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Retirement benefits (Tables)
 12 Months Ended
Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]  
Schedule of changes in the obligations and assets of the Company's retirement benefit plans and the changes in AOCI (gross) and the funded status
The changes in the obligations and assets of the Company’s and Utilities' retirement benefit plans and the changes in AOCI (gross) for 2013 and 2012 and the funded status of these plans and amounts related to these plans reflected in the Company’s and Utilities' consolidated balance sheet as of December 31, 2013 and 2012 were as follows:
 
2013
 
2012
(in thousands)
Pension
benefits
 
Other
benefits
 
Pension
benefits
 
Other
benefits
HEI consolidated
 
 
 
 
 
 
 
Benefit obligation, January 1
$
1,590,304

 
$
194,135

 
$
1,322,430

 
$
190,549

Service cost
56,405

 
4,306

 
43,221

 
4,211

Interest cost
64,788

 
7,569

 
67,480

 
9,009

Actuarial losses (gains)
(203,302
)
 
(21,743
)
 
217,205

 
(1,991
)
Benefits paid and expenses
(61,904
)
 
(8,168
)
 
(60,032
)
 
(7,643
)
Benefit obligation, December 31
1,446,291

 
176,099

 
1,590,304

 
194,135

Fair value of plan assets, January 1
971,314

 
156,731

 
839,580

 
142,992

Actual return on plan assets
194,130

 
29,164

 
115,794

 
18,477

Employer contributions
82,083

 
954

 
74,923

 
2,780

Benefits paid and expenses
(60,858
)
 
(7,519
)
 
(58,983
)
 
(7,518
)
Fair value of plan assets, December 31
1,186,669

 
179,330

 
971,314

 
156,731

Accrued benefit asset (liability), December 31
$
(259,622
)
 
$
3,231

 
$
(618,990
)
 
$
(37,404
)
Other assets
$
24,948

 
$
7,200

 
$
—

 
$
—

Defined benefit pension and other postretirement benefit plans liability
(284,570
)
 
(3,969
)
 
(618,990
)
 
(37,404
)
Accrued benefit asset (liability), December 31
$
(259,622
)
 
$
3,231

 
$
(618,990
)
 
$
(37,404
)
AOCI debit/(credit), January 1 (excluding impact of PUC D&Os)
$
680,781

 
$
18,846

 
$
533,537

 
$
28,684

Recognized during year – net recognized transition obligation
—

 
—

 
(1
)
 
—

Recognized during year – prior service credit
97

 
1,793

 
325

 
1,793

Recognized during year – net actuarial losses
(38,438
)
 
(1,602
)
 
(25,675
)
 
(1,498
)
Occurring during year – net actuarial losses (gains)
(324,896
)
 
(40,759
)
 
172,595

 
(10,133
)
AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31
317,544

 
(21,722
)
 
680,781

 
18,846

Cumulative impact of PUC D&Os
(294,266
)
 
19,206

 
(621,310
)
 
(18,123
)
AOCI debit/(credit), December 31
$
23,278

 
$
(2,516
)
 
$
59,471

 
$
723

Net actuarial loss (gain)
$
317,639

 
$
(5,840
)
 
$
680,973

 
$
36,521

Prior service gain
(95
)
 
(15,882
)
 
(192
)
 
(17,675
)
AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31
317,544

 
(21,722
)
 
680,781

 
18,846

Cumulative impact of PUC D&Os
(294,266
)
 
19,206

 
(621,310
)
 
(18,123
)
AOCI debit/(credit), December 31
23,278

 
(2,516
)
 
59,471

 
723

Income taxes (benefits)
(9,180
)
 
980

 
(23,489
)
 
(281
)
AOCI debit/(credit), net of taxes (benefits), December 31
$
14,098

 
$
(1,536
)
 
$
35,982

 
$
442

 
 
 
 
 
 
 
 
 
2013
 
2012
(in thousands)
Pension
benefits
 
Other
benefits
 
Pension
benefits
 
Other
benefits
Hawaiian Electric consolidated
 
 
 
 
 
 
 
