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Guarantees of Debt
 12 Months Ended
Dec. 31, 2019
Guarantees of Debt [Line Items]  
Guarantees of Debt Guarantees of Debt
PSEG 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 PSEG Power’s non-guarantor subsidiaries, as of December 31, 2019 and 2018 and for the years ended December 31, 2019, 2018 and 2017.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PSEG Power
 
Guarantor
Subsidiaries
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Total
 
 
 
 
Millions
 
 
Year Ended December 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
—

 
$
4,315

 
$
299

 
$
(229
)
 
$
4,385

 
 
Operating Expenses
 
12

 
3,852

 
302

 
(229
)
 
3,937

 
 
Operating Income (Loss)
 
(12
)
 
463

 
(3
)
 
—

 
448

 
 
Equity Earnings (Losses) of Subsidiaries
 
554

 
(34
)
 
14

 
(520
)
 
14

 
 
Net Gains (Losses) on Trust Investments
 
3

 
250

 
—

 
—

 
253

 
 
Other Income (Deductions)
 
168

 
206

 
—

 
(320
)
 
54

 
 
Non-Operating Pension and OPEB Credits (Costs)
 
—

 
20

 
1

 
—

 
21

 
 
Interest Expense
 
(284
)
 
(104
)
 
(51
)
 
320

 
(119
)
 
 
Income Tax Benefit (Expense)
 
39

 
(265
)
 
23

 
—

 
(203
)
 
 
Net Income (Loss)
 
$
468

 
$
536

 
$
(16
)
 
$
(520
)
 
$
468

 
 
  Comprehensive Income (Loss)
 
$
455

 
$
565

 
$
(16
)
 
$
(549
)
 
$
455

 
 
As of December 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Current Assets
 
$
4,235

 
$
1,870

 
$
376

 
$
(4,755
)
 
$
1,726

 
 
Property, Plant and Equipment, net
 
46

 
4,426

 
3,954

 
—

 
8,426

 
 
Investment in Subsidiaries
 
5,363

 
1,075

 
—

 
(6,438
)
 
—

 
 
Noncurrent Assets
 
300

 
2,467

 
100

 
(214
)
 
2,653

 
 
Total Assets
 
$
9,944

 
$
9,838

 
$
4,430

 
$
(11,407
)
 
$
12,805

 
 
Current Liabilities
 
$
1,010

 
$
2,691

 
$
2,113

 
$
(4,755
)
 
$
1,059

 
 
Noncurrent Liabilities
 
610

 
2,104

 
922

 
(214
)
 
3,422

 
 
Long-Term Debt
 
2,434

 
—

 
—

 
—

 
2,434

 
 
Member’s Equity
 
5,890

 
5,043

 
1,395

 
(6,438
)
 
5,890

 
 
Total Liabilities and Member’s Equity
 
$
9,944

 
$
9,838

 
$
4,430

 
$
(11,407
)
 
$
12,805

 
 
Year Ended December 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Net Cash Provided By (Used In) Operating Activities
 
$
107

 
$
1,507

 
$
94

 
$
(229
)
 
$
1,479

 
 
Net Cash Provided By (Used In) Investing Activities
 
$
119

 
$
(846
)
 
$
(257
)
 
$
223

 
$
(761
)
 
 
Net Cash Provided By (Used In) Financing Activities
 
$
(225
)
 
$
(664
)
 
$
164

 
$
6

 
$
(719
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PSEG 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
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PSEG 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

 
 
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
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PSEG Power LLC  
Guarantees of Debt [Line Items]  
Guarantees of Debt Guarantees of Debt
PSEG 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 PSEG Power’s non-guarantor subsidiaries, as of December 31, 2019 and 2018 and for the years ended December 31, 2019, 2018 and 2017.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PSEG Power
 
Guarantor
Subsidiaries
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Total
 
 
 
 
Millions
 
 
Year Ended December 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
$
—

 
$
4,315

 
$
299

 
$
(229
)
 
$
4,385

 
 
Operating Expenses
 
12

 
3,852

 
302

 
(229
)
 
3,937

 
 
Operating Income (Loss)
 
(12
)
 
463

 
(3
)
 
—

 
448

 
 
Equity Earnings (Losses) of Subsidiaries
 
554

 
(34
)
 
14

 
(520
)
 
14

 
 
Net Gains (Losses) on Trust Investments
 
3

 
250

 
—

 
—

 
253

 
 
Other Income (Deductions)
 
168

 
206

 
—

 
(320
)
 
54

 
 
Non-Operating Pension and OPEB Credits (Costs)
 
—

 
20

 
1

 
—

 
21

 
 
Interest Expense
 
(284
)
 
(104
)
 
(51
)
 
320

 
(119
)
 
 
Income Tax Benefit (Expense)
 
39

 
(265
)
 
23

 
—

 
(203
)
 
 
Net Income (Loss)
 
$
468

 
$
536

 
$
(16
)
 
$
(520
)
 
$
468

 
 
  Comprehensive Income (Loss)
 
$
455

 
$
565

 
$
(16
)
 
$
(549
)
 
$
455

 
 
As of December 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Current Assets
 
$
4,235

 
$
1,870

 
$
376

 
$
(4,755
)
 
$
1,726

 
 
Property, Plant and Equipment, net
 
46

 
4,426

 
3,954

 
—

 
8,426

 
 
Investment in Subsidiaries
 
5,363

 
1,075

 
—

 
(6,438
)
 
—

 
 
Noncurrent Assets
 
300

 
2,467

 
100

 
(214
)
 
2,653

 
 
Total Assets
 
$
9,944

 
$
9,838

 
$
4,430

 
$
(11,407
)
 
$
12,805

 
 
Current Liabilities
 
$
1,010

 
$
2,691

 
$
2,113

 
$
(4,755
)
 
$
1,059

 
 
Noncurrent Liabilities
 
610

 
2,104

 
922

 
(214
)
 
3,422

 
 
Long-Term Debt
 
2,434

 
—

 
—

 
—

 
2,434

 
 
Member’s Equity
 
5,890

 
5,043

 
1,395

 
(6,438
)
 
5,890

 
 
Total Liabilities and Member’s Equity
 
$
9,944

 
$
9,838

 
$
4,430

 
$
(11,407
)
 
$
12,805

 
 
Year Ended December 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Net Cash Provided By (Used In) Operating Activities
 
$
107

 
$
1,507

 
$
94

 
$
(229
)
 
$
1,479

 
 
Net Cash Provided By (Used In) Investing Activities
 
$
119

 
$
(846
)
 
$
(257
)
 
$
223

 
$
(761
)
 
 
Net Cash Provided By (Used In) Financing Activities
 
$
(225
)
 
$
(664
)
 
$
164

 
$
6

 
$
(719
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PSEG 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
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PSEG 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

 
 
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
)