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Asset Retirement Obligations
 12 Months Ended
Dec. 31, 2024
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 75.7% 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 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:
TXNM
PNMTNMP
 (In thousands)
Liability at December 31, 2021$234,146 $233,383 $763 
Liabilities incurred— — — 
Liabilities settled— — — 
Accretion expense10,767 10,702 65 
Revisions to estimated cash flows(1)
(21,536)(21,536)— 
Liability at December 31, 2022223,377 222,549 828 
Liabilities incurred— — — 
Liabilities settled(3,482)(3,482)— 
Accretion expense10,218 10,148 70 
Revisions to estimated cash flows(2)
15,418 15,418 — 
Liability at December 31, 2023245,531 244,633 898 
Liabilities incurred— — — 
Liabilities settled(12,451)(12,432)(19)
Accretion expense11,538 11,462 76 
Revisions to estimated cash flows
— — — 
Liability at December 31, 2024$244,618 $243,663 $955 

(1) Reflects a decrease of $21.5 million related to an updated SJGS decommissioning study.
(2) Reflects an increase of $15.4 million related to an updated PVNGS decommissioning study.