Segment Information (Tables)

3 Months Ended

Mar. 31, 2021

Summary of Financial Information by Segment

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

PNMR SEGMENT INFORMATION


	PNM		TNMP		Corporate and Other		PNMR Consolidated
	(In thousands)
Three Months Ended March 31, 2021
Electric operating revenues	$	271,213	$	93,494	$	—	$	364,707
Cost of energy	88,886		26,510		—		115,396
Utility margin	182,327		66,984		—		249,311
Other operating expenses	107,328		27,769		1,174		136,271
Depreciation and amortization	41,949		22,190		5,735		69,874
Operating income (loss)	33,050		17,025		(6,909)		43,166
Interest income	3,595		—		(36)		3,559
Other income	1,244		1,062		(376)		1,930
Interest charges	(12,893)		(8,475)		(4,516)		(25,884)
Segment earnings (loss) before income taxes	24,996		9,612		(11,837)		22,771
Income taxes (benefit)	2,834		877		(2,145)		1,566
Segment earnings (loss)	22,162		8,735		(9,692)		21,205
Valencia non-controlling interest	(3,494)		—		—		(3,494)
Subsidiary preferred stock dividends	(132)		—		—		(132)
Segment earnings (loss) attributable to PNMR	$	18,536	$	8,735	$	(9,692)	$	17,579


















At March 31, 2021:
Total Assets	$	5,561,146	$	2,163,250	$	218,913	$	7,943,309
Goodwill	$	51,632	$	226,665	$	—	$	278,297


	PNM		TNMP		Corporate and Other		PNMR Consolidated
	(In thousands)
Three Months Ended March 31, 2020
Electric operating revenues	$	248,133	$	85,489	$	—	$	333,622
Cost of energy	74,524		24,186		—		98,710
Utility margin	173,609		61,303		—		234,912
Other operating expenses	98,555		25,122		(5,476)		118,201
Depreciation and amortization	41,449		21,836		5,688		68,973
Operating income (loss)	33,605		14,345		(212)		47,738
Interest income	3,496		—		(73)		3,423
Other income (deductions)	(34,027)		561		(540)		(34,006)
Interest charges	(17,629)		(7,172)		(5,633)		(30,434)
Segment earnings (loss) before income taxes	(14,555)		7,734		(6,458)		(13,279)
Income taxes (benefit)	(2,359)		642		(163)		(1,880)
Segment earnings (loss)	(12,196)		7,092		(6,295)		(11,399)
Valencia non-controlling interest	(3,729)		—		—		(3,729)
Subsidiary preferred stock dividends	(132)		—		—		(132)
Segment earnings (loss) attributable to PNMR	$	(16,057)	$	7,092	$	(6,295)	$	(15,260)


















At March 31, 2020:
Total Assets	$	5,260,528	$	1,913,270	$	201,321	$	7,375,119
Goodwill	$	51,632	$	226,665	$	—	$	278,297