XML 43 R10.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Earnings - PNM - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Electric Operating Revenues $ 1,971,199 $ 1,939,198 $ 2,249,555
Operating Expenses:      
Administrative and general 247,116 227,900 227,149
Regulatory disallowances 8,980 71,923 832
Depreciation and amortization 384,925 319,503 304,853
Transmission and distribution costs 98,380 98,721 94,684
Taxes other than income taxes 100,580 95,940 92,989
Total operating expenses 1,517,713 1,707,858 1,855,795
Operating income 453,486 231,340 393,760
Other Income and Deductions:      
Interest income 23,537 21,963 16,095
Gains (losses) on investment securities 26,851 19,246 (78,357)
Other income 28,621 24,204 21,601
Other (deductions) (24,189) (15,869) (13,881)
Net other income and (deductions) 54,820 49,544 (54,542)
Interest Charges 228,066 190,355 127,908
Earnings before Income Taxes 280,240 90,529 211,310
Income Taxes (Benefits) 21,518 (16,350) 26,130
Net Earnings 258,722 106,879 185,180
(Earnings) Attributable to Valencia Non-controlling Interest (16,040) (18,533) (15,122)
Net earnings attributable to TXNM, basic 242,154 87,818 169,530
PNM      
Electric Operating Revenues 1,379,088 1,403,948 1,766,825
Operating Expenses:      
Administrative and general 226,560 206,650 204,846
Regulatory disallowances 8,980 70,750 832
Depreciation and amortization 221,780 177,633 180,812
Transmission and distribution costs 61,302 61,725 58,278
Taxes other than income taxes 49,807 48,790 49,210
Total operating expenses 1,097,095 1,320,772 1,505,338
Operating income 281,993 83,176 261,487
Other Income and Deductions:      
Interest income 23,454 21,355 14,816
Gains (losses) on investment securities 26,851 19,246 (78,357)
Other income 15,329 11,638 10,763
Other (deductions) (4,140) (10,881) (9,418)
Net other income and (deductions) 61,494 41,358 (62,196)
Interest Charges 106,018 86,574 61,073
Earnings before Income Taxes 237,469 37,960 138,218
Income Taxes (Benefits) 29,217 (16,758) 19,198
Net Earnings 208,252 54,718 119,020
(Earnings) Attributable to Valencia Non-controlling Interest (16,040) (18,533) (15,122)
Net earnings 192,212 36,185 103,898
Preferred Stock Dividends Requirements (528) (528) (528)
Net earnings attributable to TXNM, basic 191,684 35,657 103,370
Electricity      
Electric Operating Revenues 1,971,199 1,939,198 2,249,555
Operating Expenses:      
Cost of energy and production costs 583,984 802,261 987,941
Electricity | PNM      
Operating Expenses:      
Cost of energy and production costs 434,918 663,614 864,013
Energy production costs      
Operating Expenses:      
Cost of energy and production costs 93,748 91,610 147,347
Energy production costs | PNM      
Operating Expenses:      
Cost of energy and production costs $ 93,748 $ 91,610 $ 147,347