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Leases (Tables) | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Lease Assets and Liabilities Recorded in Consolidated Balance Sheets | At September 30, 2019, the Companies had the following lease assets and liabilities recorded in the Consolidated Balance Sheets:
|  | September 30, 2019 |
(millions) |  |  |  |
Dominion Energy |  |  |  |
Lease assets: |  |  |  |
Operating lease assets |  | $ | 455 |
Finance lease assets(1) |  |  | 159 |
Total lease assets |  | $ | 614 |
Lease liabilities: |  |  |  |
Operating lease liabilities(2) |  | $ | 58 |
Finance lease liabilities(3) |  |  | 30 |
Total lease liabilities - current |  |  | 88 |
Operating lease liabilities |  |  | 394 |
Finance lease liabilities(4) |  |  | 132 |
Total lease liabilities - noncurrent |  |  | 526 |
Total lease liabilities |  | $ | 614 |
Virginia Power |  |  |  |
Operating lease assets |  | $ | 184 |
Finance lease assets(1) |  |  | 15 |
Total lease assets |  | $ | 199 |
Lease liabilities: |  |  |  |
Operating lease liabilities(2) |  | $ | 30 |
Finance lease liabilities(3) |  |  | 3 |
Total lease liabilities - current |  |  | 33 |
Operating lease liabilities |  |  | 152 |
Finance lease liabilities(4) |  |  | 11 |
Total lease liabilities - noncurrent |  |  | 163 |
Total lease liabilities |  | $ | 196 |
Dominion Energy Gas |  |  |  |
Operating lease assets |  | $ | 56 |
Finance lease assets(1) |  |  | 10 |
Total lease assets |  | $ | 66 |
Lease liabilities: |  |  |  |
Operating lease liabilities(2) |  | $ | 12 |
Finance lease liabilities(3) |  |  | 2 |
Total lease liabilities - current |  |  | 14 |
Operating lease liabilities |  |  | 44 |
Finance lease liabilities(4) |  |  | 8 |
Total lease liabilities - noncurrent |  |  | 52 |
Total lease liabilities |  | $ | 66 |
(1) | Included in property, plant and equipment in the Companies’ Consolidated Balance Sheets, net of $39 million, $3 million and $2 million of accumulated amortization at Dominion Energy, Virginia Power and Dominion Energy Gas, respectively, at September 30, 2019.
(2) | Included in other current liabilities in the Companies’ Consolidated Balance Sheets.
(3) | Included in securities due within one year in the Companies’ Consolidated Balance Sheets.
(4) | Included in long-term debt in the Companies’ Consolidated Balance Sheets.
Summary of Total Lease Cost | For the three and nine months ended September 30, 2019, total lease cost associated with the Companies’ lessee leasing arrangements consisted of the following:
|  | Three Months Ended September 30, 2019 |  |  | Nine Months Ended September 30, 2019 |
(millions) |  |  |  |  |  |  |  |
Dominion Energy |  |  |  |  |  |  |  |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization |  | $ | 7 |  |  | $ | 14 |
Interest |  |  | 1 |  |  |  | 3 |
Operating lease cost |  |  | 20 |  |  |  | 64 |
Short-term lease cost |  |  | 7 |  |  |  | 20 |
Variable lease cost |  |  | 1 |  |  |  | 4 |
Total lease cost |  | $ | 36 |  |  | $ | 105 |
Virginia Power |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 10 |  |  | $ | 31 |
Short-term lease cost |  |  | 3 |  |  |  | 7 |
Variable lease cost |  |  | 1 |  |  |  | 2 |
Total lease cost |  | $ | 14 |  |  | $ | 40 |
Dominion Energy Gas |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 3 |  |  | $ | 10 |
Short-term lease cost |  |  | 2 |  |  |  | 5 |
Total lease cost |  | $ | 5 |  |  | $ | 15 |
Cash Paid for Amounts Included in Measurement of Lease Liabilities | For the nine months ended September 30, 2019, cash paid for amounts included in the measurement of lease liabilities consisted of the following amounts, included in the Companies’ Consolidated Statements of Cash Flows:
|  | Nine Months Ended September 30, 2019 |
(millions) |  |  |  |
Dominion Energy |  |  |  |
Operating cash flows for finance leases |  | $ | 3 |
Operating cash flows for operating leases |  |  | 89 |
Financing cash flows for finance leases |  |  | 12 |
Virginia Power |  |  |  |
Operating cash flows for operating leases |  |  | 40 |
Dominion Energy Gas |  |  |  |
Operating cash flows for operating leases |  |  | 15 |
Weighted Average Remaining Lease Term and Weighted Discounted Rate for Finance and Operating Leases | At September 30, 2019, the weighted average remaining lease term and weighted discount rate for the Companies’ finance and operating leases were as follows:
|  | September 30, 2019
Dominion Energy |  |
Weighted average remaining lease term - finance leases |  | 6 years
Weighted average remaining lease term - operating leases |  | 21 years
Weighted average discount rate - finance leases |  | 4.36%
Weighted average discount rate - operating leases |  | 4.58%
Virginia Power |  |
Weighted average remaining lease term - finance leases |  | 6 years
Weighted average remaining lease term - operating leases |  | 17 years
Weighted average discount rate - finance leases |  | 4.65%
Weighted average discount rate - operating leases |  | 4.51%
Dominion Energy Gas |  |
Weighted average remaining lease term - finance leases |  | 6 years
Weighted average remaining lease term - operating leases |  | 9 years
Weighted average discount rate - finance leases |  | 4.55%
Weighted average discount rate - operating leases |  | 4.43%
Scheduled Maturities of Lease Liabilities | The Companies’ lease liabilities have the following scheduled maturities:
Maturity of Lease Liabilities |  | Dominion Energy |  |  | Virginia Power |  |  | Dominion Energy Gas |
(millions) |  | Operating |  |  | Finance |  |  | Operating |  |  | Finance |  |  | Operating |  |  | Finance |
2019 |  | $ | 18 |  |  | $ | 10 |  |  | $ | 8 |  |  | $ | 1 |  |  | $ | 5 |  |  | $ | 1 |
2020 |  |  | 68 |  |  |  | 39 |  |  |  | 33 |  |  |  | 3 |  |  |  | 13 |  |  |  | 2 |
2021 |  |  | 61 |  |  |  | 33 |  |  |  | 29 |  |  |  | 3 |  |  |  | 11 |  |  |  | 2 |
2022 |  |  | 50 |  |  |  | 31 |  |  |  | 23 |  |  |  | 3 |  |  |  | 9 |  |  |  | 2 |
2023 |  |  | 40 |  |  |  | 28 |  |  |  | 18 |  |  |  | 2 |  |  |  | 6 |  |  |  | 2 |
After 2023 |  |  | 538 |  |  |  | 49 |  |  |  | 160 |  |  |  | 4 |  |  |  | 25 |  |  |  | 3 |
Total undiscounted lease payments |  |  | 775 |  |  |  | 190 |  |  |  | 271 |  |  |  | 16 |  |  |  | 69 |  |  |  | 12 |
Present value adjustment |  |  | (323 | ) |  |  | (28 | ) |  |  | (89 | ) |  |  | (2 | ) |  |  | (13 | ) |  |  | (2 | )
Present value of lease liabilities |  | $ | 452 |  |  | $ | 162 |  |  | $ | 182 |  |  | $ | 14 |  |  | $ | 56 |  |  | $ | 10 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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