Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 7. Accumulated Other Comprehensive Income (Loss)

Dominion Energy

The following table presents Dominion Energy’s changes in AOCI (net of tax) and reclassifications out of AOCI by component:

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Pension and other postretirement benefit costs(4)			Equity Method Investees(5)			Total
(millions)
Three Months Ended September 30, 2023
Beginning balance	$	(236	)	$	(29	)	$	(1,299	)	$	(2	)	$	(1,566	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		19			(22	)		—			(1	)		(4	)
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		11			—			—			—			11
Discontinued operations		—			—			—			4			4
Other income (expense)		—			2			(15	)		—			(13	)
Total		11			2			(15	)		4			2
Income tax expense (benefit)		(3	)		—			7			(1	)		3
Total, net of tax		8			2			(8	)		3			5
Net current period other comprehensive     income (loss)		27			(20	)		(8	)		2			1
Ending balance	$	(209	)	$	(49	)	$	(1,307	)	$	—		$	(1,565	)
Three Months Ended September 30, 2022
Beginning balance	$	(283	)	$	(40	)	$	(1,070	)	$	(3	)	$	(1,396	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		10			(27	)		—			—			(17	)
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		16			—			—			—			16
Other income (expense)		—			2			35			—			37
Total		16			2			35			—			53
Income tax expense (benefit)		(4	)		(1	)		(9	)		—			(14	)
Total, net of tax		12			1			26			—			39
Net current period other comprehensive     income (loss)		22			(26	)		26			—			22
Ending balance	$	(261	)	$	(66	)	$	(1,044	)	$	(3	)	$	(1,374	)

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $70 million, $79 million, $87 million and $94 million tax at September 30, 2023, June 30, 2023, September 30, 2022 and June 30, 2022, respectively.

(3)Net of $16 million, $9 million, $23 million and $14 million tax at September 30, 2023, June 30, 2023, September 30, 2022 and June 30, 2022, respectively.

(4)Net of $461 million, $453 million, $367 million and $376 million tax at September 30, 2023, June 30, 2023, September 30, 2022 and June 30, 2022, respectively.

(5)Net of $— million, $— million, $1 million and $1 million tax at September 30, 2023, June 30, 2023, September 30, 2022 and June 30, 2022, respectively.

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Pension and other postretirement benefit costs(4)			Equity Method Investees(5)			Total
(millions)
Nine Months Ended September 30, 2023
Beginning balance	$	(249	)	$	(44	)	$	(1,276	)	$	(3	)	$	(1,572	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		16			(6	)		—			—			10
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		32			—			—			—			32
Discontinued operations		—			—			—			4			4
Other income (expense)		—			1			(46	)		—			(45	)
Total		32			1			(46	)		4			(9	)
Income tax expense (benefit)		(8	)		—			15			(1	)		6
Total, net of tax		24			1			(31	)		3			(3	)
Net current period other comprehensive     income (loss)		40			(5	)		(31	)		3			7
Ending balance	$	(209	)	$	(49	)	$	(1,307	)	$	—		$	(1,565	)
Nine Months Ended September 30, 2022
Beginning balance	$	(358	)	$	37		$	(1,133	)	$	(4	)	$	(1,458	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		64			(116	)		30			1			(21	)
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		44			—			—			—			44
Other income (expense)		—			18			80			—			98
Total		44			18			80			—			142
Income tax expense (benefit)		(11	)		(5	)		(21	)		—			(37	)
Total, net of tax		33			13			59			—			105
Net current period other comprehensive     income (loss)		97			(103	)		89			1			84
Ending balance	$	(261	)	$	(66	)	$	(1,044	)	$	(3	)	$	(1,374	)

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $70 million, $83 million, $87 million and $119 million tax at September 30, 2023, December 31, 2022, September 30, 2022 and December 31, 2021, respectively.

(3)Net of $16 million, $13 million, $23 million and $(10) million tax at September 30, 2023, December 31, 2022, September 30, 2022 and December 31, 2021, respectively.

(4)Net of $461 million, $445 million, $367 million and $396 million tax at September 30, 2023, December 31, 2022, September 30, 2022 and December 31, 2021, respectively.

(5)Net of $— million, $1 million, $1 million and $1 million tax at September 30, 2023, December 31, 2022, September 30, 2022 and December 31, 2021, respectively.

Virginia Power

The following table presents Virginia Power’s changes in AOCI (net of tax) and reclassifications out of AOCI by component:

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Total
(millions)
Three Months Ended September 30, 2023
Beginning balance	$	13		$	(4	)	$	9
Other comprehensive income (loss) before     reclassifications: gains (losses)		18			(3	)		15
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		1			—			1
Other income (expense)		—			—			—
Total		1			—			1
Income tax expense (benefit)		(1	)		—			(1	)
Total, net of tax		—			—			—
Net current period other comprehensive income (loss)		18			(3	)		15
Ending balance	$	31		$	(7	)	$	24
Three Months Ended September 30, 2022
Beginning balance	$	—		$	(7	)	$	(7	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		13			(4	)		9
Amounts reclassified from AOCI: (gains) losses
Interest and related charges (benefit)		1			—			1
Other income (expense)		—			—			—
Total		1			—			1
Income tax expense (benefit)		(1	)		—			(1	)
Total, net of tax		—			—			—
Net current period other comprehensive income (loss)		13			(4	)		9
Ending balance	$	13		$	(11	)	$	2

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $(11) million, $(4) million, $(4) million and $— million tax at September 30, 2023, June 30, 2023, September 30, 2022 and June 30, 2022, respectively.

(3)Net of $3 million, $1 million, $4 million and $3 million tax at September 30, 2023, June 30, 2023, September 30, 2022 and June 30, 2022, respectively.

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Total
(millions)
Nine Months Ended September 30, 2023
Beginning balance	$	16		$	(7	)	$	9
Other comprehensive income (loss) before     reclassifications: gains (losses)		15			—			15
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		1			—			1
Other income (expense)		—			—			—
Total		1			—			1
Income tax expense (benefit)		(1	)		—			(1	)
Total, net of tax		—			—			—
Net current period other comprehensive income (loss)		15			—			15
Ending balance	$	31		$	(7	)	$	24
Nine Months Ended September 30, 2022
Beginning balance	$	(45	)	$	4		$	(41	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		57			(14	)		43
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		2			—			2
Other income (expense)		—			(1	)		(1	)
Total		2			(1	)		1
Income tax expense (benefit)		(1	)		—			(1	)
Total, net of tax		1			(1	)		—
Net current period other comprehensive income (loss)		58			(15	)		43
Ending balance	$	13		$	(11	)	$	2

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $(11) million, $(5) million, $(4) million and $16 million tax at September 30, 2023, December 31, 2022, September 30, 2022 and December 31, 2021, respectively.

(3)Net of $3 million, $2 million, $4 million and $(2) million tax at September 30, 2023, December 31, 2022, September 30, 2022 and December 31, 2021, respectively.