Company: SREA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001032208-25-000012
Chunk: 411

Company: SEMPRA
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 411
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, we fully impaired our remaining equity method investment in RBS Sempra Commodities LLP. In 2023, we reduced our previously recorded estimate of losses by $40 million based on a settlement that fully resolved legal matters that we discuss in “Legal Proceedings – Other Sempra” in Note 15. In 2024, we substantially completed the dissolution of the partnership, at which time we recorded $19 million ($16 million after tax) in Equity Earnings on Sempra’s Consolidated Statement of Operations. 

2024 Form 10-K  |  F-64

SUMMARIZED FINANCIAL INFORMATIONWe present summarized financial information below, aggregated for all other equity method investments (excluding Oncor Holdings and RBS Sempra Commodities LLP) for the periods in which we were invested in the entities. The amounts below represent the results of operations and aggregate financial position of 100% of each of Sempra’s other equity method investments.SUMMARIZED FINANCIAL INFORMATION – OTHER EQUITY METHOD INVESTMENTS(Dollars in millions) Years ended December 31, 202420232022Gross revenues$2,962 $3,083 $2,959 Operating expenses(820)(776)(772)Income from operations2,142 2,307 2,187 Interest expense(547)(570)(505)Net income/Earnings(1)(2)1,688 1,499 1,537  December 31, 20242023Current assets$1,134 $1,216 Noncurrent assets14,687 14,826 Current liabilities1,130 1,255 Noncurrent liabilities10,051 10,786 (1)    Except for our investments in Mexico, there was no income tax recorded by the entities, as they are primarily domestic partnerships.(2)    Amounts for Cameron LNG JV exclude adjustments to equity earnings related to amortization of capitalized interest and guarantee fees within the carrying value of our equity method investment and changes in basis differences in equity earnings related to AOCI.

NOTE 6. DEBT AND CREDIT FACILITIES

SHORT-TERM DEBTCommitted Lines of CreditAt December 31, 2024, Sempra had an aggregate capacity of $9.9 billion under seven primary committed lines of credit, which provide liquidity and support our commercial paper programs. Because our commercial paper programs are supported by some of these lines of credit, we reflect the amount of commercial paper