XML 61 R35.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Operating Segments | 12 Months Ended
--- | ---
Dec. 31, 2016
Segment Reporting Information, Revenue for Reportable Segment [Abstract] |
Operating Segments | O PERATING S EGMENTS The Companies are organized primarily on the basis of products and services sold in the U.S. A description of the operations included in the Companies' primary operating segments is as follows:
Primary Operating Segment | Description of Operations | Dominion | Virginia Power | Dominion Gas
DVP | Regulated electric distribution | X | X |
| Regulated electric transmission | X | X |
Dominion Generation | Regulated electric fleet | X | X |
| Merchant electric fleet | X |  |
Dominion Energy | Gas transmission and storage | X (1) |  | X
| Gas distribution and storage | X |  | X
| Gas gathering and processing | X |  | X
| LNG import and storage | X |  |
| Nonregulated retail energy marketing | X |  |
(1) | Includes remaining producer services activities.
In addition to the operating segments above, the Companies also report a Corporate and Other segment. Dominion The Corporate and Other Segment of Dominion includes its corporate, service company and other functions (including unallocated debt). In addition, Corporate and Other includes specific items attributable to Dominion's operating segments that are not included in profit measures evaluated by executive management in assessing the segments' performance or in allocating resources. In March 2014, Dominion exited the electric retail energy marketing business. As a result, the earnings impact from the electric retail energy marketing business has been included in the Corporate and Other Segment of Dominion for 2014 first quarter results of operations. In the second quarter of 2013, Dominion commenced a restructuring of its producer services business, which aggregates natural gas supply, engages in natural gas trading and marketing activities and natural gas supply management and provides price risk management services to Dominion affiliates. The restructuring, which was completed in the first quarter of 2014, resulted in the termination of natural gas trading and certain energy marketing activities. As a result, the earnings impact from natural gas trading and certain energy marketing activities has been included in the Corporate and Other Segment of Dominion for 2014. In 2016, Dominion reported after-tax net expenses of $484 million in the Corporate and Other segment, with $180 million of these net expenses attributable to specific items related to its operating segments. The net expenses for specific items in 2016 primarily related to the impact of the following items:
• | A $197 million ($122 million after-tax) charge related to future ash pond and landfill closure costs at certain utility generation facilities, attributable to Dominion Generation; and
• | A $59 million ($36 million after-tax) charge related to an organizational design initiative, attributable to:
• | DVP ($5 million after-tax);
• | Dominion Energy ($12 million after-tax); and
• | Dominion Generation ($19 million after-tax).
In 2015, Dominion reported after-tax net expenses of $391 million in the Corporate and Other segment, with $136 million of these net expenses attributable to specific items related to its operating segments. The net expenses for specific items in 2015 primarily related to the impact of the following items:
• | A $99 million ($60 million after-tax) charge related to future ash pond and landfill closure costs at certain utility generation facilities, attributable to Dominion Generation; and
• | An $85 million ($52 million after-tax) write-off of deferred fuel costs associated with Virginia legislation enacted in February 2015, attributable to Dominion Generation.
In 2014, Dominion reported after-tax net expenses of $970 million in the Corporate and Other segment, with $544 million of these net expenses attributable to specific items related to its operating segments. The net expenses for specific items in 2014 primarily related to the impact of the following items:
• | $374 million ($248 million after-tax) in charges associated with Virginia legislation enacted in April 2014 relating to the development of a third nuclear unit located at North Anna and offshore wind facilities, attributable to Dominion Generation;
• | A $319 million ($193 million after-tax) net loss related to the producer services business discussed above, attributable to Dominion Energy; and
• | A $121 million ($74 million after-tax) charge related to a settlement offer to incur future ash pond closure costs at certain utility generation facilities, attributable to Dominion Generation.
