IDACORP INC, 10-K filed on 2/17/2022
Annual Report
v3.22.0.1
Document and Entity Information Document and Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2021
Feb. 11, 2022
Jun. 30, 2021
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Transition Report false    
Document Period End Date Dec. 31, 2021    
Document Fiscal Year Focus 2021    
Document Fiscal Period Focus FY    
Entity File Number 1-14465    
Entity Registrant Name IDACORP, Inc.    
I.R.S. Employer Identification No. 82-0505802    
Entity Incorporation, State or Country Code ID    
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 Central Index Key 0001057877    
Current Fiscal Year End Date --12-31    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Amendment Flag false    
Title of 12(b) Security Common Stock, without par value    
Trading Symbol IDA    
Security Exchange Name NYSE    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Public Float     $ 4,876,126,808
Entity Common Stock, Shares Outstanding   50,523,810  
Documents Incorporated by Reference
Documents Incorporated by Reference:
Part III, Items 10 - 14Portions of IDACORP, Inc.’s definitive proxy statement to be filed pursuant to Regulation 14A for the 2022 annual meeting of shareholders.
    
Entity Interactive Data Current Yes    
ICFR Auditor Attestation Flag true    
Entity Current Reporting Status Yes    
Idaho Power Company      
Document Information [Line Items]      
No Trading Symbol Flag true    
Document Period End Date Dec. 31, 2021    
Document Fiscal Year Focus 2021    
Document Fiscal Period Focus FY    
Entity File Number 1-3198    
Entity Registrant Name Idaho Power Company    
I.R.S. Employer Identification No. 82-0130980    
Entity Central Index Key 0000049648    
Current Fiscal Year End Date --12-31    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Amendment Flag false    
Title of 12(g) Security Preferred Stock    
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 Interactive Data Current Yes    
ICFR Auditor Attestation Flag true    
v3.22.0.1
Audit Information
 12 Months Ended
Dec. 31, 2021
Auditor [Line Items]  
Auditor Name DELOITTE & TOUCHE LLP
Auditor Firm ID 34
Auditor Location Boise, Idaho
Idaho Power Company  
Auditor [Line Items]  
Auditor Name DELOITTE & TOUCHE LLP
Auditor Firm ID 34
Auditor Location Boise, Idaho
v3.22.0.1
Consolidated Statements of Income Statement - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Revenues:      
Electric utility revenues $ 1,455,410 $ 1,347,340 $ 1,342,940
Other operating revenues 2,674 3,389 3,443
Revenues 1,458,084 1,350,729 1,346,383
Operating Expenses:      
Purchased power 393,691 297,417 285,266
Fuel expense 180,550 172,740 156,872
Power cost adjustment (49,844) (33,708) 2,047
Other operations and maintenance 361,297 352,071 355,770
Energy efficiency programs 29,920 42,478 40,128
Depreciation 175,555 171,648 169,210
Other electric utility operating expenses 34,673 35,914 35,995
Total electric utility expenses 1,125,842 1,038,560 1,045,288
Other 2,591 2,648 2,769
Operating expenses 1,128,433 1,041,208 1,048,057
Operating income 329,651 309,521 298,326
Nonoperating (Income) Expense:      
Allowance for equity funds used during construction (31,537) (29,551) (27,112)
Earnings of unconsolidated equity-method investments (11,435) (11,513) (12,370)
Interest on long-term debt 84,145 84,251 82,457
Other interest 14,546 14,753 14,721
Allowance for borrowed funds used during construction (11,993) (11,578) (10,703)
Other (income) expense, net 3,141 (3,509) (6,502)
Total nonoperating expense, net 46,867 42,853 40,491
Income before income taxes 282,784 266,668 257,835
Income Tax Expense 36,912 28,700 24,507
Net Income 245,872 237,968 233,328
Adjustment for income attributable to noncontrolling interests (322) (551) (474)
Net Income Attributable to IDACORP, Inc. $ 245,550 $ 237,417 $ 232,854
Weighted Average Common Shares Outstanding - Basic (000’s) (in shares) 50,599 50,538 50,502
Weighted Average Common Shares Outstanding - Diluted (000’s) (in shares) 50,645 50,572 50,537
Earnings Per Share of Common Stock:      
Earnings Attributable to IDACORP, Inc. - Basic (in dollars per share) $ 4.85 $ 4.70 $ 4.61
Earnings Attributable to IDACORP, Inc. - Diluted (in dollars per share) $ 4.85 $ 4.69 $ 4.61
v3.22.0.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Statement of Comprehensive Income [Abstract]      
Net Income $ 245,872 $ 237,968 $ 233,328
Other Comprehensive Income:      
Unfunded pension liability adjustment, net of tax 3,318 (7,074) (13,440)
Total Comprehensive Income 249,190 230,894 219,888
Comprehensive income attributable to noncontrolling interests (322) (551) (474)
Comprehensive Income Attributable to IDACORP, Inc. $ 248,868 $ 230,343 $ 219,414
v3.22.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current Assets:    
Cash and cash equivalents $ 215,243 $ 275,116
Short-term Investments 0 25,000
Receivables:    
Customer 78,819 72,826
Other 14,994 12,661
Income taxes receivable 14,770 2,164
Accrued unbilled revenues 74,843 72,461
Materials and supplies (at average cost) 77,552 64,941
Fuel stock (at average cost) 18,045 31,646
Prepayments 24,676 20,184
Current regulatory assets 71,223 63,407
Other 5,708 1,995
Total current assets 595,873 642,401
Investments 123,824 126,948
Property, Plant and Equipment:    
Utility plant in service 6,509,316 6,283,790
Accumulated provision for depreciation (2,298,951) (2,193,831)
Utility plant in service - net 4,210,365 4,089,959
Construction work in progress 670,585 597,152
Utility plant held for future use 4,511 4,109
Other property, net of accumulated depreciation 16,361 18,290
Property, plant and equipment - net 4,901,822 4,709,510
Other Assets:    
Company-owned life insurance 67,343 62,382
Regulatory assets 1,462,431 1,495,488
Other 59,222 58,515
Total other assets 1,588,996 1,616,385
Total assets 7,210,515 7,095,244
Current Liabilities:    
Accounts payable 145,980 120,576
Taxes accrued 14,229 19,508
Interest accrued 23,959 24,030
Accrued compensation 55,666 52,245
Current regulatory liabilities 11,239 11,104
Advances from customers 43,472 29,341
Other 31,079 30,767
Total current liabilities 325,624 287,571
Other Liabilities:    
Deferred income taxes 842,375 800,251
Regulatory liabilities 781,695 757,730
Pension and other postretirement benefits 521,462 634,070
Other 63,485 48,752
Total other liabilities 2,209,017 2,240,803
Long-term Debt [1] 2,000,640 2,000,414
Commitments and Contingencies
Equity:    
Common stock 874,896 869,235
Retained earnings 1,833,580 1,734,103
Accumulated other comprehensive loss (40,040) (43,358)
Total IDACORP, Inc. shareholders’ equity 2,668,436 2,559,980
Noncontrolling interests 6,798 6,476
Total equity 2,675,234 2,566,456
Total $ 7,210,515 $ 7,095,244
[1] At both December 31, 2021 and 2020, the overall effective cost rate of Idaho Power's outstanding debt was 4.40 percent.
v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities:      
Net Income $ 245,872 $ 237,968 $ 233,328
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 179,444 175,941 173,800
Deferred income taxes and investment tax credits 23,901 25,175 22,389
Changes in regulatory assets and liabilities (33,705) (36,246) (4,310)
Pension and postretirement benefit plan expense 33,817 28,970 27,804
Contributions to pension and postretirement benefit plans (44,220) (45,161) (48,525)
Earnings of unconsolidated equity-method investments 11,435 11,513 12,370
Distributions from unconsolidated equity-method investments 11,711 14,477 21,800
Allowance for equity funds used during construction (31,537) (29,551) (27,112)
Other non-cash adjustments to net income, net 8,929 10,457 8,040
Change in:      
Accounts receivable (6,697) (374) (5,996)
Accounts payable and other accrued liabilities 17,700 (356) (9,526)
Taxes accrued/receivable (17,885) 8,950 742
Other current assets (8,327) 4,910 (8,820)
Other current liabilities 3,102 7,996 (799)
Other assets (10,764) (5,546) (4,375)
Other liabilities 3,358 2,034 555
Net cash provided by operating activities 363,264 388,131 366,625
Investing Activities:      
Additions to property, plant and equipment (299,999) (310,938) (278,705)
Payments received from transmission project joint funding partners 5,876 3,197 2,442
Payments to Acquire Partners Interest in Real Estate Partnership, Net of Cash Acquired (15,148) (14,338) (2,687)
Proceeds from Equity Method Investment, Distribution, Return of Capital 14,439 1,073 0
Payments to Acquire Equity Securities, FV-NI (17,186) (33,382) (10,896)
Payments to Acquire Short-term Investments 25,000 25,000 0
Proceeds from Maturities, Prepayments and Calls of Short-term Investments 50,000 0 0
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment 11,328 25,795 5,080
Other 2,037 6,335 4,274
Net cash used in investing activities (273,653) (347,258) (280,492)
Financing Activities:      
Issuance of long-term debt 0 310,000 166,100
Premium on issuance of long-term debt [Abstract] 0 31,384 0
Retirement of long-term debt 0 (175,000) (166,100)
Dividends on common stock (146,119) (137,813) (129,677)
Acquisition of treasury stock (3,031) (4,641) (4,160)
Make-whole premium on retirement of long-term debt 0 (3,305) 0
Other 334 3,636 2,534
Net cash used in financing activities (149,484) 16,989 (136,371)
Net (decrease) increase in cash and cash equivalents (59,873) 57,862 (50,238)
Cash and cash equivalents at beginning of the year 275,116 217,254 267,492
Cash and cash equivalents at end of the year 215,243 275,116 217,254
Cash paid during the period for:      
Income taxes 34,330 9,975 14,055
Interest (net of amount capitalized) 83,499 81,074 85,260
Non-cash investing activities:      
Additions to property, plant and equipment in accounts payable $ 53,690 $ 45,004 $ 38,815
v3.22.0.1
Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Common Stock
Retained Earnings
Accumulated Other Comprehensive (Loss) Income
Treasury Stock
Noncontrolling Interest
Noncontrolling Interests            
Noncontrolling interests           $ 5,451
Total equity at end of year   $ 863,593 $ 1,531,543 $ (22,844) $ 1,932  
APIC, Share-based Payment Arrangement, Increase for Cost Recognition   8,788        
Tax withholdings on net settlements of share-based awards   0        
Stock Issued During Period, Shares, Treasury Stock Reissued   (4,172)        
Other   98        
Net income attributable to IDACORP, Inc. $ 232,854   232,854      
Dividends Declared Per Share of Common Stock (in dollars per share) $ 2.56          
Common stock dividends     (129,872)      
Unfunded pension liability adjustment, net of tax $ (13,440)     (13,440)    
Stock Issued During Period, Value, New Issues         4,172  
Acquired         (4,160)  
Adjustment for income (loss) attributable to noncontrolling interests 474         474
Total IDACORP, Inc. shareholders’ equity at end of year 2,464,628   2,470,553      
Noncontrolling interests           5,925
Total equity at end of year   868,307 1,634,525 (36,284) 1,920  
APIC, Share-based Payment Arrangement, Increase for Cost Recognition   7,416        
Tax withholdings on net settlements of share-based awards   (4,641)        
Stock Issued During Period, Shares, Treasury Stock Reissued   (1,920)        
Other   73        
Net income attributable to IDACORP, Inc. $ 237,417   237,417      
Dividends Declared Per Share of Common Stock (in dollars per share) $ 2.72          
Common stock dividends     (137,839)      
Unfunded pension liability adjustment, net of tax $ (7,074)     (7,074)    
Stock Issued During Period, Value, New Issues         1,920  
Acquired         0  
Adjustment for income (loss) attributable to noncontrolling interests 551         551
Total IDACORP, Inc. shareholders’ equity at end of year 2,559,980   2,566,456      
Noncontrolling interests 6,476         6,476
Total equity at end of year 2,566,456 869,235 1,734,103 (43,358) 0  
APIC, Share-based Payment Arrangement, Increase for Cost Recognition   8,583        
Tax withholdings on net settlements of share-based awards   (3,031)        
Stock Issued During Period, Shares, Treasury Stock Reissued   0        
Other   109        
Net income attributable to IDACORP, Inc. $ 245,550   245,550      
Dividends Declared Per Share of Common Stock (in dollars per share) $ 2.88          
Common stock dividends     (146,073)      
Unfunded pension liability adjustment, net of tax $ 3,318     3,318    
Stock Issued During Period, Value, New Issues         0  
Acquired         0  
Adjustment for income (loss) attributable to noncontrolling interests 322         322
Total IDACORP, Inc. shareholders’ equity at end of year 2,668,436   2,675,234      
Noncontrolling interests 6,798         $ 6,798
Total equity at end of year $ 2,675,234 $ 874,896 $ 1,833,580 $ (40,040) $ 0  
v3.22.0.1
Consolidated Statements of Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dividends Declared Per Share of Common Stock (in dollars per share) $ 2.88 $ 2.72 $ 2.56
v3.22.0.1
Idaho Power Company Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Revenues:      
Electric utility revenues $ 1,455,410 $ 1,347,340 $ 1,342,940
Operating Expenses:      
Purchased power 393,691 297,417 285,266
Fuel expense 180,550 172,740 156,872
Power cost adjustment (49,844) (33,708) 2,047
Other operations and maintenance 361,297 352,071 355,770
Energy efficiency programs 29,920 42,478 40,128
Depreciation 175,555 171,648 169,210
Other electric utility operating expenses 34,673 35,914 35,995
Total electric utility expenses 1,125,842 1,038,560 1,045,288
Operating income 329,651 309,521 298,326
Nonoperating (Income) Expense:      
Allowance for equity funds used during construction (31,537) (29,551) (27,112)
Earnings of unconsolidated equity-method investments (11,435) (11,513) (12,370)
Interest on long-term debt 84,145 84,251 82,457
Other interest 14,546 14,753 14,721
Allowance for borrowed funds used during construction (11,993) (11,578) (10,703)
Other (income) expense, net 3,141 (3,509) (6,502)
Total nonoperating expense, net 46,867 42,853 40,491
Income before income taxes 282,784 266,668 257,835
Income Tax Expense 36,912 28,700 24,507
Net Income 245,872 237,968 233,328
Idaho Power Company      
Operating Revenues:      
Electric utility revenues 1,455,410 1,347,340 1,342,940
Operating Expenses:      
Purchased power 393,691 297,417 285,266
Fuel expense 180,550 172,740 156,872
Power cost adjustment (49,844) (33,708) 2,047
Other operations and maintenance 361,297 352,071 355,770
Energy efficiency programs 29,920 42,478 40,128
Depreciation 175,555 171,648 169,210
Other electric utility operating expenses 34,673 35,914 35,995
Total electric utility expenses 1,125,842 1,038,560 1,045,288
Operating income 329,568 308,780 297,652
Nonoperating (Income) Expense:      
Allowance for equity funds used during construction (31,537) (29,551) (27,112)
Earnings of unconsolidated equity-method investments (10,211) (10,102) (10,285)
Interest on long-term debt 84,145 84,251 82,457
Other interest 14,511 14,716 14,658
Allowance for borrowed funds used during construction (11,993) (11,578) (10,703)
Other (income) expense, net 3,171 (2,739) (4,217)
Total nonoperating expense, net 48,086 44,997 44,798
Income before income taxes 281,482 263,783 252,854
Income Tax Expense 38,257 30,548 28,417
Net Income $ 243,225 $ 233,235 $ 224,437
v3.22.0.1
Idaho Power Company Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Net Income $ 245,872 $ 237,968 $ 233,328
Other Comprehensive Income:      
Unfunded pension liability adjustment, net of tax 3,318 (7,074) (13,440)
Total Comprehensive Income 249,190 230,894 219,888
Idaho Power Company      
Net Income 243,225 233,235 224,437
Other Comprehensive Income:      
Unfunded pension liability adjustment, net of tax 3,318 (7,074) (13,440)
Total Comprehensive Income $ 246,543 $ 226,161 $ 210,997
v3.22.0.1
Idaho Power Company Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current Assets:    
Cash and cash equivalents $ 215,243 $ 275,116
Receivables:    
Customer 78,819 72,826
Other 14,994 12,661
Income taxes receivable 14,770 2,164
Accrued unbilled revenues 74,843 72,461
Materials and supplies (at average cost) 77,552 64,941
Fuel stock (at average cost) 18,045 31,646
Prepayments 24,676 20,184
Current regulatory assets 71,223 63,407
Other 5,708 1,995
Total current assets 595,873 642,401
Property, Plant and Equipment:    
Utility plant in service 6,509,316 6,283,790
Accumulated provision for depreciation (2,298,951) (2,193,831)
Utility plant in service - net 4,210,365 4,089,959
Construction work in progress 670,585 597,152
Utility plant held for future use 4,511 4,109
Other property, net of accumulated depreciation 16,361 18,290
Property, plant and equipment - net 4,901,822 4,709,510
Other Assets:    
Company-owned life insurance 67,343 62,382
Regulatory assets 1,462,431 1,495,488
Other 59,222 58,515
Total other assets 1,588,996 1,616,385
Total assets 7,210,515 7,095,244
Current Liabilities:    
Accounts payable 145,980 120,576
Taxes accrued 14,229 19,508
Interest accrued 23,959 24,030
Accrued compensation 55,666 52,245
Current regulatory liabilities 11,239 11,104
Advances from customers 43,472 29,341
Other 31,079 30,767
Total current liabilities 325,624 287,571
Other Liabilities:    
Deferred income taxes 842,375 800,251
Regulatory liabilities 781,695 757,730
Pension and other postretirement benefits 521,462 634,070
Other 63,485 48,752
Total other liabilities 2,209,017 2,240,803
Long-term Debt [1] 2,000,640 2,000,414
Commitments and Contingencies
Equity:    
Common stock 874,896 869,235
Retained earnings 1,833,580 1,734,103
Accumulated other comprehensive loss (40,040) (43,358)
Total equity 2,675,234 2,566,456
Total 7,210,515 7,095,244
Idaho Power Company    
Current Assets:    
Cash and cash equivalents 60,075 165,604
Receivables:    
Customer 78,819 72,826
Other 14,134 12,457
Income taxes receivable 15,328 4,667
Accrued unbilled revenues 74,843 72,461
Materials and supplies (at average cost) 77,552 64,941
Fuel stock (at average cost) 18,045 31,646
Prepayments 24,558 20,057
Current regulatory assets 71,223 63,407
Other 5,708 1,995
Total current assets 440,285 510,061
Investments and Other Property 77,108 87,848
Property, Plant and Equipment:    
Utility plant in service 6,509,316 6,283,790
Accumulated provision for depreciation (2,298,951) (2,193,831)
Utility plant in service - net 4,210,365 4,089,959
Construction work in progress 670,585 597,152
Utility plant held for future use 4,511 4,109
Other property, net of accumulated depreciation 3,647 5,123
Property, plant and equipment - net 4,889,108 4,696,343
Other Assets:    
Company-owned life insurance 67,343 62,382
Regulatory assets 1,462,431 1,495,488
Other 54,564 53,988
Total other assets 1,584,338 1,611,858
Total assets 6,990,839 6,906,110
Current Liabilities:    
Accounts payable 145,871 120,476
Accounts payable to affiliates 2,159 1,720
Taxes accrued 14,316 19,554
Interest accrued 23,959 24,030
Accrued compensation 55,491 52,036
Current regulatory liabilities 11,239 11,104
Advances from customers 43,472 29,341
Other 19,117 16,717
Total current liabilities 315,624 274,978
Other Liabilities:    
Deferred income taxes 844,871 829,146
Regulatory liabilities 781,695 757,730
Pension and other postretirement benefits 521,462 634,070
Other 62,245 45,937
Total other liabilities 2,210,273 2,266,883
Long-term Debt 2,000,640 2,000,414
Commitments and Contingencies
Equity:    
Common stock 97,877 97,877
Premium on capital stock 712,258 712,258
Capital stock expense (2,097) (2,097)
Retained earnings 1,696,304  
Accumulated other comprehensive loss (40,040) (43,358)
Total equity 2,464,302 2,363,835
Total $ 6,990,839 $ 6,906,110
[1] At both December 31, 2021 and 2020, the overall effective cost rate of Idaho Power's outstanding debt was 4.40 percent.
v3.22.0.1
Idaho Power Company Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Net Income $ 245,872 $ 237,968 $ 233,328
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 179,444 175,941 173,800
Deferred income taxes and investment tax credits 23,901 25,175 22,389
Changes in regulatory assets and liabilities (33,705) (36,246) (4,310)
Pension and postretirement benefit plan expense 33,817 28,970 27,804
Contributions to pension and postretirement benefit plans (44,220) (45,161) (48,525)
Earnings of unconsolidated equity-method investments 11,435 11,513 12,370
Distributions from unconsolidated equity-method investments 11,711 14,477 21,800
Allowance for equity funds used during construction (31,537) (29,551) (27,112)
Other non-cash adjustments to net income, net 8,929 10,457 8,040
Change in:      
Accounts receivable (6,697) (374) (5,996)
Accounts payable and other accrued liabilities 17,700 (356) (9,526)
Taxes accrued/receivable (17,885) 8,950 742
Other current assets (8,327) 4,910 (8,820)
Other current liabilities 3,102 7,996 (799)
Other assets (10,764) (5,546) (4,375)
Other liabilities 3,358 2,034 555
Net cash provided by operating activities 363,264 388,131 366,625
Investing Activities:      
Additions to property, plant and equipment (299,999) (310,938) (278,705)
Payments received from transmission project joint funding partners 5,876 3,197 2,442
Proceeds from Equity Method Investment, Distribution, Return of Capital 14,439 1,073 0
Payments to Acquire Equity Securities, FV-NI (17,186) (33,382) (10,896)
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment 11,328 25,795 5,080
Other 2,037 6,335 4,274
Net cash used in investing activities (273,653) (347,258) (280,492)
Financing Activities:      
Issuance of long-term debt 0 310,000 166,100
Premium on issuance of long-term debt [Abstract] 0 31,384 0
Retirement of long-term debt 0 (175,000) (166,100)
Dividends on common stock (146,119) (137,813) (129,677)
Make-whole premium on retirement of long-term debt 0 (3,305) 0
Other 334 3,636 2,534
Net cash used in financing activities (149,484) 16,989 (136,371)
Net (decrease) increase in cash and cash equivalents (59,873) 57,862 (50,238)
Cash and cash equivalents at beginning of the year 275,116 217,254 267,492
Cash and cash equivalents at end of the year 215,243 275,116 217,254
Cash paid during the period for:      
Income taxes 34,330 9,975 14,055
Interest (net of amount capitalized) 83,499 81,074 85,260
Non-cash investing activities:      
Additions to property, plant and equipment in accounts payable 53,690 45,004 38,815
Idaho Power Company      
Net Income 243,225 233,235 224,437
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 178,847 175,334 173,205
Deferred income taxes and investment tax credits (7,682) 1,149 14,889
Changes in regulatory assets and liabilities (33,705) (36,246) (4,310)
Pension and postretirement benefit plan expense 33,804 28,955 27,788
Contributions to pension and postretirement benefit plans (44,207) (45,146) (48,509)
Earnings of unconsolidated equity-method investments 10,211 10,102 10,285
Distributions from unconsolidated equity-method investments 10,211 12,627 19,450
Allowance for equity funds used during construction (31,537) (29,551) (27,112)
Other non-cash adjustments to net income, net 346 3,041 (748)
Change in:      
Accounts receivable (5,607) (2,220) (4,724)
Accounts payable and other accrued liabilities 17,690 (292) (9,463)
Taxes accrued/receivable (15,899) 12,685 2,281
Other current assets (8,336) 4,919 (8,821)
Other current liabilities 3,133 8,072 (870)
Other assets (10,809) (5,588) (4,280)
Other liabilities 3,443 2,116 584
Net cash provided by operating activities 322,706 352,988 343,512
Investing Activities:      
Additions to property, plant and equipment (299,972) (310,937) (278,707)
Payments received from transmission project joint funding partners 5,876 3,197 2,442
Proceeds from Equity Method Investment, Distribution, Return of Capital 14,439 1,073 0
Payments to Acquire Equity Securities, FV-NI (15,823) (33,382) (10,896)
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment 11,328 25,795 5,080
Other 2,231 6,305 4,117
Net cash used in investing activities (281,921) (307,949) (277,964)
Financing Activities:      
Issuance of long-term debt 0 310,000 166,100
Premium on issuance of long-term debt [Abstract] 0 31,384 0
Retirement of long-term debt 0 (175,000) (166,100)
Dividends on common stock   (137,885) (129,877)
Make-whole premium on retirement of long-term debt 0 (3,305) 0
Other (238) (3,579) (2,181)
Net cash used in financing activities (146,314) 21,615 (132,058)
Net (decrease) increase in cash and cash equivalents (105,529) 66,654 (66,510)
Cash and cash equivalents at beginning of the year 165,604 98,950 165,460
Cash and cash equivalents at end of the year 60,075 165,604 98,950
Cash paid during the period for:      
Income taxes 64,003 32,118 19,856
Interest (net of amount capitalized) 83,464 81,037 85,198
Non-cash investing activities:      
Additions to property, plant and equipment in accounts payable $ 53,690 $ 45,004 $ 38,815
v3.22.0.1
Idaho Power Company Consolidated Statements of Retained Earnings - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]      
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance $ 2,566,456    
Net income attributable to IDACORP, Inc. 245,550 $ 237,417 $ 232,854
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 2,675,234 2,566,456  
Retained Earnings      
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]      
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance 1,734,103 1,634,525 1,531,543
Net income attributable to IDACORP, Inc. 245,550 237,417 232,854
Dividends on Common Stock (146,073) (137,839) (129,872)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 1,833,580 1,734,103 1,634,525
Idaho Power Company      
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]      
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance 2,363,835    
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 2,464,302 2,363,835  
Idaho Power Company | Retained Earnings      
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward]      
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance 1,599,155 1,503,805 1,409,245
Net income attributable to IDACORP, Inc. 243,225 233,235 224,437
Dividends on Common Stock (146,076) (137,885) (129,877)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest $ 1,696,304 $ 1,599,155 $ 1,503,805
v3.22.0.1
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Statement of Comprehensive Income [Abstract]      
Other Comprehensive (loss) Income, Pension and Other Postretirement Benefit Plans, Tax $ 1,150 $ (2,452) $ (4,658)
v3.22.0.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Statement of Financial Position [Abstract]        
Accounts Receivable, Allowance for Credit Loss, Current $ 4,499 $ 4,766    
Allowance for Doubtful Other Receivables, Current $ 517 $ 497    
Common Stock, Shares Authorized 120,000,000 120,000,000    
Common Stock, Shares, Issued 50,516,479 50,461,885 50,420,017 50,420,017
v3.22.0.1
Idaho Power Company Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Other Comprehensive (loss) Income, Pension and Other Postretirement Benefit Plans, Tax $ 1,150 $ (2,452) $ (4,658)
Idaho Power Company      
Other Comprehensive (loss) Income, Pension and Other Postretirement Benefit Plans, Tax $ 1,150 $ (2,452) $ (4,658)
v3.22.0.1
Idaho Power Company Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss, Current $ 4,499 $ 4,766
Allowance for Doubtful Other Receivables, Current $ 517 $ 497
Common Stock, Shares Authorized 120,000,000 120,000,000
Common Stock, Shares, Issued 50,516,479 50,461,885
Idaho Power Company    
Accounts Receivable, Allowance for Credit Loss, Current $ 4,766 $ 4,499
Allowance for Doubtful Other Receivables, Current $ 517 $ 497
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
v3.22.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
 12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Significant Accounting Policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
This Annual Report on Form 10-K is a combined report of IDACORP, Inc. (IDACORP) and Idaho Power Company (Idaho Power). Therefore, these Notes to the 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, sales, 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 (FERC). 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 generating 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).
 
Principles of Consolidation
 
IDACORP’s and Idaho Power’s consolidated financial statements include the assets, liabilities, revenues, and expenses of each company and its wholly-owned subsidiaries listed above, as well as any variable interest entity (VIE) for which the respective company is the primary beneficiary. Investments in VIEs for which the companies are not the primary beneficiaries, but have the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method of accounting. 

IDACORP also consolidates one VIE, Marysville Hydro Partners (Marysville), which is a joint venture owned 50 percent by Ida-West and 50 percent by Environmental Energy Company (EEC). At December 31, 2021, Marysville had approximately $16.0 million of assets, primarily a hydropower plant, and approximately $2.3 million of intercompany long-term debt, which is eliminated in consolidation. EEC has borrowed amounts from Ida-West to fund a portion of its required capital contributions to Marysville. The loans are payable from EEC’s share of distributions from Marysville and are secured by the stock of EEC and EEC’s interest in Marysville. Ida-West is identified as the primary beneficiary because the combination of its ownership interest in the joint venture with the intercompany note and the EEC note result in Ida-West's ability to control the activities of the joint venture. Creditors of Marysville have no recourse to the general credit of IDACORP and there are no other arrangements that could require IDACORP to provide financial support to Marysville or expose IDACORP to losses.
 
The BCC joint venture is also a VIE, but because the power to direct the activities that most significantly impact the economic performance of BCC is shared with the joint venture partner, Idaho Power is not the primary beneficiary. The carrying value of Idaho Power's investment in BCC was $22.7 million at December 31, 2021, and Idaho Power's maximum exposure to loss is the carrying value, any additional future contributions to BCC, and a $51.6 million guarantee for mine reclamation costs, which is discussed further in Note 10 - "Commitments."
 
IFS's affordable housing limited partnership and other real estate tax credit investments are also VIEs for which IDACORP is not the primary beneficiary. IFS's limited partnership interests range from 2 to 100 percent and were acquired between 1996 and 2021. As a limited partner, IFS does not control these entities and they are not consolidated. IFS’s maximum exposure to loss in these developments is limited to its net carrying value, which was $35.0 million at December 31, 2021.

Ida-West's other investments in PURPA facilities, Idaho Power's investment in BCC, and IFS's investments are accounted for under the equity method of accounting (see Note 15 - "Investments").

Except for amounts related to sales of electricity by Ida-West's PURPA projects to Idaho Power, all intercompany transactions and balances have been eliminated in consolidation. 
The accompanying consolidated financial statements include Idaho Power's proportionate share of utility plant and related operations resulting from its interests in jointly-owned plants (see Note 13 - "Property, Plant and Equipment and Jointly-Owned Projects"). 

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.

Idaho Power meets the requirements under accounting principles generally accepted in the United States of America (GAAP) to prepare its financial statements applying the specialized rules to account for the effects of cost-based rate regulation. IDACORP’s and Idaho Power’s financial statements reflect the effects of the different ratemaking principles followed by the jurisdictions regulating Idaho Power. Accounting for the economics of rate regulation impacts multiple financial statement line items and disclosures, such as property, plant, and equipment; regulatory assets and liabilities; operating revenues; operation and maintenance expense; depreciation expense; and income tax expense. 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."

Management Estimates
 
Management makes estimates and assumptions when preparing financial statements in conformity with GAAP. These estimates and assumptions include 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.
 
System of Accounts

The accounting records of Idaho Power conform to the Uniform System of Accounts prescribed by the FERC and adopted by the public utility commissions of Idaho, Oregon, and Wyoming.
 
Cash and Cash Equivalents

Cash and cash equivalents include cash on-hand and highly liquid temporary investments that mature within 90 days of the date of acquisition.
 
Receivables and Allowance for Uncollectible Accounts

Customer receivables are recorded at the invoiced amounts and do not bear interest. A late payment fee of one percent per month may be assessed on account balances after 30 days. An allowance is recorded for potential uncollectible accounts. The measurement of expected credit losses on Idaho Power accounts receivable is based on historical experience, current economic conditions, and forecasted information that may affect collections on the outstanding balance. Generally, this includes adjustments based upon a combination of historical write-off experience, aging of accounts receivable, an analysis of specific customer accounts, and an evaluation of whether there are current or forecasted economic conditions that might cause variation in collection from the historical experience. Adjustments are charged to income. Customer accounts receivable balances that remain outstanding after reasonable collection efforts are written off.

In response to the COVID-19 public health crisis, Idaho Power provided certain relief to customers, including temporarily suspending disconnections for customers and temporarily waiving late fees. This relief as well as the economic conditions
created by the response to the COVID-19 public health crisis have resulted in higher aged accounts receivable and an increase in the number of late payments. Compared with historical levels, Idaho Power expects higher uncollectible account write-offs as a result of the COVID-19 public health crisis and, accordingly, has maintained its higher allowance for uncollectible accounts related to customer receivables at December 31, 2021.

The following table provides a rollforward of the allowance for uncollectible accounts related to customer receivables (in thousands of dollars):
Year Ended
December 31,
 20212020
Balance at beginning of period$4,766 $1,401 
Additions to the allowance2,017 5,222 
Write-offs, net of recoveries(2,284)(1,857)
Balance at end of period$4,499 $4,766 
Allowance for uncollectible accounts as a percentage of customer receivables5.4 %6.1 %

Other receivables, primarily notes receivable from business transactions, are also reviewed for impairment periodically, based upon transaction-specific facts. When it is probable that IDACORP or Idaho Power will be unable to collect all amounts due according to the contractual terms of the agreement, an allowance is established for the estimated uncollectible portion of the receivable and charged to income.

There were no impaired receivables without related allowances at December 31, 2021 and 2020. Once a receivable is determined to be impaired, any further interest income recognized is fully reserved.

Derivative Financial Instruments

Financial instruments such as commodity futures, forwards, options, and swaps are used to manage exposure to commodity price risk in the electricity and natural gas markets. All derivative instruments are recognized as either assets or liabilities at fair value on the balance sheet unless they are designated as normal purchases and normal sales. With the exception of forward contracts for the purchase of natural gas for use at Idaho Power's natural gas generation facilities and a nominal number of power transactions, Idaho Power’s physical forward contracts are designated as normal purchases and normal sales. Because of Idaho Power’s regulatory accounting mechanisms, Idaho Power records the unrealized changes in fair value of derivative instruments related to power supply as regulatory assets or liabilities.
 
Revenues

Operating revenues are generally recorded when service is rendered or energy is delivered to customers. Idaho Power accrues estimated unbilled revenues for electric services delivered to customers but not yet billed at year-end. Idaho Power does not report any collections of franchise fees and similar taxes related to energy consumption on the income statement. In addition, regulatory mechanisms in place in Idaho and Oregon affect the reported amount of revenue. The effects of applying these regulatory mechanisms are discussed in more detail in Note 4 - "Revenues."
 
Property, Plant and Equipment and Depreciation

The cost of utility plant in service represents the original cost of contracted services, direct labor and material, allowance for funds used during construction (AFUDC), and indirect charges for engineering, supervision, and similar overhead items. Repair and maintenance costs associated with planned major maintenance are expensed as the costs are incurred, as are maintenance and repairs of property and replacements and renewals of items determined to be less than units of property. For utility property replaced or renewed, the original cost plus removal cost less salvage is charged to accumulated provision for depreciation, while the cost of related replacements and renewals is added to property, plant and equipment.
 
All utility plant in service is depreciated using the straight-line method at rates approved by regulatory authorities. Annual depreciation provisions as a percent of average depreciable utility plant in service approximated 2.9 percent in 2021, 2020, and 2019.
During the period of construction, costs expected to be included in the final value of the constructed asset, and depreciated once the asset is complete and placed in service, are classified as construction work in progress on the consolidated balance sheets. If the project becomes probable of being abandoned, these costs are expensed in the period such determination is made. Idaho Power may seek recovery of these costs in customer rates, although there can be no guarantee such recovery would be granted.
 
Long-lived assets are periodically reviewed for impairment when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the undiscounted expected future cash flows from an asset is less than the carrying value of the asset, impairment is recognized in the financial statements. There were no material impairments of long-lived assets in 2021, 2020, or 2019.
 
Allowance for Funds Used During Construction

AFUDC represents the cost of financing construction projects with borrowed funds and equity funds. With one exception, for the Hells Canyon Complex (HCC) relicensing project, cash is not realized currently from such allowance; it is realized under the ratemaking process over the service life of the related property through increased revenues resulting from a higher rate base and higher depreciation expense. The component of AFUDC attributable to borrowed funds is included as a reduction to total interest expense. Idaho Power’s weighted-average monthly AFUDC rate was 7.5 percent for 2021 and 2020, and 7.6 percent for 2019.

Income Taxes

IDACORP and Idaho Power account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method (commonly referred to as normalized accounting), deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. In general, deferred income tax expense or benefit for a reporting period is recognized as the change in deferred tax assets and liabilities from the beginning to the end of the period. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date unless Idaho Power's primary regulator, the Idaho Public Utilities Commission (IPUC), orders direct deferral of the effect of the change in tax rates over a longer period of time.

Consistent with orders and directives of the IPUC, unless contrary to applicable income tax guidance, Idaho Power does not record deferred income tax expense or benefit for certain income tax temporary differences and instead recognizes the tax impact currently (commonly referred to as flow-through accounting) for rate making and financial reporting. Therefore, Idaho Power's effective income tax rate is impacted as these differences arise and reverse. Idaho Power recognizes such adjustments as regulatory assets or liabilities if it is probable that such amounts will be recovered from or returned to customers in future rates.

IDACORP and Idaho Power use judgment, estimation, and historical data in developing the provision for income taxes and the reporting of tax-related assets and liabilities, including development of current year tax depreciation, capitalized repair costs, capitalized overheads, and other items. Income taxes can be impacted by changes in tax laws and regulations, interpretations by taxing authorities, changes to accounting guidance, and actions by federal or state public utility regulators. Actual income taxes could vary from estimated amounts and may result in favorable or unfavorable impacts to net income, cash flows, and tax-related assets and liabilities.

In compliance with the federal income tax requirements for the use of accelerated tax depreciation, Idaho Power records deferred income taxes related to its plant assets for the difference between income tax depreciation and book depreciation used for financial statement purposes. Deferred income taxes are recorded for other temporary differences unless accounted for using flow-through.
 
Investment tax credits earned on regulated assets are deferred and amortized to income over the estimated service lives of the related properties.
 
Income taxes are discussed in more detail in Note 2 - "Income Taxes."
Other Accounting Policies

Debt discount, expense, and premium are deferred and amortized over the terms of the respective debt issuances. Losses on reacquired debt and associated costs are amortized over the life of the associated replacement debt, as allowed under regulatory accounting.

