Derivatives and Hedge Accounting Activities

3 Months Ended

Mar. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedge Accounting Activities

Derivatives and Hedge Accounting Activities

The Companies' accounting policies and objectives and strategies for using derivative instruments are discussed in Note 2 to the Consolidated Financial Statements in the Companies' Annual Report on Form 10-K for the year ended December 31, 2014. See Note 8 in this report for further information about fair value measurements and associated valuation methods for derivatives.

Derivative assets and liabilities are presented gross on the Companies' Consolidated Balance Sheets. Dominion's derivative contracts include both over-the-counter transactions and those that are executed on an exchange or other trading platform (exchange contracts) and centrally cleared. Dominion Gas' and Virginia Power's derivative contracts consist of over-the-counter transactions. Over-the-counter contracts are bilateral contracts that are transacted directly with a counterparty. Exchange contracts utilize a financial intermediary, exchange, or clearinghouse to enter, execute, or clear the transactions. Certain over-the-counter and exchange contracts contain contractual rights of setoff through master netting arrangements, derivative clearing agreements, and contract default provisions. In addition, the contracts are subject to conditional rights of setoff through counterparty nonperformance, insolvency, or other conditions.

In general, most over-the-counter transactions and all exchange contracts are subject to collateral requirements. Types of collateral for over-the-counter and exchange contracts include cash, letters of credit, and in some cases other forms of security, none of which are subject to restrictions. Cash collateral is used in the table below to offset derivative assets and liabilities. Certain accounts receivable and accounts payable recognized on the Companies' Consolidated Balance Sheets, as well as letters of credit and other forms of security, all of which are not included in the tables below, are subject to offset under master netting or similar arrangements and would reduce the net exposure.

Dominion

Balance Sheet Presentation

The tables below present Dominion's derivative asset and liability balances by type of financial instrument, before and after the effects of offsetting:

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	18	$	—	$	18	$	24	$	—	$	24
Commodity contracts:
Over-the-counter	323		—		323		382		—		382
Exchange	326		—		326		298		—		298
Total derivatives, subject to a master netting or similar arrangement	667		—		667		704		—		704
Total derivatives, not subject to a master netting or similar arrangement	12		—		12		15		—		15
Total	$	679	$	—	$	679	$	719	$	—	$	719

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	18	$	18	$	—	$	—	$	24	$	16	$	—	$	8
Commodity contracts:
Over-the-counter	323		45		—		278		382		34		34		314
Exchange	326		326		—		—		298		298		—		—
Total	$	667	$	389	$	—	$	278	$	704	$	348	$	34	$	322

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	307	$	—	$	307	$	202	$	—	$	202
Commodity contracts:
Over-the-counter	83		—		83		87		—		87
Exchange	364		—		364		493		—		493
Total derivatives, subject to a master netting or similar arrangement	754		—		754		782		—		782
Total derivatives, not subject to a master netting or similar arrangement	11		—		11		12		—		12
Total	$	765	$	—	$	765	$	794	$	—	$	794

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	307	$	18	$	—	$	289	$	202	$	16	$	—	$	186
Commodity contracts:
Over-the-counter	83		45		—		38		87		34		1		52
Exchange	364		326		38		—		493		298		195		—
Total	$	754	$	389	$	38	$	327	$	782	$	348	$	196	$	238

Volumes

The following table presents the volume of Dominion’s derivative activity as of March 31, 2015. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.

	Current		Noncurrent
Natural Gas (bcf):
Fixed price(1)	55		10
Basis	224		558
Electricity (MWh):
Fixed price	13,610,507		7,505,325
FTRs	14,994,541		—
Capacity (MW)	15,250		3,050
Liquids (Gal)(2)	77,280,000		2,016,000
Interest rate	$	2,550,000,000	$	4,000,000,000

(1) Includes options.

(2) Includes NGLs and oil.

Ineffectiveness and AOCI

For the three months ended March 31, 2015 and 2014, gains or losses on hedging instruments determined to be ineffective and amounts excluded from the assessment of effectiveness were not material. Amounts excluded from the assessment of effectiveness include gains or losses attributable to changes in the time value of options and changes in the differences between spot prices and forward prices.

The following table presents selected information related to gains (losses) on cash flow hedges included in AOCI in Dominion’s Consolidated Balance Sheet at March 31, 2015:

	AOCI After-Tax			Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax			Maximum Term
(millions)
Commodities:
Gas	$	(5	)	$	(5	)	25 months
Electricity	89			32			21 months
Other	—			(1		)	14 months
Interest rate	(261		)	(6		)	393 months
Total	$	(177	)	$	20

The amounts that will be reclassified from AOCI to earnings will generally be offset by the recognition of the hedged transactions (e.g., anticipated sales) in earnings, thereby achieving the realization of prices contemplated by the underlying risk management strategies and will vary from the expected amounts presented above as a result of changes in market prices and interest rates.

