Schedule 13G

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

 

SCHEDULE 13G

(Rule 13d-102)

 

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED

PURSUANT TO RULE 13d-2(b)

 

(Amendment No.         )*

 

 

 

 

IDAHO POWER COMPANY


(Name of Issuer)

 

 

7.68% Series, Serial Preferred Stock


(Title of Class of Securities)

 

 

451380307


                                (CUSIP Number)                                

 

 

December 21, 1998**


(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

x Rule 13d-1(b)

 

¨ Rule 13d-1(c)

 

¨ Rule 13d-1(d)

 

*   The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (the “Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes.)

 

** The shares of Idaho Power Company reported as owned by this Schedule 13G are directly owned by two subsidiaries of General Re Corporation, which was acquired by Berkshire Hathaway Inc. on December 21, 1998. Inadvertently, these shares, which were acquired prior to Berkshire Hathaway’s acquisition of General Re Corporation by two subsidiaries of General Re Corporation on four separate occasions during the period between March 1, 1993 and July 16, 1997, were never included on a Schedule 13G by General Re Corporation, nor were they reported by Berkshire Hathaway upon its acquisition of General Re Corporation.


CUSIP No. 451380307   13G   Page 2 of 10 Pages
         

  1  

Name of Reporting Person

I.R.S. Identification No. of above person

 

            Warren E. Buffett

   

  2  

Check the Appropriate Box if a Member of a Group*

(a)   x

(b)   ¨

   

  3  

SEC Use Only

 

   

  4  

Citizenship or Place of Organization

 

            United States Citizen

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  5    Sole Voting Power

 

                NONE


  6    Shared Voting Power

 

                22,405


  7    Sole Dispositive Power

 

                NONE


  8    Shared Dispositive Power

 

                22,405


  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

            22,405

   

10  

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*

 

            Not Applicable.

 

 

¨


11  

Percent of Class Represented by Amount in Row 9

 

            14.9%

   

12  

Type of Reporting Person*

 

            IN, HC

   


CUSIP No. 451380307   13G   Page 3 of 10 Pages
         

  1  

Name of Reporting Person

I.R.S. Identification No. of above person

 

            Berkshire Hathaway Inc.

   

  2  

Check the Appropriate Box if a Member of a Group*

(a)  x

(b)  ¨

   

  3  

SEC Use Only

 

   

  4  

Citizenship or Place of Organization

 

            State of Delaware

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  5    Sole Voting Power

 

                NONE


  6    Shared Voting Power

 

                22,405


  7    Sole Dispositive Power

 

                NONE


  8    Shared Dispositive Power

 

                22,405


  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

            22,405

   

10  

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*

 

            Not Applicable.

 

 

¨


11  

Percent of Class Represented by Amount in Row 9

 

            14.9%

   

12  

Type of Reporting Person*

 

            HC, CO

   


CUSIP No. 451380307   13G   Page 4 of 10 Pages
         

  1  

Name of Reporting Person

I.R.S. Identification No. of above person

 

General Re Corporation

   

  2  

Check the Appropriate Box if a Member of a Group*

(a)  x

(b)  ¨

   

  3  

SEC Use Only

 

   

  4  

Citizenship or Place of Organization

 

State of Delaware

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  5    Sole Voting Power

 

        NONE


  6    Shared Voting Power

 

        22,405


  7    Sole Dispositive Power

 

        NONE


  8    Shared Dispositive Power

 

        22,405


  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

22,405

   

10  

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*

 

Not Applicable.

 

 

¨


11  

Percent of Class Represented by Amount in Row 9

 

14.9%

   

12  

Type of Reporting Person*

 

HC, CO

   


CUSIP No. 451380307   13G   Page 5 of 10 Pages
         

  1  

Name of Reporting Person

I.R.S. Identification No. of above person

 

General Reinsurance Corporation

   

  2  

Check the Appropriate Box if a Member of a Group*

(a)  x

(b)  ¨

   

  3  

SEC Use Only

 

   

  4  

Citizenship or Place of Organization

 

State of Delaware

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  5    Sole Voting Power

 

        NONE


  6    Shared Voting Power

 

        290


  7    Sole Dispositive Power

 

        NONE


  8    Shared Dispositive Power

 

        290


  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

290

   

10  

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*

 

Not Applicable.

 

 

¨


11  

Percent of Class Represented by Amount in Row 9

 

0.2%

   

12  

Type of Reporting Person*

 

IC, CO

   


CUSIP No. 451380307   13G   Page 6 of 10 Pages
         

  1  

Name of Reporting Person

I.R.S. Identification No. of above person

 

National Re Corporation

   

  2  

Check the Appropriate Box if a Member of a Group*

(a)  x

(b)  ¨

   

  3  

SEC Use Only

 

   

  4  

Citizenship or Place of Organization

 

State of Delaware

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  5    Sole Voting Power

 

        NONE


  6    Shared Voting Power

 

        22,115


  7    Sole Dispositive Power

 

        NONE


  8    Shared Dispositive Power

 

        22,115


  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

22,115

   

10  

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*

 

Not Applicable.

 

 

¨


11  

Percent of Class Represented by Amount in Row 9

 

14.7%

   

12  

Type of Reporting Person*

 

HC, CO

   


CUSIP No. 451380307

  13G   Page 7 of 10 Pages

 


  1.  

Name of Reporting Person

I.R.S. Identification No. of above person

 

National Reinsurance Corporation

   

  2.  

Check the Appropriate Box if a Member of a Group *

(a)  x

(b)  ¨

   

  3.  

SEC Use Only

 

   

  4.  

Citizenship or Place of Organization

 

State of Delaware

   

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

  5.    Sole Voting Power

 

        NONE


  6.    Shared Voting Power

 

        22,115


  7.    Sole Dispositive Power

 

        NONE


  8.    Shared Dispositive Power

 

        22,115


  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

22,115

   

10.  

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*

 

Not applicable

   

11.  

Percent of Class Represented by Amount in Row (9)

 

14.7%

   

12.  

Type of Reporting Person*

 

IC, CO

   

 


Page 8 of 10 Pages

 

SCHEDULE 13G

 

Item 1.

 

(a)

   Name of Issuer:          
         IDAHO POWER COMPANY          
   

(b)

   Address of Issuer’s Principal Executive Offices          
         1221 W. Idaho Street, Boise, Idaho 83702          

Item 2(a).

       Name of Person Filing:          

Item 2(b).

       Address of Principal Business Office:          

Item 2(c).

       Citizenship:          
        

Warren E. Buffett

1440 Kiewit Plaza

Omaha, Nebraska 68131

United States Citizen

         
        

Berkshire Hathaway Inc.

1440 Kiewit Plaza

Omaha, Nebraska 68131

Delaware corporation

         
        

General Re Corporation

695 East Main Street

Stamford, Connecticut 06904

Delaware corporation

         
        

General Reinsurance Corporation

695 East Main Street

Stamford, Connecticut 06904

Delaware corporation

         
        

National Re Corporation

695 East Main Street

Stamford, Connecticut 06904

Delaware corporation

         
        

National Reinsurance Corporation

695 East Main Street

Stamford, Connecticut 06904

Delaware corporation

         
    (d)    Title of Class of Securities          
         7.68% Series, Serial Preferred Stock          
   

(e)

   CUSIP Number          
         451380307          

Item 3.

  If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:     
    Warren E. Buffett (an individual who may be deemed to control Berkshire Hathaway Inc.), Berkshire Hathaway Inc., General Re Corporation and National Re Corporation are each a Parent Holding Company or Control Person, in accordance with Rule 13d-1(b)(1)(ii)(G) (Note: See Item 7).          
    General Reinsurance Corporation and National Reinsurance Corporation are each an Insurance Company as defined in section 3(a)(19) of the Act.          
    The Reporting Persons together are a Group in accordance with Rule 13d-1(b)(1)(ii)(J).          

Item 4.

