PUBLIC SERVICE ENTERPRISE GROUP INC

For the period ended Dec 31, 2024. Filed Feb 25, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 25, 2025

PEG$75.03+3.3%Stored close · as of Nov 9, 2026

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Contents

	Page
FORWARD-LOOKING STATEMENTS	iii
FILING FORMAT		1
WHERE TO FIND MORE INFORMATION		1
PART I
Item 1.	Business		1
	Operations and Strategy		2
	Competitive Environment		8
	Human Capital Management		9
	Regulatory Issues		10
	Environmental Matters		16
	Information About Our Executive Officers (PSEG)		18
Item 1A.	Risk Factors		19
Item 1B.	Unresolved Staff Comments		33
Item 1C.	Cybersecurity		34
Item 2.	Properties		37
Item 3.	Legal Proceedings		38
Item 4.	Mine Safety Disclosures		38
PART II
Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities		38
Item 6.	[Reserved]		39
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		40
	Executive Overview of 2024 and Future Outlook		40
	Results of Operations		46
	Liquidity and Capital Resources		51
	Capital Requirements		55
	Critical Accounting Estimates		57
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk		62
Item 8.	Financial Statements and Supplementary Data		63
	Report of Independent Registered Public Accounting Firm (PCAOB ID No. 34)		64
	Consolidated Financial Statements		68
Notes to Consolidated Financial Statements
	Note 1. Organization, Basis of Presentation and Summary of Significant Accounting Policies		80
	Note 2. Revenues		86
	Note 3. Asset Dispositions and Impairments		91
	Note 4. Variable Interest Entity (VIE)		91
	Note 5. Property, Plant and Equipment and Jointly-Owned Facilities		92
	Note 6. Regulatory Assets and Liabilities		93
	Note 7. Leases		98
	Note 8. Long-Term Investments		102
	Note 9. Financing Receivables		103
	Note 10. Trust Investments		104
	Note 11. Asset Retirement Obligations (AROs)		111
	Note 12. Pension, Other Postretirement Benefits (OPEB) and Savings Plans		112
	Note 13. Commitments and Contingent Liabilities		122
	Note 14. Debt and Credit Facilities		129
	Note 15. Schedule of Consolidated Capital Stock		133
	Note 16. Financial Risk Management Activities		134
	Note 17. Fair Value Measurements		138
	Note 18. Stock Based Compensation		141
	Note 19. Net Other Income (Deductions)		145
	Note 20. Income Taxes		146
	Note 21. Accumulated Other Comprehensive Income (Loss), Net of Tax		152
	Note 22. Earnings Per Share (EPS) and Dividends		154

TABLE OF CONTENTS(continued)

PART III
	Note 23. Financial Information by Business Segment	155
	Note 24. Related-Party Transactions	158
Item 9.	Changes In and Disagreements With Accountants on Accounting and Financial Disclosure	159
Item 9A.	Controls and Procedures	159
Item 9B.	Other Information	159
Item 9C.	Disclosure Regarding Foreign Jurisdictions that Prevent Inspections	159
Item 10.	Directors, Executive Officers and Corporate Governance	163
Item 11.	Executive Compensation	164
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	164
Item 13.	Certain Relationships and Related Transactions, and Director Independence	164
Item 14.	Principal Accountant Fees and Services	165
PART IV
Item 15.	Exhibits, Financial Statement Schedules	165
	Schedule II - Valuation and Qualifying Accounts	171
	Signatures	172

ContentsView on SEC.gov

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About this filing

Table of Contents