Earnings Per Share (EPS) and Dividends

12 Months Ended

Dec. 31, 2021

EPS

Basic EPS is calculated by dividing Net Income (Loss) by the weighted average number of shares of common stock outstanding. Diluted EPS is calculated by dividing Net Income (Loss) by the weighted average number of shares of common stock outstanding, plus dilutive potential shares related to PSEG’s stock based compensation. For additional information on PSEG’s stock compensation plans see Note 20. Stock Based Compensation. The following table shows the effect of these dilutive potential shares on the weighted average number of shares outstanding used in calculating diluted EPS:



	Years Ended December 31,
	2021				2020				2019
	Basic		Diluted		Basic		Diluted		Basic		Diluted
EPS Numerator:
(Millions)
Net Income (Loss)	$	(648)	$	(648)	$	1,905	$	1,905	$	1,693	$	1,693
EPS Denominator:
(Millions)
Weighted Average Common Shares Outstanding	504		504		504		504		504		504
Effect of Stock Based Compensation Awards	—		—		—		3		—		3
Total Shares	504		504		504		507		504		507
EPS:
Net Income (Loss)	$	(1.29)	$	(1.29)	$	3.78	$	3.76	$	3.35	$	3.33

Approximately 3 million potentially dilutive shares were excluded from total shares used to calculate the diluted loss per share for the year ended December 31, 2021 as their impact was antidilutive.

For additional information on all the types of long-term incentive awards, see Note 20. Stock Based Compensation.

Dividends



	Years Ended December 31,
Dividend Payments on Common Stock	2021		2020		2019
Per Share	$	2.04	$	1.96	$	1.88
in Millions	$	1,031	$	991	$	950

On February 15, 2022, PSEG’s Board of Directors approved a $0.54 per share common stock dividend for the first quarter of 2022.