Derivatives And Risk Management (Tables)

9 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedges, Assets [Abstract]

The following table presents the underlying energy commodity derivative volumes as of September 30, 2018 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 2018	120	542	8,109	34,905	41	575	3,101	20,683
2019	204	901	5,110	87,118	123	2,403	2,245	47,488
2020	—	—	910	31,005	—	836	1,430	7,995
2021	—	—	—	4,975	—	—	1,049	2,275
2022	—	—	—	—	—	—	—	—
Thereafter	—	—	—	—	—	—	—	—

The following table presents the underlying energy commodity derivative volumes as of December 31, 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
2018	426	763	10,572	107,580	213	1,739	3,643	67,375
2019	235	737	610	61,073	94	1,420	1,345	35,438
2020	—	—	910	16,590	—	589	1,430	915
2021	—	—	—	—	—	—	1,049	—
2022	—	—	—	—	—	—	—	—
Thereafter	—	—	—	—	—	—	—	—

Foreign Currency Exchange Contracts

The following table summarizes the foreign currency exchange derivatives that Avista Corp. has outstanding as of September 30, 2018 and December 31, 2017 (dollars in thousands):



	September 30,		December 31,
	2018		2017
Number of contracts	18		18
Notional amount (in United States dollars)	$	3,255	$	2,552
Notional amount (in Canadian dollars)	4,236		3,241

Interest Rate Swap Agreements

The following table summarizes the unsettled interest rate swap derivatives that Avista Corp. has outstanding as of September 30, 2018 and December 31, 2017 (dollars in thousands):



Balance Sheet Date	Number of Contracts	Notional Amount		Mandatory Cash Settlement Date
September 30, 2018	6	$	70,000	2019
	4	40,000		2020
	1	15,000		2021
	6	70,000		2022
December 31, 2017	14	$	275,000	2018
	6	70,000		2019
	3	30,000		2020
	1	15,000		2021
	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 September 30, 2018 (in thousands):



	Fair Value
Derivative and Balance Sheet Location	Gross Asset		Gross Liability			Collateral Netted		Net Asset (Liability) on Balance Sheet
Foreign currency exchange derivatives
Other current assets	$	26	$	—		$	—	$	26
Interest rate swap derivatives
Other property and investments-net and other non-current assets	18,029		—			—		18,029
Other non-current liabilities and deferred credits	129		(4,577		)	—		(4,448		)
Energy commodity derivatives
Other current assets	904		(27		)	—		877
Other property and investments-net and other non-current assets	7		—			—		7
Other current liabilities	29,992		(50,107		)	13,262		(6,853		)
Other non-current liabilities and deferred credits	6,854		(16,416		)	6,087		(3,475		)
Total derivative instruments recorded on the balance sheet	$	55,941	$	(71,127	)	$	19,349	$	4,163

The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of December 31, 2017 (in thousands):



	Fair Value
Derivative and Balance Sheet Location	Gross Asset		Gross Liability			Collateral Netted		Net Asset (Liability) on Balance Sheet
Foreign currency exchange derivatives
Other current assets	$	32	$	(1	)	$	—	$	31
Interest rate swap derivatives
Other current assets	2,597		(270		)	—		2,327
Other property and investments-net and other non-current assets	4,880		(2,304		)	—		2,576
Other current liabilities	—		(63,399		)	28,952		(34,447		)
Other non-current liabilities and deferred credits	—		(7,540		)	6,018		(1,522		)
Energy commodity derivatives
Other current assets	1,386		(122		)	—		1,264
Other current liabilities	26,641		(52,895		)	17,406		(8,848		)
Other non-current liabilities and deferred credits	15,970		(34,936		)	10,032		(8,934		)
Total derivative instruments recorded on the balance sheet	$	51,506	$	(161,467	)	$	62,408	$	(47,553	)

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 September 30, 2018 and December 31, 2017 (in thousands):



	September 30,		December 31,
	2018		2017
Energy commodity derivatives
Cash collateral posted	$	27,277	$	39,458
Letters of credit outstanding	17,310		23,000
Balance sheet offsetting (cash collateral against net derivative positions)	19,349		27,438

Interest rate swap derivatives
Cash collateral posted	—		34,970
Letters of credit outstanding	—		5,000
Balance sheet offsetting (cash collateral against net derivative positions)	—		34,970

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 September 30, 2018 and December 31, 2017 (in thousands):



	September 30,		December 31,
	2018		2017
Energy commodity derivatives
Liabilities with credit-risk-related contingent features	$	1,425	$	1,336
Additional collateral to post	1,425		1,336

Interest rate swap derivatives
Liabilities with credit-risk-related contingent features	4,577		73,514
Additional collateral to post	4,447		18,770