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Financing (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Forward Contracts Indexed to Issuer's Equity Gross cash proceeds shown below were reduced by $2.0 million in issuance costs resulting in net cash proceeds of $198.0 million.
Settlement date
Shares
Settlement price
Settlement amount
(in thousands)
August 18, 2025209,990 $56.75 $11,917 
August 19, 202518,500 56.83 1,051
August 19, 2025200,000 56.51 11,302
August 19, 2025200,000 56.41 11,282
August 20, 20251,000,000 56.41 56,410
August 21, 202564,016 56.57 3,621
August 21, 20251,500,000 56.40 84,600
August 22, 2025135,327 56.58 7,657
August 25, 202541,408 56.60 2,344
August 25, 2025118,819 56.73 6,740
August 26, 202554,317 56.64 3,076
3,542,377 $200,000 
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:
September 30, 2025December 31, 2024
Balance Outstanding
Weighted Average Interest Rate
Balance Outstanding
Weighted Average Interest Rate
(In thousands)
(In thousands)
PNM:
PNM Revolving Credit Facility$118,300 5.49%$323,800 5.73%
PNM New Mexico Credit Facility40,000 5.5140,000 5.81
158,300 363,800 
TNMP Revolving Credit Facility— —151,600 5.37
TXNM Revolving Credit Facility
155,500 5.7793,900 5.96
$313,800 $609,300