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Investments | 6 Months Ended
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Jun. 30, 2017
Investments Debt And Equity Securities [Abstract] |
Investments | Note 10. Investments Dominion Energy Equity and Debt Securities Rabbi Trust Securities Marketable equity and debt securities and cash equivalents held in Dominion Energy’s rabbi trusts and classified as trading totaled $111 million and $104 million at June 30, 2017 and December 31, 2016, respectively. Decommissioning Trust Securities Dominion Energy 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 Energy’s decommissioning trust funds are summarized below:
|  | Amortized Cost |  |  | Total Unrealized Gains(1) |  |  | Total Unrealized Losses(1) |  |  |  | Fair Value |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Marketable equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 1,548 |  |  | $ | 1,548 |  |  | $ | — |  |  |  | $ | 3,096 |
Fixed income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 465 |  |  |  | 17 |  |  |  | (1 | ) |  |  |  | 481 |
Government securities |  |  | 1,007 |  |  |  | 28 |  |  |  | (4 | ) |  |  |  | 1,031 |
Common/collective trust funds |  |  | 46 |  |  |  | — |  |  |  | — |  |  |  |  | 46 |
Cost method investments |  |  | 71 |  |  |  | — |  |  |  | — |  |  |  |  | 71 |
Cash equivalents and other(2) |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  |  | 10 |
Total |  | $ | 3,147 |  |  | $ | 1,593 |  |  | $ | (5 | ) | (3) |  | $ | 4,735 |
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 $7 million and $9 million at June 30, 2017 and December 31, 2016, respectively.
(3) | The fair value of securities in an unrealized loss position was $457 million and $576 million at June 30, 2017 and December 31, 2016, respectively.
The fair value of Dominion Energy’s marketable debt securities held in nuclear decommissioning trust funds at June 30, 2017 by contractual maturity is as follows:
|  | Amount |
(millions) |  |  |  |
Due in one year or less |  | $ | 149 |
Due after one year through five years |  |  | 448 |
Due after five years through ten years |  |  | 362 |
Due after ten years |  |  | 599 |
Total |  | $ | 1,558 |
Presented below is selected information regarding Dominion Energy’s marketable equity and debt securities held in nuclear decommissioning trust funds.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sales |  | $ | 363 |  |  | $ | 341 |  |  | $ | 1,119 |  |  | $ | 709 |
Realized gains(1) |  |  | 23 |  |  |  | 37 |  |  |  | 117 |  |  |  | 62 |
Realized losses(1) |  |  | 16 |  |  |  | 15 |  |  |  | 36 |  |  |  | 34 |
(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 Energy were not material for the three and six months ended June 30, 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) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Marketable equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 724 |  |  | $ | 688 |  |  | $ | — |  |  |  | $ | 1,412 |
Fixed income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 252 |  |  |  | 8 |  |  |  | (1 | ) |  |  |  | 259 |
Government securities |  |  | 447 |  |  |  | 14 |  |  |  | (2 | ) |  |  |  | 459 |
Common/collective trust funds |  |  | 16 |  |  |  | — |  |  |  | — |  |  |  |  | 16 |
Cost method investments |  |  | 70 |  |  |  | — |  |  |  | — |  |  |  |  | 70 |
Cash equivalents and other(2) |  |  | 7 |  |  |  | — |  |  |  | — |  |  |  |  | 7 |
Total |  | $ | 1,516 |  |  | $ | 710 |  |  | $ | (3 | ) | (3) |  | $ | 2,223 |
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 $7 million at both June 30, 2017 and December 31, 2016.
(3) | The fair value of securities in an unrealized loss position was $219 million and $287 million at June 30, 2017 and December 31, 2016, respectively.
The fair value of Virginia Power’s marketable debt securities held in nuclear decommissioning trust funds at June 30, 2017 by contractual maturity is as follows:
|  | Amount |
(millions) |  |  |  |
Due in one year or less |  | $ | 48 |
Due after one year through five years |  |  | 209 |
Due after five years through ten years |  |  | 182 |
Due after ten years |  |  | 295 |
Total |  | $ | 734 |
Presented below is selected information regarding Virginia Power’s marketable equity and debt securities held in nuclear decommissioning trust funds.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sales |  | $ | 168 |  |  | $ | 154 |  |  | $ | 498 |  |  | $ | 347 |
Realized gains(1) |  |  | 10 |  |  |  | 18 |  |  |  | 55 |  |  |  | 30 |
Realized losses(1) |  |  | 8 |  |  |  | 7 |  |  |  | 18 |  |  |  | 17 |
(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 and six months ended June 30, 2017 and 2016. Equity Method Investments Dominion Energy Atlantic Coast Pipeline Dominion Energy contributed $85 million and $202 million, respectively, during the three and six months ended June 30, 2017 to Atlantic Coast Pipeline. Dominion Energy Gas Iroquois Dominion Energy Gas' equity earnings totaled $11 million and $9 million for the six months ended June 30, 2017 and 2016, respectively. Dominion Energy Gas received distributions from this investment of $11 million for both the six months ended June 30, 2017 and 2016. At both June 30, 2017 and December 31, 2016, the carrying amount of Dominion Energy Gas' investment of $98 million exceeded its share of underlying equity in net assets by $8 million. The difference reflects equity method goodwill and is not being amortized. In May 2016, Dominion Energy Gas sold 0.65% of the non-controlling partnership interest in Iroquois to TransCanada Corporation for approximately $7 million, which resulted in a $5 million ($3 million after-tax) gain.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
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