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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Line Items]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

PNMR’s income taxes (benefit) consist of the following components:

	Year Ended December 31,
	2012				2011				2010
	(In thousands)
Current federal income tax	$	(1,296	)		$	1,319			$	(52,184	)
Current state income tax	(37		)		(4,208		)		(15,528		)
Deferred federal income tax	50,851				119,280				28,364
Deferred state income tax	6,921				7,462				9,522
Investment tax credit earned and deferred	708				—				—
Amortization of accumulated investment tax credits	(2,237		)		(2,318		)		(2,429		)
Total income taxes (benefit)	$	54,910			$	121,535			$	(32,255	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

PNMR’s provision for income taxes differed from the federal income tax computed at the statutory rate for each of the years shown. The differences are attributable to the following factors:

	Year Ended December 31,
	2012				2011				2010
	(In thousands)
Federal income tax at statutory rates	$	61,262			$	109,364			$	(22,183	)
First Choice goodwill	—				15,055				—
Investment tax credits	(2,237		)		(2,318		)		(2,429		)
Flow-through of depreciation items	1,284				3,659				3,995
Earnings attributable to non-controlling interest in Valencia	(4,918		)		(4,917		)		(4,747		)
State income tax	4,646				3,395				(6,312		)
Other	(5,127		)		(2,703		)		(579		)
Total income taxes (benefit)	$	54,910			$	121,535			$	(32,255	)
Effective tax rate	31.37		%		38.90		%		50.89		%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of PNMR’s net accumulated deferred income tax liability were:

	December 31,
	2012				2011
	(In thousands)
Deferred tax assets:
Net operating loss	$	110,989			$	86,985
Pension	26,452				50,515
Regulatory liabilities related to income taxes	53,439				49,413
Other	129,801				109,875
Total deferred tax assets	320,681				296,788
Deferred tax liabilities:
Depreciation and plant related	(759,587		)		(697,528		)
Investment tax credit	(14,242		)		(15,771		)
Regulatory assets related to income taxes	(59,471		)		(56,312		)
Stranded costs	(24,934		)		(28,439		)
Other	(178,492		)		(168,688		)
Total deferred tax liabilities	(1,036,726		)		(966,738		)
Net accumulated deferred income tax liabilities	(716,045		)		(669,950		)
Current accumulated deferred income tax (asset) liability	258				9,080
Non-current accumulated deferred income tax liability	$	(715,787	)		$	(660,870	)

Schedule of Deferred Income Tax Components [Table Text Block]

The following table reconciles the change in PNMR’s net accumulated deferred income tax liability to the deferred income tax benefit included in the Consolidated Statement of Earnings:

	Year Ended
	December 31, 2012
	(In thousands)
Net change in deferred income tax liability per above table	$	46,095
Change in tax effects of income tax related regulatory assets and liabilities	942
Tax effect of mark-to-market adjustments	(570		)
Tax effect of excess pension liability	10,085
Adjustment for uncertain income tax positions	(381		)
Other	72
Deferred income taxes	$	56,243

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of unrecognized tax benefits (expenses) is as follows:

	PNMR				PNM				TNMP
	(In thousands)
Balance at December 31, 2009	$	22,591			$	(218	)		$	6,796
Additions based on tax positions related to 2010	13,514				12,136				992
Reductions for tax positions of prior years	—				—				—
Settlements	—				—				—
Balance at December 31, 2010	36,105				11,918				7,788
Additions based on tax positions related to 2011	(790		)		(717		)		(74		)
Reductions for tax positions of prior years	(15,735		)		(449		)		(13		)
Settlements	—				—				—
Balance at December 31, 2011	19,580				10,752				7,701
Additions based on tax positions related to 2012	2,046				1,152				—
Reductions for tax positions of prior years	(2,428		)		(1,522		)		(905		)
Settlements	—				—				—
Balance at December 31, 2012	$	19,198			$	10,382			$	6,796

Interest Income (Expense) Related to Income Taxes [Table Text Block]

Interest income (expense) related to income taxes is as follows:

	PNMR				PNM				TNMP
	(In thousands)
2012	$	243			$	244			$	(3	)
2011	$	467			$	401			$	2
2010	$	397			$	465			$	(8	)

Accumulated Accrued Interest Receivable (Payable) Related to Income Taxes [Table Text Block]

Accumulated accrued interest receivable (payable) related to income taxes is as follows:

	PNMR				PNM				TNMP
	(In thousands)
December 31, 2012:
Accumulated accrued interest receivable	$	3,796			$	3,796			$	—
Accumulated accrued interest payable	$	(1,108	)		$	(23	)		$	(116	)
December 31, 2011:
Accumulated accrued interest receivable	$	3,552			$	3,552			$	—
Accumulated accrued interest payable	$	(1,107	)		$	(23	)		$	(113	)

Public Service Company of New Mexico [Member]

Income Taxes [Line Items]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

PNM’s income taxes (benefit) consist of the following components:

	Year Ended December 31,
	2012				2011				2010
	(In thousands)
Current federal income tax	$	(12,951	)		$	(46,364	)		$	(77,691	)
Current state income tax	(1,815		)		(6,776		)		438
Deferred federal income tax	55,486				78,673				109,170
Deferred state income tax	11,522				14,212				6,939
Investment tax credit earned and deferred	708				—				—
Amortization of accumulated investment tax credits	(2,237		)		(2,318		)		(2,429		)
Total income taxes	$	50,713			$	37,427			$	36,427

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The differences are attributable to the following factors:

	Year Ended December 31,
	2012				2011				2010
	(In thousands)
Federal income tax at statutory rates	$	54,710			$	37,088			$	37,551
Investment tax credits	(2,237		)		(2,318		)		(2,429		)
Flow-through of depreciation items	1,268				3,656				3,994
Earnings attributable to non-controlling interest in Valencia	(4,918		)		(4,917		)		(4,747		)
State income tax	6,500				4,797				4,747
Other	(4,610		)		(879		)		(2,689		)
Total income taxes	$	50,713			$	37,427			$	36,427
Effective tax rate	32.44		%		35.32		%		33.95		%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of PNM’s net accumulated deferred income tax liability were:

	December 31,
	2012				2011
	(In thousands)
Deferred tax assets:
Net operating loss	$	93,980			$	72,615
Pension	32,532				54,270
Regulatory liabilities related to income taxes	48,027				43,578
Other	55,629				47,263
Total deferred tax assets	230,168				217,726
Deferred tax liabilities:
Depreciation and plant related	(624,724		)		(570,278		)
Investment tax credit	(14,242		)		(15,771		)
Regulatory assets related to income taxes	(48,726		)		(45,331		)
Other	(134,046		)		(123,098		)
Total deferred tax liabilities	(821,738		)		(754,478		)
Net accumulated deferred income tax liabilities	(591,570		)		(536,752		)
Current accumulated deferred income tax liability	3,447				16,562
Non-current accumulated deferred income tax liability	$	(588,123	)		$	(520,190	)

Schedule of Deferred Income Tax Components [Table Text Block]

The following table reconciles the change in PNM’s net accumulated deferred income tax liability to the deferred income tax benefit included in the Consolidated Statement of Earnings:

	Year Ended
	December 31, 2012
	(In thousands)
Net change in deferred income tax liability per above table	$	54,818
Change in tax effects of income tax related regulatory assets and liabilities	1,054
Tax effect of mark-to-market adjustments	(506		)
Tax effect of excess pension liability	10,085
Adjustment for uncertain income tax positions	(370		)
Other	398
Deferred income taxes	$	65,479

Texas-New Mexico Power Company [Member]

Income Taxes [Line Items]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

TNMP’s income taxes consist of the following components:

	Year Ended December 31,
	2012				2011				2010
	(In thousands)
Current federal income tax	$	9,152			$	(3,578	)		$	3,532
Current state income tax	1,822				1,981				1,766
Deferred federal income tax	4,406				15,507				4,775
Deferred state income tax	(28		)		(29		)		(29		)
Total income taxes	$	15,352			$	13,881			$	10,044

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The differences are attributable to the following factors:

	Year Ended December 31,
	2012				2011				2010
	(In thousands)
Federal income tax at statutory rates	$	14,735			$	12,648			$	9,109
State income tax	1,185				1,288				1,148
Other	(568		)		(55		)		(213		)
Total income taxes	$	15,352			$	13,881			$	10,044
Effective tax rate	36.47		%		38.41		%		38.59		%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of TNMP’s net accumulated deferred income tax liability at December 31, were:

	December 31,
	2012				2011
	(In thousands)
Deferred tax assets:
Regulatory liabilities related to income taxes	$	5,412			$	5,835
Other	16,702				16,043
Total deferred tax assets	22,114				21,878
Deferred tax liabilities:
Depreciation and plant related	(133,686		)		(125,270		)
Stranded costs	(24,934		)		(28,439		)
Regulatory assets related to income taxes	(10,745		)		(10,981		)
Other	(15,328		)		(14,113		)
Total deferred tax liabilities	(184,693		)		(178,803		)
Net accumulated deferred income tax liabilities	(162,579		)		(156,925		)
Current accumulated deferred income tax (asset)	(1,131		)		(2,272		)
Non-current accumulated deferred income tax liability	$	(163,710	)		$	(159,197	)

Schedule of Deferred Income Tax Components [Table Text Block]

The following table reconciles the change in TNMP’s net accumulated deferred income tax liability to the deferred income tax benefit included in the Consolidated Statement of Earnings:

	Year Ended
	December 31, 2012
	(In thousands)
Net change in deferred income tax liability per above table	$	5,654
Change in tax effects of income tax related regulatory assets and liabilities	(112		)
Adjustments for uncertain income tax positions	(905		)
Other	(259		)
Deferred income taxes	$	4,378

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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