RICHMOND, Va., Aug. 6, 2021 /PRNewswire/ -- Dominion Energy
(NYSE: D) today announced an unaudited net income determined in
accordance with Generally Accepted Accounting Principles (reported
earnings) for the three months ended June
30, 2021, of $285 million
($0.33 per share) compared with a net
loss of $1.2 billion ($1.52 per share) for the same period in
2020.
Operating earnings for the three months ended June 30, 2021, were $628
million ($0.76 per share),
compared to operating earnings of $630
million ($0.73 per share) for
the same period in 2020.
GAAP earnings for the three months ended June 30, 2021, relative to operating earnings
reflect the mark-to-market impact of economic hedging activities,
unrealized changes in the value of our nuclear decommissioning
trust fund, the contribution from Questar Pipelines, which will
continue to be accounted for as discontinued operations until
divested, and other adjustments.
Operating earnings are defined as reported earnings adjusted for
certain items. Details of operating earnings as compared to
prior periods, business segment results and detailed descriptions
of items included in reported earnings but excluded from operating
earnings can be found on Schedules 1, 2, 3 and 4 of this
release.
Guidance
Third-quarter 2021 operating earnings are
expected to be in the range of $0.95
to $1.10 per share.
The company affirms its full-year 2021 operating earnings
guidance range of $3.70 to
$4.00 per share. The company also
affirms its long-term earnings and dividend growth guidance.
Webcast today
The company will host its second-quarter
2021 earnings call at 10 a.m. ET on
Friday, Aug. 6, 2021. Management will discuss matters
of interest to financial and other stakeholders including recent
financial results.
A live webcast of the conference call, including accompanying
slides and other financial information, will be available on the
investor information pages at investors.dominionenergy.com.
For individuals that prefer to join via telephone, domestic
callers should dial 1-800-341-6228 and international callers should
dial 1-334-777-6993. The passcode for the telephonic earnings
call is 43821473#. Participants should dial in 10 to 15
minutes prior to the scheduled start time.
A replay of the webcast will be available on the investor
information pages by the end of the day Aug. 6. A telephonic
replay of the earnings call will be available beginning at about
1 p.m. ET on Aug. 6. Domestic
callers may access the recording by dialing 1-877-919-4059.
International callers should dial 1-334-323-0140. The PIN for
the replay is 13838200.
Important note to investors regarding operating, reported
earnings
Dominion Energy uses operating earnings as the
primary performance measurement of its earnings guidance and
results for public communications with analysts and
investors. Dominion Energy also uses operating earnings
internally for budgeting, for reporting to the Board of Directors,
for the company's incentive compensation plans and for its targeted
dividend payouts and other purposes. Dominion Energy management
believes operating earnings provide a more meaningful
representation of the company's fundamental earnings power.
In providing its operating earnings guidance, the company notes
that there could be differences between expected reported earnings
and estimated operating earnings for matters such as, but not
limited to, acquisitions, divestitures or extreme weather events
and other natural disasters. At this time, Dominion Energy
management is not able to estimate the aggregate impact of these
items on future period reported earnings.
About Dominion Energy
More than 7 million customers in
16 states energize their homes and businesses with electricity or
natural gas from Dominion Energy (NYSE: D), headquartered
in Richmond, Va. The company is committed to sustainable, reliable,
affordable and safe energy and to achieving net zero carbon dioxide
and methane emissions from its power generation and gas
infrastructure operations by 2050. Please visit
DominionEnergy.com to learn more.
