Exhibit 12
AVISTA CORPORATION
Computation of Ratio of Earnings to Fixed Charges and Preferred Dividend Requirements
Consolidated
(Thousands of Dollars)
Nine Months ended September 30, | Years Ended December 31 | |||||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
Fixed charges, as defined: | ||||||||||||||||||||||||
Interest charges | $ | 44,678 | $ | 74,914 | $ | 80,095 | $ | 88,426 | $ | 84,952 | $ | 84,746 | ||||||||||||
Amortization of debt expense and premium - net | 4,305 | 4,673 | 6,345 | 7,741 | 7,762 | 8,301 | ||||||||||||||||||
Interest portion of rentals | 2,522 | 1,601 | 1,612 | 1,802 | 2,394 | 2,443 | ||||||||||||||||||
Total fixed charges | $ | 51,505 | $ | 81,188 | $ | 88,052 | $ | 97,969 | $ | 95,108 | $ | 95,490 | ||||||||||||
Earnings, as defined: | ||||||||||||||||||||||||
Pre-tax income from continuing operations | $ | 99,377 | $ | 120,382 | $ | 63,061 | $ | 114,927 | $ | 70,752 | $ | 57,206 | ||||||||||||
Add (deduct): | ||||||||||||||||||||||||
Capitalized interest | (1,296 | ) | (4,612 | ) | (3,864 | ) | (2,934 | ) | (1,689 | ) | (1,393 | ) | ||||||||||||
Total fixed charges above | 51,505 | 81,188 | 88,052 | 97,969 | 95,108 | 95,490 | ||||||||||||||||||
Total earnings | $ | 149,586 | $ | 196,958 | $ | 147,249 | $ | 209,962 | $ | 164,171 | $ | 151,303 | ||||||||||||
Ratio of earnings to fixed charges | 2.90 | 2.43 | 1.67 | 2.14 | 1.73 | 1.58 |