v3.26.1
Financial Information By Business Segment (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Financial Information By Business Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PSE&G

 

 

PSEG Power & Other (A)

 

 

Eliminations (B)

 

 

Consolidated Total

 

 

 

 

 

Millions

 

 

 

Three Months Ended March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues

 

$

3,085

 

 

$

1,416

 

 

$

(653

)

 

$

3,848

 

 

 

Energy Costs

 

 

1,358

 

 

 

802

 

 

 

(653

)

 

 

1,507

 

 

 

Controllable Operation and Maintenance (C)

 

 

364

 

 

 

138

 

 

 

—

 

 

 

502

 

 

 

Depreciation and Amortization

 

 

295

 

 

 

34

 

 

 

—

 

 

 

329

 

 

 

Interest Income

 

 

7

 

 

 

3

 

 

 

—

 

 

 

10

 

 

 

Interest Expense

 

 

175

 

 

 

97

 

 

 

—

 

 

 

272

 

 

 

Income Tax Expense

 

 

79

 

 

 

28

 

 

 

—

 

 

 

107

 

 

 

Other Segment Items (D)

 

 

244

 

 

 

156

 

 

 

—

 

 

 

400

 

 

 

Net Income

 

$

577

 

 

$

164

 

 

$

—

 

 

$

741

 

 

 

Gross Additions to Long-Lived Assets

 

$

621

 

 

$

72

 

 

$

—

 

 

$

693

 

 

 

Three Months Ended March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues

 

$

2,664

 

 

$

1,092

 

 

$

(534

)

 

$

3,222

 

 

 

Energy Costs

 

 

1,094

 

 

 

626

 

 

 

(534

)

 

 

1,186

 

 

 

Controllable Operation and Maintenance (C)

 

 

354

 

 

 

179

 

 

 

—

 

 

 

533

 

 

 

Depreciation and Amortization

 

 

280

 

 

 

40

 

 

 

—

 

 

 

320

 

 

 

Interest Income

 

 

4

 

 

 

5

 

 

 

(1

)

 

 

8

 

 

 

Interest Expense

 

 

157

 

 

 

85

 

 

 

(1

)

 

 

241

 

 

 

Income Tax Expense (Benefit)

 

 

44

 

 

 

(16

)

 

 

—

 

 

 

28

 

 

 

Other Segment Items (D)

 

 

193

 

 

 

140

 

 

 

—

 

 

 

333

 

 

 

Net Income

 

$

546

 

 

$

43

 

 

$

—

 

 

$

589

 

 

 

Gross Additions to Long-Lived Assets

 

$

605

 

 

$

54

 

 

$

(31

)

 

$

628

 

 

 

As of March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets

 

$

49,703

 

 

$

8,754

 

 

$

(512

)

 

$

57,945

 

 

 

Investments in Equity Method Subsidiaries

 

$

—

 

 

$

28

 

 

$

—

 

 

$

28

 

 

 

As of December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets

 

$

49,024

 

 

$

9,067

 

 

$

(515

)

 

$

57,576

 

 

 

Investments in Equity Method Subsidiaries

 

$

—

 

 

$

26

 

 

$

—

 

 

$

26

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(A)
PSEG Power & Other results include net after-tax gains (losses) of $(30) million and $(135) million for the three months ended March 31, 2026 and 2025, respectively, related to the impacts of non-trading commodity mark-to-market activity, which consists of the financial impact from positions with future delivery dates.
(B)
Intercompany eliminations primarily relate to intercompany transactions between PSE&G and PSEG Power. For a further discussion of the intercompany transactions between PSE&G and PSEG Power, see Note 2. Revenues and Note 17. Related-Party Transactions.
(C)
Controllable Operation and Maintenance expense includes amounts for labor and benefit costs, materials, outside services and other normal operational costs, including intersegment amounts, and is the significant expense information that is regularly provided to the Chief Operating Decision Maker (the Chief Executive Officer (CEO) for PSEG and PSE&G).
(D)
Other Segment Items include all other items to reconcile to Net Income. This includes all other O&M (primarily related to clause related expenditures at PSE&G and expenditures for transactions in which Servco acts as principal and controls the services provided to LIPA at PSEG Power & Other, each of which offset corresponding revenue amounts in those segments), non-operating pension and OPEB credits and costs, gains and losses on trust investments and other income and deductions.