XML 34 R13.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Balance Sheets - PNM - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 22,170 $ 4,498
Accounts receivable, net of allowance for credit losses of $1,319 and $1,398 146,444 130,351
Unbilled revenues 81,989 69,176
Other receivables 46,981 37,236
Materials, supplies, and fuel stock 171,174 166,861
Regulatory assets 41,891 41,492
Prepaid assets 39,869 25,452
Income taxes receivable 9,486 7,684
Other current assets 13,723 16,086
Total current assets 573,727 498,836
Other Property and Investments:    
Investment securities 487,033 475,524
Other investments 246 259
Non-utility property, net 32,218 28,832
Total other property and investments 519,497 504,615
Utility Plant:    
Plant in service and plant held for future use 10,965,483 10,697,774
Less accumulated depreciation and amortization 2,904,763 2,829,296
Net plant in service and plant held for future use 8,060,720 7,868,478
Construction work in progress 677,897 495,976
Nuclear fuel, net of accumulated amortization of $32,051 and $28,245 76,887 72,554
Net utility plant 8,815,504 8,437,008
Deferred Charges and Other Assets:    
Regulatory assets 953,795 962,003
Goodwill 278,297 278,297
Operating lease right-of-use assets, net of accumulated amortization 265,919 272,894
Other deferred charges 268,525 258,080
Total deferred charges and other assets 1,766,536 1,771,274
Total assets 11,675,264 11,211,733
Current Liabilities:    
Short-term debt 345,700 609,300
Current installments of long-term debt (includes $7,102 and $6,907 related to ETBC I) 416,701 611,603
Accounts payable 147,646 204,468
Customer deposits 6,509 6,533
Accrued interest and taxes 86,970 104,756
Regulatory liabilities 21,787 34,173
Operating lease liabilities 13,640 14,293
Dividends declared 132 36,889
Transmission interconnection arrangement liabilities 0 68,085
Other current liabilities 81,313 84,998
Total current liabilities 1,120,398 1,775,098
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs (includes $328,179 and $331,726 related to ETBC I) 4,782,536 4,311,765
Deferred Credits and Other Liabilities:    
Accumulated deferred income taxes 918,217 899,392
Regulatory liabilities 751,467 748,738
Asset retirement obligations 246,647 244,618
Accrued pension liability and postretirement benefit cost 18,211 23,065
Operating lease liabilities 245,847 255,376
Other deferred credits 363,618 358,867
Total deferred credits and other liabilities 2,544,007 2,530,056
Total liabilities 8,446,941 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) 2,366,770 1,724,444
Accumulated other comprehensive income (loss), net of income taxes (75,393) (75,708)
Retained earnings 879,388 887,649
Total TXNM common stockholders’ equity 3,170,765 2,536,385
Non-controlling interest in Valencia 46,029 46,900
Total equity 3,216,794 2,583,285
Total liabilities and stockholders' equity 11,675,264 11,211,733
PNM    
Current Assets:    
Cash and cash equivalents 4,973 2,698
Accounts receivable, net of allowance for credit losses of $1,319 and $1,398 106,747 95,932
Unbilled revenues 61,194 52,983
Materials, supplies, and fuel stock 142,884 142,510
Regulatory assets 32,920 36,224
Prepaid assets 25,200 14,746
Income taxes receivable 16,376 16,309
Other current assets 13,711 16,091
Total current assets 443,735 410,908
Other Property and Investments:    
Investment securities 487,033 475,524
Other investments 246 184
Non-utility property, net 13,998 13,647
Total other property and investments 501,277 489,355
Utility Plant:    
Plant in service and plant held for future use 6,929,296 6,797,493
Less accumulated depreciation and amortization 2,131,450 2,079,363
Net plant in service and plant held for future use 4,797,846 4,718,130
Construction work in progress 392,455 328,403
Nuclear fuel, net of accumulated amortization of $32,051 and $28,245 76,887 72,554
Net utility plant 5,267,188 5,119,087
Deferred Charges and Other Assets:    
Regulatory assets 845,630 857,310
Goodwill 51,632 51,632
Operating lease right-of-use assets, net of accumulated amortization 265,016 271,433
Other deferred charges 218,962 207,554
Total deferred charges and other assets 1,381,240 1,387,929
Total assets 7,593,440 7,407,279
Current Liabilities:    
Short-term debt 234,600 363,800
Current installments of long-term debt (includes $7,102 and $6,907 related to ETBC I) 206,995 560,637
Customer deposits 6,509 6,533
Accrued interest and taxes 51,447 46,923
Regulatory liabilities 21,787 33,571
Operating lease liabilities 13,253 13,542
Dividends declared 132 132
Transmission interconnection arrangement liabilities 0 68,085
Other current liabilities 54,832 50,099
Total current liabilities 719,205 1,282,900
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs (includes $328,179 and $331,726 related to ETBC I) 2,639,407 1,898,955
Deferred Credits and Other Liabilities:    
Accumulated deferred income taxes 775,235 756,218
Regulatory liabilities 502,243 518,701
Asset retirement obligations 245,652 243,663
Accrued pension liability and postretirement benefit cost 17,607 22,067
Operating lease liabilities 245,330 254,702
Other deferred credits 226,423 234,346
Total deferred credits and other liabilities 2,012,490 2,029,697
Total liabilities 5,371,102 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 (73,533) (75,708)
Retained earnings 635,395 610,088
Total TXNM common stockholders’ equity 2,164,780 2,137,298
Non-controlling interest in Valencia 46,029 46,900
Total equity 2,210,809 2,184,198
Total liabilities and stockholders' equity 7,593,440 7,407,279
PNM | Nonrelated Party    
Current Assets:    
Other receivables 30,847 24,174
Current Liabilities:    
Short-term debt 234,600 363,800
Accounts payable 98,057 123,883
PNM | Related Party    
Current Assets:    
Other receivables 8,883 9,241
Current Liabilities:    
Accounts payable $ 31,593 $ 15,695