EX-12 7 ex12a1.htm IDACORP, INC

Exhibit 12a

Idaho Power Company
Consolidated Financial Information
Supplemental Ratio of Earnings to Fixed Charges

 

 

Twelve Months Ended

 

Twelve Months

 

 

December 31,

 

Ended

 

 

(Thousands of Dollars)

 

June 30,

 

 

 

 

 

 

 

1997

 

1998

 

1999

 

2000

 

2001

 

2002

 

 

 

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

before income taxes

 

$

135,908 

 

$

133,021 

 

$

119,872 

 

$

128,139 

 

$

48,250 

 

$

70,262 

 

Adjust for distributed income of equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

investees

 

 

(3,943)

 

 

(4,697)

 

 

(837)

 

 

(3,116)

 

 

(1,620)

 

 

(2,073)

 

Equity in loss of equity method

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

investments

 

 

- 

 

 

476 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

Minority interest in losses of majority

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

owned subsidiaries

 

 

- 

 

 

(125)

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

Supplemental fixed charges, as below

 

 

64,317 

 

 

63,967 

 

 

65,526 

 

 

61,372 

 

 

66,748 

 

 

66,279 

 

 

Total earnings, as defined

 

$

196,282 

 

$

192,642 

 

$

184,561 

 

$

186,395 

 

$

113,378 

 

$

134,468 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest charges

 

$

60,761 

 

$

60,593 

 

$

62,014 

 

$

57,797 

 

$

64,002 

 

$

63,640 

 

Rental interest factor

 

 

982 

 

 

801 

 

 

955 

 

 

1,036 

 

 

962 

 

 

1,025 

 

 

Total fixed charges

 

$

61,743 

 

$

61,394 

 

$

62,969 

 

$

58,833 

 

$

64,964 

 

$

64,665 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplemental increment to fixed charges*

 

 

2,574 

 

 

2,573 

 

 

2,557 

 

 

2,539 

 

 

1,784 

 

 

1,614 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total supplemental fixed charges

 

$

64,317 

 

$

63,967 

 

$

65,526 

 

$

61,372 

 

$

66,748 

 

$

66,279 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplemental ratio of earnings to fixed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

charges

 

 

3.05x

 

 

3.01x

 

 

2.82x

 

 

3.04x

 

 

1.70x

 

 

2.03x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


*Explanation of increment - Interest on the guaranty of American Falls Reservoir District bonds and Milner Dam, Inc. notes which are already included in operation expenses.