Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes [Line Items]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

PNMR’s income taxes (benefit) from continuing operations consist of the following components:

	Year Ended December 31,
	2011			2010			2009
	(In thousands)
Current federal income tax	$	1,319		$	(52,184	)	$	(81,963	)
Current state income tax	(4,208		)	(15,528		)	(3,770		)
Deferred federal income tax	119,280			28,364			112,707
Deferred state income tax	7,462			9,522			4,393
Amortization of accumulated investment tax credits	(2,318		)	(2,429		)	(2,549		)
Total income taxes (benefit)	$	121,535		$	(32,255	)	$	28,818

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

PNMR’s provision for income taxes from continuing operations differed from the federal income tax computed at the statutory rate for each of the years shown. The differences are attributable to the following factors:

	Year Ended December 31,
	2011			2010			2009
	(In thousands)
Federal income tax at statutory rates	$	109,364		$	(22,183	)	$	33,163
First Choice goodwill	15,055			—			—
Investment tax credits	(2,318		)	(2,429		)	(2,549		)
Flow-through of depreciation items	3,659			3,995			3,777
Earnings attributable to non-controlling interest in Valencia	(4,917		)	(4,747		)	(4,162		)
State income tax	3,395			(6,312		)	344
Other	(2,703		)	(579		)	(1,755		)
Total income taxes (benefit)	$	121,535		$	(32,255	)	$	28,818
Effective tax rate	38.9		%	50.89		%	30.41		%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of PNMR’s net accumulated deferred income tax liability were:

	December 31,
	2011			2010
	(In thousands)
Deferred tax assets:
Net operating loss	$	86,985		$	72,950
Pension	50,515			58,267
Regulatory liabilities related to income taxes	49,413			17,037
Optim Energy	—			46,508
Other	109,875			96,379
Total deferred tax assets	296,788			291,141
Deferred tax liabilities:
Depreciation and plant related	(697,528		)	(579,505		)
Investment tax credit	(15,771		)	(18,089		)
Regulatory assets related to income taxes	(56,312		)	(53,287		)
Stranded costs	(28,439		)	(33,287		)
Other	(168,688		)	(164,282		)
Total deferred tax liabilities	(966,738		)	(848,450		)
Net accumulated deferred income tax liabilities	(669,950		)	(557,309		)
Current accumulated deferred income tax (asset) liability	9,080			(886		)
Non-current accumulated deferred income tax liability	$	(660,870	)	$	(558,195	)

Schedule of Deferred Income Tax Components [Table Text Block]

The following table reconciles the change in PNMR’s net accumulated deferred income tax liability to the deferred income tax benefit included in the Consolidated Statement of Earnings:

	Year Ended
	December 31, 2011
	(In thousands)
Net change in deferred income tax liability per above table	$	112,641
Change in tax effects of income tax related regulatory assets and liabilities	29,427
Tax effect of mark-to-market adjustments	(356		)
Tax effect of excess pension liability	(508		)
Adjustment for uncertain income tax positions	(16,555		)
Other	(225		)
Deferred income taxes	$	124,424

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of unrecognized tax benefits (expenses) is as follows:

	PNMR			PNM			TNMP
	(In thousands)
Balance at December 31, 2008	$	16,388		$	69		$	541
Additions based on tax positions related to 2009	6,633			(287		)	6,255
Reductions for tax positions of prior years	(430		)	—			—
Settlements	—			—			—
Balance at December 31, 2009	22,591			(218		)	6,796
Additions based on tax positions related to 2010	13,514			12,136			992
Reductions for tax positions of prior years	—			—			—
Settlements	—			—			—
Balance at December 31, 2010	36,105			11,918			7,788
Additions based on tax positions related to 2011	(790		)	(717		)	(74		)
Reductions for tax positions of prior years	(15,735		)	(449		)	(13		)
Settlements	—			—			—
Balance at December 31, 2011	$	19,580		$	10,752		$	7,701

Interest Income (Expense) Related to Income Taxes [Table Text Block]

Interest income (expense) related to income taxes is as follows:

	PNMR		PNM		TNMP
	(In thousands)
2011	$	467	$	401	$	2
2010	$	397	$	465	$	(8	)
2009	$	6,418	$	7,746	$	(6	)

Accumulated Accrued Interest Receivable (Payable) Related to Income Taxes [Table Text Block]

Accumulated accrued interest receivable (payable) related to income taxes is as follows:

	PNMR			PNM			TNMP
	(In thousands)
December 31, 2011:
Accumulated accrued interest receivable	$	3,552		$	3,552		$	—
Accumulated accrued interest payable	$	(1,107	)	$	(23	)	$	(113	)
December 31, 2010:
Accumulated accrued interest receivable	$	4,001		$	4,001		$	—
Accumulated accrued interest payable	$	(1,174	)	$	(23	)	$	(115	)

Public Service Company of New Mexico [Member]

Income Taxes [Line Items]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

PNM’s income taxes (benefit) from continuing operations consist of the following components:

	Year Ended December 31,
	2011			2010			2009
	(In thousands)
Current federal income tax	$	(46,364	)	$	(77,691	)	$	(64,342	)
Current state income tax	(6,776		)	438			(13,621		)
Deferred federal income tax	78,673			109,170			77,264
Deferred state income tax	14,212			6,939			16,974
Amortization of accumulated investment tax credits	(2,318		)	(2,429		)	(2,549		)
Total income taxes	$	37,427		$	36,427		$	13,726

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The differences are attributable to the following factors:

	Year Ended December 31,
	2011			2010			2009
	(In thousands)
Federal income tax at statutory rates	$	37,088		$	37,551		$	15,969
Investment tax credits	(2,318		)	(2,429		)	(2,549		)
Flow-through of depreciation items	3,656			3,994			3,776
Earnings attributable to non-controlling interest in Valencia	(4,917		)	(4,747		)	(4,162		)
State income tax	4,797			4,747			1,933
Other	(879		)	(2,689		)	(1,241		)
Total income taxes	$	37,427		$	36,427		$	13,726
Effective tax rate	35.32		%	33.95		%	30.08		%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of PNM’s net accumulated deferred income tax liability were:

	December 31,
	2011			2010
	(In thousands)
Deferred tax assets:
Net operating loss	$	72,615		$	66,320
Pension	54,270			61,055
Regulatory liabilities related to income taxes	43,578			10,779
Other	47,263			52,161
Total deferred tax assets	217,726			190,315
Deferred tax liabilities:
Depreciation and plant related	(570,278		)	(476,533		)
Investment tax credit	(15,771		)	(18,089		)
Regulatory assets related to income taxes	(45,331		)	(42,070		)
Other	(123,098		)	(128,152		)
Total deferred tax liabilities	(754,478		)	(664,844		)
Net accumulated deferred income tax liabilities	(536,752		)	(474,529		)
Current accumulated deferred income tax liability	16,562			9,783
Non-current accumulated deferred income tax liability	$	(520,190	)	$	(464,746	)

Schedule of Deferred Income Tax Components [Table Text Block]

The following table reconciles the change in PNM’s net accumulated deferred income tax liability to the deferred income tax benefit included in the Consolidated Statement of Earnings:

	Year Ended
	December 31, 2011
	(In thousands)
Net change in deferred income tax liability per above table	$	62,223
Change in tax effects of income tax related regulatory assets and liabilities	29,539
Tax effect of mark-to-market adjustments	367
Tax effect of excess pension liability	(360		)
Adjustment for uncertain income tax positions	(1,196		)
Other	(6		)
Deferred income taxes	$	90,567

Texas-New Mexico Power Company [Member]

Income Taxes [Line Items]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

TNMP’s income taxes from continuing operations consist of the following components:

	Year Ended December 31,
	2011			2010			2009
	(In thousands)
Current federal income tax	$	(3,578	)	$	3,532		$	(25,237	)
Current state income tax	1,981			1,766			1,584
Deferred federal income tax	15,507			4,775			31,664
Deferred state income tax	(29		)	(29		)	(26		)
Total income taxes	$	13,881		$	10,044		$	7,985

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The differences are attributable to the following factors:

	Year Ended December 31,
	2011			2010			2009
	(In thousands)
Federal income tax at statutory rates	$	12,648		$	9,109		$	7,053
State income tax	1,288			1,148			1,032
Other	(55		)	(213		)	(100		)
Total income taxes	$	13,881		$	10,044		$	7,985
Effective tax rate	38.41		%	38.59		%	39.63		%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of TNMP’s net accumulated deferred income tax liability at December 31, were:

	December 31,
	2011			2010
	(In thousands)
Deferred tax assets:
Regulatory liabilities related to income taxes	$	5,835		$	6,259
Other	16,043			16,638
Total deferred tax assets	21,878			22,897
Deferred tax liabilities:
Depreciation and plant related	(125,270		)	(103,456		)
Stranded costs	(28,439		)	(33,287		)
Regulatory assets related to income taxes	(10,981		)	(11,217		)
Other	(14,113		)	(15,182		)
Total deferred tax liabilities	(178,803		)	(163,142		)
Net accumulated deferred income tax liabilities	(156,925		)	(140,245		)
Current accumulated deferred income tax (asset)	(2,272		)	(1,876		)
Non-current accumulated deferred income tax liability	$	(159,197	)	$	(142,121	)

Schedule of Deferred Income Tax Components [Table Text Block]

The following table reconciles the change in TNMP’s net accumulated deferred income tax liability to the deferred income tax benefit included in the Consolidated Statement of Earnings:

	Year Ended
	December 31, 2011
	(In thousands)
Net change in deferred income tax liability per above table	$	16,680
Change in tax effects of income tax related regulatory assets and liabilities	(112		)
Tax effect of excess pension liability	(148		)
Adjustments for uncertain income tax positions	(87		)
Other	(855		)
Deferred income taxes	$	15,478