XML 64 R41.htm IDEA: XBRL DOCUMENT
v3.20.4

Acquisitions and Dispositions (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
SCANA |
Schedule of Allocation of Purchase Price to Assets Acquired and Liabilities Assumed | The table below shows the allocation of the purchase price to the assets acquired and liabilities assumed at closing, which reflects certain adjustments related to income taxes, as discussed in Note 5, from the preliminary valuation recognized during the measurement period.
| Amount |
(millions) |  |  |  |
Total current assets(1) |  | $ | 1,782 |
Investments(2) |  |  | 224 |
Property, plant and equipment(3)(4) |  |  | 11,006 |
Goodwill |  |  | 2,609 |
Regulatory assets(5) |  |  | 3,940 |
Other deferred charges and other assets, including intangible assets(6) |  |  | 430 |
Total Assets |  |  | 19,991 |
Total current liabilities(7) |  |  | 1,556 |
Long-term debt |  |  | 6,707 |
Deferred income taxes |  |  | 1,068 |
Regulatory liabilities |  |  | 2,706 |
Other deferred credits and other liabilities(8) |  |  | 1,115 |
Total Liabilities |  |  | 13,152 |
Total purchase price(9) |  | $ | 6,839 |
(1) | Includes $389 million of cash, restricted cash and equivalents, of which $115 million is considered restricted.
(2) | Includes $31 million for equity method investments. The fair value adjustment on the equity method investments is considered to be equity method goodwill and is not amortized.
(3) | Includes $105 million of certain property, plant and equipment associated with the NND Project for which Dominion Energy committed to forgo recovery in accordance with the SCANA Merger Approval Order. As a result, Dominion Energy’s Consolidated Statements of Income for the year ended December 31, 2019 include a charge of $105 million ($79 million after-tax), included in impairment of assets and other charges (reflected in the Corporate and Other segment).
(4) | Nonregulated property, plant and equipment, excluding land, will be depreciated on a straight-line basis over the remaining useful lives of such property, primarily ranging from 5 to 78 years.
(5) | Includes $258 million of certain income tax-related regulatory assets associated with the NND Project for which Dominion Energy committed to forgo recovery in accordance with the SCANA Merger Approval Order. See Note 5 for additional information.
(6) | Intangible assets have an estimated weighted-average amortization period of approximately five years.
(7) | Includes $40 million outstanding under letters of credit advances, which were repaid in January 2019, as well as $173 million outstanding commercial paper under various credit facilities. All such credit facilities were terminated in 2019.
(8) | Includes a $379 million pension and other postretirement benefit liability.
(9) | Includes stock-based compensation awards with a fair value of $21 million.
Business Acquisition, Pro Forma Information | The unaudited pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the consolidated results of operations that would have been achieved or the future consolidated results of operations of the combined company.
|  | Twelve Months Ended December 31, |
|  | 2019(1) |  |  | 2018(1) |
(millions, except EPS) |  |  |  |  |  |  |  |
Operating Revenue |  | $ | 15,408 |  |  | $ | 15,344 |
Net income attributable to Dominion Energy |  |  | 3,266 |  |  |  | 2,081 |
Earnings Per Common Share – Basic |  | $ | 4.04 |  |  | $ | 2.78 |
Earnings Per Common Share – Diluted |  | $ | 4.00 |  |  | $ | 2.77 |
(1) | Amounts include adjustments for non-recurring costs directly related to the SCANA Combination.
GT&S Transaction | Dominion Energy Gas Holdings, LLC |
Results of Operations Reported within Discontinued Operations | The following table represents selected information regarding the results of operations, which are reported within discontinued operations in Dominion Energy’s Consolidated Statements of Income:
|  | Year Ended December 31, 2020 |  |  | Year Ended December 31, 2019 |  |  | Year Ended December 31, 2018 |
|  | GT&S Transaction(1) |  |  | Q-Pipe Transaction |  |  | GT&S Transaction |  |  | Q-Pipe Transaction |  |  | GT&S Transaction |  |  | Q-Pipe Transaction |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 1,710 |  |  | $ | 246 |  |  | $ | 2,213 |  |  | $ | 251 |  |  | $ | 2,134 |  |  | $ | 247 |
Operating Expense(2)(3) |  |  | 1,289 |  |  |  | 96 |  |  |  | 1,367 |  |  |  | 131 |  |  |  | 1,663 |  |  |  | 135 |
Other income (loss) |  |  | 88 |  |  |  | 1 |  |  |  | 58 |  |  |  | 4 |  |  |  | 68 |  |  |  | 5 |
Interest and related charges(4) |  |  | 372 |  |  |  | 20 |  |  |  | 267 |  |  |  | 20 |  |  |  | 183 |  |  |  | 20 |
Income (loss) before income taxes |  |  | 137 |  |  |  | 131 |  |  |  | 637 |  |  |  | 104 |  |  |  | 356 |  |  |  | 97 |
Income tax expense (benefit) |  |  | 334 |  |  |  | (9 | ) |  |  | 120 |  |  |  | 23 |  |  |  | 40 |  |  |  | 18 |
Net income (loss) including noncontrolling interests |  |  | (197 | ) |  |  | 140 |  |  |  | 517 |  |  |  | 81 |  |  |  | 316 |  |  |  | 79 |
Noncontrolling interests |  |  | 106 |  |  |  | — |  |  |  | 11 |  |  |  | — |  |  |  | 92 |  |  |  | — |
Net income (loss) attributable to Dominion Energy |  | $ | (303 | ) |  | $ | 140 |  |  | $ | 506 |  |  | $ | 81 |  |  | $ | 224 |  |  | $ | 79 |
(1) | Operations associated with the GT&S Transaction are through the November 1, 2020 settlement date.
