OTC: SOCGM
SOUTHERN CALIFORNIA GAS COCIK 0000092108 · SIC 4922 · Natural Gas Distribution
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Southern California Gas Co offers First Mortgage Bonds, Series GGG, due 2036; size and coupon TBD
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Latest financial statements
From 10-Q filed Nov 5, 2026 (period ending Sep 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Statements of Operations
(Dollars in millions)
| Description | Three months ended September 30, 2026 (unaudited) | Three months ended September 30, 2025 | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|---|---|
| Operating revenues: | ||||
| Electric | 1,395 | 1,264 | 3,786 | 3,362 |
| Natural gas | 215 | 216 | 739 | 800 |
| Total operating revenues | 1,610 | 1,480 | 4,525 | 4,162 |
| Operating expenses: | ||||
| Cost of electric fuel and purchased power | 168 | 135 | 397 | 314 |
| Cost of natural gas | 43 | 44 | 155 | 175 |
| Operation and maintenance | 438 | 451 | 1,268 | 1,294 |
| Regulatory disallowances, net | (104) | — | (104) | — |
| Depreciation and amortization | 353 | 334 | 1,028 | 977 |
| Franchise fees and other taxes | 137 | 116 | 379 | 324 |
| Total operating expenses | 1,035 | 1,080 | 3,123 | 3,084 |
| Operating income | 575 | 400 | 1,402 | 1,078 |
| Other income, net | 24 | 32 | 86 | 103 |
| Interest income | 1 | — | 5 | 2 |
| Interest expense | (148) | (141) | (447) | (415) |
| Income before income taxes | 452 | 291 | 1,046 | 768 |
| Income tax (expense) benefit | (76) | 33 | (184) | 12 |
| Net income/Earnings attributable to common shares | 376 | 324 | 862 | 780 |
Condensed Consolidated Balance Sheets
(Dollars in millions)
| Description | September 30, 2026 | September 30, 2026 | September 30, 2026 | September 30, 2026 |
|---|---|---|---|---|
| Current assets | ||||
| Other current assets | ||||
| Sempra: | ||||
| Derivatives designated as hedging instruments: | ||||
| Interest rate instruments | 31 | — | ||
| Foreign exchange instruments | — | (2) | ||
| Derivatives not designated as hedging instruments: | ||||
| Interest rate instruments | 287 | — | ||
| Foreign exchange instruments | 33 | 5 | — | — |
| Commodity contracts not subject to rate recovery | 70 | (9) | ||
| Associated offsetting commodity contracts | (3) | 3 | ||
| Commodity contracts subject to rate recovery | 25 | 18 | (64) | (28) |
| Associated offsetting commodity contracts | (20) | (5) | 20 | 5 |
| Associated offsetting cash collateral | — | — | 17 | — |
| Net amounts presented on the balance sheet | 38 | 390 | 13 | (27) |
| Additional cash collateral for commodity contracts not subject to rate recovery | 69 | — | ||
| Additional cash collateral for commodity contracts subject to rate recovery | 32 | — | — | — |
| Total | 70 | 459 | 13 | (27) |
| SDG&E: | ||||
| Derivatives not designated as hedging instruments: | ||||
| Commodity contracts subject to rate recovery | 6 | 14 | (6) | (2) |
| Associated offsetting commodity contracts | (2) | (2) | 2 | 2 |
| Associated offsetting cash collateral | — | — | 4 | — |
| Net amounts presented on the balance sheet | 4 | 12 | — | — |
| Additional cash collateral for commodity contracts subject to rate recovery | 31 | — | — | — |
| Total | 35 | 12 | — | — |
| SoCalGas: | ||||
| Derivatives not designated as hedging instruments: | ||||
| Commodity contracts subject to rate recovery | 19 | 4 | (58) | (26) |
| Associated offsetting commodity contracts | (18) | (3) | 18 | 3 |
| Associated offsetting cash collateral | — | — | 13 | — |
| Net amounts presented on the balance sheet | 1 | 1 | (27) | (23) |
| Additional cash collateral for commodity contracts subject to rate recovery | 1 | — | — | — |
| Total | 2 | 1 | (27) | (23) |
Condensed Statements of Cash Flows
(Dollars in millions)
| Description | Nine months ended September 30, 2026 (unaudited) | Nine months ended September 30, 2025 |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | 862 | 780 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Regulatory disallowances, net | (104) | — |
| Depreciation and amortization | 1,028 | 977 |
| Deferred income taxes and investment tax credits | 71 | (26) |
| Bad debt expense | 46 | 39 |
| Other | 22 | (1) |
| Net change in working capital components | (18) | (321) |
| Changes in noncurrent assets and liabilities, net | (1) | (105) |
| Net cash provided by operating activities | 1,906 | 1,343 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Expenditures for property, plant and equipment | (1,599) | (1,811) |
| Purchases of nuclear decommissioning trust assets | (752) | (672) |
| Proceeds from sales of nuclear decommissioning trust assets | 772 | 709 |
| Other | 9 | 12 |
| Net cash used in investing activities | (1,570) | (1,762) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Common dividends paid | (300) | — |
| Issuances of debt (maturities greater than 90 days) | 1,096 | 848 |
| Payments on debt (maturities greater than 90 days) and finance leases | (787) | (32) |
| Decrease in short-term debt, net | (340) | (390) |
| Debt issuance costs | (10) | (7) |
| Net cash (used in) provided by financing activities | (341) | 419 |
| Decrease in cash and cash equivalents | (5) | — |
| Cash and cash equivalents, January 1 | 7 | — |
| Cash and cash equivalents, September 30 | 2 | — |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
| Interest payments, net of amounts capitalized | 406 | 355 |
| Income tax payments, net of refunds | 120 | 23 |
| SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES | ||
| Accrued capital expenditures for PP&E | 193 | 206 |
| Increase in finance lease obligations capitalized to PP&E | 10 | 8 |
Amounts as printed on the EDGAR/iXBRL face — (Dollars in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