Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Jan. 31, 2021 | Jun. 30, 2020 | |
Cover [Abstract] | |||
Entity Filer Category | Large Accelerated Filer | ||
Title of 12(b) Security | Common Stock | ||
Entity Incorporation, State or Country Code | WA | ||
Entity Registrant Name | AVISTA CORPORATION | ||
Document Transition Report | false | ||
Document Annual Report | true | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2020 | ||
Entity File Number | 001-03701 | ||
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 | ||
City Area Code | 509 | ||
Local Phone Number | 489-0500 | ||
Trading Symbol | AVA | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 2,471,363,713 | ||
Entity Common Stock, Shares Outstanding | 69,263,835 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Entity Central Index Key | 0000104918 | ||
Current Fiscal Year End Date | --12-31 | ||
ICFR Auditor Attestation Flag | true | ||
Documents Incorporated by Reference | Documents Incorporated By Reference Document Part of Form 10-K into Which Document is Incorporated Proxy Statement to be filed in connection with the annual meeting of shareholders to be held on May 11, 2021. Prior to such filing, the Proxy Statement filed in connection with the annual meeting of shareholders held on May 11, 2020. Part III, Items 10, 11, 12, 13 and 14 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Utility revenues: | |||
Utility revenues, exclusive of alternative revenue programs | $ 1,324,091 | $ 1,323,524 | $ 1,368,657 |
Alternative revenue programs | (3,814) | 9,614 | 908 |
Total utility revenues | 1,320,277 | 1,333,138 | 1,369,565 |
Non-utility revenues | 1,614 | 12,484 | 27,328 |
Total operating revenues | 1,321,891 | 1,345,622 | 1,396,893 |
Utility operating expenses: | |||
Resource costs | 398,509 | 439,817 | 494,736 |
Other operating expenses | 354,614 | 345,212 | 318,274 |
Merger transaction costs | 19,675 | 3,718 | |
Depreciation and amortization | 223,507 | 205,365 | 182,877 |
Taxes other than income taxes | 106,501 | 105,652 | 107,295 |
Non-utility operating expenses: | |||
Other operating expenses | 5,344 | 18,883 | 28,081 |
Depreciation and amortization | 716 | 629 | 799 |
Total operating expenses | 1,089,191 | 1,135,233 | 1,135,780 |
Income from operations | 232,700 | 210,389 | 261,113 |
Interest expense | 104,348 | 103,012 | 99,715 |
Interest expense to affiliated trusts | 713 | 1,342 | 1,221 |
Capitalized interest | (4,083) | (4,174) | (3,939) |
Merger termination fee | (103,000) | ||
Other expense (income)-net | (4,817) | (14,928) | 1,458 |
Income before income taxes | 136,539 | 228,137 | 162,658 |
Income tax expense | 7,051 | 31,374 | 26,060 |
Net income | 129,488 | 196,763 | 136,598 |
Net loss (income) attributable to noncontrolling interests | 216 | (169) | |
Net income attributable to Avista Corp. shareholders | $ 129,488 | $ 196,979 | $ 136,429 |
Weighted-average common shares outstanding (thousands), basic | 67,962 | 66,205 | 65,673 |
Weighted-average common shares outstanding (thousands), diluted | 68,102 | 66,329 | 65,946 |
Earnings per common share attributable to Avista Corp. shareholders: | |||
Basic | $ 1.91 | $ 2.98 | $ 2.08 |
Diluted | $ 1.90 | $ 2.97 | $ 2.07 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement Of Income And Comprehensive Income [Abstract] | |||
Net income | $ 129,488 | $ 196,763 | $ 136,598 |
Other Comprehensive Income (Loss): | |||
Change in unfunded benefit obligation for pension and other postretirement benefit plans - net of taxes of $(1,095), $(636) and $523, respectively | (4,119) | (2,393) | 1,966 |
Total other comprehensive income (loss) | (4,119) | (2,393) | 1,966 |
Comprehensive income | 125,369 | 194,370 | 138,564 |
Comprehensive loss (income) attributable to noncontrolling interests | 216 | (169) | |
Comprehensive income attributable to Avista Corporation shareholders | $ 125,369 | $ 194,586 | $ 138,395 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement Of Income And Comprehensive Income [Abstract] | |||
Other Comprehensive Income (Loss), Defined Benefit Plan, after Reclassification Adjustment, Tax | $ (1,095) | $ (636) | $ 523 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Current Assets: | ||
Cash and cash equivalents | $ 14,196 | $ 9,896 |
Accounts and notes receivable, net | 163,772 | 166,657 |
Materials and supplies, fuel stock and stored natural gas | 67,451 | 66,583 |
Regulatory assets | 13,673 | 21,851 |
Other current assets | 84,885 | 40,142 |
Total current assets | 343,977 | 305,129 |
Net utility property | 4,991,612 | 4,797,007 |
Goodwill | 52,426 | 52,426 |
Non-current regulatory assets | 750,443 | 670,802 |
Other property and investments-net and other non-current assets | 263,639 | 257,092 |
Total assets | 6,402,097 | 6,082,456 |
Current Liabilities: | ||
Accounts payable | 106,613 | 110,219 |
Current portion of long-term debt | 52,000 | |
Short-term borrowings | 203,000 | 185,800 |
Regulatory liabilities | 46,435 | 51,715 |
Other current liabilities | 149,831 | 130,979 |
Total current liabilities | 505,879 | 530,713 |
Long-term debt | 2,008,534 | 1,843,768 |
Long-term debt to affiliated trusts | 51,547 | 51,547 |
Pensions and other postretirement benefits | 211,880 | 212,006 |
Deferred income taxes | 594,712 | 528,513 |
Non-current regulatory liabilities | 784,820 | 775,436 |
Other non-current liabilities and deferred credits | 214,999 | 201,189 |
Total liabilities | 4,372,371 | 4,143,172 |
Commitments and Contingencies (See Notes to Consolidated Financial Statements) | ||
Avista Corporation Shareholders’ Equity: | ||
Common stock, no par value; 200,000,000 shares authorized; 69,238,901 and 67,176,996 shares issued and outstanding, respectively | 1,286,068 | 1,210,741 |
Accumulated other comprehensive loss | (14,378) | (10,259) |
Retained earnings | 758,036 | 738,802 |
Total equity | 2,029,726 | 1,939,284 |
Total liabilities and equity | $ 6,402,097 | $ 6,082,456 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Statement Of Financial Position [Abstract] | ||
Common stock, par value | $ 0 | $ 0 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares, issued | 69,238,901 | 67,176,996 |
Common stock, shares outstanding | 69,238,901 | 67,176,996 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Operating Activities: | |||
Net income | $ 129,488 | $ 196,763 | $ 136,598 |
Non-cash items included in net income: | |||
Depreciation and amortization | 224,223 | 205,994 | 187,318 |
Provision for deferred income taxes | 44,964 | 15,098 | 8,570 |
Power and natural gas cost amortizations (deferrals), net | (9,923) | (45,917) | 10,263 |
Amortization of debt expense | 3,237 | 2,680 | 2,967 |
Amortization of investment in exchange power | 1,633 | 2,450 | |
Stock-based compensation expense | 5,846 | 11,353 | 5,367 |
Equity-related AFUDC | (6,970) | (6,585) | (6,554) |
Pension and other postretirement benefit expense | 33,812 | 36,417 | 32,017 |
Other regulatory assets and liabilities and deferred debits and credits | 10,287 | 65 | 27,512 |
Change in decoupling regulatory deferral | 2,971 | (10,327) | (1,288) |
Gain on sale of investments | (4,795) | (7,450) | |
Other | 1,998 | (13,526) | 1,114 |
Contributions to defined benefit pension plan | (22,000) | (22,000) | (22,000) |
Cash paid on settlement of interest rate swap agreements | (33,499) | (13,325) | (32,174) |
Cash received on settlement of interest rate swap agreements | 5,594 | ||
Changes in certain current assets and liabilities: | |||
Accounts and notes receivable | (10,960) | (4,366) | 15,474 |
Materials and supplies, fuel stock and stored natural gas | (868) | (6,148) | (5,807) |
Collateral posted for derivative instruments | 1,579 | 63,974 | (4,128) |
Income taxes receivable | (41,363) | (8,736) | 2,021 |
Other current assets | (2,401) | (3,657) | (2,589) |
Accounts payable | (10,152) | 7,471 | (470) |
Other current liabilities | 15,530 | (1,199) | (370) |
Net cash provided by operating activities | 331,004 | 398,212 | 361,885 |
Investing Activities: | |||
Utility property capital expenditures (excluding equity-related AFUDC) | (404,306) | (442,510) | (424,350) |
Issuance of notes receivable by subsidiaries | (4,393) | (7,303) | (3,555) |
Equity and property investments made by subsidiaries | (5,925) | (13,508) | (13,283) |
Proceeds from sale of investments | 6,786 | 16,407 | |
Other | (2,905) | 1,403 | 756 |
Net cash used in investing activities | (410,743) | (445,511) | (440,432) |
Financing Activities: | |||
Net increase (decrease) in short-term borrowings | 17,200 | (4,200) | 84,603 |
Proceeds from issuance of long-term debt | 165,000 | 180,000 | 374,621 |
Maturity of long-term debt and finance leases | (54,800) | (92,660) | (277,438) |
Issuance of common stock, net of issuance costs | 72,200 | 64,573 | 1,207 |
Cash dividends paid | (110,254) | (102,772) | (98,046) |
Other | (5,307) | (2,402) | (7,916) |
Net cash provided by financing activities | 84,039 | 42,539 | 77,031 |
Net increase (decrease) in cash and cash equivalents | 4,300 | (4,760) | (1,516) |
Cash and cash equivalents at beginning of year | 9,896 | 14,656 | 16,172 |
Cash and cash equivalents at end of year | 14,196 | 9,896 | 14,656 |
Cash paid (received) during the year: | |||
Interest | 97,717 | 99,060 | 97,437 |
Income taxes paid | 1,901 | 26,764 | 17,801 |
Income tax refunds | (918) | (979) | (3,025) |
Non-cash financing and investing activities: | |||
Accounts payable for capital expenditures | $ 32,039 | $ 25,644 | $ 31,868 |
CONSOLIDATED STATEMENTS OF EQUI
CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Accumulated Other Comprehensive Loss [Member] | Retained Earnings [Member] | Noncontrolling Interests [Member] |
Beginning Balance (in shares) at Dec. 31, 2017 | 65,494,333 | ||||
Shares issued through equity compensation plans | 185,794 | ||||
Shares issued through Employee Investment Plan (401-K) | 8,229 | ||||
Ending Balance (in shares) at Dec. 31, 2018 | 65,688,356 | ||||
Beginning Balance at Dec. 31, 2017 | $ 1,133,448 | $ (8,090) | $ 604,470 | ||
Equity compensation expense | 5,765 | ||||
Issuance of common stock through equity compensation plans | 791 | ||||
Issuance of common stock through Employee Investment Plan (401-K) | 416 | ||||
Payment of minimum tax withholdings for share-based payment awards | (3,929) | ||||
Ending Balance at Dec. 31, 2018 | $ 1,774,045 | $ 1,136,491 | (7,866) | 644,595 | |
Other comprehensive income (loss) | 1,966 | 1,966 | |||
Reclassification of excess income tax benefits | (1,742) | 1,742 | |||
Net income attributable to Avista Corporation shareholders | 136,429 | 136,429 | |||
Cash dividends paid (common stock) | (98,046) | ||||
Beginning Balance Noncontrolling Interest at Dec. 31, 2017 | $ 656 | ||||
Net income attributable to noncontrolling interests | $ 169 | ||||
Ending Balance Noncontrolling Interest at Dec. 31, 2018 | $ 825 | ||||
Dividends declared per common share | $ 1.49 | ||||
Total Avista Corporation shareholders’ equity | $ 1,773,220 | ||||
Shares issued through equity compensation plans | 75,399 | ||||
Shares issued through Employee Investment Plan (401-K) | 3,653 | ||||
Shares issued through sales agency agreements | 1,409,588 | ||||
Ending Balance (in shares) at Dec. 31, 2019 | 67,176,996 | 67,176,996 | |||
Equity compensation expense | $ 10,568 | ||||
Issuance of common stock through equity compensation plans | 827 | ||||
Issuance of common stock through Employee Investment Plan (401-K) | 175 | ||||
Issuance of common stock through sales agency agreements, net of issuance costs | 63,571 | ||||
Payment of minimum tax withholdings for share-based payment awards | (891) | ||||
Ending Balance at Dec. 31, 2019 | $ 1,939,284 | $ 1,210,741 | (10,259) | 738,802 | |
Other comprehensive income (loss) | (2,393) | (2,393) | |||
Net income attributable to Avista Corporation shareholders | 196,979 | 196,979 | |||
Cash dividends paid (common stock) | (102,772) | ||||
Net income attributable to noncontrolling interests | (216) | ||||
Deconsolidation of noncontrolling interests related to sale of METALfx | $ (609) | ||||
Dividends declared per common share | $ 1.55 | ||||
Total Avista Corporation shareholders’ equity | $ 1,939,284 | ||||
Shares issued through equity compensation plans | 139,726 | ||||
Shares issued through Employee Investment Plan (401-K) | 17,179 | ||||
Shares issued through sales agency agreements | 1,905,000 | ||||
Ending Balance (in shares) at Dec. 31, 2020 | 69,238,901 | 69,238,901 | |||
Equity compensation expense | $ 5,535 | ||||
Issuance of common stock through equity compensation plans | 965 | ||||
Issuance of common stock through Employee Investment Plan (401-K) | 674 | ||||
Issuance of common stock through sales agency agreements, net of issuance costs | 70,561 | ||||
Payment of minimum tax withholdings for share-based payment awards | (2,408) | ||||
Ending Balance at Dec. 31, 2020 | $ 2,029,726 | $ 1,286,068 | (14,378) | 758,036 | |
Other comprehensive income (loss) | (4,119) | $ (4,119) | |||
Net income attributable to Avista Corporation shareholders | $ 129,488 | 129,488 | |||
Cash dividends paid (common stock) | $ (110,254) | ||||
Dividends declared per common share | $ 1.62 | ||||
Total Avista Corporation shareholders’ equity | $ 2,029,726 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1. 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 24 for business segment information. See Note 26 for discussion of the sale of METALfx, which was an unregulated subsidiary of the Company. Basis of Reporting The 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 consolidated financial statements include the Company’s proportionate share of utility plant and related operations resulting from its interests in jointly owned plants (see Note 8). Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported for assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include: • determining the market value of energy commodity derivative assets and liabilities, • pension and other postretirement benefit plan obligations, • contingent liabilities, • goodwill impairment testing, • recoverability of regulatory assets, and • unbilled revenues. Changes in these estimates and assumptions are considered reasonably possible and may have a material effect on the consolidated financial statements and thus actual results could differ from the amounts reported and disclosed herein. Regulation The Company is subject to state regulation in Washington, Idaho, Montana, Oregon and Alaska. The Company is also subject to federal regulation primarily by the FERC, as well as various other federal agencies with regulatory oversight of particular aspects of its operations. Depreciation For utility operations, depreciation expense is estimated by a method of depreciation accounting utilizing composite rates for utility plant. Such rates are designed to provide for retirements of properties at the expiration of their service lives. For utility operations, the ratio of depreciation provisions to average depreciable property was as follows for the years ended December 31: 2020 2019 2018 Avista Utilities Ratio of depreciation to average depreciable property 3.43 % 3.28 % 3.17 % Alaska Electric Light and Power Company Ratio of depreciation to average depreciable property 2.77 % 2.48 % 2.46 % The average service lives for the following broad categories of utility plant in service are (in years): Avista Utilities Alaska Electric Light and Power Company Electric thermal/other production 27 42 Hydroelectric production 81 42 Electric transmission 49 43 Electric distribution 39 40 Natural gas distribution property 44 N/A Other shorter-lived general plant 8 18 Allowance for Funds Used During Construction AFUDC represents the cost of both the debt and equity funds used to finance utility plant additions during the construction period. As prescribed by regulatory authorities, AFUDC is capitalized as a part of the cost of utility plant. The debt component of AFUDC is credited against total interest expense in the Consolidated Statements of Income in the line item “capitalized interest.” The equity component of AFUDC is included in the Consolidated Statements of Income in the line item “other expense (income)-net.” The Company is permitted, under established regulatory rate practices, to recover the capitalized AFUDC, and a reasonable return thereon, through its inclusion in rate base and the provision for depreciation after the related utility plant is placed in service. Cash inflow related to AFUDC does not occur until the related utility plant is placed in service and included in rate base. The WUTC and IPUC have authorized Avista Utilities to calculate AFUDC using its allowed rate of return. To the extent amounts calculated using this rate exceed the AFUDC amounts calculated using the FERC formula, Avista Utilities capitalizes the excess as a regulatory asset. The regulatory asset associated with plant in service is amortized over the average useful life of Avista Utilities' utility plant which is approximately 30 years. The regulatory asset associated with construction work in progress is not amortized until the plant is placed in service. The effective AFUDC rate was the following for the years ended December 31: 2020 2019 2018 Avista Utilities Effective state AFUDC rate 7.25 % 7.39 % 7.43 % Alaska Electric Light and Power Company Effective AFUDC rate 8.04 % 8.96 % 9.04 % Income Taxes Deferred income tax assets represent future income tax deductions the Company expects to utilize in future tax returns to reduce taxable income. Deferred income tax liabilities represent future taxable income the Company expects to recognize in future tax returns. Deferred tax assets and liabilities arise when there are temporary differences resulting from differing treatment of items for tax and accounting purposes. A deferred income tax asset or liability is determined based on the enacted tax rates that will be in effect when the temporary differences between the financial statement carrying amounts and tax basis of existing assets and liabilities are expected to be reported in the Company’s consolidated income tax returns. The deferred income tax expense for the period is equal to the net change in the deferred income tax asset and liability accounts from the beginning to the end of the period. The effect on deferred income taxes from a change in tax rates is recognized in income in the period that includes the enactment date unless a regulatory order specifies deferral of the effect of the change in tax rates over a longer period of time. The Company establishes a valuation allowance when it is more likely than not that all, or a portion, of a deferred tax asset will not be realized. Deferred income tax liabilities and regulatory assets are established for income tax benefits flowed through to customers. The Company's largest deferred income tax item is the difference between the book and tax basis of utility plant. This item results from the temporary difference on depreciation expense. In early tax years, this item is recorded as a deferred income tax liability that will eventually reverse and become subject to income tax in later tax years. The Company did not incur any penalties on income tax positions in 2020, 2019 or 2018. The Company would recognize interest accrued related to income tax positions as interest expense and any penalties incurred as other operating expense. Stock-Based Compensation The Company currently issues three types of stock-based compensation awards - restricted shares, market-based awards and performance-based awards. Historically, these stock compensation awards have not been material to the Company's overall financial results. Compensation cost relating to share-based payment transactions is recognized in the Company’s financial statements based on the fair value of the equity or liability instruments issued and recorded over the requisite service period. The Company recorded stock-based compensation expense (included in other operating expenses) and income tax benefits in the Consolidated Statements of Income of the following amounts for the years ended December 31 (dollars in thousands): 2020 2019 2018 Stock-based compensation expense $ 5,846 $ 11,353 $ 5,367 Income tax benefits 1,228 2,384 1,127 Excess tax benefits (expenses) on settled share-based employee payments (165 ) (612 ) 990 Restricted share awards vest in equal thirds each year over 3 years and are payable in Avista Corp. common stock at the end of each year if the service condition is met. In addition to the service condition, for restricted shares granted in 2017, the Company must meet a return on equity target in order for the Chief Executive Officer's restricted shares to vest. Restricted stock is valued at the close of market of the Company’s common stock on the grant date. Total Shareholder Return (TSR) awards are market-based awards and Cumulative Earnings Per Share (CEPS) awards are performance awards. Both types of awards vest after a period of 3 years and are payable in cash or Avista Corp. common stock at the end of the three-year period. The method of settlement is at the discretion of the Company and historically the Company has settled these awards through issuance of Avista Corp. common stock and intends to continue this practice. Both types of awards entitle the recipients to dividend equivalent rights, are subject to forfeiture under certain circumstances, and are subject to meeting specific market or performance conditions. Based on the level of attainment of the market or performance conditions, the amount of cash paid or common stock issued will range from 0 to 200 percent of the initial awards granted. Dividend equivalent rights are accumulated and paid out only on shares that eventually vest and have met the market and performance conditions. For both the TSR awards and the CEPS awards, the Company accounts for them as equity awards and compensation cost for these awards is recognized over the requisite service period, provided that the requisite service period is rendered. For TSR awards, if the market condition is not met at the end of the three-year service period, there will be no change in the cumulative amount of compensation cost recognized, since the awards are still considered vested even though the market metric was not met. For CEPS awards, at the end of the three-year service period, if the internal performance metric of cumulative earnings per share is not met, all compensation cost for these awards is reversed as these awards are not considered vested. The fair value of each TSR award is estimated on the date of grant using a statistical model that incorporates the probability of meeting the market targets based on historical returns relative to a peer group. The estimated fair value of the equity component of CEPS awards was estimated on the date of grant as the share price of Avista Corp. common stock on the date of grant, less the net present value of the estimated dividends over the three-year period. The following table summarizes the number of grants, vested and unvested shares, earned shares (based on market metrics), and other pertinent information related to the Company's stock compensation awards for the years ended December 31: 2020 2019 2018 Restricted Shares Shares granted during the year 45,540 50,061 40,661 Shares vested during the year 56,203 48,228 53,352 Unvested shares at end of year 71,706 93,351 91,998 Unrecognized compensation expense at end of year (in thousands) $ 2,003 $ 2,054 $ 1,964 TSR Awards TSR shares granted during the year 47,848 99,214 80,724 TSR shares vested during the year (1) 71,299 106,858 107,342 Unvested TSR shares at end of year 122,133 178,035 187,172 Unrecognized compensation expense (in thousands) $ 2,296 $ 3,377 $ 3,706 CEPS Awards CEPS shares granted during the year 47,848 49,609 40,329 CEPS shares vested during the year 35,622 53,454 53,699 CEPS shares earned based on market metrics 63,763 106,908 30,102 Unvested CEPS shares at end of year 83,464 88,990 93,579 Unrecognized compensation expense (in thousands) $ 1,090 $ 2,401 $ 1,260 (1) The market metrics were not met during 2020, 2019 and 2018 and no TRS shares were earned during these periods. Outstanding TSR and CEPS share awards include a dividend component that is paid in cash. This component of the share grants is accounted for as a liability award. These liability awards are revalued on a quarterly basis taking into account the number of awards outstanding, historical dividend rate, the change in the value of the Company’s common stock relative to an external benchmark (TSR awards only) and the amount of CEPS earned to date compared to estimated CEPS over the performance period (CEPS awards only). Over the life of these awards, the cumulative amount of compensation expense recognized will match the actual cash paid. As of December 31, 2020 and 2019, the Company had recognized cumulative compensation expense and a liability of $0.8 million and $0.9 million, respectively, related to the dividend component on the outstanding and unvested share grants. Other Expense (Income) - Net Other Expense (Income) - net consisted of the following items for the years ended December 31 (dollars in thousands): 2020 2019 2018 Interest income $ (1,952 ) $ (2,587 ) $ (2,710 ) Interest on regulatory deferrals (1,222 ) (1,460 ) (990 ) Equity-related AFUDC (6,970 ) (6,585 ) (6,554 ) Non-service portion of pension and other postretirement benefit expenses 6,433 8,899 5,156 Net (income) loss on investments (905 ) (14,299 ) 5,369 Other expense (income) (201 ) 1,104 1,187 Total $ (4,817 ) $ (14,928 ) $ 1,458 Earnings per Common Share Attributable to Avista Corporation Shareholders Basic earnings per common share attributable to Avista Corp. shareholders is computed by dividing net income attributable to Avista Corp. shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share attributable to Avista Corp. shareholders is calculated by dividing net income attributable to Avista Corp. shareholders by diluted weighted-average common shares outstanding during the period, including common stock equivalent shares outstanding using the treasury stock method, unless such shares are anti-dilutive. Common stock equivalent shares include shares issuable under contingent stock awards. See Note 21 for earnings per common share calculations. Cash and Cash Equivalents For the purposes of the Consolidated Statements of Cash Flows, the Company considers all temporary investments with a maturity of three months or less when purchased to be cash equivalents. Allowance for Doubtful Accounts The Company maintains an allowance for doubtful accounts to provide for estimated and potential losses on accounts receivable. The Company determines the allowance for utility and other customer accounts receivable based on historical write-offs as compared to accounts receivable and operating revenues. Additionally, the Company establishes specific allowances for certain individual accounts. The following table presents the activity in the allowance for doubtful accounts during the years ended December 31 (dollars in thousands): 2020 2019 2018 Allowance as of the beginning of the year $ 2,419 $ 5,233 $ 5,132 Additions expensed during the year (1) 11,280 460 3,917 Net deductions (2,312 ) (3,274 ) (3,816 ) Allowance as of the end of the year $ 11,387 $ 2,419 $ 5,233 (1) Increase in 2020 related to COVID-19, bad debt expense in excess of the amount recovered through rates of $7.1 million, was deferred as a regulatory asset. Utility Plant in Service The cost of additions to utility plant in service, including an allowance for funds used during construction and replacements of units of property and improvements, is capitalized. The cost of depreciable units of property retired plus the cost of removal less salvage is charged to accumulated depreciation. Asset Retirement Obligations The Company records the fair value of a liability for an ARO in the period in which it is incurred. When the liability is initially recorded, the associated costs of the ARO are capitalized as part of the carrying amount of the related long-lived asset. The liability is accreted to its present value each period and the related capitalized costs are depreciated over the useful life of the related asset. In addition, if there are changes in the estimated timing or estimated costs of the AROs, adjustments are recorded during the period new information becomes available as an increase or decrease to the liability, with the offset recorded to the related long-lived asset. Upon retirement of the asset, the Company either settles the ARO for its recorded amount or recognizes a regulatory asset or liability for the difference, which will be surcharged/refunded to customers through the ratemaking process. The Company records regulatory assets and liabilities for the difference between asset retirement costs currently recovered in rates and AROs recorded since asset retirement costs are recovered through rates charged to customers (see Note 10 for further discussion of the Company's AROs). The Company recovers certain asset retirement costs through rates charged to customers as a portion of its depreciation expense for which the Company has not recorded asset retirement obligations. The Company has recorded the amount of estimated retirement costs collected from customers (that do not represent legal or contractual obligations) and included them as a non-current regulatory liability on the Consolidated Balance Sheets in the following amounts as of December 31 (dollars in thousands): Goodwill Goodwill arising from acquisitions represents the future economic benefit arising from other assets acquired in a business combination that are not individually identified and separately recognized. The Company evaluates goodwill for impairment using a fair value to carrying amount comparison (Step 1). The Company completed its annual evaluation of goodwill for potential impairment as of November 30, 2020 and determined that goodwill was not impaired at that time (carrying value was less than the determined fair value). There were no events or circumstances that changed between November 30, 2020 and December 31, 2020 that would more likely than not reduce the fair values of the reporting units below their carrying amounts. The changes in the carrying amount of goodwill during 2019 and 2020 and the balance was as follows (dollars in thousands): AEL&P Other Accumulated Impairment Losses Total Balance as of January 1, 2019 $ 52,426 $ 12,979 $ (7,733 ) $ 57,672 Goodwill sold during the year — (12,979 ) 7,733 (5,246 ) Balance as of December 2019 $ 52,426 $ — $ — $ 52,426 Balance as of December 31, 2020 $ 52,426 $ — $ — $ 52,426 During the year ended December 31, 2020, there were no changes in the carrying amount of goodwill. During the year ended December 31, 2019, goodwill sold related to the sale of METALfx in April 2019. See Note 26 for further discussion. Accumulated impairment losses were attributable to METALfx, which was a part of the other businesses. Derivative Assets and Liabilities Derivatives are recorded as either assets or liabilities on the 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 rates 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 regulatory asset or liability is amortized as a component of interest expense over the term of the associated debt. The Company records an offset of interest rate swap derivative assets and liabilities with regulatory assets and liabilities, based on the prior practice of the commissions to provide recovery through the ratemaking process. 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 Consolidated Balance Sheets. Fair Value Measurements Fair value represents the price that would be received when selling an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Energy commodity derivative assets and liabilities, deferred compensation assets, as well as derivatives related to interest rate swap derivatives and foreign currency exchange derivatives, are reported at estimated fair value on the Consolidated Balance Sheets. See Note 18 for the Company’s fair value disclosures. Regulatory Deferred Charges and Credits The Company prepares its consolidated financial statements in accordance with regulatory accounting practices because: • rates for regulated services are established by or subject to approval by independent third-party regulators, • the regulated rates are designed to recover the cost of providing the regulated services, and • in view of demand for the regulated services and the level of competition, it is reasonable to assume that rates can be charged to and collected from customers at levels that will recover costs. Regulatory accounting practices require that certain costs and/or obligations (such as incurred power and natural gas costs not currently reflected in rates, but expected to be recovered or refunded in the future), are reflected as deferred charges or credits on the Consolidated Balance Sheets. These costs and/or obligations are not reflected in the Consolidated Statements of Income until the period during which matching revenues are recognized. The Company also has decoupling revenue deferrals. See Note 4 for discussion on decoupling revenue deferrals. If at some point in the future the Company determines that it no longer meets the criteria for continued application of regulatory accounting practices for all or a portion of its regulated operations, the Company could be: • required to write off its regulatory assets, and • precluded from the future deferral of costs or decoupled revenues not recovered through rates at the time such amounts are incurred, even if the Company expected to recover these amounts from customers in the future. See Note 23 for further details of regulatory assets and liabilities. Unamortized Debt Expense Unamortized debt expense includes debt issuance costs that are amortized over the life of the related debt. These costs are recorded as an offset to Long-Term Debt on the Consolidated Balance Sheets. Unamortized Debt Repurchase Costs Premiums paid or discounts received to repurchase debt are amortized over the remaining life of the original debt that was repurchased or, if new debt is issued in connection with the repurchase, these costs are amortized over the life of the new debt. These costs are recovered through retail rates as a component of interest expense. Appropriated Retained Earnings In accordance with the hydroelectric licensing requirements of section 10(d) of the Federal Power Act (FPA), the Company maintains an appropriated retained earnings account for any earnings in excess of the specified rate of return on the Company's investment in the licenses for its various hydroelectric projects. Per section 10(d) of the FPA, the Company must maintain these excess earnings in an appropriated retained earnings account until the termination of the licensing agreements or apply them to reduce the net investment in the licenses of the hydroelectric projects at the discretion of the FERC. The Company calculates the earnings in excess of the specified rate of return on an annual basis, usually during the second quarter. The appropriated retained earnings amounts included in retained earnings were as follows as of December 31 (dollars in thousands): 2020 2019 Appropriated retained earnings $ 47,473 $ 43,151 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. As of December 31, 2020, the Company has not recorded any significant amounts related to unresolved contingencies. See Note 2 2 for further discussion of the Company's commitments and contingencies. COVID-19 In 2020, the WUTC, IPUC, and OPUC approved accounting orders that allow the Company to defer certain net COVID-19 related costs and benefits. As such, as of December 31, 2020, the Company has deferred a net benefit to customers of $2.8 million for all jurisdictions. In Alaska, a Senate Bill was signed into law that provides for deferral and recovery of incremental COVID-19 related costs subject to approval by the RCA. The respective regulatory authorities will determine the appropriateness and prudency of any deferred expenses when the Company seeks recovery. See “Regulatory Deferred Charges and Credits”. |
New Accounting Standards
New Accounting Standards | 12 Months Ended |
Dec. 31, 2020 | |
New Accounting Pronouncements And Changes In Accounting Principles [Abstract] | |
New Accounting Standards | NOTE 2. 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 not material to the financial statements. Adoption of the standard impacted the Company's Consolidated Balance Sheets 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 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 became effective on January 1, 2020 and the requirements of this ASU did not have a material impact on the Company's fair value disclosures. See Note 18 for the Company's fair value disclosures. 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 became effective for periods ending after December 15, 2020 and the requirements of this ASU did not have a material impact on the Company’s disclosures upon adoption. |
Balance Sheet Components
Balance Sheet Components | 12 Months Ended |
Dec. 31, 2020 | |
Balance Sheet Related Disclosures [Abstract] | |
Balance Sheet Components | NOTE 3. 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 December 31 (dollars in thousands): 2020 2019 Materials and supplies $ 53,258 $ 47,402 Fuel stock 4,658 4,875 Stored natural gas 9,535 14,306 Total $ 67,451 $ 66,583 Other Current Assets Other current assets consisted of the following as of December 31 (dollars in thousands): 2020 2019 Collateral posted for derivative instruments after netting with outstanding derivative liabilities $ 4,336 $ 4,434 Prepayments 24,411 19,652 Income taxes receivable 49,814 11,047 Other 6,324 5,009 Total $ 84,885 $ 40,142 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 December 31 (dollars in thousands): 2020 2019 Operating lease ROU assets $ 71,891 $ 69,746 Finance lease ROU assets 47,338 50,980 Non-utility property 19,508 27,159 Equity investments 59,318 51,258 Investment in affiliated trust 11,547 11,547 Notes receivable 14,454 14,060 Deferred compensation assets 9,174 8,948 Assets held for sale (1) 3,462 — Other 26,947 23,394 Total $ 263,639 $ 257,092 (1) The Company is in the process of selling certain subsidiary assets associated with Steam Plant Square and Brew Pub. Other Current Liabilities Other current liabilities consisted of the following as of December 31 (dollars in thousands): 2020 2019 Accrued taxes other than income taxes $ 45,099 $ 36,965 Derivative liabilities 14,008 10,928 Employee paid time off accruals 26,495 22,343 Accrued interest 17,083 16,486 Pensions and other postretirement benefits 11,987 8,826 Other 35,159 35,431 Total $ 149,831 $ 130,979 Other Non-Current Liabilities and Deferred Credits Other non-current liabilities and deferred credits consisted of the following as of December 31 (dollars in thousands): 2020 2019 Operating lease liabilities $ 67,716 $ 65,565 Finance lease liabilities 48,815 51,750 Deferred investment tax credits 29,866 30,444 Asset retirement obligations 17,194 20,338 Derivative liabilities 37,427 19,685 Other 13,981 13,407 Total $ 214,999 $ 201,189 |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2020 | |
