Ex12f
Idaho Power Company
Consolidated Financial Information
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends Requirements
Twelve Months
Twelve Months Ended December 31, Ended
(Thousands of Dollars) March 31,
1995 1996 1997 1998 1999 2000
Earnings, as defined:
Income before income taxes $ 135,333 $ 142,710 $ 138,746 $ 140,984 $ 143,078 $ 150,462
Adjust for distributed income of
equity investees (2,058) (1,413) (3,943) (4,697) (837) (4,734)
Equity in loss of equity method
investments 0 0 0 476 0 0
Minority interest in losses of
majority owned subsidiaries 0 0 0 (125) 0 0
Fixed charges, as below 57,381 58,339 61,743 61,394 62,969 62,070
Total earnings, as defined $ 190,656 $ 199,636 $ 196,546 $ 198,032 $ 205,210 $ 207,798
Fixed charges, as defined:
Interest charges $ 56,456 $ 57,348 $ 60,761 $ 60,593 $ 62,014 $ 61,102
Rental interest factor 925 991 982 801 955 968
Total fixed charges 57,381 58,339 61,743 61,394 62,969 62,070
Preferred stock dividends-gross
up Idaho Power rate 12,392 12,146 7,803 8,275 8,133 8,750
Total combined fixed charges
and preferred dividends $ 69,773 $ 70,485 $ 69,546 $ 69,669 $ 71,102 $ 70,820
Ratio of earnings to combined fixed
charges and preferred dividends 2.73x 2.83x 2.83x 2.84x 2.89x 2.93x