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

Company: SEMPRA
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 10
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CONTINUED)(Dollars in millions) March 31,December 31,20252024(1) (unaudited) LIABILITIES AND SHAREHOLDERS’ EQUITY  Current liabilities:  Short-term debt$847 $1,037 Accounts payable – trade502 752 Accounts payable – other137 158 Due to unconsolidated affiliates25 38 Accrued compensation and benefits182 245 Regulatory liabilities283 64 Current portion of long-term debt and finance leases374 373 Greenhouse gas obligations178 176 Asset retirement obligations89 91 Other current liabilities616 451 Total current liabilities3,233 3,385 Long-term debt and finance leases7,039 7,031 Deferred credits and other liabilities:  Regulatory liabilities1,097 1,115 Greenhouse gas obligations633 410 Pension obligation, net of plan assets57 45 Deferred income taxes2,101 2,005 Asset retirement obligations2,865 2,839 Deferred credits and other376 367 Total deferred credits and other liabilities7,129 6,781 Commitments and contingencies (Note 12)Shareholders’ equity:  Preferred stock (11,000,000 shares authorized; 862,043 shares outstanding)22 22 Common stock (100,000,000 shares authorized; 91,300,000 shares outstanding;no par value)2,316 2,316 Retained earnings6,293 5,850 Accumulated other comprehensive income (loss)(25)(27)Total shareholders’ equity8,606 8,161 Total liabilities and shareholders’ equity$26,007 $25,358 

(1)    Derived from audited financial statements.

See Notes to Condensed Financial Statements.

25

Table of Contents

SOUTHERN CALIFORNIA GAS COMPANYCONDENSED STATEMENTS OF CASH FLOWS(Dollars in millions) Three months ended March 31, 20252024 (unaudited)CASH FLOWS FROM OPERATING ACTIVITIES  Net income$443 $359 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization242 223 Deferred income taxes and investment tax credits(33)40 Bad debt expense8 26 Other(5)(4)