2021 Q4 Form 10-K Financial Statement

#000162828022003860 Filed on February 24, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $3.056B $9.722B $2.402B
YoY Change 27.23% 1.24% -3.07%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $28.00M
YoY Change -20.0%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $314.0M $1.403B $369.0M
YoY Change -14.91% -4.49% 2.22%
% of Gross Profit
Operating Expenses $2.132B $7.941B $1.970B
YoY Change 8.22% 8.29% -0.05%
Operating Profit -$856.0M
YoY Change -137.71%
Interest Expense -$43.00M $571.0M $40.00M
YoY Change -207.5% -4.83% -214.29%
% of Operating Profit
Other Income/Expense, Net $70.00M $98.00M $80.00M
YoY Change -12.5% -14.78% 26.98%
Pretax Income $631.0M -$1.089B $553.0M
YoY Change 14.1% -147.33% 3.36%
Income Tax $186.0M -$441.0M $122.0M
% Of Pretax Income 29.48% 22.06%
Net Earnings $445.0M -$648.0M $431.0M
YoY Change 3.25% -134.02% -1.37%
Net Earnings / Revenue 14.56% -6.67% 17.94%
Basic Earnings Per Share -$1.29
Diluted Earnings Per Share $882.9K -$1.29 $850.1K
COMMON SHARES
Basic Shares Outstanding 505.7M shares 504.0M shares 505.8M shares
Diluted Shares Outstanding 504.0M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $818.0M $818.0M $543.0M
YoY Change 50.64% 50.64% 269.39%
Cash & Equivalents $818.0M $818.0M $543.0M
Short-Term Investments
Other Short-Term Assets $44.00M $2.820B $27.00M
YoY Change 62.96% 283.15% -34.15%
Inventory $744.0M $744.0M $878.0M
Prepaid Expenses $63.00M $51.00M
Receivables $1.859B $1.859B $1.410B
Other Receivables $9.000M $9.000M $63.00M
Total Short-Term Assets $6.250B $6.250B $3.630B
YoY Change 72.18% 72.18% 12.35%
LONG-TERM ASSETS
Property, Plant & Equipment $34.57B $34.57B $37.85B
YoY Change -8.67% -8.67% 4.76%
Goodwill
YoY Change
Intangibles $20.00M $158.0M
YoY Change -87.34% 6.04%
Long-Term Investments $541.0M $541.0M $536.0M
YoY Change 0.93% 0.93% -33.99%
Other Assets $234.0M $6.746B $286.0M
YoY Change -18.18% -2.71% 0.0%
Total Long-Term Assets $42.75B $42.75B $8.835B
YoY Change 383.86% -7.91% 2.08%
TOTAL ASSETS
Total Short-Term Assets $6.250B $6.250B $3.630B
Total Long-Term Assets $42.75B $42.75B $8.835B
Total Assets $49.00B $49.00B $50.05B
YoY Change -2.1% -2.1% 4.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.315B $1.315B $1.332B
YoY Change -1.28% -1.28% -1.91%
Accrued Expenses $221.0M $221.0M $284.0M
YoY Change -22.18% -22.18% 49.47%
Deferred Revenue
YoY Change
Short-Term Debt $3.519B $3.519B $1.063B
YoY Change 231.04% 231.04% -4.66%
Long-Term Debt Due $700.0M $700.0M $1.684B
YoY Change -58.43% -58.43% 23.37%
Total Short-Term Liabilities $7.072B $7.072B $5.522B
YoY Change 28.07% 28.07% 9.41%
LONG-TERM LIABILITIES
Long-Term Debt $15.22B $15.22B $14.50B
YoY Change 4.99% 4.99% 5.48%
Other Long-Term Liabilities $184.0M $6.511B $214.0M
YoY Change -14.02% -13.72% -1.83%
Total Long-Term Liabilities $12.27B $21.73B $14.05B
YoY Change -12.66% -1.42% 1.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.072B $7.072B $5.522B
Total Long-Term Liabilities $12.27B $21.73B $14.05B
Total Liabilities $19.34B $34.56B $19.57B
YoY Change -1.17% 1.45% 3.56%
SHAREHOLDERS EQUITY
Retained Earnings $10.64B $12.32B
YoY Change -13.63% 8.0%
Common Stock $5.045B $5.031B
YoY Change 0.28% 0.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $896.0M $861.0M
YoY Change 4.07% 3.61%
Treasury Stock Shares 30.00M shares 30.00M shares
Shareholders Equity $14.44B $14.44B $15.98B
YoY Change
Total Liabilities & Shareholders Equity $49.00B $49.00B $50.05B
YoY Change -2.1% -2.1% 4.86%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $445.0M -$648.0M $431.0M
YoY Change 3.25% -134.02% -1.37%
Depreciation, Depletion And Amortization $314.0M $1.403B $369.0M
YoY Change -14.91% -4.49% 2.22%
Cash From Operating Activities $558.0M $1.736B $585.0M
YoY Change -4.62% -44.04% -12.69%
INVESTING ACTIVITIES
Capital Expenditures -$673.0M $2.719B -$831.0M
YoY Change -19.01% -6.98% 6.13%
Acquisitions
YoY Change
Other Investing Activities $12.00M -$107.0M $10.00M
YoY Change 20.0% 46.58% -433.33%
Cash From Investing Activities -$661.0M -$2.244B -$821.0M
YoY Change -19.49% -16.14% 4.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -894.0M $799.0M -191.0M
YoY Change 368.06% -2763.33% -240.44%
NET CHANGE
Cash From Operating Activities 558.0M $1.736B 585.0M
Cash From Investing Activities -661.0M -$2.244B -821.0M
Cash From Financing Activities -894.0M $799.0M -191.0M
Net Change In Cash -997.0M $291.0M -427.0M
YoY Change 133.49% -26.52% -2235.0%
FREE CASH FLOW
Cash From Operating Activities $558.0M $1.736B $585.0M
Capital Expenditures -$673.0M $2.719B -$831.0M
Free Cash Flow $1.231B -$983.0M $1.416B
YoY Change -13.06% -649.16% -2.55%

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CY2021 us-gaap Net Income Loss
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CY2021 us-gaap Other Comprehensive Income Loss Tax
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-51000000 USD
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
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154000000 USD
CY2021 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2021 us-gaap Common Stock Dividends Per Share Cash Paid
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2.04
CY2021 us-gaap Dividends Common Stock Cash
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1031000000 USD
CY2021 us-gaap Stockholders Equity Other
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21000000 USD
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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14438000000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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543000000 USD
CY2020Q4 us-gaap Restricted Cash And Investments Current
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7000000 USD
CY2020Q4 us-gaap Restricted Cash And Investments Noncurrent
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22000000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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572000000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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818000000 USD
CY2021Q4 us-gaap Restricted Cash And Investments Current
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28000000 USD
CY2021Q4 us-gaap Restricted Cash And Investments Noncurrent
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17000000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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863000000 USD
CY2021 us-gaap Use Of Estimates
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<div style="margin-top:4pt;text-indent:31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
CY2021 us-gaap Revenue From Contract With Customer Including Assessed Tax
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10315000000 USD
CY2021 pseg Revenues Unrelatedto Contractswith Customers
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CY2021 us-gaap Revenues
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CY2020 us-gaap Revenue From Contract With Customer Including Assessed Tax
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9099000000 USD
CY2020 pseg Revenues Unrelatedto Contractswith Customers
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504000000 USD
CY2020 us-gaap Revenues
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9603000000 USD
CY2019 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
9308000000 USD
CY2019 pseg Revenues Unrelatedto Contractswith Customers
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768000000 USD
CY2019 us-gaap Revenues
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10076000000 USD
CY2021 us-gaap Provision For Loan And Lease Losses
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9000000 USD
CY2020 us-gaap Provision For Loan And Lease Losses
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26000000 USD
CY2019 us-gaap Provision For Loan And Lease Losses
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58000000 USD
CY2021 pseg Zec Chargeperkwh
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0.004 USD
CY2021 pseg Zec Chargeper M Wh
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10 USD
CY2021 pseg Zec Chargeper M Wh
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10 USD
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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2691000000 USD
CY2021Q4 us-gaap Gains Losses On Extinguishment Of Debt
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298000000 USD
CY2021 us-gaap Severance Costs1
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13000000 USD
CY2021Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group
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2060000000 USD
CY2021Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
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144000000 USD
CY2021Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group
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2060000000 USD
CY2021Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
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144000000 USD
CY2021 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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122000000 USD
CY2020Q3 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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CY2021Q4 us-gaap Public Utilities Property Plant And Equipment Other Property Plant And Equipment
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501000000 USD
CY2020Q4 us-gaap Public Utilities Property Plant And Equipment Other Property Plant And Equipment
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1396000000 USD
CY2021Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
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43684000000 USD
CY2020Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
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48569000000 USD
CY2021 us-gaap Operating Lease Cost
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50000000 USD
CY2021 us-gaap Short Term Lease Cost
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42000000 USD
CY2021 us-gaap Variable Lease Cost
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20000000 USD
CY2021 us-gaap Lease Cost
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112000000 USD
CY2021 us-gaap Operating Lease Payments
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CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2020 us-gaap Operating Lease Cost
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54000000 USD
CY2020 us-gaap Short Term Lease Cost
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45000000 USD
CY2020 us-gaap Variable Lease Cost
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31000000 USD
CY2020 us-gaap Lease Cost
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130000000 USD
CY2020 us-gaap Operating Lease Payments
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45000000 USD
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P11Y
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.040
CY2019 us-gaap Operating Lease Cost
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52000000 USD
CY2019 us-gaap Short Term Lease Cost
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24000000 USD
CY2019 us-gaap Variable Lease Cost
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22000000 USD
CY2019 us-gaap Lease Cost
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CY2019 us-gaap Operating Lease Payments
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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40000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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32000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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26000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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25000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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23000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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123000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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269000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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45000000 USD
CY2021Q4 us-gaap Operating Lease Liability
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224000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
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366000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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80000000 USD
CY2020Q4 us-gaap Operating Lease Liability
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286000000 USD
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23000000 USD
CY2021 us-gaap Operating Leases Income Statement Contingent Revenue
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CY2021 us-gaap Operating Leases Income Statement Lease Revenue
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CY2020 us-gaap Operating Leases Income Statement Contingent Revenue
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CY2020 us-gaap Operating Leases Income Statement Lease Revenue
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CY2019 us-gaap Operating Leases Income Statement Lease Revenue
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45000000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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18000000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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19000000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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19000000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
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50000000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
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183000000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received
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307000000 USD
CY2021Q4 us-gaap Long Term Investments
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541000000 USD
CY2020Q4 us-gaap Long Term Investments
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CY2021 us-gaap Investments In And Advances To Affiliates Dividends Or Interest
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CY2020 us-gaap Investments In And Advances To Affiliates Dividends Or Interest
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CY2019 us-gaap Investments In And Advances To Affiliates Dividends Or Interest
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15000000 USD
CY2019 us-gaap Provision For Loan And Lease Losses
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58000000 USD
CY2021Q4 us-gaap Leveraged Leases Net Investment In Leveraged Leases Disclosure Rental Receivables Net
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274000000 USD
CY2020Q4 us-gaap Leveraged Leases Net Investment In Leveraged Leases Disclosure Rental Receivables Net
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299000000 USD
CY2021Q4 us-gaap Leveraged Leases Net Investment In Leveraged Leases Disclosure Residual Value Of Leased Assets
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0 USD
CY2020Q4 us-gaap Leveraged Leases Net Investment In Leveraged Leases Disclosure Residual Value Of Leased Assets
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55000000 USD
CY2021Q4 us-gaap Leveraged Leases Net Investment In Leveraged Leases Disclosure Rental Receivables Gross
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274000000 USD
CY2020Q4 us-gaap Leveraged Leases Net Investment In Leveraged Leases Disclosure Rental Receivables Gross
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354000000 USD
CY2021Q4 us-gaap Leveraged Leases Net Investment In Leveraged Leases Disclosure Deferred Income
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87000000 USD
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104000000 USD
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187000000 USD
CY2020Q4 pseg Leveraged Leases Net Investment In Leveraged Leases Disclosure Investment In Leveraged Leases Gross
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250000000 USD
CY2021Q4 us-gaap Leveraged Leases Net Investment In Leveraged Leases Disclosure Deferred Taxes Arising From Leveraged Leases
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42000000 USD
CY2020Q4 us-gaap Leveraged Leases Net Investment In Leveraged Leases Disclosure Deferred Taxes Arising From Leveraged Leases
LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureDeferredTaxesArisingFromLeveragedLeases
64000000 USD
CY2021Q4 us-gaap Leveraged Leases Net Investment In Leveraged Leases Disclosure Investment In Leveraged Leases Net
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145000000 USD
