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Pension and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Plan Disclosure [Line Items]

Schedule of Defined Benefit Plans Disclosures

A reconciliation of the changes in Level 3 fair value measurements is as follows:

	Year Ended December 31,
	2014				2013
Level 3 Fair Value Assets and Liabilities	(In thousands)
PNM Pension	Master Trust				Master Trust
Balance at beginning of period	$	80,991			$	79,017
Actual return on assets sold during the period	10,376				3,303
Actual return on assets still held at period end	(5,731		)		3,361
Purchases	8,832				15,110
Sales	(28,843		)		(19,800		)
Balance at end of period	65,625				80,991
TNMP Pension
Balance at beginning of period	$	15,008			$	14,171
Actual return on assets sold during the period	3,409				1,400
Actual return on assets still held at period end	(1,883		)		1,425
Purchases	2,902				6,408
Sales	(9,477		)		(8,396		)
Balance at end of period	9,959				15,008
Total	$	75,584			$	95,999

Additional information concerning changes in Level 3 fair value measurements for the PNMR Master Trust is as follows:

Level 3 Fair Value Assets and Liabilities

PNMR Master Trust	Private equity funds				Hedge funds				Real estate funds				Fixed income - corporate				Total
					(In thousands)
Balance at December 31, 2012	$	38,212			$	31,277			$	23,699			$	—			$	93,188
Actual return on assets sold during the period	4,677				135				(109		)		1				4,704
Actual return on assets still held at period end	1,162				3,500				123				—				4,785
Purchases	3,117				16,151				2,076				175				21,519
Sales	(8,046		)		(16,151		)		(4,000		)		—				(28,197		)
Balance at December 31, 2013	39,122				34,912				21,789				176				95,999
Actual return on assets sold during the period	5,355				8,667				(236		)		—				13,786
Actual return on assets still held at period end	(296		)		(7,536		)		237				(20		)		(7,615		)
Purchases	3,656				5,500				1,971				608				11,735
Sales	(10,617		)		(17,667		)		(10,000		)		(37		)		(38,321		)
Balance at December 31, 2014	$	37,220			$	23,876			$	13,761			$	727			$	75,584

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

The following table shows the impact of a one-percentage-point change in assumed health care cost trend rates:

	PNM Plan
	1-Percentage- Point  Increase				1-Percentage- Point  Decrease
	(In thousands)
Effect on total of service and interest cost	$	350			$	(281	)
Effect on APBO	$	5,305			$	(4,622	)

Schedule of Net Funded Status

For the executive retirement programs, the following table presents information about the PBO and funded status of the plans:

	PNM Plan								TNMP Plan
	Year Ended December 31,								Year Ended December 31,
	2014				2013				2014				2013
	(In thousands)
PBO at beginning of year	$	16,363			$	17,467			$	823			$	902
Service cost	—				—				—				—
Interest cost	822				720				39				36
Actuarial (gain) loss	2,040				(330		)		110				(21		)
Benefits paid	(1,495		)		(1,494		)		(94		)		(94		)
PBO at end of year – funded status	17,730				16,363				878				823
Less current liability	1,528				1,536				94				94
Non-current liability	$	16,202			$	14,827			$	784			$	729

Schedule of Defined Contribution Plan Expenses

A summary of expenses for these other retirement plans is as follows:

	Year Ended December 31,
	2014				2013				2012
	(In thousands)
PNMR
401(k) plan	$	16,703			$	16,785			$	16,185
Non-qualified plan	$	2,257			$	2,204			$	1,491
PNM
401(k) plan	$	12,745			$	12,952			$	12,427
Non-qualified plan	$	1,722			$	1,691			$	1,143
TNMP
401(k) plan	$	3,958			$	3,953			$	3,739
Non-qualified plan	$	535			$	513			$	327

Pension Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Defined Benefit Plans Disclosures

The following table presents information about the PBO, fair value of plan assets, and funded status of the plans:

	PNM Plan								TNMP Plan
	Year Ended December 31,								Year Ended December 31,
	2014				2013				2014				2013
	(In thousands)
PBO at beginning of year	$	599,537			$	675,549			$	66,159			$	76,640
Service cost	—				—				—				—
Interest cost	30,163				28,142				3,193				3,087
Plan amendment	—				(6,346		)		—				—
Actuarial (gain) loss	72,524				(56,533		)		8,466				(7,820		)
Benefits paid	(44,667		)		(41,275		)		(5,513		)		(5,748		)
PBO at end of year	657,557				599,537				72,305				66,159
Fair value of plan assets at beginning of year	556,353				518,095				66,118				66,540
Actual return on plan assets	76,223				19,533				8,572				4,326
Employer contributions	—				60,000				—				1,000
Benefits paid	(44,667		)		(41,275		)		(5,513		)		(5,748		)
Fair value of plan assets at end of year	587,909				556,353				69,177				66,118
Funded status – asset (liability) for pension benefits	$	(69,648	)		$	(43,184	)		$	(3,128	)		$	(41	)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

The following table presents pre-tax information about prior service cost and net actuarial (gain) loss in AOCI as of December 31, 2014.

