EXHIBIT 12
AVISTA CORPORATION
Computation of Ratio of Earnings to Fixed Charges
Consolidated
(Thousands of Dollars)
Six months ended June 30, 2012 | Years Ended December 31 | |||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||
Fixed charges, as defined: | ||||||||||||||||||||||||
Interest charges | $ | 36,676 | $ | 69,591 | $ | 72,010 | $ | 61,361 | $ | 74,914 | $ | 80,095 | ||||||||||||
Amortization of debt expense and premium - net | 1,926 | 4,617 | 4,414 | 5,673 | 4,673 | 6,345 | ||||||||||||||||||
Interest portion of rentals | 1,172 | 2,154 | 2,027 | 1,874 | 1,601 | 1,612 | ||||||||||||||||||
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Total fixed charges | $ | 39,774 | $ | 76,362 | $ | 78,451 | $ | 68,908 | $ | 81,188 | $ | 88,052 | ||||||||||||
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Earnings, as defined: | ||||||||||||||||||||||||
Pre-tax income from continuing operations | $ | 88,243 | $ | 160,171 | $ | 146,105 | $ | 134,971 | $ | 120,382 | $ | 63,061 | ||||||||||||
Add (deduct): | ||||||||||||||||||||||||
Capitalized interest | (1,121 | ) | (2,942 | ) | (298 | ) | (545 | ) | (4,612 | ) | (3,864 | ) | ||||||||||||
Total fixed charges above | 39,774 | 76,362 | 78,451 | 68,908 | 81,188 | 88,052 | ||||||||||||||||||
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Total earnings | $ | 126,896 | $ | 233,591 | $ | 224,258 | $ | 203,334 | $ | 196,958 | $ | 147,249 | ||||||||||||
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Ratio of earnings to fixed charges | 3.19 | 3.06 | 2.86 | 2.95 | 2.43 | 1.67 |