Electric utility subsidiary (Tables)

3 Months Ended

Mar. 31, 2014

Regulatory projects and legal obligations

Schedule of consolidating statements of income (loss)

Selected financial information

American Savings Bank, F.S.B.

Statements of Income Data

	Three months ended   March 31
(in thousands)	2014		2013
Interest and dividend income
Interest and fees on loans	$	43,682	$	42,603
Interest and dividends on investment and mortgage-related securities	3,035		3,464
Total interest and dividend income	46,717		46,067
Interest expense
Interest on deposit liabilities	1,225		1,312
Interest on other borrowings	1,405		1,164
Total interest expense	2,630		2,476
Net interest income	44,087		43,591
Provision for loan losses	995		1,858
Net interest income after provision for loan losses	43,092		41,733
Noninterest income
Fees from other financial services	5,128		7,643
Fee income on deposit liabilities	4,421		4,314
Fee income on other financial products	2,290		1,794
Mortgage banking income	628		3,346
Gain on sale of securities	2,847		—
Other income, net	1,588		1,592
Total noninterest income	16,902		18,689
Noninterest expense
Compensation and employee benefits	20,286		20,088
Occupancy	3,953		4,123
Data processing	3,060		2,987
Services	2,273		2,103
Equipment	1,645		1,774
Other expense	7,153		7,595
Total noninterest expense	38,370		38,670
Income before income taxes	21,624		21,752
Income taxes	7,085		7,597
Net income	$	14,539	$	14,155

Schedule of consolidating balance sheets

American Savings Bank, F.S.B.

Balance Sheets Data

(in thousands)	March 31, 2014						December 31, 2013
Assets
Cash and cash equivalents (including $40 million of securities purchased under resale agreements at March 31, 2014)				$	251,083					$	156,603
Available-for-sale investment and mortgage-related securities				517,534						529,007
Investment in stock of Federal Home Loan Bank of Seattle				86,697						92,546
Loans receivable held for investment				4,188,460						4,150,229
Allowance for loan losses				(40,923		)				(40,116		)
Loans receivable held for investment, net				4,147,537						4,110,113
Loans held for sale, at lower of cost or fair value				4,363						5,302
Other				282,079						268,063
Goodwill				82,190						82,190
Total assets				$	5,371,483					$	5,243,824
Liabilities and shareholder’s equity
Deposit liabilities—noninterest-bearing				$	1,284,957					$	1,214,418
Deposit liabilities—interest-bearing				3,193,030						3,158,059
Other borrowings				244,642						244,514
Other				120,324						105,679
Total liabilities				4,842,953						4,722,670
Commitments and contingencies (see “Litigation” below)
Common stock				336,617						336,054
Retained earnings				203,086						197,297
Accumulated other comprehensive loss, net of tax benefits
Net unrealized losses on securities	$	(2,858	)				$	(3,663	)
Retirement benefit plans	(8,315		)	(11,173		)	(8,534		)	(12,197		)
Total shareholder’s equity				528,530						521,154
Total liabilities and shareholder’s equity				$	5,371,483					$	5,243,824
Other assets
Bank-owned life insurance				$	130,977					$	129,963
Premises and equipment, net				67,628						67,766
Prepaid expenses				4,617						3,616
Accrued interest receivable				13,119						13,133
Mortgage-servicing rights				11,757						11,687
Low-income housing equity investments				24,730						14,543
Real estate acquired in settlement of loans, net				542						1,205
Other				28,709						26,150
				$	282,079					$	268,063
Other liabilities
Accrued expenses				$	26,003					$	19,989
Federal and state income taxes payable				43,110						37,807
Cashier’s checks				25,363						21,110
Advance payments by borrowers				6,084						9,647
Other				19,764						17,126
				$	120,324					$	105,679

Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory projects and legal obligations

Schedule of purchases from all IPPs

Power purchase agreements.  As of March 31, 2014, the Utilities had six PPAs for firm capacity and several other PPAs with variable generation independent power producers (IPPs) and Schedule Q providers (i.e., customers with cogeneration and/or small power production facilities with a capacity of 100 kilowatts (kWs) or less who buy power from or sell power to the Utilities), none of which are currently required to be consolidated as VIEs. Approximately 90% of the firm capacity is purchased from AES Hawaii, Inc. (AES Hawaii), Kalaeloa Partners, L.P. (Kalaeloa), Hamakua Energy Partners, L.P. (HEP) and HPOWER. Purchases from all IPPs were as follows:

