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Condensed Consolidated Statements of Income (unaudited) - HECO - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Revenues $ 790,610 $ 833,239 $ 2,281,072 $ 2,420,670
Expenses        
Total expenses 738,564 982,959 2,112,859 4,181,092
Operating income (loss) 52,046 (149,720) 168,213 (1,760,422)
Allowance for equity funds used during construction 3,821 3,300 11,108 10,276
Retirement defined benefits credit—other than service costs 817 849 2,653 2,851
Allowance for borrowed funds used during construction 1,500 1,331 4,379 4,061
Interest income 6,960 3,662 27,162 9,929
Income (loss) before income taxes 39,946 (172,663) 113,460 (1,829,381)
Income tax expense (benefit) 8,728 (49,954) 28,540 (479,109)
Net income (loss) attributable to Hawaiian Electric     84,920 (1,356,347)
Preferred stock dividends of Hawaiian Electric 471 471 1,417 1,417
Net income (loss) for common stock 30,747 (104,402) 83,503 (1,357,764)
Hawaiian Electric Company, Inc. and Subsidiaries        
Revenues        
Revenues 787,428 829,617 2,268,276 2,410,526
Expenses        
Fuel oil 240,547 279,038 689,855 821,986
Purchased power 183,813 189,165 505,493 530,310
Other operation and maintenance 161,819 162,197 463,144 453,648
Wildfire tort-related claims (Note 2) 0 163,000 0 1,875,000
Depreciation 64,022 62,812 192,015 188,436
Taxes, other than income taxes 74,434 77,969 214,495 226,795
Total expenses 724,635 934,181 2,065,002 4,096,175
Operating income (loss) 62,793 (104,564) 203,274 (1,685,649)
Allowance for equity funds used during construction 3,821 3,300 11,108 10,276
Retirement defined benefits credit—other than service costs 998 959 3,101 3,103
Interest expense and other charges, net (22,114) (20,223) (66,272) (61,625)
Allowance for borrowed funds used during construction 1,500 1,331 4,379 4,061
Interest income 1,461 1,671 4,657 4,555
Income (loss) before income taxes 48,459 (117,526) 160,247 (1,725,279)
Income tax expense (benefit) 10,973 (35,439) 34,797 (454,017)
Net income (loss) 37,486 (82,087) 125,450 (1,271,262)
Preferred stock dividends of subsidiaries 228 228 686 686
Net income (loss) attributable to Hawaiian Electric 37,258 (82,315) 124,764 (1,271,948)
Preferred stock dividends of Hawaiian Electric 270 270 810 810
Net income (loss) for common stock $ 36,988 $ (82,585) $ 123,954 $ (1,272,758)