PUBLIC SERVICE CO OF NEW MEXICO
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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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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Consolidated Statements of Changes in Equity
| Attributable to PNMR · Non-controllingInterestin Valencia | ||||||
|---|---|---|---|---|---|---|
| Total PNMR Common Stockholder’s Equity | ||||||
| CommonStock · AOCI · RetainedEarnings · TotalEquity | ||||||
| (In thousands) | ||||||
| Balance at December 31, 2020 | $1,429,941 | $(79,183) | $698,707 | $2,049,465 | $59,009 | $2,108,474 |
| Net earnings before subsidiary preferred stock dividends | — | — | 196,357 | 196,357 | 15,490 | 211,847 |
| Total other comprehensive income | — | 7,247 | — | 7,247 | — | 7,247 |
| Subsidiary preferred stock dividends | — | — | (528) | (528) | — | (528) |
| Dividends declared on common stock | — | — | (84,333) | (84,333) | — | (84,333) |
| Proceeds from stock option exercise | — | — | — | — | — | — |
| Awards of common stock | (10,130) | — | — | (10,130) | — | (10,130) |
| Stock based compensation expense | 9,446 | — | — | 9,446 | — | 9,446 |
| Valencia’s transactions with its owner | — | — | — | — | (19,094) | (19,094) |
| Balance at December 31, 2021 | 1,429,257 | (71,936) | 810,203 | 2,167,524 | 55,405 | 2,222,929 |
| Net earnings before subsidiary preferred stock dividends | — | — | 170,058 | 170,058 | 15,122 | 185,180 |
| Total other comprehensive income | — | 5,888 | — | 5,888 | — | 5,888 |
| Subsidiary preferred stock dividends | — | — | (528) | (528) | — | (528) |
| Dividends declared on common stock | — | — | (150,855) | (150,855) | — | (150,855) |
| Awards of common stock | (7,980) | — | — | (7,980) | — | (7,980) |
| Stock based compensation expense | 7,825 | — | — | 7,825 | — | 7,825 |
| Valencia’s transactions with its owner | — | — | — | — | (17,533) | (17,533) |
| Balance at December 31, 2022 | 1,429,102 | (66,048) | 828,878 | 2,191,932 | 52,994 | 2,244,926 |
| Net earnings before subsidiary preferred stock dividends | — | — | 88,346 | 88,346 | 18,533 | 106,879 |
| Total other comprehensive income | — | 3,208 | — | 3,208 | — | 3,208 |
| Subsidiary preferred stock dividends | — | — | (528) | (528) | — | (528) |
| Dividends declared on common stock | — | — | (129,586) | (129,586) | — | (129,586) |
| Awards of common stock | (9,646) | — | — | (9,646) | — | (9,646) |
| Issuance of common stock | 198,177 | — | — | 198,177 | — | 198,177 |
| Stock based compensation expense | 7,190 | — | — | 7,190 | — | 7,190 |
| Valencia’s transactions with its owner | — | — | — | — | (21,569) | (21,569) |
| Balance at December 31, 2023 | $1,624,823 | $(62,840) | $787,110 | $2,349,093 | $49,958 | $2,399,051 |
B - 17
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (In thousands) | |||
| Electric Operating Revenues | $1,403,948 | $1,766,825 | $1,362,020 |
| Operating Expenses: | |||
| Cost of energy | 663,614 | 864,013 | 531,786 |
| Administrative and general | 206,650 | 204,846 | 196,719 |
| Energy production costs | 91,610 | 147,347 | 143,931 |
| Regulatory disallowances and restructuring costs | 70,750 | 832 | 1,194 |
| Depreciation and amortization | 177,633 | 180,812 | 170,365 |
| Transmission and distribution costs | 61,725 | 58,278 | 49,846 |
| Taxes other than income taxes | 48,790 | 49,210 | 46,682 |
| Total operating expenses | 1,320,772 | 1,505,338 | 1,140,523 |
| Operating income | 83,176 | 261,487 | 221,497 |
| Other Income and Deductions: | |||
| Interest income | 21,355 | 14,816 | 14,605 |
| Gains (losses) on investment securities | 19,246 | (78,357) | 16,850 |
| Other income | 11,638 | 10,763 | 11,390 |
| Other (deductions) | (10,881) | (9,418) | (14,431) |
| Net other income and (deductions) | 41,358 | (62,196) | 28,414 |
| Interest Charges | 86,574 | 61,073 | 51,360 |
| Earnings before Income Taxes | 37,960 | 138,218 | 198,551 |
| Income Taxes (Benefits) | (16,758) | 19,198 | 26,992 |
| Net Earnings | 54,718 | 119,020 | 171,559 |
| (Earnings) Attributable to Valencia Non-controlling Interest | (18,533) | (15,122) | (15,490) |
| Net Earnings Attributable to PNM | 36,185 | 103,898 | 156,069 |
| Preferred Stock Dividends Requirements | (528) | (528) | (528) |
| Net Earnings Available for PNM Common Stock | $35,657 | $103,370 | $155,541 |
B - 18
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