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REVENUES (Tables) | 9 Months Ended
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Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following tables disaggregate our revenues from contracts with customers by major service line and market. We also provide a reconciliation to total revenues by segment for Sempra. The majority of our revenue is recognized over time.
DISAGGREGATED REVENUES
(Dollars in millions)
| Sempra
| Sempra California |  | Sempra Infrastructure |  | Consolidating adjustments and Parent and other |  | Sempra
| Three months ended September 30, 2025
By major service line: |  |  |  |  |  |  |
Utilities | $ | 2,518 |  |  | $ | 15 |  |  | $ | (5) |  |  | $ | 2,528 |
Energy-related businesses | — |  |  | 241 |  |  | (13) |  |  | 228 |
Revenues from contracts with customers | $ | 2,518 |  |  | $ | 256 |  |  | $ | (18) |  |  | $ | 2,756 |
By market: |  |  |  |  |  |  |
Gas | $ | 1,390 |  |  | $ | 156 |  |  | $ | (3) |  |  | $ | 1,543 |
Electric | 1,128 |  |  | 100 |  |  | (15) |  |  | 1,213 |
Revenues from contracts with customers | $ | 2,518 |  |  | $ | 256 |  |  | $ | (18) |  |  | $ | 2,756 |
Revenues from contracts with customers | $ | 2,518 |  |  | $ | 256 |  |  | $ | (18) |  |  | $ | 2,756 |
Utilities regulatory revenues | 95 |  |  | — |  |  | — |  |  | 95 |
Other revenues | — |  |  | 299 |  |  | 1 |  |  | 300 |
Total revenues | $ | 2,613 |  |  | $ | 555 |  |  | $ | (17) |  |  | $ | 3,151 |
| Three months ended September 30, 2024
By major service line: |  |  |  |  |  |  |
Utilities | $ | 2,394 |  |  | $ | 15 |  |  | $ | (7) |  |  | $ | 2,402 |
Energy-related businesses | — |  |  | 179 |  |  | (12) |  |  | 167 |
Revenues from contracts with customers | $ | 2,394 |  |  | $ | 194 |  |  | $ | (19) |  |  | $ | 2,569 |
By market: |  |  |  |  |  |  |
Gas | $ | 1,237 |  |  | $ | 83 |  |  | $ | (6) |  |  | $ | 1,314 |
Electric | 1,157 |  |  | 111 |  |  | (13) |  |  | 1,255 |
Revenues from contracts with customers | $ | 2,394 |  |  | $ | 194 |  |  | $ | (19) |  |  | $ | 2,569 |
Revenues from contracts with customers | $ | 2,394 |  |  | $ | 194 |  |  | $ | (19) |  |  | $ | 2,569 |
Utilities regulatory revenues | (138) |  |  | — |  |  | — |  |  | (138) |
Other revenues | — |  |  | 344 |  |  | 1 |  |  | 345 |
Total revenues | $ | 2,256 |  |  | $ | 538 |  |  | $ | (18) |  |  | $ | 2,776 |
DISAGGREGATED REVENUES (CONTINUED)
(Dollars in millions)
| Sempra
| Sempra California |  | Sempra Infrastructure |  | Consolidating adjustments and Parent and other |  | Sempra
| Nine months ended September 30, 2025
By major service line: |  |  |  |  |  |  |
Utilities | $ | 8,430 |  |  | $ | 59 |  |  | $ | (18) |  |  | $ | 8,471 |
Energy-related businesses | — |  |  | 716 |  |  | (50) |  |  | 666 |
Revenues from contracts with customers | $ | 8,430 |  |  | $ | 775 |  |  | $ | (68) |  |  | $ | 9,137 |
By market: |  |  |  |  |  |  |
Gas | $ | 5,378 |  |  | $ | 471 |  |  | $ | (16) |  |  | $ | 5,833 |
Electric | 3,052 |  |  | 304 |  |  | (52) |  |  | 3,304 |
Revenues from contracts with customers | $ | 8,430 |  |  | $ | 775 |  |  | $ | (68) |  |  | $ | 9,137 |
Revenues from contracts with customers | $ | 8,430 |  |  | $ | 775 |  |  | $ | (68) |  |  | $ | 9,137 |
