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SEMPRA - SEGMENT INFORMATION | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
SEMPRA - SEGMENT INFORMATION | SEMPRA – SEGMENT INFORMATION Sempra has three separately managed reportable segments, as follows: ▪Sempra California provides natural gas and electric service to Southern California and part of central California through Sempra’s wholly owned subsidiaries, SDG&E and SoCalGas. ▪Sempra Texas Utilities holds our investment in Oncor Holdings, which owns an 80.25% interest in Oncor, a regulated electric transmission and distribution utility serving customers in the north-central, eastern, western and panhandle regions of Texas; and our indirect 50% interest in Sharyland Holdings L.P., which owns Sharyland Utilities, a regulated electric transmission utility serving customers near the Texas-Mexico border. ▪Sempra Infrastructure includes the operating companies of our subsidiary, SI Partners, as well as a holding company and certain services companies. Sempra Infrastructure develops, builds, operates and invests in energy infrastructure to help enable the energy transition in North American markets and globally. Sempra Infrastructure owns a 70% interest in SI Partners. The cost of common services shared by the business segments is assigned directly or allocated based on various cost factors, depending on the nature of the service provided. Interest income and expense is recorded on intercompany loans. The loan balances and related interest are eliminated in consolidation. The following tables show selected information by segment from our Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Cash Flows and Condensed Consolidated Statements of Operations. Amounts labeled as “All other” in the following tables consist primarily of activities of parent organizations.
SEGMENT INFORMATION |  |  |
(Dollars in millions) |  |  |
| June 30, 2024 |  | December 31, 2023
ASSETS |  |  |
Sempra California | $ | 54,462 |  |  | $ | 53,430 |
Sempra Texas Utilities | 14,940 |  |  | 14,392 |
Sempra Infrastructure | 21,131 |  |  | 19,430 |
All other | 963 |  |  | 967 |
Intersegment receivables | (1,023) |  |  | (1,038) |
Total | $ | 90,473 |  |  | $ | 87,181 |
EQUITY METHOD AND OTHER INVESTMENTS |  |  |
Sempra Texas Utilities | $ | 14,927 |  |  | $ | 14,380 |
Sempra Infrastructure | 2,286 |  |  | 2,129 |
All other | 1 |  |  | 1 |
Total | $ | 17,214 |  |  | $ | 16,510 |
| Six months ended June 30,
| 2024 |  | 2023
EXPENDITURES FOR PROPERTY, PLANT & EQUIPMENT |  |
Sempra California | $ | 2,212 |  |  | $ | 2,200 |
Sempra Infrastructure | 1,617 |  |  | 2,078 |
All other | 1 |  |  | 4 |
Total | $ | 3,830 |  |  | $ | 4,282 |
SEGMENT INFORMATION (CONTINUED) |  |  |  |  |  |  |
(Dollars in millions) |  |  |  |  |  |  |
| Three months ended June 30, |  | Six months ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
REVENUES |  |  |  |  |  |  |
Sempra California | $ | 2,625 |  |  | $ | 2,700 |  |  | $ | 5,766 |  |  | $ | 8,115 |
Sempra Infrastructure | 409 |  |  | 660 |  |  | 928 |  |  | 1,856 |
Adjustments and eliminations | 1 |  |  | (2) |  |  | — |  |  | (2) |
Intersegment revenues(1) | (24) |  |  | (23) |  |  | (43) |  |  | (74) |
Total | $ | 3,011 |  |  | $ | 3,335 |  |  | $ | 6,651 |  |  | $ | 9,895 |
DEPRECIATION AND AMORTIZATION |  |  |  |  |  |  |
Sempra California | $ | 528 |  |  | $ | 476 |  |  | $ | 1,049 |  |  | $ | 944 |
Sempra Infrastructure | 73 |  |  | 70 |  |  | 145 |  |  | 139 |
All other | 2 |  |  | 3 |  |  | 3 |  |  | 5 |
Total | $ | 603 |  |  | $ | 549 |  |  | $ | 1,197 |  |  | $ | 1,088 |
INTEREST INCOME |  |  |  |  |  |  |
Sempra California | $ | 5 |  |  | $ | 5 |  |  | $ | 8 |  |  | $ | 10 |
Sempra Infrastructure | 7 |  |  | 6 |  |  | 12 |  |  | 21 |
All other | 6 |  |  | 6 |  |  | 11 |  |  | 10 |
Intercompany eliminations | (1) |  |  | — |  |  | (1) |  |  | — |
Total | $ | 17 |  |  | $ | 17 |  |  | $ | 30 |  |  | $ | 41 |
INTEREST EXPENSE |  |  |  |  |  |  |
Sempra California | $ | 209 |  |  | $ | 194 |  |  | $ | 414 |  |  | $ | 381 |
Sempra Infrastructure | — |  |  | 25 |  |  | — |  |  | 120 |
All other | 103 |  |  | 99 |  |  | 203 |  |  | 183 |
Intercompany eliminations | (1) |  |  | (1) |  |  | (1) |  |  | (1) |
Total | $ | 311 |  |  | $ | 317 |  |  | $ | 616 |  |  | $ | 683 |
INCOME TAX EXPENSE (BENEFIT) |  |  |  |  |  |  |
Sempra California | $ | 44 |  |  | $ | (17) |  |  | $ | 127 |  |  | $ | 84 |
Sempra Infrastructure | (133) |  |  | 201 |  |  | (24) |  |  | 531 |
All other | (41) |  |  | (9) |  |  | (61) |  |  | (64) |
Total | $ | (130) |  |  | $ | 175 |  |  | $ | 42 |  |  | $ | 551 |
EQUITY EARNINGS |  |  |  |  |  |  |
Equity earnings, before income tax: |  |  |  |  |  |  |
Sempra Texas Utilities | $ | 2 |  |  | $ | 2 |  |  | $ | 4 |  |  | $ | 3 |
Sempra Infrastructure | 158 |  |  | 151 |  |  | 290 |  |  | 282 |
| 160 |  |  | 153 |  |  | 294 |  |  | 285 |
Equity earnings, net of income tax: |  |  |  |  |  |  |
Sempra Texas Utilities | 202 |  |  | 160 |  |  | 385 |  |  | 243 |
Sempra Infrastructure | 71 |  |  | 75 |  |  | 102 |  |  | 79 |
| 273 |  |  | 235 |  |  | 487 |  |  | 322 |
Total | $ | 433 |  |  | $ | 388 |  |  | $ | 781 |  |  | $ | 607 |
EARNINGS (LOSSES) ATTRIBUTABLE TO COMMON SHARES |  |  |  |  |  |
Sempra California | $ | 316 |  |  | $ | 339 |  |  | $ | 898 |  |  | $ | 957 |
Sempra Texas Utilities | 202 |  |  | 160 |  |  | 385 |  |  | 243 |
Sempra Infrastructure | 291 |  |  | 208 |  |  | 422 |  |  | 523 |
All other | (96) |  |  | (104) |  |  | (191) |  |  | (151) |
Total | $ | 713 |  |  | $ | 603 |  |  | $ | 1,514 |  |  | $ | 1,572 |
(1) Revenues for reportable segments include intersegment revenues of $5 and $19 for the three months ended June 30, 2024 and $10 and $33 for the six months ended June 30, 2024; $4 and $19 for the three months ended June 30, 2023 and $9 and $65 for the six months ended June 30, 2023 for Sempra California and Sempra Infrastructure, respectively.

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