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Pension and Other Postretirement Benefit Plans | 6 Months Ended
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Jun. 30, 2013
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. Additional information concerning pension and OPEB plans is contained in Note 12 of the Notes to Consolidated Financial Statements in the 2012 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
| 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012
| (In thousands)
Components of Net Periodic |  |  |  |  |  |  |  |  |  |  |
Benefit Cost |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | 65 |  |  | $ | 54 |  |  | $ | — |  |  | $ | — |
Interest cost | 7,035 |  |  | 8,058 |  |  | 1,029 |  |  | 1,324 |  |  | 180 |  |  | 219 |
Expected return on plan assets | (10,482 | ) |  | (10,325 | ) |  | (1,261 | ) |  | (1,225 | ) |  | — |  |  | — |
Amortization of net (gain) loss | 3,710 |  |  | 2,629 |  |  | 1,061 |  |  | 972 |  |  | 58 |  |  | 21 |
Amortization of prior service cost | 19 |  |  | 79 |  |  | (336 | ) |  | (336 | ) |  | — |  |  | — |
Net periodic benefit cost | $ | 282 |  |  | $ | 441 |  |  | $ | 558 |  |  | $ | 789 |  |  | $ | 238 |  |  | $ | 240 |
| Six Months Ended June 30,
| Pension Plan |  | OPEB Plan |  | Executive Retirement Program
| 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012
| (In thousands)
Components of Net Periodic |  |  |  |  |  |  |  |  |  |  |
Benefit Cost |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | 130 |  |  | $ | 108 |  |  | $ | — |  |  | $ | — |
Interest cost | 14,071 |  |  | 16,116 |  |  | 2,057 |  |  | 2,648 |  |  | 360 |  |  | 438 |
Expected return on plan assets | (20,965 | ) |  | (20,650 | ) |  | (2,522 | ) |  | (2,450 | ) |  | — |  |  | — |
Amortization of net (gain) loss | 7,420 |  |  | 5,258 |  |  | 2,121 |  |  | 1,944 |  |  | 116 |  |  | 42 |
Amortization of prior service cost | 38 |  |  | 158 |  |  | (672 | ) |  | (672 | ) |  | — |  |  | — |
Net periodic benefit cost | $ | 564 |  |  | $ | 882 |  |  | $ | 1,114 |  |  | $ | 1,578 |  |  | $ | 476 |  |  | $ | 480 |
PNM made contributions to its pension plan trust of zero and $60.0 million in the three and six months ended June 30, 2013 and zero and $77.7 million in the three and six months ended June 30, 2012. PNM does not anticipate making additional contributions to its pension trust in 2013. Based on current law, including recent amendments to funding requirements, and estimates of portfolio performance, PNM estimates minimum required contributions for its pension plan trust would total $49.1 million for 2014-2017. Minimum required contributions were developed using current funding assumptions, including discount rates of 4.8% to 5.2%. Actual amounts required to be funded in the future will depend on the actuarial assumptions at that time, including the appropriate discount rate. PNM may make additional contributions at its discretion. PNM made contributions to the OPEB trust of $1.1 million and $1.6 million in the three and six months ended June 30, 2013 and $0.8 million and $1.6 million in the three and six months ended June 30, 2012. PNM expects contributions during 2013 to the OPEB trust to total $3.3 million. Disbursements under the executive retirement program, which are funded by PNM and considered to be contributions to the plan, were $0.4 million and $0.8 million in the three and six months ended June 30, 2013 and $0.3 million and $0.7 million in the three and six months ended June 30, 2012 and are expected to total $1.5 million during 2013. 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
| 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012
| (In thousands)
Components of Net Periodic |  |  |  |  |  |  |  |  |  |  |
Benefit Cost (Income) |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | 75 |  |  | $ | 61 |  |  | $ | — |  |  | $ | — |
Interest cost | 772 |  |  | 909 |  |  | 141 |  |  | 156 |  |  | 9 |  |  | 11 |
Expected return on plan assets | (1,212 | ) |  | (1,331 | ) |  | (126 | ) |  | (129 | ) |  | — |  |  | — |
Amortization of net (gain) loss | 262 |  |  | 115 |  |  | — |  |  | (52 | ) |  | — |  |  | — |
Amortization of prior service cost | — |  |  | — |  |  | 14 |  |  | 14 |  |  | — |  |  | — |
Net Periodic Benefit Cost (Income) | $ | (178 | ) |  | $ | (307 | ) |  | $ | 104 |  |  | $ | 50 |  |  | $ | 9 |  |  | $ | 11 |
| Six Months Ended June 30,
| Pension Plan |  | OPEB Plan |  | Executive Retirement Program
| 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012
| (In thousands)
Components of Net Periodic |  |  |  |  |  |  |  |  |  |  |
Benefit Cost (Income) |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | 150 |  |  | $ | 122 |  |  | $ | — |  |  | $ | — |
Interest cost | 1,544 |  |  | 1,818 |  |  | 283 |  |  | 312 |  |  | 18 |  |  | 22 |
Expected return on plan assets | (2,425 | ) |  | (2,662 | ) |  | (252 | ) |  | (258 | ) |  | — |  |  | — |
Amortization of net (gain) loss | 524 |  |  | 230 |  |  | — |  |  | (104 | ) |  | — |  |  | — |
Amortization of prior service cost | — |  |  | — |  |  | 28 |  |  | 28 |  |  | — |  |  | — |
Net Periodic Benefit Cost (Income) | $ | (357 | ) |  | $ | (614 | ) |  | $ | 209 |  |  | $ | 100 |  |  | $ | 18 |  |  | $ | 22 |
TNMP made contributions to its pension plan trust of zero and $1.0 million in the three and six months ended June 30, 2013 and zero and $5.3 million in the three and six months ended June 30, 2012. TNMP does not anticipate making additional contributions to its pension trust in 2013. Based on current law, including recent amendments to funding requirements, and estimates of portfolio performance, TNMP estimates there would be no minimum required contributions to its pension plan trust for 2014-2017. Minimum required contributions were developed using current funding assumptions, including discount rates of 4.8% and 5.2%. Actual amounts to be funded in the future will depend on the actuarial assumptions at that time, including the appropriate discount rate. TNMP may make additional contributions at its discretion. TNMP made contributions to the OPEB trust of $0.3 million in the three and six months ended June 30, 2013 and zero and $0.3 million in the three and six months ended June 30, 2012. TNMP does not anticipate making additional contributions to the OPEB trust in 2013. Disbursements under the executive retirement program, which are funded by TNMP and considered to be contributions to the plan, were less than $0.1 million in the three and six months ended June 30, 2013 and 2012 and are expected to total $0.1 million during 2013.

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