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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash and Cash Equivalents $ 1,811 $ 543
Accounts Receivable, net of allowance 1,440 1,410
Tax Receivable 9 63
Unbilled Revenues, net of allowance 167 229
Fuel 270 277
Materials and Supplies, net 449 601
Prepayments 139 51
Derivative Contracts 137 60
Regulatory Assets 272 369
Assets Held-for-sale 2,050 0
Other 71 27
Total Current Assets 6,815 3,630
PROPERTY, PLANT AND EQUIPMENT 43,075 48,569
Less: Accumulated Depreciation and Amortization (9,496) (10,984)
Net Property, Plant and Equipment 33,579 37,585
NONCURRENT ASSETS    
Regulatory Assets 3,983 3,872
Operating Lease, Right-of-Use Asset 206 262
Long-Term Investments 578 536
Nuclear Decommissioning Trust (NDT) Fund 2,595 2,501
Long-Term Tax Receivable 47 0
Long-Term Receivable of Variable Interest Entities (VIEs) 949 945
Rabbi Trust Fund 243 266
Other Intangibles 133 158
Derivative Contracts 16 9
Other 282 286
Total Noncurrent Assets 9,032 8,835
Total Assets 49,426 50,050
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 1,650 1,684
Commercial Paper and Loans 3,705 1,063
Accounts Payable 1,168 1,332
Derivative Contracts 56 21
Accrued Interest 164 126
Accrued Taxes 86 124
Clean Energy Program 188 143
Obligation to Return Cash Collateral 218 98
Regulatory Liabilities 345 294
Liabilities Held-for-Sale 126 0
Other 399 637
Total Current Liabilities 8,105 5,522
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 5,524 6,502
Regulatory Liabilities 2,665 2,707
Operating Leases 196 252
Asset Retirement Obligations 1,260 1,212
Environmental Costs 248 286
Derivative Contracts 17 4
Long-Term Accrued Taxes 109 88
Other 202 214
Total Noncurrent Liabilities 12,827 14,048
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 14,425 14,496
STOCKHOLDER'S EQUITY    
Common Stock, Value, Issued 5,039 5,031
Treasury Stock, at cost (898) (861)
Retained Earnings 10,452 12,318
Accumulated Other Comprehensive Income (Loss) (524) (504)
Total Stockholder's Equity 14,069 15,984
Total Capitalization 28,494 30,480
TOTAL LIABILITIES AND CAPITALIZATION 49,426 50,050
Consolidated Entity Excluding Variable Interest Entities (VIE)    
NONCURRENT LIABILITIES    
OPEB Costs 702 730
Accrued Pension Costs 975 1,128
Variable Interest Entity, Primary Beneficiary    
NONCURRENT LIABILITIES    
OPEB Costs 722 699
Accrued Pension Costs 207 226
Public Service Electric and Gas Company [Member]    
CURRENT ASSETS    
Cash and Cash Equivalents 461 204
Accounts Receivable, net of allowance 1,041 1,004
Accounts Receivable-Affiliated Companies 2 0
Unbilled Revenues, net of allowance 167 229
Materials and Supplies, net 233 217
Prepayments 103 14
Regulatory Assets 272 369
Other 56 13
Total Current Assets 2,335 2,050
PROPERTY, PLANT AND EQUIPMENT 37,922 36,300
Less: Accumulated Depreciation and Amortization (7,513) (7,149)
Net Property, Plant and Equipment 30,409 29,151
NONCURRENT ASSETS    
Regulatory Assets 3,983 3,872
Operating Lease, Right-of-Use Asset 93 99
Long-Term Investments 188 222
Rabbi Trust Fund 43 51
Other 128 136
Total Noncurrent Assets 4,435 4,380
Total Assets 37,179 35,581
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 0 434
Commercial Paper and Loans 0 100
Accounts Payable 527 671
Accounts Payable-Affiliated Companies 129 479
Accrued Interest 113 101
Clean Energy Program 188 143
Obligation to Return Cash Collateral 218 98
Regulatory Liabilities 345 294
Other 340 530
Total Current Liabilities 1,860 2,850
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 4,811 4,524
Regulatory Liabilities 2,665 2,707
Operating Leases 83 88
Asset Retirement Obligations 316 314
OPEB Costs 467 485
Accrued Pension Costs 513 612
Environmental Costs 194 236
Long-Term Accrued Taxes 24 7
Other 151 154
Total Noncurrent Liabilities 9,224 9,127
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 11,793 10,475
STOCKHOLDER'S EQUITY    
Common Stock, Value, Issued 892 892
Contributed Capital 1,170 1,170
Basis Adjustment 986 986
Retained Earnings 11,253 10,078
Accumulated Other Comprehensive Income (Loss) 1 3
Total Stockholder's Equity 14,302 13,129
Total Capitalization 26,095 23,604
TOTAL LIABILITIES AND CAPITALIZATION 37,179 35,581
PSEG Power [Member]    
CURRENT ASSETS    
Cash and Cash Equivalents 2 27
Accounts Receivable, net of allowance 345 328
Accounts Receivable-Affiliated Companies 3 317
Short-Term Loan to Affiliate 0 161 [1]
Fuel 270 277
Materials and Supplies, net 214 382
Prepayments 12 16
Derivative Contracts [2] 137 60
Assets Held-for-sale 2,050 0
Other 1 2
Total Current Assets 3,034 1,570
PROPERTY, PLANT AND EQUIPMENT 4,736 11,872
Less: Accumulated Depreciation and Amortization (1,737) (3,624)
Net Property, Plant and Equipment 2,999 8,248
NONCURRENT ASSETS    
Operating Lease, Right-of-Use Asset 18 61
Long-Term Investments 64 64
Nuclear Decommissioning Trust (NDT) Fund 2,595 2,501
Rabbi Trust Fund 63 66
Other Intangibles 133 158
Derivative Contracts [2] 16 9
Other 28 27
Total Noncurrent Assets 2,917 2,886
Total Assets 8,950 12,704
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 1,350 950
Accounts Payable 445 459
Accounts Payable-Affiliated Companies 63 13
Short Term Loan from Affiliate 862 [1] 0
Derivative Contracts [2] 56 21
Accrued Interest 29 16
Liabilities Held-for-Sale 126 0
Other 59 101
Total Current Liabilities 2,990 1,560
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 628 1,936
Operating Leases 9 51
Asset Retirement Obligations 941 895
OPEB Costs 185 197
Accrued Pension Costs 281 321
Derivative Contracts [2] 17 4
Long-Term Accrued Taxes 63 57
Other 72 79
Total Noncurrent Liabilities 2,196 3,540
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 0 1,392
STOCKHOLDER'S EQUITY    
Contributed Capital 2,310 2,310
Basis Adjustment (986) (986)
Retained Earnings 2,877 5,307
Accumulated Other Comprehensive Income (Loss) (437) (419)
Total Stockholder's Equity 3,764 6,212
TOTAL LIABILITIES AND CAPITALIZATION $ 8,950 $ 12,704
[1] PSEG Power’s short-term loans with PSEG are for working capital and other short-term needs. Interest Income and Interest Expense relating to these short-term funding activities were immaterial.
[2] Substantially all of PSEG Power’s and PSEG’s derivative instruments are contracts subject to master netting agreements. Contracts not subject to master netting or similar agreements are immaterial and did not have any collateral posted or received as of September 30, 2021 and December 31, 2020.