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Content analysis
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8th grade Avg
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Exhibit 12(b)
IDACORP, Inc.
Consolidated Financial Information
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends Requirements
| Twelve Months Ended | ||||||||||||||||||||
Three |
| December 31, | |||||||||||||||||||
Months Ended |
|
| (Thousands of Dollars) | ||||||||||||||||||
March 31, |
|
|
| ||||||||||||||||||
2007 | 2006 |
| 2005 |
| 2004 |
| 2003 |
| 2002 | ||||||||||||
Earnings, as defined: | |||||||||||||||||||||
Income from continuing operations | |||||||||||||||||||||
before income taxes | $ | 29,478 | $ | 115,452 | $ | 103,327 | $ | 60,830 | 31,063 | 22,036 | |||||||||||
Adjust for distributed income of equity | |||||||||||||||||||||
investees | 1,326 | (9,347) | (10,370) | 1,990 | (2,136) | (2,544) | |||||||||||||||
Equity in loss of equity method | |||||||||||||||||||||
investments | - | - | - | - | - | - | |||||||||||||||
Minority interest in losses of majority | |||||||||||||||||||||
owned subsidiaries | - | - | - | (48) | (435) | (211) | |||||||||||||||
Fixed charges, as below | 16,893 | 65,745 | 64,379 | 66,137 | 68,134 | 62,658 | |||||||||||||||
Total earnings, as defined | $ | 47,697 | $ | 171,850 | $ | 157,336 | $ | 128,909 | 96,626 | 81,939 | |||||||||||
Fixed charges, as defined: | |||||||||||||||||||||
Interest charges | $ | 16,691 | $ | 64,720 | $ | 62,962 | $ | 61,269 | 64,813 | 60,031 | |||||||||||
Preferred stock dividends of | |||||||||||||||||||||
subsidiaries - gross up - | |||||||||||||||||||||
IDACORP rate | - | - | - | 3,216 | 1,915 | 857 | |||||||||||||||
Rental interest factor | 202 | 1,025 | 1,417 | 1,652 | 1,406 | 1,770 | |||||||||||||||
Total fixed charges | $ | 16,893 | $ | 65,745 | $ | 64,379 | 66,137 | 68,134 | 62,658 | ||||||||||||
Preferred dividends requirements | - | - | - | - | - | - | |||||||||||||||
Total combined fixed charges | $ | 16,893 | $ | 65,745 | $ | 64,379 | $ | 66,137 | 68,134 | 62,658 | |||||||||||
Ratio of earnings to combined fixed | |||||||||||||||||||||
charges and preferred dividends | 2.82x | 2.61x | 2.44x | 1.95x | 1.42x | 1.31x | |||||||||||||||