Item 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
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Item 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
(A) The following Financial Statements are filed as a part of this report:
a.Public Service Enterprise Group Incorporated’s Consolidated Balance Sheets as of December 31, 2021 and 2020 and the related Consolidated Statements of Operations, Comprehensive Income, Cash Flows and Stockholders’ Equity for the three years ended December 31, 2021 on pages 70 through 75.
b.Public Service Electric and Gas Company’s Consolidated Balance Sheets as of December 31, 2021 and 2020 and the related Consolidated Statements of Operations, Comprehensive Income, Cash Flows and Common Stockholder’s Equity for the three years ended December 31, 2021 on pages 76 through 81.
(B) The following documents are filed as a part of this report:
a.PSEG’s Financial Statement Schedules:
Schedule II—Valuation and Qualifying Accounts for each of the three years in the period ended December 31, 2021 (page 175).
b.PSE&G’s Financial Statement Schedules:
Schedule II—Valuation and Qualifying Accounts for each of the three years in the period ended December 31, 2021 (page 175).
Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the consolidated financial statements or notes thereto.
(C) The following documents are filed as part of this report:
| LIST OF EXHIBITS: | ||||||||
| 101.INS | Inline XBRL Instance Document - The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document | |||||||
| 101.SCH | Inline XBRL Taxonomy Extension Schema | |||||||
| 101.CAL | Inline XBRL Taxonomy Calculation Linkbase | |||||||
| 101.LAB | Inline XBRL Taxonomy Extension Labels Linkbase | |||||||
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase | |||||||
| 101.DEF | Inline XBRL Taxonomy Extension Definition Document | |||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
(1)Filed as Exhibit 3.1a with Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, File No. 001-09120, on May 4, 2007 and incorporated herein by this reference.
(2)Filed as Exhibit 3.1b with Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, File No. 001-09120, on May 4, 2007 and incorporated herein by this reference.
(3)Filed as Exhibit 3.1c with Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, File No. 001-09120, on May 4, 2007 and incorporated herein by this reference.
(4)Filed as Exhibit 99.1 with Current Report on Form 8-K, File No. 001-09120, on December 16, 2015 and incorporated herein by this reference.
(5)Filed as Exhibit 4(f) with Quarterly Report on Form 10-Q for the quarter ended March 31, 1998, File No. 001-09120, on May 13, 1998 and incorporated herein by this reference.
(6)Filed as Exhibit 4(f) with Annual Report on Form 10-K for the year ended December 31, 1998, File No. 001-09120, on February 23, 1999 and incorporated herein by this reference
(7)Filed as Exhibit 4c for PSEG with Annual Report on Form 10-K for the year ended December 31, 2019. File No. 001-09120, on February 26, 2020 and incorporated herein by this reference.
(8)Filed as Exhibit 10.1 with Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, File No. 001-09120, on October 31, 2019 and incorporated herein by this reference.
(9)Filed as Exhibit 10.2 with Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, File No. 001-09120, on October 31, 2019 and incorporated herein by this reference.
(10)Filed as Exhibit 10a(3) with Annual Report on Form 10-K for the year ended December 31, 2020, File No. 001-09120, on March 1, 2021 and incorporated herein by this reference.
(11)Filed as Exhibit 10a(4) with Annual Report on Form 10-K for the year ended December 31, 2018, File No. 001-09120 on February 27, 2019 and incorporated herein by this reference.
(12)Filed as Exhibit 10a(5) with Annual Report on Form 10-K for the year ended December 31, 2018, File No. 001-09120 on February 27, 2019 and incorporated herein by this reference.
(13)Filed as Exhibit 10a(11) with Annual Report on Form 10-K for the year ended December 31, 2008, File No. 001-09120, on February 26, 2009 and incorporated herein by this reference.
(14)Filed as Exhibit 10(1) with Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, File No. 001-09120, on August 9, 2021 and incorporated herein by this reference.
(15)Filed as Exhibit 99 with Current Report on Form 8-K, File Nos. 001-09120, on December 22, 2008 and incorporated herein by this reference.
(16)Filed as Exhibit 10a(17) with Annual Report on Form 10-K for the year ended December 31, 2002, File No. 001-09120, on February 26, 2003 and incorporated herein by this reference.
(17)Filed as Exhibit 10a(20) with Annual Report on Form 10-K for the year ended December 31, 2002, File No. 001-09120, on February 26, 2003 and incorporated herein by this reference.
(18)Filed as Exhibit 10 with Quarterly Report on Form 10-Q for the quarter ended March 31, 2013, File No. 001-09120, on May 1, 2013 and incorporated herein by this reference.
(19)Filed as Exhibit 10.1 with Current Report on Form 8-K, File No. 001-09120, on February 19, 2009 and incorporated herein by this reference.
(20)Filed as Exhibit 10 with Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, File No. 001-09120, on November 2, 2021 and incorporated herein by this reference.
(21)Filed as Exhibit 10a with Annual Report on Form 10-K for the year ended December 31, 2014, File No. 001-09120, on February 26, 2015, and incorporated herein by this reference.
(22)Filed as Exhibit 10 with Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, File No. 001-09120, on October 30, 2015, and incorporated herein by this reference.
(23)Filed as Exhibit 10a(20) with Annual Report on Form 10-K for the year ended December 31, 2017, File No. 001-09120 on February 26, 2018 and incorporated herein by this reference.
(24)Filed as Exhibit 10a(19) with Annual Report on Form 10-K for the year ended December 31, 2019, File No. 001-09120, on February 26, 2020 and incorporated herein by this reference.
(25)Filed as Exhibit 99.1 with Current Report on Form 8-K, File No. 001-09120, on April 22, 2021 and incorporated herein by this reference.
(26)Filed as Exhibit 4.6 to Registration Statement on Form S-8, File No. 001-09120, on April 23, 2021 and incorporated herein by this reference.
(27)Filed as Exhibit 10(4) with Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, File No. 001-09120, on August 9, 2021 and incorporated herein by this reference.
(28)Filed as Exhibit 3a(1) on Form 8-A, File No. 001-00973, on February 4, 1994 and incorporated herein by this reference.
(29)Filed as Exhibit 3a(2) on Form 8-A, File No. 001-00973, on February 4, 1994 and incorporated herein by this reference.
(30)Filed as Exhibit 3a(3) on Form 8-A, File No. 001-00973, on February 4, 1994 and incorporated herein by this reference.
(31)Filed as Exhibit 3a(4) on Form 8-A, File No. 001-00973, on February 4, 1994 and incorporated herein by this reference.
(32)Filed as Exhibit 3a(5) on Form 8-A, File No. 001-00973, on February 4, 1994 and incorporated herein by this reference.
(33)Filed as Exhibit 3.3 with Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, File No. 001-00973, on May 4, 2007 and incorporated herein by this reference.
(34)Filed as Exhibit 4b(1) with Annual Report on Form 10-K for the year ended December 31, 1980, File No. 001-00973, on February 18, 1981 and incorporated herein by this reference.
(35)Filed as Exhibit 4b(3) with Annual Report on Form 10-K for the year ended December 31, 1980, File No. 001-00973, on February 18, 1981 and incorporated herein by this reference.
(36)Filed as Exhibit 4b(4) with Annual Report on Form 10-K for the year ended December 31, 1980, File No. 001-00973, on February 18, 1981 and incorporated herein by this reference.
(37)Filed as Exhibit 4(i) on Form 8-A, File No. 001-00973, on June 1, 1991 and incorporated herein by this reference.
(38)Filed as Exhibit 4a(28) with Annual Report on Form 10-K for the year ended December 31, 2004, File No. 001-00973, on March 1, 2005 and incorporated herein by this reference.
(39)Filed as Exhibit 4a(28) with Annual Report on Form 10-K for the year ended December 31, 2007, File No. 001-00973, on February 28, 2008 and incorporated herein by this reference.
(40)Filed as Exhibit 4a(30) with Annual Report on Form 10-K for the year ended December 31, 2009, File No. 001-00973, on February 25, 2010 and incorporated herein by this reference.
(41)Filed as Exhibit 4a(32) with Annual Report on Form 10-K for the year ended December 31, 2012, File No. 001-00973, on February 26, 2013, and incorporated herein by this reference.
(42)Filed as Exhibit 4 with Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, File No. 001-00973, on July 30, 2013, and incorporated herein by this reference.
(43)Filed as Exhibit 4a(22) with Quarterly Report on Form 10-Q for the quarter ended September 30, 2014, File No. 001-09120, on October 30, 2014 and incorporated herein by this reference.
(44)Filed as Exhibit 4a(23) with Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, File No. 001-09120, on July 31, 2015 and incorporated herein by this reference.
