Company: SREA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001032208-25-000012
Chunk: 502

Company: SEMPRA
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 502
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. Certain of our leases contain rate adjustments or are based on foreign currency exchange rates that may result in lease payments received that vary in amount from one period to the next. In addition to minimum fixed payments, our refined products terminals receive variable lease payments for barrels delivered that exceed minimum delivery requirements.

2024 Form 10-K  |  F-132

LESSOR INFORMATION(Dollars in millions)December 31,20242023Sempra – Assets subject to operating leases:Property, plant and equipment: Pipelines and storage$1,313 $1,304 Refined products terminals 623 621 Other77 77 Total2,013 2,002 Accumulated depreciation(605)(539)Property, plant and equipment, net$1,408 $1,463 December 31, 2024Sempra – Maturity analysis of lease payments:Operating leasesSales-type leases2025$318 $17 2026272 9 2027269 — 2028268 — 2029246 — Thereafter2,324 — Total undiscounted cash flows$3,697 26 Less: present value of lease payments (recognized as lease receivable)(1)(23)Difference between undiscounted cash flows and discounted cash flows$3 (1)     Includes $15 in Other Current Assets and $8 in Other Long-Term Assets on the Consolidated Balance Sheet.LESSOR INFORMATION ON THE CONSOLIDATED STATEMENTS OF OPERATIONS(Dollars in millions)Years ended December 31,202420232022Sempra – Sales-type leases:Interest income$5 $6 $8 Total revenues from sales-type leases(1)$5 $6 $8 Sempra – Operating leases:Fixed lease payments$340 $321 $290 Variable lease payments38 34 10 Total revenues from operating leases(1)$378 $355 $300 Depreciation expense$73 $62 $54 (1)     Included in Revenues: Energy-Related Businesses on the Consolidated Statements of Operations.

CONTRACTUAL COMMITMENTSNatural Gas ContractsSoCalGas procures natural gas for both SDG&E’s and SoCalGas’ core customers in a combined portfolio. SoCalGas buys natural gas under short-term and long-term contracts for this portfolio from various producing regions in the southwestern U.S., U.S. Rockies and Canada.SoCal