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Earnings Per Share (EPS) and Dividends | 12 Months Ended
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Dec. 31, 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 (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. For additional information on PSEG’s stock compensation plans see Note 18. 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:
|  |  | Years Ended December 31, |
|  |  | 2023 |  | 2022 |  | 2021 |
|  |  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted |
| EPS Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |
| (Millions) |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income (Loss) |  | $ | 2,563 |  |  | $ | 2,563 |  |  | $ | 1,031 |  |  | $ | 1,031 |  |  | $ | (648) |  |  | $ | (648) |  |
| EPS Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |
| (Millions) |  |  |  |  |  |  |  |  |  |  |  |  |
| Weighted Average Common Shares Outstanding |  | 498 |  |  | 498 |  |  | 498 |  |  | 498 |  |  | 504 |  |  | 504 |  |
| Effect of Stock Based Compensation Awards |  | — |  |  | 2 |  |  | — |  |  | 3 |  |  | — |  |  | — |  |
| Total Shares |  | 498 |  |  | 500 |  |  | 498 |  |  | 501 |  |  | 504 |  |  | 504 |  |
| EPS: |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income (Loss) |  | $ | 5.15 |  |  | $ | 5.13 |  |  | $ | 2.07 |  |  | $ | 2.06 |  |  | $ | (1.29) |  |  | $ | (1.29) |  |
Approximately 3 million potentially dilutive shares were excluded from total shares used to calculate the diluted loss per share for the year ended December 31, 2021, as their impact was antidilutive. From time to time, PSEG may repurchase shares to satisfy obligations under equity compensation awards and repurchase shares to satisfy purchases by employees under the ESPP. For additional information on all the types of long-term incentive awards, see Note 18. Stock Based Compensation. During 2022, PSEG completed a $500 million share repurchase program authorized by the Board of Directors in September 2021 resulting in an aggregate repurchase of approximately 7.4 million shares. Common Stock Dividends
|  |  | Years Ended December 31, |
| Dividend Payments on Common Stock |  | 2023 |  | 2022 |  | 2021 |
| Per Share |  | $ | 2.28 |  |  | $ | 2.16 |  |  | $ | 2.04 |  |
| in Millions |  | $ | 1,137 |  |  | $ | 1,079 |  |  | $ | 1,031 |  |
On February 13, 2024, PSEG’s Board of Directors approved a $0.60 per share common stock dividend for the first quarter of 2024.

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