Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 28, 2016 | |
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | ava | |
Entity Registrant Name | AVISTA CORP | |
Entity Central Index Key | 104,918 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 64,184,399 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Operating Revenues: | ||||
Utility revenues | $ 296,989 | $ 307,405 | $ 1,022,670 | $ 1,074,642 |
Other non-utility revenues | 6,360 | 6,244 | 17,690 | 22,829 |
Total operating revenues | 303,349 | 313,649 | 1,040,360 | 1,097,471 |
Utility operating expenses: | ||||
Resource costs | 118,737 | 138,210 | 390,271 | 488,886 |
Other operating expenses | 75,160 | 74,315 | 229,605 | 220,599 |
Depreciation and amortization | 40,240 | 36,303 | 119,110 | 106,279 |
Taxes other than income taxes | 22,669 | 22,269 | 74,669 | 75,424 |
Other non-utility operating expenses: | ||||
Other operating expenses | 6,756 | 6,462 | 18,862 | 22,924 |
Depreciation and amortization | 193 | 178 | 573 | 512 |
Total operating expenses | 263,755 | 277,737 | 833,090 | 914,624 |
Income from operations | 39,594 | 35,912 | 207,270 | 182,847 |
Interest expense | 21,632 | 19,951 | 64,223 | 59,719 |
Interest expense to affiliated trusts | 164 | 120 | 456 | 347 |
Capitalized interest | (507) | (905) | (2,258) | (2,701) |
Other income-net | (1,562) | (2,123) | (7,025) | (6,190) |
Income before income taxes | 19,867 | 18,869 | 151,874 | 131,672 |
Income tax expense | 7,606 | 6,115 | 54,661 | 47,378 |
Net income from continuing operations | 12,261 | 12,754 | 97,213 | 84,294 |
Net income from discontinued operations (Note 3) | 0 | 289 | 0 | 485 |
Net income | 12,261 | 13,043 | 97,213 | 84,779 |
Net income attributable to noncontrolling interests | (27) | (32) | (76) | (73) |
Net income attributable to Avista Corporation shareholders | 12,234 | 13,011 | 97,137 | 84,706 |
Net income from continuing operations attributable to Avista Corp. shareholders | 12,234 | 12,722 | 97,137 | 84,221 |
Net income from discontinued operations attributable to Avista Corp. shareholders | $ 0 | $ 289 | $ 0 | $ 485 |
Weighted-average common shares outstanding (thousands), basic | 63,857 | 62,299 | 63,282 | 62,299 |
Weighted-average common shares outstanding (thousands), diluted | 64,325 | 62,688 | 63,687 | 62,691 |
Earnings Per Share, Basic [Abstract] | ||||
Earnings per common share from continuing operations | $ 0.19 | $ 0.21 | $ 1.53 | $ 1.35 |
Earnings per common share from discontinued operations | 0 | 0 | 0 | 0.01 |
Total earnings per common share attributable to Avista Corp. shareholders, basic | 0.19 | 0.21 | 1.53 | 1.36 |
Earnings Per Share, Diluted [Abstract] | ||||
Earnings per common share from continuing operations | 0.19 | 0.21 | 1.53 | 1.34 |
Earnings per common share from discontinued operations | 0 | 0 | 0 | 0.01 |
Total earnings per common share attributable to Avista Corp. shareholders, diluted | 0.19 | 0.21 | 1.53 | 1.35 |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.3425 | $ 0.3300 | $ 1.0275 | $ 0.9900 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Net income | $ 12,261 | $ 13,043 | $ 97,213 | $ 84,779 |
Other Comprehensive Income (Loss): | ||||
Change in unfunded benefit obligation for pension and other postretirement benefit plans - net of taxes | 140 | 246 | (949) | 737 |
Total other comprehensive loss | 140 | 246 | (949) | 737 |
Comprehensive income | 12,401 | 13,289 | 96,264 | 85,516 |
Comprehensive income attributable to noncontrolling interests | (27) | (32) | (76) | (73) |
Comprehensive income attributable to Avista Corporation shareholders | $ 12,374 | $ 13,257 | $ 96,188 | $ 85,443 |
Consolidated Statements Of Com4
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Change in unfunded benefit obligation for pension and other postretirement benefit plans - taxes | $ 75 | $ 132 | $ (512) | $ 396 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Current Assets: | ||
Cash and cash equivalents | $ 7,084 | $ 10,484 |
Accounts and notes receivable-less allowances of $4,266 and $4,530, respectively | 116,054 | 169,413 |
Regulatory asset for utility derivatives | 17,936 | 17,260 |
Materials and supplies, fuel stock and stored natural gas | 58,080 | 54,148 |
Income taxes receivable | 49,342 | 24,121 |
Other current assets | 35,879 | 30,620 |
Total current assets | 284,375 | 306,046 |
Net Utility Property: | ||
Utility plant in service | 5,386,982 | 5,129,192 |
Construction work in progress | 165,559 | 202,683 |
Total | 5,552,541 | 5,331,875 |
Less: Accumulated depreciation and amortization | 1,496,446 | 1,433,286 |
Total net utility property | 4,056,095 | 3,898,589 |
Other Non-current Assets: | ||
Investment in exchange power-net | 7,146 | 8,983 |
Investment in affiliated trusts | 11,547 | 11,547 |
Goodwill | 57,672 | 57,672 |
Long-term energy contract receivable of Spokane Energy | 3,790 | 14,694 |
Other property and investments-net | 55,799 | 50,750 |
Total other non-current assets | 135,954 | 143,646 |
Deferred Charges: | ||
Regulatory assets for deferred income tax | 100,907 | 101,240 |
Regulatory assets for pensions and other postretirement benefits | 223,596 | 235,009 |
Other regulatory assets | 132,131 | 99,798 |
Regulatory Asset For Interest Rate Swap Agreements Noncurrent | 246,981 | 83,973 |
Non-current regulatory asset for utility derivatives | 27,336 | 32,420 |
Other deferred charges | 7,731 | 5,928 |
Total deferred charges | 738,682 | 558,368 |
Total assets | 5,215,106 | 4,906,649 |
Current Liabilities: | ||
Accounts payable | 81,898 | 114,349 |
Current portion of long-term debt | 3,257 | 93,167 |
Short-term borrowings | 84,000 | 105,000 |
Utility energy commodity derivative liabilities | 8,608 | 14,268 |
Other current liabilities | 164,119 | 147,896 |
Total current liabilities | 341,882 | 474,680 |
Long-term debt | 1,678,257 | 1,480,111 |
Long-term debt to affiliated trusts | 51,547 | 51,547 |
Regulatory liability for utility plant retirement costs | 270,972 | 261,594 |
Pensions and other postretirement benefits | 202,329 | 201,453 |
Deferred income taxes | 816,334 | 747,477 |
Non-current interest rate swap derivative liabilities | 89,683 | 30,679 |
Other non-current liabilities and deferred credits | 135,578 | 130,821 |
Total liabilities | 3,586,582 | 3,378,362 |
Commitments and Contingencies (See Notes to Consolidated Financial Statements) | ||
Avista Corporation Stockholders’ Equity: | ||
Common stock, no par value; 200,000,000 shares authorized; 64,182,487 and 62,312,651 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively | 1,073,481 | 1,004,336 |
Accumulated other comprehensive loss | (7,599) | (6,650) |
Retained earnings | 562,905 | 530,940 |
Total Avista Corporation stockholders’ equity | 1,628,787 | 1,528,626 |
Noncontrolling Interests | (263) | (339) |
Total equity | 1,628,524 | 1,528,287 |
Total liabilities and equity | $ 5,215,106 | $ 4,906,649 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Accounts and notes receivable, allowances | $ 4,266 | $ 4,530 |
Common stock, par value | $ 0 | $ 0 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares outstanding | 64,182,487 | 62,312,651 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Operating Activities: | ||
Net income | $ 97,213 | $ 84,779 |
Non-cash items included in net income: | ||
Depreciation and amortization | 122,414 | 109,522 |
Provision for deferred income taxes | 87,246 | 12,381 |
Power and natural gas cost amortizations (deferrals), net | 11,422 | 10,004 |
Amortization of debt expense | 2,595 | 2,651 |
Amortization of investment in exchange power | 1,838 | 1,838 |
Stock-based compensation expense | 6,261 | 5,263 |
Equity-related AFUDC | (6,306) | (5,891) |
Pension and other postretirement benefit expense | 29,076 | 28,179 |
Amortization of Spokane Energy contract | 10,904 | 10,023 |
Gain on sale of Ecova | 0 | (710) |
Decoupling regulatory deferral | (24,693) | (5,146) |
Other | (15,163) | 4,429 |
Contributions to defined benefit pension plan | (12,000) | (12,000) |
Cash paid for settlement of interest rate swap agreements | (53,966) | 0 |
Changes in working capital components: | ||
Accounts and notes receivable | 53,726 | 49,524 |
Materials and supplies, fuel stock and natural gas stored | (3,932) | 6,621 |
Increase in collateral posted for derivative instruments | (19,754) | (9,917) |
Income taxes receivable | (25,222) | 43,266 |
Other current assets | (8,486) | 3,408 |
Accounts payable | (17,206) | (32,378) |
Income taxes payable | 713 | 158 |
Other current liabilities | 17,438 | 5,240 |
Net cash provided by operating activities | 254,118 | 311,244 |
Investing Activities: | ||
Utility property capital expenditures (excluding equity-related AFUDC) | (288,072) | (272,801) |
Other capital expenditures | (270) | (852) |
Cash paid in acquisition, net | 0 | (95) |
Other | (26,611) | 2,646 |
Net cash used in investing activities | (314,953) | (271,102) |
Financing Activities: | ||
Net increase in borrowings from committed line of credit | 82,000 | 25,000 |
Proceeds from issuance of long-term debt | 70,000 | 0 |
Redemption and maturity of long-term debt | (92,375) | (2,174) |
Maturity of nonrecourse long-term debt of Spokane Energy | 0 | (1,431) |
Issuance of common stock | 66,756 | 1,397 |
Repurchase of common stock | 0 | (2,920) |
Cash dividends paid | (65,172) | (61,828) |
Other | (3,774) | (11,015) |
Net cash provided by (used in) financing activities | 57,435 | (52,971) |
Net decrease in cash and cash equivalents | (3,400) | (12,829) |
Cash and cash equivalents at beginning of period | 10,484 | 22,143 |
Cash and cash equivalents at end of period | $ 7,084 | $ 9,314 |
Consolidated Statements Of Equi
Consolidated Statements Of Equity And Redeemable Noncontrolling Interests - USD ($) $ in Thousands | Total | Common Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] | Noncontrolling Interests [Member] |
Beginning Balance (in shares) at Dec. 31, 2014 | 62,243,374 | ||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Shares issued | 149,883 | ||||
Shares repurchased | (89,400) | ||||
Ending Balance (in shares) at Sep. 30, 2015 | 62,303,857 | ||||
Beginning Balance at Dec. 31, 2014 | $ 999,960 | $ (7,888) | $ 491,599 | ||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Equity compensation expense | 4,579 | ||||
Issuance of common stock, net of issuance costs | 1,397 | ||||
Payment of minimum tax withholdings for share-based payment awards | (1,832) | ||||
Repurchase of common stock | (1,431) | (1,489) | |||
Excess tax benefits | 43 | ||||
Other comprehensive income (loss) | $ 737 | 737 | |||
Net income attributable to Avista Corporation shareholders | 84,706 | 84,706 | |||
Cash dividends paid (common stock) | (61,828) | ||||
Ending Balance at Sep. 30, 2015 | 1,508,553 | $ 1,002,716 | (7,151) | 512,988 | |
Beginning Balance Noncontrolling Interest at Dec. 31, 2014 | $ (429) | ||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Net income attributable to noncontrolling interests | 73 | ||||
Ending Balance Noncontrolling Interest at Sep. 30, 2015 | (356) | ||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Total equity | 1,508,197 | ||||
Total equity | $ 1,528,287 | ||||
Beginning Balance (in shares) at Dec. 31, 2015 | 62,312,651 | 62,312,651 | |||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Shares issued | 1,869,836 | ||||
Shares repurchased | 0 | ||||
Ending Balance (in shares) at Sep. 30, 2016 | 64,182,487 | 64,182,487 | |||
Beginning Balance at Dec. 31, 2015 | $ 1,528,626 | $ 1,004,336 | (6,650) | 530,940 | |
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Equity compensation expense | 5,462 | ||||
Issuance of common stock, net of issuance costs | 66,756 | ||||
Payment of minimum tax withholdings for share-based payment awards | (3,073) | ||||
Repurchase of common stock | 0 | 0 | |||
Excess tax benefits | 0 | ||||
Other comprehensive income (loss) | (949) | (949) | |||
Net income attributable to Avista Corporation shareholders | 97,137 | 97,137 | |||
Cash dividends paid (common stock) | (65,172) | ||||
Ending Balance at Sep. 30, 2016 | 1,628,787 | $ 1,073,481 | $ (7,599) | $ 562,905 | |
Beginning Balance Noncontrolling Interest at Dec. 31, 2015 | 339 | (339) | |||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Net income attributable to noncontrolling interests | 76 | ||||
Ending Balance Noncontrolling Interest at Sep. 30, 2016 | 263 | $ (263) | |||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Total equity | $ 1,628,524 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business Avista Corp. is primarily an electric and natural gas utility with certain other business ventures. Avista Utilities is an operating division of Avista Corp., comprising the regulated utility operations in the Pacific Northwest. Avista Utilities provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho. Avista Utilities also provides natural gas distribution service in parts of northeastern and southwestern Oregon. Avista Utilities has electric generating facilities in Washington, Idaho, Oregon and Montana. Avista Utilities also supplies electricity to a small number of customers in Montana, most of whom are employees who operate Avista Utilities' Noxon Rapids generating facility. Alaska Energy and Resources Company (AERC) is a wholly-owned subsidiary of Avista Corp. The primary subsidiary of AERC is Alaska Electric Light and Power Company (AEL&P), which comprises Avista Corp.'s regulated utility operations in Alaska. Avista Capital, Inc. (Avista Capital), a wholly owned non-regulated subsidiary of Avista Corp., is the parent company of all of the subsidiary companies in the non-utility businesses, with the exception of AJT Mining Properties, Inc. in Alaska. Basis of Reporting The condensed consolidated financial statements include the assets, liabilities, revenues and expenses of the Company and its subsidiaries and other majority owned subsidiaries and variable interest entities for which the Company or its subsidiaries are the primary beneficiaries. Intercompany balances were eliminated in consolidation. The accompanying condensed consolidated financial statements include the Company’s proportionate share of utility plant and related operations resulting from its interests in jointly owned plants. Taxes Other Than Income Taxes Taxes other than income taxes include state excise taxes, city occupational and franchise taxes, real and personal property taxes and certain other taxes not based on income. These taxes are generally based on revenues or the value of property. Utility related taxes collected from customers (primarily state excise taxes and city utility taxes) are recorded as operating revenue and expense. Taxes other than income taxes consisted of the following items for the three and nine months ended September 30 (dollars in thousands): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Utility related taxes $ 12,095 $ 12,316 $ 43,033 $ 44,755 Property taxes 10,047 9,448 29,757 28,669 Other taxes 527 505 1,879 2,000 Total $ 22,669 $ 22,269 $ 74,669 $ 75,424 Materials and Supplies, Fuel Stock and Stored Natural Gas Inventories of materials and supplies, fuel stock and stored natural gas are recorded at average cost for our regulated operations and the lower of cost or net realizable value for our non-regulated operations and consisted of the following as of September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, December 31, 2016 2015 Materials and supplies $ 39,487 $ 37,101 Fuel stock 4,754 4,273 Stored natural gas 13,839 12,774 Total $ 58,080 $ 54,148 Derivative Assets and Liabilities Derivatives are recorded as either assets or liabilities on the Condensed Consolidated Balance Sheets measured at estimated fair value. The Washington Utilities and Transportation Commission (UTC) and the Idaho Public Utilities Commission (IPUC) issued accounting orders authorizing Avista Corp. to offset energy commodity derivative assets or liabilities with a regulatory asset or liability. This accounting treatment is intended to defer the recognition of mark-to-market gains and losses on energy commodity transactions until the period of delivery. The orders provide for Avista Corp. to not recognize the unrealized gain or loss on utility derivative commodity instruments in the Condensed Consolidated Statements of Income. Realized gains or losses are recognized in the periods of delivery, subject to approval for recovery through retail rates. Realized gains and losses, result in adjustments to retail rates through purchased gas cost adjustments, the Energy Recovery Mechanism (ERM) in Washington, the Power Cost Adjustment (PCA) mechanism in Idaho, and periodic general rates cases. Regulatory assets are assessed regularly and are probable for recovery through future rates. Substantially all forward contracts to purchase or sell power and natural gas are recorded as derivative assets or liabilities at estimated fair value with an offsetting regulatory asset or liability. Contracts that are not considered derivatives are accounted for on the accrual basis until they are settled or realized unless there is a decline in the fair value of the contract that is determined to be other-than-temporary. For interest rate swap derivatives, each period Avista Corp. records all mark-to-market gains and losses as assets and liabilities, and records offsetting regulatory assets and liabilities, such that there is no income statement impact. The interest rate swap derivatives are risk management tools similar to energy commodity derivatives. Upon settlement of interest rate swaps, the regulatory asset or liability is amortized as a component of interest expense over the term of the associated debt. The Company records an offset of interest rate swap assets and liabilities with regulatory assets and liabilities, based on the prior practice of the commissions to provide recovery through the ratemaking process. As of September 30, 2016 , the Company has multiple master netting agreements with a variety of entities that allow for cross-commodity netting of derivative agreements with the same counterparty (i.e. power derivatives can be netted with natural gas derivatives) under Accounting Standards Codification (ASC) 815-10-45. In addition, some master netting agreements allow for the netting of commodity derivatives and interest rate swap derivatives for the same counterparty. The Company does not have any agreements which allow for cross-affiliate netting among multiple affiliated legal entities. The Company nets all derivative instruments when allowed by the agreement for presentation in the Condensed Consolidated Balance Sheets. Fair Value Measurements Fair value represents the price that would be received when selling an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Energy commodity derivative assets and liabilities, deferred compensation assets, as well as derivatives related to interest rate swap derivatives and foreign currency exchange derivatives, are reported at estimated fair value on the Condensed Consolidated Balance Sheets. See Note 9 for the Company’s fair value disclosures. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss, net of tax, consisted of the following as of September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, December 31, 2016 2015 Unfunded benefit obligation for pensions and other postretirement benefit plans - net of taxes of $4,092 and $3,580, respectively $ 7,599 $ 6,650 The following table details the reclassifications out of accumulated other comprehensive loss by component for the three and nine months ended September 30 (dollars in thousands). Items in parenthesis indicate reductions to net income. Amounts Reclassified from Accumulated Other Comprehensive Loss Three months ended September 30, Nine months ended September 30, Details about Accumulated Other Comprehensive Loss Components 2016 2015 2016 2015 Affected Line Item in Statement of Income Amortization of defined benefit pension items Amortization of net prior service cost $ (312 ) $ (273 ) $ (934 ) $ (819 ) (a) Amortization of net loss 3,642 3,688 $ 10,926 $ 11,063 (a) Adjustment due to effects of regulation (3,115 ) (3,037 ) (11,453 ) (9,111 ) (a) (b) 215 378 (1,461 ) 1,133 Total before tax (75 ) (132 ) 512 (396 ) Tax benefit (expense) $ 140 $ 246 $ (949 ) $ 737 Net of tax (a) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 5 for additional details). (b) The adjustment for the effects of regulation during the nine months ended September 30, 2016 includes approximately $2.1 million related to the reclassification of a pension regulatory asset associated with one of our jurisdictions into accumulated other comprehensive loss. Contingencies The Company has unresolved regulatory, legal and tax issues which have inherently uncertain outcomes. The Company accrues a loss contingency if it is probable that a liability has been incurred and the amount of the loss or impairment can be reasonably estimated. The Company also discloses losses that do not meet these conditions for accrual if there is a reasonable possibility that a loss may be incurred. As of September 30, 2016 , the Company has not recorded any significant amounts related to unresolved contingencies. |
