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v3.19.1

Guarantees of Debt | 3 Months Ended
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Mar. 31, 2019
Debt Instrument [Line Items] |
Guarantees of Debt | Guarantees of Debt Power’s Senior Notes are fully and unconditionally and jointly and severally guaranteed by its subsidiaries, PSEG Fossil LLC, PSEG Nuclear LLC and PSEG Energy Resources & Trade LLC. The following tables present condensed financial information for the guarantor subsidiaries, as well as Power’s non-guarantor subsidiaries, as of March 31, 2019 and December 31, 2018 and for the three months ended March 31, 2019 and 2018.
|  | Power |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Consolidating Adjustments |  | Total |
|  | Millions |
| Three Months Ended March 31, 2019 |  |  |  |  |  |  |  |  |  |
| Operating Revenues | $ | — |  |  | $ | 1,401 |  |  | $ | 56 |  |  | $ | (41 | ) |  | $ | 1,416 |  |
| Operating Expenses | 1 |  |  | 1,094 |  |  | 61 |  |  | (41 | ) |  | 1,115 |  |
| Operating Income (Loss) | (1 | ) |  | 307 |  |  | (5 | ) |  | — |  |  | 301 |  |
| Equity Earnings (Losses) of Subsidiaries | 309 |  |  | (8 | ) |  | 2 |  |  | (301 | ) |  | 2 |  |
| Net Gains (Losses) on Trust Investments | 1 |  |  | 125 |  |  | — |  |  | — |  |  | 126 |  |
| Other Income (Deductions) | 47 |  |  | 55 |  |  | — |  |  | (89 | ) |  | 13 |  |
| Non-Operating Pension and OPEB Credits (Costs) | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |  |
| Interest Expense | (75 | ) |  | (31 | ) |  | (8 | ) |  | 89 |  |  | (25 | ) |
| Income Tax Benefit (Expense) | 15 |  |  | (144 | ) |  | 5 |  |  | — |  |  | (124 | ) |
| Net Income (Loss) | $ | 296 |  |  | $ | 307 |  |  | $ | (6 | ) |  | $ | (301 | ) |  | $ | 296 |  |
| Comprehensive Income (Loss) | $ | 312 |  |  | $ | 322 |  |  | $ | (6 | ) |  | $ | (316 | ) |  | $ | 312 |  |
| Three Months Ended March 31, 2019 |  |  |  |  |  |  |  |  |  |
| Net Cash Provided By (Used In) Operating Activities | $ | (22 | ) |  | $ | 799 |  |  | $ | 43 |  |  | $ | (94 | ) |  | $ | 726 |  |
| Net Cash Provided By (Used In) Investing Activities | $ | (167 | ) |  | $ | (713 | ) |  | $ | (124 | ) |  | $ | 728 |  |  | $ | (276 | ) |
| Net Cash Provided By (Used In) Financing Activities | $ | 189 |  |  | $ | (86 | ) |  | $ | 87 |  |  | $ | (634 | ) |  | $ | (444 | ) |
|  | Power |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Consolidating Adjustments |  | Total |
|  | Millions |
| Three Months Ended March 31, 2018 |  |  |  |  |  |  |  |  |  |
| Operating Revenues | $ | — |  |  | $ | 1,386 |  |  | $ | 51 |  |  | $ | (34 | ) |  | $ | 1,403 |  |
| Operating Expenses | — |  |  | 1,056 |  |  | 52 |  |  | (34 | ) |  | 1,074 |  |
| Operating Income (Loss) | — |  |  | 330 |  |  | (1 | ) |  | — |  |  | 329 |  |
| Equity Earnings (Losses) of Subsidiaries | 234 |  |  | (3 | ) |  | 2 |  |  | (231 | ) |  | 2 |  |
| Net Gains (Losses) on Trust Investments | — |  |  | (22 | ) |  | — |  |  | — |  |  | (22 | ) |
| Other Income (Deductions) | 35 |  |  | 33 |  |  | — |  |  | (57 | ) |  | 11 |  |
| Non-Operating Pension and OPEB Credits (Costs) | — |  |  | 4 |  |  | — |  |  | — |  |  | 4 |  |
| Interest Expense | (42 | ) |  | (17 | ) |  | (5 | ) |  | 57 |  |  | (7 | ) |
| Income Tax Benefit (Expense) | 7 |  |  | (92 | ) |  | 2 |  |  | — |  |  | (83 | ) |
| Net Income (Loss) | $ | 234 |  |  | $ | 233 |  |  | $ | (2 | ) |  | $ | (231 | ) |  | $ | 234 |  |
| Comprehensive Income (Loss) | $ | 229 |  |  | $ | 223 |  |  | $ | (2 | ) |  | $ | (221 | ) |  | $ | 229 |  |
| Three Months Ended March 31, 2018 |  |  |  |  |  |  |  |  |  |
| Net Cash Provided By (Used In) Operating Activities | $ | (5 | ) |  | $ | 525 |  |  | $ | (49 | ) |  | $ | 71 |  |  | $ | 542 |  |
| Net Cash Provided By (Used In) Investing Activities | $ | (215 | ) |  | $ | (625 | ) |  | $ | (82 | ) |  | $ | 605 |  |  | $ | (317 | ) |
| Net Cash Provided By (Used In) Financing Activities | $ | 220 |  |  | $ | 100 |  |  | $ | 111 |  |  | $ | (677 | ) |  | $ | (246 | ) |
|  | Power |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Consolidating Adjustments |  | Total |
|  | Millions |
| As of March 31, 2019 |  |  |  |  |  |  |  |  |  |
| Current Assets | $ | 4,518 |  |  | $ | 1,693 |  |  | $ | 318 |  |  | $ | (5,217 | ) |  | $ | 1,312 |  |
| Property, Plant and Equipment, net | 48 |  |  | 4,915 |  |  | 3,913 |  |  | — |  |  | 8,876 |  |
| Investment in Subsidiaries | 5,309 |  |  | 1,099 |  |  | — |  |  | (6,408 | ) |  | — |  |
| Noncurrent Assets | 278 |  |  | 2,277 |  |  | 137 |  |  | (209 | ) |  | 2,483 |  |
| Total Assets | $ | 10,153 |  |  | $ | 9,984 |  |  | $ | 4,368 |  |  | $ | (11,834 | ) |  | $ | 12,671 |  |
| Current Liabilities | $ | 776 |  |  | $ | 2,966 |  |  | $ | 2,113 |  |  | $ | (5,217 | ) |  | $ | 638 |  |
| Noncurrent Liabilities | 519 |  |  | 2,072 |  |  | 793 |  |  | (209 | ) |  | 3,175 |  |
| Long-Term Debt | 2,836 |  |  | — |  |  | — |  |  | — |  |  | 2,836 |  |
| Member’s Equity | 6,022 |  |  | 4,946 |  |  | 1,462 |  |  | (6,408 | ) |  | 6,022 |  |
| Total Liabilities and Member’s Equity | $ | 10,153 |  |  | $ | 9,984 |  |  | $ | 4,368 |  |  | $ | (11,834 | ) |  | $ | 12,671 |  |
| As of December 31, 2018 |  |  |  |  |  |  |  |  |  |
| Current Assets | $ | 4,317 |  |  | $ | 1,479 |  |  | $ | 304 |  |  | $ | (4,593 | ) |  | $ | 1,507 |  |
| Property, Plant and Equipment, net | 49 |  |  | 4,971 |  |  | 3,822 |  |  | — |  |  | 8,842 |  |
| Investment in Subsidiaries | 5,062 |  |  | 1,107 |  |  | — |  |  | (6,169 | ) |  | — |  |
| Noncurrent Assets | 273 |  |  | 2,109 |  |  | 101 |  |  | (238 | ) |  | 2,245 |  |
| Total Assets | $ | 9,701 |  |  | $ | 9,666 |  |  | $ | 4,227 |  |  | $ | (11,000 | ) |  | $ | 12,594 |  |
| Current Liabilities | $ | 437 |  |  | $ | 2,971 |  |  | $ | 2,027 |  |  | $ | (4,593 | ) |  | $ | 842 |  |
| Noncurrent Liabilities | 513 |  |  | 1,996 |  |  | 730 |  |  | (238 | ) |  | 3,001 |  |
| Long-Term Debt | 2,791 |  |  | — |  |  | — |  |  | — |  |  | 2,791 |  |
| Member’s Equity | 5,960 |  |  | 4,699 |  |  | 1,470 |  |  | (6,169 | ) |  | 5,960 |  |
| Total Liabilities and Member’s Equity | $ | 9,701 |  |  | $ | 9,666 |  |  | $ | 4,227 |  |  | $ | (11,000 | ) |  | $ | 12,594 |  |
Power [Member] |
Debt Instrument [Line Items] |
Guarantees of Debt | Guarantees of Debt Power’s Senior Notes are fully and unconditionally and jointly and severally guaranteed by its subsidiaries, PSEG Fossil LLC, PSEG Nuclear LLC and PSEG Energy Resources & Trade LLC. The following tables present condensed financial information for the guarantor subsidiaries, as well as Power’s non-guarantor subsidiaries, as of March 31, 2019 and December 31, 2018 and for the three months ended March 31, 2019 and 2018.
