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Share-based compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of share-based compensation expense and related income tax benefit
Share-based compensation expense and the related income tax benefit were as follows:
(in millions)
2016

 
2015

 
2014

HEI consolidated
 
 
 
 
 
Share-based compensation expense1
$
4.8

 
$
6.5

 
$
9.3

Income tax benefit
1.6

 
2.3

 
3.4

Hawaiian Electric consolidated
 
 
 
 
 
Share-based compensation expense1
1.4

 
1.9

 
3.1

Income tax benefit
0.5

 
0.7

 
1.2

1 
For 2016, the Company has not capitalized any share-based compensation. $0.15 million and $0.16 million of this share-based compensation expense was capitalized in 2015 and 2014, respectively.
Schedule of common stock granted to nonemployee directors
HEI granted HEI common stock to nonemployee directors of HEI, Hawaiian Electric and ASB under the 2011 Director Plan as follows:
(dollars in millions)
2016

 
2015

 
2014

Shares granted
19,846

 
28,246

 
33,170

Fair value
$
0.6

 
$
0.8

 
$
0.8

Income tax benefit
0.2

 
0.3

 
0.3
Summary of information about stock appreciation rights
Information about HEI’s SARs is summarized as follows:
 
2015
 
2014
 
Shares
 
(1)
 
Shares
 
(1)
Outstanding, January 1
80,000

 
$
26.18

 
164,000

 
$
26.12

Granted
—

 
—

 
—

 
—

Exercised
(80,000
)
 
26.18

 
(22,000
)
 
26.18

Forfeited
—

 
—

 
(62,000
)
 
26.02

Expired
—

 
—

 
—

 
—

Outstanding, December 31
—

 
$
—

 
80,000

 
$
26.18

Exercisable, December 31
—

 
$
—

 
80,000

 
$
26.18

(1)
Weighted-average exercise price
Schedule of stock appreciation rights activity and statistics
SARs activity and statistics were as follows:
(in thousands)
2015

 
2014

Intrinsic value of shares exercised 1
$
502

 
$
29

Tax benefit realized for the deduction of exercises
82

 
11

1 
Intrinsic value is the amount by which the fair market value of the underlying stock and the related dividend equivalent rights exceeds the exercise price of the right.
Schedule of restricted share and stock awards
Information about HEI’s grants of restricted shares and restricted stock awards was as follows:
 
 
2014
 
 
Shares 
(1)
Outstanding, January 1
 
4,503

 
$
22.21

Granted
 
—

 
—

Vested
 
(4,503
)
 
22.21

Forfeited
 
—

 
—

Outstanding, December 31
 
—

 
$
—

(1)
Weighted-average grant-date fair value per share based on the closing or average price of HEI common stock on the date of grant.
Schedule of restricted stock units
Information about HEI’s grants of restricted stock units was as follows:
 
2016
 
2015
 
2014
 
Shares 

 
(1)
 
Shares 

 
(1)
 
Shares 

 
(1)
Outstanding, January 1
210,634

 
$
28.82

 
261,235

 
$
25.77

 
288,151

 
$
25.17

Granted
114,431

 
29.70

 
85,772

 
33.69

 
117,786

 
25.17

Vested
(85,003
)
 
27.84

 
(102,173
)
 
25.67

 
(144,702
)
 
24.09

Forfeited
(19,379
)
 
29.82

 
(34,200
)
 
27.09

 
—

 
—

Outstanding, December 31
220,683

 
$
29.57

 
210,634

 
$
28.82

 
261,235

 
$
25.77

Total weighted-average grant-date fair value of shares granted ($ millions)
$
3.4

 
 
 
$
2.9

 
 
 
$
3.0

 
 
(1)
Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.
Schedule of long-term incentive plan (LTIP) linked to total return to shareholders
Information about HEI’s LTIP grants linked to TRS was as follows:
 
2016
 
2015
 
2014
 
Shares

 
(1)
 
Shares

 
(1)
 
Shares

 
(1)
Outstanding, January 1
162,500

 
$
27.66

 
257,956

 
$
28.45

 
232,127

 
$
32.88

Granted
—

 
—

 
—

 
—

 
97,524

 
22.95

Vested (lapsed because goal not met)
(78,553
)
 
32.69

 
(75,915
)
 
30.71

 
(70,189
)
 
35.46

Forfeited
(841
)
 
22.95

 
(19,541
)
 
26.25

 
(1,506
)
 
28.32

Outstanding, December 31
83,106

 
$
22.95

 
162,500

 
$
27.66

 
257,956

 
$
28.45

Total weighted-average grant-date fair value of shares granted ($ millions)
$
—

 
 
 
$
—

 
 
 
$
2.2

 
 
(1)
Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model.
Schedule of assumptions used to determine the fair value of Long-Term Incentive Plan (LTIP) linked to total return to shareholders (TRS)
The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TRS and the resulting fair value of LTIP awards granted:
 
 
2014

Risk-free interest rate
 
0.66
%
Expected life in years
 
3

Expected volatility
 
17.8
%
Range of expected volatility for Peer Group
 
12.4% to 23.3%

Grant date fair value (per share)
 
$
22.95
Schedule of long-term incentive plan (LTIP) linked to other performance conditions
Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows:
 
2016
 
2015
 
2014
 
Shares

 
(1)
 
Shares

 
(1)
 
Shares

 
(1)
Outstanding, January 1
222,647

 
$
26.02

 
364,731

 
$
26.01

 
296,843

 
$
26.14

Granted
—

 
—

 
—

 
—

 
129,603

 
25.18

Vested and settled
(109,097
)
 
26.89

 
(121,249
)
 
26.05

 
(65,089
)
 
24.95

Increase above target (cancelled)
(1,989
)
 
25.26

 
3,412

 
26.89

 
4,949

 
26.70

Forfeited
(1,745
)
 
25.19

 
(24,247
)
 
25.82

 
(1,575
)
 
26.07

Outstanding, December 31
109,816

 
$
25.18

 
222,647

 
$
26.02

 
364,731

 
$
26.01

Total weighted-average grant-date fair value of shares granted (at target performance levels) ($ millions)
$
—

 
 
 
$
—

 
 
 
$
3.3

 
 
(1)
Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.