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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Taxes [Line Items]

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

PNMR’s income taxes consist of the following components:

	Year Ended December 31,
	2013				2012				2011
	(In thousands)
Current federal income tax	$	—			$	(1,296	)		$	1,319
Current state income tax	(917		)		(37		)		(4,208		)
Deferred federal income tax	50,044				51,559				119,280
Deferred state income tax	12,578				6,921				7,462
Amortization of accumulated investment tax credits	(2,192		)		(2,237		)		(2,318		)
Total income taxes	$	59,513			$	54,910			$	121,535

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,
	2013				2012				2011
	(In thousands)
Federal income tax at statutory rates	$	61,274			$	61,262			$	109,364
First Choice goodwill	—				—				15,055
Amortization of accumulated investment tax credits	(2,192		)		(2,237		)		(2,318		)
Flow-through of depreciation items	1,132				1,284				3,659
Earnings attributable to non-controlling interest in Valencia	(5,082		)		(4,918		)		(4,917		)
State income tax, net of federal benefit	3,818				4,646				3,395
Impairment of state production tax credits, net of federal benefit	3,880				718				—
Other	(3,317		)		(5,845		)		(2,703		)
Total income taxes	$	59,513			$	54,910			$	121,535
Effective tax rate	33.99		%		31.37		%		38.90		%

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

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

	December 31,
	2013				2012
	(In thousands)
Deferred tax assets:
Net operating loss	$	134,418			$	110,989
Pension	—				26,452
Regulatory liabilities related to income taxes	83,838				53,439
Other	144,126				129,801
Total deferred tax assets	362,382				320,681
Deferred tax liabilities:
Depreciation and plant related	(814,671		)		(759,587		)
Investment tax credit	(25,855		)		(14,242		)
Regulatory assets related to income taxes	(66,352		)		(59,471		)
CTC	(22,262		)		(24,934		)
Pension	(58,780		)		—
Other	(143,044		)		(178,492		)
Total deferred tax liabilities	(1,130,964		)		(1,036,726		)
Net accumulated deferred income tax liabilities	(768,582		)		(716,045		)
Current accumulated deferred income tax (asset) liability	(58,681		)		258
Non-current accumulated deferred income tax liability	$	(827,263	)		$	(715,787	)

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, 2013
	(In thousands)
Net change in deferred income tax liability per above table	$	52,537
Change in tax effects of income tax related regulatory assets and liabilities	23,592
Tax effect of mark-to-market adjustments	(6,096		)
Tax effect of excess pension liability	(9,305		)
Adjustment for uncertain income tax positions	691
Other	(989		)
Deferred income taxes	$	60,430

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, 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
Reductions based on tax positions related to 2013	(54		)		(54		)		—
Additions for tax positions of prior years	745				745				—
Settlements	—				—				—
Balance at December 31, 2013	$	19,889			$	11,073			$	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)
2013	$	242			$	251			$	(2	)
2012	$	243			$	244			$	(3	)
2011	$	467			$	401			$	2

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, 2013:
Accumulated accrued interest receivable	$	4,048			$	4,048			$	—
Accumulated accrued interest payable	$	(1,118	)		$	(24	)		$	(118	)
December 31, 2012:
Accumulated accrued interest receivable	$	3,796			$	3,796			$	—
Accumulated accrued interest payable	$	(1,108	)		$	(23	)		$	(116	)

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 consist of the following components:

	Year Ended December 31,
	2013				2012				2011
	(In thousands)
Current federal income tax	$	(479	)		$	(12,951	)		$	(46,364	)
Current state income tax	(760		)		(1,815		)		(6,776		)
Deferred federal income tax	42,806				56,194				78,673
Deferred state income tax	9,429				11,522				14,212
Amortization of accumulated investment tax credits	(2,192		)		(2,237		)		(2,318		)
Total income taxes	$	48,804			$	50,713			$	37,427

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

The differences are attributable to the following factors:

	Year Ended December 31,
	2013				2012				2011
	(In thousands)
Federal income tax at statutory rates	$	53,018			$	54,710			$	37,088
Amortization of accumulated investment tax credits	(2,192		)		(2,237		)		(2,318		)
Flow-through of depreciation items	1,115				1,268				3,656
Earnings attributable to non-controlling interest in Valencia	(5,082		)		(4,918		)		(4,917		)
State income tax, net of federal benefit	6,202				6,500				4,797
Other	(4,257		)		(4,610		)		(879		)
Total income taxes	$	48,804			$	50,713			$	37,427
Effective tax rate	32.22		%		32.44		%		35.32		%

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

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

	December 31,
	2013				2012
	(In thousands)
Deferred tax assets:
Net operating loss	$	99,247			$	93,980
Pension	—				32,532
Regulatory liabilities related to income taxes	78,849				48,027
Other	67,179				55,629
Total deferred tax assets	245,275				230,168
Deferred tax liabilities:
Depreciation and plant related	(661,239		)		(624,724		)
Investment tax credit	(25,855		)		(14,242		)
Regulatory assets related to income taxes	(55,844		)		(48,726		)
Pension	(52,104		)		—
Other	(83,500		)		(134,046		)
Total deferred tax liabilities	(878,542		)		(821,738		)
Net accumulated deferred income tax liabilities	(633,267		)		(591,570		)
Current accumulated deferred income tax (asset) liability	(43,827		)		3,447
Non-current accumulated deferred income tax liability	$	(677,094	)		$	(588,123	)

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, 2013
	(In thousands)
Net change in deferred income tax liability per above table	$	41,697
Change in tax effects of income tax related regulatory assets and liabilities	23,704
Tax effect of mark-to-market adjustments	(6,121		)
Tax effect of excess pension liability	(9,305		)
Adjustment for uncertain income tax positions	691
Other	(623		)
Deferred income taxes	$	50,043

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,
	2013				2012				2011
	(In thousands)
Current federal income tax	$	(4,957	)		$	9,152			$	(3,578	)
Current state income tax	1,916				1,822				1,981
Deferred federal income tax	20,688				4,406				15,507
Deferred state income tax	(26		)		(28		)		(29		)
Total income taxes	$	17,621			$	15,352			$	13,881

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

The differences are attributable to the following factors:

	Year Ended December 31,
	2013				2012				2011
	(In thousands)
Federal income tax at statutory rates	$	16,349			$	14,735			$	12,648
State income tax, net of federal benefit	1,247				1,185				1,288
Other	25				(568		)		(55		)
Total income taxes	$	17,621			$	15,352			$	13,881
Effective tax rate	37.72		%		36.47		%		38.41		%

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,
	2013				2012
	(In thousands)
Deferred tax assets:
Regulatory liabilities related to income taxes	$	4,988			$	5,412
Other	23,479				16,702
Total deferred tax assets	28,467				22,114
Deferred tax liabilities:
Depreciation and plant related	(151,581		)		(133,686		)
CTC	(22,262		)		(24,934		)
Regulatory assets related to income taxes	(10,509		)		(10,745		)
Loss on reacquired debt	(13,516		)		(599		)
Other	(14,295		)		(14,729		)
Total deferred tax liabilities	(212,163		)		(184,693		)
Net accumulated deferred income tax liabilities	(183,696		)		(162,579		)
Current accumulated deferred income tax (asset)	(6,501		)		(1,131		)
Non-current accumulated deferred income tax liability	$	(190,197	)		$	(163,710	)

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, 2013
	(In thousands)
Net change in deferred income tax liability per above table	$	21,117
Change in tax effects of income tax related regulatory assets and liabilities	(112		)
Other	(343		)
Deferred income taxes	$	20,662

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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.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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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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