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Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2019
Long term Debt
At December 31,
 
2019
Weighted-
average
Coupon
(1)
 
  
2019
 
  
2018
 
(millions, except percentages)
 
 
  
 
  
 
Dominion Energy Gas Holdings, LLC:
 
 
 
  
 
 
    
 
Unsecured senior notes:
 
 
 
  
 
 
    
 
Variable rate, due 2021
 
 
2.49
%
 
 $
500
 
   $
500
 
2.5% to 4.8%, due 2019 to 2049
(2)
  
 
3.44
%
 
 
4,631
 
    
3,587
 
Cove Point, term loan, due 2021
(3)
  
 
 
  
 
—
 
    
3,000
 
Dominion Energy Midstream:
 
 
 
  
 
 
    
 
Term loan, variable rate, due 2019
 
 
 
  
 
—
 
    
300
 
Revolving credit agreement, variable rate, due 2021
(4)
  
 
 
  
 
—
 
    
73
 
Dominion Energy Questar Pipeline, unsecured senior notes, 3.53% to 4.875%, due 2028 to 2041
 
 
4.23
%
 
 
430
 
    
430
 
Dominion Energy Gas Holdings, LLC total principal
 
 
 
  
 $
5,561
 
   $
7,890
 
Securities due within one year
 
 
2.80
%
 
 
(699
)
    
(748
 )
Credit facility borrowings
(4)
  
 
 
  
 
—
 
    
(73
 )
Unamortized discount and debt issuance costs
 
 
 
  
 
(41
)
   
(47
 )
Finance leases
 
 
 
  
 
5
 
    
—
 
Dominion Energy Gas Holdings, LLC total long-term debt
 
 
 
  
 $
4,826
 
   $
7,022
 
Virginia Electric and Power Company:
 
 
 
  
 
 
    
 
Unsecured senior notes:
 
 
 
  
 
 
    
 
2.75% to 8.875%, due 2019 to 2049
 
 
4.27
%
 
$
 11,789
 
   $
11,090
 
Tax-
exempt financings, 1.80% to 5.0%, due 2023 to 2041
(5)
(6)
  
 
2.02
%
 
 
625
 
    
664
 
Virginia Electric and Power Company total principal
 
 
 
  
 $
12,414
 
   $
11,754
 
Securities due within one year
 
 
4.29
%
 
 
(1
)
    
(350
 )
Unamortized discount, premium and debt issuances costs, net
 
 
 
  
 
(88
)
   
(83
 )
Finance leases
 
 
 
  
 
16
 
    
—
 
Virginia Electric and Power Company total long-term debt
 
 
 
  
 $
12,341
 
   $
11,321
 
Dominion Energy, Inc.:
 
 
 
  
 
 
    
 
Unsecured senior notes:
 
 
 
  
 
 
    
 
Variable rates, due 2019 and 2020
 
 
2.31
%
 
 $
300
 
   $
800
 
1.6% to 7.0%, due 2019 to 2049
(7)
  
 
4.15
%
 
 
7,688
 
    
7,488
 
Unsecured junior subordinated notes:
 
 
 
  
 
 
    
 
2.579% to 4.104%, due 2019 to 2024
 
 
3.01
%
 
 
2,950
 
    
2,100
 
Payable to affiliated trust, 8.4%, due 2031
 
 
8.40
%
 
 
10
 
    
10
 
Enhanced junior subordinated notes:
 
 
 
  
 
 
    
 
Variable rates, due 2066
(8)
  
 
4.41
%
 
 
397
 
    
422
 
5.25% and 5.75%, due 2054 and 2076
 
 
5.48
%
 
 
1,485
 
    
1,485
 
Remarketable subordinated notes, 2.0%, due 2021 and 2024
 
 
 
  
 
—
 
    
1,400
 
Questar Gas, unsecured senior notes, 2.98% to 7.20%, due 2024 to 2051
 
 
4.25
%
 
 
750
 
    
750
 
SCANA:
 
 
 
  
 
 
    
 
Unsecured medium term notes, 4.125% to 6.25%, due 2020 to 2022
(9)(10)
  
 
5.06
%
 
 
508
 
    
—
 
Unsecured senior notes, variable rate, due 2034
(11)
  
 
2.61
%
 
 
66
 
    
—
 
PSNC, senior debentures and notes, 4.13% to 7.45%, due 2020 to 2047
 
 
5.05
%
 
 
700
 
    
—
 
DESC:
 
 
 
  
 
 
    
 
First mortgage bonds, 3.22% to 6.625%, due 2021 to 2065
(12)
  
 
5.42
%
 
 
3,267
 
    
—
 
Tax-
exempt financings:
(13)
  
 
 
  
 
 
    
 
Variable rate due 2038
 
 
1.65
%
 
 
35
 
    
—
 
GENCO, variable rates due 2038
(14)
  
