XML 24 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Earnings - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Electric Operating Revenues:    
Contracts with customers $ 303,351 $ 297,191
Revenues 317,878 330,178
Operating Expenses:    
Cost of energy 92,556 102,804
Administrative and general 48,283 45,394
Energy production costs 35,350 31,787
Depreciation and amortization 58,722 56,383
Transmission and distribution costs 16,955 16,477
Taxes other than income taxes 19,880 19,235
Total operating expenses 271,746 272,080
Operating income 46,132 58,098
Other Income and Deductions:    
Interest income 4,124 4,881
Gains on investment securities 288 6,661
Other income 3,469 4,902
Other (deductions) (1,376) (5,621)
Net other income and deductions 6,505 10,823
Interest Charges 33,055 31,700
Earnings before Income Taxes 19,582 37,221
Income Taxes 783 10,775
Net Earnings 18,799 26,446
(Earnings) Attributable to Valencia Non-controlling Interest (3,677) (3,452)
Preferred Stock Dividend Requirements of Subsidiary (132) (132)
Net Earnings Attributable to PNMR 14,990 22,862
Net Earnings Available for PNM Common Stock $ 14,990 $ 22,862
Net Earnings Attributable to PNMR per Common Share:    
Basic (dollars per share) $ 0.19 $ 0.29
Diluted (dollars per share) 0.19 0.29
Dividends Declared per Common Share (dollars per share) $ 0.265 $ 0.2425
Alternative revenue programs    
Electric Operating Revenues:    
Revenues $ 924 $ 4,579
Other electric operating revenue    
Electric Operating Revenues:    
Revenues 13,603 28,408
PNM    
Electric Operating Revenues:    
Contracts with customers 222,564 222,063
Revenues 236,232 251,558
Operating Expenses:    
Cost of energy 70,802 81,317
Administrative and general 43,726 40,909
Energy production costs 35,350 31,787
Depreciation and amortization 36,627 36,016
Transmission and distribution costs 9,827 9,919
Taxes other than income taxes 11,608 11,141
Total operating expenses 207,940 211,089
Operating income 28,292 40,469
Other Income and Deductions:    
Interest income 2,487 2,816
Gains on investment securities 288 6,661
Other income 2,391 3,843
Other (deductions) (1,462) (4,959)
Net other income and deductions 3,704 8,361
Interest Charges 20,830 21,012
Earnings before Income Taxes 11,166 27,818
Income Taxes (348) 7,708
Net Earnings 11,514 20,110
(Earnings) Attributable to Valencia Non-controlling Interest (3,677) (3,452)
Preferred Stock Dividend Requirements of Subsidiary (132) (132)
Net Earnings Attributable to PNMR 7,837 16,658
Net Earnings Available for PNM Common Stock 7,705 16,526
PNM | Alternative revenue programs    
Electric Operating Revenues:    
Revenues 65 1,087
PNM | Other electric operating revenue    
Electric Operating Revenues:    
Revenues 13,603 28,408
Texas-New Mexico Power Company    
Electric Operating Revenues:    
Contracts with customers 80,787 75,128
Revenues 81,646 78,620
Operating Expenses:    
Cost of energy 21,754 21,487
Administrative and general 10,709 10,403
Depreciation and amortization 16,387 15,371
Transmission and distribution costs 7,128 6,558
Taxes other than income taxes 7,136 6,836
Total operating expenses 63,114 60,655
Operating income 18,532 17,965
Other Income and Deductions:    
Other income 754 822
Other (deductions) 331 (90)
Net other income and deductions 1,085 732
Interest Charges 7,729 7,404
Earnings before Income Taxes 11,888 11,293
Income Taxes 2,475 3,689
Net Earnings Attributable to PNMR 9,413 7,604
Texas-New Mexico Power Company | Alternative revenue programs    
Electric Operating Revenues:    
Revenues 859 $ 3,492
Texas-New Mexico Power Company | Other electric operating revenue    
Electric Operating Revenues:    
Revenues $ 0