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Condensed Consolidated Statements Of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating Revenues $ 2,076 $ 1,874 $ 4,389 $ 4,763
Operating Expenses [Abstract]        
Energy Costs 765 606 2,010 1,635
Operation and Maintenance 751 783 1,545 1,561
Depreciation and Amortization 269 322 552 663
(Gains) Losses on Asset Dispositions and Impairments (5) 457 38 457
Total Operating Expenses 1,780 2,168 4,145 4,316
OPERATING INCOME (LOSS) 296 (294) 244 447
Income from Equity Method Investments 7 6 11 9
Net Gains (Losses) on Trust Investments (187) 81 (255) 141
Other Income (Deductions) 38 33 43 58
Non-Operating Pension and OPEB Credits (Costs) 94 82 188 164
Interest Expense (150) (147) (287) (293)
Income Before Income Taxes 98 (239) (56) 526
Income Tax Benefit (Expense) 33 62 185 (55)
Net Income (Loss) [1] $ 131 $ (177) $ 129 $ 471
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
BASIC (shares) 497 504 499 504
DILUTED (shares) 500 504 502 507
EARNINGS PER SHARE:        
BASIC (dollars per share) $ 0.26 $ (0.35) $ 0.26 $ 0.94
DILUTED (dollars per share) $ 0.26 $ (0.35) $ 0.26 $ 0.93
Public Service Electric and Gas Company [Member]        
Operating Revenues $ 1,668 $ 1,514 $ 3,952 $ 3,587
Operating Expenses [Abstract]        
Energy Costs 630 509 1,598 1,358
Operation and Maintenance 434 393 897 817
Depreciation and Amortization 227 231 468 472
Total Operating Expenses 1,291 1,133 2,963 2,647
OPERATING INCOME (LOSS) 377 381 989 940
Net Gains (Losses) on Trust Investments (2) 0 (2) 1
Other Income (Deductions) 22 24 41 52
Non-Operating Pension and OPEB Credits (Costs) 71 66 141 132
Interest Expense (107) (101) (210) (199)
Income Before Income Taxes 361 370 959 926
Income Tax Benefit (Expense) (56) (61) (145) (140)
Net Income (Loss) $ 305 $ 309 $ 814 $ 786
[1] Includes a $373 million after-tax impairment of the ISO NE asset grouping at PSEG Power in the three and six months ended June 30, 2021. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. Also includes net after-tax losses of $74 million and $206 million for the three months ended June 30, 2022 and 2021, respectively, and $682 million and $240 million for the six months ended June 30, 2022 and 2021, respectively, related to the impacts of non-trading commodity mark-to-market activity, which consist of the financial impact from positions with future delivery dates.