PUBLIC SERVICE CO OF NEW MEXICO

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

TXNM$58.28+0.1%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets

	December 31,
	2023	2022
(In thousands)
ASSETS
Current Assets:
Cash and cash equivalents	$2,215	$4,078
Accounts receivable, net of allowance for credit losses of $3,388 and $4,925	126,291	183,669
Unbilled revenues	64,072	63,473
Other receivables	76,509	20,320
Materials, supplies, and fuel stock	98,034	66,733
Regulatory assets	73,046	20,265
Prepaid assets	19,759	18,465
Income taxes receivable	6,697	2,351
Other current assets	8,920	31,624
Total current assets	475,543	410,978
Other Property and Investments:
Investment securities	444,408	417,476
Equity investment in NMRD	119,570	90,620
Other investments	171	177
Non-utility property, including financing leases	29,367	26,841
Total other property and investments	593,516	535,114
Utility Plant:
Plant in service, held for future use, and to be abandoned	9,701,180	9,164,564
Less accumulated depreciation and amortization	2,755,823	2,659,952
	6,945,357	6,504,612
Construction work in progress	589,834	372,988
Nuclear fuel, net of accumulated amortization of $35,840 and $43,985	74,671	95,223
Net utility plant	7,609,862	6,972,823
Deferred Charges and Other Assets:
Regulatory assets	914,381	846,686
Goodwill	278,297	278,297
Operating lease right-of-use assets, net of accumulated amortization	182,201	55,982
Other deferred charges	198,805	157,497
Total deferred charges and other assets	1,573,684	1,338,462
	$10,252,605	$9,257,377

B - 15

	December 31,
	2023	2022
(In thousands, except shareinformation)
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Short-term debt	$261,900	$232,000
Current installments of long-term debt (includes $2,529 and $0 related to ETBC I)	280,169	184,793
Accounts payable	205,175	215,708
Customer deposits	6,237	6,117
Accrued interest and taxes	98,655	76,783
Regulatory liabilities	140,005	17,002
Operating lease liabilities	12,267	18,781
Dividends declared	35,085	31,676
Transmission interconnection arrangement liabilities	96,870	20,473
Other current liabilities	94,397	87,037
Total current liabilities	1,230,760	890,370
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs (includes $338,521 and $0 related to ETBC I)	4,241,642	3,892,594
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	845,280	822,831
Regulatory liabilities	771,317	755,202
Asset retirement obligations	245,531	223,377
Accrued pension liability and postretirement benefit cost	21,429	32,799
Operating lease liabilities	167,000	41,336
Other deferred credits	319,066	342,413
Total deferred credits and other liabilities	2,369,623	2,217,958
Total liabilities	7,842,025	7,000,922
Commitments and Contingencies (See Note 16)
Cumulative Preferred Stock of Subsidiary
without mandatory redemption requirements ($100 stated value; 10,000,000 shares authorized; issued and outstanding 115,293 shares)	11,529	11,529
Equity:
PNMR common stockholders’ equity:
Common stock (no par value; 120,000,000 shares authorized; issued and outstanding 90,200,384 and 85,834,874 shares)	1,624,823	1,429,102
Accumulated other comprehensive income (loss), net of income taxes	(62,840)	(66,048)
Retained earnings	787,110	828,878
Total PNMR common stockholders’ equity	2,349,093	2,191,932
Non-controlling interest in Valencia	49,958	52,994
Total equity	2,399,051	2,244,926
	$10,252,605	$9,257,377

B - 16

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