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Available-for-Sale Securities (Tables)
3 Months Ended
Mar. 31, 2015
Fair Values And Gross Unrealized Gains And Losses For The Securities Held In The NDT Fund
 
 
 
 
 
 
 
 
 
 
 
 
As of March 31, 2015
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
Millions
 
 
Equity Securities
$
692

 
$
239

 
$
(8
)
 
$
923

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
Government Obligations
486

 
12

 

 
498

 
 
Other Debt Securities
360

 
12

 
(3
)
 
369

 
 
Total Debt Securities
846

 
24

 
(3
)
 
867

 
 
Other Securities
31

 

 

 
31

 
 
Total NDT Available-for-Sale Securities
$
1,569

 
$
263

 
$
(11
)
 
$
1,821

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2014
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
Millions
 
 
Equity Securities
$
685

 
$
220

 
$
(8
)
 
$
897

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
Government Obligations
430

 
9

 
(1
)
 
438

 
 
Other Debt Securities
333

 
9

 
(3
)
 
339

 
 
Total Debt Securities
763

 
18

 
(4
)
 
777

 
 
Other Securities
106

 

 

 
106

 
 
Total NDT Available-for-Sale Securities
$
1,554

 
$
238

 
$
(12
)
 
$
1,780

 
 
 
 
 
 
 
 
 
 
 
Schedule Of Accounts Receivable And Accounts Payable in the NDT Funds
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
March 31,
2015
 
December 31,
2014
 
 
 
Millions
 
 
Accounts Receivable
$
11

 
$
10

 
 
Accounts Payable
$
7

 
$
2

 
 
 
 
 
 
 
Value Of Securities That Have Been In An Unrealized Loss Position For Less Than And Greater Than 12 Months
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of March 31, 2015
 
As of December 31, 2014
 
 
 
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)
$
122

 
$
(8
)
 
$

 
$

 
$
162

 
$
(8
)
 
$
1

 
$

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government Obligations (B)
31

 

 
16

 

 
95

 

 
28

 
(1
)
 
 
Other Debt Securities (C)
52

 
(1
)
 
24

 
(2
)
 
99

 
(1
)
 
30

 
(2
)
 
 
Total Debt Securities
83

 
(1
)
 
40

 
(2
)
 
194

 
(1
)
 
58

 
(3
)
 
 
NDT Available-for-Sale Securities
$
205

 
$
(9
)
 
$
40

 
$
(2
)
 
$
356

 
$
(9
)
 
$
59

 
$
(3
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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. The unrealized losses are distributed over a broad range of securities with limited impairment durations. Power does not consider these securities to be other-than-temporarily impaired as of March 31, 2015.
(B)
Debt Securities (Government)—Unrealized losses on Power’s NDT investments in United States Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. Since these investments are guaranteed by the United States government or an agency of the United States government, it is not expected that these securities will settle for less than their amortized cost basis, since Power does not intend to sell nor will it be more-likely-than-not required to sell. Power does not consider these securities to be other-than-temporarily impaired as of March 31, 2015.
(C)
Debt Securities (Other)—Power’s investments in corporate bonds, collateralized mortgage obligations, asset-backed securities and municipal government obligations are limited to investment grade securities. It is not expected that these securities would settle for less than their amortized cost. Since Power does not intend to sell these securities nor will it be more-likely-than-not required to sell, Power does not consider these debt securities to be other-than-temporarily impaired as of March 31, 2015.
Proceeds From The Sales Of And The Net Realized Gains On Securities In The NDT Funds And Rabbi Trusts
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
March 31,
 
 
 
2015
 
2014
 
 
 
Millions
 
 
Proceeds from NDT Fund Sales (A)
$
590

 
$
245

 
 
Net Realized Gains (Losses) on NDT Fund:
 
 
 
 
 
Gross Realized Gains
19

 
23

 
 
Gross Realized Losses
(9
)
 
(4
)
 
 
Net Realized Gains (Losses) on NDT Fund
$
10

 
$
19

 
 
 
 
 
 
 

(A)
Includes activity in accounts related to the liquidation of funds being transitioned to new managers
Amount Of Available-For-Sale Debt Securities By Maturity Periods
 
 
 
 
 
 
Time Frame
 
Fair Value
 
 
 
 
Millions
 
 
Less than one year
 
$
5

 
 
1 - 5 years
 
242

 
 
