SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2025

The following tables present selected information by segment and reconciliations of assets, capital expenditures for PP&E, and earnings attributable to common shares to Sempra’s consolidated totals.


SEGMENT INFORMATION
(Dollars in millions)
	March 31, 2025		December 31, 2024
ASSETS
Sempra California	$	57,830	$	56,116
Sempra Texas Utilities	16,008		15,534
Sempra Infrastructure	24,124		22,954
Segment totals	97,962		94,604
Parent and other	2,099		2,622
Intersegment eliminations(1)	(1,051)		(1,071)
Total Sempra	$	99,010	$	96,155
EQUITY METHOD INVESTMENTS
Sempra Texas Utilities	$	15,995	$	15,522
Sempra Infrastructure	2,376		2,411
Segment totals/Total Sempra	$	18,371	$	17,933

	Three months ended March 31,
	2025		2024
CAPITAL EXPENDITURES FOR PROPERTY, PLANT AND EQUIPMENT
Sempra California	$	1,094	$	1,143
Sempra Infrastructure	1,241		790
Segment totals	2,335		1,933
Parent and other	1		—
Total Sempra	$	2,336	$	1,933
EQUITY EARNINGS
Equity earnings, before income tax:
Sempra Texas Utilities	$	2	$	2
Sempra Infrastructure	139		132
Segment totals	141		134
Equity earnings, net of income tax:
Sempra Texas Utilities	146		183
Sempra Infrastructure	38		31
Segment totals	184		214
Total Sempra	$	325	$	348

(1) Primarily includes an intersegment loan from Sempra Infrastructure to Parent and other related to deferred income taxes.


SEGMENT INFORMATION (CONTINUED)
(Dollars in millions)
	Sempra California		Sempra Texas Utilities(1)		Sempra Infrastructure		Sempra
	Three months ended March 31, 2025
Revenues	$	3,401			$	426
Depreciation and amortization	(562)				(76)
Interest income	2				19
Interest expense(2)	(225)				(77)
Income tax expense	(52)				(22)
Equity earnings	—		$	148	177
Earnings attributable to noncontrolling interests	—		—		(2)
Other segment items(3)	(1,840)		(2)		(299)
Segment earnings attributable to common shares	$	724	$	146	$	146	$	1,016
Parent and other							(110)
Earnings attributable to common shares							$	906

	Three months ended March 31, 2024
Revenues	$	3,141			$	519
Depreciation and amortization	(521)				(72)
Interest income	3				5
Interest expense	(205)				—
Income tax expense	(83)				(109)
Equity earnings	—		$	185	163
Earnings attributable to noncontrolling interests	—		—		(69)
Other segment items(3)	(1,753)		(2)		(306)
Segment earnings attributable to common shares	$	582	$	183	$	131	$	896
Parent and other							(95)
Earnings attributable to common shares							$	801

(1) Substantially all earnings attributable to common shares are from equity earnings.

(2) Sempra Infrastructure includes net unrealized gains (losses) from undesignated interest rate swaps related to the PA LNG Phase 1 project.

(3) Includes cost of natural gas, cost of electric fuel and purchased power, O&M, franchise fees and other taxes, and other income (expense), net, for Sempra California; O&M for Sempra Texas Utilities related to activities at the holding company; and cost of natural gas, energy-related businesses cost of sales, O&M, franchise fees and other taxes, and other income (expense), net, for Sempra Infrastructure.

The following table presents revenues by services by segment, reconciled to Sempra’s consolidated revenues.


REVENUES BY SERVICES
(Dollars in millions)
	Sempra California		Sempra Infrastructure		Sempra
	Three months ended March 31, 2025
Revenues from external customers:
Utilities	$	3,457	$	26
Energy-related businesses	—		198
Total revenues from external customers(1)	3,457		224		$	3,681
Other revenues(2):
Utilities	(62)		—
Energy-related businesses	—		183
Total other revenues	(62)		183		121
Intersegment revenues(3):
Utilities	6		—
Energy-related businesses	—		19
Total intersegment revenues	6		19		25
Segment revenues	$	3,401	$	426	3,827
Intersegment eliminations					(25)
Revenues					$	3,802

	Three months ended March 31, 2024
Revenues from external customers:
Utilities	$	3,474	$	30
Energy-related businesses	—		194
Total revenues from external customers(1)	3,474		224		$	3,698
Other revenues(2):
Utilities	(338)		—
Energy-related businesses	—		281
Total other revenues	(338)		281		(57)
Intersegment revenues(3):
Utilities	5		—
Energy-related businesses	—		14
Total intersegment revenues	5		14		19
Segment revenues	$	3,141	$	519	3,660
Adjustments					(1)
Intersegment eliminations					(19)
Revenues					$	3,640

(1) We did not have revenues from transactions with a single external customer that amounted to 10% or more of Sempra’s total revenues.

(2) See “Revenues from Sources Other Than Contracts with Customers” in Note 3 of the Notes to Consolidated Financial Statements in the Annual Report for a description of this revenue source, which may be additive or subtractive from period to period.

(3) See “Transactions with Affiliates” in Note 1 of the Notes to Consolidated Financial Statements in the Annual Report for a description of services provided by one operating segment to another operating segment within Sempra.

The following table presents selected information for SDG&E’s single segment and reconciliation of earnings attributable to common shares.


SEGMENT INFORMATION
(Dollars in millions)
	Three months ended March 31,
		2025		2024
SDG&E:
Revenues from external customers:
Electric		$	1,075	$	1,132
Natural gas		359		330
Total revenues from external customers(1)		1,434		1,462
Regulatory revenues(2):
Electric		(11)		(72)
Natural gas		(3)		(11)
Total regulatory revenues		(14)		(83)
Total revenues		1,420		1,379
Depreciation and amortization		(320)		(298)
Interest income		—		1
Interest expense		(135)		(128)
Income tax expense		(14)		(40)
Other segment items(3)		(670)		(691)
Earnings attributable to common shares		$	281	$	223

Capital expenditures for property, plant and equipment		$	539	$	624

(1) SDG&E did not have revenues from transactions with a single external customer that amounted to 10% or more of its total revenues.

(3) Includes cost of electric fuel and purchased power, cost of natural gas, O&M, franchise fees and other taxes, and other income (expense), net.

The following table presents selected information for SoCalGas’ single segment and reconciliation of earnings attributable to common shares.


SEGMENT INFORMATION
(Dollars in millions)
	Three months ended March 31,
		2025		2024
SoCalGas:
Natural gas:
Revenues from external customers(1)		$	2,068	$	2,060
Regulatory revenues(2)		(48)		(255)
Total revenues		2,020		1,805
Depreciation and amortization		(242)		(223)
Interest income		2		2
Interest expense		(90)		(77)
Income tax expense		(38)		(43)
Other segment items(3)		(1,209)		(1,105)
Earnings attributable to common shares		$	443	$	359

Capital expenditures for property, plant and equipment		$	555	$	519

(1) SoCalGas did not have revenues from transactions with a single external customer that amounted to 10% or more of its total revenues.

(3) Includes cost of natural gas, O&M, franchise fees and other taxes, and other income (expense), net.