Company: SREA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001032208-25-000048
Chunk: 102

Company: SEMPRA
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 102
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 programs, which costs are recovered in revenue

◦$10 million higher non-refundable operating costs

Offset by:

▪$16 million decrease at Parent and other primarily due to lower deferred compensation expense

▪$11 million decrease at Sempra Infrastructure due to:

◦$22 million from lower provisions for expected credit losses

Offset by:

◦$4 million higher development costs and certain non-capitalized expenses from projects under construction 

Other Income, Net

In the three months ended June 30, 2025 compared to the same period in 2024, Sempra’s other income, net, increased by $29 million to $59 million primarily due to: 

▪$20 million higher investment gains on dedicated assets in support of our employee nonqualified benefit plan and deferred compensation plan at Parent and other

▪$8 million higher AFUDC equity primarily at Sempra Infrastructure

▪$3 million higher net interest income on regulatory balancing accounts at Sempra California

Offset by:

▪$7 million reduction in regulatory interest from disallowed regulatory recovery of COVID-19 costs at Sempra California

In the six months ended June 30, 2025 compared to the same period in 2024, Sempra’s other income, net, increased by $21 million (16%) to $150 million primarily due to:

▪$12 million higher AFUDC equity primarily at Sempra Infrastructure

▪$6 million higher net interest income on regulatory balancing accounts at Sempra California

▪$6 million higher investment gains on dedicated assets in support of our employee nonqualified benefit plan and deferred compensation plan at Parent and other 

▪$5 million gains in 2025 from impacts associated with interest rate and foreign exchange instruments and foreign currency transactions driven by other foreign currency transactional effects primarily at Sempra Infrastructure

Offset by:

▪$7 million reduction in regulatory interest from disallowed regulatory recovery of COVID-19 costs at Sempra California

Interest Income

In the six months ended June 30, 2025 compared to the same period in 2024, Sempra’s interest income increased by $18 million to $48 million primarily due to a $14 million change in the fair value of the Support Agreement at Sempra Infrastructure.

Interest Expense

In the three months ended June 30, 2025 compared to the same period in 2024, Sempra’s interest expense increased by $48 million (15%) to $359 million primarily due to: 

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