$IDA
IDACORP INC

2023 Q3 Form 10-Q Financial Statement

#000105787723000045 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $496.6M $413.8M
YoY Change -3.64% 15.36%
Cost Of Revenue $142.9M $91.46M
YoY Change -25.91% -0.29%
Gross Profit $368.0M $322.4M
YoY Change 13.19% 20.74%
Gross Profit Margin 74.1% 77.9%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $51.90M $48.27M
YoY Change 12.87% 34.61%
% of Gross Profit 14.1% 14.97%
Operating Expenses $384.6M $240.1M
YoY Change -1.33% -13.39%
Operating Profit $126.3M $82.29M
YoY Change -1.51% 0.97%
Interest Expense -$30.70M -$30.45M
YoY Change 38.39% 32.7%
% of Operating Profit -24.31% -37.0%
Other Income/Expense, Net -$6.867M $25.15M
YoY Change 11.73% -391.53%
Pretax Income $119.4M $77.00M
YoY Change -2.18% 5.65%
Income Tax $13.77M $8.131M
% Of Pretax Income 11.53% 10.56%
Net Earnings $105.3M $68.57M
YoY Change -1.05% 6.67%
Net Earnings / Revenue 21.2% 16.57%
Basic Earnings Per Share $2.08 $1.35
Diluted Earnings Per Share $2.07 $1.35
COMMON SHARES
Basic Shares Outstanding 50.61M shares 50.61M shares
Diluted Shares Outstanding 50.81M shares 50.76M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $445.5M $134.8M
YoY Change 96.92% -48.73%
Cash & Equivalents $445.5M $134.8M
Short-Term Investments
Other Short-Term Assets $496.0K $292.0M
YoY Change -97.22% 1784.31%
Inventory $152.6M $137.7M
Prepaid Expenses $23.08M $23.83M
Receivables $135.0M $112.7M
Other Receivables $36.20M $56.42M
Total Short-Term Assets $1.038B $733.6M
YoY Change 57.37% 5.81%
LONG-TERM ASSETS
Property, Plant & Equipment $5.554B $5.456B
YoY Change 9.38% 8.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $157.5M $126.8M
YoY Change 42.4% 11.22%
Other Assets $65.42M $1.522B
YoY Change 15.74% 2306.84%
Total Long-Term Assets $7.255B $7.105B
YoY Change 5.7% 5.13%
TOTAL ASSETS
Total Short-Term Assets $1.038B $733.6M
Total Long-Term Assets $7.255B $7.105B
Total Assets $8.294B $7.839B
YoY Change 10.23% 5.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $227.3M $223.7M
YoY Change 23.0% 46.59%
Accrued Expenses $75.80M $79.97M
YoY Change 6.04% 9.31%
Deferred Revenue $103.9M $91.26M
YoY Change 51.03% 35.4%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $488.9M $468.3M
YoY Change 2.84% 4.31%
LONG-TERM LIABILITIES
Long-Term Debt $2.826B $2.482B
YoY Change 36.44% 19.59%
Other Long-Term Liabilities $151.0M $1.166B
YoY Change 121.35% 1611.17%
Total Long-Term Liabilities $2.977B $3.648B
YoY Change 39.14% 70.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $488.9M $468.3M
Total Long-Term Liabilities $2.977B $3.648B
Total Liabilities $3.466B $4.985B
YoY Change 32.54% 92.28%
SHAREHOLDERS EQUITY
Retained Earnings $2.047B $1.982B
YoY Change 5.74% 6.12%
Common Stock $886.2M $884.3M
YoY Change 0.74% 0.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.921B $2.854B
YoY Change
Total Liabilities & Shareholders Equity $8.294B $7.839B
YoY Change 10.23% 5.19%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $105.3M $68.57M
YoY Change -1.05% 6.67%
Depreciation, Depletion And Amortization $51.90M $48.27M
YoY Change 12.87% 34.61%
Cash From Operating Activities $155.2M $97.18M
YoY Change 37.32% 54.36%
INVESTING ACTIVITIES
Capital Expenditures $153.0M $155.8M
YoY Change -237.62% -270.15%
Acquisitions
YoY Change
Other Investing Activities $4.900M $1.149M
YoY Change -80.18% -108.16%
Cash From Investing Activities -$148.1M -$154.6M
YoY Change 71.3% 46.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 303.6M -165.6M
YoY Change -894.33% -366.98%
NET CHANGE
Cash From Operating Activities 155.2M 97.18M
Cash From Investing Activities -148.1M -154.6M
Cash From Financing Activities 303.6M -165.6M
Net Change In Cash 310.7M -223.0M
YoY Change -2765.35% -1253.52%
FREE CASH FLOW
Cash From Operating Activities $155.2M $97.18M
Capital Expenditures $153.0M $155.8M
Free Cash Flow $2.200M -$58.61M
