EX-12 6 esex12-2.htm

 

 

Exhibit 12.2

Idaho Power Company

Consolidated Financial Information

 Ratio of Earnings to Fixed Charges and Supplemental Ratio of Earnings to Fixed Charges

(Thousands of Dollars)

Twelve Months Ended

December 31,

 

2010

2009

2008

2007

2006

RATIO OF EARNINGS TO FIXED CHARGES

Earnings, as defined:

Income from continuing operations before income taxes

 $

151,347 

 $

158,080 

 $

131,715 

 $

111,965 

 $

137,890 

Adjust for distributed income of equity investees

(6,526)

2,464 

(6,772)

(5,553)

(9,347)

Fixed charges, as below

85,579 

78,543 

77,568 

68,272 

60,687 

Total earnings, as defined

 $

230,400 

 $

239,087 

 $

202,511 

 $

174,684 

 $

189,230 

Fixed charges, as defined:

Interest charges1

 $

84,651 

 $

77,580 

 $

76,711 

 $

67,386 

 $

59,955 

Rental interest factor

928 

963 

857 

886 

732 

Total fixed charges, as defined

 $

85,579 

 $

78,543 

 $

77,568 

 $

68,272 

 $

60,687 

Ratio of earnings to fixed charges

2.69 x

3.04 x

2.61 x

2.56 x

3.12 x

           

SUPPLEMENTAL RATIO OF EARNINGS TO FIXED

CHARGES

Earnings, as defined:

Income from continuing operations before income taxes

 $

151,347 

 $

158,080 

 $

131,715 

 $

111,965 

 $

137,890 

Adjust for distributed income of equity investees

(6,526)

2,464 

(6,772)

(5,553)

(9,347)

Supplemental fixed charges, as below

86,643 

80,028 

79,358 

70,024 

62,463 

Total earnings, as defined

 $

231,464 

 $

240,572 

 $

204,301 

 $

176,436 

 $

191,006 

Supplemental fixed charges:

Interest charges1

 $

84,651 

 $

77,580 

 $

76,711 

 $

67,386 

 $

59,955 

Rental interest factor

928 

963 

857 

886 

732 

Supplemental increment to fixed charges2

1,064 

1,485 

1,790 

1,752 

1,776 

Total supplemental fixed charges

 $

86,643 

 $

80,028 

 $

79,358 

 $

70,024 

 $

62,463 

Supplemental ratio of earnings to fixed charges

2.67 x

3.01 x

2.57 x

2.52 x

3.06 x

1 FIN 48 interest is not included in interest charges.

2 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.