XML 78 R57.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Cash Proceeds Received and Tax Benefit from Share-based Payment Awards | All excess tax benefits and deficiencies are recorded to tax expense and classified as operating cash flows when used to reduce taxes payable.
|  | Year Ended December 31,
Excess Tax Benefits |  | 2021 |  | 2020 |  | 2019 |  |
|  | (In thousands) |  |
PNM |  | $ | 564 |  |  | $ | 279 |  |  | $ | 559 |  |  |
TNMP |  | 224 |  |  | 112 |  |  | 236 |  |  |
PNMR |  | 788 |  |  | 391 |  |  | 795 |  |  |
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 |  | 2021 |  | 2020 |  | 2019 |  |
Expected quarterly dividends per share |  | $ | 0.3275 |  |  | $ | 0.3075 |  |  | $ | 0.2900 |  |  |
Risk-free interest rate |  | 0.32 | % |  | 0.72 % |  | 2.47 | % |  |
Market-Based Shares |  |  |  |  |  |  |  |
Dividend yield |  | 2.76 | % |  | 2.51 | % |  | 2.59 | % |  |
Expected volatility |  | 33.69 | % |  | 19.41 | % |  | 19.55 | % |  |
Risk-free interest rate |  | 0.29 | % |  | 0.72 | % |  | 2.51 | % |  |
The following table summarizes activity in restricted stock awards including performance-based and market-based shares:
|  | Restricted Stock |
|  | Shares |  | Weighted-Average Grant Date Fair Value |  |  |
Outstanding at December 31, 2020 |  | 168,061 |  |  | $ | 40.77 |  |  |  |
Granted |  | 213,515 |  |  | 43.48 |  |  |  |
Released |  | (211,587) |  |  | 40.73 |  |  |  |
Forfeited |  | (2,719) |  |  | 43.81 |  |  |  |
Outstanding at December 31, 2021 |  | 167,270 |  |  | $ | 43.71 |  |  |  |
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 |  | 2021 |  | 2020 |  | 2019
Weighted-average grant date fair value |  | $ | 43.48 |  |  | $ | 36.73 |  |  | $ | 37.92 |
Total fair value of restricted shares that vested (in thousands) |  | $ | 8,617 |  |  | $ | 8,299 |  |  | $ | 6,246 |
Stock Options |  |  |  |  |  |
Total intrinsic value of options exercised (in thousands) |  | $ | — |  |  | $ | 84 |  |  | $ | 2,617 |

X
- 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
Name: | us-gaap_CashProceedsReceivedAndTaxBenefitFromShareBasedPaymentAwardsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration