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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Pay vs Performance Disclosure            
Pay vs Performance Disclosure, Table
Pay-Versus-Performance
The information below has been prepared in accordance with the SEC’s pay-versus-performance disclosure rules, which include a measure called “Compensation Actually Paid” (CAP).
It is important to note that CAP does not represent the actual amount of pay that has been fully earned or realized, either in the year set forth in the table or at all. For a fulsome description of our executive compensation program and the alignment of executive compensation and performance for our principal executive officer (PEO) and our non-PEO named executive officers (Non-PEO NEOs), please refer to the Compensation Discussion and Analysis on pages 37 through 66 in this proxy statement.
2024 PAY-VERSUS-PERFORMANCE TABLE
Year   
(a)  
Summary
Compensation
Table Total for
PEO(A)
(b)
Compensation
Actually Paid
to PEO(A)
(c)
Average
Summary
Compensation
Table Total
for Non-PEO
NEOs(A)
(d)
Average
Compensation
Actually Paid
to Non-PEO
NEOs(A)
(e)
Value of Initial Fixed $100
Investment Based on
 
 
Total
Shareholder
Return(B)
(f)
Peer Group
Total
Shareholder
Return(B)
(g)
Net Income
(in millions)(C)
(h)
ABP Earnings
(in millions)(D)
(i)
2024(E)
$ 21,513,802
$28,127,126
$6,388,156
$5,249,884
$136
$138
$3,500
$3,158
2023(E)
$ 27,421,881
$11,517,838
$6,585,961
$3,417,879
$113
$112
$3,618
$2,977
2022(E)
$ 18,608,094
$34,176,500
$4,172,220
$6,055,660
$113
$120
$2,285
$2,947
2021(E)
$ 24,675,982
$11,770,982
$4,727,198
$2,995,826
$94
$118
$1,463
$2,558
2020(E)
$ 23,181,719
$1,151,962
$5,277,710
$337,680
$87
$100
$4,105
$2,339
(A)
The amounts reported in the “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to Non-PEO NEOs” columns do not reflect the actual compensation paid to or realized by the PEO or the Non-PEO NEOs during each applicable year. The calculation of compensation actually paid (CAP) for purposes of this table includes point-in-time valuations as required by the SEC’s prescribed methodology of stock awards and option awards (collectively, Equity Awards), including unvested Equity Awards, and these values fluctuate based on the company’s stock price. See the 2024 Summary Compensation Table for the amounts of the PEO’s and each of the Non-PEO NEO’s base salary, annual bonus plan award and certain other compensation and the 2024 Option Exercises and Stock Vested table for the value realized by each of them upon the vesting of restricted stock unit awards and the exercise of stock options during 2024.
The following adjustments were made to the amounts reported in the Total column of the Summary Compensation Table (SCT) for the applicable year (SCT Total Compensation), which are reported in columns (b) and (d), to derive the CAP reported in columns (c) and (e), respectively:
PEO: SCT Total Compensation to CAP Reconciliation:
Year
Total
Compensation
Reported in SCT
Equity Awards
Reported in SCT(1)
Adjusted Equity
Awards
Included in CAP(2)
Change in
Pension Value
Reported in SCT(3)
Adjusted Change
in Pension Value
Included in CAP(4)
CAP
2024
​$21,513,802
$ (13,503,977)
$20,577,001
$(1,576,450)
$1,116,750
​$28,127,126
2023
$ 27,421,881
$ (12,086,069)
$3,263,893
$(8,259,934)
$1,178,067
$11,517,838
2022
$ 18,608,094
$ (10,185,024)
$26,303,071
$(1,882,015)
$1,332,374
$34,176,500
2021
$ 24,675,982
$(8,916,873)
$4,149,864
$(9,910,201)
$1,772,210
$11,770,982
2020
$ 23,181,719
$(7,266,822)
$(5,217,066)
$ (10,532,416)
$986,547
$1,151,962
Average Non-PEO NEOs: SCT Total Compensation to CAP Reconciliation:
Year
Average Total
Compensation
Reported in SCT
Average Equity
Awards
Reported in SCT(1)
Average Adjusted
Equity Awards
Included in CAP(2)
Average Change in
Pension Value
Reported in SCT(3)
Average Adjusted
Change in
Pension Value
Included in CAP(4)
Average CAP
2024
​$6,388,156
$(2,265,033)
$3,221,109
$(2,315,218)
$220,870
​$5,249,884
2023
$6,585,961
$(2,059,518)
$837,100
$(2,681,185)
$735,521
$3,417,879
2022
$4,172,220
$(1,722,654)
$3,953,284
$(718,428)
$371,238
$6,055,660
2021
$4,727,198
$(1,519,041)
$844,567
$(1,617,653)
$560,755
$2,995,826
2020
$5,277,710
$(1,751,610)
$(1,840,045)
$(1,614,520)
$266,145
$337,680
(1)
The amounts in this column are equal to the sum of the amounts in the “Stock Awards” and “Option Awards” columns of the SCT for the applicable year (or, for the Non-PEO NEOs, the average of such sums), which represent the grant date fair value of Equity Awards granted in the applicable year.
(2)
The amounts set forth in the following tables are reflected in this column:
PEO: Equity Award Values Included in CAP
Year
Year-End Fair Value of
Current Year Equity
Awards(i)
Change in Fair Value
of Prior Years’ Equity
Awards Unvested at
Year-End(ii)
Fair Value of Equity
Awards Granted and
Vested in Same
Year(iii)
Change in Fair Value
between Prior Year-End
and Vest Date of Equity
Awards Vested in
Current Year(iv)
Adjusted Stock
and Option Award
Values Included
in CAP
2024
$16,397,753
$4,438,893
$    —    
$(259,645)
$ 20,577,001
2023
$8,182,275
$(2,356,136)
$—    
$(2,562,246)
$3,263,893
2022
$16,322,830
$9,756,433
$—    
$223,808
$ 26,303,071
2021
$9,523,749
$(5,293,383)
$—    
$(80,502)
$4,149,864
2020
$6,534,674
$ (11,312,907)
$—    
$(438,833)
$(5,217,066)
Non-PEO NEOs: Equity Award Values Included in CAP
Year
Average Year-End Fair
Value of Current Year
Equity Awards(i)
Average Change in
Fair Value of Prior
Years’ Equity Awards
Unvested at Year-End(ii)
Average Fair Value of
Equity Awards
Granted and Vested in
Same Year(iii)
Average Change in Fair
Value between Prior
Year-End and Vest Date
of Equity Awards
Vested in Current
Year(iv)
Average Adjusted
Stock and Option
Award Values
Included in CAP
2024
$2,744,812
$507,000
$
$(30,703)
$3,221,109
2023
$1,419,162
$(312,918)
$
$(269,144)
$837,100
2022
$2,671,503
$1,252,325
$
$29,456
$3,953,284
2021
$1,610,174
$(739,051)
$
$(26,556)
$844,567
2020
$801,071
$(2,488,900)
$47,106
$(199,322)
$(1,840,045)
(i)
the year-end fair value of any Equity Awards granted in the applicable year that were outstanding and unvested as of the end of the applicable year (or, for the Non-PEO NEOs, the average of such year-end fair values);
(ii)
the amount of change as of the end of the applicable year (from the end of the prior year) in the fair value of Equity Awards granted in prior years that were outstanding and unvested as of the end of the applicable year (or, for the Non-PEO NEOs, the average of such amounts of change);
(iii)
the fair value as of the vesting date of Equity Awards that were granted and vested in the same applicable year (or, for the Non-PEO NEOs, the average of such fair values); and
(iv)
the amount of change as of the vesting date (from the end of the prior year) in the fair value of Equity Awards that were granted in prior years and vested in the applicable year (or, for the Non-PEO NEOs, the average of such amounts of change).
No Equity Awards were granted in prior years that were determined to fail to meet the applicable vesting conditions during the applicable year and no dollar value of dividends or other earnings paid on Equity Awards in the applicable year is not otherwise reflected in the fair value of such award.
The value of Equity Awards included in CAP, as reported in columns (c) and (e), is impacted by changes in our stock price. Our year-end stock price was $87.72 in 2024, $74.73 in 2023, $77.27 in 2022, $66.14 in 2021, $63.705 in 2020 and $75.74 in 2019.
(3)
The amounts in this column reflect the aggregate change in the actuarial present value of accumulated benefits under all defined benefit and actuarial pension plans reported in the SCT for the applicable year. Above-market interest on non-qualified deferred compensation reported in the SCT for the applicable year are not reflected.
(4)
The amounts in this column reflect the actuarily determined service cost for services rendered during each applicable year under all defined benefit and actuarial pension plans. There were no plan amendments to defined benefit and actuarial pension plans during the applicable years that resulted in adjustments for prior service costs.
(B)
The cumulative TSR reflected in each of columns (f) and (g) reflects a five-year measurement period for 2024, a four-year measurement period for 2023, a three-year measurement period for 2022, a two-year measurement period for 2021 and a one-year measurement period for 2020, in each case for the period starting on December 31, 2019 and assuming the reinvestment of all dividends. Consistent with the performance graph included in our 2024 Annual Report to Shareholders, the peer group TSR in column (g) is calculated using the S&P 500 Utilities Index as our peer group, with the returns of each component issuer in such index weighted according to the respective issuers’ market capitalization. For additional information, including historical TSR for the company and the S&P 500 and S&P 500 Utilities Indices, see “Performance—Financial Performance Highlights” in the Compensation Discussion and Analysis in this proxy statement.
As part of our compensation program, we granted Equity Awards to our named executive officers in 2020, 2021, 2022, 2023 and 2024 that use multiple performance measures, including TSR relative to the S&P 500 Utilities Index and the S&P 500 Index. The TSR for the S&P 500 Utilities Index reflected in column (g) differs from the TSR used for our restricted stock unit awards because the TSR reflected in column (g) is based on the market-capitalization-weighted index while the TSR used for our performance-based restricted stock unit awards is based on our TSR percentile ranking relative to the companies in the S&P 500 Utilities Index, excluding water companies, or the companies in the S&P 500 Index, in each case for the three-year performance period for such awards. For additional information about the performance measures used in our annual long-term incentive plan awards, see “Compensation Components—Long-Term Equity-Based Incentives—Rationale for 2024 Annual LTIP Award Design” and “Compensation Components—Long-Term Equity-Based Incentives—Performance Goals for the 2024 Performance-Based Restricted Stock Units” in the Compensation Discussion and Analysis in this proxy statement.
The value of our TSR is impacted by changes in our stock price. Our year-end stock price was $87.72 in 2024, $74.73 in 2023, $77.27 in 2022, $66.14 in 2021, $63.705 in 2020 and $75.74 in 2019.
(C)
Net income represents the amount of net income reflected in our audited financial statements for the applicable fiscal year and includes preferred stock dividends, preferred stock dividends of subsidiaries and earnings attributable to noncontrolling interests. Earnings attributable to common shares, which exclude these items, were $2,817 in 2024, $3,030 million in 2023, $2,094 million in 2022, $1,254 million in 2021 and $3,764 million in 2020.
CAP, as reported in columns (c) and (e), includes cash awards under the annual bonus plan. The company financial performance measure under the plan is ABP Earnings. A description of ABP Earnings and its relationship to net income is provided below in footnote (D).
(D)
Although we use numerous financial and non-financial performance measures for the purpose of evaluating company performance for our executive compensation program, we have determined that ABP Earnings is the financial performance measure that, in our assessment, represents the most important performance measure (that is not otherwise required to be disclosed in this table) used to link CAP for the most recently completed fiscal year to company performance. The Compensation and Talent Development Committee uses ABP Earnings, a non-GAAP financial measure, as the company financial
performance measure in the annual bonus plan. The amount reported in column (i), which represents earnings used for annual bonus plan purposes (or ABP Earnings), is calculated as Sempra’s GAAP net income, excluding earnings attributable to noncontrolling interests and preferred stock dividends and subject to certain other predefined adjustments. ABP Earnings may be higher or lower than earnings reported in our financial statements (labeled as “earnings attributable to common shares” or “GAAP Earnings”) due to these adjustments, which are described in “Compensation Components—Performance-Based Annual Bonuses—Reconciliation of GAAP Earnings to ABP Earnings” in the Compensation Discussion and Analysis in this proxy statement and in Appendix B to this proxy statement. For additional information about the performance measures used in our annual bonus plan, see “Compensation Components—Performance- Based Annual Bonuses—Annual Bonus Plan Performance Measures” and “Compensation Components—Performance-Based Annual Bonuses—ABP Earnings Goal Determination” in the Compensation Discussion and Analysis in this proxy statement.
(E)
The PEO for 2020 through 2024 was Mr. Martin. The Non-PEO NEOs for 2020 were Dennis V. Arriola, George W. Bilicic, Kevin C. Sagara, Peter R. Wall and Mr. Mihalik. The Non-PEO NEOs for 2021 through 2023 were Messrs. Mihalik, Sagara and Wall and Ms. Sedgwick. The Non-PEO NEOs for 2024 were Messrs. Bird and Mihalik and Mss. Day and Sedgwick.
         
Company Selected Measure Name ABP Earnings          
Named Executive Officers, Footnote
(E)
The PEO for 2020 through 2024 was Mr. Martin. The Non-PEO NEOs for 2020 were Dennis V. Arriola, George W. Bilicic, Kevin C. Sagara, Peter R. Wall and Mr. Mihalik. The Non-PEO NEOs for 2021 through 2023 were Messrs. Mihalik, Sagara and Wall and Ms. Sedgwick. The Non-PEO NEOs for 2024 were Messrs. Bird and Mihalik and Mss. Day and Sedgwick.
         
Peer Group Issuers, Footnote
(B)
The cumulative TSR reflected in each of columns (f) and (g) reflects a five-year measurement period for 2024, a four-year measurement period for 2023, a three-year measurement period for 2022, a two-year measurement period for 2021 and a one-year measurement period for 2020, in each case for the period starting on December 31, 2019 and assuming the reinvestment of all dividends. Consistent with the performance graph included in our 2024 Annual Report to Shareholders, the peer group TSR in column (g) is calculated using the S&P 500 Utilities Index as our peer group, with the returns of each component issuer in such index weighted according to the respective issuers’ market capitalization. For additional information, including historical TSR for the company and the S&P 500 and S&P 500 Utilities Indices, see “Performance—Financial Performance Highlights” in the Compensation Discussion and Analysis in this proxy statement.
As part of our compensation program, we granted Equity Awards to our named executive officers in 2020, 2021, 2022, 2023 and 2024 that use multiple performance measures, including TSR relative to the S&P 500 Utilities Index and the S&P 500 Index. The TSR for the S&P 500 Utilities Index reflected in column (g) differs from the TSR used for our restricted stock unit awards because the TSR reflected in column (g) is based on the market-capitalization-weighted index while the TSR used for our performance-based restricted stock unit awards is based on our TSR percentile ranking relative to the companies in the S&P 500 Utilities Index, excluding water companies, or the companies in the S&P 500 Index, in each case for the three-year performance period for such awards. For additional information about the performance measures used in our annual long-term incentive plan awards, see “Compensation Components—Long-Term Equity-Based Incentives—Rationale for 2024 Annual LTIP Award Design” and “Compensation Components—Long-Term Equity-Based Incentives—Performance Goals for the 2024 Performance-Based Restricted Stock Units” in the Compensation Discussion and Analysis in this proxy statement.
The value of our TSR is impacted by changes in our stock price. Our year-end stock price was $87.72 in 2024, $74.73 in 2023, $77.27 in 2022, $66.14 in 2021, $63.705 in 2020 and $75.74 in 2019.
         
PEO Total Compensation Amount $ 21,513,802 $ 27,421,881 $ 18,608,094 $ 24,675,982 $ 23,181,719  
PEO Actually Paid Compensation Amount $ 28,127,126 11,517,838 34,176,500 11,770,982 1,151,962  
Adjustment To PEO Compensation, Footnote
(A)
The amounts reported in the “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to Non-PEO NEOs” columns do not reflect the actual compensation paid to or realized by the PEO or the Non-PEO NEOs during each applicable year. The calculation of compensation actually paid (CAP) for purposes of this table includes point-in-time valuations as required by the SEC’s prescribed methodology of stock awards and option awards (collectively, Equity Awards), including unvested Equity Awards, and these values fluctuate based on the company’s stock price. See the 2024 Summary Compensation Table for the amounts of the PEO’s and each of the Non-PEO NEO’s base salary, annual bonus plan award and certain other compensation and the 2024 Option Exercises and Stock Vested table for the value realized by each of them upon the vesting of restricted stock unit awards and the exercise of stock options during 2024.
The following adjustments were made to the amounts reported in the Total column of the Summary Compensation Table (SCT) for the applicable year (SCT Total Compensation), which are reported in columns (b) and (d), to derive the CAP reported in columns (c) and (e), respectively:
PEO: SCT Total Compensation to CAP Reconciliation:
Year
Total
Compensation
Reported in SCT
Equity Awards
Reported in SCT(1)
Adjusted Equity
Awards
Included in CAP(2)
Change in
Pension Value
Reported in SCT(3)
Adjusted Change
in Pension Value
Included in CAP(4)
CAP
2024
​$21,513,802
$ (13,503,977)
$20,577,001
$(1,576,450)
$1,116,750
​$28,127,126
2023
$ 27,421,881
$ (12,086,069)
$3,263,893
$(8,259,934)
$1,178,067
$11,517,838
2022
$ 18,608,094
$ (10,185,024)
$26,303,071
$(1,882,015)
$1,332,374
$34,176,500
2021
$ 24,675,982
$(8,916,873)
$4,149,864
$(9,910,201)
$1,772,210
$11,770,982
2020
$ 23,181,719
$(7,266,822)
$(5,217,066)
$ (10,532,416)
$986,547
$1,151,962
(1)
The amounts in this column are equal to the sum of the amounts in the “Stock Awards” and “Option Awards” columns of the SCT for the applicable year (or, for the Non-PEO NEOs, the average of such sums), which represent the grant date fair value of Equity Awards granted in the applicable year.
(2)
The amounts set forth in the following tables are reflected in this column:
PEO: Equity Award Values Included in CAP
Year
Year-End Fair Value of
Current Year Equity
Awards(i)
Change in Fair Value
of Prior Years’ Equity
Awards Unvested at
Year-End(ii)
Fair Value of Equity
Awards Granted and
Vested in Same
Year(iii)
Change in Fair Value
between Prior Year-End
and Vest Date of Equity
Awards Vested in
Current Year(iv)
Adjusted Stock
and Option Award
Values Included
in CAP
2024
$16,397,753
$4,438,893
$    —    
$(259,645)
$ 20,577,001
2023
$8,182,275
$(2,356,136)
$—    
$(2,562,246)
$3,263,893
2022
$16,322,830
$9,756,433
$—    
$223,808
$ 26,303,071
2021
$9,523,749
$(5,293,383)
$—    
$(80,502)
$4,149,864
2020
$6,534,674
$ (11,312,907)
$—    
$(438,833)
$(5,217,066)
(i)
the year-end fair value of any Equity Awards granted in the applicable year that were outstanding and unvested as of the end of the applicable year (or, for the Non-PEO NEOs, the average of such year-end fair values);
(ii)
the amount of change as of the end of the applicable year (from the end of the prior year) in the fair value of Equity Awards granted in prior years that were outstanding and unvested as of the end of the applicable year (or, for the Non-PEO NEOs, the average of such amounts of change);
(iii)
the fair value as of the vesting date of Equity Awards that were granted and vested in the same applicable year (or, for the Non-PEO NEOs, the average of such fair values); and
(iv)
the amount of change as of the vesting date (from the end of the prior year) in the fair value of Equity Awards that were granted in prior years and vested in the applicable year (or, for the Non-PEO NEOs, the average of such amounts of change).
No Equity Awards were granted in prior years that were determined to fail to meet the applicable vesting conditions during the applicable year and no dollar value of dividends or other earnings paid on Equity Awards in the applicable year is not otherwise reflected in the fair value of such award.
The value of Equity Awards included in CAP, as reported in columns (c) and (e), is impacted by changes in our stock price. Our year-end stock price was $87.72 in 2024, $74.73 in 2023, $77.27 in 2022, $66.14 in 2021, $63.705 in 2020 and $75.74 in 2019.
(3)
The amounts in this column reflect the aggregate change in the actuarial present value of accumulated benefits under all defined benefit and actuarial pension plans reported in the SCT for the applicable year. Above-market interest on non-qualified deferred compensation reported in the SCT for the applicable year are not reflected.
(4)
The amounts in this column reflect the actuarily determined service cost for services rendered during each applicable year under all defined benefit and actuarial pension plans. There were no plan amendments to defined benefit and actuarial pension plans during the applicable years that resulted in adjustments for prior service costs.
         
Non-PEO NEO Average Total Compensation Amount $ 6,388,156 6,585,961 4,172,220 4,727,198 5,277,710  
Non-PEO NEO Average Compensation Actually Paid Amount $ 5,249,884 3,417,879 6,055,660 2,995,826 337,680  
Adjustment to Non-PEO NEO Compensation Footnote
(A)
The amounts reported in the “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to Non-PEO NEOs” columns do not reflect the actual compensation paid to or realized by the PEO or the Non-PEO NEOs during each applicable year. The calculation of compensation actually paid (CAP) for purposes of this table includes point-in-time valuations as required by the SEC’s prescribed methodology of stock awards and option awards (collectively, Equity Awards), including unvested Equity Awards, and these values fluctuate based on the company’s stock price. See the 2024 Summary Compensation Table for the amounts of the PEO’s and each of the Non-PEO NEO’s base salary, annual bonus plan award and certain other compensation and the 2024 Option Exercises and Stock Vested table for the value realized by each of them upon the vesting of restricted stock unit awards and the exercise of stock options during 2024.
The following adjustments were made to the amounts reported in the Total column of the Summary Compensation Table (SCT) for the applicable year (SCT Total Compensation), which are reported in columns (b) and (d), to derive the CAP reported in columns (c) and (e), respectively:
Average Non-PEO NEOs: SCT Total Compensation to CAP Reconciliation:
Year
Average Total
Compensation
Reported in SCT
Average Equity
Awards
Reported in SCT(1)
Average Adjusted
Equity Awards
Included in CAP(2)
Average Change in
Pension Value
Reported in SCT(3)
Average Adjusted
Change in
Pension Value
Included in CAP(4)
Average CAP
2024
​$6,388,156
$(2,265,033)
$3,221,109
$(2,315,218)
$220,870
​$5,249,884
2023
$6,585,961
$(2,059,518)
$837,100
$(2,681,185)
$735,521
$3,417,879
2022
$4,172,220
$(1,722,654)
$3,953,284
$(718,428)
$371,238
$6,055,660
2021
$4,727,198
$(1,519,041)
$844,567
$(1,617,653)
$560,755
$2,995,826
2020
$5,277,710
$(1,751,610)
$(1,840,045)
$(1,614,520)
$266,145
$337,680
(1)
The amounts in this column are equal to the sum of the amounts in the “Stock Awards” and “Option Awards” columns of the SCT for the applicable year (or, for the Non-PEO NEOs, the average of such sums), which represent the grant date fair value of Equity Awards granted in the applicable year.
(2)
The amounts set forth in the following tables are reflected in this column:
Non-PEO NEOs: Equity Award Values Included in CAP
Year
Average Year-End Fair
Value of Current Year
Equity Awards(i)
Average Change in
Fair Value of Prior
Years’ Equity Awards
Unvested at Year-End(ii)
Average Fair Value of
Equity Awards
Granted and Vested in
Same Year(iii)
Average Change in Fair
Value between Prior
Year-End and Vest Date
of Equity Awards
Vested in Current
Year(iv)
Average Adjusted
Stock and Option
Award Values
Included in CAP
2024
$2,744,812
$507,000
$
$(30,703)
$3,221,109
2023
$1,419,162
$(312,918)
$
$(269,144)
$837,100
2022
$2,671,503
$1,252,325
$
$29,456
$3,953,284
2021
$1,610,174
$(739,051)
$
$(26,556)
$844,567
2020
$801,071
$(2,488,900)
$47,106
$(199,322)
$(1,840,045)
(i)
the year-end fair value of any Equity Awards granted in the applicable year that were outstanding and unvested as of the end of the applicable year (or, for the Non-PEO NEOs, the average of such year-end fair values);
(ii)
the amount of change as of the end of the applicable year (from the end of the prior year) in the fair value of Equity Awards granted in prior years that were outstanding and unvested as of the end of the applicable year (or, for the Non-PEO NEOs, the average of such amounts of change);
(iii)
the fair value as of the vesting date of Equity Awards that were granted and vested in the same applicable year (or, for the Non-PEO NEOs, the average of such fair values); and
(iv)
the amount of change as of the vesting date (from the end of the prior year) in the fair value of Equity Awards that were granted in prior years and vested in the applicable year (or, for the Non-PEO NEOs, the average of such amounts of change).
No Equity Awards were granted in prior years that were determined to fail to meet the applicable vesting conditions during the applicable year and no dollar value of dividends or other earnings paid on Equity Awards in the applicable year is not otherwise reflected in the fair value of such award.
The value of Equity Awards included in CAP, as reported in columns (c) and (e), is impacted by changes in our stock price. Our year-end stock price was $87.72 in 2024, $74.73 in 2023, $77.27 in 2022, $66.14 in 2021, $63.705 in 2020 and $75.74 in 2019.
(3)
The amounts in this column reflect the aggregate change in the actuarial present value of accumulated benefits under all defined benefit and actuarial pension plans reported in the SCT for the applicable year. Above-market interest on non-qualified deferred compensation reported in the SCT for the applicable year are not reflected.
(4)
The amounts in this column reflect the actuarily determined service cost for services rendered during each applicable year under all defined benefit and actuarial pension plans. There were no plan amendments to defined benefit and actuarial pension plans during the applicable years that resulted in adjustments for prior service costs.
         
Compensation Actually Paid vs. Total Shareholder Return          
Compensation Actually Paid vs. Net Income          
Compensation Actually Paid vs. Company Selected Measure          
Total Shareholder Return Vs Peer Group          
Tabular List, Table
Important Performance Measures
As described in the Compensation Discussion and Analysis in this proxy statement, one of the key principles of our executive compensation philosophy is to align pay with short-term and long-term company performance. In our assessment, the most important performance measures used to link executive compensation actually paid to our named executive officers for the most recently completed fiscal year to the company’s performance are listed in the table below. This list includes Safety Measures and Sustainability Measures, which are non-financial performance measures.
Performance Measure
Description
ABP Earnings
See footnote (D) to the 2024 Pay-Versus-Performance table for information about the use of ABP Earnings in our 2024 executive compensation program.
Relative TSR vs. S&P 500 Utilities Index
See footnote (B) to the 2024 Pay-Versus-Performance table for information about the use of relative TSR in our 2024 executive compensation program.
Relative TSR vs. S&P 500 Index
See footnote (B) to the 2024 Pay-Versus-Performance table for information about the use of relative TSR in our 2024 executive compensation program.
