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Earnings Per Share (EPS) and Dividends | 6 Months Ended
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Jun. 30, 2021
Earnings Per Share [Abstract] |
Earnings Per Share (EPS) and Dividends | Earnings Per Share (EPS) and Dividends EPS Basic EPS is calculated by dividing Net Income (Loss) by the weighted average number of shares of common stock outstanding. Diluted EPS is calculated by dividing Net Income (Loss) by the weighted average number of shares of common stock outstanding, plus dilutive potential shares related to PSEG’s stock based compensation. The following table shows the effect of these dilutive potential shares on the weighted average number of shares outstanding used in calculating diluted EPS:
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
|  | 2021 |  | 2020 |  | 2021 |  | 2020 |
|  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted |
| EPS Numerator (Millions): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income (Loss) | $ | (177) |  |  | $ | (177) |  |  | $ | 451 |  |  | $ | 451 |  |  | $ | 471 |  |  | $ | 471 |  |  | $ | 899 |  |  | $ | 899 |  |
| 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 |  |
| Total Shares | 504 |  |  | 504 |  |  | 504 |  |  | 507 |  |  | 504 |  |  | 507 |  |  | 504 |  |  | 507 |  |
| EPS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income (Loss) | $ | (0.35) |  |  | $ | (0.35) |  |  | $ | 0.89 |  |  | $ | 0.89 |  |  | $ | 0.94 |  |  | $ | 0.93 |  |  | $ | 1.78 |  |  | $ | 1.77 |  |
Approximately three million potentially dilutive shares were excluded from total shares used to calculate the diluted loss per share for the quarter ended June 30, 2021 as their impact was antidilutive. Dividends
|  | Three Months Ended |  | Six Months Ended |
|  | June 30, |  | June 30, |
| Dividend Payments on Common Stock | 2021 |  | 2020 |  | 2021 |  | 2020 |
| Per Share | $ | 0.51 |  |  | $ | 0.49 |  |  | $ | 1.02 |  |  | $ | 0.98 |  |
| In Millions | $ | 258 |  |  | $ | 247 |  |  | $ | 516 |  |  | $ | 495 |  |
On July 20, 2021, the PSEG Board of Directors approved a $0.51 per share common stock dividend for the third quarter of 2021.

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