Investments (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Available-for-sale Securities [Line Items]

Dominion's decommissioning trust funds are summarized below:



	Amortized Cost		Total Unrealized Gains ⁽¹⁾		Total Unrealized Losses ⁽¹⁾				Fair Value
(millions)
2013
Marketable equity securities:
U.S.:
Large Cap	$	1,183	$	1,194	$	—			$	2,377
Other	49		23		—				72
Marketable debt securities:
Corporate debt instruments	332		16		(3		)		345
U.S. Treasury securities and agency debentures	589		8		(10		)		587
State and municipal	297		11		(5		)		303
Other	3		—		—				3
Cost method investments	106		—		—				106
Cash equivalents and other⁽²⁾	110		—		—				110
Total	$	2,669	$	1,252	$	(18	)	⁽³⁾	$	3,903
2012
Marketable equity securities:
U.S.:
Large Cap	$	1,210	$	732	$	—			$	1,942
Other	40		13		—				53
Marketable debt securities:
Corporate debt instruments	295		30		—				325
U.S. Treasury securities and agency debentures	523		19		(2		)		540
State and municipal	248		26		—				274
Other	6		1		—				7
Cost method investments	117		—		—				117
Cash equivalents and other⁽²⁾	72		—		—				72
Total	$	2,511	$	821	$	(2	)	⁽³⁾	$	3,330


(1)	Included in AOCI and the decommissioning trust regulatory liability as discussed in Note 2.


(2)	Includes pending sales of securities of $11 million and pending purchases of securities of $6 million at December 31, 2013 and 2012, respectively.


(3)	The fair value of securities in an unrealized loss position was $604 million and $195 million at December 31, 2013 and 2012, respectively.

Investments Classified by Contractual Maturity Date

The fair value of Dominion's marketable debt securities held in nuclear decommissioning trust funds at December 31, 2013 by contractual maturity is as follows:



	Amount
(millions)
Due in one year or less	$	128
Due after one year through five years	357
Due after five years through ten years	362
Due after ten years	391
Total	$	1,238

Marketable Securities

Presented below is selected information regarding Dominion's marketable equity and debt securities held in nuclear decommissioning trust funds:



Year Ended December 31,	2013		2012		2011
(millions)
Proceeds from sales	$	1,476	$	1,356	$	1,757
Realized gains⁽¹⁾	157		98		79
Realized losses⁽¹⁾	33		33		92


(1)	Includes realized gains and losses recorded to the decommissioning trust regulatory liability as discussed in Note 2.

Other Than Temporary Impairment Losses On Investment Securities

Dominion recorded other-than-temporary impairment losses on investments held in nuclear decommissioning trust funds as follows:



Year Ended December 31,	2013			2012			2011
(millions)
Total other-than-temporary impairment losses⁽¹⁾	$	31		$	26		$	75
Losses recorded to decommissioning trust regulatory liability	(13		)	(10		)	(24		)
Losses recognized in other comprehensive income (before taxes)	(10		)	(2		)	(3		)
Net impairment losses recognized in earnings	$	8		$	14		$	48


(1)	Amounts include other-than-temporary impairment losses for debt securities of $18 million, $4 million and $6 million at December 31, 2013, 2012 and 2011, respectively.

Investments Accounts Under Equity Method of Accounting

Investments that Dominion accounts for under the equity method of accounting are as follows:



Company	Ownership%		Investment Balance				Description
As of December 31,			2013		2012
(millions)
Blue Racer Midstream LLC	50	%	$	510	$	39	Midstream gas and related services
Fowler I Holdings LLC	50	%	149		158		Wind-powered merchant generation facility
NedPower Mount Storm LLC	50	%	131		137		Wind-powered merchant generation facility
Iroquois Gas Transmission System, LP	24.72	%	105		102		Gas transmission system
Elwood Energy LLC⁽¹⁾	—	%	—		117		Natural gas-fired merchant generation peaking facility
Other⁽²⁾	various		21		5
Total			$	916	$	558

(1) Following the 2013 sale of Elwood, at December 31, 2013, Dominion retained a 0.5% cost method investment. At December 31, 2012, Dominion owned 50% and Elwood was therefore considered an equity method investment.

(2) Dominion has a $50 million commitment to invest in clean power and technology businesses through 2018.

Virginia Electric and Power Company

Schedule of Available-for-sale Securities [Line Items]

Available-For-Sale Securities

Virginia Power's decommissioning trust funds are summarized below:



	Amortized Cost		Total Unrealized Gains ⁽¹⁾		Total Unrealized Losses ⁽¹⁾				Fair Value
(millions)
2013
Marketable equity securities:
U.S.:
Large Cap	$	506	$	514	$	—			$	1,020
Other	25		11		—				36
Marketable debt securities:
Corporate debt instruments	185		8		(2		)		191
U.S. Treasury securities and agency debentures	214		1		(3		)		212
State and municipal	163		4		(4		)		163
Cost method investments	106		—		—				106
Cash equivalents and other⁽²⁾	37		—		—				37
Total	$	1,236	$	538	$	(9	)	⁽³⁾	$	1,765
2012
Marketable equity securities:
U.S.:
Large Cap	$	481	$	298	$	—			$	779
Other	20		7		—				27
Marketable debt securities:
Corporate debt instruments	179		17		—				196
U.S. Treasury securities and agency debentures	231		4		(1		)		234
State and municipal	106		11		—				117
Other	1		—		—				1
Cost method investments	117		—		—				117
Cash equivalents and other⁽²⁾	44		—		—				44
Total	$	1,179	$	337	$	(1	)	⁽³⁾	$	1,515


(1)	Included in AOCI and the decommissioning trust regulatory liability as discussed in Note 2.


(2)	Includes pending sales of securities of $6 million at December 31, 2013 and 2012.


(3)	The fair value of securities in an unrealized loss position was $299 million and $104 million at December 31, 2013 and 2012, respectively

Investments Classified by Contractual Maturity Date

The fair value of Virginia Power's debt securities at December 31, 2013, by contractual maturity is as follows:



	Amount
(millions)
Due in one year or less	$	31
Due after one year through five years	163
Due after five years through ten years	196
Due after ten years	176
Total	$	566

Marketable Securities

Presented below is selected information regarding Virginia Power's marketable equity and debt securities.



Year Ended December 31,	2013		2012		2011
(millions)
Proceeds from sales	$	572	$	626	$	1,030
Realized gains⁽¹⁾	52		42		34
Realized losses⁽¹⁾	14		11		34


(1)	Includes realized gains and losses recorded to the decommissioning trust regulatory liability as discussed in Note 2

Other Than Temporary Impairment Losses On Investment Securities

Virginia Power recorded other-than-temporary impairment losses on investments as follows:



Year Ended December 31,	2013			2012			2011
(millions)
Total other-than-temporary impairment losses⁽¹⁾	$	15		$	11		$	29
Losses recorded to decommissioning trust regulatory liability	(13		)	(10		)	(24		)
Losses recorded in other comprehensive income (before taxes)	(1		)	—			(1		)
Net impairment losses recognized in earnings	$	1		$	1		$	4


(1)	Amounts include other-than-temporary impairment losses for debt securities of $9 million, $2 million and $4 million at December 31, 2013, 2012 and 2011, respectively

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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- Definition

Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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