This release contains certain forward-looking statements,
including forecasted operating earnings third-quarter and full-year
2021 and beyond which are subject to various risks and
uncertainties. Factors that could cause actual results to differ
include, but are not limited to: unusual weather conditions and
their effect on energy sales to customers and energy commodity
prices; extreme weather events and other natural disasters;
extraordinary external events, such as the current pandemic health
event resulting from COVID-19; federal, state and local legislative
and regulatory developments; changes to regulated rates collected
by Dominion Energy; timing and receipt of regulatory approvals
necessary for planned construction or expansion projects and
compliance with conditions associated with such regulatory
approvals; the inability to complete planned construction projects
within time frames initially anticipated; changes to federal, state
and local environmental laws and regulations, including those
related to climate change; cost of environmental compliance;
changes in implementation and enforcement practices of regulators
relating to environmental standards and litigation exposure for
remedial activities; changes in operating, maintenance and
construction costs; additional competition in Dominion Energy's
industries; changes in demand for Dominion Energy's services;
receipt of approvals for, and timing of, closing dates for
acquisitions and divestitures; impacts of acquisitions,
divestitures, transfers of assets by Dominion Energy to joint
ventures, and retirements of assets based on asset portfolio
reviews; the expected timing and likelihood of the sale of Dominion
Energy Questar Pipeline and the sale of Kewaunee, including the
ability to obtain the requisite regulatory approvals and the terms
and conditions of such regulatory approvals; adverse outcomes in
litigation matters or regulatory proceedings; fluctuations in
interest rates; changes in rating agency requirements or credit
ratings and their effect on availability and cost of capital; and
capital market conditions, including the availability of credit and
the ability to obtain financing on reasonable terms. Other
risk factors are detailed from time to time in Dominion Energy's
quarterly reports on Form 10-Q and most recent annual report on
Form 10-K filed with the Securities and Exchange
Commission.
Dominion Energy,
Inc.
|
Consolidated
Statements of Income*
|
Unaudited (GAAP
Based)
|
(millions, except
per share amounts)
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
June
30,
|
|
June
30,
|
|
2021
|
2020
|
|
2021
|
2020
|
|
|
|
|
|
|
Operating
Revenue
|
$
3,038
|
$
3,106
|
|
$
6,908
|
$
7,044
|
|
|
|
|
|
|
Operating
Expenses
|
|
|
|
|
|
Electric fuel and
other energy-related purchases
|
487
|
507
|
|
1,037
|
1,164
|
Purchased electric
capacity
|
25
|
11
|
|
36
|
13
|
Purchased
gas
|
121
|
90
|
|
605
|
524
|
Other operations and
maintenance1
|
1,216
|
896
|
|
2,298
|
2,555
|
Depreciation,
depletion and amortization
|
604
|
578
|
|
1,212
|
1,156
|
Other
taxes
|
222
|
220
|
|
479
|
460
|
Total
operating expenses
|
2,675
|
2,302
|
|
5,667
|
5,872
|
|
|
|
|
|
|
Income from
operations
|
363
|
804
|
|
1,241
|
1,172
|
|
|
|
|
|
|
Other
income2
|
377
|
500
|
|
744
|
46
|
Interest and related
charges
|
518
|
398
|
|
571
|
830
|
Income from
continuing operations including noncontrolling
|
|
|
|
|
|
interests before income tax expense (benefit)
|
222
|
906
|
|
1,414
|
388
|
|
|
|
|
|
|
Income tax expense
(benefit)
|
(47)
|
37
|
|
165
|
(13)
|
|
|
|
|
|
|
Net Income from
continuing operations including noncontrolling
interests
|
269
|
869
|
|
1,249
|
401
|
|
|
|
|
|
|
Net Income (Loss)
from discontinued operations including noncontrolling
interests
|
26
|
(2,001)
|
|
54
|
(1,772)
|
|
|
|
|
|
|
Net Income (loss)
including noncontrolling interests
|
$
295
|
$(1,132)
|
|
$
1,303
|
$(1,371)
|
Noncontrolling
interests
|
10
|
37
|
|
10
|
68
|
|
|
|
|
|
|
Net Income (loss)
attributable to Dominion Energy
|
$ 285
|
$(1,169)
|
|
$ 1,293
|
$(1,439)
|
|
|
|
|
|
|
Reported Income per
common share from continuing operations - diluted
|
$
0.30
|
$
0.90
|
|
$
1.49
|
$
0.35
|
Reported Income
(Loss) per common share from discontinued operations -
diluted
|
0.03
|
(2.42)
|
|
0.07
|
(2.18)
|
Reported Income
(loss) per common share - diluted
|
$
0.33
|
$
(1.52)
|
|
$
1.56
|
$
(1.83)
|
Average shares
outstanding, diluted
|
806.6
|
839.4
|
|
806.3
|
838.8
|
|
|
1)
|
Includes impairment
of assets and other charges.
|
2)
|
Includes earnings
from equity method investees.
|
*
|
The notes contained
in Dominion Energy's most recent quarterly report on Form 10-Q or
annual report on Form 10-K are an integral part of the Consolidated
Financial Statements.
