EX-12 2 ava-20130331xex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AVA-2013.03.31-Ex12


Exhibit 12

AVISTA CORPORATION

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

 
 
Three months ended
 
Years Ended December 31
 
 
March 31, 2013
 
2012
 
2011
 
2010
 
2009
 
2008
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Interest charges
 
$
18,863

 
$
73,633

 
$
69,591

 
$
72,010

 
$
61,361

 
$
74,914

Amortization of debt expense and premium - net
 
947

 
3,803

 
4,617

 
4,414

 
5,673

 
4,673

Interest portion of rentals
 
613

 
2,717

 
2,154

 
2,027

 
1,874

 
1,601

 
 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
$
20,423

 
$
80,153

 
$
76,362

 
$
78,451

 
$
68,908

 
$
81,188

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations
 
$
68,337

 
$
120,061

 
$
160,171

 
$
146,105

 
$
134,971

 
$
120,382

Add (deduct):
 
 
 
 
 
 
 
 
 
 
 
 
Capitalized interest
 
(940
)
 
(2,401
)
 
(2,942
)
 
(298
)
 
(545
)
 
(4,612
)
Total fixed charges above
 
20,423

 
80,153

 
76,362

 
78,451

 
68,908

 
81,188

 
 
 
 
 
 
 
 
 
 
 
 
 
Total earnings
 
$
87,820

 
$
197,813

 
$
233,591

 
$
224,258

 
$
203,334

 
$
196,958

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
4.30

 
2.47

 
3.06

 
2.86

 
2.95

 
2.43