Company: SREA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001032208-25-000027
Chunk: 214

Company: SEMPRA
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 214
---

FINANCIAL STATEMENT PRESENTATIONThe Condensed Consolidated Balance Sheets reflect the offsetting of net derivative positions and cash collateral with the same counterparty when a legal right of offset exists. The following tables provide the fair values of derivative instruments on the Condensed Consolidated Balance Sheets, including the amount of cash collateral receivables that were not offset because the cash collateral was in excess of liability positions. We discuss the fair value of derivative assets and liabilities in Note 9.DERIVATIVE INSTRUMENTS ON THE CONDENSED CONSOLIDATED BALANCE SHEETS(Dollars in millions) March 31, 2025 Current assets: Fixed-price contracts and other derivatives(1)Other long-term assetsOther currentliabilitiesDeferred credits and otherSempra:    Derivatives designated as hedging instruments:    Interest rate instruments$6 $24 $— $— Foreign exchange instruments1 — (1)— Derivatives not designated as hedging instruments:    Interest rate instruments11 179 — — Commodity contracts not subject to rate recovery16 17 (26)(39)Associated offsetting commodity contracts(12)(16)12 16 Commodity contracts subject to rate recovery14 4 (41)(17)Associated offsetting commodity contracts(12)(2)12 2 Associated offsetting cash collateral— — 4 5 Net amounts presented on the balance sheet24 206 (40)(33)Additional cash collateral for commodity contractsnot subject to rate recovery87 — — — Additional cash collateral for commodity contractssubject to rate recovery25 — — — Total$136 $206 $(40)$(33)SDG&E:    Derivatives not designated as hedging instruments:    Commodity contracts subject to rate recovery$9 $4 $(12)$(7)Associated offsetting commodity contracts(7)(2)7 2 Associated offsetting cash collateral— — 4 5 Net amounts presented on the balance sheet2 2 (1)— Additional cash collateral for commodity contractssubject to rate recovery23 — — — Total$25 $2 $(1)$— SoCalGas:    Derivatives not designated as hedging instruments:    Commodity contracts subject to rate recovery$5 $— $(29)$(10)