XML 166 R137.htm IDEA: XBRL DOCUMENT v3.20.4
Income Taxes (Reconciliation Of Reported Income Tax Expense) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Taxes [Line Items]      
Net Income $ 1,905 [1] $ 1,693 [1] $ 1,438
Federal 385 84 (97)
State 48 18 83
Total Current 433 102 (14)
Federal (164) 3 373
State 141 132 71
Total Deferred (23) 135 444
Investment tax credit (14) 20 (13)
Total Income Tax 396 257 417
Pre-Tax Income 2,301 1,950 1,855
Tax Computed at Statutory Rate 483 410 390
State Income Taxes (net of federal income tax) 147 117 123
Uncertain Tax Positions 3 0 (24)
Nuclear Decommissioning Trust 32 34 (13)
Plant-Related Items (9) (2) (10)
Tax Credits (18) (18) (16)
Effective Income Tax Rate Reconciliation, Tax Settlement, Domestic, Amount (27) 0 0
Effective Income Tax Rate Reconciliation, Leasing Activities, Amount (35) 0 0
Tax Adjustment Credit (205) (272) (30)
Effective Income Tax Rate Reconciliation, Bad Debt Flow Through, Amount 28 0 0
Other (3) (12) (6)
Sub-Total (87) (153) 27
Income Tax Provision $ 396 $ 257 $ 417
Effective income tax rate 17.20% 13.20% 22.50%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount $ 0 $ 0 $ 3
Public Service Electric and Gas Company      
Income Taxes [Line Items]      
Net Income 1,327 1,250 1,067
Federal 179 121 (62)
State 8 0 1
Total Current 187 121 (61)
Federal (71) (156) 287
State 128 117 122
Total Deferred 57 (39) 409
Investment tax credit (4) 11 (4)
Total Income Tax 240 93 344
Pre-Tax Income 1,567 1,343 1,411
Tax Computed at Statutory Rate 329 282 296
State Income Taxes (net of federal income tax) 106 92 98
Uncertain Tax Positions 4 1 (1)
Plant-Related Items (9) (2) (10)
Tax Credits (9) (8) (8)
Effective Income Tax Rate Reconciliation, Tax Settlement, Domestic, Amount (2) 0 0
Tax Adjustment Credit (205) (272) (30)
Effective Income Tax Rate Reconciliation, Bad Debt Flow Through, Amount 28 0 0
Other (2) 0 (1)
Sub-Total (89) (189) 48
Income Tax Provision $ 240 $ 93 $ 344
Effective income tax rate 15.30% 6.90% 24.40%
PSEG Power LLC      
Income Taxes [Line Items]      
Net Income $ 594 $ 468 $ 365
Federal 135 (48) (164)
State (7) 3 24
Total Current 128 (45) (140)
Federal 39 208 214
State 31 31 1
Total Deferred 70 239 215
Investment tax credit (10) 9 (9)
Total Income Tax 188 203 66
Pre-Tax Income 782 671 431
Tax Computed at Statutory Rate 164 141 91
State Income Taxes (net of federal income tax) 18 25 21
Uncertain Tax Positions 5 11 (24)
Nuclear Decommissioning Trust 32 34 (13)
Tax Credits (9) (10) (7)
Effective Income Tax Rate Reconciliation, Tax Settlement, Domestic, Amount (21) 0 0
Other (1) 2 (1)
Sub-Total 24 62 (25)
Income Tax Provision $ 188 $ 203 $ 66
Effective income tax rate 24.00% 30.30% 15.30%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount $ 0 $ 0 $ (1)
[1] Includes an after-tax gain of $86 million in the year ended December 31, 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 year ended December 31, 2019 related to the sale of PSEG Power’s ownership interests in the Keystone and Conemaugh fossil generation plants. See Note 4. Early Plant Retirements/Asset Dispositions for additional information.