Income Taxes (Tables)

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Schedule Of Effective Tax Rates

A reconciliation of reported income tax expense for PSEG with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows:

	Three Months Ended						Nine Months Ended
PSEG	September 30,						September 30,
	2024			2023			2024			2023
	Millions
Pre-Tax Income	$	559		$	65		$	1,625		$	2,394
Tax Computed at Statutory Rate @ 21% Increase (Decrease) Attributable to:	$	117		$	14		$	341		$	503
State Income Taxes (net of federal income tax)		38			(1	)		112			157
NDT Fund		11			(3	)		26			11
Uncertain Tax Positions		1			1			3			(6	)
Leasing Activities		—			—			—			(17	)
GPRC-CEF-EE		(16	)		(13	)		(44	)		(36	)
Tax Credits		(90	)		(2	)		(195	)		(7	)
Estimated Annual Effective Tax Rate Interim Period Adjustment		14			9			1			(7	)
TAC		(33	)		(62	)		(100	)		(188	)
Other		(3	)		(17	)		(5	)		(33	)
Subtotal		(78	)		(88	)		(202	)		(126	)
Total Income Tax Expense (Benefit)	$	39		$	(74	)	$	139		$	377
Effective Income Tax Rate		7.0	%	N/A				8.6	%		15.7	%

A reconciliation of reported income tax expense for PSE&G with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows:

	Three Months Ended						Nine Months Ended
PSE&G	September 30,						September 30,
	2024			2023			2024			2023
	Millions
Pre-Tax Income	$	469		$	454		$	1,410		$	1,365
Tax Computed at Statutory Rate @ 21% Increase (Decrease) Attributable to:	$	98		$	95		$	296		$	287
State Income Taxes (net of federal income tax)		32			33			99			100
Uncertain Tax Positions		—			—			—			(5	)
Tax Credits		(2	)		(2	)		(6	)		(7	)
GPRC-CEF-EE		(16	)		(13	)		(44	)		(36	)
TAC		(33	)		(62	)		(100	)		(188	)
Bad Debt Flow-Through		(3	)		(2	)		(9	)		(9	)
Other		14			4			5			(1	)
Subtotal		(8	)		(42	)		(55	)		(146	)
Total Income Tax Expense	$	90		$	53		$	241		$	141
Effective Income Tax Rate		19.2	%		11.7	%		17.1	%		10.3	%