Exhibit 12.2
Idaho Power Company
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 | $ | 110,759 | $ | 204,138 | $ | 123,351 | $ | 151,347 | $ | 158,080 | $ | 131,715 | ||||||
Adjust for distributed income of equity investees | 4,958 | 8,509 | (9,018 | ) | (6,526 | ) | 2,464 | (6,772 | ) | |||||||||
Fixed charges, as below | 44,591 | 87,162 | 86,249 | 85,579 | 78,543 | 77,568 | ||||||||||||
Total earnings, as defined | $ | 160,308 | $ | 299,809 | $ | 200,582 | $ | 230,400 | $ | 239,087 | $ | 202,511 | ||||||
Fixed charges, as defined: | ||||||||||||||||||
Interest charges (1) | $ | 43,746 | $ | 85,359 | $ | 84,626 | $ | 84,651 | $ | 77,580 | $ | 76,711 | ||||||
Rental interest factor | 845 | 1,803 | 1,623 | 928 | 963 | 857 | ||||||||||||
Total fixed charges, as defined | $ | 44,591 | $ | 87,162 | $ | 86,249 | $ | 85,579 | $ | 78,543 | $ | 77,568 | ||||||
Ratio of earnings to fixed charges | 3.60x | 3.44x | 2.33x | 2.69x | 3.04x | 2.61x | ||||||||||||
SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||
Income from continuing operations before income taxes | $ | 110,759 | $ | 204,138 | $ | 123,351 | $ | 151,347 | $ | 158,080 | $ | 131,715 | ||||||
Adjust for distributed income of equity investees | 4,958 | 8,509 | (9,018 | ) | (6,526 | ) | 2,464 | (6,772 | ) | |||||||||
Supplemental fixed charges, as below | 44,855 | 87,793 | 87,035 | 86,643 | 80,028 | 79,358 | ||||||||||||
Total earnings, as defined | $ | 160,572 | $ | 300,440 | $ | 201,368 | $ | 231,464 | $ | 240,572 | $ | 204,301 | ||||||
Supplemental fixed charges: | ||||||||||||||||||
Interest charges (1) | $ | 43,746 | $ | 85,359 | $ | 84,626 | $ | 84,651 | $ | 77,580 | $ | 76,711 | ||||||
Rental interest factor | 845 | 1,803 | 1,623 | 928 | 963 | 857 | ||||||||||||
Supplemental increment to fixed charges (2) | 264 | 631 | 786 | 1,064 | 1,485 | 1,790 | ||||||||||||
Total supplemental fixed charges | $ | 44,855 | $ | 87,793 | $ | 87,035 | $ | 86,643 | $ | 80,028 | $ | 79,358 | ||||||
Supplemental ratio of earnings to fixed charges | 3.58x | 3.42x | 2.31x | 2.67x | 3.01x | 2.57x | ||||||||||||
(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. |