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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS    
Cash and Cash Equivalents $ 177 $ 313
Accounts Receivable, net of allowances 1,435 1,348
Tax Receivable 242 127
Unbilled Revenues 240 296
Fuel 331 289
Materials and Supplies, net 571 577
Prepayments 94 118
Derivative Contracts 11 29
Regulatory Assets 389 211
Other 17 4
Total Current Assets 3,507 3,312
PROPERTY, PLANT AND EQUIPMENT 44,201 41,231
Less: Accumulated Depreciation and Amortization (9,838) (9,434)
Net Property, Plant and Equipment 34,363 31,797
NONCURRENT ASSETS    
Regulatory Assets 3,399 3,222
Long-Term Investments 896 932
Nuclear Decommissioning Trust (NDT) Fund 1,878 2,133
Long-Term Receivable of VIEs 624 686
Rabbi Trust 224 231
Goodwill 16 16
Other Intangibles 143 114
Derivative Contracts 1 7
Other 275 266
Total Noncurrent Assets 7,456 7,607
Total Assets 45,326 42,716
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 1,294 1,000
Commercial Paper and Loans 1,016 542
Accounts Payable 1,451 1,694
Derivative Contracts 11 16
Accrued Interest 110 103
Accrued Taxes 26 48
Clean Energy Program 143 128
Obligation to Return Cash Collateral 136 129
Regulatory Liabilities 311 47
Other 437 461
Total Current Liabilities 4,935 4,168
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 5,713 5,240
Regulatory Liabilities 3,221 2,948
Asset Retirement Obligations 1,063 1,024
Other Postretirement Benefit (OPEB) Costs 704 1,455
OPEB Costs of Servco 501 542
Accrued Pension Costs 791 537
Accrued Pension Costs of Servco 109 129
Environmental Costs 327 357
Derivative Contracts 4 5
Long-Term Accrued Taxes 181 175
Other 232 221
Total Noncurrent Liabilities 12,846 12,633
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 13,168 12,068
STOCKHOLDER'S EQUITY    
Common Stock 4,980 4,961
Treasury Stock, at cost (808) (763)
Retained Earnings 10,582 9,878
Accumulated Other Comprehensive Income (Loss) (377) (229)
Total Stockholder's Equity 14,377 13,847
Total Capitalization 27,545 25,915
TOTAL LIABILITIES AND CAPITALIZATION 45,326 42,716
PSE&G [Member]    
CURRENT ASSETS    
Cash and Cash Equivalents 39 242
Accounts Receivable, net of allowances 879 882
Tax Receivable 20 0
Accounts Receivable-Affiliated Companies 123 0
Unbilled Revenues 240 296
Materials and Supplies, net 196 197
Prepayments 10 44
Regulatory Assets 389 211
Other 11 4
Total Current Assets 1,907 1,876
PROPERTY, PLANT AND EQUIPMENT 31,633 29,117
Less: Accumulated Depreciation and Amortization (6,277) (6,101)
Net Property, Plant and Equipment 25,356 23,016
NONCURRENT ASSETS    
Regulatory Assets 3,399 3,222
Long-Term Investments 270 280
Rabbi Trust 45 46
Other 132 114
Total Noncurrent Assets 3,846 3,662
Total Assets 31,109 28,554
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 500 750
Commercial Paper and Loans 272 0
Accounts Payable 713 728
Accounts Payable-Affiliated Companies 321 340
Accrued Interest 84 78
Clean Energy Program 143 128
Obligation to Return Cash Collateral 136 129
Regulatory Liabilities 311 47
Other 345 311
Total Current Liabilities 2,825 2,511
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 3,830 3,391
Regulatory Liabilities 3,221 2,948
Asset Retirement Obligations 302 212
Other Postretirement Benefit (OPEB) Costs 486 1,103
Accrued Pension Costs 400 226
Environmental Costs 268 283
Long-Term Accrued Taxes 69 91
Other 124 114
Total Noncurrent Liabilities 8,700 8,368
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 8,684 7,841
STOCKHOLDER'S EQUITY    
Common Stock 892 892
Contributed Capital 1,095 1,095
Basis Adjustment 986 986
Retained Earnings 7,928 6,861
Accumulated Other Comprehensive Income (Loss) (1) 0
Total Stockholder's Equity 10,900 9,834
Total Capitalization 19,584 17,675
TOTAL LIABILITIES AND CAPITALIZATION 31,109 28,554
Power [Member]    
CURRENT ASSETS    
Cash and Cash Equivalents 22 32
Accounts Receivable, net of allowances 477 380
Accounts Receivable-Affiliated Companies 274 221
Fuel 331 289
Materials and Supplies, net 373 376
Prepayments 14 11
Derivative Contracts 11 29 [1]
Other 5 3
Total Current Assets 1,507 1,341
PROPERTY, PLANT AND EQUIPMENT 12,224 11,755
Less: Accumulated Depreciation and Amortization (3,382) (3,159)
Net Property, Plant and Equipment 8,842 8,596
NONCURRENT ASSETS    
Long-Term Investments 86 87
Nuclear Decommissioning Trust (NDT) Fund 1,878 2,133
Rabbi Trust 56 57
Goodwill 16 16
Other Intangibles 143 114
Derivative Contracts 1 7 [1]
Other 65 67
Total Noncurrent Assets 2,245 2,481
Total Assets 12,594 12,418
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 44 250
Accounts Payable 498 712
Derivative Contracts 11 16 [1]
Accounts Payable-Affiliated Companies 16 57
Short Term Loan from Affiliate [2] 193 281
Accrued Interest 21 20
Other 59 99
Total Current Liabilities 842 1,435
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 1,619 1,406
Asset Retirement Obligations 758 810
Other Postretirement Benefit (OPEB) Costs 176 283
Accrued Pension Costs 246 184
Derivative Contracts 4 5 [1]
Long-Term Accrued Taxes 76 52
Other 122 140
Total Noncurrent Liabilities 3,001 2,880
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 2,791 2,136
STOCKHOLDER'S EQUITY    
Contributed Capital 2,214 2,214
Basis Adjustment (986) (986)
Retained Earnings 5,051 4,911
Accumulated Other Comprehensive Income (Loss) (319) (172)
Total Stockholder's Equity 5,960 5,967
TOTAL LIABILITIES AND CAPITALIZATION $ 12,594 $ 12,418
[1] Substantially all of Power'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 December 31, 2018 and 2017. PSE&G does not have any derivative contracts subject to master netting or similar agreements.
[2] Power’s short-term loans with PSEG are for working capital and other short-term needs. Interest Income and Interest Expense relating to these short-term funding activities were immaterial.