XML 49 R11.htm IDEA: XBRL DOCUMENT ﻿
v2.3.0.11

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2011
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | Segment Information The following segment presentation is based on the methodology that management uses for making operating decisions and assessing performance of its various business activities. A reconciliation of the segment presentation to the GAAP financial statements is provided. PNM Electric PNM Electric includes the retail electric utility operations of PNM that are subject to traditional rate regulation by the NMPRC. PNM Electric provides integrated electricity services that include the generation, transmission, and distribution of electricity for retail electric customers in New Mexico as well as the sale of transmission to third parties. PNM Electric also includes the generation and sale of electricity into the wholesale market. This includes the asset optimization of PNM’s jurisdictional assets as well as the capacity excluded from retail rates. FERC has jurisdiction over wholesale rates. TNMP Electric TNMP Electric is an electric utility operating in Texas. TNMP’s operations are subject to traditional rate regulation by the PUCT. TNMP provides regulated transmission and distribution services in Texas under the TECA. First Choice First Choice is a certified retail electric provider operating in Texas, which allows it to provide electricity to residential, small commercial, and governmental customers. Although First Choice is regulated in certain respects by the PUCT, it is not subject to traditional rate regulation. Optim Energy Optim Energy is considered a separate segment for PNMR. PNMR’s investment in Optim Energy is held in the Corporate and Other segment and is accounted for using the equity method of accounting. Optim Energy’s revenues and expenses are not included in PNMR’s consolidated revenues and expenses or the following tables. As described in Note 11, PNMR fully impaired its investment in Optim Energy as of December 31, 2010. Corporate and Other PNMR Services Company is included in the Corporate and Other segment. The following tables present summarized financial information for PNMR by segment. PNM and TNMP each operate in only one segment. Therefore, tabular segment information is not presented for PNM and TNMP. PNMR SEGMENT INFORMATION
| PNM Electric |  | TNMP Electric |  | First Choice |  | Corporate and Other |  | Consolidated
Three Months Ended June 30, 2011 | (In thousands)
Operating revenues | $ | 239,234 |  |  | $ | 50,359 |  |  | $ | 126,036 |  |  | $ | (43 | ) |  | $ | 415,586 |
Intersegment revenues | — |  |  | 9,598 |  |  | — |  |  | (9,598 | ) |  | — |
Total revenues | 239,234 |  |  | 59,957 |  |  | 126,036 |  |  | (9,641 | ) |  | 415,586 |
Cost of energy | 81,497 |  |  | 10,259 |  |  | 91,296 |  |  | (9,598 | ) |  | 173,454 |
Gross margin | 157,737 |  |  | 49,698 |  |  | 34,740 |  |  | (43 | ) |  | 242,132 |
Other operating expenses | 124,297 |  |  | 25,277 |  |  | 23,630 |  |  | (2,204 | ) |  | 171,000 |
Depreciation and amortization | 22,897 |  |  | 10,726 |  |  | 360 |  |  | 4,289 |  |  | 38,272 |
Operating income (loss) | 10,543 |  |  | 13,695 |  |  | 10,750 |  |  | (2,128 | ) |  | 32,860 |
Interest income | 4,225 |  |  | — |  |  | 31 |  |  | (22 | ) |  | 4,234 |
Other income (deductions) | 4,484 |  |  | 259 |  |  | (273 | ) |  | (1,648 | ) |  | 2,822 |
