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Previous: AVISTA CORP, 10-Q, 2000-11-14 |
Next: AVISTA CORP, 10-Q, EX-27, 2000-11-14 |
<PAGE> 1
EXHIBIT 12
AVISTA CORPORATION
Computation of Ratio of Earnings to Fixed Charges
and Preferred Dividend Requirements Consolidated
(Thousands of Dollars)
<TABLE>
<CAPTION>
12 Mos. Ended
September 30, Years Ended December 31
--------------------------------------------------------
2000 1999 1998 1997 1996
-------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C>
Fixed charges, as defined:
Interest on long-term debt $ 64,155 $ 62,032 $ 66,218 $ 63,413 $ 60,256
Amortization of debt expense
and premium - net 3,102 3,044 2,859 2,862 2,998
Interest portion of rentals 4,436 4,645 4,301 4,354 4,311
-------- -------- -------- -------- --------
Total fixed charges $ 71,693 $ 69,721 $ 73,378 $ 70,629 $ 67,565
======== ======== ======== ======== ========
Earnings, as defined:
Net income $ (5,907) $ 26,031 $ 78,139 $114,797 $ 83,453
Add (deduct):
Income tax expense 9,697 16,740 43,335 61,075 49,509
Total fixed charges above 71,693 69,721 73,378 70,629 67,565
-------- -------- -------- -------- --------
Total earnings $ 75,483 $112,492 $194,852 $246,501 $200,527
======== ======== ======== ======== ========
Ratio of earnings to fixed charges 1.05 1.61 2.66 3.49 2.97
</TABLE>
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