Regulatory Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Regulatory Assets and Liabilities

Regulatory assets and liabilities reflected in the Consolidated Balance Sheets are presented below.


	PNM				TNMP
	December 31,				December 31,
	2020		2019		2020		2019
Assets:	(In thousands)
Current:
FPPAC	$	—	$	7,373	$	—	$	—

Energy efficiency costs	—		—		202		—

	—		7,373		202		—
Non-Current:
CTC, including carrying charges	—		—		324		7,412
Coal mine reclamation costs(3)	9,980		13,995		—		—
Deferred income taxes	65,564		66,296		9,817		8,997
Loss on reacquired debt	19,748		19,426		28,914		30,212
Pension and OPEB(1)	190,147		214,771		22,863		27,947

Shutdown of SJGS Units 2 and 3	107,231		113,508		—		—
Hurricane recovery costs(2)	—		—		480		1,041
AMS surcharge	—		—		18,761		25,015
AMS retirement and other costs	—		—		13,915		15,542
Renewable energy costs	—		643		—		—
Deferred cost under the ETA	42,703		—		—		—
Deferred COVID-19 costs	8,761		—		676		—
SJGS replacement resources	8,282		—		—		—
Other	5,537		6,828		4,087		5,297
	457,953		435,467		99,837		121,463
Total regulatory assets	$	457,953	$	442,840	$	100,039	$	121,463


	PNM				TNMP
	December 31,				December 31,
	2020		2019		2020		2019
Liabilities:
Current:
FPPAC	$	(2,274)	$	—	$	—	$	—
Renewable energy rider	(2,044)		—		—		—

Other	(1,101)		(371)		(2,052)		(134)
	(5,419)		(371)		(2,052)		(134)
Non-Current:
Cost of removal	(284,695)		(271,025)		(59,613)		(46,091)
Deferred income taxes	(343,844)		(374,122)		(119,695)		(131,871)
PVNGS ARO	(5,394)		(11,341)		—		—
Renewable energy tax benefits	(17,912)		(19,069)		—		—


Accelerated depreciation SNCRs(4)	(12,045)		(7,758)		—		—
Pension and OPEB	—		—		(5,535)		(4,775)
COVID-19 cost savings	(900)		—		—		—
Other	(83)		(83)		(512)		(108)
	(664,873)		(683,398)		(185,355)		(182,845)
Total regulatory liabilities	$	(670,292)	$	(683,769)	$	(187,407)	$	(182,979)

(1) Includes $1.6 million for certain PNM pension costs as described in Note 11

(2) Amount shown is net of amounts owed under the PUCT’s January 25, 2018 order as described in Note 17

(3) Includes $9.3 million in coal mine reclamation costs related to PNM’s planned retirement of SJGS in 2022 and recoverable under the ETA as described in Note 16

(4) Amounts to be refunded under the ETA