REVENUES

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

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 March 31, 2023
By major service line:
Utilities	$	1,765	$	3,841	$	30	$	(38)	$	5,598
Energy-related businesses	—		—		312		(21)		291
Revenues from contracts with customers	$	1,765	$	3,841	$	342	$	(59)	$	5,889
By market:
Gas	$	554	$	3,841	$	204	$	(35)	$	4,564
Electric	1,211		—		138		(24)		1,325
Revenues from contracts with customers	$	1,765	$	3,841	$	342	$	(59)	$	5,889
Revenues from contracts with customers	$	1,765	$	3,841	$	342	$	(59)	$	5,889
Utilities regulatory revenues	(112)		(47)		—		—		(159)
Other revenues	—		—		854		(24)		830
Total revenues	$	1,653	$	3,794	$	1,196	$	(83)	$	6,560
	Three months ended March 31, 2022
By major service line:
Utilities	$	1,501	$	1,912	$	28	$	(29)	$	3,412
Energy-related businesses	—		—		292		(15)		277
Revenues from contracts with customers	$	1,501	$	1,912	$	320	$	(44)	$	3,689
By market:
Gas	$	330	$	1,912	$	229	$	(26)	$	2,445
Electric	1,171		—		91		(18)		1,244
Revenues from contracts with customers	$	1,501	$	1,912	$	320	$	(44)	$	3,689
Revenues from contracts with customers	$	1,501	$	1,912	$	320	$	(44)	$	3,689
Utilities regulatory revenues	(56)		81		—		—		25
Other revenues	—		—		104		2		106
Total revenues	$	1,445	$	1,993	$	424	$	(42)	$	3,820

REVENUES FROM CONTRACTS WITH CUSTOMERS

Remaining Performance Obligations

For contracts greater than one year, at March 31, 2023, 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 March 31, 2023.

REMAINING PERFORMANCE OBLIGATIONS(1)
(Dollars in millions)
	Sempra		SDG&E
2023 (excluding first three months of 2023)	$	279	$	3
2024	303		4
2025	364		4
2026	363		4
2027	363		4
Thereafter	4,153		59
Total revenues to be recognized	$	5,825	$	78

(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 three months ended March 31, 2023 or 2022. As we discuss in Note 16 of the Notes to Consolidated Financial Statements in the Annual Report, Sempra Infrastructure drew against and fully exhausted SEFE’s letters of credit in April 2022 due to SEFE’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.

CONTRACT LIABILITIES
(Dollars in millions)
	2023		2022
Sempra:
Contract liabilities at January 1	$	(252)	$	(278)
Revenue from performance obligations satisfied during reporting period	2		39
Contract liabilities at March 31(1)	$	(250)	$	(239)
SDG&E:
Contract liabilities at January 1	$	(79)	$	(83)
Revenue from performance obligations satisfied during reporting period	1		1
Contract liabilities at March 31(2)	$	(78)	$	(82)

(1)     Balances at March 31, 2023 include $12 in Other Current Liabilities and $238 in Deferred Credits and Other.

(2)     Balances at March 31, 2023 include $4 in Other Current Liabilities and $74 in Deferred Credits and Other.

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)
	March 31, 2023		December 31, 2022
Sempra:
Accounts receivable – trade, net(1)	$	2,417	$	2,291
Accounts receivable – other, net	12		25
Due from unconsolidated affiliates – current(2)	10		9
Other long-term assets(3)	4		9
Total	$	2,443	$	2,334
SDG&E:
Accounts receivable – trade, net(1)	$	859	$	799
Accounts receivable – other, net	11		12
Due from unconsolidated affiliates – current(2)	6		2
Other long-term assets(3)	3		6
Total	$	879	$	819
SoCalGas:
Accounts receivable – trade, net	$	1,422	$	1,295
Accounts receivable – other, net	1		13
Other long-term assets(3)	1		3
Total	$	1,424	$	1,311

(1)     At March 31, 2023 and December 31, 2022, includes $81 and $72, 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 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.