	PNM Plan								TNMP Plan
	December 31, 2014								December 31, 2014
	Prior service cost				Net actuarial (gain) loss				Net actuarial (gain) loss
	(In thousands)
Amounts in AOCI not yet recognized in net periodic benefit cost (income) at beginning of year	$	(2,665	)		$	139,256			$	—
Experience loss (gain)	—				34,345				4,420
Regulatory asset (liability) adjustment	—				(19,920		)		(4,420		)
Amortization recognized in net periodic benefit cost (income)	405				(5,469		)		—
Amounts in AOCI not yet recognized in net periodic benefit cost (income) at end of year	$	(2,260	)		$	148,212			$	—
Amortization expected to be recognized in 2015	$	(405	)		$	6,224			$	—

Schedule of Net Benefit Costs

The following table presents the components of net periodic benefit cost (income):

	Year Ended December 31,
	2014				2013				2012
	(In thousands)
PNM Plan
Service cost	$	—			$	—			$	—
Interest cost	30,163				28,142				32,232
Expected return on plan assets	(38,044		)		(41,930		)		(41,301		)
Amortization of net (gain) loss	13,020				14,840				10,516
Amortization of prior service cost	(965		)		76				317
Net periodic benefit cost	$	4,174			$	1,128			$	1,764
TNMP Plan
Service cost	$	—			$	—			$	—
Interest cost	3,193				3,087				3,635
Expected return on plan assets	(4,526		)		(4,849		)		(5,324		)
Amortization of net (gain) loss	665				1,049				462
Amortization of prior service cost	—				—				—
Net periodic benefit cost (income)	$	(668	)		$	(713	)		$	(1,227	)

Schedule of Assumptions Used

The following significant weighted-average assumptions were used to determine the PBO and net periodic benefit cost (income). Should actual experience differ from actuarial assumptions, the PBO and net periodic benefit cost (income) would be affected.

	Year Ended December 31,
PNM Plan	2014			2013			2012
Discount rate for determining December 31 PBO	4.48	%		5.27	%		4.30	%
Discount rate for determining net periodic benefit cost (income)	5.27	%		4.30	%		5.67	%
Expected return on plan assets	7.20	%		7.65	%		8.25	%
Rate of compensation increase	N/A			N/A			N/A
TNMP Plan
Discount rate for determining December 31 PBO	4.39	%		5.06	%		4.19	%
Discount rate for determining net periodic benefit cost (income)	5.06	%		4.19	%		5.69	%
Expected return on plan assets	7.20	%		7.65	%		8.25	%
Rate of compensation increase	N/A			N/A			N/A

Schedule of Expected Benefit Payments

The following pension benefit payments are expected to be paid:

	PNM Plan				TNMP Plan
	(In thousands)
2015	$	53,472			$	5,997
2016	53,468				5,667
2017	51,241				5,351
2018	49,640				5,585
2019	48,560				5,188
2020 – 2024	213,759				23,600

Other Postretirement Benefits [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Defined Benefit Plans Disclosures

The following table presents information about the APBO, the fair value of plan assets, and the funded status of the plans:

	PNM Plan								TNMP Plan
	Year Ended December 31,								Year Ended December 31,
	2014				2013				2014				2013
	(In thousands)
APBO at beginning of year	$	92,165			$	99,613			$	12,266			$	13,678
Service cost	181				260				237				299
Interest cost	4,630				4,113				619				566
Participant contributions	2,582				2,537				366				373
Actuarial (gain) loss	4,455				(4,566		)		1,639				(1,080		)
Benefits paid	(8,838		)		(9,792		)		(1,057		)		(1,570		)
APBO at end of year	95,175				92,165				14,070				12,266
Fair value of plan assets at beginning of year	73,565				64,464				9,601				8,643
Actual return on plan assets	7,334				12,780				841				1,813
Employer contributions	3,532				3,576				343				342
Participant contributions	2,582				2,537				366				373
Benefits paid	(8,838		)		(9,792		)		(1,057		)		(1,570		)
Fair value of plan assets at end of year	78,175				73,565				10,094				9,601
Funded status – asset (liability)	$	(17,000	)		$	(18,600	)		$	(3,976	)		$	(2,665	)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

In the year ended December 31, 2014, actuarial losses of $2.8 million and $1.3 million were recorded in regulatory assets for the PNM Plan and TNMP Plan. There were no prior service costs recorded for the year ended December 31, 2014.

