PNM Resources, Inc. PNM Cash Flow

Pnm resources, inc. (PNM)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Cash Flows From Operating Activities:
Net earnings
92,131	101,282	95,419	131,896	31,078	130,909	115,556	120,125	190,934	-31,124	136,734	-262,937
Net earnings
-	-	-	-	15,640	116,254	100,507	105,547	176,359	-45,215	124,316	-
Adjustments to reconcile net earnings (loss) to net cash flows from operating activities:
Depreciation and amortization
301,068	275,641	268,194	242,033	222,861	209,867	208,173	206,499	195,366	186,067	173,446	167,111
Bad debt expense
-	-	-	-	-	-	-	-	24,116	-27,566	-44,071	59,635
PVNGS firm-sales contracts revenue
-	-	-	-	-	-	-	-	-	-58,289	-56,887	-34,546
Deferred income tax expense (benefit)
-25,385	8,019	130,528	63,805	16,451	72,481	60,430	56,243	124,424	35,674	27,727	-46,692
(Gain) on sale of First Choice
-	-	-	-	-	-	-	1,012	-	-	-	-
Equity in net (earnings) loss of Optim Energy
-	-	-	-	-	-	-	-	-	-15,223	-30,145	-29,687
Impairment of equity investment in Optim Energy
-	-	-	-	-	-	-	-	-	188,176	0	-
Net unrealized losses on commodity derivatives
-	-	-	-1,577	-5,188	6,504	1,866	1,598	8,713	-29,303	9,570	7,370
(Gains) losses on investment securities
29,589	-17,176	27,161	19,517	16,060	10,527	10,612	12,965	8,985	4,868	4,502	15,233
Impairment of goodwill and other intangible assets
-	-	-	-	-	-	-	-	-	-	-	221,769
(Gain) on sale of PNM Gas
-	-	-	-	-	-	-	-	-	-	-98,425	-
Loss on reacquired debt
-	-	-	-	-	-	-3,253	0	-9,209	0	7,317	-
Abandonment of leased premises
-	-	-	-	-	-	-	7,411	0	0	-	-
Stock based compensation expense
6,414	7,120	6,194	5,634	4,863	5,931	5,320	3,585	6,556	2,894	2,188	3,261
Regulatory disallowances and restructuring costs
151,095	65,598	27,036	15,011	167,471	1,062	12,235	0	21,402	0	27,542	30,248
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity
9,478	10,404	9,516	4,949	10,430	5,563	4,382	-	-	-	-	-
Settlement of Legal Proceeding
-	-	-	-	-	-	-	-	-	-	31,969	-
Other, net
-2,395	-3,529	-5,204	-3,060	-3,934	-4,045	-2,735	798	3,497	1,719	7,096	7,678
Changes in certain assets and liabilities:
Accounts receivable and unbilled revenues
-3,796	8,702	1,846	-2,543	3,298	4,975	7,562	2,547	70,734	11,398	48,809	-24,793
Materials, supplies, and fuel stock
6,095	5,331	-1,473	4,169	180	-5,504	7,580	5,412	2,200	1,848	1,083	9,921
Other current assets
-1,872	-2,491	-31,298	9,640	-29,370	30,436	-8,577	2,598	21,979	42,841	-47,559	34,399
Other assets
-42,803	840	5,486	42,864	-2,369	-290	12,801	30,778	15,835	-8,559	-725	28,300
Accounts payable
-272	-20,714	14,468	3,159	-32,269	-2,311	4,484	14,020	20,969	-15,462	-70,540	2,516
Accrued interest and taxes
14,691	1,713	-327	3,345	4,957	2,040	91,537	255	7,304	34,163	-94,996	-16,051
Other current liabilities
-7,212	2,614	-6,513	-12,509	2,633	-2,453	-19,648	-19,905	3,460	-35,974	-20,980	3,314
Other liabilities
-35,071	-10,966	-5,503	29,868	-42,064	45,516	-61,262	-70,743	-6,735	-36,750	-14,195	13,798
Proceeds from governmental grants
-	-	-	-	-	-	-	21,567	2,103	0	0	-
Net cash flows from operating activities
503,163	428,226	523,462	408,283	386,874	414,876	386,587	281,349	292,240	287,352	87,706	88,625
Cash Flows From Investing Activities:
Additions to utility plant and non-utility plant
616,273	501,213	500,461	600,076	558,589	460,658	348,039	308,909	326,931	281,488	288,031	344,951
Proceeds from sales of investment securities
494,528	984,533	637,492	522,601	252,174	117,989	271,140	167,330	145,286	79,853	124,054	180,296
Purchases of investment securities
513,866	1,007,022	650,284	538,383	262,548	127,016	282,000	176,748	149,185	85,847	129,833	185,439
Proceeds from sale of First Choice
-	-	-	-	-	-	-	4,034	-174,925	0	0	-
Return of principal on PVNGS lessor notes
-	-	-	8,547	21,694	20,758	23,357	23,455	32,274	29,851	27,068	22,506
Investments in NMRD
38,250	9,000	4,077	0	0	-	-	-	-	20,279	0	-
Disbursements from NMRD
0	0	12,415	0	0	-	-	-	-	-	-	-
Purchase of Rio Bravo
-	-	-	-	-	36,235	0	0	-	-	-	-
Investment in Westmoreland Loan
-	-	-	122,250	0	0	-	-	-	-	-	-
Principal repayments on Westmoreland Loan
0	56,640	38,360	30,000	0	0	-	-	-	-	-	-
Other, net
37	-338	-392	-186	-2,741	167	-4,096	-4,943	17	-2,004	-4,697	-6,873
Net cash flows from investing activities
-673,898	-475,724	-466,163	-699,375	-544,528	-485,329	-331,446	-285,895	19,778	-275,906	379,726	-320,715
Cash Flows From Financing Activities:
Short-term loan
-	-	-	100,000	50,000	0	0	100,000	0	0	-	-
Repayment of short-term loan
-	-	-	150,000	0	0	-	-	-	-	-	-
Revolving credit facilities borrowings (repayments), net
-150,000	-119,500	0	86,500	95,000	-43,600	-9,500	-24,000	-139,300	24,000	-546,667	78,767
Long-term borrowings
745,000	984,652	317,000	603,500	463,605	355,000	75,000	20,000	210,000	403,845	345,242	452,750
Repayment of long-term debt
407,302	750,162	274,070	303,793	333,066	125,000	29,468	22,387	110,752	405,970	352,084	450,826
Cash paid in debt exchange
-	-	-	-	-	-	13,048	-	0	-	-	-
Issuance of common stock
-	-	-	-	-	-	-	-	-	-	1,245	250,955
Proceeds from stock option exercise
943	963	1,739	7,028	5,619	6,999	4,618	11,684	5,622	1,247	0	86
Purchase of preferred stock
-	-	-	-	-	-	-	-	73,475	0	0	-
Awards of common stock
9,918	12,635	13,929	15,451	17,720	17,319	13,807	25,168	125,683	0	0	1,371
Purchases to satisfy awards of common stock
-	-	-	-	-	-	-	-	10,104	2,986	951	-
Excess tax (shortfall) from stock-based payment arrangements
-	-	-	-	-	-	-	-	-	-580	760	560
Payments received on PVNGS firm-sales contracts
-	-	-	-	-	-	-	-	-	30,476	30,737	88,509
Dividends paid
92,926	84,961	77,792	70,623	64,251	59,468	51,508	45,137	45,656	46,254	46,229	58,026
Valencia’s transactions with its owner
15,401	17,095	17,742	17,006	17,049	17,610	18,335	15,630	16,801	17,745	13,639	-
Amounts received under transmission interconnection arrangements
10,015	4,060	11,879	7,171	27	-	-	-	-	8,515	0	-
Refunds paid under transmission interconnection arrangements
4,325	2,830	21,290	2,830	2,338	-	-	-	-	0	0	-
Debt issuance costs and other, net
-2,840	-6,846	-2,942	-2,104	-4,396	-2,808	-5,545	-922	6,182	5,231	10,329	5,341
Net cash flows from financing activities
172,446	45,646	-58,847	242,392	175,431	96,194	-61,593	-1,560	-312,331	-10,683	-593,435	354,943
Change in Cash, Restricted Cash, and Equivalents
1,711	-1,852	-1,548	-48,700	17,777	25,741	-6,452	-6,106	-313	763	-126,003	122,853
Supplemental Cash Flow Disclosures:
Interest paid, net of amounts capitalized