New Accounting Standards
New Accounting Standards | 9 Months Ended |
Sep. 30, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Standards | NEW ACCOUNTING STANDARDS In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, "Revenue from Contracts with Customers (Topic 606)," which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity identifies the various performance obligations in a contract, allocates the transaction price among the performance obligations and recognizes revenue as the entity satisfies the performance obligations. This ASU was originally effective for periods beginning after December 15, 2016 and early adoption is not permitted. In August 2015, the FASB issued ASU No. 2015-14, "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date," which deferred the effective date of ASU No. 2014-09 for one year, with adoption as of the original date permitted. However, while this ASU is not effective until 2018, it may require retroactive application to all periods presented in the financial statements. As such, at adoption, amounts from the two preceding years may have to be revised or a cumulative adjustment to opening retained earnings may have to be recorded. The Company is evaluating this standard and cannot, at this time, estimate the potential impact on its future financial condition, results of operations and cash flows. In February 2015, the FASB issued ASU No. 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis." This ASU changes the consolidation analysis required under GAAP, including the identification of variable interest entities (VIE). The ASU also removes the deferral of the VIE analysis related to investments in certain investment funds, which results in a different consolidation evaluation for these types of investments. The Company adopted this standard effective January 1, 2016. The adoption of this standard resulted in the identification of several Avista Corp. investments in limited partnerships (or a functional equivalent) that are now considered VIEs under the new standard. Consolidation of these VIEs by Avista Corp. is not required because the Company does not have majority ownership in any of the entities, it does not have the power to direct any activities of the entities and it does not have the power to appoint executive leadership (including the board of directors). Avista Corp.'s total investment in these entities is not material and it does not have any additional commitments to these VIEs beyond the initial investment. In February 2016, the FASB issued ASU No. 2016-02 “Leases (Topic 842).” This ASU introduces a new lessee model that brings most leases onto the balance sheet. The standard also aligns certain of the underlying principles of the new lessor model with those in Topic 606, the FASB’s new revenue recognition standard. Furthermore, this ASU addresses other concerns related to the current leases model; for example, eliminating the required use of bright-line tests in current GAAP for determining lease classification (operating leases versus capital leases). This ASU also includes enhanced disclosures surrounding leases. This ASU is effective for periods beginning on or after December 15, 2018; however, early adoption is permitted. Upon adoption, this ASU must be applied using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply. The Company evaluated this standard and determined that it will not early adopt this standard as of September 30, 2016 . The Company is evaluating this standard and cannot, at this time, estimate the potential impact on its future financial condition, results of operations and cash flows. In March 2016, the FASB issued ASU No. 2016-09 "Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting." This ASU simplifies several aspects of the accounting for employee share-based payment transactions including: • allowing excess tax benefits or tax deficiencies to be recognized as income tax benefits or expenses in the Statements of Income rather than in Additional Paid in Capital (APIC), • excess tax benefits no longer represent a financing cash inflow on the Statements of Cash Flows and instead will be included as an operating activity, • excess tax benefits and tax deficiencies will be excluded from the calculation of diluted earnings per share, whereas under current accounting guidance, these amounts must be estimated and included in the calculation, • allowing forfeitures to be accounted for as they occur, instead of estimating forfeitures, and • changing the statutory tax withholding requirements for share-based payments. This ASU is effective for periods beginning after December 15, 2016 and early adoption is permitted. The Company early adopted this standard during the second quarter of 2016, with a retrospective effective date of January 1, 2016. The adoption of this standard resulted in a recognized income tax benefit of $1.6 million in 2016 associated with excess tax benefits on settled share-based employee payments. Periods prior to 2016 were not restated for the adoption of this accounting standard as the Company has adopted this standard on a prospective basis beginning January 1, 2016. |
Discontinued Operations Discont
Discontinued Operations Discontinued Operations (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | DISCONTINUED OPERATIONS On June 30, 2014, Avista Capital, completed the sale of its interest in Ecova to Cofely USA Inc., an unrelated party to Avista Corp. The sales price was $335.0 million in cash, less the payment of debt and other customary closing adjustments. At the closing of the transaction on June 30, 2014, Ecova became a wholly-owned subsidiary of Cofely USA Inc. and the Company has not had and will not have any further involvement with Ecova after such date. The purchase price of $335.0 million , as adjusted, was divided among all the security holders of Ecova pro rata based on ownership. A portion of the proceeds from the transaction was held in escrow for a period of time to satisfy certain indemnification obligations under the merger agreement and to resolve adjustments to working capital. All escrow amounts were released in October 2015 and the Company received its full portion of the escrow proceeds of $13.8 million . After consideration of all escrow amounts received, the sales transaction provided cash proceeds to Avista Corp., net of debt, payment to option and minority holders, income taxes and transaction expenses, of $143.7 million and resulted in a net gain of $74.8 million . Almost all of the net gain was recognized in 2014 with some true-ups during 2015. Prior to the completion of the sales transaction, Ecova was a reportable business segment. The following table presents amounts that were included in discontinued operations for the three and nine months ended September 30, 2015 (there were no amounts recorded in the three and nine months ended September 30, 2016 ) (dollars in thousands): Three months ended September 30, 2015: Nine months ended September 30, 2015: Gain on sale of Ecova (1) $ 547 $ 710 Transaction expenses and accelerated employee benefits 24 24 Gain on sale of Ecova, net of transaction expenses 523 686 Income before income taxes 523 686 Income tax benefit (2) 234 201 Net income from discontinued operations attributable to Avista Corp. shareholders $ 289 $ 485 (1) The gain recognized during 2015 relates to the resolution of the working capital adjustment, as well as a gain associated with the favorable settlement of outstanding litigation at Ecova that was shared between the Cofely USA, Inc. and the former shareholders and option holders of Ecova. (2) The tax expense during 2015 resulted from a state tax true-up, partially offset by tax expense associated with the gain on sale and the final true-up of 2014 federal tax payments. |
Derivatives And Risk Management
Derivatives And Risk Management | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments and Hedges, Assets [Abstract] | |
Derivatives And Risk Management | DERIVATIVES AND RISK MANAGEMENT The disclosures below in Note 4 apply only to Avista Corp. and Avista Utilities; AERC and its primary subsidiary AEL&P do not enter into derivative instruments. Energy Commodity Derivatives Avista Utilities is exposed to market risks relating to changes in electricity and natural gas commodity prices and certain other fuel prices. Market risk is, in general, the risk of fluctuation in the market price of the commodity being traded and is influenced primarily by supply and demand. Market risk includes the fluctuation in the market price of associated derivative commodity instruments. Avista Utilities utilizes derivative instruments, such as forwards, futures, swaps and options in order to manage the various risks relating to these commodity price exposures. The Company has an energy resources risk policy and control procedures to manage these risks. As part of the Company's resource procurement and management operations in the electric business, the Company engages in an ongoing process of resource optimization, which involves the economic selection from available energy resources to serve the Company's load obligations and the use of these resources to capture available economic value. The Company transacts in wholesale markets by selling and purchasing electric capacity and energy, fuel for electric generation, and derivative contracts related to capacity, energy and fuel. Such transactions are part of the process of matching resources with load obligations and hedging a portion of the related financial risks. These transactions range from terms of intra-hour up to multiple years. As part of its resource procurement and management of its natural gas business, Avista Utilities makes continuing projections of its natural gas loads and assesses available natural gas resources including natural gas storage availability. Natural gas resource planning typically includes peak requirements, low and average monthly requirements and delivery constraints from natural gas supply locations to Avista Utilities’ distribution system. However, daily variations in natural gas demand can be significantly different than monthly demand projections. On the basis of these projections, Avista Utilities plans and executes a series of transactions to hedge a portion of its projected natural gas requirements through forward market transactions and derivative instruments. These transactions may extend as much as four natural gas operating years (November through October) into the future. Avista Utilities also leaves a significant portion of its natural gas supply requirements unhedged for purchase in short-term and spot markets. The Company is required to plan for sufficient natural gas delivery capacity to serve its retail customers for a theoretical peak day event. The Company generally has more pipeline and storage capacity than what is needed during periods other than a peak day. The Company optimizes its natural gas resources by using market opportunities to generate economic value that helps mitigate fixed costs. Avista Utilities also optimizes its natural gas storage capacity by purchasing and storing natural gas when prices are traditionally lower, typically in the summer, and withdrawing during higher priced months, typically during the winter. However, if market conditions and prices indicate that the Company should buy or sell natural gas during other times in the year, the Company engages in optimization transactions to capture value in the marketplace. Natural gas optimization activities include, but are not limited to, wholesale market sales of surplus natural gas supplies, purchases and sales of natural gas to optimize use of pipeline and storage capacity, and participation in the transportation capacity release market. The following table presents the underlying energy commodity derivative volumes as of September 30, 2016 that are expected to be delivered in each respective year (in thousands of MWhs and mmBTUs): Purchases Sales Electric Derivatives Gas Derivatives Electric Derivatives Gas Derivatives Year Physical (1) MWH Financial (1) MWH Physical (1) mmBTUs Financial (1) mmBTUs Physical (1) Financial (1) Physical (1) Financial (1) 2016 170 701 9,094 46,475 95 1,009 2,058 35,170 2017 403 302 5,765 98,893 333 1,205 1,360 56,938 2018 397 — — 35,628 286 438 1,360 11,978 2019 235 — 610 11,980 158 — 1,345 1,125 2020 — — 910 2,725 — — 1,430 — Thereafter — — — — — — 1,060 — The following table presents the underlying energy commodity derivative volumes as of December 31, 2015 that are expected to be delivered in each respective year (in thousands of MWhs and mmBTUs): Purchases Sales Electric Derivatives Gas Derivatives Electric Derivatives Gas Derivatives Year Physical (1) MWH Financial (1) MWH Physical (1) mmBTUs Financial (1) mmBTUs Physical (1) Financial (1) Physical (1) Financial (1) 2016 407 1,954 17,252 142,693 280 2,656 3,182 112,233 2017 397 97 675 49,200 255 483 1,360 26,965 2018 397 — — 15,118 286 — 1,360 2,738 2019 235 — 305 6,935 158 — 1,345 — 2020 — — 455 905 — — 1,430 — Thereafter — — — — — — 1,060 — (1) Physical transactions represent commodity transactions in which Avista Utilities will take or make delivery of either electricity or natural gas; financial transactions represent derivative instruments with delivery of cash in the amount of the benefit or cost but with no physical delivery of the commodity, such as futures, swaps, options, or forward contracts. The electric and natural gas derivative contracts above will be included in either power supply costs or natural gas supply costs during the period they are delivered and will be included in the various recovery mechanisms (ERM, PCA, and Purchased Gas Adjustments (PGA)), or in the general rate case process, and are expected to be collected through retail rates from customers. Foreign Currency Exchange Derivatives A significant portion of Avista Utilities’ natural gas supply (including fuel for power generation) is obtained from Canadian sources. Most of those transactions are executed in U.S. dollars, which avoids foreign currency risk. A portion of Avista Utilities’ short-term natural gas transactions and long-term Canadian transportation contracts are committed based on Canadian currency prices and settled within 60 days with U.S. dollars. Avista Utilities hedges a portion of the foreign currency risk by purchasing Canadian currency derivatives when such commodity transactions are initiated. The foreign currency exchange derivatives and the unhedged foreign currency risk have not had a material effect on the Company’s financial condition, results of operations or cash flows and these differences in cost related to currency fluctuations are included with natural gas supply costs for ratemaking. The following table summarizes the foreign currency derivatives that the Company has outstanding as of September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, December 31, 2016 2015 Number of contracts 22 24 Notional amount (in United States currency) $ 8,572 $ 1,463 Notional amount (in Canadian currency) 11,222 2,002 Interest Rate Derivatives Avista Corp. is affected by fluctuating interest rates related to a portion of its existing debt, and future borrowing requirements. The Company hedges a portion of its interest rate risk with financial derivative instruments, which may include interest rate swaps and U.S. Treasury lock agreements. These interest rate swaps and U.S. Treasury lock agreements are considered economic hedges against fluctuations in future cash flows associated with anticipated debt issuances. The following table summarizes the outstanding unsettled interest rate swaps as of September 30, 2016 and December 31, 2015 (dollars in thousands): Balance Sheet Date Number of Contracts Notional Amount Mandatory Cash Settlement Date September 30, 2016 5 $ 65,000 2017 14 275,000 2018 5 60,000 2019 1 10,000 2020 5 60,000 2022 December 31, 2015 6 $ 115,000 2016 3 45,000 2017 11 245,000 2018 2 30,000 2019 1 20,000 2022 The fair value of outstanding interest rate swaps can vary significantly from period to period depending on the total notional amount of swaps outstanding and fluctuations in market interest rates compared to the interest rates fixed by the swaps. The Company would be required to make cash payments to settle the interest rate swaps if the fixed rates are higher than prevailing market rates at the date of settlement. Conversely, the Company receives cash to settle its interest rate swaps when prevailing market rates at the time of settlement exceed the fixed swap rates. Upon settlement of interest rate swaps, the cash payments made or received are recorded as a regulatory asset or liability and are amortized as a component of interest expense over the life of the associated debt. The settled interest rate swaps are also included as a part of the Company's cost of debt calculation for ratemaking purposes. Summary of Outstanding Derivative Instruments The amounts recorded on the Condensed Consolidated Balance Sheet as of September 30, 2016 and December 31, 2015 reflect the offsetting of derivative assets and liabilities where a legal right of offset exists. The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of September 30, 2016 (in thousands): Fair Value as of September 30, 2016 Derivative and Balance Sheet Location Gross Asset Gross Liability Collateral Netted Net Asset (Liability) on Balance Sheet Foreign currency exchange derivatives Other current assets $ 27 $ (25 ) $ — $ 2 Interest rate swap derivatives Other current liabilities — (9,033 ) 8,692 (341 ) Non-current interest rate swap derivative liabilities 386 (145,737 ) 55,668 (89,683 ) Energy commodity derivatives Other current assets 823 (103 ) — 720 Current utility energy commodity derivative liabilities 27,159 (45,815 ) 10,048 (8,608 ) Other non-current liabilities, regulatory liabilities and deferred credits 5,632 (32,968 ) 7,914 (19,422 ) Total derivative instruments recorded on the balance sheet $ 34,027 $ (233,681 ) $ 82,322 $ (117,332 ) The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of December 31, 2015 (in thousands): Fair Value as of December 31, 2015 Derivative and Balance Sheet Location Gross Asset Gross Liability Collateral Net Asset Foreign currency exchange derivatives Other current liabilities $ 2 $ (19 ) $ — $ (17 ) Interest rate swap derivatives Other property and investments-net and other non-current assets 23 — — 23 Other current liabilities 118 (23,262 ) 3,880 (19,264 ) Non-current interest rate swap derivative liabilities 1,407 (62,236 ) 30,150 (30,679 ) Energy commodity derivatives Other current assets 1,236 (553 ) — 683 Current utility energy commodity derivative liabilities 67,466 (85,409 ) 3,675 (14,268 ) Other non-current liabilities, regulatory liabilities and deferred credits 6,613 (39,033 ) 10,851 (21,569 ) Total derivative instruments recorded on the balance sheet $ 76,865 $ (210,512 ) $ 48,556 $ (85,091 ) Exposure to Demands for Collateral The Company's derivative contracts often require collateral (in the form of cash or letters of credit) or other credit enhancements, or reductions or terminations of a portion of the contract through cash settlement, in the event of a downgrade in the Company's credit ratings or changes in market prices. In periods of price volatility, the level of exposure can change significantly. As a result, sudden and significant demands may be made against the Company's credit facilities and cash. The Company actively monitors the exposure to possible collateral calls and takes steps to mitigate capital requirements. The following table presents the Company's collateral outstanding related to its derivative instruments as of September 30, 2016 and December 31, 2015 (in thousands): September 30, December 31, 2016 2015 Energy commodity derivatives Cash collateral posted $ 18,140 $ 28,716 Letters of credit outstanding 27,800 28,200 Balance sheet offsetting (cash collateral against net derivative positions) 17,962 14,526 Interest rate swap derivatives Cash collateral posted 64,360 34,030 Letters of credit outstanding 39,100 9,600 Balance sheet offsetting (cash collateral against net derivative positions) 64,360 34,030 There was no cash collateral or letters of credit outstanding as of September 30, 2016 and December 31, 2015 related to foreign currency exchange derivatives. Certain of the Company’s derivative instruments contain provisions that require the Company to maintain an "investment grade" credit rating from the major credit rating agencies. If the Company’s credit ratings were to fall below "investment grade," it would be in violation of these provisions, and the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing collateralization on derivative instruments in net liability positions. The following table presents the aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a liability position and the amount of additional collateral the Company could be required to post as of September 30, 2016 and December 31, 2015 (in thousands): September 30, December 31, 2016 2015 Energy commodity derivatives Liabilities with credit-risk-related contingent features $ 2,213 $ 7,090 Additional collateral to post 1,966 6,980 Interest rate swap derivatives Liabilities with credit-risk-related contingent features 154,770 85,498 Additional collateral to post 32,230 18,750 |
