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Content analysis
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Exhibit 12.5 | ||||||||||||
Idaho Power Company | ||||||||||||
Consolidated Financial Information | ||||||||||||
Ratio of Earnings to Fixed Charges | ||||||||||||
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| Nine Months | Twelve Months Ended |
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| Ended | December 31, |
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| September 30, | (Thousands of Dollars) |
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| 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||
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Earnings, as defined: |
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Income before income taxes | $ | 128,761 | $ | 111,965 | $ | 137,890 | $ | 115,764 | $ | 76,936 | $ | 80,319 |
Adjust for distributed income of equity investees | (2,621) | (5,553) | (9,347) | (10,370) | 1,990 | (2,136) | ||||||
Equity in loss of equity method investments | - | - | - | - | - | - | ||||||
Minority interest in losses of majority owned |
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subsidiaries | - | - | - | - | - | - | ||||||
Fixed charges, as below | 56,489 | 68,272 | 60,687 | 57,739 | 55,530 | 60,304 | ||||||
Total earnings, as defined | $ | 182,629 | $ | 174,684 | $ | 189,230 | $ | 163,133 | $ | 134,456 | $ | 138,487 |
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Fixed charges, as defined: |
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Interest charges1 | $ | 55,866 | $ | 67,386 | $ | 59,955 | $ | 56,866 | $ | 54,297 | $ | 59,363 |
Rental interest factor | 623 | 886 | 732 | 873 | 1,233 | 941 | ||||||
Total fixed charges, as defined | $ | 56,489 | $ | 68,272 | $ | 60,687 | $ | 57,739 | $ | 55,530 | $ | 60,304 |
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Ratio of earnings to fixed charges | 3.23 x | 2.56 x | 3.12 x | 2.83 x | 2.42 x | 2.30 x | ||||||
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1 FIN 48 interest is not included in interest charges. |
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