Ex12c
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 subsidiaries 0 0 (125) (37) (1,468)
Supplemental fixed charges and
preferred dividends, 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
Supplemental fixed charges 73,018 72,208 72,496 74,800 75,804
Preferred dividends requirements 0 0 0 0 0
Total combined supplemental
fixed charges and preferred
dividends $ 73,018 $ 72,208 $ 72,496 $ 74,800 $ 75,804
Supplemental ratio of earnings to
combined fixed charges and
preferred dividends 2.83x 2.80x 2.79x 2.83x 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.