115,476	119,308	120,955	115,043	103,382	108,741	110,768	113,265	116,391	119,676	118,798	144,944
Income taxes paid (refunded), net
-2,929	842	625	-307	-1,890	-2,597	-95,327	5,302	-5,527	-99,318	118,160	-2,751
Supplemental schedule of noncash investing activities:
Supplemental schedule of noncash investing and financing activities:
(Increase) decrease in accrued plant additions
8,781	-11,502	-25,261	18,345	-19,080	-3,089	6,006	-17,983	24,768	-	-	-
Contribution of utility plant to NMRD
0	578	24,829	-	0	-	36,297	-	-	-	-	-
Utility plant additions
-	-	-	-	-	-	-	-	-	-	-	87,310
Increase in short-term borrowings
-	-	-	-	-	-	-	-	-	-	-	82,468
Reduction in short-term borrowings
-	-	-	-	-	-	-	-	-	-	-	88,059
Increase in non-controlling interest in Valencia
-	-	-	-	-	-	-	-	-	-	-	90,148
Convertible preferred stock issued under forward purchase contract upon tender of senior unsecured notes
-	-	-	-	-	-	-	-	-	-	-	100,000
PNM
Net earnings
55,422	70,323	87,413	91,938	-	-	-	-	-	-	-	-
Net earnings
41,181	55,211	72,396	77,419	-	-	-	-	-	-	-	-
Depreciation and amortization
191,213	182,355	180,500	166,047	-	-	-	-	-	-	-	-
Deferred income tax expense (benefit)
-20,145	3,334	82,549	53,119	-	-	-	-	-	-	-	-
(Gains) losses on investment securities
29,589	-17,176	27,161	19,517	-	-	-	-	-	-	-	-
Other, net
-2,697	-3,395	-5,490	-3,046	-	-	-	-	-	-	-	-
Accounts receivable and unbilled revenues
-5,877	7,959	419	-4,769	-	-	-	-	-	-	-	-
Materials, supplies, and fuel stock
5,128	6,238	-3,542	3,924	-	-	-	-	-	-	-	-
Other current assets
1,453	468	-31,775	6,044	-	-	-	-	-	-	-	-
Other assets
-31,409	-6,894	-15,121	23,880	-	-	-	-	-	-	-	-
Accounts payable
-3,617	-14,290	9,736	5,614	-	-	-	-	-	-	-	-
Accrued interest and taxes
5,579	-7,617	21,523	-9,601	-	-	-	-	-	-	-	-
Other current liabilities
18,002	-17,975	-11,099	-12,136	-	-	-	-	-	-	-	-
Other liabilities
-39,087	-3,761	-9,389	20,119	-	-	-	-	-	-	-	-
Net cash flows from operating activities
355,123	283,335	407,953	281,975	-	-	-	-	-	-	-	-
Additions to utility plant and non-utility plant
341,847	255,627	309,142	445,464	-	-	-	-	-	-	-	-
Proceeds from sales of investment securities
494,528	984,533	637,492	522,601	-	-	-	-	-	-	-	-
Purchases of investment securities
513,866	1,007,022	650,284	538,383	-	-	-	-	-	-	-	-
Other, net
87	-544	-33	-171	-	-	-	-	-	-	-	-
Net cash flows from investing activities
-361,272	-277,572	-321,901	-452,528	-	-	-	-	-	-	-	-
Short-term borrowings (repayments) – affiliate, net
-19,800	19,800	0	0	-	-	-	-	-	-	-	-
Long-term borrowings
290,000	450,000	257,000	321,000	-	-	-	-	-	-	-	-
Repayment of long-term debt
200,000	450,025	232,000	271,000	-	-	-	-	-	-	-	-
Dividends paid
528	77,904	61,223	4,670	-	-	-	-	-	-	-	-
Valencia’s transactions with its owner
15,401	17,095	17,742	17,006	-	-	-	-	-	-	-	-
Debt issuance costs and other, net
-296	-3,592	-1,692	-1,239	-	-	-	-	-	-	-	-
Net cash flows from financing activities
7,065	-6,786	-86,268	120,568	-	-	-	-	-	-	-	-
Change in Cash, Restricted Cash, and Equivalents
916	-1,023	-216	-49,985	-	-	-	-	-	-	-	-
Interest paid, net of amounts capitalized
65,445	73,029	77,960	82,514	-	-	-	-	-	-	-	-
Income taxes paid (refunded), net
-3,544	134	-23,391	-967	-	-	-	-	-	-	-	-
(Increase) decrease in accrued plant additions
4,751	-12,310	-11,792	22,433	-	-	-	-	-	-	-	-
Texas-New Mexico Power Company
Net earnings
55,799	51,591	35,559	41,672	-	-	-	-	-	-	-	-
Net earnings
55,799	51,591	35,559	41,672	-	-	-	-	-	-	-	-
Depreciation and amortization
85,453	68,078	64,939	62,866	-	-	-	-	-	-	-	-
Deferred income tax expense (benefit)
-7,650	1,780	27,275	12,662	-	-	-	-	-	-	-	-
Regulatory disallowances and restructuring costs
496	-741	0	0	-	-	-	-	-	-	-	-
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity
2,800	2,200	900	800	-	-	-	-	-	-	-	-
Allowance for equity funds used during construction and other, net
2,808	2,048	1,120	772	-	-	-	-	-	-	-	-
Accounts receivable and unbilled revenues
2,081	744	1,427	2,226	-	-	-	-	-	-	-	-
Materials, supplies, and fuel stock
967	-907	2,069	245	-	-	-	-	-	-	-	-
Other current assets
798	-1,929	1,253	621	-	-	-	-	-	-	-	-
Other assets
-8,366	7,174	20,967	19,126	-	-	-	-	-	-	-	-
Accounts payable
1,829	-4,199	2,419	-2,040	-	-	-	-	-	-	-	-
Accrued interest and taxes
186	12,263	-15,962	12,690	-	-	-	-	-	-	-	-
Other current liabilities
771	6,719	-2,236	298	-	-	-	-	-	-	-	-
Other liabilities
-1,004	-6,610	1,334	6,822	-	-	-	-	-	-	-	-
Net cash flows from operating activities
137,592	121,751	86,492	111,980	-	-	-	-	-	-	-	-
Additions to utility plant and non-utility plant
254,006	223,448	145,495	122,518	-	-	-	-	-	-	-	-
Net cash flows from investing activities
-254,006	-223,448	-145,495	-122,518	-	-	-	-	-	-	-	-
Short-term loan borrowings (repayments)
-2,500	17,500	0	-59,000	-	-	-	-	-	-	-	-
Short-term borrowings (repayments) – affiliate, net
-100	100	-4,600	-7,200	-	-	-	-	-	-	-	-
Long-term borrowings
305,000	95,000	60,000	60,000	-	-	-	-	-	-	-	-
Repayment of long-term debt
207,302	0	0	-	-	-	-	-	-	-	-	-
Equity contribution from parent
80,000	30,000	50,000	50,000	-	-	-	-	-	-	-	-
Dividends paid
55,265	41,903	44,389	31,817	-	-	-	-	-	-	-	-
Debt issuance costs and other, net
-2,419	-700	-979	-775	-	-	-	-	-	-	-	-
Net cash flows from financing activities
117,414	99,997	60,032	11,208	-	-	-	-	-	-	-	-
Change in Cash, Restricted Cash, and Equivalents
1,000	-1,700	1,029	-	-	-	-	-	-	-	-	-
Change in Cash and Cash Equivalents
-	-	-	670	-	-	-	-	-	-	-	-
Interest paid, net of amounts capitalized
28,055	28,629	29,251	26,766	-	-	-	-	-	-	-	-
Income taxes paid (refunded), net
13,611	4,266	21,436	660	-	-	-	-	-	-	-	-
(Increase) decrease in accrued plant additions
5,035	1,810	-15,737	-1,271	-	-	-	-	-	-	-	-
Public Service Company of New Mexico
Net unrealized losses on commodity derivatives
-	-	-	-1,577	-	-	-	-	-	-	-	-
Regulatory disallowances and restructuring costs
150,599	66,339	27,036	15,011	-	-	-	-	-	-	-	-
Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity
6,700	8,200	8,700	4,163	-	-	-	-	-	-	-	-
Return of principal on PVNGS lessor notes
-	-	-	8,547	-	-	-	-	-	-	-	-
Short-term loan borrowings (repayments)
15,600	2,600	-21,200	61,000	-	-	-	-	-	-	-	-
Equity contribution from parent
0	0	0	28,100	-	-	-	-	-	-	-	-
Amounts received under transmission interconnection arrangements
10,015	72,260	11,879	7,171	-	-	-	-	-	-	-	-
Refunds paid under transmission interconnection arrangements
72,525	2,830	21,290	2,830	-	-	-	-	-	-	-	-