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INCOME TAXES: Income Taxes Level 3 (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Effective Income Tax Rate Reconciliation |
|  | IDACORP |
|  | 2025 |  | 2024 |  | 2023 |
Income before income taxes(1) |  | $ | 309,757 |  |  |  |  | $ | 304,227 |  |  |  |  | $ | 288,491 |  |  |  |
US federal income tax expense at statutory rate |  | 65,049 |  |  | 21.0 | % |  | 63,888 |  |  | 21.0 | % |  | 60,583 |  |  | 21.0 | % |
State income taxes, net of federal income tax effect(2) |  | 12,480 |  |  | 4.0 | % |  | 14,420 |  |  | 4.7 | % |  | 13,675 |  |  | 4.7 | % |
Flow-through accounting and other effects of rate regulation: |  |  |  |  |  |  |  |  |  |  |  |  |
AFUDC |  | (20,727) |  |  | (6.7) | % |  | (17,015) |  |  | (5.6) | % |  | (13,279) |  |  | (4.6) | % |
Capitalized interest |  | 7,721 |  |  | 2.5 | % |  | 5,493 |  |  | 1.8 | % |  | 3,097 |  |  | 1.1 | % |
Removal costs |  | (5,707) |  |  | (1.8) | % |  | (5,109) |  |  | (1.7) | % |  | (6,312) |  |  | (2.2) | % |
Capitalized overhead costs |  | (2,100) |  |  | (0.7) | % |  | (2,100) |  |  | (0.7) | % |  | (2,100) |  |  | (0.7) | % |
Capitalized repair costs |  | (24,150) |  |  | (7.8) | % |  | (19,320) |  |  | (6.4) | % |  | (24,360) |  |  | (8.4) | % |
Depreciation |  | 22,001 |  |  | 7.1 | % |  | 18,705 |  |  | 6.1 | % |  | 18,041 |  |  | 6.3 | % |
Excess deferred income tax reversal |  | (9,723) |  |  | (3.1) | % |  | (10,047) |  |  | (3.3) | % |  | (10,684) |  |  | (3.7) | % |
Income tax return adjustments |  | (8,046) |  |  | (2.6) | % |  | 1,844 |  |  | 0.6 | % |  | (8,229) |  |  | (2.9) | % |
State related |  | 324 |  |  | 0.1 | % |  | 6,043 |  |  | 2.0 | % |  | 2,127 |  |  | 0.7 | % |
Other, net |  | (808) |  |  | (0.3) | % |  | 776 |  |  | 0.3 | % |  | 1,874 |  |  | 0.6 | % |
Tax credits: |  |  |  |  |  |  |  |  |  |  |  |  |
Investment tax credits - federal |  | (7,208) |  |  | (2.3) | % |  | (4,480) |  |  | (1.5) | % |  | (2,344) |  |  | (0.8) | % |
Investment tax credits - Idaho |  | — |  |  | — | % |  | (3,791) |  |  | (1.2) | % |  | (3,107) |  |  | (1.1) | % |
Accumulated deferred investment tax credits - federal |  | (7,017) |  |  | (2.3) | % |  | (8,712) |  |  | (2.9) | % |  | — |  |  | — | % |
Accumulated deferred investment tax credits - Idaho |  | (33,319) |  |  | (10.8) | % |  | (21,119) |  |  | (6.9) | % |  | — |  |  | — | % |
Real estate-related tax credits - federal |  | (7,790) |  |  | (2.5) | % |  | (7,499) |  |  | (2.5) | % |  | (6,869) |  |  | (2.4) | % |
Nontaxable or nondeductible items |  | (229) |  |  | (0.1) | % |  | (516) |  |  | (0.2) | % |  | 120 |  |  | — | % |
Other Items: |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate-related investment distributions |  | (670) |  |  | (0.2) | % |  | (1,611) |  |  | (0.5) | % |  | (507) |  |  | (0.2) | % |
Real estate-related investment amortization |  | 6,204 |  |  | 2.0 | % |  | 5,203 |  |  | 1.7 | % |  | 5,570 |  |  | 1.9 | % |
Total income tax (benefit) expense and effective tax rate |  | $ | (13,715) |  |  | (4.4) | % |  | $ | 15,053 |  |  | 4.9 | % |  | $ | 27,296 |  |  | 9.5 | % |
(1) Net of adjustment for income attributable to noncontrolling interests. (2) State taxes in Idaho made up the majority (greater than 50%) of the tax effect in this category.
