Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 67

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 67
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 assets and liabilities denominated in the Mexican peso, which must be translated to U.S. dollars for financial reporting purposes. In addition, monetary assets and liabilities and certain nonmonetary assets and liabilities are adjusted for Mexican inflation for Mexican income tax purposes. We may utilize foreign currency derivatives as a means to manage the risk of exposure to significant fluctuations in our income tax expense and equity earnings from these impacts; however, we generally do not hedge our deferred income tax assets and liabilities or for inflation.The following table presents the notional amounts of our foreign currency derivatives, excluding those in our equity method investments.FOREIGN CURRENCY DERIVATIVES(Dollars in millions) September 30, 2025December 31, 2024 Notional amountMaturitiesNotional amountMaturitiesSempra:    Foreign currency derivatives$158 2025-2027$162 2025-2026

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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) September 30, 2025Current assetsCurrent liabilities Fixed-price contracts and other derivatives(1)Assets held for saleOther long-term assetsOther currentliabilitiesLiabilities held for saleDeferred credits and otherSempra:    Derivatives designated as hedging instruments:    Interest rate instruments$25 $— Foreign exchange instruments— (5) Derivatives not designated as hedging instruments:    Interest rate instruments189 — Commodity contracts not subject to rate recovery24 (63)Associated offsetting commodity contracts(5)5 Commodity contracts subject to rate recovery$6 $11 $(127)$(13)Associated offsetting commodity contracts(3)(4)3 4 Associated offsetting cash collateral— — 52 3 Net amounts presented on the balance sheet3 233 7 (72)(63)(6)Additional cash collateral for commodity contractsnot subject to rate recovery— 60 —