SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME


	Year Ended December 31,
	2023		2022		2021
	(thousands of dollars)
Income:
Equity in income of subsidiaries	$	262,081	$	258,540	$	245,591
Investment income	1,932		1,795		148
Total income	264,013		260,335		245,739
Expenses:
Operating expenses	553		444		679
Interest expense	3,171		1,267		82
Other expenses	200		250		192
Total expenses	3,924		1,961		953
Income Before Income Taxes	260,089		258,374		244,786
Income Tax Benefit	(1,106)		(608)		(764)
Net Income Attributable to IDACORP, Inc.	261,195		258,982		245,550
Other comprehensive (loss) income	(4,262)		27,118		3,318
Comprehensive Income Attributable to IDACORP, Inc.	$	256,933	$	286,100	$	248,868

The accompanying note is an integral part of these statements.

IDACORP, INC.

CONDENSED STATEMENTS OF CASH FLOWS


	Year Ended December 31,
	2023		2022		2021
	(thousands of dollars)
Operating Activities:
Net cash provided by operating activities	$	154,190	$	77,048	$	174,209
Investing Activities:

Purchase of investments	(1,002)		(26,620)		(26,363)
Maturities of investments	—		25,000		50,000
Net cash (used in) provided by investing activities	(1,002)		(1,620)		23,637
Financing Activities:
Dividends on common stock	(162,646)		(154,287)		(146,119)

Change in intercompany notes payable	(282)		(3,811)		(2,167)
Other	(3,533)		(3,184)		(3,124)
Net cash used in financing activities	(166,461)		(161,282)		(151,410)
Net (decrease) increase in cash and cash equivalents	(13,273)		(85,854)		46,436
Cash and cash equivalents at beginning of year	67,171		153,025		106,589
Cash and cash equivalents at end of year	$	53,898	$	67,171	$	153,025

The accompanying note is an integral part of these statements.

IDACORP, INC.

CONDENSED BALANCE SHEETS


	December 31,
	2023		2022
Assets	(thousands of dollars)
Current Assets:
Cash and cash equivalents	$	53,898	$	67,171

Receivables	16,397		56,446
Income taxes receivable	1,551		1,098

Other	107		98
Total current assets	71,953		124,813
Investments	2,893,353		2,739,616
Other Assets:
Deferred income taxes	1,919		131
Other	422		286
Total other assets	2,341		417
Total assets	$	2,967,647	$	2,864,846
Liabilities and Shareholders’ Equity






Noncurrent Liabilities:
Intercompany notes payable	$	59,598	$	57,048
Other	480		559
Total noncurrent liabilities	60,078		57,607
IDACORP, Inc. Shareholders’ Equity	2,907,569		2,807,239
Total Liabilities and Shareholders' Equity	$	2,967,647	$	2,864,846

The accompanying note is an integral part of these statements.

BASIS OF PRESENTATION

Pursuant to rules and regulations of the SEC, the unconsolidated condensed financial statements of IDACORP do not reflect all of the information and notes normally included with financial statements prepared in accordance with GAAP. Therefore, these financial statements should be read in conjunction with the consolidated financial statements and related notes included in the 2023 Form 10-K, Part II, Item 8.

Accounting for Subsidiaries: IDACORP has accounted for the earnings of its subsidiaries under the equity method of accounting in these unconsolidated condensed financial statements. Included in net cash provided by operating activities in the condensed statements of cash flows are dividends that IDACORP subsidiaries paid to IDACORP of $105 million, $117 million, and $149 million in 2023, 2022, and 2021, respectively.