Revenue From Contract With Customer [Abstract] | |
Revenue | NOTE 4. 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. In addition, the sale of electricity and natural gas is governed by the various state utility commissions, which set rates, charges, terms and conditions of service, and prices. Collectively, these rates, charges, terms and conditions are included in a “tariff,” which governs all aspects of the provision of regulated services. Tariffs are only permitted to be changed through a rate-setting process involving an independent, third-party regulator empowered by statute to establish rates that bind customers. Thus, all regulated sales by the Company are conducted subject to the regulator-approved tariff. Tariff sales involve the current provision of commodity service (electricity and/or natural gas) to customers for a price that generally has a basic charge and a usage-based component. Tariff rates also include certain pass-through costs to customers such as natural gas costs, retail revenue credits and other miscellaneous regulatory items that do not impact net income, but can cause total revenue to fluctuate significantly up or down compared to previous periods. The commodity is sold and/or delivered to and consumed by the customer simultaneously, and the provisions of the relevant tariff determine the charges the Company may bill the customer, payment due date, and other pertinent rights and obligations of both parties. Generally, tariff sales do not involve a written contract. 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 Consolidated Statements of Income in the line item "Utility revenues, exclusive of alternative revenue programs." Unbilled Revenue from Contracts with Customers The determination of the volume of energy sales to individual customers is based on the reading of their meters, which occurs on a systematic basis throughout the month (once per month for each individual customer). At the end of each calendar month, the amount of energy delivered to customers since the date of the last meter reading is estimated and the corresponding unbilled revenue is estimated and recorded. The Company's estimate of unbilled revenue is based on: • the number of customers, • current rates, • meter reading dates, • actual native load for electricity, • actual throughput for natural gas, and • electric line losses and natural gas system losses. Any difference between actual and estimated revenue is automatically corrected in the following month when the actual meter reading and customer billing occurs. Accounts receivable includes unbilled energy revenues of the following amounts as of December 31 (dollars in thousands): 2020 2019 Unbilled accounts receivable $ 71,258 $ 63,259 Non-Derivative Wholesale Contracts The Company has certain wholesale contracts which are not accounted for as derivatives that 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 specified period of time, consistent with the discussion of tariff sales above. Alternative Revenue Programs (Decoupling) ASC 606 specifies 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 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 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 which 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 Consolidated Statements 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 which 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. The Company records alternative program revenues under the gross method, which is to amortize the decoupling regulatory asset/liability to the alternative revenue program line item on the Consolidated Statements of Income as it is collected from or refunded to customers. The cash passing between the Company and the customers is presented in revenue from contracts with customers since it is a portion of the overall tariff paid by customers. This method results in a gross-up to both revenue from contracts with customers and revenue from alternative revenue programs, but has a net zero impact on total revenue. Depending on whether the previous deferral balance being amortized was a regulatory asset or regulatory liability, and depending on the size and direction of the current year deferral of surcharges and/or rebates to customers, it could result in negative alternative revenue program revenue during the year. 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 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 which 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 Considerations for Utility Revenues Contracts with Multiple Performance Obligations In addition to the tariff sales described above, which are stand-alone energy sales, the Company has bundled arrangements which contain multiple performance obligations including some combination of energy, capacity, energy reserves and RECs. Under these arrangements, the total contract price is allocated to the various performance obligations and revenue is recognized as the obligations are satisfied. Depending on the source of the revenue, it could either be included in revenue from contracts with customers or derivative revenue. 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 years ended December 31 (dollars in thousands): 2020 2019 2018 Utility-related taxes $ 59,319 $ 59,528 $ 58,730 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 26 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. Other Revenue Other non-utility revenue primarily relates to rent revenue, which is scoped out of ASC 606; therefore, this revenue is presented separately from revenue from contracts with customers. Significant Judgments and Unsatisfied Performance Obligations The vast majority of the Company's revenues are derived from the rate-regulated sale of electricity and natural gas that have two performance obligations that are satisfied throughout the period and as energy is delivered to customers. In addition, the customers do not pay for energy in advance of receiving it. As such, the Company does not have any significant unsatisfied performance obligations or deferred revenues as of period-end associated with these revenues. Also, the only significant judgments involving revenue recognition are estimates surrounding unbilled revenue and receivables from contracts with customers (discussed in detail above) and estimates surrounding the amount of decoupling revenues which will be collected from customers within 24 months. 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 December 31, 2020, the Company estimates it had unsatisfied capacity performance obligations of $23.8 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 years ended December 31 (dollars in thousands): 2020 2019 2018 Avista Utilities Revenue from contracts with customers $ 1,157,746 $ 1,152,125 $ 1,147,935 Derivative revenues 110,313 118,741 186,459 Alternative revenue programs (3,814 ) 9,614 908 Deferrals and amortizations for rate refunds to customers 5,335 4,509 (18,241 ) Other utility revenues 7,888 10,884 8,905 Total Avista Utilities 1,277,468 1,295,873 1,325,966 AEL&P Revenue from contracts with customers 42,624 36,779 44,758 Deferrals and amortizations for rate refunds to customers (190 ) (190 ) (1,753 ) Other utility revenues 375 676 594 Total AEL&P 42,809 37,265 43,599 Other Revenue from contracts with customers 564 11,286 26,154 Other revenues 1,050 1,198 1,174 Total Other 1,614 12,484 27,328 Total operating revenues $ 1,321,891 $ 1,345,622 $ 1,396,893 Utility Revenue from Contracts with Customers by Type and Service The following table disaggregates revenue from contracts with customers associated with the Company's electric operations for the years ended December 31 (dollars in thousands): 2020 2019 2018 Avista Utilities AEL&P Total Utility Avista Utilities AEL&P Total Utility Avista Utilities AEL&P Total Utility ELECTRIC OPERATIONS Revenue from contracts with customers Residential $ 377,785 $ 18,618 $ 396,403 $ 369,102 $ 17,134 $ 386,236 $ 368,753 $ 18,506 $ 387,259 Commercial and governmental 303,972 23,754 327,726 317,589 19,391 336,980 314,532 25,989 340,521 Industrial 103,103 — 103,103 105,802 — 105,802 109,846 — 109,846 Public street and highway lighting 7,303 252 7,555 7,448 254 7,702 7,539 263 7,802 Total retail revenue 792,163 42,624 834,787 799,941 36,779 836,720 800,670 44,758 845,428 Transmission 18,236 — 18,236 18,180 — 18,180 17,864 — 17,864 Other revenue from contracts with customers 19,252 — 19,252 26,969 — 26,969 27,364 — 27,364 Total revenue from contracts with customers $ 829,651 $ 42,624 $ 872,275 $ 845,090 $ 36,779 $ 881,869 $ 845,898 $ 44,758 $ 890,656 The following table disaggregates revenue from contracts with customers associated with the Company's natural gas operations for the years ended December 31 (dollars in thousands): 2020 2019 2018 Avista Utilities Avista Utilities Avista Utilities NATURAL GAS OPERATIONS Revenue from contracts with customers Residential $ 213,612 $ 196,430 $ 194,340 Commercial 94,937 92,168 89,341 Industrial and interruptible 7,128 5,263 4,753 Total retail revenue 315,677 293,861 288,434 Transportation 7,917 8,674 9,103 Other revenue from contracts with customers 4,501 4,500 4,500 Total revenue from contracts with customers $ 328,095 $ 307,035 $ 302,037 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Leases | NOTE 5. 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 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. The Company 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 included 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 73 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 Consolidated Balance Sheets. Total short-term lease costs for the year ended December 31, 2020 are immaterial. Finance Lease AEL&P 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 GAAP (interest expense 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 Consolidated Statements of Income. The components of lease expense were as follows for the year ended December 31 (dollars in thousands): 2020 2019 Operating lease cost: Fixed lease cost (Other operating expenses) $ 4,746 $ 4,425 Variable lease cost (Other operating expenses) 1,099 988 Total operating lease cost $ 5,845 $ 5,413 Finance lease cost: Amortization of ROU asset (Depreciation and amortization) $ 3,641 $ 3,641 Interest on lease liabilities (Interest expense) 2,662 2,795 Total finance lease cost $ 6,303 $ 6,436 Supplemental cash flow information related to leases was as follows for the year ended December 31 (dollars in thousands): 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows: Operating lease payments $ 4,612 $ 4,375 Interest on finance lease 2,662 2,795 Total operating cash outflows $ 7,274 $ 7,170 Finance cash outflows: Principal payments on finance lease $ 2,800 $ 2,660 Supplemental balance sheet information related to leases was as follows for December 31 (dollars in thousands): December 31, December 31, 2020 2019 Operating Leases Operating lease ROU assets (Other property and investments-net and other non-current assets) $ 71,891 $ 69,746 Other current liabilities $ 4,249 $ 4,128 Other non-current liabilities and deferred credits 67,716 65,565 Total operating lease liabilities $ 71,965 $ 69,693 Finance Leases Finance lease ROU assets (Other property and investments-net and other non-current assets) $ 47,338 $ 50,980 Other current liabilities $ 2,935 $ 2,800 Other non-current liabilities and deferred credits 48,815 51,750 Total finance lease liabilities $ 51,750 $ 54,550 Weighted Average Remaining Lease Term Operating leases 25.20 years 26.60 years Finance leases 7.22 years 8.27 years Weighted Average Discount Rate Operating leases 4.28 % 3.82 % Finance leases 4.62 % 4.88 % Maturities of lease liabilities (including principal and interest) were as follows as of December 31, 2020 (dollars in thousands): Operating Leases Finance Leases 2021 $ 4,779 $ 5,457 2022 4,799 5,460 2023 4,827 5,456 2024 4,852 5,459 2025 4,865 5,454 Thereafter 96,734 43,661 Total lease payments $ 120,856 $ 70,947 Less: imputed interest (48,891 ) (19,197 ) Total $ 71,965 $ 51,750 Maturities of lease liabilities (including principal and interest) were as follows as of December 31, 2019 (dollars in thousands): Operating Leases Finance Leases 2020 $ 4,372 $ 5,462 2021 4,375 5,457 2022 4,383 5,460 2023 4,399 5,456 2024 4,411 5,459 Thereafter 91,654 49,115 Total lease payments $ 113,594 $ 76,409 Less: imputed interest (43,901 ) (21,859 ) Total $ 69,693 $ 54,550 |
Variable Interest Entities
Variable Interest Entities | 12 Months Ended |
Dec. 31, 2020 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Variable Interest Entities | NOTE 6. VARIABLE INTEREST ENTITIES Lancaster Power Purchase Agreement The Company has a PPA for the purchase of all the output of the Lancaster Plant, a 270 MW natural gas-fired combined cycle combustion turbine plant located in Kootenai County, Idaho, owned by an unrelated third-party (Rathdrum Power LLC), through 2026. Avista Corp. has a variable interest in the PPA. Accordingly, Avista Corp. made an evaluation of which interest holders have the power to direct the activities that most significantly impact the economic performance of the entity and which interest holders have the obligation to absorb losses or receive benefits that could be significant to the entity. Avista Corp. pays a fixed capacity and operations and maintenance payment and certain monthly variable costs under the PPA. Under the terms of the PPA, Avista Corp. makes the dispatch decisions, provides all natural gas fuel and receives all of the electric energy output from the Lancaster Plant. However, Rathdrum Power LLC (the owner) controls the daily operation of the Lancaster Plant and makes operating and maintenance decisions. Rathdrum Power LLC controls all of the rights and obligations of the Lancaster Plant after the expiration of the PPA in 2026 and Avista Corp. does not have any further obligations after the expiration. It is estimated that the plant will have 15 to 25 years of useful life after that time. Rathdrum Power LLC bears the maintenance risk of the plant and will receive the residual value of the Lancaster Plant. Avista Corp. has no debt or equity investments in the Lancaster Plant and does not provide financial support through liquidity arrangements or other commitments (other than the PPA). Based on its analysis, Avista Corp. does not consider itself to be the primary beneficiary of the Lancaster Plant. Accordingly, neither the Lancaster Plant nor Rathdrum Power LLC is included in Avista Corp.’s consolidated financial statements. The Company has a future contractual obligation of $175.1 million under the PPA (representing the fixed capacity and operations and maintenance payments through 2026) and believes this would be its maximum exposure to loss. However, the Company believes that such costs will be recovered through retail rates. Limited Partnerships and Similar Entities Under current GAAP, a limited partnership or similar legal entity that is the functional equivalent of a limited partnership is considered a VIE regardless of whether it otherwise qualifies as a voting interest entity unless a simple majority or lower threshold of the “unrelated” limited partners (i.e., parties other than the general partner, entities under common control with the general partner, and other parties acting on behalf of the general partner) have substantive kick-out rights (including liquidation rights) or participating rights. As of December 31, 2020, the Company has thirteen investments in limited partnerships (or the functional equivalent) where Avista Corp. is a limited partner investor in an investment fund where the general partner makes all of the investment and operating decisions with regards to the partnership and fund. To remove the general partner from any of the funds, approval from greater than a simple majority of the limited partners is required. As such, the limited partners do not have substantive kick-out rights and these investments are considered VIEs. Consolidation of these VIEs by Avista Corp. is not required because the Company does not have majority ownership in any of the funds, it does not have the power to direct any activities of the funds, and it does not have the power to appoint executive leadership, including the board of directors. Avista Corp. participates in profits and losses of the investment funds based on its ownership percentage and its losses are capped at its total initial investment in the funds. For nine of the thirteen VIEs, Avista Corp. does not have any additional commitments beyond its initial investment. For the other four VIEs, as of December 31, 2020, Avista Corp. has invested $51.2 million, with an additional commitment of $30.7 million remaining to be invested. In addition, the Company is not allowed to withdraw any capital contributions from the investment funds until after the funds' expiration dates and all liabilities of the funds are settled. The expiration dates range from 2021 to 2040, with three investments having no termination date (as they are perpetual). In addition, one of the funds is closed and expired and the Company is awaiting final distribution as soon as the underlying investments are liquidated. As of December 31, 2020, the Company has a total carrying amount in these investment funds of $56.2 million. |
Derivatives and Risk Management
Derivatives and Risk Management | 12 Months Ended |
Dec. 31, 2020 | |
Derivative Instruments And Hedges [Abstract] | |
Derivatives and Risk Management | NOTE 7. 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, the Company 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 three 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 during other times in 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 December 31, 2020 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) MWh Financial (1) MWh Physical (1) mmBTUs Financial (1) mmBTUs 2021 1 224 10,353 65,188 17 451 5,448 39,273 2022 — — 450 25,525 — — 1,360 12,030 2023 — — — 4,950 — — 1,360 900 2024 — — — — — — 1,370 — 2025 — — — — — — 1,115 — As of December 31, 2020, there are no expected deliveries of energy commodity derivatives after 2025. The following table presents the underlying energy commodity derivative volumes as of December 31, 2019 that were 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) MWh Financial (1) MWh Physical (1) mmBTUs Financial (1) mmBTUs 2020 2 442 9,813 78,803 133 1,724 2,984 37,848 2021 — — 153 25,523 — 246 1,040 13,108 2022 — — 225 4,725 — — — 675 As of December 31, 2019, there were no expected deliveries of energy commodity derivatives after 2022. (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 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 December 31 (dollars in thousands): 2020 2019 Number of contracts 22 20 Notional amount (in United States dollars) $ 3,860 $ 5,932 Notional amount (in Canadian dollars) 4,949 7,828 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. These financial derivative instruments 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 the balance sheet date indicated below (dollars in thousands): Balance Sheet Date Number of Contracts Notional Amount Mandatory Cash Settlement Date December 31, 2020 4 45,000 2021 11 120,000 2022 1 10,000 2023 December 31, 2019 7 70,000 2020 3 35,000 2021 10 110,000 2022 See Note 16 for discussion of the bond purchase agreement and the related settlement of interest rate swaps in connection with the pricing of the bonds in June 2020. 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 Consolidated Balance Sheets as of December 31, 2020 and December 31, 2019 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 Consolidated Balance Sheets as of December 31, 2020 (in thousands): Fair Value Derivative and Balance Sheet Location Gross Asset Gross Liability Collateral Netting Net Asset (Liability) on Balance Sheet Foreign currency exchange derivatives Other current assets $ 30 $ — $ — $ 30 Interest rate swap derivatives Other current liabilities — (19,575 ) 8,050 (11,525 ) Other non-current liabilities and deferred credits 952 (32,190 ) — (31,238 ) Energy commodity derivatives Other current assets 9,203 (8,306 ) — 897 Other property and investments-net and other non-current assets 1,755 (1,159 ) — 596 Other current liabilities 11,037 (14,007 ) 487 (2,483 ) Other non-current liabilities and deferred credits 1,725 (8,043 ) 129 (6,189 ) Total derivative instruments recorded on the balance sheet $ 24,702 $ (83,280 ) $ 8,666 $ (49,912 ) The following table presents the fair values and locations of derivative instruments recorded on the Consolidated Balance Sheets as of December 31, 2019 (in thousands): Fair Value Derivative and Balance Sheet Location Gross Asset Gross Liability Collateral Netting Net Asset (Liability) on Balance Sheet Foreign currency exchange derivatives Other current assets $ 97 $ — $ — $ 97 Interest rate swap derivatives Other current assets 589 — — 589 Other current liabilities 238 (9,379 ) 1,316 (7,825 ) Other non-current liabilities and deferred credits 725 (24,677 ) 5,454 (18,498 ) Energy commodity derivatives Other current assets 416 (245 ) — 171 Other property and investments-net and other non-current assets 6,369 (5,446 ) — 923 Other current liabilities 34,760 (41,241 ) 3,378 (3,103 ) Other non-current liabilities and deferred credits 28 (1,215 ) — (1,187 ) Total derivative instruments recorded on the balance sheet $ 43,222 $ (82,203 ) $ 10,148 $ (28,833 ) 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 December 31 (in thousands): 2020 2019 Energy commodity derivatives Cash collateral posted $ 4,953 $ 7,812 Letters of credit outstanding 23,500 17,400 Balance sheet offsetting (cash collateral against net derivative positions) 616 3,378 Interest rate swap derivatives Cash collateral posted (offset by net derivative positions) 8,050 6,770 There were no letters of credit outstanding related to interest rate swap derivatives as of December 31, 2020 and December 31, 2019. Certain of Avista Corp.’s derivative instruments contain provisions that require the Company 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 December 31 (in thousands): 2020 2019 Interest rate swap derivatives Liabilities with credit-risk-related contingent features $ 50,813 $ 34,056 Additional collateral to post 42,763 26,912 |
Jointly Owned Electric Faciliti
Jointly Owned Electric Facilities | 12 Months Ended |
Dec. 31, 2020 | |
Jointly Owned Utility Plant Net Ownership Amount [Abstract] | |
Jointly Owned Electric Facilities | NOTE 8. JOINTLY OWNED ELECTRIC FACILITIES The Company has a 15 percent ownership interest in Units 3 & 4 of the Colstrip generating station, a coal-fired plant located in southeastern Montana, and provides financing for its ownership interest in the project. Pursuant to the ownership and operating agreements among the co-owners, the Company’s share of related fuel costs as well as operating expenses for plant in service are included in the corresponding accounts in the Consolidated Statements of Income. The Company’s share of utility plant in service for Colstrip and accumulated depreciation (inclusive of the ARO assets and accumulated amortization) were as follows as of December 31 (dollars in thousands): 2020 2019 Utility plant in service $ 391,922 $ 387,860 Accumulated depreciation (284,282 ) (268,637 ) See Note 10 for further discussion of AROs. While the obligations and liabilities with respect to Colstrip are to be shared among the co-owners on a pro-rata basis, many of the environmental liabilities are joint and several under the law, so that if any co-owner failed to pay its share of such liability, the other co-owners (or any one of them) could be required to pay the defaulting co-owner‘s share (or the entire liability). |
Property, Plant And Equipment
Property, Plant And Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Property Plant And Equipment [Abstract] | |
Property, Plant and Equipment | NOTE 9. PROPERTY, PLANT AND EQUIPMENT Net Utility Property Net utility property consisted of the following as of December 31 (dollars in thousands): 2020 2019 Utility plant in service $ 6,809,797 $ 6,462,993 Construction work in progress 175,767 164,941 Total 6,985,564 6,627,934 Less: Accumulated depreciation and amortization 1,993,952 1,830,927 Total net utility property $ 4,991,612 $ 4,797,007 Gross Property, Plant and Equipment The gross balances of the major classifications of property, plant and equipment are detailed in the following table as of December 31 (dollars in thousands): 2020 2019 Avista Utilities: Electric production $ 1,457,497 $ 1,445,017 Electric transmission 862,987 802,546 Electric distribution 1,978,868 1,847,273 Electric construction work-in-progress (CWIP) and other 384,372 350,331 Electric total 4,683,724 4,445,167 Natural gas underground storage 53,351 51,017 Natural gas distribution 1,282,563 1,203,186 Natural gas CWIP and other 83,644 81,245 Natural gas total 1,419,558 1,335,448 Common plant (including CWIP) 712,609 681,711 Total Avista Utilities 6,815,891 6,462,326 AEL&P: Electric production 105,076 100,448 Electric transmission 22,419 22,000 Electric distribution 25,814 24,096 Electric CWIP and other 6,677 9,539 Electric total 159,986 156,083 Common plant 9,687 9,525 Total AEL&P 169,673 165,608 Total gross utility property 6,985,564 6,627,934 Other (1) 16,394 28,195 Total $ 7,001,958 $ 6,656,129 (1) Included in other property and investments-net and other non-current assets on the Consolidated Balance Sheets. Accumulated depreciation was $2.2 million as of December 31, 2020 and $5.4 million as of December 31, 2019 for the other businesses. |
Asset Retirement Obligations
Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2020 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Asset Retirement Obligations | NOTE 10. ASSET RETIREMENT OBLIGATIONS The Company has recorded liabilities for future AROs to: • restore coal ash containment ponds and coal holding areas at Colstrip, • cap a landfill at the Kettle Falls Plant, and • remove plant and restore the land at the Coyote Springs 2 site at the termination of the land lease. Due to an inability to estimate a range of settlement dates, the Company cannot estimate a liability for the: • removal and disposal of certain transmission and distribution assets, and • abandonment and decommissioning of certain hydroelectric generation and natural gas storage facilities. In 2015, the EPA issued a final rule regarding CCRs. Colstrip, of which Avista Corp. is a 15 percent owner of Units 3 & 4, produces this byproduct. The CCR rule has been the subject of ongoing litigation. In August 2018, the D.C. Circuit struck down provisions of the rule. The rule includes technical requirements for CCR landfills and surface impoundments. The Colstrip owners developed a multi-year compliance plan to address the CCR requirements and existing state obligations. The actual asset retirement costs related to the CCR rule requirements may vary substantially from the estimates used to record the ARO due to the uncertainty and evolving nature of the compliance strategies that will be used and the availability of data used to estimate costs, such as the quantity of coal ash present at certain sites and the volume of fill that will be needed to cap and cover certain impoundments. The Company updates its estimates as new information becomes available. The Company expects to seek recovery of any increased costs related to complying with the CCR rule through customer rates. In addition to the above, under a 2018 Administrative Order on Consent and ongoing negotiations with the Montana Department of Ecological Quality, the owners of Colstrip are required to provide financial assurance, primarily in the form of surety bonds, to secure each owner's pro-rata share of various anticipated closure and remediation of the ash ponds and coal holding areas. The amount of financial assurance required of each owner may, like the ARO, vary substantially due to the uncertainty and evolving nature of anticipated closure and remediation activities, and as those activities are completed over time. The following table documents the changes in the Company’s asset retirement obligation during the years ended December 31 (dollars in thousands): 2020 2019 2018 Asset retirement obligation at beginning of year $ 20,338 $ 18,266 $ 17,482 Liabilities incurred (2,315 ) 2,699 — Liabilities settled (1,645 ) (1,503 ) (66 ) Accretion expense 816 876 850 Asset retirement obligation at end of year $ 17,194 $ 20,338 $ 18,266 |
Pension Plans and Other Postret
Pension Plans and Other Postretirement Benefit Plans | 12 Months Ended |
Dec. 31, 2020 | |
General Discussion Of Pension And Other Postretirement Benefits [Abstract] | |
Pension Plans and Other Postretirement Benefit Plans | NOTE 11. PENSION PLANS AND OTHER POSTRETIREMENT BENEFIT PLANS The pension and other postretirement benefit plans described below only relate to Avista Utilities. AEL&P (not discussed below) participates in a defined contribution multiemployer plan for its union workers and a defined contribution money purchase pension plan for its nonunion workers. None of the subsidiary retirement plans, individually or in the aggregate, are significant to Avista Corp. Avista Utilities The Company has a defined benefit pension plan covering the majority of all regular full-time employees at Avista Utilities that were hired prior to January 1, 2014. Individual benefits under this plan are based upon the employee’s years of service, date of hire and average compensation as specified in the plan. Non-union employees hired on or after January 1, 2014 participate in a defined contribution 401(k) plan in lieu of a defined benefit pension plan. Union employees hired on or after January 1, 2014 are still covered under the defined benefit pension plan. 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 in 2020, 2019, and 2018. The Company expects to contribute $42.0 million in cash to the pension plan in 2021. The Company also has a SERP that provides additional pension benefits to certain executive officers and certain key employees of the Company. The SERP is intended to provide benefits to individuals whose benefits under the defined benefit pension plan are reduced due to the application of Section 415 of the Internal Revenue Code of 1986 and the deferral of salary under deferred compensation plans. The liability and expense for this plan are included as pension benefits in the tables included in this Note. The Company expects that benefit payments under the pension plan and the SERP will total (dollars in thousands): 2021 2022 2023 2024 2025 Total 2026- 2030 Expected benefit payments $ 42,390 $ 42,673 $ 42,478 $ 43,149 $ 43,752 $ 223,788 The expected long-term rate of return on plan assets is based on past performance and economic forecasts for the types of investments held by the plan. In selecting a discount rate, the Company considers yield rates for highly rated corporate bond portfolios with maturities similar to that of the expected term of pension benefits. The Company provides certain health care and life insurance benefits for eligible retired employees that were hired prior to January 1, 2014. The Company accrues the estimated cost of postretirement benefit obligations during the years that employees provide services. The liability and expense of this plan are included as other postretirement benefits. Non-union employees hired on or after January 1, 2014, will have access to the retiree medical plan upon retirement; however, Avista Corp. will no longer provide a contribution toward their medical premium. The Company has a Health Reimbursement Arrangement (HRA) to provide employees with tax-advantaged funds to pay for allowable medical expenses upon retirement. The amount earned by the employee is fixed on the retirement date based on the employee’s years of service and the ending salary. The liability and expense of the HRA are included as other postretirement benefits. The Company provides death benefits to beneficiaries of executive officers who die during their term of office or after retirement. Under the plan, an executive officer’s designated beneficiary will receive a payment equal to twice the executive officer’s annual base salary at the time of death (or if death occurs after retirement, a payment equal to twice the executive officer’s total annual pension benefit). The liability and expense for this plan are included as other postretirement benefits. The Company expects that benefit payments under other postretirement benefit plans will total (dollars in thousands): 2021 2022 2023 2024 2025 Total 2026- 2030 Expected benefit payments $ 6,610 $ 6,800 $ 6,891 $ 7,021 $ 7,164 $ 37,156 The Company expects to contribute $6.8 million to other postretirement benefit plans in 2021, representing expected benefit payments to be paid during the year excluding the Medicare Part D subsidy. The Company uses a December 31 measurement date for its pension and other postretirement benefit plans. The following table sets forth the pension and other postretirement benefit plan disclosures as of December 31, 2020 and 2019 and the components of net periodic benefit costs for the years ended December 31, 2020, 2019 and 2018 (dollars in thousands): Pension Benefits Other Post- retirement Benefits 2020 2019 2020 2019 Change in benefit obligation: Benefit obligation as of beginning of year $ 742,382 $ 671,629 $ 159,296 $ 134,053 Service cost 22,392 19,755 3,902 3,006 Interest cost 27,853 28,417 6,042 5,598 Actuarial (gain)/loss 74,688 57,829 (2,589 ) 23,344 Benefits paid (40,400 ) (35,248 ) (5,418 ) (6,705 ) Benefit obligation as of end of year $ 826,915 $ 742,382 $ 161,233 $ 159,296 Change in plan assets: Fair value of plan assets as of beginning of year $ 642,063 $ 544,051 $ 44,853 $ 36,852 Actual return on plan assets 96,591 109,942 7,320 8,001 Employer contributions 22,000 22,000 — — Benefits paid (38,630 ) (33,930 ) — — Fair value of plan assets as of end of year $ 722,024 $ 642,063 $ 52,173 $ 44,853 Funded status $ (104,891 ) $ (100,319 ) $ (109,060 ) $ (114,443 ) Amounts recognized in the Consolidated Balance Sheets: Other current liabilities $ (1,943 ) $ (1,602 ) $ (669 ) $ (640 ) Non-current liabilities (102,948 ) (98,717 ) (108,391 ) (113,803 ) Net amount recognized $ (104,891 ) $ (100,319 ) $ (109,060 ) $ (114,443 ) Accumulated pension benefit obligation $ 710,023 $ 644,004 Accumulated postretirement benefit obligation: For retirees $ 75,876 $ 72,816 For fully eligible employees $ 32,097 $ 34,545 For other participants $ 53,260 $ 51,935 Included in accumulated other comprehensive loss (income) (net of tax): Unrecognized prior service cost $ 1,902 $ 2,105 $ (3,570 ) $ (4,400 ) Unrecognized net actuarial loss 119,318 114,368 53,737 63,101 Total 121,220 116,473 50,167 58,701 Less regulatory asset (108,301 ) (107,395 ) (48,708 ) (57,520 ) Accumulated other comprehensive loss for unfunded benefit obligation for pensions and other postretirement benefit plans $ 12,919 $ 9,078 $ 1,459 $ 1,181 Pension Benefits Other Post- retirement Benefits 2020 2019 2020 2019 Weighted-average assumptions as of December 31: Discount rate for benefit obligation 3.25 % 3.85 % 3.27 % 3.89 % Discount rate for annual expense 3.85 % 4.31 % 3.89 % 4.32 % Expected long-term return on plan assets 5.50 % 5.90 % 5.30 % 5.70 % Rate of compensation increase 4.74 % 4.66 % Medical cost trend pre-age 65 – initial 6.25 % 5.75 % Medical cost trend pre-age 65 – ultimate 5.00 % 5.00 % Ultimate medical cost trend year pre-age 65 2026 2023 Medical cost trend post-age 65 – initial 6.25 % 6.50 % Medical cost trend post-age 65 – ultimate 5.00 % 5.00 % Ultimate medical cost trend year post-age 65 2026 2026 Pension Benefits Other Post-retirement Benefits 2020 2019 2018 2020 2019 2018 Components of net periodic benefit cost: Service cost (a) $ 22,392 $ 19,755 $ 21,614 $ 3,902 $ 3,006 $ 3,188 Interest cost 27,853 28,417 26,096 6,042 5,598 4,831 Expected return on plan assets (34,886 ) (31,763 ) (33,018 ) (2,377 ) (2,101 ) (1,973 ) Amortization of prior service cost 257 257 257 (958 ) (981 ) (1,089 ) Net loss recognition 6,717 10,216 7,879 4,871 4,013 4,232 Net periodic benefit cost $ 22,333 $ 26,882 $ 22,828 $ 11,480 $ 9,535 $ 9,189 (a) 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. Plan Assets The Finance Committee of the Company’s Board of Directors approves investment policies, objectives and strategies that seek an appropriate return for the pension plan and other postretirement benefit plans and reviews and approves changes to the investment and funding policies. The Company has contracted with investment consultants who are responsible for monitoring the individual investment managers. The investment managers’ performance and related individual fund performance is periodically reviewed by an internal benefits committee and by the Finance Committee to monitor compliance with investment policy objectives and strategies. Pension plan assets are invested in mutual funds, trusts and partnerships that hold marketable debt and equity securities, real estate, and absolute return. In seeking to obtain a return that aligns with the funded status of the pension plan, the investment consultant recommends allocation percentages by asset classes. These recommendations are reviewed by the internal benefits committee, which then recommends their adoption by the Finance Committee. The Finance Committee has established target investment allocation percentages by asset classes and also investment ranges for each asset class. The target investment allocation percentages are typically the midpoint of the established range. The target investment allocation percentages by asset classes are indicated in the table below: 2020 2019 Equity securities 35 % 35 % Debt securities 49 % 49 % Real estate 7 % 7 % Absolute return 9 % 9 % The target investment allocation percentages were revised in the first quarter of 2021 and the pension plan assets are being reinvested to move toward the new target investment allocation percentages of 55 percent equity securities, 40 percent debt securities, 5 percent real estate and 0 percent absolute return. The target asset allocation percentages were modified to better align the asset allocations with the funded status of the pension plan. The fair value of pension plan assets invested in debt and equity securities was based primarily on fair value (market prices). The fair value of investment securities traded on a national securities exchange is determined based on the reported last sales price; securities traded in the over-the-counter market are valued at the last reported bid price. Investment securities for which market prices are not readily available or for which market prices do not represent the value at the time of pricing, the investment manager estimates fair value based upon other inputs (including valuations of securities that are comparable in coupon, rating, maturity and industry). Pension plan and other postretirement plan assets whose fair values are measured using net asset value (NAV) are excluded from the fair value hierarchy and are included as reconciling items in the tables below. The Company's investments in common/collective trusts have redemption limitations that permit quarterly redemptions following notice requirements of 45 to 60 days. Most of the Company's investments in closely held investments and partnership interests have redemption limitations that range from bi-monthly to semi-annually following redemption notice requirements of 60 to 90 days. One investment in a partnership has a lock-up for redemption currently expiring in 2022 and is subject to extension. The following table discloses by level within the fair value hierarchy (see Note 18 for a description of the fair value hierarchy) of the pension plan’s assets measured and reported as of December 31, 2020 at fair value (dollars in thousands): Level 1 Level 2 Level 3 Total Cash equivalents $ — $ 3,309 $ — $ 3,309 Fixed income securities: U.S. government issues — 10,990 — 10,990 Corporate issues — 279,857 — 279,857 International issues — 39,634 — 39,634 Municipal issues — 22,431 — 22,431 Mutual funds: U.S. equity securities 146,375 — — 146,375 International equity securities 96,311 — — 96,311 Absolute return (1) 11,640 — — 11,640 Plan assets measured at NAV (not subject to hierarchy disclosure) Common/collective trusts: Real estate — — — 29,532 Partnership/closely held investments: Absolute return (1) — — — 47,188 International equity securities — — — 26,760 Real estate — — — 7,997 Total $ 254,326 $ 356,221 $ — $ 722,024 The following table discloses by level within the fair value hierarchy (see Note 18 for a description of the fair value hierarchy) of the pension plan’s assets measured and reported as of December 31, 2019 at fair value (dollars in thousands): Level 1 Level 2 Level 3 Total Cash equivalents $ — $ 2,852 $ — $ 2,852 Fixed income securities: U.S. government issues — 37,297 — 37,297 Corporate issues — 207,222 — 207,222 International issues — 35,836 — 35,836 Municipal issues — 23,539 — 23,539 Mutual funds: U.S. equity securities 173,568 — — 173,568 International equity securities 46,416 — — 46,416 Absolute return (1) 16,720 — — 16,720 Plan assets measured at NAV (not subject to hierarchy disclosure) Common/collective trusts: Real estate — — — 31,473 Partnership/closely held investments: Absolute return (1) — — — 59,260 Real estate — — — 7,880 Total $ 236,704 $ 306,746 $ — $ 642,063 (1) This category invests in multiple strategies to diversify risk and reduce volatility. The strategies include: (a) event driven, relative value, convertible, and fixed income arbitrage, (b) distressed investments, (c) long/short equity and fixed income, and (d) market neutral strategies. The fair value of other postretirement plan assets invested in debt and equity securities was based primarily on market prices. The fair value of investment securities traded on a national securities exchange is determined based on the last reported sales price; securities traded in the over-the-counter market are valued at the last reported bid price. Investment securities for which market prices are not readily available are fair-valued by the investment manager based upon other inputs (including valuations of securities that are comparable in coupon, rating, maturity and industry). The target asset allocation was 60 percent equity securities and 40 percent debt securities in both 2020 and 2019. The fair value of other postretirement plan assets was determined as of December 31, 2020 and 2019. The following table discloses by level within the fair value hierarchy (see Note 18 for a description of the fair value hierarchy) of other postretirement plan assets measured and reported as of December 31, 2020 at fair value (dollars in thousands): Level 1 Level 2 Level 3 Total Balanced index mutual fund (1) $ 52,173 $ — $ — $ 52,173 The following table discloses by level within the fair value hierarchy (see Note 18 for a description of the fair value hierarchy) of other postretirement plan assets measured and reported as of December 31, 2019 at fair value (dollars in thousands): Level 1 Level 2 Level 3 Total Balanced index mutual fund (1) $ 44,853 $ — $ — $ 44,853 (1) The balanced index fund for 2020 and 2019 is a single mutual fund that includes a percentage of U.S. equity and fixed income securities and International equity and fixed income securities. 401(k) Plans and Executive Deferral Plan Avista Utilities has a salary deferral 401(k) plan that is a defined contribution plan and covers substantially all employees. Employees can make contributions to their respective accounts in the plans on a pre-tax basis up to the maximum amount permitted by law. The Company matches a portion of the salary deferred by each participant according to the schedule in the respective plan. Employer matching contributions were as follows for the years ended December 31 (dollars in thousands): 2020 2019 2018 Employer 401(k) matching contributions $ 11,742 $ 10,412 $ 10,243 The Company has an Executive Deferral Plan. This plan allows executive officers and other key employees the opportunity to defer until the earlier of their retirement, termination, disability or death, up to 75 percent of their base salary and/or up to 100 percent of their incentive payments. Deferred compensation funds are held by the Company in a Rabbi Trust. There were deferred compensation assets included in other property and investments-net and corresponding deferred compensation liabilities included in other non-current liabilities and deferred credits on the Consolidated Balance Sheets of the following amounts as of December 31 (dollars in thousands): 2020 2019 Deferred compensation assets and liabilities $ 9,174 $ 8,948 |
Accounting For Income Taxes
Accounting For Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Accounting for Income Taxes | NOTE 12. ACCOUNTING FOR INCOME TAXES Income Tax Expense Income tax expense consisted of the following for the years ended December 31 (dollars in thousands): 2020 2019 2018 Current income tax expense (benefit) $ (37,913 ) $ 16,276 $ 17,490 Deferred income tax expense 44,964 15,098 8,570 Total income tax expense $ 7,051 $ 31,374 $ 26,060 State income taxes do not represent a significant portion of total income tax expense on the Consolidated Statements of Income for any periods presented. A reconciliation of federal income taxes derived from statutory federal tax rate of 21 percent applied to income before income taxes as set forth in the accompanying Consolidated Statements of Income is as follows for the years ended December 31 (dollars in thousands): 2020 2019 2018 Federal income taxes at statutory rates $ 28,673 21.0 % $ 47,909 21.0 % $ 34,158 21.0 % Increase (decrease) in tax resulting from: Tax effect of regulatory treatment of utility plant differences (12,893 ) (9.4 ) (9,967 ) (4.3 ) (8,153 ) (5.0 ) State income tax expense 814 0.6 1,465 0.6 1,191 0.7 Acquisition costs — — (1,712 ) (0.7 ) 329 0.2 Non-plant excess deferred turnaround (8,476 ) (6.2 ) (5,690 ) (2.5 ) — — Tax loss on sale of METALfx — — (1,272 ) (0.6 ) — — Customer refunds related to prior years at 35 percent (1,189 ) (0.9 ) — — — — Other 122 0.1 641 0.3 (1,465 ) (0.9 ) Total income tax expense $ 7,051 5.2 % $ 31,374 13.8 % $ 26,060 16.0 % Deferred Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes and tax credit carryforwards. The total net deferred income tax liability consisted of the following as of December 31 (dollars in thousands): 2020 2019 Deferred income tax assets: Regulatory liabilities $ 179,871 $ 181,455 Tax credits and NOL carryforwards 57,516 22,331 Provisions for pensions 37,501 41,648 Other 42,641 36,542 Total gross deferred income tax assets 317,529 281,976 Valuation allowances for deferred tax assets (10,021 ) (16,551 ) Total deferred income tax assets after valuation allowances 307,508 265,425 Deferred income tax liabilities: Utility property, plant, and equipment 666,639 581,387 Regulatory assets 232,697 210,231 Other 2,884 2,320 Total deferred income tax liabilities 902,220 793,938 Net long-term deferred income tax liability $ 594,712 $ 528,513 The presentation of the December 31, 2019 deferred income tax assets and liabilities has been changed to reflect the group balances based on balance sheet captions of the underlying deferred tax. The realization of deferred income tax assets is dependent upon the ability to generate taxable income in future periods. The Company evaluated available evidence supporting the realization of its deferred income tax assets and determined it is more likely than not that deferred income tax assets will be realized. As of December 31, 2020, the Company had $18.3 million of state tax credit carryforwards. Of the total amount, the Company believes that it is more likely than not that it will only be able to utilize $8.6 million of the state tax credits. As such, the Company has recorded a valuation allowance of $9.7 million against the state tax credit carryforwards and reflected the net amount of $8.6 million as an asset as of December 31, 2020. State tax credits expire from 2021 to 2034. Status of Internal Revenue Service (IRS) and State Examinations The Company and its eligible subsidiaries file consolidated federal income tax returns. All tax years after 2016 are open for an IRS tax examination. The Company also files state income tax returns in certain jurisdictions, including Idaho, Oregon, Montana and Alaska. Subsidiaries are charged or credited with the tax effects of their operations on a stand-alone basis. The Idaho State Tax Commission is currently reviewing tax years 2014 through 2017. All tax years after 2016 are open for examination in Montana and Oregon, and all tax years after 2017 are open for examination in Idaho. The Company believes that any open tax years for federal or state income taxes will not result in adjustments that would be significant to the consolidated financial statements. |
Energy Purchase Contracts
Energy Purchase Contracts | 12 Months Ended |
Dec. 31, 2020 | |
Energy Purchase Contracts [Abstract] | |
Energy Purchase Contracts | NOTE 13. ENERGY PURCHASE CONTRACTS The below discussion only relates to Avista Utilities. The sole energy purchase contract at AEL&P is a PPA for the Snettisham hydroelectric project and it is accounted for as a lease. AEL&P does not have any other significant operating agreements or contractual obligations. See Note 5 for further discussion of the Snettisham PPA. Avista Utilities has contracts for the purchase of fuel for thermal generation, natural gas for resale and various agreements for the purchase or exchange of electric energy with other entities. The remaining term of the contracts range from one month to twenty-five years. Total expenses for power purchased, natural gas purchased, fuel for generation and other fuel costs, which are included in utility resource costs in the Consolidated Statements of Income, were as follows for the years ended December 31 (dollars in thousands): 2020 2019 2018 Utility power resources $ 324,297 $ 376,769 $ 357,656 The following table details Avista Utilities’ future contractual commitments for power resources (including transmission contracts) and natural gas resources (including transportation contracts) (dollars in thousands): 2021 2022 2023 2024 2025 Thereafter Total Power resources $ 181,872 $ 177,786 $ 173,536 $ 157,221 $ 157,887 $ 849,444 $ 1,697,746 Natural gas resources 67,717 52,158 42,499 35,598 32,473 241,145 471,590 Total $ 249,589 $ 229,944 $ 216,035 $ 192,819 $ 190,360 $ 1,090,589 $ 2,169,336 These energy purchase contracts were entered into as part of Avista Utilities’ obligation to serve its retail electric and natural gas customers’ energy requirements, including contracts entered into for resource optimization. As a result, these costs are recovered either through base retail rates or adjustments to retail rates as part of the power and natural gas cost deferral and recovery mechanisms. The above future contractual commitments for power resources include fixed contractual amounts related to the Company's contracts with certain PUDs to purchase portions of the output of certain generating facilities. Although Avista Utilities has no investment in the PUD generating facilities, the fixed contracts obligate Avista Utilities to pay certain minimum amounts whether or not the facilities are operating. The cost of power obtained under the contracts, including payments made when a facility is not operating, is included in utility resource costs in the Consolidated Statements of Income. The contractual amounts included above consist of Avista Utilities’ share of existing debt service cost and its proportionate share of the variable operating expenses of these projects. The minimum amounts payable under these contracts are based in part on the proportionate share of the debt service requirements of the PUD's revenue bonds for which the Company is indirectly responsible. The Company's total future debt service obligation associated with the revenue bonds outstanding at December 31, 2020 (principal and interest) was $ million. In addition, Avista Utilities has operating agreements, settlements and other contractual obligations related to its generating facilities and transmission and distribution services. The expenses associated with these agreements are reflected as other operating expenses in the Consolidated Statements of Income. The following table details future contractual commitments under these agreements (dollars in thousands): 2021 2022 2023 2024 2025 Thereafter Total Contractual obligations $ 33,885 $ 31,339 $ 32,083 $ 35,682 $ 33,706 $ 208,526 $ 375,221 |
Committed Lines of Credit
Committed Lines of Credit | 12 Months Ended |
Dec. 31, 2020 | |
Short Term Borrowings [Abstract] | |
Committed Lines of Credit | NOTE 14. 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. During 2020, the Company amended and extended, for one additional year, the revolving line of credit agreement for a revised expiration date of April 2022, with the option to extend for an additional one year period. 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. The committed line of credit agreement contains customary covenants and default provisions. The credit agreement has a covenant which does not permit the ratio of “consolidated total debt” to “consolidated total capitalization” of Avista Corp. to be greater than 65 percent at any time. As of December 31, 2020, the Company was in compliance with this covenant. Balances outstanding and interest rates of borrowings (excluding letters of credit) under the Company’s revolving committed lines of credit were as follows as of December 31 (dollars in thousands): 2020 2019 Balance outstanding at end of period $ 102,000 $ 182,300 Letters of credit outstanding at end of period $ 27,618 $ 21,473 Average interest rate at end of period 1.22 % 2.64 % As of December 31, 2020 and 2019, the borrowings outstanding under Avista Corp.'s committed line of credit were classified as short-term borrowings on the Consolidated Balance Sheets. AEL&P In December of 2019, AEL&P renewed its committed line of credit in the amount of $25.0 million with a new expiration date in November 2024. 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. The committed line of credit agreement contains customary covenants and default provisions. The credit agreement has a covenant which does not permit the ratio of “consolidated total debt at AEL&P” to “consolidated total capitalization at AEL&P,” including the impact of the Snettisham bonds to be greater than 67.5 percent at any time. As of December 31, 2020, AEL&P was in compliance with this covenant. Balances outstanding and interest rates of borrowings under AEL&P's revolving committed lines of credit were as follows as of December 31 (dollars in thousands): 2020 2019 Balance outstanding at end of period $ 1,000 $ 3,500 Average interest rate at end of period 1.65 % 3.45 % NOTE 15. CREDIT AGREEMENT In April 2020, the Company entered into a Credit Agreement with various financial institutions, in the amount of $100 million with an expiration date of April 2021. Indebtedness under this agreement is unsecured. The Credit Agreement contains customary covenants and default provisions, including a covenant not to permit the ratio of "consolidated total debt" to "consolidated total capitalization" of Avista Corp. to be greater than 65 percent at any time. The Company borrowed the entire $100 million available under this agreement. |
Credit Agreement
Credit Agreement | 12 Months Ended |
Dec. 31, 2020 | |
Credit Agreement [Abstract] | |
Committed Lines of Credit | NOTE 14. 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. During 2020, the Company amended and extended, for one additional year, the revolving line of credit agreement for a revised expiration date of April 2022, with the option to extend for an additional one year period. 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. The committed line of credit agreement contains customary covenants and default provisions. The credit agreement has a covenant which does not permit the ratio of “consolidated total debt” to “consolidated total capitalization” of Avista Corp. to be greater than 65 percent at any time. As of December 31, 2020, the Company was in compliance with this covenant. Balances outstanding and interest rates of borrowings (excluding letters of credit) under the Company’s revolving committed lines of credit were as follows as of December 31 (dollars in thousands): 2020 2019 Balance outstanding at end of period $ 102,000 $ 182,300 Letters of credit outstanding at end of period $ 27,618 $ 21,473 Average interest rate at end of period 1.22 % 2.64 % As of December 31, 2020 and 2019, the borrowings outstanding under Avista Corp.'s committed line of credit were classified as short-term borrowings on the Consolidated Balance Sheets. AEL&P In December of 2019, AEL&P renewed its committed line of credit in the amount of $25.0 million with a new expiration date in November 2024. 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. The committed line of credit agreement contains customary covenants and default provisions. The credit agreement has a covenant which does not permit the ratio of “consolidated total debt at AEL&P” to “consolidated total capitalization at AEL&P,” including the impact of the Snettisham bonds to be greater than 67.5 percent at any time. As of December 31, 2020, AEL&P was in compliance with this covenant. Balances outstanding and interest rates of borrowings under AEL&P's revolving committed lines of credit were as follows as of December 31 (dollars in thousands): 2020 2019 Balance outstanding at end of period $ 1,000 $ 3,500 Average interest rate at end of period 1.65 % 3.45 % NOTE 15. CREDIT AGREEMENT In April 2020, the Company entered into a Credit Agreement with various financial institutions, in the amount of $100 million with an expiration date of April 2021. Indebtedness under this agreement is unsecured. The Credit Agreement contains customary covenants and default provisions, including a covenant not to permit the ratio of "consolidated total debt" to "consolidated total capitalization" of Avista Corp. to be greater than 65 percent at any time. The Company borrowed the entire $100 million available under this agreement. |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | NOTE 16. LONG-TERM DEBT The following details long-term debt outstanding as of December 31 (dollars in thousands): Maturity Year Description Interest Rate 2020 2019 Avista Corp. Secured Long-Term Debt 2020 First Mortgage Bonds 3.89% — 52,000 2022 First Mortgage Bonds 5.13% 250,000 250,000 2023 Secured Medium-Term Notes 7.18%-7.54% 13,500 13,500 2028 Secured Medium-Term Notes 6.37% 25,000 25,000 2032 Secured Pollution Control Bonds (1) (1) 66,700 66,700 2034 Secured Pollution Control Bonds (1) (1) 17,000 17,000 2035 First Mortgage Bonds 6.25% 150,000 150,000 2037 First Mortgage Bonds 5.70% 150,000 150,000 2040 First Mortgage Bonds 5.55% 35,000 35,000 2041 First Mortgage Bonds 4.45% 85,000 85,000 2044 First Mortgage Bonds 4.11% 60,000 60,000 2045 First Mortgage Bonds 4.37% 100,000 100,000 2047 First Mortgage Bonds 4.23% 80,000 80,000 2047 First Mortgage Bonds 3.91% 90,000 90,000 2048 First Mortgage Bonds 4.35% 375,000 375,000 2049 First Mortgage Bonds 3.43% 180,000 180,000 2050 First Mortgage Bonds (2) 3.07% 165,000 — 2051 First Mortgage Bonds 3.54% 175,000 175,000 Total Avista Corp. secured long-term debt 2,017,200 1,904,200 Alaska Electric Light and Power Company Secured Long-Term Debt 2044 First Mortgage Bonds 4.54% 75,000 75,000 Total secured long-term debt 2,092,200 1,979,200 Alaska Energy and Resources Company Unsecured Long-Term Debt 2024 Unsecured Term Loan 3.44% 15,000 15,000 Total secured and unsecured long-term debt 2,107,200 1,994,200 Other Long-Term Debt Components Unamortized debt discount (710 ) (788 ) Unamortized long-term debt issuance costs (14,256 ) (13,944 ) Total 2,092,234 1,979,468 Secured Pollution Control Bonds held by Avista Corporation (1) (83,700 ) (83,700 ) Current portion of long-term debt — (52,000 ) Total long-term debt $ 2,008,534 $ 1,843,768 (1) In December 2010, $66.7 million and $17.0 million of the City of Forsyth, Montana Pollution Control Revenue Refunding Bonds (Avista Corporation Colstrip Project) due in 2032 and 2034, respectively, which had been held by Avista Corp. since 2008 and 2009, respectively, were refunded by new variable rate bond issues (Series 2010A and Series 2010B). The new bonds were not offered to the public and were purchased by Avista Corp. due to market conditions. The Company expects that at a later date, subject to market conditions, these bonds may be remarketed to unaffiliated investors. So long as Avista Corp. is the holder of these bonds, the bonds will not be reflected as an asset or a liability on Avista Corp.'s Consolidated Balance Sheets. (2) In September 2020, the Company issued and sold $165.0 million of 3.07 percent first mortgage bonds due in 2050 pursuant to a bond purchase agreement with institutional investors in the private placement market. The total net proceeds from the sale of the bonds were used to repay maturing long-term debt of $52.0 million and repay a portion of the outstanding balance under Avista Corp.'s $400.0 million committed line of credit. In connection with the pricing of the first mortgage bonds in June 2020, the Company cash settled seven interest rate swap derivatives (notional aggregate amount of $70.0 million) and paid a net amount of $33.5 million. See Note 7 for a discussion of interest rate swap derivatives. The following table details future long-term debt maturities including long-term debt to affiliated trusts (see Note 17) (dollars in thousands): 2021 2022 2023 2024 2025 Thereafter Total Debt maturities $ — $ 250,000 $ 13,500 $ 15,000 $ — $ 1,796,547 $ 2,075,047 Substantially all of Avista Utilities' and AEL&P's owned properties are subject to the lien of their respective mortgage indentures. Under the Mortgages and Deeds of Trust (Mortgages) securing their first mortgage bonds (including secured medium-term notes), Avista Utilities and AEL&P may each issue additional first mortgage bonds under their specific mortgage in an aggregate principal amount equal to the sum of: • 66-2/3 • an equal principal amount of retired first mortgage bonds of that entity which have not previously been made the basis of any application under that entity's Mortgage, or • deposit of cash. Avista Utilities and AEL&P may not individually issue any additional first mortgage bonds (with certain exceptions in the case of bonds issued on the basis of retired bonds) unless the particular entity issuing the bonds has “net earnings” (as defined in that entity's Mortgage) for any period of 12 consecutive calendar months out of the preceding 18 calendar months that were at least twice the annual interest requirements on all mortgage securities at the time outstanding, including the first mortgage bonds to be issued, and on all indebtedness of prior rank. As of December 31, 2020, property additions and retired bonds would have allowed, and the net earnings test would not have prohibited, the issuance of $1.7 billion in an aggregate principal amount of additional first mortgage bonds at Avista Utilities and $36.1 million by AEL&P. |
Long- Term Debt to Affiliated T
Long- Term Debt to Affiliated Trust | 12 Months Ended |
Dec. 31, 2020 | |
Long Term Debt To Affiliated Trust [Abstract] | |
Long- Term Debt To Affiliated Trusts | NOTE 17. 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 years ended December 31: 2020 2019 2018 Low distribution rate 1.10 % 2.79 % 2.36 % High distribution rate 2.79 % 3.61 % 3.61 % Distribution rate at the end of the year 1.10 % 2.79 % 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. These 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 Consolidated Balance Sheets. Interest expense to affiliated trusts in the Consolidated Statements of Income represents interest expense on these debentures. |
Fair Value
Fair Value | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value | NOTE 18. 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), finance leases, and long-term debt to affiliated trusts are reported at carrying value on the 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 measurements) and the lowest priority to fair values derived from unobservable inputs (Level 3 measurements). 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 Consolidated Balance Sheets as of December 31 (dollars in thousands): 2020 2019 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Long-term debt (Level 2) $ 963,500 $ 1,189,824 $ 963,500 $ 1,124,649 Long-term debt (Level 3) 1,060,000 1,235,248 947,000 1,048,440 Snettisham capital lease obligation (Level 3) 51,750 58,700 54,550 58,000 Long-term debt to affiliated trusts (Level 3) 51,547 43,815 51,547 41,238 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 85.0 to 144.9 , where a par value of 100.00 represents the carrying value recorded on the 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 using comparable debt with similar risk and terms 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 December 31, 2020 . The following table discloses by level within the fair value hierarchy the Company’s assets and liabilities measured and reported on the Consolidated Balance Sheets as of December 31, 2020 at fair value on a recurring basis (dollars in thousands): Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Total December 31, 2020 Assets: Energy commodity derivatives $ — $ 23,645 $ — $ (22,152 ) $ 1,493 Level 3 energy commodity derivatives: Natural gas exchange agreements — — 75 (75 ) — Foreign currency exchange derivatives — 30 — — 30 Interest rate swap derivatives — 952 — (952 ) — Deferred compensation assets: Mutual Funds: Fixed income securities (2) 2,471 — — — 2,471 Equity securities (2) 6,228 — — — 6,228 Total $ 8,699 $ 24,627 $ 75 $ (23,179 ) $ 10,222 Liabilities: Energy commodity derivatives $ — $ 23,030 $ — $ (22,768 ) $ 262 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 8,485 (75 ) 8,410 Interest rate swap derivatives — 51,765 — (9,002 ) 42,763 Total $ — $ 74,795 $ 8,485 $ (31,845 ) $ 51,435 The following table discloses by level within the fair value hierarchy the Company’s assets and liabilities measured and reported on the Consolidated Balance Sheets as of December 31, 2019 at fair value on a recurring basis (dollars in thousands): Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Total December 31, 2019 Assets: Energy commodity derivatives $ — $ 41,546 $ — $ (40,452 ) $ 1,094 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 27 (27 ) — Foreign currency exchange derivatives — 97 — — 97 Interest rate swap derivatives — 1,552 — (963 ) 589 Deferred compensation assets: Mutual Funds: Fixed income securities (2) 2,232 — — — 2,232 Equity securities (2) 6,271 — — — 6,271 Total $ 8,503 $ 43,195 $ 27 $ (41,442 ) $ 10,283 Liabilities: Energy commodity derivatives $ — $ 45,144 $ — $ (43,830 ) $ 1,314 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 3,003 (27 ) 2,976 Interest rate swap derivatives — 34,056 — (7,733 ) 26,323 Total $ — $ 79,200 $ 3,003 $ (51,590 ) $ 30,613 (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 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 Consolidated Balance Sheets is due to netting arrangements with certain counterparties. See Note 7 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 $0.5 million as of December 31, 2020 and $0.4 million as of December 31, 2019. Level 3 Fair Value 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 December 31, 2020 Fair Value (Net) at December 31, 2020 Valuation Technique Unobservable Input Range Natural gas exchange (8,410 ) Internally derived weighted average cost of gas Forward purchase prices $1.71 - $2.54/mmBTU $2.01 Weighted Average Forward sales prices $1.76 - $4.16/mmBTU $3.22 Weighted Average Purchase volumes 130,000 - 310,000 mmBTUs Sales volumes 75,000 - 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 years ended December 31 (dollars in thousands): Natural Gas Exchange Agreement Power Exchange Agreement Total Year ended December 31, 2020: Balance as of January 1, 2020 $ (2,976 ) $ — $ (2,976 ) Total losses (realized/unrealized): Included in regulatory assets (1) (4,311 ) — (4,311 ) Settlements (1,123 ) — (1,123 ) Ending balance as of December 31, 2020 (2) $ (8,410 ) $ — $ (8,410 ) Year ended December 31, 2019: Balance as of January 1, 2019 $ (2,774 ) $ (2,488 ) $ (5,262 ) Total losses (realized/unrealized): Included in regulatory assets (1) 8,175 435 8,610 Settlements (8,377 ) 2,053 (6,324 ) Ending balance as of December 31, 2019 (2) $ (2,976 ) $ — $ (2,976 ) Year ended December 31, 2018: Balance as of January 1, 2018 $ (3,164 ) $ (13,245 ) $ (16,409 ) Total losses (realized/unrealized): Included in regulatory assets (1) 326 5,027 5,353 Settlements 64 5,730 5,794 Ending balance as of December 31, 2018 (2) $ (2,774 ) $ (2,488 ) $ (5,262 ) (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 | 12 Months Ended |
Dec. 31, 2020 | |
Stockholders Equity Note [Abstract] | |
Common Stock | NOTE 19. COMMON STOCK The payment of dividends on common stock could be limited by: • certain covenants applicable to preferred stock (when outstanding) contained in the Company’s Restated Articles of Incorporation, as amended (currently there are no preferred shares outstanding), • certain covenants applicable to the Company's outstanding long-term debt and committed line of credit agreements, • the hydroelectric licensing requirements of section 10(d) of the FPA (see Note 1), and • certain requirements under the OPUC approval of the AERC acquisition in 2014. The OPUC's AERC acquisition order requires Avista Utilities to maintain a capital structure of no less than 35 percent common equity (inclusive of short-term debt). This limitation may be revised upon request by the Company with approval from the OPUC. The requirements of the OPUC approval of the AERC acquisition are the most restrictive. Under the OPUC restriction, the amount available for dividends at December 31, 2020 was $311.8 million. See the Consolidated Statements of Equity for dividends declared in the years 2018 through 2020. The Company has 10 million authorized shares of preferred stock. The Company did not have any preferred stock outstanding as of December 31, 2020 and 2019. Equity Issuances The Company issued equity in 2020 for total net proceeds of $72.2 million. Most of these issuances came through the Company's sales agency agreements under which the sales agents may offer and sell new shares of common stock from time to time. The Company has board and regulatory authority to issue a maximum of 3.2 million shares under these agreements, of which 1.3 million remain unissued as of December 31, 2020. In 2020, 1.9 million shares were issued under these agreements resulting in total net proceeds of $70.6 million. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2020 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Accumulated Other Comprehensive Loss | NOTE 20. ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated Other Comprehensive Loss Accumulated other comprehensive loss, net of tax, consisted of the following as of December 31 (dollars in thousands): 2020 2019 Unfunded benefit obligation for pensions and other postretirement benefit plans - net of taxes of $3,822 and $2,727, respectively $ 14,378 $ 10,259 The following table details the reclassifications out of accumulated other comprehensive loss by component for the years ended December 31 (dollars in thousands): Amounts Reclassified from Accumulated Other Comprehensive Loss Details about Accumulated Other Comprehensive Loss Components (Affected Line Item in Statements of Income) 2020 2019 2018 Amortization of defined benefit pension items Amortization of net prior service cost (a) $ (794 ) $ (794 ) $ (904 ) Amortization of net loss (a) 5,586 17,074 (15,554 ) Adjustment due to effects of regulation (a) (10,006 ) (19,309 ) 18,947 Total before tax (b) (5,214 ) (3,029 ) 2,489 Tax expense (b) 1,095 636 (523 ) Net of tax (b) $ (4,119 ) $ (2,393 ) $ 1,966 (a) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 11 for additional details). (b) Description is also the affected line item on the Consolidated Statements of Income |
Earnings Per Common Share Attri
Earnings Per Common Share Attributable to Avista Corporation Shareholders | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share Attributable to Avista Corporation Shareholders | NOTE 21. EARNINGS PER COMMON SHARE ATTRIBUTABLE TO AVISTA CORPORATION SHAREHOLDERS The following table presents the computation of basic and diluted earnings per common share attributable to Avista Corp. shareholders for the years ended December 31 (in thousands, except per share amounts): 2020 2019 2018 Numerator: Net income attributable to Avista Corp. shareholders $ 129,488 $ 196,979 $ 136,429 Denominator: Weighted-average number of common shares outstanding-basic 67,962 66,205 65,673 Effect of dilutive securities: Performance and restricted stock awards 140 124 273 Weighted-average number of common shares outstanding-diluted 68,102 66,329 65,946 Earnings per common share attributable to Avista Corp. shareholders: Basic $ 1.91 $ 2.98 $ 2.08 Diluted $ 1.90 $ 2.97 $ 2.07 There were no shares excluded from the calculation because they were antidilutive. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 22. 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. Collective Bargaining Agreements The Company’s collective bargaining agreement with the IBEW represents approximately 40 percent of all of Avista Utilities’ employees. Avista’s largest represented group, representing approximately 90 percent of Avista Utilities' bargaining unit employees in Washington and Idaho, are currently covered under a three-year agreement which expires in March 2021. The Company is in the process of negotiating a new agreement with the IBEW. However, there is a risk that if the collective bargaining agreement expired and a new agreement was not reached, employees subject to that agreement could strike. Given the number of employees that are covered by the collective bargaining agreement, a strike could result in disruptions to our operations. However, the Company believes that the possibility of this occurring is remote. 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. 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. In August 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. In March 2020, the Company received an order from the WUTC that requires it to refund $8.5 million to electric and natural gas customers. The Company will refund $4.9 million to electric customers and $3.6 million to natural gas customers, which is being refunded over a twelve-month period that began on April 1, 2020. The Company previously recorded a customer refund liability of $3.6 million in 2019. Boyds Fire (State of Washington Department of Natural Resources v. Avista) In August 2019, the Company was served with a complaint, captioned “State of Washington Department of Natural Resources v. Avista Corporation,” seeking recovery up to $4.4 million for fire suppression and investigation 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 Corp. was negligent in failing to identify and remove the tree before it 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. Additional lawsuits have subsequently been filed by private landowners seeking property damages, and holders of insurance subrogation claims seeking recovery of insurance proceeds paid. The lawsuits were filed in the Superior Court of Ferry County, Washington. The Company intends to vigorously defend itself in the litigation. However, the Company cannot predict the outcome of these matters. Labor Day Windstorm In September 2020, a severe windstorm occurred in eastern Washington and northern Idaho. The extreme weather event resulted in customer outages and the cause of multiple wildfires in the region. With respect to wildfires, the Company’s investigation determined that the primary cause of the fires was extreme high winds. To date, the Company has not found any evidence that the fires were caused by any deficiencies in its equipment, maintenance activities or vegetation management practices. The Company has become aware of instances where, during the course of the storm, otherwise healthy trees and limbs, located in areas outside its maintenance right-of-way, broke under the extraordinary wind conditions and caused damage to its energy delivery system at or near what is believed to be the potential area of origin of a wildfire. Those instances include what has been referred to as: the Babb Road fire (near Malden and Pine City, Washington); the Christensen Road fire (near Airway Heights, Washington); and the Mile Marker 49 fire (near Orofino, Idaho). These wildfires covered, in total, approximately 22,000 acres. The Company currently estimates approximately 230 residential, commercial and other structures were impacted. Parallel investigations by applicable state agencies, including the Washington Department of Natural Resources, are ongoing, and the Company is cooperating with those efforts. In addition to the instances identified above, the Company is aware of a 5-acre fire that occurred in Colfax, Washington, which damaged several residential structures. The Company’s investigation determined that the Company’s facilities were not involved in the ignition of this fire in any way. The Company’s investigation has found no evidence of negligence with respect to any of the fires, and the Company intends to vigorously defend any claims for damages that may be asserted against it with respect to the wildfires arising out of the extreme wind event. 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. The Company routinely assesses, based on studies, expert analysis and legal reviews, its contingencies, obligations and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties who either have or have not agreed to a settlement as well as recoveries from insurance carriers. The Company’s policy is to accrue and charge to current expense identified exposures related to environmental remediation sites based on estimates of investigation, cleanup and monitoring costs to be incurred. For matters that affect Avista Utilities’ or AEL&P's operations, the Company seeks, to the extent appropriate, recovery of incurred costs through the ratemaking process. The Company has potential liabilities under the Endangered Species Act for species of fish, plants and wildlife that have either already been added to the endangered species list, listed as “threatened” or petitioned for listing. Thus far, measures adopted and implemented have had minimal impact on the Company. However, the Company will continue to seek recovery, through the ratemaking process, of all operating and capitalized costs related to these issues. Under the federal licenses for its hydroelectric projects, the Company is obligated to protect its property rights, including water rights. In addition, the Company holds additional non-hydro water rights. The State of Montana is examining the status of all water right claims within state boundaries through a general adjudication. Claims within the Clark Fork River basin could adversely affect the energy production of the Company’s Cabinet Gorge and Noxon Rapids hydroelectric facilities. The state of Idaho has initiated adjudication in northern Idaho, which will ultimately include the lower Clark Fork River, the Spokane River and the Coeur d’Alene basin. The Company is and will continue to be a participant in these and any other relevant adjudication processes. The complexity of such adjudications makes each unlikely to be concluded in the foreseeable future. As such, it is not possible for the Company to estimate the impact of any outcome at this time. The Company will continue to seek recovery, through the ratemaking process, of all operating and capitalized costs related to this issue. |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2020 | |