|
Schedule 1 -
Segment Reported and Operating Earnings
|
|
Unaudited
|
|
|
|
|
|
(millions, except
per share amounts)
|
Three months ended
June 30,
|
|
|
2021
|
|
2020
|
|
Change
|
|
|
|
|
|
|
|
REPORTED
EARNINGS1
|
$
285
|
|
$(1,169)
|
|
$
1,454
|
|
|
|
|
|
|
|
|
Pre-tax loss
(income)2
|
474
|
|
2,448
|
|
(1,974)
|
|
Income
tax2
|
(131)
|
|
(649)
|
|
518
|
Adjustments to
reported earnings
|
343
|
|
1,799
|
|
(1,456)
|
|
|
|
|
|
|
|
OPERATING
EARNINGS
|
$
628
|
|
$
630
|
|
$
(2)
|
|
By
segment:
|
|
|
|
|
|
|
Dominion Energy
Virginia
|
431
|
|
437
|
|
(6)
|
|
Gas
Distribution
|
95
|
|
87
|
|
8
|
|
Dominion Energy South
Carolina
|
84
|
|
75
|
|
9
|
|
Contracted
Assets
|
104
|
|
72
|
|
32
|
|
Corporate and
Other
|
(86)
|
|
(41)
|
|
(45)
|
|
|
$
628
|
|
$
630
|
|
$
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(EPS):3
|
|
|
|
|
|
REPORTED EARNINGS
1
|
$
0.33
|
|
$
(1.52)
|
|
$
1.85
|
Adjustments to
reported earnings (after tax)
|
0.43
|
|
2.25
|
|
(1.82)
|
OPERATING
EARNINGS
|
$
0.76
|
|
$
0.73
|
|
$
0.03
|
|
By
segment:
|
|
|
|
|
|
|
Dominion Energy
Virginia
|
0.53
|
|
0.52
|
|
0.01
|
|
Gas
Distribution
|
0.12
|
|
0.10
|
|
0.02
|
|
Dominion Energy South
Carolina
|
0.10
|
|
0.09
|
|
0.01
|
|
Contracted
Assets
|
0.13
|
|
0.09
|
|
0.04
|
|
Corporate and
Other
|
(0.12)
|
|
(0.07)
|
|
(0.05)
|
|
|
$
0.76
|
|
$
0.73
|
|
$
0.03
|
|
|
|
|
|
|
|
Common Shares
Outstanding (average, diluted)
|
806.6
|
|
839.4
|
|
|
|
|
|
|
|
|
|
(millions, except
earnings per share)
|
Six months ended
June 30,
|
|
|
2021
|
|
2020
|
|
Change
|
|
|
|
|
|
|
|
REPORTED
EARNINGS1
|
$
1,293
|
|
$(1,439)
|
|
$
2,732
|
|
|
|
|
|
|
|
|
Pre-tax loss
(income)2
|
322
|
|
3,713
|
|
(3,391)
|
|
Income
tax2
|
(94)
|
|
(856)
|
|
762
|
Adjustments to
reported earnings
|
228
|
|
2,857
|
|
(2,629)
|
|
|
|
|
|
|
|
OPERATING
EARNINGS
|
$
1,521
|
|
$
1,418
|
|
$
103
|
|
By
segment:
|
|
|
|
|
|
|
Dominion Energy
Virginia
|
865
|
|
866
|
|
(1)
|
|
Gas
Distribution
|
346
|
|
311
|
|
35
|
|
Dominion Energy South
Carolina
|
186
|
|
169
|
|
17
|
|
Contracted
Assets
|
254
|
|
183
|
|
71
|
|
Corporate and
Other
|
(130)
|
|
(111)
|
|
(19)
|
|
|
$
1,521
|
|
$
1,418
|
|
$
103
|
|
|
|
|
|
|
|
Earnings Per Share
(EPS):3
|
|
|
|
|
|
REPORTED
EARNINGS1
|
$
1.56
|
|
$
(1.83)
|
|
$
3.39
|
Adjustments to
reported earnings (after tax)
|
0.28
|
|
3.48
|
|
(3.20)
|
OPERATING
EARNINGS
|
$
1.84
|
|
$
1.65
|
|
$
0.19
|
|
By
segment:
|
|
|
|
|
|
|
Dominion Energy
Virginia
|
1.07
|
|
1.03
|
|
0.04
|
|
Gas
Distribution
|
0.43
|
|
0.37
|
|
0.06
|
|
Dominion Energy South
Carolina
|
0.23
|
|
0.20
|
|
0.03
|
|
Contracted
Assets
|
0.31
|
|
0.22
|
|
0.09
|
|
Corporate and
Other
|
(0.20)
|
|
(0.17)
|
|
(0.03)
|
|
|
$
1.84
|
|
$
1.65
|
|
$
0.19
|
|
|
|
|
|
|
|
Common Shares
Outstanding (average, diluted)
|
806.3
|
|
838.8
|
|
|
|
|
1)
|
Determined in
accordance with Generally Accepted Accounting Principles
(GAAP).
|
2)
|
Adjustments to
reported earnings are included in Corporate and Other segment
reported GAAP earnings. Refer to Schedules 2 and 3 for
details, or find "GAAP Reconciliation" in the Earnings Release Kit on
Dominion Energy's website at
investors.dominionenergy.com.
|
3)
|
The calculation of
operating earnings per share excludes the impact, if any, of fair
value adjustments related to the Company's convertible
preferred securities entered in
June 2019. Such fair value adjustments, if any, are required for
the calculation of diluted reported earnings per share. No
adjustments were necessary for the
three months and six months ended June 30, 2021. For the three
months and six months ended June 30, 2020, the fair value
adjustments required for diluted
reported earnings per share were $92 million and $64 million,
respectively. During each quarter, the calculation of reported and
operating earnings per share
includes the impact of preferred dividends of $7 million associated
with the Series A preferred stock equity units entered in June 2019
and $9 million associated
with the Series B preferred stock equity units entered in December
2019. See Forms 10-Q and 10-K for additional
information.
|
Schedule 2 - Reconciliation of 2021 Reported Earnings to
Operating Earnings
2021 Earnings (Six months ended June
30, 2021)
The $322 million pre-tax net
effect of the adjustments included in 2021 reported earnings, but
excluded from operating earnings, is primarily related to the
following items:
- $378 million of regulated other
charges, including $266 million
associated with the settlement of the South Carolina electric rate case, primarily
for the write-off of regulatory assets for debt repurchased in
2019, and $77 million for forgiveness
of Virginia customer accounts in arrears pursuant to Virginia's
2021 budget process.
- $315 million net market benefit
associated with nuclear decommissioning trusts and economic hedging
activities.
- $119 million of merger and
integration-related costs associated with the SCANA Combination,
primarily for litigation charges.
- $71 million charge for corporate
office lease termination associated with workplace
realignment.
- $68 million of storm damage and
restoration costs associated with ice storms in Virginia Power's service territory, including
additional costs in the second quarter of 2021.
|
(millions,
except per share amounts)
|
1Q21
|
2Q21
|
3Q21
|
4Q21
|
YTD 2021
3
|
Reported
earnings
|
$1,008
|
$285
|
$0
|
$0
|
$1,293
|
Adjustments to
reported earnings 1:
|
|
|
|
|
|
Pre-tax loss (income)
|
(152)
|
474
|
0
|
0
|
322
|
Income tax
|
37
|
(131)
|
0
|
0
|
(94)
|
|
(115)
|
343
|
0
|
0
|
228
|
Operating
earnings
|
$893
|
$628
|
$0
|
$0
|
$1,521
|
Common shares
outstanding (average, diluted)
|
805.9
|
806.6
|
0.0
|
0.0
|
806.3
|
Reported earnings
per share 2
|
$1.23
|
$0.33
|
$0.00
|
$0.00
|
$1.56
|
Adjustments to
reported earnings per share 2
|
(0.14)
|
0.43
|
0.00
|
0.00
|
0.28
|
Operating earnings
per share 2
|
$1.09
|
$0.76
|
$0.00
|
$0.00
|
$1.84
|
|
|
|
|
|
|
1) Adjustments to
reported earnings are reflected in the following
table:
|
|
1Q21
|
2Q21
|
3Q21
|
4Q21
|
YTD
2021
|
Pre-tax loss
(income):
|
|
|
|
|
|
Net gain on NDT funds
|
(134)
|
(194)
|
0
|
0
|
(328)
|
Mark-to-market impact of economic hedging activities
|
(278)
|
291
|
0
|
0
|
