XML 97 R59.htm IDEA: XBRL DOCUMENT v3.22.0.1
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF PARENT (Tables)
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
Schedule of Condensed Statements of Operations
SEMPRA ENERGY
CONDENSED STATEMENTS OF OPERATIONS
(Dollars in millions, except per share amounts; shares in thousands)
 Years ended December 31,
 202120202019
Interest income$11 $4 $3 
Interest expense(576)(495)(521)
Operating expenses(92)(86)(124)
Other income (expense), net20 (38)59 
Income tax benefit190 176 163 
Loss before equity in earnings of subsidiaries(447)(439)(420)
Equity in earnings of subsidiaries, net of income taxes1,764 4,371 2,617 
Net income1,317 3,932 2,197 
Preferred dividends(63)(168)(142)
Earnings$1,254 $3,764 $2,055 
Basic EPS:
Earnings$4.03 $12.93 $7.40 
Weighted-average common shares outstanding311,755 291,077 277,904 
Diluted EPS:
Earnings$4.01 $12.88 $7.29 
Weighted-average common shares outstanding313,036 292,252 282,033 
See Notes to Condensed Financial Information of Parent.
Schedule Of Condensed Statements Of Comprehensive Income
SEMPRA ENERGY
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Dollars in millions)
 Years ended December 31, 2021, 2020 and 2019
 Pretax
amount
Income tax
benefit (expense)
Net-of-tax
amount
2021:   
Net income$1,127 $190 $1,317 
Other comprehensive income (loss):   
Foreign currency translation adjustments(6)— (6)
Financial instruments191 (47)144 
Pension and other postretirement benefits28 (6)22 
Total other comprehensive income213 (53)160 
Comprehensive income$1,340 $137 $1,477 
2020:   
Net income$3,756 $176 $3,932 
Other comprehensive income (loss):   
Foreign currency translation adjustments547 — 547 
Financial instruments(146)33 (113)
Pension and other postretirement benefits11 1 12 
Total other comprehensive income412 34 446 
Comprehensive income$4,168 $210 $4,378 
2019:   
Net income$2,034 $163 $2,197 
Other comprehensive income (loss):   
Foreign currency translation adjustments(43)— (43)
Financial instruments(161)53 (108)
Pension and other postretirement benefits25 (7)18 
Total other comprehensive loss(179)46 (133)
Comprehensive income$1,855 $209 $2,064 
See Notes to Condensed Financial Information of Parent.
Schedule Of Condensed Balance Sheets
SEMPRA ENERGY
CONDENSED BALANCE SHEETS
(Dollars in millions)
December 31,
 202120202019
Assets:  
Cash and cash equivalents$186 $366 $6 
Restricted cash2 — — 
Due from affiliates446 58 98 
Income taxes receivable, net — 42 — 
Other current assets31 26 34 
Total current assets665 492 138 
Investments in subsidiaries33,308 33,898 32,604 
Due from affiliates21 1 3 
Deferred income taxes626 2,187 1,766 
Other long-term assets1,090 717 682 
Total assets$35,710 $37,295 $35,193 
Liabilities and shareholders’ equity:  
Short-term debt$1,240 $— $— 
Current portion of long-term debt— 850 1,399 
Due to affiliates185 224 369 
Income taxes payable, net4 — 274 
Other current liabilities531 536 561 
Total current liabilities1,960 1,610 2,603 
Long-term debt5,969 7,317 8,856 
Due to affiliates1,151 4,375 3,138 
Other long-term liabilities649 620 667 
Commitments and contingencies (Note 4)
Shareholders’ equity25,981 23,373 19,929 
Total liabilities and shareholders’ equity$35,710 $37,295 $35,193 
See Notes to Condensed Financial Information of Parent.
