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Trust Investments
9 Months Ended
Sep. 30, 2022
Schedule of Trust Investments [Line Items]  
Trust Investments Trust Investments
Nuclear Decommissioning Trust (NDT) Fund
PSEG Power maintains an external master NDT to fund its share of decommissioning costs for its five nuclear facilities upon their respective termination of operation. The trust contains two separate funds: a qualified fund and a non-qualified fund. Section 468A of the Internal Revenue Code limits the amount of money that can be contributed into a qualified fund. The funds are managed by third-party investment managers who operate under investment guidelines developed by PSEG Power.
The following tables show the fair values and gross unrealized gains and losses for the securities held in the NDT Fund.
 As of September 30, 2022
CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
 Millions
Equity Securities
Domestic $495 $209 $(34)$670 
International330 41 (52)319 
Total Equity Securities825 250 (86)989 
Available-for-Sale Debt Securities
Government 703 — (101)602 
Corporate614 — (81)533 
Total Available-for-Sale Debt Securities1,317 — (182)1,135 
Total NDT Fund Investments (A)$2,142 $250 $(268)$2,124 
(A)The NDT Fund Investments table excludes cash and foreign currency of $1 million as of September 30, 2022, which is part of the NDT Fund.
As of December 31, 2021
CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Millions
Equity Securities
Domestic$491 $363 $(3)$851 
International346 119 (15)450 
Total Equity Securities837 482 (18)1,301 
Available-for-Sale Debt Securities
Government 683 12 (8)687 
Corporate637 16 (6)647 
Total Available-for-Sale Debt Securities1,320 28 (14)1,334 
Total NDT Fund Investments (A)$2,157 $510 $(32)$2,635 
(A)The NDT Fund Investments table excludes foreign currency of $2 million as of December 31, 2021, which is part of the NDT Fund.
Net unrealized losses on debt securities of $(107) million (after-tax) were included in Accumulated Other Comprehensive Loss on PSEG’s Condensed Consolidated Balance Sheet as of September 30, 2022. The portion of net unrealized losses recognized in the third quarter and first nine months of 2022 related to equity securities still held as of September 30, 2022 was $(73) million and $(268) million, respectively.
The amounts in the preceding tables do not include receivables and payables for NDT Fund transactions which have not settled
at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets as shown in the following table.
As ofAs of
September 30,
2022
December 31,
2021
Millions
Accounts Receivable$15 $11 
Accounts Payable$$11 
The following table shows the value of securities in the NDT Fund that have been in an unrealized loss position for less than and greater than 12 months.
As of September 30, 2022As of December 31, 2021
Less Than 12
Months
Greater Than 12
Months
Less Than 12
Months
Greater Than 12
Months
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Millions
Equity Securities (A)
Domestic$199 $(33)$$(1)$69 $(3)$— $— 
International133 (35)25 (17)76 (13)(2)
Total Equity Securities 332 (68)27 (18)145 (16)(2)
Available-for-Sale Debt Securities
Government (B)396 (59)193 (42)332 (5)67 (3)
Corporate (C)360 (49)162 (32)306 (4)30 (2)
Total Available-for-Sale Debt Securities756 (108)355 (74)638 (9)97 (5)
NDT Trust Investments$1,088 $(176)$382 $(92)$783 $(25)$106 $(7)
(A)Equity Securities—Investments in marketable equity securities within the NDT Fund are primarily in common stocks within a broad range of industries and sectors. Unrealized gains and losses on these securities are recorded in Net Income.
(B)Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG Power’s NDT investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG Power also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG Power did not recognize credit losses for municipal bonds because they are primarily investment grade securities.
(C)Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for these corporate bonds because they are primarily investment grade securities.
The proceeds from the sales of and the net gains (losses) on securities in the NDT Fund were:
Three Months EndedNine Months Ended
September 30,September 30,
2022202120222021
Millions
Proceeds from NDT Fund Sales (A)$404 $387 $1,218 $1,522 
Net Realized Gains (Losses) on NDT Fund
Gross Realized Gains$13 $32 $63 $194 
Gross Realized Losses(38)(17)(103)(55)
Net Realized Gains (Losses) on NDT Fund (B)(25)15 (40)139 
Net Unrealized Gains (Losses) on Equity Securities(70)(33)(301)(20)
Net Gains (Losses) on NDT Fund Investments $(95)$(18)$(341)$119 
(A)Includes activity in accounts related to the liquidation of funds being transitioned within the trust.
(B)The cost of these securities was determined on the basis of specific identification.
The NDT Fund debt securities held as of September 30, 2022 had the following maturities:
Time FrameFair Value
 Millions
Less than one year$
1 - 5 years316 
6 - 10 years209 
11 - 15 years66 
16 - 20 years91 
Over 20 years445 
Total NDT Available-for-Sale Debt Securities$1,135 
PSEG Power periodically assesses individual debt securities whose fair value is less than amortized cost to determine whether the investments are impaired. For these securities, management considers its intent to sell or requirement to sell a security prior to expected recovery. In those cases where a sale is expected, any impairment would be recorded through earnings. For fixed income securities where there is no intent to sell or likely requirement to sell, management evaluates whether credit loss is a component of the impairment. If so, that portion is recorded through earnings while the noncredit loss component is recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the noncredit loss component of the impairment would be recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the credit loss component would be recognized through earnings. The assessment of fair market value compared to cost is applied on a weighted average basis taking into account various purchase dates and initial cost of the securities.
Rabbi Trust
PSEG maintains certain unfunded nonqualified benefit plans to provide supplemental retirement and deferred compensation benefits to certain key employees. Certain assets related to these plans have been set aside in a grantor trust commonly known as a “Rabbi Trust.”
The following tables show the fair values, gross unrealized gains and losses and amortized cost basis for the securities held in the Rabbi Trust.
As of September 30, 2022
CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Millions
Domestic Equity Securities$15 $$— $20 
Available-for-Sale Debt Securities
Government111 — (21)90 
Corporate89 — (17)72 
Total Available-for-Sale Debt Securities200 — (38)162 
Total Rabbi Trust Investments$215 $5 $(38)$182 
As of December 31, 2021
CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Millions
Domestic Equity Securities$14 $12 $— $26 
Available-for-Sale Debt Securities
Government107 (1)107 
Corporate105 (1)109 
Total Available-for-Sale Debt Securities212 (2)216 
Total Rabbi Trust Investments$226 $18 $(2)$242 
Net unrealized losses on debt securities of $(28) million (after-tax) were included in Accumulated Other Comprehensive Loss on PSEG’s Condensed Consolidated Balance Sheet as of September 30, 2022. The portion of net unrealized losses recognized during the third quarter and first nine months of 2022 related to equity securities still held as of September 30, 2022 was $(1) million and $(7) million, respectively.
The amounts in the preceding tables do not include receivables and payables for Rabbi Trust Fund transactions which have not settled at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets as shown in the following table.
As ofAs of
September 30,
2022
December 31,
2021
 Millions
Accounts Receivable$$
Accounts Payable$— $— 
The following table shows the value of securities in the Rabbi Trust Fund that have been in an unrealized loss position for less than 12 months and greater than 12 months.
 As of September 30, 2022As of December 31, 2021
 Less Than 12
Months
Greater Than 12
Months
Less Than 12
Months
Greater Than 12
Months
 Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
 Millions
Available-for-Sale Debt Securities
Government (A)$58 $(14)$31 $(7)$57 $— $16 $(1)
Corporate (B)52 (13)20 (4)40 (1)— 
Total Available-for-Sale Debt Securities110 (27)51 (11)97 (1)21 (1)
Rabbi Trust Investments$110 $(27)$51 $(11)$97 $(1)$21 $(1)
(A)Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG’s Rabbi Trust investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG did not recognize credit losses for municipal bonds because they are primarily investment grade securities.
(B)Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG did not recognize credit losses for these corporate bonds because they are primarily investment grade.
