Discontinued Operations and Dispositions

12 Months Ended

Dec. 31, 2013

Discontinued Operations and Dispositions

Discontinued Operations and Dispositions

Discontinued Operations

Power

In March 2011, Power completed the sale of its 1,000 MW gas-fired Guadalupe generating facility for a total sale price of $352 million, resulting in an after-tax gain of $54 million.

In July 2011, Power completed the sale of its 1,000 MW gas-fired Odessa generating facility for a total sale price of $335 million, resulting in an after-tax gain of $25 million.

PSEG Texas’ operating results for the year ended December 31, 2011, which were reclassified to Discontinued Operations, are summarized below:

	Year Ended December 31, 2011
	Millions
Operating Revenues	$	112
Income Before Income Taxes	$	26
Net Income (Loss)	$	17

Dispositions

Leveraged Leases

For the year ended December 31, 2011, Energy Holdings sold its leveraged lease investment in an office building in Denver, Colorado for gross proceeds of $215 million. Proceeds net of sales costs were $175 million with an after-tax gain of $34 million.

Other Leases

In June 2013, Energy Holdings closed on the sale of its investments in a commercial office complex for proceeds of $41 million, resulting in an after-tax gain of $6 million.

Power [Member]

Discontinued Operations and Dispositions

Discontinued Operations and Dispositions

Discontinued Operations

Power

In March 2011, Power completed the sale of its 1,000 MW gas-fired Guadalupe generating facility for a total sale price of $352 million, resulting in an after-tax gain of $54 million.

In July 2011, Power completed the sale of its 1,000 MW gas-fired Odessa generating facility for a total sale price of $335 million, resulting in an after-tax gain of $25 million.

PSEG Texas’ operating results for the year ended December 31, 2011, which were reclassified to Discontinued Operations, are summarized below:

	Year Ended December 31, 2011
	Millions
Operating Revenues	$	112
Income Before Income Taxes	$	26
Net Income (Loss)	$	17

Dispositions

Leveraged Leases

For the year ended December 31, 2011, Energy Holdings sold its leveraged lease investment in an office building in Denver, Colorado for gross proceeds of $215 million. Proceeds net of sales costs were $175 million with an after-tax gain of $34 million.

Other Leases

In June 2013, Energy Holdings closed on the sale of its investments in a commercial office complex for proceeds of $41 million, resulting in an after-tax gain of $6 million.