EX-12 6 esex12-4.htm

 

 

Exhibit 12.4

Idaho Power Company

Consolidated Financial Information

Supplemental Ratio of Earnings to Fixed Charges

Three Months

Twelve Months Ended

Ended

December 31,

March 31,

(Thousands of Dollars)

 

2009

2008

2007

2006

2005

2004

Earnings, as defined:

Income before income taxes

 $

29,057 

 $

131,715 

 $

111,965 

 $

137,890 

 $

115,764 

 $

76,936 

Adjust for distributed income of equity investees

(3,302)

(6,772)

(5,553)

(9,347)

(10,370)

1,990 

Equity in loss of equity method investments

- 

- 

- 

- 

- 

- 

Minority interest in losses of majority owned

subsidiaries

- 

- 

- 

- 

- 

- 

Supplemental fixed charges, as below

18,692 

79,358 

70,024 

62,463 

59,351 

57,047 

Total earnings, as defined

 $

44,447 

 $

204,301 

 $

176,436 

 $

191,006 

 $

164,745 

 $

135,973 

Fixed charges, as defined:

Interest charges1

 $

18,106 

 $

76,711 

 $

67,386 

 $

59,955 

 $

56,866 

 $

54,297 

Rental interest factor

192 

857 

886 

732 

873 

1,233 

Total fixed charges

 $

18,298 

 $

77,568 

 $

68,272 

 $

60,687 

 $

57,739 

 $

55,530 

Supplemental increment to fixed charges2

394 

1,790 

1,752 

1,776 

1,612 

1,517 

Total supplemental fixed charges

 $

18,692 

 $

79,358 

 $

70,024 

 $

62,463 

 $

59,351 

 $

57,047 

Supplemental ratio of earnings to fixed charges

2.38 x

2.57 x

2.52 x

3.06 x

2.78 x

2.38 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.