IDAHO POWER CO, 10-Q filed on 8/3/2023
Quarterly Report
v3.23.2
Cover - shares
 6 Months Ended
Jun. 30, 2023
Jul. 28, 2023
Document Information    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2023  
Document Transition Report false  
Entity File Number 1-14465  
Entity Registrant Name IDACORP, Inc.  
Entity Tax Identification Number 82-0505802  
Entity Address, Address Line One 1221 W. Idaho Street  
Entity Address, City or Town Boise,  
Entity Address, State or Province ID  
Entity Address, Postal Zip Code 83702-5627  
City Area Code (208)  
Local Phone Number 388-2200  
Entity Current Reporting Status Yes  
Entity Incorporation, State or Country Code ID  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Title of 12(b) Security Common Stock  
Trading Symbol IDA  
Security Exchange Name NYSE  
Entity Common Stock, Shares Outstanding   50,614,789
Entity Central Index Key 0001057877  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Entity Information, Former Legal or Registered Name None  
Idaho Power Company [Member]    
Document Information    
Entity File Number 1-3198  
Entity Registrant Name Idaho Power Company  
Entity Tax Identification Number 82-0130980  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   39,150,812
Entity Central Index Key 0000049648  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q2  
Amendment Flag false  
v3.23.2
Consolidated Statements of Income Statement - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Operating Revenues:        
Electric utility revenues $ 412,727 $ 357,668 $ 842,065 $ 701,589
Other 1,111 1,055 1,432 1,422
Total operating revenues 413,838 358,723 843,497 703,011
Operating Expenses:        
Purchased power 91,460 91,727 262,554 177,151
Fuel expense 31,113 34,417 120,194 80,119
Power cost adjustment 49,629 (426) (1,708) (825)
Other operations and maintenance 97,123 100,556 189,164 192,642
Energy efficiency programs 6,552 6,609 11,767 13,198
Depreciation 47,108 34,830 92,499 79,287
Other electric utility operating expenses 7,846 8,865 16,871 17,765
Total electric utility operating expenses 330,831 276,578 691,341 559,337
Other 713 639 1,758 1,500
Total operating expenses 331,544 277,217 693,099 560,837
Operating Income 82,294 81,506 150,398 142,174
Nonoperating (Income) Expense:        
Allowance for equity funds used during construction (11,173) (9,287) (21,081) (18,410)
Earnings of unconsolidated equity-method investments (2,739) (2,288) (5,192) (4,596)
Interest on long-term debt 28,579 21,374 53,547 42,443
Other interest 4,609 3,860 9,363 7,675
Allowance for borrowed funds used during construction (5,161) (3,481) (9,389) (6,865)
Other income, net (8,816) (1,551) (16,964) (3,163)
Total nonoperating expense, net 5,299 8,627 10,284 17,084
Income Before Income Taxes 76,995 72,879 140,114 125,090
Income Tax Expense 8,131 8,291 15,226 14,317
Net Income 68,864 64,588 124,888 110,773
Income attributable to noncontrolling interests (290) (301) (216) (225)
Net Income Attributable to IDACORP, Inc. $ 68,574 $ 64,287 $ 124,672 $ 110,548
Weighted-average common shares outstanding - basic (in shares) 50,725 50,668 50,707 50,650
Weighted-average common shares outstanding - diluted (in shares) 50,758 50,687 50,741 50,673
Earnings Per Share of Common Stock:        
Earnings attributable to IDACORP, Inc. - basic (in dollars per share) $ 1.35 $ 1.27 $ 2.46 $ 2.18
Earnings attributable to IDACORP, Inc. - diluted (in dollars per share) $ 1.35 $ 1.27 $ 2.46 $ 2.18
v3.23.2
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Statement of Comprehensive Income [Abstract]        
Net income $ 68,864 $ 64,588 $ 124,888 $ 110,773
Other Comprehensive Income:        
Unfunded pension liability adjustment, net of tax of $51, $290, $102, and $580, respectively 147 837 293 1,674
Total Comprehensive Income 69,011 65,425 125,181 112,447
Income attributable to noncontrolling interests (290) (301) (216) (225)
Comprehensive Income Attributable to IDACORP, Inc. $ 68,721 $ 65,124 $ 124,965 $ 112,222
v3.23.2
Consolidated Balance Sheets Statement - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current Assets:    
Cash and cash equivalents $ 134,779 $ 177,577
Receivables:    
Customer 112,730 114,173
Other 56,419 51,179
Income taxes receivable 0 13,734
Accrued unbilled revenues 93,000 84,862
Materials and supplies (at average cost) 121,215 92,461
Fuel stock (at average cost) 16,498 14,762
Prepayments 23,832 24,517
Current regulatory assets 174,848 80,049
Other 313 40,339
Total current assets 733,634 693,653
Investments 126,839 121,352
Property, Plant and Equipment:    
Utility plant in service 6,984,783 6,828,467
Accumulated provision for depreciation (2,544,166) (2,465,279)
Utility plant in service - net 4,440,617 4,363,188
Construction work in progress 990,181 785,706
Utility plant held for future use 8,860 7,130
Other property, net of accumulated depreciation 16,466 16,946
Property, plant and equipment - net 5,456,124 5,172,970
Other Assets:    
Company-owned life insurance 77,999 73,944
Regulatory assets 1,381,398 1,421,912
Other 63,074 59,427
Total other assets 1,522,471 1,555,283
Total assets 7,839,068 7,543,258
Current Liabilities:    
Accounts payable 223,653 292,719
Taxes accrued 30,640 8,565
Interest accrued 32,026 24,060
Accrued compensation 47,948 59,265
Current regulatory liabilities 6,405 63,957
Advances from customers 91,262 72,222
Other 36,404 27,777
Total current liabilities 468,338 548,565
Other Liabilities:    
Deferred Income Tax 861,478 873,916
Regulatory liabilities 803,547 796,644
Pension and other postretirement benefits 238,777 238,037
Other 123,221 77,336
Total other liabilities 2,027,023 1,985,933
Long-Term Debt 2,482,352 2,194,145
Commitments and Contingencies
Equity:    
Common stock 884,309 882,189
Retained earnings 1,982,083 1,937,972
Accumulated other comprehensive loss (12,629) (12,922)
Total IDACORP, Inc. shareholders’ equity 2,853,763 2,807,239
Noncontrolling interests 7,592 7,376
Total equity 2,861,355 2,814,615
Total $ 7,839,068 $ 7,543,258
v3.23.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities:    
Net income $ 124,888 $ 110,773
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 94,677 81,351
Deferred income taxes and investment tax credits (15,209) (16,953)
Changes in regulatory assets and liabilities (8,255) 8,658
Pension and postretirement benefit plan expense 13,626 14,484
Contributions to pension and postretirement benefit plans (13,818) (12,122)
Earnings of unconsolidated equity-method investments (5,192) (4,596)
Distributions from equity-method investments 0 4,265
Allowance for equity funds used during construction (21,081) (18,410)
Other non-cash adjustments to net income, net 3,550 5,953
Change in:    
Accounts receivable (28,539) (31,690)
Prepayments (2,762) 743
Materials, supplies, and fuel stock (30,490) 858
Accounts and wages payable (138,469) (23,439)
Taxes accrued/receivable 35,809 31,253
Other assets and liabilities (1,956) 4,827
Net cash provided by operating activities 6,779 155,955
Investing Activities:    
Additions to property, plant and equipment (274,167) (194,094)
Payments received from transmission project joint funding partners 8,953 5,531
Investments in affordable housing 135 (2,665)
Investments in unconsolidated affiliates (4,900) 0
Distributions from equity-method investments, return of investment 0 10,335
Purchases of equity securities (1,926) (27,942)
Purchases of held-to-maturity securities (733) (29,692)
Proceeds from the sale of equity securities 4,401 52,833
Purchases of short-term investments 0 (25,000)
Other 4,438 6,767
Net cash used in investing activities (263,799) (203,927)
Financing Activities:    
Issuance of long-term debt 522,000 150,000
Discount on issuance of long-term debt (3,772) 0
Retirement of long-term debt 225,000 0
Dividends on common stock (80,538) (76,339)
Tax withholdings on net settlements of share-based awards 3,255 2,958
Other 4,787 (88)
Net cash provided by financing activities 214,222 70,615
Net (decrease) increase in cash and cash equivalents (42,798) 22,643
Cash and cash equivalents at beginning of the period 177,577 215,243
Cash and cash equivalents at end of the period 134,779 237,886
Supplemental Disclosure of Cash Flow Information:    
Income taxes 0 6,265
Interest (net of amount capitalized) 43,927 41,657
Non-cash investing activities:    
Additions to property, plant and equipment in accounts payable $ 137,717 $ 70,063
v3.23.2
Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Common Stock
Retained Earnings
Accumulated Other Comprehensive Loss
Noncontrolling Interests
Beginning balance at Dec. 31, 2021   $ 874,896 $ 1,833,580 $ (40,040) $ 6,798
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Share-based compensation expense   5,364      
Tax withholdings on net settlements of share-based awards   (2,958)      
Other   60      
Retained Earnings          
Net Income Attributable to IDACORP, Inc. $ 110,548   110,548    
Common stock dividends     (76,317)    
Accumulated Other Comprehensive (Loss) Income          
Unfunded pension liability adjustment (net of tax) 1,674     1,674  
Noncontrolling Interest [Abstract]          
Net income attributable to noncontrolling interests 225       225
Ending balance at Jun. 30, 2022   877,362 1,867,811 (38,366) 7,023
Beginning balance at Mar. 31, 2022   875,067 1,841,644 (39,203) 6,722
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Share-based compensation expense   2,262      
Tax withholdings on net settlements of share-based awards   0      
Other   33      
Retained Earnings          
Net Income Attributable to IDACORP, Inc. 64,287   64,287    
Common stock dividends     (38,120)    
Accumulated Other Comprehensive (Loss) Income          
Unfunded pension liability adjustment (net of tax) 837     837  
Noncontrolling Interest [Abstract]          
Net income attributable to noncontrolling interests 301       (301)
Ending balance at Jun. 30, 2022   877,362 1,867,811 (38,366) 7,023
Accumulated Other Comprehensive (Loss) Income          
Total IDACORP, Inc. shareholders’ equity     2,713,830 2,706,807  
Total IDACORP, Inc. shareholders’ equity 2,807,239        
Beginning balance at Dec. 31, 2022 2,814,615 882,189 1,937,972 (12,922) 7,376
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Share-based compensation expense   5,304      
Tax withholdings on net settlements of share-based awards   (3,255)      
Other   71      
Retained Earnings          
Net Income Attributable to IDACORP, Inc. 124,672   124,672    
Common stock dividends     (80,561)    
Accumulated Other Comprehensive (Loss) Income          
Unfunded pension liability adjustment (net of tax) 293     293  
Noncontrolling Interest [Abstract]          
Net income attributable to noncontrolling interests 216       216
Ending balance at Jun. 30, 2023 2,861,355 884,309 1,982,083 (12,629) 7,592
Beginning balance at Mar. 31, 2023   882,104 1,953,727 (12,776) 7,302
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Share-based compensation expense   2,167      
Tax withholdings on net settlements of share-based awards   0      
Other   38      
Retained Earnings          
Net Income Attributable to IDACORP, Inc. 68,574   68,574    
Common stock dividends     (40,218)    
Accumulated Other Comprehensive (Loss) Income          
Unfunded pension liability adjustment (net of tax) 147     147  
Noncontrolling Interest [Abstract]          
Net income attributable to noncontrolling interests 290       (290)
Ending balance at Jun. 30, 2023 2,861,355 $ 884,309 1,982,083 (12,629) $ 7,592
Accumulated Other Comprehensive (Loss) Income          
Total IDACORP, Inc. shareholders’ equity $ 2,853,763   $ 2,861,355 $ 2,853,763  
v3.23.2
Idaho Power Company Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Regulated Operating Revenue        
Electric utility revenues $ 412,727 $ 357,668 $ 842,065 $ 701,589
Operating Expenses [Abstract]        
Purchased power 91,460 91,727 262,554 177,151
Fuel expense 31,113 34,417 120,194 80,119
Power cost adjustment 49,629 (426) (1,708) (825)
Other operations and maintenance 97,123 100,556 189,164 192,642
Energy efficiency programs 6,552 6,609 11,767 13,198
Depreciation 47,108 34,830 92,499 79,287
Other electric utility operating expenses 7,846 8,865 16,871 17,765
Total electric utility operating expenses 330,831 276,578 691,341 559,337
Operating Income 82,294 81,506 150,398 142,174
Nonoperating (Income) Expense:        
Allowance for equity funds used during construction (11,173) (9,287) (21,081) (18,410)
Earnings of unconsolidated equity-method investments (2,739) (2,288) (5,192) (4,596)
Interest on long-term debt 28,579 21,374 53,547 42,443
Other interest 4,609 3,860 9,363 7,675
Allowance for borrowed funds used during construction (5,161) (3,481) (9,389) (6,865)
Other income, net (8,816) (1,551) (16,964) (3,163)
Total nonoperating expense, net 5,299 8,627 10,284 17,084
Income Before Income Taxes 76,995 72,879 140,114 125,090
Income Tax Expense 8,131 8,291 15,226 14,317
Net Income 68,864 64,588 124,888 110,773
Idaho Power Company [Member]        
Regulated Operating Revenue        
Electric utility revenues 412,727 357,668 842,065 701,589
Operating Expenses [Abstract]        
Purchased power 91,460 91,727 262,554 177,151
Fuel expense 31,113 34,417 120,194 80,119
Power cost adjustment 49,629 (426) (1,708) (825)
Other operations and maintenance 97,123 100,556 189,164 192,642
Energy efficiency programs 6,552 6,609 11,767 13,198
Depreciation 47,108 34,830 92,499 79,287
Other electric utility operating expenses 7,846 8,865 16,871 17,765
Total electric utility operating expenses 330,831 276,578 691,341 559,337
Operating Income 81,896 81,090 150,724 142,252
Nonoperating (Income) Expense:        
Allowance for equity funds used during construction (11,173) (9,287) (21,081) (18,410)
Earnings of unconsolidated equity-method investments (1,923) (1,784) (4,395) (4,265)
Interest on long-term debt 28,579 21,374 53,547 42,443
Other interest 4,529 3,854 9,203 7,665
Allowance for borrowed funds used during construction (5,161) (3,481) (9,389) (6,865)
Other income, net (8,319) (1,337) (15,845) (2,978)
Total nonoperating expense, net 6,532 9,339 12,040 17,590
Income Before Income Taxes 75,364 71,751 138,684 124,662
Income Tax Expense 8,284 9,316 15,894 16,013
Net Income $ 67,080 $ 62,435 $ 122,790 $ 108,649
v3.23.2
Idaho Power Company Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net income $ 68,864 $ 64,588 $ 124,888 $ 110,773
Other Comprehensive Income:        
Unfunded pension liability adjustment, net of tax of $51, $290, $102, and $580, respectively 147 837 293 1,674
Total Comprehensive Income 69,011 65,425 125,181 112,447
Idaho Power Company [Member]        
Net income 67,080 62,435 122,790 108,649
Other Comprehensive Income:        
Unfunded pension liability adjustment, net of tax of $51, $290, $102, and $580, respectively 147 837 293 1,674
Total Comprehensive Income $ 67,227 $ 63,272 $ 123,083 $ 110,323
v3.23.2
Idaho Power Company Consolidated Balance Sheet - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current Assets:    
Cash and cash equivalents $ 134,779 $ 177,577
Receivables [Abstract]    
Customer 112,730 114,173
Other 56,419 51,179
Income taxes receivable 0 13,734
Accrued unbilled revenues 93,000 84,862
Materials and supplies (at average cost) 121,215 92,461
Fuel stock (at average cost) 16,498 14,762
Prepayments 23,832 24,517
Current regulatory assets 174,848 80,049
Other 313 40,339
Total current assets 733,634 693,653
Investments 126,839 121,352
Property, Plant and Equipment [Abstract]    
Utility plant in service 6,984,783 6,828,467
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation (2,544,166) (2,465,279)
Utility plant in service - net 4,440,617 4,363,188
Construction work in progress 990,181 785,706
Utility plant held for future use 8,860 7,130
Other property, net of accumulated depreciation 16,466 16,946
Property, plant and equipment - net 5,456,124 5,172,970
Other Assets:    
Company-owned life insurance 77,999 73,944
Regulatory assets 1,381,398 1,421,912
Other 63,074 59,427
Total other assets 1,522,471 1,555,283
Total assets 7,839,068 7,543,258
Current Liabilities:    
Accounts payable 223,653 292,719
Taxes accrued 30,640 8,565
Interest accrued 32,026 24,060
Accrued compensation 47,948 59,265
Current regulatory liabilities 6,405 63,957
Advances from customers 91,262 72,222
Other 36,404 27,777
Total current liabilities 468,338 548,565
Other Liabilities [Abstract]    
Deferred Income Tax 861,478 873,916
Regulatory liabilities 803,547 796,644
Pension and other postretirement benefits 238,777 238,037
Other 123,221 77,336
Total other liabilities 2,027,023 1,985,933
Long-Term Debt 2,482,352 2,194,145
Commitments and Contingencies
Equity [Abstract]    
Common stock 884,309 882,189
Retained earnings 1,982,083 1,937,972
Accumulated other comprehensive loss (12,629) (12,922)
Total equity 2,861,355 2,814,615
Total 7,839,068 7,543,258
Idaho Power Company [Member]    
Current Assets:    
Cash and cash equivalents 104,455 108,933
Receivables [Abstract]    
Customer 112,730 114,173
Other 56,167 50,754
Income taxes receivable 0 13,108
Accrued unbilled revenues 93,000 84,862
Materials and supplies (at average cost) 121,215 92,461
Fuel stock (at average cost) 16,498 14,762
Prepayments 23,703 24,396
Current regulatory assets 174,848 80,049
Other 313 40,339
Total current assets 702,929 623,837
Investments 86,096 78,791
Property, Plant and Equipment [Abstract]    
Utility plant in service 6,984,783 6,828,467
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation (2,544,166) (2,465,279)
Utility plant in service - net 4,440,617 4,363,188
Construction work in progress 990,181 785,706
Utility plant held for future use 8,860 7,130
Other property, net of accumulated depreciation 4,316 4,558
Property, plant and equipment - net 5,443,974 5,160,582
Other Assets:    
Company-owned life insurance 77,999 73,944
Regulatory assets 1,381,398 1,421,912
Other 54,721 52,038
Total other assets 1,514,118 1,547,894
Total assets 7,747,117 7,411,104
Current Liabilities:    
Accounts payable 222,977 292,616
Taxes accrued 32,808 9,101
Interest accrued 32,026 24,060
Accrued compensation 47,728 58,959
Current regulatory liabilities 6,405 63,957
Advances from customers 91,262 72,222
Other 34,854 26,199
Total current liabilities 527,186 603,452
Other Liabilities [Abstract]    
Deferred Income Tax 858,421 870,692
Regulatory liabilities 803,547 796,644
Pension and other postretirement benefits 238,777 238,037
Other 122,666 76,471
Total other liabilities 2,023,411 1,981,844
Long-Term Debt 2,482,352 2,194,145
Commitments and Contingencies
Equity [Abstract]    
Common stock 97,877 97,877
Premium on capital stock 712,258 712,258
Capital stock issuance costs (2,097) (2,097)
Retained earnings 1,918,759 1,836,547
Accumulated other comprehensive loss (12,629) (12,922)
Total equity 2,714,168 2,631,663
Total 7,747,117 7,411,104
Idaho Power Company [Member] | Related Party    
Current Liabilities:    
Accounts Payable, Other $ 59,126 $ 56,338
v3.23.2
Idaho Power Company Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Net income $ 124,888 $ 110,773
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 94,677 81,351
Deferred income taxes and investment tax credits (15,209) (16,953)
Changes in regulatory assets and liabilities (8,255) 8,658
Pension and postretirement benefit plan expense 13,626 14,484
Contributions to pension and postretirement benefit plans (13,818) (12,122)
Earnings of unconsolidated equity-method investments (5,192) (4,596)
Distributions from equity-method investments 0 4,265
Allowance for equity funds used during construction (21,081) (18,410)
Other non-cash adjustments to net income, net 3,550 5,953
Change in:    
Accounts receivable and unbilled revenues (28,539) (31,690)
Prepayments (2,762) 743
Materials, supplies, and fuel stock (30,490) 858
Accounts and wages payable (138,469) (23,439)
Taxes accrued/receivable 35,809 31,253
Other assets and liabilities (1,956) 4,827
Net cash provided by operating activities 6,779 155,955
Investing Activities:    
Additions to property, plant and equipment (274,167) (194,094)
Payments received from transmission project joint funding partners 8,953 5,531
Distributions from equity-method investments, return of investment 0 10,335
Investments in unconsolidated affiliates (4,900) 0
Purchases of equity securities (1,926) (27,942)
Purchases of held-to-maturity securities 733 29,692
Proceeds from the sale of equity securities 4,401 52,833
Other 4,438 6,767
Net cash used in investing activities (263,799) (203,927)
Financing Activities:    
Issuance of long-term debt 522,000 150,000
Discount on issuance of long-term debt (3,772) 0
Retirement of long-term debt 225,000 0
Dividends on common stock (80,538) (76,339)
Other 4,787 (88)
Net cash provided by financing activities 214,222 70,615
Net (decrease) increase in cash and cash equivalents (42,798) 22,643
Cash and cash equivalents at beginning of the period 177,577 215,243
Cash and cash equivalents at end of the period 134,779 237,886
Supplemental Disclosure of Cash Flow Information:    
Income taxes 0 6,265
Interest (net of amount capitalized) 43,927 41,657
Non-cash investing activities:    
Additions to property, plant and equipment in accounts payable 137,717 70,063
Idaho Power Company [Member]    
Net income 122,790 108,649
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 94,382 81,053
Deferred income taxes and investment tax credits (18,097) (19,471)
Changes in regulatory assets and liabilities (8,255) 8,658
Pension and postretirement benefit plan expense 13,626 14,484
Contributions to pension and postretirement benefit plans (13,818) (12,122)
Earnings of unconsolidated equity-method investments (4,395) (4,265)
Distributions from equity-method investments 0 4,265
Allowance for equity funds used during construction (21,081) (18,410)
Other non-cash adjustments to net income, net (1,665) 464
Change in:    
Accounts receivable and unbilled revenues (28,436) (31,709)
Prepayments (2,754) 754
Materials, supplies, and fuel stock (30,490) 858
Accounts and wages payable (136,183) (23,426)
Taxes accrued/receivable 36,814 30,097
Other assets and liabilities (1,837) 4,813
Net cash provided by operating activities 601 144,692
Investing Activities:    
Additions to property, plant and equipment (274,162) (193,940)
Payments received from transmission project joint funding partners 8,953 5,531
Distributions from equity-method investments, return of investment 0 10,335
Investments in unconsolidated affiliates (4,900) 0
Purchases of equity securities (1,576) (27,118)
Purchases of held-to-maturity securities (733) (29,692)
Proceeds from the sale of equity securities 4,401 52,833
Other 5,473 7,282
Net cash used in investing activities (262,544) (174,769)
Financing Activities:    
Issuance of long-term debt 522,000 150,000
Discount on issuance of long-term debt (3,772) 0
Retirement of long-term debt 225,000 0
Dividends on common stock (40,625) (76,318)
Other 4,862 (73)
Net cash provided by financing activities 257,465 73,609
Net (decrease) increase in cash and cash equivalents (4,478) 43,532
Cash and cash equivalents at beginning of the period 108,933 60,075
Cash and cash equivalents at end of the period 104,455 103,607
Supplemental Disclosure of Cash Flow Information:    
Income taxes 0 10,645
Interest (net of amount capitalized) 43,767 41,647
Non-cash investing activities:    
Additions to property, plant and equipment in accounts payable $ 137,717 $ 70,063
v3.23.2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Statement of Comprehensive Income [Abstract]        
Unfunded pension liability adjustment, tax $ 51 $ 290 $ 102 $ 580
v3.23.2
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Statement of Financial Position [Abstract]    
Accounts Receivable, Allowance for Credit Loss, Current $ 3,856 $ 5,034
Allowance for Doubtful Other Receivables, Current $ 567 $ 512
Common Stock, Shares Authorized 120,000,000 120,000,000
Common Stock, Shares, Issued 50,615,000 50,562,000
v3.23.2
Consolidated Statements of Equity (Parenthetical) - $ / shares
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2021
Jun. 30, 2023
Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]        
Common stock dividends, per share (in dollar per share) $ 0.79 $ 0.75 $ 1.58 $ 1.50
v3.23.2
Idaho Power Company Statement of Comprehensive Income (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Unfunded pension liability adjustment, tax $ (51) $ (290) $ (102) $ (580)
Idaho Power Company [Member]        
Unfunded pension liability adjustment, tax $ (51) $ (290) $ (102) $ (580)
v3.23.2
Idaho Power company Consolidated Balance Sheet (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current $ 3,856 $ 5,034
Allowance for Doubtful Other Receivables, Current $ 567 $ 512
Common Stock, Shares Authorized 120,000,000 120,000,000
Common Stock, Shares, Issued 50,615,000 50,562,000
Idaho Power Company [Member]    
Accounts Receivable, Allowance for Credit Loss, Current $ 3,856 $ 5,034
Allowance for Doubtful Other Receivables, Current $ 567 $ 512
Common Stock, Par or Stated Value Per Share $ 2.50 $ 2.50
Common Stock, Shares Authorized 50,000,000 50,000,000
Common Stock, Shares, Issued 39,151,000 39,151,000
v3.23.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
 6 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
This Quarterly Report on Form 10-Q is a combined report of IDACORP, Inc. (IDACORP) and Idaho Power Company (Idaho Power). Therefore, these Notes to the Condensed Consolidated Financial Statements apply to both IDACORP and Idaho Power. However, Idaho Power makes no representation as to the information relating to IDACORP’s other operations.

Nature of Business
 
IDACORP is a holding company formed in 1998 whose principal operating subsidiary is Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale, and purchase of electric energy and capacity with a service area covering approximately 24,000 square miles in southern Idaho and eastern Oregon. Idaho Power is regulated primarily by the state utility regulatory commissions of Idaho and Oregon and the Federal Energy Regulatory Commission. Idaho Power is the parent of Idaho Energy Resources Co. (IERCo), a joint venturer in Bridger Coal Company (BCC), which mines and supplies coal to the Jim Bridger power plant (Jim Bridger plant) owned in part by Idaho Power.
 
IDACORP’s other notable wholly-owned subsidiaries include IDACORP Financial Services, Inc. (IFS), an investor in affordable housing and other real estate tax credit investments, and Ida-West Energy Company (Ida-West), an operator of small hydropower generation projects that satisfy the requirements of the Public Utility Regulatory Policies Act of 1978 (PURPA).

Regulation of Utility Operations
 
As a regulated utility, many of Idaho Power's fundamental business decisions are subject to the approval of governmental agencies, including the prices that Idaho Power is authorized to charge for its electric service. These approvals are a critical factor in determining IDACORP's and Idaho Power's results of operations and financial condition.

IDACORP's and Idaho Power's financial statements reflect the effects of the different ratemaking principles followed by the jurisdictions regulating Idaho Power. The application of accounting principles related to regulated operations sometimes results in Idaho Power recording expenses and revenues in a different period than when an unregulated enterprise would record such expenses and revenues. In these instances, the amounts are deferred or accrued as regulatory assets or regulatory liabilities on the balance sheet. Regulatory assets represent incurred costs that have been deferred because it is probable they will be recovered from customers through future rates. Regulatory liabilities represent obligations to make refunds to customers for previous collections, or represent amounts collected in advance of incurring an expense. The effects of applying these regulatory accounting principles to Idaho Power's operations are discussed in more detail in Note 3 - "Regulatory Matters."

Financial Statements
 
In the opinion of management of IDACORP and Idaho Power, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly each company's condensed consolidated balance sheets as of June 30, 2023, condensed consolidated statements of income for the three months and six months ended June 30, 2023 and 2022, and condensed consolidated cash flows for the six months ended June 30, 2023 and 2022. These adjustments are of a normal and recurring nature. These financial statements do not contain the complete detail or note disclosures concerning accounting policies and other matters that would be included in full-year financial statements and should be read in conjunction with the audited consolidated financial statements included in IDACORP’s and Idaho Power’s Annual Report on Form 10-K for the year ended December 31, 2022 (2022 Annual Report). The statements of income for the interim period are not necessarily indicative of the results to be expected for the full year. A change in management's estimates or assumptions could have a material impact on IDACORP's or Idaho Power's respective balance sheets and statements of income during the period in which such change occurred.
 
Management Estimates
 
Management makes estimates and assumptions when preparing financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP). These estimates and assumptions include, among others, those related to rate regulation, retirement benefits, contingencies, asset impairment, income taxes, unbilled revenues, and bad debt. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and
liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates involve judgments with respect to, among other things, future economic factors that are difficult to predict and are beyond management's control. Accordingly, actual results could differ from those estimates.

New and Recently Adopted Accounting Pronouncements

There have been no recently issued accounting pronouncements that have had or are expected to have a material impact on IDACORP's or Idaho Power's condensed consolidated financial statements.
v3.23.2
INCOME TAXES:
 6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
 
In accordance with interim reporting requirements, IDACORP and Idaho Power use an estimated annual effective tax rate for computing their provisions for income taxes. An estimate of annual income tax expense (or benefit) is made each interim period using estimates for annual pre-tax income, income tax adjustments, and tax credits. The estimated annual effective tax rates do not include discrete events such as tax law changes, examination settlements, accounting method changes, or adjustments to tax expense or benefits attributable to prior years. Discrete events are recorded in the interim period in which they occur or become known. The estimated annual effective tax rate is applied to year-to-date pre-tax income to determine income tax expense (or benefit) for the interim period consistent with the annual estimate. In subsequent interim periods, income tax expense (or benefit) for the period is computed as the difference between the year-to-date amount reported for the previous interim period and the current period's year-to-date amount.

Income Tax Expense

The following table provides a summary of income tax expense for the six months ended June 30, 2023 and 2022 (in thousands): 
 IDACORPIdaho Power
 2023202220232022
Income tax at statutory rates (federal and state)$36,010 $32,140 $35,697 $32,088 
Additional accumulated deferred investment tax credits (ADITC)
  amortization		(7,500)— (7,500)— 
Excess deferred income tax reversal(5,342)(5,703)(5,342)(5,703)
Other(1)
(7,942)(12,120)(6,961)(10,372)
Income tax expense$15,226 $14,317 $15,894 $16,013 
Effective tax rate10.9 %11.5 %11.5 %12.8 %
(1) "Other" is primarily comprised of the net tax effect of Idaho Power's regulatory flow-through tax adjustments.
v3.23.2
REGULATORY MATTERS:
 6 Months Ended
Jun. 30, 2023
Public Utilities, Rate Matters [Abstract]  
Regulatory Matters REGULATORY MATTERS
 
Included below is a summary of Idaho Power's most recent general rate cases and base rate changes, as well as other recent or pending notable regulatory matters and proceedings.

Idaho and Oregon General Rate Cases

Idaho Power's current base rates result from the Idaho Public Utilities Commission (IPUC) and Public Utility Commission of Oregon (OPUC) orders described in Note 3 - "Regulatory Matters" to the consolidated financial statements included in the 2022 Annual Report.

On June 1, 2023, Idaho Power filed a general rate case with the IPUC. The filing is based on a 2023 test year and requests approximately $111 million in additional Idaho jurisdiction annual revenues, which is net of a corresponding proposed power cost adjustment (PCA) decrease of $173.4 million and a reduction to annual energy efficiency rider collection of $3.5 million. If approved, this request would result in an 8.61 percent overall average net base rate increase for Idaho Power's Idaho customers. The filing requests, among other items, a 10.4 percent authorized rate of return on equity and an approximate $3.9 billion Idaho retail rate base. The $3.9 billion of rate base excludes rate base associated with Idaho Power's jointly-owned coal facilities, the costs of which are recovered under separate rate mechanisms. In its application, Idaho Power proposed a capitalization structure of 49 percent long-term debt and 51 percent common stock equity. Idaho Power included an average cost of debt of 4.895 percent, and an overall cost of capital of 7.702 percent.
In addition, Idaho Power's filing requests approval or authorization of, among other items:

•Modifications to the Idaho-jurisdiction power cost adjustment (PCA) necessary to support the transfer of certain base level net power supply costs from the PCA to base rates;
•Modifications to the energy efficiency rider to support the transfer of energy efficiency labor-related cost collection from the annual energy efficiency rider into base rates;
•Modifications to the fixed cost adjustment (FCA) mechanism to support Idaho Power's proposed rate designs;
•Continued deferral of incremental vegetation management and insurance costs in 2024 and beyond as measured from a new base level of costs established in the general rate case;
•An annual $18 million increase in collection of Idaho Power’s regulatory asset associated with its defined benefit pension plan contributions;
•A rate increase mitigation measure, in lieu of increasing base rates, to (1) move an estimated $45 million of investment tax credits, including from certain battery storage projects, to the existing ADITC and revenue sharing mechanism described in more detail below, and (2) increase the existing $25 million maximum allowed annual additional accelerated ADITC amortization amount under the mechanism by a dollar amount of investment tax credits equal to the actual revenue requirement of those battery storage projects in any applicable year;
•Deferral and amortization of annual differences between certain periodic maintenance costs at Idaho Power's natural gas-fired power plants; and
•A proposed residential price modernization plan.

As of the date of this report, Idaho Power is unable to predict the outcome of the general rate case. Idaho Power anticipates that new rates, if approved by the IPUC, would become effective on or after January 1, 2024.

Idaho Settlement Stipulations

A May 2018 Idaho settlement stipulation related to tax reform (May 2018 Idaho Tax Reform Settlement Stipulation) is described in Note 3 - "Regulatory Matters" to the consolidated financial statements included in the 2022 Annual Report and includes provisions for the accelerated amortization of ADITC to help achieve a minimum 9.4 percent Idaho-jurisdiction return on year-end equity (Idaho ROE). In addition, under the May 2018 Idaho Tax Reform Settlement Stipulation, the Idaho ROE at which Idaho Power would begin amortizing additional ADITC would revert back to 95 percent of the authorized return on equity in the next general rate case. The settlement stipulation also provides for the potential sharing between Idaho Power and Idaho customers of Idaho-jurisdictional earnings in excess of a 10.0 percent Idaho ROE, which would adjust to the authorized return on equity in the next general rate case currently pending before the IPUC.

Based on its estimate of full-year 2023 Idaho ROE, in the three and six months ended June 30, 2023, Idaho Power recorded $3.8 million and $7.5 million, respectively, for additional ADITC amortization under the May 2018 Idaho Tax Reform Settlement Stipulation. The additional ADITC amortization was recorded in income tax expense on Idaho Power's condensed consolidated statements of income. Accordingly, at June 30, 2023, $37.5 million of additional ADITC remains available for future use. Idaho Power recorded no additional ADITC amortization or provision against revenues for sharing of earnings with customers during 2022.

Power Cost Adjustment Mechanisms

In both its Idaho and Oregon jurisdictions, Idaho Power's power cost adjustment mechanisms address the volatility of power supply costs and provide for annual adjustments to the rates charged to its retail customers. The power cost adjustment mechanisms compare Idaho Power's actual net power supply costs (primarily fuel and purchased power less wholesale energy sales) against net power supply costs being recovered in Idaho Power's retail rates. Under the power cost adjustment mechanisms, certain differences between actual net power supply costs incurred by Idaho Power and costs being recovered in retail rates are recorded as a deferred charge or credit on the balance sheet for future recovery or refund. The power supply costs deferred primarily result from changes in contracted power purchase prices and volumes, changes in wholesale market prices and transaction volumes, fuel prices, and the levels of Idaho Power's own generation.

In May 2023, the IPUC issued an order approving recovery of an incremental $200.2 million of Idaho-jurisdiction PCA revenues, which included an increase in the forecasted power supply cost component and the deferral balance component. The IPUC directed Idaho Power to spread recovery of the $190.2 million deferral balance component of the PCA over a two-year period from June 1, 2023, to May 31, 2025, resulting in a total PCA increase of $105.1 million, effective for the PCA collection period from June 1, 2023, to May 31, 2024. The order defers collection of $95.1 million of deferred PCA costs to the subsequent annual PCA collection period from June 1, 2024, to May 31, 2025. The net increase in PCA revenues reflects higher market energy and natural gas prices, combined with lower-than-expected hydropower generation and limited coal supply in the
prior April 2022 to March 2023 PCA period. The net increase also reflects an expectation of continued elevated market energy and natural gas prices in the April 2023 to March 2024 forecast period under the PCA.

In May 2023, the OPUC issued an order approving Idaho Power's annual power cost update settlement, for a $7.7 million increase in Oregon-jurisdiction rates effective June 1, 2023.

Idaho Fixed Cost Adjustment Mechanism

The Idaho-jurisdiction FCA mechanism, applicable to Idaho residential and small commercial customers, is designed to remove a portion of Idaho Power’s financial disincentive to invest in energy efficiency programs by separating (or decoupling) the recovery of fixed costs from the variable kilowatt-hour (kWh) charge and linking it instead to a set amount per customer. Under Idaho Power's current rate design, Idaho Power recovers a portion of fixed costs through the variable kWh charge, which may result in over-collection or under-collection of fixed costs. To return over-collection to customers or to collect under-collection from customers, the FCA mechanism allows Idaho Power to accrue, or defer, the difference between the authorized fixed-cost recovery amount per customer and the actual fixed costs per customer recovered by Idaho Power during the year. The IPUC has discretion to cap the annual increase in the FCA recovery at 3 percent of base revenue, with any excess deferred for collection in a subsequent year. In May 2023, the IPUC issued an order approving a $10.1 million decrease in recovery from the FCA from $35.2 million to $25.1 million for the 2022 FCA deferral, with new rates effective for the period from June 1, 2023, to May 31, 2024.

Jim Bridger Power Plant Rate Base Adjustment and Recovery

In June 2022, the IPUC issued an order approving, with modifications, Idaho Power’s amended application requesting authorization to (1) accelerate depreciation for the Jim Bridger plant to allow the coal-related plant assets to be fully depreciated and recovered by December 31, 2030, (2) establish a balancing account to track the incremental costs, benefits, and required regulatory accounting associated with ceasing participation in coal-fired operations at the Jim Bridger plant, and (3) increase customer rates related to the associated incremental annual levelized revenue requirement (Bridger Order).

The Bridger Order allows for regulatory accounting entries and establishes balancing accounts (recorded as regulatory assets or liabilities on Idaho Power’s and IDACORP’s consolidated balance sheets) to track differences between amounts recovered in rates and actual incremental costs and benefits associated with Idaho Power’s cessation of coal-fired operations at the Jim Bridger plant. The incremental costs and benefits include the revenue requirement associated with the incremental Jim Bridger plant coal-related investments made from 2012 through the end of 2020, forecasted coal-related investments, and near-term decommissioning costs, offset by other operations and maintenance (O&M) cost savings. The Bridger Order deemed all coal-related investments at the Jim Bridger plant from 2012 through 2020 to be prudent for recovery. In the Bridger Order, the IPUC reduced Idaho Power's requested rate increase from 2.1 percent in its amended filing to 1.5 percent, a reduction from a requested $27.1 million to $18.8 million annually. The Bridger Order provides that any uncollected amount resulting from the reduction in the rate increase will be recorded in the balancing account for future recovery with no carrying charge. Uncollected amounts tracked in this balancing account were included for recovery in Idaho Power's June 1, 2023, general rate case filing with the IPUC. Idaho Power anticipates making future filings with the IPUC that may result in periodic adjustments to rates to true up variances between revenue collections and actual revenue requirement amounts. The Bridger Order allows Idaho Power to earn a return on and recover through 2030 the net book value of coal-related assets at the Jim Bridger plant as of December 31, 2020, as well as forecasted coal-related investments.

Wildfire Mitigation Cost Recovery

In June 2021, the IPUC authorized Idaho Power to defer for future amortization incremental O&M and depreciation expense for certain capital investments necessary to implement Idaho Power's Wildfire Mitigation Plan (WMP). The IPUC also authorized Idaho Power to record these deferred expenses as a regulatory asset until Idaho Power can request amortization of the deferred costs in a future IPUC proceeding, at which time the IPUC will have the opportunity to review actual costs and determine the amount of prudently incurred costs that Idaho Power can recover through retail rates. In its 2021 application with the IPUC, Idaho Power projected spending approximately $47 million in incremental wildfire mitigation-related O&M and roughly $35 million in wildfire mitigation system-hardening incremental capital expenditures over a five-year period. The IPUC authorized a deferral period of five years, or until rates go into effect from Idaho Power's next general rate case, whichever is first. As of June 30, 2023, Idaho Power's deferral of Idaho-jurisdiction costs related to the WMP was $39.5 million.

During the 2021 and 2022 wildfire seasons, Idaho Power identified needs for expanded mitigation measures by gaining additional insights and knowledge on wildfires and wildfire mitigation activities. In October 2022, Idaho Power filed an
updated WMP with the IPUC along with an application requesting authorization to defer an estimated $16 million of newly identified incremental costs expected to be incurred between 2022 and 2025 associated with expanded wildfire mitigation efforts. In March 2023, the IPUC approved Idaho Power's updated WMP and request to defer the additional incremental costs.
v3.23.2
REVENUES:
 3 Months Ended
Jun. 30, 2023
Revenues [Abstract]  
REVENUES: REVENUES
 
The following table provides a summary of electric utility operating revenues for IDACORP and Idaho Power for the three months and six months ended June 30, 2023 and 2022 (in thousands):
Three months ended
June 30,		Six months ended
June 30,
 2023202220232022
Revenue from contracts with customers$385,229 $345,483 $770,895 $663,665 
Alternative revenue programs and other revenues27,498 12,185 71,170 37,924 
Total electric utility operating revenues$412,727 $357,668 $842,065 $701,589 

Revenues from Contracts with Customers

The following table presents revenues from contracts with customers disaggregated by revenue source for the three months and six months ended June 30, 2023 and 2022 (in thousands):
Three months ended
June 30,		Six months ended
June 30,
 2023202220232022
Retail revenues:
Residential (includes $5,678, $5,459, $14,587, and $15,551, respectively, related to the FCA)(1)
$134,885 $124,593 $323,422 $293,888 
Commercial (includes $296, $304, $572, and $588, respectively, related to the FCA)(1)
87,677 79,260 175,507 157,826 
Industrial58,245 51,987 113,789 101,047 
Irrigation62,781 57,659 63,713 58,700 
Deferred revenue related to HCC relicensing AFUDC(2)
(1,927)(1,927)(4,046)(4,046)
Total retail revenues341,661 311,572 672,385 607,415 
Less: FCA mechanism revenues(1)
(5,974)(5,763)(15,159)(16,139)
Wholesale energy sales15,201 6,980 45,397 10,015 
Transmission wheeling-related revenues20,026 18,323 41,611 34,788 
Energy efficiency program revenues6,552 6,609 11,767 13,198 
Other revenues from contracts with customers7,763 7,762 14,894 14,388 
Total revenues from contracts with customers$385,229 $345,483 $770,895 $663,665 
(1) The FCA mechanism is an alternative revenue program in the Idaho jurisdiction and does not represent revenue from contracts with customers.
(2) The IPUC allows Idaho Power to recover a portion of the allowance for funds used during construction (AFUDC) on construction work in progress related to the Hells Canyon Complex (HCC) relicensing process, even though the relicensing process is not yet complete and the costs have not been moved to electric plant in service. Idaho Power is collecting $8.8 million annually in the Idaho jurisdiction but is deferring revenue recognition of the amounts collected until the license is issued and the accumulated license costs approved for recovery are placed in service.

Alternative Revenue Programs and Other Revenues

While revenues from contracts with customers make up most of Idaho Power’s revenues, the IPUC has authorized the use of an additional regulatory mechanism, the Idaho FCA mechanism, which may increase or decrease tariff-based customer rates. The Idaho FCA mechanism is described in Note 3 - "Regulatory Matters." The FCA mechanism revenues include only the initial recognition of FCA revenues when they meet the regulator-specified conditions for recognition. Revenue from contracts with customers excludes the portion of the tariff price representing FCA revenues that Idaho Power initially recorded in prior periods when revenues met regulator-specified conditions. When Idaho Power includes those amounts in the price of utility service and billed to customers, Idaho Power records such amounts as recovery of the associated regulatory asset or liability and not as revenues.
Derivative revenues include gains from settled electricity swaps and sales of electricity under forward sales contracts that are bundled with renewable energy credits. Related to these forward sales, Idaho Power simultaneously enters into forward purchases of electricity for the same quantity at the same location, which are recorded in purchased power on the condensed consolidated statements of income. For more information on settled electricity swaps, see Note 11 - "Derivative Financial Instruments."

The table below presents the FCA mechanism revenues and other revenues for the three months and six months ended June 30, 2023 and 2022 (in thousands):
Three months ended
June 30,		Six months ended
June 30,
 2023202220232022
FCA mechanism revenues$5,974 $5,763 $15,159 $16,139 
Derivative revenues21,524 6,422 56,011 21,785 
Total alternative revenue programs and other revenues$27,498 $12,185 $71,170 $37,924 

Receivables and Allowance for Uncollectible Accounts

The following table provides a rollforward of the allowance for uncollectible accounts related to customer receivables for the six months ended June 30, 2023 and 2022 (in thousands):
Six months ended
June 30,
 20232022
Balance at beginning of period$5,034 $4,499 
Additions to the allowance739 478 
Write-offs, net of recoveries(1,917)(1,056)
Balance at end of period$3,856 $3,921 
Allowance for uncollectible accounts as a percentage of customer receivables3.3 %4.3 %
v3.23.2
LONG-TERM DEBT
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
Long-Term Debt Issuances and Redemptions

On December 22, 2022, Idaho Power entered into a Bond Purchase Agreement with certain institutional purchasers relating to the sale by Idaho Power of $170 million of first mortgage bonds, secured medium-term notes, Series N (Series N Notes), as described in Note 5 - "Long-Term Debt" to the consolidated financial statements included in the 2022 Annual Report. On March 8, 2023, Idaho Power issued $60 million in aggregate principal amount of 5.06% first mortgage bonds, secured medium-term notes, Series N, maturing on March 8, 2043; and $62 million in aggregate principal amount of 5.20% first mortgage bonds, secured medium-term notes, Series N, maturing on March 8, 2053.

Idaho Power also issues secured medium term notes from time to time under a shelf registration statement with the SEC, as described in Note 5 - "Long-Term Debt" to the consolidated financial statements included in the 2022 Annual Report. On March 14, 2023, under the shelf registration statement with the SEC, Idaho Power issued $400 million in aggregate principal amount of 5.50% first mortgage bonds, secured medium-term notes, Series M, maturing on March 15, 2053. On April 1, 2023, Idaho Power repaid $75 million in aggregate principal amount of maturing 2.50% first mortgage bonds due 2023, Series I.

On March 4, 2022, Idaho Power entered into a floating rate term loan credit agreement (Term Loan Facility) for the issuance of up to an aggregate principal amount of $150 million due 2024, bearing interest at floating rates based on the Secured Overnight Financing Rate (SOFR), as described in Note 5 - "Long-Term Debt" to the consolidated financial statements included in the 2022 Annual Report. On March 31 and May 17, 2023, Idaho Power repaid $100 million and $50 million of the Term Loan Facility, respectively. As of June 30, 2023, there was no remaining outstanding principal balance of the Term Loan Facility.
v3.23.2
COMMON STOCK:
 6 Months Ended
Jun. 30, 2023
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]  
Common Stock COMMON STOCK
 
IDACORP Common Stock
 
During the six months ended June 30, 2023, IDACORP granted 75,295 restricted stock unit awards to employees and issued 52,897 shares of common stock using original issuances of shares pursuant to the IDACORP, Inc. 2000 Long-Term Incentive and Compensation Plan, including 13,842 shares of common stock issued to members of the board of directors. As directed by IDACORP, plan administrators of the IDACORP, Inc. Dividend Reinvestment and Stock Purchase Plan and Idaho Power Company Employee Savings Plan used market purchases of IDACORP common stock to acquire shares of IDACORP common stock for the plans.

Restrictions on Dividends
 
Idaho Power’s ability to pay dividends on its common stock held by IDACORP and IDACORP’s ability to pay dividends on its common stock are limited to the extent payment of such dividends would violate the covenants in their respective Credit Facilities or Idaho Power’s Revised Code of Conduct. A covenant under IDACORP’s credit facility and Idaho Power’s credit facility requires IDACORP and Idaho Power to maintain leverage ratios of consolidated indebtedness to consolidated total capitalization, as defined therein, of no more than 65 percent at the end of each fiscal quarter. At June 30, 2023, the leverage ratios for IDACORP and Idaho Power were 47 percent and 48 percent, respectively. Based on these restrictions, IDACORP’s and Idaho Power’s dividends were limited to $1.5 billion and $1.4 billion, respectively, at June 30, 2023. There are additional facility covenants, subject to exceptions, that prohibit or restrict the sale or disposition of property without consent and any agreements restricting dividend payments to IDACORP and Idaho Power from any material subsidiary. At June 30, 2023, IDACORP and Idaho Power were in compliance with those covenants.
 
Idaho Power’s Revised Policy and Code of Conduct relating to transactions between and among Idaho Power, IDACORP, and other affiliates, which was approved by the IPUC in April 2008, provides that Idaho Power will not pay any dividends to IDACORP that will reduce Idaho Power’s common equity capital below 35 percent of its total adjusted capital without IPUC approval. At June 30, 2023, Idaho Power's common equity capital was 52 percent of its total adjusted capital. Further, Idaho Power must obtain approval from the OPUC before it can directly or indirectly loan funds or issue notes or give credit on its books to IDACORP.
 
Idaho Power’s articles of incorporation contain restrictions on the payment of dividends on its common stock if preferred stock dividends are in arrears. As of the date of this report, Idaho Power has no preferred stock outstanding.

