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Committed Lines of Credit | 12 Months Ended
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Dec. 31, 2021
Short-term Debt [Abstract] |
Committed Lines of Credit | NOTE 14. COMMITTE D 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. In June 2021, the Company entered into an amendment to its committed line of credit that extends the expiration date to June 2026, with the option to extend for an additional one year period (subject to customary conditions). 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, 2021, 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):
|  | 2021 |  |  | 2020 |
Balance outstanding at end of period |  | $ | 284,000 |  |  | $ | 102,000 |
Letters of credit outstanding at end of period |  | $ | 34,000 |  |  | $ | 27,618 |
Average interest rate at end of period |  |  | 1.11 | % |  |  | 1.22 | %
As of December 31, 2021 and 2020, the borrowings outstanding under Avista Corp.'s committed line of credit were classified as short-term borrowings on the Consolidated Balance Sheets. AEL&P AEL&P has a committed line of credit in the amount of $25.0 million that expires 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, 2021, AEL&P was in compliance with this covenant. As of December 31, 2021, there were no borrowings under the AEL&P committed line of credit. As of December 31, 2020, there was $1.0 million outstanding with an average interest rate of 1.65 percent.

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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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