The proceeds from the sales of and the net gains (losses) on securities in the Rabbi Trust Fund were:
Three Months EndedNine Months Ended
September 30,September 30,
2022202120222021
Millions
Proceeds from Rabbi Trust Sales$15 $41 $63 $135 
Net Realized Gains (Losses) on Rabbi Trust:
Gross Realized Gains$— $$$11 
Gross Realized Losses(1)(3)(7)(6)
Net Realized Gains (Losses) on Rabbi Trust (A)(1)1 (4)5 
Net Unrealized Gains (Losses) on Equity Securities (1)— (7)— 
Net Gains (Losses) on Rabbi Trust Investments $(2)$1 $(11)$5 
(A)The cost of these securities was determined on the basis of specific identification.
The Rabbi Trust debt securities held as of September 30, 2022 had the following maturities:
Time FrameFair Value
 Millions
Less than one year$— 
1 - 5 years29 
6 - 10 years24 
11 - 15 years
16 - 20 years16 
Over 20 years86 
Total Rabbi Trust Available-for-Sale Debt Securities$162 
PSEG periodically assesses individual debt securities whose fair value is less than amortized cost to determine whether the investments are considered to be impaired. For these securities, management considers its intent to sell or requirement to sell a security prior to expected recovery. In those cases where a sale is expected, any impairment would be recorded through earnings. For fixed income securities where there is no intent to sell or likely requirement to sell, management evaluates whether credit loss is a component of the impairment. If so, that portion is recorded through earnings while the noncredit loss component is recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the noncredit loss component of the impairment would be recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the credit loss component would be recognized through earnings. The assessment of fair market value compared to cost is applied on a weighted average basis taking into account various purchase dates and initial cost of the securities.
The fair value of the Rabbi Trust related to PSEG and PSE&G is detailed as follows:
As ofAs of
September 30,
2022
December 31,
2021
 Millions
PSE&G$32 $43 
Other150 199 
Total Rabbi Trust Investments$182 $242 
Public Service Electric and Gas Company [Member]  
Schedule of Trust Investments [Line Items]  
Trust Investments Trust Investments
Nuclear Decommissioning Trust (NDT) Fund
PSEG Power maintains an external master NDT to fund its share of decommissioning costs for its five nuclear facilities upon their respective termination of operation. The trust contains two separate funds: a qualified fund and a non-qualified fund. Section 468A of the Internal Revenue Code limits the amount of money that can be contributed into a qualified fund. The funds are managed by third-party investment managers who operate under investment guidelines developed by PSEG Power.
The following tables show the fair values and gross unrealized gains and losses for the securities held in the NDT Fund.
 As of September 30, 2022
CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
 Millions
Equity Securities
Domestic $495 $209 $(34)$670 
International330 41 (52)319 
Total Equity Securities825 250 (86)989 
Available-for-Sale Debt Securities
Government 703 — (101)602 
Corporate614 — (81)533 
Total Available-for-Sale Debt Securities1,317 — (182)1,135 
Total NDT Fund Investments (A)$2,142 $250 $(268)$2,124 
(A)The NDT Fund Investments table excludes cash and foreign currency of $1 million as of September 30, 2022, which is part of the NDT Fund.
As of December 31, 2021
CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Millions
Equity Securities
Domestic$491 $363 $(3)$851 
International346 119 (15)450 
Total Equity Securities837 482 (18)1,301 
Available-for-Sale Debt Securities
Government 683 12 (8)687 
Corporate637 16 (6)647 
Total Available-for-Sale Debt Securities1,320 28 (14)1,334 
Total NDT Fund Investments (A)$2,157 $510 $(32)$2,635 
(A)The NDT Fund Investments table excludes foreign currency of $2 million as of December 31, 2021, which is part of the NDT Fund.
Net unrealized losses on debt securities of $(107) million (after-tax) were included in Accumulated Other Comprehensive Loss on PSEG’s Condensed Consolidated Balance Sheet as of September 30, 2022. The portion of net unrealized losses recognized in the third quarter and first nine months of 2022 related to equity securities still held as of September 30, 2022 was $(73) million and $(268) million, respectively.
The amounts in the preceding tables do not include receivables and payables for NDT Fund transactions which have not settled
at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets as shown in the following table.
As ofAs of
September 30,
2022
December 31,
2021
Millions
Accounts Receivable$15 $11 
Accounts Payable$$11 
The following table shows the value of securities in the NDT Fund that have been in an unrealized loss position for less than and greater than 12 months.
As of September 30, 2022As of December 31, 2021
Less Than 12
Months
Greater Than 12
Months
Less Than 12
Months
Greater Than 12
Months
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Millions
Equity Securities (A)
Domestic$199 $(33)$$(1)$69 $(3)$— $— 
International133 (35)25 (17)76 (13)(2)
Total Equity Securities 332 (68)27 (18)145 (16)(2)
Available-for-Sale Debt Securities
Government (B)396 (59)193 (42)332 (5)67 (3)
Corporate (C)360 (49)162 (32)306 (4)30 (2)
Total Available-for-Sale Debt Securities756 (108)355 (74)638 (9)97 (5)
NDT Trust Investments$1,088 $(176)$382 $(92)$783 $(25)$106 $(7)
(A)Equity Securities—Investments in marketable equity securities within the NDT Fund are primarily in common stocks within a broad range of industries and sectors. Unrealized gains and losses on these securities are recorded in Net Income.
(B)Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG Power’s NDT investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG Power also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG Power did not recognize credit losses for municipal bonds because they are primarily investment grade securities.
(C)Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for these corporate bonds because they are primarily investment grade securities.
The proceeds from the sales of and the net gains (losses) on securities in the NDT Fund were:
Three Months EndedNine Months Ended
September 30,September 30,
2022202120222021
Millions
Proceeds from NDT Fund Sales (A)$404 $387 $1,218 $1,522 
Net Realized Gains (Losses) on NDT Fund
Gross Realized Gains$13 $32 $63 $194 
Gross Realized Losses(38)(17)(103)(55)
Net Realized Gains (Losses) on NDT Fund (B)(25)15 (40)139 
Net Unrealized Gains (Losses) on Equity Securities(70)(33)(301)(20)
Net Gains (Losses) on NDT Fund Investments $(95)$(18)$(341)$119 
(A)Includes activity in accounts related to the liquidation of funds being transitioned within the trust.
(B)The cost of these securities was determined on the basis of specific identification.
The NDT Fund debt securities held as of September 30, 2022 had the following maturities:
Time FrameFair Value
 Millions
Less than one year$
1 - 5 years316 
6 - 10 years209 
11 - 15 years66 
16 - 20 years91 
Over 20 years445 
Total NDT Available-for-Sale Debt Securities$1,135 
PSEG Power periodically assesses individual debt securities whose fair value is less than amortized cost to determine whether the investments are impaired. For these securities, management considers its intent to sell or requirement to sell a security prior to expected recovery. In those cases where a sale is expected, any impairment would be recorded through earnings. For fixed income securities where there is no intent to sell or likely requirement to sell, management evaluates whether credit loss is a component of the impairment. If so, that portion is recorded through earnings while the noncredit loss component is recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the noncredit loss component of the impairment would be recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the credit loss component would be recognized through earnings. The assessment of fair market value compared to cost is applied on a weighted average basis taking into account various purchase dates and initial cost of the securities.
Rabbi Trust
PSEG maintains certain unfunded nonqualified benefit plans to provide supplemental retirement and deferred compensation benefits to certain key employees. Certain assets related to these plans have been set aside in a grantor trust commonly known as a “Rabbi Trust.”
The following tables show the fair values, gross unrealized gains and losses and amortized cost basis for the securities held in the Rabbi Trust.
