TXNM ENERGY INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
TXNM$58.28+0.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Changes in Equity
| Attributable to PNM | ||||||
|---|---|---|---|---|---|---|
| CommonStock | AOCI | RetainedEarnings | Total PNMCommonStockholder’sEquity | Non-controllingInterestin Valencia | TotalEquity | |
| (In thousands) | ||||||
| Balance at December 31, 2021 | $1,547,918 | $(71,936) | $483,877 | $1,959,859 | $55,405 | $2,015,264 |
| Net earnings | — | — | 103,898 | 103,898 | 15,122 | 119,020 |
| Total other comprehensive income (loss) | — | (2,399) | — | (2,399) | — | (2,399) |
| Dividends declared on preferred stock | — | — | (528) | (528) | — | (528) |
| Dividends declared on common stock | — | — | (153,500) | (153,500) | — | (153,500) |
| Valencia’s transactions with its owner | — | — | — | — | (17,533) | (17,533) |
| Balance at December 31, 2022 | 1,547,918 | (74,335) | 433,747 | 1,907,330 | 52,994 | 1,960,324 |
| Net earnings | — | — | 36,185 | 36,185 | 18,533 | 54,718 |
| Total other comprehensive income | — | 7,830 | — | 7,830 | — | 7,830 |
| Dividends declared on preferred stock | — | — | (528) | (528) | — | (528) |
| Valencia’s transactions with its owner | — | — | — | — | (21,569) | (21,569) |
| Balance at December 31, 2023 | 1,547,918 | (66,505) | 469,404 | 1,950,817 | 49,958 | 2,000,775 |
| Net earnings | — | — | 192,212 | 192,212 | 16,040 | 208,252 |
| Total other comprehensive income (loss) | — | (9,203) | — | (9,203) | — | (9,203) |
| Dividends declared on preferred stock | — | — | (528) | (528) | — | (528) |
| Equity contribution from parent | 55,000 | — | — | 55,000 | — | 55,000 |
| Dividends declared on common stock | — | — | (51,000) | (51,000) | — | (51,000) |
| Valencia’s transactions with its owner | — | — | — | — | (19,098) | (19,098) |
| Balance at December 31, 2024 | $1,602,918 | $(75,708) | $610,088 | $2,137,298 | $46,900 | $2,184,198 |
B - 24
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In thousands) | |||
| Electric Operating Revenues | $592,111 | $535,250 | $482,730 |
| Operating Expenses: | |||
| Cost of energy | 149,066 | 138,647 | 123,928 |
| Administrative and general | 54,711 | 53,963 | 49,592 |
| Regulatory disallowances | — | 1,173 | — |
| Depreciation and amortization | 125,915 | 113,142 | 98,316 |
| Transmission and distribution costs | 37,078 | 36,996 | 36,406 |
| Taxes other than income taxes | 44,441 | 41,311 | 38,521 |
| Total operating expenses | 411,211 | 385,232 | 346,763 |
| Operating income | 180,900 | 150,018 | 135,967 |
| Other Income and Deductions: | |||
| Other income | 12,305 | 10,127 | 10,641 |
| Other (deductions) | (3,580) | (1,759) | (1,988) |
| Net other income | 8,725 | 8,368 | 8,653 |
| Interest Charges | 58,983 | 46,152 | 37,192 |
| Earnings before Income Taxes | 130,642 | 112,234 | 107,428 |
| Income Taxes | 27,114 | 17,297 | 15,161 |
| Net Earnings | $103,528 | $94,937 | $92,267 |
B - 25
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In thousands) | |||
| Cash Flows From Operating Activities: | |||
| Net earnings | $103,528 | $94,937 | $92,267 |
| Adjustments to reconcile net earnings to net cash flows from operating activities: | |||
| Depreciation and amortization | 126,868 | 113,854 | 99,165 |
| Deferred income tax (benefit) | 26,363 | 2,888 | (4,556) |
| Regulatory disallowances | — | 1,173 | — |
| Allowance for equity funds used during construction and other, net | (5,222) | (5,145) | (4,477) |
| Changes in certain assets and liabilities: | |||
| Accounts receivable and unbilled revenues | (2,053) | 1,916 | (12,356) |
| Materials and supplies | (7,889) | (5,620) | (3,723) |
| Other current assets | 11,063 | 3,650 | (264) |
| Other assets | (33,601) | 3,109 | 3,834 |
| Accounts payable | (832) | 171 | 195 |
| Accrued interest and taxes | (818) | 2,886 | 14,667 |
| Other current liabilities | (5,355) | (156) | 11,952 |
| Other liabilities | 1,564 | 949 | (1,757) |
| Net cash flows from operating activities | 213,616 | 214,612 | 194,947 |
| Cash Flows From Investing Activities: | |||
| Utility plant additions | (541,604) | (464,436) | (449,534) |
| Net cash flows used in investing activities | (541,604) | (464,436) | (449,534) |
B - 26
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In thousands) | |||
| Cash Flow From Financing Activities: | |||
| Revolving credit facilities borrowings | $637,000 | $407,600 | $480,500 |
| Revolving credit facilities repayments | (540,500) | (389,200) | (444,200) |
| Long-term borrowings | 285,000 | 185,000 | 160,000 |
| Repayment of long-term debt | (80,000) | — | — |
| Transmission interconnection arrangements | 11,250 | 11,000 | 6,400 |
| Refunds paid under transmission interconnection and security deposit arrangements | (4,850) | (3,500) | (14,150) |
| Equity contribution from parent | 24,000 | 40,900 | 68,000 |
| Debt issuance costs and other, net | (3,679) | (1,976) | (1,963) |
| Net cash flows from financing activities | 328,221 | 249,824 | 254,587 |
| Change in Cash and Cash Equivalents | 233 | — | — |
| Cash and Cash Equivalents at Beginning of Year | — | — | — |
| Cash and Cash Equivalents at End of Year | $233 | $— | $— |
| Supplemental Cash Flow Disclosures: | |||
| Interest paid, net of amounts capitalized | $50,956 | $41,847 | $33,974 |
| Income taxes paid, net | $11,021 | $16,904 | $9,245 |
| Supplemental schedule of noncash investing activities: | |||
| (Increase) decrease in accrued plant additions | $(16,328) | $(17,297) | $(9,131) |
B - 27
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