Discontinued Operations

12 Months Ended

Dec. 31, 2011

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations [Text Block]

Discontinued Operations

PNM Gas

As discussed in Note 2, PNM sold its gas operations, which comprised the PNM Gas segment, on January 30, 2009. Under GAAP, PNM Gas is presented as discontinued operations on the accompanying Consolidated Statements of Earnings (Loss). In accordance with GAAP, no depreciation was recorded on assets held for sale in 2009. PNM also retained obligations for certain contingent liabilities that existed at the date of sale. PNM recognized $5.4 million in expense related to these liabilities in the 2009 Results of Operations for PNM Gas. Summarized financial information for PNM Gas is as follows:

Results of Operations

	Period from
	January 1 to
	January 30,
	2009
	(In thousands)
Operating revenues	$	65,695
Cost of energy	44,698
Gross margin	20,997
Operating expenses	11,264
Depreciation and amortization	—
Operating income	9,733
Other income (deductions)	292
Net interest charges	(962		)
Gain on disposal	98,425
Segment earnings before income taxes	107,488
Income taxes (benefit)	36,687
Segment Earnings	$	70,801

PNM Gas’s cost-of-gas revenues collected from sales-service customers were recovered in accordance with NMPRC regulations through the PGAC and represented a pass-through of the cost of natural gas to the customer.