Company: SREA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001032208-25-000012
Chunk: 362

Company: SEMPRA
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 362
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2023, respectively, consisting primarily of PP&E, net, attributable to Port Arthur LNG that could be used only to settle obligations of this VIE and that are not available to settle obligations of Sempra, and $1,584 million and $600 million of liabilities at December 31, 2024 and 2023, respectively, consisting primarily of long-term debt and accounts payable attributable to Port Arthur LNG for which creditors do not have recourse to the general credit of Sempra.

2024 Form 10-K  |  F-30

CASH, CASH EQUIVALENTS AND RESTRICTED CASHCash equivalents are highly liquid investments with original maturities of three months or less at the date of purchase.Restricted cash includes: ▪certain funds at Port Arthur LNG for which withdrawals and usage are dictated by its debt agreements▪funds held as collateral in lieu of a customer’s letters of credit associated with its LNG storage and regasification agreement▪funds denominated in U.S. dollars and Mexican pesos to pay for rights-of-way and other costs pursuant to trust agreements related to pipeline projects ▪funds held in a delisting trust for the purpose of purchasing the remaining publicly owned IEnova sharesThe following table provides a reconciliation of cash, cash equivalents and restricted cash reported on Sempra’s Consolidated Balance Sheets to the sum of such amounts reported on Sempra’s Consolidated Statements of Cash Flows.RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH(Dollars in millions)December 31, 20242023Sempra:Cash and cash equivalents$1,565 $236 Restricted cash, current21 49 Restricted cash, noncurrent3 104 Total cash, cash equivalents and restricted cash on the Consolidated Statements of Cash Flows$1,589 $389 

CREDIT LOSSESWe are exposed to credit losses from financial assets measured at amortized cost, including trade and other accounts receivable, amounts due from unconsolidated affiliates, our net investment in sales-type leases and a note receivable. We are also exposed to credit losses from off-balance sheet arrangements through Sempra’s guarantee related to Cameron LNG JV’s SDSRA, which we discuss in Note 5.We regularly monitor and evaluate credit losses and record allowances for expected credit losses, if necessary, for trade and other accounts receivable using a combination of factors, including past-due status based on contractual terms,