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.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Comprehensive Income
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In thousands) | |||
| Net Earnings | $208,252 | $54,718 | $119,020 |
| Other Comprehensive Income: | |||
| Unrealized Gains on Available-for-Sale Debt Securities: | |||
| Net increase (decrease) in unrealized holding gains (losses) 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 |
| Total Other Comprehensive Income (Loss) | (9,203) | 7,830 | (2,399) |
| Comprehensive Income | 199,049 | 62,548 | 116,621 |
| Comprehensive (Income) Attributable to Valencia Non-controlling Interest | (16,040) | (18,533) | (15,122) |
| Comprehensive Income Attributable to PNM | $183,009 | $44,015 | $101,499 |
B - 19
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In thousands) | |||
| Cash Flows From Operating Activities: | |||
| Net earnings | $208,252 | $54,718 | $119,020 |
| Adjustments to reconcile net earnings to net cash flows from operating activities: | |||
| Depreciation and amortization | 250,042 | 202,885 | 213,517 |
| Deferred income tax expense (benefit) | 41,903 | (21,972) | 29,487 |
| (Gains) losses on investment securities | (26,851) | (19,246) | 78,357 |
| Regulatory disallowances | 8,980 | 70,750 | 832 |
| Allowance for equity funds used during construction | (13,043) | (9,832) | (9,323) |
| Other, net | 4,459 | 3,485 | 3,758 |
| Changes in certain assets and liabilities: | |||
| Accounts receivable and unbilled revenues | (11,295) | 51,314 | (60,743) |
| Materials, supplies, and fuel stock | (25,915) | (25,681) | (4,804) |
| Other current assets | 19,943 | (54,934) | 17,956 |
| Other assets | (33,013) | (20,956) | 5,487 |
| Accounts payable | 8,135 | (30,423) | 48,868 |
| Accrued interest and taxes | (3,041) | 16,091 | (19,574) |
| Other current liabilities | (99,353) | 123,048 | (41,876) |
| Other liabilities | (7,691) | 4,588 | (26,029) |
| Net cash flows from operating activities | 321,512 | 343,835 | 354,933 |
| Cash Flows From Investing Activities: | |||
| Utility plant additions | (682,412) | (565,080) | (433,459) |
| 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) |
| Other, net | 14,885 | 7 | 439 |
| Net cash flows used in investing activities | (714,154) | (551,461) | (471,484) |
B - 20
| Year ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In thousands) | |||
| Cash Flows From Financing Activities: | |||
| Revolving credit facilities borrowings | $1,433,200 | $1,114,300 | $708,600 |
| Revolving credit facilities repayments | (1,206,900) | (1,162,700) | (530,100) |
| Long-term borrowings | 398,000 | 673,096 | 298,000 |
| Repayment of long-term debt | (200,529) | (410,000) | (179,500) |
| Equity contribution from parent | 55,000 | — | — |
| Dividends paid | (51,529) | (528) | (154,028) |
| Valencia’s transactions with its owner | (19,098) | (21,569) | (17,533) |
| Transmission interconnection and security deposit arrangements | 81,022 | 38,807 | 90,150 |
| Refunds paid under transmission interconnection and security deposit arrangements | (74,161) | (17,624) | (93,247) |
| Debt issuance costs and other, net | (4,664) | (6,555) | (2,825) |
| Net cash flows from financing activities | 410,341 | 207,227 | 119,517 |
| Change in Cash, Cash Equivalents, and Restricted Cash | 17,699 | (399) | 2,966 |
| Cash, Cash Equivalents, and Restricted Cash at Beginning of Year | 2,586 | 2,985 | 19 |
| Cash, Cash Equivalents, and Restricted Cash at End of Year | $20,285 | $2,586 | $2,985 |
| 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 | $85,100 | $66,456 | $54,816 |
| Income taxes paid (refunded), net | $(4,058) | $(5,338) | $11,602 |
| Supplemental schedule of noncash investing activities: | |||
| (Increase) decrease in accrued plant additions | $25,955 | $(8,604) | $(6,859) |
B - 21
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