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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash and Cash Equivalents $ 803 $ 543
Accounts Receivable, net of allowance 1,476 1,410
Tax Receivable 7 63
Unbilled Revenues, net of allowance 187 229
Fuel 129 277
Materials and Supplies, net 609 601
Prepayments 76 51
Derivative Contracts 29 60
Regulatory Assets 249 369
Other 30 27
Total Current Assets 3,595 3,630
PROPERTY, PLANT AND EQUIPMENT 49,063 48,569
Less: Accumulated Depreciation and Amortization (11,277) (10,984)
Net Property, Plant and Equipment 37,786 37,585
NONCURRENT ASSETS    
Regulatory Assets 3,832 3,872
Operating Lease, Right-of-Use Asset 255 262
Long-Term Investments 512 536
Nuclear Decommissioning Trust (NDT) Fund 2,525 2,501
Long-Term Tax Receivable 43 0
Long-Term Receivable of Variable Interest Entities (VIEs) 950 945
Rabbi Trust Fund 238 266
Other Intangibles 163 158
Derivative Contracts 19 9
Other 288 286
Total Noncurrent Assets 8,825 8,835
Total Assets 50,206 50,050
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 1,429 1,684
Commercial Paper and Loans 665 1,063
Accounts Payable 984 1,332
Derivative Contracts 26 21
Accrued Interest 173 126
Accrued Taxes 160 124
Clean Energy Program 86 143
Obligation to Return Cash Collateral 94 98
Regulatory Liabilities 271 294
Other 658 637
Total Current Liabilities 4,546 5,522
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 6,630 6,502
Regulatory Liabilities 2,659 2,707
Operating Leases 244 252
Asset Retirement Obligations 1,224 1,212
OPEB Costs 727 730
OPEB Costs of Servco 706 699
Accrued Pension Costs 1,079 1,128
Accrued Pension Costs of Servco 223 226
Environmental Costs 245 286
Derivative Contracts 2 4
Long-Term Accrued Taxes 81 88
Other 217 214
Total Noncurrent Liabilities 14,037 14,048
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 15,346 14,496
STOCKHOLDER'S EQUITY    
Common Stock, Value, Issued 5,013 5,031
Treasury Stock, at cost (902) (861)
Retained Earnings 12,708 12,318
Accumulated Other Comprehensive Income (Loss) (542) (504)
Total Stockholder's Equity 16,277 15,984
Total Capitalization 31,623 30,480
TOTAL LIABILITIES AND CAPITALIZATION 50,206 50,050
Public Service Electric and Gas Company [Member]    
CURRENT ASSETS    
Cash and Cash Equivalents 631 204
Accounts Receivable, net of allowance 1,085 1,004
Unbilled Revenues, net of allowance 187 229
Materials and Supplies, net 220 217
Prepayments 22 14
Regulatory Assets 249 369
Other 17 13
Total Current Assets 2,411 2,050
PROPERTY, PLANT AND EQUIPMENT 36,771 36,300
Less: Accumulated Depreciation and Amortization (7,292) (7,149)
Net Property, Plant and Equipment 29,479 29,151
NONCURRENT ASSETS    
Regulatory Assets 3,832 3,872
Operating Lease, Right-of-Use Asset 96 99
Long-Term Investments 217 222
Rabbi Trust Fund 43 51
Other 139 136
Total Noncurrent Assets 4,327 4,380
Total Assets 36,217 35,581
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 134 434
Commercial Paper and Loans 0 100
Accounts Payable 417 671
Accounts Payable-Affiliated Companies 488 479
Accrued Interest 116 101
Clean Energy Program 86 143
Obligation to Return Cash Collateral 94 98
Regulatory Liabilities 271 294
Other 554 530
Total Current Liabilities 2,160 2,850
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 4,617 4,524
Regulatory Liabilities 2,659 2,707
Operating Leases 86 88
Asset Retirement Obligations 315 314
OPEB Costs 481 485
Accrued Pension Costs 579 612
Environmental Costs 195 236
Long-Term Accrued Taxes 1 7
Other 153 154
Total Noncurrent Liabilities 9,086 9,127
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 11,368 10,475
STOCKHOLDER'S EQUITY    
Common Stock, Value, Issued 892 892
Contributed Capital 1,170 1,170
Basis Adjustment 986 986
Retained Earnings 10,555 10,078
Accumulated Other Comprehensive Income (Loss) 0 3
Total Stockholder's Equity 13,603 13,129
Total Capitalization 24,971 23,604
TOTAL LIABILITIES AND CAPITALIZATION 36,217 35,581
PSEG Power [Member]    
CURRENT ASSETS    
Cash and Cash Equivalents 27 27
Accounts Receivable, net of allowance 350 328
Accounts Receivable-Affiliated Companies 258 317
Short-Term Loan to Affiliate [1] 403 161
Fuel 129 277
Materials and Supplies, net 387 382
Prepayments 26 16
Derivative Contracts [2] 29 60
Other 1 2
Total Current Assets 1,610 1,570
PROPERTY, PLANT AND EQUIPMENT 11,882 11,872
Less: Accumulated Depreciation and Amortization (3,756) (3,624)
Net Property, Plant and Equipment 8,126 8,248
NONCURRENT ASSETS    
Operating Lease, Right-of-Use Asset 58 61
Long-Term Investments 66 64
Nuclear Decommissioning Trust (NDT) Fund 2,525 2,501
Rabbi Trust Fund 62 66
Other Intangibles 163 158
Derivative Contracts [2] 19 9
Other 25 27
Total Noncurrent Assets 2,918 2,886
Total Assets 12,654 12,704
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 995 950
Accounts Payable 417 459
Accounts Payable-Affiliated Companies 34 13
Derivative Contracts [2] 26 21
Accrued Interest 37 16
Other 102 101
Total Current Liabilities 1,611 1,560
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 1,926 1,936
Operating Leases 48 51
Asset Retirement Obligations 905 895
OPEB Costs 197 197
Accrued Pension Costs 311 321
Derivative Contracts [2] 2 4
Long-Term Accrued Taxes 57 57
Other 81 79
Total Noncurrent Liabilities 3,527 3,540
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 1,348 1,392
STOCKHOLDER'S EQUITY    
Contributed Capital 2,310 2,310
Basis Adjustment (986) (986)
Retained Earnings 5,293 5,307
Accumulated Other Comprehensive Income (Loss) (449) (419)
Total Stockholder's Equity 6,168 6,212
TOTAL LIABILITIES AND CAPITALIZATION $ 12,654 $ 12,704
[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 March 31, 2021 and December 31, 2020.