$IDA

IDACORP INC

CIK:0001057877|SEC Filings

Consolidated Statements of Income Statement - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating Revenues:
Electric utility revenues	$ 468,673	$ 449,672	$ 871,435	$ 881,625
Other	1,125	1,208	1,775	1,713
Total operating revenues	469,798	450,880	873,210	883,338
Operating Expenses:
Purchased power	90,455	88,777	155,536	162,887
Fuel expense	28,323	34,845	92,052	104,246
Power cost adjustment	8,892	28,577	(401)	76,262
Other operations and maintenance	133,668	121,966	259,794	234,973
Energy efficiency programs	6,111	6,115	12,282	11,348
Depreciation and amortization	66,344	61,128	131,863	120,913
Other operating expenses, net	4,334	8,263	8,464	15,943
Total electric utility operating expenses	338,127	349,671	659,590	726,572
Other	1,167	636	1,907	1,264
Total operating expenses	339,294	350,307	661,497	727,836
Operating Income	130,504	100,573	211,713	155,502
Nonoperating (Income) Expense:
Allowance for equity funds used during construction	(18,456)	(15,166)	(38,060)	(29,608)
Earnings of unconsolidated equity-method investments	(1,244)	(1,306)	(1,990)	(2,024)
Interest on long-term debt and finance leases	50,382	44,321	98,155	82,489
Other interest	7,809	7,368	15,161	13,849
Allowance for borrowed funds used during construction	(10,779)	(9,217)	(21,751)	(16,867)
Other income, net	(14,306)	(14,872)	(25,369)	(28,977)
Total nonoperating expense, net	13,406	11,128	26,146	18,862
Income Before Income Taxes	117,098	89,445	185,567	136,640
Income Tax Expense (Benefit)	14,229	(6,681)	14,640	(19,147)
Net Income	102,869	96,126	170,927	155,787
Income attributable to noncontrolling interests	(292)	(345)	(369)	(359)
Net Income Attributable to IDACORP, Inc.	$ 102,577	$ 95,781	$ 170,558	$ 155,428
Weighted-average common shares outstanding - basic (in shares)	55,782	54,159	55,405	54,135
Weighted-average common shares outstanding - diluted (in shares)	57,229	54,380	56,767	54,249
Earnings Per Share of Common Stock:
Earnings attributable to IDACORP, Inc. - basic (in dollars per share)	$ 1.84	$ 1.77	$ 3.08	$ 2.87
Earnings attributable to IDACORP, Inc. - diluted (in dollars per share)	$ 1.79	$ 1.76	$ 3.00	$ 2.87

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities:
Net income	$ 170,927	$ 155,787
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	136,805	123,556
Deferred income taxes and investment tax credits	(6,014)	(45,251)
Changes in regulatory assets and liabilities	13,180	100,003
Pension and postretirement benefit plan expense	22,494	22,608
Contributions to pension and postretirement benefit plans	(4,135)	(2,864)
Earnings of unconsolidated equity-method investments	(1,990)	(2,024)
Distributions from equity-method investments	0	950
Allowance for equity funds used during construction	(38,060)	(29,608)
Other non-cash adjustments to net income, net	3,227	5,238
Change in:
Accounts receivable and unbilled receivables	(96,112)	(28,617)
Prepayments	(11,643)	8,428
Materials, supplies, and fuel stock	(2,019)	(4,803)
Accounts and wages payable	(39,147)	(47,396)
Taxes accrued/receivable	26,091	37,508
Other assets and liabilities	5,431	7,713
Net cash provided by operating activities	179,035	301,228
Investing Activities:
Additions to property, plant and equipment, net	(808,035)	(534,629)
Proceeds from Sale of Other Productive Assets	105,309	62,022
Proceeds from Sale of Intangible Assets	32,138	6,290
Other	(8,742)	(7,379)
Net cash used in investing activities	(679,330)	(473,696)
Financing Activities:
Issuance of long-term debt	350,000	400,000
Discount on issuance of long-term debt	(854)	(3,072)
Retirement of long-term debt	0	(19,885)
Payments on finance lease liabilities	(2,942)	(729)
Dividends on common stock	(98,034)	(93,461)
Issuance of Common Stock	129,357	3,054
Tax withholdings on net settlements of share-based awards	(6,118)	(3,294)
Other	(3,188)	(4,522)
Net cash provided by financing activities	368,221	278,091
Net (decrease) increase in cash and cash equivalents	(132,074)	105,623
Cash and cash equivalents at beginning of the period	215,718	368,865
Cash and cash equivalents at end of the period	83,644	474,488
Supplemental Disclosure of Cash Flow Information:
Cash paid for interest (net of amount capitalized)	72,256	61,414
Non-cash investing and financing activities:
Additions to property, plant, and equipment in accounts payable	238,732	168,635
Right-of-use asset obtained in exchange for finance lease liability	$ 0	$ 226,618

Consolidated Balance Sheets Statement - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 83,644	$ 215,718
Receivables:
Customer	111,739	97,724
Other	59,293	37,764
Income taxes receivable	0	8,669
Accrued unbilled revenues	157,446	79,931
Materials and supplies (at average cost)	202,809	201,896
Fuel stock (at average cost)	25,561	24,455
Prepayments	39,297	30,579
Current regulatory assets	134,728	136,665
Disposal Group, Including Discontinued Operation, Assets	129,667	0
Other	411	3
Total current assets	944,595	833,404
Investments	157,199	155,002
Property, Plant and Equipment:
Utility plant in service	8,690,873	8,249,106
Accumulated provision for depreciation	(2,619,650)	(2,599,465)
Utility plant in service - net	6,071,223	5,649,641
Construction work in progress	1,819,351	1,740,809
Finance lease right-of-use assets	213,947	219,612
Utility plant held for future use	17,399	19,781
Other property, net of accumulated depreciation	36,296	18,103
Property, plant, and equipment - net	8,158,216	7,647,946
Other Assets:
Company-owned life insurance	113,011	105,306
Regulatory assets	1,428,279	1,427,793
Other	64,864	55,986
Total other assets	1,606,154	1,589,085
Total assets	10,866,164	10,225,437
Current Liabilities:
Current maturities of long-term debt	116,300	116,300
Accounts payable	341,287	344,870
Taxes accrued	24,954	7,532
Interest accrued	55,277	49,547
Accrued compensation	61,540	77,245
Current regulatory liabilities	71,752	21,089
Advances from customers	208,268	201,743
Disposal Group, Including Discontinued Operation, Liabilities	9,170	0
Other	69,749	79,509
Total current liabilities	958,297	897,835
Other Liabilities:
Deferred Income Tax	797,548	802,885
Regulatory liabilities	1,028,837	1,031,062
Pension and other postretirement benefits	145,962	137,406
Finance lease liabilities	213,560	216,695
Other	262,248	229,830
Total other liabilities	2,448,155	2,417,878
Long-Term Debt	3,677,926	3,331,038
Commitments and Contingencies
Equity:
Common stock	1,431,553	1,301,907
Retained earnings	2,357,553	2,284,911
Accumulated other comprehensive loss	(14,501)	(14,944)
Total IDACORP, Inc. shareholders’ equity	3,774,605	3,571,874
Noncontrolling interests	7,181	6,812
Total equity	3,781,786	3,578,686
Total	$ 10,866,164	$ 10,225,437