Sempra Energy Financial Highlights Q2-2022
PARENT & OTHER
(Unaudited, dollars in millions)
Parent & Other GAAP Losses
Impact from Foreign Currency and Inflation on our Monetary Positions in Mexico and
Associated Undesignated 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
Parent & Other Adjusted Losses¹
Three months ended
June 30,
Six months ended
June 30,
2022
2021
2022
2021
$
(73) $ (47)
$ (286) $ (129)
2
2
120
(50)
(50)
$
(71) $ (97)
$ (164) $
(179)
Q2-2022 adjusted losses are lower than Q2-2021 adjusted losses primarily due to:
•
$30M income tax benefit in 2022 from changes to valuation allowance against certain tax credit carryforwards,
•
$19M lower income tax expense from the interim period application of an annual forecasted consolidated
effective tax rate, and
$9M lower preferred dividends due to mandatory conversion of all series B preferred stock in July 2021,
partially offset by
$20M net investment losses in 2022 compared to $15M net investment gains in 2021 on dedicated assets in
support of our employee nonqualified benefit plan and deferred compensation obligations
1.
See Appendix for information regarding Adjusted Losses, which represents a non-GAAP financial measure.
SEMPRA
21View entire presentation