$TXNM
TXNM ENERGY INC

2023 Q4 Form 10-Q Financial Statement

#000110842623000057 Filed on October 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $412.1M $505.9M
YoY Change -28.43% -30.69%
Cost Of Revenue
YoY Change
Gross Profit $177.2M
YoY Change -34.19%
Gross Profit Margin 35.03%
Selling, General & Admin $60.27M $58.48M
YoY Change -2.51% 0.61%
% of Gross Profit 33.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $82.10M $88.71M
YoY Change -3.77% 3.31%
% of Gross Profit 50.07%
Operating Expenses $393.0M $416.9M
YoY Change -24.32% -23.88%
Operating Profit $86.65M
YoY Change -52.59%
Interest Expense -$29.87M $49.84M
YoY Change 7.87% 44.35%
% of Operating Profit 57.52%
Other Income/Expense, Net $1.776M $4.555M
YoY Change 339.6% 176.56%
Pretax Income -$74.83M $37.65M
YoY Change -355.82% -73.14%
Income Tax -$29.09M -$5.267M
% Of Pretax Income -13.99%
Net Earnings -$50.23M $42.92M
YoY Change -419.0% -66.14%
Net Earnings / Revenue -12.19% 8.48%
Basic Earnings Per Share $0.44
Diluted Earnings Per Share -$0.59 $0.44
COMMON SHARES
Basic Shares Outstanding 85.83M shares 85.83M shares
Diluted Shares Outstanding 86.13M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.215M $7.768M
YoY Change -45.68% 38.17%
Cash & Equivalents $2.215M $7.768M
Short-Term Investments $444.4M
Other Short-Term Assets $8.920M $5.909M
YoY Change -71.79% -8.43%
Inventory $98.03M $83.39M
Prepaid Expenses $19.76M $21.71M
Receivables $126.3M $175.2M
Other Receivables $83.21M $27.60M
Total Short-Term Assets $475.5M $489.2M
YoY Change 15.71% 19.39%
LONG-TERM ASSETS
Property, Plant & Equipment $7.821B $7.626B
YoY Change 10.85% 10.81%
Goodwill $278.3M $278.3M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $119.6M $118.6M
YoY Change 31.95% 30.76%
Other Assets $1.113B $1.117B
YoY Change 10.85% 12.73%
Total Long-Term Assets $9.777B $9.562B
YoY Change 10.52% 10.93%
TOTAL ASSETS
Total Short-Term Assets $475.5M $489.2M
Total Long-Term Assets $9.777B $9.562B
Total Assets $10.25B $10.05B
YoY Change 10.75% 11.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $205.2M $157.0M
YoY Change -4.88% 23.17%
Accrued Expenses $110.9M $97.98M
YoY Change 16.07% -7.1%
Deferred Revenue $6.237M $6.259M
YoY Change 1.96% 5.78%
Short-Term Debt $261.9M $405.5M
YoY Change 12.89% 573.59%
Long-Term Debt Due $280.2M $502.4M
YoY Change 51.61% 172.05%
Total Short-Term Liabilities $1.231B $1.479B
YoY Change 38.23% 121.85%
LONG-TERM LIABILITIES
Long-Term Debt $4.242B $3.903B
YoY Change 8.97% 0.24%
Other Long-Term Liabilities $1.507B $1.495B
YoY Change 9.28% 8.38%
Total Long-Term Liabilities $4.242B $3.903B
YoY Change 8.97% 0.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.231B $1.479B
Total Long-Term Liabilities $4.242B $3.903B
Total Liabilities $7.842B $7.753B
YoY Change 12.01% 14.66%
SHAREHOLDERS EQUITY
Retained Earnings $787.1M $872.3M
YoY Change -5.04% 3.27%
Common Stock $1.625B $1.425B
YoY Change 13.7% -0.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.349B $2.235B
YoY Change
Total Liabilities & Shareholders Equity $10.25B $10.05B
YoY Change 10.75% 11.32%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$50.23M $42.92M
YoY Change -419.0% -66.14%
Depreciation, Depletion And Amortization $82.10M $88.71M
YoY Change -3.77% 3.31%
Cash From Operating Activities $138.6M $170.2M
YoY Change -0.87% -18.83%
INVESTING ACTIVITIES
Capital Expenditures $267.9M $270.9M
YoY Change 27.76% -219.27%
Acquisitions
YoY Change
Other Investing Activities -$8.649M -$10.69M
YoY Change -70.42% 109.9%
Cash From Investing Activities -$276.5M -$281.6M
YoY Change 15.74% 21.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 134.1M 111.6M
YoY Change 37.45% 350.96%
NET CHANGE
Cash From Operating Activities 138.6M 170.2M
Cash From Investing Activities -276.5M -281.6M
Cash From Financing Activities 134.1M 111.6M
Net Change In Cash -3.825M 128.0K
YoY Change 147.73% -94.01%
FREE CASH FLOW
Cash From Operating Activities $138.6M $170.2M
Capital Expenditures $267.9M $270.9M
Free Cash Flow -$129.3M -$100.8M
YoY Change 85.02% -123.07%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2023Q3 us-gaap Debt Securities Realized Gain Loss
DebtSecuritiesRealizedGainLoss
-3269000 usd
CY2022Q3 us-gaap Debt Securities Realized Gain Loss
DebtSecuritiesRealizedGainLoss
-9465000 usd
us-gaap Debt Securities Realized Gain Loss
DebtSecuritiesRealizedGainLoss
-3616000 usd
us-gaap Debt Securities Realized Gain Loss
DebtSecuritiesRealizedGainLoss
-33519000 usd
CY2023Q3 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
-8404000 usd
CY2022Q3 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
-15736000 usd
us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
1815000 usd
us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
-84104000 usd
pnm Finance Lease Cost
FinanceLeaseCost
2089000 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
360000 usd
CY2023Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
3933137000 usd
CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
3726195000 usd
CY2023Q3 us-gaap Cash Flow Hedge Derivative Instrument Assets At Fair Value
CashFlowHedgeDerivativeInstrumentAssetsAtFairValue
14000000 usd
CY2023Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
405500000 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
232000000 usd
CY2023Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
3100000 usd
pnm Number Of Monitoring Wells Containing Free Phase Hydrocarbon Products
NumberOfMonitoringWellsContainingFreePhaseHydrocarbonProducts
1 monitoringwell
CY2020Q1 pnm Number Of Field Work Reports
NumberOfFieldWorkReports
2 numberofamimeter
CY2020Q3 pnm Number Of Field Work Reports
NumberOfFieldWorkReports
2 numberofamimeter
CY2023Q3 pnm Public Utilities Excess Return On Jurisdictional Equity That Would Require Refund
PublicUtilitiesExcessReturnOnJurisdictionalEquityThatWouldRequireRefund
0.005
pnm Public Utilities Return On Equity Percentage
PublicUtilitiesReturnOnEquityPercentage
0.10173
us-gaap Public Utilities Approved Return On Equity Percentage
PublicUtilitiesApprovedReturnOnEquityPercentage
0.10075
pnm Public Utilities Allowed Return On Equity
PublicUtilitiesAllowedReturnOnEquity
0.09575
pnm Public Utilities Allowed Return On Equity Additional
PublicUtilitiesAllowedReturnOnEquityAdditional
0.005
CY2023Q3 pnm Regulatory Disallowance
RegulatoryDisallowance
3700000 usd
CY2023Q3 pnm Net Utility Plant Increase Decrease In Leasehold Improvements During The Period
NetUtilityPlantIncreaseDecreaseInLeaseholdImprovementsDuringThePeriod
-88200000 usd
CY2023Q3 pnm Deferred Regulatory Asset Increase Decrease During The Period
DeferredRegulatoryAssetIncreaseDecreaseDuringThePeriod
88200000 usd
CY2023Q3 pnm Lessee Operating Lease Payments To Lessor Upon Occurrence Of Certain Events
LesseeOperatingLeasePaymentsToLessorUponOccurrenceOfCertainEvents
13500000 usd
CY2023Q3 pnm Unamortized Cost Of Prepaid Right Of Way Agreements
UnamortizedCostOfPrepaidRightOfWayAgreements
56700000 usd
CY2022Q4 pnm Unamortized Cost Of Prepaid Right Of Way Agreements
UnamortizedCostOfPrepaidRightOfWayAgreements
54600000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
800000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
2600000 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
900000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
2900000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
185989000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
55982000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
11983000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
18781000 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
168849000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
41336000 usd
CY2023Q3 pnm Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
48143000 usd
CY2022Q4 pnm Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
39738000 usd
CY2023Q3 pnm Finance Lease Right Of Use Asset Accumulated Depreciation
FinanceLeaseRightOfUseAssetAccumulatedDepreciation
21851000 usd
CY2022Q4 pnm Finance Lease Right Of Use Asset Accumulated Depreciation
FinanceLeaseRightOfUseAssetAccumulatedDepreciation
16189000 usd
CY2023Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
26292000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
23549000 usd
CY2023Q3 pnm Finance Lease Liability Current Other
FinanceLeaseLiabilityCurrentOther
8813000 usd
CY2022Q4 pnm Finance Lease Liability Current Other
FinanceLeaseLiabilityCurrentOther
7363000 usd
CY2023Q3 pnm Finance Lease Liability Deferred Credits Other
FinanceLeaseLiabilityDeferredCreditsOther
17486000 usd
CY2022Q4 pnm Finance Lease Liability Deferred Credits Other
FinanceLeaseLiabilityDeferredCreditsOther
16123000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P16Y11M1D
CY2023Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M10D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0560
CY2023Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0434
