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Equity (Tables)
Nov. 18, 2019
Schedule of Accumulated Other Comprehensive Income (Loss)
Presented in the table below is a summary of AOCI by component:
 
                                                               
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At December 31,
 
2018
 
  
2017
 
(millions)
 
   
 
Dominion Energy
 
 
 
  
 
 
Net deferred losses on derivatives-hedging activities, net of $79 and $188 tax
 
$
(234
)
  $
(301
 )
Net unrealized gains on nuclear decommissioning trust funds, net of $— and $(419) tax
 
 
2
 
    
747
 
Net unrecognized pension and other postretirement benefit costs, net of $519 and $692 tax
 
 
(1,465
)
   
(1,101
 )
Other comprehensive loss from equity method investees, net of $— and $2 tax
 
 
(2
)
   
(3
 )
                 
Total AOCI, including noncontrolling interest
 
$
(1,699
)
  $
(658
 )
                 
Less other comprehensive income attributable to noncontrolling interest
 
 
1
 
    
1
 
                 
Total AOCI, excluding noncontrolling interest
 
$
(1,700
)
  $
(659
 )
                 
Virginia Power
 
 
 
  
 
 
Net deferred losses on derivatives-hedging activities, net of $4 and $8 tax
 
$
(13
)
  $
(12
 )
Net unrealized gains on nuclear decommissioning trust funds, net of $— and $(47) tax
 
 
1
 
    
74
 
                 
Total AOCI
 
$
(12
)
  $
62
 
                 
Dominion Energy Gas
 
 
 
  
 
 
Net deferred losses on derivatives-hedging activities, net of $8 and $15 tax
 
$
(25
)
   $
(23
 )
Net unrecognized pension costs, net of $56 and $59 tax
 
 
(144
)
   
(75
 )
                 
Total AOCI
 
$
(169
)
   $
(98
 )
                 
 
 
 
 
 
 
 
 
Dominion Energy
The following table presents Dominion Energy’s changes in AOCI by component, net of tax: 
                                                                                                                                             
 
Deferred gains
and losses on
derivatives-
hedging
activities
 
 		  
Unrealized
gains and
losses on
investment
securities
 
 
  
Unrecognized
pension and
other
postretirement
benefit costs
   
Other
comprehensive
loss from
equity
 
method
investees
   
Total
 
(millions)
  
   
   
   
   
 
Year Ended December 31, 2018
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
Beginning balance
 
$
(302
)
  
$
 
747
 
  
$
(1,101
)
  
$
 
(3
)
 
$
(659
)
Other comprehensive income before reclassifications: gains
 
(losses)
 
 
  
 
30
 
  
 
(18
)
 
 
(215
)
 
 
1
 
  
 
(202
)
Amounts reclassified from AOCI: (gains) losses
(1)
  
 
102
 
  
 
5
 
  
 
78
 
  
 
—
 
  
 
185
 
                                         
Net current period other comprehensive income (loss)
 
 
132
 
  
 
(13
)
 
 
(137
)
 
 
1
 
  
 
(17
)
                                         
Cumulative-effect of changes in accounting principle
 
 
(64
)
 
 
(732
)
 
 
(227
)
 
 
—
 
  
 
(1,023
)
Less other comprehensive income (loss) attributable to
 
noncontrolling
interest
 
 
1
 
  
 
—
 
  
 
—
 
  
 
—
 
  
 
1
 
                                         
Ending balance
 
$
(235
)
  
$
2
 
  
$
(1,465
)
 
$
(2
)
 
$
(1,700
)
                                         
Year Ended December 31, 2017
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
Beginning balance
  $
(280
 )   $
569
    $
(1,082
 )   $
(6
 )   $
(799
 )
Other comprehensive income before reclassifications: gains (losses)
   
8
     
215
     
(69
 )    
3
     
157
 
Amounts reclassified from AOCI: (gains) losses
(1)
    
(29
 )    
(37
 )    
50
     
—
     
(16
 )
                                         
Net current period other comprehensive income (loss)
   
(21
 )    
178
     
(19
 )    
3
     
141
 
                                         
Less other comprehensive income (loss) attributable to
 
noncontrolling
interest
   
1
     
—
     
—
     
—
     
1
 
                                         
Ending balance
  $
(302
 )   $
747
    $
(1,101
 )   $
(3
 )   $
(659
 )
                                         
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
See table below for details about these reclassifications.
 
