Ex-12e
Idaho Power Company
Consolidated Financial Information
Supplemental Ratio of Earnings to Fixed Charges
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.................. $109,173 $135,333 $142,710 $138,746 $140,984 $145,770
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 0 476 611
Minority interest in losses of majority
owned subs................................ 0 0 0 0 (125) (102)
Supplemental fixed charges, as below........ 57,849 59,992 60,939 64,317 64,051 64,495
Total earnings, as defined.............. $167,348 $193,267 $202,236 $199,120 $200,689 $203,284
Fixed charges, as defined:
Interest charges............................ $54,433 $56,456 $57,348 $60,761 $60,677 $60,992
Rental interest factor...................... 794 925 991 982 801 934
Total fixed charges..................... 55,227 57,381 58,339 61,743 61,478 61,926
Supplemental increment to fixed charges*.... 2,622 2,611 2,600 2,574 2,573 2,569
Total supplemental fixed charges........ $57,849 $59,992 $60,939 $64,317 $64,051 $64,495
Supplemental ratio of earnings to fixed charges. 2.89x 3.22x 3.32x 3.10x 3.13x 3.15x
* Explanation of increment:
Interest on the guaranty of American Falls Reservoir District bonds
and Milner Dam Inc. notes which are already included in operating expense.
Exhibit 12-E