XML 92 R59.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of All Excess Tax Benefits and Deficiencies are Recorded to Tax Expense and Classified as Operating Cash Flows to Reduce Taxes Payable | 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) |  | 2024 |  | 2023 |  | 2022 |  |
|  | (In thousands) |  |
PNM |  | $ | 10 |  |  | $ | 185 |  |  | $ | (65) |  |  |
TNMP |  | 4 |  |  | 76 |  |  | (26) |  |  |
TXNM |  | 17 |  |  | 261 |  |  | (91) |  |  |
Schedule of Weighted-Average Assumptions and Activity in Restricted Stock Awards Including Performance-Based and Market-Based Shares and Additional Information of Restricted Stock Activity, Including Performance-Based and Market-Based Shares | 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 |  | 2024 |  | 2023 |  | 2022 |  |
Expected quarterly dividends per share |  | $ | 0.3875 |  |  | $ | 0.3675 |  |  | $ | 0.3475 |  |  |
Risk-free interest rate |  | 4.27 | % |  | 4.46 | % |  | 1.46 | % |  |
Market-Based Shares (1) |  |  |  |  |  |  |  |
Dividend yield |  | 4.21 | % |  | N/A |  | N/A |  |
Expected volatility |  | 13.09 | % |  | N/A |  | N/A |  |
Risk-free interest rate |  | 4.31 | % |  | N/A |  | N/A |  |
(1) Restricted stock expected to be awarded under the PEP for performance periods ending in 2022 and 2023 do not 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, 2023 |  | 212,080 |  |  | $ | 40.33 |  |  |  |
Granted |  | 249,282 |  |  | 33.51 |  |  |  |
Released |  | (218,403) |  |  | 38.37 |  |  |  |
Forfeited |  | (1,722) |  |  | 43.80 |  |  |  |
Outstanding at December 31, 2024 |  | 241,237 |  |  | $ | 37.05 |  |  |  |
The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares:
|  | Year Ended December 31,
Restricted Stock |  | 2024 |  | 2023 |  | 2022
Weighted-average grant date fair value |  | $ | 38.37 |  |  | $ | 41.98 |  |  | $ | 41.04 |
Total fair value of restricted shares that vested (in thousands) |  | $ | 8,380 |  |  | $ | 8,689 |  |  | $ | 7,368 |

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