Ex-12c
IDACORP, Inc.
Consolidated Financial Information
Supplemental Ratio of Earnings to Combined Fixed Charges
and Preferred Dividends Requirements
Twelve Months Ended December 31,
(Thousands of Dollars)
1996 1997 1998 1999 2000
---- ---- ---- ---- ----
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 and preferred dividends, 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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Supplemental fixed charges.................................................... 73,018 72,208 72,496 74,800 75,804
Preferred dividends requirements.............................................. 0 0 0 0 0
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Total combined supplemental fixed charges and preferred dividends.......... $73,018 $72,208 $72,496 $74,800 $75,804
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Supplemental ratio of earnings to combined fixed charges and preferred dividends 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