SOUTHWESTERN PUBLIC SERVICE CO Financial Statements (2025 and earlier)
Company Profile
| Business Address |
SPS TOWER AMARILLO, TX 79101 |
| State of Incorp. | NM |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4931 - Electric and Other Services Combined (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 3,000 | 2,000 | 1,000 | 6,000 | 16,200 | 44,000 | |||
| Cash and cash equivalents | 3,000 | 2,000 | 1,000 | 6,000 | 16,200 | 44,000 | |||
| Receivables | (15,000) | 182,000 | 124,000 | 103,000 | 96,900 | 101,200 | |||
| Inventory, net of allowances, customer advances and progress billings | 69,000 | 61,000 | 51,000 | 36,000 | 31,000 | 33,900 | |||
| Inventory | 69,000 | 61,000 | 51,000 | 36,000 | 31,000 | 33,900 | |||
| Prepaid expense | 2,000 | 5,000 | 3,000 | 18,000 | 800 | 14,200 | |||
| Deferred costs | 2,000 | 76,000 | 9,000 | ||||||
| Derivative instruments and hedges, assets | 42,000 | 122,000 | 30,000 | 10,000 | 15,000 | 17,800 | |||
| Regulatory asset | 30,000 | 217,000 | 193,000 | 76,000 | 20,000 | 26,000 | |||
| Other undisclosed current assets | 434,000 | 206,000 | 70,000 | 125,000 | 136,500 | 125,200 | |||
| Total current assets: | 565,000 | 797,000 | 548,000 | 383,000 | 316,400 | 362,300 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 403,000 | 434,000 | 463,000 | 492,000 | 522,400 | ✕ | |||
| Property, plant and equipment | 8,536,000 | 8,129,000 | 7,838,000 | 7,603,000 | 6,631,600 | 5,946,400 | |||
| Derivative instruments and hedges | 3,000 | 6,000 | 9,000 | 12,600 | 15,800 | ||||
| Regulated entity, other noncurrent assets | 349,000 | 359,000 | 380,000 | 357,000 | 364,000 | 366,200 | |||
| Other noncurrent assets | 28,000 | 26,000 | 27,000 | 15,000 | 3,900 | 5,100 | |||
| Total noncurrent assets: | 9,316,000 | 8,951,000 | 8,714,000 | 8,476,000 | 7,534,500 | 6,333,500 | |||
| TOTAL ASSETS: | 9,881,000 | 9,748,000 | 9,262,000 | 8,859,000 | 7,850,900 | 6,695,800 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 169,000 | 362,000 | 307,000 | 335,000 | 281,000 | 304,400 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | 88,000 | 83,000 | 72,500 | 71,000 | ||
| Taxes payable | ✕ | ✕ | ✕ | 47,000 | 54,000 | 40,400 | 41,600 | ||
| Accounts payable | 209,000 | 172,000 | 198,000 | 168,100 | 191,800 | ||||
| Accrued liabilities | 169,000 | 153,000 | |||||||
| Debt | 425,000 | 34,000 | 137,000 | 250,000 | 26,900 | 42,000 | |||
| Derivative instruments and hedges, liabilities | 2,000 | 4,000 | 4,000 | 4,000 | 3,700 | 3,600 | |||
| Regulatory liability | 116,000 | 148,000 | 54,000 | 57,000 | 118,100 | 85,800 | |||
| Other liabilities | 42,000 | 58,000 | 24,000 | 25,000 | 30,700 | 28,300 | |||
| Due to related parties | ✕ | ✕ | 23,000 | 16,000 | 17,000 | 20,400 | 19,900 | ||
| Other undisclosed current liabilities | 254,000 | 31,000 | 121,000 | 28,000 | |||||
| Total current liabilities: | 1,008,000 | 660,000 | 663,000 | 716,000 | 480,800 | 484,000 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 2,961,000 | 3,211,000 | 3,447,000 | 3,227,000 | 2,419,700 | 2,126,100 | |||
| Long-term debt, excluding current maturities | 2,961,000 | 3,211,000 | 3,013,000 | 2,764,000 | 2,419,700 | 2,126,100 | |||
| Liabilities, other than long-term debt, including: | 1,926,000 | 2,027,000 | 1,983,000 | 2,081,000 | 2,065,900 | 1,549,100 | |||
| Asset retirement obligations | 153,000 | 147,000 | 116,000 | 112,000 | 77,300 | 32,400 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 619,100 | ||
| Deferred income tax liabilities | 622,000 | 739,000 | 702,000 | 725,000 | ✕ | ||||
| Liability, pension and other postretirement and postemployment benefits | 12,000 | 12,000 | 8,000 | 42,000 | 67,000 | 92,400 | |||
| Regulatory liability | 761,000 | 715,000 | 709,000 | 718,000 | 732,300 | 780,900 | |||
| Other liabilities | 7,000 | 9,000 | 8,000 | 12,000 | 9,400 | 7,900 | |||
| Operating lease, liability | 371,000 | 403,000 | 434,000 | 463,000 | ✕ | ||||
| Derivative instruments and hedges, liabilities | 2,000 | 6,000 | 9,000 | 12,800 | 16,400 | ||||
| Other undisclosed liabilities, other than long-term debt | 434,000 | 463,000 | 1,167,100 | ||||||
| Other undisclosed noncurrent liabilities | (434,000) | (463,000) | |||||||
| Total noncurrent liabilities: | 4,887,000 | 5,238,000 | 4,996,000 | 4,845,000 | 4,485,600 | 3,675,200 | |||
| Total liabilities: | 5,895,000 | 5,898,000 | 5,659,000 | 5,561,000 | 4,966,400 | 4,159,200 | |||
| Equity | |||||||||
| Equity, attributable to parent | 3,986,000 | 3,850,000 | 3,603,000 | 3,298,000 | 2,884,500 | 2,536,600 | |||
| Additional paid in capital | 3,370,000 | 3,311,000 | 3,091,000 | 2,790,000 | 2,350,900 | 1,932,300 | |||
| Accumulated other comprehensive loss | (1,000) | (1,000) | (1,000) | (1,000) | (1,400) | (1,400) | |||
| Retained earnings | 617,000 | 540,000 | 513,000 | 509,000 | 535,000 | 605,700 | |||
| Total equity: | 3,986,000 | 3,850,000 | 3,603,000 | 3,298,000 | 2,884,500 | 2,536,600 | |||
| TOTAL LIABILITIES AND EQUITY: | 9,881,000 | 9,748,000 | 9,262,000 | 8,859,000 | 7,850,900 | 6,695,800 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,933,200 | |||||||
| Cost of revenue | (1,586,000) | (1,885,000) | (2,020,000) | (1,421,000) | (1,407,200) | (1,545,300) | ||
| Cost of goods and services sold | (1,043,500) | |||||||
| Gross profit: | (1,586,000) | (1,885,000) | (2,020,000) | (1,421,000) | (1,407,200) | 387,900 | ||
| Operating expenses | (100,000) | (107,000) | (79,000) | (90,000) | (71,900) | (76,200) | ||
| Other undisclosed operating income | 2,152,000 | 2,426,000 | 2,465,000 | 1,870,000 | 1,825,800 | |||
| Operating income: | 466,000 | 434,000 | 366,000 | 359,000 | 346,700 | 311,700 | ||
| Nonoperating income | 9,000 | 3,000 | 5,000 | 31,000 | 29,000 | 16,100 | ||
| Public utilities, allowance for funds used during construction, capitalized cost of equity | 7,000 | 3,000 | 4,000 | 33,000 | 26,800 | 19,100 | ||
| Other nonoperating income (expense) | 2,000 | 1,000 | (2,000) | 2,200 | (3,000) | |||
| Interest and debt expense | (136,000) | (141,000) | (112,000) | (105,000) | (87,000) | (75,600) | ||
| Income from continuing operations before income taxes: | 339,000 | 296,000 | 259,000 | 285,000 | 288,700 | 252,200 | ||
| Income tax expense (benefit) | 45,000 | 53,000 | 59,000 | 10,000 | (25,600) | (38,900) | ||
| Income from continuing operations: | 384,000 | 349,000 | 318,000 | 295,000 | 263,100 | 213,300 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 318,000 | 295,000 | 263,100 | 213,300 | |
| Net income available to common stockholders, diluted: | 384,000 | 349,000 | 318,000 | 295,000 | 263,100 | 213,300 | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 384,000 | 349,000 | 318,000 | 295,000 | 263,100 | 213,300 | ||
| Other comprehensive income (loss) | (100) | 100 | ||||||
| Comprehensive income: | 384,000 | 349,000 | 318,000 | 295,000 | 263,000 | 213,400 | ||
| Other undisclosed comprehensive income, net of tax, attributable to parent | 100 | |||||||
| Comprehensive income, net of tax, attributable to parent: | 384,000 | 349,000 | 318,000 | 295,000 | 263,100 | 213,400 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.