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DEBT AND CREDIT FACILITIES (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Line of Credit Facilities |
COMMITTED LINES OF CREDIT
(Dollars in millions)
|  |  | December 31, 2024
Borrower | Expiration date of facility |  | Total facility |  | Commercial paper outstanding |  | Amounts outstanding |  | Letters of credit outstanding |  | Available unused credit
Sempra | October 2029 |  | $ | 4,000 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,000 |
SDG&E | October 2029 |  | 1,500 |  |  | (417) |  |  | — |  |  | — |  |  | 1,083 |
SoCalGas | October 2029 |  | 1,200 |  |  | (337) |  |  | — |  |  | — |  |  | 863 |
SI Partners and IEnova | September 2025 |  | 500 |  |  | — |  |  | (368) |  |  | — |  |  | 132 |
SI Partners and IEnova | August 2026 |  | 1,000 |  |  | — |  |  | — |  |  | — |  |  | 1,000 |
SI Partners and IEnova | August 2028 |  | 1,500 |  |  | — |  |  | (186) |  |  | — |  |  | 1,314 |
Port Arthur LNG | March 2030 |  | 200 |  |  | — |  |  | — |  |  | (64) |  |  | 136 |
Total |  |  | $ | 9,900 |  |  | $ | (754) |  |  | $ | (554) |  |  | $ | (64) |  |  | $ | 8,528 |
UNCOMMITTED LETTERS OF CREDIT OUTSTANDING |
(Dollars in millions) |
| Expiration date range | December 31, 2024
SDG&E | January 2025 - November 2025 | $ | 26 |
SoCalGas | January 2025 - December 2025 | 20 |
Other Sempra | January 2025 - November 2054 | 451 |
Total Sempra | $ | 497 |
The weighted-average interest rates on all short-term debt were as follows:
WEIGHTED-AVERAGE INTEREST RATES
| December 31,
| 2024 |  | 2023
Sempra | 5.03 | % |  | 5.96 | %
SDG&E | 4.76 |  |  | — |
SoCalGas | 5.02 |  |  | 5.44 |
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,
| 2024 |  | 2023
SDG&E: |  |  |
First mortgage bonds (collateralized by plant assets): |  |  |
2.50% May 15, 2026 | $ | 500 |  |  | $ | 500 |
6.00% June 1, 2026 | 250 |  |  | 250 |
4.95% August 15, 2028 | 600 |  |  | 600 |
1.70% October 1, 2030 | 800 |  |  | 800 |
3.00% March 15, 2032 | 500 |  |  | 500 |
5.35% May 15, 2035 | 250 |  |  | 250 |
6.125% September 15, 2037 | 250 |  |  | 250 |
6.00% June 1, 2039 | 300 |  |  | 300 |
5.35% May 15, 2040 | 250 |  |  | 250 |
4.50% August 15, 2040 | 500 |  |  | 500 |
3.95% November 15, 2041 | 250 |  |  | 250 |
4.30% April 1, 2042 | 250 |  |  | 250 |
3.75% June 1, 2047 | 400 |  |  | 400 |
4.15% May 15, 2048 | 400 |  |  | 400 |
4.10% June 15, 2049 | 400 |  |  | 400 |
3.32% April 15, 2050 | 400 |  |  | 400 |
2.95% August 15, 2051 | 750 |  |  | 750 |
3.70% March 15, 2052 | 500 |  |  | 500 |
5.35% April 1, 2053 | 800 |  |  | 800 |
5.55% April 15, 2054 | 600 |  |  | — |
| 8,950 |  |  | 8,350 |
Other long-term debt (uncollateralized): |  |  |
Notes at variable rates (5.99% at December 31, 2023) February 18, 2024(1) | — |  |  | 400 |
Finance lease obligations: |  |  |
Power purchase agreements | 1,138 |  |  | 1,166 |
Other | 67 |  |  | 67 |
| 1,205 |  |  | 1,633 |
| 10,155 |  |  | 9,983 |
Current portion of long-term debt and finance leases | (42) |  |  | (441) |
Unamortized discount on long-term debt | (33) |  |  | (29) |
Unamortized debt issuance costs | (62) |  |  | (60) |
Total SDG&E | $ | 10,018 |  |  | $ | 9,453 |
(1) Callable long-term debt not subject to make-whole provisions.
LONG-TERM DEBT AND FINANCE LEASES (CONTINUED) |  |  |
(Dollars in millions) |  |  |
| December 31,
| 2024 |  | 2023
SoCalGas: |  |  |
First mortgage bonds (collateralized by plant assets): |  |  |
3.15% September 15, 2024 | $ | — |  |  | $ | 500 |
3.20% June 15, 2025 | 350 |  |  | 350 |
2.60% June 15, 2026 | 500 |  |  | 500 |
2.55% February 1, 2030 | 650 |  |  | 650 |
5.20% June 1, 2033 | 500 |  |  | 500 |
5.05% September 1, 2034 | 600 |  |  | — |
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 |
4.30% 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 |  |  | 500 |
5.60% April 1, 2054 | 500 |  |  | — |
| 6,650 |  |  | 6,050 |
Other long-term debt (uncollateralized): |  |  |
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 | 110 |  |  | 107 |
| 819 |  |  | 816 |
| 7,469 |  |  | 6,866 |
Current portion of long-term debt and finance leases | (373) |  |  | (523) |
Unamortized discount on long-term debt | (18) |  |  | (13) |
Unamortized debt issuance costs | (47) |  |  | (42) |
Total SoCalGas | $ | 7,031 |  |  | $ | 6,288 |
(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,
| 2024 |  | 2023
Other Sempra: |  |  |
Sempra - Other long-term debt (uncollateralized): |  |  |
3.30% Notes April 1, 2025 | $ | 750 |  |  | $ | 750 |
5.40% Notes August 1, 2026 | 550 |  |  | 550 |
3.25% Notes June 15, 2027 | 750 |  |  | 750 |
3.40% Notes February 1, 2028 | 1,000 |  |  | 1,000 |
3.70% Notes April 1, 2029 | 500 |  |  | 500 |
5.50% Notes August 1, 2033 | 700 |  |  | 700 |
3.80% Notes February 1, 2038 | 1,000 |  |  | 1,000 |
6.00% Notes October 15, 2039 | 750 |  |  | 750 |
4.00% Notes February 1, 2048 | 800 |  |  | 800 |
4.125% (next rate reset on April 1, 2027) Junior Subordinated Notes April 1, 2052(1) | 1,000 |  |  | 1,000 |
6.40% (next rate reset on October 1, 2034) Junior Subordinated Notes October 1, 2054(1) | 1,250 |  |  | — |
6.875% (next rate reset on October 1, 2029) Junior Subordinated Notes October 1, 2054(1) | 600 |  |  | — |
6.875% (next rate reset on October 1, 2029) Junior Subordinated Notes October 1, 2054(1) | 500 |  |  | — |
6.55% (next rate reset on April 1, 2035) Junior Subordinated Notes April 1, 2055(1) | 600 |  |  | — |
6.625% (next rate reset on April 1, 2030) Junior Subordinated Notes April 1, 2055(1) | 400 |  |  | — |
5.75% Junior Subordinated Notes July 1, 2079(1) | 758 |  |  | 758 |
| 11,908 |  |  | 8,558 |
Sempra Infrastructure - Other long-term debt (uncollateralized unless otherwise noted): |  |  |
Loan at variable rates (weighted-average rate of 7.29% and 8.31% at December 31, 2024 and 2023, respectively) December 9, 2025 | 1,063 |  |  | 832 |
3.75% Notes January 14, 2028 | 300 |  |  | 300 |
Loan at variable rates (includes $1,090 and $200 at December 31, 2024 and 2023, respectively, (5.329% after floating-to-fixed rate swaps effective 2023) and $58 at December 31, 2023 (weighted-average rate of 7.37% at December 31, 2023)) March 20, 2030, collateralized by plant assets(1) | 1,090 |  |  | 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) | 90 |  |  | 96 |
Loan at variable rates (4.03% after floating-to-fixed rate swap effective 2019) payable June 15, 2022 through November 19, 2034(1) | 90 |  |  | 96 |
Loan at variable rates (2.38% after floating-to-fixed rate swap effective 2020) payable June 15, 2022 through November 19, 2034(1) | 90 |  |  | 96 |
2.90% Loan payable June 15, 2022 through November 19, 2034(1) | 219 |  |  | 231 |
4.875% Notes January 14, 2048 | 540 |  |  | 540 |
4.75% Notes January 15, 2051 | 800 |  |  | 800 |
| 4,682 |  |  | 3,649 |
| 16,590 |  |  | 12,207 |
Current portion of long-term debt | (1,859) |  |  | (11) |
Unamortized discount on long-term debt | (78) |  |  | (66) |
Unamortized debt issuance costs | (144) |  |  | (112) |
Total Other Sempra | 14,509 |  |  | 12,018 |
Total Sempra | $ | 31,558 |  |  | $ | 27,759 |
(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,
| 2024 |  | 2023
3.30% Notes April 1, 2025 | $ | 750 |  |  | $ | 750 |
5.40% Notes August 1, 2026 | 550 |  |  | 550 |
3.25% Notes June 15, 2027 | 750 |  |  | 750 |
3.40% Notes February 1, 2028 | 1,000 |  |  | 1,000 |
3.70% Notes April 1, 2029 | 500 |  |  | 500 |
5.50% Notes August 1, 2033 | 700 |  |  | 700 |
3.80% Notes February 1, 2038 | 1,000 |  |  | 1,000 |
6.00% Notes October 15, 2039 | 750 |  |  | 750 |
4.00% Notes February 1, 2048 | 800 |  |  | 800 |
4.125% (next rate reset on April 1, 2027) Junior Subordinated Notes April 1, 2052(1) | 1,000 |  |  | 1,000 |
6.40% (next rate reset on October 1, 2034) Junior Subordinated Notes October 1, 2054(1) | 1,250 |  |  | — |
6.875% (next rate reset on October 1, 2029) Junior Subordinated Notes October 1, 2054(1) | 600 |  |  | — |
6.875% (next rate reset on October 1, 2029) Junior Subordinated Notes October 1, 2054(1) | 500 |  |  | — |
6.55% (next rate reset on April 1, 2035) Junior Subordinated Notes April 1, 2055(1) | 600 |  |  | — |
6.625% (next rate reset on April 1, 2030) Junior Subordinated Notes April 1, 2055(1) | 400 |  |  | — |
5.75% Junior Subordinated Notes July 1, 2079(1) | 758 |  |  | 758 |
| 11,908 |  |  | 8,558 |
Current portion of long-term debt | (750) |  |  | — |
Unamortized discount on long-term debt | (30) |  |  | (29) |
Unamortized debt issuance costs | (100) |  |  | (68) |
Total long-term debt | $ | 11,028 |  |  | $ | 8,461 |
(1) Callable long-term debt not subject to make-whole provisions.
Schedule of Maturities of Long-term Debt | At December 31, 2024, 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
2025 | $ | — |  |  | $ | 350 |  |  | $ | 1,862 |  |  | $ | 2,212 |
2026 | 750 |  |  | 504 |  |  | 599 |  |  | 1,853 |
2027 | — |  |  | 700 |  |  | 799 |  |  | 1,499 |
2028 | 600 |  |  | 5 |  |  | 1,358 |  |  | 1,963 |
2029 | — |  |  | — |  |  | 584 |  |  | 584 |
Thereafter | 7,600 |  |  | 5,800 |  |  | 11,388 |  |  | 24,788 |
Total | $ | 8,950 |  |  | $ | 7,359 |  |  | $ | 16,590 |  |  | $ | 32,899 |
(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, 2024 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 | $ | — |  |  | $ | 4 |  |  | $ | 6,687 |  |  | $ | 6,691 |
Subject to make-whole provisions | 8,950 |  |  | 7,350 |  |  | 9,903 |  |  | 26,203 |

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