Investments (Tables)

12 Months Ended

Dec. 31, 2015

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)
At December 31, 2015
Marketable equity securities:
U.S. large cap	$	1,295	$	1,213	$	—			$	2,508
REIT	59		4		—				63
Marketable debt securities:
Corporate debt instruments	433		11		(7		)		437
U.S. Treasury securities and agency debentures	654		8		(4		)		658
State and municipal	312		22		—				334
Other	99		—		—				99
Cost method investments	70		—		—				70
Cash equivalents and other⁽²⁾	14		—		—				14
Total	$	2,936	$	1,258	$	(11	)	⁽³⁾	$	4,183
At December 31, 2014
Marketable equity securities:
U.S. large cap	$	1,273	$	1,353	$	—			$	2,626
Marketable debt securities:
Corporate debt instruments	424		19		(2		)		441
U.S. Treasury securities and agency debentures	597		13		(4		)		606
State and municipal	332		23		—				355
Other	66		—		—				66
Cost method investments	86		—		—				86
Cash equivalents and other⁽²⁾	16		—		—				16
Total	$	2,794	$	1,408	$	(6	)	⁽³⁾	$	4,196


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


(2)	Includes pending sales of securities of $12 million and $3 million at December 31, 2015 and 2014, respectively.


(3)	The fair value of securities in an unrealized loss position was $592 million and $379 million at December 31, 2015 and 2014, 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, 2015

by contractual maturity is as follows:



	Amount
(millions)
Due in one year or less	$	208
Due after one year through five years	396
Due after five years through ten years	412
Due after ten years	512
Total	$	1,528

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,	2015		2014		2013
(millions)
Proceeds from sales	$	1,340	$	1,235	$	1,476
Realized gains⁽¹⁾	219		171		157
Realized losses⁽¹⁾	84		30		33


(1)	Includes realized gains and losses recorded to the nuclear 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,	2015			2014			2013
(millions)
Total other-than-temporary impairment losses⁽¹⁾	$	66		$	21		$	31
Losses recorded to nuclear decommissioning trust regulatory liability	(26		)	(5		)	(13		)
Losses recognized in other comprehensive income (before taxes)	(9		)	(3		)	(10		)
Net impairment losses recognized in earnings	$	31		$	13		$	8


(1)	Amounts include other-than-temporary impairment losses for debt securities of $9 million, $3 million and $18 million at December 31, 2015, 2014 and 2013, respectively.

Investments Accounts Under Equity Method of Accounting

Investments that Dominion and Dominion Gas account for under the equity method of accounting are as follows:



Company	Ownership%			Investment Balance				Description
As of December 31,				2015		2014
(millions)
Dominion
Blue Racer	50	%		$	661	$	671	Midstream gas and related services
Iroquois	50.65	%	⁽¹⁾	324		107		Gas transmission system
Fowler Ridge	50	%		125		134		Wind-powered merchant generation facility
NedPower	50	%		119		128		Wind-powered merchant generation facility
Atlantic Coast Pipeline	45	%		59		19		Gas transmission system
Other⁽²⁾	various			32		22
Total				$	1,320	$	1,081
Dominion Gas
Iroquois	24.72	%		$	102	$	107	Gas transmission system
Total				$	102	$	107


(1)	Comprised of Dominion Midstream's interest of 25.93% and Dominion Gas' interest of 24.72%. See Note 15 for more information.


(2)	Dominion has a $50 million commitment to invest in clean power and technology businesses through 2018.

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)
At December 31, 2015
Marketable equity securities:
U.S. large cap	$	574	$	525	$	—			$	1,099
REIT	59		4		—				63
Marketable debt securities:
Corporate debt instruments	237		5		(4		)		238
U.S. Treasury securities and agency debentures	260		1		(2		)		259
State and municipal	162		13		(1		)		174
Other	34		—		—				34
Cost method investments	70		—		—				70
Cash equivalents and other⁽²⁾	8		—		—				8
Total	$	1,404	$	548	$	(7	)	⁽³⁾	$	1,945
At December 31, 2014
Marketable equity securities:
U.S. large cap	$	563	$	594	$	—			$	1,157
Marketable debt securities:
Corporate debt instruments	242		9		(1		)		250
U.S. Treasury securities and agency debentures	197		3		(2		)		198
State and municipal	197		13		—				210
Other	23		—		—				23
Cost method investments	86		—		—				86
Cash equivalents and other⁽²⁾	6		—		—				6
Total	$	1,314	$	619	$	(3	)	⁽³⁾	$	1,930


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


(2)	Includes pending sales of securities of $8 million and $6 million at December 31, 2015 and 2014, respectively.


(3)	The fair value of securities in an unrealized loss position was $281 million and $170 million at December 31, 2015 and 2014, respectively.

Investments Classified by Contractual Maturity Date

The fair value of Virginia Power's marketable debt securities at December 31, 2015, by contractual maturity is as follows:



	Amount
(millions)
Due in one year or less	$	67
Due after one year through five years	166
Due after five years through ten years	236
Due after ten years	236
Total	$	705

Marketable Securities

Presented below is selected information regarding Virginia Power's marketable equity and debt securities held in nuclear decommissioning trust funds.



Year Ended December 31,	2015		2014		2013
(millions)
Proceeds from sales	$	639	$	549	$	572
Realized gains⁽¹⁾	110		73		52
Realized losses⁽¹⁾	43		12		14


(1)	Includes realized gains and losses recorded to the nuclear 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 held in nuclear decommissioning trust funds as follows:



Year Ended December 31,	2015			2014			2013
(millions)
Total other-than-temporary impairment losses⁽¹⁾	$	36		$	8		$	15
Losses recorded to nuclear decommissioning trust regulatory liability	(26		)	(4		)	(13		)
Losses recorded in other comprehensive income (before taxes)	(6		)	(2		)	(1		)
Net impairment losses recognized in earnings	$	4		$	2		$	1


(1)	Amounts include other-than-temporary impairment losses for debt securities of $6 million, $2 million and $9 million at December 31, 2015, 2014 and 2013, 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 + Details