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Segment Information | 9 Months Ended
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Sep. 30, 2012
Segment Reporting [Abstract] |
Segment Information | 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. PNM Electric also includes the generation and sale of electricity into the wholesale market as well as providing transmission services to third parties. The sale of electricity includes the asset optimization of PNM's jurisdictional assets as well as the capacity excluded from retail rates. FERC has jurisdiction over wholesale and transmission rates. TNMP Electric TNMP Electric is an electric utility providing regulated transmission and distribution services in Texas under the TECA. TNMP's operations are subject to traditional rate regulation by the PUCT. First Choice First Choice, which was sold by PNMR on November 1, 2011 (Note 14), operated as a certified retail electric provider in Texas. First Choice provided electricity to residential, small commercial, and governmental customers. Although First Choice was regulated in certain respects by the PUCT, it was not subject to traditional rate regulation. Corporate and Other The Corporate and Other segment includes PNMR holding company activities, primarily related to corporate level debt and PNMR Services Company. 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 |  | Corporate and Other |  | Consolidated
Three Months Ended September 30, 2012 | (In thousands)
Electric operating revenues | $ | 321,731 |  |  | $ | 68,680 |  |  | $ | — |  |  | $ | 390,411 |
Cost of energy | 99,217 |  |  | 11,560 |  |  | — |  |  | 110,777 |
Margin | 222,514 |  |  | 57,120 |  |  | — |  |  | 279,634 |
Other operating expenses | 101,104 |  |  | 22,331 |  |  | (4,771 | ) |  | 118,664 |
Depreciation and amortization | 24,437 |  |  | 13,819 |  |  | 4,564 |  |  | 42,820 |
Operating income | 96,973 |  |  | 20,970 |  |  | 207 |  |  | 118,150 |
Interest income | 3,173 |  |  | — |  |  | (43 | ) |  | 3,130 |
Other income (deductions) | 5,210 |  |  | 366 |  |  | (827 | ) |  | 4,749 |
Net interest charges | (19,230 | ) |  | (7,047 | ) |  | (4,238 | ) |  | (30,515 | )
Segment earnings (loss) before income taxes | 86,126 |  |  | 14,289 |  |  | (4,901 | ) |  | 95,514 |
Income taxes (benefit) | 31,235 |  |  | 5,205 |  |  | (2,902 | ) |  | 33,538 |
Segment earnings (loss) | 54,891 |  |  | 9,084 |  |  | (1,999 | ) |  | 61,976 |
Valencia non-controlling interest | (3,980 | ) |  | — |  |  | — |  |  | (3,980 | )
Subsidiary preferred stock dividends | (132 | ) |  | — |  |  | — |  |  | (132 | )
Segment earnings (loss) attributable to PNMR | $ | 50,779 |  |  | $ | 9,084 |  |  | $ | (1,999 | ) |  | $ | 57,864 |
Nine Months Ended September 30, 2012 |  |  |  |  |  |  |
Electric operating revenues | $ | 832,242 |  |  | $ | 187,404 |  |  | $ | — |  |  | $ | 1,019,646 |
Cost of energy | 263,009 |  |  | 34,333 |  |  | — |  |  | 297,342 |
Margin | 569,233 |  |  | 153,071 |  |  | — |  |  | 722,304 |
Other operating expenses | 311,468 |  |  | 64,239 |  |  | (12,676 | ) |  | 363,031 |
Depreciation and amortization | 72,017 |  |  | 37,173 |  |  | 13,099 |  |  | 122,289 |
Operating income (loss) | 185,748 |  |  | 51,659 |  |  | (423 | ) |  | 236,984 |
Interest income | 9,938 |  |  | 1 |  |  | (131 | ) |  | 9,808 |
Other income (deductions) | 9,201 |  |  | 1,244 |  |  | (4,797 | ) |  | 5,648 |
Net interest charges | (56,652 | ) |  | (21,214 | ) |  | (12,414 | ) |  | (90,280 | )
Segment earnings (loss) before income taxes | 148,235 |  |  | 31,690 |  |  | (17,765 | ) |  | 162,160 |
Income taxes (benefit) | 51,929 |  |  | 11,577 |  |  | (8,897 | ) |  | 54,609 |
Segment earnings (loss) | 96,306 |  |  | 20,113 |  |  | (8,868 | ) |  | 107,551 |
Valencia non-controlling interest | (10,699 | ) |  | — |  |  | — |  |  | (10,699 | )
Subsidiary preferred stock dividends | (396 | ) |  | — |  |  | — |  |  | (396 | )
Segment earnings (loss) attributable to PNMR | $ | 85,211 |  |  | $ | 20,113 |  |  | $ | (8,868 | ) |  | $ | 96,456 |
At September 30, 2012: |  |  |  |  |  |  |
Total Assets | $ | 4,073,331 |  |  | $ | 1,060,062 |  |  | $ | 126,814 |  |  | $ | 5,260,207 |
Goodwill | $ | 51,632 |  |  | $ | 226,665 |  |  | $ | — |  |  | $ | 278,297 |
Additions to utility and non-utility plant included in accounts payable | $ | 6,056 |  |  | $ | 886 |  |  | $ | 1,063 |  |  | $ | 8,005 |
| PNM Electric |  | TNMP Electric |  | First Choice |  | Corporate and Other |  | Consolidated
