Financial Information By Business Segments (Tables)

12 Months Ended

Dec. 31, 2023

Financial Information By Business Segments



	PSE&G		PSEG Power & Other		Eliminations (A)		Consolidated Total
	Millions
Year Ended December 31, 2023
Operating Revenues	$	7,807	$	4,533	$	(1,103)	$	11,237
Depreciation and Amortization	980		155		—		1,135
Operating Income (Loss)	1,974		1,711		—		3,685
Income from Equity Method Investments	—		1		—		1
Interest Income	19		38		(4)		53
Interest Expense	493		259		(4)		748
Income (Loss) before Income Taxes	1,675		1,406		—		3,081
Income Tax Expense (Benefit)	160		358		—		518
Net Income (Loss) (B) (C)	$	1,515	$	1,048	$	—	$	2,563
Gross Additions to Long-Lived Assets	$	2,998	$	327	$	—	$	3,325
As of December 31, 2023
Total Assets	$	42,873	$	8,407	$	(539)	$	50,741
Investments in Equity Method Subsidiaries	$	—	$	17	$	—	$	17



	PSE&G		PSEG Power & Other		Eliminations (A)		Consolidated Total
	Millions
Year Ended December 31, 2022
Operating Revenues	$	7,935	$	3,266	$	(1,401)	$	9,800
Depreciation and Amortization	935		165		—		1,100
Operating Income (Loss)	1,892		(511)		—		1,381
Income from Equity Method Investments	—		14		—		14
Interest Income	19		13		(1)		31
Interest Expense	427		202		(1)		628
Income (Loss) before Income Taxes	1,832		(830)		—		1,002
Income Tax Expense (Benefit)	267		(296)		—		(29)
Net Income (Loss) (B) (C)	$	1,565	$	(534)	$	—	$	1,031
Gross Additions to Long-Lived Assets	$	2,590	$	298	$	—	$	2,888
As of December 31, 2022
Total Assets	$	39,960	$	9,285	$	(527)	$	48,718
Investments in Equity Method Subsidiaries	$	—	$	306	$	—	$	306



	PSE&G		PSEG Power & Other		Eliminations (A)		Consolidated Total
	Millions
Year Ended December 31, 2021
Operating Revenues	$	7,122	$	3,767	$	(1,167)	$	9,722
Depreciation and Amortization	928		288		—		1,216
Operating Income (Loss)	1,818		(2,674)		—		(856)
Income from Equity Method Investments	—		16		—		16
Interest Income	14		6		—		20
Interest Expense	402		169		—		571
Income (Loss) before Income Taxes	1,770		(2,859)		—		(1,089)
Income Tax Expense (Benefit)	324		(765)		—		(441)
Net Income (Loss) (B) (C)	$	1,446	$	(2,094)	$	—	$	(648)
Gross Additions to Long-Lived Assets	$	2,447	$	272	$	—	$	2,719
As of December 31, 2021
Total Assets	$	37,198	$	12,258	$	(457)	$	48,999
Investments in Equity Method Subsidiaries	$	—	$	173	$	—	$	173

(A)Intercompany eliminations primarily relate to intercompany transactions between PSE&G and PSEG Power. For a further discussion of the intercompany transactions between PSE&G and PSEG Power, see Note 24. Related-Party Transactions.

(B)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.

(C)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.