Exhibit 12a
IDACORP, Inc
Consolidated Financial Information
Supplemental Ratio of Earnings to Fixed Charges
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 $101,775 $127,342 $135,247 $133,570 $133,806 $141,032
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 0 458 674
Minority interest in losses of
majority owned subsidiaries 0 0 0 0 (125) (143)
Supplemental fixed charges, as below 68,946 72,826 73,018 72,208 72,496 73,868
Total earnings, as defined $171,047 $198,110 $206,852 $201,835 $201,938 $208,357
Fixed charges, as defined:
Interest charges $ 54,433 $ 56,456 $ 57,348 $ 60,761 $ 60,677 $ 62,017
Preferred stock dividends of
subsidiaries-gross up-Idacorp rate 11,097 12,834 12,079 7,891 8,445 8,344
Rental interest factor 794 925 991 982 801 942
Total fixed charges 66,324 70,215 70,418 69,634 69,923 71,303
Supplemental increment to fixed
charges* 2,622 2,611 2,600 2,574 2,573 2,565
Total supplemental fixed charges $ 68,946 $ 72,826 $ 73,018 $ 72,208 $ 72,496 $ 73,868
Supplemental ratio of earnings to fixed
charges 2.48x 2.72x 2.83x 2.80x 2.79x 2.82x
*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