13
|
Discontinued operations - Gas Transmission & Storage
segment
|
(35)
|
(30)
|
0
|
0
|
(65)
|
Regulated other charges
|
100
|
278
|
0
|
0
|
378
|
Merger litigation and integration charges
|
71
|
48
|
0
|
0
|
119
|
Workplace realignment
|
71
|
0
|
0
|
0
|
71
|
Storm damage and restoration costs
|
51
|
17
|
0
|
0
|
68
|
Kewaunee decommissioning revision
|
0
|
44
|
0
|
0
|
44
|
Other
|
2
|
20
|
0
|
0
|
22
|
|
|
|
|
|
|
|
($152)
|
$474
|
$0
|
$0
|
$322
|
Income tax expense
(benefit):
|
|
|
|
|
|
Tax
effect of above adjustments to reported earnings *
|
37
|
(131)
|
0
|
0
|
(94)
|
|
|
|
|
|
|
|
$37
|
($131)
|
$0
|
$0
|
($94)
|
|
|
*
|
Income taxes for
individual pre-tax items include current and deferred taxes using a
transactional effective tax rate. For interim reporting
purposes, such amounts may be
adjusted in connection with the calculation of the Company's
year-to-date income tax provision based on its
estimated annual effective
tax rate.
|
2)
|
The calculation of
operating earnings per share excludes the impact, if any, of fair
value adjustments related to the Company's convertible
preferred securities entered in
June 2019. Such fair value adjustments, if any, are required for
the calculation of diluted reported earnings per share. No
adjustments were necessary for the
three months ended March 31 or for the three and six months ended
June 30. During each quarter of 2021, the calculation of
reported and operating earnings per share includes the impact of
preferred dividends of $7 million associated with the Series A
preferred stock equity units and $9 million associated with the
Series B preferred stock equity units. See Forms 10-Q and 10-K for
additional information.
|
3)
|
YTD EPS may not equal
sum of quarters due to share count difference and fair value
adjustment associated with the convertible
preferred securities.
|
Schedule 3 - Reconciliation of 2020 Reported Earnings to
Operating Earnings
2020 Earnings (Twelve months ended December 31, 2020)
The $4.1 billion pre-tax net
effect of the adjustments included in 2020 reported earnings, but
excluded from operating earnings, is primarily related to the
following items:
- $2.4 billion net loss from
discontinued operations associated with the sale of the Gas
Transmission & Storage segment as well as the cancellation of
the Atlantic Coast Pipeline project.
- $840 million of charges primarily
relating to the planned early retirement of electric generation
facilities in Virginia and
$257 million of charges for expected
customer credit reinvestment offset and customer arrears
forgiveness for Virginia utility customers.
- $626 million for an impairment
charge attributable to Dominion Energy's interests in certain
merchant solar generation facilities and a contract termination
charge in connection with the sale of Fowler Ridge.
- $238 million of merger and
integration-related costs associated with the SCANA Combination,
including $117 million associated
with litigation.
(millions,
except per share amounts)
|
1Q20
|
2Q20
|
3Q20
|
4Q20
|
YTD 2020
3
|
Reported earnings
(loss)
|
($270)
|
($1,169)
|
$356
|
$682
|
($401)
|
Adjustments to
reported earnings 1:
|
|
|
|
|
|
Pre-tax loss (income)
|
1,265
|
2,448
|
859
|
(452)
|
4,120
|
Income tax
|
(207)
|
(649)
|
(299)
|
442
|
(713)
|
|
1,058
|
1,799
|
560
|
(10)
|
3,407
|
Operating
