PSE&G 2012 Annual Report Download - page 2

DOLLARS IN MILLIONS, WHERE APPLICABLE 2012 2011 % Change
Total Revenues $9,781 $11,079 -12
Income from Continuing Operations $1,275 $1,407 -9
Pro Forma Operating Earnings (Non-GAAP) $1,236 $1,389 -11
Net Income $1,275 $1,503 -15
Earnings per Share – Diluted
Income from Continuing Operations $2.51 $2.77 -9
Pro Forma Operating Earnings (Non-GAAP) $2.44 $2.74 -11
Net Income $2.51 $2.96 -15
Weighted average common stock shares outstanding – (thousands)
Diluted 507,086 506,982 0
Dividends Paid per Share $1.42 $1.37 4
Book Value per Share – Year-end $21.31 $20.30 5
Market Price per Share – Year-end $30.60 $33.01 -7
Total Assets $31,725 $29,821 6
Note: Pro Forma Operating Earnings in 2012 exclude the net after-tax gains for NDT Fund related activity of $52 million, or $0.10
per share, net after-tax mark-to-market losses of $10 million, or $0.02 per share, after-tax gains of $36 million, or $0.07 per
share, for lease related activity, and net after-tax costs of $39 million, or $0.08 per share, related to storm restoration at PSEG
Power LLC. Operating Earnings in 2011 exclude the net after-tax gains for NDT Fund related activity of $50 million, or $0.10 per
share, net mark-to-market gains of $107 million, or $0.21 per share, an after-tax charge of $173 million, or $0.34 per share, for
lease related activity, and an after-tax gain of $34 million, or $0.06 per share related to an asset sale.
PSEG
Public Service Enterprise Group (PSEG), a diversified energy holding company with more than
$30 billion in assets, is one of the nation’s leading wholesale energy producers and most
reliable electric and gas transmission and delivery utilities.
2012 financial highlights
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PSEG
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Pat Martin, Grade 1 lineman in PSE&G’s Delivery Projects and Construction organization, is depicted on this year’s Annual Report
Cover installing hardware on a new pole as part of a transmission expansion project. During the 10 years that he’s been with the
company, Pat has proven time and time again that he embodies the qualities essential to the success of our business. We thank him
and are proud of his efforts. He along with our entire team of talented and dedicated employees are what make PSEG energy strong.
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 filed periodically with
the Securities and Exchange Commission.