Ex12b
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
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)
Fixed charges, as below 70,418 69,634 69,923 72,243 73,261
Total earnings, as defined $ 204,252 $ 199,261 $ 199,365 $ 208,825 $ 279,564
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
Preferred dividends requirements 0 0 0 0 0
Total combined fixed charges
and preferred dividends $ 70,418 $ 69,634 $ 69,923 $ 72,243 $ 73,261
Ratio of earnings to combined fixed
charges and preferred dividends 2.90x 2.86x 2.85x 2.89x 3.82x