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Segment Information
 9 Months Ended
Sep. 30, 2013
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
PNM includes the retail electric utility operations of PNM that are subject to traditional rate regulation by the NMPRC. PNM provides integrated electricity services that include the generation, transmission, and distribution of electricity for retail electric customers in New Mexico. PNM also provides generation service to firm-requirements wholesale customers and sells electricity into the general wholesale market, as well as providing transmission services to third parties. The sale of electricity into the wholesale market includes the optimization of PNM's jurisdictional capacity, as well as the capacity excluded from retail rates. FERC has jurisdiction over wholesale and transmission rates.

TNMP
TNMP 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.

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
 
TNMP
 
Corporate
and Other
 
Consolidated
Three Months Ended September 30, 2013
(In thousands)
Electric operating revenues
$
326,026

 
$
73,704

 
$
—

 
$
399,730

Cost of energy
100,200

 
14,474

 
—

 
114,674

Margin
225,826

 
59,230

 
—

 
285,056

Other operating expenses
104,730

 
23,126

 
(3,282
)
 
124,574

Depreciation and amortization
25,879

 
13,850

 
3,014

 
42,743

Operating income
95,217

 
22,254

 
268

 
117,739

Interest income
2,298

 
—

 
(34
)
 
2,264

Other income (deductions)
2,211

 
716

 
(3,455
)
 
(528
)
Net interest charges
(20,124
)
 
(6,655
)
 
(3,586
)
 
(30,365
)
Segment earnings (loss) before income taxes
79,602

 
16,315

 
(6,807
)
 
89,110

Income taxes (benefit)
27,652

 
6,209

 
(3,565
)
 
30,296

Segment earnings (loss)
51,950

 
10,106

 
(3,242
)
 
58,814

Valencia non-controlling interest
(4,127
)
 
—

 
—

 
(4,127
)
Subsidiary preferred stock dividends
(132
)
 
—

 
—

 
(132
)
Segment earnings (loss) attributable to PNMR
$
47,691

 
$
10,106

 
$
(3,242
)
 
$
54,555

 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2013
 
 
 
 
 
 
 
Electric operating revenues
$
863,609

 
$
201,384

 
$
—

 
$
1,064,993

Cost of energy
283,715

 
41,324

 
—

 
325,039

Margin
579,894

 
160,060

 
—

 
739,954

Other operating expenses
311,372

 
67,274

 
(10,192
)
 
368,454

Depreciation and amortization
77,763

 
37,810

 
9,616

 
125,189

Operating income
190,759

 
54,976

 
576

 
246,311

Interest income
7,839

 
—

 
(108
)
 
7,731

Other income (deductions)
6,977

 
1,409

 
(7,390
)
 
996

Net interest charges
(59,971
)
 
(20,661
)
 
(11,647
)
 
(92,279
)
Segment earnings (loss) before income taxes
145,604

 
35,724

 
(18,569
)
 
162,759

Income taxes (benefit)
49,184

 
13,554

 
(4,138
)
 
58,600

Segment earnings (loss)
96,420

 
22,170

 
(14,431
)
 
104,159

Valencia non-controlling interest
(10,904
)
 
—

 
—

 
(10,904
)
Subsidiary preferred stock dividends
(396
)
 
—

 
—

 
(396
)
Segment earnings (loss) attributable to PNMR
$
85,120

 
$
22,170

 
$
(14,431
)
 
$
92,859

 
 
 
 
 
 
 
 
At September 30, 2013:
 
 
 
 
 
 
 
Total Assets
$
4,192,470

 
$
1,162,587

 
$
73,757

 
$
5,428,814

Goodwill
$
51,632

 
$
226,665

 
$
—

 
$
278,297

Additions to utility and non-utility plant included in accounts payable
$
15,995

 
$
544

 
$
1,668

 
$
18,207

 
PNM
 
TNMP
 
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