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Condensed Consolidated Statements of Earnings - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Electric Operating Revenues:        
Contracts with customers $ 314,917 $ 338,659 $ 630,614 $ 642,010
Operating revenues 330,228 352,313 679,872 670,191
Operating Expenses:        
Administrative and general 42,833 43,355 95,170 91,638
Regulatory disallowances and restructuring costs 149,254 1,794 150,599 1,794
Depreciation and amortization 66,065 60,063 131,421 118,785
Transmission and distribution costs 19,195 18,450 35,872 35,406
Taxes other than income taxes 19,809 19,723 40,317 39,602
Total operating expenses 423,843 272,984 736,764 544,730
Operating income (loss) (93,615) 79,329 (56,892) 125,461
Other Income and Deductions:        
Interest income 3,460 4,339 7,048 8,462
Gains (losses) on investment securities 4,599 (1,670) 18,613 (1,382)
Other income 3,350 4,796 6,795 8,265
Other (deductions) (3,117) (5,868) (6,369) (7,243)
Net other income and deductions 8,292 1,597 26,087 8,102
Interest Charges 29,791 33,321 61,425 66,376
Earnings (Loss) before Income Taxes (115,114) 47,605 (92,230) 67,187
Income Taxes (Benefits) (42,831) 5,156 (41,608) 5,939
Net Earnings (Loss) (72,283) 42,449 (50,622) 61,248
(Earnings) Attributable to Valencia Non-controlling Interest (3,499) (4,109) (6,328) (7,786)
Preferred Stock Dividend Requirements of Subsidiary (132) (132) (264) (264)
Net Earnings (Loss) Available for PNM Common Stock $ (75,914) $ 38,208 $ (57,214) $ 53,198
Net Earnings (Loss) Attributable to PNMR per Common Share:        
Basic (dollars per share) $ (0.95) $ 0.48 $ (0.72) $ 0.67
Diluted (dollars per share) (0.95) 0.48 (0.72) 0.67
Dividends Declared per Common Share (dollars per share) $ 0.290 $ 0.265 $ 0.580 $ 0.530
Alternative revenue programs        
Electric Operating Revenues:        
Operating revenues $ 5,844 $ 5,660 $ 6,480 $ 6,584
Other electric operating revenue        
Electric Operating Revenues:        
Operating revenues 9,467 7,994 42,778 21,597
Cost of energy        
Electric Operating Revenues:        
Operating revenues 330,228 352,313 679,872 670,191
Operating Expenses:        
Cost of energy and energy production costs 83,782 87,711 205,408 180,267
Energy production costs        
Operating Expenses:        
Cost of energy and energy production costs 42,905 41,888 77,977 77,238
PNM        
Electric Operating Revenues:        
Contracts with customers 228,061 254,728 464,002 477,291
Operating revenues 238,219 264,511 507,536 500,742
Operating Expenses:        
Administrative and general 40,237 40,922 87,639 84,648
Regulatory disallowances and restructuring costs 149,254 1,794 150,599 1,794
Depreciation and amortization 39,811 38,213 79,036 74,840
Transmission and distribution costs 11,838 10,993 22,471 20,820
Taxes other than income taxes 11,285 11,461 23,295 23,069
Total operating expenses 354,196 211,632 599,221 419,572
Operating income (loss) (115,977) 52,879 (91,685) 81,170
Other Income and Deductions:        
Interest income 3,530 3,381 7,187 5,868
Gains (losses) on investment securities 4,599 (1,670) 18,613 (1,382)
Other income 1,920 2,292 4,552 4,684
Other (deductions) (2,340) (3,768) (4,629) (5,229)
Net other income and deductions 7,709 235 25,723 3,941
Interest Charges 18,526 19,988 36,886 40,818
Earnings (Loss) before Income Taxes (126,794) 33,126 (102,848) 44,293
Income Taxes (Benefits) (43,481) 2,345 (41,508) 1,997
Net Earnings (Loss) (83,313) 30,781 (61,340) 42,296
(Earnings) Attributable to Valencia Non-controlling Interest (3,499) (4,109) (6,328) (7,786)
Net Earnings (Loss) Attributable to PNMR (86,812) 26,672 (67,668) 34,510
Preferred Stock Dividend Requirements of Subsidiary (132) (132) (264) (264)
Net Earnings (Loss) Available for PNM Common Stock (86,944) 26,540 (67,932) 34,246
PNM | Alternative revenue programs        
Electric Operating Revenues:        
Operating revenues 691 1,789 756 1,854
PNM | Other electric operating revenue        
Electric Operating Revenues:        
Operating revenues 9,467 7,994 42,778 21,597
PNM | Cost of energy        
Operating Expenses:        
Cost of energy and energy production costs 58,866 66,361 158,204 137,163
PNM | Energy production costs        
Operating Expenses:        
Cost of energy and energy production costs 42,905 41,888 77,977 77,238
Texas-New Mexico Power Company        
Electric Operating Revenues:        
Contracts with customers 86,856 83,931 166,612 164,719
Operating revenues 92,009 87,802 172,336 169,449
Operating Expenses:        
Administrative and general 9,097 8,852 20,655 19,561
Depreciation and amortization 20,502 16,113 40,716 32,500
Transmission and distribution costs 7,357 7,457 13,401 14,586
Taxes other than income taxes 7,559 7,201 15,197 14,337
Total operating expenses 69,431 60,973 137,173 124,088
Operating income (loss) 22,578 26,829 35,163 45,361
Other Income and Deductions:        
Other income 1,191 2,223 1,940 2,976
Other (deductions) (460) (1,391) (623) (1,060)
Net other income and deductions 731 832 1,317 1,916
Interest Charges 6,560 7,801 15,361 15,530
Earnings (Loss) before Income Taxes 16,749 19,860 21,119 31,747
Income Taxes (Benefits) 1,482 4,493 1,754 6,968
Net Earnings (Loss) Attributable to PNMR 15,267 15,367 19,365 24,779
Texas-New Mexico Power Company | Alternative revenue programs        
Electric Operating Revenues:        
Operating revenues 5,153 3,871 5,724 4,730
Texas-New Mexico Power Company | Other electric operating revenue        
Electric Operating Revenues:        
Operating revenues 0 0 0 0
Texas-New Mexico Power Company | Cost of energy        
Operating Expenses:        
Cost of energy and energy production costs $ 24,916 $ 21,350 $ 47,204 $ 43,104