Segment Information (Tables)

3 Months Ended

Mar. 31, 2020

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, 2020
Electric operating revenues	$	248,133	$	85,489	$	—	$	333,622
Cost of energy	74,524		24,186		—		98,710
Utility margin	173,609		61,303		—		234,912
Other operating expenses	98,555		25,122		(5,476)		118,201
Depreciation and amortization	41,449		21,836		5,688		68,973
Operating income (loss)	33,605		14,345		(212)		47,738
Interest income	3,496		—		(73)		3,423
Other income (deductions)	(34,027)		561		(540)		(34,006)
Interest charges	(17,629)		(7,172)		(5,633)		(30,434)
Segment earnings (loss) before income taxes	(14,555)		7,734		(6,458)		(13,279)
Income taxes (benefit)	(2,359)		642		(163)		(1,880)
Segment earnings (loss)	(12,196)		7,092		(6,295)		(11,399)
Valencia non-controlling interest	(3,729)		—		—		(3,729)
Subsidiary preferred stock dividends	(132)		—		—		(132)
Segment earnings (loss) attributable to PNMR	$	(16,057)	$	7,092	$	(6,295)	$	(15,260)

At March 31, 2020:
Total Assets	$	5,260,528	$	1,913,270	$	201,321	$	7,375,119
Goodwill	$	51,632	$	226,665	$	—	$	278,297


	PNM		TNMP		Corporate and Other		PNMR Consolidated
	(In thousands)

















Three Months Ended March 31, 2019
Electric operating revenues	$	269,318	$	80,327	$	—	$	349,645
Cost of energy	99,339		22,287		—		121,626
Utility margin	169,979		58,040		—		228,019
Other operating expenses	106,462		25,241		(5,763)		125,940
Depreciation and amortization	39,224		20,214		5,918		65,356
Operating income (loss)	24,293		12,585		(155)		36,723
Interest income	3,656		—		(68)		3,588
Other income (deductions)	14,358		585		(735)		14,208
Interest charges	(18,360)		(8,800)		(4,474)		(31,634)
Segment earnings (loss) before income taxes	23,947		4,370		(5,432)		22,885
Income taxes (benefit)	1,973		272		(1,022)		1,223
Segment earnings (loss)	21,974		4,098		(4,410)		21,662
Valencia non-controlling interest	(2,830)		—		—		(2,830)
Subsidiary preferred stock dividends	(132)		—		—		(132)
Segment earnings (loss) attributable to PNMR	$	19,012	$	4,098	$	(4,410)	$	18,700

At March 31, 2019:
Total Assets	$	5,202,039	$	1,871,780	$	176,939	$	7,250,758
Goodwill	$	51,632	$	226,665	$	—	$	278,297