IDACORP (IDA) 10-Q 2013 Q2 Quarterly report

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.