SEMPRA - EQUITY AND EARNINGS PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2023

The following table provides common stock activity for the last three years.


COMMON STOCK ACTIVITY

	2023	2022	2021
Sempra:
Common shares outstanding, January 1	628,669,356	633,839,564	576,940,488
Conversion of mandatory convertible preferred stock	—	—	36,075,490
Shares issued under forward sale agreements	2,099,152	—	—
Shares issued in IEnova exchange offer	—	—	24,613,554
RSUs vesting(1)	941,910	914,444	1,373,832
Stock options exercised	—	81,260	101,342
Common stock investment plan(2)	1,730	—	—
Issuance of RSUs held in our Deferred Compensation Plan	132,178	130,026	204,476
Shares repurchased(3)	(412,594)	(6,295,938)	(5,469,618)
Common shares outstanding, December 31	631,431,732	628,669,356	633,839,564

(1) Includes dividend equivalents.

(2) Participants in the Direct Stock Purchase Plan may reinvest dividends to purchase newly issued shares.

(3) Includes shares repurchased under repurchase programs and shares withheld from LTIP participants to satisfy minimum statutory tax withholding requirements.

Schedule Of Noncontrolling Interests

The following table summarizes net income attributable to Sempra and transfers (to) from NCI, which shows the effects of changes in Sempra’s ownership interest in its subsidiaries on Sempra’s shareholders’ equity.


NET INCOME ATTRIBUTABLE TO SEMPRA AND TRANSFERS (TO) FROM NCI
(Dollars in millions)
	Years ended December 31,
	2023		2022		2021
Sempra:
Net income attributable to Sempra	$	3,075	$	2,139	$	1,318
Transfers (to) from NCI:
Increase in shareholders’ equity for purchases of NCI	—		—		1,415
(Decrease) increase in shareholders’ equity for sales of NCI	(49)		710		1,429
Net transfers (to) from NCI	(49)		710		2,844
Change from net income attributable to Sempra and transfers (to) from NCI	$	3,026	$	2,849	$	4,162

Schedule Of Earnings Per Share Computations


EARNINGS PER COMMON SHARE COMPUTATIONS
(Dollars in millions, except per share amounts; shares in thousands)
	Years ended December 31,
	2023		2022		2021
Sempra:
Numerator:
Earnings attributable to common shares	$	3,030	$	2,094	$	1,254

Denominator:
Weighted-average common shares outstanding for basic EPS(1)	630,296		630,318		623,510
Dilutive effect of stock options and RSUs(2)	2,341		2,439		1,506
Dilutive effect of common shares sold forward	96		—		—
Dilutive effect of mandatory convertible preferred stock	—		—		1,057
Weighted-average common shares outstanding for diluted EPS	632,733		632,757		626,073

EPS:
Basic	$	4.81	$	3.32	$	2.01
Diluted	$	4.79	$	3.31	$	2.01

(1) Includes fully vested RSUs held in our Deferred Compensation Plan of 717 in 2023, 805 in 2022 and 907 in 2021. 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, dilutive RSUs may vary widely from period-to-period.