Exhibit 12(d)
Idaho Power Company
Consolidated Financial Information
Ratio of Earnings to Fixed Charges
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| Twelve Months Ended |
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| December 31, |
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| (Thousands of Dollars) |
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| June 30, | ||||||||||||||||
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| 2000 |
| 2001 |
| 2002 |
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| 2005 | ||||||||
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Earnings, as defined: |
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| Income from continuing operations |
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| before income taxes |
| $ | 128,139 |
| $ | 48,250 |
| $ | 86,326 |
| $ | 80,319 |
| $ | 76,936 |
| $ | 87,659 |
| Adjust for distributed income of equity |
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| investees |
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| (3,116) |
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| (1,620) |
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| (2,544) |
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| (20,536) |
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| 26,616 |
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| 17,869 |
| Equity in loss of equity method |
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| investments |
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| - |
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| - |
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| - |
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| - |
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| - |
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| - |
| Minority interest in losses of majority |
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| owned subsidiaries |
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| - |
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| - |
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| - |
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| - |
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| - |
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| Fixed charges, as below |
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| 58,833 |
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| 64,964 |
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| 61,403 |
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| 60,304 |
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| 55,530 |
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| 57,329 | |
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| Total earnings, as defined |
| $ | 183,856 |
| $ | 111,594 |
| $ | 145,185 |
| $ | 120,087 |
| $ | 159,082 |
| $ | 162,857 |
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Fixed charges, as defined: |
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| Interest charges |
| $ | 57,797 |
| $ | 64,002 |
| $ | 60,317 |
| $ | 59,363 |
| $ | 54,297 |
| $ | 56,272 | |
| Rental interest factor |
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| 1,036 |
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| 962 |
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| 1,086 |
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| 941 |
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| 1,233 |
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| 1,057 | |
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| Total fixed charges, as defined |
| $ | 58,833 |
| $ | 64,964 |
| $ | 61,403 |
| $ | 60,304 |
| $ | 55,530 |
| $ | 57,329 |
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Ratio of earnings to fixed charges |
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| 3.13x |
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| 1.72x |
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| 2.36x |
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| 1.99x |
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| 2.86x |
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| 2.84x | ||
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