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Asset Retirement Obligations

12 Months Ended

Dec. 31, 2023

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

Asset Retirement Obligations

AROs are recorded based on studies to estimate the amount and timing of future ARO expenditures and reflect underlying assumptions, such as discount rates, estimates of the future costs for decommissioning, and the timing of the removal activities to be performed. Approximately 72% of PNM’s total ARO liabilities are related to nuclear decommissioning of PVNGS. PNM is responsible for all decommissioning obligations related to its entire interest in PVNGS, including portions under lease both during and after termination of the leases. Studies of the decommissioning costs of PVNGS, SJGS, Four Corners, and other facilities are performed periodically and revisions to the ARO liabilities are recorded. Changes in the assumptions underlying the calculations may also require revisions to the estimated AROs when identified. A reconciliation of the ARO liabilities is as follows:

			PNMR						PNM						TNMP
			(In thousands)
Liability at December 31, 2020			$	183,421					$	182,718					$	703
Liabilities incurred			1,781						1,781						—
Liabilities settled			(142)						(142)						—
Accretion expense			9,308						9,248						60
Revisions to estimated cash flows(1)			39,778						39,778						—
Liability at December 31, 2021			234,146						233,383						763
Liabilities incurred			—						—						—
Liabilities settled			—						—						—
Accretion expense			10,767						10,702						65
Revisions to estimated cash flows(2)			(21,536)						(21,536)						—
Liability at December 31, 2022			223,377						222,549						828
Liabilities incurred			—						—						—
Liabilities settled			(3,482)						(3,482)						—
Accretion expense			10,218						10,148						70
Revisions to estimated cash flows(3)			15,418						15,418						—
Liability at December 31, 2023			$	245,531					$	244,633					$	898

(1)  Reflects an increase of $39.8 million for the remediation ordinance in San Juan County requiring the full demolition of SJGS.

(2) Reflects a decrease of $21.5 million related to an updated SJGS decommissioning study.

(3) Reflects an increase of $15.4 million related to an updated PVNGS decommissioning study.

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- References

No definition available.

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- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 410
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481850/410-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 410
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//410-20/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 20
-Topic 410
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481850/410-20-50-2

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