AVISTA CORP

Listed Company

AVACIK 0000104918NYSELarge AcceleratedElectric & Other Services CombinedWashingtonFY ends Dec 31

Period

FY 2025

Revenue

$1.96B

Net Income

$193.00M

Total Assets

$8.36B

Equity

$2.71B

Shares Out

82.25M

Op. Cash Flow

$469.00M

Business

AVISTA CORP is primarily an electric and natural gas utility that also holds nonutility investments. It provides electric generation, transmission and distribution services, retail natural gas distribution, wholesale purchases and sales, resource optimization, and related services including renewable energy procurement, energy storage planning and wildfire resiliency programs. The company reports two principal segments: Avista Utilities (regulated electric and gas operations) and AEL&P (regulated electric utility in Juneau), with other activities conducted through subsidiaries such as Avista Capital. It serves retail and wholesale customers across parts of Washington, Idaho, Oregon and Montana and in Juneau, Alaska, and participates in regional markets and pipeline/storage networks.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Utility revenues, exclusive of alternative revenue programs	1,940	1,902	1,746	1,743	1,445
Alternative revenue programs	23	35	5	−34	−7
Total utility revenues	1,963	1,937	1,751	1,709	1,438
Non-utility revenues	1	1	1	1	571,000
Total operating revenues	1,964	1,938	1,752	1,710	1,439
Resource costs	691	798	702	736	497
Other operating expenses	504	442	414	405	366
Depreciation and amortization	289	274	265	253	232
Taxes other than income taxes	121	116	110	114	109
Non-utility operating expenses	5	2	3	12	6
Total operating expenses	1,610	1,632	1,494	1,520	1,211
Income from operations	354	306	258	190	228
Interest expense	152	147	141	118	106
Interest expense to affiliated trusts	2	3	3	1	421,000
Capitalized interest	−6	−5	−4	−4	−4
Other income-net	−11	−22	−19	−63	−33
Income before income taxes	217	183	137	138	159
Income tax expense (benefit)	24	3	−34	−17	12
Net income	193	180	171	155	147
Weighted-average common shares outstanding (thousands), basic	81	79	76	73	70
Weighted-average common shares outstanding (thousands), diluted	81	79	76	73	70
Basic	2.38	2.29	2.24	2.13	2.11
Diluted	2.38	2.29	2.24	2.12	2.1

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	19	30	35	13	22
Accounts and notes receivable, net	220	205	217	256	203
Inventory	236	193	160	108	85
Regulatory assets	135	137	146	194	44
Other current assets	119	91	104	151	81
Total current assets	729	656	662	722	434
Net utility property	6,319	5,987	5,700	5,445	5,226
Goodwill	52	52	52	52	52
Non-current regulatory assets	871	847	894	833	861
Other property and investments-net and other non-current assets	388	399	394	365	281
Total assets	8,359	7,941	7,702	7,417	6,854
Accounts payable	163	125	143	203	133
Short-term borrowings	388	354	349	463	284
Regulatory liabilities	126	108	76	96	77
Other current liabilities	201	184	192	189	169
Total current liabilities	878	771	775	965	913
Pensions and other postretirement benefits	65	75	90	94	153
Deferred income taxes	778	751	718	675	643
Non-current regulatory liabilities	818	834	857	841	862
Other non-current liabilities and deferred credits	305	253	210	176	178
Total liabilities	5,650	5,350	5,217	5,083	4,699
Commitments and Contingencies (See Notes to Consolidated Financial Statements)	—	—	—	—	—
Common stock, no par value; 200,000 shares authorized; 82,193 and 80,039 shares issued and outstanding, respectively (shares in thousands)	1,805	1,720	1,644	1,525	1,380
Accumulated other comprehensive loss	−1	—	−357,000	−2	−11
Retained earnings	905	871	841	812	786
Total equity	2,709	2,591	2,485	2,335	2,155
Total liabilities and equity	8,359	7,941	7,702	7,417	6,854

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	193	180	171	155	147
Depreciation and amortization	289	274	265	253	232
Benefit from (provision for) deferred income taxes	2	−5	−37	−18	11
Power and natural gas cost (deferrals) amortizations, net	−54	104	7	−78	−52
Amortization of debt expense	2	2	3	2	3
Stock-based compensation expense	9	9	8	9	5
Equity-related AFUDC	−11	−9	−7	−7	−7
Pension and other postretirement benefit expense	15	12	14	32	29
Other regulatory assets and liabilities	33	−28	−34	−15	4
Other non-current assets and liabilities	58	36	26	−5	−4
Change in decoupling regulatory deferral	−24	−35	−3	33	6
Realized and unrealized losses on assets and investments	13	5	3	−50	−23
Other	−4	−4	−6	12	−3
Contributions to defined benefit pension plan	−10	−10	−10	−42	−42
Cash received on settlement of interest rate swap agreements	1	4	8	—	324,000
Accounts and notes receivable	−24	3	37	−56	−46
Inventory	−43	−40	−52	−23	−17
Collateral posted for derivative instruments	12	18	129	−141	−18
Income taxes receivable	−5	−3	2	−1	20
Other current assets	−23	16	−26	−7	930,000
Accounts payable	25	−8	−66	66	33
Other current liabilities	15	13	15	22	4
Net cash provided by operating activities	469	534	447	124	267
Utility property capital expenditures (excluding equity-related AFUDC)	−570	−533	−499	−452	−440
Issuance of notes receivable	0	0	−3	−3	−2
Repayments from notes receivable	6	0	0	—	—
Equity and property investments	−4	−10	−13	−10	−16
Proceeds from sale of investments	0	0	3	1	8
Other	4	4	2	4	5
Net cash used in investing activities	−564	−539	−510	−460	−445
Net increase (decrease) in short-term borrowings	33	5	−114	179	81
Proceeds from issuance of long-term debt	140	84	250	400	140
Maturity of long-term debt and finance leases	−4	−3	−17	−253	−3
Issuance of common stock, net of issuance costs	78	68	113	137	90
Cash dividends paid	−159	−150	−141	−129	−118
Other	−4	−4	−6	−7	−4
Net cash provided by financing activities	84	0	85	327	186
Net (decrease) increase in cash and cash equivalents	−11	−5	22	−9	8
Cash paid during the year for interest	144	141	132	107	99
Accounts payable for capital expenditures	36	24	34	28	24

Filings

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