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Earnings Per Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 8. EARNINGS PER SHARE

The following table presents the calculation of Dominion Energy’s basic and diluted EPS:

 

 

 

2024

 

 

2023

 

 

2022

 

(millions, except EPS)

 

 

 

 

 

 

 

 

 

Net income attributable to Dominion Energy from
   continuing operations

 

$

1,927

 

 

$

2,156

 

 

$

269

 

Preferred stock dividends (See Note 19)

 

 

(68

)

 

 

(81

)

 

 

(93

)

Preferred stock deemed dividends (See Note 19)

 

 

(10

)

 

 

—

 

 

 

—

 

Net income attributable to Dominion Energy from continuing operations - Basic

 

 

1,849

 

 

 

2,075

 

 

 

176

 

Dilutive effect of 2019 Equity Units(1)

 

 

—

 

 

 

—

 

 

 

—

 

Net income attributable to Dominion Energy from continuing operations - Diluted

 

 

1,849

 

 

 

2,075

 

 

 

176

 

Net income (loss) attributable to Dominion Energy from discontinued operations -
    Basic & Diluted

 

$

197

 

 

$

(125

)

 

$

922

 

Average shares of common stock outstanding – Basic

 

 

839.2

 

 

 

836.4

 

 

 

823.9

 

Net effect of dilutive securities(2)

 

 

0.2

 

 

 

0.1

 

 

 

0.9

 

Average shares of common stock outstanding – Diluted

 

 

839.4

 

 

 

836.5

 

 

 

824.8

 

EPS from continuing operations - Basic

 

$

2.20

 

 

$

2.48

 

 

$

0.22

 

EPS from discontinued operations - Basic

 

 

0.24

 

 

 

(0.15

)

 

 

1.11

 

EPS attributable to Dominion Energy - Basic

 

$

2.44

 

 

$

2.33

 

 

$

1.33

 

EPS from continuing operations - Diluted

 

$

2.20

 

 

$

2.48

 

 

$

0.22

 

EPS from discontinued operations - Diluted

 

 

0.24

 

 

 

(0.15

)

 

 

1.11

 

EPS attributable to Dominion Energy - Diluted

 

$

2.44

 

 

$

2.33

 

 

$

1.33

 

 

(1)
As discussed in Note 19, effective in June 2022 through its redemption in September 2022, the Series A Preferred Stock was considered to be mandatorily redeemable and was classified in current liabilities.
(2)
Dilutive securities for 2024 consists of certain of the forward sales agreements entered into in 2024 with certain of these securities settling in 2024 (applying the treasury stock method). Dilutive securities for 2023 and 2022 consist primarily of stock potentially to be issued to satisfy the obligation under a settlement agreement with the SCDOR (applying the if converted method). Additionally, in 2022, dilutive securities include forward sales agreements entered into in November 2021 and settled in December 2022 (applying the treasury stock method). See Notes 20 and 23 for additional information.

Certain of the forward sales agreements entered into in 2024 were potentially dilutive securities but were excluded from the calculation of diluted EPS from continuing operations for the year ended December 31, 2024 as the dilutive stock price threshold was not met. The 2019 Equity Units, prior to settlement in June 2022, were potentially dilutive instruments. See Note 19 for additional information.