Adjusted Earnings and Adjusted EPS Presentation
Adjusted Earnings (Losses) by Business Units
(Unaudited)
1
Three months ended September 30, 2023
(Dollars in millions)
GAAP Earnings (Losses)
SDGE
SoCalGas
Sempra
California
Sempra Texas
Utilities
Sempra
Infrastructure
Parent &
Other
Total
Sempra
$
274 $
16 $
290 $
305 $
223 $
(97) $
721
Impact from foreign currency and inflation on our monetary positions in Mexico, net of $49 income tax benefit
and $16 for NCI
(36)
(36)
Net unrealized gains on commodity derivatives, net of $2 income tax expense
Adjusted Earnings (Losses)
$
274 $
16 $
290 $
305 $
187 $
(97) $
685
GAAP Earnings (Losses)
Impact associated with Aliso Canyon litigation and regulatory matters, net of $21 income tax benefit
Impact from foreign currency and inflation on our monetary positions in Mexico, net of $4 income tax benefit
and $1 for NCI
Net unrealized losses on commodity derivatives, net of $17 income tax benefit and ($22) for NCI
Adjusted Earnings (Losses)
SDGE
SoCalGas
Sempra
California
Sempra Texas
Utilities
Three months ended September 30, 2022
Sempra
Infrastructure
$
271 $
(82) $
101
189 $
256 $
101
Parent &
Other
Total
Sempra
114 $
(74) $
485
101
(2)
(2)
38
38
$
271 $
19 $
290 $
256 $
150 $
(74) $
622
SDGE
SoCalGas
Nine months ended September 30, 2023
Sempra Sempra Texas
Sempra
California
Utilities
Infrastructure
Parent &
Other
Total
Sempra
GAAP Earnings (Losses)
$
716 $
531 $
1,247 $
548 $
746 $
(248) $
2,293
Equity losses from a write-off of rate base disallowances resulting from the PUCT's final order in Oncor's
comprehensive base rate review
44
44
Impact from foreign currency and inflation on our monetary positions in Mexico, net of $203 income tax
expense and ($77) for NCI
Net unrealized gains on commodity derivatives, net of $128 income tax expense and $183 for NCI
Net unrealized losses on a contingent interest rate swap related to the PA LNG Phase 1 project, net of $6
income tax benefit and ($10) for NCI
Adjusted Earnings (Losses)
$
716 $
531 $
1,247 $
592 $
167
(1)
166
(319)
(319)
17
611 $
17
(249) $
2,201
SDGE
SoCalGas
GAAP Earnings (Losses)
$
681 $
Impact associated with Aliso Canyon litigation and regulatory matters, net of $60 income tax benefit
Impact from foreign currency and inflation on our monetary positions in Mexico, net of $80 income tax expense
and ($21) for NCI
339 $
199
1,020 $
199
Nine months ended September 30, 2022
Sempra Sempra Texas Sempra
California
Infrastructure
Utilities
604 $
Net unrealized losses on commodity derivatives, net of $42 income tax benefit and ($33) for NCI
Deferred income tax expense associated with the change in our indefinite reinvestment assertion related to the
sale of NCI to ADIA
Adjusted Earnings (Losses)
$
681 $
538 $
1,219 $
604 $
Parent &
Other
Total
Sempra
392 $
(360) $
1,656
199
87
108
2
89
108
120
587 $
(238) $
120
2,172
1.
Except for adjustments that are solely income tax, income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. We record equity losses for our investment in Oncor Holdings net of income
tax.
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