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Investments | 3 Months Ended
--- | ---
Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments Dominion Equity and Debt Securities Rabbi Trust Securities Marketable equity and debt securities and cash equivalents held in Dominion’s rabbi trusts and classified as trading totaled $108 million and $104 million at March 31, 2017 and December 31, 2016, respectively. Decommissioning Trust Securities Dominion holds marketable equity and debt securities (classified as available-for-sale), cash equivalents and cost method investments in nuclear decommissioning trust funds to fund future decommissioning costs for its nuclear plants. Dominion’s decommissioning trust funds are summarized below:
| Amortized Cost | Total Unrealized Gains(1) | Total Unrealized Losses(1) |  | Fair Value
(millions) |  |  |  |  |
At March 31, 2017 |  |  |  |  |
Marketable equity securities: |  |  |  |  |
U.S. | $ | 1,543 |  | $ | 1,478 |  | $ | — |  |  | $ | 3,021 |
Fixed income: |  |  |  |  |
Corporate debt instruments | 488 |  | 13 |  | (3 | ) |  | 498 |
Government securities | 977 |  | 24 |  | (6 | ) |  | 995 |
Common/collective trust funds | 66 |  | — |  | — |  |  | 66 |
Cost method investments | 69 |  | — |  | — |  |  | 69 |
Cash equivalents and other(2) | 6 |  | — |  | — |  |  | 6 |
Total | $ | 3,149 |  | $ | 1,515 |  | $ | (9 | ) | (3) | $ | 4,655 |
At December 31, 2016 |  |  |  |  |
Marketable equity securities: |  |  |  |  |
U.S. | $ | 1,449 |  | $ | 1,408 |  | $ | — |  |  | $ | 2,857 |
Fixed income: |  |  |  |  |
Corporate debt instruments | 478 |  | 13 |  | (4 | ) |  | 487 |
Government securities | 978 |  | 22 |  | (8 | ) |  | 992 |
Common/collective trust funds | 67 |  | — |  | — |  |  | 67 |
Cost method investments | 69 |  | — |  | — |  |  | 69 |
Cash equivalents and other(2) | 12 |  | — |  | — |  |  | 12 |
Total | $ | 3,053 |  | $ | 1,443 |  | $ | (12 | ) | (3) | $ | 4,484 |
(1) | Included in AOCI and the nuclear decommissioning trust regulatory liability.
(2) | Includes net pending sales of securities of $2 million and $9 million at March 31, 2017 and December 31, 2016, respectively.
(3) | The fair value of securities in an unrealized loss position was $461 million and $576 million at March 31, 2017 and December 31, 2016, respectively.
The fair value of Dominion’s marketable debt securities held in nuclear decommissioning trust funds at March 31, 2017 by contractual maturity is as follows:
| Amount
(millions) |
Due in one year or less | $ | 164 |
Due after one year through five years | 434 |
Due after five years through ten years | 385 |
Due after ten years | 576 |
Total | $ | 1,559 |
Presented below is selected information regarding Dominion’s marketable equity and debt securities held in nuclear decommissioning trust funds.
| Three Months Ended March 31,
| 2017 | 2016
(millions) |  |
Proceeds from sales | $ | 756 |  | $ | 368 |
Realized gains(1) | 94 |  | 25 |
Realized losses(1) | 20 |  | 19 |
(1) | Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.
Other-than-temporary impairment losses on investments held in nuclear decommissioning trust funds for Dominion were not material for the three months ended March 31, 2017 and 2016. Virginia Power Virginia Power holds marketable equity and debt securities (classified as available-for-sale), cash equivalents and cost method investments in nuclear decommissioning trust funds to fund future decommissioning costs for its nuclear plants. Virginia Power’s decommissioning trust funds are summarized below:
| Amortized Cost | Total Unrealized Gains(1) | Total Unrealized Losses(1) |  | Fair Value
(millions) |  |  |  |  |
At March 31, 2017 |  |  |  |  |
Marketable equity securities: |  |  |  |  |
U.S. | $ | 720 |  | $ | 654 |  | $ | — |  |  | $ | 1,374 |
Fixed income: |  |  |  |  |
Corporate debt instruments | 278 |  | 6 |  | (2 | ) |  | 282 |
Government securities | 418 |  | 11 |  | (2 | ) |  | 427 |
Common/collective trust funds | 30 |  | — |  | — |  |  | 30 |
Cost method investments | 69 |  | — |  | — |  |  | 69 |
Cash equivalents and other(2) | 4 |  | — |  | — |  |  | 4 |
Total | $ | 1,519 |  | $ | 671 |  | $ | (4 | ) | (3) | $ | 2,186 |
At December 31, 2016 |  |  |  |  |
Marketable equity securities: |  |  |  |  |
U.S. | $ | 677 |  | $ | 624 |  | $ | — |  |  | $ | 1,301 |
Fixed income: |  |  |  |  |
Corporate debt instruments | 274 |  | 6 |  | (4 | ) |  | 276 |
Government securities | 420 |  | 9 |  | (2 | ) |  | 427 |
Common/collective trust funds | 26 |  | — |  | — |  |  | 26 |
Cost method investments | 69 |  | — |  | — |  |  | 69 |
Cash equivalents and other(2) | 7 |  | — |  | — |  |  | 7 |
Total | $ | 1,473 |  | $ | 639 |  | $ | (6 | ) | (3) | $ | 2,106 |
(1) | Included in AOCI and the nuclear decommissioning trust regulatory liability.
(2) | Includes pending sales of securities of $4 million and $7 million at March 31, 2017 and December 31, 2016, respectively.
(3) | The fair value of securities in an unrealized loss position was $214 million and $287 million at March 31, 2017 and December 31, 2016, respectively.
The fair value of Virginia Power’s marketable debt securities held in nuclear decommissioning trust funds at March 31, 2017 by contractual maturity is as follows:
| Amount
(millions) |
Due in one year or less | $ | 60 |
Due after one year through five years | 188 |
Due after five years through ten years | 205 |
Due after ten years | 286 |
Total | $ | 739 |
Presented below is selected information regarding Virginia Power’s marketable equity and debt securities held in nuclear decommissioning trust funds.
| Three Months Ended March 31,
| 2017 | 2016
(millions) |  |
Proceeds from sales | $ | 330 |  | $ | 193 |
Realized gains(1) | 45 |  | 12 |
Realized losses(1) | 10 |  | 10 |
(1) | Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.
Other-than-temporary impairment losses on investments held in nuclear decommissioning trust funds for Virginia Power were not material for the three months ended March 31, 2017 and 2016. Equity Method Investments Dominion Atlantic Coast Pipeline In the first quarter of 2017, Dominion contributed $117 million to Atlantic Coast Pipeline. Dominion Gas Iroquois Dominion Gas' equity earnings totaled $7 million and $6 million for the three months ended March 31, 2017 and 2016, respectively. Dominion Gas received distributions from this investment of $6 million for both the three months ended March 31, 2017 and 2016. At March 31, 2017 and December 31, 2016, the carrying amount of Dominion Gas' investment of $99 million and $98 million, respectively, exceeded its share of underlying equity in net assets by $8 million. The difference reflects equity method goodwill and is not being amortized.

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