EX-12 8 ex12e1.htm IDACORP, INC

Exhibit 12(e)

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

 

 

 

 

 

 

Twelve Months Ended

 

 

 

December 31,

 

 

 

(Thousands of Dollars)

 

 

 

 

 

 

 

2001

 

2002

 

2003

 

2004

 

2005

 

 

 

 

 

 

 

 

 

 

 

 

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

before income taxes

 

$

48,250 

 

$

86,326 

 

$

80,319 

 

$

76,936

 

$

115,764

 

Adjust for distributed income of equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

investees

 

 

(1,620)

 

 

(2,544)

 

 

(20,536)

 

 

26,616

 

 

4,069

 

Equity in loss of equity method

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

investments

 

 

- 

 

 

- 

 

 

- 

 

 

-

 

 

-

 

Minority interest in losses of majority

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

owned subsidiaries

 

 

- 

 

 

- 

 

 

- 

 

 

-

 

 

-

 

Supplemental fixed charges, as below

 

 

66,748 

 

 

63,002 

 

 

61,849 

 

 

57,047

 

 

59,351

 

 

Total earnings, as defined

 

$

113,378 

 

$

146,784 

 

$

121,632 

 

$

160,599

 

$

179,184

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest charges

 

$

64,002 

 

$

60,317 

 

$

59,363 

 

$

54,297

 

$

56,866

 

Rental interest factor

 

 

962 

 

 

1,086 

 

 

941 

 

 

1,233

 

 

873

 

 

Total fixed charges

 

$

64,964 

 

$

61,403 

 

$

60,304 

 

$

55,530

 

$

57,739

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplemental increment to fixed charges*

 

 

1,784 

 

 

1,599 

 

 

1,545 

 

 

1,517

 

 

1,612

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total supplemental fixed charges

 

$

66,748 

 

$

63,002 

 

$

61,849 

 

$

57,047

 

$

59,351

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplemental ratio of earnings to fixed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

charges

 

 

1.70x

 

 

2.33x

 

 

1.97x

 

 

2.82x

 

 

3.02x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


*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.