In addition to contractual restrictions on the amount and payment of dividends, the Federal Power Act prohibits the payment of dividends from "capital accounts." The term "capital account" is undefined in the Federal Power Act or its regulations, but Idaho Power does not believe the restriction would limit Idaho Power's ability to pay dividends out of current year earnings or retained earnings.
v3.23.2
EARNINGS PER SHARE:
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
The table below presents the computation of IDACORP’s basic and diluted earnings per share for the three months and six months ended June 30, 2023 and 2022 (in thousands, except for per share amounts).
Three months ended
June 30,		Six months ended
June 30,
 2023202220232022
Numerator:    
Net income attributable to IDACORP, Inc.$68,574 $64,287 $124,672 $110,548 
Denominator:  
Weighted-average common shares outstanding - basic50,725 50,668 50,707 50,650 
Effect of dilutive securities33 19 34 23 
Weighted-average common shares outstanding - diluted50,758 50,687 50,741 50,673 
Basic earnings per share$1.35 $1.27 $2.46 $2.18 
Diluted earnings per share$1.35 $1.27 $2.46 $2.18 
v3.23.2
COMMITMENTS:
 6 Months Ended
Jun. 30, 2023
Disclosure Text Block Supplement [Abstract]  
COMMITMENTS COMMITMENTS
 
Purchase Obligations
 
During the six months ended June 30, 2023, Idaho Power entered into:

•an agreement in April 2023 to utilize the storage capacity of a 150-megawatt (MW) battery storage facility, subject to regulatory approval, which increased Idaho Power's contractual purchase obligations by approximately $430.9 million over the 20-year term of the contract. The facility is scheduled to be online in June 2025;
•an agreement in May 2023 to replace an expiring PURPA-qualifying hydropower facility power purchase agreement, which increased Idaho Power's contractual purchase obligations by approximately $29.1 million over the 20-year term of the contract;
•an agreement in June 2023 to utilize up to one billion cubic feet of natural gas storage capacity, starting in April 2025, which increased Idaho Power's contractual purchase obligations by approximately $24.4 million over the 10-year term of the contract; and
•an agreement in June 2023 to acquire and own 36 MW of battery storage assets, which increased Idaho Power's contractual purchase obligations by approximately $52.6 million over the 1-year term of the contract. The batteries are scheduled to be online in the spring of 2024. During the six months ended June 30, 2023, Idaho Power made payments of $10.5 million related to this obligation.

In July 2023, Idaho Power entered into an agreement to meet certain environmental mitigation requirements in the State of Oregon for the Boardman-to-Hemingway transmission line project, which increased Idaho Power's contractual obligations by $16.9 million over the approximate 1-year term of the contract.

In July 2023, IFS committed to invest $35 million in an affordable housing tax credit project over an 18-year term.

Except as disclosed in this Note 8, during the six months ended June 30, 2023, IDACORP's and Idaho Power's contractual obligations, outside the ordinary course of business, did not change materially from the amounts disclosed in the notes to the consolidated financial statements in the 2022 Annual Report.

Acquisition of Additional Interest in Boardman-To-Hemingway Transmission Project

In March 2023, Idaho Power executed a purchase, sale, and security agreement with the Bonneville Power Administration (BPA) to transfer BPA's 24 percent interest in the Boardman-to-Hemingway transmission line project to Idaho Power, bringing Idaho Power's interest in the project to 45 percent. Pursuant to the agreement, Idaho Power has a commitment to provide long-term transmission service to BPA. The agreement also required BPA to make a $10 million security payment to Idaho Power. On Idaho Power's condensed consolidated balance sheet, the agreement increased construction work in progress by $31.4 million for the acquired permitting interest, cash and cash equivalents by $10.0 million for the additional security payment, and other non-current liabilities by $41.4 million for Idaho Power's obligation to pay for the permitting interest and to return the security deposit to BPA. Payments to BPA for the permitting interest are expected to be made over a 15-year period beginning 10 years after energization of the transmission line project, while the security deposit is due to be returned to BPA upon energization.

Guarantees
 
Idaho Power guarantees its portion of reclamation activities and obligations at BCC, of which IERCo owns a one-third interest. This guarantee, which is renewed annually with the Wyoming Department of Environmental Quality, was $47.3 million at June 30, 2023, representing IERCo's one-third share of BCC's total reclamation obligation of $141.9 million. BCC has a reclamation trust fund set aside specifically for the purpose of paying these reclamation costs. At June 30, 2023, the value of BCC's reclamation trust fund was $226.2 million. During the six months ended June 30, 2023, the reclamation trust fund made $2.2 million of distributions for reclamation activity costs associated with the BCC surface mine. BCC periodically assesses the adequacy of the reclamation trust fund and its estimate of future reclamation costs. To ensure that the reclamation trust fund maintains adequate reserves, BCC has the ability to, and does, add a per-ton surcharge to coal sales, all of which are made to the Jim Bridger plant. Because of the existence of the fund and the ability to apply a per-ton surcharge, the estimated fair value of this guarantee is minimal.
 
IDACORP and Idaho Power enter into financial agreements and power purchase and sale agreements that include indemnification provisions relating to various forms of claims or liabilities that may arise from the transactions contemplated by these agreements. Generally, a maximum obligation is not explicitly stated in the indemnification provisions and, therefore, the
overall maximum amount of the obligation under such indemnification provisions cannot be reasonably estimated. IDACORP and Idaho Power periodically evaluate the likelihood of incurring costs under such indemnities based on their historical experience and the evaluation of the specific indemnities. As of June 30, 2023, management believe the likelihood is remote that IDACORP or Idaho Power would be required to perform under such indemnification provisions or otherwise incur any significant losses with respect to such indemnification obligations. Neither IDACORP nor Idaho Power has recorded any liability on their respective condensed consolidated balance sheets with respect to these indemnification obligations.
v3.23.2
CONTINGENCIES:
 6 Months Ended
Jun. 30, 2023
Loss Contingency [Abstract]  
Contingencies CONTINGENCIES
 
IDACORP and Idaho Power have in the past and expect in the future to become involved in various claims, controversies, disputes, and other contingent matters, some of which involve litigation and regulatory or other contested proceedings. The ultimate resolution and outcome of litigation and regulatory proceedings is inherently difficult to determine, particularly where (a) the remedies or penalties sought are indeterminate, (b) the proceedings are in the early stages or the substantive issues have not been well developed, or (c) the matters involve complex or novel legal theories or a large number of parties. In accordance with applicable accounting guidance, IDACORP and Idaho Power, as applicable, establish an accrual for legal proceedings when those matters proceed to a stage where they present loss contingencies that are both probable and reasonably estimable. If the loss contingency at issue is not both probable and reasonably estimable, IDACORP and Idaho Power do not establish an accrual and the matter will continue to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. As of the date of this report, IDACORP's and Idaho Power's accruals for loss contingencies are not material to their financial statements as a whole; however, future accruals could be material in a given period. IDACORP's and Idaho Power's determination is based on currently available information, and estimates presented in financial statements and other financial disclosures involve significant judgment and may be subject to significant uncertainty. For matters that affect Idaho Power's operations, Idaho Power intends to seek, to the extent permissible and appropriate, recovery through the ratemaking process of costs incurred, although there is no assurance that such recovery would be granted.

IDACORP and Idaho Power are parties to legal claims and legal, tax, and regulatory actions and proceedings in the ordinary course of business and, as noted above, record an accrual for associated loss contingencies when they are probable and reasonably estimable. In connection with its utility operations, Idaho Power is subject to claims by individuals, entities, and governmental agencies for damages for alleged personal injury, property damage, and economic losses, relating to the company’s provision of electric service and the operation of its generation, transmission, and distribution facilities. Some of those claims relate to electrical contacts, service quality, property damage, and wildfires. In recent years, utilities in the western United States have been subject to significant liability for personal injury, loss of life, property damage, trespass, and economic losses, and in some cases, punitive damages and criminal charges, associated with wildfires that originated from utility property, most commonly transmission and distribution lines. Idaho Power has also regularly received claims by governmental agencies and private landowners for damages for fires allegedly originating from Idaho Power’s transmission and distribution system. As of the date of this report, the companies believe that resolution of existing claims will not have a material adverse effect on their respective condensed consolidated financial statements.

Idaho Power is also actively monitoring various pending environmental regulations and executive orders related to environmental matters that may have a significant impact on its future operations. Given uncertainties regarding the outcome, timing, and compliance plans for these environmental matters, Idaho Power is unable to estimate the financial impact of these regulations.
v3.23.2
BENEFIT PLANS:
 6 Months Ended
Jun. 30, 2023
Retirement Benefits, Description [Abstract]  
Benefit Plans BENEFIT PLANSIdaho Power has a noncontributory defined benefit pension plan (pension plan) and two nonqualified defined benefit plans for certain senior management employees called the Security Plan for Senior Management Employees I and Security Plan for Senior Management Employees II (together, SMSP). Idaho Power also has a nonqualified defined benefit pension plan for directors that was frozen in 2002. Remaining vested benefits from that plan are included with the SMSP in the disclosures below. The benefits under the pension plan are based on years of service and the employee’s final average earnings. Idaho Power also maintains a defined benefit postretirement benefit plan (consisting of health care and death benefits) that covers all employees who were enrolled in the active-employee group plan at the time of retirement as well as their spouses and
qualifying dependents. The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the three months ended June 30, 2023 and 2022 (in thousands).
Pension PlanSMSPPostretirement
Benefits		Total
 20232022202320222023202220232022
Service cost$8,078 $12,849 $153 $297 $151 $266 $8,382 $13,412 
Interest cost12,655 9,751 1,330 975 717 530 14,702 11,256 
Expected return on plan assets(15,434)(18,137)— — (407)(585)(15,841)(18,722)
Amortization of prior service cost1 1 55 69 417 (2)473 68 
Amortization of net loss— 2,589 143 1,058 (346)(5)(203)3,642 
Net periodic benefit cost5,300 7,053 1,681 2,399 532 204 7,513 9,656 
Regulatory deferral of net periodic benefit cost(1)
(5,061)(6,727)— — — — (5,061)(6,727)
Previously deferred pension costs recognized(1)
4,289 4,289 — — — — 4,289 4,289 
Net periodic benefit cost recognized for financial reporting(1)(2)
$4,528 $4,615 $1,681 $2,399 $532 $204 $6,741 $7,218 
 (1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
 (2) Of total net periodic benefit cost recognized for financial reporting, $5.1 million and $5.0 million, respectively, were recognized in "Other operations and maintenance" and $1.6 million and $2.2 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the three months ended June 30, 2023 and 2022.
The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the six months ended June 30, 2023 and 2022 (in thousands).
Pension PlanSMSPPostretirement
Benefits		Total
 20232022202320222023202220232022
Service cost$16,156 $26,013 $306 $593 $329 $536 $16,791 $27,142 
Interest cost25,309 19,835 2,661 1,949 1,490 1,056 29,460 22,840 
Expected return on plan assets(30,868)(36,174)— — (826)(1,176)(31,694)(37,350)
Amortization of prior service cost3 3 110 139 833 (3)946 139 
Amortization of net loss— 6,137 285 2,115 (618)(16)(333)8,236 
Net periodic benefit cost10,600 15,814 3,362 4,796 1,208 397 15,170 21,007 
Regulatory deferral of net periodic benefit cost(1)
(10,121)(15,100)— — — — (10,121)(15,100)
Previously deferred pension costs recognized(1)
8,577 8,577 — — — — 8,577 8,577 
Net periodic benefit cost recognized for financial reporting(1)(2)
$9,056 $9,291 $3,362 $4,796 $1,208 $397 $13,626 $14,484 
 (1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
 (2) Of total net periodic benefit cost recognized for financial reporting, $10.4 million and $9.9 million, respectively, were recognized in "Other operations and maintenance" and $3.2 million and $4.6 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the six months ended June 30, 2023 and 2022.

Idaho Power has no minimum contribution requirement to its defined benefit pension plan in 2023, and during the six months ended June 30, 2023, Idaho Power made a $10 million contribution. Idaho Power is considering contributing up to an additional $30 million to its defined benefit pension plan during 2023 in a continued effort to balance the regulatory collection of these expenditures with the amount and timing of contributions, as well as to mitigate the cost of being in an underfunded position. The primary impact of pension contributions is on the timing of cash flows, as the timing of cost recovery lags behind contributions.

Idaho Power also has an Employee Savings Plan that complies with Section 401(k) of the Internal Revenue Code and covers substantially all employees. Idaho Power matches specified percentages of employee contributions to the Employee Savings Plan.
v3.23.2
DERIVATIVE FINANCIAL INSTRUMENTS:
 6 Months Ended
Jun. 30, 2023
General Discussion of Derivative Instruments and Hedging Activities [Abstract]  
DERIVATIVE FINANCIAL INSTRUMENTS DERIVATIVE FINANCIAL INSTRUMENTS
 
Commodity Price Risk
 
Idaho Power is exposed to market risk relating to electricity, natural gas, and other fuel commodity prices, all of which are heavily influenced by supply and demand. Market risk may be influenced by market participants’ nonperformance of their contractual obligations and commitments, which affects the supply of or demand for the commodity. Idaho Power uses derivative instruments, such as physical and financial forward contracts, for both electricity and fuel to manage the risks relating to these commodity price exposures. The primary objectives of Idaho Power’s energy purchase and sale activity are to meet the demand of retail electric customers, maintain appropriate physical reserves to ensure reliability, and make economic use of temporary surpluses that may develop.
 
All of Idaho Power's derivative instruments have been entered into for the purpose of securing energy resources for future periods or economically hedging forecasted purchases and sales, though none of these instruments have been designated as cash flow hedges. Idaho Power offsets fair value amounts recognized on its balance sheet and applies collateral related to derivative instruments executed with the same counterparty under the same master netting agreement. Idaho Power does not offset a counterparty's current derivative contracts with the counterparty's long-term derivative contracts, although Idaho Power's master netting arrangements would allow current and long-term positions to be offset in the event of default. Also, in the event of default, Idaho Power's master netting arrangements would allow for the offsetting of all transactions executed under the master netting arrangement. These types of transactions may include non-derivative instruments, derivatives qualifying for scope exceptions, receivables and payables arising from settled positions, and other forms of non-cash collateral (such as letters of credit). These types of transactions are excluded from the offsetting presented in the derivative fair value and offsetting table that follows.

The table below presents the gains and losses on derivatives not designated as hedging instruments for the three months and six months ended June 30, 2023 and 2022 (in thousands of dollars):
Gain/(Loss) on Derivatives Recognized in Income(1)
Location of Realized Gain/(Loss) on Derivatives Recognized in IncomeThree months ended
June 30,		Six months ended
June 30,
2023202220232022
Financial swapsOperating revenues$5,042 $(1,577)$3,963 $(995)
Financial swapsPurchased power(1,733)(1,197)(107)(1,081)
Financial swapsFuel expense(11,422)2,991 12,114 4,451 
Forward contractsOperating revenues1,075 32 1,710 211 
Forward contractsPurchased power(1,449)(31)(2,049)(210)
Forward contractsFuel expense(19)(9)(439)(62)
(1) Excludes unrealized gains or losses on derivatives, which are recorded on the balance sheet as regulatory assets or regulatory liabilities.

Settlement gains and losses on electricity swap contracts are recorded on the income statement in operating revenues or purchased power depending on the forecasted position being economically hedged by the derivative contract. Settlement gains and losses on contracts for natural gas are reflected in fuel expense. Settlement gains and losses on diesel derivatives are recorded in other O&M expense. See Note 12 - "Fair Value Measurements" for additional information concerning the determination of fair value for Idaho Power’s assets and liabilities from price risk management activities.

Credit Risk
 
At June 30, 2023, Idaho Power did not have material credit risk exposure from financial instruments, including derivatives. Idaho Power monitors credit risk exposure through reviews of counterparty credit quality, corporate-wide counterparty credit exposure, and corporate-wide counterparty concentration levels. Idaho Power manages these risks by establishing credit and concentration limits on transactions with counterparties and requiring contractual guarantees, cash deposits, or letters of credit from counterparties or their affiliates, as deemed necessary. Idaho Power’s physical power contracts are commonly under WSPP, Inc. agreements, physical gas contracts are usually under North American Energy Standards Board contracts, and financial transactions are usually under International Swaps and Derivatives Association, Inc. contracts. These contracts typically contain adequate assurance clauses requiring collateralization if a counterparty has debt that is downgraded below investment grade by at least one rating agency.
Credit-Contingent Features
 
Certain of Idaho Power's derivative instruments contain provisions that require Idaho Power's unsecured debt to maintain an investment grade credit rating from Moody's and Standard & Poor's Ratings Services. If Idaho Power's unsecured debt were to fall below investment grade, it would be in violation of these provisions, and the counterparties to the derivative instruments could request immediate payment or demand immediate and ongoing full overnight collateralization on derivative instruments in net liability positions. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position at June 30, 2023, was $33.7 million. Idaho Power posted $44.4 million of cash collateral related to its derivative instruments. If the credit-risk-related contingent features underlying these agreements were triggered on June 30, 2023, Idaho Power would have been required to pay or post collateral to its counterparties up to an additional $9.2 million to cover open liability positions as well as completed transactions that have not yet been paid.