	Three months ended March 31
(in millions)	2014		2013
AES Hawaii	$	33	$	23
Kalaeloa	67		65
HEP	12		12
HPOWER	16		15
Other IPPs	37		38
Total IPPs	$	165	$	153

Schedule of changes in asset retirement obligation

Changes to the ARO liability included in “Other liabilities” on Hawaiian Electric’s balance sheet were as follows:

	Three months ended March 31
(in thousands)	2014			2013
Balance, beginning of period	$	43,106		$	48,431
Accretion expense	370			124
Liabilities incurred	—			—
Liabilities settled	(2,240		)	(642		)
Revisions in estimated cash flows	—			—
Balance, end of period	$	41,236		$	47,913

Schedule of consolidating statements of income (loss)

Consolidating Statement of Income (unaudited)

Three months ended March 31, 2014

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Revenues	$	512,455		104,931		102,693		—	(17	)	$	720,062
Expenses
Fuel oil	203,547			31,500		51,253		—	—		286,300
Purchased power	123,969			29,491		11,456		—	—		164,916
Other operation and maintenance	58,515			14,047		16,044		—	—		88,606
Depreciation	27,301			8,975		5,327		—	—		41,603
Taxes, other than income taxes	48,184			9,763		10,024		—	—		67,971
Total expenses	461,516			93,776		94,104		—	—		649,396
Operating income	50,939			11,155		8,589		—	(17	)	70,666
Allowance for equity funds used during construction	1,472			65		72		—	—		1,609
Equity in earnings of subsidiaries	8,917			—		—		—	(8,917	)	—
Interest expense and other charges, net	(10,487		)	(2,748	)	(2,505	)	—	17		(15,723		)
Allowance for borrowed funds used during construction	559			25		30		—	—		614
Income before income taxes	51,400			8,497		6,186		—	(8,917	)	57,166
Income taxes	15,710			3,202		2,335		—	—		21,247
Net income	35,690			5,295		3,851		—	(8,917	)	35,919
Preferred stock dividends of subsidiaries	—			134		95		—	—		229
Net income attributable to Hawaiian Electric	35,690			5,161		3,756		—	(8,917	)	35,690
Preferred stock dividends of Hawaiian Electric	270			—		—		—	—		270
Net income for common stock	$	35,420		5,161		3,756		—	(8,917	)	$	35,420

Consolidating Statement of Income (unaudited)

Three months ended March 31, 2013

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Revenues	$	507,058		106,012		104,399		—	(28	)	$	717,441
Expenses
Fuel oil	221,967			32,936		50,197		—	—		305,100
Purchased power	111,155			30,122		12,087		—	—		153,364
Other operation and maintenance	72,418			14,888		14,507		—	—		101,813
Depreciation	24,707			8,547		5,026		—	—		38,280
Taxes, other than income taxes	48,144			9,691		9,928		—	—		67,763
Total expenses	478,391			96,184		91,745		—	—		666,320
Operating income	28,667			9,828		12,654		—	(28	)	51,121
Allowance for equity funds used during construction	983			138		94		—	—		1,215
Equity in earnings of subsidiaries	10,985			—		—		—	(10,985	)	—
Interest expense and other charges, net	(9,590		)	(2,855	)	(2,102	)	—	28		(14,519		)
Allowance for borrowed funds used during construction	568			92		70		—	—		730
Income before income taxes	31,613			7,203		10,716		—	(10,985	)	38,547
Income taxes	6,914			2,649		4,056		—	—		13,619
Net income	24,699			4,554		6,660		—	(10,985	)	24,928
Preferred stock dividends of subsidiaries	—			134		95		—	—		229
Net income attributable to Hawaiian Electric	24,699			4,420		6,565		—	(10,985	)	24,699
Preferred stock dividends of Hawaiian Electric	270			—		—		—	—		270
Net income for common stock	$	24,429		4,420		6,565		—	(10,985	)	$	24,429

Schedule of consolidating statement of comprehensive income (loss)

Consolidating Statement of Comprehensive Income (Loss) (unaudited)

Three months ended March 31, 2014

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Net income for common stock	$	35,420		5,161		3,756		—	(8,917	)	$	35,420
Other comprehensive income (loss), net of taxes:
Retirement benefit plans:
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	2,519			344		253		—	(597	)	2,519
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(2,510		)	(344	)	(253	)	—	597		(2,510		)
Other comprehensive income, net of taxes	9			—		—		—	—		9
Comprehensive income attributable to common shareholder	$	35,429		5,161		3,756		—	(8,917	)	$	35,429

Consolidating Statement of Comprehensive Income (Loss) (unaudited)

Three months ended March 31, 2013

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Net income for common stock	$	24,429		4,420		6,565		—	(10,985	)	$	24,429
Other comprehensive income (loss), net of taxes:
Retirement benefit plans:
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	5,331			759		657		—	(1,416	)	5,331
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(5,313		)	(761	)	(656	)	—	1,417		(5,313		)
Other comprehensive income (loss), net of taxes	18			(2	)	1		—	1		18
Comprehensive income attributable to common shareholder	$	24,447		4,418		6,566		—	(10,984	)	$	24,447

Schedule of consolidating balance sheets

Consolidating Balance Sheet (unaudited)

March 31, 2014

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consoli- dating adjustments		Hawaiian Electric Consolidated
Assets
Property, plant and equipment
Utility property, plant and equipment
Land	$	43,367		5,462		3,016		—	—		$	51,845
Plant and equipment	3,606,787			1,141,789		1,014,323		—	—		5,762,899
Less accumulated depreciation	(1,234,520		)	(459,712	)	(440,228	)	—	—		(2,134,460		)
Construction in progress	127,187			9,657		11,758		—	—		148,602
Utility property, plant and equipment, net	2,542,821			697,196		588,869		—	—		3,828,886
Nonutility property, plant and equipment, less accumulated depreciation	4,953			82		1,531		—	—		6,566
Total property, plant and equipment, net	2,547,774			697,278		590,400		—	—		3,835,452
Investment in wholly owned subsidiaries, at equity	526,020			—		—		—	(526,020	)	—
Current assets
Cash and cash equivalents	12,952			2,442		1,864		101	—		17,359
Advances to affiliates	19,500			100		—		—	(19,600	)	—
Customer accounts receivable, net	114,517			26,004		23,495		—	—		164,016
Accrued unbilled revenues, net	96,721			17,330		17,813		—	—		131,864
Other accounts receivable, net	19,007			4,320		2,840		—	(9,477	)	16,690
Fuel oil stock, at average cost	134,673			13,012		20,662		—	—		168,347
Materials and supplies, at average cost	37,707			7,270		15,112		—	—		60,089
Prepayments and other	17,931			2,707		12,958		—	(1,297	)	32,299
Regulatory assets	62,643			6,958		7,854		—	—		77,455
Total current assets	515,651			80,143		102,598		101	(30,374	)	668,119
Other long-term assets
Regulatory assets	378,608			64,379		59,521		—	—		502,508
Unamortized debt expense	6,195			1,533		1,396		—	—		9,124
Other	42,110			11,351		13,925		—	—		67,386
Total other long-term assets	426,913			77,263		74,842		—	—		579,018
Total assets	$	4,016,358		854,684		767,840		101	(556,394	)	$	5,082,589
Capitalization and liabilities
Capitalization
Common stock equity	$	1,606,283		277,022		248,897		101	(526,020	)	$	1,606,283
Cumulative preferred stock—not subject to mandatory redemption	22,293			7,000		5,000		—	—		34,293
Long-term debt, net	830,546			189,999		186,000		—	—		1,206,545
Total capitalization	2,459,122			474,021		439,897		101	(526,020	)	2,847,121
Current liabilities
Current portion of long-term debt	—			11,400		—		—	—		11,400
Short-term borrowings from non-affiliates	34,996			—		—		—	—		34,996
Short-term borrowings from affiliate	100			—		19,500		—	(19,600	)	—
Accounts payable	151,818			18,953		12,055		—	—		182,826
Interest and preferred dividends payable	16,400			3,882		3,826		—	(8	)	24,100
Taxes accrued	133,801			31,545		29,685		—	(1,297	)	193,734
Regulatory liabilities	1,135			—		302		—	—		1,437
Other	47,374			9,950		14,621		—	(9,469	)	62,476
Total current liabilities	385,624			75,730		79,989		—	(30,374	)	510,969
Deferred credits and other liabilities
Deferred income taxes	365,668			80,454		68,919		—	—		515,041
Regulatory liabilities	236,468			78,142		34,869		—	—		349,479
Unamortized tax credits	46,658			14,457		14,429		—	—		75,544
Defined benefit pension and other postretirement benefit plans liability	199,070			27,750		30,781			—		257,601
Other	61,762			13,985		13,067		—	—		88,814
Total deferred credits and other liabilities	909,626			214,788		162,065		—	—		1,286,479
Contributions in aid of construction	261,986			90,145		85,889		—	—		438,020
Total capitalization and liabilities	$	4,016,358		854,684		767,840		101	(556,394	)	$	5,082,589

Consolidating Balance Sheet (unaudited)

December 31, 2013

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consoli- dating adjustments		Hawaiian Electric Consolidated
Assets
Property, plant and equipment
Utility property, plant and equipment
Land	$	43,407		5,460		3,016		—	—		$	51,883
Plant and equipment	3,558,569			1,136,923		1,006,383		—	—		5,701,875
Less accumulated depreciation	(1,222,129		)	(453,721	)	(435,379	)	—	—		(2,111,229		)
Construction in progress	124,494			7,709		11,030		—	—		143,233
Utility property, plant and equipment, net	2,504,341			696,371		585,050		—	—		3,785,762
Nonutility property, plant and equipment, less accumulated depreciation	4,953			82		1,532		—	—		6,567
Total property, plant and equipment, net	2,509,294			696,453		586,582		—	—		3,792,329
Investment in wholly owned subsidiaries,at equity	523,674			—		—		—	(523,674	)	—
Current assets
Cash and cash equivalents	61,245			1,326		153		101	—		62,825
Advances to affiliates	6,839			1,000		—		—	(7,839	)	—
Customer accounts receivable, net	121,282			28,088		26,078		—	—		175,448
Accrued unbilled revenues, net	107,752			17,100		19,272		—	—		144,124
Other accounts receivable, net	16,373			4,265		2,451		—	(9,027	)	14,062
Fuel oil stock, at average cost	99,613			14,178		20,296		—	—		134,087
Materials and supplies, at average cost	37,377			6,883		14,784		—	—		59,044
Prepayments and other	29,798			8,334		16,140		—	(1,415	)	52,857
Regulatory assets	54,979			6,931		7,828		—	—		69,738
Total current assets	535,258			88,105		107,002		101	(18,281	)	712,185
Other long-term assets
Regulatory assets	381,346			64,552		60,288		—	—		506,186
Unamortized debt expense	6,051			1,580		1,372		—	—		9,003
Other	42,163			11,270		13,993		—	—		67,426
Total other long-term assets	429,560			77,402		75,653		—	—		582,615
Total assets	$	3,997,786		861,960		769,237		101	(541,955	)	$	5,087,129
Capitalization and liabilities
Capitalization
Common stock equity	$	1,593,564		274,802		248,771		101	(523,674	)	$	1,593,564
Cumulative preferred stock—not subject to mandatory redemption	22,293			7,000		5,000		—	—		34,293
Long-term debt, net	830,547			189,998		186,000		—	—		1,206,545
Total capitalization	2,446,404			471,800		439,771		101	(523,674	)	2,834,402
Current liabilities
Current portion of long-term debt	—			11,400		—		—	—		11,400
Short-term borrowings from affiliate	1,000			—		6,839		—	(7,839	)	—
Accounts payable	145,062			24,383		20,114		—	—		189,559
Interest and preferred dividends payable	15,190			3,885		2,585		—	(8	)	21,652
Taxes accrued	175,790			37,899		37,171		—	(1,415	)	249,445
Regulatory liabilities	1,705			—		211		—	—		1,916
Other	48,443			9,033		15,424		—	(9,019	)	63,881
Total current liabilities	387,190			86,600		82,344		—	(18,281	)	537,853
Deferred credits and other liabilities
Deferred income taxes	359,621			79,947		67,593		—	—		507,161
Regulatory liabilities	235,786			76,475		35,122		—	—		347,383
Unamortized tax credits	44,931			14,245		14,363		—	—		73,539
Defined benefit pension and other postretirement benefit plans liability	202,396			28,427		31,339		—	—		262,162
Other	63,374			14,703		13,658		—	—		91,735
Total deferred credits and other liabilities	906,108			213,797		162,075		—	—		1,281,980
Contributions in aid of construction	258,084			89,763		85,047		—	—		432,894
Total capitalization and liabilities	$	3,997,786		861,960		769,237		101	(541,955	)	$	5,087,129

Schedule of consolidating statement of changes in common stock equity

Consolidating Statement of Changes in Common Stock Equity (unaudited)

Three months ended March 31, 2014

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Balance, December 31, 2013	$	1,593,564		274,802		248,771		101	(523,674	)	$	1,593,564
Net income for common stock	35,420			5,161		3,756		—	(8,917	)	35,420
Other comprehensive income, net of taxes	9			—		—		—	—		9
Common stock dividends	(22,707		)	(2,941	)	(3,629	)	—	6,570		(22,707		)
Common stock issuance expenses	(3		)	—		(1	)	—	1		(3		)
Balance, March 31, 2014	$	1,606,283		277,022		248,897		101	(526,020	)	$	1,606,283

Hawaiian Electric Company, Inc. and Subsidiaries

Consolidating Statement of Changes in Common Stock Equity (unaudited)

Three months ended March 31, 2013

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Balance, December 31, 2012	$	1,472,136		268,908		228,927		104	(497,939	)	$	1,472,136
Net income for common stock	24,429			4,420		6,565		—	(10,985	)	24,429
Other comprehensive income (loss), net of taxes	18			(2	)	1		—	1		18
Common stock dividends	(20,070		)	(3,610	)	(3,442	)	—	7,052		(20,070		)
Balance, March 31, 2013	$	1,476,513		269,716		232,051		104	(501,871	)	$	1,476,513

Schedule of Condensed consolidating statement of cash flows

Consolidating Statement of Cash Flows (unaudited)

Three months ended March 31, 2013

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Cash flows from operating activities
Net income	$	24,699		4,554		6,660		—	(10,985	)	$	24,928
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries	(11,010		)	—		—		—	10,985		(25		)
Common stock dividends received from subsidiaries	7,052			—		—		—	(7,052	)	—
Depreciation of property, plant and equipment	24,707			8,547		5,026		—	—		38,280
Other amortization	(8		)	358		607		—	—		957
Increase in deferred income taxes	13,572			2,755		1,648		—	—		17,975
Change in tax credits, net	1,299			(17	)	100		—	—		1,382
Allowance for equity funds used during construction	(983		)	(138	)	(94	)	—	—		(1,215		)
Changes in assets and liabilities:
Decrease (increase) in accounts receivable	34,652			(13	)	3,495		—	569		38,703
Decrease (increase) in accrued unbilled revenues	(1,707		)	(2,091	)	2,481		—	—		(1,317		)
Decrease (increase) in fuel oil stock	(30,155		)	2,056		(1,173	)	—	—		(29,272		)
Increase in materials and supplies	(1,853		)	(614	)	(878	)	—	—		(3,345		)
Increase in regulatory assets	(13,071		)	(2,464	)	(2,211	)	—	—		(17,746		)
Increase (decrease) in accounts payable	44,887			(903	)	(5,050	)	—	—		38,934
Change in prepaid and accrued income and utility revenue taxes	(41,093		)	(8,078	)	(4,495	)	—	—		(53,666		)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability	—			(57	)	10		—	—		(47		)
Change in other assets and liabilities	(4,413		)	2,464		1,493		—	(569	)	(1,025		)
Net cash provided by operating activities	46,575			6,359		7,619		—	(7,052	)	53,501
Cash flows from investing activities
Capital expenditures	(47,709		)	(10,118	)	(10,088	)	—	—		(67,915		)
Contributions in aid of construction	7,816			3,432		462		—	—		11,710
Advances from (to) affiliates	(3,600		)	1,400		—		—	2,200		—
Net cash used in investing activities	(43,493		)	(5,286	)	(9,626	)	—	2,200		(56,205		)
Cash flows from financing activities
Common stock dividends	(20,070		)	(3,610	)	(3,442	)	—	7,052		(20,070		)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(270		)	(134	)	(95	)	—	—		(499		)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	41,652			—		3,600		—	(2,200	)	43,052
Other	2			—		—		—	—		2
Net cash provided by (used in) financing activities	21,314			(3,744	)	63		—	4,852		22,485
Net increase (decrease) in cash and cash equivalents	24,396			(2,671	)	(1,944	)	—	—		19,781
Cash and cash equivalents, beginning of period	8,265			5,441		3,349		104	—		17,159
Cash and cash equivalents, end of period	$	32,661		2,770		1,405		104	—		$	36,940

Consolidating Statement of Cash Flows (unaudited)

Three months ended March 31, 2014

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Cash flows from operating activities
Net income	$	35,690		5,295		3,851		—	(8,917	)	$	35,919
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in earnings of subsidiaries	(8,942		)	—		—		—	8,917		(25		)
Common stock dividends received from subsidiaries	6,595			—		—		—	(6,570	)	25
Depreciation of property, plant and equipment	27,301			8,975		5,327		—	—		41,603
Other amortization	235			501		885		—	—		1,621
Increase in deferred income taxes	17,123			862		2,359		—	—		20,344
Change in tax credits, net	1,741			217		74		—	—		2,032
Allowance for equity funds used during construction	(1,472		)	(65	)	(72	)	—	—		(1,609		)
Change in cash overdraft	—			—		(1,038	)	—	—		(1,038		)
Changes in assets and liabilities:
Decrease in accounts receivable	4,131			2,029		2,194		—	450		8,804
Decrease (increase) in accrued unbilled revenues	11,031			(230	)	1,459		—	—		12,260
Decrease (increase) in fuel oil stock	(35,060		)	1,166		(366	)	—	—		(34,260		)
Increase in materials and supplies	(330		)	(387	)	(328	)	—	—		(1,045		)
Increase in regulatory assets	(8,188		)	(881	)	(189	)	—	—		(9,258		)
Decrease in accounts payable	(837		)	(6,032	)	(9,155	)	—	—		(16,024		)
Decrease in prepaid and accrued income and utility revenue taxes	(39,581		)	(2,791	)	(5,154	)	—	—		(47,526		)
Decrease in defined benefit pension and other postretirement benefit plans liability	(103		)	—		(102	)	—	—		(205		)
Change in other assets and liabilities	(10,874		)	1,041		(698	)	—	(450	)	(10,981		)
Net cash provided by (used in) operating activities	(1,540		)	9,700		(953	)	—	(6,570	)	637
Cash flows from investing activities
Capital expenditures	(49,432		)	(7,530	)	(7,500	)	—	—		(64,462		)
Contributions in aid of construction	4,541			1,121		1,296		—	—		6,958
Advances from (to) affiliates	(12,661		)	900		—		—	11,761		—
Net cash used in investing activities	(57,552		)	(5,509	)	(6,204	)	—	11,761		(57,504		)
Cash flows from financing activities
Common stock dividends	(22,707		)	(2,941	)	(3,629	)	—	6,570		(22,707		)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(270		)	(134	)	(95	)	—	—		(499		)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	34,096			—		12,661		—	(11,761	)	34,996
Other	(320		)	—		(69	)	—	—		(389		)
Net cash provided by (used in) financing activities	10,799			(3,075	)	8,868		—	(5,191	)	11,401
Net increase (decrease) in cash and cash equivalents	(48,293		)	1,116		1,711		—	—		(45,466		)
Cash and cash equivalents, beginning of period	61,245			1,326		153		101	—		62,825
Cash and cash equivalents, end of period	$	12,952		2,442		1,864		101	—		$	17,359