QUARTERLY FINANCIALAND COMMON STOCKDATA (UNAUDITED)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIALAND COMMON STOCKDATA (UNAUDITED)

NOTE 26. QUARTERLY FINANCIAL AND COMMON STOCK DATA (UNAUDITED)

A summary of the Companies’ quarterly results of operations for the years ended December 31, 2017 and 2016 follows. Amounts reflect all adjustments necessary in the opinion of management for a fair statement of the results for the interim periods. Results for interim periods may fluctuate as a result of weather conditions, changes in rates and other factors.

DOMINION ENERGY

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
(millions, except per share amounts)
2017
Operating revenue	$	3,384	$	2,813	$	3,179	$	3,210
Income from operations		1,125		801		1,200		1,004
Net income including noncontrolling interests		674		417		696		1,333
Net income attributable to Dominion Energy		632		390		665		1,312
Basic EPS:
Net income attributable to Dominion Energy		1.01		0.62		1.03		2.04
Diluted EPS:
Net income attributable to Dominion Energy		1.01		0.62		1.03		2.04
Dividends declared per share		0.755		0.755		0.770		0.770
Common stock prices (intraday high-low)	$	79.36 - 70.87	$	81.65 - 76.17	$	80.67 - 75.40	$	85.30 - 75.75
2016
Operating revenue	$	2,921	$	2,598	$	3,132	$	3,086
Income from operations		882		781		1,145		819
Net income including noncontrolling interests		531		462		728		491
Net income attributable to Dominion Energy		524		452		690		457
Basic EPS:
Net income attributable to Dominion Energy		0.88		0.73		1.10		0.73
Diluted EPS:
Net income attributable to Dominion Energy		0.88		0.73		1.10		0.73
Dividends declared per share		0.700		0.700		0.700		0.700
Common stock prices (intraday high-low)	$	75.18 - 66.25	$	77.93 - 68.71	$	78.97 - 72.49	$	77.32 - 69.51

Dominion Energy’s 2017 results include the impact of the following significant item:

• Fourth quarter results include $851 million tax benefit resulting from the remeasurement of deferred income taxes as a result of the 2017 Tax Reform Act, partially offset by $96 million of after-tax charges associated with our equity method investments in wind-powered generation facilities

Dominion Energy’s 2016 results include the impact of the following significant item:

• Fourth quarter results include a $122 million after-tax charge related to future ash pond and landfill closure costs at certain utility generation facilities.

VIRGINIA POWER

Virginia Power’s quarterly results of operations were as follows:

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
(millions)
2017
Operating revenue	$	1,831	$	1,747	$	2,154	$	1,824
Income from operations		653		613		847		619
Net income		356		318		459		407
2016
Operating revenue	$	1,890	$	1,776	$	2,211	$	1,711
Income from operations		514		553		914		369
Net income		263		280		503		172

Virginia Power’s 2017 results include the impact of the following significant item:

• Fourth quarter results include a $93 million tax benefit resulting from the remeasurement of deferred income taxes as a result of the 2017 Tax Reform Act.

Virginia Power’s 2016 results include the impact of the following significant item:

• Fourth quarter results include a $121 million after-tax charge related to future ash pond and landfill closure costs at certain utility generation facilities.

DOMINION ENERGY GAS

Dominion Energy Gas’ quarterly results of operations were as follows:

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
(millions)
2017
Operating revenue		$490		$422		$401		$501
Income from operations		176		137		206		203
Net income	108		77		117		313
2016
Operating revenue		$431		$368		$382		$457
Income from operations		175		186		133		175
Net income		98		105		83		106

Dominion Energy Gas’s 2017 results include the impact of the following significant item:

• Fourth quarter results include a $197 million tax benefit resulting from the remeasurement of deferred income taxes as a result of the 2017 Tax Reform Act.

There were no significant items impacting Dominion Energy Gas’ 2016 quarterly results.