XML 34 R11.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Income - HECO - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues $ 3,741,985 $ 2,850,379 $ 2,579,775
Expenses      
Total expenses 3,360,912 2,464,313 2,268,282
Operating income 381,073 386,066 311,493
Allowance for equity funds used during construction 10,574 9,534 8,768
Retirement defined benefits credit (expense)—other than service costs 4,411 5,848 (3,210)
Allowance for borrowed funds used during construction 3,416 3,250 2,992
Income before income taxes 304,195 310,863 240,624
Income taxes 61,167 62,807 40,910
Net income 243,028 248,056 199,714
Preferred stock dividends of Hawaiian Electric 1,890 1,890 1,890
Net income for common stock 241,138 246,166 197,824
Hawaiian Electric Company, Inc. and Subsidiaries      
Revenues 3,408,587 2,539,636 2,265,320
Expenses      
Fuel oil 1,265,614 644,349 515,274
Purchased power 793,584 670,494 568,749
Other operation and maintenance 497,601 475,412 474,192
Depreciation 235,424 229,469 222,733
Taxes, other than income taxes 317,173 240,354 215,822
Total expenses 3,109,396 2,260,078 1,996,770
Operating income 299,191 279,558 268,550
Allowance for equity funds used during construction 10,574 9,534 8,768
Retirement defined benefits credit (expense)—other than service costs 3,835 3,890 (763)
Interest expense and other charges, net (76,416) (72,447) (67,794)
Allowance for borrowed funds used during construction 3,416 3,250 2,992
Income before income taxes 240,600 223,785 211,753
Income taxes 49,676 44,148 40,418
Net income (loss) 190,924 179,637 171,335
Preferred stock dividends of subsidiaries 915 915 915
Net income 190,009 178,722 170,420
Preferred stock dividends of Hawaiian Electric 1,080 1,080 1,080
Net income for common stock $ 188,929 $ 177,642 $ 169,340