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Information by Business Segments
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Information by Business Segments

NOTE 15. INFORMATION BY BUSINESS SEGMENTS

The business segment presentation reflects the information reviewed by the Company's Chief Operating Decision Maker (CODM, the Company's President and Chief Executive Officer). Such information is the basis for the analysis of segment performance and the allocation of resources. Performance is evaluated based on net income (loss) and variances of actual performance from the Company's budget and/or forecast when making decisions. 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 since it has separate financial information 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. Decisions by the CODM are made in consultation with other members of management, as appropriate, and are subject to the general oversight and strategic direction of the Board of Directors.

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

 

 

Reportable Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Avista
Utilities

 

 

Alaska
Electric
Light and
Power
Company

 

 

Total Utility

 

 

Other Non-Reportable Segment Items

 

 

Eliminations (1)

 

 

Total

 

For the three months ended September 30, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

394

 

 

$

9

 

 

$

403

 

 

$

—

 

 

$

—

 

 

$

403

 

Resource costs

 

 

115

 

 

 

—

 

 

 

115

 

 

 

—

 

 

 

—

 

 

 

115

 

Other operating expenses

 

 

120

 

 

 

5

 

 

 

125

 

 

 

3

 

 

 

—

 

 

 

128

 

Depreciation and amortization

 

 

70

 

 

 

3

 

 

 

73

 

 

 

—

 

 

 

—

 

 

 

73

 

Interest income

 

 

4

 

 

 

—

 

 

 

4

 

 

 

1

 

 

 

(1

)

 

 

4

 

Interest expense (2)

 

 

38

 

 

 

2

 

 

 

40

 

 

 

—

 

 

 

(1

)

 

 

39

 

Other segment expenses (3)

 

 

22

 

 

 

—

 

 

 

22

 

 

 

(1

)

 

 

—

 

 

 

21

 

Income tax expense (benefit)

 

 

3

 

 

 

(1

)

 

 

2

 

 

 

—

 

 

 

—

 

 

 

2

 

Net income (loss)

 

 

30

 

 

 

—

 

 

 

30

 

 

 

(1

)

 

 

—

 

 

 

29

 

Capital expenditures (4)

 

 

127

 

 

 

6

 

 

 

133

 

 

 

—

 

 

 

—

 

 

 

133

 

For the three months ended September 30, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

384

 

 

$

10

 

 

$

394

 

 

$

—

 

 

$

—

 

 

$

394

 

Resource costs

 

 

141

 

 

 

1

 

 

 

142

 

 

 

—

 

 

 

—

 

 

 

142

 

Other operating expenses

 

 

103

 

 

 

4

 

 

 

107

 

 

 

—

 

 

 

—

 

 

 

107

 

Depreciation and amortization

 

 

65

 

 

 

3

 

 

 

68

 

 

 

—

 

 

 

—

 

 

 

68

 

Interest income

 

 

4

 

 

 

—

 

 

 

4

 

 

 

—

 

 

 

(1

)

 

 

3

 

Interest expense (2)

 

 

36

 

 

 

1

 

 

 

37

 

 

 

1

 

 

 

(1

)

 

 

37

 

Other segment expenses (3)

 

 

23

 

 

 

1

 

 

 

24

 

 

 

1

 

 

 

—

 

 

 

25

 

Income tax expense

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net income (loss)

 

 

20

 

 

 

—

 

 

 

20

 

 

 

(2

)

 

 

—

 

 

 

18

 

Capital expenditures (4)

 

 

144

 

 

 

10

 

 

 

154

 

 

 

—

 

 

 

—

 

 

 

154

 

For the nine months ended September 30, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

1,398

 

 

$

33

 

 

$

1,431

 

 

$

—

 

 

$

—

 

 

$

1,431

 

Resource costs

 

 

500

 

 

 

1

 

 

 

501

 

 

 

—

 

 

 

—

 

 

 

501

 

Other operating expenses

 

 

364

 

 

 

13

 

 

 

377

 

 

 

4

 

 

 

—

 

 

 

381

 

Depreciation and amortization

 

 

207

 

 

 

9

 

 

 

216

 

 

 

—

 

 

 

—

 

 

 

216

 

Interest income

 

 

10

 

 

 

—

 

 

 

10

 

 

 

1

 

 

 

(2

)

 

 

9

 

Interest expense (2)

 

 

110

 

 

 

5

 

 

 

115

 

 

 

2

 

 

 

(2

)

 

 

115

 

Other segment expenses (3)

 

 

79

 

 

 

—

 

 

 

79

 

 

 

11

 

 

 

—

 

 

 

90

 

Income tax expense (benefit)

 

 

17

 

 

 

1

 

 

 

18

 

 

 

(3

)

 

 

—

 

 

 

15

 

Net income (loss)

 

 

131

 

 

 

4

 

 

 

135

 

 

 

(13

)

 

 

—

 

 

 

122

 

Capital expenditures (4)

 

 

363

 

 

 

16

 

 

 

379

 

 

 

—

 

 

 

—

 

 

 

379

 

For the nine months ended September 30, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

1,370

 

 

$

35

 

 

$

1,405

 

 

$

—

 

 

$

—

 

 

$

1,405

 

Resource costs

 

 

576

 

 

 

3

 

 

 

579

 

 

 

—

 

 

 

—

 

 

 

579

 

Other operating expenses

 

 

316

 

 

 

12

 

 

 

328

 

 

 

1

 

 

 

—

 

 

 

329

 

Depreciation and amortization

 

 

195

 

 

 

9

 

 

 

204

 

 

 

—

 

 

 

—

 

 

 

204

 

Interest income

 

 

13

 

 

 

—

 

 

 

13

 

 

 

1

 

 

 

(1

)

 

 

13

 

Interest expense (2)

 

 

107

 

 

 

4

 

 

 

111

 

 

 

2

 

 

 

(1

)

 

 

112

 

Other segment expenses (3)

 

 

77

 

 

 

—

 

 

 

77

 

 

 

2

 

 

 

—

 

 

 

79

 

Income tax expense

 

 

1

 

 

 

2

 

 

 

3

 

 

 

(1

)

 

 

—

 

 

 

2

 

Net income (loss)

 

 

111

 

 

 

5

 

 

 

116

 

 

 

(3

)

 

 

—

 

 

 

113

 

Capital expenditures (4)

 

 

389

 

 

 

16

 

 

 

405

 

 

 

—

 

 

 

—

 

 

 

405

 

Total Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of September 30, 2025:

 

$

7,713

 

 

$

292

 

 

$

8,005

 

 

$

189

 

 

$

(32

)

 

$

8,162

 

As of December 31, 2024:

 

$

7,494

 

 

$

283

 

 

$

7,777

 

 

$

194

 

 

$

(30

)

 

$

7,941

 
(1)
Intersegment eliminations reported as interest expense represent intercompany interest.
(2)
Including interest expense to affiliated trusts.
(3)
Other segment items include taxes other than income tax, AFUDC equity, other miscellaneous expenses, and earnings (losses) from investments.
(4)
The capital expenditures for the other businesses are included in other investing activities on the Condensed Consolidated Statements of Cash Flows.