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Pension and Other Postretirement Benefit Plans | 3 Months Ended
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Mar. 31, 2019
Retirement Benefits [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 (collectively, the “PNM Plans” and “TNMP Plans”). PNMR maintains the legal obligation for the benefits owed to participants under these plans. The periodic costs or income of the PNM Plans and TNMP Plans are included in regulated rates to the extent attributable to regulated operations. In accordance with GAAP, the Company presents the service cost component of its net periodic benefit costs in administrative and general expenses and the non-service costs components in other income (deductions), net of amounts capitalized or deferred to regulatory assets and liabilities, on the Condensed Consolidated Statements of Earnings. PNM and TNMP receive a regulated return on the amounts funded for pension and OPEB plans in excess of accumulated periodic cost or income to the extent included in retail rates (a “prepaid pension asset”). Additional information concerning pension and OPEB plans is contained in Note 11 of the Notes to Consolidated Financial Statements in the 2018 Annual Reports on Form 10-K. Annual net periodic benefit cost 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 table presents the components of the PNM Plans’ net periodic benefit cost:
| Three Months Ended March 31,
| Pension Plan |  | OPEB Plan |  | Executive Retirement Program
| 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018
| (In thousands)
Components of Net Periodic Benefit Cost |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | 13 |  |  | $ | 21 |  |  | $ | — |  |  | $ | — |
Interest cost | 6,294 |  |  | 6,068 |  |  | 829 |  |  | 860 |  |  | 162 |  |  | 155 |
Expected return on plan assets | (8,527 | ) |  | (8,672 | ) |  | (1,318 | ) |  | (1,353 | ) |  | — |  |  | — |
Amortization of net (gain) loss | 3,880 |  |  | 4,087 |  |  | 169 |  |  | 588 |  |  | 79 |  |  | 90 |
Amortization of prior service cost | (241 | ) |  | (241 | ) |  | (99 | ) |  | (416 | ) |  | — |  |  | — |
Net periodic benefit cost | $ | 1,406 |  |  | $ | 1,242 |  |  | $ | (406 | ) |  | $ | (300 | ) |  | $ | 241 |  |  | $ | 245 |
PNM did not make any contributions to its pension plan trust in the three months ended March 31, 2019 and 2018 and does not anticipate making any contributions to the pension plan in 2019-2021, but expects to contribute $1.3 million in 2022 and $22.9 million in 2023, based on current law, including recent amendments to funding requirements, and estimates of portfolio performance. The funding assumptions were developed using discount rates of 4.2% to 4.6%. Actual amounts to be funded in the future will be dependent on the actuarial assumptions at that time, including the appropriate discount rate. PNM may make additional contributions at its discretion. PNM made no contributions to the OPEB trust in the three months ended March 31, 2019 and 2018. PNM does not expect to make any contributions to the OPEB trust in 2019-2023. Disbursements under the executive retirement program, which are funded by PNM and considered to be contributions to the plan, were $0.4 million and $0.5 million in the three months ended March 31, 2019 and 2018 and are expected to total $1.5 million during 2019 and $5.6 million for 2020-2023. TNMP Plans The following table presents the components of the TNMP Plans’ net periodic benefit cost:
| Three Months Ended March 31,
| Pension Plan |  | OPEB Plan |  | Executive Retirement Program
| 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018
| (In thousands)
Components of Net Periodic Benefit Cost |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | 13 |  |  | $ | 33 |  |  | $ | — |  |  | $ | — |
Interest cost | 672 |  |  | 656 |  |  | 113 |  |  | 119 |  |  | 8 |  |  | 7 |
Expected return on plan assets | (967 | ) |  | (991 | ) |  | (129 | ) |  | (135 | ) |  | — |  |  | — |
Amortization of net (gain) loss | 235 |  |  | 272 |  |  | (110 | ) |  | (56 | ) |  | 4 |  |  | 4 |
Amortization of prior service cost | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net Periodic Benefit Cost | $ | (60 | ) |  | $ | (63 | ) |  | $ | (113 | ) |  | $ | (39 | ) |  | $ | 12 |  |  | $ | 11 |
TNMP did not make any contributions to its pension plan trust in the three months ended March 31, 2019 and 2018 and does not anticipate making any contributions in 2019-2023, based on current law, including recent amendments to funding requirements, and estimates of portfolio performance. The funding assumptions were developed using discount rates of 4.2% to 4.6%. 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 of zero and $0.3 million to the OPEB trust in the three months ended March 31, 2019 and 2018. TNMP does not expect to make contributions to the OPEB trust during the period 2019-2023. 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 months ended March 31, 2019 and 2018 and are expected to total $0.1 million during 2019 and $0.3 million in 2020-2023.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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