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)
| Nine months ended September 30, | Twelve Months Ended | |||||||||||||||||
| December 31, | ||||||||||||||||||
| 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||
| Earnings, as defined: | ||||||||||||||||||
| Income from continuing operations before income taxes | $ | 215,160 | $ | 261,848 | $ | 234,517 | $ | 240,235 | $ | 210,526 | $ | 254,520 | ||||||
| Adjust for distributed income of equity investees | 9,532 | 13,601 | 12,770 | 1,330 | (6,797 | ) | 4,812 | |||||||||||
| Fixed charges, as below | 72,685 | 94,294 | 93,857 | 93,409 | 90,012 | 90,236 | ||||||||||||
| Total earnings, as defined | $ | 297,377 | $ | 369,743 | $ | 341,144 | $ | 334,974 | $ | 293,741 | $ | 349,568 | ||||||
| Fixed charges, as defined: | ||||||||||||||||||
Interest charges (1) | $ | 71,562 | $ | 92,440 | $ | 92,229 | $ | 91,978 | $ | 88,265 | $ | 88,695 | ||||||
| Rental interest factor | 1,123 | 1,854 | 1,628 | 1,431 | 1,747 | 1,541 | ||||||||||||
| Total fixed charges, as defined | $ | 72,685 | $ | 94,294 | $ | 93,857 | $ | 93,409 | $ | 90,012 | $ | 90,236 | ||||||
| Ratio of earnings to fixed charges | 4.09x | 3.92x | 3.63x | 3.59x | 3.26x | 3.87x | ||||||||||||
| SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||
| Earnings, as defined: | ||||||||||||||||||
| Income from continuing operations before income taxes | $ | 215,160 | $ | 261,848 | $ | 234,517 | $ | 240,235 | $ | 210,526 | $ | 254,520 | ||||||
| Adjust for distributed income of equity investees | 9,532 | 13,601 | 12,770 | 1,330 | (6,797 | ) | 4,812 | |||||||||||
| Supplemental fixed charges, as below | 72,901 | 94,504 | 94,075 | 93,651 | 90,356 | 90,741 | ||||||||||||
| Total earnings, as defined | $ | 297,593 | $ | 369,953 | $ | 341,362 | $ | 335,216 | $ | 294,085 | $ | 350,073 | ||||||
| Supplemental fixed charges: | ||||||||||||||||||
Interest charges (1) | $ | 71,562 | $ | 92,440 | $ | 92,229 | $ | 91,978 | $ | 88,265 | $ | 88,695 | ||||||
| Rental interest factor | 1,123 | 1,854 | 1,628 | 1,431 | 1,747 | 1,541 | ||||||||||||
Supplemental increment to fixed charges (2) | 216 | 210 | 218 | 242 | 344 | 505 | ||||||||||||
| Total supplemental fixed charges | $ | 72,901 | $ | 94,504 | $ | 94,075 | $ | 93,651 | $ | 90,356 | $ | 90,741 | ||||||
| Supplemental ratio of earnings to fixed charges | 4.08x | 3.91x | 3.63x | 3.58x | 3.25x | 3.86x | ||||||||||||
(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. | ||||||||||||||||||