Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Results of Operations Reported As Discontinued Operations

The following table represents selected information regarding the results of operations of East Ohio, which are reported as discontinued operations in Dominion Energy Gas’ Consolidated Statements of Income:


	Period Ended November 6, 2019		Year Ended December 31, 2018		Year Ended December 31, 2017
(millions)
Operating revenue	$	594	$	729	$	728
Depreciation and amortization		73		76		71
Other operating expenses		399		444		428
Other income		61		72		50
Interest and related charges		33		37		33
Income tax expense		26		53		86
Net income from discontinued operations		124		191		160

Schedule of Major Classes of Assets and Liabilities Reported As Discontinued Operation

The carrying amounts of major classes of assets and liabilities relating to East Ohio, which are reported as discontinued operations in Dominion Energy Gas’ Consolidated Balance Sheets were as follows:


	At December 31, 2018
(millions)
Current assets of discontinued operations (1)	$	423
Investments		2
Property, plant and equipment, net		3,669
Regulatory assets		711
Other deferred charges and other assets, including goodwill and intangible assets		1,275
Noncurrent assets of discontinued operations		5,657
Current liabilities of discontinued operations		1,262
Long-term debt		1,300
Deferred income taxes and investment tax credits		716
Regulatory liabilities		747
Other deferred credits and liabilities		108
Noncurrent liabilities of discontinued operations		2,871

(1)	Includes cash and cash equivalents of $9 million as of December 31, 2018.

Schedule of Capital Expenditures and Significant Noncash Items Reported As Discontinued Operations

Capital expenditures and significant noncash items relating to East Ohio included the following:


	Period Ended November 6, 2019		Year Ended December 31, 2018		Year Ended December 31, 2017
(millions)
Capital expenditures	$	299	$	352	$	348
Significant noncash items :
Charge related to a voluntary retirement program		20		—		—
Accrued capital expenditures		2		5		8

DGP

Schedule of Results of Operations Reported As Discontinued Operations

The following table represents selected information regarding the results of operations of DGP, which are reported as discontinued operations in Dominion Energy Gas’ Consolidated Statements of Income:


	Period Ended November 6, 2019		Year Ended December 31, 2018			Year Ended December 31, 2017
(millions)
Operating revenue	$	125	$	220		$	114
Depreciation and amortization		4		15			15
Impairment of assets and related charges		—		219			—
Other operating expenses		97		206			91
Income tax expense (benefit)		7		(53	)		5
Net income (loss) from discontinued operations	$	17	$	(167	)	$	3

Schedule of Major Classes of Assets and Liabilities Reported As Discontinued Operation

The carrying amounts of major classes of assets and liabilities relating to DGP, which are reported as discontinued operations in Dominion Energy Gas’ Consolidated Balance Sheets were as follows:


	At December 31, 2018
(millions)
Current assets of discontinued operations (1)	$	21
Noncurrent assets of discontinued operations (2)		192
Current liabilities of discontinued operations		11
Noncurrent liabilities of discontinued operations		25

(1)	Includes cash and cash equivalents of less than $1 million.

(2)	Primarily property, plant and equipment, net.

Schedule of Capital Expenditures and Significant Noncash Items Reported As Discontinued Operations

Capital expenditures and significant noncash items of DGP included the following:


	Period Ended November 6, 2019		Year Ended December 31, 2018			Year Ended December 31, 2017
(millions)
Capital expenditures	$	11	$	6		$	8
Significant noncash items :
Impairment of assets and related charges		—		(219	)		—

SCANA

Schedule of Allocation of Purchase Price to Assets Acquired and Liabilities Assumed

The table below shows the allocation of the purchase price to the assets acquired and liabilities assumed at closing, which reflects certain adjustments related to income taxes, as discussed in Note 5, from the preliminary valuation recognized during the measurement period.


	Amount
(millions)
Total current assets (1)	$	1,782
Investments (2)		224
Property, plant and equipment (3)(4)		11,006
Goodwill		2,609
Regulatory assets (5)		3,940
Other deferred charges and other assets, including intangible assets (6)		430
Total Assets		19,991
Total current liabilities (7)		1,556
Long-term debt		6,707
Deferred income taxes		1,068
Regulatory liabilities		2,706
Other deferred credits and other liabilities (8)		1,115
Total Liabilities		13,152
Total purchase price (9)	$	6,839

(1)	Includes $389 million of cash, restricted cash and equivalents, of which $115 million is considered restricted.

(2)	Includes $31 million for equity method investments. The fair value adjustment on the equity method investments is considered to be equity method goodwill and is not amortized.

(

)

Includes $105 million of certain property, plant and equipment associated with the NND Project for which Dominion Energy committed to forgo recovery in accordance with the SCANA Merger Approval Order. As a result, Dominion Energy’s Consolidated Statements of Income for the year ended December 31, 2019 include a charge of $105 million ($79 million

after-tax),

included in impairment of assets and other charges (reflected in the Corporate and Other segment).

(

)

Nonregulated property, plant and equipment, excluding land, will be depreciated on a straight-line basis over the remaining useful lives of such property, primarily ranging from 5 to 78 years.

(

)

Includes $258 million of certain income

tax-related

regulatory assets associated with the NND Project for which Dominion Energy committed to forgo recovery in accordance with the SCANA Merger Approval Order. See Note 5 for additional information.

(

)

Intangible assets have an estimated weighted-average amortization period of approximately five years.

(

)

Includes $40 million outstanding under letters of credit advances, which were repaid in January 2019, as well as $173 million outstanding commercial paper under various credit facilities. As discussed in Note 17, all credit facilities were terminated in 2019.

(

)

Includes a $379 million pension and other postretirement benefit liability.

(

)

Includes stock-based compensation awards with a fair value of $21 million.