Income Taxes (Tables)

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Schedule Of Effective Tax Rates

A reconciliation of reported income tax expense for PSEG with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows:

	Three Months Ended
PSEG	March 31,
	2022			2021
	Millions
Pre-Tax Income (Loss)	$	(154)		$	765
Tax Computed at Statutory Rate @ 21%	$	(32)		$	161
Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments:
State Income Taxes (net of federal income tax)	(29)			41
NDT Fund	(6)			8
Audit Settlement	—			(7)
Green Program Recovery Charges (GPRC)-CEF-Energy Efficiency (EE)	(6)			(1)
Tax Adjustment Credit (TAC)	(73)			(78)
Other	(6)			(7)
Subtotal	(120)			(44)
Total Income Tax Expense (Benefit)	$	(152)		$	117
Effective Income Tax Rate	98.7		%	15.3		%

A reconciliation of reported income tax expense for PSE&G with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows:

	Three Months Ended
PSE&G	March 31,
	2022			2021
	Millions
Pre-Tax Income	$	598		$	556
Tax Computed at Statutory Rate @ 21%	$	126		$	117
Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments:
State Income Taxes (net of federal income tax)	41			38
GPRC-CEF-EE	(6)			(1)
TAC	(73)			(78)
Other	1			3
Subtotal	(37)			(38)
Total Income Tax Expense (Benefit)	$	89		$	79
Effective Income Tax Rate	14.9		%	14.2		%