Earnings Per Share (EPS) and Dividends

9 Months Ended

Sep. 30, 2020

EPS

Diluted EPS is calculated by dividing Net Income by the weighted average number of shares of common stock outstanding, including shares issuable upon exercise of stock options outstanding or vesting of restricted stock awards granted under PSEG’s stock compensation plans and upon payment of performance share units or restricted stock units. The following table shows the effect of these stock options, performance share units and restricted stock units on the weighted average number of shares outstanding used in calculating diluted EPS:



	Three Months Ended September 30,								Nine Months Ended September 30,
	2020				2019				2020				2019
	Basic		Diluted		Basic		Diluted		Basic		Diluted		Basic		Diluted
EPS Numerator (Millions):
Net Income	$	575	$	575	$	403	$	403	$	1,474	$	1,474	$	1,256	$	1,256
EPS Denominator (Millions):
Weighted Average Common Shares Outstanding	504		504		504		504		504		504		504		504
Effect of Stock Based Compensation Awards	—		3		—		3		—		3		—		3
Total Shares	504		507		504		507		504		507		504		507

EPS
Net Income	$	1.15	$	1.14	$	0.80	$	0.79	$	2.93	$	2.91	$	2.49	$	2.47

Dividends



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Dividend Payments on Common Stock	2020		2019		2020		2019
Per Share	$	0.49	$	0.47	$	1.47	$	1.41
In Millions	$	248	$	238	$	743	$	713