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, 2023 and 2022 and the related Consolidated Statements of Operations, Comprehensive Income, Cash Flows and Stockholders’ Equity for the three years ended December 31, 2023 on pages 60 through 65.
b.Public Service Electric and Gas Company’s Consolidated Balance Sheets as of December 31, 2023 and 2022 and the related Consolidated Statements of Operations, Comprehensive Income, Cash Flows and Common Stockholder’s Equity for the three years ended December 31, 2023 on pages 66 through 71.
(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, 2023 (page 157).
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, 2023 (page 157).
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: | ||||||||
| 31b | Certification by Ralph A. LaRossa, pursuant to Rules 13a-14 and 15d-14 of the 1934 Act | |||||||
| 31c | Certification by Daniel J. Cregg, pursuant to Rules 13a-14 and 15d-14 of the 1934 Act | |||||||
| 32b | Certification by Ralph A. LaRossa, pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code | |||||||
| 32c | Certification by Daniel J. Cregg, pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code | |||||||
| 97 | Clawback Practice for Recovery of Erroneously Awarded Compensation to Executive Officers | |||||||
| 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 3.1 with Current Report on Form 8-K, File No. 001-09120, on February 17, 2023 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 10.1 with Current Report on Form 8-K, File No. 001-09120, on July 22, 2022 and incorporated herein by this reference.
(13)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.
(14)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.
(15)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.
(16)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.
(17)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.
(18)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.
(19)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.
(20)Filed as Exhibit 10.2 with Current Report on Form 8-K, File No. 001-09120, on April 19, 2022 and incorporated herein by this reference.
(21)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.
(22)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.
(23)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.
(24)Filed as Exhibit 10.1 with Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, File No. 001-09120, and incorporated herein by reference.
(25)Filed as Exhibit 10.3 with Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, File No. 001-09120, and incorporated herein by reference.
(26)Filed as Exhibit 3a(1) on Form 8-A, File No. 001-00973, on February 4, 1994 and incorporated herein by this reference.
(27)Filed as Exhibit 3a(2) on Form 8-A, File No. 001-00973, on February 4, 1994 and incorporated herein by this reference.
(28)Filed as Exhibit 3a(3) on Form 8-A, File No. 001-00973, on February 4, 1994 and incorporated herein by this reference.
(29)Filed as Exhibit 3a(4) on Form 8-A, File No. 001-00973, on February 4, 1994 and incorporated herein by this reference.
(30)Filed as Exhibit 3a(5) on Form 8-A, File No. 001-00973, on February 4, 1994 and incorporated herein by this reference.
(31)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.
(32)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.
(33)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.
(34)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.
(35)Filed as Exhibit 4(i) on Form 8-A, File No. 001-00973, on June 1, 1991 and incorporated herein by this reference.
(36)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.
(37)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.
(38)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.
(39)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.
(40)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.
(41)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.
(42)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.
(43)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.
(44)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.
(45)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.
(46)Filed as Exhibit 4a(15) with Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, File No. 001-09120, on May 3, 2022 and incorporated herein by reference.
(47)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.
(48)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.
(49)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.
(50)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, 2023—December 31, 2021
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 | |||||||||||||||||||||||||||||||||||||||||||||||
| 2023 | |||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Credit Losses | $ | 339 | $ | 100 | (A) | $ | — | $ | 156 | (B) | $ | 283 | |||||||||||||||||||||||||||||||||||
| Materials and Supplies Valuation Reserve | 10 | 4 | — | — | 14 | ||||||||||||||||||||||||||||||||||||||||||
| 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Credit Losses | $ | 337 | $ | 114 | (A) | $ | — | $ | 112 | (B) | $ | 339 | |||||||||||||||||||||||||||||||||||
| Materials and Supplies Valuation Reserve | 12 | 1 | — | 3 | (C) | 10 | |||||||||||||||||||||||||||||||||||||||||
| 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Credit Losses | $ | 206 | $ | 195 | (A) | $ | — | $ | 64 | (B) | $ | 337 | |||||||||||||||||||||||||||||||||||
| Materials and Supplies Valuation Reserve | 10 | 3 | — | 1 | (C) | 12 | |||||||||||||||||||||||||||||||||||||||||
(A)For a discussion of bad debt recoveries, see Item 8. Note 1. Organization, Basis of Presentation and Summary of Significant Accounting Policies.
(B)Accounts Receivable written off.
(C)Reserve reduced to appropriate level as a result of asset dispositions and to remove obsolete inventory.
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 | |||||||||||||||||||||||||||||||||||||||||||||||
| 2023 | |||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Credit Losses | $ | 339 | $ | 100 | (A) | $ | — | $ | 156 | (B) | $ | 283 | |||||||||||||||||||||||||||||||||||
| Materials and Supplies Valuation Reserve | 4 | 3 | — | — | 7 | ||||||||||||||||||||||||||||||||||||||||||
| 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Credit Losses | $ | 337 | $ | 114 | (A) | $ | — | $ | 112 | (B) | $ | 339 | |||||||||||||||||||||||||||||||||||
| Materials and Supplies Valuation Reserve | 3 | 1 | — | — | 4 | ||||||||||||||||||||||||||||||||||||||||||
| 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Credit Losses | $ | 206 | $ | 195 | (A) | $ | — | $ | 64 | (B) | $ | 337 | |||||||||||||||||||||||||||||||||||
| Materials and Supplies Valuation Reserve | 2 | 2 | — | 1 | (C) | 3 | |||||||||||||||||||||||||||||||||||||||||
(A)For a discussion of bad debt recoveries, see Item 8. Note 1. Organization, Basis of Presentation and Summary of Significant Accounting Policies.
(B)Accounts Receivable written off.
(C)Reserve reduced to appropriate level and to remove obsolete inventory.
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 A. LAROSSA | ||||||||||
| Ralph A. LaRossa | |||||||||||
| Chair of the Board, President and | |||||||||||
| Chief Executive Officer |
Date: February 26, 2024
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 A. LAROSSA | Chair of the Board, President, Chief Executive Officer and | February 26, 2024 | ||||||||||||
| Ralph A. LaRossa | Director (Principal Executive Officer) | |||||||||||||
| /s/ DANIEL J. CREGG | Executive Vice President and Chief Financial Officer | February 26, 2024 | ||||||||||||
| Daniel J. Cregg | (Principal Financial Officer) | |||||||||||||
| /s/ ROSE M. CHERNICK | Vice President and Controller | February 26, 2024 | ||||||||||||
| Rose M. Chernick | (Principal Accounting Officer) | |||||||||||||
| /s/ WILLIE A. DEESE | Director | February 26, 2024 | ||||||||||||
| Willie A. Deese | ||||||||||||||
| /s/ JAMIE M. GENTOSO | Director | February 26, 2024 | ||||||||||||
| Jamie M. Gentoso | ||||||||||||||
| /s/ BARRY H. OSTROWSKY | Director | February 26, 2024 | ||||||||||||
| Barry H. Ostrowsky | ||||||||||||||
| /s/ RICARDO G. PÉREZ | Director | February 26, 2024 | ||||||||||||
| Ricardo G. Pérez | ||||||||||||||
| /s/ VALERIE A. SMITH | Director | February 26, 2024 | ||||||||||||
| Valerie A. Smith | ||||||||||||||
| /s/ SCOTT G. STEPHENSON | Director | February 26, 2024 | ||||||||||||
| Scott G. Stephenson | ||||||||||||||
| /s/ LAURA A. SUGG | Director | February 26, 2024 | ||||||||||||
| Laura A. Sugg | ||||||||||||||
| /s/ JOHN P. SURMA | Director | February 26, 2024 | ||||||||||||
| John P. Surma | ||||||||||||||
| /s/ KENNETH Y. TANJI | Director | February 26, 2024 | ||||||||||||
| Kenneth Y. Tanji | ||||||||||||||
| /s/ SUSAN TOMASKY | Director | February 26, 2024 | ||||||||||||
| Susan Tomasky | ||||||||||||||
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 26, 2024
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 A. LAROSSA | Chair of the Board and Chief Executive Officer and | February 26, 2024 | ||||||||||||
| Ralph A. LaRossa | Director (Principal Executive Officer) | |||||||||||||
| /s/ DANIEL J. CREGG | Executive Vice President and Chief Financial Officer | February 26, 2024 | ||||||||||||
| Daniel J. Cregg | (Principal Financial Officer) | |||||||||||||
| /s/ ROSE M. CHERNICK | Vice President and Controller | February 26, 2024 | ||||||||||||
| Rose M. Chernick | (Principal Accounting Officer) | |||||||||||||
| /s/ WILLIE A. DEESE | Director | February 26, 2024 | ||||||||||||
| Willie A. Deese | ||||||||||||||
| /s/ BARRY H. OSTROWSKY | Director | February 26, 2024 | ||||||||||||
| Barry H. Ostrowsky | ||||||||||||||
| /s/ SUSAN TOMASKY | Director | February 26, 2024 | ||||||||||||
| Susan Tomasky | ||||||||||||||
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