Intangibles

12 Months Ended

Dec. 31, 2021

Goodwill [Line Items]

Goodwill And Other Intangibles

Intangibles

As of December 31, 2021 and 2020, PSEG had intangible assets of $20 million and $158 million, respectively, related to emissions allowances and RECs. Emissions allowances and RECs are recorded at cost and evaluated for impairment at least annually. Emissions expense includes impairments of emissions allowances, if any, and costs for emissions, which is recorded as emissions occur. As load is served under contracts requiring energy from renewable sources, the related expense is recorded.

The changes to PSEG’s intangible assets during 2020 and 2021 are as follows:

	Emissions Allowances		RECs		Total Intangibles
	Millions
Balance as of January 1, 2020	$	104	$	45	$	149
Retirements	(9)		(93)		(102)
Purchases	17		94		111
Balance as of December 31, 2020	$	112	$	46	$	158
Retirements	(58)		(114)		(172)
Purchases	9		89		98
Sales and Transfers (A)	(62)		(1)		(63)
Impairments	(1)		—		(1)
Balance as of December 31, 2021	$	—	$	20	$	20