XML 64 R41.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Income Taxes [Line Items] |
Deferred Income Taxes, Increase (Decrease) In Regulatory Liability and Income Tax Expense [Table Text Block] |
| PNMR |  | PNM |  | TNMP
| (In thousands)
December 31, 2015: |  |  |  |  |
Regulatory liability | $ | (1,903 | ) |  | $ | (1,903 | ) |  | $ | — |
Income tax expense | $ | (674 | ) |  | $ | (470 | ) |  | $ | — |
December 31, 2014: |  |  |  |  |
Regulatory liability | $ | (5,106 | ) |  | $ | (5,106 | ) |  | $ | — |
Income tax expense | $ | (71 | ) |  | $ | (312 | ) |  | $ | — |
December 31, 2013: |  |  |  |  |
Regulatory liability | $ | 23,896 |  |  | $ | 23,896 |  |  | $ | — |
Income tax expense | $ | 1,233 |  |  | $ | — |  |  | $ | — |
Schedule of Components of Income Tax Expense (Benefit) | PNMR’s income taxes consist of the following components:
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Current federal income tax | $ | — |  |  | $ | (2,015 | ) |  | $ | — |
Current state income tax | (1,376 | ) |  | (728 | ) |  | (917 | )
Deferred federal income tax | 5,488 |  |  | 59,814 |  |  | 50,044 |
Deferred state income tax | 12,305 |  |  | 14,831 |  |  | 12,578 |
Amortization of accumulated investment tax credits | (1,342 | ) |  | (2,164 | ) |  | (2,192 | )
Total income taxes | $ | 15,075 |  |  | $ | 69,738 |  |  | $ | 59,513 |
Schedule of Effective Income Tax Rate Reconciliation | 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,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Federal income tax at statutory rates | $ | 16,154 |  |  | $ | 70,226 |  |  | $ | 61,274 |
Amortization of accumulated investment tax credits | (1,342 | ) |  | (2,164 | ) |  | (2,192 | )
Flow-through of depreciation items | 1,485 |  |  | 1,344 |  |  | 1,132 |
Earnings attributable to non-controlling interest in Valencia | (5,218 | ) |  | (4,945 | ) |  | (5,082 | )
State income tax, net of federal benefit | (1,781 | ) |  | 5,723 |  |  | 3,818 |
Impairment of state net operating loss carryforwards | 5,278 |  |  | 3,129 |  |  | — |
Impairment of state production tax credits | 3,092 |  |  | 894 |  |  | 3,880 |
Allowance for equity funds used during construction | (3,650 | ) |  | (1,947 | ) |  | (1,534 | )
Reversal of deferred items related to BART at SJGS | 1,826 |  |  | — |  |  | — |
Impairment of charitable contribution carryforward | 2,042 |  |  | — |  |  | — |
Other | (2,811 | ) |  | (2,522 | ) |  | (1,783 | )
Total income taxes | $ | 15,075 |  |  | $ | 69,738 |  |  | $ | 59,513 |
Effective tax rate | 32.66 | % |  | 34.76 | % |  | 33.99 | %
Schedule of Deferred Tax Assets and Liabilities | The components of PNMR’s net accumulated deferred income tax liability were:
| December 31,
| 2015 |  | 2014
| (In thousands)
Deferred tax assets: |  |  |
Net operating loss | $ | 161,691 |  |  | $ | 153,858 |
Regulatory liabilities related to income taxes | 80,031 |  |  | 78,858 |
Federal tax credit carryforwards | 77,417 |  |  | 54,748 |
Shutdown of SJGS Units 2 and 3 | 53,823 |  |  | — |
Other | 70,749 |  |  | 68,566 |
Total deferred tax assets | 443,711 |  |  | 356,030 |
Deferred tax liabilities: |  |  |
Depreciation and plant related | (1,027,047 | ) |  | (914,926 | )
Investment tax credit | (56,589 | ) |  | (36,790 | )
Regulatory assets related to income taxes | (71,054 | ) |  | (67,910 | )
CTC | (16,151 | ) |  | (19,352 | )
Pension | (65,226 | ) |  | (66,498 | )
Other | (85,037 | ) |  | (115,282 | )
Total deferred tax liabilities | (1,321,104 | ) |  | (1,220,758 | )
Net accumulated deferred income tax liabilities | $ | (877,393 | ) |  | $ | (864,728 | )
Reconciliation of Accumulated Deferred Income Tax Liability to Deferred Income Tax Benefit | 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, 2015
| (In thousands)
Net change in deferred income tax liability per above table | $ | 12,665 |
Change in tax effects of income tax related regulatory assets and liabilities | (1,896 | )
