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Accumulated Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Jun. 30, 2024
Schedule of Changes in AOCI Net of Tax and Reclassifications out of AOCI by Component

The following table presents Dominion Energy’s changes in AOCI (net of tax) and reclassifications out of AOCI by component:

 

 

 

Total Derivative-Hedging Activities(1)(2)

 

 

Investment
Securities(3)

 

 

Pension
and other
postretirement
benefit costs(4)

 

 

Equity Method Investees(5)

 

 

Total

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

(202

)

 

$

(20

)

 

$

(1,522

)

 

$

—

 

 

$

(1,744

)

Other comprehensive income (loss) before
    reclassifications: gains (losses)

 

 

2

 

 

 

7

 

 

 

(16

)

 

 

—

 

 

 

(7

)

Amounts reclassified from AOCI: (gains) losses

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and related charges

 

 

11

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

11

 

Other income (expense)

 

 

—

 

 

 

—

 

 

 

75

 

 

 

—

 

 

 

75

 

Total

 

 

11

 

 

 

—

 

 

 

75

 

 

 

—

 

 

 

86

 

Income tax expense (benefit)

 

 

(2

)

 

 

—

 

 

 

(20

)

 

 

—

 

 

 

(22

)

Total, net of tax

 

 

9

 

 

 

—

 

 

 

55

 

 

 

—

 

 

 

64

 

Net current period other comprehensive
    income (loss)

 

 

11

 

 

 

7

 

 

 

39

 

 

 

—

 

 

 

57

 

Ending balance

 

$

(191

)

 

$

(13

)

 

$

(1,483

)

 

$

—

 

 

$

(1,687

)

Three Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

(250

)

 

$

(26

)

 

$

(1,287

)

 

$

(2

)

 

$

(1,565

)

Other comprehensive income (loss) before
    reclassifications: gains (losses)

 

 

6

 

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

5

 

Amounts reclassified from AOCI: (gains) losses

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and related charges

 

 

10

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

10

 

Other income (expense)

 

 

—

 

 

 

(3

)

 

 

(16

)

 

 

—

 

 

 

(19

)

Total

 

 

10

 

 

 

(3

)

 

 

(16

)

 

 

—

 

 

 

(9

)

Income tax expense (benefit)

 

 

(2

)

 

 

1

 

 

 

4

 

 

 

—

 

 

 

3

 

Total, net of tax

 

 

8

 

 

 

(2

)

 

 

(12

)

 

 

—

 

 

 

(6

)

Net current period other comprehensive
    income (loss)

 

 

14

 

 

 

(3

)

 

 

(12

)

 

 

—

 

 

 

(1

)

Ending balance

 

$

(236

)

 

$

(29

)

 

$

(1,299

)

 

$

(2

)

 

$

(1,566

)
(1)
Comprised entirely of interest rate derivative hedging activities.
(2)
Net of $64 million, $68 million, $79 million and $83 million tax at June 30, 2024, March 31, 2024, June 30, 2023 and March 31, 2023, respectively.
(3)
Net of $3 million, $6 million, $9 million and $6 million tax at June 30, 2024, March 31, 2024, June 30, 2023 and March 31, 2023, respectively.
(4)
Net of $522 million, $538 million, $453 million and $449 million tax at June 30, 2024, March 31, 2024, June 30, 2023 and March 31, 2023, respectively.
(5)
Net of $— million tax at June 30, 2024, March 31, 2024, June 30, 2023 and March 31, 2023, respectively.

 

 

 

Total Derivative-Hedging Activities(1)(2)

 

 

Investment
Securities(3)

 

 

Pension
and other
postretirement
benefit costs(4)

 

 

Equity Method Investees(5)

 

 

Total

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

(216

)

 

$

—

 

 

$

(1,290

)

 

$

—

 

 

$

(1,506

)

Other comprehensive income (loss) before
    reclassifications: gains (losses)

 

 

9

 

 

 

(19

)

 

 

(253

)

 

 

—

 

 

 

(263

)

Amounts reclassified from AOCI: (gains) losses

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and related charges

 

 

22

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

22

 

Other income (expense)

 

 

—

 

 

 

8

 

 

 

81

 

 

 

—

 

 

 

89

 

Total

 

 

22

 

 

 

8

 

 

 

81

 

 

 

—

 

 

 

111

 

Income tax expense (benefit)

 

 

(6

)

 

 

(2

)

 

 

(21

)

 

 

—

 

 

 

(29

)

Total, net of tax

 

 

16

 

 

 

6

 

 

 

60

 

 

 

—

 

 

 

82

 

Net current period other comprehensive
    income (loss)

 

 

25

 

 

 

(13

)

 

 

(193

)

 

 

—

 

 

 

(181

)

Ending balance

 

$

(191

)

 

$

(13

)

 

$

(1,483

)

 

$

—

 

 

$

(1,687

)

Six Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

(249

)

 

$

(44

)

 

$

(1,276

)

 

$

(3

)

 

$

(1,572

)

Other comprehensive income (loss) before
    reclassifications: gains (losses)

 

 

(3

)

 

 

16

 

 

 

—

 

 

 

1

 

 

 

14

 

Amounts reclassified from AOCI: (gains) losses

 

 

 

 

 

 

 

 

 

—

 

 

 

 

Interest and related charges

 

 

21

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

21

 

Other income (expense)

 

 

—

 

 

 

(1

)

 

 

(31

)

 

 

—

 

 

 

(32

)

Total

 

 

21

 

 

 

(1

)

 

 

