Schedule I - Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule I - Condensed Financial Information of Parent Company

SCHEDULE I

PNM RESOURCES, INC.

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

STATEMENTS OF EARNINGS

	Year ended December 31,
	2012			2011			2010
	(In thousands)
Operating Revenues	$	—		$	—		$	—
Operating Expenses	3,287			20,547			6,584
Operating income (loss)	(3,287		)	(20,547		)	(6,584		)
Other Income and Deductions:
Equity in earnings of subsidiaries	117,900			205,215			96,804
Equity in net earnings (loss) of Optim Energy	—			—			(15,223		)
Impairment of equity investment in Optim Energy	—			—			(188,176		)
Other income	670			59			948
Other deductions	(20,904		)	(34,124		)	(25,772		)
Net other income (deductions)	97,666			171,150			(131,419		)
Income (Loss) Before Income Taxes	94,379			150,603			(138,003		)
Income Tax Expense (Benefit)	(11,168		)	(25,756		)	(92,788		)
Net Earnings (Loss)	$	105,547		$	176,359		$	(45,215	)

SCHEDULE I

PNM RESOURCES, INC.

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Cash Flows From Operating Activities:
Net earnings (loss)	$	105,547		$	176,359		$	(45,215	)
Adjustments to reconcile net earnings (loss) to net cash flows from operating activities:
Depreciation and amortization	5,000			7,654			6,767
Deferred income tax expense	(46,632		)	(34,396		)	(73,067		)
Equity in (earnings) of subsidiaries	(117,900		)	(205,215		)	(96,804		)
Equity in net (earnings) loss of Optim Energy	—			—			15,223
Impairment of equity investment in Optim Energy	—			—			188,176
(Gain) on reacquired debt	—			9,209			—
Stock based compensation expense	3,585			6,556			2,894
Changes in certain assets and liabilities:
Other current assets	(43,638		)	42,687			15,171
Other assets	34,096			59,975			31
Accounts payable	8			(1		)	(157		)
Accrued interest and taxes	(28,855		)	27,348			141
Other current liabilities	3,876			4,765			(8,955		)
Other liabilities	(29,601		)	(12,854		)	18,236
Net cash flows from operating activities	(114,514		)	82,087			22,441
Cash Flows From Investing Activities:
Utility plant additions	(7,524		)	—			—
Investments in subsidiaries	—			(43,000		)	—
Investments in Optim Energy	—			—			(20,279		)
Cash dividends from subsidiaries	61,406			285,757			47,940
Net cash flows from investing activities	53,882			242,757			27,661
Cash Flows From Financing Activities:
Short-term borrowings (repayments), net	120,900			(15,300		)	(8,000		)
Short-term borrowings (repayments) – affiliate, net	—			300			1,719
Repayment of long-term debt	(2,387		)	(60,391		)	(2,125		)
Purchase of preferred stock	—			(73,475		)	—
Purchase of common stock	—			(125,683		)	—
Proceeds from stock option exercise	11,684			5,622			1,247
Purchases to satisfy awards of common stock	(25,168		)	(10,104		)	(2,986		)
Excess tax (shortfall) from stock-based payment arrangements	—			—			(580		)
Dividends paid	(44,609		)	(45,128		)	(45,726		)
Other, net	—			(747		)	—
Net cash flows from financing activities	60,420			(324,906		)	(56,451		)
Change in Cash and Cash Equivalents	(212		)	(62		)	(6,349		)
Cash and Cash Equivalents at Beginning of Period	241			303			6,652
Cash and Cash Equivalents at End of Period	$	29		$	241		$	303
Supplemental Cash Flow Disclosures:
Interest paid	$	15,007		$	19,215		$	19,078
Income taxes paid (refunded), net	$	1,501		$	5,454		$	(27,018	)

SCHEDULE I

PNM RESOURCES, INC.

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

BALANCE SHEETS

	December 31,
	2012			2011
	(In thousands)
Assets
Cash and cash equivalents	$	29		$	241
Intercompany receivables	108,875			76,982
Income taxes receivable	41,434			—
Other, net	2,204			—
Total current assets	152,542			77,223
Property, plant and equipment, net of accumulated depreciation of $8,262 and $14,340	25,642			18,792
Long-term investments	3,651			7,439
Investment in subsidiaries	1,688,168			1,646,449
Other long-term assets	49,302			37,294
Total long-term assets	1,766,763			1,709,974
	$	1,919,305		$	1,787,197
Liabilities and Stockholders’ Equity
Short-term debt	$	137,600		$	16,700
Short-term debt-affiliate	8,819			8,819
Current maturities of long-term debt	2,530			2,387
Accrued interest and taxes	3,127			31,510
Other current liabilities	13,218			7,743
Total current liabilities	165,294			67,159
Long-term debt	142,592			145,123
Other long-term liabilities	3,232			930
Total liabilities	311,118			213,212
Common stock (no par value; 120,000,000 shares authorized; issued and outstanding 79,653,624 shares)	1,182,819			1,193,191
Accumulated other comprehensive income (loss), net of tax	(81,630		)	(66,856		)
Retained earnings	506,998			447,650
Total common stockholders’ equity	1,608,187			1,573,985
	$	1,919,305		$	1,787,197

See Notes 6, 7, and 16 for information regarding commitments, contingencies, and maturities of long-term debt.