Guarantees of Debt

12 Months Ended

Dec. 31, 2018

Guarantees of Debt [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 tables present condensed financial information for the guarantor subsidiaries, as well as Power’s non-guarantor subsidiaries, as of December 31, 2018 and 2017 and for the years ended December 31, 2018, 2017 and 2016.

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Year Ended December 31, 2018
Operating Revenues	$	—		$	4,078		$	224		$	(156	)	$	4,146
Operating Expenses	14			3,460			232			(156		)	3,550
Operating Income (Loss)	(14		)	618			(8		)	—			596
Equity Earnings (Losses) of Subsidiaries	406			(28		)	15			(378		)	15
Net Gains (Losses) on Trust Investments	(1		)	(139		)	—			—			(140		)
Other Income (Deductions)	135			166			—			(280		)	21
Non-Operating Pension and OPEB Credits (Costs)	—			13			2			—			15
Interest Expense	(230		)	(96		)	(30		)	280			(76		)
Income Tax Benefit (Expense)	69			(143		)	8			—			(66		)
Net Income (Loss)	$	365		$	391		$	(13	)	$	(378	)	$	365
Comprehensive Income (Loss)	$	393		$	379		$	(13	)	$	(366	)	$	393
As of December 31, 2018
Current Assets	$	4,317		$	1,479		$	304		$	(4,593	)	$	1,507
Property, Plant and Equipment, net	49			4,971			3,822			—			8,842
Investment in Subsidiaries	5,062			1,107			—			(6,169		)	—
Noncurrent Assets	273			2,109			101			(238		)	2,245
Total Assets	$	9,701		$	9,666		$	4,227		$	(11,000	)	$	12,594
Current Liabilities	$	437		$	2,971		$	2,027		$	(4,593	)	$	842
Noncurrent Liabilities	513			1,996			730			(238		)	3,001
Long-Term Debt	2,791			—			—			—			2,791
Member’s Equity	5,960			4,699			1,470			(6,169		)	5,960
Total Liabilities and Member’s Equity	$	9,701		$	9,666		$	4,227		$	(11,000	)	$	12,594
Year Ended December 31, 2018
Net Cash Provided By (Used In) Operating Activities	$	(74	)	$	1,007		$	42		$	109		$	1,084
Net Cash Provided By (Used In) Investing Activities	$	(402	)	$	(1,034	)	$	(406	)	$	791		$	(1,051	)
Net Cash Provided By (Used In) Financing Activities	$	476		$	27		$	354		$	(900	)	$	(43	)

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Year Ended December 31, 2017
Operating Revenues	$	—		$	3,821		$	174		$	(135	)	$	3,860
Operating Expenses	8			4,159			195			(135		)	4,227
Operating Income (Loss)	(8		)	(338		)	(21		)	—			(367		)
Equity Earnings (Losses) of Subsidiaries	567			60			14			(627		)	14
Net Gains (Losses) on Trust Investments	3			122			—			—			125
Other Income (Deductions)	71			91			2			(144		)	20
Non-Operating Pension and OPEB Credits (Costs)	—			8			—			—			8
Interest Expense	(128		)	(49		)	(17		)	144			(50		)
Income Tax Benefit (Expense)	(26		)	588			167			—			729
Net Income (Loss)	$	479		$	482		$	145		$	(627	)	$	479
Comprehensive Income (Loss)	$	518		$	529		$	145		$	(674	)	$	518
As of December 31, 2017
Current Assets	$	4,327		$	1,500		$	200		$	(4,686	)	$	1,341
Property, Plant and Equipment, net	54			5,778			2,764			—			8,596
Investment in Subsidiaries	4,844			404			—			(5,248		)	—
Noncurrent Assets	100			2,349			110			(78		)	2,481
Total Assets	$	9,325		$	10,031		$	3,074		$	(10,012	)	$	12,418
Current Liabilities	$	689		$	3,586		$	1,846		$	(4,686	)	$	1,435
Noncurrent Liabilities	533			1,966			459			(78		)	2,880
Long-Term Debt	2,136			—			—			—			2,136
Member’s Equity	5,967			4,479			769			(5,248		)	5,967
Total Liabilities and Member’s Equity	$	9,325		$	10,031		$	3,074		$	(10,012	)	$	12,418
Year Ended December 31, 2017
Net Cash Provided By (Used In) Operating Activities	$	(42	)	$	1,185		$	238		$	(55	)	$	1,326
Net Cash Provided By (Used In) Investing Activities	$	506		$	(448	)	$	(525	)	$	(765	)	$	(1,232	)
Net Cash Provided By (Used In) Financing Activities	$	(464	)	$	(736	)	$	307		$	820		$	(73	)

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Year Ended December 31, 2016
Operating Revenues	$	—		$	3,809		$	173		$	(121	)	$	3,861
Operating Expenses	8			3,796			161			(121		)	3,844
Operating Income (Loss)	(8		)	13			12			—			17
Equity Earnings (Losses) of Subsidiaries	36			(3		)	11			(33		)	11
Net Gains (Losses) on Trust Investments	1			(7		)	—			—			(6		)
Other Income (Deductions)	52			60			—			(89		)	23
Non-Operating Pension and OPEB Credits (Costs)	—			(4		)	—			—			(4		)
Interest Expense	(115		)	(40		)	(18		)	89			(84		)
Income Tax Benefit (Expense)	52			(11		)	20			—			61
Net Income (Loss)	$	18		$	8		$	25		$	(33	)	$	18
Comprehensive Income (Loss)	$	47		$	50		$	25		$	(75	)	$	47
Year Ended December 31, 2016
Net Cash Provided By (Used In) Operating Activities	$	97		$	1,442		$	323		$	(607	)	$	1,255
Net Cash Provided By (Used In) Investing Activities	$	60		$	(707	)	$	(789	)	$	289		$	(1,147	)
Net Cash Provided By (Used In) Financing Activities	$	(157	)	$	(736	)	$	466		$	318		$	(109	)

Power [Member]

Guarantees of Debt [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 tables present condensed financial information for the guarantor subsidiaries, as well as Power’s non-guarantor subsidiaries, as of December 31, 2018 and 2017 and for the years ended December 31, 2018, 2017 and 2016.

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Year Ended December 31, 2018
Operating Revenues	$	—		$	4,078		$	224		$	(156	)	$	4,146
Operating Expenses	14			3,460			232			(156		)	3,550
Operating Income (Loss)	(14		)	618			(8		)	—			596
Equity Earnings (Losses) of Subsidiaries	406			(28		)	15			(378		)	15
Net Gains (Losses) on Trust Investments	(1		)	(139		)	—			—			(140		)
Other Income (Deductions)	135			166			—			(280		)	21
Non-Operating Pension and OPEB Credits (Costs)	—			13			2			—			15
Interest Expense	(230		)	(96		)	(30		)	280			(76		)
Income Tax Benefit (Expense)	69			(143		)	8			—			(66		)
Net Income (Loss)	$	365		$	391		$	(13	)	$	(378	)	$	365
Comprehensive Income (Loss)	$	393		$	379		$	(13	)	$	(366	)	$	393
As of December 31, 2018
Current Assets	$	4,317		$	1,479		$	304		$	(4,593	)	$	1,507
Property, Plant and Equipment, net	49			4,971			3,822			—			8,842
Investment in Subsidiaries	5,062			1,107			—			(6,169		)	—
Noncurrent Assets	273			2,109			101			(238		)	2,245
Total Assets	$	9,701		$	9,666		$	4,227		$	(11,000	)	$	12,594
Current Liabilities	$	437		$	2,971		$	2,027		$	(4,593	)	$	842
Noncurrent Liabilities	513			1,996			730			(238		)	3,001
Long-Term Debt	2,791			—			—			—			2,791
Member’s Equity	5,960			4,699			1,470			(6,169		)	5,960
Total Liabilities and Member’s Equity	$	9,701		$	9,666		$	4,227		$	(11,000	)	$	12,594
Year Ended December 31, 2018
Net Cash Provided By (Used In) Operating Activities	$	(74	)	$	1,007		$	42		$	109		$	1,084
Net Cash Provided By (Used In) Investing Activities	$	(402	)	$	(1,034	)	$	(406	)	$	791		$	(1,051	)
Net Cash Provided By (Used In) Financing Activities	$	476		$	27		$	354		$	(900	)	$	(43	)

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Year Ended December 31, 2017
Operating Revenues	$	—		$	3,821		$	174		$	(135	)	$	3,860
Operating Expenses	8			4,159			195			(135		)	4,227
Operating Income (Loss)	(8		)	(338		)	(21		)	—			(367		)
Equity Earnings (Losses) of Subsidiaries	567			60			14			(627		)	14
Net Gains (Losses) on Trust Investments	3			122			—			—			125
Other Income (Deductions)	71			91			2			(144		)	20
Non-Operating Pension and OPEB Credits (Costs)	—			8			—			—			8
Interest Expense	(128		)	(49		)	(17		)	144			(50		)
Income Tax Benefit (Expense)	(26		)	588			167			—			729
Net Income (Loss)	$	479		$	482		$	145		$	(627	)	$	479
Comprehensive Income (Loss)	$	518		$	529		$	145		$	(674	)	$	518
As of December 31, 2017
Current Assets	$	4,327		$	1,500		$	200		$	(4,686	)	$	1,341
Property, Plant and Equipment, net	54			5,778			2,764			—			8,596
Investment in Subsidiaries	4,844			404			—			(5,248		)	—
Noncurrent Assets	100			2,349			110			(78		)	2,481
Total Assets	$	9,325		$	10,031		$	3,074		$	(10,012	)	$	12,418
Current Liabilities	$	689		$	3,586		$	1,846		$	(4,686	)	$	1,435
Noncurrent Liabilities	533			1,966			459			(78		)	2,880
Long-Term Debt	2,136			—			—			—			2,136
Member’s Equity	5,967			4,479			769			(5,248		)	5,967
Total Liabilities and Member’s Equity	$	9,325		$	10,031		$	3,074		$	(10,012	)	$	12,418
Year Ended December 31, 2017
Net Cash Provided By (Used In) Operating Activities	$	(42	)	$	1,185		$	238		$	(55	)	$	1,326
Net Cash Provided By (Used In) Investing Activities	$	506		$	(448	)	$	(525	)	$	(765	)	$	(1,232	)
Net Cash Provided By (Used In) Financing Activities	$	(464	)	$	(736	)	$	307		$	820		$	(73	)

	Power			Guarantor Subsidiaries			Other Subsidiaries			Consolidating Adjustments			Total
	Millions
Year Ended December 31, 2016
Operating Revenues	$	—		$	3,809		$	173		$	(121	)	$	3,861
Operating Expenses	8			3,796			161			(121		)	3,844
Operating Income (Loss)	(8		)	13			12			—			17
Equity Earnings (Losses) of Subsidiaries	36			(3		)	11			(33		)	11
Net Gains (Losses) on Trust Investments	1			(7		)	—			—			(6		)
Other Income (Deductions)	52			60			—			(89		)	23
Non-Operating Pension and OPEB Credits (Costs)	—			(4		)	—			—			(4		)
Interest Expense	(115		)	(40		)	(18		)	89			(84		)
Income Tax Benefit (Expense)	52			(11		)	20			—			61
Net Income (Loss)	$	18		$	8		$	25		$	(33	)	$	18
Comprehensive Income (Loss)	$	47		$	50		$	25		$	(75	)	$	47
Year Ended December 31, 2016
Net Cash Provided By (Used In) Operating Activities	$	97		$	1,442		$	323		$	(607	)	$	1,255
Net Cash Provided By (Used In) Investing Activities	$	60		$	(707	)	$	(789	)	$	289		$	(1,147	)
Net Cash Provided By (Used In) Financing Activities	$	(157	)	$	(736	)	$	466		$	318		$	(109	)