Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 01, 2019 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | AVISTA CORPORATION | |
Amendment Flag | false | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Title of 12(b) Security | Common Stock | |
Entity Information, Former Legal or Registered Name | None | |
City Area Code | 509 | |
Entity Incorporation, State or Country Code | WA | |
Document Transition Report | false | |
Document Quarterly Report | true | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Entity File Number | 1-3701 | |
Entity Tax Identification Number | 91-0462470 | |
Entity Address, Address Line One | 1411 East Mission Avenue | |
Entity Address, City or Town | Spokane | |
Entity Address, State or Province | WA | |
Entity Address, Postal Zip Code | 99202-2600 | |
Local Phone Number | 489-0500 | |
Trading Symbol | AVA | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Entity Central Index Key | 0000104918 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 66,709,945 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Operating Revenues: | ||||
Utility revenues, exclusive of alternative revenue programs | $ 276,683 | $ 288,513 | $ 958,750 | $ 1,006,003 |
Alternative revenue programs | 6,038 | 606 | 11,105 | (1,763) |
Total utility revenues | 282,721 | 289,119 | 969,855 | 1,004,240 |
Non-utility revenues | 1,049 | 6,894 | 11,208 | 20,432 |
Total operating revenues | 283,770 | 296,013 | 981,063 | 1,024,672 |
Utility operating expenses: | ||||
Resource costs | 98,324 | 101,519 | 324,110 | 362,106 |
Other operating expenses | 80,112 | 78,395 | 251,810 | 236,771 |
Merger transaction costs | 0 | 965 | 19,675 | 2,620 |
Depreciation and amortization | 50,052 | 46,035 | 154,445 | 136,419 |
Taxes other than income taxes | 23,455 | 25,101 | 78,306 | 81,526 |
Other non-utility operating expenses: | ||||
Other operating expenses | 1,450 | 7,347 | 15,137 | 20,714 |
Depreciation and amortization | 134 | 207 | 498 | 587 |
Total operating expenses | 253,527 | 259,569 | 843,981 | 840,743 |
Income from operations | 30,243 | 36,444 | 137,082 | 183,929 |
Interest expense | 25,859 | 24,280 | 77,021 | 74,226 |
Interest Expense, Other | 334 | 325 | 1,042 | 880 |
Capitalized interest | (1,089) | (1,217) | (3,118) | (3,324) |
Merger termination fee | 0 | 0 | (103,000) | 0 |
Other income-net | 180 | 1,379 | (8,995) | 3,951 |
Income before income taxes | 4,959 | 11,677 | 174,132 | 108,196 |
Income tax expense (benefit) | (131) | 1,548 | 28,145 | 17,467 |
Net income | 5,090 | 10,129 | 145,987 | 90,729 |
Net income attributable to noncontrolling interests | 0 | (10) | 216 | (143) |
Net income attributable to Avista Corporation shareholders | $ 5,090 | $ 10,119 | $ 146,203 | $ 90,586 |
Weighted-average common shares outstanding (thousands), basic | 66,265 | 65,688 | 65,964 | 65,668 |
Weighted-average common shares outstanding (thousands), diluted | 66,351 | 66,026 | 66,050 | 65,980 |
Earnings per common share attributable to Avista Corporation shareholders: | ||||
Basic | $ 0.08 | $ 0.15 | $ 2.22 | $ 1.38 |
Diluted | $ 0.08 | $ 0.15 | $ 2.21 | $ 1.37 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 5,090 | $ 10,129 | $ 145,987 | $ 90,729 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax | 162 | 204 | 483 | 612 |
Total other comprehensive loss | 162 | 204 | 483 | 612 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 5,252 | 10,333 | 146,470 | 91,341 |
Net income attributable to noncontrolling interests | 0 | (10) | 216 | (143) |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 5,252 | $ 10,323 | $ 146,686 | $ 91,198 |
Consolidated Statements Of Co_2
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax | $ 43 | $ 54 | $ 128 | $ 163 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Current Assets: | ||
Cash and cash equivalents | $ 14,454 | $ 14,656 |
Accounts and notes receivable-less allowances of $2,529 and $5,233, respectively | 108,577 | 165,824 |
Materials and supplies, fuel stock and stored natural gas | 67,732 | 63,881 |
Regulatory assets | 19,890 | 48,552 |
Other current assets | 36,993 | 54,010 |
Total current assets | 247,646 | 346,923 |
Net utility property | 4,727,014 | 4,648,930 |
Goodwill | 52,426 | 57,672 |
Other regulatory assets | 688,814 | 614,354 |
Other property and investments-net | 248,883 | 114,697 |
Total assets | 5,964,783 | 5,782,576 |
Current Liabilities: | ||
Accounts payable | 91,358 | 108,372 |
Current portion of long-term debt and capital leases | 14,996 | 107,645 |
Short-term borrowings | 119,300 | 190,000 |
Regulatory liabilities | 43,442 | 113,209 |
Other current liabilities | 130,089 | 120,358 |
Total current liabilities | 399,185 | 639,584 |
Long-term debt and capital leases | 1,879,366 | 1,755,529 |
Long-term debt to affiliated trusts | 51,547 | 51,547 |
Pensions and other postretirement benefits | 210,292 | 222,537 |
Deferred income taxes | 515,355 | 487,602 |
Non-current regulatory liabilities | 786,131 | 780,701 |
Other non-current liabilities and deferred credits | 229,339 | 71,031 |
Total liabilities | 4,071,215 | 4,008,531 |
Avista Corporation Stockholders’ Equity: | ||
Common stock, no par value; 200,000,000 shares authorized; 65,668,477 and 65,494,333 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively | 1,186,925 | 1,136,491 |
Accumulated other comprehensive loss | (7,383) | (7,866) |
Retained earnings | 714,026 | 644,595 |
Total Avista Corporation shareholders’ equity | 1,893,568 | 1,773,220 |
Noncontrolling Interests | 0 | 825 |
Total equity | 1,893,568 | 1,774,045 |
Total liabilities and equity | $ 5,964,783 | $ 5,782,576 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Accounts and notes receivable, allowances | $ 2,529 | $ 5,233 |
Common stock, par value | $ 0 | $ 0 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares outstanding | 66,708,989 | 65,688,356 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Operating Activities: | ||
Net income | $ 145,987 | $ 90,729 |
Non-cash items included in net income: | ||
Depreciation and amortization | 154,943 | 139,738 |
Provision for deferred income taxes | 10,219 | 10,575 |
Power and natural gas cost amortizations (deferrals), net | (45,835) | 6,315 |
Amortization of debt expense | 2,008 | 2,327 |
Amortization of investment in exchange power | 1,633 | 1,838 |
Stock-based compensation expense | 8,951 | 5,215 |
Equity-related AFUDC | (5,021) | (4,406) |
Pension and other postretirement benefit expense | 27,139 | 23,980 |
Other regulatory assets and liabilities and deferred debits and credits | 1,871 | 20,953 |
Change in decoupling regulatory deferral | (11,540) | 5,436 |
Gain on sale of METALfx (before payment of transaction costs) | (6,477) | 0 |
Other | (5,095) | 3,962 |
Contributions to defined benefit pension plan | (22,000) | (22,000) |
Cash paid for settlement of interest rate swap agreements | (13,325) | (32,174) |
Cash received for settlement of interest rate swap agreements | 0 | 5,594 |
Changes in certain current assets and liabilities: | ||
Accounts and notes receivable (billed and unbilled) | 54,554 | 75,878 |
Materials and supplies, fuel stock and natural gas stored | (7,298) | (4,691) |
Collateral posted for derivative instruments | 64,770 | 47,150 |
Other current assets | (11,423) | (3,871) |
Accounts payable | (8,366) | (16,392) |
Other current liabilities | 4,796 | 9,639 |
Net cash provided by operating activities | 340,491 | 365,795 |
Investing Activities: | ||
Utility property capital expenditures (excluding equity-related AFUDC) | (320,964) | (296,216) |
Issuance of notes receivable by subsidiaries | (6,036) | (2,930) |
Equity and property investments made by subsidiaries | (10,031) | (8,629) |
Proceeds from sale of METALfx (net of cash sold) | 16,407 | 0 |
Other | 309 | 88 |
Net cash used in investing activities | (320,315) | (307,687) |
Financing Activities: | ||
Net increase (decrease) in short-term borrowings | 17,000 | (70,398) |
Proceeds from issuance of long-term debt | 0 | 374,621 |
Maturity of long-term debt and capital leases | (1,995) | (276,804) |
Issuance of common stock | 42,899 | 1,224 |
Cash dividends paid | (76,772) | (73,569) |
Other | (1,510) | (8,184) |
Net cash used in financing activities | (20,378) | (53,110) |
Net increase (decrease) in cash and cash equivalents | (202) | 4,998 |
Cash and cash equivalents at beginning of period | 14,656 | 16,172 |
Cash and cash equivalents at end of period | $ 14,454 | $ 21,170 |
Consolidated Statements Of Equi
Consolidated Statements Of Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Noncontrolling Interests [Member] |
Common Stock, Dividends, Per Share, Cash Paid | $ 1.1175 | ||||
Beginning Balance (in shares) at Dec. 31, 2017 | 65,494,333 | ||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Shares issued | 193,667 | ||||
Ending Balance (in shares) at Sep. 30, 2018 | 65,688,000 | ||||
Beginning Balance at Dec. 31, 2017 | $ 1,133,448 | $ (8,090) | $ 604,470 | ||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Equity compensation expense | 4,800 | ||||
Issuance of common stock, net of issuance costs | 1,224 | ||||
Payment of minimum tax withholdings for share-based payment awards | (3,929) | ||||
Other comprehensive income | $ 612 | 612 | |||
Reclassification of excess income tax benefits | (1,742) | 1,742 | |||
Net income attributable to Avista Corporation shareholders | 90,586 | 90,586 | |||
Cash dividends paid (common stock) | (73,569) | ||||
Ending Balance at Sep. 30, 2018 | $ 1,750,351 | $ 1,135,543 | (9,220) | 623,229 | |
Beginning Balance Noncontrolling Interest at Dec. 31, 2017 | $ 656 | ||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Net income (loss) attributable to noncontrolling interests | 143 | ||||
Cash dividends paid to subsidiary noncontrolling interests | 0 | ||||
Deconsolidation of noncontrolling interests related to sale of METALfx | 0 | ||||
Ending Balance Noncontrolling Interest at Sep. 30, 2018 | 799 | ||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.3725 | ||||
Beginning Balance (in shares) at Jun. 30, 2018 | 65,687,492 | ||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Shares issued | 508 | ||||
Ending Balance (in shares) at Sep. 30, 2018 | 65,688,000 | ||||
Beginning Balance at Jun. 30, 2018 | $ 1,134,304 | (9,424) | 637,578 | ||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Equity compensation expense | 1,242 | ||||
Issuance of common stock, net of issuance costs | (3) | ||||
Payment of minimum tax withholdings for share-based payment awards | 0 | ||||
Other comprehensive income | $ 204 | 204 | |||
Reclassification of excess income tax benefits | 0 | 0 | |||
Net income attributable to Avista Corporation shareholders | 10,119 | 10,119 | |||
Cash dividends paid (common stock) | (24,468) | ||||
Ending Balance at Sep. 30, 2018 | 1,750,351 | $ 1,135,543 | (9,220) | 623,229 | |
Beginning Balance Noncontrolling Interest at Jun. 30, 2018 | 249 | ||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Net income (loss) attributable to noncontrolling interests | 10 | ||||
Cash dividends paid to subsidiary noncontrolling interests | 540 | ||||
Deconsolidation of noncontrolling interests related to sale of METALfx | 0 | ||||
Ending Balance Noncontrolling Interest at Sep. 30, 2018 | 799 | ||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Total Avista Corporation shareholders’ equity | 1,749,552 | ||||
Total Avista Corporation shareholders’ equity | $ 1,773,220 | ||||
Common Stock, Dividends, Per Share, Cash Paid | $ 1.1625 | ||||
Beginning Balance (in shares) at Dec. 31, 2018 | 65,688,356 | 65,688,356 | |||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Shares issued | 1,020,633 | ||||
Ending Balance (in shares) at Sep. 30, 2019 | 66,708,989 | 66,708,989 | |||
Beginning Balance at Dec. 31, 2018 | $ 1,774,045 | $ 1,136,491 | (7,866) | 644,595 | |
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Equity compensation expense | 8,426 | ||||
Issuance of common stock, net of issuance costs | 42,899 | ||||
Payment of minimum tax withholdings for share-based payment awards | (891) | ||||
Other comprehensive income | 483 | 483 | |||
Reclassification of excess income tax benefits | 0 | 0 | |||
Net income attributable to Avista Corporation shareholders | 146,203 | 146,203 | |||
Cash dividends paid (common stock) | (76,772) | ||||
Ending Balance at Sep. 30, 2019 | 1,893,568 | $ 1,186,925 | (7,383) | 714,026 | |
Beginning Balance Noncontrolling Interest at Dec. 31, 2018 | 825 | 825 | |||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Net income (loss) attributable to noncontrolling interests | (216) | ||||
Cash dividends paid to subsidiary noncontrolling interests | 0 | ||||
Deconsolidation of noncontrolling interests related to sale of METALfx | (609) | ||||
Ending Balance Noncontrolling Interest at Sep. 30, 2019 | $ 0 | 0 | |||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.3875 | ||||
Beginning Balance (in shares) at Jun. 30, 2019 | 66,111,317 | ||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Shares issued | 597,672 | ||||
Ending Balance (in shares) at Sep. 30, 2019 | 66,708,989 | 66,708,989 | |||
Beginning Balance at Jun. 30, 2019 | $ 1,157,024 | (7,545) | 734,555 | ||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Equity compensation expense | 1,931 | ||||
Issuance of common stock, net of issuance costs | 27,970 | ||||
Payment of minimum tax withholdings for share-based payment awards | 0 | ||||
Other comprehensive income | $ 162 | 162 | |||
Reclassification of excess income tax benefits | 0 | 0 | |||
Net income attributable to Avista Corporation shareholders | 5,090 | 5,090 | |||
Cash dividends paid (common stock) | (25,619) | ||||
Ending Balance at Sep. 30, 2019 | 1,893,568 | $ 1,186,925 | $ (7,383) | $ 714,026 | |
Beginning Balance Noncontrolling Interest at Jun. 30, 2019 | 0 | ||||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Net income (loss) attributable to noncontrolling interests | 0 | ||||
Cash dividends paid to subsidiary noncontrolling interests | 0 | ||||
Deconsolidation of noncontrolling interests related to sale of METALfx | 0 | ||||
Ending Balance Noncontrolling Interest at Sep. 30, 2019 | 0 | $ 0 | |||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||||
Total Avista Corporation shareholders’ equity | $ 1,893,568 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2019 | |
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 its 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 the Company's Noxon Rapids generating facility. AERC is a wholly-owned subsidiary of Avista Corp. The primary subsidiary of AERC is AEL&P, which comprises Avista Corp.'s regulated utility operations in Alaska. 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., which is a subsidiary of AERC. See Note 17 for business segment information. See Note 19 for discussion of the sale of METALfx, an unregulated subsidiary of the Company. 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. Derivative Assets and Liabilities Derivatives are recorded as either assets or liabilities on the Condensed Consolidated Balance Sheets measured at estimated fair value. The WUTC and the 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. Realized benefits and costs result in adjustments to retail rates through PGAs, the ERM in Washington, the PCA mechanism in Idaho, and periodic general rate cases. The resulting regulatory assets associated with energy commodity derivative instruments have been concluded to be probable of 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, Avista Corp. records all mark-to-market gains and losses in each accounting period as assets and liabilities, as well as 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 swap derivatives, the cash payments made or received are recorded as a regulatory asset or liability and are subsequently amortized as a component of interest expense over the life of the associated debt. The settled interest rate swap derivatives are also included as a part of Avista Corp.'s cost of debt calculation for ratemaking purposes. 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). 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 swaps and foreign currency exchange contracts, are reported at estimated fair value on the Condensed Consolidated Balance Sheets. See Note 12 for the Company’s fair value disclosures. 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 loss contingencies that do not meet these conditions for accrual if there is a reasonable possibility that a material loss may be incurred. See Note 16 for further discussion of the Company's commitments and contingencies. Reclassification to Comply with Required FERC Regulatory Reporting During the third quarter of 2019, the FERC completed an audit of Avista Corp. that covered the period January 1, 2015 through December 31, 2018. Avista Corp.’s AFUDC rate, which is prescribed by state regulatory authorities, is different than the FERC approved method for calculating AFUDC. The FERC indicated that the difference in rates should be recorded as a regulatory asset rather than utility plant. At the conclusion of the audit, the FERC required Avista Corp. to reclass the excess AFUDC from Net utility plant to Non-current regulatory assets for the period January 1, 2010 (the effective date of the Company’s current fixed transmission rates) to the present. As a result of this finding, Avista Corp. reclassed approximately $37 million from Net utility plant to Non-current regulatory assets as of September 30, 2019, which represents the cumulative adjustment for 2010 through 2017. The Company recorded the difference in AFUDC rates for 2018 and 2019 as a regulatory asset in the respective periods incurred. The Company did not adjust prior period Condensed Consolidated Balances Sheets as the FERC required the adjustment to be reflected on a cumulative basis at the end of the audit and required the AFUDC calculation to be modified on a prospective basis. The Company concluded that the differences were insignificant during each prior period and on a cumulative basis. The adjustment recorded during the third quarter 2019 had no effect on net income or earnings per share. |
New Accounting Standards
New Accounting Standards | 9 Months Ended |
Sep. 30, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Standards | NEW ACCOUNTING STANDARDS ASU No. 2016-02, "Leases (Topic 842)" ASU No. 2018-01, "Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842" ASU No. 2018-11, "Leases (Topic 842): Targeted Improvements" On January 1, 2019, the Company adopted ASU No. 2016-02, which outlines a model for entities to use in accounting for leases and supersedes previous lease accounting guidance, as well as several practical expedients in ASU Nos. 2018-01 and 2018-11. The Company adopted ASU No. 2016-02 utilizing a modified retrospective adoption method with the "package of three" and hindsight practical expedients offered by the standard. The "package of three" provides for an entity to not reassess at adoption whether any expired or existing contracts are deemed, for accounting purposes, to be or contain leases, the classification of any expired or existing leases, and any initial direct costs for any existing leases. As a result, the Company did not reassess existing or expired contracts under the new lease guidance and it did not reassess the classification of any existing leases. The Company used the benefit of hindsight in determining both term and impairments associated with any existing leases. Use of this practical expedient has resulted in lease terms that best represent management's expectations with respect to use of the underlying asset but did not result in recognition of any impairment. The Company elected to adopt ASU No. 2018-01, which allows an entity to exclude from application of Topic 842 all easements executed prior to January 1, 2019. In addition, the Company elected to adopt the "comparatives under 840" practical expedient offered in ASU No. 2018-11, which allows an entity to apply the new lease standard at the adoption date, recognizing any necessary cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption and presenting comparative periods in the financial statements under ASC 840 (previous lease accounting guidance). Adoption of the standard did not result in a cumulative effect adjustment within the Company's financial statements. As allowed by ASU No. 2016-02, the Company elected not to apply the requirements of the standard to short-term leases, those leases with an initial term of 12 months or less. These leases are not recorded on the balance sheet and are immaterial to the financial statements. Adoption of the standard impacted the Company's Condensed Consolidated Balance Sheet through recognition of right-of-use (ROU) assets and lease liabilities for the Company's operating leases. Accounting for finance leases (formerly capital leases) remained substantially unchanged. See Note 5 for further information on the Company's leases. ASU No. 2018-02 “Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” In February 2018, the FASB issued ASU No. 2018-02, which amended the guidance for reporting comprehensive income. This ASU allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the enactment of the TCJA in December 2017. This ASU became effective for periods beginning after December 15, 2018 and early adoption was permitted. Upon adoption, the requirements of this ASU must be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the TCJA is recognized. The Company early adopted this standard effective January 1, 2018 and elected to apply the guidance during the period of adoption rather than apply the standard retrospectively. As a result, the Company reclassified $1.7 million in tax benefits from accumulated other comprehensive loss to retained earnings during the nine months ended September 30, 2018 . ASU 2018-13 "Fair Value Measurement (Topic 820)" In August 2018, the FASB issued ASU No. 2018-13, which amends the fair value measurement disclosure requirements of ASC 820. The requirements of this ASU include additional disclosure regarding the range and weighted average used to develop significant unobservable inputs for Level 3 fair value estimates and the elimination of certain other previously required disclosures, such as the narrative description of the valuation process for Level 3 fair value measurements. This ASU is effective for periods beginning after December 15, 2019 and early adoption is permitted. Entities have the option to early adopt the eliminated or modified disclosure requirements and delay the adoption of all the new disclosure requirements until the effective date of the ASU. The Company is in the process of evaluating this standard; however, it has determined that it will not early adopt any portion of this standard as of September 30, 2019 . ASU No. 2018-14 "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20)" In August 2018, the FASB issued ASU No. 2018-14, which amends ASC 715 to add, remove and/or clarify certain disclosure requirements related to defined benefit pension and other postretirement plans. The additional disclosure requirements are primarily narrative discussion of significant changes in the benefit obligations and plan assets. The removed disclosures are primarily information about accumulated other comprehensive income expected to be recognized over the next year and the effects of changes associated with assumed health care costs. This ASU is effective for periods beginning after December 15, 2021 and early adoption is permitted. The Company is in the process of evaluating this standard; however, it has determined that it will not early adopt this standard as of September 30, 2019 . |
Balance Sheet Components Balanc
Balance Sheet Components Balance Sheet Components (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Balance Sheet Related Disclosures [Abstract] | |
