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Information by Business Segments | 9 Months Ended
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Sep. 30, 2024
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 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 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 September 30, 2024: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 383,746 |  |  | $ | 9,819 |  |  | $ | 393,565 |  |  | $ | 177 |  |  | $ | — |  |  | $ | 393,742 |
Resource costs |  |  | 140,669 |  |  |  | 1,364 |  |  |  | 142,033 |  |  |  | — |  |  |  | — |  |  |  | 142,033 |
Other operating expenses |  |  | 103,106 |  |  |  | 4,192 |  |  |  | 107,298 |  |  |  | 316 |  |  |  | — |  |  |  | 107,614 |
Depreciation and amortization |  |  | 65,024 |  |  |  | 2,862 |  |  |  | 67,886 |  |  |  | 3 |  |  |  | — |  |  |  | 67,889 |
Income (loss) from operations |  |  | 47,738 |  |  |  | 1,172 |  |  |  | 48,910 |  |  |  | (142 | ) |  |  | — |  |  |  | 48,768 |
Interest expense (2) |  |  | 35,762 |  |  |  | 1,433 |  |  |  | 37,195 |  |  |  | 674 |  |  |  | (543 | ) |  |  | 37,326 |
Income tax benefit |  |  | (39 | ) |  |  | (62 | ) |  |  | (101 | ) |  |  | (377 | ) |  |  | — |  |  |  | (478 | )
Net income (loss) |  |  | 19,803 |  |  |  | 41 |  |  |  | 19,844 |  |  |  | (1,357 | ) |  |  | — |  |  |  | 18,487 |
Capital expenditures (3) |  |  | 143,938 |  |  |  | 10,283 |  |  |  | 154,221 |  |  |  | — |  |  |  | — |  |  |  | 154,221 |
For the three months ended September 30, 2023: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 369,673 |  |  | $ | 9,851 |  |  | $ | 379,524 |  |  | $ | 102 |  |  | $ | — |  |  | $ | 379,626 |
Resource costs |  |  | 146,793 |  |  |  | 1,489 |  |  |  | 148,282 |  |  |  | — |  |  |  | — |  |  |  | 148,282 |
Other operating expenses |  |  | 98,609 |  |  |  | 3,860 |  |  |  | 102,469 |  |  |  | 603 |  |  |  | — |  |  |  | 103,072 |
Depreciation and amortization |  |  | 64,125 |  |  |  | 2,735 |  |  |  | 66,860 |  |  |  | 45 |  |  |  | — |  |  |  | 66,905 |
Income (loss) from operations |  |  | 37,081 |  |  |  | 1,552 |  |  |  | 38,633 |  |  |  | (546 | ) |  |  | — |  |  |  | 38,087 |
Interest expense (2) |  |  | 33,896 |  |  |  | 1,456 |  |  |  | 35,352 |  |  |  | 538 |  |  |  | (406 | ) |  |  | 35,484 |
Income tax expense (benefit) |  |  | (3,845 | ) |  |  | 36 |  |  |  | (3,809 | ) |  |  | 23 |  |  |  | — |  |  |  | (3,786 | )
Net income |  |  | 13,498 |  |  |  | 288 |  |  |  | 13,786 |  |  |  | 930 |  |  |  | — |  |  |  | 14,716 |
Capital expenditures (3) |  |  | 127,666 |  |  |  | 4,865 |  |  |  | 132,531 |  |  |  | — |  |  |  | — |  |  |  | 132,531 |
For the nine months ended September 30, 2024: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 1,369,496 |  |  | $ | 35,495 |  |  | $ | 1,404,991 |  |  | $ | 239 |  |  | $ | — |  |  | $ | 1,405,230 |
Resource costs |  |  | 576,302 |  |  |  | 3,174 |  |  |  | 579,476 |  |  |  | — |  |  |  | — |  |  |  | 579,476 |
Other operating expenses |  |  | 315,953 |  |  |  | 12,185 |  |  |  | 328,138 |  |  |  | 990 |  |  |  | — |  |  |  | 329,128 |
Depreciation and amortization |  |  | 195,082 |  |  |  | 8,560 |  |  |  | 203,642 |  |  |  | 8 |  |  |  | — |  |  |  | 203,650 |
Income (loss) from operations |  |  | 194,127 |  |  |  | 10,772 |  |  |  | 204,899 |  |  |  | (759 | ) |  |  | — |  |  |  | 204,140 |
Interest expense (2) |  |  | 106,828 |  |  |  | 4,248 |  |  |  | 111,076 |  |  |  | 1,886 |  |  |  | (1,495 | ) |  |  | 111,467 |
Income tax expense (benefit) |  |  | 1,475 |  |  |  | 1,799 |  |  |  | 3,274 |  |  |  | (951 | ) |  |  | — |  |  |  | 2,323 |
Net income (loss) |  |  | 111,246 |  |  |  | 5,061 |  |  |  | 116,307 |  |  |  | (3,467 | ) |  |  | — |  |  |  | 112,840 |
Capital expenditures (3) |  |  | 389,098 |  |  |  | 16,330 |  |  |  | 405,428 |  |  |  | — |  |  |  | — |  |  |  | 405,428 |
For the nine months ended September 30, 2023: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 1,198,419 |  |  | $ | 35,408 |  |  | $ | 1,233,827 |  |  | $ | 367 |  |  | $ | — |  |  | $ | 1,234,194 |
Resource costs |  |  | 478,947 |  |  |  | 3,507 |  |  |  | 482,454 |  |  |  | — |  |  |  | — |  |  |  | 482,454 |
Other operating expenses |  |  | 299,274 |  |  |  | 11,244 |  |  |  | 310,518 |  |  |  | 2,363 |  |  |  | — |  |  |  | 312,881 |
Depreciation and amortization |  |  | 190,008 |  |  |  | 8,188 |  |  |  | 198,196 |  |  |  | 76 |  |  |  | — |  |  |  | 198,272 |
Income (loss) from operations |  |  | 148,897 |  |  |  | 11,671 |  |  |  | 160,568 |  |  |  | (2,072 | ) |  |  | — |  |  |  | 158,496 |
Interest expense (2) |  |  | 102,014 |  |  |  | 4,360 |  |  |  | 106,374 |  |  |  | 1,333 |  |  |  | (942 | ) |  |  | 106,765 |
Income tax expense (benefit) |  |  | (17,349 | ) |  |  | 2,048 |  |  |  | (15,301 | ) |  |  | (923 | ) |  |  | — |  |  |  | (16,224 | )
Net income (loss) |  |  | 83,935 |  |  |  | 5,689 |  |  |  | 89,624 |  |  |  | (2,579 | ) |  |  | — |  |  |  | 87,045 |
Capital expenditures (3) |  |  | 347,264 |  |  |  | 12,013 |  |  |  | 359,277 |  |  |  | — |  |  |  | — |  |  |  | 359,277 |
Total Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of September 30, 2024: |  | $ | 7,336,820 |  |  | $ | 275,967 |  |  | $ | 7,612,787 |  |  | $ | 194,801 |  |  | $ | (26,705 | ) |  | $ | 7,780,883 |
As of December 31, 2023: |  | $ | 7,262,704 |  |  | $ | 269,683 |  |  | $ | 7,532,387 |  |  | $ | 191,665 |  |  | $ | (21,575 | ) |  | $ | 7,702,477 |
(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.

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