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 consolidated financial statements.
v3.22.0.1
INCOME TAXES:
 12 Months Ended
Dec. 31, 2021
Income Taxes [Abstract]  
Income Taxes INCOME TAXES
 
A reconciliation between the statutory federal income tax rate and the effective tax rate is as follows:
 IDACORPIdaho Power
 202120202019202120202019
(thousands of dollars)
Federal income tax expense at statutory rate$59,317 $55,885 $54,046 $59,111 $55,394 $53,099 
Change in taxes resulting from:     
AFUDC(9,141)(8,637)(7,941)(9,141)(8,637)(7,941)
Capitalized interest1,077 1,044 976 1,077 1,044 976 
Investment tax credits(2,866)(2,906)(6,252)(2,866)(2,906)(6,252)
Removal costs(3,302)(3,148)(3,139)(3,302)(3,148)(3,139)
Capitalized overhead costs(8,190)(7,560)(7,140)(8,190)(7,560)(7,140)
Capitalized repair costs(17,430)(18,480)(18,480)(17,430)(18,480)(18,480)
Bond redemption costs— (726)— — (726)— 
State income taxes, net of federal benefit11,359 8,804 8,627 11,633 9,052 8,401 
Depreciation14,233 13,589 14,641 14,233 13,589 14,641 
Excess deferred income tax reversal(8,958)(4,885)(6,181)(8,958)(4,885)(6,181)
Income tax return adjustments3,169 (2,552)745 1,759 (2,508)993 
Real Estate-related tax credits(6,245)(5,315)(2,874)— — — 
Real Estate-related investment distributions(1,010)(13)(3,232)— — — 
Real Estate-related investment amortization4,095 3,754 1,825 — — — 
Other, net804 (154)(1,114)331 319 (560)
Total income tax expense$36,912 $28,700 $24,507 $38,257 $30,548 $28,417 
Effective tax rate13.1%10.8%9.5%13.6%11.6%11.2%
The items comprising income tax expense are as follows:
 IDACORPIdaho Power
 202120202019202120202019
(thousands of dollars)
Income taxes current:      
Federal$15,210 $7,800 $8,830 $40,525 $30,464 $25,338 
State6,630 3,215 4,865 12,932 6,409 (4,392)
Total21,840 11,015 13,695 53,457 36,873 20,946 
Income taxes deferred:      
Federal(1,787)11,543 9,486 (21,737)(4,905)(4,599)
State1,154 (1,414)1,159 (5,295)(4,241)10,054 
Total(633)10,129 10,645 (27,032)(9,146)5,455 
Investment tax credits:      
Deferred14,698 5,727 8,268 14,698 5,727 8,268 
Restored(2,866)(2,906)(6,252)(2,866)(2,906)(6,252)
Total11,832 2,821 2,016 11,832 2,821 2,016 
Real estate-related investments at IFS3,873 4,735 (1,849)— — — 
Total income tax expense$36,912 $28,700 $24,507 $38,257 $30,548 $28,417 

The components of the net deferred tax liability are as follows:
 IDACORPIdaho Power
 2021202020212020
 (thousands of dollars)
Deferred tax assets:    
Regulatory liabilities$96,880 $95,883 $96,880 $95,883 
Deferred compensation23,333 22,576 23,333 22,576 
Deferred revenue48,318 43,525 48,318 43,525 
Tax credits41,896 61,707 35,781 30,215 
Partnership investments12,265 10,189 11,949 7,211 
Retirement benefits110,997 142,864 110,997 142,864 
Other17,066 15,005 16,893 14,792 
Total350,755 391,749 344,151 357,066 
Deferred tax liabilities:  
Property, plant and equipment272,530 282,983 272,530 282,983 
Regulatory assets721,276 687,628 721,276 687,628 
Partnership investments2,824 3,257 — — 
Retirement benefits138,154 164,399 138,154 164,399 
Other58,346 53,733 57,062 51,202 
Total1,193,130 1,192,000 1,189,022 1,186,212 
Net deferred tax liabilities$842,375 $800,251 $844,871 $829,146 

IDACORP's tax allocation agreement provides that each member of its consolidated group compute its income taxes on a separate company basis. Amounts payable or refundable are settled through IDACORP and are reported as taxes accrued or income taxes receivable, respectively, on the consolidated balance sheets of Idaho Power. See Note 1 - "Summary of Significant Accounting Policies" for further discussion of accounting policies related to income taxes.

Tax Credit Carryforwards

As of December 31, 2021, IDACORP had $41.9 million of Idaho investment tax credit carryforwards, which expire from 2026 to 2035.  
Uncertain Tax Positions

IDACORP and Idaho Power believe that they have no material income tax uncertainties for 2021 and prior tax years. Both companies recognize interest accrued related to unrecognized tax benefits as interest expense and penalties as other expense. 
 
IDACORP and Idaho Power are subject to examination by their major tax jurisdictions - United States federal and the State of Idaho. The open tax years for examination are 2020-2021 for federal and 2016-2021 for Idaho. The Idaho State Tax Commission began its examination of the 2016-2018 tax years in March of 2020. In May 2009, IDACORP formally entered the U.S. Internal Revenue Service (IRS) Compliance Assurance Process (CAP) program for its 2009 tax year and has remained in the CAP program for all subsequent years. The CAP program provides for IRS examination and issue resolution throughout the current year with the objective of return filings containing no contested items. The IRS moved IDACORP from the maintenance phase of CAP to the bridge phase for both the 2020 and 2021 tax years.
v3.22.0.1
REGULATORY MATTERS:
 12 Months Ended
Dec. 31, 2021
Regulated Operations [Abstract]  
Regulatory Matters REGULATORY MATTERS
IDACORP’s and Idaho Power’s financial statements reflect the effects of the different ratemaking principles followed by the jurisdictions regulating Idaho Power. Included below is a summary of Idaho Power's regulatory assets and liabilities, as well as a discussion of notable regulatory matters.
 
Regulatory Assets and Liabilities
 
The application of accounting principles related to regulated operations sometimes results in Idaho Power recording some expenses and revenues in a different period than when an unregulated enterprise would record those expenses and revenues. 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 following table presents a summary of Idaho Power’s regulatory assets and liabilities (in thousands of dollars):
As of December 31, 2021
Remaining
Amortization Period
Earning a Return(1)
Not Earning a ReturnTotal as of December 31,
Description20212020
Regulatory Assets:    
Income taxes(2)
 $— $721,276 $721,276 $687,628 
Unfunded postretirement benefits(3)
 — 315,011 315,011 444,470 
Pension expense deferrals(4)
197,623 36,814 234,437 200,686 
Energy efficiency program costs(5)
7,622 — 7,622 13,225 
Power supply costs(6)
2022-202342,940 (9,411)33,529 — 
Fixed cost adjustment(6)
2022-202335,058 19,886 54,944 55,491 
North Valmy plant settlements(6)
2022-202897,852 — 97,852 103,085 
Asset retirement obligations(7)
 — 22,585 22,585 19,035 
Wildfire Mitigation Plan deferral(6)
 — 6,075 6,075 — 
Long-term service agreement2022-204314,046 9,227 23,273 24,431 
Other2022-20552,846 14,204 17,050 10,844 
Total $397,987 $1,135,667 $1,533,654 $1,558,895 
Regulatory Liabilities:     
Income taxes(8)
 $— $96,880 $96,880 $95,883 
Depreciation-related excess deferred income taxes(9)
170,039 — 170,039 178,997 
Removal costs(7)
 — 184,670 184,670 182,334 
Investment tax credits — 109,460 109,460 97,627 
Deferred revenue-AFUDC(10)
 141,450 46,267 187,717 169,095 
Power supply costs(6)
— — — 15,009 
Settlement agreement sharing mechanism(6)
2022-2023569 — 569 — 
Mark-to-market liabilities — 8,581 8,581 1,995 
Tax reform accrual for future amortization(11)
— 24,522 24,522 16,893 
Other4,697 5,799 10,496 11,001 
Total $316,755 $476,179 $792,934 $768,834 
(1) Earning a return includes either interest or a return on the investment as a component of rate base at the allowed rate of return.
(2) Represents flow-through income tax accounting differences which have a corresponding deferred tax liability disclosed in Note 2 - "Income Taxes."
(3) Represents the unfunded obligation of Idaho Power’s pension and postretirement benefit plans, which are discussed in Note 12 - "Benefit Plans."
(4) Idaho Power records a regulatory asset for the difference between net periodic pension cost and pension cost considered for rate-making purposes relating to Idaho Power's defined benefit pension plan. In its Idaho jurisdiction, Idaho Power’s inclusion of pension costs for the establishment of retail rates is based upon contributions made to the pension plan. This regulatory asset account represents the difference between cumulative cash contributions and amounts collected in rates. Deferred costs are amortized into expense as the amounts are provided for in Idaho retail revenues.
(5)    The energy efficiency asset includes both the Idaho and Oregon jurisdiction balances at December 31, 2021 and 2020.
(6) This item is discussed in more detail in this Note 3 - "Regulatory Matters."
(7) Asset retirement obligations and removal costs are discussed in Note 14 - "Asset Retirement Obligations (ARO)."
(8) Represents the tax gross-up related to the depreciation-related excess deferred income taxes and investment tax credits included in this table and has a corresponding deferred tax asset disclosed in Note 2 - "Income Taxes."
(9) In 2017, income tax reform reduced deferred income tax assets and liabilities. For depreciation-related temporary differences under the normalized tax accounting method, the resulting excess deferred taxes will flow back to customers ratably over the remaining regulatory lives of Idaho Power's plant assets under the alternative method provided in the statute. The average rate assumption method was used to compute this reversal for fiscal years 2018-2020.
(10) Idaho Power is collecting revenue in the Idaho jurisdiction for AFUDC on HCC relicensing costs but is deferring revenue recognition of the amounts collected until the license is issued and the asset is placed in service under the new license.
(11) Represents amount accrued under the May 2018 Idaho Tax Reform Settlement Stipulation (described below) for the future amortization of existing or future unspecified regulatory deferrals that would otherwise be a future liability recoverable from Idaho customers.

Idaho Power’s regulatory assets and liabilities are typically amortized over the period in which they are reflected in customer rates. In the event that recovery of Idaho Power’s costs through rates becomes unlikely or uncertain, regulatory accounting would no longer apply to some or all of Idaho Power’s operations and the items above may represent stranded investments. If
not allowed full recovery of these items, Idaho Power would be required to write off the applicable portion, which could have a materially adverse financial impact.

Power Cost Adjustment Mechanisms and Deferred Power Supply Costs

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 sheets for future recovery or refund. The power supply costs deferred primarily result from changes in the levels of Idaho Power's own hydroelectric generation, changes in contracted power purchase prices and volumes, changes in wholesale market prices and transaction volumes, and changes in fuel prices.

Idaho Jurisdiction Power Cost Adjustment Mechanism: In the Idaho jurisdiction, the annual power cost adjustment (PCA) consists of (a) a forecast component, based on a forecast of net power supply costs in the coming year as compared with net power supply costs included in base rates; and (b) a true-up component, based on the difference between the previous year’s actual net power supply costs and the previous year’s forecast. The latter component also includes a balancing mechanism so that, over time, the actual collection or refund of authorized true-up dollars matches the amounts authorized. The PCA mechanism also includes:

•a cost or benefit sharing ratio that allocates the deviations in net power supply expenses between customers (95 percent) and Idaho Power (5 percent), with the exceptions of expenses associated with PURPA power purchases and demand response incentive payments, which are allocated 100 percent to customers; and
•a sales-based adjustment intended to ensure that power supply expense recovery resulting solely from sales changes does not distort the results of the mechanism.

The Idaho deferral period or Idaho-jurisdiction PCA year runs from April 1 through March 31. Amounts deferred during the PCA year are primarily recovered or refunded during the subsequent June 1 through May 31 period. In May 2021, the IPUC ordered Idaho Power to initiate a case to review the PCA mechanism and propose any modifications it determines are appropriate so the case may be processed before the filing of the 2022 PCA application in April 2022. In January 2022, the IPUC approved Idaho Power's proposed modifications to the PCA, which simplify the mechanism without impairing the intent or effectiveness of the PCA and have no material impact on overall cost recovery.

The table below summarizes the three most recent Idaho-jurisdiction PCA rate adjustments, which also include non-PCA-related rate adjustments as ordered by the IPUC:
Effective Date$ Change (millions)Notes
June 1, 2021$39.1 The net increase in PCA revenues reflects a forecasted reduction in low-cost hydroelectric generation as well as higher costs associated with forecasted PURPA power purchases. The net increase in PCA revenues also reflects a smaller credit to customers thru the true-up component.
June 1, 2020$58.7 
The $58.7 million increase in PCA rates reflects a return to a more normal level of power supply costs as wholesale market energy prices came down from unusually high levels in the previous year's PCA and a forecasted reduction in low-cost hydropower generation.
June 1, 2019$(50.1)
The $$50.1 million decrease in PCA rates includes a $5.0 million credit to customers for sharing of 2018 earnings under the October 2014 Idaho Earnings Support and Sharing Settlement Stipulation and a $2.7 million credit for income tax reform benefits related to Idaho Power's open access transmission tariff (OATT) rate under a May 2018 Idaho tax reform settlement stipulation as described below in this Note 3 - Regulatory Matters.
 
Oregon Jurisdiction Power Cost Adjustment Mechanism: Idaho Power’s power cost recovery mechanism in Oregon has two components: an annual power cost update (APCU) and a power cost adjustment mechanism (PCAM). The APCU allows Idaho Power to reestablish its Oregon base net power supply costs annually, separate from a general rate case, and to forecast net power supply costs for the upcoming water year. The PCAM is a true-up filed annually in February. The filing calculates the deviation between actual net power supply expenses incurred for the preceding calendar year and the net power supply expenses recovered through the APCU for the same period. Oregon jurisdiction power supply cost changes under the APCU and PCAM during each of 2021, 2020, and 2019 did not have a material impact on the companies' financial statements.
 
Notable Idaho Base Rate Adjustments

Idaho base rates were most recently established through a general rate case in 2012, and adjusted in 2014, 2017, 2018, and 2019.

January 2012 and June 2014 Idaho Base Rate Adjustments: Effective January 1, 2012, Idaho Power implemented new Idaho base rates resulting from IPUC approval of a settlement stipulation that provided for a 7.86 percent authorized overall rate of return on an Idaho-jurisdiction rate base of approximately $2.36 billion. The settlement stipulation resulted in a 4.07 percent, or $34.0 million, overall increase in Idaho Power's annual Idaho-jurisdiction base rate revenues. Idaho base rates were subsequently adjusted again in 2012, in connection with Idaho Power's completion of the Langley Gulch power plant. In June 2012, the IPUC issued an order approving a $58.1 million increase in annual Idaho-jurisdiction base rates, effective July 1, 2012. The order also provided for a $335.9 million increase in Idaho rate base. Neither the settlement stipulation nor the IPUC orders adjusting base rates specified an authorized rate of return on equity or imposed a moratorium on Idaho Power filing a general rate case at a future date.

The IPUC issued a March 2014 order approving Idaho Power's request for an increase in the normalized or "base level" net power supply expense to be used to update base rates and in the determination of the PCA rate that became effective June 1, 2014.

October 2014 Idaho Earnings Support and Sharing Settlement Stipulation: In October 2014, the IPUC issued an order approving an extension, with modifications, of the terms of a December 2011 Idaho settlement stipulation for the period from 2015 through 2019, or until the terms are otherwise modified or terminated by order of the IPUC or the full $45 million of additional accumulated deferred investment tax credits (ADITC) contemplated by the settlement stipulation has been amortized (October 2014 Idaho Earnings Support and Sharing Settlement Stipulation). The provisions of the October 2014 Idaho Earnings Support and Sharing Settlement Stipulation are described in the table below.

May 2018 Idaho Tax Reform Settlement Stipulation: In December 2017, the Tax Cuts and Jobs Act was signed into law, which, among other things, lowered the corporate federal income tax rate from 35 percent to 21 percent and modified or eliminated certain federal income tax deductions for corporations. In March 2018, Idaho House Bill 463 was signed into law reducing the Idaho state corporate income tax rate from 7.4 percent to 6.925 percent.

In May 2018, the IPUC issued an order approving a settlement stipulation (May 2018 Idaho Tax Reform Settlement Stipulation) related to income tax reform. Beginning June 1, 2018, the settlement stipulation provided an annual (a) $18.7 million reduction to Idaho customer base rates and (b) $7.4 million amortization of existing regulatory deferrals for specified items or future amortization of other existing or future unspecified regulatory deferrals that would otherwise be a future regulatory asset recoverable from Idaho customers. The May 2018 Idaho Tax Reform Settlement Stipulation also provided for the indefinite extension, with modifications noted in the table below, of the October 2014 Idaho Earnings Support and Sharing Settlement Stipulation beyond its termination date of December 31, 2019.
The table below summarizes and compares the terms of the October 2014 Idaho Earnings Support and Sharing Settlement Stipulation with the terms in the May 2018 Idaho Tax Reform Settlement Stipulation that became applicable on January 1, 2020.
October 2014 Idaho Earnings Support and Sharing Settlement Stipulation
(Effective through December 31, 2019)
May 2018 Idaho Tax Reform Settlement Stipulation
(Effective January 1, 2020, with no defined end date)
If Idaho Power's actual annual Idaho ROE in any year is less than 9.5 percent, then Idaho Power may record additional ADITC amortization up to $25 million to help achieve a 9.5 percent Idaho ROE for that year, and may record additional ADITC amortization up to a total of $45 million over the 2015 through 2019 period. If the $45 million of ADITC are completely amortized, the revenue sharing provisions below would no longer be applicable.
If Idaho Power's actual annual Idaho ROE in any year is less than 9.4 percent, then Idaho Power may amortize up to $25 million of additional ADITC to help achieve a 9.4 percent Idaho ROE for that year, so long as the cumulative amount of ADITC used does not exceed $45 million (Idaho Power will have available and may continue to use any unused portion of the $45 million of additional ADITC from the October 2014 Idaho Earnings Support and Sharing Settlement Stipulation); however, Idaho Power may seek approval from the IPUC to replenish the total amount of ADITC it is permitted to amortize. If there are no remaining amounts of ADITC authorized to be amortized, the revenue sharing provisions below would not be applicable until ADITC is replenished.
If Idaho Power's annual Idaho ROE in any year exceeds 10.0 percent, the amount of earnings exceeding a 10.0 percent Idaho ROE and up to and including a 10.5 percent Idaho ROE will be allocated 75 percent to Idaho Power's Idaho customers as a rate reduction to be effective at the time of the subsequent year's PCA, and 25 percent to Idaho Power.
If Idaho Power's annual Idaho ROE in any year exceeds 10.0 percent, the amount of earnings exceeding a 10.0 percent Idaho ROE and up to and including a 10.5 percent Idaho ROE will be allocated 80 percent to Idaho Power's Idaho customers as a rate reduction to be effective at the time of the subsequent year's PCA, and 20 percent to Idaho Power.
If Idaho Power's annual Idaho ROE in any year exceeds 10.5 percent, the amount of earnings exceeding a 10.5 percent Idaho ROE will be allocated 50 percent to Idaho Power's Idaho customers as a rate reduction to be effective at the time of the subsequent year's PCA, 25 percent to Idaho Power's Idaho customers in the form of a reduction to the pension regulatory asset balancing account (to reduce the amount to be collected in the future from Idaho customers), and 25 percent to Idaho Power.
If Idaho Power's annual Idaho ROE in any year exceeds 10.5 percent, the amount of earnings exceeding a 10.5 percent Idaho ROE will be allocated 55 percent to Idaho Power's Idaho customers as a rate reduction to be effective at the time of the subsequent year's PCA, 25 percent to Idaho Power's Idaho customers in the form of a reduction to the pension regulatory asset balancing account (to reduce the amount to be collected in the future from Idaho customers), and 20 percent to Idaho Power.
In the event the IPUC approves a change to Idaho Power's allowed annual Idaho ROE as part of a general rate case proceeding before December 31, 2019, the Idaho ROE thresholds will be adjusted on a prospective basis as follows: (a) the Idaho ROE under which Idaho Power will be permitted to amortize an additional amount of ADITC will be set at 95 percent of the newly authorized Idaho ROE, (b) sharing with customers on an 75 percent basis as a customer rate reduction will begin at the newly authorized Idaho ROE, and (c) sharing with customers on a 75 percent basis but allocated 50 percent to a rate reduction, and 25 percent to a pension expense deferral regulatory asset, will begin at 105 percent of the newly authorized Idaho ROE.
In the event the IPUC approves a change to Idaho Power's allowed annual Idaho ROE as part of a general rate case proceeding effective on or after January 1, 2020, the Idaho ROE thresholds will be adjusted on a prospective basis as follows: (a) the Idaho ROE under which Idaho Power will be permitted to amortize an additional amount of ADITC will be set at 95 percent of the newly authorized Idaho ROE, (b) sharing with customers on an 80 percent basis as a customer rate reduction will begin at the newly authorized Idaho ROE, and (c) sharing with customers on an 80 percent basis but allocated 55 percent to a rate reduction, and 25 percent to a pension expense deferral regulatory asset, will begin at 105 percent of the newly authorized Idaho ROE.

The May 2018 Idaho Tax Reform Settlement Stipulation did not impose a moratorium on Idaho Power filing a general rate case or other form of rate proceeding in Idaho during its respective term.

In 2021, Idaho Power recorded a $0.6 million provision against current revenue for sharing with customers, as its full-year return on year-end equity in the Idaho jurisdiction (Idaho ROE) exceeded 10.0 percent. In 2020, Idaho Power recorded no provision against current revenue for sharing with customers, as its Idaho ROE was between 9.4 percent and 10.0 percent in 2020. Accordingly, at December 31, 2021, the full $45 million of additional ADITC remained available for future use under the terms of the May 2018 Idaho Tax Reform Settlement Stipulation.

Valmy Base Rate Adjustment Settlement Stipulations: In May 2017, the IPUC approved a settlement stipulation allowing accelerated depreciation and cost recovery for Idaho Power’s jointly-owned North Valmy coal-fired power plant. The settlement stipulation provides for an increase in Idaho jurisdictional revenues of $13.3 million per year, and (1) levelized collections and associated cost recovery through December 2028, (2) accelerated depreciation on unit 1 through 2019 and unit 2 through 2025, and (3) Idaho Power to use prudent and commercially reasonable efforts to end its participation in the operation of unit 1 by the end of 2019 and unit 2 no later than the end of 2025. The costs intended to be recovered by the increased jurisdictional revenues include current investments as of May 31, 2017, in both units, forecasted unit 1 investments from 2017 through 2019, and forecasted decommissioning costs for unit 1 and unit 2, offset by forecasted operation and maintenance costs
savings. The settlement stipulation also provides for the regulatory accrual or deferral of the difference between actual revenue requirements and levelized collections, and provides for the regulatory accrual or deferral of the difference between actual costs incurred (including accelerated depreciation expense on unit 1 through 2019 and unit 2 through 2025) compared with costs permitted to be recovered during the cost recovery period specified in the settlement stipulation (including depreciation expense through 2028). If actual costs incurred differ from forecasted amounts included in the settlement stipulation, collection or refund of any differences would be subject to regulatory approval. In February 2019, Idaho Power reached an agreement with NV Energy that facilitates the planned end of Idaho Power's participation in coal-fired operations at units 1 and 2 of its jointly-owned North Valmy coal-fired power plant in 2019 and no later than 2025, respectively. In May 2019, the IPUC issued an order approving the North Valmy plant agreement and allowing Idaho Power to recover through customer rates the $1.2 million incremental annual levelized revenue requirement associated with required North Valmy plant investments and other exit costs, effective June 1, 2019, through December 31, 2028. In December 2019, as planned, Idaho Power ended its participation in coal-fired operations of North Valmy plant unit 1. In September 2021, the IPUC issued an order acknowledging Idaho Power's year-end 2025 exit date from Valmy unit 2 is appropriate based on economics and reliability needs.

Other Notable Idaho Regulatory Matters

Fixed Cost Adjustment: The Idaho jurisdiction fixed cost adjustment (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, recovery of a portion of fixed costs is included in 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 2021, the IPUC ordered Idaho Power to work with interested parties and initiate a case to review the FCA mechanism and propose modifications it determines are appropriate. In December 2021, the IPUC approved Idaho Power's proposed modifications to the FCA mechanism to institute separate, and reduced, fixed cost tracking for customers added to Idaho Power's system after December 31, 2021.

The following table summarizes FCA amounts approved for collection in the prior three FCA years:
FCA YearPeriod Rates in EffectAnnual Amount
 (in millions)
2020June 1, 2021-May 31, 2022$38.3
2019June 1, 2020-May 31, 2021$35.5
2018June 1, 2019-May 31, 2020$34.8

Wildfire Mitigation Cost Recovery: In June 2021, the IPUC authorized Idaho Power to defer for future amortization incremental operations and maintenance (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 the filing, Idaho Power projected spending approximately $47 million in incremental wildfire mitigation-related O&M and roughly $35 million in wildfire mitigation system-hardening capital incremental 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 December 31, 2021, Idaho Power's deferral related to the WMP was $6.1 million.

Jim Bridger Power Plant Rate Request: In June 2021, Idaho Power filed an application with the IPUC requesting authorization to (a) accelerate depreciation for the Jim Bridger plant, to allow the plant to be fully depreciated and recovered by December 31, 2030, (b) establish a balancing account to track the incremental costs and benefits associated with ceasing participation in coal-fired operations at the Jim Bridger plant, and (c) adjust customer rates to recover the associated incremental annual levelized revenue requirement.

In September 2021, the co-owner and operator of the Jim Bridger Plant submitted its IRP to the IPUC that contemplates ceasing coal-fired generation in units 1 and 2 in 2023 and converting those units to natural gas generation by 2024. Idaho Power's 2021 IRP includes the same plan. At a public meeting in October 2021, the IPUC approved a joint motion by Idaho Power and the IPUC Staff to suspend the procedural schedule in Idaho Power's rate request case to assess new developments that impact
operations at the Jim Bridger plant, citing the potential option to convert the two units to natural gas generation as well as ongoing regional haze compliance discussions. In February 2022, Idaho Power filed a request to resume the procedural schedule with an amended application to the IPUC that contemplates the conversion of units 1 and 2 to natural gas in 2024 and therefore removes from the application all investments for the portion of the plant that will be converted to support gas-fired operations, leaving just coal-related plant investments in the requested regulatory treatment. The updated filing requests authorization to adjust customer rates to recover the associated incremental annual levelized revenue requirement in the aggregate amount of $27.1 million, which included Idaho Power's share of all electric plant in service related to coal-fired operations at the Jim Bridger plant. The proposed adjustment in this application would result in an overall rate increase of 2.12 percent in Idaho. As of the date of this report, the case remains pending at the IPUC.

Notable Oregon Regulatory Matters

Oregon Base Rate Changes: Oregon base rates were most recently established in a general rate case in 2012. In February 2012, the Public Utility Commission of Oregon (OPUC) issued an order approving a settlement stipulation that provided for a $1.8 million base rate increase, a return on equity of 9.9 percent, and an overall rate of return of 7.757 percent in the Oregon jurisdiction. New rates in conformity with the settlement stipulation were effective March 1, 2012. Subsequently, in September 2012, the OPUC issued an order approving an approximately $3.0 million increase in annual Oregon jurisdiction base rates, effective October 1, 2012, for inclusion of the Langley Gulch power plant in Idaho Power's Oregon rate base. Additionally, in October 2020, the OPUC approved an increase in Oregon customer rates of $0.4 million annually associated with amortization of deferred Langley Gulch power plant revenue requirement variances, effective November 1, 2020, through October 31, 2024.

In May 2018, the OPUC issued an order approving a settlement stipulation that provides for an annual $1.5 million reduction to Oregon customer base rates beginning June 1, 2018, through May 31, 2020, related to income tax reform. In May 2020, the OPUC issued an order to approve the quantification of $1.5 million in annualized Oregon jurisdictional benefits associated with federal and state income tax changes resulting from tax reform and adjusting customer rates to reflect this amount, effective June 1, 2020, until its next general rate case or other proceeding where the tax-related revenue requirement components are reflected in rates.

In June 2017, the OPUC approved a settlement stipulation allowing for (1) accelerated depreciation of North Valmy plant units 1 and 2 through December 31, 2025, (2) cost recovery of incremental North Valmy plant investments through May 31, 2017, and (3) forecasted North Valmy plant decommissioning costs. The settlement stipulation provides for an increase in the Oregon jurisdictional revenue requirement of $1.1 million, with yearly adjustments, if warranted. In May 2018, the OPUC also deemed prudent Idaho Power's decision to pursue the end of its participation in coal-fired operations of unit 1 by the end of 2019 and approved Idaho Power's request to recover annual incremental accelerated depreciation relating to unit 1, ending December 31, 2019, resulting in a $2.5 million annualized revenue requirement. In October 2019, the OPUC approved the North Valmy plant agreement and authorized Idaho Power to adjust customer rates in Oregon, effective January 1, 2020, to reflect a decrease in the annual levelized revenue requirement of $3.2 million, which mostly relates to the decrease in depreciation expense and other costs associated with the December 2019 end of Idaho Power's participation in coal-fired operations of North Valmy plant unit 1.

Other Notable Regulatory Matters

Depreciation Rate Requests: In 2021, Idaho Power conducted a depreciation study of electric plant-in-service, which it performs approximately every five years. The study provided updates to net salvage percentages and service life estimates for Idaho Power plant assets. In November 2021, in each of the Idaho and Oregon jurisdictions, Idaho Power and other stakeholders filed a joint motion for approval of a settlement stipulation adopting new depreciation rates and agreeing to no increase in the jurisdictional revenue requirement and no change in customer rates. In December 2021 and January 2022, respectively, the IPUC and OPUC approved Idaho Power's requests, which were effective January 1, 2022.

Federal Regulatory Matters - Open Access Transmission Tariff Rates

Idaho Power uses a formula rate for transmission service provided under its OATT, which allows transmission rates to be updated annually based primarily on actual financial and operational data Idaho Power files with the FERC and allows Idaho
Power to recover costs associated with its transmission system. Idaho Power's OATT rates submitted to the FERC in Idaho Power's four most recent annual OATT Final Informational Filings were as follows:
Applicable PeriodOATT Rate (per kW-year)
October 1, 2021 to September 30, 2022$31.19 
October 1, 2020 to September 30, 2021$29.95 
October 1, 2019 to September 30, 2020$27.32 
October 1, 2018 to September 30, 2019$31.25 
Idaho Power's current OATT rate is based on a net annual transmission revenue requirement of $127.3 million, which represents the OATT formulaic determination of Idaho Power's net cost of providing OATT-based transmission service.
v3.22.0.1
REVENUES:
 12 Months Ended
Dec. 31, 2021
Revenues [Abstract]  
REVENUES
The following table provides a summary of electric utility operating revenues for IDACORP and Idaho Power (in thousands):
Year Ended December 31,
 202120202019
Electric utility operating revenues:
Revenue from contracts with customers$1,382,653 $1,286,637 $1,285,286 
Alternative revenue programs and derivative revenues72,757 60,703 57,654 
Total electric utility operating revenues$1,455,410 $1,347,340 $1,342,940 

Revenues from Contracts with Customers

Revenues from contracts with customers are primarily related to Idaho Power’s regulated tariff-based sales of energy or related services. Generally, tariff-based sales do not involve a written contract, but are classified as revenues from contracts with customers. Idaho Power assesses revenues on a contract-by-contract basis to determine the nature, amount, timing, and uncertainty, if any, of revenues being recognized. The following table presents revenues from contracts with customers disaggregated by revenue source (in thousands):

Year Ended December 31,
 202120202019
Revenues from contracts with customers:
Retail revenues:
 Residential (includes $34,835, $34,409, and $35,587, respectively, related to the FCA(1))
$583,061 $547,404 $526,966 
 Commercial (includes $1,407, $1,543, and $1,336, respectively, related to the FCA(1))
314,745 293,057 295,203 
Industrial195,214 181,258 181,372 
Irrigation168,664 154,791 135,850 
Provision for sharing(569)— — 
Deferred revenue related to HCC relicensing AFUDC(2)
(8,780)(8,780)(8,780)
Total retail revenues1,252,335 1,167,730 1,130,611 
Less: FCA mechanism revenues(1)
(36,242)(35,952)(36,923)
Wholesale energy sales40,839 33,656 71,198 
Transmission wheeling-related revenues67,997 51,592 53,828 
Energy efficiency program revenues29,920 42,478 40,128 
Other revenues from contracts with customers27,804 27,133 26,444 
Total revenues from contracts with customers$1,382,653 $1,286,637 $1,285,286 
(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 AFUDC on construction work in progress related to the 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.

Retail Revenues: Idaho Power’s retail revenues primarily relate to the sale of electricity to customers based on regulated tariff-based prices. Idaho Power recognizes retail revenues in amounts for which it has the right to invoice the customer in the period when energy is delivered or services are provided to customers. The total energy price generally has a fixed component related to having service available and a usage-based component related to the demand, delivery, and consumption of energy. The revenues recognized reflect the consideration Idaho Power expects to be entitled to in exchange for energy and services. Retail customers are classified as residential, commercial, industrial, or irrigation. Approximately 95 percent of Idaho Power's retail revenue originates from customers located in Idaho, with the remainder originating from customers located in Oregon. Idaho Power’s retail customer rates are based on Idaho Power’s cost of service and are determined through general rate case proceedings, settlement stipulations, and other filings with the IPUC and OPUC. Changes in rates and changes in customer demand are typically the primary causes of fluctuations in retail revenue from period to period. The primary influences on changes in customer demand for electricity are weather, economic conditions (including growth in the number of Idaho Power customers), and energy efficiency. Idaho Power's utility revenues are not earned evenly during the year.

Retail revenues are billed monthly based on meter readings taken throughout the month. Payments for amounts billed are generally due from the customer within 15 days of billing. Idaho Power accrues estimated unbilled revenues for energy or related services delivered to customers but not yet billed at period-end based on actual meter readings at period-end and estimated rates.

Residential Customers: Idaho Power’s energy sales to residential customers typically peak during the winter heating season and summer cooling season. Extreme temperatures increase sales to residential customers who use electricity for cooling and heating, compared with normal temperatures. Idaho Power's rate structure provides for higher rates during the summer when overall system loads are at their highest, and includes tiers such that rates increase as a customer's consumption level increases. These seasonal and tiered rate structures contribute to the seasonal fluctuations in revenues and earnings. Economic and demographic conditions can also affect residential customer demand; strong job growth and population growth in Idaho Power’s service area have led to increasing customer growth rates in recent years. Residential demand is also impacted by energy efficiency initiatives. Idaho Power’s FCA mechanism mitigates some of the fluctuations caused by weather and energy efficiency initiatives.

Commercial Customers: Most businesses are included in Idaho Power's commercial customer class, as are small industrial companies, and public street and highway lighting accounts. Idaho Power’s commercial customers are less influenced by weather conditions than residential customers, although weather does still affect commercial customer energy use. Economic conditions, including manufacturing activity levels, and energy efficiency initiatives also affect energy use of commercial customers. In 2021, a return to more normal economic conditions for commercial customers compared with 2020 increased sales volumes on a per customer basis, as 2020 was affected by negative COVID-19-related business conditions.

Industrial Customers: Industrial customers consist of large industrial companies, including special contract customers. Energy use of industrial customers is primarily driven by economic conditions, with weather having little impact on this customer class. In 2021, a return to more normal economic conditions for industrial customers compared with 2020 increased sales volumes on a per customer basis, as 2020 was affected by negative COVID-19-related business conditions.

Irrigation Customers: Irrigation customers use electricity to operate irrigation pumps, primarily during the agricultural growing season. The amount and timing of precipitation as well as temperature levels affect the timing and amounts of sales to irrigation customers, with increased precipitation generally resulting in decreased sales.

Provision for Sharing: Idaho Power has regulatory settlement stipulations in Idaho that provide for the potential sharing between Idaho Power and its Idaho customers of Idaho-jurisdictional earnings in excess of 10.0 percent of Idaho ROE. Based on full-year 2021 Idaho ROE, Idaho Power recorded $0.6 million provision against current revenues for sharing of earnings with customers for 2021. During 2020 and 2019, no provision against current revenues for sharing of earnings with customers was recorded. The regulatory settlement stipulations are described further in Note 3 - "Regulatory Matters."

Wholesale Energy Sales: As a public utility under the Federal Power Act (FPA), Idaho Power has the authority to charge market-based rates for wholesale energy sales under its FERC tariff. Idaho Power’s wholesale electricity sales are primarily to utilities and power marketers and are predominantly short-term and consist of a single performance obligation satisfied as
energy is transferred to the counterparty. Idaho Power's wholesale energy sales depend largely on the availability of generation resources in excess of the amount necessary to serve customer loads as well as adequate market power prices and demand at the time when those resources are available. A reduction in any of those factors may lead to lower wholesale energy sales.

Transmission Wheeling-Related Revenues: As a public utility under the FPA, Idaho Power has the authority to provide cost-based wholesale and retail access transmission services under its OATT. Services under the OATT are offered on a nondiscriminatory basis such that all potential customers have an equal opportunity to access the transmission system. Idaho Power’s transmission revenue is primarily related to third parties reserving capacity on Idaho Power’s transmission system to transmit electricity through Idaho Power’s service area. Reservations are predominantly short-term contracts or on-demand when available, but may be part of a long-term capacity contract. Transmission wheeling-related revenues consist of a single performance obligation satisfied as capacity on Idaho Power’s transmission system is provided to the third party. Transmission wheeling-related revenues are affected by changes in Idaho Power’s OATT rate and customer demand. Demand for transmission services can be affected by regional market factors, such as loads and generation of utilities in Idaho Power’s region.

Energy Efficiency Program Revenues: Idaho Power collects most of its energy efficiency program costs through an energy efficiency rider on customer bills. The rider collections are deferred until expenditures are incurred. Energy efficiency program expenditures funded through the rider are reported as an operating expense with an equal amount recognized in revenues, resulting in no net impact on earnings. Fewer energy efficiency projects were completed in 2021 due mostly to impacts of the COVID-19 public health crisis which decreased energy efficiency program revenues compared with prior years. The cumulative variance between expenditures and amounts collected through the rider is recorded as a regulatory asset or liability. A liability balance indicates that Idaho Power has collected more than it has spent, and an asset balance indicates that Idaho Power has spent more than it has collected. At December 31, 2021, Idaho Power's energy efficiency rider balances were a $6.9 million regulatory asset in the Idaho jurisdiction and a $0.7 million regulatory asset in the Oregon jurisdiction. In December 2020, the IPUC authorized Idaho Power to increase the Idaho energy efficiency rider collection percentage from 2.75 percent to 3.1 percent, effective January 1, 2021.

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 consolidated statements of income. For more information on settled electricity swaps, see Note 16 - "Derivative Financial Instruments."

The table below presents the FCA mechanism revenues and derivative revenues (in thousands):
Year Ended December 31,
 202120202019
Alternative revenue programs and derivative revenues:
FCA mechanism revenues$36,242 $35,952 $36,923 
Derivative revenues36,515 24,751 20,731 
Total alternative revenue programs and derivative revenues$72,757 $60,703 $57,654 

IDACORP's Other Operating Revenues
Other operating revenues on IDACORP's consolidated statements of income are primarily comprised of revenues from IDACORP’s subsidiary, Ida-West. Ida-West operates small hydropower generation projects that satisfy the requirements of PURPA.
v3.22.0.1
Long-Term Debt
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Long-term Debt
The following table summarizes IDACORP's and Idaho Power's long-term debt at December 31 (in thousands of dollars):
20212020
First mortgage bonds:
2.50% Series due 2023
$75,000 $75,000 
1.90% Series due 2030
80,000 80,000 
6.00% Series due 2032
100,000 100,000 
5.50% Series due 2033
70,000 70,000 
5.50% Series due 2034
50,000 50,000 
5.875% Series due 2034
55,000 55,000 
5.30% Series due 2035
60,000 60,000 
6.30% Series due 2037
140,000 140,000 
6.25% Series due 2037
100,000 100,000 
4.85% Series due 2040
100,000 100,000 
4.30% Series due 2042
75,000 75,000 
4.00% Series due 2043
75,000 75,000 
3.65% Series due 2045
250,000 250,000 
4.05% Series due 2046
120,000 120,000 
4.20% Series due 2048
450,000 450,000 
Total first mortgage bonds1,800,000 1,800,000 
Pollution control revenue bonds:
1.45% Series due 2024(1)
49,800 49,800 
1.70% Series due 2026(1)
116,300 116,300 
Variable Rate Series 2000 due 20274,360 4,360 
Total pollution control revenue bonds170,460 170,460 
American Falls bond guarantee19,885 19,885 
Unamortized premium/discount and issuance costs10,295 10,069 
Total IDACORP and Idaho Power outstanding debt(2)
2,000,640 2,000,414 
Current maturities of long-term debt— — 
Total long-term debt$2,000,640 $2,000,414 
(1) Humboldt County and Sweetwater County Pollution Control Revenue Bonds are secured by the first mortgage bonds, bringing the total first mortgage bonds outstanding at December 31, 2021, to $1.966 billion.
(2) At both December 31, 2021 and 2020, the overall effective cost rate of Idaho Power's outstanding debt was 4.40 percent.

