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Quarterly Financial and Common Stock Data (Unaudited)
12 Months Ended
Dec. 31, 2015
Selected Quarterly Financial Information [Abstract]  
Quarterly Financial and Common Stock Data (Unaudited)
QUARTERLY FINANCIAL AND COMMON STOCK DATA (UNAUDITED)
A summary of the Companies' quarterly results of operations for the years ended December 31, 2015 and 2014 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
 
 
First
Quarter

Second
Quarter

Third
Quarter

Fourth
Quarter

Year

(millions, except per share amounts)
 
 
 
 
 
2015
 
 
 
 
 
Operating revenue
$
3,409

$
2,747

$
2,971

$
2,556

$
11,683

Income from operations
1,002

773

1,123

638

3,536

Net income including noncontrolling interests
540

418

599

366

1,923

Income from continuing operations(1)
536

413

593

357

1,899

Net income attributable to Dominion
536

413

593

357

1,899

Basic EPS:
 
 
 
 
 

Income from continuing operations(1)
0.91

0.70

1.00

0.60

3.21

Net income attributable to Dominion
0.91

0.70

1.00

0.60

3.21

Diluted EPS:
 
 
 
 
 

Income from continuing operations(1)
0.91

0.70

1.00

0.60

3.20

Net income attributable to Dominion
0.91

0.70

1.00

0.60

3.20

Dividends declared per share
0.6475

0.6475

0.6475

0.6475

2.5900

Common stock prices (intraday high-low)
$79.89 -
68.25

$74.34 -
66.52

$76.59 -
66.65

$74.88 -
64.54

$79.89 -
64.54

2014
 
 
 
 
 
Operating revenue
$
3,630

$
2,813

$
3,050

$
2,943

$
12,436

Income from operations
768

394

921

638

2,721

Net income including noncontrolling interests
385

161

531

249

1,326

Income from continuing operations(1)
379

159

529

243

1,310

Net income attributable to Dominion
379

159

529

243

1,310

Basic EPS:
 

 

 

 

 

Income from continuing operations(1)
0.65

0.27

0.91

0.42

2.25

Net income attributable to Dominion
0.65

0.27

0.91

0.42

2.25

Diluted EPS:
 

 

 

 

 

Income from continuing operations(1)
0.65

0.27

0.90

0.42

2.24

Net income attributable to Dominion
0.65

0.27

0.90

0.42

2.24

Dividends declared per share
0.60

0.60

0.60

0.60

2.40

Common stock prices (intraday high-low)
$72.22  -
63.14

$73.75  -
67.06

$71.62 - 64.71

$80.89  -
65.53

$80.89  -
63.14


(1)
Amounts attributable to Dominion's common shareholders.

There were no significant items impacting Dominion's 2015 quarterly results.

Dominion's 2014 results include the impact of the following significant items:
Fourth quarter results include $172 million in after-tax charges associated with the Liability Management Exercise in 2014 and $74 million in after-tax costs related to Virginia Power's settlement offer to incur future ash pond closure costs at certain utility generation facilities.
Second quarter results include $191 million in after-tax charges associated with Virginia legislation enacted in April 2014 relating to the development of a third nuclear unit located at North Anna and offshore wind facilities.
First quarter results include a $193 million after-tax reduction in revenues associated with the repositioning of Dominion's producer services business which was completed in the first quarter of 2014.

Virginia Power
Virginia Power's quarterly results of operations were as follows:
 
 
First
Quarter

Second
Quarter

Third
Quarter

Fourth
Quarter

Year

(millions)
 
 
 
 
 
2015
 
 
 
 
 
Operating revenue
$
2,137

$
1,813

$
2,058

$
1,614

$
7,622

Income from operations
525

481

741

374

2,121

Net income
269

246

385

187

1,087

Balance available for common stock
269

246

385

187

1,087

2014
 

 

 

 

 

Operating revenue
$
1,983

$
1,729

$
2,053

$
1,814

$
7,579

Income from operations
613

205

594

312

1,724

Net income
324

69

314

151

858

Balance available for common stock
318

67

312

148

845


 
Virginia Power's 2015 results include the impact of the following significant items:
Fourth quarter results include a $32 million after-tax charge related to incremental future ash pond and landfill closure costs at certain utility generation facilities.
Second quarter results include a $28 million after-tax charge related to incremental future ash pond and landfill closure costs at certain utility generation facilities due to the enactment of the final CCR rule in April 2015.
First quarter results include a $52 million after-tax write-off of deferred fuel costs associated with Virginia legislation enacted in February 2015.

Virginia Power's 2014 results include the impact of the following significant items:
Fourth quarter results include $74 million in after-tax costs related to Virginia Power's settlement offer to incur future ash pond closure costs at certain utility generation facilities.
Second quarter results include a $191 million after-tax charge associated with Virginia legislation enacted in April 2014 relating to the development of a third nuclear unit located at North Anna and offshore wind facilities.


Dominion Gas
Dominion Gas' quarterly results of operations were as follows:
 
First
Quarter

Second
Quarter

Third
Quarter

Fourth
Quarter

Year

(millions)
 
 
 
 
 
2015
 
 
 
 
 
Operating revenue
$
531

$
395

$
365

$
425

$
1,716

Income from operations
271

153

202

163

789

Net income
161

85

111

100

457

2014
 

 

 

 

 

Operating revenue
$
569

$
428

$
391

$
510

$
1,898

Income from operations
265

154

177

255

851

Net income
164

93

107

148

512


 
Dominion Gas' 2015 results include the impact of the following significant items:
Third quarter results include a $29 million after-tax gain from an agreement to convey shale development rights underneath a natural gas storage field.
First quarter results include a $43 million after-tax gain from agreements to convey shale development rights underneath several natural gas storage fields.

Dominion Gas' 2014 results include the impact of the following significant item:
Fourth quarter results include a $36 million after-tax gain from agreements to convey Marcellus Shale development rights underneath several natural gas storage fields.