Regulated Operations [Abstract] | |
Regulatory Matters | NOTE 23. REGULATORY MATTERS Regulatory Assets and Liabilities The following table presents the Company’s regulatory assets and liabilities as of December 31, 2020 (dollars in thousands): Receiving Regulatory Treatment 2020 2019 Remaining Amortization Period (1) Earning A Return Not Earning A Return (2) Expected Recovery or Refund Current Non- current Current Non- current Regulatory Assets: Deferred income tax (3 ) $ 108,517 $ — $ — $ — $ 108,517 $ — $ 95,752 Pensions and other postretirement benefit plans (4 ) — 198,746 — — 198,746 — 208,754 Energy commodity derivatives (5 ) — 7,795 — 2,073 5,722 6,310 264 Unamortized debt repurchase costs (6 ) 7,512 — — — 7,512 — 8,884 Settlement with Coeur d’Alene Tribe 2059 40,043 — — — 40,043 — 41,332 Demand side management programs (3 ) — 3,814 — — 3,814 — 12,170 Decoupling surcharge 2022 24,246 — — 7,123 17,123 12,098 14,806 Utility plant to be abandoned (7 ) 28,916 — — — 28,916 — 31,291 Interest rate swaps (8 ) 130,538 — 84,313 — 214,851 — 168,594 Deferred power costs (3 ) 3,337 — — 1,775 1,562 — — AFUDC above FERC allowed rate (11 ) 47,393 — — — 47,393 — 40,749 COVID-19 deferrals (12 ) — — 8,166 — 8,166 — — Advanced meter infrastructure (13 ) 26,379 — — — 26,379 — 13,395 Other regulatory assets (3 ) 31,831 9,635 2,935 2,702 41,699 3,443 34,811 Total regulatory assets $ 448,712 $ 219,990 $ 95,414 $ 13,673 $ 750,443 $ 21,851 $ 670,802 Regulatory Liabilities: Deferred natural gas costs (3 ) $ 874 $ — $ — $ 874 $ — $ 3,189 $ — Deferred power costs (3 ) 37,869 — — 20,299 17,570 14,155 23,544 Utility plant retirement costs (9 ) 325,832 — — — 325,832 — 312,403 Income tax related liabilities (3) (10) 390,056 24,573 — 14,952 399,677 23,803 407,549 Interest rate swaps (8 ) 15,046 — — — 15,046 — 17,088 Decoupling rebate 2022 2,966 — — 1,447 1,519 255 2,398 COVID-19 deferrals (12 ) — — 10,949 — 10,949 — — Other regulatory liabilities (3 ) 12,445 10,645 — 8,863 14,227 10,313 12,454 Total regulatory liabilities $ 785,088 $ 35,218 $ 10,949 $ 46,435 $ 784,820 $ 51,715 $ 775,436 (1) Earning a return includes either interest on the regulatory asset/liability or a return on the investment as a component of rate base at the allowed rate of return. (2) Expected recovery is pending regulatory treatment including regulatory assets and liabilities with prior regulatory precedence. (3) Remaining amortization period varies depending on timing of underlying transactions. (4) As the Company has historically recovered and currently recovers its pension and other postretirement benefit costs related to its regulated operations in retail rates, the Company records a regulatory asset for that portion of its pension and other postretirement benefit funding deficiency. (5) 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 losses result in adjustments to retail rates through PGAs, the ERM in Washington, the PCA mechanism in Idaho, and periodic general rates cases. The resulting regulatory assets associated with energy commodity derivative instruments have been concluded to be probable of recovery through future rates. (6) Premiums paid or discounts received to repurchase debt are amortized over the remaining life of the original debt that was repurchased or, if new debt is issued in connection with the repurchase, these costs are amortized over the life of the new debt. These costs are recovered through retail rates as a component of interest expense. (7) In March 2016, the WUTC granted the Company's Petition for an Accounting Order to defer and include in a regulatory asset the undepreciated value of its existing Washington electric meters for the opportunity for later recovery. This accounting treatment is related to the Company's replacement of approximately 253,000 of its existing electric meters with new two-way digital meters and the related software and support services through its AMI project in Washington State. In September 2017, the WUTC also approved the Company's request to defer the undepreciated net book value of existing natural gas ERTs (consistent with the accounting treatment for the electric meters) that will be retired as part of the AMI project. Replacement of the meters and natural gas ERTs will be completed in 2021. The other piece of abandoned plant, relates to the Company's decision to replace a three-phase transformer at one of its generating facilities with three separate single-phase transformers. The Company expects to receive full recovery of the cost of the three-phase transformer; therefore, it has recorded the remaining net book value as a regulatory asset. (8) 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 regulatory asset or liability is amortized as a component of interest expense over the term of the associated debt. The Company records an offset of interest rate swap derivative assets and liabilities with regulatory assets and liabilities, based on the prior practice of the commissions to provide recovery through the ratemaking process. Settled interest rate swap derivatives which have been through a general rate case proceeding are classified as earning a return in the table above, whereas all unsettled interest rate swap derivatives and settled interest rate swap derivatives which have not been included in a general rate case are classified as expected recovery. (9) This amount is dependent upon the cost of removal of underlying utility plant assets and the life of utility plant. (10) The majority of this balance represents amounts due back to customers and resulted from the TCJA, which changed the federal income tax rate from 35 percent to 21 percent. The Company revalued all deferred income taxes as of December 31, 2017. The Company expects the amounts for utility plant items for Avista Utilities to be returned to customers over a period of approximately 36 years. The Company expects the AEL&P amounts to be returned to customers over a period of approximately 40 years. A significant portion of the regulatory liability attributable to non-plant excess deferred taxes was used to offset a portion of the costs associated with accelerating the depreciation of Colstrip Units 3 & 4 based on settlements in Washington and Idaho. The amount attributable to Washington was utilized in 2020 and was $10.9 million ($8.4 million when tax-effected) and the amount attributable to Idaho was utilized in 2019 and was $6.4 million ($5.1 million when tax-effected). (11) This amount is being amortized based on the underlying utility plant assets and the life of utility plant. (12) The WUTC, IPUC and OPUC issued accounting orders allowing the Company to defer certain costs, net of any benefits, related to the COVID-19 pandemic. The Company has recorded all benefits on a gross basis as a regulatory liability to customers and all additional allowed costs are a regulatory asset. The ratemaking treatment will be determined in future general rate cases in each jurisdiction. (13) This amount represents the deferral of the depreciation expense of the Company’s AMI project in Washington state. Recovery of these amounts will be determined in future rate case proceedings. The Company included these amounts in its rate case filings in Washington in the fourth quarter of 2020. Power Cost Deferrals and Recovery Mechanisms Deferred power supply costs are recorded as a deferred charge or liability on the Consolidated Balance Sheets for future prudence review and recovery or rebate through retail rates. The power supply costs deferred include certain differences between actual net power supply costs incurred by Avista Utilities and the costs included in base retail rates. This difference in net power supply costs primarily results from changes in: • short-term wholesale market prices and sales and purchase volumes, • the level, availability and optimization of hydroelectric generation, • the level and availability of thermal generation (including changes in fuel prices), • retail loads, and • sales of surplus transmission capacity. In Washington, the ERM allows Avista Utilities to periodically increase or decrease electric rates with WUTC approval to reflect changes in power supply costs. The ERM is an accounting method used to track certain differences between actual power supply costs, net of wholesale sales and sales of fuel, and the amount included in base retail rates for Washington customers and defer these differences (over the $4.0 million deadband and sharing bands) for future surcharge or rebate to customers. For 2020, the Company recognized a pre-tax benefit of $6.2 million under the ERM in Washington compared to a benefit of $4.4 million for 2019. Total net deferred power costs under the ERM were a liability of $37.9 million as of December 31, 2020 and a liability of $37.0 million as of December 31, 2019. These deferred power cost balances represent amounts due to customers. Pursuant to WUTC requirements, should the cumulative deferral balance exceed $30 million in the rebate or surcharge direction, the Company must make a filing with the WUTC to adjust customer rates to either return the balance to customers or recover the balance from customers. As the cumulative rebate balance exceeded $30 million, the Company’s 2019 filing contained a proposed rate refund. The ERM proceeding was considered with the Company’s 2019 general rate case proceeding and a refund was approved and is being returned to customers over a two-year Avista Utilities has a PCA mechanism in Idaho that allows it to modify electric rates on October 1 of each year with IPUC approval. Under the PCA mechanism, Avista Utilities defers 90 percent of the difference between certain actual net power supply expenses and the amount included in base retail rates for its Idaho customers. The October 1 rate adjustments recover or rebate power costs deferred during the preceding July-June twelve-month period. Total net power supply costs deferred under the PCA mechanism were an asset of $2.5 million as of December 31, 2020 and $0.3 million as of December 31, 2019. Deferred power cost assets represent amounts due from customers and liabilities represent amounts due to customers. Natural Gas Cost Deferrals and Recovery Mechanisms Avista Utilities files a PGA in all three states it serves to adjust natural gas rates for: 1) estimated commodity and pipeline transportation costs to serve natural gas customers for the coming year, and 2) the difference between actual and estimated commodity and transportation costs for the prior year. Total net deferred natural gas costs were an asset of $1.4 million as of December 31, 2020 and a liability of $3.2 million as of December 31, 2019. Asset balances represent amounts due from customers and liabilities represent amounts due to customers. Decoupling and Earnings Sharing Mechanisms Decoupling (also known as an FCA in Idaho) is a mechanism designed to sever the link between a utility's revenues and consumers' energy usage. In each of Avista Utilities' jurisdictions, Avista Utilities' electric and natural gas revenues are adjusted so as to be based on the number of customers in certain customer rate classes and assumed "normal" kilowatt hour and therm sales, rather than being based on actual kilowatt hour and therm sales. The difference between revenues based on the number of customers and "normal" sales and revenues based on actual usage is deferred and either surcharged or rebated to customers beginning in the following year. Only residential and certain commercial customer classes are included in decoupling mechanisms. Washington Decoupling and Earnings Sharing In Washington, the WUTC approved the Company's decoupling mechanisms for electric and natural gas for a five-year period beginning January 1, 2015. In 2019, the WUTC approved an extension of the mechanisms for an additional five-year term through March 31, 2025, with one modification in that new customers added after any test period would not be decoupled until included in a future test period. Electric and natural gas decoupling surcharge rate adjustments to customers are limited to a 3 percent increase on an annual basis, with any remaining surcharge balance carried forward for recovery in a future period. There is no limit on the level of rebate rate adjustments. The decoupling mechanisms each include an after-the-fact earnings test. At the end of each calendar year, separate electric and natural gas earnings calculations are made for the calendar year just ended. These earnings tests reflect actual decoupled revenues, normalized power supply costs and other normalizing adjustments. If the Company earns more than its authorized ROR in Washington, 50 percent of excess earnings are rebated to customers through adjustments to decoupling surcharge or rebate balances. See below for a summary of cumulative balances under the decoupling and earnings sharing mechanisms. Idaho FCA and Earnings Sharing Mechanisms In Idaho, the IPUC approved the implementation of FCAs for electric and natural gas (similar in operation and effect to the Washington decoupling mechanisms) for an initial term of three years, beginning January 1, 2016. In 2019, the IPUC approved an extension of the FCAs through March 31, 2025. Oregon Decoupling Mechanism In February 2016, the OPUC approved the implementation of a decoupling mechanism for natural gas, similar to the Washington and Idaho mechanisms described above. The decoupling mechanism became effective on March 1, 2016. Changes related to deferral interest rates were recommended by the parties in Avista Corp.'s 2019 general rate case and were implemented effective January 15, 2020. In Oregon, an earnings review is conducted on an annual basis. In the annual earnings review, if the Company earns more than 100 basis points above its allowed ROE, one-third of the earnings above the 100 basis points would be deferred and later returned to customers. The earnings review is separate from the decoupling mechanism and was in place prior to decoupling. See below for a summary of cumulative balances under the decoupling and earnings sharing mechanisms. Cumulative Decoupling and Earnings Sharing Mechanism Balances As of December 31, 2020 and December 31, 2019, the Company had the following cumulative balances outstanding related to decoupling and earnings sharing mechanisms in its various jurisdictions (dollars in thousands): December 31, December 31, 2020 2019 Washington Decoupling surcharge $ 21,340 $ 22,440 Idaho Decoupling surcharge $ 1,202 $ 2,549 Provision for earnings sharing rebate (686 ) (686 ) Oregon Decoupling rebate $ (1,262 ) $ (739 ) There were no earnings sharing rebates associated with Washington and Oregon as of December 31, 2020 and December 31, 2019. |
Information by Business Segment
Information by Business Segments | 12 Months Ended |
Dec. 31, 2020 | |
Segment Reporting [Abstract] | |
Information by Business Segments | NOTE 24. 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 year ended December 31, 2020: Operating revenues $ 1,277,468 $ 42,809 $ 1,320,277 $ 1,614 $ — $ 1,321,891 Resource costs 396,543 1,966 398,509 — — 398,509 Other operating expenses 341,709 12,905 354,614 5,344 — 359,958 Depreciation and amortization 213,701 9,806 223,507 716 — 224,223 Income (loss) from operations 220,058 17,088 237,146 (4,446 ) — 232,700 Interest expense (2) 98,451 6,272 104,723 524 (186 ) 105,061 Income taxes 4,921 3,011 7,932 (881 ) — 7,051 Net income (loss) from continuing operations attributable to Avista Corp. shareholders 124,810 8,095 132,905 (3,417 ) — 129,488 Capital expenditures (3) 397,292 7,014 404,306 1,368 — 405,674 For the year ended December 31, 2019: Operating revenues $ 1,295,873 $ 37,265 $ 1,333,138 $ 12,484 $ — $ 1,345,622 Resource costs 442,471 (2,654 ) 439,817 — — 439,817 Other operating expenses (4) 352,170 12,717 364,887 18,883 — 383,770 Depreciation and amortization 195,697 9,668 205,365 629 — 205,994 Income (loss) from operations 200,994 16,423 217,417 (7,028 ) — 210,389 Interest expense (2) 97,866 6,385 104,251 1,032 (929 ) 104,354 Income taxes 28,363 2,816 31,179 195 — 31,374 Net income from continuing operations attributable to Avista Corp. shareholders 183,977 7,458 191,435 5,544 — 196,979 Capital expenditures (3) 434,077 8,433 442,510 835 — 443,345 For the year ended December 31, 2018: Operating revenues $ 1,325,966 $ 43,599 $ 1,369,565 $ 27,328 $ — $ 1,396,893 Resource costs 485,231 9,505 494,736 — — 494,736 Other operating expenses (4) 309,501 12,491 321,992 28,081 — 350,073 Depreciation and amortization 177,006 5,871 182,877 799 — 183,676 Income (loss) from operations 248,000 14,665 262,665 (1,552 ) — 261,113 Interest expense (2) 96,738 3,584 100,322 1,694 (1,080 ) 100,936 Income taxes 25,259 3,094 28,353 (2,293 ) — 26,060 Net income (loss) from continuing operations attributable to Avista Corp. shareholders 134,874 8,292 143,166 (6,737 ) — 136,429 Capital expenditures (3) 418,741 5,609 424,350 891 — 425,241 Total Assets: As of December 31, 2020 $ 6,035,340 $ 268,971 $ 6,304,311 $ 109,658 $ (11,872 ) $ 6,402,097 As of December 31, 2019 $ 5,713,268 $ 271,393 $ 5,984,661 $ 113,390 $ (15,595 ) $ 6,082,456 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. Intersegment eliminations reported as assets represent intersegment accounts receivable. (2) Including interest expense to affiliated trusts. (3) The capital expenditures for the other businesses are included in other investing activities on the Consolidated Statements of Cash Flows. (4) Other operating expenses for Avista Utilities for 2019 and 2018 include merger transaction costs which are separately disclosed on the Consolidated Statements of Income. |
Termination of Proposed Acquisi
Termination of Proposed Acquisition by Hydro One | 12 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Termination of Proposed Acquisition by Hydro One | NOTE 25. TERMINATION OF PROPOSED ACQUISITION BY HYDRO ONE In July 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, in January 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 in January 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 were $19.7 million pre-tax and included financial advisers' fees, legal fees, consulting fees and employee time. |
Sale of METALfx
Sale of METALfx | 12 Months Ended |
Dec. 31, 2020 | |
Disposal Group Not Discontinued Operation Income Statement Disclosures [Abstract] | |
Sale of METALfx | NOTE 26. 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 in April 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 $3.3 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 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 24. 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 (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
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 24 for business segment information. See Note 26 for discussion of the sale of METALfx, which was an unregulated subsidiary of the Company. |
Basis of Reporting | Basis of Reporting The 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 consolidated financial statements include the Company’s proportionate share of utility plant and related operations resulting from its interests in jointly owned plants (see Note 8). |
Use of Estimates | Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported for assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include: • determining the market value of energy commodity derivative assets and liabilities, • pension and other postretirement benefit plan obligations, • contingent liabilities, • goodwill impairment testing, • recoverability of regulatory assets, and • unbilled revenues. Changes in these estimates and assumptions are considered reasonably possible and may have a material effect on the consolidated financial statements and thus actual results could differ from the amounts reported and disclosed herein. |
Regulatory Deferred Charges and Credits | Regulation The Company is subject to state regulation in Washington, Idaho, Montana, Oregon and Alaska. The Company is also subject to federal regulation primarily by the FERC, as well as various other federal agencies with regulatory oversight of particular aspects of its operations. Regulatory Deferred Charges and Credits The Company prepares its consolidated financial statements in accordance with regulatory accounting practices because: • rates for regulated services are established by or subject to approval by independent third-party regulators, • the regulated rates are designed to recover the cost of providing the regulated services, and • in view of demand for the regulated services and the level of competition, it is reasonable to assume that rates can be charged to and collected from customers at levels that will recover costs. Regulatory accounting practices require that certain costs and/or obligations (such as incurred power and natural gas costs not currently reflected in rates, but expected to be recovered or refunded in the future), are reflected as deferred charges or credits on the Consolidated Balance Sheets. These costs and/or obligations are not reflected in the Consolidated Statements of Income until the period during which matching revenues are recognized. The Company also has decoupling revenue deferrals. See Note 4 for discussion on decoupling revenue deferrals. If at some point in the future the Company determines that it no longer meets the criteria for continued application of regulatory accounting practices for all or a portion of its regulated operations, the Company could be: • required to write off its regulatory assets, and • precluded from the future deferral of costs or decoupled revenues not recovered through rates at the time such amounts are incurred, even if the Company expected to recover these amounts from customers in the future. See Note 23 for further details of regulatory assets and liabilities. |
Depreciation | Depreciation For utility operations, depreciation expense is estimated by a method of depreciation accounting utilizing composite rates for utility plant. Such rates are designed to provide for retirements of properties at the expiration of their service lives. For utility operations, the ratio of depreciation provisions to average depreciable property was as follows for the years ended December 31: 2020 2019 2018 Avista Utilities Ratio of depreciation to average depreciable property 3.43 % 3.28 % 3.17 % Alaska Electric Light and Power Company Ratio of depreciation to average depreciable property 2.77 % 2.48 % 2.46 % The average service lives for the following broad categories of utility plant in service are (in years): Avista Utilities Alaska Electric Light and Power Company Electric thermal/other production 27 42 Hydroelectric production 81 42 Electric transmission 49 43 Electric distribution 39 40 Natural gas distribution property 44 N/A Other shorter-lived general plant 8 18 |
Allowance for Funds Used During Construction | Allowance for Funds Used During Construction AFUDC represents the cost of both the debt and equity funds used to finance utility plant additions during the construction period. As prescribed by regulatory authorities, AFUDC is capitalized as a part of the cost of utility plant. The debt component of AFUDC is credited against total interest expense in the Consolidated Statements of Income in the line item “capitalized interest.” The equity component of AFUDC is included in the Consolidated Statements of Income in the line item “other expense (income)-net.” The Company is permitted, under established regulatory rate practices, to recover the capitalized AFUDC, and a reasonable return thereon, through its inclusion in rate base and the provision for depreciation after the related utility plant is placed in service. Cash inflow related to AFUDC does not occur until the related utility plant is placed in service and included in rate base. The WUTC and IPUC have authorized Avista Utilities to calculate AFUDC using its allowed rate of return. To the extent amounts calculated using this rate exceed the AFUDC amounts calculated using the FERC formula, Avista Utilities capitalizes the excess as a regulatory asset. The regulatory asset associated with plant in service is amortized over the average useful life of Avista Utilities' utility plant which is approximately 30 years. The regulatory asset associated with construction work in progress is not amortized until the plant is placed in service. The effective AFUDC rate was the following for the years ended December 31: 2020 2019 2018 Avista Utilities Effective state AFUDC rate 7.25 % 7.39 % 7.43 % Alaska Electric Light and Power Company Effective AFUDC rate 8.04 % 8.96 % 9.04 % |
Income Taxes | Income Taxes Deferred income tax assets represent future income tax deductions the Company expects to utilize in future tax returns to reduce taxable income. Deferred income tax liabilities represent future taxable income the Company expects to recognize in future tax returns. Deferred tax assets and liabilities arise when there are temporary differences resulting from differing treatment of items for tax and accounting purposes. A deferred income tax asset or liability is determined based on the enacted tax rates that will be in effect when the temporary differences between the financial statement carrying amounts and tax basis of existing assets and liabilities are expected to be reported in the Company’s consolidated income tax returns. The deferred income tax expense for the period is equal to the net change in the deferred income tax asset and liability accounts from the beginning to the end of the period. The effect on deferred income taxes from a change in tax rates is recognized in income in the period that includes the enactment date unless a regulatory order specifies deferral of the effect of the change in tax rates over a longer period of time. The Company establishes a valuation allowance when it is more likely than not that all, or a portion, of a deferred tax asset will not be realized. Deferred income tax liabilities and regulatory assets are established for income tax benefits flowed through to customers. The Company's largest deferred income tax item is the difference between the book and tax basis of utility plant. This item results from the temporary difference on depreciation expense. In early tax years, this item is recorded as a deferred income tax liability that will eventually reverse and become subject to income tax in later tax years. The Company did not incur any penalties on income tax positions in 2020, 2019 or 2018. The Company would recognize interest accrued related to income tax positions as interest expense and any penalties incurred as other operating expense. |
Stock-Based Compensation | Stock-Based Compensation The Company currently issues three types of stock-based compensation awards - restricted shares, market-based awards and performance-based awards. Historically, these stock compensation awards have not been material to the Company's overall financial results. Compensation cost relating to share-based payment transactions is recognized in the Company’s financial statements based on the fair value of the equity or liability instruments issued and recorded over the requisite service period. The Company recorded stock-based compensation expense (included in other operating expenses) and income tax benefits in the Consolidated Statements of Income of the following amounts for the years ended December 31 (dollars in thousands): 2020 2019 2018 Stock-based compensation expense $ 5,846 $ 11,353 $ 5,367 Income tax benefits 1,228 2,384 1,127 Excess tax benefits (expenses) on settled share-based employee payments (165 ) (612 ) 990 Restricted share awards vest in equal thirds each year over 3 years and are payable in Avista Corp. common stock at the end of each year if the service condition is met. In addition to the service condition, for restricted shares granted in 2017, the Company must meet a return on equity target in order for the Chief Executive Officer's restricted shares to vest. Restricted stock is valued at the close of market of the Company’s common stock on the grant date. Total Shareholder Return (TSR) awards are market-based awards and Cumulative Earnings Per Share (CEPS) awards are performance awards. Both types of awards vest after a period of 3 years and are payable in cash or Avista Corp. common stock at the end of the three-year period. The method of settlement is at the discretion of the Company and historically the Company has settled these awards through issuance of Avista Corp. common stock and intends to continue this practice. Both types of awards entitle the recipients to dividend equivalent rights, are subject to forfeiture under certain circumstances, and are subject to meeting specific market or performance conditions. Based on the level of attainment of the market or performance conditions, the amount of cash paid or common stock issued will range from 0 to 200 percent of the initial awards granted. Dividend equivalent rights are accumulated and paid out only on shares that eventually vest and have met the market and performance conditions. For both the TSR awards and the CEPS awards, the Company accounts for them as equity awards and compensation cost for these awards is recognized over the requisite service period, provided that the requisite service period is rendered. For TSR awards, if the market condition is not met at the end of the three-year service period, there will be no change in the cumulative amount of compensation cost recognized, since the awards are still considered vested even though the market metric was not met. For CEPS awards, at the end of the three-year service period, if the internal performance metric of cumulative earnings per share is not met, all compensation cost for these awards is reversed as these awards are not considered vested. The fair value of each TSR award is estimated on the date of grant using a statistical model that incorporates the probability of meeting the market targets based on historical returns relative to a peer group. The estimated fair value of the equity component of CEPS awards was estimated on the date of grant as the share price of Avista Corp. common stock on the date of grant, less the net present value of the estimated dividends over the three-year period. The following table summarizes the number of grants, vested and unvested shares, earned shares (based on market metrics), and other pertinent information related to the Company's stock compensation awards for the years ended December 31: 2020 2019 2018 Restricted Shares Shares granted during the year 45,540 50,061 40,661 Shares vested during the year 56,203 48,228 53,352 Unvested shares at end of year 71,706 93,351 91,998 Unrecognized compensation expense at end of year (in thousands) $ 2,003 $ 2,054 $ 1,964 TSR Awards TSR shares granted during the year 47,848 99,214 80,724 TSR shares vested during the year (1) 71,299 106,858 107,342 Unvested TSR shares at end of year 122,133 178,035 187,172 Unrecognized compensation expense (in thousands) $ 2,296 $ 3,377 $ 3,706 CEPS Awards CEPS shares granted during the year 47,848 49,609 40,329 CEPS shares vested during the year 35,622 53,454 53,699 CEPS shares earned based on market metrics 63,763 106,908 30,102 Unvested CEPS shares at end of year 83,464 88,990 93,579 Unrecognized compensation expense (in thousands) $ 1,090 $ 2,401 $ 1,260 (1) The market metrics were not met during 2020, 2019 and 2018 and no TRS shares were earned during these periods. Outstanding TSR and CEPS share awards include a dividend component that is paid in cash. This component of the share grants is accounted for as a liability award. These liability awards are revalued on a quarterly basis taking into account the number of awards outstanding, historical dividend rate, the change in the value of the Company’s common stock relative to an external benchmark (TSR awards only) and the amount of CEPS earned to date compared to estimated CEPS over the performance period (CEPS awards only). Over the life of these awards, the cumulative amount of compensation expense recognized will match the actual cash paid. As of December 31, 2020 and 2019, the Company had recognized cumulative compensation expense and a liability of $0.8 million and $0.9 million, respectively, related to the dividend component on the outstanding and unvested share grants. |
Other Expense (Income) - Net | Other Expense (Income) - Net Other Expense (Income) - net consisted of the following items for the years ended December 31 (dollars in thousands): 2020 2019 2018 Interest income $ (1,952 ) $ (2,587 ) $ (2,710 ) Interest on regulatory deferrals (1,222 ) (1,460 ) (990 ) Equity-related AFUDC (6,970 ) (6,585 ) (6,554 ) Non-service portion of pension and other postretirement benefit expenses 6,433 8,899 5,156 Net (income) loss on investments (905 ) (14,299 ) 5,369 Other expense (income) (201 ) 1,104 1,187 Total $ (4,817 ) $ (14,928 ) $ 1,458 |
Earnings per Common Share Attributable to Avista Corporation Shareholders | Earnings per Common Share Attributable to Avista Corporation Shareholders Basic earnings per common share attributable to Avista Corp. shareholders is computed by dividing net income attributable to Avista Corp. shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share attributable to Avista Corp. shareholders is calculated by dividing net income attributable to Avista Corp. shareholders by diluted weighted-average common shares outstanding during the period, including common stock equivalent shares outstanding using the treasury stock method, unless such shares are anti-dilutive. Common stock equivalent shares include shares issuable under contingent stock awards. See Note 21 for earnings per common share calculations. |
Cash and Cash Equivalents | Cash and Cash Equivalents For the purposes of the Consolidated Statements of Cash Flows, the Company considers all temporary investments with a maturity of three months or less when purchased to be cash equivalents. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts The Company maintains an allowance for doubtful accounts to provide for estimated and potential losses on accounts receivable. The Company determines the allowance for utility and other customer accounts receivable based on historical write-offs as compared to accounts receivable and operating revenues. Additionally, the Company establishes specific allowances for certain individual accounts. The following table presents the activity in the allowance for doubtful accounts during the years ended December 31 (dollars in thousands): 2020 2019 2018 Allowance as of the beginning of the year $ 2,419 $ 5,233 $ 5,132 Additions expensed during the year (1) 11,280 460 3,917 Net deductions (2,312 ) (3,274 ) (3,816 ) Allowance as of the end of the year $ 11,387 $ 2,419 $ 5,233 (1) Increase in 2020 related to COVID-19, bad debt expense in excess of the amount recovered through rates of $7.1 million, was deferred as a regulatory asset. |
Utility Plant in Service | Utility Plant in Service The cost of additions to utility plant in service, including an allowance for funds used during construction and replacements of units of property and improvements, is capitalized. The cost of depreciable units of property retired plus the cost of removal less salvage is charged to accumulated depreciation. |
Asset Retirement Obligations | Asset Retirement Obligations The Company records the fair value of a liability for an ARO in the period in which it is incurred. When the liability is initially recorded, the associated costs of the ARO are capitalized as part of the carrying amount of the related long-lived asset. The liability is accreted to its present value each period and the related capitalized costs are depreciated over the useful life of the related asset. In addition, if there are changes in the estimated timing or estimated costs of the AROs, adjustments are recorded during the period new information becomes available as an increase or decrease to the liability, with the offset recorded to the related long-lived asset. Upon retirement of the asset, the Company either settles the ARO for its recorded amount or recognizes a regulatory asset or liability for the difference, which will be surcharged/refunded to customers through the ratemaking process. The Company records regulatory assets and liabilities for the difference between asset retirement costs currently recovered in rates and AROs recorded since asset retirement costs are recovered through rates charged to customers (see Note 10 for further discussion of the Company's AROs). The Company recovers certain asset retirement costs through rates charged to customers as a portion of its depreciation expense for which the Company has not recorded asset retirement obligations. The Company has recorded the amount of estimated retirement costs collected from customers (that do not represent legal or contractual obligations) and included them as a non-current regulatory liability on the Consolidated Balance Sheets in the following amounts as of December 31 (dollars in thousands): |