(31

)

 

 

—

 

 

 

(11

)

Income tax expense (benefit)

 

 

(5

)

 

 

—

 

 

 

8

 

 

 

—

 

 

 

3

 

Total, net of tax

 

 

16

 

 

 

(1

)

 

 

(23

)

 

 

—

 

 

 

(8

)

Net current period other comprehensive
    income (loss)

 

 

13

 

 

 

15

 

 

 

(23

)

 

 

1

 

 

 

6

 

Ending balance

 

$

(236

)

 

$

(29

)

 

$

(1,299

)

 

$

(2

)

 

$

(1,566

)
(1)
Comprised entirely of interest rate derivative hedging activities.
(2)
Net of $64 million, $73 million, $79 million and $83 million tax at June 30, 2024, December 31, 2023, June 30, 2023 and December 31, 2022, respectively.
(3)
Net of $3 million, $(2) million, $9 million and $13 million tax at June 30, 2024, December 31, 2023, June 30, 2023 and December 31, 2022, respectively.
(4)
Net of $522 million, $456 million, $453 million and $445 million tax at June 30, 2024, December 31, 2023, June 30, 2023 and December 31, 2022, respectively.
(5)
Net of $— million tax at June 30, 2024, December 31, 2023, June 30, 2023 and $1 million tax at December 31, 2022, respectively.
Virginia Electric and Power Company  
Schedule of Changes in AOCI Net of Tax and Reclassifications out of AOCI by Component

The following table presents Virginia Power’s changes in AOCI (net of tax) and reclassifications out of AOCI by component:

 

 

 

Total Derivative-Hedging Activities(1)(2)

 

 

Investment
Securities(3)

 

 

Total

 

(millions)

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

22

 

 

$

(3

)

 

$

19

 

Other comprehensive income (loss) before
    reclassifications: gains (losses)

 

 

2

 

 

 

1

 

 

 

3

 

Amounts reclassified from AOCI: (gains) losses

 

 

 

 

 

 

 

Total

 

 

—

 

 

 

—

 

 

 

—

 

Income tax expense (benefit)

 

 

—

 

 

 

1

 

 

 

1

 

Total, net of tax

 

 

—

 

 

 

1

 

 

 

1

 

Net current period other comprehensive income (loss)

 

 

2

 

 

 

2

 

 

 

4

 

Ending balance

 

$

24

 

 

$

(1

)

 

$

23

 

Three Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

7

 

 

$

(3

)

 

$

4

 

Other comprehensive income (loss) before
    reclassifications: gains (losses)

 

 

6

 

 

 

(1

)

 

 

5

 

Amounts reclassified from AOCI: (gains) losses

 

 

 

 

 

 

 

Total

 

 

—

 

 

 

—

 

 

 

—

 

Income tax expense (benefit)

 

 

—

 

 

 

—

 

 

 

—

 

Total, net of tax

 

 

—

 

 

 

—

 

 

 

—

 

Net current period other comprehensive income (loss)

 

 

6

 

 

 

(1

)

 

 

5

 

Ending balance

 

$

13

 

 

$

(4

)

 

$

9

 
(1)
Comprised entirely of interest rate derivative hedging activities.
(2)
Net of $(8) million, $(7) million, $(4) million and $(2) million tax at June 30, 2024, March 31, 2024, June 30, 2023 and March 31, 2023, respectively.
(3)
Net of $— million tax at June 30, 2024 and $1 million tax at March 31, 2024, June 30, 2023, and March 31, 2023, respectively.

 

 

 

Total Derivative-Hedging Activities(1)(2)

 

 

Investment
Securities(3)

 

 

Total

 

(millions)

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

15

 

 

$

1

 

 

$

16

 

Other comprehensive income (loss) before
    reclassifications: gains (losses)

 

 

9

 

 

 

(4

)

 

 

5

 

Amounts reclassified from AOCI: (gains) losses

 

 

 

 

 

 

 

           Other income (expense)

 

 

—

 

 

 

2

 

 

 

2

 

Total

 

 

—

 

 

 

2

 

 

 

2

 

Income tax expense (benefit)

 

 

—

 

 

 

—

 

 

 

—

 

Total, net of tax

 

 

—

 

 

 

2

 

 

 

2

 

Net current period other comprehensive income (loss)

 

 

9

 

 

 

(2

)

 

 

7

 

Ending balance

 

$

24

 

 

$

(1

)

 

$

23

 

Six Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

16

 

 

$

(7

)

 

$

9

 

Other comprehensive income (loss) before
    reclassifications: gains (losses)

 

 

(3

)

 

 

3

 

 

 

—

 

Amounts reclassified from AOCI: (gains) losses

 

 

 

 

 

 

 

Total

 

 

—

 

 

 

—

 

 

 

—

 

Income tax expense (benefit)

 

 

—

 

 

 

—

 

 

 

—

 

Total, net of tax

 

 

—

 

 

 

—

 

 

 

—

 

Net current period other comprehensive income (loss)

 

 

(3

)

 

 

3

 

 

 

—

 

Ending balance

 

$

13

 

 

$

(4

)

 

$

9

 
(1)
Comprised entirely of interest rate derivative hedging activities.
(2)
Net of $(8) million, $(5) million, $(4) million and $(5) million tax at June 30, 2024, December 31, 2023, June 30, 2023 and December 31, 2022, respectively.
(3)
Net of $— million, $— million, $1 million and $2 million tax at June 30, 2024, December 31, 2023, June 30, 2023 and December 31, 2022, respectively.