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Earnings Per Share (EPS) and Dividends | 3 Months Ended
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Mar. 31, 2021
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 March 31, |
|  |  |  |  |  | 2021 |  | 2020 |
|  |  |  |  |  |  |  |  |  | Basic |  | Diluted |  | Basic |  | Diluted |
| EPS Numerator (Millions): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income |  |  |  |  |  |  |  |  | $ | 648 |  |  | $ | 648 |  |  | $ | 448 |  |  | $ | 448 |  |
| EPS Denominator (Millions): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Weighted Average Common Shares Outstanding |  |  |  |  |  |  |  |  | 504 |  |  | 504 |  |  | 504 |  |  | 504 |  |
| Effect of Stock Based Compensation Awards |  |  |  |  |  |  |  |  | — |  |  | 3 |  |  | — |  |  | 3 |  |
| Total Shares |  |  |  |  |  |  |  |  | 504 |  |  | 507 |  |  | 504 |  |  | 507 |  |
| EPS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income |  |  |  |  |  |  |  |  | $ | 1.29 |  |  | $ | 1.28 |  |  | $ | 0.89 |  |  | $ | 0.88 |  |
Dividends
|  |  |  | Three Months Ended |
|  |  |  | March 31, |
| Dividend Payments on Common Stock |  |  |  |  | 2021 |  | 2020 |
| Per Share |  |  |  |  | $ | 0.51 |  |  | $ | 0.49 |  |
| In Millions |  |  |  |  | $ | 258 |  |  | $ | 248 |  |
On April 20, 2021, the PSEG Board of Directors approved a $0.51 per share common stock dividend for the second quarter of 2021.

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