Company: SREA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001032208-25-000012
Chunk: 475

Company: SEMPRA
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 475
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 million to repurchase shares of our common stock in a share forward transaction. A total of 2,943,914 shares were purchased under this program at an average price of $84.92 per share. The total number of shares purchased was determined by dividing the $250 million purchase price by the arithmetic average of the volume-weighted average trading prices of shares of our common stock during the valuation period of April 7, 2022 through April 25, 2022, minus a fixed discount. The ASR program was completed on April 25, 2022. As of February 25, 2025, a maximum of $1.25 billion and no more than 19,632,529 shares may yet be purchased under the July 6, 2020 repurchase authorization. In 2024, 2023 and 2022, we withheld 689,303 shares for $43 million, 412,594 shares for $32 million and 406,512 shares for $28 million, respectively, of our common stock that would otherwise be issued to LTIP participants and individuals exercising stock options in 2024 who do not elect otherwise upon the vesting of RSUs and exercise of stock options in an amount sufficient to satisfy minimum statutory tax withholding requirements. Such share withholding is considered a share repurchase for accounting purposes. The repurchases do not fall under the July 6, 2020 repurchase authorization.

2024 Form 10-K  |  F-115

NONCONTROLLING INTERESTSOwnership interests in a consolidated entity that are held by unconsolidated owners are accounted for and reported as NCI.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, 20232022Sempra:Net income attributable to Sempra$3,075 $2,139 Transfers (to) from NCI:(Decrease) increase in shareholders’ equity for sales of NCI(49)710 Net transfers (to) from NCI(49)710 Change from net income attributable to Sempra and transfers (to) from NCI$3,026 $2,849 SI PartnersSale of NCI to ADIAIn June