Goodwill | Goodwill Goodwill arising from acquisitions represents the future economic benefit arising from other assets acquired in a business combination that are not individually identified and separately recognized. The Company evaluates goodwill for impairment using a fair value to carrying amount comparison (Step 1). The Company completed its annual evaluation of goodwill for potential impairment as of November 30, 2020 and determined that goodwill was not impaired at that time (carrying value was less than the determined fair value). There were no events or circumstances that changed between November 30, 2020 and December 31, 2020 that would more likely than not reduce the fair values of the reporting units below their carrying amounts. The changes in the carrying amount of goodwill during 2019 and 2020 and the balance was as follows (dollars in thousands): AEL&P Other Accumulated Impairment Losses Total Balance as of January 1, 2019 $ 52,426 $ 12,979 $ (7,733 ) $ 57,672 Goodwill sold during the year — (12,979 ) 7,733 (5,246 ) Balance as of December 2019 $ 52,426 $ — $ — $ 52,426 Balance as of December 31, 2020 $ 52,426 $ — $ — $ 52,426 During the year ended December 31, 2020, there were no changes in the carrying amount of goodwill. During the year ended December 31, 2019, goodwill sold related to the sale of METALfx in April 2019. See Note 26 for further discussion. Accumulated impairment losses were attributable to METALfx, which was a part of the other businesses. |
Derivative Assets and Liabilities | Derivative Assets and Liabilities Derivatives are recorded as either assets or liabilities on the 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 rates 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 regulatory asset or liability is amortized as a component of interest expense over the term of the associated debt. The Company records an offset of interest rate swap derivative assets and liabilities with regulatory assets and liabilities, based on the prior practice of the commissions to provide recovery through the ratemaking process. 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 Consolidated Balance Sheets. |
Fair Value Measurements | Fair Value Measurements Fair value represents the price that would be received when selling an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Energy commodity derivative assets and liabilities, deferred compensation assets, as well as derivatives related to interest rate swap derivatives and foreign currency exchange derivatives, are reported at estimated fair value on the Consolidated Balance Sheets. See Note 18 for the Company’s fair value disclosures. |
Unamortized Debt Expense | Unamortized Debt Expense Unamortized debt expense includes debt issuance costs that are amortized over the life of the related debt. These costs are recorded as an offset to Long-Term Debt on the Consolidated Balance Sheets. Unamortized Debt Repurchase Costs Premiums paid or discounts received to repurchase debt are amortized over the remaining life of the original debt that was repurchased or, if new debt is issued in connection with the repurchase, these costs are amortized over the life of the new debt. These costs are recovered through retail rates as a component of interest expense. |
Appropriated Retained Earnings | Appropriated Retained Earnings In accordance with the hydroelectric licensing requirements of section 10(d) of the Federal Power Act (FPA), the Company maintains an appropriated retained earnings account for any earnings in excess of the specified rate of return on the Company's investment in the licenses for its various hydroelectric projects. Per section 10(d) of the FPA, the Company must maintain these excess earnings in an appropriated retained earnings account until the termination of the licensing agreements or apply them to reduce the net investment in the licenses of the hydroelectric projects at the discretion of the FERC. The Company calculates the earnings in excess of the specified rate of return on an annual basis, usually during the second quarter. The appropriated retained earnings amounts included in retained earnings were as follows as of December 31 (dollars in thousands): 2020 2019 Appropriated retained earnings $ 47,473 $ 43,151 |
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. As of December 31, 2020, the Company has not recorded any significant amounts related to unresolved contingencies. See Note 2 2 for further discussion of the Company's commitments and contingencies. |
Inventory | 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 December 31 (dollars in thousands): 2020 2019 Materials and supplies $ 53,258 $ 47,402 Fuel stock 4,658 4,875 Stored natural gas 9,535 14,306 Total $ 67,451 $ 66,583 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Ratio of Depreciation to Average Depreciable Property and Average Service Lives for Utility Plan in Service | For utility operations, the ratio of depreciation provisions to average depreciable property was as follows for the years ended December 31: 2020 2019 2018 Avista Utilities Ratio of depreciation to average depreciable property 3.43 % 3.28 % 3.17 % Alaska Electric Light and Power Company Ratio of depreciation to average depreciable property 2.77 % 2.48 % 2.46 % The average service lives for the following broad categories of utility plant in service are (in years): Avista Utilities Alaska Electric Light and Power Company Electric thermal/other production 27 42 Hydroelectric production 81 42 Electric transmission 49 43 Electric distribution 39 40 Natural gas distribution property 44 N/A Other shorter-lived general plant 8 18 The gross balances of the major classifications of property, plant and equipment are detailed in the following table as of December 31 (dollars in thousands): 2020 2019 Avista Utilities: Electric production $ 1,457,497 $ 1,445,017 Electric transmission 862,987 802,546 Electric distribution 1,978,868 1,847,273 Electric construction work-in-progress (CWIP) and other 384,372 350,331 Electric total 4,683,724 4,445,167 Natural gas underground storage 53,351 51,017 Natural gas distribution 1,282,563 1,203,186 Natural gas CWIP and other 83,644 81,245 Natural gas total 1,419,558 1,335,448 Common plant (including CWIP) 712,609 681,711 Total Avista Utilities 6,815,891 6,462,326 AEL&P: Electric production 105,076 100,448 Electric transmission 22,419 22,000 Electric distribution 25,814 24,096 Electric CWIP and other 6,677 9,539 Electric total 159,986 156,083 Common plant 9,687 9,525 Total AEL&P 169,673 165,608 Total gross utility property 6,985,564 6,627,934 Other (1) 16,394 28,195 Total $ 7,001,958 $ 6,656,129 (1) Included in other property and investments-net and other non-current assets on the Consolidated Balance Sheets. Accumulated depreciation was $2.2 million as of December 31, 2020 and $5.4 million as of December 31, 2019 for the other businesses. |
Summary of Effective AFUDC Rate | The effective AFUDC rate was the following for the years ended December 31: 2020 2019 2018 Avista Utilities Effective state AFUDC rate 7.25 % 7.39 % 7.43 % Alaska Electric Light and Power Company Effective AFUDC rate 8.04 % 8.96 % 9.04 % |
Stock-Based Compensation | The Company recorded stock-based compensation expense (included in other operating expenses) and income tax benefits in the Consolidated Statements of Income of the following amounts for the years ended December 31 (dollars in thousands): 2020 2019 2018 Stock-based compensation expense $ 5,846 $ 11,353 $ 5,367 Income tax benefits 1,228 2,384 1,127 Excess tax benefits (expenses) on settled share-based employee payments (165 ) (612 ) 990 The following table summarizes the number of grants, vested and unvested shares, earned shares (based on market metrics), and other pertinent information related to the Company's stock compensation awards for the years ended December 31: 2020 2019 2018 Restricted Shares Shares granted during the year 45,540 50,061 40,661 Shares vested during the year 56,203 48,228 53,352 Unvested shares at end of year 71,706 93,351 91,998 Unrecognized compensation expense at end of year (in thousands) $ 2,003 $ 2,054 $ 1,964 TSR Awards TSR shares granted during the year 47,848 99,214 80,724 TSR shares vested during the year (1) 71,299 106,858 107,342 Unvested TSR shares at end of year 122,133 178,035 187,172 Unrecognized compensation expense (in thousands) $ 2,296 $ 3,377 $ 3,706 CEPS Awards CEPS shares granted during the year 47,848 49,609 40,329 CEPS shares vested during the year 35,622 53,454 53,699 CEPS shares earned based on market metrics 63,763 106,908 30,102 Unvested CEPS shares at end of year 83,464 88,990 93,579 Unrecognized compensation expense (in thousands) $ 1,090 $ 2,401 $ 1,260 (1) The market metrics were not met during 2020, 2019 and 2018 and no TRS shares were earned during these periods. |
Other Expense (Income) - Net | Other Expense (Income) - net consisted of the following items for the years ended December 31 (dollars in thousands): 2020 2019 2018 Interest income $ (1,952 ) $ (2,587 ) $ (2,710 ) Interest on regulatory deferrals (1,222 ) (1,460 ) (990 ) Equity-related AFUDC (6,970 ) (6,585 ) (6,554 ) Non-service portion of pension and other postretirement benefit expenses 6,433 8,899 5,156 Net (income) loss on investments (905 ) (14,299 ) 5,369 Other expense (income) (201 ) 1,104 1,187 Total $ (4,817 ) $ (14,928 ) $ 1,458 |
Allowance for Doubtful Accounts | The following table presents the activity in the allowance for doubtful accounts during the years ended December 31 (dollars in thousands): 2020 2019 2018 Allowance as of the beginning of the year $ 2,419 $ 5,233 $ 5,132 Additions expensed during the year (1) 11,280 460 3,917 Net deductions (2,312 ) (3,274 ) (3,816 ) Allowance as of the end of the year $ 11,387 $ 2,419 $ 5,233 (1) Increase in 2020 related to COVID-19, bad debt expense in excess of the amount recovered through rates of $7.1 million, was deferred as a regulatory asset. |
Summary of Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill during 2019 and 2020 and the balance was as follows (dollars in thousands): AEL&P Other Accumulated Impairment Losses Total Balance as of January 1, 2019 $ 52,426 $ 12,979 $ (7,733 ) $ 57,672 Goodwill sold during the year — (12,979 ) 7,733 (5,246 ) Balance as of December 2019 $ 52,426 $ — $ — $ 52,426 Balance as of December 31, 2020 $ 52,426 $ — $ — $ 52,426 |
Summary of Appropriated Retained Earnings Amount Included in Retained Earnings | The appropriated retained earnings amounts included in retained earnings were as follows as of December 31 (dollars in thousands): 2020 2019 Appropriated retained earnings $ 47,473 $ 43,151 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Balance Sheet Related Disclosures [Abstract] | |
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 December 31 (dollars in thousands): 2020 2019 Materials and supplies $ 53,258 $ 47,402 Fuel stock 4,658 4,875 Stored natural gas 9,535 14,306 Total $ 67,451 $ 66,583 |
Schedule of Other Current Assets | Other current assets consisted of the following as of December 31 (dollars in thousands): 2020 2019 Collateral posted for derivative instruments after netting with outstanding derivative liabilities $ 4,336 $ 4,434 Prepayments 24,411 19,652 Income taxes receivable 49,814 11,047 Other 6,324 5,009 Total $ 84,885 $ 40,142 |
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 December 31 (dollars in thousands): 2020 2019 Operating lease ROU assets $ 71,891 $ 69,746 Finance lease ROU assets 47,338 50,980 Non-utility property 19,508 27,159 Equity investments 59,318 51,258 Investment in affiliated trust 11,547 11,547 Notes receivable 14,454 14,060 Deferred compensation assets 9,174 8,948 Assets held for sale (1) 3,462 — Other 26,947 23,394 Total $ 263,639 $ 257,092 (1) The Company is in the process of selling certain subsidiary assets associated with Steam Plant Square and Brew Pub. |
Other Current Liabilities | Other current liabilities consisted of the following as of December 31 (dollars in thousands): 2020 2019 Accrued taxes other than income taxes $ 45,099 $ 36,965 Derivative liabilities 14,008 10,928 Employee paid time off accruals 26,495 22,343 Accrued interest 17,083 16,486 Pensions and other postretirement benefits 11,987 8,826 Other 35,159 35,431 Total $ 149,831 $ 130,979 |
Schedule of Other Non-Current Liabilities and Deferred Credits | Other non-current liabilities and deferred credits consisted of the following as of December 31 (dollars in thousands): 2020 2019 Operating lease liabilities $ 67,716 $ 65,565 Finance lease liabilities 48,815 51,750 Deferred investment tax credits 29,866 30,444 Asset retirement obligations 17,194 20,338 Derivative liabilities 37,427 19,685 Other 13,981 13,407 Total $ 214,999 $ 201,189 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Revenue From Contract With Customer [Abstract] | |
Unbilled Accounts Receivable | Accounts receivable includes unbilled energy revenues of the following amounts as of December 31 (dollars in thousands): 2020 2019 Unbilled accounts receivable $ 71,258 $ 63,259 |
Schedule of Utilities Operating Revenue Expense Taxes | Utility-related taxes that were included in revenue from contracts with customers were as follows for the years ended December 31 (dollars in thousands): 2020 2019 2018 Utility-related taxes $ 59,319 $ 59,528 $ 58,730 |
Disaggregation of Revenue | Disaggregation of Total Operating Revenue The following table disaggregates total operating revenue by segment and source for the years ended December 31 (dollars in thousands): 2020 2019 2018 Avista Utilities Revenue from contracts with customers $ 1,157,746 $ 1,152,125 $ 1,147,935 Derivative revenues 110,313 118,741 186,459 Alternative revenue programs (3,814 ) 9,614 908 Deferrals and amortizations for rate refunds to customers 5,335 4,509 (18,241 ) Other utility revenues 7,888 10,884 8,905 Total Avista Utilities 1,277,468 1,295,873 1,325,966 AEL&P Revenue from contracts with customers 42,624 36,779 44,758 Deferrals and amortizations for rate refunds to customers (190 ) (190 ) (1,753 ) Other utility revenues 375 676 594 Total AEL&P 42,809 37,265 43,599 Other Revenue from contracts with customers 564 11,286 26,154 Other revenues 1,050 1,198 1,174 Total Other 1,614 12,484 27,328 Total operating revenues $ 1,321,891 $ 1,345,622 $ 1,396,893 Utility Revenue from Contracts with Customers by Type and Service The following table disaggregates revenue from contracts with customers associated with the Company's electric operations for the years ended December 31 (dollars in thousands): 2020 2019 2018 Avista Utilities AEL&P Total Utility Avista Utilities AEL&P Total Utility Avista Utilities AEL&P Total Utility ELECTRIC OPERATIONS Revenue from contracts with customers Residential $ 377,785 $ 18,618 $ 396,403 $ 369,102 $ 17,134 $ 386,236 $ 368,753 $ 18,506 $ 387,259 Commercial and governmental 303,972 23,754 327,726 317,589 19,391 336,980 314,532 25,989 340,521 Industrial 103,103 — 103,103 105,802 — 105,802 109,846 — 109,846 Public street and highway lighting 7,303 252 7,555 7,448 254 7,702 7,539 263 7,802 Total retail revenue 792,163 42,624 834,787 799,941 36,779 836,720 800,670 44,758 845,428 Transmission 18,236 — 18,236 18,180 — 18,180 17,864 — 17,864 Other revenue from contracts with customers 19,252 — 19,252 26,969 — 26,969 27,364 — 27,364 Total revenue from contracts with customers $ 829,651 $ 42,624 $ 872,275 $ 845,090 $ 36,779 $ 881,869 $ 845,898 $ 44,758 $ 890,656 The following table disaggregates revenue from contracts with customers associated with the Company's natural gas operations for the years ended December 31 (dollars in thousands): 2020 2019 2018 Avista Utilities Avista Utilities Avista Utilities NATURAL GAS OPERATIONS Revenue from contracts with customers Residential $ 213,612 $ 196,430 $ 194,340 Commercial 94,937 92,168 89,341 Industrial and interruptible 7,128 5,263 4,753 Total retail revenue 315,677 293,861 288,434 Transportation 7,917 8,674 9,103 Other revenue from contracts with customers 4,501 4,500 4,500 Total revenue from contracts with customers $ 328,095 $ 307,035 $ 302,037 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Components of Lease Expense | The components of lease expense were as follows for the year ended December 31 (dollars in thousands): 2020 2019 Operating lease cost: Fixed lease cost (Other operating expenses) $ 4,746 $ 4,425 Variable lease cost (Other operating expenses) 1,099 988 Total operating lease cost $ 5,845 $ 5,413 Finance lease cost: Amortization of ROU asset (Depreciation and amortization) $ 3,641 $ 3,641 Interest on lease liabilities (Interest expense) 2,662 2,795 Total finance lease cost $ 6,303 $ 6,436 |
Summary of Supplemental Cash Flow Information related to Leases | Supplemental cash flow information related to leases was as follows for the year ended December 31 (dollars in thousands): 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows: Operating lease payments $ 4,612 $ 4,375 Interest on finance lease 2,662 2,795 Total operating cash outflows $ 7,274 $ 7,170 Finance cash outflows: Principal payments on finance lease $ 2,800 $ 2,660 |
Summary of Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases was as follows for December 31 (dollars in thousands): December 31, December 31, 2020 2019 Operating Leases Operating lease ROU assets (Other property and investments-net and other non-current assets) $ 71,891 $ 69,746 Other current liabilities $ 4,249 $ 4,128 Other non-current liabilities and deferred credits 67,716 65,565 Total operating lease liabilities $ 71,965 $ 69,693 Finance Leases Finance lease ROU assets (Other property and investments-net and other non-current assets) $ 47,338 $ 50,980 Other current liabilities $ 2,935 $ 2,800 Other non-current liabilities and deferred credits 48,815 51,750 Total finance lease liabilities $ 51,750 $ 54,550 Weighted Average Remaining Lease Term Operating leases 25.20 years 26.60 years Finance leases 7.22 years 8.27 years Weighted Average Discount Rate Operating leases 4.28 % 3.82 % Finance leases 4.62 % 4.88 % |
Summary of Maturities of Lease Liabilities | Maturities of lease liabilities (including principal and interest) were as follows as of December 31, 2020 (dollars in thousands): Operating Leases Finance Leases 2021 $ 4,779 $ 5,457 2022 4,799 5,460 2023 4,827 5,456 2024 4,852 5,459 2025 4,865 5,454 Thereafter 96,734 43,661 Total lease payments $ 120,856 $ 70,947 Less: imputed interest (48,891 ) (19,197 ) Total $ 71,965 $ 51,750 Maturities of lease liabilities (including principal and interest) were as follows as of December 31, 2019 (dollars in thousands): Operating Leases Finance Leases 2020 $ 4,372 $ 5,462 2021 4,375 5,457 2022 4,383 5,460 2023 4,399 5,456 2024 4,411 5,459 Thereafter 91,654 49,115 Total lease payments $ 113,594 $ 76,409 Less: imputed interest (43,901 ) (21,859 ) Total $ 69,693 $ 54,550 |
Summary of Maturities of Lease Liabilities | Maturities of lease liabilities (including principal and interest) were as follows as of December 31, 2020 (dollars in thousands): Operating Leases Finance Leases 2021 $ 4,779 $ 5,457 2022 4,799 5,460 2023 4,827 5,456 2024 4,852 5,459 2025 4,865 5,454 Thereafter 96,734 43,661 Total lease payments $ 120,856 $ 70,947 Less: imputed interest (48,891 ) (19,197 ) Total $ 71,965 $ 51,750 Maturities of lease liabilities (including principal and interest) were as follows as of December 31, 2019 (dollars in thousands): Operating Leases Finance Leases 2020 $ 4,372 $ 5,462 2021 4,375 5,457 2022 4,383 5,460 2023 4,399 5,456 2024 4,411 5,459 Thereafter 91,654 49,115 Total lease payments $ 113,594 $ 76,409 Less: imputed interest (43,901 ) (21,859 ) Total $ 69,693 $ 54,550 |
Derivatives and Risk Manageme_2
Derivatives and Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Derivative Instruments And Hedges [Abstract] | |
Schedule of Energy Commodity Derivative Volumes | The following table presents the underlying energy commodity derivative volumes as of December 31, 2020 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) MWh Financial (1) MWh Physical (1) mmBTUs Financial (1) mmBTUs 2021 1 224 10,353 65,188 17 451 5,448 39,273 2022 — — 450 25,525 — — 1,360 12,030 2023 — — — 4,950 — — 1,360 900 2024 — — — — — — 1,370 — 2025 — — — — — — 1,115 — As of December 31, 2020, there are no expected deliveries of energy commodity derivatives after 2025. The following table presents the underlying energy commodity derivative volumes as of December 31, 2019 that were 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) MWh Financial (1) MWh Physical (1) mmBTUs Financial (1) mmBTUs 2020 2 442 9,813 78,803 133 1,724 2,984 37,848 2021 — — 153 25,523 — 246 1,040 13,108 2022 — — 225 4,725 — — — 675 As of December 31, 2019, there were no expected deliveries of energy commodity derivatives after 2022. (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. |
Summary of Foreign Currency Exchange Derivatives | The following table summarizes the foreign currency exchange derivatives that Avista Corp. has outstanding as of December 31 (dollars in thousands): 2020 2019 Number of contracts 22 20 Notional amount (in United States dollars) $ 3,860 $ 5,932 Notional amount (in Canadian dollars) 4,949 7,828 |
Summary of Unsettled Interest Rate Swap Derivatives | The following table summarizes the unsettled interest rate swap derivatives that Avista Corp. has outstanding as of the balance sheet date indicated below (dollars in thousands): Balance Sheet Date Number of Contracts Notional Amount Mandatory Cash Settlement Date December 31, 2020 4 45,000 2021 11 120,000 2022 1 10,000 2023 December 31, 2019 7 70,000 2020 3 35,000 2021 10 110,000 2022 |
Schedules of Fair Values and Locations of Derivative Instruments | The following table presents the fair values and locations of derivative instruments recorded on the Consolidated Balance Sheets as of December 31, 2020 (in thousands): Fair Value Derivative and Balance Sheet Location Gross Asset Gross Liability Collateral Netting Net Asset (Liability) on Balance Sheet Foreign currency exchange derivatives Other current assets $ 30 $ — $ — $ 30 Interest rate swap derivatives Other current liabilities — (19,575 ) 8,050 (11,525 ) Other non-current liabilities and deferred credits 952 (32,190 ) — (31,238 ) Energy commodity derivatives Other current assets 9,203 (8,306 ) — 897 Other property and investments-net and other non-current assets 1,755 (1,159 ) — 596 Other current liabilities 11,037 (14,007 ) 487 (2,483 ) Other non-current liabilities and deferred credits 1,725 (8,043 ) 129 (6,189 ) Total derivative instruments recorded on the balance sheet $ 24,702 $ (83,280 ) $ 8,666 $ (49,912 ) The following table presents the fair values and locations of derivative instruments recorded on the Consolidated Balance Sheets as of December 31, 2019 (in thousands): Fair Value Derivative and Balance Sheet Location Gross Asset Gross Liability Collateral Netting Net Asset (Liability) on Balance Sheet Foreign currency exchange derivatives Other current assets $ 97 $ — $ — $ 97 Interest rate swap derivatives Other current assets 589 — — 589 Other current liabilities 238 (9,379 ) 1,316 (7,825 ) Other non-current liabilities and deferred credits 725 (24,677 ) 5,454 (18,498 ) Energy commodity derivatives Other current assets 416 (245 ) — 171 Other property and investments-net and other non-current assets 6,369 (5,446 ) — 923 Other current liabilities 34,760 (41,241 ) 3,378 (3,103 ) Other non-current liabilities and deferred credits 28 (1,215 ) — (1,187 ) Total derivative instruments recorded on the balance sheet $ 43,222 $ (82,203 ) $ 10,148 $ (28,833 ) |
Schedule of Collateral Outstanding Related to Derivative Instruments | The following table presents Avista Corp.'s collateral outstanding related to its derivative instruments as of December 31 (in thousands): 2020 2019 Energy commodity derivatives Cash collateral posted $ 4,953 $ 7,812 Letters of credit outstanding 23,500 17,400 Balance sheet offsetting (cash collateral against net derivative positions) 616 3,378 Interest rate swap derivatives Cash collateral posted (offset by net derivative positions) 8,050 6,770 There were no letters of credit outstanding related to interest rate swap derivatives as of December 31, 2020 and December 31, 2019. Certain of Avista Corp.’s derivative instruments contain provisions that require the Company 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 December 31 (in thousands): 2020 2019 Interest rate swap derivatives Liabilities with credit-risk-related contingent features $ 50,813 $ 34,056 Additional collateral to post 42,763 26,912 |
Jointly Owned Electric Facili_2
Jointly Owned Electric Facilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Jointly Owned Utility Plant Net Ownership Amount [Abstract] | |
Schedule of Utility Plant in Service for Colstrip And Accumulated Depreciation | The Company’s share of utility plant in service for Colstrip and accumulated depreciation (inclusive of the ARO assets and accumulated amortization) were as follows as of December 31 (dollars in thousands): 2020 2019 Utility plant in service $ 391,922 $ 387,860 Accumulated depreciation (284,282 ) (268,637 ) |
Property, Plant And Equipment (
Property, Plant And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Property Plant And Equipment [Abstract] | |
Schedule of Net Utility Property | Net utility property consisted of the following as of December 31 (dollars in thousands): 2020 2019 Utility plant in service $ 6,809,797 $ 6,462,993 Construction work in progress 175,767 164,941 Total 6,985,564 6,627,934 Less: Accumulated depreciation and amortization 1,993,952 1,830,927 Total net utility property $ 4,991,612 $ 4,797,007 |
Summary of Ratio of Depreciation to Average Depreciable Property and Average Service Lives for Utility Plan in Service | For utility operations, the ratio of depreciation provisions to average depreciable property was as follows for the years ended December 31: 2020 2019 2018 Avista Utilities Ratio of depreciation to average depreciable property 3.43 % 3.28 % 3.17 % Alaska Electric Light and Power Company Ratio of depreciation to average depreciable property 2.77 % 2.48 % 2.46 % The average service lives for the following broad categories of utility plant in service are (in years): Avista Utilities Alaska Electric Light and Power Company Electric thermal/other production 27 42 Hydroelectric production 81 42 Electric transmission 49 43 Electric distribution 39 40 Natural gas distribution property 44 N/A Other shorter-lived general plant 8 18 The gross balances of the major classifications of property, plant and equipment are detailed in the following table as of December 31 (dollars in thousands): 2020 2019 Avista Utilities: Electric production $ 1,457,497 $ 1,445,017 Electric transmission 862,987 802,546 Electric distribution 1,978,868 1,847,273 Electric construction work-in-progress (CWIP) and other 384,372 350,331 Electric total 4,683,724 4,445,167 Natural gas underground storage 53,351 51,017 Natural gas distribution 1,282,563 1,203,186 Natural gas CWIP and other 83,644 81,245 Natural gas total 1,419,558 1,335,448 Common plant (including CWIP) 712,609 681,711 Total Avista Utilities 6,815,891 6,462,326 AEL&P: Electric production 105,076 100,448 Electric transmission 22,419 22,000 Electric distribution 25,814 24,096 Electric CWIP and other 6,677 9,539 Electric total 159,986 156,083 Common plant 9,687 9,525 Total AEL&P 169,673 165,608 Total gross utility property 6,985,564 6,627,934 Other (1) 16,394 28,195 Total $ 7,001,958 $ 6,656,129 (1) Included in other property and investments-net and other non-current assets on the Consolidated Balance Sheets. Accumulated depreciation was $2.2 million as of December 31, 2020 and $5.4 million as of December 31, 2019 for the other businesses. |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Schedule of Changes in Asset Retirement Obligation | The following table documents the changes in the Company’s asset retirement obligation during the years ended December 31 (dollars in thousands): 2020 2019 2018 Asset retirement obligation at beginning of year $ 20,338 $ 18,266 $ 17,482 Liabilities incurred (2,315 ) 2,699 — Liabilities settled (1,645 ) (1,503 ) (66 ) Accretion expense 816 876 850 Asset retirement obligation at end of year $ 17,194 $ 20,338 $ 18,266 |
Pension Plans and Other Postr_2
Pension Plans and Other Postretirement Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Change in Benefit Obligation and Plan Assets | The following table sets forth the pension and other postretirement benefit plan disclosures as of December 31, 2020 and 2019 and the components of net periodic benefit costs for the years ended December 31, 2020, 2019 and 2018 (dollars in thousands): Pension Benefits Other Post- retirement Benefits 2020 2019 2020 2019 Change in benefit obligation: Benefit obligation as of beginning of year $ 742,382 $ 671,629 $ 159,296 $ 134,053 Service cost 22,392 19,755 3,902 3,006 Interest cost 27,853 28,417 6,042 5,598 Actuarial (gain)/loss 74,688 57,829 (2,589 ) 23,344 Benefits paid (40,400 ) (35,248 ) (5,418 ) (6,705 ) Benefit obligation as of end of year $ 826,915 $ 742,382 $ 161,233 $ 159,296 Change in plan assets: Fair value of plan assets as of beginning of year $ 642,063 $ 544,051 $ 44,853 $ 36,852 Actual return on plan assets 96,591 109,942 7,320 8,001 Employer contributions 22,000 22,000 — — Benefits paid (38,630 ) (33,930 ) — — Fair value of plan assets as of end of year $ 722,024 $ 642,063 $ 52,173 $ 44,853 Funded status $ (104,891 ) $ (100,319 ) $ (109,060 ) $ (114,443 ) Amounts recognized in the Consolidated Balance Sheets: Other current liabilities $ (1,943 ) $ (1,602 ) $ (669 ) $ (640 ) Non-current liabilities (102,948 ) (98,717 ) (108,391 ) (113,803 ) Net amount recognized $ (104,891 ) $ (100,319 ) $ (109,060 ) $ (114,443 ) Accumulated pension benefit obligation $ 710,023 $ 644,004 Accumulated postretirement benefit obligation: For retirees $ 75,876 $ 72,816 For fully eligible employees $ 32,097 $ 34,545 For other participants $ 53,260 $ 51,935 Included in accumulated other comprehensive loss (income) (net of tax): Unrecognized prior service cost $ 1,902 $ 2,105 $ (3,570 ) $ (4,400 ) Unrecognized net actuarial loss 119,318 114,368 53,737 63,101 Total 121,220 116,473 50,167 58,701 Less regulatory asset (108,301 ) (107,395 ) (48,708 ) (57,520 ) Accumulated other comprehensive loss for unfunded benefit obligation for pensions and other postretirement benefit plans $ 12,919 $ 9,078 $ 1,459 $ 1,181 Pension Benefits Other Post- retirement Benefits 2020 2019 2020 2019 Weighted-average assumptions as of December 31: Discount rate for benefit obligation 3.25 % 3.85 % 3.27 % 3.89 % Discount rate for annual expense 3.85 % 4.31 % 3.89 % 4.32 % Expected long-term return on plan assets 5.50 % 5.90 % 5.30 % 5.70 % Rate of compensation increase 4.74 % 4.66 % Medical cost trend pre-age 65 – initial 6.25 % 5.75 % Medical cost trend pre-age 65 – ultimate 5.00 % 5.00 % Ultimate medical cost trend year pre-age 65 2026 2023 Medical cost trend post-age 65 – initial 6.25 % 6.50 % Medical cost trend post-age 65 – ultimate 5.00 % 5.00 % Ultimate medical cost trend year post-age 65 2026 2026 |
Components of Net Periodic Benefit Cost | Pension Benefits Other Post-retirement Benefits 2020 2019 2018 2020 2019 2018 Components of net periodic benefit cost: Service cost (a) $ 22,392 $ 19,755 $ 21,614 $ 3,902 $ 3,006 $ 3,188 Interest cost 27,853 28,417 26,096 6,042 5,598 4,831 Expected return on plan assets (34,886 ) (31,763 ) (33,018 ) (2,377 ) (2,101 ) (1,973 ) Amortization of prior service cost 257 257 257 (958 ) (981 ) (1,089 ) Net loss recognition 6,717 10,216 7,879 4,871 4,013 4,232 Net periodic benefit cost $ 22,333 $ 26,882 $ 22,828 $ 11,480 $ 9,535 $ 9,189 (a) 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. |
Schedule of Allocation of Plan Assets | The target investment allocation percentages by asset classes are indicated in the table below: 2020 2019 Equity securities 35 % 35 % Debt securities 49 % 49 % Real estate 7 % 7 % Absolute return 9 % 9 % |
Employer Matching Contributions | Employer matching contributions were as follows for the years ended December 31 (dollars in thousands): 2020 2019 2018 Employer 401(k) matching contributions $ 11,742 $ 10,412 $ 10,243 |
Deferred Compensation Assets and Liabilities | There were deferred compensation assets included in other property and investments-net and corresponding deferred compensation liabilities included in other non-current liabilities and deferred credits on the Consolidated Balance Sheets of the following amounts as of December 31 (dollars in thousands): 2020 2019 Deferred compensation assets and liabilities $ 9,174 $ 8,948 |
Pension Plan And SERP [Member] | |
Schedule of Expected Benefit Payments | The Company expects that benefit payments under the pension plan and the SERP will total (dollars in thousands): 2021 2022 2023 2024 2025 Total 2026- 2030 Expected benefit payments $ 42,390 $ 42,673 $ 42,478 $ 43,149 $ 43,752 $ 223,788 |
Schedule of Allocation of Plan Assets | The following table discloses by level within the fair value hierarchy (see Note 18 for a description of the fair value hierarchy) of the pension plan’s assets measured and reported as of December 31, 2020 at fair value (dollars in thousands): Level 1 Level 2 Level 3 Total Cash equivalents $ — $ 3,309 $ — $ 3,309 Fixed income securities: U.S. government issues — 10,990 — 10,990 Corporate issues — 279,857 — 279,857 International issues — 39,634 — 39,634 Municipal issues — 22,431 — 22,431 Mutual funds: U.S. equity securities 146,375 — — 146,375 International equity securities 96,311 — — 96,311 Absolute return (1) 11,640 — — 11,640 Plan assets measured at NAV (not subject to hierarchy disclosure) Common/collective trusts: Real estate — — — 29,532 Partnership/closely held investments: Absolute return (1) — — — 47,188 International equity securities — — — 26,760 Real estate — — — 7,997 Total $ 254,326 $ 356,221 $ — $ 722,024 The following table discloses by level within the fair value hierarchy (see Note 18 for a description of the fair value hierarchy) of the pension plan’s assets measured and reported as of December 31, 2019 at fair value (dollars in thousands): Level 1 Level 2 Level 3 Total Cash equivalents $ — $ 2,852 $ — $ 2,852 Fixed income securities: U.S. government issues — 37,297 — 37,297 Corporate issues — 207,222 — 207,222 International issues — 35,836 — 35,836 Municipal issues — 23,539 — 23,539 Mutual funds: U.S. equity securities 173,568 — — 173,568 International equity securities 46,416 — — 46,416 Absolute return (1) 16,720 — — 16,720 Plan assets measured at NAV (not subject to hierarchy disclosure) Common/collective trusts: Real estate — — — 31,473 Partnership/closely held investments: Absolute return (1) — — — 59,260 Real estate — — — 7,880 Total $ 236,704 $ 306,746 $ — $ 642,063 (1) This category invests in multiple strategies to diversify risk and reduce volatility. The strategies include: (a) event driven, relative value, convertible, and fixed income arbitrage, (b) distressed investments, (c) long/short equity and fixed income, and (d) market neutral strategies. |
Other Postretirement Benefits [Member] | |
Schedule of Expected Benefit Payments | The Company expects that benefit payments under other postretirement benefit plans will total (dollars in thousands): 2021 2022 2023 2024 2025 Total 2026- 2030 Expected benefit payments $ 6,610 $ 6,800 $ 6,891 $ 7,021 $ 7,164 $ 37,156 |
Schedule of Allocation of Plan Assets | The following table discloses by level within the fair value hierarchy (see Note 18 for a description of the fair value hierarchy) of other postretirement plan assets measured and reported as of December 31, 2020 at fair value (dollars in thousands): Level 1 Level 2 Level 3 Total Balanced index mutual fund (1) $ 52,173 $ — $ — $ 52,173 The following table discloses by level within the fair value hierarchy (see Note 18 for a description of the fair value hierarchy) of other postretirement plan assets measured and reported as of December 31, 2019 at fair value (dollars in thousands): Level 1 Level 2 Level 3 Total Balanced index mutual fund (1) $ 44,853 $ — $ — $ 44,853 (1) The balanced index fund for 2020 and 2019 is a single mutual fund that includes a percentage of U.S. equity and fixed income securities and International equity and fixed income securities. |
Accounting For Income Taxes (Ta
Accounting For Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense | 2020 2019 2018 Current income tax expense (benefit) $ (37,913 ) $ 16,276 $ 17,490 Deferred income tax expense 44,964 15,098 8,570 Total income tax expense $ 7,051 $ 31,374 $ 26,060 |
Schedule of Effective Income Tax Rate Reconciliation | 2020 2019 2018 Federal income taxes at statutory rates $ 28,673 21.0 % $ 47,909 21.0 % $ 34,158 21.0 % Increase (decrease) in tax resulting from: Tax effect of regulatory treatment of utility plant differences (12,893 ) (9.4 ) (9,967 ) (4.3 ) (8,153 ) (5.0 ) State income tax expense 814 0.6 1,465 0.6 1,191 0.7 Acquisition costs — — (1,712 ) (0.7 ) 329 0.2 Non-plant excess deferred turnaround (8,476 ) (6.2 ) (5,690 ) (2.5 ) — — Tax loss on sale of METALfx — — (1,272 ) (0.6 ) — — Customer refunds related to prior years at 35 percent (1,189 ) (0.9 ) — — — — Other 122 0.1 641 0.3 (1,465 ) (0.9 ) Total income tax expense $ 7,051 5.2 % $ 31,374 13.8 % $ 26,060 16.0 % |
Schedule of Deferred Income Tax Assets and Liabilities | The total net deferred income tax liability consisted of the following as of December 31 (dollars in thousands): 2020 2019 Deferred income tax assets: Regulatory liabilities $ 179,871 $ 181,455 Tax credits and NOL carryforwards 57,516 22,331 Provisions for pensions 37,501 41,648 Other 42,641 36,542 Total gross deferred income tax assets 317,529 281,976 Valuation allowances for deferred tax assets (10,021 ) (16,551 ) Total deferred income tax assets after valuation allowances 307,508 265,425 Deferred income tax liabilities: Utility property, plant, and equipment 666,639 581,387 Regulatory assets 232,697 210,231 Other 2,884 2,320 Total deferred income tax liabilities 902,220 793,938 Net long-term deferred income tax liability $ 594,712 $ 528,513 |
Energy Purchase Contracts (Tabl
Energy Purchase Contracts (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Energy Purchase Contracts [Line Items] | |
Schedule of Utility Total Expenses | Total expenses for power purchased, natural gas purchased, fuel for generation and other fuel costs, which are included in utility resource costs in the Consolidated Statements of Income, were as follows for the years ended December 31 (dollars in thousands): 2020 2019 2018 Utility power resources $ 324,297 $ 376,769 $ 357,656 |
Future Contractual Commitments for Power Resources and Natural Gas Resources | The following table details Avista Utilities’ future contractual commitments for power resources (including transmission contracts) and natural gas resources (including transportation contracts) (dollars in thousands): 2021 2022 2023 2024 2025 Thereafter Total Power resources $ 181,872 $ 177,786 $ 173,536 $ 157,221 $ 157,887 $ 849,444 $ 1,697,746 Natural gas resources 67,717 52,158 42,499 35,598 32,473 241,145 471,590 Total $ 249,589 $ 229,944 $ 216,035 $ 192,819 $ 190,360 $ 1,090,589 $ 2,169,336 |
Contractual Obligations [Member] | |
Energy Purchase Contracts [Line Items] | |
Future Contractual Commitments for Power Resources and Natural Gas Resources | The following table details future contractual commitments under these agreements (dollars in thousands): 2021 2022 2023 2024 2025 Thereafter Total Contractual obligations $ 33,885 $ 31,339 $ 32,083 $ 35,682 $ 33,706 $ 208,526 $ 375,221 |
