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v3.23.3

Acquisitions and Dispositions (Tables) | 12 Months Ended
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Dec. 31, 2022
Results of Operations Reported within Discontinued Operations | The following table represents selected information regarding the results of operations, which were reported within discontinued operations in Dominion Energy’s Consolidated Statements of Income:
|  | Business Review Dispositions |
Year Ended December 31, 2022 |  | East Ohio Transaction |  |  | PSNC Transaction |  |  | Questar Gas Transaction |  |  | Other |
(millions) |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 1,043 |  |  | $ | 841 |  |  | $ | 1,341 |  |  | $ | 5 |
Operating expense |  |  | 702 |  |  |  | 648 |  |  |  | 1,043 |  |  |  | 5 |
Other income (expense) |  |  | 28 |  |  |  | 9 |  |  |  | — |  |  |  | — |
Interest and related charges |  |  | 36 |  |  |  | 43 |  |  |  | 45 |  |  |  | — |
Income before income taxes |  |  | 333 |  |  |  | 159 |  |  |  | 253 |  |  |  | — |
Income tax expense |  |  | 45 |  |  |  | 34 |  |  |  | 50 |  |  |  | — |
Net income attributable to Dominion Energy(1) |  | $ | 288 |  |  | $ | 125 |  |  | $ | 203 |  |  | $ | — |
(1) Excludes $(3) million of income tax expense (benefit) attributable to consolidated state and interim period tax allocation adjustments for the year ended December 31, 2022.
|  | Disposition of Gas Transportation & Storage Operations |  |  | Business Review Dispositions |
Year Ended December 31, 2021 |  | Q-Pipe Group(1) |  |  | East Ohio Transaction |  |  | PSNC Transaction |  |  | Questar Gas Transaction |  |  | Other |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 254 |  |  | $ | 908 |  |  | $ | 613 |  |  | $ | 1,020 |  |  | $ | 4 |
Operating expense |  |  | 76 |  |  |  | 620 |  |  |  | 451 |  |  |  | 761 |  |  |  | 5 |
Other income (expense)(2) |  |  | 28 |  |  |  | 25 |  |  |  | 11 |  |  |  | (1 | ) |  |  | — |
Interest and related charges |  |  | 25 |  |  |  | 18 |  |  |  | 35 |  |  |  | 35 |  |  |  | — |
Income (loss) before income taxes |  |  | 181 |  |  |  | 295 |  |  |  | 138 |  |  |  | 223 |  |  |  | (1 | )
Income tax expense (benefit) |  |  | 36 |  |  |  | 38 |  |  |  | 27 |  |  |  | 42 |  |  |  | — |
Net income (loss) attributable to Dominion Energy(3) |  | $ | 145 |  |  | $ | 257 |  |  | $ | 111 |  |  | $ | 181 |  |  | $ | (1 | )
(1) Operations associated with the Q-Pipe Group are through the December 31, 2021 closing date. (2) Q-Pipe Group includes a $25 million benefit associated with the termination of the Q-Pipe Transaction in 2021. (3) Excludes $19 million of income tax expense (benefit) attributable to consolidated state and interim period tax allocation adjustments for the year ended December 31, 2021.
|  | Disposition of Gas Transportation & Storage Operations |  |  | Business Review Dispositions |
Year Ended December 31, 2020 |  | GT&S Transaction(1) |  |  | Q-Pipe Group |  |  | East Ohio Transaction |  |  | PSNC Transaction |  |  | Questar Gas Transaction |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 1,710 |  |  | $ | 246 |  |  | $ | 771 |  |  | $ | 539 |  |  | $ | 938 |
Operating expense(2) |  |  | 1,289 |  |  |  | 96 |  |  |  | 540 |  |  |  | 376 |  |  |  | 676 |
Other income (expense) |  |  | 88 |  |  |  | 1 |  |  |  | 20 |  |  |  | 12 |  |  |  | (2 | )
Interest and related charges (benefit)(3) |  |  | 372 |  |  |  | 20 |  |  |  | (32 | ) |  |  | 38 |  |  |  | 32 |
Income before income taxes |  |  | 137 |  |  |  | 131 |  |  |  | 283 |  |  |  | 137 |  |  |  | 228 |
Income tax expense (benefit)(4) |  |  | 334 |  |  |  | (9 | ) |  |  | 35 |  |  |  | 30 |  |  |  | 45 |
Net income (loss) including noncontrolling interests |  |  | (197 | ) |  |  | 140 |  |  |  | 248 |  |  |  | 107 |  |  |  | 183 |
Noncontrolling interests |  |  | 106 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income (loss) attributable to Dominion Energy(5) |  | $ | (303 | ) |  | $ | 140 |  |  | $ | 248 |  |  | $ | 107 |  |  | $ | 183 |
(1) Operations associated with the GT&S Transaction are through the November 1, 2020 close date. (2) GT&S Transaction includes a charge of $482 million ($359 million after-tax) recorded in 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. (3) GT&S Transaction includes a loss of $237 million ($178 million after-tax) recorded in 2020 associated with cash flow hedges of debt-related items that were determined to be probable of not occurring. (4) Excludes $17 million income tax benefit recorded in 2021 associated with the GT&S Transaction. (5) Excludes $24 million of income tax expense (benefit) attributable to consolidated state and interim period tax allocation adjustments for the year ended December 31, 2020.
Schedule of Major Classes of Assets and Liabilities of Disposal Groups Reported As Held for Sale | The carrying value 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, 2022 |  |  | At December 31, 2021 |
| Business Review Dispositions |  |  | Business Review Dispositions |
| East Ohio Transaction |  | PSNC Transaction |  | Questar Gas Transaction |  | Other |  |  | East Ohio Transaction |  | PSNC Transaction |  | Questar Gas Transaction |  | Other |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets(1) | $ | 544 |  | $ | 381 |  | $ | 803 |  | $ | 1 |  |  | $ | 439 |  | $ | 296 |  | $ | 422 |  | $ | 1 |
Property, plant and equipment, net |  | 5,012 |  |  | 2,591 |  |  | 3,984 |  |  | 47 |  |  |  | 4,636 |  |  | 2,506 |  |  | 3,677 |  |  | 52 |
Other deferred charges and other assets, including goodwill(2) and intangible assets |  | 2,629 |  |  | 822 |  |  | 1,043 |  |  | — |  |  |  | 2,563 |  |  | 823 |  |  | 1,101 |  |  | — |
Current liabilities(3) |  | 634 |  |  | 151 |  |  | 612 |  |  | 1 |  |  |  | 557 |  |  | 133 |  |  | 263 |  |  | 1 |
Long-term debt(4) |  | 2,287 |  |  | 798 |  |  | 1,245 |  |  | — |  |  |  | 1,786 |  |  | 798 |  |  | 995 |  |  | — |
Other deferred credits and liabilities(5) |  | 1,435 |  |  | 689 |  |  | 1,087 |  |  | 9 |  |  |  | 1,408 |  |  | 673 |  |  | 1,039 |  |  | 14 |
(1) Includes cash and cash equivalents of $6 million and $3 million within the East Ohio Transaction, less than $1 million and $14 million within the PSNC Transaction and $28 million and $17 million within the Questar Gas Transaction at December 31, 2022 and 2021, respectively. Also includes regulatory assets of $90 million and $56 million within the East Ohio Transaction, $95 million and $88 million within the PSNC Transaction and $273 million and $125 million within the Questar Gas Transaction at December 31, 2022 and 2021, respectively (2) Includes goodwill of $1.5 billion, $673 million and $983 million at both December 31, 2022 and 2021 within the East Ohio, PSNC and Questar Gas Transactions, respectively. Also includes regulatory assets of $751 million and $607 million within the East Ohio Transaction, $93 million and $103 million within the PSNC Transaction and $(22) million and $47 million within the Questar Gas Transaction at December 31, 2022 and 2021, respectively. (3) Includes regulatory liabilities of $43 million and $51 million within the East Ohio Transaction, $11 million and $18 million within the PSNC Transaction and $144 million and $28 million within the Questar Gas Transaction at December 31, 2022 and 2021, respectively. (4) Includes East Ohio Unsecured Senior Notes due 2025 to 2052 at rates from 1.30% to 6.38% and with a weighted-average coupon rate for debt outstanding at December 31, 2022 of 3.13%; PSNC Unsecured Senior Notes due 2026 to 2051 at rates from 3.10% to 7.45% and with a weighted-average coupon rate for debt outstanding at December 31, 2022 of 4.34% and Questar Gas Unsecured Senior Notes due 2024 to 2052 at rates from 2.21% to 7.20% and with a weighted-average coupon rate for debt outstanding at December 31, 2022 of 3.99%. (5) Includes regulatory liabilities of $749 million and $754 million within the East Ohio Transaction, $436 million and $435 million within the PSNC Transaction and $506 million and $500 million within the Questar Gas Transaction at December 31, 2022 and 2021, respectively.
GT&S Transaction | Dominion Energy Gas Holdings, LLC |
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:
|  | Business Review Dispositions |
Year Ended December 31, 2022 |  | East Ohio Transaction |  |  | PSNC Transaction |  |  | Questar Gas Transaction |  |  | Other |
(millions) |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 456 |  |  | $ | 153 |  |  | $ | 438 |  |  | $ | — |
Significant noncash items |  |  |  |  |  |  |  |  |  |  |  |
Depreciation, depletion and amortization |  |  | 134 |  |  |  | 87 |  |  |  | 163 |  |  |  | 4 |
Accrued capital expenditures |  |  | 53 |  |  |  | 16 |  |  |  | 31 |  |  |  | — |
|  | Disposition of Gas Transportation & Storage Operations |  |  | Business Review Dispositions |
Year Ended December 31, 2021 |  | Q-Pipe Group(1) |  |  | East Ohio Transaction |  |  | PSNC Transaction |  |  | Questar Gas Transaction |  |  | Other |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures(2) |  | $ | 34 |  |  | $ | 420 |  |  | $ | 195 |  |  | $ | 416 |  |  | $ | — |
Significant noncash items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation, depletion and amortization |  |  | — |  |  |  | 122 |  |  |  | 81 |  |  |  | 168 |  |  |  | 4 |
Accrued capital expenditures |  |  | — |  |  |  | 27 |  |  |  | 41 |  |  |  | 25 |  |  |  | — |
(1) Operations associated with the Q-Pipe Group are through the December 31, 2021 closing date. (2) In November 2021, Wexpro closed on an agreement with a natural gas gathering systems operator to purchase an existing natural gas gathering system in Wyoming including pipelines, compressors and dehydration equipment for total consideration of $41 million, included in the Questar Gas Transaction.
|  | Disposition of Gas Transportation & Storage Operations |  |  | Business Review Dispositions |
Year Ended December 31, 2020 |  | GT&S Transaction(1) |  |  | Q-Pipe Group |  |  | East Ohio Transaction |  |  | PSNC Transaction |  |  | Questar Gas Transaction |  |  | Other |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 292 |  |  | $ | 38 |  |  | $ | 393 |  |  | $ | 259 |  |  | $ | 377 |  |  | $ | — |
Significant noncash items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of assets and other charges |  |  | 469 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Depreciation, depletion and amortization |  |  | 177 |  |  |  | 27 |  |  |  | 91 |  |  |  | 73 |  |  |  | 175 |  |  |  | 4 |
Accrued capital expenditures |  |  | — |  |  |  | 1 |  |  |  | 19 |  |  |  | 19 |  |  |  | 21 |  |  |  | — |
(1) Operations associated with the GT&S Transaction are through the November 1, 2020 closing date.

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