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Trust Investments (Tables)

12 Months Ended

Dec. 31, 2022

Nuclear Decommissioning Trust (NDT) Fund [Member]

Schedule of Trust Investments [Line Items]

The following tables show the fair values and gross unrealized gains and losses for the securities held in the NDT Fund.



	As of December 31, 2022
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	Millions
Equity Securities
Domestic	$	476	$	232	$	(12)	$	696
International	336		68		(28)		376
Total Equity Securities	812		300		(40)		1,072
Available-for-Sale Debt Securities
Government	721		—		(94)		627
Corporate	597		1		(69)		529
Total Available-for-Sale Debt Securities	1,318		1		(163)		1,156
Total NDT Fund Investments (A)	$	2,130	$	301	$	(203)	$	2,228

(A) The NDT Fund Investments table excludes cash and foreign currency of $2 million as of December 31, 2022,

which is part of the NDT Fund.



	As of December 31, 2021
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	Millions
Equity Securities
Domestic	$	491	$	363	$	(3)	$	851
International	346		119		(15)		450
Total Equity Securities	837		482		(18)		1,301
Available-for-Sale Debt Securities
Government	683		12		(8)		687
Corporate	637		16		(6)		647
Total Available-for-Sale Debt Securities	1,320		28		(14)		1,334
Total NDT Fund Investments (A)	$	2,157	$	510	$	(32)	$	2,635

(A) The NDT Fund Investments table excludes cash and foreign currency of $2 million as of December 31, 2021, which is part of the NDT Fund.

Schedule Of Accounts Receivable And Accounts Payable

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 Consolidated Balance Sheets as shown in the following table.



	As of December 31,
	2022		2021
	Millions
Accounts Receivable	$	14	$	11
Accounts Payable	$	6	$	11

Fair Value of Securities, Unrealized Loss Position

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 December 31, 2022								As 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	$	90	$	(10)	$	9	$	(2)	$	69	$	(3)	$	—	$	—
International	88		(12)		38		(16)		76		(13)		9		(2)
Total Equity Securities	178		(22)		47		(18)		145		(16)		9		(2)
Available-for-Sale Debt Securities
Government (B)	301		(27)		292		(67)		332		(5)		67		(3)
Corporate (C)	221		(21)		249		(48)		306		(4)		30		(2)
Total Available-for-Sale Debt Securities	522		(48)		541		(115)		638		(9)		97		(5)
NDT Trust Investments	$	700	$	(70)	$	588	$	(133)	$	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 corporate bonds because they are primarily investment grade securities.

Schedule of Realized Gain (Loss)

The proceeds from the sales of and the net gains (losses) on securities in the NDT Fund were:



	Years Ended December 31,
	2022		2021		2020
	Millions
Proceeds from Sales (A)	$	1,521	$	1,930	$	2,031
Net Realized Gains (Losses):
Gross Realized Gains	$	86	$	236	$	214
Gross Realized Losses	(136)		(70)		(94)
Net Realized Gains (Losses) on NDT Fund (B)	(50)		166		120
Net Unrealized Gains (Losses) on Equity Securities	(205)		19		120
Impairment of Available-for-Sale Debt Securities (C)	—		—		(3)
Net Gains (Losses) on NDT Fund Investments	$	(255)	$	185	$	237

(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.

(C)PSEG Power recognized an impairment of available-for-sale debt securities in 2020. PSEG Power’s policy is to sell all securities that are rated below investment grade.

Amount Of Available-For-Sale Debt Securities By Maturity Periods

The NDT Fund debt securities held as of December 31, 2022 had the following maturities:



Time Frame	Fair Value
	Millions
Less than one year	$	12
1 - 5 years	319
6 - 10 years	221
11 - 15 years	62
16 - 20 years	96
Over 20 years	446
Total NDT Available-for-Sale Debt Securities	$	1,156

Rabbi Trust [Member]

Schedule of Trust Investments [Line Items]

Schedule of Securities Reconciliation



	As of December 31, 2022
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	Millions
Domestic Equity Securities	$	14	$	6	$	—	$	20
Available-for-Sale Debt Securities
Government	110		—		(21)		89
Corporate	89		—		(15)		74
Total Available-for-Sale Debt Securities	199		—		(36)		163
Total Rabbi Trust Investments	$	213	$	6	$	(36)	$	183



	As of December 31, 2021
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	Millions
Domestic Equity Securities	$	14	$	12	$	—	$	26
Available-for-Sale Debt Securities
Government	107		1		(1)		107
Corporate	105		5		(1)		109
Total Available-for-Sale Debt Securities	212		6		(2)		216
Total Rabbi Trust Investments	$	226	$	18	$	(2)	$	242

Schedule Of Accounts Receivable And Accounts Payable

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 Consolidated Balance Sheets as shown in the following table.



	As of December 31,
	2022		2021
	Millions
Accounts Receivable	$	1	$	1
Accounts Payable	$	—	$	—

Fair Value of Securities, Unrealized Loss Position

The following table shows the value of securities in the Rabbi Trust Fund that have been in an unrealized loss position for less than and greater than 12 months:



	As of December 31, 2022								As 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)	$	32	$	(5)	$	57	$	(16)	$	57	$	—	$	16	$	(1)
Corporate (B)	35		(5)		39		(10)		40		(1)		5		—
Total Available-for-Sale Debt Securities	67		(10)		96		(26)		97		(1)		21		(1)
Rabbi Trust Investments	$	67	$	(10)	$	96	$	(26)	$	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 corporate bonds because they are primarily investment grade.

Schedule of Realized Gain (Loss)

The proceeds from the sales of and the net gains (losses) on securities in the Rabbi Trust Fund were:



	Years Ended December 31,
	2022		2021		2020
	Millions
Proceeds from Rabbi Trust Sales	$	65	$	170	$	203
Net Realized Gains (Losses):
Gross Realized Gains	$	5	$	16	$	19
Gross Realized Losses	(9)		(8)		(6)
Net Realized Gains (Losses) on Rabbi Trust (A)	(4)		8		13
Net Unrealized Gains (Losses) on Equity Securities	(6)		1		3
Net Gains (Losses) on Rabbi Trust Investments	$	(10)	$	9	$	16

(A)The cost of these securities was determined on the basis of specific identification.

Amount Of Available-For-Sale Debt Securities By Maturity Periods

The Rabbi Trust debt securities held as of December 31, 2022 had the following maturities:



Time Frame	Fair Value
	Millions
Less than one year	$	—
1 - 5 years	29
6 - 10 years	23
11 - 15 years	7
16 - 20 years	16
Over 20 years	88
Total Rabbi Trust Available-for-Sale Debt Securities	$	163

Rabbi Trust Fair Value by Company

The fair value of the Rabbi Trust related to PSEG and PSE&G are detailed as follows:



	As of December 31,		As of December 31,
	2022		2021
	Millions
PSE&G	$	32	$	43
PSEG Power & Other	151		199
Total Rabbi Trust Investments	$	183	$	242