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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2024
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, 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 |
No events affecting goodwill |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at December 31, 2024(1) |  | $ | 2,106 |  |  | $ | 1,521 |  |  | $ | 516 |  |  | $ | — |  |  | $ | 4,143 |
(1) Goodwill amounts do not contain any accumulated impairment losses. Other Intangible Assets The Companies’ other intangible assets are subject to amortization over their estimated useful lives. Dominion Energy’s amortization expense for software, licenses and other intangible assets was $87 million, $160 million and $103 million for the years ended December 31, 2024, 2023 and 2022, respectively. In 2024, Dominion Energy acquired $675 million of intangible assets, primarily representing renewable energy credits and software, with an estimated weighted-average amortization period of approximately 7 years. Amortization expense for Virginia Power’s software, licenses and other intangible assets was $51 million, $123 million and $67 million for the years ended December 31, 2024, 2023 and 2022, respectively. In 2024, Virginia Power acquired $605 million of intangible assets, primarily representing renewable energy credits and software, with an estimated weighted-average amortization period of 6 years. The components of intangible assets are as follows:
|  | 2024 |  |  | 2023 |
At December 31, |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |
(millions) |  |  |  |  |  |  |  |  |  |  |  |
Dominion Energy |  |  |  |  |  |  |  |  |  |  |  |
Software, licenses and other |  | $ | 1,645 |  |  | $ | 708 |  |  | $ | 1,477 |  |  | $ | 627 |
Renewable energy credits and RGGI allowances(1) |  |  | 199 |  |  |  | — |  |  |  | 708 |  |  |  | 613 |
Virginia Power |  |  |  |  |  |  |  |  |  |  |  |
Software, licenses and other |  | $ | 911 |  |  | $ | 291 |  |  | $ | 802 |  |  | $ | 243 |
Renewable energy credits and RGGI allowances(1) |  |  | 198 |  |  |  | — |  |  |  | 707 |  |  |  | 613 |
(1) Includes $370 million and $209 million of renewable energy credits consumed and retired in 2024 and 2023, respectively. In addition, balances at December 31, 2023 includes $613 million of RGGI allowances consumed, including $198 million purchased and consumed in 2023, all of which were retired in 2024. All amounts for renewable energy credits and RGGI allowances were deferred to regulatory assets upon consumption. Annual amortization expense for intangible assets, excluding renewable energy credits and RGGI allowances which are deferred to regulatory assets, is estimated to be as follows:
|  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 |  |  | 2029 |
(millions) |  |  |  |  |  |  |  |  |  |  |
Dominion Energy |  | $ | 84 |  | $ | 75 |  | $ | 64 |  | $ | 51 |  | $ | 39 |
Virginia Power |  | $ | 54 |  | $ | 49 |  | $ | 43 |  | $ | 33 |  | $ | 26 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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