EX-12 4 ex121.htm IDACORP, INC

Exhibit 12

IDACORP, INC.
Consolidated Financial Information
Ratio of Earnings to Fixed Charges

 

 

Twelve Months Ended

 

Twelve Months

 

 

December 31,

 

Ended,

 

 

(Thousands of Dollars)

 

September 30,

 

 

 

 

 

 

 

1997

 

1998

 

1999

 

2000

 

2001

 

2002

 

 

 

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

133,570 

 

$

133,806 

 

$

137,021 

 

$

210,701 

 

$

189,860 

 

$

55,035 

 

Adjust for distributed income of equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

investees

 

 

(3,943)

 

 

(4,697)

 

 

(837)

 

 

(3,116)

 

 

(1,620)

 

 

(4,105)

 

Equity in loss of equity method

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

investments

 

 

 

 

458 

 

 

435 

 

 

186 

 

 

296 

 

 

156 

 

Minority interest in losses of majority

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

owned subsidiaries

 

 

 

 

(125)

 

 

(37)

 

 

(1,468)

 

 

(612)

 

 

(348)

 

Fixed charges, as below

 

 

69,634 

 

 

69,923 

 

 

72,243 

 

 

73,261 

 

 

85,034 

 

 

66,191 

 

 

Total earnings, as defined

 

$

199,261 

 

$

199,365 

 

$

208,825 

 

$

279,564 

 

$

272,958 

 

$

116,929 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest charges

 

$

60,761 

 

$

60,677 

 

$

62,975 

 

$

63,339 

 

$

75,305 

 

$

61,488 

 

Preferred stock dividends of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

subsidiaries - gross up -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IDACORP rate

 

 

7,891 

 

 

8,445 

 

 

8,313 

 

 

8,886 

 

 

8,142 

 

 

3,168 

 

Rental interest factor

 

 

982 

 

 

801 

 

 

955 

 

 

1,036 

 

 

1,587 

 

 

1,535 

 

 

Total fixed charges, as defined

 

$

69,634 

 

$

69,923 

 

$

72,243 

 

$

73,261 

 

$

85,034 

 

$

66,191 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

2.86x

 

 

2.85x

 

 

2.89x

 

 

3.82x

 

 

3.21x

 

 

1.77x