Derivative Instrument Summary

The table below presents the fair values and locations of derivative instruments not designated as hedging instruments recorded on the balance sheets and reconciles the gross amounts of derivatives recognized as assets and as liabilities to the net amounts presented in the balance sheets at June 30, 2023, and December 31, 2022 (in thousands of dollars):

Asset DerivativesLiability Derivatives
 Balance Sheet LocationGross Fair ValueAmounts OffsetNet AssetsGross Fair ValueAmounts OffsetNet Liabilities
June 30, 2023
Current:    
Financial swapsOther current assets$344 $(31)$313 $31 $(31)$— 
Financial swapsOther current liabilities4,110 (4,110)— 27,897 (21,648)
(1)
6,249 
Forward contractsOther current liabilities— — — 2,066 — 2,066 
Long-term:  
Financial swapsOther assets688 (348)340 348 (348)— 
Financial swapsOther liabilities371 (371)— 2,075 (2,075)
(2)
— 
Forward contractsOther liabilities— — — 1,363 — 1,363 
Total $5,513 $(4,860)$653 $33,780 $(24,102)$9,678 
December 31, 2022
Current:  
Financial swapsOther current assets$72,548 $(32,609)
(3)
$39,939 $13,982 $(13,982)$— 
Financial swapsOther current liabilities132 (132)— 1,577 (132)1,445 
Forward contractsOther current assets400 — 400 — — — 
Forward contractsOther current liabilities— — — 2,071 — 2,071 
Long-term:   
Financial swapsOther assets622 (43)579 43 (43)— 
Financial swapsOther liabilities644 (644)— 2,136 (644)1,492 
Forward contractsOther liabilities— — — 1,780 — 1,780 
Total $74,346 $(33,428)$40,918 $21,589 $(14,801)$6,788 
(1) Current liability derivative amounts offset include $17.5 million of collateral receivable at June 30, 2023.
(2) Long-term liability derivative amounts offset include $1.7 million of collateral receivable at June 30, 2023.
(3) Current asset derivative amounts offset include $18.6 million of collateral payable at December 31, 2022.
The table below presents the volumes of derivative commodity forward contracts and swaps outstanding at June 30, 2023 and 2022 (in thousands of units):
June 30,
CommodityUnits20232022
Electricity purchasesMWh792 541 
Electricity salesMWh17 118 
Natural gas purchasesMMBtu35,545 21,215 
Natural gas salesMMBtu310 — 
v3.23.2
FAIR VALUE MEASUREMENTS:
 6 Months Ended
Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
 
IDACORP and Idaho Power have categorized their financial instruments into a three-level fair value hierarchy, based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.

Financial assets and liabilities recorded on the condensed consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:
 
• Level 1: Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that IDACORP and Idaho Power have the ability to access.
 
•   Level 2: Financial assets and liabilities whose values are based on the following:
a) quoted prices for similar assets or liabilities in active markets;
b) quoted prices for identical or similar assets or liabilities in non-active markets;
c) pricing models whose inputs are observable for substantially the full term of the asset or liability; and
d) pricing models whose inputs are derived principally from or corroborated by observable market data through correlation or other means for substantially the full term of the asset or liability.
 
IDACORP and Idaho Power Level 2 inputs for derivative instruments are based on quoted market prices adjusted for location using corroborated, observable market data or using quoted price which may be in non-active markets.
 
•      Level 3: Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.
 
IDACORP’s and Idaho Power’s assessment of a particular input's significance to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy. There were no transfers between levels or material changes in valuation techniques or inputs during the six months ended June 30, 2023.

Certain instruments have been valued using net asset value (NAV) as a practical expedient. The NAV is generally not published and publicly available, nor are these instruments traded on an exchange. Instruments valued using NAV as a practical expedient are included in the fair value disclosures below; however, in accordance with GAAP are not classified within the fair value hierarchy levels.
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 June 30, 2023, and December 31, 2022 (in thousands of dollars).

June 30, 2023December 31, 2022
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:    
Money market funds and commercial paper
IDACORP(1)
$7,998 $— $— $7,998 $16,505 $— $— $16,505 
Idaho Power43,909 — — 43,909 34,468 — — 34,468 
Derivatives653 — — 653 40,518 400 — 40,918 
Equity securities31,617 — — 31,617 34,129 — — 34,129 
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)
— — — 3,236 — — — 2,796 
Liabilities:
Derivatives6,249 3,429 — 9,678 2,937 3,851 — 6,788 
 (1) Holding company only. Does not include amounts held by Idaho Power.

Idaho Power’s derivatives are contracts entered into as part of its management of loads and resources. Electricity swap derivatives are valued on the Intercontinental Exchange (ICE) with quoted prices in an active market. Electricity forward contract derivatives are valued using a blend of two electricity exchanges, adjusted for location basis, as specified in the forward contract. Natural gas and diesel derivatives are valued using New York Mercantile Exchange (NYMEX) and ICE pricing, adjusted for location basis, which are also quoted under NYMEX and ICE pricing. Equity securities at Idaho Power consist of employee-directed investments related to an executive deferred compensation plan and actively traded money market and exchange traded funds related to the SMSP. The investments are measured using quoted prices in active markets and are held in a rabbi trust.

The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value, as of June 30, 2023, and December 31, 2022, using available market information and appropriate valuation methodologies (in thousands of dollars).
 June 30, 2023December 31, 2022
 Carrying AmountEstimated Fair ValueCarrying AmountEstimated Fair Value
IDACORP    
Assets:    
Notes receivable(1)
$3,871 $3,871 $3,871 $3,871 
Held-to-maturity securities(1)(2)
30,996 26,499 30,475 25,452 
Liabilities:    
Long-term debt (including current portion)(1)
2,482,352 2,260,638 2,194,145 1,953,470 
Idaho Power    
Assets:
Held-to-maturity securities(1)(2)
$30,996 $26,499 $30,475 $25,452 
Liabilities:    
Long-term debt (including current portion)(1)
2,482,352 2,260,638 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 12 - "Fair Value Measurements."
(2) All held-to-maturity securities are carried at amortized cost and were in a gross unrealized holding loss position totaling $4.5 million and $5.0 million as of June 30, 2023, and December 31, 2022, respectively. Substantially all of these debt securities mature between 2027 and 2037. Based on ongoing credit evaluations of these holdings, Idaho Power does not expect payment defaults or delinquencies and had not recorded an allowance for credit losses for these securities as of June 30, 2023 and 2022.

Notes receivable are related to Ida-West and are valued based on unobservable inputs, including forecasted cash flows, which are partially based on expected hydropower conditions. Held-to-maturity securities are held in a rabbi trust and are generally valued using quoted prices which may be in non-active markets. Long-term debt is not traded on an exchange and is valued
using quoted rates for similar debt in active markets. Carrying values for cash and cash equivalents, deposits, customer and other receivables, notes payable, accounts payable, interest accrued, and taxes accrued approximate fair value.
v3.23.2
SEGMENT INFORMATION:
 6 Months Ended
Jun. 30, 2023
Segment Reporting, Measurement Disclosures [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
 
IDACORP’s only reportable segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power’s regulated operations include the generation, transmission, distribution, purchase, and sale of electricity. This segment also includes income from IERCo, a wholly-owned subsidiary of Idaho Power that is also subject to regulation and is a one-third owner of BCC, an unconsolidated joint venture.
 
IDACORP’s other operating segments are below the quantitative and qualitative thresholds for reportable segments and are included in the "All Other" category in the table below. This category is comprised of IFS’s investments in affordable housing and other real estate tax credit projects, Ida-West’s joint venture investments in small hydropower generation projects, and IDACORP’s holding company expenses.
 
The table below summarizes the segment information for IDACORP’s utility operations and the total of all other segments, and reconciles this information to total enterprise amounts (in thousands). 
Utility
Operations		All
Other		EliminationsConsolidated
Total
Three months ended June 30, 2023:    
Revenues$412,727 $1,111 $— $413,838 
Net income attributable to IDACORP, Inc.67,080 1,494 — 68,574 
Total assets as of June 30, 20237,747,117 211,650 (119,699)7,839,068 
Three months ended June 30, 2022:
Revenues$357,668 $1,055 $— $358,723 
Net income attributable to IDACORP, Inc.62,435 1,852 — 64,287 
Six months ended June 30, 2023:
Revenues$842,065 $1,432 $— $843,497 
Net income attributable to IDACORP, Inc.122,790 1,882 — 124,672 
Six months ended June 30, 2022:
Revenues$701,589 $1,422 $— $703,011 
Net income attributable to IDACORP, Inc.108,649 1,899 — 110,548 
v3.23.2
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Notes)
 6 Months Ended
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]  
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME
The table below presents changes in components of accumulated other comprehensive income (AOCI), net of tax, during the three months and six months ended June 30, 2023 and 2022 (in thousands). Items in parentheses indicate charges to AOCI.
Defined Benefit Pension ItemsDefined Benefit Pension Items
Three months ended
June 30,		Six months ended
June 30,
2023202220232022
Balance at beginning of period$(12,776)$(39,203)$(12,922)$(40,040)
Amounts reclassified out of AOCI147 837 293 1,674 
Balance at end of period$(12,629)$(38,366)$(12,629)$(38,366)
The table below presents amounts reclassified out of components of AOCI and the income statement location of those amounts reclassified during the three months and six months ended June 30, 2023 and 2022 (in thousands). Items in parentheses indicate increases to net income.
Amount Reclassified from AOCI
Details About AOCIThree months ended
June 30,		Six months ended
June 30,
2023202220232022
Amortization of defined benefit pension items(1)
Prior service cost$55 $69 $110 $139 
Net loss143 1,058 285 2,115 
Total before tax198 1,127 395 2,254 
Tax benefit(2)
(51)(290)(102)(580)
Total reclassification for the period, net of tax$147 $837 $293 $1,674 
(1) Amortization of these items is included in IDACORP's condensed consolidated income statements in other operating expenses and in Idaho Power's condensed consolidated statements of income in other expense, net.
(2) The tax benefit is included in income tax expense in the condensed consolidated statements of income of both IDACORP and Idaho Power.
v3.23.2
CHANGES IN IDAHO POWER RETAINED EARNINGS (Notes)
 6 Months Ended
Jun. 30, 2023
Changes in Idaho Power Retained Earnings [Abstract]  
CHANGES IN IDAHO POWER RETAINED EARNINGS CHANGES IN IDAHO POWER RETAINED EARNINGS
The table below presents changes in Idaho Power retained earnings during the three months and six months ended June 30, 2023 and 2022 (in thousands).
Three months ended
June 30,		Six months ended
June 30,
2023202220232022
Balance at beginning of period$1,891,898 $1,704,320 $1,836,547 $1,696,304 
Net income67,080 62,435 122,790 108,649 
Dividends to parent(40,219)(38,120)(40,578)(76,318)
Balance at end of period$1,918,759 $1,728,635 $1,918,759 $1,728,635 
v3.23.2
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Pay vs Performance Disclosure        
Net Income Attributable to IDACORP, Inc. $ 68,574 $ 64,287 $ 124,672 $ 110,548
v3.23.2
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2023
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.23.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Organization, Consolidation, Presentation, and Significant Accounting Policies (Policies)
 6 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]  
Nature of Business
IDACORP is a holding company formed in 1998 whose principal operating subsidiary is Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale, and purchase of electric energy and capacity with a service area covering approximately 24,000 square miles in southern Idaho and eastern Oregon. Idaho Power is regulated primarily by the state utility regulatory commissions of Idaho and Oregon and the Federal Energy Regulatory Commission. Idaho Power is the parent of Idaho Energy Resources Co. (IERCo), a joint venturer in Bridger Coal Company (BCC), which mines and supplies coal to the Jim Bridger power plant (Jim Bridger plant) owned in part by Idaho Power.
 
IDACORP’s other notable wholly-owned subsidiaries include IDACORP Financial Services, Inc. (IFS), an investor in affordable housing and other real estate tax credit investments, and Ida-West Energy Company (Ida-West), an operator of small hydropower generation projects that satisfy the requirements of the Public Utility Regulatory Policies Act of 1978 (PURPA).
Regulation of Utility Operations As a regulated utility, many of Idaho Power's fundamental business decisions are subject to the approval of governmental agencies, including the prices that Idaho Power is authorized to charge for its electric service. These approvals are a critical factor in determining IDACORP's and Idaho Power's results of operations and financial condition.IDACORP's and Idaho Power's financial statements reflect the effects of the different ratemaking principles followed by the jurisdictions regulating Idaho Power. The application of accounting principles related to regulated operations sometimes results in Idaho Power recording expenses and revenues in a different period than when an unregulated enterprise would record such expenses and revenues. In these instances, the amounts are deferred or accrued as regulatory assets or regulatory liabilities on the balance sheet. Regulatory assets represent incurred costs that have been deferred because it is probable they will be recovered from customers through future rates. Regulatory liabilities represent obligations to make refunds to customers for previous collections, or represent amounts collected in advance of incurring an expense.
Financial Statements In the opinion of management of IDACORP and Idaho Power, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly each company's condensed consolidated balance sheets as of June 30, 2023, condensed consolidated statements of income for the three months and six months ended June 30, 2023 and 2022, and condensed consolidated cash flows for the six months ended June 30, 2023 and 2022. These adjustments are of a normal and recurring nature. These financial statements do not contain the complete detail or note disclosures concerning accounting policies and other matters that would be included in full-year financial statements and should be read in conjunction with the audited consolidated financial statements included in IDACORP’s and Idaho Power’s Annual Report on Form 10-K for the year ended December 31, 2022 (2022 Annual Report). The statements of income for the interim period are not necessarily indicative of the results to be expected for the full year. A change in management's estimates or assumptions could have a material impact on IDACORP's or Idaho Power's respective balance sheets and statements of income during the period in which such change occurred.
Management Estimates Management makes estimates and assumptions when preparing financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP). These estimates and assumptions include, among others, those related to rate regulation, retirement benefits, contingencies, asset impairment, income taxes, unbilled revenues, and bad debt. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates involve judgments with respect to, among other things, future economic factors that are difficult to predict and are beyond management's control. Accordingly, actual results could differ from those estimates.
New and Recently Adopted Accounting Pronouncements There have been no recently issued accounting pronouncements that have had or are expected to have a material impact on IDACORP's or Idaho Power's condensed consolidated financial statements.
Income Tax In accordance with interim reporting requirements, IDACORP and Idaho Power use an estimated annual effective tax rate for computing their provisions for income taxes. An estimate of annual income tax expense (or benefit) is made each interim period using estimates for annual pre-tax income, income tax adjustments, and tax credits. The estimated annual effective tax rates do not include discrete events such as tax law changes, examination settlements, accounting method changes, or adjustments to tax expense or benefits attributable to prior years. Discrete events are recorded in the interim period in which they occur or become known. The estimated annual effective tax rate is applied to year-to-date pre-tax income to determine income tax expense (or benefit) for the interim period consistent with the annual estimate. In subsequent interim periods, income tax expense (or benefit) for the period is computed as the difference between the year-to-date amount reported for the previous interim period and the current period's year-to-date amount.
Revenue Recognition The FCA mechanism revenues include only the initial recognition of FCA revenues when they meet the regulator-specified conditions for recognition. Revenue from contracts with customers excludes the portion of the tariff price representing FCA revenues that Idaho Power initially recorded in prior periods when revenues met regulator-specified conditions. When Idaho Power includes those amounts in the price of utility service and billed to customers, Idaho Power records such amounts as recovery of the associated regulatory asset or liability and not as revenues. Derivative revenues include gains from settled electricity swaps and sales of electricity under forward sales contracts that are bundled with renewable energy credits. Related to these forward sales, Idaho Power simultaneously enters into forward purchases of electricity for the same quantity at the same location, which are recorded in purchased power on the condensed consolidated statements of income.
Fair Value of Financial Instruments
IDACORP and Idaho Power have categorized their financial instruments into a three-level fair value hierarchy, based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.

Financial assets and liabilities recorded on the condensed consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:
 
• Level 1: Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that IDACORP and Idaho Power have the ability to access.
 
•   Level 2: Financial assets and liabilities whose values are based on the following:
a) quoted prices for similar assets or liabilities in active markets;
b) quoted prices for identical or similar assets or liabilities in non-active markets;
c) pricing models whose inputs are observable for substantially the full term of the asset or liability; and
d) pricing models whose inputs are derived principally from or corroborated by observable market data through correlation or other means for substantially the full term of the asset or liability.
 
IDACORP and Idaho Power Level 2 inputs for derivative instruments are based on quoted market prices adjusted for location using corroborated, observable market data or using quoted price which may be in non-active markets.
 
•      Level 3: Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability.
 
IDACORP’s and Idaho Power’s assessment of a particular input's significance to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy.
Derivatives, Methods of Accounting, Derivatives Not Designated or Qualifying as Hedges [Policy Text Block]
Idaho Power is exposed to market risk relating to electricity, natural gas, and other fuel commodity prices, all of which are heavily influenced by supply and demand. Market risk may be influenced by market participants’ nonperformance of their contractual obligations and commitments, which affects the supply of or demand for the commodity. Idaho Power uses derivative instruments, such as physical and financial forward contracts, for both electricity and fuel to manage the risks relating to these commodity price exposures. The primary objectives of Idaho Power’s energy purchase and sale activity are to meet the demand of retail electric customers, maintain appropriate physical reserves to ensure reliability, and make economic use of temporary surpluses that may develop.
 
All of Idaho Power's derivative instruments have been entered into for the purpose of securing energy resources for future periods or economically hedging forecasted purchases and sales, though none of these instruments have been designated as cash flow hedges. Idaho Power offsets fair value amounts recognized on its balance sheet and applies collateral related to derivative instruments executed with the same counterparty under the same master netting agreement. Idaho Power does not offset a counterparty's current derivative contracts with the counterparty's long-term derivative contracts, although Idaho Power's master netting arrangements would allow current and long-term positions to be offset in the event of default. Also, in the event of default, Idaho Power's master netting arrangements would allow for the offsetting of all transactions executed under the master netting arrangement. These types of transactions may include non-derivative instruments, derivatives qualifying for scope exceptions, receivables and payables arising from settled positions, and other forms of non-cash collateral (such as letters of credit).
Derivatives, Reporting of Derivative Activity Settlement gains and losses on electricity swap contracts are recorded on the income statement in operating revenues or purchased power depending on the forecasted position being economically hedged by the derivative contract. Settlement gains and losses on contracts for natural gas are reflected in fuel expense. Settlement gains and losses on diesel derivatives are recorded in other O&M expense.
Segment Reporting
IDACORP’s only reportable segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power’s regulated operations include the generation, transmission, distribution, purchase, and sale of electricity. This segment also includes income from IERCo, a wholly-owned subsidiary of Idaho Power that is also subject to regulation and is a one-third owner of BCC, an unconsolidated joint venture.
 
IDACORP’s other operating segments are below the quantitative and qualitative thresholds for reportable segments and are included in the "All Other" category in the table below. This category is comprised of IFS’s investments in affordable housing and other real estate tax credit projects, Ida-West’s joint venture investments in small hydropower generation projects, and IDACORP’s holding company expenses.
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy
Receivables and Allowance for Uncollectible Accounts

The following table provides a rollforward of the allowance for uncollectible accounts related to customer receivables for the six months ended June 30, 2023 and 2022 (in thousands):
Six months ended
June 30,
 20232022
Balance at beginning of period$5,034 $4,499 
Additions to the allowance739 478 
Write-offs, net of recoveries(1,917)(1,056)
Balance at end of period$3,856 $3,921 
Allowance for uncollectible accounts as a percentage of customer receivables3.3 %4.3 %
v3.23.2
Organization, Consolidation and Presentation of Financial Statements (Tables)
 6 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The table below presents the fair values and locations of derivative instruments not designated as hedging instruments recorded on the balance sheets and reconciles the gross amounts of derivatives recognized as assets and as liabilities to the net amounts presented in the balance sheets at June 30, 2023, and December 31, 2022 (in thousands of dollars):

Asset DerivativesLiability Derivatives
 Balance Sheet LocationGross Fair ValueAmounts OffsetNet AssetsGross Fair ValueAmounts OffsetNet Liabilities
June 30, 2023
Current:    
Financial swapsOther current assets$344 $(31)$313 $31 $(31)$— 
Financial swapsOther current liabilities4,110 (4,110)— 27,897 (21,648)
(1)
6,249 
Forward contractsOther current liabilities— — — 2,066 — 2,066 
Long-term:  
Financial swapsOther assets688 (348)340 348 (348)— 
Financial swapsOther liabilities371 (371)— 2,075 (2,075)
(2)
— 
Forward contractsOther liabilities— — — 1,363 — 1,363 
Total $5,513 $(4,860)$653 $33,780 $(24,102)$9,678 
December 31, 2022
Current:  
Financial swapsOther current assets$72,548 $(32,609)
(3)
$39,939 $13,982 $(13,982)$— 
Financial swapsOther current liabilities132 (132)— 1,577 (132)1,445 
Forward contractsOther current assets400 — 400 — — — 
Forward contractsOther current liabilities— — — 2,071 — 2,071 
Long-term:   
Financial swapsOther assets622 (43)579 43 (43)— 
Financial swapsOther liabilities644 (644)— 2,136 (644)1,492 
Forward contractsOther liabilities— — — 1,780 — 1,780 
Total $74,346 $(33,428)$40,918 $21,589 $(14,801)$6,788 
(1) Current liability derivative amounts offset include $17.5 million of collateral receivable at June 30, 2023.
(2) Long-term liability derivative amounts offset include $1.7 million of collateral receivable at June 30, 2023.
(3) Current asset derivative amounts offset include $18.6 million of collateral payable at December 31, 2022.
v3.23.2
INCOME TAXES: Level 3 (Tables)
 6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The following table provides a summary of income tax expense for the six months ended June 30, 2023 and 2022 (in thousands): 
 IDACORPIdaho Power
 2023202220232022
Income tax at statutory rates (federal and state)$36,010 $32,140 $35,697 $32,088 
Additional accumulated deferred investment tax credits (ADITC)
  amortization		(7,500)— (7,500)— 
Excess deferred income tax reversal(5,342)(5,703)(5,342)(5,703)
Other(1)
(7,942)(12,120)(6,961)(10,372)
Income tax expense$15,226 $14,317 $15,894 $16,013 
Effective tax rate10.9 %11.5 %11.5 %12.8 %
(1) "Other" is primarily comprised of the net tax effect of Idaho Power's regulatory flow-through tax adjustments.
v3.23.2
REVENUES: Electric utility operating revenues (Tables)
 6 Months Ended
Jun. 30, 2023
Revenues [Abstract]  
Electric utility operating revenues [Table Text Block]
The following table provides a summary of electric utility operating revenues for IDACORP and Idaho Power for the three months and six months ended June 30, 2023 and 2022 (in thousands):
Three months ended
June 30,		Six months ended
June 30,
 2023202220232022
Revenue from contracts with customers$385,229 $345,483 $770,895 $663,665 
Alternative revenue programs and other revenues27,498 12,185 71,170 37,924 
Total electric utility operating revenues$412,727 $357,668 $842,065 $701,589 
Disaggregation of Revenue [Table Text Block]
The following table presents revenues from contracts with customers disaggregated by revenue source for the three months and six months ended June 30, 2023 and 2022 (in thousands):
Three months ended
June 30,		Six months ended
June 30,
 2023202220232022
Retail revenues:
Residential (includes $5,678, $5,459, $14,587, and $15,551, respectively, related to the FCA)(1)
$134,885 $124,593 $323,422 $293,888 
Commercial (includes $296, $304, $572, and $588, respectively, related to the FCA)(1)
87,677 79,260 175,507 157,826 
Industrial58,245 51,987 113,789 101,047 
Irrigation62,781 57,659 63,713 58,700 
Deferred revenue related to HCC relicensing AFUDC(2)
(1,927)(1,927)(4,046)(4,046)
Total retail revenues341,661 311,572 672,385 607,415 
Less: FCA mechanism revenues(1)
(5,974)(5,763)(15,159)(16,139)
Wholesale energy sales15,201 6,980 45,397 10,015 
Transmission wheeling-related revenues20,026 18,323 41,611 34,788 
Energy efficiency program revenues6,552 6,609 11,767 13,198 
Other revenues from contracts with customers7,763 7,762 14,894 14,388 
Total revenues from contracts with customers$385,229 $345,483 $770,895 $663,665 
(1) The FCA mechanism is an alternative revenue program in the Idaho jurisdiction and does not represent revenue from contracts with customers.
(2) The IPUC allows Idaho Power to recover a portion of the allowance for funds used during construction (AFUDC) on construction work in progress related to the Hells Canyon Complex (HCC) relicensing process, even though the relicensing process is not yet complete and the costs have not been moved to electric plant in service. Idaho Power is collecting $8.8 million annually in the Idaho jurisdiction but is deferring revenue recognition of the amounts collected until the license is issued and the accumulated license costs approved for recovery are placed in service.
Alternative revenue programs and other revenues [Table Text Block]
The table below presents the FCA mechanism revenues and other revenues for the three months and six months ended June 30, 2023 and 2022 (in thousands):
Three months ended
June 30,		Six months ended
June 30,
 2023202220232022
FCA mechanism revenues$5,974 $5,763 $15,159 $16,139 
Derivative revenues21,524 6,422 56,011 21,785 
Total alternative revenue programs and other revenues$27,498 $12,185 $71,170 $37,924 
Accounts Receivable, Allowance for Credit Loss [Table Text Block]
The following table provides a rollforward of the allowance for uncollectible accounts related to customer receivables for the six months ended June 30, 2023 and 2022 (in thousands):
Six months ended
June 30,
 20232022
Balance at beginning of period$5,034 $4,499 
Additions to the allowance739 478 
Write-offs, net of recoveries(1,917)(1,056)
Balance at end of period$3,856 $3,921 
Allowance for uncollectible accounts as a percentage of customer receivables3.3 %4.3 %
v3.23.2
EARNINGS PER SHARE: Level 3 (Tables)
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method
The table below presents the computation of IDACORP’s basic and diluted earnings per share for the three months and six months ended June 30, 2023 and 2022 (in thousands, except for per share amounts).
Three months ended
June 30,		Six months ended
June 30,
 2023202220232022
Numerator:    
Net income attributable to IDACORP, Inc.$68,574 $64,287 $124,672 $110,548 
Denominator:  
Weighted-average common shares outstanding - basic50,725 50,668 50,707 50,650 
Effect of dilutive securities33 19 34 23 
Weighted-average common shares outstanding - diluted50,758 50,687 50,741 50,673 
Basic earnings per share$1.35 $1.27 $2.46 $2.18 
Diluted earnings per share$1.35 $1.27 $2.46 $2.18 
v3.23.2
BENEFIT PLANS: Level 3 (Tables)
 3 Months Ended
Jun. 30, 2023
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Plans Disclosures [Table Text Block] The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the three months ended June 30, 2023 and 2022 (in thousands).
Pension PlanSMSPPostretirement
Benefits		Total
 20232022202320222023202220232022
Service cost$8,078 $12,849 $153 $297 $151 $266 $8,382 $13,412 
Interest cost12,655 9,751 1,330 975 717 530 14,702 11,256 
Expected return on plan assets(15,434)(18,137)— — (407)(585)(15,841)(18,722)
Amortization of prior service cost1 1 55 69 417 (2)473 68 
Amortization of net loss— 2,589 143 1,058 (346)(5)(203)3,642 
Net periodic benefit cost5,300 7,053 1,681 2,399 532 204 7,513 9,656 
Regulatory deferral of net periodic benefit cost(1)
(5,061)(6,727)— — — — (5,061)(6,727)
Previously deferred pension costs recognized(1)
4,289 4,289 — — — — 4,289 4,289 
Net periodic benefit cost recognized for financial reporting(1)(2)
$4,528 $4,615 $1,681 $2,399 $532 $204 $6,741 $7,218 
 (1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
 (2) Of total net periodic benefit cost recognized for financial reporting, $5.1 million and $5.0 million, respectively, were recognized in "Other operations and maintenance" and $1.6 million and $2.2 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the three months ended June 30, 2023 and 2022.
The table below shows the components of net periodic benefit costs for the pension, SMSP, and postretirement benefits plans for the six months ended June 30, 2023 and 2022 (in thousands).
Pension PlanSMSPPostretirement
Benefits		Total
 20232022202320222023202220232022
Service cost$16,156 $26,013 $306 $593 $329 $536 $16,791 $27,142 
Interest cost25,309 19,835 2,661 1,949 1,490 1,056 29,460 22,840 
Expected return on plan assets(30,868)(36,174)— — (826)(1,176)(31,694)(37,350)
Amortization of prior service cost3 3 110 139 833 (3)946 139 
Amortization of net loss— 6,137 285 2,115 (618)(16)(333)8,236 
Net periodic benefit cost10,600 15,814 3,362 4,796 1,208 397 15,170 21,007 
Regulatory deferral of net periodic benefit cost(1)
(10,121)(15,100)— — — — (10,121)(15,100)
Previously deferred pension costs recognized(1)
8,577 8,577 — — — — 8,577 8,577 
Net periodic benefit cost recognized for financial reporting(1)(2)
$9,056 $9,291 $3,362 $4,796 $1,208 $397 $13,626 $14,484 
 (1) Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
 (2) Of total net periodic benefit cost recognized for financial reporting, $10.4 million and $9.9 million, respectively, were recognized in "Other operations and maintenance" and $3.2 million and $4.6 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the six months ended June 30, 2023 and 2022.
v3.23.2
DERIVATIVE FINANCIAL INSTRUMENTS: Level 3 (Tables)
 6 Months Ended
Jun. 30, 2023
Summary of Derivative Instruments [Abstract]  
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The table below presents the gains and losses on derivatives not designated as hedging instruments for the three months and six months ended June 30, 2023 and 2022 (in thousands of dollars):
Gain/(Loss) on Derivatives Recognized in Income(1)
Location of Realized Gain/(Loss) on Derivatives Recognized in IncomeThree months ended
June 30,		Six months ended
June 30,
2023202220232022
Financial swapsOperating revenues$5,042 $(1,577)$3,963 $(995)
Financial swapsPurchased power(1,733)(1,197)(107)(1,081)
Financial swapsFuel expense(11,422)2,991 12,114 4,451 
Forward contractsOperating revenues1,075 32 1,710 211 
Forward contractsPurchased power(1,449)(31)(2,049)(210)
Forward contractsFuel expense(19)(9)(439)(62)
(1) Excludes unrealized gains or losses on derivatives, which are recorded on the balance sheet as regulatory assets or regulatory liabilities.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The table below presents the fair values and locations of derivative instruments not designated as hedging instruments recorded on the balance sheets and reconciles the gross amounts of derivatives recognized as assets and as liabilities to the net amounts presented in the balance sheets at June 30, 2023, and December 31, 2022 (in thousands of dollars):

Asset DerivativesLiability Derivatives
 Balance Sheet LocationGross Fair ValueAmounts OffsetNet AssetsGross Fair ValueAmounts OffsetNet Liabilities
June 30, 2023
Current:    
Financial swapsOther current assets$344 $(31)$313 $31 $(31)$— 
Financial swapsOther current liabilities4,110 (4,110)— 27,897 (21,648)
(1)
6,249 
Forward contractsOther current liabilities— — — 2,066 — 2,066 
Long-term:  
Financial swapsOther assets688 (348)340 348 (348)— 
Financial swapsOther liabilities371 (371)— 2,075 (2,075)
(2)
— 
Forward contractsOther liabilities— — — 1,363 — 1,363 
Total $5,513 $(4,860)$653 $33,780 $(24,102)$9,678 
December 31, 2022
Current:  
Financial swapsOther current assets$72,548 $(32,609)
(3)
$39,939 $13,982 $(13,982)$— 
Financial swapsOther current liabilities132 (132)— 1,577 (132)1,445 
Forward contractsOther current assets400 — 400 — — — 
Forward contractsOther current liabilities— — — 2,071 — 2,071 
Long-term:   
Financial swapsOther assets622 (43)579 43 (43)— 
Financial swapsOther liabilities644 (644)— 2,136 (644)1,492 
Forward contractsOther liabilities— — — 1,780 — 1,780 
Total $74,346 $(33,428)$40,918 $21,589 $(14,801)$6,788 
(1) Current liability derivative amounts offset include $17.5 million of collateral receivable at June 30, 2023.
(2) Long-term liability derivative amounts offset include $1.7 million of collateral receivable at June 30, 2023.
(3) Current asset derivative amounts offset include $18.6 million of collateral payable at December 31, 2022.
Schedule of Derivative Instruments
The table below presents the volumes of derivative commodity forward contracts and swaps outstanding at June 30, 2023 and 2022 (in thousands of units):
June 30,
CommodityUnits20232022
Electricity purchasesMWh792 541 
Electricity salesMWh17 118 
Natural gas purchasesMMBtu35,545 21,215 
Natural gas salesMMBtu310 — 
v3.23.2
FAIR VALUE MEASUREMENTS: Level 3 (Tables)
 6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
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 June 30, 2023, and December 31, 2022 (in thousands of dollars).