Committed Lines of Credit (Tabl
Committed Lines of Credit (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Avista Utilities [Member] | |
Line of Credit Facility [Line Items] | |
Schedule of Balances Outstanding and Interest Rates of Borrowings | Balances outstanding and interest rates of borrowings (excluding letters of credit) under the Company’s revolving committed lines of credit were as follows as of December 31 (dollars in thousands): 2020 2019 Balance outstanding at end of period $ 102,000 $ 182,300 Letters of credit outstanding at end of period $ 27,618 $ 21,473 Average interest rate at end of period 1.22 % 2.64 % |
Alaska Electric Light & Power [Member] | |
Line of Credit Facility [Line Items] | |
Schedule of Balances Outstanding and Interest Rates of Borrowings | Balances outstanding and interest rates of borrowings under AEL&P's revolving committed lines of credit were as follows as of December 31 (dollars in thousands): 2020 2019 Balance outstanding at end of period $ 1,000 $ 3,500 Average interest rate at end of period 1.65 % 3.45 % |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Long Term Debt [Abstract] | |
Schedule of Long-term Debt Instruments | Maturity Year Description Interest Rate 2020 2019 Avista Corp. Secured Long-Term Debt 2020 First Mortgage Bonds 3.89% — 52,000 2022 First Mortgage Bonds 5.13% 250,000 250,000 2023 Secured Medium-Term Notes 7.18%-7.54% 13,500 13,500 2028 Secured Medium-Term Notes 6.37% 25,000 25,000 2032 Secured Pollution Control Bonds (1) (1) 66,700 66,700 2034 Secured Pollution Control Bonds (1) (1) 17,000 17,000 2035 First Mortgage Bonds 6.25% 150,000 150,000 2037 First Mortgage Bonds 5.70% 150,000 150,000 2040 First Mortgage Bonds 5.55% 35,000 35,000 2041 First Mortgage Bonds 4.45% 85,000 85,000 2044 First Mortgage Bonds 4.11% 60,000 60,000 2045 First Mortgage Bonds 4.37% 100,000 100,000 2047 First Mortgage Bonds 4.23% 80,000 80,000 2047 First Mortgage Bonds 3.91% 90,000 90,000 2048 First Mortgage Bonds 4.35% 375,000 375,000 2049 First Mortgage Bonds 3.43% 180,000 180,000 2050 First Mortgage Bonds (2) 3.07% 165,000 — 2051 First Mortgage Bonds 3.54% 175,000 175,000 Total Avista Corp. secured long-term debt 2,017,200 1,904,200 Alaska Electric Light and Power Company Secured Long-Term Debt 2044 First Mortgage Bonds 4.54% 75,000 75,000 Total secured long-term debt 2,092,200 1,979,200 Alaska Energy and Resources Company Unsecured Long-Term Debt 2024 Unsecured Term Loan 3.44% 15,000 15,000 Total secured and unsecured long-term debt 2,107,200 1,994,200 Other Long-Term Debt Components Unamortized debt discount (710 ) (788 ) Unamortized long-term debt issuance costs (14,256 ) (13,944 ) Total 2,092,234 1,979,468 Secured Pollution Control Bonds held by Avista Corporation (1) (83,700 ) (83,700 ) Current portion of long-term debt — (52,000 ) Total long-term debt $ 2,008,534 $ 1,843,768 (1) In December 2010, $66.7 million and $17.0 million of the City of Forsyth, Montana Pollution Control Revenue Refunding Bonds (Avista Corporation Colstrip Project) due in 2032 and 2034, respectively, which had been held by Avista Corp. since 2008 and 2009, respectively, were refunded by new variable rate bond issues (Series 2010A and Series 2010B). The new bonds were not offered to the public and were purchased by Avista Corp. due to market conditions. The Company expects that at a later date, subject to market conditions, these bonds may be remarketed to unaffiliated investors. So long as Avista Corp. is the holder of these bonds, the bonds will not be reflected as an asset or a liability on Avista Corp.'s Consolidated Balance Sheets. (2) In September 2020, the Company issued and sold $165.0 million of 3.07 percent first mortgage bonds due in 2050 pursuant to a bond purchase agreement with institutional investors in the private placement market. The total net proceeds from the sale of the bonds were used to repay maturing long-term debt of $52.0 million and repay a portion of the outstanding balance under Avista Corp.'s $400.0 million committed line of credit. In connection with the pricing of the first mortgage bonds in June 2020, the Company cash settled seven interest rate swap derivatives (notional aggregate amount of $70.0 million) and paid a net amount of $33.5 million. See Note 7 for a discussion of interest rate swap derivatives. |
Schedule of Maturities of Long-term Debt | 2021 2022 2023 2024 2025 Thereafter Total Debt maturities $ — $ 250,000 $ 13,500 $ 15,000 $ — $ 1,796,547 $ 2,075,047 |
Long- Term Debt to Affiliated_2
Long- Term Debt to Affiliated Trust (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Long Term Debt To Affiliated Trust [Abstract] | |
Schedule Of Distribution Rates Paid | The distribution rates paid were as follows during the years ended December 31: 2020 2019 2018 Low distribution rate 1.10 % 2.79 % 2.36 % High distribution rate 2.79 % 3.61 % 3.61 % Distribution rate at the end of the year 1.10 % 2.79 % 3.61 % |
Fair Value (Tables)
Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Schedule of 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 Consolidated Balance Sheets as of December 31 (dollars in thousands): 2020 2019 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Long-term debt (Level 2) $ 963,500 $ 1,189,824 $ 963,500 $ 1,124,649 Long-term debt (Level 3) 1,060,000 1,235,248 947,000 1,048,440 Snettisham capital lease obligation (Level 3) 51,750 58,700 54,550 58,000 Long-term debt to affiliated trusts (Level 3) 51,547 43,815 51,547 41,238 |
Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis | The following table discloses by level within the fair value hierarchy the Company’s assets and liabilities measured and reported on the Consolidated Balance Sheets as of December 31, 2020 at fair value on a recurring basis (dollars in thousands): Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Total December 31, 2020 Assets: Energy commodity derivatives $ — $ 23,645 $ — $ (22,152 ) $ 1,493 Level 3 energy commodity derivatives: Natural gas exchange agreements — — 75 (75 ) — Foreign currency exchange derivatives — 30 — — 30 Interest rate swap derivatives — 952 — (952 ) — Deferred compensation assets: Mutual Funds: Fixed income securities (2) 2,471 — — — 2,471 Equity securities (2) 6,228 — — — 6,228 Total $ 8,699 $ 24,627 $ 75 $ (23,179 ) $ 10,222 Liabilities: Energy commodity derivatives $ — $ 23,030 $ — $ (22,768 ) $ 262 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 8,485 (75 ) 8,410 Interest rate swap derivatives — 51,765 — (9,002 ) 42,763 Total $ — $ 74,795 $ 8,485 $ (31,845 ) $ 51,435 The following table discloses by level within the fair value hierarchy the Company’s assets and liabilities measured and reported on the Consolidated Balance Sheets as of December 31, 2019 at fair value on a recurring basis (dollars in thousands): Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Total December 31, 2019 Assets: Energy commodity derivatives $ — $ 41,546 $ — $ (40,452 ) $ 1,094 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 27 (27 ) — Foreign currency exchange derivatives — 97 — — 97 Interest rate swap derivatives — 1,552 — (963 ) 589 Deferred compensation assets: Mutual Funds: Fixed income securities (2) 2,232 — — — 2,232 Equity securities (2) 6,271 — — — 6,271 Total $ 8,503 $ 43,195 $ 27 $ (41,442 ) $ 10,283 Liabilities: Energy commodity derivatives $ — $ 45,144 $ — $ (43,830 ) $ 1,314 Level 3 energy commodity derivatives: Natural gas exchange agreement — — 3,003 (27 ) 2,976 Interest rate swap derivatives — 34,056 — (7,733 ) 26,323 Total $ — $ 79,200 $ 3,003 $ (51,590 ) $ 30,613 (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 Consolidated Balance Sheets. |
Schedule of Quantitative Information | 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 December 31, 2020 Fair Value (Net) at December 31, 2020 Valuation Technique Unobservable Input Range Natural gas exchange (8,410 ) Internally derived weighted average cost of gas Forward purchase prices $1.71 - $2.54/mmBTU $2.01 Weighted Average Forward sales prices $1.76 - $4.16/mmBTU $3.22 Weighted Average Purchase volumes 130,000 - 310,000 mmBTUs Sales volumes 75,000 - 310,000 mmBTUs |
Schedule of Activity For Energy Commodity Derivative Assets (Liabilities) Measured At Fair Value Using Significant Unobservable Inputs (Level 3) | The following table presents activity for energy commodity derivative assets (liabilities) measured at fair value using significant unobservable inputs (Level 3) for the years ended December 31 (dollars in thousands): Natural Gas Exchange Agreement Power Exchange Agreement Total Year ended December 31, 2020: Balance as of January 1, 2020 $ (2,976 ) $ — $ (2,976 ) Total losses (realized/unrealized): Included in regulatory assets (1) (4,311 ) — (4,311 ) Settlements (1,123 ) — (1,123 ) Ending balance as of December 31, 2020 (2) $ (8,410 ) $ — $ (8,410 ) Year ended December 31, 2019: Balance as of January 1, 2019 $ (2,774 ) $ (2,488 ) $ (5,262 ) Total losses (realized/unrealized): Included in regulatory assets (1) 8,175 435 8,610 Settlements (8,377 ) 2,053 (6,324 ) Ending balance as of December 31, 2019 (2) $ (2,976 ) $ — $ (2,976 ) Year ended December 31, 2018: Balance as of January 1, 2018 $ (3,164 ) $ (13,245 ) $ (16,409 ) Total losses (realized/unrealized): Included in regulatory assets (1) 326 5,027 5,353 Settlements 64 5,730 5,794 Ending balance as of December 31, 2018 (2) $ (2,774 ) $ (2,488 ) $ (5,262 ) (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. |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Schedule of Accumulated Other Comprehensive Loss, Net of Tax | Accumulated other comprehensive loss, net of tax, consisted of the following as of December 31 (dollars in thousands): 2020 2019 Unfunded benefit obligation for pensions and other postretirement benefit plans - net of taxes of $3,822 and $2,727, respectively $ 14,378 $ 10,259 |
Reclassification out of Accumulated Other Comprehensive Income | The following table details the reclassifications out of accumulated other comprehensive loss by component for the years ended December 31 (dollars in thousands): Amounts Reclassified from Accumulated Other Comprehensive Loss Details about Accumulated Other Comprehensive Loss Components (Affected Line Item in Statements of Income) 2020 2019 2018 Amortization of defined benefit pension items Amortization of net prior service cost (a) $ (794 ) $ (794 ) $ (904 ) Amortization of net loss (a) 5,586 17,074 (15,554 ) Adjustment due to effects of regulation (a) (10,006 ) (19,309 ) 18,947 Total before tax (b) (5,214 ) (3,029 ) 2,489 Tax expense (b) 1,095 636 (523 ) Net of tax (b) $ (4,119 ) $ (2,393 ) $ 1,966 (a) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 11 for additional details). (b) Description is also the affected line item on the Consolidated Statements of Income |
Earnings Per Common Share Att_2
Earnings Per Common Share Attributable to Avista Corporation Shareholders (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Schedule of Computation of Basic and Diluted Earnings Per Common Share | The following table presents the computation of basic and diluted earnings per common share attributable to Avista Corp. shareholders for the years ended December 31 (in thousands, except per share amounts): 2020 2019 2018 Numerator: Net income attributable to Avista Corp. shareholders $ 129,488 $ 196,979 $ 136,429 Denominator: Weighted-average number of common shares outstanding-basic 67,962 66,205 65,673 Effect of dilutive securities: Performance and restricted stock awards 140 124 273 Weighted-average number of common shares outstanding-diluted 68,102 66,329 65,946 Earnings per common share attributable to Avista Corp. shareholders: Basic $ 1.91 $ 2.98 $ 2.08 Diluted $ 1.90 $ 2.97 $ 2.07 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Regulated Operations [Abstract] | |
Schedule of Regulatory Assets and Liabilities | The following table presents the Company’s regulatory assets and liabilities as of December 31, 2020 (dollars in thousands): Receiving Regulatory Treatment 2020 2019 Remaining Amortization Period (1) Earning A Return Not Earning A Return (2) Expected Recovery or Refund Current Non- current Current Non- current Regulatory Assets: Deferred income tax (3 ) $ 108,517 $ — $ — $ — $ 108,517 $ — $ 95,752 Pensions and other postretirement benefit plans (4 ) — 198,746 — — 198,746 — 208,754 Energy commodity derivatives (5 ) — 7,795 — 2,073 5,722 6,310 264 Unamortized debt repurchase costs (6 ) 7,512 — — — 7,512 — 8,884 Settlement with Coeur d’Alene Tribe 2059 40,043 — — — 40,043 — 41,332 Demand side management programs (3 ) — 3,814 — — 3,814 — 12,170 Decoupling surcharge 2022 24,246 — — 7,123 17,123 12,098 14,806 Utility plant to be abandoned (7 ) 28,916 — — — 28,916 — 31,291 Interest rate swaps (8 ) 130,538 — 84,313 — 214,851 — 168,594 Deferred power costs (3 ) 3,337 — — 1,775 1,562 — — AFUDC above FERC allowed rate (11 ) 47,393 — — — 47,393 — 40,749 COVID-19 deferrals (12 ) — — 8,166 — 8,166 — — Advanced meter infrastructure (13 ) 26,379 — — — 26,379 — 13,395 Other regulatory assets (3 ) 31,831 9,635 2,935 2,702 41,699 3,443 34,811 Total regulatory assets $ 448,712 $ 219,990 $ 95,414 $ 13,673 $ 750,443 $ 21,851 $ 670,802 Regulatory Liabilities: Deferred natural gas costs (3 ) $ 874 $ — $ — $ 874 $ — $ 3,189 $ — Deferred power costs (3 ) 37,869 — — 20,299 17,570 14,155 23,544 Utility plant retirement costs (9 ) 325,832 — — — 325,832 — 312,403 Income tax related liabilities (3) (10) 390,056 24,573 — 14,952 399,677 23,803 407,549 Interest rate swaps (8 ) 15,046 — — — 15,046 — 17,088 Decoupling rebate 2022 2,966 — — 1,447 1,519 255 2,398 COVID-19 deferrals (12 ) — — 10,949 — 10,949 — — Other regulatory liabilities (3 ) 12,445 10,645 — 8,863 14,227 10,313 12,454 Total regulatory liabilities $ 785,088 $ 35,218 $ 10,949 $ 46,435 $ 784,820 $ 51,715 $ 775,436 (1) Earning a return includes either interest on the regulatory asset/liability or a return on the investment as a component of rate base at the allowed rate of return. (2) Expected recovery is pending regulatory treatment including regulatory assets and liabilities with prior regulatory precedence. (3) Remaining amortization period varies depending on timing of underlying transactions. (4) As the Company has historically recovered and currently recovers its pension and other postretirement benefit costs related to its regulated operations in retail rates, the Company records a regulatory asset for that portion of its pension and other postretirement benefit funding deficiency. (5) 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 losses result in adjustments to retail rates through PGAs, the ERM in Washington, the PCA mechanism in Idaho, and periodic general rates cases. The resulting regulatory assets associated with energy commodity derivative instruments have been concluded to be probable of recovery through future rates. (6) Premiums paid or discounts received to repurchase debt are amortized over the remaining life of the original debt that was repurchased or, if new debt is issued in connection with the repurchase, these costs are amortized over the life of the new debt. These costs are recovered through retail rates as a component of interest expense. (7) In March 2016, the WUTC granted the Company's Petition for an Accounting Order to defer and include in a regulatory asset the undepreciated value of its existing Washington electric meters for the opportunity for later recovery. This accounting treatment is related to the Company's replacement of approximately 253,000 of its existing electric meters with new two-way digital meters and the related software and support services through its AMI project in Washington State. In September 2017, the WUTC also approved the Company's request to defer the undepreciated net book value of existing natural gas ERTs (consistent with the accounting treatment for the electric meters) that will be retired as part of the AMI project. Replacement of the meters and natural gas ERTs will be completed in 2021. The other piece of abandoned plant, relates to the Company's decision to replace a three-phase transformer at one of its generating facilities with three separate single-phase transformers. The Company expects to receive full recovery of the cost of the three-phase transformer; therefore, it has recorded the remaining net book value as a regulatory asset. (8) 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 regulatory asset or liability is amortized as a component of interest expense over the term of the associated debt. The Company records an offset of interest rate swap derivative assets and liabilities with regulatory assets and liabilities, based on the prior practice of the commissions to provide recovery through the ratemaking process. Settled interest rate swap derivatives which have been through a general rate case proceeding are classified as earning a return in the table above, whereas all unsettled interest rate swap derivatives and settled interest rate swap derivatives which have not been included in a general rate case are classified as expected recovery. (9) This amount is dependent upon the cost of removal of underlying utility plant assets and the life of utility plant. (10) The majority of this balance represents amounts due back to customers and resulted from the TCJA, which changed the federal income tax rate from 35 percent to 21 percent. The Company revalued all deferred income taxes as of December 31, 2017. The Company expects the amounts for utility plant items for Avista Utilities to be returned to customers over a period of approximately 36 years. The Company expects the AEL&P amounts to be returned to customers over a period of approximately 40 years. A significant portion of the regulatory liability attributable to non-plant excess deferred taxes was used to offset a portion of the costs associated with accelerating the depreciation of Colstrip Units 3 & 4 based on settlements in Washington and Idaho. The amount attributable to Washington was utilized in 2020 and was $10.9 million ($8.4 million when tax-effected) and the amount attributable to Idaho was utilized in 2019 and was $6.4 million ($5.1 million when tax-effected). (11) This amount is being amortized based on the underlying utility plant assets and the life of utility plant. (12) The WUTC, IPUC and OPUC issued accounting orders allowing the Company to defer certain costs, net of any benefits, related to the COVID-19 pandemic. The Company has recorded all benefits on a gross basis as a regulatory liability to customers and all additional allowed costs are a regulatory asset. The ratemaking treatment will be determined in future general rate cases in each jurisdiction. (13) This amount represents the deferral of the depreciation expense of the Company’s AMI project in Washington state. Recovery of these amounts will be determined in future rate case proceedings. The Company included these amounts in its rate case filings in Washington in the fourth quarter of 2020. |
Schedule of Decoupling and Earnings Sharing Mechanisms | As of December 31, 2020 and December 31, 2019, the Company had the following cumulative balances outstanding related to decoupling and earnings sharing mechanisms in its various jurisdictions (dollars in thousands): December 31, December 31, 2020 2019 Washington Decoupling surcharge $ 21,340 $ 22,440 Idaho Decoupling surcharge $ 1,202 $ 2,549 Provision for earnings sharing rebate (686 ) (686 ) Oregon Decoupling rebate $ (1,262 ) $ (739 ) |
Information by Business Segme_2
Information by Business Segments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Segment Reporting [Abstract] | |
Schedule of 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 year ended December 31, 2020: Operating revenues $ 1,277,468 $ 42,809 $ 1,320,277 $ 1,614 $ — $ 1,321,891 Resource costs 396,543 1,966 398,509 — — 398,509 Other operating expenses 341,709 12,905 354,614 5,344 — 359,958 Depreciation and amortization 213,701 9,806 223,507 716 — 224,223 Income (loss) from operations 220,058 17,088 237,146 (4,446 ) — 232,700 Interest expense (2) 98,451 6,272 104,723 524 (186 ) 105,061 Income taxes 4,921 3,011 7,932 (881 ) — 7,051 Net income (loss) from continuing operations attributable to Avista Corp. shareholders 124,810 8,095 132,905 (3,417 ) — 129,488 Capital expenditures (3) 397,292 7,014 404,306 1,368 — 405,674 For the year ended December 31, 2019: Operating revenues $ 1,295,873 $ 37,265 $ 1,333,138 $ 12,484 $ — $ 1,345,622 Resource costs 442,471 (2,654 ) 439,817 — — 439,817 Other operating expenses (4) 352,170 12,717 364,887 18,883 — 383,770 Depreciation and amortization 195,697 9,668 205,365 629 — 205,994 Income (loss) from operations 200,994 16,423 217,417 (7,028 ) — 210,389 Interest expense (2) 97,866 6,385 104,251 1,032 (929 ) 104,354 Income taxes 28,363 2,816 31,179 195 — 31,374 Net income from continuing operations attributable to Avista Corp. shareholders 183,977 7,458 191,435 5,544 — 196,979 Capital expenditures (3) 434,077 8,433 442,510 835 — 443,345 For the year ended December 31, 2018: Operating revenues $ 1,325,966 $ 43,599 $ 1,369,565 $ 27,328 $ — $ 1,396,893 Resource costs 485,231 9,505 494,736 — — 494,736 Other operating expenses (4) 309,501 12,491 321,992 28,081 — 350,073 Depreciation and amortization 177,006 5,871 182,877 799 — 183,676 Income (loss) from operations 248,000 14,665 262,665 (1,552 ) — 261,113 Interest expense (2) 96,738 3,584 100,322 1,694 (1,080 ) 100,936 Income taxes 25,259 3,094 28,353 (2,293 ) — 26,060 Net income (loss) from continuing operations attributable to Avista Corp. shareholders 134,874 8,292 143,166 (6,737 ) — 136,429 Capital expenditures (3) 418,741 5,609 424,350 891 — 425,241 Total Assets: As of December 31, 2020 $ 6,035,340 $ 268,971 $ 6,304,311 $ 109,658 $ (11,872 ) $ 6,402,097 As of December 31, 2019 $ 5,713,268 $ 271,393 $ 5,984,661 $ 113,390 $ (15,595 ) $ 6,082,456 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. Intersegment eliminations reported as assets represent intersegment accounts receivable. (2) Including interest expense to affiliated trusts. (3) The capital expenditures for the other businesses are included in other investing activities on the Consolidated Statements of Cash Flows. (4) Other operating expenses for Avista Utilities for 2019 and 2018 include merger transaction costs which are separately disclosed on the Consolidated Statements of Income. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Summary of Ratio of Depreciation to Average Depreciable Property and Average Service Lives for Utility Plan in Service (Details) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Avista Utilities [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Ratio of depreciation to average depreciable property | 3.43% | 3.28% | 3.17% |
Avista Utilities [Member] | Electric Thermal [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Average service lives for the utility plan in service | 27 years | ||
Avista Utilities [Member] | Hydroelectric Production [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Average service lives for the utility plan in service | 81 years | ||
Avista Utilities [Member] | Electric Transmission [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Average service lives for the utility plan in service | 49 years | ||
Avista Utilities [Member] | Electric Distribution [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Average service lives for the utility plan in service | 39 years | ||
Avista Utilities [Member] | Natural Gas Distribution [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Average service lives for the utility plan in service | 44 years | ||
Avista Utilities [Member] | Other Plant in Service [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Average service lives for the utility plan in service | 8 years | ||
Alaska Electric Light & Power [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Ratio of depreciation to average depreciable property | 2.77% | 2.48% | 2.46% |
Alaska Electric Light & Power [Member] | Electric Thermal [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Average service lives for the utility plan in service | 42 years | ||
Alaska Electric Light & Power [Member] | Hydroelectric Production [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Average service lives for the utility plan in service | 42 years | ||
Alaska Electric Light & Power [Member] | Electric Transmission [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Average service lives for the utility plan in service | 43 years | ||
Alaska Electric Light & Power [Member] | Electric Distribution [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Average service lives for the utility plan in service | 40 years | ||
Alaska Electric Light & Power [Member] | Other Plant in Service [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Average service lives for the utility plan in service | 18 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Effective AFUDC Rate (Details) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Avista Utilities [Member] | |||
Effective Rate On Allowance For Funds Used During Construction [Line Items] | |||
Effective state AFUDC rate | 7.25% | 7.39% | 7.43% |
Alaska Electric Light & Power [Member] | |||
Effective Rate On Allowance For Funds Used During Construction [Line Items] | |||
Effective state AFUDC rate | 8.04% | 8.96% | 9.04% |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Summary Of Significant Accounting Policies [Line Items] | |||
Unrecognized tax benefits, income tax penalties and interest expense | $ 0 | $ 0 | $ 0 |
Change in carrying amount of goodwill during period | 0 | ||
COVID-19 [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Deferred net benefit to customers | $ 2,800,000 | ||
Restricted Stock [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Award vesting period | 3 years | ||
Total Shareholder Return Market-Based Awards and Performance Awards [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Award vesting period | 3 years | ||
Dividend component liability, current | $ 800,000 | $ 900,000 | |
Total Shareholder Return Market-Based Awards and Performance Awards [Member] | Minimum [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Common stock issued range, percent of the performance shares granted | 0.00% | ||
Total Shareholder Return Market-Based Awards and Performance Awards [Member] | Maximum [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Common stock issued range, percent of the performance shares granted | 200.00% |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Stock-Based Compensation (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 5,846 | $ 11,353 | $ 5,367 | |
Income tax benefits | 1,228 | 2,384 | 1,127 | |
Excess tax benefits (expenses) on settled share-based employee payments | $ (165) | $ (612) | $ 990 | |
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares granted during the year | 45,540 | 50,061 | 40,661 | |
Shares vested during the year | 56,203 | 48,228 | 53,352 | |
Unvested shares at end of year | 71,706 | 93,351 | 91,998 | |
Unrecognized compensation expense at end of year (in thousands) | $ 2,003 | $ 2,054 | $ 1,964 | |
Total Shareholder Return Market-Based Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares granted during the year | 47,848 | 99,214 | 80,724 | |
Shares vested during the year | [1] | 71,299 | 106,858 | 107,342 |
Shares earned based on market metrics | 0 | 0 | 0 | |
Unvested shares at end of year | 122,133 | 178,035 | 187,172 | |
Unrecognized compensation expense at end of year (in thousands) | $ 2,296 | $ 3,377 | $ 3,706 | |
Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares granted during the year | 47,848 | 49,609 | 40,329 | |
Shares vested during the year | 35,622 | 53,454 | 53,699 | |
Shares earned based on market metrics | 63,763 | 106,908 | 30,102 | |
Unvested shares at end of year | 83,464 | 88,990 | 93,579 | |
Unrecognized compensation expense at end of year (in thousands) | $ 1,090 | $ 2,401 | $ 1,260 | |
[1] | The market metrics were not met during 2020, 2019 and 2018 and no TRS shares were earned during these periods. |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Stock-Based Compensation (Parenthetical) (Details) - shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Total Shareholder Return Market-Based Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares earned based on market metrics | 0 | 0 | 0 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Other Expense (Income) - Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Accounting Policies [Abstract] | |||
Interest income | $ (1,952) | $ (2,587) | $ (2,710) |
Interest on regulatory deferrals | (1,222) | (1,460) | (990) |
Equity-related AFUDC | (6,970) | (6,585) | (6,554) |
Non-service portion of pension and other postretirement benefit expenses | 6,433 | 8,899 | 5,156 |
Net (income) loss on investments | (905) | (14,299) | 5,369 |
Other expense (income) | (201) | 1,104 | 1,187 |
Total | $ (4,817) | $ (14,928) | $ 1,458 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Accounting Policies [Abstract] | ||||
Allowance as of the beginning of the year | $ 2,419 | $ 5,233 | $ 5,132 | |
Additions expensed during the year | [1] | 11,280 | 460 | 3,917 |
Net deductions | (2,312) | (3,274) | (3,816) | |
Allowance as of the end of the year | $ 11,387 | $ 2,419 | $ 5,233 | |
[1] | Increase in 2020 related to COVID-19, bad debt expense in excess of the amount recovered through rates of $7.1 million, was deferred as a regulatory asset. |
Summary of Significant Accou_11
Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Parenthetical) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2020USD ($) | |
COVID-19 [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Deferred incremental bad debt expense | $ 7.1 |
Summary of Significant Accou_12
Summary of Significant Accounting Policies - Summary of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill [Line Items] | ||
Balance as of January 1, 2019 | $ 52,426 | $ 57,672 |
Goodwill sold during the year | (5,246) | |
Balance as of December 2019 | 52,426 | 52,426 |
Alaska Electric Light & Power [Member] | ||
Goodwill [Line Items] | ||
Balance as of January 1, 2019 | 52,426 | 52,426 |
Goodwill sold during the year | 0 | |
Balance as of December 2019 | 52,426 | 52,426 |
Corporate and Other [Member] | ||
Goodwill [Line Items] | ||
Balance as of January 1, 2019 | 0 | 12,979 |
Goodwill sold during the year | (12,979) | |
Balance as of December 2019 | 0 | 0 |
Accumulated Impairment Losses [Member] | ||
Goodwill [Line Items] | ||
Balance as of January 1, 2019 | 0 | (7,733) |
Goodwill sold during the year | 7,733 | |
Balance as of December 2019 | $ 0 | $ 0 |
Summary of Significant Accou_13
Summary of Significant Accounting Policies - Summary of Appropriated Retained Earnings Amount Included in Retained Earnings (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Appropriated Retained Earnings [Abstract] | ||
Appropriated retained earnings | $ 47,473 | $ 43,151 |
New Accounting Standards - Addi
New Accounting Standards - Additional Information (Details) | Dec. 31, 2020 |
ASU No. 2016-02 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in accounting principle, accounting standards update, adopted | true |
Change in accounting principle, accounting standards update, adoption date | Jan. 1, 2019 |
ASU No. 2018-13 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in accounting principle, accounting standards update, adopted | true |
Change in accounting principle, accounting standards update, adoption date | Jan. 1, 2020 |
Change in accounting principle, accounting standards update, immaterial effect | true |
ASU No. 2018-14 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in accounting principle, accounting standards update, adopted | true |
Change in accounting principle, accounting standards update, adoption date | Dec. 15, 2020 |
Change in accounting principle, accounting standards update, immaterial effect | true |
Balance Sheet Components - Mate
Balance Sheet Components - Materials and Supplies, Fuel Stock and Stored Natural Gas (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Balance Sheet Related Disclosures [Abstract] | ||
Materials and supplies | $ 53,258 | $ 47,402 |
Fuel stock | 4,658 | 4,875 |
Stored natural gas | 9,535 | 14,306 |
Total | $ 67,451 | $ 66,583 |
Balance Sheet Components - Sche
Balance Sheet Components - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Balance Sheet Related Disclosures [Abstract] | ||
Collateral posted for derivative instruments after netting with outstanding derivative liabilities | $ 4,336 | $ 4,434 |
Prepayments | 24,411 | 19,652 |
Income taxes receivable | 49,814 | 11,047 |
Other | 6,324 | 5,009 |
Total | $ 84,885 | $ 40,142 |
Balance Sheet Components - Othe
Balance Sheet Components - Other Property and Investments-Net and Other Non-current Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Balance Sheet Related Disclosures [Abstract] | ||
Operating lease ROU assets | $ 71,891 | $ 69,746 |
Finance lease ROU assets | 47,338 | 50,980 |
Non-utility property | 19,508 | 27,159 |
Equity investments | 59,318 | 51,258 |
Investment in affiliated trust | 11,547 | 11,547 |
Notes receivable | 14,454 | 14,060 |
Deferred compensation assets | 9,174 | 8,948 |
Assets held for sale | 3,462 | |
Other | 26,947 | 23,394 |
Total | $ 263,639 | $ 257,092 |
Balance Sheet Components - Ot_2
Balance Sheet Components - Other Current Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Balance Sheet Related Disclosures [Abstract] | ||
Accrued taxes other than income taxes | $ 45,099 | $ 36,965 |
Derivative liabilities | 14,008 | 10,928 |
Employee paid time off accruals | 26,495 | 22,343 |
Accrued interest | 17,083 | 16,486 |
Pensions and other postretirement benefits | 11,987 | 8,826 |
Other | 35,159 | 35,431 |
Total | $ 149,831 | $ 130,979 |
Balance Sheet Components - Sc_2
Balance Sheet Components - Schedule of Other Non-Current Liabilities and Deferred Credits (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Balance Sheet Related Disclosures [Abstract] | ||||
Operating lease liabilities | $ 67,716 | $ 65,565 | ||
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilitiesNoncurrent | us-gaap:OtherLiabilitiesNoncurrent | ||
Finance lease liabilities | $ 48,815 | $ 51,750 | ||
Deferred investment tax credits | 29,866 | 30,444 | ||
Asset retirement obligations | 17,194 | 20,338 | $ 18,266 | $ 17,482 |
Derivative liabilities | 37,427 | 19,685 | ||
Other | 13,981 | 13,407 | ||
Total | $ 214,999 | $ 201,189 |
Revenue - Unbilled Accounts Rec
Revenue - Unbilled Accounts Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Revenue From Contract With Customer [Abstract] | ||
Unbilled accounts receivable | $ 71,258 | $ 63,259 |
Revenue - Schedule of Utilities
Revenue - Schedule of Utilities Operating Revenue Expense Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue From Contract With Customer [Abstract] | |||
Utility-related taxes | $ 59,319 | $ 59,528 | $ 58,730 |
Revenue - Additional Informatio
Revenue - Additional Information (Details) $ in Millions | Dec. 31, 2020USD ($) |
Revenue From Contract With Customer [Abstract] | |
Revenue, Remaining Performance Obligation, Amount | $ 23.8 |
Revenue - Disaggregation of Rev
Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disaggregation of Revenue [Line Items] | |||
Revenues | $ 1,321,891 | $ 1,345,622 | $ 1,396,893 |
Residential Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 396,403 | 386,236 | 387,259 |
Commercial and Governmental Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 327,726 | 336,980 | 340,521 |
Industrial Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 103,103 | 105,802 | 109,846 |
Public Street and Highway Lighting Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 7,555 | 7,702 | 7,802 |
Retail Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 834,787 | 836,720 | 845,428 |
Transmission Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 18,236 | 18,180 | 17,864 |
Other Electric Revenues from Contracts With Customers [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 19,252 | 26,969 | 27,364 |
Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 872,275 | 881,869 | 890,656 |
Avista Utilities [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,277,468 | 1,295,873 | 1,325,966 |
Avista Utilities [Member] | Residential Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 377,785 | 369,102 | 368,753 |
Avista Utilities [Member] | Commercial and Governmental Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 303,972 | 317,589 | 314,532 |
Avista Utilities [Member] | Industrial Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 103,103 | 105,802 | 109,846 |
Avista Utilities [Member] | Public Street and Highway Lighting Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 7,303 | 7,448 | 7,539 |
Avista Utilities [Member] | Retail Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 792,163 | 799,941 | 800,670 |
Avista Utilities [Member] | Transmission Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 18,236 | 18,180 | 17,864 |
Avista Utilities [Member] | Other Electric Revenues from Contracts With Customers [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 19,252 | 26,969 | 27,364 |
Avista Utilities [Member] | Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 829,651 | 845,090 | 845,898 |
Avista Utilities [Member] | Residential Natural Gas [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 213,612 | 196,430 | 194,340 |
Avista Utilities [Member] | Commercial Natural Gas [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 94,937 | 92,168 | 89,341 |
Avista Utilities [Member] | Industrial and Interruptible Natural Gas [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 7,128 | 5,263 | 4,753 |
Avista Utilities [Member] | Retail Natural Gas [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 315,677 | 293,861 | 288,434 |
Avista Utilities [Member] | Transportation Natural Gas [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 7,917 | 8,674 | 9,103 |
Avista Utilities [Member] | Other Natural Gas Revenues from Contracts With Customers [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 4,501 | 4,500 | 4,500 |
Avista Utilities [Member] | Natural Gas [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 328,095 | 307,035 | 302,037 |
Avista Utilities [Member] | Revenue from Contracts with Customers | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,157,746 | 1,152,125 | 1,147,935 |
Avista Utilities [Member] | Derivative revenues | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 110,313 | 118,741 | 186,459 |
Avista Utilities [Member] | Alternative Revenue Programs [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | (3,814) | 9,614 | 908 |
Avista Utilities [Member] | Deferrals and Amortizations for Rate Refunds to Customers | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 5,335 | 4,509 | (18,241) |
Avista Utilities [Member] | Other Utility Revenues | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 7,888 | 10,884 | 8,905 |
Alaska Electric Light & Power [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 42,809 | 37,265 | 43,599 |
Alaska Electric Light & Power [Member] | Residential Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 18,618 | 17,134 | 18,506 |
