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Lease Commitments (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Scheule of Information Related to Operating Leases and Finance Leases Recorded on the Consolidated Balance Sheets and Weighted Average Remaining Lease Terms and Weighted Average Discount Rates

Information related to the Company’s operating leases recorded on the Consolidated Balance Sheets is presented below:

			December 31, 2024																		December 31, 2023
			PNM						TNMP						TXNM Consolidated						PNM						TNMP						TXNM Consolidated
			(In thousands)
Operating leases:
Operating lease assets, net of amortization			$	271,433					$	923					$	272,894					$	180,370					$	1,814					$	182,201
Current portion of operating lease liabilities			13,542						713						14,293						11,371						895						12,267
Long-term portion of operating lease liabilities			254,702						167						255,376						166,191						809						167,000

Information related to the Company’s financing leases recorded on the Consolidated Balance Sheets is presented below:

			December 31, 2024																		December 31, 2023
			PNM						TNMP						TXNM Consolidated						PNM						TNMP						TXNM Consolidated
			(In thousands)
Financing leases:
Non-utility property			$	24,548					$	24,420					$	50,144					$	25,425					$	24,487					$	49,981
Accumulated depreciation			(10,997)						(13,411)						(24,604)						(11,984)						(11,869)						(23,905)
Non-utility property, net			$	13,551					$	11,009					$	25,540					$	13,441					$	12,618					$	26,076
Other current liabilities			$	4,311					$	4,527					$	9,126					$	4,146					$	4,616					$	8,776
Other deferred credits			9,262						6,504						16,470						9,300						8,023						17,326

Information concerning the weighted average remaining lease terms and the weighted average discount rates used to determine the Company’s lease liabilities is presented below:

			December 31, 2024																		December 31, 2023
			PNM						TNMP						TXNM Consolidated						PNM						TNMP						TXNM Consolidated
Weighted average remaining lease term (years):
Operating leases			17.52						1.10						17.45						16.79						1.65						16.65
Financing leases			3.51						2.80						3.20						3.81						3.08						3.45
Weighted average discount rate:
Operating leases			5.68		%				4.41		%				5.68		%				5.61		%				4.16		%				5.60		%
Financing leases			5.08						5.19						5.12						4.54						4.63						4.58

Schedule of Components of Lease Expense

Information for the components of lease expense is as follows:

			Year Ended December 31, 2024
			PNM						TNMP						TXNM Consolidated
			(In thousands)
Operating lease cost:
Energy storage leases			$	13,353					$	—					$	13,353
Other operating leases			7,722						907						8,679
Amounts capitalized			(101)						(793)						(894)
Total operating lease expense			20,974						114						21,138
Financing lease cost:
Amortization of right-of-use assets			4,554						5,129						9,889
Interest on lease liabilities			603						595						1,229
Amounts capitalized			(3,227)						(4,648)						(7,875)
Total financing lease expense			1,930						1,076						3,243
Variable lease expense			3,900						—						3,900
Short-term lease expense			714						23						787
Total lease expense for the period			$	27,518					$	1,213					$	29,068

			Year Ended December 31, 2023
			PNM						TNMP						TXNM Consolidated
			(In thousands)
Operating lease cost
Energy storage leases			$	4,351					$	—					$	4,351
Other operating leases			11,127						1,479						12,606
Amounts capitalized			(374)						(1,298)						(1,672)
Total operating lease expense			15,104						181						15,285
Financing lease cost:
Amortization of right-of-use assets			4,566						4,634						9,253
Interest on lease liabilities			562						497						1,060
Amounts capitalized			(3,190)						(4,250)						(7,440)
Total financing lease expense			1,938						881						2,873
Variable lease expense			1,342						—						1,342
Short-term lease expense			675						29						782
Total lease expense for the period			$	19,059					$	1,091					$	20,282

