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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
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
PNMTNMPCorporate
and Other		PNMR Consolidated
(In thousands)
Three Months Ended September 30, 2023
Electric operating revenues$350,334 $155,517 $— $505,851 
Cost of energy174,362 35,951 — 210,313 
Utility margin175,972 119,566 — 295,538 
Other operating expenses100,739 35,055 (7,100)128,694 
Depreciation and amortization44,537 28,357 7,298 80,192 
Operating income (loss)30,696 56,154 (198)86,652 
Interest income (expense)5,323 178 (135)5,366 
Other income (deductions)
(7,598)2,448 619 (4,531)
Interest charges(22,354)(12,095)(15,389)(49,838)
Segment earnings (loss) before income taxes
6,067 46,685 (15,103)37,649 
Income taxes (benefit)(7,199)7,181 (5,249)(5,267)
Segment earnings (loss)
13,266 39,504 (9,854)42,916 
Valencia non-controlling interest
(5,058)— — (5,058)
Subsidiary preferred stock dividends
(132)— — (132)
Segment earnings (loss) attributable to PNMR
$8,076 $39,504 $(9,854)$37,726 
Nine Months Ended September 30, 2023
Electric operating revenues$1,118,741 $408,343 $— $1,527,084 
Cost of energy517,824 106,627 — 624,451 
Utility margin600,917 301,716 — 902,633 
Other operating expenses305,615 101,302 (19,762)387,155 
Depreciation and amortization132,287 83,746 21,372 237,405 
Operating income (loss)163,015 116,668 (1,610)278,073 
Interest income (expense)15,542 413 (387)15,568 
Other income 3,130 4,096 1,148 8,374 
Interest charges(61,242)(33,932)(41,486)(136,660)
Segment earnings (loss) before income taxes
120,445 87,245 (42,335)165,355 
Income taxes (benefit)12,041 13,076 (12,375)12,742 
Segment earnings (loss)
108,404 74,169 (29,960)152,613 
Valencia non-controlling interest
(14,172)— — (14,172)
Subsidiary preferred stock dividends
(396)— — (396)
Segment earnings (loss) attributable to PNMR
$93,836 $74,169 $(29,960)$138,045 
At September 30, 2023:
Total Assets
$6,731,852 $3,039,357 $279,632 $10,050,841 
Goodwill
$51,632 $226,665 $— $278,297 
PNMTNMPCorporate
and Other		PNMR Consolidated
(In thousands)
Three Months Ended September 30, 2022
Electric operating revenues$597,337 $132,551 $— $729,888 
Cost of energy303,351 30,988 — 334,339 
Utility margin293,986 101,563 — 395,549 
Other operating expenses108,710 32,766 (5,260)136,216 
Depreciation and amortization45,361 24,960 6,249 76,570 
Operating income (loss)139,915 43,837 (989)182,763 
Interest income (expense)3,888 148 (67)3,969 
Other income (deductions)(14,443)2,243 181 (12,019)
Interest charges(15,467)(9,851)(9,208)(34,526)
Segment earnings (loss) before income taxes
113,893 36,377 (10,083)140,187 
Income taxes (benefit)12,121 4,946 (3,617)13,450 
Segment earnings (loss)
101,772 31,431 (6,466)126,737 
Valencia non-controlling interest
(4,172)— — (4,172)
Subsidiary preferred stock dividends
(132)— — (132)
Segment earnings (loss) attributable to PNMR
$97,468 $31,431 $(6,466)$122,433 
Nine Months Ended September 30, 2022
Electric operating revenues$1,312,800 $360,936 $— $1,673,736 
Cost of energy606,129 92,220 — 698,349 
Utility margin706,671 268,716 — 975,387 
Other operating expenses335,173 89,723 (15,835)409,061 
Depreciation and amortization137,132 72,914 19,057 229,103 
Operating income (loss)234,366 106,079 (3,222)337,223 
Interest income (expense)10,288 1,435 (135)11,588 
Other income (deductions)(81,475)4,303 384 (76,788)
Interest charges(44,562)(28,017)(17,384)(89,963)
Segment earnings (loss) before income taxes
118,617 83,800 (20,357)182,060 
Income taxes (benefit)11,762 11,258 (6,038)16,982 
Segment earnings (loss)
106,855 72,542 (14,319)165,078 
Valencia non-controlling interest
(10,897)— — (10,897)
Subsidiary preferred stock dividends
(396)— — (396)
Segment earnings (loss) attributable to PNMR
$95,562 $72,542 $(14,319)$153,785 
At September 30, 2022:
Total Assets
$6,113,416 $2,673,546 $241,928 $9,028,890 
Goodwill
$51,632 $226,665 $— $278,297 
Public Utilities General Disclosures PNM and TNMP do not intend for utility margin to represent any financial measure as defined by GAAP however, the calculation of utility margin, as presented, most closely compares to gross margin as defined by GAAP. Reconciliations between utility margin and gross margin are presented below.
PNMTNMPCorporate and OtherPNMR Consolidated
(In thousands)
Three Months Ended September 30, 2023
Gross margin$95,721 $81,457 $— $177,178 
Energy production costs20,388 — — 20,388 
Transmission and distribution costs15,326 9,752 — 25,078 
Depreciation and amortization44,537 28,357 — 72,894 
1
Utility margin$175,972 $119,566 $— $295,538 
Nine Months Ended September 30, 2023
Gross margin$356,317 $189,199 $— $545,516 
Energy production costs68,345 — — 68,345 
Transmission and distribution costs43,968 28,771 — 72,739 
Depreciation and amortization132,287 83,746 — 216,033 
1
Utility margin$600,917 $301,716 $— $902,633 

PNMTNMPCorporate and OtherPNMR Consolidated
(In thousands)
Three Months Ended September 30, 2022
Gross margin$201,607 $67,614 $— $269,221 
Energy production costs34,469 — — 34,469 
Transmission and distribution costs12,549 8,989 — 21,538 
Depreciation and amortization45,361 24,960 — 70,321 
1
Utility margin$293,986 $101,563 $— $395,549 
Nine Months Ended September 30, 2022
Gross margin$421,327 $172,320 $— $593,647 
Energy production costs110,534 — — 110,534 
Transmission and distribution costs37,678 23,482 — 61,160 
Depreciation and amortization137,132 72,914 — 210,046 
1
Utility margin$706,671 $268,716 $— $975,387 

1 Corporate and Other depreciation and amortization represents corporate level activities that are billed at cost and reflected as general and administrative expenses at PNM and TNMP and therefore are not a component of gross margin or utility margin. See Note 1.