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SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Information | The following tables present selected information by segment and reconciliations of assets, capital expenditures for PP&E, and earnings attributable to common shares to Sempra’s consolidated totals.
SEGMENT INFORMATION |  |  |  |  |  |  |
(Dollars in millions) |  |  |  |  |  |  |
|  |  |  |  | September 30, 2025 |  | December 31, 2024
ASSETS |  |  |  |  |  |  |
Sempra California |  |  |  |  | $ | 59,479 |  |  | $ | 56,116 |
Sempra Texas Utilities |  |  |  |  | 17,173 |  |  | 15,534 |
Sempra Infrastructure |  |  |  |  | 30,140 |  |  | 22,954 |
Segment totals |  |  |  |  | 106,792 |  |  | 94,604 |
Parent and other |  |  |  |  | 1,162 |  |  | 2,622 |
Intersegment eliminations(1) |  |  |  |  | (1,035) |  |  | (1,071) |
Total Sempra |  |  |  |  | $ | 106,919 |  |  | $ | 96,155 |
EQUITY METHOD INVESTMENTS |  |  |  |  |  |  |
Sempra Texas Utilities |  |  |  |  | $ | 17,164 |  |  | $ | 15,522 |
Sempra Infrastructure(2) |  |  |  |  | 17 |  |  | 2,411 |
Segment totals/Total Sempra |  |  |  |  | $ | 17,181 |  |  | $ | 17,933 |
| Three months ended September 30, |  | Nine months ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
EQUITY EARNINGS |  |  |  |  |  |  |
Equity earnings, before income tax: |  |  |  |  |  |  |
Sempra Texas Utilities | $ | 1 |  |  | $ | 2 |  |  | $ | 4 |  |  | $ | 6 |
Sempra Infrastructure | 132 |  |  | 130 |  |  | 439 |  |  | 420 |
Segment totals | 133 |  |  | 132 |  |  | 443 |  |  | 426 |
Equity earnings, net of income tax: |  |  |  |  |  |  |
Sempra Texas Utilities | 306 |  |  | 261 |  |  | 661 |  |  | 646 |
Sempra Infrastructure | 33 |  |  | 61 |  |  | 86 |  |  | 163 |
Segment totals | 339 |  |  | 322 |  |  | 747 |  |  | 809 |
Total Sempra | $ | 472 |  |  | $ | 454 |  |  | $ | 1,190 |  |  | $ | 1,235 |
CAPITAL EXPENDITURES FOR PROPERTY, PLANT AND EQUIPMENT |  |  |  |
Sempra California |  |  |  |  | $ | 3,334 |  |  | $ | 3,329 |
Sempra Infrastructure |  |  |  |  | 3,863 |  |  | 2,433 |
Segment totals |  |  |  |  | 7,197 |  |  | 5,762 |
Parent and other |  |  |  |  | 4 |  |  | 3 |
Total Sempra |  |  |  |  | $ | 7,201 |  |  | $ | 5,765 |
(1) Primarily includes an intersegment loan related to deferred income taxes from Sempra Infrastructure to Parent and other. (2) At September 30, 2025, $2,471 is classified as Assets Held for Sale on the Sempra Condensed Consolidated Balance Sheet. The remaining $17 represents our investment balance in Cameron LNG JV related to our guarantee under the SDSRA, which we discuss in Note 13.