Fair Value and Gains and Losses on Derivative Instruments

The following table presents the fair values of Dominion’s derivatives and where they are presented in its Consolidated Balance Sheets:

	Fair Value – Derivatives under Hedge  Accounting		Fair Value – Derivatives not under Hedge  Accounting		Total Fair Value
(millions)
At March 31, 2015
ASSETS
Current Assets
Commodity	$	298	$	109	$	407
Interest rate	13		—		13
Total current derivative assets(1)	311		109		420
Noncurrent Assets
Commodity	140		114		254
Interest rate	5		—		5
Total noncurrent derivative assets(2)	145		114		259
Total derivative assets	$	456	$	223	$	679
LIABILITIES
Current Liabilities
Commodity	$	253	$	118	$	371
Interest rate	229		—		229
Total current derivative liabilities	482		118		600
Noncurrent Liabilities
Commodity	48		39		87
Interest Rate	78		—		78
Total noncurrent derivative liabilities(3)	126		39		165
Total derivative liabilities	$	608	$	157	$	765
At December 31, 2014
ASSETS
Current Assets
Commodity	$	281	$	242	$	523
Interest rate	13		—		13
Total current derivative assets(1)	294		242		536
Noncurrent Assets
Commodity	71		101		172
Interest rate	11		—		11
Total noncurrent derivative assets(2)	82		101		183
Total derivative assets	$	376	$	343	$	719
LIABILITIES
Current Liabilities
Commodity	$	224	$	267	$	491
Interest rate	100		—		100
Total current derivative liabilities	324		267		591
Noncurrent Liabilities
Commodity	55		46		101
Interest rate	102		—		102
Total noncurrent derivative liabilities(3)	157		46		203
Total derivative liabilities	$	481	$	313	$	794

(1) Current derivative assets are presented in other current assets in Dominion's Consolidated Balance Sheets.     

(2) Noncurrent derivative assets are presented in other deferred charges and other assets in Dominion’s Consolidated Balance Sheets.

(3) Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Dominion’s Consolidated Balance Sheets.

The following tables present the gains and losses on Dominion's derivatives, as well as where the associated activity is presented in its Consolidated Balance Sheets and Statements of Income:

Derivatives in cash flow hedging relationships	Amount of Gain (Loss)  Recognized in AOCI  on Derivatives (Effective Portion)(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)
(millions)
Three Months Ended March 31, 2015
Derivative Type and Location of Gains (Losses)
Commodity:
Operating revenue				$	(92	)
Purchased gas				(5		)
Electric fuel and other energy-related purchases				1
Total commodity	$	(41	)	$	(96	)	$	3
Interest rate(3)	(58		)	(2		)	(49		)
Total	$	(99	)	$	(98	)	$	(46	)
Three Months Ended March 31, 2014
Derivative Type and Location of Gains (Losses)
Commodity:
Operating revenue				$	(269	)
Purchased gas				(1		)
Electric fuel and other energy-related purchases				13
Total commodity	$	(183	)	$	(257	)	$	2
Interest rate(3)	(47		)	(3		)	(23		)
Total	$	(230	)	$	(260	)	$	(21	)

(1) Amounts deferred into AOCI have no associated effect in Dominion’s Consolidated Statements of Income.

(2) Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Dominion’s Consolidated Statements of Income.

(3) Amounts recorded in Dominion’s Consolidated Statements of Income are classified in interest and related charges.

	Amount of Gain (Loss) Recognized in Income on Derivatives(1)
	Three Months Ended March 31,
Derivatives not designated as hedging instruments	2015			2014
(millions)
Derivative Type and Location of Gains (Losses)
Commodity
Operating revenue	$	3		$	(361	)
Purchased gas	(2		)	7
Electric fuel and other energy-related purchases	6			133
Total	$	7		$	(221	)

(1) Includes derivative activity amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Dominion’s Consolidated Statements of Income.

Virginia Power

Balance Sheet Presentation

The tables below present Virginia Power's derivative asset and liability balances by type of financial instrument, before and after the effects of offsetting:

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
(millions)
Commodity contracts:
Over-the-counter	$	82	$	—	$	82	$	106	$	—	$	106
Total derivatives, subject to a master netting or similar arrangement	82		—		82		106		—		106
Total derivatives, not subject to a master netting or similar arrangement	24		—		24		7		—		7
Total	$	106	$	—	$	106	$	113	$	—	$	113

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
Commodity contracts:
Over-the-counter	$	82	$	4	$	—	$	78	$	106	$	4	$	—	$	102
Total	$	82	$	4	$	—	$	78	$	106	$	4	$	—	$	102

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	128	$	—	$	128	$	72	$	—	$	72
Commodity contracts:
Over-the-counter	5		—		5		8		—		8
Total derivatives, subject to a master netting or similar arrangement	133		—		133		80		—		80
Total derivatives, not subject to a master netting or similar arrangement	6		—		6		7		—		7
Total	$	139	$	—	$	139	$	87	$	—	$	87

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	128	$	—	$	—	$	128	$	72	$	—	$	—	$	72
Commodity contracts:
Over-the-counter	5		4		—		1		8		4		—		4
Total	$	133	$	4	$	—	$	129	$	80	$	4	$	—	$	76

Volumes

The following table presents the volume of Virginia Power’s derivative activity as of March 31, 2015. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.