Tax effect of mark-to-market adjustments | 6,844 |
Tax effect of excess pension liability | (607 | )
Adjustment for uncertain income tax positions | (8,576 | )
Reclassification of unrecognized tax benefits | 8,576 |
Other | (555 | )
Deferred income taxes | $ | 16,451 |
Reconciliation of Unrecognized Tax Benefits (Expenses) | A reconciliation of unrecognized tax benefits (expenses) is as follows:
| PNMR |  | PNM |  | TNMP
| (In thousands)
Balance at December 31, 2012 | $ | 19,198 |  |  | $ | 10,382 |  |  | $ | 6,796 |
Additions based on tax positions related to 2013 | (54 | ) |  | (54 | ) |  | — |
Additions (reductions) for tax positions of prior years | 745 |  |  | 745 |  |  | — |
Settlement payments | — |  |  | — |  |  | — |
Balance at December 31, 2013 | 19,889 |  |  | 11,073 |  |  | 6,796 |
Additions based on tax positions related to 2014 | 623 |  |  | 623 |  |  | — |
Additions (reductions) for tax positions of prior years | (5,481 | ) |  | 532 |  |  | (6,796 | )
Settlement payments | — |  |  | — |  |  | — |
Balance at December 31, 2014 | 15,031 |  |  | 12,228 |  |  | — |
Additions based on tax positions related to 2015 | 1,214 |  |  | 1,214 |  |  | — |
Additions (reductions) for tax positions of prior years | (9,790 | ) |  | (9,790 | ) |  | — |
Settlement payments | — |  |  | — |  |  | — |
Balance at December 31, 2015 | $ | 6,455 |  |  | $ | 3,652 |  |  | $ | — |
Interest Income (Expense) Related to Income Taxes | Interest income (expense) related to income taxes is as follows:
| PNMR |  | PNM |  | TNMP
| (In thousands)
2015 | $ | — |  |  | $ | — |  |  | $ | — |
2014 | $ | 146 |  |  | $ | 148 |  |  | $ | (2 | )
2013 | $ | 242 |  |  | $ | 251 |  |  | $ | (2 | )
Accumulated Accrued Interest Receivable (Payable) Related to Income Taxes | Accumulated accrued interest receivable (payable) related to income taxes is as follows:
| PNMR |  | PNM |  | TNMP
| (In thousands)
December 31, 2015: |  |  |  |  |
Accumulated accrued interest receivable | $ | 3,236 |  |  | $ | 3,236 |  |  | $ | — |
Accumulated accrued interest payable | $ | (1,120 | ) |  | $ | (24 | ) |  | $ | (120 | )
December 31, 2014: |  |  |  |  |
Accumulated accrued interest receivable | $ | 3,569 |  |  | $ | 3,569 |  |  | $ | — |
Accumulated accrued interest payable | $ | (1,120 | ) |  | $ | (24 | ) |  | $ | (120 | )
Tax Carryforward, Impairments, net of Federal Tax Benefit [Table Text Block] |
| PNMR |  | PNM |  | TNMP
| (In thousands)
December 31, 2015: |  |  |  |  |
State tax credit carryforwards | $ | 3,092 |  |  | $ | — |  |  | $ | — |
State net operating loss carryforwards | $ | 5,278 |  |  | $ | 3,619 |  |  | $ | — |
Charitable contribution carryforwards | $ | 2,042 |  |  | $ | — |  |  | $ | — |
December 31, 2014: |  |  |  |  |
State tax credit carryforwards | $ | 894 |  |  | $ | — |  |  | $ | — |
State net operating loss carryforwards | $ | 3,129 |  |  | $ | 2,145 |  |  | $ | — |
December 31, 2013: |  |  |  |  |
State tax credit carryforwards | $ | 3,880 |  |  | $ | — |  |  | $ | — |
Summary of Tax Credit Carryforwards [Table Text Block] |
| PNMR |  | PNM |  | TNMP
| (In thousands)
December 31, 2015: |  |  |  |  |
State tax credit carryforwards | $ | 6,378 |  |  | $ | — |  |  | $ | — |
State net operating loss carryforwards | $ | 361 |  |  | $ | 248 |  |  | $ | — |
Charitable contribution carryforwards | $ | 659 |  |  | $ | — |  |  | $ | — |
December 31, 2014: |  |  |  |  |
State tax credit carryforwards | $ | 5,492 |  |  | $ | — |  |  | $ | — |
State net operating loss carryforwards | $ | 3,129 |  |  | $ | 2,145 |  |  | $ | — |
Public Service Company of New Mexico [Member] |
Income Taxes [Line Items] |
Schedule of Components of Income Tax Expense (Benefit) | PNM’s income taxes (benefit) consist of the following components:
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Current federal income tax | $ | (7,934 | ) |  | $ | (2,175 | ) |  | $ | (479 | )
