Investments (Tables)

12 Months Ended

Dec. 31, 2011

Investments, Debt and Equity Securities [Abstract]



	Amortized Cost		Total Unrealized Gains ⁽¹⁾		Total Unrealized Losses ⁽¹⁾				Fair Value
(millions)
2011
Marketable equity securities:
U.S.:
Large Cap	$	1,152	$	537	$	—			$	1,689
Other	36		10		—				46
Marketable debt securities:
Corporate debt instruments	314		19		(1		)		332
U.S. Treasury securities and agency debentures	437		20		(1		)		456
State and municipal	264		24		—				288
Other	23		1		—				24
Cost method investments	118		—		—				118
Cash equivalents and other⁽²⁾	46		—		—				46
Total	$	2,390	$	611	$	(2	)	⁽³⁾	$	2,999
2010
Marketable equity securities:
U.S.:
Large Cap	$	1,161	$	515	$	—			$	1,676
Other	39		11		—				50
Marketable debt securities:
Corporate debt instruments	310		18		(1		)		327
U.S. Treasury securities and agency debentures	380		12		(1		)		391
State and municipal	244		7		(4		)		247
Other	19		—		—				19
Cost method investments	108		—		—				108
Cash equivalents and other⁽²⁾	79		—		—				79
Total	$	2,340	$	563	$	(6	)	⁽³⁾	$	2,897


(1)	Included in AOCI and the decommissioning trust regulatory liability as discussed in Note 2.


(2)	Includes pending purchases of securities of $11 million and $43 million at December 31, 2011 and 2010, respectively.


(3)	The fair value of securities in an unrealized loss position was $164 million and $252 million at December 31, 2011 and 2010, respectively.

Investments Classified by Contractual Maturity Date



	Amount
(millions)
Due in one year or less	$	99
Due after one year through five years	292
Due after five years through ten years	332
Due after ten years	377
Total	$	1,100

Marketable Securities



Year Ended December 31,	2011		2010			2009
(millions)
Proceeds from sales	$	1,757	$	1,814	⁽¹⁾	$	1,478
Realized gains⁽²⁾	79		111			215
Realized losses⁽²⁾	92		63			211


(1)	The increase in proceeds primarily reflects the replacement of commingled funds with actively managed portfolios. Does not include $1 billion of proceeds reflected in Dominion's Consolidated Statement of Cash Flows from the sale of temporary investments consisting of time deposits and Treasury Bills, purchased following the sale of substantially all of Dominion's Appalachian E&P operations.


(2)	Includes realized gains and losses recorded to the decommissioning trust regulatory liability as discussed in Note 2.

Other Than Temporary Impairment Losses on Investment Securities



Year Ended December 31,	2011			2010			2009
(millions)
Total other-than-temporary impairment losses⁽¹⁾	$	75		$	59		$	175
Losses recorded to decommissioning trust regulatory liability	(24		)	(21		)	(80		)
Losses recognized in other comprehensive income (before taxes)	(3		)	(3		)	(3		)
Net impairment losses recognized in earnings	$	48		$	35		$	92


(1)	Amounts include other-than-temporary impairment losses for debt securities of $6 million, $10 million and $13 million at December 31, 2011, 2010 and 2009, respectively.

Investments Accounts Under Equity Method of Accounting



Company	Ownership%		Investment Balance				Description
As of December 31,			2011		2010
(millions)
Fowler I Holdings LLC	50	%	$	166	$	180	Wind-powered merchant generation facility
NedPower Mount Storm LLC	50	%	146		149		Wind-powered merchant generation facility
Elwood Energy LLC	50	%	108		98		Natural gas-fired merchant generation peaking facility
Iroquois Gas Transmission System, LP	24.72	%	104		106		Gas transmission system
Other	various		29		38
Total			$	553	$	571

- Definition

Tabular disclosure of available-for-sale securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt.

+ References

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+ Details

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

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- Definition

Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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