Income Taxes (Tables)

3 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Schedule Of Effective Tax Rates

A reconciliation of reported income tax expense for PSEG with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows:

	Three Months Ended
PSEG	March 31,
	2024			2023
	Millions
Pre-Tax Income	$	629		$	1,585
Tax Computed at Statutory Rate @ 21%	$	132		$	333
Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments:
State Income Taxes (net of federal income tax)	40			108
Uncertain Tax Positions	1			(6)
Leasing Activities	—			(17)
GPRC-Clean Energy Future (CEF)-EE	(15)			(16)
Estimated Annual Effective Tax Rate Interim Period Adjustment	(17)			(23)
TAC	(43)			(75)
Other	(1)			(6)
Subtotal	(35)			(35)
Total Income Tax Expense	$	97		$	298
Effective Income Tax Rate	15.4		%	18.8		%

A reconciliation of reported income tax expense for PSE&G with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows:

	Three Months Ended
PSE&G	March 31,
	2024			2023
	Millions
Pre-Tax Income	$	580		$	541
Tax Computed at Statutory Rate @ 21%	$	122		$	114
Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments:
State Income Taxes (net of federal income tax)	41			38
GPRC-CEF-EE	(15)			(16)
TAC	(43)			(75)
Other	(13)			(7)
Subtotal	(30)			(60)
Total Income Tax Expense	$	92		$	54
Effective Income Tax Rate	15.9		%	10.0		%