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Condensed Consolidated Statements of Earnings - PNM - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Electric Operating Revenues $ 505,851 $ 729,888 $ 1,527,084 $ 1,673,736
Operating Expenses:        
Administrative and general 58,481 58,125 167,630 165,328
Regulatory disallowances and restructuring costs 2,315 (567) 6,046 832
Depreciation and amortization 80,192 76,570 237,405 229,103
Transmission and distribution costs 25,078 21,538 72,739 61,160
Taxes other than income taxes 22,432 22,651 72,395 71,207
Total operating expenses 419,199 547,125 1,249,011 1,336,513
Operating income 86,652 182,763 278,073 337,223
Other Income and Deductions:        
Interest income 5,366 3,969 15,568 11,588
Gains (losses) on investment securities (8,404) (15,736) 1,815 (84,104)
Other income 8,428 5,364 17,121 14,845
Other (deductions) (4,555) (1,647) (10,562) (7,529)
Net other income and deductions 835 (8,050) 23,942 (65,200)
Interest Charges 49,838 34,526 136,660 89,963
Earnings before Income Taxes 37,649 140,187 165,355 182,060
Income Taxes (Benefits) (5,267) 13,450 12,742 16,982
Net Earnings 42,916 126,737 152,613 165,078
(Earnings) Attributable to Valencia Non-controlling Interest (5,058) (4,172) (14,172) (10,897)
Preferred Stock Dividend Requirements (132) (132) (396) (396)
Net Earnings Available for PNM Common Stock 37,726 122,433 138,045 153,785
Energy        
Electric Operating Revenues 505,851 729,888 1,527,084 1,673,736
Operating Expenses:        
Energy costs 210,313 334,339 624,451 698,349
Energy Production        
Operating Expenses:        
Energy costs 20,388 34,469 68,345 110,534
PNM        
Electric Operating Revenues 350,334 597,337 1,118,741 1,312,800
Operating Expenses:        
Administrative and general 53,460 51,900 151,178 149,361
Regulatory disallowances and restructuring costs 2,315 (567) 6,046 832
Depreciation and amortization 44,537 45,361 132,287 137,132
Transmission and distribution costs 15,326 12,549 43,968 37,678
Taxes other than income taxes 9,250 10,359 36,078 36,768
Total operating expenses 319,638 457,422 955,726 1,078,434
Operating income 30,696 139,915 163,015 234,366
Other Income and Deductions:        
Interest income 5,323 3,888 15,542 10,288
Gains (losses) on investment securities (8,404) (15,736) 1,815 (84,104)
Other income 3,484 2,086 8,656 7,997
Other (deductions) (2,678) (793) (7,341) (5,368)
Net other income and deductions (2,275) (10,555) 18,672 (71,187)
Interest Charges 22,354 15,467 61,242 44,562
Earnings before Income Taxes 6,067 113,893 120,445 118,617
Income Taxes (Benefits) (7,199) 12,121 12,041 11,762
Net Earnings 13,266 101,772 108,404 106,855
(Earnings) Attributable to Valencia Non-controlling Interest (5,058) (4,172) (14,172) (10,897)
Net Earnings Attributable to PNM 8,208 97,600 94,232 95,958
Preferred Stock Dividend Requirements (132) (132) (396) (396)
Net Earnings Available for PNM Common Stock 8,076 97,468 93,836 95,562
PNM | Energy        
Operating Expenses:        
Energy costs 174,362 303,351 517,824 606,129
PNM | Energy Production        
Operating Expenses:        
Energy costs $ 20,388 $ 34,469 $ 68,345 $ 110,534