XML 77 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash Flows From Operating Activities:    
Net Earnings $ 45,345 $ 45,576
Net Earnings 38,304 38,592
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 103,914 99,971
Deferred income tax expense 27,797 21,354
Net unrealized (gains) losses on derivatives 1,729 1,978
Realized (gains) losses on investments held by NDT (4,805) (3,660)
Stock based compensation expense 3,198 1,435
Other, net 313 (820)
Changes in certain assets and liabilities:    
Accounts receivable and unbilled revenues (23,021) (20,901)
Materials, supplies, and fuel stock (159) (5,250)
Other current assets 3,870 (12,021)
Other assets 6,356 (6,659)
Accounts payable (7,424) (4,882)
Accrued interest and taxes 93,077 (9,944)
Other current liabilities (21,310) (3,016)
Proceeds from governmental grants 0 21,567
Other liabilities (68,972) (83,432)
Net cash flows from operating activities 159,908 41,296
Cash Flows From Investing Activities:    
Additions to utility and non-utility plant (153,512) (156,796)
Proceeds from sales of investments held by NDT 76,106 45,787
Purchases of investments held by NDT (77,868) (47,313)
Return of principal on PVNGS lessor notes 10,965 12,632
Other, net 1,240 3,687
Net cash flows from investing activities (143,069) (142,003)
Cash Flows From Financing Activities:    
Short-term borrowings (repayments), net 1,300 124,300
Long-term borrowings 75,000 0
Repayment of long-term debt 9,445 0
Cash paid in debt exchange (13,048) 0
Proceeds from stock option exercise 11,345 5,410
Purchases to satisfy awards of common stock (19,741) (12,674)
Dividends paid (24,958) (21,770)
Valencia's transactions with its owner (8,675) (7,449)
Other, net (2,804) 983
Net cash flows from financing activities 8,974 88,800
Change in Cash and Cash Equivalents 25,813 (11,907)
Cash and Cash Equivalents at Beginning of Period 8,985 15,091
Cash and Cash Equivalents at End of Period 34,798 3,184
Supplemental Cash Flow Disclosures:    
Interest paid, net of capitalized interest 58,267 56,217
Income taxes paid (refunded), net (95,472) 5,302
Supplemental schedule of noncash financing activities:    
Premium on long-term debt incurred in connection with debt exchange 23,249   
Public Service Company of New Mexico [Member]
   
Cash Flows From Operating Activities:    
Net Earnings 44,470 41,417
Net Earnings 37,693 34,697
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 69,179 63,303
Deferred income tax expense 21,836 21,067
Net unrealized (gains) losses on derivatives 1,729 1,978
Realized (gains) losses on investments held by NDT (4,805) (3,660)
Other, net (818) (545)
Changes in certain assets and liabilities:    
Accounts receivable and unbilled revenues (15,841) (17,867)
Materials, supplies, and fuel stock (238) (5,152)
Other current assets 4,299 (10,885)
Other assets 6,196 (5,868)
Accounts payable (5,829) (7,112)
Accrued interest and taxes 45,380 61,503
Other current liabilities (23,523) 10,095
Proceeds from governmental grants 0 21,567
Other liabilities (69,059) (78,105)
Net cash flows from operating activities 72,976 91,736
Cash Flows From Investing Activities:    
Additions to utility and non-utility plant (98,673) (111,344)
Proceeds from sales of investments held by NDT 76,106 45,787
Purchases of investments held by NDT (77,868) (47,313)
Return of principal on PVNGS lessor notes 10,965 12,632
Other, net 1,213 1,372
Net cash flows from investing activities (88,257) (98,866)
Cash Flows From Financing Activities:    
Short-term borrowings (repayments), net (21,100) 20,400
Long-term borrowings 75,000 0
Dividends paid (264) (17,944)
Valencia's transactions with its owner (8,675) (7,449)
Other, net (1,169) 984
Net cash flows from financing activities 43,792 (4,009)
Change in Cash and Cash Equivalents 28,511 (11,139)
Cash and Cash Equivalents at Beginning of Period 3,958 12,307
Cash and Cash Equivalents at End of Period 32,469 1,168
Supplemental Cash Flow Disclosures:    
Interest paid, net of capitalized interest 37,845 36,286
Income taxes paid (refunded), net (44,999) (63,114)
Texas-New Mexico Power Company [Member]
   
Cash Flows From Operating Activities:    
Net Earnings 12,065 11,029
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 26,034 25,885
Deferred income tax expense 4,348 6,247
Other, net (10) (258)
Changes in certain assets and liabilities:    
Accounts receivable and unbilled revenues (7,180) (3,034)
Materials, supplies, and fuel stock 79 (98)
Other current assets (4,082) (3,904)
Other assets 590 (1,066)
Accounts payable 807 2,987
Accrued interest and taxes (1,517) (4,755)
Other current liabilities 1,278 4,214
Other liabilities 886 (3,408)
Net cash flows from operating activities 33,298 33,839
Cash Flows From Investing Activities:    
Additions to utility and non-utility plant (47,390) (39,595)
Proceeds from sales of utility plant 0 1,367
Net cash flows from investing activities (47,390) (38,228)
Cash Flows From Financing Activities:    
Short-term borrowings (repayments), affiliate, net 25,000 0
Long-term borrowings 7,500 7,400
Cash paid in debt exchange (13,048) 0
Dividends paid (3,726) (3,010)
Other, net (1,634) (1)
Net cash flows from financing activities 14,092 4,389
Change in Cash and Cash Equivalents 0 0
Cash and Cash Equivalents at Beginning of Period 1  
Cash and Cash Equivalents at End of Period 1  
Supplemental Cash Flow Disclosures:    
Interest paid, net of capitalized interest 13,267 12,761
Income taxes paid (refunded), net 696 1,848
Supplemental schedule of noncash financing activities:    
Premium on long-term debt incurred in connection with debt exchange $ 23,249