June 30, 2023December 31, 2022
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:    
Money market funds and commercial paper
IDACORP(1)
$7,998 $— $— $7,998 $16,505 $— $— $16,505 
Idaho Power43,909 — — 43,909 34,468 — — 34,468 
Derivatives653 — — 653 40,518 400 — 40,918 
Equity securities31,617 — — 31,617 34,129 — — 34,129 
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)
— — — 3,236 — — — 2,796 
Liabilities:
Derivatives6,249 3,429 — 9,678 2,937 3,851 — 6,788 
 (1) Holding company only. Does not include amounts held by Idaho Power.
Fair Value, by Balance Sheet Grouping [Table Text Block]
The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value, as of June 30, 2023, and December 31, 2022, using available market information and appropriate valuation methodologies (in thousands of dollars).
 June 30, 2023December 31, 2022
 Carrying AmountEstimated Fair ValueCarrying AmountEstimated Fair Value
IDACORP    
Assets:    
Notes receivable(1)
$3,871 $3,871 $3,871 $3,871 
Held-to-maturity securities(1)(2)
30,996 26,499 30,475 25,452 
Liabilities:    
Long-term debt (including current portion)(1)
2,482,352 2,260,638 2,194,145 1,953,470 
Idaho Power    
Assets:
Held-to-maturity securities(1)(2)
$30,996 $26,499 $30,475 $25,452 
Liabilities:    
Long-term debt (including current portion)(1)
2,482,352 2,260,638 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 12 - "Fair Value Measurements."
(2) All held-to-maturity securities are carried at amortized cost and were in a gross unrealized holding loss position totaling $4.5 million and $5.0 million as of June 30, 2023, and December 31, 2022, respectively. Substantially all of these debt securities mature between 2027 and 2037. Based on ongoing credit evaluations of these holdings, Idaho Power does not expect payment defaults or delinquencies and had not recorded an allowance for credit losses for these securities as of June 30, 2023 and 2022.
v3.23.2
SEGMENT INFORMATION: Level 3 (Tables)
 6 Months Ended
Jun. 30, 2023
Segment Information [Abstract]  
Schedule of Segment Reporting Information, by Segment
The table below summarizes the segment information for IDACORP’s utility operations and the total of all other segments, and reconciles this information to total enterprise amounts (in thousands). 
Utility
Operations		All
Other		EliminationsConsolidated
Total
Three months ended June 30, 2023:    
Revenues$412,727 $1,111 $— $413,838 
Net income attributable to IDACORP, Inc.67,080 1,494 — 68,574 
Total assets as of June 30, 20237,747,117 211,650 (119,699)7,839,068 
Three months ended June 30, 2022:
Revenues$357,668 $1,055 $— $358,723 
Net income attributable to IDACORP, Inc.62,435 1,852 — 64,287 
Six months ended June 30, 2023:
Revenues$842,065 $1,432 $— $843,497 
Net income attributable to IDACORP, Inc.122,790 1,882 — 124,672 
Six months ended June 30, 2022:
Revenues$701,589 $1,422 $— $703,011 
Net income attributable to IDACORP, Inc.108,649 1,899 — 110,548 
v3.23.2
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)
 6 Months Ended
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The table below presents changes in components of accumulated other comprehensive income (AOCI), net of tax, during the three months and six months ended June 30, 2023 and 2022 (in thousands). Items in parentheses indicate charges to AOCI.
Defined Benefit Pension ItemsDefined Benefit Pension Items
Three months ended
June 30,		Six months ended
June 30,
2023202220232022
Balance at beginning of period$(12,776)$(39,203)$(12,922)$(40,040)
Amounts reclassified out of AOCI147 837 293 1,674 
Balance at end of period$(12,629)$(38,366)$(12,629)$(38,366)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
The table below presents amounts reclassified out of components of AOCI and the income statement location of those amounts reclassified during the three months and six months ended June 30, 2023 and 2022 (in thousands). Items in parentheses indicate increases to net income.
Amount Reclassified from AOCI
Details About AOCIThree months ended
June 30,		Six months ended
June 30,
2023202220232022
Amortization of defined benefit pension items(1)
Prior service cost$55 $69 $110 $139 
Net loss143 1,058 285 2,115 
Total before tax198 1,127 395 2,254 
Tax benefit(2)
(51)(290)(102)(580)
Total reclassification for the period, net of tax$147 $837 $293 $1,674 
(1) Amortization of these items is included in IDACORP's condensed consolidated income statements in other operating expenses and in Idaho Power's condensed consolidated statements of income in other expense, net.
(2) The tax benefit is included in income tax expense in the condensed consolidated statements of income of both IDACORP and Idaho Power.
v3.23.2
CHANGES IN IDAHO POWER RETAINED EARNINGS (Tables)
 6 Months Ended
Jun. 30, 2023
Changes in Idaho Power Retained Earnings [Abstract]  
Changes in Idaho Power Retained Earnings Table
Three months ended
June 30,		Six months ended
June 30,
2023202220232022
Balance at beginning of period$1,891,898 $1,704,320 $1,836,547 $1,696,304 
Net income67,080 62,435 122,790 108,649 
Dividends to parent(40,219)(38,120)(40,578)(76,318)
Balance at end of period$1,918,759 $1,728,635 $1,918,759 $1,728,635 
v3.23.2
INCOME TAXES: Level 4 (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Tax Expense [Line Items]        
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount     $ 36,010 $ 32,140
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount     (7,500) 0
Excess deferred income tax reversal     (5,342) (5,703)
Other [1]     (7,942) (12,120)
Income Tax Expense $ 8,131 $ 8,291 $ 15,226 $ 14,317
Effective tax rate     10.90% 11.50%
Idaho Power Company [Member]        
Income Tax Expense [Line Items]        
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount     $ 35,697 $ 32,088
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount     (7,500) 0
Excess deferred income tax reversal     (5,342) (5,703)
Other [1]     (6,961) (10,372)
Income Tax Expense $ 8,284 $ 9,316 $ 15,894 $ 16,013
Effective tax rate     11.50% 12.80%
[1] "Other" is primarily comprised of the net tax effect of Idaho Power's regulatory flow-through tax adjustments.
v3.23.2
REGULATORY MATTERS: Level 4 (Details) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended 24 Months Ended
Jun. 01, 2022
Jun. 30, 2023
Jun. 30, 2023
Jun. 30, 2022
May 31, 2025
Dec. 31, 2024
May 31, 2024
May 31, 2025
Jun. 01, 2023
Jun. 30, 2021
Jun. 01, 2020
May 31, 2018
Settlement Stipulation - Investment Tax Credits and Idaho Sharing Mechanism                        
Regulatory Matters                        
Additional accumulated deferred investment tax credits (ADITC) amortization   $ 3,800,000 $ 7,500,000 $ 0                
May 2018 Tax Reform Settlement Stipulation                        
Regulatory Matters                        
Investment Tax Credits, Maximum, in Rate Case   37,500,000 37,500,000                  
Idaho fixed cost adjustment mechanism                        
Regulatory Matters                        
Percentage cap on the FCA adjustment                     3.00%  
Idaho Jurisdiction Fixed Cost Adjustment                        
Regulatory Matters                        
Annual fixed cost adjustment mechanism deferral $ 35,200,000               $ 25,100,000      
Oregon jurisdiction                        
Regulatory Matters                        
Annual Power Cost Update                 7,700,000      
Subsequent Event | Idaho Power Cost Adjustment                        
Regulatory Matters                        
Public Utilities, Approved Rate Increase (Decrease), Amount         $ 95,100,000   $ 105,100,000 $ 200,200,000        
Subsequent Event | Idaho Jurisdiction Fixed Cost Adjustment                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount             $ 10,100,000          
IDAHO | May 2018 Tax Reform Settlement Stipulation                        
Regulatory Matters                        
Minimum authorized return on equity                       9.40%
Target authorized return on equity                       10.00%
Investment Tax Credits Maximum in One Year                       $ 25,000,000
IDAHO | Idaho Power Company [Member] | Jointly Owned coal facilities excluded in request                        
Regulatory Matters                        
Requested Rate Base                 3,900,000,000      
IDAHO | Idaho Power Company [Member] | Increase in ADITC for battery storage                        
Regulatory Matters                        
Investment Tax Credits, Maximum, in Rate Case                 $ 45,000,000      
IDAHO | Jim Bridger Plant                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount 27,100,000                      
Public Utilities, Approved Rate Increase (Decrease), Amount $ 18,800,000                      
Public Utilities, Requested Rate Increase (Decrease), Percentage 2.10%                      
Public Utilities, Approved Rate Increase (Decrease), Percentage 1.50%                      
IDAHO | Wildfire mitigation plan costs                        
Regulatory Matters                        
Regulatory Assets   $ 39,500,000 $ 39,500,000                  
IDAHO | Wildfire mitigation plan costs | Plant in service                        
Regulatory Matters                        
Requested deferral of costs                   $ 35,000,000    
IDAHO | Wildfire mitigation plan costs | Other Operating and Maintenance Expenses                        
Regulatory Matters                        
Requested deferral of costs                   $ 47,000,000    
IDAHO | Subsequent Event | Idaho Power Company [Member]                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount           $ 111,000,000            
Public Utilities, Requested Rate Increase (Decrease), Percentage           8.61%            
Public Utilities, Requested Debt Capital Structure, Percentage           49.00%            
Public Utilities, Requested Return on Equity, Percentage           10.40%            
Requested average cost of debt           4.895%            
Requested overall cost of capital           7.702%            
Public Utilities, Requested Equity Capital Structure, Percentage           51.00%            
IDAHO | Subsequent Event | Idaho Power Company [Member] | PCA adjustment to request                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount           $ (173,400,000)            
IDAHO | Subsequent Event | Idaho Power Company [Member] | Energy Rider adjustment to request                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount           (3,500,000)            
IDAHO | Subsequent Event | Idaho Power Company [Member] | Pension increase in collection of contributions                        
Regulatory Matters                        
Public Utilities, Requested Rate Increase (Decrease), Amount           $ 18,000,000            
v3.23.2
REVENUES: Electric utility operating revenues (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues [Abstract]        
Revenue from contracts with customers $ 385,229 $ 345,483 $ 770,895 $ 663,665
Alternative revenue programs and other revenues 27,498 12,185 71,170 37,924
Electric utility revenues $ 412,727 $ 357,668 $ 842,065 $ 701,589
v3.23.2
REVENUES: (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers $ 385,229 $ 345,483 $ 770,895 $ 663,665
Alternative revenue programs and other revenues 27,498 12,185 71,170 37,924
Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 341,661 311,572 672,385 607,415
Idaho fixed cost adjustment mechanism        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers [1] (5,974) (5,763) (15,159) (16,139)
Alternative revenue programs and other revenues 5,974 5,763 15,159 16,139
Wholesale energy sales        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 15,201 6,980 45,397 10,015
Transmission Service Agreement        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 20,026 18,323 41,611 34,788
Energy efficiency program revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 6,552 6,609 11,767 13,198
Other revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 7,763 7,762 14,894 14,388
Derivative revenues        
Disaggregation of Revenue [Line Items]        
Alternative revenue programs and other revenues 21,524 6,422 56,011 21,785
Residential Retail Revenue | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers [1] 134,885 124,593 323,422 293,888
Residential Retail Revenue | Idaho fixed cost adjustment mechanism        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 5,678 5,459 14,587 15,551
Commercial Retail Revenue | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers [1] 87,677 79,260 175,507 157,826
Commercial Retail Revenue | Idaho fixed cost adjustment mechanism        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 296 304 572 588
Industrial Retail Revenue | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 58,245 51,987 113,789 101,047
Irrigation Retail Revenue | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 62,781 57,659 63,713 58,700
Deferred revenue-AFUDC | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers [2] (1,927) (1,927) (4,046) (4,046)
IPUC authorized AFUDC Collection HCC Relicensing - Gross | Idaho Power Company [Member] | Hells Canyon Complex        
Disaggregation of Revenue [Line Items]        
Regulatory liabilities $ (8,800) $ (8,800) $ (8,800) $ (8,800)
[1] The FCA mechanism is an alternative revenue program in the Idaho jurisdiction and does not represent revenue from contracts with customers.
[2] The IPUC allows Idaho Power to recover a portion of the allowance for funds used during construction (AFUDC) on construction work in progress related to the Hells Canyon Complex (HCC) relicensing process, even though the relicensing process is not yet complete and the costs have not been moved to electric plant in service. Idaho Power is collecting $8.8 million annually in the Idaho jurisdiction but is deferring revenue recognition of the amounts collected until the license is issued and the accumulated license costs approved for recovery are placed in service.
v3.23.2
REVENUES: Receivables and Allowance for Uncollectible Accounts (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]    
Balance at beginning of period $ 5,034 $ 4,499
Additions to the allowance 739 478
Write-offs, net of recoveries (1,917) (1,056)
Balance at end of period $ 3,856 $ 3,921
Allowance for uncollectible accounts as a percentage of customer receivables 3.30% 4.30%
v3.23.2
LONG-TERM DEBT (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2023
Apr. 01, 2023
Mar. 14, 2023
Mar. 08, 2023
Dec. 22, 2022
Jun. 30, 2022
Private Placement              
Debt Instrument [Line Items]              
Secured Long-term Debt, Noncurrent           $ 170,000  
First Mortgage Bonds 2.50 Series due 2023 [Domain]              
Debt Instrument [Line Items]              
Debt Instrument, Interest Rate, Stated Percentage     2.50%        
Repayments of Debt $ 75,000            
Term Loan Facility              
Debt Instrument [Line Items]              
Repayments of Lines of Credit 50,000 $ 100,000          
Private Placement | First Mortgage Bonds 5.06 Series Due 2043 [Domain]              
Debt Instrument [Line Items]              
Debt Instrument, Interest Rate, Stated Percentage         5.06%    
Secured Long-term Debt, Noncurrent         $ 60,000    
Private Placement | First Mortgage Bonds 5.20 Series Due 2053 [Domain]              
Debt Instrument [Line Items]              
Debt Instrument, Interest Rate, Stated Percentage         5.20%    
Secured Long-term Debt, Noncurrent         $ 62,000    
First Mortgage | First mortgage bonds 5.50 Series due 2053 [Domain]              
Debt Instrument [Line Items]              
Debt Instrument, Interest Rate, Stated Percentage       5.50%      
Secured Long-term Debt, Noncurrent       $ 400,000      
Unsecured Debt | Term Loan Facility              
Debt Instrument [Line Items]              
Long-term Line of Credit, Noncurrent             $ 150,000
Line of Credit, Current $ 0 $ 0          
v3.23.2
COMMON STOCK: Level 4 (Details)
$ in Billions
 6 Months Ended
Jun. 30, 2023
USD ($)
shares
Idaho Power Company [Member]  
Shareholders' equity  
Ratio of Indebtedness to Net Capital 0.48
Dividend Distribution Restriction Amount | $ $ 1.4
Dividend Distribution Restriction Threshold 0.35
Ratio of total Capital to total capital and long-term debt 0.52
Preferred Stock, Shares Outstanding 0
IDACORP  
Shareholders' equity  
Restricted Stock Unit Awards to Employees 75,295
Stock Issued During Period, Shares, New Issues 52,897
Maximum leverage ratio requirement 0.65
Ratio of Indebtedness to Net Capital 0.47
Dividend Distribution Restriction Amount | $ $ 1.5
IDACORP | Directors  
Shareholders' equity  
Stock Issued During Period, Shares, New Issues 13,842
v3.23.2
EARNINGS PER SHARE: Level 4 (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Numerator:        
Net Income Attributable to IDACORP, Inc. $ 68,574 $ 64,287 $ 124,672 $ 110,548
Denominator:        
Weighted-average common shares outstanding - basic 50,725 50,668 50,707 50,650
Effect of dilutive securities 33 19 34 23
Weighted-average common shares outstanding - diluted 50,758 50,687 50,741 50,673
Earnings attributable to IDACORP, Inc. - basic (in dollars per share) $ 1.35 $ 1.27 $ 2.46 $ 2.18
Earnings attributable to IDACORP, Inc. - diluted (in dollars per share) $ 1.35 $ 1.27 $ 2.46 $ 2.18
v3.23.2
COMMITMENTS: Level 4 (Details)
$ in Thousands
 1 Months Ended 6 Months Ended
Jul. 31, 2023
USD ($)
Jun. 30, 2023
USD ($)
MWh
Bcfe
Idaho Power Company [Member]    
Guarantor Obligations    
IERCo guarantee of BCC reclamation obligation   $ 47,300
Idaho Power Company [Member] | Natural Gas Storage Purchase Commitment    
Long-term Commitment (Excluding Unconditional Purchase Obligation) [Abstract]    
Long-term Purchase Commitment, Period   10 years
Increase of Long-term Purchase Obligations, PURPA   $ 24,400
Natural Gas Storage Capacity | Bcfe   1
Idaho Power Company [Member] | Jointly Owned Electricity Transmission and Distribution System    
