PSEG Form 10-K 2004

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TABLE OF CONTENTS

Form 10-K
Table of Contents
Forward-Looking Statements
Where to Find More Information

Part I
Item 1. Business

PSEG, PSE&G, Power and Energy Holdings

PSE&G

Energy Holdings

Regulatory Issues

Segment Information

Environmental Matters

Item 2. Properties

Item 3. Legal Proceedings

Item 4. Submission of Matters to a Vote of Security Holders

Part II

Item 5. Market for Registrant’s Common Equity and Related Stockholder Matters

Item 6. Selected Financial Data

Management Discussion

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Overview of 2004 and Future Outlook

Results of Operations

Liquidity and Capital Resources

Capital Requirements

Off-Balance Sheet Arrangements

Critical Accounting Estimates

Item 7A. Qualitative and Quantitative Disclosures About Market Risk

Financial Statements

Item 8. Financial Statements and Supplementary Data

Report of Independent Registered Public Accounting Firm

Consolidated Financial Statements

Notes to Consolidated Financial Statements

1. Organization and Summary of Significant Accounting Policies

2. Recent Accounting Standards

3. Asset Retirement Obligations

4. Discontinued Operations, Dispositions and Acquisitions

5. Extraordinary Item

6. Asset Impairments

7. Regulatory Matters

8. Earnings Per Share

9. Goodwill and Other Intangibles

10. Long-Term Investments

11. Schedule of Consolidated Capital Stock and Other Securities

12. Schedule of Consolidated Debt

13. Risk Management

14. Commitments and Contingent Liabilities

15. Nuclear Decommissioning

16. Other Income and Deductions

17. Income Taxes

18. Pension, Other Postretirement Benefits (OPEB) and Savings Plans

19. Stock Options and Employee Stock Purchase Plan

20. Financial Information by Business Segments

21. Property, Plant and Equipment and Jointly-Owned Facilities

22. Selected Quarterly Data (Unaudited)

23. Related-Party Transactions

24. Guarantees of Debt

25. Merger Agreement

Item 9. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9A. Controls and Procedures

Part III

Item 10. Directors and Executive Officers of the Registrants

Item 11. Executive Compensation

Item 12. Security Ownership of Certain Beneficial Owners and Management

Item 13. Certain Relationships and Related Transactions

Item 14. Principal Accounting Fees and Services

Part IV

Item 15. Exhibits and Financial Statement Schedules

Schedule II - Valuation and Qualifying Accounts