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Trust Investments (Tables)
 9 Months Ended
Sep. 30, 2018
Schedule of Trust Investments [Line Items]  
Fair Values And Gross Unrealized Gains And Losses For The Securities Held In The NDT Fund
The following tables show the fair values and gross unrealized gains and losses for the securities held in the NDT Fund.
 
 
 
 
 
 
 
 
 
 
 
 
As of September 30, 2018
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
Millions
 
 
Equity Securities
 
 
 
 
 
 
 
 
 
Domestic
$
467

 
$
268

 
$
(7
)
 
$
728

 
 
International
330

 
78

 
(16
)
 
392

 
 
Total Equity Securities
797

 
346

 
(23
)
 
1,120

 
 
Available-for Sale Debt Securities
 
 
 
 
 
 
 
 
 
Government
537

 
—

 
(17
)
 
520

 
 
Corporate
468

 
1

 
(13
)
 
456

 
 
Total Available-for-Sale Debt Securities
1,005

 
1

 
(30
)
 
976

 
 
Other
—

 
—

 
—

 
—

 
 
Total NDT Fund Investments
$
1,802

 
$
347

 
$
(53
)
 
$
2,096

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2017
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
Millions
 
 
Equity Securities
 
 
 
 
 
 
 
 
 
Domestic
$
497

 
$
245

 
$
(2
)
 
$
740

 
 
International
311

 
99

 
(3
)
 
407

 
 
Total Equity Securities
808

 
344

 
(5
)
 
1,147

 
 
Available-for Sale Debt Securities
 
 
 
 
 
 
 
 
 
Government
586

 
2

 
(4
)
 
584

 
 
Corporate
400

 
4

 
(2
)
 
402

 
 
Total Available-for-Sale Debt Securities
986

 
6

 
(6
)
 
986

 
 
Total NDT Fund Investments
$
1,794

 
$
350

 
$
(11
)
 
$
2,133

 
 
 
 
 
 
 
 
 
 
 
Schedule Of Accounts Receivable And Accounts Payable in the NDT Funds
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 Condensed Consolidated Balance Sheets as shown in the following table.
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
September 30,
2018
 
December 31,
2017
 
 
 
Millions
 
 
Accounts Receivable
$
13

 
$
24

 
 
Accounts Payable
$
14

 
$
74

 
 
 
 
 
 
 
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 and greater than 12 months.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of September 30, 2018
 
As of December 31, 2017
 
 
 
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
$
78

 
$
(7
)
 
$
4

 
$
—

 
$
40

 
$
(2
)
 
$
—

 
$
—

 
 
International
87

 
(14
)
 
8

 
(2
)
 
29

 
(3
)
 
2

 
—

 
 
Total Equity Securities
165

 
(21
)
 
12

 
(2
)
 
69

 
(5
)
 
2

 
—

 
 
Available-for Sale Debt Securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government (B)
342

 
(10
)
 
153

 
(7
)
 
343

 
(2
)
 
91

 
(2
)
 
 
Corporate (C)
342

 
(11
)
 
49

 
(2
)
 
191

 
(1
)
 
27

 
(1
)
 
 
Total Available-for-Sale Debt Securities
684

 
(21
)
 
202

 
(9
)
 
534

 
(3
)
 
118

 
(3
)
 
 
NDT Trust Investments
$
849

 
$
(42
)
 
$
214

 
$
(11
)
 
$
603

 
$
(8
)
 
$
120

 
$
(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. Effective January 1, 2018, unrealized gains and losses on these securities are recorded in Net Income.
(B)
Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The 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 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 September 30, 2018.
(C)
Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). 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 September 30, 2018.
Proceeds From The Sales Of And The Net Realized Gains On Securities In The NDT Funds And Rabbi Trusts
The proceeds from the sales of and the net gains (losses) on securities in the NDT Fund were:
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
September 30,
 
September 30,
 
 
 
2018
 
2017
 
2018
 
2017
 
 
 
Millions
 
 
Proceeds from NDT Fund Sales (A)
$
231

 
$
278

 
$
1,005

 
$
845

 
 
Net Realized Gains (Losses) on NDT Fund
 
 
 
 
 
 
 
 
 
Gross Realized Gains
$
17

 
$
29

 
$
75

 
$
82

 
 
Gross Realized Losses
(7
)
 
(5
)
 
(29
)
 
(14
)
 
 
Net Realized Gains (Losses) on NDT Fund (B)
$
10

 
$
24

 
$
46

 
$
68

 
 
Unrealized Gains (Losses) on Equity Securities in NDT Fund (C)
34

 
N/A

 
(16
)
 
N/A

 
 
Other-Than-Temporary-Impairments (OTTI)
$
—

 
$
(5
)
 
—

 
(9
)
 
 
Net Gains (Losses) on NDT Fund Investments
$
44

 
$
19

 
$
30

 
$
59

 
 
 
 
 
 
 
 
 
 
 

(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.
(C)
Effective January 1, 2018, unrealized gains (losses) on equity securities are recorded in Net Income instead of Other Comprehensive Income (Loss).
Amount Of Available-For-Sale Debt Securities By Maturity Periods
The NDT Fund debt securities held as of September 30, 2018 had the following maturities:
 
 
 
 
 
 
Time Frame
 
Fair Value
 
 
 
 
Millions
 
 
Less than one year
 
$
11

 
 
1 - 5 years
 
282

 
 
6 - 10 years
 
201

 
 
