Income Taxes (Tables)

6 Months Ended

Jun. 30, 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						Six Months Ended
PSEG	June 30,						June 30,
	2024			2023			2024			2023
	Millions
Pre-Tax Income	$	437		$	744		$	1,066		$	2,329
Tax Computed at Statutory Rate @ 21%	$	92		$	156		$	224		$	489
Increase (Decrease) Attributable to:
State Income Taxes (net of federal income tax)	34			50			74			158
NDT Fund	3			7			15			13
Uncertain Tax Positions	1			(1)			2			(7)
Leasing Activities	—			—			—			(17)
GPRC-CEF-EE	(13)			(8)			(28)			(24)
Tax Credits	(104)			(3)			(106)			(5)
Estimated Annual Effective Tax Rate Interim Period Adjustment	5			7			(12)			(16)
TAC	(24)			(51)			(67)			(126)
Other	9			(4)			(2)			(14)
Subtotal	(89)			(3)			(124)			(38)
Total Income Tax Expense	$	3		$	153		$	100		$	451
Effective Income Tax Rate	0.7		%	20.6		%	9.4		%	19.4		%

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						Six Months Ended
PSE&G	June 30,						June 30,
	2024			2023			2024			2023
	Millions
Pre-Tax Income	$	361		$	370		$	941		$	911
Tax Computed at Statutory Rate @ 21%	$	76		$	78		$	198		$	191
Increase (Decrease) Attributable to:
State Income Taxes (net of federal income tax)	25			30			66			68
Uncertain Tax Positions	—			(6)			—			(6)
Tax Credits	(2)			(3)			(4)			(5)
GPRC-CEF-EE	(13)			(8)			(28)			(24)
TAC	(24)			(51)			(67)			(126)
Bad Debt Flow-Through	(4)			(5)			(6)			(7)
Other	1			(1)			(8)			(3)
Subtotal	(17)			(44)			(47)			(103)
Total Income Tax Expense	$	59		$	34		$	151		$	88
Effective Income Tax Rate	16.3		%	9.2		%	16.0		%	9.7		%