XML 55 R42.htm IDEA: XBRL DOCUMENT v3.22.2.2
Investments (Tables)
 9 Months Ended
Sep. 30, 2022
Equity and Debt Securities and Cash Equivalents and Cost Method Investments in Decommissioning Trust Funds Dominion Energy’s decommissioning trust funds are summarized below:

 

 

 

Amortized

Cost

 

 

Total

Unrealized

Gains

 

 

Total

Unrealized

Losses

 

 

Allowance for Credit Losses

 

 

Fair

Value

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities:(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

1,375

 

 

$

2,209

 

 

$

(37

)

 

 

 

 

 

$

3,547

 

Fixed income securities:(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt instruments

 

 

649

 

 

 

—

 

 

 

(86

)

 

$

—

 

 

 

563

 

Government securities

 

 

1,291

 

 

 

1

 

 

 

(101

)

 

 

—

 

 

 

1,191

 

Common/collective trust funds

 

 

62

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

62

 

Insurance contracts

 

 

214

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

214

 

Cash equivalents and other(3)

 

 

13

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

13

 

Total

 

$

3,604

 

 

$

2,210

 

 

$

(224

)

(4)

$

—

 

 

$

5,590

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities:(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

1,567

 

 

$

3,734

 

 

$

(13

)

 

 

 

 

 

$

5,288

 

Fixed income securities:(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt instruments

 

 

854

 

 

 

32

 

 

 

(5

)

 

$

—

 

 

 

881

 

Government securities

 

 

1,382

 

 

 

43

 

 

 

(7

)

 

 

—

 

 

 

1,418

 

Common/collective trust funds

 

 

168

 

 

 

4

 

 

 

—

 

 

 

—

 

 

 

172

 

Insurance contracts

 

 

255

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

255

 

Cash equivalents and other(3)

 

 

9

 

 

 

2

 

 

 

(75

)

 

 

—

 

 

 

(64

)

Total

 

$

4,235

 

 

$

3,815

 

 

$

(100

)

(4)

$

—

 

 

$

7,950

 

 

(1)

Unrealized gains and losses on equity securities are included in other income and the nuclear decommissioning trust regulatory liability.

(2)

Unrealized gains and losses on fixed income securities are included in AOCI and the nuclear decommissioning trust regulatory liability. Changes in allowance for credit losses are included in other income.

(3)

Includes pending sales of securities of $13 million at September 30, 2022, and pending purchases of securities of $35 million at December 31, 2021.

(4)

The fair value of securities in an unrealized loss position was $1.9 billion and $883 million at September 30, 2022 and December 31, 2021, respectively.
Unrealized Gain Loss on Equity

The portion of unrealized gains and losses that relates to equity securities held within Dominion Energy’s nuclear decommissioning trusts is summarized below:

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gains (losses) recognized during the period

 

$

(205

)

 

$

(15

)

 

$

(1,123

)

 

$

616

 

Less: Net (gains) losses recognized during the period

   on securities sold during the period

 

 

(2

)

 

 

(11

)

 

 

3

 

 

 

(323

)

Unrealized gains (losses) recognized during the period

   on securities still held at period end(1)

 

$

(207

)

 

$

(26

)

 

$

(1,120

)

 

$

293

 

 

(1)

Included in other income and the nuclear decommissioning trust regulatory liability.

 
Investments Classified by Contractual Maturity Date

The fair value of Dominion Energy’s fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds at September 30, 2022 by contractual maturity is as follows:

 

 

 

Amount

 

(millions)

 

 

 

 

Due in one year or less

 

$

122

 

Due after one year through five years

 

 

512

 

Due after five years through ten years

 

 

453

 

Due after ten years

 

 

729

 

Total

 

$

1,816

 

 
Marketable Securities

Presented below is selected information regarding Dominion Energy’s equity and fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds.

