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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

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- 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

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