Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 284

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 284
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 due to unconsolidated affiliates on the Condensed Consolidated Balance Sheets, when right of offset exists.(3)     In January 2024, the CPUC directed SDG&E and SoCalGas to offer long-term repayment plans to eligible residential customers with past-due balances.

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NOTE 4. REGULATORY MATTERS

REGULATORY ASSETS AND LIABILITIESWe discuss regulatory matters in Note 4 of the Notes to Consolidated Financial Statements in the Annual Report and provide updates to those discussions and information about new regulatory matters below. With the exception of regulatory balancing accounts, we generally do not earn a return on our regulatory assets until a related cash expenditure has been made. Upon the occurrence of a cash expenditure associated with a regulatory asset, the related amounts are recoverable through a regulatory account mechanism for which we earn a return authorized by applicable regulators, which generally approximates the three-month commercial paper rate. The periods during which we recognize a regulatory asset while we do not earn a return vary by regulatory asset.REGULATORY ASSETS (LIABILITIES)(Dollars in millions)SempraSDG&ESoCalGasSeptember 30,2025December 31,2024September 30,2025December 31,2024September 30,2025December 31,2024Fixed-price contracts and otherderivatives$71 $53 $6 $11 $65 $42 Deferred income taxes recoverable in rates(1)2,181 1,689 1,071 802 1,086 817 Pension and PBOP plan obligations(462)(458)17 (2)(479)(456)Employee benefit costs19 19 3 3 16 16 Removal obligations(3,466)(3,295)(2,856)(2,676)(610)(619)Environmental costs149 149 114 115 35 34 Sunrise Powerlink fire mitigation124 124 124 124 — — Regulatory balancing accounts(2):Commodity – electric108 (313)108 (313)— — Commodity – gas, including transportation32 (47)(2)86 34 (133)Safety and reliability885 820 296 227 589 593 Public purpose programs(402)(439)(160)(219)(242)(220)2024 GRC retroactive impacts420 631 177 277 243 354