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Financial Information By Business Segments | 12 Months Ended
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Dec. 31, 2020
Segment Reporting Information [Line Items] |
Financial Information By Business Segments | Financial Information by Business Segment Basis of Organization PSEG’s, PSE&G’s and PSEG Power’s operating segments were determined by management in accordance with GAAP. These segments were determined based on how management measures performance based on segment Net Income, as illustrated in the following table, and how resources are allocated to each business. PSEG’s reportable segments are PSE&G and PSEG Power. PSE&G and PSEG Power each represent a single reportable segment and therefore no separate segment information is provided for these Registrants. PSE&G PSE&G earns revenues from its tariffs, under which it provides electric transmission and electric and gas distribution services to residential, commercial and industrial customers in New Jersey. The rates charged for electric transmission are regulated by FERC while the rates charged for electric and gas distribution are regulated by the BPU. Revenues are also earned from several other activities such as solar investments, sundry sales, the appliance service business, wholesale transmission services and other miscellaneous services. PSEG Power PSEG Power earns revenues by selling energy, capacity and ancillary services on a wholesale basis under contract to power marketers and to load-serving entities and by bidding energy, capacity and ancillary services into the markets for these products. A significant portion of PSEG Power’s revenue is obtained from the various ISOs in which PSEG Power operates. The ISOs act similarly to a clearing house for all of its members in that all revenues paid out are collected from market participants based on their consumption of energy and energy-related products. PSEG Power also enters into bilateral contracts for energy, capacity, FTRs, gas, emission allowances and other energy-related contracts to optimize the value of its portfolio of generating assets and its electric and gas supply obligations. In addition, PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants receive ZEC revenue from the EDCs in New Jersey including PSE&G. Other This category includes amounts applicable to Energy Holdings and PSEG LI, which are below the quantitative threshold for separate disclosure as reportable segments. Other also includes amounts applicable to PSEG (parent corporation) and Services.
|  |  | PSE&G |  | PSEG Power |  | Other (A) |  | Eliminations (B) |  | Consolidated Total |
|  |  | Millions |
| Year Ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
| Operating Revenues |  | $ | 6,608 |  |  | $ | 3,634 |  |  | $ | 595 |  |  | $ | (1,234) |  |  | $ | 9,603 |  |
| Depreciation and Amortization |  | 887 |  |  | 368 |  |  | 30 |  |  | — |  |  | 1,285 |  |
| Operating Income (Loss) |  | 1,639 |  |  | 603 |  |  | 28 |  |  | — |  |  | 2,270 |  |
| Income from Equity Method Investments |  | — |  |  | 14 |  |  | — |  |  | — |  |  | 14 |  |
| Interest Income |  | 17 |  |  | 6 |  |  | 5 |  |  | (3) |  |  | 25 |  |
| Interest Expense |  | 388 |  |  | 121 |  |  | 94 |  |  | (3) |  |  | 600 |  |
| Income (Loss) before Income Taxes |  | 1,567 |  |  | 782 |  |  | (48) |  |  | — |  |  | 2,301 |  |
| Income Tax Expense (Benefit) |  | 240 |  |  | 188 |  |  | (32) |  |  | — |  |  | 396 |  |
| Net Income (Loss) (C) |  | $ | 1,327 |  |  | $ | 594 |  |  | $ | (16) |  |  | $ | — |  |  | $ | 1,905 |  |
| Gross Additions to Long-Lived Assets |  | $ | 2,507 |  |  | $ | 404 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 2,923 |  |
| As of December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
| Total Assets |  | $ | 35,581 |  |  | $ | 12,704 |  |  | $ | 2,692 |  |  | $ | (927) |  |  | $ | 50,050 |  |
