PNM Resources Inc. (Holding Co.) (PNM) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
414 SILVER AVE. SW ALBUQUERQUE, NM 87102-3289 |
| State of Incorp. | NM |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4911 - Electric Services (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 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 | 2 | 4 | 1 | 48 | 4 | 2 | |||
| Cash and cash equivalents | 2 | 4 | 1 | 48 | 4 | 2 | |||
| Restricted cash and investments | |||||||||
| Receivables | 197 | 249 | 186 | 175 | 148 | 158 | |||
| Inventory, net of allowances, customer advances and progress billings | 98 | 67 | 65 | 66 | 78 | 72 | |||
| Inventory | 98 | 67 | 65 | 66 | 78 | 72 | |||
| Prepaid expense | 20 | 18 | 37 | ||||||
| Derivative instruments and hedges, assets | 1 | ||||||||
| Regulatory asset | 73 | 20 | 15 | 0 | 7 | 5 | |||
| Other current assets | 9 | 32 | 2 | 65 | 44 | 54 | |||
| Other undisclosed current assets | 77 | 20 | 19 | 24 | 12 | 11 | |||
| Total current assets: | 476 | 411 | 325 | 377 | 294 | 303 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 26 | 24 | 22 | 21 | 9 | ✕ | |||
| Operating lease, right-of-use asset | 182 | 56 | 80 | 105 | 131 | ✕ | |||
| Property, plant and equipment | 590 | 373 | 249 | 219 | 161 | 194 | |||
| Long-term investments and receivables | 564 | 508 | 553 | 531 | 454 | 355 | |||
| Long-term investments | 564 | 508 | 553 | 531 | 454 | 355 | |||
| Intangible assets, net (including goodwill) | 278 | 278 | 278 | 278 | 278 | 278 | |||
| Goodwill | 278 | 278 | 278 | 278 | 278 | 278 | |||
| Derivative instruments and hedges | 3 | ||||||||
| Regulated entity, other noncurrent assets | 914 | 847 | 514 | 558 | 557 | 599 | |||
| Other undisclosed noncurrent assets | 7,222 | 6,761 | 6,647 | 5,851 | 5,414 | 5,134 | |||
| Total noncurrent assets: | 9,777 | 8,846 | 8,342 | 7,562 | 7,005 | 6,563 | |||
| TOTAL ASSETS: | 10,253 | 9,257 | 8,667 | 7,940 | 7,299 | 6,866 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 240 | 247 | 173 | 198 | 128 | 135 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | 0 | 28 | 25 | 23 | ||
| Accounts payable | 205 | 216 | 173 | 169 | 103 | 112 | |||
| Accrued liabilities | 35 | 32 | |||||||
| Deferred revenue | 6 | 6 | 5 | 7 | 11 | ✕ | |||
| Debt | 542 | 417 | 242 | 608 | 704 | 236 | |||
| Derivative instruments and hedges, liabilities | 1 | ||||||||
| Regulatory liability | 140 | 17 | 8 | 7 | 1 | 9 | |||
| Other liabilities | 94 | 87 | 99 | 63 | 47 | 55 | |||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 11 | ||
| Other undisclosed current liabilities | 208 | 116 | 137 | 96 | 77 | 65 | |||
| Total current liabilities: | 1,231 | 890 | 664 | 978 | 967 | 512 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 4,242 | 3,893 | 3,576 | 2,801 | 2,517 | 2,670 | |||
| Long-term debt, excluding current maturities | 4,242 | 3,893 | 3,520 | 2,720 | 2,517 | 2,670 | |||
| Liabilities, other than long-term debt, including: | 2,370 | 2,218 | 2,249 | 2,123 | 2,061 | 1,919 | |||
| Asset retirement obligations | 246 | 223 | 234 | 183 | 182 | 159 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 601 | ||
| Deferred income tax liabilities | 845 | 823 | 765 | 695 | 626 | ✕ | |||
| Liability, pension and other postretirement and postemployment benefits | 21 | 33 | 19 | 58 | 95 | 100 | |||
| Regulatory liability | 771 | 755 | 841 | 850 | 866 | 891 | |||
| Operating lease, liability | 167 | 41 | 56 | 81 | ✕ | ||||
