FAIR VALUE MEASUREMENTS: Level 3 (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table presents information about IDACORP’s and Idaho Power’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2025, and December 31, 2024 (in thousands).


	March 31, 2025								December 31, 2024
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds and commercial paper
IDACORP(1)	$	150,565	$	—	$	—	$	150,565	$	146,308	$	—	$	—	$	146,308
Idaho Power	420,488		—		—		420,488		158,999		—		—		158,999
Derivatives	13,687		—		—		13,687		—		—		—		—
Equity securities	38,435		—		—		38,435		39,772		—		—		39,772
IDACORP assets measured at NAV (not subject to hierarchy disclosure)(1)	—		—		—		4,801		—		—		—		4,099
Liabilities:
Derivatives	4,213		11,791		—		16,004		4,003		12,256		—		16,259

(1) Holding company only. Does not include amounts held by Idaho Power.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The table below presents the carrying value and estimated fair value of financial instruments that are not reported at fair value as of March 31, 2025, and December 31, 2024, using available market information and appropriate valuation methodologies (in thousands).


	March 31, 2025				December 31, 2024
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
IDACORP
Assets:
Notes receivable(1)	$	2,155	$	2,155	$	2,155	$	2,155
Held-to-maturity securities(1)(2)	32,466		30,154		32,151		29,428
Liabilities:
Long-term debt (including current portion)(1)	3,447,008		3,226,230		3,073,662		2,807,803
Idaho Power
Assets:
Held-to-maturity securities(1)(2)	$	32,466	$	30,154	$	32,151	$	29,428
Liabilities:
Long-term debt (including current portion)(1)	3,447,008		3,226,230		3,073,662		2,807,803

(1) Notes receivable are categorized as Level 3 and held-to-maturity securities and long-term debt are categorized as Level 2 of the fair value hierarchy, as defined earlier in this Note 12 - "Fair Value Measurements."

(2) All held-to-maturity securities are carried at amortized cost and were in a gross unrealized holding loss position totaling $2.3 million and $2.7 million as of March 31, 2025, and December 31, 2024, respectively. Substantially all of these debt securities mature between 2027 and 2038. Based on ongoing credit evaluations of these holdings, Idaho Power does not expect payment defaults or delinquencies and had not recorded an allowance for credit losses for these securities as of March 31, 2025, and December 31, 2024.