Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 89

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 89
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 total decommissioning cost. In accordance with state and federal requirements and regulations, SDG&E has assets held in the NDT to fund its share of decommissioning costs for SONGS Units 1, 2 and 3. Amounts that were collected in rates for SONGS’ decommissioning are invested in the NDT, which is comprised of externally managed trust funds. Amounts held by the NDT are invested in accordance with CPUC regulations. SDG&E classifies debt and equity securities held in the NDT as available-for-sale. The NDT assets are presented on the Sempra and SDG&E Condensed Consolidated Balance Sheets at fair value with the offsetting credits recorded in noncurrent Regulatory Liabilities.Except for the use of funds for the planning of decommissioning activities or NDT administrative costs, CPUC approval is required for SDG&E to access the NDT assets to fund SONGS decommissioning costs for Units 2 and 3. In January 2025, the CPUC granted SDG&E authorization to access NDT funds of up to $66 million for forecasted 2025 costs.

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Nuclear Decommissioning TrustsThe following table shows the fair values and gross unrealized gains and losses for the securities held in the NDT on the Sempra and SDG&E Condensed Consolidated Balance Sheets. We provide additional fair value disclosures for the NDT in Note 9.NUCLEAR DECOMMISSIONING TRUSTS(Dollars in millions) CostGrossunrealizedgainsGrossunrealizedlossesEstimatedfairvalueSeptember 30, 2025Short-term investments, primarily cash equivalents$21 $— $— $21 Equity securities69 225 (2)292 Debt securities:    Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies(1)53 1 — 54 Municipal bonds(2)299 3 (6)296 Other securities(3)252 5 (3)254 Total debt securities604 9 (9)604 Receivables (payables), net(20)— — (20)Total$674 $234 $(11)$897 December 31, 2024Short-term investments, primarily cash equivalents$10 $— $— $10 Equity securities78 223 (3