v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - PUBLIC SERVICE COMPANY OF NEW MEXICO AND SUBSIDIARIES - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Electric Operating Revenues $ 733,290 $ 647,162 $ 1,786,826 $ 1,632,374
Operating Expenses:        
Administrative and general 68,871 68,445 200,652 205,205
Regulatory disallowances 0 (731) 0 (731)
Depreciation and amortization 112,346 105,012 339,300 314,798
Transmission and distribution costs 28,226 27,167 79,490 79,133
Taxes other than income taxes 30,998 28,185 93,848 82,864
Total operating expenses 462,202 444,292 1,315,425 1,284,914
Total operating expenses 271,088 202,870 471,401 347,460
Other Income and Deductions:        
Interest income 6,114 6,496 13,860 14,615
Gains (losses) on investment securities (9,890) 11,376 5,580 33,691
Other income 9,269 7,688 24,237 18,121
Other (deductions) (5,145) (3,028) (10,042) (11,767)
Net other income and deductions 348 22,532 33,635 54,660
Interest Charges 76,059 70,149 213,997 205,713
Earnings before Income Taxes 195,377 155,253 291,039 196,407
Income Taxes 27,376 18,949 39,643 21,293
Net Earnings 168,001 136,304 251,396 175,114
(Earnings) Attributable to Valencia Non-controlling Interest (4,440) (5,462) (12,570) (13,509)
Preferred Stock Dividend Requirements (132) (132) (396) (396)
Net earnings (losses) available for common stock 163,429 130,710 238,430 161,209
Electric operating revenues        
Electric Operating Revenues 733,290 647,162 1,786,826 1,632,374
Operating Expenses:        
Energy costs 198,506 195,042 529,137 531,846
Energy production costs        
Operating Expenses:        
Energy costs 23,255 21,172 72,998 71,799
PNM        
Electric Operating Revenues 527,828 463,720 1,218,955 1,135,472
Operating Expenses:        
Administrative and general 64,440 61,421 185,499 178,557
Regulatory disallowances 0 (731) 0 (731)
Depreciation and amortization 67,009 61,366 196,429 181,947
Transmission and distribution costs 17,507 18,127 50,823 49,703
Taxes other than income taxes 15,454 14,111 48,673 42,676
Total operating expenses 341,029 328,319 951,032 932,094
Total operating expenses 186,799 135,401 267,923 203,378
Other Income and Deductions:        
Interest income 4,435 4,271 11,846 12,217
Gains (losses) on investment securities (9,890) 11,376 5,580 33,691
Other income 4,176 3,761 11,436 9,124
Other (deductions) (2,387) (2,074) (6,351) (7,893)
Net other income and deductions (3,666) 17,334 22,511 47,139
Interest Charges 34,026 33,805 99,390 95,596
Earnings before Income Taxes 149,107 118,930 191,044 154,921
Income Taxes 17,596 10,907 21,255 13,280
Net Earnings 131,511 108,023 169,789 141,641
(Earnings) Attributable to Valencia Non-controlling Interest (4,440) (5,462) (12,570) (13,509)
Net Earnings 127,071 102,561 157,219 128,132
Preferred Stock Dividend Requirements (132) (132) (396) (396)
Net earnings (losses) available for common stock 126,939 102,429 156,823 127,736
PNM | Electric operating revenues        
Operating Expenses:        
Energy costs 153,364 152,853 396,610 408,143
PNM | Energy production costs        
Operating Expenses:        
Energy costs $ 23,255 $ 21,172 $ 72,998 $ 71,799