Ex-12b
IDACORP, Inc.
Consolidated Financial Information
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends Requirements
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)
Fixed charges, as below........................................... 70,418 69,634 69,923 72,243 73,261
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Total earnings, as defined.................................... $204,252 $199,261 $199,365 $208,825 $279,564
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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
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Preferred dividends requirements.................................. 0 0 0 0 0
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Total combined fixed charges and preferred dividends.......... $70,418 $69,634 $69,923 $72,243 $73,261
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Ratio of earnings to combined fixed charges and preferred dividends. 2.90 x 2.86 x 2.85 x 2.89 x 3.82 x
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