Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Accumulated Other Comprehensive Income

Note 7. Accumulated Other Comprehensive Income

Dominion Energy

The following table presents Dominion Energy’s changes in AOCI by component, net of tax:

	Deferred gains and losses on derivatives- hedging activities			Unrealized gains and losses on investment securities			Unrecognized pension and other postretirement benefit costs			Other comprehensive loss from equity method investees			Total
(millions)
Three Months Ended March 31, 2021
Beginning balance	$	(419	)	$	62		$	(1,359	)	$	(1	)	$	(1,717	)
Other comprehensive income before reclassifications:    gains (losses)		39			(31	)		6			—			14
Amounts reclassified from AOCI: (gains) losses(1)		13			1			18			—			32
Net current period other comprehensive income (loss)		52			(30	)		24			—			46
Ending balance	$	(367	)	$	32		$	(1,335	)	$	(1	)	$	(1,671	)
Three Months Ended March 31, 2020
Beginning balance	$	(407	)	$	37		$	(1,421	)	$	(2	)	$	(1,793	)
Other comprehensive income before reclassifications:    gains (losses)		(266	)		9			—			—			(257	)
Amounts reclassified from AOCI: (gains) losses(1)		22			(9	)		19			—			32
Net current period other comprehensive income (loss)		(244	)		—			19			—			(225	)
Ending balance	$	(651	)	$	37		$	(1,402	)	$	(2	)	$	(2,018	)

(1) See table below for details about these reclassifications.

The following table presents Dominion Energy’s reclassifications out of AOCI by component:

Details about AOCI components	Amounts reclassified from AOCI			Affected line item in the Consolidated Statements of Income
(millions)
Three Months Ended March 31, 2021
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	1		Purchased gas
Interest rate contracts		16		Interest and related charges
Total		17
Tax		(4	)	Income tax expense (benefit)
Total, net of tax	$	13
Unrealized (gains) and losses on investment securities:
Realized (gains) losses on sale of securities	$	1		Other income (expense)
Total		1
Tax		—		Income tax expense (benefit)
Total, net of tax	$	1
Unrecognized pension and other postretirement benefit costs:
Amortization of prior-service costs (credits)	$	(5	)	Other income (expense)
Amortization of actuarial losses		30		Other income (expense)
Total		25
Tax		(7	)	Income tax expense (benefit)
Total, net of tax	$	18
Three Months Ended March 31, 2020
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	(6	)	Operating revenue
		3		Purchased gas
		(1	)	Discontinued operations
Interest rate contracts		25		Interest and related charges
		2		Discontinued operations
Foreign currency contracts		6		Discontinued operations
Total		29
Tax		(7	)	Income tax expense (benefit)
Total, net of tax	$	22
Unrealized (gains) and losses on investment securities:
Realized (gains) losses on sale of securities	$	(13	)	Other income (expense)
Total		(13	)
Tax		4		Income tax expense (benefit)
Total, net of tax	$	(9	)
Unrecognized pension and other postretirement benefit costs:
Amortization of prior-service costs (credits)	$	(6	)	Other income (expense)
Amortization of actuarial losses		30		Other income (expense)
Total		24
Tax		(5	)	Income tax expense (benefit)
Total, net of tax	$	19

Virginia Power

The following table presents Virginia Power’s changes in AOCI by component, net of tax:

	Deferred gains and losses on derivatives- hedging activities			Unrealized gains and losses on investment securities			Total
(millions)
Three Months Ended March 31, 2021
Beginning balance	$	(60	)	$	8		$	(52	)
Other comprehensive income before reclassifications:    gains (losses)		32			(5	)		27
Amounts reclassified from AOCI: losses(1)		1			1			2
Net current period other comprehensive income (loss)		33			(4	)		29
Ending balance	$	(27	)	$	4		$	(23	)
Three Months Ended March 31, 2020
Beginning balance	$	(34	)	$	5		$	(29	)
Other comprehensive income before reclassifications:    losses		(45	)		(2	)		(47	)
Amounts reclassified from AOCI: losses(1)		—			1			1
Net current period other comprehensive income (loss)		(45	)		(1	)		(46	)
Ending balance	$	(79	)	$	4		$	(75	)

(1) See table below for details about these reclassifications.

The following table presents Virginia Power’s reclassifications out of AOCI by component:

Details about AOCI components	Amounts reclassified from AOCI			Affected line item in the Consolidated Statements  of Income
(millions)
Three Months Ended March 31, 2021
(Gains) losses on cash flow hedges:
Interest rate contracts	$	1		Interest and related charges
Total		1
Tax		—		Income tax expense (benefit)
Total, net of tax	$	1
Unrealized (gains) and losses on investment securities:
Realized (gains) losses on sale of securities	$	1		Other income (expense)
Total		1
Tax		—		Income tax expense (benefit)
Total, net of tax	$	1
Three Months Ended March 31, 2020
Unrealized (gains) and losses on investment securities:
Realized (gains) losses on sale of securities	$	2		Other income (expense)
Total		2
Tax		(1	)	Income tax expense (benefit)
Total, net of tax	$	1