| Investments in Equity Method Subsidiaries |  | $ | — |  |  | $ | 64 |  |  | $ | — |  |  | $ | — |  |  | $ | 64 |  |
|  |  | PSE&G |  | PSEG Power |  | Other (A) |  | Eliminations (B) |  | Consolidated Total |
|  |  | Millions |
| Year Ended December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
| Operating Revenues |  | $ | 6,625 |  |  | $ | 4,385 |  |  | $ | 549 |  |  | $ | (1,483) |  |  | $ | 10,076 |  |
| Depreciation and Amortization |  | 837 |  |  | 377 |  |  | 34 |  |  | — |  |  | 1,248 |  |
| Operating Income (Loss) |  | 1,469 |  |  | 448 |  |  | 26 |  |  | — |  |  | 1,943 |  |
| Income from Equity Method Investments |  | — |  |  | 14 |  |  | — |  |  | — |  |  | 14 |  |
| Interest Income |  | 18 |  |  | 7 |  |  | 6 |  |  | (5) |  |  | 26 |  |
| Interest Expense |  | 361 |  |  | 119 |  |  | 94 |  |  | (5) |  |  | 569 |  |
| Income (Loss) before Income Taxes |  | 1,343 |  |  | 671 |  |  | (64) |  |  | — |  |  | 1,950 |  |
| Income Tax Expense (Benefit) |  | 93 |  |  | 203 |  |  | (39) |  |  | — |  |  | 257 |  |
| Net Income (Loss) (C) |  | $ | 1,250 |  |  | $ | 468 |  |  | $ | (25) |  |  | $ | — |  |  | $ | 1,693 |  |
| Gross Additions to Long-Lived Assets |  | $ | 2,542 |  |  | $ | 607 |  |  | $ | 17 |  |  | $ | — |  |  | $ | 3,166 |  |
| As of December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
| Total Assets |  | $ | 33,266 |  |  | $ | 12,805 |  |  | $ | 2,715 |  |  | $ | (1,056) |  |  | $ | 47,730 |  |
| Investments in Equity Method Subsidiaries |  | $ | — |  |  | $ | 66 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 67 |  |
|  |  | PSE&G |  | PSEG Power |  | Other (A) |  | Eliminations (B) |  | Consolidated Total |
|  |  | Millions |
| Year Ended December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
| Operating Revenues |  | $ | 6,471 |  |  | $ | 4,146 |  |  | $ | 571 |  |  | $ | (1,492) |  |  | $ | 9,696 |  |
| Depreciation and Amortization |  | 770 |  |  | 354 |  |  | 34 |  |  | — |  |  | 1,158 |  |
| Operating Income (Loss) |  | 1,606 |  |  | 596 |  |  | 96 |  |  | — |  |  | 2,298 |  |
| Income from Equity Method Investments |  | — |  |  | 15 |  |  | — |  |  | — |  |  | 15 |  |
| Interest Income |  | 21 |  |  | 5 |  |  | 9 |  |  | (6) |  |  | 29 |  |
| Interest Expense |  | 333 |  |  | 76 |  |  | 73 |  |  | (6) |  |  | 476 |  |
| Income (Loss) before Income Taxes |  | 1,411 |  |  | 431 |  |  | 13 |  |  | — |  |  | 1,855 |  |
| Income Tax Expense (Benefit) |  | 344 |  |  | 66 |  |  | 7 |  |  | — |  |  | 417 |  |
| Net Income (Loss) |  | $ | 1,067 |  |  | $ | 365 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 1,438 |  |
| Gross Additions to Long-Lived Assets |  | $ | 2,896 |  |  | $ | 996 |  |  | $ | 20 |  |  | $ | — |  |  | $ | 3,912 |  |
| As of December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
| Total Assets |  | $ | 31,109 |  |  | $ | 12,594 |  |  | $ | 2,604 |  |  | $ | (981) |  |  | $ | 45,326 |  |
| Investments in Equity Method Subsidiaries |  | $ | — |  |  | $ | 86 |  |  | $ | — |  |  | $ | — |  |  | $ | 86 |  |
(A)Includes amounts applicable to Energy Holdings and PSEG LI, which are below the quantitative threshold for separate disclosure as reportable segments. Other also includes amounts applicable to PSEG (parent corporation) and Services. (B)Intercompany eliminations primarily relate to intercompany transactions between PSE&G and PSEG Power. For a further discussion of the intercompany transactions between PSE&G and PSEG Power, see Note 26. Related-Party Transactions. (C)Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility and an after-tax loss of $286 million in the year ended December 31, 2019 related to the sale of PSEG Power’s ownership interests in the Keystone and Conemaugh fossil generation plants. See Note 4. Early Plant Retirements/Asset Dispositions for additional information.