earnings
|
$788
|
$630
|
$916
|
$672
|
$3,006
|
Common shares
outstanding (average, diluted)
|
838.2
|
839.4
|
833.8
|
812.8
|
831.0
|
Reported earnings
(loss) per share 2
|
($0.34)
|
($1.52)
|
$0.41
|
$0.82
|
($0.57)
|
Adjustments to
reported earnings per share 2
|
1.26
|
2.25
|
0.67
|
(0.01)
|
4.11
|
Operating earnings
per share 2
|
$0.92
|
$0.73
|
$1.08
|
$0.81
|
$3.54
|
|
|
|
|
|
|
1) Adjustments to
reported earnings are reflected in the following
table:
|
|
|
|
|
|
|
1Q20
|
2Q20
|
3Q20
|
4Q20
|
YTD
2020
|
Pre-tax loss
(income):
|
|
|
|
|
|
Discontinued operations - Gas Transmission & Storage segment
*
|
(161)
|
2,691
|
90
|
(217)
|
2,403
|
Regulated asset retirements and other charges
|
768
|
44
|
200
|
96
|
1,108
|
Charges associated with interests in merchant renewable generation
facilities
|
0
|
0
|
626
|
0
|
626
|
Merger and integration-related costs
|
51
|
22
|
77
|
88
|
238
|
Net (gain) loss on NDT funds
|
538
|
(393)
|
(190)
|
(290)
|
(335)
|
Liability management and financing
|
31
|
18
|
13
|
0
|
62
|
Mark-to-market impact of economic hedging activities
|
37
|
32
|
(46)
|
(140)
|
(117)
|
Other **
|
1
|
34
|
89
|
11
|
135
|
|
|
|
|
|
|
|
$1,265
|
$2,448
|
$859
|
($452)
|
$4,120
|
Income tax expense
(benefit):
|
|
|
|
|
|
Tax
effect of above adjustments to reported earnings ***
|
(224)
|
(649)
|
(230)
|
442
|
(661)
|
Other
|
17
|
0
|
(69)
|
0
|
(52)
|
|
|
|
|
|
|
|
($207)
|
($649)
|
($299)
|
$442
|
($713)
|
|
|
*
|
Amount excludes the
50% interest in Cove Point retained by the Company.
|
**
|
Includes social
justice commitments and Tropical Storm Isaias.
|
***
|
Income taxes for
individual pre-tax items include current and deferred taxes using a
transactional effective tax rate. For interim reporting
purposes, such amounts may be
adjusted in connection with the calculation of the Company's
year-to-date income tax provision based on its estimated
annual effective tax rate.
|
2)
|
The calculation of
operating earnings per share excludes the impact, if any, of fair
value adjustments related to the Company's convertible
preferred securities entered in
June 2019. Such fair value adjustments, if any, are required for
the calculation of diluted reported earnings per share. No
adjustments were necessary for the
three months ended March 31, September 30 or December 31. For the
three months ended June 30, the fair value adjustment
required for diluted reported earnings
per share calculation was $92 million. For the twelve months ended
December 31, the fair value adjustment required for diluted reported earnings per share calculation
was $11 million. In each quarter of 2020, the calculation of
reported and operating earnings per share includes the impact of preferred dividends of $7
million associated with the Series A preferred stock equity units
entered in June 2019 and $9 million associated with the Series B preferred stock equity
units entered in December 2019. See Forms 10-Q and 10-K for
additional information.
|
3)
|
YTD EPS may not equal
sum of quarters due to share count difference and fair value
adjustment associated with the convertible
preferred securities.
|
Schedule 4 -
Reconciliation of 2Q21 Earnings to 2Q20
|
|
|
|
|
|
|
|
Preliminary,
Unaudited
|
Three Months
Ended
|
|
Six Months
Ended
|
(millions,
except EPS)
|
June
30,
|
|
June
30,
|
|
|
2021 vs.
