XML 56 R31.htm IDEA: XBRL DOCUMENT
v3.20.2

Derivatives and Risk Management (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Derivative Instruments And Hedges [Abstract] |
Schedule of Energy Commodity Derivative Volumes | The following table presents the underlying energy commodity derivative volumes as of September 30, 2020 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 2020 |  |  | — |  |  |  | 262 |  |  |  | 8,502 |  |  |  | 32,730 |  |  |  | 38 |  |  |  | 409 |  |  |  | 2,138 |  |  |  | 12,650 |
2021 |  |  | — |  |  |  | 123 |  |  |  | 6,380 |  |  |  | 54,455 |  |  |  | — |  |  |  | 307 |  |  |  | 2,840 |  |  |  | 34,710 |
2022 |  |  | — |  |  |  | — |  |  |  | 450 |  |  |  | 17,080 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,020 |
2023 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,700 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
As of September 30, 2020, there are no expected deliveries of energy commodity derivatives after 2023. The following table presents the underlying energy commodity derivative volumes as of December 31, 2019 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 |
2020 |  |  | 2 |  |  |  | 442 |  |  |  | 9,813 |  |  |  | 78,803 |  |  |  | 133 |  |  |  | 1,724 |  |  |  | 2,984 |  |  |  | 37,848 |
2021 |  |  | — |  |  |  | — |  |  |  | 153 |  |  |  | 25,523 |  |  |  | — |  |  |  | 246 |  |  |  | 1,040 |  |  |  | 13,108 |
2022 |  |  | — |  |  |  | — |  |  |  | 225 |  |  |  | 4,725 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 675 |
As of December 31, 2019, there are no expected deliveries of energy commodity derivatives after 2022.
(1) | Physical transactions represent commodity transactions in which Avista Corp. will take or make delivery of either electricity or natural gas; financial transactions represent derivative instruments with delivery of cash in the amount of the benefit or cost but with no physical delivery of the commodity, such as futures, swap derivatives, options, or forward contracts.
Summary of Foreign Currency Exchange Derivatives | The following table summarizes the foreign currency exchange derivatives that Avista Corp. has outstanding as of September 30, 2020 and December 31, 2019 (dollars in thousands):
|  | September 30, 2020 |  |  | December 31, 2019 |
Number of contracts |  |  | 24 |  |  |  | 20 |
Notional amount (in United States dollars) |  | $ | 5,887 |  |  | $ | 5,932 |
Notional amount (in Canadian dollars) |  |  | 7,777 |  |  |  | 7,828 |
Summary of Unsettled Interest Rate Swap Derivatives | The following table summarizes the unsettled interest rate swap derivatives that Avista Corp. has outstanding as of September 30, 2020 and December 31, 2019 (dollars in thousands):
Balance Sheet Date |  | Number of Contracts |  |  | Notional Amount |  |  | Mandatory Cash Settlement Date
September 30, 2020 |  |  | 4 |  |  |  | 45,000 |  |  | 2021
|  |  | 11 |  |  |  | 120,000 |  |  | 2022
|  |  | 1 |  |  |  | 10,000 |  |  | 2023
December 31, 2019 |  |  | 7 |  |  |  | 70,000 |  |  | 2020
|  |  | 3 |  |  |  | 35,000 |  |  | 2021
|  |  | 10 |  |  |  | 110,000 |  |  | 2022
Schedules of Fair Values and Locations of Derivative Instruments | The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of September 30, 2020 (in thousands):
|  | Fair Value |
Derivative and Balance Sheet Location |  | Gross Asset |  |  | Gross Liability |  |  | Collateral Netted (1) |  |  | Net Asset (Liability) on Balance Sheet |
Foreign currency exchange derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other current liabilities |  | $ | 7 |  |  | $ | (52 | ) |  | $ | — |  |  | $ | (45 | )
Interest rate swap derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current liabilities and deferred credits |  |  | — |  |  |  | (66,598 | ) |  |  | 10,100 |  |  |  | (56,498 | )
Energy commodity derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other current assets |  |  | 27,305 |  |  |  | (22,188 | ) |  |  | (4,551 | ) |  |  | 566 |
Other property and investments-net and other non-current assets |  |  | 8,221 |  |  |  | (3,976 | ) |  |  | (1,072 | ) |  |  | 3,173 |
Other current liabilities |  |  | 136 |  |  |  | (4,534 | ) |  |  | — |  |  |  | (4,398 | )
Total derivative instruments recorded on the balance sheet |  | $ | 35,669 |  |  | $ | (97,348 | ) |  | $ | 4,477 |  |  | $ | (57,202 | )
| (1) | Positive amounts represent cash collateral posted by the Company with other counterparties and negative amounts represent an obligation to return cash to the Company’s counterparties under master netting and collateral agreements.
The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of December 31, 2019 (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 |  | $ | 97 |  |  | $ | — |  |  | $ | — |  |  | $ | 97 |
Interest rate swap derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other current assets |  |  | 589 |  |  |  | — |  |  |  | — |  |  |  | 589 |
Other current liabilities |  |  | 238 |  |  |  | (9,379 | ) |  |  | 1,316 |  |  |  | (7,825 | )
Other non-current liabilities and deferred credits |  |  | 725 |  |  |  | (24,677 | ) |  |  | 5,454 |  |  |  | (18,498 | )
Energy commodity derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other current assets |  |  | 416 |  |  |  | (245 | ) |  |  | — |  |  |  | 171 |
Other property and investments-net and other non-current assets |  |  | 6,369 |  |  |  | (5,446 | ) |  |  | — |  |  |  | 923 |
Other current liabilities |  |  | 34,760 |  |  |  | (41,241 | ) |  |  | 3,378 |  |  |  | (3,103 | )
Other non-current liabilities and deferred credits |  |  | 28 |  |  |  | (1,215 | ) |  |  | — |  |  |  | (1,187 | )
Total derivative instruments recorded on the balance sheet |  | $ | 43,222 |  |  | $ | (82,203 | ) |  | $ | 10,148 |  |  | $ | (28,833 | )
Schedule of Collateral Outstanding Related to Derivative Instruments | The following table presents Avista Corp.'s collateral outstanding related to its derivative instruments as of September 30, 2020 and December 31, 2019 (in thousands):
|  | September 30, |  |  | December 31, |
|  | 2020 |  |  | 2019 |
Energy commodity derivatives |  |  |  |  |  |  |  |
Cash collateral posted |  | $ | — |  |  | $ | 7,812 |
Letters of credit outstanding |  |  | 21,500 |  |  |  | 17,400 |
Balance sheet offsetting |  |  | (5,623 | ) |  |  | 3,378 |
Interest rate swap derivatives |  |  |  |  |  |  |  |
Cash collateral posted |  |  | 10,100 |  |  |  | 6,770 |
Balance sheet offsetting |  |  | 10,100 |  |  |  | 6,770 |
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, 2020 and December 31, 2019 (in thousands):
|  | September 30, |  |  | December 31, |
|  | 2020 |  |  | 2019 |
Energy commodity derivatives |  |  |  |  |  |  |  |
Liabilities with credit-risk-related contingent features |  | $ | 3 |  |  | $ | 814 |
Additional collateral to post |  |  | 3 |  |  |  | 814 |
Interest rate swap derivatives |  |  |  |  |  |  |  |
Liabilities with credit-risk-related contingent features |  |  | 66,598 |  |  |  | 34,056 |
Additional collateral to post |  |  | 56,498 |  |  |  | 26,912 |

X
- Definition Schedule of Assets Pledged as Collateral and Related Offsets [Table Text Block] + References No definition available. + Details
Name: | ava_ScheduleofAssetsPledgedasCollateralandRelatedOffsetsTableTextBlock
Namespace Prefix: | ava_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfForeignExchangeContractsStatementOfFinancialPositionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration