Ex12a
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
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 subsidiaries 0 0 (125) (37) (1,468)
Supplemental fixed charges, as
below 73,018 72,208 72,496 74,800 75,804
Total earnings, as defined $ 206,852 $ 201,835 $ 201,938 $ 211,382 $ 282,107
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
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
Total supplemental fixed charges $ 73,018 $ 72,208 $ 72,496 $ 74,800 $ 75,804
Supplemental ratio of earnings to
fixed charges 2.83 x 2.80 x 2.79 x 2.83 x 3.72x
*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.