Net interest charges | (18,027 | ) |  | (7,305 | ) |  | (141 | ) |  | (5,039 | ) |  | (30,512 | )
Segment earnings (loss) before income taxes | 1,225 |  |  | 6,649 |  |  | 10,367 |  |  | (8,837 | ) |  | 9,404 |
Income taxes (benefit) | (872 | ) |  | 2,547 |  |  | 3,745 |  |  | (3,685 | ) |  | 1,735 |
Segment earnings (loss) | 2,097 |  |  | 4,102 |  |  | 6,622 |  |  | (5,152 | ) |  | 7,669 |
Valencia non-controlling interest | (3,470 | ) |  | — |  |  | — |  |  | — |  |  | (3,470 | )
Subsidiary preferred stock dividends | (132 | ) |  | — |  |  | — |  |  | — |  |  | (132 | )
Segment earnings (loss) attributable to PNMR | $ | (1,505 | ) |  | $ | 4,102 |  |  | $ | 6,622 |  |  | $ | (5,152 | ) |  | $ | 4,067 |
Six Months Ended June 30, 2011 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 473,472 |  |  | $ | 95,387 |  |  | $ | 234,486 |  |  | $ | (96 | ) |  | $ | 803,249 |
Intersegment revenues | — |  |  | 18,412 |  |  | — |  |  | (18,412 | ) |  | — |
Total revenues | 473,472 |  |  | 113,799 |  |  | 234,486 |  |  | (18,508 | ) |  | 803,249 |
Cost of energy | 170,711 |  |  | 20,412 |  |  | 159,250 |  |  | (18,412 | ) |  | 331,961 |
Gross margin | 302,761 |  |  | 93,387 |  |  | 75,236 |  |  | (96 | ) |  | 471,288 |
Other operating expenses | 227,423 |  |  | 44,981 |  |  | 42,616 |  |  | (5,556 | ) |  | 309,464 |
Depreciation and amortization | 46,632 |  |  | 20,987 |  |  | 641 |  |  | 8,485 |  |  | 76,745 |
Operating income (loss) | 28,706 |  |  | 27,419 |  |  | 31,979 |  |  | (3,025 | ) |  | 85,079 |
Interest income | 8,282 |  |  | — |  |  | 34 |  |  | (55 | ) |  | 8,261 |
Other income (deductions) | 9,702 |  |  | 575 |  |  | (379 | ) |  | (3,250 | ) |  | 6,648 |
Net interest charges | (36,107 | ) |  | (14,604 | ) |  | (286 | ) |  | (10,130 | ) |  | (61,127 | )
Segment earnings (loss) before income taxes | 10,583 |  |  | 13,390 |  |  | 31,348 |  |  | (16,460 | ) |  | 38,861 |
Income taxes (benefit) | 1,522 |  |  | 5,125 |  |  | 11,237 |  |  | (6,643 | ) |  | 11,241 |
Segment earnings (loss) | 9,061 |  |  | 8,265 |  |  | 20,111 |  |  | (9,817 | ) |  | 27,620 |
Valencia non-controlling interest | (6,652 | ) |  | — |  |  | — |  |  | — |  |  | (6,652 | )
Subsidiary preferred stock dividends | (264 | ) |  | — |  |  | — |  |  | — |  |  | (264 | )
Segment earnings (loss) attributable to PNMR | $ | 2,145 |  |  | $ | 8,265 |  |  | $ | 20,111 |  |  | $ | (9,817 | ) |  | $ | 20,704 |
At June 30, 2011: |  |  |  |  |  |  |  |  |
Total Assets | $ | 3,920,154 |  |  | $ | 1,018,425 |  |  | $ | 254,352 |  |  | $ | 108,702 |  |  | $ | 5,301,633 |
Goodwill | $ | 51,632 |  |  | $ | 226,665 |  |  | $ | 43,013 |  |  | $ | — |  |  | $ | 321,310 |
Additions to utility and non-utility plant included in accounts payable | $ | 16,514 |  |  | $ | 360 |  |  | $ | 237 |  |  | $ | 1,165 |  |  | $ | 18,276 |
| PNM Electric |  | TNMP Electric |  | First Choice |  | Corporate and Other |  | Consolidated
Three Months Ended June 30, 2010 | (In thousands)
Operating revenues | $ | 243,060 |  |  | $ | 42,934 |  |  | $ | 119,916 |  |  | $ | (93 | ) |  | $ | 405,817 |
Intersegment revenues | — |  |  | 9,635 |  |  | — |  |  | (9,635 | ) |  | — |
Total revenues | 243,060 |  |  | 52,569 |  |  | 119,916 |  |  | (9,728 | ) |  | 405,817 |
Cost of energy | 79,639 |  |  | 9,057 |  |  | 72,121 |  |  | (9,636 | ) |  | 151,181 |
Gross margin | 163,421 |  |  | 43,512 |  |  | 47,795 |  |  | (92 | ) |  | 254,636 |
Other operating expenses | 107,107 |  |  | 19,031 |  |  | 21,253 |  |  | (3,805 | ) |  | 143,586 |
Depreciation and amortization | 22,924 |  |  | 10,040 |  |  | 210 |  |  | 4,202 |  |  | 37,376 |
Operating income (loss) | 33,390 |  |  | 14,441 |  |  | 26,332 |  |  | (489 | ) |  | 73,674 |
Interest income | 5,081 |  |  | — |  |  | 11 |  |  | (9 | ) |  | 5,083 |
Equity in net earnings (loss) of Optim Energy | — |  |  | — |  |  | — |  |  | (3,858 | ) |  | (3,858 | )
Other income (deductions) | (1,991 | ) |  | 283 |  |  | (90 | ) |  | (1,546 | ) |  | (3,344 | )
Net interest charges | (18,385 | ) |  | (7,953 | ) |  | (387 | ) |  | (5,036 | ) |  | (31,761 | )
Segment earnings (loss) before income taxes | 18,095 |  |  | 6,771 |  |  | 25,866 |  |  | (10,938 | ) |  | 39,794 |
Income taxes (benefit) | 5,901 |  |  | 2,665 |  |  | 9,313 |  |  | (4,387 | ) |  | 13,492 |
Segment earnings (loss) | 12,194 |  |  | 4,106 |  |  | 16,553 |  |  | (6,551 | ) |  | 26,302 |
Valencia non-controlling interest | (3,292 | ) |  | — |  |  | — |  |  | — |  |  | (3,292 | )
Subsidiary preferred stock dividends | (132 | ) |  | — |  |  | — |  |  | — |  |  | (132 | )
Segment earnings (loss) attributable to PNMR | $ | 8,770 |  |  | $ | 4,106 |  |  | $ | 16,553 |  |  | $ | (6,551 | ) |  | $ | 22,878 |
Six Months Ended June 30, 2010 |  |  |  |  |  |  |  |  |
Operating revenues | $ | 473,596 |  |  | $ | 81,525 |  |  | $ | 234,306 |  |  | $ | (215 | ) |  | $ | 789,212 |
Intersegment revenues | — |  |  | 19,221 |  |  | — |  |  | (19,221 | ) |  | — |
Total revenues | 473,596 |  |  | 100,746 |  |  | 234,306 |  |  | (19,436 | ) |  | 789,212 |
Cost of energy | 166,073 |  |  | 18,107 |  |  | 177,111 |  |  | (19,222 | ) |  | 342,069 |
Gross margin | 307,523 |  |  | 82,639 |  |  | 57,195 |  |  | (214 | ) |  | 447,143 |
Other operating expenses | 215,900 |  |  | 37,822 |  |  | 41,701 |  |  | (7,091 | ) |  | 288,332 |
Depreciation and amortization | 45,776 |  |  | 20,135 |  |  | 473 |  |  | 8,271 |  |  | 74,655 |
Operating income (loss) | 45,847 |  |  | 24,682 |  |  | 15,021 |  |  | (1,394 | ) |  | 84,156 |
Interest income | 10,015 |  |  | — |  |  | 13 |  |  | 82 |  |  | 10,110 |
Equity in net earnings (loss) of Optim Energy | — |  |  | — |  |  | — |  |  | (8,210 | ) |  | (8,210 | )
Other income (deductions) | 9,167 |  |  | 630 |  |  | (98 | ) |  | (2,943 | ) |  | 6,756 |
Net interest charges | (36,462 | ) |  | (15,822 | ) |  | (697 | ) |  | (10,190 | ) |  | (63,171 | )
Segment earnings (loss) before income taxes | 28,567 |  |  | 9,490 |  |  | 14,239 |  |  | (22,655 | ) |  | 29,641 |
Income taxes (benefit) | 8,822 |  |  | 3,740 |  |  | 5,139 |  |  | (9,149 | ) |  | 8,552 |
Segment earnings (loss) | 19,745 |  |  | 5,750 |  |  | 9,100 |  |  | (13,506 | ) |  | 21,089 |
Valencia non-controlling interest | (6,396 | ) |  | — |  |  | — |  |  | — |  |  | (6,396 | )
Subsidiary preferred stock dividends | (264 | ) |  | — |  |  | — |  |  | — |  |  | (264 | )
Segment earnings (loss) attributable to PNMR | $ | 13,085 |  |  | $ | 5,750 |  |  | $ | 9,100 |  |  | $ | (13,506 | ) |  | $ | 14,429 |
At June 30, 2010: |  |  |  |  |  |  |  |  |
Total Assets | $ | 3,813,524 |  |  | $ | 1,013,131 |  |  | $ | 239,035 |  |  | $ | 337,832 |  |  | $ | 5,403,522 |
Goodwill | $ | 51,632 |  |  | $ | 226,665 |  |  | $ | 43,013 |  |  | $ | — |  |  | $ | 321,310 |

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration