Guarantees of Debt
 3 Months Ended
Mar. 31, 2018
Debt Instrument [Line Items]  
Guarantees of Debt
Guarantees of Debt
Power’s Senior Notes are fully and unconditionally and jointly and severally guaranteed by its subsidiaries, PSEG Fossil LLC, PSEG Nuclear LLC and PSEG Energy Resources & Trade LLC. The following tables present condensed financial information for the guarantor subsidiaries, as well as Power’s non-guarantor subsidiaries, as of March 31, 2018 and December 31, 2017 and for the three months ended March 31, 2018 and 2017.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Power
 
Guarantor
Subsidiaries
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Total
 
 
 
Millions
 
 
Three Months Ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
$
—

 
$
1,386

 
$
51

 
$
(34
)
 
$
1,403

 
 
Operating Expenses
—

 
1,056

 
52

 
(34
)
 
1,074

 
 
Operating Income (Loss)
—

 
330

 
(1
)
 
—

 
329

 
 
Equity Earnings (Losses) of Subsidiaries
234

 
(3
)
 
2

 
(231
)
 
2

 
 
Net Gains (Losses) on Trust Investments
—

 
(22
)
 
—

 
—

 
(22
)
 
 
Other Income (Deductions)
35

 
33

 
—

 
(57
)
 
11

 
 
Non-Operating Pension and OPEB Credits (Costs)
—

 
4

 
—

 
—

 
4

 
 
Interest Expense
(42
)
 
(17
)
 
(5
)
 
57

 
(7
)
 
 
Income Tax Benefit (Expense)
7

 
(92
)
 
2

 
—

 
(83
)
 
 
Net Income (Loss)
$
234

 
$
233

 
$
(2
)
 
$
(231
)
 
$
234

 
 
Comprehensive Income (Loss)
$
229

 
$
223

 
$
(2
)
 
$
(221
)
 
$
229

 
 
Three Months Ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Net Cash Provided By (Used In)
   Operating Activities
$
(5
)
 
$
525

 
$
(49
)
 
$
71

 
$
542

 
 
Net Cash Provided By (Used In)
   Investing Activities
$
(215
)
 
$
(625
)
 
$
(82
)
 
$
605

 
$
(317
)
 
 
Net Cash Provided By (Used In)
   Financing Activities
$
220

 
$
100

 
$
111

 
$
(677
)
 
$
(246
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Power
 
Guarantor
Subsidiaries
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Total
 
 
 
Millions
 
 
Three Months Ended March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
$
—

 
$
1,255

 
$
52

 
$
(38
)
 
$
1,269

 
 
Operating Expenses
4

 
1,556

 
52

 
(38
)
 
1,574

 
 
Operating Income (Loss)
(4
)
 
(301
)
 
—

 
—

 
(305
)
 
 
Equity Earnings (Losses) of Subsidiaries
(161
)
 
(1
)
 
3

 
162

 
3

 
 
 Net Gains (Losses) on Trust Investments
4

 
15

 
—

 
—

 
19

 
 
Other Income (Deductions)
20

 
19

 
—

 
(28
)
 
11

 
 
Non-Operating Pension and OPEB Credits (Costs)
—

 
2

 
—

 
—

 
2

 
 
Interest Expense
(30
)
 
(9
)
 
(5
)
 
28

 
(16
)
 
 
Income Tax Benefit (Expense)
1

 
111

 
4

 
—

 
116

 
 
Net Income (Loss)
$
(170
)
 
$
(164
)
 
$
2

 
$
162

 
$
(170
)
 
 
Comprehensive Income (Loss)
$
(146
)
 
$
(143
)
 
$
2

 
$
141

 
$
(146
)
 
 
Three Months Ended March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Net Cash Provided By (Used In)
   Operating Activities
$
77

 
$
377

 
$
91

 
$
35

 
$
580

 
 
Net Cash Provided By (Used In)
   Investing Activities
$
251

 
$
20

 
$
(154
)
 
$
(511
)
 
$
(394
)
 
 
Net Cash Provided By (Used In)
   Financing Activities
$
(328
)
 
$
(395
)
 
$
68

 
$
476

 
$
(179
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Power
 
Guarantor
Subsidiaries
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Total
 
 
 
Millions
 
 
As of March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Current Assets
$
4,168

 
$
1,392

 
$
189

 
$
(4,631
)
 
