EX-99.2 3 ex99_2x20241231xearningsta.htm EX-99.2
Exhibit 99.2

SEMPRA
Table F
STATEMENTS OF OPERATIONS DATA BY SEGMENT
(Dollars in millions)
Three months ended December 31, 2024 | Sempra California |  | Sempra Texas Utilities(1) |  | Sempra Infrastructure |  | Segment Totals |  | Consolidating Adjustments, Parent & Other |  | Total
Revenues | $ | 3,360 |  |  |  |  |  | $ | 416 |  |  | $ | 3,776 |  |  | $ | (18) |  |  | $ | 3,758 |
Depreciation and amortization | (548) |  |  |  |  |  | (76) |  |  | (624) |  |  | (2) |  |  | (626) |
Interest income | 2 |  |  |  |  |  | 6 |  |  | 8 |  |  | 6 |  |  | 14 |
Interest expense(2) | (221) |  |  |  |  |  | 243 |  |  | 22 |  |  | (127) |  |  | (105) |
Income tax (expense) benefit | (94) |  |  |  |  |  | 97 |  |  | 3 |  |  | (285) |  |  | (282) |
Equity earnings | — |  |  | $ | 136 |  |  | 219 |  |  | 355 |  |  | 19 |  |  | 374 |
Earnings attributable to noncontrolling interests | — |  |  | — |  |  | (313) |  |  | (313) |  |  | — |  |  | (313) |
Other segment items(3) | (1,798) |  |  | (1) |  |  | (333) |  |  | (2,132) |  |  | (23) |  |  | (2,155) |
Earnings (losses) attributable to common shares | $ | 701 |  |  | $ | 135 |  |  | $ | 259 |  |  | $ | 1,095 |  |  | $ | (430) |  |  | $ | 665 |
Three months ended December 31, 2023 | Sempra California |  | Sempra Texas Utilities(1) |  | Sempra Infrastructure |  | Segment Totals |  | Consolidating Adjustments, Parent & Other |  | Total
Revenues | $ | 2,920 |  |  |  |  |  | $ | 586 |  |  | $ | 3,506 |  |  | $ | (15) |  |  | $ | 3,491 |
Depreciation and amortization | (502) |  |  |  |  |  | (71) |  |  | (573) |  |  | (3) |  |  | (576) |
Interest income | 5 |  |  |  |  |  | 18 |  |  | 23 |  |  | 6 |  |  | 29 |
Interest expense(2) | (205) |  |  |  |  |  | (2) |  |  | (207) |  |  | (107) |  |  | (314) |
Income tax benefit (expense) | 95 |  |  |  |  |  | (118) |  |  | (23) |  |  | 32 |  |  | 9 |
Equity earnings | — |  |  | $ | 148 |  |  | 207 |  |  | 355 |  |  | 40 |  |  | 395 |
Earnings attributable to noncontrolling interests | — |  |  | — |  |  | (108) |  |  | (108) |  |  | — |  |  | (108) |
Other segment items(3) | (1,813) |  |  | (2) |  |  | (381) |  |  | (2,196) |  |  | 7 |  |  | (2,189) |
Earnings (losses) attributable to common shares | $ | 500 |  |  | $ | 146 |  |  | $ | 131 |  |  | $ | 777 |  |  | $ | (40) |  |  | $ | 737 |

(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, operation and maintenance expense (O&M), franchise fees and other taxes, and other income (expense), net, for Sempra California; O&M, interest expense, and income tax (expense) benefit 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.

SEMPRA
Table F (Continued)
STATEMENTS OF OPERATIONS DATA BY SEGMENT
(Dollars in millions)
Year ended December 31, 2024(1) | Sempra California |  | Sempra Texas Utilities(2) |  | Sempra Infrastructure |  | Segment Totals |  | Consolidating Adjustments, Parent & Other |  | Total
Revenues | $ | 11,382 |  |  |  |  |  | $ | 1,882 |  |  | $ | 13,264 |  |  | $ | (79) |  |  | $ | 13,185 |
Depreciation and amortization | (2,133) |  |  |  |  |  | (297) |  |  | (2,430) |  |  | (7) |  |  | (2,437) |
Interest income | 14 |  |  |  |  |  | 25 |  |  | 39 |  |  | 22 |  |  | 61 |
Interest expense(3) | (848) |  |  |  |  |  | 243 |  |  | (605) |  |  | (444) |  |  | (1,049) |
Income tax (expense) benefit | (184) |  |  |  |  |  | 164 |  |  | (20) |  |  | (199) |  |  | (219) |
Equity earnings | — |  |  | $ | 788 |  |  | 802 |  |  | 1,590 |  |  | 19 |  |  | 1,609 |
Earnings attributable to noncontrolling interests | — |  |  | — |  |  | (638) |  |  | (638) |  |  | — |  |  | (638) |
Other segment items(4) | (6,385) |  |  | (7) |  |  | (1,270) |  |  | (7,662) |  |  | (33) |  |  | (7,695) |
Earnings (losses) attributable to common shares | $ | 1,846 |  |  | $ | 781 |  |  | $ | 911 |  |  | $ | 3,538 |  |  | $ | (721) |  |  | $ | 2,817 |
Year ended December 31, 2023(1) | Sempra California |  | Sempra Texas Utilities(2) |  | Sempra Infrastructure |  | Segment Totals |  | Consolidating Adjustments, Parent & Other |  | Total
Revenues | $ | 13,761 |  |  |  |  |  | $ | 3,071 |  |  | $ | 16,832 |  |  | $ | (112) |  |  | $ | 16,720 |
Depreciation and amortization | (1,937) |  |  |  |  |  | (281) |  |  | (2,218) |  |  | (9) |  |  | (2,227) |
Interest income | 24 |  |  |  |  |  | 43 |  |  | 67 |  |  | 22 |  |  | 89 |
Interest expense(3) | (782) |  |  |  |  |  | (129) |  |  | (911) |  |  | (398) |  |  | (1,309) |
Income tax benefit (expense) | 31 |  |  |  |  |  | (673) |  |  | (642) |  |  | 152 |  |  | (490) |
Equity earnings | — |  |  | $ | 701 |  |  | 740 |  |  | 1,441 |  |  | 40 |  |  | 1,481 |
Earnings attributable to noncontrolling interests | — |  |  | — |  |  | (543) |  |  | (543) |  |  | — |  |  | (543) |
Other segment items(4) | (9,350) |  |  | (7) |  |  | (1,351) |  |  | (10,708) |  |  | 17 |  |  | (10,691) |
Earnings (losses) attributable to common shares | $ | 1,747 |  |  | $ | 694 |  |  | $ | 877 |  |  | $ | 3,318 |  |  | $ | (288) |  |  | $ | 3,030 |

(1) Derived from audited financial statements.
(2) Substantially all earnings attributable to common shares are from equity earnings.
(3) Sempra Infrastructure includes net unrealized gains (losses) from undesignated interest rate swaps related to the PA LNG Phase 1 project.
(4) 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) benefit 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.