v3.26.1
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
SEMPRA
Sempra is a holding company whose principal businesses are regulated utilities in California and Texas. Our businesses invest in and operate electric and gas utilities and other energy infrastructure that provide energy services to customers. Sempra has the following three operating and reportable segments, which are managed separately based on services provided, geographic location and regulatory framework:
▪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, which are regulated public utilities.
▪Sempra Texas Utilities holds our equity method 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 equity method investment 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 SI Partners, in which Sempra Infrastructure owns a 70% interest, as well as a holding company and certain services companies. Sempra Infrastructure develops, constructs, operates and invests in energy infrastructure to help provide safe, sustainable and reliable access to cleaner energy in markets in the U.S., Mexico and globally.
Sempra’s CODM is its chief executive officer, who utilizes segment earnings attributable to common shares predominantly in the annual financial planning process to assess financial performance. Sempra’s CODM prioritizes resource allocation to each segment in a manner that aligns with Sempra’s capital expenditures plan.
Amounts labeled as “Parent and other,” which does not meet the definition of an operating or reportable segment, consist primarily of activities of parent organizations.
The following tables present selected information by segment and reconciliations of assets, capital expenditures for PP&E, and earnings attributable to common shares to Sempra’s consolidated totals.
SEGMENT INFORMATION
(Dollars in millions)
June 30,
2026		December 31,
2025
ASSETS
Sempra California$60,978 $60,364 
Sempra Texas Utilities19,317 17,733 
Sempra Infrastructure34,944 32,796 
Segment totals115,239 110,893 
Parent and other1,207 1,084 
Intersegment eliminations(1)
(1,165)(1,099)
Total Sempra$115,281 $110,878 
EQUITY METHOD INVESTMENTS
Sempra Texas Utilities$19,135 $17,601 
Sempra Infrastructure(2)
16 17 
Segment totals/Total Sempra$19,151 $17,618 
Three months ended June 30,Six months ended June 30,
2026202520262025
EQUITY EARNINGS
Equity earnings, before income tax:
Sempra Texas Utilities$2 $1 $4 $3 
Sempra Infrastructure165 168 311 307 
Segment totals167 169 315 310 
Equity earnings, net of income tax:
Sempra Texas Utilities346 209 517 355 
Sempra Infrastructure34 15 82 53 
Segment totals380 224 599 408 
Total Sempra$547 $393 $914 $718 
CAPITAL EXPENDITURES FOR PROPERTY, PLANT AND EQUIPMENT
Sempra California$1,901 $2,315 
Sempra Infrastructure2,784 2,322 
Segment totals4,685 4,637 
Parent and other2 3 
Total Sempra$4,687 $4,640 
(1)     Primarily includes an intersegment loan from Sempra Infrastructure to Parent and other related to deferred income taxes.
(2)     At June 30, 2026 and December 31, 2025, $2,649 and $2,566, respectively, is included in Assets Held for Sale on the Sempra Condensed Consolidated Balance Sheets. The remaining $16 and $17 at June 30, 2026 and December 31, 2025, respectively, represents our investment balance in Cameron LNG JV related to our guarantee under the SDSRA, which we discuss in Note 13.
SEGMENT INFORMATION (CONTINUED)
(Dollars in millions)
Sempra California
Sempra Texas Utilities(1)
Sempra InfrastructureSempra
Three months ended June 30, 2026
Revenues
$2,511 $512 
Operation and maintenance
(995)(229)
Depreciation and amortization(607)(3)
Interest income
5 26 
Interest expense(2)
(256)(10)
Income tax expense(39)(157)
Equity earnings$348 199 
Earnings attributable to noncontrolling interests(141)
Earnings attributable to contingently redeemable noncontrolling interest(4)
Other segment items(3)
(322)(2)37 
Segment earnings attributable to common shares$297 $346 $230 $873 
Parent and other(77)
Earnings attributable to common shares$796 
Three months ended June 30, 2025
Revenues
$2,490 $530 
Operation and maintenance
(1,000)(213)
Depreciation and amortization(574)(78)
Interest income
3 5 
Interest expense(2)
(228)6 
Income tax expense(13)(231)
Equity earnings$210 183 
Earnings attributable to noncontrolling interests(46)
Other segment items(3)
(419)(2)(84)
Segment earnings attributable to common shares$259 $208 $72 $539 
Parent and other(78)
Earnings attributable to common shares$461 
(1)    Substantially all earnings attributable to common shares are from equity earnings.
