| REVENUES |
REVENUES We discuss revenue recognition for revenues from contracts with customers and from sources other than contracts with customers in Note 3 of the Notes to Consolidated Financial Statements in the Annual Report. The following tables disaggregate our revenues from contracts with customers by major service line and market. We also provide a reconciliation to total revenues by segment for Sempra. The majority of our revenue is recognized over time. | | | | | | | | | | | | | | | | | | | | | | | | | DISAGGREGATED REVENUES | | (Dollars in millions) | | Sempra | | Sempra California | | Sempra Infrastructure | | Consolidating adjustments and Parent
and other | | Sempra | | Three months ended September 30, 2026 | | By major service line: | | | | | | | | | Utilities | $ | 2,736 | | | $ | 9 | | | $ | (4) | | | $ | 2,741 | | | Energy-related businesses | — | | | 303 | | | (14) | | | 289 | | | Revenues from contracts with customers | $ | 2,736 | | | $ | 312 | | | $ | (18) | | | $ | 3,030 | | | By market: | | | | | | | | | Gas | $ | 1,247 | | | $ | 174 | | | $ | (4) | | | $ | 1,417 | | | Electric | 1,489 | | | 138 | | | (14) | | | 1,613 | | | Revenues from contracts with customers | $ | 2,736 | | | $ | 312 | | | $ | (18) | | | $ | 3,030 | | | | | | | | | | | Revenues from contracts with customers | $ | 2,736 | | | $ | 312 | | | $ | (18) | | | $ | 3,030 | | | Utilities regulatory revenues | (3) | | | — | | | — | | | (3) | | | Other revenues | — | | | 162 | | | 2 | | | 164 | | | Total revenues | $ | 2,733 | | | $ | 474 | | | $ | (16) | | | $ | 3,191 | | | | | Three months ended September 30, 2025 | | By major service line: | | | | | | | | | Utilities | $ | 2,518 | | | $ | 15 | | | $ | (5) | | | $ | 2,528 | | | Energy-related businesses | — | | | 241 | | | (13) | | | 228 | | | Revenues from contracts with customers | $ | 2,518 | | | $ | 256 | | | $ | (18) | | | $ | 2,756 | | | By market: | | | | | | | | | Gas | $ | 1,390 | | | $ | 156 | | | $ | (3) | | | $ | 1,543 | | | Electric | 1,128 | | | 100 | | | (15) | | | 1,213 | | | Revenues from contracts with customers | $ | 2,518 | | | $ | 256 | | | $ | (18) | | | $ | 2,756 | | | | | | | | | | | Revenues from contracts with customers | $ | 2,518 | | | $ | 256 | | | $ | (18) | | | $ | 2,756 | | | Utilities regulatory revenues | 95 | | | — | | | — | | | 95 | | | Other revenues | — | | | 299 | | | 1 | | | 300 | | | Total revenues | $ | 2,613 | | | $ | 555 | | | $ | (17) | | | $ | 3,151 | |
| | | | | | | | | | | | | | | | | | | | | | | | | DISAGGREGATED REVENUES (CONTINUED) | | (Dollars in millions) | | Sempra | | Sempra California | | Sempra Infrastructure | | Consolidating adjustments and Parent
and other | | Sempra | | Nine months ended September 30, 2026 | | By major service line: | | | | | | | | | Utilities | $ | 8,532 | | | $ | 54 | | | $ | (20) | | | $ | 8,566 | | | Energy-related businesses | — | | | 739 | | | (48) | | | 691 | | | Revenues from contracts with customers | $ | 8,532 | | | $ | 793 | | | $ | (68) | | | $ | 9,257 | | | By market: | | | | | | | | | Gas | $ | 4,611 | | | $ | 449 | | | $ | (18) | | | $ | 5,042 | | | Electric | 3,921 | | | 344 | | | (50) | | | 4,215 | | | Revenues from contracts with customers | $ | 8,532 | | | $ | 793 | | | $ | (68) | | | $ | 9,257 | | | | | | | | | | | Revenues from contracts with customers | $ | 