DEBT AND CREDIT FACILITIES (Tables)

12 Months Ended

Dec. 31, 2025

Because our commercial paper programs are supported by some of these lines of credit, we reflect the amount of commercial paper outstanding, before reductions of any unamortized discounts, and any letters of credit outstanding as a reduction to the available unused credit capacity in the following table.


COMMITTED LINES OF CREDIT
(Dollars in millions)
		December 31, 2025
Borrower	Expiration date of facility	Total facility		Commercial paper outstanding		Amounts outstanding		Letters of credit outstanding		Available unused credit
Sempra	October 2030	$	4,000	$	(983)	$	—	$	—	$	3,017
SDG&E	October 2030	1,500		(532)		—		—		968
SoCalGas	October 2030	1,200		(504)		—		—		696
SI Partners and IEnova	September 2026	500		—		(91)		—		409
SI Partners and IEnova	August 2028	1,500		—		(266)		—		1,234
SI Partners and IEnova	December 2028(1)	1,000		—		—		—		1,000
Port Arthur LNG I	March 2030	200		—		—		(87)		113
Port Arthur LNG II	September 2030	300		—		—		(111)		189
Total		$	10,200	$	(2,019)	$	(357)	$	(198)	$	7,626

(1) In December 2025, SI Partners and IEnova amended their shared credit facility to extend the expiration date from August 2026 to December 2028.


UNCOMMITTED LETTERS OF CREDIT OUTSTANDING
(Dollars in millions)
	Expiration date range	December 31, 2025
SDG&E	January 2026 - November 2026	$	21
SoCalGas	March 2026 - December 2026	15
Other Sempra(1)	March 2026 - June 2026	166
Total Sempra		$	202

(1) Excludes $1,784 in unsecured standby letters of credit with expiration dates ranging from January 2026 - November 2054 that are included in the disposal group that is classified as held for sale.

The weighted-average interest rates on all short-term debt were as follows:


WEIGHTED-AVERAGE INTEREST RATES

	December 31,
	2025		2024
Sempra	4.32	%	5.03	%
SDG&E	3.96		4.76
SoCalGas	4.17		5.02

Schedule of Long-term Debt

The following tables show the detail and maturities of long-term debt outstanding.


LONG-TERM DEBT AND FINANCE LEASES
(Dollars in millions)
	December 31,
	2025		2024
SDG&E:
First mortgage bonds (collateralized by plant assets):
2.50% May 15, 2026	$	500	$	500
6.00% June 1, 2026	250		250
4.95% August 15, 2028	600		600
1.70% October 1, 2030	800		800
3.00% March 15, 2032	500		500
5.40% April 15, 2035	850		—
5.35% May 15, 2035	250		250
6.125% September 15, 2037	250		250
6.00% June 1, 2039	300		300
5.35% May 15, 2040	250		250
4.50% August 15, 2040	500		500
3.95% November 15, 2041	250		250
4.30% April 1, 2042	250		250
3.75% June 1, 2047	400		400
4.15% May 15, 2048	400		400
4.10% June 15, 2049	400		400
3.32% April 15, 2050	400		400
2.95% August 15, 2051	750		750
3.70% March 15, 2052	500		500
5.35% April 1, 2053	800		800
5.55% April 15, 2054	600		600
	9,800		8,950
Finance lease obligations:
Power purchase agreements	1,109		1,138
Other	67		67
	1,176		1,205
	10,976		10,155
Current portion of long-term debt and finance leases	(798)		(42)
Unamortized discount on long-term debt	(33)		(33)
Unamortized debt issuance costs	(64)		(62)
Total SDG&E	$	10,081	$	10,018


LONG-TERM DEBT AND FINANCE LEASES (CONTINUED)
(Dollars in millions)
	December 31,
	2025		2024
SoCalGas:
First mortgage bonds (collateralized by plant assets):
3.20% June 15, 2025	$	—	$	350
2.60% June 15, 2026	500		500
2.55% February 1, 2030	650		650
5.20% June 1, 2033	500		500
5.05% September 1, 2034	600		600
5.45% June 15, 2035	600		—
5.75% November 15, 2035	250		250
5.125% November 15, 2040	300		300
3.75% September 15, 2042	350		350
4.45% March 15, 2044	250		250
4.125% June 1, 2048	400		400
4.30% January 15, 2049	550		550
3.95% February 15, 2050	350		350
6.35% November 15, 2052	600		600
5.75% June 1, 2053	500		500
5.60% April 1, 2054	500		500
6.00% June 15, 2055	500		—
	7,400		6,650
Other long-term debt (uncollateralized):
1.875% Notes May 14, 2026(1)	4		4
2.95% Notes April 15, 2027	700		700
5.67% Notes January 18, 2028(2)	5		5
Finance lease obligations	117		110
	826		819
	8,226		7,469
Current portion of long-term debt and finance leases	(529)		(373)
Unamortized discount on long-term debt	(25)		(18)
Unamortized debt issuance costs	(53)		(47)
Total SoCalGas	$	7,619	$	7,031

(1) Callable long-term debt not subject to make-whole provisions.

(2) Debt is not callable.


LONG-TERM DEBT AND FINANCE LEASES (CONTINUED)
(Dollars in millions)
	December 31,
	2025		2024
Other Sempra:
Sempra - Other long-term debt (uncollateralized):
3.30% Notes April 1, 2025	$	—	$	750
5.40% Notes August 1, 2026	550		550
3.25% Notes June 15, 2027	750		750
3.40% Notes February 1, 2028	1,000		1,000
3.70% Notes April 1, 2029	500		500
5.50% Notes August 1, 2033	700		700
3.80% Notes February 1, 2038	1,000		1,000
6.00% Notes October 15, 2039	750		750
4.00% Notes February 1, 2048	800		800
4.125% (next rate reset on April 1, 2027) Junior Subordinated Notes April 1, 2052(1)	1,000		1,000
6.40% (next rate reset on October 1, 2034) Junior Subordinated Notes October 1, 2054(1)	1,250		1,250
6.875% (next rate reset on October 1, 2029) Junior Subordinated Notes October 1, 2054(1)	600		600
6.875% (next rate reset on October 1, 2029) Junior Subordinated Notes October 1, 2054(1)	500		500
6.55% (next rate reset on April 1, 2035) Junior Subordinated Notes April 1, 2055(1)	600		600
6.625% (next rate reset on April 1, 2030) Junior Subordinated Notes April 1, 2055(1)	400		400
6.375% (next rate reset on April 1, 2031) Junior Subordinate Notes April 1, 2056(1)	800		—
5.75% Junior Subordinated Notes July 1, 2079(1)	758		758
	11,958		11,908
Sempra Infrastructure - Other long-term debt (uncollateralized unless otherwise noted)(2):
Loan at variable rates (weighted-average rate of 7.29% at December 31, 2024) December 9, 2025	—		1,063
3.75% Notes January 14, 2028	—		300
Loan at variable rates (5.329% after floating-to-fixed rate swaps effective 2023) March 20, 2030, collateralized by plant assets(1)	—		1,090
3.25% Notes January 15, 2032	—		400
Loan at variable rates (4.03% after floating-to-fixed rate swap effective 2019) payable June 15, 2022 through November 19, 2034(1)	—		90
Loan at variable rates (4.03% after floating-to-fixed rate swap effective 2019) payable June 15, 2022 through November 19, 2034(1)	—		90
Loan at variable rates (2.38% after floating-to-fixed rate swap effective 2020) payable June 15, 2022 through November 19, 2034(1)	—		90
2.90% Loan payable June 15, 2022 through November 19, 2034(1)	—		219
4.875% Notes January 14, 2048	—		540
4.75% Notes January 15, 2051	—		800
	—		4,682
	11,958		16,590
Current portion of long-term debt	(549)		(1,859)
Unamortized discount on long-term debt	(26)		(78)
Unamortized debt issuance costs	(104)		(144)
Total Other Sempra	11,279		14,509
Total Sempra	$	28,979	$	31,558

(1) Callable long-term debt not subject to make-whole provisions.