$
1,118

 
 
Property, Plant and Equipment, net
55

 
5,094

 
3,540

 
—

 
8,689

 
 
Investment in Subsidiaries
5,089

 
1,115

 
—

 
(6,204
)
 
—

 
 
Noncurrent Assets
90

 
2,295

 
109

 
(38
)
 
2,456

 
 
Total Assets
$
9,402

 
$
9,896

 
$
3,838

 
$
(10,873
)
 
$
12,263

 
 
Current Liabilities
$
548

 
$
3,234

 
$
1,874

 
$
(4,631
)
 
$
1,025

 
 
Noncurrent Liabilities
521

 
1,961

 
461

 
(38
)
 
2,905

 
 
Long-Term Debt
2,137

 
—

 
—

 
—

 
2,137

 
 
Member’s Equity
6,196

 
4,701

 
1,503

 
(6,204
)
 
6,196

 
 
Total Liabilities and Member’s Equity
$
9,402

 
$
9,896

 
$
3,838

 
$
(10,873
)
 
$
12,263

 
 
As of December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Current Assets
$
4,327

 
$
1,500

 
$
200

 
$
(4,686
)
 
$
1,341

 
 
Property, Plant and Equipment, net
54

 
5,778

 
2,764

 
—

 
8,596

 
 
Investment in Subsidiaries
4,844

 
404

 
—

 
(5,248
)
 
—

 
 
Noncurrent Assets
100

 
2,349

 
110

 
(78
)
 
2,481

 
 
Total Assets
$
9,325

 
$
10,031

 
$
3,074

 
$
(10,012
)
 
$
12,418

 
 
Current Liabilities
$
689

 
$
3,586

 
$
1,846

 
$
(4,686
)
 
$
1,435

 
 
Noncurrent Liabilities
533

 
1,966

 
459

 
(78
)
 
2,880

 
 
Long-Term Debt
2,136

 
—

 
—

 
—

 
2,136

 
 
Member’s Equity
5,967

 
4,479

 
769

 
(5,248
)
 
5,967

 
 
Total Liabilities and Member’s Equity
$
9,325

 
$
10,031

 
$
3,074

 
$
(10,012
)
 
$
12,418

 
 
 
 
 
 
 
 
 
 
 
 
 
Power [Member]  
Debt Instrument [Line Items]  
Guarantees of Debt
Guarantees of Debt
Power’s Senior Notes are fully and unconditionally and jointly and severally guaranteed by its subsidiaries, PSEG Fossil LLC, PSEG Nuclear LLC and PSEG Energy Resources & Trade LLC. The following tables present condensed financial information for the guarantor subsidiaries, as well as Power’s non-guarantor subsidiaries, as of March 31, 2018 and December 31, 2017 and for the three months ended March 31, 2018 and 2017.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Power
 
Guarantor
Subsidiaries
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Total
 
 
 
Millions
 
 
Three Months Ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
$
—

 
$
1,386

 
$
51

 
$
(34
)
 
$
1,403

 
 
Operating Expenses
—

 
1,056

 
52

 
(34
)
 
1,074

 
 
Operating Income (Loss)
—

 
330

 
(1
)
 
—

 
329

 
 
Equity Earnings (Losses) of Subsidiaries
234

 
(3
)
 
2

 
(231
)
 
2

 
 
Net Gains (Losses) on Trust Investments
—

 
(22
)
 
—

 
—

 
(22
)
 
 
Other Income (Deductions)
35

 
33

 
—

 
(57
)
 
11

 
 
Non-Operating Pension and OPEB Credits (Costs)
—

 
4

 
—

 
—

 
4

 
 
Interest Expense
(42
)
 
(17
)
 
(5
)
 
57

 
(7
)
 
 
Income Tax Benefit (Expense)
7

 
(92
)
 
2

 
—

 
(83
)
 
 
Net Income (Loss)
$
234

 
$
233

 
$
(2
)
 
$
(231
)
 
$
234

 
 
Comprehensive Income (Loss)
$
229

 
$
223

 
$
(2
)
 
$
(221
)
 
$
229

 
 
Three Months Ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Net Cash Provided By (Used In)
   Operating Activities
$
(5
)
 
$
525

 
$
(49
)
 
$
71

 
$
542

 
 
Net Cash Provided By (Used In)
   Investing Activities
$
(215
)
 
$
(625
)
 
$
(82
)
 
