Public Service Company of New Mexico PFD 4.58% (PNMXO) 10-K 29 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 19, 2016	Jun. 30, 2015
Document Information [Line Items]
Entity Registrant Name	PNM RESOURCES INC
Entity Central Index Key	1,108,426
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		79,653,624
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1,959,479,150
Public Service Company of New Mexico [Member]
Document Information [Line Items]
Entity Registrant Name	PUBLIC SERVICE CO OF NEW MEXICO
Entity Central Index Key	81,023
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		39,117,799
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Texas-New Mexico Power Company [Member]
Document Information [Line Items]
Entity Registrant Name	TEXAS NEW MEXICO POWER CO
Entity Central Index Key	22,767
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		6,358
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	Yes
Entity Current Reporting Status	No

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Electric Operating Revenues	$ 1,439,082	$ 1,435,853	$ 1,387,923
Operating Expenses:
Cost of energy	464,649	471,556	432,316
Administrative and general	179,100	171,111	179,210
Energy production costs	176,752	185,638	175,819
Regulatory disallowances and restructuring costs	167,471	1,062	12,235
Depreciation and amortization	185,919	172,634	166,881
Transmission and distribution costs	69,157	66,571	70,124
Taxes other than income taxes	71,684	67,584	64,496
Total operating expenses	1,314,732	1,136,156	1,101,081
Operating income	124,350	299,697	286,842
Other Income and Deductions:
Interest income	6,498	8,483	10,043
Gains on available-for-sale securities	16,060	10,527	10,612
Other income	26,833	12,048	10,572
Other (deductions)	(12,728)	(10,481)	(21,552)
Net other income and deductions	36,663	20,577	9,675
Interest Charges	114,860	119,627	121,448
Earnings before Income Taxes	46,153	200,647	175,069
Income Taxes	15,075	69,738	59,513
Net Earnings	31,078	130,909	115,556
(Earnings) Attributable to Valencia Non-controlling Interest	(14,910)	(14,127)	(14,521)
Preferred Stock Dividends Requirements	(528)	(528)	(528)
Net Earnings Attributable to Company	15,640	116,254	100,507
Net Earnings (Loss) Available for PNM Common Stock	$ 15,640	$ 116,254	$ 100,507
Net Earnings Attributable to PNMR per Common Share:
Basic (dollars per share)	$ 0.20	$ 1.46	$ 1.26
Diluted (dollars per share)	$ 0.20	$ 1.45	$ 1.25
Public Service Company of New Mexico [Member]
Electric Operating Revenues	$ 1,131,195	$ 1,147,914	$ 1,116,312
Operating Expenses:
Cost of energy	391,131	403,626	374,710
Administrative and general	161,953	152,645	157,144
Energy production costs	176,752	185,638	175,819
Regulatory disallowances and restructuring costs	167,471	1,062	12,235
Depreciation and amortization	115,717	109,524	103,826
Transmission and distribution costs	43,642	43,128	45,936
Taxes other than income taxes	41,149	39,578	37,457
Total operating expenses	1,097,815	935,201	907,127
Operating income	33,380	212,713	209,185
Other Income and Deductions:
Interest income	6,574	8,557	10,182
Gains on available-for-sale securities	16,060	10,527	10,612
Other income	19,347	8,949	7,650
Other (deductions)	(8,493)	(7,218)	(6,974)
Net other income and deductions	33,488	20,815	21,470
Interest Charges	79,950	79,442	79,175
Earnings before Income Taxes	(13,082)	154,086	151,480
Income Taxes	(12,758)	52,633	48,804
Net Earnings	(324)	101,453	102,676
(Earnings) Attributable to Valencia Non-controlling Interest	(14,910)	(14,127)	(14,521)
Preferred Stock Dividends Requirements	(528)	(528)	(528)
Net Earnings Attributable to Company	(15,234)	87,326	88,155
Net Earnings (Loss) Available for PNM Common Stock	(15,762)	86,798	87,627
Texas-New Mexico Power Company [Member]
Electric Operating Revenues	307,887	287,939	271,611
Operating Expenses:
Cost of energy	73,518	67,930	57,606
Administrative and general	36,755	36,982	44,635
Depreciation and amortization	56,285	50,056	50,219
Transmission and distribution costs	25,515	23,443	24,188
Taxes other than income taxes	25,781	23,940	22,778
Total operating expenses	217,854	202,351	199,426
Operating income	90,033	85,588	72,185
Other Income and Deductions:
Other income	4,240	2,865	2,377
Other (deductions)	(504)	(727)	(458)
Net other income and deductions	3,736	2,138	1,919
Interest Charges	27,681	27,396	27,393
Earnings before Income Taxes	66,088	60,330	46,711
Income Taxes	24,125	22,523	17,621
Net Earnings Attributable to Company	$ 41,963	$ 37,807	$ 29,090

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net Earnings	$ 31,078	$ 130,909	$ 115,556
Net Earnings	15,640	116,254	100,507
Unrealized Gains on Available-for-Sale Securities:
Unrealized holding gains (losses) arising during the period, net of income tax (expense) benefit	6,688	10,661	16,564
Reclassification adjustment for (gains) included in net earnings (loss), net of income tax expense	(17,350)	(8,401)	(7,222)
Pension Liability Adjustment:
Experience gain (loss), net of income tax (expense) benefit	(2,679)	(9,258)	10,355
Reclassification adjustment for amortization of experience (gain) loss recognized as net periodic benefit cost, net of income tax (expense) benefit	3,620	3,120	3,840
Fair Value Adjustment for Designated Cash Flow Hedges:
Change in fair market value, net of income tax (expense) benefit	44	(100)	(181)
Reclassification adjustment for (gains) losses included in net earnings (loss), net of income tax expense	0	363	134
Total Other Comprehensive Income (Loss)	(9,677)	(3,615)	23,490
Comprehensive Income	21,401	127,294	139,046
Comprehensive (Income) Attributable to Valencia Non-controlling Interest	(14,910)	(14,127)	(14,521)
Preferred Stock Dividend Requirements of Subsidiary	(528)	(528)	(528)
Comprehensive Income Attributable to PNMR	5,963	112,639	123,997
Public Service Company of New Mexico [Member]
Net Earnings	(324)	101,453	102,676
Net Earnings	(15,234)	87,326	88,155
Unrealized Gains on Available-for-Sale Securities:
Unrealized holding gains (losses) arising during the period, net of income tax (expense) benefit	6,688	10,661	16,564
Reclassification adjustment for (gains) included in net earnings (loss), net of income tax expense	(17,350)	(8,401)	(7,222)
Pension Liability Adjustment:
Experience gain (loss), net of income tax (expense) benefit	(2,679)	(9,258)	10,355
Reclassification adjustment for amortization of experience (gain) loss recognized as net periodic benefit cost, net of income tax (expense) benefit	3,620	3,120	3,840
Fair Value Adjustment for Designated Cash Flow Hedges:
Total Other Comprehensive Income (Loss)	(9,721)	(3,878)	23,537
Comprehensive Income	(10,045)	97,575	126,213
Comprehensive (Income) Attributable to Valencia Non-controlling Interest	(14,910)	(14,127)	(14,521)
Preferred Stock Dividend Requirements of Subsidiary	(528)	(528)	(528)
Comprehensive Income Attributable to PNMR	(24,955)	83,448	111,692
Texas-New Mexico Power Company [Member]
Net Earnings	41,963	37,807	29,090
Fair Value Adjustment for Designated Cash Flow Hedges:
Change in fair market value, net of income tax (expense) benefit	0	(100)	(181)
Reclassification adjustment for (gains) losses included in net earnings (loss), net of income tax expense	0	363	134
Total Other Comprehensive Income (Loss)	0	263	(47)
Comprehensive Income Attributable to PNMR	$ 41,963	$ 38,070	$ 29,043

Consolidated Statements of Com4

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Unrealized holding gains (losses) arising during the period, income tax (expense)	$ (4,310)	$ (6,812)	$ (10,855)
Reclassification adjustment for (gains) included in net earnings (loss), income tax expense	11,181	5,461	4,734
Experience gain (loss), income tax (expense) benefit	1,726	6,024	(6,781)
Reclassification adjustment for amortization of experience (gain) loss recognized as net periodic benefit cost, income tax (expense) benefit	(2,332)	(2,032)	(2,524)
Change in fair market value, income tax (expense)	(28)	53	98
Reclassification adjustment for (gains) losses included in net earnings (loss), income tax expense (benefit)	0	(195)	(73)
Public Service Company of New Mexico [Member]
Unrealized holding gains (losses) arising during the period, income tax (expense)	(4,310)	(6,812)	(10,855)
Reclassification adjustment for (gains) included in net earnings (loss), income tax expense	11,181	5,461	4,734
Experience gain (loss), income tax (expense) benefit	1,726	6,024	(6,781)
Reclassification adjustment for amortization of experience (gain) loss recognized as net periodic benefit cost, income tax (expense) benefit	(2,332)	(2,032)	(2,524)
Texas-New Mexico Power Company [Member]
Change in fair market value, income tax (expense)	0	53	98
Reclassification adjustment for (gains) losses included in net earnings (loss), income tax expense (benefit)	$ 0	$ (195)	$ (73)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Flows From Operating Activities:
Net Earnings	$ 31,078,000	$ 130,909,000	$ 115,556,000
Net Earnings	15,640,000	116,254,000	100,507,000
Adjustments to reconcile net earnings to net cash flows from operating activities:
Depreciation and amortization	222,861,000	209,867,000	208,173,000
Deferred income tax expense	16,451,000	72,481,000	60,430,000
Net unrealized (gains) losses on commodity derivatives	5,188,000	(6,504,000)	(1,866,000)
Realized (gains) on available-for-sale securities	(16,060,000)	(10,527,000)	(10,612,000)
Loss on reacquired debt	0	0	3,253,000
Stock based compensation expense	4,863,000	5,931,000	5,320,000
Regulatory disallowances and restructuring costs	167,471,000	1,062,000	12,235,000
Allowance for equity funds used during construction	(10,430,000)	(5,563,000)	(4,382,000)
Other, net	3,934,000	4,045,000	2,735,000
Changes in certain assets and liabilities:
Accounts receivable and unbilled revenues	(3,298,000)	(4,975,000)	(7,562,000)
Materials, supplies, and fuel stock	(180,000)	5,504,000	(7,580,000)
Other current assets	29,370,000	(30,436,000)	8,577,000
Other assets	2,369,000	290,000	(12,801,000)
Accounts payable	(32,269,000)	(2,311,000)	4,484,000
Accrued interest and taxes	4,957,000	2,040,000	91,537,000
Other current liabilities	2,633,000	(2,453,000)	(19,648,000)
Other liabilities	(42,064,000)	45,516,000	(61,262,000)
Net cash flows from operating activities	386,874,000	414,876,000	386,587,000
Cash Flows From Investing Activities:
Additions to utility and non-utility plant	(558,589,000)	(460,658,000)	(348,039,000)
Proceeds from sales of available-for-sale securities	252,174,000	117,989,000	271,140,000
Purchases of available-for-sale securities	(262,548,000)	(127,016,000)	(282,000,000)
Return of principal on PVNGS lessor notes	21,694,000	20,758,000	23,357,000
Purchase of Rio Bravo	0	(36,235,000)	0
Other, net	2,741,000	(167,000)	4,096,000
Net cash flows from investing activities	(544,528,000)	(485,329,000)	(331,446,000)
Cash Flows From Financing Activities:
Short-term loan	50,000,000	0	0
Revolving credit facilities borrowings (repayments), net	95,000,000	(43,600,000)	(9,500,000)
Long-term borrowings	463,605,000	355,000,000	75,000,000
Repayment of long-term debt	(333,066,000)	(125,000,000)	(29,468,000)
Cash paid in debt exchange	0	0	(13,048,000)
Proceeds from stock option exercise	5,619,000	6,999,000	4,618,000
Purchase of common stock	(17,720,000)	(17,319,000)	(13,807,000)
Dividends paid	(64,251,000)	(59,468,000)	(51,508,000)
Valencia’s transactions with its owner	(17,049,000)	(17,610,000)	(18,335,000)
Other, net	(6,707,000)	(2,808,000)	(5,545,000)
Net cash flows from financing activities	175,431,000	96,194,000	(61,593,000)
Change in Cash and Cash Equivalents	17,777,000	25,741,000	(6,452,000)
Cash and Cash Equivalents at Beginning of Year	28,274,000	2,533,000	8,985,000
Cash and Cash Equivalents at End of Year	46,051,000	28,274,000	2,533,000
Supplemental Cash Flow Disclosures:
Interest paid, net of amounts capitalized	103,382,000	108,741,000	110,768,000
Income taxes paid (refunded), net	(1,890,000)	(2,597,000)	(95,327,000)
Supplemental schedule of noncash investing and financing activities:
Changes in accrued plant additions	(19,080,000)	$ (3,089,000)	(6,006,000)
Premium on long-term debt incurred in connection with debt exchange			36,297,000
Public Service Company of New Mexico [Member]
Cash Flows From Operating Activities:
Net Earnings	(324,000)	$ 101,453,000	102,676,000
Net Earnings	(15,234,000)	87,326,000	88,155,000
Adjustments to reconcile net earnings to net cash flows from operating activities:
Depreciation and amortization	150,538,000	143,303,000	136,732,000
Deferred income tax expense	(2,836,000)	55,787,000	50,043,000
Net unrealized (gains) losses on commodity derivatives	5,188,000	(6,504,000)	(1,866,000)
Realized (gains) on available-for-sale securities	(16,060,000)	(10,527,000)	(10,612,000)
Regulatory disallowances and restructuring costs	167,471,000	1,062,000	12,235,000
Allowance for equity funds used during construction	(10,430,000)	(5,563,000)	(4,382,000)
Other, net	2,794,000	4,172,000	2,768,000
Changes in certain assets and liabilities:
Accounts receivable and unbilled revenues	(2,515,000)	(5,919,000)	(3,021,000)
Materials, supplies, and fuel stock	381,000	5,570,000	(7,730,000)
Other current assets	23,693,000	(29,146,000)	8,556,000
Other assets	4,194,000	7,150,000	(13,363,000)
Accounts payable	(31,139,000)	212,000	2,807,000
Accrued interest and taxes	(5,343,000)	(3,599,000)	72,740,000
Other current liabilities	(275,000)	(659,000)	(27,376,000)
Other liabilities	(33,503,000)	42,325,000	(59,753,000)
Net cash flows from operating activities	251,834,000	299,117,000	260,454,000
Cash Flows From Investing Activities:
Additions to utility and non-utility plant	(404,840,000)	(316,800,000)	(239,906,000)
Proceeds from sales of available-for-sale securities	252,174,000	117,989,000	271,140,000
Purchases of available-for-sale securities	(262,548,000)	(127,016,000)	(282,000,000)
Return of principal on PVNGS lessor notes	21,694,000	20,758,000	23,357,000
Purchase of Rio Bravo	0	(36,235,000)	0
Other, net	2,935,000	(363,000)	3,843,000
Net cash flows from investing activities	(390,585,000)	(341,667,000)	(223,566,000)
Cash Flows From Financing Activities:
Revolving credit facilities borrowings (repayments), net	0	(49,200,000)	28,100,000
Short-term borrowings (repayments) - affiliate, net	0	(32,500,000)	32,500,000
Long-term borrowings	313,605,000	275,000,000	75,000,000
Repayment of long-term debt	(214,300,000)	(75,000,000)	0
Equity contribution from parent	175,000,000	0	0
Dividends paid	(94,968,000)	(30,791,000)	(155,556,000)
Valencia’s transactions with its owner	(17,049,000)	(17,610,000)	(18,335,000)
Other, net	(5,879,000)	(1,890,000)	(2,534,000)
Net cash flows from financing activities	156,409,000	68,009,000	(40,825,000)
Change in Cash and Cash Equivalents	17,658,000	25,459,000	(3,937,000)
Cash and Cash Equivalents at Beginning of Year	25,480,000	21,000	3,958,000
Cash and Cash Equivalents at End of Year	43,138,000	25,480,000	21,000
Supplemental Cash Flow Disclosures:
Interest paid, net of amounts capitalized	69,936,000	73,787,000	71,306,000
Income taxes paid (refunded), net	(1,450,000)	(228,000)	(77,434,000)
Supplemental schedule of noncash investing and financing activities:
Changes in accrued plant additions	(17,469,000)	(1,616,000)	(7,921,000)
Texas-New Mexico Power Company [Member]
Cash Flows From Operating Activities:
Net Earnings	41,963,000	37,807,000	29,090,000
Adjustments to reconcile net earnings to net cash flows from operating activities:
Depreciation and amortization	57,909,000	52,847,000	54,395,000
Deferred income tax expense	20,883,000	20,549,000	20,662,000
Allowance for equity funds used during construction	0	0	0
Other, net	18,000	(10,000)	(30,000)
Changes in certain assets and liabilities:
Accounts receivable and unbilled revenues	(783,000)	944,000	(4,542,000)
Materials, supplies, and fuel stock	(561,000)	(66,000)	150,000
Other current assets	3,928,000	380,000	(1,137,000)
Other assets	(2,310,000)	(6,607,000)	941,000
Accounts payable	(1,782,000)	2,514,000	3,709,000
Accrued interest and taxes	4,317,000	4,796,000	(6,713,000)
Other current liabilities	1,019,000	(203,000)	(3,197,000)
Other liabilities	(9,823,000)	3,112,000	460,000
Net cash flows from operating activities	114,778,000	116,063,000	93,788,000
Cash Flows From Investing Activities:
Additions to utility and non-utility plant	(124,584,000)	(127,191,000)	(89,117,000)
Net cash flows from investing activities	(124,584,000)	(127,191,000)	(89,117,000)
Cash Flows From Financing Activities:
Revolving credit facilities borrowings (repayments), net	54,000,000	5,000,000	0
Short-term borrowings (repayments) - affiliate, net	(10,900,000)	(6,700,000)	1,100,000
Long-term borrowings	0	80,000,000	0
Repayment of long-term debt	0	(50,000,000)	0
Cash paid in debt exchange	0	0	(13,048,000)
Equity contribution from parent	0	0	13,800,000
Dividends paid	(33,248,000)	(16,336,000)	(3,726,000)
Other, net	(46,000)	(836,000)	(2,797,000)
Net cash flows from financing activities	9,806,000	11,128,000	(4,671,000)
Change in Cash and Cash Equivalents	0	0	0
Cash and Cash Equivalents at Beginning of Year	1,000	1,000	1,000
Cash and Cash Equivalents at End of Year	1,000	1,000	1,000
Supplemental Cash Flow Disclosures:
Interest paid, net of amounts capitalized	26,216,000	22,803,000	25,436,000
Income taxes paid (refunded), net	290,000	(355,000)	4,484,000
Supplemental schedule of noncash investing and financing activities:
Changes in accrued plant additions	5,000	$ (854,000)	141,000
Premium on long-term debt incurred in connection with debt exchange			36,297,000
Retained Earnings [Member]
Cash Flows From Operating Activities:
Net Earnings	16,168,000	$ 116,782,000	101,035,000
Cash Flows From Financing Activities:
Valencia’s transactions with its owner			0
Retained Earnings [Member] | Public Service Company of New Mexico [Member]
Cash Flows From Operating Activities:
Net Earnings	(15,234,000)	87,326,000	88,155,000
Cash Flows From Financing Activities:
Valencia’s transactions with its owner		0	0
Retained Earnings [Member] | Texas-New Mexico Power Company [Member]
Cash Flows From Operating Activities:
Net Earnings	$ 41,963,000	$ 37,807,000	$ 29,090,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 46,051,000	$ 28,274,000
Accounts receivable, net of allowance for uncollectible accounts	98,699,000	87,038,000
Unbilled revenues	52,012,000	63,719,000
Other receivables	28,590,000	39,857,000
Materials, supplies, and fuel stock	67,386,000	63,628,000
Regulatory assets	1,070,000	47,855,000
Commodity derivative instruments	3,813,000	11,232,000
Income taxes receivable	5,845,000	6,360,000
Other current assets	82,104,000	58,471,000
Total current assets	385,570,000	406,434,000
Other Property and Investments:
Investment in PVNGS lessor notes	0	9,538,000
Available-for-sale securities	259,042,000	250,145,000
Other investments	604,000	1,762,000
Non-utility property	3,404,000	3,406,000
Total other property and investments	263,050,000	264,851,000
Utility Plant:
Plant in service, held for future use, and to be abandoned	6,307,261,000	5,941,581,000
Less accumulated depreciation and amortization	2,058,772,000	1,939,760,000
Net plant in service and plant held for future use	4,248,489,000	4,001,821,000
Construction work in progress	204,766,000	190,389,000
Nuclear fuel, net of accumulated amortization	82,117,000	77,796,000
Net utility plant	4,535,372,000	4,270,006,000
Deferred Charges and Other Assets:
Regulatory assets	470,664,000	491,007,000
Goodwill	278,297,000	278,297,000
Commodity derivative instruments	2,622,000	0
Other deferred charges	73,753,000	79,642,000
Total deferred charges and other assets	825,336,000	848,946,000
Total assets	6,009,328,000	5,790,237,000
Current Liabilities:
Short-term debt	250,600,000	105,600,000
Current installments of long-term debt	124,979,000	332,871,000
Accounts payable	100,419,000	110,029,000
Customer deposits	12,216,000	12,555,000
Accrued interest and taxes	58,306,000	53,863,000
Regulatory liabilities	15,591,000	1,703,000
Commodity derivative instruments	1,859,000	1,209,000
Dividends declared	17,656,000	16,063,000
Other current liabilities	59,494,000	70,194,000
Total current liabilities	641,120,000	704,087,000
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs	1,966,969,000	1,629,514,000
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	877,393,000	864,728,000
Regulatory liabilities	467,413,000	466,143,000
Asset retirement obligations	111,895,000	104,170,000
Accrued pension liability and postretirement benefit cost	73,097,000	110,738,000
Commodity derivative instruments	0	477,000
Other deferred credits	133,692,000	103,759,000
Total deferred credits and other liabilities	1,663,490,000	1,650,015,000
Total liabilities	$ 4,271,579,000	$ 3,983,616,000
Commitments and Contingencies (See Note [16])
Cumulative Preferred Stock of Subsidiary without mandatory redemption requirements ($100 stated value; 10,000,000 shares authorized; issued and outstanding 115,293 shares)	$ 11,529,000	$ 11,529,000
Company common stockholders’ equity:
Common stock outstanding	1,166,465,000	1,173,845,000
Accumulated other comprehensive income (loss), net of income taxes	(71,432,000)	(61,755,000)
Retained earnings	559,780,000	609,456,000
Total PNMR common stockholders’ equity	1,654,813,000	1,721,546,000
Non-controlling interest in Valencia	71,407,000	73,546,000
Total equity	1,726,220,000	1,795,092,000
Total liabilities and stockholders' equity	6,009,328,000	5,790,237,000
Public Service Company of New Mexico [Member]
Current Assets:
Cash and cash equivalents	43,138,000	25,480,000
Accounts receivable, net of allowance for uncollectible accounts	78,291,000	67,622,000
Unbilled revenues	42,641,000	54,140,000
Other receivables	24,725,000	37,622,000
Affiliate receivables	15,105,000	8,853,000
Materials, supplies, and fuel stock	60,477,000	60,859,000
Regulatory assets	0	43,980,000
Commodity derivative instruments	3,813,000	11,232,000
Income taxes receivable	14,577,000	6,105,000
Other current assets	74,990,000	53,095,000
Total current assets	357,757,000	368,988,000
Other Property and Investments:
Investment in PVNGS lessor notes	0	9,538,000
Available-for-sale securities	259,042,000	250,145,000
Other investments	366,000	397,000
Non-utility property	96,000	96,000
Total other property and investments	259,504,000	260,176,000
Utility Plant:
Plant in service, held for future use, and to be abandoned	4,833,303,000	4,581,066,000
Less accumulated depreciation and amortization	1,569,549,000	1,486,406,000
Net plant in service and plant held for future use	3,263,754,000	3,094,660,000
Construction work in progress	172,238,000	169,673,000
Nuclear fuel, net of accumulated amortization	82,117,000	77,796,000
Net utility plant	3,518,109,000	3,342,129,000
Deferred Charges and Other Assets:
Regulatory assets	342,910,000	357,045,000
Goodwill	51,632,000	51,632,000
Commodity derivative instruments	2,622,000	0
Other deferred charges	66,810,000	73,144,000
Total deferred charges and other assets	463,974,000	481,821,000
Total assets	4,599,344,000	4,453,114,000
Current Liabilities:
Short-term debt - affiliate	0	0
Current installments of long-term debt	124,979,000	214,264,000
Accounts payable	72,386,000	86,055,000
Customer deposits	12,216,000	12,555,000
Affiliate payables	14,318,000	18,232,000
Accrued interest and taxes	33,189,000	29,298,000
Regulatory liabilities	15,591,000	1,703,000
Commodity derivative instruments	1,859,000	1,209,000
Dividends declared	132,000	132,000
Other current liabilities	42,251,000	52,053,000
Total current liabilities	316,921,000	415,501,000
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs	1,455,698,000	1,268,273,000
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	696,384,000	703,396,000
Regulatory liabilities	434,863,000	425,481,000
Asset retirement obligations	111,049,000	103,182,000
Accrued pension liability and postretirement benefit cost	66,285,000	102,850,000
Commodity derivative instruments	0	477,000
Other deferred credits	117,275,000	86,023,000
Total deferred credits and other liabilities	1,425,856,000	1,421,409,000
Total liabilities	$ 3,198,475,000	$ 3,105,183,000
Commitments and Contingencies (See Note [16])
Cumulative Preferred Stock of Subsidiary without mandatory redemption requirements ($100 stated value; 10,000,000 shares authorized; issued and outstanding 115,293 shares)	$ 11,529,000	$ 11,529,000
Company common stockholders’ equity:
Common stock outstanding	1,236,776,000	1,061,776,000
Accumulated other comprehensive income (loss), net of income taxes	(71,476,000)	(61,755,000)
Retained earnings	152,633,000	262,835,000
Total PNMR common stockholders’ equity	1,317,933,000	1,262,856,000
Non-controlling interest in Valencia	71,407,000	73,546,000
Total equity	1,389,340,000	1,336,402,000
Total liabilities and stockholders' equity	4,599,344,000	4,453,114,000
Texas-New Mexico Power Company [Member]
Current Assets:
Cash and cash equivalents	1,000	1,000
Accounts receivable, net of allowance for uncollectible accounts	20,408,000	19,416,000
Unbilled revenues	9,371,000	9,579,000
Other receivables	811,000	2,063,000
Materials, supplies, and fuel stock	6,909,000	2,769,000
Regulatory assets	1,070,000	3,875,000
Other current assets	1,053,000	938,000
Total current assets	39,623,000	38,641,000
Other Property and Investments:
Other investments	238,000	242,000
Non-utility property	2,240,000	2,240,000
Total other property and investments	2,478,000	2,482,000
Utility Plant:
Plant in service, held for future use, and to be abandoned	1,285,727,000	1,182,112,000
Less accumulated depreciation and amortization	406,516,000	375,407,000
Net plant in service and plant held for future use	879,211,000	806,705,000
Construction work in progress	16,561,000	16,538,000
Net utility plant	895,772,000	823,243,000
Deferred Charges and Other Assets:
Regulatory assets	127,754,000	133,962,000
Goodwill	226,665,000	226,665,000
Other deferred charges	4,847,000	4,424,000
Total deferred charges and other assets	359,266,000	365,051,000
Total assets	1,297,139,000	1,229,417,000
Current Liabilities:
Short-term debt	59,000,000	5,000,000
Short-term debt - affiliate	11,800,000	22,700,000
Accounts payable	16,006,000	14,203,000
Affiliate payables	3,681,000	2,469,000
Accrued interest and taxes	32,891,000	28,574,000
Regulatory liabilities	0	0
Other current liabilities	2,044,000	2,271,000
Total current liabilities	125,422,000	75,217,000
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs	361,411,000	361,241,000
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	232,791,000	211,547,000
Regulatory liabilities	32,550,000	40,662,000
Asset retirement obligations	695,000	848,000
Accrued pension liability and postretirement benefit cost	6,812,000	7,888,000
Other deferred credits	4,078,000	7,349,000
Total deferred credits and other liabilities	276,926,000	268,294,000
Total liabilities	$ 763,759,000	$ 704,752,000
Commitments and Contingencies (See Note [16])
Company common stockholders’ equity:
Common stock outstanding	$ 64,000	$ 64,000
Paid-in-capital	404,166,000	404,166,000
Retained earnings	129,150,000	120,435,000
Total PNMR common stockholders’ equity	533,380,000	524,665,000
Total liabilities and stockholders' equity	$ 1,297,139,000	$ 1,229,417,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Allowance for uncollectible accounts	$ 1,397	$ 1,466
Accumulated depreciation, nuclear fuel	$ 44,455	$ 44,507
Cumulative preferred stock of subsidiary, stated value	$ 100	$ 100
Cumulative preferred stock of subsidiary, shares authorized	10,000,000	10,000,000
Cumulative preferred stock of subsidiary, shares issued	115,293	115,293
Cumulative preferred stock of subsidiary, shares outstanding	115,293	115,293
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	79,653,624	79,653,624
Common stock, shares outstanding	79,653,624	79,653,624
Public Service Company of New Mexico [Member]
Allowance for uncollectible accounts	$ 1,397	$ 1,466
Accumulated depreciation, nuclear fuel	$ 44,455	$ 44,507
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	39,117,799	39,117,799
Common stock, shares outstanding	39,117,799	39,117,799
Cumulative preferred stock of subsidiary, stated value	$ 100	$ 100
Cumulative preferred stock of subsidiary, shares authorized	10,000,000	10,000,000
Cumulative preferred stock of subsidiary, shares issued	115,293	115,293
Cumulative preferred stock of subsidiary, shares outstanding	115,293	115,293
Texas-New Mexico Power Company [Member]
Common stock, shares authorized	12,000,000	12,000,000
Common stock, shares issued	6,358	6,358
Common stock, shares outstanding	6,358	6,358
Common stock, par value	$ 10	$ 10
Cumulative preferred stock of subsidiary, shares authorized	1,000,000

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	AOCI [Member]	Retained Earnings [Member]	Total Stockholders' Equity [Member]	Non-controlling Interest in Valencia [Member]	Public Service Company of New Mexico [Member]	Public Service Company of New Mexico [Member]Common Stock [Member]	Public Service Company of New Mexico [Member]AOCI [Member]	Public Service Company of New Mexico [Member]Retained Earnings [Member]	Public Service Company of New Mexico [Member]Total Stockholders' Equity [Member]	Public Service Company of New Mexico [Member]Non-controlling Interest in Valencia [Member]	Texas-New Mexico Power Company [Member]	Texas-New Mexico Power Company [Member]Common Stock [Member]	Texas-New Mexico Power Company [Member]Paid-in Capital [Member]	Texas-New Mexico Power Company [Member]AOCI [Member]	Texas-New Mexico Power Company [Member]Retained Earnings [Member]
Balance at Dec. 31, 2012	$ 1,689,030	$ 1,182,819	$ (81,630)	$ 506,998	$ 1,608,187	$ 80,843	$ 1,334,906	$ 1,061,776	$ (81,414)	$ 273,701	$ 1,254,063	$ 80,843
Balance TNMP at Dec. 31, 2012													$ 463,814	$ 64	$ 390,366	$ (216)	$ 73,600
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from stock option exercise	4,618	4,618			4,618
Purchases to satisfy awards of common stock	(13,807)	13,807			(13,807)
Net Earnings	100,507						88,155						29,090				29,090
Excess tax (shortfall) from stock-based payment arrangements	(581)	(581)			(581)
Stock based compensation expense	5,320	5,320			5,320
Valencia’s transactions with its owner	(18,335)			0	0	18,335	(18,335)		0	0	0
Net earnings	115,556			101,035	101,035	14,521	102,676		0	88,155	88,155	14,521
Preferred Stock Dividends Requirements	(528)			(528)	(528)		(528)		0	(528)	(528)
Total other comprehensive income	23,490		23,490	0	23,490		23,537		23,537	0	23,537		(47)			(47)
Equity contribution from parent							0						13,800		13,800
Dividends declared on common stock	(54,165)			(54,165)	(54,165)		(155,028)		0	(155,028)	(155,028)		(3,726)				(3,726)
Balance at Dec. 31, 2013	1,750,598	1,178,369	(58,140)	553,340	1,673,569	77,029	1,287,228	1,061,776	(57,877)	206,300	1,210,199	77,029
Balance TNMP at Dec. 31, 2013													502,931	64	404,166	(263)	98,964
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from stock option exercise	6,999	6,999			6,999
Purchases to satisfy awards of common stock	(17,319)	17,319			(17,319)
Net Earnings	116,254						87,326						37,807				37,807
Excess tax (shortfall) from stock-based payment arrangements	(135)	(135)			(135)
Stock based compensation expense	5,931	5,931			5,931
Valencia’s transactions with its owner	(17,610)				0	17,610	(17,610)		0	0	0
Net earnings	130,909		0	116,782	116,782	14,127	101,453		0	87,326	87,326	14,127
Preferred Stock Dividends Requirements	(528)		0	(528)	(528)	0	(528)		0	(528)	(528)
Total other comprehensive income	(3,615)		(3,615)	0	(3,615)	0	(3,878)		(3,878)	0	(3,878)		263			$ 263
Equity contribution from parent							0						0
Dividends declared on common stock	(60,138)		0	(60,138)	(60,138)	0	(30,263)		0	(30,263)	(30,263)		(16,336)				(16,336)
Balance at Dec. 31, 2014	1,795,092	1,173,845	(61,755)	609,456	1,721,546	73,546	1,336,402	1,061,776	(61,755)	262,835	1,262,856	73,546
Balance TNMP at Dec. 31, 2014	1,721,546						1,262,856						524,665	64	404,166		120,435
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from stock option exercise	5,619	5,619			5,619
Purchases to satisfy awards of common stock	(17,720)	17,720			(17,720)
Net Earnings	15,640						(15,234)						41,963				41,963
Excess tax (shortfall) from stock-based payment arrangements	(142)	(142)			(142)
Stock based compensation expense	4,863	4,863			4,863
Valencia’s transactions with its owner	(17,049)	0			0	17,049	(17,049)
Net earnings	31,078	0		16,168	16,168	14,910	(324)			(15,234)	(15,234)	14,910
Preferred Stock Dividends Requirements	(528)	0		(528)	(528)		(528)			(528)	(528)
Total other comprehensive income	(9,677)	0	(9,677)	0	(9,677)		(9,721)		(9,721)		(9,721)		0
Equity contribution from parent							175,000	175,000			175,000		0
Dividends declared on common stock	(65,316)	0	0	(65,316)	(65,316)		(94,440)			(94,440)	(94,440)		(33,248)				(33,248)
Balance at Dec. 31, 2015	1,726,220	$ 1,166,465	$ (71,432)	$ 559,780	$ 1,654,813	$ 71,407	1,389,340	$ 1,236,776	$ (71,476)	$ 152,633	$ 1,317,933	$ 71,407
Balance TNMP at Dec. 31, 2015	$ 1,654,813						$ 1,317,933						$ 533,380	$ 64	$ 404,166		$ 129,150

Summary of the Business and Sig

Summary of the Business and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of the Business and Significant Accounting Policies	Summary of the Business and Significant Accounting Policies Nature of Business PNMR is an investor-owned holding company of energy and energy-related businesses. PNMR’s primary subsidiaries are PNM and TNMP. PNM is a public utility with regulated operations primarily engaged in the generation, transmission, and distribution of electricity. TNMP is a wholly owned subsidiary of TNP, which is a holding company that is wholly owned by PNMR. TNMP provides regulated transmission and distribution services in Texas. PNMR’s common stock trades on the New York Stock Exchange under the symbol PNM. Financial Statement Preparation and Presentation The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could ultimately differ from those estimated. The Notes to Consolidated Financial Statements include disclosures for PNMR, PNM, and TNMP. For discussion purposes, this report uses the term “Company” when discussing matters of common applicability to PNMR, PNM, and TNMP. Discussions regarding only PNMR, PNM, or TNMP are so indicated. Certain amounts in the 2014 and 2013 Consolidated Financial Statements and Notes thereto have been reclassified to conform to the 2015 financial statement presentation. GAAP defines subsequent events as events or transactions that occur after the balance sheet date but before financial statements are issued or are available to be issued. Based on their nature, magnitude, and timing, certain subsequent events may be required to be reflected at the balance sheet date and/or required to be disclosed in the financial statements. The Company has evaluated subsequent events as required by GAAP. Principles of Consolidation The Consolidated Financial Statements of each of PNMR, PNM, and TNMP include their accounts and those of subsidiaries in which that entity owns a majority voting interest. PNM also consolidates Valencia (Note 9) and, through January 15, 2016, the PVNGS Capital Trust. PNM owns undivided interests in several jointly-owned power plants and records its pro-rata share of the assets, liabilities, and expenses for those plants. PNMR shared services’ administrative and general expenses, which represent costs that are primarily driven by corporate level activities, are charged to the business segments. These services are billed at cost. Other significant intercompany transactions between PNMR, PNM, and TNMP include interest and income tax sharing payments, as well as equity transactions. All intercompany transactions and balances have been eliminated. See Note 3. Accounting for the Effects of Certain Types of Regulation The Company maintains its accounting records in accordance with the uniform system of accounts prescribed by FERC and adopted by the NMPRC and PUCT. Certain of the Company’s operations are regulated by the NMPRC, PUCT, and FERC and the provisions of GAAP for rate-regulated enterprises are applied to the regulated operations. Regulators may assign costs to accounting periods that differ from accounting methods applied by non-regulated utilities. When it is probable that regulators will permit recovery of costs through future rates, costs are deferred as regulatory assets that otherwise would be expensed. Likewise, regulatory liabilities are recognized when it is probable that regulators will require refunds through future rates or when revenue is collected for expenditures that have not yet been incurred. GAAP also provides for the recognition of revenue and regulatory assets and liabilities associated with “alternative revenue programs” authorized by regulators. Such programs allow the utility to adjust future rates in response to past activities or completed events, if certain criteria are met, even for programs that do not otherwise qualify for recognition of regulatory assets and liabilities. Regulatory assets and liabilities are amortized into earnings over the authorized recovery period. Accordingly, the Company has deferred certain costs and recorded certain liabilities pursuant to the rate actions of the NMPRC, PUCT, and FERC. Information on regulatory assets and regulatory liabilities is contained in Note 4. In some circumstances, regulators allow a requested increase in rates to be implemented, subject to refund, before the regulatory process has been completed and a decision rendered by the regulator. When this occurs, the Company assesses the possible outcomes of the rate proceeding. The Company records a provision for refund to the extent the amounts being collected, subject to refund, exceed the amount the Company determines is probable of ultimately being allowed by the regulator. Competition Transition Charge In connection with the adoption of Senate Bill 7 by the Texas Legislature in 1999 that deregulated electric utilities operating within ERCOT, TNMP was allowed to recover its stranded costs through the CTC and to recover a carrying charge on the CTC. The amounts yet to be collect are recorded as regulatory assets by TNMP. TNMP’s calculation of allowable carrying charges on stranded costs recoverable from its transmission and distribution customers is based on a Texas Supreme Court ruling and the PUCT’s application of that ruling. Cash and Cash Equivalents Investments in highly liquid investments with original maturities of three months or less at the date of purchase are considered cash equivalents. Utility Plant Utility plant is stated at cost, which includes capitalized payroll-related costs such as taxes, pension, and other fringe benefits, administrative costs, and AFUDC where authorized by rate regulation. Repairs, including major maintenance activities, and minor replacements of property are expensed when incurred, except as required by regulators for ratemaking purposes. Major replacements are charged to utility plant. Gains or losses resulting from retirements or other dispositions of regulated property in the normal course of business are credited or charged to accumulated depreciation. Depreciation and Amortization PNM’s provision for depreciation and amortization of utility plant, other than nuclear fuel, is based upon composite straight-line rates approved by the NMPRC. Amortization of nuclear fuel is based on units-of-production. TNMP’s provision for depreciation and amortization of utility plant is based upon straight-line rates approved by the PUCT. Depreciation of non-utility property is computed based on the straight-line method. The provision for depreciation of certain equipment is allocated between operating expenses and construction projects based on the use of the equipment. Average straight-line rates used were as follows: Year ended December 31 2015 2014 2013 PNM Electric plant 2.27 % 2.26 % 2.27 % Common, intangible, and general plant 4.66 % 4.64 % 4.87 % TNMP 3.94 % 3.59 % 3.66 % Allowance for Funds Used During Construction As provided by the FERC uniform systems of accounts, AFUDC is charged to regulated utility plant for construction projects. This allowance is a non-cash item designed to enable a utility to capitalize financing costs during periods of construction of property subject to rate regulation. It represents the cost of borrowed funds (allowance for borrowed funds used during construction) and a return on other funds (allowance for equity funds used during construction). The allowance for borrowed funds used during construction is recorded in interest charges and the allowance for equity funds used during construction is recorded in other income on the Consolidated Statements of Earnings. For the years ended December 31, 2015 , 2014 , and 2013 , PNM recorded $7.8 million , $4.2 million , and $3.3 million of allowance for borrowed funds used during construction and $10.4 million , $5.6 million , and $4.4 million of allowance for equity funds used during construction. TNMP recorded $0.5 million , $0.5 million , and $0.4 million of allowance for borrowed funds used during construction and zero , zero , and zero of allowance for equity funds used during construction. Capitalized Interest The Company capitalizes interest on its construction projects and major computer software projects not subject to the computation of AFUDC. Interest was capitalized at the overall weighted average borrowing rate of 6.6% , 6.6% , and 6.9% for 2015 , 2014 , and 2013 . In 2015 , 2014 , and 2013 , capitalized interest was $1.5 million , $1.6 million , and $1.5 million for PNMR consolidated; $0.8 million , $1.1 million , and $1.1 million for PNM; and $0.1 million , $0.1 million , and zero for TNMP. Materials, Supplies, and Fuel Stock Materials and supplies relate to transmission, distribution, and generating assets. Materials and supplies are charged to inventory when purchased and are expensed or capitalized as appropriate when issued. Materials and supplies are valued using an average costing method. Coal is valued using a rolling weighted average costing method that is updated based on the current period cost per ton. Periodic aerial surveys are performed on the coal piles and adjustments are made. Average cost is equal to net realizable value under the ratemaking process. Inventories consisted of the following at December 31 : PNMR PNM TNMP 2015 2014 2015 2014 2015 2014 (In thousands) Coal $ 18,356 $ 17,525 $ 18,356 $ 17,525 $ — $ — Materials and supplies 49,030 46,103 42,121 43,334 6,909 2,769 $ 67,386 $ 63,628 $ 60,477 $ 60,859 $ 6,909 $ 2,769 Investments In 1985 and 1986, PNM entered into eleven operating leases for interests in certain PVNGS generation facilities (Note 7). The 10.3% and 10.15% lessor notes that were issued by the owners of the assets subject to these leases were subsequently purchased and held by the PVNGS Capital Trust, which was consolidated by PNM. The PVNGS Capital Trust held certain of the lessor notes to their maturities in January 2015 and January 2016. Upon final maturity of the lessor notes, the PVNGS Capital Trust ceased to exist. The PVNGS lessor notes were carried at amortized cost. PNM holds investment securities in the NDT for the purpose of funding its share of the decommissioning costs of PVNGS and a trust for PNM’s share of post-term reclamation costs related to the coal mines serving SJGS (Note 16). All of these investments are classified as available-for-sale. PNM evaluates the securities for impairment on an on-going basis. Since third party investment managers have sole discretion over the purchase and sales of the securities, PNM records a realized loss as an impairment for any security that has a market value that is less than cost at the end of each quarter. For the years ended December 31, 2015 , 2014 , and 2013 , PNM recorded impairment losses on the available-for-sale securities held in the NDT and coal mine reclamation trust of $10.4 million , $4.8 million , and $3.5 million . No gains or losses are deferred as regulatory assets or liabilities. Unrealized gains on these investments, net of related tax effects, are included in OCI and AOCI. The available-for-sale securities are primarily comprised of international, United States, state, and municipal government obligations and corporate debt and equity securities. All investments are held in PNM’s name and are in the custody of major financial institutions. The specific identification method is used to determine the cost of securities disposed of, with realized gains and losses reflected in other income and deductions. Goodwill Under GAAP, the Company does not amortize goodwill. Goodwill is evaluated for impairment annually, or more frequently if events and circumstances indicate that the goodwill might be impaired. See Note 19. Asset Impairment Tangible long-lived assets are evaluated in relation to the estimated future undiscounted cash flows to assess recoverability when events and circumstances indicate that the assets might be impaired. Revenue Recognition Electric operating revenues are recorded in the period of energy delivery, which includes estimated amounts for service rendered but unbilled at the end of each accounting period. The determination of the energy sales to individual customers is based on the reading of their meters, which occurs on a systematic basis throughout the month. At the end of each month, amounts of energy delivered to customers since the date of the last meter reading and the corresponding unbilled revenue are estimated. Unbilled electric revenue is estimated based on the daily generation volumes, estimated customer usage by class, weather factors, line losses, and applicable customer rates reflecting historical trends and experience. PNM’s wholesale electricity sales are recorded as electric operating revenues and the wholesale electricity purchases are recorded as costs of energy sold. In accordance with GAAP, derivative contracts that are net settled or “booked-out” are recorded net in earnings. A book-out is the planned or unplanned netting of off-setting purchase and sale transactions. A book-out is a transmission mechanism to reduce congestion on the transmission system or administrative burden. For accounting purposes, a book-out is the recording of net revenues upon the settlement of a derivative contract. Unrealized gains and losses on contracts that do not qualify for the normal purchases or normal sales exception or are not designated for hedge accounting are classified as economic hedges. Economic hedges are defined as derivative instruments, including long-term power and fuel supply agreements, used to hedge generation assets and purchased power costs. Changes in the fair value of economic hedges are reflected in results of operations, with changes related to economic hedges on sales included in operating revenues and changes related to economic hedges on purchases included in cost of energy sold. Accounts Receivable and Allowance for Uncollectible Accounts Accounts receivable consists primarily of trade receivables from customers. In the normal course of business, credit is extended to customers on a short-term basis. The Company calculates the allowance for uncollectible accounts based on historical experience and estimated default rates. The accounts receivable balances are reviewed monthly and adjustments to the allowance for uncollectible accounts and bad debt expense are made as necessary. Amounts that are deemed uncollectible are written off. Amortization of Debt Acquisition Costs Discount, premium, and expense related to the issuance of long-term debt are amortized over the lives of the respective issues. Gains and losses incurred upon the early retirement of long-term debt are recognized in other income or other deductions, except for amounts attributable to NMPRC, FERC, or PUCT regulation, which are recorded as regulatory assets or liabilities and amortized over the lives of the respective issues. See Note 6 for information regarding the adoption of a new accounting standard that requires a change in presentation of unamortized debt issuance costs on the Consolidated Balance Sheets. Derivatives The Company records derivative instruments, including energy contracts, other than those designated as normal purchases or normal sales, in the balance sheet as either an asset or liability measured at their fair value. GAAP requires that changes in the derivatives’ fair value be recognized currently in earnings unless specific hedge accounting or normal purchase or normal sale criteria are met. Normal purchases and normal sales are not marked to market and are reflected in results of operations when the underlying transactions settle. For qualifying hedges, an entity must formally document, designate, and assess the effectiveness of transactions that receive hedge accounting. GAAP provides that the effective portion of the gain or loss on a derivative instrument designated and qualifying as a cash flow hedging instrument be reported as a component of AOCI and be reclassified into earnings in the period during which the hedged forecasted transaction affects earnings. The results of hedge ineffectiveness and the portion of the change in fair value of a derivative that an entity has chosen to exclude from hedge effectiveness are required to be presented in current earnings. See Note 6 and Note 8. The Company treats all forward commodity purchases and sales contracts subject to unplanned netting or book-out by the transmission provider as derivative instruments subject to mark-to-market accounting, unless the contract qualifies for the normal exception by meeting the definition of a capacity contract. Under this definition, the contract cannot permit net settlement, the seller must have the resources to serve the contract, and the buyer must be a load serving entity. GAAP provides guidance on whether realized gains and losses on derivative contracts not held for trading purposes should be reported on a net or gross basis and concludes such classification is a matter of judgment that depends on the relevant facts and circumstances. Decommissioning and Reclamation Costs PNM owns and leases nuclear and fossil-fuel generating facilities. In accordance with GAAP, PNM is only required to recognize and measure decommissioning liabilities for tangible long-lived assets for which a legal obligation exists. Nuclear decommissioning costs and related accruals are based on periodic site-specific estimates of the costs for removing all radioactive and other structures at PVNGS and are dependent upon numerous assumptions, including estimates of future decommissioning costs at current price levels, inflation rates, and discount rates. PNM’s accruals for PVNGS Units 1, 2, and 3, including portions held under leases, have been made based on such estimates, the guidelines of the NRC, and the extended PVNGS license periods. PVNGS Units 1 and 2 are included in PNM’s retail rates while PVNGS Unit 3 is currently excluded. PNM collects a provision for ultimate decommissioning of PVNGS Units 1 and 2 and its fossil-fueled generation facilities in its rates and recognizes a corresponding expense and liability for these amounts. See Note 15 and Note 16. In connection with both the SJGS coal agreement and the Four Corners fuel agreement, the owners are required to reimburse the mining companies for the cost of contemporaneous reclamation, as well as the costs for final reclamation of the coal mines. The reclamation costs are based on periodic site-specific studies that estimate the costs to be incurred in the future and are dependent upon numerous assumptions, including estimates of future reclamation costs at current price levels, inflation rates, and discount rates. PNM considers the contemporaneous reclamation costs part of the cost of its delivered coal costs. See Note 16 for a discussion of the final reclamation costs. Environmental Costs The normal operations of the Company involve activities and substances that expose the Company to potential liabilities under laws and regulations protecting the environment. Liabilities under these laws and regulations can be material and in some instances may be imposed without regard to fault, or may be imposed for past acts, even though the past acts may have been lawful at the time they occurred. The Company records its environmental liabilities when site assessments or remedial actions are probable and a range of reasonably likely cleanup costs can be estimated. The Company reviews its sites and measures the liability by assessing a range of reasonably likely costs for each identified site using currently available information and the probable level of involvement and financial condition of other potentially responsible parties. These estimates are based on assumptions regarding the costs for site investigations, remediation, operations and maintenance, monitoring, and site closure. The ultimate cost to clean up the Company’s identified sites may vary from its recorded liability due to numerous uncertainties inherent in the estimation process. Amounts recorded for environmental expense in the years ended December 31, 2015 , 2014 , and 2013 , as well as the amounts of environmental liabilities at December 31, 2015 and 2014 were insignificant. Pension and Other Postretirement Benefits See Note 12 for a discussion of pension and postretirement benefits expense, including a discussion of the actuarial assumptions. Stock-Based Compensation See Note 13 for a discussion of stock-based compensation expense. Income Taxes Income taxes are recognized using the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying value of existing assets and liabilities and their respective tax basis. Current NMPRC, FERC, and PUCT approved rates include the tax effects of the majority of these differences. GAAP requires that rate-regulated enterprises record deferred income taxes for temporary differences accorded flow-through treatment at the direction of a regulatory commission. The resulting deferred tax assets and liabilities are recorded at the expected cash flow to be reflected in future rates. Because the NMPRC, FERC, and the PUCT have consistently permitted the recovery of tax effects previously flowed-through earnings, the Company has established regulatory liabilities and assets offsetting such deferred tax assets and liabilities. The Company recognizes only the impact of tax positions that, based on their merits, are more likely than not to be sustained upon an IRS audit. The Company defers investment tax credits related to rate regulated assets and amortizes them over the estimated useful lives of those assets. See Note 11. The Company makes an estimate of its anticipated effective tax rate for the year as of the end of each quarterly period within its fiscal year. In interim periods, income tax expense is calculated by applying the anticipated annual effective tax rate to year-to-date earnings before taxes, which includes the earnings attributable to the Valencia non-controlling interest. GAAP also provides that certain unusual or infrequently occurring items, as well as adjustments due to enactment of new tax laws, be excluded from the estimated annual effective tax rate calculation. Excise Taxes The Company pays certain fees or taxes which are either considered to be an excise tax or similar to an excise tax. Substantially all of these taxes are recorded on a net basis in the Consolidated Statements of Earnings. New Accounting Pronouncements Information concerning recently issued accounting pronouncements that have not been adopted by the Company is presented below. Accounting Standards Update 2014-09 – Revenue from Contracts with Customers (Topic 606) On May 28, 2014, the FASB issued ASU No. 2014-09. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard will replace most existing revenue recognition guidance in GAAP when it becomes effective. On August 12, 2015, the FASB issued a one-year deferral in the effective date. The Company must now adopt the new standard beginning on January 1, 2018. Early adoption would be permitted beginning January 1, 2017. The standard permits the use of either the retrospective or cumulative effect transition method. The Company has not yet selected a transition method although it is unlikely the Company would elect to early adopt the new standard. The Company is analyzing the impacts this new standard will have on its consolidated financial statements and related disclosures, but has not determined the effect of the standard on its ongoing financial reporting. Accounting Standards Update 2014-15 – Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern On August 27, 2014, the FASB issued ASU No. 2014-15, which requires management to evaluate whether there is substantial doubt about a company’s ability to continue as a going concern in connection with the preparation of financial statements for each annual and interim reporting period. Disclosure requirements associated with management’s evaluation are also outlined in the new guidance. The new standard is effective for the Company for reporting periods ending after December 15, 2016, with early adoption permitted. The Company is in the process of analyzing the impacts of this new standard. Accounting Standards Update 2016-01 – Financial Instruments (Subtopic 825-10) – Recognition and Measurement of Financial Assets and Financial Liabilities On January 5, 2016, the FASB issued ASU No. 2016-01, which makes targeted improvements to GAAP regarding financial instruments. The new standard eliminates the requirement to classify investments in equity securities with readily determinable fair values into trading or available-for-sale categories and now requires those equity securities to be measured at fair value with changes in fair value recognized in net income rather than in OCI. The new standard also revises certain presentation and disclosure requirements. Under the new standard, accounting for investments in debt securities remains essentially unchanged. The new standard will be effective for the Company beginning on January 1, 2018. Early adoption of the standard is permitted. The Company is in the process of analyzing the impacts of this new standard. Accounting Standards Update 2016-02 – Leases (Topic 842) On February 25, 2016, the FASB issued ASU No. 2016-02, which will change how lessees account for leases. The ASU will require that a liability be recorded on the balance sheet for all leases based on the present value of future lease obligations. A corresponding right-of-use asset will also be recorded. Amortization of the lease obligation and the right-of-use asset for certain leases, primarily those currently classified as operating leases, will be on a straight-line basis, which is not expected to have a significant impact on the statements of earnings or cash flows, whereas other leases will be required to be accounted for as financing arrangements similar to the accounting treatment for capital leases under current GAAP. The new standard also revises certain disclosure requirements. The new standard will be effective for the Company beginning on January 1, 2019. Early adoption of the standard is permitted. At adoption of the ASU, leases will be recognized and measured as of the earliest period presented using a modified retrospective approach. Since this ASU was only recently issued, the Company has not yet begun the process of analyzing the impacts of this new standard.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information The following segment presentation is based on the methodology that management uses for making operating decisions and assessing performance of its various business activities. A reconciliation of the segment presentation to the GAAP financial statements is provided. PNM PNM includes the retail electric utility operations of PNM that are subject to traditional rate regulation by the NMPRC. PNM provides integrated electricity services that include the generation, transmission, and distribution of electricity for retail electric customers in New Mexico. PNM also includes the generation and sale of electricity into the wholesale market, as well as providing transmission services to third parties. The sale of electricity includes the asset optimization of PNM’s jurisdictional assets as well as the capacity excluded from retail rates. FERC has jurisdiction over wholesale and transmission rates. TNMP TNMP is an electric utility providing regulated transmission and distribution services in Texas under the TECA. TNMP’s operations are subject to traditional rate regulation by the PUCT. Corporate and Other The Corporate and Other segment includes PNMR holding company activities, primarily related to corporate level debt and PNMR Services Company. The following tables present summarized financial information for PNMR by segment. PNM and TNMP each operate in only one segment. Therefore, tabular segment information is not presented for PNM and TNMP. PNMR SEGMENT INFORMATION 2015 PNM TNMP Corporate and Other Consolidated (In thousands) Electric operating revenues $ 1,131,195 $ 307,887 $ — $ 1,439,082 Cost of energy 391,131 73,518 — 464,649 Margin 740,064 234,369 — 974,433 Other operating expenses 590,967 88,051 (14,854 ) 664,164 Depreciation and amortization 115,717 56,285 13,917 185,919 Operating income 33,380 90,033 937 124,350 Interest income 6,574 — (76 ) 6,498 Other income (deductions) 26,914 3,736 (485 ) 30,165 Interest charges (79,950 ) (27,681 ) (7,229 ) (114,860 ) Segment earnings (loss) before income taxes (13,082 ) 66,088 (6,853 ) 46,153 Income taxes (benefit) (12,758 ) 24,125 3,708 15,075 Segment earnings (loss) (324 ) 41,963 (10,561 ) 31,078 Valencia non-controlling interest (14,910 ) — — (14,910 ) Subsidiary preferred stock dividends (528 ) — — (528 ) Segment earnings (loss) attributable to PNMR $ (15,762 ) $ 41,963 $ (10,561 ) $ 15,640 At December 31, 2015: Total Assets $ 4,599,344 $ 1,297,139 $ 112,845 $ 6,009,328 Goodwill $ 51,632 $ 226,665 $ — $ 278,297 2014 PNM TNMP Corporate and Other Consolidated Electric operating revenues $ 1,147,914 $ 287,939 $ — $ 1,435,853 Cost of energy 403,626 67,930 — 471,556 Margin 744,288 220,009 — 964,297 Other operating expenses 422,051 84,365 (14,450 ) 491,966 Depreciation and amortization 109,524 50,056 13,054 172,634 Operating income 212,713 85,588 1,396 299,697 Interest income 8,557 — (74 ) 8,483 Other income (deductions) 12,258 2,138 (2,302 ) 12,094 Interest charges (79,442 ) (27,396 ) (12,789 ) (119,627 ) Segment earnings (loss) before income taxes 154,086 60,330 (13,769 ) 200,647 Income taxes (benefit) 52,633 22,523 (5,418 ) 69,738 Segment earnings (loss) 101,453 37,807 (8,351 ) 130,909 Valencia non-controlling interest (14,127 ) — — (14,127 ) Subsidiary preferred stock dividends (528 ) — — (528 ) Segment earnings (loss) attributable to PNMR $ 86,798 $ 37,807 $ (8,351 ) $ 116,254 At December 31, 2014: Total Assets $ 4,453,114 $ 1,229,417 $ 107,706 $ 5,790,237 Goodwill $ 51,632 $ 226,665 $ — $ 278,297 2013 PNM TNMP Corporate and Other Consolidated Electric operating revenues $ 1,116,312 $ 271,611 $ — $ 1,387,923 Cost of energy 374,710 57,606 — 432,316 Margin 741,602 214,005 — 955,607 Other operating expenses 428,591 91,601 (18,308 ) 501,884 Depreciation and amortization 103,826 50,219 12,836 166,881 Operating income 209,185 72,185 5,472 286,842 Interest income 10,182 — (139 ) 10,043 Other income (deductions) 11,288 1,919 (13,575 ) (368 ) Interest charges (79,175 ) (27,393 ) (14,880 ) (121,448 ) Segment earnings (loss) before income taxes 151,480 46,711 (23,122 ) 175,069 Income taxes (benefit) 48,804 17,621 (6,912 ) 59,513 Segment earnings (loss) 102,676 29,090 (16,210 ) 115,556 Valencia non-controlling interest (14,521 ) — — (14,521 ) Subsidiary preferred stock dividends (528 ) — — (528 ) Segment earnings (loss) attributable to PNMR $ 87,627 $ 29,090 $ (16,210 ) $ 100,507 At December 31, 2013: Total Assets $ 4,174,261 $ 1,151,327 $ 101,270 $ 5,426,858 Goodwill $ 51,632 $ 226,665 $ — $ 278,297 Major Customers No individual customer accounted for more than 10% of the electric operating revenues of PNMR or PNM. Three customers of TNMP accounted for 16% in 2015 , 15% in 2014 , and 16% in 2013 ; 13% in 2015, 15% in 2014, and 17% in 2013; and 11% in 2015 , 11% in 2014 , and 10% in 2013 of TNMP’s electric operating revenues.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions PNMR, PNM, and TNMP are considered related parties as defined under GAAP. PNMR Services Company provides corporate services to PNMR and its subsidiaries in accordance with shared services agreements. These services are billed at cost on a monthly basis to the business units. PNMR files a consolidated federal income tax return with its affiliated companies. A tax allocation agreement exists between PNMR and each of its affiliated companies. These agreements provide that the subsidiary company will compute its taxable income on a stand-alone basis. If the result is a net tax liability, such amount shall be paid to PNMR. If there are net operating losses and/or tax credits, the subsidiary shall receive payment for the tax savings from PNMR to the extent that PNMR is able to utilize those benefits. See Note 6 for information on intercompany borrowing arrangements. The table below summarizes the nature and amount of related party transactions of PNMR, PNM and TNMP: Year Ended December 31, 2015 2014 2013 (In thousands) Services billings: PNMR to PNM $ 90,827 $ 86,871 $ 92,597 PNMR to TNMP 28,109 28,349 28,937 PNM to TNMP 554 524 562 TNMP to PNMR 41 31 7 Income tax sharing payments: PNMR to TNMP — — — PNMR to PNM 1,450 — 77,433 TNMP to PNMR — — 3,643 Interest payments: PNM to PNMR 54 65 4 TNMP to PNMR 276 309 481

Regulatory Assets and Liabiliti

Regulatory Assets and Liabilities	12 Months Ended
	Dec. 31, 2015
Regulated Operations [Abstract]
Regulatory Assets and Liabilities	Regulatory Assets and Liabilities The operations of PNM and TNMP are regulated by the NMPRC, PUCT, and FERC and the provisions of GAAP for rate-regulated enterprises are applied to its regulated operations. Regulatory assets represent probable future recovery of previously incurred costs that will be collected from customers through the ratemaking process. Regulatory liabilities represent probable future reductions in revenues associated with amounts that are to be credited to customers through the ratemaking process. 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 ) The Company’s regulatory assets and regulatory liabilities are reflected in rates charged to customers or have been addressed in a regulatory proceeding. The Company does not receive or pay a rate of return on the following regulatory assets and regulatory liabilities (and their remaining amortization periods): coal mine reclamation costs (through 2020); deferred income taxes (over the remaining life of the taxable item, up to the remaining life of utility plant); pension and OPEB costs (through 2033); and AROs (to be determined in a future regulatory proceeding). In addition, TNMP does not receive a return on substantially all of its loss on reacquired debt (through 2043). The Company is permitted, under rate regulation, to accrue and record a regulatory liability for the estimated cost of removal and salvage associated with certain of its assets through depreciation expense. Under GAAP, actuarial losses and prior service costs for pension plans are required to be recorded in AOCI; however, to the extent authorized for recovery through the regulatory process these amounts are recorded as regulatory assets or liabilities. Based on prior regulatory approvals, the amortization of these amounts will be included in the Company’s rates. Based on a current evaluation of the various factors and conditions that are expected to impact future cost recovery, the Company believes that future recovery of its regulatory assets are probable.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Common Stock and Equity Contributions PNMR, PNM, and TNMP did not issue any common stock during the three year period ended December 31, 2015 . PNMR funded a cash equity contribution of $175.0 million to PNM in 2015 and $13.8 million to TNMP in 2013. PNMR offers shares of PNMR common stock through the PNMR Direct Plan. PNMR utilizes shares of its common stock purchased on the open market, by an independent agent, rather than issuing additional shares to satisfy subscriptions under the PNMR Direct Plan. The shares of PNMR common stock utilized in the PNMR Direct Plan are offered under a SEC shelf registration statement that expires in August 2018. Dividends on Common Stock The declaration of common dividends by PNMR is dependent upon a number of factors, including the ability of PNMR’s subsidiaries to pay dividends. PNMR’s primary sources of dividends are its operating subsidiaries. PNM declared and paid cash dividends to PNMR of $94.4 million , $30.3 million , and $155.0 million in 2015 , 2014 , and 2013 . TNMP paid cash dividends to PNMR of $33.2 million , $16.3 million , and $3.7 million in 2015 , 2014 , and 2013 . The NMPRC has placed certain restrictions on the ability of PNM to pay dividends to PNMR, including the restriction that PNM cannot pay dividends that cause its debt rating to fall below investment grade. The NMPRC provisions allow PNM to pay dividends from current earnings, determined on a rolling four quarter basis, and from equity contributions previously made by PNMR without prior NMPRC approval. The Federal Power Act also imposes certain restrictions on dividends by public utilities. The Company’s revolving credit facilities and term loans contain a covenant requiring the maintenance of debt-to-capital ratios of not more than 65% , which could limit amounts of dividends that could be paid. For PNMR and PNM, these ratios reflect the present value of payments under the PVNGS leases as debt. PNM also has other financial covenants that limit the transfer of assets, through dividends or other means, including a requirement to obtain approval of certain financial counterparties to transfer more than five percent of PNM’s assets. As of December 31, 2015 , none of the numerical tests would restrict the payment of dividends from the retained earnings of PNMR, PNM, or TNMP, except that PNM would not be able to distribute amounts in excess of approximately $153 million and TNMP would not be able to distribute amounts in excess of approximately $195 million without approval of regulators or financial counterparties. In addition, the ability of PNMR to declare dividends is dependent upon the extent to which cash flows will support dividends, the availability of retained earnings, financial circumstances and performance, current and future regulatory decisions, Congressional and legislative acts, and economic conditions. Conditions imposed by the NMPRC or PUCT, future growth plans and related capital requirements, and business considerations may also affect PNMR’s ability to pay dividends. Preferred Stock PNM’s cumulative preferred shares outstanding bear dividends at 4.58% per annum. PNM preferred stock does not have a mandatory redemption requirement, but may be redeemed, at PNM’s option, at 102% of the stated value plus accrued dividends. The holders of the PNM preferred stock are entitled to payment before the holders of common stock in the event of any liquidation or dissolution or distribution of assets of PNM. In addition, PNM’s preferred stock is not entitled to a sinking fund and cannot be converted into any other class of stock of PNM. PNMR and TNMP have no preferred stock outstanding. The authorized shares of PNMR and TNMP preferred stock are 10 million shares and 1 million shares.

