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Consolidated Statements Of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Revenues $ 9,722 $ 9,603 $ 10,076
Operating Expenses [Abstract]      
Energy Costs 3,499 3,056 3,372
Operation and Maintenance 3,226 3,115 3,111
Depreciation and Amortization 1,216 1,285 1,248
(Gains) Losses on Asset Dispositions and Impairments 2,637 (123) 402
Total Operating Expenses 10,578 7,333 8,133
OPERATING INCOME (856) 2,270 1,943
Income from Equity Method Investments 16 14 14
Net Gains (Losses) on Trust Investments 194 253 260
Other Income (Deductions) 98 115 125
Non-Operating Pension and Other Postretirement Plan Credits (Costs) 328 249 177
Loss on Extinguishment of Debt (298) 0 0
Interest Expense (571) (600) (569)
Income (Loss) before Income Taxes (1,089) 2,301 1,950
Income Tax (Expense) Benefit 441 (396) (257)
Net Income $ (648) [1] $ 1,905 [1] $ 1,693
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:      
BASIC 504 504 504
DILUTED 504 507 507
EARNINGS PER SHARE:      
NET INCOME, BASIC $ (1.29) $ 3.78 $ 3.35
NET INCOME, DILUTED $ (1.29) $ 3.76 $ 3.33
Public Service Electric and Gas Company      
Operating Revenues $ 7,122 $ 6,608 $ 6,625
Operating Expenses [Abstract]      
Energy Costs 2,688 2,469 2,738
Operation and Maintenance 1,692 1,614 1,581
Depreciation and Amortization 928 887 837
(Gains) Losses on Asset Dispositions and Impairments (4) (1) 0
Total Operating Expenses 5,304 4,969 5,156
OPERATING INCOME 1,818 1,639 1,469
Net Gains (Losses) on Trust Investments 2 3 2
Other Income (Deductions) 88 108 83
Non-Operating Pension and Other Postretirement Plan Credits (Costs) 264 205 150
Interest Expense (402) (388) (361)
Income (Loss) before Income Taxes 1,770 1,567 1,343
Income Tax (Expense) Benefit (324) (240) (93)
Net Income $ 1,446 $ 1,327 $ 1,250
[1] Includes after-tax impairment losses and other charges, including debt extinguishment costs, related to the sale of the fossil generating assets at PSEG Power of $2,158 million in the year ended December 31, 2021. Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility and an after-tax loss of $286 million in the year ended December 31, 2019 related to the sale of PSEG Power’s ownership interests in the Keystone and Conemaugh fossil generation plants. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information.(D)Includes net after-tax losses of $446 million and $58 million in the years ended December 31, 2021 and 2020 and a net after-tax gain of $205 million in the year ended December 31, 2019 at PSEG Power related to the impacts of non-trading commodity mark-to-market activity, which consists of the financial impact from positions with future delivery dates.