CY2020Q4 us-gaap Leveraged Leases Net Investment In Leveraged Leases Disclosure Investment In Leveraged Leases Net
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186000000 USD
CY2021 pseg Pre Tax Income Losses On Leases
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CY2020 pseg Pre Tax Income Losses On Leases
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18000000 USD
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CY2021 pseg Income Tax Expense Benefit On Income Loss From Leases
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CY2020 pseg Income Tax Expense Benefit On Income Loss From Leases
IncomeTaxExpenseBenefitOnIncomeLossFromLeases
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CY2019 pseg Income Tax Expense Benefit On Income Loss From Leases
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CY2021Q4 us-gaap Leveraged Leases Net Investment In Leveraged Leases Disclosure Investment In Leveraged Leases Net
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145000000 USD
CY2020Q4 us-gaap Leveraged Leases Net Investment In Leveraged Leases Disclosure Investment In Leveraged Leases Net
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186000000 USD
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
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158000000 USD
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
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158000000 USD
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98000000 USD
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63000000 USD
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20000000 USD
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CY2020Q4 us-gaap Asset Retirement Obligation
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CY2021 pseg Defined Benefit Plan Funded Status Of Plan Percentage
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CY2021Q4 pseg Rabbi Trust Assets Used To Fund Nonqualified Pension Plans
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CY2021Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
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7100000000 USD
CY2020Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
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7300000000 USD
CY2021Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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CY2020Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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CY2020Q4 pseg Net Receivables Excluded From Fair Value
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CY2020Q4 pseg Cash And Foreign Currency Excluded From Fair Value
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CY2020Q4 us-gaap Defined Benefit Plan Weighted Average Asset Allocations
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44000000 USD
CY2020 us-gaap Defined Contribution Plan Cost Recognized
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43000000 USD
CY2019 us-gaap Defined Contribution Plan Cost Recognized
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CY2021Q4 pseg Number Of Miles Pertaining To Passaic River Facility As Determined By Epa
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CY2021Q4 pseg Number Of Additional Legal Entities Contacted By Epa In Conjunction With Newark Bay Study Area Contamination
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11
CY2021Q4 pseg Number Of Cubic Feet In Gas Hedging Permitted To Be Recovered By Bpu
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CY2021Q4 pseg Number Of Cubic Feet To Be Hedged
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CY2021 pseg Maximum Aggregate Assessment Per Incident
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CY2021 pseg Maximum Aggregate Annual Assessment
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3200000000 USD
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700000000 USD
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1500000000 USD
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900000000 USD
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875000000 USD
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CY2021Q2 us-gaap Collateral Already Posted Aggregate Fair Value
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CY2021Q4 us-gaap Long Term Debt
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CY2021Q4 us-gaap Long Term Debt Fair Value
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CY2020Q4 us-gaap Long Term Debt
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CY2020Q4 us-gaap Long Term Debt Fair Value
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CY2021Q4 us-gaap Common Stock Shares Authorized
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CY2021Q4 us-gaap Common Stock Shares Outstanding
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CY2020Q4 us-gaap Common Stock Shares Outstanding
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CY2021Q4 us-gaap Common Stock Value Outstanding
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4149000000 USD
CY2020Q4 us-gaap Common Stock Value Outstanding
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4170000000 USD
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
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CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
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CY2021 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
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CY2021Q4 us-gaap Derivative Assets Current
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