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$58.10-0.3%Stored close · as of Nov 10, 2026

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

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Contents

Schedule I - Condensed Financial Information of Parent Company

STATEMENTS OF EARNINGS

	Year ended December 31,
	2023	2022	2021
(In thousands)
Operating Revenues	$—	$—	$—
Operating Expenses	4,972	6,199	15,044
Operating (loss)	(4,972)	(6,199)	(15,044)
Other Income and Deductions:
Equity in earnings of subsidiaries	133,628	197,860	221,004
Other income	2,245	663	362
Net other income and (deductions)	135,873	198,523	221,366
Interest Charges	58,934	30,430	11,986
Earnings Before Income Taxes	71,967	161,894	194,336
Income Tax (Benefit)	(15,851)	(7,636)	(1,493)
Net Earnings	$87,818	$169,530	$195,829

B - 114

STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2023	2022	2021
(In thousands)
Cash Flows From Operating Activities:
Net Cash Flows From Operating Activities	$(31,368)	$(10,261)	$(28,514)
Cash Flows From Investing Activities:
Utility plant additions	1,138	1,136	543
Investments in subsidiaries	(85,500)	(70,200)	(178,071)
Cash dividends from subsidiaries	—	153,500	60,000
Net cash flows from investing activities	(84,362)	84,436	(117,528)
Cash Flows From Financing Activities:
Short-term borrowings (repayments) -affiliate, net	(5,300)	(700)	6,400
Revolving credit facility borrowings (repayments), net	59,900	(45,500)	42,900
Long-term borrowings	500,000	100,000	1,120,000
Repayment of long-term debt	(500,000)	—	(900,000)
Issuance of common stock	198,177	—	—
Awards of common stock	(9,646)	(7,980)	(10,130)
Dividends paid	(126,177)	(119,311)	(112,444)
Other, net	(1,221)	(686)	(673)
Net cash flows from financing activities	115,733	(74,177)	146,053
Change in Cash and Cash Equivalents	3	(2)	11
Cash and Cash Equivalents at Beginning of Period	61	63	52
Cash and Cash Equivalents at End of Period	$64	$61	$63
Supplemental Cash Flow Disclosures:
Interest paid, net of amounts capitalized	$47,122	$29,904	$13,425
Income taxes paid (refunded), net	$350	$(2,500)	$—

B - 115

BALANCE SHEETS

	December 31,
	2023	2022
(In thousands)
Assets
Cash and cash equivalents	$64	$61
Intercompany receivables	55,575	55,304
Derivative instruments	7,172	11,108
Income taxes receivable	8,266	1,298
Other current assets	133	83
Total current assets	71,210	67,854
Property, plant and equipment, net of accumulated depreciation of $18,810 and $17,721	20,374	21,513
Investment in subsidiaries	3,345,400	3,118,442
Other long-term assets	44,628	45,501
Total long-term assets	3,410,402	3,185,456
	$3,481,612	$3,253,310
Liabilities and Stockholders’ Equity
Short-term debt	69,300	9,400
Short-term debt-affiliate	9,219	14,519
Accrued interest and taxes	14,650	3,302
Dividends declared	34,953	31,544
Other current liabilities	184	197
Total current liabilities	128,306	58,962
Long-term debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs	999,151	999,612
Other long-term liabilities	5,062	2,804
Total liabilities	1,132,519	1,061,378
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 common stockholders’ equity	2,349,093	2,191,932
	$3,481,612	$3,253,310

See Notes 7, 8, 11, and 16 for information regarding commitments, contingencies, and maturities of long-term debt.

B - 116

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.