EX-12 8 ex12e1.htm IDACORP, INC

Exhibit 12(e)

Idaho Power Company
Consolidated Financial Information
Supplemental Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

Twelve Months Ended

 

 

 

 

December 31,

 

 

 

 

(Thousands of Dollars)

 

 

 

 

 

 

June 30,

 

 

2000

 

2001

 

2002

 

2003

 

2004

 

2005

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

before income taxes

 

$

128,139 

 

$

48,250 

 

$

86,326 

 

$

80,319 

 

$

76,936

 

$

87,659

 

Adjust for distributed income of equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

investees

 

 

(3,116)

 

 

(1,620)

 

 

(2,544)

 

 

(20,536)

 

 

26,616

 

 

17,869

 

Equity in loss of equity method

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

investments

 

 

 

 

 

 

 

 

 

 

-

 

 

-

 

Minority interest in losses of majority

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

owned subsidiaries

 

 

 

 

 

 

 

 

 

 

-

 

 

-

 

Supplemental fixed charges, as below

 

 

61,372 

 

 

66,748 

 

 

63,002 

 

 

61,849 

 

 

57,047

 

 

58,859

 

 

Total earnings, as defined

 

$

186,395 

 

$

113,378 

 

$

146,784 

 

$

121,632 

 

$

160,599

 

$

164,387

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, as defined:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest charges

 

$

57,797 

 

$

64,002 

 

$

60,317 

 

$

59,363 

 

$

54,297

 

$

56,272

 

Rental interest factor

 

 

1,036 

 

 

962 

 

 

1,086 

 

 

941 

 

 

1,233

 

 

1,057

 

 

Total fixed charges

 

$

58,833 

 

$

64,964 

 

$

61,403 

 

$

60,304 

 

$

55,530

 

$

57,329

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplemental increment to fixed charges*

 

 

2,539 

 

 

1,784 

 

 

1,599 

 

 

1,545 

 

 

1,517

 

 

1,530

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total supplemental fixed charges

 

$

61,372 

 

$

66,748 

 

$

63,002 

 

$

61,849 

 

$

57,047

 

$

58,859

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplemental ratio of earnings to fixed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

charges

 

 

3.04x

 

 

1.70x

 

 

2.33x

 

 

1.97x

 

 

2.82x

 

 

2.79x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


*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.