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SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF PARENT
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
Schedule I - Condensed Financial Information of Parent
SEMPRA ENERGY
CONDENSED STATEMENTS OF OPERATIONS
(Dollars in millions, except per share amounts; shares in thousands)
 Years ended December 31,
 202220212020
Interest income$35 $11 $4 
Interest expense(326)(576)(495)
Operating expenses(92)(92)(86)
Other (expense) income, net(58)20 (38)
Income tax benefit111 190 176 
Loss before equity in earnings of subsidiaries(330)(447)(439)
Equity in earnings of subsidiaries, net of income taxes2,468 1,764 4,371 
Net income2,138 1,317 3,932 
Preferred dividends(44)(63)(168)
Earnings$2,094 $1,254 $3,764 
Basic EPS:
Earnings$6.65 $4.03 $12.93 
Weighted-average common shares outstanding315,159 311,755 291,077 
Diluted EPS:
Earnings$6.62 $4.01 $12.88 
Weighted-average common shares outstanding316,378 313,036 292,252 
See Notes to Condensed Financial Information of Parent.
SEMPRA ENERGY
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Dollars in millions)
 Years ended December 31, 2022, 2021 and 2020
 Pretax
amount
Income tax
benefit (expense)
Net-of-tax
amount
2022:   
Net income$2,027 $111 $2,138 
Other comprehensive income (loss):   
Foreign currency translation adjustments11 — 11 
Financial instruments221 (55)166 
Pension and other postretirement benefits3 (6)(3)
Total other comprehensive income235 (61)174 
Comprehensive income$2,262 $50 $2,312 
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 
See Notes to Condensed Financial Information of Parent.
SEMPRA ENERGY
CONDENSED BALANCE SHEETS
(Dollars in millions)
December 31,
 20222021
Assets:  
Cash and cash equivalents$219 $186 
Restricted cash1 2 
Due from affiliates102 446 
Income taxes receivable, net104 — 
Other current assets17 31 
Total current assets443 665 
Investments in subsidiaries35,209 33,308 
Due from affiliates20 21 
Deferred income taxes233 626 
Other long-term assets1,050 1,090 
Total assets$36,955 $35,710 
Liabilities and shareholders’ equity:  
Short-term debt$454 $1,240 
Due to affiliates226 185 
Other current liabilities566 535 
Total current liabilities1,246 1,960 
Long-term debt7,215 5,969 
Due to affiliates776 1,151 
Other long-term liabilities603 649 
Commitments and contingencies (Note 4)
Shareholders’ equity27,115 25,981 
Total liabilities and shareholders’ equity$36,955 $35,710 
See Notes to Condensed Financial Information of Parent.
SEMPRA ENERGY
CONDENSED STATEMENTS OF CASH FLOWS
(Dollars in millions)
 Years ended December 31,
 202220212020
Net cash provided by (used in) operating activities$775 $(255)$(978)
Expenditures for property, plant and equipment(7)(8)(9)
Capital contributions to investees(661)(1,005)(364)
Disbursement for note receivable— (305)— 
Distributions from investments— 1,552 3,616 
Purchases of trust assets(114)— — 
Proceeds from sales of trust assets123 — — 
(Increase) decrease in loans to affiliates, net(92)(20)2 
Other(3)— — 
Net cash (used in) provided by investing activities(754)214 3,245 
Common dividends paid(1,430)(1,331)(1,174)
Preferred dividends paid(44)(99)(157)
Issuances of preferred stock, net — — 891 
Issuances of common stock, net 4 5 11 
Repurchases of common stock(478)(339)(566)
Issuances of debt (maturities greater than 90 days)1,569 990 1,599 
Payments on debt (maturities greater than 90 days)(322)(3,200)(3,700)
(Decrease) increase in short-term debt(785)1,240 — 
(Decrease) increase in loans from affiliates, net(226)1,092 1,194 
Purchases of noncontrolling interests— (217)— 
Proceeds from sale of noncontrolling interests1,732 1,846 — 
Equity transaction costs with third parties— — (4)
Make-whole premiums related to early redemptions of debt— (121)— 
Other (8)(2)(1)
Net cash provided by (used in) financing activities12 (136)(1,907)
Effect of exchange rate changes on cash and cash equivalents(1)(1)— 
Increase (decrease) in cash and cash equivalents32 (178)360 
Cash and cash equivalents, January 1188 366 6 
Cash, cash equivalents and restricted cash, December 31$220 $188 $366 
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES   
Issuance of common stock in exchange for NCI and related AOCI$— $1,373 $— 
Common dividends declared but not paid360 349 301 
Conversion of mandatory convertible preferred stock — 2,258 — 
Preferred dividends declared but not paid11 11 47 
Equitization of amounts due from affiliates93 4,351 — 
See Notes to Condensed Financial Information of Parent.
