Guarantees of Debt

3 Months Ended

Mar. 31, 2018

Debt Instrument [Line Items]

Guarantees of Debt

Guarantees of Debt

Power’s Senior Notes are fully and unconditionally and jointly and severally guaranteed by its subsidiaries, PSEG Fossil LLC, PSEG Nuclear LLC and PSEG Energy Resources & Trade LLC. The following tables present condensed financial information for the guarantor subsidiaries, as well as Power’s non-guarantor subsidiaries, as of March 31, 2018 and December 31, 2017 and for the three months ended March 31, 2018 and 2017.

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Three Months Ended March 31, 2018
Operating Revenues	$	—		$	1,386		$	51		$	(34	)	$	1,403
Operating Expenses	—			1,056			52			(34		)	1,074
Operating Income (Loss)	—			330			(1		)	—			329
Equity Earnings (Losses) of Subsidiaries	234			(3		)	2			(231		)	2
Net Gains (Losses) on Trust Investments	—			(22		)	—			—			(22		)
Other Income (Deductions)	35			33			—			(57		)	11
Non-Operating Pension and OPEB Credits (Costs)	—			4			—			—			4
Interest Expense	(42		)	(17		)	(5		)	57			(7		)
Income Tax Benefit (Expense)	7			(92		)	2			—			(83		)
Net Income (Loss)	$	234		$	233		$	(2	)	$	(231	)	$	234
Comprehensive Income (Loss)	$	229		$	223		$	(2	)	$	(221	)	$	229
Three Months Ended March 31, 2018
Net Cash Provided By (Used In)    Operating Activities	$	(5	)	$	525		$	(49	)	$	71		$	542
Net Cash Provided By (Used In)    Investing Activities	$	(215	)	$	(625	)	$	(82	)	$	605		$	(317	)
Net Cash Provided By (Used In)    Financing Activities	$	220		$	100		$	111		$	(677	)	$	(246	)

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Three Months Ended March 31, 2017
Operating Revenues	$	—		$	1,255		$	52		$	(38	)	$	1,269
Operating Expenses	4			1,556			52			(38		)	1,574
Operating Income (Loss)	(4		)	(301		)	—			—			(305		)
Equity Earnings (Losses) of Subsidiaries	(161		)	(1		)	3			162			3
Net Gains (Losses) on Trust Investments	4			15			—			—			19
Other Income (Deductions)	20			19			—			(28		)	11
Non-Operating Pension and OPEB Credits (Costs)	—			2			—			—			2
Interest Expense	(30		)	(9		)	(5		)	28			(16		)
Income Tax Benefit (Expense)	1			111			4			—			116
Net Income (Loss)	$	(170	)	$	(164	)	$	2		$	162		$	(170	)
Comprehensive Income (Loss)	$	(146	)	$	(143	)	$	2		$	141		$	(146	)
Three Months Ended March 31, 2017
Net Cash Provided By (Used In)    Operating Activities	$	77		$	377		$	91		$	35		$	580
Net Cash Provided By (Used In)    Investing Activities	$	251		$	20		$	(154	)	$	(511	)	$	(394	)
Net Cash Provided By (Used In)    Financing Activities	$	(328	)	$	(395	)	$	68		$	476		$	(179	)

	Power		Guarantor Subsidiaries		Other Subsidiaries		Consolidating Adjustments			Total
	Millions
As of March 31, 2018
Current Assets	$	4,168	$	1,392	$	189	$	(4,631	)	$	1,118
Property, Plant and Equipment, net	55		5,094		3,540		—			8,689
Investment in Subsidiaries	5,089		1,115		—		(6,204		)	—
Noncurrent Assets	90		2,295		109		(38		)	2,456
Total Assets	$	9,402	$	9,896	$	3,838	$	(10,873	)	$	12,263
Current Liabilities	$	548	$	3,234	$	1,874	$	(4,631	)	$	1,025
Noncurrent Liabilities	521		1,961		461		(38		)	2,905
Long-Term Debt	2,137		—		—		—			2,137
Member’s Equity	6,196		4,701		1,503		(6,204		)	6,196
Total Liabilities and Member’s Equity	$	9,402	$	9,896	$	3,838	$	(10,873	)	$	12,263
As of December 31, 2017
Current Assets	$	4,327	$	1,500	$	200	$	(4,686	)	$	1,341
Property, Plant and Equipment, net	54		5,778		2,764		—			8,596
Investment in Subsidiaries	4,844		404		—		(5,248		)	—
Noncurrent Assets	100		2,349		110		(78		)	2,481
Total Assets	$	9,325	$	10,031	$	3,074	$	(10,012	)	$	12,418
Current Liabilities	$	689	$	3,586	$	1,846	$	(4,686	)	$	1,435
Noncurrent Liabilities	533		1,966		459		(78		)	2,880
Long-Term Debt	2,136		—		—		—			2,136
Member’s Equity	5,967		4,479		769		(5,248		)	5,967
Total Liabilities and Member’s Equity	$	9,325	$	10,031	$	3,074	$	(10,012	)	$	12,418

Power [Member]

Debt Instrument [Line Items]

Guarantees of Debt

Guarantees of Debt

Power’s Senior Notes are fully and unconditionally and jointly and severally guaranteed by its subsidiaries, PSEG Fossil LLC, PSEG Nuclear LLC and PSEG Energy Resources & Trade LLC. The following tables present condensed financial information for the guarantor subsidiaries, as well as Power’s non-guarantor subsidiaries, as of March 31, 2018 and December 31, 2017 and for the three months ended March 31, 2018 and 2017.

