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Available-for-Sale Securities (Tables)
12 Months Ended
Dec. 31, 2015
Nuclear Decommissioning Trust (NDT) Fund [Member]  
Schedule of Available-for-sale Securities [Line Items]  
Schedule of Available-for-sale Securities Reconciliation
The following tables show the fair values and gross unrealized gains and losses for the securities held in the NDT Fund:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2015
 
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
 
Millions
 
 
Equity Securities
 
$
693

 
$
185

 
$
(13
)
 
$
865

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
 
Government Obligations
 
483

 
8

 
(3
)
 
488

 
 
Other Debt Securities
 
366

 
3

 
(10
)
 
359

 
 
Total Debt Securities
 
849

 
11

 
(13
)
 
847

 
 
Other Securities
 
42

 

 

 
42

 
 
Total NDT Available-for-Sale Securities
 
$
1,584

 
$
196

 
$
(26
)
 
$
1,754

 
 
 
 
 
 
 
 
 
 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
These amounts in the preceding tables do not include receivables and payables for NDT Fund transactions which have not settled at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Consolidated Balance Sheets as shown in the following table.
 
 
 
 
 
 
 
 
 
 
As of December 31, 2015
 
As of December 31, 2014
 
 
 
 
Millions
 
 
Accounts Receivable
 
$
17

 
$
10

 
 
Accounts Payable
 
$
10

 
$
2

 
 
 
 
 
 
 
 
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 NDT Fund that have been in an unrealized loss position for less than 12 months and greater than 12 months:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 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)
 
$
151

 
$
(13
)
 
$
1

 
$

 
$
162

 
$
(8
)
 
$
1

 
$

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government Obligations (B)
 
245

 
(2
)
 
19

 
(1
)
 
95

 

 
28

 
(1
)
 
 
Other Debt Securities (C)
 
222

 
(7
)
 
36

 
(3
)
 
99

 
(1
)
 
30

 
(2
)
 
 
Total Debt Securities
 
467

 
(9
)
 
55

 
(4
)
 
194

 
(1
)
 
58

 
(3
)
 
 
NDT Available-for-Sale Securities
 
$
618

 
$
(22
)
 
$
56

 
$
(4
)
 
$
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 companies with limited impairment durations. Power does not consider these securities to be other-than-temporarily impaired as of December 31, 2015.
(B)
Debt Securities (Government)—Unrealized losses on Power’s NDT investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. Since these investments are guaranteed by the U.S. government or an agency of the U.S. 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 December 31, 2015.
(C)
Debt Securities (Corporate)—Power’s investments in corporate bonds are primarily in 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 December 31, 2015.
Amount Of Available-For-Sale Debt Securities By Maturity Periods
The available-for-sale debt securities held as of December 31, 2015 had the following maturities:
 
 
 
 
 
 
Time Frame
 
Fair Value
 
 
 
 
Millions
 
 
Less than one year
 
$
16

 
 
1 - 5 years
 
209

 
 
6 - 10 years
 
200

 
 
11 - 15 years
 
57

 
 
16 - 20 years
 
49

 
 
Over 20 years
 
316

 
 
Total NDT Available-for-Sale Debt Securities
 
$
847

 
 
 
 
 
 
Schedule of Realized Gain (Loss)
The proceeds from the sales of and the net realized gains on securities in the NDT Fund were:
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
 
 
2015
 
2014
 
2013
 
 
 
 
Millions
 
 
Proceeds from Sales (A)
 
$
1,397

 
$
1,448

 
$
1,070

 
 
Net Realized Gains (Losses):
 
 
 
 
 
 
 
 
Gross Realized Gains
 
$
97

 
$
177

 
$
112

 
 
Gross Realized Losses
 
(37
)
 
(23
)
 
(26
)
 
 
Net Realized Gains (Losses) on NDT Fund
 
$
60

 
$
154

 
$
86

 
 
 
 
 
 
 
 
 
 

