Company: SREA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001032208-25-000027
Chunk: 18

Company: SEMPRA
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 18
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 receivables and customer payment patterns, historical and industry trends, counterparty creditworthiness, economic conditions and specific events, such as bankruptcies, pandemics and other factors. We write off financial assets measured at amortized cost in the period in which we determine they are not recoverable. We record recoveries of amounts previously written off when it is known that they will be recovered.SDG&E and SoCalGas have regulatory mechanisms to recover credit losses and thus record changes in the allowances for credit losses related to Accounts Receivable – Trade that are probable of recovery in regulatory accounts. We discuss regulatory accounts in Note 4.Changes in allowances for credit losses for trade receivables and other receivables are as follows:CHANGES IN ALLOWANCES FOR CREDIT LOSSES(Dollars in millions)20252024Sempra:Allowances for credit losses at January 1$514 $533 Provisions for expected credit losses(4)42 Write-offs (48)(50)Allowances for credit losses at March 31$462 $525 SDG&E:Allowances for credit losses at January 1$114 $144 Provisions for expected credit losses15 6 Write-offs(20)(17)Allowances for credit losses at March 31$109 $133 SoCalGas:Allowances for credit losses at January 1$285 $331 Provisions for expected credit losses9 26 Write-offs(28)(33)Allowances for credit losses at March 31$266 $324 

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Allowances for credit losses related to trade receivables and other receivables are included in the Condensed Consolidated Balance Sheets as follows:ALLOWANCES FOR CREDIT LOSSES(Dollars in millions)March 31,December 31,20252024Sempra:Accounts receivable – trade, net$395 $447 Accounts receivable – other, net56 53 Other long-term assets(1)11 14 Total allowances for credit losses$462 $514 SDG&E:Accounts receivable – trade, net$76 $81 Accounts receivable – other, net26 25 Other long-term assets(1)7 8 Total allowances for credit losses$109 $114 SoCalGas:Accounts receivable – trade, net$232 $251 Accounts receivable – other, net30 28 Other long-term assets(1)