EX-12 4 ava-20121231xex12.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AVA-2012.12.31-Ex12


Exhibit 12

AVISTA CORPORATION

Computation of Ratio of Earnings to Fixed Charges
Consolidated
(Thousands of Dollars)

 
 
Years Ended December 31
 
 
2012
 
2011
 
2010
 
2009
 
2008
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
 
Interest charges
 
$
73,633

 
$
69,591

 
$
72,010

 
$
61,361

 
$
74,914

Amortization of debt expense and premium - net
 
3,803

 
4,617

 
4,414

 
5,673

 
4,673

Interest portion of rentals
 
2,717

 
2,154

 
2,027

 
1,874

 
1,601

 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
$
80,153

 
$
76,362

 
$
78,451

 
$
68,908

 
$
81,188

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations
 
$
120,061

 
$
160,171

 
$
146,105

 
$
134,971

 
$
120,382

Add (deduct):
 
 
 
 
 
 
 
 
 
 
Capitalized interest
 
(2,401
)
 
(2,942
)
 
(298
)
 
(545
)
 
(4,612
)
Total fixed charges above
 
80,153

 
76,362

 
78,451

 
68,908

 
81,188

 
 
 
 
 
 
 
 
 
 
 
Total earnings
 
$
197,813

 
$
233,591

 
$
224,258

 
$
203,334

 
$
196,958

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
2.47

 
3.06

 
2.86

 
2.95

 
2.43