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Investments (Tables) | 9 Months Ended
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Sep. 30, 2019
Equity and Fixed Income Securities, Insurance Contracts and Cash Equivalents in Decommissioning Trust Funds | Dominion Energy’s decommissioning trust funds are summarized below:
|  | Amortized Cost |  |  | Total Unrealized Gains |  |  | Total Unrealized Losses |  |  |  | Fair Value |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 1,787 |  |  | $ | 2,169 |  |  | $ | (30 | ) |  |  | $ | 3,926 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 442 |  |  |  | 30 |  |  |  | — |  |  |  |  | 472 |
Government securities |  |  | 1,082 |  |  |  | 44 |  |  |  | (4 | ) |  |  |  | 1,122 |
Common/collective trust funds |  |  | 105 |  |  |  | 4 |  |  |  | — |  |  |  |  | 109 |
Insurance contracts |  |  | 210 |  |  |  | — |  |  |  | — |  |  |  |  | 210 |
Cash equivalents and other(3) |  |  | 21 |  |  |  | — |  |  |  | — |  |  |  |  | 21 |
Total |  | $ | 3,647 |  |  | $ | 2,247 |  |  | $ | (34 | ) | (4) |  | $ | 5,860 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 1,741 |  |  | $ | 1,640 |  |  | $ | (51 | ) |  |  | $ | 3,330 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 435 |  |  |  | 5 |  |  |  | (9 | ) |  |  |  | 431 |
Government securities |  |  | 1,092 |  |  |  | 17 |  |  |  | (12 | ) |  |  |  | 1,097 |
Common/collective trust funds |  |  | 76 |  |  |  | — |  |  |  | — |  |  |  |  | 76 |
Cash equivalents and other |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  |  | 4 |
Total |  | $ | 3,348 |  |  | $ | 1,662 |  |  | $ | (72 | ) | (4) |  | $ | 4,938 |
(1) | Unrealized gains and losses on equity securities are included in other income and the nuclear decommissioning trust regulatory liability.
(2) | Unrealized gains and losses on fixed income securities are included in AOCI and the nuclear decommissioning trust regulatory liability.
(3) | Includes pending sales of securities of $3 million at September 30, 2019.
(4) | The fair value of securities in an unrealized loss position was $277 million and $833 million at September 30, 2019 and December 31, 2018, respectively.
Unrealized Gain Loss on Equity | The portion of unrealized gains and losses that relates to equity securities held within Dominion Energy’s nuclear decommissioning trusts is summarized below:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net gains recognized during the period |  | $ | 40 |  |  | $ | 243 |  |  | $ | 610 |  |  | $ | 267 |
Less: Net gains recognized during the period on securities sold during the period |  |  | (17 | ) |  |  | (7 | ) |  |  | (61 | ) |  |  | (42 | )
Unrealized gains recognized during the period on securities still held at September 30, 2019 and 2018(1) |  | $ | 23 |  |  | $ | 236 |  |  | $ | 549 |  |  | $ | 225 |
(1) | Included in other income and the nuclear decommissioning trust regulatory liability.
Investments Classified by Contractual Maturity Date | The fair value of Dominion Energy’s fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds at September 30, 2019 by contractual maturity is as follows:
|  | Amount |
(millions) |  |  |  |
Due in one year or less |  | $ | 212 |
Due after one year through five years |  |  | 412 |
Due after five years through ten years |  |  | 360 |
Due after ten years |  |  | 719 |
Total |  | $ | 1,703 |
Marketable Securities | Presented below is selected information regarding Dominion Energy’s equity and fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sales |  | $ | 429 |  |  | $ | 457 |  |  | $ | 1,311 |  |  | $ | 1,301 |
Realized gains(1) |  |  | 53 |  |  |  | 24 |  |  |  | 152 |  |  |  | 96 |
Realized losses(1) |  |  | 25 |  |  |  | 18 |  |  |  | 75 |  |  |  | 60 |
(1) | Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.
