ORGANIZATION AND BASIS OF PRESENTATION (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Regulatory assets on the Balance Sheets

The following table provides information about the composition of net regulatory assets and liabilities as of December 31, 2022 and 2021, and the changes during the year ended December 31, 2022:

	As of December 31,
Net Regulatory Assets (Liabilities) by Source	2022		2021		Change
	(In millions)
Customer payables for future income taxes	$	(2,463)	$	(2,345)	$	(118)
Spent nuclear fuel disposal costs	(83)		(101)		18
Asset removal costs	(675)		(646)		(29)
Deferred transmission costs	50		(3)		53
Deferred generation costs	235		118		117
Deferred distribution costs	164		49		115
Storm-related costs	683		660		23
Uncollectible and pandemic-related costs	63		56		7
Energy efficiency program costs	94		47		47
New Jersey societal benefit costs	94		109		(15)
Vegetation management	63		33		30
Other	(39)		(30)		(9)
Net Regulatory Liabilities included on the Consolidated Balance Sheets	$	(1,814)	$	(2,053)	$	239

The following table provides information about the composition of net regulatory assets that do not earn a current return as of December 31, 2022 and 2021, of which approximately $511 million and $228 million, respectively, are currently being recovered through rates over varying periods, through 2068, depending on the nature of the deferral and the jurisdiction:

Regulatory Assets by Source Not Earning a	As of December 31,
Current Return	2022		2021		Change
			(In millions)
Deferred transmission costs	$	8	$	13	$	(5)
Deferred generation costs	262		63		199
Deferred distribution costs	27		2		25
Storm-related costs	568		549		19
Pandemic-related costs	70		65		5
Vegetation management	52		31		21
Other	10		9		1
Regulatory Assets Not Earning a Current Return	$	997	$	732	$	265

Schedule of Goodwill

The following table presents goodwill by reporting unit as of December 31, 2022:

(In millions)	Regulated Distribution		Regulated Transmission		Consolidated
Goodwill	$	5,004	$	614	$	5,618

Schedule of Property, plant and equipment balances

Property, plant and equipment balances by segment as of December 31, 2022 and 2021, were as follows:

	December 31, 2022
Property, Plant and Equipment	In Service(1)		Accum. Depr.		Net Plant		CWIP		Total
	(In millions)
Regulated Distribution	$	32,257	$	(9,636)	$	22,621	$	828	$	23,449
Regulated Transmission	14,468		(2,978)		11,490		818		12,308
Corporate/Other	1,125		(644)		481		47		528
Total	$	47,850	$	(13,258)	$	34,592	$	1,693	$	36,285

	December 31, 2021
Property, Plant and Equipment	In Service(1)		Accum. Depr.		Net Plant		CWIP		Total
	(In millions)
Regulated Distribution	$	31,154	$	(9,284)	$	21,870	$	774	$	22,644
Regulated Transmission	13,744		(2,789)		10,955		580		11,535
Corporate/Other	1,104		(599)		505		60		565
Total	$	46,002	$	(12,672)	$	33,330	$	1,414	$	34,744

(1) Includes finance leases of $105 million and $143 million as of December 31, 2022 and 2021, respectively.

Schedule of Changes to the asset retirement obligations

The following table summarizes the changes to the ARO balances during 2022 and 2021:

ARO Reconciliation	(In millions)
Balance, January 1, 2021	$	159
Changes in timing and amount of estimated cash flows	8
Liabilities settled	(1)
Accretion	13
Balance, December 31, 2021	$	179
Changes in timing and amount of estimated cash flows	(2)
Liabilities settled	(6)
Accretion	14
Balance, December 31, 2022	$	185