Investments

12 Months Ended

Dec. 31, 2021

NOTE 8—Investments

Investments were as follows as of December 31, 2021 and 2020:

			Gross		Gross
			Unrealized		Unrealized			Fair		Carrying
Description	Cost		Gains		Losses			Value		Value
	(in thousands)
December 31, 2021
Nuclear decommissioning trust ⁽¹⁾
Debt securities	$	84,701	$	4,052	$	—		$	88,753	$	88,753
Equity securities		92,916		94,923		(408	)		187,431		187,431
Cash and other		474		—		—			474		474
Total Nuclear Decommissioning Trust	$	178,091	$	98,975	$	(408	)	$	276,658	$	276,658

Other
Equity securities	$	157	$	55	$	—		$	212	$	212
Non-marketable equity investments		2,149		2,370		—			4,519		2,149
Total Other	$	2,306	$	2,425	$	—		$	4,731	$	2,361
										$	279,019
December 31, 2020
Nuclear decommissioning trust ⁽¹⁾
Debt securities	$	66,727	$	7,493	$	—		$	74,220	$	74,220
Equity securities		89,472		76,828		—			166,300		166,300
Cash and other		1,817		—		—			1,817		1,817
Total Nuclear Decommissioning Trust	$	158,016	$	84,321	$	—		$	242,337	$	242,337

Other
Equity securities	$	132	$	34	$	—		$	166	$	166
Non-marketable equity investments		2,145		2,340		—			4,485		2,145
Total Other	$	2,277	$	2,374	$	—		$	4,651	$	2,311
										$	244,648

⁽¹⁾

Investments in the nuclear decommissioning trust are restricted for the use of funding our share of the asset retirement obligations of the future decommissioning of North Anna. See Note 3—Accounting for Asset Retirement and Environmental Obligations. Unrealized gains and losses on investments held in the nuclear decommissioning trust are deferred as a regulatory liability or regulatory asset, respectively.

Contractual maturities of debt securities as of December 31, 2021, were as follows:

	Less than						More than
Description	1 year		1-5 years		5-10 years		10 years		Total
	(in thousands)
Other ⁽¹⁾	$	—	$	—	$	88,753	$	—	$	88,753
Total	$	—	$	—	$	88,753	$	—	$	88,753

⁽¹⁾

The contractual maturities of other debt securities are measured using the effective duration of the bond fund within the nuclear decommissioning trust.