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Leases
 6 Months Ended
Jun. 30, 2024
Leases Leases
PSEG and its subsidiaries are both a lessor and a lessee in operating leases. As of June 30, 2024, PSEG and its subsidiaries were lessors for leases classified as operating leases or leveraged leases. See Note 6. Financing Receivables. There was no significant
change in amounts reported in Note 7. Leases in the Annual Report on Form 10-K for the year ended December 31, 2023 for operating leases in which PSEG and its subsidiaries are lessees.
PSEG and its subsidiaries, as lessors, have lease agreements with lease and non-lease components, which are primarily related to generating facilities and real estate assets. Rental income from these leases is included in Operating Revenues.
A wholly owned subsidiary of PSEG Power is the lessor in an operating lease for certain parcels of land with terms through 2050, plus five optional renewal periods of ten years.
Energy Holdings is the lessor in leveraged leases. See Note 6. Financing Receivables.
Energy Holdings is the lessor in an operating lease for a domestic energy generation facility with a remaining term through 2036. As of June 30, 2024, Energy Holdings’ property subject to the lease had a total carrying value of $10 million.
The following is the operating lease income for the three months and six months ended June 30, 2024 and 2023:
Three Months EndedSix Months Ended
June 30,June 30,
2024202320242023
Millions
Fixed Lease Income$4 $6 $7 $12 
Total Operating Lease Income$4 $6 $7 $12 
Public Service Electric and Gas Company [Member]  
Leases Leases
PSEG and its subsidiaries are both a lessor and a lessee in operating leases. As of June 30, 2024, PSEG and its subsidiaries were lessors for leases classified as operating leases or leveraged leases. See Note 6. Financing Receivables. There was no significant
change in amounts reported in Note 7. Leases in the Annual Report on Form 10-K for the year ended December 31, 2023 for operating leases in which PSEG and its subsidiaries are lessees.
PSEG and its subsidiaries, as lessors, have lease agreements with lease and non-lease components, which are primarily related to generating facilities and real estate assets. Rental income from these leases is included in Operating Revenues.
A wholly owned subsidiary of PSEG Power is the lessor in an operating lease for certain parcels of land with terms through 2050, plus five optional renewal periods of ten years.
Energy Holdings is the lessor in leveraged leases. See Note 6. Financing Receivables.
Energy Holdings is the lessor in an operating lease for a domestic energy generation facility with a remaining term through 2036. As of June 30, 2024, Energy Holdings’ property subject to the lease had a total carrying value of $10 million.
The following is the operating lease income for the three months and six months ended June 30, 2024 and 2023:
Three Months EndedSix Months Ended
June 30,June 30,
2024202320242023
Millions
Fixed Lease Income$4 $6 $7 $12 
Total Operating Lease Income$4 $6 $7 $12