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FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Recurring Fair Value Measures
RECURRING FAIR VALUE MEASURES – SEMPRA
(Dollars in millions)
 Level 1Level 2Level 3Total
Fair value at September 30, 2023
Assets:    
Nuclear decommissioning trusts:    
Short-term investments, primarily cash equivalents
$21 $3 $— $24 
Equity securities291 4 — 295 
Debt securities:    
Debt securities issued by the U.S. Treasury and other U.S.
government corporations and agencies
27 16 — 43 
Municipal bonds— 260 — 260 
Other securities— 216 — 216 
Total debt securities27 492 — 519 
Total nuclear decommissioning trusts(1)
339 499 — 838 
Short-term investments held in Rabbi Trust62 — — 62 
Interest rate instruments— 378 — 378 
Foreign exchange instruments— 1 — 1 
Commodity contracts not subject to rate recovery— 12 — 12 
Effect of netting and allocation of collateral(2)
89 — — 89 
Commodity contracts subject to rate recovery— — 18 18 
Effect of netting and allocation of collateral(2)
76 — 6 82 
Support Agreement, net of related guarantee fees— — 18 18 
Total$566 $890 $42 $1,498 
Liabilities:    
Foreign exchange instruments$— $8 $— $8 
Commodity contracts not subject to rate recovery— 13 — 13 
Commodity contracts subject to rate recovery2 156 — 158 
Effect of netting and allocation of collateral(2)
(1)— — (1)
Total$1 $177 $— $178 
(1)    Excludes receivables (payables), net.
(2)    Includes the effect of the contractual ability to settle contracts under master netting agreements and with cash collateral, as well as cash collateral not offset.
RECURRING FAIR VALUE MEASURES – SEMPRA (CONTINUED)
(Dollars in millions)
 Level 1Level 2Level 3Total
Fair value at December 31, 2022
Assets:
Nuclear decommissioning trusts:
Short-term investments, primarily cash equivalents$10 $1 $— $11 
Equity securities293 4 — 297 
Debt securities:
Debt securities issued by the U.S. Treasury and other U.S.
government corporations and agencies
27 13 — 40 
Municipal bonds— 270 — 270 
Other securities— 227 — 227 
Total debt securities27 510 — 537 
Total nuclear decommissioning trusts(1)
330 515 — 845 
Short-term investments held in Rabbi Trust55 — — 55 
Interest rate instruments— 76 — 76 
Commodity contracts not subject to rate recovery— 273 — 273 
Effect of netting and allocation of collateral(2)
451 — — 451 
Commodity contracts subject to rate recovery82 19 35 136 
Effect of netting and allocation of collateral(2)
12 — 6 18 
Support Agreement, net of related guarantee fees— — 17 17 
Total$930 $883 $58 $1,871 
Liabilities:
Foreign exchange instruments$— $8 $— $8 
Interest rate and foreign exchange instruments— 105 — 105 
Commodity contracts not subject to rate recovery— 191 — 191 
Commodity contracts subject to rate recovery— 70 — 70 
Total$— $374 $— $374 
1)    Excludes receivables (payables), net.
(2)    Includes the effect of the contractual ability to settle contracts under master netting agreements and with cash collateral, as well as cash collateral not offset.
RECURRING FAIR VALUE MEASURES – SDG&E
(Dollars in millions)
Level 1Level 2Level 3Total
 Fair value at September 30, 2023
Assets:    
Nuclear decommissioning trusts:    
Short-term investments, primarily cash equivalents
$21 $3 $— $24 
Equity securities291 4 — 295 
Debt securities:    
Debt securities issued by the U.S. Treasury and other U.S.
government corporations and agencies
27 16 — 43 
Municipal bonds— 260 — 260 
Other securities— 216 — 216 
Total debt securities27 492 — 519 
Total nuclear decommissioning trusts(1)
339 499 — 838 
Commodity contracts subject to rate recovery— — 18 18 
Effect of netting and allocation of collateral(2)
74 — 6 80 
Total$413 $499 $24 $936 
Liabilities:    
Commodity contracts subject to rate recovery$2 $— $— $2 
Effect of netting and allocation of collateral(2)
(1)— — (1)
Total$1 $— $— $1 
 Fair value at December 31, 2022
Assets:    
Nuclear decommissioning trusts:    
Short-term investments, primarily cash equivalents
$10 $1 $— $11 
Equity securities293 4 — 297 
Debt securities:    
Debt securities issued by the U.S. Treasury and other U.S.
government corporations and agencies
27 13 — 40 
Municipal bonds— 270 — 270 
Other securities— 227 — 227 
Total debt securities27 510 — 537 
Total nuclear decommissioning trusts(1)
330 515 — 845 
Commodity contracts subject to rate recovery82 3 35 120 
Effect of netting and allocation of collateral(2)
11 — 6 17 
Total$423 $518 $41 $982 
Liabilities:    
Commodity contracts subject to rate recovery$— $1 $— $1 
Total$— $1 $— $1 
(1)    Excludes receivables (payables), net.
(2)    Includes the effect of the contractual ability to settle contracts under master netting agreements and with cash collateral, as well as cash collateral not offset.
RECURRING FAIR VALUE MEASURES – SOCALGAS
(Dollars in millions)
Level 1Level 2Level 3Total
 Fair value at September 30, 2023
Assets:    
Effect of netting and allocation of collateral(1)
$2 $— $— $2 
Total$2 $— $— $2 
Liabilities:    
Commodity contracts subject to rate recovery$— $156 $— $156 
Total$— $156 $— $156 
 Fair value at December 31, 2022
Assets:    
Commodity contracts subject to rate recovery$— $16 $— $16 
Effect of netting and allocation of collateral(1)
1 — — 1 
Total$1 $16 $— $17 
Liabilities:    
Commodity contracts subject to rate recovery$— $69 $— $69 
Total$— $69 $— $69 
(1)    Includes the effect of the contractual ability to settle contracts under master netting agreements and with cash collateral, as well as cash collateral not offset.
Recurring Fair Value Measures Level 3 Rollforward
The table below sets forth reconciliations of changes in the fair value of CRRs and long-term, fixed-price electricity positions classified as Level 3 in the fair value hierarchy for Sempra and SDG&E.
LEVEL 3 RECONCILIATIONS(1)
(Dollars in millions)
 Three months ended September 30,
 20232022
Balance at July 1$20 $33 
Realized and unrealized losses(2)(35)
Allocated transmission instruments1 2 
Settlements(1)33 
Balance at September 30$18 $33 
Change in unrealized gains relating to instruments still held at September 30$1 $3 
Nine months ended September 30,
20232022
Balance at January 1$35 $54 
Realized and unrealized losses(10)(58)
Allocated transmission instruments(1)(4)
Settlements(6)41 
Balance at September 30$18 $33 
Change in unrealized losses relating to instruments still held at September 30$(8)$(15)
(1)    Excludes the effect of the contractual ability to settle contracts under master netting agreements.
The table below sets forth reconciliations of changes in the fair value of Sempra’s Support Agreement for the benefit of CFIN classified as Level 3 in the fair value hierarchy for Sempra.
LEVEL 3 RECONCILIATIONS
(Dollars in millions)
Three months ended September 30,
 20232022
Balance at July 1$23 $16 
Realized and unrealized (losses) gains(1)
(3)2 
Settlements(2)(2)
Balance at September 30(2)
$18 $16 
Change in unrealized (losses) gains relating to instruments still held at September 30$(2)$2 
Nine months ended September 30,
20232022
Balance at January 1$17 $7 
Realized and unrealized gains(1)
7 16 
Settlements(6)(7)
Balance at September 30(2)
$18 $16 
Change in unrealized gains relating to instruments still held at September 30$7 $15 
(1)    Net gains are included in Interest Income and net losses are included in Interest Expense on Sempra’s Condensed Consolidated Statements of Operations.
(2)    Includes $7 in Other Current Assets and $11 in Other Long-term Assets at September 30, 2023 on Sempra’s Condensed Consolidated Balance Sheet.
Schedule of Fair Value Inputs For the CRRs settling from January 1 to December 31, the auction price inputs, at a given location, were in the following ranges for the years indicated below:
CONGESTION REVENUE RIGHTS AUCTION PRICE INPUTS
Settlement yearPrice per MWhMedian price per MWh
2023$(3.09)to$10.71 $(0.56)
2022(3.67)to6.96 (0.70)
Fair Value of Financial Instruments The following table provides the carrying amounts and fair values of certain other financial instruments that are not recorded at fair value on the Condensed Consolidated Balance Sheets.
FAIR VALUE OF FINANCIAL INSTRUMENTS
(Dollars in millions)
 Carrying
amount		Fair value
 Level 1Level 2Level 3Total
September 30, 2023
Sempra:     
Long-term note receivable(1)
$330 $— $— $295 $295 
Long-term amounts due to unconsolidated affiliates308 — 269 — 269 
Total long-term debt(2)
27,657 — 23,765 — 23,765 
SDG&E:     
Total long-term debt(3)
$8,750 $— $7,202 $— $7,202 
SoCalGas:     
Total long-term debt(4)
$6,759 $— $5,953 $— $5,953 
 December 31, 2022
Sempra:     
Long-term note receivable(1)
$318 $— $— $286 $286 
Long-term amounts due to unconsolidated affiliates301 — 263 — 263 
Total long-term debt(2)
24,513 — 21,549 — 21,549 
SDG&E:     
Total long-term debt(3)
$7,800 $— $6,726 $— $6,726 
SoCalGas:     
Total long-term debt(4)
$6,059 $— $5,538 $— $5,538 
(1)    Before allowances for credit losses of $6 and $7 at September 30, 2023 and December 31, 2022, respectively. Excludes unamortized transaction costs of $4 and $5 at September 30, 2023 and December 31, 2022, respectively.
(2)    Before reductions of unamortized discount and debt issuance costs of $326 and $289 at September 30, 2023 and December 31, 2022, respectively, and excluding finance lease obligations of $1,346 and $1,343 at September 30, 2023 and December 31, 2022, respectively.
(3)    Before reductions of unamortized discount and debt issuance costs of $90 and $70 at September 30, 2023 and December 31, 2022, respectively, and excluding finance lease obligations of $1,234 and $1,256 at September 30, 2023 and December 31, 2022, respectively.
(4)    Before reductions of unamortized discount and debt issuance costs of $57 and $48 at September 30, 2023 and December 31, 2022, respectively, and excluding finance lease obligations of $112 and $87 at September 30, 2023 and December 31, 2022, respectively.