At December 31, 2021, the maturities for the aggregate amount of IDACORP and Idaho Power long-term debt outstanding were as follows (in thousands of dollars):
20222023202420252026Thereafter
$— $75,000 $49,800 $19,885 $116,300 $1,729,360 
 
Long-Term Debt Issuances, Maturities, and Redemptions

In April 2020, Idaho Power issued $230.0 million in principal amount of 4.20% first mortgage bonds, secured medium term notes, Series K, maturing March 1, 2048. The bonds were issued at a reoffer yield of 3.422 percent, which resulted in a net premium of 13.0 percent and net proceeds to Idaho Power of $259.9 million. After this offering the aggregate principal amount of the 4.20% first mortgage bonds is $450 million.
In June 2020, Idaho Power issued $80.0 million in principal amount of 1.90% first mortgage bonds, secured medium term notes, Series L, maturing July 15, 2030. In July 2020, Idaho Power redeemed, prior to maturity, $75 million in principal amount of 2.95 percent first mortgage bonds, medium-term notes, Series H due in April 2022. In accordance with the redemption provisions of the notes, the redemption included Idaho Power's payment of a make-whole premium to the holders of the redeemed notes in the aggregate amount of $3.3 million.

In August 2020, Idaho Power redeemed $100 million in principal amount of 3.40 percent first mortgage bonds due in November 2020.

Idaho Power First Mortgage Bonds

Idaho Power's issuance of long-term indebtedness is subject to the approval of the IPUC, OPUC, and Wyoming Public Service Commission (WPSC). In April and May 2019, Idaho Power received orders from the IPUC, OPUC, and WPSC authorizing the company to issue and sell from time to time up to $500 million in aggregate principal amount of debt securities and first mortgage bonds, subject to conditions specified in the orders. Authority from the IPUC is effective through May 31, 2022, subject to extensions upon request to the IPUC. The OPUC's and WPSC's orders do not impose a time limitation for issuances, but the OPUC order does impose a number of other conditions, including a requirement that the interest rates for the debt securities or first mortgage bonds fall within either (a) designated spreads over comparable U.S. Treasury rates or (b) a maximum interest rate limit of 7.0 percent.

In May 2019, Idaho Power filed a shelf registration statement with the SEC, which became effective upon filing, for the offer and sale of an unspecified principal amount of its first mortgage bonds. The issuance of first mortgage bonds requires that Idaho Power meet interest coverage and security provisions set forth in Idaho Power's Indenture of Mortgage and Deed of Trust, dated as of October 1, 1937, as amended and supplemented from time to time (Indenture). Future issuances of first mortgage bonds are subject to satisfaction of covenants and security provisions set forth in the Indenture, market conditions, regulatory authorizations, and covenants contained in other financing agreements.

In June 2020, Idaho Power entered into a selling agency agreement with six banks named in the agreement in
connection with the potential issuance and sale from time to time of up to $500 million aggregate principal amount of first
mortgage bonds, secured medium term notes, Series L (Series L Notes), under Idaho Power’s Indenture of Mortgage and Deed
of Trust, dated as of October 1, 1937, as amended and supplemented (Indenture). Also in June 2020, Idaho Power
entered into the Forty-ninth Supplemental Indenture, dated effective as of June 5, 2020, to the Indenture (Forty-ninth
Supplemental Indenture). The Forty-ninth Supplemental Indenture provides for, among other items, the issuance of up to
$500 million in aggregate principal amount of Series L Notes pursuant to the Indenture.

The mortgage of the Indenture secures all bonds issued under the Indenture equally and ratably, without preference, priority, or distinction. First mortgage bonds issued in the future will also be secured by the mortgage of the Indenture. The lien constitutes a first mortgage on all the properties of Idaho Power, subject only to certain limited exceptions including liens for taxes and assessments that are not delinquent and minor excepted encumbrances. Certain of the properties of Idaho Power are subject to easements, leases, contracts, covenants, workmen's compensation awards, and similar encumbrances and minor defects common to properties. The mortgage of the Indenture does not create a lien on revenues or profits, or notes or accounts receivable, contracts or choses in action, except as permitted by law during a completed default, securities, or cash, except when pledged, or merchandise or equipment manufactured or acquired for resale. The mortgage of the Indenture creates a lien on the interest of Idaho Power in property subsequently acquired, other than excepted property, subject to limitations in the case of consolidation, merger, or sale of all or substantially all of the assets of Idaho Power. The Indenture requires Idaho Power to spend or appropriate 15 percent of its annual gross operating revenues for maintenance, retirement, or amortization of its properties. Idaho Power may, however, anticipate or make up these expenditures or appropriations within the 5 years that immediately follow or precede a particular year.

The Forty-eighth Supplemental Indenture increased the maximum amount of first mortgage bonds issuable by Idaho Power under the Indenture from $2.0 billion to $2.5 billion. Idaho Power may amend the Indenture and increase this amount without consent of the holders of the first mortgage bonds. The amount issuable is also restricted by property, earnings, and other provisions of the Indenture and supplemental indentures to the Indenture. The Indenture requires that Idaho Power's net earnings be at least twice the annual interest requirements on all outstanding debt of equal or prior rank, including the bonds that Idaho Power may propose to issue. Under certain circumstances, the net earnings test does not apply, including the issuance of refunding bonds to retire outstanding bonds that mature in less than 2 years or that are of an equal or higher interest rate, or prior lien bonds.
As of December 31, 2021, Idaho Power could issue under its Indenture approximately $2.1 billion of additional first mortgage bonds based on retired first mortgage bonds and total unfunded property additions. These amounts are further limited by the maximum amount of first mortgage bonds set forth in the Forty-ninth Supplemental Indenture. As a result, the maximum amount of first mortgage bonds Idaho Power could issue as of December 31, 2021, was limited to approximately $534 million under the Indenture.
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NOTES PAYABLE:
 12 Months Ended
Dec. 31, 2021
Notes Payable [Abstract]  
Notes Payable NOTES PAYABLE
 
Credit Facilities
 
The IDACORP credit facility, which may be used for general corporate purposes and commercial paper backup, consists of a revolving line of credit not to exceed the aggregate principal amount at any one time outstanding of $100 million, including swingline loans in an aggregate principal amount at any time outstanding not to exceed $10 million, and letters of credit in an aggregate principal amount at any time outstanding not to exceed $50 million. The Idaho Power credit facility, which may be used for general corporate purpose and commercial paper backup, consists of a revolving line of credit, through the issuance of loans and standby letters of credit, not to exceed the aggregate principal amount at any one time outstanding of $300 million, including swingline loans in an aggregate principal amount at any time outstanding not to exceed $30 million, and letters of credit in an aggregate principal amount at any time outstanding not to exceed $50 million. IDACORP and Idaho Power have the right to request an increase in the aggregate principal amount of the facilities to $150 million and $450 million, respectively, in each case subject to certain conditions.

The IDACORP and Idaho Power credit facilities have similar terms and conditions. The interest rates for any borrowings under the facilities are based on either (1) a floating rate that is equal to the highest of the prime rate, federal funds rate plus 0.5 percent, or London interbank offered rate (LIBOR) Market Index rate plus 1.0 percent, or (2) the LIBOR Market Index rate, plus, in each case, an applicable margin, provided that the federal funds rate and LIBOR rate will not be less than zero. The Secured Overnight Financing Rate (SOFR) plus a defined benchmark adjustment would replace the LIBOR Market Index rate during any period in which the LIBOR rate is unavailable or unascertainable. If during any period both the LIBOR and SOFR rates are unavailable or unascertainable, an alternate benchmark rate selected by the administrative agent and the borrower would apply. The applicable margin is based on IDACORP's or Idaho Power's, as applicable, senior unsecured long-term indebtedness credit rating by rating agencies, as set forth on a schedule to the credit facility agreements. Under their respective credit facilities, the companies pay a facility fee on the commitment based on the respective company's credit rating for senior unsecured long-term debt securities. In December 2021, IDACORP and Idaho Power amended their outstanding credit agreements to extend the termination dates of each facility to December 6, 2025, and provided additional information on potential alternatives, successors or replacement rates for LIBOR in the event it is no longer available as of the date of borrowing, among other things. While the credit facilities provide for an original maturity date of December 6, 2025, the credit agreements grant IDACORP and Idaho Power the right to request up to two one-year extensions, subject to certain conditions.
 
At December 31, 2021, no loans were outstanding under either IDACORP's or Idaho Power's facilities. At December 31, 2021, Idaho Power had regulatory authority to incur up to $450 million in principal amount of short-term indebtedness at any one time outstanding through December of 2026. IDACORP’s and Idaho Power's short-term borrowings were zero at both December 31, 2021 and 2020.
v3.22.0.1
COMMON STOCK:
 12 Months Ended
Dec. 31, 2021
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]  
Common Stock COMMON STOCK
 
IDACORP Common Stock

The following table summarizes IDACORP common stock transactions during the last three years and shares reserved at December 31, 2021:
 Shares issuedShares reserved
 202120202019December 31, 2021
Balance at beginning of year50,461,88550,420,01750,420,017 
Continuous equity program (inactive)———3,000,000
Dividend reinvestment and stock purchase plan———2,840,117
Employee savings plan———3,567,954
Long-term incentive and compensation plan(1)
54,59441,868—1,260,267
Balance at end of year50,516,47950,461,88550,420,017 
(1) During 2021, 2020, and 2019, IDACORP granted 76,147, 75,030, and 70,419 restricted stock unit awards, respectively, to employees and 14,025, 10,296, and 9,594 shares of common stock, respectively, to directors. During 2021 and 2020, IDACORP issued 54,594 and 41,868 shares of common stock, respectively, using original issuances of shares pursuant to the IDACORP, Inc. 2000 Long-Term Incentive and Compensation Plan, including 12,784 and 8,938 shares of common stock, respectively, issued to members of the board of directors. During 2019, IDACORP made no original issuances of shares of common stock.

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 December 31, 2021, the leverage ratios for IDACORP and Idaho Power were 43 percent and 45 percent, respectively. Based on these restrictions, IDACORP’s and Idaho Power’s dividends were limited to $1.6 billion and $1.4 billion, respectively, at December 31, 2021. 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 December 31, 2021, 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 December 31, 2021, Idaho Power's common equity capital was 55 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 FPA prohibits the payment of dividends from "capital accounts." The term "capital account" is undefined in the FPA 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.
v3.22.0.1
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION:
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Share-based compensation SHARE-BASED COMPENSATION
 
IDACORP has one share-based compensation plan — the 2000 Long-Term Incentive and Compensation Plan (LTICP). The LTICP (for officers, key employees, and directors) permits the grant of stock options, restricted stock and restricted stock units (together, Restricted Stock), performance shares and performance-based units (together, Performance-Based Shares), and several other types of share-based awards. At December 31, 2021, the maximum number of shares available under the LTICP was 443,663.
 
Restricted Stock and Performance-Based Shares Awards

Restricted Stock awards have three-year vesting periods and entitle the recipients to dividends or dividend equivalents, as applicable, and voting rights, except that holders of restricted stock units do not have voting rights until the units are vested and settled in shares. Unvested awards are restricted as to disposition and subject to forfeiture under certain circumstances. The fair value of these awards is based on the closing market price of common stock on the grant date and is charged to compensation expense over the vesting period, reduced for any forfeitures during the vesting period.
 
Performance-Based Shares awards have three-year vesting periods and entitle the recipients to voting rights, except that holders of performance-based units do not have voting rights until the units are vested and settled in shares. Unvested awards are restricted as to disposition, subject to forfeiture under certain circumstances, and subject to the attainment of specific performance conditions over the three-year vesting period. The performance conditions are two equally-weighted metrics, cumulative earnings per share (CEPS) and total shareholder return (TSR) relative to a peer group. Depending on the level of attainment of the performance conditions and the year issued, the final number of shares awarded can range from zero to 200 percent of the target award. Dividends or dividend equivalents, as applicable, are accrued during the vesting period and paid out based on the final number of shares awarded.
 
The grant-date fair value of the CEPS portion is based on the closing market value at the date of grant, reduced by the loss in time-value of the estimated future dividend payments. The fair value of this portion of the awards is charged to compensation expense over the requisite service period based on the estimated achievement of performance targets, reduced for any forfeitures during the vesting period. The grant-date fair value of the TSR portion is estimated using the market value at the date of grant and a statistical model that incorporates the probability of meeting performance targets based on historical returns relative to the peer group. The fair value of this portion of the awards is charged to compensation expense over the requisite service period, provided the requisite service period is rendered, regardless of the level of TSR metric attained.

A summary of Restricted Stock and Performance-Based Shares award activity is presented below. Idaho Power share amounts represent the portion of IDACORP amounts related to Idaho Power employees:
 IDACORPIdaho Power
Number of
Shares/Units		Weighted-Average
Grant Date
Fair Value		Number of
Shares/Units		Weighted-Average
Grant Date
Fair Value
Nonvested shares/units at January 1, 2021157,035 $100.89 156,013 $100.90 
Shares/units granted96,345 87.76 95,821 87.76 
Shares/units forfeited(2,210)98.72 (2,210)98.72 
Shares/units vested(75,914)87.24 (75,415)87.24 
Nonvested shares/units at December 31, 2021175,256 $99.61 174,209 $99.61 
 
The total fair value of shares vested was $6.7 million in 2021, $10.5 million in 2020, and $9.4 million in 2019. At December 31, 2021, IDACORP had $7.5 million of total unrecognized compensation cost related to nonvested share-based compensation, nearly all of which was Idaho Power's share. These costs are expected to be recognized over a weighted-average period of 1.7 years. IDACORP uses original issue shares for these awards.
 
In 2021, a total of 14,025 shares were awarded to directors at an average grant date fair value of $86.24 per share. Directors elected to defer receipt of 2,550 of these shares, which are being held as deferred stock units with dividend equivalents reinvested in additional stock units.

Compensation Expense: The following table shows the compensation cost recognized in income and the tax benefits resulting from the LTICP, as well as the amounts allocated to Idaho Power for those costs associated with Idaho Power’s employees (in thousands of dollars): 
 IDACORPIdaho Power
 202120202019202120202019
Compensation cost$8,583 $7,416 $8,788 $8,497 $7,339 $8,639 
Income tax benefit2,209 1,909 2,262 2,187 1,889 2,224 
No equity compensation costs have been capitalized. These costs are primarily reported within "Other operations and maintenance" expense on the consolidated statements of income.
v3.22.0.1
EARNINGS PER SHARE:
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
 
The following table presents the computation of IDACORP’s basic and diluted earnings per share for the years ended December 31, 2021, 2020, and 2019 (in thousands, except for per share amounts):
Year Ended December 31,
 202120202019
Numerator:   
Net income attributable to IDACORP, Inc.$245,550 $237,417 $232,854 
Denominator:  
Weighted-average common shares outstanding - basic50,599 50,538 50,502 
Effect of dilutive securities463435
Weighted-average common shares outstanding - diluted50,645 50,572 50,537 
Basic earnings per share$4.85 $4.70 $4.61 
Diluted earnings per share$4.85 $4.69 $4.61 
v3.22.0.1
COMMITMENTS:
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments COMMITMENTS
 
Purchase Obligations

At December 31, 2021, Idaho Power had the following long-term commitments relating to purchases of energy, capacity, transmission rights, and fuel (in thousands of dollars):
 20222023202420252026Thereafter
Cogeneration and power production$298,867 $308,741 $311,968 $296,579 $293,508 $2,456,582 
Fuel62,287 19,328 8,663 8,362 8,354 58,355 

As of December 31, 2021, Idaho Power had 1,137 megawatt (MW) nameplate capacity of PURPA-related projects on-line, with an additional 75 MW nameplate capacity of projects projected to be on-line by 2024. The power purchase contracts for these projects have original contract terms ranging from one to 35 years. Idaho Power's expenses associated with PURPA-related projects were approximately $200 million in 2021, $194 million in 2020, and $187 million in 2019. In February 2022, Idaho Power entered into a 20-year power purchase agreement with a planned 40 MW solar facility expected to be in service in 2023 which increased Idaho Power's contractual purchase obligations by approximately $78 million over the term of the contract.

Idaho Power also has the following long-term commitments (in thousands of dollars):
 20222023202420252026Thereafter
Joint-operating agreement payments(1)
$2,822 $2,822 $2,822 $2,822 $2,822 $14,110 
Easements and other payments1,925 1,965 2,006 2,049 2,092 11,136 
Maintenance and service agreements(1)
97,847 13,522 10,134 6,319 6,592 46,764 
FERC and other industry-related fees(1)
16,772 14,549 14,174 14,174 14,174 70,870 
(1) Approximately $28 million, $18 million, and $143 million of the obligations included in joint-operating agreement payments, maintenance and service agreements, and FERC and other industry-related fees, respectively, have contracts that do not specify terms related to expiration. As these contracts are presumed to continue indefinitely, ten years of information, estimated based on current contract terms, has been included in the table for presentation purposes.

At IDACORP, long-term purchase commitments of $3 million are mostly comprised of other long-term liabilities at Ida-West, of which approximately $2 million relate to contracts that do not specify terms related to expiration. At December 31, 2021, IDACORP had a commitment to invest an additional $8.5 million into a private market investment fund, which is expected to occur over the next few years. IDACORP’s expense for operating leases was not material for the years ended 2021, 2020, and 2019.
 
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 WDEQ, was $51.6 million at December 31, 2021, representing IERCo's one-third share of BCC's total reclamation obligation of $154.7 million. BCC has a reclamation trust fund set aside specifically for the purpose of paying these reclamation costs. At December 31, 2021, the value of the reclamation trust fund was $211.2 million. During 2021, the reclamation trust fund made $21.1 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 December 31, 2021, management believes 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 consolidated balance sheets with respect to these indemnification obligations.
v3.22.0.1
CONTINGENCIES:
 12 Months Ended
Dec. 31, 2021
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 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.
v3.22.0.1
BENEFIT PLANS:
 12 Months Ended
Dec. 31, 2021
Retirement Benefits, Description [Abstract]  
Benefit Plans BENEFIT PLANS
 
Idaho Power sponsors defined benefit and other postretirement benefit plans that cover the majority of its employees. Idaho Power also sponsors a defined contribution 401(k) employee savings plan and provides certain post-employment benefits.

Pension Plans

Idaho Power has pension plans–a noncontributory defined benefit pension plan (pension plan) and two nonqualified defined benefit pension 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 these plans are based on years of service and the employee's final average earnings.
 
The following table summarizes the changes in benefit obligations and plan assets of these plans (in thousands of dollars): 
 Pension PlanSMSP
 2021202020212020
 
Change in projected benefit obligation:    
Benefit obligation at January 1$1,337,395 $1,134,752 $134,791 $122,443 
Service cost54,202 42,987 813 213 
Interest cost37,317 40,013 3,557 4,350 
Actuarial (gain) loss(35,833)163,610 33 13,420 
Plan amendment— — — 130 
Benefits paid(46,551)(43,967)(6,182)(5,765)
Projected benefit obligation at December 311,346,530 1,337,395 133,012 134,791 
Change in plan assets:  
Fair value at January 1871,603 763,119 — — 
Actual return on plan assets119,412 112,451 — — 
Employer contributions40,000 40,000 — — 
Benefits paid(46,551)(43,967)— — 
Fair value at December 31984,464 871,603 — — 
Funded status at end of year$(362,066)$(465,792)$(133,012)$(134,791)
Amounts recognized in the balance sheet consist of:    
Other current liabilities$— $— $(6,226)$(6,154)
Noncurrent liabilities(362,066)(465,792)(126,786)(128,637)
Net amount recognized
$(362,066)$(465,792)$(133,012)$(134,791)
Amounts recognized in accumulated other comprehensive income consist of:
    
Net loss$322,908 $437,859 $51,365 $55,537 
Prior service cost43 49 2,687 2,983 
Subtotal322,951 437,908 54,052 58,520 
Less amount recorded as regulatory asset(1)
(322,951)(437,908)— — 
Net amount recognized in accumulated other comprehensive income
$— $— $54,052 $58,520 
Accumulated benefit obligation$1,120,036 $1,115,923 $121,591 $119,517 
(1) Changes in the funded status of the pension plan that would be recorded in accumulated other comprehensive income for an unregulated entity are recorded as a regulatory asset for Idaho Power as Idaho Power believes it is probable that an amount equal to the regulatory asset will be collected through the setting of future rates.
 
The actuarial gains reflected in the benefit obligations for the pension and SMSP plans in 2021 are due primarily to increases in the assumed discount rates of both plans from December 31, 2020, to December 31, 2021. The actuarial losses affecting the
benefit obligations for the pension and SMSP plans in 2020 are due primarily to decreases in the assumed discount rates from December 31, 2019, to December 31, 2020. For more information on discount rates, see “Plan Assumptions” below in this Note 12.

As a non-qualified plan, the SMSP has no plan assets. However, Idaho Power has a Rabbi trust designated to provide funding for SMSP obligations. The Rabbi trust holds investments in marketable securities and corporate-owned life insurance. The recorded value of these investments was approximately $117.1 million and $108.8 million at December 31, 2021 and 2020, respectively, and is reflected in Investments and in company-owned life insurance on the consolidated balance sheets.

The following table shows the components of net periodic pension cost for these plans (in thousands of dollars). For purposes of calculating the expected return on plan assets, the market-related value of assets is equal to the fair value of the assets.
 Pension PlanSMSP
 202120202019202120202019
Service cost$54,202 $42,987 $34,061 $813 $213 $(181)
Interest cost37,317 40,013 42,312 3,557 4,350 4,575 
Expected return on assets(64,090)(56,239)(48,623)— — — 
Amortization of net loss23,796 17,325 13,564 4,205 3,734 2,533 
Amortization of prior service cost6 6 6 296 290 96 
Net periodic pension cost51,231 44,092 41,320 8,871 8,587 7,023 
Regulatory deferral of net periodic pension cost(1)
(48,962)(42,042)(39,379)— — — 
Previously deferred pension cost recognized(1)
17,154 17,154 17,154 — — — 
Net periodic pension cost recognized for financial reporting(1)(2)
$19,423 $19,204 $19,095 $8,871 $8,587 $7,023 
(1) Net periodic pension 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 pension 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 pension cost recognized for financial reporting $17.8 million, $15.9 million, and $15.1 million respectively, was recognized in "Other operations and maintenance" and $10.5 million, and $11.9 million, and $11.0 million respectively, was recognized in "Other (income) expense, net" on the consolidated statements of income of the companies for the twelve months ended December 31, 2021, 2020, and 2019.

The following table shows the components of other comprehensive (loss) income for the plans (in thousands of dollars):
 Pension PlanSMSP
 202120202019202120202019
Actuarial gain (loss) during the year$91,156 $(107,399)$(82,631)$(33)$(13,420)$(17,888)
Plan amendment service cost— — — — (130)(2,839)
Reclassification adjustments for:
Amortization of net loss23,796 17,325 13,564 4,205 3,734 2,533 
Amortization of prior service cost6 6 6 296 290 96 
Adjustment for deferred tax effects(29,590)23,184 17,776 (1,150)2,452 4,658 
Adjustment due to the effects of regulation
(85,368)66,884 51,285 — — — 
Other comprehensive income (loss) recognized related to pension benefit plans$— $— $— $3,318 $(7,074)$(13,440)

The following table summarizes the expected future benefit payments of these plans (in thousands of dollars):
 202220232024202520262026-2030
Pension Plan$45,239 $47,038 $48,890 $50,850 $52,855 $293,409 
SMSP6,226 6,439 6,619 6,638 6,738 34,700 
 
Idaho Power’s funding policy for the pension plan is to contribute at least the minimum required under the Employee Retirement Income Security Act of 1974 (ERISA) but not more than the maximum amount deductible for income tax purposes. In 2021, 2020, and 2019, Idaho Power elected to contribute more than the minimum required amounts in order to bring the pension plan to a more funded position, to reduce future required contributions, and to reduce Pension Benefit Guaranty Corporation premiums. As of the date of this report, IDACORP and Idaho Power have no estimated minimum required
contributions to the pension plan for 2022. Depending on market conditions and cash flow considerations in 2022, Idaho Power could contribute up to $40 million to the pension plan during 2022 in order to help balance the regulatory collection of these expenditures with the amount and timing of contributions and to mitigate the cost of being in an underfunded position.

Postretirement Benefits

Idaho Power 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. Retirees hired on or after January 1, 1999, have access to the standard medical option at full cost, with no contribution by Idaho Power. Benefits for employees who retire after December 31, 2002, are limited to a fixed amount, which has limited the growth of Idaho Power’s future obligations under this plan.
 
The following table summarizes the changes in benefit obligation and plan assets (in thousands of dollars):
 20212020
Change in accumulated benefit obligation:  
Benefit obligation at January 1$80,952 $71,029 
Service cost1,063 1,029 
Interest cost2,059 2,493 
Actuarial (gain) loss (5,805)9,359 
Benefits paid(1)
(4,194)(2,958)
Benefit obligation at December 3174,075 80,952 
Change in plan assets:  
Fair value of plan assets at January 141,311 39,625 
Actual return on plan assets6,308 5,248 
Employer contributions(1)
(1,961)(604)
Benefits paid(1)
(4,194)(2,958)
Fair value of plan assets at December 3141,464 41,311 
Funded status at end of year (included in noncurrent liabilities)$(32,611)$(39,641)
(1) Contributions and benefits paid are each net of $3.0 million and $3.4 million of plan participant contributions for 2021 and 2020, respectively.

Amounts recognized in accumulated other comprehensive income consist of the following (in thousands of dollars):
 20212020
Net (gain) loss$(8,020)$6,434 
Prior service cost80 127 
Subtotal(7,940)6,561 
Less amount recognized in regulatory assets7,940 (6,561)
Net amount recognized in accumulated other comprehensive income$— $— 

The net periodic postretirement benefit cost was as follows (in thousands of dollars):

 202120202019
Service cost$1,063 $1,029 $853 
Interest cost2,059 2,493 2,989 
Expected return on plan assets(2,395)(2,404)(2,220)
Immediate recognition of loss from temporary deviation(1)
4,736 — — 
Amortization of prior service cost47 47 48 
Net periodic postretirement benefit cost$5,510 $1,165 $1,670 
(1) In 2021, a loss associated with a temporary deviation from the cost-sharing provisions of the substantive plan was recognized in "Other (income) expense, net" on the consolidated statements of income of the companies.
The following table shows the components of other comprehensive income for the plan (in thousands of dollars):
 202120202019
Actuarial gain (loss) during the year$9,718 $(6,515)$(249)
Reclassification adjustments for:
Immediate recognition of loss from temporary deviation(1)
4,736 — — 
Reclassification adjustments for amortization of prior service cost47 47 48 
Adjustment for deferred tax effects(2,514)1,665 52 
Adjustment due to the effects of regulation
(11,987)4,803 149 
Other comprehensive income related to postretirement benefit plans
$— $— $— 
(1) In 2021, a loss associated with a temporary deviation from the cost-sharing provisions of the substantive plan was recognized in "Other (income) expense, net" on the consolidated statements of income of the companies.
 
The following table summarizes the expected future benefit payments of the postretirement benefit plan (in thousands of dollars):
 202220232024202520262026-2029
Expected benefit payments$5,447 $5,241 $4,982 $4,790 $4,557 $19,841 
 
Plan Assumptions
 
The following table sets forth the weighted-average assumptions used at the end of each year to determine benefit obligations for all Idaho Power-sponsored pension and postretirement benefits plans:
Pension PlanSMSPPostretirement
Benefits
 202120202021202020212020
Discount rate3.05 %2.80 %3.00 %2.70 %2.95 %2.70 %
Rate of compensation increase(1)
4.49 %4.43 %4.75 %4.75 %— — 
Medical trend rate— — — — 6.3 %6.8 %
Dental trend rate— — — — 3.5 %4.0 %
Measurement date12/31/202112/31/202012/31/202112/31/202012/31/202112/31/2020
(1) The 2021 rate of compensation increase assumption for the pension plan includes an inflation component of 2.40% plus a 2.09% composite merit increase component that is based on employees' years of service. Merit salary increases are assumed to be 8.0% for employees in their first year of service and scale down to 0.6% for employees in their fortieth year of service and beyond.

The following table sets forth the weighted-average assumptions used to determine net periodic benefit cost for all Idaho Power-sponsored pension and postretirement benefit plans: 
Pension PlanSMSPPostretirement
Benefits
 202120202019202120202019202120202019
Discount rate2.80 %3.60 %4.55 %2.70 %3.65 %4.60 %2.70 %3.60 %4.60 %
Expected long-term rate of return on assets
7.40 %7.40 %7.50 %— — — 6.00 %6.50 %6.75 %
Rate of compensation increase4.49 %4.43 %4.37 %4.75 %4.75 %4.75 %— — %— %
Medical trend rate— — — — — — 6.3 %6.8 %6.7 %
Dental trend rate— — — — — — 3.5 %4.0 %4.0 %
  
The assumed health care cost trend rate used to measure the expected cost of health benefits covered by the postretirement plan was 6.3 percent in 2021 and is assumed to decrease to 5.7 percent in 2022, 5.1 percent in 2023 and 2024, 5.0 percent in 2025 and to gradually decrease to 3.9 percent by 2074. The assumed dental cost trend rate used to measure the expected cost of dental benefits covered by the plan was 3.5 percent, or equal to the medical trend rate if lower, for all years.
Plan Assets

Pension Asset Allocation Policy: The target allocation and actual allocations at December 31, 2021, for the pension asset portfolio by asset class is set forth below:
Asset ClassTarget
Allocation		Actual
Allocation
December 31, 2021
Debt securities24 %23 %
Equity securities59 %61 %
Real estate9 %8 %
Other plan assets8 %8 %
Total100 %100 %
 
Assets are rebalanced as necessary to keep the portfolio close to target allocations. The plan’s principal investment objective is to maximize total return (defined as the sum of realized interest and dividend income and realized and unrealized gain or loss in market price) consistent with prudent parameters of risk and the liability profile of the portfolio. Emphasis is placed on preservation and growth of capital along with adequacy of cash flow sufficient to fund current and future payments to plan participants.
 
The three major goals in Idaho Power’s asset allocation process are to:

•determine if the investments have the potential to earn the rate of return assumed in the actuarial liability calculations;
•match the cash flow needs of the plan. Idaho Power sets bond allocations sufficient to cover approximately five years of benefit payments. Idaho Power then utilizes growth instruments (equities, real estate, venture capital) to fund the longer-term liabilities of the plan; and
•maintain a prudent risk profile consistent with ERISA fiduciary standards.
 
Allowable plan investments include stocks and stock funds, investment-grade bonds and bond funds, real estate funds, private equity funds, and cash and cash equivalents. With the exception of real estate holdings and private equity, investments must be readily marketable so that an entire holding can be disposed of quickly with only a minor effect upon market price.

Rate-of-return projections for plan assets are based on historical risk/return relationships among asset classes. The primary measure is the historical risk premium each asset class has delivered versus the yield on the Moody's AA Corporate Bond Index. This historical risk premium is then added to the current yield on the Moody's AA Corporate Bond Index. Additional analysis is performed to measure the expected range of returns, as well as worst-case and best-case scenarios. Based on the current low interest rate environment, current rate-of-return expectations are lower than the nominal returns generated over the past 30 years when interest rates were generally much higher.

Idaho Power’s asset modeling process also utilizes historical market returns to measure the portfolio’s exposure to a “worst-case” market scenario, to determine how much performance could vary from the expected “average” performance over various time periods. This “worst-case” modeling, in addition to cash flow matching and diversification by asset class and investment style, provides the basis for managing the risk associated with investing portfolio assets.
Fair Value of Plan Assets: Idaho Power classifies its pension plan and postretirement benefit plan investments using the three-level fair value hierarchy described in Note 17 - "Fair Value Measurements." The following table presents the fair value of the plans' investments by asset category (in thousands of dollars).
 Level 1Level 2Level 3Total
Assets at December 31, 2021    
Cash and cash equivalents$24,636 $— $— $24,636 
Intermediate bonds39,133 187,048 — 226,181 
Equity Securities: Large-Cap104,318 — — 104,318 
Equity Securities: Mid-Cap113,621 — — 113,621 
Equity Securities: Small-Cap85,244 — — 85,244 
Equity Securities: Micro-Cap42,915 — — 42,915 
Equity Securities: Global and International67,625 — — 67,625 
Equity Securities: Emerging Markets7,393 — — 7,393 
Plan assets measured at NAV (not subject to hierarchy disclosure)
Commingled Fund: Equity Securities: Global and International134,752 
Commingled Fund: Equity Securities: Emerging Markets47,332 
Real estate73,958 
Private market investments56,489 
Total$484,885 $187,048 $— $984,464 
Postretirement plan assets(1)
$2,391 $39,073 $— $41,464 
 Level 1Level 2Level 3Total
Assets at December 31, 2020
    
Cash and cash equivalents$25,008 $— $— $25,008 
Intermediate bonds34,455 163,000 — 197,455 
Equity Securities: Large-Cap79,259 — — 79,259 
Equity Securities: Mid-Cap104,089 — — 104,089 
Equity Securities: Small-Cap82,069 — — 82,069 
Equity Securities: Micro-Cap44,715 — — 44,715 
Equity Securities: Global and International69,687 — — 69,687 
Equity Securities: Emerging Markets10,574 — — 10,574 
Plan assets measured at NAV (not subject to hierarchy disclosure)
Commingled Fund: Equity Securities: Global and International116,223 
Commingled Fund: Equity Securities: Emerging Markets50,019 
Real estate54,630 
Private market investments37,875 
Total$449,856 $163,000 $— $871,603 
Postretirement plan assets(1)
$1,333 $39,978 $— $41,311 
(1) The postretirement benefits assets are primarily life insurance contracts.

For the years ended December 31, 2021 and 2020, there were no material transfers into or out of Levels 1, 2, or 3.

Fair Value Measurement of Level 2 Plan assets and Plan assets measured at NAV:

Level 2 Bonds: These investments represent United States government, agency bonds, and corporate bonds. The United States government and agency bonds, as well as the corporate bonds, are not traded on an exchange and are valued utilizing market prices for similar assets or liabilities in active markets.

Level 2 Postretirement Asset: This asset represents an investment in a life insurance contract and is recorded at fair value, which is the cash surrender value, less any unpaid expenses. The cash surrender value of this insurance contract is contractually
equal to the insurance contract's proportionate share of the market value of an associated investment account held by the insurer. The investments held by the insurer's investment account are all instruments traded on exchanges with readily determinable market prices.

Commingled Funds: These funds, made up of global, international and emerging markets equity securities are measured at NAV, are not publicly traded, and therefore no publicly quoted market price is readily available. The values of the commingled funds are presented at estimated fair value, which is determined based on the unit value of the fund. The values of these investments are calculated by the custodian for the fund company on a monthly or more frequent basis, and are based on market prices of the assets held by each of the commingled funds divided by the number of fund shares outstanding for the respective fund. The investments in commingled funds have redemption limitations that permit monthly redemption following notice requirements of 5 to 7 days.

Real Estate: Real estate holdings represent investments in open-end and closed-end commingled real estate funds. As the property interests held in these real estate funds are not frequently traded, establishing the market value of the property interests held by the fund, and the resulting unit value of fund shareholders, is based on unobservable inputs including property appraisals by the fund companies, property appraisals by independent appraisal firms, analysis of the replacement cost of the property, discounted cash flows generated by property rents and changes in property values, and comparisons with sale prices of similar properties in similar markets. These real estate funds also furnish annual audited financial statements that are also used to further validate the information provided. Redemptions on the open-end funds are generally available on a quarterly basis, with 10 to 35 days written notice, depending on the individual fund. If the fund has sufficient liquidity, the redemption will be processed at the fund NAV or the fund’s estimate of fair value at the end of the quarter. If the fund does not have sufficient liquidity to honor the full redemption, the remainder will be set for redemption the following quarter on a pro-rata basis with other redemption requests. This same process will repeat until the redemption request has been completed. To protect other fund holders, real estate funds have no duty to liquidate or encumber funds to meet redemption requests. The closed-end funds are formed for a stated life of 7 to 9 years. The fund can be further extended with the approval of the limited partners. There are generally no redemption rights associated with these funds. The limited partner must hold the fund for the life of the fund or find a third-party buyer.

Private Market Investments: Private market investments represent two categories: fund of hedge funds and venture capital funds. These funds are valued by the fund companies based on the estimated fair values of the underlying fund holdings divided by the fund shares outstanding or multiplied by the ownership percentages of the holder. Some hedge fund strategies utilize securities with readily available market prices, while others utilize less liquid investment vehicles that are valued based on unobservable inputs including cost, operating results, recent funding activity, or comparisons with similar investment vehicles. Redemptions are available on a quarterly basis with 70 days written notice. Redemptions will be processed at the quarterly NAV or fair value within 60 days following quarter end. In the event of a full redemption, a reserve amount of 5% to 10% of the redemption amount may be held in reserve until the audited financial statements of the fund are published. This allows the fund to adjust the redemption so that other fund holders are not adversely impacted. Venture capital fund investments are valued by the fund companies based on estimated fair value of the underlying fund holdings divided by the fund shares outstanding. Some venture capital investments have progressed to the point that they have readily available exchange-based market valuations. Early stage venture investments are valued based on unobservable inputs including cost, operating results, discounted cash flows, the price of recent funding events, or pending offers from other viable entities. These private market investments furnish annual audited financial statements that are also used to further validate the information provided. These funds are formed for a stated life of 10 to 15 years. The general partner can extend the fund life for 2 or 3 one-year periods. The fund can be further extended with the approval of the limited partners. There are generally no redemption rights associated with these funds. The limited partner must hold the fund for the life of the fund or find a third-party buyer.

Employee Savings Plan

Idaho Power has a defined contribution plan designed to comply with Section 401(k) of the Internal Revenue Code and that covers substantially all employees. Idaho Power matches specified percentages of employee contributions to the plan. Matching annual contributions were approximately $8.2 million, $7.9 million, and $7.7 million in 2021, 2020, and 2019, respectively.
 
Post-employment Benefits

Idaho Power provides certain benefits to former or inactive employees, their beneficiaries, and covered dependents after employment but before retirement, in addition to the health care benefits required under the Consolidated Omnibus Budget Reconciliation Act. These benefits include salary continuation, health care and life insurance for those employees found to be disabled under Idaho Power’s disability plans, and health care for surviving spouses and dependents. Idaho Power accrues a
liability for such benefits. The post-employment benefits included in other deferred credits on both IDACORP’s and Idaho Power’s consolidated balance sheets at December 31, 2021 and 2020, were approximately $2 million.
v3.22.0.1
PROPERTY, PLANT AND EQUIPMENT AND JOINTLY-OWNED PROJECTS:
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure PROPERTY, PLANT AND EQUIPMENT AND JOINTLY-OWNED PROJECTS
 
The following table presents the major classifications of Idaho Power’s utility plant in service, annual depreciation provisions as a percent of average depreciable balance, and accumulated provision for depreciation for the years ended December 31, 2021 and 2020 (in thousands of dollars):
 20212020
 BalanceAvg RateBalanceAvg Rate
Production$2,597,285 3.15 %$2,529,708 3.23 %
Transmission1,309,143 1.89 %1,272,360 1.88 %
Distribution2,058,819 2.25 %1,968,752 2.26 %
General and Other544,069 6.17 %512,970 6.17 %
Total in service6,509,316 2.85 %6,283,790 2.88 %
Accumulated provision for depreciation(2,298,951) (2,193,831) 
In service - net$4,210,365  $4,089,959  
 
At December 31, 2021, Idaho Power's construction work in progress balance of $670.6 million included relicensing costs of $389.3 million for the HCC, Idaho Power's largest hydropower complex. In 2021, 2020, and 2019, Idaho Power had IPUC authorization to include in its Idaho jurisdiction rates $6.5 million annually ($8.8 million when grossed-up for the effect of income taxes) of AFUDC relating to the HCC relicensing project. Collecting these amounts will reduce the amount collected in the future once the HCC relicensing costs are approved for recovery in base rates. At December 31, 2021, Idaho Power's regulatory liability for collection of AFUDC relating to the HCC was $187.7 million.

Idaho Power's ownership interest in two jointly-owned generating facilities is included in the table above. Under the joint operating agreements for these facilities, each participating utility is responsible for financing its share of construction, operating, and leasing costs. Idaho Power's proportionate share of operating expenses for each facility is included in the Consolidated Statements of Income. These jointly-owned facilities, including balance sheet amounts and the extent of Idaho Power’s participation, were as follows at December 31, 2021 (in thousands of dollars): 
Name of PlantLocationUtility Plant in ServiceConstruction
Work in Progress		Accumulated
Provision for Depreciation		Ownership %
MW(1)(2)
Jim Bridger units 1-4Rock Springs, WY$771,034 $7,775 $401,696 33775
North Valmy unit 2(2)
Winnemucca, NV255,451 881 195,258 50145
(1) Idaho Power’s share of nameplate capacity.
(2) Pursuant to an agreement with NV Energy, Idaho Power's participation in coal-fired operations of North Valmy ended in December 2019 at unit 1 and is planned to end no later than the end of 2025 at unit 2.
 
In October 2020, Idaho Power and co-owner Portland General Electric ceased coal-fired operations at their Boardman power plant, as planned. All depreciable property, plant and equipment associated with Idaho Power's ownership in the Boardman power plant was fully depreciated as of December 31, 2020.

IERCo, Idaho Power’s wholly-owned subsidiary, is a joint venturer in BCC. Idaho Power’s coal purchases from the joint venture were $59.7 million in 2021, $68.3 million in 2020, and $73.6 million in 2019.
 
Idaho Power has contracts to purchase the energy from four PURPA qualifying facilities that are 50 percent owned by Ida-West. Idaho Power’s power purchases from these facilities were $8.2 million in 2021, $9.3 million in 2020, and $8.6 million in 2019.
 
IDACORP's consolidated VIE, Marysville, owns a hydropower plant with a net book value of $13.7 million and $14.2 million at December 31, 2021 and 2020, respectively.
v3.22.0.1
ASSET RETIREMENT OBLIGATIONS
 12 Months Ended
Dec. 31, 2021
Asset Retirement Obligation [Abstract]  
Asset Retirement Obligation Disclosure ASSET RETIREMENT OBLIGATIONS (ARO)
 
The guidance relating to accounting for AROs requires that legal obligations associated with the retirement of property, plant, and equipment be recognized as a liability at fair value when incurred and when a reasonable estimate of the fair value of the liability can be made. Under the guidance, when a liability is initially recorded, the entity increases the carrying amount of the related long-lived asset to reflect the future retirement cost. Over time, the liability is accreted to its estimated settlement value and paid, and the capitalized cost is depreciated over the useful life of the related asset. If, at the end of the asset’s life, the recorded liability differs from the actual obligations paid, a gain or loss would be recognized. As a rate-regulated entity, Idaho Power records regulatory assets or liabilities instead of accretion, depreciation, and gains or losses, as approved by the IPUC. The regulatory assets recorded under this order do not earn a return on investment. Accretion, depreciation, and gains or losses related to the Boardman generating facility have been exempted from such regulatory treatment as Idaho Power collected amounts related to the decommissioning of Boardman in rates. In October 2020, Idaho Power and co-owner Portland General Electric ceased coal-fired operations at their Boardman power plant. As of December 31, 2021 and 2020, Idaho Power has recorded a liability for estimated costs of decommissioning and retirement of Boardman plant assets, which is included in the amounts in the table below.
 
Idaho Power’s recorded AROs relate to the reclamation and removal costs at its jointly-owned coal-fired generation facilities. In 2021, changes in estimates at the coal-fired generation facilities resulted in a net increase of $9.4 million in the recorded AROs. The increase is primarily related to revised cost estimates for the closure of a flue gas desulfurization pond at the Jim Bridger plant.

Idaho Power also has additional AROs associated with its transmission system and generation facilities; however, due to the indeterminate removal date, the fair value of the associated liabilities currently cannot be estimated and no amounts are recognized in the consolidated financial statements.
 
Idaho Power also collects removal costs in rates for certain assets that do not have associated AROs. Idaho Power is required to classify these removal costs as regulatory liabilities, see Note 3 - "Regulatory Matters" for the removal costs recorded as regulatory liabilities on IDACORP’s and Idaho Power’s consolidated balance sheets as of December 31, 2021 and 2020.
 
The following table presents the changes in the carrying amount of AROs (in thousands of dollars): 
 20212020
Balance at beginning of year$27,691 $28,191 
Accretion expense1,021 1,053 
Revisions in estimated cash flows9,415 193 
Liability settled(1,429)(1,746)
Balance at end of year$36,698 $27,691 
v3.22.0.1
INVESTMENTS:
 12 Months Ended
Dec. 31, 2021
Investments [Abstract]  
Investments in Debt and Equity Securities INVESTMENTS
 
The table below summarizes IDACORP’s and Idaho Power’s investments as of December 31 (in thousands of dollars): 
 20212020
Idaho Power investments:  
Bridger Coal Company (equity method investment)$22,677 $37,115 
Exchange traded short-term bond funds and cash equivalents54,078 50,531 
Executive deferred compensation plan investments353 202 
Total Idaho Power investments77,108 87,848 
IFS investments in real estate tax credit projects, such as affordable housing developments34,967 28,438 
Ida-West joint ventures (equity method investments)10,386 10,662 
Other investments1,363 — 
Total IDACORP investments$123,824 $126,948 
 
Equity Method Investments

Idaho Power, through its subsidiary IERCo, is a 33 percent owner of BCC. Ida-West, through separate subsidiaries, owns 50 percent of three electric generation projects that are accounted for using the equity method: South Forks Joint Venture, Hazelton/Wilson Joint Venture, and Snow Mountain Hydro LLC. All projects are reviewed periodically for impairment. The table below presents IDACORP’s and Idaho Power’s earnings of unconsolidated equity-method investments (in thousands of dollars):
 202120202019
Bridger Coal Company (Idaho Power)$10,211 $10,102 $10,285 
Ida-West joint ventures1,224 1,411 2,085 
Total$11,435 $11,513 $12,370 
 
Investments in Equity Securities

Investments in equity securities are reported at fair value. Any unrealized gains or losses on equity securities are included in income. Unrealized gains and losses on equity securities were immaterial at December 31, 2021 and December 31, 2020. The following table summarizes sales of equity securities (in thousands of dollars):
 202120202019
Proceeds from sales$11,328 $25,795 $5,080 
Gross realized gains from sales— — — 

IDACORP Financial Services Investments

IFS invests primarily in real estate tax credit projects, such as affordable housing developments, which provide a return principally by reducing federal and state income taxes through tax credits and accelerated tax depreciation benefits. IFS has focused on a diversified approach to its investment strategy in order to limit both geographic and operational risk, with most of IFS’s investments having been made through syndicated funds. IDACORP accounts for its equity-method investments in qualified real estate projects using the proportional amortization method and recognizes the net investment performance in the consolidated statements of income as a component of income tax expense.
v3.22.0.1
DERIVATIVE FINANCIAL INSTRUMENTS:
 12 Months Ended
Dec. 31, 2021
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 below.
The table below presents the gains and losses on derivatives not designated as hedging instruments for the years ended December 31, 2021, 2020, and 2019 (in thousands of dollars):
Location of Realized Gain/(Loss) on Derivatives Recognized in Income
Gain/(Loss) on Derivatives Recognized in Income(1)
202120202019
Financial swapsOperating revenues$1,046 $2,173 $904 
Financial swapsPurchased power1,959 (3,531)(2,183)
Financial swapsFuel expense12,180 (4,791)13,811 
Forward contractsOperating revenues1,966 421 285 
Forward contractsPurchased power(1,099)(384)(270)
Forward contractsFuel expense(194)(36)565 
(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 17 - "Fair Value Measurements" for additional information concerning the determination of fair value for Idaho Power’s assets and liabilities from price risk management activities.

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 December 31, 2021 and 2020 (in thousands of dollars):
Asset DerivativesLiability Derivatives
 Balance Sheet LocationGross Fair ValueAmounts OffsetNet AssetsGross Fair ValueAmounts OffsetNet Liabilities
December 31, 2021
Current:   
Financial swapsOther current assets$10,599 $(4,893)(1)$5,706 $2,910 $(2,910)$— 
Financial swapsOther current liabilities— — — 20 — 20 
Forward contractsOther current assets6 (4)2 4 (4)— 
Forward contractsOther current liabilities— — — 1,970 — 1,970 
Long-term:  
Financial swapsOther assets899 (9)890 9 (9)— 
Financial swapsOther liabilities— — — 14 — 14 
Forward contractsOther liabilities— — — 3,743 — 3,743 
Total $11,504 $(4,906)$6,598 $8,670 $(2,923)$5,747 
December 31, 2020
Current:   
Financial swapsOther current assets$2,028 $(36)$1,992 $36 $(36)$— 
Financial swapsOther current liabilities187 (187)— 786 (652)(2)134 
Forward contractsOther current assets5 (2)3 2 (2)— 
Forward contractsOther current liabilities3 (3)— 13 (3)10 
Long-term:   
Financial swapsOther liabilities40 (40)— 56 (56)(2)— 
Total $2,263 $(268)$1,995 $893 $(749)$144 
(1) Current asset derivative amounts offset include $2.0 million of collateral payable at December 31, 2021.
(2) Current and long-term liability derivative amounts offset include $0.5 million and $16 thousand of collateral receivable at December 31, 2020, respectively.
The table below presents the volumes of derivative commodity forward contracts and swaps outstanding at December 31, 2021 and 2020 (in thousands of units):
December 31,
CommodityUnits20212020
Electricity purchasesMWh529 74 
Electricity salesMWh129 — 
Natural gas purchasesMMBtu11,740 7,923 
Natural gas salesMMBtu— 775 
 
Credit Risk
 
At December 31, 2021, 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 Investors Service 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 December 31, 2021, was $3.0 million. Idaho Power did not post any cash collateral related to this amount. If the credit-risk-related contingent features underlying these agreements were triggered on December 31, 2021, Idaho Power would have been required to pay or post collateral to its counterparties up to an additional $7.6 million to cover open liability positions as well as completed transactions that have not yet been paid.
v3.22.0.1
FAIR VALUE MEASUREMENTS:
 12 Months Ended
Dec. 31, 2021
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 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.
 
•      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 years ended December 31, 2021 and 2020.

Certain instruments have been valued using net asset value (NAV) as a practical expedient. These instruments are similar to mutual funds; however, their 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 the 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 December 31, 2021 and 2020 (in thousands of dollars): 
December 31, 2021December 31, 2020
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:    
Money market funds and commercial paper
IDACORP(1)
$80,406 $— $— $80,406 $56,048 $— $— $56,048 
Idaho Power10,393 — — 10,393 40,038 — — 40,038 
Derivatives6,596 2 — 6,598 1,995 — — 1,995 
Equity securities54,431 — — 54,431 50,733 — — 50,733 
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)
— — — 1,363 — — — — 
Liabilities:
Derivatives$34 $5,713 $— $5,747 $134 $10 $— $144 
(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 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 and Intercontinental Exchange 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 December 31, 2021 and 2020, using available market information and appropriate valuation methodologies (in thousands).
 December 31, 2021December 31, 2020
 Carrying AmountEstimated Fair ValueCarrying AmountEstimated Fair Value
 (thousands of dollars)
IDACORP    
Assets:    
Notes receivable(1)
$3,804 $3,804 $3,804 $3,804 
Liabilities:    
Long-term debt (including current portion)(1)
2,000,640 2,381,172 2,000,414 2,466,967 
Idaho Power    
Liabilities:    
Long-term debt (including current portion)(1)
$2,000,640 $2,381,172 $2,000,414 $2,466,967 
(1) Notes receivable and long-term debt are categorized as Level 3 and Level 2, respectively, of the fair value hierarchy, as defined earlier in this Note 17 - "Fair Value Measurements."

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. 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.
v3.22.0.1
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2021
Segment Reporting [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 developments 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
2021    
Revenues$1,455,410 $2,674 $— $1,458,084 
Operating income329,568 83 — 329,651 
Other income, net21,243 (138)— 21,105 
Interest income7,123 216 (47)7,292 
Equity-method income10,211 1,224 — 11,435 
Interest expense86,663 82 (47)86,698 
Income before income taxes281,482 1,302 — 282,784 
Income tax expense (benefit)38,257 (1,345)— 36,912 
Income attributable to IDACORP, Inc.243,225 2,325 — 245,550 
Total assets6,990,839 281,999 (62,323)7,210,515 
Expenditures for long-lived assets299,972 27 — 299,999 
Utility
Operations		All
Other		EliminationsConsolidated
Total
2020    
Revenues$1,347,340 $3,389 $— $1,350,729 
Operating income308,780 741 — 309,521 
Other income, net22,555 (8)— 22,547 
Interest income9,733 1,275 (496)10,512 
Equity-method income10,102 1,411 — 11,513 
Interest expense87,389 533 (496)87,426 
Income before income taxes263,783 2,885 — 266,668 
Income tax expense (benefit)30,548 (1,848)— 28,700 
Income attributable to IDACORP, Inc.233,235 4,182 — 237,417 
Total assets6,906,110 253,060 (63,926)7,095,244 
Expenditures for long-lived assets310,937 1 — 310,938 
2019    
Revenues$1,342,940 $3,443 $— $1,346,383 
Operating income297,652 674 — 298,326 
Other income, net20,362 1 — 20,363 
Interest income10,968 3,052 (769)13,251 
Equity-method income10,285 2,085 — 12,370 
Interest expense86,412 832 (769)86,475 
Income before income taxes252,854 4,981 — 257,835 
Income tax expense (benefit)28,417 (3,910)— 24,507 
Income attributable to IDACORP, Inc.224,437 8,417 — 232,854 
Total assets6,494,159 220,620 (73,578)6,641,201 
Expenditures for long-lived assets278,707 (2)— 278,705 
v3.22.0.1
OTHER INCOME AND EXPENSE
 12 Months Ended
Dec. 31, 2021
OTHER INCOME AND EXPENSE [Abstract]  
Other Income and Other Expense Disclosure OTHER INCOME AND EXPENSE
 
The following table presents the components of IDACORP’s other income (expense), net and Idaho Power's other income (expense), net (in thousands of dollars):
IDACORP202120202019
Interest and dividend income, net$1,408 $3,813 $8,181 
Carrying charges on regulatory assets5,034 7,063 5,494 
Pension and postretirement non-service costs(1)
(15,249)(11,865)(10,976)
Income from life insurance investments5,203 4,036 4,104 
Other income (expense)463 462 (301)
Total other income (expense), net$(3,141)$3,509 $6,502 
Idaho Power
Interest and dividend income, net$1,241 $3,034 $5,898 
Carrying charges on regulatory assets5,034 7,063 5,494 
Pension and postretirement non-service costs(1)
(15,240)(11,862)(10,976)
Income from life insurance investments5,203 4,036 4,104 
Other income (expense) 591 468 (303)
Total other income (expense), net$(3,171)$2,739 $4,217 
(1) The 2021 pension and postretirement non-service costs includes $4.7 million of expense for a temporary deviation from the cost-sharing provisions of the substantive postretirement plan as described in Note 12 - "Benefit Plans."
v3.22.0.1
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Notes)
 12 Months Ended
Dec. 31, 2021
Statement of Comprehensive Income [Abstract]  
Changes in Accumulated Other Comprehensive Income [Text Block] CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME
Comprehensive income includes net income and amounts related to the SMSP. The table below presents changes in components of accumulated other comprehensive income (AOCI), net of tax, during the years ended December 31, 2021, 2020, and 2019 (in thousands of dollars). Items in parentheses indicate reductions to AOCI.
Year Ended December 31,
202120202019
Defined benefit pension items
Balance at beginning of period$(43,358)$(36,284)$(22,844)
Other comprehensive income before reclassifications, net of tax of $(8), $(3,488), and $(5,335)
(25)(10,062)(15,392)
Amounts reclassified out of AOCI to net income, net of tax of $1,158, $1,036, and $677
3,343 2,988 1,952 
Net current-period other comprehensive income3,318 (7,074)(13,440)
Balance at end of period$(40,040)$(43,358)$(36,284)

The table below presents the effects on net income of amounts reclassified out of components of AOCI and the income statement location of those amounts reclassified during the years ended December 31, 2021, 2020, and 2019 (in thousands of dollars). Items in parentheses indicate increases to net income.
Amount Reclassified from AOCI
Year Ended December 31,
202120202019
Amortization of defined benefit pension items(1)
Prior service cost$296 $290 $96 
Net loss4,205 3,734 2,533 
Total before tax4,501 4,024 2,629 
Tax benefit(2)
(1,158)(1,036)(677)
Net of tax3,343 2,988 1,952 
Total reclassification for the period$3,343 $2,988 $1,952 
(1) Amortization of these items is included in "Other (income) expense, net" in the consolidated income statements of both IDACORP and Idaho Power.
(2) The tax benefit is included in "Income tax expense" in the consolidated income statements of both IDACORP and Idaho Power.
v3.22.0.1
RELATED PARTY TRANSACTIONS:
 12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Related Party Transactions RELATED PARTY TRANSACTIONS
 
IDACORP: Idaho Power performs corporate functions such as financial, legal, and management services for IDACORP and its subsidiaries. Idaho Power charges IDACORP for the costs of these services based on service agreements and other specifically identified costs. For these services, Idaho Power billed IDACORP $0.8 million in 2021, $0.7 million in 2020, and $0.8 million in 2019.

At December 31, 2021 and 2020, Idaho Power had a $2.0 million and $1.5 million payable to IDACORP, respectively, which was included in its accounts payable to affiliates balance on its consolidated balance sheets.
 
Ida-West: Idaho Power purchases all of the power generated by four of Ida-West’s hydropower projects located in Idaho. Idaho Power purchased $8.2 million in 2021, $9.3 million in 2020, and $8.6 million in 2019 of power from Ida-West.
v3.22.0.1
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
 Year Ended December 31,
 202120202019
 (thousands of dollars)
Income:  
Equity in income of subsidiaries$245,591 $237,233 $231,534 
Investment income148 748 2,214 
Total income245,739 237,981 233,748 
Expenses:   
Operating expenses679 692 816 
Interest expense82 534 831 
Other expenses192 145 30 
Total expenses953 1,371 1,677 
Income Before Income Taxes244,786 236,610 232,071 
Income Tax Benefit(764)(807)(783)
Net Income Attributable to IDACORP, Inc.245,550 237,417 232,854 
Other comprehensive (loss) income3,318 (7,074)(13,440)
Comprehensive Income Attributable to IDACORP, Inc.$248,868 $230,343 $219,414 
The accompanying note is an integral part of these statements.
IDACORP, INC.
CONDENSED STATEMENTS OF CASH FLOWS
 Year Ended December 31,
 202120202019
 (thousands of dollars)
Operating Activities:   
Net cash provided by operating activities$174,209 $168,699 $112,745 
Investing Activities:   
Purchase of short-term investments(26,363)(25,000)— 
Maturities of short-term investments50,000 — — 
Net cash provided by (used in) investing activities23,637 (25,000)— 
Financing Activities:   
Dividends on common stock(146,119)(137,856)(129,682)
Change in intercompany notes payable(2,167)(9,732)37,588 
Other(3,124)(4,663)(4,410)
Net cash used in financing activities(151,410)(152,251)(96,504)
Net increase (decrease) in cash and cash equivalents46,436 (8,552)16,241 
Cash and cash equivalents at beginning of year106,589 115,141 98,900 
Cash and cash equivalents at end of year$153,025 $106,589 $115,141 
The accompanying note is an integral part of these statements.
IDACORP, INC.
CONDENSED BALANCE SHEETS
 December 31,
 20212020
Assets(thousands of dollars)
Current Assets:  
Cash and cash equivalents$153,025 $106,589 
Short-term investments— 25,000 
Receivables2,050 1,604 
Other102 107 
Total current assets155,177 133,300 
Investments2,570,150 2,468,955 
Other Assets: 
Deferred income taxes5,004 23,859 
Other299 312 
Total other assets5,303 24,171 
Total assets$2,730,630 $2,626,426 
Liabilities and Shareholders’ Equity 
Current Liabilities: 
Taxes accrued$850 $2,745 
Other777 928 
Total current liabilities1,627 3,673 
Other Liabilities: 
Intercompany notes payable59,928 62,049 
Other639 724 
Total other liabilities60,567 62,773 
IDACORP, Inc. Shareholders’ Equity2,668,436 2,559,980 
Total Liabilities and Shareholders' Equity$2,730,630 $2,626,426 
The accompanying note is an integral part of these statements.
BASIS OF PRESENTATION
 
Pursuant to rules and regulations of the U.S. Securities and Exchange Commission, the unconsolidated condensed financial statements of IDACORP, Inc. do not reflect all of the information and notes normally included with financial statements prepared in accordance with accounting principles generally accepted in the United States of America. Therefore, these financial statements should be read in conjunction with the consolidated financial statements and related notes included in the 2021 Form 10-K, Part II, Item 8.

Accounting for Subsidiaries: IDACORP has accounted for the earnings of its subsidiaries under the equity method of accounting in these unconsolidated condensed financial statements. Included in net cash provided by operating activities in the condensed statements of cash flows are dividends that IDACORP subsidiaries paid to IDACORP of $149 million, $141 million, and $133 million in 2021, 2020, and 2019, respectively.
v3.22.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Organization, Consolidation, Presentation, and Significant Accounting Policies Level 2 (Policies)
 12 Months Ended
Dec. 31, 2021
Significant Accounting Policies  
Nature of Business
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, sales, 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 (FERC). 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 generating 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).
Principles of Consolidation
Principles of Consolidation
 
IDACORP’s and Idaho Power’s consolidated financial statements include the assets, liabilities, revenues, and expenses of each company and its wholly-owned subsidiaries listed above, as well as any variable interest entity (VIE) for which the respective company is the primary beneficiary. Investments in VIEs for which the companies are not the primary beneficiaries, but have the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method of accounting. 

IDACORP also consolidates one VIE, Marysville Hydro Partners (Marysville), which is a joint venture owned 50 percent by Ida-West and 50 percent by Environmental Energy Company (EEC). At December 31, 2021, Marysville had approximately $16.0 million of assets, primarily a hydropower plant, and approximately $2.3 million of intercompany long-term debt, which is eliminated in consolidation. EEC has borrowed amounts from Ida-West to fund a portion of its required capital contributions to Marysville. The loans are payable from EEC’s share of distributions from Marysville and are secured by the stock of EEC and EEC’s interest in Marysville. Ida-West is identified as the primary beneficiary because the combination of its ownership interest in the joint venture with the intercompany note and the EEC note result in Ida-West's ability to control the activities of the joint venture. Creditors of Marysville have no recourse to the general credit of IDACORP and there are no other arrangements that could require IDACORP to provide financial support to Marysville or expose IDACORP to losses.
 
The BCC joint venture is also a VIE, but because the power to direct the activities that most significantly impact the economic performance of BCC is shared with the joint venture partner, Idaho Power is not the primary beneficiary. The carrying value of Idaho Power's investment in BCC was $22.7 million at December 31, 2021, and Idaho Power's maximum exposure to loss is the carrying value, any additional future contributions to BCC, and a $51.6 million guarantee for mine reclamation costs, which is discussed further in Note 10 - "Commitments."
 
IFS's affordable housing limited partnership and other real estate tax credit investments are also VIEs for which IDACORP is not the primary beneficiary. IFS's limited partnership interests range from 2 to 100 percent and were acquired between 1996 and 2021. As a limited partner, IFS does not control these entities and they are not consolidated. IFS’s maximum exposure to loss in these developments is limited to its net carrying value, which was $35.0 million at December 31, 2021.

Ida-West's other investments in PURPA facilities, Idaho Power's investment in BCC, and IFS's investments are accounted for under the equity method of accounting (see Note 15 - "Investments").

Except for amounts related to sales of electricity by Ida-West's PURPA projects to Idaho Power, all intercompany transactions and balances have been eliminated in consolidation. 
The accompanying consolidated financial statements include Idaho Power's proportionate share of utility plant and related operations resulting from its interests in jointly-owned plants (see Note 13 - "Property, Plant and Equipment and Jointly-Owned Projects").
Regulation of Utility Operations
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.

Idaho Power meets the requirements under accounting principles generally accepted in the United States of America (GAAP) to prepare its financial statements applying the specialized rules to account for the effects of cost-based rate regulation. IDACORP’s and Idaho Power’s financial statements reflect the effects of the different ratemaking principles followed by the jurisdictions regulating Idaho Power. Accounting for the economics of rate regulation impacts multiple financial statement line items and disclosures, such as property, plant, and equipment; regulatory assets and liabilities; operating revenues; operation and maintenance expense; depreciation expense; and income tax expense. 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."
Management Estimates
Management Estimates
 
Management makes estimates and assumptions when preparing financial statements in conformity with GAAP. These estimates and assumptions include 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.
System of Accounts
System of Accounts

The accounting records of Idaho Power conform to the Uniform System of Accounts prescribed by the FERC and adopted by the public utility commissions of Idaho, Oregon, and Wyoming.
Cash and Cash Equivalents
Cash and Cash Equivalents

Cash and cash equivalents include cash on-hand and highly liquid temporary investments that mature within 90 days of the date of acquisition.
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy
Receivables and Allowance for Uncollectible Accounts

Customer receivables are recorded at the invoiced amounts and do not bear interest. A late payment fee of one percent per month may be assessed on account balances after 30 days. An allowance is recorded for potential uncollectible accounts. The measurement of expected credit losses on Idaho Power accounts receivable is based on historical experience, current economic conditions, and forecasted information that may affect collections on the outstanding balance. Generally, this includes adjustments based upon a combination of historical write-off experience, aging of accounts receivable, an analysis of specific customer accounts, and an evaluation of whether there are current or forecasted economic conditions that might cause variation in collection from the historical experience. Adjustments are charged to income. Customer accounts receivable balances that remain outstanding after reasonable collection efforts are written off.

In response to the COVID-19 public health crisis, Idaho Power provided certain relief to customers, including temporarily suspending disconnections for customers and temporarily waiving late fees. This relief as well as the economic conditions
created by the response to the COVID-19 public health crisis have resulted in higher aged accounts receivable and an increase in the number of late payments. Compared with historical levels, Idaho Power expects higher uncollectible account write-offs as a result of the COVID-19 public health crisis and, accordingly, has maintained its higher allowance for uncollectible accounts related to customer receivables at December 31, 2021.

The following table provides a rollforward of the allowance for uncollectible accounts related to customer receivables (in thousands of dollars):
Year Ended
December 31,
 20212020
Balance at beginning of period$4,766 $1,401 
Additions to the allowance2,017 5,222 
Write-offs, net of recoveries(2,284)(1,857)
Balance at end of period$4,499 $4,766 
Allowance for uncollectible accounts as a percentage of customer receivables5.4 %6.1 %

Other receivables, primarily notes receivable from business transactions, are also reviewed for impairment periodically, based upon transaction-specific facts. When it is probable that IDACORP or Idaho Power will be unable to collect all amounts due according to the contractual terms of the agreement, an allowance is established for the estimated uncollectible portion of the receivable and charged to income.

There were no impaired receivables without related allowances at December 31, 2021 and 2020. Once a receivable is determined to be impaired, any further interest income recognized is fully reserved.
Derivative Financial Instruments
Derivative Financial Instruments

Financial instruments such as commodity futures, forwards, options, and swaps are used to manage exposure to commodity price risk in the electricity and natural gas markets. All derivative instruments are recognized as either assets or liabilities at fair value on the balance sheet unless they are designated as normal purchases and normal sales. With the exception of forward contracts for the purchase of natural gas for use at Idaho Power's natural gas generation facilities and a nominal number of power transactions, Idaho Power’s physical forward contracts are designated as normal purchases and normal sales. Because of Idaho Power’s regulatory accounting mechanisms, Idaho Power records the unrealized changes in fair value of derivative instruments related to power supply as regulatory assets or liabilities.
Revenues RevenuesOperating revenues are generally recorded when service is rendered or energy is delivered to customers. Idaho Power accrues estimated unbilled revenues for electric services delivered to customers but not yet billed at year-end. Idaho Power does not report any collections of franchise fees and similar taxes related to energy consumption on the income statement. In addition, regulatory mechanisms in place in Idaho and Oregon affect the reported amount of revenue.
Property, Plant and Equipment and Depreciation
Property, Plant and Equipment and Depreciation

The cost of utility plant in service represents the original cost of contracted services, direct labor and material, allowance for funds used during construction (AFUDC), and indirect charges for engineering, supervision, and similar overhead items. Repair and maintenance costs associated with planned major maintenance are expensed as the costs are incurred, as are maintenance and repairs of property and replacements and renewals of items determined to be less than units of property. For utility property replaced or renewed, the original cost plus removal cost less salvage is charged to accumulated provision for depreciation, while the cost of related replacements and renewals is added to property, plant and equipment.
 
All utility plant in service is depreciated using the straight-line method at rates approved by regulatory authorities. Annual depreciation provisions as a percent of average depreciable utility plant in service approximated 2.9 percent in 2021, 2020, and 2019.
During the period of construction, costs expected to be included in the final value of the constructed asset, and depreciated once the asset is complete and placed in service, are classified as construction work in progress on the consolidated balance sheets. If the project becomes probable of being abandoned, these costs are expensed in the period such determination is made. Idaho Power may seek recovery of these costs in customer rates, although there can be no guarantee such recovery would be granted.
 
Long-lived assets are periodically reviewed for impairment when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the undiscounted expected future cash flows from an asset is less than the carrying value of the asset, impairment is recognized in the financial statements. There were no material impairments of long-lived assets in 2021, 2020, or 2019.
Allowance for Funds Used During Construction
Allowance for Funds Used During Construction

AFUDC represents the cost of financing construction projects with borrowed funds and equity funds. With one exception, for the Hells Canyon Complex (HCC) relicensing project, cash is not realized currently from such allowance; it is realized under the ratemaking process over the service life of the related property through increased revenues resulting from a higher rate base and higher depreciation expense. The component of AFUDC attributable to borrowed funds is included as a reduction to total interest expense. Idaho Power’s weighted-average monthly AFUDC rate was 7.5 percent for 2021 and 2020, and 7.6 percent for 2019.
Income Taxes
Income Taxes

IDACORP and Idaho Power account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method (commonly referred to as normalized accounting), deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. In general, deferred income tax expense or benefit for a reporting period is recognized as the change in deferred tax assets and liabilities from the beginning to the end of the period. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date unless Idaho Power's primary regulator, the Idaho Public Utilities Commission (IPUC), orders direct deferral of the effect of the change in tax rates over a longer period of time.

Consistent with orders and directives of the IPUC, unless contrary to applicable income tax guidance, Idaho Power does not record deferred income tax expense or benefit for certain income tax temporary differences and instead recognizes the tax impact currently (commonly referred to as flow-through accounting) for rate making and financial reporting. Therefore, Idaho Power's effective income tax rate is impacted as these differences arise and reverse. Idaho Power recognizes such adjustments as regulatory assets or liabilities if it is probable that such amounts will be recovered from or returned to customers in future rates.

IDACORP and Idaho Power use judgment, estimation, and historical data in developing the provision for income taxes and the reporting of tax-related assets and liabilities, including development of current year tax depreciation, capitalized repair costs, capitalized overheads, and other items. Income taxes can be impacted by changes in tax laws and regulations, interpretations by taxing authorities, changes to accounting guidance, and actions by federal or state public utility regulators. Actual income taxes could vary from estimated amounts and may result in favorable or unfavorable impacts to net income, cash flows, and tax-related assets and liabilities.

In compliance with the federal income tax requirements for the use of accelerated tax depreciation, Idaho Power records deferred income taxes related to its plant assets for the difference between income tax depreciation and book depreciation used for financial statement purposes. Deferred income taxes are recorded for other temporary differences unless accounted for using flow-through.
 
Investment tax credits earned on regulated assets are deferred and amortized to income over the estimated service lives of the related properties.
 
Income taxes are discussed in more detail in Note 2 - "Income Taxes."
Other Accounting Policies
Other Accounting Policies

Debt discount, expense, and premium are deferred and amortized over the terms of the respective debt issuances. Losses on reacquired debt and associated costs are amortized over the life of the associated replacement debt, as allowed under regulatory accounting.
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 consolidated financial statements.
Uncertain Tax Positions
Uncertain Tax Positions

IDACORP and Idaho Power believe that they have no material income tax uncertainties for 2021 and prior tax years. Both companies recognize interest accrued related to unrecognized tax benefits as interest expense and penalties as other expense. 
 
IDACORP and Idaho Power are subject to examination by their major tax jurisdictions - United States federal and the State of Idaho. The open tax years for examination are 2020-2021 for federal and 2016-2021 for Idaho. The Idaho State Tax Commission began its examination of the 2016-2018 tax years in March of 2020. In May 2009, IDACORP formally entered the U.S. Internal Revenue Service (IRS) Compliance Assurance Process (CAP) program for its 2009 tax year and has remained in the CAP program for all subsequent years. The CAP program provides for IRS examination and issue resolution throughout the current year with the objective of return filings containing no contested items. The IRS moved IDACORP from the maintenance phase of CAP to the bridge phase for both the 2020 and 2021 tax years.
Share-based compensation, stock awards policy
Restricted Stock awards have three-year vesting periods and entitle the recipients to dividends or dividend equivalents, as applicable, and voting rights, except that holders of restricted stock units do not have voting rights until the units are vested and settled in shares. Unvested awards are restricted as to disposition and subject to forfeiture under certain circumstances. The fair value of these awards is based on the closing market price of common stock on the grant date and is charged to compensation expense over the vesting period, reduced for any forfeitures during the vesting period.
 
Performance-Based Shares awards have three-year vesting periods and entitle the recipients to voting rights, except that holders of performance-based units do not have voting rights until the units are vested and settled in shares. Unvested awards are restricted as to disposition, subject to forfeiture under certain circumstances, and subject to the attainment of specific performance conditions over the three-year vesting period. The performance conditions are two equally-weighted metrics, cumulative earnings per share (CEPS) and total shareholder return (TSR) relative to a peer group. Depending on the level of attainment of the performance conditions and the year issued, the final number of shares awarded can range from zero to 200 percent of the target award. Dividends or dividend equivalents, as applicable, are accrued during the vesting period and paid out based on the final number of shares awarded.
 
The grant-date fair value of the CEPS portion is based on the closing market value at the date of grant, reduced by the loss in time-value of the estimated future dividend payments. The fair value of this portion of the awards is charged to compensation expense over the requisite service period based on the estimated achievement of performance targets, reduced for any forfeitures during the vesting period. The grant-date fair value of the TSR portion is estimated using the market value at the date of grant and a statistical model that incorporates the probability of meeting performance targets based on historical returns relative to the peer group. The fair value of this portion of the awards is charged to compensation expense over the requisite service period, provided the requisite service period is rendered, regardless of the level of TSR metric attained.
Guarantees 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 December 31, 2021, management believes 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 consolidated balance sheets with respect to these indemnification obligations.
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.
Asset Retirement Obligations
The guidance relating to accounting for AROs requires that legal obligations associated with the retirement of property, plant, and equipment be recognized as a liability at fair value when incurred and when a reasonable estimate of the fair value of the liability can be made. Under the guidance, when a liability is initially recorded, the entity increases the carrying amount of the related long-lived asset to reflect the future retirement cost. Over time, the liability is accreted to its estimated settlement value and paid, and the capitalized cost is depreciated over the useful life of the related asset. If, at the end of the asset’s life, the recorded liability differs from the actual obligations paid, a gain or loss would be recognized. As a rate-regulated entity, Idaho Power records regulatory assets or liabilities instead of accretion, depreciation, and gains or losses, as approved by the IPUC. The regulatory assets recorded under this order do not earn a return on investment. Accretion, depreciation, and gains or losses related to the Boardman generating facility have been exempted from such regulatory treatment as Idaho Power collected amounts related to the decommissioning of Boardman in rates. In October 2020, Idaho Power and co-owner Portland General Electric ceased coal-fired operations at their Boardman power plant. As of December 31, 2021 and 2020, Idaho Power has recorded a liability for estimated costs of decommissioning and retirement of Boardman plant assets, which is included in the amounts in the table below.
 
Idaho Power’s recorded AROs relate to the reclamation and removal costs at its jointly-owned coal-fired generation facilities. In 2021, changes in estimates at the coal-fired generation facilities resulted in a net increase of $9.4 million in the recorded AROs. The increase is primarily related to revised cost estimates for the closure of a flue gas desulfurization pond at the Jim Bridger plant.

Idaho Power also has additional AROs associated with its transmission system and generation facilities; however, due to the indeterminate removal date, the fair value of the associated liabilities currently cannot be estimated and no amounts are recognized in the consolidated financial statements.
 
Idaho Power also collects removal costs in rates for certain assets that do not have associated AROs. Idaho Power is required to classify these removal costs as regulatory liabilities
Equity Method Investments Equity Method InvestmentsIdaho Power, through its subsidiary IERCo, is a 33 percent owner of BCC. Ida-West, through separate subsidiaries, owns 50 percent of three electric generation projects that are accounted for using the equity method: South Forks Joint Venture, Hazelton/Wilson Joint Venture, and Snow Mountain Hydro LLC. All projects are reviewed periodically for impairment.
Available-for-sale Securities Investments in Equity SecuritiesInvestments in equity securities are reported at fair value. Any unrealized gains or losses on equity securities are included in income.
Investments in Affordable Housing IFS invests primarily in real estate tax credit projects, such as affordable housing developments, which provide a return principally by reducing federal and state income taxes through tax credits and accelerated tax depreciation benefits. IFS has focused on a diversified approach to its investment strategy in order to limit both geographic and operational risk, with most of IFS’s investments having been made through syndicated funds. IDACORP accounts for its equity-method investments in qualified real estate projects using the proportional amortization method and recognizes the net investment performance in the consolidated statements of income as a component of income tax expense.
Derivatives not designated as hedges
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).
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.
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 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.
 
•      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 years ended December 31, 2021 and 2020.
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 developments and other real estate tax credit projects, Ida-West’s joint venture investments in small hydropower generation projects, and IDACORP’s holding company expenses.
Pension Plan  
Significant Accounting Policies  
Fair value of financial instruments
Fair Value Measurement of Level 2 Plan assets and Plan assets measured at NAV:

Level 2 Bonds: These investments represent United States government, agency bonds, and corporate bonds. The United States government and agency bonds, as well as the corporate bonds, are not traded on an exchange and are valued utilizing market prices for similar assets or liabilities in active markets.

Level 2 Postretirement Asset: This asset represents an investment in a life insurance contract and is recorded at fair value, which is the cash surrender value, less any unpaid expenses. The cash surrender value of this insurance contract is contractually
equal to the insurance contract's proportionate share of the market value of an associated investment account held by the insurer. The investments held by the insurer's investment account are all instruments traded on exchanges with readily determinable market prices.

Commingled Funds: These funds, made up of global, international and emerging markets equity securities are measured at NAV, are not publicly traded, and therefore no publicly quoted market price is readily available. The values of the commingled funds are presented at estimated fair value, which is determined based on the unit value of the fund. The values of these investments are calculated by the custodian for the fund company on a monthly or more frequent basis, and are based on market prices of the assets held by each of the commingled funds divided by the number of fund shares outstanding for the respective fund. The investments in commingled funds have redemption limitations that permit monthly redemption following notice requirements of 5 to 7 days.

Real Estate: Real estate holdings represent investments in open-end and closed-end commingled real estate funds. As the property interests held in these real estate funds are not frequently traded, establishing the market value of the property interests held by the fund, and the resulting unit value of fund shareholders, is based on unobservable inputs including property appraisals by the fund companies, property appraisals by independent appraisal firms, analysis of the replacement cost of the property, discounted cash flows generated by property rents and changes in property values, and comparisons with sale prices of similar properties in similar markets. These real estate funds also furnish annual audited financial statements that are also used to further validate the information provided. Redemptions on the open-end funds are generally available on a quarterly basis, with 10 to 35 days written notice, depending on the individual fund. If the fund has sufficient liquidity, the redemption will be processed at the fund NAV or the fund’s estimate of fair value at the end of the quarter. If the fund does not have sufficient liquidity to honor the full redemption, the remainder will be set for redemption the following quarter on a pro-rata basis with other redemption requests. This same process will repeat until the redemption request has been completed. To protect other fund holders, real estate funds have no duty to liquidate or encumber funds to meet redemption requests. The closed-end funds are formed for a stated life of 7 to 9 years. The fund can be further extended with the approval of the limited partners. There are generally no redemption rights associated with these funds. The limited partner must hold the fund for the life of the fund or find a third-party buyer.

Private Market Investments: Private market investments represent two categories: fund of hedge funds and venture capital funds. These funds are valued by the fund companies based on the estimated fair values of the underlying fund holdings divided by the fund shares outstanding or multiplied by the ownership percentages of the holder. Some hedge fund strategies utilize securities with readily available market prices, while others utilize less liquid investment vehicles that are valued based on unobservable inputs including cost, operating results, recent funding activity, or comparisons with similar investment vehicles. Redemptions are available on a quarterly basis with 70 days written notice. Redemptions will be processed at the quarterly NAV or fair value within 60 days following quarter end. In the event of a full redemption, a reserve amount of 5% to 10% of the redemption amount may be held in reserve until the audited financial statements of the fund are published. This allows the fund to adjust the redemption so that other fund holders are not adversely impacted. Venture capital fund investments are valued by the fund companies based on estimated fair value of the underlying fund holdings divided by the fund shares outstanding. Some venture capital investments have progressed to the point that they have readily available exchange-based market valuations. Early stage venture investments are valued based on unobservable inputs including cost, operating results, discounted cash flows, the price of recent funding events, or pending offers from other viable entities. These private market investments furnish annual audited financial statements that are also used to further validate the information provided. These funds are formed for a stated life of 10 to 15 years. The general partner can extend the fund life for 2 or 3 one-year periods. The fund can be further extended with the approval of the limited partners. There are generally no redemption rights associated with these funds. The limited partner must hold the fund for the life of the fund or find a third-party buyer.
IDACORP  
Significant Accounting Policies  
Principles of Consolidation Accounting for Subsidiaries: IDACORP has accounted for the earnings of its subsidiaries under the equity method of accounting in these unconsolidated condensed financial statements.
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REVENUES: (Policies)
 12 Months Ended
Dec. 31, 2021
Revenues [Abstract]  
Revenue Recognition, Policy RevenuesOperating revenues are generally recorded when service is rendered or energy is delivered to customers. Idaho Power accrues estimated unbilled revenues for electric services delivered to customers but not yet billed at year-end. Idaho Power does not report any collections of franchise fees and similar taxes related to energy consumption on the income statement. In addition, regulatory mechanisms in place in Idaho and Oregon affect the reported amount of revenue.
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SEC Schedule, Article 12-04, Condensed Financial Information of Registrant (Policies)
 12 Months Ended
Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]  
Principles of Consolidation
Principles of Consolidation
 
IDACORP’s and Idaho Power’s consolidated financial statements include the assets, liabilities, revenues, and expenses of each company and its wholly-owned subsidiaries listed above, as well as any variable interest entity (VIE) for which the respective company is the primary beneficiary. Investments in VIEs for which the companies are not the primary beneficiaries, but have the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method of accounting. 

IDACORP also consolidates one VIE, Marysville Hydro Partners (Marysville), which is a joint venture owned 50 percent by Ida-West and 50 percent by Environmental Energy Company (EEC). At December 31, 2021, Marysville had approximately $16.0 million of assets, primarily a hydropower plant, and approximately $2.3 million of intercompany long-term debt, which is eliminated in consolidation. EEC has borrowed amounts from Ida-West to fund a portion of its required capital contributions to Marysville. The loans are payable from EEC’s share of distributions from Marysville and are secured by the stock of EEC and EEC’s interest in Marysville. Ida-West is identified as the primary beneficiary because the combination of its ownership interest in the joint venture with the intercompany note and the EEC note result in Ida-West's ability to control the activities of the joint venture. Creditors of Marysville have no recourse to the general credit of IDACORP and there are no other arrangements that could require IDACORP to provide financial support to Marysville or expose IDACORP to losses.
 
The BCC joint venture is also a VIE, but because the power to direct the activities that most significantly impact the economic performance of BCC is shared with the joint venture partner, Idaho Power is not the primary beneficiary. The carrying value of Idaho Power's investment in BCC was $22.7 million at December 31, 2021, and Idaho Power's maximum exposure to loss is the carrying value, any additional future contributions to BCC, and a $51.6 million guarantee for mine reclamation costs, which is discussed further in Note 10 - "Commitments."
 
IFS's affordable housing limited partnership and other real estate tax credit investments are also VIEs for which IDACORP is not the primary beneficiary. IFS's limited partnership interests range from 2 to 100 percent and were acquired between 1996 and 2021. As a limited partner, IFS does not control these entities and they are not consolidated. IFS’s maximum exposure to loss in these developments is limited to its net carrying value, which was $35.0 million at December 31, 2021.

Ida-West's other investments in PURPA facilities, Idaho Power's investment in BCC, and IFS's investments are accounted for under the equity method of accounting (see Note 15 - "Investments").

Except for amounts related to sales of electricity by Ida-West's PURPA projects to Idaho Power, all intercompany transactions and balances have been eliminated in consolidation. 
The accompanying consolidated financial statements include Idaho Power's proportionate share of utility plant and related operations resulting from its interests in jointly-owned plants (see Note 13 - "Property, Plant and Equipment and Jointly-Owned Projects").
IDACORP  
Condensed Financial Statements, Captions [Line Items]  
Principles of Consolidation Accounting for Subsidiaries: IDACORP has accounted for the earnings of its subsidiaries under the equity method of accounting in these unconsolidated condensed financial statements.
v3.22.0.1
Organization, Consolidation and Presentation of Financial Statements (Tables)
 12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Accounts Receivable, Allowance for Credit Loss
The following table provides a rollforward of the allowance for uncollectible accounts related to customer receivables (in thousands of dollars):
Year Ended
December 31,
 20212020
Balance at beginning of period$4,766 $1,401 
Additions to the allowance2,017 5,222 
Write-offs, net of recoveries(2,284)(1,857)
Balance at end of period$4,499 $4,766 
Allowance for uncollectible accounts as a percentage of customer receivables5.4 %6.1 %
v3.22.0.1
INCOME TAXES: Income Taxes Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Income Taxes [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation A reconciliation between the statutory federal income tax rate and the effective tax rate is as follows:
 IDACORPIdaho Power
 202120202019202120202019
(thousands of dollars)
Federal income tax expense at statutory rate$59,317 $55,885 $54,046 $59,111 $55,394 $53,099 
Change in taxes resulting from:     
AFUDC(9,141)(8,637)(7,941)(9,141)(8,637)(7,941)
Capitalized interest1,077 1,044 976 1,077 1,044 976 
Investment tax credits(2,866)(2,906)(6,252)(2,866)(2,906)(6,252)
Removal costs(3,302)(3,148)(3,139)(3,302)(3,148)(3,139)
Capitalized overhead costs(8,190)(7,560)(7,140)(8,190)(7,560)(7,140)
Capitalized repair costs(17,430)(18,480)(18,480)(17,430)(18,480)(18,480)
Bond redemption costs— (726)— — (726)— 
State income taxes, net of federal benefit11,359 8,804 8,627 11,633 9,052 8,401 
Depreciation14,233 13,589 14,641 14,233 13,589 14,641 
Excess deferred income tax reversal(8,958)(4,885)(6,181)(8,958)(4,885)(6,181)
Income tax return adjustments3,169 (2,552)745 1,759 (2,508)993 
Real Estate-related tax credits(6,245)(5,315)(2,874)— — — 
Real Estate-related investment distributions(1,010)(13)(3,232)— — — 
Real Estate-related investment amortization4,095 3,754 1,825 — — — 
Other, net804 (154)(1,114)331 319 (560)
Total income tax expense$36,912 $28,700 $24,507 $38,257 $30,548 $28,417 
Effective tax rate13.1%10.8%9.5%13.6%11.6%11.2%
Schedule of Components of Income Tax Expense
The items comprising income tax expense are as follows:
 IDACORPIdaho Power
 202120202019202120202019
(thousands of dollars)
Income taxes current:      
Federal$15,210 $7,800 $8,830 $40,525 $30,464 $25,338 
State6,630 3,215 4,865 12,932 6,409 (4,392)
Total21,840 11,015 13,695 53,457 36,873 20,946 
Income taxes deferred:      
Federal(1,787)11,543 9,486 (21,737)(4,905)(4,599)
State1,154 (1,414)1,159 (5,295)(4,241)10,054 
Total(633)10,129 10,645 (27,032)(9,146)5,455 
Investment tax credits:      
Deferred14,698 5,727 8,268 14,698 5,727 8,268 
Restored(2,866)(2,906)(6,252)(2,866)(2,906)(6,252)
Total11,832 2,821 2,016 11,832 2,821 2,016 
Real estate-related investments at IFS3,873 4,735 (1,849)— — — 
Total income tax expense$36,912 $28,700 $24,507 $38,257 $30,548 $28,417 
Schedule of Deferred Tax Assets and Liabilities
The components of the net deferred tax liability are as follows:
 IDACORPIdaho Power
 2021202020212020
 (thousands of dollars)
Deferred tax assets:    
Regulatory liabilities$96,880 $95,883 $96,880 $95,883 
Deferred compensation23,333 22,576 23,333 22,576 
Deferred revenue48,318 43,525 48,318 43,525 
Tax credits41,896 61,707 35,781 30,215 
Partnership investments12,265 10,189 11,949 7,211 
Retirement benefits110,997 142,864 110,997 142,864 
Other17,066 15,005 16,893 14,792 
Total350,755 391,749 344,151 357,066 
Deferred tax liabilities:  
Property, plant and equipment272,530 282,983 272,530 282,983 
Regulatory assets721,276 687,628 721,276 687,628 
Partnership investments2,824 3,257 — — 
Retirement benefits138,154 164,399 138,154 164,399 
Other58,346 53,733 57,062 51,202 
Total1,193,130 1,192,000 1,189,022 1,186,212 
Net deferred tax liabilities$842,375 $800,251 $844,871 $829,146 
v3.22.0.1
REGULATORY MATTERS: Regulatory Matters Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Regulatory Assets and Liabilities, Other Disclosures [Abstract]  
Schedule of Regulatory Assets and Liabilities
The following table presents a summary of Idaho Power’s regulatory assets and liabilities (in thousands of dollars):
As of December 31, 2021
Remaining
Amortization Period
Earning a Return(1)
Not Earning a ReturnTotal as of December 31,
Description20212020
Regulatory Assets:    
Income taxes(2)
 $— $721,276 $721,276 $687,628 
Unfunded postretirement benefits(3)
 — 315,011 315,011 444,470 
Pension expense deferrals(4)
197,623 36,814 234,437 200,686 
Energy efficiency program costs(5)
7,622 — 7,622 13,225 
Power supply costs(6)
2022-202342,940 (9,411)33,529 — 
Fixed cost adjustment(6)
2022-202335,058 19,886 54,944 55,491 
North Valmy plant settlements(6)
2022-202897,852 — 97,852 103,085 
Asset retirement obligations(7)
 — 22,585 22,585 19,035 
Wildfire Mitigation Plan deferral(6)
 — 6,075 6,075 — 
Long-term service agreement2022-204314,046 9,227 23,273 24,431 
Other2022-20552,846 14,204 17,050 10,844 
Total $397,987 $1,135,667 $1,533,654 $1,558,895 
Regulatory Liabilities:     
Income taxes(8)
 $— $96,880 $96,880 $95,883 
Depreciation-related excess deferred income taxes(9)
170,039 — 170,039 178,997 
Removal costs(7)
 — 184,670 184,670 182,334 
Investment tax credits — 109,460 109,460 97,627 
Deferred revenue-AFUDC(10)
 141,450 46,267 187,717 169,095 
Power supply costs(6)
— — — 15,009 
Settlement agreement sharing mechanism(6)
2022-2023569 — 569 — 
Mark-to-market liabilities — 8,581 8,581 1,995 
Tax reform accrual for future amortization(11)
— 24,522 24,522 16,893 
Other4,697 5,799 10,496 11,001 
Total $316,755 $476,179 $792,934 $768,834 
(1) Earning a return includes either interest or a return on the investment as a component of rate base at the allowed rate of return.
(2) Represents flow-through income tax accounting differences which have a corresponding deferred tax liability disclosed in Note 2 - "Income Taxes."
(3) Represents the unfunded obligation of Idaho Power’s pension and postretirement benefit plans, which are discussed in Note 12 - "Benefit Plans."
(4) Idaho Power records a regulatory asset for the difference between net periodic pension cost and pension cost considered for rate-making purposes relating to Idaho Power's defined benefit pension plan. In its Idaho jurisdiction, Idaho Power’s inclusion of pension costs for the establishment of retail rates is based upon contributions made to the pension plan. This regulatory asset account represents the difference between cumulative cash contributions and amounts collected in rates. Deferred costs are amortized into expense as the amounts are provided for in Idaho retail revenues.
(5)    The energy efficiency asset includes both the Idaho and Oregon jurisdiction balances at December 31, 2021 and 2020.
(6) This item is discussed in more detail in this Note 3 - "Regulatory Matters."
(7) Asset retirement obligations and removal costs are discussed in Note 14 - "Asset Retirement Obligations (ARO)."
(8) Represents the tax gross-up related to the depreciation-related excess deferred income taxes and investment tax credits included in this table and has a corresponding deferred tax asset disclosed in Note 2 - "Income Taxes."
(9) In 2017, income tax reform reduced deferred income tax assets and liabilities. For depreciation-related temporary differences under the normalized tax accounting method, the resulting excess deferred taxes will flow back to customers ratably over the remaining regulatory lives of Idaho Power's plant assets under the alternative method provided in the statute. The average rate assumption method was used to compute this reversal for fiscal years 2018-2020.
(10) Idaho Power is collecting revenue in the Idaho jurisdiction for AFUDC on HCC relicensing costs but is deferring revenue recognition of the amounts collected until the license is issued and the asset is placed in service under the new license.
(11) Represents amount accrued under the May 2018 Idaho Tax Reform Settlement Stipulation (described below) for the future amortization of existing or future unspecified regulatory deferrals that would otherwise be a future liability recoverable from Idaho customers.
Schedule of Power Cost Adjustment Changes The table below summarizes the three most recent Idaho-jurisdiction PCA rate adjustments, which also include non-PCA-related rate adjustments as ordered by the IPUC:
Effective Date$ Change (millions)Notes
June 1, 2021$39.1 The net increase in PCA revenues reflects a forecasted reduction in low-cost hydroelectric generation as well as higher costs associated with forecasted PURPA power purchases. The net increase in PCA revenues also reflects a smaller credit to customers thru the true-up component.
June 1, 2020$58.7 
The $58.7 million increase in PCA rates reflects a return to a more normal level of power supply costs as wholesale market energy prices came down from unusually high levels in the previous year's PCA and a forecasted reduction in low-cost hydropower generation.
June 1, 2019$(50.1)
The $$50.1 million decrease in PCA rates includes a $5.0 million credit to customers for sharing of 2018 earnings under the October 2014 Idaho Earnings Support and Sharing Settlement Stipulation and a $2.7 million credit for income tax reform benefits related to Idaho Power's open access transmission tariff (OATT) rate under a May 2018 Idaho tax reform settlement stipulation as described below in this Note 3 - Regulatory Matters.
Schedule of Fixed Cost Rate Adjustments
The following table summarizes FCA amounts approved for collection in the prior three FCA years:
FCA YearPeriod Rates in EffectAnnual Amount
 (in millions)
2020June 1, 2021-May 31, 2022$38.3
2019June 1, 2020-May 31, 2021$35.5
2018June 1, 2019-May 31, 2020$34.8
Schedule of Open Access Transmission Rates Idaho Power's OATT rates submitted to the FERC in Idaho Power's four most recent annual OATT Final Informational Filings were as follows:
Applicable PeriodOATT Rate (per kW-year)
October 1, 2021 to September 30, 2022$31.19 
October 1, 2020 to September 30, 2021$29.95 
October 1, 2019 to September 30, 2020$27.32 
October 1, 2018 to September 30, 2019$31.25 
v3.22.0.1
REVENUES: Electric utility operating revenues (Tables)
 12 Months Ended
Dec. 31, 2021
Electric utility operating revenues [Line Items]  
Electric utility operating revenues
The following table provides a summary of electric utility operating revenues for IDACORP and Idaho Power (in thousands):
Year Ended December 31,
 202120202019
Electric utility operating revenues:
Revenue from contracts with customers$1,382,653 $1,286,637 $1,285,286 
Alternative revenue programs and derivative revenues72,757 60,703 57,654 
Total electric utility operating revenues$1,455,410 $1,347,340 $1,342,940 
Disaggregation of Revenue
Revenues from contracts with customers are primarily related to Idaho Power’s regulated tariff-based sales of energy or related services. Generally, tariff-based sales do not involve a written contract, but are classified as revenues from contracts with customers. Idaho Power assesses revenues on a contract-by-contract basis to determine the nature, amount, timing, and uncertainty, if any, of revenues being recognized. The following table presents revenues from contracts with customers disaggregated by revenue source (in thousands):

Year Ended December 31,
 202120202019
Revenues from contracts with customers:
Retail revenues:
 Residential (includes $34,835, $34,409, and $35,587, respectively, related to the FCA(1))
$583,061 $547,404 $526,966 
 Commercial (includes $1,407, $1,543, and $1,336, respectively, related to the FCA(1))
314,745 293,057 295,203 
Industrial195,214 181,258 181,372 
Irrigation168,664 154,791 135,850 
Provision for sharing(569)— — 
Deferred revenue related to HCC relicensing AFUDC(2)
(8,780)(8,780)(8,780)
Total retail revenues1,252,335 1,167,730 1,130,611 
Less: FCA mechanism revenues(1)
(36,242)(35,952)(36,923)
Wholesale energy sales40,839 33,656 71,198 
Transmission wheeling-related revenues67,997 51,592 53,828 
Energy efficiency program revenues29,920 42,478 40,128 
Other revenues from contracts with customers27,804 27,133 26,444 
Total revenues from contracts with customers$1,382,653 $1,286,637 $1,285,286 
(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 AFUDC on construction work in progress related to the 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
The table below presents the FCA mechanism revenues and derivative revenues (in thousands):
Year Ended December 31,
 202120202019
Alternative revenue programs and derivative revenues:
FCA mechanism revenues$36,242 $35,952 $36,923 
Derivative revenues36,515 24,751 20,731 
Total alternative revenue programs and derivative revenues$72,757 $60,703 $57,654 
v3.22.0.1
LONG-TERM DEBT: Long-term Debt Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Instrument [Line Items]  
Schedule of Long-term Debt Instruments
The following table summarizes IDACORP's and Idaho Power's long-term debt at December 31 (in thousands of dollars):
20212020
First mortgage bonds:
2.50% Series due 2023
$75,000 $75,000 
1.90% Series due 2030
80,000 80,000 
6.00% Series due 2032
100,000 100,000 
5.50% Series due 2033
70,000 70,000 
5.50% Series due 2034
50,000 50,000 
5.875% Series due 2034
55,000 55,000 
5.30% Series due 2035
60,000 60,000 
6.30% Series due 2037
140,000 140,000 
6.25% Series due 2037
100,000 100,000 
4.85% Series due 2040
100,000 100,000 
4.30% Series due 2042
75,000 75,000 
4.00% Series due 2043
75,000 75,000 
3.65% Series due 2045
250,000 250,000 
4.05% Series due 2046
120,000 120,000 
4.20% Series due 2048
450,000 450,000 
Total first mortgage bonds1,800,000 1,800,000 
Pollution control revenue bonds:
1.45% Series due 2024(1)
49,800 49,800 
1.70% Series due 2026(1)
116,300 116,300 
Variable Rate Series 2000 due 20274,360 4,360 
Total pollution control revenue bonds170,460 170,460 
American Falls bond guarantee19,885 19,885 
Unamortized premium/discount and issuance costs10,295 10,069 
Total IDACORP and Idaho Power outstanding debt(2)
2,000,640 2,000,414 
Current maturities of long-term debt— — 
Total long-term debt$2,000,640 $2,000,414 
(1) Humboldt County and Sweetwater County Pollution Control Revenue Bonds are secured by the first mortgage bonds, bringing the total first mortgage bonds outstanding at December 31, 2021, to $1.966 billion.
(2) At both December 31, 2021 and 2020, the overall effective cost rate of Idaho Power's outstanding debt was 4.40 percent.
Schedule of Maturities of Long-term Debt
At December 31, 2021, the maturities for the aggregate amount of IDACORP and Idaho Power long-term debt outstanding were as follows (in thousands of dollars):
20222023202420252026Thereafter
$— $75,000 $49,800 $19,885 $116,300 $1,729,360 
v3.22.0.1
NOTES PAYABLE: Notes Payable Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Shedule of short term debt [Abstract]  
Schedule of Short-term Debt IDACORP’s and Idaho Power's short-term borrowings were zero at both December 31, 2021 and 2020.
v3.22.0.1
COMMON STOCK: Common Stock Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Class of Stock Disclosures [Abstract]  
Schedule of Stock by Class
The following table summarizes IDACORP common stock transactions during the last three years and shares reserved at December 31, 2021:
 Shares issuedShares reserved
 202120202019December 31, 2021
Balance at beginning of year50,461,88550,420,01750,420,017 
Continuous equity program (inactive)———3,000,000
Dividend reinvestment and stock purchase plan———2,840,117
Employee savings plan———3,567,954
Long-term incentive and compensation plan(1)
54,59441,868—1,260,267
Balance at end of year50,516,47950,461,88550,420,017 
(1) During 2021, 2020, and 2019, IDACORP granted 76,147, 75,030, and 70,419 restricted stock unit awards, respectively, to employees and 14,025, 10,296, and 9,594 shares of common stock, respectively, to directors. During 2021 and 2020, IDACORP issued 54,594 and 41,868 shares of common stock, respectively, using original issuances of shares pursuant to the IDACORP, Inc. 2000 Long-Term Incentive and Compensation Plan, including 12,784 and 8,938 shares of common stock, respectively, issued to members of the board of directors. During 2019, IDACORP made no original issuances of shares of common stock.
v3.22.0.1
SHARE-BASED COMPENSATION Share-based Compensation Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary of restricted stock and performance-based shares award activity
A summary of Restricted Stock and Performance-Based Shares award activity is presented below. Idaho Power share amounts represent the portion of IDACORP amounts related to Idaho Power employees:
 IDACORPIdaho Power
Number of
Shares/Units		Weighted-Average
Grant Date
Fair Value		Number of
Shares/Units		Weighted-Average
Grant Date
Fair Value
Nonvested shares/units at January 1, 2021157,035 $100.89 156,013 $100.90 
Shares/units granted96,345 87.76 95,821 87.76 
Shares/units forfeited(2,210)98.72 (2,210)98.72 
Shares/units vested(75,914)87.24 (75,415)87.24 
Nonvested shares/units at December 31, 2021175,256 $99.61 174,209 $99.61 
Compensation cost recognized in income
Compensation Expense: The following table shows the compensation cost recognized in income and the tax benefits resulting from the LTICP, as well as the amounts allocated to Idaho Power for those costs associated with Idaho Power’s employees (in thousands of dollars): 
 IDACORPIdaho Power
 202120202019202120202019
Compensation cost$8,583 $7,416 $8,788 $8,497 $7,339 $8,639 
Income tax benefit2,209 1,909 2,262 2,187 1,889 2,224 
v3.22.0.1
EARNINGS PER SHARE: Earnings Per Share Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Earnings Per Share, Basic and Diluted [Abstract]  
Schedule of Earnings Per Share, Diluted
The following table presents the computation of IDACORP’s basic and diluted earnings per share for the years ended December 31, 2021, 2020, and 2019 (in thousands, except for per share amounts):
Year Ended December 31,
 202120202019
Numerator:   
Net income attributable to IDACORP, Inc.$245,550 $237,417 $232,854 
Denominator:  
Weighted-average common shares outstanding - basic50,599 50,538 50,502 
Effect of dilutive securities463435
Weighted-average common shares outstanding - diluted50,645 50,572 50,537 
Basic earnings per share$4.85 $4.70 $4.61 
Diluted earnings per share$4.85 $4.69 $4.61 
v3.22.0.1
COMMITMENTS: Commitments Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Long-term Contracts for Purchase of Electric Power At December 31, 2021, Idaho Power had the following long-term commitments relating to purchases of energy, capacity, transmission rights, and fuel (in thousands of dollars):
 20222023202420252026Thereafter
Cogeneration and power production$298,867 $308,741 $311,968 $296,579 $293,508 $2,456,582 
Fuel62,287 19,328 8,663 8,362 8,354 58,355 
Long-term Purchase Commitment
Idaho Power also has the following long-term commitments (in thousands of dollars):
 20222023202420252026Thereafter
Joint-operating agreement payments(1)
$2,822 $2,822 $2,822 $2,822 $2,822 $14,110 
Easements and other payments1,925 1,965 2,006 2,049 2,092 11,136 
Maintenance and service agreements(1)
97,847 13,522 10,134 6,319 6,592 46,764 
FERC and other industry-related fees(1)
16,772 14,549 14,174 14,174 14,174 70,870 
(1) Approximately $28 million, $18 million, and $143 million of the obligations included in joint-operating agreement payments, maintenance and service agreements, and FERC and other industry-related fees, respectively, have contracts that do not specify terms related to expiration. As these contracts are presumed to continue indefinitely, ten years of information, estimated based on current contract terms, has been included in the table for presentation purposes.
v3.22.0.1
BENEFIT PLANS: Benefit Plans Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Defined Benefit Plan Disclosure  
Schedule of Accumulated Other Comprehensive Income (Loss) The table below presents changes in components of accumulated other comprehensive income (AOCI), net of tax, during the years ended December 31, 2021, 2020, and 2019 (in thousands of dollars). Items in parentheses indicate reductions to AOCI.
Year Ended December 31,
202120202019
Defined benefit pension items
Balance at beginning of period$(43,358)$(36,284)$(22,844)
Other comprehensive income before reclassifications, net of tax of $(8), $(3,488), and $(5,335)
(25)(10,062)(15,392)
Amounts reclassified out of AOCI to net income, net of tax of $1,158, $1,036, and $677
3,343 2,988 1,952 
Net current-period other comprehensive income3,318 (7,074)(13,440)
Balance at end of period$(40,040)$(43,358)$(36,284)
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table presents information about IDACORP’s and Idaho Power’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 and 2020 (in thousands of dollars): 
December 31, 2021December 31, 2020
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:    
Money market funds and commercial paper
IDACORP(1)
$80,406 $— $— $80,406 $56,048 $— $— $56,048 
Idaho Power10,393 — — 10,393 40,038 — — 40,038 
Derivatives6,596 2 — 6,598 1,995 — — 1,995 
Equity securities54,431 — — 54,431 50,733 — — 50,733 
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)
— — — 1,363 — — — — 
Liabilities:
Derivatives$34 $5,713 $— $5,747 $134 $10 $— $144 
(1) Holding company only. Does not include amounts held by Idaho Power.
Benefit Obligations [Member]  
Defined Benefit Plan Disclosure  
Schedule of Assumptions Used
The following table sets forth the weighted-average assumptions used at the end of each year to determine benefit obligations for all Idaho Power-sponsored pension and postretirement benefits plans:
Pension PlanSMSPPostretirement
Benefits
 202120202021202020212020
Discount rate3.05 %2.80 %3.00 %2.70 %2.95 %2.70 %
Rate of compensation increase(1)
4.49 %4.43 %4.75 %4.75 %— — 
Medical trend rate— — — — 6.3 %6.8 %
Dental trend rate— — — — 3.5 %4.0 %
Measurement date12/31/202112/31/202012/31/202112/31/202012/31/202112/31/2020
(1) The 2021 rate of compensation increase assumption for the pension plan includes an inflation component of 2.40% plus a 2.09% composite merit increase component that is based on employees' years of service. Merit salary increases are assumed to be 8.0% for employees in their first year of service and scale down to 0.6% for employees in their fortieth year of service and beyond.
Net Periodic Benefit Cost [Member]  
Defined Benefit Plan Disclosure  
Schedule of Assumptions Used
The following table sets forth the weighted-average assumptions used to determine net periodic benefit cost for all Idaho Power-sponsored pension and postretirement benefit plans: 
Pension PlanSMSPPostretirement
Benefits
 202120202019202120202019202120202019
Discount rate2.80 %3.60 %4.55 %2.70 %3.65 %4.60 %2.70 %3.60 %4.60 %
Expected long-term rate of return on assets
7.40 %7.40 %7.50 %— — — 6.00 %6.50 %6.75 %
Rate of compensation increase4.49 %4.43 %4.37 %4.75 %4.75 %4.75 %— — %— %
Medical trend rate— — — — — — 6.3 %6.8 %6.7 %
Dental trend rate— — — — — — 3.5 %4.0 %4.0 %
Pension Plan  
Defined Benefit Plan Disclosure  
Schedule of Defined Benefit Plans Disclosures The following table summarizes the changes in benefit obligations and plan assets of these plans (in thousands of dollars): 
 Pension PlanSMSP
 2021202020212020
 
Change in projected benefit obligation:    
Benefit obligation at January 1$1,337,395 $1,134,752 $134,791 $122,443 
Service cost54,202 42,987 813 213 
Interest cost37,317 40,013 3,557 4,350 
Actuarial (gain) loss(35,833)163,610 33 13,420 
Plan amendment— — — 130 
Benefits paid(46,551)(43,967)(6,182)(5,765)
Projected benefit obligation at December 311,346,530 1,337,395 133,012 134,791 
Change in plan assets:  
Fair value at January 1871,603 763,119 — — 
Actual return on plan assets119,412 112,451 — — 
Employer contributions40,000 40,000 — — 
Benefits paid(46,551)(43,967)— — 
Fair value at December 31984,464 871,603 — — 
Funded status at end of year$(362,066)$(465,792)$(133,012)$(134,791)
Amounts recognized in the balance sheet consist of:    
Other current liabilities$— $— $(6,226)$(6,154)
Noncurrent liabilities(362,066)(465,792)(126,786)(128,637)
Net amount recognized
$(362,066)$(465,792)$(133,012)$(134,791)
Amounts recognized in accumulated other comprehensive income consist of:
    
Net loss$322,908 $437,859 $51,365 $55,537 
Prior service cost43 49 2,687 2,983 
Subtotal322,951 437,908 54,052 58,520 
Less amount recorded as regulatory asset(1)
(322,951)(437,908)— — 
Net amount recognized in accumulated other comprehensive income
$— $— $54,052 $58,520 
Accumulated benefit obligation$1,120,036 $1,115,923 $121,591 $119,517 
(1) Changes in the funded status of the pension plan that would be recorded in accumulated other comprehensive income for an unregulated entity are recorded as a regulatory asset for Idaho Power as Idaho Power believes it is probable that an amount equal to the regulatory asset will be collected through the setting of future rates.
Schedule of Costs of Retirement Plans
The following table shows the components of net periodic pension cost for these plans (in thousands of dollars). For purposes of calculating the expected return on plan assets, the market-related value of assets is equal to the fair value of the assets.
 Pension PlanSMSP
 202120202019202120202019
Service cost$54,202 $42,987 $34,061 $813 $213 $(181)
Interest cost37,317 40,013 42,312 3,557 4,350 4,575 
Expected return on assets(64,090)(56,239)(48,623)— — — 
Amortization of net loss23,796 17,325 13,564 4,205 3,734 2,533 
Amortization of prior service cost6 6 6 296 290 96 
Net periodic pension cost51,231 44,092 41,320 8,871 8,587 7,023 
Regulatory deferral of net periodic pension cost(1)
(48,962)(42,042)(39,379)— — — 
Previously deferred pension cost recognized(1)
17,154 17,154 17,154 — — — 
Net periodic pension cost recognized for financial reporting(1)(2)
$19,423 $19,204 $19,095 $8,871 $8,587 $7,023 
(1) Net periodic pension 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 pension 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 pension cost recognized for financial reporting $17.8 million, $15.9 million, and $15.1 million respectively, was recognized in "Other operations and maintenance" and $10.5 million, and $11.9 million, and $11.0 million respectively, was recognized in "Other (income) expense, net" on the consolidated statements of income of the companies for the twelve months ended December 31, 2021, 2020, and 2019.
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The following table shows the components of other comprehensive (loss) income for the plans (in thousands of dollars):
 Pension PlanSMSP
 202120202019202120202019
Actuarial gain (loss) during the year$91,156 $(107,399)$(82,631)$(33)$(13,420)$(17,888)
Plan amendment service cost— — — — (130)(2,839)
Reclassification adjustments for:
Amortization of net loss23,796 17,325 13,564 4,205 3,734 2,533 
Amortization of prior service cost6 6 6 296 290 96 
Adjustment for deferred tax effects(29,590)23,184 17,776 (1,150)2,452 4,658 
Adjustment due to the effects of regulation
(85,368)66,884 51,285 — — — 
Other comprehensive income (loss) recognized related to pension benefit plans$— $— $— $3,318 $(7,074)$(13,440)
Schedule of Expected Benefit Payments
The following table summarizes the expected future benefit payments of these plans (in thousands of dollars):
 202220232024202520262026-2030
Pension Plan$45,239 $47,038 $48,890 $50,850 $52,855 $293,409 
SMSP6,226 6,439 6,619 6,638 6,738 34,700 
Schedule of Allocation of Plan Assets
Pension Asset Allocation Policy: The target allocation and actual allocations at December 31, 2021, for the pension asset portfolio by asset class is set forth below:
Asset ClassTarget
Allocation		Actual
Allocation
December 31, 2021
Debt securities24 %23 %
Equity securities59 %61 %
Real estate9 %8 %
Other plan assets8 %8 %
Total100 %100 %
Postretirement Benefits  
Defined Benefit Plan Disclosure  
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The following table shows the components of other comprehensive income for the plan (in thousands of dollars):
 202120202019
Actuarial gain (loss) during the year$9,718 $(6,515)$(249)
Reclassification adjustments for:
Immediate recognition of loss from temporary deviation(1)
4,736 — — 
Reclassification adjustments for amortization of prior service cost47 47 48 
Adjustment for deferred tax effects(2,514)1,665 52 
Adjustment due to the effects of regulation
(11,987)4,803 149 
Other comprehensive income related to postretirement benefit plans
$— $— $— 
(1) In 2021, a loss associated with a temporary deviation from the cost-sharing provisions of the substantive plan was recognized in "Other (income) expense, net" on the consolidated statements of income of the companies.
Schedule of Changes in Projected Benefit Obligations
The following table summarizes the changes in benefit obligation and plan assets (in thousands of dollars):
 20212020
Change in accumulated benefit obligation:  
Benefit obligation at January 1$80,952 $71,029 
Service cost1,063 1,029 
Interest cost2,059 2,493 
Actuarial (gain) loss (5,805)9,359 
Benefits paid(1)
(4,194)(2,958)
Benefit obligation at December 3174,075 80,952 
Change in plan assets:  
Fair value of plan assets at January 141,311 39,625 
Actual return on plan assets6,308 5,248 
Employer contributions(1)
(1,961)(604)
Benefits paid(1)
(4,194)(2,958)
Fair value of plan assets at December 3141,464 41,311 
Funded status at end of year (included in noncurrent liabilities)$(32,611)$(39,641)
(1) Contributions and benefits paid are each net of $3.0 million and $3.4 million of plan participant contributions for 2021 and 2020, respectively.
Schedule of Accumulated Other Comprehensive Income (Loss)
Amounts recognized in accumulated other comprehensive income consist of the following (in thousands of dollars):
 20212020
Net (gain) loss$(8,020)$6,434 
Prior service cost80 127 
Subtotal(7,940)6,561 
Less amount recognized in regulatory assets7,940 (6,561)
Net amount recognized in accumulated other comprehensive income$— $— 
Schedule of Net Benefit Costs
The net periodic postretirement benefit cost was as follows (in thousands of dollars):

 202120202019
Service cost$1,063 $1,029 $853 
Interest cost2,059 2,493 2,989 
Expected return on plan assets(2,395)(2,404)(2,220)
Immediate recognition of loss from temporary deviation(1)
4,736 — — 
Amortization of prior service cost47 47 48 
Net periodic postretirement benefit cost$5,510 $1,165 $1,670 
(1) In 2021, a loss associated with a temporary deviation from the cost-sharing provisions of the substantive plan was recognized in "Other (income) expense, net" on the consolidated statements of income of the companies.
Schedule of Expected Benefit Payments
The following table summarizes the expected future benefit payments of the postretirement benefit plan (in thousands of dollars):
 202220232024202520262026-2029
Expected benefit payments$5,447 $5,241 $4,982 $4,790 $4,557 $19,841 
Other Pension Plan [Member]  
Defined Benefit Plan Disclosure  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis The following table presents the fair value of the plans' investments by asset category (in thousands of dollars).
 Level 1Level 2Level 3Total
Assets at December 31, 2021    
Cash and cash equivalents$24,636 $— $— $24,636 
Intermediate bonds39,133 187,048 — 226,181 
Equity Securities: Large-Cap104,318 — — 104,318 
Equity Securities: Mid-Cap113,621 — — 113,621 
Equity Securities: Small-Cap85,244 — — 85,244 
Equity Securities: Micro-Cap42,915 — — 42,915 
Equity Securities: Global and International67,625 — — 67,625 
Equity Securities: Emerging Markets7,393 — — 7,393 
Plan assets measured at NAV (not subject to hierarchy disclosure)
Commingled Fund: Equity Securities: Global and International134,752 
Commingled Fund: Equity Securities: Emerging Markets47,332 
Real estate73,958 
Private market investments56,489 
Total$484,885 $187,048 $— $984,464 
Postretirement plan assets(1)
$2,391 $39,073 $— $41,464 
 Level 1Level 2Level 3Total
Assets at December 31, 2020
    