 
1.65
%
 
 
33
 
    
—
 
3.625% and 4.00%, due 2028 and 2033
 
 
3.90
%
 
 
54
 
    
—
 
Other
 
 
3.69
%
 
 
1
 
    
—
 
Secured senior notes, 4.82%, due 2042
(15)
  
 
4.82
%
 
 
345
 
    
362
 
Term loans, variable rates, due 2023 and 2024
(15)
  
 
4.24
%
 
 
527
 
    
582
 
Tax-
exempt financing, 1.7%, due 2033
  
 
1.70
%
 
 
27
 
    
27
 
Dominion Energy Gas Holdings, LLC total principal (from above)
 
 
 
  
 
5,561
 
    
7,890
 
Virginia Electric and Power Company total principal (from above)
 
 
 
  
 
12,414
 
    
11,754
 
Dominion Energy, Inc. total principal
 
 
 
  
 $
37,118
 
   $
35,070
 
Fair value hedge valuation
(16)
  
 
 
  
 
4
 
    
(20
 )
Securities due within one year
(8)(10)(11)(17)
  
 
3.41
%
 
 
(3,133
)
    
(3,624
 )
Credit facility borrowings
(4)
  
 
 
  
 
—
 
    
(73
 )
Unamortized discount, premium and debt issuance costs, net
 
 
 
  
 
(270
)
   
(248
 )
Finance leases
 
 
 
  
 
105
 
    
39
 
Dominion Energy, Inc. total long-term debt
 
 
 
  
 $
 33,824
 
   $
31,144
 
(1)
Represents weighted-average coupon rates for debt outstanding as of December 31, 2019.
 
 
 
(2)
Amount includes foreign currency remeasurement adjustments.
 
 
 
(3)
In September 2019, Cove Point repaid its $3.0 billion term loan due in 2021.
 
 
 
(4)
In February 2019, Dominion Energy Midstream repaid its $300 million variable rate term loan due in December 2019 and terminated the credit facility due in March 2021 subsequent to repaying the $73 million outstanding balance. As such, credit facility borrowings are presented within current liabilities in Dominion Energy Gas’ Consolidated Balance Sheets at December 31, 2018.
 
 
 
(5)
These financings relate to certain pollution control equipment at Virginia Power’s generating facilities.
 
 
 
(6)
In May 2019, Virginia Power redeemed its $40 million 5.0% Economic Development Authority of the County of Chesterfield Pollution Control Refunding Revenue Bonds, Series 2009A, due in 2023 at the principal outstanding plus accrued interest.
 
 
 
(7)
Includes debt assumed by Dominion Energy from the merger of its former CNG subsidiary.
 
 
 
(8)
In February 2020, Dominion Energy purchased and cancelled the remaining $111 million and $286 million of its June 2006 hybrids and September 2006 hybrids, respectively, both of which would have otherwise matured in 2066. As such, these borrowings are presented within securities due within one year in Dominion Energy’s Consolidated Balance Sheets at December 31, 2019.
 
 
 
(9)
In March 2019, SCANA purchased certain of its medium term notes having an aggregate purchase price of $300 million pursuant to tender offer that expired in the first quarter of 2019.
 
 
 
(10)
In February 2020, SCANA provided notice to redeem the remaining principal outstanding of $183 million of its 4.75% medium-term notes and $155 million of its 4.125% medium-term notes plus accrued interest and make-whole premiums in March 2020. The notes would have otherwise matured in May 2021 and February 2022, respectively. As such, these borrowings are presented within securities due within one year in Dominion Energy’s Consolidated Balance Sheets at December 31, 2019.
 
 
 
(11)
In January 2020, SCANA provided notice to redeem its floating rate senior notes at the remaining principal outstanding of $66 million plus accrued interest in March 2020. The notes would have otherwise matured in June 2034. As such, these borrowings are presented within securities due within one year in Dominion Energy’s Consolidated Balance Sheets at December 31, 2019.
 
 
 
(12)
In February, March and September 2019, DESC purchased certain of its first mortgage bonds having an aggregate purchase price of $1.8 billion pursuant to tender offers. The February and March tender offers expired in the first quarter of 2019 and the September tender offer expired in the third quarter of 2019.
 
 
 
(13)
Industrial revenue bonds totaling $68 million are secured by letters of credit 
that
expire, subject to renewal, in the fourth quarter of 2020.
 
(1
4
)
In May 2019, GENCO redeemed its 5.49% senior secured notes due in 2024 at the remaining principal outstanding of $33 million plus accrued interest. In June 2019, the first mortgage lien on an electric generating facility that previously secured these notes was released.
 
 
 
(1
5
)
Represents debt associated with Eagle Solar, SBL Holdco and Dominion Solar Projects III, Inc. The debt is nonrecourse to Dominion Energy and is secured by Eagle Solar’s, SBL Holdco’s and Dominion Solar Projects III, Inc’s interest in certain solar facilities.
 
