Derivatives And Risk Management (Tables)

6 Months Ended

Jun. 30, 2017

Derivative Instruments and Hedges, Assets [Abstract]

The following table presents the underlying energy commodity derivative volumes as of June 30, 2017 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
Remainder 2017	185	999	7,418	63,423	154	1,129	3,378	43,940
2018	397	307	—	78,488	254	1,244	1,360	46,805
2019	235	737	610	42,775	158	982	1,345	26,590
2020	—	—	910	3,635	—	—	1,430	—
2021	—	—	—	—	—	—	1,049	—
Thereafter	—	—	—	—	—	—	—	—

The following table presents the underlying energy commodity derivative volumes as of December 31, 2016 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
2017	510	907	15,475	110,380	316	1,552	4,165	73,110
2018	397	—	—	52,755	286	1,244	1,360	15,113
2019	235	—	610	29,475	158	982	1,345	4,020
2020	—	—	910	2,725	—	—	1,430	—
2021	—	—	—	—	—	—	1,060	—
Thereafter	—	—	—	—	—	—	—	—

Foreign Currency Exchange Contracts

The following table summarizes the foreign currency exchange derivatives that Avista Corp. has outstanding as of June 30, 2017 and December 31, 2016 (dollars in thousands):



	June 30,		December 31,
	2017		2016
Number of contracts	24		21
Notional amount (in United States dollars)	$	7,588	$	2,819
Notional amount (in Canadian dollars)	10,075		3,754

Interest Rate Swap Agreements

The following table summarizes the unsettled interest rate swap derivatives that Avista Corp. has outstanding as of June 30, 2017 and December 31, 2016 (dollars in thousands):



Balance Sheet Date	Number of Contracts	Notional Amount		Mandatory Cash Settlement Date
June 30, 2017	6	$	75,000	2017
	14	275,000		2018
	6	70,000		2019
	3	30,000		2020
	5	60,000		2022
December 31, 2016	6	$	75,000	2017
	14	275,000		2018
	6	70,000		2019
	2	20,000		2020
	5	60,000		2022

Derivative Instruments Summary

The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of June 30, 2017 (in thousands):



	Fair Value as of June 30, 2017
Derivative and Balance Sheet Location	Gross Asset		Gross Liability			Collateral Netted		Net Asset (Liability) on Balance Sheet
Foreign currency exchange derivatives
Other current assets	$	187	$	—		$	—	$	187
Interest rate swap derivatives
Other current assets	5,626		(208		)	—		5,418
Other property and investments-net and other non-current assets	5,676		(1,645		)	—		4,031
Current interest rate swap derivative liabilities	—		(78,077		)	41,570		(36,507		)
Non-current interest rate swap derivative liabilities	—		(336		)	—		(336		)
Energy commodity derivatives
Other current assets	168		(11		)	—		157
Current energy commodity derivative liabilities	22,577		(36,716		)	5,831		(8,308		)
Other non-current liabilities, regulatory liabilities and deferred credits	12,532		(27,555		)	3,936		(11,087		)
Total derivative instruments recorded on the balance sheet	$	46,766	$	(144,548	)	$	51,337	$	(46,445	)

The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of December 31, 2016 (in thousands):



	Fair Value as of December 31, 2016
Derivative and Balance Sheet Location	Gross Asset		Gross Liability			Collateral Netted		Net Asset (Liability) on Balance Sheet
Foreign currency exchange derivatives
Other current liabilities	$	5	$	(28	)	$	—	$	(23	)
Interest rate swap derivatives
Other current assets	3,393		—			—		3,393
Other property and investments-net and other non-current assets	5,754		(397		)	—		5,357
Current interest rate swap derivative liabilities	—		(15,756		)	9,731		(6,025		)
Non-current interest rate swap derivative liabilities	3,951		(57,825		)	25,169		(28,705		)
Energy commodity derivatives
Other current assets	18,682		(16,787		)	—		1,895
Current energy commodity derivative liabilities	16,335		(29,598		)	6,228		(7,035		)
Other non-current liabilities, regulatory liabilities and deferred credits	13,071		(29,990		)	3,630		(13,289		)
Total derivative instruments recorded on the balance sheet	$	61,191	$	(150,381	)	$	44,758	$	(44,432	)

Schedule of Assets Pledged as Collateral and Related Offsets [Table Text Block]

The following table presents Avista Corp.'s collateral outstanding related to its derivative instruments as of June 30, 2017 and December 31, 2016 (in thousands):



	June 30,		December 31,
	2017		2016
Energy commodity derivatives
Cash collateral posted	$	15,924	$	17,134
Letters of credit outstanding	37,250		24,400
Balance sheet offsetting (cash collateral against net derivative positions)	9,767		9,858

Interest rate swap derivatives
Cash collateral posted	41,570		34,900
Letters of credit outstanding	13,100		3,600
Balance sheet offsetting (cash collateral against net derivative positions)	41,570		34,900

Certain of Avista Corp.’s derivative instruments contain provisions that require Avista Corp. to maintain an "investment grade" credit rating from the major credit rating agencies. If Avista Corp.’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 Avista Corp. could be required to post as of June 30, 2017 and December 31, 2016 (in thousands):



	June 30,		December 31,
	2017		2016
Energy commodity derivatives
Liabilities with credit-risk-related contingent features	$	648	$	1,124
Additional collateral to post	648		1,046

Interest rate swap derivatives
Liabilities with credit-risk-related contingent features	80,266		73,978
Additional collateral to post	11,210		21,100