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SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT | 12 Months Ended
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Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract] |
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT | CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
|  | Year Ended December 31,
|  | 2025 |  | 2024 |  | 2023
|  | (thousands of dollars)
Income: |  |  |  |  |  |
Equity in income of subsidiaries |  | $ | 321,927 |  |  | $ | 289,689 |  |  | $ | 262,081 |
Investment income |  | 7,539 |  |  | 3,976 |  |  | 1,932 |
Total income |  | 329,466 |  |  | 293,665 |  |  | 264,013 |
Expenses: |  |  |  |  |  |
Operating expenses |  | 930 |  |  | 621 |  |  | 553 |
Interest expense |  | 3,307 |  |  | 3,593 |  |  | 3,171 |
Other expenses |  | 2,000 |  |  | 1,300 |  |  | 200 |
Total expenses |  | 6,237 |  |  | 5,514 |  |  | 3,924 |
Income Before Income Taxes |  | 323,229 |  |  | 288,151 |  |  | 260,089 |
Income Tax Benefit |  | (243) |  |  | (1,023) |  |  | (1,106) |
Net Income Attributable to IDACORP, Inc. |  | 323,472 |  |  | 289,174 |  |  | 261,195 |
Other comprehensive (loss) income |  | (1,352) |  |  | 3,592 |  |  | (4,262) |
Comprehensive Income Attributable to IDACORP, Inc. |  | $ | 322,120 |  |  | $ | 292,766 |  |  | $ | 256,933 |
The accompanying note is an integral part of these statements.
IDACORP, INC. CONDENSED STATEMENTS OF CASH FLOWS
|  | Year Ended December 31,
|  | 2025 |  | 2024 |  | 2023
|  | (thousands of dollars)
Operating Activities: |  |  |  |  |  |
Net cash provided by operating activities |  | $ | 215,505 |  |  | $ | 194,597 |  |  | $ | 154,190 |
Investing Activities: |  |  |  |  |  |
Contributions to subsidiaries |  | (195,000) |  |  | (200,000) |  |  | — |
Purchase of investments |  | (2,419) |  |  | (651) |  |  | (1,002) |
Maturities of investments |  | 385 |  |  | — |  |  | — |
Net cash used in investing activities |  | (197,034) |  |  | (200,651) |  |  | (1,002) |
Financing Activities: |  |  |  |  |  |
Issuance of common stock |  | 97,777 |  |  | 298,450 |  |  | — |
Dividends on common stock |  | (187,633) |  |  | (175,615) |  |  | (162,646) |
Change in intercompany notes payable |  | (7,952) |  |  | 11,430 |  |  | (282) |
Other |  | (3,625) |  |  | (4,015) |  |  | (3,533) |
Net cash (used in) provided by financing activities |  | (101,433) |  |  | 130,250 |  |  | (166,461) |
Net (decrease) increase in cash and cash equivalents |  | (82,962) |  |  | 124,196 |  |  | (13,273) |
Cash and cash equivalents at beginning of year |  | 178,094 |  |  | 53,898 |  |  | 67,171 |
Cash and cash equivalents at end of year |  | $ | 95,132 |  |  | $ | 178,094 |  |  | $ | 53,898 |
The accompanying note is an integral part of these statements.
IDACORP, INC. CONDENSED BALANCE SHEETS
|  | December 31,
|  | 2025 |  | 2024
Assets |  | (thousands of dollars)
Current Assets: |  |  |  |
Cash and cash equivalents |  | $ | 95,132 |  |  | $ | 178,094 |
Receivables |  | 1,923 |  |  | 2,646 |
Income taxes receivable |  | 7,091 |  |  | 2,350 |
Other |  | 103 |  |  | 107 |
Total current assets |  | 104,249 |  |  | 183,197 |
Investments |  | 3,534,519 |  |  | 3,210,209 |
Other Assets: |  |  |  |
Deferred income taxes |  | 2,363 |  |  | 11,829 |
Other |  | 381 |  |  | 397 |
Total other assets |  | 2,744 |  |  | 12,226 |
Total assets |  | $ | 3,641,512 |  |  | $ | 3,405,632 |
Liabilities and Shareholders’ Equity |  |  |  |
Noncurrent Liabilities: |  |  |  |
Intercompany notes payable |  | $ | 69,291 |  |  | $ | 74,272 |
Other |  | 347 |  |  | 406 |
Total noncurrent liabilities |  | 69,638 |  |  | 74,678 |
IDACORP, Inc. Shareholders’ Equity |  | 3,571,874 |  |  | 3,330,954 |
Total Liabilities and Shareholders' Equity |  | $ | 3,641,512 |  |  | $ | 3,405,632 |
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 2025 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 $193 million, $177 million, and $105 million in 2025, 2024, and 2023, respectively.

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