EXHIBIT 12.2
IDAHO POWER COMPANY
CONSOLIDATED FINANCIAL INFORMATION
SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES
TWELVE MONTHS
ENDED
TWELVE MONTHS ENDED DECEMBER 31, JUNE 30,
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1993 1994 1995 1996 1997 1998
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(THOUSANDS OF DOLLARS)
Computation of Ratio of Earnings to Fixed
Charges:
Consolidated net income............... $ 84,464 $ 74,930 $ 86,921 $ 90,618 $ 92,274 $ 93,079
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Income taxes:
Income taxes (incl amounts charged to
other income and deductions)........ 38,057 35,307 49,498 51,316 47,559 43,793
Investment tax credit adjustment...... (1,583) (1,064) (1,086) 776 (1,087) (470)
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Total income taxes.................. 36,474 34,243 48,412 52,092 46,472 43,323
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Income before income taxes................ 120,938 109,173 135,333 142,710 138,746 136,402
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Fixed Charges:
Interest on long-term debt............ 53,706 51,172 51,147 52,165 53,215 52,350
Expense and premium--net.............. 507 567 567 594 653 656
Interest on short-term bank loans..... 220 1,157 3,144 2,269 2,902 3,050
Other interest........................ 2,023 1,538 1,598 2,319 3,990 4,104
Interest portion of rentals........... 1,077 794 925 991 982 1,002
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Total fixed charges................. 57,533 55,228 57,381 58,338 61,742 61,162
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Supplemental increment to fixed
charges*............................ 2,631 2,622 2,611 2,600 2,574 2,580
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Total supplemental fixed charges.... 60,164 57,850 59,992 60,938 64,316 63,742
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Supplemental Earnings--as defined......... $ 181,102 $ 167,023 $ 195,325 $ 203,648 $ 203,062 $ 200,144
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Supplemental Ratio of earnings to fixed
charges................................. 3.01x 2.89x 3.26x 3.34x 3.16x 3.14x
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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 operating expense.