Investments (Tables)

9 Months Ended

Sep. 30, 2012

Available-For-Sale Securities

Dominion’s decommissioning trust funds are summarized below.

	Amortized Cost		Total  Unrealized Gains(1)		Total  Unrealized Losses (1)				Fair Value
(millions)
September 30, 2012
Marketable equity securities:
U.S.:
Large Cap	$	1,182	$	755	$	—			$	1,937
Other	40		12		—				52
Marketable debt securities:
Corporate bonds	289		29		—				318
U.S. Treasury securities and agency debentures	463		22		(1		)		484
State and municipal	287		30		—				317
Other	10		1		—				11
Cost method investments	123		—		—				123
Cash equivalents and other(2)	80		—		—				80
Total	$	2,474	$	849	$	(1	)	(3)	$	3,322
December 31, 2011
Marketable equity securities:
U.S.:
Large Cap	$	1,152	$	537	$	—			$	1,689
Other	36		10		—				46
Marketable debt securities:
Corporate bonds	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

(1) Included in AOCI and the decommissioning trust regulatory liability.

(2) Includes pending sales of securities of $6 million and pending purchases of securities of $11 million at September 30, 2012 and December 31, 2011, respectively.

(3) The fair value of securities in an unrealized loss position was $100 million and $164 million at September 30, 2012 and December 31, 2011, respectively.

Investments Classified by Contractual Maturity Date

The fair value of Dominion’s marketable debt securities held in nuclear decommissioning trust funds at September 30, 2012 by contractual maturity is as follows:

	Amount
(millions)
Due in one year or less	$	108
Due after one year through five years	281
Due after five years through ten years	359
Due after ten years	382
Total	$	1,130

Marketable Securities

Presented below is selected information regarding Dominion’s marketable equity and debt securities held in nuclear decommissioning trust funds.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
(millions)
Proceeds from sales	$	276	$	465	$	1,040	$	1,404
Realized gains(1)	15		23		71		55
Realized losses(1)	6		62		25		82

(1) Includes realized gains or losses recorded to the decommissioning trust regulatory liability.

Other Than Temporary Impairment Losses On Investment Securities

Dominion recorded other-than-temporary impairment losses on investments held in nuclear decommissioning trust funds as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
(millions)
Total other-than-temporary impairment losses(1)	$	6		$	54		$	20		$	69
Losses recorded to decommissioning trust regulatory liability	(3		)	(16		)	(8		)	(22		)
Losses recognized in other comprehensive income (before taxes)	—			(2		)	(1		)	(3		)
Net impairment losses recognized in earnings	$	3		$	36		$	11		$	44

(1) Amount includes other-than-temporary impairment losses for debt securities of $1 million and $3 million for the three months ended September 30, 2012 and 2011, respectively, and $3 million and $5 million for the nine months ended September 30, 2012 and 2011, respectively.

Virginia Electric and Power Company

Available-For-Sale Securities

Virginia Power’s decommissioning trust funds are summarized below.

	Amortized Cost		Total  Unrealized Gains(1)		Total  Unrealized Losses(1)				Fair Value
(millions)
September 30, 2012
Marketable equity securities:
U.S.:
Large Cap	$	467	$	307	$	—			$	774
Other	20		6		—				26
Marketable debt securities:
Corporate bonds	177		17		—				194
U.S. Treasury securities and agency debentures	197		6		(1		)		202
State and municipal	131		13		—				144
Other	7		—		—				7
Cost method investments	123		—		—				123
Cash equivalents and other(2)	36		—		—				36
Total	$	1,158	$	349	$	(1	)	(3)	$	1,506
December 31, 2011
Marketable equity securities:
U.S.:
Large Cap	$	460	$	218	$	—			$	678
Other	18		5		—				23
Marketable debt securities:
Corporate bonds	204		11		(1		)		214
U.S. Treasury securities and agency debentures	166		4		—				170
State and municipal	114		10		—				124
Other	16		1		(1		)		16
Cost method investments	118		—		—				118
Cash equivalents and other(2)	27		—		—				27
Total	$	1,123	$	249	$	(2	)	(3)	$	1,370

(1) Included in AOCI and the decommissioning trust regulatory liability.

(2) Includes pending sales of securities of $6 million and pending purchases of securities of $13 million at September 30, 2012 and December 31, 2011, respectively.

(3) The fair value of securities in an unrealized loss position was $53 million and $99 million at September 30, 2012 and December 31, 2011, respectively.

Investments Classified by Contractual Maturity Date

The fair value of Virginia Power’s debt securities at September 30, 2012 by contractual maturity is as follows:

	Amount
(millions)
Due in one year or less	$	19
Due after one year through five years	145
Due after five years through ten years	213
Due after ten years	170
Total	$	547

Marketable Securities

Presented below is selected information regarding Virginia Power’s marketable equity and debt securities.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
(millions)
Proceeds from sales	$	128	$	242	$	481	$	838
Realized gains(1)	6		10		27		21
Realized losses(1)	2		22		9		30

(1) Includes realized gains or losses recorded to the decommissioning trust regulatory liability.

Other Than Temporary Impairment Losses On Investment Securities

Virginia Power recorded other-than-temporary impairment losses on investments as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
(millions)
Total other-than-temporary impairment losses(1)	$	4		$	19		$	9		$	26
Losses recorded to decommissioning trust regulatory liability	(3		)	(16		)	(8		)	(22		)
Net impairment losses recognized in earnings	$	1		$	3		$	1		$	4

(1) Amount includes other-than-temporary impairment losses for debt securities of $2 million for the three months ended September 30, 2011, and $2 million and $4 million for the nine months ended September 30, 2012 and 2011, respectively.