EX-12 2 ava-20170331xex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


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, 2017
 
2016
 
2015
 
2014
 
2013
 
2012
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Interest charges
 
$
23,700

 
$
86,897

 
$
80,613

 
$
74,025

 
$
73,772

 
$
71,843

Amortization of debt expense and premium - net
 
792

 
3,391

 
3,415

 
3,635

 
3,813

 
3,803

Interest portion of rentals
 
327

 
1,324

 
1,287

 
1,187

 
1,146

 
1,294

 
 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
$
24,819

 
$
91,612

 
$
85,315

 
$
78,847

 
$
78,731

 
$
76,940

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations
 
$
95,481

 
$
215,402

 
$
185,619

 
$
192,106

 
$
162,347

 
$
116,567

Add (deduct):
 
 
 
 
 
 
 
 
 
 
 
 
Capitalized interest
 
(724
)
 
(2,651
)
 
(3,546
)
 
(3,924
)
 
(3,676
)
 
(2,401
)
Total fixed charges above
 
24,819

 
91,612

 
85,315

 
78,847

 
78,731

 
76,940

 
 
 
 
 
 
 
 
 
 
 
 
 
Total earnings
 
$
119,576

 
$
304,363

 
$
267,388

 
$
267,029

 
$
237,402

 
$
191,106

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
4.82

 
3.32

 
3.13

 
3.39

 
3.02

 
2.48