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Historical Financial Information

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2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Income Statement (thousands of dollars, except per share amounts and statistics)
Residential revenues 708,126 700,586 684,649 645,236 583,061 547,404 526,966 530,527 552,333 514,954
Commercial revenues 394,313 397,385 378,330 347,970 314,745 293,057 295,203 310,299 319,195 302,650
Industrial revenues 270,571 267,211 244,538 217,368 195,214 181,258 181,372 190,130 195,124 182,590
Irrigation revenues 198,468 196,401 173,929 170,964 168,664 154,791 135,850 158,001 150,030 156,505
Electric utility operating revenues 1,809,609 1,822,965 1,762,894 1,641,040 1,455,410 1,347,340 1,342,940 1,366,582 1,344,893 1,259,353
Total operating revenues 1,812,997 1,826,633 1,766,356 1,643,981 1,458,084 1,350,729 1,346,383 1,370,752 1,349,486 1,262,020
Purchased power 392,462 425,082 501,531 544,345 393,691 297,417 285,266 293,814 248,950 245,764
Fuel expense 253,236 259,204 275,405 230,210 180,550 172,740 156,872 133,198 145,829 179,491
Power cost adjustment 24,997 89,757 6,885 -100,659 -49,844 -33,708 2,047 42,106 52,024 -5,330
Other operations and maintenance expenses(1) 470,537 460,951 399,855 399,375 361,297 352,071 355,770 364,456 346,695 349,290
Energy efficiency programs 30,480 27,580 31,948 33,197 29,920 42,478 40,128 35,703 39,241 33,754
Depreciation 251,072 223,410 195,341 170,077 175,555 171,648 169,210 165,190 162,091 143,661
Other electric utility operating expenses 31,408 8,798 38,550 37,325 34,673 34,914 35,995 36,859 34,089 32,823
Total electric utility expenses(1) 1,454,192 1,494,782 1,449,515 1,313,870 1,125,842 1,037,560 1,045,288 1,071,326 1,028,919 979,453
Total operating expenses(1) 1,459,021 1,498,794 1,452,879 1,316,803 1,128,433 1,041,208 1,048,057 1,073,830 1,033,941 978,438
Operating income(1) 353,976 327,839 313,477 327,178 329,651 309,521 298,326 296,922 315,545 283,582
AFUDC - equity 62,489 53,238 43,221 37,285 31,537 29,551 27,112 24,353 20,784 22,031
Earnings of unconsolidated equity-method investments 4,992 4,539 12,426 11,511 11,435 11,513 12,370 12,449 11,374 12,871
Interest on long-term debt 174,929 139,196 116,216 87,259 84,145 84,251 82,457 84,408 81,198 81,956
AFUDC - debt 36,211 27,785 20,012 13,914 11,993 11,578 10,703 10,151 8,694 10,194
Income before income taxes 310,418 305,004 289,189 297,404 282,784 266,668 257,835 244,909 261,848 234,517
Income tax expense (13,715) 15,053 27,296 37,844 36,912 28,700 24,507 17,386 48,660 36,429
Effective tax rate -4.4% 4.9% 9.4% 12.7% 13.1% 10.8% 9.5% 7.1% 18.6% 15.5%
Net income attributable to IDACORP, Inc. 323,472 289,174 261,195 258,982 245,550 237,417 232,854 226,801 212,419 198,288
Diluted earnings per share 5.90 5.50 5.14 5.11 4.85 4.69 4.61 4.49 4.21 3.94
Dividend declared per share 3.46 3.35 3.20 3.04 2.88 2.72 2.56 2.40 2.24 2.08
2025 2024 2023       2019 2018 2017 2016 2015
Balance Sheet (thousands)
Cash and cash equivalents 215,718 368,865 327,429 177,577 215,243 275,116 217,254 267,492 76,649 61,480
Total current assets 833,404 988,455 1,004,054 693,653 595,873 642,401 565,146 597,640 443,601 440,312
Utility plan in service - net 5,649,641 5,243,057 4,733,788 4,363,188 4,210,365 4,089,959 3,957,784 3,893,075 3,807,888 3,743,567
Construction work in progress 1,740,809 1,244,559 985,502 785,706 670,585 597,152 552,499 480,259 452,424 405,069
Property, plant and equipment - net 7,647,946 6,517,318 5,745,230 5,172,970 4,901,822 4,709,510 4,531,454 4,395,735 4,283,875 4,171,999
Regulatory assets 1,427,793 1,418,057 1,426,815 1,421,912 1,462,431 1,495,488 1,326,433 1,165,467 1,083,483 1,409,329
Total assets 10,225,437 9,239,363 8,475,918 7,543,258 7,210,515 7,095,244 6,641,201 6,382,754 6,045,405 6,289,897
Total current liabilities 897,835 700,801 634,076 548,565 325,624 287,571 374,859 258,592 200,749 249,715
Regulatory liabilities 1,031,062 976,803 874,601 796,644 781,695 757,730 748,198 738,994 698,044 436,845
Long-term debt (including current portion) 3,447,338 3,073,662 2,825,590 2,194,145 2,000,640 2,000,414 1,836,659 1,834,788 1,746,123 1,745,678
Total equity 3,571,874 3,337,955 2,914,743 2,814,615 2,675,234 2,566,456 2,470,553 2,375,811 2,256,114 2,157,866
Common shares issued 54,899 53,962 50,615 50,562 50,516 50,462 50,420 50,420 50,420 50,420
Diluted common shares (weighted) 54,806 52,615 50,806 50,699 50,645 50,572 50,537 50,510 50,424 50,373
2025 2024 2023       2019 2018 2017 2016 2015
Cash Flow Statement (thousands of dollars)
Cash provided by operating activities(2) 601,838 594,417 267,027 351,285 363,264 388,131 366,625 491,626 435,161 344,195
Additions to property, plant and equipment (1,179,327) (1,009,279) (611,137) (432,589) (299,999) (310,938) (278,705) (277,853) (285,488) (296,950)
Cash used in investing activities(2) (1,028,904) (917,661) (589,947) (424,267) (273,653) (347,258) (280,492) (258,177) (280,441) (293,933)
Cash provided by (used in) financing activities 273,919 364,680 472,772 35,316 (149,484) 16,989 (136,371) (42,606) (139,551) (103,584)
Net (decrease) increase in cash and cash equivalents (153,147) 41,436 149,852 (37,666) (59,873) 57,862 (50,238) 190,843 15,169 (53,322)
2025 2024 2023       2019 2018 2017 2016 2015
Financial Statistics
Book value per share $65.11 $61.73 $57.44 $55.52 $52.82 $50.73 $48.90 $47.04 $44.68 $42.74
Market-to-book ratio 194% 177% 171% 194% 215% 189% 218% 198% 204% 188%
Payout ratio 59% 61% 62% 59% 59% 58% 56% 53% 53% 53%
Return on year-end common equity 9.1% 8.7% 9.0% 9.2% 9.2% 9.3% 9.4% 9.6% 9.4% 9.2%

(1)Amounts in Other operations and maintenance expenses, as well as Operating income, in 2014-2017, have been restated to reflect Accounting Standards Update 2017-07, which was adopted by IDACORP on January 1, 2017.
(2)Cash provided by operating activities and Cash used in investing activities for 2017 and 2016 have been recast to conform with current period presentation to reflect Accounting Standards Update 2016-15, which was adopted by IDACORP on January 1, 2018.