average common shares outstanding, diluted - Adjusted²
Sempra Adjusted EPS
316,087
320,483
$
1.97
$
1.70
Nine months ended September 30, 2022
Nine months ended September 30, 2021
Sempra GAAP Earnings
Excluded items:
$
1,656
$
650
Impacts associated with Aliso Canyon litigation and regulatory
matters
$
259 $
(60) $
199
$
1,571
$
(439) $
1,132
Impact from foreign currency and inflation on our monetary positions
in Mexico and associated undesignated derivatives
Net unrealized losses on commodity derivatives
Deferred income tax expense associated with the change in our
indefinite reinvestment assertion related to the sale of NCI to ADIA
Earnings from investment in RBS Sempra Commodities LLP
Sempra Adjusted Earnings
Diluted EPS:
Sempra GAAP Earnings
30
183
80
(21)
89
36
8
(3)
41
(42)
(33)
108
245
(67)
(2)
176
120
120
(50)
$
2,172
(50)
$
1,949
Weighted-average common shares outstanding, diluted
Sempra GAAP EPS
Sempra Adjusted Earnings
Weighted-average common shares outstanding, diluted
Sempra Adjusted EPS
$
1,656
316,457
$
5.23
$
2,172
316,457
$
6.87
$
650
310,854
$
2.09
$
1,949
310,854
$
6.27
1. Except for adjustments that are solely income tax, income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. We did not record an income tax expense for the equity
earnings from our investment in RBS Sempra Commodities LLP because, even though a portion of the liabilities may be deductible under United Kingdom tax law, it is not probable that the deduction will reduce
United Kingdom taxes.
2. In the three months ended September 30, 2021, the total weighted-average number of potentially dilutive securities of 699 were not included in the computation of GAAP EPS because to do so
would have decreased losses per share, additionally because the conversion of the series B preferred stock is dilutive for Adjusted Earnings, 640 series B preferred stock shares are added back to
the denominator used to calculate Adjusted EPS.
SEMPRA
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