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Derivatives And Risk Management (Tables)
 3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedges, Assets [Abstract]  
Energy Commodity Derivatives
The following table presents the underlying energy commodity derivative volumes as of March 31, 2018 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
Remainder 2018
246

 
816

 
13,783

 
86,103

 
162

 
1,537

 
7,683

 
58,035

2019
235

 
737

 
610

 
65,478

 
94

 
1,543

 
1,345

 
35,438

2020
—

 
—

 
910

 
23,145

 
—

 
836

 
1,430

 
1,830

2021
—

 
—

 
—

 
—

 
—

 
—

 
1,049

 
—

2022
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Thereafter
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
The following table presents the underlying energy commodity derivative volumes as of December 31, 2017 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
2018
426

 
763

 
10,572

 
107,580

 
213

 
1,739

 
3,643

 
67,375

2019
235

 
737

 
610

 
61,073

 
94

 
1,420

 
1,345

 
35,438

2020
—

 
—

 
910

 
16,590

 
—

 
589

 
1,430

 
915

2021
—

 
—

 
—

 
—

 
—

 
—

 
1,049

 
—

2022
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Thereafter
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—
Foreign Currency Exchange Contracts
The following table summarizes the foreign currency exchange derivatives that Avista Corp. has outstanding as of March 31, 2018 and December 31, 2017 (dollars in thousands):
 
March 31,
 
December 31,
 
2018
 
2017
Number of contracts
23

 
18

Notional amount (in United States dollars)
$
5,312

 
$
2,552

Notional amount (in Canadian dollars)
6,866

 
3,241
Interest Rate Swap Agreements
The following table summarizes the unsettled interest rate swap derivatives that Avista Corp. has outstanding as of March 31, 2018 and December 31, 2017 (dollars in thousands):
Balance Sheet Date
 
Number of Contracts
 
Notional Amount
 
Mandatory Cash Settlement Date
March 31, 2018
 
14
 
$
275,000

 
2018
 
 
6
 
70,000

 
2019
 
 
4
 
40,000

 
2020
 
 
1
 
15,000

 
2021
 
 
5
 
60,000

 
2022
December 31, 2017
 
14
 
$
275,000

 
2018
 
 
6
 
70,000

 
2019
 
 
3
 
30,000

 
2020
 
 
1
 
15,000

 
2021
 
 
5
 
60,000

 
2022
Derivative Instruments Summary
The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of March 31, 2018 (in thousands):
 
 
Fair Value
Derivative and Balance Sheet Location
 
Gross
Asset
 
Gross
Liability
 
Collateral
Netted
 
Net Asset
(Liability)
on Balance
Sheet
Foreign currency exchange derivatives
 
 
 
 
 
 
 
 
Other current assets
 
$
22

 
$
(6
)
 
$
—

 
$
16

Interest rate swap derivatives
 
 
 
 
 
 
 
 
Other current assets
 
3,930

 
—

 
—

 
3,930

Other property and investments-net and other non-current assets
 
9,512

 
(358
)
 
—

 
9,154

Current unsettled interest rate swap derivative liabilities
 
1,273

 
(49,052
)
 
22,693

 
(25,086
)
Other non-current liabilities, regulatory liabilities and deferred credits
 
—

 
(6,321
)
 
4,937

 
(1,384
)
Energy commodity derivatives
 
 
 
 
 
 
 
 
Other current assets
 
995

 
(34
)
 
—

 
961

Current energy commodity derivative liabilities
 
39,944

 
(61,978
)
 
12,274

 
(9,760
)
Other non-current liabilities, regulatory liabilities and deferred credits
 
19,133

 
(28,226
)
 
4,322

 
(4,771
)
Total derivative instruments recorded on the balance sheet
 
$
74,809

 
$
(145,975
)
 
$
44,226

 
$
(26,940
)
The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of December 31, 2017 (in thousands):
 
 
Fair Value
Derivative and Balance Sheet Location
 
Gross
Asset
 
Gross
Liability
 
Collateral
Netted
 
Net Asset
(Liability)
on Balance
Sheet
Foreign currency exchange derivatives
 
 
 
 
 
 
 
 
Other current assets
 
$
32

 
$
(1
)
 
$
—

 
$
31

Interest rate swap derivatives
 
 
 
 
 
 
 
 
Other current assets
 
2,597

 
(270
)
 
—

 
2,327

Other property and investments-net and other non-current assets
 
4,880

 
(2,304
)
 
—

 
2,576

Current unsettled interest rate swap derivative liabilities
 
—

 
(63,399
)
 
28,952

 
(34,447
)
Other non-current liabilities, regulatory liabilities and deferred credits
 
—

 
(7,540
)
 
6,018

 
(1,522
)
Energy commodity derivatives
 
 
 
 
 
 
 
 
Other current assets
 
1,386

 
(122
)
 
—

 
1,264

Current energy commodity derivative liabilities
 
26,641

 
(52,895
)
 
17,406

 
(8,848
)
Other non-current liabilities, regulatory liabilities and deferred credits
 
15,970

 
(34,936
)
 
10,032

 
(8,934
)
Total derivative instruments recorded on the balance sheet
 
$
51,506

 
$
(161,467
)
 
$
62,408

 
$
(47,553
)
Schedule of Assets Pledged as Collateral and Related Offsets [Table Text Block]
The following table presents Avista Corp.'s collateral outstanding related to its derivative instruments as of March 31, 2018 and December 31, 2017 (in thousands):
 
March 31,
 
December 31,
 
2018
 
2017
Energy commodity derivatives
 
 
 
Cash collateral posted
$
28,415

 
$
39,458

Letters of credit outstanding
28,500

 
23,000

Balance sheet offsetting (cash collateral against net derivative positions)
16,596

 
27,438

 
 
 
 
Interest rate swap derivatives
 
 
 
Cash collateral posted
27,630

 
34,970

Letters of credit outstanding
3,000

 
5,000

Balance sheet offsetting (cash collateral against net derivative positions)
27,630

 
34,970

Certain of Avista Corp.’s derivative instruments contain provisions that require Avista Corp. 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 March 31, 2018 and December 31, 2017 (in thousands):
 
March 31,
 
December 31,
 
2018
 
2017
Energy commodity derivatives
 
 
 
Liabilities with credit-risk-related contingent features
$
1,376

 
$
1,336

Additional collateral to post
1,376

 
1,336

 
 
 
 
Interest rate swap derivatives
 
 
 
Liabilities with credit-risk-related contingent features
55,731

 
73,514

Additional collateral to post
8,600

 
18,770