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Related-Party Transactions | 3 Months Ended
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Mar. 31, 2017
Related Party Transactions [Abstract] |
Related-Party Transactions | Related-Party Transactions Virginia Power and Dominion Gas engage in related-party transactions primarily with other Dominion subsidiaries (affiliates). Virginia Power's and Dominion Gas' receivable and payable balances with affiliates are settled based on contractual terms or on a monthly basis, depending on the nature of the underlying transactions. Virginia Power and Dominion Gas are included in Dominion's consolidated federal income tax return and, where applicable, combined income tax returns for Dominion are filed in various states. Dominion's transactions with equity method investments are described in Note 10. A discussion of significant related-party transactions follows. Virginia Power Transactions with Affiliates Virginia Power transacts with affiliates for certain quantities of natural gas and other commodities in the ordinary course of business. Virginia Power also enters into certain commodity derivative contracts with affiliates. Virginia Power uses these contracts, which are principally comprised of commodity swaps, to manage commodity price risks associated with purchases of natural gas. As of March 31, 2017, Virginia Power’s derivative assets and liabilities with affiliates were $27 million and $3 million, respectively. As of December 31, 2016, Virginia Power’s derivative assets and liabilities with affiliates were $41 million and $8 million, respectively. See Note 9 for more information. Virginia Power participates in certain Dominion benefit plans described in Note 18. At March 31, 2017 and December 31, 2016, amounts due to Dominion associated with the Dominion Pension Plan and included in other deferred credits and other liabilities in the Consolidated Balance Sheets were $423 million and $396 million, respectively. At March 31, 2017 and December 31, 2016, Virginia Power's amounts due from Dominion associated with the Dominion Retiree Health and Welfare plan and included in other deferred charges and other assets in the Consolidated Balance Sheets were $149 million and $130 million, respectively. DRS and other affiliates provide accounting, legal, finance and certain administrative and technical services to Virginia Power. In addition, Virginia Power provides certain services to affiliates, including charges for facilities and equipment usage. The financial statements for all years presented include costs for certain general, administrative and corporate expenses assigned by DRS to Virginia Power on the basis of direct and allocated methods in accordance with Virginia Power’s services agreements with DRS. Where costs incurred cannot be determined by specific identification, the costs are allocated based on the proportional level of effort devoted by DRS resources that is attributable to the entity, determined by reference to number of employees, salaries and wages and other similar measures for the relevant DRS service. Management believes the assumptions and methodologies underlying the allocation of general corporate overhead expenses are reasonable. Presented below are Virginia Power's significant transactions with DRS and other affiliates:
| Three Months Ended March 31,
| 2017 | 2016
(millions) |  |
Commodity purchases from affiliates | $ | 212 |  | $ | 145 |
Services provided by affiliates(1) | 112 |  | 140 |
Services provided to affiliates | 5 |  | 5 |
(1) | Includes capitalized expenditures of $34 million and $39 million for the three months ended March 31, 2017 and 2016, respectively.
Virginia Power has borrowed funds from Dominion under short-term borrowing arrangements. Virginia Power had no short-term demand note borrowings from Dominion as of March 31, 2017. There were $262 million in short-term demand note borrowings from Dominion as of December 31, 2016. Virginia Power had no outstanding borrowings under the Dominion money pool for its nonregulated subsidiaries as of March 31, 2017 and December 31, 2016. Interest charges related to Virginia Power's borrowings from Dominion were immaterial for the three months ended March 31, 2017 and 2016. There were no issuances of Virginia Power's common stock to Dominion for the three months ended March 31, 2017 and 2016. Dominion Gas Transactions with Related Parties Dominion Gas transacts with affiliates for certain quantities of natural gas and other commodities at market prices in the ordinary course of business. Additionally, Dominion Gas provides transportation and storage services to affiliates. Dominion Gas also enters into certain other contracts with affiliates, which are presented separately from contracts involving commodities or services. As of March 31, 2017 and December 31, 2016, all of Dominion Gas' commodity derivatives were with affiliates. See Notes 7 and 9 for more information. Dominion Gas participates in certain Dominion benefit plans as described in Note 18. At March 31, 2017 and December 31, 2016, amounts due from Dominion associated with the Dominion Pension Plan included in noncurrent pension and other postretirement benefit assets in the Consolidated Balance Sheets were $706 million and $697 million, respectively. At March 31, 2017 and December 31, 2016, Dominion Gas' amounts due from Dominion associated with the Dominion Retiree Health and Welfare plan included in noncurrent pension and other postretirement benefit assets in the Consolidated Balance Sheets were $3 million and $2 million, respectively. The financial statements for all years presented include costs for certain general, administrative and corporate expenses assigned by DRS to Dominion Gas on the basis of direct and allocated methods in accordance with Dominion Gas’ services agreements with DRS. Where costs incurred cannot be determined by specific identification, the costs are allocated based on the proportional level of effort devoted by DRS resources that is attributable to the entity, determined by reference to number of employees, salaries and wages and other similar measures for the relevant DRS service. Management believes the assumptions and methodologies underlying the allocation of general corporate overhead expenses are reasonable. The costs of these services follow:
| Three Months Ended March 31,
| 2017 | 2016
(millions) |  |
Purchases of natural gas and transportation and storage services from affiliates | $ | — |  | $ | 3 |
Sales of natural gas and transportation and storage services to affiliates | 18 |  | 17 |
Services provided by related parties(1) | 35 |  | 39 |
Services provided to related parties (2) | 39 |  | 27 |
(1) | Includes capitalized expenditures of $8 million and $12 million for the three months ended March 31, 2017 and 2016, respectively.
(2) | Amounts primarily attributable to Atlantic Coast Pipeline.
The following table presents affiliated and related-party activity reflected in Dominion Gas' Consolidated Balance Sheets:
| March 31, 2017 | December 31, 2016
(millions) |  |
Other receivables(1) | $ | 11 |  | $ | 10 |
Imbalances receivable from affiliates(2) | 2 |  | 2 |
Imbalances payable to affiliates(3) | — |  | 4 |
Affiliated notes receivable(4) | 19 |  | 18 |
(1) Represents amounts due from Atlantic Coast Pipeline, a related-party VIE. (2) Amounts are presented in other current assets in Dominion Gas' Consolidated Balance Sheets. (3) Amounts are presented in other current liabilities in Dominion Gas' Consolidated Balance Sheets. (4) Amounts are presented in other deferred charges and other assets in Dominion Gas' Consolidated Balance Sheets. Dominion Gas' borrowings under the intercompany revolving credit agreement with Dominion were $174 million and $118 million as of March 31, 2017 and December 31, 2016, respectively. Interest charges related to Dominion Gas' total borrowings from Dominion were immaterial for the three months ended March 31, 2017 and 2016.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph b -Article 3A + Details
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