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Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Schedule of Changes in AOCI Net of Tax and Reclassifications out of AOCI by Component

The following table presents Dominion Energy’s changes in AOCI (net of tax) and reclassifications out of AOCI by component:

 

 

Total
Derivative-
Hedging
Activities(1)(2)

 

 

Investment
Securities(3)

 

 

Pension and
other
postretirement
benefit costs(4)(5)

 

 

Equity
Method
Investees(6)

 

 

Total

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

(216

)

 

$

—

 

 

$

43

 

 

 

 

 

$

(173

)

Other comprehensive income
   before reclassifications:
   gains (losses)

 

 

13

 

 

 

(22

)

 

 

(2

)

 

 

 

 

 

(11

)

Amounts reclassified from AOCI (gains) losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and related
   charges

 

 

43

 

 

 

 

 

 

 

 

 

 

 

 

43

 

Other income (expense)

 

 

—

 

 

 

11

 

 

 

(16

)

 

 

 

 

 

(5

)

Total

 

 

43

 

 

 

11

 

 

 

(16

)

 

 

 

 

 

38

 

Income tax expense (benefit)

 

 

(11

)

 

 

(3

)

 

 

4

 

 

 

 

 

 

(10

)

Total, net of tax

 

 

32

 

 

 

8

 

 

 

(12

)

 

 

 

 

 

28

 

Net current period other
   comprehensive income (loss)

 

 

45

 

 

 

(14

)

 

 

(14

)

 

 

 

 

 

17

 

Ending balance

 

$

(171

)

 

$

(14

)

 

$

29

 

 

 

 

 

$

(156

)

Year Ended December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

(249

)

 

$

(44

)

 

$

56

 

 

$

(3

)

 

$

(240

)

Other comprehensive income
   before reclassifications:
   gains (losses)

 

 

—

 

 

 

55

 

 

 

—

 

 

 

—

 

 

 

55

 

Amounts reclassified from AOCI (gains) losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and related
   charges

 

 

43

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

43

 

Other income (expense)

 

 

—

 

 

 

(14

)

 

 

(18

)

 

 

—

 

 

 

(32

)

Discontinued operations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4

 

 

 

4

 

Total

 

 

43

 

 

 

(14

)

 

 

(18

)

 

 

4

 

 

 

15

 

Income tax expense (benefit)

 

 

(10

)

 

 

3

 

 

 

5

 

 

 

(1

)

 

 

(3

)

Total, net of tax

 

 

33

 

 

 

(11

)

 

 

(13

)

 

 

3

 

 

 

12

 

Net current period other
   comprehensive income (loss)

 

 

33

 

 

 

44

 

 

 

(13

)

 

 

3

 

 

 

67

 

Ending balance

 

$

(216

)

 

$

—

 

 

$

43

 

 

$

—

 

 

$

(173

)
(1)
Comprised entirely of interest rate derivative hedging activities.
(2)
Net of $58 million, $73 million and $83 million tax at December 31, 2024, 2023 and 2022, respectively.
(3)
Net of $5 million, $(2) million and $13 million tax at December 31, 2024, 2023 and 2022, respectively.
(4)
Comprised entirely of prior service cost. See Note 22 for additional information.
(5)
Net of $(9) million, $(14) million and $(19) million tax at December 31, 2024, 2023 and 2022, respectively.
(6)
Net of $— million and $1 million tax at December 31, 2023 and 2022, respectively.
Summary of Restricted Stock Activity The following table provides a summary of restricted stock activity for the years ended December 31, 2024, 2023 and 2022:

 

 

 

Shares (millions)

 

 

Weighted-average Grant Date Fair Value

 

Nonvested at December 31, 2021

 

1.3

 

 

$

76.65

 

Granted

 

0.6

 

 

 

75.08

 

Vested

 

(0.4

)

 

 

77.87

 

Cancelled and forfeited

 

(0.1

)

 

 

73.15

 

Nonvested at December 31, 2022

 

1.4

 

 

$

75.56

 

Granted

 

1.0

 

 

 

48.99

 

Vested

 

(0.4

)

 

 

79.89

 

Cancelled and forfeited

 

(0.1

)

 

 

53.36

 

Nonvested at December 31, 2023

 

1.9

 

 

$

61.34

 

Granted

 

0.7

 

 

 

55.58

 

Vested

 

(0.5

)

 

 

71.05

 

Cancelled and forfeited

 

(0.2

)

 

 

43.13

 

Nonvested at December 31, 2024

 

1.9

 

 

$

57.10

 
Virginia Electric and Power Company  
Schedule of Changes in AOCI Net of Tax and Reclassifications out of AOCI by Component

The following table presents Virginia Power’s changes in AOCI (net of tax) and reclassification out of AOCI by component:

 

 

Total Derivative-
Hedging Activities(1)(2)

 

 

Investment
Securities(3)

 

 

Total

 

(millions)

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2024

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

15

 

 

$

1

 

 

$

16

 

Other comprehensive income before
   reclassifications: gains (losses)

 

 

13

 

 

 

(5

)

 

 

8

 

Amounts reclassified from AOCI (gains) losses:

 

 

 

 

 

 

 

 

 

     Other income (expense)

 

 

—

 

 

 

4

 

 

 

4

 

Total

 

 

—

 

 

 

4

 

 

 

4

 

Income tax expense (benefit)

 

 

—

 

 

 

(1

)

 

 

(1

)

Total, net of tax

 

 

—

 

 

 

3

 

 

 

3

 

Net current period other comprehensive
   income (loss)

 

 

13

 

 

 

(2

)

 

 

11

 

Ending balance

 

$

28

 

 

$

(1

)

 

$

27

 

Year Ended December 31, 2023

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

16

 

 

$

(7

)

 

$

9

 

Other comprehensive income before
   reclassifications: gains (losses)

 

 

(1

)

 

 

7

 

 

 

6

 

Amounts reclassified from AOCI (gains) losses:

 

 

 

 

 

 

 

 

 

Interest and related charges

 

 

1

 

 

 

—

 

 

 

1

 

Other income (expense)

 

 

—

 

 

 

1

 

 

 

1

 

Total

 

 

1

 

 

 

1

 

 

 

2

 

Income tax expense (benefit)

 

 

(1

)

 

 

—

 

 

 

(1

)

Total, net of tax

 

 

—

 

 

 

1

 

 

 

1

 

Net current period other comprehensive
   income (loss)

 

 

(1

)

 

 

8

 

 

 

7

 

Ending balance

 

$

15

 

 

$

1

 

 

$

16

 
(1)
Comprised entirely of interest rate derivative hedging activities.
(2)
Net of $(10) million, $(5) million and $(5) million tax at December 31, 2024, 2023 and 2022, respectively.
(3)
Net of $— million, $— million and $2 million tax at December 31, 2024, 2023 and 2022, respectively.