Exhibit 12f
Idaho Power Company
Consolidated Financial Information
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends Requirements
Twelve Months
Twelve Months Ended December 31, Ended
(Thousand of Dollars) June 30,
1994 1995 1996 1997 1998 1999
Earnings, as defined:
Income before income taxes $109,173 $135,333 $142,710 $138,746 $140,984 $148,063
Adjust for distributed income of
equity investees 326 (2,058) (1,413) (3,943) (4,697) (7,074)
Equity in loss of equity method
investments 0 0 0 0 47 476
Minority interest in losses of
majority owned subsidiaries 0 0 0 0 (125) (115)
Fixed charges, as below 55,227 57,381 58,339 61,743 61,394 62,275
Total earnings, as defined $164,726 $190,656 $199,636 $196,546 $198,032 $203,625
Fixed charges, as defined:
Interest charges $ 54,433 $ 56,456 $ 57,348 $ 60,761 $ 60,593 $ 61,333
Rental interest factor 794 925 991 982 801 942
Total fixed charges 55,227 57,381 58,339 61,743 61,394 62,275
Preferred stock dividends-gross
up Idaho Power rate 10,682 12,392 12,146 7,803 8,275 8,857
Total combined fixed charges and
preferred dividends $ 65,909 $ 69,773 $ 70,485 $ 69,546 $ 69,669 $ 71,132
Ratio of earnings to combined fixed charges and
preferred dividends 2.50x 2.73x 2.83x 2.83x 2.84x 2.86x