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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash and Cash Equivalents $ 82 $ 177
Accounts Receivable, net of allowances 1,118 1,435
Tax Receivable 0 242
Unbilled Revenues 193 240
Fuel 235 331
Materials and Supplies, net 574 571
Prepayments 348 94
Derivative Contracts 83 11
Regulatory Assets 419 389
Assets Held for Sale 74 0
Other 30 17
Total Current Assets 3,156 3,507
PROPERTY, PLANT AND EQUIPMENT 44,719 44,201
Less: Accumulated Depreciation and Amortization (9,842) (9,838)
Net Property, Plant and Equipment 34,877 34,363
NONCURRENT ASSETS    
Regulatory Assets 3,465 3,399
Operating Lease, Right-of-Use Asset 282 0
Long-Term Investments 845 896
Nuclear Decommissioning Trust (NDT) Fund 2,118 1,878
Long-Term Tax Receivable 150 0
Long-Term Receivable of Variable Interest Entities (VIEs) 637 624
Rabbi Trust Fund 240 224
Goodwill 16 16
Other Intangibles 162 143
Derivative Contracts 79 1
Other 253 275
Total Noncurrent Assets 8,247 7,456
Total Assets 46,280 45,326
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 1,056 1,294
Commercial Paper and Loans 365 1,016
Accounts Payable 1,153 1,451
Derivative Contracts 29 11
Accrued Interest 115 110
Accrued Taxes 39 26
Clean Energy Program 231 143
Obligation to Return Cash Collateral 126 136
Regulatory Liabilities 319 311
Liabilities Held for Sale 26 0
Other 523 437
Total Current Liabilities 3,982 4,935
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 6,030 5,713
Regulatory Liabilities 3,056 3,221
Operating Leases 273 0
Asset Retirement Obligations 1,065 1,063
OPEB Costs 696 704
OPEB Costs of Servco 517 501
Accrued Pension Costs 765 791
Accrued Pension Costs of Servco 106 109
Environmental Costs 344 327
Derivative Contracts 8 4
Long-Term Accrued Taxes 170 181
Other 213 232
Total Noncurrent Liabilities 13,243 12,846
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 14,301 13,168
STOCKHOLDER'S EQUITY    
Common Stock, Value, Issued 4,980 4,980
Treasury Stock, at cost (835) (808)
Retained Earnings 11,041 10,582
Accumulated Other Comprehensive Income (Loss) (432) (377)
Total Stockholder's Equity 14,754 14,377
Total Capitalization 29,055 27,545
TOTAL LIABILITIES AND CAPITALIZATION 46,280 45,326
Public Service Electric and Gas Company [Member]    
CURRENT ASSETS    
Cash and Cash Equivalents 23 39
Accounts Receivable, net of allowances 850 879
Accounts Receivable-Affiliated Companies 4 123
Tax Receivable 0 20
Unbilled Revenues 193 240
Materials and Supplies, net 215 196
Prepayments 220 10
Regulatory Assets 419 389
Other 21 11
Total Current Assets 1,945 1,907
PROPERTY, PLANT AND EQUIPMENT 32,688 31,633
Less: Accumulated Depreciation and Amortization (6,431) (6,277)
Net Property, Plant and Equipment 26,257 25,356
NONCURRENT ASSETS    
Regulatory Assets 3,465 3,399
Operating Lease, Right-of-Use Asset 88 0
Long-Term Investments 265 270
Rabbi Trust Fund 48 45
Other 117 132
Total Noncurrent Assets 3,983 3,846
Total Assets 32,185 31,109
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 250 500
Commercial Paper and Loans 190 272
Accounts Payable 554 713
Accounts Payable-Affiliated Companies 184 321
Accrued Interest 88 84
Clean Energy Program 231 143
Obligation to Return Cash Collateral 126 136
Regulatory Liabilities 319 311
Other 431 345
Total Current Liabilities 2,373 2,825
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 4,032 3,830
Regulatory Liabilities 3,056 3,221
Operating Leases 78 0
Asset Retirement Obligations 302 302
OPEB Costs 477 486
Accrued Pension Costs 383 400
Environmental Costs 284 268
Long-Term Accrued Taxes 102 69
Other 136 124
Total Noncurrent Liabilities 8,850 8,700
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 9,430 8,684
STOCKHOLDER'S EQUITY    
Common Stock, Value, Issued 892 892
Contributed Capital 1,095 1,095
Basis Adjustment 986 986
Retained Earnings 8,558 7,928
Accumulated Other Comprehensive Income (Loss) 1 (1)
Total Stockholder's Equity 11,532 10,900
Total Capitalization 20,962 19,584
TOTAL LIABILITIES AND CAPITALIZATION 32,185 31,109
PSEG Power [Member]    
CURRENT ASSETS    
Cash and Cash Equivalents 14 22
Accounts Receivable, net of allowances 216 477
Accounts Receivable-Affiliated Companies 217 274
Short-Term Loan to Affiliate 348 [1] 0
Fuel 235 331
Materials and Supplies, net 357 373
Prepayments 13 14
Derivative Contracts [2] 83 11
Assets Held for Sale 74 0
Other 10 5
Total Current Assets 1,567 1,507
PROPERTY, PLANT AND EQUIPMENT 11,684 12,224
Less: Accumulated Depreciation and Amortization (3,215) (3,382)
Net Property, Plant and Equipment 8,469 8,842
NONCURRENT ASSETS    
Operating Lease, Right-of-Use Asset 75 0
Long-Term Investments 88 86
Nuclear Decommissioning Trust (NDT) Fund 2,118 1,878
Rabbi Trust Fund 61 56
Goodwill 16 16
Other Intangibles 162 143
Derivative Contracts [2] 79 1
Other 69 65
Total Noncurrent Assets 2,668 2,245
Total Assets 12,704 12,594
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 406 44
Accounts Payable 450 498
Accounts Payable-Affiliated Companies 22 16
Short-Term Loan from Affiliate 0 193 [1]
Derivative Contracts [2] 24 11
Accrued Interest 21 21
Liabilities Held for Sale 26 0
Other 76 59
Total Current Liabilities 1,025 842
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 1,776 1,619
Operating Leases 65 0
Asset Retirement Obligations 761 758
OPEB Costs 177 176
Accrued Pension Costs 240 246
Derivative Contracts [2] 5 4
Long-Term Accrued Taxes 103 76
Other 121 122
Total Noncurrent Liabilities 3,248 3,001
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 2,431 2,791
STOCKHOLDER'S EQUITY    
Contributed Capital 2,214 2,214
Basis Adjustment (986) (986)
Retained Earnings 5,126 5,051
Accumulated Other Comprehensive Income (Loss) (354) (319)
Total Stockholder's Equity 6,000 5,960
TOTAL LIABILITIES AND CAPITALIZATION $ 12,704 $ 12,594
[1]
PSEG 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.
[2]
Substantially all of PSEG 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, 2019 and December 31, 2018.