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BENEFIT PLANS:
 6 Months Ended
Jun. 30, 2021
Retirement Benefits, Description [Abstract]  
Benefit Plans BENEFIT PLANSIdaho Power has a noncontributory defined benefit pension plan (pension plan) and two nonqualified defined benefit plans for certain senior management employees called the Security Plan for Senior Management Employees I and Security Plan for Senior Management Employees II (together, SMSP). Idaho Power also has a nonqualified defined benefit pension plan for directors that was frozen in 2002. Remaining vested benefits from that plan are included with the SMSP in the disclosures below. The benefits under the pension plan are based on years of service and the employee’s final average earnings. Idaho Power also maintains a defined benefit postretirement benefit plan (consisting of health care and death benefits) that covers all employees who were enrolled in the active-employee group plan at the time of retirement as well as their spouses and
qualifying dependents. The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the three months ended June 30, 2021 and 2020 (in thousands).
Pension PlanSMSPPostretirement
Benefits		Total
 20212020202120202021202020212020
Service cost$13,693 $10,578 $203 $53 $179 $240 $14,075 $10,871 
Interest cost9,456 9,988 889 1,087 502 633 10,847 11,708 
Expected return on plan assets(16,024)(14,089)— — (597)(597)(16,621)(14,686)
Amortization of prior service cost1 1 74 73 12 12 87 86 
Amortization of net loss6,225 4,296 1,052 933 — — 7,277 5,229 
Net periodic benefit cost13,351 10,774 2,218 2,146 96 288 15,665 13,208 
Regulatory deferral of net periodic benefit cost(1)
(12,787)(10,279)— — — — (12,787)(10,279)
Previously deferred pension costs recognized(1)
4,289 4,289 — — — — 4,289 4,289 
Net periodic benefit cost recognized for financial reporting(1)(2)
$4,853 $4,784 $2,218 $2,146 $96 $288 $7,167 $7,218 
 (1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
 (2) Of total net periodic benefit cost recognized for financial reporting, $4.5 million and $4.3 million, respectively, were recognized in "Other operations and maintenance" and $2.6 million and $3.0 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the three months ended June 30, 2021 and 2020.

The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the six months ended June 30, 2021 and 2020 (in thousands).
Pension PlanSMSPPostretirement
Benefits		Total
 20212020202120202021202020212020
Service cost$27,101 $21,493 $406 $106 $532 $514 $28,039 $22,113 
Interest cost18,659 20,006 1,778 2,175 1,030 1,247 21,467 23,428 
Expected return on plan assets(32,045)(28,119)— — (1,198)(1,202)(33,243)(29,321)
Amortization of prior service cost3 3 148 145 24 24 175 172 
Amortization of net loss11,898 8,663 2,103 1,867 — — 14,001 10,530 
Net periodic benefit cost25,616 22,046 4,435 4,293 388 583 30,439 26,922 
Regulatory deferral of net periodic benefit cost(1)
(24,482)(21,021)— — — — (24,482)(21,021)
Previously deferred pension costs recognized(1)
8,577 8,577 — — — — 8,577 8,577 
Net periodic benefit cost recognized for financial reporting(1)(2)
$9,711 $9,602 $4,435 $4,293 $388 $583 $14,534 $14,478 
 (1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
 (2) Of total net periodic benefit cost recognized for financial reporting, $9.3 million and $8.5 million, respectively, were recognized in "Other operations and maintenance" and $5.2 million and $5.9 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the six months ended June 30, 2021 and 2020.

During the six months ended June 30, 2021, Idaho Power made a $10 million contribution to its defined benefit pension plan. In July 2021, Idaho Power made an additional $10 million contribution to the defined benefit pension plan in a continued effort to balance the regulatory collection of these expenditures with the amount and timing of contributions and to mitigate the cost of being in an underfunded position. Idaho Power has no further minimum required contributions to be made to its defined benefit pension plan during 2021, but depending on market conditions and cash flows, Idaho Power expects it will contribute up to a total of $40 million to the pension plan for the full year of 2021. The primary impact of pension contributions is on the timing of cash flows, as the timing of cost recovery lags behind contributions.

In March 2021, the American Rescue Plan Act of 2021 (American Rescue Plan) was signed into law, which included changes to the funding rules for single employer pension plans. The American Rescue Plan lowered the minimum funding requirements by revising liability discount rates and by lengthening the period over which unfunded liabilities must be amortized. This did not have a material effect on Idaho Power's near-term pension contribution plans.
Idaho Power also has an Employee Savings Plan that complies with Section 401(k) of the Internal Revenue Code and covers substantially all employees. Idaho Power matches specified percentages of employee contributions to the Employee Savings Plan.