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Pension and Other Postretirement Benefit Plans | 6 Months Ended
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Jun. 30, 2012
Compensation and Retirement Disclosure [Abstract] |
Pension and Other Postretirement Benefit Plans | Pension and Other Postretirement Benefit Plans PNMR and its subsidiaries maintain qualified defined benefit pension plans, postretirement benefit plans providing medical and dental benefits, and executive retirement programs (“PNM Plans” and “TNMP Plans”). PNMR maintains the legal obligation for the benefits owed to participants under these plans. Information concerning pension and OPEB plans is contained in Note 12 of the Notes to Consolidated Financial Statements in the 2011 Annual Reports on Form 10-K. Annual net periodic benefit cost (income) for the plans is actuarially determined using the methods and assumptions set forth in that note and is recognized ratably throughout the year. PNM Plans The following tables present the components of the PNM Plans’ net periodic benefit cost:
| Three Months Ended June 30,
| Pension Plan |  | OPEB Plan |  | Executive Retirement Program
| 2012 |  | 2011 |  | 2012 |  | 2011 |  | 2012 |  | 2011
| (In thousands)
Components of Net Periodic |  |  |  |  |  |  |  |  |  |  |
Benefit Cost |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | 54 |  |  | $ | 65 |  |  | $ | — |  |  | $ | — |
Interest cost | 8,058 |  |  | 8,202 |  |  | 1,324 |  |  | 1,345 |  |  | 219 |  |  | 233 |
Long-term return on plan assets | (10,325 | ) |  | (9,269 | ) |  | (1,225 | ) |  | (1,347 | ) |  | — |  |  | — |
Amortization of net loss | 2,629 |  |  | 2,302 |  |  | 972 |  |  | 801 |  |  | 21 |  |  | 23 |
Amortization of prior service cost | 79 |  |  | 79 |  |  | (336 | ) |  | (662 | ) |  | — |  |  | — |
Net periodic benefit cost | $ | 441 |  |  | $ | 1,314 |  |  | $ | 789 |  |  | $ | 202 |  |  | $ | 240 |  |  | $ | 256 |
| Six Months Ended June 30,
| Pension Plan |  | Other Postretirement Benefits |  | Executive Retirement Program
| 2012 |  | 2011 |  | 2012 |  | 2011 |  | 2012 |  | 2011
|  |  |  |  | (In thousands) |  |  |  |
Components of Net Periodic |  |  |  |  |  |  |  |  |  |  |
Benefit Cost |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | 108 |  |  | $ | 129 |  |  | $ | — |  |  | $ | — |
Interest cost | 16,116 |  |  | 16,402 |  |  | 2,648 |  |  | 2,689 |  |  | 438 |  |  | 465 |
Long-term return on plan assets | (20,650 | ) |  | (18,537 | ) |  | (2,450 | ) |  | (2,694 | ) |  | — |  |  | — |
Amortization of net loss | 5,258 |  |  | 4,605 |  |  | 1,944 |  |  | 1,603 |  |  | 42 |  |  | 47 |
Amortization of prior service cost | 158 |  |  | 158 |  |  | (672 | ) |  | (1,324 | ) |  | — |  |  | — |
Net periodic benefit cost | $ | 882 |  |  | $ | 2,628 |  |  | $ | 1,578 |  |  | $ | 403 |  |  | $ | 480 |  |  | $ | 512 |
PNM made contributions to its pension plan trust of zero and $77.7 million in the three and six months ended June 30, 2012 and $7.5 million and $13.5 million in the three and six months ended June 30, 2011. PNM does not anticipate making additional contributions in 2012. Based on current law and estimates of portfolio performance, PNM estimates making contributions to its pension plan trust that total $85.3 million for 2013-2016. These anticipated contributions were developed using current funding assumptions with a discount rate of 5.3%. Actual amounts to be funded in the future will be dependent on the actuarial assumptions at that time, including the appropriate discount rate. PNM made contributions to the OPEB trust of $0.8 million and $1.6 million in the three and six months ended June 30, 2012 and $1.2 million in the three and six months ended June 30, 2011. PNM expects contributions during 2012 to the OPEB trust to total $3.2 million. Disbursements under the executive retirement program, which are funded by the Company and considered to be contributions to the plan, were $0.3 million and $0.7 million in the three and six months ended June 30, 2012 and $0.4 million and $0.8 million in the three and six months ended June 30, 2011 and are expected to total $1.5 million during 2012. TNMP Plans The following tables present the components of the TNMP Plans’ net periodic benefit cost (income):
| Three Months Ended June 30,
| Pension Plan |  | OPEB Plan |  | Executive Retirement Program
| 2012 |  | 2011 |  | 2012 |  | 2011 |  | 2012 |  | 2011
|  |  |  |  | (In thousands) |  |  |  |
Components of Net Periodic |  |  |  |  |  |  |  |  |  |  |
Benefit Cost (Income) |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | 61 |  |  | $ | 77 |  |  | $ | — |  |  | $ | — |
Interest cost | 909 |  |  | 951 |  |  | 156 |  |  | 163 |  |  | 11 |  |  | 12 |
Long-term return on plan assets | (1,331 | ) |  | (1,368 | ) |  | (129 | ) |  | (133 | ) |  | — |  |  | — |
Amortization of net (gain) loss | 115 |  |  | 86 |  |  | (52 | ) |  | (48 | ) |  | — |  |  | — |
Amortization of prior service cost | — |  |  | — |  |  | 14 |  |  | 15 |  |  | — |  |  | — |
Net Periodic Benefit Cost (Income) | $ | (307 | ) |  | $ | (331 | ) |  | $ | 50 |  |  | $ | 74 |  |  | $ | 11 |  |  | $ | 12 |
| Six Months Ended June 30,
| Pension Plan |  | Other Postretirement Benefits |  | Executive Retirement Program
| 2012 |  | 2011 |  | 2012 |  | 2011 |  | 2012 |  | 2011
|  |  |  |  | (In thousands) |  |  |  |
Components of Net Periodic |  |  |  |  |  |  |  |  |  |  |
Benefit Cost (Income) |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | 122 |  |  | $ | 153 |  |  | $ | — |  |  | $ | — |
Interest cost | 1,818 |  |  | 1,900 |  |  | 312 |  |  | 327 |  |  | 22 |  |  | 23 |
Long-term return on plan assets | (2,662 | ) |  | (2,735 | ) |  | (258 | ) |  | (267 | ) |  | — |  |  | — |
Amortization of net (gain) loss | 230 |  |  | 173 |  |  | (104 | ) |  | (96 | ) |  | — |  |  | — |
Amortization of prior service cost | — |  |  | — |  |  | 28 |  |  | 30 |  |  | — |  |  | — |
Net Periodic Benefit Cost (Income) | $ | (614 | ) |  | $ | (662 | ) |  | $ | 100 |  |  | $ | 147 |  |  | $ | 22 |  |  | $ | 23 |
TNMP made contributions to its pension plan trust of zero and $5.3 million in the three and six months ended June 30, 2012 and $0.1 million and $0.2 million in the three and six months ended June 30, 2011. TNMP does not anticipate making additional contributions in 2012. Based on current law and estimates of portfolio performance, TNMP estimates making contributions to its pension plan trust that total $1.8 million for 2013-2016. These anticipated contributions were developed using current funding assumptions with a discount rate of 5.3%. Actual amounts to be funded in the future will be dependent on the actuarial assumptions at that time, including the appropriate discount rate. TNMP made contributions to the OPEB trust of zero and $0.3 million in the three and six months ended June 30, 2012 and $0.4 million in the three and six months ended June 30, 2011. TNMP does not expect to make additional contributions during 2012 to the OPEB trust. Disbursements under the executive retirement program, which are funded by the Company and considered to be contributions to the plan, were less than $0.1 million in the three and six months ended June 30, 2012 and 2011 and are expected to total $0.1 million during 2012.

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