6 - 10 years
 
193

 
 
11 - 15 years
 
61

 
 
16 - 20 years
 
45

 
 
Over 20 years
 
321

 
 
Total NDT Available-for-Sale Debt Securities
$
867

 
 
 
 
 
 
Rabbi Trust [Member]  
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 and greater than 12 months.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of March 31, 2015
 
As of December 31, 2014
 
 
 
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)
$

 
$

 
$

 
$

 
$

 
$

 
$

 
$

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government Obligations (B)
6

 

 

 

 
2

 

 

 

 
 
Other Debt Securities (C)
25

 

 

 

 
24

 

 

 

 
 
Total Debt Securities
31

 

 

 

 
26

 

 

 

 
 
Rabbi Trust Available-for-Sale Securities
$
31

 
$

 
$

 
$

 
$
26

 
$

 
$

 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(A)
Equity Securities—Investments in marketable equity securities within the Rabbi Trust Fund are through a mutual fund which invests primarily in common stocks within a broad range of industries and sectors.
(B)
Debt Securities (Government)—Unrealized losses on PSEG’s Rabbi Trust investments in United States Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. Since these investments are guaranteed by the United States government or an agency of the United States government, it is not expected that these securities will settle for less than their amortized cost basis, since PSEG does not intend to sell nor will it be more-likely-than-not required to sell. PSEG does not consider these securities to be other-than-temporarily impaired as of March 31, 2015.
(C)
Debt Securities (Other)—PSEG’s investments in corporate bonds, collateralized mortgage obligations, asset-backed securities and municipal government obligations are limited to investment grade securities. It is not expected that these securities would settle for less than their amortized cost. Since PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell, PSEG does not consider these debt securities to be other-than-temporarily impaired as of March 31, 2015.
Securities Held In The Rabbi Trusts
 
 
 
 
 
 
 
 
 
 
 
 
As of March 31, 2015
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
Millions
 
 
Equity Securities
$
11

 
$
11

 
$

 
$
22

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
Government Obligations
107

 
2

 

 
109

 
 
Other Debt Securities
79

 
1

 

 
80

 
 
Total Debt Securities
186

 
3

 

 
189

 
 
Other Securities
3

 

 

 
3

 
 
Total Rabbi Trust Available-for-Sale Securities
$
200

 
$
14

 
$

 
$
214

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2014
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
Millions
 
 
Equity Securities
$
12

 
$
11

 
$

 
$
23

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
Government Obligations
89

 
2

 

 
91

 
 
Other Debt Securities
74

 
1

 

 
75

 
 
Total Debt Securities
163

 
3

 

 
166

 
 
Other Securities
2

 

 

 
2

 
 
Total Rabbi Trust Available-for-Sale Securities
$
177

 
$
14

 
$

 
$
191

 
 
 
 
 
 
 
 
 
 
 
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 of
 
As of
 
 
 
March 31,
2015
 
December 31,
2014
 
 
 
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
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
March 31,
 
 
 
2015
 
2014
 
 
 
Millions
 
 
Proceeds from Rabbi Trust Sales (A)
$
19

 
$
12

 
 
Net Realized Gains (Losses) on Rabbi Trust:
 
 
 
 
 
Gross Realized Gains
$

 
$
2

 
 
Gross Realized Losses

 

 
 
Net Realized Gains (Losses) on Rabbi Trust
$

 
$
2

 
 
 
 
 
 
 

(A)
Includes activity in accounts related to the liquidation of funds being transitioned to new managers
Amount Of Available-For-Sale Debt Securities By Maturity Periods
 
 
 
 
 
 
Time Frame
 
Fair Value
 
 
 
 
Millions
 
 
Less than one year
 
$

 
 
1 - 5 years
 
62

 
 
6 - 10 years
 
35

 
 
11 - 15 years
 
9

 
 
16 - 20 years
 
7

 
 
Over 20 years
 
76

 
 
Total Rabbi Trust Available-for-Sale Debt Securities
$
189

 
 
 
 
 
 
Fair Value Of The Rabbi Trusts
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
March 31,
2015
 
December 31,
2014
 
 
 
Millions
 
 
PSE&G
$
42

 
$
41

 
 
Power
53

 
45

 
 
Other
119

 
105

 
 
Total Rabbi Trust Available-for-Sale Securities
$
214

 
$
191