Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

In accordance with GAAP, dual presentation of basic and diluted earnings per share is presented in the Condensed Consolidated Statements of Earnings of PNMR. Information regarding the computation of earnings per share is as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
	(In thousands, except per share amounts)
Net Earnings Attributable to PNMR	$	27,678	$	21,512	$	38,304	$	38,592
Average Number of Common Shares:
Outstanding during period	79,654		79,654		79,654		79,654
Vested awards of restricted stock	194		154		202		177
Average Shares - Basic	79,848		79,808		79,856		79,831
Dilutive Effect of Common Stock Equivalents (1):
Stock options and restricted stock	607		558		661		590
Average Shares - Diluted	80,455		80,366		80,517		80,421
Net Earnings Per Share of Common Stock:
Basic	$	0.35	$	0.27	$	0.48	$	0.48
Diluted	$	0.34	$	0.27	$	0.48	$	0.48

⁽¹⁾  Excludes the effect of out-of-the-money options for 825,877 shares of common stock at June 30, 2013.