Financing

Financing	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Financing	Financing The Company’s financing strategy includes both short-term and long-term borrowings. The Company utilizes short-term revolving credit facilities, as well as cash flows from operations, to provide funds for both construction and operating expenditures. Depending on market and other conditions, the Company will periodically sell long-term debt or enter into term loan arrangements and use the proceeds to reduce borrowings under the revolving credit facilities. Each of the revolving credit facilities and the Company’s term loans contains one financial covenant that requires the maintenance of debt-to-capital ratios of less than or equal to 65% (for PNMR and PNM, these ratios reflect the present value of payments under the PVNGS leases as debt) and generally include customary covenants, events of default, cross default provisions and change of control provisions. PNM must obtain NMPRC approval for any financing transaction having a maturity of more than 18 months. In addition, PNM files its annual short-term financing plan with the NMPRC. Financing Activities PNMR On December 14, 2012, PNMR entered into a $100.0 million Term Loan Agreement (as amended and restated, the “PNMR Term Loan Agreement”) among PNMR, the lenders identified therein, and JPMorgan Chase Bank, N.A., as Administrative Agent. On December 27, 2012, PNMR borrowed $100.0 million under the agreement and used the funds to repay $100.0 million in borrowings made under the PNMR Revolving Credit Facility. On December 27, 2013, PNMR entered into an agreement that amended and restated the PNMR Term Loan Agreement extending the maturity date to December 26, 2014 from December 27, 2013. On December 22, 2014, PNMR entered into another agreement that amended and restated the PNMR Term Loan Agreement extending the maturity date to December 21, 2015. On December 21, 2015, PNMR entered into the Third Amended and Restated PNMR Term Loan Agreement that increased the amount of the PNMR Term Loan Agreement to $150.0 million and extended the maturity date to December 21, 2016. On March 9, 2015, PNMR entered into a $150.0 million Term Loan Agreement (“PNMR 2015 Term Loan Agreement”) between PNMR, the lenders identified therein, and Wells Fargo Bank, National Association, as Lender and Administrative Agent. The PNMR 2015 Term Loan Agreement bears interest at a variable rate, which was 1.22% at December 31, 2015, and must be repaid on or before March 9, 2018. In September 2015, PNMR entered into a hedging agreement whereby it effectively established a fixed interest rate of 1.927% for borrowings under the PNMR 2015 Term Loan Agreement for the period from January 11, 2016 through March 9, 2018. This hedge is accounted for as a cash-flow hedge and had a fair value gain of $0.1 million at December 31, 2015, using Level 2 inputs under GAAP determined using forward LIBOR curves under the mid-market convention to discount cash flows over the remaining term of the swap agreements. In the year ended December 31, 2013, PNMR purchased $23.8 million aggregate principal amount of its outstanding 9.25% Senior Unsecured Notes, Series A, due 2015, through several open-market purchases, for $26.9 million plus accrued and unpaid interest. PNMR recognized losses of $3.3 million on these purchases, including transaction costs and write-off of the proportionate amount of the deferred costs of the original issuance of the notes, which are included in Other deductions on the Consolidated Statements of Earnings. At December 31, 2014, PNMR had an aggregate outstanding principal amount of $118.8 million of its 9.25% Senior Unsecured Notes, Series A, which were due on May 15, 2015. PNMR repaid all of the 9.25% Senior Unsecured Notes, Series A at the scheduled maturity, utilizing proceeds from the PNMR 2015 Term Loan Agreement and borrowings under the PNMR Revolving Credit Facility. As discussed in Note 16, NM Capital, a wholly owned subsidiary of PNMR, entered into a $125.0 million term loan agreement (the “BTMU Term Loan Agreement”), among NM Capital, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (“BTMU”), as lender, and BTMU, as Administrative Agent, as of February 1, 2016. The BTMU Term Loan Agreement has a maturity date of February 1, 2021 and bears interest at a rate based on LIBOR plus a customary spread. PNMR, as parent company of NM Capital, has guaranteed NM Capital’s obligations. The BTMU Term Loan Agreement and the guarantee include customary covenants, including requirements for PNMR to not exceed a maximum debt-to-capital ratio and customary events of default consistent with PNMR’s other term loan agreements. In addition, the BTMU Term Loan Agreement has a cross default provision and a change of control provision. NM Capital utilized the proceeds of the BTMU Term Loan Agreement to provide funding of $125.0 million to a ring-fenced, bankruptcy-remote, special-purpose entity that is a subsidiary of Westmoreland Coal Company to finance the purchase price of the stock of SJCC. PNM On April 22, 2013, PNM entered into a $75.0 million Term Loan Agreement (the “PNM 2013 Term Loan Agreement”) among PNM, the lenders identified therein, and Union Bank, N.A., as Administrative Agent. Funding of the PNM 2013 Term Loan Agreement occurred on April 22, 2013, at which time the funds were used to repay $75.0 million in borrowings made under the PNM Revolving Credit Facility. On March 5, 2014, PNM entered into a $175.0 million Term Loan Agreement (the “PNM 2014 Term Loan Agreement”) among PNM and BTMU, as Lender and Administrative Agent. On March 5, 2014, PNM used a portion of the funds borrowed under the PNM 2014 Term Loan Agreement to repay all amounts outstanding under the PNM 2013 Term Loan Agreement and other short-term amounts outstanding. The PNM 2014 Term Loan Agreement was repaid on August 12, 2015. On December 22, 2014, PNM entered into a multi-draw term loan facility (the “PNM Multi-draw Term Loan”) with JPMorgan Chase Bank, N.A., as Lender and Administrative Agent. The $125.0 million facility has a maturity date of June 21, 2016. At December 31, 2014, outstanding borrowings under the PNM Multi-draw Term Loan were $100.0 million . PNM drew the remaining capacity of $25.0 million on May 8, 2015 resulting in outstanding borrowings at December 31, 2015 of $125.0 million , which are included in current maturities of long-term debt on the Consolidated Balance Sheet. The PNM Multi-draw Term Loan bears interest at a variable rate, which was 0.99% at December 31, 2015. At December 31, 2014, PNM had a $39.3 million series of outstanding Senior Unsecured Notes, Pollution Control Revenue Bonds, which have a final maturity of June 1, 2043. These PCRBs were subject to mandatory tender for remarketing on June 1, 2015 and were successfully remarketed on that date. The notes now bear interest at 2.40% , continue to have an outstanding amount of $39.3 million , and are subject to mandatory tender for remarketing on June 1, 2020. On August 11, 2015, PNM issued $250.0 million aggregate principal amount of its 3.850% Senior Unsecured Notes due 2025. The notes will mature on August 1, 2025. Portions of the proceeds from the offering were used to repay the existing $175.0 million PNM 2014 Term Loan Agreement and to repay outstanding borrowings under the PNM Revolving Credit Facility, the PNM New Mexico Credit Facility, and PNM’s intercompany loan from PNMR. PNM has a shelf registration statement, which will expire in May 2017, with capacity for the issuance of up to $250.0 million of senior unsecured notes. TNMP On September 30, 2011, TNMP entered into the TNMP 2011 Term Loan Agreement and borrowed $50.0 million under it. Borrowings under the TNMP 2011 Term Loan Agreement were due by June 30, 2014. The debt was repaid from the proceeds of the TNMP 2013 Bond Purchase Agreement. TNMP entered into hedging agreements whereby it effectively established fixed interest rates for such borrowing over the life of the debt. On March 6, 2013, TNMP commenced an offer to exchange any and all of TNMP’s $265.5 million aggregate principal amount outstanding 9.50% First Mortgage Bonds, due 2019, Series 2009A, for a new series of 6.95% First Mortgage Bonds, due 2043, Series 2013A, and up to $140 in cash for each $1,000 of bonds exchanged. Settlement of the exchange offer occurred on April 3, 2013. Upon settlement, TNMP issued $93.2 million of 6.95% First Mortgage Bonds and paid an aggregate of $13.0 million in cash in exchange for $93.2 million of 9.50% First Mortgage Bonds, in addition to payment of accrued and unpaid interest on the exchanged bonds. The exchange resulted in a premium on the 6.95% First Mortgage Bonds reflecting the contractual interest rate being in excess of the market rate of interest on the date of the exchange. The premium amounted to $23.2 million , after reduction for the cash paid in the exchange. A regulatory asset was recorded offsetting the premium, including the cash consideration paid in the exchange. On December 9, 2013, TNMP entered into an agreement (the “TNMP 2013 Bond Purchase Agreement”), which provided that TNMP would issue $80.0 million aggregate principal amount of 4.03% first mortgage bonds, due 2024 (the “Series 2014A Bonds”) on or about June 27, 2014, subject to satisfaction of certain conditions. TNMP issued the Series 2014A Bonds on June 27, 2014. TNMP used $50.0 million of the proceeds to repay the full outstanding amount of a term loan and used the remaining $30.0 million of proceeds to reduce short-term debt. On December 17, 2015, TNMP entered into an agreement (the “TNMP 2015 Bond Purchase Agreement”), which provided that TNMP would issue $60.0 million aggregate principal amount of 3.53% first mortgage bonds, due 2026 (the “Series 2016A Bonds”) on or about February 10, 2016, subject to satisfaction of certain conditions. TNMP issued the Series 2016A Bonds on February 10, 2016 and used the proceeds to reduce short-term debt and intercompany debt. Borrowing Arrangements Between PNMR and its Subsidiaries PNMR has one-year intercompany loan agreements with its subsidiaries. Individual subsidiary loan agreements vary in amount up to $100.0 million and have either reciprocal or non-reciprocal terms. Interest charged to the subsidiaries is equivalent to interest paid by PNMR on its short-term borrowings or the money-market interest rate if PNMR does not have any short-term borrowings outstanding. As of December 31, 2015 and 2014 , TNMP had outstanding borrowings of $11.8 million and $22.7 million from PNMR. At February 19, 2016 , TNMP had borrowings of $15.1 million from PNMR. PNM had no outstanding borrowings from PNMR at December 31, 2015 or February 19, 2016. Short-term Debt The PNMR Revolving Credit Facility has a financing capacity of $300.0 million and the PNM Revolving Credit Facility has a financing capacity of $400.0 million . In October 2015, the maturity of both of these facilities was extended from October 31, 2019 to October 31, 2020. The TNMP Revolving Credit Facility is a $75.0 million revolving credit facility secured by $75.0 million aggregate principal amount of TNMP first mortgage bonds. The TNMP Revolving Credit Facility matures on September 18, 2018. On January 8, 2014, PNM entered into a $50.0 million unsecured revolving credit facility (the “PNM New Mexico Credit Facility”) by and among PNM, the lenders identified therein, U.S. Bank National Association, as Administrative Agent, and BOKF, NA dba Bank of Albuquerque, as Syndication Agent. The nine participating lenders are all banks that have a significant presence in New Mexico and PNM’s service territory or are headquartered in New Mexico. The PNM New Mexico Credit Facility expires on January 8, 2018 and contains covenants and conditions similar to those in the PNM Revolving Credit Facility. At December 31, 2015 , interest rates on outstanding borrowings were 1.26% for the PNMR Term Loan Agreement (discussed under Financing Activities above), 1.67% for the PNMR Revolving Credit Facility, and 1.29% for the TNMP Revolving Credit Facility. The PNM Revolving Credit Facility and the PNM New Mexico Credit Facility had no borrowings outstanding at December 31, 2015 . Short-term debt outstanding consists of: December 31, Short-term Debt 2015 2014 (In thousands) PNM: PNM Revolving Credit Facility $ — $ — PNM New Mexico Credit Facility — — TNMP Revolving Credit Facility 59,000 5,000 PNMR PNMR Revolving Credit Facility 41,600 600 PNMR Term Loan Agreement 150,000 100,000 $ 250,600 $ 105,600 In addition to the above borrowings, PNMR, PNM, and TNMP had letters of credit outstanding of $6.2 million , $3.2 million , and $0.1 million at December 31, 2015 that reduce the available capacity under their respective revolving credit facilities. At February 19, 2016 , PNMR, PNM, and TNMP had $187.7 million , $350.6 million , and $59.9 million of availability under their respective revolving credit facilities, including reductions of availability due to outstanding letters of credit, and PNM had no availability under the PNM New Mexico Credit Facility. Total availability at February 19, 2016 , on a consolidated basis, was $598.2 million for PNMR. At February 19, 2016 , PNMR had invested cash of $1.9 million . PNM and TNMP had no invested cash at February 19, 2016. Long-Term Debt Information concerning long-term debt outstanding and unamortized (premiums), discounts, and debt issuance costs is as follows: December 31, 2015 December 31, 2014 Principal Unamortized Discounts, (Premiums), and Issuance Costs, net Principal Unamortized Discounts, (Premiums), and Issuance Costs, net (In thousands) PNM Debt Senior Unsecured Notes, Pollution Control Revenue Bonds: 4.875% due 2033 $ 146,000 $ 721 $ 146,000 $ 807 6.25% due 2038 36,000 251 36,000 262 4.75% due 2040, mandatory tender at June 1, 2017 37,000 82 37,000 138 5.20% due 2040, mandatory tender at June 1, 2020 40,045 190 40,045 233 5.90% due 2040 255,000 2,222 255,000 2,313 6.25% due 2040 11,500 100 11,500 104 2.54% due 2042, mandatory tender at June 1, 2017 20,000 199 20,000 331 4.00% due 2043, mandatory tender at June 1, 2015 — — 39,300 36 2.40% due 2043, mandatory tender at June 1, 2020 39,300 456 — — 5.20% due 2043, mandatory tender at June 1, 2020 21,000 96 21,000 118 Senior Unsecured Notes: 7.95% due 2018 350,000 1,718 350,000 2,441 7.50% due 2018 100,025 320 100,025 444 5.35% due 2021 160,000 943 160,000 1,106 3.85% due 2025 250,000 2,874 — — PNM Term Loan Agreement due 2015 — — 175,000 — PNM Multi-draw Term Loan due 2016 125,000 21 100,000 — 1,590,870 10,193 1,490,870 8,333 Less current maturities 125,000 21 214,300 36 1,465,870 10,172 1,276,570 8,297 TNMP Debt First Mortgage Bonds: 9.50% due 2019, Series 2009A 172,302 2,682 172,302 3,508 6.95% due 2043, Series 2013A 93,198 (19,490 ) 93,198 (20,208 ) 4.03% due 2024, Series 2014A 80,000 897 80,000 959 345,500 (15,911 ) 345,500 (15,741 ) Less current maturities — — — — 345,500 (15,911 ) 345,500 (15,741 ) PNMR Debt PNMR 2015 Term Loan Agreement due 2018 150,000 140 — — Senior unsecured notes, 9.25% due 2015 — — 118,766 159 150,000 140 118,766 159 Less current maturities — — 118,766 159 150,000 140 — — Total Consolidated PNMR Debt 2,086,370 (5,578 ) 1,955,136 (7,249 ) Less current maturities 125,000 21 333,066 195 $ 1,961,370 $ (5,599 ) $ 1,622,070 $ (7,444 ) In April 2015, the FASB issued Accounting Standards Update 2015-03 – Interest – Imputation of Interest (Subtopic 835-30) , which, as subsequently amended, requires that debt issuance costs be reflected as a direct reduction of the related debt liability, except for arrangements such as the Company’s revolving credit facilities. As permitted under the ASU, the Company adopted it as of December 31, 2015. The ASU requires that upon adoption it is to be applied retrospectively to prior years. Accordingly, amounts for 2014 that previously were included in other deferred charges are now reflected as reductions of the related debt in the above table and on the Consolidated Balance Sheets. The 2014 amounts reclassified were none for PNMR, less than $0.1 million for PNM, and none for TNMP that reduce current installments of long-term debt and $0.2 million for PNMR, $8.1 million for PNM, and $4.4 million for TNMP that reduce long-term debt. Reflecting mandatory tender dates, long-term debt matures as follows: PNMR PNM TNMP PNMR Consolidated (In thousands) 2016 $ — $ 125,000 $ — $ 125,000 2017 — 57,000 — 57,000 2018 150,000 450,025 — 600,025 2019 — — 172,302 172,302 2020 — 100,345 — 100,345 Thereafter — 858,500 173,198 1,031,698 Total $ 150,000 $ 1,590,870 $ 345,500 $ 2,086,370

Lease Commitments

Lease Commitments	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Leases Commitments	Lease Commitments The Company leases office buildings, vehicles, and other equipment under operating leases. In addition, PNM leases interests in Units 1 and 2 of PVNGS and, through April 1, 2015, leased an interest in the EIP transmission line. Many of PNM’s electric transmission and distribution facilities are located on lands that require the grant of rights-of-way from governmental entities, Native American tribes, or private parties. PNM has completed several renewals of rights-of-way, the largest of which is a renewal with the Navajo Nation, and has no significant rights-of-way that will expire within the next five years. PNM is obligated to pay the Navajo Nation annual payments of $6.0 million , subject to adjustment each year based on the Consumer Price Index, through 2029. All of the Company’s leases, including the Navajo Nation rights-of-way agreement, are accounted for as operating leases. The PVNGS leases were entered into in 1985 and 1986 and initially were scheduled to expire on January 15, 2015 for the four Unit 1 leases and January 15, 2016 for the four Unit 2 leases. Each of the leases provided PNM with an option to purchase the leased assets at fair market value at the end of the leases, but PNM did not have a fixed price purchase option. In addition, the leases provided PNM with options to renew the leases at fixed rates set forth in each of the leases for two years beyond the termination of the original lease terms. The option periods on certain leases could be further extended for up to an additional six years (the “Maximum Option Period”) if the appraised remaining useful lives and fair value of the leased assets were greater than parameters set forth in the leases. The rental payments during the fixed renewal option periods are 50% of the amounts during the original terms of the leases. Gross annual lease payments, before considering the impacts of amounts returned to PNM through ownership of the lessor notes, aggregated $33.0 million for the Unit 1 leases and $23.7 million for the Unit 2 leases prior to the expiration of their original terms. For leases that are extended, the leases provide PNM with the option to purchase the leased assets at fair market value at the end of the extended lease terms. Following procedures set forth in the PVNGS leases, PNM notified each of the four lessors under the Unit 1 leases and the lessor under the one Unit 2 lease containing the Maximum Option Period provision that it would elect to renew those leases for the Maximum Option Period on the expiration date of the original leases. PNM and each of those lessors entered into amendments to each of the leases setting forth the terms and conditions that would implement the extension of the term of the leases through the agreed upon Maximum Option Period. The four Unit 1 leases now expire on January 15, 2023 and the one Unit 2 lease now expires on January 15, 2024. The annual payments during the renewal periods aggregate $16.5 million for the PVNGS Unit 1 leases and $1.6 million for the Unit 2 lease. The table of future lease payments as of December 31, 2015 shown below includes payments during the renewal periods for those leases that have been extended. For the three PVNGS Unit 2 leases that did not contain the Maximum Option Period provisions, PNM, following procedures set forth in the leases, notified each of the lessors that PNM would elect to purchase the assets underlying those leases on the expiration date of the original leases. PNM and the lessors under these leases entered into agreements that established the purchase price, representing the fair market value, to be paid by PNM for the assets underlying the leases on January 15, 2016. On January 15, 2016, PNM paid $78.1 million to the lessor under one lease for 31.25 MW of the entitlement from PVNGS Unit 2 and $85.2 million to the lessors under the other two leases for 32.76 MW of the entitlement from PVNGS Unit 2. Covenants in PNM’s PVNGS Units 1 and 2 lease agreements limit PNM’s ability, without consent of the owner participants in the lease transactions, (i) to enter into any merger or consolidation, or (ii) except in connection with normal dividend policy, to convey, transfer, lease or dividend more than 5% of its assets in any single transaction or series of related transactions. PNM is exposed to losses under the PVNGS lease arrangements upon the occurrence of certain events that PNM does not consider to be reasonably likely to occur. Under certain circumstances (for example, the NRC issuing specified violation orders with respect to PVNGS or the occurrence of specified nuclear events), PNM would be required to make specified payments to the equity participants, and take title to the leased interests. Exercise of renewal options under the leases requires that amounts payable to equity participants under the circumstances described above would increase to the fair market value as of the renewal date. If such an event had occurred as of December 31, 2015 , PNM could have been required to pay the equity participants up to approximately $205.8 million on January 15, 2016 in addition to the scheduled lease payments due on January 15, 2016. In such event, PNM would record the acquired assets at the lower of their fair value or the aggregate of the amount paid and PNM’s carrying value of its investment in PVNGS lessor notes. Reflecting the asset purchases and lease renewal that were effective on January 15, 2016, if such an event were to occur, amounts payable to equity participants under the circumstances described above would be up to $179.1 million on July 15, 2016 in addition to the scheduled lease payments due on July 15, 2016. PNM owned 60% of the EIP and leased the other 40% , under a lease that expired on April 1, 2015. The lease provided PNM the option of purchasing the leased assets at the end of the lease for fair market value, as well as options to renew the lease. On November 1, 2012, PNM and the lessor entered into a definitive agreement for PNM to exercise the option to purchase on April 1, 2015 the leased capacity at fair market value, which the parties agreed would be $7.7 million . PNM closed on the purchase on April 1, 2015 and recorded the purchase of the assets underlying the lease at that date. PNMR leased a building that was used as part of its corporate headquarters, as well as housing certain support functions for the utility operations of PNM and TNMP. The lease expired on November 30, 2015 and provided for annual rents of $1.9 million , which are included in the operating lease expense table below. Operating lease expense, including the PVNGS and EIP leases, was: PNMR PNM TNMP (In thousands) 2015 $ 68,652 $ 63,558 $ 3,688 2014 $ 82,756 $ 76,745 $ 3,932 2013 $ 82,882 $ 78,306 $ 2,663 As discussed under Investments in Note 1, the PVNGS Capital Trust, which was consolidated by PNM through January 15, 2016, acquired the lessor notes that were issued by the PVNGS lessors. Future minimum operating lease payments at December 31, 2015 shown below have been reduced by payments on the PVNGS lessor notes of $9.0 million in 2016 returned in cash to PNM: PNMR PNM TNMP (In thousands) 2016 $ 29,825 $ 28,496 $ 1,062 2017 26,071 25,413 379 2018 25,240 24,945 15 2019 25,190 24,902 — 2020 25,197 24,902 — Later years 108,990 108,990 — Total minimum lease payments $ 240,513 $ 237,648 $ 1,456

Fair Value of Derivative and Ot

Fair Value of Derivative and Other Financial Instruments	12 Months Ended
	Dec. 31, 2015
Fair Value of Derivative and Other Financial Instruments [Abstract]
Fair Value of Derivative and Other Financial Instruments	Fair Value of Derivative and Other Financial Instruments Energy Related Derivative Contracts Overview The primary objective for the use of derivative instruments, including energy contracts, options, and futures, is to manage price risk associated with forecasted purchases of energy and fuel used to generate electricity, as well as managing anticipated generation capacity in excess of forecasted demand from existing customers. PNM’s energy related derivative contracts manage commodity risk. PNM is required to meet the demand and energy needs of its retail and firm-requirements wholesale customers. PNM is exposed to market risk for its share of PVNGS Unit 3 and the needs of its firm-requirements wholesale customers not covered under a FPPAC. PNM’s operations are managed primarily through a net asset-backed strategy, whereby PNM’s aggregate net open forward contract position is covered by its forecasted excess generation capabilities or market purchases. PNM could be exposed to market risk if its generation capabilities were to be disrupted or if its load requirements were to be greater than anticipated. If all or a portion of load requirements were required to be covered as a result of such unexpected situations, commitments would have to be met through market purchases. Commodity Risk Marketing and procurement of energy often involve market risks associated with managing energy commodities and establishing open positions in the energy markets, primarily on a short-term basis. PNM routinely enters into various derivative instruments such as forward contracts, option agreements, and price basis swap agreements to economically hedge price and volume risk on power commitments and fuel requirements and to minimize the effect of market fluctuations in wholesale portfolios. PNM monitors the market risk of its commodity contracts using VaR calculations to maintain total exposure within management-prescribed limits in accordance with approved risk and credit policies. Accounting for Derivatives Under derivative accounting and related rules for energy contracts, the Company accounts for its various derivative instruments for the purchase and sale of energy based on the Company’s intent. During the years ended December 31, 2015 , 2014 , and 2013, the Company was not hedging its exposure to the variability in future cash flows from commodity derivatives through designated cash flows hedges. The contracts recorded at fair value that do not qualify or are not designated for cash flow hedge accounting are classified as economic hedges. Economic hedges are defined as derivative instruments, including long-term power agreements, used to economically hedge generation assets, purchased power and fuel costs, and customer load requirements. Changes in the fair value of economic hedges are reflected in results of operations and are classified between operating revenues and cost of energy according to the intent of the hedge. The Company has no trading transactions. Fair value is defined under GAAP as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair value is based on current market quotes as available and is supplemented by modeling techniques and assumptions made by the Company to the extent quoted market prices or volatilities are not available. External pricing input availability varies based on commodity location, market liquidity, and term of the agreement. Valuations of derivative assets and liabilities take into account nonperformance risk including the effect of counterparties’ and the Company’s credit risk. The Company regularly assesses the validity and availability of pricing data for its derivative transactions. Although the Company uses its best judgment in estimating the fair value of these instruments, there are inherent limitations in any estimation technique. Commodity Derivatives Commodity derivative instruments that are recorded at fair value, all of which are accounted for as economic hedges, are summarized as follows: Economic Hedges December 31, 2015 2014 (In thousands) PNM and PNMR Current assets $ 3,813 $ 11,232 Deferred charges 2,622 — 6,435 11,232 Current liabilities (1,859 ) (1,209 ) Long-term liabilities — (477 ) (1,859 ) (1,686 ) Net $ 4,576 $ 9,546 Included in the above table are $3.0 million of current assets and $2.6 million of deferred charges at December 31, 2015 and $3.0 million of current assets at December 31, 2014 related to contracts for the sale of energy from PVNGS Unit 3 through 2017 at market price plus a premium. Certain of PNM’s commodity derivative instruments in the above table are subject to master netting agreements whereby assets and liabilities could be offset in the settlement process. The Company does not offset fair value, cash collateral, and accrued payable or receivable amounts recognized for derivative instruments under master netting arrangements and the above table reflects the gross amounts of assets and liabilities. The amounts that could be offset under master netting agreements were immaterial at December 31, 2015 and 2014 . At December 31, 2015 and 2014 , PNMR and PNM had no amounts recognized for the legal right to reclaim cash collateral. However, at December 31, 2015 and 2014 , amounts posted as cash collateral under margin arrangements were $2.7 million and $3.8 million for both PNMR and PNM. At December 31, 2015 and 2014 , obligations to return cash collateral were $0.1 million and $0.2 million for both PNMR and PNM. Cash collateral amounts are included in other current assets and other current liabilities on the Consolidated Balance Sheets. PNM has a NMPRC approved hedging plan to manage fuel and purchased power costs related to customers covered by its FPPAC. The table above includes $0.4 million of current assets and $0.2 million of current liabilities at December 31, 2015 related to this plan. The offsets to these amounts are recorded as regulatory assets and liabilities on the Consolidated Balance Sheets. At December 31, 2014, there were no hedges in place under this plan. The following table presents the effect of mark-to-market commodity derivative instruments on earnings, excluding income tax effects. Commodity derivatives had no impact on OCI for the periods presented. Economic Hedges Year Ended 2015 2014 2013 (In thousands) PNMR and PNM Electric operating revenues $ 7,156 $ 4,491 $ 1,727 Cost of energy (293 ) 593 1,109 Total gain $ 6,863 $ 5,084 $ 2,836 Commodity contract volume positions are presented in MMBTU for gas related contracts and in MWh for power related contracts. The table below presents PNMR’s and PNM’s net buy (sell) volume positions: Economic Hedges MMBTU MWh December 31, 2015 PNMR and PNM 577,481 (3,405,843 ) December 31, 2014 PNMR and PNM 650,000 (1,919,000 ) In connection with managing its commodity risks, the Company enters into master agreements with certain counterparties. If the Company is in a net liability position under an agreement, some agreements provide that the counterparties can request collateral from the Company if the Company’s credit rating is downgraded; other agreements provide that the counterparty may request collateral to provide it with “adequate assurance” that the Company will perform; and others have no provision for collateral. The table below presents information about the Company’s contingent requirements to provide collateral under commodity contracts having an objectively determinable collateral provision that are in net liability positions and are not fully collateralized with cash. Contractual liability represents commodity derivative contracts recorded at fair value on the balance sheet, determined on an individual contract basis without offsetting amounts for individual contracts that are in an asset position and could be offset under master netting agreements with the same counterparty. The table only reflects cash collateral that has been posted under the existing contracts and does not reflect letters of credit under the Company’s revolving credit facilities that have been issued as collateral. Net exposure is the net contractual liability for all contracts, including those designated as normal purchases and normal sales, offset by existing cash collateral and by any offsets available under master netting agreements, including both asset and liability positions. Contingent Feature – Credit Rating Downgrade Contractual Liability Existing Cash Collateral Net Exposure (In thousands) December 31, 2015 PNMR and PNM $ 839 $ — $ 839 December 31, 2014 PNMR and PNM $ 1,686 $ — $ 167 Sale of Power from PVNGS Unit 3 Because PNM’s 134 MW share of Unit 3 at PVNGS is not currently included in retail rates, that unit’s power is being sold in the wholesale market. PNM sells power from its interest in PVNGS Unit 3 at market prices. As of December 31, 2015, PNM had contracted to sell 100% of PVNGS Unit 3 output through 2017, at market price plus a premium. Through hedging arrangements that are accounted for as economic hedges, PNM has established fixed rates, which average approximately $26 per MWh, for substantially all of the sales through 2016. There are currently no hedging arrangements in place for the 2017 sales. Non-Derivative Financial Instruments The carrying amounts reflected on the Consolidated Balance Sheets approximate fair value for cash, receivables, and payables due to the short period of maturity. Available-for-sale securities are carried at fair value. Available-for-sale securities for PNMR and PNM consist of PNM assets held in the NDT for its share of decommissioning costs of PVNGS and a trust for PNM’s share of post-term reclamation costs related to the coal mines serving SJGS (Note 16). At December 31, 2015 and 2014, the fair value of available-for-sale securities included $249.1 million and $244.6 million for the NDT and $9.9 million and $5.5 million for the mine reclamation trust. The fair value and gross unrealized gains of investments in available-for-sale securities are presented in the following table. December 31, 2015 December 31, 2014 Unrealized Gains Fair Value Unrealized Gains Fair Value PNMR and PNM (In thousands) Cash and cash equivalents $ — $ 10,700 $ — $ 8,276 Equity securities: Domestic value 11,610 44,505 17,418 45,340 Domestic growth 11,163 61,078 21,354 74,053 International and other 1,569 27,961 156 16,599 Fixed income securities: U.S. Government 178 27,880 903 22,563 Municipals 3,672 58,576 5,851 68,973 Corporate and other 628 28,342 666 14,341 $ 28,820 $ 259,042 $ 46,348 $ 250,145 The proceeds and gross realized gains and losses on the disposition of available-for-sale securities for PNMR and PNM are shown in the following table. Realized gains and losses are determined by specific identification of costs of securities sold. Gross realized losses shown below exclude the change in realized impairment losses of $(4.3) million , $(0.7) million , and $0.6 million for the years ended December 31, 2015, 2014 and 2013. Year Ended December 31, 2015 2014 2013 (In thousands) Proceeds from sales $ 252,174 $ 117,989 $ 271,140 Gross realized gains $ 29,663 $ 15,162 $ 14,308 Gross realized (losses) $ (9,259 ) $ (3,964 ) $ (4,298 ) Held-to-maturity securities are those investments in debt securities that the Company has the ability and intent to hold until maturity. Held-to-maturity securities consist of the investment in PVNGS lessor notes and certain items within other investments. The Company has no available-for-sale or held-to-maturity securities for which carrying value exceeds fair value. There are no impairments considered to be “other than temporary” that are included in AOCI and not recognized in earnings. At December 31, 2015 , the available-for-sale and held-to-maturity debt securities had the following final maturities: Fair Value Available-for-Sale Held-to-Maturity PNMR and PNM PNMR PNM (In thousands) Within 1 year $ 3,858 $ 8,947 $ 8,947 After 1 year through 5 years 24,136 665 — After 5 years through 10 years 26,401 — — After 10 years through 15 years 10,843 — — After 15 years through 20 years 10,815 — — After 20 years 38,745 — — $ 114,798 $ 9,612 $ 8,947 Fair Value Disclosures The Company determines the fair values of its derivative and other financial instruments based on the hierarchy established in GAAP, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. GAAP describes three levels of inputs that may be used to measure fair value. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. Level 3 inputs used in determining fair values for the Company consist of internal valuation models. The Company records any transfers between fair value hierarchy levels as of the end of each calendar quarter. There were no transfers between levels during the years ended December 31, 2015 and 2014 . For available-for-sale securities, Level 2 fair values are provided by the trustee utilizing a pricing service. The pricing provider predominantly uses the market approach using bid side market value based upon a hierarchy of information for specific securities or securities with similar characteristics. For commodity derivatives, Level 2 fair values are determined based on market observable inputs, which are validated using multiple broker quotes, including forward price, volatility, and interest rate curves to establish expectations of future prices. Credit valuation adjustments are made for estimated credit losses based on the overall exposure to each counterparty. For the Company’s long-term debt, Level 2 fair values are provided by an external pricing service. The pricing service primarily utilizes quoted prices for similar debt in active markets when determining fair value. For investments categorized as Level 3, primarily the PVNGS lessor notes and certain items in other investments, fair values were determined by discounted cash flow models that take into consideration discount rates that are observable for similar types of assets and liabilities. Management of the Company independently verifies the information provided by pricing services. Items recorded at fair value on the Consolidated Balance Sheets are presented below by level of the fair value hierarchy. There were no Level 3 fair value measurements at December 31, 2015 and 2014 for items recorded at fair value. GAAP Fair Value Hierarchy Total Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs December 31, 2015 (In thousands) PNMR and PNM Available-for-sale securities Cash and cash equivalents $ 10,700 $ 10,700 $ — Equity securities: Domestic value 44,505 44,505 — Domestic growth 61,078 61,078 — International and other 27,961 27,961 — Fixed income securities: U.S. Government 27,880 26,608 1,272 Municipals 58,576 — 58,576 Corporate and other 28,342 6,500 21,842 $ 259,042 $ 177,352 $ 81,690 Commodity derivative assets $ 6,435 $ — $ 6,435 Commodity derivative liabilities (1,859 ) — (1,859 ) Net $ 4,576 $ — $ 4,576 GAAP Fair Value Hierarchy Total Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs December 31, 2014 (In thousands) PNMR and PNM Available-for-sale securities Cash and cash equivalents $ 8,276 $ 8,276 $ — Equity securities: Domestic value 45,340 45,340 — Domestic growth 74,053 74,053 — International and other 16,599 16,599 — Fixed income securities: U.S. Government 22,563 20,808 1,755 Municipals 68,973 — 68,973 Corporate and other 14,341 4,843 9,498 $ 250,145 $ 169,919 $ 80,226 Commodity derivative assets $ 11,232 $ — $ 11,232 Commodity derivative liabilities (1,686 ) — (1,686 ) Net $ 9,546 $ — $ 9,546 The carrying amounts and fair values of investments in PVNGS lessor notes, other investments, and long-term debt, which are not recorded at fair value on the Consolidated Balance Sheets, are presented below: GAAP Fair Value Hierarchy Carrying Amount Fair Value Level 1 Level 2 Level 3 December 31, 2015 (In thousands) PNMR Long-term debt $ 2,091,948 $ 2,264,869 $ — $ 2,264,869 $ — Investment in PVNGS lessor notes $ 8,587 $ 8,947 $ — $ — $ 8,947 Other investments $ 604 $ 1,269 $ 604 $ — $ 665 PNM Long-term debt $ 1,580,677 $ 1,703,209 $ — $ 1,703,209 $ — Investment in PVNGS lessor notes $ 8,587 $ 8,947 $ — $ — $ 8,947 Other investments $ 366 $ 366 $ 366 $ — $ — TNMP Long-term debt $ 361,411 $ 411,661 $ — $ 411,661 $ — Other investments $ 238 $ 238 $ 238 $ — $ — December 31, 2014 PNMR Long-term debt $ 1,962,385 (1) $ 2,173,117 $ — $ 2,173,117 $ — Investment in PVNGS lessor notes $ 31,232 $ 32,836 $ — $ — $ 32,836 Other investments $ 1,762 $ 2,375 $ 639 $ — $ 1,736 PNM Long-term debt $ 1,482,537 (1) $ 1,624,222 $ — $ 1,624,222 $ — Investment in PVNGS lessor notes $ 31,232 $ 32,836 $ — $ — $ 32,836 Other investments $ 397 $ 397 $ 397 $ — $ — TNMP Long-term debt $ 361,241 (1) $ 427,356 $ — $ 427,356 $ — Other investments $ 242 $ 242 $ 242 $ — $ — (1) See Note 6 for an explanation of the adjustments made to the December 31, 2014 carrying value of long-term debt in order to conform to current-year presentation. Investments Held by Employee Benefit Plans As discussed in Note 12, PNM and TNMP have trusts that hold investment assets for their pension and other postretirement benefit plans. The fair value of the assets held by the trusts impacts the determination of the funded status of each plan, but the assets are not reflected on the Company’s Consolidated Balance Sheets. Both the PNM Pension Plan and the TNMP Pension Plan hold units of participation in the PNM Resources, Inc. Master Trust (the “PNMR Master Trust”), which was established for the investment of assets of the pension plans. On May 2, 2015, the FASB issued ASU No. 2015-07, Fair Value Measurement (Topic 820) - Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) , which removed the requirement to categorize investments within the fair value hierarchy for which fair value was measured using a practical expedient provided under GAAP that allows the net asset value per share to be used as fair value for investments in certain entities that do not have readily determinable fair values and are considered to be investment companies. Fair values for alternative investments held by the PNMR Master Trust are valued using this practical expedient. As permitted under the ASU, the Company adopted it as of December 31, 2015. The ASU requires that upon adoption it is to be applied retrospectively to prior years. Accordingly, alternative investments are no longer categorized within the fair value hierarchy and disclosures for December 31, 2014 have been modified to be consistent with 2015. Level 2 and Level 3 fair values are provided by fund managers utilizing a pricing service. For level 2 fair values, the pricing provider predominately uses the market approach using bid side market value based upon a hierarchy of information for specific securities or securities with similar characteristics. Fair values of Level 2 investments in mutual funds are equal to net asset value as of year-end. Level 3 investments are comprised of corporate term loans. Alternative investments include private equity funds, hedge funds, and real estate funds. The private equity funds are not voluntarily redeemable. These investments are realized through periodic distributions occurring over a 10 to 15 year term after the initial investment. The real estate funds and hedge funds may be voluntarily redeemed, but are subject to redemption provisions that may result in the funds not being able to be redeemed in the near term. Audited financial statements are received for each fund and are reviewed by the Company annually. The valuation of Level 3 investments and alternative investments requires significant judgment by the pricing provider due to the absence of quoted market values, changes in market conditions, and the long-term nature of the assets. The significant unobservable inputs include the trading multiples of public companies that are considered comparable to the company being valued, company specific issues, estimates of liquidation value, current operating performance and future expectations of performance, changes in market outlook and the financing environment, capitalization rates, discount rates and cash flows. The fair values of investments held by the employee benefit plans are as follows: GAAP Fair Value Hierarchy Total Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2015 (In thousands) PNM Pension Plan Participation in PNMR Master Trust Investments: Investments categorized within fair value hierarchy $ 479,858 $ 111,441 $ 367,698 $ 719 Uncategorized investments 78,461 Total Master Trust Investments $ 558,319 TNMP Pension Plan Participation in PNMR Master Trust Investments: Investments categorized within fair value hierarchy $ 52,163 $ 12,199 $ 39,886 $ 78 Uncategorized investments 9,968 Total Master Trust Investments $ 62,131 PNM OPEB Plan Cash and cash equivalents $ 1,512 $ 1,512 $ — $ — Equity securities: International funds 10,604 — 10,604 — Domestic value 9,367 9,367 — — Domestic growth 5,894 5,894 — — Other funds 28,419 — 28,419 — Fixed income securities: Mutual funds 18,343 18,343 — — $ 74,139 $ 35,116 $ 39,023 $ — TNMP OPEB Plan Cash and cash equivalents $ 128 $ 128 $ — $ — Equity securities: International funds 1,310 — 1,310 — Domestic value 367 367 — — Domestic growth 1,013 1,013 — — Other funds 3,397 — 3,397 — Fixed income securities: Mutual funds 3,075 3,075 — — $ 9,290 $ 4,583 $ 4,707 $ — GAAP Fair Value Hierarchy Total Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2014 (In thousands) PNM Pension Plan Participation in PNMR Master Trust Investments: Investments categorized within fair value hierarchy $ 523,142 $ 123,668 $ 398,819 $ 655 Uncategorized investments 64,970 Total Master Trust Investments $ 588,112 TNMP Pension Plan Participation in PNMR Master Trust Investments: Investments categorized within fair value hierarchy $ 59,320 $ 14,823 $ 44,425 $ 72 Uncategorized investments 9,887 Total Master Trust Investments $ 69,207 PNM OPEB Plan Cash and cash equivalents $ 1,242 $ 1,242 $ — $ — Equity securities: International funds 10,332 — 10,332 — Domestic value 8,365 8,365 — — Domestic growth 5,960 5,960 — — Other funds 30,997 — 30,997 — Fixed income securities: Mutual funds 22,122 22,122 — — $ 79,018 $ 37,689 $ 41,329 $ — TNMP OPEB Plan Cash and cash equivalents $ 168 $ 168 $ — $ — Equity securities: International funds 1,277 — 1,277 — Domestic value 403 403 — — Domestic growth 1,024 1,024 — — Other funds 3,790 — 3,790 — Fixed income securities: Mutual funds 3,549 3,549 — — $ 10,211 $ 5,144 $ 5,067 $ — The fair values of investments in the PNMR Master Trust are as follows: GAAP Fair Value Hierarchy Total Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2015 (In thousands) PNMR Master Trust Cash and cash equivalents $ 14,525 $ 14,525 $ — $ — Equity securities: International 36,675 — 36,675 — Domestic value 34,769 34,769 — — Domestic growth 25,407 25,407 — — Other funds 30,531 — 30,531 — Fixed income securities: Corporate 214,218 — 213,421 797 U.S. Government 98,138 48,936 49,202 — Municipals 16,647 — 16,647 — Other funds 61,111 3 61,108 — Total investments categorized within fair value hierarchy 532,021 $ 123,640 $ 407,584 $ 797 Uncategorized investments: Private equity funds 32,333 Hedge funds 40,731 Real estate funds 15,365 $ 620,450 December 31, 2014 PNMR Master Trust Cash and cash equivalents $ 15,645 $ 15,645 $ — $ — Equity securities: International 23,282 — 23,282 — Domestic value 41,778 41,778 — — Domestic growth 28,370 28,370 — — Other funds 29,719 — 29,719 — Fixed income securities: Corporate 242,742 — 242,015 727 U.S. Government 106,634 52,537 54,097 — Municipals 20,156 — 20,156 — Other funds 74,136 161 73,975 — Total investments categorized within fair value hierarchy 582,462 $ 138,491 $ 443,244 $ 727 Uncategorized investments: Private equity funds 37,220 Hedge funds 23,876 Real estate funds 13,761 $ 657,319 A reconciliation of the changes in Level 3 fair value measurements is as follows: Fixed Income - Corporate PNMR Master Trust PNM Pension TNMP Pension Total Master Trust (In thousands) Balance at December 31, 2013 $ 160 $ 16 $ 176 Actual return on assets sold during the period — — — Actual return on assets still held at period end (18 ) (2 ) (20 ) Purchases 546 62 608 Sales (33 ) (4 ) (37 ) Balance at December 31, 2014 655 72 727 Actual return on assets sold during the period — — — Actual return on assets still held at period end (1 ) — (1 ) Purchases 177 17 194 Sales (112 ) (11 ) (123 ) Balance at December 31, 2015 $ 719 $ 78 $ 797

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2015
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities GAAP determines how an enterprise evaluates and accounts for its involvement with variable interest entities, focusing primarily on whether the enterprise has the power to direct the activities that most significantly impact the economic performance of a variable interest entity (“VIE”). GAAP also requires continual reassessment of the primary beneficiary of a variable interest entity. Valencia PNM has a PPA to purchase all of the electric capacity and energy from Valencia, a 158 MW natural gas-fired power plant near Belen, New Mexico, through May 2028. A third-party built, owns, and operates the facility while PNM is the sole purchaser of the electricity generated. The total construction cost for the facility was $90.0 million . PNM estimates that the plant will typically operate during peak periods of energy demand in summer. PNM is obligated to pay fixed operations and maintenance and capacity charges in addition to variable operation and maintenance charges under this PPA. For the years ended December 31, 2015 , 2014 , and 2013 , PNM paid $17.5 million , $19.1 million , and $18.9 million for fixed charges and $1.5 million , $1.2 million , and $1.2 million for variable charges. PNM does not have any other financial obligations related to Valencia. The assets of Valencia can only be used to satisfy obligations of Valencia and creditors of Valencia do not have any recourse against PNM’s assets. PNM sources fuel for the plant, controls when the facility operates through its dispatch, and receives the entire output of the plant, which factors directly and significantly impact the economic performance of Valencia. Therefore, PNM has concluded that the third party entity that owns Valencia is a variable interest entity and that PNM is the primary beneficiary of the entity under GAAP since PNM has the power to direct the activities that most significantly impact the economic performance of Valencia and will absorb the majority of the variability in the cash flows of the plant. As the primary beneficiary, PNM consolidates the entity in its financial statements. Accordingly, the assets, liabilities, operating expenses, and cash flows of Valencia are included in the consolidated financial statements of PNM although PNM has no legal ownership interest or voting control of the variable interest entity. The assets and liabilities of Valencia set forth below are immaterial to PNM and, therefore, not shown separately on the Consolidated Balance Sheets. The owner’s equity and net income of Valencia are considered attributable to non-controlling interest. Summarized financial information for Valencia is as follows: Results of Operations Year Ended December 31, 2015 2014 2013 (In thousands) Operating revenues $ 20,687 $ 20,247 $ 20,166 Operating expenses (5,777 ) (6,120 ) (5,645 ) Earnings attributable to non-controlling interest $ 14,910 $ 14,127 $ 14,521 Financial Position December 31, 2015 2014 (In thousands) Current assets $ 2,588 $ 2,513 Net property, plant and equipment 69,784 72,321 Total assets 72,372 74,834 Current liabilities 965 1,288 Owners’ equity – non-controlling interest $ 71,407 $ 73,546 During the term of the PPA, PNM has the option to purchase and own up to 50% of the plant or the variable interest entity. The PPA specifies that the purchase price would be the greater of (i) 50% of book value reduced by related indebtedness or (ii) 50% of fair market value. On October 8, 2013, PNM notified the owner of Valencia that PNM may exercise the option to purchase 50% of the plant. As provided in the PPA, an appraisal process was initiated since the parties failed to reach agreement on fair market value within 60 days. Under the PPA, results of the appraisal process established the purchase price after which PNM was to determine in its sole discretion whether or not to exercise its option to purchase the 50% interest. The PPA also provides that the purchase price may be adjusted to reflect the period between the determination of the purchase price and the closing. The appraisal process determined the purchase price as of October 8, 2013 to be $85.0 million , prior to any adjustment to reflect the period through the closing date. Approval of the NMPRC and FERC would be required, which process could take up to 15 months. On May 30, 2014, after evaluating its alternatives with respect to Valencia, PNM notified the owner of Valencia that PNM intended to purchase 50% of the plant, subject to certain conditions. PNM’s conditions include: agreeing on the purchase price, adjusted to reflect the period between October 8, 2013 and the closing; approval of the NMPRC, including specified ratemaking treatment, and FERC; approval of the Board and PNM’s board of directors; receipt of other necessary approvals and consents; and other customary closing conditions. PNM received a letter dated June 30, 2014 from the owner of Valencia suggesting that the conditions set forth in PNM’s notification raise issues under the PPA. The owner of Valencia subsequently submitted a counter-proposal to PNM in April 2015. PNM is evaluating available options. PNM cannot predict if it will reach agreement with the owner of Valencia, if required regulatory and other approvals will be received, or if the purchase will be completed. PVNGS Leases PNM is leasing portions of its interests in Units 1 and 2 of PVNGS, which initially were scheduled to expire on January 15, 2015 for the four Unit 1 leases and January 15, 2016 for the four Unit 2 leases. Each of the lease agreements was with a different trust whose beneficial owners were five different institutional investors. PNM is not the legal or tax owner of the leased assets. The beneficial owners of the trusts possess all of the voting control and pecuniary interests in the trusts. See Note 7 for additional information regarding the leases and actions PNM has taken with respect to its renewal and purchase options. At January 15, 2015, the four Unit 1 leases were extended. At January 15, 2016, one of the Unit 2 leases was extended and PNM purchased the assets underlying the other three Unit 2 leases. Prior to their exercise or expiration, the fixed rate renewal options were considered to be variable interests in the trusts and resulted in the trusts being considered variable interest entities under GAAP. Upon execution of documents establishing terms of the asset purchases or lease extensions, the fixed rate renewal options ceased to exist as did PNM’s variable interest in the trusts. PNM is only obligated to make payments to the trusts for the scheduled semi-annual lease payments and has no other financial obligations or commitments to the trusts or the beneficial owners although PNM is responsible for all decommissioning obligations related to its entire interest in PVNGS both during and after termination of the leases. Creditors of the trusts have no recourse to PNM’s assets other than with respect to the contractual lease payments. PNM has no additional rights to the assets of the trusts other than the use of the leased assets. PNM has no assets or liabilities recorded on its Consolidated Balance Sheets related to the trusts other than accrued lease payments of $18.4 million and $26.0 million at December 31, 2015 and 2014 , which are included in other current liabilities on the Consolidated Balance Sheets. PNM has evaluated the PVNGS lease arrangements, including actions taken with respect to the renewal and purchase options referred to above, and concluded that it does not have the power to direct the activities that most significantly impact the economic performance of the trusts and, therefore, is not the primary beneficiary of the trusts under GAAP. The significant factors considered in reaching this conclusion are: the periods covered by fixed price renewal options were significantly shorter than the anticipated remaining useful lives of the assets, particularly since the operating licenses for the plants have been extended for twenty years through 2045 for Unit 1 and 2046 for Unit 2 ; PNM’s only financial obligation to the trusts is to make the fixed lease payments and the payments do not vary based on the output of the plants or their performance; during the lease terms, the economic performance of the trusts is substantially fixed due to the fixed lease payments; PNM is only one of several participants in PVNGS and is not the operating agent for the plants, so does not significantly influence the day-to-day operations of the plants; furthermore, the operations of the plants, including plans for their decommissioning, are highly regulated by the NRC, leaving little room for the participants to operate the plants in a manner that impacts the economic performance of the trusts; the economic performance of the trusts at the end of the lease terms is dependent upon the fair value and remaining lives of the plants at that time, which are determined by factors such as power prices, outlook for nuclear power, and the impacts of potential carbon legislation or regulation, all which are outside of PNM’s control; and while PNM had some benefit from its renewal options, the vast majority of the value at the end of the leases will accrue to the beneficial owners of the trusts, particularly given increases in the value of existing nuclear generating facilities, which have no GHG, resulting from potential carbon legislation or regulation. Rio Bravo, formerly known as Delta PNM had a 20 -year PPA expiring in 2020 covering the entire output of Delta, which was a variable interest under GAAP. PNM controlled the dispatch of the generating plant, which impacted the variable payments made under the PPA and impacted the economic performance of the entity that owned Delta. This arrangement was entered into prior to December 31, 2003 and PNM was unsuccessful in obtaining the information necessary to determine if it was the primary beneficiary of the entity that owned Delta, or to consolidate that entity if it were determined that PNM was the primary beneficiary. Accordingly, PNM was unable to make those determinations and, as provided in GAAP, accounted for this PPA as an operating lease. In December 2012, PNM entered into an agreement with the owners of Delta under which PNM would purchase the entity that owned Delta. FERC approved the purchase on February 26, 2013 and the NMPRC approved the purchase on June 26, 2013. Closing was subject to the seller remedying specified operational, NERC compliance, and environmental issues, as well as other customary closing conditions. PNM closed on the purchase on July 17, 2014 and recorded the purchase as of that date. At closing, PNM made a cash payment of $22.8 million , which reflected an adjustment for working capital compared to a targeted working capital. Delta had project financing debt, amounting to $14.6 million at closing, which was retired at closing. PNM changed the name of the facility to Rio Bravo. PNM recorded the acquisition as a business combination and reflected the requirements of the FERC Uniform System of Accounts since the purchased assets are subject to traditional rate regulation by the NMPRC and FERC. Accordingly, as of the acquisition date, PNM recorded plant in service of $58.1 million and accumulated depreciation of $23.5 million , reflecting the original cost of the facilities and the estimated economic life to PNM. PNM also recorded current assets of $3.6 million , deferred charges of $3.4 million , current liabilities of $0.3 million , and non-current regulatory liabilities of $3.4 million . PNM made fixed and variable payments to Delta under the PPA. For the period from January 1, 2014 through July 17, 2014, PNM incurred fixed capacity charges of $3.5 million and variable energy charges of $0.6 million under the PPA. For the year ended December 31, 2013, PNM incurred fixed capacity charges of $6.4 million and variable energy charges of $1.8 million under the PPA. PNM recovered the variable energy charges through its FPPAC. PNM began consolidating Rio Bravo at the date of the acquisition. Prior to the acquisition, consolidation of Delta would have been immaterial to the Consolidated Balance Sheets of PNMR and PNM. Since all of Delta’s revenues and expenses were attributable to its PPA arrangement with PNM, the primary impact of consolidating Delta to the Consolidated Statements of Earnings of PNMR and PNM would have been to reclassify Delta’s net earnings from operating expenses and reflect such amount as earnings attributable to a non-controlling interest, without any impact to net earnings attributable to PNMR and PNM.

Earnings and Dividends Per Shar

Earnings and Dividends Per Share	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Earnings and Dividends Per Share	Earnings and Dividends Per Share In accordance with GAAP, dual presentation of basic and diluted earnings per share has been presented in the Consolidated Statements of Earnings of PNMR. Information regarding the computation of earnings per share and dividends per share is as follows: Year Ended December 31, 2015 2014 2013 (In thousands, except per share amounts) Earnings Attributable to PNMR $ 15,640 $ 116,254 $ 100,507 Average Number of Common Shares: Outstanding during year 79,654 79,654 79,654 Vested awards of restricted stock 105 134 191 Average Shares – Basic 79,759 79,788 79,845 Dilutive Effect of Common Stock Equivalents (1) : Stock options and restricted stock 380 491 586 Average Shares – Diluted 80,139 80,279 80,431 Net Earnings Per Share of Common Stock: Basic $ 0.20 $ 1.46 $ 1.26 Diluted $ 0.20 $ 1.45 $ 1.25 Dividends Declared per Common Share $ 0.820 $ 0.755 $ 0.680 (1) Excludes out-of-the-money options for 2,100 shares of common stock at December 31, 2015 . See Note 13.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes PNMR 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 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 % 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 ) 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 PNM 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 PNM’s provision for income taxes (benefit) 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 (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 % 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 ) 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 ) TNMP 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 TNMP’s provision for income taxes differed from the federal income tax computed at the statutory rate for each of the periods shown. 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 % 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 ) 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 Other Disclosures GAAP requires that the Company recognize only the impact of tax positions that, based on their technical merits, are more likely than not to be sustained upon an audit by the taxing authority. 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 $ — Included in the balance at December 31, 2015 are $5.9 million and $3.1 million of unrecognized tax benefits that, if recognized, would affect the effective tax rate for PNMR and PNM. The Company does not anticipate that any unrecognized tax expenses or unrecognized tax benefits will be reduced or settled in 2016 . Estimated interest income related to refunds the Company expects to receive is included in Other Income and estimated interest expense and penalties related to potential cash settlements are included in interest expense in the Consolidated Statements of Earnings (Loss). 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 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 ) The Company files a federal consolidated and several consolidated and separate state income tax returns. The tax years prior to 2012 are closed to examination by either federal or state taxing authorities other than Arizona. The tax years prior to 2009 are closed to examination by Arizona taxing authorities. Other tax years are open to examination by federal and state taxing authorities. At December 31, 2015 , the Company has $427.4 million of federal net operating loss carryforwards that expire beginning in 2030 and $77.4 million of federal tax credit carryforwards that expire beginning in 2023. State net operating losses expire beginning in 2016 and vary from federal due to differences between state and federal tax law. In 2013, New Mexico House Bill 641 reduced the New Mexico corporate income tax rate from 7.6% to 5.9% . The rate reduction is being phased-in from 2014 to 2018. In accordance with GAAP, PNMR and PNM adjusted accumulated deferred income taxes to reflect the tax rate at which the balances are expected to reverse during the period that includes the date of enactment, which was in the year ended December 31, 2013. At that time, the portion of the adjustment related to PNM’s regulated activities was recorded as a reduction in deferred tax liabilities, which was offset by an increase in a regulatory liability, on the assumption that PNM will be required to return the benefit to customers over time. In addition, the portion of the adjustment that is not related to PNM’s regulated activities was recorded in PNMR’s Corporate and Other segment as a reduction in deferred tax assets and an increase in income tax expense. Changes in the estimated timing of reversals of deferred tax assets and liabilities will result in refinements of the impacts of this change in tax rates being recorded periodically until 2018, when the rate reduction is fully phased-in. Adjustments to deferred income taxes recorded as increases (decreases) in the regulatory liability and income tax expense are as follows: 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 $ — $ — In 2008, fifty percent bonus tax depreciation was enacted as a temporary two-year stimulus measure as part of the Economic Stimulus Act of 2008. Bonus tax depreciation in various forms has been continuously extended since that time, most recently by the Protecting Americans from Tax Hikes Act of 2015. The 2015 act extends and phases-out bonus tax depreciation through 2019. As a result of the net operating loss carryforwards for income tax purposes created by bonus depreciation, and reduced future income taxes payable resulting from New Mexico House Bill 641, certain tax carryforwards are not expected to be utilized before their expiration. In accordance with GAAP, PNMR and PNM have impaired the tax carryforwards which were not expected to be utilized prior to their expiration. The impairments, net of federal tax benefit, for 2013 through 2015 are as follows: 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 $ — $ — The impairments of unexpired state tax credits, state net operating loss, and charitable contribution carryforwards are reflected as a valuation allowance against deferred tax assets. The reserve balances, after reflecting expiration of carryforwards under applicable tax laws, at December 31, 2015 and 2014 are as follows: 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 $ — PNMR adopted the safe harbor method of accounting for repairs costs on electric generation property under IRS Revenue Procedure 2013-24 on its 2014 corporate income tax return. PNMR had previously adopted similar safe harbor accounting methods for repair costs on electric transmission and distribution property. Additionally, on its 2014 tax return PNMR adopted certain accounting methods required by the IRS tangible property regulations issued in September 2013. The effects of these changes were immaterial, given PNMR’s net operating loss carryforward position. In May 2013, PNMR received a refund of federal income taxes paid in prior years, which primarily was due to bonus tax depreciation and changes in the Company’s method of accounting for repairs expense for income tax purposes. The total refund was $96.2 million of which $77.4 million was attributable to PNM. In 2014, the Company settled the IRS examination of income tax years 2003 and 2005 through 2008. As a result of the settlement, the Company received net federal tax refunds of $2.0 million . The IRS examination resulted in the settlement of certain issues for which the Company had previously reflected liabilities related to uncertain tax positions. The settlement of the IRS examination, including the uncertain tax position matters, resulted in PNMR recording an income tax benefit of $0.2 million on a consolidated basis in the year ended December 31, 2014. PNM recorded an income tax expense of $1.1 million , TNMP reflected no impact, and an income tax benefit of $1.3 million was recorded in PNMR’s Corporate and Other segment. On November 20, 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740 ) - Balance Sheet Classification of Deferred Taxes , which eliminated the requirement to classify deferred tax assets and liabilities as non-current or current. Under ASU 2015-17, all deferred taxes are treated as non-current. As of December 31, 2015, the Company adopted ASU 2015-17 and elected to apply it retrospectively for all periods presented because it simplifies reporting and makes all presented periods comparable. As a result, amounts previously reported as the current portion of accumulated deferred income taxes in Current Assets on the December 31, 2014 Consolidated Balance Sheets were reclassified to reduce accumulated deferred income taxes in Deferred Credits and Other Liabilities. The amounts reclassified were $26.4 million for PNMR, $12.4 million for PNM, and $6.4 million for TNMP.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits PNMR and its subsidiaries maintain qualified defined benefit pension plans, postretirement benefit plans providing medical and dental benefits, and executive retirement programs (collectively, the “PNM Plans” and “TNMP Plans”). PNMR maintains the legal obligation for the benefits owed to participants under these plans. The periodic costs or income of the PNM Plans and TNMP Plans are included in regulated rates to the extent attributable to regulated operations. PNM receives a regulated return on the amount it has funded for its pension plan in excess of the periodic cost or income to the extent included in retail rates. Participants in the PNM Plans include eligible employees and retirees of PNMR and other subsidiaries of PNMR. Participants in the TNMP Plans include eligible employees and retirees of TNMP. The PNM pension plan was frozen at the end of 1997 with regard to new participants, salary levels, and benefits. Through December 31, 2007, additional credited service could be accrued under the PNM pension plan up to a limit determined by age and service. The TNMP pension plan was frozen at December 31, 2005 with regard to new participants, salary levels, and benefits. GAAP requires a plan sponsor to (a) recognize in its statement of financial position an asset for a plan’s overfunded status or a liability for a plan’s underfunded status; (b) measure a plan’s assets and its obligations that determine its funded status as of the end of the employer’s fiscal year; and (c) recognize changes in the funded status of a defined benefit postretirement plan in the year in which the changes occur. GAAP requires unrecognized prior service costs and unrecognized gains or losses to be recorded in AOCI and subsequently amortized. The amortization of these incurred costs is included as pension and postretirement benefit periodic cost or income in subsequent years. To the extent the amortization of these items will ultimately be recovered or returned through future rates, PNM and TNMP record the costs as a regulatory asset or regulatory liability. For the PNM Plans and TNMP Plans, the Company has in place a policy that defines the investment objectives, establishes performance goals of asset managers, and provides procedures for the manner in which investments are to be reviewed. The plans implement investment strategies to achieve the following objectives: • Maximize the return on assets, commensurate with the risk that the Corporate Investment Committee deems appropriate to meet the obligations of the pension plans and OPEB plans, minimize the volatility of expense, and account for contingencies • Transition asset mix over time to a higher proportion of high quality fixed income investments as the plans’ funded statuses improve Management is responsible for the determination of the asset target mix and the expected rate of return. The target asset allocations are determined based on consultations with external investment advisors. The expected long-term rate of return on pension and postretirement plan assets is calculated on the market-related value of assets. GAAP requires that actual gains and losses on pension and postretirement plan assets be recognized in the market-related value of assets equally over a period of not more than five years, which reduces year-to-year volatility. For the PNM Plans and TNMP Plans, the market-related value of assets is equal to the prior year’s market related value of assets adjusted for contributions, benefit payments and investment gains and losses that are within a corridor of plus or minus 4.0% around the expected return on market value. Gains and losses that are outside the corridor are amortized over five years. Pension Plans For defined benefit pension plans, including the executive retirement plans, the PBO represents the actuarial present value of all benefits attributed by the pension benefit formula to employee service rendered prior to that date using assumptions regarding future compensation levels. The ABO represents the PBO without considering future compensation levels. Since the plans are frozen, the PBO and ABO are equal. The following table presents information about the PBO, fair value of plan assets, and funded status of the plans: PNM Plan TNMP Plan Year Ended December 31, Year Ended December 31, 2015 2014 2015 2014 (In thousands) PBO at beginning of year $ 657,557 $ 599,537 $ 72,305 $ 66,159 Service cost — — — — Interest cost 28,255 30,163 3,043 3,193 Actuarial (gain) loss (38,151 ) 72,524 (5,157 ) 8,466 Benefits paid (49,761 ) (44,667 ) (5,993 ) (5,513 ) PBO at end of year 597,900 657,557 64,198 72,305 Fair value of plan assets at beginning of year 587,909 556,353 69,177 66,118 Actual return on plan assets (10,225 ) 76,223 (1,102 ) 8,572 Employer contributions 30,000 — — — Benefits paid (49,761 ) (44,667 ) (5,993 ) (5,513 ) Fair value of plan assets at end of year 557,923 587,909 62,082 69,177 Funded status – asset (liability) for pension benefits $ (39,977 ) $ (69,648 ) $ (2,116 ) $ (3,128 ) The following table presents pre-tax information about prior service cost and net actuarial (gain) loss in AOCI as of December 31, 2015 . PNM Plan TNMP Plan December 31, 2015 December 31, 2015 Prior service cost Net actuarial (gain) loss Net actuarial (gain) loss (In thousands) Amounts in AOCI not yet recognized in net periodic benefit cost (income) at beginning of year $ (2,260 ) $ 148,212 $ — Experience loss (gain) — 11,397 365 Regulatory asset (liability) adjustment — (6,610 ) (365 ) Amortization recognized in net periodic benefit cost (income) 405 (6,224 ) — Amounts in AOCI not yet recognized in net periodic benefit cost (income) at end of year $ (1,855 ) $ 146,775 $ — Amortization expected to be recognized in 2016 $ (405 ) $ 5,399 $ — The following table presents the components of net periodic benefit cost (income): Year Ended December 31, 2015 2014 2013 (In thousands) PNM Plan Service cost $ — $ — $ — Interest cost 28,255 30,163 28,142 Expected return on plan assets (39,323 ) (38,044 ) (41,930 ) Amortization of net (gain) loss 14,820 13,020 14,840 Amortization of prior service cost (965 ) (965 ) 76 Net periodic benefit cost $ 2,787 $ 4,174 $ 1,128 TNMP Plan Service cost $ — $ — $ — Interest cost 3,043 3,193 3,087 Expected return on plan assets (4,420 ) (4,526 ) (4,849 ) Amortization of net (gain) loss 782 665 1,049 Amortization of prior service cost — — — Net periodic benefit cost (income) $ (595 ) $ (668 ) $ (713 ) The following significant weighted-average assumptions were used to determine the PBO and net periodic benefit cost (income). Should actual experience differ from actuarial assumptions, the PBO and net periodic benefit cost (income) would be affected. Year Ended December 31, PNM Plan 2015 2014 2013 Discount rate for determining December 31 PBO 5.29 % 4.48 % 5.27 % Discount rate for determining net periodic benefit cost (income) 4.48 % 5.27 % 4.30 % Expected return on plan assets 6.80 % 7.20 % 7.65 % Rate of compensation increase N/A N/A N/A TNMP Plan Discount rate for determining December 31 PBO 5.39 % 4.39 % 5.06 % Discount rate for determining net periodic benefit cost (income) 4.39 % 5.06 % 4.19 % Expected return on plan assets 6.80 % 7.20 % 7.65 % Rate of compensation increase N/A N/A N/A The assumed discount rate for determining the PBO was determined based on a review of long-term high-grade bonds and management’s expectations. Changes in discount rates resulted in a decrease in the PNM PBO of $45.9 million at December 31, 2015 and an increase of $50.6 million at December 31, 2014. Changes in discount rates resulted in a decrease in the TNMP PBO of $6.1 million at December 31, 2015 and an increase of $5.1 million at December 31, 2014 . Changes in demographic experience resulted in actuarial losses in the PNM PBO of $2.8 million and $0.2 million at December 31, 2015 and 2014 . Changes in demographic experience resulted in actuarial losses in the TNMP PBO of $0.9 million at December 31, 2015 and actuarial gains of $0.4 million at December 31, 2014. Changes in other assumptions and experience resulted in actuarial losses in the PNM PBO of $4.9 million at December 31, 2015 and actuarial gains of less than $0.2 million at December 31, 2014. Changes in other assumptions and experience resulted in actuarial losses in the TNMP PBO of less than $0.1 million and $1.3 million at December 31, 2015 and 2014. These changes are reflected as actuarial (gain) loss above. In late 2014, the Society of Actuaries issued revised mortality tables that include changes in assumptions to reflect increased life expectancy and the corresponding decrease in mortality rates. This change impacts the Company’s pension plans, as the mortality assumptions are used as the basis for stating the pension obligation in financial statements, determining funding requirements, and making minimum lump-sum calculations. The actuarial valuation performed as of December 31, 2015 and 2014 incorporated the impacts of the revised mortality tables. Utilizing the revised mortality tables increased the PNM PBO by $21.9 million and the TNMP PBO by $2.5 million in 2014, which are reflected as the actuarial losses above. The expected long-term rate of return on plan assets reflects the average rate of earnings expected on the funds invested, or to be invested, to provide for the benefits included in the PBO. Factors that are considered include, but are not limited to, historic returns on plan assets, current market information on long-term returns (e.g., long-term bond rates) and current and target asset allocations between asset categories. If all other factors were to remain unchanged, a 1% decrease in the expected long-term rate of return would cause PNM’s and TNMP’s 2016 net periodic cost to increase $5.4 million and $0.6 million (analogous changes would result from a 1% increase). The actual rate of return for the PNM and TNMP pension plans was (1.7)% and (1.7)% for the year ended December 31, 2015 . The Company’s long-term pension investment strategy is to invest in assets whose interest rate sensitivity is correlated with the pension liability. The Company has chosen to implement this strategy known as Liability Driven Investing (“LDI”) by increasing the liability matching investments as the funded status of the pension plans improves. These liability matching investments are currently fixed income securities. The pension plans current targeted asset allocation is 21% equities, 65% fixed income, and 14% alternative investments. Equity investments are primarily in domestic securities that include large, mid, and small capitalization companies. The pension plans have a 6% targeted allocation to equities of companies domiciled primarily in developed countries outside of the United States. This category includes actively managed international and domestic equity securities that are benchmarked against a variety of style indices. Fixed income investments are primarily corporate bonds of companies from diversified industries, and government securities. Alternative investments include investments in hedge funds, real estate funds, and private equity funds. The hedge funds and private equity funds are structured as multi-manager multi-strategy fund of funds to achieve a diversified position in these asset classes. The hedge funds pursue various absolute return strategies such as relative value, long-short equity, and event driven. Private equity fund strategies include mezzanine financing, buy-outs, and venture capital. The real estate investment is structured as an open-ended, commingled private real estate portfolio that invests in a diversified portfolio of assets including commercial property and multi-family housing. See Note 8 for fair value information concerning assets held by the pension plans. The following pension benefit payments are expected to be paid: PNM Plan TNMP Plan (In thousands) 2016 $ 49,963 $ 5,800 2017 49,681 5,416 2018 48,209 5,697 2019 47,476 5,218 2020 46,474 4,955 2021 – 2025 213,810 23,401 The Company does not expect to make any contributions to the pension plans in 2016-2020, based on current law, including recent amendments to funding requirements, and estimates of portfolio performance. These anticipations were developed using current funding assumptions with discount rates of 4.8% to 5.7% . Actual amounts to be funded in the future will be dependent on the actuarial assumptions at that time, including the appropriate discount rate. PNM and TNMP may make additional contributions at their discretion. Other Postretirement Benefit Plans For postretirement benefit plans, the APBO is the actuarial present value of all future benefits attributed under the terms of the postretirement benefit plan to employee service rendered to date. The following table presents information about the APBO, the fair value of plan assets, and the funded status of the plans: PNM Plan TNMP Plan Year Ended December 31, Year Ended December 31, 2015 2014 2015 2014 (In thousands) APBO at beginning of year $ 95,175 $ 92,165 $ 14,070 $ 12,266 Service cost 204 181 247 237 Interest cost 4,089 4,630 608 619 Participant contributions 2,439 2,582 320 366 Actuarial (gain) loss (6,565 ) 4,455 (575 ) 1,639 Benefits paid (10,668 ) (8,838 ) (1,564 ) (1,057 ) APBO at end of year 84,674 95,175 13,106 14,070 Fair value of plan assets at beginning of year 78,175 73,565 10,094 9,601 Actual return on plan assets (617 ) 7,334 (82 ) 841 Employer contributions 3,623 3,532 343 343 Participant contributions 2,439 2,582 320 366 Benefits paid (10,668 ) (8,838 ) (1,564 ) (1,057 ) Fair value of plan assets at end of year 72,952 78,175 9,111 10,094 Funded status – asset (liability) $ (11,722 ) $ (17,000 ) $ (3,995 ) $ (3,976 ) In the years ended December 31, 2015, actuarial gains of $0.3 million were recorded as adjustments to regulatory assets for the PNM Plan. For the TNMP Plan, actuarial losses of less than $0.1 million were recorded as adjustments to regulatory liabilities. The following table presents the components of net periodic benefit cost: Year Ended December 31, 2015 2014 2013 (In thousands) PNM Plan Service cost $ 204 $ 181 $ 260 Interest cost 4,089 4,630 4,113 Expected return on plan assets (5,610 ) (5,638 ) (5,043 ) Amortization of net (gain) loss 1,966 2,225 4,242 Amortization of prior service credit (642 ) (1,343 ) (1,343 ) Net periodic benefit cost $ 7 $ 55 $ 2,229 TNMP Plan Service cost $ 247 $ 237 $ 299 Interest cost 608 619 566 Expected return on plan assets (520 ) (534 ) (503 ) Amortization of net (gain) loss — (122 ) — Amortization of prior service cost — 32 57 Net periodic benefit cost $ 335 $ 232 $ 419 The following significant weighted-average assumptions were used to determine the APBO and net periodic benefit cost. Should actual experience differ from actuarial assumptions, the APBO and net periodic benefit cost would be affected. Year Ended December 31, PNM Plan 2015 2014 2013 Discount rate for determining December 31 APBO 5.34 % 4.45 % 5.21 % Discount rate for determining net periodic benefit cost 4.45 % 5.21 % 4.26 % Expected return on plan assets 7.70 % 8.50 % 8.50 % Rate of compensation increase N/A N/A N/A TNMP Plan Discount rate for determining December 31 APBO 5.34 % 4.45 % 5.21 % Discount rate for determining net periodic benefit cost 4.45 % 5.21 % 4.26 % Expected return on plan assets 5.70 % 6.50 % 6.50 % Rate of compensation increase N/A N/A N/A The assumed discount rate for determining the APBO was determined based on a review of long-term high-grade bonds and management’s expectations. Changes in the discount rates resulted in a decrease in the PNM APBO of $7.3 million at December 31, 2015 and an increase of $6.7 million at December 31, 2014 . Changes in discount rates resulted in a decrease in the TNMP APBO of $1.3 million at December 31, 2015 and an increase of $1.1 million at December 31, 2014 . Changes in claims, contributions, medical trends, and demographic experience resulted in an actuarial loss in the PNM plan of $0.7 million at December 31, 2015 and an actuarial gain of $5.4 million at December 31, 2014 . Changes in claims, contributions, and demographic experience resulted in an actuarial losses of $0.7 million change in the TNMP plan at December 31, 2015 and less than $0.1 million at December 31, 2014 . These changes are reflected as actuarial (gain) loss above. The actuarial valuations performed as of December 31, 2015 and 2014 incorporated the impacts of the revised mortality tables discussed above. Utilizing the revised mortality tables increased the PNM APBO by $3.2 million and the TNMP APBO by $0.5 million in 2014, which are reflected as actuarial losses above. The expected long-term rate of return on plan assets reflects the average rate of earnings expected on the funds invested, or to be invested, to provide for the benefits included in the APBO. Factors that are considered include, but are not limited to, historic returns on plan assets, current market information on long-term returns (e.g., long-term bond rates), and current and target asset allocations between asset categories. If all other factors were to remain unchanged, a 1% decrease in the expected long-term rate of return would cause PNM’s and TNMP’s 2016 postretirement benefit cost to increase $0.7 million and $0.1 million (analogous changes would result from a 1% increase). The actual rate of return for the PNM and TNMP postretirement benefit plans was (0.8)% and (0.5)% for the year ended December 31, 2015 . The following table shows the assumed health care cost trend rates for the PNM postretirement benefit plan: PNM Plan December 31, 2015 2014 Health care cost trend rate assumed for next year 7.0 % 7.0 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 5.0 % 5.0 % Year that the rate reaches the ultimate trend rate 2024 2023 The following table shows the impact of a one-percentage-point change in assumed health care cost trend rates: PNM Plan 1-Percentage- Point Increase 1-Percentage- Point Decrease (In thousands) Effect on total of service and interest cost $ 273 $ (235 ) Effect on APBO $ 4,370 $ (3,840 ) TNMP’s exposure to cost increases in the postretirement benefit plan is minimized by a provision that limits TNMP’s share of costs under the plan. Costs of the plan in excess of the limit are wholly borne by the participants. TNMP reached the cost limit at the end of 2001. As a result, a one-percentage-point change in assumed health care cost trend rates would have no effect on either the net periodic expense or the year-end APBO. The Company’s other postretirement benefit plans invest in a portfolio that is diversified by asset class and style strategies. The other postretirement benefit plans generally use the same pension fixed income and equity investment managers and utilize the same overall investment strategy as described above for the pension plans, except there is no allocation to alternative investments. The other postretirement benefit plans have a target asset allocation of 70% equities and 30% fixed income. See Note 8 for fair value information concerning assets held by the other postretirement benefit plans. The following other postretirement benefit payments, which reflect expected future service and are net of participant contributions, are expected to be paid: PNM Plan TNMP Plan (In thousands) 2016 $ 6,568 $ 838 2017 6,667 858 2018 6,815 880 2019 6,830 903 2020 6,875 927 2021 - 2025 33,268 4,939 PNM expects to make contributions to the PNM postretirement benefit plan totaling $3.5 million in 2016 and $14.0 million for 2017-2020. TNMP expects to make contributions to the TNMP postretirement benefit plan totaling $0.3 million in 2016 and $1.4 million for 2017-2020. Executive Retirement Programs For the executive retirement programs, the following table presents information about the PBO and funded status of the plans: PNM Plan TNMP Plan Year Ended Year Ended 2015 2014 2015 2014 (In thousands) PBO at beginning of year $ 17,730 $ 16,363 $ 878 $ 823 Service cost — — — — Interest cost 760 822 36 39 Actuarial (gain) loss (908 ) 2,040 (26 ) 110 Benefits paid (1,477 ) (1,495 ) (94 ) (94 ) PBO at end of year – funded status 16,105 17,730 794 878 Less current liability 1,519 1,528 93 94 Non-current liability $ 14,586 $ 16,202 $ 701 $ 784 The following table presents pre-tax information about net actuarial loss in AOCI as of December 31, 2015 . December 31, 2015 PNM Plan TNMP Plan (In thousands) Amount in AOCI not yet recognized in net periodic benefit cost at beginning of year $ 2,602 $ — Experience loss (gain) (908 ) 26 Regulatory asset (liability) adjustment 526 (26 ) Amortization recognized in net periodic benefit cost (income) (136 ) — Amount in AOCI not yet recognized in net periodic benefit cost at end of year $ 2,084 $ — Amortization expected to be recognized in 2016 $ 108 $ — The following table presents the components of net periodic benefit: Year Ended December 31, 2015 2014 2013 (In thousands) PNM Plan Service cost $ — $ — $ — Interest cost 760 822 720 Amortization of net (gain) loss 325 210 232 Amortization of prior service cost — — — Net periodic benefit cost $ 1,085 $ 1,032 $ 952 TNMP Plan Service cost $ — $ — $ — Interest cost 36 39 36 Amortization of net (gain) loss 5 — — Amortization of prior service cost — — — Net periodic benefit cost $ 41 $ 39 $ 36 The following significant weighted-average assumptions were used to determine the PBO and net periodic benefit cost. Should actual experience differ from actuarial assumptions, the PBO and net periodic benefit cost would be affected. Year Ended December 31, PNM Plan 2015 2014 2013 Discount rate for determining December 31 PBO 5.29 % 4.48 % 5.27 % Discount rate for determining net periodic benefit cost 4.48 % 5.27 % 4.30 % Long-term rate of return on plan assets N/A N/A N/A Rate of compensation increase N/A N/A N/A TNMP Plan Discount rate for determining December 31 PBO 5.39 % 4.39 % 5.06 % Discount rate for determining net periodic benefit cost 4.39 % 5.06 % 4.19 % Long-term rate of return on plan assets N/A N/A N/A Rate of compensation increase N/A N/A N/A The assumed discount rate for determining the PBO was determined based on a review of long-term high-grade bonds and management’s expectations. The impacts of changes in assumptions or experience were not significant. The following executive retirement plan payments, which reflect expected future service, are expected: PNM Plan TNMP Plan (In thousands) 2016 $ 1,517 $ 93 2017 1,499 92 2018 1,477 90 2019 1,453 88 2020 1,426 85 2021 – 2025 6,587 371 Other Retirement Plans PNMR sponsors a 401(k) defined contribution plan for eligible employees, including those of its subsidiaries. PNMR’s contributions to the 401(k) plan consist of a discretionary matching contribution equal to 75% of the first 6% of eligible compensation contributed by the employee on a before-tax basis. PNMR also makes a non-matching contribution ranging from 3% to 10% of eligible compensation based on the eligible employee’s age. PNMR also provides executive deferred compensation benefits through an unfunded, non-qualified plan. The purpose of this plan is to permit certain key employees of PNMR who participate in the 401(k) defined contribution plan to defer compensation and receive credits without reference to the certain limitations on contributions. Eligible employees had been allowed to save on an after-tax basis. This plan has been amended and the after-tax provision was eliminated as of June 30, 2015. A summary of expenses for these other retirement plans is as follows: Year Ended December 31, 2015 2014 2013 (In thousands) PNMR 401(k) plan $ 16,725 $ 16,703 $ 16,785 Non-qualified plan $ 1,436 $ 2,257 $ 2,204 PNM 401(k) plan $ 12,679 $ 12,745 $ 12,952 Non-qualified plan $ 1,090 $ 1,722 $ 1,691 TNMP 401(k) plan $ 4,046 $ 3,958 $ 3,953 Non-qualified plan $ 346 $ 535 $ 513

Stock-Based Compensation Plans

Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation PNMR has various stock-based compensation programs, including stock options, restricted stock, and performance shares granted under the Performance Equity Plan (“PEP”). Although certain PNM and TNMP employees participate in the PNMR plans, PNM and TNMP do not have separate employee stock-based compensation plans. In 2011, the Company changed its approach to awarding stock-based compensation. As a result, no stock options have been granted since 2010 and awards of restricted stock have increased. Certain restricted stock awards are subject to achieving performance or market targets. Other awards of restricted stock are only subject to time vesting requirements. Performance Equity Plan The PEP provides for the granting of non-qualified stock options, restricted stock rights, performance shares, performance units, and stock appreciation rights to officers, key employees, and non-employee board members. Restricted stock under the PEP refers to awards of stock subject to vesting, performance, or market conditions rather than to shares with contractual post-vesting restrictions. Generally, the awards vest ratably over three years from the grant date of the award. However, awards with performance or market conditions vest upon satisfaction of those conditions. In addition, plan provisions provide that upon retirement, participants become 100% vested in certain stock awards. The total number of shares of PNMR common stock subject to all awards under the PEP, as approved by PNMR’s shareholders in May 2014, may not exceed 13.5 million shares, subject to adjustment and certain share counting rules set forth in the PEP. This current share pool is charged five shares for each share subject to restricted stock or other full value award. Re-pricing of stock options is prohibited unless specific shareholder approval is obtained. Source of Shares The source of shares for exercised stock options and vested restricted stock is shares acquired on the open market by an independent agent, rather than newly issued shares. Accounting for Stock Awards The stock-based compensation expense related to restricted stock awards without performance or market conditions is amortized to compensation expense over the requisite vesting period, which is generally three years. However, compensation expense for awards to participants that are retirement eligible on the grant date is recognized immediately at the grant date and is not amortized. Compensation expense for performance-based shares is recognized ratably over the performance period and is adjusted periodically to reflect the level of achievement expected to be attained. Compensation expense related to market-based shares is recognized ratably over the measurement period, regardless of the actual level of achievement, provided the employees meet their service requirements. In June 2014, the FASB issued Accounting Standards Update 2014-12 – Compensation – Stock Compensation (Topic 718) Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period , which requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition and should not be reflected in estimating the grant date fair value of the award. The FASB issued ASU 2012-12 to eliminate diversity in practice. The Company currently treats the performance targets covered by the standard as performance conditions, so this ASU had no impact on the Company. Total compensation expense for stock-based payment arrangements recognized by PNMR for the years ended December 31, 2015 , 2014 , and 2013 was $4.9 million , $5.9 million , and $5.3 million . Stock compensation expense of $3.6 million , $4.2 million , and $3.8 million was charged to PNM and $1.3 million , $1.7 million , and $1.5 million was charged to TNMP. At December 31, 2015 , PNMR had unrecognized compensation expense related to stock awards of $5.7 million , which are expected to be recognized over an average of 1.4 years. PNMR receives a tax deduction for certain stock option exercises during the period the options are exercised, generally for the excess of the price at which the options are sold over the exercise prices of the options, and a tax deduction for the value of restricted stock at the vesting date. The grant date fair value for restricted stock and stock awards with Company internal performance targets is determined based on the market price of PNMR common stock on the date of the agreements reduced by the present value of future dividends, which will not be received prior to vesting, applied to the total number of shares that are anticipated to vest, although the number of performance shares that ultimately vest cannot be determined until after the performance periods end. The grant date fair value of stock awards with market targets is determined using Monte Carlo simulation models, which provide grant date fair values that include an expectation of the number of shares to vest at the end of the measurement period. The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value: Year Ended December 31, Restricted Shares and Performance-Based Shares 2015 2014 2013 Expected quarterly dividends per share $ 0.200 $ 0.185 $ 0.165 Risk-free interest rate 0.92 % 0.62 % 0.34 % Market-Based Shares Dividend yield 2.87 % 2.82 % 2.86 % Expected volatility 18.73 % 25.11 % 25.11 % Risk-free interest rate 1.00 % 0.64 % 0.36 % The following table summarizes activity in restricted stock awards, including performance-based and market-based shares, and stock options: Restricted Stock Stock Options Shares Weighted-Average Grant Date Fair Value Shares Weighted Average Exercise Price Outstanding at December 31, 2014 258,770 $ 22.31 920,505 $ 20.39 Granted 340,020 $ 20.34 — $ — Exercised (349,635 ) $ 18.61 (280,612 ) $ 20.13 Forfeited (4,061 ) $ 24.81 (1,000 ) $ 30.50 Expired — — (69,551 ) $ 28.02 Outstanding at December 31, 2015 245,094 $ 24.81 569,342 $ 19.35 PNMR’s stock-based compensation program provides for performance and market targets through 2017. Included as restricted stock granted and exercised in the above table are 179,845 previously awarded shares that were earned for the 2012 through 2014 performance measurement period and approved by the Board in February 2015 (based upon achieving market targets at “target” levels, weighted at 60% , and performance targets at “maximum” levels, weighted at 40% , for 2012 through 2014 performance period. Excluded from the above table are 79,619 previously awarded shares that were earned for the 2013 through 2015 performance measurement period and approved by the Board in February 2016 (based upon achieving market targets at “target” levels, weighted at 60% , and performance targets at “threshold” levels, weighted at 40% ), as well as maximums of 165,628 and 168,258 shares for the three-year performance periods ending in 2016 and 2017 that would be awarded if all performance and market criteria are achieved at maximum levels and all executives remain eligible. In March 2012, the Company entered into a retention award agreement with its Chairman, President, and Chief Executive Officer under which she would receive 135,000 shares of PNMR’s common stock if PNMR meets specific market targets at the end of 2016 and she remains an employee of the Company. Under the agreement, she would receive 35,000 of the total shares if PNMR achieved specific market targets at the end of 2014. The specified market target was achieved at the end of 2014 and the Board approved her receiving the 35,000 shares in February 2015, which shares are included as granted and exercised in the above table. The retention award was made under the PEP and was approved by the Board on February 28, 2012. The above table does not include any restricted stock shares that remain unvested under this retention award agreement. Effective as of January 1, 2015, the Company entered into a retention award agreement with its Executive Vice President and Chief Financial Officer under which he would receive awards of restricted stock if PNMR meets specific performance targets at the end of 2016 and 2017 and he remains an employee of the Company. If PNMR achieves the specific performance target for the period from January 1, 2015 through December 31, 2016, he would receive $100,000 of PNMR common stock based on the market value per share on the grant date in early 2017. Similarly, if PNMR achieves the specific performance target for the period from January 1, 2015 through December 31, 2017, he would receive $275,000 of PNMR common stock based on the market value per share on the grant date in early 2018. If the target for the first performance period is not met, but the target for the second performance period is met, he would receive both awards, less any amount received previously under the agreement. The retention award was made under the PEP and was approved by the Board on December 9, 2014. The above table does not include any restricted stock shares under this retention award agreement. In March 2015, the Company entered into a retention award agreement with its Chairman, President, and Chief Executive Officer under which she would receive 53,859 shares of PNMR’s common stock if PNMR meets certain performance targets at the end of 2019 and she remains an employee of the Company. Under the agreement, she would receive 17,953 of the total shares if PNMR achieves specific performance targets at the end of 2017. The retention award was made under the PEP and was approved by the Board on February 26, 2015. The above table does not include any restricted stock shares under this retention award agreement. At December 31, 2015 , the aggregate intrinsic value of stock options outstanding, all of which are exercisable, was $6.4 million with a weighted-average remaining contract life of 2.27 years. At December 31, 2015 , the exercise price of 2,100 outstanding stock options was greater than the closing price of PNMR common stock on that date; therefore those options have no intrinsic value. The following table provides additional information concerning stock options, and restricted stock activity including performance-based and market-based shares: Year Ended December 31, Restricted Stock 2015 2014 2013 Weighted-average grant date fair value $ 20.34 $ 21.27 $ 20.03 Total fair value of restricted shares that vested (in thousands) $ 6,507 $ 4,933 $ 4,395 Stock Options Weighted-average grant date fair value of options granted $ — $ — $ — Total fair value of options that vested (in thousands) $ — $ — $ 625 Total intrinsic value of options exercised (in thousands) $ 2,350 $ 2,473 $ 2,721

Construction Program and Jointl

Construction Program and Jointly-Owned Electric Generating Plants	12 Months Ended
	Dec. 31, 2015
Construction Program and Jointly-Owned Electric Generating Plants [Abstract]
Construction Program and Jointly-Owned Electric Generating Plants	Construction Program and Jointly-Owned Electric Generating Plants PNM is a participant in several jointly-owned power plant projects. The primary operating or participation agreements for the joint projects expire in July 2016 for Four Corners, July 2022 for SJGS, December 2046 for Luna, and November 2047 for PVNGS. The Four Corners owners executed amendments to the agreements governing the operations of Four Corners that would extend those agreements until July 2041. The amendments are expected to become effective in July 2016. PNM’s expenditures for additions to utility plant were $404.8 million in 2015 , including expenditures on jointly-owned projects. TNMP does not participate in the ownership or operation of any generating plants, but incurred expenditures for additions to utility plant of $124.6 million during 2015 . On a consolidated basis, PNMR’s expenditures for additions to utility plant were $558.6 million in 2015 . Joint Projects Under the agreements for the jointly-owned projects, PNM has an undivided interest in each asset and liability of the project and records its pro-rata share of each item in the corresponding asset and liability account on PNM’s Consolidated Balance Sheets. Likewise, PNM records its pro-rata share of each item of operating and maintenance expenses for its jointly-owned plants within the corresponding operating expense account in its Consolidated Statements of Earnings. PNM is responsible for financing its share of the capital and operating costs of the joint projects. At December 31, 2015 , PNM’s interests and investments in jointly-owned generating facilities are: Station (Fuel Type) Plant in Service Accumulated Depreciation Construction Work in Progress Composite Interest (In thousands) SJGS (Coal) (1) $ 1,083,331 $ (428,684 ) $ 20,117 46.30 % PVNGS (Nuclear) (2) $ 562,412 $ (164,549 ) $ 38,966 10.20 % Four Corners Units 4 and 5 (Coal) $ 167,874 $ (102,559 ) $ 19,390 13.00 % Luna (Gas) $ 69,259 $ (23,048 ) $ 33 33.33 % (1) As discussed in Note 16, the NMPRC has approved the shutdown of SJGS Units 2 and 3 as of December 31, 2017. At December 31, 2015, PNM’s carrying value for its current ownership share of SJGS Units 2 and 3 included plant in service of $468.2 million , accumulated depreciation and amortization of $193.3 million , and construction work in progress of $2.2 million for a net undepreciated net book value of $277.1 million , which amounts are included in the table above. At December 31, 2015, PNM recorded a regulatory disallowance of $127.6 million representing its estimate of the portion of the December 31, 2017 net book value of SJGS Units 2 and 3 that will not be recovered from ratepayers, which is reflected as a reduction of plant in service on the Consolidated Balance Sheets. (2) Includes interest in PVNGS Unit 3 , interest in common facilities for all PVNGS units, and owned interests in PVNGS Units 1 and 2 . San Juan Generating Station PNM operates and jointly owns SJGS. SJGS Units 1 and 2 are owned on a 50% shared basis with Tucson. SJGS Unit 3 is owned 50% by PNM, 41.8% by SCPPA, and 8.2% by Tri-State. SJGS Unit 4 is owned 38.457% by PNM, 28.8% by MSR, 10.04% by Anaheim, 8.475% by Farmington, 7.2% by Los Alamos, and 7.028% by UAMPS. See Note 16 for additional information about SJGS, including the agreement for restructuring of SJGS ownership. Under the restructuring agreement, PNM would own 64.5% of Unit 4, PNMR Development would own 12.8% of Unit 4, and SCPPA, Tri-State, MSR, and Anaheim would no longer have any ownership interest in SJGS following the December 31, 2017 restructuring. PNMR anticipates that the interest of PNMR Development will be transferred to PNM, as authorized by the NMPRC, prior to the restructuring date. Palo Verde Nuclear Generating Station PNM is a participant in the three units of PVNGS, also known as the Arizona Nuclear Power Project, with APS (the operating agent), SRP, EPE, SCE, SCPPA, and The Department of Water and Power of the City of Los Angeles. PNM has a 10.2% undivided interest in PVNGS, with portions of its interests in Units 1 and 2 held under leases. See Note 7 for additional information concerning the PVNGS leases, including PNM’s notices that it will exercise its option to purchase the assets underlying certain of the leases at the expiration of the leases on January 15, 2016. Operation of each of the three PVNGS units requires an operating license from the NRC. The NRC issued full power operating licenses for Unit 1 in June 1985, Unit 2 in April 1986, and Unit 3 in November 1987. The full power operating licenses were originally for a period of 40 years and authorize APS, as operating agent for PVNGS, to operate the three PVNGS units. On April 21, 2011, the NRC approved extensions in the operating licenses for the plants for 20 years through June 2045 for Unit 1, April 2046 for Unit 2, and November 2047 for Unit 3. In April 2010, APS entered into a Municipal Effluent Purchase and Sale Agreement that provides effluent water rights necessary for cooling purposes at PVNGS through 2050. Four Corners Power Plant PNM is a participant in two units of Four Corners with APS (the operating agent), EPE, SRP, and Tucson. PNM has a 13.0% undivided interest in Units 4 and 5 of Four Corners. The Four Corners plant site is leased from the Navajo Nation and is also subject to an easement from the federal government. APS, on behalf of the Four Corners participants, negotiated amendments to an existing facility lease with the Navajo Nation, which extends the Four Corners leasehold interest from 2016 to 2041. See Note 16 for additional information about Four Corners. Luna Energy Facility Luna is a combined-cycle power plant near Deming, New Mexico. Luna is owned equally by PNM, Tucson, and Samchully Power & Utilities 1, LLC. The operation and maintenance of the facility has been contracted to North American Energy Services. Construction Program The Company anticipates making substantial capital expenditures for the construction and acquisition of utility plant and other property and equipment. An unaudited summary of the budgeted construction expenditures, including expenditures for jointly-owned projects, and nuclear fuel, is as follows: 2016 2017 2018 2019 2020 Total (In millions) PNM $ 396.4 $ 295.1 $ 269.3 $ 220.3 $ 183.7 $ 1,364.8 TNMP 114.6 101.1 114.3 117.0 126.3 573.3 Corporate and Other 35.8 18.9 14.1 15.1 15.0 98.9 Total PNMR $ 546.8 $ 415.1 $ 397.7 $ 352.4 $ 325.0 $ 2,037.0 The construction expenditure estimates are under continuing review and subject to ongoing adjustment, as well as to Board review and approval. The construction expenditures above include estimated amounts of $1.3 million related to environmental upgrades at SJGS to address regional haze and $100.8 million related to the identified sources of replacement capacity under the revised plan for compliance described in Note 16. The above construction expenditures also include environmental upgrades at Four Corners estimated to be $88.7 million , and the $163.3 million purchase of the assets underlying three of the PVNGS Unit 2 leases at the expiration of those leases on January 15, 2016.

Asset Retirement Obligations

Asset Retirement Obligations	12 Months Ended
	Dec. 31, 2015
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations AROs are recorded based on the determination of underlying assumptions, such as discount rates, estimates of the future costs for decommissioning, and the timing of the removal activities to be performed. Any changes in these assumptions underlying the required calculations may require revisions to the estimated AROs when identified. A reconciliation of the ARO liability is as follows: PNMR PNM TNMP (In thousands) Liability at December 31, 2012 $ 85,893 $ 85,042 $ 732 Liabilities incurred — — — Liabilities settled (79 ) (67 ) (12 ) Accretion expense 7,245 7,174 62 Revisions to estimated cash flows (1) 3,076 3,076 — Liability at December 31, 2013 96,135 95,225 782 Liabilities incurred — — — Liabilities settled — — — Accretion expense 7,984 7,906 66 Revisions to estimated cash flows 51 51 — Liability at December 31, 2014 104,170 103,182 848 Liabilities incurred — — — Liabilities settled (730 ) (506 ) (224 ) Accretion expense 8,625 8,543 71 Revisions to estimated cash flows (2) (170 ) (170 ) — Liability at December 31, 2015 $ 111,895 $ 111,049 $ 695 (1) Based on studies to estimate the amount and timing of future ARO expenditures. PNM has an ARO for PVNGS that includes the obligations for nuclear decommissioning of that facility. In 2013, a new decommissioning study for PVNGS was implemented reflecting updated cash flow estimates, including the extended operating licenses. The new study resulted in an increase of $0.5 million to the ARO. In addition, a new decommissioning study for SJGS was implemented in 2013, resulting in a $2.5 million increase to the ARO. (2) Based on studies to estimate the amount and timing of future ARO expenditures. PNM has an ARO for Four Corners that includes obligations for decommissioning of that facility. In 2015, a new decommissioning study for Four Corners was implemented reflecting updated cash flow estimates. The new study resulted in an increase of $1.0 million to the ARO. In addition, a new decommissioning study for SJGS was implemented in 2015, resulting in a $1.2 million decrease to the ARO.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Overview There are various claims and lawsuits pending against the Company. The Company also is subject to federal, state, and local environmental laws and regulations and periodically participates in the investigation and remediation of various sites. In addition, the Company periodically enters into financial commitments in connection with its business operations. Also, the Company is involved in various legal and regulatory (Note 17) proceedings in the normal course of its business. It is not possible at this time for the Company to determine fully the effect of all litigation and other legal and regulatory proceedings on its financial position, results of operations, or cash flows. With respect to some of the items listed below, the Company has determined that a loss is not probable or that, to the extent probable, cannot be reasonably estimated. In some cases, the Company is not able to predict with any degree of certainty the range of possible loss that could be incurred. Nevertheless, the Company assesses legal and regulatory matters based on current information and makes judgments concerning their potential outcome, giving due consideration to the nature of the claim, the amount and nature of any damages sought, and the probability of success. Such judgments are made with the understanding that the outcome of any litigation, investigation, and other legal proceeding is inherently uncertain. In accordance with GAAP, the Company records liabilities for matters where it is probable a loss has been incurred and the amount of loss is reasonably estimable. The actual outcomes of the items listed below could ultimately differ from the judgments made and the differences could be material. The Company cannot make any assurances that the amount of reserves or potential insurance coverage will be sufficient to cover the cash obligations that might be incurred as a result of litigation or regulatory proceedings. Except as otherwise disclosed, the Company does not expect that any known lawsuits, environmental costs, and commitments will have a material effect on its financial condition, results of operations, or cash flows. Commitments and Contingencies Related to the Environment PVNGS Decommissioning Funding PNM has a program for funding its share of decommissioning costs for PVNGS, including portions held under leases. The nuclear decommissioning funding program is invested in equities and fixed income instruments in qualified and non-qualified trusts. PNM funded $4.9 million in each of the years ended December 31, 2015, 2014, and 2013 into the qualified and non-qualified trust funds. The market value of the trusts at December 31, 2015 and 2014 was $249.1 million and $244.6 million . Nuclear Spent Fuel and Waste Disposal Nuclear power plant operators are required to enter into spent fuel disposal contracts with the DOE that require the DOE to accept and dispose of all spent nuclear fuel and other high-level radioactive wastes generated by domestic power reactors. Although the Nuclear Waste Policy Act required the DOE to develop a permanent repository for the storage and disposal of spent nuclear fuel by 1998, the DOE announced that it would not be able to open the repository by 1998 and sought to excuse its performance of these requirements. In November 1997, the D.C. Circuit issued a decision preventing the DOE from excusing its own delay, but refused to order the DOE to begin accepting spent nuclear fuel. Based on this decision and the DOE’s delay, a number of utilities, including APS (on behalf of itself and the other PVNGS owners, including PNM), filed damages actions against the DOE in the Court of Federal Claims. The lawsuits filed by APS alleged that damages were incurred due to DOE’s continuing failure to remove spent nuclear fuel and high level waste from PVNGS. APS and DOE entered into a settlement agreement, which establishes a process for the payment of claims for costs incurred through December 31, 2016. Under the settlement agreement, APS must submit claims annually for payment of allowable costs. PNM’s share of settlements under this process were $5.9 million , substantially all of which was credited back to PNM’s customers, for costs incurred from January 2007 through June 2011, which was recorded in the fourth quarter of 2014, and $4.3 million , including $3.1 million credited back to PNM’s customers, for costs incurred from July 2011 through June 2014, which was recorded in the first quarter of 2015. In the second quarter of 2015, PNM recorded claims of $1.3 million , including $0.5 million credited back to PNM’s customers, for costs incurred between July 1, 2014 and June 30, 2015. Thereafter, PNM began recording estimated claims quarterly. The settlement agreement terminates upon payment of costs incurred through December 31, 2016, unless extended by mutual written agreement. PNM estimates that it will incur approximately $58.0 million (in 2013 dollars) for its share of the costs related to the on-site interim storage of spent nuclear fuel at PVNGS during the term of the operating licenses. PNM accrues these costs as a component of fuel expense as the fuel is consumed. At December 31, 2015 and 2014, PNM had a liability for interim storage costs of $12.2 million and $12.3 million included in other deferred credits. On June 8, 2012, the D.C. Circuit issued its decision on a challenge by several states and environmental groups of the NRC’s rulemaking regarding temporary storage and permanent disposal of high level nuclear waste and spent nuclear fuel. The petitioners had challenged the NRC’s 2010 update to the agency’s Waste Confidence Decision and temporary storage rule (the “Waste Confidence Decision”). The D.C. Circuit found that the Waste Confidence Decision update constituted a major federal action, which, consistent with NEPA, requires either an environmental impact statement or a finding of no significant impact from the NRC’s actions. The D.C. Circuit found that the NRC’s evaluation of the environmental risks from spent nuclear fuel was deficient, and therefore remanded the Waste Confidence Decision update for further action consistent with NEPA. On September 6, 2012, the NRC commissioners issued a directive to the NRC staff to proceed with development of a generic EIS to support an updated Waste Confidence Decision. In September 2013, the NRC issued its draft generic EIS to support an updated Waste Confidence Decision. On August 26, 2014, the NRC approved a final rule on the environmental effects of continued storage of spent nuclear fuel. The continued storage rule adopted the findings of the generic EIS regarding the environmental impacts of storing spent fuel at any reactor site after the reactor’s licensed period of operations. As a result, those generic impacts do not need to be re-analyzed in the environmental reviews for individual licenses. Although PVNGS had not been involved in any licensing actions affected by the D.C. Circuit’s June 8, 2012 decision, the NRC lifted its suspension on final licensing actions on all nuclear power plant licenses and renewals that went into effect when the D.C. Circuit issued its June 2012 decision. The August 2014 final rule has been subject to continuing legal challenges before the NRC and the United States Court of Appeals. PNM is unable to predict the outcome of this matter. PVNGS has sufficient capacity at its on-site ISFSI to store all of the nuclear fuel that will be irradiated during the initial operating license period, which ends in December 2027. Additionally, PVNGS has sufficient capacity at its on-site ISFSI to store a portion of the fuel that will be irradiated during the period of extended operation, which ends in November 2047. If uncertainties regarding the United States government’s obligation to accept and store spent fuel are not favorably resolved, APS will evaluate alternative storage solutions that may obviate the need to expand the ISFSI to accommodate all of the fuel that will be irradiated during the period of extended operation. In 2011, the National Association of Regulatory Utility Commissioners and the Nuclear Energy Institute challenged DOE’s 2010 determination of the adequacy of the one tenth of a cent per KWh fee (the “one-mill fee”) paid by the nation’s commercial nuclear power plant owners pursuant to their individual contracts with the DOE. In June 2012, the D.C. Circuit held that DOE failed to conduct a sufficient fee analysis in making the 2010 determination. The D.C. Circuit remanded the 2010 determination to the DOE with instructions to conduct a new fee adequacy determination within six months. In February 2013, upon completion of DOE’s revised one-mill fee adequacy determination, the court reopened the proceedings. On November 19, 2013, the D.C. Circuit ordered the DOE to notify Congress of DOE’s intention to suspend collecting annual fees for nuclear waste disposal from nuclear power plant operators. On January 3, 2014, the DOE notified Congress of its intention to suspend collection of the one-mill fee, subject to Congress’ disapproval. On May 16, 2014, the DOE adjusted the fee to zero . PNM anticipates challenges to this action and is unable to predict its ultimate outcome. The Clean Air Act Regional Haze In 1999, EPA developed a regional haze program and regional haze rules under the CAA. The rule directs each of the 50 states to address regional haze. Pursuant to the CAA, states have the primary role to regulate visibility requirements by promulgating SIPs. States are required to establish goals for improving visibility in national parks and wilderness areas (also known as Class I areas) and to develop long-term strategies for reducing emissions of air pollutants that cause visibility impairment in their own states and for preventing degradation in other states. States must establish a series of interim goals to ensure continued progress. The first planning period specifies setting reasonable progress goals for improving visibility in Class I areas by the year 2018. In July 2005, EPA promulgated its final regional haze rule guidelines for states to conduct BART determinations for certain covered facilities, including utility boilers, built between 1962 and 1977 that have the potential to emit more than 250 tons per year of visibility impairing pollution. If it is demonstrated that the emissions from these sources cause or contribute to visibility impairment in any Class I area, then BART must be installed by 2018. SJGS BART Determination Process – SJGS is a source that is subject to the statutory obligations of the CAA to reduce visibility impacts. The State of New Mexico submitted its SIP on the regional haze and interstate transport elements of the visibility rules for review by EPA in June 2011. The SIP ruled that BART required to reduce NOx emissions from SJGS was selective non-catalytic reduction technology (“SNCR”). Nevertheless, in August 2011, EPA published its FIP, stating that it was required to do so by virtue of a consent decree it had entered into with an environmental group in litigation concerning the interstate transport requirements of the CAA. The FIP included a regional haze BART determination for SJGS that required installation of selective catalytic reduction technology (“SCR”) on all four units by September 21, 2016. During 2012 and early 2013, PNM, as the operating agent for SJGS, engaged in discussions with NMED and EPA regarding an alternative to the FIP and SIP. PNM, NMED, and EPA agreed on February 15, 2013 to pursue a revised BART path to comply with federal visibility rules at SJGS. The terms of the non-binding agreement would result in the retirement of SJGS Units 2 and 3 by the end of 2017 and the installation of SNCRs on Units 1 and 4 by the later of January 31, 2016 or 15 months after EPA approval of a revised SIP. In accordance with the revised plan, PNM submitted a new BART analysis to NMED on April 1, 2013 and NMED developed a RSIP, both of which reflect the terms of the non-binding agreement. The EIB approved the RSIP in September 2013. EPA’s final rules approving the RSIP and withdrawing the FIP became effective on November 10, 2014. In addition to the SNCR equipment required by the RSIP, the NSR permit, which was required to be obtained in order to install the SNCRs, specified that SJGS Units 1 and 4 be converted to balanced draft technology (“BDT”). The requirement to install BDT was made binding and enforceable in the NSR permit issued by NMED that accompanied the RSIP submitted to the EPA. EPA’s rule approving the RSIP specifically references the NSR permit by including a condition that requires “modification of the fan systems on Units 1 and 4 to achieve ‘balanced’ draft configuration ….” Implementation Activities – Due to the compliance deadline set forth in the FIP, PNM entered into a contract for installation of SCRs on SJGS in October 2012. At that time, PNM estimated the total cost to install SCRs on all four units of SJGS to be between approximately $824 million and $910 million , including BDT equipment to assist with compliance with the NAAQS requirements and to eliminate all fugitive boiler emissions. The construction contract was terminated in December 2014 following approval of the RSIP by EPA. PNM had previously indicated it estimated the cost of SNCRs on all four units of SJGS to be between approximately $85 million and $90 million based on a conceptual design study. Along with the SNCR installation, additional BDT equipment would be required to be installed, the cost of which had been estimated to total between approximately $105 million and $110 million for all four units of SJGS. Based upon its current SJGS ownership interest, PNM’s share of the costs described above would have been about 46.3% . Following the February 2013 development of the alternative BART compliance plan, PNM began taking steps to prepare for the potential installation of SNCR and BDT equipment on Units 1 and 4 and entered into contracts for the equipment and installation of SNCRs, including BDT equipment, on SJGS Units 1 and 4. Installation of SNCRs on Unit 1 and BDT equipment on both Units 1 and 4 was completed in 2015 and installation of SNCRs on Unit 4 was completed in January 2016, which dates were within the timeframe contained in the RSIP. PNM’s share of the total costs for SNCRs and BDT equipment was $78.0 million . Although operating costs will be reduced due to the retirement of SJGS Units 2 and 3, the operating costs for SJGS Units 1 and 4 will increase with the installation of SNCR and BDT equipment. NMPRC Filing – On December 20, 2013, PNM made a filing with the NMPRC requesting certain approvals necessary to effectuate the RSIP. In this filing, PNM requested: • Permission to retire SJGS Units 2 and 3 at December 31, 2017 and to recover over 20 years their net book value at that date along with a regulated return on those costs • A CCN to include PNM’s ownership of PVNGS Unit 3, amounting to 134 MW, as a resource to serve New Mexico retail customers at a proposed value of $2,500 per KW, effective January 1, 2018 • An order allowing cost recovery for PNM’s share of the installation of SNCR and BDT equipment to comply with NAAQS requirements on SJGS Units 1 and 4, not to exceed a total cost of $82 million PNM’s filing also addressed replacement of the capacity from the shutdown of SJGS Units 2 and 3, which, as proposed, would have reduced PNM’s ownership in SJGS by 340 MW, including possible increase in PNM’s ownership in SJGS Unit 4, the identification of a new 177 MW natural gas-fired generation source, and 40 MW of new utility-scale solar PV. PNM received approval to construct the 40 MW of solar PV facilities in its 2015 Renewable Energy Plan. See Note 17. PNM’s requests in the December 20, 2013 NMPRC filing were based on the status of the negotiations among the SJGS owners at that time regarding ownership restructuring and other matters (see SJGS Ownership Restructuring Matters below). In July 2014, PNM filed a notice with the NMPRC regarding the status of the negotiations among the SJGS participants, including that the SJGS participants reached non-binding agreements in principle on the ownership restructuring of SJGS. On October 1, 2014, PNM and certain intervenors filed a stipulation with the NMPRC that, if approved by the NMPRC, would have settled all matters in PNM’s filing. Statements of opposition were filed by other intervenors. A public hearing in the NMPRC case was held in January 2015. On April 8, 2015, the Hearing Examiner in the case issued a Certification of Stipulation, which recommended the NMPRC reject the stipulation as proposed. The certification recommended approvals of certain provisions in the stipulation, as well as modifications or rejections of other provisions. Among other things, the certification cited the lack of final restructuring and post-2017 coal supply agreements for SJGS. On May 27, 2015, the NMPRC issued an order requiring PNM to file executed restructuring and coal supply agreements by July 1, 2015, which date was subsequently extended to August 1, 2015. On July 1, 2015, PNM filed executed coal supply and related agreements, described under Coal Supply below, with the NMPRC. On July 31, 2015, PNM filed executed restructuring agreements. In June 2015, a NMPRC Commissioner issued an order designating a facilitator to determine whether an uncontested settlement among some or all of the parties in this case could be accomplished. On August 13, 2015, as a result of the facilitation process, PNM, the staff of the NMPRC, the NMAG, Western Resource Advocates, and the Coalition for Clean Affordable Energy filed a settlement agreement with the NMPRC. NMIEC, Interwest Energy Alliance, and New Mexico Independent Power Producers subsequently joined in this agreement and NEE filed in opposition to the agreement. The stipulating parties agreed that the October 2014 stipulation should be approved, as modified by the settlement agreement (collectively, the “Stipulated Settlement”). Under the terms of the Stipulated Settlement: • PNM will retire SJGS Units 2 and 3 (PNM’s current ownership interest totals 418 MW) at December 31, 2017 and recover, over 20 years, 50% of their undepreciated net book value at that date and earn a regulated return on those costs • PNM will be granted an unconditional CCN for 132 MW in SJGS Unit 4, with an initial book value of zero , plus the costs of SNCR and other capital additions • PNM will be granted a CCN for 134 MW of PVNGS Unit 3 with an initial rate base value equal to the book value as of December 31, 2017, including transmission assets associated with PVNGS Unit 3, (estimated to be approximately $150 million ) • No later than December 31, 2018, and before entering into a binding agreement for post-2022 coal supply for SJGS, PNM will file its position and supporting testimony in an NMPRC case to determine the extent to which SJGS should continue serving PNM’s retail customers’ needs after mid-2022; all parties agree to support this case being decided within six months • PNM will be authorized to acquire 65 MW of SJGS Unit 4 as excluded utility plant; PNM and PNMR commit that no further coal-fired merchant plant will be acquired at any time by PNM, PNMR, or any PNM affiliate; PNM is not precluded from seeking a CCN to include the 65 MW or other coal capacity in rate base • Beginning January 1, 2020, for every MWh produced by 197 MW of coal-fired generation from PNM’s ownership share of SJGS, PNM will acquire and retire one MWh of RECs or allowances that include a zero-CO 2 emission attribute compliant with EPA’s Clean Power Plan; this REC retirement is in addition to what is required to meet the RPS; the cost of these RECs are to be capped at $7.0 million per year and will be recovered in rates; PNM should purchase EPA-compliant RECs from New Mexico renewable generation unless those RECs are more costly • PNM will accelerate recovery of SNCR costs on SJGS Units 1 and 4 so that the costs are fully recovered by July 1, 2022; cost recovery for PNM’s BDT project on those units will be determined in PNM’s next general rate case consistent with the Certification of Stipulation • Not recover approximately $20 million of other costs incurred in connection with CAA compliance • PNM’s 2014 IRP docket will be closed without other NMPRC action The Hearing Examiner scheduled a hearing on PNM’s application concerning BART for SJGS to begin on October 13, 2015. NEE previously filed motions before the NMPRC requesting that four of the five NMPRC commissioners recuse themselves, alleging they had improper ex-parte communications, were biased, and had pre-judged the outcome of the BART case. Each of the four commissioners declined to recuse themselves. On October 5, 2015, NEE filed a Petition for a Writ of Mandamus and Request for Stay in the NMSC requesting the four commissioners be recused from this case and that PNM’s application be dismissed. On October 9, 2015, the NMSC issued orders that allowed the hearing conducted by the Hearing Examiner to proceed, but ordered that any action by the NMPRC be stayed, pending a decision by the NMSC on NEE’s petition. The hearing on the Stipulated Settlement was held from October 13, 2015 through October 20, 2015. Oral argument on NEE’s petition was held before the NMSC on November 9, 2015. On November 9, 2015, the NMSC denied NEE’s petition. On November 16, 2015, the Hearing Examiner issued a Certification of Stipulation, essentially adopting the Stipulated Settlement. On December 16, 2015, following oral argument, the NMPRC issued a final order adopting the Certification of Stipulation issued by the Hearing Examiner. The Hearing Examiner’s certification included a non-substantive change to the Stipulated Settlement that required the signatories to the Stipulated Settlement to file their agreement to the change. On December 22, 2015, PNM filed the Signatories’ Notice of Agreement and Acceptance Regarding Modified Stipulation as Further Modified by Final Order. At December 31, 2015, PNM’s carrying value for its current ownership share of SJGS Units 2 and 3 included plant in service of $468.2 million , accumulated depreciation and amortization of $193.3 million , and construction work in progress of $2.2 million for a net undepreciated net book value of $277.1 million . PNM estimates the undepreciated net book value of SJGS Units 2 and 3 at December 31, 2017 will be approximately $255.3 million , 50% of which would be recovered over a 20 year period, including a return on the unrecovered amount at PNM’s WACC. At December 31, 2015, PNM recorded a $127.6 million regulatory disallowance to reflect the write-off of the 50% of the estimated December 31, 2017 net book value that will not be recovered. The ultimate amount of the disallowance will be equal to the actual December 31, 2017 undepreciated net book values of SJGS Units 2 and 3. Accordingly, the amount initially recorded will be adjusted periodically to reflect changes in the projected December 31, 2017 net book values. A regulatory disallowance of $21.6 million was also recorded at December 31, 2015 for other unrecoverable costs based on the approved Stipulated Settlement. The new coal mine reclamation arrangement entered into in conjunction with the new coal supply agreement (“CSA”), described under Coal Supply below, resulted in a $16.5 million increase in the liability recorded for coal mine reclamation. The expense recorded for this increase and the above disallowances, aggregating $165.7 million , is included in regulatory disallowances and restructuring costs on the Consolidated Statements of Earnings (Loss). In addition, the shutdown of SJGS Units 2 and 3 will result in the reversal of certain deferred income tax items. The estimated impact of these tax items resulted in an expense of $1.8 million being recorded at December 31, 2015, which amount in included in income tax expense. On January 14, 2016, NEE filed, with the NMSC, a Notice of Appeal of the NMPRC’s December 16, 2016 final order. In addition, on February 5, 2016, NEE filed, with the NMPRC, a motion for reconsideration of that final order based on recent developments related to the loan made by NM Capital to facilitate the sale of SJCC, which is described under Coal Supply below. NEE alleges the loan is a transaction that, under the New Mexico Public Utility Act, requires prior NMPRC approval. PNM filed its response to NEE’s motion for reconsideration on February 18, 2016. SJGS Ownership Restructuring Matters – Currently, SJGS is jointly owned by PNM and eight other entities, including three participants that operate in the State of California. Furthermore, each participant does not have the same ownership interest in each unit. The SJPPA that governs the operation of SJGS expires on July 1, 2022. In connection with the requirement for SJGS to comply with the CAA, the California participants indicated that, under California law, they may be prohibited from making significant capital improvements to SJGS and expressed the intent to exit their ownership in SJGS no later than July 1, 2022. One other participant also expressed a similar intent to exit ownership in the plant. The exiting participants currently own 50.0% of SJGS Unit 3 and 38.8% of SJGS Unit 4, but none of SJGS Units 1 and 2. PNM currently owns 50.0% of SJGS Units 1, 2, and 3 and 38.5% of SJGS Unit 4. The SJGS participants engaged in mediated negotiations concerning the implementation of the RSIP to address BART at SJGS. Along with shifts in ownership among participants, the discussions among the SJGS participants regarding restructuring included, among other matters, the treatment of plant decommissioning obligations, mine reclamation obligations, environmental matters, and certain ongoing operating costs. In June 2014, the SJGS participants reached a non-binding agreement that identified the participants who would be exiting active participation in SJGS effective December 31, 2017 and participants, including PNM, who would retain an interest in the ongoing operation of one or more units of SJGS. The agreement provided the essential terms of restructured ownership of SJGS between the exiting participants and the remaining participants and addresses other related matters, indicating that the exiting participants would remain obligated for their proportionate shares of environmental, mine reclamation, and certain other legacy liabilities that are attributable to activities that occurred prior to their exit. Also, in June 2014, a non-binding term sheet was approved by all of the remaining participants that provided the essential terms of restructured ownership of SJGS among the remaining participants. As part of the non-binding terms, PNM stated that it would acquire an additional 132 MW in SJGS Unit 4 effective December 31, 2017. There would be no initial cost for PNM to acquire the additional 132 MW although PNM’s share of capital improvements, including the costs of installing SNCR and BDT equipment, and operating expenses would increase to reflect the increased ownership percentage. The acquisition of 132 MW of SJGS Unit 4 would result in PNM’s ownership share of SJGS Unit 4 being 64.5% and an aggregate of 58.7% in SJGS Units 1 and 4. These non-binding arrangements recognized that, prior to executing a binding restructuring agreement, the remaining participants would need to have greater certainty in regard to the economic cost and availability of fuel for SJGS for the period after December 31, 2017. As discussed under Coal Supply below, on July 1, 2015, PNM entered into an agreement for the supply of coal to SJGS through June 30, 2022. In September 2014, the SJGS participants executed a binding Fuel and Capital Funding Agreement to implement certain provisions of the June 2014 arrangements, including payment by the remaining participants of capital costs for the Unit 4 SNCR project starting July 1, 2014. On January 7, 2015, Farmington, which has an ownership interest in SJGS Unit 4, notified the other participants that it would not acquire the additional MWs in Unit 4 contemplated in the June 2014 agreement, leaving 65 MWs in that unit unsubscribed. Farmington’s action resulted in the termination of the Fuel and Capital Funding Agreement. On May 19, 2015, PNMR, PNM, PNMR Development, and the California owners of SJGS Unit 4 entered into the Capacity Option and Funding Agreement (“COFA”) that provided PNM and PNMR Development options to acquire 132 MW and 65 MW of the Unit 4 capacity currently owned by the California entities in exchange for PNM and PNMR Development funding the capital improvements related to Unit 4 effective as of January 1, 2015. The COFA terminated as of the effective date of the SJGS restructuring agreement, which occurred on January 31, 2016 as discussed below. As indicated under NMPRC Filing above, PNM filed the executed San Juan Project Restructuring Agreement (“RA”) with the NMPRC on July 31, 2015. The RA sets forth the agreement among the SJGS owners regarding ownership restructuring and contains many of the provisions of the June 2014 arrangements. PNMR Development became a party to the RA and will acquire an ownership interest in SJGS Unit 4 when the California owners exit, which is anticipated to be December 31, 2017, but has obligations related to Unit 4 before then. On the exit date, PNM and PNMR Development would acquire 132 MW and 65 MW of the capacity in SJGS Unit 4 from the California owners, as contemplated by the COFA. As discussed under NMPRC Filing above, the Stipulated Settlement would allow PNM to acquire the 65 MW, which the RA contemplates will be acquired by PNMR Development. PNMR currently anticipates that PNMR Development would transfer the rights and obligations related to the 65 MW to PNM prior to December 31, 2017 in order to facilitate dispatch of power from that capacity. The RA became effective contemporaneously with the effectiveness of the new CSA. The effectiveness of the new CSA was dependent on the closing of the purchase of the existing coal mine operation by a new mine operator, which as discussed in Coal Supply below occurred at 11:59 PM on January 31, 2016. The RA sets forth the terms under which PNM will acquire the coal inventory of the exiting SJGS participants as of January 1, 2016 and will supply coal to the exiting participants for the period from January 1, 2016 through December 31, 2017, which arrangement PNM believes will provide economic benefits that will be passed on to PNM’s customers through the FPPAC. The RA also includes provisions whereby the exiting owners will make payments to certain of the remaining participants, not including PNM, related to the restructuring. PNMR Development’s share of the restructuring fee was recorded at December 31, 2015 and the $3.1 million impact is included in other income on the Consolidated Statements of Earnings. On September 25, 2015, PNM made an application at FERC seeking certain approvals necessary for implementation of the restructured SJGS participation agreements. FERC approved the application on December 30, 2015. Other SJGS Matters – The SJPPA requires PNM, as operating agent, to obtain approval of capital improvement project expenditures from participants who have an ownership interest in the relevant unit or property common to more than one unit. As provided in the SJPPA, specified percentages of both the outstanding participant shares, based on MW ownership, and the number of participants in the unit or common property must be obtained in order for a capital improvement project to be approved. PNM presented the SNCR project, including BDT equipment, to the SJGS participants in Unit 1 and Unit 4 for approval in October 2013. The project was approved for Unit 1, but the Unit 4 project, which includes some of the California participants, did not obtain the required percentage of votes for approval. PNM subsequently submitted several requests to the owners of Unit 4 requesting approval of certain expenditures critical to comply with the time frame in the RSIP, as well as requests to approve the total forecasted project expenses. The required majority of Unit 4 owners did not approve these requests. PNM, in its capacity as operating agent of SJGS, is authorized and obligated under the SJPPA to take reasonable and prudent actions necessary for the successful and proper operation of SJGS pending the resolution, by arbitration or otherwise, of any inability or failure to agree by the participants. PNM must evaluate its responsibilities and obligations as operating agent under

Regulatory and Rate Matters

Regulatory and Rate Matters	12 Months Ended
	Dec. 31, 2015
Regulated Operations [Abstract]
Regulatory and Rate Matters	Regulatory and Rate Matters The Company is involved in various regulatory matters, some of which contain contingencies that are subject to the same uncertainties as those described in Note 16. PNM New Mexico General Rate Case On December 11, 2014, PNM filed an application for revision of electric retail rates based upon a calendar year 2016 future test year (“FTY”) period. The application proposed a revenue increase of $107.4 million , effective January 1, 2016. Several parties filed briefs, which alleged that PNM’s application was incomplete and challenged the distributed generation charge, as well as other aspects of PNM’s filing. On April 17, 2015, the Hearing Examiner in the case issued an Initial Recommended Decision to the NMPRC recommending that the NMPRC find PNM’s application incomplete and reject it on the grounds that it does not comply with the FTY rule. The Hearing Examiner cited procedural defects in the filing, including a lack of fully functional electronic files and appropriate justification of certain costs in the future test year period. PNM filed exceptions arguing that PNM substantively met the filing requirements of the applicable New Mexico Statutes and NMPRC Rules, the Initial Recommended Decision established an unreasonable standard for FTY filing requirements, and the recommendations placing limits on the timing of the test period relative to the base period effectively nullified the FTY statute. On May 13, 2015, the NMPRC voted to accept the Initial Recommended Decision regarding the completeness of PNM’s application and dismissed PNM’s application. On August 27, 2015, PNM filed a new application with the NMPRC for a general increase in retail electric rates. The application proposes a revenue increase, including base fuel revenues, of $123.5 million . PNM’s new application is based on a FTY period beginning October 1, 2015, which meets the NMPRC’s May 2015 interpretation of the FTY statute discussed below. The proposed ROE is 10.5% . Similar to the 2014 filing, the primary drivers of PNM’s identified revenue deficiency are infrastructure investments and the recovery of those investment dollars, including depreciation based on an updated depreciation study, and declines in forecasted energy sales as a result of PNM’s successful energy efficiency programs and other economic factors. The new application includes several proposed changes to rate design to establish fair and equitable pricing across rate classes and to better align cost recovery with cost causation. Specific rate design proposals include increased customer and demand charges, a revenue decoupling pilot program applicable to residential and small power customers, a re-allocation of revenue among PNM’s customer classes, a new economic development rate, and continuation of PNM’s renewable energy rider. PNM requested that the proposed new rates become effective beginning in July 2016. The NMPRC’s designated Hearing Examiner has established a procedural schedule that anticipates a public hearing on the proposed new rates will begin on March 14, 2016. PNM is unable to predict the outcome of this matter. Proceeding Regarding Definition of Future Test Year On May 27, 2015, the NMPRC approved an order that defines a FTY as a period that begins no later than 45 days following the filing of an application to increase rates. PNM disagreed with the interpretation adopted by the NMPRC and believes that the correct interpretation of the New Mexico FTY statute allows a FTY to begin up to 13 months after the filing of an application. On June 25, 2015, PNM filed a Notice of Appeal to the NMSC, challenging the NMPRC’s June 3, 2015 written order. On July 31, 2015, PNM and the NMPRC filed a joint motion for a temporary 30 -day stay and remand of PNM’s appeal so that the NMPRC could reconsider its FTY order in PNM’s 2014 rate case. The NMSC remanded this matter back to the NMPRC. On November 30, 2015, the NMPRC modified its previous order to provide for a FTY to begin up to 13 months after the filing of a rate case application. On December 9, 2015, the NMPRC filed its revised order with the NMSC. On January 20, 2016, PNM and the NMPRC filed an unopposed stipulation of voluntary dismissal of the appeal and the NMSC dismissed the appeal on February 15, 2016. Renewable Portfolio Standard The REA establishes a mandatory RPS requiring a utility to acquire a renewable energy portfolio equal to 10% of retail electric sales by 2011, 15% by 2015, and 20% by 2020. PNM files annual renewable energy procurement plans for approval by the NMPRC. The NMPRC requires renewable energy portfolios to be “fully diversified.” The current diversity requirements, which are subject to the limitation of the RCT, are 30% wind, 20% solar, 3% distributed generation, and 5% other. The REA provides for streamlined proceedings for approval of utilities’ renewable energy procurement plans, assures that utilities recover costs incurred consistent with approved procurement plans, and requires the NMPRC to establish a RCT for the procurement of renewable resources to prevent excessive costs being added to rates. Currently, the RCT is set at 3% of customers’ annual electric charges. PNM makes renewable procurements consistent with the NMPRC approved plans. PNM recovers certain renewable procurement costs from customers through a rate rider. See Renewable Energy Rider below. Included in PNM’s approved procurement plans are the following renewable energy resources: • 2013 plan – Construction of 20 MW of PNM-owned solar PV facilities, at a cost of $48.9 million ; wind and solar REC purchases in 2013; a PPA for the output of the Lightning Dock Geothermal facility; and an additional procurement of 1.5 MW of PNM-owned solar PV facilities to supply the energy sold under PNM’s voluntary renewable energy tariff. The plan enabled PNM to comply with the statutory RPS in 2013, but required a variance from the NMPRC’s diversity requirements in 2013 while the proposed geothermal facilities were being constructed. The geothermal facility began providing power to PNM in January 2014. The current output of the facility is 4 MW and future expansion may result in up to 9 MW of generation capacity. • 2014 plan – 50,000 MWh of wind generated RECs in 2014; construction of 23 MW of PNM-owned solar PV facilities at a cost of $46.5 million ; a 20 -year PPA for the output of Red Mesa Wind, an existing wind generator having an aggregate capacity of 102 MW, beginning January 1, 2015 at a first year cost estimated to be $5.8 million ; and the purchase of 120,000 MWh of wind RECs in 2015. • 2015 plan – Construction of 40 MW of PNM-owned solar PV facilities at a cost of $79.3 million . The proposed 40 MW solar facilities are identified as being a cost-effective resource in PNM’s application to retire SJGS Units 2 and 3 (Note 16). Under a stipulated settlement, the costs of the 40 MW of solar would be recovered in base rates rather than through PNM’s renewable energy rider and have been included in rates requested in the New Mexico General Rate Case discussed above. PNM filed its 2016 renewable energy procurement plan on June 1, 2015. The plan meets RPS and diversity requirements within the RCT in 2016 and 2017. The plan does not propose any significant new procurements. The NMPRC approved the plan in November 2015, but subsequently vacated the order in response to a rehearing motion regarding the rate treatment of certain non-residential customers eligible for a cap on RPS procurement costs and certain governmental customers exempt from RPS procurement costs. On rehearing, the NMPRC approved the plan in an order issued on February 3, 2016. In this order, the NMPRC deferred the issue related to capped and exempt customers to a new case related to the calculation of PNM’s FPPAC, as discussed in FPPAC Continuation Application below. Renewable Energy Rider The NMPRC has authorized PNM to recover certain renewable procurement costs through a rate rider billed on a per KWh basis. The rider will terminate upon a final order in PNM’s pending electric rate case unless the NMPRC authorizes PNM to continue it. As a separate component of the rider, if PNM’s earned return on jurisdictional equity in a calendar year, adjusted for weather and other items not representative of normal operations, exceeds 10.5% , PNM would be required to refund the amount over 10.5% to customers during May through December of the following year. PNM made timely filings with the NMPRC demonstrating that it had not exceeded the 10.5% return for 2014 and 2013. Preliminary calculations indicate PNM’s jurisdictional equity return did not exceed 10.5% in 2015. PNM recorded revenues from the rider of $41.9 million , $31.9 million , and $21.7 million in 2015, 2014, and 2013. In its 2016 renewable energy procurement plan case, PNM proposed to collect $42.4 million in 2016. The 2016 rider adjustment was approved as part of the final order issued February 3, 2016 on the 2016 renewable energy plan. Energy Efficiency and Load Management Program Costs Public utilities are required by the Efficient Use of Energy Act to achieve specified levels of energy savings and to obtain NMPRC approval to implement energy efficiency and load management programs. In 2013, this act was amended to set an annual program budget equal to 3% of an electric utility’s annual revenue. PNM’s costs to implement approved programs are recovered through a rate rider. In October 2012, PNM filed an energy efficiency program application for programs proposed to be offered beginning in May 2013. The filing included proposed program costs of $22.5 million plus a proposed profit incentive. The NMPRC approved PNM’s program application, including the annual profit incentive discussed below, on November 6, 2013. On October 6, 2014, PNM filed an energy efficiency program application for programs proposed to be offered beginning in June 2015. The filing included proposed program costs of $25.8 million plus a proposed profit incentive. The proposed energy efficiency budget and plan are consistent with the 2013 amendments to the Efficient Use of Energy Act. PNM and the NMPRC staff filed a stipulated settlement on January 30, 2015. After a public hearing, the NMPRC approved the settlement on April 29, 2015. The approval established program budgets and the incentive amounts discussed below. Disincentives/Incentives The Efficient Use of Energy Act requires the NMPRC to remove utility disincentives to implementing energy efficiency and load management programs and to provide incentives for such programs. The NMPRC has adopted a rule to implement this act. In November 2013, the NMPRC issued an order authorizing PNM to recover an incentive equal to 7.6% of annual program costs beginning with program implementation in December 2013. Based on PNM’s approved program costs, this amounted to an annual incentive of $1.7 million . In PNM’s 2014 energy efficiency program application, PNM proposed an energy efficiency incentive of $2.1 million . PNM’s proposed incentive was based upon a shared benefits methodology and is similar in amount to previous PNM incentives authorized by the NMPRC. Under the terms of the January 30, 2015 stipulation discussed above, the incentive amount would be $1.7 million in 2015 and $1.8 million in 2016 assuming threshold level of savings are achieved. Energy Efficiency Rulemaking On May 17, 2012, the NMPRC issued a NOPR that would have amended the NMPRC’s energy efficiency rule to authorize use of a decoupling mechanism to recover certain fixed costs of providing retail electric service as the mechanism for removal of disincentives associated with the implementation of energy efficiency programs. The proposed rule also addressed incentives associated with energy efficiency. On July 26, 2012, the NMPRC closed the proposed rulemaking and opened a new energy efficiency rulemaking docket that may address decoupling and incentives. Workshops to develop a proposed rule have been held, but no order proposing a rule has been issued. PNM is unable to predict the outcome of this matter. On October 2, 2013, the NMPRC issued a NOPR and a proposed rule to implement amendments to the New Mexico Efficient Use of Energy Act. The NMPRC issued an order on October 8, 2014 adopting the proposed rule, which includes a provision that limits incentive awards to an amount equal to the utility’s WACC times its approved annual program costs. FPPAC Continuation Application Pursuant to the rules of the NMPRC, public utilities are required to file an application to continue using their FPPAC every four years. On May 28, 2013, PNM filed the required continuation application and requested that its current FPPAC be modified to increase the reset frequency of the fuel factor from annually to quarterly, to allow PNM to retain 10% of its off-system sales margin, and to apply the same carrying charge rate to both over and under collections in the balancing account. On April 23, 2014, the NMPRC approved a stipulated agreement resolving this case. The settlement allows PNM to retain 10% of off-system sales margin from July 1, 2013 through December 31, 2016, resolves the ratemaking treatment for coal pre-treatment at SJGS until the next rate case, required PNM to write-off $10.5 million of the under-collected balance in its FPPAC balancing account, and required PNM to recover the remaining under-collected balance ( $63.5 million as of April 30, 2014) over 18 months beginning July 1, 2014. PNM recorded the $10.5 million write off as a regulatory disallowance in the fourth quarter of 2013. The NMPRC issued a show cause order on February 3, 2016 concerning the rate treatment of large and capped customers in respect to PNM’s RPS procurements to determine whether PNM miscalculated the FPPAC and base fuel costs due to its treatment of renewable energy costs. See the Renewable Portfolio Standard above. PNM cannot predict the outcome of this matter. Integrated Resource Plan NMPRC rules require that investor owned utilities file an IRP every three years. The IRP is required to cover a 20 -year planning period and contain an action plan covering the first four years of that period. PNM filed its 2014 IRP on July 1, 2014. The four-year action plan was consistent with the replacement resources identified in PNM’s application to retire SJGS Units 2 and 3. PNM indicated that it planned to meet its anticipated long-term load growth with a combination of additional renewable energy resources, energy efficiency, and natural gas-fired facilities. Consistent with statute and NMPRC rule, PNM incorporated a public advisory process into the development of its 2014 IRP. On July 31, 2014, several parties requested the NMPRC not to accept the 2014 IRP as compliant with NMPRC rule because to do so could affect the pending proceeding on PNM’s application to abandon SJGS Units 2 and 3 and for CCNs for certain replacement resources (Note 16) and because they assert that the IRP does not conform to the NMPRC’s IRP rule. Certain parties also asked that further proceedings on the IRP be held in abeyance until the conclusion of the pending abandonment/CCN proceeding. The NMPRC issued an order in August 2014 that docketed a case to determine whether the IRP complies with applicable NMPRC rules. The order also held the case in abeyance pending the issuance of final, non-appealable orders in PNM’s 2015 renewable energy procurement plan case and its application to retire SJGS Units 2 and 3. The final order regarding PNM’s application to abandon SJGS Units 2 and 3 described in Note 16 states that the NMPRC will issue a Notice of Proposed Dismissal in the 2014 IRP docket. Such notice has not yet been issued. San Juan Generating Station Units 2 and 3 Retirement On December 20, 2013, PNM filed an application at the NMPRC to retire SJGS Units 2 and 3 on December 31, 2017. On October 1, 2014, PNM and certain parties to the case filed a stipulation with the NMPRC proposing a settlement of this case. The Hearing Examiner issued a Certification of Stipulation on April 8, 2015 that recommended rejection of the agreement as proposed, and recommended several modifications to the agreement. On August 13, 2015, PNM and certain parties to the case filed an agreement that, subject to approval by the NMPRC, would modify the stipulation and settle all issues in the case. The NMPRC issued an order approving the modified stipulation on December 16, 2015. On January 14, 2016, NEE filed an appeal of the final order with the NMSC. On February 5, 2016, NEE filed a motion with the NMPRC for reconsideration of the final order based on developments subsequent to the date of the order (Note 16). PNM filed its response to that motion on February 18, 2016. Additional information concerning the NMPRC filing, including a summary of the terms of the modified stipulation, and related proceedings before the NMSC is set forth in Note 16. On September 25, 2015, PNM made an application at FERC seeking certain approvals necessary for implementation of the restructured SJGS participation agreements. FERC issued the requested approvals on December 30, 2015. Application for Certificate of Convenience and Necessity On June 30, 2015, PNM filed an application for a CCN for a 187 MW gas plant to be located at SJGS. This resource was identified as a replacement resource in PNM’s application to retire SJGS Units 2 and 3. PNM estimated the cost of the facility, which would be located at SJGS, to be $133.2 million . PNM identified the necessary in-service date to be in the first half of 2018. On July 9, 2015, a party to the SJGS Unit 2 and 3 retirement case filed a motion to consolidate this CCN case with the retirement case, which motion was subsequently withdrawn. PNM is re-evaluating the timing and resource requirements for installation of the natural gas-fired unit requested in the CCN proceeding, including the potential for a smaller unit, along with other possible power resources, taking into consideration PNM’s recently revised lower load forecast and the impacts of the NEC settlement, which is discussed below. On February 12, 2016, PNM filed a motion to withdraw its application and stated that it intends to file either a new application for a gas-fueled resource or a report on the status of the CCN application by April 22, 2016. PNM’s current construction expenditure forecast includes a 85 MW gas-fired unit with an estimated cost of $101.8 million . PNM cannot predict the outcome of this proceeding. Four Corners Right of First Refusal On February 17, 2015, PNM received notice from EPE that EPE has entered into an agreement to sell its 7% interest in Four Corners to APS, thereby triggering PNM’s ability to exercise its right of first refusal (“ROFR”) to acquire a portion of EPE’s interest in Four Corners. PNM notified the NMPRC about receipt of the notice and advised the NMPRC that PNM did not intend to exercise its rights under the ROFR. The ROFR expired unexercised 120 days after the date of EPE’s notice. Transmission Rate Case In October 2010, PNM filed a notice with FERC to increase its wholesale electric transmission revenues by $11.1 million annually, based on a return on equity of 12.25% . FERC accepted PNM’s filing and the proposed rates were implemented on June 1, 2011, subject to refund. The rate increase applied to all of PNM’s wholesale electric transmission service customers, which include other utilities, electric cooperatives, and entities that use PNM’s transmission system to transmit power at the wholesale level. The rate increase did not impact PNM’s retail customers. On January 2, 2013, FERC approved an unopposed settlement agreement, which increased transmission revenues by $2.9 million annually. In addition, the parties agreed that if PNM filed for a formula-based rate change within one year from FERC’s approval of the settlement agreement, no party would oppose the general principle of a formula rate, although the parties may still object to particular aspects of the formula. PNM refunded amounts collected in excess of the settled rates in January 2013, concluding this matter. Formula Transmission Rate Case On December 31, 2012, PNM filed an application with FERC for authorization to move from charging stated rates for wholesale electric transmission service to a formula rate mechanism pursuant to which rates for wholesale transmission service are calculated annually in accordance with an approved formula. The proposed formula includes updating cost of service components, including investment in plant and operating expenses, based on information contained in PNM’s annual financial report filed with FERC, as well as including projected large transmission capital projects to be placed into service in the following year. The projections included are subject to true-up in the following year formula rate. Certain items, including changes to return on equity and depreciation rates, require a separate filing to be made with FERC before being included in the formula rate. As filed, PNM’s request would have resulted in a $3.2 million wholesale electric transmission rate increase, based on PNM’s 2011 data and a 10.81% return on equity (“ROE”), and authority to adjust transmission rates annually based on an approved formula. The proposed $3.2 million rate increase would be in addition to the $2.9 million rate increase approved by the FERC on January 2, 2013. On March 1, 2013, FERC issued an order (1) accepting PNM’s revisions to its rates for filing and suspending the proposed revisions to become effective August 2, 2013, subject to refund; (2) directing PNM to submit a compliance filing to establish its ROE using the median, rather than the mid-point, of the ROEs from a proxy group of companies; (3) directing PNM to submit a compliance filing to remove from its rate proposal the acquisition adjustment related to PNM’s 60% ownership of the EIP transmission line, which was acquired in 2003; and (4) setting the proceeding for hearing and settlement judge procedures. PNM would be allowed to make a separate filing related to recovery of the EIP acquisition adjustment. On April 1, 2013, PNM made the required compliance filing. On August 2, 2013, new rates went into effect, subject to refund. In June 2013, May 2014, and March 2015, PNM made additional filings incorporating final 2012, 2013, and 2014 data into the formula rate request. On March 20, 2015, PNM along with five other parties entered into a settlement agreement, which was filed at FERC. The settlement reflects a ROE of 10% and results in an annual increase of $1.3 million above the rates approved in the previous rate case. Additionally, the parties filed a motion to implement the settled rates effective April 1, 2015. On March 25, 2015, the ALJ issued an order authorizing the interim implementation of settled rates beginning on April 1, 2015, subject to refund. In May 2015, the settlement judge recommended that FERC approve the settlement. There is no required time frame for FERC to act upon the settlement. Firm-Requirements Wholesale Customers Navopache Electric Cooperative, Inc. In September 2011, PNM filed an unexecuted amended PSA between PNM and NEC with FERC. NEC filed a protest to PNM’s filing with FERC. In November 2011, FERC issued an order accepting the filing to be effective April 14, 2012, subject to refund, and set the proceeding for settlement. The parties finalized a settlement agreement and amended PSA, which were filed with FERC on December 6, 2012. The settlement agreement and amended PSA provided for an annual increase in revenue of $5.3 million and an extension of the contract for 10 years through December 31, 2035. On April 5, 2013, FERC approved the settlement agreement and the amended PSA. In 2015 and 2014, monthly billing demand for power supplied to NEC averaged approximately 54 MW and 55 MW and revenues were $27.1 million and $28.4 million under the PSA. On April 8, 2015, NEC filed a petition for a declaratory order requesting that FERC find that NEC can purchase an unlimited amount of power and energy from third party supplier(s) under the amended PSA. On May 8, 2015, PNM filed an intervention and protest with FERC requesting that FERC deny NEC’s petition or to proceed with a public hearing if the petition is not denied. On July 16, 2015, FERC issued an order setting the matter for a public hearing concerning the parties’ intent with regard to certain provisions of the PSA and held the hearing in abeyance to provide time for settlement judge procedures. Following proceedings before a settlement judge, PNM and NEC entered into, and filed with FERC, a settlement agreement on October 29, 2015 that includes certain amendments to the PSA and related contracts on file with FERC that, subject to FERC approval, would settle this matter. Under the settlement agreement, PNM would continue to serve all of NEC’s load through December 31, 2015 at rates that are substantially consistent with those currently provided under the PSA. In 2016, PNM would serve all of NEC’s load at reduced demand and energy rates from those under the PSA. Beginning January 1, 2016, NEC would also pay certain third-party transmission costs that it did not pay in 2014 and partially paid in 2015. The PSA and related transmission agreements would terminate on December 31, 2016. In 2017, PNM would serve 10 MW of NEC’s load under a short term coordination tariff at a rate lower than provided under the PSA. PNM received approval to bill interim rates, which reflect the settlement, effective November 1, 2015 under the PSA and effective January 1, 2016 under the related contracts. FERC approved the settlement on January 21, 2016. City of Gallup, New Mexico Contract PNM provided both energy and power services to Gallup, previously PNM’s second largest firm-requirements wholesale customer, under an electric service agreement that was to expire on June 30, 2013. On May 1, 2013, PNM and Gallup agreed to extend the term of the agreement to June 30, 2014 and to increase the demand and energy rates under the agreement. On September 26, 2013, Gallup issued a request for proposals for long-term power supply. PNM submitted a proposal, but in March 2014, Gallup notified PNM that the contract for long-term power supply had been awarded to another utility. PNM’s contract with Gallup ended on June 29, 2014. PNM’s revenues for power sold under the Gallup contract were $6.1 million in the six months ended June 30, 2014 and totaled $11.7 million during 2013. PNM’s New Mexico General Rate Case discussed above reflects a reallocation of costs among regulatory jurisdictions reflecting the termination of the contract to serve Gallup. In conjunction with the termination of PNM’s electric service agreement with Gallup, Gallup purchased substations and associated transmission facilities owned by PNM that had been used solely to provide service to Gallup. This sale resulted in a gain of $1.1 million , which PNM recorded in other income during the three months ended June 30, 2015. TNMP Advanced Meter System Deployment In July 2011, the PUCT approved a settlement and authorized an AMS deployment plan that permits TNMP to collect $113.4 million in deployment costs through a surcharge over a 12 -year period. TNMP began collecting the surcharge on August 11, 2011. Deployment of advanced meters began in September 2011 and is scheduled to be completed over a 5 -year period. In February 2012, the PUCT opened a proceeding to consider the feasibility of an “opt-out” program for retail consumers that wish to decline receipt of an advanced meter. The PUCT requested comments and held a public meeting on various issues. However, various individuals filed a petition with the PUCT seeking a moratorium on any advanced meter deployment. The PUCT denied the petition and an appeal was filed with the Texas District Court on September 28, 2012. Subsequently, the Texas District Court dismissed the case on jurisdictional grounds and the complainants appealed to the Texas Third Court of Appeals. The Third Court of Appeals affirmed the dismissal on November 25, 2015. This matter is now concluded. The PUCT adopted a rule on August 15, 2013 creating a non-standard metering service for retail customers choosing to decline standard metering service via an advanced meter. The cost of providing non-standard metering service is to be borne by opt-out customers through an initial fee and ongoing monthly charge. On September 30, 2013, TNMP filed an application to set the initial fee and monthly charges to be assessed for non-standard metering service provided to those retail customers who choose to decline the advanced meter necessary for standard metering service. On June 20, 2014, the PUCT approved a settlement permitting TNMP to recover $0.2 million in costs through initial fees ranging from $63.97 to $168.61 and ongoing annual expenses of $0.5 million collected through a $36.78 monthly fee. The settlement presumes up to 1,081 consumers will elect the non-standard meter service, but preserves TNMP’s rights to adjust the fees if the number of anticipated consumers differs from that estimate. TNMP notified all appropriate customers that they could elect non-standard metering. As of February 19, 2016, 98 customers have made the election. TNMP does not expect the implementation of non-standard metering service to have a material impact on its financial position, results of operations, or cash flows. On October 2, 2015, TNMP filed a reconciliation of the costs and savings of its AMS deployment program with the PUCT. Those costs include $71.0 million in capital costs and $18.0 million in operation and maintenance expenses. However, since the deployment is not complete and the total program costs to date are $1.5 million below the original approved forecasts, TNMP is not requesting a change to its monthly surcharge amount. The reconciliation is subject to prudency and reasonableness review by the PUCT. On January 8, 2016, the PUCT staff recommended that the PUCT approve TNMP’s reconciliation without adjustment. The matter is pending before the PUCT. TNMP is unable to predict the outcome of this matter. Energy Efficiency TNMP recovers the costs of its energy efficiency programs through an energy efficiency cost recovery factor, which includes projected program costs, under or over collected costs from prior years, rate case expenses, and performance bonuses (if the programs exceed mandated savings goals). The following sets forth TNMP’s energy efficiency cost recovery factor increases: Effective Date Aggregate Collection Amount Performance Bonus (in millions) January 1, 2013 $ 5.2 $ — March 1, 2014 5.6 0.7 March 1, 2015 5.7 1.5 March 1, 2016 6.0 0.7 Transmission Cost of Service Rates TNMP can update its transmission rates twice per year to reflect changes in its invested capital. Updated rates reflect the addition and retirement of transmission facilities, including appropriate depreciation, federal income tax and other associated taxes, and the approved rate of return on such facilities. The following sets forth TNMP’s recent interim transmission cost rate increases: Effective Date Approved Increase in Rate Base Annual Increase in Revenue (in millions) September 27, 2012 $ 26.4 $ 2.5 March 20, 2013 21.9 2.9 September 17, 2013 18.1 2.8 March 13, 2014 18.2 2.9 September 8, 2014 25.2 4.2 March 16, 2015 27.1 4.4 September 10, 2015 7.0 1.4 On January 29, 2016, TNMP filed an application to further update its transmission rates, which would increase revenues by $4.3 million annually, based on an increase in rate base of $25.8 million . The application is pending before the PUCT. Periodic Distribution Rate Adjustment In September 2011, the PUCT approved a rule permitting interim rate adjustments to reflect changes in investments in distribution assets. The rule permits distribution utilities to file for a periodic rate adjustment between April 1 and April 8 of each year as long as the electric utility is not earning more than its authorized rate of return using weather-normalized data. Consolidated Tax Savings Adjustment On June 14, 2013, the Governor of Texas signed into law a bill eliminating the consolidated tax savings adjustment (“CTSA”) from electric utility ratemaking in Texas. Previously, the CTSA required electric utilities to artificially reduce their respective tax expenses due to the losses incurred by their affiliates. The bill became effective on September 1, 2013.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) AOCI reports a measure for accumulated changes in equity that result from transactions and other economic events other than transactions with shareholders. Information regarding AOCI is as follows: Accumulated Other Comprehensive Income (Loss) PNM TNMP PNMR Unrealized Gains on Available-for-Sale Securities Pension Liability Adjustment Total Fair Value Adjustment for Cash Flow Hedges Fair Value Adjustment for Cash Flow Hedges Total (In thousands) Balance at December 31, 2012 $ 16,406 $ (97,820 ) $ (81,414 ) $ (216 ) $ — $ (81,630 ) Amounts reclassified from AOCI (pre-tax) (11,956 ) 6,364 (5,592 ) 207 — (5,385 ) Income tax impact of amounts reclassified 4,734 (2,524 ) 2,210 (73 ) — 2,137 Other OCI changes (pre-tax) 27,419 17,136 44,555 (279 ) — 44,276 Income tax impact of other OCI changes (10,855 ) (6,781 ) (17,636 ) 98 — (17,538 ) Net change after income taxes 9,342 14,195 23,537 (47 ) — 23,490 Balance at December 31, 2013 25,748 (83,625 ) (57,877 ) (263 ) — (58,140 ) Amounts reclassified from AOCI (pre-tax) (13,862 ) 5,152 (8,710 ) 558 — (8,152 ) Income tax impact of amounts reclassified 5,461 (2,032 ) 3,429 (195 ) — 3,234 Other OCI changes (pre-tax) 17,473 (15,282 ) 2,191 (153 ) — 2,038 Income tax impact of other OCI changes (6,812 ) 6,024 (788 ) 53 — (735 ) Net change after income taxes 2,260 (6,138 ) (3,878 ) 263 — (3,615 ) Balance at December 31, 2014 28,008 (89,763 ) (61,755 ) — — (61,755 ) Amounts reclassified from AOCI (pre-tax) (28,531 ) 5,952 (22,579 ) — — (22,579 ) Income tax impact of amounts reclassified 11,181 (2,332 ) 8,849 — — 8,849 Other OCI changes (pre-tax) 10,998 (4,405 ) 6,593 — 72 6,665 Income tax impact of other OCI changes (4,310 ) 1,726 (2,584 ) — (28 ) (2,612 ) Net change after income taxes (10,662 ) 941 (9,721 ) — 44 (9,677 ) Balance at December 31, 2015 $ 17,346 $ (88,822 ) $ (71,476 ) $ — $ 44 $ (71,432 ) Pre-tax amounts reclassified from AOCI related to Unrealized Gains on Available-for-Sale Securities are included in Gains on available-for-sale securities in the Consolidated Statements of Earnings. Pre-tax amounts reclassified from AOCI related to Pension Liability Adjustment are reclassified to Operating Expenses – Administrative and general in the Consolidated Statements of Earnings. For the years ended December 31, 2015 and 2014, approximately 22.2% and 24.4% of the amount reclassified were capitalized into construction work in process and approximately 2.4% and 2.0% were capitalized into other accounts. Pre-tax amounts reclassified from AOCI related to Fair Value Adjustment for Cash Flow Hedges are reclassified to Interest Charges in the Consolidated Statements of Earnings. An insignificant amount is then capitalized as AFUDC and capitalized interest. The income tax impacts of all amounts reclassified from AOCI are included in Income Taxes in the Consolidated Statements of Earnings.

Goodwill; Impairments

Goodwill; Impairments	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill; Impairments	Goodwill; Impairments The excess purchase price over the fair value of the assets acquired and the liabilities assumed by PNMR for its 2005 acquisition of TNP was recorded as goodwill and was pushed down to the businesses acquired. In 2007, the TNMP assets that were included in its New Mexico operations, including goodwill, were transferred to PNM. GAAP requires the Company to evaluate its goodwill for impairment annually at the reporting unit level or more frequently if circumstances indicate that the goodwill may be impaired. The Company evaluates goodwill impairment as of April 1st of each year. PNMR’s reporting units that have goodwill are PNM and TNMP. Application of the impairment test requires judgment, including the identification of reporting units, assignment of assets and liabilities to reporting units, and determination of the fair value of each reporting unit. GAAP provides that in certain circumstances an entity may perform a qualitative analysis to conclude that the goodwill of a reporting unit is not impaired. Under a qualitative assessment an entity considers macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, other relevant entity-specific events affecting a reporting unit, as well as whether a sustained decrease (both absolute and relative to its peers) in share price had occurred. An entity considers the extent to which each of the adverse events and circumstances identified could affect the comparison of a reporting unit’s fair value with its carrying amount. An entity places more weight on the events and circumstances that most affect a reporting unit’s fair value or the carrying amount of its net assets. An entity also considers positive and mitigating events and circumstances that may affect its determination of whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. An entity evaluates, on the basis of the weight of evidence, the significance of all identified events and circumstances in determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, an entity determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, a quantitative analysis is not required. In other circumstances, an entity may perform a quantitative analysis to reach the conclusion regarding impairment with respect to a reporting unit. The first step of the quantitative impairment test requires an entity to compare the fair value of the reporting unit with its carrying value, including goodwill. If as a result of this analysis, the entity concludes there is an indication of impairment in a reporting unit having goodwill, the entity is required to perform the second step of the impairment analysis, determining the amount of goodwill impairment to be recorded. The amount is calculated by comparing the implied fair value of the goodwill to its carrying amount. This exercise requires the entity to allocate the fair value determined in step one to the individual assets and liabilities of the reporting unit. Any remaining fair value would be the implied fair value of goodwill on the testing date. To the extent the recorded amount of goodwill of a reporting unit exceeds the implied fair value determined in step two, an impairment loss would be reflected in results of operations. An entity may choose to perform a quantitative analysis without performing a qualitative analysis and may perform a qualitative analysis for certain reporting units, but a quantitative analysis for others. Prior to 2013, the Company performed qualitative analyses for all reporting units having goodwill. For the annual evaluations performed as of April 1, 2015, 2014, and 2013, PNMR utilized a qualitative analysis for the TNMP reporting unit and a quantitative analysis for the PNM reporting unit. For the PNM reporting unit, a discounted cash flow methodology was primarily used in the quantitative analysis to estimate the fair value of the reporting unit. This analysis requires significant judgments, including estimation of future cash flows, which is dependent on internal forecasts, estimation of long-term growth rates for the business, and determination of appropriate weighted average cost of capital for each reporting unit. Changes in these estimates and assumptions could materially affect the determination of fair value and the conclusion of impairment. The April 1, 2015 and 2014 quantitative evaluations indicated the fair value of the PNM reporting unit, which has goodwill of $51.6 million , exceeded its carrying value by approximately 25% and 30% . An increase of 0.5% in the expected return on equity capital utilized in discounting the forecasted cash flows, would have reduced the excess of PNM’s fair value over carrying value to approximately 18% and 23% at April 1, 2015 and 2014. The 2015 and 2014 qualitative analysis for the TNMP reporting unit, which has goodwill of $226.7 million , included the consideration of various reporting unit specific factors as well as industry and macroeconomic factors to determine whether these factors were reasonably likely to have a material impact on the fair value of the reporting unit. Factors considered included the results of the April 1, 2012 quantitative analysis, which indicated that fair value exceeded carrying value of the reporting unit by approximately 26% , current and long-term forecasted financial results, regulatory environment, credit rating, interest rate environment, absolute and relative price of PNMR’s common stock, and operating strategy. TNMP believes it is operating within a generally favorable regulatory environment, its historical and forecasted financial results are positive, and its credit is perceived positively. Based on the analysis of the relevant factors, PNMR concluded that it is more likely than not that the fair value of the TNMP reporting unit exceeds its carrying value. The annual evaluations performed as of April 1, 2015 and 2014 did not indicate impairments of the goodwill of any of PNMR’s reporting units. Since the April 1, 2015 annual evaluation, there have been no indications that the fair values of the reporting units with recorded goodwill have decreased below the carrying values. Prior annual evaluations have not indicated impairments of any of PNMR’s reporting units, except in 2008. During 2008, the market capitalization of PNMR’s common stock was significantly below book value. In addition, a PNMR reporting unit that was sold in 2011 was significantly impacted by depressed economic conditions and changes in the market in which it operated. As a result, goodwill impairments of $51.1 million for PNM, $34.5 million for TNMP, and an aggregate of $174.4 million for PNMR were recorded in 2008. Since 2008, the price of PNMR’s common stock has increased, improving the relationship between PNMR’s market capitalization and book value. In addition, improved regulatory treatment has been experienced by PNM in New Mexico and by TNMP in Texas. These factors resulted in more predictable earnings and increased fair values of the reporting units. Since 2008, the annual evaluations have not indicated that the fair values of the reporting units with recorded goodwill have decreased below their carrying values.

Quarterly Operating Results (Un

Quarterly Operating Results (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Data [Abstract]
Quarterly Operating Results (Unaudited)	Quarterly Operating Results (Unaudited) Unaudited operating results by quarters for 2015 and 2014 are presented below. In the opinion of management of the Company, all adjustments (consisting of normal recurring accruals) necessary for a fair statement of the results of operations for such periods have been included. Quarter Ended March 31 June 30 September 30 December 31 (In thousands, except per share amounts) PNMR 2015 Operating revenues $ 332,868 $ 352,887 $ 417,433 $ 335,894 Operating income 49,569 72,414 121,505 (119,138 ) (1) Net earnings 17,852 35,655 64,855 (87,284 ) Net earnings attributable to PNMR 14,340 31,673 61,045 (91,418 ) Net Earnings Attributable to PNMR per Common Share: Basic 0.18 0.40 0.77 (1.15 ) Diluted 0.18 0.40 0.76 (1.15 ) 2014 Operating revenues $ 328,897 $ 346,160 $ 413,951 $ 346,845 Operating income 48,753 71,296 116,799 62,849 Net earnings 16,131 33,181 59,486 22,111 Net earnings attributable to PNMR 12,468 29,141 55,653 18,992 Net Earnings Attributable to PNMR per Common Share: Basic 0.16 0.37 0.70 0.24 Diluted 0.16 0.36 0.69 0.24 PNM 2015 Operating revenues $ 261,940 $ 275,450 $ 333,437 $ 260,368 Operating income 31,655 47,179 93,710 (139,164 ) Net earnings (loss) 13,502 25,363 53,056 (92,245 ) Net earnings (loss) attributable to PNM 10,122 21,513 49,378 (96,247 ) 2014 Operating revenues $ 262,736 $ 275,704 $ 334,993 $ 274,481 Operating income 31,304 49,806 90,615 40,988 Net earnings 11,205 24,254 49,052 16,942 Net earnings attributable to PNM 7,674 20,346 45,351 13,955 TNMP 2015 Operating revenues $ 70,928 $ 77,437 $ 83,996 $ 75,526 Operating income 17,931 24,729 27,667 19,706 Net earnings 7,694 11,865 13,689 8,715 2014 Operating revenues $ 66,161 $ 70,456 $ 78,958 $ 72,364 Operating income 17,262 21,265 25,873 21,188 Net earnings 6,803 9,534 12,355 9,115 (1) Includes an expense of $165.7 million related to the BART determination for SJGS discussed in Note 16.

Schedule I - Condensed Financia

Schedule I - Condensed Financial Information of Parent Company	12 Months Ended
	Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule I - Condensed Financial Information of Parent Company	SCHEDULE I PNM RESOURCES, INC. CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY STATEMENTS OF EARNINGS Year ended December 31, 2015 2014 2013 (In thousands) Operating Revenues $ — $ — $ — Operating Expenses 1,221 650 941 Operating income (loss) (1,221 ) (650 ) (941 ) Other Income and Deductions: Equity in earnings of subsidiaries 27,352 124,543 116,634 Other income 747 622 769 Other deductions (8,275 ) (13,650 ) (22,825 ) Net other income (deductions) 19,824 111,515 94,578 Earnings Before Income Taxes 18,603 110,865 93,637 Income Tax Expense (Benefit) 2,963 (5,389 ) (6,870 ) Net Earnings $ 15,640 $ 116,254 $ 100,507 SCHEDULE I PNM RESOURCES, INC. CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY STATEMENTS OF CASH FLOWS Year Ended December 31, 2015 2014 2013 (In thousands) Cash Flows From Operating Activities: Net earnings $ 15,640 $ 116,254 $ 100,507 Adjustments to reconcile net earnings to net cash flows from operating activities: Depreciation and amortization 509 680 4,192 Deferred income tax expense (79,526 ) (69,442 ) (51,820 ) Equity in (earnings) of subsidiaries (27,352 ) (124,543 ) (116,634 ) Loss on reacquired debt — — 3,253 Stock based compensation expense 4,863 5,931 5,320 Changes in certain assets and liabilities: Other current assets 7,664 22,955 28,460 Other assets 69,443 51,644 46,558 Accounts payable 370 (88 ) 620 Accrued interest and taxes 4,823 (7,683 ) (9,266 ) Other current liabilities — (1,668 ) (146 ) Other liabilities 4,941 28,704 (27,756 ) Net cash flows from operating activities 1,375 22,744 (16,712 ) Cash Flows From Investing Activities: Utility plant additions 368 (474 ) (960 ) Investments in subsidiaries (175,000 ) — (13,800 ) Cash dividends from subsidiaries 127,688 46,599 158,772 Net cash flows from investing activities (46,944 ) 46,125 144,012 Cash Flows From Financing Activities: Short-term loan 50,000 — — Short-term borrowings (repayments), net 41,000 600 (37,600 ) Long-term borrowings 150,000 — — Repayment of long-term debt (118,766 ) — (29,468 ) Proceeds from stock option exercise 5,619 6,999 4,618 Purchases to satisfy awards of common stock (17,720 ) (17,319 ) (13,807 ) Dividends paid (63,723 ) (58,940 ) (50,980 ) Other, net (782 ) 81 — Net cash flows from financing activities 45,628 (68,579 ) (127,237 ) Change in Cash and Cash Equivalents 59 290 63 Cash and Cash Equivalents at Beginning of Period 382 92 29 Cash and Cash Equivalents at End of Period $ 441 $ 382 $ 92 Supplemental Cash Flow Disclosures: Interest paid, net of amounts capitalized $ 7,559 $ 12,152 $ 14,510 Income taxes paid (refunded), net $ (730 ) $ (2,014 ) $ 22,378 SCHEDULE I PNM RESOURCES, INC. CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY BALANCE SHEETS December 31, 2015 2014 (In thousands) Assets Cash and cash equivalents $ 441 $ 382 Intercompany receivables 102,676 107,619 Income taxes receivable — 29 Other, net 524 548 Total current assets 103,641 108,578 Property, plant and equipment, net of accumulated depreciation of $11,276 and $10,251 26,707 27,076 Investment in subsidiaries 1,822,593 1,757,650 Other long-term assets 81,168 78,347 Total long-term assets 1,930,468 1,863,073 $ 2,034,109 $ 1,971,651 Liabilities and Stockholders’ Equity Short-term debt $ 191,600 $ 100,600 Short-term debt-affiliate 8,819 8,819 Current maturities of long-term debt — 118,607 Accrued interest and taxes 7,780 2,816 Other current liabilities 18,282 16,320 Total current liabilities 226,481 247,162 Long-term debt 149,860 — Other long-term liabilities 2,955 2,943 Total liabilities 379,296 250,105 Common stock (no par value; 120,000,000 shares authorized; issued and outstanding 79,653,624 shares) 1,166,465 1,173,845 Accumulated other comprehensive income (loss), net of tax (71,432 ) (61,755 ) Retained earnings 559,780 609,456 Total common stockholders’ equity 1,654,813 1,721,546 $ 2,034,109 $ 1,971,651 See Notes 6, 7, 14, and 16 for information regarding commitments, contingencies, and maturities of long-term debt. See Notes 6 and 11 regarding reclassifications of December 31, 2014 balances related to the adoption of new accounting standards during 2015.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	SCHEDULE II PNM RESOURCES, INC. AND SUBSIDIARIES VALUATION AND QUALIFYING ACCOUNTS Additions Deductions Description Balance at beginning of year Charged to costs and expenses Charged to other accounts Write-offs and other Balance at end of year (In thousands) Allowance for doubtful accounts, year ended December 31: 2013 $ 1,751 $ 2,849 $ — $ 3,177 $ 1,423 2014 $ 1,423 $ 3,267 $ — $ 3,224 $ 1,466 2015 $ 1,466 $ 3,358 $ — $ 3,427 $ 1,397 SCHEDULE II PUBLIC SERVICE COMPANY OF NEW MEXICO AND SUBSIDIARY A WHOLLY OWNED SUBSIDIARY OF PNM RESOURCES, INC. VALUATION AND QUALIFYING ACCOUNTS Additions Deductions Description Balance at beginning of year Charged to costs and expenses Charged to other accounts Write-offs Balance at end of year (In thousands) Allowance for doubtful accounts, year ended December 31: 2013 $ 1,751 $ 2,864 $ — $ 3,192 $ 1,423 2014 $ 1,423 $ 3,275 $ — $ 3,232 $ 1,466 2015 $ 1,466 $ 3,344 $ — $ 3,413 $ 1,397 SCHEDULE II TEXAS-NEW MEXICO POWER COMPANY AND SUBSIDIARIES A WHOLLY OWNED SUBSIDIARY OF PNM RESOURCES, INC. VALUATION AND QUALIFYING ACCOUNTS Additions Deductions Description Balance at beginning of year Charged to costs and expenses Charged to other accounts Write-offs Balance at end of year (In thousands) Allowance for doubtful accounts, year ended December 31: 2013 $ — $ (15 ) $ — $ (15 ) $ — 2014 $ — $ (8 ) $ — $ (8 ) $ — 2015 $ — $ 14 $ — $ 14 $ —

Summary of the Business and S31

Summary of the Business and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The Consolidated Financial Statements of each of PNMR, PNM, and TNMP include their accounts and those of subsidiaries in which that entity owns a majority voting interest. PNM also consolidates Valencia (Note 9) and, through January 15, 2016, the PVNGS Capital Trust. PNM owns undivided interests in several jointly-owned power plants and records its pro-rata share of the assets, liabilities, and expenses for those plants. PNMR shared services’ administrative and general expenses, which represent costs that are primarily driven by corporate level activities, are charged to the business segments. These services are billed at cost. Other significant intercompany transactions between PNMR, PNM, and TNMP include interest and income tax sharing payments, as well as equity transactions. All intercompany transactions and balances have been eliminated.
Accounting for the Effects of Certain Types of Regulation	Accounting for the Effects of Certain Types of Regulation The Company maintains its accounting records in accordance with the uniform system of accounts prescribed by FERC and adopted by the NMPRC and PUCT. Certain of the Company’s operations are regulated by the NMPRC, PUCT, and FERC and the provisions of GAAP for rate-regulated enterprises are applied to the regulated operations. Regulators may assign costs to accounting periods that differ from accounting methods applied by non-regulated utilities. When it is probable that regulators will permit recovery of costs through future rates, costs are deferred as regulatory assets that otherwise would be expensed. Likewise, regulatory liabilities are recognized when it is probable that regulators will require refunds through future rates or when revenue is collected for expenditures that have not yet been incurred. GAAP also provides for the recognition of revenue and regulatory assets and liabilities associated with “alternative revenue programs” authorized by regulators. Such programs allow the utility to adjust future rates in response to past activities or completed events, if certain criteria are met, even for programs that do not otherwise qualify for recognition of regulatory assets and liabilities. Regulatory assets and liabilities are amortized into earnings over the authorized recovery period. Accordingly, the Company has deferred certain costs and recorded certain liabilities pursuant to the rate actions of the NMPRC, PUCT, and FERC. Information on regulatory assets and regulatory liabilities is contained in Note 4. In some circumstances, regulators allow a requested increase in rates to be implemented, subject to refund, before the regulatory process has been completed and a decision rendered by the regulator. When this occurs, the Company assesses the possible outcomes of the rate proceeding. The Company records a provision for refund to the extent the amounts being collected, subject to refund, exceed the amount the Company determines is probable of ultimately being allowed by the regulator.
Cash and Cash Equivalents	Cash and Cash Equivalents Investments in highly liquid investments with original maturities of three months or less at the date of purchase are considered cash equivalents.
Utility Plant	Utility Plant Utility plant is stated at cost, which includes capitalized payroll-related costs such as taxes, pension, and other fringe benefits, administrative costs, and AFUDC where authorized by rate regulation. Repairs, including major maintenance activities, and minor replacements of property are expensed when incurred, except as required by regulators for ratemaking purposes. Major replacements are charged to utility plant. Gains or losses resulting from retirements or other dispositions of regulated property in the normal course of business are credited or charged to accumulated depreciation.
Depreciation and Amortization	Depreciation and Amortization PNM’s provision for depreciation and amortization of utility plant, other than nuclear fuel, is based upon composite straight-line rates approved by the NMPRC. Amortization of nuclear fuel is based on units-of-production. TNMP’s provision for depreciation and amortization of utility plant is based upon straight-line rates approved by the PUCT. Depreciation of non-utility property is computed based on the straight-line method. The provision for depreciation of certain equipment is allocated between operating expenses and construction projects based on the use of the equipment. Average straight-line rates used were as follows: Year ended December 31 2015 2014 2013 PNM Electric plant 2.27 % 2.26 % 2.27 % Common, intangible, and general plant 4.66 % 4.64 % 4.87 % TNMP 3.94 % 3.59 % 3.66 %
Allowance for Funds Used During Construction	Allowance for Funds Used During Construction As provided by the FERC uniform systems of accounts, AFUDC is charged to regulated utility plant for construction projects. This allowance is a non-cash item designed to enable a utility to capitalize financing costs during periods of construction of property subject to rate regulation. It represents the cost of borrowed funds (allowance for borrowed funds used during construction) and a return on other funds (allowance for equity funds used during construction). The allowance for borrowed funds used during construction is recorded in interest charges and the allowance for equity funds used during construction is recorded in other income on the Consolidated Statements of Earnings.
Capitalized Interest	Capitalized Interest The Company capitalizes interest on its construction projects and major computer software projects not subject to the computation of AFUDC.
Materials, Supplies, and Fuel Stock	Materials, Supplies, and Fuel Stock Materials and supplies relate to transmission, distribution, and generating assets. Materials and supplies are charged to inventory when purchased and are expensed or capitalized as appropriate when issued. Materials and supplies are valued using an average costing method. Coal is valued using a rolling weighted average costing method that is updated based on the current period cost per ton. Periodic aerial surveys are performed on the coal piles and adjustments are made. Average cost is equal to net realizable value under the ratemaking process.
Investments	PNM holds investment securities in the NDT for the purpose of funding its share of the decommissioning costs of PVNGS and a trust for PNM’s share of post-term reclamation costs related to the coal mines serving SJGS (Note 16). All of these investments are classified as available-for-sale. PNM evaluates the securities for impairment on an on-going basis. Since third party investment managers have sole discretion over the purchase and sales of the securities, PNM records a realized loss as an impairment for any security that has a market value that is less than cost at the end of each quarter. For the years ended December 31, 2015 , 2014 , and 2013 , PNM recorded impairment losses on the available-for-sale securities held in the NDT and coal mine reclamation trust of $10.4 million , $4.8 million , and $3.5 million . No gains or losses are deferred as regulatory assets or liabilities. Unrealized gains on these investments, net of related tax effects, are included in OCI and AOCI. The available-for-sale securities are primarily comprised of international, United States, state, and municipal government obligations and corporate debt and equity securities. All investments are held in PNM’s name and are in the custody of major financial institutions. The specific identification method is used to determine the cost of securities disposed of, with realized gains and losses reflected in other income and deductions.
Goodwill	Goodwill Under GAAP, the Company does not amortize goodwill. Goodwill is evaluated for impairment annually, or more frequently if events and circumstances indicate that the goodwill might be impaired.
Asset Impairment	Asset Impairment Tangible long-lived assets are evaluated in relation to the estimated future undiscounted cash flows to assess recoverability when events and circumstances indicate that the assets might be impaired.
Revenue Recognition	Revenue Recognition Electric operating revenues are recorded in the period of energy delivery, which includes estimated amounts for service rendered but unbilled at the end of each accounting period. The determination of the energy sales to individual customers is based on the reading of their meters, which occurs on a systematic basis throughout the month. At the end of each month, amounts of energy delivered to customers since the date of the last meter reading and the corresponding unbilled revenue are estimated. Unbilled electric revenue is estimated based on the daily generation volumes, estimated customer usage by class, weather factors, line losses, and applicable customer rates reflecting historical trends and experience. PNM’s wholesale electricity sales are recorded as electric operating revenues and the wholesale electricity purchases are recorded as costs of energy sold. In accordance with GAAP, derivative contracts that are net settled or “booked-out” are recorded net in earnings. A book-out is the planned or unplanned netting of off-setting purchase and sale transactions. A book-out is a transmission mechanism to reduce congestion on the transmission system or administrative burden. For accounting purposes, a book-out is the recording of net revenues upon the settlement of a derivative contract. Unrealized gains and losses on contracts that do not qualify for the normal purchases or normal sales exception or are not designated for hedge accounting are classified as economic hedges. Economic hedges are defined as derivative instruments, including long-term power and fuel supply agreements, used to hedge generation assets and purchased power costs. Changes in the fair value of economic hedges are reflected in results of operations, with changes related to economic hedges on sales included in operating revenues and changes related to economic hedges on purchases included in cost of energy sold.
Accounts Receivable and Allowance for Uncollectible Accounts	Accounts Receivable and Allowance for Uncollectible Accounts Accounts receivable consists primarily of trade receivables from customers. In the normal course of business, credit is extended to customers on a short-term basis. The Company calculates the allowance for uncollectible accounts based on historical experience and estimated default rates. The accounts receivable balances are reviewed monthly and adjustments to the allowance for uncollectible accounts and bad debt expense are made as necessary. Amounts that are deemed uncollectible are written off.
Amortization of Debt Acquisition Costs	Amortization of Debt Acquisition Costs Discount, premium, and expense related to the issuance of long-term debt are amortized over the lives of the respective issues. Gains and losses incurred upon the early retirement of long-term debt are recognized in other income or other deductions, except for amounts attributable to NMPRC, FERC, or PUCT regulation, which are recorded as regulatory assets or liabilities and amortized over the lives of the respective issues.
Derivatives	Derivatives The Company records derivative instruments, including energy contracts, other than those designated as normal purchases or normal sales, in the balance sheet as either an asset or liability measured at their fair value. GAAP requires that changes in the derivatives’ fair value be recognized currently in earnings unless specific hedge accounting or normal purchase or normal sale criteria are met. Normal purchases and normal sales are not marked to market and are reflected in results of operations when the underlying transactions settle. For qualifying hedges, an entity must formally document, designate, and assess the effectiveness of transactions that receive hedge accounting. GAAP provides that the effective portion of the gain or loss on a derivative instrument designated and qualifying as a cash flow hedging instrument be reported as a component of AOCI and be reclassified into earnings in the period during which the hedged forecasted transaction affects earnings. The results of hedge ineffectiveness and the portion of the change in fair value of a derivative that an entity has chosen to exclude from hedge effectiveness are required to be presented in current earnings. See Note 6 and Note 8. The Company treats all forward commodity purchases and sales contracts subject to unplanned netting or book-out by the transmission provider as derivative instruments subject to mark-to-market accounting, unless the contract qualifies for the normal exception by meeting the definition of a capacity contract. Under this definition, the contract cannot permit net settlement, the seller must have the resources to serve the contract, and the buyer must be a load serving entity. GAAP provides guidance on whether realized gains and losses on derivative contracts not held for trading purposes should be reported on a net or gross basis and concludes such classification is a matter of judgment that depends on the relevant facts and circumstances. Under derivative accounting and related rules for energy contracts, the Company accounts for its various derivative instruments for the purchase and sale of energy based on the Company’s intent. During the years ended December 31, 2015 , 2014 , and 2013, the Company was not hedging its exposure to the variability in future cash flows from commodity derivatives through designated cash flows hedges. The contracts recorded at fair value that do not qualify or are not designated for cash flow hedge accounting are classified as economic hedges. Economic hedges are defined as derivative instruments, including long-term power agreements, used to economically hedge generation assets, purchased power and fuel costs, and customer load requirements. Changes in the fair value of economic hedges are reflected in results of operations and are classified between operating revenues and cost of energy according to the intent of the hedge. The Company has no trading transactions. Fair value is defined under GAAP as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair value is based on current market quotes as available and is supplemented by modeling techniques and assumptions made by the Company to the extent quoted market prices or volatilities are not available. External pricing input availability varies based on commodity location, market liquidity, and term of the agreement. Valuations of derivative assets and liabilities take into account nonperformance risk including the effect of counterparties’ and the Company’s credit risk. The Company regularly assesses the validity and availability of pricing data for its derivative transactions. Although the Company uses its best judgment in estimating the fair value of these instruments, there are inherent limitations in any estimation technique.
Decommissioning and Reclamation Costs	Decommissioning and Reclamation Costs PNM owns and leases nuclear and fossil-fuel generating facilities. In accordance with GAAP, PNM is only required to recognize and measure decommissioning liabilities for tangible long-lived assets for which a legal obligation exists. Nuclear decommissioning costs and related accruals are based on periodic site-specific estimates of the costs for removing all radioactive and other structures at PVNGS and are dependent upon numerous assumptions, including estimates of future decommissioning costs at current price levels, inflation rates, and discount rates. PNM’s accruals for PVNGS Units 1, 2, and 3, including portions held under leases, have been made based on such estimates, the guidelines of the NRC, and the extended PVNGS license periods. PVNGS Units 1 and 2 are included in PNM’s retail rates while PVNGS Unit 3 is currently excluded. PNM collects a provision for ultimate decommissioning of PVNGS Units 1 and 2 and its fossil-fueled generation facilities in its rates and recognizes a corresponding expense and liability for these amounts. See Note 15 and Note 16. In connection with both the SJGS coal agreement and the Four Corners fuel agreement, the owners are required to reimburse the mining companies for the cost of contemporaneous reclamation, as well as the costs for final reclamation of the coal mines. The reclamation costs are based on periodic site-specific studies that estimate the costs to be incurred in the future and are dependent upon numerous assumptions, including estimates of future reclamation costs at current price levels, inflation rates, and discount rates. PNM considers the contemporaneous reclamation costs part of the cost of its delivered coal costs. See Note 16 for a discussion of the final reclamation costs.
Environmental Costs	Environmental Costs The normal operations of the Company involve activities and substances that expose the Company to potential liabilities under laws and regulations protecting the environment. Liabilities under these laws and regulations can be material and in some instances may be imposed without regard to fault, or may be imposed for past acts, even though the past acts may have been lawful at the time they occurred. The Company records its environmental liabilities when site assessments or remedial actions are probable and a range of reasonably likely cleanup costs can be estimated. The Company reviews its sites and measures the liability by assessing a range of reasonably likely costs for each identified site using currently available information and the probable level of involvement and financial condition of other potentially responsible parties. These estimates are based on assumptions regarding the costs for site investigations, remediation, operations and maintenance, monitoring, and site closure. The ultimate cost to clean up the Company’s identified sites may vary from its recorded liability due to numerous uncertainties inherent in the estimation process.
Income Taxes	Income Taxes Income taxes are recognized using the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying value of existing assets and liabilities and their respective tax basis. Current NMPRC, FERC, and PUCT approved rates include the tax effects of the majority of these differences. GAAP requires that rate-regulated enterprises record deferred income taxes for temporary differences accorded flow-through treatment at the direction of a regulatory commission. The resulting deferred tax assets and liabilities are recorded at the expected cash flow to be reflected in future rates. Because the NMPRC, FERC, and the PUCT have consistently permitted the recovery of tax effects previously flowed-through earnings, the Company has established regulatory liabilities and assets offsetting such deferred tax assets and liabilities. The Company recognizes only the impact of tax positions that, based on their merits, are more likely than not to be sustained upon an IRS audit. The Company defers investment tax credits related to rate regulated assets and amortizes them over the estimated useful lives of those assets. See Note 11. The Company makes an estimate of its anticipated effective tax rate for the year as of the end of each quarterly period within its fiscal year. In interim periods, income tax expense is calculated by applying the anticipated annual effective tax rate to year-to-date earnings before taxes, which includes the earnings attributable to the Valencia non-controlling interest. GAAP also provides that certain unusual or infrequently occurring items, as well as adjustments due to enactment of new tax laws, be excluded from the estimated annual effective tax rate calculation.
Excise Taxes	Excise Taxes The Company pays certain fees or taxes which are either considered to be an excise tax or similar to an excise tax. Substantially all of these taxes are recorded on a net basis in the Consolidated Statements of Earnings.
New Accounting Pronouncements	New Accounting Pronouncements Information concerning recently issued accounting pronouncements that have not been adopted by the Company is presented below. Accounting Standards Update 2014-09 – Revenue from Contracts with Customers (Topic 606) On May 28, 2014, the FASB issued ASU No. 2014-09. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard will replace most existing revenue recognition guidance in GAAP when it becomes effective. On August 12, 2015, the FASB issued a one-year deferral in the effective date. The Company must now adopt the new standard beginning on January 1, 2018. Early adoption would be permitted beginning January 1, 2017. The standard permits the use of either the retrospective or cumulative effect transition method. The Company has not yet selected a transition method although it is unlikely the Company would elect to early adopt the new standard. The Company is analyzing the impacts this new standard will have on its consolidated financial statements and related disclosures, but has not determined the effect of the standard on its ongoing financial reporting. Accounting Standards Update 2014-15 – Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern On August 27, 2014, the FASB issued ASU No. 2014-15, which requires management to evaluate whether there is substantial doubt about a company’s ability to continue as a going concern in connection with the preparation of financial statements for each annual and interim reporting period. Disclosure requirements associated with management’s evaluation are also outlined in the new guidance. The new standard is effective for the Company for reporting periods ending after December 15, 2016, with early adoption permitted. The Company is in the process of analyzing the impacts of this new standard. Accounting Standards Update 2016-01 – Financial Instruments (Subtopic 825-10) – Recognition and Measurement of Financial Assets and Financial Liabilities On January 5, 2016, the FASB issued ASU No. 2016-01, which makes targeted improvements to GAAP regarding financial instruments. The new standard eliminates the requirement to classify investments in equity securities with readily determinable fair values into trading or available-for-sale categories and now requires those equity securities to be measured at fair value with changes in fair value recognized in net income rather than in OCI. The new standard also revises certain presentation and disclosure requirements. Under the new standard, accounting for investments in debt securities remains essentially unchanged. The new standard will be effective for the Company beginning on January 1, 2018. Early adoption of the standard is permitted. The Company is in the process of analyzing the impacts of this new standard. Accounting Standards Update 2016-02 – Leases (Topic 842) On February 25, 2016, the FASB issued ASU No. 2016-02, which will change how lessees account for leases. The ASU will require that a liability be recorded on the balance sheet for all leases based on the present value of future lease obligations. A corresponding right-of-use asset will also be recorded. Amortization of the lease obligation and the right-of-use asset for certain leases, primarily those currently classified as operating leases, will be on a straight-line basis, which is not expected to have a significant impact on the statements of earnings or cash flows, whereas other leases will be required to be accounted for as financing arrangements similar to the accounting treatment for capital leases under current GAAP. The new standard also revises certain disclosure requirements. The new standard will be effective for the Company beginning on January 1, 2019. Early adoption of the standard is permitted. At adoption of the ASU, leases will be recognized and measured as of the earliest period presented using a modified retrospective approach. Since this ASU was only recently issued, the Company has not yet begun the process of analyzing the impacts of this new standard.
Segment Information	The following segment presentation is based on the methodology that management uses for making operating decisions and assessing performance of its various business activities. A reconciliation of the segment presentation to the GAAP financial statements is provided.
Fair Value of Derivatives	The Company determines the fair values of its derivative and other financial instruments based on the hierarchy established in GAAP, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. GAAP describes three levels of inputs that may be used to measure fair value. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. Level 3 inputs used in determining fair values for the Company consist of internal valuation models. The Company records any transfers between fair value hierarchy levels as of the end of each calendar quarter. There were no transfers between levels during the years ended December 31, 2015 and 2014 . For available-for-sale securities, Level 2 fair values are provided by the trustee utilizing a pricing service. The pricing provider predominantly uses the market approach using bid side market value based upon a hierarchy of information for specific securities or securities with similar characteristics. For commodity derivatives, Level 2 fair values are determined based on market observable inputs, which are validated using multiple broker quotes, including forward price, volatility, and interest rate curves to establish expectations of future prices. Credit valuation adjustments are made for estimated credit losses based on the overall exposure to each counterparty. For the Company’s long-term debt, Level 2 fair values are provided by an external pricing service. The pricing service primarily utilizes quoted prices for similar debt in active markets when determining fair value. For investments categorized as Level 3, primarily the PVNGS lessor notes and certain items in other investments, fair values were determined by discounted cash flow models that take into consideration discount rates that are observable for similar types of assets and liabilities. Management of the Company independently verifies the information provided by pricing services.
Variable Interest Entities	GAAP determines how an enterprise evaluates and accounts for its involvement with variable interest entities, focusing primarily on whether the enterprise has the power to direct the activities that most significantly impact the economic performance of a variable interest entity (“VIE”). GAAP also requires continual reassessment of the primary beneficiary of a variable interest entity.
Pension and Other Postretirement Benefits	The expected long-term rate of return on pension and postretirement plan assets is calculated on the market-related value of assets. GAAP requires that actual gains and losses on pension and postretirement plan assets be recognized in the market-related value of assets equally over a period of not more than five years, which reduces year-to-year volatility. GAAP requires a plan sponsor to (a) recognize in its statement of financial position an asset for a plan’s overfunded status or a liability for a plan’s underfunded status; (b) measure a plan’s assets and its obligations that determine its funded status as of the end of the employer’s fiscal year; and (c) recognize changes in the funded status of a defined benefit postretirement plan in the year in which the changes occur. GAAP requires unrecognized prior service costs and unrecognized gains or losses to be recorded in AOCI and subsequently amortized. The amortization of these incurred costs is included as pension and postretirement benefit periodic cost or income in subsequent years. To the extent the amortization of these items will ultimately be recovered or returned through future rates, PNM and TNMP record the costs as a regulatory asset or regulatory liability.
Commitments and Contingencies	There are various claims and lawsuits pending against the Company. The Company also is subject to federal, state, and local environmental laws and regulations and periodically participates in the investigation and remediation of various sites. In addition, the Company periodically enters into financial commitments in connection with its business operations. Also, the Company is involved in various legal and regulatory (Note 17) proceedings in the normal course of its business. It is not possible at this time for the Company to determine fully the effect of all litigation and other legal and regulatory proceedings on its financial position, results of operations, or cash flows. With respect to some of the items listed below, the Company has determined that a loss is not probable or that, to the extent probable, cannot be reasonably estimated. In some cases, the Company is not able to predict with any degree of certainty the range of possible loss that could be incurred. Nevertheless, the Company assesses legal and regulatory matters based on current information and makes judgments concerning their potential outcome, giving due consideration to the nature of the claim, the amount and nature of any damages sought, and the probability of success. Such judgments are made with the understanding that the outcome of any litigation, investigation, and other legal proceeding is inherently uncertain. In accordance with GAAP, the Company records liabilities for matters where it is probable a loss has been incurred and the amount of loss is reasonably estimable. The actual outcomes of the items listed below could ultimately differ from the judgments made and the differences could be material. The Company cannot make any assurances that the amount of reserves or potential insurance coverage will be sufficient to cover the cash obligations that might be incurred as a result of litigation or regulatory proceedings. Except as otherwise disclosed, the Company does not expect that any known lawsuits, environmental costs, and commitments will have a material effect on its financial condition, results of operations, or cash flows.

Summary of the Business and S32

Summary of the Business and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of Average Rates Used Allocated Between Depreciation Expense and Construction Expense Projects Based on Use of Equipment	Average straight-line rates used were as follows: Year ended December 31 2015 2014 2013 PNM Electric plant 2.27 % 2.26 % 2.27 % Common, intangible, and general plant 4.66 % 4.64 % 4.87 % TNMP 3.94 % 3.59 % 3.66 %
Schedule of Inventory	Inventories consisted of the following at December 31 : PNMR PNM TNMP 2015 2014 2015 2014 2015 2014 (In thousands) Coal $ 18,356 $ 17,525 $ 18,356 $ 17,525 $ — $ — Materials and supplies 49,030 46,103 42,121 43,334 6,909 2,769 $ 67,386 $ 63,628 $ 60,477 $ 60,859 $ 6,909 $ 2,769

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Summary of Segments	PNMR SEGMENT INFORMATION 2015 PNM TNMP Corporate and Other Consolidated (In thousands) Electric operating revenues $ 1,131,195 $ 307,887 $ — $ 1,439,082 Cost of energy 391,131 73,518 — 464,649 Margin 740,064 234,369 — 974,433 Other operating expenses 590,967 88,051 (14,854 ) 664,164 Depreciation and amortization 115,717 56,285 13,917 185,919 Operating income 33,380 90,033 937 124,350 Interest income 6,574 — (76 ) 6,498 Other income (deductions) 26,914 3,736 (485 ) 30,165 Interest charges (79,950 ) (27,681 ) (7,229 ) (114,860 ) Segment earnings (loss) before income taxes (13,082 ) 66,088 (6,853 ) 46,153 Income taxes (benefit) (12,758 ) 24,125 3,708 15,075 Segment earnings (loss) (324 ) 41,963 (10,561 ) 31,078 Valencia non-controlling interest (14,910 ) — — (14,910 ) Subsidiary preferred stock dividends (528 ) — — (528 ) Segment earnings (loss) attributable to PNMR $ (15,762 ) $ 41,963 $ (10,561 ) $ 15,640 At December 31, 2015: Total Assets $ 4,599,344 $ 1,297,139 $ 112,845 $ 6,009,328 Goodwill $ 51,632 $ 226,665 $ — $ 278,297 2014 PNM TNMP Corporate and Other Consolidated Electric operating revenues $ 1,147,914 $ 287,939 $ — $ 1,435,853 Cost of energy 403,626 67,930 — 471,556 Margin 744,288 220,009 — 964,297 Other operating expenses 422,051 84,365 (14,450 ) 491,966 Depreciation and amortization 109,524 50,056 13,054 172,634 Operating income 212,713 85,588 1,396 299,697 Interest income 8,557 — (74 ) 8,483 Other income (deductions) 12,258 2,138 (2,302 ) 12,094 Interest charges (79,442 ) (27,396 ) (12,789 ) (119,627 ) Segment earnings (loss) before income taxes 154,086 60,330 (13,769 ) 200,647 Income taxes (benefit) 52,633 22,523 (5,418 ) 69,738 Segment earnings (loss) 101,453 37,807 (8,351 ) 130,909 Valencia non-controlling interest (14,127 ) — — (14,127 ) Subsidiary preferred stock dividends (528 ) — — (528 ) Segment earnings (loss) attributable to PNMR $ 86,798 $ 37,807 $ (8,351 ) $ 116,254 At December 31, 2014: Total Assets $ 4,453,114 $ 1,229,417 $ 107,706 $ 5,790,237 Goodwill $ 51,632 $ 226,665 $ — $ 278,297 2013 PNM TNMP Corporate and Other Consolidated Electric operating revenues $ 1,116,312 $ 271,611 $ — $ 1,387,923 Cost of energy 374,710 57,606 — 432,316 Margin 741,602 214,005 — 955,607 Other operating expenses 428,591 91,601 (18,308 ) 501,884 Depreciation and amortization 103,826 50,219 12,836 166,881 Operating income 209,185 72,185 5,472 286,842 Interest income 10,182 — (139 ) 10,043 Other income (deductions) 11,288 1,919 (13,575 ) (368 ) Interest charges (79,175 ) (27,393 ) (14,880 ) (121,448 ) Segment earnings (loss) before income taxes 151,480 46,711 (23,122 ) 175,069 Income taxes (benefit) 48,804 17,621 (6,912 ) 59,513 Segment earnings (loss) 102,676 29,090 (16,210 ) 115,556 Valencia non-controlling interest (14,521 ) — — (14,521 ) Subsidiary preferred stock dividends (528 ) — — (528 ) Segment earnings (loss) attributable to PNMR $ 87,627 $ 29,090 $ (16,210 ) $ 100,507 At December 31, 2013: Total Assets $ 4,174,261 $ 1,151,327 $ 101,270 $ 5,426,858 Goodwill $ 51,632 $ 226,665 $ — $ 278,297

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The table below summarizes the nature and amount of related party transactions of PNMR, PNM and TNMP: Year Ended December 31, 2015 2014 2013 (In thousands) Services billings: PNMR to PNM $ 90,827 $ 86,871 $ 92,597 PNMR to TNMP 28,109 28,349 28,937 PNM to TNMP 554 524 562 TNMP to PNMR 41 31 7 Income tax sharing payments: PNMR to TNMP — — — PNMR to PNM 1,450 — 77,433 TNMP to PNMR — — 3,643 Interest payments: PNM to PNMR 54 65 4 TNMP to PNMR 276 309 481

Regulatory Assets and Liabili35

Regulatory Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Regulated Operations [Abstract]
Schedule of Regulatory Assets and Liabilities	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 )

Financing (Tables)

Financing (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Short-term debt outstanding consists of: December 31, Short-term Debt 2015 2014 (In thousands) PNM: PNM Revolving Credit Facility $ — $ — PNM New Mexico Credit Facility — — TNMP Revolving Credit Facility 59,000 5,000 PNMR PNMR Revolving Credit Facility 41,600 600 PNMR Term Loan Agreement 150,000 100,000 $ 250,600 $ 105,600
Schedule of Long-term Debt Outstanding	Information concerning long-term debt outstanding and unamortized (premiums), discounts, and debt issuance costs is as follows: December 31, 2015 December 31, 2014 Principal Unamortized Discounts, (Premiums), and Issuance Costs, net Principal Unamortized Discounts, (Premiums), and Issuance Costs, net (In thousands) PNM Debt Senior Unsecured Notes, Pollution Control Revenue Bonds: 4.875% due 2033 $ 146,000 $ 721 $ 146,000 $ 807 6.25% due 2038 36,000 251 36,000 262 4.75% due 2040, mandatory tender at June 1, 2017 37,000 82 37,000 138 5.20% due 2040, mandatory tender at June 1, 2020 40,045 190 40,045 233 5.90% due 2040 255,000 2,222 255,000 2,313 6.25% due 2040 11,500 100 11,500 104 2.54% due 2042, mandatory tender at June 1, 2017 20,000 199 20,000 331 4.00% due 2043, mandatory tender at June 1, 2015 — — 39,300 36 2.40% due 2043, mandatory tender at June 1, 2020 39,300 456 — — 5.20% due 2043, mandatory tender at June 1, 2020 21,000 96 21,000 118 Senior Unsecured Notes: 7.95% due 2018 350,000 1,718 350,000 2,441 7.50% due 2018 100,025 320 100,025 444 5.35% due 2021 160,000 943 160,000 1,106 3.85% due 2025 250,000 2,874 — — PNM Term Loan Agreement due 2015 — — 175,000 — PNM Multi-draw Term Loan due 2016 125,000 21 100,000 — 1,590,870 10,193 1,490,870 8,333 Less current maturities 125,000 21 214,300 36 1,465,870 10,172 1,276,570 8,297 TNMP Debt First Mortgage Bonds: 9.50% due 2019, Series 2009A 172,302 2,682 172,302 3,508 6.95% due 2043, Series 2013A 93,198 (19,490 ) 93,198 (20,208 ) 4.03% due 2024, Series 2014A 80,000 897 80,000 959 345,500 (15,911 ) 345,500 (15,741 ) Less current maturities — — — — 345,500 (15,911 ) 345,500 (15,741 ) PNMR Debt PNMR 2015 Term Loan Agreement due 2018 150,000 140 — — Senior unsecured notes, 9.25% due 2015 — — 118,766 159 150,000 140 118,766 159 Less current maturities — — 118,766 159 150,000 140 — — Total Consolidated PNMR Debt 2,086,370 (5,578 ) 1,955,136 (7,249 ) Less current maturities 125,000 21 333,066 195 $ 1,961,370 $ (5,599 ) $ 1,622,070 $ (7,444 )
Schedule of Maturities of Long-term Debt	Reflecting mandatory tender dates, long-term debt matures as follows: PNMR PNM TNMP PNMR Consolidated (In thousands) 2016 $ — $ 125,000 $ — $ 125,000 2017 — 57,000 — 57,000 2018 150,000 450,025 — 600,025 2019 — — 172,302 172,302 2020 — 100,345 — 100,345 Thereafter — 858,500 173,198 1,031,698 Total $ 150,000 $ 1,590,870 $ 345,500 $ 2,086,370

Lease Commitments (Tables)

Lease Commitments (Tables)	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Schedule of Rent Expense	Operating lease expense, including the PVNGS and EIP leases, was: PNMR PNM TNMP (In thousands) 2015 $ 68,652 $ 63,558 $ 3,688 2014 $ 82,756 $ 76,745 $ 3,932 2013 $ 82,882 $ 78,306 $ 2,663
Schedule of Future Minimum Operating Lease Payments	Future minimum operating lease payments at December 31, 2015 shown below have been reduced by payments on the PVNGS lessor notes of $9.0 million in 2016 returned in cash to PNM: PNMR PNM TNMP (In thousands) 2016 $ 29,825 $ 28,496 $ 1,062 2017 26,071 25,413 379 2018 25,240 24,945 15 2019 25,190 24,902 — 2020 25,197 24,902 — Later years 108,990 108,990 — Total minimum lease payments $ 240,513 $ 237,648 $ 1,456

Fair Value of Derivative and 38

Fair Value of Derivative and Other Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value of Derivative and Other Financial Instruments [Abstract]
Schedule of Commodity Derivatives	Commodity derivative instruments that are recorded at fair value, all of which are accounted for as economic hedges, are summarized as follows: Economic Hedges December 31, 2015 2014 (In thousands) PNM and PNMR Current assets $ 3,813 $ 11,232 Deferred charges 2,622 — 6,435 11,232 Current liabilities (1,859 ) (1,209 ) Long-term liabilities — (477 ) (1,859 ) (1,686 ) Net $ 4,576 $ 9,546
Summary of the Effect of Mark-to-Market Commodity Derivative Instruments on Earnings	The following table presents the effect of mark-to-market commodity derivative instruments on earnings, excluding income tax effects. Commodity derivatives had no impact on OCI for the periods presented. Economic Hedges Year Ended 2015 2014 2013 (In thousands) PNMR and PNM Electric operating revenues $ 7,156 $ 4,491 $ 1,727 Cost of energy (293 ) 593 1,109 Total gain $ 6,863 $ 5,084 $ 2,836
Schedule of Net Buy (Sell) Volume Positions	The table below presents PNMR’s and PNM’s net buy (sell) volume positions: Economic Hedges MMBTU MWh December 31, 2015 PNMR and PNM 577,481 (3,405,843 ) December 31, 2014 PNMR and PNM 650,000 (1,919,000 )
Schedule of Collateral Related to Derivative	The table below presents information about the Company’s contingent requirements to provide collateral under commodity contracts having an objectively determinable collateral provision that are in net liability positions and are not fully collateralized with cash. Contractual liability represents commodity derivative contracts recorded at fair value on the balance sheet, determined on an individual contract basis without offsetting amounts for individual contracts that are in an asset position and could be offset under master netting agreements with the same counterparty. The table only reflects cash collateral that has been posted under the existing contracts and does not reflect letters of credit under the Company’s revolving credit facilities that have been issued as collateral. Net exposure is the net contractual liability for all contracts, including those designated as normal purchases and normal sales, offset by existing cash collateral and by any offsets available under master netting agreements, including both asset and liability positions. Contingent Feature – Credit Rating Downgrade Contractual Liability Existing Cash Collateral Net Exposure (In thousands) December 31, 2015 PNMR and PNM $ 839 $ — $ 839 December 31, 2014 PNMR and PNM $ 1,686 $ — $ 167
Schedule of Fair Value and Unrealized Gains of Available-for-sale Securities	The fair value and gross unrealized gains of investments in available-for-sale securities are presented in the following table. December 31, 2015 December 31, 2014 Unrealized Gains Fair Value Unrealized Gains Fair Value PNMR and PNM (In thousands) Cash and cash equivalents $ — $ 10,700 $ — $ 8,276 Equity securities: Domestic value 11,610 44,505 17,418 45,340 Domestic growth 11,163 61,078 21,354 74,053 International and other 1,569 27,961 156 16,599 Fixed income securities: U.S. Government 178 27,880 903 22,563 Municipals 3,672 58,576 5,851 68,973 Corporate and other 628 28,342 666 14,341 $ 28,820 $ 259,042 $ 46,348 $ 250,145
Schedule of Realized Gain (Loss)	Gross realized losses shown below exclude the change in realized impairment losses of $(4.3) million , $(0.7) million , and $0.6 million for the years ended December 31, 2015, 2014 and 2013. Year Ended December 31, 2015 2014 2013 (In thousands) Proceeds from sales $ 252,174 $ 117,989 $ 271,140 Gross realized gains $ 29,663 $ 15,162 $ 14,308 Gross realized (losses) $ (9,259 ) $ (3,964 ) $ (4,298 )
Investments Classified by Contractual Maturity Date	At December 31, 2015 , the available-for-sale and held-to-maturity debt securities had the following final maturities: Fair Value Available-for-Sale Held-to-Maturity PNMR and PNM PNMR PNM (In thousands) Within 1 year $ 3,858 $ 8,947 $ 8,947 After 1 year through 5 years 24,136 665 — After 5 years through 10 years 26,401 — — After 10 years through 15 years 10,843 — — After 15 years through 20 years 10,815 — — After 20 years 38,745 — — $ 114,798 $ 9,612 $ 8,947
Schedule of Instruments Presented by Level of Hierarchy	Items recorded at fair value on the Consolidated Balance Sheets are presented below by level of the fair value hierarchy. There were no Level 3 fair value measurements at December 31, 2015 and 2014 for items recorded at fair value. GAAP Fair Value Hierarchy Total Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs December 31, 2015 (In thousands) PNMR and PNM Available-for-sale securities Cash and cash equivalents $ 10,700 $ 10,700 $ — Equity securities: Domestic value 44,505 44,505 — Domestic growth 61,078 61,078 — International and other 27,961 27,961 — Fixed income securities: U.S. Government 27,880 26,608 1,272 Municipals 58,576 — 58,576 Corporate and other 28,342 6,500 21,842 $ 259,042 $ 177,352 $ 81,690 Commodity derivative assets $ 6,435 $ — $ 6,435 Commodity derivative liabilities (1,859 ) — (1,859 ) Net $ 4,576 $ — $ 4,576 GAAP Fair Value Hierarchy Total Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs December 31, 2014 (In thousands) PNMR and PNM Available-for-sale securities Cash and cash equivalents $ 8,276 $ 8,276 $ — Equity securities: Domestic value 45,340 45,340 — Domestic growth 74,053 74,053 — International and other 16,599 16,599 — Fixed income securities: U.S. Government 22,563 20,808 1,755 Municipals 68,973 — 68,973 Corporate and other 14,341 4,843 9,498 $ 250,145 $ 169,919 $ 80,226 Commodity derivative assets $ 11,232 $ — $ 11,232 Commodity derivative liabilities (1,686 ) — (1,686 ) Net $ 9,546 $ — $ 9,546
Summary of Carrying Amounts and Fair Value of Instruments	The carrying amounts and fair values of investments in PVNGS lessor notes, other investments, and long-term debt, which are not recorded at fair value on the Consolidated Balance Sheets, are presented below: GAAP Fair Value Hierarchy Carrying Amount Fair Value Level 1 Level 2 Level 3 December 31, 2015 (In thousands) PNMR Long-term debt $ 2,091,948 $ 2,264,869 $ — $ 2,264,869 $ — Investment in PVNGS lessor notes $ 8,587 $ 8,947 $ — $ — $ 8,947 Other investments $ 604 $ 1,269 $ 604 $ — $ 665 PNM Long-term debt $ 1,580,677 $ 1,703,209 $ — $ 1,703,209 $ — Investment in PVNGS lessor notes $ 8,587 $ 8,947 $ — $ — $ 8,947 Other investments $ 366 $ 366 $ 366 $ — $ — TNMP Long-term debt $ 361,411 $ 411,661 $ — $ 411,661 $ — Other investments $ 238 $ 238 $ 238 $ — $ — December 31, 2014 PNMR Long-term debt $ 1,962,385 (1) $ 2,173,117 $ — $ 2,173,117 $ — Investment in PVNGS lessor notes $ 31,232 $ 32,836 $ — $ — $ 32,836 Other investments $ 1,762 $ 2,375 $ 639 $ — $ 1,736 PNM Long-term debt $ 1,482,537 (1) $ 1,624,222 $ — $ 1,624,222 $ — Investment in PVNGS lessor notes $ 31,232 $ 32,836 $ — $ — $ 32,836 Other investments $ 397 $ 397 $ 397 $ — $ — TNMP Long-term debt $ 361,241 (1) $ 427,356 $ — $ 427,356 $ — Other investments $ 242 $ 242 $ 242 $ — $ —
Schedule of Investments Held by the Employee Benefit Plans	The fair values of investments held by the employee benefit plans are as follows: GAAP Fair Value Hierarchy Total Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2015 (In thousands) PNM Pension Plan Participation in PNMR Master Trust Investments: Investments categorized within fair value hierarchy $ 479,858 $ 111,441 $ 367,698 $ 719 Uncategorized investments 78,461 Total Master Trust Investments $ 558,319 TNMP Pension Plan Participation in PNMR Master Trust Investments: Investments categorized within fair value hierarchy $ 52,163 $ 12,199 $ 39,886 $ 78 Uncategorized investments 9,968 Total Master Trust Investments $ 62,131 PNM OPEB Plan Cash and cash equivalents $ 1,512 $ 1,512 $ — $ — Equity securities: International funds 10,604 — 10,604 — Domestic value 9,367 9,367 — — Domestic growth 5,894 5,894 — — Other funds 28,419 — 28,419 — Fixed income securities: Mutual funds 18,343 18,343 — — $ 74,139 $ 35,116 $ 39,023 $ — TNMP OPEB Plan Cash and cash equivalents $ 128 $ 128 $ — $ — Equity securities: International funds 1,310 — 1,310 — Domestic value 367 367 — — Domestic growth 1,013 1,013 — — Other funds 3,397 — 3,397 — Fixed income securities: Mutual funds 3,075 3,075 — — $ 9,290 $ 4,583 $ 4,707 $ — GAAP Fair Value Hierarchy Total Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2014 (In thousands) PNM Pension Plan Participation in PNMR Master Trust Investments: Investments categorized within fair value hierarchy $ 523,142 $ 123,668 $ 398,819 $ 655 Uncategorized investments 64,970 Total Master Trust Investments $ 588,112 TNMP Pension Plan Participation in PNMR Master Trust Investments: Investments categorized within fair value hierarchy $ 59,320 $ 14,823 $ 44,425 $ 72 Uncategorized investments 9,887 Total Master Trust Investments $ 69,207 PNM OPEB Plan Cash and cash equivalents $ 1,242 $ 1,242 $ — $ — Equity securities: International funds 10,332 — 10,332 — Domestic value 8,365 8,365 — — Domestic growth 5,960 5,960 — — Other funds 30,997 — 30,997 — Fixed income securities: Mutual funds 22,122 22,122 — — $ 79,018 $ 37,689 $ 41,329 $ — TNMP OPEB Plan Cash and cash equivalents $ 168 $ 168 $ — $ — Equity securities: International funds 1,277 — 1,277 — Domestic value 403 403 — — Domestic growth 1,024 1,024 — — Other funds 3,790 — 3,790 — Fixed income securities: Mutual funds 3,549 3,549 — — $ 10,211 $ 5,144 $ 5,067 $ — The fair values of investments in the PNMR Master Trust are as follows: GAAP Fair Value Hierarchy Total Quoted Prices in Active Market for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2015 (In thousands) PNMR Master Trust Cash and cash equivalents $ 14,525 $ 14,525 $ — $ — Equity securities: International 36,675 — 36,675 — Domestic value 34,769 34,769 — — Domestic growth 25,407 25,407 — — Other funds 30,531 — 30,531 — Fixed income securities: Corporate 214,218 — 213,421 797 U.S. Government 98,138 48,936 49,202 — Municipals 16,647 — 16,647 — Other funds 61,111 3 61,108 — Total investments categorized within fair value hierarchy 532,021 $ 123,640 $ 407,584 $ 797 Uncategorized investments: Private equity funds 32,333 Hedge funds 40,731 Real estate funds 15,365 $ 620,450 December 31, 2014 PNMR Master Trust Cash and cash equivalents $ 15,645 $ 15,645 $ — $ — Equity securities: International 23,282 — 23,282 — Domestic value 41,778 41,778 — — Domestic growth 28,370 28,370 — — Other funds 29,719 — 29,719 — Fixed income securities: Corporate 242,742 — 242,015 727 U.S. Government 106,634 52,537 54,097 — Municipals 20,156 — 20,156 — Other funds 74,136 161 73,975 — Total investments categorized within fair value hierarchy 582,462 $ 138,491 $ 443,244 $ 727 Uncategorized investments: Private equity funds 37,220 Hedge funds 23,876 Real estate funds 13,761 $ 657,319
Summary of Level 3 Measurements	A reconciliation of the changes in Level 3 fair value measurements is as follows: Fixed Income - Corporate PNMR Master Trust PNM Pension TNMP Pension Total Master Trust (In thousands) Balance at December 31, 2013 $ 160 $ 16 $ 176 Actual return on assets sold during the period — — — Actual return on assets still held at period end (18 ) (2 ) (20 ) Purchases 546 62 608 Sales (33 ) (4 ) (37 ) Balance at December 31, 2014 655 72 727 Actual return on assets sold during the period — — — Actual return on assets still held at period end (1 ) — (1 ) Purchases 177 17 194 Sales (112 ) (11 ) (123 ) Balance at December 31, 2015 $ 719 $ 78 $ 797

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2015
Variable Interest Entities [Abstract]
Summarized Financial Information for Noncontrolling Interest	Summarized financial information for Valencia is as follows: Results of Operations Year Ended December 31, 2015 2014 2013 (In thousands) Operating revenues $ 20,687 $ 20,247 $ 20,166 Operating expenses (5,777 ) (6,120 ) (5,645 ) Earnings attributable to non-controlling interest $ 14,910 $ 14,127 $ 14,521 Financial Position December 31, 2015 2014 (In thousands) Current assets $ 2,588 $ 2,513 Net property, plant and equipment 69,784 72,321 Total assets 72,372 74,834 Current liabilities 965 1,288 Owners’ equity – non-controlling interest $ 71,407 $ 73,546

Earnings and Dividends Per Sh40

Earnings and Dividends Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Computation of Earnings per Share and Dividends per Share, Basic and Diluted	Information regarding the computation of earnings per share and dividends per share is as follows: Year Ended December 31, 2015 2014 2013 (In thousands, except per share amounts) Earnings Attributable to PNMR $ 15,640 $ 116,254 $ 100,507 Average Number of Common Shares: Outstanding during year 79,654 79,654 79,654 Vested awards of restricted stock 105 134 191 Average Shares – Basic 79,759 79,788 79,845 Dilutive Effect of Common Stock Equivalents (1) : Stock options and restricted stock 380 491 586 Average Shares – Diluted 80,139 80,279 80,431 Net Earnings Per Share of Common Stock: Basic $ 0.20 $ 1.46 $ 1.26 Diluted $ 0.20 $ 1.45 $ 1.25 Dividends Declared per Common Share $ 0.820 $ 0.755 $ 0.680 (1) Excludes out-of-the-money options for 2,100 shares of common stock at December 31, 2015 . See Note 13.

