XML 54 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash Flows From Operating Activities:    
Net Earnings $ 104,159 $ 107,551
Net Earnings 92,859 96,456
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 157,856 153,992
Deferred income tax expense 57,878 55,141
Net unrealized (gains) losses on commodity derivatives (5,858) 3,076
Realized (gains) losses on investments held by NDT (6,995) (9,376)
Stock based compensation expense 4,315 2,748
Regulatory disallowances 1,735 0
Other, net 1,444 (2,037)
Changes in certain assets and liabilities:    
Accounts receivable and unbilled revenues (23,731) (31,550)
Materials, supplies, and fuel stock (724) (6,769)
Other current assets (6,667) (4,225)
Other assets 21,656 (9,499)
Accounts payable (17,786) 3,973
Accrued interest and taxes 126,218 22,336
Other current liabilities (32,111) (21,681)
Proceeds from governmental grants 0 21,567
Other liabilities (70,379) (80,248)
Net cash flows from operating activities 311,010 204,999
Cash Flows From Investing Activities:    
Additions to utility and non-utility plant (233,928) (214,743)
Proceeds from sales of investments held by NDT 179,336 136,305
Purchases of investments held by NDT (181,401) (138,658)
Proceeds from sale of First Choice 0 4,034
Return of principal on PVNGS lessor notes 23,357 23,455
Other, net 1,210 1,627
Net cash flows from investing activities (211,426) (187,980)
Cash Flows From Financing Activities:    
Short-term borrowings (repayments), net (46,700) 30,700
Long-term borrowings 75,000 20,000
Repayment of long-term debt (26,037) (20,000)
Cash paid in debt exchange (13,048) 0
Proceeds from stock option exercise 3,500 10,301
Purchases to satisfy awards of common stock (12,429) (21,930)
Dividends paid (38,233) (33,454)
Valencia's transactions with its owner (13,477) (12,034)
Other, net (3,706) (337)
Net cash flows from financing activities (75,130) (26,754)
Change in Cash and Cash Equivalents 24,454 (9,735)
Cash and Cash Equivalents at Beginning of Period 8,985 15,091
Cash and Cash Equivalents at End of Period 33,439 5,356
Supplemental Cash Flow Disclosures:    
Interest paid, net of capitalized interest 71,824 64,040
Income taxes paid (refunded), net (95,472) 5,302
Supplemental schedule of noncash financing activities:    
Premium on long-term debt incurred in connection with debt exchange 23,249   
Public Service Company of New Mexico [Member]
   
Cash Flows From Operating Activities:    
Net Earnings 96,420 96,306
Net Earnings 85,516 85,607
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 104,161 97,086
Deferred income tax expense 49,870 52,558
Net unrealized (gains) losses on commodity derivatives (5,858) 3,076
Realized (gains) losses on investments held by NDT (6,995) (9,376)
Regulatory disallowances 1,735 0
Other, net (1,282) (1,005)
Changes in certain assets and liabilities:    
Accounts receivable and unbilled revenues (14,123) (26,183)
Materials, supplies, and fuel stock (744) (6,404)
Other current assets (5,187) (6,942)
Other assets 21,977 (9,425)
Accounts payable (4,953) 2,353
Accrued interest and taxes 66,090 80,418
Other current liabilities (43,935) (9,850)
Proceeds from governmental grants 0 21,567
Other liabilities (67,062) (75,629)
Net cash flows from operating activities 190,114 208,550
Cash Flows From Investing Activities:    
Additions to utility and non-utility plant (164,669) (144,571)
Proceeds from sales of investments held by NDT 179,336 136,305
Purchases of investments held by NDT (181,401) (138,658)
Return of principal on PVNGS lessor notes 23,357 23,455
Other, net 1,212 (720)
Net cash flows from investing activities (142,165) (124,189)
Cash Flows From Financing Activities:    
Short-term borrowings (repayments), net (21,100) (66,000)
Long-term borrowings 75,000 20,000
Repayment of long-term debt 0 (20,000)
Dividends paid (68,424) (18,076)
Valencia's transactions with its owner (13,477) (12,034)
Other, net (1,727) (337)
Net cash flows from financing activities (29,728) (96,447)
Change in Cash and Cash Equivalents 18,221 (12,086)
Cash and Cash Equivalents at Beginning of Period 3,958 12,307
Cash and Cash Equivalents at End of Period 22,179 221
Supplemental Cash Flow Disclosures:    
Interest paid, net of capitalized interest 49,984 43,167
Income taxes paid (refunded), net (44,999) (63,114)
Texas-New Mexico Power Company [Member]
   
Cash Flows From Operating Activities:    
Net Earnings 22,170 20,113
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 40,946 41,222
Deferred income tax expense 3,901 11,337
Other, net (13) (275)
Changes in certain assets and liabilities:    
Accounts receivable and unbilled revenues (9,608) (5,367)
Materials, supplies, and fuel stock 20 (365)
Other current assets (2,420) (709)
Other assets 36 (498)
Accounts payable (291) (358)
Accrued interest and taxes 14,669 4,860
Other current liabilities (1,946) 1,980
Other liabilities 2,182 (3,411)
Net cash flows from operating activities 69,646 68,529
Cash Flows From Investing Activities:    
Additions to utility and non-utility plant (67,400) (59,801)
Net cash flows from investing activities (67,400) (59,801)
Cash Flows From Financing Activities:    
Short-term borrowings (repayments), affiliate, net 12,000 0
Long-term borrowings 4,800 2,300
Cash paid in debt exchange (13,048) 0
Dividends paid (3,726) (11,028)
Other, net (2,117) 0
Net cash flows from financing activities (2,091) (8,728)
Change in Cash and Cash Equivalents 155 0
Cash and Cash Equivalents at Beginning of Period 1 1
Cash and Cash Equivalents at End of Period 156 1
Supplemental Cash Flow Disclosures:    
Interest paid, net of capitalized interest 13,626 13,074
Income taxes paid (refunded), net 696 1,848
Supplemental schedule of noncash financing activities:    
Premium on long-term debt incurred in connection with debt exchange $ 23,249