SEMPRA - SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEMPRA – SEGMENT INFORMATION

Sempra has three separately managed reportable segments, as follows:

▪Sempra California provides natural gas and electric service to Southern California and part of central California through Sempra’s wholly owned subsidiaries, SDG&E and SoCalGas.

▪Sempra Texas Utilities holds our investment in Oncor Holdings, which owns an 80.25% interest in Oncor, a regulated electric transmission and distribution utility serving customers in the north-central, eastern, western and panhandle regions of Texas; and our indirect 50% interest in Sharyland Holdings L.P., which owns Sharyland Utilities, a regulated electric transmission utility serving customers near the Texas-Mexico border.

▪Sempra Infrastructure includes the operating companies of our subsidiary, SI Partners, as well as a holding company and certain services companies. Sempra Infrastructure develops, builds, operates and invests in energy infrastructure to help enable the energy transition in North American markets and globally. Sempra Infrastructure owns a 70% interest in SI Partners.

The cost of common services shared by the business segments is assigned directly or allocated based on various cost factors, depending on the nature of the service provided. Interest income and expense is recorded on intercompany loans. The loan balances and related interest are eliminated in consolidation.

The following tables show selected information by segment from our Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Cash Flows. Amounts labeled as “All other” in the following tables consist primarily of activities of parent organizations.

SEGMENT INFORMATION
(Dollars in millions)
	March 31, 2024		December 31, 2023
ASSETS
Sempra California	$	54,513	$	53,430
Sempra Texas Utilities	14,673		14,392
Sempra Infrastructure	20,422		19,430
All other	1,016		967
Intersegment receivables	(1,020)		(1,038)
Total	$	89,604	$	87,181
EQUITY METHOD INVESTMENTS
Sempra Texas Utilities	$	14,661	$	14,380
Sempra Infrastructure	2,118		2,129
All other	1		1
Total	$	16,780	$	16,510

SEGMENT INFORMATION (CONTINUED)
(Dollars in millions)
	Three months ended March 31,
	2024		2023
REVENUES
Sempra California	$	3,141	$	5,415
Sempra Infrastructure	519		1,196
Adjustments and eliminations	(1)		—
Intersegment revenues(1)	(19)		(51)
Total	$	3,640	$	6,560
DEPRECIATION AND AMORTIZATION
Sempra California	$	521	$	468
Sempra Infrastructure	72		69
All other	1		2
Total	$	594	$	539
INTEREST INCOME
Sempra California	$	3	$	5
Sempra Infrastructure	5		15
All other	5		4
Total	$	13	$	24
INTEREST EXPENSE
Sempra California	$	205	$	187
Sempra Infrastructure	—		95
All other	100		84
Total	$	305	$	366
INCOME TAX EXPENSE (BENEFIT)
Sempra California	$	83	$	101
Sempra Infrastructure	109		330
All other	(20)		(55)
Total	$	172	$	376
EQUITY EARNINGS
Equity earnings, before income tax:
Sempra Texas Utilities	$	2	$	1
Sempra Infrastructure	132		131
	134		132
Equity earnings, net of income tax:
Sempra Texas Utilities	183		83
Sempra Infrastructure	31		4
	214		87
Total	$	348	$	219
EARNINGS (LOSSES) ATTRIBUTABLE TO COMMON SHARES
Sempra California	$	582	$	618
Sempra Texas Utilities	183		83
Sempra Infrastructure	131		315
All other	(95)		(47)
Total	$	801	$	969
EXPENDITURES FOR PROPERTY, PLANT & EQUIPMENT
Sempra California	$	1,143	$	1,082
Sempra Infrastructure	790		744
All other	—		4
Total	$	1,933	$	1,830

(1)    Revenues for reportable segments include intersegment revenues of $5 and $14 for the three months ended March 31, 2024 and $5 and $46 for the three months ended March 31, 2023 for Sempra California and Sempra Infrastructure, respectively.