FAIR VALUE MEASUREMENTS: Fair Value Measurements Level 3 (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents information about IDACORP’s and Idaho Power’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 and 2019 (in thousands of dollars):


	December 31, 2020								December 31, 2019
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds and commercial paper
IDACORP(1)	$	56,048	$	—	$	—	$	56,048	$	64,173	$	—	$	—	$	64,173
Idaho Power	40,038		—		—		40,038		26,510		—		—		26,510
Derivatives	1,995		—		—		1,995		392		13		—		405
Equity securities	50,733		—		—		50,733		42,738		—		—		42,738
Liabilities:
Derivatives	$	134	$	10	$	—	$	144	$	814	$	32	$	—	$	846

(1) Holding company only. Does not include amounts held by Idaho Power.

Fair Value, by Balance Sheet Grouping

The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value, as of December 31, 2020 and 2019, using available market information and appropriate valuation methodologies (in thousands).


	December 31, 2020				December 31, 2019
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
	(thousands of dollars)
IDACORP
Assets:
Notes receivable(1)	$	3,804	$	3,804	$	3,804	$	3,804
Liabilities:
Long-term debt (including current portion)(1)	2,000,414		2,466,967		1,836,659		2,083,931
Idaho Power
Liabilities:
Long-term debt (including current portion)(1)	$	2,000,414	$	2,466,967	$	1,836,659	$	2,083,931

(1) Notes receivable and long-term debt are categorized as Level 3 and Level 2, respectively, of the fair value hierarchy, as defined earlier in this Note 17 - "Fair Value Measurements