EX-12.1 2 ida33113ex121.htm IDACORP, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND SUPPLEMENTAL IDA 3.31.13 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)

 
Three months ended
March 31,
 
 
 
 
 
 
Twelve Months Ended
 
December 31,
 
2013
2012
2011
2010
2009
2008
RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
Income from continuing operations before income taxes
$
44,491

$
195,047

$
114,729

$
141,729

$
146,737

$
117,614

Adjust for distributed income of equity investees
8,197

19,649

2,073

3,522

13,724

5,176

Fixed charges, as below
21,858

87,635

86,758

86,806

79,461

81,172

Total earnings, as defined
$
74,546

$
302,331

$
203,560

$
232,057

$
239,922

$
203,962

 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
Interest charges (1)
$
21,421

$
85,799

$
85,097

$
85,840

$
78,457

$
80,282

Rental interest factor
437

1,836

1,661

966

1,004

890

Total fixed charges, as defined
$
21,858

$
87,635

$
86,758

$
86,806

$
79,461

$
81,172

Ratio of earnings to fixed charges
3.41x

3.45x

2.35x

2.67x

 3.02x

 2.51x

 
 
 
 
 
 
 
SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
Income from continuing operations before income taxes
$
44,491

$
195,047

$
114,729

$
141,729

$
146,737

$
117,614

Adjust for distributed income of equity investees
8,197

19,649

2,073

3,522

13,724

5,176

Supplemental fixed charges, as below
21,999

88,266

87,544

87,870

80,946

82,962

Total earnings, as defined
$
74,687

$
302,962

$
204,346

$
233,121

$
241,407

$
205,752

 
 
 
 
 
 
 
Supplemental fixed charges:
 
 
 
 
 
 
Interest charges (1)
$
21,421

$
85,799

$
85,097

$
85,840

$
78,457

$
80,282

Rental interest factor
437

1,836

1,661

966

1,004

890

Supplemental increment to fixed charges (2)
141

631

786

1,064

1,485

1,790

Total supplemental fixed charges
$
21,999

$
88,266

$
87,544

$
87,870

$
80,946

$
82,962

Supplemental ratio of earnings to fixed charges
3.40x

3.43x

2.33x

2.65x

2.98x

2.48x

 
 
 
 
 
 
 
(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.