8,532 | | | $ | 793 | | | $ | (68) | | | $ | 9,257 | | | Utilities regulatory revenues | (57) | | | — | | | — | | | (57) | | | Other revenues | — | | | 636 | | | 7 | | | 643 | | | Total revenues | $ | 8,475 | | | $ | 1,429 | | | $ | (61) | | | $ | 9,843 | | | | | | | | | | | Nine months ended September 30, 2025 | | By major service line: | | | | | | | | | Utilities | $ | 8,430 | | | $ | 59 | | | $ | (18) | | | $ | 8,471 | | | Energy-related businesses | — | | | 716 | | | (50) | | | 666 | | | Revenues from contracts with customers | $ | 8,430 | | | $ | 775 | | | $ | (68) | | | $ | 9,137 | | | By market: | | | | | | | | | Gas | $ | 5,378 | | | $ | 471 | | | $ | (16) | | | $ | 5,833 | | | Electric | 3,052 | | | 304 | | | (52) | | | 3,304 | | | Revenues from contracts with customers | $ | 8,430 | | | $ | 775 | | | $ | (68) | | | $ | 9,137 | | | | | | | | | | | Revenues from contracts with customers | $ | 8,430 | | | $ | 775 | | | $ | (68) | | | $ | 9,137 | | | Utilities regulatory revenues | 74 | | | — | | | — | | | 74 | | | Other revenues | — | | | 736 | | | 6 | | | 742 | | | Total revenues | $ | 8,504 | | | $ | 1,511 | | | $ | (62) | | | $ | 9,953 | |
| | | | | | | | | | | | | | | | | | | | | | | | | DISAGGREGATED REVENUES | | (Dollars in millions) | | | | | | SDG&E | | SoCalGas | | Three months ended September 30, | | 2026 | | 2025 | | 2026 | | 2025 | | By major service line: | | | | | | | | Revenues from contracts with customers – Utilities | $ | 1,683 | | | $ | 1,349 | | | $ | 1,101 | | | $ | 1,217 | | | By market: | | | | | | | | | Gas | $ | 190 | | | $ | 218 | | | $ | 1,101 | | | $ | 1,217 | | | Electric | 1,493 | | | 1,131 | | | — | | | — | | | Revenues from contracts with customers | $ | 1,683 | | | $ | 1,349 | | | $ | 1,101 | | | $ | 1,217 | | | | | | | | | | | Revenues from contracts with customers | $ | 1,683 | | | $ | 1,349 | | | $ | 1,101 | | | $ | 1,217 | | | Utilities regulatory revenues | (73) | | | 131 | | | 70 | | | (36) | | | Total revenues | $ | 1,610 | | | $ | 1,480 | | | $ | 1,171 | | | $ | 1,181 | | | | | | | | | | | Nine months ended September 30, | | 2026 | | 2025 | | 2026 | | 2025 | | By major service line: | | | | | | | | Revenues from contracts with customers – Utilities | $ | 4,626 | | | $ | 3,851 | | | $ | 4,042 | | | $ | 4,706 | | | By market: | | | | | | | | | Gas | $ | 694 | | | $ | 789 | | | $ | 4,042 | | | $ | 4,706 | | | Electric | 3,932 | | | 3,062 | | | — | | | — | | | Revenues from contracts with customers | $ | 4,626 | | | $ | 3,851 | | | $ | 4,042 | | | $ | 4,706 | | | | | | | | | | | Revenues from contracts with customers | $ | 4,626 | | | $ | 3,851 | | | $ | 4,042 | | | $ | 4,706 | | | Utilities regulatory revenues | (101) | | | 311 | | | 44 | | | (237) | | | Total revenues | $ | 4,525 | | | $ | 4,162 | | | $ | 4,086 | | | $ | 4,469 | |
REVENUES FROM CONTRACTS WITH CUSTOMERS Remaining Performance Obligations For contracts greater than one year, we expect to recognize revenue related to the fixed fee component of the consideration. Sempra’s remaining performance obligations primarily relate to capacity agreements for transmission line projects at SDG&E. SoCalGas did not have any remaining performance obligations for contracts greater than one year at September 30, 2026. At September 30, 2026, SDG&E’s remaining performance obligations for contracts greater