Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 358

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 358
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4 million losses in 2024 from impacts associated with interest rate and foreign exchange instruments and foreign currency transactions driven by other foreign currency transactional effects at Sempra Infrastructure 

105

In the nine months ended September 30, 2025 compared to the same period in 2024, Sempra’s other income, net, increased by $5 million (3%) to $199 million primarily due to:

▪$16 million higher AFUDC equity at Sempra Infrastructure

▪$12 million from $8 million gains in 2025 compared to $4 million losses in 2024 from impacts associated with interest rate and foreign exchange instruments and foreign currency transactions driven by other foreign currency transactional effects primarily at Sempra Infrastructure

▪$9 million higher net interest income on regulatory balancing accounts at Sempra California

Offset by:

▪$23 million higher non-service components of net periodic benefit cost primarily at Sempra California 

▪$7 million reduction in regulatory interest from disallowed regulatory recovery of COVID-19 costs at Sempra California

Interest Income

In the nine months ended September 30, 2025 compared to the same period in 2024, Sempra’s interest income increased by $18 million (38%) to $65 million primarily due to a $14 million change in the fair value of the Support Agreement at Sempra Infrastructure.

Interest Expense

In the three months ended September 30, 2025 compared to the same period in 2024, Sempra’s interest expense increased by $75 million (23%) to $403 million primarily due to: 

▪$39 million at Parent and other from higher debt balances from debt issuances

▪$21 million at Sempra California from higher debt balances from debt issuances

▪$16 million at Sempra Infrastructure primarily from higher interest expense related to a customer’s early termination of firm transportation agreements

In the nine months ended September 30, 2025 compared to the same period in 2024, Sempra’s interest expense increased by $251 million (27%) to $1.2 billion due to:

▪$104 million at Parent and other from higher debt balances from debt issuances offset by higher capitalization of interest expense in 2025 from projects under construction at Sempra Infrastructure

▪$87 million at Sempra Infrastructure primarily from $60 million in unrealized losses in 2025 on interest rate swaps related to the PA LNG Phase 1 project and higher interest expense related to a customer’s