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Content analysis
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Exhibit 12(e)
Idaho Power Company
Consolidated Financial Information
Supplemental Ratio of Earnings to Fixed Charges
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Twelve Months Ended | ||||||||||||||||||||
Six | December 31, | |||||||||||||||||||
Months Ended | (Thousands of Dollars) | |||||||||||||||||||
June 30, |
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| 2007 |
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| 2006 |
| 2005 |
| 2004 |
| 2003 |
| 2002 | ||||||
Earnings, as defined: | ||||||||||||||||||||
Income before income taxes | $ | 60,101 | $ | 137,890 | $ | 115,764 | $ | 76,936 | $ | 80,319 | $ | 86,326 | ||||||||
Adjust for distributed income of equity | ||||||||||||||||||||
investees | (2,079) | (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 | - | - | - | - | - | - | ||||||||||||||
Supplemental fixed charges, as below | 32,429 | 62,463 | 59,351 | 57,047 | 61,849 | 63,002 | ||||||||||||||
Total earnings, as defined | $ | 90,451 | $ | 191,006 | $ | 164,745 | $ | 135,973 | $ | 140,032 | $ | 146,784 | ||||||||
Fixed charges, as defined: | ||||||||||||||||||||
Interest charges | $ | 31,129 | $ | 59,955 | $ | 56,866 | $ | 54,297 | $ | 59,363 | $ | 60,317 | ||||||||
Rental interest factor | 425 | 732 | 873 | 1,233 | 941 | 1,086 | ||||||||||||||
Total fixed charges | $ | 31,554 | $ | 60,687 | $ | 57,739 | $ | 55,530 | 60,304 | $ | 61,403 | |||||||||
Supplemental increment to fixed charges* | 875 | 1,776 | 1,612 | 1,517 | 1,545 | 1,599 | ||||||||||||||
Total supplemental fixed charges | $ | 32,429 | $ | 62,463 | $ | 59,351 | $ | 57,047 | $ | 61,849 | $ | 63,002 | ||||||||
Supplemental ratio of earnings to fixed | ||||||||||||||||||||
charges | 2.79x | 3.06x | 2.78x | 2.38x | 2.26x | 2.33x | ||||||||||||||
*Explanation of increment - Interest on the guaranty of American Falls Reservoir District bonds and Milner Dam, Inc. notes which are already included in operating expenses.