EX-12.1 2 ida93016ex121.htm IDACORP, INC. COMPUTATION OF EARNINGS TO FIXED CHARGES Exhibit


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
September 30,
Twelve Months Ended
 
December 31,
 
2016
2015
2014
2013
2012
2011
RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
Income from continuing operations before income taxes
$
193,556

$
240,235

$
210,526

$
254,520

$
206,992

$
125,795

Adjust for distributed income of equity investees
3,464

1,330

(6,797
)
4,812

7,704

(8,993
)
Fixed charges, as below
70,488

93,409

90,012

90,236

87,635

86,758

Total earnings, as defined
$
267,508

$
334,974

$
293,741

$
349,568

$
302,331

$
203,560

 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
Interest charges (1)
$
69,246

$
91,978

$
88,265

$
88,695

$
85,799

$
85,097

Rental interest factor
1,242

1,431

1,747

1,541

1,836

1,661

Total fixed charges, as defined
$
70,488

$
93,409

$
90,012

$
90,236

$
87,635

$
86,758

Ratio of earnings to fixed charges
3.80x

3.59x

3.26x

3.87x

3.45x

2.35x

 
 
 
 
 
 
 
SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
Income from continuing operations before income taxes
$
193,556

$
240,235

$
210,526

$
254,520

$
206,992

$
125,795

Adjust for distributed income of equity investees
3,464

1,330

(6,797
)
4,812

7,704

(8,993
)
Supplemental fixed charges, as below
70,643

93,651

90,356

90,741

88,266

87,544

Total earnings, as defined
$
267,663

$
335,216

$
294,085

$
350,073

$
302,962

$
204,346

 
 
 
 
 
 
 
Supplemental fixed charges:
 
 
 
 
 
 
Interest charges (1)
$
69,246

$
91,978

$
88,265

$
88,695

$
85,799

$
85,097

Rental interest factor
1,242

1,431

1,747

1,541

1,836

1,661

Supplemental increment to fixed charges (2)
155

242

344

505

631

786

Total supplemental fixed charges
$
70,643

$
93,651

$
90,356

$
90,741

$
88,266

$
87,544

Supplemental ratio of earnings to fixed charges
3.79x

3.58x

3.25x

3.86x

3.43x

2.33x

 
 
 
 
 
 
 
(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.