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Condensed Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues    
Total revenues $ 645,874 $ 591,562
Expenses    
Purchased power 140,000 127,000
Total expenses 573,985 521,824
Operating income (loss)    
Total operating income 71,889 69,738
Retirement defined benefits expense—other than service costs (1,833) (1,876)
Interest expense, net—other than on deposit liabilities and other bank borrowings (21,518) (19,568)
Allowance for borrowed funds used during construction 1,444 889
Allowance for equity funds used during construction 3,294 2,399
Income before income taxes 53,276 51,582
Income taxes 12,556 16,916
Net income 40,720 34,666
Preferred stock dividends of subsidiaries 473 473
Net income for common stock $ 40,247 $ 34,193
Basic earnings per common share (in dollars per share) $ 0.37 $ 0.31
Diluted earnings per common share (in dollars per share) 0.37 0.31
Dividends declared per common share (in dollars per share) $ 0.31 $ 0.31
Weighted-average number of common shares outstanding (in shares) 108,818 108,674
Net effect of potentially dilutive shares (in shares) 206 184
Weighted-average shares assuming dilution (in shares) 109,024 108,858
Hawaiian Electric Company, Inc. and Subsidiaries    
Revenues    
Total revenues $ 570,427 $ 518,611
Expenses    
Fuel oil 166,968 144,270
Purchased power 139,910 127,124
Other operation and maintenance 107,610 98,817
Depreciation 50,466 48,216
Taxes, other than income taxes 54,104 49,823
Total expenses 519,058 468,250
Operating income (loss)    
Total operating income 51,369 50,361
Retirement defined benefits expense—other than service costs (1,264) (1,423)
Allowance for borrowed funds used during construction 1,444 889
Allowance for equity funds used during construction 3,294 2,399
Interest expense and other charges, net (17,694) (17,504)
Income before income taxes 37,149 34,722
Income taxes 9,175 12,758
Net income 27,974 21,964
Preferred stock dividends of subsidiaries 229 229
Net income attributable to Hawaiian Electric 27,745 21,735
Preferred stock dividends of Hawaiian Electric 270 270
Net income for common stock 27,475 21,465
Electric utility    
Revenues    
Total revenues 570,427 518,611
Expenses    
Total expenses 519,058 468,250
Operating income (loss)    
Total operating income 51,369 50,361
Income before income taxes 37,149 34,722
Income taxes 9,175 12,758
Net income 27,974 21,964
Preferred stock dividends of subsidiaries 499 499
Net income for common stock 27,475 21,465
Bank    
Revenues    
Total revenues 75,419 72,856
Expenses    
Total expenses 50,532 48,501
Operating income (loss)    
Total operating income 24,887 24,355
Income before income taxes 24,500 24,160
Income taxes 5,540 8,347
Net income 18,960 15,813
Preferred stock dividends of subsidiaries 0 0
Net income for common stock 18,960 15,813
Other    
Revenues    
Total revenues 28 95
Expenses    
Total expenses 4,395 5,073
Operating income (loss)    
Total operating income (4,367) (4,978)
Income before income taxes (8,373) (7,300)
Income taxes (2,159) (4,189)
Net income (6,214) (3,111)
Preferred stock dividends of subsidiaries (26) (26)
Net income for common stock $ (6,188) $ (3,085)