XML 50 R42.htm IDEA: XBRL DOCUMENT v3.23.3
Investments (Tables)
 3 Months Ended
Mar. 31, 2023
Equity and Debt Securities and Cash Equivalents and Cost Method Investments in Decommissioning Trust Funds The Companies' decommissioning trust funds are summarized below:

 

 

Dominion Energy

 

 

Virginia Power

 

 

Amortized
Cost

 

Total
Unrealized
Gains

 

Total
Unrealized
Losses

 

 

Allowance for Credit Losses

 

Fair
Value

 

 

Amortized
Cost

 

Total
Unrealized
Gains

 

Total
Unrealized
Losses

 

 

Allowance for Credit Losses

 

Fair
Value

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities:(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

$

1,392

 

$

2,708

 

$

(25

)

 

 

 

$

4,075

 

 

$

867

 

$

1,407

 

$

(22

)

 

 

 

$

2,252

 

Fixed income securities:(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt
   instruments

 

586

 

 

3

 

 

(46

)

 

$

—

 

 

543

 

 

 

360

 

 

2

 

 

(33

)

 

$

—

 

 

329

 

Government
   securities

 

1,299

 

 

12

 

 

(42

)

 

 

—

 

 

1,269

 

 

 

709

 

 

7

 

 

(19

)

 

 

—

 

 

697

 

Common/
   collective
   trust funds

 

74

 

 

—

 

 

—

 

 

 

—

 

 

74

 

 

 

54

 

 

—

 

 

—

 

 

 

—

 

 

54

 

Insurance contracts

 

232

 

 

—

 

 

—

 

 

 

 

 

232

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents
   and other(3)

 

69

 

 

—

 

 

—

 

 

 

—

 

 

69

 

 

 

28

 

 

—

 

 

—

 

 

 

—

 

 

28

 

Total

$

3,652

 

$

2,723

 

$

(113

)

(4)

$

—

 

$

6,262

 

 

$

2,018

 

$

1,416

 

$

(74

)

(4)

$

—

 

$

3,360

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities:(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

$

1,378

 

$

2,501

 

$

(46

)

 

 

 

$

3,833

 

 

$

858

 

$

1,304

 

$

(35

)

 

 

 

$

2,127

 

Fixed income securities:(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt
   instruments

 

640

 

 

1

 

 

(65

)

 

$

—

 

 

576

 

 

 

406

 

 

1

 

 

(47

)

 

$

—

 

 

360

 

Government
   securities

 

1,252

 

 

4

 

 

(70

)

 

 

—

 

 

1,186

 

 

 

664

 

 

2

 

 

(35

)

 

 

—

 

 

631

 

Common/
   collective
   trust funds

 

98

 

 

—

 

 

—

 

 

 

—

 

 

98

 

 

 

61

 

 

—

 

 

—

 

 

 

—

 

 

61

 

Insurance contracts

 

221

 

 

—

 

 

—

 

 

 

 

 

221

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents
   and other(3)

 

43

 

 

—

 

 

—

 

 

 

—

 

 

43

 

 

 

23

 

 

—

 

 

—

 

 

 

—

 

 

23

 

Total

$

3,632

 

$

2,506

 

$

(181

)

(4)

$

—

 

$

5,957

 

 

$

2,012

 

$

1,307

 

$

(117

)

(4)

$

—

 

$

3,202

 

 

(1)
Unrealized gains and losses on equity securities are included in other income (expense) and the nuclear decommissioning trust regulatory liability.
(2)
Unrealized gains and losses on fixed income securities are included in AOCI and the nuclear decommissioning trust regulatory liability. Changes in allowance for credit losses are included in other income (expense).
(3)
Dominion Energy includes pending sales of securities of $33 million and $42 million at March 31, 2023 and December 31, 2022, respectively. Virginia Power includes pending sales of securities of $17 million and $24 million at March 31, 2023, and December 31, 2022, respectively.
(4)
Dominion Energy's fair value of securities in an unrealized loss position was $1.2 billion and $1.6 billion at March 31, 2023 and December 31, 2022, respectively. Virginia Power's fair value of securities in an unrealized loss position was $627 million and $946 million at March 31, 2023 and December 31, 2022, respectively.
The portion of unrealized gains and losses that relates to equity securities held within Dominion Energy and Virginia Power’s nuclear
Unrealized Gain Loss on Equity

The portion of unrealized gains and losses that relates to equity securities held within Dominion Energy and Virginia Power’s nuclear decommissioning trusts is summarized below:

 

 

 

 

 

 

 

 

 

 

Dominion Energy

 

 

Virginia Power

 

Three Months Ended March 31,

 

2023

 

 

2022

 

 

2023

 

 

2022

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

Net gains (losses) recognized during the period

 

$

226

 

 

$

(206

)

 

$

116

 

 

$

(102

)

Less: Net (gains) losses recognized during the period
   on securities sold during the period

 

 

2

 

 

 

(1

)

 

 

1

 

 

 

(4

)

Unrealized gains (losses) recognized during the period
   on securities still held at period end(1)

 

$

228

 

 

$

(207

)

 

$

117

 

 

$

(106

)
Investments Classified by Contractual Maturity Date

The fair value of Dominion Energy and Virginia Power’s fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds at March 31, 2023 by contractual maturity is as follows:

 

 

Dominion Energy

 

 

Virginia Power

 

(millions)

 

 

 

 

 

 

Due in one year or less

 

$

90

 

 

$

58

 

Due after one year through five years

 

 

500

 

 

 

274

 

Due after five years through ten years

 

 

420

 

 

 

245

 

Due after ten years

 

 

876

 

 

 

503

 

Total

 

$

1,886

 

 

$

1,080

 
Marketable Securities

Presented below is selected information regarding Dominion Energy and Virginia Power’s equity and fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds.

 

 

 

 

 

 

 

 

 

 

Dominion Energy

 

 

Virginia Power

 

Three Months Ended March 31,

 

2023

 

 

2022

 

 

2023

 

 

2022

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

Proceeds from sales

 

$

544

 

 

$

814

 

 

$

373

 

 

$

392

 

Realized gains(1)

 

 

21

 

 

 

40

 

 

 

17

 

 

 

16

 

Realized losses(1)

 

 

41

 

 

 

54

 

 

 

31

 

 

 

19

 

 

(1)
Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.