Benefit obligation, January 1
$
1,449,445

 
$
187,110

 
$
1,203,943

 
$
184,240

Service cost
54,482

 
4,163

 
41,603

 
4,014

Interest cost
59,119

 
7,288

 
61,453

 
8,703

Actuarial losses (gains)
(185,185
)
 
(20,900
)
 
197,718

 
(2,301
)
Benefits paid and expenses
(57,051
)
 
(8,082
)
 
(55,272
)
 
(7,546
)
Benefit obligation, December 31
1,320,810

 
169,579

 
1,449,445

 
187,110

Fair value of plan assets, January 1
861,778

 
154,186

 
752,285

 
140,764

Actual return on plan assets
172,822

 
28,700

 
103,941

 
18,206

Employer contributions
80,325

 
839

 
60,442

 
2,634

Benefits paid and expenses
(56,665
)
 
(7,434
)
 
(54,890
)
 
(7,418
)
Fair value of plan assets, December 31
1,058,260

 
176,291

 
861,778

 
154,186

Accrued benefit asset (liability), December 31
$
(262,550
)
 
$
6,712

 
$
(587,667
)
 
$
(32,924
)
Other assets
$
—

 
$
7,200

 
$
—

 
$
—

Other liabilities (short-term)
(388
)
 
(488
)
 
(386
)
 
—

Defined benefit pension and other postretirement benefit plans liability
(262,162
)
 
—

 
(587,281
)
 
(32,924
)
Accrued benefit asset (liability), December 31
$
(262,550
)
 
$
6,712

 
$
(587,667
)
 
$
(32,924
)
AOCI debit/(credit), January 1 (excluding impact of PUC D&Os)
$
623,588

 
$
17,432

 
$
488,556

 
$
27,390

Recognized during year – net recognized transition asset
—

 
—

 
—

 
9

Recognized during year – prior service credit
464

 
1,803

 
689

 
1,803

Recognized during year – net actuarial losses
(34,597
)
 
(1,544
)
 
(23,428
)
 
(1,455
)
Occurring during year – net actuarial losses (gains)
(293,482
)
 
(39,598
)
 
157,771

 
(10,315
)
AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31
295,973

 
(21,907
)
 
623,588

 
17,432

Cumulative impact of PUC D&Os
(294,266
)
 
19,206

 
(621,310
)
 
(18,123
)
AOCI debit/(credit), December 31
$
1,707

 
$
(2,701
)
 
$
2,278

 
$
(691
)
Net actuarial loss (gain)
$
295,825

 
$
(6,001
)
 
$
623,904

 
$
35,141

Prior service cost (gain)
148

 
(15,906
)
 
(316
)
 
(17,709
)
AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31
295,973

 
(21,907
)
 
623,588

 
17,432

Cumulative impact of PUC D&Os
(294,266
)
 
19,206

 
(621,310
)
 
(18,123
)
AOCI debit/(credit), December 31
1,707

 
(2,701
)
 
2,278

 
(691
)
Income taxes (benefits)
(664
)
 
1,050

 
(886
)
 
269

AOCI debit/(credit), net of taxes (benefits), December 31
$
1,043

 
$
(1,651
)
 
$
1,392

 
$
(422
)
Schedule of weighted-average asset allocation of defined benefit retirement plans
The weighted-average asset allocation of defined benefit retirement plans was as follows:
 
Pension benefits
 
Other benefits
 
 
 
 
 
Investment policy
 
 
 
 
 
Investment policy
December 31
2013

 
2012

 
Target

 
Range
 
2013

 
2012

 
Target

 
Range
Asset category
 

 
 

 
 

 
 
 
 

 
 

 
 

 
 
Equity securities
73
%
 
69
%
 
70
%
 
65-75
 
74
%
 
70
%
 
70
%
 
65-75
Fixed income
27

 
31

 
30

 
25-35
 
26

 
30

 
30

 
25-35
 
100
%
 
100
%
 
100
%
 
 
 
100
%
 
100
%
 
100
%
 
 
Schedule of weighted-average assumptions used in accounting for plans
The following weighted-average assumptions were used in the accounting for the plans:
 
