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Schedule I - Condensed Financial Information of Parent Company
12 Months Ended
Dec. 31, 2022
Condensed Financial Information 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,
 202220212020
 (In thousands)
Operating Revenues$— $— $— 
Operating Expenses6,199 15,044 28,299 
Operating (loss)(6,199)(15,044)(28,299)
Other Income and Deductions:
Equity in earnings of subsidiaries197,860 221,004 211,291 
Other income (loss)663 362 (269)
Net other income and (deductions)198,523 221,366 211,022 
Interest Charges30,430 11,986 19,078 
Earnings Before Income Taxes161,894 194,336 163,645 
Income Tax (Benefit)(7,636)(1,493)(9,130)
Net Earnings$169,530 $195,829 $172,775 
SCHEDULE I
PNM RESOURCES, INC.
CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY
STATEMENTS OF CASH FLOWS
 
 Year Ended December 31,
 202220212020
 (In thousands)
Cash Flows From Operating Activities:
Net Cash Flows From Operating Activities$(10,261)$(28,514)$(17,646)
Cash Flows From Investing Activities:
Utility plant additions1,136 543 1,122 
Investments in subsidiaries(70,200)(178,071)(301,000)
Cash dividends from subsidiaries153,500 60,000 99,187 
Net cash flows from investing activities84,436 (117,528)(200,691)
Cash Flows From Financing Activities:
Short-term borrowings (repayments) -affiliate, net(700)6,400 — 
Revolving credit facility borrowings (repayments), net(45,500)42,900 (131,900)
Long-term borrowings100,000 1,120,000 230,000 
Repayment of long-term debt— (900,000)(50,000)
Issuance of common stock— — 283,208 
Proceeds from stock option exercise— — 24 
Awards of common stock(7,980)(10,130)(11,984)
Dividends paid(119,311)(112,444)(97,974)
Other, net(686)(673)(3,064)
Net cash flows from financing activities(74,177)146,053 218,310 
Change in Cash and Cash Equivalents(2)11 (27)
Cash and Cash Equivalents at Beginning of Period63 52 79 
Cash and Cash Equivalents at End of Period$61 $63 $52 
Supplemental Cash Flow Disclosures:
Interest paid, net of amounts capitalized$29,904 $13,425 $16,869 
Income taxes paid (refunded), net$(2,500)$— $— 
SCHEDULE I
PNM RESOURCES, INC.
CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY
BALANCE SHEETS
 
 December 31,
 20222021
 (In thousands)
Assets
Cash and cash equivalents$61 $63 
Intercompany receivables55,304 45,954 
Derivative instruments11,108 — 
Income taxes receivable1,298 18,674 
Other current assets83 247 
Total current assets67,854 64,938 
Property, plant and equipment, net of accumulated depreciation of $17,721 and $16,585
21,513 22,649 
Investment in subsidiaries3,118,442 3,006,281 
Other long-term assets45,501 49,220 
Total long-term assets3,185,456 3,078,150 
$3,253,310 $3,143,088 
Liabilities and Stockholders’ Equity
Short-term debt9,400 54,900 
Short-term debt-affiliate14,519 15,219 
Accrued interest and taxes3,302 2,564 
Dividends declared31,544 — 
Other current liabilities197 318 
Total current liabilities58,962 73,001 
Long-term debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs999,612 899,759 
Other long-term liabilities2,804 2,804 
Total liabilities1,061,378 975,564 
Common stock (no par value; 120,000,000 shares authorized; issued and outstanding 85,834,874 shares)
1,429,102 1,429,257 
Accumulated other comprehensive income (loss), net of income taxes(66,048)(71,936)
Retained earnings828,878 810,203 
Total common stockholders’ equity2,191,932 2,167,524 
$3,253,310 $3,143,088 
See Notes 7, 8, 11, and 16 for information regarding commitments, contingencies, and maturities of long-term debt.