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Ex12
IDACORP, Inc.
Consolidated Financial Information
Ratio of Earnings to Fixed Charges
Twelve Months
Twelve Months Ended December 31, Ended
(Thousands of Dollars) September 30,
1995 1996 1997 1998 1999 2000
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Earnings, as defined:
Income before income taxes $ 127,342 $ 135,247 $ 133,570 $ 133,806 $ 137,021 $ 204,170
Adjust for distributed income of
equity investees (2,058) (1,413) (3,943) (4,697) (837) (2,431)
Equity in loss of equity method 0 0 0 458 435 245
investments
Minority interest in losses of
majority owned subsidiaries 0 0 0 (125) (37) (609)
Fixed charges, as below 70,215 70,418 69,634 69,923 72,243 72,468
Total earnings, as defined $ 195,499 $ 204,252 $ 199,261 $ 199,365 $ 208,825 $ 273,843
Fixed charges, as defined:
Interest charges $ 56,456 $ 57,348 $ 60,761 $ 60,677 $ 62,975 $ 62,682
Preferred stock dividends of
subsidiaries-
gross up-IDACORP rate 12,834 12,079 7,891 8,445 8,313 8,854
Rental interest factor 925 991 982 801 955 932
Total fixed charges, as defined $ 70,215 $ 70,418 $ 69,634 $ 69,923 $ 72,243 $ 72,468
Ratio of earnings to fixed charges 2.78x 2.90x 2.86x 2.85x 2.89x 3.78x
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