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, | ||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||
Income from continuing operations before income taxes | $ | 211,343 | $ | 257,609 | $ | 226,427 | $ | 239,211 | $ | 208,903 | $ | 253,001 | ||||||
Adjust for distributed income of equity investees | 10,510 | 13,733 | 12,861 | 1,060 | (7,228 | ) | 4,659 | |||||||||||
Fixed charges, as below | 72,630 | 94,191 | 93,615 | 93,164 | 89,751 | 89,819 | ||||||||||||
Total earnings, as defined | $ | 294,483 | $ | 365,533 | $ | 332,903 | $ | 333,435 | $ | 291,426 | $ | 347,479 | ||||||
Fixed charges, as defined: | ||||||||||||||||||
Interest charges (1) | $ | 71,520 | $ | 92,354 | $ | 92,006 | $ | 91,762 | $ | 88,034 | $ | 88,309 | ||||||
Rental interest factor | 1,110 | 1,837 | 1,609 | 1,402 | 1,717 | 1,510 | ||||||||||||
Total fixed charges, as defined | $ | 72,630 | $ | 94,191 | $ | 93,615 | $ | 93,164 | $ | 89,751 | $ | 89,819 | ||||||
Ratio of earnings to fixed charges | 4.05x | 3.88x | 3.56x | 3.58x | 3.25x | 3.87x | ||||||||||||
SUPPLEMENTAL RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||
Earnings, as defined: | ||||||||||||||||||
Income from continuing operations before income taxes | $ | 211,343 | $ | 257,609 | $ | 226,427 | $ | 239,211 | $ | 208,903 | $ | 253,001 | ||||||
Adjust for distributed income of equity investees | 10,510 | 13,733 | 12,861 | 1,060 | (7,228 | ) | 4,659 | |||||||||||
Supplemental fixed charges, as below | 72,846 | 94,401 | 93,833 | 93,406 | 90,095 | 90,324 | ||||||||||||
Total earnings, as defined | $ | 294,699 | $ | 365,743 | $ | 333,121 | $ | 333,677 | $ | 291,770 | $ | 347,984 | ||||||
Supplemental fixed charges: | ||||||||||||||||||
Interest charges (1) | $ | 71,520 | $ | 92,354 | $ | 92,006 | $ | 91,762 | $ | 88,034 | $ | 88,309 | ||||||
Rental interest factor | 1,110 | 1,837 | 1,609 | 1,402 | 1,717 | 1,510 | ||||||||||||
Supplemental increment to fixed charges (2) | 216 | 210 | 218 | 242 | 344 | 505 | ||||||||||||
Total supplemental fixed charges | $ | 72,846 | $ | 94,401 | $ | 93,833 | $ | 93,406 | $ | 90,095 | $ | 90,324 | ||||||
Supplemental ratio of earnings to fixed charges | 4.05x | 3.87x | 3.55x | 3.57x | 3.24x | 3.85x | ||||||||||||
(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. |