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
4346000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
11552000 usd
CY2023Q3 pnm Operating Lease Capitalized Costs
OperatingLeaseCapitalizedCosts
373000 usd
pnm Operating Lease Capitalized Costs
OperatingLeaseCapitalizedCosts
1365000 usd
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
3973000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
10187000 usd
CY2023Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2389000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
6718000 usd
CY2023Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
274000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
982000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
190000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
490000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
5271000 usd
us-gaap Lease Cost
LeaseCost
13748000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
7205000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
21623000 usd
CY2022Q3 pnm Operating Lease Capitalized Costs
OperatingLeaseCapitalizedCosts
577000 usd
pnm Operating Lease Capitalized Costs
OperatingLeaseCapitalizedCosts
1860000 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
6628000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
19763000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1585000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
4680000 usd
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
170000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
471000 usd
CY2022Q3 pnm Finance Lease Capitalized Costs
FinanceLeaseCapitalizedCosts
1417000 usd
pnm Finance Lease Capitalized Costs
FinanceLeaseCapitalizedCosts
3957000 usd
CY2022Q3 pnm Finance Lease Cost
FinanceLeaseCost
338000 usd
pnm Finance Lease Cost
FinanceLeaseCost
1194000 usd
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
262000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
629000 usd
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
567000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
2884000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
7795000 usd
us-gaap Lease Cost
LeaseCost
24470000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
18827000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
25670000 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
183000 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
101000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1836000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1249000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
138884000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2924000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
9485000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
5381000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
2646000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
9088000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
7004000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
5309000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
2798000 usd
CY2023Q3 pnm Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
1605000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
28450000 usd
CY2023Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2151000 usd
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
26299000 usd
CY2023Q3 pnm Lessee Operating Lease Unguaranteed Residual Value
LesseeOperatingLeaseUnguaranteedResidualValue
25900000 usd
CY2023Q3 pnm Lessee Operating Lease Lease Not Yet Commenced Fixed Consideration
LesseeOperatingLeaseLeaseNotYetCommencedFixedConsideration
961000000 usd
CY2023Q3 us-gaap Lessee Operating Lease Lease Not Yet Commenced Term Of Contract1
LesseeOperatingLeaseLeaseNotYetCommencedTermOfContract1
P20Y
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.1605
us-gaap Income Tax Examination Estimate Of Possible Loss
IncomeTaxExaminationEstimateOfPossibleLoss
300000 usd
us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
22900000 usd
CY2018Q2 us-gaap Reporting Unit Percentage Of Fair Value In Excess Of Carrying Amount
ReportingUnitPercentageOfFairValueInExcessOfCarryingAmount
0.19
CY2023Q2 pnm Business Combination Merger Agreement Period Extension
BusinessCombinationMergerAgreementPeriodExtension
P3M
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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