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Investments (Tables)
Nov. 18, 2019
Equity and Fixed Income Securities, Insurance Contracts and Cash Equivalents in Decommissioning Trust Funds Dominion Energy’s decommissioning trust funds are summarized below:
 
             Amortized             
Cost
 
  
 
  
Total
           Unrealized           
Gains
 
  
 
  
Total
    Unrealized    
Losses
 
  
 
Fair
      Value      
 
                                         
(millions)
 
   
   
   
   
   
 
 
June 30, 2019
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
Equity securities:
(1)
    
     
     
     
     
   
   
 
U.S.
 
$
1,776
 
  
 
 
  
$
2,120
 
  
 
 
  
$
(21
)
 
 
$
3,875
 
Fixed income securities:
(2)
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
Corporate debt instruments
 
 
474
 
  
 
 
  
 
27
 
  
 
 
  
 
(1
)
 
 
 
500
 
Government securities
 
 
1,073
 
  
 
 
  
 
41
 
  
 
 
  
 
(2
)
 
 
 
1,112
 
Common/collective trust funds
 
 
63
 
  
 
 
  
 
—
 
  
 
 
  
 
—
 
  
 
 
63
 
Insurance contracts
 
 
206
 
  
 
 
  
 
—
 
  
 
 
  
 
—
 
  
 
 
206
 
Cash equivalents and other
(3)
  
 
11
 
  
 
 
  
 
—
 
  
 
 
  
 
—
 
  
 
 
11
 
                                                     
Total
 
$
3,603
 
  
 
 
  
$
2,188
 
  
 
 
  
$
(24
)
  
(4)
  
$
5,767
 
                                                     
December 31, 2018
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
Equity securities:
(1)
    
     
     
     
     
   
   
 
U.S.
  $
1,741
     
    $
1,640
     
    $
(51
 )  
  $
3,330
 
Fixed income securities:
(2)
    
     
     
     
     
   
   
 
Corporate debt instruments
   
435
     
     
5
     
     
(9
 )  
   
431
 
Government securities
   
1,092
     
     
17
     
     
(12
 )  
   
1,097
 
Common/collective trust funds
   
76
     
     
—
     
     
—
   
   
76
 
Cash equivalents and other
   
4
     
     
—
     
     
—
   
   
4
 
                                                     
Total
  $
3,348
     
    $
1,662
     
    $
(72
 )  
(4)
   $
4,938
 
                                                     
(1)
Unrealized gains and losses on equity securities are included in other income and the nuclear decommissioning trust regulatory liability.
(2)
Unrealized gains and losses on fixed income securities are included in AOCI and the nuclear decommissioning trust regulatory liability
.
(3)
Includes pending sales of securities of $
3
 million at June 30, 2019
.
 
(4)
The fair value of securities in an unrealized loss position was $
208
 million and $
833
 million at June 30, 2019 and December 31, 2018, respectively.
Unrealized Gain Loss on Equity
The portion of unrealized gains and losses that relates to equity securities held within Dominion Energy’s nuclear decommissioning trusts is summarized below:
 
        Three Months Ended June 30,        
    
        Six Months Ended June 30,        
  
  
2019
 
  
2018
   
2019
 
  
2018
 
                         
(millions)
 
   
   
   
 
Net gains recognized during the period
 
$
156
 
   $
89
   
$
570
 
   $
24
 
Less: Net gains recognized during the period on securities sold during the period
 
 
(25
)
   
(16
 )  
 
(44
)
   
(35
 )
                                 
Unrealized gains (losses) recognized during the period on securities still held at June 30, 2019 and 2018
(1)
  
$
131
 
   $
73
   
$
526
 
   $
(11
 )
                                 
(1)
Included in other income and the nuclear decommissioning trust regulatory liability.
Investments Classified by Contractual Maturity Date
The fair value of Dominion Energy’s fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds at June 30, 2019 by contractual maturity is as follows:
 
                        Amount                        
 
       
(millions)
 
 
Due in one year or less
 
$
203
 
Due after one year through five years
 
 
397
 
Due after five years through ten years
 
 
387
 
Due after ten years
 
 
688
 
         
Total
 
$
1,675
 
         
Marketable Securities
Presented below is selected information regarding Dominion Energy’s equity and fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds.
             
  
Three Months Ended June 30,
   
Six Months Ended June 30,
 
  
                2019        
 
  
            2018        
    
                2019        
 
  
                2018        
  
                         
(millions)
 
 
  
   
 
  
 
                                 
Proceeds from sales
 
$
376
 
   $
425
   
    $
882
 
   $
844
 
                                 
Realized gains
(1)
  
 
56
 
    
36
   
 
99
 
    
72
 
                                 
Realized losses
(1)
  
 
27
 
    
23
   
 
50
 
    
42
 
(1)
Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.
Virginia Electric and Power Company  
Equity and Fixed Income Securities, Insurance Contracts and Cash Equivalents in Decommissioning Trust Funds Virginia Power’s decommissioning trust funds are summarized below:
 
        Amortized        
Cost
 
  
Total
            Unrealized            
Gains
 
  
Total
    Unrealized    
Losses
 
  
Fair
        Value        
 
                         
(millions)
 
   
   
   
 
                                 
June 30, 2019
   
     
     
     
 
                                 
Equity securities:
(1)
  
 
 
  
 
 
  
 
 
  
 
 
                                 
U.S.
 
$
888
 
  
$
981
 
  
$
(11
)
 
$
1,858
 
                                 
Fixed income securities:
(2)
  
 
 
  
 
 
  
 
 
  
 
 
                                 
Corporate debt instruments
 
 
244
 
  
 
13
 
  
 
—
 
  
 
257
 
                                 
Government securities
 
 
500
 
  
 
18
 
  
 
(1
)
 
 
517
 
                                 
Common/collective trust funds
 
 
47
 
  
 
—
 
  
 
—
 
  
 
47
 
                                 
Cash equivalents and other
(3)
  
 
3
 
  
 
—
 
  
 
—
 
  
 
3
 
                                 
                                 
Total
 
$
1,682
 
  
$
1,012
 
  
$
(12
) 
(4)
  
$
2,682
 
                                 
                                 
December 31, 2018
   
     
     
     
 
                                 
Equity securities:
(1)
    
     
     
     
 
                                 
U.S.
  $
858
    $
751
    $
(24
 )   $
1,585
 
                                 
Fixed income securities:
(2)
    
     
     
     
 
                                 
Corporate debt instruments
   
224
     
2
     
(5
 )    
221
 
                                 
Government securities
   
504
     
7
     
(5
 )    
506
 
                                 
Common/collective trust funds
   
51
     
—
     
—
     
51
 
                                 
Cash equivalents and other
(3)
    
6
     
—
     
—
     
6
 
                                 
                                 
Total
  $
1,643
    $
760
    $
(34
 ) 
(4)
   $
2,369
 
                                 
(1)
Unrealized gains and losses on equity securities are included in other income and the nuclear decommissioning trust regulatory liability.
(2)
Unrealized gains and losses on fixed income securities are included in AOCI and the nuclear decommissioning trust regulatory liability
.
(3)
Includes pending sales of securities of $
3
 million and $
6
million at June 30, 2019 and December 31, 2018, respectively.
(4)
The fair value of securities in an unrealized loss position was $
97
 million and $
404
​​​​​​​million at June 30, 2019 and December 31, 2018, respectively.
Unrealized Gain Loss on Equity
The portion of unrealized gains and losses that relates to equity securities held within Virginia Power’s nuclear decommissioning trusts is summarized below:
             
  
Three Months Ended June 30,
   
Six Months Ended June 30,
 
  
2019
 
  
2018
   
2019
 
  
2018
 
                         
(millions)
 
 
  
 
  
 
  
 
                                 
Net gains recognized during the period
 
$
70
 
   $
44
   
$
256
 
   $
             12
 
                                 
Less: Net gains recognized during the period on securities sold during the period
 
 
(7
)
   
(8
 )  
 
(8
)
   
(23
 )
                                 
                                 
Unrealized gains (losses) recognized during the period on securities still held at June 30, 2019 and 2018
(1)
  
$
             63
 
   $
             36
   
$
             248
 
   $
(11
 )
                                 
(1)
Included in other income and the nuclear decommissioning trust regulatory liability.
Investments Classified by Contractual Maturity Date
The fair value of Virginia Power’s fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds at June 30, 2019 by contractual maturity is as follows:
       
  
Amount
 
       
(millions)
 
 
         
Due in one year or less
 
$
98
 
         
Due after one year through five years
 
 
154
 
         
Due after five years through ten years
 
 
212
 
         
Due after ten years
 
 
357
 
         
         
Total
 
$
                                 821
 
         
Marketable Securities
Presented below is selected information regarding Virginia Power’s equity and fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds.
             
  
Three Months Ended June 30,
   
Six Months Ended June 30,
 
  
    2019    
 
  
    2018    
    
    2019    
 
  
    2018    
  
                         
(millions)
 
 
  
   
 
  
 
                                 
Proceeds from sales
 
$
             194
 
   $
             196
   
$
             447
 
   $
             414
 
                                 
Realized gains
(1)
  
 
15
 
    
15
   
 
25
 
    
33
 
                                 
Realized losses
(1)
  
 
3
 
    
7
   
 
12
 
    
12
 
(1)
Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.