EX-12 8 ex12-61.htm EXHIBIT 12-6

 

 

Exhibit 12.6

Idaho Power Company

Consolidated Financial Information

Supplemental Ratio of Earnings to Fixed Charges

 

 

 

Three Months

Twelve Months Ended

 

 

Ended

December 31,

 

 

March 31,

(Thousands of Dollars)

 

 

 

 

2008

2007

2006

2005

2004

2003

Earnings, as defined:

Income before income taxes

 $

31,522 

 $

111,965 

 $

137,890 

 $

115,764 

 $

76,936 

 $

80,319 

Adjust for distributed income of equity investees

796 

(5,553)

(9,347)

(10,370)

1,990 

(2,136)

Equity in loss of equity method investments

- 

- 

- 

- 

- 

- 

Minority interest in losses of majority owned

subsidiaries

- 

- 

- 

- 

- 

- 

Supplemental fixed charges, as below

19,699 

70,024 

62,463 

59,351 

57,047 

61,849 

Total earnings, as defined

 $

52,017 

 $

176,436 

 $

191,006 

 $

164,745 

 $

135,973 

 $

140,032 

Fixed charges, as defined:

Interest charges1

 $

18,998 

 $

67,386 

 $

59,955 

 $

56,866 

 $

54,297 

 $

59,363 

Rental interest factor

246 

886 

732 

873 

1,233 

941 

Total fixed charges

 $

19,244 

 $

68,272 

 $

60,687 

 $

57,739 

 $

55,530 

 $

60,304 

Supplemental increment to fixed charges2

455 

1,752 

1,776 

1,612 

1,517 

1,545 

Total supplemental fixed charges

 $

19,699 

 $

70,024 

 $

62,463 

 $

59,351 

 $

57,047 

 $

61,849 

Supplemental ratio of earnings to fixed charges

2.64 x

2.52 x

3.06 x

2.78 x

2.38 x

2.26 x

1 FIN 48 interest is not included in interest charges.

2 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.