FAIR VALUE MEASUREMENTS: Fair Value Measurements Level 3 (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents information about IDACORP’s and Idaho Power’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2022 (in thousands of dollars):


	December 31, 2023								December 31, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds and commercial paper
IDACORP(1)	$	32,472	$	—	$	—	$	32,472	$	16,505	$	—	$	—	$	16,505
Idaho Power	230,600		—		—		230,600		34,468		—		—		34,468
Derivatives	89		—		—		89		40,518		400		—		40,918

Equity securities	37,320		—		—		37,320		34,129		—		—		34,129
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)	—		—		—		3,751		—		—		—		2,796
Liabilities:
Derivatives	$	3,932	$	2,000	$	—	$	5,932	$	2,937	$	3,851	$	—	$	6,788

(1) Holding company only. Does not include amounts held by Idaho Power.

Fair Value, by Balance Sheet Grouping

The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value, as of December 31, 2023 and 2022, using available market information and appropriate valuation methodologies (in thousands of dollars).


	December 31, 2023				December 31, 2022
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
	(thousands of dollars)
IDACORP
Assets:
Notes receivable(1)	$	3,038	$	3,038	$	3,871	$	3,871
Held-to-maturity securities(1)	31,639		28,341		30,475		25,452
Liabilities:
Long-term debt (including current portion)(1)	2,825,590		2,684,278		2,194,145		1,953,470
Idaho Power
Assets:
Held-to-maturity securities(1)	$	31,639	$	28,341	$	30,475	$	25,452
Liabilities:
Long-term debt (including current portion)(1)	2,825,590		2,684,278		2,194,145		1,953,470

(1) Notes receivable are categorized as Level 3 and held-to-maturity securities and long-term debt are categorized as Level 2 of the fair value hierarchy, as defined earlier in this Note 16 - "Fair Value Measurements."