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Share-based compensation (Tables)
 6 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of share-based compensation expense and related income tax benefit
Share-based compensation expense and the related income tax benefit were as follows:
 
 
Three months ended June 30
 
Six months ended June 30
(in millions)
 
2016
 
2015
 
2016
 
2015
HEI consolidated
 
 
 
 
 
 
 
 
Share-based compensation expense 1
 
$
1.0

 
$
2.0

 
$
2.0

 
$
3.8

Income tax benefit
 
0.4

 
0.7

 
0.7

 
1.4

Hawaiian Electric consolidated
 
 
 
 
 
 
 
 
Share-based compensation expense 1
 
0.3

 
0.7

 
0.6

 
1.2

Income tax benefit
 
0.1

 
0.3

 
0.2

 
0.5

1 
For the three and six months ended June 30, 2016, the Company has not capitalized any share-based compensation. $0.05 million and $0.09 million of this share-based compensation expense was capitalized in the three and six months ended June 30, 2015.
Schedule of common stock granted to nonemployee directors
HEI granted HEI common stock to nonemployee directors of HEI, Hawaiian Electric and ASB under the 2011 Director Plan as follows:
 
 
Six months ended June 30
($ in millions)
 
2016
 
2015
Shares granted
 
—

 
28,246

Fair value
 
$
—

 
$
0.8

Income tax benefit
 
—

 
0.3
Schedule of stock appreciation rights by grant year
SARs activity and statistics were as follows:
 
Three months ended June 30
 
Six months ended June 30
(dollars in thousands, except prices)
2015
 
2015
Shares underlying SARs exercised
—

 
80,000

Weighted-average price of shares exercised
$
—

 
$
26.18

Intrinsic value of shares exercised 1
—

 
502

Tax benefit realized for the deduction of exercises
—

 
82


1 Intrinsic value is the amount by which the fair market value of the underlying stock and the related dividend equivalent rights exceeds the exercise price of the right.
Schedule of restricted stock units
Information about HEI’s grants of restricted stock units was as follows:
 
Three months ended June 30
 
Six months ended June 30
 
2016
 
2015
 
2016
 
2015
 
Shares
 
(1)
 
Shares
 
(1)
 
Shares
 
(1)
 
Shares
 
(1)
Outstanding, beginning of period
226,537

 
$
29.59

 
261,691

 
$
28.33

 
210,634

 
$
28.82

 
261,235

 
$
25.77

Granted
—


—

 
788

 
31.25

 
94,282


29.90

 
85,082


33.72

Vested
(785
)
 
27.88

 
(832
)
 
26.60

 
(79,164
)
 
27.91

 
(80,051
)
 
25.77

Forfeited
—

 
—

 
(9,345
)
 
28.36

 
—

 
—

 
(13,964
)
 
27.52

Outstanding, end of period
225,752

 
$
29.59

 
252,302

 
$
28.35

 
225,752

 
$
29.59

 
252,302

 
$
28.35

Total weighted-average grant-date fair value of shares granted ($ millions)
$
—

 
 
 
$
—

 
 
 
$
2.8

 
 
 
$
2.9

 
 
(1)
Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.
Schedule of Long-Term Incentive Plan (LTIP) linked to total return to shareholders
Information about HEI’s LTIP grants linked to TRS was as follows:
 
Three months ended June 30
 
Six months ended June 30
 
2016
 
2015
 
2016
 
2015
 
Shares
 
(1)
 
Shares
 
(1)
 
Shares
 
(1)
 
Shares
 
(1)
Outstanding, beginning of period
83,947

 
$
22.95

 
168,777

 
$
27.63

 
162,500

 
$
27.66

 
257,956

 
$
28.45

Granted (target level)
—

 
—

 
—

 
—

 
—

 
—

 
—


—

Vested (issued or unissued and cancelled)
—

 
—

 
—

 
—

 
(78,553
)
 
32.69

 
(75,915
)
 
30.71

Forfeited
—

 
—

 
(5,354
)
 
27.42

 
—

 
—

 
(18,618
)
 
26.41

Outstanding, end of period
83,947

 
$
22.95

 
163,423

 
$
27.63

 
83,947

 
$
22.95

 
163,423

 
$
27.63

(1)
Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model.
Schedule of Long-Term Incentive Plan (LTIP) linked to other performance conditions
Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows:
 
Three months ended June 30
 
Six months ended June 30
 
2016
 
2015
 
2016
 
2015
 
Shares
 
(1)
 
Shares
 
(1)
 
Shares
 
(1)
 
Shares
 
(1)
Outstanding, beginning of period
113,550

 
$
25.18

 
230,219

 
$
26.00

 
222,647

 
$
26.02

 
364,731

 
$
26.01

Granted (target level)
—

 
—

 
—


—

 
—

 
—

 
—


—

Vested (issued)
—

 
—

 
—

 
—

 
(109,097
)
 
26.89

 
(121,249
)
 
26.05

Forfeited
—

 
—

 
(10,061
)
 
26.02

 
—

 
—

 
(23,324
)
 
25.85

Outstanding, end of period
113,550

 
$
25.18

 
220,158

 
$
26.00

 
113,550

 
$
25.18

 
220,158

 
$
26.00

(1)
Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.