Alaska Electric Light & Power [Member] | Commercial and Governmental Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 23,754 | 19,391 | 25,989 |
Alaska Electric Light & Power [Member] | Industrial Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 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 | 252 | 254 | 263 |
Alaska Electric Light & Power [Member] | Retail Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 42,624 | 36,779 | 44,758 |
Alaska Electric Light & Power [Member] | Transmission Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 0 | 0 | 0 |
Alaska Electric Light & Power [Member] | Other Electric Revenues from Contracts With Customers [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 0 | 0 | 0 |
Alaska Electric Light & Power [Member] | Electric [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contract with customer including assessed tax | 42,624 | 36,779 | 44,758 |
Alaska Electric Light & Power [Member] | Revenue from Contracts with Customers | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 42,624 | 36,779 | 44,758 |
Alaska Electric Light & Power [Member] | Deferrals and Amortizations for Rate Refunds to Customers | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | (190) | (190) | (1,753) |
Alaska Electric Light & Power [Member] | Other Utility Revenues | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 375 | 676 | 594 |
Corporate and Other [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,614 | 12,484 | 27,328 |
Corporate and Other [Member] | Revenue from Contracts with Customers | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 564 | 11,286 | 26,154 |
Corporate and Other [Member] | Other Revenues | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | $ 1,050 | $ 1,198 | $ 1,174 |
Leases - Additional Information
Leases - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Lessee, Lease, Description [Line Items] | |
Operating lease, existence of option to extend | true |
Minimum [Member] | |
Lessee, Lease, Description [Line Items] | |
Operating lease, remaining terms of contract | 1 year |
Operating lease, options to extend lease term | 5 years |
Maximum [Member] | |
Lessee, Lease, Description [Line Items] | |
Operating lease, remaining terms of contract | 73 years |
Operating lease, options to extend lease term | 50 years |
Snettisham Hydroelectric Project [Member] | |
Lessee, Lease, Description [Line Items] | |
Finance lease expiration year | 2034 |
State of Montana [Member] | Hydroelectric Facilities in the Clark Fork River Basin [Member] | |
Lessee, Lease, Description [Line Items] | |
Operating lease expiration year | 2046 |
ASC 842 [Member] | |
Lessee, Lease, Description [Line Items] | |
Change in accounting principle, accounting standards update, adopted | true |
Change in accounting principle, accounting standards update, adoption date | Jan. 1, 2019 |
Leases - Components of Lease Ex
Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Lessee, Lease, Description [Line Items] | ||
Fixed lease cost (Other operating expenses) | $ 4,746 | $ 4,425 |
Variable lease cost (Other operating expenses) | 1,099 | 988 |
Amortization of ROU asset (Depreciation and amortization) | 3,641 | 3,641 |
Interest on lease liabilities (Interest expense) | 2,662 | 2,795 |
Operating Lease [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lease, Cost | 5,845 | 5,413 |
Finance Lease [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lease, Cost | $ 6,303 | $ 6,436 |
Leases - Summary of Supplementa
Leases - Summary of Supplemental Cash Flow Information related to Leases (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Operating cash outflows: | ||
Operating lease payments | $ 4,612 | $ 4,375 |
Interest on finance lease | 2,662 | 2,795 |
Total operating cash outflows | 7,274 | 7,170 |
Finance cash outflows: | ||
Principal payments on finance lease | $ 2,800 | $ 2,660 |
Leases - Summary of Supplemen_2
Leases - Summary of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Leases [Abstract] | ||
Operating lease ROU assets | $ 71,891 | $ 69,746 |
Operating Lease, Liability, Current | $ 4,249 | $ 4,128 |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilitiesCurrent | us-gaap:OtherLiabilitiesCurrent |
Operating Lease, Liability, Noncurrent | $ 67,716 | $ 65,565 |
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilitiesNoncurrent | us-gaap:OtherLiabilitiesNoncurrent |
Operating Lease, Liability | $ 71,965 | $ 69,693 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | us-gaap:Liabilities | us-gaap:Liabilities |
Finance lease ROU assets | $ 47,338 | $ 50,980 |
Finance Lease, Liability, Current | 2,935 | 2,800 |
Finance Lease, Liability, Noncurrent | 48,815 | 51,750 |
Finance Lease, Liability | $ 51,750 | $ 54,550 |
Operating leases, Weighted Average Remaining Lease Term | 25 years 2 months 12 days | 26 years 7 months 6 days |
Finance leases, Weighted Average Remaining Lease Term | 7 years 2 months 19 days | 8 years 3 months 7 days |
Operating leases, Weighted Average Discount Rate | 4.28% | 3.82% |
Finance leases, Weighted Average Discount Rate | 4.62% | 4.88% |
Leases - Summary of Maturities
Leases - Summary of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Leases [Abstract] | ||
Operating Leases, Liability, Payments, Due year one | $ 4,779 | $ 4,372 |
Operating Leases, Liability, Payments, Due year two | 4,799 | 4,375 |
Operating Leases, Liability, Payments, Due year three | 4,827 | 4,383 |
Operating Leases, Liability, Payments, Due year four | 4,852 | 4,399 |
Operating Leases, Liability, Payments, Due year five | 4,865 | 4,411 |
Operating Leases, Thereafter | 96,734 | 91,654 |
Operating Leases, Total lease payments | 120,856 | 113,594 |
Operating Leases, Less: imputed interest | (48,891) | (43,901) |
Operating Leases, Total | $ 71,965 | $ 69,693 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | us-gaap:Liabilities | us-gaap:Liabilities |
Finance Leases, Liability, Payments, Due year one | $ 5,457 | $ 5,462 |
Finance Leases, Liability, Payments, Due year two | 5,460 | 5,457 |
Finance Leases, Liability, Payments, Due year three | 5,456 | 5,460 |
Finance Leases, Liability, Payments, Due year four | 5,459 | 5,456 |
Finance Leases, Liability, Payments, Due year five | 5,454 | 5,459 |
Finance Leases, Thereafter | 43,661 | 49,115 |
Finance Leases, Total lease payments | 70,947 | 76,409 |
Finance Leases, Less: imputed interest | (19,197) | (21,859) |
Finance Leases, Total | $ 51,750 | $ 54,550 |
Variable Interest Entities (Det
Variable Interest Entities (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020USD ($)MW | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | $ 6,402,097 | $ 6,082,456 | $ 5,782,576 |
Limited Partnerships and Similar Entities [Member] | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | 56,200 | ||
Variable Interest Entity Remaining Investment Commitment Amount | $ 30,700 | ||
Minimum [Member] | Limited Partnerships and Similar Entities [Member] | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Restrictions on Withdrawal of Member Capital Account | 2021 | ||
Maximum [Member] | Limited Partnerships and Similar Entities [Member] | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Restrictions on Withdrawal of Member Capital Account | 2040 | ||
Variable Interest Entity, Not Primary Beneficiary [Member] | Limited Partnerships and Similar Entities [Member] | VIE Commitments [Member] | |||
Variable Interest Entity [Line Items] | |||
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | $ 51,200 | ||
Lancaster Power Purchase Agreement [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Evaluated Power Capacity | MW | 270 | ||
Variable Interest Entity, Reporting Entity Involvement, Contractual Commitment, Amount | $ 175,100 | ||
Lancaster Power Purchase Agreement [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Minimum [Member] | |||
Variable Interest Entity [Line Items] | |||
Average service lives for the utility plan in service | 15 years | ||
Lancaster Power Purchase Agreement [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Maximum [Member] | |||
Variable Interest Entity [Line Items] | |||
Average service lives for the utility plan in service | 25 years |
Derivatives and Risk Manageme_3
Derivatives and Risk Management - Schedule of Energy Commodity Derivative Volumes (Details) MWh in Thousands, MMBTU in Thousands | 12 Months Ended | |
Dec. 31, 2020MWhMMBTU | Dec. 31, 2019MWhMMBTU | |
Purchase [Member] | Physical [Member] | Electric Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2021 | MWh | 1 | 2 |
2022 | MWh | 0 | 0 |
2023 | MWh | 0 | 0 |
2024 | MWh | 0 | |
2025 | MWh | 0 | |
Purchase [Member] | Physical [Member] | Gas Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2021 | MMBTU | 10,353 | 9,813 |
2022 | MMBTU | 450 | 153 |
2023 | MMBTU | 0 | 225 |
2024 | MMBTU | 0 | |
2025 | MMBTU | 0 | |
Purchase [Member] | Financial [Member] | Electric Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2021 | MWh | 224 | 442 |
2022 | MWh | 0 | 0 |
2023 | MWh | 0 | 0 |
2024 | MWh | 0 | |
2025 | MWh | 0 | |
Purchase [Member] | Financial [Member] | Gas Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2021 | MMBTU | 65,188 | 78,803 |
2022 | MMBTU | 25,525 | 25,523 |
2023 | MMBTU | 4,950 | 4,725 |
2024 | MMBTU | 0 | |
2025 | MMBTU | 0 | |
Sales [Member] | Physical [Member] | Electric Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2021 | MWh | 17 | 133 |
2022 | MWh | 0 | 0 |
2023 | MWh | 0 | 0 |
2024 | MWh | 0 | |
2025 | MWh | 0 | |
Sales [Member] | Physical [Member] | Gas Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2021 | MMBTU | 5,448 | 2,984 |
2022 | MMBTU | 1,360 | 1,040 |
2023 | MMBTU | 1,360 | 0 |
2024 | MMBTU | 1,370 | |
2025 | MMBTU | 1,115 | |
Sales [Member] | Financial [Member] | Electric Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2021 | MWh | 451 | 1,724 |
2022 | MWh | 0 | 246 |
2023 | MWh | 0 | 0 |
2024 | MWh | 0 | |
2025 | MWh | 0 | |
Sales [Member] | Financial [Member] | Gas Derivative [Member] | ||
Energy Commodity Derivative Volumes [Line Items] | ||
2021 | MMBTU | 39,273 | 37,848 |
2022 | MMBTU | 12,030 | 13,108 |
2023 | MMBTU | 900 | 675 |
2024 | MMBTU | 0 | |
2025 | MMBTU | 0 |
Derivatives and Risk Manageme_4
Derivatives and Risk Management - Additional Information (Details) | 12 Months Ended | |
Dec. 31, 2020USD ($)MWhMMBTU | Dec. 31, 2019USD ($)MWhMMBTU | |
Canadian [Member] | ||
Derivative [Line Items] | ||
Number of days Canadian currency prices are settled with U.S. dollars | 60 days | |
Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Letters of credit outstanding | $ | $ 0 | $ 0 |
Purchase [Member] | Physical [Member] | Electric Derivative [Member] | ||
Derivative [Line Items] | ||
Expected deliveries of energy commodity derivatives after five years | MWh | 0 | |
Expected deliveries of energy commodity derivatives after three years | MWh | 0 | |
Purchase [Member] | Physical [Member] | Gas Derivative [Member] | ||
Derivative [Line Items] | ||
Expected deliveries of energy commodity derivatives after five years | MMBTU | 0 | |
Expected deliveries of energy commodity derivatives after three years | MMBTU | 0 | |
Purchase [Member] | Financial [Member] | Electric Derivative [Member] | ||
Derivative [Line Items] | ||
Expected deliveries of energy commodity derivatives after five years | MWh | 0 | |
Expected deliveries of energy commodity derivatives after three years | MWh | 0 | |
Purchase [Member] | Financial [Member] | Gas Derivative [Member] | ||
Derivative [Line Items] | ||
Expected deliveries of energy commodity derivatives after five years | MMBTU | 0 | |
Expected deliveries of energy commodity derivatives after three years | MMBTU | 0 | |
Sales [Member] | Physical [Member] | Electric Derivative [Member] | ||
Derivative [Line Items] | ||
Expected deliveries of energy commodity derivatives after five years | MWh | 0 | |
Expected deliveries of energy commodity derivatives after three years | MWh | 0 | |
Sales [Member] | Physical [Member] | Gas Derivative [Member] | ||
Derivative [Line Items] | ||
Expected deliveries of energy commodity derivatives after five years | MMBTU | 0 | |
Expected deliveries of energy commodity derivatives after three years | MMBTU | 0 | |
Sales [Member] | Financial [Member] | Electric Derivative [Member] | ||
Derivative [Line Items] | ||
Expected deliveries of energy commodity derivatives after five years | MWh | 0 | |
Expected deliveries of energy commodity derivatives after three years | MWh | 0 | |
Sales [Member] | Financial [Member] | Gas Derivative [Member] | ||
Derivative [Line Items] | ||
Expected deliveries of energy commodity derivatives after five years | MMBTU | 0 | |
Expected deliveries of energy commodity derivatives after three years | MMBTU | 0 |
Derivatives and Risk Manageme_5
Derivatives and Risk Management - Summary of Foreign Currency Exchange Derivatives (Details) $ in Thousands, $ in Thousands | Dec. 31, 2020USD ($)derivative_contracts | Dec. 31, 2020CAD ($)derivative_contracts | Dec. 31, 2019USD ($)derivative_contracts | Dec. 31, 2019CAD ($)derivative_contracts |
Foreign Currency Fair Value Hedge Derivative [Line Items] | ||||
Number of contracts | derivative_contracts | 22 | 22 | 20 | 20 |
United States of America, Dollars [Member] | Foreign Exchange Contract [Member] | ||||
Foreign Currency Fair Value Hedge Derivative [Line Items] | ||||
Notional amount | $ 3,860 | $ 5,932 | ||
Canada, Dollars [Member] | Foreign Exchange Contract [Member] | ||||
Foreign Currency Fair Value Hedge Derivative [Line Items] | ||||
Notional amount | $ 4,949 | $ 7,828 |
Derivatives and Risk Manageme_6
Derivatives and Risk Management - Summary of Unsettled Interest Rate Swap Derivatives (Details) - Interest Rate Swap [Member] $ in Thousands | 12 Months Ended | |
Dec. 31, 2020USD ($)Contract | Dec. 31, 2019USD ($)Contract | |
2021 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Number of Contracts | Contract | 4 | 3 |
Notional Amount | $ | $ 45,000 | $ 35,000 |
Mandatory Cash Settlement Date | 2021 | 2021 |
2022 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Number of Contracts | Contract | 11 | 10 |
Notional Amount | $ | $ 120,000 | $ 110,000 |
Mandatory Cash Settlement Date | 2022 | 2022 |
2023 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Number of Contracts | Contract | 1 | |
Notional Amount | $ | $ 10,000 | |
Mandatory Cash Settlement Date | 2023 | |
2020 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Number of Contracts | Contract | 7 | |
Notional Amount | $ | $ 70,000 | |
Mandatory Cash Settlement Date | 2020 |
Derivatives and Risk Manageme_7
Derivatives and Risk Management - Schedules of Fair Values and Locations of Derivative Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Derivatives, Fair Value [Line Items] | ||
Gross Asset | $ 24,702 | $ 43,222 |
Gross Liability | (83,280) | (82,203) |
Collateral Netting | 8,666 | 10,148 |
Net Asset (Liability) on Balance Sheet | (49,912) | (28,833) |
Commodity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Collateral Netting | 616 | 3,378 |
Other Current Assets [Member] | Foreign Exchange Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 30 | 97 |
Net Asset (Liability) on Balance Sheet | 30 | 97 |
Other Current Assets [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 589 | |
Net Asset (Liability) on Balance Sheet | 589 | |
Other Current Assets [Member] | Commodity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 9,203 | 416 |
Gross Liability | (8,306) | (245) |
Net Asset (Liability) on Balance Sheet | 897 | 171 |
Other Current Liabilities [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 238 | |
Gross Liability | (19,575) | (9,379) |
Collateral Netting | 8,050 | 1,316 |
Net Asset (Liability) on Balance Sheet | (11,525) | (7,825) |
Other Current Liabilities [Member] | Commodity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 11,037 | 34,760 |
Gross Liability | (14,007) | (41,241) |
Collateral Netting | 487 | 3,378 |
Net Asset (Liability) on Balance Sheet | (2,483) | (3,103) |
Other Noncurrent Liabilities [Member] | Interest Rate Swap [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 952 | 725 |
Gross Liability | (32,190) | (24,677) |
Collateral Netting | 5,454 | |
Net Asset (Liability) on Balance Sheet | (31,238) | (18,498) |
Other Noncurrent Liabilities [Member] | Commodity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 1,725 | 28 |
Gross Liability | (8,043) | (1,215) |
Collateral Netting | 129 | |
Net Asset (Liability) on Balance Sheet | (6,189) | (1,187) |
Other Property And Investments Net And Other Non-current Assets [Member] | Commodity Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross Asset | 1,755 | 6,369 |
Gross Liability | (1,159) | (5,446) |
Net Asset (Liability) on Balance Sheet | $ 596 | $ 923 |
Derivatives and Risk Manageme_8
Derivatives and Risk Management - Schedule of Collateral Outstanding Related to Derivative Instruments (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Derivative [Line Items] | ||
Balance sheet offsetting (cash collateral against net derivative positions) | $ 8,666,000 | $ 10,148,000 |
Commodity Contracts [Member] | ||
Derivative [Line Items] | ||
Cash collateral posted | 4,953,000 | 7,812,000 |
Letters of credit outstanding | 23,500,000 | 17,400,000 |
Balance sheet offsetting (cash collateral against net derivative positions) | 616,000 | 3,378,000 |
Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Cash collateral posted | 8,050,000 | 6,770,000 |
Letters of credit outstanding | 0 | 0 |
Liabilities with credit-risk-related contingent features | 50,813,000 | 34,056,000 |
Additional collateral to post | $ 42,763,000 | $ 26,912,000 |
Jointly Owned Electric Facili_3
Jointly Owned Electric Facilities - Additional Information (Details) | Dec. 31, 2020 |
Jointly Owned Utility Plant Net Ownership Amount [Abstract] | |
Owners percentage interest | 15.00% |
Jointly Owned Electric Facili_4
Jointly Owned Electric Facilities - Schedule of Utility Plant in Service for Colstrip And Accumulated Depreciation (Details) - Colstrip Generating Project [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Jointly Owned Utility Plant Interests [Line Items] | ||
Utility plant in service | $ 391,922 | $ 387,860 |
Accumulated depreciation | $ (284,282) | $ (268,637) |
Property, Plant And Equipment -
Property, Plant And Equipment - Schedule of Net Utility Property (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Property Plant And Equipment [Abstract] | ||
Utility plant in service | $ 6,809,797 | $ 6,462,993 |
Construction work in progress | 175,767 | 164,941 |
Total | 6,985,564 | 6,627,934 |
Less: Accumulated depreciation and amortization | 1,993,952 | 1,830,927 |
Total net utility property | $ 4,991,612 | $ 4,797,007 |
Property, Plant And Equipment_2
Property, Plant And Equipment - Schedule of Major Classifications of Property, Plant And Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Public Utility, Property, Plant and Equipment [Line Items] | ||
Construction work-in-progress (CWIP) and other | $ 175,767 | $ 164,941 |
Total | 6,985,564 | 6,627,934 |
Other Property | 263,639 | 257,092 |
Total | 7,001,958 | 6,656,129 |
Avista Utilities [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Total | 6,815,891 | 6,462,326 |
Common Plant | 712,609 | 681,711 |
Avista Utilities [Member] | Electricity [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 1,457,497 | 1,445,017 |
Transmission | 862,987 | 802,546 |
Distribution | 1,978,868 | 1,847,273 |
Construction work-in-progress (CWIP) and other | 384,372 | 350,331 |
Total | 4,683,724 | 4,445,167 |
Avista Utilities [Member] | Natural Gas [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Distribution | 1,282,563 | 1,203,186 |
Construction work-in-progress (CWIP) and other | 83,644 | 81,245 |
Total | 1,419,558 | 1,335,448 |
Natural gas underground storage | 53,351 | 51,017 |
Alaska Electric Light & Power [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Total | 169,673 | 165,608 |
Common Plant | 9,687 | 9,525 |
Alaska Electric Light & Power [Member] | Electricity [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Production | 105,076 | 100,448 |
Transmission | 22,419 | 22,000 |
Distribution | 25,814 | 24,096 |
Construction work-in-progress (CWIP) and other | 6,677 | 9,539 |
Total | 159,986 | 156,083 |
Corporate and Other [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Other Property | $ 16,394 | $ 28,195 |
Property, Plant And Equipment_3
Property, Plant And Equipment - Schedule of Major Classifications of Property, Plant And Equipment (Parenthetical) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Corporate and Other [Member] | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Accumulated depreciation | $ 2.2 | $ 5.4 |
Asset Retirement Obligations -
Asset Retirement Obligations - Schedule of Changes in Asset Retirement Obligation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Asset Retirement Obligation Disclosure [Abstract] | |||
Asset retirement obligation at beginning of year | $ 20,338 | $ 18,266 | $ 17,482 |
Liabilities incurred | (2,315) | 2,699 | |
Liabilities settled | (1,645) | (1,503) | (66) |
Accretion expense | 816 | 876 | 850 |
Asset retirement obligation at end of year | $ 17,194 | $ 20,338 | $ 18,266 |
Pension Plans and Other Postr_3
Pension Plans and Other Postretirement Benefit Plans - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2021 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Payment for pension benefits | $ 22,000 | $ 22,000 | $ 22,000 | |
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% | |||
Deferred Compensation, Excluding Share-based Payments and Retirement Benefits [Member] | Executive Officer [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Deferred compensation, earlier of retirement, termination, disability or death, percent | 75.00% | |||
Deferred compensation incentive payments, percent | 100.00% | |||
Equity Securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target investment allocation | 35.00% | 35.00% | ||
Debt Securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target investment allocation | 49.00% | 49.00% | ||
Real Estate [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target investment allocation | 7.00% | 7.00% | ||
Absolute Return [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target investment allocation | 9.00% | 9.00% | ||
Pension Plans, Defined Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected contributions to pension plan | $ 42,000 | |||
Other Postretirement Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected contributions to pension plan | $ 6,800 | |||
Other Postretirement Benefits [Member] | Equity Securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target investment allocation | 60.00% | 60.00% | ||
Other Postretirement Benefits [Member] | Debt Securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target investment allocation | 40.00% | 40.00% | ||
Other Postretirement Benefits [Member] | Forecast [Member] | Equity Securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target investment allocation | 55.00% | |||
Other Postretirement Benefits [Member] | Forecast [Member] | Debt Securities | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target investment allocation | 40.00% | |||
Other Postretirement Benefits [Member] | Forecast [Member] | Real Estate [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target investment allocation | 5.00% | |||
Other Postretirement Benefits [Member] | Forecast [Member] | Absolute Return [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Target investment allocation | 0.00% |
Pension Plans and Other Postr_4
Pension Plans and Other Postretirement Benefit Plans - Schedule of Expected Benefit Payments (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Pension Plan And SERP [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2021 | $ 42,390 |
2022 | 42,673 |
2023 | 42,478 |
2024 | 43,149 |
2025 | 43,752 |
Total 2026- 2030 | 223,788 |
Other Postretirement Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2021 | 6,610 |
2022 | 6,800 |
2023 | 6,891 |
2024 | 7,021 |
2025 | 7,164 |
Total 2026- 2030 | $ 37,156 |
Pension Plans and Other Postr_5
Pension Plans and Other Postretirement Benefit Plans - Change in Benefit Obligation and Plan Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Other current liabilities | $ (11,987) | $ (8,826) | |
Non-current liabilities | (211,880) | (212,006) | |
Accumulated other comprehensive loss for unfunded benefit obligation for pensions and other postretirement benefit plans | (14,378) | (10,259) | |
Pension Plan And SERP [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Benefit obligation as of beginning of year | 742,382 | 671,629 | |
Service cost | 22,392 | 19,755 | $ 21,614 |
Interest cost | 27,853 | 28,417 | 26,096 |
Actuarial (gain)/loss | 74,688 | 57,829 | |
Benefits paid | (40,400) | (35,248) | |
Benefit obligation as of end of year | 826,915 | 742,382 | 671,629 |
Fair value of plan assets as of beginning of year | 642,063 | 544,051 | |
Actual return on plan assets | 96,591 | 109,942 | |
Employer contributions | 22,000 | 22,000 | |
Benefits paid | (38,630) | (33,930) | |
Fair value of plan assets as of end of year | 722,024 | 642,063 | 544,051 |
Funded status | (104,891) | (100,319) | |
Other current liabilities | (1,943) | (1,602) | |
Non-current liabilities | (102,948) | (98,717) | |
Net amount recognized | (104,891) | (100,319) | |
Accumulated pension benefit obligation | 710,023 | 644,004 | |
Unrecognized prior service cost | 1,902 | 2,105 | |
Unrecognized net actuarial loss | 119,318 | 114,368 | |
Total | 121,220 | 116,473 | |
Less regulatory asset | (108,301) | (107,395) | |
Accumulated other comprehensive loss for unfunded benefit obligation for pensions and other postretirement benefit plans | $ 12,919 | $ 9,078 | |
Discount rate for benefit obligation | 3.25% | 3.85% | |
Discount rate for annual expense | 3.85% | 4.31% | |
Expected long-term return on plan assets | 5.50% | 5.90% | |
Rate of compensation increase | 4.74% | 4.66% | |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Benefit obligation as of beginning of year | $ 159,296 | $ 134,053 | |
Service cost | 3,902 | 3,006 | 3,188 |
Interest cost | 6,042 | 5,598 | 4,831 |
Actuarial (gain)/loss | (2,589) | 23,344 | |
Benefits paid | (5,418) | (6,705) | |
Benefit obligation as of end of year | 161,233 | 159,296 | 134,053 |
Fair value of plan assets as of beginning of year | 44,853 | 36,852 | |
Actual return on plan assets | 7,320 | 8,001 | |
Fair value of plan assets as of end of year | 52,173 | 44,853 | $ 36,852 |
Funded status | (109,060) | (114,443) | |
Other current liabilities | (669) | (640) | |
Non-current liabilities | (108,391) | (113,803) | |
Net amount recognized | (109,060) | (114,443) | |
Unrecognized prior service cost | (3,570) | (4,400) | |
Unrecognized net actuarial loss | 53,737 | 63,101 | |
Total | 50,167 | 58,701 | |
Less regulatory asset | (48,708) | (57,520) | |
Accumulated other comprehensive loss for unfunded benefit obligation for pensions and other postretirement benefit plans | $ 1,459 | $ 1,181 | |
Discount rate for benefit obligation | 3.27% | 3.89% | |
Discount rate for annual expense | 3.89% | 4.32% | |
Expected long-term return on plan assets | 5.30% | 5.70% | |
Other Postretirement Benefits [Member] | Pre-Age 65 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Medical cost trend – initial | 6.25% | 5.75% | |
Medical cost trend – ultimate | 5.00% | 5.00% | |
Ultimate medical cost trend year | 2026 | 2023 | |
Other Postretirement Benefits [Member] | Post-Age 65 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Medical cost trend – initial | 6.25% | 6.50% | |
Medical cost trend – ultimate | 5.00% | 5.00% | |
Ultimate medical cost trend year | 2026 | 2026 | |
Other Postretirement Benefits [Member] | Retirees [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Benefit obligation as of beginning of year | $ 72,816 | ||
Benefit obligation as of end of year | 75,876 | $ 72,816 | |
Other Postretirement Benefits [Member] | Fully eligible employees [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Benefit obligation as of beginning of year | 34,545 | ||
Benefit obligation as of end of year | 32,097 | 34,545 | |
Other Postretirement Benefits [Member] | Other participants [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Benefit obligation as of beginning of year | 51,935 | ||
Benefit obligation as of end of year | $ 53,260 | $ 51,935 |
Pension Plans and Other Postr_6
Pension Plans and Other Postretirement Benefit Plans - Components of Net Periodic Benefit Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Pension Plan And SERP [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 22,392 | $ 19,755 | $ 21,614 |
Interest cost | 27,853 | 28,417 | 26,096 |
Expected return on plan assets | (34,886) | (31,763) | (33,018) |
Amortization of prior service cost | 257 | 257 | 257 |
Net loss recognition | 6,717 | 10,216 | 7,879 |
Net periodic benefit cost | 22,333 | 26,882 | 22,828 |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 3,902 | 3,006 | 3,188 |
Interest cost | 6,042 | 5,598 | 4,831 |
Expected return on plan assets | (2,377) | (2,101) | (1,973) |
Amortization of prior service cost | (958) | (981) | (1,089) |
Net loss recognition | 4,871 | 4,013 | 4,232 |
Net periodic benefit cost | $ 11,480 | $ 9,535 | $ 9,189 |
Pension Plans and Other Postr_7
Pension Plans and Other Postretirement Benefit Plans - Investment Allocation Percentages By Asset Classes (Details) | Dec. 31, 2020 | Dec. 31, 2019 |
Equity Securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target investment allocation | 35.00% | 35.00% |
Debt Securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target investment allocation | 49.00% | 49.00% |
Real Estate [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target investment allocation | 7.00% | 7.00% |
Absolute Return [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target investment allocation | 9.00% | 9.00% |
Pension Plans and Other Postr_8
Pension Plans and Other Postretirement Benefit Plans - Schedule of Fair Value Hierarchy of pension Plan's Assets (Details) - Pension Plan And SERP [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 722,024 | $ 642,063 | $ 544,051 |
Cash Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,309 | 2,852 | |
Fixed Income Securities [Member] | US Government Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 10,990 | 37,297 | |
Fixed Income Securities [Member] | Domestic Corporate Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 279,857 | 207,222 | |
Fixed Income Securities [Member] | Debt Security, Government, Non-US [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 39,634 | 35,836 | |
Fixed Income Securities [Member] | Municipal Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 22,431 | 23,539 | |
Mutual Funds [Member] | U.S Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 146,375 | 173,568 | |
Mutual Funds [Member] | International Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 96,311 | 46,416 | |
Mutual Funds [Member] | Absolute Return [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 11,640 | 16,720 | |
Common/Collective Trusts [Member] | Real Estate [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 29,532 | 31,473 | |
Partnership And Closely Held Investments [Member] | International Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 26,760 | ||
Partnership And Closely Held Investments [Member] | Absolute Return [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 47,188 | 59,260 | |
Partnership And Closely Held Investments [Member] | Real Estate [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7,997 | 7,880 | |
Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 254,326 | 236,704 | |
Level 1 [Member] | Mutual Funds [Member] | U.S Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 146,375 | 173,568 | |
Level 1 [Member] | Mutual Funds [Member] | International Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 96,311 | 46,416 | |
Level 1 [Member] | Mutual Funds [Member] | Absolute Return [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 11,640 | 16,720 | |
Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 356,221 | 306,746 | |
Level 2 [Member] | Cash Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,309 | 2,852 | |
Level 2 [Member] | Fixed Income Securities [Member] | US Government Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 10,990 | 37,297 | |
Level 2 [Member] | Fixed Income Securities [Member] | Domestic Corporate Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 279,857 | 207,222 | |
Level 2 [Member] | Fixed Income Securities [Member] | Debt Security, Government, Non-US [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 39,634 | 35,836 | |
Level 2 [Member] | Fixed Income Securities [Member] | Municipal Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 22,431 | $ 23,539 |
Pension Plans and Other Postr_9
Pension Plans and Other Postretirement Benefit Plans - Schedule of Fair Value Hierarchy of Other Postretirement Plan Assets (Details) - Other Postretirement Benefits [Member] - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 52,173 | $ 44,853 | $ 36,852 |
Mutual Fund [Member] | Balanced Fund [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 52,173 | 44,853 | |
Level 1 [Member] | Mutual Fund [Member] | Balanced Fund [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 52,173 | $ 44,853 |
Pension Plans and Other Post_10
Pension Plans and Other Postretirement Benefit Plans - Employer Matching Contributions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
General Discussion Of Pension And Other Postretirement Benefits [Abstract] | |||
Employer 401(k) matching contributions | $ 11,742 | $ 10,412 | $ 10,243 |
Pension Plans and Other Post_11
Pension Plans and Other Postretirement Benefit Plans - Deferred Compensation Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred Compensation, Excluding Share-based Payments and Retirement Benefits [Member] | ||
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items] | ||
Deferred compensation assets and liabilities | $ 9,174 | $ 8,948 |
Accounting For Income Taxes - S
Accounting For Income Taxes - Schedule of Components of Income Tax Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Current income tax expense (benefit) | $ (37,913) | $ 16,276 | $ 17,490 |
Deferred income tax expense | 44,964 | 15,098 | 8,570 |
Total income tax expense | $ 7,051 | $ 31,374 | $ 26,060 |
Accounting For Income Taxes - A
Accounting For Income Taxes - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Federal statutory tax rate | 21.00% | 21.00% | 21.00% | 35.00% |
State Tax Credit Carryforward [Member] | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Tax credit carryforward, amount | $ 18.3 | |||
Tax credit carryforwards, net of valuation allowance | 8.6 | |||
Tax credit carryforward, valuation allowance | $ (9.7) | |||
Minimum [Member] | State Tax Credit Carryforward [Member] | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Tax credit carryforward, expiration date | 2021 | |||
Maximum [Member] | State Tax Credit Carryforward [Member] | ||||
Components of Income Tax Expense (Benefit) [Line Items] | ||||
Tax credit carryforward, expiration date | 2034 |
Accounting For Income Taxes -_2
Accounting For Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | ||||
Federal income taxes at statutory rates | $ 28,673 | $ 47,909 | $ 34,158 | |
Tax effect of regulatory treatment of utility plant differences | (12,893) | (9,967) | (8,153) | |
State income tax expense | 814 | 1,465 | 1,191 | |
Acquisition costs | (1,712) | 329 | ||
Non-plant excess deferred turnaround | (8,476) | (5,690) | ||
Tax loss on sale of METALfx | (1,272) | |||
Customer refunds related to prior years at 35 percent | (1,189) | |||
Other | 122 | 641 | (1,465) | |
Total income tax expense | $ 7,051 | $ 31,374 | $ 26,060 | |
Federal statutory tax rate | 21.00% | 21.00% | 21.00% | 35.00% |
Tax effect of regulatory treatment of utility plant differences | (9.40%) | (4.30%) | (5.00%) | |
State income tax expense | 0.60% | 0.60% | 0.70% | |
Acquisition costs | (0.70%) | 0.20% | ||
Non-plant excess deferred turnaround | (6.20%) | (2.50%) | ||
Tax loss on sale of METALfx | (0.60%) | |||
Customer refunds related to prior years at 35 percent | (0.90%) | |||
Other | 0.10% | 0.30% | (0.90%) | |
Effective Income Tax Rate Reconciliation, Percent | 5.20% | 13.80% | 16.00% |
Accounting For Income Taxes -_3
Accounting For Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Parenthetical) (Details) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | ||||
Federal statutory tax rate | 21.00% | 21.00% | 21.00% | 35.00% |
Accounting For Income Taxes -_4
Accounting For Income Taxes - Schedule of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred income tax assets: | ||
Regulatory liabilities | $ 179,871 | $ 181,455 |
Tax credits and NOL carryforwards | 57,516 | 22,331 |
Provisions for pensions | 37,501 | 41,648 |
Other | 42,641 | 36,542 |
Total gross deferred income tax assets | 317,529 | 281,976 |
Valuation allowances for deferred tax assets | (10,021) | (16,551) |
Total deferred income tax assets after valuation allowances | 307,508 | 265,425 |
Deferred income tax liabilities: | ||
Utility property, plant, and equipment | 666,639 | 581,387 |
Regulatory assets | 232,697 | 210,231 |
Other | 2,884 | 2,320 |
Total deferred income tax liabilities | 902,220 | 793,938 |
Net long-term deferred income tax liability | $ 594,712 | $ 528,513 |
Energy Purchase Contracts Addit
Energy Purchase Contracts Additional Information (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Minimum [Member] | |
Energy Purchase Contracts [Line Items] | |
Remaining term of purchase contract | 1 month |
Maximum [Member] | |
Energy Purchase Contracts [Line Items] | |
Remaining term of purchase contract | 25 years |
Energy Purchase Contracts (Sche
Energy Purchase Contracts (Schedule Of Utility Total Expenses) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Energy Purchase Contracts [Abstract] | |||
Utility power resources | $ 324,297 | $ 376,769 | $ 357,656 |
Energy Purchase Contracts (Futu
Energy Purchase Contracts (Future Contractual Commitments For Power Resources And Natural Gas Resources) (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Energy Purchase Contracts [Line Items] | |
2021 | $ 249,589 |
2022 | 229,944 |
2023 | 216,035 |
2024 | 192,819 |
2025 | 190,360 |
Thereafter | 1,090,589 |
Total | 2,169,336 |
Power Resources [Member] | |
Energy Purchase Contracts [Line Items] | |
2021 | 181,872 |
2022 | 177,786 |
2023 | 173,536 |
2024 | 157,221 |
2025 | 157,887 |
Thereafter | 849,444 |
Total | 1,697,746 |
Natural Gas Resources [Member] | |
Energy Purchase Contracts [Line Items] | |
2021 | 67,717 |
2022 | 52,158 |
2023 | 42,499 |
2024 | 35,598 |
2025 | 32,473 |
Thereafter | 241,145 |
Total | 471,590 |
Generation Transmission And Distribution Facilities [Member] | |
Energy Purchase Contracts [Line Items] | |
2021 | 33,885 |
2022 | 31,339 |
2023 | 32,083 |
2024 | 35,682 |
2025 | 33,706 |
Thereafter | 208,526 |
Total | $ 375,221 |
Energy Purchase Contracts (PUD
Energy Purchase Contracts (PUD Contracts Expenses) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2020USD ($) | |
