EX-12.1 2 ida33114ex121.htm IDACORP, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES IDA 3.31.14 Ex 12.1


Exhibit 12.1
IDACORP, Inc.
Consolidated Financial Information
Ratio of Earnings to Fixed Charges and Supplemental Ratio of Earnings to Fixed Charges
(Thousands of Dollars)

 
Three months ended March 31,
Twelve Months Ended
 
December 31,
 
2014
2013
2012
2011
2010
2009
RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
Income from continuing operations before income taxes
$
35,892

$
254,520

$
206,992

$
125,795

$
152,568

$
157,949

Adjust for distributed income of equity investees
(391
)
4,812

7,704

(8,993
)
(7,317
)
2,512

Fixed charges, as below
22,399

90,236

87,635

86,758

86,806

79,461

Total earnings, as defined
$
57,900

$
349,568

$
302,331

$
203,560

$
232,057

$
239,922

 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
Interest charges (1)
$
22,000

$
88,695

$
85,799

$
85,097

$
85,840

$
78,457

Rental interest factor
399

1,541

1,836

1,661

966

1,004

Total fixed charges, as defined
$
22,399

$
90,236

$
87,635

$
86,758

$
86,806

$
79,461

Ratio of earnings to fixed charges

2.58x

3.87x

3.45x

2.35x

2.67x

 3.02x

 
 
 
 
 
 
 
SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings, as defined:
 
 
 
 
 
 
Income from continuing operations before income taxes
$
35,892

$
254,520

$
206,992

$
125,795

$
152,568

$
157,949

Adjust for distributed income of equity investees
(391
)
4,812

7,704

(8,993
)
(7,317
)
2,512

Supplemental fixed charges, as below
22,495

90,741

88,266

87,544

87,870

80,946

Total earnings, as defined
$
57,996

$
350,073

$
302,962

$
204,346

$
233,121

$
241,407

 
 
 
 
 
 
 
Supplemental fixed charges:
 
 
 
 
 
 
Interest charges (1)
$
22,000

$
88,695

$
85,799

$
85,097

$
85,840

$
78,457

Rental interest factor
399

1,541

1,836

1,661

966

1,004

Supplemental increment to fixed charges (2)
96

505

631

786

1,064

1,485

Total supplemental fixed charges
$
22,495

$
90,741

$
88,266

$
87,544

$
87,870

$
80,946

Supplemental ratio of earnings to fixed charges
2.58x

3.86x

3.43x

2.33x

2.65x

2.98x

 
 
 
 
 
 
 
(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.