Information by Business Segments

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Information by Business Segments

NOTE 24. INFORMATION BY BUSINESS SEGMENTS

The business segment presentation reflects the information reviewed by the Company's Chief Operating Decision Maker (CODM, the Company's President and Chief Operating Officer, who became President and Chief Executive Officer effective January 1, 2025). Such information is the basis for the analysis of segment performance and the allocation of resources. Performance is evaluated based on net income (loss) and variances of actual performance from the Company's budget and/or forecast when making decisions. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. Avista Utilities' business is managed based on the total regulated utility operation; therefore, it is considered one segment. AEL&P is a separate reportable business segment since it has separate financial information and its operations and risks are sufficiently different from Avista Utilities and the other businesses at AERC that it cannot be aggregated with other operating segments. The Other category, which is not a reportable segment, includes other investments and operations of various subsidiaries, as well as certain other operations of Avista Capital. Decisions by the CODM are made in consultation with other members of management, as appropriate, and are subject to the general oversight and strategic direction of the Board of Directors.

The following table presents information for each of the Company’s business segments (dollars in millions):

	Reportable Segments
	Avista Utilities			Alaska Electric Light and Power Company		Total Utility			Other Non-Reportable Segment Items			Eliminations (1)			Total
2024
Operating revenues	$	1,887		$	50	$	1,937		$	1		$	—		$	1,938
Resource costs		794			4		798			—			—			798
Other operating expenses		426			17		443			1			—			444
Depreciation and amortization		263			11		274			—			—			274
Interest income		15			—		15			1			(2	)		14
Interest expense (2)		143			6		149			3			(2	)		150
Other segment expense (3)		95			1		96			7			—			103
Income tax expense (benefit)		2			3		5			(2	)		—			3
Net income (loss)		179			8		187			(7	)		—			180
Capital expenditures (4)		510			23		533			—			—			533
2023
Operating revenues	$	1,703		$	48	$	1,751		$	1		$	—		$	1,752
Resource costs		698			4		702			—			—			702
Other operating expenses		399			15		414			3			—			417
Depreciation and amortization		254			11		265			—			—			265
Interest income		15			—		15			1			(1	)		15
Interest expense (2)		137			6		143			2			(1	)		144
Other segment expense (3)		98			—		98			4			—			102
Income tax expense (benefit)		(35	)		3		(32	)		(2	)		—			(34	)
Net income (loss)		167			9		176			(5	)		—			171
Capital expenditures (4)		485			14		499			—			—			499
2022
Operating revenues	$	1,663		$	46	$	1,709		$	1		$	—		$	1,710
Resource costs		732			4		736			—			—			736
Other operating expenses		391			14		405			12			—			417
Depreciation and amortization		242			11		253			—			—			253
Interest income		3			—		3			1			—			4
Interest expense (2)		112			6		118			1			—			119
Other segment expense (3)		98			2		100			(49	)		—			51
Income tax expense (benefit)		(27	)		2		(25	)		8			—			(17	)
Net income		118			7		125			30			—			155
Capital expenditures (4)		443			9		452			1			—			453
Total Assets:
As of December 31, 2024	$	7,494		$	283	$	7,777		$	194		$	(30	)	$	7,941
As of December 31, 2023		7,263			270		7,533			191			(22	)		7,702
As of December 31, 2022		6,976			264		7,240			187			(10	)		7,417

(1)Eliminations reported as interest expense and interest income represent intercompany interest. Eliminations reported as assets represent intersegment accounts receivable.

(2)Including interest expense to affiliated trusts.

(3)Other segment items include taxes other than income tax, AFUDC equity, other miscellaneous expenses, and earnings (losses) from investments.

(4)The capital expenditures for the other businesses are included in other investing activities on the Consolidated Statements of Cash Flows.