Sempra Energy Financial Overview
2017 Adjusted Earnings and Adjusted EPS
(Unaudited)
Sempra Adjusted Earnings and Adjusted EPS exclude items (after the effects of income taxes and, if applicable, NCI) in
2017 as follows:
In the year ended December 31, 2017:
$(25)M impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated
derivatives
$(208)M write-off of wildfire regulatory asset at San Diego Gas & Electric Company (SDG&E)
•
$4M net unrealized gains on commodity derivatives
•
•
$(20)M associated with Aliso Canyon litigation reserves at SoCalGas
•
•
$(47)M impairment of Termoeléctrica de Mexicali (TdM) assets that were held for sale until June 2018 at Sempra
Infrastructure
$5M deferred income tax benefit on the TdM assets that were held for sale
•
$28M of recoveries related to 2016 permanent releases of pipeline capacity at Sempra Infrastructure
•
$(870)M income tax expense from the impact of the Tax Cuts and Jobs Act of 2017 (TCJA)
Sempra Adjusted Earnings and Adjusted EPS are non-GAAP financial measures (GAAP represents generally accepted
accounting principles in the United States of America). These non-GAAP financial measures exclude significant items that
are generally not related to our ongoing business activities and/or are infrequent in nature. These non-GAAP financial
measures also exclude the impact from foreign currency and inflation effects on our monetary positions in Mexico and
associated undesignated derivatives and unrealized gains and losses on commodity derivatives, which we expect to occur
in future periods, and which can vary significantly from one period to the next. Exclusion of these items is useful to
management and investors because it provides a meaningful comparison of the performance of Sempra's business
operations to prior and future periods. Non-GAAP financial measures are supplementary information that should be
considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. The table below
reconciles for historical periods these non-GAAP financial measures to Sempra GAAP Earnings and GAAP EPS, which we
consider to be the most directly comparable financial measures calculated in accordance with GAAP.
SEMPRA 31View entire presentation