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Earnings Per Share
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

In accordance with GAAP, dual presentation of basic and diluted earnings per share is presented in the Condensed Consolidated Statements of Earnings of PNMR. Information regarding the computation of earnings per share is as follows:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2014
 
2013
 
2014
 
2013
 
(In thousands, except per share amounts)
Net Earnings Attributable to PNMR
$
55,653

 
$
54,555

 
$
97,262

 
$
92,859

Average Number of Common Shares:
 
 
 
 
 
 
 
Outstanding during period
79,654

 
79,654

 
79,654

 
79,654

    Vested awards of restricted stock
112

 
177

 
134

 
194

Average Shares – Basic
79,766

 
79,831

 
79,788

 
79,848

Dilutive Effect of Common Stock Equivalents (1):
 
 
 
 
 
 
 
Stock options and restricted stock
457

 
503

 
491

 
608

Average Shares – Diluted
80,223

 
80,334

 
80,279

 
80,456

Net Earnings Per Share of Common Stock:
 
 
 
 
 
 
 
Basic
$
0.70

 
$
0.68

 
$
1.22

 
$
1.16

Diluted
$
0.69

 
$
0.68

 
$
1.21

 
$
1.15


(1) 
Excludes the effect of out-of-the-money options for 435,472 shares of common stock at September 30, 2014.