REVENUES

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

REVENUES

REVENUES

We discuss revenue recognition for revenues from contracts with customers and from sources other than contracts with customers in Note 3 of the Notes to Consolidated Financial Statements in the Annual Report.

The following tables disaggregate our revenues from contracts with customers by major service line and market. We also provide a reconciliation to total revenues by segment for Sempra. The majority of our revenue is recognized over time.

DISAGGREGATED REVENUES
(Dollars in millions)
	Sempra
	Sempra California		Sempra Infrastructure		Consolidating adjustments and Parent and other		Sempra
	Three months ended March 31, 2026
By major service line:
Utilities	$	3,220	$	27	$	(9)	$	3,238
Energy-related businesses	—		203		(13)		190
Revenues from contracts with customers	$	3,220	$	230	$	(22)	$	3,428
By market:
Gas	$	1,988	$	135	$	(7)	$	2,116
Electric	1,232		95		(15)		1,312
Revenues from contracts with customers	$	3,220	$	230	$	(22)	$	3,428
Revenues from contracts with customers	$	3,220	$	230	$	(22)	$	3,428
Utilities regulatory revenues	11		—		—		11
Other revenues	—		213		3		216
Total revenues	$	3,231	$	443	$	(19)	$	3,655
	Three months ended March 31, 2025
By major service line:
Utilities	$	3,463	$	26	$	(6)	$	3,483
Energy-related businesses	—		218		(20)		198
Revenues from contracts with customers	$	3,463	$	244	$	(26)	$	3,681
By market:
Gas	$	2,392	$	142	$	(5)	$	2,529
Electric	1,071		102		(21)		1,152
Revenues from contracts with customers	$	3,463	$	244	$	(26)	$	3,681
Revenues from contracts with customers	$	3,463	$	244	$	(26)	$	3,681
Utilities regulatory revenues	(62)		—		—		(62)
Other revenues	—		182		1		183
Total revenues	$	3,401	$	426	$	(25)	$	3,802

DISAGGREGATED REVENUES
(Dollars in millions)
	SDG&E				SoCalGas
	Three months ended March 31,
	2026		2025		2026		2025
By major service line:
Revenues from contracts with customers – Utilities	$	1,556	$	1,434	$	1,708	$	2,068
By market:
Gas	$	321	$	359	$	1,708	$	2,068
Electric	1,235		1,075		—		—
Revenues from contracts with customers	$	1,556	$	1,434	$	1,708	$	2,068
Revenues from contracts with customers	$	1,556	$	1,434	$	1,708	$	2,068
Utilities regulatory revenues	(9)		(14)		20		(48)
Total revenues	$	1,547	$	1,420	$	1,728	$	2,020

REVENUES FROM CONTRACTS WITH CUSTOMERS

Remaining Performance Obligations

For contracts greater than one year, we expect to recognize revenue related to the fixed fee component of the consideration. Sempra’s remaining performance obligations primarily relate to capacity agreements for transmission line projects at SDG&E and natural gas storage and transportation at Sempra Infrastructure. SoCalGas did not have any remaining performance obligations for contracts greater than one year at March 31, 2026.

At March 31, 2026, SDG&E’s remaining performance obligations for contracts greater than one year totaled $67 million, comprising $3 million in 2026, excluding the first three months of 2026, $4 million in each of 2027 through 2030 and $48 million thereafter. At March 31, 2026, remaining performance obligations for contracts greater than one year within the disposal group that is classified as held for sale totaled $3,064 million, comprising $232 million in 2026, excluding the first three months of 2026, $287 million in 2027, $241 million in 2028, $213 million in 2029, $213 million in 2030, and $1,878 million thereafter.

Contract Liabilities from Revenues from Contracts with Customers

Activities within Sempra’s and SDG&E’s contract liabilities are presented below. There were no contract liabilities at SoCalGas in the three months ended March 31, 2026 or 2025.

CONTRACT LIABILITIES
(Dollars in millions)
	2026		2025
Sempra:
Contract liabilities at January 1	$	(68)	$	(196)
Revenue from performance obligations satisfied during reporting period(1)	1		28
Payments received in advance(1)	—		(1)
Contract liabilities at March 31(2)	$	(67)	$	(169)
SDG&E:
Contract liabilities at January 1	$	(68)	$	(72)
Revenue from performance obligations satisfied during reporting period	1		1
Contract liabilities at March 31(2)	$	(67)	$	(71)

(1)    Includes negligible activities in 2026 within the disposal group that is classified as held for sale.

(2)    Balance at March 31, 2026 includes $4 in Other Current Liabilities and $63 in Deferred Credits and Other.

Receivables from Revenues from Contracts with Customers

The table below shows receivable balances, net of allowances for credit losses, associated with revenues from contracts with customers on the Condensed Consolidated Balance Sheets.

RECEIVABLES FROM REVENUES FROM CONTRACTS WITH CUSTOMERS
(Dollars in millions)
	March 31, 2026		December 31, 2025
Sempra:
Accounts receivable – trade, net(1)	$	1,603	$	1,767
Accounts receivable – other, net	22		22
Assets held for sale	91		77
Other long-term assets(2)	21		21
Total	$	1,737	$	1,887
SDG&E:
Accounts receivable – trade, net(1)	$	897	$	809
Accounts receivable – other, net	18		18
Due from unconsolidated affiliates – current(3)	11		11
Other long-term assets(2)	4		3
Total	$	930	$	841
SoCalGas:
Accounts receivable – trade, net	$	706	$	958
Accounts receivable – other, net	4		4
Other long-term assets(2)	17		18
Total	$	727	$	980

(1)     At March 31, 2026 and December 31, 2025, includes $135 and $152, respectively, of receivables due from customers that were billed on behalf of CCAs, which are not included in revenues.

(2)     In 2024, the CPUC directed SDG&E and SoCalGas to offer long-term payment plans to eligible residential customers with past-due balances.

(3)     Amount is presented net of amounts due to unconsolidated affiliates on the Condensed Consolidated Balance Sheets, when right of offset exists.