Supplemental Balance Sheet Disclosures [Text Block] | BALANCE SHEET COMPONENTS 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 market for our non-regulated operations and consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Materials and supplies $ 46,721 $ 47,403 Fuel stock 5,522 4,869 Stored natural gas 15,489 11,609 Total $ 67,732 $ 63,881 Other Current Assets Other current assets consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Collateral posted for derivative instruments after netting with outstanding derivative liabilities $ 1,400 $ 26,809 Prepayments 19,377 17,536 Other 16,216 9,665 Total $ 36,993 $ 54,010 Net Utility Property Net utility property consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Utility plant in service $ 6,335,663 $ 6,209,968 Construction work in progress 185,167 160,598 Total 6,520,830 6,370,566 Less: Accumulated depreciation and amortization 1,793,816 1,721,636 Total net utility property $ 4,727,014 $ 4,648,930 Other Property and Investments-Net and Other Non-Current Assets Other property and investments-net and other non-current assets consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Operating lease ROU assets $ 70,140 $ — Finance lease ROU assets 51,890 — Non-utility property 27,151 31,355 Equity investments 41,609 29,257 Investment in affiliated trust 11,547 11,547 Notes receivable 15,751 11,073 Deferred compensation assets 8,852 8,400 Other 21,943 23,065 Total $ 248,883 $ 114,697 Other Current Liabilities Other current liabilities consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Accrued taxes other than income taxes $ 35,618 $ 36,858 Employee paid time off accruals 21,693 20,992 Accrued interest 30,157 16,704 Current portion of pensions and other postretirement benefits 8,826 9,151 Derivative liabilities 3,109 3,908 Other current liabilities 30,686 32,745 Total other current liabilities $ 130,089 $ 120,358 Other Non-Current Liabilities and Deferred Credits Other non-current liabilities and deferred credits consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Operating lease liabilities $ 68,925 $ — Finance lease liabilities 52,450 — Deferred investment tax credits 30,639 29,725 Asset retirement obligations 18,071 18,266 Derivative liabilities 46,050 10,300 Other 13,204 12,740 Total $ 229,339 $ 71,031 Regulatory Assets and Liabilities Regulatory assets and liabilities consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, 2019 December 31, 2018 Current Non-Current Current Non-Current Regulatory Assets Energy commodity derivatives $ 6,374 $ 1,018 $ 41,428 $ 16,866 Decoupling surcharge 10,266 18,395 3,408 17,501 Pension and other postretirement benefit plans — 218,006 — 228,062 Interest rate swaps — 189,872 — 133,854 Deferred income taxes — 93,818 — 91,188 Settlement with Coeur d'Alene Tribe — 41,660 — 42,643 AFUDC above FERC allowed rate (1) — 37,239 — 1,814 Demand side management programs — 11,701 — 19,674 Utility plant to be abandoned — 25,849 — 24,334 Other regulatory assets 3,250 51,256 3,716 38,418 Total regulatory assets $ 19,890 $ 688,814 $ 48,552 $ 614,354 Regulatory Liabilities Income tax related liabilities $ 23,409 $ 414,857 $ 27,997 $ 425,613 Deferred natural gas costs 3,762 — 40,713 — Deferral power costs 7,711 29,618 25,072 16,933 Decoupling rebate 99 3,098 6,782 204 Utility plant retirement costs — 307,923 — 297,379 Interest rate swaps — 16,863 — 28,078 Other regulatory liabilities 8,461 13,772 12,645 12,494 Total regulatory liabilities $ 43,442 $ 786,131 $ 113,209 $ 780,701 (1) See Note 1 for a description of a reclassification associated with this regulatory asset. |
Revenue Revenue (Notes)
Revenue Revenue (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | REVENUE ASC 606 defines the core principle of the revenue recognition model is that an entity should identify the various performance obligations in a contract, allocate the transaction price among the performance obligations and recognize revenue when (or as) the entity satisfies each performance obligation. Utility Revenues Revenue from Contracts with Customers General The majority of Avista Corp.’s revenue is from rate-regulated sales of electricity and natural gas to retail customers, which has two performance obligations, (1) having service available for a specified period (typically a month at a time) and (2) the delivery of energy to customers. The total energy price generally has a fixed component (basic charge) related to having service available and a usage-based component, related to the delivery and consumption of energy. The commodity is sold and/or delivered to and consumed by the customer simultaneously, and the provisions of the relevant utility commission authorization determine the charges the Company may bill the customer. Given that all revenue recognition criteria are met upon the delivery of energy to customers, revenue is recognized immediately at that time. Revenues from contracts with customers are presented in the Condensed Consolidated Statements of Income in the line item "Utility revenues, exclusive of alternative revenue programs." Non-Derivative Wholesale Contracts The Company has certain wholesale contracts which are not accounted for as derivatives and, accordingly, are within the scope of ASC 606 and considered revenue from contracts with customers. Revenue is recognized as energy is delivered to the customer or the service is available for a specified period of time, consistent with the discussion of rate-regulated sales above. Alternative Revenue Programs (Decoupling) ASC 606 retained existing GAAP associated with alternative revenue programs, which specified that alternative revenue programs are contracts between an entity and a regulator of utilities, not a contract between an entity and a customer. GAAP requires that an entity present revenue arising from alternative revenue programs separately from revenues arising from contracts with customers on the face of the Condensed Consolidated Statements of Income. The Company's decoupling mechanisms (also known as a FCA in Idaho) qualify as alternative revenue programs. Decoupling revenue deferrals are recognized in the Condensed Consolidated Statements of Income during the period they occur (i.e. during the period of revenue shortfall or excess due to fluctuations in customer usage), subject to certain limitations, and a regulatory asset or liability is established that will be surcharged or rebated to customers in future periods. GAAP requires that for any alternative revenue program, like decoupling, the revenue must be expected to be collected from customers within 24 months of the deferral to qualify for recognition in the current period Condensed Consolidated Statement of Income. Any amounts included in the Company's decoupling program that are not expected to be collected from customers within 24 months are not recorded in the financial statements until the period in which revenue recognition criteria are met. The amounts expected to be collected from customers within 24 months represents an estimate that must be made by the Company on an ongoing basis due to it being based on the volumes of electric and natural gas sold to customers on a go-forward basis. Derivative Revenue Most wholesale electric and natural gas transactions (including both physical and financial transactions), and the sale of fuel are considered derivatives, which are specifically scoped out of ASC 606. As such, these revenues are disclosed separately from revenue from contracts with customers. Revenue is recognized for these items upon the settlement/expiration of the derivative contract. Derivative revenue includes those transactions that are entered into and settled within the same month. Other Utility Revenue Other utility revenue includes rent, revenues from the lineman training school, sales of materials, late fees and other charges that do not represent contracts with customers. Other utility revenue also includes the provision for earnings sharing and the deferral and amortization of refunds to customers associated with the TCJA. This revenue is scoped out of ASC 606, as this revenue does not represent items where a customer is a party that has contracted with the Company to obtain goods or services that are an output of the Company’s ordinary activities in exchange for consideration. As such, these revenues are presented separately from revenue from contracts with customers. Other Considerations for Utility Revenues Gross Versus Net Presentation Revenues and resource costs from Avista Utilities’ settled energy contracts that are “booked out” (not physically delivered) are reported on a net basis as part of derivative revenues. Utility-related taxes collected from customers (primarily state excise taxes and city utility taxes) are taxes that are imposed on Avista Utilities as opposed to being imposed on its customers; therefore, Avista Utilities is the taxpayer and records these transactions on a gross basis in revenue from contracts with customers and operating expense (taxes other than income taxes). The utility-related taxes collected from customers at AEL&P are imposed on the customers rather than AEL&P; therefore, the customers are the taxpayers and AEL&P is acting as their agent. As such, these transactions at AEL&P are presented on a net basis within revenue from contracts with customers. Utility-related taxes that were included in revenue from contracts with customers were as follows for the three and nine months ended September 30 (dollars in thousands): Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Utility-related taxes $ 11,867 $ 12,294 $ 43,644 $ 44,447 Non-Utility Revenues Revenue from Contracts with Customers Non-utility revenue from contracts with customers is derived from contracts with one performance obligation. Prior to its sale in April 2019 (See Note 19 for further discussion on the sale of METALfx), METALfx had one performance obligation, the delivery of a product, and revenues were recognized when the risk of loss transferred to the customer, which occurred when products were shipped. The Steam Plant Brew Pub serves food and beverages to customers, its one performance obligation, and recognizes revenues at the time of service to the customer. Significant Judgments and Unsatisfied Performance Obligations The only significant judgments involving revenue recognition are estimates surrounding unbilled revenue and receivables from contracts with customers and estimates surrounding the amount of decoupling revenues that will be collected from customers within 24 months (discussed above). The Company has certain capacity arrangements, where the Company has a contractual obligation to provide either electric or natural gas capacity to its customers for a fixed fee. Most of these arrangements are paid for in arrears by the customers and do not result in deferred revenue and only result in receivables from the customers. The Company does have one capacity agreement where the customer makes payments throughout the year and depending on the timing of the customer payments, it can result in an immaterial amount of deferred revenue or a receivable from the customer. As of September 30, 2019 , the Company estimates it had unsatisfied capacity performance obligations of $7.0 million , which will be recognized as revenue in future periods as the capacity is provided to the customers. These performance obligations are not reflected in the financial statements, as the Company has not received payment for these services. Disaggregation of Total Operating Revenue The following table disaggregates total operating revenue by segment and source for the three and nine months ended September 30 (dollars in thousands): Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Avista Utilities Revenue from contracts with customers $ 234,534 $ 242,098 $ 820,438 $ 835,373 Derivative revenues 33,372 32,718 99,628 147,467 Alternative revenue programs 6,038 606 11,105 (1,763 ) Deferrals and amortizations for rate refunds to customers (927 ) 2,922 3,720 (16,900 ) Other utility revenues 1,914 1,205 7,550 6,348 Total Avista Utilities 274,931 279,549 942,441 970,525 AEL&P Revenue from contracts with customers 7,687 9,599 27,043 35,008 Deferrals and amortizations for rate refunds to customers (48 ) (156 ) (143 ) (1,705 ) Other utility revenues 151 127 514 412 Total AEL&P 7,790 9,570 27,414 33,715 Other Revenue from contracts with customers 731 6,580 10,402 19,633 Other revenues 318 314 806 799 Total other 1,049 6,894 11,208 20,432 Total operating revenues $ 283,770 $ 296,013 $ 981,063 $ 1,024,672 Utility Revenue from Contracts with Customers by Type and Service The following table disaggregates revenue from contracts with customers associated with the Company's utility operations for the three and nine months ended September 30 (dollars in thousands): 2019 2018 Avista Utilities AEL&P Total Utility Avista Utilities AEL&P Total Utility Three months ended September 30: ELECTRIC OPERATIONS Revenue from contracts with customers Residential $ 78,548 $ 2,764 $ 81,312 $ 82,470 $ 2,987 $ 85,457 Commercial and governmental 81,352 4,857 86,209 80,744 6,546 87,290 Industrial 28,453 — 28,453 30,806 — 30,806 Public street and highway lighting 1,849 66 1,915 1,860 66 1,926 Total retail revenue 190,202 7,687 197,889 195,880 9,599 205,479 Transmission 4,058 — 4,058 4,832 — 4,832 Other revenue from contracts with customers 5,860 — 5,860 8,564 — 8,564 Total revenue from contracts with customers $ 200,120 $ 7,687 $ 207,807 $ 209,276 $ 9,599 $ 218,875 NATURAL GAS OPERATIONS Revenue from contracts with customers Residential $ 20,271 $ — $ 20,271 $ 19,248 $ — $ 19,248 Commercial 10,093 — 10,093 9,436 — 9,436 Industrial and interruptible 1,000 — 1,000 1,006 — 1,006 Total retail revenue 31,364 — 31,364 29,690 — 29,690 Transportation 1,925 — 1,925 2,007 — 2,007 Other revenue from contracts with customers 1,125 — 1,125 1,125 — 1,125 Total revenue from contracts with customers $ 34,414 $ — $ 34,414 $ 32,822 $ — $ 32,822 Nine months ended September 30: ELECTRIC OPERATIONS Revenue from contracts with customers Residential $ 266,826 $ 12,340 $ 279,166 $ 272,041 $ 13,680 $ 285,721 Commercial and governmental 236,973 14,515 251,488 236,115 21,131 257,246 Industrial 79,946 — 79,946 83,910 — 83,910 Public street and highway lighting 5,648 188 5,836 5,618 197 5,815 Total retail revenue 589,393 27,043 616,436 597,684 35,008 632,692 Transmission 13,460 — 13,460 12,833 — 12,833 Other revenue from contracts with customers 18,433 — 18,433 18,774 — 18,774 Total electric revenue from contracts with customers $ 621,286 $ 27,043 $ 648,329 $ 629,291 $ 35,008 $ 664,299 2019 2018 Avista Utilities AEL&P Total Utility Avista Utilities AEL&P Total Utility NATURAL GAS OPERATIONS Revenue from contracts with customers Residential $ 125,543 $ — $ 125,543 $ 130,668 $ — $ 130,668 Commercial 60,056 — 60,056 61,477 — 61,477 Industrial and interruptible 3,730 — 3,730 3,767 — 3,767 Total retail revenue 189,329 — 189,329 195,912 — 195,912 Transportation 6,448 — 6,448 6,795 — 6,795 Other revenue from contracts with customers 3,375 — 3,375 3,375 — 3,375 Total natural gas revenue from contracts with customers $ 199,152 $ — $ 199,152 $ 206,082 $ — $ 206,082 |
Leases Leases (Notes)
Leases Leases (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Lessee, Operating Leases [Text Block] | LEASES ASC 842, which outlines a model for entities to use in accounting for leases and supersedes previous lease accounting guidance, became effective on January 1, 2019. The core principle of the model is that an entity should recognize the ROU assets and liabilities that arise from leases on the balance sheet and depreciate or amortize the asset and liability over the term of the lease, as well as provide disclosure to enable users of the condensed consolidated financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. Significant Judgments and Assumptions The Company determines if an arrangement is a lease, as well as its classification, at its inception. ROU assets represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Operating and finance lease ROU assets and lease liabilities are recognized at the commencement date of the agreement based on the present value of lease payments over the lease term. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date to determine the present value of lease payments. The implicit rate is used when it is readily determinable. The operating and finance lease ROU assets also include any lease payments made and exclude lease incentives, if any, that accrue to the benefit of the lessee. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Any difference between lease expense and cash paid for leased assets is recognized as a regulatory asset or regulatory liability. Description of Leases Operating Leases The Company's most significant operating lease is with the state of Montana associated with submerged land around the Company's hydroelectric facilities in the Clark Fork River basin, which expires in 2046. The terms of this lease are subject to renegotiation, depending on the outcome of ongoing litigation between Montana and NorthWestern Energy. In addition, the state of Montana and Avista Corp. are engaged in litigation regarding lease terms, including how much money, if any, the state of Montana will return to Avista Corp. Avista Corp. is currently paying all lease payments to the state of Montana into an escrow account until the litigation is resolved. As such, amounts recorded for this lease are uncertain and amounts may change in the future depending on the outcome of the ongoing litigation. Any reduction in future lease payments or the return of previously paid amounts to Avista Corp. will be including in the future ratemaking process. In addition to the lease with the state of Montana, the Company also has other operating leases for land associated with its utility operations, as well as communication sites which support network and radio communications within its service territory. The Company's leases have remaining terms of 1 to 74 years . Most of the Company's leases include options to extend the lease term for periods of 5 to 50 years . Options are exercised at the Company's discretion. Certain of the Company's lease agreements include rental payments which are periodically adjusted over the term of the agreement based on the consumer price index. The Company's lease agreements do not include any material residual value guarantees or material restrictive covenants. Avista Corp. does not record leases with a term of 12 months or less in the Condensed Consolidated Balance Sheet. Total short-term lease costs for the three and nine months ended September 30, 2019 are immaterial. Finance Lease Through its wholly-owned subsidiary, AEL&P, the Company has a PPA which is treated as a finance lease for accounting purposes related to the Snettisham Hydroelectric Project, which expires in 2034. For ratemaking purposes, this lease is treated as an operating lease with a constant level of annual rental expense (straight line rent expense). Because of this regulatory treatment, any difference between the operating lease expense for ratemaking purposes and the expenses recognized under finance lease treatment (interest and amortization of the finance lease ROU asset) is recorded as a regulatory asset and amortized during the later years of the lease when the finance lease expense is less than the operating lease expense included in base rates. In 2018 and prior years, the total cost associated with the Snettisham PPA was included in resource costs. Due to the adoption of the new lease standard, the amortization of the ROU asset is now included in depreciation and amortization and the interest associated with the lease liability is now included in interest expense on the Condensed Consolidated Statement of Income. Leases that Have Not Yet Commenced In June 2018, the Company finalized a lease agreement for office space in Spokane, Washington. The lease period is expected to commence in April 2020, once the Company takes possession of its portion of its portion of the building. The lease is an operating lease for a term of 12 years and will result in annual rent expense of approximately $1.1 million , which will be reflected in other operating expenses. In addition to base rent expense, the Company is expected to share in a portion of the annual operating expenses of the building. In March 2019, the Company signed a PPA with Clearway Energy Group (Clearway) to purchase all of the power generated from the Rattlesnake Flat Wind project in Adams County, Washington. The facility has a nameplate capacity of 144 MW and is expected to generate approximately 50 aMW. During negotiations with Clearway, Avista Corp. was involved in the selection of the preferred generation facility type. The PPA is a 20-year agreement with deliveries expected to begin in 2020. The PPA provides Avista Corp. with additional renewable energy, capacity and environmental attributes. Avista Corp. expects to recover the cost of the power purchased through its retail rates. This PPA is considered a lease under ASC 842; however, all of the payments are variable payments based on whether power is generated from the facility. Since all the payments are variable, the Company will not record a lease liability for the agreement, but the expense will be included in resource costs when it becomes operational in 2020. The components of lease expense were as follows for the three and nine months ended September 30 , 2019 (dollars in thousands): Three months ended September 30, 2019 Nine months ended September 30, 2019 Operating lease cost: Fixed lease cost (Other operating expenses) $ 1,109 $ 3,318 Variable lease cost (Other operating expenses) 248 735 Total operating lease cost $ 1,357 $ 4,053 Finance lease cost: Amortization of ROU asset (Depreciation and amortization) $ 911 $ 2,731 Interest on lease liabilities (Interest expense) 698 2,096 Total finance lease cost $ 1,609 $ 4,827 Supplemental cash flow information related to leases was as follows for the nine months ended September 30 (dollars in thousands): 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows: Operating lease payments $ 4,311 Interest on finance lease 2,096 Total operating cash outflows $ 6,407 Finance cash outflows: Principal payments on finance lease $ 1,995 Supplemental balance sheet information related to leases was as follows for September 30, 2019 (dollars in thousands): September 30, 2019 Operating Leases Operating lease ROU assets (Other property and investments-net and other non-current assets) $ 70,140 Other current liabilities $ 4,119 Other non-current liabilities and deferred credits 68,925 Total operating lease liabilities $ 73,044 Finance Leases Finance lease ROU assets (Other property and investments-net and other non-current assets) (a) $ 51,890 Other current liabilities (b) $ 2,765 Other non-current liabilities and deferred credits (b) 52,450 Total finance lease liabilities $ 55,215 Weighted Average Remaining Lease Term Operating leases 26.81 years Finance leases 8.13 years Weighted Average Discount Rate Operating leases 3.82 % Finance leases 4.71 % (a) At December 31, 2018, the finance lease ROU assets were included in "Net utility property" on the Condensed Consolidated Balance Sheet. Due to the adoption of ASC 842 on January 1, 2019, the Company has reclassified these amounts to "Other property and investments-net and other non-current assets" on the Condensed Consolidated Balance Sheet such that their presentation as of September 30, 2019 is consistent with operating leases. (b) At December 31, 2018, the finance lease liabilities were included in "Current portion of long-term debt" and "Long-term debt and capital leases" on the Condensed Consolidated Balance Sheet. Due to the adoption of ASC 842 on January 1, 2019, the Company has reclassified these amounts to "Other current liabilities" and "Other non-current liabilities and deferred credits" on the Condensed Consolidated Balance Sheet such that their presentation as of September 30, 2019 is consistent with operating leases. Maturities of lease liabilities (including principal and interest) were as follows as of September 30, 2019 (dollars in thousands): Operating Leases Finance Leases Remainder 2019 $ 4,063 $ 1,363 2020 4,371 5,462 2021 4,374 5,457 2022 4,385 5,460 2023 4,398 5,456 Thereafter 96,056 54,574 Total lease payments $ 117,647 $ 77,772 Less: imputed interest (44,603 ) (22,557 ) Total $ 73,044 $ 55,215 Future minimum lease payments (including principal and interest) under Topic 840 as of December 31, 2018 (dollars in thousands): Operating Leases Finance Leases 2019 $ 4,995 $ 5,455 2020 4,876 5,462 2021 4,859 5,457 2022 4,782 5,460 2023 4,780 5,456 Thereafter 102,389 54,574 Total lease payments $ 126,681 $ 81,864 Less: imputed interest — (24,654 ) Total $ 126,681 $ 57,210 |
Lessee, Finance Leases [Text Block] | LEASES ASC 842, which outlines a model for entities to use in accounting for leases and supersedes previous lease accounting guidance, became effective on January 1, 2019. The core principle of the model is that an entity should recognize the ROU assets and liabilities that arise from leases on the balance sheet and depreciate or amortize the asset and liability over the term of the lease, as well as provide disclosure to enable users of the condensed consolidated financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. Significant Judgments and Assumptions The Company determines if an arrangement is a lease, as well as its classification, at its inception. ROU assets represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Operating and finance lease ROU assets and lease liabilities are recognized at the commencement date of the agreement based on the present value of lease payments over the lease term. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date to determine the present value of lease payments. The implicit rate is used when it is readily determinable. The operating and finance lease ROU assets also include any lease payments made and exclude lease incentives, if any, that accrue to the benefit of the lessee. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Any difference between lease expense and cash paid for leased assets is recognized as a regulatory asset or regulatory liability. Description of Leases Operating Leases The Company's most significant operating lease is with the state of Montana associated with submerged land around the Company's hydroelectric facilities in the Clark Fork River basin, which expires in 2046. The terms of this lease are subject to renegotiation, depending on the outcome of ongoing litigation between Montana and NorthWestern Energy. In addition, the state of Montana and Avista Corp. are engaged in litigation regarding lease terms, including how much money, if any, the state of Montana will return to Avista Corp. Avista Corp. is currently paying all lease payments to the state of Montana into an escrow account until the litigation is resolved. As such, amounts recorded for this lease are uncertain and amounts may change in the future depending on the outcome of the ongoing litigation. Any reduction in future lease payments or the return of previously paid amounts to Avista Corp. will be including in the future ratemaking process. In addition to the lease with the state of Montana, the Company also has other operating leases for land associated with its utility operations, as well as communication sites which support network and radio communications within its service territory. The Company's leases have remaining terms of 1 to 74 years . Most of the Company's leases include options to extend the lease term for periods of 5 to 50 years . Options are exercised at the Company's discretion. Certain of the Company's lease agreements include rental payments which are periodically adjusted over the term of the agreement based on the consumer price index. The Company's lease agreements do not include any material residual value guarantees or material restrictive covenants. Avista Corp. does not record leases with a term of 12 months or less in the Condensed Consolidated Balance Sheet. Total short-term lease costs for the three and nine months ended September 30, 2019 are immaterial. Finance Lease Through its wholly-owned subsidiary, AEL&P, the Company has a PPA which is treated as a finance lease for accounting purposes related to the Snettisham Hydroelectric Project, which expires in 2034. For ratemaking purposes, this lease is treated as an operating lease with a constant level of annual rental expense (straight line rent expense). Because of this regulatory treatment, any difference between the operating lease expense for ratemaking purposes and the expenses recognized under finance lease treatment (interest and amortization of the finance lease ROU asset) is recorded as a regulatory asset and amortized during the later years of the lease when the finance lease expense is less than the operating lease expense included in base rates. In 2018 and prior years, the total cost associated with the Snettisham PPA was included in resource costs. Due to the adoption of the new lease standard, the amortization of the ROU asset is now included in depreciation and amortization and the interest associated with the lease liability is now included in interest expense on the Condensed Consolidated Statement of Income. Leases that Have Not Yet Commenced In June 2018, the Company finalized a lease agreement for office space in Spokane, Washington. The lease period is expected to commence in April 2020, once the Company takes possession of its portion of its portion of the building. The lease is an operating lease for a term of 12 years and will result in annual rent expense of approximately $1.1 million , which will be reflected in other operating expenses. In addition to base rent expense, the Company is expected to share in a portion of the annual operating expenses of the building. In March 2019, the Company signed a PPA with Clearway Energy Group (Clearway) to purchase all of the power generated from the Rattlesnake Flat Wind project in Adams County, Washington. The facility has a nameplate capacity of 144 MW and is expected to generate approximately 50 aMW. During negotiations with Clearway, Avista Corp. was involved in the selection of the preferred generation facility type. The PPA is a 20-year agreement with deliveries expected to begin in 2020. The PPA provides Avista Corp. with additional renewable energy, capacity and environmental attributes. Avista Corp. expects to recover the cost of the power purchased through its retail rates. This PPA is considered a lease under ASC 842; however, all of the payments are variable payments based on whether power is generated from the facility. Since all the payments are variable, the Company will not record a lease liability for the agreement, but the expense will be included in resource costs when it becomes operational in 2020. The components of lease expense were as follows for the three and nine months ended September 30 , 2019 (dollars in thousands): Three months ended September 30, 2019 Nine months ended September 30, 2019 Operating lease cost: Fixed lease cost (Other operating expenses) $ 1,109 $ 3,318 Variable lease cost (Other operating expenses) 248 735 Total operating lease cost $ 1,357 $ 4,053 Finance lease cost: Amortization of ROU asset (Depreciation and amortization) $ 911 $ 2,731 Interest on lease liabilities (Interest expense) 698 2,096 Total finance lease cost $ 1,609 $ 4,827 Supplemental cash flow information related to leases was as follows for the nine months ended September 30 (dollars in thousands): 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows: Operating lease payments $ 4,311 Interest on finance lease 2,096 Total operating cash outflows $ 6,407 Finance cash outflows: Principal payments on finance lease $ 1,995 Supplemental balance sheet information related to leases was as follows for September 30, 2019 (dollars in thousands): September 30, 2019 Operating Leases Operating lease ROU assets (Other property and investments-net and other non-current assets) $ 70,140 Other current liabilities $ 4,119 Other non-current liabilities and deferred credits 68,925 Total operating lease liabilities $ 73,044 Finance Leases Finance lease ROU assets (Other property and investments-net and other non-current assets) (a) $ 51,890 Other current liabilities (b) $ 2,765 Other non-current liabilities and deferred credits (b) 52,450 Total finance lease liabilities $ 55,215 Weighted Average Remaining Lease Term Operating leases 26.81 years Finance leases 8.13 years Weighted Average Discount Rate Operating leases 3.82 % Finance leases 4.71 % (a) At December 31, 2018, the finance lease ROU assets were included in "Net utility property" on the Condensed Consolidated Balance Sheet. Due to the adoption of ASC 842 on January 1, 2019, the Company has reclassified these amounts to "Other property and investments-net and other non-current assets" on the Condensed Consolidated Balance Sheet such that their presentation as of September 30, 2019 is consistent with operating leases. (b) At December 31, 2018, the finance lease liabilities were included in "Current portion of long-term debt" and "Long-term debt and capital leases" on the Condensed Consolidated Balance Sheet. Due to the adoption of ASC 842 on January 1, 2019, the Company has reclassified these amounts to "Other current liabilities" and "Other non-current liabilities and deferred credits" on the Condensed Consolidated Balance Sheet such that their presentation as of September 30, 2019 is consistent with operating leases. Maturities of lease liabilities (including principal and interest) were as follows as of September 30, 2019 (dollars in thousands): Operating Leases Finance Leases Remainder 2019 $ 4,063 $ 1,363 2020 4,371 5,462 2021 4,374 5,457 2022 4,385 5,460 2023 4,398 5,456 Thereafter 96,056 54,574 Total lease payments $ 117,647 $ 77,772 Less: imputed interest (44,603 ) (22,557 ) Total $ 73,044 $ 55,215 Future minimum lease payments (including principal and interest) under Topic 840 as of December 31, 2018 (dollars in thousands): Operating Leases Finance Leases 2019 $ 4,995 $ 5,455 2020 4,876 5,462 2021 4,859 5,457 2022 4,782 5,460 2023 4,780 5,456 Thereafter 102,389 54,574 Total lease payments $ 126,681 $ 81,864 Less: imputed interest — (24,654 ) Total $ 126,681 $ 57,210 |
Derivatives And Risk Management
Derivatives And Risk Management | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments and Hedges, Assets [Abstract] | |
Derivatives And Risk Management | DERIVATIVES AND RISK MANAGEMENT Energy Commodity Derivatives Avista Corp. 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 Corp. utilizes derivative instruments, such as forwards, futures, swap derivatives and options, in order to manage the various risks relating to these commodity price exposures. Avista Corp. has an energy resources risk policy and control procedures to manage these risks. As part of Avista Corp.'s resource procurement and management operations in the electric business, Avista Corp. engages in an ongoing process of resource optimization, which involves the economic selection from available energy resources to serve Avista Corp.'s load obligations and the use of these resources to capture available economic value through wholesale market transactions. These include sales and purchases of 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 Corp. 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 Corp.’s distribution system. However, daily variations in natural gas demand can be significantly different than monthly demand projections. On the basis of these projections, Avista Corp. 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 Corp. also leaves a significant portion of its natural gas supply requirements unhedged for purchase in short-term and spot markets. Avista Corp. plans for sufficient natural gas delivery capacity to serve its retail customers for a theoretical peak day event. Avista Corp. generally has more pipeline and storage capacity than what is needed during periods other than a peak-day. Avista Corp. optimizes its natural gas resources by using market opportunities to generate economic value that helps mitigate fixed costs. Avista Corp. 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 Avista Corp. should buy or sell natural gas at other times during the year, Avista Corp. 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, 2019 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) Remainder 2019 2 420 4,208 33,788 37 696 1,166 15,878 2020 — 422 1,138 65,360 123 1,107 1,430 33,215 2021 — — 153 21,280 — 246 1,040 9,475 2022 — — 225 3,150 — — — — 2023 — — — — — — — — Thereafter — — — — — — — — The following table presents the underlying energy commodity derivative volumes as of December 31, 2018 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) Financial (1) Physical (1) Financial (1) Physical (1) Financial (1) Physical (1) Financial (1) 2019 206 941 10,732 101,293 197 2,790 2,909 54,418 2020 — — 1,138 47,225 123 959 1,430 14,625 2021 — — — 9,670 — — 1,049 4,100 2022 — — — — — — — — 2023 — — — — — — — — Thereafter — — — — — — — — (1) Physical transactions represent commodity transactions in which Avista Corp. 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, swap derivatives, 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 scheduled to be delivered and will be included in the various deferral and recovery mechanisms (ERM, PCA and PGAs), 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 Corp.’s 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 Corp.’s 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 Corp. hedges a portion of the foreign currency risk by purchasing Canadian currency exchange 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 Avista Corp.’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 exchange derivatives that Avista Corp. has outstanding as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Number of contracts 27 31 Notional amount (in United States dollars) $ 3,366 $ 4,018 Notional amount (in Canadian dollars) 4,460 5,386 Interest Rate Swap Derivatives Avista Corp. is affected by fluctuating interest rates related to a portion of its existing debt, and future borrowing requirements. Avista Corp. hedges a portion of its interest rate risk with financial derivative instruments, which may include interest rate swap derivatives and U.S. Treasury lock agreements. These interest rate swap derivatives 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 unsettled interest rate swap derivatives that Avista Corp. has outstanding as of September 30, 2019 and December 31, 2018 (dollars in thousands): Balance Sheet Date Number of Contracts Notional Amount Mandatory Cash Settlement Date September 30, 2019 7 $ 70,000 2020 3 35,000 2021 10 110,000 2022 December 31, 2018 6 $ 70,000 2019 6 60,000 2020 2 25,000 2021 7 80,000 2022 See Note 10 for further discussion of the bond purchase agreement and the related settlement of interest rate swaps in connection with the pricing of the bonds in September 2019. The fair value of outstanding interest rate swap derivatives can vary significantly from period to period depending on the total notional amount of swap derivatives outstanding and fluctuations in market interest rates compared to the interest rates fixed by the swaps. Avista Corp. is required to make cash payments to settle the interest rate swap derivatives when the fixed rates are higher than prevailing market rates at the date of settlement. Conversely, Avista Corp. receives cash to settle its interest rate swap derivatives when prevailing market rates at the time of settlement exceed the fixed swap rates. Summary of Outstanding Derivative Instruments The amounts recorded on the Condensed Consolidated Balance Sheet as of September 30, 2019 and December 31, 2018 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, 2019 (in thousands): Fair Value Derivative and Balance Sheet Location Gross Asset Gross Liability Collateral Netted Net Asset (Liability) on Balance Sheet Foreign currency exchange derivatives Other current liabilities $ — $ (21 ) $ — $ (21 ) Interest rate swap derivatives Other non-current liabilities and deferred credits — (53,271 ) 8,880 (44,391 ) Energy commodity derivatives Other current assets 677 (437 ) — 240 Other property and investments-net and other non-current assets 4,127 (3,486 ) — 641 Other current liabilities 27,506 (34,120 ) 3,505 (3,109 ) Other non-current liabilities and deferred credits 3,285 (4,943 ) — (1,658 ) Total derivative instruments recorded on the balance sheet $ 35,595 $ (96,278 ) $ 12,385 $ (48,298 ) The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of December 31, 2018 (in thousands): Fair Value Derivative and Balance Sheet Location Gross Asset Gross Liability Collateral Net Asset Foreign currency exchange derivatives Other current liabilities $ — $ (45 ) $ — $ (45 ) Interest rate swap derivatives Other current assets 5,283 — — 5,283 Other property and investments-net and other non-current assets 5,283 (440 ) — 4,843 Other non-current liabilities and deferred credits — (7,391 ) 530 (6,861 ) Energy commodity derivatives Other current assets 400 (130 ) — 270 Other current liabilities 31,457 (73,155 ) 37,790 (3,908 ) Other non-current liabilities and deferred credits 4,426 (21,292 ) 13,427 (3,439 ) Total derivative instruments recorded on the balance sheet $ 46,849 $ (102,453 ) $ 51,747 $ (3,857 ) Exposure to Demands for Collateral Avista Corp.'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 Avista Corp.'s credit ratings or changes in market prices, additional collateral may be required. In periods of price volatility, the level of exposure can change significantly. As a result, sudden and significant demands may be made against Avista Corp.'s credit facilities and cash. Avista Corp. actively monitors the exposure to possible collateral calls and takes steps to mitigate capital requirements. The following table presents Avista Corp.'s collateral outstanding related to its derivative instruments as of September 30, 2019 and December 31, 2018 (in thousands): September 30, December 31, 2019 2018 Energy commodity derivatives Cash collateral posted $ 4,906 $ 78,025 Letters of credit outstanding 9,500 6,500 Balance sheet offsetting (cash collateral against net derivative positions) 3,505 51,217 Interest rate swap derivatives Cash collateral posted 8,880 530 Balance sheet offsetting (cash collateral against net derivative positions) 8,880 530 Certain of Avista Corp.’s derivative instruments contain provisions that require Avista Corp. to maintain an "investment grade" credit rating from the major credit rating agencies. If Avista Corp.’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 Avista Corp. could be required to post as of September 30, 2019 and December 31, 2018 (in thousands): September 30, December 31, 2019 2018 Energy commodity derivatives Liabilities with credit-risk-related contingent features $ 1,345 $ 2,193 Additional collateral to post 1,339 2,193 Interest rate swap derivatives Liabilities with credit-risk-related contingent features 53,271 7,831 Additional collateral to post 44,391 6,579 |
Pension Plans And Other Postret
Pension Plans And Other Postretirement Benefit Plans | 9 Months Ended |
Sep. 30, 2019 | |
Retirement Benefits, Description [Abstract] | |
Pension Plans and Other Postretirement Benefit Plans | PENSION PLANS AND OTHER POSTRETIREMENT BENEFIT PLANS Avista Utilities Avista Utilities’ maintained the same pension and other postretirement plans during the nine months ended September 30, 2019 as those described as of December 31, 2018. 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 $22.0 million in cash to the pension plan for the nine months ended September 30, 2019 and does not expect any further contributions in 2019. 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 Postretirement Benefits 2019 2018 2019 2018 Three months ended September 30: Service cost $ 4,948 $ 5,318 $ 754 $ 815 Interest cost 7,134 6,634 1,140 1,261 Expected return on plan assets (7,913 ) (8,101 ) (616 ) (550 ) Amortization of prior service cost 75 71 (275 ) (299 ) Net loss recognition 2,553 1,761 1,299 1,044 Net periodic benefit cost $ 6,797 $ 5,683 $ 2,302 $ 2,271 Nine months ended September 30: Service cost $ 14,770 $ 16,218 $ 2,279 $ 2,423 Interest cost 21,372 19,566 3,676 3,655 Expected return on plan assets (23,681 ) (24,601 ) (1,945 ) (1,550 ) Amortization of prior service cost 225 221 (825 ) (905 ) Net loss recognition 7,394 5,691 3,874 3,261 Net periodic benefit cost $ 20,080 $ 17,095 $ 7,059 $ 6,884 Total service costs in the table above are recorded to the same accounts as labor expense. Labor and benefits expense is recorded to various projects based on whether the work is a capital project or an operating expense. Approximately 40 percent of all labor and benefits is capitalized to utility property and 60 percent is expensed to utility other operating expenses. The non-service portion of costs in the table above are recorded to other expense below income from operations in the Condensed Consolidated Statements of Income or capitalized as a regulatory asset. Approximately 40 percent of the costs are capitalized to regulatory assets and 60 percent is expensed to the income statement. |
Income Taxes Income Taxes (Note
Income Taxes Income Taxes (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | INCOME TAXES The following table summarizes the significant factors impacting the difference between our effective tax rate and the federal statutory rate for the three and nine months ended September 30 (dollars in thousands): Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Federal income taxes at statutory rates $ 1,041 21.0 % $ 2,452 21.0 % $ 36,554 21.0 % $ 22,721 21.0 % Increase (decrease) in tax resulting from: Tax effect of regulatory treatment of utility plant differences (2,139 ) (43.1 ) (1,521 ) (13.0 ) (6,358 ) (3.7 ) (4,519 ) (4.2 ) State income tax expense (800 ) (16.1 ) (319 ) (2.7 ) 851 0.5 694 0.6 Settlement of prior year tax returns and adjustment of tax reserves (604 ) (12.2 ) (136 ) (1.1 ) 1,995 1.1 (136 ) (0.1 ) Acquisition costs — — 122 1.0 (1,712 ) (1.0 ) 241 0.2 Non-plant excess deferred turnaround (1) (20 ) (0.4 ) — — (5,621 ) (3.2 ) — — Tax loss on sale of METALfx (13 ) (0.2 ) — — (1,272 ) (0.7 ) — — Valuation allowance — — — — 1,245 0.7 — — Settlement of equity awards — — — — 612 0.4 (990 ) (0.9 ) Other 2,404 48.4 950 8.1 1,851 1.1 (544 ) (0.5 ) Total income tax expense (benefit) $ (131 ) (2.6 )% $ 1,548 13.3 % $ 28,145 16.2 % $ 17,467 16.1 % (1) In March 2019, the IPUC approved an all-party settlement agreement related to electric tax benefits that were set aside for Colstrip in the 2017 general rate case order. In the approved settlement agreement, the parties agreed to utilize approximately $6.4 million ( $5.1 million when tax-effected) of the electric tax benefits to offset costs associated with accelerating the depreciation of Colstrip Units 3 & 4, to reflect a remaining useful life of those units through December 31, 2027. In the second quarter 2019, the Company recorded a one-time charge to depreciation expense with an offsetting amount included in income tax expense. |
Committed Lines of Credit
Committed Lines of Credit | 9 Months Ended |
Sep. 30, 2019 | |
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 that expires in April 2021 . The committed line of credit is secured by non-transferable first mortgage bonds of the Company issued to the agent bank that would only become due and payable in the event, and then only to the extent, that the Company defaults on its obligations under the committed line of credit. Balances outstanding and interest rates of borrowings (excluding letters of credit) under the Company’s revolving committed line of credit were as follows as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Balance outstanding at end of period (1) $ 207,000 $ 190,000 Letters of credit outstanding at end of period $ 13,503 $ 10,503 Average interest rate at end of period 2.94 % 3.18 % (1) As of September 30, 2019 there was $207.0 million outstanding under the committed line of credit; however, $119.3 million was classified as short-term borrowings and the remaining $87.7 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. The amount classified as long-term debt will be refinanced through the issuance and sale of first mortgage bonds in November 2019 pursuant to a bond purchase agreement entered into in September 2019. See Note 10 for further discussion of the bond purchase agreement and the refinancing of short-term debt on a long-term basis. The entire outstanding amount of the committed line of credit as of December 31, 2018 was classified as short-term borrowings. 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, 2019 and December 31, 2018 , there were no borrowings or letters of credit outstanding under this committed line of credit. The committed line of credit is secured by non-transferable first mortgage bonds of AEL&P issued to the agent bank that would only become due and payable in the event, and then only to the extent, that AEL&P defaults on its obligations under the committed line of credit. |
Long-Term Debt Long-Term Debt (
Long-Term Debt Long-Term Debt (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Long-term Debt, Unclassified [Abstract] | |
Long-term Debt [Text Block] | LONG-TERM DEBT In September 2019, the Company entered into a bond purchase agreement for $180.0 million of 3.43 percent first mortgage bonds due in 2049 through a private offering. The bonds are scheduled to be issued in November 2019 pursuant to the bond purchase agreement. The total net proceeds from the sale of the bonds will be used to repay maturing long-term debt of $90.0 million , repay a portion of the outstanding balance under Avista Corp.'s $400.0 million committed line of credit and for other general corporate purposes. In connection with entering into the bond purchase agreement, the Company cash-settled six interest rate swap derivatives (notional aggregate amount of $70.0 million ) and paid a net amount of $13.3 million . See Note 6 for a discussion of interest rate swap derivatives. Because the Company is refinancing short-term debt on a long-term basis, the Company has classified the $90.0 million maturing debt and $87.7 million of the committed line of credit that is expected to be paid off with the net proceeds of the first mortgage bonds as long-term debt. |
Long- Term Debt to Affiliated T
