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Midas Edge

PUBLIC SERVICE ELECTRIC & GAS CO

For the period ended Sep 30, 2025. Filed Nov 3, 2025.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 3, 2025

PEG$74.68-0.5%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Public Service Electric and Gas Company

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended · Nine Months Ended
September 30, · September 30,
2025 · 2024 · 2025 · 2024
OPERATING REVENUES$2,535$2,139$7,230$6,335
OPERATING EXPENSES
Energy Costs1,0138392,8672,450
Operation and Maintenance5434641,6231,395
Depreciation and Amortization277254832758
Total Operating Expenses1,8331,5575,3224,603
OPERATING INCOME7025821,9081,732
Net Other Income (Deductions)16184850
Net Non-Operating Pension and OPEB Credits (Costs)17205258
Interest Expense(162)(151)(480)(430)
INCOME BEFORE INCOME TAXES5734691,5281,410
Income Tax Expense(58)(90)(135)(241)
NET INCOME$515$379$1,393$1,169

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Three Months Ended · Nine Months Ended
September 30, · September 30,
2025 · 2024 · 2025 · 2024
NET INCOME$515$379$1,393$1,169
Unrealized Gains (Losses) on Available-for-Sale Securities, net of tax (expense) benefit of $0 for the three and nine months ended 2025 and 20241111
COMPREHENSIVE INCOME$516$380$1,394$1,170
September 30,2025 · December 31,2024
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents$273$79
Accounts Receivable, net of allowance of $232 in 2025 and $210 in 20241,3341,189
Unbilled Revenues, net of allowance of $4 in 2025 and $5 in 2024225313
Materials and Supplies, net618642
Prepayments15028
Regulatory Assets639516
Other2515
Total Current Assets3,2642,782
PROPERTY, PLANT AND EQUIPMENT47,99646,198
Less: Accumulated Depreciation and Amortization(9,616)(9,160)
Net Property, Plant and Equipment38,38037,038
NONCURRENT ASSETS
Regulatory Assets6,4576,125
Operating Lease Right-of-Use Assets8993
Long-Term Investments7790
Rabbi Trust Fund3030
Other221206
Total Noncurrent Assets6,8746,544
TOTAL ASSETS$48,518$46,364
September 30,2025 · December 31,2024
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES
Long-Term Debt Due Within One Year$875$350
Commercial Paper and Loans—444
Accounts Payable817704
Accounts Payable—Affiliated Companies340362
Accrued Interest136174
Clean Energy Program186145
Obligation to Return Cash Collateral9993
Regulatory Liabilities605555
Other279371
Total Current Liabilities3,3373,198
NONCURRENT LIABILITIES
Deferred Income Taxes and ITC6,8196,477
Regulatory Liabilities2,0762,271
Operating Leases7783
Asset Retirement Obligations464457
OPEB Costs141164
Accrued Pension Costs302305
Environmental Costs166159
Other182157
Total Noncurrent Liabilities10,22710,073
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 8)
CAPITALIZATION
LONG-TERM DEBT15,11514,648
STOCKHOLDER’S EQUITY
Common Stock; 150 shares authorized; issued and outstanding, 2025 and 2024—132 shares892892
Contributed Capital2,1562,156
Retained Earnings16,79415,401
Accumulated Other Comprehensive Loss(3)(4)
Total Stockholder’s Equity19,83918,445
Total Capitalization34,95433,093
TOTAL LIABILITIES AND CAPITALIZATION$48,518$46,364

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Nine Months Ended
September 30,
2025 · 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income$1,393$1,169
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities:
Depreciation and Amortization832758
Provision for Deferred Income Taxes and ITC(60)297
Non-Cash Employee Benefit Plan (Credits) Costs3231
Cost of Removal(117)(137)
Energy Efficiency Programs Regulatory Expenditures(504)(393)
Amortization of Energy Efficiency Programs Regulatory Expenditures12290
Net Change in Other Regulatory Assets and Liabilities148(81)
Net Change in Certain Current Assets and Liabilities:
Accounts Receivable and Unbilled Revenues(62)31
Materials and Supplies24(124)
Prepayments(122)(82)
Accounts Payable26(51)
Accounts Receivable/Payable—Affiliated Companies, net(54)(231)
Other Current Assets and Liabilities(95)(86)
Employee Benefit Plan Funding and Related Payments(23)(26)
Other(12)(46)
Net Cash Provided By (Used In) Operating Activities1,5281,119
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant and Equipment(1,893)(2,157)
Proceeds from Sales of Trust Investments44
Purchases of Trust Investments(3)(3)
Other1522
Net Cash Provided By (Used In) Investing Activities(1,877)(2,134)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Change in Commercial Paper and Loans(444)(425)
Issuance of Long-Term Debt1,3502,100
Repayment of Long-Term Debt(350)(500)
Other(16)(25)
Net Cash Provided By (Used In) Financing Activities5401,150
Net Increase (Decrease) In Cash, Cash Equivalents and Restricted Cash191135
Cash, Cash Equivalents and Restricted Cash at Beginning of Period10875
Cash, Cash Equivalents and Restricted Cash at End of Period$299$210
Supplemental Disclosure of Cash Flow Information:
Net Income Taxes Paid (Received)$(7)$39
Interest Paid, Net of Amounts Capitalized$505$413
Accrued Property, Plant and Equipment Expenditures$373$378

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDER’S EQUITY

CommonStock · ContributedCapital · RetainedEarnings · AccumulatedOtherComprehensiveIncome (Loss) · Total
Balance as of June 30, 2025$892$2,156$16,279$(4)$19,323
Net Income——515—515
Other Comprehensive Income (Loss), net of tax (expense) benefit of $0———11
Comprehensive Income516
Balance as of September 30, 2025$892$2,156$16,794$(3)$19,839
Balance as of June 30, 2024$892$2,156$14,794$(4)$17,838
Net Income——379—379
Other Comprehensive Income (Loss), net of tax (expense) benefit of $0———11
Comprehensive Income380
Balance as of September 30, 2024$892$2,156$15,173$(3)$18,218
CommonStock · ContributedCapital · RetainedEarnings · AccumulatedOtherComprehensiveIncome (Loss) · Total
Balance as of December 31, 2024$892$2,156$15,401$(4)$18,445
Net Income——1,393—1,393
Other Comprehensive Income (Loss), net of tax (expense) benefit of $0———11
Comprehensive Income1,394
Balance as of September 30, 2025$892$2,156$16,794$(3)$19,839
Balance as of December 31, 2023$892$2,156$14,004$(4)$17,048
Net Income——1,169—1,169
Other Comprehensive Income (Loss), net of tax (expense) benefit of $0———11
Comprehensive Income1,170
Balance as of September 30, 2024$892$2,156$15,173$(3)$18,218
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.