(2) | GT&S Transaction includes a charge of $482 million ($359 million after-tax) recorded in the second quarter of 2020 associated with the probable abandonment of a significant portion of the Supply Header Project as well as the establishment of a $75 million ARO as a result of the cancellation of the Atlantic Coast Pipeline Project. It also includes charges of $219 million ($165 million after-tax) associated with the impairment of certain gathering and processing assets, $127 million ($92 million after-tax) associated with the disallowance of FERC-regulated plant and $37 million ($28 million after-tax) write-off associated with the Eastern Market Access Project all recorded in 2018.
(3) | GT&S Transaction includes gains on sales of assets recorded in 2018 totaling $115 million ($83 million after-tax), associated with the conveyance of Marcellus Shale and Utica and Point Pleasant Shale acreage underneath its natural gas storage fields.
(4) | GT&S Transaction includes a loss of $237 million ($178 million after-tax) recorded in the third quarter of 2020 associated with cash flow hedges of debt-related items that were determined to be probable of not occurring.
Schedule of Major Classes of Assets and Liabilities Reported As Held for Sale in Discontinued Operations | The carrying amounts of major classes of assets and liabilities relating to the disposal groups, which are reported as held for sale in Dominion Energy’s Consolidated Balance Sheets, were as follows:
|  | At December 31, 2020(1) |  |  | At December 31, 2019 |
|  | Q-Pipe Transaction |  |  | GT&S Transaction |  |  | Q-Pipe Transaction |
(millions) |  |  |  |  |  |  |  |  |  |  |  |
Current assets(2) |  | $ | 47 |  |  | $ | 445 |  |  | $ | 49 |
Equity method investments(3) |  |  | 35 |  |  |  | 276 |  |  |  | 36 |
Property, plant and equipment, net |  |  | 1,113 |  |  |  | 10,764 |  |  |  | 1,103 |
Other deferred charges and other assets, including goodwill(4) and intangible assets |  |  | 224 |  |  |  | 1,553 |  |  |  | 225 |
Current liabilities(5) |  |  | 30 |  |  |  | 1,002 |  |  |  | 37 |
Long-term debt |  |  | 426 |  |  |  | 4,401 |  |  |  | 425 |
Other deferred credits and liabilities |  |  | 154 |  |  |  | 773 |  |  |  | 155 |
(1) | All amounts at December 31, 2020 are classified as current in Dominion Energy’s Consolidated Balance Sheets.
(2) | Includes cash and cash equivalents of $20 million as of December 31, 2019 within the GT&S Transaction and $7 million and $11 million as of December 31, 2020 and December 31, 2019, respectively, within the Q-Pipe Transaction.
(3) | Comprised of equity method investments in Iroquois and JAX LNG within the GT&S Transaction and White River Hub within the Q-Pipe Transaction.
(4) | Includes goodwill of $1.4 billion at December 31, 2019 within the GT&S Transaction and $191 million at both December 31, 2020 and December 31, 2019 within the Q-Pipe Transaction.
(5) | Includes current portions of long-term debt of $699 million as of December 31, 2019, within the GT&S Transaction.
Capital Expenditures and Significant Noncash Items Relating to the Disposal Groups | Capital expenditures and significant noncash items relating to the disposal groups included the following:
|  | Year Ended December 31, 2020 |  |  | Year Ended December 31, 2019 |  |  | Year Ended December 31, 2018 |
|  | GT&S Transaction(1) |  |  | Q-Pipe Transaction |  |  | GT&S Transaction |  |  | Q-Pipe Transaction |  |  | GT&S Transaction |  |  | Q-Pipe Transaction |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 292 |  |  | $ | 38 |  |  | $ | 386 |  |  | $ | 42 |  |  | $ | 728 |  |  | $ | 34 |
Significant noncash items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of assets and other charges |  |  | 469 |  |  |  | — |  |  |  | 13 |  |  |  | 1 |  |  |  | 391 |  |  |  | — |
Charge related to a voluntary retirement program |  |  | — |  |  |  | — |  |  |  | 19 |  |  |  | 3 |  |  |  | — |  |  |  | — |
Depreciation, depletion and amortization |  |  | 177 |  |  |  | 27 |  |  |  | 322 |  |  |  | 51 |  |  |  | 283 |  |  |  | 57 |
Accrued capital expenditures |  |  | — |  |  |  | 1 |  |  |  | 25 |  |  |  | 2 |  |  |  | 56 |  |  |  | 2 |
(1) | Operations associated with the GT&S Transaction are through the November 1, 2020 settlement date.

X
- Definition Tabular disclosure of purchase price acquisitions. + References No definition available. + Details
Name: | d_ScheduleOfAcquisitionPurchasePriceTableTextBlock
Namespace Prefix: | d_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of capital expenditures and significant noncash items relating to the disposal group. + References No definition available. + Details
Name: | d_ScheduleOfCapitalExpendituresAndSignificantNoncashItemsRelatingToDisposalGroupTableTextBlock
Namespace Prefix: | d_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of discontinued operations balance sheet. + References No definition available. + Details
Name: | d_ScheduleOfDiscontinuedOperationsBalanceSheetTableTextBlock
Namespace Prefix: | d_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of results of operations reported within discontinued operations. + References No definition available. + Details
Name: | d_ScheduleOfResultsOfOperationsReportedWithinDiscontinuedOperationsTableTextBlock
Namespace Prefix: | d_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=d_SCANAMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=d_GasTransmissionAndStorageMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=d_DominionEnergyGasHoldingsLLCMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |