Information by Business Segments

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Information by Business Segments

NOTE 15. 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 Executive Officer). 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
For the three months ended June 30, 2025:
Operating revenues	$	400	$	11	$	411	$	—		$	—		$	411
Resource costs		129		1		130		—			—			130
Other operating expenses		120		4		124		—			—			124
Depreciation and amortization		69		3		72		—			—			72
Interest income		3		—		3		—			—			3
Interest expense (2)		35		1		36		1			—			37
Other segment expenses (3)		24		1		25		11			—			36
Income tax expense (benefit)		3		—		3		(2	)		—			1
Net income (loss)		23		1		24		(10	)		—			14
Capital expenditures (4)		136		7		143		—			—			143
For the three months ended June 30, 2024:
Operating revenues	$	391	$	11	$	402	$	—		$	—		$	402
Resource costs		143		1		144		—			—			144
Other operating expenses		105		4		109		—			—			109
Depreciation and amortization		65		3		68		—			—			68
Interest income		4		—		4		—			(1	)		3
Interest expense (2)		35		2		37		1			(1	)		37
Other segment expenses (3)		22		—		22		1			—			23
Income tax expense		1		—		1		—			—			1
Net income (loss)		24		1		25		(2	)		—			23
Capital expenditures (4)		128		5		133		—			—			133
For the six months ended June 30, 2025:
Operating revenues	$	1,004	$	24	$	1,028	$	—		$	—		$	1,028
Resource costs		385		1		386		—			—			386
Other operating expenses		244		8		252		1			—			253
Depreciation and amortization		137		6		143		—			—			143
Interest income		6		—		6		—			(1	)		5
Interest expense (2)		72		3		75		2			(1	)		76
Other segment expenses (3)		57		—		57		12			—			69
Income tax expense (benefit)		14		2		16		(3	)		—			13
Net income (loss)		101		4		105		(12	)		—			93
Capital expenditures (4)		236		10		246		—			—			246
For the six months ended June 30, 2024:
Operating revenues	$	986	$	25	$	1,011	$	—		$	—		$	1,011
Resource costs		436		1		437		—			—			437
Other operating expenses		213		8		221		—			—			221
Depreciation and amortization		130		6		136		—			—			136
Interest income		9		—		9		—			(1	)		8
Interest expense (2)		71		3		74		1			(1	)		74
Other segment expenses (3)		53		—		53		1			—			54
Income tax expense		1		2		3		—			—			3
Net income (loss)		91		5		96		(2	)		—			94
Capital expenditures (4)		245		6		251		—			—			251
Total Assets:
As of June 30, 2025:	$	7,623	$	289	$	7,912	$	184		$	(31	)	$	8,065
As of December 31, 2024:	$	7,494	$	283	$	7,777	$	194		$	(30	)	$	7,941

(1)Intersegment eliminations reported as interest expense represent intercompany interest.

(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 Condensed Consolidated Statements of Cash Flows.