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Content analysis
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Exhibit 12.6 | ||||||||||||
Idaho Power Company | ||||||||||||
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 before income taxes | $ | 58,729 | $ | 111,965 | $ | 137,890 | $ | 115,764 | $ | 76,936 | $ | 80,319 |
Adjust for distributed income of equity investees | 1,866 | (5,553) | (9,347) | (10,370) | 1,990 | (2,136) | ||||||
Equity in loss of equity method investments | - | - | - | - | - | - | ||||||
Minority interest in losses of majority owned | ||||||||||||
subsidiaries | - | - | - | - | - | - | ||||||
Supplemental fixed charges, as below | 37,970 | 70,024 | 62,463 | 59,351 | 57,047 | 61,849 | ||||||
Total earnings, as defined | $ | 98,565 | $ | 176,436 | $ | 191,006 | $ | 164,745 | $ | 135,973 | $ | 140,032 |
Fixed charges, as defined: | ||||||||||||
Interest charges1 | $ | 36,659 | $ | 67,386 | $ | 59,955 | $ | 56,866 | $ | 54,297 | $ | 59,363 |
Rental interest factor | 408 | 886 | 732 | 873 | 1,233 | 941 | ||||||
Total fixed charges | $ | 37,067 | $ | 68,272 | $ | 60,687 | $ | 57,739 | $ | 55,530 | $ | 60,304 |
Supplemental increment to fixed charges2 | 903 | 1,752 | 1,776 | 1,612 | 1,517 | 1,545 | ||||||
Total supplemental fixed charges | $ | 37,970 | $ | 70,024 | $ | 62,463 | $ | 59,351 | $ | 57,047 | $ | 61,849 |
Supplemental ratio of earnings to fixed charges | 2.60 x | 2.52 x | 3.06 x | 2.78 x | 2.38 x | 2.26 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. |