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Segment Information
 3 Months Ended
Mar. 31, 2015
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 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 from PVNGS Unit 3, which currently is not included in 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
 
(In thousands)
Three Months Ended March 31, 2015
 
Electric operating revenues
$
261,940

 
$
70,928

 
$
—

 
$
332,868

Cost of energy
97,866

 
17,779

 
—

 
115,645

Margin
164,074

 
53,149

 
—

 
217,223

Other operating expenses
104,016

 
21,760

 
(3,583
)
 
122,193

Depreciation and amortization
28,403

 
13,458

 
3,600

 
45,461

Operating income (loss)
31,655

 
17,931

 
(17
)
 
49,569

Interest income
1,771

 
—

 
(21
)
 
1,750

Other income (deductions)
5,810

 
1,291

 
(1,778
)
 
5,323

Net interest charges
(19,959
)
 
(6,925
)
 
(3,389
)
 
(30,273
)
Segment earnings (loss) before income taxes
19,277

 
12,297

 
(5,205
)
 
26,369

Income taxes (benefit)
5,775

 
4,603

 
(1,861
)
 
8,517

Segment earnings (loss)
13,502

 
7,694

 
(3,344
)
 
17,852

Valencia non-controlling interest
(3,380
)
 
—

 
—

 
(3,380
)
Subsidiary preferred stock dividends
(132
)
 
—

 
—

 
(132
)
Segment earnings (loss) attributable to PNMR
$
9,990

 
$
7,694

 
$
(3,344
)
 
$
14,340

 
 
 
 
 
 
 
 
At March 31, 2015:
 
 
 
 
 
 
 
Total Assets
$
4,464,487

 
$
1,243,410

 
$
231,442

 
$
5,939,339

Goodwill
$
51,632

 
$
226,665

 
$
—

 
$
278,297

 
PNM
 
TNMP
 
Corporate
and Other
 
Consolidated
 
(In thousands)
Three Months Ended March 31, 2014
 
 
 
 
 
 
 
Electric operating revenues
$
262,736

 
$
66,161

 
$
—

 
$
328,897

Cost of energy
96,626

 
15,988

 
—

 
112,614

Margin
166,110

 
50,173

 
—

 
216,283

Other operating expenses
107,724

 
21,069

 
(3,228
)
 
125,565

Depreciation and amortization
27,082

 
11,842

 
3,041

 
41,965

Operating income
31,304

 
17,262

 
187

 
48,753

Interest income
2,128

 
—

 
(11
)
 
2,117

Other income (deductions)
1,668

 
189

 
(641
)
 
1,216

Net interest charges
(19,812
)
 
(6,598
)
 
(3,125
)
 
(29,535
)
Segment earnings (loss) before income taxes
15,288

 
10,853

 
(3,590
)
 
22,551

Income taxes (benefit)
4,083

 
4,050

 
(1,713
)
 
6,420

Segment earnings (loss)
11,205

 
6,803

 
(1,877
)
 
16,131

Valencia non-controlling interest
(3,531
)
 
—

 
—

 
(3,531
)
Subsidiary preferred stock dividends
(132
)
 
—

 
—

 
(132
)
Segment earnings (loss) attributable to PNMR
$
7,542

 
$
6,803

 
$
(1,877
)
 
$
12,468

 
 
 
 
 
 
 
 
At March 31, 2014:
 
 
 
 
 
 
 
Total Assets
$
4,219,635

 
$
1,173,028

 
$
114,363

 
$
5,507,026

Goodwill
$
51,632

 
$
226,665

 
$
—

 
$
278,297