EX-99.2 3 ex99_2x20241231xearningsta.htm EX-99.2

Exhibit 99.2

SEMPRA
Table F
STATEMENTS OF OPERATIONS DATA BY SEGMENT
(Dollars in millions)
Three months ended December 31, 2024			Sempra California						Sempra Texas Utilities(1)						Sempra Infrastructure						Segment Totals						Consolidating Adjustments, Parent & Other						Total
Revenues			$	3,360											$	416					$	3,776					$	(18)					$	3,758
Depreciation and amortization			(548)												(76)						(624)						(2)						(626)
Interest income			2												6						8						6						14
Interest expense(2)			(221)												243						22						(127)						(105)
Income tax (expense) benefit			(94)												97						3						(285)						(282)
Equity earnings			—						$	136					219						355						19						374
Earnings attributable to noncontrolling interests			—						—						(313)						(313)						—						(313)
Other segment items(3)			(1,798)						(1)						(333)						(2,132)						(23)						(2,155)
Earnings (losses) attributable to common shares			$	701					$	135					$	259					$	1,095					$	(430)					$	665
Three months ended December 31, 2023			Sempra California						Sempra Texas Utilities(1)						Sempra Infrastructure						Segment Totals						Consolidating Adjustments, Parent & Other						Total
Revenues			$	2,920											$	586					$	3,506					$	(15)					$	3,491
Depreciation and amortization			(502)												(71)						(573)						(3)						(576)
Interest income			5												18						23						6						29
Interest expense(2)			(205)												(2)						(207)						(107)						(314)
Income tax benefit (expense)			95												(118)						(23)						32						9
Equity earnings			—						$	148					207						355						40						395
Earnings attributable to noncontrolling interests			—						—						(108)						(108)						—						(108)
Other segment items(3)			(1,813)						(2)						(381)						(2,196)						7						(2,189)
Earnings (losses) attributable to common shares			$	500					$	146					$	131					$	777					$	(40)					$	737

(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, operation and maintenance expense (O&M), franchise fees and other taxes, and other income (expense), net, for Sempra California; O&M, interest expense, and income tax (expense) benefit for Sempra Texas Utilities related to activities at the holding company; and cost of natural gas, energy-related businesses cost of sales, O&M, franchise fees and other taxes, and other income (expense), net, for Sempra Infrastructure.

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SEMPRA
Table F (Continued)
STATEMENTS OF OPERATIONS DATA BY SEGMENT
(Dollars in millions)
Year ended December 31, 2024(1)			Sempra California						Sempra Texas Utilities(2)						Sempra Infrastructure						Segment Totals						Consolidating Adjustments, Parent & Other						Total
Revenues			$	11,382											$	1,882					$	13,264					$	(79)					$	13,185
Depreciation and amortization			(2,133)												(297)						(2,430)						(7)						(2,437)
Interest income			14												25						39						22						61
Interest expense(3)			(848)												243						(605)						(444)						(1,049)
Income tax (expense) benefit			(184)												164						(20)						(199)						(219)
Equity earnings			—						$	788					802						1,590						19						1,609
Earnings attributable to noncontrolling interests			—						—						(638)						(638)						—						(638)
Other segment items(4)			(6,385)						(7)						(1,270)						(7,662)						(33)						(7,695)
Earnings (losses) attributable to common shares			$	1,846					$	781					$	911					$	3,538					$	(721)					$	2,817
Year ended December 31, 2023(1)			Sempra California						Sempra Texas Utilities(2)						Sempra Infrastructure						Segment Totals						Consolidating Adjustments, Parent & Other						Total
Revenues			$	13,761											$	3,071					$	16,832					$	(112)					$	16,720
Depreciation and amortization			(1,937)												(281)						(2,218)						(9)						(2,227)
Interest income			24												43						67						22						89
Interest expense(3)			(782)												(129)						(911)						(398)						(1,309)
Income tax benefit (expense)			31												(673)						(642)						152						(490)
Equity earnings			—						$	701					740						1,441						40						1,481
Earnings attributable to noncontrolling interests			—						—						(543)						(543)						—						(543)
Other segment items(4)			(9,350)						(7)						(1,351)						(10,708)						17						(10,691)
Earnings (losses) attributable to common shares			$	1,747					$	694					$	877					$	3,318					$	(288)					$	3,030

(1)     Derived from audited financial statements.

(2)    Substantially all earnings attributable to common shares are from equity earnings.

(3)    Sempra Infrastructure includes net unrealized gains (losses) from undesignated interest rate swaps related to the PA LNG Phase 1 project.

(4)    Includes cost of natural gas, cost of electric fuel and purchased power, O&M, franchise fees and other taxes, other income (expense), net, and preferred dividends for Sempra California; O&M, interest expense, and income tax (expense) benefit for Sempra Texas Utilities related to activities at the holding company; and cost of natural gas, energy-related businesses cost of sales, O&M, franchise fees and other taxes, and other income (expense), net, for Sempra Infrastructure.