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Earnings Per Share (EPS) and Dividends | 9 Months Ended
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Sep. 30, 2023
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 by the weighted average number of shares of common stock outstanding. Diluted EPS is calculated by dividing Net Income 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 September 30, |  | Nine Months Ended September 30, |
|  | 2023 |  | 2022 |  | 2023 |  | 2022 |
|  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted |
| EPS Numerator (Millions): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income | $ | 139 |  |  | $ | 139 |  |  | $ | 114 |  |  | $ | 114 |  |  | $ | 2,017 |  |  | $ | 2,017 |  |  | $ | 243 |  |  | $ | 243 |  |
| EPS Denominator (Millions): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Weighted Average Common Shares Outstanding | 498 |  |  | 498 |  |  | 497 |  |  | 497 |  |  | 497 |  |  | 497 |  |  | 498 |  |  | 498 |  |
| Effect of Stock Based Compensation Awards | — |  |  | 2 |  |  | — |  |  | 3 |  |  | — |  |  | 3 |  |  | — |  |  | 3 |  |
| Total Shares | 498 |  |  | 500 |  |  | 497 |  |  | 500 |  |  | 497 |  |  | 500 |  |  | 498 |  |  | 501 |  |
| EPS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income | $ | 0.28 |  |  | $ | 0.27 |  |  | $ | 0.23 |  |  | $ | 0.22 |  |  | $ | 4.06 |  |  | $ | 4.03 |  |  | $ | 0.49 |  |  | $ | 0.48 |  |
Dividends
|  | Three Months Ended |  | Nine Months Ended |
|  | September 30, |  | September 30, |
| Dividend Payments on Common Stock | 2023 |  | 2022 |  | 2023 |  | 2022 |
| Per Share | $ | 0.57 |  |  | $ | 0.54 |  |  | $ | 1.71 |  |  | $ | 1.62 |  |
| In Millions | $ | 284 |  |  | $ | 269 |  |  | $ | 853 |  |  | $ | 810 |  |

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