EX-12.1 3 ida63012ex121.htm IDACORP, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES IDA 6.30.12 Ex 12.1


Exhibit 12.1
IDACORP, Inc.
Consolidated Financial Information
Ratio of Earnings to Fixed Charges and Supplemental Ratio of Earnings to Fixed Charges
(Thousands of Dollars)

 
Six months ended
June 30,
 
 
 
 
 
 
Twelve Months Ended
 
December 31,
 
2012
2011
2010 
2009 
2008 
2007 
RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
Income from continuing operations before income taxes
$
79,157

$
114,729

$
141,729

$
146,737

$
117,614

$
96,003

Adjust for distributed income of equity investees
4,709

2,073

3,522

13,724

5,176

6,064

Fixed charges, as below
43,697

86,758

86,806

79,461

81,172

72,879

Total earnings, as defined
$
127,563

$
203,560

$
232,057

$
239,922

$
203,962

$
174,946

 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
Interest charges1
$
42,924

$
85,097

$
85,840

$
78,457

$
80,282

$
71,946

Rental interest factor
773

1,661

966

1,004

890

933

Total fixed charges, as defined
$
43,697

$
86,758

$
86,806

$
79,461

$
81,172

$
72,879

Ratio of earnings to fixed charges
2.92x

2.35x

2.67x

 3.02x

 2.51x

 2.40x

 
 
 
 
 
 
 
SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
Income from continuing operations before income taxes
$
79,157

$
114,729

$
141,729

$
146,737

$
117,614

$
96,003

Adjust for distributed income of equity investees
4,709

2,073

3,522

13,724

5,176

6,064

Supplemental fixed charges, as below
44,019

87,544

87,870

80,946

82,962

74,631

Total earnings, as defined
$
127,885

$
204,346

$
233,121

$
241,407

$
205,752

$
176,698

 
 
 
 
 
 
 
Supplemental fixed charges:
 
 
 
 
 
 
Interest charges1
$
42,924

$
85,097

$
85,840

$
78,457

$
80,282

$
71,946

Rental interest factor
773

1,661

966

1,004

890

933

Supplemental increment to fixed charges2
322

786

1,064

1,485

1,790

1,752

Total supplemental fixed charges
$
44,019

$
87,544

$
87,870

$
80,946

$
82,962

$
74,631

Supplemental ratio of earnings to fixed charges
2.91x

2.33x

2.65x

2.98x

2.48x

 2.37x

 
 
 
 
 
 
 
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.