TXNM ENERGY INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
TXNM$58.10-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Comprehensive Income
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In thousands) | |||
| Net Earnings | $258,722 | $106,879 | $185,180 |
| Other Comprehensive Income: | |||
| Unrealized Gains on Available-for-Sale Debt Securities: | |||
| Net increase (decrease) in unrealized holding gains arising during the period, net of income tax (expense) benefit of $225, $(2,928), and $490 | (660) | 8,601 | (1,438) |
| Reclassification adjustment for (gains) included in net earnings, net of income tax expense of $3,330, $1,828, and $972 | (9,778) | (5,371) | (2,855) |
| Pension Liability Adjustment: | |||
| Experience gains (losses), net of income tax (expense) benefit of $815, $(353), and $1,159 | (2,395) | 1,036 | (3,406) |
| Reclassification adjustment for amortization of experience losses recognized as net periodic benefit cost, net of income tax (benefit) of $(1,236), $(1,212), and $(1,804) | 3,630 | 3,564 | 5,300 |
| Fair Value Adjustment for Cash Flow Hedges: | |||
| Change in fair market value, net of income tax (expense) of $3,876, $3,933, and $(3,121) | (11,384) | (11,550) | 9,164 |
| Reclassification adjustment for (gains) losses included in net earnings, net of income tax expense (benefit) of $(2,629), $(2,359), and $299 | 7,719 | 6,928 | (877) |
| Total Other Comprehensive Income (Loss) | (12,868) | 3,208 | 5,888 |
| Comprehensive Income | 245,854 | 110,087 | 191,068 |
| Comprehensive (Income) Attributable to Valencia Non-controlling Interest | (16,040) | (18,533) | (15,122) |
| Preferred Stock Dividend Requirements of Subsidiary | (528) | (528) | (528) |
| Comprehensive Income Attributable to TXNM | $229,286 | $91,026 | $175,418 |
B - 12
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In thousands) | |||
| Cash Flows From Operating Activities: | |||
| Net earnings | $258,722 | $106,879 | $185,180 |
| Adjustments to reconcile net earnings to net cash flows from operating activities: | |||
| Depreciation and amortization | 423,010 | 353,692 | 341,123 |
| Deferred income tax expense (benefit) | 43,050 | (13,509) | 24,533 |
| (Gain) on sale of NMRD | (4,449) | — | — |
| (Gains) losses on investment securities | (26,851) | (19,246) | 78,357 |
| Stock based compensation expense | 9,480 | 7,190 | 7,825 |
| Regulatory disallowances | 8,980 | 71,923 | 832 |
| Allowance for equity funds used during construction | (17,887) | (14,978) | (13,799) |
| Other, net | 4,165 | 804 | 2,377 |
| Changes in certain assets and liabilities: | |||
| Accounts receivable and unbilled revenues | (13,349) | 53,229 | (73,099) |
| Materials, supplies, and fuel stock | (33,804) | (31,301) | (8,528) |
| Other current assets | 31,967 | (52,225) | 17,159 |
| Other assets | (83,541) | (25,820) | 5,002 |
| Accounts payable | 10,021 | (33,536) | 47,568 |
| Accrued interest and taxes | 5,114 | 17,526 | 9,205 |
| Other current liabilities | (106,374) | 125,580 | (28,516) |
| Other liabilities | (94) | 4,963 | (27,935) |
| Net cash flows from operating activities | 508,160 | 551,171 | 567,284 |
| Cash Flows From Investing Activities: | |||
| Additions to utility and non-utility plant | (1,247,041) | (1,075,812) | (912,557) |
| Proceeds from sale of plant assets (Note 8) | 2,840 | 32,654 | — |
| Proceeds from sales of investment securities | 707,338 | 574,199 | 526,448 |
| Purchases of investment securities | (756,805) | (593,241) | (564,912) |
| Proceeds from sale of NMRD | 116,936 | — | — |
| Investments in NMRD | (12,550) | (26,250) | — |
| Other, net | 14,910 | 44 | 674 |
| Net cash flows used in investing activities | (1,174,372) | (1,088,406) | (950,347) |
B - 13
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In thousands) | |||
| Cash Flows From Financing Activities: | |||
| Revolving credit facilities borrowings | $2,892,200 | $2,358,900 | $1,829,500 |
| Revolving credit facilities repayments | (2,544,800) | (2,329,000) | (1,660,200) |
| Long-term borrowings | 1,233,000 | 1,358,096 | 558,000 |
| Repayment of long-term debt | (819,529) | (910,000) | (179,500) |
| Issuance of common stock | 98,601 | 198,177 | — |
| Awards of common stock | (8,460) | (9,646) | (7,980) |
| Dividends paid | (140,339) | (126,705) | (119,839) |
| Valencia’s transactions with its owner | (19,098) | (21,569) | (17,533) |
| Transmission interconnection and security deposit arrangements | 92,272 | 49,807 | 96,550 |
| Refunds paid under transmission interconnection and security deposit arrangements | (79,011) | (21,124) | (107,397) |
| Debt issuance costs and other, net | (20,482) | (9,836) | (5,564) |
| Net cash flows from financing activities | 684,354 | 537,100 | 386,037 |
| Change in Cash, Cash Equivalents, and Restricted Cash | 18,142 | (135) | 2,974 |
| Cash, Cash Equivalents, and Restricted Cash at Beginning of Year | 3,943 | 4,078 | 1,104 |
| Cash, Cash Equivalents, and Restricted Cash at End of Year | $22,085 | $3,943 | $4,078 |
| Restricted Cash Included in Other Current Assets and Other Deferred Charges on Consolidated Balance Sheets: | |||
| At beginning of period | $1,728 | $— | $— |
| At end of period | $17,587 | $1,728 | $— |
| Supplemental Cash Flow Disclosures: | |||
| Interest paid, net of amounts capitalized | $207,972 | $155,273 | $118,485 |
| Income taxes paid (refunded), net | $(998) | $1,505 | $(1,011) |
| Supplemental schedule of noncash investing and financing activities: | |||
| (Increase) decrease in accrued plant additions | $10,728 | $(23,002) | $4,455 |
B - 14
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