Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 66

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 66
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 derivative volumes.NET ENERGY DERIVATIVE VOLUMES(Quantities in millions)CommodityUnit of measureSeptember 30, 2025December 31, 2024Sempra:Natural gasMMBtu1,405 637 Congestion revenue rightsMWh20 27 SDG&E:Natural gasMMBtu17 16 Congestion revenue rightsMWh20 27 SoCalGas:Natural gasMMBtu415 347 

65

INTEREST RATE DERIVATIVESWe are exposed to interest rates primarily as a result of our current and expected use of financing. SDG&E and SoCalGas, as well as Sempra and its other subsidiaries and equity method investees, periodically enter into interest rate derivative agreements intended to moderate our exposure to interest rates and to lower our overall costs of borrowing. In addition, we may utilize interest rate swaps, typically designated as cash flow hedges, to lock in interest rates on outstanding debt or in anticipation of future financings.The following table presents the notional amounts of our interest rate derivatives, excluding those in our equity method investments. INTEREST RATE DERIVATIVES(Dollars in millions) September 30, 2025December 31, 2024 Notional amountMaturitiesNotional amountMaturitiesSempra:    Cash flow hedges$258 2025-2034$271 2025-2034Undesignated derivatives(1)3,189 2025-20483,189 2025-2048(1)    At September 30, 2025 and December 31, 2024, undesignated derivatives accrued interest based on a notional amount of $1,876 and $1,598, respectively. FOREIGN CURRENCY DERIVATIVESFrom time to time, Sempra Infrastructure and its equity method investees may use foreign currency derivatives to hedge exposures related to cash flows associated with revenues from contracts denominated in Mexican pesos that are indexed to the U.S. dollar. Oncor uses cross-currency swaps designated as fair value hedges intended to offset foreign currency exchange rate risk related to its Euro and Canadian dollar denominated debt.We are also exposed to exchange rate movements at our Mexican subsidiaries and equity method investees, which have U.S. dollar-denominated cash balances, receivables, payables and debt (monetary assets and liabilities) that give rise to Mexican currency exchange rate movements for Mexican income tax purposes. They also have deferred income tax