Schedule of Condensed Statements of Cash Flows
SEMPRA ENERGY
CONDENSED STATEMENTS OF CASH FLOWS
(Dollars in millions)
 Years ended December 31,
 202120202019
Net cash (used in) provided by operating activities$(255)$(978)$294 
Expenditures for property, plant and equipment(8)(9)(8)
Capital contributions to investees(1,005)(364)(1,528)
Disbursement for note receivable(305)— — 
Distribution from investments1,552 3,616 — 
(Increase) decrease in loans to affiliates, net(20)2 — 
Other— — 4 
Net cash provided by (used in) investing activities214 3,245 (1,532)
Common stock dividends paid(1,331)(1,174)(993)
Preferred dividends paid(99)(157)(142)
Issuances of preferred stock, net — 891 — 
Issuances of common stock, net 5 11 1,830 
Repurchases of common stock(339)(566)(26)
Issuances of long-term debt990 1,599 758 
Payments on long-term debt(3,200)(3,700)(1,500)
Increase in short-term debt1,240 — — 
Increase in loans from affiliates, net1,092 1,194 1,328 
Purchases of noncontrolling interest(217)— — 
Proceeds from sale of noncontrolling interest1,846 — — 
Equity transaction costs with third parties— (4)— 
Debt issuance costs— (1)(25)
Make-whole premiums related to early redemptions of debt(121)— — 
Other financing(2)— — 
Net cash (used in) provided by financing activities(136)(1,907)1,230 
Effect of exchange rate changes on cash and cash equivalents(1)— — 
(Decrease) increase in cash and cash equivalents(178)360 (8)
Cash and cash equivalents, January 1366 6 14 
Cash, cash equivalents and restricted cash, December 31$188 $366 $6 
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES   
Issuance of common stock in exchange for NCI and related AOCI$1,373 $— $— 
Common dividends issued in stock— 22 55 
Common dividends declared but not paid349 301 283 
Conversion of mandatory convertible preferred stock 2,258 — — 
Preferred dividends declared but not paid11 47 36 
Equitization of amounts due from affiliates4,351 — — 
Schedule Of Long-term Debt
The following tables show the detail and maturities of long-term debt outstanding:
LONG-TERM DEBT AND FINANCE LEASES
(Dollars in millions)
 December 31,
 202120202019
SDG&E:  
First mortgage bonds (collateralized by plant assets):  
3% August 15, 2021
$— $350 $350 
1.914% payable 2015 through February 2022
17 53 89 
3.6% September 1, 2023
450 450 450 
2.5% May 15, 2026
500 500 500 
6% June 1, 2026
250 250 250 
1.7% October 1, 2030
800 800 — 
5.875% January and February 2034(1)
— — 176 
5.35% May 15, 2035
250 250 250 
6.125% September 15, 2037
250 250 250 
4% May 1, 2039(1)
— — 75 
6% June 1, 2039
300 300 300 
5.35% May 15, 2040
250 250 250 
4.5% August 15, 2040
500 500 500 
3.95% November 15, 2041
250 250 250 
4.3% April 1, 2042
250 250 250 
3.75% June 1, 2047
400 400 400 
4.15% May 15, 2048
400 400 400 
4.1% June 15, 2049
400 400 400 
3.32% April 15, 2050
400 400 — 
2.95% August 15, 2051
750 — — 
 6,417 6,053 5,140 
Other long-term debt (uncollateralized):  
Variable rate (0.95% at December 31, 2020) 364-day term loan March 18, 2021(1)
— 200 — 
Finance lease obligations:
Purchased-power contracts1,217 1,237 1,255 
Other57 39 15 
1,274 1,476 1,270 
7,691 7,529 6,410 
Current portion of long-term debt(49)(611)(56)
Unamortized discount on long-term debt(17)(13)(12)
Unamortized debt issuance costs(44)(39)(36)
Total SDG&E
7,581 6,866 6,306 
SoCalGas:
 
 
First mortgage bonds (collateralized by plant assets):  
3.15% September 15, 2024
$500 $500 $500 
3.2% June 15, 2025
350 350 350 
2.6% June 15, 2026
500 500 500 
2.55% February 1, 2030
650 650 — 
5.75% November 15, 2035
250 250 250 
5.125% November 15, 2040
300 300 300 
3.75% September 15, 2042
350 350 350 
4.45% March 15, 2044
250 250 250 
4.125% June 1, 2048
400 400 400 
4.3% January 15, 2049
550 550 550 
3.95% February 15, 2050
350 350 350 
 4,450 4,450 3,800 
Other long-term debt (uncollateralized):
 
 
Notes at variable rates (0.55% at December 31, 2021) September 14, 2023(1)
300 300 — 
1.875% Notes May 14, 2026(1)
4 4 4 
5.67% Notes January 18, 2028(2)
5 5 5 
Finance lease obligations61 54 19 
 370 363 28 
 4,820 4,813 3,828 
Current portion of long-term debt(11)(10)(6)
Unamortized discount on long-term debt(7)(8)(7)
Unamortized debt issuance costs(29)(32)(27)
Total SoCalGas
4,773 4,763 3,788 
LONG-TERM DEBT AND FINANCE LEASES (CONTINUED)
(Dollars in millions)
 December 31,
 202120202019
Sempra:  
Other long-term debt (uncollateralized):  
2.4% Notes February 1, 2020
$— $— $500 
2.4% Notes March 15, 2020
— — 500 
2.85% Notes November 15, 2020
— — 400 
Notes at variable rates (2.50% at December 31, 2019) January 15, 2021(1)
— — 700 
Notes at variable rates (3.069% after floating-to-fixed rate swaps effective 2019) March 15, 2021
— 850 850 
2.875% Notes October 1, 2022
— 500 500 
2.9% Notes February 1, 2023
— 500 500 
4.05% Notes December 1, 2023
— 500 500 
3.55% Notes June 15, 2024
— 500 500 
3.75% Notes November 15, 2025
— 350 350 
3.25% Notes June 15, 2027
750 750 750 
3.4% Notes February 1, 2028
1,000 1,000 1,000 
3.8% Notes February 1, 2038
1,000 1,000 1,000 
6% Notes October 15, 2039
750 750 750 
4% Notes February 1, 2048
800 800 800 
4.125% Junior Subordinated Notes April 1, 2052(1)
1,000 — — 
5.75% Junior Subordinated Notes July 1, 2079(1)
758 758 758 
Sempra Infrastructure: 
Other long-term debt (uncollateralized unless otherwise noted): 
6.3% Notes February 2, 2023 (4.124% after cross-currency swap effective 2013)
189 197 207 
Loan at variable rates (2.93% at December 31, 2021) December 9, 2025
341 17 — 
Notes at 2.87% to 3.51% October 1, 2026(1)
— — 22 
Notes at variable rates (5.13% after floating-to-fixed rate swaps effective 2014),
payable 2016 through December 2026, collateralized by plant assets(2)
154 196 237 
3.75% Notes January 14, 2028
300 300 300 
Loan at variable rates (5.75% at December 31, 2019) July 31, 2028(1)
— — 11 
Bank loans including $234 at a weighted-average fixed rate of 6.87%, $130 at variable rates
(weighted-average rate of 6.54% after floating-to-fixed rate swaps effective 2014) and $34 at variable rates (3.45% at December 31, 2020), payable 2016 through March 2032, collateralized by plant assets
— 398 423 
Loan at variable rates (4.0275% after floating-to-fixed rate swap effective 2019)
payable 2022 through November 2034(1)
200 200 200 
2.9% Loan November 15, 2034(1)
241 241 — 
Loan at variable rates (2.38% after floating-to-fixed rate swap effective 2020)
payable November 2034(1)
100 100 — 
4.875% Notes January 14, 2048
540 540 540 
4.75% Notes January 15, 2051
800 800 — 
 8,923 11,247 12,298 
Current portion of long-term debt(46)(919)(1,464)
Unamortized discount on long-term debt(65)(55)(35)
Unamortized debt issuance costs(98)(121)(108)
Total other Sempra8,714 10,152 10,691 
Total Sempra$21,068 $21,781 $20,785 
(1)    Callable long-term debt not subject to make-whole provisions.
(2)    Debt is not callable.
The following table shows the detail and maturities of long-term debt outstanding:
LONG-TERM DEBT
(Dollars in millions)
December 31,
 202120202019
2.4% Notes February 1, 2020
$— $— $500 
2.4% Notes March 15, 2020
— — 500 
2.85% Notes November 15, 2020
— — 400 
Notes at variable rates (2.50% at December 31, 2019) January 15, 2021(1)
— — 700 
Notes at variable rates (3.069% after floating-to-fixed rate swaps effective 2019) March 15, 2021
— 850 850 
2.875% Notes October 1, 2022
— 500 500 
2.9% Notes February 1, 2023
— 500 500 
4.05% Notes December 1, 2023
— 500 500 
3.55% Notes June 15, 2024
— 500 500 
3.75% Notes November 15, 2025
— 350 350 
3.25% Notes June 15, 2027
750 750 750 
3.4% Notes February 1, 2028
1,000 1,000 1,000 
3.8% Notes February 1, 2038
1,000 1,000 1,000 
6% Notes October 15, 2039
750 750 750 
4% Notes February 1, 2048
800 800 800 
4.125% Junior Subordinated Notes April 1, 2052(1)
1,000 — — 
5.75% Junior Subordinated Notes July 1, 2079(1)
758 758 758 
 6,058 8,258 10,358 
Current portion of long-term debt— (850)(1,399)
Unamortized discount on long-term debt(37)(32)(35)
Unamortized debt issuance costs(52)(59)(68)
Total long-term debt$5,969 $7,317 $8,856 
(1)    Callable long-term debt not subject to make-whole provisions.