Leases Leases (Tables)

3 Months Ended

Mar. 31, 2019

The following amounts relate to total Operating Lease costs, including both amounts recognized in the Condensed Consolidated Statements of Operations during the three months ended March 31, 2019 and any amounts capitalized as part of the cost of another asset, and the cash flows arising from lease transactions.




	PSE&G			Power			Other			Total
	Millions
Three Months Ended March 31, 2019
Operating Lease Costs
Long-term Lease Costs	$	4		$	2		$	4		$	10
Short-term Lease Costs	5			2			—			7
Variable Lease Costs	—			—			3			3
Total Operating Lease Costs	$	9		$	4		$	7		$	20

Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	$	4		$	2		$	4		$	10

Weighted Average Remaining Lease Term in Years	13			20			11			13
Weighted Average Discount Rate	3.7		%	5.0		%	4.2		%	4.2		%

Lessee, Operating Lease, Liability, Maturity

The following is a reconciliation of the undiscounted cash flows to the discounted Operating Lease Liabilities recognized on the Condensed Consolidated Balance Sheets:




	As of March 31, 2019
	PSE&G			Power			Other			Total
	Millions
Undiscounted Cash Flows	$	115		$	70		$	179		$	364
Reconciling Amount due to Discount Rate	(25		)	(27		)	(37		)	(89		)
Total Discounted Operating Lease Liabilities	$	90		$	43		$	142		$	275

Operating Lease Liabilities as of March 31, 2019 had the following maturities:




	PSE&G		Power		Other		Total
	Millions
2019	$	11	$	5	$	12	$	28
2020	11		4		16		31
2021	10		4		16		30
2022	8		5		16		29
2023	8		3		15		26
2024	7		3		14		24
Thereafter	60		46		90		196
Total Minimum Lease Payments	$	115	$	70	$	179	$	364

Schedule of Future Minimum Rental Payments for Operating Leases

Operating Lease commitments as of December 31, 2018 had the following maturities:




	PSE&G		Power		Other		Total
	Millions
2019	$	15	$	11	$	15	$	41
2020	11		13		16		40
2021	10		13		16		39
2022	8		14		16		38
2023	8		8		15		31
Thereafter	66		51		105		222
Total Minimum Lease Payments	$	118	$	110	$	183	$	411

Operating Lease, Lease Income

The following is the Operating Lease Income for Power and Energy Holdings for the three months ended March 31, 2019:




	Power		Energy Holdings		Total
	Millions
Operating Lease Income
Fixed Lease Income	$	—	$	5	$	5
Variable Lease Income	4		—		4
Total Operating Lease Income	$	4	$	5	$	9

Lessor, Operating Lease, Payments to be Received, Maturity

Operating Leases had the following minimum future fixed lease receipts as of March 31, 2019:




	Millions
2019	$	19
2020	20
2021	18
2022	17
2023	17
2024	16
Thereafter	165
Total Minimum Future Lease Receipts	$	272