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Common Stock | 12 Months Ended
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Dec. 31, 2019
Stockholders' Equity Note [Abstract] |
Common Stock | COMMON STOCK The payment of dividends on common stock could be limited by:
• | certain covenants applicable to preferred stock (when outstanding) contained in the Company’s Restated Articles of Incorporation, as amended (currently there are no preferred shares outstanding),
• | certain covenants applicable to the Company's outstanding long-term debt and committed line of credit agreements,
• | the hydroelectric licensing requirements of section 10(d) of the FPA (see Note 1), and
• | certain requirements under the OPUC approval of the AERC acquisition in 2014. The OPUC's AERC acquisition order requires Avista Utilities to maintain a capital structure of no less than 35 percent common equity (inclusive of short-term debt). This limitation may be revised upon request by the Company with approval from the OPUC.
The requirements of the OPUC approval of the AERC acquisition are the most restrictive. Under the OPUC restriction, the amount available for dividends at December 31, 2019 was limited to $293.9 million. See the Consolidated Statements of Equity for dividends declared in the years 2019 through 2017. The Company has 10 million authorized shares of preferred stock. The Company did not have any preferred stock outstanding as of December 31, 2019 and 2018. Equity Issuances The Company issued equity in 2019 for total net proceeds of $64.6 million. Most of these issuances came through the Company's four separate sales agency agreements under which the sales agents may offer and sell new shares of common stock from time to time. These agreements provide for the offering of a maximum of 4.6 million shares, of which approximately 3.2 million remain unissued as of December 31, 2019. In 2019, 1.4 million shares were issued under these agreements resulting in total net proceeds of $63.6 million. Subject to the satisfaction of customary conditions (including any required regulatory approvals), the Company has the right to increase the maximum number of shares that may be offered under these agreements. These agreements expire on February 29, 2020. The Company expects to negotiate and enter into new sales agency agreements in the second quarter of 2020. ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated Other Comprehensive Loss Accumulated other comprehensive loss, net of tax, consisted of the following as of December 31 (dollars in thousands):
| 2019 |  | 2018
Unfunded benefit obligation for pensions and other postretirement benefit plans - net of taxes of $2,727 and $2,091, respectively | $ | 10,259 |  |  | $ | 7,866 |
The following table details the reclassifications out of accumulated other comprehensive loss by component for the years ended December 31 (dollars in thousands):
|  | Amounts Reclassified from Accumulated Other Comprehensive Loss |  |
Details about Accumulated Other Comprehensive Loss Components |  | 2019 |  | 2018 |  | 2017 |  | Affected Line Item in Statement of Income
Amortization of defined benefit pension items |  |  |  |  |  |  |  |
Amortization of net prior service cost |  | $ | (794 | ) |  | $ | (904 | ) |  | $ | (4,381 | ) |  | (a)
Amortization of net loss |  | 17,074 |  |  | (15,554 | ) |  | 36,833 |  |  | (a)
Adjustment due to effects of regulation |  | (19,309 | ) |  | 18,947 |  |  | (33,255 | ) |  | (a)
|  | (3,029 | ) |  | 2,489 |  |  | (803 | ) |  | Total before tax
|  | 636 |  |  | (523 | ) |  | 281 |  |  | Tax benefit (expense)
|  | $ | (2,393 | ) |  | $ | 1,966 |  |  | $ | (522 | ) |  | Net of tax
(a) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 11 for additional details).

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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