Dominion Energy Files Q3 2024 10-Q

TL;DR

**DOMINION ENERGY FILES Q3 10-Q - CHECK FINANCIALS**

AI Summary

Dominion Energy, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and operational status. Key financial data and disclosures relevant to investors are presented in this quarterly report.

Why It Matters

This filing provides investors with the latest financial and operational details for Dominion Energy, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — Quarterly filings like this 10-Q are standard for public companies and contain important financial information, but they don't inherently signal new, immediate risks.

Key Players & Entities

• DOMINION ENERGY, INC (company) — Filer of the 10-Q
• VIRGINIA ELECTRIC & POWER CO (company) — Subsidiary of Dominion Energy
• 20240930 (date) — End of the reporting period
• 20241101 (date) — Filing date

FAQ

Key Financial Figures

• $1,000 — value, with a liquidation preference of $1,000 per share Series C Preferred Stock

Filing Documents

• d-20240930.htm (10-Q) — 8357KB
• d-ex31_a.htm (EX-31.A) — 11KB
• d-ex31_b.htm (EX-31.B) — 11KB
• d-ex31_c.htm (EX-31.C) — 11KB
• d-ex31_d.htm (EX-31.D) — 11KB
• d-ex32_a.htm (EX-32.A) — 8KB
• d-ex32_b.htm (EX-32.B) — 8KB
• d-ex99.htm (EX-99) — 70KB
• 0000950170-24-119871.txt ( ) — 37898KB
• d-20240930.xsd (EX-101.SCH) — 3515KB
• d-20240930_htm.xml (XML) — 10811KB

Financial Information

PART I. Financial Information Item 1.

Financial Statements

Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 67 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 86 Item 4.

Controls and Procedures

Controls and Procedures 87

Other Information

PART II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 88 Item 1A.

Risk Factors

Risk Factors 88 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 88 Item 5. Other Information 88 Item 6. Exhibits 89 2 GLOSSARY OF TERMS The following abbreviations or acronyms used in this Form 10-Q are defined below: Abbreviation or Acronym Definition 2017 Tax Reform Act An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018 (previously known as The Tax Cuts and Jobs Act) enacted on December 22, 2017 2021 Triennial Review Virginia Commission review of Virginia Power's earned return on base rate generation and distribution services for the four successive 12-month test periods beginning January 1, 2017 and ending December 31, 2020 2023 Biennial Review Virginia Commission review of Virginia Power's earned return on base rate generation and distribution services for the two successive 12-month test periods beginning January 1, 2021 and ending December 31, 2022 and prospective rate base setting for the succeeding annual periods beginning January 1, 2024 and ending December 31, 2025 2024 EJSNs 2024 Series A EJSNs and 2024 Series B EJSNs 2024 Series A EJSNs Dominion Energy's 2024 Series A Enhanced Junior Subordinated Notes due 2055 2024 Series B EJSNs Dominion Energy's 2024 Series B Enhanced Junior Subordinated Notes due 2054 2025 Biennial Review Future Virginia Commission review of Virginia Power's earned return on base rate generation and distribution services for the two successive 12-month test periods beginning January 1, 2023 and ending December 31, 2024 and prospective rate base setting for the succeeding annual periods beginning January 1, 2026 and ending December 31, 2027 ACE Rule Affordable Clean Energy Rule AEP The legal entity American Electric Power Company, Inc., one or more of its consolidated subsidiaries, or the entirety of American Electric Power Company, Inc. and its consolidated subsidiaries

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations MGD Million gallons per day Millstone Millstone nuclear power station Moody's Moody's Investors Service MW Megawatt MWh Megawatt hour Natural Gas Rate Stabilization Act Legislation effective February 2005 designed to improve and maintain natural gas service infrastructure to meet the needs of customers in South Carolina NAV Net asset value NND Project V.C. Summer Units 2 and 3 nuclear development project under which DESC and Santee Cooper undertook to construct two Westinghouse AP1000 Advanced Passive Safety nuclear units in Jenkinsville, South Carolina North Anna North Anna nuclear power station North Carolina Commission North Carolina Utilities Commission NO X Nitrogen oxide NRC U.S. Nuclear Regulatory Commission October 2014 hybrids Dominion Energy's 2014 Series A Enhanced Junior Subordinated Notes due 2054 Ohio Commission Public Utilities Commission of Ohio 5 Order 1000 Order issued by FERC adopting requirements for electric transmission planning, cost allocation and development OSWP OSW Project LLC, a limited liability company owned by Virginia Power and Stonepeak (effective October 2024) ozone season The period May 1 st through September 30 th , as determined on a federal level Patriot Patriot Utility Privatizations, LLC, a joint venture between Foundation Infrastructure Partners, LLC and John Hancock Life Insurance Company (U.S.A.) and affiliates PJM PJM Interconnection, LLC PSD Prevention of significant deterioration PSNC Public Service Company of North Carolina, Incorporated (a subsidiary of Enbridge effective September 2024) PSNC Transaction The sale by Dominion Energy to Enbridge of all of its membership interests in Fall North Carolina Holdco LLC and its consolidated subsidiaries, which following a reorganization included PSNC, pursuant to a purchase and sale agreement entered into

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

FINANC IAL STATEMENTS

ITEM 1. FINANC IAL STATEMENTS DOMINION ENERGY, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (millions, except per share amounts) Operating Revenue $ 3,941 $ 3,810 $ 11,059 $ 10,859 Operating Expenses Electric fuel and other energy-related purchases 910 1,049 2,787 3,010 Purchased electric capacity 24 20 57 43 Purchased gas 34 40 198 212 Other operations and maintenance 900 842 2,597 2,366 Depreciation and amortization 549 667 1,791 1,896 Other taxes 184 162 556 517 Impairment of assets and other charges 122 1 219 136 Losses (gains) on sales of assets — — ( 2 ) ( 23 ) Total operating expenses 2,723 2,781 8,203 8,157 Income from operations 1,218 1,029 2,856 2,702 Other income (expense) 335 56 1,020 646 Interest and related charges 403 192 1,446 1,066 Income from continuing operations including noncontrolling interests before income tax expense 1,150 893 2,430 2,282 Income tax expense 183 195 412 469 Net Income From Continuing Operations 967 698 2,018 1,813 Net Income (Loss) From Discontinued Operations (1) ( 13 ) ( 541 ) 182 ( 92 ) Net Income Including Noncontrolling Interests 954 157 2,200 1,721 Noncontrolling Interests — — — — Net Income Attributable to Dominion Energy $ 954 $ 157 $ 2,200 $ 1,721 Amounts attributable to Dominion Energy Net income from continuing operations $ 967 $ 698 $ 2,018 $ 1,813 Net income (loss) from discontinued operations ( 13 ) ( 541 ) 182 ( 92 ) Net income attributable to Dominion Energy $ 954 $ 157 $ 2,200 $ 1,721 EPS - Basic Net income from continuing operations $ 1.14 $ 0.81 $ 2.33 $ 2.10 Net income (loss) from discontinued oper

View Full Filing

View this 10-Q filing on SEC EDGAR