Public Service Electric and Gas Company |
Segment Reporting Information [Line Items] |
Financial Information By Business Segments | Financial Information by Business Segment Basis of Organization PSEG’s, PSE&G’s and PSEG Power’s operating segments were determined by management in accordance with GAAP. These segments were determined based on how management measures performance based on segment Net Income, as illustrated in the following table, and how resources are allocated to each business. PSEG’s reportable segments are PSE&G and PSEG Power. PSE&G and PSEG Power each represent a single reportable segment and therefore no separate segment information is provided for these Registrants. PSE&G PSE&G earns revenues from its tariffs, under which it provides electric transmission and electric and gas distribution services to residential, commercial and industrial customers in New Jersey. The rates charged for electric transmission are regulated by FERC while the rates charged for electric and gas distribution are regulated by the BPU. Revenues are also earned from several other activities such as solar investments, sundry sales, the appliance service business, wholesale transmission services and other miscellaneous services. PSEG Power PSEG Power earns revenues by selling energy, capacity and ancillary services on a wholesale basis under contract to power marketers and to load-serving entities and by bidding energy, capacity and ancillary services into the markets for these products. A significant portion of PSEG Power’s revenue is obtained from the various ISOs in which PSEG Power operates. The ISOs act similarly to a clearing house for all of its members in that all revenues paid out are collected from market participants based on their consumption of energy and energy-related products. PSEG Power also enters into bilateral contracts for energy, capacity, FTRs, gas, emission allowances and other energy-related contracts to optimize the value of its portfolio of generating assets and its electric and gas supply obligations. In addition, PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants receive ZEC revenue from the EDCs in New Jersey including PSE&G. Other This category includes amounts applicable to Energy Holdings and PSEG LI, which are below the quantitative threshold for separate disclosure as reportable segments. Other also includes amounts applicable to PSEG (parent corporation) and Services.
|  |  | PSE&G |  | PSEG Power |  | Other (A) |  | Eliminations (B) |  | Consolidated Total |
|  |  | Millions |
| Year Ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
| Operating Revenues |  | $ | 6,608 |  |  | $ | 3,634 |  |  | $ | 595 |  |  | $ | (1,234) |  |  | $ | 9,603 |  |
| Depreciation and Amortization |  | 887 |  |  | 368 |  |  | 30 |  |  | — |  |  | 1,285 |  |
| Operating Income (Loss) |  | 1,639 |  |  | 603 |  |  | 28 |  |  | — |  |  | 2,270 |  |
| Income from Equity Method Investments |  | — |  |  | 14 |  |  | — |  |  | — |  |  | 14 |  |
| Interest Income |  | 17 |  |  | 6 |  |  | 5 |  |  | (3) |  |  | 25 |  |
| Interest Expense |  | 388 |  |  | 121 |  |  | 94 |  |  | (3) |  |  | 600 |  |
| Income (Loss) before Income Taxes |  | 1,567 |  |  | 782 |  |  | (48) |  |  | — |  |  | 2,301 |  |
| Income Tax Expense (Benefit) |  | 240 |  |  | 188 |  |  | (32) |  |  | — |  |  | 396 |  |
| Net Income (Loss) (C) |  | $ | 1,327 |  |  | $ | 594 |  |  | $ | (16) |  |  | $ | — |  |  | $ | 1,905 |  |
| Gross Additions to Long-Lived Assets |  | $ | 2,507 |  |  | $ | 404 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 2,923 |  |
| As of December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
| Total Assets |  | $ | 35,581 |  |  | $ | 12,704 |  |  | $ | 2,692 |  |  | $ | (927) |  |  | $ | 50,050 |  |
| Investments in Equity Method Subsidiaries |  | $ | — |  |  | $ | 64 |  |  | $ | — |  |  | $ | — |  |  | $ | 64 |  |
|  |  | PSE&G |  | PSEG Power |  | Other (A) |  | Eliminations (B) |  | Consolidated Total |
|  |  | Millions |
| Year Ended December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
| Operating Revenues |  | $ | 6,625 |  |  | $ | 4,385 |  |  | $ | 549 |  |  | $ | (1,483) |  |  | $ | 10,076 |  |
| Depreciation and Amortization |  | 837 |  |  | 377 |  |  | 34 |  |  | — |  |  | 1,248 |  |
| Operating Income (Loss) |  | 1,469 |  |  | 448 |  |  | 26 |  |  | — |  |  | 1,943 |  |
| Income from Equity Method Investments |  | — |  |  | 14 |  |  | — |  |  | — |  |  | 14 |  |
| Interest Income |  | 18 |  |  | 7 |  |  | 6 |  |  | (5) |  |  | 26 |  |
| Interest Expense |  | 361 |  |  | 119 |  |  | 94 |  |  | (5) |  |  | 569 |  |
| Income (Loss) before Income Taxes |  | 1,343 |  |  | 671 |  |  | (64) |  |  | — |  |  | 1,950 |  |
| Income Tax Expense (Benefit) |  | 93 |  |  | 203 |  |  | (39) |  |  | — |  |  | 257 |  |
| Net Income (Loss) (C) |  | $ | 1,250 |  |  | $ | 468 |  |  | $ | (25) |  |  | $ | — |  |  | $ | 1,693 |  |
| Gross Additions to Long-Lived Assets |  | $ | 2,542 |  |  | $ | 607 |  |  | $ | 17 |  |  | $ | — |  |  | $ | 3,166 |  |
| As of December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
| Total Assets |  | $ | 33,266 |  |  | $ | 12,805 |  |  | $ | 2,715 |  |  | $ | (1,056) |  |  | $ | 47,730 |  |
| Investments in Equity Method Subsidiaries |  | $ | — |  |  | $ | 66 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 67 |  |
|  |  | PSE&G |  | PSEG Power |  | Other (A) |  | Eliminations (B) |  | Consolidated Total |
|  |  | Millions |
| Year Ended December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
| Operating Revenues |  | $ | 6,471 |  |  | $ | 4,146 |  |  | $ | 571 |  |  | $ | (1,492) |  |  | $ | 9,696 |  |
| Depreciation and Amortization |  | 770 |  |  | 354 |  |  | 34 |  |  | — |  |  | 1,158 |  |
| Operating Income (Loss) |  | 1,606 |  |  | 596 |  |  | 96 |  |  | — |  |  | 2,298 |  |
| Income from Equity Method Investments |  | — |  |  | 15 |  |  | — |  |  | — |  |  | 15 |  |
| Interest Income |  | 21 |  |  | 5 |  |  | 9 |  |  | (6) |  |  | 29 |  |
| Interest Expense |  | 333 |  |  | 76 |  |  | 73 |  |  | (6) |  |  | 476 |  |
| Income (Loss) before Income Taxes |  | 1,411 |  |  | 431 |  |  | 13 |  |  | — |  |  | 1,855 |  |
| Income Tax Expense (Benefit) |  | 344 |  |  | 66 |  |  | 7 |  |  | — |  |  | 417 |  |
| Net Income (Loss) |  | $ | 1,067 |  |  | $ | 365 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 1,438 |  |
| Gross Additions to Long-Lived Assets |  | $ | 2,896 |  |  | $ | 996 |  |  | $ | 20 |  |  | $ | — |  |  | $ | 3,912 |  |
| As of December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
| Total Assets |  | $ | 31,109 |  |  | $ | 12,594 |  |  | $ | 2,604 |  |  | $ | (981) |  |  | $ | 45,326 |  |
| Investments in Equity Method Subsidiaries |  | $ | — |  |  | $ | 86 |  |  | $ | — |  |  | $ | — |  |  | $ | 86 |  |
(A)Includes amounts applicable to Energy Holdings and PSEG LI, which are below the quantitative threshold for separate disclosure as reportable segments. Other also includes amounts applicable to PSEG (parent corporation) and Services. (B)Intercompany eliminations primarily relate to intercompany transactions between PSE&G and PSEG Power. For a further discussion of the intercompany transactions between PSE&G and PSEG Power, see Note 26. Related-Party Transactions. (C)Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility and an after-tax loss of $286 million in the year ended December 31, 2019 related to the sale of PSEG Power’s ownership interests in the Keystone and Conemaugh fossil generation plants. See Note 4. Early Plant Retirements/Asset Dispositions for additional information.