Income Taxes (Tables)

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

Pension and Other Postretirem42

Pension and Other Postretirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Schedule of Defined Benefit Plans Disclosures	A reconciliation of the changes in Level 3 fair value measurements is as follows: Fixed Income - Corporate PNMR Master Trust PNM Pension TNMP Pension Total Master Trust (In thousands) Balance at December 31, 2013 $ 160 $ 16 $ 176 Actual return on assets sold during the period — — — Actual return on assets still held at period end (18 ) (2 ) (20 ) Purchases 546 62 608 Sales (33 ) (4 ) (37 ) Balance at December 31, 2014 655 72 727 Actual return on assets sold during the period — — — Actual return on assets still held at period end (1 ) — (1 ) Purchases 177 17 194 Sales (112 ) (11 ) (123 ) Balance at December 31, 2015 $ 719 $ 78 $ 797
Schedule of Health Care Cost Trend Rates	The following table shows the assumed health care cost trend rates for the PNM postretirement benefit plan: PNM Plan December 31, 2015 2014 Health care cost trend rate assumed for next year 7.0 % 7.0 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 5.0 % 5.0 % Year that the rate reaches the ultimate trend rate 2024 2023
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates	The following table shows the impact of a one-percentage-point change in assumed health care cost trend rates: PNM Plan 1-Percentage- Point Increase 1-Percentage- Point Decrease (In thousands) Effect on total of service and interest cost $ 273 $ (235 ) Effect on APBO $ 4,370 $ (3,840 )
Schedule of Net Funded Status	For the executive retirement programs, the following table presents information about the PBO and funded status of the plans: PNM Plan TNMP Plan Year Ended Year Ended 2015 2014 2015 2014 (In thousands) PBO at beginning of year $ 17,730 $ 16,363 $ 878 $ 823 Service cost — — — — Interest cost 760 822 36 39 Actuarial (gain) loss (908 ) 2,040 (26 ) 110 Benefits paid (1,477 ) (1,495 ) (94 ) (94 ) PBO at end of year – funded status 16,105 17,730 794 878 Less current liability 1,519 1,528 93 94 Non-current liability $ 14,586 $ 16,202 $ 701 $ 784
Summary of Expenses for Other Retirement Plans	A summary of expenses for these other retirement plans is as follows: Year Ended December 31, 2015 2014 2013 (In thousands) PNMR 401(k) plan $ 16,725 $ 16,703 $ 16,785 Non-qualified plan $ 1,436 $ 2,257 $ 2,204 PNM 401(k) plan $ 12,679 $ 12,745 $ 12,952 Non-qualified plan $ 1,090 $ 1,722 $ 1,691 TNMP 401(k) plan $ 4,046 $ 3,958 $ 3,953 Non-qualified plan $ 346 $ 535 $ 513
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Schedule of Defined Benefit Plans Disclosures	The following table presents information about the PBO, fair value of plan assets, and funded status of the plans: PNM Plan TNMP Plan Year Ended December 31, Year Ended December 31, 2015 2014 2015 2014 (In thousands) PBO at beginning of year $ 657,557 $ 599,537 $ 72,305 $ 66,159 Service cost — — — — Interest cost 28,255 30,163 3,043 3,193 Actuarial (gain) loss (38,151 ) 72,524 (5,157 ) 8,466 Benefits paid (49,761 ) (44,667 ) (5,993 ) (5,513 ) PBO at end of year 597,900 657,557 64,198 72,305 Fair value of plan assets at beginning of year 587,909 556,353 69,177 66,118 Actual return on plan assets (10,225 ) 76,223 (1,102 ) 8,572 Employer contributions 30,000 — — — Benefits paid (49,761 ) (44,667 ) (5,993 ) (5,513 ) Fair value of plan assets at end of year 557,923 587,909 62,082 69,177 Funded status – asset (liability) for pension benefits $ (39,977 ) $ (69,648 ) $ (2,116 ) $ (3,128 )
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year	The following table presents pre-tax information about prior service cost and net actuarial (gain) loss in AOCI as of December 31, 2015 . PNM Plan TNMP Plan December 31, 2015 December 31, 2015 Prior service cost Net actuarial (gain) loss Net actuarial (gain) loss (In thousands) Amounts in AOCI not yet recognized in net periodic benefit cost (income) at beginning of year $ (2,260 ) $ 148,212 $ — Experience loss (gain) — 11,397 365 Regulatory asset (liability) adjustment — (6,610 ) (365 ) Amortization recognized in net periodic benefit cost (income) 405 (6,224 ) — Amounts in AOCI not yet recognized in net periodic benefit cost (income) at end of year $ (1,855 ) $ 146,775 $ — Amortization expected to be recognized in 2016 $ (405 ) $ 5,399 $ —
Schedule of Net Benefit Costs	The following table presents the components of net periodic benefit cost (income): Year Ended December 31, 2015 2014 2013 (In thousands) PNM Plan Service cost $ — $ — $ — Interest cost 28,255 30,163 28,142 Expected return on plan assets (39,323 ) (38,044 ) (41,930 ) Amortization of net (gain) loss 14,820 13,020 14,840 Amortization of prior service cost (965 ) (965 ) 76 Net periodic benefit cost $ 2,787 $ 4,174 $ 1,128 TNMP Plan Service cost $ — $ — $ — Interest cost 3,043 3,193 3,087 Expected return on plan assets (4,420 ) (4,526 ) (4,849 ) Amortization of net (gain) loss 782 665 1,049 Amortization of prior service cost — — — Net periodic benefit cost (income) $ (595 ) $ (668 ) $ (713 )
Schedule of Assumptions Used	The following significant weighted-average assumptions were used to determine the PBO and net periodic benefit cost (income). Should actual experience differ from actuarial assumptions, the PBO and net periodic benefit cost (income) would be affected. Year Ended December 31, PNM Plan 2015 2014 2013 Discount rate for determining December 31 PBO 5.29 % 4.48 % 5.27 % Discount rate for determining net periodic benefit cost (income) 4.48 % 5.27 % 4.30 % Expected return on plan assets 6.80 % 7.20 % 7.65 % Rate of compensation increase N/A N/A N/A TNMP Plan Discount rate for determining December 31 PBO 5.39 % 4.39 % 5.06 % Discount rate for determining net periodic benefit cost (income) 4.39 % 5.06 % 4.19 % Expected return on plan assets 6.80 % 7.20 % 7.65 % Rate of compensation increase N/A N/A N/A
Schedule of Expected Benefit Payments	The following pension benefit payments are expected to be paid: PNM Plan TNMP Plan (In thousands) 2016 $ 49,963 $ 5,800 2017 49,681 5,416 2018 48,209 5,697 2019 47,476 5,218 2020 46,474 4,955 2021 – 2025 213,810 23,401
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Schedule of Defined Benefit Plans Disclosures	The following table presents information about the APBO, the fair value of plan assets, and the funded status of the plans: PNM Plan TNMP Plan Year Ended December 31, Year Ended December 31, 2015 2014 2015 2014 (In thousands) APBO at beginning of year $ 95,175 $ 92,165 $ 14,070 $ 12,266 Service cost 204 181 247 237 Interest cost 4,089 4,630 608 619 Participant contributions 2,439 2,582 320 366 Actuarial (gain) loss (6,565 ) 4,455 (575 ) 1,639 Benefits paid (10,668 ) (8,838 ) (1,564 ) (1,057 ) APBO at end of year 84,674 95,175 13,106 14,070 Fair value of plan assets at beginning of year 78,175 73,565 10,094 9,601 Actual return on plan assets (617 ) 7,334 (82 ) 841 Employer contributions 3,623 3,532 343 343 Participant contributions 2,439 2,582 320 366 Benefits paid (10,668 ) (8,838 ) (1,564 ) (1,057 ) Fair value of plan assets at end of year 72,952 78,175 9,111 10,094 Funded status – asset (liability) $ (11,722 ) $ (17,000 ) $ (3,995 ) $ (3,976 )
Schedule of Net Benefit Costs	The following table presents the components of net periodic benefit cost: Year Ended December 31, 2015 2014 2013 (In thousands) PNM Plan Service cost $ 204 $ 181 $ 260 Interest cost 4,089 4,630 4,113 Expected return on plan assets (5,610 ) (5,638 ) (5,043 ) Amortization of net (gain) loss 1,966 2,225 4,242 Amortization of prior service credit (642 ) (1,343 ) (1,343 ) Net periodic benefit cost $ 7 $ 55 $ 2,229 TNMP Plan Service cost $ 247 $ 237 $ 299 Interest cost 608 619 566 Expected return on plan assets (520 ) (534 ) (503 ) Amortization of net (gain) loss — (122 ) — Amortization of prior service cost — 32 57 Net periodic benefit cost $ 335 $ 232 $ 419
Schedule of Assumptions Used	The following significant weighted-average assumptions were used to determine the APBO and net periodic benefit cost. Should actual experience differ from actuarial assumptions, the APBO and net periodic benefit cost would be affected. Year Ended December 31, PNM Plan 2015 2014 2013 Discount rate for determining December 31 APBO 5.34 % 4.45 % 5.21 % Discount rate for determining net periodic benefit cost 4.45 % 5.21 % 4.26 % Expected return on plan assets 7.70 % 8.50 % 8.50 % Rate of compensation increase N/A N/A N/A TNMP Plan Discount rate for determining December 31 APBO 5.34 % 4.45 % 5.21 % Discount rate for determining net periodic benefit cost 4.45 % 5.21 % 4.26 % Expected return on plan assets 5.70 % 6.50 % 6.50 % Rate of compensation increase N/A N/A N/A
Schedule of Expected Benefit Payments	The following other postretirement benefit payments, which reflect expected future service and are net of participant contributions, are expected to be paid: PNM Plan TNMP Plan (In thousands) 2016 $ 6,568 $ 838 2017 6,667 858 2018 6,815 880 2019 6,830 903 2020 6,875 927 2021 - 2025 33,268 4,939
Executive Retirement Program [Member]
Defined Benefit Plan Disclosure [Line Items]
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year	The following table presents pre-tax information about net actuarial loss in AOCI as of December 31, 2015 . December 31, 2015 PNM Plan TNMP Plan (In thousands) Amount in AOCI not yet recognized in net periodic benefit cost at beginning of year $ 2,602 $ — Experience loss (gain) (908 ) 26 Regulatory asset (liability) adjustment 526 (26 ) Amortization recognized in net periodic benefit cost (income) (136 ) — Amount in AOCI not yet recognized in net periodic benefit cost at end of year $ 2,084 $ — Amortization expected to be recognized in 2016 $ 108 $ —
Schedule of Net Benefit Costs	The following table presents the components of net periodic benefit: Year Ended December 31, 2015 2014 2013 (In thousands) PNM Plan Service cost $ — $ — $ — Interest cost 760 822 720 Amortization of net (gain) loss 325 210 232 Amortization of prior service cost — — — Net periodic benefit cost $ 1,085 $ 1,032 $ 952 TNMP Plan Service cost $ — $ — $ — Interest cost 36 39 36 Amortization of net (gain) loss 5 — — Amortization of prior service cost — — — Net periodic benefit cost $ 41 $ 39 $ 36
Schedule of Assumptions Used	The following significant weighted-average assumptions were used to determine the PBO and net periodic benefit cost. Should actual experience differ from actuarial assumptions, the PBO and net periodic benefit cost would be affected. Year Ended December 31, PNM Plan 2015 2014 2013 Discount rate for determining December 31 PBO 5.29 % 4.48 % 5.27 % Discount rate for determining net periodic benefit cost 4.48 % 5.27 % 4.30 % Long-term rate of return on plan assets N/A N/A N/A Rate of compensation increase N/A N/A N/A TNMP Plan Discount rate for determining December 31 PBO 5.39 % 4.39 % 5.06 % Discount rate for determining net periodic benefit cost 4.39 % 5.06 % 4.19 % Long-term rate of return on plan assets N/A N/A N/A Rate of compensation increase N/A N/A N/A
Schedule of Expected Benefit Payments	The following executive retirement plan payments, which reflect expected future service, are expected: PNM Plan TNMP Plan (In thousands) 2016 $ 1,517 $ 93 2017 1,499 92 2018 1,477 90 2019 1,453 88 2020 1,426 85 2021 – 2025 6,587 371

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Awards	The following table provides additional information concerning stock options, and restricted stock activity including performance-based and market-based shares: Year Ended December 31, Restricted Stock 2015 2014 2013 Weighted-average grant date fair value $ 20.34 $ 21.27 $ 20.03 Total fair value of restricted shares that vested (in thousands) $ 6,507 $ 4,933 $ 4,395 Stock Options Weighted-average grant date fair value of options granted $ — $ — $ — Total fair value of options that vested (in thousands) $ — $ — $ 625 Total intrinsic value of options exercised (in thousands) $ 2,350 $ 2,473 $ 2,721 The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value: Year Ended December 31, Restricted Shares and Performance-Based Shares 2015 2014 2013 Expected quarterly dividends per share $ 0.200 $ 0.185 $ 0.165 Risk-free interest rate 0.92 % 0.62 % 0.34 % Market-Based Shares Dividend yield 2.87 % 2.82 % 2.86 % Expected volatility 18.73 % 25.11 % 25.11 % Risk-free interest rate 1.00 % 0.64 % 0.36 % The following table summarizes activity in restricted stock awards, including performance-based and market-based shares, and stock options: Restricted Stock Stock Options Shares Weighted-Average Grant Date Fair Value Shares Weighted Average Exercise Price Outstanding at December 31, 2014 258,770 $ 22.31 920,505 $ 20.39 Granted 340,020 $ 20.34 — $ — Exercised (349,635 ) $ 18.61 (280,612 ) $ 20.13 Forfeited (4,061 ) $ 24.81 (1,000 ) $ 30.50 Expired — — (69,551 ) $ 28.02 Outstanding at December 31, 2015 245,094 $ 24.81 569,342 $ 19.35

Construction Program and Join44

Construction Program and Jointly-Owned Electric Generating Plants (Tables)	12 Months Ended
	Dec. 31, 2015
Construction Program and Jointly-Owned Electric Generating Plants [Abstract]
Summary of Interests and Investments in Jointly-Owned Generating Facilities	At December 31, 2015 , PNM’s interests and investments in jointly-owned generating facilities are: Station (Fuel Type) Plant in Service Accumulated Depreciation Construction Work in Progress Composite Interest (In thousands) SJGS (Coal) (1) $ 1,083,331 $ (428,684 ) $ 20,117 46.30 % PVNGS (Nuclear) (2) $ 562,412 $ (164,549 ) $ 38,966 10.20 % Four Corners Units 4 and 5 (Coal) $ 167,874 $ (102,559 ) $ 19,390 13.00 % Luna (Gas) $ 69,259 $ (23,048 ) $ 33 33.33 % (1) As discussed in Note 16, the NMPRC has approved the shutdown of SJGS Units 2 and 3 as of December 31, 2017. At December 31, 2015, PNM’s carrying value for its current ownership share of SJGS Units 2 and 3 included plant in service of $468.2 million , accumulated depreciation and amortization of $193.3 million , and construction work in progress of $2.2 million for a net undepreciated net book value of $277.1 million , which amounts are included in the table above. At December 31, 2015, PNM recorded a regulatory disallowance of $127.6 million representing its estimate of the portion of the December 31, 2017 net book value of SJGS Units 2 and 3 that will not be recovered from ratepayers, which is reflected as a reduction of plant in service on the Consolidated Balance Sheets. (2) Includes interest in PVNGS Unit 3 , interest in common facilities for all PVNGS units, and owned interests in PVNGS Units 1 and 2 .
Summary of Budgeted Construction Expenditures	An unaudited summary of the budgeted construction expenditures, including expenditures for jointly-owned projects, and nuclear fuel, is as follows: 2016 2017 2018 2019 2020 Total (In millions) PNM $ 396.4 $ 295.1 $ 269.3 $ 220.3 $ 183.7 $ 1,364.8 TNMP 114.6 101.1 114.3 117.0 126.3 573.3 Corporate and Other 35.8 18.9 14.1 15.1 15.0 98.9 Total PNMR $ 546.8 $ 415.1 $ 397.7 $ 352.4 $ 325.0 $ 2,037.0

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	12 Months Ended
	Dec. 31, 2015
Asset Retirement Obligation Disclosure [Abstract]
Reconciliation of Asset Retirement Obligations	A reconciliation of the ARO liability is as follows: PNMR PNM TNMP (In thousands) Liability at December 31, 2012 $ 85,893 $ 85,042 $ 732 Liabilities incurred — — — Liabilities settled (79 ) (67 ) (12 ) Accretion expense 7,245 7,174 62 Revisions to estimated cash flows (1) 3,076 3,076 — Liability at December 31, 2013 96,135 95,225 782 Liabilities incurred — — — Liabilities settled — — — Accretion expense 7,984 7,906 66 Revisions to estimated cash flows 51 51 — Liability at December 31, 2014 104,170 103,182 848 Liabilities incurred — — — Liabilities settled (730 ) (506 ) (224 ) Accretion expense 8,625 8,543 71 Revisions to estimated cash flows (2) (170 ) (170 ) — Liability at December 31, 2015 $ 111,895 $ 111,049 $ 695 (1) Based on studies to estimate the amount and timing of future ARO expenditures. PNM has an ARO for PVNGS that includes the obligations for nuclear decommissioning of that facility. In 2013, a new decommissioning study for PVNGS was implemented reflecting updated cash flow estimates, including the extended operating licenses. The new study resulted in an increase of $0.5 million to the ARO. In addition, a new decommissioning study for SJGS was implemented in 2013, resulting in a $2.5 million increase to the ARO. (2) Based on studies to estimate the amount and timing of future ARO expenditures. PNM has an ARO for Four Corners that includes obligations for decommissioning of that facility. In 2015, a new decommissioning study for Four Corners was implemented reflecting updated cash flow estimates. The new study resulted in an increase of $1.0 million to the ARO. In addition, a new decommissioning study for SJGS was implemented in 2015, resulting in a $1.2 million decrease to the ARO.

Regulatory and Rate Matters Reg

Regulatory and Rate Matters Regulatory and Rate Matters (Tables)	12 Months Ended
	Dec. 31, 2015
Regulated Operations [Abstract]
Schedule of Rate Increases for Transmission Costs	Effective Date Aggregate Collection Amount Performance Bonus (in millions) January 1, 2013 $ 5.2 $ — March 1, 2014 5.6 0.7 March 1, 2015 5.7 1.5 March 1, 2016 6.0 0.7 The following sets forth TNMP’s recent interim transmission cost rate increases: Effective Date Approved Increase in Rate Base Annual Increase in Revenue (in millions) September 27, 2012 $ 26.4 $ 2.5 March 20, 2013 21.9 2.9 September 17, 2013 18.1 2.8 March 13, 2014 18.2 2.9 September 8, 2014 25.2 4.2 March 16, 2015 27.1 4.4 September 10, 2015 7.0 1.4

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Information regarding AOCI is as follows: Accumulated Other Comprehensive Income (Loss) PNM TNMP PNMR Unrealized Gains on Available-for-Sale Securities Pension Liability Adjustment Total Fair Value Adjustment for Cash Flow Hedges Fair Value Adjustment for Cash Flow Hedges Total (In thousands) Balance at December 31, 2012 $ 16,406 $ (97,820 ) $ (81,414 ) $ (216 ) $ — $ (81,630 ) Amounts reclassified from AOCI (pre-tax) (11,956 ) 6,364 (5,592 ) 207 — (5,385 ) Income tax impact of amounts reclassified 4,734 (2,524 ) 2,210 (73 ) — 2,137 Other OCI changes (pre-tax) 27,419 17,136 44,555 (279 ) — 44,276 Income tax impact of other OCI changes (10,855 ) (6,781 ) (17,636 ) 98 — (17,538 ) Net change after income taxes 9,342 14,195 23,537 (47 ) — 23,490 Balance at December 31, 2013 25,748 (83,625 ) (57,877 ) (263 ) — (58,140 ) Amounts reclassified from AOCI (pre-tax) (13,862 ) 5,152 (8,710 ) 558 — (8,152 ) Income tax impact of amounts reclassified 5,461 (2,032 ) 3,429 (195 ) — 3,234 Other OCI changes (pre-tax) 17,473 (15,282 ) 2,191 (153 ) — 2,038 Income tax impact of other OCI changes (6,812 ) 6,024 (788 ) 53 — (735 ) Net change after income taxes 2,260 (6,138 ) (3,878 ) 263 — (3,615 ) Balance at December 31, 2014 28,008 (89,763 ) (61,755 ) — — (61,755 ) Amounts reclassified from AOCI (pre-tax) (28,531 ) 5,952 (22,579 ) — — (22,579 ) Income tax impact of amounts reclassified 11,181 (2,332 ) 8,849 — — 8,849 Other OCI changes (pre-tax) 10,998 (4,405 ) 6,593 — 72 6,665 Income tax impact of other OCI changes (4,310 ) 1,726 (2,584 ) — (28 ) (2,612 ) Net change after income taxes (10,662 ) 941 (9,721 ) — 44 (9,677 ) Balance at December 31, 2015 $ 17,346 $ (88,822 ) $ (71,476 ) $ — $ 44 $ (71,432 )

Quarterly Operating Results (48

Quarterly Operating Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Data [Abstract]
Schedule of Quarterly Financial Information	Unaudited operating results by quarters for 2015 and 2014 are presented below. In the opinion of management of the Company, all adjustments (consisting of normal recurring accruals) necessary for a fair statement of the results of operations for such periods have been included. Quarter Ended March 31 June 30 September 30 December 31 (In thousands, except per share amounts) PNMR 2015 Operating revenues $ 332,868 $ 352,887 $ 417,433 $ 335,894 Operating income 49,569 72,414 121,505 (119,138 ) (1) Net earnings 17,852 35,655 64,855 (87,284 ) Net earnings attributable to PNMR 14,340 31,673 61,045 (91,418 ) Net Earnings Attributable to PNMR per Common Share: Basic 0.18 0.40 0.77 (1.15 ) Diluted 0.18 0.40 0.76 (1.15 ) 2014 Operating revenues $ 328,897 $ 346,160 $ 413,951 $ 346,845 Operating income 48,753 71,296 116,799 62,849 Net earnings 16,131 33,181 59,486 22,111 Net earnings attributable to PNMR 12,468 29,141 55,653 18,992 Net Earnings Attributable to PNMR per Common Share: Basic 0.16 0.37 0.70 0.24 Diluted 0.16 0.36 0.69 0.24 PNM 2015 Operating revenues $ 261,940 $ 275,450 $ 333,437 $ 260,368 Operating income 31,655 47,179 93,710 (139,164 ) Net earnings (loss) 13,502 25,363 53,056 (92,245 ) Net earnings (loss) attributable to PNM 10,122 21,513 49,378 (96,247 ) 2014 Operating revenues $ 262,736 $ 275,704 $ 334,993 $ 274,481 Operating income 31,304 49,806 90,615 40,988 Net earnings 11,205 24,254 49,052 16,942 Net earnings attributable to PNM 7,674 20,346 45,351 13,955 TNMP 2015 Operating revenues $ 70,928 $ 77,437 $ 83,996 $ 75,526 Operating income 17,931 24,729 27,667 19,706 Net earnings 7,694 11,865 13,689 8,715 2014 Operating revenues $ 66,161 $ 70,456 $ 78,958 $ 72,364 Operating income 17,262 21,265 25,873 21,188 Net earnings 6,803 9,534 12,355 9,115 (1) Includes an expense of $165.7 million related to the BART determination for SJGS discussed in Note 16.

Summary of the Business and S49

Summary of the Business and Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 1986Operating_Leases
Accounting Policies Disclosures [Line Items]
Allowance for equity funds used during construction	$ 10,430,000	$ 5,563,000	$ 4,382,000
Weighted average borrowing rate	6.60%	6.60%	6.90%
Interest costs incurred, capitalized	$ 1,500,000	$ 1,600,000	$ 1,500,000
Public Service Company of New Mexico [Member]
Accounting Policies Disclosures [Line Items]
Allowance for funds used during construction, capitalized interest	7,800,000	4,200,000	3,300,000
Allowance for equity funds used during construction	10,430,000	5,563,000	4,382,000
Interest costs incurred, capitalized	800,000	1,100,000	1,100,000
Impairment losses on securities held in the NDT	$ 10,400,000	4,800,000	3,500,000
Public Service Company of New Mexico [Member] | 10.3% Lessor Notes [Member]
Accounting Policies Disclosures [Line Items]
Notes receivable, stated percentage rate	10.30%
Public Service Company of New Mexico [Member] | 10.15% Lessor Notes [Member]
Accounting Policies Disclosures [Line Items]
Notes receivable, stated percentage rate	10.15%
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member]
Accounting Policies Disclosures [Line Items]
Number of operating leases | Operating_Leases				11
Texas-New Mexico Power Company [Member]
Accounting Policies Disclosures [Line Items]
Allowance for funds used during construction, capitalized interest	$ 500,000	500,000	400,000
Allowance for equity funds used during construction	0	0	0
Interest costs incurred, capitalized	$ 100,000	$ 100,000	$ 0

Summary of the Business and S50

Summary of the Business and Significant Accounting Policies - Inventories/Depreciation and Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Public Utilities, Inventory [Line Items]
Inventory	$ 67,386	$ 63,628
Coal [Member]
Public Utilities, Inventory [Line Items]
Inventory	18,356	17,525
Materials and supplies [Member]
Public Utilities, Inventory [Line Items]
Inventory	49,030	46,103
Public Service Company of New Mexico [Member]
Public Utilities, Inventory [Line Items]
Inventory	60,477	60,859
Public Service Company of New Mexico [Member] | Coal [Member]
Public Utilities, Inventory [Line Items]
Inventory	18,356	17,525
Public Service Company of New Mexico [Member] | Materials and supplies [Member]
Public Utilities, Inventory [Line Items]
Inventory	$ 42,121	$ 43,334
Public Service Company of New Mexico [Member] | Electric plant [Member]
Public Utilities, Inventory [Line Items]
Depreciation average rates used	2.27%	2.26%	2.27%
Public Service Company of New Mexico [Member] | Common, intangible, and general plant [Member]
Public Utilities, Inventory [Line Items]
Depreciation average rates used	4.66%	4.64%	4.87%
Texas-New Mexico Power Company [Member]
Public Utilities, Inventory [Line Items]
Depreciation average rates used	3.94%	3.59%	3.66%
Inventory	$ 6,909	$ 2,769
Texas-New Mexico Power Company [Member] | Coal [Member]
Public Utilities, Inventory [Line Items]
Inventory	0	0
Texas-New Mexico Power Company [Member] | Materials and supplies [Member]
Public Utilities, Inventory [Line Items]
Inventory	$ 6,909	$ 2,769

Segment Information - Schedule

Segment Information - Schedule (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Electric Operating Revenues	$ 335,894	$ 417,433	$ 352,887	$ 332,868	$ 346,845	$ 413,951	$ 346,160	$ 328,897	$ 1,439,082	$ 1,435,853	$ 1,387,923
Cost of energy									464,649	471,556	432,316
Margin									974,433	964,297	955,607
Other operating expenses									664,164	491,966	501,884
Depreciation and amortization									185,919	172,634	166,881
Operating income	(119,138)	121,505	72,414	49,569	62,849	116,799	71,296	48,753	124,350	299,697	286,842
Interest income									6,498	8,483	10,043
Other income (deductions)									30,165	12,094	(368)
Interest charges									(114,860)	(119,627)	(121,448)
Earnings before Income Taxes									46,153	200,647	175,069
Income Taxes									15,075	69,738	59,513
Net Earnings	(87,284)	$ 64,855	$ 35,655	$ 17,852	22,111	$ 59,486	$ 33,181	$ 16,131	31,078	130,909	115,556
Valencia non-controlling interest									(14,910)	(14,127)	(14,521)
Preferred Stock Dividend Requirements of Subsidiary									(528)	(528)	(528)
Segment earnings (loss) attributable to PNMR									15,640	116,254	100,507
Total Assets	6,009,328				5,790,237				6,009,328	5,790,237	5,426,858
Goodwill	278,297				278,297				278,297	278,297	278,297
PNM [Member]
Segment Reporting Information [Line Items]
Electric Operating Revenues									1,131,195	1,147,914	1,116,312
Cost of energy									391,131	403,626	374,710
Margin									740,064	744,288	741,602
Other operating expenses									590,967	422,051	428,591
Depreciation and amortization									115,717	109,524	103,826
Operating income									33,380	212,713	209,185
Interest income									6,574	8,557	10,182
Other income (deductions)									26,914	12,258	11,288
Interest charges									(79,950)	(79,442)	(79,175)
Earnings before Income Taxes									(13,082)	154,086	151,480
Income Taxes									(12,758)	52,633	48,804
Net Earnings									(324)	101,453	102,676
Valencia non-controlling interest									(14,910)	(14,127)	(14,521)
Preferred Stock Dividend Requirements of Subsidiary									(528)	(528)	(528)
Segment earnings (loss) attributable to PNMR									(15,762)	86,798	87,627
Total Assets	4,599,344				4,453,114				4,599,344	4,453,114	4,174,261
Goodwill	51,632				51,632				51,632	51,632	51,632
TNMP [Member]
Segment Reporting Information [Line Items]
Electric Operating Revenues									307,887	287,939	271,611
Cost of energy									73,518	67,930	57,606
Margin									234,369	220,009	214,005
Other operating expenses									88,051	84,365	91,601
Depreciation and amortization									56,285	50,056	50,219
Operating income									90,033	85,588	72,185
Interest income									0	0	0
Other income (deductions)									3,736	2,138	1,919
Interest charges									(27,681)	(27,396)	(27,393)
Earnings before Income Taxes									66,088	60,330	46,711
Income Taxes									24,125	22,523	17,621
Net Earnings									41,963	37,807	29,090
Valencia non-controlling interest									0	0	0
Preferred Stock Dividend Requirements of Subsidiary									0	0	0
Segment earnings (loss) attributable to PNMR									41,963	37,807	29,090
Total Assets	1,297,139				1,229,417				1,297,139	1,229,417	1,151,327
Goodwill	226,665				226,665				226,665	226,665	226,665
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Electric Operating Revenues									0	0	0
Cost of energy									0	0	0
Margin									0	0	0
Other operating expenses									(14,854)	(14,450)	(18,308)
Depreciation and amortization									13,917	13,054	12,836
Operating income									937	1,396	5,472
Interest income									(76)	(74)	(139)
Other income (deductions)									(485)	(2,302)	(13,575)
Interest charges									(7,229)	(12,789)	(14,880)
Earnings before Income Taxes									(6,853)	(13,769)	(23,122)
Income Taxes									3,708	(5,418)	(6,912)
Net Earnings									(10,561)	(8,351)	(16,210)
Valencia non-controlling interest									0	0	0
Preferred Stock Dividend Requirements of Subsidiary									0	0	0
Segment earnings (loss) attributable to PNMR									(10,561)	(8,351)	(16,210)
Total Assets	112,845				107,706				112,845	107,706	101,270
Goodwill	$ 0				$ 0				$ 0	$ 0	$ 0

Segment Information - Narrative

Segment Information - Narrative (Details) - Electric operating revenues [Member] - customer	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
PNMR and PNM [Member]
Concentration Risk [Line Items]
Number of customers that make up more than 10% of total revenue	0
PNMR and PNM [Member] | Maximum [Member]
Concentration Risk [Line Items]
Operating revenues from continuing operations	10.00%
Texas-New Mexico Power Company [Member]
Concentration Risk [Line Items]
Number of customers that make up more than 10% of total revenue	3
Texas-New Mexico Power Company [Member] | Unaffiliated Customer of Texas-New Mexico Power Company One [Member]
Concentration Risk [Line Items]
Operating revenues from continuing operations	16.00%	15.00%	16.00%
Texas-New Mexico Power Company [Member] | Unaffiliated Customer of Texas-New Mexico Power Company Three [Member]
Concentration Risk [Line Items]
Operating revenues from continuing operations	13.00%	15.00%	17.00%
Texas-New Mexico Power Company [Member] | Unaffiliated Customer of Texas-New Mexico Power Company Two [Member]
Concentration Risk [Line Items]
Operating revenues from continuing operations	11.00%	11.00%	10.00%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Service billings [Member] | PNMR to PNM [Member]
Related Party Transaction [Line Items]
Amount of related party transaction	$ 90,827	$ 86,871	$ 92,597
Service billings [Member] | PNMR to TNMP [Member]
Related Party Transaction [Line Items]
Amount of related party transaction	28,109	28,349	28,937
Service billings [Member] | PNM to TNMP [Member]
Related Party Transaction [Line Items]
Amount of related party transaction	554	524	562
Service billings [Member] | TNMP to PNMR [Member]
Related Party Transaction [Line Items]
Amount of related party transaction	41	31	7
Income tax sharing payments [Member] | PNMR to PNM [Member]
Related Party Transaction [Line Items]
Amount of related party transaction	1,450	0	77,433
Income tax sharing payments [Member] | PNMR to TNMP [Member]
Related Party Transaction [Line Items]
Amount of related party transaction	0	0	0
Income tax sharing payments [Member] | TNMP to PNMR [Member]
Related Party Transaction [Line Items]
Amount of related party transaction	0	0	3,643
Interest charges [Member] | TNMP to PNMR [Member]
Related Party Transaction [Line Items]
Amount of related party transaction	276	309	481
Interest charges [Member] | PNM to PNMR [Member]
Related Party Transaction [Line Items]
Amount of related party transaction	$ 54	$ 65	$ 4

Regulatory Assets and Liabili54

Regulatory Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Regulatory Assets
Current	$ 1,070	$ 47,855
Non-Current	470,664	491,007
Regulatory Liabilities
Current	(15,591)	(1,703)
Non-Current	(467,413)	(466,143)
Public Service Company of New Mexico [Member]
Regulatory Assets
Current	0	43,980
Non-Current	342,910	357,045
Total regulatory assets	342,910	401,025
Regulatory Liabilities
Current	(15,591)	(1,703)
Non-Current	(434,863)	(425,481)
Total regulatory liabilities	(450,454)	(427,184)
Public Service Company of New Mexico [Member] | Fuel and Purchased Power Adjustment Clause [Member]
Regulatory Liabilities
Current	(11,410)	0
Public Service Company of New Mexico [Member] | Other Current [Member]
Regulatory Liabilities
Current	(4,181)	(1,703)
Public Service Company of New Mexico [Member] | Cost of removal [Member]
Regulatory Liabilities
Non-Current	(284,015)	(277,148)
Public Service Company of New Mexico [Member] | Deferred income taxes [Member]
Regulatory Liabilities
Non-Current	(77,502)	(75,941)
Public Service Company of New Mexico [Member] | AROs [Member]
Regulatory Liabilities
Non-Current	(33,747)	(35,834)
Public Service Company of New Mexico [Member] | Renewable energy [Member]
Regulatory Liabilities
Non-Current	(23,697)	(24,854)
Public Service Company of New Mexico [Member] | AMS surcharge [Member]
Regulatory Liabilities
Non-Current	0	0
Public Service Company of New Mexico [Member] | Nuclear spent fuel, Reimbursement [Member]
Regulatory Liabilities
Non-Current	(9,214)	(3,625)
Public Service Company of New Mexico [Member] | Pension and OPEB [Member]
Regulatory Liabilities
Non-Current	0	0
Public Service Company of New Mexico [Member] | Other [Member]
Regulatory Liabilities
Non-Current	(6,688)	(8,079)
Public Service Company of New Mexico [Member] | Fuel and Purchased Power Adjustment Clause [Member]
Regulatory Assets
Current	0	43,980
Public Service Company of New Mexico [Member] | Transmission cost recovery factor [Member]
Regulatory Assets
Current	0	0
Public Service Company of New Mexico [Member] | Energy efficiency costs [Member]
Regulatory Assets
Current	0	0
Public Service Company of New Mexico [Member] | CTC, including carrying charges[Member]
Regulatory Assets
Non-Current	0	0
Public Service Company of New Mexico [Member] | Coal mine reclamation costs [Member]
Regulatory Assets
Non-Current	28,303	34,224
Public Service Company of New Mexico [Member] | Deferred income taxes [Member]
Regulatory Assets
Non-Current	66,990	63,645
Public Service Company of New Mexico [Member] | Loss on reacquired debt [Member]
Regulatory Assets
Non-Current	23,627	25,439
Public Service Company of New Mexico [Member] | Pension and OPEB [Member]
Regulatory Assets
Non-Current	218,743	222,545
Public Service Company of New Mexico [Member] | AMS surcharge [Member]
Regulatory Assets
Non-Current	0	0
Public Service Company of New Mexico [Member] | Advanced meter retirement costs [Member]
Regulatory Assets
Non-Current	0	0
Public Service Company of New Mexico [Member] | Renewable energy [Member]
Regulatory Assets
Non-Current	0	5,263
Public Service Company of New Mexico [Member] | Other [Member]
Regulatory Assets
Non-Current	5,247	5,929
Texas-New Mexico Power Company [Member]
Regulatory Assets
Current	1,070	3,875
Non-Current	127,754	133,962
Total regulatory assets	128,824	137,837
Regulatory Liabilities
Current	0	0
Non-Current	(32,550)	(40,662)
Total regulatory liabilities	(32,550)	(40,662)
Texas-New Mexico Power Company [Member] | Fuel and Purchased Power Adjustment Clause [Member]
Regulatory Liabilities
Current	0	0
Texas-New Mexico Power Company [Member] | Other Current [Member]
Regulatory Liabilities
Current	0	0
Texas-New Mexico Power Company [Member] | Cost of removal [Member]
Regulatory Liabilities
Non-Current	(26,859)	(29,391)
Texas-New Mexico Power Company [Member] | Deferred income taxes [Member]
Regulatory Liabilities
Non-Current	(3,283)	(3,923)
Texas-New Mexico Power Company [Member] | AROs [Member]
Regulatory Liabilities
Non-Current	0	0
Texas-New Mexico Power Company [Member] | Renewable energy [Member]
Regulatory Liabilities
Non-Current	0	0
Texas-New Mexico Power Company [Member] | AMS surcharge [Member]
Regulatory Liabilities
Non-Current	0	(5,227)
Texas-New Mexico Power Company [Member] | Nuclear spent fuel, Reimbursement [Member]
Regulatory Liabilities
Non-Current	0	0
Texas-New Mexico Power Company [Member] | Pension and OPEB [Member]
Regulatory Liabilities
Non-Current	(1,913)	(2,121)
Texas-New Mexico Power Company [Member] | Other [Member]
Regulatory Liabilities
Non-Current	(495)	0
Texas-New Mexico Power Company [Member] | Fuel and Purchased Power Adjustment Clause [Member]
Regulatory Assets
Current	0	0
Texas-New Mexico Power Company [Member] | Transmission cost recovery factor [Member]
Regulatory Assets
Current	441	2,482
Texas-New Mexico Power Company [Member] | Energy efficiency costs [Member]
Regulatory Assets
Current	629	1,393
Texas-New Mexico Power Company [Member] | CTC, including carrying charges[Member]
Regulatory Assets
Non-Current	46,147	55,292
Texas-New Mexico Power Company [Member] | Coal mine reclamation costs [Member]
Regulatory Assets
Non-Current	0	0
Texas-New Mexico Power Company [Member] | Deferred income taxes [Member]
Regulatory Assets
Non-Current	10,244	10,556
Texas-New Mexico Power Company [Member] | Loss on reacquired debt [Member]
Regulatory Assets
Non-Current	35,405	36,703
Texas-New Mexico Power Company [Member] | Pension and OPEB [Member]
Regulatory Assets
Non-Current	23,356	23,803
Texas-New Mexico Power Company [Member] | AMS surcharge [Member]
Regulatory Assets
Non-Current	1,673	0
Texas-New Mexico Power Company [Member] | Advanced meter retirement costs [Member]
Regulatory Assets
Non-Current	8,549	6,453
Texas-New Mexico Power Company [Member] | Renewable energy [Member]
Regulatory Assets
Non-Current	0	0
Texas-New Mexico Power Company [Member] | Other [Member]
Regulatory Assets
Non-Current	$ 2,380	$ 1,155

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Line of Credit [Member]
Class of Stock [Line Items]
Ratio of debt to capital, maximum	65.00%
Public Service Company of New Mexico [Member]
Class of Stock [Line Items]
Equity contribution from parent	$ 175,000	$ 0	$ 0
Amount available for dividend distribution without prior approval from regulators or financial counterparties	$ 153,000
Preferred stock, dividend rate	4.58%
Preferred stock, redemption percent	102.00%
Preferred stock outstanding (in shares)	115,293	115,293
Preferred stock, cumulative shares authorized (in shares)	10,000,000	10,000,000
Public Service Company of New Mexico [Member] | Maximum [Member]
Class of Stock [Line Items]
Requirement to obtain approval to transfer more than a percentage of PNM's assets	5.00%
Public Service Company of New Mexico [Member] | Affiliated Entity [Member]
Class of Stock [Line Items]
Cash dividends paid to parent company by consolidated subsidiaries	$ 94,400	$ 30,300	155,000
Texas-New Mexico Power Company [Member]
Class of Stock [Line Items]
Equity contribution from parent	0	0	13,800
Amount available for dividend distribution without prior approval from regulators or financial counterparties	$ 195,000
Preferred stock, cumulative shares authorized (in shares)	1,000,000
Texas-New Mexico Power Company [Member] | Line of Credit [Member]
Class of Stock [Line Items]
Ratio of debt to capital, maximum	65.00%
Texas-New Mexico Power Company [Member] | Affiliated Entity [Member]
Class of Stock [Line Items]
Cash dividends paid to parent company by consolidated subsidiaries	$ 33,200	$ 16,300	$ 3,700
PNMR and TNMP [Member]
Class of Stock [Line Items]
Preferred stock outstanding (in shares)	0

Financing - Activities, PNM and

Financing - Activities, PNM and TNMP (Details) - USD ($)

Feb. 01, 2016

Dec. 21, 2015

Aug. 11, 2015

May. 08, 2015

Jun. 27, 2014

Apr. 22, 2013

Apr. 03, 2013

Dec. 27, 2012

Sep. 30, 2011

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Dec. 17, 2015

Sep. 30, 2015

Jun. 01, 2015

Mar. 09, 2015

Dec. 22, 2014

Mar. 05, 2014

Dec. 09, 2013

Mar. 06, 2013

Dec. 14, 2012

Debt Instrument [Line Items]

Short-term debt

$ 250,600,000

$ 105,600,000

Amount borrowed under agreement

50,000,000

0

$ 0

Fixed interest rate

1.927%

Repayments of unsecured debt

26,900,000

Gain (loss) on reacquired debt

0

0

(3,253,000)

NM Capital [Member] | San Juan Generating Station [Member] | Coal Supply [Member] | Subsequent Event [Member]

Debt Instrument [Line Items]

Payments to fund long-tern loans to unaffiliated third party

$ 125,000,000

Texas-New Mexico Power Company [Member]

Debt Instrument [Line Items]

Short-term debt

59,000,000

5,000,000

Aggregate principal amount

$ 1,000

Repayments of debt

$ 30,000,000

Cash offered for debt exchanged

140

Level 2 [Member] | Cash Flow Hedging [Member]

Debt Instrument [Line Items]

Fair value gain

100,000

PNMR Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Short-term debt

41,600,000

600,000

Notes Payable to Banks [Member] | PNMR Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Repayment of borrowings made under the Revolving Credit Facility

$ 75,000,000

$ 100,000,000

PNMR Term Loan Agreement [Member]

Debt Instrument [Line Items]

Short-term debt

$ 150,000,000

$ 100,000,000

PNMR Term Loan Agreement [Member] | Notes Payable to Banks [Member]

Debt Instrument [Line Items]

Short-term debt

$ 100,000,000

Amount borrowed under agreement

$ 150,000,000

$ 100,000,000

PNM Term Loan Agreement [Member] | Notes Payable to Banks [Member]

Debt Instrument [Line Items]

Short-term debt

$ 75,000,000

Line of Credit [Member]

Debt Instrument [Line Items]

Ratio of debt to capital, maximum

65.00%

Line of Credit [Member] | Texas-New Mexico Power Company [Member]

Debt Instrument [Line Items]

Ratio of debt to capital, maximum

65.00%

PNMR 2015 Term Loan Agreement [Member]

Debt Instrument [Line Items]

Long-term debt

$ 150,000,000

Variable interest rate

1.22%

Senior unsecured notes, 9.25% due 2015 [Member] | Senior unsecured notes, 9.25% due 2015 [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 23,800,000

Unsecured Debt [Member]

Debt Instrument [Line Items]

Stated percentage

9.25%

Unsecured Debt [Member] | Public Service Company of New Mexico [Member]

Debt Instrument [Line Items]

Shelf registration statement of unsecured debt

$ 250,000,000

Unsecured Debt [Member] | Senior unsecured notes, 9.25% due 2015 [Member]

Debt Instrument [Line Items]

Stated percentage

9.25%

Aggregate outstanding principal amount

$ 118,800,000

Unsecured Debt [Member] | 3.85% due 2025 [Member] | Public Service Company of New Mexico [Member]

Debt Instrument [Line Items]

Stated percentage

3.85%

3.85%

3.85%

Aggregate outstanding principal amount

$ 250,000,000

$ 250,000,000

$ 0

BTMU Term Loan Agreement [Member] | NM Capital [Member] | Subsequent Event [Member]

Debt Instrument [Line Items]

Long-term debt

$ 125,000,000

PNM 2014 Term Loan Agreement [Member] | Public Service Company of New Mexico [Member]

Debt Instrument [Line Items]

Long-term debt

$ 175,000,000

Repayments of debt

$ 175,000,000

PNM 2014 Multi-Draw Term Loan Agreement [Member] | Public Service Company of New Mexico [Member]

Debt Instrument [Line Items]

Long-term debt

$ 125,000,000

$ 125,000,000

Variable interest rate

0.99%

Outstanding borrowings

$ 25,000,000

100,000,000

Unsecured notes, Pollution control revenue bonds [Member] | Senior unsecured note, PCRB Due 2043, at 4 percent [Member] | Public Service Company of New Mexico [Member]

Debt Instrument [Line Items]

Aggregate outstanding principal amount

$ 39,300,000

Unsecured notes, Pollution control revenue bonds [Member] | Senior unsecured note, PCRB Due 2043, at 2 point 4 percent [Member] | Public Service Company of New Mexico [Member]

Debt Instrument [Line Items]

Stated percentage

2.40%

Aggregate outstanding principal amount

$ 39,300,000

2011 Term Loan Agreement [Member] | Texas-New Mexico Power Company [Member]

Debt Instrument [Line Items]

Repayments of debt

$ 50,000,000

Proceeds from bank debt

$ 50,000,000

First Mortgage Bonds [Member] | Texas-New Mexico Power Company [Member]

Debt Instrument [Line Items]

Aggregate cash paid for debt exchanged

$ 13,000,000

First Mortgage Bonds [Member] | First Mortgage Bonds Due 2014, Series 2009A, at 9.50% [Member] | Texas-New Mexico Power Company [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 93,200,000

$ 265,500,000

Stated percentage

9.50%

9.50%

9.50%

9.50%

Aggregate outstanding principal amount

$ 172,302,000

$ 172,302,000

First Mortgage Bonds [Member] | First Mortgage Bonds 6.95%, due 2043, Series 2013A [Member] | Texas-New Mexico Power Company [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 93,200,000

Stated percentage

6.95%

6.95%

6.95%

6.95%

Aggregate outstanding principal amount

$ 93,198,000

$ 93,198,000

Unamortized premium

$ 23,200,000

First Mortgage Bonds [Member] | First Mortgage Bonds Due 2024, Series 2014A, at 4.03% [Member] | Texas-New Mexico Power Company [Member]

Debt Instrument [Line Items]

Stated percentage

4.03%

4.03%

Aggregate outstanding principal amount

$ 80,000,000

$ 80,000,000

First Mortgage Bonds [Member] | First Mortgage Bonds 3 Point 53 Percent, due 2026, Series 2016A [Member] | Texas-New Mexico Power Company [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 60,000,000

Stated percentage

3.53%

Pollution Control Revenue Bonds [Member] | First Mortgage Bonds Due 2024, Series 2014A, at 4.03% [Member] | Texas-New Mexico Power Company [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 80,000,000

Stated percentage

4.03%

Financing - PNMR and Its Subsid

Financing - PNMR and Its Subsidiaries and Short-term Debt (Details) - USD ($)	Feb. 19, 2016	Dec. 31, 2015	Dec. 31, 2014	Jan. 08, 2014	Dec. 31, 2013
Short-term Debt [Line Items]
Weighted average borrowing rate		6.60%	6.60%		6.90%
Short-term debt		$ 250,600,000	$ 105,600,000
Letters of credit outstanding		$ 6,200,000
PNMR Term Loan Agreement [Member]
Short-term Debt [Line Items]
Weighted average borrowing rate		1.26%
Short-term debt		$ 150,000,000	100,000,000
PNMR Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Credit facility, maximum borrowing capacity		$ 300,000,000
Weighted average borrowing rate		1.67%
Short-term debt		$ 41,600,000	600,000
TNMP Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Weighted average borrowing rate		1.29%
Subsequent Event [Member]
Short-term Debt [Line Items]
Invested cash	$ 1,900,000
Subsequent Event [Member] | PNMR Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Available borrowing capacity	187,700,000
Subsequent Event [Member] | Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Available borrowing capacity	598,200,000
Texas-New Mexico Power Company [Member]
Short-term Debt [Line Items]
Short-term debt - affiliate		$ 11,800,000	22,700,000
Short-term debt		59,000,000	5,000,000
Letters of credit outstanding		100,000
Texas-New Mexico Power Company [Member] | TNMP Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Credit facility, maximum borrowing capacity		75,000,000
Short-term debt		59,000,000	5,000,000
Texas-New Mexico Power Company [Member] | TNMP Revolving Credit Facility [Member] | First Mortgage Bonds Due 2014, Series 2009A, at 9.50% [Member]
Short-term Debt [Line Items]
Securities received as collateral		75,000,000
Texas-New Mexico Power Company [Member] | Subsequent Event [Member]
Short-term Debt [Line Items]
Short-term debt - affiliate	15,100,000
Invested cash	0
Texas-New Mexico Power Company [Member] | Subsequent Event [Member] | TNMP Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Available borrowing capacity	59,900,000
Public Service Company of New Mexico [Member]
Short-term Debt [Line Items]
Short-term debt - affiliate		0	0
Letters of credit outstanding		3,200,000
Public Service Company of New Mexico [Member] | New Mexico Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Credit facility, maximum borrowing capacity				$ 50,000,000
Public Service Company of New Mexico [Member] | PNM Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Credit facility, maximum borrowing capacity		400,000,000
Short-term debt		0	0
Public Service Company of New Mexico [Member] | New Mexico Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Short-term debt		0	$ 0
Public Service Company of New Mexico [Member] | Subsequent Event [Member]
Short-term Debt [Line Items]
Short-term debt - affiliate	0
Invested cash	0
Public Service Company of New Mexico [Member] | Subsequent Event [Member] | PNM Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Available borrowing capacity	350,600,000
Public Service Company of New Mexico [Member] | Subsequent Event [Member] | New Mexico Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Available borrowing capacity	$ 0
Maximum [Member]
Short-term Debt [Line Items]
Short-term debt - affiliate		$ 100,000,000

Financing - Long-term Debt (Det

Financing - Long-term Debt (Details) - USD ($)	Dec. 31, 2015	Aug. 11, 2015	Dec. 31, 2014	Dec. 31, 2013	Apr. 03, 2013	Mar. 06, 2013
Debt Instrument [Line Items]
Total	$ 2,086,370,000		$ 1,955,136,000
Long-term debt, Current maturities, Gross	125,000,000		333,066,000
Long-term debt, Excluding current maturities, Gross	1,961,370,000		1,622,070,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	(5,578,000)		(7,249,000)
Unamortized Amounts, net, less current maturities	21,000		195,000
Unamortized Amounts, net, excluding current maturities	(5,599,000)		(7,444,000)
Adjustments for New Accounting Pronouncement [Member]
Debt Instrument [Line Items]
Debt issuance expense, current portion, reclassified			0
Debt issuance expense, long-term portion, reclassified			200,000
Unsecured Debt [Member]
Debt Instrument [Line Items]
Stated percentage				9.25%
Unsecured Debt [Member] | Senior unsecured notes, 9.25% due 2015 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent			$ 118,800,000
Stated percentage			9.25%
Public Service Company of New Mexico [Member]
Debt Instrument [Line Items]
Total	1,590,870,000		$ 1,490,870,000
Long-term debt, Current maturities, Gross	125,000,000		214,300,000
Long-term debt, Excluding current maturities, Gross	1,465,870,000		1,276,570,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	10,193,000		8,333,000
Unamortized Amounts, net, less current maturities	21,000		36,000
Unamortized Amounts, net, excluding current maturities	10,172,000		8,297,000
Public Service Company of New Mexico [Member] | Adjustments for New Accounting Pronouncement [Member]
Debt Instrument [Line Items]
Debt issuance expense, current portion, reclassified			100,000
Debt issuance expense, long-term portion, reclassified			8,100,000
Public Service Company of New Mexico [Member] | Senior Unsecured Notes, Pollution Control Revenue Bonds [Member] | 4.875% due 2033 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	146,000,000		146,000,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 721,000		$ 807,000
Stated percentage	4.875%		4.875%
Public Service Company of New Mexico [Member] | Senior Unsecured Notes, Pollution Control Revenue Bonds [Member] | 6.25% due 2038 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 36,000,000		$ 36,000,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 251,000		$ 262,000
Stated percentage	6.25%		6.25%
Public Service Company of New Mexico [Member] | Senior Unsecured Notes, Pollution Control Revenue Bonds [Member] | 4.75% due 2040, mandatory tender at June 1, 2017 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 37,000,000		$ 37,000,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 82,000		$ 138,000
Stated percentage	4.75%		4.75%
Public Service Company of New Mexico [Member] | Senior Unsecured Notes, Pollution Control Revenue Bonds [Member] | 5.20% due 2040, mandatory tender at June 1, 2020 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 40,045,000		$ 40,045,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 190,000		$ 233,000
Stated percentage	5.20%		5.20%
Public Service Company of New Mexico [Member] | Senior Unsecured Notes, Pollution Control Revenue Bonds [Member] | 5.90% due 2040 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 255,000,000		$ 255,000,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 2,222,000		$ 2,313,000
Stated percentage	5.90%		5.90%
Public Service Company of New Mexico [Member] | Senior Unsecured Notes, Pollution Control Revenue Bonds [Member] | 6.25% due 2040 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 11,500,000		$ 11,500,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 100,000		$ 104,000
Stated percentage	6.25%		6.25%
Public Service Company of New Mexico [Member] | Senior Unsecured Notes, Pollution Control Revenue Bonds [Member] | 2.54% due 2042, mandatory tender at June 1, 2017 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 20,000,000		$ 20,000,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 199,000		$ 331,000
Stated percentage	2.54%		2.54%
Public Service Company of New Mexico [Member] | Senior Unsecured Notes, Pollution Control Revenue Bonds [Member] | 4.00% due 2043, mandatory tender at June 1, 2015 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 0		$ 39,300,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 0		$ 36,000
Stated percentage	0.00%		4.00%
Public Service Company of New Mexico [Member] | Senior Unsecured Notes, Pollution Control Revenue Bonds [Member] | 2.40% due 2043, mandatory tender at June 1, 2020 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 39,300,000		$ 0
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 456,000		$ 0
Stated percentage	2.40%		0.00%
Public Service Company of New Mexico [Member] | Senior Unsecured Notes, Pollution Control Revenue Bonds [Member] | 5.20% due 2043, mandatory tender at June 1, 2020 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 21,000,000		$ 21,000,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 96,000		$ 118,000
Stated percentage	5.20%		5.20%
Public Service Company of New Mexico [Member] | Unsecured Debt [Member] | 7.95% due 2018 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 350,000,000		$ 350,000,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 1,718,000		$ 2,441,000
Stated percentage	7.95%		7.95%
Public Service Company of New Mexico [Member] | Unsecured Debt [Member] | 7.50% due 2018 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 100,025,000		$ 100,025,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 320,000		$ 444,000
Stated percentage	7.50%		7.50%
Public Service Company of New Mexico [Member] | Unsecured Debt [Member] | 5.35% due 2021 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 160,000,000		$ 160,000,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 943,000		$ 1,106,000
Stated percentage	5.35%		5.35%
Public Service Company of New Mexico [Member] | Unsecured Debt [Member] | 3.85% due 2025 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 250,000,000	$ 250,000,000	$ 0
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 2,874,000		$ 0
Stated percentage	3.85%	3.85%	3.85%
Public Service Company of New Mexico [Member] | Unsecured Debt [Member] | PNM Term Loan Agreement due 2015 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 0		$ 175,000,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	0		0
Public Service Company of New Mexico [Member] | Unsecured Debt [Member] | PNM Multi-Draw Term Loan Agreement due 2016 [Member]
Debt Instrument [Line Items]
Long-term debt	125,000,000		100,000,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	21,000		0
Texas-New Mexico Power Company [Member]
Debt Instrument [Line Items]
Total	345,500,000		345,500,000
Long-term debt, Current maturities, Gross	0		0
Long-term debt, Excluding current maturities, Gross	345,500,000		345,500,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	(15,911,000)		(15,741,000)
Unamortized Amounts, net, less current maturities	0		0
Unamortized Amounts, net, excluding current maturities	(15,911,000)		(15,741,000)
Texas-New Mexico Power Company [Member] | Adjustments for New Accounting Pronouncement [Member]
Debt Instrument [Line Items]
Debt issuance expense, current portion, reclassified			0
Debt issuance expense, long-term portion, reclassified			4,400,000
Texas-New Mexico Power Company [Member] | First Mortgage Bonds [Member] | First Mortgage Bonds Due 2014, Series 2009A, at 9.50% [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	172,302,000		172,302,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 2,682,000		$ 3,508,000
Stated percentage	9.50%		9.50%		9.50%	9.50%
Texas-New Mexico Power Company [Member] | First Mortgage Bonds [Member] | First Mortgage Bonds 6.95%, due 2043, Series 2013A [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 93,198,000		$ 93,198,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ (19,490,000)		$ (20,208,000)
Stated percentage	6.95%		6.95%		6.95%	6.95%
Texas-New Mexico Power Company [Member] | First Mortgage Bonds [Member] | First Mortgage Bonds Due 2024, Series 2014A, at 4.03% [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	$ 80,000,000		$ 80,000,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 897,000		$ 959,000
Stated percentage	4.03%		4.03%
PNMR [Member]
Debt Instrument [Line Items]
Total	$ 150,000,000		$ 118,766,000
Long-term debt, Current maturities, Gross	0		118,766,000
Long-term debt, Excluding current maturities, Gross	150,000,000		0
Unamortized Discounts, (Premiums), and Issuance Costs, net	140,000		159,000
Unamortized Amounts, net, less current maturities	0		159,000
Unamortized Amounts, net, excluding current maturities	140,000		0
PNMR [Member] | Unsecured Debt [Member] | PNMR Term Loan Agreement due 2018 [Member]
Debt Instrument [Line Items]
Long-term debt	150,000,000		0
Unamortized Discounts, (Premiums), and Issuance Costs, net	140,000		0
PNMR [Member] | Unsecured Debt [Member] | Senior unsecured notes, 9.25% due 2015 [Member]
Debt Instrument [Line Items]
Unsecured long-term debt, noncurrent	0		118,766,000
Unamortized Discounts, (Premiums), and Issuance Costs, net	$ 0		$ 159,000
Stated percentage	0.00%		9.25%

Financing - Long-term Debt Matu

Financing - Long-term Debt Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Long-term Debt, by Maturity [Abstract]
2,016	$ 125,000
2,017	57,000
2,018	600,025
2,019	172,302
2,020	100,345
Thereafter	1,031,698
Total	2,086,370	$ 1,955,136
PNMR [Member]
Long-term Debt, by Maturity [Abstract]
2,016	0
2,017	0
2,018	150,000
2,019	0
2,020	0
Thereafter	0
Total	150,000	118,766
Public Service Company of New Mexico [Member]
Long-term Debt, by Maturity [Abstract]
2,016	125,000
2,017	57,000
2,018	450,025
2,019	0
2,020	100,345
Thereafter	858,500
Total	1,590,870	1,490,870
Texas-New Mexico Power Company [Member]
Long-term Debt, by Maturity [Abstract]
2,016	0
2,017	0
2,018	0
2,019	172,302
2,020	0
Thereafter	173,198
Total	$ 345,500	$ 345,500

Lease Commitments - Narrative (

Lease Commitments - Narrative (Details) $ in Thousands	Jan. 15, 2016USD ($)MW	Nov. 30, 2015USD ($)	Dec. 31, 2015USD ($)Operating_Leases	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Apr. 01, 2015
Lease commitments
Operating lease, option term extensions			2 years
Operating leases, renewal options after original lease term			6 years
Corporate Headquarters [Member]
Lease commitments
Operating lease expense		$ 1,900
Public Service Company of New Mexico [Member]
Lease commitments
Operating lease expense			$ 63,558	$ 76,745	$ 78,306
Public Service Company of New Mexico [Member] | TGP Granada, LLC and its affiliate Complaint [Member]
Lease commitments
Lease ownership in EIP			60.00%
Additional area leased of the EIP						40.00%
Option to purchase leased capacity at fair value			$ 7,700
Public Service Company of New Mexico [Member] | Navajo Nation [Member]
Lease commitments
Number of operating leases set to expire | Operating_Leases			0
Operating leases, period to expiration of the lease			5 years
Annual lease payments			$ 6,000
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member]
Lease commitments
Rental payments, fixed renewal option period during original terms of leases			50.00%
Lease covenants, restrictions on conveying, transferring, leasing, and dividends (more than)			5.00%
Loss contingency, range of possible loss, portion not accrued			$ 205,800
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member] | Subsequent Event [Member]
Lease commitments
Loss contingency, range of possible loss, portion not accrued	$ 179,100
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station, Unit 1 Leases [Member]
Lease commitments
Annual lease payments			33,000
Annual lease payments during renewal period			16,500
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station, Unit 2 Leases [Member]
Lease commitments
Annual lease payments			23,700
Annual lease payments during renewal period			$ 1,600
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station, Unit 2 Leases [Member] | Subsequent Event [Member]
Lease commitments
Estimated purchase price of leased asset	$ 78,100
Leased capacity to be purchased (in megawatts) | MW	31.25
Additional capacity to be leased (in megawatts) | MW	32.76
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station, Unit 2 Leases 32.76 MW [Member] | Subsequent Event [Member]
Lease commitments
Estimated purchase price of leased asset	$ 85,200

Lease Commitments - Schedule of

Lease Commitments - Schedule of Rent Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
PNMR [Member]
Operating lease expense [Line Items]
Operating lease expense	$ 68,652	$ 82,756	$ 82,882
Public Service Company of New Mexico [Member]
Operating lease expense [Line Items]
Operating lease expense	63,558	76,745	78,306
Texas-New Mexico Power Company [Member]
Operating lease expense [Line Items]
Operating lease expense	$ 3,688	$ 3,932	$ 2,663

Lease Commitments - Future Mini

Lease Commitments - Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
PNMR [Member]
Lease commitments
2,016	$ 29,825
2,017	26,071
2,018	25,240
2,019	25,190
2,020	25,197
Later years	108,990
Total minimum lease payments	240,513
Public Service Company of New Mexico [Member]
Lease commitments
2,016	28,496
2,017	25,413
2,018	24,945
2,019	24,902
2,020	24,902
Later years	108,990
Total minimum lease payments	237,648
Texas-New Mexico Power Company [Member]
Lease commitments
2,016	1,062
2,017	379
2,018	15
2,019	0
2,020	0
Later years	0
Total minimum lease payments	1,456
Palo Verde Nuclear Generating Station, Unit 2 Leases [Member] | Public Service Company of New Mexico [Member]
Lease commitments
Increase (decrease) in future minimum lease payments, due in the next 12 months	$ 9,000

Fair Value of Derivative and 63

Fair Value of Derivative and Other Financial Instruments, Derivative Balance Sheet Information (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Commodity derivative instruments, Current assets	$ 3,813,000	$ 11,232,000
Commodity derivative instruments, Deferred charges	2,622,000	0
Commodity derivative instruments, Current liabilities	(1,859,000)	(1,209,000)
Commodity derivative instruments, Long-term liabilities	0	(477,000)
PNMR and PNM [Member]
Derivatives, Fair Value [Line Items]
Amounts recognized for the legal right to reclaim cash collateral	0	0
Amounts posted as cash collateral under margin arrangements	2,700,000	3,800,000
Obligations to return cash collateral	100,000	200,000
PNMR and PNM [Member] | Designated as hedging instrument [Member] | Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative instruments, Current assets	3,813,000	11,232,000
Commodity derivative instruments, Deferred charges	2,622,000	0
Commodity derivative instruments, Assets	6,435,000	11,232,000
Commodity derivative instruments, Current liabilities	(1,859,000)	(1,209,000)
Commodity derivative instruments, Long-term liabilities	0	(477,000)
Commodity derivative instruments, Liabilities	(1,859,000)	(1,686,000)
Commodity derivative instruments, Net	4,576,000	9,546,000
PNMR and PNM [Member] | Designated as hedging instrument [Member] | Commodity Contract [Member] | Palo Verde Nuclear Generating Station [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative instruments, Current assets	3,000,000	3,000,000
Commodity derivative instruments, Deferred charges	2,600,000
Public Service Company of New Mexico [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative instruments, Current assets	3,813,000	11,232,000
Commodity derivative instruments, Deferred charges	2,622,000	0
Commodity derivative instruments, Current liabilities	(1,859,000)	(1,209,000)
Commodity derivative instruments, Long-term liabilities	0	$ (477,000)
Public Service Company of New Mexico [Member] | Designated as hedging instrument [Member] | Commodity Contract [Member] | Fuel and Purchased Power Adjustment Clause [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative instruments, Current assets	400,000
Commodity derivative instruments, Current liabilities	$ (200,000)

Fair Value of Derivative and 64

Fair Value of Derivative and Other Financial Instruments, Statement of Earnings Information (Details) - Designated as hedging instrument [Member] - Commodity Contract [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss)	$ 6,863	$ 5,084	$ 2,836
Electric operating revenues [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss)	7,156	4,491	1,727
Cost of energy [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss)	$ (293)	$ 593	$ 1,109

Fair Value of Derivative and 65

Fair Value of Derivative and Other Financial Instruments, Margin, Notional Amounts, Credit Rating (Details) - PNMR and PNM [Member] MWh in Thousands, MMBTU in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)MWhMMBTU	Dec. 31, 2014USD ($)MWhMMBTU
Derivative [Line Items]
Contractual Liability	$ 839	$ 1,686
Existing Cash Collateral	0	0
Net Exposure	$ 839	$ 167
Long [Member] | Commodity Contract [Member] | Economic hedges [Member]
Derivative [Line Items]
Power-related contracts | MMBTU	577,481	650,000
Short [Member] | Commodity Contract [Member] | Economic hedges [Member]
Derivative [Line Items]
Power-related contracts | MWh	3,405,843	1,919,000

Fair Value of Derivative and 66

Fair Value of Derivative and Other Financial Instruments, Sale of Power (Details) - PNMR and PNM [Member] - Palo Verde Nuclear Generating Station Unit 3 [Member]	Dec. 31, 2015$ / MWhMW
Sale of Power [Line Items]
Number of megawatts not included in retail rates (in megawatts) | MW	134
Percentage of electric power plant output sold or contracted to sell	100.00%
Commodity Contract [Member]
Sale of Power [Line Items]
Derivative, average forward price (in dollars per megawatt hour) | $ / MWh	26

Fair Value of Derivative and 67

Fair Value of Derivative and Other Financial Instruments, Available for Sale Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Realized impairment loss	$ 4,300,000	$ 700,000	$ 600,000
PNMR and PNM [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	259,042,000	250,145,000
Unrealized Gains	28,820,000	46,348,000
Proceeds from sales	252,174,000	117,989,000	271,140,000
Gross realized gains	29,663,000	15,162,000	14,308,000
Gross realized (losses)	(9,259,000)	(3,964,000)	$ (4,298,000)
Value of other than temporary impairments	0
PNMR and PNM [Member] | Cash and equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	10,700,000	8,276,000
Unrealized Gains	0	0
PNMR and PNM [Member] | Domestic value [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	44,505,000	45,340,000
Unrealized Gains	11,610,000	17,418,000
PNMR and PNM [Member] | Domestic growth [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	61,078,000	74,053,000
Unrealized Gains	11,163,000	21,354,000
PNMR and PNM [Member] | International and other [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	27,961,000	16,599,000
Unrealized Gains	1,569,000	156,000
PNMR and PNM [Member] | U.S. Government [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	27,880,000	22,563,000
Unrealized Gains	178,000	903,000
PNMR and PNM [Member] | Municipals [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	58,576,000	68,973,000
Unrealized Gains	3,672,000	5,851,000
PNMR and PNM [Member] | Corporate and other [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	28,342,000	14,341,000
Unrealized Gains	628,000	666,000
PNMR and PNM [Member] | Measured on a recurring basis [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	259,042,000	250,145,000
PNMR and PNM [Member] | Measured on a recurring basis [Member] | Nuclear Decommissioning Trust [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	249,100,000	244,600,000
PNMR and PNM [Member] | Measured on a recurring basis [Member] | Mine Reclamation Trust [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	9,900,000	5,500,000
PNMR and PNM [Member] | Measured on a recurring basis [Member] | Cash and equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	10,700,000	8,276,000
PNMR and PNM [Member] | Measured on a recurring basis [Member] | Domestic value [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	44,505,000	45,340,000
PNMR and PNM [Member] | Measured on a recurring basis [Member] | Domestic growth [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	61,078,000	74,053,000
PNMR and PNM [Member] | Measured on a recurring basis [Member] | International and other [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	27,961,000	16,599,000
PNMR and PNM [Member] | Measured on a recurring basis [Member] | U.S. Government [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	27,880,000	22,563,000
PNMR and PNM [Member] | Measured on a recurring basis [Member] | Municipals [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	58,576,000	68,973,000
PNMR and PNM [Member] | Measured on a recurring basis [Member] | Corporate and other [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	$ 28,342,000	$ 14,341,000

Fair Value of Derivative and 68

Fair Value of Derivative and Other Financial Instruments - Maturities of Debt Securities (Details) $ in Thousands	Dec. 31, 2015USD ($)
PNMR and PNM [Member]
Available-for-Sale
Within 1 year	$ 3,858
After 1 year through 5 years	24,136
After 5 years through 10 years	26,401
After 10 years through 15 years	10,843
After 15 years through 20 years	10,815
After 20 years	38,745
Available-for-sale debt securities	114,798
PNM Resources [Member]
Held-to-Maturity
Within 1 year	8,947
After 1 year through 5 years	665
After 5 years through 10 years	0
After 10 years through 15 years	0
After 15 years through 20 years	0
After 20 years	0
Held-to-maturity debt securities	9,612
Public Service Company of New Mexico [Member]
Held-to-Maturity
Within 1 year	8,947
After 1 year through 5 years	0
After 5 years through 10 years	0
After 10 years through 15 years	0
After 15 years through 20 years	0
After 20 years	0
Held-to-maturity debt securities	$ 8,947

Fair Value of Derivative and 69

Fair Value of Derivative and Other Financial Instruments - Items Recorded at Fair Value (Details) - PNMR and PNM [Member] - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 259,042	$ 250,145
Cash and equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	10,700	8,276
Domestic value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	44,505	45,340
Domestic growth [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	61,078	74,053
International and other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	27,961	16,599
U.S. Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	27,880	22,563
Municipals [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	58,576	68,973
Corporate and other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	28,342	14,341
Measured on a recurring basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	259,042	250,145
Measured on a recurring basis [Member] | Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative assets	6,435	11,232
Commodity derivative liabilities	(1,859)	(1,686)
Commodity derivative instruments, Net	4,576	9,546
Measured on a recurring basis [Member] | Cash and equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	10,700	8,276
Measured on a recurring basis [Member] | Domestic value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	44,505	45,340
Measured on a recurring basis [Member] | Domestic growth [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	61,078	74,053
Measured on a recurring basis [Member] | International and other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	27,961	16,599
Measured on a recurring basis [Member] | U.S. Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	27,880	22,563
Measured on a recurring basis [Member] | Municipals [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	58,576	68,973
Measured on a recurring basis [Member] | Corporate and other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	28,342	14,341
Measured on a recurring basis [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	177,352	169,919
Measured on a recurring basis [Member] | Level 1 [Member] | Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative assets	0	0
Commodity derivative liabilities	0	0
Commodity derivative instruments, Net	0	0
Measured on a recurring basis [Member] | Level 1 [Member] | Cash and equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	10,700	8,276
Measured on a recurring basis [Member] | Level 1 [Member] | Domestic value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	44,505	45,340
Measured on a recurring basis [Member] | Level 1 [Member] | Domestic growth [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	61,078	74,053
Measured on a recurring basis [Member] | Level 1 [Member] | International and other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	27,961	16,599
Measured on a recurring basis [Member] | Level 1 [Member] | U.S. Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	26,608	20,808
Measured on a recurring basis [Member] | Level 1 [Member] | Municipals [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Measured on a recurring basis [Member] | Level 1 [Member] | Corporate and other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,500	4,843
Measured on a recurring basis [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	81,690	80,226
Measured on a recurring basis [Member] | Level 2 [Member] | Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative assets	6,435	11,232
Commodity derivative liabilities	(1,859)	(1,686)
Commodity derivative instruments, Net	4,576	9,546
Measured on a recurring basis [Member] | Level 2 [Member] | Cash and equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Measured on a recurring basis [Member] | Level 2 [Member] | Domestic value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Measured on a recurring basis [Member] | Level 2 [Member] | Domestic growth [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Measured on a recurring basis [Member] | Level 2 [Member] | International and other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Measured on a recurring basis [Member] | Level 2 [Member] | U.S. Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,272	1,755
Measured on a recurring basis [Member] | Level 2 [Member] | Municipals [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	58,576	68,973
Measured on a recurring basis [Member] | Level 2 [Member] | Corporate and other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 21,842	$ 9,498

Fair Value of Derivative and 70

Fair Value of Derivative and Other Financial Instruments - Items not Recorded at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
PNMR [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 2,264,869	$ 2,173,117
Investment in PVNGS lessor notes	8,947	32,836
Other investments	1,269	2,375
PNMR [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	2,091,948	1,962,385
Investment in PVNGS lessor notes	8,587	31,232
Other investments	604	1,762
PNMR [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	0	0
Investment in PVNGS lessor notes	0	0
Other investments	604	639
PNMR [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	2,264,869	2,173,117
Investment in PVNGS lessor notes	0	0
Other investments	0	0
PNMR [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	0	0
Investment in PVNGS lessor notes	8,947	32,836
Other investments	665	1,736
Public Service Company of New Mexico [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	1,703,209	1,624,222
Investment in PVNGS lessor notes	8,947	32,836
Other investments	366	397
Public Service Company of New Mexico [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	1,580,677	1,482,537
Investment in PVNGS lessor notes	8,587	31,232
Other investments	366	397
Public Service Company of New Mexico [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	0	0
Investment in PVNGS lessor notes	0	0
Other investments	366	397
Public Service Company of New Mexico [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	1,703,209	1,624,222
Investment in PVNGS lessor notes	0	0
Other investments	0	0
Public Service Company of New Mexico [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	0	0
Investment in PVNGS lessor notes	8,947	32,836
Other investments	0	0
Texas-New Mexico Power Company [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	411,661	427,356
Other investments	238	242
Texas-New Mexico Power Company [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	361,411	361,241
Other investments	238	242
Texas-New Mexico Power Company [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	0	0
Other investments	238	242
Texas-New Mexico Power Company [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	411,661	427,356
Other investments	0	0
Texas-New Mexico Power Company [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	0	0
Other investments	$ 0	$ 0

Fair Value of Derivative and 71

Fair Value of Derivative and Other Financial Instruments, Defined Benefit Plans Disclosure (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Public Service Company of New Mexico [Member] | Pension Plan [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	$ 587,909	$ 556,353
Fair value of plan assets at end of year	557,923	587,909
Public Service Company of New Mexico [Member] | Pension Plan [Member] | PNMR Master Trust [Member] | Fair Value Measurement [Domain]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	523,142
Fair value of plan assets at end of year	479,858	523,142
Public Service Company of New Mexico [Member] | Pension Plan [Member] | PNMR Master Trust [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	588,112
Fair value of plan assets at end of year	558,319	588,112
Public Service Company of New Mexico [Member] | Pension Plan [Member] | PNMR Master Trust [Member] | Estimate of Fair Value Measurement [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	64,970
Fair value of plan assets at end of year	78,461	64,970
Public Service Company of New Mexico [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets owned	74,139	79,018
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	78,175	73,565
Fair value of plan assets at end of year	72,952	78,175
Public Service Company of New Mexico [Member] | Other Postretirement Benefits [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	1,242
Fair value of plan assets at end of year	1,512	1,242
Public Service Company of New Mexico [Member] | Other Postretirement Benefits [Member] | Equity Securities, International Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	10,332
Fair value of plan assets at end of year	10,604	10,332
Public Service Company of New Mexico [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Value [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	8,365
Fair value of plan assets at end of year	9,367	8,365
Public Service Company of New Mexico [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Growth [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	5,960
Fair value of plan assets at end of year	5,894	5,960
Public Service Company of New Mexico [Member] | Other Postretirement Benefits [Member] | Equity Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	30,997
Fair value of plan assets at end of year	28,419	30,997
Public Service Company of New Mexico [Member] | Other Postretirement Benefits [Member] | Fixed income securities, Mutual funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	22,122
Fair value of plan assets at end of year	18,343	22,122
Public Service Company of New Mexico [Member] | Level 1 [Member] | Pension Plan [Member] | PNMR Master Trust [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	123,668
Fair value of plan assets at end of year	111,441	123,668
Public Service Company of New Mexico [Member] | Level 1 [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets owned	35,116	37,689
Public Service Company of New Mexico [Member] | Level 1 [Member] | Other Postretirement Benefits [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	1,242
Fair value of plan assets at end of year	1,512	1,242
Public Service Company of New Mexico [Member] | Level 1 [Member] | Other Postretirement Benefits [Member] | Equity Securities, International Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Public Service Company of New Mexico [Member] | Level 1 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Value [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	8,365
Fair value of plan assets at end of year	9,367	8,365
Public Service Company of New Mexico [Member] | Level 1 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Growth [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	5,960
Fair value of plan assets at end of year	5,894	5,960
Public Service Company of New Mexico [Member] | Level 1 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Public Service Company of New Mexico [Member] | Level 1 [Member] | Other Postretirement Benefits [Member] | Fixed income securities, Mutual funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	22,122
Fair value of plan assets at end of year	18,343	22,122
Public Service Company of New Mexico [Member] | Level 2 [Member] | Pension Plan [Member] | PNMR Master Trust [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	398,819
Fair value of plan assets at end of year	367,698	398,819
Public Service Company of New Mexico [Member] | Level 2 [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets owned	39,023	41,329
Public Service Company of New Mexico [Member] | Level 2 [Member] | Other Postretirement Benefits [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Public Service Company of New Mexico [Member] | Level 2 [Member] | Other Postretirement Benefits [Member] | Equity Securities, International Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	10,332
Fair value of plan assets at end of year	10,604	10,332
Public Service Company of New Mexico [Member] | Level 2 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Value [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Public Service Company of New Mexico [Member] | Level 2 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Growth [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Public Service Company of New Mexico [Member] | Level 2 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	30,997
Fair value of plan assets at end of year	28,419	30,997
Public Service Company of New Mexico [Member] | Level 2 [Member] | Other Postretirement Benefits [Member] | Fixed income securities, Mutual funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Public Service Company of New Mexico [Member] | Level 3 [Member] | Fixed Income Securities, Corporate [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year		160
Actual return on assets sold during the period	0	0
Actual return on assets still held at period end	(1)	(18)
Purchases	177	546
Sales	(112)	(33)
Public Service Company of New Mexico [Member] | Level 3 [Member] | Pension Plan [Member] | PNMR Master Trust [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	655
Fair value of plan assets at end of year	719	655
Public Service Company of New Mexico [Member] | Level 3 [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets owned	0	0
Public Service Company of New Mexico [Member] | Level 3 [Member] | Other Postretirement Benefits [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Public Service Company of New Mexico [Member] | Level 3 [Member] | Other Postretirement Benefits [Member] | Equity Securities, International Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Public Service Company of New Mexico [Member] | Level 3 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Value [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Public Service Company of New Mexico [Member] | Level 3 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Growth [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Public Service Company of New Mexico [Member] | Level 3 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Public Service Company of New Mexico [Member] | Level 3 [Member] | Other Postretirement Benefits [Member] | Fixed income securities, Mutual funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Texas-New Mexico Power Company [Member] | Pension Plan [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	69,177	66,118
Fair value of plan assets at end of year	62,082	69,177
Texas-New Mexico Power Company [Member] | Pension Plan [Member] | PNMR Master Trust [Member] | Fair Value Measurement [Domain]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	59,320
Fair value of plan assets at end of year	52,163	59,320
Texas-New Mexico Power Company [Member] | Pension Plan [Member] | PNMR Master Trust [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	69,207
Fair value of plan assets at end of year	62,131	69,207
Texas-New Mexico Power Company [Member] | Pension Plan [Member] | PNMR Master Trust [Member] | Estimate of Fair Value Measurement [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	9,887
Fair value of plan assets at end of year	9,968	9,887
Texas-New Mexico Power Company [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets owned	9,290	10,211
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	10,094	9,601
Fair value of plan assets at end of year	9,111	10,094
Texas-New Mexico Power Company [Member] | Other Postretirement Benefits [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	168
Fair value of plan assets at end of year	128	168
Texas-New Mexico Power Company [Member] | Other Postretirement Benefits [Member] | Equity Securities, International Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	1,277
Fair value of plan assets at end of year	1,310	1,277
Texas-New Mexico Power Company [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Value [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	403
Fair value of plan assets at end of year	367	403
Texas-New Mexico Power Company [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Growth [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	1,024
Fair value of plan assets at end of year	1,013	1,024
Texas-New Mexico Power Company [Member] | Other Postretirement Benefits [Member] | Equity Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	3,790
Fair value of plan assets at end of year	3,397	3,790
Texas-New Mexico Power Company [Member] | Other Postretirement Benefits [Member] | Fixed income securities, Mutual funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	3,549
Fair value of plan assets at end of year	3,075	3,549
Texas-New Mexico Power Company [Member] | Level 1 [Member] | Pension Plan [Member] | PNMR Master Trust [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	14,823
Fair value of plan assets at end of year	12,199	14,823
Texas-New Mexico Power Company [Member] | Level 1 [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets owned	4,583	5,144
Texas-New Mexico Power Company [Member] | Level 1 [Member] | Other Postretirement Benefits [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	168
Fair value of plan assets at end of year	128	168
Texas-New Mexico Power Company [Member] | Level 1 [Member] | Other Postretirement Benefits [Member] | Equity Securities, International Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Texas-New Mexico Power Company [Member] | Level 1 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Value [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	403
Fair value of plan assets at end of year	367	403
Texas-New Mexico Power Company [Member] | Level 1 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Growth [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	1,024
Fair value of plan assets at end of year	1,013	1,024
Texas-New Mexico Power Company [Member] | Level 1 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Texas-New Mexico Power Company [Member] | Level 1 [Member] | Other Postretirement Benefits [Member] | Fixed income securities, Mutual funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	3,549
Fair value of plan assets at end of year	3,075	3,549
Texas-New Mexico Power Company [Member] | Level 2 [Member] | Pension Plan [Member] | PNMR Master Trust [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	44,425
Fair value of plan assets at end of year	39,886	44,425
Texas-New Mexico Power Company [Member] | Level 2 [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets owned	4,707	5,067
Texas-New Mexico Power Company [Member] | Level 2 [Member] | Other Postretirement Benefits [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Texas-New Mexico Power Company [Member] | Level 2 [Member] | Other Postretirement Benefits [Member] | Equity Securities, International Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	1,277
Fair value of plan assets at end of year	1,310	1,277
Texas-New Mexico Power Company [Member] | Level 2 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Value [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Texas-New Mexico Power Company [Member] | Level 2 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Growth [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Texas-New Mexico Power Company [Member] | Level 2 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	3,790
Fair value of plan assets at end of year	3,397	3,790
Texas-New Mexico Power Company [Member] | Level 2 [Member] | Other Postretirement Benefits [Member] | Fixed income securities, Mutual funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Texas-New Mexico Power Company [Member] | Level 3 [Member] | Fixed Income Securities, Corporate [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year		16
Actual return on assets sold during the period	0	0
Actual return on assets still held at period end	0	(2)
Purchases	17	62
Sales	(11)	(4)
Texas-New Mexico Power Company [Member] | Level 3 [Member] | Pension Plan [Member] | PNMR Master Trust [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	72
Fair value of plan assets at end of year	78	72
Texas-New Mexico Power Company [Member] | Level 3 [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets owned	0	0
Texas-New Mexico Power Company [Member] | Level 3 [Member] | Other Postretirement Benefits [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Texas-New Mexico Power Company [Member] | Level 3 [Member] | Other Postretirement Benefits [Member] | Equity Securities, International Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Texas-New Mexico Power Company [Member] | Level 3 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Value [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Texas-New Mexico Power Company [Member] | Level 3 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Domestic Growth [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Texas-New Mexico Power Company [Member] | Level 3 [Member] | Other Postretirement Benefits [Member] | Equity Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
Texas-New Mexico Power Company [Member] | Level 3 [Member] | Other Postretirement Benefits [Member] | Fixed income securities, Mutual funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Fair Value Measurement [Domain]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	582,462
Fair value of plan assets at end of year	532,021	582,462
PNMR [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	657,319
Fair value of plan assets at end of year	620,450	657,319
PNMR [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	15,645
Fair value of plan assets at end of year	14,525	15,645
PNMR [Member] | Equity Securities, International Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	23,282
Fair value of plan assets at end of year	36,675	23,282
PNMR [Member] | Equity Securities, Domestic Value [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	41,778
Fair value of plan assets at end of year	34,769	41,778
PNMR [Member] | Equity Securities, Domestic Growth [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	28,370
Fair value of plan assets at end of year	25,407	28,370
PNMR [Member] | Equity Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	29,719
Fair value of plan assets at end of year	30,531	29,719
PNMR [Member] | Fixed Income Securities, Corporate [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	242,742
Fair value of plan assets at end of year	214,218	242,742
PNMR [Member] | Fixed Income Securities, U.S. Government [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	106,634
Fair value of plan assets at end of year	98,138	106,634
PNMR [Member] | Fixed Income Securities, Municipals [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	20,156
Fair value of plan assets at end of year	16,647	20,156
PNMR [Member] | Fixed Income Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	74,136
Fair value of plan assets at end of year	61,111	74,136
PNMR [Member] | Private Equity Funds [Member] | Estimate of Fair Value Measurement [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	37,220
Fair value of plan assets at end of year	32,333	37,220
PNMR [Member] | Hedge Funds [Member] | Estimate of Fair Value Measurement [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	23,876
Fair value of plan assets at end of year	40,731	23,876
PNMR [Member] | Real Estate [Member] | Estimate of Fair Value Measurement [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	13,761
Fair value of plan assets at end of year	15,365	13,761
PNMR [Member] | Level 1 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	138,491
Fair value of plan assets at end of year	123,640	138,491
PNMR [Member] | Level 1 [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	15,645
Fair value of plan assets at end of year	14,525	15,645
PNMR [Member] | Level 1 [Member] | Equity Securities, International Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 1 [Member] | Equity Securities, Domestic Value [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	41,778
Fair value of plan assets at end of year	34,769	41,778
PNMR [Member] | Level 1 [Member] | Equity Securities, Domestic Growth [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	28,370
Fair value of plan assets at end of year	25,407	28,370
PNMR [Member] | Level 1 [Member] | Equity Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 1 [Member] | Fixed Income Securities, Corporate [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 1 [Member] | Fixed Income Securities, U.S. Government [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	52,537
Fair value of plan assets at end of year	48,936	52,537
PNMR [Member] | Level 1 [Member] | Fixed Income Securities, Municipals [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 1 [Member] | Fixed Income Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	161
Fair value of plan assets at end of year	3	161
PNMR [Member] | Level 2 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	443,244
Fair value of plan assets at end of year	407,584	443,244
PNMR [Member] | Level 2 [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 2 [Member] | Equity Securities, International Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	23,282
Fair value of plan assets at end of year	36,675	23,282
PNMR [Member] | Level 2 [Member] | Equity Securities, Domestic Value [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 2 [Member] | Equity Securities, Domestic Growth [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 2 [Member] | Equity Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	29,719
Fair value of plan assets at end of year	30,531	29,719
PNMR [Member] | Level 2 [Member] | Fixed Income Securities, Corporate [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	242,015
Fair value of plan assets at end of year	213,421	242,015
PNMR [Member] | Level 2 [Member] | Fixed Income Securities, U.S. Government [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	54,097
Fair value of plan assets at end of year	49,202	54,097
PNMR [Member] | Level 2 [Member] | Fixed Income Securities, Municipals [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	20,156
Fair value of plan assets at end of year	16,647	20,156
PNMR [Member] | Level 2 [Member] | Fixed Income Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	73,975
Fair value of plan assets at end of year	61,108	73,975
PNMR [Member] | Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	727
Fair value of plan assets at end of year	797	727
PNMR [Member] | Level 3 [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 3 [Member] | Equity Securities, International Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 3 [Member] | Equity Securities, Domestic Value [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 3 [Member] | Equity Securities, Domestic Growth [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 3 [Member] | Equity Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 3 [Member] | Fixed Income Securities, Corporate [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	727	176
Actual return on assets sold during the period	0	0
Actual return on assets still held at period end	(1)	(20)
Purchases	194	608
Sales	(123)	(37)
Fair value of plan assets at end of year	797	727
PNMR [Member] | Level 3 [Member] | Fixed Income Securities, U.S. Government [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 3 [Member] | Fixed Income Securities, Municipals [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 3 [Member] | Fixed Income Securities, Other Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	0
Fair value of plan assets at end of year	0	0
PNMR [Member] | Level 3 [Member] | Private Equity Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	655
Fair value of plan assets at end of year	719	655
PNMR [Member] | Level 3 [Member] | Hedge Funds [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	72
Fair value of plan assets at end of year	$ 78	$ 72

Variable Interest Entities (Det

Variable Interest Entities (Details) $ in Thousands	3 Months Ended	7 Months Ended	12 Months Ended
	Sep. 30, 2015	Jul. 16, 2014USD ($)	Dec. 31, 2015USD ($)InstitutionalInvestorsMW	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Jul. 17, 2014USD ($)	Oct. 08, 2013USD ($)	May. 30, 2008USD ($)
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Current assets			$ 385,570	$ 406,434
Total assets			6,009,328	5,790,237	$ 5,426,858
Current liabilities			641,120	704,087
Owners’ equity – non-controlling interest			71,407	73,546
Net Income (Loss) Attributable to Noncontrolling Interest			$ 14,910	14,127	14,521
Public Service Company of New Mexico [Member]
Variable Interest Entity [Line Items]
Number of different institutional investors of trust lessors | InstitutionalInvestors			5
Accrued lease payments			$ 28,496
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Current assets			357,757	368,988
Total assets			4,599,344	4,453,114
Current liabilities			316,921	415,501
Owners’ equity – non-controlling interest			71,407	73,546
Net Income (Loss) Attributable to Noncontrolling Interest			$ 14,910	14,127	14,521
Public Service Company of New Mexico [Member] | Delta [Member]
Variable Interest Entity [Line Items]
Long term contract for purchase of electric power fixed costs		$ 3,500			6,400
Long term contract for purchase of electric power variable charges		600			1,800
Payments to acquire businesses, net		$ 22,800
Project financing debt, amount at closing						$ 14,600
Recorded plant in service						58,100
Accumulated depreciation						23,500
Current assets						3,600
Deferred charges						3,400
Current liabilities						300
Non-current regulatory liabilities						$ 3,400
Valencia [Member] | Public Service Company of New Mexico [Member]
Variable Interest Entity [Line Items]
Number of mega watts purchased (in megawatts) | MW			158
Power plant total construction costs								$ 90,000
Long term contract for purchase of electric power fixed costs			$ 17,500	19,100	18,900
Long term contract for purchase of electric power variable charges			$ 1,500	1,200	1,200
Long term contract option to purchase, purchase price - percentage of adjusted NBV			50.00%
Long term contract option to purchase, purchase price - percentage of FMV	50.00%
Long term contract option to purchase, number of days to set FMV			60 days
Long term contract option to purchase, estimated purchase price							$ 85,000
Long term contract option to purchase, approximate approval period			15 months
Long term contract option to purchase, ownership percentage			50.00%
Number of years the operating licenses for plants were extended			20 years
Variable Interest Entity, Statement Of Operation [Abstract]
Operating revenues			$ 20,687	20,247	20,166
Operating expenses			(5,777)	(6,120)	(5,645)
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Current assets			2,588	2,513
Net property, plant and equipment			69,784	72,321
Total assets			72,372	74,834
Current liabilities			965	1,288
Owners’ equity – non-controlling interest			71,407	73,546
Net Income (Loss) Attributable to Noncontrolling Interest			$ 14,910	14,127	$ 14,521
Valencia [Member] | Public Service Company of New Mexico [Member] | Maximum [Member]
Variable Interest Entity [Line Items]
Jointly owned utility plant, option to purchase proportionate ownership share			50.00%				50.00%
PVNGS [Member] | Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member]
Variable Interest Entity [Line Items]
Accrued lease payments			$ 18,400	$ 26,000
Delta [Member] | Public Service Company of New Mexico [Member]
Variable Interest Entity [Line Items]
Period of long term contract for purchase of electric power, fixed costs			20 years

Earnings and Dividends Per Sh73

Earnings and Dividends Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Earnings Attributable to PNMR	$ (91,418)	$ 61,045	$ 31,673	$ 14,340	$ 18,992	$ 55,653	$ 29,141	$ 12,468	$ 15,640	$ 116,254	$ 100,507
Average Number of Common Shares:
Outstanding during year (in shares)									79,654,000	79,654,000	79,654,000
Vested awards of restricted stock (in shares)									105,000	134,000	191,000
Average Shares – Basic (in shares)									79,759,000	79,788,000	79,845,000
Dilutive Effect of Common Stock Equivalents:
Stock options and restricted stock (in shares)									380,000	491,000	586,000
Average Shares – Diluted (in shares)									80,139,000	80,279,000	80,431,000
Net Earnings Per Share of Common Stock:
Basic (dollars per share)	$ (1.15)	$ 0.77	$ 0.40	$ 0.18	$ 0.24	$ 0.70	$ 0.37	$ 0.16	$ 0.20	$ 1.46	$ 1.26
Diluted (dollars per share)	$ (1.15)	$ 0.76	$ 0.40	$ 0.18	$ 0.24	$ 0.69	$ 0.36	$ 0.16	0.20	1.45	1.25
Dividends Declared per Common Share (in dollars per share)									$ 0.82	$ 0.755	$ 0.68
Shares of common stock (in shares)									2,100

Income Taxes Schedule of Compon

Income Taxes Schedule of Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Line Items]
Current federal income tax	$ 0	$ (2,015)	$ 0
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 (benefit)	15,075	69,738	59,513
Public Service Company of New Mexico [Member]
Income Taxes [Line Items]
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
Texas-New Mexico Power Company [Member]
Income Taxes [Line Items]
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 (benefit)	$ 24,125	$ 22,523	$ 17,621

Income Taxes Schedule of Effect

Income Taxes Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Line Items]
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	0
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	0	0
Impairment of charitable contribution carryforward	2,042	0	0
Other	(2,811)	(2,522)	(1,783)
Total income taxes (benefit)	$ 15,075	$ 69,738	$ 59,513
Effective tax rate	32.66%	34.76%	33.99%
Public Service Company of New Mexico [Member]
Income Taxes [Line Items]
Federal income tax 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	0
Allowance for equity funds used during construction	(3,650)	(1,947)	(1,534)
Reversal of deferred items related to BART at SJGS	1,826	0	0
Impairment of charitable contribution carryforward	(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%
Texas-New Mexico Power Company [Member]
Income Taxes [Line Items]
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 (benefit)	$ 24,125	$ 22,523	$ 17,621
Effective tax rate	36.50%	37.33%	37.72%

Income Taxes Schedule of Deferr

Income Taxes Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
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	0
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)
Current accumulated deferred income tax (asset) liability	(877,393)	(864,728)
Non-current accumulated deferred income tax liability	(877,393)	(864,728)
Public Service Company of New Mexico [Member]
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	0
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)
Current accumulated deferred income tax (asset) liability	(696,384)	(703,396)
Non-current accumulated deferred income tax liability	(696,384)	(703,396)
Texas-New Mexico Power Company [Member]
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)
Regulatory assets related to income taxes	(10,036)	(10,273)
Loss on reacquired debt	(12,392)	(12,846)
CTC	(16,151)	(19,352)
Other	(15,733)	(12,560)
Total deferred tax liabilities	(243,634)	(229,541)
Current accumulated deferred income tax (asset) liability	(232,791)	(211,547)
Non-current accumulated deferred income tax liability	$ (232,791)	$ (211,547)

Income Taxes Schedule of Defe77

Income Taxes Schedule of Deferred Income Tax Components (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Line Items]
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)
Reclassification of unrecognized tax benefits	(8,576)
Reclassification of unrecognized tax benefits	8,576
Other	(555)
Deferred income taxes	16,451	$ 72,481	$ 60,430
Public Service Company of New Mexico [Member]
Income Taxes [Line Items]
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)
Reclassification of unrecognized tax benefits	(8,576)
Reclassification of unrecognized tax benefits	8,576
Other	(305)
Deferred income taxes	(2,836)	55,787	50,043
Texas-New Mexico Power Company [Member]
Income Taxes [Line Items]
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	$ 20,549	$ 20,662

Income Taxes Summary of Income

Income Taxes Summary of Income Tax Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 15,031	$ 19,889	$ 19,198
Additions based on tax positions			(54)
Additions based on tax positions	1,214	623
Additions (reductions) for tax positions of prior years	(9,790)	(5,481)
Additions (reductions) for tax positions of prior years			(745)
Settlement payments	0	0	0
Ending balance	6,455	15,031	19,889
Public Service Company of New Mexico [Member]
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	12,228	11,073	10,382
Additions based on tax positions			(54)
Additions based on tax positions	1,214	623
Additions (reductions) for tax positions of prior years	(9,790)
Additions (reductions) for tax positions of prior years		532	(745)
Settlement payments	0	0	0
Ending balance	3,652	12,228	11,073
Unrecognized tax benefits that would impact effective tax rate	3,100
Texas-New Mexico Power Company [Member]
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	0	6,796	6,796
Additions based on tax positions			0
Additions based on tax positions	0	0
Additions (reductions) for tax positions of prior years	0	(6,796)
Additions (reductions) for tax positions of prior years			0
Settlement payments	0	0	0
Ending balance	0	$ 0	$ 6,796
PNMR [Member]
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits that would impact effective tax rate	$ 5,900

Income Taxes Interest Income (E

Income Taxes Interest Income (Expense) Related to Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Line Items]
Interest income related to income taxes	$ 0	$ 146	$ 242
Public Service Company of New Mexico [Member]
Income Taxes [Line Items]
Interest income related to income taxes	0	148	251
Texas-New Mexico Power Company [Member]
Income Taxes [Line Items]
Interest income related to income taxes	$ 0	$ (2)	$ (2)

Income Taxes Accumulated Accrue

Income Taxes Accumulated Accrued Interest Receivable (Payable) Related to Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
PNMR [Member]
Income Taxes [Line Items]
Accumulated accrued interest receivable	$ 3,236	$ 3,569
Accumulated accrued interest payable	(1,120)	(1,120)
Public Service Company of New Mexico [Member]
Income Taxes [Line Items]
Accumulated accrued interest receivable	3,236	3,569
Accumulated accrued interest payable	(24)	(24)
Texas-New Mexico Power Company [Member]
Income Taxes [Line Items]
Accumulated accrued interest receivable	0	0
Accumulated accrued interest payable	$ (120)	$ (120)

Income Taxes Carryforwards (Det

Income Taxes Carryforwards (Details) - USD ($)	1 Months Ended	12 Months Ended
	May. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating Loss Carryforwards [Line Items]
New Mexico corporate tax rate being phased in		7.60%
New Mexico Corporate tax rate, effective by 2018		5.90%
Decrease in regulatory liabilities due to change in state corporate tax rate		$ (1,903,000)	$ (5,106,000)
Decrease in income tax expense due to tax rate change		(674,000)	(71,000)
Increase in regulatory liabilities due to change in state corporate tax rate				$ 23,896,000
Increase in income tax expense due to change in state corporate tax rate				1,233,000
State tax credit carryforwards, impairments		3,092,000	894,000	3,880,000
State net operating loss carryforward, impairment		5,278,000	3,129,000
Charitable contribution carryforward, Impairment		2,042,000
State tax credit carryforwards, reserve balances		6,378,000	5,492,000
State net operating loss carryforwards, reserve balances		361,000	3,129,000
Charitable contribution carryforwards, reserve balances		659,000
Total refunds	$ 96,200,000
Liability (refund) adjustment from settlement with taxing authority			2,000,000
Income tax expense (benefit)		15,075,000	69,738,000	59,513,000
Adjustments for New Accounting Pronouncement [Member]
Operating Loss Carryforwards [Line Items]
Amounts reclassified		26,400,000
Corporate and Other [Member]
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)		3,708,000	(5,418,000)	(6,912,000)
Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards [Line Items]
Federal net operating loss carryforwards		427,400,000
Federal tax credit carryforwards that expire beginning in 2023		77,400,000
Income tax expense (benefit)			(200,000)
Internal Revenue Service (IRS) [Member] | Corporate and Other [Member]
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)			(1,300,000)
Public Service Company of New Mexico [Member]
Operating Loss Carryforwards [Line Items]
Decrease in regulatory liabilities due to change in state corporate tax rate		(1,903,000)	(5,106,000)
Decrease in income tax expense due to tax rate change		(470,000)	(312,000)
Increase in regulatory liabilities due to change in state corporate tax rate				23,896,000
Increase in income tax expense due to change in state corporate tax rate				0
State tax credit carryforwards, impairments		0	0	0
State net operating loss carryforward, impairment		3,619,000	2,145,000
Charitable contribution carryforward, Impairment		0
State tax credit carryforwards, reserve balances		0	0
State net operating loss carryforwards, reserve balances		248,000	2,145,000
Charitable contribution carryforwards, reserve balances		0
Total refunds	$ 77,400,000
Income tax expense (benefit)		(12,758,000)	52,633,000	48,804,000
Public Service Company of New Mexico [Member] | Adjustments for New Accounting Pronouncement [Member]
Operating Loss Carryforwards [Line Items]
Amounts reclassified		12,400,000
Public Service Company of New Mexico [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)			1,100,000
Texas-New Mexico Power Company [Member]
Operating Loss Carryforwards [Line Items]
Decrease in regulatory liabilities due to change in state corporate tax rate		0	0
Decrease in income tax expense due to tax rate change		0	0
Increase in regulatory liabilities due to change in state corporate tax rate				0
Increase in income tax expense due to change in state corporate tax rate				0
State tax credit carryforwards, impairments		0	0	0
State net operating loss carryforward, impairment		0	0
Charitable contribution carryforward, Impairment		0
State tax credit carryforwards, reserve balances		0	0
State net operating loss carryforwards, reserve balances		0	0
Charitable contribution carryforwards, reserve balances		0
Income tax expense (benefit)		24,125,000	22,523,000	$ 17,621,000
Texas-New Mexico Power Company [Member] | Adjustments for New Accounting Pronouncement [Member]
Operating Loss Carryforwards [Line Items]
Amounts reclassified		$ 6,400,000
Texas-New Mexico Power Company [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)			$ 0

Pension and Other Postretirem82

Pension and Other Postretirement Benefits Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected return on plan assets	4.00%
Amortization of gains and losses that are outside the corridor	5 years
Maximum annual contributions per employee	75.00%
Employer matching contribution, percent of employees' gross pay	6.00%
Minimum [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Non-matching contribution of eligible compensation based on eligible employee's age	3.00%
Maximum [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Non-matching contribution of eligible compensation based on eligible employee's age	10.00%
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected long-term return resulting from effect of 1% change	1.00%
Expected long-term return resulting from effect of one-percentage point increase (as a percent)	1.00%
Expected employer contributions to pension plans	$ 0
Pension Plan [Member] | Minimum [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average discount rate related to anticipated contributions	4.80%
Pension Plan [Member] | Maximum [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average discount rate related to anticipated contributions	5.70%
Pension Plan [Member] | Equity Securities [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target plan asset allocations	21.00%
Pension Plan [Member] | Equity Securities [Member] | Developed Countries Outside of United States [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target plan asset allocations	6.00%
Pension Plan [Member] | Debt Securities [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target plan asset allocations	65.00%
Pension Plan [Member] | Alternative Investments [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target plan asset allocations	14.00%
Other Postretirement Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected long-term return resulting from effect of 1% change	1.00%
Other Postretirement Benefits [Member] | Equity Securities [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target plan asset allocations	70.00%
Other Postretirement Benefits [Member] | Debt Securities [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target plan asset allocations	30.00%
Public Service Company of New Mexico [Member] | Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected return on plan assets	6.80%	7.20%	7.65%
Defined benefit plan, other changes	$ (45,900,000)	$ 50,600,000
Actuarial gain (loss) resulting from changes in demographics and other trends	(2,800,000)	(200,000)
Actuarial gain (loss) resulting from changes in other assumptions and experience	(4,900,000)	200,000
Increased PBO		$ 21,900,000
Expected long-term return on assets decrease resulting in increase net periodic costs In next fiscal year	$ 5,400,000
Actual rate of return for pension plans	(1.70%)
Actuarial gains (losses) recorded as regulatory assets	$ (11,397,000)
Public Service Company of New Mexico [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected return on plan assets	7.70%	8.50%	8.50%
Defined benefit plan, other changes	$ (7,300,000)	$ 6,700,000
Actuarial gain (loss) resulting from changes in demographics and other trends	(700,000)	5,400,000
Increased PBO		$ 3,200,000
Expected long-term return on assets decrease resulting in increase net periodic costs In next fiscal year	$ 700,000
Actual rate of return for pension plans	(0.80%)
Actuarial gains (losses) recorded as regulatory assets	$ 300,000
Estimated future employer contributions in next fiscal year	3,500,000
Estimated future employer contributions in years two through five	$ 14,000,000
Texas-New Mexico Power Company [Member] | Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected return on plan assets	6.80%	7.20%	7.65%
Defined benefit plan, other changes	$ (6,100,000)	$ 5,100,000
Actuarial gain (loss) resulting from changes in demographics and other trends	(900,000)	400,000
Actuarial gain (loss) resulting from changes in other assumptions and experience	(100,000)	(1,300,000)
Increased PBO		$ 2,500,000
Expected long-term return on assets decrease resulting in increase net periodic costs In next fiscal year	$ 600,000
Actual rate of return for pension plans	(1.70%)
Actuarial gains (losses) recorded as regulatory assets	$ (365,000)
Texas-New Mexico Power Company [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected return on plan assets	5.70%	6.50%	6.50%
Defined benefit plan, other changes	$ (1,300,000)	$ 1,100,000
Actuarial gain (loss) resulting from changes in demographics and other trends	(700,000)	(100,000)
Increased PBO		$ 500,000
Expected long-term return on assets decrease resulting in increase net periodic costs In next fiscal year	$ 100,000
Actual rate of return for pension plans	(0.50%)
Actuarial gains (losses) recorded as regulatory assets	$ (100,000)
Effect of 1%-point change in assumed health care cost trend rates on net periodic expense and APBO	0
Estimated future employer contributions in next fiscal year	300,000
Estimated future employer contributions in years two through five	$ 1,400,000

Pension and Other Postretirem83

Pension and Other Postretirement Benefits APBO, PBO, Fair Value of Plan Assets, and Funded Status of the Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Non-current liability	$ 73,097	$ 110,738
Public Service Company of New Mexico [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Non-current liability	66,285	102,850
Public Service Company of New Mexico [Member] | Pension Plan [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Beginning balance	657,557	599,537
Service cost	0	0	$ 0
Interest cost	28,255	30,163	28,142
Actuarial (gain) loss	(38,151)	72,524
Benefits paid	(49,761)	(44,667)
Ending balance	597,900	657,557	599,537
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	587,909	556,353
Actual return on plan assets	(10,225)	76,223
Employer contributions	30,000	0
Benefits paid	(49,761)	(44,667)
Fair value of plan assets at end of year	557,923	587,909	556,353
Funded status – asset (liability) for pension benefits	(39,977)	(69,648)
Public Service Company of New Mexico [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Beginning balance	95,175	92,165
Service cost	204	181	260
Interest cost	4,089	4,630	4,113
Participant contributions	2,439	2,582
Actuarial (gain) loss	(6,565)	4,455
Benefits paid	(10,668)	(8,838)
Ending balance	84,674	95,175	92,165
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	78,175	73,565
Actual return on plan assets	(617)	7,334
Employer contributions	3,623	3,532
Participant contributions	2,439	2,582
Benefits paid	(10,668)	(8,838)
Fair value of plan assets at end of year	72,952	78,175	73,565
Funded status – asset (liability) for pension benefits	(11,722)	(17,000)
Public Service Company of New Mexico [Member] | Executive Retirement Program [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Beginning balance	17,730	16,363
Service cost	0	0	0
Interest cost	760	822	720
Actuarial (gain) loss	(908)	2,040
Benefits paid	(1,477)	(1,495)
Ending balance	16,105	17,730	16,363
Less current liability	1,519	1,528
Non-current liability	14,586	16,202
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Benefits paid	(1,477)	(1,495)
Texas-New Mexico Power Company [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Non-current liability	6,812	7,888
Texas-New Mexico Power Company [Member] | Pension Plan [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Beginning balance	72,305	66,159
Service cost	0	0	0
Interest cost	3,043	3,193	3,087
Actuarial (gain) loss	(5,157)	8,466
Benefits paid	(5,993)	(5,513)
Ending balance	64,198	72,305	66,159
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	69,177	66,118
Actual return on plan assets	(1,102)	8,572
Employer contributions	0	0
Benefits paid	(5,993)	(5,513)
Fair value of plan assets at end of year	62,082	69,177	66,118
Funded status – asset (liability) for pension benefits	(2,116)	(3,128)
Texas-New Mexico Power Company [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Beginning balance	14,070	12,266
Service cost	247	237	299
Interest cost	608	619	566
Participant contributions	320	366
Actuarial (gain) loss	(575)	1,639
Benefits paid	(1,564)	(1,057)
Ending balance	13,106	14,070	12,266
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	10,094	9,601
Actual return on plan assets	(82)	841
Employer contributions	343	343
Participant contributions	320	366
Benefits paid	(1,564)	(1,057)
Fair value of plan assets at end of year	9,111	10,094	9,601
Funded status – asset (liability) for pension benefits	(3,995)	(3,976)
Texas-New Mexico Power Company [Member] | Executive Retirement Program [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Beginning balance	878	823
Service cost	0	0	0
Interest cost	36	39	36
Actuarial (gain) loss	(26)	110
Benefits paid	(94)	(94)
Ending balance	794	878	$ 823
Less current liability	93	94
Non-current liability	701	784
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Benefits paid	$ (94)	$ (94)

Pension and Other Postretirem84

Pension and Other Postretirement Benefits Pre-Tax Information about Prior Service Cost and Net Actuarial (Gain) loss in AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Public Service Company of New Mexico [Member] | Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Prior service cost (credit) - Amounts in AOCI not yet recognized in net periodic benefit cost (income) at beginning of year	$ (1,855)	$ (2,260)
Net actuarial (gain) loss - Amounts in AOCI not yet recognized in net periodic benefit cost (income) at beginning of year	146,775	148,212
Prior service cost (credit) - Experience loss (gain)	0
Net actuarial (gain) loss - Experience loss (gain)	11,397
Prior service cost (credit) - Regulatory asset (liability) adjustment	0
Net actuarial (gain) loss - Regulatory asset (liability) adjustment	(6,610)
Prior service cost (credit) - Amortization recognized in net periodic benefit cost (income)	405
Net actuarial (gain) loss - Amortization recognized in net periodic benefit cost (income)	(6,224)
Prior service cost (credit) - Amounts in AOCI not yet recognized in net periodic benefit cost (income) at end of year	(1,855)	(2,260)
Net actuarial (gain) loss - Amounts in AOCI not yet recognized in net periodic benefit cost (income) at end of year	146,775	148,212
Prior service cost (credit) - Amortization expected to be recognized in in 2015	(405)
Net actuarial (gain) loss - Amortization expected to be recognized in in 2015	5,399
Public Service Company of New Mexico [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (gain) loss - Experience loss (gain)	(300)
Public Service Company of New Mexico [Member] | Executive Retirement Program [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (gain) loss - Amounts in AOCI not yet recognized in net periodic benefit cost (income) at beginning of year	2,084	2,602
Net actuarial (gain) loss - Experience loss (gain)	(908)
Net actuarial (gain) loss - Regulatory asset (liability) adjustment	526
Net actuarial (gain) loss - Amortization recognized in net periodic benefit cost (income)	(136)
Net actuarial (gain) loss - Amounts in AOCI not yet recognized in net periodic benefit cost (income) at end of year	2,084	2,602
Net actuarial (gain) loss - Amortization expected to be recognized in in 2015	108
Texas-New Mexico Power Company [Member] | Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (gain) loss - Amounts in AOCI not yet recognized in net periodic benefit cost (income) at beginning of year	0	0
Net actuarial (gain) loss - Experience loss (gain)	365
Net actuarial (gain) loss - Regulatory asset (liability) adjustment	(365)
Net actuarial (gain) loss - Amortization recognized in net periodic benefit cost (income)	0
Net actuarial (gain) loss - Amounts in AOCI not yet recognized in net periodic benefit cost (income) at end of year	0	0
Net actuarial (gain) loss - Amortization expected to be recognized in in 2015	0
Texas-New Mexico Power Company [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (gain) loss - Experience loss (gain)	100
Texas-New Mexico Power Company [Member] | Executive Retirement Program [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (gain) loss - Amounts in AOCI not yet recognized in net periodic benefit cost (income) at beginning of year	0	0
Net actuarial (gain) loss - Experience loss (gain)	26
Net actuarial (gain) loss - Regulatory asset (liability) adjustment	(26)
Net actuarial (gain) loss - Amortization recognized in net periodic benefit cost (income)	0
Net actuarial (gain) loss - Amounts in AOCI not yet recognized in net periodic benefit cost (income) at end of year	0	$ 0
Net actuarial (gain) loss - Amortization expected to be recognized in in 2015	$ 0

Pension and Other Postretirem85

Pension and Other Postretirement Benefits Components of Net Periodic Benefit Cost (Income) Recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Public Service Company of New Mexico [Member] | Pension Plan [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$ 0	$ 0	$ 0
Interest cost	28,255	30,163	28,142
Expected return on plan assets	(39,323)	(38,044)	(41,930)
Amortization of net (gain) loss	14,820	13,020	14,840
Amortization of prior service cost	(965)	(965)	76
Net periodic benefit cost	2,787	4,174	1,128
Public Service Company of New Mexico [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	204	181	260
Interest cost	4,089	4,630	4,113
Expected return on plan assets	(5,610)	(5,638)	(5,043)
Amortization of net (gain) loss	1,966	2,225	4,242
Amortization of prior service cost	(642)	(1,343)	(1,343)
Net periodic benefit cost	7	55	2,229
Public Service Company of New Mexico [Member] | Executive Retirement Program [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	0	0	0
Interest cost	760	822	720
Amortization of net (gain) loss	325	210	232
Amortization of prior service cost	0	0	0
Net periodic benefit cost	1,085	1,032	952
Texas-New Mexico Power Company [Member] | Pension Plan [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	0	0	0
Interest cost	3,043	3,193	3,087
Expected return on plan assets	(4,420)	(4,526)	(4,849)
Amortization of net (gain) loss	782	665	1,049
Amortization of prior service cost	0	0	0
Net periodic benefit cost	(595)	(668)	(713)
Texas-New Mexico Power Company [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	247	237	299
Interest cost	608	619	566
Expected return on plan assets	(520)	(534)	(503)
Amortization of net (gain) loss	0	(122)	0
Amortization of prior service cost	0	32	57
Net periodic benefit cost	335	232	419
Texas-New Mexico Power Company [Member] | Executive Retirement Program [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	0	0	0
Interest cost	36	39	36
Amortization of net (gain) loss	5	0	0
Amortization of prior service cost	0	0	0
Net periodic benefit cost	$ 41	$ 39	$ 36

Pension and Other Postretirem86

Pension and Other Postretirement Benefits Assumptions Used (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets	4.00%
Public Service Company of New Mexico [Member] | Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate for determining PBO and APBO	5.29%	4.48%	5.27%
Discount rate for determining net periodic benefit cost (income)	4.48%	5.27%	4.30%
Expected return on plan assets	6.80%	7.20%	7.65%
Public Service Company of New Mexico [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate for determining PBO and APBO	5.34%	4.45%	5.21%
Discount rate for determining net periodic benefit cost (income)	4.45%	5.21%	4.26%
Expected return on plan assets	7.70%	8.50%	8.50%
Public Service Company of New Mexico [Member] | Executive Retirement Program [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate for determining PBO and APBO	5.29%	4.48%	5.27%
Discount rate for determining net periodic benefit cost (income)	4.48%	5.27%	4.30%
Texas-New Mexico Power Company [Member] | Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate for determining PBO and APBO	5.39%	4.39%	5.06%
Discount rate for determining net periodic benefit cost (income)	4.39%	5.06%	4.19%
Expected return on plan assets	6.80%	7.20%	7.65%
Texas-New Mexico Power Company [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate for determining PBO and APBO	5.34%	4.45%	5.21%
Discount rate for determining net periodic benefit cost (income)	4.45%	5.21%	4.26%
Expected return on plan assets	5.70%	6.50%	6.50%
Texas-New Mexico Power Company [Member] | Executive Retirement Program [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate for determining PBO and APBO	5.39%	4.39%	5.06%
Discount rate for determining net periodic benefit cost (income)	4.39%	5.06%	4.19%

Pension and Other Postretirem87

Pension and Other Postretirement Benefits Pension Benefit Payments are Expected to be Paid (Details) $ in Thousands	Dec. 31, 2015USD ($)
Public Service Company of New Mexico [Member] | Pension Plan [Member]
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2,016	$ 49,963
2,017	49,681
2,018	48,209
2,019	47,476
2,020	46,474
2021 – 2025	213,810
Public Service Company of New Mexico [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2,016	6,568
2,017	6,667
2,018	6,815
2,019	6,830
2,020	6,875
2021 – 2025	33,268
Public Service Company of New Mexico [Member] | Executive Retirement Program [Member]
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2,016	1,517
2,017	1,499
2,018	1,477
2,019	1,453
2,020	1,426
2021 – 2025	6,587
Texas-New Mexico Power Company [Member] | Pension Plan [Member]
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2,016	5,800
2,017	5,416
2,018	5,697
2,019	5,218
2,020	4,955
2021 – 2025	23,401
Texas-New Mexico Power Company [Member] | Other Postretirement Benefits [Member]
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2,016	838
2,017	858
2,018	880
2,019	903
2,020	927
2021 – 2025	4,939
Texas-New Mexico Power Company [Member] | Executive Retirement Program [Member]
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract]
2,016	93
2,017	92
2,018	90
2,019	88
2,020	85
2021 – 2025	$ 371

Pension and Other Postretirem88

Pension and Other Postretirement Benefits Assumed Health Care Cost Trend Rates and Impact of a One-Percentage-Point Change in Assumed Health Care Cost Trend Rates (Details) - Public Service Company of New Mexico [Member] - Other Postretirement Benefits [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]
Health care cost trend rate assumed for next year	7.00%	7.00%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5.00%	5.00%
Year that the rate reaches the ultimate trend rate	2,024	2,023
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates [Abstract]
1-Percentage-Point Increase, Effect on total of service and interest cost	$ 273
1-Percentage-Point Increase, Effect on APBO	4,370
1-Percentage-Point Decrease, Effect on total of service and interest cost	(235)
1-Percentage-Point Decrease, Effect on APBO	$ (3,840)

Pension and Other Postretirem89

Pension and Other Postretirement Benefits Other Postretirement Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Retirement Plans, 401 (k) plan [Member]
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
401(k) plan	$ 16,725	$ 16,703	$ 16,785
Other Retirement Plans, 401 (k) plan [Member] | Public Service Company of New Mexico [Member]
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
401(k) plan	12,679	12,745	12,952
Other Retirement Plans, 401 (k) plan [Member] | Texas-New Mexico Power Company [Member]
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
401(k) plan	4,046	3,958	3,953
Other Retirement Plans, Key Employees, Non-qualified Plan [Member]
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Non-qualified plan	1,436	2,257	2,204
Other Retirement Plans, Key Employees, Non-qualified Plan [Member] | Public Service Company of New Mexico [Member]
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Non-qualified plan	1,090	1,722	1,691
Other Retirement Plans, Key Employees, Non-qualified Plan [Member] | Texas-New Mexico Power Company [Member]
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Non-qualified plan	$ 346	$ 535	$ 513

Stock-Based Compensation Plan90

Stock-Based Compensation Plans Performance Equity Plan/ Accounting for Stock Awards and ESPP (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense for stock-based arrangements	$ 4.9	$ 5.9	$ 5.3
Public Service Company of New Mexico [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense for stock-based arrangements	3.6	4.2	3.8
Texas-New Mexico Power Company [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense for stock-based arrangements	1.3	$ 1.7	$ 1.5
Restricted Stock and Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 5.7
Period to recognize compensation expense	1 year 5 months
Performance Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for awards	3 years
Vesting rate	100.00%
Number of shares authorized (in shares)	13,500,000

Stock-Based Compensation Plan91

Stock-Based Compensation Plans Weighted Average Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restricted Stock and Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected quarterly dividends per share (in dollars per share)	$ 0.200	$ 0.185	$ 0.165
Risk-free interest rate	0.92%	0.62%	0.34%
Market-Based Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.00%	0.64%	0.36%
Dividend yield	2.87%	2.82%	2.86%
Expected volatility	18.73%	25.11%	25.11%

Stock-Based Compensation Plan92

Stock-Based Compensation Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2015	Feb. 28, 2015	Jan. 01, 2015	Mar. 31, 2012
Chairman, President, and Chief Executive Officer [Member] | Common Stock [Member] | Achieves a specified improvement in total shareholder return at the end of 2016 compared to 2011 and she remains an employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Number of shares authorized (in shares)							135,000
Chairman, President, and Chief Executive Officer [Member] | Common Stock [Member] | Achieves a specified improvement in total shareholder return at the end of 2014 compared to 2011 and she remains an employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Number of shares authorized (in shares)							35,000
Number of shares approved upon meeting target (in shares)					35,000
Chairman, President, and Chief Executive Officer [Member] | Common Stock [Member] | Achieves a specific performance target by the end of 2019 and she remains an employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Number of shares authorized (in shares)				53,859
Chairman, President, and Chief Executive Officer [Member] | Common Stock [Member] | Achieves a specific performance target by the end of 2017 and she remains an employee [Member] [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Number of shares authorized (in shares)				17,953
Executive Vice President and Chief Financial Officer [Member] | Common Stock [Member] | Achieved performance target for 2015 and 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Share-based compensation arrangement by share-based payment award, purchase price of common stock						$ 100,000
Executive Vice President and Chief Financial Officer [Member] | Common Stock [Member] | Achieved performance target for 2015, 2016 and 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Share-based compensation arrangement by share-based payment award, purchase price of common stock						$ 275,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Restricted Stock, at Beginning of period, Shares	258,770
Restricted Stock, at Beginning of period, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 22.31
Restricted Stock, Granted, Shares	340,020
Restricted Stock, Granted, Fair Value (in dollars per share)	$ 20.34	$ 21.27	$ 20.03
Restricted Stock, Vested, Shares	(349,635)
Restricted Stock, Vested, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 18.61
Restricted Stock, Forfeited, Shares	(4,061)
Restricted Stock, Forfeited, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 24.81
Restricted Stock, at end of period, Shares	245,094	258,770
Restricted Stock, at end of period, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 24.81	$ 22.31
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Weighted-average grant date fair value (in dollars per share)	$ 20.34	$ 21.27	$ 20.03
Total fair value of restricted shares that vested	$ 6,507,000	$ 4,933,000	$ 4,395,000
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options, Outstanding at beginning of period, Shares	920,505
Options, Outstanding at beginning of period, Weighted-Average Exercise Price (in dollars per share)	$ 20.39
Options, Granted, Shares	0
Options, Granted, Weighted-Average Exercise Price (in dollars per share)	$ 0
Options, Exercised, Shares	(280,612)
Options, Exercised, Weighted-Average Exercise Price (in dollars per share)	$ 20.13
Options, Forfeited, Shares	(1,000)
Options, Forfeited, Weighted-Average Exercise Price (in dollars per share)	$ 30.50
Options, Expired, Shares	(69,551)
Options, Expired, Weighted-Average Exercise Price (in dollars per share)	$ 28.02
Options, Outstanding at end of period, Shares	569,342	920,505
Options, Outstanding at end of period, Weighted-Average Exercise Price (in dollars per share)	$ 19.35	$ 20.39
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Aggregate intrinsic value of stock options outstanding	$ 6,400,000
Weighted average remaining contract life	2 years 3 months 7 days
Exercise price of stock options that are greater than the closing price (in shares)	2,100,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Weighted-average grant date fair value options granted (in dollars per share)	$ 0	$ 0	$ 0
Total fair value of options that vested	$ 0	$ 0	$ 625,000
Total intrinsic value of options exercised	$ 2,350,000	$ 2,473,000	$ 2,721,000
Performance Shares [Member] | Executive [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Shares excluded from shares outstanding (in shares)	79,619	179,845
Share based compensation, weighted percentage assigned to achieving market targets	60.00%	60.00%
Share based compensation, weighted percentage assigned to achieving performance targets	40.00%	40.00%
Shares approved, maximum number of shares available in year two (in shares)	165,628
Shares approved, maximum number of shares available in year three (in shares)	168,258

Construction Program and Join93

Construction Program and Jointly-Owned Electric Generating Plants Construction Program and Jointly-Owned Electric Generating Plants (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)operating_unit	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Construction expenditures	$ 558,589	$ 460,658	$ 348,039
Plant in Service	6,307,261	5,941,581
Accumulated Depreciation	(2,058,772)	(1,939,760)
Regulatory Disallowance	$ 167,471	1,062	12,235
Operating lease, option term extensions	2 years
Public Service Company of New Mexico [Member]
Construction expenditures	$ 404,840	316,800	239,906
Plant in Service	4,833,303	4,581,066
Accumulated Depreciation	(1,569,549)	(1,486,406)
Regulatory Disallowance	167,471	1,062	12,235
Texas-New Mexico Power Company [Member]
Construction expenditures	124,584	127,191	$ 89,117
Plant in Service	1,285,727	1,182,112
Accumulated Depreciation	(406,516)	$ (375,407)
Joint Projects [Member] | Public Service Company of New Mexico [Member]
Construction expenditures	404,800
Joint Projects [Member] | Texas-New Mexico Power Company [Member]
Construction expenditures	124,600
Joint Projects [Member] | PNMR [Member]
Construction expenditures	558,600
San Juan Generating Station Units 2 and 3 [Member] | Public Service Company of New Mexico [Member]
Plant in Service	468,200
Accumulated Depreciation	(193,300)
Construction Work in Progress	2,200
Net book value	$ 277,100
SJGS (Coal) [Member] | Unit 3 [Member] | Other Unrelated Entities 1 [Member]
Jointly owned utility plant, ownership percentage	41.80%
SJGS (Coal) [Member] | Unit 3 [Member] | Other Unrelated Entities 2 [Member]
Composite Interest	8.20%
SJGS (Coal) [Member] | Unit 4 [Member] | Other Unrelated Entities 3 [Member]
Jointly owned utility plant, ownership percentage	28.80%
SJGS (Coal) [Member] | Unit 4 [Member] | Other Unrelated Entities 4 [Member]
Jointly owned utility plant, ownership percentage	10.04%
SJGS (Coal) [Member] | Unit 4 [Member] | Other Unrelated Entities 5 [Member]
Jointly owned utility plant, ownership percentage	8.475%
SJGS (Coal) [Member] | Unit 4 [Member] | Other Unrelated Entities 6 [Member]
Jointly owned utility plant, ownership percentage	7.20%
SJGS (Coal) [Member] | Unit 4 [Member] | Other Unrelated Entities 7 [Member]
Jointly owned utility plant, ownership percentage	7.028%
SJGS (Coal) [Member] | Public Service Company of New Mexico [Member]
Plant in Service	$ 1,083,331
Accumulated Depreciation	(428,684)
Construction Work in Progress	$ 20,117
Composite Interest	46.30%
SJGS (Coal) [Member] | Public Service Company of New Mexico [Member] | Unit 3 [Member]
Composite Interest	50.00%
SJGS (Coal) [Member] | Public Service Company of New Mexico [Member] | Unit 4 [Member]
Composite Interest	38.457%
Jointly owned utility plant, future proportionate ownership share	64.50%
SJGS (Coal) [Member] | PNMR Development [Member] | Unit 4 [Member]
Jointly owned utility plant, future proportionate ownership share	12.80%
Palo Verde Nuclear Generating Station [Member] | Public Service Company of New Mexico [Member]
Plant in Service	$ 562,412
Accumulated Depreciation	(164,549)
Construction Work in Progress	$ 38,966
Composite Interest	10.20%
Period of time for the original full power operating licenses	40 years
Number of operating units | operating_unit	3
Operating lease, option term extensions	20 years
Four Corners Units 4 and 5 (Coal) [Member] | Public Service Company of New Mexico [Member]
Plant in Service	$ 167,874
Accumulated Depreciation	(102,559)
Construction Work in Progress	$ 19,390
Composite Interest	13.00%
Luna (Gas) [Member] | Public Service Company of New Mexico [Member]
Plant in Service	$ 69,259
Accumulated Depreciation	(23,048)
Construction Work in Progress	$ 33
Composite Interest	33.33%
SJGS Units 1 and 2 [Member] | Public Service Company of New Mexico [Member]
Composite Interest	50.00%
Clean Air Act, SNCR [Member] | Public Service Company of New Mexico [Member]
Regulatory Disallowance	$ 21,600
Clean Air Act, SNCR [Member] | San Juan Generating Station Units 2 and 3 [Member] | Public Service Company of New Mexico [Member]
Regulatory Disallowance	$ 127,600

Construction Program and Join94

Construction Program and Jointly-Owned Electric Generating Plants - Summary of Budgeted Construction Expenditures (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)
Summary of Budgeted Construction Expenditures [Line Items]
2,016	$ 546.8
2,017	415.1
2,018	397.7
2,019	352.4
2,020	325
Total	2,037
Public Service Company of New Mexico [Member]
Summary of Budgeted Construction Expenditures [Line Items]
2,016	396.4
2,017	295.1
2,018	269.3
2,019	220.3
2,020	183.7
Total	1,364.8
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member]
Summary of Budgeted Construction Expenditures [Line Items]
Expenditures related to environmental upgrades	1.3
Budgeted construction expenditures related to replacement capacity	100.8
Public Service Company of New Mexico [Member] | Four Corners Units 4 and 5 (Coal) [Member]
Summary of Budgeted Construction Expenditures [Line Items]
Expenditures related to environmental upgrades	88.7
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station, Unit 2 Leases [Member]
Summary of Budgeted Construction Expenditures [Line Items]
Budgeted Expenditures Related to purchase of assets currently leased	163.3
Texas-New Mexico Power Company [Member]
Summary of Budgeted Construction Expenditures [Line Items]
2,016	114.6
2,017	101.1
2,018	114.3
2,019	117
2,020	126.3
Total	573.3
Other Subsidiaries [Member]
Summary of Budgeted Construction Expenditures [Line Items]
2,016	35.8
2,017	18.9
2,018	14.1
2,019	15.1
2,020	15
Total	$ 98.9

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance	$ 104,170	$ 96,135	$ 85,893
Liabilities incurred	0	0	0
Liabilities settled	(730)	0	(79)
Accretion expense	8,625	7,984	7,245
Revisions to estimated cash flows	(170)	51	3,076
Ending balance	111,895	104,170	96,135
Public Service Company of New Mexico [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance	103,182	95,225	85,042
Liabilities incurred	0	0	0
Liabilities settled	(506)	0	(67)
Accretion expense	8,543	7,906	7,174
Revisions to estimated cash flows	(170)	51	3,076
Ending balance	111,049	103,182	95,225
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Increase (decrease) to asset retirement obligation	1,000	500
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Increase (decrease) to asset retirement obligation	(1,200)	2,500
Texas-New Mexico Power Company [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance	848	782	732
Liabilities incurred	0	0	0
Liabilities settled	(224)	0	(12)
Accretion expense	71	66	62
Revisions to estimated cash flows	0	0	0
Ending balance	$ 695	$ 848	$ 782

Commitments and Contingencies (

Commitments and Contingencies (Details)	Feb. 01, 2016USD ($)	Dec. 31, 2015USD ($)MW	Dec. 21, 2015	Oct. 29, 2015USD ($)	Aug. 17, 2015USD ($)	Aug. 13, 2015USD ($)MWhMW	Jul. 17, 2015	Mar. 02, 2015lb / MMBTUT	May. 16, 2014USD ($)	Dec. 20, 2013USD ($)$ / kwMW	May. 31, 2010USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)MW	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Jan. 31, 2016USD ($)	Feb. 09, 2016	Jan. 26, 2016state	Dec. 02, 2015Allotment_Parcel	Oct. 01, 2015opp	Sep. 30, 2015opp	Aug. 11, 2015T	Jul. 31, 2015MW	Jul. 13, 2015a	May. 19, 2015MW	May. 14, 2015lb / MMBTU	Jan. 22, 2015Allotment_Parcel	Jan. 07, 2015MW	Jun. 30, 2014USD ($)MW	May. 31, 2014USD ($)	Apr. 02, 2014Allotment_Parcel	Jan. 06, 2014Allotment_Parcel	Dec. 30, 2013lb / Decatherm	Aug. 31, 2013	May. 23, 2013USD ($)	Oct. 31, 2012USD ($)	Sep. 30, 2012landowner	Aug. 06, 2012compliance_alternative	Dec. 31, 2011mw	Jan. 31, 2010opp	Aug. 31, 2006USD ($)	Jul. 31, 2005T	Dec. 31, 2003	Dec. 31, 1999state
Loss Contingencies [Line Items]
Plant in Service		$ 6,307,261,000												$ 6,307,261,000	$ 5,941,581,000
Accumulated Depreciation		(2,058,772,000)												(2,058,772,000)	(1,939,760,000)
Regulatory disallowances and restructuring costs														167,471,000	1,062,000	$ 12,235,000
Reversal of deferred items related to BART at SJGS														1,826,000	0	0
Other current assets		82,104,000												82,104,000	58,471,000
San Juan Generating Station [Member] | Continuous Highwall Mining [Member]
Loss Contingencies [Line Items]
Proposed retroactive surface mining royalty rate																																			12.50%
Surface mining royalty rate applied between 2000 and 2003																																												8.00%
Estimated underpaid surface mining royalties under proposed rate change																																										$ 5,000,000
PNM's share of estimated underpaid surface mining royalties under proposed rate change																																										46.30%
San Juan Generating Station [Member] | SJCC Arbitration [Member]
Loss Contingencies [Line Items]
Potential unbilled mining costs owed to SJCC																															$ 5,200,000
Potential overbilled mining costs SJCC owes to SJGS owners																															1,100,000
Potential capital improvements billed as mining costs to SJGS owners																															$ 13,900,000
Clean Air Act related to Regional Haze [Member]
Loss Contingencies [Line Items]
Number of states to address regional haze | state																																													50
Potential to emit tons per year of visibility impairing pollution, maximum (in tons) | T																																											250
Clean Power Plan [Member] | Subsequent Event [Member]
Loss Contingencies [Line Items]
Number of states that filed a petition against the Clean Power Plan | state																			29
Proposed percentage reduction in CO2 emissions																		32.00%
San Juan Generating Station Unit 4 [Member] | Clean Air Act, SNCR [Member]
Loss Contingencies [Line Items]
Unsubscribed ownership (in megawatts) | MW																													65
Four Corners [Member]
Loss Contingencies [Line Items]
Third party sale of ownership percentage																																		48.00%
Approved lease extension term							25 years
Period of time to remedy violations until suit is filed			60 days
Four Corners [Member] | NMTRD Coal Severance Tax [Member]
Loss Contingencies [Line Items]
Assessed coal severance surtax penalty and interest																																				$ 30,000,000
Public Service Company of New Mexico [Member]
Loss Contingencies [Line Items]
Plant in Service		4,833,303,000												4,833,303,000	4,581,066,000
Accumulated Depreciation		(1,569,549,000)												(1,569,549,000)	(1,486,406,000)
Regulatory disallowances and restructuring costs														167,471,000	1,062,000	12,235,000
Reversal of deferred items related to BART at SJGS														1,826,000	0	0
Other current assets		74,990,000												74,990,000	53,095,000
Regulatory assets		342,910,000												342,910,000	401,025,000
Public Service Company of New Mexico [Member] | SPS Complaint, Federal Power Act [Member]
Loss Contingencies [Line Items]
Proposed settlement pending regulatory approval				$ 4,200,000
Portion of proposed settlement to be credited to customers, pending regulatory approval				$ 2,600,000
Public Service Company of New Mexico [Member] | Navajo Nation Allottee Matters [Member]
Loss Contingencies [Line Items]
Number of landowners claiming to be Navajo allottees (in landowners) | landowner																																						43
Number of allotment parcels' appraisal requested for review (in allotment parcels) | Allotment_Parcel																																	58
Number of allotments where landowners are revoking rights of way renewal consents | Allotment_Parcel																																6
Number of allotments, Previously contested rights of way renewal consents | Allotment_Parcel																												10
Acres of land at issue (in acres) | a																									15.49
Number of allotment parcels' at issue, Not to be condemned | Allotment_Parcel																				2
Number of allotment parcels' at issue | Allotment_Parcel																				5
Public Service Company of New Mexico [Member] | Surface [Member]
Loss Contingencies [Line Items]
Regulatory assets		100,000,000												100,000,000
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member] | SJCC Arbitration [Member]
Loss Contingencies [Line Items]
PNM's share of arbitration ruling																															46.30%
FFPAC percentage of mining costs overbilled or unbilled ruled by arbitration																															33.00%
Public Service Company of New Mexico [Member] | Clean Air Act, SNCR [Member]
Loss Contingencies [Line Items]
Estimated costs to remain unrecovered						$ 20,000,000
Regulatory disallowances and restructuring costs														21,600,000
Public Service Company of New Mexico [Member] | National Ambient Air Quality Standards, 2015 EPA Legal Settlement [Member]
Loss Contingencies [Line Items]
Period of time to act on settlement								16 months
Emissions tons of SO2 per year | T								16,000
Public Service Company of New Mexico [Member] | National Ambient Air Quality Standards, 2015 EPA Legal Settlement [Member] | Minimum [Member]
Loss Contingencies [Line Items]
SO2 emissions rate (in pounds per MMBTU) | lb / MMBTU								0.45
Emissions tons of SO2 per year | T								2,600															2,000
Public Service Company of New Mexico [Member] | National Ambient Air Quality Standards [Member] | San Juan Generating Station [Member]
Loss Contingencies [Line Items]
Revised SO2 emissions agreed upon (in pounds per MMBTU) | lb / MMBTU																											0.10
Public Service Company of New Mexico [Member] | Loss on long-term purchase commitment [Member] | San Juan Generating Station [Member]
Loss Contingencies [Line Items]
Annual funding post-term reclamation trust														4,300,000	1,000,000	300,000
Public Service Company of New Mexico [Member] | Mine Reclamation Trust [Member] | San Juan Generating Station [Member]
Loss Contingencies [Line Items]
Reclamation trust funding, next fiscal year		4,900,000												4,900,000
Reclamation trust funding, year 2		5,400,000												5,400,000
Public Service Company of New Mexico [Member] | Mine Reclamation Trust [Member] | Four Corners [Member]
Loss Contingencies [Line Items]
Reclamation trust funding, next fiscal year		1,900,000												1,900,000
Reclamation trust funding, year 2		2,000,000												2,000,000
Reclamation trust funding, year 3		2,100,000												2,100,000
Public Service Company of New Mexico [Member] | Loss on long-term purchase commitment [Member] | Surface [Member]
Loss Contingencies [Line Items]
Liability for interim storage costs		38,800,000												38,800,000	25,700,000
Final reclamation, capped amount to be collected														100,000,000
Public Service Company of New Mexico [Member] | Loss on long-term purchase commitment [Member] | Underground [Member]
Loss Contingencies [Line Items]
Liability for interim storage costs		11,400,000												11,400,000	8,600,000
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member]
Loss Contingencies [Line Items]
Funding for decommissioning costs in qualified and non-qualified trust funds														4,900,000	4,900,000	$ 4,900,000
Estimated market value of trusts for decommissioning costs		$ 249,100,000												$ 249,100,000	244,600,000
Composite Interest		10.20%												10.20%
Plant in Service		$ 562,412,000												$ 562,412,000
Accumulated Depreciation		(164,549,000)												(164,549,000)
Construction Work in Progress		$ 38,966,000												$ 38,966,000
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member] | Nuclear Plant [Member]
Loss Contingencies [Line Items]
Ownership percentage in nuclear reactor		10.20%												10.20%
Maximum potential assessment per incident		$ 38,900,000												$ 38,900,000
Annual payment limitation related to incident		5,800,000												5,800,000
Aggregate amount of all risk insurance		2,750,000,000												2,750,000,000
Sublimit amount under nuclear electric insurance limited		2,250,000,000												2,250,000,000
Maximum amount under nuclear electric insurance limited		5,400,000												5,400,000
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member] | Nuclear Plant [Member] | Commercial Providers [Member]
Loss Contingencies [Line Items]
Liability insurance coverage		375,000,000												375,000,000
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member] | Nuclear Plant [Member] | Industry Wide Retrospective Assessment Program [Member]
Loss Contingencies [Line Items]
Liability insurance coverage		13,100,000,000												13,100,000,000
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member] | Maximum [Member] | Nuclear Plant [Member]
Loss Contingencies [Line Items]
Liability insurance coverage		13,500,000,000												13,500,000,000
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member] | Department of energy, spent nuclear fuel removal January 2007 - June 2011 [Member]
Loss Contingencies [Line Items]
PNM's share of third party settlement claim															5,900,000
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member] | Department of energy, spent nuclear fuel removal July 2011 - June 2014 [Member]
Loss Contingencies [Line Items]
PNM's share of third party settlement claim													$ 4,300,000
Litigation settlement, portion credited to customers													$ 3,100,000
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member] | Department of energy, spent nuclear fuel removal July 2014 - June 2015 [Member]
Loss Contingencies [Line Items]
PNM's share of third party settlement claim												$ 1,300,000
Litigation settlement, portion credited to customers												$ 500,000
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member] | Nuclear spent fuel and waste disposal [Member]
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss		58,000,000												58,000,000
Annual fee, nuclear waste disposal									$ 0
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station [Member] | Nuclear spent fuel and waste disposal [Member] | Other Deferred Credits [Member]
Loss Contingencies [Line Items]
Liability for interim storage costs		$ 12,200,000												$ 12,200,000	12,300,000
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member]
Loss Contingencies [Line Items]
Composite Interest																																					46.30%
Minimum megawatt capacity from coal and oil-fired electric generating units under jurisdiction of the Mercury and Air Toxics Standards (in megawatts) | mw																																								25
Mercury removal efficiency		99.00%												99.00%
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member] | Coal Supply [Member]
Loss Contingencies [Line Items]
Other current assets		$ 49,000,000												$ 49,000,000	$ 37,300,000
Estimated increase in coal cost		40.00%												40.00%
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member] | Clean Air Act, SCR [Member] | Installation Costs Including Construction Management, Gross Receipts Taxes, AFUDC, and Other PNM Costs [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Estimated total capital cost if requirement occurred																																					$ 824,000,000
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member] | Clean Air Act, SCR [Member] | Installation Costs Including Construction Management, Gross Receipts Taxes, AFUDC, and Other PNM Costs [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Estimated total capital cost if requirement occurred																																					910,000,000
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member] | Clean Air Act, SNCR [Member]
Loss Contingencies [Line Items]
Overall reduction of ownership (in megawatts) | MW										340
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member] | Clean Air Act, SNCR [Member] | Installation Costs Including Construction Management, Gross Receipts Taxes, AFUDC, and Other PNM Costs [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Estimated installation capital costs																																					85,000,000
Estimated portion of total capital costs if requirement occurred																																					105,000,000
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member] | Clean Air Act, SNCR [Member] | Installation Costs Including Construction Management, Gross Receipts Taxes, AFUDC, and Other PNM Costs [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Estimated installation capital costs																																					90,000,000
Estimated portion of total capital costs if requirement occurred																																					$ 110,000,000
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member] | Mercury Control [Member]
Loss Contingencies [Line Items]
Current annual mercury control costs											$ 700,000
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member] | Mercury Control [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Contingent estimated annual mercury control cost											$ 6,600,000
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member] | Loss on long-term purchase commitment [Member] | Surface [Member]
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss		$ 98,200,000												$ 98,200,000
Regulatory disallowances and restructuring costs		16,500,000												16,500,000
Public Service Company of New Mexico [Member] | San Juan Generating Station [Member] | Loss on long-term purchase commitment [Member] | Underground [Member]
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss		118,900,000												118,900,000
Public Service Company of New Mexico [Member] | San Juan Generating Station Units 2 and 3 [Member]
Loss Contingencies [Line Items]
Plant in Service		468,200,000												468,200,000
Accumulated Depreciation		(193,300,000)												(193,300,000)
Construction Work in Progress		2,200,000												2,200,000
Net book value		$ 277,100,000												$ 277,100,000
Public Service Company of New Mexico [Member] | San Juan Generating Station Units 2 and 3 [Member] | Clean Air Act, SNCR [Member]
Loss Contingencies [Line Items]
Requested time period to recover retired units NBV						20 years				20 years				20 years
Number of megawatts of gas-fired generation (in megawatts) | MW										177
Newly identified replacement solar generation (in megawatts) | MW										40
Current ownership (in megawatts) | MW						418
Recovery percentage of estimated undepreciated value		50.00%				50.00%								50.00%
Estimated undepreciated value		$ 255,300,000												$ 255,300,000
Regulatory disallowances and restructuring costs														127,600,000
Reversal of deferred items related to BART at SJGS														1,800,000
Public Service Company of New Mexico [Member] | San Juan Generating Station Units 2 and 3 [Member] | Increase in coal mine decommissioning liability [Member] | Clean Air Act, SNCR [Member]
Loss Contingencies [Line Items]
Regulatory disallowances and restructuring costs														$ 165,700,000
Public Service Company of New Mexico [Member] | Palo Verde Nuclear Generating Station Unit 3 [Member] | Clean Air Act, SNCR [Member]
Loss Contingencies [Line Items]
Estimated undepreciated value						$ 150,000,000
Public Service Company of New Mexico [Member] | San Juan Generating Station Units 1 and 4 [Member]
Loss Contingencies [Line Items]
Proposed proportionate ownership share																														58.70%
Public Service Company of New Mexico [Member] | San Juan Generating Station Units 1 and 4 [Member] | Clean Air Act, SNCR [Member] | Installation Costs Including Construction Management, Gross Receipts Taxes, AFUDC, and Other PNM Costs [Member] | Subsequent Event [Member]
Loss Contingencies [Line Items]
Total costs for SNCRs and BDT equipment																	$ 78,000,000
Public Service Company of New Mexico [Member] | San Juan Generating Station Units 1 and 4 [Member] | Clean Air Act, SNCR [Member] | Installation Costs Including Construction Management, Gross Receipts Taxes, AFUDC, and Other PNM Costs [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Estimated installation capital costs										$ 82,000,000
Public Service Company of New Mexico [Member] | San Juan Generating Station Unit 4 [Member]
Loss Contingencies [Line Items]
Proposed proportionate ownership share																														64.50%
Public Service Company of New Mexico [Member] | San Juan Generating Station Unit 4 [Member] | Clean Air Act, SNCR [Member]
Loss Contingencies [Line Items]
Additional ownership to be obtained (in megawatts) | MW						65																		132		132				132
Estimated rate base value						$ 0
Coal-fired generation (in megawatts) | MW						197
Number of megawatt hours of renewable energy certificates to be acquired and retired (in megawatt hours) | MWh						1
Percentage of ownership held by exiting owners		38.80%												38.80%
Ownership percentage		38.50%												38.50%
Costs to obtain additional ownership																														$ 0
Public Service Company of New Mexico [Member] | San Juan Generating Station Unit 4 [Member] | Clean Air Act, SNCR [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Annual cost of renewable energy credits, maximum						$ 7,000,000
Public Service Company of New Mexico [Member] | San Juan Generating Station Unit 4 [Member] | Clean Air Act, SNCR Hearing Examiner Recommended Denial [Member]
Loss Contingencies [Line Items]
Additional ownership to be obtained (in megawatts) | MW						132
Public Service Company of New Mexico [Member] | San Juan Generating Station Unit 3 [Member] | Clean Air Act, SNCR [Member]
Loss Contingencies [Line Items]
Percentage of ownership held by exiting owners		50.00%												50.00%
Ownership percentage		50.00%												50.00%
Public Service Company of New Mexico [Member] | Four Corners [Member] | Clean Air Act related to Post-Combustion Controls [Member]
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss		$ 94,000,000												$ 94,000,000
Number of compliance alternatives | compliance_alternative																																							2
Government standard emissions limit (pounds per MMBTU, parts per million) | lb / Decatherm																																		0.015
Plant requirement to meet opacity limit																																		20.00%
Rule imposes opacity limitation on certain fugitive dust emissions from coal and material handling operations																																		20.00%
Public Service Company of New Mexico [Member] | Four Corners Units 4 and 5 (Coal) [Member]
Loss Contingencies [Line Items]
Composite Interest		13.00%												13.00%
Plant in Service		$ 167,874,000												$ 167,874,000
Accumulated Depreciation		(102,559,000)												(102,559,000)
Construction Work in Progress		$ 19,390,000												$ 19,390,000
Public Service Company of New Mexico [Member] | Four Corners Units 4 and 5 (Coal) [Member] | Clean Air Act related to Post-Combustion Controls [Member]
Loss Contingencies [Line Items]
Ownership percentage																																		13.00%
Public Service Company of New Mexico [Member] | Four Corners Units 4 and 5 (Coal) [Member] | Clean Air Act Lawsuit [Member]
Loss Contingencies [Line Items]
Ownership percentage					13.00%
Litigation settlement, amount					$ 1,500,000
Litigation settlement, expected capital spend, environmental					$ 6,700,000
Public Service Company of New Mexico [Member] | San Juan Generating Station And Four Corners [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Proposed government standard emission limit (in ozone parts per million) | opp																																									60
Public Service Company of New Mexico [Member] | San Juan Generating Station And Four Corners [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Government standard emissions limit (pounds per MMBTU, parts per million) | opp																					70	75
Proposed government standard emission limit (in ozone parts per million) | opp																																									70
PNMR and PNM [Member] | Palo Verde Nuclear Generating Station Unit 3 [Member]
Loss Contingencies [Line Items]
Number of megawatts not included in retail rates (in megawatts) | MW		134												134
PNMR and PNM [Member] | Palo Verde Nuclear Generating Station Unit 3 [Member] | Clean Air Act, SNCR [Member]
Loss Contingencies [Line Items]
Number of megawatts not included in retail rates (in megawatts) | MW						134				134
Proposed value per kilowatt (in dollars per kilowatt) | $ / kw										2,500
NM Capital [Member] | Subsequent Event [Member] | BTMU Term Loan Agreement [Member]
Loss Contingencies [Line Items]
Long-term debt	$ 125,000,000
NM Capital [Member] | San Juan Generating Station [Member] | Subsequent Event [Member] | Coal Supply [Member]
Loss Contingencies [Line Items]
Payments to fund long-tern loans to unaffiliated third party	125,000,000
Loan agreement	$ 125,000,000
Variable interest rate	7.25%
Coal mine reclamation bonds to be posted with NMMMD	$ 161,600,000
Cash used to support bank letter or credit arrangement	$ 40,000,000
Number of days to provide security interest	180 days
PNMR Development [Member] | San Juan Generating Station Unit 4 [Member] | Clean Air Act, SNCR [Member]
Loss Contingencies [Line Items]
Potential acquisition of ownership (in megawatts) | MW																								65		65
Other income, restructuring fee														$ 3,100,000

Regulatory and Rate Matters (De

Regulatory and Rate Matters (Details)

Jan. 29, 2016USD ($)

Nov. 30, 2015

Aug. 27, 2015USD ($)

Jul. 31, 2015

May. 27, 2015

Mar. 20, 2015USD ($)

Feb. 17, 2015

Dec. 11, 2014USD ($)

Oct. 06, 2014USD ($)

Apr. 30, 2014USD ($)

Apr. 23, 2014USD ($)

May. 28, 2013

Mar. 01, 2013

Jan. 02, 2013USD ($)

Dec. 06, 2012USD ($)

Nov. 30, 2013

Oct. 31, 2012USD ($)

Jul. 31, 2011USD ($)

Oct. 31, 2010USD ($)

Jun. 30, 2015USD ($)MW

Dec. 31, 2013USD ($)MW

Mar. 09, 2016USD ($)

Sep. 09, 2015USD ($)

Mar. 15, 2015USD ($)

Sep. 07, 2014USD ($)

Jun. 30, 2014USD ($)

Mar. 12, 2014USD ($)

Sep. 16, 2013USD ($)

Mar. 19, 2013USD ($)

Dec. 31, 2017MW

Feb. 28, 2017USD ($)

Feb. 29, 2016USD ($)

Dec. 31, 2015USD ($)MW

Feb. 28, 2015USD ($)

Dec. 31, 2014USD ($)MWhMW

Dec. 31, 2013USD ($)MW

Dec. 31, 2012USD ($)

Feb. 28, 2014USD ($)

Feb. 19, 2016customer

Oct. 02, 2015USD ($)

Jan. 30, 2015USD ($)

Jun. 20, 2014USD ($)customer

Public Service Company of New Mexico [Member] | San Juan Generating Station Units 2 and 3 [Member] | Clean Air Act, SNCR [Member]

Rate Matters [Line Items]

Newly-identified replacement gas plant (in megawatts) | MW

187

85

Cost of replacement gas-generation

$ 133,200,000

$ 101,800,000

Public Service Company of New Mexico [Member] | Four Corners [Member]

Rate Matters [Line Items]

Jointly owned utility plant, ownership percentage

7.00%

Period of time to file a waiver of rights of first refusal

120 days

Public Service Company of New Mexico [Member] | 2014 Electric Rate Case [Member]

Rate Matters [Line Items]

Requested rate increase (decrease)

$ 107,400,000

Future test year period, period of time following the filing of an application

45 days

Future test year period, Number of days following the filing of application for rate increase, Alternative interpretation

13 months

Requested stay period

30 days

Future test year period, Revised, Number of days following the filing of application for rate increase

13 months

Public Service Company of New Mexico [Member] | 2015 Electric Rate Case [Member]

Rate Matters [Line Items]

Requested rate increase (decrease)

$ 123,500,000

Requested return on equity

10.50%

Public Service Company of New Mexico [Member] | Renewable Portfolio Standard [Member]

Rate Matters [Line Items]

Solar photovoltaic capacity (in megawatts) | MW

20

20

Estimated cost of solar photovoltaic capacity

$ 48,900,000

Current output of solar photovoltaic capacity (in megawatts) | MW

4

4

Expected output of solar photovoltaic capacity (in megawatts) | MW

9

9

Public Service Company of New Mexico [Member] | Renewable Portfolio Standard [Member] | Minimum [Member]

Rate Matters [Line Items]

Reasonable cost threshold

3.00%

Public Service Company of New Mexico [Member] | Renewable Portfolio Standard [Member] | Maximum [Member]

Rate Matters [Line Items]

Reasonable cost threshold

3.00%

3.00%

Public Service Company of New Mexico [Member] | Renewable Portfolio Standard [Member] | Wind Energy [Member] | Minimum [Member]

Rate Matters [Line Items]

Required percentage of diversification

30.00%

Public Service Company of New Mexico [Member] | Renewable Portfolio Standard [Member] | Solar Energy [Member] | Minimum [Member]

Rate Matters [Line Items]

Required percentage of diversification

20.00%

Public Service Company of New Mexico [Member] | Renewable Portfolio Standard [Member] | Distributed Generation [Member] | Minimum [Member]

Rate Matters [Line Items]

Required percentage of diversification

3.00%

Public Service Company of New Mexico [Member] | Renewable Portfolio Standard [Member] | Other [Member] | Minimum [Member]

Rate Matters [Line Items]

Required percentage of diversification

5.00%

Public Service Company of New Mexico [Member] | Renewable Portfolio Standard [Member] | Required Percentage by 2011 [Member]

Rate Matters [Line Items]

Required percentage of renewable energy in portfolio to electric sales

10.00%

Public Service Company of New Mexico [Member] | Renewable Portfolio Standard [Member] | Required Percentage by 2015 [Member]

Rate Matters [Line Items]

Required percentage of renewable energy in portfolio to electric sales

15.00%

Public Service Company of New Mexico [Member] | Renewable Portfolio Standard [Member] | Required Percentage by 2020 [Member]

Rate Matters [Line Items]

Required percentage of renewable energy in portfolio to electric sales

20.00%

Public Service Company of New Mexico [Member] | Renewable Portfolio Standard Supplemental Procurement [Member]

Rate Matters [Line Items]

Solar photovoltaic capacity (in megawatts) | MW

1.5

1.5

Public Service Company of New Mexico [Member] | 2014 Wind generated Renewable Energy Credits [Member]

Rate Matters [Line Items]

Wind generation (in megawatt hours) | MWh

50,000

Public Service Company of New Mexico [Member] | Renewable Portfolio Standard 2014 [Member]

Rate Matters [Line Items]

Solar photovoltaic capacity (in megawatts) | MW

23

Estimated cost of solar photovoltaic capacity

$ 46,500,000

Wind capacity, planned purchase agreement, term

20 years

Wind energy capacity (in megawatts) | MW

102

Cost of wind capacity in the first year, planned purchase agreement

$ 5,800,000

Public Service Company of New Mexico [Member] | 2015 Wind generated Renewable Energy Credits [Member]

Rate Matters [Line Items]

Wind generation (in megawatt hours) | MWh

120,000

Public Service Company of New Mexico [Member] | Renewable Portfolio Standard 2015 [Member]

Rate Matters [Line Items]

Solar photovoltaic capacity (in megawatts) | MW

40

Estimated cost of solar photovoltaic capacity

$ 79,300,000

Public Service Company of New Mexico [Member] | Renewable Energy Rider [Member]

Rate Matters [Line Items]

Revenue from renewable energy rider

$ 41,900,000

$ 31,900,000

$ 21,700,000

Public Service Company of New Mexico [Member] | Renewable Energy Rider [Member] | Maximum [Member]

Rate Matters [Line Items]

Rider condition of earned return on jurisdictional equity in 2013

10.50%

10.50%

10.50%

Annual revenue to be collected under 2015 rider rate

$ 42,400,000

Public Service Company of New Mexico [Member] | Energy Efficient and Load Management [Member] | Disincentives/Incentives Added [Member]

Rate Matters [Line Items]

Program costs related to energy efficiency

$ 22,500,000

Authorization to recover an incentive equal to a percentage of annual program costs

7.60%

Annual incentive

$ 1,700,000

Public Service Company of New Mexico [Member] | 2014 Energy Efficiency and Load Management Program [Member] | Disincentives/Incentives Added [Member]

Rate Matters [Line Items]

Program costs related to energy efficiency

$ 25,800,000

Proposed energy efficiency incentive

$ 2,100,000

Anticipated future profit incentive 2015

$ 1,700,000

Anticipated future profit incentive 2016

$ 1,800,000

Public Service Company of New Mexico [Member] | FPPAC Continuation Application [Member]

Rate Matters [Line Items]

Retention percentage of sales margins

10.00%

10.00%

Under-collected balance write-off

$ 10,500,000

$ 10,500,000

Public Utilities, Under-collected balance to be collected

$ 63,500,000

Period of time to collect

18 months

Public Service Company of New Mexico [Member] | 2011 Integrated Resource Plan [Member]

Rate Matters [Line Items]

Planning period covered, IRP

20 years

Public Service Company of New Mexico [Member] | Transmission Rate Case [Member]

Rate Matters [Line Items]

Approved rate increase (decrease)

$ 11,100,000

Approved return on equity

12.25%

Increased annual transmission service revenue

$ 2,900,000

Public Service Company of New Mexico [Member] | Wholesale Electric Transmission Rate Case [Member] [Member]

Rate Matters [Line Items]

Approved rate increase (decrease)

$ 2,900,000

$ 3,200,000

Approved return on equity

10.81%

Lease ownership in EIP

60.00%

Approved additional rate increase

$ 1,300,000

Public Service Company of New Mexico [Member] | Formula Transmission Rate Case [Member]

Rate Matters [Line Items]

Return on equity

10.00%

Public Service Company of New Mexico [Member] | Firm Requirements Wholesale Power Rate Case, Navopache [Member] [Member]

Rate Matters [Line Items]

Approved rate increase (decrease)

$ 5,300,000

Average monthly usage (in megawatts) | MW

54

55

Revenue for power sold under specific contract

$ 27,100,000

$ 28,400,000

Public Service Company of New Mexico [Member] | Firm Requirements Wholesale Power Rate Case, Navopache [Member] [Member] | Scenario, Forecast [Member]

Rate Matters [Line Items]

Public Utilities, Expected average monthly usage in megawatts | MW

10

Public Service Company of New Mexico [Member] | Firm Requirements Wholesale Power Rate Case [Member]

Rate Matters [Line Items]

Contract extension

10 years

Public Service Company of New Mexico [Member] | Firm Requirements Wholesale Power Contract, Gallup [Member]

Rate Matters [Line Items]

Revenue for power sold under specific contract

$ 6,100,000

$ 11,700,000

Public Service Company of New Mexico [Member] | City of Gallup, New Mexico Contract [Member]

Rate Matters [Line Items]

Gain on sale of substation

$ 1,100,000

Texas-New Mexico Power Company [Member] | Advanced Meter System Deployment and Surcharge Request [Member]

Rate Matters [Line Items]

Approved deployment costs

$ 113,400,000

Period of time to collect deployment costs through surcharge period

12 years

Completion period of advanced meter deployment

5 years

Non-standard metering service cost total to be borne by opt-out customers

$ 200,000

Non-standard metering ongoing expenses total to be borne by opt-out customers

500,000

Non-standard metering ongoing expenses monthly charge

$ 36.78

Presumed number of customers that will elect non-standard meter service (in customers) | customer

1,081

Cost and savings reconciliation filed with regulators, capital cost savings

$ 71,000,000

Cost and savings reconciliation filed with regulators, operations and maintenance savings

$ 18,000,000

Program costs incurred to date

$ 1,500,000

Texas-New Mexico Power Company [Member] | Advanced Meter System Deployment and Surcharge Request [Member] | Subsequent Event [Member]

Rate Matters [Line Items]

Current number of customers that have elected non-standard meter service (in customers) | customer

98

Texas-New Mexico Power Company [Member] | Advanced Meter System Deployment and Surcharge Request [Member] | Minimum [Member]

Rate Matters [Line Items]

Non-standard metering service cost initial fee range

$ 63.97

Texas-New Mexico Power Company [Member] | Advanced Meter System Deployment and Surcharge Request [Member] | Maximum [Member]

Rate Matters [Line Items]

Non-standard metering service cost initial fee range

$ 168.61

Texas-New Mexico Power Company [Member] | Energy Efficiency [Member]

Rate Matters [Line Items]

Aggregate Collection Amount

$ 5,600,000

$ 5,200,000

Performance Bonus

$ 700,000

$ 0

Texas-New Mexico Power Company [Member] | Energy Efficiency [Member] | Scenario, Forecast [Member]

Rate Matters [Line Items]

Aggregate Collection Amount

$ 6,000,000

$ 5,700,000

Performance Bonus

$ 700,000

$ 1,500,000

Texas-New Mexico Power Company [Member] | Transmission Cost of Service Rates [Member]

Rate Matters [Line Items]

Approved rate increase (decrease)

$ 27,100,000

$ 25,200,000

$ 18,200,000

$ 18,100,000

$ 21,900,000

$ 26,400,000

Increased annual transmission service revenue

$ 4,400,000

$ 4,200,000

$ 2,900,000

$ 2,800,000

$ 2,900,000

$ 2,500,000

Texas-New Mexico Power Company [Member] | Transmission Cost of Service Rates [Member] | Subsequent Event [Member]

Rate Matters [Line Items]

Requested rate increase (decrease)

$ 25,800,000

Requested increase in annual transmission service revenue

$ 4,300,000

Texas-New Mexico Power Company [Member] | Transmission Cost of Service Rates [Member] | Scenario, Forecast [Member]

Rate Matters [Line Items]

Approved rate increase (decrease)

$ 7,000,000

Increased annual transmission service revenue

$ 1,400,000

Accumulated Other Comprehensi98

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	$ (61,755)	$ (58,140)	$ (81,630)
Amounts reclassified from AOCI (pre-tax)	(22,579)	(8,152)	(5,385)
Income tax impact of amounts reclassified	8,849	3,234	2,137
Other OCI changes (pre-tax)	6,665	2,038	44,276
Income tax impact of other OCI changes	(2,612)	(735)	(17,538)
Total Other Comprehensive Income (Loss)	(9,677)	(3,615)	23,490
Ending Balance	$ (71,432)	$ (61,755)	(58,140)
Percentage of pension liability adjustment capitalized into construction work in process	22.20%	24.40%
Percentage of pension liability adjustment capitalized into other accounts	2.40%	2.00%
Public Service Company of New Mexico [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	$ (61,755)	$ (57,877)	(81,414)
Amounts reclassified from AOCI (pre-tax)	(22,579)	(8,710)	(5,592)
Income tax impact of amounts reclassified	8,849	3,429	2,210
Other OCI changes (pre-tax)	6,593	2,191	44,555
Income tax impact of other OCI changes	(2,584)	(788)	(17,636)
Total Other Comprehensive Income (Loss)	(9,721)	(3,878)	23,537
Ending Balance	(71,476)	(61,755)	(57,877)
Texas-New Mexico Power Company [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Total Other Comprehensive Income (Loss)	0	263	(47)
Unrealized Gain on Available-for-Sale Securities [Member] | Public Service Company of New Mexico [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	28,008	25,748	16,406
Amounts reclassified from AOCI (pre-tax)	(28,531)	(13,862)	(11,956)
Income tax impact of amounts reclassified	11,181	5,461	4,734
Other OCI changes (pre-tax)	10,998	17,473	27,419
Income tax impact of other OCI changes	(4,310)	(6,812)	(10,855)
Total Other Comprehensive Income (Loss)	(10,662)	2,260	9,342
Ending Balance	17,346	28,008	25,748
Pension Liability Adjustment [Member] | Public Service Company of New Mexico [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(89,763)	(83,625)	(97,820)
Amounts reclassified from AOCI (pre-tax)	5,952	5,152	6,364
Income tax impact of amounts reclassified	(2,332)	(2,032)	(2,524)
Other OCI changes (pre-tax)	(4,405)	(15,282)	17,136
Income tax impact of other OCI changes	1,726	6,024	(6,781)
Total Other Comprehensive Income (Loss)	941	(6,138)	14,195
Ending Balance	(88,822)	(89,763)	(83,625)
Fair Value Adjustment for Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	0	0	0
Amounts reclassified from AOCI (pre-tax)	0	0	0
Income tax impact of amounts reclassified	0	0	0
Other OCI changes (pre-tax)	72	0	0
Income tax impact of other OCI changes	(28)	0	0
Total Other Comprehensive Income (Loss)	44	0	0
Ending Balance	44	0	0
Fair Value Adjustment for Cash Flow Hedges [Member] | Texas-New Mexico Power Company [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	0	(263)	(216)
Amounts reclassified from AOCI (pre-tax)	0	558	207
Income tax impact of amounts reclassified	0	(195)	(73)
Other OCI changes (pre-tax)	0	(153)	(279)
Income tax impact of other OCI changes	0	53	98
Total Other Comprehensive Income (Loss)	0	263	(47)
Ending Balance	$ 0	$ 0	$ (263)

Goodwill; Impairments (Details)

Goodwill; Impairments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2008	Dec. 31, 2015	Apr. 01, 2015	Dec. 31, 2014	Apr. 01, 2014	Dec. 31, 2013	Apr. 01, 2012
Schedule of Goodwill and Other Intangible Assets [Line Items]
Goodwill		$ 278,297		$ 278,297		$ 278,297
Goodwill impairment	$ 174,400
Public Service Company of New Mexico [Member]
Schedule of Goodwill and Other Intangible Assets [Line Items]
Goodwill		51,632	$ 51,600	51,632	$ 51,600
Percentage of fair value in excess of carrying amount			25.00%		30.00%
Percentage increase in expected return on equity			0.50%		0.50%
Reduced percentage of fair value in excess of carrying value			18.00%		23.00%
Goodwill impairment	51,100
Texas-New Mexico Power Company [Member]
Schedule of Goodwill and Other Intangible Assets [Line Items]
Goodwill		$ 226,665	$ 226,700	$ 226,665	$ 226,700
Percentage of fair value in excess of carrying amount							26.00%
Goodwill impairment	$ 34,500

Quarterly Operating Results 100

Quarterly Operating Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Operating revenues	$ 335,894	$ 417,433	$ 352,887	$ 332,868	$ 346,845	$ 413,951	$ 346,160	$ 328,897	$ 1,439,082	$ 1,435,853	$ 1,387,923
Operating income	(119,138)	121,505	72,414	49,569	62,849	116,799	71,296	48,753	124,350	299,697	286,842
Net earnings	(87,284)	64,855	35,655	17,852	22,111	59,486	33,181	16,131	31,078	130,909	115,556
Earnings Attributable to PNMR	$ (91,418)	$ 61,045	$ 31,673	$ 14,340	$ 18,992	$ 55,653	$ 29,141	$ 12,468	$ 15,640	$ 116,254	$ 100,507
Net Earnings Attributable to PNMR per Common Share:
Basic (dollars per share)	$ (1.15)	$ 0.77	$ 0.40	$ 0.18	$ 0.24	$ 0.70	$ 0.37	$ 0.16	$ 0.20	$ 1.46	$ 1.26
Diluted (dollars per share)	$ (1.15)	$ 0.76	$ 0.40	$ 0.18	$ 0.24	$ 0.69	$ 0.36	$ 0.16	$ 0.20	$ 1.45	$ 1.25
Regulatory disallowances and restructuring costs									$ 167,471	$ 1,062	$ 12,235
Public Service Company of New Mexico [Member]
Segment Reporting Information [Line Items]
Operating revenues	$ 260,368	$ 333,437	$ 275,450	$ 261,940	$ 274,481	$ 334,993	$ 275,704	$ 262,736	1,131,195	1,147,914	1,116,312
Operating income	(139,164)	93,710	47,179	31,655	40,988	90,615	49,806	31,304	33,380	212,713	209,185
Net earnings	(92,245)	53,056	25,363	13,502	16,942	49,052	24,254	11,205	(324)	101,453	102,676
Earnings Attributable to PNMR	(96,247)	49,378	21,513	10,122	13,955	45,351	20,346	7,674	(15,234)	87,326	88,155
Net Earnings Attributable to PNMR per Common Share:
Regulatory disallowances and restructuring costs									167,471	1,062	12,235
Public Service Company of New Mexico [Member] | Clean Air Act, SNCR [Member]
Net Earnings Attributable to PNMR per Common Share:
Regulatory disallowances and restructuring costs									21,600
Public Service Company of New Mexico [Member] | Clean Air Act, SNCR [Member] | San Juan Generating Station Units 2 and 3 [Member]
Net Earnings Attributable to PNMR per Common Share:
Regulatory disallowances and restructuring costs									127,600
Public Service Company of New Mexico [Member] | Increase in coal mine decommissioning liability [Member] | Clean Air Act, SNCR [Member] | San Juan Generating Station Units 2 and 3 [Member]
Net Earnings Attributable to PNMR per Common Share:
Regulatory disallowances and restructuring costs									165,700
Texas-New Mexico Power Company [Member]
Segment Reporting Information [Line Items]
Operating revenues									307,887	287,939	271,611
Operating income	19,706	27,667	24,729	17,931	21,188	25,873	21,265	17,262	90,033	85,588	72,185
Earnings Attributable to PNMR	8,715	13,689	11,865	7,694	9,115	12,355	9,534	6,803	$ 41,963	$ 37,807	$ 29,090
Operating revenues	$ 75,526	$ 83,996	$ 77,437	$ 70,928	$ 72,364	$ 78,958	$ 70,456	$ 66,161

Schedule I - Condensed Finan101

Schedule I - Condensed Financial Information of Parent Company (Statements of Earnings) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Operating Expenses									$ 1,314,732	$ 1,136,156	$ 1,101,081
Operating income	$ (119,138)	$ 121,505	$ 72,414	$ 49,569	$ 62,849	$ 116,799	$ 71,296	$ 48,753	124,350	299,697	286,842
Other Income and Deductions:
Other income									26,833	12,048	10,572
Other (deductions)									(12,728)	(10,481)	(21,552)
Net other income and deductions									36,663	20,577	9,675
Earnings before Income Taxes									46,153	200,647	175,069
Income Taxes									15,075	69,738	59,513
Net Earnings Attributable to Company	$ (91,418)	$ 61,045	$ 31,673	$ 14,340	$ 18,992	$ 55,653	$ 29,141	$ 12,468	15,640	116,254	100,507
PNM Resources [Member]
Condensed Financial Statements, Captions [Line Items]
Operating Revenues									0	0	0
Operating Expenses									1,221	650	941
Operating income									(1,221)	(650)	(941)
Other Income and Deductions:
Equity in earnings of subsidiaries									27,352	124,543	116,634
Other income									747	622	769
Other (deductions)									(8,275)	(13,650)	(22,825)
Net other income and deductions									19,824	111,515	94,578
Earnings before Income Taxes									18,603	110,865	93,637
Income Taxes									2,963	(5,389)	(6,870)
Net Earnings Attributable to Company									$ 15,640	$ 116,254	$ 100,507

Schedule I - Condensed Finan102

Schedule I - Condensed Financial Information of Parent Company (Statement of Cash flow) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Flows From Operating Activities:
Net Earnings	$ (91,418)	$ 61,045	$ 31,673	$ 14,340	$ 18,992	$ 55,653	$ 29,141	$ 12,468	$ 15,640	$ 116,254	$ 100,507
Adjustments to reconcile net earnings to net cash flows from operating activities:
Depreciation and amortization									222,861	209,867	208,173
Deferred income tax expense									16,451	72,481	60,430
Loss on reacquired debt									0	0	3,253
Stock based compensation expense									4,863	5,931	5,320
Changes in certain assets and liabilities:
Other current assets									29,370	(30,436)	8,577
Other assets									2,369	290	(12,801)
Accounts payable									(32,269)	(2,311)	4,484
Accrued interest and taxes									4,957	2,040	91,537
Other current liabilities									2,633	(2,453)	(19,648)
Other liabilities									(42,064)	45,516	(61,262)
Net cash flows from operating activities									386,874	414,876	386,587
Cash Flows From Investing Activities:
Utility plant additions									(558,589)	(460,658)	(348,039)
Net cash flows from investing activities									(544,528)	(485,329)	(331,446)
Cash Flows From Financing Activities:
Short-term loan									50,000	0	0
Short-term borrowings (repayments), net									95,000	(43,600)	(9,500)
Long-term borrowings									463,605	355,000	75,000
Repayment of long-term debt									(333,066)	(125,000)	(29,468)
Proceeds from stock option exercise									5,619	6,999	4,618
Dividends paid									(64,251)	(59,468)	(51,508)
Other, net									(6,707)	(2,808)	(5,545)
Net cash flows from financing activities									175,431	96,194	(61,593)
Change in Cash and Cash Equivalents									17,777	25,741	(6,452)
Cash and Cash Equivalents at Beginning of Year				28,274				2,533	28,274	2,533	8,985
Cash and Cash Equivalents at End of Year	46,051				28,274				46,051	28,274	2,533
Supplemental Cash Flow Disclosures:
Interest paid, net of amounts capitalized									103,382	108,741	110,768
Income taxes paid (refunded), net									(1,890)	(2,597)	(95,327)
PNM Resources [Member]
Cash Flows From Operating Activities:
Net Earnings									15,640	116,254	100,507
Adjustments to reconcile net earnings to net cash flows from operating activities:
Depreciation and amortization									509	680	4,192
Deferred income tax expense									(79,526)	(69,442)	(51,820)
Equity in (earnings) of subsidiaries									(27,352)	(124,543)	(116,634)
Loss on reacquired debt									0	0	3,253
Stock based compensation expense									4,863	5,931	5,320
Changes in certain assets and liabilities:
Other current assets									7,664	22,955	28,460
Other assets									69,443	51,644	46,558
Accounts payable									370	(88)	620
Accrued interest and taxes									4,823	(7,683)	(9,266)
Other current liabilities									0	(1,668)	(146)
Other liabilities									4,941	28,704	(27,756)
Net cash flows from operating activities									1,375	22,744	(16,712)
Cash Flows From Investing Activities:
Utility plant additions									368	(474)	(960)
Investments in subsidiaries									(175,000)	0	(13,800)
Cash dividends from subsidiaries									127,688	46,599	158,772
Net cash flows from investing activities									(46,944)	46,125	144,012
Cash Flows From Financing Activities:
Short-term loan									50,000	0	0
Short-term borrowings (repayments), net									41,000	600	(37,600)
Long-term borrowings									150,000
Repayment of long-term debt									(118,766)	0	(29,468)
Proceeds from stock option exercise									5,619	6,999	4,618
Purchases to satisfy awards of common stock									(17,720)	(17,319)	(13,807)
Dividends paid									(63,723)	(58,940)	(50,980)
Other, net									(782)	81	0
Net cash flows from financing activities									45,628	(68,579)	(127,237)
Change in Cash and Cash Equivalents									59	290	63
Cash and Cash Equivalents at Beginning of Year				$ 382				$ 92	382	92	29
Cash and Cash Equivalents at End of Year	$ 441				$ 382				441	382	92
Supplemental Cash Flow Disclosures:
Interest paid, net of amounts capitalized									7,559	12,152	14,510
Income taxes paid (refunded), net									$ (730)	$ (2,014)	$ 22,378

Schedule I - Condensed Finan103

Schedule I - Condensed Financial Information of Parent Company (Balance Sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets
Cash and cash equivalents	$ 46,051	$ 28,274	$ 2,533	$ 8,985
Income taxes receivable	5,845	6,360
Other, net	82,104	58,471
Total current assets	385,570	406,434
Property, plant and equipment, net of accumulated depreciation of $11,276 and $10,251	4,535,372	4,270,006
Other long-term assets	604	1,762
Total assets	6,009,328	5,790,237	5,426,858
Liabilities and Stockholders’ Equity
Short-term debt	250,600	105,600
Current maturities of long-term debt	124,979	332,871
Accrued interest and taxes	58,306	53,863
Other current liabilities	59,494	70,194
Total current liabilities	641,120	704,087
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs	1,966,969	1,629,514
Total liabilities	4,271,579	3,983,616
Common stock (no par value; 120,000,000 shares authorized; issued and outstanding 79,653,624 shares)	1,166,465	1,173,845
Accumulated other comprehensive income (loss), net of tax	(71,432)	(61,755)	(58,140)	(81,630)
Retained earnings	559,780	609,456
Total PNMR common stockholders’ equity	1,654,813	1,721,546
Total liabilities and stockholders' equity	6,009,328	5,790,237
PNM Resources [Member]
Assets
Cash and cash equivalents	441	382	$ 92	$ 29
Intercompany receivables	102,676	107,619
Income taxes receivable	0	29
Other, net	524	548
Total current assets	103,641	108,578
Property, plant and equipment, net of accumulated depreciation of $11,276 and $10,251	26,707	27,076
Investment in subsidiaries	1,822,593	1,757,650
Other long-term assets	81,168	78,347
Total long-term assets	1,930,468	1,863,073
Total assets	2,034,109	1,971,651
Liabilities and Stockholders’ Equity
Short-term debt	191,600	100,600
Short-term debt-affiliate	8,819	8,819
Current maturities of long-term debt	0	118,607
Accrued interest and taxes	7,780	2,816
Other current liabilities	18,282	16,320
Total current liabilities	226,481	247,162
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs	149,860	0
Other long-term liabilities	2,955	2,943
Total liabilities	379,296	250,105
Common stock (no par value; 120,000,000 shares authorized; issued and outstanding 79,653,624 shares)	1,166,465	1,173,845
Accumulated other comprehensive income (loss), net of tax	(71,432)	(61,755)
Retained earnings	559,780	609,456
Total PNMR common stockholders’ equity	1,654,813	1,721,546
Total liabilities and stockholders' equity	$ 2,034,109	$ 1,971,651

Schedule I - Condensed Finan104

Schedule I - Condensed Financial Information of Parent Company (Parenthetical) (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	79,653,624	79,653,624
Common stock, shares outstanding	79,653,624	79,653,624
PNM Resources [Member]
Condensed Financial Statements, Captions [Line Items]
Accumulated depreciation	$ 11,276	$ 10,251
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	79,653,624	79,653,624
Common stock, shares outstanding	79,653,624	79,653,624

Schedule II - Valuation and 105

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	$ 1,466	$ 1,423	$ 1,751
Charged to costs and expenses	3,358	3,267	2,849
Charged to other accounts	0	0	0
Write-offs	3,427	3,224	3,177
Balance at end of year	1,397	1,466	1,423
Public Service Company of New Mexico [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	1,466	1,423	1,751
Charged to costs and expenses	3,344	3,275	2,864
Charged to other accounts	0	0	0
Write-offs	3,413	3,232	3,192
Balance at end of year	1,397	1,466	1,423
Texas-New Mexico Power Company [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	0	0	0
Charged to costs and expenses	14	(8)	(15)
Charged to other accounts	0	0	0
Write-offs	14	(8)	(15)
Balance at end of year	$ 0	$ 0	$ 0