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Information by Business Segments
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Information by Business Segments

NOTE 16. INFORMATION BY BUSINESS SEGMENTS

The business segment presentation reflects the basis used by the Company's management to analyze performance and determine the allocation of resources. The Company's management evaluates performance based on income (loss) from operations before income taxes as well as net income (loss). 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, as it has separate financial reports that are reviewed in detail by the Chief Operating Decision Maker and its operations and risks are sufficiently different from Avista Utilities and the other businesses at AERC that it cannot be aggregated with any 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.

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

 

 

 

Avista

Utilities

 

 

Alaska

Electric

Light and

Power

Company

 

 

Total Utility

 

 

Other

 

 

Intersegment

Eliminations

(1)

 

 

Total

 

For the three months ended March 31, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

399,860

 

 

$

12,821

 

 

$

412,681

 

 

$

189

 

 

$

—

 

 

$

412,870

 

Resource costs

 

 

133,840

 

 

 

739

 

 

 

134,579

 

 

 

—

 

 

 

—

 

 

 

134,579

 

Other operating expenses

 

 

84,599

 

 

 

2,956

 

 

 

87,555

 

 

 

1,184

 

 

 

—

 

 

 

88,739

 

Depreciation and amortization

 

 

52,724

 

 

 

2,497

 

 

 

55,221

 

 

 

127

 

 

 

—

 

 

 

55,348

 

Income (loss) from operations

 

 

96,693

 

 

 

6,324

 

 

 

103,017

 

 

 

(1,122

)

 

 

—

 

 

 

101,895

 

Interest expense (2)

 

 

24,800

 

 

 

1,525

 

 

 

26,325

 

 

 

129

 

 

 

(41

)

 

 

26,413

 

Income taxes

 

 

10,718

 

 

 

1,333

 

 

 

12,051

 

 

 

113

 

 

 

—

 

 

 

12,164

 

Net income

 

 

64,058

 

 

 

3,476

 

 

 

67,534

 

 

 

483

 

 

 

—

 

 

 

68,017

 

Capital expenditures (3)

 

 

96,394

 

 

 

809

 

 

 

97,203

 

 

 

28

 

 

 

—

 

 

 

97,231

 

For the three months ended March 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

377,205

 

 

$

12,202

 

 

$

389,407

 

 

$

823

 

 

$

—

 

 

$

390,230

 

Resource costs

 

 

129,557

 

 

 

(10

)

 

 

129,547

 

 

 

—

 

 

 

—

 

 

 

129,547

 

Other operating expenses

 

 

91,279

 

 

 

3,217

 

 

 

94,496

 

 

 

1,360

 

 

 

—

 

 

 

95,856

 

Depreciation and amortization

 

 

48,974

 

 

 

2,447

 

 

 

51,421

 

 

 

235

 

 

 

—

 

 

 

51,656

 

Income (loss) from operations

 

 

76,534

 

 

 

6,246

 

 

 

82,780

 

 

 

(587

)

 

 

—

 

 

 

82,193

 

Interest expense (2)

 

 

24,983

 

 

 

1,589

 

 

 

26,572

 

 

 

131

 

 

 

(86

)

 

 

26,617

 

Income taxes

 

 

7,404

 

 

 

1,301

 

 

 

8,705

 

 

 

(173

)

 

 

—

 

 

 

8,532

 

Net income (loss)

 

 

45,979

 

 

 

3,395

 

 

 

49,374

 

 

 

(950

)

 

 

—

 

 

 

48,424

 

Capital expenditures (3)

 

 

94,056

 

 

 

1,470

 

 

 

95,526

 

 

 

109

 

 

 

—

 

 

 

95,635

 

Total Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of March 31, 2021:

 

$

6,031,502

 

 

$

270,554

 

 

$

6,302,056

 

 

$

110,117

 

 

$

(12,677

)

 

$

6,399,496

 

As of December 31, 2020:

 

$

6,035,340

 

 

$

268,971

 

 

$

6,304,311

 

 

$

109,658

 

 

$

(11,872

)

 

$

6,402,097

 

 

(1)

Intersegment eliminations reported as interest expense represent intercompany interest.

(2)

Including interest expense to affiliated trusts.

 

(3)

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