Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 7. Accumulated Other Comprehensive Income (Loss)

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 September 30, 2021
Beginning balance	$	(371	)	$	41		$	(1,309	)	$	(1	)	$	(1,640	)
Other comprehensive income before reclassifications:    gains (losses)		(2	)		4			(1	)		(3	)		(2	)
Amounts reclassified from AOCI: (gains) losses(1)		10			(3	)		19			—			26
Net current period other comprehensive income (loss)		8			1			18			(3	)		24
Ending balance	$	(363	)	$	42		$	(1,291	)	$	(4	)	$	(1,616	)
Three Months Ended September 30, 2020
Beginning balance	$	(644	)	$	51		$	(1,385	)	$	(2	)	$	(1,980	)
Other comprehensive income before reclassifications:    gains (losses)		10			4			(261	)		1			(246	)
Amounts reclassified from AOCI: (gains) losses(1)		188			(1	)		23			—			210
Net current period other comprehensive income (loss)		198			3			(238	)		1			(36	)
Ending balance	$	(446	)	$	54		$	(1,623	)	$	(1	)	$	(2,016	)
Nine Months Ended September 30, 2021
Beginning balance	$	(419	)	$	62		$	(1,359	)	$	(1	)	$	(1,717	)
Other comprehensive income before reclassifications:    gains (losses)		21			(15	)		5			(3	)		8
Amounts reclassified from AOCI: (gains) losses(1)		35			(5	)		63			—			93
Net current period other comprehensive income (loss)		56			(20	)		68			(3	)		101
Ending balance	$	(363	)	$	42		$	(1,291	)	$	(4	)	$	(1,616	)
Nine Months Ended September 30, 2020
Beginning balance	$	(407	)	$	37		$	(1,421	)	$	(2	)	$	(1,793	)
Other comprehensive income before reclassifications:    gains (losses)		(254	)		32			(262	)		1			(483	)
Amounts reclassified from AOCI: (gains) losses(1)		215			(15	)		60			—			260
Net current period other comprehensive income (loss)		(39	)		17			(202	)		1			(223	)
Ending balance	$	(446	)	$	54		$	(1,623	)	$	(1	)	$	(2,016	)

(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 September 30, 2021
Deferred (gains) and losses on derivatives-hedging activities:
Interest rate contracts	$	14		Interest and related charges
Total		14
Tax		(4	)	Income tax expense (benefit)
Total, net of tax	$	10
Unrealized (gains) and losses on investment securities:
Realized (gains) losses on sale of securities	$	(4	)	Other income
Total		(4	)
Tax		1		Income tax expense (benefit)
Total, net of tax	$	(3	)
Unrecognized pension and other postretirement benefit costs:
Amortization of prior-service costs (credits)	$	(5	)	Other income
Amortization of actuarial losses		30		Other income
Total		25
Tax		(6	)	Income tax expense (benefit)
Total, net of tax	$	19
Three Months Ended September 30, 2020
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	(8	)	Operating revenue
Interest rate contracts		23		Interest and related charges
		230		Discontinued operations
Foreign currency contracts		6		Discontinued operations
Total		251
Tax		(63	)	Income tax expense (benefit)
Total, net of tax	$	188
Unrealized (gains) and losses on investment securities:
Realized (gains) losses on sale of securities	$	(3	)	Other income
Total		(3	)
Tax		2		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
Amortization of actuarial losses		36		Other income
Total		31
Tax		(8	)	Income tax expense (benefit)
Total, net of tax	$	23
Details about AOCI components	Amounts reclassified from AOCI			Affected line item in the Consolidated Statements of Income
(millions)
Nine Months Ended September 30, 2021
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	1		Purchased gas
Interest rate contracts		46		Interest and related charges
Total		47
Tax		(12	)	Income tax expense (benefit)
Total, net of tax	$	35
Unrealized (gains) and losses on investment securities:
Realized (gains) losses on sale of securities	$	(7	)	Other income
Total		(7	)

Tax		2		Income tax expense (benefit)
Total, net of tax	$	(5	)
Unrecognized pension and other postretirement benefit costs:
Amortization of prior-service costs (credits)	$	(15	)	Other income
Amortization of actuarial losses		100		Other income
Total		85
Tax		(22	)	Income tax expense (benefit)
Total, net of tax	$	63
Nine Months Ended September 30, 2020
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	(22	)	Operating revenue
		3		Purchased gas
		(2	)	Discontinued operations
Interest rate contracts		66		Interest and related charges
		236		Discontinued operations
Foreign currency contracts		6		Discontinued operations
Total		287
Tax		(72	)	Income tax expense (benefit)
Total, net of tax	$	215
Unrealized (gains) and losses on investment securities:
Realized (gains) losses on sale of securities	$	(21	)	Other income
Total		(21	)
Tax		6		Income tax expense (benefit)
Total, net of tax	$	(15	)
Unrecognized pension and other postretirement benefit costs:
Amortization of prior-service costs (credits)	$	(16	)	Other income
Amortization of actuarial losses		97		Other income
Total		81
Tax		(21	)	Income tax expense (benefit)
Total, net of tax	$	60

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 September 30, 2021
Beginning balance	$	(39	)	$	6		$	(33	)
Other comprehensive income before reclassifications:    gains (losses)		(2	)		—			(2	)
Amounts reclassified from AOCI: (gains) losses(1)		—			(1	)		(1	)
Net current period other comprehensive income (loss)		(2	)		(1	)		(3	)
Ending balance	$	(41	)	$	5		$	(36	)
Three Months Ended September 30, 2020
Beginning balance	$	(78	)	$	8		$	(70	)
Other comprehensive income before reclassifications:    gains (losses)		5			—			5
Amounts reclassified from AOCI: (gains) losses(1)		1			(1	)		—
Net current period other comprehensive income (loss)		6			(1	)		5
Ending balance	$	(72	)	$	7		$	(65	)
Nine Months Ended September 30, 2021
Beginning balance	$	(60	)	$	8		$	(52	)
Other comprehensive income before reclassifications:    gains (losses)		18			(2	)		16
Amounts reclassified from AOCI: (gains) losses(1)		1			(1	)		—
Net current period other comprehensive income (loss)		19			(3	)		16
Ending balance	$	(41	)	$	5		$	(36	)
Nine Months Ended September 30, 2020
Beginning balance	$	(34	)	$	5		$	(29	)
Other comprehensive income before reclassifications:    gains (losses)		(39	)		4			(35	)
Amounts reclassified from AOCI: (gains) losses(1)		1			(2	)		(1	)
Net current period other comprehensive income (loss)		(38	)		2			(36	)
Ending balance	$	(72	)	$	7		$	(65	)

(1) Amounts are allocated as follows within Virginia Power’s Consolidated Statements of Income; deferred gains and losses on derivatives – hedging activities are recorded to interest and related charges, unrealized gains and losses on investment securities are recorded to other income and associated tax amounts are recorded to income tax expense.