Pension benefits
 
Other benefits
December 31
2013
 
2012
 
2011
 
2013
 
2012
 
2011
Benefit obligation
 
 
 
 
 
 
 
 
 
 
 
Discount rate
5.09
%
 
4.13
%
 
5.19
%
 
5.03
%
 
4.07
%
 
4.90
%
Rate of compensation increase
3.5

 
3.5

 
3.5

 
NA   

 
NA   

 
NA   

Net periodic benefit cost (years ended)
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.13

 
5.19

 
5.68

 
4.07

 
4.90

 
5.60

Expected return on plan assets
7.75

 
7.75

 
8.00

 
7.75

 
7.75

 
8.00

Rate of compensation increase
3.5

 
3.5

 
3.5

 
NA   

 
NA   

 
NA   

NA  Not applicable
Schedule of components of net periodic benefit cost for consolidated HEI
The components of NPBC were as follows:
 
Pension benefits
 
Other benefits
(in thousands)
2013
 
2012
 
2011
 
2013
 
2012
 
2011
HEI consolidated
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
56,405

 
$
43,221

 
$
35,016

 
$
4,306

 
$
4,211

 
$
4,409

Interest cost
64,788

 
67,480

 
64,966

 
7,569

 
9,009

 
9,534

Expected return on plan assets
(72,537
)
 
(71,183
)
 
(68,901
)
 
(10,147
)
 
(10,336
)
 
(10,650
)
Amortization of net transition obligation
—

 
1

 
2

 
—

 
—

 
—

Amortization of net prior service gain
(97
)
 
(325
)
 
(389
)
 
(1,793
)
 
(1,793
)
 
(1,494
)
Amortization of net actuarial loss
38,438

 
25,675

 
16,987

 
1,602

 
1,498

 
234

Net periodic benefit cost
86,997

 
64,869

 
47,681

 
1,537

 
2,589

 
2,033

Impact of PUC D&Os
(38,104
)
 
(15,754
)
 
(3,516
)
 
(1,458
)
 
(2,227
)
 
2,674

Net periodic benefit cost (adjusted for impact of PUC D&Os)
48,893

 
49,115

 
44,165

 
79

 
362

 
4,707

Hawaiian Electric consolidated
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
54,482

 
$
41,603

 
$
33,627

 
$
4,163

 
$
4,014

 
$
4,238

Interest cost
59,119

 
61,453

 
59,077

 
7,288

 
8,703

 
9,228

Expected return on plan assets
(64,551
)
 
(64,004
)
 
(61,615
)
 
(10,002
)
 
(10,195
)
 
(10,508
)
Amortization of net transition obligation
—

 
—

 
—

 
—

 
(9
)
 
(8
)
Amortization of net prior service gain
(464
)
 
(689
)
 
(747
)
 
(1,803
)
 
(1,803
)
 
(1,505
)
Amortization of net actuarial loss
34,597

 
23,428

 
15,752

 
1,544

 
1,455

 
212

Net periodic benefit cost
83,183

 
61,791

 
46,094

 
1,190

 
2,165

 
1,657

Impact of PUC D&Os
(38,104
)
 
(15,754
)
 
(3,516
)
 
(1,458
)
 
(2,227
)
 
2,674

Net periodic benefit cost (adjusted for impact of PUC D&Os)
$
45,079

 
$
46,037

 
$
42,578

 
$
(268
)
 
$
(62
)
 
$
4,331
Schedule of amounts in accumulated other comprehensive Income (loss) to be recognized over next fiscal year
The estimated prior service credit, net actuarial loss and net transition obligation for defined benefit plans that will be amortized from AOCI or regulatory assets into net periodic benefit cost during 2014 is as follows:
 
HEI consolidated
 
Hawaiian Electric consolidated
(in millions)
Pension benefits
 
Other benefits
 
Pension benefits
 
Other benefits
Estimated prior service cost (credit)
$
0.1

 
$
(1.8
)
 
$
0.1

 
$
(1.8
)
Net actuarial loss
20.2

 
—

 
18.2

 
—

Net transition obligation
—

 
—

 
—

 
—