Schedule of Net Benefit Costs

The following table presents the components of net periodic benefit cost:

	Year Ended December 31,
	2014				2013				2012
	(In thousands)
PNM Plan
Service cost	$	181			$	260			$	217
Interest cost	4,630				4,113				5,293
Expected return on plan assets	(5,638		)		(5,043		)		(4,901		)
Amortization of net (gain) loss	2,225				4,242				3,888
Amortization of prior service credit	(1,343		)		(1,343		)		(1,343		)
Net periodic benefit cost	$	55			$	2,229			$	3,154
TNMP Plan
Service cost	$	237			$	299			$	244
Interest cost	619				566				624
Expected return on plan assets	(534		)		(503		)		(516		)
Amortization of net (gain) loss	(122		)		—				(209		)
Amortization of prior service cost	32				57				57
Net periodic benefit cost	$	232			$	419			$	200

Schedule of Assumptions Used

The following significant weighted-average assumptions were used to determine the APBO and net periodic benefit cost. Should actual experience differ from actuarial assumptions, the APBO and net periodic benefit cost would be affected.

	Year Ended December 31,
PNM Plan	2014			2013			2012
Discount rate for determining December 31 APBO	4.45	%		5.21	%		4.26	%
Discount rate for determining net periodic benefit cost	5.21	%		4.26	%		5.70	%
Expected return on plan assets	8.50	%		8.50	%		8.50	%
Rate of compensation increase	N/A			N/A			N/A
TNMP Plan
Discount rate for determining December 31 APBO	4.45	%		5.21	%		4.26	%
Discount rate for determining net periodic benefit cost	5.21	%		4.26	%		5.70	%
Expected return on plan assets	6.50	%		6.50	%		6.50	%
Rate of compensation increase	N/A			N/A			N/A

Schedule of Expected Benefit Payments

The following other postretirement benefit payments, which reflect expected future service, are expected to be paid:

	PNM Plan				TNMP Plan
	(In thousands)
2015	$	6,560			$	801
2016	6,635				822
2017	6,718				838
2018	6,875				860
2019	6,950				882
2020 - 2024	34,585				4,717

Schedule of Health Care Cost Trend Rates

The following table shows the assumed health care cost trend rates for the PNM postretirement benefit plan:

	PNM Plan
	December 31,
	2014			2013
Health care cost trend rate assumed for next year	7.0	%		7.5	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5.0	%		5.0	%
Year that the rate reaches the ultimate trend rate	2023			2019

Executive Retirement Program [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

The following table presents pre-tax information about net actuarial loss in AOCI as of December 31, 2014.

	December 31, 2014
	PNM Plan				TNMP Plan
	(In thousands)
Amount in AOCI not yet recognized in net periodic benefit cost at beginning of year	$	1,833			$	—
Experience loss (gain)	2,040				(110		)
Regulatory asset (liability) adjustment	(1,183		)		110
Amortization recognized in net periodic benefit cost (income)	(88		)		—
Amount in AOCI not yet recognized in net periodic benefit cost at end of year	$	2,602			$	—
Amortization expected to be recognized in 2015	$	136			$	—

Schedule of Net Benefit Costs

The following table presents the components of net periodic benefit:

	Year Ended December 31,
	2014				2013				2012
	(In thousands)
PNM Plan
Service cost	$	—			$	—			$	—
Interest cost	822				720				876
Amortization of net (gain) loss	210				232				83
Amortization of prior service cost	—				—				—
Net periodic benefit cost	$	1,032			$	952			$	959
TNMP Plan
Service cost	$	—			$	—			$	—
Interest cost	39				36				45
Amortization of net (gain) loss	—				—				—
Amortization of prior service cost	—				—				—
Net periodic benefit cost	$	39			$	36			$	45

Schedule of Assumptions Used

The following significant weighted-average assumptions were used to determine the PBO and net periodic benefit cost. Should actual experience differ from actuarial assumptions, the PBO and net periodic benefit cost would be affected.

	Year Ended December 31,
PNM Plan	2014			2013			2012
Discount rate for determining December 31 PBO	4.48	%		5.27	%		4.30	%
Discount rate for determining net periodic benefit cost	5.27	%		4.30	%		5.67	%
Long-term rate of return on plan assets	N/A			N/A			N/A
Rate of compensation increase	N/A			N/A			N/A
TNMP Plan
Discount rate for determining December 31 PBO	4.39	%		5.06	%		4.19	%
Discount rate for determining net periodic benefit cost	5.06	%		4.19	%		5.69	%
Long-term rate of return on plan assets	N/A			N/A			N/A
Rate of compensation increase	N/A			N/A			N/A

Schedule of Expected Benefit Payments

The following executive retirement plan payments, which reflect expected future service, are expected:

	PNM Plan				TNMP Plan
	(In thousands)
2015	$	1,528			$	93
2016	1,510				92
2017	1,490				91
2018	1,468				89
2019	1,445				86
2020 – 2024	6,722				384

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