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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Commodity Derivative Volumes Table
The following table summarizes net energy derivative volumes.
NET ENERGY DERIVATIVE VOLUMES
(Quantities in millions)
CommodityUnit of measureSeptember 30, 2024December 31, 2023
Sempra:
Natural gasMMBtu455 361 
ElectricityMWh— 1 
Congestion revenue rightsMWh16 36 
SDG&E:
Natural gasMMBtu18 17 
Congestion revenue rightsMWh16 36 
SoCalGas:
Natural gasMMBtu405 268 
Notional Amounts of Derivatives Table
The following table presents the notional amounts of our interest rate derivatives, excluding those in our equity method investments.
INTEREST RATE DERIVATIVES
(Dollars in millions)
 September 30, 2024December 31, 2023
 Notional amountMaturitiesNotional amountMaturities
Sempra:    
Cash flow hedges(1)
$3,571 2024-2034$4,451 2024-2048
Undesignated derivatives(2)
4,163 2026-2048— — 
(1)    At September 30, 2024, cash flow hedges include Port Arthur LNG interest rate swaps with a maximum notional amount of $3,286 that mature in March 2026. At September 30, 2024 and December 31, 2023, cash flow hedges accrued interest based on a notional amount of $1,422 and $488, respectively.
(2)    At September 30, 2024, undesignated derivatives consist of Port Arthur LNG de-designated interest rate swaps with a maximum notional amount of $4,163 that begin hedging interest payments in March 2026.
The following table presents the notional amounts of our foreign currency derivatives, excluding those in our equity method investments.
FOREIGN CURRENCY DERIVATIVES
(Dollars in millions)
 September 30, 2024December 31, 2023
 Notional amountMaturitiesNotional amountMaturities
Sempra:    
Foreign currency derivatives$201 2024-2026$176 2024-2025
Derivative Instruments on the Condensed Consolidated Balance Sheets Table The following tables provide the fair values of derivative instruments on the Condensed Consolidated Balance Sheets, including the amount of cash collateral receivables that were not offset because the cash collateral was in excess of liability positions. We discuss the fair value of derivative assets and liabilities in Note 8.
DERIVATIVE INSTRUMENTS ON THE CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in millions)
 September 30, 2024
 
Current assets: Fixed-price contracts and other derivatives(1)
Other long-term assets
Other current
liabilities
Deferred credits and other
Sempra:    
Derivatives designated as hedging instruments:    
Interest rate instruments$14 $23 $— $(3)
Foreign exchange instruments5 1 (1)— 
Derivatives not designated as hedging instruments:    
Interest rate instruments— 40 — — 
Commodity contracts not subject to rate recovery22 37 (17)(47)
Associated offsetting commodity contracts(14)(26)14 26 
Commodity contracts subject to rate recovery5 7 (52)(14)
Associated offsetting commodity contracts(2)(3)2 3 
Associated offsetting cash collateral— — 9 5 
Net amounts presented on the balance sheet30 79 (45)(30)
Additional cash collateral for commodity contracts
not subject to rate recovery
55 — — — 
Additional cash collateral for commodity contracts
subject to rate recovery
26 — — — 
Total(2)
$111 $79 $(45)$(30)
SDG&E:    
Derivatives not designated as hedging instruments:    
Commodity contracts subject to rate recovery$4 $7 $(11)$(8)
Associated offsetting commodity contracts(1)(3)1 3 
Associated offsetting cash collateral— — 9 5 
Net amounts presented on the balance sheet3 4 (1)— 
Additional cash collateral for commodity contracts
subject to rate recovery
24 — — — 
Total(2)
$27 $4 $(1)$— 
SoCalGas:    
Derivatives not designated as hedging instruments:    
Commodity contracts subject to rate recovery$1 $— $(41)$(6)
Associated offsetting commodity contracts(1)— 1 — 
Net amounts presented on the balance sheet— — (40)(6)
Additional cash collateral for commodity contracts
subject to rate recovery
2 — — — 
Total$2 $— $(40)$(6)
(1)    Included in Other Current Assets for SDG&E and SoCalGas.
(2)    Normal purchase contracts previously measured at fair value are excluded.
DERIVATIVE INSTRUMENTS ON THE CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(Dollars in millions)
 December 31, 2023
Current assets: Fixed-price contracts and other derivatives(1)
Other long-term assetsOther current liabilitiesDeferred credits and other
Sempra:    
Derivatives designated as hedging instruments:    
Interest rate instruments$17 $70 $— $— 
Foreign exchange instruments— — (9)— 
Derivatives not designated as hedging instruments:    
Commodity contracts not subject to rate recovery173 52 (170)(56)
Associated offsetting commodity contracts(169)(51)169 51 
Commodity contracts subject to rate recovery10 8 (228)(9)
Associated offsetting commodity contracts(5)(2)5 2 
Associated offsetting cash collateral— — 12 7 
Net amounts presented on the balance sheet26 77 (221)(5)
Additional cash collateral for commodity contracts
not subject to rate recovery
74 — — — 
Additional cash collateral for commodity contracts
subject to rate recovery
22 — — — 
Total(2)
$122 $77 $(221)$(5)
SDG&E:    
Derivatives not designated as hedging instruments:    
Commodity contracts subject to rate recovery$9 $8 $(18)$(9)
Associated offsetting commodity contracts(5)(2)5 2 
Associated offsetting cash collateral— — 12 7 
Net amounts presented on the balance sheet4 6 (1)— 
Additional cash collateral for commodity contracts
subject to rate recovery
21 — — — 
Total(2)
$25 $6 $(1)$— 
SoCalGas:    
Derivatives not designated as hedging instruments:    
Commodity contracts subject to rate recovery$1 $— $(210)$— 
Net amounts presented on the balance sheet1 — (210)— 
Additional cash collateral for commodity contracts
subject to rate recovery
1 — — — 
Total$2 $— $(210)$— 
(1)    Included in Other Current Assets for SDG&E and SoCalGas.
(2)    Normal purchase contracts previously measured at fair value are excluded.
Cash Flow Hedge Impact on the Condensed Consolidated Statements of Comprehensive Income Table
The following table includes the effects of derivative instruments designated as hedges on the Condensed Consolidated Statements of Operations and in OCI and AOCI.
HEDGE IMPACTS
(Dollars in millions)
Pretax (loss) gain
recognized in OCI		Pretax gain (loss) reclassified
from AOCI into earnings
Three months ended September 30, Three months ended September 30,
 20242023Location20242023
Sempra:     
Cash flow hedges:
Interest rate instruments$(203)$320 Interest expense$3 $(1)
Interest rate instruments(33)32 
Equity earnings(1)
5 12 
Foreign exchange instruments2 8 Other income, net1 1 
Foreign exchange instruments2 7 
Equity earnings(1)
1 1 
Fair value hedges:
Foreign exchange instruments(3)— 
Equity earnings(1)
— — 
Total$(235)$367  $10 $13 
 Nine months ended September 30, Nine months ended September 30,
 20242023Location20242023
Sempra:     
Cash flow hedges:
Interest rate instruments$5 $337 Interest expense$9 $(1)
Interest rate instruments(8)56 
Equity earnings(1)
20 33 
Foreign exchange instruments14 — 
Revenues: Energy-
related businesses
5 — 
Other income, net2 (1)
Foreign exchange instruments12 1 
Equity earnings(1)
5 (1)
Interest rate and foreign
exchange instruments
— 7 Interest expense— 1 
Other income, net— 6 
Fair value hedges:
Foreign exchange instruments(10)— 
Equity earnings(1)
— — 
Total$13 $401  $41 $37 
SoCalGas:
Cash flow hedges:
Interest rate instruments$— $— Interest expense$(1)$(1)
(1)    Equity earnings at Oncor Holdings and our foreign equity method investees are recognized after tax.
Fair Value Hedge Impact on the Condensed Consolidated Statements of Operations Table
The following table summarizes the effects of derivative instruments not designated as hedging instruments on the Condensed Consolidated Statements of Operations.
UNDESIGNATED DERIVATIVE IMPACTS
(Dollars in millions)
  Pretax gain (loss) on derivatives recognized in earnings
  Three months ended September 30,Nine months ended
September 30,
 Location2024202320242023
Sempra:     
Commodity contracts not subject
to rate recovery
Revenues: Energy-related
businesses
$98 $83 $218 $785 
Commodity contracts subject
to rate recovery
Cost of natural gas(16)(125)(43)(172)
Commodity contracts subject
to rate recovery
Cost of electric fuel and purchased power(10)23 (29)5 
Interest rate instrumentInterest expense— — — (47)
Total $72 $(19)$146 $571 
SDG&E:     
Commodity contracts subject
to rate recovery
Cost of electric fuel and purchased power$(10)$23 $(29)$5 
SoCalGas:     
Commodity contracts subject
to rate recovery
Cost of natural gas$(16)$(125)$(43)$(172)