			Year Ended December 31, 2022
			PNM						TNMP						TXNM Consolidated
			(In thousands)
Operating lease cost
Other operating leases			$	26,764					$	2,020					$	28,835
Amounts capitalized			(690)						(1,728)						(2,417)
Total operating lease expense			26,074						292						26,418
Financing lease cost:
Amortization of right-of-use assets			3,175						3,279						6,529
Interest on lease liabilities			327						330						659
Amounts capitalized			(2,264)						(3,208)						(5,471)
Total financing lease expense			1,238						401						1,717
Variable lease expense			890						—						890
Short-term lease expense (1)			3,058						5						3,109
Total lease expense for the period			$	31,260					$	698					$	32,134

(1) Includes expense of $2.7 million for the twelve months ended December 31, 2022 for rental of temporary cooling towers associated with the SJGS Unit 1 outage. These amounts are partially offset with insurance reimbursements of $2.7 million for the twelve months ended December 31, 2022.

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to the Company’s leases is as follows:

			Year Ended December 31, 2024																		Year Ended December 31, 2023
			PNM						TNMP						TXNM Consolidated						PNM						TNMP						TXNM Consolidated
			(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$	21,277					$	47					$	21,368					$	21,575					$	110					$	21,685
Operating cash flows from financing leases			206						102						340						183						73						256
Financing cash flows from financing leases			1,707						971						2,872						1,671						802						2,527
Non-cash information related to right-of-use assets obtained in exchange for lease obligations:
Operating leases			$	101,594					$	100					$	102,261					$	138,204					$	6					$	138,210
Financing leases			4,962						3,715						9,850						6,421						5,407						11,828

Schedule of Future Expected Finance Lease Payments

Future expected lease payments are shown below:

			As of December 31, 2024
			PNM																		TNMP												TXNM Consolidated
									Operating																														Operating
			Financing						Energy Storage						Other						Financing						Operating						Financing						Energy Storage						Other
			(In thousands)
2025			$	4,879					$	20,333					$	7,101					$	4,971					$	808					$	10,181					$	20,333					$	7,976
2026			4,300						20,333						7,042						3,635						90						8,258						20,333						7,201
2027			3,019						20,333						7,046						2,186						14						5,507						20,333						7,131
2028			1,640						20,333						7,049						811						11						2,571						20,333						7,133
2029			568						20,333						7,036						258						—						826						20,333						7,111
Later years			230						287,100						3,550						—						—						230						287,100						3,902
Total minimum lease payments			14,636						388,765						38,824						11,861						923						27,573						388,765						40,454
Less: Imputed interest			1,063						154,931						4,414						830						43						1,977						154,932						4,618
Lease liabilities			$	13,573					$	233,834					$	34,410					$	11,031					$	880					$	25,596					$	233,833					$	35,836

Schedule of Future Expected Operating Lease Payments

Future expected lease payments are shown below:

			As of December 31, 2024
			PNM																		TNMP												TXNM Consolidated
									Operating																														Operating
			Financing						Energy Storage						Other						Financing						Operating						Financing						Energy Storage						Other
			(In thousands)
2025			$	4,879					$	20,333					$	7,101					$	4,971					$	808					$	10,181					$	20,333					$	7,976
2026			4,300						20,333						7,042						3,635						90						8,258						20,333						7,201
2027			3,019						20,333						7,046						2,186						14						5,507						20,333						7,131
2028			1,640						20,333						7,049						811						11						2,571						20,333						7,133
2029			568						20,333						7,036						258						—						826						20,333						7,111
Later years			230						287,100						3,550						—						—						230						287,100						3,902
Total minimum lease payments			14,636						388,765						38,824						11,861						923						27,573						388,765						40,454
Less: Imputed interest			1,063						154,931						4,414						830						43						1,977						154,932						4,618
Lease liabilities			$	13,573					$	233,834					$	34,410					$	11,031					$	880					$	25,596					$	233,833					$	35,836

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Schedule Of Leases, Supplemental Cash Flows [Table Text Block]

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- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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