PSEG Power LLC |
Segment Reporting Information [Line Items] |
Financial Information By Business Segments | Financial Information by Business Segment Basis of Organization PSEG’s, PSE&G’s and PSEG Power’s operating segments were determined by management in accordance with GAAP. These segments were determined based on how management measures performance based on segment Net Income, as illustrated in the following table, and how resources are allocated to each business. PSEG’s reportable segments are PSE&G and PSEG Power. PSE&G and PSEG Power each represent a single reportable segment and therefore no separate segment information is provided for these Registrants. PSE&G PSE&G earns revenues from its tariffs, under which it provides electric transmission and electric and gas distribution services to residential, commercial and industrial customers in New Jersey. The rates charged for electric transmission are regulated by FERC while the rates charged for electric and gas distribution are regulated by the BPU. Revenues are also earned from several other activities such as solar investments, sundry sales, the appliance service business, wholesale transmission services and other miscellaneous services. PSEG Power PSEG Power earns revenues by selling energy, capacity and ancillary services on a wholesale basis under contract to power marketers and to load-serving entities and by bidding energy, capacity and ancillary services into the markets for these products. A significant portion of PSEG Power’s revenue is obtained from the various ISOs in which PSEG Power operates. The ISOs act similarly to a clearing house for all of its members in that all revenues paid out are collected from market participants based on their consumption of energy and energy-related products. PSEG Power also enters into bilateral contracts for energy, capacity, FTRs, gas, emission allowances and other energy-related contracts to optimize the value of its portfolio of generating assets and its electric and gas supply obligations. In addition, PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants receive ZEC revenue from the EDCs in New Jersey including PSE&G. Other This category includes amounts applicable to Energy Holdings and PSEG LI, which are below the quantitative threshold for separate disclosure as reportable segments. Other also includes amounts applicable to PSEG (parent corporation) and Services.
|  |  | PSE&G |  | PSEG Power |  | Other (A) |  | Eliminations (B) |  | Consolidated Total |
|  |  | Millions |
| Year Ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
| Operating Revenues |  | $ | 6,608 |  |  | $ | 3,634 |  |  | $ | 595 |  |  | $ | (1,234) |  |  | $ | 9,603 |  |
| Depreciation and Amortization |  | 887 |  |  | 368 |  |  | 30 |  |  | — |  |  | 1,285 |  |
| Operating Income (Loss) |  | 1,639 |  |  | 603 |  |  | 28 |  |  | — |  |  | 2,270 |  |
| Income from Equity Method Investments |  | — |  |  | 14 |  |  | — |  |  | — |  |  | 14 |  |
| Interest Income |  | 17 |  |  | 6 |  |  | 5 |  |  | (3) |  |  | 25 |  |
| Interest Expense |  | 388 |  |  | 121 |  |  | 94 |  |  | (3) |  |  | 600 |  |
| Income (Loss) before Income Taxes |  | 1,567 |  |  | 782 |  |  | (48) |  |  | — |  |  | 2,301 |  |
| Income Tax Expense (Benefit) |  | 240 |  |  | 188 |  |  | (32) |  |  | — |  |  | 396 |  |
| Net Income (Loss) (C) |  | $ | 1,327 |  |  | $ | 594 |  |  | $ | (16) |  |  | $ | — |  |  | $ | 1,905 |  |
| Gross Additions to Long-Lived Assets |  | $ | 2,507 |  |  | $ | 404 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 2,923 |  |
| As of December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
| Total Assets |  | $ | 35,581 |  |  | $ | 12,704 |  |  | $ | 2,692 |  |  | $ | (927) |  |  | $ | 50,050 |  |
| Investments in Equity Method Subsidiaries |  | $ | — |  |  | $ | 64 |  |  | $ | — |  |  | $ | — |  |  | $ | 64 |  |
