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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash and Cash Equivalents $ 147 $ 177
Accounts Receivable, net of allowances 1,313 1,435
Tax Receivable 21 242
Unbilled Revenues 239 240
Fuel 310 331
Materials and Supplies, net 587 571
Prepayments 79 94
Derivative Contracts 113 11
Regulatory Assets 351 389
Assets Held for Sale 30 0
Other 41 17
Total Current Assets 3,231 3,507
PROPERTY, PLANT AND EQUIPMENT 45,944 44,201
Less: Accumulated Depreciation and Amortization (10,100) (9,838)
Net Property, Plant and Equipment 35,844 34,363
NONCURRENT ASSETS    
Regulatory Assets 3,677 3,399
Operating Lease, Right-of-Use Asset 282 0
Long-Term Investments 812 896
Nuclear Decommissioning Trust (NDT) Fund 2,216 1,878
Income Taxes Receivable, Noncurrent 150 0
Long-Term Receivable of VIEs 813 624
Rabbi Trust 246 224
Goodwill 0 16
Other Intangibles 149 143
Derivative Contracts 24 1
Other 286 275
Total Noncurrent Assets 8,655 7,456
Total Assets 47,730 45,326
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 1,365 1,294
Commercial Paper and Loans 1,115 1,016
Accounts Payable 1,358 1,451
Derivative Contracts 36 11
Accrued Interest 116 110
Accrued Taxes 41 26
Clean Energy Program 143 143
Obligation to Return Cash Collateral 119 136
Regulatory Liabilities 234 311
Other 520 437
Total Current Liabilities 5,047 4,935
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 6,256 5,713
Regulatory Liabilities 3,002 3,221
Operating Leases 273 0
Asset Retirement Obligations 1,087 1,063
Other Postretirement Benefit (OPEB) Costs 734 704
OPEB Costs of Servco 626 501
Accrued Pension Costs 952 791
Accrued Pension Costs of Servco 171 109
Environmental Costs 349 327
Derivative Contracts 1 4
Long-Term Accrued Taxes 182 181
Other 218 232
Total Noncurrent Liabilities 13,851 12,846
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 13,743 13,168
STOCKHOLDER'S EQUITY    
Common Stock 5,003 4,980
Treasury Stock, at cost (831) (808)
Retained Earnings 11,406 10,582
Accumulated Other Comprehensive Income (Loss) (489) (377)
Total Stockholder's Equity 15,089 14,377
Total Capitalization 28,832 27,545
TOTAL LIABILITIES AND CAPITALIZATION 47,730 45,326
Public Service Electric and Gas Company    
CURRENT ASSETS    
Cash and Cash Equivalents 21 39
Accounts Receivable, net of allowances 901 879
Tax Receivable 0 20
Accounts Receivable-Affiliated Companies 1 123
Unbilled Revenues 239 240
Materials and Supplies, net 213 196
Prepayments 35 10
Regulatory Assets 351 389
Other 28 11
Total Current Assets 1,789 1,907
PROPERTY, PLANT AND EQUIPMENT 33,900 31,633
Less: Accumulated Depreciation and Amortization (6,623) (6,277)
Net Property, Plant and Equipment 27,277 25,356
NONCURRENT ASSETS    
Regulatory Assets 3,677 3,399
Operating Lease, Right-of-Use Asset 98 0
Long-Term Investments 248 270
Rabbi Trust 48 45
Other 129 132
Total Noncurrent Assets 4,200 3,846
Total Assets 33,266 31,109
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 259 500
Commercial Paper and Loans 362 272
Accounts Payable 639 713
Accounts Payable-Affiliated Companies 390 321
Accrued Interest 91 84
Clean Energy Program 143 143
Obligation to Return Cash Collateral 119 136
Regulatory Liabilities 234 311
Other 436 345
Total Current Liabilities 2,673 2,825
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 4,189 3,830
Regulatory Liabilities 3,002 3,221
Operating Leases 87 0
Asset Retirement Obligations 303 302
Other Postretirement Benefit (OPEB) Costs 495 486
Accrued Pension Costs 501 400
Environmental Costs 294 268
Long-Term Accrued Taxes 115 69
Other 136 124
Total Noncurrent Liabilities 9,122 8,700
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 9,568 8,684
STOCKHOLDER'S EQUITY    
Common Stock 892 892
Contributed Capital 1,095 1,095
Basis Adjustment 986 986
Retained Earnings 8,928 7,928
Accumulated Other Comprehensive Income (Loss) 2 (1)
Total Stockholder's Equity 11,903 10,900
Total Capitalization 21,471 19,584
TOTAL LIABILITIES AND CAPITALIZATION 33,266 31,109
PSEG Power LLC    
CURRENT ASSETS    
Cash and Cash Equivalents 21 22
Accounts Receivable, net of allowances 309 477
Accounts Receivable-Affiliated Companies 408 274
Short-Term Loan to Affiliate 149 [1] 0
Fuel 310 331
Materials and Supplies, net 372 373
Prepayments 11 14
Derivative Contracts [2] 113 11
Assets Held for Sale 28 0
Other 5 5
Total Current Assets 1,726 1,507
PROPERTY, PLANT AND EQUIPMENT 11,699 12,224
Less: Accumulated Depreciation and Amortization (3,273) (3,382)
Net Property, Plant and Equipment 8,426 8,842
NONCURRENT ASSETS    
Operating Lease, Right-of-Use Asset 71 0
Long-Term Investments 66 86
Nuclear Decommissioning Trust (NDT) Fund 2,216 1,878
Rabbi Trust 62 56
Goodwill 0 16
Other Intangibles 149 143
Derivative Contracts [2] 24 1
Other 65 65
Total Noncurrent Assets 2,653 2,245
Total Assets 12,805 12,594
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 406 44
Accounts Payable 505 498
Derivative Contracts [2] 31 11
Accounts Payable-Affiliated Companies 5 16
Short Term Loan from Affiliate 0 193 [1]
Accrued Interest 21 21
Other 91 59
Total Current Liabilities 1,059 842
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 1,876 1,619
Operating Leases 62 0
Asset Retirement Obligations 781 758
Other Postretirement Benefit (OPEB) Costs 192 176
Accrued Pension Costs 284 246
Derivative Contracts [2] 1 4
Long-Term Accrued Taxes 115 76
Other 111 122
Total Noncurrent Liabilities 3,422 3,001
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 2,434 2,791
STOCKHOLDER'S EQUITY    
Contributed Capital 2,214 2,214
Basis Adjustment (986) (986)
Retained Earnings 5,063 5,051
Accumulated Other Comprehensive Income (Loss) (401) (319)
Total Stockholder's Equity 5,890 5,960
TOTAL LIABILITIES AND CAPITALIZATION $ 12,805 $ 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 December 31, 2019 and 2018.