Segment Information (Tables)

3 Months Ended

Mar. 31, 2022

Summary of Financial Information by Segment

The following tables present summarized financial information for PNMR by segment. PNM and TNMP each operate in only one segment. Therefore, tabular segment information is not presented for PNM and TNMP.

PNMR SEGMENT INFORMATION


	PNM		TNMP		Corporate and Other		PNMR Consolidated
	(In thousands)

















Three Months Ended March 31, 2022
Electric operating revenues	$	338,709	$	105,409	$	—	$	444,118
Cost of energy	138,814		29,600		—		168,414
Utility margin	199,895		75,809		—		275,704
Other operating expenses	109,089		27,925		(5,142)		131,872
Depreciation and amortization	45,790		23,642		6,332		75,764
Operating income (loss)	45,016		24,242		(1,190)		68,068
Interest income	3,133		1,182		(23)		4,292
Other income (deductions)	(25,216)		937		(205)		(24,484)
Interest charges	(14,572)		(9,150)		(2,498)		(26,220)
Segment earnings (loss) before income taxes	8,361		17,211		(3,916)		21,656
Income taxes (benefit)	823		2,151		(536)		2,438
Segment earnings (loss)	7,538		15,060		(3,380)		19,218
Valencia non-controlling interest	(3,095)		—		—		(3,095)
Subsidiary preferred stock dividends	(132)		—		—		(132)
Segment earnings (loss) attributable to PNMR	$	4,311	$	15,060	$	(3,380)	$	15,991

At March 31, 2022:
Total Assets	$	6,040,088	$	2,450,081	$	237,517	$	8,727,686
Goodwill	$	51,632	$	226,665	$	—	$	278,297


	PNM		TNMP		Corporate and Other		PNMR Consolidated
	(In thousands)

















Three Months Ended March 31, 2021
Electric operating revenues	$	271,213	$	93,494	$	—	$	364,707
Cost of energy	88,886		26,510		—		115,396
Utility margin	182,327		66,984		—		249,311
Other operating expenses	107,328		27,769		1,174		136,271
Depreciation and amortization	41,949		22,190		5,735		69,874
Operating income (loss)	33,050		17,025		(6,909)		43,166
Interest income	3,595		—		(36)		3,559
Other income (deductions)	1,244		1,062		(376)		1,930
Interest charges	(12,893)		(8,475)		(4,516)		(25,884)
Segment earnings (loss) before income taxes	24,996		9,612		(11,837)		22,771
Income taxes (benefit)	2,834		877		(2,145)		1,566
Segment earnings (loss)	22,162		8,735		(9,692)		21,205
Valencia non-controlling interest	(3,494)		—		—		(3,494)
Subsidiary preferred stock dividends	(132)		—		—		(132)
Segment earnings (loss) attributable to PNMR	$	18,536	$	8,735	$	(9,692)	$	17,579

At March 31, 2021:
Total Assets	$	5,561,146	$	2,163,250	$	218,913	$	7,943,309
Goodwill	$	51,632	$	226,665	$	—	$	278,297