YoY Change -99.02% -137.93%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
4900000 usd
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 usd
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
10335000 usd
us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
4401000 usd
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
0 usd
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
25000000 usd
us-gaap Nature Of Operations
NatureOfOperations
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">IDACORP is a holding company formed in 1998 whose principal operating subsidiary is Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale, and purchase of electric energy and capacity with a service area covering approximately 24,000 square miles in southern Idaho and eastern Oregon. Idaho Power is regulated primarily by the state utility regulatory commissions of Idaho and Oregon and the Federal Energy Regulatory Commission. Idaho Power is the parent of Idaho Energy Resources Co. (IERCo), a joint venturer in Bridger Coal Company (BCC), which mines and supplies coal to the Jim Bridger power plant (Jim Bridger plant) owned in part by Idaho Power.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span></div>IDACORP’s other notable wholly-owned subsidiaries include IDACORP Financial Services, Inc. (IFS), an investor in affordable housing and other real estate tax credit investments, and Ida-West Energy Company (Ida-West), an operator of small hydropower generation projects that satisfy the requirements of the Public Utility Regulatory Policies Act of 1978 (PURPA).
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-7942000 usd
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-12120000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15226000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14317000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.109
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.115
us-gaap Comparability Of Prior Year Financial Data
ComparabilityOfPriorYearFinancialData
In the opinion of management of IDACORP and Idaho Power, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly each company's condensed consolidated balance sheets as of June 30, 2023, condensed consolidated statements of income for the three months and six months ended June 30, 2023 and 2022, and condensed consolidated cash flows for the six months ended June 30, 2023 and 2022. These adjustments are of a normal and recurring nature. These financial statements do not contain the complete detail or note disclosures concerning accounting policies and other matters that would be included in full-year financial statements and should be read in conjunction with the audited consolidated financial statements included in IDACORP’s and Idaho Power’s Annual Report on Form 10-K for the year ended December 31, 2022 (2022 Annual Report). The statements of income for the interim period are not necessarily indicative of the results to be expected for the full year. A change in management's estimates or assumptions could have a material impact on IDACORP's or Idaho Power's respective balance sheets and statements of income during the period in which such change occurred.
us-gaap Use Of Estimates
UseOfEstimates
Management makes estimates and assumptions when preparing financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP). These estimates and assumptions include, among others, those related to rate regulation, retirement benefits, contingencies, asset impairment, income taxes, unbilled revenues, and bad debt. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates involve judgments with respect to, among other things, future economic factors that are difficult to predict and are beyond management's control. Accordingly, actual results could differ from those estimates.
