Exhibit 12
AVISTA CORPORATION
Computation of Ratio of Earnings to Fixed Charges
Consolidated
(Thousands of Dollars)
Nine months | ||||||||||||||||||||||||
ended | Years Ended December 31 | |||||||||||||||||||||||
September 30, 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
Fixed charges, as defined: | ||||||||||||||||||||||||
Interest charges | $ | 51,971 | $ | 72,010 | $ | 61,361 | $ | 74,914 | $ | 80,095 | $ | 88,426 | ||||||||||||
Amortization of debt expense and premium - net | 3,649 | 4,414 | 5,673 | 4,673 | 6,345 | 7,741 | ||||||||||||||||||
Interest portion of rentals | 1,421 | 2,027 | 1,874 | 1,601 | 1,612 | 1,802 | ||||||||||||||||||
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Total fixed charges | $ | 57,041 | $ | 78,451 | $ | 68,908 | $ | 81,188 | $ | 88,052 | $ | 97,969 | ||||||||||||
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Earnings, as defined: | ||||||||||||||||||||||||
Pre-tax income from continuing operations | $ | 118,505 | $ | 146,105 | $ | 134,971 | $ | 120,382 | $ | 63,061 | $ | 114,927 | ||||||||||||
Add (deduct): | ||||||||||||||||||||||||
Capitalized interest | (2,209 | ) | (298 | ) | (545 | ) | (4,612 | ) | (3,864 | ) | (2,934 | ) | ||||||||||||
Total fixed charges above | 57,041 | 78,451 | 68,908 | 81,188 | 88,052 | 97,969 | ||||||||||||||||||
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Total earnings | $ | 173,337 | $ | 224,258 | $ | 203,334 | $ | 196,958 | $ | 147,249 | $ | 209,962 | ||||||||||||
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Ratio of earnings to fixed charges | 3.04 | 2.86 | 2.95 | 2.43 | 1.67 | 2.14 |