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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Summary 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. TXNM SEGMENT INFORMATION
| PNM |  | TNMP |  |  |  | Corporate and Other |  | TXNM
| (In thousands)
Three Months Ended March 31, 2025 |  |  |  |  |  |  |  |  |
Electric operating revenues | $ | 333,380 |  |  | $ | 149,412 |  |  |  |  | $ | — |  |  | $ | 482,792 |
Cost of energy |  |  |  |  |  |  |  |  |
Fuel burn | 26,541 |  |  | — |  |  |  |  | — |  |  | 26,541 |
Purchases for resale | 97,235 |  |  | — |  |  |  |  | — |  |  | 97,235 |
Transmission by others | 7,178 |  |  | 38,228 |  |  |  |  | — |  |  | 45,406 |
Significant segment expenses |  |  |  |  |  |  |  |  |
Administrative and general - direct | 17,866 |  |  | (2,052) |  |  |  |  | 36,570 |  |  | 52,384 |
Administrative and general - corporate allocation | 32,087 |  |  | 13,376 |  |  |  |  | (45,463) |  |  | — |
Customer related expenses | 7,657 |  |  | 717 |  |  |  |  | 11 |  |  | 8,385 |
Energy production costs | 24,546 |  |  | — |  |  |  |  | — |  |  | 24,546 |
Depreciation and amortization | 59,803 |  |  | 35,213 |  |  |  |  | 9,535 |  |  | 104,551 |
Transmission and distribution costs | 15,826 |  |  | 9,679 |  |  |  |  | — |  |  | 25,505 |
Taxes other than income taxes | 13,303 |  |  | 11,504 |  |  |  |  | 1,543 |  |  | 26,350 |
Total operating expenses | 302,042 |  |  | 106,665 |  |  |  |  | 2,196 |  |  | 410,903 |
Net other income and (deductions) | 3,260 |  |  | 2,406 |  |  |  |  | (189) |  |  | 5,477 |
Interest charges | (29,816) |  |  | (17,322) |  |  |  |  | (16,413) |  |  | (63,551) |
Income taxes (benefit) | (37) |  |  | 5,548 |  |  |  |  | (4,493) |  |  | 1,018 |
Valencia non-controlling interest | (3,742) |  |  | — |  |  |  |  | — |  |  | (3,742) |
Subsidiary preferred stock dividends | (132) |  |  | — |  |  |  |  | — |  |  | (132) |
Segment earnings (loss) attributable to TXNM | $ | 945 |  |  | $ | 22,283 |  |  |  |  | $ | (14,305) |  |  | $ | 8,923 |
At March 31, 2025: |  |  |  |  |  |  |  |  |
Total Assets | $ | 7,471,816 |  |  | $ | 3,760,714 |  |  |  |  | $ | 158,090 |  |  | $ | 11,390,620 |
Goodwill | $ | 51,632 |  |  | $ | 226,665 |  |  |  |  | $ | — |  |  | $ | 278,297 |
| PNM |  | TNMP |  |  |  | Corporate and Other |  | TXNM
| (In thousands)
Three Months Ended March 31, 2024 |  |  |  |  |  |  |  |  |
Electric operating revenues | $ | 308,115 |  |  | $ | 128,762 |  |  |  |  | $ | — |  |  | $ | 436,877 |
Cost of energy |  |  |  |  |  |  |  |  |
Fuel burn | 36,682 |  |  | — |  |  |  |  | — |  |  | 36,682 |
Purchases for resale | 54,468 |  |  | — |  |  |  |  | — |  |  | 54,468 |
Transmission by others | 6,262 |  |  | 34,892 |  |  |  |  | — |  |  | 41,154 |
Significant segment expenses |  |  |  |  |  |  |  |  |
Administrative and general - direct | 9,039 |  |  | (1,284) |  |  |  |  | 39,640 |  |  | 47,395 |
Administrative and general - corporate allocation | 35,407 |  |  | 14,236 |  |  |  |  | (49,643) |  |  | — |
Customer related expenses | 7,290 |  |  | 717 |  |  |  |  | 25 |  |  | 8,032 |
Energy production costs | 22,212 |  |  | — |  |  |  |  | — |  |  | 22,212 |
Regulatory disallowances | 4,459 |  |  | — |  |  |  |  | — |  |  | 4,459 |
Depreciation and amortization | 53,287 |  |  | 30,382 |  |  |  |  | 9,518 |  |  | 93,187 |
Transmission and distribution costs | 14,350 |  |  | 8,414 |  |  |  |  | — |  |  | 22,764 |
Taxes other than income taxes | 13,709 |  |  | 10,667 |  |  |  |  | 1,558 |  |  | 25,934 |
Total operating expenses | 257,165 |  |  | 98,024 |  |  |  |  | 1,098 |  |  | 356,287 |
Net other income and (deductions) | 25,073 |  |  | 1,045 |  |  |  |  | (15,151) |  |  | 10,967 |
Interest charges | (25,116) |  |  | (13,336) |  |  |  |  | (15,310) |  |  | (53,762) |
Income taxes (benefit) | 5,811 |  |  | 3,864 |  |  |  |  | (22,246) |  |  | (12,571) |
Valencia non-controlling interest | (3,044) |  |  | — |  |  |  |  | — |  |  | (3,044) |
Subsidiary preferred stock dividends | (132) |  |  | — |  |  |  |  | — |  |  | (132) |
Segment earnings (loss) attributable to TXNM | $ | 41,920 |  |  | $ | 14,583 |  |  |  |  | $ | (9,313) |  |  | $ | 47,190 |
At March 31, 2024: |  |  |  |  |  |  |  |  |
Total Assets | $ | 6,878,575 |  |  | $ | 3,204,936 |  |  |  |  | $ | 174,142 |  |  | $ | 10,257,653 |
Goodwill | $ | 51,632 |  |  | $ | 226,665 |  |  |  |  | $ | — |  |  | $ | 278,297 |
Significant Segment Expenses Reflected above are certain additional categories of operating expenses that are regularly provided to the CODM. Cost of energy consists primarily of fuel and purchase power costs for PNM and costs charged by third-party transmission providers for TNMP. Administrative and general - direct expenses are those that are incurred directly by the segment while Administrative and general - corporate allocation are those costs that are incurred by the Corporate and Other segment and allocated to the utilities based on the nature of the cost incurred. Administrative and general - corporate allocation is eliminated in the Corporate and Other segment. Customer related expenses include meter reading, customer service, and bad debt expenses.

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- 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
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