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Investments (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Available-for-sale Securities [Line Items]

Dominion's decommissioning trust funds are summarized below:



	Amortized Cost		Total Unrealized Gains ⁽¹⁾		Total Unrealized Losses ⁽¹⁾				Fair Value
(millions)
2012
Marketable equity securities:
U.S.:
Large Cap	$	1,210	$	732	$	—			$	1,942
Other	40		13		—				53
Marketable debt securities:
Corporate debt instruments	295		30		—				325
U.S. Treasury securities and agency debentures	523		19		(2		)		540
State and municipal	248		26		—				274
Other	6		1		—				7
Cost method investments	117		—		—				117
Cash equivalents and other⁽²⁾	72		—		—				72
Total	$	2,511	$	821	$	(2	)	⁽³⁾	$	3,330
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


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


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


(3)	The fair value of securities in an unrealized loss position was $195 million and $164 million at December 31, 2012 and 2011, respectively.

Investments Classified by Contractual Maturity Date

The fair value of Dominion's marketable debt securities held in nuclear decommissioning trust funds at December 31, 2012 by contractual maturity is as follows:



	Amount
(millions)
Due in one year or less	$	116
Due after one year through five years	304
Due after five years through ten years	357
Due after ten years	369
Total	$	1,146

Marketable Securities

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



Year Ended December 31,	2012		2011		2010
(millions)
Proceeds from sales	$	1,356	$	1,757	$	1,814	⁽¹⁾
Realized gains⁽²⁾	98		79		111
Realized losses⁽²⁾	33		92		63


(1)	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

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



Year Ended December 31,	2012			2011			2010
(millions)
Total other-than-temporary impairment losses⁽¹⁾	$	26		$	75		$	59
Losses recorded to decommissioning trust regulatory liability	(10		)	(24		)	(21		)
Losses recognized in other comprehensive income (before taxes)	(2		)	(3		)	(3		)
Net impairment losses recognized in earnings	$	14		$	48		$	35


(1)	Amounts include other-than-temporary impairment losses for debt securities of $4 million, $6 million and $10 million at December 31, 2012, 2011 and 2010, respectively.

Investments Accounts Under Equity Method of Accounting

Investments that Dominion accounts for under the equity method of accounting are as follows:



Company	Ownership%		Investment Balance				Description
As of December 31,			2012		2011
(millions)
Fowler I Holdings LLC	50	%	$	158	$	166	Wind-powered merchant generation facility
NedPower Mount Storm LLC	50	%	137		146		Wind-powered merchant generation facility
Elwood Energy LLC	50	%	117		108		Natural gas-fired merchant generation peaking facility
Iroquois Gas Transmission System, LP	24.72	%	102		104		Gas transmission system
Blue Racer Midstream LLC	50	%	39		—		Midstream gas and related services
Other⁽¹⁾	various		5		29
Total			$	558	$	553

Virginia Electric and Power Company

Schedule of Available-for-sale Securities [Line Items]

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)
2012
Marketable equity securities:
U.S.:
Large Cap	$	481	$	298	$	—			$	779
Other	20		7		—				27
Marketable debt securities:
Corporate debt instruments	179		17		—				196
U.S. Treasury securities and agency debentures	231		4		(1		)		234
State and municipal	106		11		—				117
Other	1		—		—				1
Cost method investments	117		—		—				117
Cash equivalents and other⁽²⁾	44		—		—				44
Total	$	1,179	$	337	$	(1	)	⁽³⁾	$	1,515
2011
Marketable equity securities:
U.S.:
Large Cap	$	460	$	218	$	—			$	678
Other	18		5		—				23
Marketable debt securities:
Corporate debt instruments	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 as discussed in Note 2.


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


(3)	The fair value of securities in an unrealized loss position was $104 million and $99 million at December 31, 2012 and 2011, respectively

Investments Classified by Contractual Maturity Date

The fair value of Virginia Power's debt securities at December 31, 2012, by contractual maturity is as follows:



	Amount
(millions)
Due in one year or less	$	18
Due after one year through five years	156
Due after five years through ten years	217
Due after ten years	157
Total	$	548

Marketable Securities

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



Year Ended December 31,	2012		2011		2010
(millions)
Proceeds from sales	$	626	$	1,030	$	1,192
Realized gains⁽¹⁾	42		34		52
Realized losses⁽¹⁾	11		34		23


(1)	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

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



Year Ended December 31,	2012			2011			2010
(millions)
Total other-than-temporary impairment losses⁽¹⁾	$	11		$	29		$	25
Losses recorded to decommissioning trust regulatory liability	(10		)	(24		)	(21		)
Losses recorded in other comprehensive income (before taxes)	—			(1		)	(1		)
Net impairment losses recognized in earnings	$	1		$	4		$	3


(1)	Amounts include other-than-temporary impairment losses for debt securities of $2 million, $4 million and $6 million at December 31, 2012, 2011 and 2010, respectively

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

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+ Details

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References+ Details

- 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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