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Credit Agreement | 12 Months Ended
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Dec. 31, 2020
Credit Agreement [Abstract] |
Committed Lines of Credit | NOTE 14. COMMITTED LINES OF CREDIT Avista Corp. Avista Corp. has a committed line of credit with various financial institutions in the total amount of $400.0 million. During 2020, the Company amended and extended, for one additional year, the revolving line of credit agreement for a revised expiration date of April 2022, with the option to extend for an additional one year period. The committed line of credit is secured by non-transferable first mortgage bonds of the Company issued to the agent bank that would only become due and payable in the event, and then only to the extent, that the Company defaults on its obligations under the committed line of credit. The committed line of credit agreement contains customary covenants and default provisions. The credit agreement has a covenant which does not permit the ratio of “consolidated total debt” to “consolidated total capitalization” of Avista Corp. to be greater than 65 percent at any time. As of December 31, 2020, the Company was in compliance with this covenant. Balances outstanding and interest rates of borrowings (excluding letters of credit) under the Company’s revolving committed lines of credit were as follows as of December 31 (dollars in thousands):
|  | 2020 |  |  | 2019 |
Balance outstanding at end of period |  | $ | 102,000 |  |  | $ | 182,300 |
Letters of credit outstanding at end of period |  | $ | 27,618 |  |  | $ | 21,473 |
Average interest rate at end of period |  |  | 1.22 | % |  |  | 2.64 | %
As of December 31, 2020 and 2019, the borrowings outstanding under Avista Corp.'s committed line of credit were classified as short-term borrowings on the Consolidated Balance Sheets. AEL&P In December of 2019, AEL&P renewed its committed line of credit in the amount of $25.0 million with a new expiration date in November 2024. The committed line of credit is secured by non-transferable first mortgage bonds of AEL&P issued to the agent bank that would only become due and payable in the event, and then only to the extent, that AEL&P defaults on its obligations under the committed line of credit. The committed line of credit agreement contains customary covenants and default provisions. The credit agreement has a covenant which does not permit the ratio of “consolidated total debt at AEL&P” to “consolidated total capitalization at AEL&P,” including the impact of the Snettisham bonds to be greater than 67.5 percent at any time. As of December 31, 2020, AEL&P was in compliance with this covenant. Balances outstanding and interest rates of borrowings under AEL&P's revolving committed lines of credit were as follows as of December 31 (dollars in thousands):
|  | 2020 |  |  | 2019 |
Balance outstanding at end of period |  | $ | 1,000 |  |  | $ | 3,500 |
Average interest rate at end of period |  |  | 1.65 | % |  |  | 3.45 | %
NOTE 15. CREDIT AGREEMENT In April 2020, the Company entered into a Credit Agreement with various financial institutions, in the amount of $100 million with an expiration date of April 2021. Indebtedness under this agreement is unsecured. The Credit Agreement contains customary covenants and default provisions, including a covenant not to permit the ratio of "consolidated total debt" to "consolidated total capitalization" of Avista Corp. to be greater than 65 percent at any time. The Company borrowed the entire $100 million available under this agreement.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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