AVISTA CORP Earnings Per Share Disclosure
The following table presents the computation of basic and diluted earnings per common share for the years ended December 31 (dollars in millions, except per share amounts, and shares in thousands):
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2025 |
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2024 |
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2023 |
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Numerator: |
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Net income |
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$ |
193 |
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$ |
180 |
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$ |
171 |
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Denominator: |
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Weighted-average number of common shares outstanding-basic |
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80,975 |
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78,725 |
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76,396 |
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Effect of dilutive securities: |
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Performance and restricted stock awards |
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76 |
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95 |
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100 |
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Weighted-average number of common shares outstanding-diluted |
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81,051 |
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78,820 |
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76,495 |
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Earnings per common share (1): |
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Basic |
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$ |
2.38 |
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$ |
2.29 |
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$ |
2.24 |
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Diluted |
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$ |
2.38 |
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$ |
2.29 |
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$ |
2.24 |
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There were no shares excluded from the calculation because they were antidilutive.
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.