Company: SREA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001032208-25-000012
Chunk: 439

Company: SEMPRA
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 439
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944 Accumulated benefit obligation1,787 1,771 Fair value of plan assets1,937 1,744 We also have unfunded pension plans at Sempra, SDG&E, SoCalGas and IEnova. The following table shows the obligations of unfunded pension plans.OBLIGATIONS OF UNFUNDED PENSION PLANS(Dollars in millions)December 31, 20242023Sempra:  Projected benefit obligation$183 $182 Accumulated benefit obligation159 153 SDG&E: Projected benefit obligation$29 $26 Accumulated benefit obligation26 23 SoCalGas:  Projected benefit obligation$40 $33 Accumulated benefit obligation37 28 Sempra, SDG&E and SoCalGas each have a funded PBOP plan. At December 31, 2024, Sempra’s, SDG&E’s and SoCalGas’ plan assets were each in excess of their respective obligations for funded PBOP plans with accumulated postretirement benefit obligations. We also have unfunded PBOP plans at Sempra. The following table shows the obligations of unfunded PBOP plans.OBLIGATIONS OF UNFUNDED PBOP PLANS(Dollars in millions)December 31, 20242023Sempra:  Accumulated postretirement benefit obligation$9 $9 

2024 Form 10-K  |  F-86

Net Periodic Benefit CostThe following tables provide the components of net periodic benefit cost (which, other than the service cost component, are included in Other Income, Net) and pretax amounts recognized in OCI.NET PERIODIC BENEFIT COST AND AMOUNTS RECOGNIZED IN OCI(Dollars in millions) PensionPBOPYears ended December 31, 202420232022202420232022Sempra:NET PERIODIC BENEFIT COST      Service cost$132 $109 $146 $15 $13 $23 Interest cost166 157 118 36 37 28 Expected return on plan assets(178)(169)(183)(70)(69)(64)Amortization of:    Prior service cost (credit)5 5 10 (2)(2)(2)Actuarial loss (gain)14 10 25 (17)(23)(15)Settlement charges 9 — 28 —