Fair Value (Tables)

12 Months Ended

Dec. 31, 2011

Carrying Value And Estimated Fair Value Of Financial Instruments


	2011				2010
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Long-term debt	$	1,184,100	$	1,369,763	$	1,099,100	$	1,139,765
Nonrecourse long-term debt		46,471		51,974		58,934		64,795
Long-term debt to affiliated trusts		51,547		43,810		51,547		37,114

Fair Value Of Assets And Liabilities Measured On Recurring Basis


	Level 1		Level 2		Level 3		Counterparty Netting (1)			Total
December 31, 2011
Assets:
Energy commodity derivatives	$	—	$	80,571	$	5,630	$	(84,877	)	$	1,324
Foreign currency derivatives		—		32		—		—			32
Investments and funds held for clients:
Money market funds (2)		21,957		—		—		—			21,957
Securities available for sale:
U.S. government agency		—		74,893		—		—			74,893
Municipal		—		425		—		—			425
Corporate fixed income – financial		—		11,154		—		—			11,154
Corporate fixed income – industrial		—		6,518		—		—			6,518
Corporate fixed income – utility		—		2,092		—		—			2,092
Certificate of deposits		—		1,497		—		—			1,497
Funds held in trust account of Spokane Energy		1,600		—		—		—			1,600
Deferred compensation assets:
Fixed income securities (3)		2,116		—		—		—			2,116
Equity securities (3)		5,252		—		—		—			5,252

Total	$	30,925	$	177,182	$	5,630	$	(84,877	)	$	128,860

Liabilities:
Energy commodity derivatives	$	—	$	177,743	$	18,488	$	(84,877	)	$	111,354
Interest rate swaps		—		18,895		—		—			18,895

Total	$	—	$	196,638	$	18,488	$	(84,877	)	$	130,249

December 31, 2010
Assets:
Energy commodity derivatives	$	—	$	15,124	$	19,739	$	(17,010	)	$	17,853
Interest rate swaps		—		127		—		—			127
Foreign currency derivatives		—		116		—		—			116
Funds held for clients (2)		100,543		—		—		—			100,543
Funds held in trust account of Spokane Energy		1,600		—		—		—			1,600
Deferred compensation assets:
Fixed income securities (3)		1,854		—		—		—			1,854
Equity securities (3)		6,211		—		—		—			6,211

Total	$	110,208	$	15,367	$	19,739	$	(17,010	)	$	128,304

Liabilities:
Energy commodity derivatives	$	—	$	93,198	$	6,280	$	(17,010	)	$	82,468
Interest rate swaps		—		53		—		—			53

Total	$	—	$	93,251	$	6,280	$	(17,010	)	$	82,521

(1)	The Company is permitted to net derivative assets and derivative liabilities with the same counterparty when a legally enforceable master netting agreement exists.

(2)	Represents amounts held in money market funds.

(3)	These assets are trading securities and are included in other intangibles, property and investments-net on the Consolidated Balance Sheets.

Reconciliation For All Assets Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs (Level 3)


	Assets									Liabilities
	2011			2010			2009			2011			2010			2009
Balance as of January 1	$	19,739		$	57,276		$	68,047		$	(6,280	)	$	(7,806	)	$	(16,085	)
Total gains or losses (realized/unrealized):
Included in net income		—			—			—			—			—			—
Included in other comprehensive income		—			—			—			—			—			—
Included in regulatory assets/liabilities (1)		(14,084	)		(34,943	)		(7,202	)		(10,792	)		1,209			7,747
Purchases		—			—			—			—			—			—
Issuance		—			—			—			—			—			—
Settlements		(25	)		(2,594	)		(3,569	)		2,988			317			532
Transfers to other categories (2)		—			—			—			(4,404	)		—			—

Ending balance as of December 31	$	5,630		$	19,739		$	57,276		$	(18,488	)	$	(6,280	)	$	(7,806	)

(1)

The WUTC and the IPUC issued accounting orders authorizing Avista Utilities to offset commodity derivative assets or liabilities with a regulatory asset or liability. This accounting treatment is intended to defer the recognition of mark-to-market gains and losses on energy commodity transactions until the period of settlement. The orders provide for Avista Utilities to not recognize the unrealized gain or loss on utility derivative commodity instruments in the Consolidated Statements of Income. Realized gains or losses are recognized in the period of settlement, subject to approval for recovery through retail rates. Realized gains and losses, subject to regulatory approval, result in adjustments to retail rates through purchased gas cost adjustments, the ERM in Washington, the PCA mechanism in Idaho, and periodic general rates cases.

(2)	A derivative contract was reclassified from Level 2 to Level 3 during 2011 due to a particular unobservable input becoming more significant to the fair value measurement.

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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- Definition

Tabular disclosure of the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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+ Details