Financial Information By Business Segments (Tables)

12 Months Ended

Dec. 31, 2021

Financial Information By Business Segments



	PSE&G		PSEG Power		Other (A)		Eliminations (B)		Consolidated Total
	Millions
Year Ended December 31, 2021
Operating Revenues	$	7,122	$	3,147	$	620	$	(1,167)	$	9,722
Depreciation and Amortization	928		256		32		—		1,216
Operating Income (Loss)	1,818		(2,711)		37		—		(856)
Income from Equity Method Investments	—		16		—		—		16
Interest Income	14		2		8		(4)		20
Interest Expense	402		78		95		(4)		571
Income (Loss) before Income Taxes	1,770		(2,808)		(51)		—		(1,089)
Income Tax Expense (Benefit)	324		(752)		(13)		—		(441)
Net Income (Loss) (C) (D)	$	1,446	$	(2,056)	$	(38)	$	—	$	(648)
Gross Additions to Long-Lived Assets	$	2,447	$	259	$	13	$	—	$	2,719
As of December 31, 2021
Total Assets	$	37,198	$	9,777	$	5,150	$	(3,126)	$	48,999
Investments in Equity Method Subsidiaries	$	—	$	62	$	111	$	—	$	173



	PSE&G		PSEG Power		Other (A)		Eliminations (B)		Consolidated Total
	Millions
Year Ended December 31, 2020
Operating Revenues	$	6,608	$	3,634	$	595	$	(1,234)	$	9,603
Depreciation and Amortization	887		368		30		—		1,285
Operating Income (Loss)	1,639		603		28		—		2,270
Income from Equity Method Investments	—		14		—		—		14
Interest Income	17		6		5		(3)		25
Interest Expense	388		121		94		(3)		600
Income (Loss) before Income Taxes	1,567		782		(48)		—		2,301
Income Tax Expense (Benefit)	240		188		(32)		—		396
Net Income (Loss) (C) (D)	$	1,327	$	594	$	(16)	$	—	$	1,905
Gross Additions to Long-Lived Assets	$	2,507	$	404	$	12	$	—	$	2,923
As of December 31, 2020
Total Assets	$	35,581	$	12,704	$	2,692	$	(927)	$	50,050
Investments in Equity Method Subsidiaries	$	—	$	64	$	—	$	—	$	64



	PSE&G		PSEG Power		Other (A)		Eliminations (B)		Consolidated Total
	Millions
Year Ended December 31, 2019
Operating Revenues	$	6,625	$	4,385	$	549	$	(1,483)	$	10,076
Depreciation and Amortization	837		377		34		—		1,248
Operating Income (Loss)	1,469		448		26		—		1,943
Income from Equity Method Investments	—		14		—		—		14
Interest Income	18		7		6		(5)		26
Interest Expense	361		119		94		(5)		569
Income (Loss) before Income Taxes	1,343		671		(64)		—		1,950
Income Tax Expense (Benefit)	93		203		(39)		—		257
Net Income (Loss) (C) (D)	$	1,250	$	468	$	(25)	$	—	$	1,693
Gross Additions to Long-Lived Assets	$	2,542	$	607	$	17	$	—	$	3,166
As of December 31, 2019
Total Assets	$	33,266	$	12,805	$	2,715	$	(1,056)	$	47,730
Investments in Equity Method Subsidiaries	$	—	$	66	$	1	$	—	$	67

(A)Includes amounts applicable to Energy Holdings and PSEG LI, which are below the quantitative threshold for separate disclosure as reportable segments. Other also includes amounts applicable to PSEG (parent corporation) and Services.

(B)Intercompany eliminations primarily relate to intercompany transactions between PSE&G and PSEG Power. For a further discussion of the intercompany transactions between PSE&G and PSEG Power, see Note 26. Related-Party Transactions.

(C)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.