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Three Months Ended March 31, 2018
Operating Revenues	$	—		$	1,386		$	51		$	(34	)	$	1,403
Operating Expenses	—			1,056			52			(34		)	1,074
Operating Income (Loss)	—			330			(1		)	—			329
Equity Earnings (Losses) of Subsidiaries	234			(3		)	2			(231		)	2
Net Gains (Losses) on Trust Investments	—			(22		)	—			—			(22		)
Other Income (Deductions)	35			33			—			(57		)	11
Non-Operating Pension and OPEB Credits (Costs)	—			4			—			—			4
Interest Expense	(42		)	(17		)	(5		)	57			(7		)
Income Tax Benefit (Expense)	7			(92		)	2			—			(83		)
Net Income (Loss)	$	234		$	233		$	(2	)	$	(231	)	$	234
Comprehensive Income (Loss)	$	229		$	223		$	(2	)	$	(221	)	$	229
Three Months Ended March 31, 2018
Net Cash Provided By (Used In)    Operating Activities	$	(5	)	$	525		$	(49	)	$	71		$	542
Net Cash Provided By (Used In)    Investing Activities	$	(215	)	$	(625	)	$	(82	)	$	605		$	(317	)
Net Cash Provided By (Used In)    Financing Activities	$	220		$	100		$	111		$	(677	)	$	(246	)

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Three Months Ended March 31, 2017
Operating Revenues	$	—		$	1,255		$	52		$	(38	)	$	1,269
Operating Expenses	4			1,556			52			(38		)	1,574
Operating Income (Loss)	(4		)	(301		)	—			—			(305		)
Equity Earnings (Losses) of Subsidiaries	(161		)	(1		)	3			162			3
Net Gains (Losses) on Trust Investments	4			15			—			—			19
Other Income (Deductions)	20			19			—			(28		)	11
Non-Operating Pension and OPEB Credits (Costs)	—			2			—			—			2
Interest Expense	(30		)	(9		)	(5		)	28			(16		)
Income Tax Benefit (Expense)	1			111			4			—			116
Net Income (Loss)	$	(170	)	$	(164	)	$	2		$	162		$	(170	)
Comprehensive Income (Loss)	$	(146	)	$	(143	)	$	2		$	141		$	(146	)
Three Months Ended March 31, 2017
Net Cash Provided By (Used In)    Operating Activities	$	77		$	377		$	91		$	35		$	580
Net Cash Provided By (Used In)    Investing Activities	$	251		$	20		$	(154	)	$	(511	)	$	(394	)
Net Cash Provided By (Used In)    Financing Activities	$	(328	)	$	(395	)	$	68		$	476		$	(179	)

	Power		Guarantor Subsidiaries		Other Subsidiaries		Consolidating Adjustments			Total
	Millions
As of March 31, 2018
Current Assets	$	4,168	$	1,392	$	189	$	(4,631	)	$	1,118
Property, Plant and Equipment, net	55		5,094		3,540		—			8,689
Investment in Subsidiaries	5,089		1,115		—		(6,204		)	—
Noncurrent Assets	90		2,295		109		(38		)	2,456
Total Assets	$	9,402	$	9,896	$	3,838	$	(10,873	)	$	12,263
Current Liabilities	$	548	$	3,234	$	1,874	$	(4,631	)	$	1,025
Noncurrent Liabilities	521		1,961		461		(38		)	2,905
Long-Term Debt	2,137		—		—		—			2,137
Member’s Equity	6,196		4,701		1,503		(6,204		)	6,196
Total Liabilities and Member’s Equity	$	9,402	$	9,896	$	3,838	$	(10,873	)	$	12,263
As of December 31, 2017
Current Assets	$	4,327	$	1,500	$	200	$	(4,686	)	$	1,341
Property, Plant and Equipment, net	54		5,778		2,764		—			8,596
Investment in Subsidiaries	4,844		404		—		(5,248		)	—
Noncurrent Assets	100		2,349		110		(78		)	2,481
Total Assets	$	9,325	$	10,031	$	3,074	$	(10,012	)	$	12,418
Current Liabilities	$	689	$	3,586	$	1,846	$	(4,686	)	$	1,435
Noncurrent Liabilities	533		1,966		459		(78		)	2,880
Long-Term Debt	2,136		—		—		—			2,136
Member’s Equity	5,967		4,479		769		(5,248		)	5,967
Total Liabilities and Member’s Equity	$	9,325	$	10,031	$	3,074	$	(10,012	)	$	12,418