The following table presents segment information pertaining to Dominion's operations:
Year Ended December 31, | DVP |  | Dominion Generation |  | Dominion Energy |  | Corporate and Other |  | Adjustments & Eliminations |  | Consolidated Total |
(millions) |  |  |  |  |  |
2016 |  |  |  |  |  |
Total revenue from external customers | $ | 2,210 |  | $ | 6,747 |  | $ | 2,069 |  | $ | (7 | ) | $ | 718 |  | $ | 11,737 |
Intersegment revenue | 23 |  | 10 |  | 697 |  | 609 |  | (1,339 | ) | — |
Total operating revenue | 2,233 |  | 6,757 |  | 2,766 |  | 602 |  | (621 | ) | 11,737 |
Depreciation, depletion and amortization | 537 |  | 662 |  | 330 |  | 30 |  | — |  | 1,559 |
Equity in earnings of equity method investees | — |  | (16 | ) | 105 |  | 22 |  | — |  | 111 |
Interest income | — |  | 74 |  | 34 |  | 36 |  | (78 | ) | 66 |
Interest and related charges | 244 |  | 290 |  | 38 |  | 516 |  | (78 | ) | 1,010 |
Income taxes | 308 |  | 279 |  | 431 |  | (363 | ) | — |  | 655 |
Net income (loss) attributable to Dominion | 484 |  | 1,397 |  | 726 |  | (484 | ) | — |  | 2,123 |
Investment in equity method investees | — |  | 228 |  | 1,289 |  | 44 |  | — |  | 1,561 |
Capital expenditures | 1,320 |  | 2,440 |  | 2,322 |  | 43 |  | — |  | 6,125 |
Total assets (billions) | 15.6 |  | 27.1 |  | 26.0 |  | 10.2 |  | (7.3 | ) | 71.6 |
2015 |  |  |  |  |  |  |  |  |  |  |  |
Total revenue from external customers | $ | 2,091 |  | $ | 7,001 |  | $ | 1,877 |  | $ | (27 | ) | $ | 741 |  | $ | 11,683 |
Intersegment revenue | 20 |  | 15 |  | 695 |  | 554 |  | (1,284 | ) | — |
Total operating revenue | 2,111 |  | 7,016 |  | 2,572 |  | 527 |  | (543 | ) | 11,683 |
Depreciation, depletion and amortization | 498 |  | 591 |  | 262 |  | 44 |  | — |  | 1,395 |
Equity in earnings of equity method investees | — |  | (15 | ) | 60 |  | 11 |  | — |  | 56 |
Interest income | — |  | 64 |  | 25 |  | 13 |  | (44 | ) | 58 |
Interest and related charges | 230 |  | 262 |  | 27 |  | 429 |  | (44 | ) | 904 |
Income taxes | 307 |  | 465 |  | 423 |  | (290 | ) | — |  | 905 |
Net income (loss) attributable to Dominion | 490 |  | 1,120 |  | 680 |  | (391 | ) | — |  | 1,899 |
Investment in equity method investees | — |  | 245 |  | 1,042 |  | 33 |  | — |  | 1,320 |
Capital expenditures | 1,607 |  | 2,190 |  | 2,153 |  | 43 |  | — |  | 5,993 |
Total assets (billions) | 14.7 |  | 25.6 |  | 15.2 |  | 8.9 |  | (5.8 | ) | 58.6 |
2014 |  |  |  |  |  |  |  |  |  |  |  |
Total revenue from external customers | $ | 1,918 |  | $ | 7,135 |  | $ | 2,446 |  | $ | (12 | ) | $ | 949 |  | $ | 12,436 |
Intersegment revenue | 18 |  | 34 |  | 880 |  | 572 |  | (1,504 | ) | — |
Total operating revenue | 1,936 |  | 7,169 |  | 3,326 |  | 560 |  | (555 | ) | 12,436 |
Depreciation, depletion and amortization | 462 |  | 514 |  | 243 |  | 73 |  | — |  | 1,292 |
Equity in earnings of equity method investees | — |  | (18 | ) | 54 |  | 10 |  | — |  | 46 |
Interest income | — |  | 58 |  | 23 |  | 20 |  | (33 | ) | 68 |
Interest and related charges | 205 |  | 240 |  | 11 |  | 770 |  | (33 | ) | 1,193 |
Income taxes | 317 |  | 365 |  | 463 |  | (693 | ) | — |  | 452 |
Net income (loss) attributable to Dominion | 502 |  | 1,061 |  | 717 |  | (970 | ) | — |  | 1,310 |
Capital expenditures | 1,652 |  | 2,466 |  | 1,329 |  | 104 |  | — |  | 5,551 |
Intersegment sales and transfers for Dominion are based on contractual arrangements and may result in intersegment profit or loss that is eliminated in consolidation. Virginia Power The majority of Virginia Power's revenue is provided through tariff rates. Generally, such revenue is allocated for management reporting based on an unbundled rate methodology among Virginia Power's DVP and Dominion Generation segments. The Corporate and Other Segment of Virginia Power primarily includes specific items attributable to its operating segments that are not included in profit measures evaluated by executive management in assessing the segments' performance or in allocating resources. In 2016, Virginia Power reported after-tax net expenses of $173 million for specific items attributable to its operating segments in the Corporate and Other segment. The net expenses for specific items in 2016 primarily related to the impact of the following item:
• | A $197 million ($121 million after-tax) charge related to future ash pond and landfill closure costs at certain utility generation facilities, attributable to Dominion Generation.
