Company: SREA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001032208-25-000012
Chunk: 509

Company: SEMPRA
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 509
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M, who is its chief executive officer, uses segment earnings attributable to common shares predominantly in the annual financial planning process to assess financial performance. Sempra’s CODM prioritizes resource allocation to each segment in a manner that aligns with Sempra’s capital expenditures plan, which is focused on safety, reliability and modernization of its segments’ infrastructure while supporting customer affordability; investing in incremental infrastructure growth projects with attractive risk-adjusted returns; maintaining a strong balance sheet; and returning cash to shareholders.The accounting policies of the segments are consistent with those described in the summary of significant accounting policies in Note 1. Sempra accounts for intersegment sales as if the sales were to third parties, that is, at current market prices. The cost of common services shared by the reportable segments is assigned directly or allocated based on various cost factors, depending on the nature of the service provided. Parent and other allocates depreciation expense to the reportable segments without allocating the related depreciable assets to those reportable segments. Interest income and interest expense are recorded on intersegment loans. We have eliminated intersegment accounts and transactions within Sempra’s consolidated financial statements. Amounts labeled as “Parent and other,” which does not meet the definition of an operating or reportable segment, consist primarily of activities of parent organizations.

2024 Form 10-K  |  F-138

The following tables present selected information by segment and reconciliations of assets, capital expenditures for PP&E, and earnings attributable to common shares to Sempra’s consolidated totals.SEGMENT INFORMATION(Dollars in millions)December 31,20242023ASSETSSempra California$56,116 $53,430 Sempra Texas Utilities15,534 14,392 Sempra Infrastructure22,954 19,430 Segment totals94,604 87,252 Parent and other2,622 967 Intersegment eliminations(1)(1,071)(1,038)Total Sempra$96,155 $87,181 EQUITY METHOD INVESTMENTSSempra Texas Utilities$15,522 $14,380 Sempra Infrastructure2,411 2,129 Segment totals/Total Sempra$17,933 $16,509 GEOGRAPHIC LOCATION OF PROPERTY, PLANT AND EQUIPMENT, NETUnited States$52,952 $46,935 Mexico8,485 8,024 Rest of the world— 1 Total Sempra$61,437 $