IDACORP 10Q 2006 Q1 Quarterly report | IDA Filing

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Exhibit 12

IDACORP, INC.
Consolidated Financial Information
Ratio of Earnings to Fixed Charges

			Twelve Months Ended
			December 31,
			(Thousands of Dollars)
													March 31,
			2001		2002		2003		2004		2005		2006

Earnings, as defined:
	Income before income taxes		$	189,860	$	10,525	$	25,459	$	48,213	$	76,582	$	84,222
	Adjust for distributed income of equity
		investees		(1,620)		(2,544)		(20,536)		26,616		4,069		(5,220)
	Equity in loss of equity method
		investments		296		-		-		-		-		-
	Minority interest in losses of majority
		owned subsidiaries		(612)		(211)		(435)		(48)		-		-
	Fixed charges, as below			85,034		62,658		68,134		66,137		64,379		65,080
		Total earnings, as defined	$	272,958	$	70,428	$	72,622	$	140,918		145,030	$	144,082

Fixed charges, as defined:
	Interest charges		$	75,305	$	60,031	$	64,813	$	61,269	$	62,962	$	63,715
	Preferred stock dividends of
		subsidiaries - gross up -
		IDACORP rate		8,142		857		1,915		3,216		-		-
	Rental interest factor			1,587		1,770		1,406		1,652		1,417		1,365
		Total fixed charges, as defined	$	85,034	$	62,658	$	68,134	$	66,137	$	64,379	$	65,080

Ratio of earnings to fixed charges				3.21x		1.12x		1.07x		2.13x		2.25x		2.21x

IDACORP (IDA) 10-Q2006 Q1 Quarterly report

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