XML 40 R80.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Changes In Level 3 Assets And (Liabilities) Measured At Fair Value On A Recurring Basis) (Detail) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Settlements $ (1) $ (9) $ 9 $ (52)
Power [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Gains and losses attributable to changes in net derivative assets and liabilities, included in Operating Income 1 (1) (16) 40
Gains and losses attributable to changes in net derivative assets and liabilities, unrealized 1 (10) (7) (12)
Derivative [Member] | Power [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Transfers In (Out)     (4)  
Net Derivative Assets (Liabilities) [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Opening Balance (35) (36) (31) 21
Included in Income 1 [1] 1 [1] (16) [2] 40 [2]
Included in Regulatory Assets/Liabilities (11) 25 [3] (12) [3] (30) [3]
Purchases, (Sales) 0 0 0 0
Issuances (Settlements) (1) [4] 9 [4] 9 [4] (52) [4]
Transfers In (Out) 0 [5] 0 [5] 4 [5] 0 [5]
Closing Balance (46) (21) (46) (21)
Net Derivative Assets (Liabilities) [Member] | Power [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Opening Balance 6 22 9 24
Included in Income 1 [1] 1 [1] (16) [2] 40 [2]
Included in Regulatory Assets/Liabilities 0 [3] 0 [3] 0 [3] 0 [3]
Purchases, (Sales) 0 0 0 0
Issuances (Settlements) (1) [4] 9 [4] 9 [4] (52) [4]
Transfers In (Out) 0 [5] 0 [5] 4 [5] 0 [5]
Closing Balance 6 12 6 12
Net Derivative Assets (Liabilities) [Member] | PSE And G [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Opening Balance (41) (58) (40) (3)
Included in Income 0 [1] 0 [1] 0 [2] 0 [2]
Included in Regulatory Assets/Liabilities (11) [3] 25 [3] (12) [3] (30) [3]
Purchases, (Sales) 0 0 0 0
Issuances (Settlements) 0 [4] 0 [4] 0 [4] 0 [4]
Transfers In (Out) 0 [5] 0 [5] 0 [5] 0 [5]
Closing Balance (52) (33) (52) (33)
Non Recourse Debt [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Opening Balance       (50)
Included in Income       50 [2]
Included in Regulatory Assets/Liabilities       0 [3]
Purchases, (Sales)       0
Issuances (Settlements)       0 [4]
Transfers In (Out)       0 [5]
Closing Balance   0   0
Non Recourse Debt [Member] | PSEG [Member]
       
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Opening Balance   0    
Included in Income   0 [1]    
Included in Regulatory Assets/Liabilities   0 [3]    
Purchases, (Sales)   0    
Issuances (Settlements)   0 [4]    
Transfers In (Out)   0 [5]    
Closing Balance   $ 0   $ 0
[1] PSEG’s and Power’s gains and losses attributable to changes in net derivative assets and liabilities include $1 million and $(1) million in Operating Income in 2013 and 2012, respectively. The $1 million in Operating Income in 2013 is unrealized. Of the $(1) million in Operating Income in 2012, $(10) million is unrealized. Energy Holdings' release from its obligation under the non-recourse debt is included in PSEG's Operating Income for 2012 and is offset by the write-off of the related assets.
[2] PSEG’s and Power’s gains and losses attributable to changes in net derivative assets and liabilities include $(16) million and $40 million in Operating Income in 2013 and 2012, respectively. Of the $(16) million in Operating Income in 2013, $(7) million is unrealized. Of the $40 million in Operating Income in 2012, $(12) million is unrealized. Energy Holdings' release from its obligation under the non-recourse debt is included in PSEG's Operating Income for 2012 and is offset by the write-off of the related assets.
[3] Mainly includes gains/losses on PSE&G’s derivative contracts that are not included in either earnings or OCI, as they are deferred as a Regulatory Asset/Liability and are expected to be recovered from/returned to PSE&G’s customers.
[4] Represents $(1) million and $(9) million in settlements for the three months ended September 30, 2013 and 2012. Includes $9 million and $(52) million in settlements for the nine months ended September 30, 2013 and 2012, respectively.
[5] During the nine months ended September 30, 2013, $4 million of net derivatives assets/liabilities were transferred from Level 3 to Level 2 due to more observable pricing for the underlying securities. The transfer was recognized as of the beginning of the first quarter (i.e. the quarter in which the transfer occurred), as per PSEG's policy. There were no transfers among levels during the three months ended September 30, 2013 and 2012 and the nine months ended September 30, 2012.