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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | NOTE 11. GOODWILL AND INTANGIBLE ASSETS Goodwill The changes in Dominion Energy’s carrying amount and segment allocation of goodwill are presented below:
|  | Dominion Energy Virginia |  |  | Dominion Energy South Carolina |  |  | Contracted Energy |  |  | Corporate and Other |  |  | Total |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dominion Energy |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2021(1) |  | $ | 2,106 |  |  | $ | 1,521 |  |  | $ | 516 |  |  | $ | 110 |  |  | $ | 4,253 |
Sale of Hope(2) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (110 | ) |  |  | (110 | )
Balance at December 31, 2022(1) |  | $ | 2,106 |  |  | $ | 1,521 |  |  | $ | 516 |  |  | $ | — |  |  | $ | 4,143 |
No events affecting goodwill |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at December 31, 2023(1) |  | $ | 2,106 |  |  | $ | 1,521 |  |  | $ | 516 |  |  | $ | — |  |  | $ | 4,143 |
(1) Goodwill amounts do not contain any accumulated impairment losses. (2) See Note 3 for additional information. Other Intangible Assets The Companies’ other intangible assets are subject to amortization over their estimated useful lives. Dominion Energy’s amortization expense for intangible assets was $160 million, $103 million and $70 million for the years ended December 31, 2023, 2022 and 2021, respectively. In 2023, Dominion Energy acquired $642 million of intangible assets, primarily representing RGGI allowances and software, with an estimated weighted-average amortization period of approximately 6 years. Amortization expense for Virginia Power’s intangible assets was $123 million, $67 million and $31 million for the years ended December 31, 2023, 2022 and 2021, respectively. In 2023, Virginia Power acquired $583 million of intangible assets, primarily representing RGGI allowances and software, with an estimated weighted-average amortization period of 5 years. The components of intangible assets are as follows:
|  | 2023 |  |  | 2022 |
At December 31, |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |
(millions) |  |  |  |  |  |  |  |  |  |  |  |
Dominion Energy |  |  |  |  |  |  |  |  |  |  |  |
Software, licenses and other(1) |  | $ | 2,185 |  |  | $ | 1,240 |  |  | $ | 1,723 |  |  | $ | 927 |
Virginia Power |  |  |  |  |  |  |  |  |  |  |  |
Software, licenses and other(1) |  | $ | 1,509 |  |  | $ | 856 |  |  | $ | 1,113 |  |  | $ | 577 |
(1) Includes $198 million and $253 million of RGGI allowances purchased and consumed in 2023 and 2022, respectively, with deferral to a regulatory asset. Annual amortization expense for these intangible assets is estimated to be as follows:
|  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 |
(millions) |  |  |  |  |  |  |  |  |  |  |
Dominion Energy |  | $ | 81 |  | $ | 74 |  | $ | 63 |  | $ | 47 |  | $ | 36 |
Virginia Power |  | $ | 49 |  | $ | 45 |  | $ | 38 |  | $ | 29 |  | $ | 22 |

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