EPS Growth
Our annual long-term incentive plan awards granted in 2020, 2021, 2022, 2023 and 2024 include a performance-based restricted stock unit award linked to relative EPS growth. The award measures the CAGR of our EPS for the relevant three-year period. The payout scale for awards granted through 2023 is based on the three-year analyst consensus estimates for our S&P 500 Utilities Index peers. The payout scale for awards granted in 2024 is based on the percentile ranking of Sempra’s three-year adjusted EPS CAGR relative to the adjusted EPS CAGRs of our S&P 500 Utilities Index peers. Calculation of EPS for purposes of the applicable LTIP award cycle includes certain adjustments, as described under “Compensation Components—Long-Term Equity-Based Incentives—Performance Goals for the 2024 Performance-Based Restricted Stock Units—EPS Growth” in the Compensation Discussion and Analysis in this proxy statement.
Safety Measures
Our annual bonus plan includes Safety Measures as one of its performance measures. These measures are related to employee safety and SDG&E and SoCalGas operational measures related to public safety, and they were selected by the Compensation and Talent Development Committee because the committee believes that strong safety performance is critical to our infrastructure-intensive businesses. These measures are described under “Compensation Components—Performance-Based Annual Bonuses—ABP Earnings Goal Determination” in the Compensation Discussion and Analysis in this proxy statement.
Sustainability Measures
Our annual bonus plan includes Sustainability Measures as one of its performance measures. These measures reflect the company’s key sustainability priorities and initiatives, and they were selected by the Compensation and Talent Development Committee to incentivize progress on these commitments. These measures are described under “Compensation Components—Performance-Based Annual Bonuses—ABP Earnings Goal Determination” in the Compensation Discussion and Analysis in this proxy statement.
         
Total Shareholder Return Amount $ 136 113 113 94 87  
Peer Group Total Shareholder Return Amount $ 138 $ 112 $ 120 $ 118 $ 100  
Company Selected Measure Amount 3,158,000,000 2,977,000,000 2,947,000,000 2,558,000,000 2,339,000,000  
PEO Name Mr. Martin Mr. Martin Mr. Martin Mr. Martin Mr. Martin  
Equity Awards Adjustments, Footnote
(2)
The amounts set forth in the following tables are reflected in this column:
PEO: Equity Award Values Included in CAP
Year
Year-End Fair Value of
Current Year Equity
Awards(i)
Change in Fair Value
of Prior Years’ Equity
Awards Unvested at
Year-End(ii)
Fair Value of Equity
Awards Granted and
Vested in Same
Year(iii)
Change in Fair Value
between Prior Year-End
and Vest Date of Equity
Awards Vested in
Current Year(iv)
Adjusted Stock
and Option Award
Values Included
in CAP
2024
$16,397,753
$4,438,893
$    —    
$(259,645)
$ 20,577,001
2023
$8,182,275
$(2,356,136)
$—    
$(2,562,246)
$3,263,893
2022
$16,322,830
$9,756,433
$—    
$223,808
$ 26,303,071
2021
$9,523,749
$(5,293,383)
$—    
$(80,502)
$4,149,864
2020
$6,534,674
$ (11,312,907)
$—    
$(438,833)
$(5,217,066)
Non-PEO NEOs: Equity Award Values Included in CAP
Year
Average Year-End Fair
Value of Current Year
Equity Awards(i)
Average Change in
Fair Value of Prior
Years’ Equity Awards
Unvested at Year-End(ii)
Average Fair Value of
Equity Awards
Granted and Vested in
Same Year(iii)
Average Change in Fair
Value between Prior
Year-End and Vest Date
of Equity Awards
Vested in Current
Year(iv)
Average Adjusted
Stock and Option
Award Values
Included in CAP
2024
$2,744,812
$507,000
$
$(30,703)
$3,221,109
2023
$1,419,162
$(312,918)
$
$(269,144)
$837,100
2022
$2,671,503
$1,252,325
$
$29,456
$3,953,284
2021
$1,610,174
$(739,051)
$
$(26,556)
$844,567
2020
$801,071
$(2,488,900)
$47,106
$(199,322)
$(1,840,045)
(i)
the year-end fair value of any Equity Awards granted in the applicable year that were outstanding and unvested as of the end of the applicable year (or, for the Non-PEO NEOs, the average of such year-end fair values);
(ii)
the amount of change as of the end of the applicable year (from the end of the prior year) in the fair value of Equity Awards granted in prior years that were outstanding and unvested as of the end of the applicable year (or, for the Non-PEO NEOs, the average of such amounts of change);
(iii)
the fair value as of the vesting date of Equity Awards that were granted and vested in the same applicable year (or, for the Non-PEO NEOs, the average of such fair values); and
(iv)
the amount of change as of the vesting date (from the end of the prior year) in the fair value of Equity Awards that were granted in prior years and vested in the applicable year (or, for the Non-PEO NEOs, the average of such amounts of change).
