Earnings Per Share

9 Months Ended

Sep. 30, 2023

Dual presentation of basic and diluted earnings per share is presented in the Condensed Consolidated Statements of Earnings of PNMR. Diluted earnings per share was computed using the treasury stock method for both restricted stock and the 2023 forward sales agreements. Information regarding the computation of earnings per share is as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
	(In thousands, except per share amounts)
Net Earnings Attributable to PNMR	$	37,726	$	122,433	$	138,045	$	153,785
Average Number of Common Shares:
Outstanding during period	85,835		85,835		85,835		85,835
Vested awards of restricted stock	254		266		257		291
Average Shares – Basic	86,089		86,101		86,092		86,126
Dilutive Effect of Common Stock Equivalents:
Restricted stock	32		35		36		52
2023 Forward Sale Agreements	8		—		23		—
Average Shares – Diluted	86,129		86,136		86,151		86,178

Net Earnings Per Share of Common Stock:
Basic	$	0.44	$	1.42	$	1.60	$	1.79
Diluted	$	0.44	$	1.42	$	1.60	$	1.78