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DEBT AND CREDIT FACILITIES (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Line of Credit Facilities |
COMMITTED LINES OF CREDIT
(Dollars in millions)
|  |  | December 31, 2023
Borrower | Expiration date of facility |  | Total facility |  | Commercial paper outstanding |  | Amounts outstanding |  | Letters of credit outstanding |  | Available unused credit
Sempra | October 2028 |  | $ | 4,000 |  |  | $ | (366) |  |  | $ | — |  |  | $ | — |  |  | $ | 3,634 |
SDG&E | October 2028 |  | 1,500 |  |  | — |  |  | — |  |  | — |  |  | 1,500 |
SoCalGas | October 2028 |  | 1,200 |  |  | (947) |  |  | — |  |  | — |  |  | 253 |
SI Partners and IEnova | September 2025 |  | 500 |  |  | — |  |  | (425) |  |  | — |  |  | 75 |
SI Partners and IEnova | August 2026 |  | 1,000 |  |  | — |  |  | — |  |  | — |  |  | 1,000 |
SI Partners and IEnova | August 2028 |  | 1,500 |  |  | — |  |  | (546) |  |  | — |  |  | 954 |
Port Arthur LNG | March 2030 |  | 200 |  |  | — |  |  | — |  |  | (25) |  |  | 175 |
Total |  | $ | 9,900 |  |  | $ | (1,313) |  |  | $ | (971) |  |  | $ | (25) |  |  | $ | 7,591 |
UNCOMMITTED LETTERS OF CREDIT OUTSTANDING
(Dollars in millions)
| Expiration date range |  | December 31, 2023
SDG&E | January 2024 - November 2024 |  | $ | 25 |
SoCalGas | March 2024 - November 2024 |  | 20 |
Other Sempra | January 2024 - October 2043 |  | 468 |
Total Sempra |  | $ | 513 |
The weighted-average interest rates on all short-term debt were as follows:
WEIGHTED-AVERAGE INTEREST RATES
| December 31,
| 2023 |  | 2022
Sempra | 5.96 | % |  | 5.57 | %
SDG&E | — |  |  | 4.76 |
SoCalGas | 5.44 |  |  | 4.71 |
Schedule Of Long-term Debt | The following tables show the detail and maturities of long-term debt outstanding.
LONG-TERM DEBT AND FINANCE LEASES |  |  |
(Dollars in millions) |  |  |
| December 31,
| 2023 |  | 2022
SDG&E: |  |  |
First mortgage bonds (collateralized by plant assets): |  |  |
3.6% September 1, 2023 | $ | — |  |  | $ | 450 |
2.5% May 15, 2026 | 500 |  |  | 500 |
6% June 1, 2026 | 250 |  |  | 250 |
4.95% August 15, 2028 | 600 |  |  | — |
1.7% October 1, 2030 | 800 |  |  | 800 |
3% March 15, 2032 | 500 |  |  | 500 |
5.35% May 15, 2035 | 250 |  |  | 250 |
6.125% September 15, 2037 | 250 |  |  | 250 |
6% June 1, 2039 | 300 |  |  | 300 |
5.35% May 15, 2040 | 250 |  |  | 250 |
4.5% August 15, 2040 | 500 |  |  | 500 |
3.95% November 15, 2041 | 250 |  |  | 250 |
4.3% April 1, 2042 | 250 |  |  | 250 |
3.75% June 1, 2047 | 400 |  |  | 400 |
4.15% May 15, 2048 | 400 |  |  | 400 |
4.1% June 15, 2049 | 400 |  |  | 400 |
3.32% April 15, 2050 | 400 |  |  | 400 |
2.95% August 15, 2051 | 750 |  |  | 750 |
3.7% March 15, 2052 | 500 |  |  | 500 |
5.35% April 1, 2053 | 800 |  |  | — |
| 8,350 |  |  | 7,400 |
Other long-term debt (uncollateralized): |  |  |
Notes at variable rates (5.99% at December 31, 2023) February 18, 2024(1) | 400 |  |  | 400 |
Finance lease obligations: |  |  |
Power purchase agreements | 1,166 |  |  | 1,194 |
Other | 67 |  |  | 62 |
| 1,633 |  |  | 1,656 |
| 9,983 |  |  | 9,056 |
Current portion of long-term debt and finance leases | (441) |  |  | (489) |
Unamortized discount on long-term debt | (29) |  |  | (20) |
Unamortized debt issuance costs | (60) |  |  | (50) |
Total SDG&E | $ | 9,453 |  |  | $ | 8,497 |
(1) Callable long-term debt not subject to make-whole provisions.
LONG-TERM DEBT AND FINANCE LEASES (CONTINUED) |  |  |
(Dollars in millions) |  |  |
| December 31,
| 2023 |  | 2022
SoCalGas: |  |  |
First mortgage bonds (collateralized by plant assets): |  |  |
3.15% September 15, 2024 | $ | 500 |  |  | $ | 500 |
3.2% June 15, 2025 | 350 |  |  | 350 |
2.6% June 15, 2026 | 500 |  |  | 500 |
2.55% February 1, 2030 | 650 |  |  | 650 |
5.20% June 1, 2033 | 500 |  |  | — |
5.75% November 15, 2035 | 250 |  |  | 250 |
5.125% November 15, 2040 | 300 |  |  | 300 |
3.75% September 15, 2042 | 350 |  |  | 350 |
4.45% March 15, 2044 | 250 |  |  | 250 |
4.125% June 1, 2048 | 400 |  |  | 400 |
4.3% January 15, 2049 | 550 |  |  | 550 |
3.95% February 15, 2050 | 350 |  |  | 350 |
6.35% November 15, 2052 | 600 |  |  | 600 |
5.75% June 1, 2053 | 500 |  |  | — |
| 6,050 |  |  | 5,050 |
Other long-term debt (uncollateralized): |  |  |
Notes at variable rates (5.10% at December 31, 2022) September 14, 2023(1) | — |  |  | 300 |
1.875% Notes May 14, 2026(1) | 4 |  |  | 4 |
2.95% Notes April 15, 2027 | 700 |  |  | 700 |
5.67% Notes January 18, 2028(2) | 5 |  |  | 5 |
Finance lease obligations | 107 |  |  | 87 |
| 816 |  |  | 1,096 |
| 6,866 |  |  | 6,146 |
Current portion of long-term debt and finance leases | (523) |  |  | (318) |
Unamortized discount on long-term debt | (13) |  |  | (12) |
Unamortized debt issuance costs | (42) |  |  | (36) |
Total SoCalGas | $ | 6,288 |  |  | $ | 5,780 |
(1) Callable long-term debt not subject to make-whole provisions. (2) Debt is not callable.
LONG-TERM DEBT AND FINANCE LEASES (CONTINUED) |  |  |
(Dollars in millions) |  |  |
| December 31,
| 2023 |  | 2022
Other Sempra: |  |  |
Sempra - Other long-term debt (uncollateralized): |  |  |
3.3% Notes April 1, 2025 | $ | 750 |  |  | $ | 750 |
5.40% Notes August 1, 2026 | 550 |  |  | — |
3.25% Notes June 15, 2027 | 750 |  |  | 750 |
3.4% Notes February 1, 2028 | 1,000 |  |  | 1,000 |
3.7% Notes April 1, 2029 | 500 |  |  | 500 |
5.50% Notes August 1, 2033 | 700 |  |  | — |
3.8% Notes February 1, 2038 | 1,000 |  |  | 1,000 |
6% Notes October 15, 2039 | 750 |  |  | 750 |
4% Notes February 1, 2048 | 800 |  |  | 800 |
4.125% Junior Subordinated Notes April 1, 2052(1) | 1,000 |  |  | 1,000 |
5.75% Junior Subordinated Notes July 1, 2079(1) | 758 |  |  | 758 |
| 8,558 |  |  | 7,308 |
Sempra Infrastructure - Other long-term debt (uncollateralized unless otherwise noted): |  |  |
6.3% Notes (4.12% after cross-currency swap effective 2013) February 2, 2023 | — |  |  | 201 |
Loan at variable rates (8.31% at December 31, 2023) December 9, 2025 | 832 |  |  | 575 |
3.75% Notes January 14, 2028 | 300 |  |  | 300 |
Loan including $200 at variable rates (5.33% after floating-to-fixed rate swaps effective 2023) and $58 at variable rates (weighted-average rate of 7.37% at December 31, 2023) March 20, 2030, collateralized by plant assets(1) | 258 |  |  | — |
3.25% Notes January 15, 2032 | 400 |  |  | 400 |
Loan at variable rates (4.03% after floating-to-fixed rate swap effective 2019) payable June 15, 2022 through November 19, 2034(1) | 96 |  |  | 98 |