(2)    Sempra Infrastructure includes net unrealized gains (losses) from undesignated interest rate swaps related to the PA LNG Phase 1 project.
(3)    Includes cost of natural gas, cost of electric fuel and purchased power, franchise fees and other taxes, other income (expense), net, and preferred dividends for Sempra California; O&M and interest expense for Sempra Texas Utilities related to activities at the holding company; and cost of natural gas, energy-related businesses cost of sales, franchise fees and other taxes, and other income (expense), net, for Sempra Infrastructure.
SEGMENT INFORMATION (CONTINUED)
(Dollars in millions)
Sempra California
Sempra Texas Utilities(1)
Sempra InfrastructureSempra
Six months ended June 30, 2026
Revenues
$5,742 $955 
Operation and maintenance
(2,011)(450)
Depreciation and amortization(1,224)(6)
Interest income
7 59 
Interest expense(2)
(500)— 
Income tax expense(128)(171)
Equity earnings$521 393 
Earnings attributable to noncontrolling interests(248)
Earnings attributable to contingently redeemable noncontrolling interest(10)
Other segment items(3)
(869)(4)(30)
Segment earnings attributable to common shares$1,017 $517 $492 $2,026 
Parent and other(193)
Earnings attributable to common shares$1,833 
Six months ended June 30, 2025
Revenues
$5,891 $956 
Operation and maintenance
(2,175)(387)
Depreciation and amortization(1,136)(154)
Interest income
5 24 
Interest expense(2)
(453)(71)
Income tax expense(65)(253)
Equity earnings$358 360 
Earnings attributable to noncontrolling interests(48)
Other segment items(3)
(1,084)(4)(209)
Segment earnings attributable to common shares$983 $354 $218 $1,555 
Parent and other(188)
Earnings attributable to common shares$1,367 
(1)    Substantially all earnings attributable to common shares are from equity earnings.
(2)    Sempra Infrastructure includes net unrealized gains (losses) from undesignated interest rate swaps related to the PA LNG Phase 1 project.
(3)    Includes cost of natural gas, cost of electric fuel and purchased power, franchise fees and other taxes, other income (expense), net, and preferred dividends for Sempra California; O&M and interest expense for Sempra Texas Utilities related to activities at the holding company; and cost of natural gas, energy-related businesses cost of sales, franchise fees and other taxes, and other income (expense), net, for Sempra Infrastructure.
The following table presents revenues by services by segment, reconciled to Sempra’s consolidated revenues.
REVENUES BY SERVICES
(Dollars in millions)
Sempra CaliforniaSempra InfrastructureSempraSempra CaliforniaSempra Infrastructure Sempra
Three months ended June 30, 2026Three months ended June 30, 2025
Revenues from external customers:
Utilities$2,569 $18 $2,442 $18 
Energy-related businesses— 212 — 240 
Total revenues from external customers(1)
2,569 230 $2,799 2,442 258 $2,700 
Other revenues(2):
Utilities(65)— 41 — 
Energy-related businesses— 263 — 259 
Total other revenues(65)263 198 41 259 300 
Intersegment revenues(3):
Utilities7 — 7 — 
Energy-related businesses— 19 — 13 
Total intersegment revenues7 19 26 7 13 20 
Segment revenues$2,511 $512 3,023 $2,490 $530 3,020 
Intersegment eliminations(26)(20)
Revenues$2,997 $3,000 
Six months ended June 30, 2026Six months ended June 30, 2025
Revenues from external customers:
Utilities$5,780 $45 $5,899 $44 
Energy-related businesses— 402 — 438 
Total revenues from external customers(1)
5,780 447 $6,227 5,899 482 $6,381 
Other revenues(2):
Utilities(54)— (21)— 
Energy-related businesses— 479 — 442 
Total other revenues(54)479 425 (21)442 421 
Intersegment revenues(3):
Utilities16 — 13 — 
Energy-related businesses— 29 — 32 
Total intersegment revenues16 29 45 13 32 45 
Segment revenues$5,742 $955 6,697 $5,891 $956 6,847 
Intersegment eliminations(45)(45)
Revenues$6,652 $6,802 
(1)    We did not have revenues from transactions with a single external customer that amounted to 10% or more of Sempra’s total revenues.
