Exhibit 12b
IDACORP, Inc
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 $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)
Fixed charges, as below 66,324 70,215 70,418 69,634 69,923 71,303
Total earnings, as defined $168,425 $195,499 $204,252 $199,261 $199,365 $205,792
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
Preferred dividends requirements 0 0 0 0 0 0
Total combined fixed charges and
preferred dividends $ 66,324 $ 70,215 $ 70,418 $ 69,634 $ 69,923 $ 71,303
Ratio of earnings to combined fixed
charges and preferred dividends 2.54x 2.78x 2.90x 2.86x 2.85x 2.89x