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Earnings Per Share
 6 Months Ended
Jun. 30, 2011
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share


In accordance with GAAP, dual presentation of basic and diluted earnings per share has been presented in the Condensed Consolidated Statements of Earnings of PNMR. Information regarding the computation of earnings per share is as follows:
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2011
 
2010
 
2011
 
2010
 
(In thousands, except per share amounts)
Net Earnings Attributable to PNMR
$
4,067


 
$
22,878


 
$
20,704


 
$
14,429


Average Number of Common Shares:
 
 
 
 
 
 
 
Outstanding during period
86,673


 
86,673


 
86,673


 
86,673


Equivalents from convertible preferred stock (Note 7)
4,778


 
4,778


 
4,778


 
4,778


    Vested awards of restricted stock
139


 
109


 
149


 
102


Average Shares - Basic
91,590


 
91,560


 
91,600


 
91,553


Dilutive Effect of Common Stock Equivalents (1):
 
 
 
 
 
 
 
Stock options and restricted stock
546


 
273


 
502


 
141


Average Shares - Diluted
92,136


 
91,833


 
92,102


 
91,694


Net Earnings Per Share of Common Stock:
 
 
 
 
 
 
 
Basic
$
0.04


 
$
0.25


 
$
0.23


 
$
0.16


Diluted
$
0.04


 
$
0.25


 
$
0.22


 
$
0.16




(1)
Excludes the effect of out-of-the-money options for 1,978,010 shares of common stock at June 30, 2011.