Long-term Commitment (Excluding Unconditional Purchase Obligation) [Abstract]    
Cash and Cash Equivalents, Security Deposit   $ 10,000
Other Noncurrent Liabilities, Security Deposit and Permitting Interest   41,400
Construction in Progress, Permitting Interest Acquired   $ 31,400
Interest in Boardman-to-Hemmingway acquired from Bonneville Power Administration   24.00%
Interest in Boardman-to-Hemmingway transmission project   45.00%
BPA permitting interest, time period   15 years
Security Deposit Received, B2H Transmission Project   $ 10,000
BPA security deposit to begin after years of energization   10 years
Idaho Power Company [Member] | Subsequent Event    
Long-term Commitment (Excluding Unconditional Purchase Obligation) [Abstract]    
Long-term Purchase Commitment, Period 1 year  
Increase of Long-term Purchase Obligations, PURPA $ 16,900  
Idaho Power Company [Member] | Contracts To Acquire And Own Battery Storage Assets Commitment    
Long-term Commitment (Excluding Unconditional Purchase Obligation) [Abstract]    
Long-term Purchase Commitment, Period   1 year
Nameplate Capacity | MWh   36
Increase of Long-term Purchase Obligations, PURPA   $ 52,600
Payments to Acquire Productive Assets   $ 10,500
Idaho Power Company [Member] | Contracts To Purchase Battery Storage Capacity Commitment    
Long-term Commitment (Excluding Unconditional Purchase Obligation) [Abstract]    
Long-term Purchase Commitment, Period   20 years
Nameplate Capacity | MWh   150
Increase of Long-term Purchase Obligations, PURPA   $ 430,900
Idaho Power Company [Member] | Cogeneration And Power Production Purchase Commitment Member    
Long-term Commitment (Excluding Unconditional Purchase Obligation) [Abstract]    
Long-term Purchase Commitment, Period   20 years
Increase of Long-term Purchase Obligations, PURPA   $ 29,100
Bridger Coal Company    
Guarantor Obligations    
IERCo guarantee of BCC reclamation obligation   141,900
Guarantor Obligations Total Reclamation Trust Fund   226,200
Distribution from Reclamation Trust Fund   $ 2,200
IDACORP Financial Services, Inc. | Subsequent Event    
Long-term Commitment (Excluding Unconditional Purchase Obligation) [Abstract]    
Long-term Purchase Commitment, Period 18 years  
Long-Term Purchase Commitment, Amount $ 35,000  
v3.23.2
BENEFIT PLANS: Level 4 (Details) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended 6 Months Ended
Apr. 30, 2023
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Defined Benefit Plan Disclosure          
Service cost   $ 8,382 $ 13,412 $ 16,791 $ 27,142
Interest cost   14,702 11,256 29,460 22,840
Expected return on plan assets   (15,841) (18,722) (31,694) (37,350)
Amortization of prior service cost   473 68 946 139
Amortization of net loss   (203) 3,642 (333) 8,236
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)   7,513 9,656 15,170 21,007
Regulatory deferral of net periodic benefit cost [1]   (5,061) (6,727) (10,121) (15,100)
IPUC Authorized recovered pension cost [1]   4,289 4,289 8,577 8,577
Net periodic benefit cost recognized for financial reporting [1],[2]   6,741 7,218 13,626 14,484
Net Periodic Benefit cost recognize in Other operations and maintenance   5,100 5,000 10,400 9,900
Net Periodic Benefit cost recognized in other expense, net   1,600 2,200 3,200 4,600
Pension Plan          
Defined Benefit Plan Disclosure          
Service cost   8,078 12,849 16,156 26,013
Interest cost   12,655 9,751 25,309 19,835
Expected return on plan assets   (15,434) (18,137) (30,868) (36,174)
Amortization of prior service cost   1 1 3 3
Amortization of net loss   0 2,589 0 6,137
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)   5,300 7,053 10,600 15,814
Regulatory deferral of net periodic benefit cost [1]   (5,061) (6,727) (10,121) (15,100)
IPUC Authorized recovered pension cost [1]   4,289 4,289 8,577 8,577
Net periodic benefit cost recognized for financial reporting [1],[2]   4,528 4,615 9,056 9,291
Pension Plan | Idaho Power Company [Member]          
Defined Benefit Plan Disclosure          
Defined Benefit Plan, Contributions by Employer $ 10,000        
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year   30,000   30,000  
Senior Management Security Plan          
Defined Benefit Plan Disclosure          
Service cost   153 297 306 593
Interest cost   1,330 975 2,661 1,949
Expected return on plan assets   0 0 0 0
Amortization of prior service cost   55 69 110 139
Amortization of net loss   143 1,058 285 2,115
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)   1,681 2,399 3,362 4,796
Net periodic benefit cost recognized for financial reporting   1,681 2,399 3,362 4,796
Postretirement Benefits Plan          
Defined Benefit Plan Disclosure          
Service cost   151 266 329 536
Interest cost   717 530 1,490 1,056
Expected return on plan assets   (407) (585) (826) (1,176)
Amortization of prior service cost   417 (2) 833 (3)
Amortization of net loss   (346) (5) (618) (16)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)   532 204 1,208 397
Net periodic benefit cost recognized for financial reporting   $ 532 $ 204 $ 1,208 $ 397
[1] Net periodic benefit costs for the pension plan are recognized for financial reporting based upon the authorization of each regulatory jurisdiction in which Idaho Power operates. Under IPUC order, the Idaho portion of net periodic benefit cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
[2] Of total net periodic benefit cost recognized for financial reporting, $5.1 million and $5.0 million, respectively, were recognized in "Other operations and maintenance" and $1.6 million and $2.2 million, respectively, were recognized in "Other income, net" on the condensed consolidated statements of income of the companies for the three months ended June 30, 2023 and 2022.
v3.23.2
Derivative Instruments Gains (Loss) on Derivatives Recognized in Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Financial Swaps | Operating revenues        
Derivative Instruments, Gain (Loss)        
Derivative, Gain (Loss) on Derivative, Net [1] $ 5,042 $ (1,577) $ 3,963 $ (995)
Financial Swaps | Purchased power        
Derivative Instruments, Gain (Loss)        
Derivative, Gain (Loss) on Derivative, Net [1] (1,733) (1,197) (107) (1,081)
Financial Swaps | Operating Expense        
Derivative Instruments, Gain (Loss)        
Derivative, Gain (Loss) on Derivative, Net [1] (11,422) 2,991 12,114 4,451
Forward contracts | Operating revenues        
Derivative Instruments, Gain (Loss)        
Derivative, Gain (Loss) on Derivative, Net [1] 1,075 32 1,710 211
Forward contracts | Purchased power        
Derivative Instruments, Gain (Loss)        
Derivative, Gain (Loss) on Derivative, Net [1] (1,449) (31) (2,049) (210)
Forward contracts | Operating Expense        
Derivative Instruments, Gain (Loss)        
Derivative, Gain (Loss) on Derivative, Net [1] $ (19) $ (9) $ (439) $ (62)
[1] Excludes unrealized gains or losses on derivatives, which are recorded on the balance sheet as regulatory assets or regulatory liabilities.
v3.23.2
Derivative Instruments Fair Value and Offsets Table (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset $ 5,513 $ 74,346
Derivative Asset, Fair Value, Gross Liability (4,860) (33,428)
Derivative Asset, Fair Value, Amount Offset Against Collateral 653 40,918
Derivative Liability, Fair Value, Gross Liability 33,780 21,589
Derivative Liability, Fair Value, Gross Asset (24,102) (14,801)
Derivative Liability, Fair Value, Amount Offset Against Collateral 9,678 6,788
Derivative Asset, Collateral, Obligation to Return Cash, Offset   18,600
Other Current Liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Offset 17,500  
Other Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Offset 1,700  
Financial Swaps | Other Current Assets [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset 344 72,548
Derivative Asset, Fair Value, Gross Liability (31) (32,609) [1]
Derivative Asset, Fair Value, Amount Offset Against Collateral 313 39,939
Derivative Liability, Fair Value, Gross Liability 31 13,982
Derivative Liability, Fair Value, Gross Asset (31) (13,982)
Derivative Liability, Fair Value, Amount Offset Against Collateral 0 0
Financial Swaps | Other Current Liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset 4,110 132
Derivative Asset, Fair Value, Gross Liability (4,110) (132)
Derivative Asset, Fair Value, Amount Offset Against Collateral 0 0
Derivative Liability, Fair Value, Gross Liability 27,897 1,577
Derivative Liability, Fair Value, Gross Asset (21,648) [2] (132)
Derivative Liability, Fair Value, Amount Offset Against Collateral 6,249 1,445
Financial Swaps | Other Assets    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset 688 622
Derivative Asset, Fair Value, Gross Liability (348) (43)
Derivative Asset, Fair Value, Amount Offset Against Collateral 340 579
Derivative Liability, Fair Value, Gross Liability 348 43
Derivative Liability, Fair Value, Gross Asset (348) (43)
Derivative Liability, Fair Value, Amount Offset Against Collateral 0 0
Financial Swaps | Other Liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset 371 644
Derivative Asset, Fair Value, Gross Liability (371) (644)
Derivative Asset, Fair Value, Amount Offset Against Collateral 0 0
Derivative Liability, Fair Value, Gross Liability 2,075 2,136
Derivative Liability, Fair Value, Gross Asset (2,075) [3] (644)
Derivative Liability, Fair Value, Amount Offset Against Collateral 0 1,492
Forward contracts | Other Current Assets [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset   400
Derivative Asset, Fair Value, Gross Liability   0
Derivative Asset, Fair Value, Amount Offset Against Collateral   400
Derivative Liability, Fair Value, Gross Liability   0
Derivative Liability, Fair Value, Gross Asset   0
Derivative Liability, Fair Value, Amount Offset Against Collateral   0
Forward contracts | Other Current Liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset 0 0
Derivative Asset, Fair Value, Gross Liability 0 0
Derivative Asset, Fair Value, Amount Offset Against Collateral 0 0
Derivative Liability, Fair Value, Gross Liability 2,066 2,071
Derivative Liability, Fair Value, Gross Asset 0 0
Derivative Liability, Fair Value, Amount Offset Against Collateral 2,066 2,071
Forward contracts | Other Liabilities    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Fair Value, Gross Asset 0 0
Derivative Asset, Fair Value, Gross Liability 0 0
Derivative Asset, Fair Value, Amount Offset Against Collateral 0 0
Derivative Liability, Fair Value, Gross Liability 1,363 1,780
Derivative Liability, Fair Value, Gross Asset 0 0
Derivative Liability, Fair Value, Amount Offset Against Collateral $ 1,363 $ 1,780
[1] Current asset derivative amounts offset include $18.6 million of collateral payable at December 31, 2022
[2] Current liability derivative amounts offset include $17.5 million of collateral receivable at June 30, 2023.
[3] Long-term liability derivative amounts offset include $1.7 million of collateral receivable at June 30, 2023.
v3.23.2
Derivative Commodities and Disclosures (Details)
MWh in Thousands, MMBTU in Thousands
Jun. 30, 2023
MMBTU
MWh
Jun. 30, 2022
MMBTU
MWh
Electricity (MWh) | Long    
Derivative    
Derivative, Number of Instruments Held | MWh 792 541
Electricity (MWh) | Short    
Derivative    
Derivative, Number of Instruments Held | MWh 17 118
Natural Gas (MMBTU) | Long    
Derivative    
Derivative, Number of Instruments Held | MMBTU 35,545 21,215
Natural Gas (MMBTU) | Short    
Derivative    
Derivative, Number of Instruments Held | MMBTU 310 0
v3.23.2
DERIVATIVE FINANCIAL INSTRUMENTS: - Narrative (Details)
$ in Millions
Jun. 30, 2023
USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives in a net liability position $ 33.7
Collateral Already Posted, Aggregate Fair Value 44.4
Additional Collateral, Aggregate Fair Value $ 9.2
v3.23.2
FAIR VALUE MEASUREMENTS: Level 4 (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] $ 7,998 $ 16,505
Derivative Assets 653 40,918
Equity Securities, FV-NI 31,617 34,129
Derivative Liabilities 9,678 6,788
Idaho Power Company [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 43,909 34,468
Corporate Fixed-Income And Asset-Backed Debt Securities    
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]    
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value 4,500 5,000
Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] 7,998 16,505
Derivative Assets 653 40,518
Equity Securities, FV-NI 31,617 34,129
Assets, Fair Value Disclosure [1] 0 0
Derivative Liabilities 6,249 2,937
Fair Value, Inputs, Level 1 [Member] | Idaho Power Company [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 43,909 34,468
Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] 0 0
Derivative Assets 0 400
Equity Securities, FV-NI 0 0
Assets, Fair Value Disclosure [1] 0 0
Derivative Liabilities 3,429 3,851
Fair Value, Inputs, Level 2 [Member] | Idaho Power Company [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 0 0
Fair Value, Inputs, Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] 0 0
Derivative Assets 0 0
Equity Securities, FV-NI 0 0
Assets, Fair Value Disclosure [1] 0 0
Derivative Liabilities 0 0
Fair Value, Inputs, Level 3 [Member] | Idaho Power Company [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 0 0
Fair Value Measured at Net Asset Value Per Share    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets, Fair Value Disclosure [1] $ 3,236 $ 2,796
[1] Holding company only. Does not include amounts held by Idaho Power.
v3.23.2
FAIR VALUE MEASUREMENTS: Fair Value, by Balance Sheet Grouping (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Carrying Amount    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes Receivable [1] $ 3,871 $ 3,871
Held-to-maturity securities [1],[2] 30,996 30,475
Long-term debt [1] 2,482,352 2,194,145
Carrying Amount | Idaho Power Company [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Held-to-maturity securities [1],[2] 30,996 30,475
Long-term debt [1] 2,482,352 2,194,145
Estimated Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes Receivable [1] 3,871 3,871
Held-to-maturity securities [1],[2] 26,499 25,452
Long-term debt [1] 2,260,638 1,953,470
Estimated Fair Value | Idaho Power Company [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Held-to-maturity securities [1],[2] 26,499 25,452
Long-term debt [1] $ 2,260,638 $ 1,953,470
[1] (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 12 - "Fair Value Measurements."
[2] (2) All held-to-maturity securities are carried at amortized cost and were in a gross unrealized holding loss position totaling $4.5 million and $5.0 million as of June 30, 2023, and December 31, 2022, respectively. Substantially all of these debt securities mature between 2027 and 2037. Based on ongoing credit evaluations of these holdings, Idaho Power does not expect payment defaults or delinquencies and had not recorded an allowance for credit losses for these securities as of June 30, 2023 and 2022.
v3.23.2
SEGMENT INFORMATION: Level 4 (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Segment Reporting Information          
Total operating revenues $ 413,838 $ 358,723 $ 843,497 $ 703,011  
Net Income Attributable to IDACORP, Inc. 68,574 64,287 124,672 110,548  
Total assets 7,839,068   7,839,068   $ 7,543,258
Eliminations          
Segment Reporting Information          
Total operating revenues 0 0 0 0  
Net Income Attributable to IDACORP, Inc. 0 0 0 0  
Total assets (119,699)   (119,699)    
Utility Operations          
Segment Reporting Information          
Net Income Attributable to IDACORP, Inc.     122,790 108,649  
Utility Operations | Operating Segments          
Segment Reporting Information          
Total operating revenues 412,727 357,668 842,065 701,589  
Net Income Attributable to IDACORP, Inc. 67,080 62,435      
Total assets 7,747,117   7,747,117    
All Other | Operating Segments          
Segment Reporting Information          
Total operating revenues 1,111 1,055 1,432 1,422  
Net Income Attributable to IDACORP, Inc. 1,494 $ 1,852 1,882 $ 1,899  
Total assets $ 211,650   $ 211,650    
v3.23.2
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]        
AOCI - Beginning Balance     $ (12,922)  
Reclassifications $ 147 $ 837 293 $ 1,674
AOCI - Ending Balance (12,629)   (12,629)  
Reclassification out of Accumulated Other Comprehensive Income        
Amortization of prior service cost [1] 55 69 110 139
Amortization of net loss [1] 143 1,058 285 2,115
Total reclassification, before tax - pension and postretirement benefits 198 1,127 395 2,254
Tax benefit [2] (51) (290) (102) (580)
Reclassifications 147 837 293 1,674
Accumulated Defined Benefit Pension Items        
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]        
AOCI - Beginning Balance (12,776) (39,203) (12,922) (40,040)
Reclassifications 147 837 293 1,674
AOCI - Ending Balance (12,629) (38,366) (12,629) (38,366)
Reclassification out of Accumulated Other Comprehensive Income        
Reclassifications $ 147 $ 837 $ 293 $ 1,674
[1] Amortization of these items is included in IDACORP's condensed consolidated income statements in other operating expenses and in Idaho Power's condensed consolidated statements of income in other expense, net.
[2] The tax benefit is included in income tax expense in the condensed consolidated statements of income of both IDACORP and Idaho Power.
v3.23.2
CHANGES IN IDAHO POWER RETAINED EARNINGS (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Retained Earnings Roll Forward [Roll Forward]        
Balance at beginning of period     $ 1,937,972  
Net Income Attributable to IDACORP, Inc. $ 68,574 $ 64,287 124,672 $ 110,548
Balance at end of period 1,982,083   1,982,083  
Idaho Power Company [Member]        
Retained Earnings Roll Forward [Roll Forward]        
Balance at beginning of period 1,891,898 1,704,320 1,836,547 1,696,304
Net Income Attributable to IDACORP, Inc. 67,080 62,435 122,790 108,649
Dividends (40,219) (38,120) (40,578) (76,318)
Balance at end of period $ 1,918,759 $ 1,728,635 $ 1,918,759 $ 1,728,635