Company: SREA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001032208-25-000012
Chunk: 382

Company: SEMPRA
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 382
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 which a liability has been recorded are accrued when it is probable that fees also will be incurred and amounts are estimable.

FOREIGN CURRENCY TRANSLATION AND TRANSACTIONSOur natural gas distribution utility in Mexico, Ecogas, uses its local currency as its functional currency. The assets and liabilities of its foreign operations are translated into U.S. dollars at current exchange rates at the end of the reporting period, and revenues and expenses are translated at average exchange rates for the year. The resulting noncash translation adjustments do not enter into the calculation of earnings or retained earnings but are reflected in OCI and AOCI.Cash flows of this consolidated foreign subsidiary are translated into U.S. dollars using average exchange rates for the period. We report the effect of exchange rate changes on cash balances held in foreign currencies in Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash on Sempra’s Consolidated Statements of Cash Flows. Foreign currency transaction gains (losses), net, are included in Other Income, Net, on Sempra’s Consolidated Statements of Operations.

2024 Form 10-K  |  F-46

OTHER INCOME, NETOther Income, Net, on the Consolidated Statements of Operations consists of the following:OTHER INCOME (EXPENSE), NET(Dollars in millions) Years ended December 31, 202420232022Sempra:Allowance for equity funds used during construction$150 $140 $143 Investment gains (losses), net(1)36 28 (42)Gains on interest rate and foreign exchange instruments, net2 4 11 Foreign currency transaction (losses) gains, net(2)(16)2 (24)Non-service components of net periodic benefit cost(101)(106)(59)Interest on regulatory balancing accounts, net75 79 26 Sundry, net(10)(16)(31)Total$136 $131 $24 SDG&E:Allowance for equity funds used during construction$73 $86 $88 Non-service components of net periodic benefit cost4 (19)(11)Interest on regulatory balancing accounts, net23 42 18 Sundry, net(10)(12)(3)Total$90 $97 $92 SoCalGas:Allowance for equity funds used during construction$72 $54 $55 Non-service components of net periodic benefit cost(86)(80)(42)Interest on regulatory balancing accounts