Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes [Line Items]

Deferred Income Taxes, Increase (Decrease) In Regulatory Liability and Income Tax Expense [Table Text Block]

	PNMR			PNM			TNMP
	(In thousands)
December 31, 2015:
Regulatory liability	$	(1,903	)	$	(1,903	)	$	—
Income tax expense	$	(674	)	$	(470	)	$	—
December 31, 2014:
Regulatory liability	$	(5,106	)	$	(5,106	)	$	—
Income tax expense	$	(71	)	$	(312	)	$	—
December 31, 2013:
Regulatory liability	$	23,896		$	23,896		$	—
Income tax expense	$	1,233		$	—		$	—

Schedule of Components of Income Tax Expense (Benefit)

PNMR’s income taxes consist of the following components:

	Year Ended December 31,
	2015			2014			2013
	(In thousands)
Current federal income tax	$	—		$	(2,015	)	$	—
Current state income tax	(1,376		)	(728		)	(917		)
Deferred federal income tax	5,488			59,814			50,044
Deferred state income tax	12,305			14,831			12,578
Amortization of accumulated investment tax credits	(1,342		)	(2,164		)	(2,192		)
Total income taxes	$	15,075		$	69,738		$	59,513

Schedule of Effective Income Tax Rate Reconciliation

PNMR’s provision for income taxes 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,
	2015			2014			2013
	(In thousands)
Federal income tax at statutory rates	$	16,154		$	70,226		$	61,274
Amortization of accumulated investment tax credits	(1,342		)	(2,164		)	(2,192		)
Flow-through of depreciation items	1,485			1,344			1,132
Earnings attributable to non-controlling interest in Valencia	(5,218		)	(4,945		)	(5,082		)
State income tax, net of federal benefit	(1,781		)	5,723			3,818
Impairment of state net operating loss carryforwards	5,278			3,129			—
Impairment of state production tax credits	3,092			894			3,880
Allowance for equity funds used during construction	(3,650		)	(1,947		)	(1,534		)
Reversal of deferred items related to BART at SJGS	1,826			—			—
Impairment of charitable contribution carryforward	2,042			—			—
Other	(2,811		)	(2,522		)	(1,783		)
Total income taxes	$	15,075		$	69,738		$	59,513
Effective tax rate	32.66		%	34.76		%	33.99		%

Schedule of Deferred Tax Assets and Liabilities

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

	December 31,
	2015			2014
	(In thousands)
Deferred tax assets:
Net operating loss	$	161,691		$	153,858
Regulatory liabilities related to income taxes	80,031			78,858
Federal tax credit carryforwards	77,417			54,748
Shutdown of SJGS Units 2 and 3	53,823			—
Other	70,749			68,566
Total deferred tax assets	443,711			356,030
Deferred tax liabilities:
Depreciation and plant related	(1,027,047		)	(914,926		)
Investment tax credit	(56,589		)	(36,790		)
Regulatory assets related to income taxes	(71,054		)	(67,910		)
CTC	(16,151		)	(19,352		)
Pension	(65,226		)	(66,498		)
Other	(85,037		)	(115,282		)
Total deferred tax liabilities	(1,321,104		)	(1,220,758		)
Net accumulated deferred income tax liabilities	$	(877,393	)	$	(864,728	)

Reconciliation of Accumulated Deferred Income Tax Liability to Deferred Income Tax Benefit

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, 2015
	(In thousands)
Net change in deferred income tax liability per above table	$	12,665
Change in tax effects of income tax related regulatory assets and liabilities	(1,896		)
Tax effect of mark-to-market adjustments	6,844
Tax effect of excess pension liability	(607		)
Adjustment for uncertain income tax positions	(8,576		)
Reclassification of unrecognized tax benefits	8,576
Other	(555		)
Deferred income taxes	$	16,451

Reconciliation of Unrecognized Tax Benefits (Expenses)

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

	PNMR			PNM			TNMP
	(In thousands)
Balance at December 31, 2012	$	19,198		$	10,382		$	6,796
Additions based on tax positions related to 2013	(54		)	(54		)	—
Additions (reductions) for tax positions of prior years	745			745			—
Settlement payments	—			—			—
Balance at December 31, 2013	19,889			11,073			6,796
Additions based on tax positions related to 2014	623			623			—
Additions (reductions) for tax positions of prior years	(5,481		)	532			(6,796		)
Settlement payments	—			—			—
Balance at December 31, 2014	15,031			12,228			—
Additions based on tax positions related to 2015	1,214			1,214			—
Additions (reductions) for tax positions of prior years	(9,790		)	(9,790		)	—
Settlement payments	—			—			—
Balance at December 31, 2015	$	6,455		$	3,652		$	—

Interest Income (Expense) Related to Income Taxes

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

	PNMR		PNM		TNMP
	(In thousands)
2015	$	—	$	—	$	—
2014	$	146	$	148	$	(2	)
2013	$	242	$	251	$	(2	)

Accumulated Accrued Interest Receivable (Payable) Related to Income Taxes

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

	PNMR			PNM			TNMP
	(In thousands)
December 31, 2015:
Accumulated accrued interest receivable	$	3,236		$	3,236		$	—
Accumulated accrued interest payable	$	(1,120	)	$	(24	)	$	(120	)
December 31, 2014:
Accumulated accrued interest receivable	$	3,569		$	3,569		$	—
Accumulated accrued interest payable	$	(1,120	)	$	(24	)	$	(120	)

Tax Carryforward, Impairments, net of Federal Tax Benefit [Table Text Block]

	PNMR		PNM		TNMP
	(In thousands)
December 31, 2015:
State tax credit carryforwards	$	3,092	$	—	$	—
State net operating loss carryforwards	$	5,278	$	3,619	$	—
Charitable contribution carryforwards	$	2,042	$	—	$	—
December 31, 2014:
State tax credit carryforwards	$	894	$	—	$	—
State net operating loss carryforwards	$	3,129	$	2,145	$	—
December 31, 2013:
State tax credit carryforwards	$	3,880	$	—	$	—

Summary of Tax Credit Carryforwards [Table Text Block]

	PNMR		PNM		TNMP
	(In thousands)
December 31, 2015:
State tax credit carryforwards	$	6,378	$	—	$	—
State net operating loss carryforwards	$	361	$	248	$	—
Charitable contribution carryforwards	$	659	$	—	$	—
December 31, 2014:
State tax credit carryforwards	$	5,492	$	—	$	—
State net operating loss carryforwards	$	3,129	$	2,145	$	—

Public Service Company of New Mexico [Member]

Income Taxes [Line Items]

Schedule of Components of Income Tax Expense (Benefit)

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

	Year Ended December 31,
	2015			2014			2013
	(In thousands)
Current federal income tax	$	(7,934	)	$	(2,175	)	$	(479	)
Current state income tax	(1,988		)	(979		)	(760		)
Deferred federal income tax	(6,827		)	45,890			42,806
Deferred state income tax	5,333			12,061			9,429
Amortization of accumulated investment tax credits	(1,342		)	(2,164		)	(2,192		)
Total income taxes (benefit)	$	(12,758	)	$	52,633		$	48,804

Schedule of Effective Income Tax Rate Reconciliation

The differences are attributable to the following factors:

	Year Ended December 31,
	2015			2014			2013
	(In thousands)
Federal income tax (benefit) at statutory rates	$	(4,579	)	$	53,930		$	53,018
Amortization of accumulated investment tax credits	(1,342		)	(2,164		)	(2,192		)
Flow-through of depreciation items	1,465			1,325			1,115
Earnings attributable to non-controlling interest in Valencia	(5,218		)	(4,945		)	(5,082		)
State income tax, net of federal benefit	(2,162		)	5,522			6,202
Impairment of state net operating loss carryforwards	3,619			2,145			—
Allowance for equity funds used during construction	(3,650		)	(1,947		)	(1,534		)
Reversal of deferred items related to BART at SJGS	1,826			—			—
Reversal of deferred income taxes accrued at prior tax rates	(737		)	(737		)	(737		)
Other	(1,980		)	(496		)	(1,986		)
Total income taxes (benefit)	$	(12,758	)	$	52,633		$	48,804
Effective tax rate	97.52		%	34.16		%	32.22		%

