XML 45 R32.htm IDEA: XBRL DOCUMENT
v3.22.2

Operating Segments | 6 Months Ended
--- | ---
Jun. 30, 2022
Segment Reporting [Abstract] |
Operating Segments | Note 21. Operating Segments The Companies are organized primarily on the basis of products and services sold in the U.S. A description of the operations included in the Companies’ primary operating segments is as follows:
Primary Operating Segment |  | Description of Operations |  | Dominion Energy |  | Virginia Power
Dominion Energy Virginia |  | Regulated electric distribution |  | X |  | X
|  | Regulated electric transmission |  | X |  | X
|  | Regulated electric generation fleet(1) |  | X |  | X
Gas Distribution |  | Regulated gas distribution and storage(2) |  | X |  |
Dominion Energy South Carolina |  | Regulated electric distribution |  | X |  |
|  | Regulated electric transmission |  | X |  |
|  | Regulated electric generation fleet |  | X |  |
|  | Regulated gas distribution and storage |  | X |  |
Contracted Assets |  | Nonregulated electric generation fleet(3) |  | X |  |
|  | Noncontrolling interest in Cove Point |  | X |  |
(1) | I ncludes Virginia Power’s non-jurisdictional generation operations.
(2) | Includes renewable natural gas operations as well as Wexpro’s gas development and production operations.
(3) | Includes solar generation facility development operations.
In addition to the operating segments above, the Companies also report a Corporate and Other segment. Dominion Energy The Corporate and Other Segment of Dominion Energy includes its corporate, service company and other functions (including unallocated debt) as well as nonregulated retail energy marketing operations (prior to December 2021), including Dominion Energy’s noncontrolling interests in Wrangler (through March 2022) and Dominion Privatization. In addition, Corporate and Other includes specific items attributable to Dominion Energy’s operating segments that are not included in profit measures evaluated by executive management in assessing the segments’ performance or in allocating resources as well as the net impact of the gas transmission and storage operations presented in discontinued operations, which are discussed in Note 3. In the six months ended June 30, 2022, Dominion Energy reported after-tax net expenses of $1.5 billion in the Corporate and Other segment, including $1.4 billion of after-tax net expenses for specific items with $1.5 billion of after-tax net expenses attributable to its operating segments. In the six months ended June 30, 2021, Dominion Energy reported after-tax net expenses of $358 million in the Corporate and Other segment, including $228 million of after-tax net expenses for specific items with $314 million of after-tax net expenses attributable to its operating segments. The net expenses for specific items attributable to Dominion Energy’s operating segments in 2022 primarily related to the impact of the following items:
• | A $649 million ($513 million after-tax) loss associated with the sale of Kewaunee, attributable to Contracted Assets;
• | A $579 million ($450 million after-tax) loss related to investments in nuclear decommissioning trust funds, attributable to:
| • | Contracted Assets ($392 million after-tax); and
| • | Dominion Energy Virginia ($58 million after-tax);
• | A $191 million ($142 million after-tax) charge in connection with a proposed comprehensive settlement agreement for Virginia fuel expenses, attributable to Dominion Energy Virginia;
• | A $180 million ($134 million after-tax) charge for RGGI compliance costs deemed recovered through base rates, attributable to Dominion Energy Virginia;
• | A $126 million ($91 million after-tax) loss related to economic hedging activities, attributable to Contracted Assets;
• | A $122 million ($91 million after-tax) charge for amortization of a regulatory asset established in connection with the settlement of the 2021 Triennial Review, attributable to Dominion Energy Virginia;
• | A $94 million ($70 million after-tax) charge associated with storm damage and service restoration in Virginia Power’s service territory, attributable to Dominion Energy Virginia; and
• | A $42 million ($31 million after-tax) charge for dismantling costs associated with certain retired electric generation facilities, attributable to Dominion Energy Virginia.