(2) At December 31, 2025, $7,744 of long-term debt, net of $49 of current portion of long-term debt, $89 of unamortized discount on long-term debt, and $43 of unamortized debt issuance costs is included in Liabilities Held for Sale on the Sempra Consolidated Balance Sheet.

The following table shows the detail and maturities of uncollateralized long-term debt outstanding.


LONG-TERM DEBT
(Dollars in millions)
	December 31,
	2025		2024
3.30% Notes April 1, 2025	$	—	$	750
5.40% Notes August 1, 2026	550		550
3.25% Notes June 15, 2027	750		750
3.40% Notes February 1, 2028	1,000		1,000
3.70% Notes April 1, 2029	500		500
5.50% Notes August 1, 2033	700		700
3.80% Notes February 1, 2038	1,000		1,000
6.00% Notes October 15, 2039	750		750
4.00% Notes February 1, 2048	800		800
4.125% (next rate reset on April 1, 2027) Junior Subordinated Notes April 1, 2052(1)	1,000		1,000
6.40% (next rate reset on October 1, 2034) Junior Subordinated Notes October 1, 2054(1)	1,250		1,250
6.875% (next rate reset on October 1, 2029) Junior Subordinated Notes October 1, 2054(1)	600		600
6.875% (next rate reset on October 1, 2029) Junior Subordinated Notes October 1, 2054(1)	500		500
6.55% (next rate reset on April 1, 2035) Junior Subordinated Notes April 1, 2055(1)	600		600
6.625% (next rate reset on April 1, 2030) Junior Subordinated Notes April 1, 2055(1)	400		400
6.375% (next rate reset on April 1, 2031) Junior Subordinated Notes April 1, 2056(1)	800		—
5.75% Junior Subordinated Notes July 1, 2079(1)	758		758
	11,958		11,908
Current portion of long-term debt	(549)		(750)
Unamortized discount on long-term debt	(26)		(30)
Unamortized debt issuance costs	(104)		(100)
Total long-term debt	$	11,279	$	11,028

(1) Callable long-term debt not subject to make-whole provisions.

Schedule of Maturities of Long-term Debt

At December 31, 2025, scheduled maturities of long-term debt are as follows:


MATURITIES OF LONG-TERM DEBT(1)
(Dollars in millions)
	SDG&E		SoCalGas		Other Sempra(2)		Total Sempra(2)
2026	$	750	$	504	$	550	$	1,804
2027	—		700		750		1,450
2028	600		5		1,000		1,605
2029	—		—		500		500
2030	800		650		—		1,450
Thereafter	7,650		6,250		9,158		23,058
Total	$	9,800	$	8,109	$	11,958	$	29,867

(1) Excludes finance lease obligations, discounts, and debt issuance costs.

(2) Excludes $49 in 2026, $1,325 in 2027, $376 in 2028, $177 in 2029, $3,149 in 2030, and $2,849 thereafter within the disposal group that is classified as held for sale.

Schedule of Callable Long Term Debt

At the option of Sempra, SDG&E and SoCalGas, certain debt at December 31, 2025 is callable subject to premiums:


CALLABLE LONG-TERM DEBT
(Dollars in millions)
	SDG&E		SoCalGas		Other Sempra(1)		Total Sempra(1)
Not subject to make-whole provisions	$	—	$	4	$	5,908	$	5,912
Subject to make-whole provisions	9,800		8,100		6,050		23,950

(1) Excludes $3,610 not subject to make-whole provisions and $4,315 subject to make-whole provisions within the disposal group that is classified as held for sale.