Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 357

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 357
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In the three months ended September 30, 2025 compared to the same period in 2024, Sempra’s O&M increased by $23 million (2%) primarily due to:

▪$39 million increase at Sempra Infrastructure due to:

◦$18 million from higher provisions for expected credit losses

◦$17 million primarily due to higher expenses in 2025 in advance of ECA LNG Phase 1 commencing commercial operations and higher maintenance expenses

◦$8 million higher development costs and certain non-capitalized expenses from projects under construction

▪$16 million increase at Parent and other primarily due to non-recoverable insurance claims in 2025

Offset by:

▪$33 million decrease at Sempra California primarily due to lower non-refundable operating costs

In the nine months ended September 30, 2025 compared to the same period in 2024, Sempra’s O&M increased by $60 million (2%) primarily due to:

▪$32 million increase at Sempra California due to:

◦$58 million higher expenses associated with refundable programs, which costs are recovered in revenue

Offset by:

◦$29 million lower non-refundable operating costs

▪ $28 million increase at Sempra Infrastructure due to:

◦$22 million primarily due to higher expenses in 2025 in advance of ECA LNG Phase 1 commencing commercial operations and higher maintenance expenses

◦$12 million higher development costs and certain non-capitalized expenses from projects under construction

▪Parent and other was consistent with the prior 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 $