v3.26.3
Variable Interest Entities - Schedule of Operations for Valencia (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2025
Results of Operations          
Operating revenues $ 733,290 $ 647,162 $ 1,786,826 $ 1,632,374  
Operating expenses 462,202 444,292 1,315,425 1,284,914  
Earnings attributable to non-controlling interest 4,440 5,462 12,570 13,509  
Financial Position          
Current assets 759,491   759,491   $ 564,662
Net property, plant, and equipment 9,885,507   9,885,507   9,311,435
Total assets 12,824,110 11,971,534 12,824,110 11,971,534 12,059,285
Current liabilities 941,421   941,421   1,017,537
Owners’ Equity – Non-controlling Interest 48,117   48,117   43,988
Public Service Company of New Mexico          
Results of Operations          
Operating revenues 527,828 463,720 1,218,955 1,135,472  
Operating expenses 341,029 328,319 951,032 932,094  
Earnings attributable to non-controlling interest 4,440 5,462 12,570 13,509  
Financial Position          
Current assets 482,426   482,426   413,140
Net property, plant, and equipment 5,800,873   5,800,873   5,506,798
Total assets 8,022,581   8,022,581   7,688,132
Current liabilities 506,432   506,432   788,309
Owners’ Equity – Non-controlling Interest 48,117   48,117   43,988
Valencia | Public Service Company of New Mexico          
Results of Operations          
Operating revenues 6,777 6,825 18,558 18,173  
Operating expenses 2,337 1,363 5,988 4,664  
Earnings attributable to non-controlling interest 4,440 $ 5,462 12,570 $ 13,509  
Financial Position          
Current assets 4,719   4,719   3,205
Net property, plant, and equipment 44,417   44,417   41,570
Total assets 49,136   49,136   44,775
Current liabilities 1,019   1,019   787
Owners’ Equity – Non-controlling Interest $ 48,117   $ 48,117   $ 43,988