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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Commodity Derivative Volumes Table
The following table summarizes net energy derivative volumes.
NET ENERGY DERIVATIVE VOLUMES
(Quantities in millions)
CommodityUnit of measureMarch 31, 2024December 31, 2023
Sempra:
Natural gasMMBtu303 361 
ElectricityMWh— 1 
Congestion revenue rightsMWh33 36 
SDG&E:
Natural gasMMBtu18 17 
Congestion revenue rightsMWh33 36 
SoCalGas:
Natural gasMMBtu210 268 
Notional Amounts of Derivatives Table
The following table presents the net notional amounts of our interest rate derivatives, excluding those in our equity method investments.
INTEREST RATE DERIVATIVES
(Dollars in millions)
 March 31, 2024December 31, 2023
 Notional debtMaturitiesNotional debtMaturities
Sempra:    
Cash flow hedges(1)
$4,451 2024-2048$4,451 2024-2048
(1)    At March 31, 2024 and December 31, 2023, cash flow hedges accrued interest based on a notional amount of $604 and $488, respectively.
The following table presents the net notional amounts of our foreign currency derivatives, excluding those in our equity method investments.
FOREIGN CURRENCY DERIVATIVES
(Dollars in millions)
 March 31, 2024December 31, 2023
 Notional amountMaturitiesNotional amountMaturities
Sempra:    
Other foreign currency derivatives$141 2024-2025$176 2024-2025
Derivative Instruments on the Condensed Consolidated Balance Sheets Table The following tables provide the fair values of derivative instruments on the Condensed Consolidated Balance Sheets, including the amount of cash collateral receivables that were not offset because the cash collateral was in excess of liability positions.
DERIVATIVE INSTRUMENTS ON THE CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in millions)
 March 31, 2024
 
Current assets: Fixed-price contracts and other derivatives(1)
Other long-term assets
Other current
liabilities
Deferred credits and other
Sempra:    
Derivatives designated as hedging instruments:    
Interest rate instruments$22 $201 $— $— 
Foreign exchange instruments— — (9)— 
Derivatives not designated as hedging instruments:    
Commodity contracts not subject to rate recovery233 49 (234)(52)
Associated offsetting commodity contracts(229)(48)229 48 
Commodity contracts subject to rate recovery8 8 (42)(18)
Associated offsetting commodity contracts(3)(3)3 3 
Associated offsetting cash collateral— — 14 12 
Net amounts presented on the balance sheet31 207 (39)(7)
Additional cash collateral for commodity contracts
not subject to rate recovery
87 — — — 
Additional cash collateral for commodity contracts
subject to rate recovery
6 — — — 
Total(2)
$124 $207 $(39)$(7)
SDG&E:    
Derivatives not designated as hedging instruments:    
Commodity contracts subject to rate recovery$7 $8 $(21)$(15)
Associated offsetting commodity contracts(3)(3)3 3 
Associated offsetting cash collateral— — 14 12 
Net amounts presented on the balance sheet4 5 (4)— 
Additional cash collateral for commodity contracts
subject to rate recovery
5 — — — 
Total(2)
$9 $5 $(4)$— 
SoCalGas:    
Derivatives not designated as hedging instruments:    
Commodity contracts subject to rate recovery$1 $— $(21)$(3)
Net amounts presented on the balance sheet1 — (21)(3)
Additional cash collateral for commodity contracts
subject to rate recovery
1 — — — 
Total$2 $— $(21)$(3)
(1)    Included in Other Current Assets for SDG&E and SoCalGas.
(2)    Normal purchase contracts previously measured at fair value are excluded.
DERIVATIVE INSTRUMENTS ON THE CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(Dollars in millions)
 December 31, 2023
Current assets: Fixed-price contracts and other derivatives(1)
Other long-term assetsOther current liabilitiesDeferred credits and other
Sempra:    
Derivatives designated as hedging instruments:    
Interest rate instruments$17 $70 $— $— 
Foreign exchange instruments— — (9)— 
Derivatives not designated as hedging instruments:    
Commodity contracts not subject to rate recovery173 52 (170)(56)
Associated offsetting commodity contracts(169)(51)169 51 
Commodity contracts subject to rate recovery10 8 (228)(9)
Associated offsetting commodity contracts(5)(2)5 2 
Associated offsetting cash collateral— — 12 7 
Net amounts presented on the balance sheet26 77 (221)(5)
Additional cash collateral for commodity contracts
not subject to rate recovery
74 — — — 
Additional cash collateral for commodity contracts
subject to rate recovery
22 — — — 
Total(2)
$122 $77 $(221)$(5)
SDG&E:    
Derivatives not designated as hedging instruments:    
Commodity contracts subject to rate recovery$9 $8 $(18)$(9)
Associated offsetting commodity contracts(5)(2)5 2 
Associated offsetting cash collateral— — 12 7 
Net amounts presented on the balance sheet4 6 (1)— 
Additional cash collateral for commodity contracts
subject to rate recovery
21 — — — 
Total(2)
$25 $6 $(1)$— 
SoCalGas:    
Derivatives not designated as hedging instruments:    
Commodity contracts subject to rate recovery$1 $— $(210)$— 
Net amounts presented on the balance sheet1 — (210)— 
Additional cash collateral for commodity contracts
subject to rate recovery
1 — — — 
Total$2 $— $(210)$— 
(1)    Included in Other Current Assets for SDG&E and SoCalGas.
(2)    Normal purchase contracts previously measured at fair value are excluded.
Cash Flow Hedge Impact on the Condensed Consolidated Statements of Comprehensive Income Table
The following table includes the effects of derivative instruments designated as cash flow hedges on the Condensed Consolidated Statements of Operations and in OCI and AOCI.
CASH FLOW HEDGE IMPACTS
(Dollars in millions)
Pretax gain (loss)
recognized in OCI		Pretax gain (loss) reclassified
from AOCI into earnings
Three months ended March 31, Three months ended March 31,
 20242023Location20242023
Sempra:     
Interest rate instruments$142 $(77)Interest Expense$3 $— 
Interest rate instruments28 (17)
Equity Earnings(1)
5 7 
Foreign exchange instruments1 (6)
Revenues: Energy-
Related Businesses
3 — 
Other Income, Net— (1)
Foreign exchange instruments— (5)
Equity Earnings(1)
2 (1)
Interest rate and foreign
exchange instruments
— 7 Other Income, Net— 6 
Total$171 $(98) $13 $11 
(1)    Equity earnings at our foreign equity method investees are recognized after tax.
Fair Value Hedge Impact on the Condensed Consolidated Statements of Operations Table
The following table summarizes the effects of derivative instruments not designated as hedging instruments on the Condensed Consolidated Statements of Operations.
UNDESIGNATED DERIVATIVE IMPACTS
(Dollars in millions)
  Pretax gain (loss) on derivatives recognized in earnings
  Three months ended March 31,
 Location20242023
Sempra:   
Commodity contracts not subject
to rate recovery
Revenues: Energy-Related
Businesses
$79 $449 
Commodity contracts subject
to rate recovery
Cost of Natural Gas(6)(27)
Commodity contracts subject
to rate recovery
Cost of Electric Fuel
and Purchased Power
(23)9 
Interest rate instrumentInterest Expense— (47)
Total $50 $384 
SDG&E:   
Commodity contracts subject
to rate recovery
Cost of Electric Fuel
and Purchased Power		$(23)$9 
SoCalGas:   
Commodity contracts subject
to rate recovery
Cost of Natural Gas$(6)$(27)