Exhibit 12.2
Idaho Power Company
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 | $ | 191,467 | $ | 239,211 | $ | 208,903 | $ | 253,001 | $ | 204,138 | $ | 123,351 | ||||||
Adjust for distributed income of equity investees | 4,736 | 1,060 | (7,228 | ) | 4,659 | 8,509 | (9,018 | ) | ||||||||||
Fixed charges, as below | 70,283 | 93,164 | 89,751 | 89,819 | 87,162 | 86,249 | ||||||||||||
Total earnings, as defined | $ | 266,486 | $ | 333,435 | $ | 291,426 | $ | 347,479 | $ | 299,809 | $ | 200,582 | ||||||
Fixed charges, as defined: | ||||||||||||||||||
Interest charges (1) | $ | 69,056 | $ | 91,762 | $ | 88,034 | $ | 88,309 | $ | 85,359 | $ | 84,626 | ||||||
Rental interest factor | 1,227 | 1,402 | 1,717 | 1,510 | 1,803 | 1,623 | ||||||||||||
Total fixed charges, as defined | $ | 70,283 | $ | 93,164 | $ | 89,751 | $ | 89,819 | $ | 87,162 | $ | 86,249 | ||||||
Ratio of earnings to fixed charges | 3.79x | 3.58x | 3.25x | 3.87x | 3.44x | 2.33x | ||||||||||||
SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||
Income from continuing operations before income taxes | $ | 191,467 | $ | 239,211 | $ | 208,903 | $ | 253,001 | $ | 204,138 | $ | 123,351 | ||||||
Adjust for distributed income of equity investees | 4,736 | 1,060 | (7,228 | ) | 4,659 | 8,509 | (9,018 | ) | ||||||||||
Supplemental fixed charges, as below | 70,438 | 93,406 | 90,095 | 90,324 | 87,793 | 87,035 | ||||||||||||
Total earnings, as defined | $ | 266,641 | $ | 333,677 | $ | 291,770 | $ | 347,984 | $ | 300,440 | $ | 201,368 | ||||||
Supplemental fixed charges: | ||||||||||||||||||
Interest charges (1) | $ | 69,056 | $ | 91,762 | $ | 88,034 | $ | 88,309 | $ | 85,359 | $ | 84,626 | ||||||
Rental interest factor | 1,227 | 1,402 | 1,717 | 1,510 | 1,803 | 1,623 | ||||||||||||
Supplemental increment to fixed charges (2) | 155 | 242 | 344 | 505 | 631 | 786 | ||||||||||||
Total supplemental fixed charges | $ | 70,438 | $ | 93,406 | $ | 90,095 | $ | 90,324 | $ | 87,793 | $ | 87,035 | ||||||
Supplemental ratio of earnings to fixed charges | 3.79x | 3.57x | 3.24x | 3.85x | 3.42x | 2.31x | ||||||||||||
(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. |