Regulatory assets and liabilities reflected in the Consolidated Balance Sheets are presented below.



	PNM						TNMP
	December 31,						December 31,
	2015			2014			2015			2014
Assets:	(In thousands)
Current:
FPPAC	$	—		$	43,980		$	—		$	—
Transmission cost recovery factor	—			—			441			2,482
Energy efficiency costs	—			—			629			1,393
	—			43,980			1,070			3,875
Non-Current:
CTC, including carrying charges	—			—			46,147			55,292
Coal mine reclamation costs	28,303			34,224			—			—
Deferred income taxes	66,990			63,645			10,244			10,556
Loss on reacquired debt	23,627			25,439			35,405			36,703
Pension and OPEB	218,743			222,545			23,356			23,803
AMS surcharge	—			—			1,673			—
AMS retirement costs	—			—			8,549			6,453
Renewable energy costs	—			5,263			—			—
Other	5,247			5,929			2,380			1,155
	342,910			357,045			127,754			133,962
Total regulatory assets	$	342,910		$	401,025		$	128,824		$	137,837
Liabilities:
Current:
FPPAC	$	(11,410	)	$	—		$	—		$	—
Other	(4,181		)	(1,703		)	—			—
	(15,591		)	(1,703		)	—			—
Non-Current:
Cost of removal	(284,015		)	(277,148		)	(26,859		)	(29,391		)
Deferred income taxes	(77,502		)	(75,941		)	(3,283		)	(3,923		)
AROs	(33,747		)	(35,834		)	—			—
Renewable energy tax benefits	(23,697		)	(24,854		)	—			—
AMS surcharge	—			—			—			(5,227		)
Nuclear spent fuel reimbursements	(9,214		)	(3,625		)	—			—
Pension and OPEB	—			—			(1,913		)	(2,121		)
Other	(6,688		)	(8,079		)	(495		)	—
	(434,863		)	(425,481		)	(32,550		)	(40,662		)
Total regulatory liabilities	$	(450,454	)	$	(427,184	)	$	(32,550	)	$	(40,662	)