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DEBT AND CREDIT FACILITIES
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Debt and Credit Facilities DEBT AND CREDIT FACILITIES
SHORT-TERM DEBT
Committed Lines of Credit
At December 31, 2022, Sempra had an aggregate capacity of $9.7 billion under seven primary committed lines of credit, which provide liquidity and support our commercial paper programs. Because our commercial paper programs are supported by some of these lines of credit, we reflect the amount of commercial paper outstanding, before reductions of any unamortized discounts, and any letters of credit outstanding as a reduction to the available unused credit capacity in the following table.
COMMITTED LINES OF CREDIT
(Dollars in millions)
December 31, 2022
BorrowerExpiration date of facilityTotal facility
Commercial
paper
outstanding
Amounts outstandingAvailable unused credit
SempraOctober 2027$4,000 $(454)$— $3,546 
SDG&EOctober 20271,500 (205)— 1,295 
SoCalGasOctober 20271,200 (100)— 1,100 
SI PartnersNovember 20241,000 — (510)490 
IEnova and SI PartnersSeptember 2023350 — (264)86 
IEnova and SI PartnersDecember 2023150 — — 150 
IEnova and SI PartnersFebruary 20241,500 — (970)530 
Total
$9,700 $(759)$(1,744)$7,197 
The principal terms of Sempra’s, SDG&E’s and SoCalGas’ lines of credit reflected in the table above include the following:
▪Each facility has a syndicate of 23 lenders. No single lender has greater than a 6% share in any facility.
▪Sempra’s, SDG&E’s and SoCalGas’ facilities provide for the issuance of $200 million, $100 million and $150 million, respectively, of letters of credit. Subject to obtaining commitments from existing or new lenders and satisfaction of other specified conditions, Sempra, SDG&E and SoCalGas each has the right to increase its letter of credit commitment to up to $500 million, $250 million and $250 million, respectively.
▪Borrowings bear interest at a benchmark rate plus a margin that varies with the borrower’s credit rating.
▪Each borrower must maintain a ratio of indebtedness to total capitalization (as defined in each of the applicable credit facilities) of no more than 65% at the end of each quarter. At December 31, 2022, each entity was in compliance with this ratio under its respective credit facility.
The principal terms of SI Partners’ line of credit reflected in the table above include the following:
▪A syndication of 12 lenders each having an 8.33% share in the facility.
▪The facility provides for issuance of $200 million of letters of credit.
▪The facility includes a $100 million swingline loan sub-limit, whereby any outstanding amounts would reduce available unused credit. No swingline loan borrowings were outstanding at December 31, 2022.
▪Borrowings are issued in U.S. dollars and letters of credit can be issued in U.S. dollars or Mexican pesos.
▪Borrowings bear interest at a benchmark rate plus a margin that varies with SI Partners’ credit rating.
▪SI Partners must maintain a ratio of consolidated adjusted net indebtedness to consolidated earnings before interest, taxes, depreciation and amortization (as defined in its credit facility) of no more than 5.25 to 1.00 as of the end of each quarter. At December 31, 2022, SI Partners was in compliance with this ratio.
The principal terms of the three lines of credit reflected in the table above that are shared by IEnova and SI Partners include the following:
▪The $350 million revolving credit facility has a single lender and borrowings bear interest at a per annum rate equal to 3-month LIBOR plus 54 bps through December 29, 2022. On December 30, 2022, the facility was amended to replace the interest rate to Term SOFR plus 64 bps.
▪The $150 million revolving credit facility has a single lender and borrowings bear interest at a per annum rate equal to Term SOFR plus 70 bps.
▪The $1.5 billion revolving credit facility has a syndicate of 10 lenders and borrowings bear interest at a per annum rate equal to 3-month LIBOR plus 80 bps through December 29, 2022. On December 30, 2022, the facility was amended to replace the interest rate to Term SOFR plus 90 bps.
▪Borrowings can be issued in U.S. dollars only.
Uncommitted Line of Credit
ECA LNG Phase 1 has an uncommitted line of credit, which is generally used for working capital requirements, with an aggregate capacity of $200 million of which $49 million was outstanding at December 31, 2022. The amount outstanding is before reductions of any unamortized discounts. The facility expires in August 2023 and borrowings can be in U.S. dollars or Mexican pesos. At December 31, 2022, outstanding amounts were borrowed in Mexican pesos and bear interest at a variable rate based on the 28-day Interbank Equilibrium Interest Rate plus 105 bps. Borrowings made in U.S. dollars bear interest at a variable rate based on the 1-month or 3-month LIBOR plus 105 bps.
