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Trust Investments (Tables)
 3 Months Ended
Mar. 31, 2019
Schedule of Trust Investments [Line Items]  
Fair Values And Gross Unrealized Gains And Losses For The Securities Held In The NDT Fund
The following tables show the fair values and gross unrealized gains and losses for the securities held in the NDT Fund.
 
 
 
 
 
 
 
 
 
 
 
 
As of March 31, 2019
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
Millions
 
 
Equity Securities
 
 
 
 
 
 
 
 
 
Domestic
$
423

 
$
183

 
$
(6
)
 
$
600

 
 
International
388

 
68

 
(16
)
 
440

 
 
Total Equity Securities
811

 
251

 
(22
)
 
1,040

 
 
Available-for Sale Debt Securities
 
 
 
 
 
 
 
 
 
Government
509

 
6

 
(3
)
 
512

 
 
Corporate
495

 
6

 
(4
)
 
497

 
 
Total Available-for-Sale Debt Securities
1,004

 
12

 
(7
)
 
1,009

 
 
Total NDT Fund Investments
$
1,815

 
$
263

 
$
(29
)
 
$
2,049

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2018
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
Millions
 
 
Equity Securities
 
 
 
 
 
 
 
 
 
Domestic
$
447

 
$
153

 
$
(29
)
 
$
571

 
 
International
323

 
36

 
(30
)
 
329

 
 
Total Equity Securities
770

 
189

 
(59
)
 
900

 
 
Available-for Sale Debt Securities
 
 
 
 
 
 
 
 
 
Government
498

 
2

 
(9
)
 
491

 
 
Corporate
501

 
1

 
(15
)
 
487

 
 
Total Available-for-Sale Debt Securities
999

 
3

 
(24
)
 
978

 
 
Total NDT Fund Investments
$
1,769

 
$
192

 
$
(83
)
 
$
1,878

 
 
 
 
 
 
 
 
 
 
 
Schedule Of Accounts Receivable And Accounts Payable in the NDT Funds
The amounts in the preceding tables do not include receivables and payables for NDT Fund transactions which have not settled at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets as shown in the following table.
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
March 31,
2019
 
December 31,
2018
 
 
 
Millions
 
 
Accounts Receivable
$
16

 
$
17

 
 
Accounts Payable
$
14

 
$
5

 
 
 
 
 
 
 
Value Of Securities That Have Been In An Unrealized Loss Position For Less Than And Greater Than 12 Months
The following table shows the value of securities in the NDT Fund that have been in an unrealized loss position for less than and greater than 12 months.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of March 31, 2019
 
As of December 31, 2018
 
 
 
Less Than 12
Months
 
Greater Than 12
Months
 
Less Than 12
Months
 
Greater Than 12
Months
 
 
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
 
 
Millions
 
 
Equity Securities (A)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
$
45

 
$
(5
)
 
$
4

 
$
(1
)
 
$
147

 
$
(26
)
 
$
5

 
$
(3
)
 
 
International
76

 
(10
)
 
20

 
(6
)
 
131

 
(28
)
 
5

 
(2
)
 
 
Total Equity Securities
121

 
(15
)
 
24

 
(7
)
 
278

 
(54
)
 
10

 
(5
)
 
 
Available-for Sale Debt Securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government (B)
23

 
—

 
225

 
(3
)
 
51

 
—

 
317

 
(9
)
 
 
Corporate (C)
20

 
—

 
190

 
(4
)
 
150

 
(5
)
 
222

 
(10
)
 
 
Total Available-for-Sale Debt Securities
43

 
—

 
415

 
(7
)
 
201

 
(5
)
 
539

 
(19
)
 
 
NDT Trust Investments
$
164

 
$
(15
)
 
$
439

 
$
(14
)
 
$
479

 
$
(59
)
 
