| REVENUES |
REVENUES We discuss revenue recognition for revenues from contracts with customers and from sources other than contracts with customers in Note 3 of the Notes to Consolidated Financial Statements in the Annual Report. The following table disaggregates our revenues from contracts with customers by major service line and market and provides a reconciliation to total revenues by segment. The majority of our revenue is recognized over time. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | DISAGGREGATED REVENUES | | (Dollars in millions) | | SDG&E | | SoCalGas | | Sempra Infrastructure | | Consolidating adjustments and Parent
and other | | Sempra | | Three months ended June 30, 2022 | | By major service line: | | | | | | | | | | | Utilities | $ | 1,250 | | | $ | 1,347 | | | $ | 20 | | | $ | (27) | | | $ | 2,590 | | | Energy-related businesses | — | | | — | | | 457 | | | (14) | | | 443 | | | Revenues from contracts with customers | $ | 1,250 | | | $ | 1,347 | | | $ | 477 | | | $ | (41) | | | $ | 3,033 | | | | | | | | | | | | | By market: | | | | | | | | | | | Gas | $ | 159 | | | $ | 1,347 | | | $ | 340 | | | $ | (19) | | | $ | 1,827 | | | Electric | 1,091 | | | — | | | 137 | | | (22) | | | 1,206 | | | Revenues from contracts with customers | $ | 1,250 | | | $ | 1,347 | | | $ | 477 | | | $ | (41) | | | $ | 3,033 | | | | | | | | | | | | | Revenues from contracts with customers | $ | 1,250 | | | $ | 1,347 | | | $ | 477 | | | $ | (41) | | | $ | 3,033 | | | Utilities regulatory revenues | 149 | | | 154 | | | — | | | — | | | 303 | | | Other revenues | — | | | — | | | 212 | | | (1) | | | 211 | | | Total revenues | $ | 1,399 | | | $ | 1,501 | | | $ | 689 | | | $ | (42) | | | $ | 3,547 | | | | | | | | | | | | | | Six months ended June 30, 2022 | | By major service line: | | | | | | | | | | | Utilities | $ | 2,751 | | | $ | 3,259 | | | $ | 48 | | | $ | (56) | | | $ | 6,002 | | | Energy-related businesses | — | | | — | | | 749 | | | (29) | | | 720 | | | Revenues from contracts with customers | $ | 2,751 | | | $ | 3,259 | | | $ | 797 | | | $ | (85) | | | $ | 6,722 | | | | | | | | | | | | | By market: | | | | | | | | | | | Gas | $ | 489 | | | $ | 3,259 | | | $ | 569 | | | $ | (45) | | | $ | 4,272 | | | Electric | 2,262 | | | — | | | 228 | | | (40) | | | 2,450 | | | Revenues from contracts with customers | $ | 2,751 | | | $ | 3,259 | | | $ | 797 | | | $ | (85) | | | $ | 6,722 | | | | | | | | | | | | | Revenues from contracts with customers | $ | 2,751 | | | $ | 3,259 | | | $ | 797 | | | $ | (85) | | | $ | 6,722 | | | Utilities regulatory revenues | 93 | | | 235 | | | — | | | — | | | 328 | | | Other revenues | — | | | — | | | 316 | | | 1 | | | 317 | | | Total revenues | $ | 2,844 | | | $ | 3,494 | | | $ | 1,113 | | | $ | (84) | | | $ | 7,367 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | DISAGGREGATED REVENUES (CONTINUED) | | (Dollars in millions) | | SDG&E | | SoCalGas | | Sempra Infrastructure | | Consolidating adjustments and Parent
and other | | Sempra | | Three months ended June 30, 2021 | | By major service line: | | | | | | | | | | | Utilities | $ | 1,170 | | | $ | 1,062 | | | $ | 17 | | | $ | (25) | | | $ | 2,224 | | | Energy-related businesses | — | | | — | | | 260 | | | (14) | | | 246 | | | Revenues from contracts with customers | $ | 1,170 | | | $ | 1,062 | | | $ | 277 | | | $ | (39) | | | $ | 2,470 | | | | | | | | | | | | | By market: | | | | | | | | | | | Gas | $ | 162 | | | $ | 1,062 | | | $ | 185 | | | $ | (24) | | | $ | 1,385 | | | Electric | 1,008 | | | — | | | 92 | | | (15) | | | 1,085 | | | Revenues from contracts with customers | $ | 1,170 | | | $ | 1,062 | | | $ | 277 | | | $ | (39) | | | $ | 2,470 | | | | | | | | | | | | | Revenues from contracts with customers | $ | 1,170 | | | $ | 1,062 | | | $ | 277 | | | $ | (39) | | | $ | 2,470 | | | Utilities regulatory revenues | 148 | | | 62 | | | — | | | — | | | 210 | | | Other revenues | — | | | — | | | 64 | | | (3) | | | 61 | | | Total revenues | $ | 1,318 | | | $ | 1,124 | | | $ | 341 | | | $ | (42) | | | $ | 2,741 | | | | | | | | | | | | | | Six months ended June 30, 2021 | | By major service line: | | | | | | | | | | | Utilities | $ | 2,386 | | | $ | 2,719 | | | $ | 44 | | | $ | (52) | | | $ | 5,097 | | | Energy-related businesses | — | | | — | | | 529 | | | (15) | | | 514 | | | Revenues from contracts with customers | $ | 2,386 | | | $ | 2,719 | | | $ | 573 | | | $ | (67) | | | $ | 5,611 | | | | | | | | | | | | | By market: | | | | | | | | | | | Gas | $ | 435 | | | $ | 2,719 | | | $ | 397 | | | $ | (48) | | | $ | 3,503 | | | Electric | 1,951 | | | — | | | 176 | | | (19) | | | 2,108 | | | Revenues from contracts with customers | $ | 2,386 | | | $ | 2,719 | | | $ | 573 | | | $ | (67) | | | $ | 5,611 | | | | | | | | | | | | | Revenues from contracts with customers | $ | 2,386 | | | $ | 2,719 | | | $ | 573 | | | $ | (67) | | | $ | 5,611 | | | Utilities regulatory revenues | 269 | | | (87) | | | — | | | — | | | 182 | | | Other revenues | — | | | — | | | 217 | | | (10) | | | 207 | | | Total revenues | $ | 2,655 | | | $ | 2,632 | | | $ | 790 | | | $ | (77) | | | $ | 6,000 | |
