Ex-12c
IDACORP
Consolidated Financial Information
Supplemental Ratio of Earnings to Combined Fixed Charges and Preferred Dividends Requirements
Twelve Months Ended December 31, Twelve Months
(Thousands of Dollars) Ended
March 31,
1994 1995 1996 1997 1998 1999
Earnings, as defined:
Income before income taxes.................. $101,775 $127,342 $135,247 $133,570 $133,806 $138,831
Adjust for distributed income of equity
investees................................. 326 (2,058) (1,413) (3,943) (4,697) (7,490)
Equity in loss of equity method
investments............................... 0 0 0 0 458 611
Minority interest in losses of majority
owned subs................................ 0 0 0 0 (125) (102)
Supplemental fixed charges and Pref Div,
as below.................................. 68,946 72,826 73,018 72,208 72,496 73,073
Total earnings, as defined.............. $171,047 $198,110 $206,852 $201,835 $201,938 $204,923
Fixed charges, as defined:
Interest charges............................ $54,433 $56,456 $57,348 $60,761 $60,677 $61,179
Preferred stock dividends of subsidiaries-
gross up-Idcrp rate....................... 11,097 12,834 12,079 7,891 8,445 8,391
Rental interest factor...................... 794 925 991 982 801 934
Total fixed charges..................... 66,324 70,215 70,418 69,634 69,923 70,504
Supplemental increment to fixed charges*.... 2,622 2,611 2,600 2,574 2,573 2,569
Supplemental fixed charges.................. 68,946 72,826 73,018 72,208 72,496 73,073
Preferred dividends requirements............ 0 0 0 0 0 0
Total combined supplemental fixed charges
and preferred dividends............... $68,946 $72,826 $73,018 $72,208 $72,496 $73,073
Supplemental ratio of earnings to combined fixed
charges...................................... 2.48x 2.72x 2.83x 2.80x 2.79x 2.80x
* Explanation of increment:
Exhibit 12-C
interest on the guaranty of American Falls District bonds and Milner Dam Inc.
notes which are already included in operating expense.