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Accumulated Other Comprehensive Income | 9 Months Ended
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Sep. 30, 2020
Equity [Abstract] |
Accumulated Other Comprehensive Income | Note 7. Accumulated Other Comprehensive Income Dominion Energy The following table presents Dominion Energy’s changes in AOCI by component, net of tax:
|  | Deferred gains and losses on derivatives- hedging activities |  |  | Unrealized gains and losses on investment securities |  |  | Unrecognized pension and other postretirement benefit costs |  |  | Other comprehensive loss from equity method investees |  |  | Total |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | (644 | ) |  | $ | 51 |  |  | $ | (1,385 | ) |  | $ | (2 | ) |  | $ | (1,980 | )
Other comprehensive income before reclassifications: gains (losses) |  |  | 10 |  |  |  | 4 |  |  |  | (261 | ) |  |  | 1 |  |  |  | (246 | )
Amounts reclassified from AOCI: (gains) losses(1) |  |  | 188 |  |  |  | (1 | ) |  |  | 23 |  |  |  | — |  |  |  | 210 |
Net current period other comprehensive income (loss) |  |  | 198 |  |  |  | 3 |  |  |  | (238 | ) |  |  | 1 |  |  |  | (36 | )
Ending balance |  | $ | (446 | ) |  | $ | 54 |  |  | $ | (1,623 | ) |  | $ | (1 | ) |  | $ | (2,016 | )
Three Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | (389 | ) |  | $ | 30 |  |  | $ | (1,322 | ) |  | $ | (2 | ) |  | $ | (1,683 | )
Other comprehensive income before reclassifications: gains (losses) |  |  | (107 | ) |  |  | 8 |  |  |  | (4 | ) |  |  | (1 | ) |  |  | (104 | )
Amounts reclassified from AOCI: (gains) losses(1) |  |  | (6 | ) |  |  | (4 | ) |  |  | 20 |  |  |  | — |  |  |  | 10 |
Net current period other comprehensive income (loss) |  |  | (113 | ) |  |  | 4 |  |  |  | 16 |  |  |  | (1 | ) |  |  | (94 | )
Ending balance |  | $ | (502 | ) |  | $ | 34 |  |  | $ | (1,306 | ) |  | $ | (3 | ) |  | $ | (1,777 | )
Nine Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | (407 | ) |  | $ | 37 |  |  | $ | (1,421 | ) |  | $ | (2 | ) |  | $ | (1,793 | )
Other comprehensive income before reclassifications: gains (losses) |  |  | (254 | ) |  |  | 32 |  |  |  | (262 | ) |  |  | 1 |  |  |  | (483 | )
Amounts reclassified from AOCI: (gains) losses(1) |  |  | 215 |  |  |  | (15 | ) |  |  | 60 |  |  |  | — |  |  |  | 260 |
Net current period other comprehensive income (loss) |  |  | (39 | ) |  |  | 17 |  |  |  | (202 | ) |  |  | 1 |  |  |  | (223 | )
Ending balance |  | $ | (446 | ) |  | $ | 54 |  |  | $ | (1,623 | ) |  | $ | (1 | ) |  | $ | (2,016 | )
Nine Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | (235 | ) |  | $ | 2 |  |  | $ | (1,465 | ) |  | $ | (2 | ) |  | $ | (1,700 | )
Other comprehensive income before reclassifications: gains (losses) |  |  | (209 | ) |  |  | 37 |  |  |  | 109 |  |  |  | (1 | ) |  |  | (64 | )
Amounts reclassified from AOCI: (gains) losses(1) |  |  | (58 | ) |  |  | (5 | ) |  |  | 50 |  |  |  | — |  |  |  | (13 | )
Net current period other comprehensive income (loss) |  |  | (267 | ) |  |  | 32 |  |  |  | 159 |  |  |  | (1 | ) |  |  | (77 | )
Ending balance |  | $ | (502 | ) |  | $ | 34 |  |  | $ | (1,306 | ) |  | $ | (3 | ) |  | $ | (1,777 | )
(1) | See table below for details about these reclassifications.
The following table presents Dominion Energy’s reclassifications out of AOCI by component:
Details about AOCI components |  | Amounts reclassified from AOCI |  |  | Affected line item in the Consolidated Statements of Income
(millions) |  |  |  |  |  |
Three Months Ended September 30, 2020 |  |  |  |  |  |
Deferred (gains) and losses on derivatives-hedging activities: |  |  |  |  |  |
Commodity contracts |  | $ | (8 | ) |  | Operating revenue
Interest rate contracts |  |  | 23 |  |  | Interest and related charges
|  |  | 230 |  |  | Discontinued operations
Foreign currency contracts |  |  | 6 |  |  | Discontinued operations
Total |  |  | 251 |  |  |
Tax |  |  | (63 | ) |  | Income tax expense (benefit)
Total, net of tax |  | $ | 188 |  |  |
Unrealized (gains) and losses on investment securities: |  |  |  |  |  |
Realized (gains) losses on sale of securities |  | $ | (3 | ) |  | Other income
Total |  |  | (3 | ) |  |
Tax |  |  | 2 |  |  | Income tax expense (benefit)
Total, net of tax |  | $ | (1 | ) |  |
Unrecognized pension and other postretirement benefit costs: |  |  |  |  |  |
Amortization of prior-service costs (credits) |  | $ | (5 | ) |  | Other income
Amortization of actuarial losses |  |  | 36 |  |  | Other income
Total |  |  | 31 |  |  |
Tax |  |  | (8 | ) |  | Income tax expense (benefit)
Total, net of tax |  | $ | 23 |  |  |
Three Months Ended September 30, 2019 |  |  |  |  |  |
Deferred (gains) and losses on derivatives-hedging activities: |  |  |  |  |  |
Commodity contracts |  | $ | (34 | ) |  | Operating revenue
|  |  | 2 |  |  | Purchased gas
|  |  | (1 | ) |  | Discontinued operations
Interest rate contracts |  |  | 12 |  |  | Interest and related charges
|  |  | 2 |  |  | Discontinued operations
Foreign currency contracts |  |  | 12 |  |  | Discontinued operations
Total |  |  | (7 | ) |  |
Tax |  |  | 1 |  |  | Income tax expense (benefit)
Total, net of tax |  | $ | (6 | ) |  |
Unrealized (gains) and losses on investment securities: |  |  |  |  |  |
Realized (gains) losses on sale of securities |  | $ | (5 | ) |  | Other income
Total |  |  | (5 | ) |  |
Tax |  |  | 1 |  |  | Income tax expense (benefit)
Total, net of tax |  | $ | (4 | ) |  |
Unrecognized pension and other postretirement benefit costs: |  |  |  |  |  |
Amortization of prior-service costs (credits) |  | $ | (5 | ) |  | Other income
Amortization of actuarial losses |  |  | 31 |  |  | Other income
Total |  |  | 26 |  |  |
Tax |  |  | (6 | ) |  | Income tax expense (benefit)
Total, net of tax |  | $ | 20 |  |  |
Details about AOCI components |  | Amounts reclassified from AOCI |  |  | Affected line item in the Consolidated Statements of Income
(millions) |  |  |  |  |  |
Nine Months Ended September 30, 2020 |  |  |  |  |  |
Deferred (gains) and losses on derivatives-hedging activities: |  |  |  |  |  |
Commodity contracts |  | $ | (22 | ) |  | Operating revenue
|  |  | 3 |  |  | Purchased gas
|  |  | (2 | ) |  | Discontinued operations
Interest rate contracts |  |  | 66 |  |  | Interest and related charges
|  |  | 236 |  |  | Discontinued operations
Foreign currency contracts |  |  | 6 |  |  | Discontinued operations
Total |  |  | 287 |  |  |
Tax |  |  | (72 | ) |  | Income tax expense (benefit)
Total, net of tax |  | $ | 215 |  |  |
Unrealized (gains) and losses on investment securities: |  |  |  |  |  |
Realized (gains) losses on sale of securities |  | $ | (21 | ) |  | Other income
Total |  |  | (21 | ) |  |
Tax |  |  | 6 |  |  | Income tax expense (benefit)
Total, net of tax |  | $ | (15 | ) |  |
Unrecognized pension and other postretirement benefit costs: |  |  |  |  |  |
Amortization of prior-service costs (credits) |  | $ | (16 | ) |  | Other income
Amortization of actuarial losses |  |  | 97 |  |  | Other income
Total |  |  | 81 |  |  |
Tax |  |  | (21 | ) |  | Income tax expense (benefit)
Total, net of tax |  | $ | 60 |  |  |
Nine Months Ended September 30, 2019 |  |  |  |  |  |
Deferred (gains) and losses on derivatives-hedging activities: |  |  |  |  |  |
Commodity contracts |  | $ | (123 | ) |  | Operating revenue
|  |  | (1 | ) |  | Purchased gas
|  |  | (4 | ) |  | Discontinued operations
Interest rate contracts |  |  | 35 |  |  | Interest and related charges
|  |  | 2 |  |  | Discontinued operations
Foreign currency contracts |  |  | 14 |  |  | Discontinued operations
Total |  |  | (77 | ) |  |
Tax |  |  | 19 |  |  | Income tax expense (benefit)
Total, net of tax |  | $ | (58 | ) |  |
Unrealized (gains) and losses on investment securities: |  |  |  |  |  |
Realized (gains) losses on sale of securities |  | $ | (6 | ) |  | Other income
Total |  |  | (6 | ) |  |
Tax |  |  | 1 |  |  | Income tax expense (benefit)
Total, net of tax |  | $ | (5 | ) |  |
Unrecognized pension and other postretirement benefit costs: |  |  |  |  |  |
Amortization of prior-service costs (credits) |  | $ | (18 | ) |  | Other income
Amortization of actuarial losses |  |  | 85 |  |  | Other income
Total |  |  | 67 |  |  |
Tax |  |  | (17 | ) |  | Income tax expense (benefit)
Total, net of tax |  | $ | 50 |  |  |
Virginia Power The following table presents Virginia Power’s changes in AOCI by component, net of tax:
|  | Deferred gains and losses on derivatives- hedging activities |  |  | Unrealized gains and losses on investment securities |  |  | Total |
(millions) |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | (78 | ) |  | $ | 8 |  |  | $ | (70 | )
Other comprehensive income before reclassifications: gains (losses) |  |  | 5 |  |  |  | — |  |  |  | 5 |
Amounts reclassified from AOCI: (gains) losses(1) |  |  | 1 |  |  |  | (1 | ) |  |  | — |
Net current period other comprehensive income (loss) |  |  | 6 |  |  |  | (1 | ) |  |  | 5 |
Ending balance |  | $ | (72 | ) |  | $ | 7 |  |  | $ | (65 | )
Three Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | (30 | ) |  | $ | 4 |  |  | $ | (26 | )
Other comprehensive income before reclassifications: gains (losses) |  |  | (16 | ) |  |  | 1 |  |  |  | (15 | )
Amounts reclassified from AOCI: (gains) losses(1) |  |  | — |  |  |  | — |  |  |  | — |
Net current period other comprehensive income (loss) |  |  | (16 | ) |  |  | 1 |  |  |  | (15 | )
Ending balance |  | $ | (46 | ) |  | $ | 5 |  |  | $ | (41 | )
Nine Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | (34 | ) |  | $ | 5 |  |  | $ | (29 | )
Other comprehensive income before reclassifications: gains (losses) |  |  | (39 | ) |  |  | 4 |  |  |  | (35 | )
Amounts reclassified from AOCI: (gains) losses(1) |  |  | 1 |  |  |  | (2 | ) |  |  | (1 | )
Net current period other comprehensive income (loss) |  |  | (38 | ) |  |  | 2 |  |  |  | (36 | )
Ending balance |  | $ | (72 | ) |  | $ | 7 |  |  | $ | (65 | )
Nine Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | (13 | ) |  | $ | 1 |  |  | $ | (12 | )
Other comprehensive income before reclassifications: gains (losses) |  |  | (34 | ) |  |  | 5 |  |  |  | (29 | )
Amounts reclassified from AOCI: (gains) losses(1) |  |  | 1 |  |  |  | (1 | ) |  |  | — |
Net current period other comprehensive income (loss) |  |  | (33 | ) |  |  | 4 |  |  |  | (29 | )
Ending balance |  | $ | (46 | ) |  | $ | 5 |  |  | $ | (41 | )
(1) | See table below for details about these reclassifications. Virginia Power’s reclassifications out of AOCI were immaterial for both the three and nine months ended September 30, 2019.
The following table presents Virginia Power’s reclassifications out of AOCI by component:
Details about AOCI components |  | Amounts reclassified from AOCI |  |  | Affected line item in the Consolidated Statements of Income
(millions) |  |  |  |  |  |
Three Months Ended September 30, 2020 |  |  |  |  |  |
(Gains) losses on cash flow hedges: |  |  |  |  |  |
Interest rate contracts |  | $ | 1 |  |  | Interest and related charges
Total |  |  | 1 |  |  |
Tax |  |  | — |  |  | Income tax expense
Total, net of tax |  | $ | 1 |  |  |
Unrealized (gains) and losses on investment securities: |  |  |  |  |  |
Realized (gains) losses on sale of securities |  | $ | (1 | ) |  | Other income
Total |  |  | (1 | ) |  |
Tax |  |  | — |  |  | Income tax expense
Total, net of tax |  | $ | (1 | ) |  |
Nine Months Ended September 30, 2020 |  |  |  |  |  |
(Gains) losses on cash flow hedges: |  |  |  |  |  |
Interest rate contracts |  | $ | 2 |  |  | Interest and related charges
Total |  |  | 2 |  |  |
Tax |  |  | (1 | ) |  | Income tax expense
Total, net of tax |  | $ | 1 |  |  |
Unrealized (gains) and losses on investment securities: |  |  |  |  |  |
Realized (gains) losses on sale of securities |  | $ | (3 | ) |  | Other income
Total |  |  | (3 | ) |  |
Tax |  |  | 1 |  |  | Income tax expense
Total, net of tax |  | $ | (2 | ) |  |

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