|  |  | PSE&G |  | PSEG Power |  | Other (A) |  | Eliminations (B) |  | Consolidated Total |
|  |  | Millions |
| Year Ended December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
| Operating Revenues |  | $ | 6,625 |  |  | $ | 4,385 |  |  | $ | 549 |  |  | $ | (1,483) |  |  | $ | 10,076 |  |
| Depreciation and Amortization |  | 837 |  |  | 377 |  |  | 34 |  |  | — |  |  | 1,248 |  |
| Operating Income (Loss) |  | 1,469 |  |  | 448 |  |  | 26 |  |  | — |  |  | 1,943 |  |
| Income from Equity Method Investments |  | — |  |  | 14 |  |  | — |  |  | — |  |  | 14 |  |
| Interest Income |  | 18 |  |  | 7 |  |  | 6 |  |  | (5) |  |  | 26 |  |
| Interest Expense |  | 361 |  |  | 119 |  |  | 94 |  |  | (5) |  |  | 569 |  |
| Income (Loss) before Income Taxes |  | 1,343 |  |  | 671 |  |  | (64) |  |  | — |  |  | 1,950 |  |
| Income Tax Expense (Benefit) |  | 93 |  |  | 203 |  |  | (39) |  |  | — |  |  | 257 |  |
| Net Income (Loss) (C) |  | $ | 1,250 |  |  | $ | 468 |  |  | $ | (25) |  |  | $ | — |  |  | $ | 1,693 |  |
| Gross Additions to Long-Lived Assets |  | $ | 2,542 |  |  | $ | 607 |  |  | $ | 17 |  |  | $ | — |  |  | $ | 3,166 |  |
| As of December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
| Total Assets |  | $ | 33,266 |  |  | $ | 12,805 |  |  | $ | 2,715 |  |  | $ | (1,056) |  |  | $ | 47,730 |  |
| Investments in Equity Method Subsidiaries |  | $ | — |  |  | $ | 66 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 67 |  |
|  |  | PSE&G |  | PSEG Power |  | Other (A) |  | Eliminations (B) |  | Consolidated Total |
|  |  | Millions |
| Year Ended December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
| Operating Revenues |  | $ | 6,471 |  |  | $ | 4,146 |  |  | $ | 571 |  |  | $ | (1,492) |  |  | $ | 9,696 |  |
| Depreciation and Amortization |  | 770 |  |  | 354 |  |  | 34 |  |  | — |  |  | 1,158 |  |
| Operating Income (Loss) |  | 1,606 |  |  | 596 |  |  | 96 |  |  | — |  |  | 2,298 |  |
| Income from Equity Method Investments |  | — |  |  | 15 |  |  | — |  |  | — |  |  | 15 |  |
| Interest Income |  | 21 |  |  | 5 |  |  | 9 |  |  | (6) |  |  | 29 |  |
| Interest Expense |  | 333 |  |  | 76 |  |  | 73 |  |  | (6) |  |  | 476 |  |
| Income (Loss) before Income Taxes |  | 1,411 |  |  | 431 |  |  | 13 |  |  | — |  |  | 1,855 |  |
| Income Tax Expense (Benefit) |  | 344 |  |  | 66 |  |  | 7 |  |  | — |  |  | 417 |  |
| Net Income (Loss) |  | $ | 1,067 |  |  | $ | 365 |  |  | $ | 6 |  |  | $ | — |  |  | $ | 1,438 |  |
| Gross Additions to Long-Lived Assets |  | $ | 2,896 |  |  | $ | 996 |  |  | $ | 20 |  |  | $ | — |  |  | $ | 3,912 |  |
| As of December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
| Total Assets |  | $ | 31,109 |  |  | $ | 12,594 |  |  | $ | 2,604 |  |  | $ | (981) |  |  | $ | 45,326 |  |
| Investments in Equity Method Subsidiaries |  | $ | — |  |  | $ | 86 |  |  | $ | — |  |  | $ | — |  |  | $ | 86 |  |
(A)Includes amounts applicable to Energy Holdings and PSEG LI, which are below the quantitative threshold for separate disclosure as reportable segments. Other also includes amounts applicable to PSEG (parent corporation) and Services. (B)Intercompany eliminations primarily relate to intercompany transactions between PSE&G and PSEG Power. For a further discussion of the intercompany transactions between PSE&G and PSEG Power, see Note 26. Related-Party Transactions. (C)Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility and an after-tax loss of $286 million in the year ended December 31, 2019 related to the sale of PSEG Power’s ownership interests in the Keystone and Conemaugh fossil generation plants. See Note 4. Early Plant Retirements/Asset Dispositions for additional information.

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