Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

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		Gas Distribution		Dominion Energy South Carolina		Contracted Assets		Corporate and Other			Total
(millions)
Dominion Energy
Balance at December 31, 2019(1)	$	2,106	$	3,512	$	1,521	$	242	$	14		$	7,395
Contribution to Wrangler(2)		—		—		—		—		(14	)		(14	)
Balance at December 31, 2020(1)	$	2,106	$	3,512	$	1,521	$	242	$	—		$	7,381
Acquisition of Birdseye (3)		—		—		—		24		—			24
Balance at December 31, 2021(1)	$	2,106	$	3,512	$	1,521	$	266	$	—		$	7,405

(1) Goodwill amounts do not contain any accumulated impairment losses. 

(2) See Note 9 for additional information including amounts reclassified to held for sale at December 31, 2020.

(3) See Note 3 for more information.

Other Intangible Assets

The Companies’ other intangible assets are subject to amortization over their estimated useful lives. Dominion Energy’s amortization expense for intangible assets was $79 million, $69 million and $95 million for 2021, 2020 and 2019, respectively. In 2021, Dominion Energy acquired $311 million of intangible assets, primarily representing RGGI allowances and software, with an estimated weighted-average amortization period of approximately 7 years. Amortization expense for Virginia Power’s intangible assets was $31 million, $28 million and $30 million for 2021, 2020 and 2019, respectively. In 2021, Virginia Power acquired $276 million of intangible assets, primarily representing RGGI allowances and software, with an estimated weighted-average amortization period of 7 years.

The components of intangible assets are as follows:

	2021				2020
At December 31,	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
(millions)
Dominion Energy
Software, licenses and other(1)	$	1,459	$	675	$	1,295	$	530
Virginia Power
Software, licenses and other(1)	$	685	$	290	$	482	$	148

(1) Includes $158M of RGGI allowances purchased and consumed in 2021, with deferral to a regulatory asset.

Annual amortization expense for these intangible assets is estimated to be as follows:

	2022		2023		2024		2025		2026
(millions)
Dominion Energy	$	72	$	58	$	50	$	42	$	28
Virginia Power	$	29	$	23	$	20	$	16	$	9