SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 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)
					September 30, 2025		December 31, 2024
ASSETS
Sempra California					$	59,479	$	56,116
Sempra Texas Utilities					17,173		15,534
Sempra Infrastructure					30,140		22,954
Segment totals					106,792		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,
	2025		2024		2025		2024
EQUITY EARNINGS
Equity earnings, before income tax:
Sempra Texas Utilities	$	1	$	2	$	4	$	6
Sempra Infrastructure	132		130		439		420
Segment totals	133		132		443		426
Equity earnings, net of income tax:
Sempra Texas Utilities	306		261		661		646
Sempra Infrastructure	33		61		86		163
Segment totals	339		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 Infrastructure					3,863		2,433
Segment totals					7,197		5,762
Parent and other					4		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 Infrastructure		Sempra
	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 benefit	37				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 Infrastructure		Sempra
	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 California		Sempra Infrastructure		Sempra		Sempra California		Sempra Infrastructure		Sempra
	Three months ended September 30, 2025						Three 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):
Utilities	95		—				(138)		—
Energy-related businesses	—		300				—		345
Total other revenues	95		300		395		(138)		345		207
Intersegment revenues(3):
Utilities	5		—				6		—
Energy-related businesses	—		12				—		11
Total intersegment revenues	5		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, 2025						Nine 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):
Utilities	74		—				(107)		—
Energy-related businesses	—		742				—		784
Total other revenues	74		742		816		(107)		784		677
Intersegment revenues(3):
Utilities	18		—				16		—
Energy-related businesses	—		44				—		44
Total intersegment revenues	18		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.

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,
	2025		2024		2025		2024
SDG&E:
Revenues from external customers:
Electric	$	1,131	$	1,160	$	3,062	$	3,178
Natural gas	218		167		789		658
Total revenues from external customers(1)	1,349		1,327		3,851		3,836
Regulatory revenues(2):
Electric	132		(87)		300		104
Natural gas	(1)		3		11		37
Total regulatory revenues	131		(84)		311		141
Total revenues	1,480		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.

(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 September 30,				Nine months ended September 30,
	2025		2024		2025		2024
SoCalGas:
Natural gas:
Revenues from external customers(1)	$	1,217	$	1,110	$	4,706	$	4,416
Regulatory revenues(2)	(36)		(56)		(237)		(248)
Total revenues	1,181		1,054		4,469		4,168
Depreciation and amortization	(257)		(228)		(750)		(675)
Interest income	2		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.

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