CONDENSED BALANCE SHEETS - SDG&E - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 794	$ 29	[1]
Accounts receivable – trade, net	1,604	1,767	[1]
Accounts receivable – other, net	203	157	[1]
Due from unconsolidated affiliates	34	0	[1]
Income taxes receivable, net	177	71	[1]
Inventories	530	561	[1]
Regulatory assets	561	761	[1]
Greenhouse gas allowances	199	203	[1]
Other current assets	234	262	[1]
Total current assets	36,203	34,837	[1]
Other assets:
Regulatory assets	4,077	3,868	[1]
Greenhouse gas allowances	1,378	1,221	[1]
Nuclear decommissioning trusts	884	899	[1]
Right-of-use assets – operating leases	1,297	1,262	[1]
Wildfire fund	240	246	[1]
Other long-term assets	1,261	1,300	[1]
Total other assets	28,126	27,030	[1]
Property, plant and equipment:
Property, plant and equipment	67,477	66,900	[1]
Less accumulated depreciation and amortization	(18,288)	(17,889)	[1]
Property, plant and equipment, net	49,189	49,011	[1]
Total assets	113,518	110,878	[1]
Current liabilities:
Short-term debt	3,708	4,166	[1]
Accounts payable – trade	1,134	1,461	[1]
Accounts payable – other	174	203	[1]
Accrued compensation and benefits	316	521	[1]
Regulatory liabilities	3	3	[1]
Current portion of long-term debt and finance leases	1,878	1,876	[1]
Greenhouse gas obligations	199	203	[1]
Total current liabilities	21,439	21,894	[1]
Long-term debt and finance leases	30,847	28,979	[1]
Deferred credits and other liabilities:
Regulatory liabilities	4,303	4,250	[1]
Greenhouse gas obligations	1,064	957	[1]
Pension and other postretirement benefit plan obligations, net of plan assets	126	124	[1]
Deferred income taxes	6,414	6,127	[1]
Asset retirement obligations	3,773	3,743	[1]
Deferred credits and other	2,824	2,805	[1]
Total deferred credits and other liabilities	18,504	18,006	[1]
Commitments and contingencies			[1]
Equity:
Common stock	14,731	14,699	[1]
Retained earnings	17,699	17,092	[1]
Accumulated other comprehensive income (loss)	(191)	(197)	[1]
Total shareholders’ equity	32,239	31,594	[1]
Total liabilities, contingently redeemable noncontrolling interest, and equity	113,518	110,878	[1]
Related Party
Current liabilities:
Other current liabilities	0	8	[1]
Nonrelated Party
Current liabilities:
Other current liabilities	858	979	[1]
SDG&E
Current assets:
Cash and cash equivalents	747	7	[2]
Accounts receivable – trade, net	897	809	[2]
Accounts receivable – other, net	105	92	[2]
Due from unconsolidated affiliates	1	1	[2]
Income taxes receivable, net	2	30	[2]
Inventories	263	267	[2]
Prepaid expenses	104	121	[2]
Regulatory assets	361	433	[2]
Greenhouse gas allowances	24	28	[2]
Other current assets	26	18	[2]
Total current assets	2,530	1,806	[2]
Other assets:
Regulatory assets	1,994	1,953	[2]
Greenhouse gas allowances	298	286	[2]
Nuclear decommissioning trusts	884	899	[2]
Right-of-use assets – operating leases	1,025	1,047	[2]
Wildfire fund	240	246	[2]
Other long-term assets	135	141	[2]
Total other assets	4,576	4,572	[2]
Property, plant and equipment:
Property, plant and equipment	35,383	35,033	[2]
Less accumulated depreciation and amortization	(8,946)	(8,729)	[2]
Property, plant and equipment, net	26,437	26,304	[2]
Total assets	33,543	32,682	[2]
Current liabilities:
Short-term debt	0	531	[2]
Accounts payable – trade	622	712	[2]
Accounts payable – other	35	42	[2]
Interest payable	137	94	[2]
Accrued compensation and benefits	85	174	[2]
Regulatory liabilities	3	3	[2]
Current portion of long-term debt and finance leases	799	798	[2]
Greenhouse gas obligations	24	28	[2]
Asset retirement obligations	109	107	[2]
Total current liabilities	2,224	2,821	[2]
Long-term debt and finance leases	11,159	10,081	[2]
Deferred credits and other liabilities:
Regulatory liabilities	3,003	2,960	[2]
Greenhouse gas obligations	140	137	[2]
Pension and other postretirement benefit plan obligations, net of plan assets	30	19	[2]
Deferred income taxes	3,343	3,286	[2]
Asset retirement obligations	747	746	[2]
Deferred credits and other	1,668	1,699	[2]
Total deferred credits and other liabilities	8,931	8,847	[2]
Commitments and contingencies			[2]
Equity:
Preferred stock	0	0	[2]
Common stock	1,660	1,660	[2]
Retained earnings	9,575	9,279	[2]
Accumulated other comprehensive income (loss)	(6)	(6)	[2]
Total shareholders’ equity	11,229	10,933	[2]
Total liabilities, contingently redeemable noncontrolling interest, and equity	33,543	32,682	[2]
SDG&E | Related Party
Current assets:
Due from unconsolidated affiliates	1	1
Current liabilities:
Other current liabilities	70	59	[2]
SDG&E | Nonrelated Party
Current liabilities:
Other current liabilities	$ 340	$ 273	[2]

[1] Derived from audited financial statements.

[2] Derived from audited financial statements.