11 - 15 years
 
47

 
 
16 - 20 years
 
73

 
 
Over 20 years
 
362

 
 
Total NDT Available-for-Sale Debt Securities
$
976

 
 
 
 
 
 
Rabbi Trust [Member]  
Schedule of Trust Investments [Line Items]  
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 September 30, 2018
 
As of December 31, 2017
 
 
 
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
 
 
Available-for-Sale Debt Securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government (A)
$
70

 
$
(2
)
 
$
28

 
$
(2
)
 
$
28

 
$
—

 
$
25

 
$
(1
)
 
 
Corporate (B)
76

 
(3
)
 
14

 
—

 
39

 
(1
)
 
9

 
—

 
 
Total Available-for-Sale Debt Securities
146

 
(5
)
 
42

 
(2
)
 
67

 
(1
)
 
34

 
(1
)
 
 
Rabbi Trust Investments
$
146

 
$
(5
)
 
$
42

 
$
(2
)
 
$
67

 
$
(1
)
 
$
34

 
$
(1
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(A)
Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The 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 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 September 30, 2018.
(B)
Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). 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 September 30, 2018.
Securities Held In The Rabbi Trusts
The following tables show the fair values, gross unrealized gains and losses and amortized cost basis for the securities held in the Rabbi Trust.
 
 
 
 
 
 
 
 
 
 
 
 
As of September 30, 2018
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
Millions
 
 
Equity Securities
 
 
 
 
 
 
 
 
 
Domestic
$
21

 
$
4

 
$
—

 
$
25

 
 
International
—

 
—

 
—

 
—

 
 
Total Equity Securities
21

 
4

 
—

 
25

 
 
Available-for-Sale Debt Securities
 
 
 
 
 
 
 
 
 
Government
103

 
—

 
(4
)
 
99

 
 
Corporate
104

 
—

 
(3
)
 
101

 
 
Total Available-for-Sale Debt Securities
207

 
—

 
(7
)
 
200

 
 
Total Rabbi Trust Investments
$
228

 
$
4

 
$
(7
)
 
$
225

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2017
 
 
 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
 
 
Millions
 
 
Equity Securities
 
 
 
 
 
 
 
 
 
Domestic
$
24

 
$
3

 
$
—

 
$
27

 
 
International
—

 
—

 
—

 
—

 
 
Total Equity Securities
24

 
3

 
—

 
27

 
 
Available-for-Sale Debt Securities
 
 
 
 
 
 
 
 
 
Government
85

 
1

 
(1
)
 
85

 
 
Corporate
118

 
2

 
(1
)
 
119

 
 
Total Available-for-Sale Debt Securities
203

 
3

 
(2
)
 
204

 
 
Total Rabbi Trust Investments
$
227

 
$
6

 
$
(2
)
 
$
231

 
 
 
 
 
 
 
 
 
 
 
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
 
 
 
September 30,
2018
 
December 31,
2017
 
 
 
Millions
 
 
Accounts Receivable
$
1

 
$
2

 
 
Accounts Payable
$
—

 
$
1

 
 
 
 
 
 
 
Proceeds From The Sales Of And The Net Realized Gains On Securities In The NDT Funds And Rabbi Trusts
The proceeds from the sales of and the net gains (losses) on securities in the Rabbi Trust Fund were:
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
September 30,
 
September 30,
 
 
 
2018
 
2017
 
2018
 
2017
 
 
 
Millions
 
 
Proceeds from Rabbi Trust Sales (A)
$
33

 
$
24

 
$
80

 
$
168

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

 
$
—

 
$
2

 
$
17

 
 
Gross Realized Losses
(1
)
 
(1
)
 
(3
)
 
(5
)
 
 
Net Realized Gains (Losses) on Rabbi Trust (B)
(1
)
 
(1
)
 
(1
)
 
12

 
 
Unrealized Gains (Losses) on Equity Securities in Rabbi Trust (C)
2

 
N/A

 
2

 
N/A

 
 
OTTI
—

 
—

 
—

 
—

 
 
Net Gains (Losses) on Rabbi Trust Investments
$
1

 
$
(1
)
 
$
1

 
$
12

 
 
 
 
 
 
 
 
 
 
 

(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.
(C)
Effective January 1, 2018, unrealized gains (losses) on equity securities are recorded in Net Income instead of Other Comprehensive Income (Loss).
Amount Of Available-For-Sale Debt Securities By Maturity Periods
The Rabbi Trust debt securities held as of September 30, 2018 had the following maturities:
 
 
 
 
 
 
Time Frame
 
Fair Value
 
 
 
 
Millions
 
 
Less than one year
 
$
3

 
 
1 - 5 years
 
28

 
 
6 - 10 years
 
32

 
 
11 - 15 years
 
7

 
 
16 - 20 years
 
22

 
 
Over 20 years
 
108

 
 
Total Rabbi Trust Available-for-Sale Debt Securities
$
200

 
 
 
 
 
 
Fair Value Of The Rabbi Trusts
The fair value of the Rabbi Trust related to PSEG, PSE&G and Power are detailed as follows:
 
 
 
 
 
 
 
 
As of
 
As of
 
 
 
September 30,
2018
 
December 31,
2017
 
 
 
Millions
 
 
PSE&G
$
46

 
$
46

 
 
Power
57

 
57

 
 
Other
122

 
128

 
 
Total Rabbi Trust Investments
$
225

 
$
231