Idaho Power 10-Q 2017 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,
	2017		2016		2015		2014			2013		2012
RATIO OF EARNINGS TO FIXED CHARGES
Earnings, as defined:
Income from continuing operations before income taxes	$	104,275	$	226,427	$	239,211	$	208,903		$	253,001	$	204,138
Adjust for distributed income of equity investees	7,183		12,861		1,060		(7,228		)	4,659		8,509
Fixed charges, as below	46,925		93,615		93,164		89,751			89,819		87,162
Total earnings, as defined	$	158,383	$	332,903	$	333,435	$	291,426		$	347,479	$	299,809
Fixed charges, as defined:
Interest charges (1)	$	46,035	$	92,006	$	91,762	$	88,034		$	88,309	$	85,359
Rental interest factor	890		1,609		1,402		1,717			1,510		1,803
Total fixed charges, as defined	$	46,925	$	93,615	$	93,164	$	89,751		$	89,819	$	87,162
Ratio of earnings to fixed charges	3.38x		3.56x		3.58x		3.25x			3.87x		3.44x
SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES
Earnings, as defined:
Income from continuing operations before income taxes	$	104,275	$	226,427	$	239,211	$	208,903		$	253,001	$	204,138
Adjust for distributed income of equity investees	7,183		12,861		1,060		(7,228		)	4,659		8,509
Supplemental fixed charges, as below	47,028		93,833		93,406		90,095			90,324		87,793
Total earnings, as defined	$	158,486	$	333,121	$	333,677	$	291,770		$	347,984	$	300,440
Supplemental fixed charges:
Interest charges (1)	$	46,035	$	92,006	$	91,762	$	88,034		$	88,309	$	85,359
Rental interest factor	890		1,609		1,402		1,717			1,510		1,803
Supplemental increment to fixed charges (2)	103		218		242		344			505		631
Total supplemental fixed charges	$	47,028	$	93,833	$	93,406	$	90,095		$	90,324	$	87,793
Supplemental ratio of earnings to fixed charges	3.37x		3.55x		3.57x		3.24x			3.85x		3.42x
(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.