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Schedule I - Condensed Financial Information of Parent Company
 12 Months Ended
Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Schedule I - Condensed Financial Information of Parent Company
SCHEDULE I
PNM RESOURCES, INC.
CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY
STATEMENTS OF EARNINGS
 
 
Year ended December 31,
 
2016
 
2015
 
2014
 
(In thousands)
Operating Revenues
$
—

 
$
—

 
$
—

Operating Expenses
2,871

 
1,221

 
650

Operating income (loss)
(2,871
)
 
(1,221
)
 
(650
)
Other Income and Deductions:
 
 
 
 
 
Equity in earnings of subsidiaries
122,252

 
27,352

 
124,543

Other income
1,711

 
747

 
622

Net other income and deductions
123,963

 
28,099

 
125,165

Interest Charges
8,102

 
8,275

 
13,650

Earnings Before Income Taxes
112,990

 
18,603

 
110,865

Income Tax Expense (Benefit)
(3,859
)
 
2,963

 
(5,389
)
Net Earnings
$
116,849

 
$
15,640

 
$
116,254




SCHEDULE I
PNM RESOURCES, INC.
CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY
STATEMENTS OF CASH FLOWS
 
 
Year Ended December 31,
 
2016
 
2015
 
2014
 
(In thousands)
Net Cash Flows From Operating Activities
$
5,702

 
$
1,375

 
$
22,744

Cash Flows From Investing Activities:
 
 
 
 
 
Utility plant additions
341

 
368

 
(474
)
Investments in subsidiaries
(98,343
)
 
(175,000
)
 
—

Cash dividends from subsidiaries
35,959

 
127,688

 
46,599

Net cash flows from investing activities
(62,043
)
 
(46,944
)
 
46,125

Cash Flows From Financing Activities:
 
 
 
 
 
Short-term loan
100,000

 
50,000

 
—

Repayment of short-term loan
(150,000
)
 
—

 
—

Short-term borrowings (repayments), net
84,500

 
41,000

 
600

Long-term borrowings
100,000

 
150,000

 
—

Repayment of long-term debt
—

 
(118,766
)
 
—

Proceeds from stock option exercise
7,028

 
5,619

 
6,999

Purchases to satisfy awards of common stock
(15,451
)
 
(17,720
)
 
(17,319
)
Dividends paid
(70,095
)
 
(63,723
)
 
(58,940
)
Other, net
(28
)
 
(782
)
 
81

Net cash flows from financing activities
55,954

 
45,628

 
(68,579
)
Change in Cash and Cash Equivalents
(387
)
 
59

 
290

Cash and Cash Equivalents at Beginning of Period
441

 
382

 
92

Cash and Cash Equivalents at End of Period
$
54

 
$
441

 
$
382

Supplemental Cash Flow Disclosures:
 
 
 
 
 
Interest paid, net of amounts capitalized
$
5,906

 
$
7,559

 
$
12,152

Income taxes paid (refunded), net
$
—

 
$
(730
)
 
$
(2,014
)

SCHEDULE I
PNM RESOURCES, INC.
CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY
BALANCE SHEETS
 
 
December 31,
 
2016
 
2015
 
(In thousands)
Assets
 
 
 
Cash and cash equivalents
$
54

 
$
441

Intercompany receivables
92,234

 
102,676

Other, net
233

 
524

Total current assets
92,521

 
103,641

Property, plant and equipment, net of accumulated depreciation of $12,291 and $11,276
26,366

 
26,707

Investment in subsidiaries
1,986,276

 
1,822,593

Other long-term assets
79,314

 
81,168

Total long-term assets
2,091,956

 
1,930,468

 
$
2,184,477

 
$
2,034,109

Liabilities and Stockholders’ Equity
 
 
 
Short-term debt
$
226,100

 
$
191,600

Short-term debt-affiliate
8,819

 
8,819

Accrued interest and taxes
1,333

 
7,780

Other current liabilities
19,374

 
18,282

Total current liabilities
255,626

 
226,481

Long-term debt
249,895

 
149,860

Other long-term liabilities
3,004

 
2,955

Total liabilities
508,525

 
379,296

Common stock (no par value; 120,000,000 shares authorized; issued and outstanding 79,653,624 shares)
1,163,661

 
1,166,465

Accumulated other comprehensive income (loss), net of tax
(92,451
)
 
(71,432
)
Retained earnings
604,742

 
559,780

Total common stockholders’ equity
1,675,952

 
1,654,813

 
$
2,184,477

 
$
2,034,109


See Notes 6, 7, 14, and 16 for information regarding commitments, contingencies, and maturities of long-term debt.