REVENUES (Tables)

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

The following tables disaggregate our revenues from contracts with customers by major service line and market. We also provide a reconciliation to total revenues by segment for Sempra. The majority of our revenue is recognized over time.


DISAGGREGATED REVENUES
(Dollars in millions)
	Sempra
	Sempra California		Sempra Infrastructure		Consolidating adjustments and Parent and other		Sempra
	Three months ended March 31, 2025
By major service line:
Utilities	$	3,463	$	26	$	(6)	$	3,483
Energy-related businesses	—		218		(20)		198
Revenues from contracts with customers	$	3,463	$	244	$	(26)	$	3,681
By market:
Gas	$	2,392	$	142	$	(5)	$	2,529
Electric	1,071		102		(21)		1,152
Revenues from contracts with customers	$	3,463	$	244	$	(26)	$	3,681

Revenues from contracts with customers	$	3,463	$	244	$	(26)	$	3,681
Utilities regulatory revenues	(62)		—		—		(62)
Other revenues	—		182		1		183
Total revenues	$	3,401	$	426	$	(25)	$	3,802

	Three months ended March 31, 2024
By major service line:
Utilities	$	3,479	$	30	$	(6)	$	3,503
Energy-related businesses	—		212		(18)		194
Revenues from contracts with customers	$	3,479	$	242	$	(24)	$	3,697
By market:
Gas	$	2,350	$	125	$	(5)	$	2,470
Electric	1,129		117		(19)		1,227
Revenues from contracts with customers	$	3,479	$	242	$	(24)	$	3,697

Revenues from contracts with customers	$	3,479	$	242	$	(24)	$	3,697
Utilities regulatory revenues	(338)		—		—		(338)
Other revenues	—		277		4		281
Total revenues	$	3,141	$	519	$	(20)	$	3,640


DISAGGREGATED REVENUES
(Dollars in millions)
	SDG&E				SoCalGas
	Three months ended March 31,
	2025		2024		2025		2024
By major service line:
Revenues from contracts with customers – Utilities	$	1,434	$	1,462	$	2,068	$	2,060
By market:
Gas	$	359	$	330	$	2,068	$	2,060
Electric	1,075		1,132		—		—
Revenues from contracts with customers	$	1,434	$	1,462	$	2,068	$	2,060

Revenues from contracts with customers	$	1,434	$	1,462	$	2,068	$	2,060
Utilities regulatory revenues	(14)		(83)		(48)		(255)
Total revenues	$	1,420	$	1,379	$	2,020	$	1,805

Schedule of Timing of Remaining Performance Obligations

For contracts greater than one year, at March 31, 2025, we expect to recognize revenue related to the fixed fee component of the consideration as shown below. Sempra’s remaining performance obligations primarily relate to capacity agreements for natural gas storage and transportation at Sempra Infrastructure and transmission line projects at SDG&E. SoCalGas did not have any remaining performance obligations for contracts greater than one year at March 31, 2025.


REMAINING PERFORMANCE OBLIGATIONS
(Dollars in millions)
	Sempra(1)		SDG&E
2025 (excluding first three months of 2025)	$	306	$	3
2026	289		4
2027	289		4
2028	242		4
2029	215		4
Thereafter	2,133		52
Total revenues to be recognized	$	3,474	$	71

(1) Excludes intercompany transactions.

Schedule of Contract Liabilities

Activities within Sempra’s and SDG&E’s contract liabilities are presented below. There were no contract liabilities at SoCalGas in the three months ended March 31, 2025 or 2024.


CONTRACT LIABILITIES
(Dollars in millions)
	2025		2024
Sempra:
Contract liabilities at January 1	$	(196)	$	(198)
Revenue from performance obligations satisfied during reporting period	28		2
Payments received in advance	(1)		(3)
Contract liabilities at March 31(1)	$	(169)	$	(199)
SDG&E:
Contract liabilities at January 1	$	(72)	$	(75)
Revenue from performance obligations satisfied during reporting period	1		1
Contract liabilities at March 31(2)	$	(71)	$	(74)

(1) Balances at March 31, 2025 include $79 in Other Current Liabilities and $90 in Deferred Credits and Other.

(2) Balances at March 31, 2025 include $4 in Other Current Liabilities and $67 in Deferred Credits and Other.

Schedule of Contract Accounts Receivable

The table below shows receivable balances, net of allowances for credit losses, associated with revenues from contracts with customers on the Condensed Consolidated Balance Sheets.


RECEIVABLES FROM REVENUES FROM CONTRACTS WITH CUSTOMERS
(Dollars in millions)
	March 31, 2025		December 31, 2024
Sempra:
Accounts receivable – trade, net(1)	$	1,931	$	1,787
Accounts receivable – other, net	13		12
Due from unconsolidated affiliates – current(2)	3		4
Other long-term assets(3)	18		18
Total	$	1,965	$	1,821
SDG&E:
Accounts receivable – trade, net(1)	$	830	$	774
Accounts receivable – other, net	9		11
Due from unconsolidated affiliates – current(2)	9		6
Other long-term assets(3)	4		4
Total	$	852	$	795
SoCalGas:
Accounts receivable – trade, net	$	1,018	$	932
Accounts receivable – other, net	4		1
Other long-term assets(3)	14		14
Total	$	1,036	$	947

(1) At March 31, 2025 and December 31, 2024, includes $150 and $144, respectively, of receivables due from customers that were billed on behalf of Community Choice Aggregators, which are not included in revenues.

(2) Amount is presented net of amounts due to unconsolidated affiliates on the Condensed Consolidated Balance Sheets, when right of offset exists.

(3) In January 2024, the CPUC directed SDG&E and SoCalGas to offer long-term repayment plans to eligible residential customers with past-due balances.