Utilities regulatory revenues | 74 |  |  | — |  |  | — |  |  | 74 |
Other revenues | — |  |  | 736 |  |  | 6 |  |  | 742 |
Total revenues | $ | 8,504 |  |  | $ | 1,511 |  |  | $ | (62) |  |  | $ | 9,953 |
| Nine months ended September 30, 2024
By major service line: |  |  |  |  |  |  |
Utilities | $ | 8,129 |  |  | $ | 63 |  |  | $ | (18) |  |  | $ | 8,174 |
Energy-related businesses | — |  |  | 625 |  |  | (49) |  |  | 576 |
Revenues from contracts with customers | $ | 8,129 |  |  | $ | 688 |  |  | $ | (67) |  |  | $ | 8,750 |
By market: |  |  |  |  |  |  |
Gas | $ | 4,961 |  |  | $ | 356 |  |  | $ | (15) |  |  | $ | 5,302 |
Electric | 3,168 |  |  | 332 |  |  | (52) |  |  | 3,448 |
Revenues from contracts with customers | $ | 8,129 |  |  | $ | 688 |  |  | $ | (67) |  |  | $ | 8,750 |
Revenues from contracts with customers | $ | 8,129 |  |  | $ | 688 |  |  | $ | (67) |  |  | $ | 8,750 |
Utilities regulatory revenues | (107) |  |  | — |  |  | — |  |  | (107) |
Other revenues | — |  |  | 778 |  |  | 6 |  |  | 784 |
Total revenues | $ | 8,022 |  |  | $ | 1,466 |  |  | $ | (61) |  |  | $ | 9,427 |
DISAGGREGATED REVENUES
(Dollars in millions) |  |  |  |
| SDG&E |  | SoCalGas
| Three months ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
By major service line: |  |  |  |  |  |  |
Revenues from contracts with customers – Utilities | $ | 1,349 |  |  | $ | 1,327 |  |  | $ | 1,217 |  |  | $ | 1,110 |
By market: |  |  |  |  |  |  |
Gas | $ | 218 |  |  | $ | 167 |  |  | $ | 1,217 |  |  | $ | 1,110 |
Electric | 1,131 |  |  | 1,160 |  |  | — |  |  | — |
Revenues from contracts with customers | $ | 1,349 |  |  | $ | 1,327 |  |  | $ | 1,217 |  |  | $ | 1,110 |
Revenues from contracts with customers | $ | 1,349 |  |  | $ | 1,327 |  |  | $ | 1,217 |  |  | $ | 1,110 |
Utilities regulatory revenues | 131 |  |  | (84) |  |  | (36) |  |  | (56) |
Total revenues | $ | 1,480 |  |  | $ | 1,243 |  |  | $ | 1,181 |  |  | $ | 1,054 |
| Nine months ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
By major service line: |  |  |  |  |  |  |
Revenues from contracts with customers – Utilities | $ | 3,851 |  |  | $ | 3,836 |  |  | $ | 4,706 |  |  | $ | 4,416 |
By market: |  |  |  |  |  |  |
Gas | $ | 789 |  |  | $ | 658 |  |  | $ | 4,706 |  |  | $ | 4,416 |
Electric | 3,062 |  |  | 3,178 |  |  | — |  |  | — |
Revenues from contracts with customers | $ | 3,851 |  |  | $ | 3,836 |  |  | $ | 4,706 |  |  | $ | 4,416 |
Revenues from contracts with customers | $ | 3,851 |  |  | $ | 3,836 |  |  | $ | 4,706 |  |  | $ | 4,416 |
Utilities regulatory revenues | 311 |  |  | 141 |  |  | (237) |  |  | (248) |
Total revenues | $ | 4,162 |  |  | $ | 3,977 |  |  | $ | 4,469 |  |  | $ | 4,168 |
Schedule of Timing of Remaining Performance Obligations | For contracts greater than one year, at September 30, 2025, we expect to recognize revenue related to the fixed fee component of the consideration as shown below. Sempra’s remaining performance obligations primarily relate to capacity agreements for natural gas storage and transportation at Sempra Infrastructure and transmission line projects at SDG&E. SoCalGas did not have any remaining performance obligations for contracts greater than one year at September 30, 2025.
