EX-12.1 2 ida63015ex121.htm IDACORP, INC. COMPUTATION OF EARNINGS TO FIXED CHARGES IDA 6.30.15 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)

 
Six months ended
June 30,
Twelve Months Ended
 
December 31,
 
2015
2014
2013
2012
2011
2010
RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
Income from continuing operations before income taxes
$
105,287

$
210,526

$
254,520

$
206,992

$
125,795

$
152,568

Adjust for distributed income of equity investees
2,613

(6,797
)
4,812

7,704

(8,993
)
(7,317
)
Fixed charges, as below
46,764

90,012

90,236

87,635

86,758

86,806

Total earnings, as defined
$
154,664

$
293,741

$
349,568

$
302,331

$
203,560

$
232,057

 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
Interest charges (1)
$
46,057

$
88,265

$
88,695

$
85,799

$
85,097

$
85,840

Rental interest factor
707

1,747

1,541

1,836

1,661

966

Total fixed charges, as defined
$
46,764

$
90,012

$
90,236

$
87,635

$
86,758

$
86,806

Ratio of earnings to fixed charges
3.31x

3.26x

3.87x

3.45x

2.35x

2.67x

 
 
 
 
 
 
 
SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
Income from continuing operations before income taxes
$
105,287

$
210,526

$
254,520

$
206,992

$
125,795

$
152,568

Adjust for distributed income of equity investees
2,613

(6,797
)
4,812

7,704

(8,993
)
(7,317
)
Supplemental fixed charges, as below
46,890

90,356

90,741

88,266

87,544

87,870

Total earnings, as defined
$
154,790

$
294,085

$
350,073

$
302,962

$
204,346

$
233,121

 
 
 
 
 
 
 
Supplemental fixed charges:
 
 
 
 
 
 
Interest charges (1)
$
46,057

$
88,265

$
88,695

$
85,799

$
85,097

$
85,840

Rental interest factor
707

1,747

1,541

1,836

1,661

966

Supplemental increment to fixed charges (2)
126

344

505

631

786

1,064

Total supplemental fixed charges
$
46,890

$
90,356

$
90,741

$
88,266

$
87,544

$
87,870

Supplemental ratio of earnings to fixed charges
3.30x

3.25x

3.86x

3.43x

2.33x

2.65x

 
 
 
 
 
 
 
(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.