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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - PUBLIC SERVICE COMPANY OF NEW MEXICO AND SUBSIDIARIES - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash Flows From Operating Activities:    
Net earnings $ 251,396 $ 175,114
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 379,835 361,095
Deferred income tax expense 37,342 19,901
Losses on investment securities (5,580) (33,691)
Regulatory disallowances 0 (731)
Allowance for equity funds used during construction (17,284) (11,319)
Other, net 2,863 2,735
Changes in certain assets and liabilities:    
Accounts receivable and unbilled revenues (94,175) (76,923)
Materials, supplies, and fuel stock (20,100) (6,125)
Other current assets (76,017) (13,584)
Other assets (61,557) (27,568)
Accounts payable (7,402) 3,007
Accrued interest and taxes 32,078 28,770
Other current liabilities 24,906 (2,620)
Other liabilities 496 2,053
Net cash flows from operating activities 452,533 426,790
Cash Flows From Investing Activities:    
Utility plant additions (903,010) (886,111)
Proceeds from sales of investment securities 424,925 440,720
Purchases of investment securities (430,093) (445,054)
Other, net 111 (75)
Net cash flows used in investing activities (908,067) (890,520)
Cash Flows From Financing Activities:    
Short-term borrowings 2,912,050 1,910,600
Repayments of short-term borrowings (2,857,450) (2,206,100)
Long-term borrowings 945,000 3,153,600
Repayment of long-term debt (602,303) (2,990,507)
Dividends paid (136,726) (118,855)
Valencia’s transactions with its owner (8,441) (15,102)
Transmission interconnection and security deposit arrangements 152,889 33,936
Refunds paid under transmission interconnection and security deposit arrangements (65,021) (102,811)
Debt issuance costs and other, net (7,234) (17,590)
Net cash flows from financing activities 458,262 481,629
Change in Cash, Cash Equivalents, and Restricted Cash 2,728 17,899
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 31,953 22,085
Cash, Cash Equivalents, and Restricted Cash at End of Period 34,681 39,984
Restricted Cash included in Other Current Assets and Other Deferred Charges on Condensed Consolidated Balance Sheets:    
At beginning of period 13,697 17,587
At end of period 5,951 7,918
Supplemental Cash Flow Disclosures:    
Interest paid, net of amounts capitalized 189,934 161,677
Income taxes paid, net 2,048 2,350
Supplemental schedule of noncash investing activities:    
Decrease (increase) in accrued plant additions 43,844 53,059
PNM    
Cash Flows From Operating Activities:    
Net earnings 169,789 141,641
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 226,066 210,111
Deferred income tax expense 21,255 13,623
Losses on investment securities (5,580) (33,691)
Regulatory disallowances 0 (731)
Allowance for equity funds used during construction (8,627) (5,986)
Other, net 3,397 2,942
Changes in certain assets and liabilities:    
Accounts receivable and unbilled revenues (67,786) (53,639)
Materials, supplies, and fuel stock 1,876 114
Other current assets (21,145) (4,620)
Other assets (37,101) (10,891)
Accounts payable (8,324) (573)
Accrued interest and taxes 19,087 22,674
Other current liabilities 21,882 (3,662)
Other liabilities (1,495) (16,266)
Net cash flows from operating activities 313,294 261,046
Cash Flows From Investing Activities:    
Utility plant additions (472,875) (447,091)
Proceeds from sales of investment securities 424,925 440,720
Purchases of investment securities (430,093) (445,054)
Other, net 110 (84)
Net cash flows used in investing activities (477,933) (451,509)
Cash Flows From Financing Activities:    
Short-term borrowings 993,500 784,400
Repayments of short-term borrowings (1,123,400) (989,900)
Long-term borrowings 395,000 845,000
Repayment of long-term debt (202,303) (360,907)
Equity contribution from parent 105,000 0
Dividends paid (396) (396)
Valencia’s transactions with its owner (8,441) (15,102)
Transmission interconnection and security deposit arrangements 28,828 11,486
Refunds paid under transmission interconnection and security deposit arrangements (22,700) (82,061)
Debt issuance costs and other, net (3,187) (5,258)
Net cash flows from financing activities 161,901 187,262
Change in Cash, Cash Equivalents, and Restricted Cash (2,738) (3,201)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 13,716 20,285
Cash, Cash Equivalents, and Restricted Cash at End of Period 10,978 17,084
Restricted Cash included in Other Current Assets and Other Deferred Charges on Condensed Consolidated Balance Sheets:    
At beginning of period 13,697 17,587
At end of period 5,951 7,918
Supplemental Cash Flow Disclosures:    
Interest paid, net of amounts capitalized 92,300 77,316
Income taxes paid, net 0 0
Supplemental schedule of noncash investing activities:    
Decrease (increase) in accrued plant additions $ (5,049) $ 14,433