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Leases (Tables)

12 Months Ended

Dec. 31, 2021

The following amounts relate to total operating lease costs, including both amounts recognized in the Consolidated Statements of Operations during the years ended December 31, 2021, 2020 and 2019 and any amounts capitalized as part of the cost of another asset, and the cash flows arising from lease transactions.



	PSE&G			Other			Total
	Millions
Operating Lease Costs





Year Ended December 31, 2021
Long-term Lease Costs	$	24		$	26		$	50
Short-term Lease Costs	36			6			42
Variable Lease Costs	2			18			20
Total Operating Lease Costs	$	62		$	50		$	112



Year Ended December 31, 2021
Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	$	17		$	26		$	43

Weighted Average Remaining Lease Term in Years	12			8			9
Weighted Average Discount Rate	3.4		%	4.1		%	3.8		%



	PSE&G			Other			Total
	Millions
Operating Lease Costs





Year Ended December 31, 2020
Long-term Lease Costs	$	26		$	28		$	54
Short-term Lease Costs	38			7			45
Variable Lease Costs	2			29			31
Total Operating Lease Costs	$	66		$	64		$	130



Year Ended December 31, 2020
Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	$	17		$	28		$	45

Weighted Average Remaining Lease Term in Years	12			11			11
Weighted Average Discount Rate	3.5		%	4.3		%	4.0		%



	PSE&G			Other			Total
	Millions
Operating Lease Costs





Year Ended December 31, 2019
Long-term Lease Costs	$	24		$	28		$	52
Short-term Lease Costs	14			10			24
Variable Lease Costs	2			20			22
Total Operating Lease Costs	$	40		$	58		$	98



Year Ended December 31, 2019
Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	$	16		$	26		$	42

Weighted Average Remaining Lease Term in Years	13			11			12
Weighted Average Discount Rate	3.6		%	4.3		%	4.1		%

Lessee, Operating Lease, Liability, Maturity

Operating lease liabilities as of December 31, 2021 had the following maturities on an undiscounted basis:



	PSE&G		Other		Total
	Millions
2022	$	15	$	25	$	40
2023	12		20		32
2024	10		16		26
2025	9		16		25
2026	8		15		23
Thereafter	63		60		123
Total Minimum Lease Payments	$	117	$	152	$	269

The following is a reconciliation of the undiscounted cash flows to the discounted Operating Lease Liabilities recognized on the Consolidated Balance Sheets:



	As of December 31, 2021
	PSE&G		Other		Total
	Millions
Undiscounted Cash Flows	$	117	$	152	$	269
Reconciling Amount due to Discount Rate	(22)		(23)		(45)
Total Discounted Operating Lease Liabilities	$	95	$	129	$	224

	As of December 31, 2020
	PSE&G		Other		Total
	Millions
Undiscounted Cash Flows	$	127	$	239	$	366
Reconciling Amount due to Discount Rate	(26)		(54)		(80)
Total Discounted Operating Lease Liabilities	$	101	$	185	$	286

Operating Lease, Lease Income

The following is the operating lease income for the years ended December 31, 2021, 2020 and 2019:



Operating Lease Income	Millions




Year Ended December 31, 2021
Fixed Lease Income	$	23
Variable Lease Income	12
Total Operating Lease Income	$	35

Year Ended December 31, 2020
Fixed Lease Income	$	15
Variable Lease Income	26
Total Operating Lease Income	$	41

Year Ended December 31, 2019
Fixed Lease Income	$	22
Variable Lease Income	23
Total Operating Lease Income	$	45

Lessor, Operating Lease, Payments to be Received, Maturity

perating leases had the following minimum future fixed lease receipts as of December 31, 2021:



	Millions
2022	$	18
2023	18
2024	19
2025	19
2026	50
Thereafter	183
Total Minimum Future Lease Receipts	$	307