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Earnings Per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Basic earnings per share is computed by dividing net earnings attributable to TXNM by the weighted average number of common shares outstanding during the period. Diluted earnings per share was computed by dividing net earnings attributable to TXNM by the diluted weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other agreements to issue common stock were settled. TXNM applies the treasury stock method for restricted stock, the 2023 Forward Sale Agreements, and the 2024 Forward Sale Agreements. The if-converted method is applied in determining the potential dilutive effect of the conversion of outstanding Convertible Notes. For the three and nine months ended September 30, 2024, the Convertible Notes were excluded from the calculation of diluted EPS because the effects were antidilutive. Information regarding the computation of earnings per share is as follows:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (In thousands, except per share amounts)
Net Earnings Attributable to TXNM | $ | 131,202 |  |  | $ | 37,726 |  |  | $ | 226,441 |  |  | $ | 138,045 |
Average Number of Common Shares: |  |  |  |  |  |  |
Outstanding during period | 90,200 |  |  | 85,835 |  |  | 90,200 |  |  | 85,835 |
Vested awards of restricted stock | 330 |  |  | 254 |  |  | 306 |  |  | 257 |
Average Shares – Basic | 90,530 |  |  | 86,089 |  |  | 90,506 |  |  | 86,092 |
Dilutive Effect of Common Stock Equivalents: |  |  |  |  |  |  |
Restricted stock | 53 |  |  | 32 |  |  | 44 |  |  | 36 |
2023 Forward Sale Agreements | — |  |  | 8 |  |  | — |  |  | 23 |
2024 Forward Sale Agreements | 22 |  |  | — |  |  | 2 |  |  | — |
Average Shares – Diluted | 90,605 |  |  | 86,129 |  |  | 90,552 |  |  | 86,151 |
Net Earnings Per Share of Common Stock: |  |  |  |  |  |  |
Basic | $ | 1.45 |  |  | $ | 0.44 |  |  | $ | 2.50 |  |  | $ | 1.60 |
Diluted | $ | 1.45 |  |  | $ | 0.44 |  |  | $ | 2.50 |  |  | $ | 1.60 |

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