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Historical Financial Information

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2022  2021 20202019 2018 2017 2016 2015 2014 2013
Income Statement (thousands of dollars, except per share amounts and statistics)
Residential revenues  645,236 583,061547,404526,966 530,527 552,333 514,954 512,068 500,195 513,914
Commercial revenues  347,970 314,745 293,057295,203 310,299 319,195 302,650 306,178 299,462 281,009
Industrial revenues  217,368 195,214 181,258181,372 190,130 195,124 182,590 182,254 182,675 165,941
Irrigation revenues  170,964 168,664 154,791135,850 158,001 150,030 156,505 164,403 158,654 159,242
Electric utility operating revenues  1,641,040 1,455,410 1,347,3401,342,940 1,366,582 1,344,893 1,259,353 1,267,505 1,278,651 1,243,098
Total operating revenues  1,643,981 1,458,084 1,350,7291,346,383 1,370,752 1,349,486 1,262,020 1,270,289 1,282,524 1,246,214
Purchased power  544,345 393,691 297,417285,266 293,814 248,950 245,764 226,470 244,628 220,579
Fuel expense  230,210 180,550 172,740156,872 133,198 145,829 179,491 186,231 201,241 214,482
Power cost adjustment  (100,659) (49,844) (33,708)2,047 42,106 52,024 (5,330) 16,766 22,235 (39,537)
Other operations and maintenance expenses(1)  399,375 361,297 352,071355,770 364,456 346,695 349,290 340,082 349,867 348,867
Energy efficiency programs  33,197 29,920 42,47840,128 35,703 39,241 33,754 30,532 27,154 35,636
Depreciation  170,077 175,555 171,648169,210 165,190 162,091 143,661 138,110 132,987 129,735
Other electric utility operating expenses  37,325 34,673 34,91434,044 34,792 34,089 32,823 32,808 31,748 30,561
Total electric utility expenses(1)  1,313,870 1,125,842 1,037,5601,043,337 1,069,259 1,031,949 982,056 973,063 1,014,560 940,323
Total operating expenses(1)  1,316,803 1,128,433 1,041,2081,048,057 1,073,830 1,045,135 990,244 988,192 1,028,828 954,472
Operating income(1)  327,178 329,651 309,521298,326 296,922 307,381 274,379 284,161 258,710 291,742
AFUDC - equity  37,285 31,537 29,55127,112 24,353 20,784 22,031 21,785 17,931 14,858
Earnings of unconsolidated equity-method investments  11,511 11,435 11,51312,370 12,449 11,374 12,871 11,128 12,372 11,939
Interest on long-term debt  87,259 84,145 84,25182,457 84,408 81,198 81,956 83,056 80,562 81,492
AFUDC - debt  (13,914) (11,993) (11,578)(10,703) (10,151) (8,694) (10,194) (10,044) (8,464) (7,663)
Income before income taxes  297,404 282,784 266,668257,835 244,909 261,848 234,517 240,235 210,526 254,520
Income tax expense  37,844 36,912 28,70024,507 17,386 48,660 36,429 45,760 16,772 72,226
Effective tax rate  12.7% 13.1% 10.8%9.5% 7.1% 18.6% 15.5% 19.0% 8.0% 28.4%
Net income attributable to IDACORP, Inc.  258,982 245,550 237,417232,854 226,801 212,419 198,288 194,679 193,480 182,417
Diluted earnings per share  5.11 4.85 4.694.61 4.49 4.21 3.94 3.87 3.85 3.64
Dividend declared per share  3.04 2.88 2.722.56 2.40 2.24 2.08 1.92 1.76 1.57
   2019 2018 2017 2016 2015 2014 2013
Balance Sheet (thousands)
Cash and cash equivalents  177,577215,243 275,116 217,254 267,492 76,649 61,480 114,802 56,808 78,162
Total current assets  693,653 595,873 642,401565,146 597,640 443,601 440,312 462,036 442,101 476,611
Utility plan in service - net  4,363,188 4,210,365 4,089,9593,957,784 3,893,075 3,807,888 3,743,567 3,571,537 3,407,201 3,313,722
Construction work in progress  785,706 670,585 597,154552,499 480,259 452,424 405,069 396,931 401,930 327,000
Property, plant and equipment - net  5,172,970 4,901,822 4,709,5104,531,454 4,395,735 4,283,875 4,171,999 3,992,413 3,833,477 3,665,041
Regulatory assets  1,421,912 1,462,431 1,495,4881,326,433 1,165,467 1,083,483 1,409,329 1,305,210 1,192,345 978,234
Total assets  7,543,258 7,210,515 7,095,2446,641,201 6,382,754 6,045,405 6,289,897 6,023,314 5,701,037 5,347,380
Total current liabilities  548,565 325,624 287,571374,859 258,592 200,749 249,715 242,306 241,781 250,372
Regulatory liabilities  796,644 781,695 757,730748,198 738,994 698,044 436,845 416,282 390,207 375,873
Long-term debt (including current portion)  2,194,145 2,000,640 2,000,4141,836,659 1,834,788 1,746,123 1,745,678 1,726,474 1,599,686 1,599,139
Total equity  2,814,615 2,675,234 2,566,4562,470,553 2,375,811 2,256,114 2,157,866 2,062,044 1,957,565 1,854,740
Common shares issued  50,562 50,516 50,46250,420 50,420 50,420 50,420 50,352 50,309 50,233
Diluted common shares outstanding  50,699 50,645 50,57250,537 50,510 50,424 50,373 50,292 50,199 50,126
   2019 2018 2017 2016 2015 2014 2013
Cash Flow Statement (thousands of dollars)
Cash provided by operating activities(2)  351,285363,264  388,131366,625 491,626 438,020 347,706 353,194 364,343 305,549
Additions to property, plant and equipment  (432,589) (299,999) (310,938)(278,705) (277,853) (285,488) (296,950) (294,021) (274,094) (246,674)
Cash used in investing activities(2)  (424,267) (273,653) (347,258)(280,492) (258,177) (283,300) (297,444) (291,706) (272,420) (236,593)
Cash provided by (used in) financing activities  35,316 (149,484) 16,989(136,371) (42,606) (139,551) (103,584) (3,494) (113,277) (17,321)
Net (decrease) increase in cash and cash equivalents  (37,666) (59,873) 57,862(50,238) 190,843 15,169 (53,322) 57,994 (21,354) 51,635
   2019 2018 2017 2016 2015 2014 2013
Financial Statistics
Book value per share $55.52 $52.82  $50.73$48.90 $47.04 $44.68 $42.74 $40.88 $38.85 $36.84
Market-to-book ratio  194% 215% 189%218% 198% 204% 188% 166% 170% 141%
Payout ratio  59% 59% 58%56% 53% 53% 53% 50% 46% 43%
Return on year-end common equity  9.2% 9.2% 9.3%9.4% 9.6% 9.4% 9.2% 9.5% 9.9% 9.9%

(1) Amounts in Other operations and maintenance expenses, as well as Operating income, in 2014-2017, have been restated to reflect the results of 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 2016-16, which was adopted by IDACORP on January 1, 2018.