Current state income tax | (1,988 | ) |  | (979 | ) |  | (760 | )
Deferred federal income tax | (6,827 | ) |  | 45,890 |  |  | 42,806 |
Deferred state income tax | 5,333 |  |  | 12,061 |  |  | 9,429 |
Amortization of accumulated investment tax credits | (1,342 | ) |  | (2,164 | ) |  | (2,192 | )
Total income taxes (benefit) | $ | (12,758 | ) |  | $ | 52,633 |  |  | $ | 48,804 |
Schedule of Effective Income Tax Rate Reconciliation | The differences are attributable to the following factors:
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Federal income tax (benefit) at statutory rates | $ | (4,579 | ) |  | $ | 53,930 |  |  | $ | 53,018 |
Amortization of accumulated investment tax credits | (1,342 | ) |  | (2,164 | ) |  | (2,192 | )
Flow-through of depreciation items | 1,465 |  |  | 1,325 |  |  | 1,115 |
Earnings attributable to non-controlling interest in Valencia | (5,218 | ) |  | (4,945 | ) |  | (5,082 | )
State income tax, net of federal benefit | (2,162 | ) |  | 5,522 |  |  | 6,202 |
Impairment of state net operating loss carryforwards | 3,619 |  |  | 2,145 |  |  | — |
Allowance for equity funds used during construction | (3,650 | ) |  | (1,947 | ) |  | (1,534 | )
Reversal of deferred items related to BART at SJGS | 1,826 |  |  | — |  |  | — |
Reversal of deferred income taxes accrued at prior tax rates | (737 | ) |  | (737 | ) |  | (737 | )
Other | (1,980 | ) |  | (496 | ) |  | (1,986 | )
Total income taxes (benefit) | $ | (12,758 | ) |  | $ | 52,633 |  |  | $ | 48,804 |
Effective tax rate | 97.52 | % |  | 34.16 | % |  | 32.22 | %
Schedule of Deferred Tax Assets and Liabilities | The components of PNM’s net accumulated deferred income tax liability were:
| December 31,
| 2015 |  | 2014
| (In thousands)
Deferred tax assets: |  |  |
Net operating loss | $ | 116,693 |  |  | $ | 108,505 |
Regulatory liabilities related to income taxes | 75,889 |  |  | 74,293 |
Federal tax credit carryforwards | 57,928 |  |  | 35,259 |
Shutdown of SJGS Units 2 and 3 | 53,823 |  |  | — |
Other | 41,210 |  |  | 35,681 |
Total deferred tax assets | 345,543 |  |  | 253,738 |
Deferred tax liabilities: |  |  |
Depreciation and plant related | (828,926 | ) |  | (733,519 | )
Investment tax credit | (56,589 | ) |  | (36,790 | )
Regulatory assets related to income taxes | (61,018 | ) |  | (57,637 | )
Pension | (58,070 | ) |  | (58,474 | )
Other | (37,324 | ) |  | (70,714 | )
Total deferred tax liabilities | (1,041,927 | ) |  | (957,134 | )
Net accumulated deferred income tax liabilities | $ | (696,384 | ) |  | $ | (703,396 | )
Reconciliation of Accumulated Deferred Income Tax Liability to Deferred Income Tax Benefit | 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, 2015
| (In thousands)
Net change in deferred income tax liability per above table | $ | (7,012 | )
Change in tax effects of income tax related regulatory assets and liabilities | (1,784 | )
Tax effect of mark-to-market adjustments | 6,872 |
Tax effect of excess pension liability | (607 | )
Adjustment for uncertain income tax positions | (8,576 | )
Reclassification of unrecognized tax benefits | 8,576 |
Other | (305 | )
Deferred income taxes | $ | (2,836 | )
Texas-New Mexico Power Company [Member] |
Income Taxes [Line Items] |
Schedule of Components of Income Tax Expense (Benefit) | TNMP’s income taxes consist of the following components:
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Current federal income tax | $ | 1,603 |  |  | $ | 35 |  |  | $ | (4,957 | )
Current state income tax | 1,639 |  |  | 1,939 |  |  | 1,916 |
Deferred federal income tax | 20,904 |  |  | 20,577 |  |  | 20,688 |
Deferred state income tax | (21 | ) |  | (28 | ) |  | (26 | )
Total income taxes | $ | 24,125 |  |  | $ | 22,523 |  |  | $ | 17,621 |
Schedule of Effective Income Tax Rate Reconciliation | The differences are attributable to the following factors:
