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Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Summary of Financial Information by Segment

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						PNMR Consolidated
			(In thousands)
Three Months Ended September 30, 2021
Electric operating revenues			$	435,523					$	119,028											$	—					$	554,551
Cost of energy			170,902						28,478												—						199,380
Utility margin			264,621						90,550												—						355,171
Other operating expenses			107,385						28,677												(4,058)						132,004
Depreciation and amortization			42,673						23,031												5,734						71,438
Operating income (loss)			114,563						38,842												(1,676)						151,729
Interest income (loss)			3,364						—												(35)						3,329
Other income			1,358						1,144												34						2,536
Interest charges			(12,509)						(8,403)												(2,332)						(23,244)
Segment earnings (loss) before income taxes			106,776						31,583												(4,009)						134,350
Income taxes (benefit)			15,500						3,642												(2,474)						16,668
Segment earnings (loss)			91,276						27,941												(1,535)						117,682
Valencia non-controlling interest			(4,229)						—												—						(4,229)
Subsidiary preferred stock dividends			(132)						—												—						(132)
Segment earnings (loss) attributable to PNMR			$	86,915					$	27,941											$	(1,535)					$	113,321
Nine Months Ended September 30, 2021
Electric operating revenues			$	1,030,685					$	315,113											$	—					$	1,345,798
Cost of energy			383,556						83,896												—						467,452
Utility margin			647,129						231,217												—						878,346
Other operating expenses			320,638						82,950												(6,379)						397,209
Depreciation and amortization			127,111						67,696												17,232						212,039
Operating income (loss)			199,380						80,571												(10,853)						269,098
Interest income			10,376						—												90						10,466
Other income (deductions)			13,705						3,251												(92)						16,864
Interest charges			(38,441)						(25,155)												(9,651)						(73,247)
Segment earnings (loss) before income taxes			185,020						58,667												(20,506)						223,181
Income taxes (benefit)			26,178						6,341												(5,986)						26,533
Segment earnings (loss)			158,842						52,326												(14,520)						196,648
Valencia non-controlling interest			(11,643)						—												—						(11,643)
Subsidiary preferred stock dividends			(396)						—												—						(396)
Segment earnings (loss) attributable to PNMR			$	146,803					$	52,326											$	(14,520)					$	184,609
At September 30, 2021:
Total Assets			$	5,723,176					$	2,311,559											$	221,335					$	8,256,070
Goodwill			$	51,632					$	226,665											$	—					$	278,297

			PNM						TNMP												Corporate and Other						PNMR Consolidated
			(In thousands)
Three Months Ended September 30, 2020
Electric operating revenues			$	364,504					$	107,961											$	—					$	472,465
Cost of energy			108,284						25,707												—						133,991
Utility margin			256,220						82,254												—						338,474
Other operating expenses			99,171						27,983												(4,885)						122,269
Depreciation and amortization			40,509						22,492												5,399						68,400
Operating income (loss)			116,540						31,779												(514)						147,805
Interest income			3,239						—												(59)						3,180
Other income			11,563						2,286												213						14,062
Interest charges			(14,747)						(7,942)												(4,574)						(27,263)
Segment earnings (loss) before income taxes			116,595						26,123												(4,934)						137,784
Income taxes (benefit)			13,591						2,202												(3,462)						12,331
Segment earnings (loss)			103,004						23,921												(1,472)						125,453
Valencia non-controlling interest			(3,553)						—												—						(3,553)
Subsidiary preferred stock dividends			(132)						—												—						(132)
Segment earnings (loss) attributable to PNMR			$	99,319					$	23,921											$	(1,472)					$	121,768
Nine Months Ended September 30, 2020
Electric operating revenues			$	873,425					$	290,311											$	—					$	1,163,736
Cost of energy			250,692						75,872												—						326,564
Utility margin			622,733						214,439												—						837,172
Other operating expenses			299,284						78,444												(14,644)						363,084
Depreciation and amortization			123,721						66,696												16,978						207,395
Operating income (loss)			199,728						69,299												(2,334)						266,693
Interest income			9,882						—												(208)						9,674
Other income (deductions)			(1,509)						4,810												(542)						2,759
Interest charges			(51,554)						(22,475)												(14,756)						(88,785)
Segment earnings (loss) before income taxes			156,547						51,634												(17,840)						190,341
Income taxes (benefit)			16,127						4,447												(5,848)						14,726
Segment earnings (loss)			140,420						47,187												(11,992)						175,615
Valencia non-controlling interest			(11,222)						—												—						(11,222)
Subsidiary preferred stock dividends			(396)						—												—						(396)
Segment earnings (loss) attributable to PNMR			$	128,802					$	47,187											$	(11,992)					$	163,997
At September 30, 2020:
Total Assets			$	5,449,238					$	2,075,291											$	217,583					$	7,742,112
Goodwill			$	51,632					$	226,665											$	—					$	278,297

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

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