Summary
Dominion Energy, Inc. (D) and its subsidiary Virginia Electric and Power Company have filed a Form 8-K to recast certain historical financial statements and information previously presented in their 2022 Annual Report (Form 10-K). This recasting is primarily to reflect the reclassification of specific regulated gas distribution operations and investments as discontinued operations and assets held for sale, following agreements entered into in September 2023. These changes stem from the announced comprehensive business review, including the sale of most regulated gas distribution operations to Enbridge Inc. and the sale of Dominion Energy's remaining interest in Cove Point LNG, LP to Berkshire Hathaway Energy Company. The company has also revised its primary operating segments to align with these divestitures. Investors should review these recast financials as they provide a more accurate representation of the company's ongoing business segments.
Key Highlights
- 1Recasting of 2022 Form 10-K financial statements and related information.
- 2Reclassification of certain regulated gas distribution operations and investments as discontinued operations and held for sale.
- 3Sale of most regulated gas distribution operations to Enbridge Inc. completed in September 2023.
- 4Sale of remaining 50% noncontrolling partnership interest in Cove Point LNG, LP completed in September 2023.
- 5Revision of Dominion Energy's primary operating segments to reflect divestitures.
- 6New financial statements for the fiscal year ended December 31, 2022, are filed in iXBRL format.
- 7This filing does not update for events or activities occurring after the original presentation of the recast items.