 
 
(1
6
)
Represents the valuation of certain fair value hedges associated with Dominion Energy’s fixed rate debt.
 
 
 
(1
7
)
Includes $20 million of estimated mandatory prepayments due within one year based on estimated cash flows in excess of debt service at SBL Holdco and Dominion Solar Projects III, Inc.
 
 
Scheduled Principal Payments of Long-Term Debt
Based on stated maturity dates rather than early redemption dates that could be elected by instrument holders, the scheduled principal payments of long-term debt at December 31, 2019, were as follows:
                                                         
 
2020
   
2021
   
2022
   
2023
   
2024
   
Thereafter
   
Total
 
(millions, except percentages)
 
 
  
   
   
   
   
   
 
Dominion Energy Gas
 
$
700
 
  
$
500
 
  
$
—
 
  
$
650
 
  
$
1,050
 
  
$
2,661
 
  
$
5,561
 
Weighted-average coupon
 
 
2.80
%
 
 
2.49
%
 
 
—
 
  
 
3.29
%
 
 
2.97
%
 
 
3.95
%
 
 
 
Virginia Power
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
Unsecured senior notes
 
$
—
 
  
$
—
 
  
$
750
 
  
$
700
 
  
$
350
 
  
$
9,989
 
  
$
11,789
 
Tax-
exempt financings
  
 
—
 
  
 
—
 
  
 
—
 
  
 
—
 
  
 
 
  
 
625
 
  
 
625
 
Total
 
$
—
 
  
$
—
 
  
$
750
 
  
$
700
 
  
$
350
 
  
$
10,614
 
  
$
12,414
 
Weighted-average coupon
 
 
—
 
  
 
—
 
  
 
3.15
%
 
 
2.75
%
 
 
3.45
%
 
 
4.35
%
 
 
 
Dominion Energy
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
Term loans
(1
)
  
$
35
 
  
$
35
 
  
$
34
 
  
$
259
 
  
$
164
 
  
$
—
 
  
$
527
 
First mortgage bonds
 
 
—
 
  
 
33
 
  
 
—
 
  
 
—
 
  
 
—
 
  
 
3,234
 
  
 
3,267
 
Unsecured senior notes
(2)(3)
  
 
1,275
 
  
 
1,237
 
  
 
1,659
 
  
 
2,355
 
  
 
1,745
 
  
 
19,092
 
  
 
27,363
 
Secured senior notes
 
 
15
 
  
 
17
 
  
 
19
 
  
 
16
 
  
 
17
 
  
 
261
 
  
 
345
 
Tax-
exempt financings
  
 
—
 
  
 
—
 
  
 
—
 
  
 
—
 
  
 
—
 
  
 
774
 
  
 
774
 
Unsecured junior subordinated notes payable
to affiliated trusts
 
 
—
 
  
 
—
 
  
 
—
 
  
 
—
 
  
 
—
 
  
 
10
 
  
 
10
 
Unsecured junior subordinated notes
 
 
1,000
 
  
 
1,250
 
  
 
—
 
  
 
—
 
  
 
700
 
  
 
—
 
  
 
2,950
 
Enhanced junior subordinated notes
(4)
  
 
—
 
  
 
—
 
  
 
—
 
  
 
—
 
  
 
—
 
  
 
1,882
 
  
 
1,882
 
Total
 
$
2,325
 
  
$
2,572
 
  
$
1,712
 
  
$
2,630
 
  
$
2,626
 
  
$
25,253
 
  
$
37,118
 
Weighted-average coupon
 
 
3.09
%
 
 
3.15%
 
  
 
3.10
%
 
 
2.95%
 
  
 
3.19%
 
  
 
4.62
%
 
 
 
 
 
 
 
(1)
Excludes mandatory prepayments associated with SBL Holdco and Dominion Solar Projects III, Inc. based on cash flows in excess of debt service. At December 31, 2019, $20 million of estimated mandatory prepayments due within one year were included in securities due within one year in Dominion Energy’s Consolidated Balance Sheets.
 
 
 
(2)
In January 2020, SCANA provided notice to redeem its floating rate senior notes at the remaining principal outstanding of $66 million plus accrued interest in March 2020. The notes would have otherwise matured in June 2034.
 
 
 
(3)
In February 2020, SCANA provided notice to redeem the remaining principal outstanding of $183 million of its 4.75% medium-term notes and $155 million of its 4.125% medium-term notes plus accrued interest and make-whole premiums in March 2020. The notes would have otherwise matured in May 2021 and February 2022, respectively.
 
 
 
(4)
In February 2020, Dominion Energy purchased and cancelled the remaining $111 million and $286 million of its June 2006 hybrids and September 2006 hybrids, respectively, both of which would have otherwise matured in 2066. As such, these borrowings are presented within current liabilities in Dominion Energy’s Consolidated Balance Sheets at December 31, 2019.