Quarterly information (unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of selected quarterly information

Selected quarterly information was as follows:

	Quarters ended								Years ended
(in thousands, except per share amounts)	March 31		June 30		Sept. 30		Dec. 31		December 31
HEI consolidated
2019
Revenues	$	661,615	$	715,485	$	771,535	$	725,966	$	2,874,601
Operating income1	77,937		72,634		97,308		100,795		348,674
Net income1	46,161		42,985		63,890		66,736		219,772
Net income for common stock1	45,688		42,512		63,419		66,263		217,882
Basic earnings per common share 1,2	0.42		0.39		0.58		0.61		2.00
Diluted earnings per common share 1,3	0.42		0.39		0.58		0.61		1.99
Dividends per common share	0.32		0.32		0.32		0.32		1.28
2018
Revenues	$	645,874	$	685,277	$	768,048	$	761,650	$	2,860,849
Operating income	71,889		78,799		98,064		84,604		333,356
Net income	40,720		46,527		66,371		50,046		203,664
Net income for common stock	40,247		46,054		65,900		49,573		201,774
Basic earnings per common share 2	0.37		0.42		0.61		0.46		1.85
Diluted earnings per common share 3	0.37		0.42		0.60		0.45		1.85
Dividends per common share	0.31		0.31		0.31		0.31		1.24
Hawaiian Electric consolidated
2019
Revenues	$	578,495	$	633,784	$	688,330	$	645,333	$	2,545,942
Operating income	56,560		55,694		71,793		70,331		254,378
Net income	32,625		33,073		47,277		45,860		158,835
Net income for common stock	32,126		32,574		46,779		45,361		156,840
2018
Revenues	$	570,427	$	608,126	$	687,409	$	680,563	2,546,525
Operating income	51,369		55,144		74,036		61,112		241,661
Net income	27,974		31,668		50,210		35,796		145,648
Net income for common stock	27,475		31,169		49,712		35,297		143,653

Note: HEI owns all of Hawaiian Electric’s common stock, therefore per share data for Hawaiian Electric is not meaningful.

¹  Operating income for the fourth quarter of 2019 includes gains on property sales totaling $10.8 million, and net income and net income for common stock includes $7.9 million (or $0.07 per share (basic and diluted) at ASB’s 26.8% statutory tax rate).

²  The quarterly basic earnings per common share are based upon the weighted-average number of shares of common stock outstanding in each quarter.

³  The quarterly diluted earnings per common share are based upon the weighted-average number of shares of common stock outstanding in each quarter plus the dilutive incremental shares at quarter end.