SEGMENT INFORMATION (CONTINUED) |  |  |  |  |  |  |
(Dollars in millions) |  |  |  |  |  |  |
| Sempra California |  | Sempra Texas Utilities(1) |  | Sempra Infrastructure |  | Sempra
| Three months ended September 30, 2025
Revenues | $ | 2,613 |  |  |  |  | $ | 555 |  |  |
Depreciation and amortization | (591) |  |  |  |  | (69) |  |  |
Interest income | 2 |  |  |  |  | 10 |  |  |
Interest expense(2) | (234) |  |  |  |  | (16) |  |  |
Income tax benefit (expense) | 128 |  |  |  |  | (792) |  |  |
Equity earnings |  |  | $ | 307 |  |  | 165 |  |  |
Earnings attributable to noncontrolling interests |  |  |  |  | (55) |  |  |
Other segment items(3) | (1,548) |  |  | (1) |  |  | (378) |  |  |
Segment earnings attributable to common shares | $ | 370 |  |  | $ | 306 |  |  | $ | (580) |  |  | $ | 96 |
Parent and other |  |  |  |  |  |  | (19) |
Earnings attributable to common shares |  |  |  |  |  |  | $ | 77 |
| Three months ended September 30, 2024
Revenues | $ | 2,256 |  |  |  |  | $ | 538 |  |  |
Depreciation and amortization | (536) |  |  |  |  | (76) |  |  |
Interest income | 4 |  |  |  |  | 7 |  |  |
Interest expense | (213) |  |  |  |  | — |  |  |
Income tax benefit | 37 |  |  |  |  | 43 |  |  |
Equity earnings |  |  | $ | 263 |  |  | 191 |  |  |
Earnings attributable to noncontrolling interests |  |  |  |  | (110) |  |  |
Other segment items(3) | (1,301) |  |  | (2) |  |  | (363) |  |  |
Segment earnings attributable to common shares | $ | 247 |  |  | $ | 261 |  |  | $ | 230 |  |  | $ | 738 |
Parent and other |  |  |  |  |  |  | (100) |
Earnings attributable to common shares |  |  |  |  |  |  | $ | 638 |
(1) Substantially all earnings attributable to common shares are from equity earnings. (2) Sempra Infrastructure includes net unrealized gains (losses) from undesignated interest rate swaps related to the PA LNG Phase 1 project. (3) Includes cost of natural gas, cost of electric fuel and purchased power, O&M, franchise fees and other taxes, and other income (expense), net, for Sempra California; O&M, interest expense, and income tax expense for Sempra Texas Utilities related to activities at the holding company; and cost of natural gas, energy-related businesses cost of sales, O&M, franchise fees and other taxes, and other income (expense), net, for Sempra Infrastructure.
SEGMENT INFORMATION (CONTINUED) |  |  |  |  |  |  |
(Dollars in millions) |  |  |  |  |  |  |
| Sempra California |  | Sempra Texas Utilities(1) |  | Sempra Infrastructure |  | Sempra
| Nine months ended September 30, 2025
Revenues | $ | 8,504 |  |  |  |  | $ | 1,511 |  |  |
Depreciation and amortization | (1,727) |  |  |  |  | (223) |  |  |
Interest income | 7 |  |  |  |  | 34 |  |  |
Interest expense(2) | (687) |  |  |  |  | (87) |  |  |
Income tax benefit (expense) | 63 |  |  |  |  | (1,045) |  |  |
Equity earnings |  |  | $ | 665 |  |  | 525 |  |  |
Earnings attributable to noncontrolling interests |  |  |  |  | (103) |  |  |
Other segment items(3) | (4,807) |  |  | (5) |  |  | (974) |  |  |
Segment earnings attributable to common shares | $ | 1,353 |  |  | $ | 660 |  |  | $ | (362) |  |  | $ | 1,651 |
Parent and other |  |  |  |  |  |  | (207) |
Earnings attributable to common shares |  |  |  |  |  |  | $ | 1,444 |
| Nine months ended September 30, 2024
Revenues | $ | 8,022 |  |  |  |  | $ | 1,466 |  |  |
Depreciation and amortization | (1,585) |  |  |  |  | (221) |  |  |
Interest income | 12 |  |  |  |  | 19 |  |  |
Interest expense | (627) |  |  |  |  | — |  |  |
Income tax (expense) benefit | (90) |  |  |  |  | 67 |  |  |
Equity earnings |  |  | $ | 652 |  |  | 583 |  |  |
Earnings attributable to noncontrolling interests |  |  |  |  | (325) |  |  |
Other segment items(3) | (4,587) |  |  | (6) |  |  | (937) |  |  |
Segment earnings attributable to common shares | $ | 1,145 |  |  | $ | 646 |  |  | $ | 652 |  |  | $ | 2,443 |
Parent and other |  |  |  |  |  |  | (291) |
Earnings attributable to common shares |  |  |  |  |  |  | $ | 2,152 |
(1) Substantially all earnings attributable to common shares are from equity earnings. (2) Sempra Infrastructure includes net unrealized gains (losses) from undesignated interest rate swaps related to the PA LNG Phase 1 project. (3) Includes cost of natural gas, cost of electric fuel and purchased power, O&M, franchise fees and other taxes, other income (expense), net, and preferred dividends for Sempra California; O&M, interest expense, and income tax expense for Sempra Texas Utilities related to activities at the holding company; and cost of natural gas, energy-related businesses cost of sales, O&M, franchise fees and other taxes, and other income (expense), net, for Sempra Infrastructure. The following table presents revenues by services by segment, reconciled to Sempra’s consolidated revenues.