(2)    See “Revenues from Sources Other Than Contracts with Customers” in Note 3 of the Notes to Consolidated Financial Statements in the Annual Report for a description of this revenue source, which may be additive or subtractive from period to period.
(3)    See “Transactions with Affiliates” in Note 1 of the Notes to Consolidated Financial Statements in the Annual Report for a description of services provided by one operating segment to another operating segment within Sempra.
SDG&E
SDG&E is a regulated public utility that provides electric service to San Diego and southern Orange counties and natural gas service to San Diego County. SDG&E has one operating and reportable segment.
SDG&E’s CODM is its president, who utilizes earnings attributable to common shares to manage the business, assess performance and allocate resources.
Total assets at SDG&E are $33.1 billion and $32.7 billion at June 30, 2026 and December 31, 2025, respectively. The following table presents selected information for SDG&E’s single segment and reconciliation of earnings attributable to common shares.
SEGMENT INFORMATION
(Dollars in millions)
Three months ended June 30,Six months ended June 30,
2026202520262025
SDG&E:
Revenues from external customers:
Electric$1,204 $856 $2,439 $1,931 
Natural gas183 212 504 571 
Total revenues from external customers(1)
1,387 1,068 2,943 2,502 
Other revenues(2):
Electric(41)179 (48)168 
Natural gas22 15 20 12 
Total other revenues(19)194 (28)180 
Total revenues1,368 1,262 2,915 2,682 
Operation and maintenance(407)(403)(830)(843)
Depreciation and amortization(331)(323)(675)(643)
Interest income3 2 4 2 
Interest expense(152)(139)(299)(274)
Income tax expense(39)(7)(108)(21)
Other segment items(3)
(252)(217)(521)(447)
Earnings attributable to common shares$190 $175 $486 $456 
Capital expenditures for property, plant and equipment$934 $1,270 
(1)    SDG&E did not have revenues from transactions with a single external customer that amounted to 10% or more of its total revenues.
(2)    See “Revenues from Sources Other Than Contracts with Customers” in Note 3 of the Notes to Consolidated Financial Statements in the Annual Report for a description of this revenue source, which may be additive or subtractive from period to period.
(3)    Includes cost of electric fuel and purchased power, cost of natural gas, franchise fees and other taxes, and other income (expense), net.
SOCALGAS
SoCalGas is a regulated public natural gas distribution utility, serving customers throughout most of Southern California and part of central California. SoCalGas has one operating and reportable segment.
Effective April 18, 2026, SoCalGas’ chief operating officer was appointed president on an interim basis and assumed the responsibilities of the CODM. The CODM utilizes earnings attributable to common shares to manage the business, assess performance and allocate resources. SoCalGas’ CODM was previously its chief executive officer.
Total assets at SoCalGas are $27.9 billion and $27.7 billion at June 30, 2026 and December 31, 2025, respectively. The following table presents selected information for SoCalGas’ single segment and reconciliation of earnings attributable to common shares.
SEGMENT INFORMATION
(Dollars in millions)
Three months ended June 30,Six months ended June 30,
2026202520262025
SoCalGas:
Natural gas:
Revenues from external customers(1)
$1,233 $1,421 $2,941 $3,489 
Other revenues(2)
(46)(153)(26)(201)
Total revenues1,187 1,268 2,915 3,288 
Operation and maintenance(619)(622)(1,240)(1,379)
Depreciation and amortization(276)(251)(549)(493)
Interest income2 1 3 3 
Interest expense(104)(89)(201)(179)
Income tax expense— (6)(20)(44)
Other segment items(3)
(83)(217)(377)(669)
Earnings attributable to common shares$107 $84 $531 $527 
Capital expenditures for property, plant and equipment$967 $1,045 
(1)    SoCalGas did not have revenues from transactions with a single external customer that amounted to 10% or more of its total revenues.
(2)    See “Revenues from Sources Other Than Contracts with Customers” in Note 3 of the Notes to Consolidated Financial Statements in the Annual Report for a description of this revenue source, which may be additive or subtractive from period to period.
(3)    Includes cost of natural gas, franchise fees and other taxes, other income (expense), net