EX-12 7 ava-20171231xex12.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12

AVISTA CORPORATION

Computation of Ratio of Earnings to Fixed Charges
Consolidated
(Thousands of Dollars)

 
 
Years Ended December 31
 
 
2017
 
2016
 
2015
 
2014
 
2013
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
 
Interest charges
 
$
96,067

 
$
86,897

 
$
80,613

 
$
74,025

 
$
73,772

Amortization of debt expense and premium - net
 
3,167

 
3,391

 
3,415

 
3,635

 
3,813

Interest portion of rentals
 
1,160

 
1,324

 
1,287

 
1,187

 
1,146

 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
$
100,394

 
$
91,612

 
$
85,315

 
$
78,847

 
$
78,731

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations
 
$
198,690

 
$
215,402

 
$
185,619

 
$
192,106

 
$
162,347

Add (deduct):
 
 
 
 
 
 
 
 
 
 
Capitalized interest
 
(3,310
)
 
(2,651
)
 
(3,546
)
 
(3,924
)
 
(3,676
)
Total fixed charges above
 
100,394

 
91,612

 
85,315

 
78,847

 
78,731

 
 
 
 
 
 
 
 
 
 
 
Total earnings
 
$
295,774

 
$
304,363

 
$
267,388

 
$
267,029

 
$
237,402

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
2.95

 
3.32

 
3.13

 
3.39

 
3.02