Earnings and Dividends Per Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Earnings and Dividends Per Share

Earnings and Dividends Per Share

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

	Year Ended December 31,
	2013		2012		2011
	(In thousands, except per share amounts)
Earnings Attributable to PNMR	$	100,507	$	105,547	$	176,359
Average Number of Common Shares:
Outstanding during year	79,654		79,654		85,558
Equivalents from convertible preferred stock (Note 5)	—		—		3,469
Vested awards of restricted stock	191		145		174
Average Shares - Basic	79,845		79,799		89,201
Dilutive Effect of Common Stock Equivalents (1):
Stock options and restricted stock	586		618		556
Average Shares – Diluted	80,431		80,417		89,757
Net Earnings Per Share of Common Stock:
Basic	$	1.26	$	1.32	$	1.98
Diluted	$	1.25	$	1.31	$	1.96
Dividends Declared per Common Share	$	0.68	$	0.58	0.50

⁽¹⁾  Excludes out-of-the-money options for 509,916 shares of common stock at December 31, 2013. See Note 13.