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SIGNIFICANT ACCOUNTING POLICIES AND OTHER FINANCIAL DATA (Tables)
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Cash, Cash Equivalents and Restricted Cash
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported on Sempra’s Consolidated Balance Sheets to the sum of such amounts reported on Sempra’s Consolidated Statements of Cash Flows.
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH
(Dollars in millions)
December 31,
 20252024
Sempra:
Cash and cash equivalents$29 $1,565 
Restricted cash, current2 21 
Restricted cash, noncurrent— 3 
Assets held for sale3,521 — 
Total cash, cash equivalents and restricted cash on the Consolidated Statements of Cash Flows$3,552 $1,589 
Schedule of Accounts Receivable, Allowance for Credit Loss
CHANGES IN ALLOWANCES FOR CREDIT LOSSES
(Dollars in millions)
 202520242023
Sempra:   
Allowances for credit losses at January 1$519 $539 $188 
Provisions for expected credit losses(1)
61 202 467 
Write-offs(1)
(193)(222)(116)
Reclassification to assets held for sale(89)— — 
Allowances for credit losses at December 31$298 $519 $539 
SDG&E:   
Allowances for credit losses at January 1$114 $144 $78 
Provisions for expected credit losses47 52 115 
Write-offs(81)(82)(49)
Allowances for credit losses at December 31$80 $114 $144 
SoCalGas:   
Allowances for credit losses at January 1$285 $331 $98 
Provisions for expected credit losses37 94 300 
Write-offs(108)(140)(67)
Allowances for credit losses at December 31$214 $285 $331 
(1)    Includes activities in 2025 within the disposal group that is classified as held for sale.
Allowances for credit losses related to trade receivables, other receivables and a note receivable are included in the Consolidated Balance Sheets as follows:
ALLOWANCES FOR CREDIT LOSSES
(Dollars in millions)
 December 31,
 20252024
Sempra:  
Accounts receivable – trade, net
$235 $447 
Accounts receivable – other, net
47 53 
Other long-term assets(1)(2)
16 19 
Total allowances for credit losses$298 $519 
SDG&E:  
Accounts receivable – trade, net
$49 $81 
Accounts receivable – other, net
26 25 
Other long-term assets(1)
5 8 
Total allowances for credit losses$80 $114 
SoCalGas:  
Accounts receivable – trade, net
$186 $251 
Accounts receivable – other, net
21 28 
Other long-term assets(1)
7 6 
Total allowances for credit losses$214 $285 
(1)    In January 2024, the CPUC directed SDG&E and SoCalGas to offer long-term repayment plans to eligible residential customers with past-due balances.
(2)    At December 31, 2025 and 2024, includes $4 and $5, respectively, of expected credit losses on an interest-bearing promissory note due from KKR Pinnacle.
Schedule of Related Party Transactions
We summarize amounts due from and to unconsolidated affiliates at the Registrants in the following table.
AMOUNTS DUE FROM (TO) UNCONSOLIDATED AFFILIATES
(Dollars in millions)
 December 31,
 20252024
Sempra:  
Tax sharing agreement with Oncor Holdings$— $8 
Various affiliates— 5 
Total due from unconsolidated affiliates – current(1)
$— $13 
Tax sharing arrangement with Oncor Holdings$(8)$— 
Total due to unconsolidated affiliates – current$(8)$— 
TAG Pipelines(2):
5.5% Note due January 14, 2026
$— $(8)
5.5% Note due July 14, 2026
— (12)
5.5% Note due January 19, 2027
— (15)
5.5% Note due July 21, 2027
— (19)
5.5% Note due January 19, 2028
— (48)
5.5% Note due July 18, 2028
— (41)
TAG Norte – 5.74% Note due December 17, 2029(2)
— (209)
Total due to unconsolidated affiliates – noncurrent(1)
$— $(352)
SDG&E:  
Various affiliates$1 $— 
Total due from unconsolidated affiliates – current$1 $— 
Sempra$(48)$(42)
SoCalGas(6)(14)
Various affiliates(5)(3)
Total due to unconsolidated affiliates – current$(59)$(59)
Income taxes due from Sempra(3)
$43 $38 
SoCalGas:  
SDG&E$6 $14 
Various affiliates2 2 
Total due from unconsolidated affiliates – current$8 $16 
Sempra$(35)$(38)
Total due to unconsolidated affiliates – current$(35)$(38)
Income taxes due to Sempra(3)
$(6)$(6)
(1)    At December 31, 2025, $3 due from unconsolidated affiliates is included in Assets Held for Sale and $477 due to unconsolidated affiliates is included in Liabilities Held for Sale on the Sempra Consolidated Balance Sheet.
