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Selected Quarterly Financial Data
12 Months Ended
Dec. 31, 2011
Selected Quarterly Financial Data [Abstract]  
Selected Quarterly Financial Data

NOTE 25. SELECTED QUARTERLY FINANCIAL DATA (Unaudited)

The Company's energy operations are significantly affected by weather conditions. Consequently, there can be large variances in revenues, expenses and net income between quarters based on seasonal factors such as, but not limited to, temperatures and streamflow conditions. A summary of quarterly operations (in thousands, except per share amounts) for 2011 and 2010 follows:

 

     Three Months Ended  
     March 31     June 30     September 30     December 31  

2011

        

Operating revenues

   $ 476,586      $ 360,557      $ 343,710      $ 438,927   

Operating expenses

     391,761        305,033        308,832        378,532   
  

 

 

   

 

 

   

 

 

   

 

 

 

Income from operations

   $ 84,825      $ 55,524      $ 34,878      $ 60,395   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 42,403      $ 23,528      $ 11,637      $ 25,971   

Less: Net income attributable to noncontrolling interests

     (485     (527     (935     (1,368
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income attributable to Avista Corporation

   $ 41,918      $ 23,001      $ 10,702      $ 24,603   
  

 

 

   

 

 

   

 

 

   

 

 

 

Outstanding common stock:

        

Weighted average, basic

     57,342        57,787        58,057        58,304   

Weighted average, diluted

     57,414        58,143        58,232        58,583   

Earnings per common share attributable to Avista Corporation, diluted

   $ 0.73      $ 0.39      $ 0.18      $ 0.42   

2010

        

Operating revenues

   $ 456,415      $ 360,733      $ 367,172      $ 374,420   

Operating expenses

     388,591        298,984        329,428        311,549   
  

 

 

   

 

 

   

 

 

   

 

 

 

Income from operations

   $ 67,824      $ 61,749      $ 37,744      $ 62,871   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 29,317      $ 26,047      $ 13,334      $ 26,250   

Less: Net income attributable to noncontrolling interests

     (507     (507     (988     (521
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income attributable to Avista Corporation

   $ 28,810      $ 25,540      $ 12,346      $ 25,729   
  

 

 

   

 

 

   

 

 

   

 

 

 

Outstanding common stock:

        

Weighted average, basic

     54,869        55,031        55,616        56,835   

Weighted average, diluted

     55,115        55,231        55,801        57,126   

Earnings per common share attributable to Avista Corporation, diluted

   $ 0.52      $ 0.46      $ 0.22      $ 0.45