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Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended
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Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021
Income Taxes [Line Items] |  |  |
Federal income tax at statutory rates | $ 19,011 | $ 44,375 | $ 51,330
Amortization of accumulated investment tax credits | (1,181) | (1,182) | (1,247)
Amortization of excess deferred income tax | (22,859) | (23,599) | (24,484)
Flow-through of depreciation items | 1,281 | 2,795 | 798
(Earnings) attributable to non-controlling interest in Valencia | (3,892) | (3,176) | (3,253)
State income tax (benefit), net of federal (benefit) | (2,239) | 6,826 | 9,660
Allowance for equity funds used during construction | (3,145) | (2,898) | (2,776)
Allocation of tax (benefit) related to stock compensation awards | (261) | 91 | (788)
Non-deductible compensation | 1,659 | 1,125 | 899
Non-deductible merger related costs | (1,959) | 74 | 848
R&D credit | (2,050) | (1,320) | (1,530)
Other | (715) | 3,019 | 3,125
Total income taxes (benefits) | $ (16,350) | $ 26,130 | $ 32,582
Effective tax rate | 18.06% | 12.37% | 13.33%
PNM |  |  |
Income Taxes [Line Items] |  |  |
Federal income tax at statutory rates | $ 7,972 | $ 29,026 | $ 41,696
Amortization of accumulated investment tax credits | (171) | (172) | (237)
Amortization of excess deferred income tax | (14,252) | (14,421) | (15,158)
Flow-through of depreciation items | 1,114 | 2,641 | 689
(Earnings) attributable to non-controlling interest in Valencia | (3,892) | (3,176) | (3,253)
State income tax (benefit), net of federal (benefit) | (2,216) | 5,694 | 7,609
Allowance for equity funds used during construction | (2,065) | (1,958) | (2,080)
Allocation of tax (benefit) related to stock compensation awards | (185) | 65 | (563)
Non-deductible compensation | 1,015 | 701 | 547
Non-deductible merger related costs | (33) | 10 | 22
R&D credit | (2,000) | (1,300) | (1,500)
Other | (2,045) | 2,088 | (780)
Total income taxes (benefits) | $ (16,758) | $ 19,198 | $ 26,992
Effective tax rate | (44.15%) | 13.89% | 13.59%
TNMP |  |  |
Income Taxes [Line Items] |  |  |
Federal income tax at statutory rates | $ 23,569 | $ 22,560 | $ 15,076
Amortization of excess deferred income tax | (8,607) | (9,177) | (9,326)
State income tax (benefit), net of federal (benefit) | 2,414 | 2,103 | 1,763
Allocation of tax (benefit) related to stock compensation awards | (77) | 26 | (224)
Non-deductible compensation | 642 | 422 | 351
Non-deductible merger related costs | 3 | 1 | (4)
Other | (647) | (774) | 276
Total income taxes (benefits) | $ 17,297 | $ 15,161 | $ 7,912
Effective tax rate | 15.41% | 14.11% | 11.02%

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