EX-12.1 3 0003.txt EXHIBIT 12A Ex-12a IDACORP, Inc. Consolidated Financial Information Supplemental Ratio of Earnings to Fixed Charges
Twelve Months Ended December 31, (Thousands of Dollars) 1996 1997 1998 1999 2000 ---- ---- ---- ---- ---- Earnings, as defined: Income before income taxes....................................... $135,247 $133,570 $133,806 $137,021 $210,701 Adjust for distributed income of equity investees................ (1,413) (3,943) (4,697) (837) (3,116) Equity in loss of equity method investments...................... 0 0 458 435 186 Minority interest in losses of majority owned subs............... 0 0 (125) (37) (1,468) Supplemental fixed charges, as below............................. 73,018 72,208 72,496 74,800 75,804 --------- --------- --------- --------- --------- Total earnings, as defined................................... $206,852 $201,835 $201,938 $211,382 $282,107 ========= ========= ========= ========= ========= Fixed charges, as defined: Interest charges................................................. $57,348 $60,761 $60,677 $62,975 $63,339 Preferred stock dividends of subsidiaries-gross up-Idacorp rate.. 12,079 7,891 8,445 8,313 8,886 Rental interest factor........................................... 991 982 801 955 1,036 --------- --------- --------- --------- --------- Total fixed charges.......................................... 70,418 69,634 69,923 72,243 73,261 Supplemental increment to fixed charges*......................... 2,600 2,574 2,573 2,557 2,543 --------- --------- --------- --------- --------- Total supplemental fixed charges............................. $73,018 $72,208 $72,496 $74,800 $75,804 ========= ========= ========= ========= ========= Supplemental ratio of earnings to fixed charges...................... 2.83.x 2.80 x 2.79 x 2.83 x 3.72 x ========= ========= ========= ========= =========
* 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