Information by Business Segments

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Information by Business Segments

NOTE 16. 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). 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 three months ended June 30, 2022:
Operating revenues	$	368,515		$	9,906		$	378,421		$	145		$	—		$	378,566
Resource costs		156,221			1,176			157,397			—			—			157,397
Other operating expenses		100,782			3,700			104,482			2,910			—			107,392
Depreciation and amortization		60,106			2,700			62,806			30			—			62,836
Income (loss) from operations		25,037			2,041			27,078			(2,795	)		—			24,283
Interest expense (2)		27,078			1,487			28,565			137			(7	)		28,695
Income taxes		(2,565	)		(211	)		(2,776	)		1,777			—			(999	)
Net income		3,950			771			4,721			6,732			—			11,453
Capital expenditures (3)		111,850			2,809			114,659			342			—			115,001
For the three months ended June 30, 2021:
Operating revenues	$	287,560		$	10,547		$	298,107		$	148		$	—		$	298,255
Resource costs		89,515			1,163			90,678			—			—			90,678
Other operating expenses		90,728			3,325			94,053			1,159			—			95,212
Depreciation and amortization		53,569			2,497			56,066			73			—			56,139
Income (loss) from operations		29,561			3,275			32,836			(1,084	)		—			31,752
Interest expense (2)		24,608			1,523			26,131			131			(25	)		26,237
Income taxes		585			468			1,053			1,345			—			2,398
Net income		7,717			1,299			9,016			5,058			—			14,074
Capital expenditures (3)		114,441			2,183			116,624			537			—			117,161
For the six months ended June 30 2022:
Operating revenues	$	817,387		$	22,960		$	840,347		$	265		$	—		$	840,612
Resource costs		342,645			1,620			344,265			—			—			344,265
Other operating expenses		191,766			7,243			199,009			3,866			—			202,875
Depreciation and amortization		119,985			5,398			125,383			62			—			125,445
Income (loss) from operations		102,816			8,099			110,915			(3,663	)		—			107,252
Interest expense (2)		53,650			2,974			56,624			265			(10	)		56,879
Income taxes		(14,925	)		1,049			(13,876	)		2,041			—			(11,835	)
Net income		71,228			4,064			75,292			7,726			—			83,018
Capital expenditures (3)		207,314			3,332			210,646			756			—			211,402
For the six months ended June 30 2021:
Operating revenues	$	687,420		$	23,368		$	710,788		$	337		$	—		$	711,125
Resource costs		223,355			1,902			225,257			—			—			225,257
Other operating expenses		175,327			6,281			181,608			2,343			—			183,951
Depreciation and amortization		106,293			4,994			111,287			200			—			111,487
Income (loss) from operations		126,254			9,599			135,853			(2,206	)		—			133,647
Interest expense (2)		49,408			3,048			52,456			260			(66	)		52,650
Income taxes		11,303			1,801			13,104			1,458			—			14,562
Net income		71,775			4,775			76,550			5,541			—			82,091
Capital expenditures (3)		210,835			2,992			213,827			565			—			214,392
Total Assets:
As of June 30, 2022:	$	6,528,546		$	269,347		$	6,797,893		$	148,097		$	(8,276	)	$	6,937,714
As of December 31, 2021:	$	6,458,244		$	265,422		$	6,723,666		$	132,158		$	(2,241	)	$	6,853,583

(1)Intersegment eliminations reported as interest expense represent intercompany interest.

(2)Including interest expense to affiliated trusts.

(3)The capital expenditures for the other businesses are included in other investing activities on the Condensed Consolidated Statements of Cash Flows.