$
549

 
$
(24
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(A)
Equity Securities—Investments in marketable equity securities within the NDT Fund are primarily in common stocks within a broad range of industries and sectors. Unrealized gains and losses on these securities are recorded in Net Income.
(B)
Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on Power’s NDT investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. These investments are guaranteed by the U.S. government or an agency of the U.S. government. Power also has investments in municipal bonds that are primarily in investment grade securities. It is not expected that these securities will settle for less than their amortized cost. Since Power does not intend to sell these securities nor will it be more-likely-than-not required to sell, Power does not consider these debt securities to be other-than-temporarily impaired as of March 31, 2019.
(C)
Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Power’s investments in corporate bonds are primarily in investment grade securities. It is not expected that these securities would settle for less than their amortized cost. Since Power does not intend to sell these securities nor will it be more-likely-than-not required to sell, Power does not consider these debt securities to be other-than-temporarily impaired as of March 31, 2019
Proceeds From The Sales Of And The Net Realized Gains On Securities In The NDT Funds And Rabbi Trusts
The proceeds from the sales of and the net gains (losses) on securities in the NDT Fund were:
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
March 31,
 
 
 
2019
 
2018
 
 
 
Millions
 
 
Proceeds from NDT Fund Sales (A)
$
453

 
$
372

 
 
Net Realized Gains (Losses) on NDT Fund
 
 
 
 
 
Gross Realized Gains
$
45

 
$
24

 
 
Gross Realized Losses
(19
)
 
(12
)
 
 
Net Realized Gains (Losses) on NDT Fund (B)
$
26

 
$
12

 
 
Unrealized Gains (Losses) on Equity Securities in NDT Fund
99

 
(34
)
 
 
Net Gains (Losses) on NDT Fund Investments
$
125

 
$
(22
)
 
 
 
 
 
 
 

(A)Includes activity in accounts related to the liquidation of funds being transitioned to new managers.
(B)The cost of these securities was determined on the basis of specific identification.
Amount Of Available-For-Sale Debt Securities By Maturity Periods
The NDT Fund debt securities held as of March 31, 2019 had the following maturities:
 
 
 
 
 
 
Time Frame
 
Fair Value
 
 
 
 
Millions
 
 
Less than one year
 
$
13

 
 
1 - 5 years
 
257

 
 
6 - 10 years
 
215

 
 
11 - 15 years
 
44

 
 
16 - 20 years
 
71

 
 
Over 20 years
 
409

 
 
Total NDT Available-for-Sale Debt Securities
$
1,009

 
 
 
 
 
 
Rabbi Trust [Member]  
Schedule of Trust Investments [Line Items]  
Value Of Securities That Have Been In An Unrealized Loss Position For Less Than And Greater Than 12 Months
The following table shows the value of securities in the Rabbi Trust Fund that have been in an unrealized loss position for less than 12 months and greater than 12 months.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of March 31, 2019
 
As of December 31, 2018
 
 
 
Less Than 12
Months
 
Greater Than 12
Months
 
Less Than 12
Months
 
Greater Than 12
Months
 
 
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
 
 
Millions
 
 
Available-for-Sale Debt Securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government (A)
$
—

 
$
—

 
$
27

 
$
—

 
$
18

 
$
—

 
$
59

 
$
(2
)
 
 
Corporate (B)
6

 
—

 
30

 
(1
)
 
50

 
(3
)
 
29

 
(1
)
 
 
Total Available-for-Sale Debt Securities
6

 
—

 
57

 
(1
)
 
68

 
(3
)
 
88

 
(3
)
 
 
Rabbi Trust Investments
$
6

 
$
—

 
$
57

 
$
(1
)
 
$
68

 
$
(3
)
 
$
88

 
$
(3
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(A)
Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG’s Rabbi Trust investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. These investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG also has investments in municipal bonds that are primarily in investment grade securities. It is not expected that these securities will settle for less than their amortized cost. Since PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell, PSEG does not consider these debt securities to be other-than-temporarily impaired as of March 31, 2019.
(B)
Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). PSEG’s investments in corporate bonds are primarily in investment grade securities. It is not expected that these securities would settle for less than their amortized cost. Since PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell, PSEG does not consider these debt securities to be other-than-temporarily impaired as of March 31, 2019.
Securities Held In The Rabbi Trusts
The following tables show the fair values, gross unrealized gains and losses and amortized cost basis for the securities held in the Rabbi Trust.
 
 
 
 
 
 
 
 
 
 
 
 
As of March 31, 2019
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
Millions
 
 
Domestic Equity Securities
$
22

 
$
3

 
$
—

 
$
25

 
 
Available-for-Sale Debt Securities
 
 
 
 
 
 
 
 
 
Government
108

 
2

 
—

 
110

 
 
Corporate
97

 
2

 
(1
)
 
98

 
 
Total Available-for-Sale Debt Securities
205

 
4

 
(1
)
 
208

 
 
Total Rabbi Trust Investments
$
227

 
$
7

 
$
(1
)
 
$
233

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2018
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
Millions
 
 
Domestic Equity Securities
$
22

 
$
1

 
$
—

 
$
23

 
 
Available-for-Sale Debt Securities
 
 
 
 
 
 
 
 
 
Government
110

 
1

 
(2
)
 
109

 
 
Corporate
96

 
—

 
(4
)
 
92

 
 
Total Available-for-Sale Debt Securities
206

 
1

 
(6
)
 
201

 
 
Total Rabbi Trust Investments
$
228

 
$
2

 
$
(6
)
 
$
224

 
 
 
 
 
 
 
 
 
 
 
Schedule of Accounts Receivable and Accounts Payable in the Rabbi Trust Funds [Table Text Block]
The amounts in the preceding tables do not include receivables and payables for Rabbi Trust Fund transactions which have not settled at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets as shown in the following table.
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
March 31,
2019
 
December 31,
2018
 
 
 
Millions
 
 
Accounts Receivable
$
2

 
$
2

 
 
Accounts Payable
$
1

 
$
—

 
 
 
 
 
 
 
Proceeds From The Sales Of And The Net Realized Gains On Securities In The NDT Funds And Rabbi Trusts
The proceeds from the sales of and the net gains (losses) on securities in the Rabbi Trust Fund were:
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
March 31,
 
 
 
2019
 
2018
 
 
 
Millions
 
 
Proceeds from Rabbi Trust Sales (A)
$
44

 
$
25

 
 
Net Realized Gains (Losses) on Rabbi Trust:
 
 
 
 
 
Gross Realized Gains
$
1

 
$
2

 
 
Gross Realized Losses
(1
)
 
(2
)
 
 
Net Realized Gains (Losses) on Rabbi Trust (B)
—

 
—

 
 
Unrealized Gains (Losses) on Equity Securities in Rabbi Trust
3

 
—

 
 
Net Gains (Losses) on Rabbi Trust Investments
$
3

 
$
—

 
 
 
 
 
 
 

(A)Includes activity in accounts related to the liquidation of funds being transitioned to new managers.
(B)The cost of these securities was determined on the basis of specific identification.
Amount Of Available-For-Sale Debt Securities By Maturity Periods
The Rabbi Trust debt securities held as of March 31, 2019 had the following maturities:
 
 
 
 
 
 
Time Frame
 
Fair Value
 
 
 
 
Millions
 
 
Less than one year
 
$
—

 
 
1 - 5 years
 
33

 
 
6 - 10 years
 
30

 
 
11 - 15 years
 
10

 
 
16 - 20 years
 
25

 
 
Over 20 years
 
110

 
 
Total Rabbi Trust Available-for-Sale Debt Securities
$
208

 
 
 
 
 
 
Fair Value Of The Rabbi Trusts
The fair value of the Rabbi Trust related to PSEG, PSE&G and Power are detailed as follows:
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
March 31,
2019
 
December 31,
2018
 
 
 
Millions
 
 
PSE&G
$
46

 
$
45

 
 
Power
59

 
56

 
 
Other
128

 
123

 
 
Total Rabbi Trust Investments
$
233

 
$
224