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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash and Cash Equivalents $ 107 $ 543
Accounts Receivable, net of allowance 1,408 1,410
Tax Receivable 9 63
Unbilled Revenues, net of allowance 207 229
Fuel 207 277
Materials and Supplies, net 612 601
Prepayments 253 51
Derivative Contracts 35 60
Regulatory Assets 321 369
Other 42 27
Total Current Assets 3,201 3,630
PROPERTY, PLANT AND EQUIPMENT 48,270 48,569
Less: Accumulated Depreciation and Amortization (11,226) (10,984)
Net Property, Plant and Equipment 37,044 37,585
NONCURRENT ASSETS    
Regulatory Assets 3,945 3,872
Operating Lease, Right-of-Use Asset 214 262
Long-Term Investments 593 536
Nuclear Decommissioning Trust (NDT) Fund 2,628 2,501
Long-Term Tax Receivable 47 0
Long-Term Receivable of Variable Interest Entities (VIEs) 954 945
Rabbi Trust Fund 245 266
Other Intangibles 122 158
Derivative Contracts 8 9
Other 291 286
Total Noncurrent Assets 9,047 8,835
Total Assets 49,292 50,050
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 345 1,684
Commercial Paper and Loans 1,450 1,063
Accounts Payable 1,146 1,332
Derivative Contracts 34 21
Accrued Interest 126 126
Accrued Taxes 235 124
Clean Energy Program 231 143
Obligation to Return Cash Collateral 101 98
Regulatory Liabilities 301 294
Other 523 637
Total Current Liabilities 4,492 5,522
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 6,219 6,502
Regulatory Liabilities 2,628 2,707
Operating Leases 204 252
Asset Retirement Obligations 1,270 1,212
OPEB Costs 722 730
OPEB Costs of Servco 714 699
Accrued Pension Costs 1,030 1,128
Accrued Pension Costs of Servco 220 226
Environmental Costs 237 286
Derivative Contracts 6 4
Long-Term Accrued Taxes 90 88
Other 232 214
Total Noncurrent Liabilities 13,572 14,048
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 15,350 14,496
STOCKHOLDER'S EQUITY    
Common Stock, Value, Issued 5,026 5,031
Treasury Stock, at cost (899) (861)
Retained Earnings 12,273 12,318
Accumulated Other Comprehensive Income (Loss) (522) (504)
Total Stockholder's Equity 15,878 15,984
Total Capitalization 31,228 30,480
TOTAL LIABILITIES AND CAPITALIZATION 49,292 50,050
Public Service Electric and Gas Company [Member]    
CURRENT ASSETS    
Cash and Cash Equivalents 40 204
Accounts Receivable, net of allowance 991 1,004
Unbilled Revenues, net of allowance 207 229
Materials and Supplies, net 227 217
Prepayments 204 14
Regulatory Assets 321 369
Other 28 13
Total Current Assets 2,018 2,050
PROPERTY, PLANT AND EQUIPMENT 37,357 36,300
Less: Accumulated Depreciation and Amortization (7,389) (7,149)
Net Property, Plant and Equipment 29,968 29,151
NONCURRENT ASSETS    
Regulatory Assets 3,945 3,872
Operating Lease, Right-of-Use Asset 93 99
Long-Term Investments 202 222
Rabbi Trust Fund 44 51
Other 126 136
Total Noncurrent Assets 4,410 4,380
Total Assets 36,396 35,581
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 0 434
Commercial Paper and Loans 0 100
Accounts Payable 525 671
Accounts Payable-Affiliated Companies 300 479
Accrued Interest 104 101
Clean Energy Program 231 143
Obligation to Return Cash Collateral 101 98
Regulatory Liabilities 301 294
Other 437 530
Total Current Liabilities 1,999 2,850
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 4,716 4,524
Regulatory Liabilities 2,628 2,707
Operating Leases 83 88
Asset Retirement Obligations 316 314
OPEB Costs 476 485
Accrued Pension Costs 546 612
Environmental Costs 187 236
Long-Term Accrued Taxes 4 7
Other 158 154
Total Noncurrent Liabilities 9,114 9,127
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 11,370 10,475
STOCKHOLDER'S EQUITY    
Common Stock, Value, Issued 892 892
Contributed Capital 1,170 1,170
Basis Adjustment 986 986
Retained Earnings 10,864 10,078
Accumulated Other Comprehensive Income (Loss) 1 3
Total Stockholder's Equity 13,913 13,129
Total Capitalization 25,283 23,604
TOTAL LIABILITIES AND CAPITALIZATION 36,396 35,581
PSEG Power [Member]    
CURRENT ASSETS    
Cash and Cash Equivalents 2 27
Accounts Receivable, net of allowance 367 328
Accounts Receivable-Affiliated Companies 165 317
Short-Term Loan to Affiliate 0 161 [1]
Fuel 207 277
Materials and Supplies, net 382 382
Prepayments 18 16
Derivative Contracts [2] 35 60
Other 1 2
Total Current Assets 1,177 1,570
PROPERTY, PLANT AND EQUIPMENT 10,500 11,872
Less: Accumulated Depreciation and Amortization (3,599) (3,624)
Net Property, Plant and Equipment 6,901 8,248
NONCURRENT ASSETS    
Operating Lease, Right-of-Use Asset 23 61
Long-Term Investments 67 64
Nuclear Decommissioning Trust (NDT) Fund 2,628 2,501
Rabbi Trust Fund 64 66
Other Intangibles 122 158
Derivative Contracts [2] 8 9
Other 41 27
Total Noncurrent Assets 2,953 2,886
Total Assets 11,031 12,704
CURRENT LIABILITIES    
Long-Term Debt Due Within One Year 45 950
Accounts Payable 443 459
Accounts Payable-Affiliated Companies 199 13
Short Term Loan from Affiliate 121 [1] 0
Derivative Contracts [2] 34 21
Accrued Interest 11 16
Other 97 101
Total Current Liabilities 950 1,560
NONCURRENT LIABILITIES    
Deferred Income Taxes and Investment Tax Credits (ITC) 1,411 1,936
Operating Leases 13 51
Asset Retirement Obligations 951 895
OPEB Costs 197 197
Accrued Pension Costs 298 321
Derivative Contracts [2] 6 4
Long-Term Accrued Taxes 64 57
Other 92 79
Total Noncurrent Liabilities 3,032 3,540
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT    
Total Long-Term Debt 1,349 1,392
STOCKHOLDER'S EQUITY    
Contributed Capital 2,310 2,310
Basis Adjustment (986) (986)
Retained Earnings 4,810 5,307
Accumulated Other Comprehensive Income (Loss) (434) (419)
Total Stockholder's Equity 5,700 6,212
TOTAL LIABILITIES AND CAPITALIZATION $ 11,031 $ 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 June 30, 2021 and December 31, 2020.