Ex-12a
IDACORP, Inc.
Consolidated Financial Information
Supplemental Ratio of Earnings to Fixed Charges
Twelve Months Ended December 31,
(Thousands of Dollars)
1996 1997 1998 1999 2000
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Earnings, as defined:
Income before income taxes....................................... $135,247 $133,570 $133,806 $137,021 $210,701
Adjust for distributed income of equity investees................ (1,413) (3,943) (4,697) (837) (3,116)
Equity in loss of equity method investments...................... 0 0 458 435 186
Minority interest in losses of majority owned subs............... 0 0 (125) (37) (1,468)
Supplemental fixed charges, as below............................. 73,018 72,208 72,496 74,800 75,804
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Total earnings, as defined................................... $206,852 $201,835 $201,938 $211,382 $282,107
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Fixed charges, as defined:
Interest charges................................................. $57,348 $60,761 $60,677 $62,975 $63,339
Preferred stock dividends of subsidiaries-gross up-Idacorp rate.. 12,079 7,891 8,445 8,313 8,886
Rental interest factor........................................... 991 982 801 955 1,036
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Total fixed charges.......................................... 70,418 69,634 69,923 72,243 73,261
Supplemental increment to fixed charges*......................... 2,600 2,574 2,573 2,557 2,543
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Total supplemental fixed charges............................. $73,018 $72,208 $72,496 $74,800 $75,804
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Supplemental ratio of earnings to fixed charges...................... 2.83.x 2.80 x 2.79 x 2.83 x 3.72 x
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* 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