|  | Idaho Power
|  | 2025 |  | 2024 |  | 2023
Income before income taxes |  | $ | 302,685 |  |  |  |  | $ | 298,286 |  |  |  |  | $ | 285,736 |  |  |
US federal income tax expense at statutory rate |  | 63,564 |  |  | 21.0 | % |  | 62,640 |  |  | 21.0 | % |  | 60,005 |  |  | 21.0 | %
State income taxes, net of federal income tax effect(1) |  | 12,195 |  |  | 4.0 | % |  | 14,139 |  |  | 4.7 | % |  | 13,544 |  |  | 4.7 | %
Flow-through accounting and other effects of rate regulation: |  |  |  |  |  |  |  |  |  |  |  |
AFUDC |  | (20,727) |  |  | (6.8) | % |  | (17,015) |  |  | (5.7) | % |  | (13,279) |  |  | (4.6) | %
Capitalized interest |  | 7,721 |  |  | 2.6 | % |  | 5,493 |  |  | 1.8 | % |  | 3,097 |  |  | 1.1 | %
Removal costs |  | (5,707) |  |  | (1.9) | % |  | (5,109) |  |  | (1.7) | % |  | (6,312) |  |  | (2.2) | %
Capitalized overhead costs |  | (2,100) |  |  | (0.7) | % |  | (2,100) |  |  | (0.7) | % |  | (2,100) |  |  | (0.7) | %
Capitalized repair costs |  | (24,150) |  |  | (8.0) | % |  | (19,320) |  |  | (6.5) | % |  | (24,360) |  |  | (8.5) | %
Depreciation |  | 22,001 |  |  | 7.3 | % |  | 18,705 |  |  | 6.3 | % |  | 18,041 |  |  | 6.3 | %
Excess deferred income tax reversal |  | (9,723) |  |  | (3.2) | % |  | (10,047) |  |  | (3.4) | % |  | (10,684) |  |  | (3.7) | %
Income tax return adjustments |  | (8,581) |  |  | (2.8) | % |  | 1,794 |  |  | 0.6 | % |  | (7,732) |  |  | (2.7) | %
State related |  | 684 |  |  | 0.2 | % |  | 6,361 |  |  | 2.1 | % |  | 2,537 |  |  | 0.9 | %
Other, net |  | (577) |  |  | (0.2) | % |  | 759 |  |  | 0.3 | % |  | 1,499 |  |  | 0.5 | %
Tax credits: |  |  |  |  |  |  |  |  |  |  |  |
Investment tax credits - federal |  | (7,208) |  |  | (2.4) | % |  | (4,480) |  |  | (1.5) | % |  | (2,344) |  |  | (0.8) | %
Investment tax credits - Idaho |  | — |  |  | — | % |  | (3,791) |  |  | (1.3) | % |  | (3,107) |  |  | (1.1) | %
Accumulated deferred investment tax credits - federal |  | (7,017) |  |  | (2.3) | % |  | (8,712) |  |  | (2.9) | % |  | — |  |  | — | %
Accumulated deferred investment tax credits - Idaho |  | (33,319) |  |  | (11.0) | % |  | (21,119) |  |  | (7.1) | % |  | — |  |  | — | %
Nontaxable or nondeductible items |  | (233) |  |  | (0.1) | % |  | (517) |  |  | (0.2) | % |  | 121 |  |  | — | %
Total income tax (benefit) expense and effective tax rate |  | $(13,177) |  | (4.4) | % |  | $17,681 |  | 5.9 | % |  | $28,926 |  | 10.1 | %
(1) State taxes in Idaho made up the majority (greater than 50%) of the tax effect in this category.
Schedule of Components of Income Tax Expense | The items comprising income tax expense for the years ended December 31 are presented below (in thousands of dollars):
|  | IDACORP |  | Idaho Power
|  | 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023
Income taxes current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 13,684 |  |  | $ | 19,252 |  |  | $ | (13,253) |  |  | $ | 27,816 |  |  | $ | 20,447 |  |  | $ | (4,757) |
State |  | 5,754 |  |  | 15,750 |  |  | 5,634 |  |  | 8,128 |  |  | 12,674 |  |  | 3,627 |
Total |  | 19,438 |  |  | 35,002 |  |  | (7,619) |  |  | 35,944 |  |  | 33,121 |  |  | (1,130) |
Income taxes deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | (28,931) |  |  | (73,565) |  |  | (18,419) |  |  | (35,697) |  |  | (67,549) |  |  | (19,086) |
State |  | (16,431) |  |  | (15,608) |  |  | (3,269) |  |  | (18,826) |  |  | (12,735) |  |  | (1,051) |
Total |  | (45,362) |  |  | (89,173) |  |  | (21,688) |  |  | (54,523) |  |  | (80,284) |  |  | (20,137) |
Investment tax credits: |  |  |  |  |  |  |  |  |  |  |  |
Deferred |  | 52,946 |  |  | 102,946 |  |  | 55,644 |  |  | 52,946 |  |  | 102,946 |  |  | 55,644 |
Restored |  | (47,544) |  |  | (38,102) |  |  | (5,451) |  |  | (47,544) |  |  | (38,102) |  |  | (5,451) |
Total |  | 5,402 |  |  | 64,844 |  |  | 50,193 |  |  | 5,402 |  |  | 64,844 |  |  | 50,193 |
Real estate-related investments at IFS |  | 6,807 |  |  | 4,380 |  |  | 6,410 |  |  | — |  |  | — |  |  | — |
Total income tax (benefit) expense |  | $ | (13,715) |  |  | $ | 15,053 |  |  | $ | 27,296 |  |  | $ | (13,177) |  |  | $ | 17,681 |  |  | $ | 28,926 |
Schedule of Deferred Tax Assets and Liabilities | The components of the net deferred tax liability as of December 31 are presented below (in thousands of dollars):
|  | IDACORP |  | Idaho Power
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Deferred tax assets: |  |  |  |  |  |  |  |
Regulatory liabilities |  | $ | 121,489 |  |  | $ | 127,634 |  |  | $ | 121,489 |  |  | $ | 127,634 |
Deferred compensation |  | 24,483 |  |  | 24,782 |  |  | 24,483 |  |  | 24,782 |
Deferred revenue |  | 70,326 |  |  | 64,592 |  |  | 70,326 |  |  | 64,592 |
Tax credits |  | 70,854 |  |  | 66,783 |  |  | 67,930 |  |  | 53,859 |
Partnership investments |  | 24,157 |  |  | 18,450 |  |  | 24,157 |  |  | 18,450 |
Retirement benefits |  | 19,533 |  |  | 26,495 |  |  | 19,533 |  |  | 26,495 |
Other |  | 37,884 |  |  | 24,869 |  |  | 37,831 |  |  | 24,826 |
Total |  | 368,726 |  |  | 353,605 |  |  | 365,749 |  |  | 340,638 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Property, plant and equipment |  | 235,849 |  |  | 243,454 |  |  | 235,849 |  |  | 243,454 |
Regulatory assets |  | 821,346 |  |  | 811,054 |  |  | 821,346 |  |  | 811,054 |
Partnership investments |  | 4,309 |  |  | 4,613 |  |  | — |  |  | — |
Retirement benefits |  | 65,214 |  |  | 75,716 |  |  | 65,214 |  |  | 75,716 |
Wildfire mitigation plan deferral |  | 22,252 |  |  | 16,272 |  |  | 22,252 |  |  | 16,272 |
Other |  | 22,641 |  |  | 24,727 |  |  | 22,027 |  |  | 23,588 |
Total |  | 1,171,611 |  |  | 1,175,836 |  |  | 1,166,688 |  |  | 1,170,084 |
Net deferred tax liabilities |  | $ | 802,885 |  |  | $ | 822,231 |  |  | $ | 800,939 |  |  | $ | 829,446 |
Schedule of Cash Flow, Supplemental Disclosures | Supplemental cash flow information related to cash paid for income taxes for the years ended December 31 are presented below (in thousands of dollars):
|  | IDACORP
|  | 2025 |  | 2024 |  | 2023
Federal |  | $ | 18,000 |  |  | $ | 14,000 |  |  | $ | — |
Idaho |  | 5,600 |  |  | 10,300 |  |  | 5,300 |
Other |  | 892 |  |  | 900 |  |  | 900 |
Total cash paid for income taxes |  | $ | 24,492 |  |  | $ | 25,200 |  |  | $ | 6,200 |
|  | Idaho Power
|  | 2025 |  | 2024 |  | 2023
Federal |  | $ | 18,382 |  |  | $ | 30,615 |  |  | $ | 34,604 |
Idaho |  | 7,522 |  |  | 5,598 |  |  | 15,765 |
Other |  | 841 |  |  | 905 |  |  | 1,446 |
Total cash paid to IDACORP related to income taxes |  | $ | 26,745 |  |  | $ | 37,118 |  |  | $ | 51,815 |

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