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Derivatives And Risk Management (Tables)
 3 Months Ended
Mar. 31, 2015
Derivative Instruments and Hedges, Assets [Abstract]  
Energy Commodity Derivatives
The following table presents the underlying energy commodity derivative volumes as of March 31, 2015 that are expected to be delivered in each respective year (in thousands of MWhs and mmBTUs):
 
Purchases
 
Sales
 
Electric Derivatives
 
Gas Derivatives
 
Electric Derivatives
 
Gas Derivatives
Year
Physical (1)
MWH
 
Financial (1)
MWH
 
Physical (1)
mmBTUs
 
Financial (1)
mmBTUs
 
Physical (1)
MWH
 
Financial (1)
MWH
 
Physical (1)
mmBTUs
 
Financial (1)
mmBTUs
2015
203

 
1,839

 
10,357

 
97,928

 
253

 
2,730

 
2,079

 
83,313

2016
397

 
1,287

 
2,505

 
81,730

 
287

 
1,826

 
910

 
63,000

2017
397

 
—

 
675

 
31,930

 
286

 
483

 
—

 
15,420

2018
397

 
—

 
—

 
6,795

 
286

 
—

 
—

 
—

2019
235

 
—

 
—

 
4,050

 
158

 
—

 
—

 
—

Thereafter
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(1)
Physical transactions represent commodity transactions where Avista Utilities will take delivery of either electricity or natural gas and financial transactions represent derivative instruments with no physical delivery, such as futures, swaps or options.
Foreign Currency Exchange Contracts
The following table summarizes the foreign currency hedges that the Company has entered into as of March 31, 2015 and December 31, 2014 (dollars in thousands):
 
March 31,
 
December 31,
 
2015
 
2014
Number of contracts
25

 
18

Notional amount (in United States dollars)
$
4,357

 
$
5,474

Notional amount (in Canadian dollars)
5,498

 
6,198
Interest Rate Swap Agreements
The following table summarizes the interest rate swaps that the Company has entered into as of March 31, 2015 and December 31, 2014 (dollars in thousands):
Balance Sheet Date
 
Number of Contracts
 
Notional Amount
 
Mandatory Cash Settlement Date
March 31, 2015
 
5
 
75,000

 
2015
 
 
6
 
115,000

 
2016
 
 
3
 
45,000

 
2017
 
 
11
 
245,000

 
2018
 
 
1
 
20,000

 
2019
December 31, 2014
 
5
 
75,000

 
2015
 
 
5
 
95,000

 
2016
 
 
3
 
45,000

 
2017
 
 
9
 
205,000

 
2018
Derivative Instruments Summary
The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of March 31, 2015 (in thousands):
 
 
 
 
Fair Value
Derivative
 
Balance Sheet Location
 
Gross
Asset
 
Gross
Liability
 
Collateral
Netting
 
Net Asset
(Liability)
in Balance
Sheet
Foreign currency contracts
 
Other current liabilities
 
$
14

 
$
(24
)
 
$
—

 
$
(10
)
Interest rate contracts
 
Other current liabilities
 
—

 
(12,819
)
 
677

 
(12,142
)
Interest rate contracts
 
Other non-current liabilities and deferred credits
 
—

 
(100,016
)
 
49,813

 
(50,203
)
Commodity contracts
 
Current utility energy commodity derivative assets
 
41,898

 
(40,319
)
 
—

 
1,579

Commodity contracts
 
Current utility energy commodity derivative liabilities
 
22,658

 
(40,298
)
 
3,462

 
(14,178
)
Commodity contracts
 
Other non-current liabilities and deferred credits
 
33,370

 
(57,515
)
 
3,982

 
(20,163
)
Total derivative instruments recorded on the balance sheet
 
$
97,940

 
$
(250,991
)
 
$
57,934

 
$
(95,117
)
The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of December 31, 2014 (in thousands):
 
 
 
 
Fair Value
Derivative
 
Balance Sheet Location
 
Gross
Asset
 
Gross
Liability
 
Collateral
Netting
 
Net Asset
(Liability)
in Balance Sheet
Foreign currency contracts
 
Other current liabilities
 
$
1

 
$
(21
)
 
$
—

 
$
(20
)
Interest rate contracts
 
Other current assets
 
966

 
(506
)
 
—

 
460

Interest rate contracts
 
Other current liabilities
 
—

 
(7,325
)
 
—

 
(7,325
)
Interest rate contracts
 
Other non-current liabilities and deferred credits
 
—

 
(69,737
)
 
28,880

 
(40,857
)
Commodity contracts
 
Current utility energy commodity derivative assets
 
2,063

 
(538
)
 
—

 
1,525

Commodity contracts
 
Current utility energy commodity derivative liabilities
 
66,421

 
(97,586
)
 
13,120

 
(18,045
)
Commodity contracts
 
Other non-current liabilities and deferred credits
 
29,594

 
(54,077
)
 
2,390

 
(22,093
)
Total derivative instruments recorded on the balance sheet
 
$
99,045

 
$
(229,790
)
 
$
44,390

 
$
(86,355
)
Schedule of Assets Pledged as Collateral and Related Offsets [Table Text Block]
The following table presents the Company's collateral outstanding related to its derivative instruments as of March 31, 2015 and December 31, 2014 (in thousands):
 
 
March 31, 2015
 
December 31, 2014
Energy commodity derivatives
 
 
 
 
Cash collateral posted
 
$
17,471

 
$
20,565

Letters of credit outstanding
 
7,500

 
14,500

Balance sheet offsetting (cash collateral against net derivative positions)
 
7,444

 
15,510

 
 
 
 
 
Interest rate swaps
 
 
 
 
Cash collateral posted
 
50,490

 
28,880

Letters of credit outstanding
 
17,900

 
10,900

Balance sheet offsetting (cash collateral against net derivative positions)
 
50,490

 
28,880

Certain of the Company’s derivative instruments contain provisions that require the Company to maintain an "investment grade" credit rating from the major credit rating agencies. If the Company’s credit ratings were to fall below “investment grade,” it would be in violation of these provisions, and the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing collateralization on derivative instruments in net liability positions.
The following table presents the aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a liability position and the amount of additional collateral the Company could be required to post as of March 31, 2015 and December 31, 2014 (in thousands):
 
 
March 31, 2015
 
December 31, 2014
Liabilities with credit-risk-related contingent features
 
$
6,640

 
$
12,911

Additional collateral to post
 
6,638

 
16,227