Company: SREA
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001140361-25-010983
Chunk: 126

Company: SEMPRA
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 126
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arnings and Adjusted EPS exclude items (after the effects of income taxes and, if applicable, noncontrolling interests (NCI)) in 2024, 2019 and 2014 as follows: In 2024:

| • | $(104) million impact from regulatory disallowances at Sempra California consisting of: |

| • | $(89) million charge from the Federal Energy Regulatory Commission order finding that the Electric Transmission Owner Formula Rate, effective June 1, 2019, adder refund provision has been triggered, requiring Sempra California to refund customers the California Independent System Operator adder retroactively from June 1, 2019 |

| • | $(15) million impairment from disallowed capital costs in the 2024 General Rate Case Final Decision |

| • | $262 million impact from foreign currency and inflation on our monetary positions in Mexico |

| • | $(26) million net unrealized losses on commodity derivatives |

| • | $30 million net unrealized gains on interest rate swaps related to the initial phase of the Port Arthur LNG liquefaction project (PA LNG Phase 1 project) |

| • | $(330) million income tax expense in 2024 from changes to a valuation allowance against foreign tax credits that were carried forward from the implementation of the Tax Cuts and Jobs Act of 2017 |

| • | $16 million equity earnings from investment in RBS Sempra Commodities LLP from the substantial dissolution of the partnership |

In 2019:

| • | $(39) million impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives |

| • | $(20) million net unrealized losses on commodity derivatives |

| • | $45 million gain on the sale of certain Sempra Renewables assets |

Associated with holding the South American businesses for sale:

| • | $89 million income tax benefit from outside basis differences in our South American businesses primarily related to the change in our indefinite reinvestment assertion from our decision in January 2019 to hold those businesses for sale and a change in the anticipated structure of the sale |

| • | $10 million income tax benefit to reduce a valuation allowance against certain net operating loss (NOL) carryforwards as a result of our decision to sell our South American businesses |

In 2014:

| • | $(21) million charge to adjust the total plant closure loss from the early retirement of San Onofre Nuclear Generating Station (SONGS) at Sempra California |

| • | $12 million