Property, Plant and Equipment

12 Months Ended

Dec. 31, 2011

PROPERTY, PLANT AND EQUIPMENT

Major classes of property, plant and equipment and their respective balances for the Companies are as follows:



At December 31,	2011		2010
(millions)
Dominion
Utility:
Generation	$	11,793	$	11,381
Transmission	6,604		5,793
Distribution	10,401		9,883
Storage	2,060		1,892
Nuclear fuel	1,193		1,058
Gas gathering and processing	727		535
General and other	778		730
Other-including plant under construction	3,597		3,933
Total utility	37,153		35,205
Nonutility:
Proved E&P properties being amortized	104		103
Merchant generation-nuclear	1,108		1,217
Merchant generation-other⁽¹⁾	2,780		1,451
Nuclear fuel	847		762
Other-including plant under construction	998		1,117
Total nonutility	5,837		4,650
Total property, plant and equipment	$	42,990	$	39,855

Virginia Power
Utility:
Generation	$	11,793	$	11,381
Transmission	3,823		3,080
Distribution	8,231		7,879
Nuclear fuel	1,193		1,058
General and other	631		591
Other-including plant under construction	2,946		3,610
Total utility	28,617		27,599
Nonutility-other	9		8
Total property, plant and equipment	$	28,626	$	27,607


(1)	2011 amount includes $957 million due to consolidation of a VIE.

Jointly-Owned Power Stations

Dominion's and Virginia Power's proportionate share of jointly-owned power stations at December 31, 2011 is as follows:



	Bath County Pumped Storage Station⁽¹⁾			North Anna Units 1 and 2⁽¹⁾			Clover Power Station⁽¹⁾			Millstone Unit 3⁽²⁾
(millions, except percentages)
Ownership interest	60		%	88.4		%	50		%	93.5		%
Plant in service	$	1,023		$	2,332		$	564		$	989
Accumulated depreciation	(497		)	(1,086		)	(185		)	(210		)
Nuclear fuel	—			512			—			401
Accumulated amortization of nuclear fuel	—			(383		)	—			(254		)
Plant under construction	12			447			8			36


(1)	Units jointly owned by Virginia Power.


(2)	Unit jointly owned by Dominion.

The co-owners are obligated to pay their share of all future construction expenditures and operating costs of the jointly-owned facilities in the same proportion as their respective ownership interest. Dominion and Virginia Power report their share of operating costs in the appropriate operating expense (electric fuel and other energy-related purchases, other operations and maintenance, depreciation, depletion and amortization and other taxes, etc.) in the Consolidated Statements of Income.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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