The net expenses for specific items attributable to Dominion Energy’s operating segments in 2021 primarily related to the impact of the following items:
• | $266 million ($199 million after-tax) of charges associated with the settlement of the South Carolina electric base rate case, attributable to Dominion Energy South Carolina;
• | A $169 million ($127 million after-tax) loss related to economic hedging activities, attributable to Contracted Assets;
• | A $151 million ($112 million after-tax) loss from an unbilled revenue reduction at Virginia Power, attributable to Dominion Energy Virginia;
• | A $77 million ($57 million after-tax) charge for the forgiveness of Virginia retail electric customer accounts in arrears pursuant to Virginia’s 2021 budget process, attributable to Dominion Energy Virginia;
• | A $70 million ($53 million after-tax) charge associated with litigation acquired in the SCANA Combination, attributable to Dominion Energy South Carolina;
• | A $68 million ($50 million after-tax) charge associated with storm damage and service restoration in Virginia Power’s service territory, attributable to Dominion Energy Virginia; and
• | A $44 million ($35 million after-tax) charge related to a revision in estimated recovery of spent nuclear fuel costs associated with the decommissioning of Kewaunee, attributable to Contracted Assets; partially offset by
• | A $328 million ($256 million after-tax) gain related to investments in nuclear decommissioning trust funds, attributable to:
| • | Contracted Assets ($226 million after-tax); and
| • | Dominion Energy Virginia ($30 million after-tax); and
• | A $130 million ($97 million after-tax) benefit for a change in the CCRO reserve associated with the 2021 Triennial Review, attributable to Dominion Energy Virginia.
The following table presents segment information pertaining to Dominion Energy’s operations:
|  | Dominion Energy Virginia |  |  | Gas Distribution |  |  | Dominion Energy South Carolina |  |  | Contracted Assets |  |  | Corporate and Other |  |  | Adjustments & Eliminations |  |  | Consolidated Total |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue from external customers |  | $ | 2,175 |  |  | $ | 565 |  |  | $ | 812 |  |  | $ | 161 |  |  | $ | (117 | ) |  | $ | — |  |  | $ | 3,596 |
Intersegment revenue |  |  | (3 | ) |  |  | — |  |  |  | 3 |  |  |  | 6 |  |  |  | 225 |  |  |  | (231 | ) |  |  | — |
Total operating revenue |  |  | 2,172 |  |  |  | 565 |  |  |  | 815 |  |  |  | 167 |  |  |  | 108 |  |  |  | (231 | ) |  |  | 3,596 |
Net loss from discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | (1 | )
Net income (loss) attributable to Dominion Energy |  |  | 440 |  |  |  | 125 |  |  |  | 124 |  |  |  | 20 |  |  |  | (1,162 | ) |  |  | — |  |  |  | (453 | )
Three Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue from external customers |  | $ | 1,752 |  |  | $ | 453 |  |  | $ | 679 |  |  | $ | 257 |  |  | $ | (115 | ) |  | $ | 11 |  |  | $ | 3,037 |
Intersegment revenue |  |  | (5 | ) |  |  | 2 |  |  |  | 2 |  |  |  | 17 |  |  |  | 235 |  |  |  | (250 | ) |  |  | 1 |
Total operating revenue |  |  | 1,747 |  |  |  | 455 |  |  |  | 681 |  |  |  | 274 |  |  |  | 120 |  |  |  | (239 | ) |  |  | 3,038 |
Net income from discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 26 |  |  |  | — |  |  |  | 26 |
Net income (loss) attributable to Dominion Energy |  |  | 431 |  |  |  | 95 |  |  |  | 84 |  |  |  | 104 |  |  |  | (429 | ) |  |  | — |  |  |  | 285 |
Six Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue from external customers |  | $ | 4,347 |  |  | $ | 1,794 |  |  | $ | 1,610 |  |  | $ | 406 |  |  | $ | (282 | ) |  | $ | — |  |  | $ | 7,875 |
Intersegment revenue |  |  | (6 | ) |  |  | 1 |  |  |  | 4 |  |  |  | 10 |  |  |  | 462 |  |  |  | (471 | ) |  |  | — |
Total operating revenue |  |  | 4,341 |  |  |  | 1,795 |  |  |  | 1,614 |  |  |  | 416 |  |  |  | 180 |  |  |  | (471 | ) |  |  | 7,875 |
Net income from discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18 |  |  |  | — |  |  |  | 18 |
Net income (loss) attributable to Dominion Energy |  |  | 958 |  |  |  | 419 |  |  |  | 233 |  |  |  | 121 |  |  |  | (1,473 | ) |  |  | — |  |  |  | 258 |
Six Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue from external customers |  | $ | 3,739 |  |  | $ | 1,428 |  |  | $ | 1,431 |  |  | $ | 525 |  |  | $ | (245 | ) |  | $ | 28 |  |  | $ | 6,906 |
Intersegment revenue |  |  | (7 | ) |  |  | 3 |  |  |  | 4 |  |  |  | 38 |  |  |  | 465 |  |  |  | (501 | ) |  |  | 2 |
Total operating revenue |  |  | 3,732 |  |  |  | 1,431 |  |  |  | 1,435 |  |  |  | 563 |  |  |  | 220 |  |  |  | (473 | ) |  |  | 6,908 |
Net income from discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 54 |  |  |  | — |  |  |  | 54 |
Net income (loss) attributable to Dominion Energy |  |  | 865 |  |  |  | 346 |  |  |  | 186 |  |  |  | 254 |  |  |  | (358 | ) |  |  | — |  |  |  | 1,293 |
Intersegment sales and transfers for Dominion Energy are based on contractual arrangements and may result in intersegment profit or loss that is eliminated in consolidation, including amounts related to entities presented within discontinued operations. Virginia Power The Corporate and Other Segment of Virginia Power primarily includes specific items attributable to its operating segment that are not included in profit measures evaluated by executive management in assessing the segment’s performance or in allocating resources. In the six months ended June 30, 2022, Virginia Power reported after-tax net expenses of $554 million in the Corporate and Other segment, including $547 million of after-tax net expenses for specific items with $527 million of after-tax net expenses attributable to its operating segment. In the six months ended June 30, 2021, Virginia Power reported after-tax net expenses of $73 million in the Corporate and Other segment, including $94 million of after-tax net expenses for specific items all of which was attributable to its operating segment. The net expenses for specific items attributable to Virginia Power’s operating segment in 2022 primarily related to the impact of the following items:
• | A $191 million ($142 million after-tax) charge in connection with a proposed comprehensive settlement agreement for Virginia fuel expenses;
• | A $180 million ($134 million after-tax) charge for RGGI compliance costs deemed recovered through base rates;
• | A $122 million ($91 million after-tax) charge for amortization of a regulatory asset established in connection with the settlement of the 2021 Triennial Review;
• | A $94 million ($70 million after-tax) charge associated with storm damage and service restoration in its service territory;
• | A $78 million ($58 million after-tax) loss related to investments in nuclear decommissioning trust funds; and
• | A $42 million ($31 million after-tax) charge for dismantling costs associated with certain retired electric generation facilities.
The net expenses for specific items attributable to Virginia Power’s operating segment in 2021 primarily related to the impact of the following items:
• | A $151 million ($112 million after-tax) loss from an unbilled revenue reduction;
• | A $77 million ($57 million after-tax) charge for the forgiveness of Virginia retail electric customer accounts in arrears pursuant to Virginia’s 2021 budget process; and
• | A $68 million ($50 million after-tax) charge associated with storm damage and service restoration in its service territory; partially offset by
• | A $130 million ($97 million after-tax) benefit for a change in the CCRO reserve associated with the 2021 Triennial Review.
The following table presents segment information pertaining to Virginia Power’s operations:
|  | Dominion Energy Virginia |  |  | Corporate and Other |  |  | Consolidated Total |
(millions) |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 2,170 |  |  | $ | 5 |  |  | $ | 2,175 |
Net income (loss) |  |  | 442 |  |  |  | (395 | ) |  |  | 47 |
Three Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 1,741 |  |  | $ | — |  |  | $ | 1,741 |
Net income (loss) |  |  | 429 |  |  |  | (15 | ) |  |  | 414 |
Six Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 4,335 |  |  | $ | 7 |  |  | $ | 4,342 |
Net income (loss) |  |  | 958 |  |  |  | (554 | ) |  |  | 404 |
Six Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 3,722 |  |  | $ | (151 | ) |  | $ | 3,571 |
Net income (loss) |  |  | 861 |  |  |  | (73 | ) |  |  | 788 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration