Company: SREA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001032208-25-000048
Chunk: 295

Company: SEMPRA
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 295
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 performance and allocate resources.Total assets at SoCalGas were $26.1 billion and $25.4 billion at June 30, 2025 and December 31, 2024, respectively. The following table presents selected information for SoCalGas’ single segment and reconciliation of earnings attributable to common shares.SEGMENT INFORMATION(Dollars in millions)Three months ended June 30,Six months ended June 30,2025202420252024SoCalGas:Natural gas:Revenues from external customers(1)$1,421 $1,246 $3,489 $3,306 Regulatory revenues(2)(153)63 (201)(192)Total revenues1,268 1,309 3,288 3,114 Depreciation and amortization(251)(224)(493)(447)Interest income1 2 3 4 Interest expense(89)(78)(179)(155)Income tax expense(6)(10)(44)(53)Other segment items(3)(839)(869)(2,048)(1,974)Earnings attributable to common shares$84 $130 $527 $489 Capital expenditures for property, plant and equipment$1,045 $978 (1)    SoCalGas did not have revenues from transactions with a single external customer that amounted to 10% or more of its total revenues.(2)    See “Revenues from Sources Other Than Contracts with Customers” in Note 3 of the Notes to Consolidated Financial Statements in the Annual Report for a description of this revenue source, which may be additive or subtractive from period to period.

(3)    Includes cost of natural gas, O&M, franchise fees and other taxes, other income (expense), net, and preferred dividends.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

PageOverview88Results of Operations by Registrant89Sempra89SDG&E101SoCalGas104Capital Resources and Liquidity107Critical Accounting Estimates122New Accounting Standards122

OVERVIEW

This combined MD&A includes the operational and financial results of the following three Registrants: 

▪Sempra is a California-based holding company with energy infrastructure investments in North America. Our businesses invest in, develop and operate energy infrastructure, and provide electric and gas services to customers.

▪SDG&E is a regulated public utility that provides electric service to San Diego and southern Orange