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Earnings Per Share
 12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
In accordance with GAAP, dual presentation of basic and diluted earnings (loss) per share has been presented in the Consolidated Statements of Earnings (Loss) of PNMR. Information regarding the computation of earnings (loss) per share is as follows:
 
 
Year Ended December 31,
 
2012
 
2011
 
2010
 
(In thousands, except per share amounts)
Earnings (Loss) Attributable to PNMR:
 
 
 
 
 
Earnings (loss)
$
120,125

 
$
190,934

 
$
(31,124
)
Earnings attributable to Valencia Non-controlling Interest
(14,050
)
 
(14,047
)
 
(13,563
)
Preferred stock dividend requirements of subsidiary
(528
)
 
(528
)
 
(528
)
Net Earnings (Loss) Attributable to PNMR
$
105,547

 
$
176,359

 
$
(45,215
)
Average Number of Common Shares:
 
 
 
 
 
Outstanding during year
79,654

 
85,558

 
86,673

Equivalents from convertible preferred stock (Note 5)
—

 
3,469

 
4,778

Vested awards of restricted stock
145

 
174

 
106

Average Shares - Basic
79,799

 
89,201

 
91,557

Dilutive Effect of Common Stock Equivalents (1):
 
 
 
 
 
Stock options and restricted stock
618

 
556

 
—

Average Shares – Diluted
80,417

 
89,757

 
91,557

Net Earnings (Loss) Per Share of Common Stock:
 
 
 
 
 
Basic
$
1.32

 
$
1.98

 
$
(0.49
)
Diluted
1.31

 
1.96

 
(0.49
)

(1) 
Excludes out-of-the-money options for 1,214,365 shares of common stock at December 31, 2012. Due to losses in the year ended December 31, 2010, no potentially dilutive securities are reflected in the average number of common shares used to compute earnings (loss) per share since any impact would be anti-dilutive. See Note 13.