EX-99.2 3 ex99_2x20250930xearningsta.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 September 30, 2025
Revenues | $ | 2,613 |  |  |  |  |  | $ | 555 |  |  | $ | (17) |  |  | $ | 3,151 |
Depreciation and amortization | (591) |  |  |  |  |  | (69) |  |  | (2) |  |  | (662) |
Interest income | 2 |  |  |  |  |  | 10 |  |  | 5 |  |  | 17 |
Interest expense(2) | (234) |  |  |  |  |  | (16) |  |  | (153) |  |  | (403) |
Income tax benefit (expense) | 128 |  |  |  |  |  | (792) |  |  | 182 |  |  | (482) |
Equity earnings |  |  |  | $ | 307 |  |  | 165 |  |  |  |  |  | 472 |
Earnings attributable to noncontrolling interests |  |  |  |  | (55) |  |  |  |  | (55) |
Other segment items(3) | (1,548) |  |  | (1) |  |  | (378) |  |  | (34) |  |  | (1,961) |
Earnings (losses) attributable to common shares | $ | 370 |  |  | $ | 306 |  |  | $ | (580) |  |  | $ | (19) |  |  | $ | 77 |
| Three months ended September 30, 2024
Revenues | $ | 2,256 |  |  |  |  |  | $ | 538 |  |  | $ | (18) |  |  | $ | 2,776 |
Depreciation and amortization | (536) |  |  |  |  |  | (76) |  |  | (2) |  |  | (614) |
Interest income | 4 |  |  |  |  |  | 7 |  |  | 6 |  |  | 17 |
Interest expense | (213) |  |  |  |  |  | — |  |  | (115) |  |  | (328) |
Income tax benefit | 37 |  |  |  |  |  | 43 |  |  | 25 |  |  | 105 |
Equity earnings |  |  |  | $ | 263 |  |  | 191 |  |  |  |  |  | 454 |
Earnings attributable to noncontrolling interests |  |  |  |  | (110) |  |  |  |  | (110) |
Other segment items(3) | (1,301) |  |  | (2) |  |  | (363) |  |  | 4 |  |  | (1,662) |
Earnings (losses) attributable to common shares | $ | 247 |  |  | $ | 261 |  |  | $ | 230 |  |  | $ | (100) |  |  | $ | 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, 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 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
| Nine months ended September 30, 2025
Revenues | $ | 8,504 |  |  |  |  |  | $ | 1,511 |  |  | $ | (62) |  |  | $ | 9,953 |
Depreciation and amortization | (1,727) |  |  |  |  |  | (223) |  |  | (5) |  |  | (1,955) |
Interest income | 7 |  |  |  |  |  | 34 |  |  | 24 |  |  | 65 |
Interest expense(2) | (687) |  |  |  |  |  | (87) |  |  | (421) |  |  | (1,195) |
Income tax benefit (expense) | 63 |  |  |  |  |  | (1,045) |  |  | 271 |  |  | (711) |
Equity earnings |  |  |  | $ | 665 |  |  | 525 |  |  |  |  |  | 1,190 |
Earnings attributable to noncontrolling interests |  |  |  |  | (103) |  |  |  |  | (103) |
Other segment items(3) | (4,807) |  |  | (5) |  |  | (974) |  |  | (14) |  |  | (5,800) |
Earnings (losses) attributable to common shares | $ | 1,353 |  |  | $ | 660 |  |  | $ | (362) |  |  | $ | (207) |  |  | $ | 1,444 |
| Nine months ended September 30, 2024
Revenues | $ | 8,022 |  |  |  |  |  | $ | 1,466 |  |  | $ | (61) |  |  | $ | 9,427 |
Depreciation and amortization | (1,585) |  |  |  |  |  | (221) |  |  | (5) |  |  | (1,811) |
Interest income | 12 |  |  |  |  |  | 19 |  |  | 16 |  |  | 47 |
Interest expense | (627) |  |  |  |  |  | — |  |  | (317) |  |  | (944) |
Income tax (expense) benefit | (90) |  |  |  |  |  | 67 |  |  | 86 |  |  | 63 |
Equity earnings |  |  |  | $ | 652 |  |  | 583 |  |  |  |  |  | 1,235 |
Earnings attributable to noncontrolling interests |  |  |  |  | (325) |  |  |  |  | (325) |
Other segment items(3) | (4,587) |  |  | (6) |  |  | (937) |  |  | (10) |  |  | (5,540) |
Earnings (losses) attributable to common shares | $ | 1,145 |  |  | $ | 646 |  |  | $ | 652 |  |  | $ | (291) |  |  | $ | 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.