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Lease Commitments (Tables)

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Assets and Liabilities, Lessee

Information related to the Company’s operating leases recorded on the Condensed Consolidated Balance Sheets is presented below:

			March 31, 2021																		December 31, 2020
			PNM						TNMP						PNMR Consolidated						PNM						TNMP						PNMR Consolidated
			(In thousands)
Operating leases:
Operating lease assets, net of amortization			$	91,652					$	6,937					$	99,017					$	97,461					$	7,206					$	105,133
Current portion of operating lease liabilities			25,868						2,185						28,160						25,130						2,193						27,460
Long-term portion of operating lease liabilities			66,657						4,515						71,492						75,941						4,779						81,065

Information related to the Company’s financing leases recorded on the Condensed Consolidated Balance Sheets is presented below:

			March 31, 2021																		December 31, 2020
			PNM						TNMP						PNMR Consolidated						PNM						TNMP						PNMR Consolidated
			(In thousands)
Financing leases:
Non-utility property			$	12,140					$	13,535					$	25,997					$	11,453					$	13,299					$	25,055
Accumulated depreciation			(2,575)						(2,833)						(5,528)						(2,044)						(2,241)						(4,383)
Non-utility property, net			9,565						10,702						20,469						9,409						11,058						20,672
Other current liabilities			2,119						2,436						4,641						1,993						2,397						4,470
Other deferred credits			7,225						8,272						15,616						7,176						8,669						15,972

Information concerning the weighted average remaining lease terms and the weighted average discount rates used to determine the Company’s lease liabilities as of March 31, 2021 is presented below:

			PNM						TNMP						PNMR Consolidated
Weighted average remaining lease term (years):
Operating leases			6.07						3.41						5.89
Financing leases			4.70						4.69						4.67
Weighted average discount rate:
Operating leases			3.96		%				3.94		%				3.96		%
Financing leases			2.71		%				2.81		%				2.76		%

Lease, Cost

Information for the components of lease expense is as follows:

			Three Months Ended March 31, 2021
			PNM						TNMP						PNMR Consolidated
			(In thousands)
Operating lease cost:			$	6,735					$	653					$	7,429
Amounts capitalized			(226)						(559)						(785)
Total operating lease expense			$	6,509					$	94					$	6,644
Financing lease cost:
Amortization of right-of-use assets			532						613						1,167
Interest on lease liabilities			62						76						139
Amounts capitalized			(368)						(625)						(993)
Total financing lease expense			226						64						313
Variable lease expense			63						—						63
Short-term lease expense			124						2						132
Total lease expense for the period			$	6,922					$	160					$	7,152

			Three Months Ended March 31, 2020
			PNM						TNMP						PNMR Consolidated
			(In thousands)
Operating lease cost:			$	6,893					$	774					$	7,735
Amounts capitalized			(291)						(634)						(925)
Total operating lease expense			$	6,602					$	140					$	6,810
Financing lease cost:
Amortization of right-of-use assets			247						289						553
Interest on lease liabilities			45						56						103
Amounts capitalized			(175)						(283)						(458)
Total financing lease expense			117						62						198
Variable lease expense			32						—						32
Short-term lease expense			85						1						86
Total lease expense for the period			$	6,836					$	203					$	7,126

Schedule of Leases, Supplemental Cash Flows

Supplemental cash flow information related to the Company’s leases is as follows:

			Three Months Ended																		Three Months Ended
			March 31, 2021																		March 31, 2020
			PNM						TNMP						PNMR Consolidated						PNM						TNMP						PNMR Consolidated
			(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$	9,246					$	97					$	9,401					$	9,351					$	166					$	9,658
Operating cash flows from financing leases			21						8						30						16						9						27
Finance cash flows from financing leases			186						71						278						80						51						147
Non-cash information related to right-of-use assets obtained in exchange for lease obligations:
Operating leases			$	—					$	317					$	317					$	—					$	—					$	—
Financing leases			758						387						1,164						1,463						2,802						4,272

Lessee, Operating Lease, Liability, Maturity

Future expected lease payments are shown below:

			As of March 31, 2021
			PNM												TNMP												PNMR Consolidated
			Financing						Operating						Financing						Operating						Financing						Operating
			(In thousands)
Remainder of 2021			$	1,760					$	17,099					$	2,032					$	1,831					$	3,858					$	19,025
2022			2,296						26,544						2,613						2,039						4,995						28,653
2023			2,229						17,477						2,431						1,548						4,710						19,063
2024			1,565						7,915						1,956						945						3,529						8,897
2025			935						6,919						1,233						763						2,168						7,721
Later years			1,156						27,521						1,153						76						2,308						27,815
Total minimum lease payments			9,941						103,475						11,418						7,202						21,568						111,174
Less: Imputed interest			597						10,950						710						502						1,311						11,522
Lease liabilities as of March 31, 2021			$	9,344					$	92,525					$	10,708					$	6,700					$	20,257					$	99,652

Finance Lease, Liability, Maturity

Future expected lease payments are shown below:

			As of March 31, 2021
			PNM												TNMP												PNMR Consolidated
			Financing						Operating						Financing						Operating						Financing						Operating
			(In thousands)
Remainder of 2021			$	1,760					$	17,099					$	2,032					$	1,831					$	3,858					$	19,025
2022			2,296						26,544						2,613						2,039						4,995						28,653
2023			2,229						17,477						2,431						1,548						4,710						19,063
2024			1,565						7,915						1,956						945						3,529						8,897
2025			935						6,919						1,233						763						2,168						7,721
Later years			1,156						27,521						1,153						76						2,308						27,815
Total minimum lease payments			9,941						103,475						11,418						7,202						21,568						111,174
Less: Imputed interest			597						10,950						710						502						1,311						11,522
Lease liabilities as of March 31, 2021			$	9,344					$	92,525					$	10,708					$	6,700					$	20,257					$	99,652

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Schedule Of Leases, Supplemental Cash Flows [Table Text Block]

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- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980

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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980

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