EX-99.2 3 ex99_2x20250630xearningsta.htm EX-99.2
Exhibit 99.2

SEMPRA
Table F
STATEMENTS OF OPERATIONS DATA BY SEGMENT
(Dollars in millions)
| Sempra California |  | Sempra Texas Utilities(1) |  | Sempra Infrastructure |  | Consolidating Adjustments, Parent & Other |  | Total
| Three months ended June 30, 2025
Revenues | $ | 2,490 |  |  |  |  |  | $ | 530 |  |  | $ | (20) |  |  | $ | 3,000 |
Depreciation and amortization | (574) |  |  |  |  |  | (78) |  |  | (1) |  |  | (653) |
Interest income | 3 |  |  |  |  |  | 5 |  |  | 6 |  |  | 14 |
Interest expense(2) | (228) |  |  |  |  |  | 6 |  |  | (137) |  |  | (359) |
Income tax (expense) benefit | (13) |  |  |  |  |  | (231) |  |  | 72 |  |  | (172) |
Equity earnings | — |  |  | $ | 210 |  |  | 183 |  |  | — |  |  | 393 |
Earnings attributable to noncontrolling interests | — |  |  | — |  |  | (46) |  |  | — |  |  | (46) |
Other segment items(3) | (1,419) |  |  | (2) |  |  | (297) |  |  | 2 |  |  | (1,716) |
Earnings (losses) attributable to common shares | $ | 259 |  |  | $ | 208 |  |  | $ | 72 |  |  | $ | (78) |  |  | $ | 461 |
| Three months ended June 30, 2024
Revenues | $ | 2,625 |  |  |  |  |  | $ | 409 |  |  | $ | (23) |  |  | $ | 3,011 |
Depreciation and amortization | (528) |  |  |  |  |  | (73) |  |  | (2) |  |  | (603) |
Interest income | 5 |  |  |  |  |  | 7 |  |  | 5 |  |  | 17 |
Interest expense | (209) |  |  |  |  |  | — |  |  | (102) |  |  | (311) |
Income tax (expense) benefit | (44) |  |  |  |  |  | 133 |  |  | 41 |  |  | 130 |
Equity earnings | — |  |  | $ | 204 |  |  | 229 |  |  | — |  |  | 433 |
Earnings attributable to noncontrolling interests | — |  |  | — |  |  | (146) |  |  | — |  |  | (146) |
Other segment items(3) | (1,533) |  |  | (2) |  |  | (268) |  |  | (15) |  |  | (1,818) |
Earnings (losses) attributable to common shares | $ | 316 |  |  | $ | 202 |  |  | $ | 291 |  |  | $ | (96) |  |  | $ | 713 |

(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, other income (expense), net, and preferred dividends for Sempra California; O&M and interest 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.

SEMPRA
Table F (Continued)
STATEMENTS OF OPERATIONS DATA BY SEGMENT
(Dollars in millions)
| Sempra California |  | Sempra Texas Utilities(1) |  | Sempra Infrastructure |  | Consolidating Adjustments, Parent & Other |  | Total
| Six months ended June 30, 2025
Revenues | $ | 5,891 |  |  |  |  |  | $ | 956 |  |  | $ | (45) |  |  | $ | 6,802 |
Depreciation and amortization | (1,136) |  |  |  |  |  | (154) |  |  | (3) |  |  | (1,293) |
Interest income | 5 |  |  |  |  |  | 24 |  |  | 19 |  |  | 48 |
Interest expense(2) | (453) |  |  |  |  |  | (71) |  |  | (268) |  |  | (792) |
Income tax (expense) benefit | (65) |  |  |  |  |  | (253) |  |  | 89 |  |  | (229) |
Equity earnings | — |  |  | $ | 358 |  |  | 360 |  |  | — |  |  | 718 |
Earnings attributable to noncontrolling interests | — |  |  | — |  |  | (48) |  |  | — |  |  | (48) |
Other segment items(3) | (3,259) |  |  | (4) |  |  | (596) |  |  | 20 |  |  | (3,839) |
Earnings (losses) attributable to common shares | $ | 983 |  |  | $ | 354 |  |  | $ | 218 |  |  | $ | (188) |  |  | $ | 1,367 |
| Six months ended June 30, 2024
Revenues | $ | 5,766 |  |  |  |  |  | $ | 928 |  |  | $ | (43) |  |  | $ | 6,651 |
Depreciation and amortization | (1,049) |  |  |  |  |  | (145) |  |  | (3) |  |  | (1,197) |
Interest income | 8 |  |  |  |  |  | 12 |  |  | 10 |  |  | 30 |
Interest expense | (414) |  |  |  |  |  | — |  |  | (202) |  |  | (616) |
Income tax (expense) benefit | (127) |  |  |  |  |  | 24 |  |  | 61 |  |  | (42) |
Equity earnings | — |  |  | $ | 389 |  |  | 392 |  |  | — |  |  | 781 |
Earnings attributable to noncontrolling interests | — |  |  | — |  |  | (215) |  |  | — |  |  | (215) |
Other segment items(3) | (3,286) |  |  | (4) |  |  | (574) |  |  | (14) |  |  | (3,878) |
Earnings (losses) attributable to common shares | $ | 898 |  |  | $ | 385 |  |  | $ | 422 |  |  | $ | (191) |  |  | $ | 1,514 |

(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 and interest 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.