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Earnings Per Share (EPS) and Dividends | 12 Months Ended
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Dec. 31, 2015
Earnings Per Share [Abstract] |
Earnings Per Share (EPS) and Dividends | Earnings Per Share (EPS) and Dividends EPS Diluted EPS is calculated by dividing Net Income by the weighted average number of shares of common stock outstanding, including shares issuable upon exercise of stock options outstanding or vesting of restricted stock awards granted under PSEG's stock compensation plans and upon payment of performance units or restricted stock units. The following table shows the effect of these stock options, performance units and restricted stock units on the weighted average number of shares outstanding used in calculating diluted EPS:
|  |  | Years Ended December 31, |
|  |  | 2015 |  | 2014 |  | 2013 |
|  |  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted |
| EPS Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |
| (Millions) |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income |  | $ | 1,679 |  |  | $ | 1,679 |  |  | $ | 1,518 |  |  | $ | 1,518 |  |  | $ | 1,243 |  |  | $ | 1,243 |  |
| EPS Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |
| (Millions) |  |  |  |  |  |  |  |  |  |  |  |  |
| Weighted Average Common Shares Outstanding |  | 505 |  |  | 505 |  |  | 506 |  |  | 506 |  |  | 506 |  |  | 506 |  |
| Effect of Stock Based Compensation Awards |  | — |  |  | 3 |  |  | — |  |  | 2 |  |  | — |  |  | 2 |  |
| Total Shares |  | 505 |  |  | 508 |  |  | 506 |  |  | 508 |  |  | 506 |  |  | 508 |  |
| EPS: |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income |  | $ | 3.32 |  |  | $ | 3.30 |  |  | $ | 3.00 |  |  | $ | 2.99 |  |  | $ | 2.46 |  |  | $ | 2.45 |  |
There were approximately 0.5 million, 0.4 million and 1.6 million stock options excluded from the weighted average common shares used for diluted EPS due to their antidilutive effect for the years ended December 31, 2015, 2014 and 2013, respectively. No other stock options had an antidilutive effect for the years ended December 31, 2015, 2014 or 2013. Dividends
|  |  | Years Ended December 31, |
| Dividend Payments on Common Stock |  | 2015 |  | 2014 |  | 2013 |
| Per Share |  | $ | 1.56 |  |  | $ | 1.48 |  |  | $ | 1.44 |  |
| in Millions |  | $ | 789 |  |  | $ | 748 |  |  | $ | 728 |  |
On February 16, 2016, PSEG’s Board of Directors approved a $0.41 per share common stock dividend for the first quarter of 2016.

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