PSE&G 2010 Annual Report Download - page 2

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PSEG
overview ...
Public Service Enterprise Group (PSEG), a diversifi ed energy holding company with approximately
$30 billion in assets, is one of the nation’s leading wholesale energy producers and most reliable
electric and gas transmission and delivery utilities.
2010 Financial Highlights
Dollars in millions, where applicable 2010 2009 % change
Total Revenues $ 11,793 $ 12,035 -2
Income from Continuing Operations $ 1,557 $ 1,594 -2
Pro Forma Operating Earnings (Non-GAAP) $ 1,584 $ 1,567 1
Net Income $ 1,564 $ 1,592 -2
Earnings Per Share-Diluted
Income from Continuing Operations $ 3.07 $ 3.14 -2
Pro Forma Operating Earnings (Non-GAAP) $ 3.12 $ 3.09 1
Net Income $ 3.08 $ 3.14 -2
Weighted average common stock shares outstanding (thousands)
Diluted 507,045 507,064 0
Dividends Paid per Share $ 1.37 $ 1.33 3
Book Value per Share – Year-end $ 19.04 $ 17.37 10
Market Price per Share – Year-end $ 31.81 $ 33.25 -4
Total Assets $ 29,909 $ 28,678 4
Note: Pro Forma Operating Earnings in 2010 exclude the net after-tax gains for NDT Fund related activity of $46 million, or $0.09 per share,
net mark-to-market losses of $1 million, or $0.00 per share, and an after-tax charge of $72 million, or $0.14 per share, for the Market
Transition Charge refund. Operating Earnings in 2009 exclude the net after-tax gains for NDT Fund related activity of $9 million, or $0.02
per share, net mark-to-market losses of $11 million, or $0.02 per share and the net reversal of lease transaction reserves of $29 million, or
$0.05 per share. PSEG believes that the non-GAAP fi nancial measure “Operating Earnings” provides a consistent and comparable measure
of performance of its businesses to help the shareholders understand performance trends.
The forward-looking statements about PSEG’s expectations made throughout this report are based on information
currently available and on reasonable assumptions. As noted in our Forward-Looking Statement disclaimer on
the inside back cover of this report, we face a number of risks and uncertainties. Actual results could be
materially different, as historical results are not necessarily indicative of future earnings. For more information,
please refer to PSEG reports that are fi led periodically with the Securities and Exchange Commission.