(2)    U.S. dollar-denominated loans at fixed interest rates. Amounts include principal balances plus accumulated interest outstanding and value-added tax payable to the Mexican government.
(3)    SDG&E and SoCalGas are included in the consolidated income tax return of Sempra, and their respective income tax expense/benefit is computed as an amount equal to that which would result from each company having always filed a separate return. Amounts include current and noncurrent income taxes due from/to Sempra.
The following table summarizes income statement information from unconsolidated affiliates.
INCOME STATEMENT IMPACT FROM UNCONSOLIDATED AFFILIATES
(Dollars in millions)
 Years ended December 31,
 202520242023
Sempra:
Revenues$34 $40 $44 
Interest expense18 16 15 
SDG&E:
Revenues$22 $23 $21 
Cost of sales134 146 113 
SoCalGas:
Revenues$173 $169 $124 
Cost of sales(1)
(3)(5)35 
(1)    Includes net commodity costs from natural gas transactions with unconsolidated affiliates.
Schedule of Inventory
The components of inventories are as follows:
INVENTORY BALANCES AT DECEMBER 31
(Dollars in millions)
SempraSDG&ESoCalGas
2025(1)
20242025202420252024
Natural gas$158 $163 $2 $1 $156 $148 
LNG— 27 — — — — 
Materials and supplies403 369 265 201 138 139 
Total$561 $559 $267 $202 $294 $287 
(1)    Total inventories of $109 is included in Assets Held for Sale on the Sempra Consolidated Balance Sheet, which consists of $12 of natural gas, $12 of LNG and $85 of materials and supplies.
Schedule of Regulated Operations
The following table summarizes the location of balances related to the Wildfire Fund on Sempra’s and SDG&E’s Consolidated Balance Sheets.
WILDFIRE FUND
(Dollars in millions)
December 31,
Location20252024
Wildfire Fund asset:
Current
Prepaid Expenses
$14 $14 
Noncurrent
Wildfire Fund
246 262 
Wildfire Fund obligation:
Current
Other Current Liabilities
13 13 
NoncurrentDeferred Credits and Other20 31 
The following table summarizes the CPUC-approved cost of capital for SDG&E and SoCalGas for 2023 through 2025. The authorized weighting remained unchanged for each of the years presented.
AUTHORIZED COST OF CAPITAL
Authorized weighting202320242025
2023(1)
20242025
Return on rate baseWeighted return on rate base
SDG&E:
Long-Term Debt45.25 %4.05 %4.34 %4.34 %1.83 %1.96 %1.96 %
Preferred Equity2.75 6.22 6.22 6.22 0.17 0.17 0.17 
Common Equity52.00 9.95 10.65 10.23 5.17 5.54 5.32 
100.00 %7.18 %7.67 %7.45 %
SoCalGas:
Long-Term Debt45.60 %4.07 %4.54 %4.63 %1.86 %2.07 %2.11 %
Preferred Equity2.40 6.00 6.00 6.00 0.14 0.14 0.14 
Common Equity52.00 9.80 10.50 10.08 5.10 5.46 5.24 
100.00 %7.10 %7.67 %7.49 %
(1)    Total weighted return on rate base for SDG&E does not sum due to rounding differences.

In December 2025, the CPUC approved the following cost of capital for SDG&E and SoCalGas that became effective on January 1, 2026 and will remain in effect through December 31, 2028, subject to the CCM.
AUTHORIZED COST OF CAPITAL FOR 2026 – 2028
SDG&ESoCalGas
Authorized weightingReturn on
rate base		Weighted
return on
rate base		Authorized weightingReturn on
rate base		Weighted
return on
rate base
45.25 %4.59 %2.08 %Long-Term Debt45.60 %5.02 %2.29 %
2.75 6.22 0.17 Preferred Equity2.40 6.00 0.14 
52.00 9.93 5.16 Common Equity52.00 9.78 5.09 
100.00 %7.41 %100.00 %7.52 %
Schedule of Other Intangible Assets
Other Intangible Assets included on Sempra’s Consolidated Balance Sheet is as follows:
OTHER INTANGIBLE ASSETS
(Dollars in millions)
 December 31, 2024
Sempra(1):
Renewable energy transmission and consumption permits$169 
O&M agreement66 
ESJ PPA190 
Other15 
 440 
Less accumulated amortization:
Renewable energy transmission and consumption permits(68)
O&M agreement(20)
ESJ PPA(51)
Other(9)
 (148)
 $292 
(1)    At December 31, 2025, excludes total other intangible assets of $273, which is included in Assets Held for Sale on the Sempra Consolidated Balance Sheet and is comprised of $440 of gross other intangible assets, net of $167 of accumulated amortization.
Schedule of Property, Plant and Equipment
PROPERTY, PLANT AND EQUIPMENT BY MAJOR FUNCTIONAL CATEGORY
(Dollars in millions)
 December 31,Depreciation rates for years ended
December 31,
 20252024202520242023
SDG&E(1):
Natural gas operations$4,742 $4,531 2.63 %2.62 %2.60 %
Electric distribution13,357 12,542 4.26 4.21 4.05 
Electric transmission(2)
9,501 8,878 3.07 3.06 3.04 
Electric generation2,532 2,527 4.27 5.43 5.18 
Other electric2,915 2,722 6.72 6.95 7.05 
Construction work in progress(2)
1,986 1,962 N/AN/AN/A
Total SDG&E35,033 33,162 
SoCalGas:
Natural gas operations29,262 27,191 3.81 3.68 3.64 
Other non-utility37 32 0.97 0.98 1.03 
Construction work in progress1,779 1,861 N/AN/AN/A
Total SoCalGas31,078 29,084 
Other Sempra(3)(4):
Estimated useful life
(in years)(5)
Weighted-average useful life
(in years)(5)
Land and land rights— 498 
N/A
N/A
Machinery and equipment:
Pipelines and storage481 4,355 
19 to 49
44
Generating plants— 1,820 
N/A
N/A
LNG terminal— 1,156 
N/A
N/A
Refined products terminals— 876 
N/A
N/A
Other96 348 
1 to 9
2
Construction work in progress160 8,781 
N/A
N/A
Other52 317 
4 to 25
10
 789 18,151 
Total Sempra$66,900 $80,397 
(1)    Includes $214 decrease in 2025 from regulatory disallowances associated with SDG&E’s 2024 GRC Track 2 FD, which we discuss in Note 4.
(2)    At December 31, 2025, includes $553 in electric transmission assets and $3 in construction work in progress related to SDG&E’s 86% interest in the Southwest Powerlink transmission line, jointly owned by SDG&E with other utilities. SDG&E, and each of the other owners, holds its undivided interest as a tenant in common in the property. Each owner is responsible for its share of the project and participates in decisions concerning operations and capital expenditures. SDG&E’s share of operating expenses is included in SDG&E’s and Sempra’s Consolidated Statements of Operations.
(3)    At December 31, 2025, excludes total PP&E of $23,579, which is included in Assets Held for Sale on the Sempra Consolidated Balance Sheet and is comprised of $500 in land and land rights; machinery and equipment of $3,646 in pipelines and storage, $1,809 in generating plants, $1,160 in LNG terminal, $872 in refined products terminals, and $255 in other; $15,077 in construction work in progress; and $260 in other.
(4)    At December 31, 2025, $362 of utility plant, primarily pipelines and other distribution assets at Ecogas, is included in Assets Held for Sale on the Sempra Consolidated Balance Sheet.
(5)    Estimated useful life relates to PP&E that is held and used as of December 31, 2025. PP&E included in the disposal group that is classified as held for sale in 2025 is no longer depreciated.
DEPRECIATION EXPENSE
(Dollars in millions)
 Years ended December 31,
 202520242023
Sempra$2,537 $2,409 $2,202 
SDG&E1,309 1,216 1,092 
SoCalGas1,007 903 833 
ACCUMULATED DEPRECIATION AND AMORTIZATION
(Dollars in millions)
 December 31,
 20252024
SDG&E(1):
Accumulated depreciation:
Natural gas operations$1,191 $1,121 
Electric transmission, distribution and generation(2)
7,538 6,930 
Total SDG&E8,729 8,051 
SoCalGas:
Accumulated depreciation:
Natural gas operations8,933 8,315 
Other non-utility15 15 
Total SoCalGas8,948 8,330 
Other Sempra:
Accumulated depreciation – other(3)(4)
212 2,579 
Total Sempra $17,889 $18,960 
(1)    Includes $71 decrease in 2025 from regulatory disallowances associated with SDG&E’s 2024 GRC Track 2 FD, which we discuss in Note 4.
(2)    At December 31, 2025, includes $347 related to SDG&E’s 86% interest in the Southwest Powerlink transmission line, jointly owned by SDG&E and other utilities.
(3)    At December 31, 2025, $2,497 of accumulated depreciation is included in Assets Held for Sale on the Sempra Consolidated Balance Sheet.
(4)    At December 31, 2025, $88 of accumulated depreciation for utility plant at Ecogas is included in Assets Held for Sale on the Sempra Consolidated Balance Sheet.
Schedule of Capitalized Financing Costs
The table below summarizes capitalized financing costs, comprised of capitalized interest and AFUDC related to debt.
CAPITALIZED FINANCING COSTS
(Dollars in millions)
 Years ended December 31,
 202520242023
Sempra$801 $629 $448 
SDG&E108 100 116 
SoCalGas98 101 77 
Schedule of Asset Retirement Obligations
The changes in AROs are as follows:
CHANGES IN ASSET RETIREMENT OBLIGATIONS
(Dollars in millions)
 SempraSDG&ESoCalGas
 202520242023202520242023202520242023
Balance at January 1(1)
$3,925 $3,831 $3,712 $900 $894 $887 $2,930 $2,847 $2,743 
Accretion expense(2)
164 156 148 40 37 37 119 114 106 
Liabilities incurred10 — 18 10 — 15 — — — 
Payments(58)(65)(62)(47)(57)(59)(11)(8)(3)
Revisions(2)
1 3 15 (50)26 14 54 (23)1 
Reclassification to liabilities held for sale(94)— — — — — — — — 
Balance at December 31(1)
$3,948 $3,925 $3,831 $853 $900 $894 $3,092 $2,930 $2,847 
(1)    Current portion of the ARO for Sempra is included in Other Current Liabilities on the Consolidated Balance Sheets.
(2)    Sempra includes activities in 2025 within the disposal group that is classified as held for sale.
Schedule of Changes in Accumulated Other Comprehensive Income by Component The following tables present the changes in AOCI by component and amounts reclassified out of AOCI to net income, after amounts attributable to NCI.
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) BY COMPONENT(1)
(Dollars in millions)
 Foreign
currency
translation
adjustments		Financial
instruments
Pension
and PBOP
Total
AOCI
Sempra:
Balance at December 31, 2022$(59)$10 $(86)$(135)
OCI before reclassifications23 59 (35)47 
Amounts reclassified from AOCI(2)
— (66)4 (62)
Net OCI(2)
23 (7)(31)(15)
Balance at December 31, 2023(36)3 (117)(150)
OCI before reclassifications(30)34 (1)3 
Amounts reclassified from AOCI— (22)3 (19)
Net OCI(30)12 2 (16)
Balance at December 31, 2024(66)15 (115)(166)
OCI before reclassifications(3)
21 (68)(10)(57)
Amounts reclassified from AOCI(3)
— (1)27 26 
Net OCI21 (69)17 (31)
Balance at December 31, 2025$(45)$(54)$(98)$(197)
SDG&E:
Balance at December 31, 2022$(7)$(7)
OCI before reclassifications(2)(2)
Amounts reclassified from AOCI1 1 
Net OCI(1)(1)
Balance at December 31, 2023(8)(8)
OCI before reclassifications(3)(3)
Amounts reclassified from AOCI(1)(1)
Net OCI(4)(4)
Balance at December 31, 2024(12)(12)
OCI before reclassifications(1)(1)
Amounts reclassified from AOCI(3)
7 7 
Net OCI6 6 
Balance at December 31, 2025$(6)$(6)
SoCalGas:
Balance at December 31, 2022$(12)$(12)$(24)
OCI before reclassifications— (1)(1)
Amounts reclassified from AOCI1 1 2 
Net OCI1 — 1 
Balance at December 31, 2023(11)(12)(23)
OCI before reclassifications— (5)(5)
Amounts reclassified from AOCI1 — 1 
Net OCI1 (5)(4)
Balance at December 31, 2024(10)(17)(27)
OCI before reclassifications— (2)(2)
Amounts reclassified from AOCI1 11 12 
Net OCI1 9 10 
Balance at December 31, 2025$(9)$(8)$(17)
(1)    All amounts are net of income tax, if subject to tax, and after NCI.
