Skip to main content
Midas Edge

PUBLIC SERVICE ELECTRIC & GAS CO

For the period ended Mar 31, 2026. Filed May 5, 2026.

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.

Mar 31, 2026 · Filed May 5, 2026

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
March 31,
2026 · 2025
OPERATING REVENUES$3,085$2,664
OPERATING EXPENSES
Energy Costs1,3581,094
Operation and Maintenance637576
Depreciation and Amortization295280
Total Operating Expenses2,2901,950
OPERATING INCOME795714
Net Other Income (Deductions)1916
Net Non-Operating Pension and OPEB Credits (Costs)1717
Interest Expense(175)(157)
INCOME BEFORE INCOME TAXES656590
Income Tax Expense(79)(44)
NET INCOME$577$546

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Three Months Ended
March 31,
2026 · 2025
NET INCOME$577$546
Unrealized Gains (Losses) on Available-for-Sale Securities, net of tax (expense) benefit of $0 for 2026 and 2025——
COMPREHENSIVE INCOME$577$546
March 31,2026 · December 31,2025
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents$349$97
Accounts Receivable, net of allowance of $255 in 2026 and $248 in 20251,6681,431
Unbilled Revenues, net of allowance of $4 in 2026 and $6 in 2025269381
Materials and Supplies, net613613
Prepayments2617
Regulatory Assets303537
Other1011
Total Current Assets3,2383,087
PROPERTY, PLANT AND EQUIPMENT49,24348,752
Less: Accumulated Depreciation and Amortization(9,915)(9,767)
Net Property, Plant and Equipment39,32838,985
NONCURRENT ASSETS
Regulatory Assets6,4916,431
Operating Lease Right-of-Use Assets10584
Long-Term Investments236199
Rabbi Trust Fund2829
Other277209
Total Noncurrent Assets7,1376,952
TOTAL ASSETS$49,703$49,024
March 31,2026 · December 31,2025
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES
Long-Term Debt Due Within One Year$425$875
Commercial Paper and Loans—325
Accounts Payable726866
Accounts Payable—Affiliated Companies469472
Accrued Interest148197
New Jersey Clean Energy Program85145
Obligation to Return Cash Collateral126106
Regulatory Liabilities382484
Other378324
Total Current Liabilities2,7393,794
NONCURRENT LIABILITIES
Deferred Income Taxes and ITC7,2767,074
Regulatory Liabilities1,9872,048
Operating Leases9273
Asset Retirement Obligations456457
OPEB Costs125126
Accrued Pension Costs157164
Environmental Costs156160
Long-Term Accrued Taxes77
Other205188
Total Noncurrent Liabilities10,46110,297
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 8)
CAPITALIZATION
LONG-TERM DEBT16,11015,117
STOCKHOLDER’S EQUITY
Common Stock; 150 shares authorized; issued and outstanding, 2026 and 2025—132 shares892892
Contributed Capital2,1562,156
Retained Earnings17,34816,771
Accumulated Other Comprehensive Loss(3)(3)
Total Stockholder’s Equity20,39319,816
Total Capitalization36,50334,933
TOTAL LIABILITIES AND CAPITALIZATION$49,703$49,024

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Three Months Ended
March 31,
2026 · 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income$577$546
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities:
Depreciation and Amortization295280
Provision for Deferred Income Taxes and ITC84(21)
Non-Cash Employee Benefit Plan (Credits) Costs111
Cost of Removal(36)(34)
Energy Efficiency Programs Regulatory Expenditures(128)(165)
Amortization of Energy Efficiency Programs Regulatory Expenditures5038
Net Change in Other Regulatory Assets and Liabilities10937
Net Change in Certain Current Assets and Liabilities:
Accounts Receivable and Unbilled Revenues(123)(107)
Materials and Supplies—4
Prepayments(9)(10)
Accounts Payable(84)(67)
Accounts Receivable/Payable—Affiliated Companies, net(9)115
Obligation to Return Cash Collateral2026
Other Current Assets and Liabilities414
Employee Benefit Plan Funding and Related Payments(9)(12)
Other(40)(23)
Net Cash Provided By (Used In) Operating Activities702632
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant and Equipment(621)(605)
Proceeds from Sales of Trust Investments21
Purchases of Trust Investments(1)(1)
Other(44)8
Net Cash Provided By (Used In) Investing Activities(664)(597)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Change in Commercial Paper and Loans(325)(444)
Issuance of Long-Term Debt1,000900
Redemption of Long-Term Debt(450)—
Other(11)(12)
Net Cash Provided By (Used In) Financing Activities214444
Net Increase (Decrease) In Cash, Cash Equivalents and Restricted Cash252479
Cash, Cash Equivalents and Restricted Cash at Beginning of Period121108
Cash, Cash Equivalents and Restricted Cash at End of Period$373$587
Supplemental Disclosure of Cash Flow Information:
Net Income Taxes Paid (Received)$(13)$—
Interest Paid, Net of Amounts Capitalized$224$189
Accrued Property, Plant and Equipment Expenditures$308$289

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDER’S EQUITY

CommonStock · ContributedCapital · RetainedEarnings · AccumulatedOtherComprehensiveIncome (Loss) · Total
Balance as of December 31, 2025$892$2,156$16,771$(3)$19,816
Net Income——577—577
Comprehensive Income577
Balance as of March 31, 2026$892$2,156$17,348$(3)$20,393
Balance as of December 31, 2024$892$2,156$15,401$(4)$18,445
Net Income——546—546
Comprehensive Income546
Balance as of March 31, 2025$892$2,156$15,947$(4)$18,991
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.