Three Months Ended September 30, 2011 | (In thousands)
Electric revenues from non-affiliates | $ | 323,760 |  |  | $ | 54,787 |  |  | $ | 170,999 |  |  | $ | (48 | ) |  | $ | 549,498 |
Intersegment revenues | — |  |  | 12,196 |  |  | — |  |  | (12,196 | ) |  | — |
Total electric operating revenues | 323,760 |  |  | 66,983 |  |  | 170,999 |  |  | (12,244 | ) |  | 549,498 |
Cost of energy | 108,708 |  |  | 10,307 |  |  | 144,035 |  |  | (12,196 | ) |  | 250,854 |
Margin | 215,052 |  |  | 56,676 |  |  | 26,964 |  |  | (48 | ) |  | 298,644 |
Other operating expenses | 102,080 |  |  | 22,451 |  |  | 25,076 |  |  | (1,617 | ) |  | 147,990 |
Depreciation and amortization | 25,058 |  |  | 12,674 |  |  | 346 |  |  | 4,292 |  |  | 42,370 |
Operating income (loss) | 87,914 |  |  | 21,551 |  |  | 1,542 |  |  | (2,723 | ) |  | 108,284 |
Interest income | 3,770 |  |  | 1 |  |  | 29 |  |  | (52 | ) |  | 3,748 |
Other income (deductions) | (5,573 | ) |  | 313 |  |  | (115 | ) |  | (1,664 | ) |  | (7,039 | )
Net interest charges | (18,487 | ) |  | (7,276 | ) |  | (249 | ) |  | (5,112 | ) |  | (31,124 | )
Segment earnings (loss) before income taxes | 67,624 |  |  | 14,589 |  |  | 1,207 |  |  | (9,551 | ) |  | 73,869 |
Income taxes (benefit) | 25,052 |  |  | 5,721 |  |  | 594 |  |  | (5,403 | ) |  | 25,964 |
Segment earnings (loss) | 42,572 |  |  | 8,868 |  |  | 613 |  |  | (4,148 | ) |  | 47,905 |
Valencia non-controlling interest | (4,111 | ) |  | — |  |  | — |  |  | — |  |  | (4,111 | )
Subsidiary preferred stock dividends | (132 | ) |  | — |  |  | — |  |  | — |  |  | (132 | )
Segment earnings (loss) attributable to PNMR | $ | 38,329 |  |  | $ | 8,868 |  |  | $ | 613 |  |  | $ | (4,148 | ) |  | $ | 43,662 |
Nine Months Ended September 30, 2011 |  |  |  |  |  |  |  |  |
Electric revenues from non-affiliates | $ | 797,232 |  |  | $ | 150,175 |  |  | $ | 405,485 |  |  | $ | (145 | ) |  | $ | 1,352,747 |
Intersegment revenues | — |  |  | 30,608 |  |  | — |  |  | (30,608 | ) |  | — |
Total electric operating revenues | 797,232 |  |  | 180,783 |  |  | 405,485 |  |  | (30,753 | ) |  | 1,352,747 |
Cost of energy | 279,419 |  |  | 30,719 |  |  | 303,285 |  |  | (30,609 | ) |  | 582,814 |
Margin | 517,813 |  |  | 150,064 |  |  | 102,200 |  |  | (144 | ) |  | 769,933 |
Other operating expenses | 329,502 |  |  | 67,431 |  |  | 67,693 |  |  | (7,172 | ) |  | 457,454 |
Depreciation and amortization | 71,691 |  |  | 33,662 |  |  | 987 |  |  | 12,775 |  |  | 119,115 |
Operating income (loss) | 116,620 |  |  | 48,971 |  |  | 33,520 |  |  | (5,747 | ) |  | 193,364 |
Interest income | 12,052 |  |  | 1 |  |  | 63 |  |  | (106 | ) |  | 12,010 |
Other income (deductions) | 4,129 |  |  | 887 |  |  | (494 | ) |  | (4,913 | ) |  | (391 | )
Net interest charges | (54,593 | ) |  | (21,880 | ) |  | (535 | ) |  | (15,243 | ) |  | (92,251 | )
Segment earnings (loss) before income taxes | 78,208 |  |  | 27,979 |  |  | 32,554 |  |  | (26,009 | ) |  | 112,732 |
Income taxes (benefit) | 26,574 |  |  | 10,845 |  |  | 11,833 |  |  | (12,046 | ) |  | 37,206 |
Segment earnings (loss) | 51,634 |  |  | 17,134 |  |  | 20,721 |  |  | (13,963 | ) |  | 75,526 |
Valencia non-controlling interest | (10,764 | ) |  | — |  |  | — |  |  | — |  |  | (10,764 | )
Subsidiary preferred stock dividends | (396 | ) |  | — |  |  | — |  |  | — |  |  | (396 | )
Segment earnings (loss) attributable to PNMR | $ | 40,474 |  |  | $ | 17,134 |  |  | $ | 20,721 |  |  | $ | (13,963 | ) |  | $ | 64,366 |
At September 30, 2011: |  |  |  |  |  |  |  |  |
Total Assets | $ | 3,936,468 |  |  | $ | 1,041,613 |  |  | $ | 274,741 |  |  | $ | 119,818 |  |  | $ | 5,372,640 |
Goodwill | $ | 51,632 |  |  | $ | 226,665 |  |  | $ | 43,013 |  |  | $ | — |  |  | $ | 321,310 |
Additions to utility and non-utility plant included in accounts payable | $ | 6,811 |  |  | $ | 4,672 |  |  | $ | 106 |  |  | $ | 253 |  |  | $ | 11,842 |

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- 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 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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 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 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: 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 15: 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 + Details
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