P U D Contracts Expenses [Abstract] | |
Long-term contract for purchase of electric power, amount of long-term debt or lease obligation outstanding | $ 63.7 |
Committed Lines of Credit - Add
Committed Lines of Credit - Additional Information (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Apr. 30, 2014 | |
Avista Utilities [Member] | |||
Short-term Debt [Line Items] | |||
Line of credit facility, maximum borrowing capacity | $ 400,000,000 | ||
Line of credit facility, expiration date | 2022-04 | ||
Line of credit facility additional expiration period | 1 year | ||
Line of credit facility, covenant terms, maximum debt to equity ratio | 65.00% | ||
Alaska Electric Light & Power [Member] | |||
Short-term Debt [Line Items] | |||
Line of credit facility, maximum borrowing capacity | $ 25,000,000 | ||
Line of credit facility, covenant terms, maximum debt to equity ratio | 67.50% |
Committed Lines of Credit - Sch
Committed Lines of Credit - Schedule of Balances Outstanding and Interest Rates of Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Avista Utilities [Member] | ||
Short-term Debt [Line Items] | ||
Balance outstanding at end of period | $ 102,000 | $ 182,300 |
Letters of credit outstanding at end of period | $ 27,618 | $ 21,473 |
Average interest rate at end of period | 1.22% | 2.64% |
Alaska Electric Light & Power [Member] | ||
Short-term Debt [Line Items] | ||
Balance outstanding at end of period | $ 1,000 | $ 3,500 |
Average interest rate at end of period | 1.65% | 3.45% |
Credit Agreement - Additional I
Credit Agreement - Additional Information (Details) - Avista Utilities [Member] $ in Millions | 1 Months Ended |
Apr. 30, 2020USD ($) | |
Short-term Debt [Line Items] | |
Maximum borrowing capacity credit agreement | $ 100 |
Credit agreement, expiration month and year | 2021-04 |
Credit agreement, covenant interest rate | 65.00% |
Credit agreement amount borrowed | $ 100 |
Long-Term Debt - Schedule Of Lo
Long-Term Debt - Schedule Of Long-Term Debt Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Debt Instrument [Line Items] | ||
Secured Debt | $ 2,092,200 | $ 1,979,200 |
Secured and Unsecured Debt | 2,107,200 | 1,994,200 |
Unamortized debt discount | (710) | (788) |
Unamortized Debt Issuance Expense | (14,256) | (13,944) |
Total | 2,092,234 | 1,979,468 |
Current portion of long-term debt | (52,000) | |
Long-term debt | 2,008,534 | 1,843,768 |
Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Pollution Control Bonds | (83,700) | (83,700) |
2032 | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Pollution Control Bonds | 66,700 | |
2034 | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Pollution Control Bonds | 17,000 | |
Avista Utilities [Member] | ||
Debt Instrument [Line Items] | ||
Secured Debt | $ 2,017,200 | 1,904,200 |
Avista Utilities [Member] | 2020 [Member] | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2020 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.89% | |
Secured Debt | 52,000 | |
Avista Utilities [Member] | 2022 [Member] | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2022 | |
Debt Instrument, Interest Rate, Stated Percentage | 5.13% | |
Secured Debt | $ 250,000 | 250,000 |
Avista Utilities [Member] | 2023 7.18% - 7.54% | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2023 | |
Medium-Term Notes, Noncurrent | $ 13,500 | 13,500 |
Avista Utilities [Member] | 2023 7.18% - 7.54% | Minimum [Member] | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 7.18% | |
Avista Utilities [Member] | 2023 7.18% - 7.54% | Maximum [Member] | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 7.54% | |
Avista Utilities [Member] | 2028 | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2028 | |
Debt Instrument, Interest Rate, Stated Percentage | 6.37% | |
Medium-Term Notes, Noncurrent | $ 25,000 | 25,000 |
Avista Utilities [Member] | 2032 | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2032 | |
Pollution Control Bonds | $ 66,700 | 66,700 |
Avista Utilities [Member] | 2034 | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2034 | |
Pollution Control Bonds | $ 17,000 | 17,000 |
Avista Utilities [Member] | 2035 | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2035 | |
Debt Instrument, Interest Rate, Stated Percentage | 6.25% | |
Secured Debt | $ 150,000 | 150,000 |
Avista Utilities [Member] | 2037 | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2037 | |
Debt Instrument, Interest Rate, Stated Percentage | 5.70% | |
Secured Debt | $ 150,000 | 150,000 |
Avista Utilities [Member] | 2040 | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2040 | |
Debt Instrument, Interest Rate, Stated Percentage | 5.55% | |
Secured Debt | $ 35,000 | 35,000 |
Avista Utilities [Member] | 2041 | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2041 | |
Debt Instrument, Interest Rate, Stated Percentage | 4.45% | |
Secured Debt | $ 85,000 | 85,000 |
Avista Utilities [Member] | 2044 | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2044 | |
Debt Instrument, Interest Rate, Stated Percentage | 4.11% | |
Secured Debt | $ 60,000 | 60,000 |
Avista Utilities [Member] | 2045 | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2045 | |
Debt Instrument, Interest Rate, Stated Percentage | 4.37% | |
Secured Debt | $ 100,000 | 100,000 |
Avista Utilities [Member] | 2047 | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2047 | |
Debt Instrument, Interest Rate, Stated Percentage | 4.23% | |
Secured Debt | $ 80,000 | 80,000 |
Avista Utilities [Member] | 2047 3.91% | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2047 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.91% | |
Secured Debt | $ 90,000 | 90,000 |
Avista Utilities [Member] | 2048 4.35% | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2048 | |
Debt Instrument, Interest Rate, Stated Percentage | 4.35% | |
Secured Debt | $ 375,000 | 375,000 |
Avista Utilities [Member] | 2049 3.43% | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2049 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.43% | |
Secured Debt | $ 180,000 | 180,000 |
Avista Utilities [Member] | 2050 3.07% | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2050 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.07% | |
Secured Debt | $ 165,000 | |
Avista Utilities [Member] | 2051 | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2051 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.54% | |
Secured Debt | $ 175,000 | 175,000 |
Alaska Electric Light & Power [Member] | 2044 | First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2044 | |
Debt Instrument, Interest Rate, Stated Percentage | 4.54% | |
Secured Debt | $ 75,000 | 75,000 |
Alaska Energy Resources Company [Member] | 2024 | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Maturity Year | 2024 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.44% | |
Unsecured Debt | $ 15,000 | $ 15,000 |
Long-Term Debt - Schedule Of _2
Long-Term Debt - Schedule Of Long-Term Debt Instruments (Parenthetical) (Details) | 1 Months Ended | 12 Months Ended | |||
Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($)Contract | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Apr. 30, 2014USD ($) | |
Debt Instrument [Line Items] | |||||
Secured Debt | $ 2,092,200,000 | $ 1,979,200,000 | |||
Payments for (proceeds from) derivative instrument operating activities | 33,499,000 | 13,325,000 | $ 32,174,000 | ||
Avista Utilities [Member] | |||||
Debt Instrument [Line Items] | |||||
Secured Debt | 2,017,200,000 | 1,904,200,000 | |||
Line of credit facility, maximum borrowing capacity | $ 400,000,000 | ||||
2032 | Secured Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Pollution Control Bonds | 66,700,000 | ||||
2032 | Secured Debt [Member] | Avista Utilities [Member] | |||||
Debt Instrument [Line Items] | |||||
Pollution Control Bonds | $ 66,700,000 | 66,700,000 | |||
Maturity Year | 2032 | ||||
2034 | Secured Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Pollution Control Bonds | $ 17,000,000 | ||||
2034 | Secured Debt [Member] | Avista Utilities [Member] | |||||
Debt Instrument [Line Items] | |||||
Pollution Control Bonds | $ 17,000,000 | 17,000,000 | |||
Maturity Year | 2034 | ||||
2050 3.07% | Line of Credit [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of credit facility, maximum borrowing capacity | $ 400,000,000 | ||||
2050 3.07% | First Mortgage [Member] | Avista Utilities [Member] | |||||
Debt Instrument [Line Items] | |||||
Secured Debt | $ 165,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.07% | ||||
Maturity Year | 2050 | ||||
2019 | First Mortgage [Member] | Avista Utilities [Member] | |||||
Debt Instrument [Line Items] | |||||
Repayments of debt | $ 52,000,000 | ||||
2020 [Member] | First Mortgage [Member] | |||||
Debt Instrument [Line Items] | |||||
Number of interest rate swaps settled | Contract | 7 | ||||
Settled derivative notional amount | $ 70,000,000 | ||||
2020 [Member] | First Mortgage [Member] | Avista Utilities [Member] | |||||
Debt Instrument [Line Items] | |||||
Secured Debt | $ 52,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.89% | ||||
Maturity Year | 2020 |
Long-Term Debt - Schedule Of _3
Long-Term Debt - Schedule Of Long-Term Debt Maturities (Details) - Future Long Term Debt Maturities Including Long Term Debt To Affiliated Trusts [Member] $ in Thousands | Dec. 31, 2020USD ($) |
Debt Instrument [Line Items] | |
2022 | $ 250,000 |
2023 | 13,500 |
2024 | 15,000 |
Thereafter | 1,796,547 |
Total | $ 2,075,047 |
Long-Term Debt- Additional Info
Long-Term Debt- Additional Information (Details) - First Mortgage [Member] $ in Millions | Dec. 31, 2020USD ($) |
Avista Utilities [Member] | |
Debt Instrument [Line Items] | |
Amount of First Mortgage Bonds that Could be Issued, Percent | 66.66% |
Amount of First Mortgage Bonds that Could be Issued | $ 1,700 |
Alaska Electric Light & Power [Member] | |
Debt Instrument [Line Items] | |
Amount of First Mortgage Bonds that Could be Issued, Percent | 66.66% |
Amount of First Mortgage Bonds that Could be Issued | $ 36.1 |
Long- Term Debt to Affiliated_3
Long- Term Debt to Affiliated Trust - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2000 | Dec. 31, 1997 | |
Debt Instrument [Line Items] | |||
Junior subordinated debenture owed to unconsolidated subsidiary trust | $ 51.5 | $ 51.5 | |
Proceeds from the issuance of common trust securities | 1.5 | ||
Payments for repurchase of trust preferred securities | $ 10 | ||
Avista Corp [Member] | |||
Debt Instrument [Line Items] | |||
Noncontrolling interest, ownership percentage by parent | 100.00% | ||
Trust Preferred Securities Subject to Mandatory Redemption [Member] | |||
Debt Instrument [Line Items] | |||
Proceeds from (repurchase of) trust preferred securities | $ 50 | ||
Debt instrument, description of variable rate basis | LIBOR | ||
Debt instrument, basis spread on variable rate | 0.875% |
Long-Term Debt to Affiliated Tr
Long-Term Debt to Affiliated Trust - Schedule of Distribution Rates Paid (Details) - Trust Preferred Securities Subject to Mandatory Redemption [Member] | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | |||
Interest rate | 1.10% | 2.79% | 3.61% |
Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 1.10% | 2.79% | 2.36% |
Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Interest rate | 2.79% | 3.61% | 3.61% |
Fair Value - Schedule of Carryi
Fair Value - Schedule of Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Capital Lease Obligation | $ 51,750 | $ 54,550 |
Level 2 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | 963,500 | 963,500 |
Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | 1,189,824 | 1,124,649 |
Level 3 [Member] | Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | 1,060,000 | 947,000 |
Level 3 [Member] | Reported Value Measurement [Member] | Alaska Electric Light & Power [Member] | Capital Lease [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Capital Lease Obligation | 51,750 | 54,550 |
Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | 1,235,248 | 1,048,440 |
Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Alaska Electric Light & Power [Member] | Capital Lease [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Capital Lease Obligation | 58,700 | 58,000 |
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 |
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 | $ 43,815 | $ 41,238 |
Fair Value - Additional Informa
Fair Value - Additional Information (Details) $ in Thousands | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | $ 14,196 | $ 9,896 |
Fixed Income Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | $ 500 | $ 400 |
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 | 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 | 85 | |
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 | 144.9 |
Fair Value - Schedule of Fair V
Fair Value - Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Gross Asset | $ 24,702 | $ 43,222 |
Liability | 83,280 | 82,203 |
Fair Value, Recurring [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 10,222 | 10,283 |
Financial Liabilities Fair Value Disclosure | 51,435 | 30,613 |
Counterparty and Cash Collateral Netting, Assets | (23,179) | (41,442) |
Counterparty and Cash Collateral Netting, Liabilities | (31,845) | (51,590) |
Fair Value, Recurring [Member] | Fixed Income Funds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deferred compensation assets: | 2,471 | 2,232 |
Fair Value, Recurring [Member] | Equity Funds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deferred compensation assets: | 6,228 | 6,271 |
Fair Value, Recurring [Member] | Energy commodity derivatives | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Counterparty and Cash Collateral Netting, Assets | (22,152) | (40,452) |
Derivative Asset | 1,493 | 1,094 |
Counterparty and Cash Collateral Netting, Liabilities | (22,768) | (43,830) |
Derivative Liability | 262 | 1,314 |
Fair Value, Recurring [Member] | Natural Gas Exchange Agreements [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Counterparty and Cash Collateral Netting, Assets | (75) | (27) |
Counterparty and Cash Collateral Netting, Liabilities | (75) | (27) |
Derivative Liability | 8,410 | 2,976 |
Fair Value, Recurring [Member] | Foreign Exchange Contract [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Asset | 30 | 97 |
Fair Value, Recurring [Member] | Interest Rate Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Counterparty and Cash Collateral Netting, Assets | (952) | (963) |
Derivative Asset | 589 | |
Counterparty and Cash Collateral Netting, Liabilities | (9,002) | (7,733) |
Derivative Liability | 42,763 | 26,323 |
Fair Value, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 8,699 | 8,503 |
Fair Value, Recurring [Member] | Level 1 [Member] | Fixed Income Funds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deferred compensation assets: | 2,471 | 2,232 |
Fair Value, Recurring [Member] | Level 1 [Member] | Equity Funds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deferred compensation assets: | 6,228 | 6,271 |
Fair Value, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 24,627 | 43,195 |
Financial Liabilities Fair Value Disclosure | 74,795 | 79,200 |
Fair Value, Recurring [Member] | Level 2 [Member] | Energy commodity derivatives | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Gross Asset | 23,645 | 41,546 |
Liability | 23,030 | 45,144 |
Fair Value, Recurring [Member] | Level 2 [Member] | Foreign Exchange Contract [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Gross Asset | 30 | 97 |
Fair Value, Recurring [Member] | Level 2 [Member] | Interest Rate Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Gross Asset | 952 | 1,552 |
Liability | 51,765 | 34,056 |
Fair Value, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Assets, Fair Value Disclosure | 75 | 27 |
Financial Liabilities Fair Value Disclosure | 8,485 | 3,003 |
Fair Value, Recurring [Member] | Level 3 [Member] | Natural Gas Exchange Agreements [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Gross Asset | 75 | 27 |
Liability | $ 8,485 | $ 3,003 |
Fair Value - Schedule of Quanti
Fair Value - Schedule of Quantitative Information (Details) - Natural Gas Exchange Agreements [Member] $ in Thousands | 12 Months Ended | |
Dec. 31, 2020USD ($)MMBTU$ / MMBTU | Dec. 31, 2019USD ($) | |
Purchase [Member] | Minimum [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Derivative, Forward Price | 1.71 | |
Transaction/Delivery Volumes | MMBTU | 130,000 | |
Purchase [Member] | Maximum [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Derivative, Forward Price | 2.54 | |
Transaction/Delivery Volumes | MMBTU | 310,000 | |
Purchase [Member] | Weighted Average [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Derivative, Forward Price | 2.01 | |
Sales [Member] | Minimum [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Derivative, Forward Price | 1.76 | |
Transaction/Delivery Volumes | MMBTU | 75,000 | |
Sales [Member] | Maximum [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Derivative, Forward Price | 4.16 | |
Transaction/Delivery Volumes | MMBTU | 310,000 | |
Sales [Member] | Weighted Average [Member] | Internally Derived Weighted Average Cost Of Gas [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Derivative, Forward Price | 3.22 | |
Fair Value, Recurring [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Derivative Liability | $ | $ (8,410) | $ (2,976) |
Fair Value - Schedule of Activi
Fair Value - Schedule of Activity For Energy Commodity Derivative Assets (Liabilities) Measured At Fair Value Using Significant Unobservable Inputs (Level 3) (Details) - Level 3 [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fair Value Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning Balance | $ (2,976) | $ (5,262) | $ (16,409) |
Included in regulatory assets | (4,311) | 8,610 | 5,353 |
Settlements | (1,123) | (6,324) | 5,794 |
Ending Balance | (8,410) | (2,976) | (5,262) |
Natural Gas Exchange Agreements [Member] | |||
Fair Value Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning Balance | (2,976) | (2,774) | (3,164) |
Included in regulatory assets | (4,311) | 8,175 | 326 |
Settlements | (1,123) | (8,377) | 64 |
Ending Balance | $ (8,410) | (2,976) | (2,774) |
Power Exchange Agreements [Member] | |||
Fair Value Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Beginning Balance | (2,488) | (13,245) | |
Included in regulatory assets | 435 | 5,027 | |
Settlements | $ 2,053 | 5,730 | |
Ending Balance | $ (2,488) |
Common Stock - Additional Infor
Common Stock - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Class Of Stock [Line Items] | |||
Preferred stock, shares outstanding | 0 | 0 | |
Amount available for dividend distribution without affecting covenants | $ 311,800 | ||
Preferred stock, shares authorized | 10,000,000 | ||
Proceeds from issuance of common stock | $ 72,200 | $ 64,573 | $ 1,207 |
Common stock, shares authorized | 200,000,000 | 200,000,000 | |
Common Stock [Member] | |||
Class Of Stock [Line Items] | |||
Shares issued through sales agency agreements | 1,905,000 | 1,409,588 | |
Issuance of common stock through sales agency agreements, net of issuance costs | $ 70,561 | $ 63,571 | |
Sales Agency Agreement [Member] | |||
Class Of Stock [Line Items] | |||
Common stock, shares authorized | 3,200,000 | ||
Common stock shares authorized under sales agency agreements remaining shares authorized to sell | 1,300,000 | ||
Avista Utilities [Member] | |||
Class Of Stock [Line Items] | |||
Regulatory restrictions, maximum debt to equity | 35.00% |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Accumulated Other Comprehensive Loss [Abstract] | ||
Unfunded benefit obligation for pensions and other postretirement benefit plans - net of taxes of $3,822 and $2,727, respectively | $ 14,378 | $ 10,259 |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss, Net of Tax (Parenthetical) (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Accumulated Other Comprehensive Loss [Abstract] | ||
Accumulated other comprehensive income (loss), pension and other postretirement benefit plans net unamortized (gain) loss, tax | $ 3,822 | $ 2,727 |
Accumulated Other Comprehensi_5
Accumulated Other Comprehensive Loss - Reclassification out of Accumulated Other Comprehensive Income (Details) - Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] - Reclassification out of Accumulated Other Comprehensive Income [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Amortization of net prior service cost | $ (794) | $ (794) | $ (904) |
Amortization of net loss | 5,586 | 17,074 | (15,554) |
Adjustment due to effects of regulation | (10,006) | (19,309) | 18,947 |
Other comprehensive (income) loss, defined benefit plan, reclassification adjustment from AOCI, before tax | (5,214) | (3,029) | 2,489 |
Other comprehensive (income) loss, defined benefit plan, reclassification adjustment from AOCI, tax | 1,095 | 636 | (523) |
Other comprehensive (income) loss, defined benefit plan, reclassification adjustment from AOCI, after tax | $ (4,119) | $ (2,393) | $ 1,966 |
Earnings Per Common Share Att_3
Earnings Per Common Share Attributable to Avista Corporation Shareholders - Schedule of Computation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Numerator: | |||
Net income attributable to Avista Corp. shareholders | $ 129,488 | $ 196,979 | $ 136,429 |
Denominator: | |||
Weighted-average number of common shares outstanding-basic | 67,962 | 66,205 | 65,673 |
Effect of dilutive securities: | |||
Performance and restricted stock awards | 140 | 124 | 273 |
Weighted-average number of common shares outstanding-diluted | 68,102 | 66,329 | 65,946 |
Earnings per common share attributable to Avista Corp. shareholders: | |||
Basic | $ 1.91 | $ 2.98 | $ 2.08 |
Diluted | $ 1.90 | $ 2.97 | $ 2.07 |
Earnings Per Common Share Att_4
Earnings Per Common Share Attributable to Avista Corporation Shareholders - Additional Information (Details) - shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |||
Antidilutive securities excluded from computation of earnings per share, amount | 0 | 0 | 0 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) | 1 Months Ended | 12 Months Ended | |||
Aug. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Sep. 02, 2020aBuilding | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Loss Contingencies [Line Items] | |||||
Regulatory liabilities | $ 46,435,000 | $ 51,715,000 | |||
Boyds Fire [Member] | Damage from Fire [Member] | Maximum [Member] | |||||
Loss Contingencies [Line Items] | |||||
Loss contingency, damages sought, value | $ 4,400,000 | ||||
Labor Day Windstorm [Member] | Damage from Fire [Member] | |||||
Loss Contingencies [Line Items] | |||||
Wildfire covered area | a | 22,000 | ||||
Number of residential, commercial and other structures impacted | Building | 230 | ||||
Provision for Rate Refunds [Member] | |||||
Loss Contingencies [Line Items] | |||||
Regulatory liabilities | $ 8,500,000 | $ 3,600,000 | |||
Provision for Rate Refunds [Member] | Electricity [Member] | |||||
Loss Contingencies [Line Items] | |||||
Regulatory liabilities | 4,900,000 | ||||
Provision for Rate Refunds [Member] | Natural Gas [Member] | |||||
Loss Contingencies [Line Items] | |||||
Regulatory liabilities | $ 3,600,000 | ||||
Avista Utilities [Member] | |||||
Loss Contingencies [Line Items] | |||||
Percentage Of Employees, Collective Bargaining Agreement | 40.00% | ||||
Majority Of Bargaining Unit Employees, Percentage | 90.00% |
Regulatory Matters - Schedule o
Regulatory Matters - Schedule of Regulatory Assets and Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Regulated Asset Liability [Line Items] | ||
Earning a return, asset | $ 448,712 | |
Not earning a return, asset | 219,990 | |
Pending regulatory treatment, asset | 95,414 | |
Regulatory assets | 13,673 | $ 21,851 |
Non-current regulatory assets | 750,443 | 670,802 |
Earning a return, liability | 785,088 | |
Not earning a return, liability | 35,218 | |
Pending Regulatory Treatment Liability | 10,949 | |
Regulatory liabilities | 46,435 | 51,715 |
Non-current regulatory liabilities | 784,820 | 775,436 |
Natural Gas Deferrals [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, liability | 874 | |
Not earning a return, liability | 0 | |
Pending Regulatory Treatment Liability | 0 | |
Regulatory liabilities | 874 | 3,189 |
Non-current regulatory liabilities | 0 | 0 |
Power Deferrals Regulatory Liability [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, liability | 37,869 | |
Not earning a return, liability | 0 | |
Pending Regulatory Treatment Liability | 0 | |
Regulatory liabilities | 20,299 | 14,155 |
Non-current regulatory liabilities | 17,570 | 23,544 |
Removal Costs [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, liability | 325,832 | |
Not earning a return, liability | 0 | |
Pending Regulatory Treatment Liability | 0 | |
Regulatory liabilities | 0 | 0 |
Non-current regulatory liabilities | 325,832 | 312,403 |
Deferred Income Tax Charge [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, liability | 390,056 | |
Not earning a return, liability | 24,573 | |
Pending Regulatory Treatment Liability | 0 | |
Regulatory liabilities | 14,952 | 23,803 |
Non-current regulatory liabilities | 399,677 | 407,549 |
Interest Rate Swaps [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, liability | 15,046 | |
Not earning a return, liability | 0 | |
Pending Regulatory Treatment Liability | 0 | |
Regulatory liabilities | 0 | 0 |
Non-current regulatory liabilities | $ 15,046 | 17,088 |
Decoupling Surcharge [Member] | ||
Regulated Asset Liability [Line Items] | ||
Remaining amortization period, regulatory liability | 2 years | |
Earning a return, liability | $ 2,966 | |
Not earning a return, liability | 0 | |
Pending Regulatory Treatment Liability | 0 | |
Regulatory liabilities | 1,447 | 255 |
Non-current regulatory liabilities | 1,519 | 2,398 |
Other Regulatory Assets (Liabilities) [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, liability | 12,445 | |
Not earning a return, liability | 10,645 | |
Pending Regulatory Treatment Liability | 0 | |
Regulatory liabilities | 8,863 | 10,313 |
Non-current regulatory liabilities | 14,227 | 12,454 |
COVID-19 Deferrals [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, liability | 0 | |
Not earning a return, liability | 0 | |
Pending Regulatory Treatment Liability | 10,949 | |
Regulatory liabilities | 0 | 0 |
Non-current regulatory liabilities | 10,949 | 0 |
Deferred Income Tax Charge [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, asset | 108,517 | |
Not earning a return, asset | 0 | |
Pending regulatory treatment, asset | 0 | |
Regulatory assets | 0 | 0 |
Non-current regulatory assets | 108,517 | 95,752 |
Pension and Other Postretirement Benefit Plans [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, asset | 0 | |
Not earning a return, asset | 198,746 | |
Pending regulatory treatment, asset | 0 | |
Regulatory assets | 0 | 0 |
Non-current regulatory assets | 198,746 | 208,754 |
Energy commodity derivatives | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, asset | 0 | |
Not earning a return, asset | 7,795 | |
Pending regulatory treatment, asset | 0 | |
Regulatory assets | 2,073 | 6,310 |
Non-current regulatory assets | 5,722 | 264 |
Unamortized Debt Repurchase Costs [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, asset | 7,512 | |
Not earning a return, asset | 0 | |
Pending regulatory treatment, asset | 0 | |
Regulatory assets | 0 | 0 |
Non-current regulatory assets | $ 7,512 | 8,884 |
Settlement with Coeur d'Alene Tribe [Member] | ||
Regulated Asset Liability [Line Items] | ||
Remaining amortization period, regulatory assets | 39 years | |
Earning a return, asset | $ 40,043 | |
Not earning a return, asset | 0 | |
Pending regulatory treatment, asset | 0 | |
Regulatory assets | 0 | 0 |
Non-current regulatory assets | 40,043 | 41,332 |
Demand Side Management Programs [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, asset | 0 | |
Not earning a return, asset | 3,814 | |
Pending regulatory treatment, asset | 0 | |
Regulatory assets | 0 | 0 |
Non-current regulatory assets | $ 3,814 | 12,170 |
Decoupling Surcharge [Member] | ||
Regulated Asset Liability [Line Items] | ||
Remaining amortization period, regulatory assets | 2 years | |
Earning a return, asset | $ 24,246 | |
Not earning a return, asset | 0 | |
Pending regulatory treatment, asset | 0 | |
Regulatory assets | 7,123 | 12,098 |
Non-current regulatory assets | 17,123 | 14,806 |
Utility Plant to be Abandoned [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, asset | 28,916 | |
Not earning a return, asset | 0 | |
Pending regulatory treatment, asset | 0 | |
Regulatory assets | 0 | 0 |
Non-current regulatory assets | 28,916 | 31,291 |
Interest Rate Swaps [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, asset | 130,538 | |
Not earning a return, asset | 0 | |
Pending regulatory treatment, asset | 84,313 | |
Regulatory assets | 0 | 0 |
Non-current regulatory assets | 214,851 | 168,594 |
Deferred power costs [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, asset | 3,337 | |
Not earning a return, asset | 0 | |
Pending regulatory treatment, asset | 0 | |
Regulatory assets | 1,775 | 0 |
Non-current regulatory assets | 1,562 | 0 |
AFUDC Above FERC Allowed Rate [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, asset | 47,393 | |
Not earning a return, asset | 0 | |
Pending regulatory treatment, asset | 0 | |
Regulatory assets | 0 | 0 |
Non-current regulatory assets | 47,393 | 40,749 |
Other Regulatory Assets (Liabilities) [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, asset | 31,831 | |
Not earning a return, asset | 9,635 | |
Pending regulatory treatment, asset | 2,935 | |
Regulatory assets | 2,702 | 3,443 |
Non-current regulatory assets | 41,699 | 34,811 |
COVID-19 Deferrals [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, asset | 0 | |
Not earning a return, asset | 0 | |
Pending regulatory treatment, asset | 8,166 | |
Regulatory assets | 0 | 0 |
Non-current regulatory assets | 8,166 | 0 |
Advanced Meter Infrastructure [Member] | ||
Regulated Asset Liability [Line Items] | ||
Earning a return, asset | 26,379 | |
Not earning a return, asset | 0 | |
Pending regulatory treatment, asset | 0 | |
Regulatory assets | 0 | 0 |
Non-current regulatory assets | $ 26,379 | $ 13,395 |
Regulatory Matters - Schedule_2
Regulatory Matters - Schedule of Regulatory Assets and Liabilities (Parenthetical) (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
Mar. 31, 2016Meter | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | |
Regulated Asset Liability [Line Items] | |||||
Number of electric meters to be replaced | Meter | 253,000 | ||||
Federal statutory tax rate | 21.00% | 21.00% | 21.00% | 35.00% | |
Regulatory liabilities | $ 46,435 | $ 51,715 | |||
Non-plant excess deferred turnaround, amount | 8,476 | 5,690 | |||
WUTC [Member] | |||||
Regulated Asset Liability [Line Items] | |||||
Non-plant excess deferred turnaround, amount | 8,400 | ||||
IPUC [Member] | |||||
Regulated Asset Liability [Line Items] | |||||
Non-plant excess deferred turnaround, amount | 5,100 | ||||
Income Tax Related [Member] | |||||
Regulated Asset Liability [Line Items] | |||||
Regulatory liabilities | 14,952 | 23,803 | |||
Income Tax Related [Member] | WUTC [Member] | |||||
Regulated Asset Liability [Line Items] | |||||
Regulatory liabilities | $ 10,900 | ||||
Income Tax Related [Member] | IPUC [Member] | |||||
Regulated Asset Liability [Line Items] | |||||
Regulatory liabilities | $ 6,400 | ||||
Avista Utilities [Member] | |||||
Regulated Asset Liability [Line Items] | |||||
Tax cuts and jobs act period to return plant related excess deferred income taxes | 36 years | ||||
Alaska Electric Light & Power [Member] | |||||
Regulated Asset Liability [Line Items] | |||||
Tax cuts and jobs act period to return plant related excess deferred income taxes | 40 years |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Regulated Asset Liability [Line Items] | ||
Threshold limit of deadband and sharing bands for future surcharge or rebate to customer | $ 4,000,000 | |
Company share of benefit (expense) under washington energy recovery mechanism | 6,200,000 | $ 4,400,000 |
Threshold to return washington energy recovery mechanism dollars to customers | $ 30,000,000 | |
Proposed cumulative rebate refund period | 2 years | |
Deferred natural gas costs, asset | $ 1,400,000 | |
Deferred natural gas costs, liability | 3,200,000 | |
WASHINGTON | ||
Regulated Asset Liability [Line Items] | ||
Decoupling maximum rate increase request | 3.00% | |
IDAHO | Power Deferrals Regulatory Asset [Member] | ||
Regulated Asset Liability [Line Items] | ||
Regulatory assets | $ 2,500,000 | 300,000 |
Power Deferrals Regulatory Liability [Member] | WASHINGTON | ||
Regulated Asset Liability [Line Items] | ||
Regulatory liabilities | 37,900,000 | 37,000,000 |
Revenue Subject to Refund [Member] | WASHINGTON | ||
Regulated Asset Liability [Line Items] | ||
Regulatory liabilities | 0 | 0 |
Revenue Subject to Refund [Member] | IDAHO | ||
Regulated Asset Liability [Line Items] | ||
Regulatory liabilities | 686,000 | 686,000 |
Revenue Subject to Refund [Member] | OREGON | ||
Regulated Asset Liability [Line Items] | ||
Regulatory liabilities | $ 0 | $ 0 |
Regulatory Matters - Schedule_3
Regulatory Matters - Schedule of Decoupling and Earnings Sharing Mechanisms (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
WASHINGTON | Decoupling Surcharge [Member] | ||
Scheduleof Decouplingand Earnings Sharing [Line Items] | ||
Regulatory assets | $ 21,340,000 | $ 22,440,000 |
WASHINGTON | Revenue Subject to Refund [Member] | ||
Scheduleof Decouplingand Earnings Sharing [Line Items] | ||
Regulatory Liabilities | 0 | 0 |
IDAHO | Decoupling Surcharge [Member] | ||
Scheduleof Decouplingand Earnings Sharing [Line Items] | ||
Regulatory assets | 1,202,000 | 2,549,000 |
IDAHO | Revenue Subject to Refund [Member] | ||
Scheduleof Decouplingand Earnings Sharing [Line Items] | ||
Regulatory Liabilities | (686,000) | (686,000) |
OREGON | Revenue Subject to Refund [Member] | ||
Scheduleof Decouplingand Earnings Sharing [Line Items] | ||
Regulatory Liabilities | 0 | 0 |
OREGON | Decoupling Surcharge [Member] | ||
Scheduleof Decouplingand Earnings Sharing [Line Items] | ||
Regulatory Liabilities | $ (1,262,000) | $ (739,000) |
Information by Business Segme_3
Information by Business Segments - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2020Reportable_Segments | |
Segment Reporting [Abstract] | |
Number of reportable segments | 2 |
Information by Business Segme_4
Information by Business Segments - Schedule of Business Segments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Segment Reporting Information [Line Items] | |||
Operating revenues | $ 1,321,891 | $ 1,345,622 | $ 1,396,893 |
Resource costs | 398,509 | 439,817 | 494,736 |
Other operating expenses | 359,958 | 383,770 | 350,073 |
Depreciation and amortization | 224,223 | 205,994 | 183,676 |
Income (loss) from operations | 232,700 | 210,389 | 261,113 |
Interest expense | 105,061 | 104,354 | 100,936 |
Income taxes | 7,051 | 31,374 | 26,060 |
Net income (loss) from continuing operations attributable to Avista Corp. shareholders | 129,488 | 196,979 | 136,429 |
Capital expenditures | 405,674 | 443,345 | 425,241 |
Total Assets | 6,402,097 | 6,082,456 | 5,782,576 |
Avista Utilities [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 1,277,468 | 1,295,873 | 1,325,966 |
Alaska Electric Light & Power [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 42,809 | 37,265 | 43,599 |
Operating Segments [Member] | Utility Revenue [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 1,320,277 | 1,333,138 | 1,369,565 |
Resource costs | 398,509 | 439,817 | 494,736 |
Other operating expenses | 354,614 | 364,887 | 321,992 |
Depreciation and amortization | 223,507 | 205,365 | 182,877 |
Income (loss) from operations | 237,146 | 217,417 | 262,665 |
Interest expense | 104,723 | 104,251 | 100,322 |
Income taxes | 7,932 | 31,179 | 28,353 |
Net income (loss) from continuing operations attributable to Avista Corp. shareholders | 132,905 | 191,435 | 143,166 |
Capital expenditures | 404,306 | 442,510 | 424,350 |
Total Assets | 6,304,311 | 5,984,661 | 5,731,054 |
Operating Segments [Member] | Avista Utilities [Member] | Utility Revenue [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 1,277,468 | 1,295,873 | 1,325,966 |
Resource costs | 396,543 | 442,471 | 485,231 |
Other operating expenses | 341,709 | 352,170 | 309,501 |
Depreciation and amortization | 213,701 | 195,697 | 177,006 |
Income (loss) from operations | 220,058 | 200,994 | 248,000 |
Interest expense | 98,451 | 97,866 | 96,738 |
Income taxes | 4,921 | 28,363 | 25,259 |
Net income (loss) from continuing operations attributable to Avista Corp. shareholders | 124,810 | 183,977 | 134,874 |
Capital expenditures | 397,292 | 434,077 | 418,741 |
Total Assets | 6,035,340 | 5,713,268 | 5,458,104 |
Operating Segments [Member] | Alaska Electric Light & Power [Member] | Utility Revenue [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 42,809 | 37,265 | 43,599 |
Resource costs | 1,966 | (2,654) | 9,505 |
Other operating expenses | 12,905 | 12,717 | 12,491 |
Depreciation and amortization | 9,806 | 9,668 | 5,871 |
Income (loss) from operations | 17,088 | 16,423 | 14,665 |
Interest expense | 6,272 | 6,385 | 3,584 |
Income taxes | 3,011 | 2,816 | 3,094 |
Net income (loss) from continuing operations attributable to Avista Corp. shareholders | 8,095 | 7,458 | 8,292 |
Capital expenditures | 7,014 | 8,433 | 5,609 |
Total Assets | 268,971 | 271,393 | 272,950 |
Other [Member] | Non-Utility Revenue [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 1,614 | 12,484 | 27,328 |
Resource costs | 0 | 0 | 0 |
Other operating expenses | 5,344 | 18,883 | 28,081 |
Depreciation and amortization | 716 | 629 | 799 |
Income (loss) from operations | (4,446) | (7,028) | (1,552) |
Interest expense | 524 | 1,032 | 1,694 |
Income taxes | (881) | 195 | (2,293) |
Net income (loss) from continuing operations attributable to Avista Corp. shareholders | (3,417) | 5,544 | (6,737) |
Capital expenditures | 1,368 | 835 | 891 |
Total Assets | 109,658 | 113,390 | 87,050 |
Intersegment Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 0 | 0 | 0 |
Resource costs | 0 | 0 | 0 |
Other operating expenses | 0 | 0 | 0 |
Depreciation and amortization | 0 | 0 | 0 |
Income (loss) from operations | 0 | 0 | 0 |
Interest expense | (186) | (929) | (1,080) |
Income taxes | 0 | 0 | 0 |
Net income (loss) from continuing operations attributable to Avista Corp. shareholders | 0 | 0 | 0 |
Capital expenditures | 0 | 0 | 0 |
Total Assets | $ (11,872) | $ (15,595) | $ (35,528) |
Termination of Proposed Acqui_2
Termination of Proposed Acquisition by Hydro One - Additional Information (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Jan. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Business Acquisition [Line Items] | |||
Merger termination fee | $ 103,000 | ||
Merger transaction costs | $ 19,675 | $ 3,718 | |
Hydro One [Member] | |||
Business Acquisition [Line Items] | |||
Merger termination fee | $ 103,000 |
Sale of METALfx- Additional Inf
Sale of METALfx- Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Apr. 30, 2019 | |
METALfx [Member] | ||
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 | $ 3.3 |