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Optim Energy (Tables)
 6 Months Ended
Jun. 30, 2011
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments [Table Text Block]
Summarized financial information for Optim Energy is as follows:


Results of Operations
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2011
 
2010
 
2011
 
2010
 
 
 
(In thousands)
 
 
Operating revenues
$
77,315


 
$
86,871


 
$
151,248


 
$
192,465


Cost of energy
54,908


 
61,235


 
112,875


 
138,532


Gross margin
22,407


 
25,636


 
38,373


 
53,933


Non-fuel operations and maintenance expenses
9,408


 
6,450


 
18,651


 
16,970


Administrative and general expenses
6,356


 
4,944


 
13,293


 
10,556


Depreciation and amortization expense
13,126


 
12,852


 
24,739


 
24,909


Taxes other than income tax
2,347


 
3,162


 
4,717


 
6,596


     Operating income (loss)
(8,830
)
 
(1,772
)
 
(23,027
)
 
(5,098
)
Interest charges
(3,981
)
 
(4,661
)
 
(7,965
)
 
(9,332
)
Other income (deductions)
195


 
2
 
263


 
66
Earnings (loss) before income taxes
(12,616
)
 
(6,431
)
 
(30,729
)
 
(14,364
)
Income taxes(1)
94


 
36
 
141


 
68
Net earnings (loss)
$
(12,710
)
 
$
(6,467
)
 
$
(30,870
)
 
$
(14,432
)
50 percent of net earnings (loss)
$
(6,355
)
 
$
(3,234
)
 
$
(15,435
)
 
$
(7,216
)
Amortization of basis difference in Optim Energy
—


 
(624
)
 
—


 
(994
)
Post-impairment loss not recorded under GAAP
6,355


 
—


 
15,435


 
—


PNMR equity in net earnings (loss) of Optim Energy
$
—


 
$
(3,858
)
 
$
—


 
$
(8,210
)


(1) Represents the Texas Margin Tax, which is considered an income tax under GAAP.


Financial Position
 
June 30,
 
December 31,
 
2011
 
2010
 
(In thousands)
Current assets
$
102,851


 
$
105,413


Net property plant and equipment
908,666


 
924,354


Other long-term assets
112,196


 
120,894


Total assets
1,123,713


 
1,150,661


Current maturities of long-term debt
717,000


 
—


Other current liabilities
52,220


 
50,226


Long-term debt
—


 
717,000


Other long-term liabilities
9,397


 
7,515


Total liabilities
778,617


 
774,741


Owners’ equity
$
345,096


 
$
375,920


50 percent of owners’ equity
$
172,548


 
$
187,960


PNMR basis difference in Optim Energy
193


 
216
Impairment of equity investment in Optim Energy
(188,176
)
 
(188,176
)
Post-impairment loss not recorded under GAAP
15,435


 
—


PNMR equity investment in Optim Energy
$
—


 
$
—