Exhibit 12.1
IDACORP, Inc.
Consolidated Financial Information
Ratio of Earnings to Fixed Charges and Supplemental Ratio of Earnings to Fixed Charges
(Thousands of Dollars)
Six months ended June 30, | ||||||||||||||||||
Twelve Months Ended | ||||||||||||||||||
December 31, | ||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||
Income from continuing operations before income taxes | $ | 106,071 | $ | 195,047 | $ | 114,729 | $ | 141,729 | $ | 146,737 | $ | 117,614 | ||||||
Adjust for distributed income of equity investees | 11,042 | 19,649 | 2,073 | 3,522 | 13,724 | 5,176 | ||||||||||||
Fixed charges, as below | 44,807 | 87,635 | 86,758 | 86,806 | 79,461 | 81,172 | ||||||||||||
Total earnings, as defined | $ | 161,920 | $ | 302,331 | $ | 203,560 | $ | 232,057 | $ | 239,922 | $ | 203,962 | ||||||
Fixed charges, as defined: | ||||||||||||||||||
Interest charges (1) | $ | 43,946 | $ | 85,799 | $ | 85,097 | $ | 85,840 | $ | 78,457 | $ | 80,282 | ||||||
Rental interest factor | 861 | 1,836 | 1,661 | 966 | 1,004 | 890 | ||||||||||||
Total fixed charges, as defined | $ | 44,807 | $ | 87,635 | $ | 86,758 | $ | 86,806 | $ | 79,461 | $ | 81,172 | ||||||
Ratio of earnings to fixed charges | 3.61x | 3.45x | 2.35x | 2.67x | 3.02x | 2.51x | ||||||||||||
SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||
Income from continuing operations before income taxes | $ | 106,071 | $ | 195,047 | $ | 114,729 | $ | 141,729 | $ | 146,737 | $ | 117,614 | ||||||
Adjust for distributed income of equity investees | 11,042 | 19,649 | 2,073 | 3,522 | 13,724 | 5,176 | ||||||||||||
Supplemental fixed charges, as below | 45,071 | 88,266 | 87,544 | 87,870 | 80,946 | 82,962 | ||||||||||||
Total earnings, as defined | $ | 162,184 | $ | 302,962 | $ | 204,346 | $ | 233,121 | $ | 241,407 | $ | 205,752 | ||||||
Supplemental fixed charges: | ||||||||||||||||||
Interest charges (1) | $ | 43,946 | $ | 85,799 | $ | 85,097 | $ | 85,840 | $ | 78,457 | $ | 80,282 | ||||||
Rental interest factor | 861 | 1,836 | 1,661 | 966 | 1,004 | 890 | ||||||||||||
Supplemental increment to fixed charges (2) | 264 | 631 | 786 | 1,064 | 1,485 | 1,790 | ||||||||||||
Total supplemental fixed charges | $ | 45,071 | $ | 88,266 | $ | 87,544 | $ | 87,870 | $ | 80,946 | $ | 82,962 | ||||||
Supplemental ratio of earnings to fixed charges | 3.60x | 3.43x | 2.33x | 2.65x | 2.98x | 2.48x | ||||||||||||
(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. |