As of September 30, 2022
CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Millions
Domestic Equity Securities$15 $$— $20 
Available-for-Sale Debt Securities
Government111 — (21)90 
Corporate89 — (17)72 
Total Available-for-Sale Debt Securities200 — (38)162 
Total Rabbi Trust Investments$215 $5 $(38)$182 
As of December 31, 2021
CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Millions
Domestic Equity Securities$14 $12 $— $26 
Available-for-Sale Debt Securities
Government107 (1)107 
Corporate105 (1)109 
Total Available-for-Sale Debt Securities212 (2)216 
Total Rabbi Trust Investments$226 $18 $(2)$242 
Net unrealized losses on debt securities of $(28) million (after-tax) were included in Accumulated Other Comprehensive Loss on PSEG’s Condensed Consolidated Balance Sheet as of September 30, 2022. The portion of net unrealized losses recognized during the third quarter and first nine months of 2022 related to equity securities still held as of September 30, 2022 was $(1) million and $(7) million, respectively.
The amounts in the preceding tables do not include receivables and payables for Rabbi Trust Fund transactions which have not settled at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets as shown in the following table.
As ofAs of
September 30,
2022
December 31,
2021
 Millions
Accounts Receivable$$
Accounts Payable$— $— 
The following table shows the value of securities in the Rabbi Trust Fund that have been in an unrealized loss position for less than 12 months and greater than 12 months.
 As of September 30, 2022As of December 31, 2021
 Less Than 12
Months
Greater Than 12
Months
Less Than 12
Months
Greater Than 12
Months
 Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
 Millions
Available-for-Sale Debt Securities
Government (A)$58 $(14)$31 $(7)$57 $— $16 $(1)
Corporate (B)52 (13)20 (4)40 (1)— 
Total Available-for-Sale Debt Securities110 (27)51 (11)97 (1)21 (1)
Rabbi Trust Investments$110 $(27)$51 $(11)$97 $(1)$21 $(1)
(A)Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG’s Rabbi Trust investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG did not recognize credit losses for municipal bonds because they are primarily investment grade securities.
(B)Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG did not recognize credit losses for these corporate bonds because they are primarily investment grade.
The proceeds from the sales of and the net gains (losses) on securities in the Rabbi Trust Fund were:
Three Months EndedNine Months Ended
September 30,September 30,
2022202120222021
Millions
Proceeds from Rabbi Trust Sales$15 $41 $63 $135 
Net Realized Gains (Losses) on Rabbi Trust:
Gross Realized Gains$— $$$11 
Gross Realized Losses(1)(3)(7)(6)
Net Realized Gains (Losses) on Rabbi Trust (A)(1)1 (4)5 
Net Unrealized Gains (Losses) on Equity Securities (1)— (7)— 
Net Gains (Losses) on Rabbi Trust Investments $(2)$1 $(11)$5 
(A)The cost of these securities was determined on the basis of specific identification.
The Rabbi Trust debt securities held as of September 30, 2022 had the following maturities:
Time FrameFair Value
 Millions
Less than one year$— 
1 - 5 years29 
6 - 10 years24 
11 - 15 years
16 - 20 years16 
Over 20 years86 
Total Rabbi Trust Available-for-Sale Debt Securities$162 
PSEG periodically assesses individual debt securities whose fair value is less than amortized cost to determine whether the investments are considered to be impaired. For these securities, management considers its intent to sell or requirement to sell a security prior to expected recovery. In those cases where a sale is expected, any impairment would be recorded through earnings. For fixed income securities where there is no intent to sell or likely requirement to sell, management evaluates whether credit loss is a component of the impairment. If so, that portion is recorded through earnings while the noncredit loss component is recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the noncredit loss component of the impairment would be recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the credit loss component would be recognized through earnings. The assessment of fair market value compared to cost is applied on a weighted average basis taking into account various purchase dates and initial cost of the securities.
The fair value of the Rabbi Trust related to PSEG and PSE&G is detailed as follows:
As ofAs of
September 30,
2022
December 31,
2021
 Millions
PSE&G$32 $43 
Other150 199 
Total Rabbi Trust Investments$182 $242