Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 38

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 38
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)(8)(7)Total$49 $65 $199 $194 SDG&E: Allowance for equity funds used during construction$19 $21 $61 $60 Non-service components of net periodic benefit cost(3)(3)1 4 Interest on regulatory balancing accounts, net18 12 44 30 Sundry, net(2)— (3)(8)Total$32 $30 $103 $86 SoCalGas: Allowance for equity funds used during construction$17 $18 $53 $54 Non-service components of net periodic benefit cost(28)(16)(34)(12)Interest on regulatory balancing accounts, net11 14 26 38 Sundry, net(3)(3)(8)(7)Total$(3)$13 $37 $73 (1)    Represents net investment gains (losses) on dedicated assets in support of our executive retirement and deferred compensation plans. These amounts are offset by corresponding changes in compensation expense related to the plans, recorded in O&M on the Condensed Consolidated Statements of Operations.

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INCOME TAXESWe provide our calculations of ETRs in the following table.INCOME TAX EXPENSE (BENEFIT) AND EFFECTIVE INCOME TAX RATES(Dollars in millions)Three months ended September 30,Nine months ended September 30,2025202420252024Sempra:Income tax expense (benefit)$482 $(105)$711 $(63)Income before income taxes and equity earnings$160 $200 $1,109 $1,213 Equity earnings, before income tax(1)133 132 443 426 Pretax income$293 $332 $1,552 $1,639 Effective income tax rate165 %(32)%46 %(4)%SDG&E:Income tax (benefit) expense$(33)$15 $(12)$89 Income before income taxes$291 $276 $768 $759 Effective income tax rate(11)%5 %(2)%12 %SoCalGas:Income tax (benefit) expense$(95)$(52)$(51)$1 (Loss) income before income taxes$(49)$(66)$523 $477 Effective income tax rate194 %79 %(10)%— %(1)    We discuss how