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Electric Operating Revenues | 3 Months Ended
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Mar. 31, 2019
Revenue from Contract with Customer [Abstract] |
Electric Operating Revenues | Electric Operating Revenues PNMR is an investor-owned holding company with two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are PNM and TNMP. Additional information concerning electric operating revenue is contained in Note 4 of the Notes to Consolidated Financial Statements in the 2018 Annual Reports on Form 10-K. Disaggregation of Revenues A disaggregation of revenues from contracts with customers by the type of customer is presented in the table below. The table also reflects alternative revenue program revenues (“ARP”) and other revenues.
|  | PNM |  | TNMP |  | PNMR Consolidated
Three Months Ended March 31, 2019 |  | (In thousands)
Electric Operating Revenues: |  |  |  |  |  |
Contracts with customers: |  |  |  |  |  |
Retail electric revenue |  |  |  |  |  |
Residential |  | $ | 107,302 |  |  | $ | 30,432 |  |  | $ | 137,734 |
Commercial |  | 85,233 |  |  | 27,429 |  |  | 112,662 |
Industrial |  | 14,747 |  |  | 5,616 |  |  | 20,363 |
Public authority |  | 4,711 |  |  | 1,374 |  |  | 6,085 |
Economy energy service |  | 6,922 |  |  | — |  |  | 6,922 |
Transmission |  | 13,385 |  |  | 14,003 |  |  | 27,388 |
Miscellaneous |  | 3,641 |  |  | 903 |  |  | 4,544 |
Total revenues from contracts with customers |  | 235,941 |  |  | 79,757 |  |  | 315,698 |
Alternative revenue programs |  | 66 |  |  | 570 |  |  | 636 |
Other electric operating revenues |  | 33,311 |  |  | — |  |  | 33,311 |
Total Electric Operating Revenues |  | $ | 269,318 |  |  | $ | 80,327 |  |  | $ | 349,645 |
|  | PNM |  | TNMP |  | PNMR Consolidated
Three Months Ended March 31, 2018 |  | (In thousands)
Electric Operating Revenues: |  |  |  |  |  |
Contracts with customers: |  |  |  |  |  |
Retail electric revenue |  |  |  |  |  |
Residential |  | $ | 97,169 |  |  | $ | 29,266 |  |  | $ | 126,435 |
Commercial |  | 82,849 |  |  | 27,152 |  |  | 110,001 |
Industrial |  | 13,459 |  |  | 4,305 |  |  | 17,764 |
Public authority |  | 4,635 |  |  | 1,416 |  |  | 6,051 |
Economy energy service |  | 7,288 |  |  | — |  |  | 7,288 |
Transmission |  | 12,482 |  |  | 16,508 |  |  | 28,990 |
Miscellaneous |  | 4,682 |  |  | 2,140 |  |  | 6,822 |
Total revenues from contracts with customers |  | 222,564 |  |  | 80,787 |  |  | 303,351 |
Alternative revenue programs |  | 65 |  |  | 859 |  |  | 924 |
Other electric operating revenues |  | 13,603 |  |  | — |  |  | 13,603 |
Total Electric Operating Revenues |  | $ | 236,232 |  |  | $ | 81,646 |  |  | $ | 317,878 |
Contract balances Performance obligations related to contracts with customers are typically satisfied when the energy is delivered and the customer or end-user utilizes the energy. Accounts receivable from customers represent amounts billed to the customer or end-user, including amounts under ARP programs. For PNM, accounts receivable reflected on the Condensed Consolidated Balance Sheets, net of allowance for uncollectible accounts, includes $65.2 million at March 31, 2019 and $61.7 million at December 31, 2018 resulting from contracts with customers. All of TNMP’s accounts receivable results from contracts with customers. Contract assets are an entity’s right to consideration in exchange for goods or services that the entity has transferred to a customer when that right is conditioned on something other than the passage of time (for example, the entity’s future performance). The Company has no contract assets as of March 31, 2019 or December 31, 2018. Contract liabilities arise when consideration is received in advance from a customer before satisfying the performance obligations. Therefore, revenue is deferred and not recognized until the obligation is satisfied. Under its Open Access Transmission Tariff, PNM accepts upfront consideration for capacity reservations requested by transmission customers, which requires PNM to defer the customer’s transmission capacity rights for a specific period of time. PNM recognizes the revenue of these capacity reservations over the period the capacity rights have been reserved, which is generally over one year. Other utilities pay PNM and TNMP in advance for the joint-use of their utility poles. These revenues are recognized over the period of time specified in the joint-use contract, typically for one calendar year. Deferred revenues on these arrangements are recorded as contract liabilities. The Company has no other arrangements with remaining performance obligations to which a portion of the transaction price would be required to be allocated. Changes during the period in the balances of contract liabilities, which are included in other current liabilities on the Condensed Consolidated Balance Sheets, are as follows:
|  | PNM |  | TNMP |  | PNMR Consolidated
|  | (In thousands)
Balance at December 31, 2018 |  | $ | 349 |  |  | $ | — |  |  | $ | 349 |
Consideration received in advance of service to be provided |  | 3,981 |  |  | 1,389 |  |  | 5,370 |
Deferred revenue earned |  | (1,349 | ) |  | (371 | ) |  | (1,720 | )
Balance at March 31, 2019 |  | $ | 2,981 |  |  | $ | 1,018 |  |  | $ | 3,999 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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