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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash Flows From Operating Activities:      
Net Earnings $ 101,282,000 $ 95,419,000 $ 131,896,000
Adjustments to reconcile net earnings to net cash flows from operating activities:      
Depreciation and amortization 275,641,000 268,194,000 242,033,000
Deferred income tax expense 8,019,000 130,528,000 63,805,000
Net unrealized losses on commodity derivatives 0 2,875,000 1,577,000
(Gains) losses on investment securities 17,176,000 (27,161,000) (19,517,000)
Stock based compensation expense 7,120,000 6,194,000 5,634,000
Regulatory disallowances and restructuring costs 65,598,000 27,036,000 15,011,000
Allowance for equity funds used during construction (10,404,000) (9,516,000) (4,949,000)
Other, net 3,529,000 2,329,000 3,060,000
Changes in certain assets and liabilities:      
Accounts receivable and unbilled revenues (8,702,000) (1,846,000) 2,543,000
Materials, supplies, and fuel stock (5,331,000) 1,473,000 (4,169,000)
Other current assets 2,491,000 31,298,000 (9,640,000)
Other assets (840,000) (5,486,000) (42,864,000)
Accounts payable (20,714,000) 14,468,000 3,159,000
Accrued interest and taxes 1,713,000 (327,000) 3,345,000
Other current liabilities 2,614,000 (6,513,000) (12,509,000)
Other liabilities (10,966,000) (5,503,000) 29,868,000
Net cash flows from operating activities 428,226,000 523,462,000 408,283,000
Cash Flows From Investing Activities:      
Additions to utility and non-utility plant (501,213,000) (500,461,000) (600,076,000)
Proceeds from sales of investment securities 984,533,000 637,492,000 522,601,000
Purchases of investment securities (1,007,022,000) (650,284,000) (538,383,000)
Return of principal on PVNGS lessor notes 0 0 8,547,000
Investments in NMRD (9,000,000) (4,077,000) 0
Disbursements from NMRD 0 12,415,000 0
Investment in Westmoreland Loan 0 0 (122,250,000)
Principal repayments on Westmoreland Loan 56,640,000 38,360,000 30,000,000
Other, net 338,000 392,000 186,000
Net cash flows from investing activities (475,724,000) (466,163,000) (699,375,000)
Cash Flows From Financing Activities:      
Short-term loan 50,000,000 0 100,000,000
Repayment of short-term loan 0 0 (150,000,000)
Revolving credit facilities borrowings (repayments), net (119,500,000) 18,300,000 86,500,000
Long-term borrowings 984,652,000 317,000,000 603,500,000
Repayment of long-term debt (750,162,000) (274,070,000) (303,793,000)
Proceeds from stock option exercise 963,000 1,739,000 7,028,000
Awards of common stock (12,635,000) (13,929,000) (15,451,000)
Dividends paid (84,961,000) (77,792,000) (70,623,000)
Valencia’s transactions with its owner (17,095,000) (17,742,000) (17,006,000)
Amounts received under transmission interconnection arrangements 4,060,000 11,879,000 7,171,000
Refunds paid under transmission interconnection arrangements (2,830,000) (21,290,000) (2,830,000)
Other, net (6,846,000) (2,942,000) (2,104,000)
Net cash flows from financing activities 45,646,000 (58,847,000) 242,392,000
Change in Cash and Cash Equivalents (1,852,000) (1,548,000) (48,700,000)
Cash and Cash Equivalents at Beginning of Period 3,974,000 5,522,000 54,222,000
Cash and Cash Equivalents at End of Period 2,122,000 3,974,000 5,522,000
Restricted Cash Included in Other Current Assets on Consolidated Balance Sheets:      
At beginning of period 0 1,000,000 8,171,000
At end of period 0 0 1,000,000
Supplemental Cash Flow Disclosures:      
Interest paid, net of amounts capitalized 119,308,000 120,955,000 115,043,000
Income taxes paid (refunded), net 842,000 625,000 (307,000)
Supplemental schedule of noncash investing and financing activities:      
(Increase) decrease in accrued plant additions (11,502,000) (25,261,000) 18,345,000
Contribution of utility plant to NMRD 578,000 24,829,000  
Public Service Company of New Mexico      
Cash Flows From Operating Activities:      
Net Earnings 70,323,000 87,413,000 91,938,000
Net Earnings 55,211,000 72,396,000 77,419,000
Adjustments to reconcile net earnings to net cash flows from operating activities:      
Depreciation and amortization 182,355,000 180,500,000 166,047,000
Deferred income tax expense 3,334,000 82,549,000 53,119,000
Net unrealized losses on commodity derivatives 0 2,875,000 1,577,000
(Gains) losses on investment securities 17,176,000 (27,161,000) (19,517,000)
Regulatory disallowances and restructuring costs 66,339,000 27,036,000 15,011,000
Allowance for equity funds used during construction (8,173,000) (8,664,000) (4,163,000)
Other, net 3,395,000 2,615,000 3,046,000
Changes in certain assets and liabilities:      
Accounts receivable and unbilled revenues (7,959,000) (419,000) 4,769,000
