Avista Corporation

Filing receipts

“Utility Margin The following table reconciles Avista Utilities' operating revenues, as presented in "Note 14 of the Notes to Condensed Consolidated Financial Statements", to the Non-GAAP financial measure utility margin for the three months ended March 31, 2026 and 2025 (dollars in millions): Electric Natural Gas Intracompany Total 2026 2025 2026 2025 2026 2025 2026 2025 Operating revenues $ 346 $ 363 $ 210 $ 244 $ (1 ) $ (4 ) $ 555 $ 603 Resource costs 112 126 95 134 (1 ) (4 ) 206 256 Utility margin $ 234 $ 237 $ 115 $ 110 $ — $ — $ 349 $ 347 Electric utility margin decreased $3 million primarily due to the removal of revenues related to the recovery of Colstrip capital and operating costs...”

“Changes in other current liabilities and accounts payable decreased operating cash flows by $37 million compared to the first quarter of 2025, primarily due to the timing of a litigation settlement accrual during the first quarter of 2025, as well as decreased payables for natural gas purchases as volumes purchased in 2026 decreased.”

“Capital Resources Our consolidated capital structure, including the current portion of long-term debt and short-term borrowings consisted of the following as of March 31, 2026 and December 31, 2025 (dollars in millions): March 31, 2026 December 31, 2025 Amount Percent of total Amount Percent of total Current portion of long-term debt and leases $ 9 0.2 % $ 9 0.1 % Short-term borrowings 385 6.3 388 6.5 Long-term debt to affiliated trusts 52 0.9 52 0.9 Long-term debt and leases 2,846 46.9 2,846 47.4 Total debt 3,292 54.3 3,295 54.9 Total shareholders’ equity 2,776 45.7 2,709 45.1 Total $ 6,068 100.0 % $ 6,004 100.0 % Our shareholders’ equity increased $67 million during the first quarter of 2...”