EX-12 168 esex12-1.htm

 

 

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)

Nine Months

Ended

Twelve Months Ended

September 30,

December 31,

 

2010

2009

2008

2007

2006

2005

RATIO OF EARNINGS TO FIXED CHARGES

Earnings, as defined:

Income from continuing operations before income taxes

 $

117,009 

 $

146,737 

 $

117,614 

 $

96,003 

 $

115,452 

 $

103,327 

Adjust for distributed income of equity investees

(164)

13,724 

5,176 

6,064 

(9,347)

(10,370)

Fixed charges, as below

63,787 

79,461 

81,172 

72,879 

65,745 

64,379 

Total earnings, as defined

 $

180,632 

 $

239,922 

 $

203,962 

 $

174,946 

 $

171,850 

 $

157,336 

Fixed charges, as defined:

Interest charges1

 $

63,031 

 $

78,457 

 $

80,282 

 $

71,946 

 $

64,720 

 $

62,962 

Rental interest factor

756 

1,004 

890 

933 

1,025 

1,417 

Total fixed charges, as defined

 $

63,787 

 $

79,461 

 $

81,172 

 $

72,879 

 $

65,745 

 $

64,379 

Ratio of earnings to fixed charges

2.83 x

3.02 x

2.51 x

2.40 x

2.61 x

2.44 x

SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES

Earnings, as defined:

Income from continuing operations before income taxes

 $

117,009 

 $

146,737 

 $

117,614 

 $

96,003 

 $

115,452 

 $

103,327 

Adjust for distributed income of equity investees

(164)

13,724 

5,176 

6,064 

(9,347)

(10,370)

Supplemental fixed charges, as below

64,610 

80,946 

82,962 

74,631 

67,521 

65,991 

Total earnings, as defined

 $

181,455 

 $

241,407 

 $

205,752 

 $

176,698 

 $

173,626 

 $

158,948 

Supplemental fixed charges:

Interest charges1

 $

63,031 

 $

78,457 

 $

80,282 

 $

71,946 

 $

64,720 

 $

62,962 

Rental interest factor

756 

1,004 

890 

933 

1,025 

1,417 

Supplemental increment to fixed charges2

823 

1,485 

1,790 

1,752 

1,776 

1,612 

Total supplemental fixed charges

 $

64,610 

 $

80,946 

 $

82,962 

 $

74,631 

 $

67,521 

 $

65,991 

Supplemental ratio of earnings to fixed charges

2.81 x

2.98 x

2.48 x

2.37 x

2.57 x

2.41 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.