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Proceeds from sales

 

$

605

 

 

$

614

 

 

$

2,686

 

 

$

3,324

 

Realized gains(1)

 

 

17

 

 

 

25

 

 

 

132

 

 

 

405

 

Realized losses(1)

 

 

50

 

 

 

7

 

 

 

247

 

 

 

81

 

 

(1)

Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.
Virginia Electric and Power Company  
Equity and Debt Securities and Cash Equivalents and Cost Method Investments in Decommissioning Trust Funds Virginia Power’s decommissioning trust funds are summarized below:

 

 

 

Amortized

Cost

 

 

Total

Unrealized

Gains

 

 

Total

Unrealized

Losses

 

 

Allowance for Credit Losses

 

 

Fair

Value

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities:(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

856

 

 

$

1,151

 

 

$

(32

)

 

 

 

 

 

$

1,975

 

Fixed income securities:(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt instruments

 

 

434

 

 

 

—

 

 

 

(62

)

 

$

—

 

 

 

372

 

Government securities

 

 

654

 

 

 

—

 

 

 

(48

)

 

 

—

 

 

 

606

 

Common/collective trust funds

 

 

45

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

45

 

Cash equivalents and other(3)

 

 

6

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

6

 

Total

 

$

1,995

 

 

$

1,151

 

 

$

(142

)

(4)

$

—

 

 

$

3,004

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities:(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

841

 

 

$

1,720

 

 

$

(11

)

 

 

 

 

 

$

2,550

 

Fixed income securities:(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt instruments

 

 

517

 

 

 

17

 

 

 

(3

)

 

$

—

 

 

 

531

 

Government securities

 

 

584

 

 

 

16

 

 

 

(2

)

 

 

—

 

 

 

598

 

Common/collective trust funds

 

 

53

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

53

 

Cash equivalents and other(3)

 

 

2

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2

 

Total

 

$

1,997

 

 

$

1,753

 

 

$

(16

)

(4)

$

—

 

 

$

3,734

 

 

(1)

Unrealized gains and losses on equity securities are included in other income and the nuclear decommissioning trust regulatory liability.

(2)

Unrealized gains and losses on fixed income securities are included in AOCI and the nuclear decommissioning trust regulatory liability. Changes in allowance for credit losses are included in other income.

(3)

Includes pending sales of securities of $6 million and $5 million at September 30, 2022 and December 31, 2021, respectively.

(4)

The fair value of securities in an unrealized loss position was $1.1 billion and $425 million at September 30, 2022 and December 31, 2021, respectively.

 

 
Unrealized Gain Loss on Equity

The portion of unrealized gains and losses that relates to equity securities held within Virginia Power’s nuclear decommissioning trusts is summarized below:

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gains (losses) recognized during the period

 

$

(118

)

 

$

6

 

 

$

(581

)

 

$

319

 

Less: Net (gains) losses recognized during the period

    on securities sold during the period

 

 

(4

)

 

 

(9

)

 

 

(8

)

 

 

(182

)

Unrealized gains (losses) recognized during the period

    on securities still held at period end(1)

 

$

(122

)

 

$

(3

)

 

$

(589

)

 

$

137

 

 

(1)

Included in other income and the nuclear decommissioning trust regulatory liability.
Investments Classified by Contractual Maturity Date

The fair value of Virginia Power’s fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds at September 30, 2022 by contractual maturity is as follows:

 

 

 

Amount

 

(millions)

 

 

 

 

Due in one year or less

 

$

64

 

Due after one year through five years

 

 

277

 

Due after five years through ten years

 

 

301

 

Due after ten years

 

 

381

 

Total

 

$

1,023

 

 
Marketable Securities

Presented below is selected information regarding Virginia Power’s equity and fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds.

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Proceeds from sales

 

$

425

 

 

$

216

 

 

$

1,289

 

 

$

1,465

 

Realized gains(1)

 

 

14

 

 

 

17

 

 

 

40

 

 

 

213

 

Realized losses(1)

 

 

33

 

 

 

2

 

 

 

85

 

 

 

28

 

 

(1)

Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.