Loan at variable rates (4.03% after floating-to-fixed rate swap effective 2019) payable June 15, 2022 through November 19, 2034(1) | 96 |  |  | 98 |
Loan at variable rates (2.38% after floating-to-fixed rate swap effective 2020) payable June 15, 2022 through November 19, 2034(1) | 96 |  |  | 98 |
2.9% Loan payable June 15, 2022 through November 19, 2034(1) | 231 |  |  | 236 |
4.875% Notes January 14, 2048 | 540 |  |  | 540 |
4.75% Notes January 15, 2051 | 800 |  |  | 800 |
| 3,649 |  |  | 3,346 |
| 12,207 |  |  | 10,654 |
Current portion of long-term debt | (11) |  |  | (212) |
Unamortized discount on long-term debt | (66) |  |  | (62) |
Unamortized debt issuance costs | (112) |  |  | (109) |
Total Other Sempra | 12,018 |  |  | 10,271 |
Total Sempra | $ | 27,759 |  |  | $ | 24,548 |
(1) Callable long-term debt not subject to make-whole provisions. The following table shows the detail and maturities of uncollateralized long-term debt outstanding.
LONG-TERM DEBT
(Dollars in millions)
| December 31,
| 2023 |  | 2022
3.3% Notes April 1, 2025 | $ | 750 |  |  | $ | 750 |
5.40% Notes August 1, 2026 | 550 |  |  | — |
3.25% Notes June 15, 2027 | 750 |  |  | 750 |
3.4% Notes February 1, 2028 | 1,000 |  |  | 1,000 |
3.7% Notes April 1, 2029 | 500 |  |  | 500 |
5.50% Notes August 1, 2033 | 700 |  |  | — |
3.8% Notes February 1, 2038 | 1,000 |  |  | 1,000 |
6% Notes October 15, 2039 | 750 |  |  | 750 |
4% Notes February 1, 2048 | 800 |  |  | 800 |
4.125% Junior Subordinated Notes April 1, 2052(1) | 1,000 |  |  | 1,000 |
5.75% Junior Subordinated Notes July 1, 2079(1) | 758 |  |  | 758 |
| 8,558 |  |  | 7,308 |
Unamortized discount on long-term debt | (29) |  |  | (28) |
Unamortized debt issuance costs | (68) |  |  | (65) |
Total long-term debt | $ | 8,461 |  |  | $ | 7,215 |
(1) Callable long-term debt not subject to make-whole provisions.
Schedule of Maturities of Long-term Debt | At December 31, 2023, scheduled maturities of long-term debt are as follows:
MATURITIES OF LONG-TERM DEBT(1)
(Dollars in millions)
| SDG&E |  | SoCalGas |  | Other Sempra |  | Total Sempra
2024 | $ | 400 |  |  | $ | 500 |  |  | $ | 11 |  |  | $ | 911 |
2025 | — |  |  | 350 |  |  | 1,651 |  |  | 2,001 |
2026 | 750 |  |  | 504 |  |  | 600 |  |  | 1,854 |
2027 | — |  |  | 700 |  |  | 799 |  |  | 1,499 |
2028 | 600 |  |  | 5 |  |  | 1,349 |  |  | 1,954 |
Thereafter | 7,000 |  |  | 4,700 |  |  | 7,797 |  |  | 19,497 |
Total | $ | 8,750 |  |  | $ | 6,759 |  |  | $ | 12,207 |  |  | $ | 27,716 |
(1) Excludes finance lease obligations, discounts, and debt issuance costs.
Schedule Of Callable Long Term Debt | At the option of Sempra, SDG&E and SoCalGas, certain debt at December 31, 2023 is callable subject to premiums:
CALLABLE LONG-TERM DEBT
(Dollars in millions)
| SDG&E |  | SoCalGas |  | Other Sempra |  | Total Sempra
Not subject to make-whole provisions | $ | 400 |  |  | $ | 4 |  |  | $ | 2,535 |  |  | $ | 2,939 |
Subject to make-whole provisions | 8,350 |  |  | 6,750 |  |  | 9,672 |  |  | 24,772 |

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