XML 22 R42.htm IDEA: XBRL DOCUMENT v3.19.3
Investments (Tables)
Nov. 18, 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
 
  
Recorded
Value
 
(millions)
   
     
     
     
 
March 31, 2019
 
 
 
  
 
 
  
 
 
  
 
 
Equity securities:
(1)
    
     
     
     
 
U.S.
 
$
1,747
 
  
$
2,002
 
  
$
(17
)
 
$
3,732
 
Fixed income securities:
(2)
    
     
     
     
 
Corporate debt instruments
 
 
457
 
  
 
15
 
  
 
(2
)
 
 
470
 
Government securities
 
 
1,076
 
  
 
29
 
  
 
(4
)
 
 
1,101
 
Common/collective trust funds
 
 
72
 
  
 
—
 
  
 
—
 
  
 
72
 
Insurance contracts
 
 
199
 
  
 
—
 
  
 
—
 
  
 
199
 
Cash equivalents and other
(3)
  
 
6
 
  
 
—
 
  
 
—
 
  
 
6
 
                                 
Total
 
$
3,557
 
  
$
2,046
 
  
$
(23
)
 (4)
  
$
5,580
 
                                 
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
(3)
    
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 $4 million at March 31, 2019.
(4)
The fair value of securities in an unrealized loss position was $405 million and $833 million at March 31, 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 March 31,
 
(millions)
 
 
      2019      
 
    
      2018      
  
                 
Net gains (losses) recognized during the period
 
$
414
 
   $
(65
 )
Less: Net gains recognized during the period on securities sold during the period
 
 
(19
)
   
(19
 )
                 
Unrealized gains (losses) recognized during the period on securities still held at March 31, 2019 and 2018
(1)
  
$
395
 
   $
(84
 )
                 
(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 March 31, 2019 by contractual maturity is as follows:
 
        Amount        
 
(millions)
   
 
Due in one year or less
 
$
187
 
Due after one year through five years
 
 
382
 
Due after five years through ten years
 
 
394
 
Due after ten years
 
 
680
 
         
Total
 
$
     1,643
 
         
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 March 31,
 
  
2019
 
  
2018
 
(millions)
   
     
 
Proceeds from sales
 
$
506
 
   $
419
 
Realized gains
(1)
  
 
43
 
    
36
 
Realized losses
(1)
  
 
23
 
    
19
 
(1)
Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.
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
 
  
Recorded
Value
 
(millions)
 
 
  
 
  
 
  
 
March 31, 2019
 
 
 
  
 
 
  
 
 
  
 
 
Equity securities:
(1)
    
     
     
     
 
U.S.
 
$
871
 
  
$
922
 
  
$
(9
)
 
$
1,784
 
Fixed income securities:
(2)
    
     
     
     
 
Corporate debt instruments
 
 
227
 
  
 
7
 
  
 
(1
)
 
 
233
 
Government securities
 
 
506
 
  
 
14
 
  
 
(1
)
 
 
519
 
Common/collective trust funds
 
 
48
 
  
 
—
 
  
 
—
 
  
 
48
 
Cash equivalents and other
(3)
  
 
7
 
  
 
—
 
  
 
—
 
  
 
7
 
                                 
Total
 
$
1,659
 
  
$
943
 
  
$
(11
)
 (4)
  
$
2,591
 
                                 
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 $7 million and $6 million at March 31, 2019 and December 31, 2018, respectively.
(4)
The fair value of securities in an unrealized loss position was $178 million and $404 million at March 31, 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 March 31,
 
(millions)
 
 
      2019      
 
    
      2018      
  
                 
Net gains (losses) recognized during the period
 
$
186
 
   $
(32
 )
Less: Net gains recognized during the period on securities sold during the period
 
 
(1
)
   
(15
 )
                 
Unrealized gains (losses) recognized during the period on securities still held at March 31, 2019 and 2018
(1)
  
$
185
 
   $
(47
 )
                 
(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 March 31, 2019 by contractual maturity is as follows:
         
 
Amount    
 
(millions)
   
 
Due in one year or less
 
$
77
 
Due after one year through five years
 
 
145
 
Due after five years through ten years
 
 
219
 
Due after ten years
 
 
359
 
         
Total
 
$
                 800
 
         
 
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 March 31,
 
 
      2019      
 
  
      2018      
  
(millions)
   
     
 
Proceeds from sales
 
$
253
 
   $
218
 
Realized gains
(1)
  
 
10
 
    
18
 
Realized losses
(1)
  
 
9
 
    
5
 
 
 
(1)
Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.