FAIR VALUE MEASUREMENTS: Level 3 (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The table below presents information about IDACORP’s and Idaho Power’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2022, and December 31, 2021 (in thousands).


	March 31, 2022								December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds
IDACORP(1)	$	77,838	$	—	$	—	$	77,838	$	80,406	$	—	$	—	$	80,406
Idaho Power	21,900		—		—		21,900		10,393		—		—		10,393
Derivatives	19,696		—		—		19,696		6,596		2		—		6,598
Equity securities	22,698		—		—		22,698		54,431		—		—		54,431
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)	—		—		—		1,864		—		—		—		1,363
Liabilities:
Derivatives	—		5,598		—		5,598		34		5,713		—		5,747

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

Fair Value, by Balance Sheet Grouping [Table Text Block]

The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value, as of March 31, 2022, and December 31, 2021, using available market information and appropriate valuation methodologies (in thousands).


	March 31, 2022				December 31, 2021
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
IDACORP
Assets:
Notes receivable(1)	$	3,804	$	3,804	$	3,804	$	3,804
Held-to-maturity securities(1)	29,366		27,521		—		—
Liabilities:
Long-term debt, including current portion(1)	2,050,634		2,166,197		2,000,640		2,381,172
Idaho Power
Assets:
Held-to-maturity securities(1)	29,366		27,521		—		—
Liabilities:
Long-term debt, including current portion(1)	2,050,634		2,166,197		2,000,640		2,381,172

(1) Notes receivable are categorized as Level 3 and held-to-maturity securities and long-term debt are categorized as Level 2 of the fair value hierarchy, as defined earlier in this Note 13 - "Fair Value Measurements."