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Long-Term Investments | 12 Months Ended
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Dec. 31, 2024
Long-Term Investments [Line Items] |
Long-Term Investments | Note 8. Long-T erm Investments Long-Term Investments as of December 31, 2024 and 2023 included the following:
|  |  | As of December 31, |  |
|  |  | 2024 |  |  | 2023 |  |
|  |  | Millions |  |
| PSE&G |  |  |  |  |  |  |
| Life Insurance and Supplemental Benefits |  | $ | 67 |  |  | $ | 77 |  |
| Solar Loans |  |  | 23 |  |  |  | 40 |  |
| PSEG Power & Other |  |  |  |  |  |  |
| Lease Investments |  |  | 150 |  |  |  | 161 |  |
| Equity Method Investments (A) |  |  | 21 |  |  |  | 17 |  |
| Other |  |  | 2 |  |  |  | — |  |
| Total Long-Term Investments |  | $ | 263 |  |  | $ | 295 |  |
(A) During the years ended December 31, 2024 and 2023, there were no dividends from these investments. During the year ended December 31, 2022, dividends from these investments were $8 million. Leases Energy Holdings, through its indirect subsidiaries, has investments in assets subject primarily to leveraged lease accounting. A leveraged lease is typically comprised of an investment by an equity investor and debt provided by a third-party debt investor. The debt is recourse only to the assets subject to lease and is not included on PSEG’s Consolidated Balance Sheets. As an equity investor, Energy Holdings’ equity investments in the leases are comprised of the total expected lease receivables over the lease terms, reduced for any income not yet earned on the leases. This amount is included in Long-Term Investments on PSEG’s Consolidated Balance Sheets. The more rapid depreciation of the leased property for tax purposes creates tax cash flow that will be repaid to the taxing authority in later periods. As such, the liability for such taxes due is recorded in Deferred Income Taxes on PSEG’s Consolidated Balance Sheets. Leveraged leases outstanding as of December 31, 2024 commenced in or prior to 2000.The following table shows Energy Holdings’ gross and net lease investment as of December 31, 2024 and2023.
|  |  | As of December 31, |  |
|  |  | 2024 |  |  | 2023 |  |
|  |  | Millions |  |
| Lease Receivables (net of Non-Recourse Debt) |  | $ | 200 |  |  | $ | 223 |  |
| Estimated Residual Value of Leased Assets |  |  | — |  |  |  | — |  |
| Total Investment in Rental Receivables |  |  | 200 |  |  |  | 223 |  |
| Unearned and Deferred Income |  |  | (50 | ) |  |  | (62 | ) |
| Gross Investments in Leases |  |  | 150 |  |  |  | 161 |  |
| Deferred Tax Liabilities |  |  | (33 | ) |  |  | (36 | ) |
| Net Investments in Leases |  | $ | 117 |  |  | $ | 125 |  |
The pre-tax income and income tax effects related to investments in leases were immaterial for the years ended December 31, 2024, 2023 and 2022.
Public Service Electric and Gas Company |
Long-Term Investments [Line Items] |
Long-Term Investments | Note 8. Long-T erm Investments Long-Term Investments as of December 31, 2024 and 2023 included the following:
|  |  | As of December 31, |  |
|  |  | 2024 |  |  | 2023 |  |
|  |  | Millions |  |
| PSE&G |  |  |  |  |  |  |
| Life Insurance and Supplemental Benefits |  | $ | 67 |  |  | $ | 77 |  |
| Solar Loans |  |  | 23 |  |  |  | 40 |  |
| PSEG Power & Other |  |  |  |  |  |  |
| Lease Investments |  |  | 150 |  |  |  | 161 |  |
| Equity Method Investments (A) |  |  | 21 |  |  |  | 17 |  |
| Other |  |  | 2 |  |  |  | — |  |
| Total Long-Term Investments |  | $ | 263 |  |  | $ | 295 |  |
(A) During the years ended December 31, 2024 and 2023, there were no dividends from these investments. During the year ended December 31, 2022, dividends from these investments were $8 million. Leases Energy Holdings, through its indirect subsidiaries, has investments in assets subject primarily to leveraged lease accounting. A leveraged lease is typically comprised of an investment by an equity investor and debt provided by a third-party debt investor. The debt is recourse only to the assets subject to lease and is not included on PSEG’s Consolidated Balance Sheets. As an equity investor, Energy Holdings’ equity investments in the leases are comprised of the total expected lease receivables over the lease terms, reduced for any income not yet earned on the leases. This amount is included in Long-Term Investments on PSEG’s Consolidated Balance Sheets. The more rapid depreciation of the leased property for tax purposes creates tax cash flow that will be repaid to the taxing authority in later periods. As such, the liability for such taxes due is recorded in Deferred Income Taxes on PSEG’s Consolidated Balance Sheets. Leveraged leases outstanding as of December 31, 2024 commenced in or prior to 2000.The following table shows Energy Holdings’ gross and net lease investment as of December 31, 2024 and2023.
|  |  | As of December 31, |  |
|  |  | 2024 |  |  | 2023 |  |
|  |  | Millions |  |
| Lease Receivables (net of Non-Recourse Debt) |  | $ | 200 |  |  | $ | 223 |  |
| Estimated Residual Value of Leased Assets |  |  | — |  |  |  | — |  |
| Total Investment in Rental Receivables |  |  | 200 |  |  |  | 223 |  |
| Unearned and Deferred Income |  |  | (50 | ) |  |  | (62 | ) |
| Gross Investments in Leases |  |  | 150 |  |  |  | 161 |  |
| Deferred Tax Liabilities |  |  | (33 | ) |  |  | (36 | ) |
| Net Investments in Leases |  | $ | 117 |  |  | $ | 125 |  |
The pre-tax income and income tax effects related to investments in leases were immaterial for the years ended December 31, 2024, 2023 and 2022.

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- Definition The entire disclosure for investment holdings. This includes the long positions of investments for the entity. It contains investments in affiliated and unaffiliated issuers. The investments include securities and non securities (i.e. commodities and futures contracts). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478795/946-210-50-12 + Details
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