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Federal income tax at statutory rates | $ | 23,131 |  |  | $ | 21,115 |  |  | $ | 16,349 |
State income tax, net of federal benefit | 1,065 |  |  | 1,257 |  |  | 1,247 |
Other | (71 | ) |  | 151 |  |  | 25 |
Total income taxes | $ | 24,125 |  |  | $ | 22,523 |  |  | $ | 17,621 |
Effective tax rate | 36.50 | % |  | 37.33 | % |  | 37.72 | %
Schedule of Deferred Tax Assets and Liabilities | The components of TNMP’s net accumulated deferred income tax liability at December 31, were:
| December 31,
| 2015 |  | 2014
| (In thousands)
Deferred tax assets: |  |  |
Regulatory liabilities related to income taxes | $ | 4,141 |  |  | $ | 4,565 |
Other | 6,702 |  |  | 13,429 |
Total deferred tax assets | 10,843 |  |  | 17,994 |
Deferred tax liabilities: |  |  |
Depreciation and plant related | (189,322 | ) |  | (174,510 | )
CTC | (16,151 | ) |  | (19,352 | )
Regulatory assets related to income taxes | (10,036 | ) |  | (10,273 | )
Loss on reacquired debt | (12,392 | ) |  | (12,846 | )
Other | (15,733 | ) |  | (12,560 | )
Total deferred tax liabilities | (243,634 | ) |  | (229,541 | )
Net accumulated deferred income tax liabilities | $ | (232,791 | ) |  | $ | (211,547 | )
Reconciliation of Accumulated Deferred Income Tax Liability to Deferred Income Tax Benefit | 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, 2015
| (In thousands)
Net change in deferred income tax liability per above table | $ | 21,244 |
Change in tax effects of income tax related regulatory assets and liabilities | (111 | )
Other | (250 | )
Deferred income taxes | $ | 20,883 |

X
- Definition Accumulated Accrued Interest Receivable (Payable) Related to Income Taxes [Table Text Block] + References No definition available. + Details
Name: | pnm_AccumulatedAccruedInterestReceivablePayableRelatedToIncomeTaxesTableTextBlock
Namespace Prefix: | pnm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Deferred Income Taxes, Increase (Decrease) In Regulatory Liability and Income Tax Expense [Table Text Block] + References No definition available. + Details
Name: | pnm_DeferredIncomeTaxesIncreaseDecreaseInRegulatoryLiabilityandIncomeTaxExpenseTableTextBlock
Namespace Prefix: | pnm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Income Taxes [Line Items] + References No definition available. + Details
Name: | pnm_IncomeTaxesLineItems
Namespace Prefix: | pnm_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Interest Income (Expense) Related to Income Taxes [Table Text Block] + References No definition available. + Details
Name: | pnm_InterestIncomeExpenseRelatedToIncomeTaxesTableTextBlock
Namespace Prefix: | pnm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Deferred Income Tax Components [Table Text Block] + References No definition available. + Details
Name: | pnm_ScheduleOfDeferredIncomeTaxComponentsTableTextBlock
Namespace Prefix: | pnm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tax Carryforward, Impairments, net of Federal Tax Benefit [Table Text Block] + References No definition available. + Details
Name: | pnm_TaxCarryforwardImpairmentsnetofFederalTaxBenefitTableTextBlock
Namespace Prefix: | pnm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of tax credit carryforwards available to reduce future taxable income, including amounts, expiration dates, limitations on use and the related deferred tax assets and valuation allowances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Carryforwards -URI http://asc.fasb.org/extlink&oid=6506874 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
Name: | us-gaap_SummaryOfTaxCreditCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | dei_LegalEntityAxis=pnm_PublicServiceCompanyOfNewMexicoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | dei_LegalEntityAxis=pnm_TexasNewMexicoPowerCompanyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |