Dominion Power 2001 Annual Report Download - page 71

Download and view the complete annual report

Please find page 71 of the 2001 Dominion Power annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 91

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91

Property, Plant and Equipment
Major classes of property, plant and equipment and their
respective balances are:
(millions) At December 31, 2001 2000
Utility
Production $ 8,414 $ 8,103
Transmission 3,165 3,085
Distribution 7,024 6,764
Storage 755 573
Plant under construction 587 562
Nuclear fuel 757 755
Other electric and gas 1,528 1,574
Total utility 22,230 21,416
Nonutility
Exploration and production properties:
Proved 7,303 5,210
Unproved 1,689 550
Independent power properties—nuclear 1,170
—
Independent power properties—other 381 358
Other 332 477
Total nonutility 10,875 6,595
Total property, plant and equipment $33,105 $28,011
Costs of unproved properties capitalized under the full cost
method of accounting that are excluded from amortization at
December 31, 2001, and the years in which such excluded costs
were incurred, follow:
(millions) Incurred in Year Ended December 31,
Prior
Total 2001 2000 Years
Property acquisition costs $ 947 $861 $41 $45
Exploration costs 120 80 40
—
Capitalized interest 27 13 14
—
Tot al $1,094 $954 $95 $45
Note 17 Amortization rates for capitalized costs under the full
cost method of accounting for Dominion’s United States and
Canadian cost centers were as follows:
(Per Mcf Equivalent)
Year ended December 31, 2001 2000 1999
United States cost center $1.13 $1.13 $0.75
Canadian cost center 0.78 0.92 0.80
Dominion’s proportionate share of jointly-owned utility
plants at December 31, 2001 follows:
Bath
County North
Pumped Anna Clover
Storage Power Power
(millions, except percentages) Station Station Station
Ownership interest 60.0% 88.4% 50.0%
Plant in service $1,028 $1,859 $533
Accumulated depreciation 321 1,162 83
Nuclear fuel
—
314
—
Accumulated amortization of nuclear fuel
—
303
—
Construction work in progress 328 4
The co-owners are obligated to pay their share of all future
construction expenditures and operating costs of the jointly-
owned facilities in the same proportions as their respective
ownership interest. Such operating costs are classified in the
appropriate expense category in the consolidated statements
of income.
69