REMAINING PERFORMANCE OBLIGATIONS
(Dollars in millions)
| Sempra(1) |  | SDG&E
2025 (excluding first nine months of 2025) | $ | 104 |  |  | $ | 1 |
2026 | 292 |  |  | 4 |
2027 | 291 |  |  | 4 |
2028 | 245 |  |  | 4 |
2029 | 217 |  |  | 4 |
Thereafter | 2,143 |  |  | 52 |
Total revenues to be recognized | $ | 3,292 |  |  | $ | 69 |
(1) Excludes intercompany transactions. Includes obligations within the disposal group that is held for sale.
Schedule of Contract Liabilities | Activities within Sempra’s and SDG&E’s contract liabilities are presented below. There were no contract liabilities at SoCalGas in the nine months ended September 30, 2025 or 2024.
CONTRACT LIABILITIES
(Dollars in millions)
| 2025 |  | 2024
Sempra: |  |  |
Contract liabilities at January 1 | $ | (196) |  |  | $ | (198) |
Revenue from performance obligations satisfied during reporting period(1) | 83 |  |  | 5 |
Payments received in advance(1) | (1) |  |  | (3) |
Reclassification to liabilities held for sale | 45 |  |  | — |
Contract liabilities at September 30(2) | $ | (69) |  |  | $ | (196) |
SDG&E: |  |  |
Contract liabilities at January 1 | $ | (72) |  |  | $ | (75) |
Revenue from performance obligations satisfied during reporting period | 3 |  |  | 3 |
Contract liabilities at September 30(2) | $ | (69) |  |  | $ | (72) |
(1) Includes activities within the disposal group that is held for sale. (2) Balance at September 30, 2025 includes $4 in Other Current Liabilities and $65 in Deferred Credits and Other.
Schedule of Contract Accounts Receivable | The table below shows receivable balances, net of allowances for credit losses, associated with revenues from contracts with customers on the Condensed Consolidated Balance Sheets.
RECEIVABLES FROM REVENUES FROM CONTRACTS WITH CUSTOMERS |
(Dollars in millions) |
| September 30, 2025 |  | December 31, 2024 |
Sempra: |  |  |  |
Accounts receivable – trade, net(1) | $ | 1,409 |  |  | $ | 1,787 |  |
Accounts receivable – other, net | 12 |  |  | 12 |  |
Due from unconsolidated affiliates – current(2) | — |  |  | 4 |  |
Assets held for sale | 125 |  |  | — |  |
Other long-term assets(3) | 19 |  |  | 18 |  |
Total | $ | 1,565 |  |  | $ | 1,821 |  |
SDG&E: |  |  |  |
Accounts receivable – trade, net(1) | $ | 849 |  |  | $ | 774 |  |
Accounts receivable – other, net | 10 |  |  | 11 |  |
Due from unconsolidated affiliates – current(2) | 12 |  |  | 6 |  |
Other long-term assets(3) | 3 |  |  | 4 |  |
Total | $ | 874 |  |  | $ | 795 |  |
SoCalGas: |  |  |  |
Accounts receivable – trade, net | $ | 560 |  |  | $ | 932 |  |
Accounts receivable – other, net | 2 |  |  | 1 |  |
Other long-term assets(3) | 16 |  |  | 14 |  |
Total | $ | 578 |  |  | $ | 947 |  |
(1) At September 30, 2025 and December 31, 2024, includes $218 and $144, respectively, of receivables due from customers that were billed on behalf of CCAs, which are not included in revenues. (2) Amount is presented net of amounts due to unconsolidated affiliates on the Condensed Consolidated Balance Sheets, when right of offset exists. (3) In January 2024, the CPUC directed SDG&E and SoCalGas to offer long-term repayment plans to eligible residential customers with past-due balances.

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