Cash and cash equivalents$25,008 $— $— $25,008 
Intermediate bonds34,455 163,000 — 197,455 
Equity Securities: Large-Cap79,259 — — 79,259 
Equity Securities: Mid-Cap104,089 — — 104,089 
Equity Securities: Small-Cap82,069 — — 82,069 
Equity Securities: Micro-Cap44,715 — — 44,715 
Equity Securities: Global and International69,687 — — 69,687 
Equity Securities: Emerging Markets10,574 — — 10,574 
Plan assets measured at NAV (not subject to hierarchy disclosure)
Commingled Fund: Equity Securities: Global and International116,223 
Commingled Fund: Equity Securities: Emerging Markets50,019 
Real estate54,630 
Private market investments37,875 
Total$449,856 $163,000 $— $871,603 
Postretirement plan assets(1)
$1,333 $39,978 $— $41,311 
(1) The postretirement benefits assets are primarily life insurance contracts.
v3.22.0.1
PROPERTY, PLANT AND EQUIPMENT AND JOINTLY-OWNED PROJECTS: Property, Plant and Equipment Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Public Utility, Property, Plant and Equipment  
Schedule of Public Utility Property, Plant, and Equipment
The following table presents the major classifications of Idaho Power’s utility plant in service, annual depreciation provisions as a percent of average depreciable balance, and accumulated provision for depreciation for the years ended December 31, 2021 and 2020 (in thousands of dollars):
 20212020
 BalanceAvg RateBalanceAvg Rate
Production$2,597,285 3.15 %$2,529,708 3.23 %
Transmission1,309,143 1.89 %1,272,360 1.88 %
Distribution2,058,819 2.25 %1,968,752 2.26 %
General and Other544,069 6.17 %512,970 6.17 %
Total in service6,509,316 2.85 %6,283,790 2.88 %
Accumulated provision for depreciation(2,298,951) (2,193,831) 
In service - net$4,210,365  $4,089,959  
Schedule of Jointly Owned Utility Plants
Idaho Power's ownership interest in two jointly-owned generating facilities is included in the table above. Under the joint operating agreements for these facilities, each participating utility is responsible for financing its share of construction, operating, and leasing costs. Idaho Power's proportionate share of operating expenses for each facility is included in the Consolidated Statements of Income. These jointly-owned facilities, including balance sheet amounts and the extent of Idaho Power’s participation, were as follows at December 31, 2021 (in thousands of dollars): 
Name of PlantLocationUtility Plant in ServiceConstruction
Work in Progress		Accumulated
Provision for Depreciation		Ownership %
MW(1)(2)
Jim Bridger units 1-4Rock Springs, WY$771,034 $7,775 $401,696 33775
North Valmy unit 2(2)
Winnemucca, NV255,451 881 195,258 50145
(1) Idaho Power’s share of nameplate capacity.
(2) Pursuant to an agreement with NV Energy, Idaho Power's participation in coal-fired operations of North Valmy ended in December 2019 at unit 1 and is planned to end no later than the end of 2025 at unit 2.
v3.22.0.1
ASSET RETIREMENT OBLIGATIONS Asset Retirement Obligations Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Asset Retirement Obligation [Abstract]  
Schedule of Change in Asset Retirement Obligation
The following table presents the changes in the carrying amount of AROs (in thousands of dollars): 
 20212020
Balance at beginning of year$27,691 $28,191 
Accretion expense1,021 1,053 
Revisions in estimated cash flows9,415 193 
Liability settled(1,429)(1,746)
Balance at end of year$36,698 $27,691 
v3.22.0.1
INVESTMENTS: Investments Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Investments
The table below summarizes IDACORP’s and Idaho Power’s investments as of December 31 (in thousands of dollars): 
 20212020
Idaho Power investments:  
Bridger Coal Company (equity method investment)$22,677 $37,115 
Exchange traded short-term bond funds and cash equivalents54,078 50,531 
Executive deferred compensation plan investments353 202 
Total Idaho Power investments77,108 87,848 
IFS investments in real estate tax credit projects, such as affordable housing developments34,967 28,438 
Ida-West joint ventures (equity method investments)10,386 10,662 
Other investments1,363 — 
Total IDACORP investments$123,824 $126,948 
Schedule of Equity in Earnings (Losses) of Equity Method Investments The table below presents IDACORP’s and Idaho Power’s earnings of unconsolidated equity-method investments (in thousands of dollars):
 202120202019
Bridger Coal Company (Idaho Power)$10,211 $10,102 $10,285 
Ida-West joint ventures1,224 1,411 2,085 
Total$11,435 $11,513 $12,370 
Schedule of Realized Gain (Loss) The following table summarizes sales of equity securities (in thousands of dollars):
 202120202019
Proceeds from sales$11,328 $25,795 $5,080 
Gross realized gains from sales— — — 
v3.22.0.1
DERIVATIVE FINANCIAL INSTRUMENTS: Derivative Financial Instruments Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
General Discussion of Derivative Instruments and Hedging Activities [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 years ended December 31, 2021, 2020, and 2019 (in thousands of dollars):
Location of Realized Gain/(Loss) on Derivatives Recognized in Income
Gain/(Loss) on Derivatives Recognized in Income(1)
202120202019
Financial swapsOperating revenues$1,046 $2,173 $904 
Financial swapsPurchased power1,959 (3,531)(2,183)
Financial swapsFuel expense12,180 (4,791)13,811 
Forward contractsOperating revenues1,966 421 285 
Forward contractsPurchased power(1,099)(384)(270)
Forward contractsFuel expense(194)(36)565 
(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 December 31, 2021 and 2020 (in thousands of dollars):
Asset DerivativesLiability Derivatives
 Balance Sheet LocationGross Fair ValueAmounts OffsetNet AssetsGross Fair ValueAmounts OffsetNet Liabilities
December 31, 2021
Current:   
Financial swapsOther current assets$10,599 $(4,893)(1)$5,706 $2,910 $(2,910)$— 
Financial swapsOther current liabilities— — — 20 — 20 
Forward contractsOther current assets6 (4)2 4 (4)— 
Forward contractsOther current liabilities— — — 1,970 — 1,970 
Long-term:  
Financial swapsOther assets899 (9)890 9 (9)— 
Financial swapsOther liabilities— — — 14 — 14 
Forward contractsOther liabilities— — — 3,743 — 3,743 
Total $11,504 $(4,906)$6,598 $8,670 $(2,923)$5,747 
December 31, 2020
Current:   
Financial swapsOther current assets$2,028 $(36)$1,992 $36 $(36)$— 
Financial swapsOther current liabilities187 (187)— 786 (652)(2)134 
Forward contractsOther current assets5 (2)3 2 (2)— 
Forward contractsOther current liabilities3 (3)— 13 (3)10 
Long-term:   
Financial swapsOther liabilities40 (40)— 56 (56)(2)— 
Total $2,263 $(268)$1,995 $893 $(749)$144 
(1) Current asset derivative amounts offset include $2.0 million of collateral payable at December 31, 2021.
(2) Current and long-term liability derivative amounts offset include $0.5 million and $16 thousand of collateral receivable at December 31, 2020, respectively.
 [1]
Schedule of Derivative Instruments
The table below presents the volumes of derivative commodity forward contracts and swaps outstanding at December 31, 2021 and 2020 (in thousands of units):
December 31,
CommodityUnits20212020
Electricity purchasesMWh529 74 
Electricity salesMWh129 — 
Natural gas purchasesMMBtu11,740 7,923 
Natural gas salesMMBtu— 775 
[1] Current asset derivative amounts offset include $2.0 million of collateral payable at December 31, 2021.(2) Current and long-term liability derivative amounts offset include $0.5 million and $16 thousand of collateral receivable at December 31, 2020, respectively.
v3.22.0.1
FAIR VALUE MEASUREMENTS: Fair Value Measurements Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Fair value measurements [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table presents information about IDACORP’s and Idaho Power’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 and 2020 (in thousands of dollars): 
December 31, 2021December 31, 2020
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:    
Money market funds and commercial paper
IDACORP(1)
$80,406 $— $— $80,406 $56,048 $— $— $56,048 
Idaho Power10,393 — — 10,393 40,038 — — 40,038 
Derivatives6,596 2 — 6,598 1,995 — — 1,995 
Equity securities54,431 — — 54,431 50,733 — — 50,733 
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)
— — — 1,363 — — — — 
Liabilities:
Derivatives$34 $5,713 $— $5,747 $134 $10 $— $144 
(1) Holding company only. Does not include amounts held by Idaho Power.
Fair Value, by Balance Sheet Grouping
The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value, as of December 31, 2021 and 2020, using available market information and appropriate valuation methodologies (in thousands).
 December 31, 2021December 31, 2020
 Carrying AmountEstimated Fair ValueCarrying AmountEstimated Fair Value
 (thousands of dollars)
IDACORP    
Assets:    
Notes receivable(1)
$3,804 $3,804 $3,804 $3,804 
Liabilities:    
Long-term debt (including current portion)(1)
2,000,640 2,381,172 2,000,414 2,466,967 
Idaho Power    
Liabilities:    
Long-term debt (including current portion)(1)
$2,000,640 $2,381,172 $2,000,414 $2,466,967 
(1) Notes receivable and long-term debt are categorized as Level 3 and Level 2, respectively, of the fair value hierarchy, as defined earlier in this Note 17 - "Fair Value Measurements
v3.22.0.1
SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [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
2021    
Revenues$1,455,410 $2,674 $— $1,458,084 
Operating income329,568 83 — 329,651 
Other income, net21,243 (138)— 21,105 
Interest income7,123 216 (47)7,292 
Equity-method income10,211 1,224 — 11,435 
Interest expense86,663 82 (47)86,698 
Income before income taxes281,482 1,302 — 282,784 
Income tax expense (benefit)38,257 (1,345)— 36,912 
Income attributable to IDACORP, Inc.243,225 2,325 — 245,550 
Total assets6,990,839 281,999 (62,323)7,210,515 
Expenditures for long-lived assets299,972 27 — 299,999 
Utility
Operations		All
Other		EliminationsConsolidated
Total
2020    
Revenues$1,347,340 $3,389 $— $1,350,729 
Operating income308,780 741 — 309,521 
Other income, net22,555 (8)— 22,547 
Interest income9,733 1,275 (496)10,512 
Equity-method income10,102 1,411 — 11,513 
Interest expense87,389 533 (496)87,426 
Income before income taxes263,783 2,885 — 266,668 
Income tax expense (benefit)30,548 (1,848)— 28,700 
Income attributable to IDACORP, Inc.233,235 4,182 — 237,417 
Total assets6,906,110 253,060 (63,926)7,095,244 
Expenditures for long-lived assets310,937 1 — 310,938 
2019    
Revenues$1,342,940 $3,443 $— $1,346,383 
Operating income297,652 674 — 298,326 
Other income, net20,362 1 — 20,363 
Interest income10,968 3,052 (769)13,251 
Equity-method income10,285 2,085 — 12,370 
Interest expense86,412 832 (769)86,475 
Income before income taxes252,854 4,981 — 257,835 
Income tax expense (benefit)28,417 (3,910)— 24,507 
Income attributable to IDACORP, Inc.224,437 8,417 — 232,854 
Total assets6,494,159 220,620 (73,578)6,641,201 
Expenditures for long-lived assets278,707 (2)— 278,705 
v3.22.0.1
OTHER INCOME AND EXPENSE Other Income and Expense Level 3 (Tables)
 12 Months Ended
Dec. 31, 2021
Schedule of other nonoperating income (expense) [Line Items]  
Schedule of Other Nonoperating Income, by Component [Table Text Block]
The following table presents the components of IDACORP’s other income (expense), net and Idaho Power's other income (expense), net (in thousands of dollars):
IDACORP202120202019
Interest and dividend income, net$1,408 $3,813 $8,181 
Carrying charges on regulatory assets5,034 7,063 5,494 
Pension and postretirement non-service costs(1)
(15,249)(11,865)(10,976)
Income from life insurance investments5,203 4,036 4,104 
Other income (expense)463 462 (301)
Total other income (expense), net$(3,141)$3,509 $6,502 
Idaho Power
Interest and dividend income, net$1,241 $3,034 $5,898 
Carrying charges on regulatory assets5,034 7,063 5,494 
Pension and postretirement non-service costs(1)
(15,240)(11,862)(10,976)
Income from life insurance investments5,203 4,036 4,104 
Other income (expense) 591 468 (303)
Total other income (expense), net$(3,171)$2,739 $4,217 
(1) The 2021 pension and postretirement non-service costs includes $4.7 million of expense for a temporary deviation from the cost-sharing provisions of the substantive postretirement plan as described in Note 12 - "Benefit Plans."
v3.22.0.1
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)
 12 Months Ended
Dec. 31, 2021
Statement of Comprehensive Income [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) The table below presents changes in components of accumulated other comprehensive income (AOCI), net of tax, during the years ended December 31, 2021, 2020, and 2019 (in thousands of dollars). Items in parentheses indicate reductions to AOCI.
Year Ended December 31,
202120202019
Defined benefit pension items
Balance at beginning of period$(43,358)$(36,284)$(22,844)
Other comprehensive income before reclassifications, net of tax of $(8), $(3,488), and $(5,335)
(25)(10,062)(15,392)
Amounts reclassified out of AOCI to net income, net of tax of $1,158, $1,036, and $677
3,343 2,988 1,952 
Net current-period other comprehensive income3,318 (7,074)(13,440)
Balance at end of period$(40,040)$(43,358)$(36,284)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
The table below presents the effects on net income of amounts reclassified out of components of AOCI and the income statement location of those amounts reclassified during the years ended December 31, 2021, 2020, and 2019 (in thousands of dollars). Items in parentheses indicate increases to net income.
Amount Reclassified from AOCI
Year Ended December 31,
202120202019
Amortization of defined benefit pension items(1)
Prior service cost$296 $290 $96 
Net loss4,205 3,734 2,533 
Total before tax4,501 4,024 2,629 
Tax benefit(2)
(1,158)(1,036)(677)
Net of tax3,343 2,988 1,952 
Total reclassification for the period$3,343 $2,988 $1,952 
(1) Amortization of these items is included in "Other (income) expense, net" in the consolidated income statements of both IDACORP and Idaho Power.
(2) The tax benefit is included in "Income tax expense" in the consolidated income statements of both IDACORP and Idaho Power.
v3.22.0.1
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Tables)
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
Condensed Income Statement
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
 Year Ended December 31,
 202120202019
 (thousands of dollars)
Income:  
Equity in income of subsidiaries$245,591 $237,233 $231,534 
Investment income148 748 2,214 
Total income245,739 237,981 233,748 
Expenses:   
Operating expenses679 692 816 
Interest expense82 534 831 
Other expenses192 145 30 
Total expenses953 1,371 1,677 
Income Before Income Taxes244,786 236,610 232,071 
Income Tax Benefit(764)(807)(783)
Net Income Attributable to IDACORP, Inc.245,550 237,417 232,854 
Other comprehensive (loss) income3,318 (7,074)(13,440)
Comprehensive Income Attributable to IDACORP, Inc.$248,868 $230,343 $219,414 
The accompanying note is an integral part of these statements.
Condensed Cash Flow Statement
IDACORP, INC.
CONDENSED STATEMENTS OF CASH FLOWS
 Year Ended December 31,
 202120202019
 (thousands of dollars)
Operating Activities:   
Net cash provided by operating activities$174,209 $168,699 $112,745 
Investing Activities:   
Purchase of short-term investments(26,363)(25,000)— 
Maturities of short-term investments50,000 — — 
Net cash provided by (used in) investing activities23,637 (25,000)— 
Financing Activities:   
Dividends on common stock(146,119)(137,856)(129,682)
Change in intercompany notes payable(2,167)(9,732)37,588 
Other(3,124)(4,663)(4,410)
Net cash used in financing activities(151,410)(152,251)(96,504)
Net increase (decrease) in cash and cash equivalents46,436 (8,552)16,241 
Cash and cash equivalents at beginning of year106,589 115,141 98,900 
Cash and cash equivalents at end of year$153,025 $106,589 $115,141 
The accompanying note is an integral part of these statements.
Condensed Balance Sheet
IDACORP, INC.
CONDENSED BALANCE SHEETS
 December 31,
 20212020
Assets(thousands of dollars)
Current Assets:  
Cash and cash equivalents$153,025 $106,589 
Short-term investments— 25,000 
Receivables2,050 1,604 
Other102 107 
Total current assets155,177 133,300 
Investments2,570,150 2,468,955 
Other Assets: 
Deferred income taxes5,004 23,859 
Other299 312 
Total other assets5,303 24,171 
Total assets$2,730,630 $2,626,426 
Liabilities and Shareholders’ Equity 
Current Liabilities: 
Taxes accrued$850 $2,745 
Other777 928 
Total current liabilities1,627 3,673 
Other Liabilities: 
Intercompany notes payable59,928 62,049 
Other639 724 
Total other liabilities60,567 62,773 
IDACORP, Inc. Shareholders’ Equity2,668,436 2,559,980 
Total Liabilities and Shareholders' Equity$2,730,630 $2,626,426 
The accompanying note is an integral part of these statements.
v3.22.0.1
Schedule II - Consolidated Valuation and Qualifying Accounts (Tables)
 12 Months Ended
Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]  
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]
IDACORP, INC. AND IDAHO POWER COMPANY
SCHEDULE II - CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS
Years Ended December 31, 2021, 2020, and 2019
 
  Additions  
   Charged  
 Balance atCharged(Credited) Balance at
 Beginningtoto OtherEnd
Classificationof YearIncomeAccounts
Deductions(1)
of Year
 (thousands of dollars)
2021:
Reserve for uncollectible accounts$5,263 $2,083 $640 $2,970 $5,016 
Injuries and damages2,484 2,032 — 736 3,780 
2020:     
Reserve for uncollectible accounts$1,744 $5,239 $438 $2,158 $5,263 
Injuries and damages1,748 1,203 — 467 2,484 
2019:     
Reserve for uncollectible accounts$1,989 $2,381 $227 $2,853 $1,744 
Injuries and damages1,877 390 — 519 1,748 
(1) Represents deductions from the reserves for purposes for which the reserves were created. In the case of uncollectible accounts, and notes reserves, includes reversals of amounts previously reserved.
v3.22.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Summary of Significant Accounting Policies Level 4 (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Significant Accounting Policies      
Payments for (Proceeds from) Other Investing Activities $ (2,037) $ (6,335) $ (4,274)
Other assets, noncurrent 59,222 58,515  
Utility plant in service - net $ 4,210,365 4,089,959  
Maturity period of short-term investments 90 days    
Late Payment Fee Customer Billings 1.00%    
Impairment of Receivables $ 0 $ 0  
Public Utilities, Property, Plant and Equipment, Disclosure of Composite Depreciation Rate for Plants in Service 2.85% 2.88% 2.90%
Impairment of Long-Lived Assets Held-for-use $ 0 $ 0 $ 0
Public Utilities, Allowance for Funds Used During Construction, Rate 7.50% 7.50% 7.60%
Other Nonoperating Income (Expense) $ (3,141) $ 3,509 $ 6,502
Other electric utility operating expenses 34,673 35,914 35,995
Other property, net of accumulated depreciation $ 16,361 18,290  
Period of Time After Which Unpaid Accounts Are Deemed Late 30 days    
Marysville Hydro Partners      
Significant Accounting Policies      
Variable Interest Entity Ownership Percentage of Partner 50.00%    
Utility plant in service - net $ 16,000    
Variable interest entity consolidated intercompany long term debt $ 2,300    
Ida-West Energy      
Significant Accounting Policies      
Jointly Owned Utility Plant, Proportionate Ownership Share 50.00%    
Bridger Coal Company      
Significant Accounting Policies      
Investments and Other Property $ 22,700    
IERCo guarantee of BCC reclamation obligation 154,700    
Idaho Power Company      
Significant Accounting Policies      
Payments for (Proceeds from) Other Investing Activities (2,231) (6,305) (4,117)
Other assets, noncurrent 54,564 53,988  
Utility plant in service - net 4,210,365 4,089,959  
Investments and Other Property 77,108 87,848  
IERCo guarantee of BCC reclamation obligation 51,600    
Other Nonoperating Income (Expense) (3,171) 2,739 4,217
Other electric utility operating expenses 34,673 35,914 $ 35,995
Other property, net of accumulated depreciation $ 3,647 $ 5,123  
IDACORP Financial Services Limited Partnership Interests      
Significant Accounting Policies      
Variable interest entities ownership percentage minimum 2.00%    
Variable interest entities ownership percentage maximum 100.00%    
IDACORP Financial Services Limited Partnership Interests | Variable Interest Entity, Primary Beneficiary [Member]      
Significant Accounting Policies      
Net Assets $ 35,000    
v3.22.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Rollforward of the allowance for uncollectible accounts related to customer receivables (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]    
Balance at beginning of period $ 4,766 $ 1,401
Additions to the allowance 2,017 5,222
Write-offs, net of recoveries (2,284) (1,857)
Balance at end of period $ 4,499 $ 4,766
Allowance for uncollectible accounts as a percentage of customer receivables 5.40% 6.10%
v3.22.0.1
INCOME TAXES: Income Tax Expense Benefit Continuing Operations Income Tax Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Federal income tax expense at statutory rate $ 59,317 $ 55,885 $ 54,046
AFUDC (9,141) (8,637) (7,941)
Capitalized interest 1,077 1,044 976
Investment tax credits (2,866) (2,906) (6,252)
Removal costs (3,302) (3,148) (3,139)
Capitalized overhead costs (8,190) (7,560) (7,140)
Capitalized repair costs (17,430) (18,480) (18,480)
Bond redemption costs 0 (726) 0
State income taxes, net of federal benefit 11,359 8,804 8,627
Depreciation 14,233 13,589 14,641
Excess deferred income tax reversal (8,958) (4,885) (6,181)
Income tax return adjustments 3,169 (2,552) 745
Affordable housing tax credits (6,245) (5,315) (2,874)
Affordable housing investment distributions (1,010) (13) (3,232)
Affordable housing investment amortization 4,095 3,754 1,825
Other, net 804 (154) (1,114)
Total income tax expense $ 36,912 $ 28,700 $ 24,507
Effective tax rate 13.10% 10.80% 9.50%
Idaho Power Company      
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation      
Federal income tax expense at statutory rate $ 59,111 $ 55,394 $ 53,099
AFUDC (9,141) (8,637) (7,941)
Capitalized interest 1,077 1,044 976
Investment tax credits (2,866) (2,906) (6,252)
Removal costs (3,302) (3,148) (3,139)
Capitalized overhead costs (8,190) (7,560) (7,140)
Capitalized repair costs (17,430) (18,480) (18,480)
Bond redemption costs 0 (726) 0
State income taxes, net of federal benefit 11,633 9,052 8,401
Depreciation 14,233 13,589 14,641
Excess deferred income tax reversal (8,958) (4,885) (6,181)
Income tax return adjustments 1,759 (2,508) 993
Affordable housing tax credits 0 0 0
Affordable housing investment distributions 0 0 0
Affordable housing investment amortization 0 0 0
Other, net 331 319 (560)
Total income tax expense $ 38,257 $ 30,548 $ 28,417
Effective tax rate 13.60% 11.60% 11.20%
v3.22.0.1
INCOME TAXES: Components of Income Tax Expense (Benefit), Continuing Operations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income taxes current:      
Federal $ 15,210 $ 7,800 $ 8,830
State 6,630 3,215 4,865
Total 21,840 11,015 13,695
Income taxes deferred:      
Federal (1,787) 11,543 9,486
State 1,154 (1,414) 1,159
Total (633) 10,129 10,645
Investment tax credits:      
Deferred 14,698 5,727 8,268
Restored (2,866) (2,906) (6,252)
Total 11,832 2,821 2,016
Affordable housing investments 3,873 4,735 (1,849)
Total income tax expense 36,912 28,700 24,507
Idaho Power Company      
Income taxes current:      
Federal 40,525 30,464 25,338
State 12,932 6,409 (4,392)
Total 53,457 36,873 20,946
Income taxes deferred:      
Federal (21,737) (4,905) (4,599)
State (5,295) (4,241) 10,054
Total (27,032) (9,146) 5,455
Investment tax credits:      
Deferred 14,698 5,727 8,268
Restored (2,866) (2,906) (6,252)
Total 11,832 2,821 2,016
Affordable housing investments 0 0 0
Total income tax expense $ 38,257 $ 30,548 $ 28,417
v3.22.0.1
INCOME TAXES: Components of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Deferred tax assets:    
Regulatory liabilities $ 96,880 $ 95,883
Deferred compensation 23,333 22,576
Deferred revenue 48,318 43,525
Tax credits 41,896 61,707
Partnership investments 12,265 10,189
Retirement benefits 110,997 142,864
Other 17,066 15,005
Total 350,755 391,749
Deferred tax liabilities:    
Property, plant and equipment 272,530 282,983
Regulatory assets 721,276 687,628
Partnership investments 2,824 3,257
Retirement benefits 138,154 164,399
Other 58,346 53,733
Total 1,193,130 1,192,000
Net deferred tax liabilities 842,375 800,251
Idaho Power Company    
Deferred tax assets:    
Regulatory liabilities 96,880 95,883
Deferred compensation 23,333 22,576
Deferred revenue 48,318 43,525
Tax credits 35,781 30,215
Partnership investments 11,949 7,211
Retirement benefits 110,997 142,864
Other 16,893 14,792
Total 344,151 357,066
Deferred tax liabilities:    
Property, plant and equipment 272,530 282,983
Regulatory assets 721,276 687,628
Partnership investments 0 0
Retirement benefits 138,154 164,399
Other 57,062 51,202
Total 1,189,022 1,186,212
Net deferred tax liabilities $ 844,871 $ 829,146
v3.22.0.1
INCOME TAXES: Income Taxes Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Tax Disclosures      
Unrecognized Tax Benefits $ 0.0 $ 0.0 $ 0.0
IDACORP | Investment Tax Credit Carryforward      
Income Tax Disclosures      
Additional ADITC amortization available for use $ 41.9    
v3.22.0.1
REGULATORY MATTERS: Regulatory Assets and Liabilities Table (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets $ 1,533,654 $ 1,558,895
Regulatory Liabilities 792,934 768,834
Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1] 397,987  
Regulatory Liabilities [1] 316,755  
Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets 1,135,667  
Regulatory Liabilities 476,179  
Income taxes    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [2] 96,880 95,883
Income taxes | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[2] 0  
Income taxes | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [2] 96,880  
Depreciation-related excess deferred income taxes    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [3] 170,039 178,997
Depreciation-related excess deferred income taxes | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[3] 170,039  
Depreciation-related excess deferred income taxes | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [3] 0  
Removal costs    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [4] 184,670 182,334
Removal costs | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[4] 0  
Removal costs | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [4] 184,670  
Investment tax credits    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities 109,460 97,627
Investment tax credits | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1] 0  
Investment tax credits | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities 109,460  
Deferred revenue-AFUDC    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [5] 187,717 169,095
Deferred revenue-AFUDC | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[5] 141,450  
Deferred revenue-AFUDC | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [5] 46,267  
Power supply costs    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [6] 0 15,009
Power supply costs | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[6] 0  
Power supply costs | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [6] 0  
Settlement agreement sharing mechanism    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [6] 569 0
Settlement agreement sharing mechanism | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[6] 569  
Settlement agreement sharing mechanism | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [6] 0  
Other regulatory assets (liabilities)    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities 10,496 11,001
Other regulatory assets (liabilities) | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1] 4,697  
Other regulatory assets (liabilities) | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities 5,799  
Tax reform accrual for future amortization [Member]    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [7] 24,522 16,893
Tax reform accrual for future amortization [Member] | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1],[7] 0  
Tax reform accrual for future amortization [Member] | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [7] 24,522  
Derivative    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities 8,581 1,995
Derivative | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities [1] 0  
Derivative | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Liabilities 8,581  
Income taxes    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [8] 721,276 687,628
Income taxes | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[8] 0  
Income taxes | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [8] 721,276  
Unfunded postretirement benefits    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [9] 315,011 444,470
Unfunded postretirement benefits | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[9] 0  
Unfunded postretirement benefits | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [9] 315,011  
Pension expense deferrals    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [10] 234,437 200,686
Pension expense deferrals | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[10] 197,623  
Pension expense deferrals | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [10] 36,814  
Energy efficiency regulatory asset    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [11] 7,622 13,225
Energy efficiency regulatory asset | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[11] 7,622  
Energy efficiency regulatory asset | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [11] 0  
Power supply costs    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 33,529 0
Power supply costs | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[6] 42,940  
Power supply costs | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] (9,411)  
Fixed cost adjustment    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 54,944 55,491
Fixed cost adjustment | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[6] 35,058  
Fixed cost adjustment | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 19,886  
Valmy Plant settlements    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 97,852 103,085
Valmy Plant settlements | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[6] 97,852  
Valmy Plant settlements | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 0  
Asset retirement obligation    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [4] 22,585 19,035
Asset retirement obligation | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[4] 0  
Asset retirement obligation | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [4] 22,585  
Wildfire Mitigation Plan Deferral    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 6,075 0
Wildfire Mitigation Plan Deferral | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1],[6] 0  
Wildfire Mitigation Plan Deferral | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [6] 6,075  
Long-term service agreement    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets 23,273 24,431
Long-term service agreement | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1] 14,046  
Long-term service agreement | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets 9,227  
Other regulatory assets (liabilities)    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets 17,050 $ 10,844
Other regulatory assets (liabilities) | Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets [1] 2,846  
Other regulatory assets (liabilities) | Not Earning a Return    
Regulatory Assets and Liabilities [Line Items]    
Regulatory Assets $ 14,204  
[1] Earning a return includes either interest or a return on the investment as a component of rate base at the allowed rate of return.
[2] Represents the tax gross-up related to the depreciation-related excess deferred income taxes and investment tax credits included in this table and has a corresponding deferred tax asset disclosed in Note 2 - "Income Taxes."
[3] In 2017, income tax reform reduced deferred income tax assets and liabilities. For depreciation-related temporary differences under the normalized tax accounting method, the resulting excess deferred taxes will flow back to customers ratably over the remaining regulatory lives of Idaho Power's plant assets under the alternative method provided in the statute. The average rate assumption method was used to compute this reversal for fiscal years 2018-2020.
[4] Asset retirement obligations and removal costs are discussed in Note 14 - "Asset Retirement Obligations (ARO)."
[5] Idaho Power is collecting revenue in the Idaho jurisdiction for AFUDC on HCC relicensing costs but is deferring revenue recognition of the amounts collected until the license is issued and the asset is placed in service under the new license.
[6] This item is discussed in more detail in this Note 3 - "Regulatory Matters."
[7] Represents amount accrued under the May 2018 Idaho Tax Reform Settlement Stipulation (described below) for the future amortization of existing or future unspecified regulatory deferrals that would otherwise be a future liability recoverable from Idaho customers.
[8] Represents flow-through income tax accounting differences which have a corresponding deferred tax liability disclosed in Note 2 - "Income Taxes."
[9] Represents the unfunded obligation of Idaho Power’s pension and postretirement benefit plans, which are discussed in Note 12 - "Benefit Plans."
[10] Idaho Power records a regulatory asset for the difference between net periodic pension cost and pension cost considered for rate-making purposes relating to Idaho Power's defined benefit pension plan. In its Idaho jurisdiction, Idaho Power’s inclusion of pension costs for the establishment of retail rates is based upon contributions made to the pension plan. This regulatory asset account represents the difference between cumulative cash contributions and amounts collected in rates. Deferred costs are amortized into expense as the amounts are provided for in Idaho retail revenues.
[11] The energy efficiency asset includes both the Idaho and Oregon jurisdiction balances at December 31, 2021 and 2020.
v3.22.0.1
REGULATORY MATTERS: Idaho Jurisdiction Power Cost Adjustment Mechanism (Details) - USD ($)
$ in Thousands
Jun. 01, 2020
Jun. 01, 2019
Jun. 01, 2018
Dec. 31, 2021
Dec. 31, 2020
Idaho Power Cost Adjustment Mechanism [Line Items]          
Regulatory Liabilities       $ 792,934 $ 768,834
Idaho Power Cost Adjustment          
Idaho Power Cost Adjustment Mechanism [Line Items]          
Percentage to be Shared with Customers       95.00%  
Percentage to be Shared with Entity       5.00%  
Approved Rate Increase (Decrease), Amount $ 39,100 $ 58,700 $ (50,100)    
May 2018 Tax Reform Settlement Stipulation | Idaho Power Cost Adjustment          
Idaho Power Cost Adjustment Mechanism [Line Items]          
Regulatory Liabilities   2,700      
October 2014 Idaho Settlement Stipulation | Idaho Power Cost Adjustment          
Idaho Power Cost Adjustment Mechanism [Line Items]          
Regulatory Liabilities   $ 5,000      
v3.22.0.1
REGULATORY MATTERS: Idaho Base Rate Changes (Details) - USD ($)
$ in Thousands
Jun. 01, 2019
Jun. 01, 2017
Jul. 01, 2012
Jan. 01, 2012
Dec. 31, 2021
Dec. 31, 2020
Idaho Base Rate Changes [Line Items]            
Regulatory Liabilities         $ 792,934 $ 768,834
2011 Idaho General Rate Case Settlement            
Idaho Base Rate Changes [Line Items]            
Authorized Rate of Return in Rate Case       7.86%    
Total Retail Rate Base       $ 2,360,000    
Approved Rate Increase (Decrease), Percentage       4.07%    
Approved Rate Increase (Decrease), Amount       $ 34,000    
IDAHO | Base rate adjustment request for potential Valmy closure [Member] [Member]            
Idaho Base Rate Changes [Line Items]            
Approved Rate Increase (Decrease), Amount $ 1,200 $ 13,300        
IDAHO | 2011 Idaho General Rate Case Settlement            
Idaho Base Rate Changes [Line Items]            
Approved Rate Increase (Decrease), Amount     $ 58,100      
Increase (Decrease) In Rate Base     $ 335,900      
v3.22.0.1
REGULATORY MATTERS: Idaho Settlement Stipulation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
May 31, 2019
Jun. 30, 2021
Dec. 31, 2020
Apr. 30, 2018
Oct. 31, 2014
Idaho Settlement Stipulation [Line Items]            
Regulatory Liabilities $ 792,934     $ 768,834    
October 2014 Idaho Settlement Stipulation            
Idaho Settlement Stipulation [Line Items]            
Investment Tax Credits, Maximum, in Rate Case           $ 45,000
May 2018 Tax Reform Settlement Stipulation            
Idaho Settlement Stipulation [Line Items]            
Authorized Return on Equity in Rate Case, Minimum       9.40%    
Authorized Return on Equity in Rate Case, Mid-point 10.00%     10.00%    
Investment Tax Credits, Maximum, in Rate Case $ 45,000          
Tax Adjustments, Settlements, and Unusual Provisions 600          
Settlement agreement sharing mechanism            
Idaho Settlement Stipulation [Line Items]            
Regulatory Liabilities [1] 569     $ 0    
IDAHO | Wildfire mitigation plan costs            
Idaho Settlement Stipulation [Line Items]            
Requested deferral of costs $ 6,100          
IDAHO | Wildfire mitigation plan costs | Plant in service            
Idaho Settlement Stipulation [Line Items]            
Requested deferral of costs     $ 35,000      
IDAHO | Wildfire mitigation plan costs | Other Operating and Maintenance Expenses            
Idaho Settlement Stipulation [Line Items]            
Requested deferral of costs     $ 47,000      
IDAHO | October 2014 Idaho Settlement Stipulation            
Idaho Settlement Stipulation [Line Items]            
Authorized Return on Equity in Rate Case, Minimum           9.50%
Authorized Return on Equity in Rate Case, Mid-point           10.00%
Authorized Return on Equity in Rate Case, Maximum           10.50%
Investment Tax Credits Maximum In One Year In Rate Case           $ 25,000
Investment Tax Credits, Maximum, in Rate Case           $ 45,000
Percentage to be Shared with Customers           75.00%
Percentage to be Shared with Entity           25.00%
Percent To Be Shared With Customers, Power Cost Adjustment           50.00%
Percent To Be Shared With Customers, Pension Balancing           25.00%
Percentage of target ROE, minimum           95.00%
Percentage of target ROE, maximum           105.00%
IDAHO | May 2018 Tax Reform Settlement Stipulation            
Idaho Settlement Stipulation [Line Items]            
Authorized Return on Equity in Rate Case, Minimum         9.40%  
Authorized Return on Equity in Rate Case, Mid-point         10.00%  
Authorized Return on Equity in Rate Case, Maximum         10.50%  
Investment Tax Credits Maximum In One Year In Rate Case         $ 25,000  
Investment Tax Credits, Maximum, in Rate Case         $ 45,000  
Percentage to be Shared with Customers         80.00%  
Percentage to be Shared with Entity         20.00%  
Percent To Be Shared With Customers, Power Cost Adjustment         55.00%  
Percent To Be Shared With Customers, Pension Balancing         25.00%  
Percentage of target ROE, minimum         95.00%  
Percentage of target ROE, maximum         105.00%  
Amortization of Regulatory Asset   $ 7,400        
Annual recurring | IDAHO | May 2018 Tax Reform Settlement Stipulation            
Idaho Settlement Stipulation [Line Items]            
Public Utilities, Approved Rate Increase (Decrease), Amount   $ 18,700        
[1] This item is discussed in more detail in this Note 3 - "Regulatory Matters."
v3.22.0.1
REGULATORY MATTERS: Idaho Fixed Cost Adjustment (Details) - USD ($)
$ in Millions
Jun. 01, 2021
Jun. 01, 2020
Jun. 01, 2019
Idaho Fixed Cost Adjustment [Line Items]      
Annual fixed cost adjustment mechanism deferral $ 38.3 $ 35.5 $ 34.8
Idaho fixed cost adjustment mechanism      
Idaho Fixed Cost Adjustment [Line Items]      
Percentage cap on the FCA adjustment     3.00%
v3.22.0.1
REGULATORY MATTERS: Regulatory Requests (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 01, 2022
May 01, 2020
Jun. 01, 2019
Jul. 01, 2017
Jun. 01, 2017
May 31, 2020
May 31, 2019
Dec. 31, 2021
Dec. 31, 2020
Public Utilities, General Disclosures [Line Items]                  
Regulatory Liabilities               $ 792,934 $ 768,834
May 2018 Tax Reform Settlement Stipulation | IDAHO                  
Public Utilities, General Disclosures [Line Items]                  
Amortization of Regulatory Asset             $ 7,400    
Idaho and Oregon Rate Adjustment Request for Potential Valmy Closure | OREGON                  
Public Utilities, General Disclosures [Line Items]                  
Approved Rate Increase (Decrease), Amount       $ 1,100          
Idaho and Oregon Rate Adjustment Request for Potential Valmy Closure | IDAHO                  
Public Utilities, General Disclosures [Line Items]                  
Approved Rate Increase (Decrease), Amount     $ 1,200   $ 13,300        
Subsequent Event [Member] | IDAHO | Jim Bridger Plant                  
Public Utilities, General Disclosures [Line Items]                  
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount $ 27,100                
Public Utilities, Requested Rate Increase (Decrease), Amended, Percentage 2.12%                
Annual recurring | May 2018 Tax Reform Settlement Stipulation | OREGON                  
Public Utilities, General Disclosures [Line Items]                  
Approved Rate Increase (Decrease), Amount   $ (1,500)       $ (1,500)      
Annual recurring | May 2018 Tax Reform Settlement Stipulation | IDAHO                  
Public Utilities, General Disclosures [Line Items]                  
Approved Rate Increase (Decrease), Amount             $ (18,700)    
v3.22.0.1
REGULATORY MATTERS: Oregon Base Rate Changes (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
May 01, 2020
Jan. 01, 2020
Jul. 01, 2017
Oct. 01, 2012
Mar. 01, 2012
Oct. 31, 2020
May 31, 2020
May 31, 2019
Oregon Base Rate Changes                
Oregon Base Rate Changes [Line Items]                
Approved Rate Increase (Decrease), Amount         $ 1.8      
Approved Return on Equity, Percentage         9.90%      
Authorized Rate of Return in Rate Case         7.757%      
OREGON | Base rate adjustment request for potential Valmy closure [Member] [Member]                
Oregon Base Rate Changes [Line Items]                
Approved Rate Increase (Decrease), Amount     $ 1.1          
OREGON | Oregon Base Rate Changes                
Oregon Base Rate Changes [Line Items]                
Approved Rate Increase (Decrease), Amount       $ 3.0   $ 0.4    
Annual recurring | OREGON | Valmy Plant                
Oregon Base Rate Changes [Line Items]                
Approved Rate Increase (Decrease), Amount   $ (3.2)           $ 2.5
Annual recurring | OREGON | May 2018 Tax Reform Settlement Stipulation                
Oregon Base Rate Changes [Line Items]                
Approved Rate Increase (Decrease), Amount $ (1.5)           $ (1.5)  
v3.22.0.1
REGULATORY MATTERS: Open Access Transmission Tariff Rates (Details) - Federal Open Access Transmission Tariff Rates - USD ($)
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2018
Open Access Transmission Tariff Rates [Line Items]        
Open Access Transmission Tariff Rate $ 31.19 $ 29.95 $ 27.32 $ 31.25
Net Annual Transmission Revenue Requirement $ 127,300,000      
v3.22.0.1
REVENUES: Electric utility operating revenues (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenue from contracts with customers $ 1,382,653 $ 1,286,637 $ 1,285,286
Alternative revenue programs and other revenues 72,757 60,703 57,654
Electric utility revenues 1,455,410 1,347,340 1,342,940
Regulatory Assets 1,533,654 1,558,895  
Retail revenues      
Revenue from contracts with customers 1,252,335 1,167,730 1,130,611
Idaho fixed cost adjustment mechanism      
Revenue from contracts with customers [1] (36,242) (35,952) (36,923)
Alternative revenue programs and other revenues 36,242 35,952 36,923
Residential Retail Revenue | Retail revenues      
Revenue from contracts with customers 583,061 547,404 526,966
Residential Retail Revenue | Idaho fixed cost adjustment mechanism      
Revenue from contracts with customers 34,835 34,409 35,587
Commercial Retail Revenue | Retail revenues      
Revenue from contracts with customers 314,745 293,057 295,203
Commercial Retail Revenue | Idaho fixed cost adjustment mechanism      
Revenue from contracts with customers $ 1,407 $ 1,543 $ 1,336
[1] The FCA mechanism is an alternative revenue program in the Idaho jurisdiction and does not represent revenue from contracts with customers.
v3.22.0.1
REVENUES: Disaggregation of Revenue (Details) - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Jan. 01, 2021
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers $ 1,382,653,000 $ 1,286,637,000 $ 1,285,286,000  
Regulatory Liabilities 792,934,000 768,834,000    
Regulatory Assets 1,533,654,000 $ 1,558,895,000    
Energy efficiency Rider collection percentage   2.75%   3.10%
Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 1,252,335,000 $ 1,167,730,000 1,130,611,000  
Idaho fixed cost adjustment mechanism        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers [1] (36,242,000) (35,952,000) (36,923,000)  
Wholesale energy sales        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 40,839,000 33,656,000 71,198,000  
Transmission services (wheeling)        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 67,997,000 51,592,000 53,828,000  
Energy efficiency program revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 29,920,000 42,478,000 40,128,000  
Other revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 27,804,000 27,133,000 26,444,000  
Residential Retail Revenue | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 583,061,000 547,404,000 526,966,000  
Residential Retail Revenue | Idaho fixed cost adjustment mechanism        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 34,835,000 34,409,000 35,587,000  
Commercial Retail Revenue | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 314,745,000 293,057,000 295,203,000  
Commercial Retail Revenue | Idaho fixed cost adjustment mechanism        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 1,407,000 1,543,000 1,336,000  
Industrial Retail Revenue | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 195,214,000 181,258,000 181,372,000  
Irrigation Retail Revenue | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 168,664,000 154,791,000 135,850,000  
Settlement agreement sharing mechanism | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers (569,000) 0 0  
Deferred revenue-AFUDC | Retail revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers [2] (8,780,000) (8,780,000) $ (8,780,000)  
IPUC authorized AFUDC Collection HCC Relicensing - Gross | Idaho Power Company | Hells Canyon Complex        
Disaggregation of Revenue [Line Items]        
Regulatory Liabilities 8,800,000      
Energy efficiency regulatory asset        
Disaggregation of Revenue [Line Items]        
Regulatory Assets [3] 7,622,000 $ 13,225,000    
IDAHO | Energy efficiency regulatory asset        
Disaggregation of Revenue [Line Items]        
Regulatory Assets 6,900,000      
OREGON | Energy efficiency regulatory asset        
Disaggregation of Revenue [Line Items]        
Regulatory Assets $ 700,000      
[1] The FCA mechanism is an alternative revenue program in the Idaho jurisdiction and does not represent revenue from contracts with customers.
[2] he IPUC allows Idaho Power to recover a portion of the AFUDC on construction work in progress related to the 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 $8.8 million annually in the Idaho jurisdiction but is deferring revenue recognition of the amounts collected until the license is issued and the accumulated license costs approved for recovery are placed in service.
[3] The energy efficiency asset includes both the Idaho and Oregon jurisdiction balances at December 31, 2021 and 2020.
v3.22.0.1
REVENUES: Alternative Revenue Program and Other Revenues (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Alternative Revenue Program and Other Revenues [Line Items]      
Alternative revenue programs and other revenues $ 72,757 $ 60,703 $ 57,654
Idaho fixed cost adjustment mechanism      
Alternative Revenue Program and Other Revenues [Line Items]      
Alternative revenue programs and other revenues 36,242 35,952 36,923
Derivative revenues      
Alternative Revenue Program and Other Revenues [Line Items]      
Alternative revenue programs and other revenues $ 36,515 $ 24,751 $ 20,731
v3.22.0.1
REVENUES: Allowance for Uncollectible accounts receivable (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]      
Accounts Receivable, Allowance for Credit Loss $ 4,499 $ 4,766 $ 1,401
Additions to the allowance 2,017 5,222  
Write-offs, net of recoveries $ (2,284) $ (1,857)  
Allowance for uncollectible accounts as a percentage of customer receivables 5.40% 6.10%  
v3.22.0.1
LONG-TERM DEBT: Long-term Debt Level 4 (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Apr. 30, 2020
Debt Instrument [Line Items]      
Total first mortgage bonds $ 1,800,000 $ 1,800,000  
Pollution control revenue bonds Variable Rate Series 2000 due 2027 4,360 4,360  
Total pollution control revenue bonds 170,460 170,460  
American Falls bond guarantee 19,885 19,885  
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 10,295 10,069  
Total outstanding debt [1] 2,000,640 2,000,414  
Current maturities of long-term debt 0 0  
Long-Term Debt 2,000,640 2,000,414  
Idaho Power Company      
Debt Instrument [Line Items]      
Total outstanding debt $ 2,000,640 $ 2,000,414  
Effective cost of outstanding debt 4.40% 4.40%  
First Mortgage Bonds 2.50 Series due 2023      
Debt Instrument [Line Items]      
First mortgage bonds $ 75,000 $ 75,000  
Debt Instrument, Interest Rate, Stated Percentage 2.50% 2.50%  
First mortgage bonds 6.00 Series due 2032      
Debt Instrument [Line Items]      
First mortgage bonds $ 100,000 $ 100,000  
Debt Instrument, Interest Rate, Stated Percentage 6.00% 6.00%  
First mortgage bonds 5.50 Series due 2033      
Debt Instrument [Line Items]      
First mortgage bonds $ 70,000 $ 70,000  
Debt Instrument, Interest Rate, Stated Percentage 5.50% 5.50%  
First mortgage bonds 5.50 Series due 2034      
Debt Instrument [Line Items]      
First mortgage bonds $ 50,000 $ 50,000  
Debt Instrument, Interest Rate, Stated Percentage 5.50% 5.50%  
First mortgage bonds 5.875 Series due 2034      
Debt Instrument [Line Items]      
First mortgage bonds $ 55,000 $ 55,000  
Debt Instrument, Interest Rate, Stated Percentage 5.875% 5.875%  
First mortgage bonds 5.30 Series due 2035      
Debt Instrument [Line Items]      
First mortgage bonds $ 60,000 $ 60,000  
Debt Instrument, Interest Rate, Stated Percentage 5.30% 5.30%  
First mortgage bonds 6.30 Series due 2037      
Debt Instrument [Line Items]      
First mortgage bonds $ 140,000 $ 140,000  
Debt Instrument, Interest Rate, Stated Percentage 6.30% 6.30%  
First mortgage bonds 6.25 Series due 2037      
Debt Instrument [Line Items]      
First mortgage bonds $ 100,000 $ 100,000  
Debt Instrument, Interest Rate, Stated Percentage 6.25% 6.25%  
First mortgage bonds 4.85 Series due 2040      
Debt Instrument [Line Items]      
First mortgage bonds $ 100,000 $ 100,000  
Debt Instrument, Interest Rate, Stated Percentage 4.85% 4.85%  
First Mortgage Bonds 4.30 Series Due 2042      
Debt Instrument [Line Items]      
First mortgage bonds $ 75,000 $ 75,000  
Debt Instrument, Interest Rate, Stated Percentage 4.30% 4.30%  
First Mortgage Bonds 4.00 Series due 2043      
Debt Instrument [Line Items]      
First mortgage bonds $ 75,000 $ 75,000  
Debt Instrument, Interest Rate, Stated Percentage 4.00% 4.00%  
First mortgage bonds 3.65% Series due 2045      
Debt Instrument [Line Items]      
First mortgage bonds $ 250,000 $ 250,000  
Debt Instrument, Interest Rate, Stated Percentage 3.65% 3.65%  
First mortgage bonds 4.05 Series due 2046      
Debt Instrument [Line Items]      
First mortgage bonds $ 120,000 $ 120,000  
Debt Instrument, Interest Rate, Stated Percentage 4.05% 4.05%  
First Mortgage Bonds 4.20 K Series due 2048      
Debt Instrument [Line Items]      
First mortgage bonds $ 450,000 $ 450,000  
Debt Instrument, Interest Rate, Stated Percentage 4.20% 4.20% 4.20%
Debt Instrument, Interest Rate, Reoffer Yield     3.422%
Pollution Control Bonds 1.45 due 2024      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 1.45% 1.45%  
Pollution control revenue bonds 5.15 Series due 2024 [2] $ 49,800 $ 49,800  
Pollution Control Bond 1.70 due 2026      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 1.70% 1.70%  
Pollution control revenue bonds 5.25 Series due 2026 [2] $ 116,300 $ 116,300  
Secured debt including Humboldt County and Sweetwater County pollution control revenue bonds      
Debt Instrument [Line Items]      
Total first mortgage bonds 1,966,000    
First Mortgage Bonds 1.90 Series L Due July 15 2030      
Debt Instrument [Line Items]      
First mortgage bonds $ 80,000 $ 80,000  
Debt Instrument, Interest Rate, Stated Percentage 1.90% 1.90%  
[1] At both December 31, 2021 and 2020, the overall effective cost rate of Idaho Power's outstanding debt was 4.40 percent.
[2] Humboldt County and Sweetwater County Pollution Control Revenue Bonds are secured by the first mortgage bonds, bringing the total first mortgage bonds outstanding at December 31, 2021, to $1.966 billion
v3.22.0.1
LONG-TERM DEBT: Maturities of Long-term Debt Level 4 (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Apr. 30, 2020
Debt Instrument [Line Items]      
2022 $ 0    
2023 75,000    
2024 49,800    
2025 19,885    
2026 116,300    
Thereafter $ 1,729,360    
First Mortgage Bonds 2.50 Series due 2023      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 2.50% 2.50%  
First Mortgage Bonds 1.90 Series L Due July 15 2030      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 1.90% 1.90%  
First mortgage bonds 6.00 Series due 2032      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 6.00% 6.00%  
First mortgage bonds 5.50 Series due 2033      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 5.50% 5.50%  
First mortgage bonds 5.50 Series due 2034      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 5.50% 5.50%  
First mortgage bonds 5.875 Series due 2034      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 5.875% 5.875%  
First mortgage bonds 5.30 Series due 2035      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 5.30% 5.30%  
First mortgage bonds 6.30 Series due 2037      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 6.30% 6.30%  
First mortgage bonds 6.25 Series due 2037      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 6.25% 6.25%  
First mortgage bonds 4.85 Series due 2040      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 4.85% 4.85%  
First Mortgage Bonds 4.30 Series Due 2042      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 4.30% 4.30%  
First Mortgage Bonds 4.00 Series due 2043      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 4.00% 4.00%  
First mortgage bonds 3.65% Series due 2045      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 3.65% 3.65%  
First mortgage bonds 4.05 Series due 2046      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 4.05% 4.05%  
First Mortgage Bonds 4.20 K Series due 2048      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 4.20% 4.20% 4.20%
Pollution Control Bonds 1.45 due 2024      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 1.45% 1.45%  
Pollution Control Bond 1.70 due 2026      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 1.70% 1.70%  
v3.22.0.1
LONG-TERM DEBT: Long-term debt narrative Level 4 (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jul. 29, 2020
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Aug. 03, 2020
Aug. 01, 2020
Jun. 30, 2020
Jun. 05, 2020
Apr. 30, 2020
May 19, 2016
Debt Instrument [Line Items]                    
Make-Whole Premium   $ 0 $ 3,305 $ 0            
Repayments of Debt   0 175,000 166,100            
First Mortgage Bonds 4.20 K Series due 2048                    
Debt Instrument [Line Items]                    
First mortgage bonds   $ 450,000 $ 450,000              
Debt Instrument, Interest Rate, Stated Percentage   4.20% 4.20%           4.20%  
Debt Instrument, Interest Rate, Reoffer Yield                 3.422%  
First mortgage bonds 4.20% Series due 2046                    
Debt Instrument [Line Items]                    
First mortgage bonds   $ 120,000 $ 120,000              
Debt Instrument, Interest Rate, Stated Percentage   4.05% 4.05%              
Pollution Control Bonds 5.15 due 2024 [Member]                    
Debt Instrument [Line Items]                    
Debt Instrument, Interest Rate, Stated Percentage   1.45% 1.45%              
Pollution Control Bond 5.25 due 2026 [Member]                    
Debt Instrument [Line Items]                    
Debt Instrument, Interest Rate, Stated Percentage   1.70% 1.70%              
First Mortgage Bonds 1.90 Series L Due July 15 2030                    
Debt Instrument [Line Items]                    
First mortgage bonds   $ 80,000 $ 80,000              
Debt Instrument, Interest Rate, Stated Percentage   1.90% 1.90%              
Idaho Power Company                    
Debt Instrument [Line Items]                    
Make-Whole Premium   $ 0 $ 3,305 0            
Debt Instrument, Interest Rate, Effective Percentage   4.40% 4.40%              
Repayments of Debt   $ 0 $ 175,000 $ 166,100            
Debt instrument interest rate limit   7.00%                
Indenture, Unused Borrowing Capacity, Amount   $ 2,100,000                
Percent of Operating Revenues Required to be Spent or Appropriated   15.00%                
Time Period Expenditures or Appropriations can be Made Up   5 years                
Bonds issuable maximum amount ending   $ 2,500,000               $ 2,000,000
Earnings test does not apply to refunding bonds that mature in less than this period of time   2 years                
Indenture, Unused Borrowing Capacity available   $ 534,000                
Principal amount of debt securities and first mortgage bonds authorized   500,000                
Idaho Power Company | First mortgage bonds 3.40 Series due 2020                    
Debt Instrument [Line Items]                    
Debt Instrument, Repurchased Face Amount           $ 100,000        
Idaho Power Company | First Mortgage Bonds 2.95 Series Due 2022                    
Debt Instrument [Line Items]                    
Debt Instrument, Repurchased Face Amount $ 75,000                  
Idaho Power | First Mortgage Bonds 4.20 K Series due 2048                    
Debt Instrument [Line Items]                    
Debt Instrument, Face Amount   $ 450,000             $ 230,000  
debt instrument, Net Premium                 13.00%  
debt instrument, net proceeds                 $ 259,900  
Idaho Power | First Mortgage Bonds 1.90 L Series due 2030 [Domain]                    
Debt Instrument [Line Items]                    
Debt Instrument, Interest Rate, Stated Percentage             1.90%      
Debt Instrument, Face Amount             $ 80,000      
Idaho Power | First Mortgage Bonds 2.95 Series due 2022 [Domain]                    
Debt Instrument [Line Items]                    
Debt Instrument, Interest Rate, Stated Percentage 2.95%                  
Premium on Repayment on Debt $ 3,300                  
Idaho Power | First mortgage bonds 4.50 Series due 2020                    
Debt Instrument [Line Items]                    
Debt Instrument, Interest Rate, Stated Percentage         3.40%          
Idaho Power | Supplemental Indenture                    
Debt Instrument [Line Items]                    
Debt Instrument, Unused Borrowing Capacity, Amount               $ 500,000    
Idaho Power | Principal amount of debt securities in Selling Agreement                    
Debt Instrument [Line Items]                    
Debt Instrument, Unused Borrowing Capacity, Amount               $ 500,000    
v3.22.0.1
NOTES PAYABLE: Notes Payable Level 4 (Details)
 12 Months Ended
Dec. 31, 2021
USD ($)
Dec. 06, 2025
yr
Prime Rate    
Credit facility:    
Debt Instrument, Description of Variable Rate Basis prime rate  
Federal Funds Rate    
Credit facility:    
Debt Instrument, Description of Variable Rate Basis federal funds rate  
Debt Instrument, Basis Spread on Variable Rate 0.50%  
LIBOR Rate    
Credit facility:    
Debt Instrument, Description of Variable Rate Basis LIBOR) Market Index rate  
Debt Instrument, Basis Spread on Variable Rate 1.00%  
LIBOR rate floor 0.00%  
IDACORP    
Credit facility:    
Credit facility $ 100,000,000  
Swingline Loan, Maximum Principal Outstanding 10,000,000  
Letter of Credit, Maximum Borrowing Capacity 50,000,000  
Line of Credit Facility, Right to Increase Borrowing Capacity 150,000,000  
Amount outstanding on credit facility 0  
Idaho Power Company    
Credit facility:    
Credit facility 300,000,000  
Swingline Loan, Maximum Principal Outstanding 30,000,000  
Letter of Credit, Maximum Borrowing Capacity 50,000,000  
Line of Credit Facility, Right to Increase Borrowing Capacity 450,000,000  
Amount outstanding on credit facility 0  
Regulatory authority to incur short-term indebtedness $ 450,000,000  
Subsequent Event [Member]    
Credit facility:    
Number of extensions of credit agreement | yr   2
v3.22.0.1
COMMON STOCK: Common Stock, Number of Shares, Par Value and Other Disclosures (Details) - shares
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Class of Stock [Line Items]      
Common Stock, Shares, Issued 50,461,885 50,420,017 50,420,017
Shares issued during the year 54,594 41,868  
Common Stock, Shares, Issued 50,516,479 50,461,885 50,420,017
Shares granted (in shares) 76,147 75,030 70,419
Directors      
Class of Stock [Line Items]      
Shares granted (in shares) 14,025 10,296 9,594
Directors | 2000 Long-Term Incentive and Compensation Plan      
Class of Stock [Line Items]      
Shares granted (in shares) 12,784 8,938  
Continuous equity program (inactive)      
Class of Stock [Line Items]      
Shares issued during the year 0 0 0
Shares reserved for future issuance 3,000,000    
Dividend reinvestment and stock purchase plan      
Class of Stock [Line Items]      
Shares issued during the year 0 0 0
Shares reserved for future issuance 2,840,117    
Employee savings plan      
Class of Stock [Line Items]      
Shares issued during the year 0 0 0
Shares reserved for future issuance 3,567,954    
Long-term incentive and compensation plan      
Class of Stock [Line Items]      
Shares issued during the year 54,594 41,868 0
Shares reserved for future issuance 1,260,267    
Restricted stock plan | Directors      
Class of Stock [Line Items]      
Shares granted (in shares) 14,025    
v3.22.0.1
COMMON STOCK: Common Stock Narrative (Details)
$ in Billions
 12 Months Ended
Dec. 31, 2021
USD ($)
shares
Dec. 31, 2020
shares
Dec. 31, 2019
shares
Class of Stock [Line Items]      
Shares granted (in shares) 76,147 75,030 70,419
Shares issued during the year 54,594 41,868  
IDACORP      
Class of Stock [Line Items]      
Maximum leverage ratio requirement 0.65    
Leverage ratio 0.43    
Amount dividends were limited to based on covenant restrictions | $ $ 1.6    
Idaho Power Company      
Class of Stock [Line Items]      
Leverage ratio 0.45    
Amount dividends were limited to based on covenant restrictions | $ $ 1.4    
Percentage of capital threshold below which Idaho Power will not pay dividends to IDACORP 0.35    
Equity Capital Ratio 0.55    
Shares of preferred stock outstanding 0    
v3.22.0.1
SHARE-BASED COMPENSATION Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity (Details) - $ / shares
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]      
Shares granted (in shares) 76,147 75,030 70,419
Restricted stock plan | IDACORP      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]      
Nonvested shares, beginning (in shares) 157,035    
Shares granted (in shares) 96,345    
Shares forfeited (in shares) (2,210)    
Shares vested (in shares) (75,914)    
Nonvested shares, ending (in shares) 175,256 157,035  
Nonvested shares, period start - weighted average grant-date fair value (in dollars per share) $ 100.89    
Shares granted - weighted average grant-date fair value (in dollars per share) 87.76    
Shares forfeited - weighted average grant-date fair value (in dollars per share) 98.72    
Shares vested - weighted average grant-date fair value (in dollars per share) 87.24    
Nonvested shares, period end - weighted average grant-date fair value (in dollars per share) $ 99.61 $ 100.89  
Restricted stock plan | Idaho Power Company      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]      
Nonvested shares, beginning (in shares) 156,013    
Shares granted (in shares) 95,821    
Shares forfeited (in shares) (2,210)    
Shares vested (in shares) (75,415)    
Nonvested shares, ending (in shares) 174,209 156,013  
Nonvested shares, period start - weighted average grant-date fair value (in dollars per share) $ 100.90    
Shares granted - weighted average grant-date fair value (in dollars per share) 87.76    
Shares forfeited - weighted average grant-date fair value (in dollars per share) 98.72    
Shares vested - weighted average grant-date fair value (in dollars per share) 87.24    
Nonvested shares, period end - weighted average grant-date fair value (in dollars per share) $ 99.61 $ 100.90  
v3.22.0.1
SHARE-BASED COMPENSATION Schedule of Compensation Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
IDACORP      
Share-based Compensation Arrangement by Share-based Payment Award      
Compensation cost $ 8,583 $ 7,416 $ 8,788
Income tax benefit 2,209 1,909 2,262
Idaho Power Company      
Share-based Compensation Arrangement by Share-based Payment Award      
Compensation cost 8,497 7,339 8,639
Income tax benefit $ 2,187 $ 1,889 $ 2,224
v3.22.0.1
SHARE-BASED COMPENSATION Share-based Compensation Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award      
Equity compensation costs capitalized $ 0    
Shares granted (in shares) 76,147 75,030 70,419
Directors      
Share-based Compensation Arrangement by Share-based Payment Award      
Shares granted (in shares) 14,025 10,296 9,594
Restricted stock plan      
Share-based Compensation Arrangement by Share-based Payment Award      
Percent of target award, minimum 0.00%    
Percent of target award, maximum 200.00%    
Total fair value of shares vested (in shares) $ 6,700,000 $ 10,500,000 $ 9,400,000
Vesting period of restricted stock awards 3 years    
Restricted stock plan | Directors      
Share-based Compensation Arrangement by Share-based Payment Award      
Shares granted - weighted average grant-date fair value (in dollars per share) $ 86.24    
Deferred shares (in shares) 2,550    
Shares granted (in shares) 14,025    
Restricted stock plan | IDACORP      
Share-based Compensation Arrangement by Share-based Payment Award      
Unrecognized compensation cost $ 7,500,000    
Shares granted - weighted average grant-date fair value (in dollars per share) $ 87.76    
Shares granted (in shares) 96,345    
Period over which unrecognized compensation cost will be recognized (in years) 1 year 8 months 12 days    
Restricted stock plan | Idaho Power Company      
Share-based Compensation Arrangement by Share-based Payment Award      
Shares granted - weighted average grant-date fair value (in dollars per share) $ 87.76    
Shares granted (in shares) 95,821    
Share-based Payment Arrangement [Member]      
Share-based Compensation Arrangement by Share-based Payment Award      
Maximum shares outstanding (in shares) 443,663    
Long-term incentive and compensation plan      
Share-based Compensation Arrangement by Share-based Payment Award      
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 3 years    
v3.22.0.1
EARNINGS PER SHARE: Earnings Per Share Level 4 (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Numerator:      
Net income attributable to IDACORP, Inc. $ 245,550 $ 237,417 $ 232,854
Denominator:      
Weighted Average Common Shares Outstanding - Basic (in shares) 50,599 50,538 50,502
Effect of Dilutive Securities (in shares) 46 34 35
Weighted Average Common Shares Outstanding - Diluted (in shares) 50,645 50,572 50,537
Earnings Attributable to IDACORP, Inc. - Basic (in dollars per share) $ 4.85 $ 4.70 $ 4.61
Earnings Attributable to IDACORP, Inc. - Diluted (in dollars per share) $ 4.85 $ 4.69 $ 4.61
v3.22.0.1
COMMITMENTS: Commitments Level 4 (Details)
 12 Months Ended
Dec. 31, 2021
USD ($)
MWh
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2024
MWh
Long-term Purchase Commitment        
Purchased power $ 393,691,000 $ 297,417,000 $ 285,266,000  
Bridger Coal Company        
Long-term Purchase Commitment        
IERCo guarantee of BCC reclamation obligation 154,700,000      
Distributions from Reclamation Trust Fund 21,100,000      
Guarantor Obligations Total Reclamation Trust Fund $ 211,200,000      
Idaho Power Company        
Long-term Purchase Commitment        
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage 33.00%      
IERCo guarantee of BCC reclamation obligation $ 51,600,000      
Purchased power $ 393,691,000 297,417,000 285,266,000  
Idaho Power Company | CSPP on-line [Member]        
Long-term Purchase Commitment        
Nameplate Capacity (in MW) | MWh 1,137      
Idaho Power Company | Joint-operating agreement payment [Member]        
Long-term Purchase Commitment        
Purchase Obligation Estimated Due Current $ 2,822,000      
Purchase Obligation Estimated Future Payments Due In Two Years 2,822,000      
Purchase Obligation Estimated Future Payments Due In Three Years 2,822,000      
Purchase Obligation Estimated Future Payments Due In Four Years 2,822,000      
Purchase Obligation Estimated Future Payments Due In Five Years 2,822,000      
Purchase Obligation Estimated Future Payments Due In Six Years And Thereafter 14,110,000      
Idaho Power Company | Easements and Other payments [Member]        
Long-term Purchase Commitment        
Purchase Obligation Estimated Due Current 1,925,000      
Purchase Obligation Estimated Future Payments Due In Two Years 1,965,000      
Purchase Obligation Estimated Future Payments Due In Three Years 2,006,000      
Purchase Obligation Estimated Future Payments Due In Four Years 2,049,000      
Purchase Obligation Estimated Future Payments Due In Five Years 2,092,000      
Purchase Obligation Estimated Future Payments Due In Six Years And Thereafter 11,136,000      
Idaho Power Company | Other operations and maintenance        
Long-term Purchase Commitment        
Purchase Obligation Estimated Due Current 97,847,000      
Purchase Obligation Estimated Future Payments Due In Two Years 13,522,000      
Purchase Obligation Estimated Future Payments Due In Three Years 10,134,000      
Purchase Obligation Estimated Future Payments Due In Four Years 6,319,000      
Purchase Obligation Estimated Future Payments Due In Five Years 6,592,000      
Purchase Obligation Estimated Future Payments Due In Six Years And Thereafter 46,764,000      
Idaho Power Company | FERC and other industry-related fees        
Long-term Purchase Commitment        
Purchase Obligation Estimated Due Current 16,772,000      
Purchase Obligation Estimated Future Payments Due In Two Years 14,549,000      
Purchase Obligation Estimated Future Payments Due In Three Years 14,174,000      
Purchase Obligation Estimated Future Payments Due In Four Years 14,174,000      
Purchase Obligation Estimated Future Payments Due In Five Years 14,174,000      
Purchase Obligation Estimated Future Payments Due In Six Years And Thereafter 70,870,000      