Schedule of Deferred Tax Assets and Liabilities

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

	December 31,
	2015			2014
	(In thousands)
Deferred tax assets:
Net operating loss	$	116,693		$	108,505
Regulatory liabilities related to income taxes	75,889			74,293
Federal tax credit carryforwards	57,928			35,259
Shutdown of SJGS Units 2 and 3	53,823			—
Other	41,210			35,681
Total deferred tax assets	345,543			253,738
Deferred tax liabilities:
Depreciation and plant related	(828,926		)	(733,519		)
Investment tax credit	(56,589		)	(36,790		)
Regulatory assets related to income taxes	(61,018		)	(57,637		)
Pension	(58,070		)	(58,474		)
Other	(37,324		)	(70,714		)
Total deferred tax liabilities	(1,041,927		)	(957,134		)
Net accumulated deferred income tax liabilities	$	(696,384	)	$	(703,396	)

Reconciliation of Accumulated Deferred Income Tax Liability to Deferred Income Tax Benefit

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, 2015
	(In thousands)
Net change in deferred income tax liability per above table	$	(7,012	)
Change in tax effects of income tax related regulatory assets and liabilities	(1,784		)
Tax effect of mark-to-market adjustments	6,872
Tax effect of excess pension liability	(607		)
Adjustment for uncertain income tax positions	(8,576		)
Reclassification of unrecognized tax benefits	8,576
Other	(305		)
Deferred income taxes	$	(2,836	)

Texas-New Mexico Power Company [Member]

Income Taxes [Line Items]

Schedule of Components of Income Tax Expense (Benefit)

TNMP’s income taxes consist of the following components:

	Year Ended December 31,
	2015			2014			2013
	(In thousands)
Current federal income tax	$	1,603		$	35		$	(4,957	)
Current state income tax	1,639			1,939			1,916
Deferred federal income tax	20,904			20,577			20,688
Deferred state income tax	(21		)	(28		)	(26		)
Total income taxes	$	24,125		$	22,523		$	17,621

Schedule of Effective Income Tax Rate Reconciliation

The differences are attributable to the following factors:

	Year Ended December 31,
	2015			2014			2013
	(In thousands)
Federal income tax at statutory rates	$	23,131		$	21,115		$	16,349
State income tax, net of federal benefit	1,065			1,257			1,247
Other	(71		)	151			25
Total income taxes	$	24,125		$	22,523		$	17,621
Effective tax rate	36.50		%	37.33		%	37.72		%

Schedule of Deferred Tax Assets and Liabilities

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

	December 31,
	2015			2014
	(In thousands)
Deferred tax assets:
Regulatory liabilities related to income taxes	$	4,141		$	4,565
Other	6,702			13,429
Total deferred tax assets	10,843			17,994
Deferred tax liabilities:
Depreciation and plant related	(189,322		)	(174,510		)
CTC	(16,151		)	(19,352		)
Regulatory assets related to income taxes	(10,036		)	(10,273		)
Loss on reacquired debt	(12,392		)	(12,846		)
Other	(15,733		)	(12,560		)
Total deferred tax liabilities	(243,634		)	(229,541		)
Net accumulated deferred income tax liabilities	$	(232,791	)	$	(211,547	)

Reconciliation of Accumulated Deferred Income Tax Liability to Deferred Income Tax Benefit

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, 2015
	(In thousands)
Net change in deferred income tax liability per above table	$	21,244
Change in tax effects of income tax related regulatory assets and liabilities	(111		)
Other	(250		)
Deferred income taxes	$	20,883