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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 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)
 December 31,
CommodityUnit of measure20242023
Sempra:
Natural gasMMBtu637 361 
ElectricityMWh— 1 
Congestion revenue rightsMWh27 36 
SDG&E:
Natural gasMMBtu16 17 
Congestion revenue rightsMWh27 36 
SoCalGas:
Natural gasMMBtu347 268 
Notional Amounts Of Interest Rate 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)
December 31, 2024December 31, 2023
 Notional amountMaturitiesNotional amountMaturities
Sempra:    
Cash flow hedges(1)
$271 2025-2034$4,451 2024-2048
Undesignated derivatives3,189 2025-2048— — 
(1)    At December 31, 2024 and 2023, cash flow hedges accrued interest based on a notional amount of $271 and $488, respectively.
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)
 December 31, 2024December 31, 2023
Notional amountMaturitiesNotional amountMaturities
Sempra:    
Foreign currency derivatives$162 2025-2026$176 2024-2025
Derivative Instruments on the Consolidated Balance Sheet Table The following tables provide the fair values of derivative instruments on the 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 10.
DERIVATIVE INSTRUMENTS ON THE CONSOLIDATED BALANCE SHEETS
(Dollars in millions)
 December 31, 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$7 $28 $— $— 
Foreign exchange instruments4 1 — — 
Derivatives not designated as hedging instruments:    
Interest rate instruments12 246 — — 
Commodity contracts not subject to rate recovery16 23 (21)(43)
Associated offsetting commodity contracts(15)(23)15 23 
Commodity contracts subject to rate recovery7 4 (55)(10)
Associated offsetting commodity contracts(5)(2)5 2 
Associated offsetting cash collateral— — 10 4 
Net amounts presented on the balance sheet26 277 (46)(24)
Additional cash collateral for commodity contracts
not subject to rate recovery
40 — — — 
Additional cash collateral for commodity contracts
subject to rate recovery
25 — — — 
Total(2)
$91 $277 $(46)$(24)
SDG&E:    
Derivatives not designated as hedging instruments:    
Commodity contracts subject to rate recovery$4 $4 $(13)$(6)
Associated offsetting commodity contracts(2)(2)2 2 
Associated offsetting cash collateral— — 10 4 
Net amounts presented on the balance sheet2 2 (1)— 
Additional cash collateral for commodity contracts
subject to rate recovery
21 — — — 
Total(2)
$23 $2 $(1)$— 
SoCalGas:    
Derivatives not designated as hedging instruments:    
Commodity contracts subject to rate recovery$3 $— $(42)$(4)
Associated offsetting commodity contracts(3)— 3 — 
Net amounts presented on the balance sheet— — (39)(4)
Additional cash collateral for commodity contracts
subject to rate recovery
4 — — — 
Total$4 $— $(39)$(4)
(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 CONSOLIDATED BALANCE SHEETS (CONTINUED)
(Dollars in millions)
 December 31, 2023
 
Current assets: Fixed-price contracts and other derivatives(1)
Other long-term assetsOther current
liabilities		Deferred 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 Consolidated Statements Of Operations Table
The following table includes the effects of derivative instruments designated as hedges on the Consolidated Statements of Operations and in OCI and AOCI.
HEDGE IMPACTS
(Dollars in millions)
 Pretax gain (loss)
 recognized in OCI		 Pretax gain (loss) reclassified
from AOCI into earnings
 Years ended December 31, Years ended December 31,
 202420232022Location202420232022
Sempra:      
Cash flow hedges:
Interest rate instruments$36 $45 $40 Interest expense$11 $(1)$(1)
Interest rate instruments21 20 205 
Equity earnings(1)
23 48 (29)
Foreign exchange instruments14 (2)(8)
Revenues: Energy-
related businesses
5 (1)1 
Other income, net2 (2)(1)
Foreign exchange instruments12 (3)(5)
Equity earnings(1)
6 (2)— 
Interest rate and foreign
exchange instruments
— 7 25 Interest expense— 1 2 
Other income, net— 6 12 
Fair value hedges:
Foreign exchange instruments2 — — 
Equity earnings(1)
— — — 
Total$85 $67 $257  $47 $49 $(16)
SoCalGas:      
Cash flow hedges:
Interest rate instruments$— $— $— Interest expense$(1)$(1)$(1)
(1)    Equity earnings at Oncor Holdings and our foreign equity method investees are recognized after tax.
Undesignated Derivative Impact on the Consolidated Statements of Operations
The following table summarizes the effects of derivative instruments not designated as hedging instruments on the Consolidated Statements of Operations.
UNDESIGNATED DERIVATIVE IMPACTS
(Dollars in millions)
  Pretax gain (loss) on derivatives recognized in earnings
  Years ended December 31,
Location202420232022
Sempra:    
Commodity contracts not subject
to rate recovery
Revenues: Energy-related
businesses
$223 $919 $(1,116)
Commodity contracts subject
to rate recovery
Cost of natural gas(56)(288)(56)
Commodity contracts subject
to rate recovery
Cost of electric fuel
and purchased power
(41)15 202 
Interest rate instrumentsInterest expense243 (47)33 
Total $369 $599 $(937)
SDG&E:    
Commodity contracts subject
to rate recovery
Cost of electric fuel
and purchased power
$(41)$15 $202 
SoCalGas:    
Commodity contracts subject
to rate recovery
Cost of natural gas$(56)$(288)$(56)