Company: SREA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001032208-25-000027
Chunk: 262

Company: SEMPRA
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 262
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 uncommitted line of credit expiring in 2026.

AVAILABLE FUNDS AT MARCH 31, 2025(Dollars in millions) SempraSDG&ESoCalGasUnrestricted cash and cash equivalents(1)$1,739 $607 $40 Available unused credit(2)8,500 1,363 1,053 

(1)    Amounts at Sempra include $112 held in non-U.S. jurisdictions. We discuss repatriation in Note 7 of the Notes to Consolidated Financial Statements in the Annual Report.

(2)    Available unused credit is the total available on committed and uncommitted lines of credit that we discuss in Note 7 of the Notes to Condensed Consolidated Financial Statements. Because our commercial paper programs are supported by these lines, we reflect the amount of commercial paper outstanding and any letters of credit outstanding as a reduction to the available unused credit.

Short-Term Borrowings

We use short-term debt primarily to meet liquidity requirements, fund shareholder dividends, and temporarily finance capital expenditures or acquisitions. SDG&E and SoCalGas use short-term debt primarily to meet working capital needs or to help fund event-specific costs. Commercial paper and lines of credit were our primary sources of short-term debt funding in the first three months of 2025.

We discuss our short-term debt activities in Note 7 of the Notes to Condensed Consolidated Financial Statements and below in “Sources and Uses of Cash.”

Long-Term Debt Activities

Significant issuances of and payments on long-term debt in the first three months of 2025 included the following:

LONG-TERM DEBT ISSUANCES AND PAYMENTS(Dollars in millions)Issuances:Amount at issuanceMaturitySDG&E 5.40% first mortgage bonds$850 2035Sempra Infrastructure variable rate notes (ECA LNG Phase 1 project)54 2025Sempra Infrastructure variable rate notes (PA LNG Phase 1 project)881 2030Sempra Infrastructure 6.27% senior secured notes (PA LNG Phase 1 project)750 2042Payments:PaymentsMaturitySempra Infrastructure variable rate notes (PA LNG Phase 1 project)$737 2030

We discuss our long-term debt activities, including the use of proceeds on long-term debt issuances, in Note 7 of the Notes to Condensed Consolidated Financial Statements.

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