Income Taxes (Tables)

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Schedule Of Effective Tax Rates

A reconciliation of reported income tax expense for PSEG with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows:

	Three Months Ended
PSEG	March 31,
	2023			2022
	Millions
Pre-Tax Income (Loss)	$	1,585		$	(154)
Tax Computed at Statutory Rate @ 21%	$	333		$	(32)
Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments:
State Income Taxes (net of federal income tax)	108			(29)
Uncertain Tax Positions	(6)			(3)
Leasing Activities	(17)			—
Green Program Recovery Charges (GPRC)-Clean Energy Future (CEF)-EE	(16)			(6)
Estimated Annual Effective Tax Rate Interim Period Adjustment	(23)			(12)
Tax Adjustment Credit (TAC)	(75)			(73)
Other	(6)			3
Subtotal	(35)			(120)
Total Income Tax Expense (Benefit)	$	298		$	(152)
Effective Income Tax Rate	18.8		%	98.7		%

A reconciliation of reported income tax expense for PSE&G with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows:

	Three Months Ended
PSE&G	March 31,
	2023			2022
	Millions
Pre-Tax Income	$	541		$	598
Tax Computed at Statutory Rate @ 21%	$	114		$	126
Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments:
State Income Taxes (net of federal income tax)	38			41
GPRC-CEF-EE	(16)			(6)
TAC	(75)			(73)
Other	(7)			1
Subtotal	(60)			(37)
Total Income Tax Expense (Benefit)	$	54		$	89
Effective Income Tax Rate	10.0		%	14.9		%