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Condensed Consolidated Statements of Earnings (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Electric Operating Revenues:        
Contracts with customers $ 343,075 $ 314,917 $ 666,057 $ 630,614
Alternative revenue programs 4,466 5,844 4,892 6,480
Other electric operating revenue 10,108 9,467 20,322 42,778
Total electric operating revenues 357,649 330,228 691,271 679,872
Operating Expenses:        
Administrative and general 50,453 42,833 96,485 95,170
Regulatory disallowances and restructuring costs 0 149,254 0 150,599
Depreciation and amortization 70,022 66,065 138,995 131,421
Transmission and distribution costs 18,034 19,195 35,320 35,872
Taxes other than income taxes 20,782 19,809 42,047 40,317
Total operating expenses 286,499 423,843 572,383 736,764
Operating income (loss) 71,150 (93,615) 118,888 (56,892)
Other Income and Deductions:        
Interest income 3,071 3,460 6,494 7,048
Gains (losses) on investment securities 21,620 4,599 (11,229) 18,613
Other income 4,390 3,350 6,706 6,795
Other (deductions) (3,307) (3,117) (6,780) (6,369)
Net other income and deductions 25,774 8,292 (4,809) 26,087
Interest Charges 31,088 29,791 61,522 61,425
Earnings (Loss) before Income Taxes 65,836 (115,114) 52,557 (92,230)
Income Taxes (Benefits) 4,275 (42,831) 2,395 (41,608)
Net Earnings (Loss) 61,561 (72,283) 50,162 (50,622)
(Earnings) Attributable to Valencia Non-controlling Interest (3,940) (3,499) (7,669) (6,328)
Preferred Stock Dividend Requirements of Subsidiary (132) (132) (264) (264)
Net Earnings (Loss) Available for PNM Common Stock $ 57,489 $ (75,914) $ 42,229 $ (57,214)
Net Earnings (Loss) Attributable to PNMR per Common Share:        
Basic (dollars per share) $ 0.72 $ (0.95) $ 0.53 $ (0.72)
Diluted (dollars per share) 0.72 (0.95) 0.53 (0.72)
Dividends Declared per Common Share (dollars per share) $ 0.308 $ 0.290 $ 0.615 $ 0.580
Cost of energy        
Electric Operating Revenues:        
Total electric operating revenues $ 357,649 $ 330,228 $ 691,271 $ 679,872
Operating Expenses:        
Energy costs 93,863 83,782 192,573 205,408
Energy production costs        
Operating Expenses:        
Energy costs 33,345 42,905 66,963 77,977
PNM        
Electric Operating Revenues:        
Contracts with customers 248,151 228,061 483,909 464,002
Alternative revenue programs 2,529 691 4,690 756
Other electric operating revenue 10,108 9,467 20,322 42,778
Total electric operating revenues 260,788 238,219 508,921 507,536
Operating Expenses:        
Administrative and general 45,051 40,237 86,719 87,639
Regulatory disallowances and restructuring costs 0 149,254 0 150,599
Depreciation and amortization 41,763 39,811 83,212 79,036
Transmission and distribution costs 11,275 11,838 22,190 22,471
Taxes other than income taxes 11,886 11,285 24,241 23,295
Total operating expenses 211,204 354,196 425,733 599,221
Operating income (loss) 49,584 (115,977) 83,188 (91,685)
Other Income and Deductions:        
Interest income 3,147 3,530 6,643 7,187
Gains (losses) on investment securities 21,620 4,599 (11,229) 18,613
Other income 1,758 1,920 3,267 4,552
Other (deductions) (2,424) (2,340) (5,110) (4,629)
Net other income and deductions 24,101 7,709 (6,429) 25,723
Interest Charges 19,178 18,526 36,807 36,886
Earnings (Loss) before Income Taxes 54,507 (126,794) 39,952 (102,848)
Income Taxes (Benefits) 4,895 (43,481) 2,536 (41,508)
Net Earnings (Loss) 49,612 (83,313) 37,416 (61,340)
(Earnings) Attributable to Valencia Non-controlling Interest (3,940) (3,499) (7,669) (6,328)
Preferred Stock Dividend Requirements of Subsidiary (132) (132) (264) (264)
Net Earnings (Loss) Attributable to PNMR 45,672 (86,812) 29,747 (67,668)
Net Earnings (Loss) Available for PNM Common Stock 45,540 (86,944) 29,483 (67,932)
PNM | Cost of energy        
Operating Expenses:        
Energy costs 67,884 58,866 142,408 158,204
PNM | Energy production costs        
Operating Expenses:        
Energy costs 33,345 42,905 66,963 77,977
Texas-New Mexico Power Company        
Electric Operating Revenues:        
Contracts with customers 94,924 86,856 182,148 166,612
Alternative revenue programs 1,937 5,153 202 5,724
Other electric operating revenue 0 0 0 0
Total electric operating revenues 96,861 92,009 182,350 172,336
Operating Expenses:        
Administrative and general 10,757 9,097 21,530 20,655
Depreciation and amortization 22,368 20,502 44,204 40,716
Transmission and distribution costs 6,759 7,357 13,130 13,401
Taxes other than income taxes 7,823 7,559 15,801 15,197
Total operating expenses 73,686 69,431 144,830 137,173
Operating income (loss) 23,175 22,578 37,520 35,163
Other Income and Deductions:        
Other income 2,029 1,191 2,699 1,940
Other (deductions) (66) (460) (175) (623)
Net other income and deductions 1,963 731 2,524 1,317
Interest Charges 7,361 6,560 14,533 15,361
Earnings (Loss) before Income Taxes 17,777 16,749 25,511 21,119
Income Taxes (Benefits) 1,603 1,482 2,245 1,754
Net Earnings (Loss) Attributable to PNMR 16,174 15,267 23,266 19,365
Texas-New Mexico Power Company | Cost of energy        
Operating Expenses:        
Energy costs $ 25,979 $ 24,916 $ 50,165 $ 47,204