The performance of an irreversible closed intercooled regenerator Brayton-cycle coupled to constant-temperature heat reservoirs is analyzed by using the theory of finite-time thermodynamics (FTT). Analytical formulae for dimensionless power and efficiency are derived. Especially, the intercooling pressure-ratio is optimized for the optimal power and the optimal efficiency, respectively. The effects of component (the intercooler, the regenerator, and the hot- and cold-side heat-exchangers) effectivenesses, the compressor and turbine efficiencies, the heat-reservoir temperature-ratio, and the temperature ratio of the cooling fluid in the intercooler and the cold-side heat reservoir on the optimal power and the corresponding efficiency and corresponding intercooling pressure ratio, as well as the optimal efficiency and the corresponding power and corresponding intercooling pressure-ratio are analyzed by detailed numerical examples. (C) 2003 Elsevier Ltd. All rights reserved.