	Current		Noncurrent
Natural Gas (bcf):
Fixed price(1)	12		—
Basis	84		493
Electricity (MWh):
FTRs	13,486,569		—
Capacity (MW)	15,250		3,050
Interest rate	$	1,000,000,000	$	750,000,000

(1) Includes options.

Ineffectiveness

For the three months ended March 31, 2015 and 2014, gains or losses on hedging instruments determined to be ineffective were not material.

Fair Value and Gains and Losses on Derivative Instruments

The following table presents the fair values of Virginia Power’s derivatives and where they are presented in its Consolidated

Balance Sheets:

	Fair Value – Derivatives under Hedge  Accounting		Fair Value – Derivatives not under Hedge  Accounting		Total Fair Value
(millions)
At March 31, 2015
ASSETS
Current Assets
Commodity	$	—	$	28	$	28
Total current derivative assets(1)	—		28		28
Noncurrent Assets
Commodity	—		78		78
Total noncurrent derivative assets(2)	—		78		78
Total derivative assets	$	—	$	106	$	106
LIABILITIES
Current Liabilities
Commodity	$	1	$	10	$	11
Interest rate	96		—		96
Total current derivative liabilities(3)	97		10		107
Noncurrent Liabilities
Interest rate	32		—		32
Total noncurrent derivatives liabilities (4)	32		—		32
Total derivative liabilities	$	129	$	10	$	139
December 31, 2014
ASSETS
Current Assets
Commodity	$	—	$	51	$	51
Total current derivative assets(1)	—		51		51
Noncurrent Assets
Commodity	—		62		62
Total noncurrent derivative assets(2)	—		62		62
Total derivative assets	$	—	$	113	$	113
LIABILITIES
Current Liabilities
Commodity	$	3	$	12	$	15
Interest rate	45		—		45
Total current derivative liabilities(3)	48		12		60
Noncurrent Liabilities
Interest rate	27		—		27
Total noncurrent derivative liabilities(4)	27		—		27
Total derivative liabilities	$	75	$	12	$	87

(1) Current derivative assets are presented in other current assets in Virginia Power's Consolidated Balance Sheets.

(2) Noncurrent derivative assets are presented in other deferred charges and other assets in Virginia Power's Consolidated Balance Sheets.

(3) Current derivative liabilities are presented in other current liabilities in Virginia Power's Consolidated Balance Sheets.

(4) Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Virginia Power’s Consolidated Balance Sheets.

The following tables present the gains and losses on Virginia Power's derivatives, as well as where the associated activity is presented in its Consolidated Balance Sheets and Statements of Income:

Derivatives in cash flow hedging relationships	Amount of Gain (Loss)  Recognized in AOCI  on Derivatives (Effective Portion)(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)
(millions)
Three Months Ended March 31, 2015
Derivative Type and Location of Gains (Losses)
Commodity:
Electric fuel and other energy-related purchases				$	(1	)
Total commodity	$	—		$	(1	)	$	3
Interest rate(3)	(6		)	—			(49		)
Total	$	(6	)	$	(1	)	$	(46	)
Three Months Ended March 31, 2014
Derivative Type and Location of Gains (Losses)
Commodity:
Electric fuel and other energy-related purchases				$	5
Total commodity	$	6		$	5		$	2
Interest rate(3)	(3		)	—			(23		)
Total	$	3		$	5		$	(21	)

(1) Amounts deferred into AOCI have no associated effect in Virginia Power’s Consolidated Statements of Income.

(2) Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Virginia Power’s Consolidated Statements of Income.

(3) Amounts recorded in Virginia Power’s Consolidated Statements of Income are classified in interest and related charges.

	Amount of Gain (Loss) Recognized in Income on Derivatives(1)
	Three Months Ended March 31,
Derivatives not designated as hedging instruments	2015		2014
(millions)
Derivative Type and Location of Gains (Losses)
Commodity(2)	$	7	$	119
Total	$	7	$	119

(1) Includes derivative activity amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Virginia Power’s Consolidated Statements of Income.

(2) Amounts recorded in Virginia Power's Consolidated Statements of Income are classified in electric fuel and other energy-related purchases.

