FAIR VALUE MEASUREMENTS: Fair Value Measurements Level 3 (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents information about IDACORP’s and Idaho Power’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 and 2018 (in thousands of dollars):



	December 31, 2019								December 31, 2018
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds and commercial paper
IDACORP⁽¹⁾	$	64,173	$	—	$	—	$	64,173	$	97,833	$	—	$	—	$	97,833
Idaho Power	26,510		—		—		26,510		79,228		—		—		79,228
Derivatives	392		13		—		405		3,655		—		—		3,655
Equity securities	42,738		—		—		42,738		36,488		—		—		36,488
Liabilities:
Derivatives	$	814	$	32	$	—	$	846	$	870	$	104	$	—	$	974

(1) Holding company only. Does not include amounts held by Idaho Power.

Fair Value, by Balance Sheet Grouping

The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value, as of December 31, 2019 and 2018, using available market information and appropriate valuation methodologies (in thousands).



	December 31, 2019				December 31, 2018
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
	(thousands of dollars)
IDACORP
Assets:
Notes receivable⁽¹⁾	$	3,804	$	3,804	$	3,804	$	3,804
Liabilities:
Long-term debt (including current portion)⁽¹⁾	1,836,659		2,083,931		1,834,788		1,942,773
Idaho Power
Liabilities:
Long-term debt (including current portion)⁽¹⁾	$	1,836,659	$	2,083,931	$	1,834,788	$	1,942,773

(1) Notes receivable and long-term debt are categorized as Level 3 and Level 2, respectively, of the fair value hierarchy, as defined earlier in this Note 17 - "Fair Value Measurements