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Earnings Per Share (EPS) and Dividends | 6 Months Ended
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Jun. 30, 2020
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 share units or restricted stock units. The following table shows the effect of these stock options, performance share units and restricted stock units on the weighted average number of shares outstanding used in calculating diluted EPS:
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
|  | 2020 |  | 2019 |  | 2020 |  | 2019 |
|  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted |
| EPS Numerator (Millions): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income | $ | 451 |  |  | $ | 451 |  |  | $ | 153 |  |  | $ | 153 |  |  | $ | 899 |  |  | $ | 899 |  |  | $ | 853 |  |  | $ | 853 |  |
| EPS Denominator (Millions): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Weighted Average Common Shares Outstanding | 504 |  |  | 504 |  |  | 504 |  |  | 504 |  |  | 504 |  |  | 504 |  |  | 504 |  |  | 504 |  |
| Effect of Stock Based Compensation Awards | — |  |  | 3 |  |  | — |  |  | 3 |  |  | — |  |  | 3 |  |  | — |  |  | 3 |  |
| Total Shares | 504 |  |  | 507 |  |  | 504 |  |  | 507 |  |  | 504 |  |  | 507 |  |  | 504 |  |  | 507 |  |
| EPS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income | $ | 0.89 |  |  | $ | 0.89 |  |  | $ | 0.30 |  |  | $ | 0.30 |  |  | $ | 1.78 |  |  | $ | 1.77 |  |  | $ | 1.69 |  |  | $ | 1.68 |  |
Dividends
|  | Three Months Ended |  | Six Months Ended |
|  | June 30, |  | June 30, |
| Dividend Payments on Common Stock | 2020 |  | 2019 |  | 2020 |  | 2019 |
| Per Share | $ | 0.49 |  |  | $ | 0.47 |  |  | $ | 0.98 |  |  | $ | 0.94 |  |
| In Millions | $ | 247 |  |  | $ | 237 |  |  | $ | 495 |  |  | $ | 475 |  |
On July 21, 2020, the PSEG Board approved a $0.49 per share common stock dividend for the third quarter of 2020.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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