Earnings Per Share (EPS) and Dividends

3 Months Ended

Mar. 31, 2023

EPS

Basic EPS is calculated by dividing Net Income (Loss) by the weighted average number of shares of common stock outstanding. Diluted EPS is calculated by dividing Net Income (Loss) by the weighted average number of shares of common stock outstanding, plus dilutive potential shares related to PSEG’s stock based compensation. The following table shows the effect of these dilutive potential shares on the weighted average number of shares outstanding used in calculating diluted EPS:



	Three Months Ended March 31,
		2023	2022
			Basic		Diluted		Basic		Diluted
EPS Numerator (Millions):
Net Income (Loss)			$	1,287	$	1,287	$	(2)	$	(2)
EPS Denominator (Millions):
Weighted Average Common Shares Outstanding			497		497		501		501
Effect of Stock Based Compensation Awards			—		3		—		—
Total Shares			497		500		501		501

EPS
Net Income (Loss)			$	2.59	$	2.58	$	0.00	$	0.00

Approximately 3 million potentially dilutive shares were excluded from total shares used to calculate the diluted loss per share for the three months ended March 31, 2022 as their impact was antidilutive.

Dividends



	Three Months Ended
	March 31,
Dividend Payments on Common Stock		2023		2022
Per Share		$	0.57	$	0.54
In Millions		$	284	$	271