UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(Mark One)
X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended December 31, 1995
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from .............. to..............
Commission file number 1-3198
IDAHO POWER COMPANY
(Exact name of registrant as specified in its charter)
IDAHO 82-0130980
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1221 W. Idaho Street, Boise, Idaho 83702-5627
(Address of principal executive offices)(Zip Code)
Registrant's telephone number, including area code (208)388-2200
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Name of each exchange on which registered
Common Stock ($2.50 par value) New York and Pacific
Securities registered pursuant to Section 12(g) of the Act:
Preferred Stock
(Title of Class)
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-K is not contained herein,
and will not be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-K or any amendment to this
Form 10-K.
Aggregate market value of voting stock
held by nonaffiliates (January 31, 1996) $1,182,514,000
Number of shares of common stock outstanding at February 29, 1996
37,612,351
Documents Incorporated by Reference:
Part III, Item 10 Portions of the definitive proxy statement of
Item 11 the Registrant to be filed pursuant to
Item 12 Regulation 14A for the 1996 Annual Meeting of
Item 13 Shareowners to be held on May 1, 1996.
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
INDEX TO FINANCIAL STATEMENTS
AND FINANCIAL STATEMENT SCHEDULES
PAGE
Management's Responsibility for Financial Statements 41
Consolidated Financial Statements:
Consolidated Balance Sheets as of December 31, 1995,
1994 and 1993 42-43
Consolidated Statements of Income for the Years
Ended December 31, 1995, 1994 and 1993 44
Consolidated Statements of Retained Earnings for
the Years Ended December 31, 1995, 1994 and 1993 45
Consolidated Statements of Capitalization as of
December 31, 1995, 1994 and 1993 46
Consolidated Statements of Cash Flows for the Years
Ended December 31, 1995, 1994 and 1993 47
Notes to Consolidated Financial Statements 48-58
Independent Auditors' Report 59
Supplemental Financial Information (Unaudited) 60
Supplemental Schedule for the Years Ended December 31,
1995, 1994 and 1993:
Schedule II- Consolidated Valuation and
Qualifying Accounts 67
INDEPENDENT AUDITORS' REPORT
Board of Directors and Shareowners of Idaho Power Company:
We have audited the accompanying consolidated financial statements
of Idaho Power Company and its subsidiaries listed in the
accompanying index to financial statements and financial statement
schedules at Item 8. These financial statements and financial
statement schedules are the responsibility of the Company's
management. Our responsibility is to express an opinion on the
financial statements and financial statement schedules based on our
audits.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, such consolidated financial statements present
fairly, in all material respects, the consolidated financial
position of Idaho Power Company and subsidiaries at December 31,
1995, 1994, and 1993, and the results of their operations and their
cash flows for the years then ended in conformity with generally
accepted accounting principles. Also, in our opinion, such
financial statement schedules, when considered in relation to the
basic consolidated financial statements taken as a whole, present
fairly in all material respects the information set forth therein.
Deloitte & Touche LLP
Portland, Oregon
January 31, 1996
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
IDAHO POWER COMPANY
(Registrant)
March 14, 1996 By:/s/ Joseph W. Marshall
Joseph W. Marshall
Chairman of the Board and
Chief Executive Officer and Director
Pursuant to the requirements of the Securities Exchange Act of
1934, this report is signed below by the following persons on
behalf of the Registrant and in the capacities and on the dates
indicated.
By:/s/Joseph W. Marshall Chairman of the Board and March 14, 1996
Joseph W. Marshall Chief Executive Officer
and Director
By:/s/Larry R. Gunnoe President and Chief Operating "
Larry R. Gunnoe Officer and Director
By:/s/J. LaMont Keen Vice President and Chief "
J. LaMont Keen Financial Officer (Principal
Financial Officer)
By:/s/Harold J. Hochhalter Controller and Chief Accounting "
Harold J. Hochhalter Officer (Principal Accounting
Officer)
By:/s/Robert D. Bolinder By:/s/Evelyn Loveless "
Robert D. Bolinder Evelyn Loveless
Director Director
By:/s/Roger L. Breezley By:/s/Jon H. Miller "
Roger L. Breezley Jon H. Miller
Director Director
By:/s/John B. Carley By:/s/Peter S. O'Neill "
John B. Carley Peter S. O'Neill
Director Director
By:/s/Peter T. Johnson By:/s/Gene C. Rose "
Peter T. Johnson Gene C. Rose
Director Director
By:/s/ Jack K. Lemley By:/s/Phil Soulen "
Jack K. Lemley Phil Soulen
Director Director
