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Capitalization | 6 Months Ended
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Jun. 30, 2012
Debt Disclosure [Abstract] |
Capitalization | Capitalization Information concerning financing activities, including a TNMP cash-flow hedge that establishes a fixed interest rate on a variable rate loan, is contained in Note 6 of the Notes to Consolidated Financial Statements in the 2011 Annual Reports on Form 10-K. Short-term Debt PNMR has a revolving credit financing capacity of $300.0 million under the PNMR Revolving Credit Facility. PNM has a revolving credit financing capacity of $400.0 million under the PNM Revolving Credit Facility. These facilities expire on October 31, 2016, and include two one-year extension options, subject to approval by the lenders. PNMR also has a bi-lateral line of credit amounting to $5.0 million that expires in August 2012. TNMP has a revolving credit facility with financing capacity of $75.0 million under the TNMP Revolving Credit Facility that expires in December 2015. At June 30, 2012, the weighted average interest rate was 2.00% for the PNMR Revolving Credit Facility and 1.75% for the PNM Revolving Credit Facility. Short-term debt outstanding consisted of:
|  | June 30, |  | December 31,
Short-term Debt |  | 2012 |  | 2011
|  | (In thousands)
PNM – Revolving credit facility |  | $ | 86,400 |  |  | $ | 66,000 |
TNMP – Revolving credit facility |  | — |  |  | — |
PNMR |  |  |  |
Revolving credit facility |  | 120,600 |  |  | 16,700 |
Bi-lateral line of credit |  | — |  |  | — |
|  | $ | 207,000 |  |  | $ | 82,700 |
At July 27, 2012, PNMR, PNM, and TNMP had $178.8 million, $317.0 million, and $74.7 million of availability under their respective revolving credit facilities and bi-lateral line of credit, including reductions of availability due to outstanding letters of credit. Total availability at July 27, 2012, on a consolidated basis, was $570.5 million for PNMR. As of July 27, 2012, TNMP had $7.3 million in borrowings from PNMR under their intercompany loan agreement. Financing Activities In April 2012, PNM filed an application with the NMPRC requesting approval to refinance $20.0 million of its currently outstanding PCRBs with new PCRBs anticipated to have a lower overall financing cost. The NMPRC approved PNM's application in May 2012. PNM currently has no commitments or arrangements regarding this proposed financing. Timing of the proposed financing will depend on market and other conditions. PNM also received NMPRC authority to exercise the two one-year extension options under the PNM Revolving Credit Facility. Convertible Preferred Stock PNMR had 477,800 shares of Series A convertible preferred stock outstanding through September 23, 2011 when it entered into an agreement to purchase all of the outstanding shares. The Series A convertible preferred stock was convertible into PNMR common stock in a ratio of 10 shares of common stock for each share of preferred stock and received dividends equivalent to dividends paid on PNMR common stock as if the preferred stock had been converted into common stock. The Series A convertible preferred stock was entitled to vote on all matters voted upon by common stockholders, except for the election of the Board, and would have received distributions substantially equivalent to common stock in the event of liquidation of PNMR. The terms of the Series A convertible preferred stock resulted in it being substantially equivalent to common stock. Therefore, for earnings per share purposes, the number of common shares into which the Series A convertible preferred stock was convertible was included in the weighted average number of common shares outstanding for periods the Series A convertible preferred stock was outstanding. Similarly, dividends on the Series A convertible preferred stock were considered to be common dividends in the accompanying Condensed Consolidated Financial Statements.

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- Definition Tabular disclosure of the capitalization of the entity comprised of its long-term debt and equity instruments. The table may be detailed by subsidiary (legal entity) and include information by type of debt or equity detailed by instrument. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 303 -Paragraph a -Subparagraph 1 + Details
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