Long-Term Investments (Tables)

12 Months Ended

Dec. 31, 2012

Long-Term Investments as of December 31, 2012 and 2011 included the following:




	As of December 31,
	2012		2011
	Millions
Power
Partnerships and Corporate Joint Ventures (Equity Method Investments)	$	40	$	32
PSE&G
Life Insurance and Supplemental Benefits	161		162
Solar Loan Investments	180		111
Other Investments	7		7
Energy Holdings
Leveraged Leases	840		881
Partnerships and Corporate Joint Ventures:
Equity Method Investments (A)	94		106
Cost Method Investments (B)	2		4
Total Long-Term Investments	$	1,324	$	1,303


(A)	During the three years ended December 31, 2012, 2011 and 2010, the amount of dividends from these investments was $17 million, $3 million and $5 million, respectively. Energy Holdings’ share of income and cash flow distribution percentages were at 50% as of December 31, 2012.


(B)	Reflects Energy Holdings' investments in certain companies in which it does not have the ability to exercise significant influence. Such investments are accounted for under the cost method.

The following table shows Energy Holdings’ gross and net lease investment as of December 31, 2012 and 2011, respectively.




	As of December 31,
	2012			2011
	Millions
Lease Receivables (net of Non-Recourse Debt)	$	721		$	763
Estimated Residual Value of Leased Assets	535			553
	1,256			1,316
Unearned and Deferred Income	(416		)	(435		)
Gross Investments in Leases	840			881
Deferred Tax Liabilities	(723		)	(716		)
Net Investments in Leases	$	117		$	165

The pre-tax income and income tax effects, excluding gains and losses on sales, related to investments in leases were as follows:




	Years Ended December 31,
	2012		2011			2010
	Millions
Pre-Tax Income (Loss) from Leases	$	78	$	(228	)	$	45
Income Tax Expense (Benefit) on Pre-Tax Income from Leases	$	34	$	(77	)	$	14

Power and Energy Holdings had the following equity method investments as of December 31, 2012: