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SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
SEMPRA
Sempra is a California-based holding company whose businesses invest in, develop and operate energy infrastructure in North America and provide electric and gas services to customers. Sempra has the following three operating and reportable segments, which are managed separately based on services provided, geographic location and regulatory framework:
▪Sempra California provides natural gas and electric service to Southern California and part of central California through Sempra’s wholly owned subsidiaries, SDG&E and SoCalGas, which are regulated public utilities.
▪Sempra Texas Utilities holds our equity method investment in Oncor Holdings, which owns an 80.25% interest in Oncor, a regulated electric transmission and distribution utility serving customers in the north-central, eastern, western and panhandle regions of Texas; and our equity method investment in Sharyland Holdings, L.P., which owns Sharyland Utilities, a regulated electric transmission utility serving customers near the Texas-Mexico border.
▪Sempra Infrastructure includes the operating companies of SI Partners, in which Sempra Infrastructure owns a 70% interest, as well as a holding company and certain services companies. Sempra Infrastructure develops, builds, operates and invests in energy infrastructure to help provide safe, sustainable and reliable access to cleaner energy in markets in the U.S., Mexico and globally.
Sempra’s CODM is its chief executive officer, who uses segment earnings attributable to common shares predominantly in the annual financial planning process to assess financial performance. Sempra’s CODM prioritizes resource allocation to each segment in a manner that aligns with Sempra’s capital expenditures plan.
Amounts labeled as “Parent and other,” which does not meet the definition of an operating or reportable segment, consist primarily of activities of parent organizations.
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)
September 30,
2025		December 31,
2024
ASSETS
Sempra California$59,479 $56,116 
Sempra Texas Utilities17,173 15,534 
Sempra Infrastructure30,140 22,954 
Segment totals106,792 94,604 
Parent and other
1,162 2,622 
Intersegment eliminations(1)
(1,035)(1,071)
Total Sempra$106,919 $96,155 
EQUITY METHOD INVESTMENTS
Sempra Texas Utilities$17,164 $15,522 
Sempra Infrastructure(2)
17 2,411 
Segment totals/Total Sempra$17,181 $17,933 
Three months ended September 30,Nine months ended September 30,
2025202420252024
EQUITY EARNINGS
Equity earnings, before income tax:
Sempra Texas Utilities$1 $2 $4 $6 
Sempra Infrastructure132 130 439 420 
Segment totals133 132 443 426 
Equity earnings, net of income tax:
Sempra Texas Utilities306 261 661 646 
Sempra Infrastructure33 61 86 163 
Segment totals339 322 747 809 
Total Sempra$472 $454 $1,190 $1,235 
CAPITAL EXPENDITURES FOR PROPERTY, PLANT AND EQUIPMENT
Sempra California$3,334 $3,329 
Sempra Infrastructure3,863 2,433 
Segment totals7,197 5,762 
Parent and other4 3 
Total Sempra$7,201 $5,765 
(1)     Primarily includes an intersegment loan related to deferred income taxes from Sempra Infrastructure to Parent and other.
(2)     At September 30, 2025, $2,471 is classified as Assets Held for Sale on the Sempra Condensed Consolidated Balance Sheet. The remaining $17 represents our investment balance in Cameron LNG JV related to our guarantee under the SDSRA, which we discuss in Note 13.
SEGMENT INFORMATION (CONTINUED)
(Dollars in millions)
Sempra California
Sempra Texas Utilities(1)
Sempra InfrastructureSempra
Three months ended September 30, 2025
Revenues
$2,613 $555 
Depreciation and amortization(591)(69)
Interest income
2 10 
Interest expense(2)
(234)(16)
Income tax benefit (expense)128 (792)
Equity earnings$307 165 
Earnings attributable to noncontrolling interests(55)
Other segment items(3)
(1,548)(1)(378)
Segment earnings attributable to common shares$370 $306 $(580)$96 
Parent and other(19)
Earnings attributable to common shares$77 
Three months ended September 30, 2024
Revenues
$2,256 $538 
Depreciation and amortization(536)(76)
Interest income
4 7 
Interest expense
(213)— 
Income tax benefit37 43 
Equity earnings$263 191 
Earnings attributable to noncontrolling interests(110)
Other segment items(3)
(1,301)(2)(363)
Segment earnings attributable to common shares$247 $261 $230 $738 
Parent and other(100)
Earnings attributable to common shares$638 
(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, interest expense, and income tax expense 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.
SEGMENT INFORMATION (CONTINUED)
(Dollars in millions)
Sempra California
Sempra Texas Utilities(1)
Sempra InfrastructureSempra
Nine months ended September 30, 2025
Revenues
$8,504 $1,511 
Depreciation and amortization(1,727)(223)
Interest income
7 34 
Interest expense(2)
(687)(87)
Income tax benefit (expense)63 (1,045)
Equity earnings$665 525 
Earnings attributable to noncontrolling interests(103)
Other segment items(3)
(4,807)(5)(974)
Segment earnings attributable to common shares$1,353 $660 $(362)$1,651 
Parent and other(207)
Earnings attributable to common shares$1,444 
Nine months ended September 30, 2024
Revenues
$8,022 $1,466 
Depreciation and amortization(1,585)(221)
Interest income
12 19 
Interest expense
(627)— 
Income tax (expense) benefit(90)67 
Equity earnings$652 583 
Earnings attributable to noncontrolling interests(325)
Other segment items(3)
(4,587)(6)(937)
Segment earnings attributable to common shares$1,145 $646 $652 $2,443 
Parent and other(291)
Earnings attributable to common shares$2,152 
(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, other income (expense), net, and preferred dividends for Sempra California; O&M, interest expense, and income tax expense 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 CaliforniaSempra InfrastructureSempraSempra CaliforniaSempra Infrastructure Sempra
Three months ended September 30, 2025Three months ended September 30, 2024
Revenues from external customers:
Utilities$2,513 $15 $2,388 $15 
Energy-related businesses— 228 — 167 
Total revenues from external customers(1)
2,513 243 $2,756 2,388 182 $2,570 
Other revenues(2):
Utilities95 — (138)— 
Energy-related businesses— 300 — 345 
Total other revenues95 300 395 (138)345 207 
Intersegment revenues(3):
Utilities5 — 6 — 
Energy-related businesses— 12 — 11 
Total intersegment revenues5 12 17 6 11 17 
Segment revenues$2,613 $555 3,168 $2,256 $538 2,794 
Adjustments— (1)
Intersegment eliminations(17)(17)
Revenues$3,151 $2,776 
Nine months ended September 30, 2025Nine months ended September 30, 2024
Revenues from external customers:
Utilities$8,412 $59 $8,113 $63 
Energy-related businesses— 666 — 575 
Total revenues from external customers(1)
8,412 725 $9,137 8,113 638 $8,751 
Other revenues(2):
Utilities74 — (107)— 
Energy-related businesses— 742 — 784 
Total other revenues74 742 816 (107)784 677 
Intersegment revenues(3):
Utilities18 — 16 — 
Energy-related businesses— 44 — 44 
Total intersegment revenues18 44 62 16 44 60 
Segment revenues$8,504 $1,511 10,015 $8,022 $1,466 9,488 
Adjustments— (1)
Intersegment eliminations(62)(60)
Revenues$9,953 $9,427 
(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.
SDG&E
SDG&E is a regulated public utility that provides electric service to San Diego and southern Orange counties and natural gas service to San Diego County. SDG&E has one operating and reportable segment.
In connection with certain organizational changes, effective July 5, 2025, SDG&E’s president assumed the responsibilities of the CODM. The CODM utilizes earnings attributable to common shares to manage the business, assess performance and allocate resources. SDG&E’s CODM was previously its chief executive officer.
Total assets at SDG&E were $32.8 billion and $30.8 billion at September 30, 2025 and December 31, 2024, respectively. 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 September 30,Nine months ended September 30,
2025202420252024
SDG&E:
Revenues from external customers:
Electric$1,131 $1,160 $3,062 $3,178 
Natural gas218 167 789 658 
Total revenues from external customers(1)
1,349 1,327 3,851 3,836 
Regulatory revenues(2):
Electric132 (87)300 104 
Natural gas(1)3 11 37 
Total regulatory revenues131 (84)311 141 
Total revenues1,480 1,243 4,162 3,977 
Depreciation and amortization(334)(308)(977)(910)
Interest income— 1 2 5 
Interest expense(141)(131)(415)(390)
Income tax benefit (expense)33 (15)12 (89)
Other segment items(3)
(714)(529)(2,004)(1,923)
Earnings attributable to common shares$324 $261 $780 $670 
Capital expenditures for property, plant and equipment$1,811 $1,838 
(1)    SDG&E did not have revenues from transactions with a single external customer that amounted to 10% or more of its 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)    Includes cost of electric fuel and purchased power, cost of natural gas, O&M, franchise fees and other taxes, and other income (expense), net.
SOCALGAS
SoCalGas is a regulated public natural gas distribution utility, serving customers throughout most of Southern California and part of central California. SoCalGas has one operating and reportable segment.
SoCalGas’ CODM is its chief executive officer, who utilizes earnings attributable to common shares to manage the business, assess performance and allocate resources.
Total assets at SoCalGas were $26.7 billion and $25.4 billion at September 30, 2025 and December 31, 2024, respectively. 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 September 30,Nine months ended September 30,
2025202420252024
SoCalGas:
Natural gas:
Revenues from external customers(1)
$1,217 $1,110 $4,706 $4,416 
Regulatory revenues(2)
(36)(56)(237)(248)
Total revenues1,181 1,054 4,469 4,168 
Depreciation and amortization(257)(228)(750)(675)
Interest income2 3 5 7 
Interest expense(93)(82)(272)(237)
Income tax benefit (expense)95 52 51 (1)
Other segment items(3)
(882)(813)(2,930)(2,787)
Earnings (losses) attributable to common shares$46 $(14)$573 $475 
Capital expenditures for property, plant and equipment$1,523 $1,491 
(1)    SoCalGas did not have revenues from transactions with a single external customer that amounted to 10% or more of its 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)    Includes cost of natural gas, O&M, franchise fees and other taxes, other income (expense), net, and preferred dividends.