Schedule of Net Benefit Costs |
The following table presents the components of the PNM Plans’ net periodic benefit cost:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Pension Plan | | OPEB Plan | | Executive Retirement Program | | 2023 | | 2022 | | 2023 | | 2022 | | 2023 | | 2022 | | (In thousands) | Components of Net Periodic Benefit Cost | | | | | | | | | | | | Service cost | $ | — | | | $ | — | | | $ | — | | | $ | 2 | | | $ | — | | | $ | — | | Interest cost | 5,913 | | | 4,215 | | | 675 | | | 479 | | | 135 | | | 90 | | Expected return on plan assets | (7,299) | | | (7,140) | | | (1,242) | | | (1,088) | | | — | | | — | | Amortization of net loss | 2,646 | | | 3,948 | | | — | | | — | | | 38 | | | 81 | | Amortization of prior service cost | — | | | — | | | — | | | — | | | — | | | — | | Net Periodic Benefit Cost (Income) | $ | 1,260 | | | $ | 1,023 | | | $ | (567) | | | $ | (607) | | | $ | 173 | | | $ | 171 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, | | Pension Plan | | OPEB Plan | | Executive Retirement Program | | 2023 | | 2022 | | 2023 | | 2022 | | 2023 | | 2022 | | (In thousands) | Components of Net Periodic Benefit Cost | | | | | | | | | | | | Service cost | $ | — | | | $ | — | | | $ | — | | | $ | 6 | | | $ | — | | | $ | — | | Interest cost | 17,740 | | | 12,643 | | | 2,027 | | | 1,437 | | | 405 | | | 270 | | Expected return on plan assets | (21,897) | | | (21,422) | | | (3,727) | | | (3,264) | | | — | | | — | | Amortization of net loss | 7,937 | | | 11,846 | | | — | | | — | | | 114 | | | 245 | | Amortization of prior service cost | — | | | — | | | — | | | — | | | — | | | — | | Net Periodic Benefit Cost (Income) | $ | 3,780 | | | $ | 3,067 | | | $ | (1,700) | | | $ | (1,821) | | | $ | 519 | | | $ | 515 | |
The following table presents the components of the TNMP Plans’ net periodic benefit cost:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Pension Plan | | OPEB Plan | | Executive Retirement Program | | 2023 | | 2022 | | 2023 | | 2022 | | 2023 | | 2022 | | (In thousands) | Components of Net Periodic Benefit Cost | | | | | | | | | | | | Service cost | $ | — | | | $ | — | | | $ | 5 | | | $ | 9 | | | $ | — | | | $ | — | | Interest cost | 601 | | | 430 | | | 106 | | | 77 | | | 3 | | | 2 | | Expected return on plan assets | (674) | | | (618) | | | (120) | | | (104) | | | — | | | — | | Amortization of net (gain) loss | 110 | | | 233 | | | (190) | | | (130) | | | — | | | — | | Amortization of prior service cost | — | | | — | | | — | | | — | | | — | | | — | | Net Periodic Benefit Cost (Income) | $ | 37 | | | $ | 45 | | | $ | (199) | | | $ | (148) | | | $ | 3 | | | $ | 2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, | | Pension Plan | | OPEB Plan | | Executive Retirement Program | | 2023 | | 2022 | | 2023 | | 2022 | | 2023 | | 2022 | | (In thousands) | Components of Net Periodic Benefit Cost | | | | | | | | | | | | Service cost | $ | — | | | $ | — | | | $ | 16 | | | $ | 27 | | | $ | — | | | $ | — | | Interest cost | 1,802 | | | 1,290 | | | 319 | | | 231 | | | 9 | | | 8 | | Expected return on plan assets | (2,023) | | | (1,854) | | | (361) | | | (312) | | | — | | | — | | Amortization of net (gain) loss | 329 | | | 699 | | | (570) | | | (390) | | | — | | | — | | Amortization of prior service cost | — | | | — | | | — | | | — | | | — | | | — | | Net Periodic Benefit Cost (Income) | $ | 108 | | | $ | 135 | | | $ | (596) | | | $ | (444) | | | $ | 9 | | | $ | 8 | |
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