Uncommitted Letters of Credit
Outside of our domestic and foreign credit facilities, we have bilateral unsecured standby letter of credit capacity with select lenders that is uncommitted and supported by reimbursement agreements. At December 31, 2022, we had $594 million in standby letters of credit outstanding under these agreements.
UNCOMMITTED LETTERS OF CREDIT
(Dollars in millions)
December 31, 2022
Expiration date rangeUncommitted letters of credit outstanding
SDG&EMay 2023 - January 2024$15 
SoCalGasMarch 2023 - November 202320 
Sempra InfrastructureJanuary 2023 - October 2043391 
Parent and otherMarch 2023 - November 2023168 
Total
$594 
Term Loan
In July 2022, SoCalGas entered into an $800 million, 364-day term loan agreement with a maturity date of July 6, 2023. In August 2022, SoCalGas borrowed $800 million, net of negligible debt issuance costs, under the term loan agreement. The borrowing bears interest at benchmark rates plus 70 bps and is due in full upon maturity. SoCalGas used the proceeds for payment of a portion of the costs relating to litigation pertaining to the Leak.
Weighted-Average Interest Rates
The weighted-average interest rates on all short-term debt were as follows:
WEIGHTED-AVERAGE INTEREST RATES
December 31,
20222021
Sempra5.57 %0.60 %
SDG&E4.76 0.65 
SoCalGas4.71 0.21 
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,
 20222021
SDG&E: 
First mortgage bonds (collateralized by plant assets): 
1.914% payable 2015 through February 2022
$— $17 
3.6% September 1, 2023
450 450 
2.5% May 15, 2026
500 500 
6% June 1, 2026
250 250 
1.7% October 1, 2030
800 800 
3% March 15, 2032
500 — 
5.35% May 15, 2035
250 250 
6.125% September 15, 2037
250 250 
6% June 1, 2039
300 300 
5.35% May 15, 2040
250 250 
4.5% August 15, 2040
500 500 
3.95% November 15, 2041
250 250 
4.3% April 1, 2042
250 250 
3.75% June 1, 2047
400 400 
4.15% May 15, 2048
400 400 
4.1% June 15, 2049
400 400 
3.32% April 15, 2050
400 400 
2.95% August 15, 2051
750 750 
3.7% March 15, 2052
500 — 
 7,400 6,417 
Other long-term debt (uncollateralized): 
Notes at variable rates (5.17% at December 31, 2022) February 18, 2024(1)
400 — 
Finance lease obligations:
Purchased-power contracts1,194 1,217 
Other62 57 
1,656 1,274 
9,056 7,691 
Current portion of long-term debt(489)(49)
Unamortized discount on long-term debt(20)(17)
Unamortized debt issuance costs(50)(44)
Total SDG&E
$8,497 $7,581 
SoCalGas:
 
First mortgage bonds (collateralized by plant assets): 
3.15% September 15, 2024
$500 $500 
3.2% June 15, 2025
350 350 
2.6% June 15, 2026
500 500 
2.55% February 1, 2030
650 650 
5.75% November 15, 2035
250 250 
5.125% November 15, 2040
300 300 
3.75% September 15, 2042
350 350 
4.45% March 15, 2044
250 250 
4.125% June 1, 2048
400 400 
4.3% January 15, 2049
550 550 
3.95% February 15, 2050
350 350 
6.35% November 15, 2052
600 — 
 5,050 4,450 
Other long-term debt (uncollateralized):
 
Notes at variable rates (5.10% at December 31, 2022) September 14, 2023(1)
300 300 
1.875% Notes May 14, 2026(1)
4 4 
2.95% Notes April 15, 2027
700 — 
5.67% Notes January 18, 2028(2)
5 5 
Finance lease obligations87 61 
 1,096 370 
 6,146 4,820 
Current portion of long-term debt(318)(11)
Unamortized discount on long-term debt(12)(7)
Unamortized debt issuance costs(36)(29)
Total SoCalGas
$5,780 $4,773 
LONG-TERM DEBT AND FINANCE LEASES (CONTINUED)
(Dollars in millions)
 December 31,
 20222021
Sempra: 
Other long-term debt (uncollateralized): 
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 
Sempra Infrastructure:
Other long-term debt (uncollateralized unless otherwise noted):
6.3% Notes (4.124% after cross-currency swap effective 2013) February 2, 2023
201 189 
Loan at variable rates (7.54% at December 31, 2022) December 9, 2025
575 341 
Notes at variable rates (5.13% after floating-to-fixed rate swaps effective 2014),
payable December 15, 2016 through December 15, 2026, collateralized by plant assets(2)
— 154 
3.75% Notes January 14, 2028
300 300 
3.25% Notes January 15, 2032
400 — 
Loan at variable rates (4.0275% after floating-to-fixed rate swap effective 2019)
payable June 15, 2022 through November 19, 2034(1)
196 200 
2.9% Loan payable June 15, 2022 through November 19, 2034(1)
236 241 
Loan at variable rates (2.38% after floating-to-fixed rate swap effective 2020)
payable June 15, 2022 through November 19, 2034(1)
98 100 
4.875% Notes January 14, 2048
540 540 
4.75% Notes January 15, 2051
800 800 
 10,654 8,923 
Current portion of long-term debt(212)(46)
Unamortized discount on long-term debt(62)(65)
Unamortized debt issuance costs(109)(98)
Total other Sempra10,271 8,714 
Total Sempra$24,548 $21,068 
(1)    Callable long-term debt not subject to make-whole provisions.
(2)    Debt is not callable.

At December 31, 2022, scheduled maturities of long-term debt are as follows:
MATURITIES OF LONG-TERM DEBT(1)
(Dollars in millions)
 SDG&ESoCalGasOther
Sempra		Total
Sempra
2023$450 $300 $212 $962 
2024400 500 30 930 
2025— 350 1,374 1,724 
2026750 504 49 1,303 
2027— 700 799 1,499 
Thereafter6,200 3,705 8,190 18,095 
Total$7,800 $6,059 $10,654 $24,513 
(1)    Excludes finance lease obligations, discounts, and debt issuance costs.

Various long-term obligations totaling $12.1 billion at Sempra at December 31, 2022 are unsecured. This includes unsecured long-term obligations totaling $400 million at SDG&E and $1.0 billion at SoCalGas.
Callable Long-Term Debt
At the option of Sempra, SDG&E and SoCalGas, certain debt at December 31, 2022 is callable subject to premiums:
CALLABLE LONG-TERM DEBT
(Dollars in millions)
 SDG&ESoCalGasOther
Sempra		Total
Sempra
Not subject to make-whole provisions$400 $304 $2,288 $2,992 
Subject to make-whole provisions7,400 5,750 8,366 21,516 
First Mortgage Bonds
SDG&E and SoCalGas issue first mortgage bonds secured by liens on their respective utility plant assets. SDG&E and SoCalGas may issue additional first mortgage bonds if in compliance with the provisions of their bond agreements (indentures). These indentures require, among other things, the satisfaction of pro forma earnings-coverage tests on first mortgage bond interest and the availability of sufficient mortgaged property to support the additional bonds, after giving effect to prior bond redemptions. The most restrictive of these tests (the property test) would permit the issuance, subject to CPUC authorization, of additional first mortgage bonds of $7.8 billion at SDG&E and $1.9 billion at SoCalGas at December 31, 2022.
SDG&E
In March 2022, SDG&E issued $500 million aggregate principal amount of 3.00% first mortgage bonds due in full upon maturity on March 15, 2032 and received proceeds of $494 million (net of debt discount, underwriting discounts and debt issuance costs of $6 million), and $500 million aggregate principal amount of 3.70% first mortgage bonds due in full upon maturity on March 15, 2052 and received proceeds of $492 million (net of debt discount, underwriting discounts and debt issuance costs of $8 million). Each series of first mortgage bonds is redeemable prior to maturity, subject to its terms, and in certain circumstances subject to make-whole provisions. SDG&E used the net proceeds for repayment of commercial paper and its 364-day term loan and for capital expenditures and other general corporate purposes.
SoCalGas
In November 2022, SoCalGas issued $600 million aggregate principal amount of 6.35% green first mortgage bonds due in full upon maturity on November 15, 2052 and received proceeds of $592 million (net of debt discount, underwriting discounts and debt issuance costs of $8 million). The first mortgage bonds are redeemable prior to maturity, subject to their terms, and in certain circumstances subject to make-whole provisions. SoCalGas intends to use the net proceeds to finance or refinance eligible projects that fall into one or more of the following categories: pollution prevention and control, green buildings and clean transportation.
Other Long-Term Debt
Sempra
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 notes is redeemable prior to maturity, subject to its terms, and in certain circumstances subject to make-whole provisions. We used the net proceeds for general corporate purposes and repayment of commercial paper.
SDG&E
In February 2022, SDG&E entered into a $400 million, two-year term loan with a maturity date of February 18, 2024. SDG&E borrowed $200 million in the three months ended March 31, 2022 and an additional $200 million in the three months ended June 30, 2022. The borrowings bear interest at benchmark rates plus 62.5 bps and are due in full upon maturity. The margin is based on SDG&E’s long-term senior unsecured credit rating. SDG&E used the net proceeds for repayment of commercial paper and for general corporate purposes.
SoCalGas
In March 2022, SoCalGas issued $700 million aggregate principal amount of 2.95% senior unsecured notes due in full upon maturity on April 15, 2027 and received proceeds of $691 million (net of debt discount, underwriting discounts and debt issuance costs of $9 million). The notes are redeemable prior to maturity, subject to their terms, and in certain circumstances subject to make-whole provisions. SoCalGas used the net proceeds for repayment of commercial paper and general corporate purposes.
Sempra Infrastructure
SI Partners. In January 2022, SI Partners completed a private offering of $400 million in aggregate principal of 3.25% senior unsecured notes due in full upon maturity on January 15, 2032 to “qualified institutional buyers” as defined in Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and non-U.S. persons outside the U.S. under Regulation S under the Securities Act. The notes are redeemable prior to maturity, subject to their terms, and in certain circumstances subject to make-whole provisions, and holders of the notes have the right to require SI Partners to offer to purchase some or all of the notes at a premium upon the occurrence of specific kinds of change of control events that result in a downgrade of SI Partners’ credit ratings. Sempra Infrastructure received proceeds of $390 million (net of debt discount, underwriting discounts and debt issuance costs of $10 million). Sempra Infrastructure used the net proceeds for general corporate purposes, including the repayment of certain indebtedness of its subsidiaries.
ECA LNG Phase 1. In December 2020, ECA LNG Phase 1 entered into a five-year loan agreement with a syndicate of nine external lenders for an aggregate principal amount of up to $1.5 billion. Sempra, IEnova and TotalEnergies SE provided guarantees for repayment of the loans plus accrued and unpaid interest based on their proportionate ownership interest in ECA LNG Phase 1 of 41.7%, 41.7% and 16.6%, respectively. At issuance, borrowings under the loan agreement bore interest at a weighted-average blended rate of 2.70% plus a benchmark interest rate per annum equal to (a) the LIBOR for such interest period, divided by (b) one minus the Eurodollar Reserve Percentage, provided that in no event shall the benchmark interest rate at any time be less than 0% per annum. In July 2022, ECA LNG Phase 1 replaced Sempra with IEnova as the guarantor and replaced two of the nine external lenders and their combined principal commitment of $203 million (of which $64 million was outstanding and repaid) with a shareholder loan from IEnova, thereby reducing the syndicate to seven external lenders, increasing the weighted-average blended rate to 2.86% and reducing the aggregate principal amount of borrowing capacity from external lenders to $1.3 billion. In December 2022, the loan agreement was amended to change the benchmark interest rate per annum to (a) the Term SOFR based on a tenor comparable to the applicable interest period, plus (b) a 0.10% margin per annum, for any interest period beginning on or after December 30, 2022. At December 31, 2022 and December 31, 2021, $575 million and $341 million, respectively, of borrowings from external lenders were outstanding under the loan agreement, with a weighted-average interest rate of 7.54% and 2.93%, respectively.
IEnova Pipelines. In September 2022, Sempra Infrastructure used proceeds from borrowings against IEnova’s committed and uncommitted lines of credit to fully repay $141 million of outstanding principal plus accrued and unpaid interest on the IEnova Pipelines variable-rate loans prior to scheduled maturity dates through 2026, and recognized approximately $2 million ($1 million after tax and NCI) in charges associated with the write-off of acquisition-related fair value adjustments offset by a hedge termination benefit.