XML 82 R44.htm IDEA: XBRL DOCUMENT v3.8.0.1
Available-for-Sale Securities (Tables)
 12 Months Ended
Dec. 31, 2017
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, 2017
 
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
 
Millions
 
 
Equity Securities
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
405

 
$
245

 
$
(2
)
 
$
648

 
 
International
 
311

 
99

 
(3
)
 
407

 
 
Total Equity Securities
 
716

 
344

 
(5
)
 
1,055

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
 
Government
 
586

 
2

 
(4
)
 
584

 
 
Corporate
 
400

 
4

 
(2
)
 
402

 
 
Total Debt Securities
 
986

 
6

 
(6
)
 
986

 
 
Other Securities
 
92

 
—

 
—

 
92

 
 
Total NDT Available-for-Sale Securities
 
$
1,794

 
$
350

 
$
(11
)
 
$
2,133

 
 
 
 
 
 
 
 
 
 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2016
 
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
 
Millions
 
 
Equity Securities
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
439

 
$
214

 
$
(3
)
 
$
650

 
 
International
 
266

 
49

—

(8
)
 
307

 
 
Total Equity Securities
 
705

 
263

 
(11
)
 
957

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
 
Government
 
518

 
8

 
(6
)
 
520

 
 
Corporate
 
337

 
4

 
(4
)
 
337

 
 
Total Debt Securities
 
855

 
12

 
(10
)
 
857

 
 
Other Securities
 
44

 
—

 
—

 
44

 
 
Total NDT Available-for-Sale Securities (A)
 
$
1,604

 
$
275

 
$
(21
)
 
$
1,858

 
 
 
 
 
 
 
 
 
 
 
 

(A)
The NDT available-for-sale securities table excludes cash of $1 million as of December 31, 2016, which is part of the NDT Fund.
Schedule Of Accounts Receivable And Accounts Payable
The 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, 2017
 
As of December 31, 2016
 
 
 
 
Millions
 
 
Accounts Receivable
 
$
24

 
$
8

 
 
Accounts Payable
 
$
74

 
$
5

 
 
 
 
 
 
 
 
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 a continuous unrealized loss position for less than 12 months and greater than 12 months.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2017
 
As of December 31, 2016
 
 
 
 
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)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
40

 
$
(2
)
 
$
—

 
$
—

 
$
51

 
$
(3
)
 
$
2

 
$
—

 
 
International
 
29

 
(3
)
 
2

 
—

 
69

 
(7
)
 
6

 
(1
)
 
 
Total Equity Securities
 
69

 
(5
)
 
2

 
—

 
120

 
(10
)
 
8

 
(1
)
 
 
Debt Securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government (B)
 
343

 
(2
)
 
91

 
(2
)
 
276

 
(6
)
 
4

 
—

 
 
Corporate (C)
 
191

 
(1
)
 
27

 
(1
)
 
139

 
(3
)
 
15

 
(1
)
 
 
Total Debt Securities
 
534

 
(3
)
 
118

 
(3
)
 
415

 
(9
)
 
19

 
(1
)
 
 
NDT Available-for-Sale Securities
 
$
603

 
$
(8
)
 
$
120

 
$
(3
)
 
$
535

 
$
(19
)
 
$
27

 
$
(2
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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 December 31, 2017.
(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. These investments are guaranteed by the U.S. government or an agency of the U.S. government. Power also has investments in municipal bonds that are primarily in investment grade securities. It is not expected that these securities will settle for less than their amortized cost. Since Power does not intend to sell these securities before recovery 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, 2017.
(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 before recovery 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, 2017.
Amount Of Available-For-Sale Debt Securities By Maturity Periods
The available-for-sale debt securities held as of December 31, 2017 had the following maturities:
 
 
 
 
 
 
Time Frame
 
Fair Value
 
 
 
 
Millions
 
 
Less than one year
 
$
42

 
 
1 - 5 years
 
320

 
 
6 - 10 years
 
207

 
 
11 - 15 years
 
40

 
 
16 - 20 years
 
65

 
 
Over 20 years
 
312

 
 
Total NDT Available-for-Sale Debt Securities
 
$
986

 
 
 
 
 
 
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,
 
 
 
 
2017
 
2016
 
2015
 
 
 
 
Millions
 
 
Proceeds from Sales (A)
 
$
2,137

 
$
711

 
$
1,397

 
 
Net Realized Gains (Losses):
 
 
 
 
 
 
 
 
Gross Realized Gains
 
$
157

 
$
53

 
$
97

 
 
Gross Realized Losses
 
(23
)
 
(32
)
 
(37
)
 
 
Net Realized Gains (Losses) on NDT Fund (B)
 
$
134

 
$
21

 
$
60

 
 
 
 
 
 
 
 
 
 

(A)
Includes activity in accounts related to the liquidation of funds being transitioned to new managers.
(B)
The cost of these securities was determined on the basis of specific identification.
Rabbi Trust [Member]  
Schedule of Available-for-sale Securities [Line Items]  
Schedule of Available-for-sale Securities Reconciliation
PSEG classifies investments in the Rabbi Trust as available-for-sale. 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, 2017
 
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
 
Millions
 
 
Equity Securities
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
22

 
$
3

 
$
—

 
$
25

 
 
International
 
—

 
—

 
—

 
—

 
 
Total Equity Securities
 
$
22

 
$
3

 
$
—

 
$
25

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
 
  Government
 
85

 
1

 
(1
)
 
85

 
 
  Corporate
 
118

 
2

 
(1
)
 
119

 
 
Total Debt Securities
 
203

 
3

 
(2
)
 
204

 
 
Other Securities
 
2

 
—

 
—

 
2

 
 
Total Rabbi Trust Available-for-Sale Securities
 
$
227

 
$
6

 
$
(2
)
 
$
231

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2016
 
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
 
Millions
 
 
Equity Securities
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
11

 
$
11

 
$
—

 
$
22

 
 
International
 
—

 
—

 
—

 
—

 
 
Total Equity Securities
 
11

 
11

 
—

 
22

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
 
  Government
 
105

 
—

 
(2
)
 
103

 
 
  Corporate
 
92

 
1

 
(2
)
 
91

 
 
Total Debt Securities
 
197

 
1

 
(4
)
 
194

 
 
Other Securities
 
1

 
—

 
—

 
1

 
 
Total Rabbi Trust Available-for-Sale Securities
 
$
209

 
$
12

 
$
(4
)
 
$
217

 
 
 
 
 
 
 
 
 
 
 
 
Schedule Of Accounts Receivable And Accounts Payable
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 Consolidated Balance Sheets as shown in the following table.
 
 
 
 
 
 
 
 
 
 
As of December 31, 2017
 
As of December 31, 2016
 
 
 
 
Millions
 
 
Accounts Receivable
 
$
2

 
$
5

 
 
Accounts Payable
 
$
1

 
$
3

 
 
 
 
 
 
 
 
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 a continuous unrealized loss position for less than 12 months and greater than 12 months:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2017
 
As of December 31, 2016
 
 
 
 
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)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
 
International
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
Total Equity Securities
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
Debt Securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government (B)
 
28

 
—

 
25

 
(1
)
 
60

 
(2
)
 
1

 
—

 
 
Corporate (C)
 
39

 
(1
)
 
9

 
—

 
46

 
(2
)
 
3

 
—

 
 
Total Debt Securities
 
67

 
(1
)
 
34

 
(1
)
 
106

 
(4
)
 
4

 
—

 
 
Rabbi Trust Available-for-Sale Securities
 
$
67

 
$
(1
)
 
$
34

 
$
(1
)
 
$
106

 
$
(4
)
 
$
4

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(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 U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. These investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG also has investments in municipal bonds that are primarily in investment grade securities. It is not expected that these securities will settle for less than their amortized cost. Since PSEG does not intend to sell these securities before recovery 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, 2017.
(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 before recovery 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, 2017
Amount Of Available-For-Sale Debt Securities By Maturity Periods
The Rabbi Trust available-for-sale debt securities held as of December 31, 2017 had the following maturities:
 
 
 
 
 
 
Time Frame
 
Fair Value
 
 
 
 
Millions
 
 
Less than one year
 
$
1

 
 
1 - 5 years
 
37

 
 
6 - 10 years
 
30

 
 
11 - 15 years
 
5

 
 
16 - 20 years
 
18

 
 
Over 20 years
 
113

 
 
Total Rabbi Trust Available-for-Sale Debt Securities
 
$
204

 
 
 
 
 
 
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,
 
 
 
 
2017
 
2016
 
2015
 
 
 
 
Millions
 
 
Proceeds from Rabbi Trust Sales (A)
 
$
182

 
$
113

 
$
104

 
 
Net Realized Gains (Losses):
 
 
 
 
 
 
 
 
Gross Realized Gains
 
$
17

 
$
6

 
$
3

 
 
Gross Realized Losses
 
(5
)
 
(5
)
 
(2
)
 
 
Net Realized Gains (Losses) on Rabbi Trust (B)
 
$
12

 
$
1

 
$
1

 
 
 
 
 
 
 
 
 
 

(A)
Includes activity in accounts related to the liquidation of funds being transitioned to new managers.
(B)
The cost of these securities was determined on the basis of specific identification.
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, 2017
 
As of December 31, 2016
 
 
 
 
Millions
 
 
PSE&G
 
$
46

 
$
43

 
 
Power
 
57

 
53

 
 
Other
 
128

 
121

 
 
Total Rabbi Trust Available-for-Sale Securities
 
$
231

 
$
217