In 2015, Virginia Power reported after-tax net expenses of $153 million for specific items attributable to its operating segments in the Corporate and Other segment. The net expenses for specific items in 2015 primarily related to the impact of the following items:
• | A $99 million ($60 million after-tax) charge related to future ash pond and landfill closure costs at certain utility generation facilities, attributable to Dominion Generation; and
• | An $85 million ($52 million after-tax) write-off of deferred fuel costs associated with Virginia legislation enacted in February 2015, attributable to Dominion Generation.
In 2014, Virginia Power reported after-tax net expenses of $342 million for specific items attributable to its operating segments in the Corporate and Other segment. The net expenses for specific items in 2014 primarily related to the impact of the following items:
• | $374 million ($248 million after-tax) in charges associated with Virginia legislation enacted in April 2014 relating to the development of a third nuclear unit located at North Anna and offshore wind facilities, attributable to Dominion Generation; and
• | A $121 million ($74 million after-tax) charge related to a settlement offer to incur future ash pond closure costs at certain utility generation facilities, attributable to Dominion Generation.
The following table presents segment information pertaining to Virginia Power's operations:
Year Ended December 31, | DVP |  | Dominion Generation |  | Corporate and Other |  | Adjustments & Eliminations |  | Consolidated Total |
(millions) |  |  |  |  |
2016 |  |  |  |  |
Operating revenue | $ | 2,217 |  | $ | 5,390 |  | $ | (19 | ) | $ | — |  | $ | 7,588 |
Depreciation and amortization | 537 |  | 488 |  | — |  | — |  | 1,025 |
Interest income | — |  | — |  | — |  | — |  | — |
Interest and related charges | 244 |  | 219 |  | — |  | (2 | ) | 461 |
Income taxes | 307 |  | 524 |  | (104 | ) |  |  | 727 |
Net income (loss) | 482 |  | 909 |  | (173 | ) | — |  | 1,218 |
Capital expenditures | 1,313 |  | 1,336 |  | — |  | — |  | 2,649 |
Total assets (billions) | 15.6 |  | 17.8 |  | — |  | (0.1 | ) | 33.3 |
2015 |  |  |  |  |  |  |  |  |
Operating revenue | $ | 2,099 |  | $ | 5,566 |  | $ | (43 | ) | $ | — |  | $ | 7,622 |
Depreciation and amortization | 498 |  | 453 |  | 2 |  | — |  | 953 |
Interest income | — |  | 7 |  | — |  | — |  | 7 |
Interest and related charges | 230 |  | 210 |  | 4 |  | (1 | ) | 443 |
Income taxes | 308 |  | 437 |  | (86 | ) |  |  | 659 |
Net income (loss) | 490 |  | 750 |  | (153 | ) | — |  | 1,087 |
Capital expenditures | 1,569 |  | 1,120 |  | — |  | — |  | 2,689 |
Total assets (billions) | 14.7 |  | 17.0 |  | — |  | (0.1 | ) | 31.6 |
2014 |  |  |  |  |  |  |  |  |  |
Operating revenue | $ | 1,928 |  | $ | 5,651 |  | $ | — |  | $ | — |  | $ | 7,579 |
Depreciation and amortization | 462 |  | 416 |  | 37 |  | — |  | 915 |
Interest income | — |  | 8 |  | — |  | — |  | 8 |
Interest and related charges | 205 |  | 203 |  | 3 |  | — |  | 411 |
Income taxes | 317 |  | 416 |  | (185 | ) | — |  | 548 |
Net income (loss) | 509 |  | 691 |  | (342 | ) | — |  | 858 |
Capital expenditures | 1,651 |  | 1,456 |  | — |  | — |  | 3,107 |
Dominion Gas The Corporate and Other Segment of Dominion Gas primarily includes specific items attributable to Dominion Gas' operating segment that are not included in profit measures evaluated by executive management in assessing the segment's performance or in allocating resources and the effect of certain items recorded at Dominion Gas as a result of Dominion's basis in the net assets contributed. In 2016, Dominion Gas reported after-tax net expenses of $3 million in its Corporate and Other segment, with $7 million of these net expenses attributable to its operating segment. The net expense for specific items in 2016 primarily related to the impact of the following item:
• | An $8 million ($5 million after-tax) charge related to an organizational design initiative.
In 2015, Dominion Gas reported after-tax net expenses of $21 million in its Corporate and Other segment, with $13 million of these net expenses attributable to specific items related to its operating segment. The net expenses for specific items in 2015 primarily related to the impact of the following item:
• | $16 million ($10 million after-tax) ceiling test impairment charge.
In 2014, Dominion Gas reported after-tax net expenses of $9 million in its Corporate and Other segment, with none of these net expenses attributable to specific items related to its operating segment. The following table presents segment information pertaining to Dominion Gas' operations:
Year Ended December 31, | Dominion Energy |  | Corporate and Other |  | Consolidated Total |
(millions) |  |  |
2016 |  |  |
Operating revenue | $ | 1,638 |  | $ | — |  | $ | 1,638 |
Depreciation and amortization | 214 |  | (10 | ) | 204 |
Equity in earnings of equity method investees | 21 |  | — |  | 21 |
Interest income | 1 |  | — |  | 1 |
Interest and related charges | 92 |  | 2 |  | 94 |
Income taxes | 237 |  | (22 | ) | 215 |
Net income (loss) | 395 |  | (3 | ) | 392 |
Investment in equity method investees | 98 |  | — |  | 98 |
Capital expenditures | 854 |  | — |  | 854 |
Total assets (billions) | 10.5 |  | 0.6 |  | 11.1 |
2015 |  |  |  |  |
Operating revenue | $ | 1,716 |  | $ | — |  | $ | 1,716 |
Depreciation and amortization | 213 |  | 4 |  | 217 |
Equity in earnings of equity method investees | 23 |  | — |  | 23 |
Interest income | 1 |  | — |  | 1 |
Interest and related charges | 72 |  | 1 |  | 73 |
Income taxes | 296 |  | (13 | ) | 283 |
Net income (loss) | 478 |  | (21 | ) | 457 |
Investment in equity method investees | 102 |  | — |  | 102 |
Capital expenditures | 795 |  | — |  | 795 |
Total assets (billions) | 9.7 |  | 0.6 |  | 10.3 |
2014 |  |  |  |  |  |
Operating revenue | $ | 1,898 |  | $ | — |  | $ | 1,898 |
Depreciation and amortization | 197 |  | — |  | 197 |
Equity in earnings of equity method investees | 21 |  | — |  | 21 |
Interest income | 1 |  | — |  | 1 |
Interest and related charges | 27 |  | — |  | 27 |
Income taxes | 340 |  | (6 | ) | 334 |
Net income (loss) | 521 |  | (9 | ) | 512 |
Capital expenditures | 719 |  | — |  | 719 |

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingInformationRevenueAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration