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Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

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.

TXNM SEGMENT INFORMATION

			PNM						TNMP												Corporate and Other						TXNM
			(In thousands)
Three Months Ended June 30, 2025
Electric operating revenues			$	338,372					$	164,048											$	—					$	502,420
Cost of energy
Fuel burn			29,927						—												—						29,927
Purchases for resale			88,870						—												—						88,870
Transmission by others			5,539						43,286												—						48,825
Significant segment expenses
Administrative and general - direct			16,603						134												50,910						67,647
Administrative and general - corporate allocation			35,317						14,110												(49,427)						—
Customer related expenses			7,606						750												(12)						8,344
Energy production costs			26,081						—												—						26,081
Depreciation and amortization			60,778						34,926												9,531						105,235
Transmission and distribution costs			15,750						10,711												—						26,461
Taxes other than income taxes			15,262						11,444												1,623						28,329
Total operating expenses			301,733						115,361												12,625						429,719
Net other income and (deductions)			26,545						1,694												(1,588)						26,651
Interest charges			(31,975)						(23,942)												(16,096)						(72,013)
Income taxes (benefit)			2,410						5,471												(6,555)						1,326
Valencia non-controlling interest			(4,305)						—												—						(4,305)
Subsidiary preferred stock dividends			(132)						—												—						(132)
Segment earnings (loss) attributable to TXNM			$	24,362					$	20,968											$	(23,754)					$	21,576

			PNM						TNMP												Corporate and Other						TXNM
			(In thousands)
Six Months Ended June 30, 2025
Electric operating revenues			$	671,752					$	313,460											$	—					$	985,212
Cost of energy
Fuel burn			56,468						—												—						56,468
Purchases for resale			186,105						—												—						186,105
Transmission by others			12,717						81,514												—						94,231
Significant segment expenses
Administrative and general - direct			34,469						(1,918)												87,480						120,031
Administrative and general - corporate allocation			67,405						27,486												(94,891)						—
Customer related expenses			15,262						1,467												—						16,729
Energy production costs			50,627						—												—						50,627
Depreciation and amortization			120,581						70,139												19,066						209,786
Transmission and distribution costs			31,576						20,390												—						51,966
Taxes other than income taxes			28,565						22,948												3,166						54,679
Total operating expenses			603,775						222,026												14,821						840,622
Net other income and (deductions)			29,805						4,100												(1,777)						32,128
Interest charges			(61,791)						(41,264)												(32,509)						(135,564)
Income taxes (benefit)			2,373						11,019												(11,048)						2,344
Valencia non-controlling interest			(8,047)						—												—						(8,047)
Subsidiary preferred stock dividends			(264)						—												—						(264)
Segment earnings (loss) attributable to TXNM			$	25,307					$	43,251											$	(38,059)					$	30,499
At June 30, 2025:
Total Assets			$	7,593,440					$	3,923,342											$	158,482					$	11,675,264
Goodwill			$	51,632					$	226,665											$	—					$	278,297

Three Months Ended June 30, 2024
Electric operating revenues			$	333,671					$	154,431											$	—					$	488,102
Cost of energy
Fuel burn			41,821						—												—						41,821
Purchases for resale			68,047						—												—						68,047
Transmission by others			4,904						39,934												—						44,838
Significant segment expenses
Administrative and general - direct			16,111						45												34,854						51,010
Administrative and general - corporate allocation			31,023						12,885												(43,908)						—
Customer related expenses			7,742						775												54						8,571
Energy production costs			24,584						—												—						24,584
Depreciation and amortization			54,230						31,033												9,150						94,413
Transmission and distribution costs			15,350						9,701												—						25,051
Taxes other than income taxes			11,768						10,743												1,573						24,084
Total operating expenses			275,580						105,116												1,723						382,419
Net other income and (deductions)			8,312						2,832												(64)						11,080
Interest charges			(25,880)						(14,451)												(15,497)						(55,828)
Income taxes (benefit)			5,821						7,771												(4,621)						8,971
Valencia non-controlling interest			(3,783)						—												—						(3,783)
Subsidiary preferred stock dividends			(132)						—												—						(132)
Segment earnings (loss) attributable to TXNM			$	30,787					$	29,925											$	(12,663)					$	48,049

			PNM						TNMP												Corporate and Other						TXNM
			(In thousands)
Six Months Ended June 30, 2024
Electric operating revenues			$	641,786					$	283,193											$	—					$	924,979
Cost of energy
Fuel burn			78,502						—												—						78,502
Purchases for resale			122,516						—												—						122,516
Transmission by others			11,166						74,826												—						85,992
Significant segment expenses
Administrative and general - direct			25,150						(1,239)												74,494						98,405
Administrative and general - corporate allocation			66,430						27,121												(93,551)						—
Customer related expenses			15,032						1,492												79						16,603
Energy production costs			46,796						—												—						46,796
Regulatory disallowances			4,459						—												—						4,459
Depreciation and amortization			107,517						61,415												18,668						187,600
Transmission and distribution costs			29,700						18,115												—						47,815
Taxes other than income taxes			25,477						21,410												3,131						50,018
Total operating expenses			532,745						203,140												2,821						738,706
Net other income and (deductions)			33,385						3,877												(15,215)						22,047
Interest charges			(50,996)						(27,787)												(30,807)						(109,590)
Income taxes (benefit)			11,632						11,635												(26,867)						(3,600)
Valencia non-controlling interest			(6,827)						—												—						(6,827)
Subsidiary preferred stock dividends			(264)						—												—						(264)
Segment earnings (loss) attributable to TXNM			$	72,707					$	44,508											$	(21,976)					$	95,239
At June 30, 2024:
Total Assets			$	7,060,151					$	3,354,923											$	168,336					$	10,583,410
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
-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

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- References

No definition available.

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