| Derivative instruments and hedges, liabilities | 3 | ||||||||
| Other undisclosed liabilities, other than long-term debt | 319 | 342 | 389 | 336 | 291 | 165 | |||
| Other undisclosed noncurrent liabilities | (56) | (81) | |||||||
| Total noncurrent liabilities: | 6,611 | 6,111 | 5,768 | 4,842 | 4,578 | 4,589 | |||
| Total liabilities: | 7,842 | 7,001 | 6,432 | 5,820 | 5,545 | 5,101 | |||
| Equity | |||||||||
| Equity, attributable to parent | 2,349 | 2,192 | 2,168 | 2,049 | 1,679 | 1,688 | |||
| Common stock | 1,625 | 1,429 | 1,429 | 1,430 | 1,151 | 1,153 | |||
| Accumulated other comprehensive loss | (63) | (66) | (72) | (79) | (99) | (109) | |||
| Retained earnings | 787 | 829 | 810 | 699 | 628 | 644 | |||
| Equity, attributable to noncontrolling interest | 50 | 53 | 55 | 59 | 63 | 64 | |||
| Total equity: | 2,399 | 2,245 | 2,223 | 2,108 | 1,742 | 1,753 | |||
| Other undisclosed liabilities and equity | 12 | 12 | 12 | 12 | 12 | 12 | |||
| TOTAL LIABILITIES AND EQUITY: | 10,253 | 9,257 | 8,667 | 7,940 | 7,299 | 6,866 | |||
Income Statement (P&L) ($ in millions)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,939 | 2,250 | 1,780 | 1,523 | 1,458 | 1,437 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (320) | (305) | (284) | (276) | (268) | (241) | ||
| Other undisclosed gross profit | (964) | (1,204) | ||||||
| Gross profit: | 656 | 740 | 1,496 | 1,247 | 1,190 | 1,195 | ||
| Operating expenses | (814) | (790) | (773) | (731) | (822) | (188) | ||
| Other undisclosed operating income (loss) | 390 | 443 | (415) | (231) | (224) | (771) | ||
| Operating income: | 231 | 394 | 308 | 285 | 144 | 236 | ||
| Nonoperating income (expense) | 50 | (55) | 33 | 37 | 44 | 0 | ||
| Other nonoperating income (expense) | 50 | (55) | 33 | 37 | 44 | 0 | ||
| Interest and debt expense | (190) | (128) | (97) | (114) | (121) | (127) | ||
| Income from continuing operations before equity method investments, income taxes: | 91 | 211 | 244 | 208 | 67 | 109 | ||
| Other undisclosed loss from continuing operations before income taxes | ||||||||
| Income from continuing operations before income taxes: | 91 | 211 | 244 | 208 | 67 | 109 | ||
| Income tax expense (benefit) | 16 | (26) | (33) | (21) | 25 | (8) | ||
| Income from continuing operations: | 107 | 185 | 212 | 187 | 92 | 101 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 212 | 187 | 92 | 101 | |
| Net income: | 107 | 185 | 212 | 187 | 92 | 101 | ||
| Net loss attributable to noncontrolling interest | (19) | (15) | (15) | (14) | (14) | (15) | ||
| Net income attributable to parent: | 88 | 170 | 196 | 173 | 78 | 86 | ||
| Preferred stock dividends and other adjustments | (1) | |||||||
| Other undisclosed net loss available to common stockholders, basic | (1) | (1) | (1) | (1) | (1) | |||
| Net income available to common stockholders, diluted: | 88 | 170 | 196 | 173 | 77 | 86 | ||
Comprehensive Income ($ in millions)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 107 | 185 | 212 | 187 | 92 | 101 | ||
| Other comprehensive income (loss) | 3 | 6 | 7 | 20 | 9 | (2) | ||
| Comprehensive income: | 110 | 191 | 219 | 208 | 101 | 100 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (19) | (15) | (15) | (14) | (14) | (15) | ||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (1) | (1) | (1) | (1) | (1) | (1) | ||
| Comprehensive income, net of tax, attributable to parent: | 91 | 175 | 203 | 193 | 87 | 84 | ||
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.