Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 83

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 83
---
 and their projects differ by percentage and consolidation level, the allocation of claims on the underlying transactions must be further allocated among the respective owners. Such transactions also include the equity subscription, contributions provided by owners at different times based on a pre-determined funding schedule, and transaction costs, which include $122 million paid to Blackstone for fees and reimbursement of certain transaction expenses and $46 million paid to third parties. To effect the allocation of interests, in the three months and nine months ended September 30, 2025, we recorded a decrease in CRNCI of $1,309 million, an increase in NCI of $455 million and an increase in Sempra’s shareholders’ equity of $635 million, net of $219 million in income tax expense. 

NOTE 11. SEMPRA – EQUITY AND EARNINGS PER COMMON SHARE 

SERIES C PREFERRED STOCKOn September 10, 2025, we provided notice of the redemption of all 900,000 issued and outstanding shares of our series C preferred stock for a redemption price in cash of $1,000 per share. Because this notice made redemption unconditional and certain to occur, we reclassified $900 million from Preferred Stock in equity to Mandatorily Redeemable Preferred Stock in current liabilities on our Condensed Consolidated Balance Sheet, and the formerly outstanding 900,000 shares of series C preferred stock have been returned to the status of authorized and unissued shares. After this reclassification, we recognized $11 million of capitalized underwriting discount and equity issuance costs in Preferred Deemed Dividends and $4 million of accrued dividends through October 14, 2025 in Interest Expense on our Condensed Consolidated Statement of Operations.On October 15, 2025, we effected and paid $900 million for the redemption of all 900,000 shares of our series C preferred stock using proceeds received from our August 2025 issuance of junior subordinated notes and short-term debt, which we discuss in Note 7.

COMMON STOCK OFFERINGSATM ProgramIn November 2024, we established an ATM program providing for the offer and sale of shares of Sempra common stock having an aggregate gross sales price of up to $3.0 billion through agents acting as our sales agents or as forward sellers or directly to the agents as principals. The shares may be offered and sold in amounts and at times to be determined by us from time to time. The agents will be entitled to a commission that will not exceed 1.0%