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Condensed Consolidated Balance Sheets - PNM - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 32,066 $ 4,498
Accounts receivable, net of allowance for credit losses of $1,348 and $1,398 190,913 130,351
Unbilled revenues 82,440 69,176
Other receivables 42,256 37,236
Materials, supplies, and fuel stock 172,986 166,861
Regulatory assets 29,157 41,492
Prepaid assets 30,721 25,452
Income taxes receivable 8,642 7,684
Other current assets 6,255 16,086
Total current assets 595,436 498,836
Other Property and Investments:    
Investment securities 493,895 475,524
Other investments 268 259
Non-utility property, net 36,678 28,832
Total other property and investments 530,841 504,615
Utility Plant:    
Plant in service and plant held for future use 11,109,319 10,697,774
Less accumulated depreciation and amortization 2,966,615 2,829,296
Net plant in service and plant held for future use 8,142,704 7,868,478
Construction work in progress 791,841 495,976
Nuclear fuel, net of accumulated amortization of $36,411 and $28,245 75,723 72,554
Net utility plant 9,010,268 8,437,008
Deferred Charges and Other Assets:    
Regulatory assets 953,075 962,003
Goodwill 278,297 278,297
Operating lease right-of-use assets, net of accumulated amortization 320,127 272,894
Other deferred charges 283,490 258,080
Total deferred charges and other assets 1,834,989 1,771,274
Total assets 11,971,534 11,211,733
Current Liabilities:    
Short-term debt 313,800 609,300
Current installments of long-term debt (includes $7,303 and $6,907 related to ETBC I) 402,311 611,603
Accounts payable 154,416 204,468
Customer deposits 6,688 6,533
Accrued interest and taxes 134,484 104,756
Regulatory liabilities 23,708 34,173
Operating lease liabilities 15,366 14,293
Dividends declared 43,074 36,889
Transmission interconnection arrangement liabilities 0 68,085
Other current liabilities 82,373 84,998
Total current liabilities 1,176,220 1,775,098
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs (includes $324,504 and $331,726 related to ETBC I) 4,680,365 4,311,765
Deferred Credits and Other Liabilities:    
Accumulated deferred income taxes 945,750 899,392
Regulatory liabilities 760,536 748,738
Asset retirement obligations 248,461 244,618
Accrued pension liability and postretirement benefit cost 15,696 23,065
Operating lease liabilities 300,165 255,376
Other deferred credits 371,467 358,867
Total deferred credits and other liabilities 2,642,075 2,530,056
Total liabilities 8,498,660 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) 2,565,578 1,724,444
Accumulated other comprehensive income (loss), net of income taxes (73,754) (75,708)
Retained earnings 924,214 887,649
Total TXNM common stockholders’ equity 3,416,038 2,536,385
Non-controlling interest in Valencia 45,307 46,900
Total equity 3,461,345 2,583,285
Total liabilities and stockholders' equity 11,971,534 11,211,733
PNM    
Current Assets:    
Cash and cash equivalents 9,166 2,698
Accounts receivable, net of allowance for credit losses of $1,348 and $1,398 139,929 95,932
Unbilled revenues 59,528 52,983
Materials, supplies, and fuel stock 142,396 142,510
Regulatory assets 29,157 36,224
Prepaid assets 19,482 14,746
Income taxes receivable 16,652 16,309
Other current assets 6,277 16,091
Total current assets 454,383 410,908
Other Property and Investments:    
Investment securities 493,895 475,524
Other investments 268 184
Non-utility property, net 15,497 13,647
Total other property and investments 509,660 489,355
Utility Plant:    
Plant in service and plant held for future use 6,992,482 6,797,493
Less accumulated depreciation and amortization 2,170,103 2,079,363
Net plant in service and plant held for future use 4,822,379 4,718,130
Construction work in progress 487,546 328,403
Nuclear fuel, net of accumulated amortization of $36,411 and $28,245 75,723 72,554
Net utility plant 5,385,648 5,119,087
Deferred Charges and Other Assets:    
Regulatory assets 839,091 857,310
Goodwill 51,632 51,632
Operating lease right-of-use assets, net of accumulated amortization 319,432 271,433
Other deferred charges 233,460 207,554
Total deferred charges and other assets 1,443,615 1,387,929
Total assets 7,793,306 7,407,279
Current Liabilities:    
Short-term debt 158,300 363,800
Current installments of long-term debt (includes $7,303 and $6,907 related to ETBC I) 402,311 560,637
Customer deposits 6,688 6,533
Accrued interest and taxes 69,940 46,923
Regulatory liabilities 21,152 33,571
Operating lease liabilities 15,164 13,542
Dividends declared 132 132
Transmission interconnection arrangement liabilities 0 68,085
Other current liabilities 48,943 50,099
Total current liabilities 845,961 1,282,900
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs (includes $324,504 and $331,726 related to ETBC I) 2,539,180 1,898,955
Deferred Credits and Other Liabilities:    
Accumulated deferred income taxes 794,421 756,218
Regulatory liabilities 499,955 518,701
Asset retirement obligations 247,446 243,663
Accrued pension liability and postretirement benefit cost 15,288 22,067
Operating lease liabilities 299,662 254,702
Other deferred credits 226,422 234,346
Total deferred credits and other liabilities 2,083,194 2,029,697
Total liabilities 5,468,335 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 (72,607) (75,708)
Retained earnings 737,824 610,088
Total TXNM common stockholders’ equity 2,268,135 2,137,298
Non-controlling interest in Valencia 45,307 46,900
Total equity 2,313,442 2,184,198
Total liabilities and stockholders' equity 7,793,306 7,407,279
PNM | Nonrelated Party    
Current Assets:    
Other receivables 23,047 24,174
Current Liabilities:    
Short-term debt 158,300 363,800
Accounts payable 108,877 123,883
PNM | Related Party    
Current Assets:    
Other receivables 8,749 9,241
Current Liabilities:    
Accounts payable $ 14,454 $ 15,695