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Earnings and Dividends Per Share
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Earnings and Dividends Per Share
Earnings and Dividends Per Share
In accordance with GAAP, dual presentation of basic and diluted earnings per share has been presented in the Consolidated Statements of Earnings of PNMR. Information regarding the computation of earnings per share and dividends per share is as follows:
 
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
(In thousands, except per share amounts)
Earnings Attributable to PNMR
$
116,254

 
$
100,507

 
$
105,547

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

 
79,654

 
79,654

Vested awards of restricted stock
134

 
191

 
145

Average Shares – Basic
79,788

 
79,845

 
79,799

Dilutive Effect of Common Stock Equivalents (1):
 
 
 
 
 
Stock options and restricted stock
491

 
586

 
618

Average Shares – Diluted
80,279

 
80,431

 
80,417

Net Earnings Per Share of Common Stock:
 
 
 
 
 
Basic
$
1.46

 
$
1.26

 
$
1.32

Diluted
$
1.45

 
$
1.25

 
$
1.31

Dividends Declared per Common Share
$
0.755

 
$
0.680

 
0.580


(1) 
Excludes out-of-the-money options for 254,050 shares of common stock at December 31, 2014. See Note 13.