XML 76 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash Flows From Operating Activities:    
Net Earnings $ 16,131 $ 13,962
Net earnings 12,468 10,626
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 51,949 51,818
Deferred income tax expense 6,276 7,795
Net unrealized (gains) losses on commodity derivatives 2,761 4,902
Realized (gains) on available-for-sale securities (2,573) (1,530)
Stock based compensation expense 2,131 1,903
Other, net 1,005 (351)
Changes in certain assets and liabilities:    
Accounts receivable and unbilled revenues 17,207 4,062
Materials, supplies, and fuel stock 5,894 944
Other current assets 8,344 2,335
Other assets 6,386 8,774
Accounts payable (34,373) (17,895)
Accrued interest and taxes 25,813 25,430
Other current liabilities (30,359) (38,761)
Other liabilities (199) (64,763)
Net cash flows from operating activities 76,393 (1,375)
Cash Flows From Investing Activities:    
Additions to utility and non-utility plant (83,838) (73,584)
Proceeds from sales of available-for-sale securities 22,804 14,284
Purchases of available-for-sale securities (23,612) (15,128)
Return of principal on PVNGS lessor notes 10,231 10,965
Other, net 13 1,247
Net cash flows from investing activities (74,402) (62,216)
Cash Flows From Financing Activities:    
Short-term borrowings (repayments), net (49,200) 84,600
Long-term borrowings 175,000 0
Repayment of long-term debt (75,000) 0
Proceeds from stock option exercise 3,258 2,293
Awards of common stock (11,639) (9,651)
Dividends paid (14,868) (11,683)
Valencia’s transactions with its owner (4,369) (5,260)
Other, net (539) (584)
Net cash flows from financing activities 22,643 59,715
Change in Cash and Cash Equivalents 24,634 (3,876)
Cash and Cash Equivalents at Beginning of Period 2,533 8,985
Cash and Cash Equivalents at End of Period 27,167 5,109
Supplemental Cash Flow Disclosures:    
Interest paid, net of amounts capitalized 4,718 4,817
Income taxes paid (refunded), net (1,419) (603)
Supplemental schedule of noncash investing activities:    
Changes in accrued plant additions (13,095) (3,847)
Public Service Company of New Mexico [Member]
   
Cash Flows From Operating Activities:    
Net Earnings 11,205 14,773
Net earnings 7,674 11,569
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 35,950 34,655
Deferred income tax expense 4,185 6,685
Net unrealized (gains) losses on commodity derivatives 2,761 4,902
Realized (gains) on available-for-sale securities (2,573) (1,530)
Other, net 1,042 (346)
Changes in certain assets and liabilities:    
Accounts receivable and unbilled revenues 15,018 5,467
Materials, supplies, and fuel stock 5,974 879
Other current assets 6,809 (84)
Other assets 6,042 8,772
Accounts payable (31,847) (18,857)
Accrued interest and taxes 22,362 20,932
Other current liabilities (29,609) (44,068)
Other liabilities (806) (64,893)
Net cash flows from operating activities 46,513 (32,713)
Cash Flows From Investing Activities:    
Additions to utility and non-utility plant (51,594) (44,389)
Proceeds from sales of available-for-sale securities 22,804 14,284
Purchases of available-for-sale securities (23,612) (15,128)
Return of principal on PVNGS lessor notes 10,231 10,965
Other, net (1) 1,220
Net cash flows from investing activities (42,172) (33,048)
Cash Flows From Financing Activities:    
Short-term borrowings (repayments), net (49,200) 67,800
Short-term borrowings (repayments), affiliate, net (32,500) 0
Long-term borrowings 175,000 0
Repayment of long-term debt (75,000) 0
Dividends paid (132) (132)
Valencia’s transactions with its owner (4,369) (5,260)
Other, net (409) (584)
Net cash flows from financing activities 13,390 61,824
Change in Cash and Cash Equivalents 17,731 (3,937)
Cash and Cash Equivalents at Beginning of Period 21 3,958
Cash and Cash Equivalents at End of Period 17,752 21
Supplemental Cash Flow Disclosures:    
Interest paid, net of amounts capitalized 4,222 4,304
Income taxes paid (refunded), net (215) 0
Supplemental schedule of noncash investing activities:    
Changes in accrued plant additions (8,133) 1,128
Texas-New Mexico Power Company [Member]
   
Cash Flows From Operating Activities:    
Net earnings 6,803 3,726
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 12,851 12,686
Deferred income tax expense 3,665 2,448
Other, net (36) 0
Changes in certain assets and liabilities:    
Accounts receivable and unbilled revenues 2,189 (1,405)
Materials, supplies, and fuel stock (81) 65
Other current assets 2,446 218
Other assets 302 (58)
Accounts payable (2,551) 4,130
Accrued interest and taxes 335 686
Other current liabilities (1,768) (1,278)
Other liabilities 1,465 1,076
Net cash flows from operating activities 25,620 22,294
Cash Flows From Investing Activities:    
Additions to utility and non-utility plant (27,420) (24,594)
Net cash flows from investing activities (27,420) (24,594)
Cash Flows From Financing Activities:    
Short-term borrowings (repayments), net 0 25,000
Short-term borrowings (repayments), net 1,800 (22,700)
Net cash flows from financing activities 1,800 2,300
Change in Cash and Cash Equivalents 0 0
Cash and Cash Equivalents at Beginning of Period 1 1
Cash and Cash Equivalents at End of Period 1 1
Supplemental Cash Flow Disclosures:    
Interest paid, net of amounts capitalized 73 171
Income taxes paid (refunded), net (1,204) (604)
Supplemental schedule of noncash investing activities:    
Changes in accrued plant additions $ (1,109) $ (932)