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Consolidated Statements of Income - HECO - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues $ 3,682,166 $ 3,741,985 $ 2,850,379
Expenses      
Total expenses 3,329,562 3,360,912 2,464,313
Operating income 352,604 381,073 386,066
Allowance for equity funds used during construction 15,164 10,574 9,534
Retirement defined benefits credit—other than service costs 4,768 4,411 5,848
Allowance for borrowed funds used during construction 5,201 3,416 3,250
Interest income 9,105 0 0
Income before income taxes 245,701 304,195 310,863
Income taxes 44,573 61,167 62,807
Net income 201,128 243,028 248,056
Preferred stock dividends of Hawaiian Electric 1,890 1,890 1,890
Net income for common stock 199,238 241,138 246,166
Hawaiian Electric Company, Inc. and Subsidiaries      
Revenues 3,269,521 3,408,587 2,539,636
Expenses      
Fuel oil 1,211,420 1,265,614 644,349
Purchased power 671,769 793,584 670,494
Other operation and maintenance 533,557 497,601 475,412
Depreciation 243,705 235,424 229,469
Taxes, other than income taxes 306,912 317,173 240,354
Total expenses 2,967,363 3,109,396 2,260,078
Operating income 302,158 299,191 279,558
Allowance for equity funds used during construction 15,164 10,574 9,534
Retirement defined benefits credit—other than service costs 4,303 3,835 3,890
Interest expense and other charges, net (86,140) (76,416) (72,447)
Allowance for borrowed funds used during construction 5,201 3,416 3,250
Interest income 6,454 0 0
Income before income taxes 247,140 240,600 223,785
Income taxes 51,193 49,676 44,148
Net income (loss) 195,947 190,924 179,637
Preferred stock dividends of subsidiaries 915 915 915
Net income 195,032 190,009 178,722
Preferred stock dividends of Hawaiian Electric 1,080 1,080 1,080
Net income for common stock $ 193,952 $ 188,929 $ 177,642