IDACORP Inc (IDA)

Debt-to-capital ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	2,775,790	2,826,150	2,482,350	2,483,050	2,194,140	2,071,400	2,075,700	2,050,630	2,000,640	2,000,580	2,000,530	2,000,470	2,000,410	2,000,360	2,000,460	1,837,010	1,736,660	1,836,400	1,835,520	1,835,160
Total stockholders’ equity	US$ in thousands	2,907,570	2,920,890	2,853,760	2,823,060	2,807,240	2,778,300	2,706,810	2,677,510	2,668,440	2,670,610	2,606,410	2,569,420	2,559,980	2,565,990	2,495,800	2,467,380	2,464,630	2,464,120	2,403,800	2,380,240
Debt-to-capital ratio		0.49	0.49	0.47	0.47	0.44	0.43	0.43	0.43	0.43	0.43	0.43	0.44	0.44	0.44	0.44	0.43	0.41	0.43	0.43	0.44

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,775,790K ÷ ($2,775,790K + $2,907,570K)
= 0.49

The debt-to-capital ratio of Idacorp, Inc. has been relatively stable over the past eight quarters, ranging between 0.43 and 0.49. This ratio indicates the proportion of the company's capital that is financed through debt, with values closer to 1 suggesting a higher reliance on debt financing.

The consistent levels of around 0.44 to 0.49 indicate that Idacorp, Inc. has maintained a balanced capital structure, utilizing a mix of debt and equity to fund its operations and growth initiatives. A rising trend in the ratio may signal increasing financial leverage and potential risks associated with higher debt levels, while a declining trend could point to stronger financial health and reduced dependence on debt.

Overall, the stability of Idacorp, Inc.'s debt-to-capital ratio suggests a prudent approach to capital management, maintaining a reasonable level of debt relative to its total capital base over the past two years.