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
36010000 usd
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
32140000 usd
us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-7500000 usd
us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
0 usd
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-5342000 usd
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-5703000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
385229000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
345483000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
770895000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
663665000 usd
CY2023Q2 us-gaap Regulated Operating Revenue Other
RegulatedOperatingRevenueOther
27498000 usd
CY2022Q2 us-gaap Regulated Operating Revenue Other
RegulatedOperatingRevenueOther
12185000 usd
us-gaap Regulated Operating Revenue Other
RegulatedOperatingRevenueOther
71170000 usd
us-gaap Regulated Operating Revenue Other
RegulatedOperatingRevenueOther
37924000 usd
CY2023Q2 us-gaap Regulated Operating Revenue Electric Non Nuclear
RegulatedOperatingRevenueElectricNonNuclear
412727000 usd
CY2022Q2 us-gaap Regulated Operating Revenue Electric Non Nuclear
RegulatedOperatingRevenueElectricNonNuclear
357668000 usd
us-gaap Regulated Operating Revenue Electric Non Nuclear
RegulatedOperatingRevenueElectricNonNuclear
842065000 usd
us-gaap Regulated Operating Revenue Electric Non Nuclear
RegulatedOperatingRevenueElectricNonNuclear
701589000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
385229000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
345483000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
770895000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
663665000 usd
CY2023Q2 us-gaap Regulated Operating Revenue Other
RegulatedOperatingRevenueOther
27498000 usd
CY2022Q2 us-gaap Regulated Operating Revenue Other
RegulatedOperatingRevenueOther
12185000 usd
us-gaap Regulated Operating Revenue Other
RegulatedOperatingRevenueOther
71170000 usd
us-gaap Regulated Operating Revenue Other
RegulatedOperatingRevenueOther
37924000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
5034000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
4499000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
739000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
478000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1917000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1056000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
3856000 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
3921000 usd
CY2023Q2 ida Allowance For Uncollectible Accounts As A Percentage Of Customer Receivables
AllowanceForUncollectibleAccountsAsAPercentageOfCustomerReceivables
0.033
CY2022Q2 ida Allowance For Uncollectible Accounts As A Percentage Of Customer Receivables
AllowanceForUncollectibleAccountsAsAPercentageOfCustomerReceivables
0.043
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
68574000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
64287000 usd
us-gaap Net Income Loss
NetIncomeLoss
124672000 usd
us-gaap Net Income Loss
NetIncomeLoss
110548000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50725000 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50668000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50707000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50650000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
33000 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
19000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
34000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
23000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50758000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50687000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50741000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50673000 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.35
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.27
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.46
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.18
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.35
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.46
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.18
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
CONTINGENCIES<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">IDACORP and Idaho Power have in the past and expect in the future to become involved in various claims, controversies, disputes, and other contingent matters, some of which involve litigation and regulatory or other contested proceedings. The ultimate resolution and outcome of litigation and regulatory proceedings is inherently difficult to determine, particularly where (a) the remedies or penalties sought are indeterminate, (b) the proceedings are in the early stages or the substantive issues have not been well developed, or (c) the matters involve complex or novel legal theories or a large number of parties. In accordance with applicable accounting guidance, IDACORP and Idaho Power, as applicable, establish an accrual for legal proceedings when those matters proceed to a stage where they present loss contingencies that are both probable and reasonably estimable. If the loss contingency at issue is not both probable and reasonably estimable, IDACORP and Idaho Power do not establish an accrual and the matter will continue to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. As of the date of this report, IDACORP's and Idaho Power's accruals for loss contingencies are not material to their financial statements as a whole; however, future accruals could be material in a given period. IDACORP's and Idaho Power's determination is based on currently available information, and estimates presented in financial statements and other financial disclosures involve significant judgment and may be subject to significant uncertainty. For matters that affect Idaho Power's operations, Idaho Power intends to seek, to the extent permissible and appropriate, recovery through the ratemaking process of costs incurred, although there is no assurance that such recovery would be granted.