No Equity Awards were granted in prior years that were determined to fail to meet the applicable vesting conditions during the applicable year and no dollar value of dividends or other earnings paid on Equity Awards in the applicable year is not otherwise reflected in the fair value of such award.
The value of Equity Awards included in CAP, as reported in columns (c) and (e), is impacted by changes in our stock price. Our year-end stock price was $87.72 in 2024, $74.73 in 2023, $77.27 in 2022, $66.14 in 2021, $63.705 in 2020 and $75.74 in 2019.
         
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 3,500,000,000 $ 3,618,000,000 $ 2,285,000,000 $ 1,463,000,000 $ 4,105,000,000  
Share Price $ 87.72 $ 74.73 $ 77.27 $ 66.14 $ 63.705 $ 75.74
Net Income (Loss) Available to Common Stockholders, Basic $ 2,817,000,000 $ 3,030,000,000 $ 2,094,000,000 $ 1,254,000,000 $ 3,764,000,000  
Measure:: 1            
Pay vs Performance Disclosure            
Name ABP Earnings          
Non-GAAP Measure Description
(D)
Although we use numerous financial and non-financial performance measures for the purpose of evaluating company performance for our executive compensation program, we have determined that ABP Earnings is the financial performance measure that, in our assessment, represents the most important performance measure (that is not otherwise required to be disclosed in this table) used to link CAP for the most recently completed fiscal year to company performance. The Compensation and Talent Development Committee uses ABP Earnings, a non-GAAP financial measure, as the company financial
performance measure in the annual bonus plan. The amount reported in column (i), which represents earnings used for annual bonus plan purposes (or ABP Earnings), is calculated as Sempra’s GAAP net income, excluding earnings attributable to noncontrolling interests and preferred stock dividends and subject to certain other predefined adjustments. ABP Earnings may be higher or lower than earnings reported in our financial statements (labeled as “earnings attributable to common shares” or “GAAP Earnings”) due to these adjustments, which are described in “Compensation Components—Performance-Based Annual Bonuses—Reconciliation of GAAP Earnings to ABP Earnings” in the Compensation Discussion and Analysis in this proxy statement and in Appendix B to this proxy statement. For additional information about the performance measures used in our annual bonus plan, see “Compensation Components—Performance- Based Annual Bonuses—Annual Bonus Plan Performance Measures” and “Compensation Components—Performance-Based Annual Bonuses—ABP Earnings Goal Determination” in the Compensation Discussion and Analysis in this proxy statement.
         
Measure:: 2            
Pay vs Performance Disclosure            
Name Relative TSR vs. S&P 500 Utilities Index          
Measure:: 3            
Pay vs Performance Disclosure            
Name Relative TSR vs. S&P 500 Index          
Measure:: 4            
Pay vs Performance Disclosure            
Name EPS Growth          
Measure:: 5            
Pay vs Performance Disclosure            
Name Safety Measures          
Measure:: 6            
Pay vs Performance Disclosure            
Name Sustainability Measures          
PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount $ (1,576,450) (8,259,934) (1,882,015) (9,910,201) (10,532,416)  
PEO | Aggregate Pension Adjustments Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount 1,116,750 1,178,067 1,332,374 1,772,210 986,547  
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount (13,503,977) (12,086,069) (10,185,024) (8,916,873) (7,266,822)  
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount 20,577,001 3,263,893 26,303,071 4,149,864 (5,217,066)  
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount 16,397,753 8,182,275 16,322,830 9,523,749 6,534,674  
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount 4,438,893 (2,356,136) 9,756,433 (5,293,383) (11,312,907)  
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount 0 0 0 0 0  
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount (259,645) (2,562,246) 223,808 (80,502) (438,833)  
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount (2,315,218) (2,681,185) (718,428) (1,617,653) (1,614,520)  
Non-PEO NEO | Aggregate Pension Adjustments Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount 220,870 735,521 371,238 560,755 266,145  
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount (2,265,033) (2,059,518) (1,722,654) (1,519,041) (1,751,610)  
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount 3,221,109 837,100 3,953,284 844,567 (1,840,045)  
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount 2,744,812 1,419,162 2,671,503 1,610,174 801,071  
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount 507,000 (312,918) 1,252,325 (739,051) (2,488,900)  
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount 0 0 0 0 47,106  
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount $ (30,703) $ (269,144) $ 29,456 $ (26,556) $ (199,322)