AVISTA CORP PP&E Disclosure
NOTE 10. PROPERTY, PLANT AND EQUIPMENT
Net Utility Property
Net utility property consisted of the following as of December 31 (dollars in millions):
|
|
2024 |
|
|
2023 |
|
||
Utility plant in service |
|
$ |
8,180 |
|
|
$ |
7,799 |
|
Construction work in progress |
|
|
238 |
|
|
|
180 |
|
Total |
|
|
8,418 |
|
|
|
7,979 |
|
Less: Accumulated depreciation and amortization |
|
|
2,431 |
|
|
|
2,279 |
|
Total net utility property |
|
$ |
5,987 |
|
|
$ |
5,700 |
|
Gross Property, Plant and Equipment
The gross balances of the major classifications of property, plant and equipment are detailed in the following table as of December 31 (dollars in millions):
|
|
2024 |
|
|
2023 |
|
||
Avista Utilities: |
|
|
|
|
|
|
||
Electric production |
|
$ |
1,523 |
|
|
$ |
1,498 |
|
Electric transmission |
|
|
1,105 |
|
|
|
1,059 |
|
Electric distribution |
|
|
2,580 |
|
|
|
2,383 |
|
Electric construction work-in-progress (CWIP) and other |
|
|
452 |
|
|
|
395 |
|
Electric total |
|
|
5,660 |
|
|
|
5,335 |
|
Natural gas underground storage |
|
|
63 |
|
|
|
60 |
|
Natural gas distribution |
|
|
1,624 |
|
|
|
1,539 |
|
Natural gas CWIP and other |
|
|
95 |
|
|
|
92 |
|
Natural gas total |
|
|
1,782 |
|
|
|
1,691 |
|
Common plant (including CWIP) |
|
|
760 |
|
|
|
760 |
|
Total Avista Utilities |
|
|
8,202 |
|
|
|
7,786 |
|
AEL&P: |
|
|
|
|
|
|
||
Electric production |
|
|
120 |
|
|
|
119 |
|
Electric transmission |
|
|
23 |
|
|
|
23 |
|
Electric distribution |
|
|
36 |
|
|
|
32 |
|
Electric CWIP and other |
|
|
26 |
|
|
|
9 |
|
Electric total |
|
|
205 |
|
|
|
183 |
|
Common plant |
|
|
11 |
|
|
|
10 |
|
Total AEL&P |
|
|
216 |
|
|
|
193 |
|
Total gross utility property |
|
|
8,418 |
|
|
|
7,979 |
|
Other (1) |
|
|
6 |
|
|
|
6 |
|
Total |
|
$ |
8,424 |
|
|
$ |
7,985 |
|
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Feb 26, 2025 | Showing above |
| 2023 | Feb 21, 2024 | |
| 2022 | Feb 22, 2023 | |
| 2021 | Feb 23, 2022 | |
| 2020 | Feb 24, 2021 | |
| 2019 | Feb 26, 2020 | |
| 2018 | Feb 20, 2019 | |
| 2017 | Feb 21, 2018 | |
| 2016 | Feb 22, 2017 | |
| 2015 | Feb 24, 2016 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.