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Financing (Tables)

6 Months Ended

Jun. 30, 2025

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

TNMP issued the bonds on July 21, 2025 with the following terms:

Principal Amount						Interest Rate						Due Date
(in thousands)
$	245,000					4.83		%				July 31, 2030
245,000						5.12						July 31, 2032
240,000						5.44						July 31, 2035
100,000						5.54						July 31, 2037
154,300						5.93						July 31, 2045
100,000						6.02						July 31, 2055
$	1,084,300

Schedule of Short-term Debt

Short-term debt outstanding consists of:

			June 30, 2025												December 31, 2024
			Balance Outstanding						Weighted Average Interest Rate						Balance Outstanding						Weighted Average Interest Rate
			(In thousands)												(In thousands)
PNM:
PNM Revolving Credit Facility			$	194,600					5.66%						$	323,800					5.73%
PNM New Mexico Credit Facility			40,000						5.67						40,000						5.81
			234,600												363,800
TNMP Revolving Credit Facility			—						—						151,600						5.37
TXNM Revolving Credit Facility			111,100						5.92						93,900						5.96
			$	345,700											$	609,300

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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