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Quarterly Financial Data (Unaudited) | Nov. 18, 2019
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Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (Unaudited) | N OTE 26. QUARTERLY FINANCIAL DATA (UNAUDITED) A summary of the Companies’ quarterly results of operations for the years ended December 31, 2018 and 2017 follows. Amounts reflect all adjustments necessary in the opinion of management for a fair statement of the results for the interim periods. Results for interim periods may fluctuate as a result of weather conditions, changes in rates and other factors. Dominion Energy
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
(millions) |  |  |  |  |  |  |  |  |  |  |  |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 3,466 |  |  | $ | 3,088 |  |  | $ | 3,451 |  |  | $ | 3,361 |
Income from operations |  |  | 875 |  |  |  | 742 |  |  |  | 1,150 |  |  |  | 834 |
Net income including noncontrolling interests |  |  | 526 |  |  |  | 478 |  |  |  | 883 |  |  |  | 662 |
Net income attributable to Dominion Energy |  |  | 503 |  |  |  | 449 |  |  |  | 854 |  |  |  | 641 |
Basic EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Dominion Energy |  |  | 0.77 |  |  |  | 0.69 |  |  |  | 1.31 |  |  |  | 0.97 |
Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Dominion Energy |  |  | 0.77 |  |  |  | 0.69 |  |  |  | 1.30 |  |  |  | 0.97 |
Dividends declared per common share |  |  | 0.835 |  |  |  | 0.835 |  |  |  | 0.835 |  |  |  | 0.835 |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 3,384 |  |  | $ | 2,813 |  |  | $ | 3,179 |  |  | $ | 3,210 |
Income from operations |  |  | 1,079 |  |  |  | 753 |  |  |  | 1,152 |  |  |  | 953 |
Net income including noncontrolling interests |  |  | 674 |  |  |  | 417 |  |  |  | 696 |  |  |  | 1,333 |
Net income attributable to Dominion Energy |  |  | 632 |  |  |  | 390 |  |  |  | 665 |  |  |  | 1,312 |
Basic EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Dominion Energy |  |  | 1.01 |  |  |  | 0.62 |  |  |  | 1.03 |  |  |  | 2.04 |
Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to Dominion Energy |  |  | 1.01 |  |  |  | 0.62 |  |  |  | 1.03 |  |  |  | 2.04 |
Dividends declared per common share |  |  | 0.755 |  |  |  | 0.755 |  |  |  | 0.770 |  |  |  | 0.770 |
Dominion Energy’s 2018 results include the impact of the following significant items:
• | Fourth quarter results include $536 million of after-tax gains from the sale of certain merchant generation facilities and equity method investments partially offset by a $164 million after-tax impairment charge for certain gathering and processing assets.
• | Second quarter results include an $89 million after-tax charge for disallowance of FERC-regulated plant.
• | First quarter results include a $160 million after-tax charge associated with Virginia legislation enacted in March 2018 that required one-time rate credits of certain amounts to utility customers.
Dominion Energy’s 2017 results include the impact of the following significant item:
• | Fourth quarter results include $ 851 million tax benefit resulting from the remeasurement of deferred income taxes as a result of the 2017 Tax Reform Act, partially offset by $ 96 million of after-tax charges associated with our equity method investments in wind-powered generation facilities.
Virginia Power Virginia Power’s quarterly results of operations were as follows:
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
(millions) |  |  |  |  |  |  |  |  |  |  |  |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 1,748 |  |  | $ | 1,829 |  |  | $ | 2,232 |  |  | $ | 1,810 |
Income from operations |  |  | 364 |  |  |  | 533 |  |  |  | 756 |  |  |  | 418 |
Net income |  |  | 184 |  |  |  | 339 |  |  |  | 520 |  |  |  | 239 |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 1,831 |  |  | $ | 1,747 |  |  | $ | 2,154 |  |  | $ | 1,824 |
Income from operations |  |  | 653 |  |  |  | 613 |  |  |  | 847 |  |  |  | 619 |
Net income |  |  | 356 |  |  |  | 318 |  |  |  | 459 |  |  |  | 407 |
Virginia Power’s 2018 results include the im p act of the following significant item:
• | First quarter results include a $160 million after-tax charge associated with Virginia legislation enacted in March 2018 that required one-time rate credits of certain amounts to utility customers.
Virginia Power’s 2017 results include the impact of the following significant item:
• | Fourth quarter results include a $93 million tax benefit resulting from the remeasurement of deferred income taxes as a result of the 2017 Tax Reform Act.
Dominion Energy Gas Dominion Energy Gas’ quart e rly results of operations were as follows:
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
(millions) |  |  |  |  |  |  |  |  |  |  |  |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 389 |  |  | $ | 508 |  |  | $ | 533 |  |  | $ | 566 |
Income from continuing operations |  |  | 167 |  |  |  | 90 |  |  |  | 302 |  |  |  | 228 |
Net income including noncontrolling interest |  |  | 213 |  |  |  | 129 |  |  |  | 242 |  |  |  | 72 |
Net income from continuing operations |  |  | 157 |  |  |  | 84 |  |  |  | 209 |  |  |  | 182 |
Net income (loss) from discontinued operations |  |  | 56 |  |  |  | 45 |  |  |  | 33 |  |  |  | (110 | )
Net income attributable to Dominion Energy Gas |  |  | 180 |  |  |  | 83 |  |  |  | 191 |  |  |  | 27 |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 404 |  |  | $ | 363 |  |  | $ | 351 |  |  | $ | 405 |
Income from continuing operations |  |  | 147 |  |  |  | 97 |  |  |  | 166 |  |  |  | 142 |
Net income including noncontrolling interest |  |  | 156 |  |  |  | 109 |  |  |  | 151 |  |  |  | 412 |
Net income from continuing operations |  |  | 113 |  |  |  | 73 |  |  |  | 115 |  |  |  | 365 |
Net income from discontinued operations |  |  | 44 |  |  |  | 36 |  |  |  | 36 |  |  |  | 47 |
Net income attributable to Dominion Energy Gas |  |  | 119 |  |  |  | 78 |  |  |  | 119 |  |  |  | 387 |
Dominion Energy Gas’s 2018 results include the impact of the following significant items:
• | Fourth quarter results include a $165 million after-tax impairment charge for certain gathering and processing assets , included in discontinued operations .
• | Second quarter results include an $89 million after-tax charge for disallowance of FERC-regulated plant.
Dominion Energy Gas’s 2017 results include the impact of the following significant item:
• | Fourth quarter results include a $246 million tax benefit resulting from the remeasurement of deferred income taxes as a result of the 2017 Tax Reform Act.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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