Pension Plans And Other Postret
Pension Plans And Other Postretirement Benefit Plans | 9 Months Ended |
Sep. 30, 2016 | |
General Discussion of Pension and Other Postretirement Benefits [Abstract] | |
Pension Plans and Other Postretirement Benefit Plans | PENSION PLANS AND OTHER POSTRETIREMENT BENEFIT PLANS Avista Utilities The Company’s pension and other postretirement plans have not changed during the nine months ended September 30, 2016 . The Company’s funding policy is to contribute at least the minimum amounts that are required to be funded under the Employee Retirement Income Security Act, but not more than the maximum amounts that are currently deductible for income tax purposes. The Company contributed $12.0 million in cash to the pension plan for the nine months ended September 30, 2016 and does not expect to make any further contributions in 2016. The Company contributed $12.0 million in cash to the pension plan in 2015 . The Company uses a December 31 measurement date for its defined benefit pension and other postretirement benefit plans. The following table sets forth the components of net periodic benefit costs for the three and nine months ended September 30 (dollars in thousands): Pension Benefits Other Post-retirement Benefits 2016 2015 2016 2015 Three months ended September 30: Service cost $ 4,567 $ 4,984 $ 806 $ 721 Interest cost 6,895 6,531 1,530 1,292 Expected return on plan assets (6,887 ) (7,075 ) (465 ) (500 ) Amortization of prior service cost 1 6 (300 ) (287 ) Net loss recognition 2,161 2,397 1,453 1,324 Net periodic benefit cost $ 6,737 $ 6,843 $ 3,024 $ 2,550 Nine months ended September 30: Service cost $ 13,655 $ 14,917 $ 2,389 $ 2,141 Interest cost 20,695 19,734 4,623 3,915 Expected return on plan assets (20,512 ) (21,566 ) (1,415 ) (1,431 ) Amortization of prior service cost 1 18 (924 ) (853 ) Net loss recognition 6,252 7,425 4,312 3,879 Net periodic benefit cost $ 20,091 $ 20,528 $ 8,985 $ 7,651 |
Committed Lines of Credit
Committed Lines of Credit | 9 Months Ended |
Sep. 30, 2016 | |
Short-term Debt [Abstract] | |
Committed Lines of Credit | COMMITTED LINES OF CREDIT Avista Corp. Avista Corp. has a committed line of credit with various financial institutions in the total amount of $400.0 million . A two-year option was exercised by the Company in May 2016 to extend the maturity of the facility agreement to April 2021 . Balances outstanding and interest rates of borrowings (excluding letters of credit) under the Company’s revolving committed lines of credit were as follows as of September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, December 31, 2016 2015 Borrowings outstanding at end of period (1) $ 187,000 $ 105,000 Letters of credit outstanding at end of period $ 73,195 $ 44,595 Average interest rate on borrowings at end of period 1.26 % 1.18 % (1) As of September 30, 2016 , there was $187.0 million outstanding under the committed line of credit; however, $84.0 million was classified as short-term borrowings and the remaining $103.0 million was classified as long-term debt on the Condensed Consolidated Balance Sheet due to the Company's intention to refinance such amount on a long-term basis through the issuance and sale of first mortgage bonds pursuant to a bond purchase agreement entered into in August 2016. See Note 7 for further discussion of the bond purchase agreement and the refinancing of short-term debt on a long-term basis. AEL&P AEL&P has a committed line of credit in the amount of $25.0 million that expires in November 2019 . As of September 30, 2016 and December 31, 2015 , there were no borrowings or letters of credit outstanding under this committed line of credit. |
Long-Term Debt and Capital Leas
Long-Term Debt and Capital Leases Long-Term Debt and Capital Leases (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Long-term Debt and Capital Lease Obligations [Abstract] | |
Debt and Capital Leases Disclosures [Text Block] | LONG-TERM DEBT AND CAPITAL LEASES The following details long-term debt outstanding as of September 30, 2016 and December 31, 2015 (dollars in thousands): Maturity Interest September 30, December 31, Year Description Rate 2016 2015 Avista Corp. Secured Long-Term Debt 2016 First Mortgage Bonds 0.84% $ — $ 90,000 2018 First Mortgage Bonds 5.95% 250,000 250,000 2018 Secured Medium-Term Notes 7.39%-7.45% 22,500 22,500 2019 First Mortgage Bonds 5.45% 90,000 90,000 2020 First Mortgage Bonds 3.89% 52,000 52,000 2022 First Mortgage Bonds 5.13% 250,000 250,000 2023 Secured Medium-Term Notes 7.18%-7.54% 13,500 13,500 2028 Secured Medium-Term Notes 6.37% 25,000 25,000 2032 Secured Pollution Control Bonds (1) (1) 66,700 66,700 2034 Secured Pollution Control Bonds (1) (2) 17,000 17,000 2035 First Mortgage Bonds 6.25% 150,000 150,000 2037 First Mortgage Bonds 5.70% 150,000 150,000 2040 First Mortgage Bonds 5.55% 35,000 35,000 2041 First Mortgage Bonds 4.45% 85,000 85,000 2044 First Mortgage Bonds 4.11% 60,000 60,000 2045 First Mortgage Bonds 4.37% 100,000 100,000 2047 First Mortgage Bonds 4.23% 80,000 80,000 Total Avista Corp. secured long-term debt 1,446,700 1,536,700 Alaska Electric Light and Power Company Secured Long-Term Debt 2044 First Mortgage Bonds 4.54% 75,000 75,000 Alaska Energy and Resources Company Unsecured Long-Term Debt 2019 Unsecured Term Loan 3.85% 15,000 15,000 Total consolidated secured and unsecured long-term debt 1,536,700 1,626,700 Other Long-Term Debt Components Capital lease obligations 66,226 68,601 Settled interest rate swaps (2) — (26,515 ) Unamortized debt discount (833 ) (956 ) Unamortized long-term debt issuance costs (9,879 ) (10,852 ) Unsecured short-term loan to be refinanced on a long-term basis (3) 70,000 — Committed line of credit to be refinanced on a long-term basis (3) 103,000 — Total 1,765,214 1,656,978 Secured Pollution Control Bonds held by Avista Corp. (1) (83,700 ) (83,700 ) Current portion of long-term debt and capital leases (3,257 ) (93,167 ) Total long-term debt and capital leases $ 1,678,257 $ 1,480,111 (1) In December 2010, $66.7 million and $17.0 million of the City of Forsyth, Montana Pollution Control Revenue Refunding Bonds (Avista Corporation Colstrip Project) due in 2032 and 2034 , respectively, which had been held by Avista Corp. since 2008 and 2009, respectively, were refunded by new bond issues (Series 2010A and Series 2010B). The new bonds were not offered to the public and were purchased by Avista Corp. due to market conditions. The Company expects that at a later date, subject to market conditions, these bonds may be remarketed to unaffiliated investors. So long as Avista Corp. is the holder of these bonds, the bonds will not be reflected as an asset or a liability on Avista Corp.'s Condensed Consolidated Balance Sheets. (2) Prior to September 30, 2016 , settled interest rate swaps were included as part of long-term debt on the Condensed Consolidated Balance Sheets because they were considered similar to a debt discount or premium. During the third quarter 2016, the Company reevaluated the presentation of settled interest rate swaps and determined that since they are regulatory assets and liabilities that are being recovered through the ratemaking process, the more appropriate classification is as regulatory assets and liabilities rather than as a component of long-term debt. As such, as of September 30, 2016 , the Company has included unamortized settled interest rate swaps of $92.8 million in regulatory assets and $12.8 million in regulatory liabilities. The Company did not reclassify any amounts as of December 31, 2015 and prior because the amounts are not material to the financial statements. The increase in settled interest rate swaps during 2016 is due to the cash settlement of interest rate swaps during the third quarter of 2016 (discussed in detail below). There is no impact to the Condensed Consolidated Statements of Income and the Condensed Consolidated Statements of Cash Flows for any periods as a result of the balance sheet reclassification. (3) In August 2016, Avista Corp. entered into a term loan agreement with a commercial bank in the amount of $70.0 million with a maturity date of December 30, 2016. Loans under this agreement are unsecured and have a variable annual interest rate determined by either the Eurodollar rate or the Alternative Base Rate, depending on the type of loan selected by Avista Corp. The Company borrowed the entire $70.0 million available under this agreement, which was used to repay a portion of the $90.0 million in first mortgage bonds that matured in August 2016. Also in August 2016 subsequent to the $70.0 million borrowing, the Company entered into a bond purchase agreement with five institutional investors in the private placement market for the issuance and sale of $175.0 million of Avista Corp. first mortgage bonds in December 2016. The first mortgage bonds will bear a coupon rate of 3.54 percent and mature in December 2051 . The proceeds from the bonds will be received in December 2016, prior to the repayment of the $70.0 million term loan on December 30, 2016. Because the Company intends to use the funds to refinance on a long-term basis both the $70.0 million borrowing and $103.0 million outstanding under the Company's committed line of credit, a total of $173.0 million has been excluded from current liabilities and is recorded as long-term debt on the Condensed Consolidated Balance Sheets as of September 30, 2016 . In connection with the bond purchase agreement, the Company cash-settled six interest rate swap contracts (notional aggregate amount of $115.0 million ) and paid a total of $54.0 million . |
Long- Term Debt to Affiliated T
Long- Term Debt to Affiliated Trust Long-Term Debt to Affiliated Trust (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Long-Term Debt to Affiliated Trust [Abstract] | |
Long Term Debt To Affiliated Trusts Disclosure [Text Block] | LONG-TERM DEBT TO AFFILIATED TRUSTS In 1997, the Company issued Floating Rate Junior Subordinated Deferrable Interest Debentures, Series B, with a principal amount of $51.5 million to Avista Capital II, an affiliated business trust formed by the Company. Avista Capital II issued $50.0 million of Preferred Trust Securities with a floating distribution rate of LIBOR plus 0.875 percent , calculated and reset quarterly. The distribution rates paid were as follows during the nine months ended September 30, 2016 and the year ended December 31, 2015 : September 30, December 31, 2016 2015 Low distribution rate 1.29 % 1.11 % High distribution rate 1.72 % 1.29 % Distribution rate at the end of the period 1.72 % 1.29 % Concurrent with the issuance of the Preferred Trust Securities, Avista Capital II issued $1.5 million of Common Trust Securities to the Company. These debt securities may be redeemed at the option of Avista Capital II on or after June 1, 2007 and mature on June 1, 2037. In December 2000, the Company purchased $10.0 million of these Preferred Trust Securities. The Company owns 100 percent of Avista Capital II and has solely and unconditionally guaranteed the payment of distributions on, and redemption price and liquidation amount for, the Preferred Trust Securities to the extent that Avista Capital II has funds available for such payments from the respective debt securities. Upon maturity or prior redemption of such debt securities, the Preferred Trust Securities will be mandatorily redeemed. The Company does not include these capital trusts in its consolidated financial statements as Avista Corp. is not the primary beneficiary. As such, the sole assets of the capital trusts are $51.5 million of junior subordinated deferrable interest debentures of Avista Corp., which are reflected on the Condensed Consolidated Balance Sheets as of September 30, 2016 and December 31, 2015 . Interest expense to affiliated trusts in the Condensed Consolidated Statements of Income represents interest expense on these debentures. |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value | FAIR VALUE The carrying values of cash and cash equivalents, accounts and notes receivable, accounts payable, short-term borrowings and short-term borrowings to be refinanced on a long-term basis are reasonable estimates of their fair values. Long-term debt (including current portion and material capital leases) and long-term debt to affiliated trusts are reported at carrying value on the Condensed Consolidated Balance Sheets. The fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are defined as follows: Level 1 – Quoted prices are available in active markets for identical assets or liabilities. Active markets are those in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 – Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Level 3 – Pricing inputs include significant inputs that are generally unobservable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values incorporates various factors that not only include the credit standing of the counterparties involved and the impact of credit enhancements (such as cash deposits and letters of credit), but also the impact of Avista Corp.’s nonperformance risk on its liabilities. The following table sets forth the carrying value and estimated fair value of the Company’s financial instruments not reported at estimated fair value on the Condensed Consolidated Balance Sheets as of September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, 2016 December 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Long-term debt (Level 2) $ 951,000 $ 1,100,059 $ 951,000 $ 1,055,797 Long-term debt (Level 3) 502,000 572,112 592,000 595,018 Snettisham capital lease obligation (Level 3) 62,734 64,800 64,455 63,150 Long-term debt to affiliated trusts (Level 3) 51,547 38,145 51,547 36,083 These estimates of fair value of long-term debt and long-term debt to affiliated trusts were primarily based on available market information, which generally consists of estimated market prices from third party brokers for debt with similar risk and terms. The price ranges obtained from the third party brokers consisted of par values of 74.00 to 133.96 , where a par value of 100.0 represents the carrying value recorded on the Condensed Consolidated Balance Sheets. Level 2 long-term debt represents publicly issued bonds with quoted market prices; however, due to their limited trading activity, they are classified as Level 2 because brokers must generate quotes and make estimates if there is no trading activity near a period end. Level 3 long-term debt consists of private placement bonds and debt to affiliated trusts, which typically have no secondary trading activity. Fair values in Level 3 are estimated based on market prices from third party brokers using secondary market quotes for debt with similar risk and terms to generate quotes for Avista Corp. bonds. Due to the unique nature of the Snettisham capital lease obligation, the estimated fair value of these items was determined based on a discounted cash flow model using available market information. The Snettisham capital lease obligation was discounted to present value using the Moody's Aaa Corporate discount rate as published by the Federal Reserve on September 30, 2016 . The following table discloses by level within the fair value hierarchy the Company’s assets and liabilities measured and reported on the Condensed Consolidated Balance Sheets as of September 30, 2016 and December 31, 2015 at fair value on a recurring basis (dollars in thousands): Level 1 Level 2 Level 3 Counterparty Total September 30, 2016 Assets: Energy commodity derivatives $ — $ 33,589 $ — $ (32,869 ) $ 720 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 25 (25 ) — Foreign currency derivatives — 27 — (25 ) 2 Interest rate swaps — 386 — (386 ) — Deferred compensation assets: Fixed income securities (2) 1,895 — — — 1,895 Equity securities (2) 5,627 — — — 5,627 Total $ 7,522 $ 34,002 $ 25 $ (33,305 ) $ 8,244 Liabilities: Energy commodity derivatives $ — $ 55,233 $ — $ (50,831 ) $ 4,402 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 6,546 (25 ) 6,521 Power exchange agreement — — 16,310 — 16,310 Power option agreement — — 797 — 797 Foreign currency derivatives — 25 — (25 ) — Interest rate swaps — 154,770 — (64,746 ) 90,024 Total $ — $ 210,028 $ 23,653 $ (115,627 ) $ 118,054 Level 1 Level 2 Level 3 Counterparty Total December 31, 2015 Assets: Energy commodity derivatives $ — $ 74,637 $ — $ (73,954 ) $ 683 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 678 (678 ) — Foreign currency derivatives — 2 — (2 ) — Interest rate swaps — 1,548 — — 1,548 Deferred compensation assets: Fixed income securities (2) 1,727 — — — 1,727 Equity securities (2) 5,761 — — — 5,761 Total $ 7,488 $ 76,187 $ 678 $ (74,634 ) $ 9,719 Liabilities: Energy commodity derivatives $ — $ 97,193 $ — $ (88,480 ) $ 8,713 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 5,717 (678 ) 5,039 Power exchange agreement — — 21,961 — 21,961 Power option agreement — — 124 — 124 Foreign currency derivatives — 19 — (2 ) 17 Interest rate swaps — 85,498 — — 85,498 Total $ — $ 182,710 $ 27,802 $ (89,160 ) $ 121,352 (1) The Company is permitted to net derivative assets and derivative liabilities with the same counterparty when a legally enforceable master netting agreement exists. In addition, the Company nets derivative assets and derivative liabilities against any payables and receivables for cash collateral held or placed with these same counterparties. (2) These assets are trading securities and are included in other property and investments-net and other non-current assets on the Condensed Consolidated Balance Sheets. The difference between the amount of derivative assets and liabilities disclosed in respective levels in the table above and the amount of derivative assets and liabilities disclosed on the Condensed Consolidated Balance Sheets is due to netting arrangements with certain counterparties. To establish fair value for commodity derivatives, the Company uses quoted market prices and forward price curves to estimate the fair value of utility derivative commodity instruments included in Level 2. In particular, electric derivative valuations are performed using market quotes, adjusted for periods in between quotable periods. Natural gas derivative valuations are estimated using New York Mercantile Exchange (NYMEX) pricing for similar instruments, adjusted for basin differences, using market quotes. Where observable inputs are available for substantially the full term of the contract, the derivative asset or liability is included in Level 2. To establish fair values for interest rate swaps, the Company uses forward market curves for interest rates for the term of the swaps and discounts the cash flows back to present value using an appropriate discount rate. The discount rate is calculated by third party brokers according to the terms of the swap derivatives and evaluated by the Company for reasonableness, with consideration given to the potential non-performance risk by the Company. Future cash flows of the interest rate swaps are equal to the fixed interest rate in the swap compared to the floating market interest rate multiplied by the notional amount for each period. To establish fair value for foreign currency derivatives, the Company uses forward market curves for Canadian dollars against the US dollar and multiplies the difference between the locked-in price and the market price by the notional amount of the derivative. Forward foreign currency market curves are provided by third party brokers. The Company's credit spread is factored into the locked-in price of the foreign exchange