Exhibit 12.4 | ||||||||||||
IDACORP, Inc. | ||||||||||||
Consolidated Financial Information | ||||||||||||
Supplemental Ratio of Earnings to Combined Fixed Charges and Preferred Dividends Requirements | ||||||||||||
|
| |||||||||||
| Nine Months | Twelve Months Ended |
| |||||||||
| Ended | December 31, |
| |||||||||
| September 30, | (Thousands of Dollars) |
| |||||||||
|
| |||||||||||
| 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||
Earnings, as defined: |
|
|
|
|
|
| ||||||
Income from continuing operations before income taxes | $ | 119,304 | $ | 96,003 | $ | 115,452 | $ | 103,327 | $ | 60,830 | $ | 31,063 |
Adjust for distributed income of equity investees | 5,522 | 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 and preferred dividends, as |
|
|
|
|
|
| ||||||
below | 60,626 | 74,631 | 67,521 | 65,991 | 67,654 | 69,679 | ||||||
Total earnings, as defined | $ | 185,452 | $ | 176,698 | $ | 173,626 | $ | 158,948 | $ | 130,426 | $ | 98,171 |
Fixed charges, as defined: |
|
|
|
|
|
| ||||||
Interest charges1 | $ | 58,593 | $ | 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 | 647 | 933 | 1,025 | 1,417 | 1,652 | 1,406 | ||||||
Total fixed charges | $ | 59,240 | $ | 72,879 | $ | 65,745 | $ | 64,379 | $ | 66,137 | $ | 68,134 |
Supplemental increment to fixed charges2 | 1,386 | 1,752 | 1,776 | 1,612 | 1,517 | 1,545 | ||||||
Supplemental fixed charges | 60,626 | 74,631 | 67,521 | 65,991 | 67,654 | 69,679 | ||||||
Preferred dividends requirements | - | - | - | - | - | - | ||||||
Total combined supplemental | $ | 60,626 | $ | 74,631 | $ | 67,521 | $ | 65,991 | $ | 67,654 | $ | 69,679 |
Supplemental ratio of earnings to combined fixed charges |
|
|
|
|
|
| ||||||
and preferred dividends | 3.06 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. |
|
|
|
|
|
|