BASIS OF PRESENTATION
The condensed financial information of Sempra Energy has been prepared in accordance with SEC Regulation S-X Rule 5-04 and Rule 12-04. We apply the same accounting policies as in the consolidated financial statements of Sempra, except that Sempra Energy accounts for the earnings of its subsidiaries under the equity method in this unconsolidated financial information. This financial information should be read in conjunction with Sempra’s consolidated financial statements and the accompanying notes thereto included in this Form 10-K.
Sempra Energy received cash dividends from its subsidiaries totaling $832 million, $375 million and $300 million in 2022, 2021 and 2020, respectively.
NEW ACCOUNTING STANDARDSWe describe in Note 2 of the Notes to Consolidated Financial Statements recent pronouncements that have had or may have a significant effect on Sempra Energy’s results of operations, financial condition, cash flows or disclosures.DEBT AND CREDIT FACILITY
SHORT-TERM DEBT
Committed Line of Credit
At December 31, 2022, Sempra Energy had capacity of $4.0 billion under a committed line of credit with available unused credit of $3.5 billion, which provides liquidity and supports its commercial paper program.
The principal terms of Sempra Energy’s committed line of credit include the following:
▪The facility has a syndicate of 23 lenders. No single lender has greater than a 6% share in the facility.
▪The facility provides for the issuance of $200 million of letters of credit. Subject to obtaining commitments from existing or new lenders and satisfaction of other specified conditions, Sempra Energy has the right to increase its letter of credit commitment to up to $500 million. No letters of credit were outstanding at December 31, 2022.
▪Borrowings bear interest at a benchmark rate plus a margin that varies with Sempra Energy’s credit rating.
▪Sempra Energy must maintain a ratio of indebtedness to total capitalization (as defined in its credit facility) of no more than 65% at the end of each quarter. At December 31, 2022, Sempra Energy was in compliance with this ratio under its credit facility.
LONG-TERM DEBT
The following table shows the detail and maturities of uncollateralized long-term debt outstanding.
LONG-TERM DEBT
(Dollars in millions)
December 31,
 20222021
3.3% Notes April 1, 2025
$750 $— 
3.25% Notes June 15, 2027
750 750 
3.4% Notes February 1, 2028
1,000 1,000 
3.7% Notes April 1, 2029
500 — 
3.8% Notes February 1, 2038
1,000 1,000 
6% Notes October 15, 2039
750 750 
4% Notes February 1, 2048
800 800 
4.125% Junior Subordinated Notes April 1, 2052(1)
1,000 1,000 
5.75% Junior Subordinated Notes July 1, 2079(1)
758 758 
 7,308 6,058 
Unamortized discount on long-term debt(28)(37)
Unamortized debt issuance costs(65)(52)
Total long-term debt$7,215 $5,969 
(1)    Callable long-term debt not subject to make-whole provisions.

In March 2022, we issued $750 million aggregate principal amount of 3.30% senior unsecured notes due in full upon maturity on April 1, 2025 and received proceeds of $745 million (net of debt discount, underwriting discounts and debt issuance costs of $5 million), and $500 million of 3.70% senior unsecured notes due in full upon maturity on April 1, 2029 and received proceeds of $494 million (net of debt discount, underwriting discounts and debt issuance costs of $6 million). Each series of the notes is redeemable prior to maturity, subject to their terms, and in certain circumstances subject to make-whole provisions. We used the net proceeds for general corporate purposes and repayment of commercial paper.
At December 31, 2022, Sempra Energy had long-term debt maturities of $750 million in 2025, $750 million in 2027 and $5.8 billion thereafter.
Additional information on Sempra Energy’s short-term and long-term debt is provided in Note 7 of the Notes to Consolidated Financial Statements.
COMMITMENTS AND CONTINGENCIES
Sempra Energy has an operating lease commitment related to its corporate headquarters building of approximately $241 million. Sempra Energy expects payments for its operating lease to be $12 million in each of 2023 and 2024, $13 million in each of 2025 through 2027 and $178 million thereafter.
For other contingencies and guarantees related to Sempra Energy, refer to Notes 6 and 16 of the Notes to Consolidated Financial Statements.