Other-Than-Temporary Impairment Losses | Dominion Energy recorded other-than-temporary impairment losses on investments held in nuclear decommissioning trust funds as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total other-than-temporary impairment losses |  | $ | 1 |  |  | $ | 8 |  |  | $ | 1 |  |  | $ | 25 |
Losses recognized in other comprehensive income (before taxes) |  |  | (1 | ) |  |  | (8 | ) |  |  | (1 | ) |  |  | (25 | )
Net impairment losses recognized in earnings |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Virginia Electric and Power Company |
Equity and Fixed Income Securities, Insurance Contracts and Cash Equivalents in Decommissioning Trust Funds | Virginia Power’s decommissioning trust funds are summarized below:
|  | Amortized Cost |  |  | Total Unrealized Gains |  |  | Total Unrealized Losses |  |  |  | Fair Value |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 890 |  |  | $ | 1,013 |  |  | $ | (15 | ) |  |  | $ | 1,888 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 257 |  |  |  | 16 |  |  |  | — |  |  |  |  | 273 |
Government securities |  |  | 504 |  |  |  | 17 |  |  |  | (1 | ) |  |  |  | 520 |
Common/collective trust funds |  |  | 46 |  |  |  | — |  |  |  | — |  |  |  |  | 46 |
Cash equivalents and other(3) |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  |  | 11 |
Total |  | $ | 1,708 |  |  | $ | 1,046 |  |  | $ | (16 | ) | (4) |  | $ | 2,738 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 858 |  |  | $ | 751 |  |  | $ | (24 | ) |  |  | $ | 1,585 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 224 |  |  |  | 2 |  |  |  | (5 | ) |  |  |  | 221 |
Government securities |  |  | 504 |  |  |  | 7 |  |  |  | (5 | ) |  |  |  | 506 |
Common/collective trust funds |  |  | 51 |  |  |  | — |  |  |  | — |  |  |  |  | 51 |
Cash equivalents and other(3) |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  |  | 6 |
Total |  | $ | 1,643 |  |  | $ | 760 |  |  | $ | (34 | ) | (4) |  | $ | 2,369 |
(1) | Unrealized gains and losses on equity securities are included in other income and the nuclear decommissioning trust regulatory liability.
(2) | Unrealized gains and losses on fixed income securities are included in AOCI and the nuclear decommissioning trust regulatory liability.
(3) | Includes pending sales of securities of $5 million and $6 million at September 30, 2019 and December 31, 2018, respectively.
(4) | The fair value of securities in an unrealized loss position was $164 million and $404 million at September 30, 2019 and December 31, 2018, respectively.
Unrealized Gain Loss on Equity | The portion of unrealized gains and losses that relates to equity securities held within Virginia Power’s nuclear decommissioning trusts is summarized below:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net gains recognized during the period |  | $ | 30 |  |  | $ | 106 |  |  | $ | 286 |  |  | $ | 118 |
Less: Net gains recognized during the period on securities sold during the period |  |  | (7 | ) |  |  | (3 | ) |  |  | (15 | ) |  |  | (26 | )
Unrealized gains recognized during the period on securities still held at September 30, 2019 and 2018(1) |  | $ | 23 |  |  | $ | 103 |  |  | $ | 271 |  |  | $ | 92 |
(1) | Included in other income and the nuclear decommissioning trust regulatory liability.
Investments Classified by Contractual Maturity Date | The fair value of Virginia Power’s fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds at September 30, 2019 by contractual maturity is as follows:
|  | Amount |
(millions) |  |  |  |
Due in one year or less |  | $ | 99 |
Due after one year through five years |  |  | 183 |
Due after five years through ten years |  |  | 180 |
Due after ten years |  |  | 377 |
Total |  | $ | 839 |
Marketable Securities | Presented below is selected information regarding Virginia Power’s equity and fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sales |  | $ | 230 |  |  | $ | 237 |  |  | $ | 677 |  |  | $ | 651 |
Realized gains(1) |  |  | 21 |  |  |  | 11 |  |  |  | 46 |  |  |  | 44 |
Realized losses(1) |  |  | 6 |  |  |  | 5 |  |  |  | 18 |  |  |  | 17 |
(1) | Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

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