Earnings Per Share (EPS) and Dividends

9 Months Ended

Sep. 30, 2021

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 September 30,								Nine Months Ended September 30,
	2021				2020				2021				2020
	Basic		Diluted		Basic		Diluted		Basic		Diluted		Basic		Diluted
EPS Numerator (Millions):
Net Income (Loss)	$	(1,564)	$	(1,564)	$	575	$	575	$	(1,093)	$	(1,093)	$	1,474	$	1,474
EPS Denominator (Millions):
Weighted Average Common Shares Outstanding	504		504		504		504		504		504		504		504
Effect of Stock Based Compensation Awards	—		—		—		3		—		—		—		3
Total Shares	504		504		504		507		504		504		504		507

EPS
Net Income (Loss)	$	(3.10)	$	(3.10)	$	1.15	$	1.14	$	(2.17)	$	(2.17)	$	2.93	$	2.91

Approximately 3 million potentially dilutive shares were excluded from total shares used to calculate the diluted loss per share for the three months and nine months ended September 30, 2021 as their impact was antidilutive.

Dividends



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Dividend Payments on Common Stock	2021		2020		2021		2020
Per Share	$	0.51	$	0.49	$	1.53	$	1.47
In Millions	$	257	$	248	$	773	$	743