XML 42 R18.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Long- Term Debt to Affiliated Trusts | 9 Months Ended
--- | ---
Sep. 30, 2022
Long Term Debt To Affiliated Trust [Abstract] |
Long- Term Debt To Affiliated Trusts | NOTE 10. LONG-TERM DEB T TO AFFILIATED TRUSTS In 1997, the Company issued Floating Rate Junior Subordinated Deferrable Interest Debentures, Series B, with a principal amount of $51.5 million to Avista Capital II, an affiliated business trust formed by the Company. Avista Capital II issued $50.0 million of Preferred Trust Securities with a floating distribution rate of LIBOR plus 0.875 percent, calculated and reset quarterly. Effective in July 2023, the reference to LIBOR in the formulation for the distribution rate on these securities will be replaced, by operation of law, with a new benchmark identified by the Federal Reserve Board that is based on SOFR including a tenor spread adjustment, as calculated and published by an administrator selected by the Federal Reserve Board. Accordingly, the distribution rate on the Preferred Trust Securities will then be that replacement benchmark (including spread) plus 0.875 percent. The distribution rates were as follows during the nine months ended September 30, 2022 and the year ended December 31, 2021:
|  | September 30, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Low distribution rate |  |  | 1.05 | % |  |  | 0.99 | %
High distribution rate |  |  | 3.96 | % |  |  | 1.10 | %
Distribution rate at the end of the period |  |  | 3.96 | % |  |  | 1.05 | %
Concurrent with the issuance of the Preferred Trust Securities, Avista Capital II issued $1.5 million of Common Trust Securities to the Company. The Preferred Trust Securities may be redeemed at the option of Avista Capital II at any time and mature on June 1, 2037. In December 2000, the Company purchased $10.0 million of these Preferred Trust Securities. The Company owns 100 percent of Avista Capital II and has solely and unconditionally guaranteed the payment of distributions on, and redemption price and liquidation amount for, the Preferred Trust Securities to the extent that Avista Capital II has funds available for such payments from the respective debt securities. Upon maturity or prior redemption of such debt securities, the Preferred Trust Securities will be mandatorily redeemed. The Company does not include these capital trusts in its consolidated financial statements as Avista Corp. is not the primary beneficiary. As such, the sole assets of the capital trusts are $51.5 million of junior subordinated deferrable interest debentures of Avista Corp., which are reflected on the Condensed Consolidated Balance Sheets. Interest expense to affiliated trusts in the Condensed Consolidated Statements of Income represents interest expense on these debentures.

X
- Definition Long-Term Debt to Affiliated Trust [Abstract] + References No definition available. + Details
Name: | ava_LongTermDebtToAffiliatedTrustAbstract
Namespace Prefix: | ava_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Long Term Debt To Affiliated Trusts Disclosure [Text Block] + References No definition available. + Details
Name: | ava_LongTermDebtToAffiliatedTrustsDisclosureTextBlock
Namespace Prefix: | ava_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration