Company: SREA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001032208-25-000027
Chunk: 37

Company: SEMPRA
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 37
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4, Sempra contributed $486 million and $193 million, respectively, to Oncor Holdings, and Oncor Holdings distributed $142 million and $100 million, respectively, to Sempra. On May 2, 2025, Sempra contributed $486 million to Oncor Holdings, and on May 1, 2025, Oncor Holdings distributed $142 million to Sempra.

We provide summarized income statement information for Oncor Holdings in the following table.SUMMARIZED FINANCIAL INFORMATION – ONCOR HOLDINGS(Dollars in millions) Three months endedMarch 31,20252024Operating revenues$1,548 $1,458 Operating expenses(1,157)(1,051)Income from operations391 407 Interest expense(185)(150)Income tax expense(40)(49)Net income179 223 NCI held by Texas Transmission Investment LLC(36)(44)Earnings attributable to Sempra(1)143 179 (1)    Excludes adjustments to equity earnings related to amortization of a tax sharing liability associated with a tax sharing agreement and changes in basis differences in AOCI within the carrying value of our equity method investment. 

CAMERON LNG JVIn the three months ended March 31, 2025 and 2024, Cameron LNG JV distributed $149 million and $132 million, respectively, to Sempra Infrastructure.

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TAG NORTEIn the three months ended March 31, 2025 and 2024, TAG Norte distributed $45 million and $62 million, respectively, to Sempra Infrastructure.

NOTE 6. SEMPRA – POTENTIAL DIVESTITURES

SEMPRA INFRASTRUCTUREOn March 28, 2025, we determined to move forward with a process to sell (i) Ecogas, a natural gas regulated distribution utility that operates in three separate distribution zones in Mexicali, Chihuahua and La Laguna-Durango, Mexico, and (ii) a portion of our 70% interest in SI Partners equal to between 15% and 30% of SI Partners’ total outstanding interests (the Minority Interest Sale). SI Partners owns non-U.S.-utility energy infrastructure assets, including LNG and natural gas infrastructure in the U.S. and Mexico and renewable energy, liquid petroleum gas and refined products infrastructure in Mexico.On March 28, 2025, we issued a notice to SI Partners’ minority partners, KKR Pinnacle and