XML 70 R16.htm IDEA: XBRL DOCUMENT
v3.20.1

Leases | 3 Months Ended
--- | ---
Mar. 31, 2020
Leases | Leases PSEG and its subsidiaries are both a lessor and a lessee in operating leases. As of March 31, 2020, PSEG and its subsidiaries were lessors for leases classified as operating leases or leveraged leases. See Note 8. Financing Receivables. There was no significant change in amounts reported in Note 8. Leases in the Annual Report on Form 10-K for the year ended December 31, 2019 for operating leases in which PSEG and its subsidiaries are lessees. PSEG and its subsidiaries, as lessors, have lease agreements with lease and non-lease components, which are primarily related to generating facilities. Rental income from these leases is included in Operating Revenues. PSEG Power Certain of PSEG Power’s sales agreements related to its solar generating plants qualify as operating leases with remaining terms through 2043 with no extension terms. Lease income is based on solar energy generation; therefore, all rental income is variable under these leases. Other Energy Holdings is the lessor in leveraged leases. Leveraged lease accounting guidance is grandfathered for existing leveraged leases. If modified after January 1, 2019, such leveraged leases will be accounted for as operating, direct financing, or sales-type leases. Energy Holdings is the lessor in an operating lease for a domestic energy generation facility with a remaining term through 2036. Energy Holdings was previously the lessor in operating leases for real estate assets which were sold in March 2020. The following is the operating lease income for PSEG Power and Energy Holdings for the three months ended March 31, 2020 and 2019:
|  | PSEG Power |  | Energy Holdings |  | Total |
|  | Millions |
| Operating Lease Income |  |  |  |  |  |  |
| Three Months Ended March 31, 2020 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 5 |  |  | $ | 5 |  |
| Variable Lease Income | 5 |  |  | — |  |  | 5 |  |
| Total Operating Lease Income | $ | 5 |  |  | $ | 5 |  |  | $ | 10 |  |
| Three Months Ended March 31, 2019 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 5 |  |  | $ | 5 |  |
| Variable Lease Income | 4 |  |  | — |  |  | 4 |  |
| Total Operating Lease Income | $ | 4 |  |  | $ | 5 |  |  | $ | 9 |  |
Leases | Leases PSEG and its subsidiaries are both a lessor and a lessee in operating leases. As of March 31, 2020, PSEG and its subsidiaries were lessors for leases classified as operating leases or leveraged leases. See Note 8. Financing Receivables. There was no significant change in amounts reported in Note 8. Leases in the Annual Report on Form 10-K for the year ended December 31, 2019 for operating leases in which PSEG and its subsidiaries are lessees. PSEG and its subsidiaries, as lessors, have lease agreements with lease and non-lease components, which are primarily related to generating facilities. Rental income from these leases is included in Operating Revenues. PSEG Power Certain of PSEG Power’s sales agreements related to its solar generating plants qualify as operating leases with remaining terms through 2043 with no extension terms. Lease income is based on solar energy generation; therefore, all rental income is variable under these leases. Other Energy Holdings is the lessor in leveraged leases. Leveraged lease accounting guidance is grandfathered for existing leveraged leases. If modified after January 1, 2019, such leveraged leases will be accounted for as operating, direct financing, or sales-type leases. Energy Holdings is the lessor in an operating lease for a domestic energy generation facility with a remaining term through 2036. Energy Holdings was previously the lessor in operating leases for real estate assets which were sold in March 2020. The following is the operating lease income for PSEG Power and Energy Holdings for the three months ended March 31, 2020 and 2019:
|  | PSEG Power |  | Energy Holdings |  | Total |
|  | Millions |
| Operating Lease Income |  |  |  |  |  |  |
| Three Months Ended March 31, 2020 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 5 |  |  | $ | 5 |  |
| Variable Lease Income | 5 |  |  | — |  |  | 5 |  |
| Total Operating Lease Income | $ | 5 |  |  | $ | 5 |  |  | $ | 10 |  |
| Three Months Ended March 31, 2019 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 5 |  |  | $ | 5 |  |
| Variable Lease Income | 4 |  |  | — |  |  | 4 |  |
| Total Operating Lease Income | $ | 4 |  |  | $ | 5 |  |  | $ | 9 |  |
Public Service Electric and Gas Company [Member] |
Leases | Leases PSEG and its subsidiaries are both a lessor and a lessee in operating leases. As of March 31, 2020, PSEG and its subsidiaries were lessors for leases classified as operating leases or leveraged leases. See Note 8. Financing Receivables. There was no significant change in amounts reported in Note 8. Leases in the Annual Report on Form 10-K for the year ended December 31, 2019 for operating leases in which PSEG and its subsidiaries are lessees. PSEG and its subsidiaries, as lessors, have lease agreements with lease and non-lease components, which are primarily related to generating facilities. Rental income from these leases is included in Operating Revenues. PSEG Power Certain of PSEG Power’s sales agreements related to its solar generating plants qualify as operating leases with remaining terms through 2043 with no extension terms. Lease income is based on solar energy generation; therefore, all rental income is variable under these leases. Other Energy Holdings is the lessor in leveraged leases. Leveraged lease accounting guidance is grandfathered for existing leveraged leases. If modified after January 1, 2019, such leveraged leases will be accounted for as operating, direct financing, or sales-type leases. Energy Holdings is the lessor in an operating lease for a domestic energy generation facility with a remaining term through 2036. Energy Holdings was previously the lessor in operating leases for real estate assets which were sold in March 2020. The following is the operating lease income for PSEG Power and Energy Holdings for the three months ended March 31, 2020 and 2019:
|  | PSEG Power |  | Energy Holdings |  | Total |
|  | Millions |
| Operating Lease Income |  |  |  |  |  |  |
| Three Months Ended March 31, 2020 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 5 |  |  | $ | 5 |  |
| Variable Lease Income | 5 |  |  | — |  |  | 5 |  |
| Total Operating Lease Income | $ | 5 |  |  | $ | 5 |  |  | $ | 10 |  |
| Three Months Ended March 31, 2019 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 5 |  |  | $ | 5 |  |
| Variable Lease Income | 4 |  |  | — |  |  | 4 |  |
| Total Operating Lease Income | $ | 4 |  |  | $ | 5 |  |  | $ | 9 |  |
Leases | Leases PSEG and its subsidiaries are both a lessor and a lessee in operating leases. As of March 31, 2020, PSEG and its subsidiaries were lessors for leases classified as operating leases or leveraged leases. See Note 8. Financing Receivables. There was no significant change in amounts reported in Note 8. Leases in the Annual Report on Form 10-K for the year ended December 31, 2019 for operating leases in which PSEG and its subsidiaries are lessees. PSEG and its subsidiaries, as lessors, have lease agreements with lease and non-lease components, which are primarily related to generating facilities. Rental income from these leases is included in Operating Revenues. PSEG Power Certain of PSEG Power’s sales agreements related to its solar generating plants qualify as operating leases with remaining terms through 2043 with no extension terms. Lease income is based on solar energy generation; therefore, all rental income is variable under these leases. Other Energy Holdings is the lessor in leveraged leases. Leveraged lease accounting guidance is grandfathered for existing leveraged leases. If modified after January 1, 2019, such leveraged leases will be accounted for as operating, direct financing, or sales-type leases. Energy Holdings is the lessor in an operating lease for a domestic energy generation facility with a remaining term through 2036. Energy Holdings was previously the lessor in operating leases for real estate assets which were sold in March 2020. The following is the operating lease income for PSEG Power and Energy Holdings for the three months ended March 31, 2020 and 2019:
|  | PSEG Power |  | Energy Holdings |  | Total |
|  | Millions |
| Operating Lease Income |  |  |  |  |  |  |
| Three Months Ended March 31, 2020 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 5 |  |  | $ | 5 |  |
| Variable Lease Income | 5 |  |  | — |  |  | 5 |  |
| Total Operating Lease Income | $ | 5 |  |  | $ | 5 |  |  | $ | 10 |  |
| Three Months Ended March 31, 2019 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 5 |  |  | $ | 5 |  |
| Variable Lease Income | 4 |  |  | — |  |  | 4 |  |
| Total Operating Lease Income | $ | 4 |  |  | $ | 5 |  |  | $ | 9 |  |
PSEG Power [Member] |
Leases | Leases PSEG and its subsidiaries are both a lessor and a lessee in operating leases. As of March 31, 2020, PSEG and its subsidiaries were lessors for leases classified as operating leases or leveraged leases. See Note 8. Financing Receivables. There was no significant change in amounts reported in Note 8. Leases in the Annual Report on Form 10-K for the year ended December 31, 2019 for operating leases in which PSEG and its subsidiaries are lessees. PSEG and its subsidiaries, as lessors, have lease agreements with lease and non-lease components, which are primarily related to generating facilities. Rental income from these leases is included in Operating Revenues. PSEG Power Certain of PSEG Power’s sales agreements related to its solar generating plants qualify as operating leases with remaining terms through 2043 with no extension terms. Lease income is based on solar energy generation; therefore, all rental income is variable under these leases. Other Energy Holdings is the lessor in leveraged leases. Leveraged lease accounting guidance is grandfathered for existing leveraged leases. If modified after January 1, 2019, such leveraged leases will be accounted for as operating, direct financing, or sales-type leases. Energy Holdings is the lessor in an operating lease for a domestic energy generation facility with a remaining term through 2036. Energy Holdings was previously the lessor in operating leases for real estate assets which were sold in March 2020. The following is the operating lease income for PSEG Power and Energy Holdings for the three months ended March 31, 2020 and 2019:
|  | PSEG Power |  | Energy Holdings |  | Total |
|  | Millions |
| Operating Lease Income |  |  |  |  |  |  |
| Three Months Ended March 31, 2020 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 5 |  |  | $ | 5 |  |
| Variable Lease Income | 5 |  |  | — |  |  | 5 |  |
| Total Operating Lease Income | $ | 5 |  |  | $ | 5 |  |  | $ | 10 |  |
| Three Months Ended March 31, 2019 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 5 |  |  | $ | 5 |  |
| Variable Lease Income | 4 |  |  | — |  |  | 4 |  |
| Total Operating Lease Income | $ | 4 |  |  | $ | 5 |  |  | $ | 9 |  |
Leases | Leases PSEG and its subsidiaries are both a lessor and a lessee in operating leases. As of March 31, 2020, PSEG and its subsidiaries were lessors for leases classified as operating leases or leveraged leases. See Note 8. Financing Receivables. There was no significant change in amounts reported in Note 8. Leases in the Annual Report on Form 10-K for the year ended December 31, 2019 for operating leases in which PSEG and its subsidiaries are lessees. PSEG and its subsidiaries, as lessors, have lease agreements with lease and non-lease components, which are primarily related to generating facilities. Rental income from these leases is included in Operating Revenues. PSEG Power Certain of PSEG Power’s sales agreements related to its solar generating plants qualify as operating leases with remaining terms through 2043 with no extension terms. Lease income is based on solar energy generation; therefore, all rental income is variable under these leases. Other Energy Holdings is the lessor in leveraged leases. Leveraged lease accounting guidance is grandfathered for existing leveraged leases. If modified after January 1, 2019, such leveraged leases will be accounted for as operating, direct financing, or sales-type leases. Energy Holdings is the lessor in an operating lease for a domestic energy generation facility with a remaining term through 2036. Energy Holdings was previously the lessor in operating leases for real estate assets which were sold in March 2020. The following is the operating lease income for PSEG Power and Energy Holdings for the three months ended March 31, 2020 and 2019:
|  | PSEG Power |  | Energy Holdings |  | Total |
|  | Millions |
| Operating Lease Income |  |  |  |  |  |  |
| Three Months Ended March 31, 2020 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 5 |  |  | $ | 5 |  |
| Variable Lease Income | 5 |  |  | — |  |  | 5 |  |
| Total Operating Lease Income | $ | 5 |  |  | $ | 5 |  |  | $ | 10 |  |
| Three Months Ended March 31, 2019 |  |  |  |  |  |
| Fixed Lease Income | $ | — |  |  | $ | 5 |  |  | $ | 5 |  |
| Variable Lease Income | 4 |  |  | — |  |  | 4 |  |
| Total Operating Lease Income | $ | 4 |  |  | $ | 5 |  |  | $ | 9 |  |

X
- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
Name: | us-gaap_LeasesOfLesseeDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for lessor entity's leasing arrangements for operating, capital and leveraged leases. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
Name: | us-gaap_LeasesOfLessorDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | dei_LegalEntityAxis=pseg_PublicServiceElectricandGasCompanyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | dei_LegalEntityAxis=pseg_PSEGPowerLLCMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |