FAIR VALUE MEASUREMENTS: Level 3 (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

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 June 30, 2024, and December 31, 2023 (in thousands).

	June 30, 2024								December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds and commercial paper
IDACORP(1)	$	30,433	$	—	$	—	$	30,433	$	32,472	$	—	$	—	$	32,472
Idaho Power	78,476		—		—		78,476		230,600		—		—		230,600
Derivatives	131		—		—		131		89		—		—		89
Equity securities	35,947		—		—		35,947		37,320		—		—		37,320
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)	—		—		—		4,123		—		—		—		3,751
Liabilities:
Derivatives	2,494		1,745		—		4,239		3,932		2,000		—		5,932

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

Fair Value, by Balance Sheet Grouping [Table Text Block]

The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value as of June 30, 2024, and December 31, 2023, using available market information and appropriate valuation methodologies (in thousands).

	June 30, 2024				December 31, 2023
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
IDACORP
Assets:
Notes receivable(1)	$	3,038	$	3,038	$	3,038	$	3,038
Held-to-maturity securities(1)(2)	31,687		28,304		31,639		28,341
Liabilities:
Long-term debt (including current portion)(1)	2,825,929		2,535,149		2,825,590		2,684,278
Idaho Power
Assets:
Held-to-maturity securities(1)(2)	$	31,687	$	28,304	$	31,639	$	28,341
Liabilities:
Long-term debt (including current portion)(1)	2,825,929		2,535,149		2,825,590		2,684,278

(1) Notes receivable are categorized as Level 3 and held-to-maturity securities and long-term debt are categorized as Level 2 of the fair value hierarchy, as defined earlier in this Note 12 - "Fair Value Measurements."

(2) All held-to-maturity securities are carried at amortized cost and were in a gross unrealized holding loss position totaling $3.4 million and $3.3 million as of June 30, 2024, and December 31, 2023, respectively. Substantially all of these debt securities mature between 2027 and 2038. Based on ongoing credit evaluations of these holdings, Idaho Power does not expect payment defaults or delinquencies and had not recorded an allowance for credit losses for these securities as of June 30, 2024, and December 31, 2023.