XML 33 R23.htm IDEA: XBRL DOCUMENT
v3.25.3

Investments | 9 Months Ended
--- | ---
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Investments | Note 10. Investments Equity and Debt Securities Rabbi Trust Securities Equity and fixed income securities and cash equivalents in Dominion Energy’s rabbi trusts and classified as trading totaled $173 million and $160 million at September 30, 2025 and December 31, 2024, respectively. Decommissioning Trust Securities The Companies hold equity and fixed income securities and cash equivalents, and Dominion Energy also holds insurance contracts, in nuclear decommissioning trust funds to fund future decommissioning costs for its nuclear plants. The Companies’ decommissioning trust funds are summarized below:
|  | Dominion Energy |  |  | Virginia Power |
|  | Amortized Cost |  |  | Total Unrealized Gains |  |  | Total Unrealized Losses |  |  | Allowance for Credit Losses |  |  | Fair Value |  |  | Amortized Cost |  |  | Total Unrealized Gains |  |  | Total Unrealized Losses |  |  |  | Allowance for Credit Losses |  |  | Fair Value |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 1,257 |  |  | $ | 4,907 |  |  | $ | (3 | ) |  |  |  |  | $ | 6,161 |  |  | $ | 716 |  |  | $ | 2,546 |  |  | $ | (2 | ) |  |  |  |  |  | $ | 3,260 |
International |  |  | 51 |  |  |  | 128 |  |  |  | — |  |  |  |  |  |  | 179 |  |  |  | 32 |  |  |  | 72 |  |  |  | — |  |  |  |  |  |  |  | 104 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 496 |  |  |  | 13 |  |  |  | (7 | ) |  | $ | — |  |  |  | 502 |  |  |  | 288 |  |  |  | 6 |  |  |  | (6 | ) |  |  | $ | — |  |  |  | 288 |
Government securities |  |  | 1,802 |  |  |  | 25 |  |  |  | (21 | ) |  |  | — |  |  |  | 1,806 |  |  |  | 1,084 |  |  |  | 14 |  |  |  | (14 | ) |  |  |  | — |  |  |  | 1,084 |
Insurance contracts(3) |  |  | 247 |  |  |  | — |  |  |  | — |  |  |  |  |  |  | 247 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents and other(4) |  |  | 50 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 50 |  |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  |  | — |  |  |  | 9 |
Total |  | $ | 3,903 |  |  | $ | 5,073 |  |  | $ | (31 | ) | (5) | $ | — |  |  | $ | 8,945 |  |  | $ | 2,129 |  |  | $ | 2,638 |  |  | $ | (22 | ) | (5) |  | $ | — |  |  | $ | 4,745 |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 1,220 |  |  | $ | 4,157 |  |  | $ | (4 | ) |  |  |  |  | $ | 5,373 |  |  | $ | 695 |  |  | $ | 2,155 |  |  | $ | (3 | ) |  |  |  |  |  | $ | 2,847 |
International |  |  | 52 |  |  |  | 111 |  |  |  | — |  |  |  |  |  |  | 163 |  |  |  | 34 |  |  |  | 65 |  |  |  | — |  |  |  |  |  |  |  | 99 |
Fixed income securities:(2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt instruments |  |  | 516 |  |  |  | 6 |  |  |  | (15 | ) |  | $ | — |  |  |  | 507 |  |  |  | 303 |  |  |  | 3 |  |  |  | (12 | ) |  |  | $ | — |  |  |  | 294 |
Government securities |  |  | 1,736 |  |  |  | 7 |  |  |  | (39 | ) |  |  | — |  |  |  | 1,704 |  |  |  | 1,038 |  |  |  | 4 |  |  |  | (18 | ) |  |  |  | — |  |  |  | 1,024 |
Insurance contracts(3) |  |  | 239 |  |  |  | — |  |  |  | — |  |  |  |  |  |  | 239 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents and other(4) |  |  | 65 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 65 |  |  |  | 22 |  |  |  | — |  |  |  | — |  |  |  |  | — |  |  |  | 22 |
Total |  | $ | 3,828 |  |  | $ | 4,281 |  |  | $ | (58 | ) | (5) | $ | — |  |  | $ | 8,051 |  |  | $ | 2,092 |  |  | $ | 2,227 |  |  | $ | (33 | ) | (5) |  | $ | — |  |  | $ | 4,286 |
(1) Unrealized gains and losses on equity securities are included in other income (expense) 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 (expense). (3) Includes company owned life insurance contracts measured at cash surrender value. (4) Dominion Energy includes pending sales of securities of $17 million and $35 million at September 30, 2025 and December 31, 2024, respectively. Virginia Power includes pending sales of securities of $9 million and $22 million at September 30, 2025, and December 31, 2024, respectively. (5) Dominion Energy’s fair value of securities in an unrealized loss position was $609 million and $1.4 billion at September 30, 2025 and December 31, 2024, respectively. Virginia Power’s fair value of securities in an unrealized loss position was $460 million and $796 million at September 30, 2025 and December 31, 2024, respectively. The portion of unrealized gains and losses that relates to equity securities held within Dominion Energy and Virginia Power’s nuclear decommissioning trusts is summarized below:
| Dominion Energy |
| Quarter-to-Date |  | Year-to-Date |
Period Ended September 30, | 2025 |  | 2024 |  | 2025 |  | 2024 |
(millions) |  |  |  |  |  |  |  |
Net gains (losses) recognized during the period | $ | 458 |  | $ | 282 |  | $ | 754 |  | $ | 919 |
Less: Net (gains) losses recognized during the period on securities sold during the period |  | (1 | ) |  | 5 |  |  | 15 |  |  | 1 |
Unrealized gains (losses) recognized during the period on securities still held at period end(1) | $ | 457 |  | $ | 287 |  | $ | 769 |  | $ | 920 |
(1) Included in other income (expense) and the nuclear decommissioning trust regulatory liabilities.
﻿ | Virginia Power |
| Quarter-to-Date |  | Year-to-Date |
Period Ended September 30, | 2025 |  | 2024 |  | 2025 |  | 2024 |
(millions) |  |  |  |  |  |  |  |
Net gains (losses) recognized during the period | $ | 236 |  | $ | 145 |  | $ | 389 |  | $ | 473 |
Less: Net (gains) losses recognized during the period on securities sold during the period |  | — |  |  | 3 |  |  | 11 |  |  | (2 | )
Unrealized gains (losses) recognized during the period on securities still held at period end(1) | $ | 236 |  | $ | 148 |  | $ | 400 |  | $ | 471 |
(1) Included in other income (expense) and the nuclear decommissioning trust regulatory liabilities. The fair value of Dominion Energy and Virginia Power’s fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds at September 30, 2025 by contractual maturity is as follows:
| Dominion Energy |  | Virginia Power |
(millions) |  |  |  |
Due in one year or less | $ | 26 |  | $ | 8 |
Due after one year through five years |  | 517 |  |  | 255 |
Due after five years through ten years |  | 532 |  |  | 276 |
Due after ten years |  | 1,233 |  |  | 833 |
Total | $ | 2,308 |  | $ | 1,372 |
Presented below is selected information regarding Dominion Energy and Virginia Power’s equity and fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds.
| Dominion Energy |
| Quarter-to-Date |  | Year-to-Date |
Period Ended September 30, | 2025 |  | 2024 |  | 2025 |  | 2024 |
(millions) |  |  |  |  |  |  |  |
Proceeds from sales | $ | 869 |  | $ | 651 |  | $ | 2,563 |  | $ | 2,230 |
Realized gains(1) |  | 18 |  |  | 18 |  |  | 36 |  |  | 77 |
Realized losses(1) |  | 15 |  |  | 21 |  |  | 57 |  |  | 93 |
(1) Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liabilities.
﻿ | Virginia Power |
| Quarter-to-Date |  | Year-to-Date |
Period Ended September 30, | 2025 |  | 2024 |  | 2025 |  | 2024 |
(millions) |  |  |  |  |  |  |  |
Proceeds from sales | $ | 489 |  | $ | 297 |  | $ | 1,412 |  | $ | 1,370 |
Realized gains(1) |  | 12 |  |  | 13 |  |  | 26 |  |  | 52 |
Realized losses(1) |  | 11 |  |  | 16 |  |  | 40 |  |  | 61 |
(1) Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liabilities. Equity Method Investments Dominion Energy recorded equity earnings (losses) on its investments of $(8) million and less than $1 million for the nine months ended September 30, 2025 and 2024, respectively, in other income (expense) in its Consolidated Statements of Income. In addition, Dominion Energy recorded equity earnings (losses) of $(2) million and $(11) million for the nine months ended September 30, 2025 and 2024, respectively, in discontinued operations, including amounts primarily related to its investment in Atlantic Coast Pipeline discussed below. Dominion Energy received distributions of $4 million and $138 million for the nine months ended September 30, 2025 and 2024, respectively. Dominion Energy made contributions of $12 million and $6 million for the nine months ended September 30, 2025 and 2024, respectively. At September 30, 2025 and December 31, 2024, the net difference between the carrying amount of Dominion Energy’s investments and its share of underlying equity in net assets was $3 million and $5 million, respectively, which is primarily attributable to capitalized interest. Atlantic Coast Pipeline A description of Dominion Energy’s investment in Atlantic Coast Pipeline, including events that led to the cancellation of the Atlantic Coast Pipeline Project in July 2020, is included in Note 9 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024. Dominion Energy recorded equity losses related to Atlantic Coast Pipeline of less than $1 million for both the three months ended September 30, 2025 and 2024, and $2 million and $12 million for the nine months ended September 30, 2025 and 2024, respectively, in discontinued operations. At September 30, 2025 and December 31, 2024, Dominion Energy has recorded a liability of $2 million and $7 million, respectively, in other current liabilities in its Consolidated Balance Sheets as a result of its share of equity losses exceeding its investment which reflects Dominion Energy’s obligations on behalf of Atlantic Coast Pipeline related to its AROs. Dominion Energy expects it could incur additional losses from Atlantic Coast Pipeline as it completes wind-down activities. While Dominion Energy is unable to precisely estimate the amounts to be incurred by Atlantic Coast Pipeline, the portion of such amounts attributable to Dominion Energy is not expected to be material to Dominion Energy’s results of operations, financial position or statement of cash flows. Dominion Privatization In February 2024, Dominion Energy received a distribution of $126 million from Dominion Privatization, which was accounted for as a return of an investment.

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

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/940-320/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph b -Publisher SEC Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-10 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/942-320/tableOfContent + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration