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v3.19.3.a.u2

Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2019
Segment Reporting [Abstract] |
Summary of Segments | 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.
2019 | PNM |  | TNMP |  | Corporate and Other |  | PNMR Consolidated
| (In thousands)
Electric operating revenues | $ | 1,093,822 |  |  | $ | 363,781 |  |  | $ | — |  |  | $ | 1,457,603 |
Cost of energy | 317,725 |  |  | 95,087 |  |  | — |  |  | 412,812 |
Utility margin | 776,097 |  |  | 268,694 |  |  | — |  |  | 1,044,791 |
Other operating expenses | 554,661 |  |  | 98,621 |  |  | (20,499 | ) |  | 632,783 |
Depreciation and amortization | 160,368 |  |  | 84,259 |  |  | 23,181 |  |  | 267,808 |
Operating income (loss) | 61,068 |  |  | 85,814 |  |  | (2,682 | ) |  | 144,200 |
Interest income | 14,303 |  |  | — |  |  | (281 | ) |  | 14,022 |
Other income (deductions) | 26,989 |  |  | 4,131 |  |  | (1,477 | ) |  | 29,643 |
Interest charges | (72,900 | ) |  | (29,100 | ) |  | (19,016 | ) |  | (121,016 | )
Segment earnings (loss) before income taxes | 29,460 |  |  | 60,845 |  |  | (23,456 | ) |  | 66,849 |
Income taxes (benefit) | (25,962 | ) |  | 5,046 |  |  | (4,366 | ) |  | (25,282 | )
Segment earnings (loss) | 55,422 |  |  | 55,799 |  |  | (19,090 | ) |  | 92,131 |
Valencia non-controlling interest | (14,241 | ) |  | — |  |  | — |  |  | (14,241 | )
Subsidiary preferred stock dividends | (528 | ) |  | — |  |  | — |  |  | (528 | )
Segment earnings (loss) attributable to PNMR | $ | 40,653 |  |  | $ | 55,799 |  |  | $ | (19,090 | ) |  | $ | 77,362 |
At December 31, 2019: |  |  |  |  |  |  |
Total Assets | $ | 5,242,991 |  |  | $ | 1,860,439 |  |  | $ | 195,344 |  |  | $ | 7,298,774 |
Goodwill | $ | 51,632 |  |  | $ | 226,665 |  |  | $ | — |  |  | $ | 278,297 |
2018 | PNM |  | TNMP |  | Corporate and Other |  | PNMR Consolidated
| (In thousands)
Electric operating revenues | $ | 1,091,965 |  |  | $ | 344,648 |  |  | $ | — |  |  | $ | 1,436,613 |
Cost of energy | 314,036 |  |  | 85,690 |  |  | — |  |  | 399,726 |
Utility margin | 777,929 |  |  | 258,958 |  |  | — |  |  | 1,036,887 |
Other operating expenses | 481,030 |  |  | 96,272 |  |  | (17,650 | ) |  | 559,652 |
Depreciation and amortization | 151,866 |  |  | 66,189 |  |  | 23,133 |  |  | 241,188 |
Operating income | 145,033 |  |  | 96,497 |  |  | (5,483 | ) |  | 236,047 |
Interest income | 13,089 |  |  | — |  |  | 2,451 |  |  | 15,540 |
Other income (deductions) | (17,312 | ) |  | 4,065 |  |  | (2,039 | ) |  | (15,286 | )
Interest charges | (76,458 | ) |  | (32,091 | ) |  | (18,695 | ) |  | (127,244 | )
Segment earnings (loss) before income taxes | 64,352 |  |  | 68,471 |  |  | (23,766 | ) |  | 109,057 |
Income taxes | (5,971 | ) |  | 16,880 |  |  | (3,134 | ) |  | 7,775 |
Segment earnings (loss) | 70,323 |  |  | 51,591 |  |  | (20,632 | ) |  | 101,282 |
Valencia non-controlling interest | (15,112 | ) |  | — |  |  | — |  |  | (15,112 | )
Subsidiary preferred stock dividends | (528 | ) |  | — |  |  | — |  |  | (528 | )
Segment earnings (loss) attributable to PNMR | $ | 54,683 |  |  | $ | 51,591 |  |  | $ | (20,632 | ) |  | $ | 85,642 |
At December 31, 2018: |  |  |  |  |  |  |
Total Assets | $ | 5,035,883 |  |  | $ | 1,665,177 |  |  | $ | 164,491 |  |  | $ | 6,865,551 |
Goodwill | $ | 51,632 |  |  | $ | 226,665 |  |  | $ | — |  |  | $ | 278,297 |
2017 | PNM |  | TNMP |  | Corporate and Other |  | PNMR Consolidated
| (In thousands)
Electric operating revenues | $ | 1,104,230 |  |  | $ | 340,773 |  |  | $ | — |  |  | $ | 1,445,003 |
Cost of energy | 321,677 |  |  | 85,802 |  |  | — |  |  | 407,479 |
Utility margin | 782,553 |  |  | 254,971 |  |  | — |  |  | 1,037,524 |
Other operating expenses | 414,457 |  |  | 98,221 |  |  | (22,135 | ) |  | 490,543 |
Depreciation and amortization | 147,017 |  |  | 63,146 |  |  | 21,779 |  |  | 231,942 |
Operating income (loss) | 221,079 |  |  | 93,604 |  |  | 356 |  |  | 315,039 |
Interest income | 8,454 |  |  | — |  |  | 7,462 |  |  | 15,916 |
Other income (deductions) | 22,132 |  |  | 3,551 |  |  | (3,254 | ) |  | 22,429 |
Interest charges | (82,697 | ) |  | (30,084 | ) |  | (14,844 | ) |  | (127,625 | )
Segment earnings (loss) before income taxes | 168,968 |  |  | 67,071 |  |  | (10,280 | ) |  | 225,759 |
Income taxes (benefit) | 81,555 |  |  | 31,512 |  |  | 17,273 |  |  | 130,340 |
Segment earnings (loss) | 87,413 |  |  | 35,559 |  |  | (27,553 | ) |  | 95,419 |
Valencia non-controlling interest | (15,017 | ) |  | — |  |  | — |  |  | (15,017 | )
Subsidiary preferred stock dividends | (528 | ) |  | — |  |  | — |  |  | (528 | )
Segment earnings (loss) attributable to PNMR | $ | 71,868 |  |  | $ | 35,559 |  |  | $ | (27,553 | ) |  | $ | 79,874 |
At December 31, 2017: |  |  |  |  |  |  |
Total Assets | $ | 4,921,563 |  |  | $ | 1,500,770 |  |  | $ | 223,770 |  |  | $ | 6,646,103 |
Goodwill | $ | 51,632 |  |  | $ | 226,665 |  |  | $ | — |  |  | $ | 278,297 |
Schedule of Major Customers | Three REPs accounted for more than 10% of the electric operating revenues of TNMP, as follows:
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
REP A | 22 | % |  | 21 | % |  | 16 | %
REP B | 17 | % |  | 15 | % |  | 11 | %
REP C | 12 | % |  | 12 | % |  | 10 | %

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