EX-12 13 esex12-4.htm EXHIBIT 12.4

 

 

Exhibit 12.4

Idaho Power Company

Consolidated Financial Information

Supplemental Ratio of Earnings to Fixed Charges

Twelve Months Ended

December 31,

(Thousands of Dollars)

 

2009

2008

2007

2006

2005

Earnings, as defined:

Income before income taxes

 $

158,080 

 $

131,715 

 $

111,965 

 $

137,890 

 $

115,764 

Adjust for distributed income of equity investees

2,464 

(6,772)

(5,553)

(9,347)

(10,370)

Equity in loss of equity method investments

Minority interest in losses of majority owned

subsidiaries

Supplemental fixed charges, as below

80,028 

79,358 

70,024 

62,463 

59,351 

Total earnings, as defined

 $

240,572 

 $

204,301 

 $

176,436 

 $

191,006 

 $

164,745 

Fixed charges, as defined:

Interest charges1

 $

77,580 

 $

76,711 

 $

67,386 

 $

59,955 

 $

56,866 

Rental interest factor

963 

857 

886 

732 

873 

Total fixed charges

 $

78,543 

 $

77,568 

 $

68,272 

 $

60,687 

 $

57,739 

Supplemental increment to fixed charges2

1,485 

1,790 

1,752 

1,776 

1,612 

Total supplemental fixed charges

 $

80,028 

 $

79,358 

 $

70,024 

 $

62,463 

 $

59,351 

Supplemental ratio of earnings to fixed charges

3.01 x

2.57 x

2.52 x

3.06 x

2.78 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.