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Earnings Per Share (EPS) and Dividends | 12 Months Ended
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Dec. 31, 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 PSUs or RSUs. For additional information on PSEG’s stock compensation plans see Note 20. Stock Based Compensation. The following table shows the effect of these stock options, PSUs and RSUs on the weighted average number of shares outstanding used in calculating diluted EPS:
|  |  | Years Ended December 31, |
|  |  | 2020 |  | 2019 |  | 2018 |
|  |  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted |
| EPS Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |
| (Millions) |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income |  | $ | 1,905 |  |  | $ | 1,905 |  |  | $ | 1,693 |  |  | $ | 1,693 |  |  | $ | 1,438 |  |  | $ | 1,438 |  |
| EPS Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |
| (Millions) |  |  |  |  |  |  |  |  |  |  |  |  |
| Weighted Average Common Shares Outstanding |  | 504 |  |  | 504 |  |  | 504 |  |  | 504 |  |  | 504 |  |  | 504 |  |
| Effect of Stock Based Compensation Awards |  | — |  |  | 3 |  |  | — |  |  | 3 |  |  | — |  |  | 3 |  |
| Total Shares |  | 504 |  |  | 507 |  |  | 504 |  |  | 507 |  |  | 504 |  |  | 507 |  |
| EPS: |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income |  | $ | 3.78 |  |  | $ | 3.76 |  |  | $ | 3.35 |  |  | $ | 3.33 |  |  | $ | 2.85 |  |  | $ | 2.83 |  |
For additional information on all the types of long-term incentive awards, see Note 20. Stock Based Compensation. Dividends
|  |  | Years Ended December 31, |
| Dividend Payments on Common Stock |  | 2020 |  | 2019 |  | 2018 |
| Per Share |  | $ | 1.96 |  |  | $ | 1.88 |  |  | $ | 1.80 |  |
| in Millions |  | $ | 991 |  |  | $ | 950 |  |  | $ | 910 |  |
On February 16, 2021, PSEG’s Board of Directors approved a $0.51 per share common stock dividend for the first quarter of 2021.

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