SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Tables)

12 Months Ended

Dec. 31, 2025

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.