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Condensed Consolidated Balance Sheets - PNM - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 6,053 $ 4,498
Accounts receivable, net of allowance for credit losses of $1,353 and $1,398 132,378 130,351
Unbilled revenues 57,689 69,176
Other receivables 42,381 37,236
Materials, supplies, and fuel stock 168,244 166,861
Regulatory assets 40,897 41,492
Prepaid assets 26,286 25,452
Income taxes receivable 7,284 7,684
Other current assets 8,194 16,086
Total current assets 489,406 498,836
Other Property and Investments:    
Investment securities 470,179 475,524
Other investments 290 259
Non-utility property, net 28,686 28,832
Total other property and investments 499,155 504,615
Utility Plant:    
Plant in service and plant held for future use 10,800,198 10,697,774
Less accumulated depreciation and amortization 2,889,262 2,829,296
Net plant in service and plant held for future use 7,910,936 7,868,478
Construction work in progress 637,262 495,976
Nuclear fuel, net of accumulated amortization of $32,015 and $28,245 74,729 72,554
Net utility plant 8,622,927 8,437,008
Deferred Charges and Other Assets:    
Regulatory assets 957,305 962,003
Goodwill 278,297 278,297
Operating lease right-of-use assets, net of accumulated amortization 269,399 272,894
Other deferred charges 274,131 258,080
Total deferred charges and other assets 1,779,132 1,771,274
Total assets 11,390,620 11,211,733
Current Liabilities:    
Short-term debt 593,700 609,300
Current installments of long-term debt (includes $7,102 and $6,907 related to ETBC I) 671,858 611,603
Accounts payable 163,132 204,468
Customer deposits 6,556 6,533
Accrued interest and taxes 102,947 104,756
Regulatory liabilities 32,207 34,173
Operating lease liabilities 14,523 14,293
Dividends declared 37,891 36,889
Transmission interconnection arrangement liabilities 0 68,085
Other current liabilities 71,361 84,998
Total current liabilities 1,694,175 1,775,098
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs (includes $328,152 and $331,726 related to ETBC I) 4,582,713 4,311,765
Deferred Credits and Other Liabilities:    
Accumulated deferred income taxes 909,777 899,392
Regulatory liabilities 752,884 748,738
Asset retirement obligations 246,208 244,618
Accrued pension liability and postretirement benefit cost 20,559 23,065
Operating lease liabilities 253,493 255,376
Other deferred credits 368,575 358,867
Total deferred credits and other liabilities 2,551,496 2,530,056
Total liabilities 8,828,384 8,616,919
Commitments and Contingencies (Note 11)
Cumulative Preferred Stock without mandatory redemption requirements ($100 stated value; 10,000,000 shares authorized; issued and outstanding 115,293 shares) 11,529 11,529
PNM common stockholder’s equity:    
Common stock (no par value; 40,000,000 shares authorized; issued and outstanding 39,117,799 shares) 1,721,109 1,724,444
Accumulated other comprehensive income (loss), net of income taxes (74,586) (75,708)
Retained earnings 857,812 887,649
Total TXNM common stockholders’ equity 2,504,335 2,536,385
Non-controlling interest in Valencia 46,372 46,900
Total equity 2,550,707 2,583,285
Total liabilities and stockholders' equity 11,390,620 11,211,733
PNM    
Current Assets:    
Cash and cash equivalents 4,954 2,698
Accounts receivable, net of allowance for credit losses of $1,353 and $1,398 97,038 95,932
Unbilled revenues 43,086 52,983
Materials, supplies, and fuel stock 142,419 142,510
Regulatory assets 37,460 36,224
Prepaid assets 16,872 14,746
Income taxes receivable 16,311 16,309
Other current assets 8,267 16,091
Total current assets 408,214 410,908
Other Property and Investments:    
Investment securities 470,179 475,524
Other investments 215 184
Non-utility property, net 13,809 13,647
Total other property and investments 484,203 489,355
Utility Plant:    
Plant in service and plant held for future use 6,867,879 6,797,493
Less accumulated depreciation and amortization 2,112,546 2,079,363
Net plant in service and plant held for future use 4,755,333 4,718,130
Construction work in progress 355,461 328,403
Nuclear fuel, net of accumulated amortization of $32,015 and $28,245 74,729 72,554
Net utility plant 5,185,523 5,119,087
Deferred Charges and Other Assets:    
Regulatory assets 851,188 857,310
Goodwill 51,632 51,632
Operating lease right-of-use assets, net of accumulated amortization 268,291 271,433
Other deferred charges 222,765 207,554
Total deferred charges and other assets 1,393,876 1,387,929
Total assets 7,471,816 7,407,279
Current Liabilities:    
Short-term debt 298,300 363,800
Current installments of long-term debt (includes $7,102 and $6,907 related to ETBC I) 560,942 560,637
Customer deposits 6,556 6,533
Accrued interest and taxes 59,742 46,923
Regulatory liabilities 30,946 33,571
Operating lease liabilities 13,958 13,542
Dividends declared 132 132
Transmission interconnection arrangement liabilities 0 68,085
Other current liabilities 48,138 50,099
Total current liabilities 1,156,928 1,282,900
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs (includes $328,152 and $331,726 related to ETBC I) 2,090,616 1,898,955
Deferred Credits and Other Liabilities:    
Accumulated deferred income taxes 765,386 756,218
Regulatory liabilities 511,369 518,701
Asset retirement obligations 245,233 243,663
Accrued pension liability and postretirement benefit cost 19,758 22,067
Operating lease liabilities 252,963 254,702
Other deferred credits 232,297 234,346
Total deferred credits and other liabilities 2,027,006 2,029,697
Total liabilities 5,274,550 5,211,552
Commitments and Contingencies (Note 11)
Cumulative Preferred Stock without mandatory redemption requirements ($100 stated value; 10,000,000 shares authorized; issued and outstanding 115,293 shares) 11,529 11,529
PNM common stockholder’s equity:    
Common stock (no par value; 40,000,000 shares authorized; issued and outstanding 39,117,799 shares) 1,602,918 1,602,918
Accumulated other comprehensive income (loss), net of income taxes (74,586) (75,708)
Retained earnings 611,033 610,088
Total TXNM common stockholders’ equity 2,139,365 2,137,298
Non-controlling interest in Valencia 46,372 46,900
Total equity 2,185,737 2,184,198
Total liabilities and stockholders' equity 7,471,816 7,407,279
PNM | Nonrelated Party    
Current Assets:    
Other receivables 32,617 24,174
Current Liabilities:    
Short-term debt 298,300 363,800
Accounts payable 124,293 123,883
PNM | Related Party    
Current Assets:    
Other receivables 9,190 9,241
Current Liabilities:    
Short-term debt 1,600 0
Accounts payable $ 12,321 $ 15,695