XML 83 R50.htm IDEA: XBRL DOCUMENT v3.25.0.1

Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Financial Information by Segment

The following tables present summarized financial information for TXNM by segment. PNM and TNMP each operate in only one segment. Therefore, tabular segment information is not presented for PNM and TNMP.

2024			PNM						TNMP						Corporate and Other						TXNM Consolidated
			(In thousands)
Electric operating revenues			$	1,379,088					$	592,111					$	—					$	1,971,199
Cost of energy
Fuel burn			130,380						—						—						130,380
Purchases for resale			286,399						—						—						286,399
Transmission by others			18,139						149,066						—						167,205
Significant segment expenses
Administrative and general - direct			63,105						(1,452)						151,089						212,742
Administrative and general - corporate allocation			132,209						53,166						(185,375)						—
Customer related expenses			31,246						2,997						131						34,374
Energy production costs			93,748						—						—						93,748
Regulatory disallowances			8,980						—						—						8,980
Depreciation and amortization			221,780						125,915						37,230						384,925
Transmission and distribution costs			61,302						37,078						—						98,380
Taxes other than income taxes			49,807						44,441						6,332						100,580
Total operating expenses			1,097,095						411,211						9,407						1,517,713
Net other income and (deductions)			61,494						8,725						(15,399)						54,820
Interest charges			(106,018)						(58,983)						(63,065)						(228,066)
Income taxes (benefit)			29,217						27,114						(34,813)						21,518
Valencia non-controlling interest			(16,040)						—						—						(16,040)
Subsidiary preferred stock dividends			(528)						—						—						(528)
Segment earnings (loss) attributable to TXNM			$	191,684					$	103,528					$	(53,058)					$	242,154
At December 31, 2024:
Total Assets			$	7,407,279					$	3,649,125					$	155,329					$	11,211,733
Goodwill			$	51,632					$	226,665					$	—					$	278,297

2023			PNM						TNMP						Corporate and Other						TXNM Consolidated
			(In thousands)
Electric operating revenues			$	1,403,948					$	535,250					$	—					$	1,939,198
Cost of energy
Fuel burn			138,538						—						—						138,538
Purchases for resale			499,921						—						—						499,921
Transmission by others			25,155						138,647						—						163,802
Significant segment expenses
Administrative and general - direct			52,554						2,710						139,010						194,274
Administrative and general - corporate allocation			124,321						47,470						(171,791)						—
Customer related expenses			29,775						3,783						68						33,626
Energy production costs			91,610						—						—						91,610
Regulatory disallowances			70,750						1,173						—						71,923
Depreciation and amortization			177,633						113,142						28,728						319,503
Transmission and distribution costs			61,725						36,996						—						98,721
Taxes other than income taxes			48,790						41,311						5,839						95,940
Total operating expenses			1,320,772						385,232						1,854						1,707,858
Net other income and (deductions)			41,358						8,368						(182)						49,544
Interest charges			(86,574)						(46,152)						(57,629)						(190,355)
Income taxes (benefit)			(16,758)						17,297						(16,889)						(16,350)
Valencia non-controlling interest			(18,533)						—						—						(18,533)
Subsidiary preferred stock dividends			(528)						—						—						(528)
Segment earnings (loss) attributable to TXNM			$	35,657					$	94,937					$	(42,776)					$	87,818
At December 31, 2023:
Total Assets			$	6,813,065					$	3,145,031					$	294,509					$	10,252,605
Goodwill			$	51,632					$	226,665					$	—					$	278,297

2022			PNM						TNMP						Corporate and Other						TXNM Consolidated
			(In thousands)
Electric operating revenues			$	1,766,825					$	482,730					$	—					$	2,249,555
Cost of energy
Fuel burn			299,411						—						—						299,411
Purchases for resale			541,828						—						—						541,828
Trading mark-to-market			(456)						—						—						(456)
Transmission by others			23,230						123,928						—						147,158
Significant segment expenses
Administrative and general - direct			62,505						3,607						130,336						196,448
Administrative and general - corporate allocation			115,416						42,293						(157,709)						—
Customer related expenses			26,925						3,692						84						30,701
Energy production costs			147,347						—						—						147,347
Regulatory disallowances			832						—						—						832
Depreciation and amortization			180,812						98,316						25,725						304,853
Transmission and distribution costs			58,278						36,406						—						94,684
Taxes other than income taxes			49,210						38,521						5,258						92,989
Total operating expenses			1,505,338						346,763						3,694						1,855,795
Net other income and (deductions)			(62,196)						8,653						(999)						(54,542)
Interest charges			(61,073)						(37,192)						(29,643)						(127,908)
Income taxes (benefit)			19,198						15,161						(8,229)						26,130
Valencia non-controlling interest			(15,122)						—						—						(15,122)
Subsidiary preferred stock dividends			(528)						—						—						(528)
Segment earnings (loss) attributable to TXNM			$	103,370					$	92,267					$	(26,107)					$	169,530
At December 31, 2022:
Total Assets			$	6,272,166					$	2,746,601					$	238,610					$	9,257,377
Goodwill			$	51,632					$	226,665					$	—					$	278,297

Schedule of Concentration Risk of Major Customers

Two REPs during the years ended December 31, 2024, 2023, and 2022 accounted for more than 10% of the electric operating revenues of TNMP as follows:

			Year Ended December 31,
			2024						2023						2022
REP A			26		%				25		%				27		%
REP B			20						19						20

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
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-21

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-20

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 18
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-18

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-20

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-16

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-21

+ Details

Name:	us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration