Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2020

Dominion Energy Gas Holdings, LLC | Gas, Transmission & Storage

Schedule of Operations, Assets and Liabilities, Capital Expenditures and Significant Noncash Items Reported as Discontinued Operations

The following table represents selected information regarding the results of operations of reported within discontinued operations in Dominion Energy’s Consolidated Statements of Income:

	Three Months Ended September 30, 2020					Three Months Ended September 30, 2019				Nine Months Ended September 30, 2020					Nine Months Ended September 30, 2019
	GT&S Transaction			Q-Pipe Transaction		GT&S Transaction		Q-Pipe Transaction		GT&S Transaction			Q-Pipe Transaction		GT&S Transaction		Q-Pipe Transaction
(millions)
Operating revenue	$	511		$	59	$	497	$	60	$	1,554		$	182	$	1,627	$	185
Operating Expense(1)		208			16		317		31		1,311			78		1,029		100
Other income (loss)		(5	)		1		13		1		27			3		42		3
Interest and related charges(2)		267			5		76		5		366			15		224		15
Income (loss) before income taxes		31			39		117		25		(96	)		92		416		73
Income tax expense (benefit)		(14	)		5		117		19		(65	)		19		42		6
Net income (loss) including noncontrolling    interests		45			34		—		6		(31	)		73		374		67
Noncontrolling interests		32			—		—		—		97			—		6		—
Net income (loss) attributable to Dominion    Energy	$	13		$	34	$	—	$	6	$	(128	)	$	73	$	368	$	67

(1) GT&S Transaction includes a charge of $482 million ($359 million after-tax) recorded in the second quarter of 2020 associated with the probable abandonment of a significant portion of the Supply Header Project as well as the establishment of a $75 million ARO as a result of the cancellation of the Atlantic Coast Pipeline Project.

(2) GT&S Transaction includes a loss of $237 million recorded in the third quarter of 2020 associated with cash flow hedges of debt-related items that were determined to be probable of not occurring.

Capital expenditures and significant noncash items relating to the disposal groups included the following:

	Nine Months Ended September 30, 2020				Nine Months Ended September 30, 2019
	GT&S Transaction		Q-Pipe Transaction		GT&S Transaction		Q-Pipe Transaction
(millions)
Capital expenditures	$	240	$	27	$	265	$	32
Significant noncash items
Impairment of assets and other charges		463		—		13		—
Charge related to a voluntary retirement program		—		—		22		4
Depreciation, depletion and amortization		173		25		240		38
Accrued capital expenditures		43		2		42		3

Schedule of Major Classes of Assets and Liabilities Reported As Held for Sale in Discontinued Operations

The carrying amounts of major classes of assets and liabilities relating to the disposal groups, which are reported as held for sale in Dominion Energy’s Consolidated Balance Sheets were as follows:

	At September 30, 2020(1)				At December 31, 2019
	GT&S Transaction		Q-Pipe Transaction		GT&S Transaction		Q-Pipe Transaction
(millions)
Current assets(2)	$	398	$	57	$	445	$	49
Equity method investments(3)		316		35		276		36
Property, plant and equipment, net(4)		10,449		1,109		10,764		1,103
Other deferred charges and other assets, including goodwill(5)    and intangible assets		1,544		224		1,553		225
Current liabilities(6)		1,536		38		1,002		37
Long-term debt		3,916		425		4,401		425
Other deferred credits and liabilities		810		155		773		155

(1) All amounts at September 30, 2020 are classified as current in Dominion Energy’s Consolidated Balance Sheet.

(2) Includes cash and cash equivalents of $24 million and $20 million as of September 30, 2020 and December 31, 2019, respectively, within the GT&S Transaction and $25 million and $11 million as of September 30, 2020 and December 31, 2019, respectively within the Q-Pipe Transaction.

(3) Comprised of equity method investments in Iroquois and JAX LNG within the GT&S Transaction and White River Hub within the Q-Pipe Transaction.

(4) GT&S Transaction includes $40 million recorded at September 30, 2020 for a potential modified Supply Header Project.

(5) Includes goodwill of $1.4 billion and $191 million at both September 30, 2020 and December 31, 2019 within the GT&S Transaction and the Q-Pipe Transaction, respectively.

(6) Includes $47 million ARO recorded at September 30, 2020 related to the Supply Header Project and current portions of long-term debt of $1.2 billion and $699 million as of September 30, 2020 and December 31, 2020, respectively, within the GT&S Transaction.

SCANA

Business Acquisition, Pro Forma Information

The following unaudited pro forma financial information reflects the consolidated results of operations of Dominion Energy assuming the SCANA Combination had taken place on January 1, 2018. The unaudited pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the consolidated results of operations that would have been achieved or the future consolidated results of operations of the combined company.

	Three Months Ended September 30, 2019(1)		Nine Months Ended September 30, 2019(1)
(millions, except EPS)
Operating Revenue	$	3,782	$	11,513
Net income attributable to Dominion Energy		1,029		1,991
Earnings Per Common Share – Basic	$	1.28	$	2.47
Earnings Per Common Share – Diluted	$	1.26	$	2.44

(1) Amounts include adjustments for non-recurring costs directly related to the SCANA Combination.