 
 
 
 
 
 
 
 
 
 
Reclassification out of Accumulated Other Comprehensive Income
The following table presents Dominion Energy’s reclassifications out of AOCI by component:
             
Details about AOCI components
 
Amounts
 
 
 
 
reclassified from
 
 
 
 
AOCI
   
Affected line item in the Consolidated Statements of
Income
(millions)
 
   
Year Ended December 31, 2018
 
 
 
  
Deferred (gains) and losses on derivatives-hedging activities:
 
 
 
  
Commodity contracts
 
$
                 90
 
  
Operating revenue
 
 
(14
)
 
Electric fuel and other energy-related purchases
Interest rate contracts
 
 
48
 
  
Interest and related charges
Foreign currency contracts
 
 
13
 
  
Other Income
             
Total
 
 
137
 
  
Tax
 
 
(35
)
 
Income tax expense
             
Total, net of tax
 
$
102
 
  
             
Unrealized (gains) and losses on investment securities:
 
 
 
  
Realized (gain) loss on sale of securities
 
$
7
 
  
Other income
             
Total
 
 
7
 
  
Tax
 
 
(2
)
 
Income tax expense
             
Total, net of tax
 
$
5
 
  
             
Unrecognized pension and other postretirement benefit costs:
 
 
 
  
Amortization of prior-service costs (credits)
 
$
(21
)
 
Other income
Amortization of actuarial losses
 
 
120
 
  
Other income
             
Total
 
 
99
 
  
             
Tax
 
 
(21
)
 
Income tax expense
             
Total, net of tax
 
$
78
 
  
             
Year Ended December 31, 2017
 
 
 
  
Deferred (gains) and losses on derivatives-hedging activities:
 
 
 
  
Commodity contracts
  $
(81
 )  
Operating revenue
   
2
   
Purchased gas
Interest rate contracts
   
52
   
Interest and related charges
Foreign currency contracts
   
(20
 )  
Other Income
             
Total
   
(47
 )  
Tax
   
18
   
Income tax expense
             
Total, net of tax
  $
(29
 )  
             
Unrealized (gains) and losses on investment securities:
   
   
Realized (gain) loss on sale of securities
  $
(81
 )  
Other income
Impairment
   
23
   
Other income
             
Total
   
(58
 )  
Tax
   
21
   
Income tax expense
             
Total, net of tax
  $
(37
 )  
             
Unrecognized pension and other postretirement benefit costs:
   
   
Prior-service costs (credits)
  $
(21
 )  
Other income
Actuarial losses
   
103
   
Other income
             
Total
   
82
   
Tax
   
(32
 )  
Income tax expense
             
Total, net of tax
  $
50
   
             
 
 
 
 
 
 
 
 
 
 
 
Summary of Restricted Stock Activity The following table provides a summary of restricted stock activity for the years ended December 31, 2018, 2017 and 2016:
                 
 
Shares
 
  
 
 
 
 
Weighted
 -
 average Grant
 
 
 
 
Date Fair Value
 
 
            (thousands)            
    
 
Nonvested at December 31, 2015
   
855
   
 
 $
66.16
 
Granted
   
372
     
71.67
 
Vested
   
(301
 )    
56.83
 
Cancelled and forfeited
   
(40
 )    
71.75
 
                 
Nonvested at December 31, 2016
   
886
    $
71.40
 
Granted
   
454
     
74.24
 
Vested
   
(287
 )    
68.90
 
Cancelled and forfeited
   
(10
 )    
72.37
 
                 
Nonvested at December 31, 2017
   
1,043
    $
73.32
 
Granted
 
 
534
 
  
 
72.92
 
Vested
 
 
(316
)
 
 
73.59
 
Cancelled and forfeited
 
 
(53
)
 
 
74.25
 
                 
Nonvested at December 31, 2018
 
 
1,208
 
  
$
73.03
 
                 
 
 
 
 
 
 
 
 
Virginia Electric and Power Company  
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table presents Virginia Power’s changes in AOCI by component, net of tax:
                                                                                                       
 
Deferred gains and
losses on
derivatives-hedging

activities
    
Unrealized gains
and losses on
investment
securities
   
Total
 
(millions)
 
 
 
 
 
 
Year Ended December 31, 2018
 
 
 
  
 
 
  
 
 
Beginning balance
 
$
(12
)
  
$
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
74
 
  
$
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
62
 
Other comprehensive income before reclassifications: gains (losses)
 
 
1
 
  
 
—
 
  
 
1
 
Amounts reclassified from AOCI: (gains) losses
(1)
  
 
1
 
  
 
—
 
  
 
1
 
                         
Net current period other comprehensive income (loss)
 
 
2
 
  
 
—
 
  
 
2
 
                         
Cumulative-effect of changes in accounting principle
 
 
(3
)
 
 
(73
)
 
 
(76
)
                         
Ending balance
 
$
(13
)
 
$
1
 
  
$
(12
)
                         
Year Ended December 31, 2017
 
 
 
  
 
 
  
 
 
Beginning balance
  $
(8
 )   $
54
    $
46
 
Other comprehensive income before reclassifications: gains (losses)
   
(5
 )    
24
     
19
 
Amounts reclassified from AOCI: gains (losses)
(1)
    
1
     
(4
 )    
(3
 )
                         
Net current period other comprehensive income (loss)
   
(4
 )    
20
     
16
 
                         
Ending balance
  $
(12
 )   $
74
    $
62
 
                         
 
 
 
 
 
 
 
 
 
 
 
 
(1)
See table below for details about these reclassifications.
 
