Business Acquisitions (Tables)

9 Months Ended

Sep. 30, 2014

Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable [Table Text Block]

The contract acquisition price and the fair value of consideration transferred for AERC as of July 1, 2014 were as follows (in thousands):



	July 1, 2014
Contract acquisition price (using the calculated $32.46 per share common stock price)
Gross contract price	$	170,000
Acquired cash	19,704
Acquired debt (excluding capital lease obligation)	(38,832		)
Other closing adjustments	(104		)
Total adjusted contract price	$	150,768

Fair value of consideration transferred
Avista Corp. common stock (4,500,014 shares at $33.35 per share)	$	150,075
Cash	4,697
Fair value of total consideration transferred	$	154,772

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The preliminary estimated fair value of assets acquired and liabilities assumed as of July 1, 2014 were as follows (in thousands):



	July 1, 2014
Assets acquired:
Current Assets:
Cash	$	19,704
Accounts receivable - gross totals $3,928	3,851
Materials and supplies	2,017
Other current assets	999
Total current assets	26,571
Utility Property:
Utility plant in service	113,964
Utility property under long-term capital lease	71,007
Construction work in progress	3,440
Total utility property	188,411
Other Non-current Assets:
Non-utility property	6,660
Electric plant held for future use	3,711
Goodwill	50,631
Other deferred charges and non-current assets	5,368
Total other non-current assets	66,370
Total assets	$	281,352



Liabilities Assumed:
Current Liabilities:
Accounts payable	$	700
Current portion of long-term debt and capital lease obligations	3,773
Other current liabilities	2,902
Total current liabilities	7,375
Long-term debt	37,227
Capital lease obligations	68,840
Other non-current liabilities and deferred credits	13,138
Total liabilities	$	126,580

Total identifiable net assets acquired	$	154,772

Business Acquisition, Pro Forma Information [Table Text Block]

The following table summarizes the supplemental pro forma revenue, net income and earnings per share information for the three and nine months ended September 30 related to the acquisition of AERC as if the acquisition had occurred on January 1, 2013. The revenues and net income for AERC for the three months ended September 30, 2014 are actual results and the results for the first nine months of 2013 and the first six months of 2014 are pro forma results (dollars in thousands):



	Three months ended September 30,					Nine months ended September 30,
	2014			2013		2014		2013
Actual Avista Corp. revenues from continuing operations (excluding AERC)	$	292,334		$	289,477	$	1,051,492	$	1,037,464
Supplemental pro forma AERC revenues (1)	9,224			9,309		35,319		31,243
Total supplemental pro forma revenues	301,558			298,786		1,086,811		1,068,707

Actual AERC revenues included in Avista Corp. revenues (1)	9,224			—		9,224		—

Actual Avista Corp. net income from continuing operations attributable to Avista Corp. shareholders (excluding AERC)	9,982			8,450		88,712		73,882
Actual Avista Corp. net income from discontinued operations attributable to Avista Corp. shareholders	(55		)	2,963		70,585		5,529
Adjustment to Avista Corp.'s net income for acquisition costs (net of tax) (2)	401			66		838		(1,828		)
Supplemental pro forma AERC net income (1) (5)	524			199		6,151		7,634
Total supplemental pro forma net income	10,852			11,678		166,286		85,217

Actual AERC net income included in Avista Corp. net income (1)	$	524		$	—	$	524	$	—
Pro forma weighted-average common shares outstanding (thousands), basic (3)	63,934			64,494		64,413		64,433
Pro forma weighted-average common shares outstanding (thousands), diluted (3)	64,244			64,532		64,625		64,464
Pro forma earnings per common share attributable to Avista Corp. shareholders
Total pro forma earnings per common share attributable to Avista Corp. shareholders, basic	$	0.17		$	0.18	$	2.58	$	1.32
Total pro forma earnings per common share attributable to Avista Corp. shareholders, diluted (4)	$	0.17		$	0.18	$	2.57	$	1.32