Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 119

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 119
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 year due to: 

◦$22 million due to non-recoverable insurance claims in 2025

Offset by:

◦$10 million from $5 million compensation benefit in 2025 compared to $5 million compensation expense in 2024

◦$4 million due to lower deferred compensation expense

Other Income, Net

In the three months ended September 30, 2025 compared to the same period in 2024, Sempra’s other income, net, decreased by $16 million (25%) to $49 million primarily due to: 

▪$19 million higher non-service components of net periodic benefit cost primarily at Sempra California 

▪$7 million lower investment gains on dedicated assets in support of our employee nonqualified benefit plan and deferred compensation plan at Parent and other

Offset by:

▪$7 million from $3 million gains in 2025 compared to $4 million losses in 2024 from impacts associated with interest rate and foreign exchange instruments and foreign currency transactions driven by other foreign currency transactional effects at Sempra Infrastructure 

105

In the nine months ended September 30, 2025 compared to the same period in 2024, Sempra’s other income, net, increased by $5 million (3%) to $199 million primarily due to:

▪$16 million higher AFUDC equity at Sempra Infrastructure

▪$12 million from $8 million gains in 2025 compared to $4 million losses in 2024 from impacts associated with interest rate and foreign exchange instruments and foreign currency transactions driven by other foreign currency transactional effects primarily at Sempra Infrastructure

▪$9 million higher net interest income on regulatory balancing accounts at Sempra California

Offset by:

▪$23 million higher non-service components of net periodic benefit cost primarily at Sempra California 

▪$7 million reduction in regulatory interest from disallowed regulatory recovery of COVID-19 costs at Sempra California

Interest Income

In the nine months ended September 30, 2025 compared to the same period in 2024, Sempra’s interest income increased by $18 million (38%) to $65 million primarily due to a $14 million change in the fair value of the Support Agreement at Sempra Infrastructure.

Interest Expense

In the three months ended September 30, 2025 compared to the same period in 2024, Sempra’s interest expense increased by $75 million (23%) to $403 million primarily due to: 

▪