Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 41

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 41
---
U 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted, and entities may adopt the standard on either a prospective or retrospective basis. We intend to adopt the standard on January 1, 2027 on a prospective basis.ASU 2025-05, “Measurement of Credit Losses for Accounts Receivable and Contract Assets”: ASU 2025-05 amends ASC 326-20 to provide a practical expedient for all entities related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under ASC 606, Revenue from Contracts with Customers. ASU 2025-05 is effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods on a prospective basis. We intend to adopt the standard on January 1, 2026 and expect to elect the practical expedient on a prospective basis for eligible current accounts receivable and contract assets. We do not expect this ASU to have a material impact on our financial statements.

48

NOTE 3. REVENUES

We discuss revenue recognition for revenues from contracts with customers and from sources other than contracts with customers in Note 3 of the Notes to Consolidated Financial Statements in the Annual Report.The following tables disaggregate our revenues from contracts with customers by major service line and market. We also provide a reconciliation to total revenues by segment for Sempra. The majority of our revenue is recognized over time. DISAGGREGATED REVENUES(Dollars in millions)SempraSempra CaliforniaSempra InfrastructureConsolidating adjustments and Parent and otherSempraThree months ended September 30, 2025By major service line:Utilities$2,518 $15 $(5)$2,528 Energy-related businesses— 241 (13)228 Revenues from contracts with customers$2,518 $256 $(18)$2,756 By market:Gas$1,390 $156 $(3)$1,543 Electric1,128 100 (15)1,213 Revenues from contracts with customers$2,518 $256 $(18)$2,756 Revenues from contracts with customers$2,518 $256 $(18)$2,756 Utilities regulatory revenues95 — — 95