Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

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

	PNM		TNMP		Corporate and Other		PNMR Consolidated
	(In thousands)
Three Months Ended June 30, 2020
Electric operating revenues	$	260,788	$	96,861	$	—	$	357,649
Cost of energy	67,884		25,979		—		93,863
Utility margin	192,904		70,882		—		263,786
Other operating expenses	101,557		25,339		(4,282)		122,614
Depreciation and amortization	41,763		22,368		5,891		70,022
Operating income (loss)	49,584		23,175		(1,609)		71,150
Interest income	3,147		—		(76)		3,071
Other income (deductions)	20,954		1,963		(214)		22,703
Interest charges	(19,178)		(7,361)		(4,549)		(31,088)
Segment earnings (loss) before income taxes	54,507		17,777		(6,448)		65,836
Income taxes (benefit)	4,895		1,603		(2,223)		4,275
Segment earnings (loss)	49,612		16,174		(4,225)		61,561
Valencia non-controlling interest	(3,940)		—		—		(3,940)
Subsidiary preferred stock dividends	(132)		—		—		(132)
Segment earnings (loss) attributable to PNMR	$	45,540	$	16,174	$	(4,225)	$	57,489
Six Months Ended June 30, 2020
Electric operating revenues	$	508,921	$	182,350	$	—	$	691,271
Cost of energy	142,408		50,165		—		192,573
Utility margin	366,513		132,185		—		498,698
Other operating expenses	200,113		50,461		(9,759)		240,815
Depreciation and amortization	83,212		44,204		11,579		138,995
Operating income (loss)	83,188		37,520		(1,820)		118,888
Interest income	6,643		—		(149)		6,494
Other income (deductions)	(13,072)		2,524		(755)		(11,303)
Interest charges	(36,807)		(14,533)		(10,182)		(61,522)
Segment earnings (loss) before income taxes	39,952		25,511		(12,906)		52,557
Income taxes (benefit)	2,536		2,245		(2,386)		2,395
Segment earnings (loss)	37,416		23,266		(10,520)		50,162
Valencia non-controlling interest	(7,669)		—		—		(7,669)
Subsidiary preferred stock dividends	(264)		—		—		(264)
Segment earnings (loss) attributable to PNMR	$	29,483	$	23,266	$	(10,520)	$	42,229
At June 30, 2020:
Total Assets	$	5,377,422	$	1,985,721	$	211,324	$	7,574,467
Goodwill	$	51,632	$	226,665	$	—	$	278,297

	PNM		TNMP		Corporate and Other		PNMR Consolidated
	(In thousands)
Three Months Ended June 30, 2019
Electric operating revenues	$	238,219	$	92,009	$	—	$	330,228
Cost of energy	58,866		24,916		—		83,782
Utility margin	179,353		67,093		—		246,446
Other operating expenses	255,519		24,013		(5,536)		273,996
Depreciation and amortization	39,811		20,502		5,752		66,065
Operating income (loss)	(115,977)		22,578		(216)		(93,615)
Interest income	3,530		—		(70)		3,460
Other income (deductions)	4,179		731		(78)		4,832
Interest charges	(18,526)		(6,560)		(4,705)		(29,791)
Segment earnings (loss) before income taxes	(126,794)		16,749		(5,069)		(115,114)
Income taxes (benefit)	(43,481)		1,482		(832)		(42,831)
Segment earnings (loss)	(83,313)		15,267		(4,237)		(72,283)
Valencia non-controlling interest	(3,499)		—		—		(3,499)
Subsidiary preferred stock dividends	(132)		—		—		(132)
Segment earnings (loss) attributable to PNMR	$	(86,944)	$	15,267	$	(4,237)	$	(75,914)
Three Months Ended June 30, 2019
Electric operating revenues	$	507,536	$	172,336	$	—	$	679,872
Cost of energy	158,204		47,204		—		205,408
Utility margin	349,332		125,132		—		474,464
Other operating expenses	361,981		49,253		(11,299)		399,935
Depreciation and amortization	79,036		40,716		11,669		131,421
Operating income (loss)	(91,685)		35,163		(370)		(56,892)
Interest income	7,187		—		(139)		7,048
Other income (deductions)	18,536		1,317		(814)		19,039
Interest charges	(36,886)		(15,361)		(9,178)		(61,425)
Segment earnings (loss) before income taxes	(102,848)		21,119		(10,501)		(92,230)
Income taxes (benefit)	(41,508)		1,754		(1,854)		(41,608)
Segment earnings (loss)	(61,340)		19,365		(8,647)		(50,622)
Valencia non-controlling interest	(6,328)		—		—		(6,328)
Subsidiary preferred stock dividends	(264)		—		—		(264)
Segment earnings (loss) attributable to PNMR	$	(67,932)	$	19,365	$	(8,647)	$	(57,214)
At June 30, 2019:
Total Assets	$	5,105,090	$	1,768,831	$	174,746	$	7,048,667
Goodwill	$	51,632	$	226,665	$	—	$	278,297