v3.26.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Financial Information by Segment The following tables present summarized financial information for TXNM by segment. PNM and TNMP each operate in only one segment. Therefore, tabular segment information is not presented for PNM and TNMP.
TXNM SEGMENT INFORMATION
PNMTNMPCorporate
and Other
TXNM
(In thousands)
Three Months Ended September 30, 2026
Electric operating revenues$527,828 $205,462 $— $733,290 
Cost of energy
Fuel burn25,803 — — 25,803 
Purchases for resale119,327 — — 119,327 
Transmission by others8,234 45,142 — 53,376 
Significant segment expenses
Administrative and general - direct24,990 (1,669)36,783 60,104 
Administrative and general - corporate allocation31,547 13,597 (45,144)— 
Customer related expenses7,903 864 — 8,767 
Energy production costs23,255 — — 23,255 
Depreciation and amortization67,009 36,215 9,122 112,346 
Transmission and distribution costs17,507 10,719 — 28,226 
Taxes other than income taxes15,454 14,011 1,533 30,998 
Total operating expenses341,029 118,879 2,294 462,202 
Net other income and (deductions)(3,666)4,398 (384)348 
Interest charges(34,026)(23,280)(18,753)(76,059)
Income taxes (benefit)17,596 13,672 (3,892)27,376 
Valencia non-controlling interest(4,440)— — (4,440)
Subsidiary preferred stock dividends(132)— — (132)
Segment earnings (loss) attributable to TXNM$126,939 $54,029 $(17,539)$163,429 
Nine Months Ended September 30, 2026
Electric operating revenues$1,218,955 $567,871 $— $1,786,826 
Cost of energy
Fuel burn86,108 — — 86,108 
Purchases for resale287,368 — — 287,368 
Transmission by others23,134 132,527 — 155,661 
Significant segment expenses
Administrative and general - direct63,963 (2,698)112,601 173,866 
Administrative and general - corporate allocation97,275 41,833 (139,108)— 
Customer related expenses24,261 2,525 — 26,786 
Energy production costs72,998 — — 72,998 
Depreciation and amortization196,429 114,351 28,520 339,300 
Transmission and distribution costs50,823 28,667 — 79,490 
Taxes other than income taxes48,673 39,861 5,314 93,848 
Total operating expenses951,032 357,066 7,327 1,315,425 
Net other income and (deductions)22,511 11,986 (862)33,635 
Interest charges(99,390)(66,711)(47,896)(213,997)
Income taxes (benefit)21,255 31,427 (13,039)39,643 
Valencia non-controlling interest(12,570)— — (12,570)
Subsidiary preferred stock dividends(396)— — (396)
Segment earnings (loss) attributable to TXNM$156,823 $124,653 $(43,046)$238,430 
At September 30, 2026:
Total Assets$8,022,581 $4,608,874 $192,655 $12,824,110 
Goodwill$51,632 $226,665 $— $278,297 
PNMTNMPCorporate
and Other
TXNM
(In thousands)
Three Months Ended September 30, 2025
Electric operating revenues$463,720 $183,442 $— $647,162 
Cost of energy
Fuel burn26,312 — — 26,312 
Purchases for resale119,834 — — 119,834 
Transmission by others6,707 42,189 — 48,896 
Significant segment expenses
Administrative and general - direct22,764 969 36,167 59,900 
Administrative and general - corporate allocation30,865 12,136 (43,001)— 
Customer related expenses7,792 753 — 8,545 
Energy production costs21,172 — — 21,172 
Regulatory disallowances(731)— — (731)
Depreciation and amortization61,366 34,956 8,690 105,012 
Transmission and distribution costs18,127 9,040 — 27,167 
Taxes other than income taxes14,111 12,659 1,415 28,185 
Total operating expenses328,319 112,702 3,271 444,292 
Net other income and (deductions)17,334 5,623 (425)22,532 
Interest charges(33,805)(24,754)(11,590)(70,149)
Income taxes (benefit)10,907 10,479 (2,437)18,949 
Valencia non-controlling interest(5,462)— — (5,462)
Subsidiary preferred stock dividends(132)— — (132)
Segment earnings (loss) attributable to TXNM$102,429 $41,130 $(12,849)$130,710 
Nine Months Ended September 30, 2025
Electric operating revenues$1,135,472 $496,902 $— $1,632,374 
Cost of energy
Fuel burn82,780 — — 82,780 
Purchases for resale305,939 — — 305,939 
Transmission by others19,424 123,703 — 143,127 
Significant segment expenses
Administrative and general - direct57,233 (948)123,646 179,931 
Administrative and general - corporate allocation98,270 39,621 (137,891)— 
Customer related expenses23,054 2,220 — 25,274 
Energy production costs71,799 — — 71,799 
Regulatory disallowances(731)— — (731)
Depreciation and amortization181,947 105,095 27,756 314,798 
Transmission and distribution costs49,703 29,430 — 79,133 
Taxes other than income taxes42,676 35,607 4,581 82,864 
Total operating expenses932,094 334,728 18,092 1,284,914 
Net other income and (deductions)47,139 9,723 (2,202)54,660 
Interest charges(95,596)(66,018)(44,099)(205,713)
Income taxes (benefit)13,280 21,498 (13,485)21,293 
Valencia non-controlling interest(13,509)— — (13,509)
Subsidiary preferred stock dividends(396)— — (396)
Segment earnings (loss) attributable to TXNM$127,736 $84,381 $(50,908)$161,209 
At September 30, 2025:
Total Assets$7,793,306 $4,013,441 $164,787 $11,971,534 
Goodwill$51,632 $226,665 $— $278,297