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Consolidated Statements of Income (unaudited) - HECO - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Total revenues $ 637,862 $ 783,749
Operating expenses    
Purchased power 136,000 165,000
Total expenses 568,356 694,535
Operating income 69,506 89,214
Allowance for equity funds used during construction [1] 1,413 1,609
Allowance for borrowed funds used during construction 499 614
Income taxes 19,979 25,721
Net income [1] 32,339 46,260
Preferred stock dividends of subsidiaries 473 473
Net income for common stock 31,866 45,787
Hawaiian Electric Company, Inc. and Subsidiaries    
Total revenues 573,442 720,062
Operating expenses    
Fuel oil 176,806 286,300
Purchased power 136,007 164,916
Other operation and maintenance 104,002 88,606
Depreciation 44,243 41,603
Taxes, other than income taxes 54,748 67,971
Total expenses 515,806 649,396
Operating income 57,636 70,666
Allowance for equity funds used during construction [1] 1,413 1,609
Interest expense and other charges, net (16,325) (15,723)
Allowance for borrowed funds used during construction 499 614
Income before income taxes 43,223 57,166
Income taxes 15,850 21,247
Net income [1] 27,373 35,919
Preferred stock dividends of subsidiaries 229 229
Net income attributable to Hawaiian Electric 27,144 35,690
Preferred stock dividends of Hawaiian Electric 270 270
Net income for common stock $ 26,874 $ 35,420
[1] As restated - See Note 1, “Basis of presentation - Restatement of previously issued financial statements.”