Company: SREA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001032208-25-000012
Chunk: 430

Company: SEMPRA
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 430
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 jurisdictions, the negative evidence outweighs the positive evidence primarily due to cumulative pretax losses resulting in deferred income tax assets that we currently do not believe will be realized on a more-likely-than-not basis. The following table provides the valuation allowances that we recorded against a portion of our total deferred income tax assets shown above in the “Deferred Income Taxes – Sempra” table.VALUATION ALLOWANCES BY JURISDICTION(Dollars in millions)December 31,20242023Sempra:U.S. federal$406 $108 U.S. state47 51 Non-U.S. 50 30 $503 $189 

2024 Form 10-K  |  F-79

Following is a reconciliation of the changes in unrecognized income tax benefits and the potential effect on our ETR for the years ended December 31:RECONCILIATION OF UNRECOGNIZED INCOME TAX BENEFITS(Dollars in millions) 202420232022Sempra:Balance at January 1$492 $278 $304 Increase in prior period tax positions40 308 16 Decrease in prior period tax positions(8)(63)(2)Decrease in current period tax positions— (21)— Settlements with tax authorities(15)(16)(43)Expiration of statutes of limitations— — (1)Increase in current period tax positions39 6 4 Balance at December 31$548 $492 $278 Of December 31 balance, amounts related to tax positions that if recognizedin future years woulddecrease the effective tax rate(1)$(229)$(224)$(117)increase the effective tax rate(1)1 1 38 SDG&E:Balance at January 1$14 $14 $14 Increase in prior period tax positions— 2 — Settlements with tax authorities— (2)— Balance at December 31$14 $14 $14 Of December 31 balance, amounts related to tax positions that if recognizedin future years woulddecrease the effective tax rate(1)$(11)$(11)$(11)increase the effective tax rate(1)1 1 1 SoCalGas:Balance at January 1$29 $77 $72 Increase in prior period tax positions— 1 1 Decrease in prior period tax positions— (47)— Increase in