Idaho Power Company | Cogeneration and power production        
Long-term Purchase Commitment        
Purchase Obligation Estimated Due Current 298,867,000      
Purchase Obligation Estimated Future Payments Due In Two Years 308,741,000      
Purchase Obligation Estimated Future Payments Due In Three Years 311,968,000      
Purchase Obligation Estimated Future Payments Due In Four Years 296,579,000      
Purchase Obligation Estimated Future Payments Due In Five Years 293,508,000      
Purchase Obligation Estimated Future Payments Due In Six Years And Thereafter 2,456,582,000      
Idaho Power Company | Fuel purchase commitments        
Long-term Purchase Commitment        
Purchase Obligation Estimated Due Current 62,287,000      
Purchase Obligation Estimated Future Payments Due In Two Years 19,328,000      
Purchase Obligation Estimated Future Payments Due In Three Years 8,663,000      
Purchase Obligation Estimated Future Payments Due In Four Years 8,362,000      
Purchase Obligation Estimated Future Payments Due In Five Years 8,354,000      
Purchase Obligation Estimated Future Payments Due In Six Years And Thereafter 58,355,000      
Idaho Power Company | Cogeneration And Power Production Purchase Commitment Member        
Long-term Purchase Commitment        
Purchased power $ 200,000,000 $ 194,000,000 $ 187,000,000  
Idaho Power Company | Cogeneration And Power Production Purchase Commitment Member | Maximum        
Long-term Purchase Commitment        
Long-term Purchase Commitment, Period 35 years      
Idaho Power Company | Cogeneration And Power Production Purchase Commitment Member | Minimum        
Long-term Purchase Commitment        
Long-term Purchase Commitment, Period 1 year      
IDACORP [Member]        
Long-term Purchase Commitment        
Long-term Purchase Commitment, Amount $ 8,500,000      
IDACORP [Member] | FERC and other industry-related fees        
Long-term Purchase Commitment        
Long-term Purchase Commitment, Amount 3,000,000      
Forecast [Member] | Idaho Power Company | CSPP on-line [Member]        
Long-term Purchase Commitment        
Nameplate Capacity (in MW) | MWh       75
Contracts with no expiration [Member] | Idaho Power Company | Joint-operating agreement payment [Member]        
Long-term Purchase Commitment        
Purchase Obligation 28,000,000      
Contracts with no expiration [Member] | Idaho Power Company | Other operations and maintenance        
Long-term Purchase Commitment        
Purchase Obligation 18,000,000      
Contracts with no expiration [Member] | Idaho Power Company | FERC and other industry-related fees        
Long-term Purchase Commitment        
Purchase Obligation 143,000,000      
Contracts with no expiration [Member] | IDACORP [Member] | FERC and other industry-related fees        
Long-term Purchase Commitment        
Long-term Purchase Commitment, Amount $ 2,000,000      
v3.22.0.1
BENEFIT PLANS: Schedule Defined Benefit Plans Disclosures (Details) - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Change in Fair Value of Plan Assets [Roll Forward]      
Employer contributions $ 8,200,000 $ 7,900,000 $ 7,700,000
Noncurrent liabilities (521,462,000) (634,070,000)  
Less amount recorded as regulatory assets 1,533,654,000 1,558,895,000  
Pension Plan      
Change in Benefit Obligation [Roll Forward]      
Benefit obligation at January 1 1,337,395,000 1,134,752,000  
Service cost 54,202,000 42,987,000 34,061,000
Interest cost 37,317,000 40,013,000 42,312,000
Actuarial (gain) loss (35,833,000) 163,610,000  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment 0 0  
Benefits Paid 46,551,000 43,967,000  
Projected benefit obligation at December 31 1,346,530,000 1,337,395,000 1,134,752,000
Change in Fair Value of Plan Assets [Roll Forward]      
Fair value at January 1 871,603,000 763,119,000  
Actual return (loss) on plan assets 119,412,000 112,451,000  
Employer contributions 40,000,000 40,000,000  
Benefits Paid (46,551,000) (43,967,000)  
Fair value at December 31 984,464,000 871,603,000 763,119,000
Funded status at end of year (362,066,000) (465,792,000)  
Other current liabilities 0 0  
Noncurrent liabilities (362,066,000) (465,792,000)  
Net amount recognized (362,066,000) (465,792,000)  
Net loss 322,908,000 437,859,000  
Prior service cost 43,000 49,000  
Subtotal 322,951,000 437,908,000  
Less amount recorded as regulatory assets [1] 322,951,000 437,908,000  
Net amount recognized in accumulated other comprehensive income 0 0  
Accumulated benefit obligation 1,120,036,000 1,115,923,000  
Senior Management Security Plan      
Change in Benefit Obligation [Roll Forward]      
Benefit obligation at January 1 134,791,000 122,443,000  
Service cost 813,000 213,000 (181,000)
Interest cost 3,557,000 4,350,000 4,575,000
Actuarial (gain) loss 33,000 13,420,000  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment 0 130,000  
Benefits Paid 6,182,000 5,765,000  
Projected benefit obligation at December 31 133,012,000 134,791,000 122,443,000
Change in Fair Value of Plan Assets [Roll Forward]      
Fair value at January 1 0 0  
Actual return (loss) on plan assets 0 0  
Employer contributions 0 0  
Benefits Paid 0 0  
Fair value at December 31 0 0 $ 0
Funded status at end of year (133,012,000) (134,791,000)  
Other current liabilities (6,226,000) (6,154,000)  
Noncurrent liabilities (126,786,000) (128,637,000)  
Net amount recognized (133,012,000) (134,791,000)  
Net loss 51,365,000 55,537,000  
Prior service cost 2,687,000 2,983,000  
Subtotal 54,052,000 58,520,000  
Less amount recorded as regulatory assets 0 0  
Net amount recognized in accumulated other comprehensive income 54,052,000 58,520,000  
Accumulated benefit obligation $ 121,591,000 $ 119,517,000  
[1] Changes in the funded status of the pension plan that would be recorded in accumulated other comprehensive income for an unregulated entity are recorded as a regulatory asset for Idaho Power as Idaho Power believes it is probable that an amount equal to the regulatory asset will be collected through the setting of future rates.
v3.22.0.1
BENEFIT PLANS: Defined Benefit Plan, Net Periodic Benefit Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Defined Benefit Plan Disclosure      
Net periodic benefit cost [1] $ 15,249 $ 11,865 $ 10,976
Pension Plan      
Defined Benefit Plan Disclosure      
Service cost 54,202 42,987 34,061
Interest cost 37,317 40,013 42,312
Expected return on plan assets 64,090 56,239 48,623
Amortization of net loss (23,796) (17,325) (13,564)
Amortization of prior service cost 6 6 6
Net periodic benefit cost 51,231 44,092 41,320
Regulatory deferral of net periodic benfit cost [2] 48,962 42,042 39,379
Previously deferred pension cost recognized [2] 17,154 17,154 17,154
Net periodic benefit cost recognized for financial reporting [2],[3] 19,423 19,204 19,095
Pension and SMSP      
Defined Benefit Plan Disclosure      
NetServiceCostDefinedBenefitPlan 17,800 15,900 15,100
otherexpensedefinedbenefitplanbenefitcost 10,500 11,900 11,000
Senior Management Security Plan      
Defined Benefit Plan Disclosure      
Service cost 813 213 (181)
Interest cost 3,557 4,350 4,575
Expected return on plan assets 0 0 0
Amortization of net loss (4,205) (3,734) (2,533)
Amortization of prior service cost 296 290 96
Net periodic benefit cost 8,871 8,587 7,023
Regulatory deferral of net periodic benfit cost 0 0 0
Net periodic benefit cost recognized for financial reporting [3] $ 8,871 $ 8,587 $ 7,023
[1] The 2021 pension and postretirement non-service costs includes $4.7 million of expense for a temporary deviation from the cost-sharing provisions of the substantive postretirement plan as described in Note 12 - "Benefit Plans."
[2] Net periodic pension 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 pension cost is recorded as a regulatory asset and is recognized in the income statement as those costs are recovered through rates.
[3] Of total net periodic pension cost recognized for financial reporting $17.8 million, $15.9 million, and $15.1 million respectively, was recognized in "Other operations and maintenance" and $10.5 million, and $11.9 million, and $11.0 million respectively, was recognized in "Other (income) expense, net" on the consolidated statements of income of the companies for the twelve months ended December 31, 2021, 2020, and 2019.
v3.22.0.1
BENEFIT PLANS: Schedule of Amounts Recognized in Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Reclassification adjustments for:      
Unfunded pension liability adjustment, net of tax $ (3,318) $ 7,074 $ 13,440
Pension Plan      
Defined Benefit Plan Disclosure      
Actuarial (loss) gain during the year 91,156 (107,399) (82,631)
Plan amendment service cost 0 0 0
Reclassification adjustments for:      
Amortization of net loss 23,796 17,325 13,564
Amortization of prior service cost 6 6 6
Adjustment for deferred tax effects (29,590) 23,184 17,776
Adjustment due to the effects of regulation (85,368) 66,884 51,285
Unfunded pension liability adjustment, net of tax 0 0 0
Senior Management Security Plan      
Defined Benefit Plan Disclosure      
Actuarial (loss) gain during the year (33) (13,420) (17,888)
Plan amendment service cost 0 (130) (2,839)
Reclassification adjustments for:      
Amortization of net loss 4,205 3,734 2,533
Amortization of prior service cost 296 290 96
Adjustment for deferred tax effects (1,150) 2,452 4,658
Adjustment due to the effects of regulation 0 0 0
Unfunded pension liability adjustment, net of tax 3,318 (7,074) (13,440)
Postretirement Benefits      
Defined Benefit Plan Disclosure      
Actuarial (loss) gain during the year 9,718 (6,515) (249)
Reclassification adjustments for:      
Immediate Recognition of loss from temporary deviation 4,736 [1] 0 0
Amortization of prior service cost 47 47 48
Adjustment for deferred tax effects (2,514) 1,665 52
Adjustment due to the effects of regulation (11,987) 4,803 149
Unfunded pension liability adjustment, net of tax $ 0 $ 0 $ 0
[1] In 2021, a loss associated with a temporary deviation from the cost-sharing provisions of the substantive plan was recognized in "Other (income) expense, net" on the consolidated statements of income of the companies.
v3.22.0.1
BENEFIT PLANS: Defined Benefit Plan, Estimated Future Benefit Payments (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Pension Plan    
Defined Benefit Plan Disclosure    
Defined Benefit Plan, Expected Future Benefit Payments in Year One   $ 45,239
Defined Benefit Plan, Expected Future Benefit Payments in Year Two   47,038
Defined Benefit Plan, Expected Future Benefit Payments in Year Three   48,890
Defined Benefit Plan, Expected Future Benefit Payments in Year Four   50,850
Defined Benefit Plan, Expected Future Benefit Payments in Year Five   52,855
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter   293,409
Senior Management Security Plan    
Defined Benefit Plan Disclosure    
Defined Benefit Plan, Expected Future Benefit Payments in Year One   6,226
Defined Benefit Plan, Expected Future Benefit Payments in Year Two   6,439
Defined Benefit Plan, Expected Future Benefit Payments in Year Three   6,619
Defined Benefit Plan, Expected Future Benefit Payments in Year Four   6,638
Defined Benefit Plan, Expected Future Benefit Payments in Year Five   6,738
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter   $ 34,700
Forecast [Member] | Pension Plan    
Defined Benefit Plan Disclosure    
Defined Benefit Plan, Minimum Funding Requirement for Next Fiscal Year $ 0  
v3.22.0.1
BENEFIT PLANS: Schedule of Defined Benefit Plan Disclosures, Other Postretirment Benefit Plans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Change in Fair Value of Plan Assets [Roll Forward]      
Employer contributions $ (8,200) $ (7,900) $ (7,700)
Postretirement Benefits      
Change in Benefit Obligation [Roll Forward]      
Benefit obligation at January 1 80,952 71,029  
Service cost 1,063 1,029 853
Interest cost 2,059 2,493 2,989
Actuarial loss (gain) (5,805) 9,359  
Defined Benefit Plan, Benefit Obligation, Benefits Paid [1] (4,194) (2,958)  
Projected benefit obligation at December 31 74,075 80,952 71,029
Change in Fair Value of Plan Assets [Roll Forward]      
Fair value at January 1 41,311 [2] 39,625  
Actual return (loss) on plan assets 6,308 5,248  
Employer contributions [1] (1,961) (604)  
Benefits Paid [1] (4,194) (2,958)  
Fair value at December 31 41,464 [2] 41,311 [2] $ 39,625
Funded status at end of year (32,611) (39,641)  
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant $ 3,000 $ 3,400  
[1] Contributions and benefits paid are each net of $3.0 million and $3.4 million of plan participant contributions for 2021 and 2020, respectively.
[2] The postretirement benefits assets are primarily life insurance contracts.
v3.22.0.1
BENEFIT PLANS: Amounts recognized in accumulated other comprehensive income, other postretirement plan (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Defined Benefit Plan Disclosure    
Regulatory Assets $ 1,533,654 $ 1,558,895
Postretirement Benefits    
Defined Benefit Plan Disclosure    
Net (loss) gain (8,020) 6,434
Prior service cost 80 127
Subtotal (7,940) 6,561
Regulatory Assets 7,940 6,561
Net amount recognized in accumulated other comprehensive income $ 0 $ 0
v3.22.0.1
BENEFIT PLANS: Defined Benefit Plan, Net Periodic Benefit Cost, Other Postretirement Plan (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Defined Benefit Plan, Net Periodic Benefit Cost      
Net periodic benefit cost [1] $ 15,249 $ 11,865 $ 10,976
Postretirement Benefits      
Defined Benefit Plan, Net Periodic Benefit Cost      
Service cost 1,063 1,029 853
Interest cost 2,059 2,493 2,989
Expected return on plan assets (2,395) (2,404) (2,220)
Immediate Recognition of loss from temporary deviation 4,736 [2] 0 0
Amortization of prior service cost 47 47 48
Net periodic benefit cost $ 5,510 $ 1,165 $ 1,670
[1] The 2021 pension and postretirement non-service costs includes $4.7 million of expense for a temporary deviation from the cost-sharing provisions of the substantive postretirement plan as described in Note 12 - "Benefit Plans."
[2] In 2021, a loss associated with a temporary deviation from the cost-sharing provisions of the substantive plan was recognized in "Other (income) expense, net" on the consolidated statements of income of the companies.
v3.22.0.1
BENEFIT PLANS: Expected future benefit payments and prescription drug benefits (Details) - Postretirement Benefits
$ in Thousands
Dec. 31, 2021
USD ($)
Defined Benefit Plan Disclosure  
Defined Benefit Plan, Expected Future Benefit Payments in Year One $ 5,447
Defined Benefit Plan, Expected Future Benefit Payments in Year Two 5,241
Defined Benefit Plan, Expected Future Benefit Payments in Year Three 4,982
Defined Benefit Plan, Expected Future Benefit Payments in Year Four 4,790
Defined Benefit Plan, Expected Future Benefit Payments in Year Five 4,557
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter $ 19,841
v3.22.0.1
BENEFIT PLANS: Defined Benefit Plan, Assumptions Used in Calculations, Benefit Obligations (Details)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Pension Plan      
Defined Benefit Plan Disclosure      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets 7.40% 7.40% 7.50%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Discount Rate 3.05% 2.80%  
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase [1] 4.49% 4.43%  
Defined Benefit Plan, Plan Assets, Accounting Policy Election, Measurement Date Dec. 31, 2021 Dec. 31, 2020  
Senior Management Security Plan      
Defined Benefit Plan Disclosure      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets 0.00% 0.00% 0.00%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Discount Rate 3.00% 2.70%  
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase [1] 4.75% 4.75%  
Defined Benefit Plan, Plan Assets, Accounting Policy Election, Measurement Date Dec. 31, 2021 Dec. 31, 2020  
Postretirement Benefits      
Defined Benefit Plan Disclosure      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets 6.00% 6.50% 6.75%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Discount Rate 2.95% 2.70%  
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase [1] 0.00% 0.00%  
Postretirement Benefit, Medical Trend Rate 6.30% 6.80% 6.70%
Health Care Cost Trend Rate Assumed for Next Fiscal Year 3.50% 4.00%  
Defined Benefit Plan, Plan Assets, Accounting Policy Election, Measurement Date Dec. 31, 2021 Dec. 31, 2020  
Inflation rate | Pension Plan      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase 2.40%    
Composite merit increase | Pension Plan      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase 2.09%    
Merit salary increase first year of service | Pension Plan      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase 8.00%    
Merit salary increase fortieth year of service and beyond | Pension Plan      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase 0.60%    
[1] The 2021 rate of compensation increase assumption for the pension plan includes an inflation component of 2.40% plus a 2.09% composite merit increase component that is based on employees' years of service. Merit salary increases are assumed to be 8.0% for employees in their first year of service and scale down to 0.6% for employees in their fortieth year of service and beyond.
v3.22.0.1
BENEFIT PLANS: Defined Benefit Plan, Assumptions Used in Calculations, Net Periodic Benefit Cost (Details)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Pension Plan      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]      
Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 2.80% 3.60% 4.55%
Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets 7.40% 7.40% 7.50%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase 4.49% 4.43% 4.37%
Senior Management Security Plan      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]      
Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 2.70% 3.65% 4.60%
Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets 0.00% 0.00% 0.00%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase 4.75% 4.75% 4.75%
Postretirement Benefits      
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]      
Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 2.70% 3.60% 4.60%
Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets 6.00% 6.50% 6.75%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase 0.00% 0.00% 0.00%
Postretirement Benefit, Medical Trend Rate 6.30% 6.80% 6.70%
Postretirement Benefit, Dental Trend Rate 3.50% 4.00% 4.00%
v3.22.0.1
BENEFIT PLANS: Defined Benefit Plan, Information about Plan Assets, Allocation Percentages (Details) - Pension Plan
Dec. 31, 2021
Defined Benefit Plan Disclosure  
Target Allocation Percentage of Assets 100.00%
Actual Plan Asset Allocations 100.00%
Debt Securities  
Defined Benefit Plan Disclosure  
Target Allocation Percentage of Assets 24.00%
Actual Plan Asset Allocations 23.00%
Equity Securities  
Defined Benefit Plan Disclosure  
Target Allocation Percentage of Assets 59.00%
Actual Plan Asset Allocations 61.00%
Real Estate  
Defined Benefit Plan Disclosure  
Target Allocation Percentage of Assets 9.00%
Actual Plan Asset Allocations 8.00%
Other plan assets  
Defined Benefit Plan Disclosure  
Target Allocation Percentage of Assets 8.00%
Actual Plan Asset Allocations 8.00%
v3.22.0.1
BENEFIT PLANS: Information about Plan Assets, Fair Value of Plan Assets by Measurement (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Pension Plan      
Defined Benefit Plan Disclosure      
Fair value of plan assets $ 984,464 $ 871,603 $ 763,119
Postretirement Benefits      
Defined Benefit Plan Disclosure      
Fair value of plan assets 41,464 [1] 41,311 [1] $ 39,625
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure      
Fair value of plan assets 24,636 25,008  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Intermediate Bonds      
Defined Benefit Plan Disclosure      
Fair value of plan assets 226,181 197,455  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Equity Securities: Large Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 104,318 79,259  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Equity Securities: Mid Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 113,621 104,089  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Equity Securities: Small Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 85,244 82,069  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Equity Securities: Micro-Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 42,915 44,715  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Equity Securities: International      
Defined Benefit Plan Disclosure      
Fair value of plan assets 67,625 69,687  
Fair Value, Inputs, Level 1, 2 and 3 | Pension Plan | Defined Benefit Plan, Equity Securities, Non-US [Member]      
Defined Benefit Plan Disclosure      
Fair value of plan assets 7,393 10,574  
Fair Value, Inputs, Level 1 | Pension Plan      
Defined Benefit Plan Disclosure      
Fair value of plan assets 484,885 449,856  
Fair Value, Inputs, Level 1 | Pension Plan | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure      
Fair value of plan assets 24,636 25,008  
Fair Value, Inputs, Level 1 | Pension Plan | Intermediate Bonds      
Defined Benefit Plan Disclosure      
Fair value of plan assets 39,133 34,455  
Fair Value, Inputs, Level 1 | Pension Plan | Equity Securities: Large Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 104,318 79,259  
Fair Value, Inputs, Level 1 | Pension Plan | Equity Securities: Mid Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 113,621 104,089  
Fair Value, Inputs, Level 1 | Pension Plan | Equity Securities: Small Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 85,244 82,069  
Fair Value, Inputs, Level 1 | Pension Plan | Equity Securities: Micro-Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 42,915 44,715  
Fair Value, Inputs, Level 1 | Pension Plan | Equity Securities: International      
Defined Benefit Plan Disclosure      
Fair value of plan assets 67,625 69,687  
Fair Value, Inputs, Level 1 | Pension Plan | Defined Benefit Plan, Equity Securities, Non-US [Member]      
Defined Benefit Plan Disclosure      
Fair value of plan assets 7,393 10,574  
Fair Value, Inputs, Level 1 | Postretirement Benefits      
Defined Benefit Plan Disclosure      
Fair value of plan assets [1] 2,391 1,333  
Fair Value, Inputs, Level 2 | Pension Plan      
Defined Benefit Plan Disclosure      
Fair value of plan assets 187,048 163,000  
Fair Value, Inputs, Level 2 | Pension Plan | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Pension Plan | Intermediate Bonds      
Defined Benefit Plan Disclosure      
Fair value of plan assets 187,048 163,000  
Fair Value, Inputs, Level 2 | Pension Plan | Equity Securities: Large Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Pension Plan | Equity Securities: Mid Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Pension Plan | Equity Securities: Small Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Pension Plan | Equity Securities: Micro-Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Pension Plan | Equity Securities: International      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Pension Plan | Defined Benefit Plan, Equity Securities, Non-US [Member]      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 2 | Postretirement Benefits      
Defined Benefit Plan Disclosure      
Fair value of plan assets [1] 39,073 39,978  
Fair Value, Inputs, Level 3 | Pension Plan      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Intermediate Bonds      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Equity Securities: Large Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Equity Securities: Mid Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Equity Securities: Small Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Equity Securities: Micro-Cap      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Equity Securities: International      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Pension Plan | Defined Benefit Plan, Equity Securities, Non-US [Member]      
Defined Benefit Plan Disclosure      
Fair value of plan assets 0 0  
Fair Value, Inputs, Level 3 | Postretirement Benefits      
Defined Benefit Plan Disclosure      
Fair value of plan assets [1] 0 0  
Fair Value Measured at Net Asset Value Per Share [Member] | Pension Plan | Equity Securities: International      
Defined Benefit Plan Disclosure      
Fair value of plan assets 134,752 116,223  
Fair Value Measured at Net Asset Value Per Share [Member] | Pension Plan | Equity Securities: Emerging Markets      
Defined Benefit Plan Disclosure      
Fair value of plan assets 47,332 50,019  
Fair Value Measured at Net Asset Value Per Share [Member] | Pension Plan | Real Estate      
Defined Benefit Plan Disclosure      
Fair value of plan assets 73,958 54,630  
Fair Value Measured at Net Asset Value Per Share [Member] | Pension Plan | Private market investments      
Defined Benefit Plan Disclosure      
Fair value of plan assets $ 56,489 $ 37,875  
[1] The postretirement benefits assets are primarily life insurance contracts.
v3.22.0.1
BENEFIT PLANS: Benefit Plans Narrative (Details) - USD ($)
 11 Months Ended 12 Months Ended
Dec. 31, 2091
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Defined Benefit Plan, Net Periodic Benefit Cost              
Net periodic benefit cost [1]         $ 15,249,000 $ 11,865,000 $ 10,976,000
Fair Value, All Levels Transfers, Amount         0 0  
Employer contributions         8,200,000 7,900,000 7,700,000
Pension Plan              
Defined Benefit Plan Disclosure              
Fair value of plan assets         984,464,000 871,603,000 763,119,000
Defined Benefit Plan, Net Periodic Benefit Cost              
Net periodic benefit cost         51,231,000 44,092,000 41,320,000
Amortization of net loss         (23,796,000) (17,325,000) (13,564,000)
Amortization of prior service cost         $ 6,000 $ 6,000 $ 6,000
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate         2.80% 3.60% 4.55%
Employer contributions         $ 40,000,000 $ 40,000,000  
Senior Management Security Plan              
Defined Benefit Plan Disclosure              
Fair value of plan assets         0 0 $ 0
Executive Deferred Compensation Plan Assets         117,100,000 108,800,000  
Defined Benefit Plan, Net Periodic Benefit Cost              
Net periodic benefit cost         8,871,000 8,587,000 7,023,000
Amortization of net loss         (4,205,000) (3,734,000) (2,533,000)
Amortization of prior service cost         $ 296,000 $ 290,000 $ 96,000
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate         2.70% 3.65% 4.60%
Employer contributions         $ 0 $ 0  
Postretirement Benefits              
Defined Benefit Plan Disclosure              
Fair value of plan assets         $ 41,464,000 [2] $ 41,311,000 [2] $ 39,625,000
Postretirement Benefit, Medical Trend Rate         6.30% 6.80% 6.70%
Postretirement Benefit, Dental Trend Rate         3.50% 4.00% 4.00%
Defined Benefit Plan, Net Periodic Benefit Cost              
Net periodic benefit cost         $ 5,510,000 $ 1,165,000 $ 1,670,000
Amortization of prior service cost         $ 47,000 $ 47,000 $ 48,000
Health Care Cost Trend Rate Assumed for Next Fiscal Year         3.50% 4.00%  
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate         2.70% 3.60% 4.60%
Employer contributions [3]         $ 1,961,000 $ 604,000  
Forecast [Member] | Pension Plan              
Defined Benefit Plan, Net Periodic Benefit Cost              
Defined Benefit Plan, Minimum Funding Requirement for Next Fiscal Year       $ 0      
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year       $ 40,000,000      
Forecast [Member] | Postretirement Benefits              
Defined Benefit Plan Disclosure              
Postretirement Benefit, Dental Trend Rate     3.50%        
Defined Benefit Plan, Net Periodic Benefit Cost              
Health Care Cost Trend Rate Assumed For Year Two       5.70%      
Health Care Cost Trend Rate Assumed for Year Three     5.10%        
Health Care Cost Trend Rate Assumed for Year Four 3.90% 5.00%          
[1] The 2021 pension and postretirement non-service costs includes $4.7 million of expense for a temporary deviation from the cost-sharing provisions of the substantive postretirement plan as described in Note 12 - "Benefit Plans."
[2] The postretirement benefits assets are primarily life insurance contracts.
[3] Contributions and benefits paid are each net of $3.0 million and $3.4 million of plan participant contributions for 2021 and 2020, respectively.
v3.22.0.1
PROPERTY, PLANT AND EQUIPMENT AND JOINTLY-OWNED PROJECTS: Property, Plant and Equipmnt Level 4 (Details)
 12 Months Ended
Dec. 31, 2021
USD ($)
MWh
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Public Utility, Property, Plant and Equipment      
Production $ 2,597,285,000 $ 2,529,708,000  
Transmission 1,309,143,000 1,272,360,000  
Distribution 2,058,819,000 1,968,752,000  
General and Other 544,069,000 512,970,000  
Utility plant in service 6,509,316,000 6,283,790,000  
Accumulated provision for depreciation (2,298,951,000) (2,193,831,000)  
Utility plant in service - net $ 4,210,365,000 $ 4,089,959,000  
Average depreciation rate 2.85% 2.88% 2.90%
Idaho Energy Resources Co. Coal purchases from Bridger Coal Company $ 180,550,000 $ 172,740,000 $ 156,872,000
Regulatory Liabilities $ 792,934,000 $ 768,834,000  
Jim Bridger Plant      
Public Utility, Property, Plant and Equipment      
Jointly Owned Utility Plant, Name Jim Bridger units 1-4    
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service $ 771,034,000    
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress 7,775,000    
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation $ 401,696,000    
Jointly Owned Utility Plant, Proportionate Ownership Share 33.00%    
Nameplate Capacity (in MW) | MWh [1],[2] 775    
Valmy Plant      
Public Utility, Property, Plant and Equipment      
Jointly Owned Utility Plant, Name North Valmy unit 2(2)    
Jointly Owned Utility Plant, Gross Ownership Amount of Plant in Service $ 255,451,000    
Jointly Owned Utility Plant, Ownership Amount of Construction Work in Progress 881,000    
Jointly Owned Utility Plant, Ownership Amount of Plant Accumulated Depreciation $ 195,258,000    
Jointly Owned Utility Plant, Proportionate Ownership Share 50.00%    
Nameplate Capacity (in MW) | MWh [1],[2] 145    
Production      
Public Utility, Property, Plant and Equipment      
Average depreciation rate 3.15% 3.23%  
Transmission      
Public Utility, Property, Plant and Equipment      
Average depreciation rate 1.89% 1.88%  
Distribution      
Public Utility, Property, Plant and Equipment      
Average depreciation rate 2.25% 2.26%  
General and Other      
Public Utility, Property, Plant and Equipment      
Average depreciation rate 6.17% 6.17%  
Bridger Coal Company      
Public Utility, Property, Plant and Equipment      
Idaho Energy Resources Co. Coal purchases from Bridger Coal Company $ 59,700,000 $ 68,300,000 73,600,000
Idaho Power Company      
Public Utility, Property, Plant and Equipment      
Utility plant in service 6,509,316,000 6,283,790,000  
Accumulated provision for depreciation (2,298,951,000) (2,193,831,000)  
Utility plant in service - net 4,210,365,000 4,089,959,000  
Idaho Energy Resources Co. Coal purchases from Bridger Coal Company 180,550,000 172,740,000 156,872,000
Construction work in progress $ 670,600,000    
Ida-West Energy      
Public Utility, Property, Plant and Equipment      
Jointly Owned Utility Plant, Proportionate Ownership Share 50.00%    
Marysville Hydro Partners      
Public Utility, Property, Plant and Equipment      
Utility plant in service - net $ 16,000,000    
Ida-West | Idaho Power Company      
Public Utility, Property, Plant and Equipment      
Power purchased from Ida-West 8,200,000 9,300,000 $ 8,600,000
Hells Canyon Complex | Idaho Power Company      
Public Utility, Property, Plant and Equipment      
Construction work in progress 389,300,000    
Hydroelectric plan net book value [Member] | Marysville Hydro Partners      
Public Utility, Property, Plant and Equipment      
Utility plant in service - net 13,700,000 14,200,000  
IPUC authorized AFUDC Collection HCC Relicensing - Gross | Hells Canyon Complex | Idaho Power Company      
Public Utility, Property, Plant and Equipment      
Regulatory Liabilities 8,800,000    
IPUC authorized AFUDC Collection HCC Relicensing - Net | Hells Canyon Complex | Idaho Power Company      
Public Utility, Property, Plant and Equipment      
Regulatory Liabilities 6,500,000    
Deferred revenue-AFUDC      
Public Utility, Property, Plant and Equipment      
Regulatory Liabilities [3] $ 187,717,000 $ 169,095,000  
[1] Idaho Power’s share of nameplate capacity.
[2] Pursuant to an agreement with NV Energy, Idaho Power's participation in coal-fired operations of North Valmy ended in December 2019 at unit 1 and is planned to end no later than the end of 2025 at unit 2
[3] Idaho Power is collecting revenue in the Idaho jurisdiction for AFUDC on HCC relicensing costs but is deferring revenue recognition of the amounts collected until the license is issued and the asset is placed in service under the new license.
v3.22.0.1
ASSET RETIREMENT OBLIGATIONS Asset Retirement Obligations Level 4 (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Asset Retirement Obligation, Roll Forward Analysis    
Balance at beginning of year $ 27,691 $ 28,191
Accretion Expense 1,021 1,053
Revisions in estimated cash flows 9,415 193
Liabilities settled 1,429 1,746
Balance at end of year $ 36,698 $ 27,691
v3.22.0.1
INVESTMENTS: Investments Level 4 (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Summary of investments in debt and equity securities      
Equity method investment $ 10,386 $ 10,662  
Investments in affordable housing 34,967 28,438  
Other Investments 1,363 0  
Total investments 123,824 126,948  
Earnings of unconsolidated equity-method investments 11,435 11,513 $ 12,370
Idaho Power Company      
Summary of investments in debt and equity securities      
Equity method investment 22,677 37,115  
Cash, Cash Equivalents, and Short-term Investments 54,078 50,531  
Executive Deferred Compensation Plan Assets 353 202  
Total investments $ 77,108 87,848  
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage 33.00%    
Earnings of unconsolidated equity-method investments $ 10,211 10,102 10,285
Proceeds from sales 11,328 25,795 5,080
Gross realized gains from sales 0 0 0
Bridger Coal Company      
Summary of investments in debt and equity securities      
Earnings of unconsolidated equity-method investments $ 10,211 10,102 10,285
Ida-West Energy      
Summary of investments in debt and equity securities      
Jointly Owned Utility Plant, Proportionate Ownership Share 50.00%    
Earnings of unconsolidated equity-method investments $ 1,224 $ 1,411 $ 2,085
v3.22.0.1
DERIVATIVE FINANCIAL INSTRUMENTS: Derivative Instruments, Gain (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Financial Swaps | Operating revenues      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain on Derivative [1] $ 1,046 $ 2,173 $ 904
Financial Swaps | Purchased power      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain on Derivative [1] 1,959    
Derivative, Loss on Derivative [1]   3,531 2,183
Financial Swaps | Fuel Expense      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain on Derivative [1] 12,180   13,811
Derivative, Loss on Derivative [1]   4,791  
Forward contracts | Operating revenues      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain on Derivative [1] 1,966 421 285
Forward contracts | Purchased power      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Loss on Derivative [1] 1,099 384 270
Forward contracts | Fuel Expense      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain on Derivative [1]     $ 565
Derivative, Loss on Derivative [1] $ 194 $ 36  
[1] Excludes unrealized gains or losses on derivatives, which are recorded on the balance sheet as regulatory assets or regulatory liabilities.
v3.22.0.1
DERIVATIVE FINANCIAL INSTRUMENTS: Derivative Financial Instruments Level 4 (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Fair Value    
Derivative Asset, Fair Value, Gross Asset $ 11,504 $ 2,263
Derivative Asset, Fair Value, Gross Liability (4,906) (268)
Derivative Asset, Fair Value, Amount Offset Against Collateral 6,598 1,995
Derivative Liability, Fair Value, Gross Liability 8,670 893
Derivative Liability, Fair Value, Gross Asset (2,923) (749)
Derivative Liability, Fair Value, Amount Offset Against Collateral 5,747 144
Derivatives in a net liability position 3,000  
Collateral Already Posted, Aggregate Fair Value 0  
Additional Collateral, Aggregate Fair Value 7,600  
Other current assets | Financial Swaps    
Fair Value    
Derivative Asset, Fair Value, Gross Asset 10,599 2,028
Derivative Asset, Fair Value, Gross Liability (4,893) [1] (36)
Derivative Asset, Fair Value, Amount Offset Against Collateral 5,706 1,992
Derivative Liability, Fair Value, Gross Liability 2,910 36
Derivative Liability, Fair Value, Gross Asset (2,910) (36)
Derivative Liability, Fair Value, Amount Offset Against Collateral 0 0
Other current assets | Forward contracts    
Fair Value    
Derivative Asset, Fair Value, Gross Asset 6 5
Derivative Asset, Fair Value, Gross Liability (4) (2)
Derivative Asset, Fair Value, Amount Offset Against Collateral 2 3
Derivative Liability, Fair Value, Gross Liability 4 2
Derivative Liability, Fair Value, Gross Asset (4) (2)
Derivative Liability, Fair Value, Amount Offset Against Collateral 0 0
Other current liabilities | Financial Swaps    
Fair Value    
Derivative Asset, Fair Value, Gross Asset 0 187
Derivative Asset, Fair Value, Gross Liability 0 (187)
Derivative Asset, Fair Value, Amount Offset Against Collateral 0 0
Derivative Liability, Fair Value, Gross Liability 20 786
Derivative Liability, Fair Value, Gross Asset 0 (652) [2]
Derivative Liability, Fair Value, Amount Offset Against Collateral 20 134
Other current liabilities | Forward contracts    
Fair Value    
Derivative Asset, Fair Value, Gross Asset 0 3
Derivative Asset, Fair Value, Gross Liability 0 (3)
Derivative Asset, Fair Value, Amount Offset Against Collateral 0 0
Derivative Liability, Fair Value, Gross Liability 1,970 13
Derivative Liability, Fair Value, Gross Asset 0 (3)
Derivative Liability, Fair Value, Amount Offset Against Collateral 1,970 10
Other liabilities | Financial Swaps    
Fair Value    
Derivative Asset, Fair Value, Gross Asset 0 40
Derivative Asset, Fair Value, Gross Liability 0 (40)
Derivative Asset, Fair Value, Amount Offset Against Collateral 0 0
Derivative Liability, Fair Value, Gross Liability 14 56
Derivative Liability, Fair Value, Gross Asset 0 (56) [2]
Derivative Liability, Fair Value, Amount Offset Against Collateral 14 $ 0
Other liabilities | Forward contracts    
Fair Value    
Derivative Asset, Fair Value, Gross Asset 0  
Derivative Asset, Fair Value, Gross Liability 0  
Derivative Asset, Fair Value, Amount Offset Against Collateral 0  
Derivative Liability, Fair Value, Gross Liability 3,743  
Derivative Liability, Fair Value, Gross Asset 0  
Derivative Liability, Fair Value, Amount Offset Against Collateral 3,743  
Other assets | Financial Swaps    
Fair Value    
Derivative Asset, Fair Value, Gross Asset 899  
Derivative Asset, Fair Value, Gross Liability (9)  
Derivative Asset, Fair Value, Amount Offset Against Collateral 890  
Derivative Liability, Fair Value, Gross Liability 9  
Derivative Liability, Fair Value, Gross Asset (9)  
Derivative Liability, Fair Value, Amount Offset Against Collateral $ 0  
[1] Current asset derivative amounts offset include $2.0 million of collateral payable at December 31, 2021
[2] Current and long-term liability derivative amounts offset include $0.5 million and $16 thousand of collateral receivable at December 31, 2020, respectively
v3.22.0.1
DERIVATIVE FINANCIAL INSTRUMENTS: Derivative Instruments, Notional Amounts (Details) (Details)
MWh in Thousands, MMBTU in Thousands
Dec. 31, 2021
MWh
MMBTU
Dec. 31, 2020
MMBTU
MWh
Electricity (MWh) | Long    
Derivative    
Derivative, Nonmonetary Notional Amount | MWh 529 74
Electricity (MWh) | Short    
Derivative    
Derivative, Nonmonetary Notional Amount | MWh 129 0
Natural Gas (MMBTU) | Long    
Derivative    
Derivative, Nonmonetary Notional Amount | MMBTU 11,740 7,923
Natural Gas (MMBTU) | Short    
Derivative    
Derivative, Nonmonetary Notional Amount | MMBTU 0 775
v3.22.0.1
FAIR VALUE MEASUREMENTS: Fair Value Measurements Level 4 (Details) - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value, All Levels Transfers, Amount $ 0 $ 0
Money market funds [1] 80,406,000 56,048,000
Asset derivatives 6,598,000 1,995,000
Equity Securities, FV-NI 54,431,000 50,733,000
Liability derivatives 5,747,000 144,000
Fair Value, Inputs, Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] 80,406,000 56,048,000
Asset derivatives 6,596,000 1,995,000
Equity Securities, FV-NI 54,431,000 50,733,000
Other Assets, Fair Value Disclosure 0 0
Liability derivatives 34,000 134,000
Fair Value, Inputs, Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] 0 0
Asset derivatives 2,000 0
Equity Securities, FV-NI 0 0
Other Assets, Fair Value Disclosure 0 0
Liability derivatives 5,713,000 10,000
Fair Value, Inputs, Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds [1] 0 0
Asset derivatives 0 0
Equity Securities, FV-NI 0 0
Other Assets, Fair Value Disclosure 0 0
Liability derivatives 0 0
Fair Value Measured at Net Asset Value Per Share [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other Assets, Fair Value Disclosure 1,363,000 0
Idaho Power Company    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 10,393,000 40,038,000
Idaho Power Company | Fair Value, Inputs, Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 10,393,000 40,038,000
Idaho Power Company | Fair Value, Inputs, Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds 0 0
Idaho Power Company | Fair Value, Inputs, Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Money market funds $ 0 $ 0
[1] Holding company only. Does not include amounts held by Idaho Power.
v3.22.0.1
FAIR VALUE MEASUREMENTS: Fair Value Carrying Amounts and Estimated Fair Values (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Carrying Amount    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable [1] $ 3,804 $ 3,804
Long-term debt [1] 2,000,640 2,000,414
Carrying Amount | Idaho Power Company    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt [1] 2,000,640 2,000,414
Estimated Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable [1] 3,804 3,804
Long-term debt [1] 2,381,172 2,466,967
Estimated Fair Value | Idaho Power Company    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt [1] $ 2,381,172 $ 2,466,967
[1] Notes receivable and long-term debt are categorized as Level 3 and Level 2, respectively, of the fair value hierarchy, as defined earlier in this Note 17 - "Fair Value Measurements."
v3.22.0.1
SEGMENT INFORMATION (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Segment Reporting Information [Line Items]      
Revenues $ 1,458,084 $ 1,350,729 $ 1,346,383
Electric utility revenues 1,455,410 1,347,340 1,342,940
Operating income 329,651 309,521 298,326
Other income, net 21,105 22,547 20,363
Interest income 7,292 10,512 13,251
Earnings of unconsolidated equity-method investments 11,435 11,513 12,370
Interest on long-term debt 86,698 87,426 86,475
Income before income taxes 282,784 266,668 257,835
Income tax expense (benefit) 36,912 28,700 24,507
Income attributable to IDACORP, Inc. 245,550 237,417 232,854
Total assets 7,210,515 7,095,244 6,641,201
Expenditures for long-lived assets 299,999 310,938 278,705
Consolidation, Eliminations      
Segment Reporting Information [Line Items]      
Revenues 0 0 0
Operating income 0 0 0
Other income, net 0 0 0
Interest income (47) (496) (769)
Earnings of unconsolidated equity-method investments 0 0 0
Interest on long-term debt (47) (496) (769)
Income before income taxes 0 0 0
Income tax expense (benefit) 0 0 0
Income attributable to IDACORP, Inc. 0 0 0
Total assets (62,323) (63,926) (73,578)
Expenditures for long-lived assets $ 0 $ 0 $ 0
Idaho Power Company      
Segment Reporting Information [Line Items]      
IERCo's ownership percentage in Bridger Coal Company 33.00% 33.00% 33.00%
Idaho Power Company | Idaho Power      
Segment Reporting Information [Line Items]      
Electric utility revenues $ 1,455,410 $ 1,347,340 $ 1,342,940
Operating income 329,568 308,780 297,652
Other income, net 21,243 22,555 20,362
Interest income 7,123 9,733 10,968
Earnings of unconsolidated equity-method investments 10,211 10,102 10,285
Interest on long-term debt 86,663 87,389 86,412
Income before income taxes 281,482 263,783 252,854
Income tax expense (benefit) 38,257 30,548 28,417
Income attributable to IDACORP, Inc. 243,225 233,235 224,437
Total assets 6,990,839 6,906,110 6,494,159
Expenditures for long-lived assets 299,972 310,937 278,707
All Other | Idaho Power      
Segment Reporting Information [Line Items]      
Revenues 2,674 3,389 3,443
Operating income 83 741 674
Other income, net (138) (8) 1
Interest income 216 1,275 3,052
Earnings of unconsolidated equity-method investments 1,224 1,411 2,085
Interest on long-term debt 82 533 832
Income before income taxes 1,302 2,885 4,981
Income tax expense (benefit) (1,345) (1,848) (3,910)
Income attributable to IDACORP, Inc. 2,325 4,182 8,417
Total assets 281,999 253,060 220,620
Expenditures for long-lived assets $ 27 $ 1 $ (2)
v3.22.0.1
OTHER INCOME AND EXPENSE Other Income and Expense Level 4 (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Schedule of other nonoperating income (expense) [Line Items]      
Interest and dividend income, net $ 1,408 $ 3,813 $ 8,181
Carrying charges on regulatory assets 5,034 7,063 5,494
Net periodic benefit cost [1] 15,249 11,865 10,976
Income from life insurance investments 5,203 4,036 4,104
Other Income 463 462 (301)
Other (income) expense, net (3,141) 3,509 6,502
Idaho Power Company      
Schedule of other nonoperating income (expense) [Line Items]      
Interest and dividend income, net 1,241 3,034 5,898
Carrying charges on regulatory assets 5,034 7,063 5,494
Net periodic benefit cost [1] 15,240 11,862 10,976
Income from life insurance investments 5,203 4,036 4,104
Other Income 591 468 (303)
Other (income) expense, net $ (3,171) $ 2,739 $ 4,217
[1] The 2021 pension and postretirement non-service costs includes $4.7 million of expense for a temporary deviation from the cost-sharing provisions of the substantive postretirement plan as described in Note 12 - "Benefit Plans."
v3.22.0.1
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
AOCI - Beginning Balance $ (43,358)    
Reclassifications 3,343 $ 2,988 $ 1,952
AOCI - Ending Balance (40,040) (43,358)  
Accumulated Defined Benefit Pension Items      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
AOCI - Beginning Balance (43,358) (36,284) (22,844)
Other comprehensive income before reclassifications (25) (10,062) (15,392)
Reclassifications 3,343 2,988 1,952
Other Comprehensive Income (Loss) 3,318 (7,074) (13,440)
AOCI - Ending Balance (40,040) (43,358) (36,284)
Other Comprehensive Income (Loss) before Reclassifications, Tax (8) (3,488) (5,335)
Reclassification from AOCI, Current Period, Tax $ (1,158) $ (1,036) $ (677)
v3.22.0.1
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME Reclassifications out of Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Reclassifications out of Accumulated Other Comprehensive Income before Tax [Abstract]      
Reclassifications $ 3,343 $ 2,988 $ 1,952
Accumulated Defined Benefit Pension Items      
Reclassifications out of Accumulated Other Comprehensive Income before Tax [Abstract]      
Amortization of prior service cost [1] 296 290 96
Amortization of net loss [1] 4,205 3,734 2,533
Total reclassifications, before tax - pension and postretirement benefits [1] 4,501 4,024 2,629
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent [2] (1,158) (1,036) (677)
Total reclassification, net of tax - pension and postretirement benefits 3,343 2,988 1,952
Reclassifications $ 3,343 $ 2,988 $ 1,952
[1] Amortization of these items is included in "Other (income) expense, net" in the consolidated income statements of both IDACORP and Idaho Power.
[2] The tax benefit is included in "Income tax expense" in the consolidated income statements of both IDACORP and Idaho Power
v3.22.0.1
RELATED PARTY TRANSACTIONS: Related Party Transactions Level 4 (Details) - Idaho Power Company - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
IDACORP      
Related Party Transaction      
Services billed to IDACORP $ 800,000 $ 700,000 $ 800,000
Idaho Power      
Related Party Transaction      
Payable from Idaho Power to IDACORP 2,000,000 1,500,000  
Ida-West      
Related Party Transaction      
Power purchased from Ida-West $ 8,200,000 $ 9,300,000 $ 8,600,000
v3.22.0.1
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income:      
Equity in income of subsidiaries $ 11,435 $ 11,513 $ 12,370
Operating income 329,651 309,521 298,326
Expenses:      
Operating expenses 1,128,433 1,041,208 1,048,057
Interest on long-term debt 86,698 87,426 86,475
Other expenses 3,141 (3,509) (6,502)
Income before income taxes 282,784 266,668 257,835
Income Tax Expense 36,912 28,700 24,507
Net Income Attributable to IDACORP, Inc. 245,550 237,417 232,854
Comprehensive Income Attributable to IDACORP, Inc. 248,868 230,343 219,414
IDACORP      
Income:      
Equity in income of subsidiaries 245,591 237,233 231,534
Investment income 148 748 2,214
Operating income 245,739 237,981 233,748
Expenses:      
Operating expenses 679 692 816
Interest on long-term debt 82 534 831
Other expenses 192 145 30
Total expenses 953 1,371 1,677
Income before income taxes 244,786 236,610 232,071
Income Tax Expense (764) (807) (783)
Net Income Attributable to IDACORP, Inc. 245,550 237,417 232,854
Other comprehensive (loss) income 3,318 (7,074) (13,440)
Comprehensive Income Attributable to IDACORP, Inc. $ 248,868 $ 230,343 $ 219,414
v3.22.0.1
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities:      
Net cash provided by operating activities $ 363,264 $ 388,131 $ 366,625
Investing Activities:      
Payments to Acquire Short-term Investments (25,000) (25,000) 0
Proceeds from Maturities, Prepayments and Calls of Short-term Investments 50,000 0 0
Net cash used in investing activities (273,653) (347,258) (280,492)
Financing Activities:      
Dividends on common stock (146,119) (137,813) (129,677)
Other (334) (3,636) (2,534)
Net cash used in financing activities (149,484) 16,989 (136,371)
Net (decrease) increase in cash and cash equivalents (59,873) 57,862 (50,238)
Cash and cash equivalents at beginning of the year 275,116 217,254 267,492
Cash and cash equivalents at end of the year 215,243 275,116 217,254
IDACORP      
Operating Activities:      
Net cash provided by operating activities 174,209 168,699 112,745
Investing Activities:      
Payments to Acquire Short-term Investments (26,363) (25,000) 0
Proceeds from Maturities, Prepayments and Calls of Short-term Investments 50,000 0 0
Net cash used in investing activities 23,637 (25,000) 0
Financing Activities:      
Dividends on common stock (146,119) (137,856) (129,682)
Change in intercompany notes payable (2,167) (9,732) 37,588
Other (3,124) (4,663) (4,410)
Net cash used in financing activities (151,410) (152,251) (96,504)
Net (decrease) increase in cash and cash equivalents 46,436 (8,552) 16,241
Cash and cash equivalents at beginning of the year 106,589 115,141 98,900
Cash and cash equivalents at end of the year $ 153,025 $ 106,589 $ 115,141
v3.22.0.1
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - CONDENSED BALANCE SHEETS (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Current Assets:      
Cash and cash equivalents $ 215,243 $ 275,116  
Short-term Investments 0 25,000  
Income taxes receivable 14,770 2,164  
Other 5,708 1,995  
Total current assets 595,873 642,401  
Other Assets:      
Other 59,222 58,515  
Total other assets 1,588,996 1,616,385  
Total assets 7,210,515 7,095,244 $ 6,641,201
Current Liabilities:      
Accounts payable 145,980 120,576  
Other 31,079 30,767  
Total current liabilities 325,624 287,571  
Other Liabilities:      
Other 63,485 48,752  
Total other liabilities 2,209,017 2,240,803  
IDACORP, Inc. Shareholders’ Equity 2,668,436 2,559,980 $ 2,464,628
Total 7,210,515 7,095,244  
IDACORP      
Current Assets:      
Cash and cash equivalents 153,025 106,589  
Short-term Investments 0 25,000  
Receivables 2,050 1,604  
Other 102 107  
Total current assets 155,177 133,300  
Investment in subsidiaries 2,570,150 2,468,955  
Other Assets:      
Deferred income taxes 5,004 23,859  
Other 299 312  
Total other assets 5,303 24,171  
Total assets 2,730,630 2,626,426  
Current Liabilities:      
Taxes accrued 850 2,745  
Other 777 928  
Total current liabilities 1,627 3,673  
Other Liabilities:      
Intercompany notes payable 59,928 62,049  
Other 639 724  
Total other liabilities 60,567 62,773  
IDACORP, Inc. Shareholders’ Equity 2,668,436 2,559,980  
Total $ 2,730,630 $ 2,626,426  
v3.22.0.1
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Basis of Presentation (Details) - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
IDACORP      
Condensed Financial Statements, Captions [Line Items]      
Proceeds from Dividends Received $ 149,000,000 $ 141,000,000 $ 133,000,000
v3.22.0.1
Schedule II - Consolidated Valuation and Qualifying Accounts Schedule II - Consolidated Valuation and Qualifying Accounts Level 4 (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Reserve for uncollectibe accounts      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Valuation Allowances and Reserves, Beginning Balance $ 5,263 $ 1,744 $ 1,989
Valuation Allowances and Reserves, Charged to Income 2,083 5,239 2,381
Valuation Allowances and Reserves, Charged (Credited) to Other Accounts 640 438 227
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction [1] 2,970 2,158 2,853
Valuation Allowances and Reserves, Ending Balance 5,016 5,263 1,744
Injuries and damages      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Valuation Allowances and Reserves, Beginning Balance 2,484 1,748 1,877
Valuation Allowances and Reserves, Charged to Income 2,032 1,203 390
Valuation Allowances and Reserves, Charged (Credited) to Other Accounts 0 0 0
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction [1] 736 467 519
Valuation Allowances and Reserves, Ending Balance $ 3,780 $ 2,484 $ 1,748
[1] Represents deductions from the reserves for purposes for which the reserves were created. In the case of uncollectible accounts, and notes reserves, includes reversals of amounts previously reserved.