 
 
 
 
 
 
Reclassification out of Accumulated Other Comprehensive Income
The following table presents Virginia Power’s reclassifications out of AOCI by component:
 
             
Details about AOCI components
  
Amounts
reclassified from
AOCI
   
Affected line item in the Consolidated Statements of
Income
(millions)
 
   
Year Ended December 31, 2018
 
 
 
  
(Gains) losses on cash flow hedges:
   
   
Interest rate contracts
 
$
 
 
 
 
 
 
 
 
1
  
 
  
Interest and related charges
             
Total
 
 
1
 
  
Tax
   
—
   
Income tax expense
             
Total, net of tax
 
$
1
 
  
             
Year Ended December 31, 2017
 
 
 
  
(Gains) losses on cash flow hedges:
   
   
Interest rate contracts
  $
1
   
Interest and related charges
             
Total
   
1
   
Tax
   
—
   
Income tax expense
             
Total, net of tax
  $
1
   
             
Unrealized (gains) and losses on investment securities:
   
   
Realized (gain) loss on sale of securities
  $
(9
 )  
Other income
Impairment
   
2
   
Other income
             
Total
   
(7
 )  
Tax
   
3
   
Income tax expense
             
Total, net of tax
  $
(4
 )  
             
 
 
 
 
 
 
 
 
Dominion Energy Gas Holdings, LLC  
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table presents Dominion Energy Gas’ changes in AOCI by component, net of tax:
 
 
                                                                                                       
 
 
 
Deferred gains and
losses on
derivatives-hedging

activities
  
 
 
 
Unrecognized
pension and other
postretirement
benefit costs
 
 
 
 
 
Total
 
(millions)
 
   
   
 
Year Ended December 31, 2018
 
 
 
  
 
 
  
 
 
Beginning balance
 
$
(23
)
 
$
(75
)
 
$
(98
)
Other comprehensive income before reclassifications: gains (losses)
 
 
(16
)
  
 
(52
)
 
 
(68
)
Amounts reclassified from AOCI: (gains) losses
(1)
  
 
19
 
  
 
4
 
  
 
23
 
                         
Net current period other comprehensive income (loss)
 
 
3
 
  
 
(48
)
 
 
(45
)
                         
Cumulative-effect of changes in accounting principle
 
 
(5
)
 
 
(21
)
 
 
(26
)
                         
Ending balance
 
$
(25
)
  
$
(144
)
 
$
(169
)
                         
Year Ended December 31, 2017
 
 
 
  
 
 
  
 
 
Beginning balance
  $
(24
 )   $
(99
 )   $
(123
 )
Other comprehensive income before reclassifications: gains (losses)
   
6
     
20
     
26
 
Amounts reclassified from AOCI: gains (losses)
(1)
    
(4
 )    
4
     
—
 
                         
Net current period other comprehensive income (loss)
   
2
     
24
     
26
 
                         
Less other comprehensive income (loss) attributable to noncontrolling interest
 
 
1
 
 
 
—
 
 
 
1
 
Ending balance
  $
(23
 )   $
(75
 )   $
(98
 )
                         
 
 
 
 
 
 
 
 
 
 
 
 
(1)
See table below for details about these reclassifications.
 
 
 
 
 
 
 
Reclassification out of Accumulated Other Comprehensive Income
The following table presents Dominion Energy Gas’ reclassifications out of AOCI by component:
Details about AOCI components
 
Amounts
 
 
reclassified from
 
 
AOCI
   
Affected line item in the Consolidated Statements of
Income
(millions)
 
   
Year Ended December 31, 2018
 
 
 
  
Deferred (gains) and losses on derivatives-hedging activities:
   
   
Commodity contracts
 
$
 
8
 
  
Net
i
ncome from discontinued operations
Interest rate contracts
 
 
5
 
  
Interest and related charges
Foreign currency contracts
 
 
13
 
  
Other income
             
Total
 
 
26
 
  
Tax
 
 
(7
)
 
Income tax expense
             
Total, net of tax
 
$
19
 
  
             
Unrecognized pension costs:
 
 
 
  
Actuarial losses
 
$
6
 
  
Other income
             
Total
 
 
6
 
  
Tax
 
 
(2
)
 
Income tax expense
             
Total, net of tax
 
$
4
 
  
             
Year Ended December 31, 2017
 
 
 
  
Deferred (gains) and losses on derivatives-hedging activities:
 
 
 
  
Commodity contracts
  $
8
   
Net
i
ncome from discontinued operations
Interest rate contracts
   
6
   
Interest and related charges
Foreign currency contracts
   
(20
 )  
Other income
             
Total
   
(6
 )  
Tax
   
2
   
Income tax expense
             
Total, net of tax
  $
(4
 )  
             
Unrecognized pension costs:
   
   
Actuarial losses
  $
6
   
Other income
             
Total
   
6
   
Tax
   
(2
 )  
Income tax expense
             
Total, net of tax
  $
4