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SEMPRA - SEGMENT INFORMATION
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEMPRA - 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 Cash Flows and Condensed Consolidated Statements of Operations. Amounts labeled as “All other” in the following tables consist primarily of activities of parent organizations.
SEGMENT INFORMATION
(Dollars in millions)
June 30,
2024
December 31,
2023
ASSETS
Sempra California$54,462 $53,430 
Sempra Texas Utilities14,940 14,392 
Sempra Infrastructure21,131 19,430 
All other963 967 
Intersegment receivables(1,023)(1,038)
Total$90,473 $87,181 
EQUITY METHOD AND OTHER INVESTMENTS
Sempra Texas Utilities$14,927 $14,380 
Sempra Infrastructure2,286 2,129 
All other
Total$17,214 $16,510 
Six months ended June 30,
20242023
EXPENDITURES FOR PROPERTY, PLANT & EQUIPMENT
Sempra California$2,212 $2,200 
Sempra Infrastructure1,617 2,078 
All other
Total$3,830 $4,282 
SEGMENT INFORMATION (CONTINUED)
(Dollars in millions)
Three months ended June 30,Six months ended June 30,
2024202320242023
REVENUES
Sempra California$2,625 $2,700 $5,766 $8,115 
Sempra Infrastructure409 660 928 1,856 
Adjustments and eliminations(2)— (2)
Intersegment revenues(1)
(24)(23)(43)(74)
Total$3,011 $3,335 $6,651 $9,895 
DEPRECIATION AND AMORTIZATION
Sempra California$528 $476 $1,049 $944 
Sempra Infrastructure73 70 145 139 
All other
Total$603 $549 $1,197 $1,088 
INTEREST INCOME
Sempra California$$$$10 
Sempra Infrastructure12 21 
All other11 10 
Intercompany eliminations(1)— (1)— 
Total$17 $17 $30 $41 
INTEREST EXPENSE
Sempra California$209 $194 $414 $381 
Sempra Infrastructure— 25 — 120 
All other103 99 203 183 
Intercompany eliminations(1)(1)(1)(1)
Total$311 $317 $616 $683 
INCOME TAX EXPENSE (BENEFIT)
Sempra California$44 $(17)$127 $84 
Sempra Infrastructure(133)201 (24)531 
All other(41)(9)(61)(64)
Total$(130)$175 $42 $551 
EQUITY EARNINGS
Equity earnings, before income tax:
Sempra Texas Utilities$$$$
Sempra Infrastructure 158 151 290 282 
160 153 294 285 
Equity earnings, net of income tax:
Sempra Texas Utilities202 160 385 243 
Sempra Infrastructure71 75 102 79 
273 235 487 322 
Total$433 $388 $781 $607 
EARNINGS (LOSSES) ATTRIBUTABLE TO COMMON SHARES
Sempra California$316 $339 $898 $957 
Sempra Texas Utilities202 160 385 243 
Sempra Infrastructure291 208 422 523 
All other(96)(104)(191)(151)
Total$713 $603 $1,514 $1,572 
(1)    Revenues for reportable segments include intersegment revenues of $5 and $19 for the three months ended June 30, 2024 and $10 and $33 for the six months ended June 30, 2024; $4 and $19 for the three months ended June 30, 2023 and $9 and $65 for the six months ended June 30, 2023 for Sempra California and Sempra Infrastructure, respectively.