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Leases (Tables)

12 Months Ended

Dec. 31, 2019

The following amounts relate to total operating lease costs, including both amounts recognized in the Consolidated Statements of Operations during the year ended December 31, 2019 and any amounts capitalized as part of the cost of another asset, and the cash flows arising from lease transactions.




	PSE&G			PSEG Power			Other			Total
	Millions
Operating Lease Costs
Year Ended December 31, 2019
Long-term Lease Costs	$	24		$	13		$	15		$	52
Short-term Lease Costs	14			10			—			24
Variable Lease Costs	2			10			10			22
Total Operating Lease Costs	$	40		$	33		$	25		$	98

Year Ended December 31, 2019
Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	$	16		$	11		$	15		$	42

Weighted Average Remaining Lease Term in Years	13			14			10			12
Weighted Average Discount Rate	3.6		%	4.4		%	4.2		%	4.1		%

Schedule of Future Minimum Rental Payments for Operating Leases

Operating lease commitments as of December 31, 2018 had the following maturities:




	PSE&G		PSEG Power		Other		Total
	Millions
2019	$	15	$	11	$	15	$	41
2020	11		13		16		40
2021	10		13		16		39
2022	8		14		16		38
2023	8		8		15		31
Thereafter	66		51		105		222
Total Minimum Lease Payments	$	118	$	110	$	183	$	411

Lessee, Operating Lease, Liability, Maturity

The following is a reconciliation of the undiscounted cash flows to the discounted Operating Lease Liabilities recognized on the Consolidated Balance Sheets:




	As of December 31, 2019
	PSE&G			PSEG Power			Other			Total
	Millions
Undiscounted Cash Flows	$	126		$	100		$	168		$	394
Reconciling Amount due to Discount Rate	(27		)	(28		)	(33		)	(88		)
Total Discounted Operating Lease Liabilities	$	99		$	72		$	135		$	306

Operating lease liabilities as of December 31, 2019 had the following maturities:




	PSE&G		PSEG Power		Other		Total
	Millions
2020	$	15	$	13	$	16	$	44
2021	13		14		16		43
2022	10		14		16		40
2023	9		8		15		32
2024	8		3		15		26
Thereafter	71		48		90		209
Total Minimum Lease Payments	$	126	$	100	$	168	$	394

Operating Lease, Lease Income

The following is the operating lease income for PSEG Power and Energy Holdings for the year ended December 31, 2019:




	PSEG Power		Energy Holdings		Total
	Millions
Operating Lease Income
Year Ended December 31, 2019
Fixed Lease Income	$	—	$	22	$	22
Variable Lease Income	23		—		23
Total Operating Lease Income	$	23	$	22	$	45

Lessor, Operating Lease, Payments to be Received, Maturity

Energy Holdings’ operating leases had the following minimum future fixed lease receipts as of December 31, 2019:




	Millions
2020	$	20
2021	18
2022	17
2023	17
2024	16
Thereafter	172
Total Minimum Future Lease Receipts	$	260