REVENUES FROM CONTRACTS WITH CUSTOMERS Remaining Performance Obligations For contracts greater than one year, at June 30, 2022, 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 at June 30, 2022. | | | | | | | | | | | | REMAINING PERFORMANCE OBLIGATIONS(1) | | (Dollars in millions) | | Sempra | | SDG&E | 2022 (excluding first six months of 2022) | $ | 200 | | | $ | 2 | | | 2023 | 384 | | | 4 | | | 2024 | 385 | | | 4 | | | 2025 | 384 | | | 4 | | | 2026 | 382 | | | 4 | | | Thereafter | 4,525 | | | 63 | | Total revenues to be recognized | $ | 6,260 | | | $ | 81 | |
(1) Excludes intercompany transactions. Contract Liabilities from Revenues from Contracts with Customers Activities within Sempra’s and SDG&E’s contract liabilities are presented below. There were no contract liabilities at SoCalGas in the six months ended June 30, 2022 or 2021. As we discuss in Note 11, Sempra Infrastructure drew against and fully exhausted Gazprom’s letters of credit in April 2022 due to Gazprom’s non-renewal of such letters of credit as required under its LNG storage and regasification agreement. Sempra Infrastructure recorded a contract liability for the funds drawn from the letters of credit as payments received in advance. Gazprom has not paid its invoices since March 2022, so funds drawn from the letters of credit have been used to fully offset such nonpayment, which have been reflected as revenue from performance obligations satisfied during the reporting period. We expect that these funds will provide payment security from Gazprom through the end of 2024. | | | | | | | | | | | | | CONTRACT LIABILITIES | | (Dollars in millions) | | 2022 | | 2021 | | Sempra: | | | | | Contract liabilities at January 1 | $ | (278) | | | $ | (207) | | | Revenue from performance obligations satisfied during reporting period | 86 | | | 49 | | | Payments received in advance | (105) | | | (1) | | Contract liabilities at June 30(1) | $ | (297) | | | $ | (159) | | | SDG&E: | | | | | Contract liabilities at January 1 | $ | (83) | | | $ | (87) | | | Revenue from performance obligations satisfied during reporting period | 2 | | | 2 | | Contract liabilities at June 30(1) | $ | (81) | | | $ | (85) | |
(1) Balances at June 30, 2022 include $81 and $4 in Other Current Liabilities and $216 and $77 in Deferred Credits and Other on Sempra’s and SDG&E’s Condensed Consolidated Balance Sheets, respectively. Receivables from Revenues from Contracts with Customers The table below shows receivable balances associated with revenues from contracts with customers on the Condensed Consolidated Balance Sheets. | | | | | | | | | | | | | | RECEIVABLES FROM REVENUES FROM CONTRACTS WITH CUSTOMERS | | | (Dollars in millions) | | | June 30, 2022 | | December 31, 2021 | | | Sempra: | | | | | | Accounts receivable – trade, net | $ | 1,620 | | | $ | 1,886 | | | | Accounts receivable – other, net | 13 | | | 19 | | | Due from unconsolidated affiliates – current(1) | 5 | | | 2 | | | Other long-term assets(2) | 32 | | | 70 | | | | Total | $ | 1,670 | | | $ | 1,977 | | | | SDG&E: | | | | | | Accounts receivable – trade, net | $ | 685 | | | $ | 715 | | | | Accounts receivable – other, net | 11 | | | 9 | | | Due from unconsolidated affiliates – current(1) | 3 | | | 2 | | | Other long-term assets(2) | 17 | | | 25 | | | | Total | $ | 716 | | | $ | 751 | | | | SoCalGas: | | | | | | Accounts receivable – trade, net | $ | 722 | | | $ | 1,084 | | | | Accounts receivable – other, net | 2 | | | 10 | | | Other long-term assets(2) | 15 | | | 45 | | | | Total | $ | 739 | | | $ | 1,139 | | |
(1) Amount is presented net of amounts due to unconsolidated affiliates on the Condensed Consolidated Balance Sheets, when right of offset exists. (2) In connection with the COVID-19 pandemic and at the direction of the CPUC, SDG&E and SoCalGas enrolled residential and small business customers with past-due balances in long-term repayment plans.
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