Long- Term Debt to Affiliated Trust Long-Term Debt to Affiliated Trust (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019 and the year ended December 31, 2018 : September 30, December 31, 2019 2018 Low distribution rate 3.01 % 2.36 % High distribution rate 3.40 % 3.61 % Distribution rate at the end of the period 3.01 % 3.61 % Concurrent with the issuance of the Preferred Trust Securities, Avista Capital II issued $1.5 million of Common Trust Securities to the Company. The Preferred Trust Securities may be redeemed at the option of Avista Capital II at any time 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. 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, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value | FAIR VALUE The carrying values of cash and cash equivalents, accounts and notes receivable, accounts payable, and short-term borrowings 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 fair values derived from 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, but 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, 2019 and December 31, 2018 (dollars in thousands): September 30, 2019 December 31, 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Long-term debt (Level 2) $ 1,053,500 $ 1,244,252 $ 1,053,500 $ 1,142,292 Long-term debt (Level 3) 767,000 855,530 767,000 734,742 Snettisham finance lease obligation (Level 3) 55,215 58,900 57,210 55,600 Long-term debt to affiliated trusts (Level 3) 51,547 40,207 51,547 38,145 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 78.00 to 135.60 , 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 Morgan Markets A Ex-Fin discount rate as published on September 30, 2019 . 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, 2019 and December 31, 2018 at fair value on a recurring basis (dollars in thousands): Level 1 Level 2 Level 3 Counterparty Total September 30, 2019 Assets: Energy commodity derivatives $ — $ 35,552 $ — $ (34,671 ) $ 881 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 43 (43 ) — Deferred compensation assets: Mutual Funds: Fixed income securities (2) 1,818 — — — 1,818 Equity securities (2) 6,591 — — — 6,591 Total $ 8,409 $ 35,552 $ 43 $ (34,714 ) $ 9,290 Liabilities: Energy commodity derivatives $ — $ 39,809 $ — $ (38,176 ) $ 1,633 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 3,177 (43 ) 3,134 Foreign currency exchange derivatives — 21 — — 21 Interest rate swap derivatives — 53,271 — (8,880 ) 44,391 Total $ — $ 93,101 $ 3,177 $ (47,099 ) $ 49,179 Level 1 Level 2 Level 3 Counterparty Total December 31, 2018 Assets: Energy commodity derivatives $ — $ 36,252 $ — $ (35,982 ) $ 270 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 31 (31 ) — Interest rate swap derivatives — 10,566 — (440 ) 10,126 Deferred compensation assets: Mutual Funds: Fixed income securities (2) 1,745 — — — 1,745 Equity securities (2) 6,157 — — — 6,157 Total $ 7,902 $ 46,818 $ 31 $ (36,453 ) $ 18,298 Liabilities: Energy commodity derivatives $ — $ 89,283 $ — $ (87,199 ) $ 2,084 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 2,805 (31 ) 2,774 Power exchange agreement — — 2,488 — 2,488 Power option agreement — — 1 — 1 Foreign currency exchange derivatives — 45 — — 45 Interest rate swap derivatives — 7,831 — (970 ) 6,861 Total $ — $ 97,159 $ 5,294 $ (88,200 ) $ 14,253 (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 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. See Note 6 for additional discussion of derivative netting. To establish fair value for energy commodity derivatives, the Company uses quoted market prices and forward price curves to estimate the fair value of energy commodity derivative 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 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 swap derivatives, 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 swap derivatives 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 $0.4 million as of September 30, 2019 and $0.5 million as of December 31, 2018 . Level 3 Fair Value Under the power exchange agreement, which expired on June 30, 2019, the Company purchased power at a price that was 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 estimated the difference between the purchase price based on the future O&M charges and forward prices for energy. The Company compared the Level 2 brokered quotes and forward price curves described above to an internally developed forward price which was based on the average O&M charges from the three surrogate nuclear power plants for the current year. The Company estimated the volumes of the transactions that would 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. 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, 2019 (dollars in thousands): Fair Value (Net) at September 30, 2019 Valuation Technique Unobservable Input Range Natural gas exchange agreement $ (3,134 ) Internally derived Forward purchase prices $1.29 - $1.92/mmBTU Forward sales prices $1.44 - $3.65/mmBTU Purchase volumes 125,000 - 310,000 mmBTUs Sales volumes 60,000 - 310,000 mmBTUs 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 Total Three months ended September 30, 2019: Balance as of July 1, 2019 $ (2,992 ) $ — $ (2,992 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) (133 ) — (133 ) Settlements (9 ) — (9 ) Ending balance as of September 30, 2019 (2) $ (3,134 ) $ — $ (3,134 ) Natural Gas Exchange Agreement Power Exchange Agreement Total Three months ended September 30, 2018: Balance as of July 1, 2018 $ (3,480 ) $ (6,345 ) $ (9,825 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) 476 436 912 Settlements — — — Ending balance as of September 30, 2018 (2) $ (3,004 ) $ (5,909 ) $ (8,913 ) Nine months ended September 30, 2019: Balance as of January 1, 2019 $ (2,774 ) $ (2,488 ) $ (5,262 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) 8,015 436 8,451 Settlements (8,375 ) 2,052 (6,323 ) Ending balance as of September 30, 2019 (2) $ (3,134 ) $ — $ (3,134 ) Nine months ended September 30, 2018: Balance as of January 1, 2018 $ (3,164 ) $ (13,245 ) $ (16,409 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) (89 ) 1,156 1,067 Settlements 249 6,180 6,429 Ending balance as of September 30, 2018 (2) $ (3,004 ) $ (5,909 ) $ (8,913 ) (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, 2019 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | COMMON STOCK The Company has entered into four separate sales agency agreements under which the sales agents may offer and sell new shares of the Company’s common stock from time to time. During the three and nine months ended September 30, 2019 the Company issued 0.6 million shares and 1.0 million shares under the sales agency agreements, respectively. These agreements provide for the offering of a maximum of approximately 4.6 million shares, of which approximately 3.6 million remain unissued as of September 30, 2019 . Subject to the satisfaction of customary conditions, the Company has the right to increase the maximum number of shares that may be offered under these agreements subject to regulatory approval. Accumulated other comprehensive loss, net of tax, consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Unfunded benefit obligation for pensions and other postretirement benefit plans - net of taxes of $1,963 and $2,091, respectively $ 7,383 $ 7,866 The following table details the reclassifications out of accumulated other comprehensive loss to net income by component for the three and nine months ended September 30 (dollars in thousands). Amounts Reclassified from Accumulated Other Comprehensive Loss Three months ended September 30, Nine months ended September 30, Details about Accumulated Other Comprehensive Loss Components 2019 2018 2019 2018 Affected Line Item in Statement of Income Amortization of defined benefit pension items Amortization of net prior service cost $ (200 ) $ (228 ) $ (600 ) $ (684 ) (a) Amortization of net loss 3,852 2,962 11,268 8,952 (a) Adjustment due to effects of regulation (3,447 ) (2,476 ) (10,057 ) (7,493 ) (a) 205 258 611 775 Total before tax (43 ) (54 ) (128 ) (163 ) Tax expense $ 162 $ 204 $ 483 $ 612 Net of tax (a) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 7 for additional details). |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | COMMON STOCK The Company has entered into four separate sales agency agreements under which the sales agents may offer and sell new shares of the Company’s common stock from time to time. During the three and nine months ended September 30, 2019 the Company issued 0.6 million shares and 1.0 million shares under the sales agency agreements, respectively. These agreements provide for the offering of a maximum of approximately 4.6 million shares, of which approximately 3.6 million remain unissued as of September 30, 2019 . Subject to the satisfaction of customary conditions, the Company has the right to increase the maximum number of shares that may be offered under these agreements subject to regulatory approval. Accumulated other comprehensive loss, net of tax, consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Unfunded benefit obligation for pensions and other postretirement benefit plans - net of taxes of $1,963 and $2,091, respectively $ 7,383 $ 7,866 The following table details the reclassifications out of accumulated other comprehensive loss to net income by component for the three and nine months ended September 30 (dollars in thousands). Amounts Reclassified from Accumulated Other Comprehensive Loss Three months ended September 30, Nine months ended September 30, Details about Accumulated Other Comprehensive Loss Components 2019 2018 2019 2018 Affected Line Item in Statement of Income Amortization of defined benefit pension items Amortization of net prior service cost $ (200 ) $ (228 ) $ (600 ) $ (684 ) (a) Amortization of net loss 3,852 2,962 11,268 8,952 (a) Adjustment due to effects of regulation (3,447 ) (2,476 ) (10,057 ) (7,493 ) (a) 205 258 611 775 Total before tax (43 ) (54 ) (128 ) (163 ) Tax expense $ 162 $ 204 $ 483 $ 612 Net of tax (a) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 7 for additional details). |
Earnings Per Common Share Attri
Earnings Per Common Share Attributable To Avista Corporation | 9 Months Ended |
Sep. 30, 2019 | |
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 September 30, Nine months ended September 30, 2019 2018 2019 2018 Numerator: Net income attributable to Avista Corp. shareholders $ 5,090 $ 10,119 $ 146,203 $ 90,586 Denominator: Weighted-average number of common shares outstanding-basic 66,265 65,688 65,964 65,668 Effect of dilutive securities: Performance and restricted stock awards 86 338 86 312 Weighted-average number of common shares outstanding-diluted 66,351 66,026 66,050 65,980 Earnings per common share attributable to Avista Corp. shareholders: Basic $ 0.08 $ 0.15 $ 2.22 $ 1.38 Diluted $ 0.08 $ 0.15 $ 2.21 $ 1.37 |
Commitments And Contingencies
Commitments And Contingencies | 9 Months Ended |
Sep. 30, 2019 | |
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. 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 (CFSA) 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 Corp. is reducing TDG by constructing spill crest modifications on spill gates at the dam. These modifications have been shown to be effective in reducing TDG downstream. TDG monitoring and analysis is ongoing. Under the terms of the mitigation plan, Avista Corp. will continue to work with stakeholders to determine the degree to which TDG abatement reduces future mitigation obligations. The Company has sought, and will continue to seek recovery, through the ratemaking process, of all operating and capitalized costs related to this issue. Legal Proceedings Related to the Terminated Acquisition by Hydro One See Note 18 for information regarding the termination of the proposed acquisition of the Company by Hydro One. In connection with the now terminated acquisition, three lawsuits were filed in the United States District Court for the Eastern District of Washington and were subsequently voluntarily dismissed by the plaintiffs. One lawsuit was filed in the Superior Court for the State of Washington in and for Spokane County, captioned as follows: • Fink v. Morris, et al., No. 17203616-6 (filed September 15, 2017, amended complaint filed October 25, 2017). The complaint generally alleged that the members of the Board of Directors of Avista Corp. breached their fiduciary duties by, among other things, conducting an allegedly inadequate sale process and agreeing to the acquisition at a price that allegedly undervalued Avista Corporation, and that Hydro One Limited, Olympus Holding Corp., and Olympus Corp. aided and abetted those purported breaches of duty. The complaint sought various remedies, including monetary damages, attorneys’ fees and expenses. Subsequent to the termination of the proposed acquisition in January 2019, the complaint was voluntarily dismissed by the plaintiffs. 2015 Washington General Rate Cases In January 2016, the Company received an order (Order 05) that concluded its electric and natural gas general rate cases that were originally filed with the WUTC in February 2015. New electric and natural gas rates were effective on January 11, 2016. WUTC Order Denying Industrial Customers of Northwest Utilities / Public Counsel Joint Motion for Clarification, WUTC Staff Motion to Reconsider and WUTC Staff Motion to Reopen Record In January 2016, the Industrial Customers of Northwest Utilities, the Public Counsel Unit of the Washington State Office of the Attorney General (PC) and the WUTC Staff, which is a separate party in the general rate case proceedings from the WUTC Advisory Staff, filed Motions for Clarification requesting the WUTC to clarify their attrition adjustment and the end result electric revenue amounts. The Motions for Clarification suggested that the electric revenue decrease should have been significantly larger than what was included in Order 05. In February 2016, the WUTC issued an order (Order 06) denying the Motions summarized above and affirming Order 05, including an $8.1 million decrease in electric base revenue. PC Petition for Judicial Review In March 2016, PC filed in Thurston County Superior Court a Petition for Judicial Review of the WUTC's Order 05 and Order 06 described above. In April 2016, this matter was certified for review directly by the Court of Appeals, an intermediate appellate court in the State of Washington. On August 7, 2018, the Court of Appeals issued a "Published Opinion" (Opinion) which concluded that the WUTC's use of an attrition allowance to calculate Avista Corp.'s rate base violated Washington law. In the Opinion, the Court stated that because the projected additions to rate base in the future were not "used and useful" for service at the time the request for the rate increase was made, they may not lawfully be included in the Company's rate base to justify a rate increase. Accordingly, the Court concluded that the WUTC erred in including an attrition allowance in the calculation of Avista Corp.’s electric and natural gas rate base. The Court noted, however, that the law does not prohibit an attrition allowance in the calculation, for ratemaking purposes, of recoverable operating and maintenance expense. Since the WUTC order provided one lump sum attrition allowance without distinguishing what portion was for rate base and which was for operating and maintenance expenses or other considerations, the Court struck all portions of the attrition allowance attributable to Avista Corp.'s rate base and reversed and remanded the case for the WUTC to recalculate Avista Corp.’s rates without including an attrition allowance in the calculation of rate base. On October 1, 2018, the Court of Appeals terminated its review of this case, remanding it back to the Thurston County Superior Court. On April 17, 2019, the Thurston County Superior Court issued a Remand Order, granting a Joint Motion of Avista Corp., PC and the WUTC to remand the case back to the WUTC. On June 20, 2019, Avista Corp. filed testimony with the WUTC in the remand case. In Avista Corp.'s testimony, it asserted that the potential amount to return to customers is limited to revenues collected during the 11 month period between the effective date of the 2015 general rate case and the resolution of the subsequent 2016 general rate case, which resolved in December 2016. In the remand testimony the Company also asserted that no refund is due to customers for the 2015 general rate cases because actual 2016 electric rate base was greater than the 2016 electric rate base allowed in the general rate case, which included the prohibited attrition allowance. In addition, while 2016 actual natural gas rate base was slightly lower than the rate base allowed in the general rate case including the attrition allowance, the Company had already provided a refund to customers as a part of its earnings sharing mechanism. Subsequent to the Company's filing, other parties in the case filed testimony and asserted that Avista Corp. should refund to customers amounts ranging from approximately $3 million to approximately $77 million . These parties justified the proposed refund by claiming that the rates in question were in effect from 2016 to April 2018 as opposed to the 11 months argued by Avista Corp. Further, the parties asserted that the WUTC should, directly or indirectly, correct what they believe is a power supply calculation error (approximately $20 million ), an issue that the WUTC already addressed and which the Company believes the Courts did not remand back to the WUTC for further process. While not its primary recommendation for a refund, the WUTC Staff included an alternative refund methodology in its testimony, which Avista Corp. calculates as calling for a refund of approximately $3 million , if limited to the 11 month period. While the Company does not agree as a legal matter with the positions of the other parties to the case, as a practical matter the Company believes that it is probable that it will refund some amount to customers. As such, as of September 30, 2019 the Company recorded a refund liability of approximately $3 million . Since the Company cannot predict the ultimate outcome of this matter at this time, the amount so recorded represents the Company's best current estimate of a potential loss. Boyds Fire (State of Washington Department of Natural Resources v. Avista) On August 19, 2019, the Company was served with a complaint filed by the State of Washington Department of Natural Resources, seeking recovery of fire suppression costs and related expenses incurred in connection with a wildfire that occurred in Ferry County, Washington in August 2018. Specifically, the complaint alleges that the fire, which became known as the “Boyds Fire,” was caused by a dead ponderosa pine tree falling into an overhead distribution line, and that, Avista was negligent in failing to identify and remove it before the tree came into contact with the line. Avista Corp. disputes that the tree in question was the cause of the fire, and that it was negligent in failing to identify and remove it. The case is in the early stages of discovery and the plaintiff has not yet provided a statement specifying damages. Because the resolution of this claim remains uncertain, legal counsel cannot express an opinion on the extent, if any, of the Company’s liability, nor is it possible for the Company to estimate the impact of any outcome at this time. The Company intends to vigorously defend itself in the litigation. 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. See "Note 20 of the Notes to Consolidated Financial Statements" in the 2018 Form 10-K for additional discussion regarding other contingencies. |
Information By Business Segment
Information By Business Segments | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019: Operating revenues $ 274,931 $ 7,790 $ 282,721 $ 1,049 $ — $ 283,770 Resource costs 98,397 (73 ) 98,324 — — 98,324 Other operating expenses (2) 76,749 3,363 80,112 1,450 — 81,562 Depreciation and amortization 47,631 2,421 50,052 134 — 50,186 Income (loss) from operations 28,998 1,780 30,778 (535 ) — 30,243 Interest expense (3) 24,634 1,596 26,230 149 (186 ) 26,193 Income taxes 125 82 207 (338 ) — (131 ) Net income (loss) attributable to Avista Corp. shareholders 5,966 197 6,163 (1,073 ) — 5,090 Capital expenditures (4) 118,141 2,836 120,977 920 — 121,897 For the three months ended September 30, 2018: Operating revenues $ 279,549 $ 9,570 $ 289,119 $ 6,894 $ — $ 296,013 Resource costs 98,461 3,058 101,519 — — 101,519 Other operating expenses (2) (5) 76,355 3,005 79,360 7,347 — 86,707 Depreciation and amortization 44,569 1,466 46,035 207 — 46,242 Income (loss) from operations (5) 35,317 1,787 37,104 (660 ) — 36,444 Interest expense (3) 23,560 896 24,456 462 (313 ) 24,605 Income taxes 2,564 188 2,752 (1,204 ) — 1,548 Net income (loss) attributable to Avista Corp. shareholders 11,935 824 12,759 (2,640 ) — 10,119 Capital expenditures (4) 108,907 4,176 113,083 257 — 113,340 For the nine months ended September 30, 2019: Operating revenues $ 942,441 $ 27,414 $ 969,855 $ 11,208 $ — $ 981,063 Resource costs 325,615 (1,505 ) 324,110 — — 324,110 Other operating expenses (2) 261,934 9,551 271,485 15,137 — 286,622 Depreciation and amortization 147,208 7,237 154,445 498 — 154,943 Income (loss) from operations 130,200 11,309 141,509 (4,427 ) — 137,082 Interest expense (3) 73,214 4,787 78,001 885 (823 ) 78,063 Income taxes 25,722 1,825 27,547 598 — 28,145 Net income attributable to Avista Corp. shareholders 139,086 4,825 143,911 2,292 — 146,203 Capital expenditures (4) 313,747 7,218 320,965 1,104 — 322,069 For the nine months ended September 30, 2018: Operating revenues $ 970,525 $ 33,715 $ 1,004,240 $ 20,432 $ — $ 1,024,672 Resource costs 353,148 8,958 362,106 — — 362,106 Other operating expenses (2) 230,342 9,049 239,391 20,714 — 260,105 Depreciation and amortization 132,022 4,397 136,419 587 — 137,006 Income (loss) from operations 174,310 10,488 184,798 (869 ) — 183,929 Interest expense (3) 71,953 2,686 74,639 1,179 (712 ) 75,106 Income taxes 17,716 2,098 19,814 (2,347 ) — 17,467 Net income (loss) attributable to Avista Corp. shareholders 91,727 5,878 97,605 (7,019 ) — 90,586 Capital expenditures (4) 288,046 8,169 296,215 809 — 297,024 Total Assets: As of September 30, 2019: $ 5,599,103 $ 275,618 $ 5,874,721 $ 107,386 $ (17,324 ) $ 5,964,783 As of December 31, 2018: $ 5,458,104 $ 272,950 $ 5,731,054 $ 87,050 $ (35,528 ) $ 5,782,576 (1) Intersegment eliminations reported as interest expense represent intercompany interest. (2) Other operating expenses for Avista Utilities for the three and nine months ended September 30 , 2019 and 2018 include merger transaction costs which are separately disclosed on the Condensed Consolidated Statements of Income. (3) Including interest expense to affiliated trusts. (4) The capital expenditures for the other businesses are included in other investing activities on the Condensed Consolidated Statements of Cash Flows. |
Termination of Proposed Acquisi
Termination of Proposed Acquisition by Hydro One Termination of Proposed Acquisition by Hydro One (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Business Acquisition [Line Items] | |
Business Combination Disclosure [Text Block] | On July 19, 2017, Avista Corp. entered into a Merger Agreement that provided for Avista Corp. to become an indirect, wholly-owned subsidiary of Hydro One, subject to the satisfaction or waiver of specified closing conditions, including approval by regulatory agencies. Hydro One, based in Toronto, is Ontario’s largest electricity transmission and distribution provider. Termination of the Merger Agreement Due to the denial of the proposed merger by certain of the Company's regulatory commissions, on January 23, 2019, Avista Corp., Hydro One and certain subsidiaries thereof, entered into a Termination Agreement indicating their mutual agreement to terminate the Merger Agreement, effective immediately. Pursuant to the terms of the Termination Agreement, Hydro One paid Avista Corp. a $103 million termination fee on January 24, 2019. The termination fee was used for reimbursing the Company's transaction costs incurred from 2017 to 2019. The balance of the termination fee remaining after payment of 2019 transaction costs and applicable income taxes was used for general corporate purposes and reduced the Company's need for external financing. The 2019 costs totaled $19.7 million pre-tax and included financial advisers' fees, legal fees, consulting fees and employee time. Other Information Related to the Terminated Acquisition Due to the termination of the acquisition, all the financial commitments that were included in the various settlement agreements with the commissions for the proposed acquisition will not be required to be performed or observed. The Company incurred significant transaction costs consisting primarily of consulting, banking fees, legal fees and employee time, and these costs are not being passed through to customers. When the Company was assuming the transaction was going to be completed, a significant portion of these costs were not deductible for income tax purposes. Now that the transaction has been terminated, more of the previously incurred transaction costs are deductible so it has recorded additional tax benefits from these costs in 2019. See Note 16 for discussion of shareholder lawsuits filed against the Company, the Company’s directors, Hydro One, Olympus Holding Corp., and Olympus Corp. in relation to the Merger Agreement and the proposed acquisition. |
Sale of METALfx Sale of METALfx
Sale of METALfx Sale of METALfx (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Assets Held for Sale [Abstract] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | SALE OF METALfx In April 2019, Bay Area Manufacturing, Inc., a non-regulated subsidiary of Avista Corp., entered into a definitive agreement to sell its interest in METALfx to an independent third party. The transaction was a stock sale for a total cash purchase price of $17.5 million plus cash on-hand, subject to customary closing adjustments. The transaction closed on April 18, 2019, and as of that date the Company has no further involvement with METALfx. The purchase price of $17.5 million , as adjusted, was divided among the security holders of METALfx, including the minority shareholder, pro rata based on ownership (Avista Corp. owned 89.2 percent of the equity of METALfx). As required under the purchase agreement, $1.2 million ( 7 percent of the purchase price) will be held in escrow for 24 months from the closing of the transaction to satisfy certain indemnification obligations. When all escrow amounts are released, the sales transaction is expected to provide cash proceeds to Avista Corp., net of payments to the minority holder, contractually obligated compensation payments and other transaction expenses, of $16.5 million and result in a net gain after-tax of $2.3 million . The Company expects to receive the full amount of its portion of the escrow accounts; therefore, the full amounts are included in the gain calculation. The gross gain is included in "Other income," the transaction expenses paid are included in "Non-utility Other operating expenses" and any taxes associated with the sale are included in "Income tax expense" on the Condensed Consolidated Statements of Income. Prior to the completion of the sales transaction, METALfx was not a reportable business segment and was included in other in the business segment footnote at Note 17. This transaction does not meet the criteria for discontinued operations as it does not represent a strategic shift that will have a major effect on the Company's ongoing operations, |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2019 | |
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 its 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 the Company's Noxon Rapids generating facility. AERC is a wholly-owned subsidiary of Avista Corp. The primary subsidiary of AERC is AEL&P, which comprises Avista Corp.'s regulated utility operations in Alaska. 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., which is a subsidiary of AERC. See Note 17 for business segment information. See Note 19 for discussion of the sale of METALfx, an unregulated subsidiary of the Company. |
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. |
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 WUTC and the 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. Realized benefits and costs result in adjustments to retail rates through PGAs, the ERM in Washington, the PCA mechanism in Idaho, and periodic general rate cases. The resulting regulatory assets associated with energy commodity derivative instruments have been concluded to be probable of 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, Avista Corp. records all mark-to-market gains and losses in each accounting period as assets and liabilities, as well as 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 swap derivatives, the cash payments made or received are recorded as a regulatory asset or liability and are subsequently amortized as a component of interest expense over the life of the associated debt. The settled interest rate swap derivatives are also included as a part of Avista Corp.'s cost of debt calculation for ratemaking purposes. 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). 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 swaps and foreign currency exchange contracts, are reported at estimated fair value on the Condensed Consolidated Balance Sheets. See Note 12 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 loss contingencies that do not meet these conditions for accrual if there is a reasonable possibility that a material loss may be incurred. See Note 16 for further discussion of the Company's commitments and contingencies. Reclassification to Comply with Required FERC Regulatory Reporting During the third quarter of 2019, the FERC completed an audit of Avista Corp. that covered the period January 1, 2015 through December 31, 2018. Avista Corp.’s AFUDC rate, which is prescribed by state regulatory authorities, is different than the FERC approved method for calculating AFUDC. The FERC indicated that the difference in rates should be recorded as a regulatory asset rather than utility plant. At the conclusion of the audit, the FERC required Avista Corp. to reclass the excess AFUDC from Net utility plant to Non-current regulatory assets for the period January 1, 2010 (the effective date of the Company’s current fixed transmission rates) to the present. As a result of this finding, Avista Corp. reclassed approximately $37 million from Net utility plant to Non-current regulatory assets as of September 30, 2019, which represents the cumulative adjustment for 2010 through 2017. The Company recorded the difference in AFUDC rates for 2018 and 2019 as a regulatory asset in the respective periods incurred. The Company did not adjust prior period Condensed Consolidated Balances Sheets as the FERC required the adjustment to be reflected on a cumulative basis at the end of the audit and required the AFUDC calculation to be modified on a prospective basis. The Company concluded that the differences were insignificant during each prior period and on a cumulative basis. The adjustment recorded during the third quarter 2019 had no effect on net income or earnings per share. |
Balance Sheet Components Bala_2
Balance Sheet Components Balance Sheet Components (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Balance Sheet Related Disclosures [Abstract] | |
Inventory, Policy [Policy Text Block] | 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 market for our non-regulated operations and consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Materials and supplies $ 46,721 $ 47,403 Fuel stock 5,522 4,869 Stored natural gas 15,489 11,609 Total $ 67,732 $ 63,881 |
Revenue Revenue (Policies)
Revenue Revenue (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition, Policy [Policy Text Block] | Utility Revenues Revenue from Contracts with Customers General The majority of Avista Corp.’s revenue is from rate-regulated sales of electricity and natural gas to retail customers, which has two performance obligations, (1) having service available for a specified period (typically a month at a time) and (2) the delivery of energy to customers. The total energy price generally has a fixed component (basic charge) related to having service available and a usage-based component, related to the delivery and consumption of energy. The commodity is sold and/or delivered to and consumed by the customer simultaneously, and the provisions of the relevant utility commission authorization determine the charges the Company may bill the customer. Given that all revenue recognition criteria are met upon the delivery of energy to customers, revenue is recognized immediately at that time. Revenues from contracts with customers are presented in the Condensed Consolidated Statements of Income in the line item "Utility revenues, exclusive of alternative revenue programs." Non-Derivative Wholesale Contracts The Company has certain wholesale contracts which are not accounted for as derivatives and, accordingly, are within the scope of ASC 606 and considered revenue from contracts with customers. Revenue is recognized as energy is delivered to the customer or the service is available for a specified period of time, consistent with the discussion of rate-regulated sales above. Alternative Revenue Programs (Decoupling) ASC 606 retained existing GAAP associated with alternative revenue programs, which specified that alternative revenue programs are contracts between an entity and a regulator of utilities, not a contract between an entity and a customer. GAAP requires that an entity present revenue arising from alternative revenue programs separately from revenues arising from contracts with customers on the face of the Condensed Consolidated Statements of Income. The Company's decoupling mechanisms (also known as a FCA in Idaho) qualify as alternative revenue programs. Decoupling revenue deferrals are recognized in the Condensed Consolidated Statements of Income during the period they occur (i.e. during the period of revenue shortfall or excess due to fluctuations in customer usage), subject to certain limitations, and a regulatory asset or liability is established that will be surcharged or rebated to customers in future periods. GAAP requires that for any alternative revenue program, like decoupling, the revenue must be expected to be collected from customers within 24 months of the deferral to qualify for recognition in the current period Condensed Consolidated Statement of Income. Any amounts included in the Company's decoupling program that are not expected to be collected from customers within 24 months are not recorded in the financial statements until the period in which revenue recognition criteria are met. The amounts expected to be collected from customers within 24 months represents an estimate that must be made by the Company on an ongoing basis due to it being based on the volumes of electric and natural gas sold to customers on a go-forward basis. Derivative Revenue Most wholesale electric and natural gas transactions (including both physical and financial transactions), and the sale of fuel are considered derivatives, which are specifically scoped out of ASC 606. As such, these revenues are disclosed separately from revenue from contracts with customers. Revenue is recognized for these items upon the settlement/expiration of the derivative contract. Derivative revenue includes those transactions that are entered into and settled within the same month. Other Utility Revenue Other utility revenue includes rent, revenues from the lineman training school, sales of materials, late fees and other charges that do not represent contracts with customers. Other utility revenue also includes the provision for earnings sharing and the deferral and amortization of refunds to customers associated with the TCJA. This revenue is scoped out of ASC 606, as this revenue does not represent items where a customer is a party that has contracted with the Company to obtain goods or services that are an output of the Company’s ordinary activities in exchange for consideration. As such, these revenues are presented separately from revenue from contracts with customers. Other Considerations for Utility Revenues Gross Versus Net Presentation Revenues and resource costs from Avista Utilities’ settled energy contracts that are “booked out” (not physically delivered) are reported on a net basis as part of derivative revenues. Utility-related taxes collected from customers (primarily state excise taxes and city utility taxes) are taxes that are imposed on Avista Utilities as opposed to being imposed on its customers; therefore, Avista Utilities is the taxpayer and records these transactions on a gross basis in revenue from contracts with customers and operating expense (taxes other than income taxes). The utility-related taxes collected from customers at AEL&P are imposed on the customers rather than AEL&P; therefore, the customers are the taxpayers and AEL&P is acting as their agent. As such, these transactions at AEL&P are presented on a net basis within revenue from contracts with customers. Utility-related taxes that were included in revenue from contracts with customers were as follows for the three and nine months ended September 30 (dollars in thousands): Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Utility-related taxes $ 11,867 $ 12,294 $ 43,644 $ 44,447 Non-Utility Revenues Revenue from Contracts with Customers Non-utility revenue from contracts with customers is derived from contracts with one performance obligation. Prior to its sale in April 2019 (See Note 19 for further discussion on the sale of METALfx), METALfx had one performance obligation, the delivery of a product, and revenues were recognized when the risk of loss transferred to the customer, which occurred when products were shipped. The Steam Plant Brew Pub serves food and beverages to customers, its one performance obligation, and recognizes revenues at the time of service to the customer. Significant Judgments and Unsatisfied Performance Obligations The only significant judgments involving revenue recognition are estimates surrounding unbilled revenue and receivables from contracts with customers and estimates surrounding the amount of decoupling revenues that will be collected from customers within 24 months (discussed above). The Company has certain capacity arrangements, where the Company has a contractual obligation to provide either electric or natural gas capacity to its customers for a fixed fee. Most of these arrangements are paid for in arrears by the customers and do not result in deferred revenue and only result in receivables from the customers. The Company does have one capacity agreement where the customer makes payments throughout the year and depending on the timing of the customer payments, it can result in an immaterial amount of deferred revenue or a receivable from the customer. As of September 30, 2019 , the Company estimates it had unsatisfied capacity performance obligations of $7.0 million , which will be recognized as revenue in future periods as the capacity is provided to the customers. These performance obligations are not reflected in the financial statements, as the Company has not received payment for these services. |
Revenue Recognition for Alternative Revenue Programs, Policy [Policy Text Block] | Alternative Revenue Programs (Decoupling) ASC 606 retained existing GAAP associated with alternative revenue programs, which specified that alternative revenue programs are contracts between an entity and a regulator of utilities, not a contract between an entity and a customer. GAAP requires that an entity present revenue arising from alternative revenue programs separately from revenues arising from contracts with customers on the face of the Condensed Consolidated Statements of Income. The Company's decoupling mechanisms (also known as a FCA in Idaho) qualify as alternative revenue programs. Decoupling revenue deferrals are recognized in the Condensed Consolidated Statements of Income during the period they occur (i.e. during the period of revenue shortfall or excess due to fluctuations in customer usage), subject to certain limitations, and a regulatory asset or liability is established that will be surcharged or rebated to customers in future periods. GAAP requires that for any alternative revenue program, like decoupling, the revenue must be expected to be collected from customers within 24 months of the deferral to qualify for recognition in the current period Condensed Consolidated Statement of Income. Any amounts included in the Company's decoupling program that are not expected to be collected from customers within 24 months are not recorded in the financial statements until the period in which revenue recognition criteria are met. The amounts expected to be collected from customers within 24 months represents an estimate that must be made by the Company on an ongoing basis due to it being based on the volumes of electric and natural gas sold to customers on a go-forward basis. |
Utility, Revenue and Expense Recognition, Policy [Policy Text Block] | Utility-related taxes collected from customers (primarily state excise taxes and city utility taxes) are taxes that are imposed on Avista Utilities as opposed to being imposed on its customers; therefore, Avista Utilities is the taxpayer and records these transactions on a gross basis in revenue from contracts with customers and operating expense (taxes other than income taxes). The utility-related taxes collected from customers at AEL&P are imposed on the customers rather than AEL&P; therefore, the customers are the taxpayers and AEL&P is acting as their agent. As such, these transactions at AEL&P are presented on a net basis within revenue from contracts with customers. Utility-related taxes that were included in revenue from contracts with customers were as follows for the three and nine months ended September 30 (dollars in thousands): Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Utility-related taxes $ 11,867 $ 12,294 $ 43,644 $ 44,447 |
Balance Sheet Components Bala_3
Balance Sheet Components Balance Sheet Components (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Balance Sheet Related Disclosures [Abstract] | |
Schedule of Other Current Assets [Table Text Block] | Other current assets consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Collateral posted for derivative instruments after netting with outstanding derivative liabilities $ 1,400 $ 26,809 Prepayments 19,377 17,536 Other 16,216 9,665 Total $ 36,993 $ 54,010 |
Schedule of Inventory, Current [Table Text Block] | 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 market for our non-regulated operations and consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Materials and supplies $ 46,721 $ 47,403 Fuel stock 5,522 4,869 Stored natural gas 15,489 11,609 Total $ 67,732 $ 63,881 |
Public Utility Property, Plant, and Equipment [Table Text Block] | Net utility property consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Utility plant in service $ 6,335,663 $ 6,209,968 Construction work in progress 185,167 160,598 Total 6,520,830 6,370,566 Less: Accumulated depreciation and amortization 1,793,816 1,721,636 Total net utility property $ 4,727,014 $ 4,648,930 |
Schedule of Other Current Assets [Table Text Block] | Other property and investments-net and other non-current assets consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Operating lease ROU assets $ 70,140 $ — Finance lease ROU assets 51,890 — Non-utility property 27,151 31,355 Equity investments 41,609 29,257 Investment in affiliated trust 11,547 11,547 Notes receivable 15,751 11,073 Deferred compensation assets 8,852 8,400 Other 21,943 23,065 Total $ 248,883 $ 114,697 |
Other Current Liabilities [Table Text Block] | Other current liabilities consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Accrued taxes other than income taxes $ 35,618 $ 36,858 Employee paid time off accruals 21,693 20,992 Accrued interest 30,157 16,704 Current portion of pensions and other postretirement benefits 8,826 9,151 Derivative liabilities 3,109 3,908 Other current liabilities 30,686 32,745 Total other current liabilities $ 130,089 $ 120,358 |
Other Noncurrent Liabilities [Table Text Block] | Other non-current liabilities and deferred credits consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Operating lease liabilities $ 68,925 $ — Finance lease liabilities 52,450 — Deferred investment tax credits 30,639 29,725 Asset retirement obligations 18,071 18,266 Derivative liabilities 46,050 10,300 Other 13,204 12,740 Total $ 229,339 $ 71,031 |
Schedule Of Regulated Asset And Liability [Table Text Block] | Regulatory assets and liabilities consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, 2019 December 31, 2018 Current Non-Current Current Non-Current Regulatory Assets Energy commodity derivatives $ 6,374 $ 1,018 $ 41,428 $ 16,866 Decoupling surcharge 10,266 18,395 3,408 17,501 Pension and other postretirement benefit plans — 218,006 — 228,062 Interest rate swaps — 189,872 — 133,854 Deferred income taxes — 93,818 — 91,188 Settlement with Coeur d'Alene Tribe — 41,660 — 42,643 AFUDC above FERC allowed rate (1) — 37,239 — 1,814 Demand side management programs — 11,701 — 19,674 Utility plant to be abandoned — 25,849 — 24,334 Other regulatory assets 3,250 51,256 3,716 38,418 Total regulatory assets $ 19,890 $ 688,814 $ 48,552 $ 614,354 Regulatory Liabilities Income tax related liabilities $ 23,409 $ 414,857 $ 27,997 $ 425,613 Deferred natural gas costs 3,762 — 40,713 — Deferral power costs 7,711 29,618 25,072 16,933 Decoupling rebate 99 3,098 6,782 204 Utility plant retirement costs — 307,923 — 297,379 Interest rate swaps — 16,863 — 28,078 Other regulatory liabilities 8,461 13,772 12,645 12,494 Total regulatory liabilities $ 43,442 $ 786,131 $ 113,209 $ 780,701 (1) See Note 1 for a description of a reclassification associated with this regulatory asset. |
Revenue Revenue (Tables)
Revenue Revenue (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue [Table Text Block] | Disaggregation of Total Operating Revenue The following table disaggregates total operating revenue by segment and source for the three and nine months ended September 30 (dollars in thousands): Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Avista Utilities Revenue from contracts with customers $ 234,534 $ 242,098 $ 820,438 $ 835,373 Derivative revenues 33,372 32,718 99,628 147,467 Alternative revenue programs 6,038 606 11,105 (1,763 ) Deferrals and amortizations for rate refunds to customers (927 ) 2,922 3,720 (16,900 ) Other utility revenues 1,914 1,205 7,550 6,348 Total Avista Utilities 274,931 279,549 942,441 970,525 AEL&P Revenue from contracts with customers 7,687 9,599 27,043 35,008 Deferrals and amortizations for rate refunds to customers (48 ) (156 ) (143 ) (1,705 ) Other utility revenues 151 127 514 412 Total AEL&P 7,790 9,570 27,414 33,715 Other Revenue from contracts with customers 731 6,580 10,402 19,633 Other revenues 318 314 806 799 Total other 1,049 6,894 11,208 20,432 Total operating revenues $ 283,770 $ 296,013 $ 981,063 $ 1,024,672 Utility Revenue from Contracts with Customers by Type and Service The following table disaggregates revenue from contracts with customers associated with the Company's utility operations for the three and nine months ended September 30 (dollars in thousands): 2019 2018 Avista Utilities AEL&P Total Utility Avista Utilities AEL&P Total Utility Three months ended September 30: ELECTRIC OPERATIONS Revenue from contracts with customers Residential $ 78,548 $ 2,764 $ 81,312 $ 82,470 $ 2,987 $ 85,457 Commercial and governmental 81,352 4,857 86,209 80,744 6,546 87,290 Industrial 28,453 — 28,453 30,806 — 30,806 Public street and highway lighting 1,849 66 1,915 1,860 66 1,926 Total retail revenue 190,202 7,687 197,889 195,880 9,599 205,479 Transmission 4,058 — 4,058 4,832 — 4,832 Other revenue from contracts with customers 5,860 — 5,860 8,564 — 8,564 Total revenue from contracts with customers $ 200,120 $ 7,687 $ 207,807 $ 209,276 $ 9,599 $ 218,875 NATURAL GAS OPERATIONS Revenue from contracts with customers Residential $ 20,271 $ — $ 20,271 $ 19,248 $ — $ 19,248 Commercial 10,093 — 10,093 9,436 — 9,436 Industrial and interruptible 1,000 — 1,000 1,006 — 1,006 Total retail revenue 31,364 — 31,364 29,690 — 29,690 Transportation 1,925 — 1,925 2,007 — 2,007 Other revenue from contracts with customers 1,125 — 1,125 1,125 — 1,125 Total revenue from contracts with customers $ 34,414 $ — $ 34,414 $ 32,822 $ — $ 32,822 Nine months ended September 30: ELECTRIC OPERATIONS Revenue from contracts with customers Residential $ 266,826 $ 12,340 $ 279,166 $ 272,041 $ 13,680 $ 285,721 Commercial and governmental 236,973 14,515 251,488 236,115 21,131 257,246 Industrial 79,946 — 79,946 83,910 — 83,910 Public street and highway lighting 5,648 188 5,836 5,618 197 5,815 Total retail revenue 589,393 27,043 616,436 597,684 35,008 632,692 Transmission 13,460 — 13,460 12,833 — 12,833 Other revenue from contracts with customers 18,433 — 18,433 18,774 — 18,774 Total electric revenue from contracts with customers $ 621,286 $ 27,043 $ 648,329 $ 629,291 $ 35,008 $ 664,299 2019 2018 Avista Utilities AEL&P Total Utility Avista Utilities AEL&P Total Utility NATURAL GAS OPERATIONS Revenue from contracts with customers Residential $ 125,543 $ — $ 125,543 $ 130,668 $ — $ 130,668 Commercial 60,056 — 60,056 61,477 — 61,477 Industrial and interruptible 3,730 — 3,730 3,767 — 3,767 Total retail revenue 189,329 — 189,329 195,912 — 195,912 Transportation 6,448 — 6,448 6,795 — 6,795 Other revenue from contracts with customers 3,375 — 3,375 3,375 — 3,375 Total natural gas revenue from contracts with customers $ 199,152 $ — $ 199,152 $ 206,082 $ — $ 206,082 |
Schedule Of Utilities Operating Revenue Expense Taxes [Table Text Block] | Utility-related taxes that were included in revenue from contracts with customers were as follows for the three and nine months ended September 30 (dollars in thousands): Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Utility-related taxes $ 11,867 $ 12,294 $ 43,644 $ 44,447 |
Leases Leases (Tables)
Leases Leases (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Lease, Cost [Table Text Block] | The components of lease expense were as follows for the three and nine months ended September 30 , 2019 (dollars in thousands): Three months ended September 30, 2019 Nine months ended September 30, 2019 Operating lease cost: Fixed lease cost (Other operating expenses) $ 1,109 $ 3,318 Variable lease cost (Other operating expenses) 248 735 Total operating lease cost $ 1,357 $ 4,053 Finance lease cost: Amortization of ROU asset (Depreciation and amortization) $ 911 $ 2,731 Interest on lease liabilities (Interest expense) 698 2,096 Total finance lease cost $ 1,609 $ 4,827 |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Supplemental cash flow information related to leases was as follows for the nine months ended September 30 (dollars in thousands): 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows: Operating lease payments $ 4,311 Interest on finance lease 2,096 Total operating cash outflows $ 6,407 Finance cash outflows: Principal payments on finance lease $ 1,995 |
Supplemental Balance Sheet Information Leases [Table Text Block] | Supplemental balance sheet information related to leases was as follows for September 30, 2019 (dollars in thousands): September 30, 2019 Operating Leases Operating lease ROU assets (Other property and investments-net and other non-current assets) $ 70,140 Other current liabilities $ 4,119 Other non-current liabilities and deferred credits 68,925 Total operating lease liabilities $ 73,044 Finance Leases Finance lease ROU assets (Other property and investments-net and other non-current assets) (a) $ 51,890 Other current liabilities (b) $ 2,765 Other non-current liabilities and deferred credits (b) 52,450 Total finance lease liabilities $ 55,215 Weighted Average Remaining Lease Term Operating leases 26.81 years Finance leases 8.13 years Weighted Average Discount Rate Operating leases 3.82 % Finance leases 4.71 % (a) At December 31, 2018, the finance lease ROU assets were included in "Net utility property" on the Condensed Consolidated Balance Sheet. Due to the adoption of ASC 842 on January 1, 2019, the Company has reclassified these amounts to "Other property and investments-net and other non-current assets" on the Condensed Consolidated Balance Sheet such that their presentation as of September 30, 2019 is consistent with operating leases. (b) At December 31, 2018, the finance lease liabilities were included in "Current portion of long-term debt" and "Long-term debt and capital leases" on the Condensed Consolidated Balance Sheet. Due to the adoption of ASC 842 on January 1, 2019, the Company has reclassified these amounts to "Other current liabilities" and "Other non-current liabilities and deferred credits" on the Condensed Consolidated Balance Sheet such that their presentation as of September 30, 2019 is consistent with operating leases. |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturities of lease liabilities (including principal and interest) were as follows as of September 30, 2019 (dollars in thousands): Operating Leases Finance Leases Remainder 2019 $ 4,063 $ 1,363 2020 4,371 5,462 2021 4,374 5,457 2022 4,385 5,460 2023 4,398 5,456 Thereafter 96,056 54,574 Total lease payments $ 117,647 $ 77,772 Less: imputed interest (44,603 ) (22,557 ) Total $ 73,044 $ 55,215 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Future minimum lease payments (including principal and interest) under Topic 840 as of December 31, 2018 (dollars in thousands): Operating Leases Finance Leases 2019 $ 4,995 $ 5,455 2020 4,876 5,462 2021 4,859 5,457 2022 4,782 5,460 2023 4,780 5,456 Thereafter 102,389 54,574 Total lease payments $ 126,681 $ 81,864 Less: imputed interest — (24,654 ) Total $ 126,681 $ 57,210 |
Finance Lease, Liability, Maturity [Table Text Block] | Maturities of lease liabilities (including principal and interest) were as follows as of September 30, 2019 (dollars in thousands): Operating Leases Finance Leases Remainder 2019 $ 4,063 $ 1,363 2020 4,371 5,462 2021 4,374 5,457 2022 4,385 5,460 2023 4,398 5,456 Thereafter 96,056 54,574 Total lease payments $ 117,647 $ 77,772 Less: imputed interest (44,603 ) (22,557 ) Total $ 73,044 $ 55,215 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Future minimum lease payments (including principal and interest) under Topic 840 as of December 31, 2018 (dollars in thousands): Operating Leases Finance Leases 2019 $ 4,995 $ 5,455 2020 4,876 5,462 2021 4,859 5,457 2022 4,782 5,460 2023 4,780 5,456 Thereafter 102,389 54,574 Total lease payments $ 126,681 $ 81,864 Less: imputed interest — (24,654 ) Total $ 126,681 $ 57,210 |
Derivatives And Risk Manageme_2
Derivatives And Risk Management (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments and Hedges, Assets [Abstract] | |
Energy Commodity Derivatives | The following table presents the underlying energy commodity derivative volumes as of September 30, 2019 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) Remainder 2019 2 420 4,208 33,788 37 696 1,166 15,878 2020 — 422 1,138 65,360 123 1,107 1,430 33,215 2021 — — 153 21,280 — 246 1,040 9,475 2022 — — 225 3,150 — — — — 2023 — — — — — — — — Thereafter — — — — — — — — The following table presents the underlying energy commodity derivative volumes as of December 31, 2018 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) Financial (1) Physical (1) Financial (1) Physical (1) Financial (1) Physical (1) Financial (1) 2019 206 941 10,732 101,293 197 2,790 2,909 54,418 2020 — — 1,138 47,225 123 959 1,430 14,625 2021 — — — 9,670 — — 1,049 4,100 2022 — — — — — — — — 2023 — — — — — — — — Thereafter — — — — — — — — |
Foreign Currency Exchange Contracts | The following table summarizes the foreign currency exchange derivatives that Avista Corp. has outstanding as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Number of contracts 27 31 Notional amount (in United States dollars) $ 3,366 $ 4,018 Notional amount (in Canadian dollars) 4,460 5,386 |
Interest Rate Swap Agreements | The following table summarizes the unsettled interest rate swap derivatives that Avista Corp. has outstanding as of September 30, 2019 and December 31, 2018 (dollars in thousands): Balance Sheet Date Number of Contracts Notional Amount Mandatory Cash Settlement Date September 30, 2019 7 $ 70,000 2020 3 35,000 2021 10 110,000 2022 December 31, 2018 6 $ 70,000 2019 6 60,000 2020 2 25,000 2021 7 80,000 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, 2019 (in thousands): Fair Value Derivative and Balance Sheet Location Gross Asset Gross Liability Collateral Netted Net Asset (Liability) on Balance Sheet Foreign currency exchange derivatives Other current liabilities $ — $ (21 ) $ — $ (21 ) Interest rate swap derivatives Other non-current liabilities and deferred credits — (53,271 ) 8,880 (44,391 ) Energy commodity derivatives Other current assets 677 (437 ) — 240 Other property and investments-net and other non-current assets 4,127 (3,486 ) — 641 Other current liabilities 27,506 (34,120 ) 3,505 (3,109 ) Other non-current liabilities and deferred credits 3,285 (4,943 ) — (1,658 ) Total derivative instruments recorded on the balance sheet $ 35,595 $ (96,278 ) $ 12,385 $ (48,298 ) The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of December 31, 2018 (in thousands): Fair Value Derivative and Balance Sheet Location Gross Asset Gross Liability Collateral Net Asset Foreign currency exchange derivatives Other current liabilities $ — $ (45 ) $ — $ (45 ) Interest rate swap derivatives Other current assets 5,283 — — 5,283 Other property and investments-net and other non-current assets 5,283 (440 ) — 4,843 Other non-current liabilities and deferred credits — (7,391 ) 530 (6,861 ) Energy commodity derivatives Other current assets 400 (130 ) — 270 Other current liabilities 31,457 (73,155 ) 37,790 (3,908 ) Other non-current liabilities and deferred credits 4,426 (21,292 ) 13,427 (3,439 ) Total derivative instruments recorded on the balance sheet $ 46,849 $ (102,453 ) $ 51,747 $ (3,857 ) |
Schedule of Assets Pledged as Collateral and Related Offsets [Table Text Block] | The following table presents Avista Corp.'s collateral outstanding related to its derivative instruments as of September 30, 2019 and December 31, 2018 (in thousands): September 30, December 31, 2019 2018 Energy commodity derivatives Cash collateral posted $ 4,906 $ 78,025 Letters of credit outstanding 9,500 6,500 Balance sheet offsetting (cash collateral against net derivative positions) 3,505 51,217 Interest rate swap derivatives Cash collateral posted 8,880 530 Balance sheet offsetting (cash collateral against net derivative positions) 8,880 530 Certain of Avista Corp.’s derivative instruments contain provisions that require Avista Corp. to maintain an "investment grade" credit rating from the major credit rating agencies. If Avista Corp.’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 Avista Corp. could be required to post as of September 30, 2019 and December 31, 2018 (in thousands): September 30, December 31, 2019 2018 Energy commodity derivatives Liabilities with credit-risk-related contingent features $ 1,345 $ 2,193 Additional collateral to post 1,339 2,193 Interest rate swap derivatives Liabilities with credit-risk-related contingent features 53,271 7,831 Additional collateral to post 44,391 6,579 |
Pension Plans And Other Postr_2
Pension Plans And Other Postretirement Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Components of Net Periodic Benefit Cost | Pension Benefits Other Postretirement Benefits 2019 2018 2019 2018 Three months ended September 30: Service cost $ 4,948 $ 5,318 $ 754 $ 815 Interest cost 7,134 6,634 1,140 1,261 Expected return on plan assets (7,913 ) (8,101 ) (616 ) (550 ) Amortization of prior service cost 75 71 (275 ) (299 ) Net loss recognition 2,553 1,761 1,299 1,044 Net periodic benefit cost $ 6,797 $ 5,683 $ 2,302 $ 2,271 Nine months ended September 30: Service cost $ 14,770 $ 16,218 $ 2,279 $ 2,423 Interest cost 21,372 19,566 3,676 3,655 Expected return on plan assets (23,681 ) (24,601 ) (1,945 ) (1,550 ) Amortization of prior service cost 225 221 (825 ) (905 ) Net loss recognition 7,394 5,691 3,874 3,261 Net periodic benefit cost $ 20,080 $ 17,095 $ 7,059 $ 6,884 Total service costs in the table above are recorded to the same accounts as labor expense. Labor and benefits expense is recorded to various projects based on whether the work is a capital project or an operating expense. Approximately 40 percent of all labor and benefits is capitalized to utility property and 60 percent is expensed to utility other operating expenses. |
Income Taxes Income Taxes (Tabl
Income Taxes Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The following table summarizes the significant factors impacting the difference between our effective tax rate and the federal statutory rate for the three and nine months ended September 30 (dollars in thousands): Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 Federal income taxes at statutory rates $ 1,041 21.0 % $ 2,452 21.0 % $ 36,554 21.0 % $ 22,721 21.0 % Increase (decrease) in tax resulting from: Tax effect of regulatory treatment of utility plant differences (2,139 ) (43.1 ) (1,521 ) (13.0 ) (6,358 ) (3.7 ) (4,519 ) (4.2 ) State income tax expense (800 ) (16.1 ) (319 ) (2.7 ) 851 0.5 694 0.6 Settlement of prior year tax returns and adjustment of tax reserves (604 ) (12.2 ) (136 ) (1.1 ) 1,995 1.1 (136 ) (0.1 ) Acquisition costs — — 122 1.0 (1,712 ) (1.0 ) 241 0.2 Non-plant excess deferred turnaround (1) (20 ) (0.4 ) — — (5,621 ) (3.2 ) — — Tax loss on sale of METALfx (13 ) (0.2 ) — — (1,272 ) (0.7 ) — — Valuation allowance — — — — 1,245 0.7 — — Settlement of equity awards — — — — 612 0.4 (990 ) (0.9 ) Other 2,404 48.4 950 8.1 1,851 1.1 (544 ) (0.5 ) Total income tax expense (benefit) $ (131 ) (2.6 )% $ 1,548 13.3 % $ 28,145 16.2 % $ 17,467 16.1 % (1) In March 2019, the IPUC approved an all-party settlement agreement related to electric tax benefits that were set aside for Colstrip in the 2017 general rate case order. In the approved settlement agreement, the parties agreed to utilize approximately $6.4 million ( $5.1 million when tax-effected) of the electric tax benefits to offset costs associated with accelerating the depreciation of Colstrip Units 3 & 4, to reflect a remaining useful life of those units through December 31, 2027. In the second quarter 2019, the Company recorded a one-time charge to depreciation expense with an offsetting amount included in income tax expense. |
Committed Lines of Credit (Tabl
Committed Lines of Credit (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Short-term Debt [Abstract] | |
Schedule of Line of Credit Facilities [Table Text Block] | outstanding and interest rates of borrowings (excluding letters of credit) under the Company’s revolving committed line of credit were as follows as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Balance outstanding at end of period (1) $ 207,000 $ 190,000 Letters of credit outstanding at end of period $ 13,503 $ 10,503 Average interest rate at end of period 2.94 % 3.18 % |
Long- Term Debt to Affiliated_2
Long- Term Debt to Affiliated Trust Long-Term Debt to Affiliated Trust (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019 and the year ended December 31, 2018 : September 30, December 31, 2019 2018 Low distribution rate 3.01 % 2.36 % High distribution rate 3.40 % 3.61 % Distribution rate at the end of the period 3.01 % 3.61 % |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
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, 2019 (dollars in thousands): Fair Value (Net) at September 30, 2019 Valuation Technique Unobservable Input Range Natural gas exchange agreement $ (3,134 ) Internally derived Forward purchase prices $1.29 - $1.92/mmBTU Forward sales prices $1.44 - $3.65/mmBTU Purchase volumes 125,000 - 310,000 mmBTUs Sales volumes 60,000 - 310,000 mmBTUs |
Fair Value of Assets And Liabilities Measured on Recurring Basis | Level 1 Level 2 Level 3 Counterparty Total September 30, 2019 Assets: Energy commodity derivatives $ — $ 35,552 $ — $ (34,671 ) $ 881 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 43 (43 ) — Deferred compensation assets: Mutual Funds: Fixed income securities (2) 1,818 — — — 1,818 Equity securities (2) 6,591 — — — 6,591 Total $ 8,409 $ 35,552 $ 43 $ (34,714 ) $ 9,290 Liabilities: Energy commodity derivatives $ — $ 39,809 $ — $ (38,176 ) $ 1,633 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 3,177 (43 ) 3,134 Foreign currency exchange derivatives — 21 — — 21 Interest rate swap derivatives — 53,271 — (8,880 ) 44,391 Total $ — $ 93,101 $ 3,177 $ (47,099 ) $ 49,179 Level 1 Level 2 Level 3 Counterparty Total December 31, 2018 Assets: Energy commodity derivatives $ — $ 36,252 $ — $ (35,982 ) $ 270 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 31 (31 ) — Interest rate swap derivatives — 10,566 — (440 ) 10,126 Deferred compensation assets: Mutual Funds: Fixed income securities (2) 1,745 — — — 1,745 Equity securities (2) 6,157 — — — 6,157 Total $ 7,902 $ 46,818 $ 31 $ (36,453 ) $ 18,298 Liabilities: Energy commodity derivatives $ — $ 89,283 $ — $ (87,199 ) $ 2,084 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 2,805 (31 ) 2,774 Power exchange agreement — — 2,488 — 2,488 Power option agreement — — 1 — 1 Foreign currency exchange derivatives — 45 — — 45 Interest rate swap derivatives — 7,831 — (970 ) 6,861 Total $ — $ 97,159 $ 5,294 $ (88,200 ) $ 14,253 (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 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 Total Three months ended September 30, 2019: Balance as of July 1, 2019 $ (2,992 ) $ — $ (2,992 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) (133 ) — (133 ) Settlements (9 ) — (9 ) Ending balance as of September 30, 2019 (2) $ (3,134 ) $ — $ (3,134 ) Natural Gas Exchange Agreement Power Exchange Agreement Total Three months ended September 30, 2018: Balance as of July 1, 2018 $ (3,480 ) $ (6,345 ) $ (9,825 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) 476 436 912 Settlements — — — Ending balance as of September 30, 2018 (2) $ (3,004 ) $ (5,909 ) $ (8,913 ) Nine months ended September 30, 2019: Balance as of January 1, 2019 $ (2,774 ) $ (2,488 ) $ (5,262 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) 8,015 436 8,451 Settlements (8,375 ) 2,052 (6,323 ) Ending balance as of September 30, 2019 (2) $ (3,134 ) $ — $ (3,134 ) Nine months ended September 30, 2018: Balance as of January 1, 2018 $ (3,164 ) $ (13,245 ) $ (16,409 ) Total gains or (losses) (realized/unrealized): Included in regulatory assets/liabilities (1) (89 ) 1,156 1,067 Settlements 249 6,180 6,429 Ending balance as of September 30, 2018 (2) $ (3,004 ) $ (5,909 ) $ (8,913 ) (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. |
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, 2019 and December 31, 2018 (dollars in thousands): September 30, 2019 December 31, 2018 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Long-term debt (Level 2) $ 1,053,500 $ 1,244,252 $ 1,053,500 $ 1,142,292 Long-term debt (Level 3) 767,000 855,530 767,000 734,742 Snettisham finance lease obligation (Level 3) 55,215 58,900 57,210 55,600 Long-term debt to affiliated trusts (Level 3) 51,547 40,207 51,547 38,145 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Accumulated other comprehensive loss, net of tax, consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands): September 30, December 31, 2019 2018 Unfunded benefit obligation for pensions and other postretirement benefit plans - net of taxes of $1,963 and $2,091, respectively $ 7,383 $ 7,866 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | The following table details the reclassifications out of accumulated other comprehensive loss to net income by component for the three and nine months ended September 30 (dollars in thousands). Amounts Reclassified from Accumulated Other Comprehensive Loss Three months ended September 30, Nine months ended September 30, Details about Accumulated Other Comprehensive Loss Components 2019 2018 2019 2018 Affected Line Item in Statement of Income Amortization of defined benefit pension items Amortization of net prior service cost $ (200 ) $ (228 ) $ (600 ) $ (684 ) (a) Amortization of net loss 3,852 2,962 11,268 8,952 (a) Adjustment due to effects of regulation (3,447 ) (2,476 ) (10,057 ) (7,493 ) (a) 205 258 611 775 Total before tax (43 ) (54 ) (128 ) (163 ) Tax expense $ 162 $ 204 $ 483 $ 612 Net of tax (a) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 7 for additional details). |
Earnings Per Common Share Att_2
Earnings Per Common Share Attributable To Avista Corporation (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Computations Of Earnings Per Share | 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 September 30, Nine months ended September 30, 2019 2018 2019 2018 Numerator: Net income attributable to Avista Corp. shareholders $ 5,090 $ 10,119 $ 146,203 $ 90,586 Denominator: Weighted-average number of common shares outstanding-basic 66,265 65,688 65,964 65,668 Effect of dilutive securities: Performance and restricted stock awards 86 338 86 312 Weighted-average number of common shares outstanding-diluted 66,351 66,026 66,050 65,980 Earnings per common share attributable to Avista Corp. shareholders: Basic $ 0.08 $ 0.15 $ 2.22 $ 1.38 Diluted $ 0.08 $ 0.15 $ 2.21 $ 1.37 |
Information By Business Segme_2
Information By Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019: Operating revenues $ 274,931 $ 7,790 $ 282,721 $ 1,049 $ — $ 283,770 Resource costs 98,397 (73 ) 98,324 — — 98,324 Other operating expenses (2) 76,749 3,363 80,112 1,450 — 81,562 Depreciation and amortization 47,631 2,421 50,052 134 — 50,186 Income (loss) from operations 28,998 1,780 30,778 (535 ) — 30,243 Interest expense (3) 24,634 1,596 26,230 149 (186 ) 26,193 Income taxes 125 82 207 (338 ) — (131 ) Net income (loss) attributable to Avista Corp. shareholders 5,966 197 6,163 (1,073 ) — 5,090 Capital expenditures (4) 118,141 2,836 120,977 920 — 121,897 For the three months ended September 30, 2018: Operating revenues $ 279,549 $ 9,570 $ 289,119 $ 6,894 $ — $ 296,013 Resource costs 98,461 3,058 101,519 — — 101,519 Other operating expenses (2) (5) 76,355 3,005 79,360 7,347 — 86,707 Depreciation and amortization 44,569 1,466 46,035 207 — 46,242 Income (loss) from operations (5) 35,317 1,787 37,104 (660 ) — 36,444 Interest expense (3) 23,560 896 24,456 462 (313 ) 24,605 Income taxes 2,564 188 2,752 (1,204 ) — 1,548 Net income (loss) attributable to Avista Corp. shareholders 11,935 824 12,759 (2,640 ) — 10,119 Capital expenditures (4) 108,907 4,176 113,083 257 — 113,340 For the nine months ended September 30, 2019: Operating revenues $ 942,441 $ 27,414 $ 969,855 $ 11,208 $ — $ 981,063 Resource costs 325,615 (1,505 ) 324,110 — — 324,110 Other operating expenses (2) 261,934 9,551 271,485 15,137 — 286,622 Depreciation and amortization 147,208 7,237 154,445 498 — 154,943 Income (loss) from operations 130,200 11,309 141,509 (4,427 ) — 137,082 Interest expense (3) 73,214 4,787 78,001 885 (823 ) 78,063 Income taxes 25,722 1,825 27,547 598 — 28,145 Net income attributable to Avista Corp. shareholders 139,086 4,825 143,911 2,292 — 146,203 Capital expenditures (4) 313,747 7,218 320,965 1,104 — 322,069 For the nine months ended September 30, 2018: Operating revenues $ 970,525 $ 33,715 $ 1,004,240 $ 20,432 $ — $ 1,024,672 Resource costs 353,148 8,958 362,106 — — 362,106 Other operating expenses (2) 230,342 9,049 239,391 20,714 — 260,105 Depreciation and amortization 132,022 4,397 136,419 587 — 137,006 Income (loss) from operations 174,310 10,488 184,798 (869 ) — 183,929 Interest expense (3) 71,953 2,686 74,639 1,179 (712 ) 75,106 Income taxes 17,716 2,098 19,814 (2,347 ) — 17,467 Net income (loss) attributable to Avista Corp. shareholders 91,727 5,878 97,605 (7,019 ) — 90,586 Capital expenditures (4) 288,046 8,169 296,215 809 — 297,024 Total Assets: As of September 30, 2019: $ 5,599,103 $ 275,618 $ 5,874,721 $ 107,386 $ (17,324 ) $ 5,964,783 As of December 31, 2018: $ 5,458,104 $ 272,950 $ 5,731,054 $ 87,050 $ (35,528 ) $ 5,782,576 (1) Intersegment eliminations reported as interest expense represent intercompany interest. (2) Other operating expenses for Avista Utilities for the three and nine months ended September 30 , 2019 and 2018 include merger transaction costs which are separately disclosed on the Condensed Consolidated Statements of Income. (3) Including interest expense to affiliated trusts. (4) The capital expenditures for the other businesses are included in other investing activities on the Condensed Consolidated Statements of Cash Flows. |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies Summary of Significant Accounting Policies (Details) $ in Millions | Sep. 30, 2019USD ($) |
AFUDC above FERC allowed rate (1) | |
Regulatory Assets [Line Items] | |
Reclassification of Prior Year Amounts to Comply with Regulatory Requirements | $ 37 |
New Accounting Standards New Ac
New Accounting Standards New Accounting Standards (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Document Period End Date | Sep. 30, 2019 | |||
AOCI Attributable to Parent [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Reclassification of excess income tax benefits | $ 0 | $ 0 | $ 0 | $ (1,742) |
Balance Sheet Components Materi
Balance Sheet Components Materials and Supplies, Fuel Stock and Stored Natural Gas (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Balance Sheet Related Disclosures [Abstract] | ||
Inventory, Raw Materials and Supplies, Gross | $ 46,721 | $ 47,403 |
Other Inventory, Gross | 5,522 | 4,869 |
Energy Related Inventory, Gas Stored Underground | 15,489 | 11,609 |
Inventory, Net | $ 67,732 | $ 63,881 |
Balance Sheet Components Other
Balance Sheet Components Other Current Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Balance Sheet Related Disclosures [Abstract] | ||
Collateral posted for derivative instruments after netting with outstanding derivative liabilities | $ 1,400 | $ 26,809 |
Prepayments | 19,377 | 17,536 |
Other | 16,216 | 9,665 |
Other Assets, Current | $ 36,993 | $ 54,010 |
Balance Sheet Components Net Ut
Balance Sheet Components Net Utility Property (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Balance Sheet Related Disclosures [Abstract] | ||
Utility plant in service | $ 6,335,663 | $ 6,209,968 |
Construction work in progress | 185,167 | 160,598 |
Total | 6,520,830 | 6,370,566 |
Less: Accumulated depreciation and amortization | 1,793,816 | 1,721,636 |
Total net utility property | $ 4,727,014 | $ 4,648,930 |
Balance Sheet Components Othe_2
Balance Sheet Components Other Property and Investments-Net and Non-current Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Balance Sheet Related Disclosures [Abstract] | ||
Operating Lease, Right-of-Use Asset | $ 70,140 | $ 0 |
Finance Lease, Right-of-Use Asset | 51,890 | 0 |
Non-utility property | 27,151 | 31,355 |
Equity investments | 41,609 | 29,257 |
Investment in affiliated trust | 11,547 | 11,547 |
Notes receivable | 15,751 | 11,073 |
Deferred compensation assets | 8,852 | 8,400 |
Other | 21,943 | 23,065 |
Investments and Other Noncurrent Assets | $ 248,883 | $ 114,697 |
Balance Sheet Components Othe_3
Balance Sheet Components Other Current Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Balance Sheet Related Disclosures [Abstract] | ||
Accrued taxes other than income taxes | $ 35,618 | $ 36,858 |
Employee paid time off accruals | 21,693 | 20,992 |
Accrued interest | 30,157 | 16,704 |
Current portion of pensions and other postretirement benefits | 8,826 | 9,151 |
Derivative liabilities | 3,109 | 3,908 |
Other current liabilities | 30,686 | 32,745 |
Other current liabilities | $ 130,089 | $ 120,358 |
Balance Sheet Components Othe_4
Balance Sheet Components Other Non-Current Liabilities and Deferred Credits (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Balance Sheet Related Disclosures [Abstract] | ||
Operating Lease, Liability, Noncurrent | $ 68,925 | $ 0 |
Finance Lease, Liability, Noncurrent | 52,450 | 0 |
Deferred investment tax credits | 30,639 | 29,725 |
Asset Retirement Obligation | 18,071 | 18,266 |
Derivative Liability, Noncurrent | 46,050 | 10,300 |
Other | 13,204 | 12,740 |
Other Liabilities, Noncurrent | $ 229,339 | $ 71,031 |
Balance Sheet Components Regula
Balance Sheet Components Regulatory Assets and Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Regulated Asset Liability [Line Items] | ||
Regulatory assets | $ 19,890 | $ 48,552 |
Regulatory Assets, Noncurrent | 688,814 | 614,354 |
Regulatory liabilities | 43,442 | 113,209 |
Non-current regulatory liabilities | 786,131 | 780,701 |
Income Tax Related | ||
Regulated Asset Liability [Line Items] | ||
Regulatory liabilities | 23,409 | 27,997 |
Non-current regulatory liabilities | 414,857 | 425,613 |
Natural Gas Deferrals [Member] | ||
Regulated Asset Liability [Line Items] | ||
Regulatory liabilities | 3,762 | 40,713 |
Non-current regulatory liabilities | 0 | 0 |
Power Deferrals Regulatory Liability [Member] | ||
Regulated Asset Liability [Line Items] | ||
Regulatory liabilities | 7,711 | 25,072 |
Non-current regulatory liabilities | 29,618 | 16,933 |
Decoupling surcharge | ||
Regulated Asset Liability [Line Items] | ||
Regulatory liabilities | 99 | 6,782 |
Non-current regulatory liabilities | 3,098 | 204 |
Removal Costs [Member] | ||
Regulated Asset Liability [Line Items] | ||
Regulatory liabilities | 0 | 0 |
Non-current regulatory liabilities | 307,923 | 297,379 |
Interest rate swaps | ||
Regulated Asset Liability [Line Items] | ||
Regulatory liabilities | 0 | 0 |
Non-current regulatory liabilities | 16,863 | 28,078 |
Other Regulatory Assets (Liabilities) [Member] | ||
Regulated Asset Liability [Line Items] | ||
Regulatory liabilities | 8,461 | 12,645 |
Non-current regulatory liabilities | 13,772 | 12,494 |
Energy commodity derivatives | ||
Regulated Asset Liability [Line Items] | ||
Regulatory assets | 6,374 | 41,428 |
Regulatory Assets, Noncurrent | 1,018 | 16,866 |
Decoupling surcharge | ||
Regulated Asset Liability [Line Items] | ||
Regulatory assets | 10,266 | 3,408 |
Regulatory Assets, Noncurrent | 18,395 | 17,501 |
Pension and other postretirement benefit plans | ||
Regulated Asset Liability [Line Items] | ||
Regulatory assets | 0 | 0 |
Regulatory Assets, Noncurrent | 218,006 | 228,062 |
Interest rate swaps | ||
Regulated Asset Liability [Line Items] | ||
Regulatory assets | 0 | 0 |
Regulatory Assets, Noncurrent | 189,872 | 133,854 |
Income Tax Related | ||
Regulated Asset Liability [Line Items] | ||
Regulatory assets | 0 | 0 |
Regulatory Assets, Noncurrent | 93,818 | 91,188 |
Settlement with Coeur d'Alene Tribe | ||
Regulated Asset Liability [Line Items] | ||
Regulatory assets | 0 | 0 |
Regulatory Assets, Noncurrent | 41,660 | 42,643 |
AFUDC above FERC allowed rate (1) | ||
Regulated Asset Liability [Line Items] | ||
Regulatory assets | 0 | 0 |
Regulatory Assets, Noncurrent | 37,239 | 1,814 |
Demand side management programs | ||
Regulated Asset Liability [Line Items] | ||
Regulatory assets | 0 | 0 |
Regulatory Assets, Noncurrent | 11,701 | 19,674 |
Utility plant to be abandoned | ||
Regulated Asset Liability [Line Items] | ||
Regulatory assets | 0 | 0 |
Regulatory Assets, Noncurrent | 25,849 | 24,334 |
Other Regulatory Assets (Liabilities) [Member] | ||
Regulated Asset Liability [Line Items] | ||
Regulatory assets | 3,250 | 3,716 |
Regulatory Assets, Noncurrent | $ 51,256 | $ 38,418 |
Revenue Revenue Utility Related
Revenue Revenue Utility Related Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | ||||
Public Utility Operating Expenses Excise Taxes Collected | $ 11,867 | $ 12,294 | $ 43,644 | $ 44,447 |
Revenue Revenue Unsatisfied Per
Revenue Revenue Unsatisfied Performance Obligations (Details) $ in Millions | Sep. 30, 2019USD ($) |
Revenue from Contract with Customer [Abstract] | |
Revenue, Remaining Performance Obligation, Amount | $ 7 |
Revenue Revenue Disaggregation
Revenue Revenue Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 283,770 | $ 296,013 | $ 981,063 | $ 1,024,672 |
Residential Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 81,312 | 85,457 | 279,166 | 285,721 |
Commercial and Governmental Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 86,209 | 87,290 | 251,488 | 257,246 |
Industrial Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 28,453 | 30,806 | 79,946 | 83,910 |
Public Street and Highway Lighting Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,915 | 1,926 | 5,836 | 5,815 |
Total Retail Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 197,889 | 205,479 | 616,436 | 632,692 |
Transmission Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 4,058 | 4,832 | 13,460 | 12,833 |
Other Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 5,860 | 8,564 | 18,433 | 18,774 |
Total Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 207,807 | 218,875 | 648,329 | 664,299 |
Residential Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 20,271 | 19,248 | 125,543 | 130,668 |
Commercial Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 10,093 | 9,436 | 60,056 | 61,477 |
Industrial and Interruptible Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,000 | 1,006 | 3,730 | 3,767 |
Total Retail Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 31,364 | 29,690 | 189,329 | 195,912 |
Transportation Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,925 | 2,007 | 6,448 | 6,795 |
Other Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,125 | 1,125 | 3,375 | 3,375 |
Total Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 34,414 | 32,822 | 199,152 | 206,082 |
Avista Utilities [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 274,931 | 279,549 | 942,441 | 970,525 |
Avista Utilities [Member] | Residential Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 78,548 | 82,470 | 266,826 | 272,041 |
Avista Utilities [Member] | Commercial and Governmental Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 81,352 | 80,744 | 236,973 | 236,115 |
Avista Utilities [Member] | Industrial Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 28,453 | 30,806 | 79,946 | 83,910 |
Avista Utilities [Member] | Public Street and Highway Lighting Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,849 | 1,860 | 5,648 | 5,618 |
Avista Utilities [Member] | Total Retail Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 190,202 | 195,880 | 589,393 | 597,684 |
Avista Utilities [Member] | Transmission Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 4,058 | 4,832 | 13,460 | 12,833 |
Avista Utilities [Member] | Other Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 5,860 | 8,564 | 18,433 | 18,774 |
Avista Utilities [Member] | Total Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 200,120 | 209,276 | 621,286 | 629,291 |
Avista Utilities [Member] | Residential Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 20,271 | 19,248 | 125,543 | 130,668 |
Avista Utilities [Member] | Commercial Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 10,093 | 9,436 | 60,056 | 61,477 |
Avista Utilities [Member] | Industrial and Interruptible Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,000 | 1,006 | 3,730 | 3,767 |
Avista Utilities [Member] | Total Retail Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 31,364 | 29,690 | 189,329 | 195,912 |
Avista Utilities [Member] | Transportation Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,925 | 2,007 | 6,448 | 6,795 |
Avista Utilities [Member] | Other Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,125 | 1,125 | 3,375 | 3,375 |
Avista Utilities [Member] | Total Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 34,414 | 32,822 | 199,152 | 206,082 |
Avista Utilities [Member] | Revenue from contracts with customers | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 234,534 | 242,098 | 820,438 | 835,373 |
Avista Utilities [Member] | Derivative revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 33,372 | 32,718 | 99,628 | 147,467 |
Avista Utilities [Member] | Alternative Revenue Programs [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 6,038 | 606 | 11,105 | (1,763) |
Avista Utilities [Member] | Deferrals and amortizations for rate refunds to customers | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | (927) | 2,922 | 3,720 | (16,900) |
Avista Utilities [Member] | Other utility revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 1,914 | 1,205 | 7,550 | 6,348 |
Alaska Electric Light & Power [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 7,790 | 9,570 | 27,414 | 33,715 |
Alaska Electric Light & Power [Member] | Residential Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 2,764 | 2,987 | 12,340 | 13,680 |
Alaska Electric Light & Power [Member] | Commercial and Governmental Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 4,857 | 6,546 | 14,515 | 21,131 |
Alaska Electric Light & Power [Member] | Industrial Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 |
Alaska Electric Light & Power [Member] | Public Street and Highway Lighting Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 66 | 66 | 188 | 197 |
Alaska Electric Light & Power [Member] | Total Retail Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 7,687 | 9,599 | 27,043 | 35,008 |
Alaska Electric Light & Power [Member] | Transmission Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 |
Alaska Electric Light & Power [Member] | Other Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 |
Alaska Electric Light & Power [Member] | Total Electric [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 7,687 | 9,599 | 27,043 | 35,008 |
Alaska Electric Light & Power [Member] | Residential Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 |
Alaska Electric Light & Power [Member] | Commercial Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 |
Alaska Electric Light & Power [Member] | Industrial and Interruptible Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 |
Alaska Electric Light & Power [Member] | Total Retail Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 |
Alaska Electric Light & Power [Member] | Transportation Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 |
Alaska Electric Light & Power [Member] | Other Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 |
Alaska Electric Light & Power [Member] | Total Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 |
Alaska Electric Light & Power [Member] | Revenue from contracts with customers | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 7,687 | 9,599 | 27,043 | 35,008 |
Alaska Electric Light & Power [Member] | Deferrals and amortizations for rate refunds to customers | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | (48) | (156) | (143) | (1,705) |
Alaska Electric Light & Power [Member] | Other utility revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 151 | 127 | 514 | 412 |
Corporate and Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 1,049 | 6,894 | 11,208 | 20,432 |
Corporate and Other [Member] | Revenue from contracts with customers | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 731 | 6,580 | 10,402 | 19,633 |
Corporate and Other [Member] | Other revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 318 | $ 314 | $ 806 | $ 799 |
Leases Leases (Details)
Leases Leases (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract | 12 years |
Lessee, Operating Lease, Not Yet Commenced, Assumption and Judgment, Estimated Annual Operating Expense | $ 1.1 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | us-gaap:InvestmentsAndOtherNoncurrentAssets |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | us-gaap:InvestmentsAndOtherNoncurrentAssets |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilitiesCurrent |
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilitiesNoncurrent |
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilitiesCurrent |
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilitiesNoncurrent |
Minimum [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Term of Contract | 1 year |
Lessee, Operating Lease, Renewal Term | 5 years |
Maximum [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Term of Contract | 74 years |
Lessee, Operating Lease, Renewal Term | 50 years |
State of Montana [Member] | |
Lessee, Lease, Description [Line Items] | |
Lease Expiration Date | Dec. 31, 2046 |
Snettisham Hydroelectric Project [Member] | |
Lessee, Lease, Description [Line Items] | |
Lease Expiration Date | Dec. 31, 2034 |
Leases Leases Components of Lea
Leases Leases Components of Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Lessee, Lease, Description [Line Items] | ||
Operating Lease, Cost | $ 1,109 | $ 3,318 |
Variable Lease, Cost | 248 | 735 |
Finance Lease, Right-of-Use Asset, Amortization | 911 | 2,731 |
Finance Lease, Interest Expense | 698 | 2,096 |
Operating Lease [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lease, Cost | 1,357 | 4,053 |
Finance Lease [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lease, Cost | $ 1,609 | $ 4,827 |
Leases Leases Supplemental Cash
Leases Leases Supplemental Cash Flow Information (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Leases [Abstract] | |
Operating Lease, Payments | $ 4,311 |
Finance Lease, Interest Payment on Liability | 2,096 |
Total Lease Payments in Operating Cash Flows | 6,407 |
Finance Lease, Principal Payments | $ 1,995 |
Leases Leases Supplemental Bala
Leases Leases Supplemental Balance Sheet Disclosures (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Leases [Abstract] | ||
Finance Lease, Liability | $ 55,215 | |
Operating Lease, Liability | 73,044 | |
Operating Lease, Right-of-Use Asset | 70,140 | $ 0 |
Operating Lease, Liability, Current | 4,119 | |
Operating Lease, Liability, Noncurrent | 68,925 | 0 |
Finance Lease, Right-of-Use Asset | 51,890 | 0 |
Finance Lease, Liability, Current | 2,765 | |
Finance Lease, Liability, Noncurrent | $ 52,450 | $ 0 |
Operating Lease, Weighted Average Remaining Lease Term | 26 years 9 months 21 days | |
Finance Lease, Weighted Average Remaining Lease Term | 8 years 1 month 17 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.82% | |
Finance Lease, Weighted Average Discount Rate, Percent | 4.71% |
Leases Leases Maturities of Lea
Leases Leases Maturities of Lease Liabilities (Details) $ in Thousands | Sep. 30, 2019USD ($) |
Leases [Abstract] | |
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | $ 4,063 |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 4,371 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 4,374 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 4,385 |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 4,398 |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 96,056 |
Lessee, Operating Lease, Liability, Payments, Due | 117,647 |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | (44,603) |
Operating Lease, Liability | 73,044 |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 1,363 |
Finance Lease, Liability, Payments, Due Year Two | 5,462 |
Finance Lease, Liability, Payments, Due Year Three | 5,457 |
Finance Lease, Liability, Payments, Due Year Four | 5,460 |
Finance Lease, Liability, Payments, Due Year Five | 5,456 |
Finance Lease, Liability, Payments, Due after Year Five | 54,574 |
Finance Lease, Liability, Payments, Due | 77,772 |
Finance Lease, Liability, Undiscounted Excess Amount | (22,557) |
Finance Lease, Liability | $ 55,215 |
Leases Leases Future Minimum Le
Leases Leases Future Minimum Lease Payments (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Leases [Abstract] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 4,995 |
Operating Leases, Future Minimum Payments, Due in Two Years | 4,876 |
Operating Leases, Future Minimum Payments, Due in Three Years | 4,859 |
Operating Leases, Future Minimum Payments, Due in Four Years | 4,782 |
Operating Leases, Future Minimum Payments, Due in Five Years | 4,780 |
Operating Leases, Future Minimum Payments, Due Thereafter | 102,389 |
Operating Leases Future Minimum Payments Interest Included In Payments | 0 |
Operating Leases, Future Minimum Payments Due | 126,681 |
Capital Leases, Future Minimum Payments Due, Next Twelve Months | 5,455 |
Capital Leases, Future Minimum Payments Due in Two Years | 5,462 |
Capital Leases, Future Minimum Payments Due in Three Years | 5,457 |
Capital Leases, Future Minimum Payments Due in Four Years | 5,460 |
Capital Leases, Future Minimum Payments Due in Five Years | 5,456 |
Capital Leases, Future Minimum Payments Due Thereafter | 54,574 |
Capital Leases, Future Minimum Payments Due | 81,864 |
Capital Leases, Future Minimum Payments, Interest Included in Payments | (24,654) |
Capital Lease Obligations | $ 57,210 |
Derivatives And Risk Manageme_3
Derivatives And Risk Management (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Derivative [Line Items] | ||
Derivative, Fair Value, Amount Offset Against Collateral, Net | $ 12,385 | $ 51,747 |
Commodity Contracts [Member] | ||
Derivative [Line Items] | ||
Cash deposited as collateral | 4,906 | 78,025 |
Letters of credit outstanding | 9,500 | 6,500 |
Derivative, Fair Value, Amount Offset Against Collateral, Net | 3,505 | 51,217 |
Liability position at aggregate fair value | 1,345 | 2,193 |
Additional Collateral, Aggregate Fair Value | 1,339 | 2,193 |
Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Cash deposited as collateral | 8,880 | 530 |
Derivative, Fair Value, Amount Offset Against Collateral, Net | 8,880 | 530 |
Liability position at aggregate fair value | 53,271 | 7,831 |
Additional Collateral, Aggregate Fair Value | $ 44,391 | $ 6,579 |
Derivatives And Risk Manageme_4
Derivatives And Risk Management (Energy Commodity Derivatives) (Details) frequency in Thousands, Volt in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019Voltfrequency | Dec. 31, 2018Voltfrequency | |
Sales [Member] | Physical [Member] | Electric Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2019 | 37 | 197 |
2020 | 123 | 123 |
2021 | 0 | 0 |
2022 | 0 | 0 |
2023 | 0 | 0 |
Thereafter | 0 | 0 |
Sales [Member] | Physical [Member] | Gas Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2019 | Volt | 1,166 | 2,909 |
2020 | Volt | 1,430 | 1,430 |
2021 | Volt | 1,040 | 1,049 |
2022 | 0 | 0 |
2023 | 0 | 0 |
Thereafter | Volt | 0 | 0 |
Sales [Member] | Financial [Member] | Electric Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2019 | 696 | 2,790 |
2020 | 1,107 | 959 |
2021 | 246 | 0 |
2022 | 0 | 0 |
2023 | 0 | 0 |
Thereafter | 0 | 0 |
Sales [Member] | Financial [Member] | Gas Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2019 | Volt | 15,878 | 54,418 |
2020 | Volt | 33,215 | 14,625 |
2021 | Volt | 9,475 | 4,100 |
2022 | Volt | 0 | 0 |
2023 | 0 | 0 |
Thereafter | Volt | 0 | 0 |
Purchase [Member] | Physical [Member] | Electric Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2019 | 2 | 206 |
2020 | 0 | 0 |
2021 | 0 | 0 |
2022 | 0 | 0 |
2023 | 0 | 0 |
Thereafter | 0 | 0 |
Purchase [Member] | Physical [Member] | Gas Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2019 | Volt | 4,208 | 10,732 |
2020 | Volt | 1,138 | 1,138 |
2021 | Volt | 153 | 0 |
2022 | Volt | 225 | 0 |
2023 | Volt | 0 | 0 |
Thereafter | Volt | 0 | 0 |
Purchase [Member] | Financial [Member] | Electric Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2019 | 420 | 941 |
2020 | 422 | 0 |
2021 | 0 | 0 |
2022 | 0 | 0 |
2023 | 0 | 0 |
Thereafter | 0 | 0 |
Purchase [Member] | Financial [Member] | Gas Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2019 | Volt | 33,788 | 101,293 |
2020 | Volt | 65,360 | 47,225 |
2021 | Volt | 21,280 | 9,670 |
2022 | Volt | 3,150 | 0 |
2023 | Volt | 0 | 0 |
Thereafter | Volt | 0 | 0 |
Derivatives And Risk Manageme_5
Derivatives And Risk Management Derivatives and Risk Management (Foreign Currency Exchange Contracts) (Details) $ in Thousands, $ in Thousands | 9 Months Ended | |||
Sep. 30, 2019USD ($)derivative_contracts | Sep. 30, 2019CAD ($)derivative_contracts | Dec. 31, 2018USD ($)derivative_contracts | Dec. 31, 2018CAD ($)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 | 27 | 27 | 31 | 31 |
United States of America, Dollars | Foreign Exchange Contract [Member] | ||||
Foreign Currency Fair Value Hedge Derivative [Line Items] | ||||
Derivative, Notional Amount | $ 3,366 | $ 4,018 | ||
Canada, Dollars | Foreign Exchange Contract [Member] | ||||
Foreign Currency Fair Value Hedge Derivative [Line Items] | ||||
Derivative, Notional Amount | $ 4,460 | $ 5,386 |
Derivatives And Risk Manageme_6
Derivatives And Risk Management (Interest Rate Swap Agreements) (Details) - Interest Rate Swap [Member] $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019USD ($)Caontracts | Dec. 31, 2018USD ($)Caontracts | |
2019 | ||
Derivatives, Fair Value [Line Items] | ||
Number of Interest Rate Derivatives Held | Caontracts | 6 | |
Derivative, Notional Amount | $ | $ 70,000 | |
Mandatory Cash Settlement Date | 2019 | |
2020 | ||
Derivatives, Fair Value [Line Items] | ||
Number of Interest Rate Derivatives Held | Caontracts | 7 | 6 |
Derivative, Notional Amount | $ | $ 70,000 | $ 60,000 |
Mandatory Cash Settlement Date | 2020 | 2020 |
2021 | ||
Derivatives, Fair Value [Line Items] | ||
Number of Interest Rate Derivatives Held | Caontracts | 3 | 2 |
Derivative, Notional Amount | $ | $ 35,000 | $ 25,000 |
Mandatory Cash Settlement Date | 2021 | 2021 |
2022 | ||
Derivatives, Fair Value [Line Items] | ||
Number of Interest Rate Derivatives Held | Caontracts | 10 | 7 |
Derivative, Notional Amount | $ | $ 110,000 | $ 80,000 |
Mandatory Cash Settlement Date | 2022 | 2022 |
Derivatives And Risk Manageme_7
Derivatives And Risk Management (Derivative Instruments Summary) (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Derivatives, Fair Value [Line Items] | ||
Gross Asset | $ 35,595,000 | $ 46,849,000 |
Gross Liability | (96,278,000) | (102,453,000) |
Collateral Netted | 12,385,000 | 51,747,000 |
Net Asset (Liability) on Balance Sheet | (48,298,000) | (3,857,000) |
Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Collateral Netted | 8,880,000 | 530,000 |
Commodity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Collateral Netted | 3,505,000 | 51,217,000 |
Other Current Liabilities [Member] | Foreign Exchange Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 0 | 0 |
Gross Liability | (21,000) | (45,000) |
Collateral Netted | 0 | 0 |
Net Asset (Liability) on Balance Sheet | (21,000) | (45,000) |
Other Current Liabilities [Member] | Commodity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 27,506,000 | 31,457,000 |
Gross Liability | (34,120,000) | (73,155,000) |
Collateral Netted | 3,505,000 | 37,790,000 |
Net Asset (Liability) on Balance Sheet | (3,109,000) | (3,908,000) |
Other Current Assets [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 5,283,000 | |
Gross Liability | 0 | |
Collateral Netted | 0 | |
Net Asset (Liability) on Balance Sheet | 5,283,000 | |
Other Current Assets [Member] | Commodity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 677,000 | 400,000 |
Gross Liability | (437,000) | (130,000) |
Collateral Netted | 0 | 0 |
Net Asset (Liability) on Balance Sheet | 240,000 | 270,000 |
Other Property And Investments Net And Other Non-current Assets [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 4,127,000 | 5,283,000 |
Gross Liability | (3,486,000) | (440,000) |
Collateral Netted | 0 | 0 |
Net Asset (Liability) on Balance Sheet | 641,000 | 4,843,000 |
Other Noncurrent Liabilities [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 0 | 0 |
Gross Liability | (53,271,000) | (7,391,000) |
Collateral Netted | 8,880,000 | 530,000 |
Net Asset (Liability) on Balance Sheet | (44,391,000) | (6,861,000) |
Other Noncurrent Liabilities [Member] | Commodity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 3,285,000 | 4,426,000 |
Gross Liability | (4,943,000) | (21,292,000) |
Collateral Netted | 0 | 13,427,000 |
Net Asset (Liability) on Balance Sheet | $ (1,658,000) | $ (3,439,000) |
Derivatives And Risk Manageme_8
Derivatives And Risk Management Derivatives and Risk Management (Collateral) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Derivative [Line Items] | ||
Derivative, Fair Value, Amount Offset Against Collateral, Net | $ 12,385 | $ 51,747 |
Commodity Contracts [Member] | ||
Derivative [Line Items] | ||
Liability position at aggregate fair value | 1,345 | 2,193 |
Additional Collateral, Aggregate Fair Value | 1,339 | 2,193 |
Collateral Already Posted, Aggregate Fair Value | 4,906 | 78,025 |
Letters of credit outstanding | 9,500 | 6,500 |
Derivative, Fair Value, Amount Offset Against Collateral, Net | 3,505 | 51,217 |
Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Collateral Already Posted, Aggregate Fair Value | 0 | 0 |
Letters of credit outstanding | $ 0 | $ 0 |
Pension Plans And Other Postr_3
Pension Plans And Other Postretirement Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Payment for Pension Benefits | $ 22,000 | $ 22,000 |
Pension Plans And Other Postr_4
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of Service Related Net Periodic Benefit Costs Capitalized to Utility Property | 40.00% | |||
Percentage of Service Related Net Periodic Benefit Costs Recorded to Operating Expenses | 60.00% | |||
Percentage of Non-service Related Net Periodic Benefit Costs Capitalized to Regulatory Assets | 40.00% | |||
Percentage of Non-service Related Net Periodic Benefit Costs Recorded to Other Expense | 60.00% | |||
Pension Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 4,948 | $ 5,318 | $ 14,770 | $ 16,218 |
Interest cost | 7,134 | 6,634 | 21,372 | 19,566 |
Expected return on plan assets | (7,913) | (8,101) | (23,681) | (24,601) |
Amortization of prior service cost | 75 | 71 | 225 | 221 |
Net loss recognition | 2,553 | 1,761 | 7,394 | 5,691 |
Net periodic benefit cost | 6,797 | 5,683 | 20,080 | 17,095 |
Other Post-Retirement Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 754 | 815 | 2,279 | 2,423 |
Interest cost | 1,140 | 1,261 | 3,676 | 3,655 |
Expected return on plan assets | (616) | (550) | (1,945) | (1,550) |
Amortization of prior service cost | (275) | (299) | (825) | (905) |
Net loss recognition | 1,299 | 1,044 | 3,874 | 3,261 |
Net periodic benefit cost | $ 2,302 | $ 2,271 | $ 7,059 | $ 6,884 |
Income Taxes Income Taxes (Deta
Income Taxes Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Jun. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Effective Tax Rate Reconciliation [Line Items] | ||||||
Regulatory liabilities | $ 43,442 | $ 43,442 | $ 113,209 | |||
Federal income taxes at statutory rates | $ 1,041 | $ 2,452 | $ 36,554 | $ 22,721 | ||
Federal income taxes at statutory rates | 21.00% | 21.00% | 21.00% | 21.00% | ||
Tax effect of regulatory treatment of utility plant differences | $ (2,139) | $ (1,521) | $ (6,358) | $ (4,519) | ||
Tax effect of regulatory treatment of utility plant differences | (43.10%) | (13.00%) | (3.70%) | (4.20%) | ||
State income tax expense | $ (800) | $ (319) | $ 851 | $ 694 | ||
State income tax expense | (16.10%) | (2.70%) | 0.50% | 0.60% | ||
Settlement of Prior Year Tax Returns, amount | $ (604) | $ (136) | $ 1,995 | $ (136) | ||
Settlement of Prior Year Tax Return, Percent | (12.20%) | (1.10%) | 1.10% | (0.10%) | ||
Acquisition costs | $ 0 | $ 122 | $ (1,712) | $ 241 | ||
Acquisition costs | 0.00% | 1.00% | (1.00%) | 0.20% | ||
Non-plant excess deferred turnaround | $ (20) | $ (5,100) | $ 0 | $ (5,621) | $ 0 | |
Non-plant excess deferred turnaround | (0.40%) | 0.00% | (3.20%) | 0.00% | ||
Tax loss on sale of METALfx | $ (13) | $ 0 | $ (1,272) | $ 0 | ||
Tax loss on sale of METALfx | (0.20%) | 0.00% | (0.70%) | 0.00% | ||
Valuation allowance | $ 0 | $ 0 | $ 1,245 | $ 0 | ||
Valuation allowance | 0.00% | 0.00% | 0.70% | 0.00% | ||
Settlement of equity awards | $ 0 | $ 0 | $ 612 | $ (990) | ||
Settlement of equity awards | 0.00% | 0.00% | 0.40% | (0.90%) | ||
Other | $ 2,404 | $ 950 | $ 1,851 | $ (544) | ||
Other | 48.40% | 8.10% | 1.10% | (0.50%) | ||
Income Tax Expense (Benefit) | $ (131) | $ 1,548 | $ 28,145 | $ 17,467 | ||
Effective Income Tax Rate | (2.60%) | 13.30% | 16.20% | 16.10% | ||
Income Tax Related | ||||||
Effective Tax Rate Reconciliation [Line Items] | ||||||
Regulatory liabilities | $ 23,409 | $ 23,409 | $ 27,997 | |||
Income Tax Related | IDAHO | ||||||
Effective Tax Rate Reconciliation [Line Items] | ||||||
Regulatory liabilities | $ 6,400 | $ 6,400 |
Committed Lines of Credit (Deta
Committed Lines of Credit (Details) - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2019 | Dec. 31, 2018 | Jul. 01, 2014 | Apr. 30, 2014 | |
Short-term Debt [Line Items] | ||||
Document Period End Date | Sep. 30, 2019 | |||
Avista Utilities [Member] | ||||
Short-term Debt [Line Items] | ||||
Long-term Line of Credit | $ 207,000 | |||
Line of Credit, Current | 119,300 | $ 190,000 | ||
Long-term Line of Credit, Noncurrent | 87,700 | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 400,000 | |||
Letters of credit outstanding at end of period | $ 13,503 | $ 10,503 | ||
Average interest rate at end of period | 2.94% | 3.18% | ||
Alaska Electric Light & Power [Member] | ||||
Short-term Debt [Line Items] | ||||
Line of Credit, Current | $ 0 | $ 0 | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 25,000 | |||
Letters of credit outstanding at end of period | $ 0 | $ 0 |
Long-Term Debt Long-Term Debt_2
Long-Term Debt Long-Term Debt (Details) $ in Millions | 9 Months Ended | |
Sep. 30, 2019USD ($)Caontracts | Apr. 30, 2014USD ($) | |
Debt Instrument [Line Items] | ||
Payments for (proceeds from) derivative instrument operating activities | $ 13.3 | |
Avista Utilities [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 400 | |
Long-term Line of Credit, Noncurrent | 87.7 | |
Avista Utilities [Member] | First Mortgage [Member] | Two Thousand Forty Nine Three Point Four Three Percent [Member] | ||
Debt Instrument [Line Items] | ||
Secured Debt | $ 180 | |
Interest Rate | 3.43% | |
Long-term Debt, Maturity Date | Dec. 31, 2049 | |
Avista Utilities [Member] | First Mortgage [Member] | 2019 | ||
Debt Instrument [Line Items] | ||
Secured Debt | $ 90 | |
Interest Rate Swap [Member] | 2019 | ||
Debt Instrument [Line Items] | ||
Number of Interest Rate Swaps Settled | Caontracts | 6 | |
Settled Derivative Notional Amount | $ 70 |
Long- Term Debt to Affiliated_3
Long- Term Debt to Affiliated Trust Long-Term Debt to Affiliated Trust (Schedule of Distribution Rates Paid) (Details) - Trust Preferred Securities Subject to Mandatory Redemption [Member] | Sep. 30, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||
Interest Rate at End of Period | 3.01% | 3.61% |
Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate at End of Period | 3.01% | 2.36% |
Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate at End of Period | 3.40% | 3.61% |
Long- Term Debt to Affiliated_4
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, 2019 | Dec. 31, 2000 | Dec. 31, 1997 | |
Debt Instrument [Line Items] | |||
Proceeds From The Issuance of Common Trust Securities | $ 1.5 | ||
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] | |||
Debt Instrument, Description of Variable Rate Basis | LIBOR | ||
Debt Instrument, Basis Spread on Variable Rate | 0.875% | ||
Proceeds from (Repurchase of) Trust Preferred Securities | $ 50 |
Fair Value (Carrying Value And
Fair Value (Carrying Value And Estimated Fair Value Of Financial Instruments) (Details) $ in Thousands | Sep. 30, 2019USD ($)$ / shares | Dec. 31, 2018USD ($) |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Capital Lease Obligations | $ 57,210 | |
Finance Lease, Liability | $ 55,215 | |
Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | 1,244,252 | 1,142,292 |
Level 2 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | 1,053,500 | 1,053,500 |
Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | 855,530 | 734,742 |
Level 3 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | 767,000 | 767,000 |
Alaska Electric Light & Power [Member] | Capital Lease Obligations [Member] | Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Capital Lease Obligations | 55,600 | |
Finance Lease, Liability | 58,900 | |
Alaska Electric Light & Power [Member] | Capital Lease Obligations [Member] | Level 3 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Capital Lease Obligations | 57,210 | |
Finance Lease, Liability | 55,215 | |
Affiliated Entity [Member] | Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | 40,207 | 38,145 |
Affiliated Entity [Member] | 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 |
Measurement Input, Quoted Price [Member] | Secured and Unsecured Debt [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Measurement Input | $ / shares | 100 | |
Measurement Input, Quoted Price [Member] | Minimum [Member] | Secured and Unsecured Debt [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Measurement Input | $ / shares | 78 | |
Measurement Input, Quoted Price [Member] | Maximum [Member] | Secured and Unsecured Debt [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Measurement Input | $ / shares | 135.60 |
Fair Value (Fair Value Of Asset
Fair Value (Fair Value Of Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2017 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Gross Asset | $ 35,595 | $ 46,849 | ||
Liability | 96,278 | 102,453 | ||
Cash and cash equivalents | 14,454 | 14,656 | $ 21,170 | $ 16,172 |
Fixed Income Securities [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 400 | 500 | ||
Fair Value, Measurements, Recurring [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Counterparty and collateral netting, assets | (34,714) | (36,453) | ||
Assets, Fair Value Disclosure | 9,290 | 18,298 | ||
Counterparty and collateral netting, liabilities | (47,099) | (88,200) | ||
Financial Liabilities Fair Value Disclosure | 49,179 | 14,253 | ||
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 | (43) | (31) | ||
Derivative Asset | 0 | 0 | ||
Counterparty and collateral netting, liabilities | (43) | (31) | ||
Derivative Liability | 3,134 | 2,774 | ||
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 | |||
Derivative Liability | 2,488 | |||
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Counterparty and collateral netting, assets | (440) | |||
Derivative Asset | 10,126 | |||
Counterparty and collateral netting, liabilities | (8,880) | (970) | ||
Derivative Liability | 44,391 | 6,861 | ||
Fair Value, Measurements, Recurring [Member] | Energy commodity derivatives | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Counterparty and collateral netting, assets | (34,671) | (35,982) | ||
Derivative Asset | 881 | 270 | ||
Counterparty and collateral netting, liabilities | (38,176) | (87,199) | ||
Derivative Liability | 1,633 | 2,084 | ||
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 | |||
Derivative Liability | 1 | |||
Fair Value, Measurements, Recurring [Member] | Foreign Exchange Contract [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Counterparty and collateral netting, liabilities | 0 | 0 | ||
Derivative Liability | 21 | 45 | ||
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Assets, Fair Value Disclosure | 8,409 | 7,902 | ||
Financial Liabilities Fair Value Disclosure | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Assets, Fair Value Disclosure | 35,552 | 46,818 | ||
Financial Liabilities Fair Value Disclosure | 93,101 | 97,159 | ||
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Interest Rate Swap [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Gross Asset | 10,566 | |||
Liability | 53,271 | 7,831 | ||
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Energy commodity derivatives | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Gross Asset | 35,552 | 36,252 | ||
Liability | 39,809 | 89,283 | ||
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Foreign Exchange Contract [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Liability | 21 | 45 | ||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Assets, Fair Value Disclosure | 43 | 31 | ||
Financial Liabilities Fair Value Disclosure | 3,177 | 5,294 | ||
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 | 43 | 31 | ||
Liability | 3,177 | 2,805 | ||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Power Exchange Agreements [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Liability | 2,488 | |||
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Power Option Agreement [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Liability | 1 | |||
Fixed Income Funds [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Deferred compensation assets: | 1,818 | 1,745 | ||
Fixed Income Funds [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Deferred compensation assets: | 1,818 | 1,745 | ||
Equity Funds [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Deferred compensation assets: | 6,591 | 6,157 | ||
Equity Funds [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Deferred compensation assets: | $ 6,591 | $ 6,157 |
Fair Value (Quantitative Inform
Fair Value (Quantitative Information) (Details) - Natural Gas Exchange Agreements [Member] $ in Thousands | 9 Months Ended | |
Sep. 30, 2019USD ($)MMBTU$ / MmBtu | Dec. 31, 2018USD ($) | |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Derivative Liability | $ | $ (3,134) | $ (2,774) |
Sales [Member] | Minimum [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Derivative, Forward Price | $ / MmBtu | 1.44 | |
Transaction/Delivery Volumes | MMBTU | 60,000 | |
Sales [Member] | Maximum [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Derivative, Forward Price | $ / MmBtu | 3.65 | |
Transaction/Delivery Volumes | MMBTU | 310,000 | |
Purchase [Member] | Minimum [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Derivative, Forward Price | $ / MmBtu | 1.29 | |
Transaction/Delivery Volumes | MMBTU | 125,000 | |
Purchase [Member] | Maximum [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Derivative, Forward Price | $ / MmBtu | 1.92 | |
Transaction/Delivery Volumes | MMBTU | 310,000 |
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) - Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Fair Value Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | $ (2,992) | $ (9,825) | $ (5,262) | $ (16,409) |
Included in regulatory assets/liabilities | (133) | 912 | 8,451 | 1,067 |
Settlements | (9) | 0 | (6,323) | 6,429 |
Ending Balance | (3,134) | (8,913) | (3,134) | (8,913) |
Natural Gas Exchange Agreements [Member] | ||||
Fair Value Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | (2,992) | (3,480) | (2,774) | (3,164) |
Included in regulatory assets/liabilities | (133) | 476 | 8,015 | (89) |
Settlements | (9) | 0 | (8,375) | 249 |
Ending Balance | (3,134) | (3,004) | (3,134) | (3,004) |
Power Exchange Agreements [Member] | ||||
Fair Value Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 0 | (6,345) | (2,488) | (13,245) |
Included in regulatory assets/liabilities | 0 | 436 | 436 | 1,156 |
Settlements | 0 | 0 | 2,052 | 6,180 |
Ending Balance | $ 0 | $ (5,909) | $ 0 | $ (5,909) |
Common Stock Common Stock (Deta
Common Stock Common Stock (Details) - shares | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | |
Class of Stock [Line Items] | |||
Sales Agency Agreements Common Stock, Shares Authorized | 200,000,000 | 200,000,000 | 200,000,000 |
Document Period End Date | Sep. 30, 2019 | ||
Sales Agency Agreement [Member] | |||
Class of Stock [Line Items] | |||
Shares issued from sales agency agreements | 600,000 | 1,000,000 | |
Sales Agency Agreements Common Stock, Shares Authorized | 4,600,000 | 4,600,000 | |
Common Stock Shares Authorized Under Sales Agency Agreements Remaining Shares Authorized To Sell | 3,600,000 | 3,600,000 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss Reclassifications from AOCL (Details) - Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] - Reclassification out of Accumulated Other Comprehensive Income [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Amortization of net prior service cost | $ (200) | $ (228) | $ (600) | $ (684) |
Amortization of net loss | 3,852 | 2,962 | 11,268 | 8,952 |
Adjustment due to effects of regulation | (3,447) | (2,476) | (10,057) | (7,493) |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax | 205 | 258 | 611 | 775 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax | (43) | (54) | (128) | (163) |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax | $ 162 | $ 204 | $ 483 | $ 612 |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss Balance Sheet (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Accumulated Other Comprehensive Loss [Abstract] | ||
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans Net Unamortized (Gain) Loss, Tax | $ 1,963 | $ 2,091 |
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | $ 7,383 | $ 7,866 |
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Numerator: | ||||
Net income from continuing operations attributable to Avista Corp. shareholders | $ 5,090 | $ 10,119 | $ 146,203 | $ 90,586 |
Denominator: | ||||
Weighted-average number of common shares outstanding-basic | 66,265 | 65,688 | 65,964 | 65,668 |
Performance and restricted stock awards | 86 | 338 | 86 | 312 |
Weighted-average number of common shares outstanding-diluted | 66,351 | 66,026 | 66,050 | 65,980 |
Earnings Per Share, Basic [Abstract] | ||||
Basic | $ 0.08 | $ 0.15 | $ 2.22 | $ 1.38 |
Earnings Per Share, Diluted [Abstract] | ||||
Diluted | $ 0.08 | $ 0.15 | $ 2.21 | $ 1.37 |
Commitments And Contingencies (
Commitments And Contingencies (Details) - USD ($) $ in Millions | 1 Months Ended | 9 Months Ended |
Feb. 28, 2016 | Sep. 30, 2019 | |
Loss Contingencies [Line Items] | ||
Document Period End Date | Sep. 30, 2019 | |
WASHINGTON | Electricity [Member] | ||
Loss Contingencies [Line Items] | ||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 8.1 | |
2015 Washington General Rate Case [Member] | ||
Loss Contingencies [Line Items] | ||
Loss Contingency, Accrual, Current | $ 3 | |
2015 Washington General Rate Case Power Supply Error [Member] | ||
Loss Contingencies [Line Items] | ||
Loss Contingency, Estimate of Possible Loss | 20 | |
Minimum [Member] | 2015 Washington General Rate Case [Member] | ||
Loss Contingencies [Line Items] | ||
Loss Contingency, Estimate of Possible Loss | 3 | |
Maximum [Member] | 2015 Washington General Rate Case [Member] | ||
Loss Contingencies [Line Items] | ||
Loss Contingency, Estimate of Possible Loss | $ 77 |
Information By Business Segme_3
Information By Business Segments (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($)Reportable_Segments | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of Reportable Segments | Reportable_Segments | 2 | ||||
Operating revenues | $ 283,770 | $ 296,013 | $ 981,063 | $ 1,024,672 | |
Resource costs | 98,324 | 101,519 | 324,110 | 362,106 | |
Other operating expenses | 81,562 | 86,707 | 286,622 | 260,105 | |
Depreciation and amortization | 50,186 | 46,242 | 154,943 | 137,006 | |
Income from operations | 30,243 | 36,444 | 137,082 | 183,929 | |
Interest expense | 26,193 | 24,605 | 78,063 | 75,106 | |
Income taxes | (131) | 1,548 | 28,145 | 17,467 | |
Net income from continuing operations attributable to Avista Corp. shareholders | 5,090 | 10,119 | 146,203 | 90,586 | |
Capital Expenditures | 121,897 | 113,340 | 322,069 | 297,024 | |
Total assets | 5,964,783 | 5,964,783 | $ 5,782,576 | ||
Avista Utilities [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 274,931 | 279,549 | 942,441 | 970,525 | |
Alaska Electric Light & Power [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 7,790 | 9,570 | 27,414 | 33,715 | |
Corporate and Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 1,049 | 6,894 | 11,208 | 20,432 | |
Intersegment Eliminations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 0 | 0 | 0 | 0 | |
Resource costs | 0 | 0 | 0 | 0 | |
Other operating expenses | 0 | 0 | 0 | 0 | |
Depreciation and amortization | 0 | 0 | 0 | 0 | |
Income from operations | 0 | 0 | 0 | 0 | |
Interest expense | (186) | (313) | (823) | (712) | |
Income taxes | 0 | 0 | 0 | 0 | |
Net income from continuing operations attributable to Avista Corp. shareholders | 0 | 0 | 0 | 0 | |
Capital Expenditures | 0 | 0 | 0 | 0 | |
Total assets | (17,324) | (17,324) | (35,528) | ||
Operating Segments [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 282,721 | 289,119 | 969,855 | 1,004,240 | |
Resource costs | 98,324 | 101,519 | 324,110 | 362,106 | |
Other operating expenses | 80,112 | 79,360 | 271,485 | 239,391 | |
Depreciation and amortization | 50,052 | 46,035 | 154,445 | 136,419 | |
Income from operations | 30,778 | 37,104 | 141,509 | 184,798 | |
Interest expense | 26,230 | 24,456 | 78,001 | 74,639 | |
Income taxes | 207 | 2,752 | 27,547 | 19,814 | |
Net income from continuing operations attributable to Avista Corp. shareholders | 6,163 | 12,759 | 143,911 | 97,605 | |
Capital Expenditures | 120,977 | 113,083 | 320,965 | 296,215 | |
Total assets | 5,874,721 | 5,874,721 | 5,731,054 | ||
Operating Segments [Member] | Avista Utilities [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 274,931 | 279,549 | 942,441 | 970,525 | |
Resource costs | 98,397 | 98,461 | 325,615 | 353,148 | |
Other operating expenses | 76,749 | 76,355 | 261,934 | 230,342 | |
Depreciation and amortization | 47,631 | 44,569 | 147,208 | 132,022 | |
Income from operations | 28,998 | 35,317 | 130,200 | 174,310 | |
Interest expense | 24,634 | 23,560 | 73,214 | 71,953 | |
Income taxes | 125 | 2,564 | 25,722 | 17,716 | |
Net income from continuing operations attributable to Avista Corp. shareholders | 5,966 | 11,935 | 139,086 | 91,727 | |
Capital Expenditures | 118,141 | 108,907 | 313,747 | 288,046 | |
Total assets | 5,599,103 | 5,599,103 | 5,458,104 | ||
Operating Segments [Member] | Alaska Electric Light & Power [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 7,790 | 9,570 | 27,414 | 33,715 | |
Resource costs | (73) | 3,058 | (1,505) | 8,958 | |
Other operating expenses | 3,363 | 3,005 | 9,551 | 9,049 | |
Depreciation and amortization | 2,421 | 1,466 | 7,237 | 4,397 | |
Income from operations | 1,780 | 1,787 | 11,309 | 10,488 | |
Interest expense | 1,596 | 896 | 4,787 | 2,686 | |
Income taxes | 82 | 188 | 1,825 | 2,098 | |
Net income from continuing operations attributable to Avista Corp. shareholders | 197 | 824 | 4,825 | 5,878 | |
Capital Expenditures | 2,836 | 4,176 | 7,218 | 8,169 | |
Total assets | 275,618 | 275,618 | 272,950 | ||
Operating Segments [Member] | Corporate and Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Operating revenues | 1,049 | 6,894 | 11,208 | 20,432 | |
Resource costs | 0 | 0 | 0 | 0 | |
Other operating expenses | 1,450 | 7,347 | 15,137 | 20,714 | |
Depreciation and amortization | 134 | 207 | 498 | 587 | |
Income from operations | (535) | (660) | (4,427) | (869) | |
Interest expense | 149 | 462 | 885 | 1,179 | |
Income taxes | (338) | (1,204) | 598 | (2,347) | |
Net income from continuing operations attributable to Avista Corp. shareholders | (1,073) | (2,640) | 2,292 | (7,019) | |
Capital Expenditures | 920 | $ 257 | 1,104 | $ 809 | |
Total assets | $ 107,386 | $ 107,386 | $ 87,050 |
Termination of Proposed Acqui_2
Termination of Proposed Acquisition by Hydro One Termination of Proposed Acquisition by Hydro One (Details) - USD ($) $ in Thousands | Jan. 24, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 |
Business Acquisition [Line Items] | |||||
Merger termination fee | $ 0 | $ 0 | $ 103,000 | $ 0 | |
Merger transaction costs | $ 0 | $ 965 | $ 19,675 | $ 2,620 | |
Hydro One [Member] | |||||
Business Acquisition [Line Items] | |||||
Merger termination fee | $ 103,000 |
Sale of METALfx Sale of METAL_2
Sale of METALfx Sale of METALfx (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Apr. 18, 2019 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Noncontrolling Interest, Ownership Percentage by Parent | 89.20% | |
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Disposal Group Including Discontinued Operation Gross Consideration | $ 17.5 | |
Disposal Group Including Discontinued Operation Consideration Held in Escrow | $ 1.2 | |
Disposal Group Including Discontinued Operation Percentage of Gross Consideration Held in Escrow | 7.00% | |
Disposal Group, Including Discontinued Operation, Consideration | $ 16.5 | |
Disposal Group Not Discontinued Operation Gain (Loss) On Disposal Net of Tax | $ 2.3 |