$
605

 
$
(317
)
 
 
Net Cash Provided By (Used In)
   Financing Activities
$
220

 
$
100

 
$
111

 
$
(677
)
 
$
(246
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Power
 
Guarantor
Subsidiaries
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Total
 
 
 
Millions
 
 
Three Months Ended March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
$
—

 
$
1,255

 
$
52

 
$
(38
)
 
$
1,269

 
 
Operating Expenses
4

 
1,556

 
52

 
(38
)
 
1,574

 
 
Operating Income (Loss)
(4
)
 
(301
)
 
—

 
—

 
(305
)
 
 
Equity Earnings (Losses) of Subsidiaries
(161
)
 
(1
)
 
3

 
162

 
3

 
 
 Net Gains (Losses) on Trust Investments
4

 
15

 
—

 
—

 
19

 
 
Other Income (Deductions)
20

 
19

 
—

 
(28
)
 
11

 
 
Non-Operating Pension and OPEB Credits (Costs)
—

 
2

 
—

 
—

 
2

 
 
Interest Expense
(30
)
 
(9
)
 
(5
)
 
28

 
(16
)
 
 
Income Tax Benefit (Expense)
1

 
111

 
4

 
—

 
116

 
 
Net Income (Loss)
$
(170
)
 
$
(164
)
 
$
2

 
$
162

 
$
(170
)
 
 
Comprehensive Income (Loss)
$
(146
)
 
$
(143
)
 
$
2

 
$
141

 
$
(146
)
 
 
Three Months Ended March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Net Cash Provided By (Used In)
   Operating Activities
$
77

 
$
377

 
$
91

 
$
35

 
$
580

 
 
Net Cash Provided By (Used In)
   Investing Activities
$
251

 
$
20

 
$
(154
)
 
$
(511
)
 
$
(394
)
 
 
Net Cash Provided By (Used In)
   Financing Activities
$
(328
)
 
$
(395
)
 
$
68

 
$
476

 
$
(179
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Power
 
Guarantor
Subsidiaries
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Total
 
 
 
Millions
 
 
As of March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Current Assets
$
4,168

 
$
1,392

 
$
189

 
$
(4,631
)
 
$
1,118

 
 
Property, Plant and Equipment, net
55

 
5,094

 
3,540

 
—

 
8,689

 
 
Investment in Subsidiaries
5,089

 
1,115

 
—

 
(6,204
)
 
—

 
 
Noncurrent Assets
90

 
2,295

 
109

 
(38
)
 
2,456

 
 
Total Assets
$
9,402

 
$
9,896

 
$
3,838

 
$
(10,873
)
 
$
12,263

 
 
Current Liabilities
$
548

 
$
3,234

 
$
1,874

 
$
(4,631
)
 
$
1,025

 
 
Noncurrent Liabilities
521

 
1,961

 
461

 
(38
)
 
2,905

 
 
Long-Term Debt
2,137

 
—

 
—

 
—

 
2,137

 
 
Member’s Equity
6,196

 
4,701

 
1,503

 
(6,204
)
 
6,196

 
 
Total Liabilities and Member’s Equity
$
9,402

 
$
9,896

 
$
3,838

 
$
(10,873
)
 
$
12,263

 
 
As of December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Current Assets
$
4,327

 
$
1,500

 
$
200

 
$
(4,686
)
 
$
1,341

 
 
Property, Plant and Equipment, net
54

 
5,778

 
2,764

 
—

 
8,596

 
 
Investment in Subsidiaries
4,844

 
404

 
—

 
(5,248
)
 
—

 
 
Noncurrent Assets
100

 
2,349

 
110

 
(78
)
 
2,481

 
 
Total Assets
$
9,325

 
$
10,031

 
$
3,074

 
$
(10,012
)
 
$
12,418

 
 
Current Liabilities
$
689

 
$
3,586

 
$
1,846

 
$
(4,686
)
 
$
1,435

 
 
Noncurrent Liabilities
533

 
1,966

 
459

 
(78
)
 
2,880

 
 
Long-Term Debt
2,136

 
—

 
—

 
—

 
2,136

 
 
Member’s Equity
5,967

 
4,479

 
769

 
(5,248
)
 
5,967

 
 
Total Liabilities and Member’s Equity
$
9,325

 
$
10,031

 
$
3,074

 
$
(10,012
)
 
$
12,418