Idaho Power Company
Consolidated Financial Information
Ratio of Earnings to Combined Fixed Charges and Preferred Dividend Requirements
Twelve Months Ended December 31,
(Thousands of Dollars)
1990 1991 1992 1993 1994
Computation of Ratio of Earnings to
Fixed Charges:
Consolidated net income $ 69,241 $ 57,872 $ 59,990 $ 84,464 $ 74,930
Income taxes:
Income taxes (includes amounts
charged to other income and
deductions) 26,418 24,321 24,601 38,057 35,307
Investment tax credit adjustment (3,184) (3,177) (1,439) (1,583) (1,064)
Total income taxes 23,234 21,144 23,162 36,474 34,243
Income before income taxes 92,475 79,016 83,152 120,938 109,173
Fixed Charges:
Interest on long-term debt 50,119 54,370 53,408 53,706 51,173
Amortization of debt discount,
expense and premium - net 309 374 392 507 567
Interest on short-term bank loans 1,027 935 647 220 1,157
Other interest 2,259 3,297 1,011 2,023 1,537
Interest portion of rentals 902 884 683 1,077 794
Total fixed charges 54,616 59,860 56,141 57,533 55,228
Preferred dividend requirements 5,685 6,663 7,611 8,547 10,682
Total fixed charges and
preferred dividends 60,301 66,523 63,752 66,080 65,910
Earnings - as defined $147,091 $138,876 $139,293 $178,471 $164,401
Ratio of earnings to fixed charges
preferred dividends 2.44X 2.09X 2.18X 2.70X 2.49X