than one year totaled $65 million, comprising $1 million in 2026, $4 million in each of 2027 through 2030, and $48 million thereafter. At September 30, 2026, remaining performance obligations for contracts greater than one year within the disposal group that is classified as held for sale totaled $2,921 million, comprising $83 million in 2026, $290 million in 2027, $243 million in 2028, $214 million in 2029, $213 million in 2030, and $1,878 million thereafter. Contract Liabilities from Revenues from Contracts with Customers Activities within Sempra’s and SDG&E’s contract liabilities are presented below. There were no contract liabilities at SoCalGas in the nine months ended September 30, 2026 or 2025. | | | | | | | | | | | | | CONTRACT LIABILITIES | | (Dollars in millions) | | 2026 | | 2025 | | Sempra: | | | | | Contract liabilities at January 1 | $ | (68) | | | $ | (196) | | Revenue from performance obligations satisfied during reporting period(1) | 4 | | | 83 | | Payments received in advance(1) | (1) | | | (1) | | | Reclassification to liabilities held for sale | — | | | 45 | | Contract liabilities at September 30(2) | $ | (65) | | | $ | (69) | | | SDG&E: | | | | | Contract liabilities at January 1 | $ | (68) | | | $ | (72) | | | Revenue from performance obligations satisfied during reporting period | 3 | | | 3 | | Contract liabilities at September 30(2) | $ | (65) | | | $ | (69) | |
(1) Includes activities within the disposal group that is classified as held for sale. (2) Balance at September 30, 2026 includes $4 in Other Current Liabilities and $61 in Deferred Credits and Other. Receivables from Revenues from Contracts with Customers The table below shows receivable balances, net of allowances for credit losses, associated with revenues from contracts with customers on the Condensed Consolidated Balance Sheets. | | | | | | | | | | | | | | RECEIVABLES FROM REVENUES FROM CONTRACTS WITH CUSTOMERS | | | (Dollars in millions) | | | September 30, 2026 | | December 31, 2025 | | | Sempra: | | | | | Accounts receivable – trade, net(1) | $ | 1,573 | | | $ | 1,767 | | | | Accounts receivable – other, net | 15 | | | 22 | | | | Assets held for sale | 87 | | | 77 | | | Other long-term assets(2) | 18 | | | 21 | | | | Total | $ | 1,693 | | | $ | 1,887 | | | | SDG&E: | | | | | Accounts receivable – trade, net(1) | $ | 1,009 | | | $ | 809 | | | | Accounts receivable – other, net | 13 | | | 18 | | | Due from unconsolidated affiliates – current(3) | 11 | | | 11 | | | Other long-term assets(2) | 5 | | | 3 | | | | Total | $ | 1,038 | | | $ | 841 | | | | SoCalGas: | | | | | | Accounts receivable – trade, net | $ | 563 | | | $ | 958 | | | | Accounts receivable – other, net | 2 | | | 4 | | | Other long-term assets(2) | 13 | | | 18 | | | | Total | $ | 578 | | | $ | 980 | | |
(1) At September 30, 2026 and December 31, 2025, includes $190 and $152, respectively, of receivables due from customers that were billed on behalf of Community Choice Aggregators, which are not included in revenues. (2) In 2024, the CPUC directed SDG&E and SoCalGas to offer long-term payment plans to eligible residential customers with past-due balances. (3) Amount is presented net of amounts due to unconsolidated affiliates on the Condensed Balance Sheets when right of offset exists.
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