XML 59 R36.htm IDEA: XBRL DOCUMENT v3.21.2
Trust Investments (Tables)
 6 Months Ended
Jun. 30, 2021
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 June 30, 2021
CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
 Millions
Equity Securities
Domestic $483 $330 $— $813 
International338 134 (6)466 
Total Equity Securities821 464 (6)1,279 
Available-for-Sale Debt Securities
Government 703 15 (6)712 
Corporate613 25 (3)635 
Total Available-for-Sale Debt Securities1,316 40 (9)1,347 
Total NDT Fund Investments (A)$2,137 $504 $(15)$2,626 
(A)The NDT Fund Investments table excludes foreign currency of $2 million as of June 30, 2021, which is part of the NDT Fund.
As of December 31, 2020
CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Millions
Equity Securities
Domestic$519 $305 $(3)$821 
International388 152 (9)531 
Total Equity Securities907 457 (12)1,352 
Available-for-Sale Debt Securities
Government 555 27 (1)581 
Corporate528 39 (1)566 
Total Available-for-Sale Debt Securities1,083 66 (2)1,147 
Total NDT Fund Investments (A)$1,990 $523 $(14)$2,499 
(A)The NDT Fund Investments table excludes foreign currency of $2 million as of December 31, 2020, which is part of the NDT Fund.
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 ofAs of
June 30,
2021		December 31,
2020
Millions
Accounts Receivable$19 $11 
Accounts Payable$36 $12 
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 June 30, 2021As of December 31, 2020
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$12 $— $— $— $23 $(2)$6 $(1)
International39 (4)9 (2)26 (2)27 (7)
Total Equity Securities 51 (4)9 (2)49 (4)33 (8)
Available-for-Sale Debt Securities
Government (B)277 (6)6 — 72 (1)— — 
Corporate (C)156 (3)8 — 31 (1)7 — 
Total Available-for-Sale Debt Securities433 (9)14 — 103 (2)7 — 
NDT Trust Investments$484 $(13)$23 $(2)$152 $(6)$40 $(8)
(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 PSEG Power’s NDT investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG Power also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG Power did not recognize credit losses for municipal bonds because they are primarily investment grade securities.
(C)Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for these corporate bonds because they are primarily investment grade securities.
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 EndedSix Months Ended
June 30,June 30,
2021202020212020
Millions
Proceeds from NDT Fund Sales (A)$538 $493 $1,135 $1,048 
Net Realized Gains (Losses) on NDT Fund
Gross Realized Gains$83 $32 $162 $70 
Gross Realized Losses(23)(20)(38)(54)
Net Realized Gains (Losses) on NDT Fund (B)60 12 124 16 
Unrealized Gains (Losses) on Equity Securities20 182 13 (39)
Impairment of Available-for-Sale Debt Securities (C)— — — (3)
Net Gains (Losses) on NDT Fund Investments $80 $194 $137 $(26)
(A)Includes activity in accounts related to the liquidation of funds being transitioned within the trust.
(B)The cost of these securities was determined on the basis of specific identification.
(C)PSEG Power recognized an impairment of available-for-sale debt securities in 2020. PSEG Power’s policy is to sell all securities that are rated below investment grade.
Amount Of Available-For-Sale Debt Securities By Maturity Periods
The NDT Fund debt securities held as of June 30, 2021 had the following maturities:
Time FrameFair Value
 Millions
Less than one year$35 
1 - 5 years344 
6 - 10 years252 
11 - 15 years86 
16 - 20 years97 
Over 20 years533 
Total NDT Available-for-Sale Debt Securities$1,347 
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 June 30, 2021As of December 31, 2020
 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)$56 $(2)$— $— $19 $— $— $— 
Corporate (B)23 — 1 — 2 — 1 — 
Total Available-for-Sale Debt Securities79 (2)1 — 21 — 1 — 
Rabbi Trust Investments$79 $(2)$1 $— $21 $— $1 $— 
(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. PSEG also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG did not recognize credit losses for municipal bonds because they are primarily investment grade securities.
(B)Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG did not recognize credit losses for these corporate bonds because they are primarily investment grade.
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 June 30, 2021
CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Millions
Domestic Equity Securities$15 $11 $— $26 
Available-for-Sale Debt Securities
Government99 3 (2)100 
Corporate111 7 — 118 
Total Available-for-Sale Debt Securities210 10 (2)218 
Other Securities1 — — 1 
Total Rabbi Trust Investments$226 $21 $(2)$245 
As of December 31, 2020
CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Millions
Domestic Equity Securities$21 $10 $— $31 
Available-for-Sale Debt Securities
Government94 6 — 100 
Corporate123 12 — 135 
Total Available-for-Sale Debt Securities217 18 — 235 
Total Rabbi Trust Investments$238 $28 $— $266 
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 ofAs of
June 30,
2021		December 31,
2020
 Millions
Accounts Receivable$1 $1 
Accounts Payable$— $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 on securities in the Rabbi Trust Fund were:
Three Months EndedSix Months Ended
June 30,June 30,
2021202020212020
Millions
Proceeds from Rabbi Trust Sales$29 $61 $94 $115 
Net Realized Gains (Losses) on Rabbi Trust:
Gross Realized Gains$2 $5 $7 $10 
Gross Realized Losses(1)(2)(3)(3)
Net Realized Gains (Losses) on Rabbi Trust (A)1 3 4 7 
Unrealized Gains (Losses) on Equity Securities — 4 — (1)
Net Gains (Losses) on Rabbi Trust Investments $1 $7 $4 $6 
(A)The cost of these securities was determined on the basis of specific identification.
Amount Of Available-For-Sale Debt Securities By Maturity Periods
The Rabbi Trust debt securities held as of June 30, 2021 had the following maturities:
Time FrameFair Value
 Millions
Less than one year$— 
1 - 5 years43 
6 - 10 years22 
11 - 15 years11 
16 - 20 years28 
Over 20 years114 
Total Rabbi Trust Available-for-Sale Debt Securities$218 
Fair Value Of The Rabbi Trusts
The fair value of the Rabbi Trust related to PSE&G, PSEG Power and PSEG’s other subsidiaries is detailed as follows:
As ofAs of
June 30,
2021		December 31,
2020
 Millions
PSE&G$44 $51 
PSEG Power64 66 
Other137 149 
Total Rabbi Trust Investments$245 $266