Company: SREA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001032208-25-000027
Chunk: 159

Company: SEMPRA
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 159
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 and participation in the energy sector and may create novel challenges for infrastructure development and operations. Like the LIE and LH, the ESL and HSL give Mexican authorities broad discretion to revoke or suspend permits under certain circumstances.

Although the extent of the impact of the 2025 Energy Laws is uncertain, these laws and future implementation of regulations could adversely affect Sempra Infrastructure’s ability to operate its existing assets at their current levels, result in increased costs to Sempra Infrastructure and its customers, adversely impact Sempra Infrastructure’s ability to develop new projects in Mexico, result in decreased revenues or cash flows, and negatively impact Sempra Infrastructure’s ability to recover the carrying values of its investments in Mexico, any of which could have a material adverse impact on Sempra’s business, results of operations, financial condition, cash flow and/or prospects.

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Table of Contents

SOURCES AND USES OF CASH

The following tables include only significant changes in cash flow activities for each of the Registrants.

CASH FLOWS FROM OPERATING ACTIVITIES(Dollars in millions)Three months ended March 31,SempraSDG&ESoCalGas2025$1,482 $578 $779 20241,851 676 887 Change$(369)$(98)$(108)Change in regulatory accounts, current and noncurrent$(437)$(412)Change in accounts receivable(203)$(103)(88)Change in net margin posted, current and noncurrent(78)Change in deferred excess capacity sales(69)(69)Change in accounts payable(62)(104)(Lower) higher net income, adjusted for noncash items included in earnings(29)62 Higher distributions from Oncor Holdings42 Higher accruals in interest payable86 Change in ad valorem taxes87 78 Change in GHG obligations, current and noncurrent117 133 Change in fixed-price contracts and other derivatives, current and noncurrent151 168 Change in GHG allowances, current and noncurrent27 Increase in income taxes payable, net70 Other26 12 20 $(369)$(98)$(108)

CASH FLOWS FROM INVESTING ACTIVITIES(Dollars in millions)Three months ended March 31,Sempra SDG&ESoCalGas2025$(2,785)$(523)$(555)2024(2,107)(611)(519)Change$(678)$88 $(36)(Increase) decrease in capital expenditures$(