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Consolidated Statements Of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Revenues $ 11,237 $ 9,800 $ 9,722
Operating Expenses [Abstract]      
Energy Costs 3,260 4,018 3,499
Operation and Maintenance 3,150 3,178 3,226
Depreciation and Amortization 1,135 1,100 1,216
(Gains) Losses on Asset Dispositions and Impairments 7 123 2,637
Total Operating Expenses 7,552 8,419 10,578
OPERATING INCOME 3,685 1,381 (856)
Income from Equity Method Investments 1 14 16
Net Gains (Losses) on NDT Fund Investments 189 (265) 194
Other Income (Deductions) 172 124 98
Non-Operating Pension and Other Postretirement Plan Credits (Costs) (218) 376 328
Loss on Extinguishment of Debt 0 0 (298)
Interest Expense (748) (628) (571)
Income (Loss) before Income Taxes 3,081 1,002 (1,089)
Income Tax (Expense) Benefit (518) 29 441
Net Income (Loss) [1],[2] $ 2,563 $ 1,031 $ (648)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:      
BASIC 498 498 504
DILUTED 500 501 504
EARNINGS PER SHARE:      
NET INCOME, BASIC $ 5.15 $ 2.07 $ (1.29)
NET INCOME, DILUTED $ 5.13 $ 2.06 $ (1.29)
Public Service Electric and Gas Company      
Operating Revenues $ 7,807 $ 7,935 $ 7,122
Operating Expenses [Abstract]      
Energy Costs 3,010 3,270 2,688
Operation and Maintenance 1,843 1,838 1,692
Depreciation and Amortization 980 935 928
(Gains) Losses on Asset Dispositions and Impairments 0 0 (4)
Total Operating Expenses 5,833 6,043 5,304
OPERATING INCOME 1,974 1,892 1,818
Net Gains (Losses) on NDT Fund Investments 0 (2) 2
Other Income (Deductions) 80 88 88
Non-Operating Pension and Other Postretirement Plan Credits (Costs) 114 281 264
Interest Expense (493) (427) (402)
Income (Loss) before Income Taxes 1,675 1,832 1,770
Income Tax (Expense) Benefit (160) (267) (324)
Net Income (Loss) $ 1,515 $ 1,565 $ 1,446
[1] Includes a $239 million after-tax pension charge due to the remeasurement of the qualified pension plans as a result of the pension settlement transaction in the third quarter of 2023. Includes after-tax impairments of $92 million related to certain Energy Holdings investments and additional adjustments related to the sale of PSEG Power’s fossil generation assets in the year ended December 31, 2022. Includes after-tax impairment losses and other charges, including debt extinguishment costs, related to the sale of the fossil generating assets at PSEG Power of $2,158 million in the year ended December 31, 2021. See Note 3. Asset Dispositions and Impairments for additional information.
[2] Includes net after-tax gain (loss) of $959 million, $(457) million and $(446) million in the years ended December 31, 2023, 2022 and 2021, respectively at PSEG Power related to the impacts of non-trading commodity mark-to-market activity, which consists of the financial impact from positions with future delivery dates.