Exhibit 12.2 | ||||||||||||
IDACORP, Inc. | ||||||||||||
Consolidated Financial Information | ||||||||||||
Supplemental Ratio of Earnings to Fixed Charges | ||||||||||||
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| Six Months | Twelve Months Ended |
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| Ended | December 31, |
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| June 30, | (Thousands of Dollars) |
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| 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||
Earnings, as defined: | ||||||||||||
Income from continuing operations before income taxes | $ | 51,757 | $ | 96,003 | $ | 115,452 | $ | 103,327 | $ | 60,830 | $ | 31,063 |
Adjust for distributed income of equity investees | 7,314 | 6,064 | (9,347) | (10,370) | 1,990 | (2,136) | ||||||
Equity in loss of equity method investments | - | - | - | - | - | - | ||||||
Minority interest in losses of majority owned | ||||||||||||
subsidiaries | - | - | - | - | (48) | (435) | ||||||
Supplemental fixed charges, as below | 39,837 | 74,631 | 67,521 | 65,991 | 67,654 | 69,679 | ||||||
Total earnings, as defined | $ | 98,908 | $ | 176,698 | $ | 173,626 | $ | 158,948 | $ | 130,426 | $ | 98,171 |
Fixed charges, as defined: | ||||||||||||
Interest charges1 | $ | 38,508 | $ | 71,946 | $ | 64,720 | $ | 62,962 | $ | 61,269 | $ | 64,813 |
Preferred stock dividends of subsidiaries - gross up - | ||||||||||||
IDACORP rate | - | - | - | - | 3,216 | 1,915 | ||||||
Rental interest factor | 426 | 933 | 1,025 | 1,417 | 1,652 | 1,406 | ||||||
Total fixed charges, as defined | $ | 38,934 | $ | 72,879 | $ | 65,745 | $ | 64,379 | $ | 66,137 | $ | 68,134 |
Supplemental increment to fixed charges2 | 903 | 1,752 | 1,776 | 1,612 | 1,517 | 1,545 | ||||||
Total supplemental fixed charges | $ | 39,837 | $ | 74,631 | $ | 67,521 | $ | 65,991 | $ | 67,654 | $ | 69,679 |
Ratio of earnings to fixed charges | 2.48 x | 2.37 x | 2.57 x | 2.41 x | 1.93 x | 1.41 x | ||||||
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. |
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10-Q Filing
Idacorp (IDA) 10-Q2008 Q2 Quarterly report
Filed: 7 Aug 08, 12:00am