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ORGANIZATION AND BASIS OF PRESENTATION (Tables) | 12 Months Ended
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Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Regulatory assets on the Balance Sheets | The following table provides information about the composition of net regulatory assets and liabilities as of December 31, 2022 and 2021, and the changes during the year ended December 31, 2022:
|  | As of December 31, |  |
Net Regulatory Assets (Liabilities) by Source |  | 2022 |  | 2021 |  | Change
|  | (In millions)
Customer payables for future income taxes |  | $ | (2,463) |  |  | $ | (2,345) |  |  | $ | (118) |
Spent nuclear fuel disposal costs |  | (83) |  |  | (101) |  |  | 18 |
Asset removal costs |  | (675) |  |  | (646) |  |  | (29) |
Deferred transmission costs |  | 50 |  |  | (3) |  |  | 53 |
Deferred generation costs |  | 235 |  |  | 118 |  |  | 117 |
Deferred distribution costs |  | 164 |  |  | 49 |  |  | 115 |
Storm-related costs |  | 683 |  |  | 660 |  |  | 23 |
Uncollectible and pandemic-related costs |  | 63 |  |  | 56 |  |  | 7 |
Energy efficiency program costs |  | 94 |  |  | 47 |  |  | 47 |
New Jersey societal benefit costs |  | 94 |  |  | 109 |  |  | (15) |
Vegetation management |  | 63 |  |  | 33 |  |  | 30 |
Other |  | (39) |  |  | (30) |  |  | (9) |
Net Regulatory Liabilities included on the Consolidated Balance Sheets |  | $ | (1,814) |  |  | $ | (2,053) |  |  | $ | 239 |
The following table provides information about the composition of net regulatory assets that do not earn a current return as of December 31, 2022 and 2021, of which approximately $511 million and $228 million, respectively, are currently being recovered through rates over varying periods, through 2068, depending on the nature of the deferral and the jurisdiction:
Regulatory Assets by Source Not Earning a |  | As of December 31, |  |
Current Return |  | 2022 |  | 2021 |  | Change
|  |  |  | (In millions) |  |
Deferred transmission costs |  | $ | 8 |  |  | $ | 13 |  |  | $ | (5) |
Deferred generation costs |  | 262 |  |  | 63 |  |  | 199 |
Deferred distribution costs |  | 27 |  |  | 2 |  |  | 25 |
Storm-related costs |  | 568 |  |  | 549 |  |  | 19 |
Pandemic-related costs |  | 70 |  |  | 65 |  |  | 5 |
Vegetation management |  | 52 |  |  | 31 |  |  | 21 |
Other |  | 10 |  |  | 9 |  |  | 1 |
Regulatory Assets Not Earning a Current Return |  | $ | 997 |  |  | $ | 732 |  |  | $ | 265 |
Schedule of Goodwill | The following table presents goodwill by reporting unit as of December 31, 2022:
(In millions) |  | Regulated Distribution |  | Regulated Transmission |  | Consolidated
Goodwill |  | $ | 5,004 |  |  | $ | 614 |  |  | $ | 5,618 |
Schedule of Property, plant and equipment balances | Property, plant and equipment balances by segment as of December 31, 2022 and 2021, were as follows:
|  | December 31, 2022
Property, Plant and Equipment |  | In Service(1) |  | Accum. Depr. |  | Net Plant |  | CWIP |  | Total
|  | (In millions)
Regulated Distribution |  | $ | 32,257 |  |  | $ | (9,636) |  |  | $ | 22,621 |  |  | $ | 828 |  |  | $ | 23,449 |
Regulated Transmission |  | 14,468 |  |  | (2,978) |  |  | 11,490 |  |  | 818 |  |  | 12,308 |
Corporate/Other |  | 1,125 |  |  | (644) |  |  | 481 |  |  | 47 |  |  | 528 |
Total |  | $ | 47,850 |  |  | $ | (13,258) |  |  | $ | 34,592 |  |  | $ | 1,693 |  |  | $ | 36,285 |
|  | December 31, 2021
Property, Plant and Equipment |  | In Service(1) |  | Accum. Depr. |  | Net Plant |  | CWIP |  | Total
|  | (In millions)
Regulated Distribution |  | $ | 31,154 |  |  | $ | (9,284) |  |  | $ | 21,870 |  |  | $ | 774 |  |  | $ | 22,644 |
Regulated Transmission |  | 13,744 |  |  | (2,789) |  |  | 10,955 |  |  | 580 |  |  | 11,535 |
Corporate/Other |  | 1,104 |  |  | (599) |  |  | 505 |  |  | 60 |  |  | 565 |
Total |  | $ | 46,002 |  |  | $ | (12,672) |  |  | $ | 33,330 |  |  | $ | 1,414 |  |  | $ | 34,744 |
(1) Includes finance leases of $105 million and $143 million as of December 31, 2022 and 2021, respectively.
Schedule of Changes to the asset retirement obligations | The following table summarizes the changes to the ARO balances during 2022 and 2021:
ARO Reconciliation |  | (In millions)
Balance, January 1, 2021 |  | $ | 159 |
Changes in timing and amount of estimated cash flows |  | 8 |
Liabilities settled |  | (1) |
Accretion |  | 13 |
Balance, December 31, 2021 |  | $ | 179 |
Changes in timing and amount of estimated cash flows |  | (2) |
Liabilities settled |  | (6) |
Accretion |  | 14 |
Balance, December 31, 2022 |  | $ | 185 |

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