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Condensed Consolidated Statements Of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating Revenues $ 2,272 $ 1,903 $ 6,661 $ 6,666
Operating Expenses [Abstract]        
Energy Costs 1,012 860 3,022 2,495
Operation and Maintenance 765 807 2,310 2,368
Depreciation and Amortization 270 283 822 946
(Gains) Losses on Asset Dispositions and Impairments 52 2,158 90 2,615
Total Operating Expenses 2,099 4,108 6,244 8,424
OPERATING INCOME (LOSS) 173 (2,205) 417 (1,758)
Income from Equity Method Investments 5 3 16 12
Net Gains (Losses) on Trust Investments (97) (17) (352) 124
Other Income (Deductions) 43 35 86 93
Non-Operating Pension and OPEB Credits (Costs) 94 82 282 246
Interest Expense (163) (144) (450) (437)
Income Before Income Taxes 55 (2,246) (1) (1,720)
Income Tax Benefit (Expense) 59 682 244 627
Net Income (Loss) [1] $ 114 $ (1,564) $ 243 $ (1,093)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
BASIC (shares) 497 504 498 504
DILUTED (shares) 500 504 501 504
EARNINGS PER SHARE:        
BASIC (dollars per share) $ 0.23 $ (3.10) $ 0.49 $ (2.17)
DILUTED (dollars per share) $ 0.22 $ (3.10) $ 0.48 $ (2.17)
Public Service Electric and Gas Company [Member]        
Operating Revenues $ 1,953 $ 1,820 $ 5,905 $ 5,407
Operating Expenses [Abstract]        
Energy Costs 791 698 2,389 2,056
Operation and Maintenance 452 422 1,349 1,239
Depreciation and Amortization 229 226 697 698
(Gains) Losses on Asset Dispositions and Impairments (1) (4) (1) (4)
Total Operating Expenses 1,471 1,342 4,434 3,989
OPERATING INCOME (LOSS) 482 478 1,471 1,418
Net Gains (Losses) on Trust Investments 0 0 (2) 1
Other Income (Deductions) 25 20 66 72
Non-Operating Pension and OPEB Credits (Costs) 70 67 211 199
Interest Expense (109) (102) (319) (301)
Income Before Income Taxes 468 463 1,427 1,389
Income Tax Benefit (Expense) (69) (74) (214) (214)
Net Income (Loss) $ 399 $ 389 $ 1,213 $ 1,175
[1] Includes after-tax impairment losses and other charges related to the sale of the Fossil generating assets at PSEG Power of $1,563 million and $1,936 million for the three and nine months ended September 30, 2021. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. Also includes net after-tax losses of $214 million and $478 million for the three months ended September 30, 2022 and 2021, respectively, and $896 million and $718 million for the nine months ended September 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. Other includes a $38 million after-tax impairment of assets related to one of Energy Holdings’ generating facilities for the three and nine months ended September 30, 2022.