Company: SREA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001032208-25-000012
Chunk: 456

Company: SEMPRA
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 456
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 significant fluctuations in our income tax expense and equity earnings from these impacts; however, we generally do not hedge our deferred income tax assets and liabilities or for inflation.The following table presents the notional amounts of our foreign currency derivatives, excluding those in our equity method investments.FOREIGN CURRENCY DERIVATIVES(Dollars in millions) December 31, 2024December 31, 2023Notional amountMaturitiesNotional amountMaturitiesSempra:    Foreign currency derivatives$162 2025-2026$176 2024-2025

2024 Form 10-K  |  F-101

FINANCIAL STATEMENT PRESENTATIONThe Consolidated Balance Sheets reflect the offsetting of net derivative positions and cash collateral with the same counterparty when a legal right of offset exists. The following tables provide the fair values of derivative instruments on the Consolidated Balance Sheets, including the amount of cash collateral receivables that were not offset because the cash collateral was in excess of liability positions. We discuss the fair value of derivative assets and liabilities in Note 10.DERIVATIVE INSTRUMENTS ON THE CONSOLIDATED BALANCE SHEETS(Dollars in millions) December 31, 2024 Current assets: Fixed-price contracts and other derivatives(1)Other long-term assetsOther currentliabilitiesDeferred credits and otherSempra:    Derivatives designated as hedging instruments:    Interest rate instruments$7 $28 $— $— Foreign exchange instruments4 1 — — Derivatives not designated as hedging instruments:    Interest rate instruments12 246 — — Commodity contracts not subject to rate recovery16 23 (21)(43)Associated offsetting commodity contracts(15)(23)15 23 Commodity contracts subject to rate recovery7 4 (55)(10)Associated offsetting commodity contracts(5)(2)5 2 Associated offsetting cash collateral— — 10 4 Net amounts presented on the balance sheet26 277 (46)(24)Additional cash collateral for commodity contractsnot subject to rate recovery40 — — — Additional cash collateral for commodity contractssubject to rate recovery25 — — — Total(2)$91 $277 $(46)$(24)SDG&E:    Derivatives not designated as hedging instruments:    Commodity contracts subject to