(2)    Total AOCI includes $(46) of financial instruments associated with sale of NCI to KKR Denali in 2023, which we discuss in Note 13 in “Noncontrolling Interests – SI Partners Subsidiaries.” This transaction did not impact the Consolidated Statement of Comprehensive Income (Loss).
(3)    Pension and PBOP and Total AOCI include a $6 transfer of liabilities from SDG&E to Sempra related to the nonqualified pension plan.
Schedule of Reclassifications out Of Accumulated Other Comprehensive Income
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
(Dollars in millions)
Details about AOCI componentsAmounts reclassified from AOCIAffected line item on
Consolidated Statements of Operations
 Years ended December 31, 
 202520242023 
Sempra: 
Financial instruments: 
Interest rate instruments$(7)$(11)$1 Interest expense
Interest rate instruments(10)(23)(48)
Equity earnings(1)
Foreign exchange instruments3 (5)1 Revenues: Energy-related businesses
2 (2)2 Other income, net
Foreign exchange instruments5 (6)2 
Equity earnings(1)
Interest rate and foreign exchange instruments— — (1)Interest expense
— — (6)Other income, net
Total, before income tax(7)(47)(49) 
3 11 6 Income tax expense
Total, net of income tax(4)(36)(43) 
3 14 23 Earnings attributable to noncontrolling interests
Total, net of income tax and after NCI$(1)$(22)$(20) 
Pension and PBOP(2):
 
Amortization of actuarial loss$6 $6 $3 Other income, net
Amortization of prior service cost2 3 2 Other income, net
Settlement charges16 9 — Other income, net
Total, before income tax24 18 5 
 (3)(15)(1)Income tax expense
Total, net of income tax$21 $3 $4  
Total reclassifications for the period, net of income
tax and after NCI
$20 $(19)$(16) 
SDG&E: 
Pension and PBOP(2):
 
Amortization of actuarial loss$1 $1 $— Other income, net
Amortization of prior service cost— — 1 Other income, net
Total, before income tax1 1 1 
— (2)— Income tax benefit (expense)
Total reclassifications for the period, net of income
tax
$1 $(1)$1  
SoCalGas: 
Financial instruments: 
Interest rate instruments$1 $1 $1 Interest expense
Pension and PBOP(2):
 
Amortization of actuarial loss$1 $1 $1 Other (expense) income, net
Amortization of prior service cost1 1 1 Other (expense) income, net
Settlement charges10 — — Other income (expense), net
Total, before income tax12 2 2  
(1)(2)(1)Income tax benefit (expense)
Total, net of income tax$11 $— $1 
Total reclassifications for the period, net of income
tax
$12 $1 $2  
(1)    Equity earnings at Oncor Holdings and our foreign equity method investees are recognized after tax.
(2)    Amounts are included in the computation of net periodic benefit cost (see “Pension and PBOP” in Note 9).
Schedule of Other Income (expense)
Other Income, Net, on the Consolidated Statements of Operations consists of the following:
OTHER INCOME (EXPENSE), NET
(Dollars in millions)
 Years ended December 31,
 202520242023
Sempra:
Allowance for equity funds used during construction$174 $150 $140 
Investment gains, net(1)
52 36 28 
(Losses) gains on interest rate and foreign exchange instruments, net(2)2 4 
Foreign currency transaction gains (losses), net13 (16)2 
Non-service components of net periodic benefit cost(142)(101)(106)
Interest on regulatory balancing accounts, net93 75 79 
Sundry, net(19)(10)(16)
Total$169 $136 $131 
SDG&E:
Allowance for equity funds used during construction$79 $73 $86 
Non-service components of net periodic benefit cost(27)4 (19)
Interest on regulatory balancing accounts, net59 23 42 
Sundry, net(5)(10)(12)
Total$106 $90 $97 
SoCalGas:
Allowance for equity funds used during construction$69 $72 $54 
Non-service components of net periodic benefit cost(99)(86)(80)
Interest on regulatory balancing accounts, net34 52 37 
Sundry, net(10)(13)(15)
Total$(6)$25 $(4)
(1)    Represents net investment gains (losses) on dedicated assets in support of our executive retirement and deferred compensation plans. These amounts are offset by corresponding changes in compensation expense related to the plans, recorded in O&M on the Consolidated Statements of Operations.