XML 103 R79.htm IDEA: XBRL DOCUMENT v3.7.0.1
Fair Value Measurements (Narrative) (Detail) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Mar. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Derivative, Fair Value, Amount Offset Against Collateral, Net $ (11)   $ (11)   $ 1  
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements 3 $ 5 25 $ 20    
Net assets measured at fair value on a recurring basis 2,800   2,800     $ 2,800
Net assets measured at fair value on a recurring basis measured using unobservable input and as Level 3 6   6   5  
Power [Member]            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Derivative, Fair Value, Amount Offset Against Collateral, Net [1],[2] (11)   (11)   $ 1  
Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Trading Revenue 7 1 26 16    
Net Derivative Assets [Member]            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 [3] 0 0 (1) 0    
Net Derivative Assets [Member] | Power [Member]            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 [3] $ 0 $ 0 $ (1) $ 0    
[1] Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. All cash collateral received or posted that has been allocated to derivative positions, where the right of offset exists, has been offset on the Condensed Consolidated Balance Sheets. As of June 30, 2017, net cash collateral (received) paid of $(11) million was netted against the corresponding net derivative contract positions. Of the $(11) million as of June 30, 2017, $(4) million was netted against current assets, $(9) million was netted against noncurrent assets, and $2 million was netted against current liabilities. As of December 31, 2016, net cash collateral (received) paid of $1 million was netted against the corresponding net derivative contract positions. Of the $1 million as of December 31, 2016, $(3) million was netted against noncurrent assets and $4 million was netted against current liabilities.
[2] Substantially all of Power’s and PSEG’s derivative instruments are contracts subject to master netting agreements. Contracts not subject to master netting or similar agreements are immaterial and did not have any collateral posted or received as of June 30, 2017 and December 31, 2016. PSE&G does not have any derivative contracts subject to master netting or similar agreements.
[3] During the three months ended June 30, 2017 there were no transfers in to or out of Level 3. During the six months ended June 30, 2017, $(1) million of net derivatives assets/liabilities were transferred from Level 2 to Level 3. There were no transfers in to or out of Level 3 during three months and six months ended June 30, 2016.