SUBSEQUENT EVENT (Tables)

6 Months Ended

Jun. 30, 2023

Subsequent Events [Abstract]

Earnings Per Share Computations Table

EARNINGS PER COMMON SHARE COMPUTATIONS
(Dollars in millions, except per share amounts; shares in thousands)
	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Numerator:
Earnings attributable to common shares	$	603	$	559	$	1,572	$	1,171
Denominator:
Weighted-average common shares outstanding for basic EPS(1)	315,007		314,845		314,963		315,595
Dilutive effect of stock options and RSUs(2)	1,053		1,022		1,129		1,052
Weighted-average common shares outstanding for diluted EPS	316,060		315,867		316,092		316,647
EPS:
Basic	$	1.91	$	1.78	$	4.99	$	3.71
Diluted	$	1.91	$	1.77	$	4.97	$	3.70

(1)    Includes 355 and 399 fully vested RSUs held in our Deferred Compensation Plan for the three months ended June 30, 2023 and 2022, respectively, and 358 and 403 of such RSUs for the six months ended June 30, 2023 and 2022, respectively. These fully vested RSUs are included in weighted-average common shares outstanding for basic EPS because there are no conditions under which the corresponding shares will not be issued.

(2)    Due to market fluctuations of both Sempra common stock and the comparative indices used to determine the vesting percentage of our total shareholder return performance-based RSUs, which we discuss in Note 10 of the Notes to Consolidated Financial Statements in the Annual Report, dilutive RSUs may vary widely from period-to-period.

The following represents the unaudited pro forma effect of the two-for-one stock split as if it had been effective for all periods presented:

PRO FORMA EARNINGS PER COMMON SHARE COMPUTATIONS ON A POST-SPLIT BASIS
(Dollars in millions, except per share amounts; shares in thousands)
	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Numerator:
Earnings attributable to common shares	$	603	$	559	$	1,572	$	1,171
Denominator:
Weighted-average common shares outstanding for basic EPS(1)	630,014		629,691		629,926		631,190
Dilutive effect of stock options and RSUs	2,107		2,044		2,259		2,104
Weighted-average common shares outstanding for diluted EPS	632,121		631,735		632,185		633,294
EPS:
Basic	$	0.96	$	0.89	$	2.50	$	1.86
Diluted	$	0.95	$	0.89	$	2.49	$	1.85

(1)    Includes 710 and 798 fully vested RSUs held in our Deferred Compensation Plan for the three months ended June 30, 2023 and 2022, respectively, and 716 and 806 of such RSUs for the six months ended June 30, 2023 and 2022, respectively. These fully vested RSUs are included in weighted-average common shares outstanding for basic EPS because there are no conditions under which the corresponding shares will not be issued.