EX-12 4 v74730ex12.txt EXHIBIT 12 1 EXHIBIT 12 AVISTA CORPORATION Computation of Ratio of Earnings to Fixed Charges and Preferred Dividend Requirements Consolidated (Thousands of Dollars)
12 Mos. Ended Years Ended December 31 June 30, -------------------------------------------------- 2001 2000 1999 1998 1997 -------- -------- -------- -------- -------- Fixed charges, as defined: Interest on long-term debt $ 85,052 $ 65,314 $ 62,032 $ 66,218 $ 63,413 Amortization of debt expense and premium - net 4,035 3,409 3,044 2,859 2,862 Interest portion of rentals 4,416 4,324 4,645 4,301 4,354 -------- -------- -------- -------- -------- Total fixed charges $ 93,503 $ 73,047 $ 69,721 $ 73,378 $ 70,629 ======== ======== ======== ======== ======== Earnings, as defined: Net income from continuing ops $154,775 $ 91,679 $ 26,031 $ 78,139 $114,797 Add (deduct): Income tax expense 105,992 73,461 16,740 43,335 61,075 Total fixed charges above 93,503 73,047 69,721 73,378 70,629 -------- -------- -------- -------- -------- Total earnings $354,270 $238,187 $112,492 $194,852 $246,501 ======== ======== ======== ======== ======== Ratio of earnings to fixed charges 3.79 3.26 1.61 2.66 3.49 Fixed charges and preferred dividend requirements: Fixed charges above $ 93,503 $ 73,047 $ 69,721 $ 73,378 $ 70,629 Preferred dividend requirements (1) 4,099 42,753 35,149 13,057 8,261 -------- -------- -------- -------- -------- Total $ 97,602 $115,800 $104,870 $ 86,435 $ 78,890 ======== ======== ======== ======== ======== Ratio of earnings to fixed charges and preferred dividend requirements 3.63 2.06 1.07 2.25 3.12
(1) Preferred dividend requirements have been grossed up to their pre-tax level