XML 78 R43.htm IDEA: XBRL DOCUMENT v3.22.4

Pension Plans and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Change in Benefit Obligation and Plan Assets

The following table sets forth the pension and other postretirement benefit plan disclosures as of December 31, 2022 and 2021 and the components of net periodic benefit costs for the years ended December 31, 2022, 2021 and 2020 (dollars in thousands):

		Pension Benefits								Other Post- retirement Benefits
		2022				2021				2022				2021
Change in benefit obligation:
Benefit obligation as of beginning of year		$	799,042			$	826,915			$	167,598			$	161,233
Service cost			23,877				25,306				4,369				4,114
Interest cost			26,536				26,160				5,503				5,139
Actuarial (gain)/loss			(204,775	)			(13,997	)			(54,120	)			2,808
Plan change			3,302				—				—				—
Settlement			(60,206	)			—				—				—
Benefits paid			(30,067	)			(65,342	)			(7,715	)			(5,696	)
Benefit obligation as of end of year		$	557,709			$	799,042			$	115,635			$	167,598
Change in plan assets:
Fair value of plan assets as of beginning of year		$	750,963			$	722,024			$	59,544			$	52,173
Actual return on plan assets			(163,866	)			50,370				(10,072	)			7,371
Employer contributions			42,000				42,000				—				—
Settlement			(60,206	)			—				—				—
Benefits paid			(28,188	)			(63,431	)			—				—
Fair value of plan assets as of end of year		$	540,703			$	750,963			$	49,472			$	59,544
Funded status		$	(17,006	)		$	(48,079	)		$	(66,163	)		$	(108,054	)
Amounts recognized in the Consolidated Balance Sheets:
Other non-current assets		$	13,382			$	—			$	—			$	—
Other current liabilities			(1,934	)			(1,951	)			(706	)			(684	)
Non-current liabilities			(28,454	)			(46,128	)			(65,457	)			(107,370	)
Net amount recognized		$	(17,006	)		$	(48,079	)		$	(66,163	)		$	(108,054	)
Accumulated pension benefit obligation		$	495,654			$	685,493
Accumulated postretirement benefit obligation:
For retirees										$	61,984			$	78,347
For fully eligible employees										$	19,731			$	32,144
For other participants										$	33,920			$	57,107
Included in accumulated other comprehensive loss (income) (net of tax):
Unrecognized prior service cost (credit)		$	4,105			$	1,699			$	(1,911	)		$	(2,741	)
Unrecognized net actuarial loss			83,794				94,109				13,643				48,872
Total			87,899				95,808				11,732				46,131
Less regulatory asset			(85,198	)			(85,550	)			(12,375	)			(45,350	)
Accumulated other comprehensive loss for unfunded benefit    obligation for pensions and other postretirement benefit plans		$	2,701			$	10,258			$	(643	)		$	781

		Pension Benefits								Other Post- retirement Benefits
		2022				2021				2022				2021
Weighted-average assumptions as of December 31:
Discount rate for benefit obligation			6.10	%			3.39	%			6.10	%			3.40	%
Discount rate for annual expense			3.39	%			3.25	%			3.40	%			3.27	%
Expected long-term return on plan assets			5.80	%			5.40	%			4.70	%			4.60	%
Rate of compensation increase			4.69	%			4.66	%
Medical cost trend pre-age 65 – initial											6.25	%			6.00	%
Medical cost trend pre-age 65 – ultimate											5.00	%			5.00	%
Ultimate medical cost trend year pre-age 65										2028				2026
Medical cost trend post-age 65 – initial											6.25	%			6.00	%
Medical cost trend post-age 65 – ultimate											5.00	%			5.00	%
Ultimate medical cost trend year post-age 65										2028				2026

Components of Net Periodic Benefit Cost

		Pension Benefits												Other Post-retirement Benefits
		2022				2021				2020				2022				2021				2020
Components of net periodic benefit cost:
Service cost (1)		$	23,877			$	25,306			$	22,392			$	4,369			$	4,114			$	3,902
Interest cost			26,536				26,160				27,853				5,503				5,139				6,042
Expected return on plan assets			(43,872	)			(39,088	)			(34,886	)			(2,799	)			(2,400	)			(2,377	)
Amortization of prior service cost (credit)			257				257				257				(1,050	)			(921	)			(958	)
Net loss recognition			4,180				6,645				6,717				3,344				3,865				4,871
Settlement loss (2)			11,828				—				—				—				—				—
Net periodic benefit cost		$	22,806			$	19,280			$	22,333			$	9,367			$	9,797			$	11,480

(1)Total service costs in the table above are recorded to the same accounts as labor expense. Labor and benefits expense is recorded to various projects based on whether the work is a capital project or an operating expense. Approximately 40 percent of all labor and benefits is capitalized to utility property and 60 percent is expensed to utility other operating expenses.

(2)The settlement loss was deferred as a regulatory asset to be amortized over future periods.

Schedule of Allocation of Plan Assets

The target investment allocation percentages by asset classes are indicated in the table below:

		2022				2021
Equity securities			55	%			55	%
Debt securities			40	%			40	%
Real estate			5	%			5	%
Absolute return			0	%			0	%

Employer Matching Contributions

Employer matching contributions were as follows for the years ended December 31 (dollars in thousands):

		2022				2021				2020
Employer 401(k) matching contributions		$	13,258			$	11,671			$	11,742

Deferred Compensation Assets and Liabilities

There were deferred compensation assets included in other property and investments-net and corresponding deferred compensation liabilities included in other non-current liabilities and deferred credits on the Consolidated Balance Sheets of the following amounts as of December 31 (dollars in thousands):

		2022				2021
Deferred compensation assets and liabilities		$	7,541			$	9,513

Pension Plan And SERP [Member]

Schedule of Expected Benefit Payments

The Company expects that benefit payments under the pension plan and the SERP will total (dollars in thousands):

		2023				2024				2025				2026				2027				Total 2028- 2032
Expected benefit payments		$	41,993			$	41,759			$	42,207			$	42,517			$	43,037			$	226,781

Schedule of Allocation of Plan Assets

The following table discloses by level within the fair value hierarchy (see Note 18 for a description of the fair value hierarchy) of the pension plan’s assets measured and reported as of December 31, 2022 at fair value (dollars in thousands):

		Level 1				Level 2				Level 3				Total
Cash equivalents		$	—			$	5,110			$	—			$	5,110
Fixed income securities:
U.S. government issues			—				16,732				—				16,732
Corporate issues			—				161,180				—				161,180
International issues			—				23,108				—				23,108
Municipal issues			—				13,427				—				13,427
Mutual funds:
U.S. equity securities			154,442				—				—				154,442
International equity securities			58,933				—				—				58,933
Plan assets measured at NAV (not subject to hierarchy    disclosure)
Common/collective trusts:
Real estate			—				—				—				30,406
Partnership/closely held investments:
International equity securities			—				—				—				69,792
Real estate			—				—				—				7,573
Total		$	213,375			$	219,557			$	—			$	540,703

The following table discloses by level within the fair value hierarchy (see Note 18 for a description of the fair value hierarchy) of the pension plan’s assets measured and reported as of December 31, 2021 at fair value (dollars in thousands):

		Level 1				Level 2				Level 3				Total
Cash equivalents		$	—			$	6,259			$	—			$	6,259
Fixed income securities:
U.S. government issues			—				19,310				—				19,310
Corporate issues			—				233,496				—				233,496
International issues			—				34,270				—				34,270
Municipal issues			—				18,558				—				18,558
Mutual funds:
U.S. equity securities			236,552				—				—				236,552
International equity securities			112,873				—				—				112,873
Plan assets measured at NAV (not subject to hierarchy    disclosure)
Common/collective trusts:
Real estate			—				—				—				31,040
Partnership/closely held investments:
Absolute return			—				—				—				363
International equity securities			—				—				—				50,427
Real estate			—				—				—				7,815
Total		$	349,425			$	311,893			$	—			$	750,963

Other Postretirement Benefits [Member]

Schedule of Expected Benefit Payments

The Company expects that benefit payments under other postretirement benefit plans will total (dollars in thousands):

		2023				2024				2025				2026				2027				Total 2028- 2032
Expected benefit payments		$	7,031			$	7,234			$	7,436			$	7,585			$	7,771			$	40,959

Schedule of Allocation of Plan Assets

The following table discloses by level within the fair value hierarchy (see Note 18 for a description of the fair value hierarchy) of other postretirement plan assets measured and reported as of December 31, 2022 at fair value (dollars in thousands):

		Level 1				Level 2				Level 3				Total
Balanced index mutual fund (1)		$	49,472			$	—			$	—			$	49,472

The following table discloses by level within the fair value hierarchy (see Note 18 for a description of the fair value hierarchy) of other postretirement plan assets measured and reported as of December 31, 2021 at fair value (dollars in thousands):

		Level 1				Level 2				Level 3				Total
Balanced index mutual fund (1)		$	59,545			$	—			$	—			$	59,545

(1)The balanced index fund for 2022 and 2021 is a single mutual fund that includes a percentage of U.S. equity and fixed income securities and International equity and fixed income securities.

X

- Definition

Deferred Compensation Liabilities Included In Other Non-Current Liabilities And Deferred Credits [Table Text Block]

+ References

No definition available.

+ Details

Name:	ava_DeferredCompensationLiabilitiesIncludedInOtherNonCurrentLiabilitiesAndDeferredCreditsTableTextBlock
Namespace Prefix:	ava_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of defined contribution pension plans or defined contribution other postretirement plans, separately for pension plans and other postretirement benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

+ Details

Name:	us-gaap_DefinedContributionPlanDisclosuresTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(5)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2439-114920

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2410-114920

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2417-114920

+ Details

Name:	us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (j)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_RetirementPlanTypeAxis=us-gaap_PensionPlansDefinedBenefitMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_RetirementPlanTypeAxis=us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: