XML 67 R50.htm IDEA: XBRL DOCUMENT v3.23.1

Lease Commitments (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023																		December 31, 2022
			PNM						TNMP						PNMR Consolidated						PNM						TNMP						PNMR Consolidated
			(In thousands)
Operating leases:
Operating lease assets, net of amortization			$	49,732					$	2,943					$	52,675					$	52,556					$	3,426					$	55,982
Current portion of operating lease liabilities			9,191						1,234						10,425						17,239						1,543						18,781
Long-term portion of operating lease liabilities			38,759						1,479						40,238						39,633						1,703						41,336

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

			March 31, 2023																		December 31, 2022
			PNM						TNMP						PNMR Consolidated						PNM						TNMP						PNMR Consolidated
			(In thousands)
Financing leases:
Non-utility property			$	22,054					$	21,431					$	43,815					$	19,324					$	20,084					$	39,738
Accumulated depreciation			(8,734)						(9,266)						(18,282)						(7,726)						(8,202)						(16,189)
Non-utility property, net			13,320						12,165						25,533						11,598						11,882						23,549
Other current liabilities			$	3,990					$	4,166					$	8,193					$	3,441					$	3,867					$	7,363
Other deferred credits			9,273						8,014						17,298						8,079						8,028						16,123

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, 2023 is presented below:

			PNM						TNMP						PNMR Consolidated
Weighted average remaining lease term (years):
Operating leases			7.77						2.07						7.45
Financing leases			3.95						3.26						3.61
Weighted average discount rate:
Operating leases			4.08		%				4.06		%				4.08		%
Financing leases			3.90		%				3.80		%				3.85		%

Lease, Cost

Information for the components of lease expense is as follows:

									Three Months Ended March 31, 2023
																					PNM						TNMP						PNMR Consolidated
																					(In thousands)
Operating lease cost:																					$	3,908					$	429					$	4,337
Amounts capitalized																					(160)						(353)						(513)
Total operating lease expense																					3,748						76						3,824
Financing lease cost:
Amortization of right-of-use assets																					1,008						1,064						2,093
Interest on lease liabilities																					122						111						234
Amounts capitalized																					(690)						(1,000)						(1,690)
Total financing lease expense																					440						175						637
Variable lease expense																					262						—						262
Short-term lease expense																					147						—						151
Total lease expense for the period																					$	4,597					$	251					$	4,874

									Three Months Ended March 31, 2022
																					PNM						TNMP						PNMR Consolidated
																					(In thousands)
Operating lease cost:																					$	6,683					$	528					$	7,237
Amounts capitalized																					(185)						(469)						(654)
Total operating lease expense																					6,498						59						6,583
Financing lease cost:
Amortization of right-of-use assets																					732						757						1,511
Interest on lease liabilities																					68						73						141
Amounts capitalized																					(497)						(717)						(1,213)
Total financing lease expense																					303						113						439
Variable lease expense																					106						—						106
Short-term lease expense (1)																					1,132						—						1,169
Total lease expense for the period																					$	8,039					$	172					$	8,297

(1) Includes expense of $1.1 million for the three months ended March 31, 2022 for rental of temporary cooling towers associated with the SJGS Unit 1 outage. These amounts are offset with insurance reimbursements of $1.1 million for the three months ended March 31, 2022.

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, 2023																		March 31, 2022
			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			$	9,193					$	126					$	9,319					$	9,244					$	49					$	9,318
Operating cash flows from financing leases			42						14						55						22						8						31
Finance cash flows from financing leases			377						161						560						260						104						386
Non-cash information related to right-of-use assets obtained in exchange for lease obligations:
Operating leases			$	—					$	—					$	—					$	1,079					$	—					$	1,079
Financing leases			2,730						1,347						4,077						441						51						492

Lessee, Operating Lease, Liability, Maturity

Future expected lease payments are shown below:

			As of March 31, 2023
			PNM												TNMP												PNMR Consolidated
			Financing						Operating						Financing						Operating						Financing						Operating
			(In thousands)
Remainder of 2023			$	3,354					$	8,414					$	3,458					$	1,074					$	6,846					$	9,594
2024			3,733						8,035						3,940						943						7,686						8,989
2025			2,849						7,076						2,957						770						5,808						7,847
2026			2,372						7,014						1,805						76						4,177						7,090
2027			1,320						7,018						717						—						2,037						7,018
Later years			757						17,366						81						—						838						17,366
Total minimum lease payments			14,385						54,923						12,958						2,863						27,392						57,904
Less: Imputed interest			1,122						6,973						778						150						1,901						7,241
Lease liabilities as of March 31, 2023			$	13,263					$	47,950					$	12,180					$	2,713					$	25,491					$	50,663

Finance Lease, Liability, Maturity

Future expected lease payments are shown below:

			As of March 31, 2023
			PNM												TNMP												PNMR Consolidated
			Financing						Operating						Financing						Operating						Financing						Operating
			(In thousands)
Remainder of 2023			$	3,354					$	8,414					$	3,458					$	1,074					$	6,846					$	9,594
2024			3,733						8,035						3,940						943						7,686						8,989
2025			2,849						7,076						2,957						770						5,808						7,847
2026			2,372						7,014						1,805						76						4,177						7,090
2027			1,320						7,018						717						—						2,037						7,018
Later years			757						17,366						81						—						838						17,366
Total minimum lease payments			14,385						54,923						12,958						2,863						27,392						57,904
Less: Imputed interest			1,122						6,973						778						150						1,901						7,241
Lease liabilities as of March 31, 2023			$	13,263					$	47,950					$	12,180					$	2,713					$	25,491					$	50,663

X

- Definition

Assets and Liabilities, Lessee [Table Text Block]

+ References

No definition available.

+ Details

Name:	pnm_AssetsAndLiabilitiesLesseeTableTextBlock
Namespace Prefix:	pnm_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

+ References

No definition available.

+ Details

Name:	pnm_ScheduleOfLeasesSupplementalCashFlowsTableTextBlock
Namespace Prefix:	pnm_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980

+ Details

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

X

- Definition

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 https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980

+ Details

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

X

- References

No definition available.

+ Details

Name:	us-gaap_LeasesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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 https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980

+ Details

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