Cash flows - HECO

6 Months Ended

Jun. 30, 2011

Cash flows

11 · Cash flows

Supplemental disclosures of cash flow information.  For the six months ended June 30, 2011 and 2010, the Company paid interest to non-affiliates amounting to $50 million and $46 million, respectively.

For the six months ended June 30, 2011 and 2010, the Company paid/(received) income taxes amounting to $(21) million and $44 million, respectively. Income taxes were received in 2011 primarily due to the refunding of estimated tax payments made prior to the extension of bonus depreciation provisions.

Supplemental disclosures of noncash activities.  Under the HEI Dividend Reinvestment and Stock Purchase Plan (DRIP), common stock dividends reinvested by shareholders in HEI common stock in noncash transactions amounted to $12 million and $11 million for the six months ended June 30, 2011 and 2010, respectively.

Noncash increases in common stock for director and officer compensatory plans of the Company were $5.6 million and $2.3 million for the six months ended June 30, 2011 and 2010, respectively.

Real estate acquired in settlement of loans in noncash transactions amounted to $5 million and $2 million for the six months ended June 30, 2011 and 2010, respectively.

Hawaiian Electric Company, Inc. and Subsidiaries

Cash flows

6 · Cash flows

Supplemental disclosures of cash flow information.  For the six months ended June 30, 2011 and 2010, HECO and its subsidiaries paid interest amounting to $29 million and $28 million, respectively.

For the six months ended June 30, 2011 and 2010, HECO and its subsidiaries paid/(received) income taxes amounting to $(27) million and $37 million, respectively. Income taxes were received in 2011 primarily due to the refunding of estimated tax payments made prior to the extension of bonus depreciation provisions.

Supplemental disclosure of noncash activities.  The allowance for equity funds used during construction, which was charged to construction in progress as part of the cost of electric utility plant, amounted to $2.6 million and $3.6 million for the six months ended June 30, 2011 and 2010, respectively.

Noncash capital expenditures were $10 million and $7 million for the six months ended June 30, 2011 and 2010, respectively.