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Condensed Consolidated Statements Of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating Revenues $ 2,370 $ 2,302 $ 7,201 $ 7,598
Operating Expenses [Abstract]        
Energy Costs 775 753 2,276 2,581
Operation and Maintenance 767 745 2,254 2,251
Depreciation and Amortization 317 307 956 928
(Gain) Loss on Disposition of Assets (122) 7 (122) 402
Total Operating Expenses 1,737 1,812 5,364 6,162
OPERATING INCOME 633 490 1,837 1,436
Income from Equity Method Investments 4 3 10 10
Net Gains (Losses) on Trust Investments 107 (3) 87 164
Other Income (Deductions) 39 35 81 101
Non-Operating Pension and OPEB Credits (Costs) 62 55 186 121
Interest Expense (149) (147) (453) (417)
Income Before Income Taxes 696 433 1,748 1,415
Income Tax Benefit (Expense) (121) (30) (274) (159)
Net Income (Loss) $ 575 [1] $ 403 $ 1,474 [1] $ 1,256 [1]
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
BASIC (shares) 504 504 504 504
DILUTED (shares) 507 507 507 507
EARNINGS PER SHARE:        
BASIC (dollars per share) $ 1.15 $ 0.80 $ 2.93 $ 2.49
DILUTED (dollars per share) $ 1.14 $ 0.79 $ 2.91 $ 2.47
Public Service Electric and Gas Company [Member]        
Operating Revenues $ 1,660 $ 1,604 $ 4,999 $ 5,018
Operating Expenses [Abstract]        
Energy Costs 663 618 1,881 2,094
Operation and Maintenance 409 388 1,175 1,165
Depreciation and Amortization 218 206 657 620
Total Operating Expenses 1,290 1,212 3,713 3,879
OPERATING INCOME 370 392 1,286 1,139
Net Gains (Losses) on Trust Investments 1 0 2 1
Other Income (Deductions) 28 22 81 60
Non-Operating Pension and OPEB Credits (Costs) 51 46 154 105
Interest Expense (97) (92) (291) (268)
Income Before Income Taxes 353 368 1,232 1,037
Income Tax Benefit (Expense) (40) (24) (196) (63)
Net Income (Loss) 313 344 1,036 974
PSEG Power [Member]        
Operating Revenues 746 771 2,649 3,270
Operating Expenses [Abstract]        
Energy Costs 290 359 1,289 1,556
Operation and Maintenance 213 233 679 736
Depreciation and Amortization 91 93 276 282
(Gain) Loss on Disposition of Assets (122) 7 (122) 402
Total Operating Expenses 472 692 2,122 2,976
OPERATING INCOME 274 79 527 294
Income from Equity Method Investments 4 3 10 10
Net Gains (Losses) on Trust Investments 103 (4) 79 160
Other Income (Deductions) 11 15 0 43
Non-Operating Pension and OPEB Credits (Costs) 8 8 25 14
Interest Expense (28) (34) (92) (85)
Income Before Income Taxes 372 67 549 436
Income Tax Benefit (Expense) (118) (14) (112) (127)
Net Income (Loss) $ 254 $ 53 $ 437 $ 309
[1] Includes an after-tax gain of $86 million in the three months and nine months ended September 30, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility and an after-tax loss of $286 million in the nine months ended September 30, 2019 related to the sale of PSEG Power’s ownership interests in the Keystone and Conemaugh fossil generation plants. See Item 1. Note 4. Early Plant Retirements/Asset Dispositions for additional information.