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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues      
Total revenues $ 3,086,896 $ 3,219,850 $ 3,287,503
Expenses      
Total expenses 2,851,574 4,926,610 3,012,511
Operating income (loss)      
Operating income (loss) 235,322 (1,706,760) 274,992
Retirement defined benefits credit—other than service costs 3,482 3,754 4,014
Interest expense, net (117,334) (127,207) (125,532)
Allowance for borrowed funds used during construction 5,893 5,470 5,201
Allowance for equity funds used during construction 15,013 13,786 15,164
Interest income 36,929 19,362 9,105
Loss on sales of subsidiaries and equity-method investments and impairment loss on assets sold and held for sale (12,376) 0 (644)
Income (loss) from continuing operations before income taxes 166,929 (1,791,595) 182,300
Income tax expense (benefit) 40,648 (470,962) 34,534
Income (loss) from continuing operations 126,281 (1,320,633) 147,766
Dividends on and loss on redemption of preferred stock of Hawaiian Electric 3,161 1,890 1,890
Income (loss) from continuing operations for common stock 123,120 (1,322,523) 145,876
Income (loss) from discontinued operations 0 (103,486) 53,362
Net income (loss) for common stock $ 123,120 $ (1,426,009) $ 199,238
Continuing operations - Basic earnings (loss) per common share (in dollars per share) $ 0.71 $ (10.42) $ 1.33
Discontinued operations - Basic earnings (loss) per common share (in dollars per share) 0 (0.81) 0.49
Basic earnings (loss) per common share (in dollars per share) 0.71 (11.23) 1.82
Continuing operations - Diluted earnings (loss) per common share (in dollars per share) 0.71 (10.42) 1.33
Discontinued operations - Diluted earnings (loss) per common share (in dollars per share) 0 (0.81) 0.48
Diluted earnings (loss) per common share (in dollars per share) $ 0.71 $ (11.23) $ 1.81
Weighted-average number of common shares outstanding (in shares) 172,553 126,927 109,739
Net effect of potentially dilutive shares (share-based compensation programs) (in shares) 464 0 299
Weighted-average shares assuming dilution (in shares) 173,017 126,927 110,038
Electric utility      
Revenues      
Total revenues $ 3,071,182 $ 3,206,700 $ 3,269,521
Expenses      
Total expenses 2,791,396 4,818,558 2,967,363
Operating income (loss)      
Operating income (loss) 279,786 (1,611,858) 302,158
Other      
Revenues      
Total revenues 15,714 13,150 17,982
Expenses      
Total expenses 60,178 108,052 45,148
Operating income (loss)      
Operating income (loss) $ (44,464) $ (94,902) $ (27,166)