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Investments (Tables)
 3 Months Ended
Mar. 31, 2025
Equity and Debt Securities and Cash Equivalents and Cost Method Investments in Decommissioning Trust Funds 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)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities:(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

$

1,234

 

 

$

3,927

 

 

$

(5

)

 

 

 

 

$

5,156

 

 

$

704

 

 

$

2,038

 

 

$

(4

)

 

 

 

 

 

$

2,738

 

International

 

 

51

 

 

 

109

 

 

 

—

 

 

 

 

 

 

160

 

 

 

33

 

 

 

65

 

 

 

—

 

 

 

 

 

 

 

98

 

Fixed income securities:(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt
   instruments

 

 

516

 

 

 

8

 

 

 

(12

)

 

$

—

 

 

 

512

 

 

 

305

 

 

 

3

 

 

 

(9

)

 

 

$

—

 

 

 

299

 

Government
   securities

 

 

1,765

 

 

 

20

 

 

 

(28

)

 

 

—

 

 

 

1,757

 

 

 

1,057

 

 

 

11

 

 

 

(16

)

 

 

 

—

 

 

 

1,052

 

Insurance
   contracts(3)

 

 

239

 

 

 

—

 

 

 

—

 

 

 

 

 

 

239

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents
   and other(4)

 

 

55

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

55

 

 

 

13

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

13

 

Total

 

$

3,860

 

 

$

4,064

 

 

$

(45

)

(5)

$

—

 

 

$

7,879

 

 

$

2,112

 

 

$

2,117

 

 

$

(29

)

(5)

 

$

—

 

 

$

4,200

 

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 $25 million and $35 million at March 31, 2025 and December 31, 2024, respectively. Virginia Power includes pending sales of securities of $13 million and $22 million at March 31, 2025, and December 31, 2024, respectively.
(5)
Dominion Energy’s fair value of securities in an unrealized loss position was $779 million and $1.4 billion at March 31, 2025 and December 31, 2024, respectively. Virginia Power’s fair value of securities in an unrealized loss position was $481 million and $796 million at March 31, 2025 and December 31, 2024, respectively.
Unrealized Gain Loss on Equity

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

 

 

Virginia Power

 

 

Three Months Ended March 31,

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gains (losses) recognized
   during the period

 

$

(239

)

 

$

459

 

 

$

(121

)

 

$

242

 

 

Less: Net (gains) losses recognized
   during the period on securities
   sold during the period

 

 

6

 

 

 

(10

)

 

 

4

 

 

 

(9

)

 

Unrealized gains (losses) recognized
   during the period on securities still
   held at period end(1)

 

$

(233

)

 

$

449

 

 

$

(117

)

 

$

233

 

 

 

(1)
Included in other income (expense) and the nuclear decommissioning trust regulatory liability.
Investments Classified by Contractual Maturity Date

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 March 31, 2025 by contractual maturity is as follows:

 

 

 

Dominion Energy

 

 

Virginia Power

 

(millions)

 

 

 

 

 

 

Due in one year or less

 

$

29

 

 

$

19

 

Due after one year through five years

 

 

590

 

 

 

314

 

Due after five years through ten years

 

 

382

 

 

 

172

 

Due after ten years

 

 

1,268

 

 

 

847

 

Total

 

$

2,269

 

 

$

1,352

 
Marketable Securities

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

 

 

Virginia Power

 

Three Months Ended March 31,

 

2025

 

 

2024

 

 

2025

 

 

2024

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

Proceeds from sales

 

$

931

 

 

$

695

 

 

$

568

 

 

$

471

 

Realized gains(1)

 

 

11

 

 

 

32

 

 

 

9

 

 

 

23

 

Realized losses(1)

 

 

20

 

 

 

38

 

 

 

15

 

 

 

23

 

 

(1)
Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.