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Leases
6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Leases

Note 14. Leases

Other than the items discussed below, there have been no significant changes regarding the Companies’ leases as described in Note 15 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2020.

 

Dominion Energy’s Consolidated Statements of Income include $55 million and $89 million for the three and six months ended June 30, 2021, respectively, and $53 million and $85 million for the three and six months ended June 30, 2020, respectively, of rental revenue included in operating revenue. Dominion Energy’s Consolidated Statements of Income include $31 million and $58 million for the three and six months ended June 30, 2021, respectively, and $27 million and $50 million for the three and six months ended June 30, 2020, respectively, of depreciation expense included in depreciation, depletion and amortization, related to facilities subject to power purchase agreements under which Dominion Energy is the lessor.

 

Corporate Office Leasing Arrangement

 

In December 2019, Dominion Energy signed an agreement with a lessor, as amended in May 2020, to construct and lease a new corporate office property in Richmond, Virginia. The lessor provided equity and had obtained financing commitments from debt investors, totaling $465 million, to fund the estimated project costs. In March 2021, Dominion Energy notified the lessor of its intention to terminate the leasing arrangement effective April 2021. As a result, Dominion Energy recorded a charge of $71 million ($53 million after-tax) in the first quarter of 2021, included in impairments of assets and other charges in its Consolidated Statements of Income, primarily for amounts required to be repaid to the lessor.