Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2023

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

NOTE 27. QUARTERLY FINANCIAL DATA (UNAUDITED)

A summary of the Companies’ quarterly results of operations for the years ended December 31, 2023 and 2022 are as follows. Amounts reflect all adjustments necessary in the opinion of management for a fair statement of the results for the interim periods. Results for interim periods may fluctuate as a result of weather conditions, changes in rates and other factors.

Dominion Energy

	First Quarter		Second Quarter			Third Quarter			Fourth Quarter
(millions)
2023
Operating revenue	$	3,883	$	3,166		$	3,810		$	3,534
Income from continuing operations		1,079		594			1,029			712
Net income from continuing operations including     noncontrolling interests		700		415			698			344
Net income (loss) from discontinued operations including    noncontrolling interest		281		168			(541	)		(71	)
Net income including noncontrolling interests		981		583			157			273
Net income attributable to Dominion Energy		981		583			157			273
Basic EPS:
Net income from continuing operations		0.81		0.47			0.81			0.39
Net income (loss) from discontinued operations		0.34		0.20			(0.65	)		(0.09	)
Net income attributable to Dominion Energy		1.15		0.67			0.16			0.30
Diluted EPS:
Net income from continuing operations		0.81		0.47			0.81			0.39
Net income (loss) from discontinued operations		0.34		0.20			(0.65	)		(0.09	)
Net income attributable to Dominion Energy		1.15		0.67			0.16			0.30
Dividends declared per preferred share (Series A)		—		—			—			—
Dividends declared per preferred share (Series B)		11.625		11.625			11.625			11.625
Dividends declared per preferred share (Series C)		10.875		10.875			10.875			10.875
Dividends declared per common share		0.6675		0.6675			0.6675			0.6675
2022
Operating revenue	$	3,112	$	3,058		$	3,961		$	3,807
Income (loss) from continuing operations		643		(461	)		998			253
Net income (loss) from continuing operations including     noncontrolling interests		279		(659	)		585			222
Net income from discontinued operations including    noncontrolling interest		410		212			150			122
Net income (loss) including noncontrolling interests		689		(447	)		735			344
Net income (loss) attributable to Dominion Energy		689		(447	)		735			344
Basic EPS:
Net income (loss) from continuing operations		0.32		(0.84	)		0.68			0.24
Net income from discontinued operations		0.50		0.26			0.18			0.15
Net income (loss) attributable to Dominion Energy		0.82		(0.58	)		0.86			0.39
Diluted EPS:
Net income (loss) from continuing operations		0.31		(0.84	)		0.68			0.24
Net income from discontinued operations		0.50		0.26			0.18			0.15
Net income (loss) attributable to Dominion Energy		0.81		(0.58	)		0.86			0.39
Dividends declared per preferred share (Series A)		4.375		2.917			—			—
Dividends declared per preferred share (Series B)		11.625		11.625			11.625			11.625
Dividends declared per preferred share (Series C)		10.875		10.875			10.875			10.875
Dividends declared per common share		0.6675		0.6675			0.6675			0.6675

Dominion Energy’s 2023 results include the impact of the following significant items:

•Fourth quarter results include a $323 million after-tax charge for an impairment of certain goodwill associated with the East Ohio and Questar Gas Transactions.

•Third quarter results include $939 million of charges reflecting the recognition of deferred taxes on the outside basis of stock associated with East Ohio, PSNC, Questar Gas and Wexpro meeting the classification as held for sale that will reverse when the sale is completed and a $348 million after-tax gain on the sale of Dominion Energy’s remaining noncontrolling interest in Cove Point.

Dominion Energy’s 2022 results include the impact of the following significant items:

•Fourth quarter results include a $633 million after-tax charge associated with the impairment of certain nonregulated solar generation facilities.

•Second quarter results include a $513 million after-tax loss associated with the sale of Kewaunee, a $142 million after-tax charge in connection with a comprehensive settlement agreement for Virginia fuel expenses and a $134 million after-tax charge for RGGI compliance costs deemed recovered through base rates.

Virginia Power

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
(millions)
2023
Operating revenue	$	2,384	$	2,252	$	2,645	$	2,292
Income from operations		597		554		819		504
Net income		355		334		475		288
2022
Operating revenue	$	2,167	$	2,176	$	2,875	$	2,436
Income from operations		562		237		802		447
Net income		336		42		516		218

Virginia Power’s 2022 results include the impact of the following significant items:

•Second quarter results include a $142 million after-tax charge in connection with a comprehensive settlement agreement for Virginia fuel expenses and a $134 million after-tax charge for RGGI compliance costs deemed recovered through base rates.