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Leases Leases (Tables) | 6 Months Ended
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Jun. 30, 2019
Leases [Abstract] |
Lease, Cost | The following amounts relate to total Operating Lease costs, including both amounts recognized in the Condensed Consolidated Statements of Operations during the three and six months ended June 30, 2019 and any amounts capitalized as part of the cost of another asset, and the cash flows arising from lease transactions.
|  | PSE&G |  | PSEG Power |  | Other |  | Total |
|  | Millions |
| Operating Lease Costs |  |  |  |  |  |  |  |
| Three Months Ended June 30, 2019 |  |  |  |  |  |  |  |
| Long-term Lease Costs | $ | 5 |  |  | $ | 3 |  |  | $ | 4 |  |  | $ | 12 |  |
| Short-term Lease Costs | 4 |  |  | 3 |  |  | — |  |  | 7 |  |
| Variable Lease Costs | 1 |  |  | 2 |  |  | 2 |  |  | 5 |  |
| Total Operating Lease Costs | $ | 10 |  |  | $ | 8 |  |  | $ | 6 |  |  | $ | 24 |  |
| Six Months Ended June 30, 2019 |  |  |  |  |  |  |  |
| Long-term Lease Costs | $ | 9 |  |  | $ | 5 |  |  | $ | 8 |  |  | $ | 22 |  |
| Short-term Lease Costs | 9 |  |  | 5 |  |  | — |  |  | 14 |  |
| Variable Lease Costs | 1 |  |  | 2 |  |  | 5 |  |  | 8 |  |
| Total Operating Lease Costs | $ | 19 |  |  | $ | 12 |  |  | $ | 13 |  |  | $ | 44 |  |
| Three Months Ended June 30, 2019 |  |  |  |  |  |  |  |
| Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities | $ | 3 |  |  | $ | 2 |  |  | $ | 4 |  |  | $ | 9 |  |
| Six Months Ended June 30, 2019 |  |  |  |  |  |  |  |
| Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities | $ | 7 |  |  | $ | 4 |  |  | $ | 8 |  |  | $ | 19 |  |
| Weighted Average Remaining Lease Term in Years | 12 |  |  | 13 |  |  | 11 |  |  | 12 |  |
| Weighted Average Discount Rate | 3.7 | % |  | 4.4 | % |  | 4.2 | % |  | 4.1 | % |
Lessee, Operating Lease, Liability, Maturity | Operating Lease Liabilities as of June 30, 2019 had the following maturities:
|  |  | PSE&G |  | PSEG Power |  | Other |  | Total |
|  |  | Millions |
| 2019 |  | $ | 7 |  |  | $ | 7 |  |  | $ | 8 |  |  | $ | 22 |  |
| 2020 |  | 13 |  |  | 13 |  |  | 16 |  |  | 42 |  |
| 2021 |  | 10 |  |  | 13 |  |  | 16 |  |  | 39 |  |
| 2022 |  | 8 |  |  | 14 |  |  | 16 |  |  | 38 |  |
| 2023 |  | 8 |  |  | 8 |  |  | 15 |  |  | 31 |  |
| 2024 |  | 7 |  |  | 3 |  |  | 14 |  |  | 24 |  |
| Thereafter |  | 60 |  |  | 48 |  |  | 90 |  |  | 198 |  |
| Total Minimum Lease Payments |  | $ | 113 |  |  | $ | 106 |  |  | $ | 175 |  |  | $ | 394 |  |
The following is a reconciliation of the undiscounted cash flows to the discounted Operating Lease Liabilities recognized on the Condensed Consolidated Balance Sheets:
|  |  | As of June 30, 2019 |
|  |  | PSE&G |  | PSEG Power |  | Other |  | Total |
|  |  | Millions |
| Undiscounted Cash Flows |  | $ | 113 |  |  | $ | 106 |  |  | $ | 175 |  |  | $ | 394 |  |
| Reconciling Amount due to Discount Rate |  | (24 | ) |  | (30 | ) |  | (35 | ) |  | (89 | ) |
| Total Discounted Operating Lease Liabilities |  | $ | 89 |  |  | $ | 76 |  |  | $ | 140 |  |  | $ | 305 |  |
Schedule of Future Minimum Rental Payments for Operating Leases | Operating Lease commitments as of December 31, 2018 had the following maturities:
|  |  | PSE&G |  | PSEG Power |  | Other |  | Total |
|  |  | Millions |
| 2019 |  | $ | 15 |  |  | $ | 11 |  |  | $ | 15 |  |  | $ | 41 |  |
| 2020 |  | 11 |  |  | 13 |  |  | 16 |  |  | 40 |  |
| 2021 |  | 10 |  |  | 13 |  |  | 16 |  |  | 39 |  |
| 2022 |  | 8 |  |  | 14 |  |  | 16 |  |  | 38 |  |
| 2023 |  | 8 |  |  | 8 |  |  | 15 |  |  | 31 |  |
| Thereafter |  | 66 |  |  | 51 |  |  | 105 |  |  | 222 |  |
| Total Minimum Lease Payments |  | $ | 118 |  |  | $ | 110 |  |  | $ | 183 |  |  | $ | 411 |  |
Operating Lease, Lease Income | The following is the Operating Lease Income for PSEG Power and Energy Holdings for the three and six months ended June 30, 2019:
|  | PSEG Power |  | Energy Holdings |  | Total |
|  | Millions |
| Operating Lease Income |  |  |  |  |  |  |
| Three Months Ended June 30, 2019 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 6 |  |  | $ | 6 |  |
| Variable Lease Income | 8 |  |  | — |  |  | 8 |  |
| Total Operating Lease Income | $ | 8 |  |  | $ | 6 |  |  | $ | 14 |  |
| Six Months Ended June 30, 2019 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 11 |  |  | $ | 11 |  |
| Variable Lease Income | 12 |  |  | — |  |  | 12 |  |
| Total Operating Lease Income | $ | 12 |  |  | $ | 11 |  |  | $ | 23 |  |
Lessor, Operating Lease, Payments to be Received, Maturity | Operating Leases had the following minimum future fixed lease receipts as of June 30, 2019:
|  |  | Millions |
| 2019 |  | $ | 10 |  |  |
| 2020 |  | 20 |  |  |
| 2021 |  | 18 |  |  |
| 2022 |  | 17 |  |  |
| 2023 |  | 17 |  |  |
| 2024 |  | 16 |  |  |
| Thereafter |  | 165 |  |  |
| Total Minimum Future Lease Receipts |  | $ | 263 |  |  |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=119202524&loc=SL77919396-209981 + Details
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- Definition Tabular disclosure of components of income from operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=119202524&loc=SL77919372-209981 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 6A -URI http://asc.fasb.org/extlink&oid=118952077&loc=SL77927221-108306 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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