  Ownership          
    If the percent of the class owned, as of December 31 of the year covered by the statement, or as of the last day of any month described in Rule 13d-1(b)(2), if applicable, exceeds five percent, provide the following information as of that date and identify those shares which there is a right to acquire.          
    (a)    Amount beneficially Owned          
         See the Cover Pages for each of the Reporting Persons.          


Page 9 of 10 Pages

 

    (b)    Percent of Class
         See the Cover Pages for each of the Reporting Persons.
    (c)    Number of shares as to which the person has:
         (i)    Sole power to vote or to direct the vote
         (ii)    Shared power to vote or to direct the vote
         (iii)    Sole power to dispose or to direct the disposition of
         (iv)    Shared power to dispose or to direct the disposition of
         See the Cover Pages for each Reporting Person.

Item 5.

   Ownership of Five Percent or Less of a Class     
     Not applicable.     

Item 6.

   Ownership of More than Five Percent on Behalf of Another Person          
     Not applicable.          

Item 7.

   Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person
     See Exhibit A.

Item 8.

   Identification and Classification of Members of the Group          
     See Exhibit A.          

Item 9.

   Notice of Dissolution of Group          
     Not applicable.          

Item 10.

   Certification          

 

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.


Page 10 of 10 Pages            

 

SIGNATURES

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated:  February 13, 2004      

/s/    Warren E. Buffett        


            Warren E. Buffett
       

Berkshire Hathaway Inc.

Dated:  February 13, 2004      

/s/    Warren E. Buffett        


            By:   Warren E. Buffett
            Title:   Chairman of the Board

 

       

General Re Corporation

Dated:  February 13, 2004      

/s/    William Gasdaska        


            By:   William Gasdaska
            Title:   Senior Vice President and CFO

 

       

General Reinsurance Corporation

Dated:  February 13, 2004      

/s/    William Gasdaska        


            By:   William Gasdaska
            Title:   Senior Vice President and CFO

 

       

National Re Corporation

Dated:  February 13, 2004      

/s/    Richard G. McCarty        


            By:   Richard G. McCarty
            Title:   Assistant Secretary

 

       

National Reinsurance Corporation

Dated:  February 13, 2004      

/s/    Timothy T. McCaffrey        


            By:   Timothy T. McCaffrey
            Title:   Secretary


SCHEDULE 13G

 

EXHIBIT A

 

RELEVANT SUBSIDIARIES AND MEMBERS OF FILING GROUP

 

PARENT HOLDING COMPANIES OR CONTROL PERSONS:

 

Warren E. Buffett (an individual who may be deemed to control Berkshire Hathaway Inc.)

 

Berkshire Hathaway Inc.

 

General Re Corporation

 

National Re Corporation

 

INSURANCE COMPANIES AS DEFINED IN SECTION 3(a)(19) OF THE ACT:

 

General Reinsurance Corporation

 

National Reinsurance Corporation


SCHEDULE 13G

 

EXHIBIT B

 

JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k)(1)

 

The undersigned persons agree and consent to the joint filing on their behalf of this Schedule 13G in connection with their beneficial ownership of 7.68% Series, Serial Preferred Stock of Idaho Power Company

 

Dated:  February 13, 2004      

/s/    Warren E. Buffett        


            Warren E. Buffett
       

Berkshire Hathaway Inc.

Dated:  February 13, 2004      

/s/    Warren E. Buffett        


            By:   Warren E. Buffett
            Title:   Chairman of the Board
       

General Re Corporation

Dated:  February 13, 2004      

/s/    William Gasdaska        


            By:   William Gasdaska
            Title:   Senior Vice President and CFO
       

General Reinsurance Corporation

Dated:  February 13, 2004      

/s/    William Gasdaska        


            By:   William Gasdaska
            Title:   Senior Vice President and CFO
       

National Re Corporation

Dated:  February 13, 2004      

/s/    Richard G. McCarty        


            By:   Richard G. McCarty
            Title:   Assistant Secretary
       

National Reinsurance Corporation

Dated:  February 13, 2004      

/s/    Timothy T. McCaffrey        


            By:   Timothy T. McCaffrey
            Title:   Secretary