Company: SREA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001032208-25-000027
Chunk: 29

Company: SEMPRA
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 29
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,420 $1,379 $2,020 $1,805 

REVENUES FROM CONTRACTS WITH CUSTOMERSRemaining Performance ObligationsFor contracts greater than one year, at March 31, 2025, we expect to recognize revenue related to the fixed fee component of the consideration as shown below. Sempra’s remaining performance obligations primarily relate to capacity agreements for natural gas storage and transportation at Sempra Infrastructure and transmission line projects at SDG&E. SoCalGas did not have any remaining performance obligations for contracts greater than one year at March 31, 2025.REMAINING PERFORMANCE OBLIGATIONS(Dollars in millions)Sempra(1)SDG&E2025 (excluding first three months of 2025)$306 $3 2026289 4 2027289 4 2028242 4 2029215 4 Thereafter2,133 52 Total revenues to be recognized$3,474 $71 (1)    Excludes intercompany transactions. Contract Liabilities from Revenues from Contracts with CustomersActivities within Sempra’s and SDG&E’s contract liabilities are presented below. There were no contract liabilities at SoCalGas in the three months ended March 31, 2025 or 2024.CONTRACT LIABILITIES(Dollars in millions)20252024Sempra:Contract liabilities at January 1$(196)$(198)Revenue from performance obligations satisfied during reporting period28 2 Payments received in advance(1)(3)Contract liabilities at March 31(1)$(169)$(199)SDG&E:Contract liabilities at January 1$(72)$(75)Revenue from performance obligations satisfied during reporting period1 1 Contract liabilities at March 31(2)$(71)$(74)(1)     Balances at March 31, 2025 include $79 in Other Current Liabilities and $90 in Deferred Credits and Other.(2)     Balances at March 31, 2025 include $4 in Other Current Liabilities and $67 in Deferred Credits and Other.

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Receivables from Revenues from Contracts with CustomersThe 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,