Materials, supplies, and fuel stock (6,238,000) 3,542,000 (3,924,000)
Other current assets (468,000) 31,775,000 (6,044,000)
Other assets 6,894,000 15,121,000 (23,880,000)
Accounts payable (14,290,000) 9,736,000 5,614,000
Accrued interest and taxes (7,617,000) 21,523,000 (9,601,000)
Other current liabilities (17,975,000) (11,099,000) (12,136,000)
Other liabilities (3,761,000) (9,389,000) 20,119,000
Net cash flows from operating activities 283,335,000 407,953,000 281,975,000
Cash Flows From Investing Activities:      
Additions to utility and non-utility plant (255,627,000) (309,142,000) (445,464,000)
Proceeds from sales of investment securities 984,533,000 637,492,000 522,601,000
Purchases of investment securities (1,007,022,000) (650,284,000) (538,383,000)
Return of principal on PVNGS lessor notes 0 0 8,547,000
Other, net 544,000 33,000 171,000
Net cash flows from investing activities (277,572,000) (321,901,000) (452,528,000)
Cash Flows From Financing Activities:      
Revolving credit facilities borrowings (repayments), net 2,600,000 (21,200,000) 61,000,000
Short-term borrowings (repayments) - affiliate, net 19,800,000 0 0
Long-term borrowings 450,000,000 257,000,000 321,000,000
Repayment of long-term debt (450,025,000) (232,000,000) (271,000,000)
Equity contribution from parent 0 0 28,142,000
Dividends paid (77,904,000) (61,223,000) (4,670,000)
Valencia’s transactions with its owner (17,095,000) (17,742,000) (17,006,000)
Amounts received under transmission interconnection arrangements 72,260,000 11,879,000 7,171,000
Refunds paid under transmission interconnection arrangements (2,830,000) (21,290,000) (2,830,000)
Other, net (3,592,000) (1,692,000) (1,239,000)
Net cash flows from financing activities (6,786,000) (86,268,000) 120,568,000
Change in Cash and Cash Equivalents (1,023,000) (216,000) (49,985,000)
Cash and Cash Equivalents at Beginning of Period 1,108,000 1,324,000 51,309,000
Cash and Cash Equivalents at End of Period 85,000 1,108,000 1,324,000
Supplemental Cash Flow Disclosures:      
Interest paid, net of amounts capitalized 73,029,000 77,960,000 82,514,000
Income taxes paid (refunded), net 134,000 (23,391,000) (967,000)
Supplemental schedule of noncash investing and financing activities:      
(Increase) decrease in accrued plant additions (12,310,000) (11,792,000) 22,433,000
Texas-New Mexico Power Company      
Cash Flows From Operating Activities:      
Net Earnings 51,591,000 35,559,000 41,672,000
Adjustments to reconcile net earnings to net cash flows from operating activities:      
Depreciation and amortization 68,078,000 64,939,000 62,866,000
Deferred income tax expense 1,780,000 27,275,000 12,662,000
Regulatory disallowances and restructuring costs (741,000) 0 0
Allowance for equity funds used during construction (2,200,000) (900,000) (800,000)
Allowance for equity funds used during construction and other, net (2,048,000) (1,120,000) (772,000)
Changes in certain assets and liabilities:      
Accounts receivable and unbilled revenues (744,000) (1,427,000) (2,226,000)
Materials, supplies, and fuel stock 907,000 (2,069,000) (245,000)
Other current assets 1,929,000 (1,253,000) (621,000)
Other assets (7,174,000) (20,967,000) (19,126,000)
Accounts payable (4,199,000) 2,419,000 (2,040,000)
Accrued interest and taxes 12,263,000 (15,962,000) 12,690,000
Other current liabilities 6,719,000 (2,236,000) 298,000
Other liabilities (6,610,000) 1,334,000 6,822,000
Net cash flows from operating activities 121,751,000 86,492,000 111,980,000
Cash Flows From Investing Activities:      
Additions to utility and non-utility plant (223,448,000) (145,495,000) (122,518,000)
Net cash flows from investing activities (223,448,000) (145,495,000) (122,518,000)
Cash Flows From Financing Activities:      
Revolving credit facilities borrowings (repayments), net 17,500,000 0 (59,000,000)
Short-term borrowings (repayments) - affiliate, net 100,000 (4,600,000) (7,200,000)
Long-term borrowings 95,000,000 60,000,000 60,000,000
Equity contribution from parent 30,000,000 50,000,000 50,000,000
Dividends paid (41,903,000) (44,389,000) (31,817,000)
Other, net (700,000) (979,000) (775,000)
Net cash flows from financing activities 99,997,000 60,032,000 11,208,000
Change in Cash and Cash Equivalents (1,700,000) 1,029,000 670,000
Cash and Cash Equivalents at Beginning of Period 1,700,000 671,000 1,000
Cash and Cash Equivalents at End of Period 0 1,700,000 671,000
Supplemental Cash Flow Disclosures:      
Interest paid, net of amounts capitalized 28,629,000 29,251,000 26,766,000
Income taxes paid (refunded), net 4,266,000 21,436,000 660,000
Supplemental schedule of noncash investing and financing activities:      
(Increase) decrease in accrued plant additions $ 1,810,000 $ (15,737,000) $ (1,271,000)