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SEMPRA - SEGMENT INFORMATION
9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
SEMPRA - SEGMENT INFORMATION SEMPRA – SEGMENT INFORMATION
Sempra has three separately managed reportable segments, as follows:
Sempra California provides natural gas and electric service to Southern California and part of central California through Sempra’s wholly owned subsidiaries, SDG&E and SoCalGas.
Sempra Texas Utilities holds our investment in Oncor Holdings, which owns an 80.25% interest in Oncor, a regulated electric transmission and distribution utility serving customers in the north-central, eastern, western and panhandle regions of Texas; and our indirect 50% interest in Sharyland Holdings L.P., which owns Sharyland Utilities, a regulated electric transmission utility serving customers near the Texas-Mexico border.
Sempra Infrastructure includes the operating companies of our subsidiary, SI Partners, as well as a holding company and certain services companies. Sempra Infrastructure develops, builds, operates and invests in energy infrastructure to help enable the energy transition in North American markets and globally. Sempra Infrastructure owns a 70% interest in SI Partners.
The cost of common services shared by the business segments is assigned directly or allocated based on various cost factors, depending on the nature of the service provided. Interest income and expense is recorded on intercompany loans. The loan balances and related interest are eliminated in consolidation.
The following tables show selected information by segment from our Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Cash Flows and Condensed Consolidated Statements of Operations. Amounts labeled as “All other” in the following tables consist primarily of activities of parent organizations.
SEGMENT INFORMATION
(Dollars in millions)
September 30,
2024
December 31,
2023
ASSETS
Sempra California$56,220 $53,430 
Sempra Texas Utilities15,292 14,392 
Sempra Infrastructure21,828 19,430 
All other1,434 967 
Intersegment receivables(1,026)(1,038)
Total$93,748 $87,181 
EQUITY METHOD AND OTHER INVESTMENTS
Sempra Texas Utilities$15,280 $14,380 
Sempra Infrastructure2,291 2,129 
All other
Total$17,572 $16,510 
Nine months ended September 30,
20242023
EXPENDITURES FOR PROPERTY, PLANT & EQUIPMENT
Sempra California$3,329 $3,344 
Sempra Infrastructure2,433 2,725 
All other
Total$5,765 $6,074 
SEGMENT INFORMATION (CONTINUED)
(Dollars in millions)
Three months ended September 30,Nine months ended September 30,
2024202320242023
REVENUES
Sempra California$2,256 $2,725 $8,022 $10,840 
Sempra Infrastructure538 629 1,466 2,485 
Adjustments and eliminations(1)(1)(1)
Intersegment revenues(1)
(17)(21)(60)(95)
Total$2,776 $3,334 $9,427 $13,229 
DEPRECIATION AND AMORTIZATION
Sempra California$536 $491 $1,585 $1,435 
Sempra Infrastructure76 71 221 210 
All other
Total$614 $563 $1,811 $1,651 
INTEREST INCOME
Sempra California$$$12 $19 
Sempra Infrastructure19 25 
All other17 17 
Intercompany eliminations— (1)(1)(1)
Total$17 $19 $47 $60 
INTEREST EXPENSE
Sempra California$213 $196 $627 $577 
Sempra Texas Utilities— — 
Sempra Infrastructure— — 127 
All other116 109 319 292 
Intercompany eliminations(2)— (3)(1)
Total$328 $312 $944 $995 
INCOME TAX (BENEFIT) EXPENSE
Sempra California$(37)$(20)$90 $64 
Sempra Texas Utilities— — 
Sempra Infrastructure(43)24 (67)555 
All other(26)(56)(87)(120)
Total$(105)$(52)$(63)$499 
EQUITY EARNINGS
Equity earnings, before income tax:
Sempra Texas Utilities$$$$
Sempra Infrastructure 130 131 420 413 
132 133 426 418 
Equity earnings, net of income tax:
Sempra Texas Utilities261 305 646 548 
Sempra Infrastructure61 41 163 120 
322 346 809 668 
Total$454 $479 $1,235 $1,086 
EARNINGS (LOSSES) ATTRIBUTABLE TO COMMON SHARES
Sempra California$247 $290 $1,145 $1,247 
Sempra Texas Utilities261 305 646 548 
Sempra Infrastructure230 223 652 746 
All other(100)(97)(291)(248)
Total$638 $721 $2,152 $2,293 
(1)    Revenues for reportable segments include intersegment revenues of $6 and $11 for the three months ended September 30, 2024 and $16 and $44 for the nine months ended September 30, 2024; $5 and $16 for the three months ended September 30, 2023 and $14 and $81 for the nine months ended September 30, 2023 for Sempra California and Sempra Infrastructure, respectively.