(45)Filed as Exhibit 4a(14) with Annual Report on Form 10-K for the year ended December 31, 2016, File No. 001-00973, on February 27, 2017 and incorporated herein by this reference.
(46)Filed as Exhibit 4a(15) with Quarterly Report on Form 10-Q for the quarter ended March 31, 2018, File No. 001-00973, on April 30, 2018 and incorporated herein by this reference.
(47)Filed as Exhibit 4a(15) with Annual Report on Form 10-K for the year ended December 31, 2019, File No. 001-09120, on February 26, 2020 and incorporated herein by this reference.
(48)Filed as Exhibit 4b with Annual Report on Form 10-K for the year ended December 31, 2019, File No. 001-09120, on February 26, 2020 and incorporated herein by the reference.
(49)Filed as Exhibit 4 with Current Report on Form 8-K, File No. 001-00973, on December 1, 1993 and incorporated herein by this reference.
(50)Filed as Exhibit 4-6 to Registration Statement on Form S-3, File No. 333-76020, filed on December 27, 2001 and incorporated herein by this reference.
(51)Filed as Exhibit 10.2 with Current Report on Form 8-K, File No. 001-00973, on February 19, 2009 and incorporated herein by this reference.
Schedule II—Valuation and Qualifying Accounts Years Ended December 31, 2021—December 31, 2019
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED
| Column A | Column B | Column C Additions | Column D | Column E | |||||||||||||||||||||||||||||||||||||||||||
| Description | Balance at Beginning of Period | Charged to cost and expenses | Charged to other accounts- describe | Deductions- describe | Balance at End of Period | ||||||||||||||||||||||||||||||||||||||||||
| Millions | |||||||||||||||||||||||||||||||||||||||||||||||
| 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Credit Losses | $ | 206 | $ | 195 | (A) | $ | — | $ | 64 | (B) | $ | 337 | |||||||||||||||||||||||||||||||||||
| Materials and Supplies Valuation Reserve | 10 | 3 | — | 1 | (C) | 12 | |||||||||||||||||||||||||||||||||||||||||
| 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Credit Losses | $ | 68 | (D) | $ | 175 | (A) | $ | — | $ | 37 | (B) | $ | 206 | ||||||||||||||||||||||||||||||||||
| Materials and Supplies Valuation Reserve | 11 | 1 | — | 2 | (C) | 10 | |||||||||||||||||||||||||||||||||||||||||
| 2019 | |||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Credit Losses | $ | 63 | $ | 87 | (A) | $ | — | $ | 90 | (B) | $ | 60 | |||||||||||||||||||||||||||||||||||
| Materials and Supplies Valuation Reserve | 9 | 3 | — | 1 | (C) | 11 | |||||||||||||||||||||||||||||||||||||||||
(A)For a discussion of bad debt recoveries, see Note 1. Organization, Basis of Presentation and Summary of Significant Accounting Policies.
(B)Accounts Receivable written off.
(C)Reduce reserve to appropriate level and to remove obsolete inventory.
(D)Includes $8 million due to the adoption of ASU 2016-13.
PUBLIC SERVICE ELECTRIC AND GAS COMPANY
| Column A | Column B | Column C Additions | Column D | Column E | |||||||||||||||||||||||||||||||||||||||||||
| Description | Balance at Beginning of Period | Charged to cost and expenses | Charged to other accounts- describe | Deductions- describe | Balance at End of Period | ||||||||||||||||||||||||||||||||||||||||||
| Millions | |||||||||||||||||||||||||||||||||||||||||||||||
| 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Credit Losses | $ | 206 | $ | 195 | (A) | $ | — | $ | 64 | (B) | $ | 337 | |||||||||||||||||||||||||||||||||||
| Materials and Supplies Valuation Reserve | 2 | 2 | — | 1 | (C) | 3 | |||||||||||||||||||||||||||||||||||||||||
| 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Credit Losses | $ | 68 | (D) | $ | 175 | (A) | $ | — | $ | 37 | (B) | $ | 206 | ||||||||||||||||||||||||||||||||||
| Materials and Supplies Valuation Reserve | 2 | — | — | — | 2 | ||||||||||||||||||||||||||||||||||||||||||
| 2019 | |||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Credit Losses | $ | 63 | $ | 87 | (A) | $ | — | $ | 90 | (B) | $ | 60 | |||||||||||||||||||||||||||||||||||
| Materials and Supplies Valuation Reserve | 2 | — | — | — | 2 | ||||||||||||||||||||||||||||||||||||||||||
(A)For a discussion of bad debt recoveries, see Note 1. Organization, Basis of Presentation and Summary of Significant Accounting Policies.
(B)Accounts Receivable written off.
(C)Reduce reserve to appropriate level and to remove obsolete inventory.
(D)Includes $8 million due to the adoption of ASU 2016-13.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. The signature of the undersigned company shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
| P****UBLIC S****ERVICE E****NTERPRISE G****ROUP I****NCORPORATED | |||||||||||
| By: | /s/ RALPH IZZO | ||||||||||
| Ralph Izzo | |||||||||||
| Chairman of the Board, President and | |||||||||||
| Chief Executive Officer |
Date: February 24, 2022
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. The signatures of the undersigned shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
| Signature | Title | Date | ||||||||||||
| /s/ RALPH IZZO | Chairman of the Board, President, Chief Executive Officer and | February 24, 2022 | ||||||||||||
| Ralph Izzo | Director (Principal Executive Officer) | |||||||||||||
| /s/ DANIEL J. CREGG | Executive Vice President and Chief Financial Officer | February 24, 2022 | ||||||||||||
| Daniel J. Cregg | (Principal Financial Officer) | |||||||||||||
| /s/ ROSE M. CHERNICK | Vice President and Controller | February 24, 2022 | ||||||||||||
| Rose M. Chernick | (Principal Accounting Officer) | |||||||||||||
| /s/ WILLIE A. DEESE | Director | February 24, 2022 | ||||||||||||
| Willie A. Deese | ||||||||||||||
| /s/ SHIRLEY ANN JACKSON | Director | February 24, 2022 | ||||||||||||
| Shirley Ann Jackson | ||||||||||||||
| /s/ DAVID LILLEY | Director | February 24, 2022 | ||||||||||||
| David Lilley | ||||||||||||||
| /s/ BARRY H. OSTROWSKY | Director | February 24, 2022 | ||||||||||||
| Barry H. Ostrowsky | ||||||||||||||
| /s/ SCOTT G. STEPHENSON | Director | February 24, 2022 | ||||||||||||
| Scott G. Stephenson | ||||||||||||||
| /s/ LAURA A. SUGG | Director | February 24, 2022 | ||||||||||||
| Laura A. Sugg | ||||||||||||||
| /s/ JOHN P. SURMA | Director | February 24, 2022 | ||||||||||||
| John P. Surma | ||||||||||||||
| /s/ SUSAN TOMASKY | Director | February 24, 2022 | ||||||||||||
| Susan Tomasky | ||||||||||||||
| /s/ ALFRED W. ZOLLAR | Director | February 24, 2022 | ||||||||||||
| Alfred W. Zollar | ||||||||||||||
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. The signature of the undersigned company shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
| P****UBLIC S****ERVICE E****LECTRIC AND G****AS C****OMPANY | |||||||||||
| By: | /s/ KIM C. HANEMANN | ||||||||||
| Kim C. Hanemann | |||||||||||
| President |
Date: February 24, 2022
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. The signatures of the undersigned shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
| Signature | Title | Date | ||||||||||||
| /s/ RALPH IZZO | Chairman of the Board and Chief Executive Officer and | February 24, 2022 | ||||||||||||
| Ralph Izzo | Director (Principal Executive Officer) | |||||||||||||
| /s/ DANIEL J. CREGG | Executive Vice President and Chief Financial Officer | February 24, 2022 | ||||||||||||
| Daniel J. Cregg | (Principal Financial Officer) | |||||||||||||
| /s/ ROSE M. CHERNICK | Vice President and Controller | February 24, 2022 | ||||||||||||
| Rose M. Chernick | (Principal Accounting Officer) | |||||||||||||
| /s/ DAVID LILLEY | Director | February 24, 2022 | ||||||||||||
| David Lilley | ||||||||||||||
| /s/ SHIRLEY ANN JACKSON | Director | February 24, 2022 | ||||||||||||
| Shirley Ann Jackson | ||||||||||||||
| /s/ SUSAN TOMASKY | Director | February 24, 2022 | ||||||||||||
| Susan Tomasky | ||||||||||||||
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