XML 28 R9.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Earnings (Loss) - PNM - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Electric Operating Revenues:        
Contracts with customers $ 404,320 $ 368,893 $ 788,813 $ 715,478
Alternative revenue programs 2,579 7,236 (2,926) 6,327
Other electric operating revenue 92,831 50,411 157,961 69,442
Total electric operating revenues 499,730 426,540 943,848 791,247
Operating Expenses:        
Administrative and general 51,342 52,473 107,203 111,938
Regulatory disallowances and restructuring costs 1,399 0 1,399 0
Depreciation and amortization 76,769 70,727 152,533 140,601
Transmission and distribution costs 21,156 18,853 39,622 36,170
Taxes other than income taxes 24,577 20,169 48,556 42,762
Total operating expenses 413,338 352,337 789,388 673,878
Operating income 86,392 74,203 154,460 117,369
Other Income and Deductions:        
Investment Income, Interest 3,327 3,578 7,619 7,137
Gains (losses) on investment securities (41,795) 13,192 (68,368) 14,160
Other income 5,151 4,654 9,481 8,906
Other (deductions) (3,641) (5,448) (5,882) (8,738)
Net other income and deductions (36,958) 15,976 (57,150) 21,465
Interest Charges 29,217 24,119 55,437 50,003
Earnings before Income Taxes 20,217 66,060 41,873 88,831
Income Taxes (Benefits) 1,094 8,299 3,532 9,865
Net Earnings (Loss) 19,123 57,761 38,341 78,966
(Earnings) Attributable to Valencia Non-controlling Interest (3,630) (3,920) (6,725) (7,414)
Preferred Stock Dividend Requirements (132) (132) (264) (264)
Net Earnings (Loss) Available for PNM Common Stock 15,361 53,709 31,352 71,288
Energy        
Electric Operating Revenues:        
Total electric operating revenues 499,730 426,540 943,848 791,247
Operating Expenses:        
Energy costs 195,596 152,676 364,010 268,072
Energy Production        
Operating Expenses:        
Energy costs 42,499 37,439 76,065 74,335
PNM        
Electric Operating Revenues:        
Contracts with customers 280,220 271,652 555,864 522,858
Alternative revenue programs 3,703 1,886 1,638 2,862
Other electric operating revenue 92,831 50,411 157,961 69,442
Total electric operating revenues 376,754 323,949 715,463 595,162
Operating Expenses:        
Administrative and general 47,114 46,136 97,461 93,270
Regulatory disallowances and restructuring costs 1,399 0 1,399 0
Depreciation and amortization 45,981 42,489 91,771 84,438
Transmission and distribution costs 13,518 11,403 25,129 22,062
Taxes other than income taxes 12,844 10,947 26,409 23,586
Total operating expenses 327,319 272,182 621,012 510,345
Operating income 49,435 51,767 94,451 84,817
Other Income and Deductions:        
Investment Income, Interest 3,267 3,417 6,400 7,012
Gains (losses) on investment securities (41,795) 13,192 (68,368) 14,160
Other income 2,863 2,584 5,911 5,292
Other (deductions) (2,884) (4,673) (4,575) (7,105)
Net other income and deductions (38,549) 14,520 (60,632) 19,359
Interest Charges 14,523 13,039 29,095 25,932
Earnings before Income Taxes (3,637) 53,248 4,724 78,244
Income Taxes (Benefits) (1,182) 7,844 (359) 10,678
Net Earnings (Loss) (2,455) 45,404 5,083 67,566
(Earnings) Attributable to Valencia Non-controlling Interest (3,630) (3,920) (6,725) (7,414)
Net Earnings (Loss) Attributable to PNM (6,085) 41,484 (1,642) 60,152
Preferred Stock Dividend Requirements (132) (132) (264) (264)
Net Earnings (Loss) Available for PNM Common Stock (6,217) 41,352 (1,906) 59,888
PNM | Energy        
Operating Expenses:        
Energy costs 163,964 123,768 302,778 212,654
PNM | Energy Production        
Operating Expenses:        
Energy costs $ 42,499 $ 37,439 $ 76,065 $ 74,335