Guarantees of Debt

12 Months Ended

Dec. 31, 2015

Subsidiary or Equity Method Investee [Line Items]

Guarantees of Debt

Guarantees of Debt

Power’s Senior Notes are fully and unconditionally and jointly and severally guaranteed by its subsidiaries, PSEG Fossil LLC, PSEG Nuclear LLC and PSEG Energy Resources & Trade LLC. The following table presents financial information for the guarantor subsidiaries as well as Power’s non-guarantor subsidiaries as of December 31, 2015 and 2014 and for the years ended December 31, 2015, 2014 and 2013.

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Year Ended December 31, 2015
Operating Revenues	$	—		$	4,883		$	179		$	(134	)	$	4,928
Operating Expenses	12			3,451			169			(134		)	3,498
Operating Income (Loss)	(12		)	1,432			10			—			1,430
Equity Earnings (Losses) of Subsidiaries	906			(4		)	14			(902		)	14
Other Income	48			174			—			(53		)	169
Other Deductions	(27		)	(45		)	—			—			(72		)
Other-Than-Temporary Impairments	—			(53		)	—			—			(53		)
Interest Expense	(116		)	(39		)	(19		)	53			(121		)
Income Tax Benefit (Expense)	57			(574		)	6			—			(511		)
Net Income (Loss)	$	856		$	891		$	11		$	(902	)	$	856
Comprehensive Income (Loss)	$	844		$	855		$	11		$	(866	)	$	844
As of December 31, 2015
Current Assets	$	4,501		$	1,912		$	364		$	(4,828	)	$	1,949
Property, Plant and Equipment, net	83			6,502			1,542			—			8,127
Investment in Subsidiaries	4,501			346			—			(4,847		)	—
Noncurrent Assets	155			1,959			136			(76		)	2,174
Total Assets	$	9,240		$	10,719		$	2,042		$	(9,751	)	$	12,250
Current Liabilities	$	1,112		$	3,866		$	1,076		$	(4,828	)	$	1,226
Noncurrent Liabilities	442			2,597			375			(76		)	3,338
Long-Term Debt	1,684			—			—			—			1,684
Member’s Equity	6,002			4,256			591			(4,847		)	6,002
Total Liabilities and Member’s Equity	$	9,240		$	10,719		$	2,042		$	(9,751	)	$	12,250
Year Ended December 31, 2015
Net Cash Provided By (Used In) Operating Activities	$	571		$	2,089		$	80		$	(1,034	)	$	1,706
Net Cash Provided By (Used In) Investing Activities	$	(366	)	$	(1,519	)	$	(430	)	$	1,314		$	(1,001	)
Net Cash Provided By (Used In) Financing Activities	$	(205	)	$	(571	)	$	354		$	(280	)	$	(702	)

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Year Ended December 31, 2014
Operating Revenues	$	—		$	5,390		$	153		$	(109	)	$	5,434
Operating Expenses	16			4,175			143			(109		)	4,225
Operating Income (Loss)	(16		)	1,215			10			—			1,209
Equity Earnings (Losses) of Subsidiaries	799			(5		)	14			(794		)	14
Other Income	34			222			—			(34		)	222
Other Deductions	(20		)	(32		)	—			—			(52		)
Other-Than-Temporary Impairments	—			(20		)	—			—			(20		)
Interest Expense	(102		)	(35		)	(19		)	34			(122		)
Income Tax Benefit (Expense)	65			(558		)	2			—			(491		)
Net Income (Loss)	$	760		$	787		$	7		$	(794	)	$	760
Comprehensive Income (Loss)	$	595		$	768		$	7		$	(775	)	$	595
As of December 31, 2014
Current Assets	$	4,263		$	2,037		$	150		$	(4,091	)	$	2,359
Property, Plant and Equipment, net	81			6,265			1,169			—			7,515
Investment in Subsidiaries	4,516			120			—			(4,636		)	—
Noncurrent Assets	269			1,952			137			(195		)	2,163
Total Assets	$	9,129		$	10,374		$	1,456		$	(8,922	)	$	12,037
Current Liabilities	$	883		$	3,606		$	786		$	(4,091	)	$	1,184
Noncurrent Liabilities	454			2,442			360			(195		)	3,061
Long-Term Debt	2,234			—			—			—			2,234
Member’s Equity	5,558			4,326			310			(4,636		)	5,558
Total Liabilities and Member’s Equity	$	9,129		$	10,374		$	1,456		$	(8,922	)	$	12,037
Year Ended December 31, 2014
Net Cash Provided By (Used In) Operating Activities	$	577		$	1,674		$	76		$	(902	)	$	1,425
Net Cash Provided By (Used In) Investing Activities	$	148		$	(856	)	$	(42	)	$	226		$	(524	)
Net Cash Provided By (Used In) Financing Activities	$	(724	)	$	(818	)	$	(32	)	$	676		$	(898	)

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Year Ended December 31, 2013
Operating Revenues	$	—		$	5,022		$	190		$	(149	)	$	5,063
Operating Expenses	23			3,945			174			(149		)	3,993
Operating Income (Loss)	(23		)	1,077			16			—			1,070
Equity Earnings (Losses) of Subsidiaries	684			(5		)	16			(679		)	16
Other Income	35			157			—			(38		)	154
Other Deductions	(14		)	(35		)	—			—			(49		)
Other-Than-Temporary Impairments	—			(12		)	—			—			(12		)
Interest Expense	(93		)	(42		)	(19		)	38			(116		)
Income Tax Benefit (Expense)	55			(474		)	—			—			(419		)
Net Income (Loss)	$	644		$	666		$	13		$	(679	)	$	644
Comprehensive Income (Loss)	$	909		$	713		$	11		$	(724	)	$	909
Year Ended December 31, 2013
Net Cash Provided By (Used In) Operating Activities	$	288		$	1,503		$	82		$	(526	)	$	1,347
Net Cash Provided By (Used In) Investing Activities	$	(395	)	$	(1,092	)	$	(71	)	$	697		$	(861	)
Net Cash Provided By (Used In) Financing Activities	$	107		$	(412	)	$	(11	)	$	(171	)	$	(487	)

Power [Member]

Subsidiary or Equity Method Investee [Line Items]

Guarantees of Debt

Guarantees of Debt

Power’s Senior Notes are fully and unconditionally and jointly and severally guaranteed by its subsidiaries, PSEG Fossil LLC, PSEG Nuclear LLC and PSEG Energy Resources & Trade LLC. The following table presents financial information for the guarantor subsidiaries as well as Power’s non-guarantor subsidiaries as of December 31, 2015 and 2014 and for the years ended December 31, 2015, 2014 and 2013.

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Year Ended December 31, 2015
Operating Revenues	$	—		$	4,883		$	179		$	(134	)	$	4,928
Operating Expenses	12			3,451			169			(134		)	3,498
Operating Income (Loss)	(12		)	1,432			10			—			1,430
Equity Earnings (Losses) of Subsidiaries	906			(4		)	14			(902		)	14
Other Income	48			174			—			(53		)	169
Other Deductions	(27		)	(45		)	—			—			(72		)
Other-Than-Temporary Impairments	—			(53		)	—			—			(53		)
Interest Expense	(116		)	(39		)	(19		)	53			(121		)
Income Tax Benefit (Expense)	57			(574		)	6			—			(511		)
Net Income (Loss)	$	856		$	891		$	11		$	(902	)	$	856
Comprehensive Income (Loss)	$	844		$	855		$	11		$	(866	)	$	844
As of December 31, 2015
Current Assets	$	4,501		$	1,912		$	364		$	(4,828	)	$	1,949
Property, Plant and Equipment, net	83			6,502			1,542			—			8,127
Investment in Subsidiaries	4,501			346			—			(4,847		)	—
Noncurrent Assets	155			1,959			136			(76		)	2,174
Total Assets	$	9,240		$	10,719		$	2,042		$	(9,751	)	$	12,250
Current Liabilities	$	1,112		$	3,866		$	1,076		$	(4,828	)	$	1,226
Noncurrent Liabilities	442			2,597			375			(76		)	3,338
Long-Term Debt	1,684			—			—			—			1,684
Member’s Equity	6,002			4,256			591			(4,847		)	6,002
Total Liabilities and Member’s Equity	$	9,240		$	10,719		$	2,042		$	(9,751	)	$	12,250
Year Ended December 31, 2015
Net Cash Provided By (Used In) Operating Activities	$	571		$	2,089		$	80		$	(1,034	)	$	1,706
Net Cash Provided By (Used In) Investing Activities	$	(366	)	$	(1,519	)	$	(430	)	$	1,314		$	(1,001	)
Net Cash Provided By (Used In) Financing Activities	$	(205	)	$	(571	)	$	354		$	(280	)	$	(702	)

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Year Ended December 31, 2014
Operating Revenues	$	—		$	5,390		$	153		$	(109	)	$	5,434
Operating Expenses	16			4,175			143			(109		)	4,225
Operating Income (Loss)	(16		)	1,215			10			—			1,209
Equity Earnings (Losses) of Subsidiaries	799			(5		)	14			(794		)	14
Other Income	34			222			—			(34		)	222
Other Deductions	(20		)	(32		)	—			—			(52		)
Other-Than-Temporary Impairments	—			(20		)	—			—			(20		)
Interest Expense	(102		)	(35		)	(19		)	34			(122		)
Income Tax Benefit (Expense)	65			(558		)	2			—			(491		)
Net Income (Loss)	$	760		$	787		$	7		$	(794	)	$	760
Comprehensive Income (Loss)	$	595		$	768		$	7		$	(775	)	$	595
As of December 31, 2014
Current Assets	$	4,263		$	2,037		$	150		$	(4,091	)	$	2,359
Property, Plant and Equipment, net	81			6,265			1,169			—			7,515
Investment in Subsidiaries	4,516			120			—			(4,636		)	—
Noncurrent Assets	269			1,952			137			(195		)	2,163
Total Assets	$	9,129		$	10,374		$	1,456		$	(8,922	)	$	12,037
Current Liabilities	$	883		$	3,606		$	786		$	(4,091	)	$	1,184
Noncurrent Liabilities	454			2,442			360			(195		)	3,061
Long-Term Debt	2,234			—			—			—			2,234
Member’s Equity	5,558			4,326			310			(4,636		)	5,558
Total Liabilities and Member’s Equity	$	9,129		$	10,374		$	1,456		$	(8,922	)	$	12,037
Year Ended December 31, 2014
Net Cash Provided By (Used In) Operating Activities	$	577		$	1,674		$	76		$	(902	)	$	1,425
Net Cash Provided By (Used In) Investing Activities	$	148		$	(856	)	$	(42	)	$	226		$	(524	)
Net Cash Provided By (Used In) Financing Activities	$	(724	)	$	(818	)	$	(32	)	$	676		$	(898	)

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Year Ended December 31, 2013
Operating Revenues	$	—		$	5,022		$	190		$	(149	)	$	5,063
Operating Expenses	23			3,945			174			(149		)	3,993
Operating Income (Loss)	(23		)	1,077			16			—			1,070
Equity Earnings (Losses) of Subsidiaries	684			(5		)	16			(679		)	16
Other Income	35			157			—			(38		)	154
Other Deductions	(14		)	(35		)	—			—			(49		)
Other-Than-Temporary Impairments	—			(12		)	—			—			(12		)
Interest Expense	(93		)	(42		)	(19		)	38			(116		)
Income Tax Benefit (Expense)	55			(474		)	—			—			(419		)
Net Income (Loss)	$	644		$	666		$	13		$	(679	)	$	644
Comprehensive Income (Loss)	$	909		$	713		$	11		$	(724	)	$	909
Year Ended December 31, 2013
Net Cash Provided By (Used In) Operating Activities	$	288		$	1,503		$	82		$	(526	)	$	1,347
Net Cash Provided By (Used In) Investing Activities	$	(395	)	$	(1,092	)	$	(71	)	$	697		$	(861	)
Net Cash Provided By (Used In) Financing Activities	$	107		$	(412	)	$	(11	)	$	(171	)	$	(487	)