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">IDACORP and Idaho Power are parties to legal claims and legal, tax, and regulatory actions and proceedings in the ordinary course of business and, as noted above, record an accrual for associated loss contingencies when they are probable and reasonably estimable. In connection with its utility operations, Idaho Power is subject to claims by individuals, entities, and governmental agencies for damages for alleged personal injury, property damage, and economic losses, relating to the company’s provision of electric service and the operation of its generation, transmission, and distribution facilities. Some of those claims relate to electrical contacts, service quality, property damage, and wildfires. In recent years, utilities in the western United States have been subject to significant liability for personal injury, loss of life, property damage, trespass, and economic losses, and in some cases, punitive damages and criminal charges, associated with wildfires that originated from utility property, most commonly transmission and distribution lines. Idaho Power has also regularly received claims by governmental agencies and private landowners for damages for fires allegedly originating from Idaho Power’s transmission and distribution system. As of the date of this report, the companies believe that resolution of existing claims will not have a material adverse effect on their respective condensed consolidated financial statements.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Idaho Power is also actively monitoring various pending environmental regulations and executive orders related to environmental matters that may have a significant impact on its future operations. Given uncertainties regarding the outcome, timing, and compliance plans for these environmental matters, Idaho Power is unable to estimate the financial impact of these regulations.</span></div>
CY2023Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
8382000 usd
CY2022Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
13412000 usd
CY2023Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
14702000 usd
CY2022Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
11256000 usd
CY2023Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
15841000 usd
CY2022Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
18722000 usd
CY2023Q2 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
473000 usd
CY2022Q2 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
68000 usd
CY2023Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
203000 usd
CY2022Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-3642000 usd
CY2023Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
7513000 usd
CY2022Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
9656000 usd
CY2023Q2 ida Defined Benefit Plan Regulatory Adjustments Deferred
DefinedBenefitPlanRegulatoryAdjustmentsDeferred
5061000 usd
CY2022Q2 ida Defined Benefit Plan Regulatory Adjustments Deferred
DefinedBenefitPlanRegulatoryAdjustmentsDeferred
6727000 usd
CY2023Q2 ida Defined Benefit Plan Regulated Ipuc Authorizedrecoveredpensioncost
DefinedBenefitPlanRegulatedIPUCAuthorizedrecoveredpensioncost
4289000 usd
CY2022Q2 ida Defined Benefit Plan Regulated Ipuc Authorizedrecoveredpensioncost
DefinedBenefitPlanRegulatedIPUCAuthorizedrecoveredpensioncost
4289000 usd
CY2023Q2 ida Defined Benefit Plan Net Periodic Benefit Cost After Regulatory Adjustments
DefinedBenefitPlanNetPeriodicBenefitCostAfterRegulatoryAdjustments
6741000 usd
CY2022Q2 ida Defined Benefit Plan Net Periodic Benefit Cost After Regulatory Adjustments
DefinedBenefitPlanNetPeriodicBenefitCostAfterRegulatoryAdjustments
7218000 usd
CY2023Q2 ida Net Service Cost Defined Benefit Plan
NetServiceCostDefinedBenefitPlan
5100000 usd
CY2022Q2 ida Net Service Cost Defined Benefit Plan
NetServiceCostDefinedBenefitPlan
5000000 usd
CY2023Q2 ida Otherexpensedefinedbenefitplanbenefitcost
Otherexpensedefinedbenefitplanbenefitcost
1600000 usd
CY2022Q2 ida Otherexpensedefinedbenefitplanbenefitcost
Otherexpensedefinedbenefitplanbenefitcost
2200000 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
16791000 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
27142000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
29460000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
22840000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
31694000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
37350000 usd
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
946000 usd
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
139000 usd
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
333000 usd
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-8236000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
15170000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
21007000 usd
ida Defined Benefit Plan Regulatory Adjustments Deferred
DefinedBenefitPlanRegulatoryAdjustmentsDeferred
10121000 usd
ida Defined Benefit Plan Regulatory Adjustments Deferred
DefinedBenefitPlanRegulatoryAdjustmentsDeferred
15100000 usd
ida Defined Benefit Plan Regulated Ipuc Authorizedrecoveredpensioncost
DefinedBenefitPlanRegulatedIPUCAuthorizedrecoveredpensioncost
8577000 usd
ida Defined Benefit Plan Regulated Ipuc Authorizedrecoveredpensioncost
DefinedBenefitPlanRegulatedIPUCAuthorizedrecoveredpensioncost
8577000 usd
ida Defined Benefit Plan Net Periodic Benefit Cost After Regulatory Adjustments
DefinedBenefitPlanNetPeriodicBenefitCostAfterRegulatoryAdjustments
13626000 usd
ida Defined Benefit Plan Net Periodic Benefit Cost After Regulatory Adjustments
DefinedBenefitPlanNetPeriodicBenefitCostAfterRegulatoryAdjustments
14484000 usd
ida Net Service Cost Defined Benefit Plan
NetServiceCostDefinedBenefitPlan
10400000 usd
ida Net Service Cost Defined Benefit Plan
NetServiceCostDefinedBenefitPlan
9900000 usd
ida Otherexpensedefinedbenefitplanbenefitcost
Otherexpensedefinedbenefitplanbenefitcost
3200000 usd
ida Otherexpensedefinedbenefitplanbenefitcost
Otherexpensedefinedbenefitplanbenefitcost
4600000 usd
us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
DerivativesMethodsOfAccountingNonhedgingDerivatives
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Idaho Power is exposed to market risk relating to electricity, natural gas, and other fuel commodity prices, all of which are heavily influenced by supply and demand. Market risk may be influenced by market participants’ nonperformance of their contractual obligations and commitments, which affects the supply of or demand for the commodity. Idaho Power uses derivative instruments, such as physical and financial forward contracts, for both electricity and fuel to manage the risks relating to these commodity price exposures. The primary objectives of Idaho Power’s energy purchase and sale activity are to meet the demand of retail electric customers, maintain appropriate physical reserves to ensure reliability, and make economic use of temporary surpluses that may develop.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div>All of Idaho Power's derivative instruments have been entered into for the purpose of securing energy resources for future periods or economically hedging forecasted purchases and sales, though none of these instruments have been designated as cash flow hedges. Idaho Power offsets fair value amounts recognized on its balance sheet and applies collateral related to derivative instruments executed with the same counterparty under the same master netting agreement. Idaho Power does not offset a counterparty's current derivative contracts with the counterparty's long-term derivative contracts, although Idaho Power's master netting arrangements would allow current and long-term positions to be offset in the event of default. Also, in the event of default, Idaho Power's master netting arrangements would allow for the offsetting of all transactions executed under the master netting arrangement. These types of transactions may include non-derivative instruments, derivatives qualifying for scope exceptions, receivables and payables arising from settled positions, and other forms of non-cash collateral (such as letters of credit).
us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
Settlement gains and losses on electricity swap contracts are recorded on the income statement in operating revenues or purchased power depending on the forecasted position being economically hedged by the derivative contract. Settlement gains and losses on contracts for natural gas are reflected in fuel expense. Settlement gains and losses on diesel derivatives are recorded in other O&amp;M expense.
CY2023Q2 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
33700000 usd
CY2023Q2 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
44400000 usd
CY2023Q2 us-gaap Additional Collateral Aggregate Fair Value
AdditionalCollateralAggregateFairValue
9200000 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
5513000 usd
CY2023Q2 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
4860000 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
653000 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
33780000 usd
CY2023Q2 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
24102000 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
9678000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
74346000 usd
CY2022Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
33428000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
40918000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
21589000 usd
CY2022Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
14801000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
6788000 usd
CY2022Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
18600000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
7998000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
16505000 usd
CY2023Q2 us-gaap Derivative Assets
DerivativeAssets
653000 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
40918000 usd
CY2023Q2 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
31617000 usd
CY2022Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
34129000 usd
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
9678000 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
6788000 usd
CY2023Q2 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
413838000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
68574000 usd
CY2023Q2 us-gaap Assets
Assets
7839068000 usd
CY2022Q2 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
358723000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
64287000 usd
us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
843497000 usd
us-gaap Net Income Loss
NetIncomeLoss
124672000 usd
us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
703011000 usd
us-gaap Net Income Loss
NetIncomeLoss
110548000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
55000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
69000 usd
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
110000 usd
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
139000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-143000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-1058000 usd
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-285000 usd
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-2115000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
198000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
1127000 usd
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
395000 usd
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
2254000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-51000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-290000 usd
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-102000 usd
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-580000 usd
CY2023Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-147000 usd
CY2022Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-837000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-293000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1674000 usd
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001057877-23-000045-index-headers.html Edgar Link pending
0001057877-23-000045-index.html Edgar Link pending
0001057877-23-000045.txt Edgar Link pending
0001057877-23-000045-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
ida-20230630.htm Edgar Link pending
ida-20230630.xsd Edgar Link pending
ida63023ex151.htm Edgar Link pending
ida63023ex152.htm Edgar Link pending
ida63023ex311.htm Edgar Link pending
ida63023ex312.htm Edgar Link pending
ida63023ex313.htm Edgar Link pending
ida63023ex314.htm Edgar Link pending
ida63023ex321.htm Edgar Link pending
ida63023ex322.htm Edgar Link pending
ida63023ex323.htm Edgar Link pending
ida63023ex324.htm Edgar Link pending
ida63023ex951-minesafety.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
ida-20230630_def.xml Edgar Link unprocessable
ida-20230630_lab.xml Edgar Link unprocessable
ida-20230630_pre.xml Edgar Link unprocessable
ida-20230630_htm.xml Edgar Link completed
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
ida-20230630_cal.xml Edgar Link unprocessable