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Schedule I - Condensed Financial Information of Parent Company
 12 Months Ended
Dec. 31, 2019
Condensed Financial Information 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,
 
2019
 
2018
 
2017
 
(In thousands)
Operating Revenues
$
—

 
$
—

 
$
—

Operating Expenses
3,983

 
7,475

 
2,902

Operating income (loss)
(3,983
)
 
(7,475
)
 
(2,902
)
Other Income and Deductions:
 
 
 
 
 
Equity in earnings of subsidiaries
96,324

 
109,995

 
111,877

Other income
731

 
2,048

 
1,181

Net other income and deductions
97,055

 
112,043

 
113,058

Interest Charges
19,581

 
19,453

 
12,490

Earnings Before Income Taxes
73,491

 
85,115

 
97,666

Income Tax Expense (Benefit)
(3,872
)
 
(527
)
 
17,792

Net Earnings
$
77,363

 
$
85,642

 
$
79,874




SCHEDULE I
PNM RESOURCES, INC.
CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY
STATEMENTS OF CASH FLOWS
 
 
Year Ended December 31,
 
2019
 
2018
 
2017
 
(In thousands)
Cash Flows From Operating Activities:
 
 
 
 
 
Net Cash Flows From Operating Activities
$
2,001

 
$
(2,566
)
 
$
(7,814
)
Cash Flows From Investing Activities:
 
 
 
 
 
Utility plant additions
1,100

 
826

 
(180
)
Investments in subsidiaries
(80,000
)
 
(30,000
)
 
(50,000
)
Cash dividends from subsidiaries
54,465

 
129,379

 
105,084

Net cash flows from investing activities
(24,435
)
 
100,205

 
54,904

Cash Flows From Financing Activities:
 
 
 
 
 
Short-term loan borrowings (repayments)
(150,000
)
 
50,000

 
—

Revolving credit facility borrowings (repayments), net
123,900

 
(148,700
)
 
42,600

Long-term borrowings
150,000

 
349,652

 
—

Repayment of long-term debt
—

 
(250,000
)
 
—

Proceeds from stock option exercise
943

 
963

 
1,739

Purchases to satisfy awards of common stock
(9,918
)
 
(12,635
)
 
(13,929
)
Dividends paid
(92,398
)
 
(84,433
)
 
(77,264
)
Other, net
(107
)
 
(2,414
)
 
(269
)
Net cash flows from financing activities
22,420

 
(97,567
)
 
(47,123
)
Change in Cash and Cash Equivalents
(14
)
 
72

 
(33
)
Cash and Cash Equivalents at Beginning of Period
93

 
21

 
54

Cash and Cash Equivalents at End of Period
$
79

 
$
93

 
$
21

Supplemental Cash Flow Disclosures:
 
 
 
 
 
Interest paid, net of amounts capitalized
$
18,702

 
$
15,450

 
$
10,899

Income taxes paid (refunded), net
$
—

 
$
—

 
$
—


SCHEDULE I
PNM RESOURCES, INC.
CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY
BALANCE SHEETS
 
 
December 31,
 
2019
 
2018
 
(In thousands)
Assets
 
 
 
Cash and cash equivalents
$
79

 
$
93

Intercompany receivables
79,059

 
82,539

Income taxes receivable
4,635

 
7,856

Other, net
2,876

 
5,635

Total current assets
86,649

 
96,123

Property, plant and equipment, net of accumulated depreciation of $14,583 and $13,518
24,313

 
25,413

Investment in subsidiaries
2,197,918

 
2,064,693

Other long-term assets
55,077

 
60,265

Total long-term assets
2,277,308

 
2,150,371

 
$
2,363,957

 
$
2,246,494

Liabilities and Stockholders’ Equity
 
 
 
Short-term debt
$
112,100

 
$
170,000

Short-term debt-affiliate
40,619

 
8,819

Current maturities of long-term debt
50,000

 
—

Accrued interest and taxes
5,239

 
4,885

Other current liabilities
25,450

 
23,297

Total current liabilities
233,408

 
207,001

Long-term debt
449,048

 
348,310

Other long-term liabilities
2,803

 
2,803

Total liabilities
685,259

 
558,114

Common stock (no par value; 120,000,000 shares authorized; issued and outstanding 79,653,624 shares)
1,150,552

 
1,153,112

Accumulated other comprehensive income (loss), net of tax
(99,377
)
 
(108,685
)
Retained earnings
627,523

 
643,953

Total common stockholders’ equity
1,678,698

 
1,688,380

 
$
2,363,957

 
$
2,246,494


See Notes 7, 8, 14, and 16 for information regarding commitments, contingencies, and maturities of long-term debt.