(A)
Includes activity in accounts related to the liquidation of funds being transitioned to new managers.
Rabbi Trust [Member]  
Schedule of Available-for-sale Securities [Line Items]  
Schedule of Available-for-sale Securities Reconciliation
The following tables show the fair values, gross unrealized gains and losses and amortized cost bases for the securities held in the Rabbi Trust.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2015
 
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
 
Millions
 
 
Equity Securities
 
$
12

 
$
10

 
$

 
$
22

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
 
  Government Obligations
 
108

 
1

 
(1
)
 
108

 
 
  Other Debt Securities
 
82

 

 
(1
)
 
81

 
 
Total Debt Securities
 
190

 
1

 
(2
)
 
189

 
 
Other Securities
 
2

 

 

 
2

 
 
Total Rabbi Trust Available-for-Sale Securities
 
$
204

 
$
11

 
$
(2
)
 
$
213

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
These 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 Consolidated Balance Sheets as show in the following table.
 
 
 
 
 
 
 
 
 
 
As of December 31, 2015
 
As of December 31, 2014
 
 
 
 
Millions
 
 
Accounts Receivable
 
$
1

 
$
1

 
 
Accounts Payable
 
$

 
$

 
 
 
 
 
 
 
 
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 12 months and greater than 12 months:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 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)
 
53

 
(1
)
 
2

 

 
2

 

 

 

 
 
Other Debt Securities (C)
 
46

 
(1
)
 
9

 

 
24

 

 

 

 
 
Total Debt Securities
 
99

 
(2
)
 
11

 

 
26

 

 

 

 
 
Rabbi Trust Available-for-Sale Securities
 
$
99

 
$
(2
)
 
$
11

 
$

 
$
26

 
$

 
$

 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(A)
Equity Securities—Investments in marketable equity securities within the Rabbi Trust Fund is 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 U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. Since these investments are guaranteed by the U.S. government or an agency of the U.S. 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 December 31, 2015.
(C)
Debt Securities (Corporate)—PSEG’s investments in corporate bonds are primarily in 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 December 31, 2015.
Amount Of Available-For-Sale Debt Securities By Maturity Periods
The Rabbi Trust available-for-sale debt securities held as of December 31, 2015 had the following maturities:
 
 
 
 
 
 
Time Frame
 
Fair Value
 
 
 
 
Millions
 
 
Less than one year
 
$
3

 
 
1 - 5 years
 
49

 
 
6 - 10 years
 
44

 
 
11 - 15 years
 
5

 
 
16 - 20 years
 
8

 
 
Over 20 years
 
80

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

 
 
 
 
 
 
Schedule of Realized Gain (Loss)
The proceeds from the sales of and the net realized gains on securities in the Rabbi Trust Fund were:
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
 
 
2015
 
2014
 
2013
 
 
 
 
Millions
 
 
Proceeds from Rabbi Trust Sales (A)
 
$
104

 
$
467

 
$
89

 
 
Net Realized Gains (Losses):
 
 
 
 
 
 
 
 
Gross Realized Gains
 
$
3

 
$
4

 
$
4

 
 
Gross Realized Losses
 
(2
)
 
(3
)
 
(3
)
 
 
Net Realized Gains (Losses) on Rabbi Trust
 
$
1

 
$
1

 
$
1

 
 
 
 
 
 
 
 
 
 

(A)
Includes activity in accounts related to the liquidation of funds being transitioned to new managers
Rabbi Trust Fair Value by Company
The fair value of the Rabbi Trust related to PSEG, PSE&G and Power are detailed as follows:
 
 
 
 
 
 
 
 
 
 
As of December 31, 2015
 
As of December 31, 2014
 
 
 
 
Millions
 
 
PSE&G
 
$
42

 
$
41

 
 
Power
 
52

 
45

 
 
Other
 
119

 
105

 
 
Total Rabbi Trust Available-for-Sale Securities
 
$
213

 
$
191