contracts. Deferred compensation assets and liabilities represent funds held by the Company in a Rabbi Trust for an executive deferral plan. These funds consist of actively traded equity and bond funds with quoted prices in active markets. The balance disclosed in the table above excludes cash and cash equivalents of $0.5 million as of September 30, 2016 and $0.6 million as of December 31, 2015 . Level 3 Fair Value Under the power exchange agreement the Company purchases power at a price that is based on the average operating and maintenance (O&M) charges from three surrogate nuclear power plants around the country. To estimate the fair value of this agreement the Company estimates the difference between the purchase price based on the future O&M charges and forward prices for energy. The Company compares the Level 2 brokered quotes and forward price curves described above to an internally developed forward price which is based on the average O&M charges from the three surrogate nuclear power plants for the current year. Because the nuclear power plant O&M charges are only known for one year, all forward years are estimated assuming an annual escalation. In addition to the forward price being estimated using unobservable inputs, the Company also estimates the volumes of the transactions that will take place in the future based on historical average transaction volumes per delivery year (November to April). Significant increases or decreases in any of these inputs in isolation would result in a significantly higher or lower fair value measurement. Generally, a change in the current year O&M charges for the surrogate plants is accompanied by a directionally similar change in O&M charges in future years. There is generally not a correlation between external market prices and the O&M charges used to develop the internal forward price. For the power commodity option agreement, the Company uses the Black-Scholes-Merton valuation model to estimate the fair value, and this model includes significant inputs not observable or corroborated in the market. These inputs include: 1) the strike price (which is an internally derived price based on a combination of generation plant heat rate factors, natural gas market pricing, delivery and other O&M charges), 2) estimated delivery volumes, and 3) volatility rates. Significant increases or decreases in any of these inputs in isolation would result in a significantly higher or lower fair value measurement. Generally, changes in overall commodity market prices and volatility rates are accompanied by directionally similar changes in the strike price and volatility assumptions used in the calculation. For the natural gas commodity exchange agreement, the Company uses the same Level 2 brokered quotes described above; however, the Company also estimates the purchase and sales volumes (within contractual limits) as well as the timing of those transactions. Changing the timing of volume estimates changes the timing of purchases and sales, impacting which brokered quote is used. Because the brokered quotes can vary significantly from period to period, the unobservable estimates of the timing and volume of transactions can have a significant impact on the calculated fair value. The Company currently estimates volumes and timing of transactions based on a most likely scenario using historical data. Historically, the timing and volume of transactions have not been highly correlated with market prices and market volatility. The following table presents the quantitative information which was used to estimate the fair values of the Level 3 assets and liabilities above as of September 30, 2016 (dollars in thousands): Fair Value (Net) at September 30, 2016 Valuation Technique Unobservable Input Range Power exchange agreement $ (16,310 ) Surrogate facility pricing O&M charges $33.59-$49.15/MWh (1) Escalation factor 3% - 2017 to 2019 Transaction volumes 396,984 - 406,909 MWhs Power option agreement $ (797 ) Black-Scholes- Merton Strike price $37.46/MWh - 2019 $49.71/MWh - 2017 Delivery volumes 157,517 - 285,979 MWhs Volatility rates 0.21 (2) Natural gas exchange agreement $ (6,521 ) Internally derived Forward purchase prices $1.95 - $2.55/mmBTU Forward sales prices $2.03 - $3.37/mmBTU Purchase volumes 115,000 - 310,000 mmBTUs Sales volumes 60,000 - 310,000 mmBTUs (1) The average O&M charges for the delivery year beginning in November 2016 are $39.22 per MWh. For ratemaking purposes the average O&M charges to be included for recovery in retail rates vary slightly between regulatory jurisdictions. The average O&M charges for the delivery year beginning in 2016 are $44.33 for Washington and $39.22 for Idaho. (2) The estimated volatility rate of 0.21 is compared to actual quoted volatility rates of 0.42 for 2016 to 0.24 in September 2018 . The valuation methods, significant inputs and resulting fair values described above were developed by the Company's management and are reviewed on at least a quarterly basis to ensure they provide a reasonable estimate of fair value each reporting period. The following table presents activity for energy commodity derivative assets (liabilities) measured at fair value using significant unobservable inputs (Level 3) for the three and nine months ended September 30 (dollars in thousands): Natural Gas Exchange Agreement Power Exchange Agreement Power Option Agreement Total Three months ended September 30, 2016: Balance as of July 1, 2016 $ (6,857 ) $ (14,614 ) $ (105 ) $ (21,576 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) 336 (1,696 ) (692 ) (2,052 ) Settlements — — — — Ending balance as of September 30, 2016 (2) $ (6,521 ) $ (16,310 ) $ (797 ) $ (23,628 ) Three months ended September 30, 2015: Balance as of July 1, 2015 $ (6,825 ) $ (18,616 ) $ (145 ) $ (25,586 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) 1,800 (4,563 ) 28 (2,735 ) Settlements 282 — — 282 Ending balance as of September 30, 2015 (2) $ (4,743 ) $ (23,179 ) $ (117 ) $ (28,039 ) Nine months ended September 30, 2016: Balance as of January 1, 2016 $ (5,039 ) $ (21,961 ) $ (124 ) $ (27,124 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) (2,960 ) 272 (673 ) (3,361 ) Settlements 1,478 5,379 — 6,857 Ending balance as of September 30, 2016 (2) $ (6,521 ) $ (16,310 ) $ (797 ) $ (23,628 ) Nine months ended September 30, 2015: Balance as of January 1, 2015 $ (35 ) $ (23,299 ) $ (424 ) $ (23,758 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) (5,586 ) (4,393 ) 307 (9,672 ) Settlements 878 4,513 — 5,391 Ending balance as of September 30, 2015 (2) $ (4,743 ) $ (23,179 ) $ (117 ) $ (28,039 ) (1) All gains and losses are included in other regulatory assets and liabilities. There were no gains and losses included in either net income or other comprehensive income during any of the periods presented in the table above. (2) There were no purchases, issuances or transfers from other categories of any derivatives instruments during the periods presented in the table above. |
Common Stock Common Stock (Note
Common Stock Common Stock (Notes) | 9 Months Ended |
Sep. 30, 2016 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | COMMON STOCK In March 2016, the Company entered into four separate sales agency agreements under which the sales agents, as Avista Corp.’s agents, may offer and sell up to 3.8 million new shares of Avista Corp.'s common stock, no par value, from time to time. The sales agency agreements expire on February 29, 2020. As of September 30, 2016 , 1.6 million shares have been issued under these agreements resulting in total net proceeds of $65.6 million , leaving 2.2 million shares remaining to be issued. In the nine months ended September 30, 2016 , Avista Corp. also issued 0.3 million shares of common stock for total net proceeds of $1.2 million in share-based compensation. |
Earnings Per Common Share Attri
Earnings Per Common Share Attributable To Avista Corporation | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share Attributable To Avista Corporation Shareholders | EARNINGS PER COMMON SHARE ATTRIBUTABLE TO AVISTA CORP. SHAREHOLDERS The following table presents the computation of basic and diluted earnings per common share attributable to Avista Corp. shareholders for the three and nine months ended September 30 (in thousands, except per share amounts): Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Numerator: Net income from continuing operations attributable to Avista Corp. shareholders $ 12,234 $ 12,722 $ 97,137 $ 84,221 Net income from discontinued operations attributable to Avista Corp. shareholders — 289 — 485 Denominator: Weighted-average number of common shares outstanding-basic 63,857 62,299 63,282 62,299 Effect of dilutive securities: Performance and restricted stock awards 468 389 405 392 Weighted-average number of common shares outstanding-diluted 64,325 62,688 63,687 62,691 Earnings per common share attributable to Avista Corp. shareholders, basic: Earnings per common share from continuing operations $ 0.19 $ 0.21 $ 1.53 $ 1.35 Earnings per common share from discontinued operations $ — $ — $ — $ 0.01 Total earnings per common share attributable to Avista Corp. shareholders, basic $ 0.19 $ 0.21 $ 1.53 $ 1.36 Earnings per common share attributable to Avista Corp. shareholders, diluted: Earnings per common share from continuing operations $ 0.19 $ 0.21 $ 1.53 $ 1.34 Earnings per common share from discontinued operations $ — $ — $ — $ 0.01 Total earnings per common share attributable to Avista Corp. shareholders, diluted $ 0.19 $ 0.21 $ 1.53 $ 1.35 There were no shares excluded from the calculation because they were antidilutive. |
Commitments And Contingencies
Commitments And Contingencies | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES In the course of its business, the Company becomes involved in various claims, controversies, disputes and other contingent matters, including the items described in this Note. Some of these claims, controversies, disputes and other contingent matters involve litigation or other contested proceedings. For all such matters, the Company intends to vigorously protect and defend its interests and pursue its rights. However, no assurance can be given as to the ultimate outcome of any particular matter because litigation and other contested proceedings are inherently subject to numerous uncertainties. For matters that affect Avista Utilities’ or AEL&P's operations, the Company intends to seek, to the extent appropriate, recovery of incurred costs through the ratemaking process. California Refund Proceeding In February 2016, APX, a market maker in the California Refund Proceedings in whose markets Avista Energy participated in the summer of 2000, asserted that Avista Energy and its other customer/participants may be responsible for a share of the disgorgement penalty APX may be found to owe to the California parties. The penalty arises as a result of the Federal Energy and Regulatory Commission's (FERC) finding that APX committed violations in the California market in the summer of 2000. APX is making these assertions despite Avista Energy having been dismissed in FERC Opinion No. 536 from the on-going administrative proceeding at the FERC regarding potential wrongdoing in the California markets in the summer of 2000. APX has identified Avista Energy’s share of APX’s exposure to be as much as $16.0 million even though no wrongdoing allegations are specifically attributable to Avista Energy. Avista Energy believes its settlement insulates it from any such liability and that as a dismissed party it cannot be drawn back into the litigation. Avista Energy intends to vigorously dispute APX’s assertions of indirect liability, but cannot at this time predict the eventual outcome. Pacific Northwest Refund Proceeding In July 2001, the FERC initiated a preliminary evidentiary hearing to develop a factual record as to whether prices for spot market sales of wholesale energy in the Pacific Northwest between December 25, 2000 and June 20, 2001 were just and reasonable. In June 2003, the FERC terminated the Pacific Northwest refund proceedings, after finding that the equities do not justify the imposition of refunds. In August 2007, the Ninth Circuit found that the FERC had failed to take into account new evidence of market manipulation and that such failure was arbitrary and capricious and, accordingly, remanded the case to the FERC, stating that the FERC's findings must be reevaluated in light of the new evidence. The Ninth Circuit expressly declined to direct the FERC to grant refunds. On October 3, 2011, the FERC issued an Order on Remand (Order) and on April 5, 2013 expanded the temporal scope of the proceeding to permit parties to submit evidence on transactions during the period from January 1, 2000 through and including June 20, 2001. On July 11, 2012 and March 28, 2013, Avista Energy and Avista Corp. filed settlements of all issues in this docket with regard to the claims made by the City of Tacoma and the California AG (on behalf of the California Department of Water Resources). The FERC approved the settlements and they are final. The remaining direct claimant against Avista Corp. and Avista Energy in this proceeding is the City of Seattle, Washington (Seattle). An evidentiary, trial type hearing before an ALJ to permit parties to present evidence of unlawful market activity was conducted in the period August through October 2013. With regard to the Seattle claims, on March 28, 2014, the Presiding ALJ issued an Initial Decision finding that: 1) Seattle failed to demonstrate that either Avista Corp. or Avista Energy engaged in unlawful market activity and also failed to identify any specific contracts at issue; 2) Seattle failed to demonstrate that contracts with either Avista Corp. or Avista Energy imposed an excessive burden on consumers or seriously harmed the public interest; and that 3) Seattle failed to demonstrate that either Avista Corp. or Avista Energy engaged in any specific violations of substantive provisions of the FPA or any filed tariffs or rate schedules. Accordingly, the ALJ denied all of Seattle’s claims under both section 206 and section 309 of the FPA. On May 22, 2015, the FERC issued its Order on Initial Decision in which it upheld the ALJ’s Initial Decision denying all of Seattle’s claims against Avista Corp. and Avista Energy. Seattle filed a Request for Rehearing of the FERC’s Order on Initial Decision which was denied on December 31, 2015. Seattle appealed the FERC’s decision to the Ninth Circuit. In October 2016, Seattle settled all of the matters with the remaining parties and withdrew its appeal at the Ninth Circuit. All the parties signed the settlement agreement and a petition to dismiss the case was filed with the Ninth Circuit on October 27, 2016 . There are no remaining claims outstanding under this proceeding. The settlement did not have a material adverse effect on the Company's financial condition, results of operations or cash flows. Sierra Club and Montana Environmental Information Center Litigation In 2013, the Sierra Club and Montana Environmental Information Center (MEIC) (collectively "Plaintiffs"), filed a Complaint in the United States District Court for the District of Montana, Billings Division, against the Owners of the Colstrip Generating Project ("Colstrip"); Avista Corp. owns a 15 percent interest in Units 3 & 4 of Colstrip. The other Colstrip co-Owners are Talen (formerly PPL Montana), Puget Sound Energy, Portland General Electric Company, NorthWestern Energy and PacifiCorp. The Complaint alleged certain violations of the Clean Air Act, including the New Source Review, Title V and opacity requirements. The Complaint alleged certain violations of the Clean Air Act and the New Source Review with respect to post-January 1, 2001 Colstrip projects. The Plaintiffs requested that the Court grant injunctive and declaratory relief, order remediation of alleged environmental damages, impose civil penalties, require a beneficial environmental project in the areas affected by the alleged air pollution and require payment of Plaintiffs’ costs of litigation and attorney fees. The liability trial was scheduled to start on May 31, 2016. The parties engaged in settlement discussions with the Plaintiffs to resolve the claims raised in the litigation. On July 12, 2016, the parties filed a proposed Consent Decree with the court which contained the terms of the settlement of the matter with respect to all four units at Colstrip. The settlement does not include any monetary payments by any party, dismisses all claims against all four units, and provides for the shut-down of units 1 and 2 (which are owned solely by Talen Montana and Puget Sound Energy) no later than July, 2022. The Consent Decree was entered on September 6, 2016. The parties have petitioned the Court for costs and attorneys’ fees. This issue is pending with the Court. The Company does not expect that this matter will have a material adverse effect on its financial condition, results of operations or cash flows. Cabinet Gorge Total Dissolved Gas Abatement Plan Dissolved atmospheric gas levels (referred to as "Total Dissolved Gas" or "TDG") in the Clark Fork River exceed state of Idaho and federal water quality numeric standards downstream of Cabinet Gorge particularly during periods when excess river flows must be diverted over the spillway. Under the terms of the Clark Fork Settlement Agreement as incorporated in Avista Corp.’s FERC license for the Clark Fork Project, Avista Corp. has worked in consultation with agencies, tribes and other stakeholders to address this issue. Under the terms of a gas supersaturation mitigation plan, Avista is reducing TDG by constructing spill crest modifications on spill gates at the dam, and the Company expects to continue spill crest modifications over the next several years, in ongoing consultation with key stakeholders. Avista Corp. cannot at this time predict the outcome or estimate a range of costs associated with this contingency; however, the Company will continue to seek recovery, through the ratemaking process, of all operating and capitalized costs related to this issue. Fish Passage at Cabinet Gorge and Noxon Rapids In 1999, the United States Fish and Wildlife Service (USFWS) listed bull trout as threatened under the Endangered Species Act. In 2010, the USFWS issued a revised designation of critical habitat for bull trout, which includes the lower Clark Fork River. The USFWS issued a final recovery plan in October 2015. The Clark Fork Settlement Agreement (CFSA) describes programs intended to help restore bull trout populations in the project area. Using the concept of adaptive management and working closely with the USFWS, the Company evaluated the feasibility of fish passage at Cabinet Gorge and Noxon Rapids. The results of these studies led, in part, to the decision to move forward with development of permanent facilities, among other bull trout enhancement efforts. Parties to the CFSA are working to resolve several technical issues, including screening for fish pathogens prior to transport and several other issues of concern between the states of Montana and Idaho as well as to the USFWS and Avista. Fishway designs for Cabinet Gorge have been completed, and the Company is currently developing construction cost estimates. The Company believes its ongoing efforts through the Clark Fork Settlement Agreement continue to effectively address issues related to bull trout. Avista Corp. cannot at this time predict the outcome or estimate a range of costs associated with this contingency; however, the Company will continue to seek recovery, through the ratemaking process, of all operating and capitalized costs related to fish passage at Cabinet Gorge and Noxon Rapids. Other Contingencies In the normal course of business, the Company has various other legal claims and contingent matters outstanding. The Company believes that any ultimate liability arising from these actions will not have a material impact on its financial condition, results of operations or cash flows. It is possible that a change could occur in the Company’s estimates of the probability or amount of a liability being incurred. Such a change, should it occur, could be significant. |
Information By Business Segment
Information By Business Segments | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Information by Business Segments | INFORMATION BY BUSINESS SEGMENTS The business segment presentation reflects the basis used by the Company's management to analyze performance and determine the allocation of resources. The Company's management evaluates performance based on income (loss) from operations before income taxes as well as net income (loss) attributable to Avista Corp. shareholders. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. Avista Utilities' business is managed based on the total regulated utility operation; therefore, it is considered one segment. AEL&P is a separate reportable business segment as it has separate financial reports that are reviewed in detail by the Chief Operating Decision Maker and its operations and risks are sufficiently different from Avista Utilities and the other businesses at AERC that it cannot be aggregated with any other operating segments. The Other category, which is not a reportable segment, includes other investments and operations of various subsidiaries, as well as certain other operations of Avista Capital. The following table presents information for each of the Company’s business segments (dollars in thousands): Avista Utilities Alaska Electric Light and Power Company Total Utility Other Intersegment Eliminations (1) Total For the three months ended September 30, 2016: Operating revenues $ 287,193 $ 9,796 $ 296,989 $ 6,360 $ — $ 303,349 Resource costs 115,228 3,509 118,737 — — 118,737 Other operating expenses 72,318 2,842 75,160 6,756 — 81,916 Depreciation and amortization 38,909 1,331 40,240 193 — 40,433 Income (loss) from operations 38,554 1,629 40,183 (589 ) — 39,594 Interest expense (2) 20,772 894 21,666 149 (19 ) 21,796 Income taxes 7,983 339 8,322 (716 ) — 7,606 Net income (loss) from continuing operations attributable to Avista Corp. shareholders 12,673 866 13,539 (1,305 ) — 12,234 Capital expenditures (3) 101,558 3,699 105,257 105 — 105,362 For the three months ended September 30, 2015: Operating revenues $ 298,132 $ 9,273 $ 307,405 $ 6,244 $ — $ 313,649 Resource costs 135,048 3,162 138,210 — — 138,210 Other operating expenses 71,536 2,779 74,315 6,462 — 80,777 Depreciation and amortization 34,986 1,317 36,303 178 — 36,481 Income (loss) from operations 34,800 1,508 36,308 (396 ) — 35,912 Interest expense (2) 19,054 896 19,950 150 (29 ) 20,071 Income taxes 5,980 229 6,209 (94 ) — 6,115 Net income (loss) from continuing operations attributable to Avista Corp. shareholders 12,525 394 12,919 (197 ) — 12,722 Capital expenditures (3) 92,271 2,778 95,049 348 — 95,397 Avista Utilities Alaska Electric Light and Power Company Total Utility Other Intersegment Eliminations (1) Total For the nine months ended September 30, 2016: Operating revenues $ 989,981 $ 32,689 $ 1,022,670 $ 17,690 $ — $ 1,040,360 Resource costs 380,913 9,358 390,271 — — 390,271 Other operating expenses 221,364 8,241 229,605 18,862 — 248,467 Depreciation and amortization 115,126 3,984 119,110 573 — 119,683 Income (loss) from operations 199,661 9,354 209,015 (1,745 ) — 207,270 Interest expense (2) 61,652 2,684 64,336 459 (116 ) 64,679 Income taxes (4) 53,004 2,910 55,914 (1,253 ) — 54,661 Net income (loss) from continuing operations attributable to Avista Corp. shareholders 94,431 4,885 99,316 (2,179 ) — 97,137 Capital expenditures (3) 274,041 14,031 288,072 270 — 288,342 For the nine months ended September 30, 2015: Operating revenues $ 1,042,913 $ 32,279 $ 1,075,192 $ 22,829 $ (550 ) $ 1,097,471 Resource costs 479,604 9,282 488,886 — — 488,886 Other operating expenses 212,293 8,306 220,599 23,474 (550 ) 243,523 Depreciation and amortization 102,334 3,945 106,279 512 — 106,791 Income (loss) from operations 175,003 9,001 184,004 (1,157 ) — 182,847 Interest expense (2) 56,991 2,695 59,686 461 (81 ) 60,066 Income taxes 45,500 2,504 48,004 (626 ) — 47,378 Net income (loss) from continuing operations attributable to Avista Corp. shareholders 81,387 3,953 85,340 (1,119 ) — 84,221 Capital expenditures (3) 264,283 8,518 272,801 852 — 273,653 Total Assets: As of September 30, 2016: $ 4,889,256 $ 270,423 $ 5,159,679 $ 55,427 $ — $ 5,215,106 As of December 31, 2015: $ 4,601,708 $ 265,735 $ 4,867,443 $ 39,206 $ — $ 4,906,649 (1) Intersegment eliminations reported as operating revenues and resource costs represent intercompany purchases and sales of electric capacity and energy. Intersegment eliminations reported as interest expense and net income (loss) attributable to Avista Corp. shareholders represent intercompany interest. (2) Including interest expense to affiliated trusts. (3) The capital expenditures for the other businesses are included as other capital expenditures on the Condensed Consolidated Statements of Cash Flows. |
Summary Of Significant Accoun22
Summary Of Significant Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Nature Of Business | Nature of Business Avista Corp. is primarily an electric and natural gas utility with certain other business ventures. Avista Utilities is an operating division of Avista Corp., comprising the regulated utility operations in the Pacific Northwest. Avista Utilities provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho. Avista Utilities also provides natural gas distribution service in parts of northeastern and southwestern Oregon. Avista Utilities has electric generating facilities in Washington, Idaho, Oregon and Montana. Avista Utilities also supplies electricity to a small number of customers in Montana, most of whom are employees who operate Avista Utilities' Noxon Rapids generating facility. Alaska Energy and Resources Company (AERC) is a wholly-owned subsidiary of Avista Corp. The primary subsidiary of AERC is Alaska Electric Light and Power Company (AEL&P), which comprises Avista Corp.'s regulated utility operations in Alaska. Avista Capital, Inc. (Avista Capital), a wholly owned non-regulated subsidiary of Avista Corp., is the parent company of all of the subsidiary companies in the non-utility businesses, with the exception of AJT Mining Properties, Inc. in Alaska. |
Basis Of Reporting | Basis of Reporting The condensed consolidated financial statements include the assets, liabilities, revenues and expenses of the Company and its subsidiaries and other majority owned subsidiaries and variable interest entities for which the Company or its subsidiaries are the primary beneficiaries. Intercompany balances were eliminated in consolidation. The accompanying condensed consolidated financial statements include the Company’s proportionate share of utility plant and related operations resulting from its interests in jointly owned plants. |
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes Taxes other than income taxes include state excise taxes, city occupational and franchise taxes, real and personal property taxes and certain other taxes not based on income. These taxes are generally based on revenues or the value of property. Utility related taxes collected from customers (primarily state excise taxes and city utility taxes) are recorded as operating revenue and expense. Taxes other than income taxes consisted of the following items for the three and nine months ended September 30 (dollars in thousands): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Utility related taxes $ 12,095 $ 12,316 $ 43,033 $ 44,755 Property taxes 10,047 9,448 29,757 28,669 Other taxes 527 505 1,879 2,000 Total $ 22,669 $ 22,269 $ 74,669 $ 75,424 |
Materials And Supplies, Fuel Stock And Natural Gas Stored | Materials and Supplies, Fuel Stock and Stored Natural Gas Inventories of materials and supplies, fuel stock and stored natural gas are recorded at average cost for our regulated operations and the lower of cost or net realizable value for our non-regulated operations and consisted of the following as of September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, December 31, 2016 2015 Materials and supplies $ 39,487 $ 37,101 Fuel stock 4,754 4,273 Stored natural gas 13,839 12,774 Total $ 58,080 $ 54,148 |
Derivative Assets And Liabilities | Derivative Assets and Liabilities Derivatives are recorded as either assets or liabilities on the Condensed Consolidated Balance Sheets measured at estimated fair value. The Washington Utilities and Transportation Commission (UTC) and the Idaho Public Utilities Commission (IPUC) issued accounting orders authorizing Avista Corp. to offset energy commodity derivative assets or liabilities with a regulatory asset or liability. This accounting treatment is intended to defer the recognition of mark-to-market gains and losses on energy commodity transactions until the period of delivery. The orders provide for Avista Corp. to not recognize the unrealized gain or loss on utility derivative commodity instruments in the Condensed Consolidated Statements of Income. Realized gains or losses are recognized in the periods of delivery, subject to approval for recovery through retail rates. Realized gains and losses, result in adjustments to retail rates through purchased gas cost adjustments, the Energy Recovery Mechanism (ERM) in Washington, the Power Cost Adjustment (PCA) mechanism in Idaho, and periodic general rates cases. Regulatory assets are assessed regularly and are probable for recovery through future rates. Substantially all forward contracts to purchase or sell power and natural gas are recorded as derivative assets or liabilities at estimated fair value with an offsetting regulatory asset or liability. Contracts that are not considered derivatives are accounted for on the accrual basis until they are settled or realized unless there is a decline in the fair value of the contract that is determined to be other-than-temporary. For interest rate swap derivatives, each period Avista Corp. records all mark-to-market gains and losses as assets and liabilities, and records offsetting regulatory assets and liabilities, such that there is no income statement impact. The interest rate swap derivatives are risk management tools similar to energy commodity derivatives. Upon settlement of interest rate swaps, the regulatory asset or liability is amortized as a component of interest expense over the term of the associated debt. The Company records an offset of interest rate swap assets and liabilities with regulatory assets and liabilities, based on the prior practice of the commissions to provide recovery through the ratemaking process. As of September 30, 2016 , the Company has multiple master netting agreements with a variety of entities that allow for cross-commodity netting of derivative agreements with the same counterparty (i.e. power derivatives can be netted with natural gas derivatives) under Accounting Standards Codification (ASC) 815-10-45. In addition, some master netting agreements allow for the netting of commodity derivatives and interest rate swap derivatives for the same counterparty. The Company does not have any agreements which allow for cross-affiliate netting among multiple affiliated legal entities. The Company nets all derivative instruments when allowed by the agreement for presentation in the Condensed Consolidated Balance Sheets. |
Fair Value Measurements | Fair Value Measurements Fair value represents the price that would be received when selling an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Energy commodity derivative assets and liabilities, deferred compensation assets, as well as derivatives related to interest rate swap derivatives and foreign currency exchange derivatives, are reported at estimated fair value on the Condensed Consolidated Balance Sheets. See Note 9 for the Company’s fair value disclosures. |
Contingencies | Contingencies The Company has unresolved regulatory, legal and tax issues which have inherently uncertain outcomes. The Company accrues a loss contingency if it is probable that a liability has been incurred and the amount of the loss or impairment can be reasonably estimated. The Company also discloses losses that do not meet these conditions for accrual if there is a reasonable possibility that a loss may be incurred. As of September 30, 2016 , the Company has not recorded any significant amounts related to unresolved contingencies. |
Stockholders' Equity, Policy | Accumulated Other Comprehensive Loss Accumulated other comprehensive loss, net of tax, consisted of the following as of September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, December 31, 2016 2015 Unfunded benefit obligation for pensions and other postretirement benefit plans - net of taxes of $4,092 and $3,580, respectively $ 7,599 $ 6,650 The following table details the reclassifications out of accumulated other comprehensive loss by component for the three and nine months ended September 30 (dollars in thousands). Items in parenthesis indicate reductions to net income. Amounts Reclassified from Accumulated Other Comprehensive Loss Three months ended September 30, Nine months ended September 30, Details about Accumulated Other Comprehensive Loss Components 2016 2015 2016 2015 Affected Line Item in Statement of Income Amortization of defined benefit pension items Amortization of net prior service cost $ (312 ) $ (273 ) $ (934 ) $ (819 ) (a) Amortization of net loss 3,642 3,688 $ 10,926 $ 11,063 (a) Adjustment due to effects of regulation (3,115 ) (3,037 ) (11,453 ) (9,111 ) (a) (b) 215 378 (1,461 ) 1,133 Total before tax (75 ) (132 ) 512 (396 ) Tax benefit (expense) $ 140 $ 246 $ (949 ) $ 737 Net of tax (a) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 5 for additional details). (b) The adjustment for the effects of regulation during the nine months ended September 30, 2016 includes approximately $2.1 million related to the reclassification of a pension regulatory asset associated with one of our jurisdictions into accumulated other comprehensive loss. |
Summary Of Significant Accoun23
Summary Of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Loss Accumulated other comprehensive loss, net of tax, consisted of the following as of September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, December 31, 2016 2015 Unfunded benefit obligation for pensions and other postretirement benefit plans - net of taxes of $4,092 and $3,580, respectively $ 7,599 $ 6,650 |
Reclassifications Out of Accumulated Other Comprehensive Loss by Component | The following table details the reclassifications out of accumulated other comprehensive loss by component for the three and nine months ended September 30 (dollars in thousands). Items in parenthesis indicate reductions to net income. Amounts Reclassified from Accumulated Other Comprehensive Loss Three months ended September 30, Nine months ended September 30, Details about Accumulated Other Comprehensive Loss Components 2016 2015 2016 2015 Affected Line Item in Statement of Income Amortization of defined benefit pension items Amortization of net prior service cost $ (312 ) $ (273 ) $ (934 ) $ (819 ) (a) Amortization of net loss 3,642 3,688 $ 10,926 $ 11,063 (a) Adjustment due to effects of regulation (3,115 ) (3,037 ) (11,453 ) (9,111 ) (a) (b) 215 378 (1,461 ) 1,133 Total before tax (75 ) (132 ) 512 (396 ) Tax benefit (expense) $ 140 $ 246 $ (949 ) $ 737 Net of tax (a) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 5 for additional details). |
Utility Taxes | Utility related taxes collected from customers (primarily state excise taxes and city utility taxes) are recorded as operating revenue and expense. Taxes other than income taxes consisted of the following items for the three and nine months ended September 30 (dollars in thousands): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Utility related taxes $ 12,095 $ 12,316 $ 43,033 $ 44,755 Property taxes 10,047 9,448 29,757 28,669 Other taxes 527 505 1,879 2,000 Total $ 22,669 $ 22,269 $ 74,669 $ 75,424 |
Materials And Supplies Fuel Stock And Natural Gas Stored | Inventories of materials and supplies, fuel stock and stored natural gas are recorded at average cost for our regulated operations and the lower of cost or net realizable value for our non-regulated operations and consisted of the following as of September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, December 31, 2016 2015 Materials and supplies $ 39,487 $ 37,101 Fuel stock 4,754 4,273 Stored natural gas 13,839 12,774 Total $ 58,080 $ 54,148 |
Discontinued Operations Disco24
Discontinued Operations Discontinued Operations (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following table presents amounts that were included in discontinued operations for the three and nine months ended September 30, 2015 (there were no amounts recorded in the three and nine months ended September 30, 2016 ) (dollars in thousands): Three months ended September 30, 2015: Nine months ended September 30, 2015: Gain on sale of Ecova (1) $ 547 $ 710 Transaction expenses and accelerated employee benefits 24 24 Gain on sale of Ecova, net of transaction expenses 523 686 Income before income taxes 523 686 Income tax benefit (2) 234 201 Net income from discontinued operations attributable to Avista Corp. shareholders $ 289 $ 485 (1) The gain recognized during 2015 relates to the resolution of the working capital adjustment, as well as a gain associated with the favorable settlement of outstanding litigation at Ecova that was shared between the Cofely USA, Inc. and the former shareholders and option holders of Ecova. (2) |
Derivatives And Risk Manageme25
Derivatives And Risk Management (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments and Hedges, Assets [Abstract] | |
Energy Commodity Derivatives | The following table presents the underlying energy commodity derivative volumes as of September 30, 2016 that are expected to be delivered in each respective year (in thousands of MWhs and mmBTUs): Purchases Sales Electric Derivatives Gas Derivatives Electric Derivatives Gas Derivatives Year Physical (1) MWH Financial (1) MWH Physical (1) mmBTUs Financial (1) mmBTUs Physical (1) Financial (1) Physical (1) Financial (1) 2016 170 701 9,094 46,475 95 1,009 2,058 35,170 2017 403 302 5,765 98,893 333 1,205 1,360 56,938 2018 397 — — 35,628 286 438 1,360 11,978 2019 235 — 610 11,980 158 — 1,345 1,125 2020 — — 910 2,725 — — 1,430 — Thereafter — — — — — — 1,060 — The following table presents the underlying energy commodity derivative volumes as of December 31, 2015 that are expected to be delivered in each respective year (in thousands of MWhs and mmBTUs): Purchases Sales Electric Derivatives Gas Derivatives Electric Derivatives Gas Derivatives Year Physical (1) MWH Financial (1) MWH Physical (1) mmBTUs Financial (1) mmBTUs Physical (1) Financial (1) Physical (1) Financial (1) 2016 407 1,954 17,252 142,693 280 2,656 3,182 112,233 2017 397 97 675 49,200 255 483 1,360 26,965 2018 397 — — 15,118 286 — 1,360 2,738 2019 235 — 305 6,935 158 — 1,345 — 2020 — — 455 905 — — 1,430 — Thereafter — — — — — — 1,060 — |
Foreign Currency Exchange Contracts | The following table summarizes the foreign currency derivatives that the Company has outstanding as of September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, December 31, 2016 2015 Number of contracts 22 24 Notional amount (in United States currency) $ 8,572 $ 1,463 Notional amount (in Canadian currency) 11,222 2,002 |
Interest Rate Swap Agreements | The following table summarizes the outstanding unsettled interest rate swaps as of September 30, 2016 and December 31, 2015 (dollars in thousands): Balance Sheet Date Number of Contracts Notional Amount Mandatory Cash Settlement Date September 30, 2016 5 $ 65,000 2017 14 275,000 2018 5 60,000 2019 1 10,000 2020 5 60,000 2022 December 31, 2015 6 $ 115,000 2016 3 45,000 2017 11 245,000 2018 2 30,000 2019 1 20,000 2022 |
Derivative Instruments Summary | The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of September 30, 2016 (in thousands): Fair Value as of September 30, 2016 Derivative and Balance Sheet Location Gross Asset Gross Liability Collateral Netted Net Asset (Liability) on Balance Sheet Foreign currency exchange derivatives Other current assets $ 27 $ (25 ) $ — $ 2 Interest rate swap derivatives Other current liabilities — (9,033 ) 8,692 (341 ) Non-current interest rate swap derivative liabilities 386 (145,737 ) 55,668 (89,683 ) Energy commodity derivatives Other current assets 823 (103 ) — 720 Current utility energy commodity derivative liabilities 27,159 (45,815 ) 10,048 (8,608 ) Other non-current liabilities, regulatory liabilities and deferred credits 5,632 (32,968 ) 7,914 (19,422 ) Total derivative instruments recorded on the balance sheet $ 34,027 $ (233,681 ) $ 82,322 $ (117,332 ) The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of December 31, 2015 (in thousands): Fair Value as of December 31, 2015 Derivative and Balance Sheet Location Gross Asset Gross Liability Collateral Net Asset Foreign currency exchange derivatives Other current liabilities $ 2 $ (19 ) $ — $ (17 ) Interest rate swap derivatives Other property and investments-net and other non-current assets 23 — — 23 Other current liabilities 118 (23,262 ) 3,880 (19,264 ) Non-current interest rate swap derivative liabilities 1,407 (62,236 ) 30,150 (30,679 ) Energy commodity derivatives Other current assets 1,236 (553 ) — 683 Current utility energy commodity derivative liabilities 67,466 (85,409 ) 3,675 (14,268 ) Other non-current liabilities, regulatory liabilities and deferred credits 6,613 (39,033 ) 10,851 (21,569 ) Total derivative instruments recorded on the balance sheet $ 76,865 $ (210,512 ) $ 48,556 $ (85,091 ) |
Schedule of Assets Pledged as Collateral and Related Offsets [Table Text Block] | The following table presents the Company's collateral outstanding related to its derivative instruments as of September 30, 2016 and December 31, 2015 (in thousands): September 30, December 31, 2016 2015 Energy commodity derivatives Cash collateral posted $ 18,140 $ 28,716 Letters of credit outstanding 27,800 28,200 Balance sheet offsetting (cash collateral against net derivative positions) 17,962 14,526 Interest rate swap derivatives Cash collateral posted 64,360 34,030 Letters of credit outstanding 39,100 9,600 Balance sheet offsetting (cash collateral against net derivative positions) 64,360 34,030 There was no cash collateral or letters of credit outstanding as of September 30, 2016 and December 31, 2015 related to foreign currency exchange derivatives. Certain of the Company’s derivative instruments contain provisions that require the Company to maintain an "investment grade" credit rating from the major credit rating agencies. If the Company’s credit ratings were to fall below "investment grade," it would be in violation of these provisions, and the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing collateralization on derivative instruments in net liability positions. The following table presents the aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a liability position and the amount of additional collateral the Company could be required to post as of September 30, 2016 and December 31, 2015 (in thousands): September 30, December 31, 2016 2015 Energy commodity derivatives Liabilities with credit-risk-related contingent features $ 2,213 $ 7,090 Additional collateral to post 1,966 6,980 Interest rate swap derivatives Liabilities with credit-risk-related contingent features 154,770 85,498 Additional collateral to post 32,230 18,750 |
Pension Plans And Other Postr26
Pension Plans And Other Postretirement Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Components of Net Periodic Benefit Cost | Pension Benefits Other Post-retirement Benefits 2016 2015 2016 2015 Three months ended September 30: Service cost $ 4,567 $ 4,984 $ 806 $ 721 Interest cost 6,895 6,531 1,530 1,292 Expected return on plan assets (6,887 ) (7,075 ) (465 ) (500 ) Amortization of prior service cost 1 6 (300 ) (287 ) Net loss recognition 2,161 2,397 1,453 1,324 Net periodic benefit cost $ 6,737 $ 6,843 $ 3,024 $ 2,550 Nine months ended September 30: Service cost $ 13,655 $ 14,917 $ 2,389 $ 2,141 Interest cost 20,695 19,734 4,623 3,915 Expected return on plan assets (20,512 ) (21,566 ) (1,415 ) (1,431 ) Amortization of prior service cost 1 18 (924 ) (853 ) Net loss recognition 6,252 7,425 4,312 3,879 Net periodic benefit cost $ 20,091 $ 20,528 $ 8,985 $ 7,651 |
Committed Lines of Credit (Tabl
Committed Lines of Credit (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Short-term Debt [Abstract] | |
Schedule of Line of Credit Facilities [Table Text Block] | Balances outstanding and interest rates of borrowings (excluding letters of credit) under the Company’s revolving committed lines of credit were as follows as of September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, December 31, 2016 2015 Borrowings outstanding at end of period (1) $ 187,000 $ 105,000 Letters of credit outstanding at end of period $ 73,195 $ 44,595 Average interest rate on borrowings at end of period 1.26 % 1.18 % |
Long-Term Debt and Capital Le28
Long-Term Debt and Capital Leases Long-Term Debt and Capital Leases (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Long-term Debt and Capital Lease Obligations [Abstract] | |
Schedule of Long-term Debt Instruments [Table Text Block] | The following details long-term debt outstanding as of September 30, 2016 and December 31, 2015 (dollars in thousands): Maturity Interest September 30, December 31, Year Description Rate 2016 2015 Avista Corp. Secured Long-Term Debt 2016 First Mortgage Bonds 0.84% $ — $ 90,000 2018 First Mortgage Bonds 5.95% 250,000 250,000 2018 Secured Medium-Term Notes 7.39%-7.45% 22,500 22,500 2019 First Mortgage Bonds 5.45% 90,000 90,000 2020 First Mortgage Bonds 3.89% 52,000 52,000 2022 First Mortgage Bonds 5.13% 250,000 250,000 2023 Secured Medium-Term Notes 7.18%-7.54% 13,500 13,500 2028 Secured Medium-Term Notes 6.37% 25,000 25,000 2032 Secured Pollution Control Bonds (1) (1) 66,700 66,700 2034 Secured Pollution Control Bonds (1) (2) 17,000 17,000 2035 First Mortgage Bonds 6.25% 150,000 150,000 2037 First Mortgage Bonds 5.70% 150,000 150,000 2040 First Mortgage Bonds 5.55% 35,000 35,000 2041 First Mortgage Bonds 4.45% 85,000 85,000 2044 First Mortgage Bonds 4.11% 60,000 60,000 2045 First Mortgage Bonds 4.37% 100,000 100,000 2047 First Mortgage Bonds 4.23% 80,000 80,000 Total Avista Corp. secured long-term debt 1,446,700 1,536,700 Alaska Electric Light and Power Company Secured Long-Term Debt 2044 First Mortgage Bonds 4.54% 75,000 75,000 Alaska Energy and Resources Company Unsecured Long-Term Debt 2019 Unsecured Term Loan 3.85% 15,000 15,000 Total consolidated secured and unsecured long-term debt 1,536,700 1,626,700 Other Long-Term Debt Components Capital lease obligations 66,226 68,601 Settled interest rate swaps (2) — (26,515 ) Unamortized debt discount (833 ) (956 ) Unamortized long-term debt issuance costs (9,879 ) (10,852 ) Unsecured short-term loan to be refinanced on a long-term basis (3) 70,000 — Committed line of credit to be refinanced on a long-term basis (3) 103,000 — Total 1,765,214 1,656,978 Secured Pollution Control Bonds held by Avista Corp. (1) (83,700 ) (83,700 ) Current portion of long-term debt and capital leases (3,257 ) (93,167 ) Total long-term debt and capital leases $ 1,678,257 $ 1,480,111 (1) In December 2010, $66.7 million and $17.0 million of the City of Forsyth, Montana Pollution Control Revenue Refunding Bonds (Avista Corporation Colstrip Project) due in 2032 and 2034 , respectively, which had been held by Avista Corp. since 2008 and 2009, respectively, were refunded by new bond issues (Series 2010A and Series 2010B). The new bonds were not offered to the public and were purchased by Avista Corp. due to market conditions. The Company expects that at a later date, subject to market conditions, these bonds may be remarketed to unaffiliated investors. So long as Avista Corp. is the holder of these bonds, the bonds will not be reflected as an asset or a liability on Avista Corp.'s Condensed Consolidated Balance Sheets. (2) Prior to September 30, 2016 , settled interest rate swaps were included as part of long-term debt on the Condensed Consolidated Balance Sheets because they were considered similar to a debt discount or premium. During the third quarter 2016, the Company reevaluated the presentation of settled interest rate swaps and determined that since they are regulatory assets and liabilities that are being recovered through the ratemaking process, the more appropriate classification is as regulatory assets and liabilities rather than as a component of long-term debt. As such, as of September 30, 2016 , the Company has included unamortized settled interest rate swaps of $92.8 million in regulatory assets and $12.8 million in regulatory liabilities. The Company did not reclassify any amounts as of December 31, 2015 and prior because the amounts are not material to the financial statements. The increase in settled interest rate swaps during 2016 is due to the cash settlement of interest rate swaps during the third quarter of 2016 (discussed in detail below). There is no impact to the Condensed Consolidated Statements of Income and the Condensed Consolidated Statements of Cash Flows for any periods as a result of the balance sheet reclassification. (3) In August 2016, Avista Corp. entered into a term loan agreement with a commercial bank in the amount of $70.0 million with a maturity date of December 30, 2016. Loans under this agreement are unsecured and have a variable annual interest rate determined by either the Eurodollar rate or the Alternative Base Rate, depending on the type of loan selected by Avista Corp. The Company borrowed the entire $70.0 million available under this agreement, which was used to repay a portion of the $90.0 million in first mortgage bonds that matured in August 2016. Also in August 2016 subsequent to the $70.0 million borrowing, the Company entered into a bond purchase agreement with five institutional investors in the private placement market for the issuance and sale of $175.0 million of Avista Corp. first mortgage bonds in December 2016. The first mortgage bonds will bear a coupon rate of 3.54 percent and mature in December 2051 . The proceeds from the bonds will be received in December 2016, prior to the repayment of the $70.0 million term loan on December 30, 2016. Because the Company intends to use the funds to refinance on a long-term basis both the $70.0 million borrowing and $103.0 million outstanding under the Company's committed line of credit, a total of $173.0 million has been excluded from current liabilities and is recorded as long-term debt on the Condensed Consolidated Balance Sheets as of September 30, 2016 . In connection with the bond purchase agreement, the Company cash-settled six interest rate swap contracts (notional aggregate amount of $115.0 million ) and paid a total of $54.0 million . |
Long- Term Debt to Affiliated29
Long- Term Debt to Affiliated Trust Long-Term Debt to Affiliated Trust (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Long-Term Debt to Affiliated Trust [Abstract] | |
Schedule Of Distribution Rates Paid [Table Text Block] | The distribution rates paid were as follows during the nine months ended September 30, 2016 and the year ended December 31, 2015 : September 30, December 31, 2016 2015 Low distribution rate 1.29 % 1.11 % High distribution rate 1.72 % 1.29 % Distribution rate at the end of the period 1.72 % 1.29 % |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | |
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | The following table presents the quantitative information which was used to estimate the fair values of the Level 3 assets and liabilities above as of September 30, 2016 (dollars in thousands): Fair Value (Net) at September 30, 2016 Valuation Technique Unobservable Input Range Power exchange agreement $ (16,310 ) Surrogate facility pricing O&M charges $33.59-$49.15/MWh (1) Escalation factor 3% - 2017 to 2019 Transaction volumes 396,984 - 406,909 MWhs Power option agreement $ (797 ) Black-Scholes- Merton Strike price $37.46/MWh - 2019 $49.71/MWh - 2017 Delivery volumes 157,517 - 285,979 MWhs Volatility rates 0.21 (2) Natural gas exchange agreement $ (6,521 ) Internally derived Forward purchase prices $1.95 - $2.55/mmBTU Forward sales prices $2.03 - $3.37/mmBTU Purchase volumes 115,000 - 310,000 mmBTUs Sales volumes 60,000 - 310,000 mmBTUs |
Carrying Value and Estimated Fair Value of Financial Instruments | The following table sets forth the carrying value and estimated fair value of the Company’s financial instruments not reported at estimated fair value on the Condensed Consolidated Balance Sheets as of September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, 2016 December 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Long-term debt (Level 2) $ 951,000 $ 1,100,059 $ 951,000 $ 1,055,797 Long-term debt (Level 3) 502,000 572,112 592,000 595,018 Snettisham capital lease obligation (Level 3) 62,734 64,800 64,455 63,150 Long-term debt to affiliated trusts (Level 3) 51,547 38,145 51,547 36,083 |
Fair Value of Assets And Liabilities Measured on Recurring Basis | Level 1 Level 2 Level 3 Counterparty Total September 30, 2016 Assets: Energy commodity derivatives $ — $ 33,589 $ — $ (32,869 ) $ 720 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 25 (25 ) — Foreign currency derivatives — 27 — (25 ) 2 Interest rate swaps — 386 — (386 ) — Deferred compensation assets: Fixed income securities (2) 1,895 — — — 1,895 Equity securities (2) 5,627 — — — 5,627 Total $ 7,522 $ 34,002 $ 25 $ (33,305 ) $ 8,244 Liabilities: Energy commodity derivatives $ — $ 55,233 $ — $ (50,831 ) $ 4,402 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 6,546 (25 ) 6,521 Power exchange agreement — — 16,310 — 16,310 Power option agreement — — 797 — 797 Foreign currency derivatives — 25 — (25 ) — Interest rate swaps — 154,770 — (64,746 ) 90,024 Total $ — $ 210,028 $ 23,653 $ (115,627 ) $ 118,054 Level 1 Level 2 Level 3 Counterparty Total December 31, 2015 Assets: Energy commodity derivatives $ — $ 74,637 $ — $ (73,954 ) $ 683 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 678 (678 ) — Foreign currency derivatives — 2 — (2 ) — Interest rate swaps — 1,548 — — 1,548 Deferred compensation assets: Fixed income securities (2) 1,727 — — — 1,727 Equity securities (2) 5,761 — — — 5,761 Total $ 7,488 $ 76,187 $ 678 $ (74,634 ) $ 9,719 Liabilities: Energy commodity derivatives $ — $ 97,193 $ — $ (88,480 ) $ 8,713 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 5,717 (678 ) 5,039 Power exchange agreement — — 21,961 — 21,961 Power option agreement — — 124 — 124 Foreign currency derivatives — 19 — (2 ) 17 Interest rate swaps — 85,498 — — 85,498 Total $ — $ 182,710 $ 27,802 $ (89,160 ) $ 121,352 (1) The Company is permitted to net derivative assets and derivative liabilities with the same counterparty when a legally enforceable master netting agreement exists. In addition, the Company nets derivative assets and derivative liabilities against any payables and receivables for cash collateral held or placed with these same counterparties. (2) These assets are trading securities and are included in other property and investments-net and other non-current assets on the Condensed Consolidated Balance Sheets. |
Reconciliation for All Assets Measured At Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | Natural Gas Exchange Agreement Power Exchange Agreement Power Option Agreement Total Three months ended September 30, 2016: Balance as of July 1, 2016 $ (6,857 ) $ (14,614 ) $ (105 ) $ (21,576 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) 336 (1,696 ) (692 ) (2,052 ) Settlements — — — — Ending balance as of September 30, 2016 (2) $ (6,521 ) $ (16,310 ) $ (797 ) $ (23,628 ) Three months ended September 30, 2015: Balance as of July 1, 2015 $ (6,825 ) $ (18,616 ) $ (145 ) $ (25,586 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) 1,800 (4,563 ) 28 (2,735 ) Settlements 282 — — 282 Ending balance as of September 30, 2015 (2) $ (4,743 ) $ (23,179 ) $ (117 ) $ (28,039 ) Nine months ended September 30, 2016: Balance as of January 1, 2016 $ (5,039 ) $ (21,961 ) $ (124 ) $ (27,124 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) (2,960 ) 272 (673 ) (3,361 ) Settlements 1,478 5,379 — 6,857 Ending balance as of September 30, 2016 (2) $ (6,521 ) $ (16,310 ) $ (797 ) $ (23,628 ) Nine months ended September 30, 2015: Balance as of January 1, 2015 $ (35 ) $ (23,299 ) $ (424 ) $ (23,758 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) (5,586 ) (4,393 ) 307 (9,672 ) Settlements 878 4,513 — 5,391 Ending balance as of September 30, 2015 (2) $ (4,743 ) $ (23,179 ) $ (117 ) $ (28,039 ) (1) All gains and losses are included in other regulatory assets and liabilities. There were no gains and losses included in either net income or other comprehensive income during any of the periods presented in the table above. (2) There were no purchases, issuances or transfers from other categories of any derivatives instruments during the periods presented in the table above. |
Earnings Per Common Share Att31
Earnings Per Common Share Attributable To Avista Corporation (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Computations Of Earnings Per Share | Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 Numerator: Net income from continuing operations attributable to Avista Corp. shareholders $ 12,234 $ 12,722 $ 97,137 $ 84,221 Net income from discontinued operations attributable to Avista Corp. shareholders — 289 — 485 Denominator: Weighted-average number of common shares outstanding-basic 63,857 62,299 63,282 62,299 Effect of dilutive securities: Performance and restricted stock awards 468 389 405 392 Weighted-average number of common shares outstanding-diluted 64,325 62,688 63,687 62,691 Earnings per common share attributable to Avista Corp. shareholders, basic: Earnings per common share from continuing operations $ 0.19 $ 0.21 $ 1.53 $ 1.35 Earnings per common share from discontinued operations $ — $ — $ — $ 0.01 Total earnings per common share attributable to Avista Corp. shareholders, basic $ 0.19 $ 0.21 $ 1.53 $ 1.36 Earnings per common share attributable to Avista Corp. shareholders, diluted: Earnings per common share from continuing operations $ 0.19 $ 0.21 $ 1.53 $ 1.34 Earnings per common share from discontinued operations $ — $ — $ — $ 0.01 Total earnings per common share attributable to Avista Corp. shareholders, diluted $ 0.19 $ 0.21 $ 1.53 $ 1.35 There were no shares excluded from the calculation because they were antidilutive. |
Information By Business Segme32
Information By Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Information by Business Segments | The following table presents information for each of the Company’s business segments (dollars in thousands): Avista Utilities Alaska Electric Light and Power Company Total Utility Other Intersegment Eliminations (1) Total For the three months ended September 30, 2016: Operating revenues $ 287,193 $ 9,796 $ 296,989 $ 6,360 $ — $ 303,349 Resource costs 115,228 3,509 118,737 — — 118,737 Other operating expenses 72,318 2,842 75,160 6,756 — 81,916 Depreciation and amortization 38,909 1,331 40,240 193 — 40,433 Income (loss) from operations 38,554 1,629 40,183 (589 ) — 39,594 Interest expense (2) 20,772 894 21,666 149 (19 ) 21,796 Income taxes 7,983 339 8,322 (716 ) — 7,606 Net income (loss) from continuing operations attributable to Avista Corp. shareholders 12,673 866 13,539 (1,305 ) — 12,234 Capital expenditures (3) 101,558 3,699 105,257 105 — 105,362 For the three months ended September 30, 2015: Operating revenues $ 298,132 $ 9,273 $ 307,405 $ 6,244 $ — $ 313,649 Resource costs 135,048 3,162 138,210 — — 138,210 Other operating expenses 71,536 2,779 74,315 6,462 — 80,777 Depreciation and amortization 34,986 1,317 36,303 178 — 36,481 Income (loss) from operations 34,800 1,508 36,308 (396 ) — 35,912 Interest expense (2) 19,054 896 19,950 150 (29 ) 20,071 Income taxes 5,980 229 6,209 (94 ) — 6,115 Net income (loss) from continuing operations attributable to Avista Corp. shareholders 12,525 394 12,919 (197 ) — 12,722 Capital expenditures (3) 92,271 2,778 95,049 348 — 95,397 Avista Utilities Alaska Electric Light and Power Company Total Utility Other Intersegment Eliminations (1) Total For the nine months ended September 30, 2016: Operating revenues $ 989,981 $ 32,689 $ 1,022,670 $ 17,690 $ — $ 1,040,360 Resource costs 380,913 9,358 390,271 — — 390,271 Other operating expenses 221,364 8,241 229,605 18,862 — 248,467 Depreciation and amortization 115,126 3,984 119,110 573 — 119,683 Income (loss) from operations 199,661 9,354 209,015 (1,745 ) — 207,270 Interest expense (2) 61,652 2,684 64,336 459 (116 ) 64,679 Income taxes (4) 53,004 2,910 55,914 (1,253 ) — 54,661 Net income (loss) from continuing operations attributable to Avista Corp. shareholders 94,431 4,885 99,316 (2,179 ) — 97,137 Capital expenditures (3) 274,041 14,031 288,072 270 — 288,342 For the nine months ended September 30, 2015: Operating revenues $ 1,042,913 $ 32,279 $ 1,075,192 $ 22,829 $ (550 ) $ 1,097,471 Resource costs 479,604 9,282 488,886 — — 488,886 Other operating expenses 212,293 8,306 220,599 23,474 (550 ) 243,523 Depreciation and amortization 102,334 3,945 106,279 512 — 106,791 Income (loss) from operations 175,003 9,001 184,004 (1,157 ) — 182,847 Interest expense (2) 56,991 2,695 59,686 461 (81 ) 60,066 Income taxes 45,500 2,504 48,004 (626 ) — 47,378 Net income (loss) from continuing operations attributable to Avista Corp. shareholders 81,387 3,953 85,340 (1,119 ) — 84,221 Capital expenditures (3) 264,283 8,518 272,801 852 — 273,653 Total Assets: As of September 30, 2016: $ 4,889,256 $ 270,423 $ 5,159,679 $ 55,427 $ — $ 5,215,106 As of December 31, 2015: $ 4,601,708 $ 265,735 $ 4,867,443 $ 39,206 $ — $ 4,906,649 (1) Intersegment eliminations reported as operating revenues and resource costs represent intercompany purchases and sales of electric capacity and energy. Intersegment eliminations reported as interest expense and net income (loss) attributable to Avista Corp. shareholders represent intercompany interest. (2) Including interest expense to affiliated trusts. (3) The capital expenditures for the other businesses are included as other capital expenditures on the Condensed Consolidated Statements of Cash Flows. |
Summary Of Significant Accoun33
Summary Of Significant Accounting Policies (Utility Taxes) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Accounting Policies [Abstract] | ||||
Utility related taxes | $ 12,095 | $ 12,316 | $ 43,033 | $ 44,755 |
Property taxes | 10,047 | 9,448 | 29,757 | 28,669 |
Other taxes | 527 | 505 | 1,879 | 2,000 |
Utilities Operating Expense, Taxes | $ 22,669 | $ 22,269 | $ 74,669 | $ 75,424 |
Summary Of Significant Accoun34
Summary Of Significant Accounting Policies (Materials And Supplies Fuel Stock And Natural Gas Stored) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Accounting Policies [Abstract] | ||
Materials and supplies | $ 39,487 | $ 37,101 |
Fuel stock | 4,754 | 4,273 |
Natural gas stored | 13,839 | 12,774 |
Total | $ 58,080 | $ 54,148 |
Summary Of Significant Accoun35
Summary Of Significant Accounting Policies Summary of Significant Accounting Policies (Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans Net Unamortized (Gain) Loss, Tax | $ 4,092 | $ 3,580 |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | 7,599 | 6,650 |
Accumulated other comprehensive loss | $ (7,599) | $ (6,650) |
Summary Of Significant Accoun36
Summary Of Significant Accounting Policies (Reclassifications Out of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Reclassification Out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income tax expense | $ (7,606) | $ (6,115) | $ (54,661) | $ (47,378) |
Total other comprehensive loss | 140 | 246 | (949) | 737 |
Reclassification Out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Reclassification Out of Accumulated Other Comprehensive Income [Line Items] | ||||
Total before tax | 215 | 378 | (1,461) | 1,133 |
Income tax expense | (75) | (132) | 512 | (396) |
Total other comprehensive loss | 140 | 246 | (949) | 737 |
Amortization of net loss | (312) | (273) | (934) | (819) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Gain (Loss), before Tax | 3,642 | 3,688 | 10,926 | 11,063 |
Adjustment due to effects of regulation | (3,115) | $ (3,037) | $ (11,453) | $ (9,111) |
OREGON | Reclassification Out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Reclassification Out of Accumulated Other Comprehensive Income [Line Items] | ||||
Adjustment due to effects of regulation | $ (2,100) |
New Accounting Standards New Ac
New Accounting Standards New Accounting Standards (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Accounting Changes and Error Corrections [Abstract] | |
Excess Tax Benefit Realized from Exercise of Stock Compensation Instruments | $ 1.6 |
Discontinued Operations Disco38
Discontinued Operations Discontinued Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 24 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Jun. 30, 2014 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Gain on sale of Ecova | $ 0 | $ 710 | ||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | $ 0 | $ 289 | $ 0 | 485 | ||
Ecova [Member] | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Business Disposition Contract Price | $ 335,000 | |||||
Escrow Receivable | $ (13,800) | |||||
Proceeds from Divestiture of Businesses | 143,700 | |||||
Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $ 74,800 | |||||
Gain on sale of Ecova | 547 | 710 | ||||
Transaction Expenses and Accelerated Employee Benefits | 24 | 24 | ||||
Gain on Sale of Ecova, Net of Transaction Expenses | 523 | 686 | ||||
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 523 | 686 | ||||
Discontinued Operation, Tax Effect of Discontinued Operation | 234 | 201 | ||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | $ 289 | $ 485 |
Derivatives And Risk Manageme39
Derivatives And Risk Management (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative [Line Items] | ||
Derivative, Fair Value, Amount Offset Against Collateral, Net | $ 82,322 | $ 48,556 |
Commodity Contracts [Member] | ||
Derivative [Line Items] | ||
Cash deposited as collateral | 18,140 | 28,716 |
Letters of credit outstanding | 27,800 | 28,200 |
Derivative, Fair Value, Amount Offset Against Collateral, Net | 17,962 | 14,526 |
Liability position at aggregate fair value | 2,213 | 7,090 |
Additional Collateral, Aggregate Fair Value | 1,966 | 6,980 |
Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Cash deposited as collateral | 64,360 | 34,030 |
Letters of credit outstanding | 39,100 | 9,600 |
Derivative, Fair Value, Amount Offset Against Collateral, Net | 64,360 | 34,030 |
Liability position at aggregate fair value | 154,770 | 85,498 |
Additional Collateral, Aggregate Fair Value | $ 32,230 | $ 18,750 |
Derivatives And Risk Manageme40
Derivatives And Risk Management (Energy Commodity Derivatives) (Details) frequency in Thousands, Volt in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016Voltfrequency | Dec. 31, 2015Voltfrequency | |
Sales [Member] | Physical [Member] | Electric Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2,016 | 95 | 280 |
2,017 | 333 | 255 |
2,018 | 286 | 286 |
2,019 | 158 | 158 |
2,020 | 0 | 0 |
Thereafter | 0 | 0 |
Sales [Member] | Physical [Member] | Gas Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2016 | Volt | 2,058 | 3,182 |
2017 | Volt | 1,360 | 1,360 |
2018 | Volt | 1,360 | 1,360 |
2,019 | 1,345 | 1,345 |
2,020 | 1,430 | 1,430 |
Thereafter | Volt | 1,060 | 1,060 |
Sales [Member] | Financial [Member] | Electric Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2,016 | 1,009 | 2,656 |
2,017 | 1,205 | 483 |
2,018 | 438 | 0 |
2,019 | 0 | 0 |
2,020 | 0 | 0 |
Thereafter | 0 | 0 |
Sales [Member] | Financial [Member] | Gas Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2016 | Volt | 35,170 | 112,233 |
2017 | Volt | 56,938 | 26,965 |
2018 | Volt | 11,978 | 2,738 |
2019 | Volt | 1,125 | 0 |
2,020 | 0 | 0 |
Thereafter | Volt | 0 | 0 |
Purchase [Member] | Physical [Member] | Electric Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2,016 | 170 | 407 |
2,017 | 403 | 397 |
2,018 | 397 | 397 |
2,019 | 235 | 235 |
2,020 | 0 | 0 |
Thereafter | 0 | 0 |
Purchase [Member] | Physical [Member] | Gas Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2016 | Volt | 9,094 | 17,252 |
2017 | Volt | 5,765 | 675 |
2018 | Volt | 0 | 0 |
2019 | Volt | 610 | 305 |
2020 | Volt | 910 | 455 |
Thereafter | Volt | 0 | 0 |
Purchase [Member] | Financial [Member] | Electric Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2,016 | 701 | 1,954 |
2,017 | 302 | 97 |
2,018 | 0 | 0 |
2,019 | 0 | 0 |
2,020 | 0 | 0 |
Thereafter | 0 | 0 |
Purchase [Member] | Financial [Member] | Gas Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2016 | Volt | 46,475 | 142,693 |
2017 | Volt | 98,893 | 49,200 |
2018 | Volt | 35,628 | 15,118 |
2019 | Volt | 11,980 | 6,935 |
2020 | Volt | 2,725 | 905 |
Thereafter | Volt | 0 | 0 |
Derivatives And Risk Manageme41
Derivatives And Risk Management Derivatives and Risk Management (Foreign Currency Exchange Contracts) (Details) CAD in Thousands, $ in Thousands | 9 Months Ended | |||
Sep. 30, 2016CADderivative_contracts | Sep. 30, 2016USD ($)derivative_contracts | Dec. 31, 2015CADderivative_contracts | Dec. 31, 2015USD ($)derivative_contracts | |
Foreign Currency Fair Value Hedge Derivative [Line Items] | ||||
Number Of Days Canadian Currency Prices Are Settled With U.S. Dollars | 60 days | |||
Number of Foreign Currency Derivatives Held | derivative_contracts | 22 | 22 | 24 | 24 |
United States of America, Dollars | Foreign Exchange Contract [Member] | ||||
Foreign Currency Fair Value Hedge Derivative [Line Items] | ||||
Derivative, Notional Amount | $ | $ 8,572 | $ 1,463 | ||
Canada, Dollars | Foreign Exchange Contract [Member] | ||||
Foreign Currency Fair Value Hedge Derivative [Line Items] | ||||
Derivative, Notional Amount | CAD | CAD 11,222 | CAD 2,002 |
Derivatives And Risk Manageme42
Derivatives And Risk Management (Interest Rate Swap Agreements) (Details) - Interest Rate Swap [Member] $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2016USD ($)Caontracts | Dec. 31, 2015USD ($)Caontracts | Aug. 31, 2016USD ($)Caontracts | |
2016 [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Number of contracts | Caontracts | 6 | 6 | |
Derivative, Notional Amount | $ | $ 115,000 | $ 115,000 | |
Derivative, Maturity Date | Dec. 31, 2016 | ||
2017 [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Number of contracts | Caontracts | 5 | 3 | |
Derivative, Notional Amount | $ | $ 65,000 | $ 45,000 | |
Derivative, Maturity Date | Dec. 31, 2017 | Dec. 31, 2017 | |
2018 [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Number of contracts | Caontracts | 14 | 11 | |
Derivative, Notional Amount | $ | $ 275,000 | $ 245,000 | |
Derivative, Maturity Date | Dec. 31, 2018 | Dec. 31, 2018 | |
2019 [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Number of contracts | Caontracts | 5 | 2 | |
Derivative, Notional Amount | $ | $ 60,000 | $ 30,000 | |
Derivative, Maturity Date | Dec. 31, 2019 | Dec. 31, 2019 | |
2020 [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Number of contracts | Caontracts | 1 | ||
Derivative, Notional Amount | $ | $ 10,000 | ||
Derivative, Maturity Date | Dec. 31, 2020 | ||
2022 [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Number of contracts | Caontracts | 5 | 1 | |
Derivative, Notional Amount | $ | $ 60,000 | $ 20,000 | |
Derivative, Maturity Date | Dec. 31, 2022 | Dec. 31, 2022 |
Derivatives And Risk Manageme43
Derivatives And Risk Management (Derivative Instruments Summary) (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Derivatives, Fair Value [Line Items] | ||
Gross Asset | $ 34,027,000 | $ 76,865,000 |
Gross Liability | (233,681,000) | (210,512,000) |
Collateral Netted | 82,322,000 | 48,556,000 |
Net Asset (Liability) on Balance Sheet | (117,332,000) | (85,091,000) |
Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Collateral Netted | 64,360,000 | 34,030,000 |
Commodity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Collateral Netted | 17,962,000 | 14,526,000 |
Other Current Assets [Member] | Foreign Exchange Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 27,000 | |
Gross Liability | (25,000) | |
Collateral Netted | 0 | |
Net Asset (Liability) on Balance Sheet | 2,000 | |
Other Current Assets [Member] | Commodity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 823,000 | 1,236,000 |
Gross Liability | (103,000) | (553,000) |
Collateral Netted | 0 | 0 |
Net Asset (Liability) on Balance Sheet | 720,000 | 683,000 |
Other Current Liabilities [Member] | Foreign Exchange Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 2,000 | |
Gross Liability | (19,000) | |
Collateral Netted | 0 | |
Net Asset (Liability) on Balance Sheet | (17,000) | |
Other Current Liabilities [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 0 | 118,000 |
Gross Liability | (9,033,000) | (23,262,000) |
Collateral Netted | 8,692,000 | 3,880,000 |
Net Asset (Liability) on Balance Sheet | (341,000) | (19,264,000) |
Non-Current Interest Rate Swap Derivative Liabilities [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 386,000 | 1,407,000 |
Gross Liability | (145,737,000) | (62,236,000) |
Collateral Netted | 55,668,000 | 30,150,000 |
Net Asset (Liability) on Balance Sheet | (89,683,000) | (30,679,000) |
Other Property And Investments Net and Other Non-current Assets[Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 23,000 | |
Gross Liability | 0 | |
Collateral Netted | 0 | |
Net Asset (Liability) on Balance Sheet | 23,000 | |
Current Utility Energy Commodity Derivative Liabilities [Member] | Commodity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 27,159,000 | 67,466,000 |
Gross Liability | (45,815,000) | (85,409,000) |
Collateral Netted | 10,048,000 | 3,675,000 |
Net Asset (Liability) on Balance Sheet | (8,608,000) | (14,268,000) |
Other Noncurrent Liabilities [Member] | Commodity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 5,632,000 | 6,613,000 |
Gross Liability | (32,968,000) | (39,033,000) |
Collateral Netted | 7,914,000 | 10,851,000 |
Net Asset (Liability) on Balance Sheet | $ (19,422,000) | $ (21,569,000) |
Derivatives And Risk Manageme44
Derivatives And Risk Management Derivatives and Risk Management (Collateral) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative [Line Items] | ||
Derivative, Fair Value, Amount Offset Against Collateral, Net | $ 82,322 | $ 48,556 |
Commodity Contracts [Member] | ||
Derivative [Line Items] | ||
Liability position at aggregate fair value | 2,213 | 7,090 |
Additional Collateral, Aggregate Fair Value | 1,966 | 6,980 |
Letters of credit outstanding | 27,800 | 28,200 |
Derivative, Fair Value, Amount Offset Against Collateral, Net | 17,962 | 14,526 |
Collateral Already Posted, Aggregate Fair Value | 18,140 | 28,716 |
Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Letters of credit outstanding | 0 | 0 |
Collateral Already Posted, Aggregate Fair Value | $ 0 | $ 0 |
Pension Plans And Other Postr45
Pension Plans And Other Postretirement Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Pension Contributions | $ 12,000 | $ 12,000 | $ 12,000 |
Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Estimated Pension Contributions in Next Fiscal Year | $ 12,000 |
Pension Plans And Other Postr46
Pension Plans And Other Postretirement Benefit Plans (Components Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Pension Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 4,567 | $ 4,984 | $ 13,655 | $ 14,917 |
Interest cost | 6,895 | 6,531 | 20,695 | 19,734 |
Expected return on plan assets | (6,887) | (7,075) | (20,512) | (21,566) |
Amortization of prior service cost | 1 | 6 | 1 | 18 |
Net loss recognition | 2,161 | 2,397 | 6,252 | 7,425 |
Net periodic benefit cost | 6,737 | 6,843 | 20,091 | 20,528 |
Other Post-Retirement Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 806 | 721 | 2,389 | 2,141 |
Interest cost | 1,530 | 1,292 | 4,623 | 3,915 |
Expected return on plan assets | (465) | (500) | (1,415) | (1,431) |
Amortization of prior service cost | (300) | (287) | (924) | (853) |
Net loss recognition | 1,453 | 1,324 | 4,312 | 3,879 |
Net periodic benefit cost | $ 3,024 | $ 2,550 | $ 8,985 | $ 7,651 |
Committed Lines of Credit (Deta
Committed Lines of Credit (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Jul. 01, 2014 | Apr. 30, 2014 |
Short-term Debt [Line Items] | ||||
Line of Credit, Current | $ 84,000 | $ 105,000 | ||
Avista Utilities [Member] | ||||
Short-term Debt [Line Items] | ||||
Line of Credit, Balance Outstanding | 187,000 | |||
Line of Credit, Current | 105,000 | |||
Line of Credit, Noncurrent | 103,000 | 0 | ||
Letters of credit outstanding at end of period | $ 73,195 | $ 44,595 | ||
Average interest rate at end of period | 1.26% | 1.18% | ||
Alaska Electric Light & Power [Member] | ||||
Short-term Debt [Line Items] | ||||
Line of Credit, Current | $ 0 | $ 0 | ||
Letters of credit outstanding at end of period | $ 0 | $ 0 | ||
Line of Credit [Member] | Avista Utilities [Member] | ||||
Short-term Debt [Line Items] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 400,000 | |||
Line of Credit [Member] | Alaska Electric Light & Power [Member] | ||||
Short-term Debt [Line Items] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,000 |
Long-Term Debt and Capital Le48
Long-Term Debt and Capital Leases Long-Term Debt and Capital Leases (Details) $ in Thousands | Aug. 31, 2016USD ($)Caontracts | Sep. 30, 2016USD ($) | Dec. 31, 2015USD ($)Caontracts |
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.72% | 1.29% | |
Long-term Pollution Control Bond, Noncurrent | $ (83,700) | $ (83,700) | |
Long-term Debt, Gross | 1,536,700 | 1,626,700 | |
Capital Lease Obligations | 66,226 | 68,601 | |
Settled Interest Rate Swaps | 0 | (26,515) | |
Debt Instrument, Unamortized Discount | (833) | (956) | |
Unamortized Debt Issuance Expense | (9,879) | (10,852) | |
Long-Term Debt, Before Current Portion And Bonds Held by Company | 1,765,214 | 1,656,978 | |
Long-term Debt and Capital Lease Obligations, Current | (3,257) | (93,167) | |
Long-term Debt and Capital Lease Obligations | $ 1,678,257 | $ 1,480,111 | |
Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.29% | 1.11% | |
Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.72% | 1.29% | |
Unsecured Debt [Member] | 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Unsecured Debt | $ 0 | ||
Alaska Energy Resources Company [Member] | Unsecured Debt [Member] | 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,019 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.85% | ||
Unsecured Debt | $ 15,000 | 15,000 | |
Avista Utilities [Member] | |||
Debt Instrument [Line Items] | |||
Secured Debt | 1,446,700 | 1,536,700 | |
Line of Credit, Noncurrent | $ 103,000 | 0 | |
Avista Utilities [Member] | First Mortgage [Member] | 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,016 | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.84% | ||
Secured Debt | $ 0 | 90,000 | |
Avista Utilities [Member] | First Mortgage [Member] | 2018 5.95% [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,018 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.95% | ||
Secured Debt | $ 250,000 | 250,000 | |
Avista Utilities [Member] | First Mortgage [Member] | 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,019 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.45% | ||
Secured Debt | $ 90,000 | 90,000 | |
Avista Utilities [Member] | First Mortgage [Member] | 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,020 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.89% | ||
Secured Debt | $ 52,000 | 52,000 | |
Avista Utilities [Member] | First Mortgage [Member] | 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,022 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.13% | ||
Secured Debt | $ 250,000 | 250,000 | |
Avista Utilities [Member] | First Mortgage [Member] | 2035 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,035 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.25% | ||
Secured Debt | $ 150,000 | 150,000 | |
Avista Utilities [Member] | First Mortgage [Member] | 2037 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,037 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.70% | ||
Secured Debt | $ 150,000 | 150,000 | |
Avista Utilities [Member] | First Mortgage [Member] | 2040 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,040 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.55% | ||
Secured Debt | $ 35,000 | 35,000 | |
Avista Utilities [Member] | First Mortgage [Member] | 2041 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,041 | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.45% | ||
Secured Debt | $ 85,000 | 85,000 | |
Avista Utilities [Member] | First Mortgage [Member] | 2044 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,044 | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.11% | ||
Secured Debt | $ 60,000 | 60,000 | |
Avista Utilities [Member] | First Mortgage [Member] | 2045 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,045 | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.37% | ||
Secured Debt | $ 100,000 | 100,000 | |
Avista Utilities [Member] | First Mortgage [Member] | 2047 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,047 | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.23% | ||
Secured Debt | $ 80,000 | 80,000 | |
Avista Utilities [Member] | First Mortgage [Member] | 2051 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 12/1/2051 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.54% | ||
Secured Debt | $ 175,000 | ||
Avista Utilities [Member] | Secured Debt [Member] | 2018 7.39% to 7.45%[Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,018 | ||
Medium-term Notes, Noncurrent | $ 22,500 | 22,500 | |
Avista Utilities [Member] | Secured Debt [Member] | 2018 7.39% to 7.45%[Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.39% | ||
Avista Utilities [Member] | Secured Debt [Member] | 2018 7.39% to 7.45%[Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.45% | ||
Avista Utilities [Member] | Secured Debt [Member] | 2023 7.18% to 7.54% [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,023 | ||
Medium-term Notes, Noncurrent | $ 13,500 | 13,500 | |
Avista Utilities [Member] | Secured Debt [Member] | 2023 7.18% to 7.54% [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.18% | ||
Avista Utilities [Member] | Secured Debt [Member] | 2023 7.18% to 7.54% [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.54% | ||
Avista Utilities [Member] | Secured Debt [Member] | 2028 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,028 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.37% | ||
Medium-term Notes, Noncurrent | $ 25,000 | 25,000 | |
Avista Utilities [Member] | Secured Debt [Member] | 2032 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,032 | ||
Long-term Pollution Control Bond, Noncurrent | $ 66,700 | 66,700 | |
Avista Utilities [Member] | Secured Debt [Member] | 2034 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,034 | ||
Long-term Pollution Control Bond, Noncurrent | $ 17,000 | 17,000 | |
Avista Utilities [Member] | Unsecured Debt [Member] | 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Unsecured Debt | $ 70,000 | ||
Alaska Electric Light & Power [Member] | First Mortgage [Member] | 2044 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Maturity Date, Description | 2,044 | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.54% | ||
Secured Debt | $ 75,000 | $ 75,000 | |
Interest Rate Swap [Member] | 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Number of Interest Rate Derivatives Held | Caontracts | 6 | 6 | |
Derivative, Notional Amount | $ 115,000 | $ 115,000 | |
Regulatory Asset For Interest Rate Swaps [Member] | |||
Debt Instrument [Line Items] | |||
Reclassification Adjustment from Long-Term Debt to Regulatory Assets | 92,800 | 0 | |
Regulatory Liability for Interest Rate Swaps [Member] | |||
Debt Instrument [Line Items] | |||
Reclassification Adjustment from Long-Term Debt to Regulatory Liabilities | $ 12,800 | $ 0 |
Long- Term Debt to Affiliated49
Long- Term Debt to Affiliated Trust Long-Term Debt to Affiliated Trust (Schedule of Distribution Rates Paid) (Details) | Sep. 30, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
Interest Rate at End of Period | 1.72% | 1.29% |
Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate at End of Period | 1.29% | 1.11% |
Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate at End of Period | 1.72% | 1.29% |
Long- Term Debt to Affiliated50
Long- Term Debt to Affiliated Trust Long-Term Debt to Affiliated Trust (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2000 | Dec. 31, 1997 | |
Debt Instrument [Line Items] | |||
Payments for Repurchase of Trust Preferred Securities | $ 10 | ||
Equity Method Investment, Ownership Percentage | 100.00% | ||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | $ 51.5 | $ 51.5 | |
Trust Preferred Securities Subject to Mandatory Redemption [Member] | |||
Debt Instrument [Line Items] | |||
Proceeds from Issuance of Trust Preferred Securities | 50 | ||
Debt Instrument, Description of Variable Rate Basis | LIBOR | ||
Debt Instrument, Basis Spread on Variable Rate | 0.875% | ||
Common Trust Securities [Member] | |||
Debt Instrument [Line Items] | |||
Proceeds from Issuance of Trust Preferred Securities | $ 1.5 |
Fair Value (Carrying Value And
Fair Value (Carrying Value And Estimated Fair Value Of Financial Instruments) (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Capital Lease Obligations | $ 66,226 | $ 68,601 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | 951,000 | 951,000 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | 1,100,059 | 1,055,797 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | 502,000 | 592,000 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | $ 572,112 | 595,018 |
Secured and Unsecured Debt [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value Inputs, Offered Quotes | $ 100 | |
Alaska Electric Light & Power [Member] | Capital Lease Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Capital Lease Obligations | $ 62,734 | 64,455 |
Alaska Electric Light & Power [Member] | Capital Lease Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Capital Lease Obligations | 64,800 | 63,150 |
Affiliated Entity [Member] | Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | 51,547 | 51,547 |
Affiliated Entity [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | $ 38,145 | $ 36,083 |
Minimum [Member] | Secured and Unsecured Debt [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value Inputs, Offered Quotes | $ 74 | |
Maximum [Member] | Secured and Unsecured Debt [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value Inputs, Offered Quotes | $ 133.96 |
Fair Value (Fair Value Of Asset
Fair Value (Fair Value Of Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Gross Asset | $ 34,027 | $ 76,865 | ||
Liability | 233,681 | 210,512 | ||
Cash and cash equivalents | 7,084 | 10,484 | $ 9,314 | $ 22,143 |
Fixed Income Securities [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 500 | 600 | ||
Fair Value, Measurements, Recurring [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Counterparty and collateral netting, assets | (33,305) | (74,634) | ||
Interest rate swaps | 0 | 1,548 | ||
Total | 8,244 | 9,719 | ||
Counterparty and collateral netting, liabilities | (115,627) | (89,160) | ||
Interest rate swaps | 90,024 | 85,498 | ||
Total | 118,054 | 121,352 | ||
Fair Value, Measurements, Recurring [Member] | Natural Gas Exchange Agreements [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Counterparty and collateral netting, assets | (25) | (678) | ||
Derivative Asset | 0 | 0 | ||
Counterparty and collateral netting, liabilities | (25) | (678) | ||
Derivative Liability | 6,521 | 5,039 | ||
Fair Value, Measurements, Recurring [Member] | Power Exchange Agreements [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Counterparty and collateral netting, liabilities | 0 | 0 | ||
Derivative Liability | 16,310 | 21,961 | ||
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Counterparty and collateral netting, assets | (386) | 0 | ||
Counterparty and collateral netting, liabilities | (64,746) | 0 | ||
Fair Value, Measurements, Recurring [Member] | Energy commodity derivatives [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Counterparty and collateral netting, assets | (32,869) | (73,954) | ||
Derivative Asset | 720 | 683 | ||
Counterparty and collateral netting, liabilities | (50,831) | (88,480) | ||
Derivative Liability | 4,402 | 8,713 | ||
Fair Value, Measurements, Recurring [Member] | Power Option Agreement [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Counterparty and collateral netting, liabilities | 0 | 0 | ||
Derivative Liability | 797 | 124 | ||
Fair Value, Measurements, Recurring [Member] | Foreign Exchange Contract [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Counterparty and collateral netting, assets | (25) | (2) | ||
Derivative Asset | 2 | 0 | ||
Counterparty and collateral netting, liabilities | (25) | (2) | ||
Derivative Liability | 0 | 17 | ||
Fair Value, Measurements, Recurring [Member] | Fixed Income Securities [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Deferred compensation assets: | 1,895 | 1,727 | ||
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Deferred compensation assets: | 5,627 | 5,761 | ||
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Total | 7,522 | 7,488 | ||
Total | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Fixed Income Securities [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Deferred compensation assets: | 1,895 | 1,727 | ||
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Equity Securities [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Deferred compensation assets: | 5,627 | 5,761 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Interest rate swaps | 386 | 1,548 | ||
Total | 34,002 | 76,187 | ||
Interest rate swaps | 154,770 | 85,498 | ||
Total | 210,028 | 182,710 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Energy commodity derivatives [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Gross Asset | 33,589 | 74,637 | ||
Liability | 55,233 | 97,193 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Exchange Contract [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Gross Asset | 27 | 2 | ||
Liability | 25 | 19 | ||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Total | 25 | 678 | ||
Total | 23,653 | 27,802 | ||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Natural Gas Exchange Agreements [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Gross Asset | 25 | 678 | ||
Liability | 6,546 | 5,717 | ||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Power Exchange Agreements [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Liability | 16,310 | 21,961 | ||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Power Option Agreement [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Liability | $ 797 | $ 124 |
Fair Value (Quantitative Inform
Fair Value (Quantitative Information) (Details) $ / shares in Units, $ in Thousands | 9 Months Ended | |
Sep. 30, 2016USD ($)$ / MWHMMBTUMWh$ / shares$ / MmBtu | Dec. 31, 2015USD ($) | |
Power Option Agreement [Member] | Black Scholes Merton [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Assumptions, Expected Volatility Rate | 21.00% | |
Minimum [Member] | Power Exchange Agreements [Member] | Surrogate Facility Pricing [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Operation and Maintenance Charges | 33.59 | |
Transaction/Delivery Volumes | MWh | 396,984 | |
Minimum [Member] | Power Option Agreement [Member] | Black Scholes Merton [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Transaction/Delivery Volumes | MWh | 157,517 | |
Maximum [Member] | Power Exchange Agreements [Member] | Surrogate Facility Pricing [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Operation and Maintenance Charges | 49.15 | |
Transaction/Delivery Volumes | MWh | 406,909 | |
Maximum [Member] | Power Option Agreement [Member] | Black Scholes Merton [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Transaction/Delivery Volumes | MWh | 285,979 | |
Average [Member] | Power Exchange Agreements [Member] | Surrogate Facility Pricing [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Operation and Maintenance Charges | 39.22 | |
Fair Value, Measurements, Recurring [Member] | Power Exchange Agreements [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative Liability | $ | $ (16,310) | $ (21,961) |
Fair Value, Measurements, Recurring [Member] | Power Option Agreement [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative Liability | $ | (797) | (124) |
Fair Value, Measurements, Recurring [Member] | Natural Gas Exchange Agreements [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative Liability | $ | $ (6,521) | $ (5,039) |
WASHINGTON | Average [Member] | Power Exchange Agreements [Member] | Surrogate Facility Pricing [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Operation and Maintenance Charges | 44.33 | |
IDAHO | Average [Member] | Power Exchange Agreements [Member] | Surrogate Facility Pricing [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Operation and Maintenance Charges | 39.22 | |
Sales [Member] | Minimum [Member] | Natural Gas Exchange Agreements [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative, Forward Price | $ / MmBtu | 2.03 | |
Transaction/Delivery Volumes | MMBTU | 60,000 | |
Sales [Member] | Maximum [Member] | Natural Gas Exchange Agreements [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative, Forward Price | $ / MmBtu | 3.37 | |
Transaction/Delivery Volumes | MMBTU | 310,000 | |
Purchase [Member] | Minimum [Member] | Natural Gas Exchange Agreements [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative, Forward Price | $ / MmBtu | 1.95 | |
Transaction/Delivery Volumes | MMBTU | 115,000 | |
Purchase [Member] | Maximum [Member] | Natural Gas Exchange Agreements [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative, Forward Price | $ / MmBtu | 2.55 | |
Transaction/Delivery Volumes | MMBTU | 310,000 | |
2017 [Member] | Power Option Agreement [Member] | Black Scholes Merton [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Assumptions, Exercise Price | $ / shares | $ 49.71 | |
2017 to 2019 [Member] | Power Exchange Agreements [Member] | Surrogate Facility Pricing [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Escalation Factor | 3.00% | |
2016 [Member] | Power Option Agreement [Member] | Black Scholes Merton [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Assumptions, Expected Volatility Rate | 42.00% | |
2018 [Member] | Power Option Agreement [Member] | Black Scholes Merton [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Assumptions, Expected Volatility Rate | 24.00% | |
Fair Value Assumptions, Exercise Price | $ / shares | $ 37.46 |
Fair Value (Reconciliation For
Fair Value (Reconciliation For All Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs (Level 3)) (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Fair Value Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | $ (21,576) | $ (25,586) | $ (27,124) | $ (23,758) |
Included in regulatory assets/liabilities | (2,052) | (2,735) | (3,361) | (9,672) |
Settlements | 0 | 282 | 6,857 | 5,391 |
Ending Balance | (23,628) | (28,039) | (23,628) | (28,039) |
Natural Gas Exchange Agreements [Member] | ||||
Fair Value Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | (6,857) | (6,825) | (5,039) | (35) |
Included in regulatory assets/liabilities | 336 | 1,800 | (2,960) | (5,586) |
Settlements | 0 | 282 | 1,478 | 878 |
Ending Balance | (6,521) | (4,743) | (6,521) | (4,743) |
Power Option Agreement [Member] | ||||
Fair Value Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | (105) | (145) | (124) | (424) |
Included in regulatory assets/liabilities | (692) | 28 | (673) | 307 |
Settlements | 0 | 0 | 0 | 0 |
Ending Balance | (797) | (117) | (797) | (117) |
Power Exchange Agreements [Member] | ||||
Fair Value Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | (14,614) | (18,616) | (21,961) | (23,299) |
Included in regulatory assets/liabilities | (1,696) | (4,563) | 272 | (4,393) |
Settlements | 0 | 0 | 5,379 | 4,513 |
Ending Balance | $ (16,310) | $ (23,179) | $ (16,310) | $ (23,179) |
Common Stock Common Stock (Deta
Common Stock Common Stock (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Class of Stock [Line Items] | ||
Shares Issued During Period, Value, Share-based Compensation | $ 1.2 | |
Sales Agency Agreements Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Document Period End Date | Sep. 30, 2016 | |
Shares Issued During Period, Share-based Compensation | 300,000 | |
Sales Agency Agreement [Member] | ||
Class of Stock [Line Items] | ||
Shares issued | 1,600,000 | |
Sales Agency Agreements Common Stock, Shares Authorized | 3,800,000 | |
Sales Agency Agreements Common Stock, Value, Issued | $ 65.6 | |
Common Stock Shares Authorized Under Sales Agency Agreements Remaining Shares Authorized To Sell | 2,200,000 |
Earnings Per Share Attributable
Earnings Per Share Attributable To Avista Corporation (Computation Of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Numerator: | ||||
Net income from continuing operations attributable to Avista Corp. shareholders | $ 12,234 | $ 12,722 | $ 97,137 | $ 84,221 |
Net income from discontinued operations attributable to Avista Corp. shareholders | $ 0 | $ 289 | $ 0 | $ 485 |
Denominator: | ||||
Weighted-average number of common shares outstanding-basic | 63,857 | 62,299 | 63,282 | 62,299 |
Performance and restricted stock awards | 468 | 389 | 405 | 392 |
Weighted-average number of common shares outstanding-diluted | 64,325 | 62,688 | 63,687 | 62,691 |
Earnings Per Share, Basic [Abstract] | ||||
Earnings per common share from continuing operations | $ 0.19 | $ 0.21 | $ 1.53 | $ 1.35 |
Earnings per common share from discontinued operations | 0 | 0 | 0 | 0.01 |
Basic | 0.19 | 0.21 | 1.53 | 1.36 |
Earnings Per Share, Diluted [Abstract] | ||||
Earnings per common share from continuing operations | 0.19 | 0.21 | 1.53 | 1.34 |
Earnings per common share from discontinued operations | 0 | 0 | 0 | 0.01 |
Diluted (usd per share) | $ 0.19 | $ 0.21 | $ 1.53 | $ 1.35 |
Commitments And Contingencies (
Commitments And Contingencies (Details) $ in Millions | Sep. 30, 2016USD ($) |
Maximum [Member] | Market Manipulation Lawsuit [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency, Estimated Potential Loss | $ 16 |
Information By Business Segme58
Information By Business Segments (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($)Reportable_Segments | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of Reportable Segments | Reportable_Segments | 2 | ||||
Operating revenues | $ 303,349 | $ 313,649 | $ 1,040,360 | $ 1,097,471 | |
Resource costs | 118,737 | 138,210 | 390,271 | 488,886 | |
Other operating expenses | 81,916 | 80,777 | 248,467 | 243,523 | |
Depreciation and amortization | 40,433 | 36,481 | 119,683 | 106,791 | |
Income from operations | 39,594 | 35,912 | 207,270 | 182,847 | |
Interest expense | 21,796 | 20,071 | 64,679 | 60,066 | |
Income taxes | 7,606 | 6,115 | 54,661 | 47,378 | |
Net income from continuing operations attributable to Avista Corp. shareholders | 12,234 | 12,722 | 97,137 | 84,221 | |
Payments to Acquire Other Property, Plant, and Equipment | 105,362 | 95,397 | 288,342 | 273,653 | |
Total assets | 5,215,106 | 5,215,106 | $ 4,906,649 | ||
Intersegment Eliminations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 0 | 0 | 0 | (550) | |
Resource costs | 0 | 0 | 0 | 0 | |
Other operating expenses | 0 | 0 | 0 | (550) | |
Depreciation and amortization | 0 | 0 | 0 | 0 | |
Income from operations | 0 | 0 | 0 | 0 | |
Interest expense | (19) | (29) | (116) | (81) | |
Income taxes | 0 | 0 | 0 | 0 | |
Net income from continuing operations attributable to Avista Corp. shareholders | 0 | 0 | 0 | 0 | |
Payments to Acquire Other Property, Plant, and Equipment | 0 | 0 | 0 | 0 | |
Total assets | 0 | 0 | 0 | ||
Operating Segments [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 296,989 | 307,405 | 1,022,670 | 1,075,192 | |
Resource costs | 118,737 | 138,210 | 390,271 | 488,886 | |
Other operating expenses | 75,160 | 74,315 | 229,605 | 220,599 | |
Depreciation and amortization | 40,240 | 36,303 | 119,110 | 106,279 | |
Income from operations | 40,183 | 36,308 | 209,015 | 184,004 | |
Interest expense | 21,666 | 19,950 | 64,336 | 59,686 | |
Income taxes | 8,322 | 6,209 | 55,914 | 48,004 | |
Net income from continuing operations attributable to Avista Corp. shareholders | 13,539 | 12,919 | 99,316 | 85,340 | |
Payments to Acquire Other Property, Plant, and Equipment | 105,257 | 95,049 | 288,072 | 272,801 | |
Total assets | 5,159,679 | 5,159,679 | 4,867,443 | ||
Operating Segments [Member] | Avista Utilities [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 287,193 | 298,132 | 989,981 | 1,042,913 | |
Resource costs | 115,228 | 135,048 | 380,913 | 479,604 | |
Other operating expenses | 72,318 | 71,536 | 221,364 | 212,293 | |
Depreciation and amortization | 38,909 | 34,986 | 115,126 | 102,334 | |
Income from operations | 38,554 | 34,800 | 199,661 | 175,003 | |
Interest expense | 20,772 | 19,054 | 61,652 | 56,991 | |
Income taxes | 7,983 | 5,980 | 53,004 | 45,500 | |
Net income from continuing operations attributable to Avista Corp. shareholders | 12,673 | 12,525 | 94,431 | 81,387 | |
Payments to Acquire Other Property, Plant, and Equipment | 101,558 | 92,271 | 274,041 | 264,283 | |
Total assets | 4,889,256 | 4,889,256 | 4,601,708 | ||
Operating Segments [Member] | Alaska Electric Light & Power [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 9,796 | 9,273 | 32,689 | 32,279 | |
Resource costs | 3,509 | 3,162 | 9,358 | 9,282 | |
Other operating expenses | 2,842 | 2,779 | 8,241 | 8,306 | |
Depreciation and amortization | 1,331 | 1,317 | 3,984 | 3,945 | |
Income from operations | 1,629 | 1,508 | 9,354 | 9,001 | |
Interest expense | 894 | 896 | 2,684 | 2,695 | |
Income taxes | 339 | 229 | 2,910 | 2,504 | |
Net income from continuing operations attributable to Avista Corp. shareholders | 866 | 394 | 4,885 | 3,953 | |
Payments to Acquire Other Property, Plant, and Equipment | 3,699 | 2,778 | 14,031 | 8,518 | |
Total assets | 270,423 | 270,423 | 265,735 | ||
Operating Segments [Member] | Corporate and Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 6,360 | 6,244 | 17,690 | 22,829 | |
Resource costs | 0 | 0 | 0 | 0 | |
Other operating expenses | 6,756 | 6,462 | 18,862 | 23,474 | |
Depreciation and amortization | 193 | 178 | 573 | 512 | |
Income from operations | (589) | (396) | (1,745) | (1,157) | |
Interest expense | 149 | 150 | 459 | 461 | |
Income taxes | (716) | (94) | (1,253) | (626) | |
Net income from continuing operations attributable to Avista Corp. shareholders | (1,305) | (197) | (2,179) | (1,119) | |
Payments to Acquire Other Property, Plant, and Equipment | 105 | $ 348 | 270 | $ 852 | |
Total assets | $ 55,427 | $ 55,427 | $ 39,206 |