REVENUES BY SERVICES
(Dollars in millions)
| Sempra California |  | Sempra Infrastructure |  | Sempra |  | Sempra California |  | Sempra Infrastructure |  | Sempra
| Three months ended September 30, 2025 |  | Three months ended September 30, 2024
Revenues from external customers: |  |  |  |  |  |  |  |  |  |  |
Utilities | $ | 2,513 |  |  | $ | 15 |  |  |  |  | $ | 2,388 |  |  | $ | 15 |  |  |
Energy-related businesses | — |  |  | 228 |  |  |  |  | — |  |  | 167 |  |  |
Total revenues from external customers(1) | 2,513 |  |  | 243 |  |  | $ | 2,756 |  |  | 2,388 |  |  | 182 |  |  | $ | 2,570 |
Other revenues(2): |  |  |  |  |  |  |  |  |  |  |
Utilities | 95 |  |  | — |  |  |  |  | (138) |  |  | — |  |  |
Energy-related businesses | — |  |  | 300 |  |  |  |  | — |  |  | 345 |  |  |
Total other revenues | 95 |  |  | 300 |  |  | 395 |  |  | (138) |  |  | 345 |  |  | 207 |
Intersegment revenues(3): |  |  |  |  |  |  |  |  |  |  |
Utilities | 5 |  |  | — |  |  |  |  | 6 |  |  | — |  |  |
Energy-related businesses | — |  |  | 12 |  |  |  |  | — |  |  | 11 |  |  |
Total intersegment revenues | 5 |  |  | 12 |  |  | 17 |  |  | 6 |  |  | 11 |  |  | 17 |
Segment revenues | $ | 2,613 |  |  | $ | 555 |  |  | 3,168 |  |  | $ | 2,256 |  |  | $ | 538 |  |  | 2,794 |
Adjustments |  |  |  |  | — |  |  |  |  |  |  | (1) |
Intersegment eliminations |  |  |  |  | (17) |  |  |  |  |  |  | (17) |
Revenues |  |  |  |  | $ | 3,151 |  |  |  |  |  |  | $ | 2,776 |
| Nine months ended September 30, 2025 |  | Nine months ended September 30, 2024
Revenues from external customers: |  |  |  |  |  |  |  |  |  |  |
Utilities | $ | 8,412 |  |  | $ | 59 |  |  |  |  | $ | 8,113 |  |  | $ | 63 |  |  |
Energy-related businesses | — |  |  | 666 |  |  |  |  | — |  |  | 575 |  |  |
Total revenues from external customers(1) | 8,412 |  |  | 725 |  |  | $ | 9,137 |  |  | 8,113 |  |  | 638 |  |  | $ | 8,751 |
Other revenues(2): |  |  |  |  |  |  |  |  |  |  |
Utilities | 74 |  |  | — |  |  |  |  | (107) |  |  | — |  |  |
Energy-related businesses | — |  |  | 742 |  |  |  |  | — |  |  | 784 |  |  |
Total other revenues | 74 |  |  | 742 |  |  | 816 |  |  | (107) |  |  | 784 |  |  | 677 |
Intersegment revenues(3): |  |  |  |  |  |  |  |  |  |  |
Utilities | 18 |  |  | — |  |  |  |  | 16 |  |  | — |  |  |
Energy-related businesses | — |  |  | 44 |  |  |  |  | — |  |  | 44 |  |  |
Total intersegment revenues | 18 |  |  | 44 |  |  | 62 |  |  | 16 |  |  | 44 |  |  | 60 |
Segment revenues | $ | 8,504 |  |  | $ | 1,511 |  |  | 10,015 |  |  | $ | 8,022 |  |  | $ | 1,466 |  |  | 9,488 |
Adjustments |  |  |  |  | — |  |  |  |  |  |  | (1) |
Intersegment eliminations |  |  |  |  | (62) |  |  |  |  |  |  | (60) |
Revenues |  |  |  |  | $ | 9,953 |  |  |  |  |  |  | $ | 9,427 |
(1) We did not have revenues from transactions with a single external customer that amounted to 10% or more of Sempra’s total revenues. (2) See “Revenues from Sources Other Than Contracts with Customers” in Note 3 of the Notes to Consolidated Financial Statements in the Annual Report for a description of this revenue source, which may be additive or subtractive from period to period. (3) See “Transactions with Affiliates” in Note 1 of the Notes to Consolidated Financial Statements in the Annual Report for a description of services provided by one operating segment to another operating segment within Sempra. The following table presents selected information for SDG&E’s single segment and reconciliation of earnings attributable to common shares.
