EX-12 2 v67116ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12 AVISTA CORPORATION Computation of Ratio of Earnings to Fixed Charges and Preferred Dividend Requirements Consolidated (Thousands of Dollars)
12 Mos. Ended September 30, Years Ended December 31 -------------------------------------------------------- 2000 1999 1998 1997 1996 -------- -------- -------- -------- -------- Fixed charges, as defined: Interest on long-term debt $ 64,155 $ 62,032 $ 66,218 $ 63,413 $ 60,256 Amortization of debt expense and premium - net 3,102 3,044 2,859 2,862 2,998 Interest portion of rentals 4,436 4,645 4,301 4,354 4,311 -------- -------- -------- -------- -------- Total fixed charges $ 71,693 $ 69,721 $ 73,378 $ 70,629 $ 67,565 ======== ======== ======== ======== ======== Earnings, as defined: Net income $ (5,907) $ 26,031 $ 78,139 $114,797 $ 83,453 Add (deduct): Income tax expense 9,697 16,740 43,335 61,075 49,509 Total fixed charges above 71,693 69,721 73,378 70,629 67,565 -------- -------- -------- -------- -------- Total earnings $ 75,483 $112,492 $194,852 $246,501 $200,527 ======== ======== ======== ======== ======== Ratio of earnings to fixed charges 1.05 1.61 2.66 3.49 2.97