Dominion Gas

Balance Sheet Presentation

The tables below present Dominion Gas' derivative asset and liability balances by type of financial instrument, before and after the effects of offsetting.

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
(millions)
Commodity contracts:
Over-the-counter	$	3	$	—	$	3	$	2	$	—	$	2
Total derivatives, subject to a master netting or similar arrangement	$	3	$	—	$	3	$	2	$	—	$	2

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
Commodity contracts:
Over-the-counter	$	3	$	3	$	—	$	—	$	2	$	—	$	—	$	2
Total	$	3	$	3	$	—	$	—	$	2	$	—	$	—	$	2

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	13	$	—	$	13	$	9	$	—	$	9
Commodity contracts:
Over-the-counter	3		—		3		—		—		—
Total derivatives, subject to a master netting or similar arrangement	$	16	$	—	$	16	$	9	$	—	$	9

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	13	$	—	$	—	$	13	$	9	$	—	$	—	$	9
Commodity contracts:
Over-the-counter	3		3		—		—		—		—		—		—
Total	$	16	$	3	$	—	$	13	$	9	$	—	$	—	$	9

Volumes

The following table presents the volume of Dominion Gas' derivative activity as of March 31, 2015. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.

	Current		Noncurrent
Natural Gas (bcf):
Fixed price	7		—
Basis	8		—
NGLs (Gal)	72,912,000		—
Interest rate	$	—	$	250,000,000

Ineffectiveness and AOCI

For the three months ended March 31, 2015 and 2014, gains or losses on hedging instruments determined to be ineffective were not material.

The following table presents selected information related to losses on cash flow hedges included in AOCI in Dominion Gas' Consolidated Balance Sheet at March 31, 2015:

	AOCI After-Tax			Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax		Maximum Term
(millions)
Commodities:
NGLs	$	(1	)	$	—	12 months
Interest rate	(23		)	—		357 months
Total	$	(24	)	$	—

The amounts that will be reclassified from AOCI to earnings will generally be offset by the recognition of the hedged transactions (e.g., anticipated sales) in earnings, thereby achieving the realization of prices contemplated by the underlying risk management strategies and will vary from the expected amounts presented above as a result of changes in market prices and interest rates.

Fair Value and Gains and Losses on Derivative Instruments

The following tables present the fair values of Dominion Gas' commodity and interest rate derivatives and where they are presented in its Consolidated Balance Sheets:

	Fair Value  - Derivatives under Hedge Accounting		Fair Value - Derivatives not under Hedge Accounting		Total Fair Value
(millions)
At March 31, 2015
ASSETS
Current Assets
Commodity	$	2	$	1	$	3
Total current derivative assets(1)	2		1		3
Total derivative assets	$	2	$	1	$	3
LIABILITIES
Current Liabilities
Commodity	$	3	$	—	$	3
Total current derivative liabilities(2)	3		—		3
Noncurrent Liabilities
Interest rate	13		—		13
Total noncurrent derivative liabilities(3)	13		—		13
Total derivative liabilities	$	16	$	—	$	16
At December 31, 2014
ASSETS
Current Assets
Commodity	$	2	$	—	$	2
Total current derivative assets(1)	2		—		2
Total derivative assets	$	2	$	—	$	2
LIABILITIES
Noncurrent Liabilities
Interest rate	$	9	$	—	$	9
Total noncurrent derivative liabilities(3)	9		—		9
Total derivative liabilities	$	9	$	—	$	9

(1) Current derivative assets are presented in other current assets in Dominion Gas' Consolidated Balance Sheets.

(2) Current derivative liabilities are presented in other current liabilities in Dominion Gas' Consolidated Balance Sheets.

(3) Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Dominion Gas’ Consolidated Balance Sheets.

The following table presents the gains and losses on Dominion Gas' derivatives, as well as where the associated activity is presented in its Consolidated Balance Sheets and Statements of Income:

Derivatives in cash flow hedging relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)(1)			Amount of Gain (Loss) Reclassified from AOCI to Income
(millions)
Three Months Ended March 31, 2015
Derivative Type and Location of Gains (Losses)
Commodity
Operating revenue				$	—
Total commodity	$	(2	)	$	—
Interest rate(2)	(4		)	—
Total	$	(6	)	$	—
Three Months Ended March 31, 2014
Derivative Type and Location of Gains (Losses)
Commodity
Operating revenue				$	(6	)
Purchased gas				(2		)
Total commodity	$	1		$	(8	)
Interest rate(2)	(14		)	—
Total	$	(13	)	$	(8	)

(1) Amounts deferred into AOCI have no associated effect in Dominion Gas' Consolidated Statements of Income.

(2) Amounts recorded in Dominion Gas' Consolidated Statements of Income are classified in interest and related charges.