Earnings Per Share

9 Months Ended

Sep. 30, 2019

In accordance with GAAP, dual presentation of basic and diluted earnings per share is presented in the Condensed Consolidated Statements of Earnings of PNMR. PNMR’s potentially dilutive shares consist of stock options and restricted stock. See Note 8. Information regarding the computation of earnings per share is as follows:



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
	(In thousands, except per share amounts)
Net Earnings Attributable to PNMR	$	102,771	$	87,521	$	45,557	$	140,719
Average Number of Common Shares:
Outstanding during period	79,654		79,654		79,654		79,654
Vested awards of restricted stock	294		215		265		210
Average Shares – Basic	79,948		79,869		79,919		79,864
Dilutive Effect of Common Stock Equivalents:
Stock options and restricted stock	53		111		61		126
Average Shares – Diluted	80,001		79,980		79,980		79,990
Net Earnings Per Share of Common Stock:
Basic	$	1.29	$	1.10	$	0.57	$	1.76
Diluted	$	1.28	$	1.09	$	0.57	$	1.76