Company: SREA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001032208-25-000012
Chunk: 425

Company: SEMPRA
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 425
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 removal related to certain utility plant assets▪utility self-developed software expenditures▪depreciation related to certain utility plant assets▪state income taxesAFUDC related to equity recorded for regulated construction projects at Sempra Infrastructure has similar flow-through treatment.

2024 Form 10-K  |  F-74

We present in the table below reconciliations of net U.S. statutory federal income tax rates to our ETRs. RECONCILIATION OF FEDERAL INCOME TAX RATES TO EFFECTIVE INCOME TAX RATES Years ended December 31, 202420232022Sempra:U.S. federal statutory income tax rate21 %21 %21 %Valuation allowances14 — (2)Utility depreciation4 3 4 Non-U.S. earnings taxed at rates different from the U.S. statutory income tax rate(2)1 1 3 State income taxes, net of federal income tax benefit1 1 1 Outside basis differences— — 6 Remeasurement of deferred taxes— (1)(3)Tax credits(1)(5)(1)Utility self-developed software expenditures(1)(1)— Allowance for equity funds used during construction(1)(1)(1)Amortization of excess deferred income taxes(1)(1)(2)Resolution of prior years’ income tax items(2)(2)(2)Noncontrolling interests(3)(3)— Utility repairs expenditures(8)(6)(5)Foreign exchange and inflation effects(1)(14)9 9 Other, net(2)— — Effective income tax rate8 %15 %28 %SDG&E:U.S. federal statutory income tax rate21 %21 %21 %Depreciation5 5 3 State income taxes, net of federal income tax benefit3 2 4 Self-developed software expenditures(1)(1)— Resolution of prior years’ income tax items(1)(1)(2)Amortization of excess deferred income taxes(1)(2)(2)Allowance for equity funds used during construction(1)(2)(2)Tax credits(1)(16)— Repairs expenditures(9)(8)(5)Other, net— (1)— Effective income tax rate15 %(3)%17 %SoCalGas:U.S. federal statutory income tax rate21 %21 %21 %Dep