Exhibit 12.1
IDACORP, Inc.
Consolidated Financial Information
Ratio of Earnings to Fixed Charges and Supplemental Ratio of Earnings to Fixed Charges
(Thousands of Dollars)
Nine months ended September 30, | Twelve Months Ended | |||||||||||||||||
December 31, | ||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||
Income from continuing operations before income taxes | $ | 193,556 | $ | 240,235 | $ | 210,526 | $ | 254,520 | $ | 206,992 | $ | 125,795 | ||||||
Adjust for distributed income of equity investees | 3,464 | 1,330 | (6,797 | ) | 4,812 | 7,704 | (8,993 | ) | ||||||||||
Fixed charges, as below | 70,488 | 93,409 | 90,012 | 90,236 | 87,635 | 86,758 | ||||||||||||
Total earnings, as defined | $ | 267,508 | $ | 334,974 | $ | 293,741 | $ | 349,568 | $ | 302,331 | $ | 203,560 | ||||||
Fixed charges, as defined: | ||||||||||||||||||
Interest charges (1) | $ | 69,246 | $ | 91,978 | $ | 88,265 | $ | 88,695 | $ | 85,799 | $ | 85,097 | ||||||
Rental interest factor | 1,242 | 1,431 | 1,747 | 1,541 | 1,836 | 1,661 | ||||||||||||
Total fixed charges, as defined | $ | 70,488 | $ | 93,409 | $ | 90,012 | $ | 90,236 | $ | 87,635 | $ | 86,758 | ||||||
Ratio of earnings to fixed charges | 3.80x | 3.59x | 3.26x | 3.87x | 3.45x | 2.35x | ||||||||||||
SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||
Income from continuing operations before income taxes | $ | 193,556 | $ | 240,235 | $ | 210,526 | $ | 254,520 | $ | 206,992 | $ | 125,795 | ||||||
Adjust for distributed income of equity investees | 3,464 | 1,330 | (6,797 | ) | 4,812 | 7,704 | (8,993 | ) | ||||||||||
Supplemental fixed charges, as below | 70,643 | 93,651 | 90,356 | 90,741 | 88,266 | 87,544 | ||||||||||||
Total earnings, as defined | $ | 267,663 | $ | 335,216 | $ | 294,085 | $ | 350,073 | $ | 302,962 | $ | 204,346 | ||||||
Supplemental fixed charges: | ||||||||||||||||||
Interest charges (1) | $ | 69,246 | $ | 91,978 | $ | 88,265 | $ | 88,695 | $ | 85,799 | $ | 85,097 | ||||||
Rental interest factor | 1,242 | 1,431 | 1,747 | 1,541 | 1,836 | 1,661 | ||||||||||||
Supplemental increment to fixed charges (2) | 155 | 242 | 344 | 505 | 631 | 786 | ||||||||||||
Total supplemental fixed charges | $ | 70,643 | $ | 93,651 | $ | 90,356 | $ | 90,741 | $ | 88,266 | $ | 87,544 | ||||||
Supplemental ratio of earnings to fixed charges | 3.79x | 3.58x | 3.25x | 3.86x | 3.43x | 2.33x | ||||||||||||
(1) FIN 48 interest is not included in interest charges. | ||||||||||||||||||
(2) 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. |