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Investments (Tables) | 6 Months Ended
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Jun. 30, 2022
Equity and Debt Securities and Cash Equivalents and Cost Method Investments in Decommissioning Trust Funds | Dominion Energy’s decommissioning trust funds are summarized below:
|  | Amortized Cost |  |  | Total Unrealized Gains |  |  | Total Unrealized Losses |  |  | Allowance for Credit Losses |  |  | Fair Value |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 1,372 |  |  | $ | 2,406 |  |  | $ | (24 | ) |  |  |  |  |  | $ | 3,754 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 687 |  |  |  | 1 |  |  |  | (70 | ) |  | $ | — |  |  |  | 618 |
Government securities |  |  | 1,261 |  |  |  | 5 |  |  |  | (60 | ) |  |  | — |  |  |  | 1,206 |
Common/collective trust funds |  |  | 60 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 60 |
Insurance contracts |  |  | 224 |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  | 224 |
Cash equivalents and other(3) |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10 |
Total |  | $ | 3,614 |  |  | $ | 2,412 |  |  | $ | (154 | ) | (4) | $ | — |  |  | $ | 5,872 |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 1,567 |  |  | $ | 3,734 |  |  | $ | (13 | ) |  |  |  |  |  | $ | 5,288 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 854 |  |  |  | 32 |  |  |  | (5 | ) |  | $ | — |  |  |  | 881 |
Government securities |  |  | 1,382 |  |  |  | 43 |  |  |  | (7 | ) |  |  | — |  |  |  | 1,418 |
Common/collective trust funds |  |  | 168 |  |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  | 172 |
Insurance contracts |  |  | 255 |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  | 255 |
Cash equivalents and other(3) |  |  | 9 |  |  |  | 2 |  |  |  | (75 | ) |  |  | — |  |  |  | (64 | )
Total |  | $ | 4,235 |  |  | $ | 3,815 |  |  | $ | (100 | ) | (4) | $ | — |  |  | $ | 7,950 |
(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. Changes in allowance for credit losses are included in other income.
(3) | Includes pending sales of securities of $8 million at June 30, 2022, and pending purchases of securities of $35 million at December 31, 2021.
(4) | The fair value of securities in an unrealized loss position was $1.6 billion and $883 million at June 30, 2022 and December 31, 2021, 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 June 30, |  |  | Six Months Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net gains (losses) recognized during the period |  | $ | (712 | ) |  | $ | 352 |  |  | $ | (918 | ) |  | $ | 631 |
Less: Net (gains) losses recognized during the period on securities sold during the period |  |  | 6 |  |  |  | (134 | ) |  |  | 5 |  |  |  | (312 | )
Unrealized gains (losses) recognized during the period on securities still held at period end(1) |  | $ | (706 | ) |  | $ | 218 |  |  | $ | (913 | ) |  | $ | 319 |
(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 June 30, 2022 by contractual maturity is as follows:
|  | Amount |
(millions) |  |  |  |
Due in one year or less |  | $ | 119 |
Due after one year through five years |  |  | 526 |
Due after five years through ten years |  |  | 489 |
Due after ten years |  |  | 750 |
Total |  | $ | 1,884 |
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 June 30, |  |  | Six Months Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sales |  | $ | 1,267 |  |  | $ | 945 |  |  | $ | 2,081 |  |  | $ | 2,710 |
Realized gains(1) |  |  | 75 |  |  |  | 148 |  |  |  | 115 |  |  |  | 380 |
Realized losses(1) |  |  | 143 |  |  |  | 15 |  |  |  | 197 |  |  |  | 74 |
(1) | Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.
Virginia Electric and Power Company |
Equity and Debt Securities and Cash Equivalents and Cost Method Investments in Decommissioning Trust Funds | Virginia Power’s decommissioning trust funds are summarized below:
|  | Amortized Cost |  |  | Total Unrealized Gains |  |  | Total Unrealized Losses |  |  | Allowance for Credit Losses |  |  | Fair Value |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 858 |  |  | $ | 1,265 |  |  | $ | (20 | ) |  |  |  |  |  | $ | 2,103 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 474 |  |  |  | 1 |  |  |  | (56 | ) |  | $ | — |  |  |  | 419 |
Government securities |  |  | 612 |  |  |  | 2 |  |  |  | (26 | ) |  |  | — |  |  |  | 588 |
Common/collective trust funds |  |  | 47 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 47 |
Cash equivalents and other(3) |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3 |
Total |  | $ | 1,994 |  |  | $ | 1,268 |  |  | $ | (102 | ) | (4) | $ | — |  |  | $ | 3,160 |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 841 |  |  | $ | 1,720 |  |  | $ | (11 | ) |  |  |  |  |  | $ | 2,550 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 517 |  |  |  | 17 |  |  |  | (3 | ) |  | $ | — |  |  |  | 531 |
Government securities |  |  | 584 |  |  |  | 16 |  |  |  | (2 | ) |  |  | — |  |  |  | 598 |
Common/collective trust funds |  |  | 53 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 53 |
Cash equivalents and other(3) |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2 |
Total |  | $ | 1,997 |  |  | $ | 1,753 |  |  | $ | (16 | ) | (4) | $ | — |  |  | $ | 3,734 |
(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. Changes in allowance for credit losses are included in other income.
(3) | Includes pending sales of securities of $4 million and $5 million at June 30, 2022 and December 31, 2021, respectively.
(4) | The fair value of securities in an unrealized loss position was $897 million and $425 million at June 30, 2022 and December 31, 2021, 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 June 30, |  |  | Six Months Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net gains (losses) recognized during the period |  | $ | (361 | ) |  | $ | 170 |  |  | $ | (463 | ) |  | $ | 313 |
Less: Net (gains) losses recognized during the period on securities sold during the period |  |  | — |  |  |  | (85 | ) |  |  | (4 | ) |  |  | (173 | )
Unrealized gains (losses) recognized during the period on securities still held at period end(1) |  | $ | (361 | ) |  | $ | 85 |  |  | $ | (467 | ) |  | $ | 140 |
(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 June 30, 2022 by contractual maturity is as follows:
|  | Amount |
(millions) |  |  |  |
Due in one year or less |  | $ | 69 |
Due after one year through five years |  |  | 283 |
Due after five years through ten years |  |  | 328 |
Due after ten years |  |  | 374 |
Total |  | $ | 1,054 |
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 June 30, |  |  | Six Months Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sales |  | $ | 472 |  |  | $ | 460 |  |  | $ | 864 |  |  | $ | 1,249 |
Realized gains(1) |  |  | 10 |  |  |  | 90 |  |  |  | 26 |  |  |  | 196 |
Realized losses(1) |  |  | 33 |  |  |  | 3 |  |  |  | 52 |  |  |  | 26 |
(1) | Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

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