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)
Six months ended June 30, | Twelve Months Ended | |||||||||||||||||
December 31, | ||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||
Income from continuing operations before income taxes | $ | 104,275 | $ | 226,427 | $ | 239,211 | $ | 208,903 | $ | 253,001 | $ | 204,138 | ||||||
Adjust for distributed income of equity investees | 7,183 | 12,861 | 1,060 | (7,228 | ) | 4,659 | 8,509 | |||||||||||
Fixed charges, as below | 46,925 | 93,615 | 93,164 | 89,751 | 89,819 | 87,162 | ||||||||||||
Total earnings, as defined | $ | 158,383 | $ | 332,903 | $ | 333,435 | $ | 291,426 | $ | 347,479 | $ | 299,809 | ||||||
Fixed charges, as defined: | ||||||||||||||||||
Interest charges (1) | $ | 46,035 | $ | 92,006 | $ | 91,762 | $ | 88,034 | $ | 88,309 | $ | 85,359 | ||||||
Rental interest factor | 890 | 1,609 | 1,402 | 1,717 | 1,510 | 1,803 | ||||||||||||
Total fixed charges, as defined | $ | 46,925 | $ | 93,615 | $ | 93,164 | $ | 89,751 | $ | 89,819 | $ | 87,162 | ||||||
Ratio of earnings to fixed charges | 3.38x | 3.56x | 3.58x | 3.25x | 3.87x | 3.44x | ||||||||||||
SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||
Income from continuing operations before income taxes | $ | 104,275 | $ | 226,427 | $ | 239,211 | $ | 208,903 | $ | 253,001 | $ | 204,138 | ||||||
Adjust for distributed income of equity investees | 7,183 | 12,861 | 1,060 | (7,228 | ) | 4,659 | 8,509 | |||||||||||
Supplemental fixed charges, as below | 47,028 | 93,833 | 93,406 | 90,095 | 90,324 | 87,793 | ||||||||||||
Total earnings, as defined | $ | 158,486 | $ | 333,121 | $ | 333,677 | $ | 291,770 | $ | 347,984 | $ | 300,440 | ||||||
Supplemental fixed charges: | ||||||||||||||||||
Interest charges (1) | $ | 46,035 | $ | 92,006 | $ | 91,762 | $ | 88,034 | $ | 88,309 | $ | 85,359 | ||||||
Rental interest factor | 890 | 1,609 | 1,402 | 1,717 | 1,510 | 1,803 | ||||||||||||
Supplemental increment to fixed charges (2) | 103 | 218 | 242 | 344 | 505 | 631 | ||||||||||||
Total supplemental fixed charges | $ | 47,028 | $ | 93,833 | $ | 93,406 | $ | 90,095 | $ | 90,324 | $ | 87,793 | ||||||
Supplemental ratio of earnings to fixed charges | 3.37x | 3.55x | 3.57x | 3.24x | 3.85x | 3.42x | ||||||||||||
(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. |