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Consolidated Statements of Income (unaudited) - HECO - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Total revenues $ 566,244 $ 623,912 $ 1,117,204 $ 1,261,774
Operating expenses        
Purchased power 139,000 149,000 255,000 285,000
Total expenses 480,789 551,182 962,898 1,119,538
Total operating income 85,455 72,730 154,306 142,236
Allowance for equity funds used during construction 1,997 1,896 3,736 3,309
Allowance for borrowed funds used during construction 760 682 1,422 1,181
Income taxes 26,310 20,911 44,611 40,890
Net income 44,601 35,491 77,426 67,830
Preferred stock dividends of subsidiaries 473 473 946 946
Net income for common stock 44,128 35,018 76,480 66,884
Hawaiian Electric Company, Inc. and Subsidiaries        
Total revenues 495,395 558,163 977,447 1,131,605
Operating expenses        
Fuel oil 91,899 146,231 205,639 323,037
Purchased power 139,058 149,284 254,917 285,291
Other operation and maintenance 99,563 98,864 203,471 202,866
Depreciation 46,760 44,241 93,541 88,484
Taxes, other than income taxes 47,429 53,382 93,867 108,130
Total expenses 424,709 492,002 851,435 1,007,808
Total operating income 70,686 66,161 126,012 123,797
Allowance for equity funds used during construction 1,997 1,896 3,736 3,309
Interest expense and other charges, net (15,103) (16,288) (32,411) (32,613)
Allowance for borrowed funds used during construction 760 682 1,422 1,181
Income before income taxes 58,340 52,451 98,759 95,674
Income taxes 21,984 19,111 36,537 34,961
Net income 36,356 33,340 62,222 60,713
Preferred stock dividends of subsidiaries 229 229 458 458
Net income attributable to Hawaiian Electric 36,127 33,111 61,764 60,255
Preferred stock dividends of Hawaiian Electric 270 270 540 540
Net income for common stock $ 35,857 $ 32,841 $ 61,224 $ 59,715