Company: SREA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001032208-25-000012
Chunk: 398

Company: SEMPRA
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 398
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, including transportation(47)(259)86 52 (133)(311)Safety and reliability820 959 227 207 593 752 Public purpose programs(439)(273)(219)(144)(220)(129)2024 GRC retroactive impacts631 — 277 — 354 — Wildfire mitigation plan808 685 808 685 — — Liability insurance premium(24)113 (15)90 (9)23 Other balancing accounts158 373 (51)(152)209 525 Other regulatory assets (liabilities), net(2)164 (10)87 49 79 (58)Total$39 $(295)$(736)$(994)$707 $614 (1)    At December 31, 2024 and 2023, the noncurrent portion of regulatory balancing accounts – net undercollected for Sempra was $1,731 and $1,913, respectively, for SDG&E was $873 and $950, respectively, and for SoCalGas was $858 and $963, respectively.(2)    Includes regulatory assets earning a return authorized by applicable regulators, which generally approximates the three-month commercial paper rate.Regulatory Assets Not Earning a Return▪Regulatory assets arising from fixed-price contracts and other derivatives are offset by corresponding liabilities arising from purchased power and natural gas commodity and transportation contracts. The regulatory asset is increased/decreased based on changes in the fair market value of the contracts. It is also reduced as payments are made for commodities and services under these contracts. The related amounts are recovered in rates once these contracts are settled, generally within four years.▪Deferred income taxes recoverable/refundable in rates are based on current regulatory ratemaking and income tax laws. SDG&E, SoCalGas and Sempra Infrastructure expect to recover/refund net regulatory assets/liabilities related to deferred income taxes over the lives of the assets, ranging from 5 to 69 years, that give rise to the related accumulated deferred income tax balances. Regulatory assets and liabilities include excess deferred income taxes resulting from statutory income tax rate changes and certain income tax benefits and expenses associated with flow-through items, which we discuss in Note 7. ▪Regulatory assets/liabilities related to pension and PBOP plan obligations are offset by corresponding liabilities/assets. The assets are recovered in rates as the plans are funded.▪The regulatory asset related to employee benefit costs