EX-12 4 ava-20141231xex12.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AVA-2014.12.31-Ex12


Exhibit 12

AVISTA CORPORATION

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

 
 
Years Ended December 31
 
 
2014
 
2013
 
2012
 
2011
 
2010
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
 
Interest charges
 
$
74,025

 
$
73,772

 
$
71,843

 
$
69,536

 
$
71,734

Amortization of debt expense and premium - net
 
3,635

 
3,813

 
3,803

 
4,617

 
4,414

Interest portion of rentals
 
1,187

 
1,146

 
1,294

 
1,139

 
1,248

 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
$
78,847

 
$
78,731

 
$
76,940

 
$
75,292

 
$
77,396

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations
 
$
192,106

 
$
162,347

 
$
116,567

 
$
139,438

 
$
130,536

Add (deduct):
 
 
 
 
 
 
 
 
 
 
Capitalized interest
 
(3,924
)
 
(3,676
)
 
(2,401
)
 
(2,942
)
 
(298
)
Total fixed charges above
 
78,847

 
78,731

 
76,940

 
75,292

 
77,396

 
 
 
 
 
 
 
 
 
 
 
Total earnings
 
$
267,029

 
$
237,402

 
$
191,106

 
$
211,788

 
$
207,634

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
3.39

 
3.02

 
2.48

 
2.81

 
2.68