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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Cash Proceeds Received and Tax Benefit from Share-based Payment Awards |
|  | Year Ended December 31,
Excess Tax Benefits |  | 2020 |  | 2019 |  | 2018 |  |
|  | (In thousands) |  |
PNM |  | $ | 279 |  |  | $ | 559 |  |  | $ | 1,007 |  |  |
TNMP |  | 112 |  |  | 236 |  |  | 377 |  |  |
PNMR |  | 391 |  |  | 795 |  |  | 1,384 |  |  |
Summary of Awards | The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value:
|  | Year Ended December 31,
Restricted Shares and Performance-Based Shares |  | 2020 |  | 2019 |  | 2018 |  |
Expected quarterly dividends per share |  | $ | 0.3075 |  |  | $ | 0.2900 |  |  | $ | 0.2650 |  |  |
Risk-free interest rate |  | 0.72 % |  | 2.47 | % |  | 2.38 | % |  |
Market-Based Shares |  |  |  |  |  |  |  |
Dividend yield |  | 2.51 | % |  | 2.59 | % |  | 2.96 | % |  |
Expected volatility |  | 19.41 | % |  | 19.55 | % |  | 19.12 | % |  |
Risk-free interest rate |  | 0.72 | % |  | 2.51 | % |  | 2.36 | % |  |
The following table summarizes activity in restricted stock awards, including performance-based and market-based shares, and stock options:
|  | Restricted Stock |  | Stock Options |
|  | Shares |  | Weighted-Average Grant Date Fair Value |  | Shares |  | Weighted Average Exercise Price |  |  |
Outstanding at December 31, 2019 |  | 161,542 |  |  | $ | 38.21 |  |  | 2,000 |  |  | $ | 12.22 |  |  |  |
Granted |  | 246,029 |  |  | 36.73 |  |  | — |  |  | — |  |  |  |
Exercised |  | (238,054) |  |  | 34.86 |  |  | (2,000) |  |  | 12.22 |  |  |  |
Forfeited |  | (1,456) |  |  | 41.32 |  |  | — |  |  | — |  |  |  |
Outstanding at December 31, 2020 |  | 168,061 |  |  | $ | 40.77 |  |  | — |  |  | $ | — |  |  |  |
The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares, and stock options:
|  | Year Ended December 31,
Restricted Stock |  | 2020 |  | 2019 |  | 2018
Weighted-average grant date fair value |  | $ | 36.73 |  |  | $ | 37.92 |  |  | $ | 29.65 |
Total fair value of restricted shares that vested (in thousands) |  | $ | 8,299 |  |  | $ | 6,246 |  |  | $ | 8,558 |
Stock Options |  |  |  |  |  |
Total intrinsic value of options exercised (in thousands) |  | $ | 84 |  |  | $ | 2,617 |  |  | $ | 3,117 |

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- Definition Tabular disclosure of cash received from exercise of stock options and similar instruments granted under share-based payment arrangements and tax benefit from exercise of stock options. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=SL79508275-113901 + Details
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