Earnings Per Share

9 Months Ended

Sep. 30, 2020

Earnings Per ShareIn accordance with GAAP, dual presentation of basic and diluted earnings per share is presented in the Condensed Consolidated Statements of Earnings of PNMR. PNMR’s potentially dilutive shares consist of restricted stock and PNMR common stock issuable under the PNMR 2020 Forward Equity Sale Agreements, which are calculated under the treasury stock method. See Note 9.

Information regarding the computation of earnings per share is as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
	(In thousands, except per share amounts)
Net Earnings Attributable to PNMR	$	121,768	$	102,771	$	163,997	$	45,557
Average Number of Common Shares:
Outstanding during period	79,654		79,654		79,654		79,654
Vested awards of restricted stock	213		294		205		265
Average Shares – Basic	79,867		79,948		79,859		79,919
Dilutive Effect of Common Stock Equivalents:
PNMR 2020 Forward Equity Sale Agreements	—		—		57		—
Restricted stock	39		53		38		61
Average Shares – Diluted	79,906		80,001		79,954		79,980

Net Earnings Per Share of Common Stock:
Basic	$	1.52	$	1.29	$	2.05	$	0.57
Diluted	$	1.52	$	1.28	$	2.05	$	0.57