XML 20 R2.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues    
Revenues $ 785,068 $ 642,946
Expenses    
Total expenses 685,792 544,915
Operating income (loss)    
Total operating income 99,276 98,031
Retirement defined benefits credit—other than service costs 1,243 2,435
Interest expense, net—other than on deposit liabilities and other bank borrowings (24,349) (23,736)
Allowance for borrowed funds used during construction 778 747
Allowance for equity funds used during construction 2,409 2,191
Gain on sales of investment securities, net and equity-method investment 8,123 528
Income before income taxes 87,480 80,196
Income taxes 17,840 15,365
Net income attributable to Hawaiian Electric 69,640 64,831
Preferred stock dividends of subsidiaries 473 473
Net income for common stock $ 69,167 $ 64,358
Basic earnings per common share (in dollars per share) $ 0.63 $ 0.59
Diluted earnings per common share (in dollars per share) $ 0.63 $ 0.59
Weighted-average number of common shares outstanding (in shares) 109,361 109,221
Net effect of potentially dilutive shares (in shares) 273 271
Weighted-average shares assuming dilution (in shares) 109,634 109,492
Electric utility    
Revenues    
Revenues $ 708,792 $ 564,864
Expenses    
Total expenses 635,197 495,750
Operating income (loss)    
Total operating income 73,595 69,114
Income before income taxes 59,446 55,090
Income taxes 12,538 11,233
Net income attributable to Hawaiian Electric 46,908 43,857
Preferred stock dividends of subsidiaries 499 499
Net income for common stock 46,409 43,358
Bank    
Revenues    
Revenues 75,115 77,131
Expenses    
Total expenses 45,085 41,835
Operating income (loss)    
Total operating income 30,030 35,296
Income before income taxes 30,215 37,102
Income taxes 6,345 7,546
Net income attributable to Hawaiian Electric 23,870 29,556
Preferred stock dividends of subsidiaries 0 0
Net income for common stock 23,870 29,556
Other    
Revenues    
Revenues 1,161 951
Expenses    
Total expenses 5,510 7,330
Operating income (loss)    
Total operating income (4,349) (6,379)
Income before income taxes (2,181) (11,996)
Income taxes (1,043) (3,414)
Net income attributable to Hawaiian Electric (1,138) (8,582)
Preferred stock dividends of subsidiaries (26) (26)
Net income for common stock $ (1,112) $ (8,556)