PUBLIC SERVICE CO OF NEW MEXICO

For the period ended Dec 31, 2025. Filed Feb 27, 2026.

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.

FY2025 · Filed Feb 27, 2026

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

Item 8. Consolidated Balance Sheets

	December 31,
	2025	2024
(In thousands)
ASSETS
Current Assets:
Cash and cash equivalents	$15,251	$233
Accounts receivable	35,894	34,419
Unbilled revenues	19,690	16,193
Other receivables	22,633	15,144
Affiliate receivables	565	—
Materials and supplies	35,653	24,351
Regulatory assets	33,286	5,268
Other current assets	5,603	4,908
Total current assets	168,575	100,516
Other Property and Investments:
Other investments	—	75
Non-utility property, including financing leases	21,153	13,137
Total other property and investments	21,153	13,212
Utility Plant:
Plant in service and plant held for future use	4,065,890	3,635,550
Less accumulated depreciation and amortization	679,035	616,741
	3,386,855	3,018,809
Construction work in progress	254,810	165,527
Net utility plant	3,641,665	3,184,336
Deferred Charges and Other Assets:
Regulatory assets	106,458	104,693
Goodwill	226,665	226,665
Operating lease right-of-use assets, net of accumulated amortization	39	923
Other deferred charges	23,163	18,780
Total deferred charges and other assets	356,325	351,061
	$4,187,718	$3,649,125

B - 28

	December 31,
	2025	2024
(In thousands, except shareinformation)
LIABILITIES AND STOCKHOLDER’S EQUITY
Current Liabilities:
Short-term debt	$—	$151,600
Accounts payable	57,444	67,116
Affiliate payables	8,100	7,339
Accrued interest and taxes	72,129	56,740
Regulatory liabilities	2,592	602
Operating lease liabilities	15	713
Other current liabilities	14,618	6,964
Total current liabilities	154,898	291,074
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs	1,672,267	1,464,079
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	229,375	208,107
Regulatory liabilities	268,913	230,037
Asset retirement obligations	744	955
Accrued pension liability and postretirement benefit cost	—	998
Operating lease liabilities	24	167
Other deferred credits	122,018	88,519
Total deferred credits and other liabilities	621,074	528,783
Total liabilities	2,448,239	2,283,936
Commitments and Contingencies (See Note 16)
Common Stockholder’s Equity:
Common stock ($10 par value; 12,000,000 shares authorized; issued and outstanding 6,358 shares)	64	64
Paid-in-capital	1,120,066	870,066
Retained earnings	619,349	495,059
Total common stockholder’s equity	1,739,479	1,365,189
	$4,187,718	$3,649,125

B - 29

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.