2020
|
|
2021 vs
2020
|
|
|
Increase /
(Decrease)
|
|
Increase /
(Decrease)
|
Reconciling
Items
|
Amount
|
EPS
|
|
Amount
|
EPS
|
|
|
|
|
|
|
|
Change in reported
earnings (GAAP)
|
$1,454
|
$1.85
|
|
$2,732
|
$3.39
|
|
|
|
|
|
|
|
|
Change in Pre-tax
loss (income) 1
|
(1,974)
|
|
|
(3,391)
|
|
|
Change in Income tax
1
|
518
|
|
|
762
|
|
Adjustments to
reported earnings
|
($1,456)
|
($1.82)
|
|
($2,629)
|
($3.20)
|
|
|
|
|
|
|
|
Change in
consolidated operating earnings
|
($2)
|
$0.03
|
|
$103
|
$0.19
|
|
|
|
|
|
|
|
Dominion Energy
Virginia
|
|
|
|
|
|
|
Regulated electric
sales:
|
|
|
|
|
|
|
Weather
|
$14
|
$0.02
|
|
$65
|
$0.08
|
|
Other
|
(28)
|
(0.03)
|
|
(40)
|
(0.05)
|
|
Rider equity
return
|
6
|
0.01
|
|
10
|
0.01
|
|
Electric
capacity
|
(8)
|
(0.01)
|
|
(13)
|
(0.02)
|
|
Planned outage
costs
|
(10)
|
(0.01)
|
|
(14)
|
(0.02)
|
|
Depreciation &
amortization
|
(5)
|
(0.01)
|
|
(11)
|
(0.01)
|
|
Renewable energy
investment tax credits
|
36
|
0.04
|
|
4
|
0.01
|
|
Other
|
(11)
|
(0.02)
|
|
(2)
|
0.00
|
|
Share
accretion
|
|
0.02
|
|
|
0.04
|
|
Change in
contribution to operating earnings
|
($6)
|
$0.01
|
|
($1)
|
$0.04
|
|
|
|
|
|
|
|
Gas
Distribution
|
|
|
|
|
|
|
Regulated gas
sales:
|
|
|
|
|
|
|
Weather
|
($1)
|
$0.00
|
|
$3
|
$0.00
|
|
Other
|
4
|
0.00
|
|
7
|
0.01
|
|
Rider Equity
Return
|
10
|
0.01
|
|
21
|
0.03
|
|
Interest expense,
net
|
7
|
0.01
|
|
16
|
0.02
|
|
Other
|
(12)
|
(0.01)
|
|
(12)
|
(0.02)
|
|
Share
accretion
|
|
0.01
|
|
|
0.02
|
|
Change in
contribution to operating earnings
|
$8
|
$0.02
|
|
$35
|
$0.06
|
|
|
|
|
|
|
|
Dominion Energy
South Carolina
|
|
|
|
|
|
|
Regulated electric
sales:
|
|
|
|
|
|
|
Weather
|
$2
|
$0.00
|
|
$15
|
$0.02
|
|
Other
|
16
|
0.02
|
|
12
|
0.01
|
|
Regulated gas
sales
|
1
|
0.00
|
|
5
|
0.01
|
|
Interest expense,
net
|
4
|
0.00
|
|
6
|
0.01
|
|
Other
|
(14)
|
(0.01)
|
|
(21)
|
(0.03)
|
|
Share
accretion
|
|
0.00
|
|
|
0.01
|
|
Change in
contribution to operating earnings
|
$9
|
$0.01
|
|
$17
|
$0.03
|
|
|
|
|
|
|
|
Contracted
Assets
|
|
|
|
|
|
|
Margin
|
$17
|
$0.02
|
|
$21
|
$0.02
|
|
Planned outage
costs
|
23
|
0.03
|
|
25
|
0.03
|
|
Renewable energy
investment tax credits
|
(6)
|
(0.01)
|
|
23
|
0.03
|
|
Other
|
(2)
|
0.00
|
|
2
|
0.00
|
|
Share
accretion
|
|
0.00
|
|
|
0.01
|
|
Change in
contribution to operating earnings
|
$32
|
$0.04
|
|
$71
|
$0.09
|
|
|
|
|
|
|
|
Corporate and
Other
|
|
|
|
|
|
|
Share accretion and
other
|
($45)
|
(0.05)
|
|
($19)
|
($0.03)
|
|
Change in
contribution to operating earnings
|
($45)
|
($0.05)
|
|
($19)
|
($0.03)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in
consolidated operating earnings
|
($2)
|
$0.03
|
|
$103
|
$0.19
|
|
|
|
|
|
|
|
Change in
adjustments included in reported
earnings1
|
$1,456
|
$1.82
|
|
$2,629
|
$3.20
|
|
|
|
|
|
|
|
Change in
consolidated reported earnings
|
$1,454
|
$1.85
|
|
$2,732
|
$3.39
|
|
|
1)
|
Adjustments to
reported earnings are included in Corporate and Other segment
reported GAAP earnings.
|
|
Refer to Schedules 2
and 3 for details, or find "GAAP Reconciliation" in the Earnings
Release Kit on Dominion Energy's website at investors.dominionenergy.com.
|
Note: Figures may not
sum due to rounding
|
View original
content:https://www.prnewswire.com/news-releases/dominion-energy-announces-second-quarter-2021-earnings-301349975.html
SOURCE Dominion Energy