XML 80 R57.htm IDEA: XBRL DOCUMENT v3.24.0.1

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

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 (Deficiencies)						2023						2022						2021
						(In thousands)
PNM						$	185					$	(65)					$	564
TNMP						76						(26)						224
PNMR						261						(91)						788

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						2023						2022						2021
Expected quarterly dividends per share						$	0.3675					$	0.3475					$	0.3275
Risk-free interest rate						4.46		%				1.46		%				0.32		%
Market-Based Shares (1)
Dividend yield						N/A						N/A						2.76		%
Expected volatility						N/A						N/A						33.69		%
Risk-free interest rate						N/A						N/A						0.29		%

(1) Restricted stock expected to be awarded under the PEP for performance periods ending after 2023 no longer have market targets.

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, 2022						182,446						$	42.09
Granted						230,141						41.98
Released						(197,765)						43.98
Forfeited						(2,742)						42.89
Outstanding at December 31, 2023						212,080						$	40.33

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						2023						2022						2021
Weighted-average grant date fair value						$	41.98					$	41.04					$	43.48
Total fair value of restricted shares that vested (in thousands)						$	8,698					$	7,368					$	8,617

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
-Name Accounting Standards Codification
-Section 50
-Paragraph 2A
-Subparagraph (a)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2A

+ 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
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

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