|  | Power |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Consolidating Adjustments |  | Total |
|  | Millions |
| Three Months Ended March 31, 2019 |  |  |  |  |  |  |  |  |  |
| Operating Revenues | $ | — |  |  | $ | 1,401 |  |  | $ | 56 |  |  | $ | (41 | ) |  | $ | 1,416 |  |
| Operating Expenses | 1 |  |  | 1,094 |  |  | 61 |  |  | (41 | ) |  | 1,115 |  |
| Operating Income (Loss) | (1 | ) |  | 307 |  |  | (5 | ) |  | — |  |  | 301 |  |
| Equity Earnings (Losses) of Subsidiaries | 309 |  |  | (8 | ) |  | 2 |  |  | (301 | ) |  | 2 |  |
| Net Gains (Losses) on Trust Investments | 1 |  |  | 125 |  |  | — |  |  | — |  |  | 126 |  |
| Other Income (Deductions) | 47 |  |  | 55 |  |  | — |  |  | (89 | ) |  | 13 |  |
| Non-Operating Pension and OPEB Credits (Costs) | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |  |
| Interest Expense | (75 | ) |  | (31 | ) |  | (8 | ) |  | 89 |  |  | (25 | ) |
| Income Tax Benefit (Expense) | 15 |  |  | (144 | ) |  | 5 |  |  | — |  |  | (124 | ) |
| Net Income (Loss) | $ | 296 |  |  | $ | 307 |  |  | $ | (6 | ) |  | $ | (301 | ) |  | $ | 296 |  |
| Comprehensive Income (Loss) | $ | 312 |  |  | $ | 322 |  |  | $ | (6 | ) |  | $ | (316 | ) |  | $ | 312 |  |
| Three Months Ended March 31, 2019 |  |  |  |  |  |  |  |  |  |
| Net Cash Provided By (Used In) Operating Activities | $ | (22 | ) |  | $ | 799 |  |  | $ | 43 |  |  | $ | (94 | ) |  | $ | 726 |  |
| Net Cash Provided By (Used In) Investing Activities | $ | (167 | ) |  | $ | (713 | ) |  | $ | (124 | ) |  | $ | 728 |  |  | $ | (276 | ) |
| Net Cash Provided By (Used In) Financing Activities | $ | 189 |  |  | $ | (86 | ) |  | $ | 87 |  |  | $ | (634 | ) |  | $ | (444 | ) |
|  | Power |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Consolidating Adjustments |  | Total |
|  | Millions |
| Three Months Ended March 31, 2018 |  |  |  |  |  |  |  |  |  |
| Operating Revenues | $ | — |  |  | $ | 1,386 |  |  | $ | 51 |  |  | $ | (34 | ) |  | $ | 1,403 |  |
| Operating Expenses | — |  |  | 1,056 |  |  | 52 |  |  | (34 | ) |  | 1,074 |  |
| Operating Income (Loss) | — |  |  | 330 |  |  | (1 | ) |  | — |  |  | 329 |  |
| Equity Earnings (Losses) of Subsidiaries | 234 |  |  | (3 | ) |  | 2 |  |  | (231 | ) |  | 2 |  |
| Net Gains (Losses) on Trust Investments | — |  |  | (22 | ) |  | — |  |  | — |  |  | (22 | ) |
| Other Income (Deductions) | 35 |  |  | 33 |  |  | — |  |  | (57 | ) |  | 11 |  |
| Non-Operating Pension and OPEB Credits (Costs) | — |  |  | 4 |  |  | — |  |  | — |  |  | 4 |  |
| Interest Expense | (42 | ) |  | (17 | ) |  | (5 | ) |  | 57 |  |  | (7 | ) |
| Income Tax Benefit (Expense) | 7 |  |  | (92 | ) |  | 2 |  |  | — |  |  | (83 | ) |
| Net Income (Loss) | $ | 234 |  |  | $ | 233 |  |  | $ | (2 | ) |  | $ | (231 | ) |  | $ | 234 |  |
| Comprehensive Income (Loss) | $ | 229 |  |  | $ | 223 |  |  | $ | (2 | ) |  | $ | (221 | ) |  | $ | 229 |  |
| Three Months Ended March 31, 2018 |  |  |  |  |  |  |  |  |  |
| Net Cash Provided By (Used In) Operating Activities | $ | (5 | ) |  | $ | 525 |  |  | $ | (49 | ) |  | $ | 71 |  |  | $ | 542 |  |
| Net Cash Provided By (Used In) Investing Activities | $ | (215 | ) |  | $ | (625 | ) |  | $ | (82 | ) |  | $ | 605 |  |  | $ | (317 | ) |
| Net Cash Provided By (Used In) Financing Activities | $ | 220 |  |  | $ | 100 |  |  | $ | 111 |  |  | $ | (677 | ) |  | $ | (246 | ) |
|  | Power |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Consolidating Adjustments |  | Total |
|  | Millions |
| As of March 31, 2019 |  |  |  |  |  |  |  |  |  |
| Current Assets | $ | 4,518 |  |  | $ | 1,693 |  |  | $ | 318 |  |  | $ | (5,217 | ) |  | $ | 1,312 |  |
| Property, Plant and Equipment, net | 48 |  |  | 4,915 |  |  | 3,913 |  |  | — |  |  | 8,876 |  |
| Investment in Subsidiaries | 5,309 |  |  | 1,099 |  |  | — |  |  | (6,408 | ) |  | — |  |
| Noncurrent Assets | 278 |  |  | 2,277 |  |  | 137 |  |  | (209 | ) |  | 2,483 |  |
| Total Assets | $ | 10,153 |  |  | $ | 9,984 |  |  | $ | 4,368 |  |  | $ | (11,834 | ) |  | $ | 12,671 |  |
| Current Liabilities | $ | 776 |  |  | $ | 2,966 |  |  | $ | 2,113 |  |  | $ | (5,217 | ) |  | $ | 638 |  |
| Noncurrent Liabilities | 519 |  |  | 2,072 |  |  | 793 |  |  | (209 | ) |  | 3,175 |  |
| Long-Term Debt | 2,836 |  |  | — |  |  | — |  |  | — |  |  | 2,836 |  |
| Member’s Equity | 6,022 |  |  | 4,946 |  |  | 1,462 |  |  | (6,408 | ) |  | 6,022 |  |
| Total Liabilities and Member’s Equity | $ | 10,153 |  |  | $ | 9,984 |  |  | $ | 4,368 |  |  | $ | (11,834 | ) |  | $ | 12,671 |  |
| As of December 31, 2018 |  |  |  |  |  |  |  |  |  |
| Current Assets | $ | 4,317 |  |  | $ | 1,479 |  |  | $ | 304 |  |  | $ | (4,593 | ) |  | $ | 1,507 |  |
| Property, Plant and Equipment, net | 49 |  |  | 4,971 |  |  | 3,822 |  |  | — |  |  | 8,842 |  |
| Investment in Subsidiaries | 5,062 |  |  | 1,107 |  |  | — |  |  | (6,169 | ) |  | — |  |
| Noncurrent Assets | 273 |  |  | 2,109 |  |  | 101 |  |  | (238 | ) |  | 2,245 |  |
| Total Assets | $ | 9,701 |  |  | $ | 9,666 |  |  | $ | 4,227 |  |  | $ | (11,000 | ) |  | $ | 12,594 |  |
| Current Liabilities | $ | 437 |  |  | $ | 2,971 |  |  | $ | 2,027 |  |  | $ | (4,593 | ) |  | $ | 842 |  |
| Noncurrent Liabilities | 513 |  |  | 1,996 |  |  | 730 |  |  | (238 | ) |  | 3,001 |  |
| Long-Term Debt | 2,791 |  |  | — |  |  | — |  |  | — |  |  | 2,791 |  |
| Member’s Equity | 5,960 |  |  | 4,699 |  |  | 1,470 |  |  | (6,169 | ) |  | 5,960 |  |
| Total Liabilities and Member’s Equity | $ | 9,701 |  |  | $ | 9,666 |  |  | $ | 4,227 |  |  | $ | (11,000 | ) |  | $ | 12,594 |  |

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