Cash flows - HECO

12 Months Ended

Dec. 31, 2011

Cash flows

12 · Cash flows

(in millions)	2011		2010	2009
Supplemental disclosures of cash flow information
Interest paid to non-affiliates	$  97		$  95	$106
Income taxes paid/(refunded)	(22	)	6	21
Supplemental disclosures of noncash activities
Common stock dividends reinvested in HEI common stock 1	12		23	17
Increases in common stock issued under director and officer compensatory plans	8		4	2
Electric utility property, plant and equipment
AFUDC-equity	6		6	12
Estimated fair value of noncash contributions in aid of construction	7		7	12
Unpaid invoices and other	45		21	16
Loans transferred from held for investment to held for sale	6		–	10
Real estate acquired in settlement of loans	12		7	5

1The amounts shown represents common stock dividends reinvested in HEI common stock under the HEI DRIP in noncash transactions.

Hawaiian Electric Company and Subsidiaries

Cash flows

8.  Cash flows

Supplemental disclosures of cash flow information

Years ended December 31	2011		2010		2009
(in thousands)
Interest paid to non-affiliates	$57,581		$56,184		$43,616
Income taxes paid/(refunded)	$(22,980	)	$(7,277	)	$24,309

Supplemental disclosures of noncash activities

In 2011, 2010 and 2009, HECO and its subsidiaries capitalized as part of the cost of electric utility plant an allowance for equity funds used during construction amounting to $6 million, $6 million and $12 million, respectively.

In 2011, 2010 and 2009, the estimated fair value of noncash contributions in aid of construction was $7 million, $7 million and $12 million, respectively.

In 2011, 2010 and 2009, the amount of unpaid invoices and other non-cash items related to property, plant and equipment was $45 million, $21 million and $16 million, respectively.

In December 2009, HECO sold $93 million of its common stock to HEI. HECO received $62 million of cash from HEI and reduced its intercompany note payable to HEI by $31 million in a noncash transaction.