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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and Cash Equivalents $ 543 $ 147
Accounts Receivable, net of allowances 1,410 1,313
Tax Receivable 63 21
Unbilled Revenues 229 239
Fuel 277 310
Materials and Supplies, net 601 587
Prepayments 51 79
Derivative Contracts 60 113
Regulatory Assets 369 351
Assets Held for Sale 0 30
Other 27 41
Total Current Assets 3,630 3,231
PROPERTY, PLANT AND EQUIPMENT 48,569 45,944
Less: Accumulated Depreciation and Amortization (10,984) (10,100)
Net Property, Plant and Equipment 37,585 35,844
NONCURRENT ASSETS    
Regulatory Assets 3,872 3,677
Operating Lease, Right-of-Use Asset 262 282
Long-Term Investments 536 812
Nuclear Decommissioning Trust (NDT) Fund 2,501 2,216
Income Taxes Receivable, Noncurrent 0 150
Long-Term Receivable of VIEs 945 813
Rabbi Trust 266 246
Other Intangibles 158 149
Derivative Contracts 9 24
Other 286 286
Total Noncurrent Assets 8,835 8,655
Total Assets 50,050 47,730
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 1,684 1,365
Commercial Paper and Loans 1,063 1,115
Accounts Payable 1,332 1,358
Derivative Contracts 21 36
Accrued Interest 126 116
Accrued Taxes 124 41
Clean Energy Program 143 143
Obligation to Return Cash Collateral 98 119
Regulatory Liabilities 294 234
Other 637 520
Total Current Liabilities 5,522 5,047
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 6,502 6,256
Regulatory Liabilities 2,707 3,002
Operating Leases 252 273
Asset Retirement Obligations 1,212 1,087
Other Postretirement Benefit (OPEB) Costs 730 734
OPEB Costs of Servco 699 626
Accrued Pension Costs 1,128 952
Accrued Pension Costs of Servco 226 171
Environmental Costs 286 349
Derivative Contracts 4 1
Long-Term Accrued Taxes 88 182
Other 214 218
Total Noncurrent Liabilities 14,048 13,851
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 14,496 13,743
STOCKHOLDER'S EQUITY    
Common Stock 5,031 5,003
Treasury Stock, at cost (861) (831)
Retained Earnings 12,318 11,406
Accumulated Other Comprehensive Income (Loss) (504) (489)
Total Stockholder's Equity 15,984 15,089
Total Capitalization 30,480 28,832
TOTAL LIABILITIES AND CAPITALIZATION 50,050 47,730
Public Service Electric and Gas Company    
CURRENT ASSETS    
Cash and Cash Equivalents 204 21
Accounts Receivable, net of allowances 1,004 901
Accounts Receivable-Affiliated Companies 0 1
Unbilled Revenues 229 239
Materials and Supplies, net 217 213
Prepayments 14 35
Regulatory Assets 369 351
Other 13 28
Total Current Assets 2,050 1,789
PROPERTY, PLANT AND EQUIPMENT 36,300 33,900
Less: Accumulated Depreciation and Amortization (7,149) (6,623)
Net Property, Plant and Equipment 29,151 27,277
NONCURRENT ASSETS    
Regulatory Assets 3,872 3,677
Operating Lease, Right-of-Use Asset 99 98
Long-Term Investments 222 248
Rabbi Trust 51 48
Other 136 129
Total Noncurrent Assets 4,380 4,200
Total Assets 35,581 33,266
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 434 259
Commercial Paper and Loans 100 362
Accounts Payable 671 639
Accounts Payable-Affiliated Companies 479 390
Accrued Interest 101 91
Clean Energy Program 143 143
Obligation to Return Cash Collateral 98 119
Regulatory Liabilities 294 234
Other 530 436
Total Current Liabilities 2,850 2,673
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 4,524 4,189
Regulatory Liabilities 2,707 3,002
Operating Leases 88 87
Asset Retirement Obligations 314 303
Other Postretirement Benefit (OPEB) Costs 485 495
Accrued Pension Costs 612 501
Environmental Costs 236 294
Long-Term Accrued Taxes 7 115
Other 154 136
Total Noncurrent Liabilities 9,127 9,122
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 10,475 9,568
STOCKHOLDER'S EQUITY    
Common Stock 892 892
Contributed Capital 1,170 1,095
Basis Adjustment 986 986
Retained Earnings 10,078 8,928
Accumulated Other Comprehensive Income (Loss) 3 2
Total Stockholder's Equity 13,129 11,903
Total Capitalization 23,604 21,471
TOTAL LIABILITIES AND CAPITALIZATION 35,581 33,266
PSEG Power LLC    
CURRENT ASSETS    
Cash and Cash Equivalents 27 21
Accounts Receivable, net of allowances 328 309
Accounts Receivable-Affiliated Companies 317 408
Short-Term Loan to Affiliate [1] 161 149
Fuel 277 310
Materials and Supplies, net 382 372
Prepayments 16 11
Derivative Contracts [2] 60 113
Assets Held for Sale 0 28
Other 2 5
Total Current Assets 1,570 1,726
PROPERTY, PLANT AND EQUIPMENT 11,872 11,699
Less: Accumulated Depreciation and Amortization (3,624) (3,273)
Net Property, Plant and Equipment 8,248 8,426
NONCURRENT ASSETS    
Operating Lease, Right-of-Use Asset 61 71
Long-Term Investments 64 66
Nuclear Decommissioning Trust (NDT) Fund 2,501 2,216
Rabbi Trust 66 62
Other Intangibles 158 149
Derivative Contracts [2] 9 24
Other 27 65
Total Noncurrent Assets 2,886 2,653
Total Assets 12,704 12,805
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 950 406
Accounts Payable 459 505
Derivative Contracts [2] 21 31
Accounts Payable-Affiliated Companies 13 5
Accrued Interest 16 21
Other 101 91
Total Current Liabilities 1,560 1,059
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 1,936 1,876
Operating Leases 51 62
Asset Retirement Obligations 895 781
Other Postretirement Benefit (OPEB) Costs 197 192
Accrued Pension Costs 321 284
Derivative Contracts [2] 4 1
Long-Term Accrued Taxes 57 115
Other 79 111
Total Noncurrent Liabilities 3,540 3,422
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 1,392 2,434
STOCKHOLDER'S EQUITY    
Contributed Capital 2,310 2,214
Basis Adjustment (986) (986)
Retained Earnings 5,307 5,063
Accumulated Other Comprehensive Income (Loss) (419) (401)
Total Stockholder's Equity 6,212 5,890
TOTAL LIABILITIES AND CAPITALIZATION $ 12,704 $ 12,805
[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, 2020 and 2019.