SEGMENT INFORMATION
(Dollars in millions)
| Three months ended September 30, |  | Nine months ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
SDG&E: |  |  |  |  |  |  |
Revenues from external customers: |  |  |  |  |  |  |
Electric | $ | 1,131 |  |  | $ | 1,160 |  |  | $ | 3,062 |  |  | $ | 3,178 |
Natural gas | 218 |  |  | 167 |  |  | 789 |  |  | 658 |
Total revenues from external customers(1) | 1,349 |  |  | 1,327 |  |  | 3,851 |  |  | 3,836 |
Regulatory revenues(2): |  |  |  |  |  |  |
Electric | 132 |  |  | (87) |  |  | 300 |  |  | 104 |
Natural gas | (1) |  |  | 3 |  |  | 11 |  |  | 37 |
Total regulatory revenues | 131 |  |  | (84) |  |  | 311 |  |  | 141 |
Total revenues | 1,480 |  |  | 1,243 |  |  | 4,162 |  |  | 3,977 |
Depreciation and amortization | (334) |  |  | (308) |  |  | (977) |  |  | (910) |
Interest income | — |  |  | 1 |  |  | 2 |  |  | 5 |
Interest expense | (141) |  |  | (131) |  |  | (415) |  |  | (390) |
Income tax benefit (expense) | 33 |  |  | (15) |  |  | 12 |  |  | (89) |
Other segment items(3) | (714) |  |  | (529) |  |  | (2,004) |  |  | (1,923) |
Earnings attributable to common shares | $ | 324 |  |  | $ | 261 |  |  | $ | 780 |  |  | $ | 670 |
Capital expenditures for property, plant and equipment |  |  |  |  | $ | 1,811 |  |  | $ | 1,838 |
(1) SDG&E did not have revenues from transactions with a single external customer that amounted to 10% or more of its total revenues. (2) See “Revenues from Sources Other Than Contracts with Customers” in Note 3 of the Notes to Consolidated Financial Statements in the Annual Report for a description of this revenue source, which may be additive or subtractive from period to period. (3) Includes cost of electric fuel and purchased power, cost of natural gas, O&M, franchise fees and other taxes, and other income (expense), net. The following table presents selected information for SoCalGas’ single segment and reconciliation of earnings attributable to common shares.
SEGMENT INFORMATION
(Dollars in millions)
| Three months ended September 30, |  | Nine months ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
SoCalGas: |  |  |  |  |  |  |
Natural gas: |  |  |  |  |  |  |
Revenues from external customers(1) | $ | 1,217 |  |  | $ | 1,110 |  |  | $ | 4,706 |  |  | $ | 4,416 |
Regulatory revenues(2) | (36) |  |  | (56) |  |  | (237) |  |  | (248) |
Total revenues | 1,181 |  |  | 1,054 |  |  | 4,469 |  |  | 4,168 |
Depreciation and amortization | (257) |  |  | (228) |  |  | (750) |  |  | (675) |
Interest income | 2 |  |  | 3 |  |  | 5 |  |  | 7 |
Interest expense | (93) |  |  | (82) |  |  | (272) |  |  | (237) |
Income tax benefit (expense) | 95 |  |  | 52 |  |  | 51 |  |  | (1) |
Other segment items(3) | (882) |  |  | (813) |  |  | (2,930) |  |  | (2,787) |
Earnings (losses) attributable to common shares | $ | 46 |  |  | $ | (14) |  |  | $ | 573 |  |  | $ | 475 |
Capital expenditures for property, plant and equipment |  |  |  |  | $ | 1,523 |  |  | $ | 1,491 |
(1) SoCalGas did not have revenues from transactions with a single external customer that amounted to 10% or more of its total revenues. (2) See “Revenues from Sources Other Than Contracts with Customers” in Note 3 of the Notes to Consolidated Financial Statements in the Annual Report for a description of this revenue source, which may be additive or subtractive from period to period. (3) Includes cost of natural gas, O&M, franchise fees and other taxes, other income (expense), net, and preferred dividends

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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