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Segment financial information
9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Segment financial information
Segment financial information
(in thousands) 
 
Electric utility
 
Bank
 
Other
 
Total
Three months ended September 30, 2017
 
 

 
 

 
 

 
 

Revenues from external customers
 
$
598,756

 
$
74,289

 
$
140

 
$
673,185

Intersegment revenues (eliminations)
 
13

 

 
(13
)
 

Revenues
 
$
598,769

 
$
74,289

 
$
127

 
$
673,185

Income (loss) before income taxes
 
$
74,990

 
$
26,764

 
$
(6,615
)
 
$
95,139

Income taxes (benefit)
 
27,005

 
9,172

 
(1,582
)
 
34,595

Net income (loss)
 
47,985

 
17,592

 
(5,033
)
 
60,544

Preferred stock dividends of subsidiaries
 
498

 

 
(27
)
 
471

Net income (loss) for common stock
 
$
47,487

 
$
17,592

 
$
(5,006
)
 
$
60,073

Nine months ended September 30, 2017
 
 

 
 

 
 

 
 

Revenues from external customers
 
$
1,674,158

 
$
222,474

 
$
396

 
$
1,897,028

Intersegment revenues (eliminations)
 
97

 

 
(97
)
 

Revenues
 
$
1,674,255

 
$
222,474

 
$
299

 
$
1,897,028

Income (loss) before income taxes
 
$
150,715

 
$
75,720

 
$
(20,088
)
 
$
206,347

Income taxes (benefit)
 
54,623

 
25,582

 
(8,202
)
 
72,003

Net income (loss)
 
96,092

 
50,138

 
(11,886
)
 
134,344

Preferred stock dividends of subsidiaries
 
1,496

 

 
(79
)
 
1,417

Net income (loss) for common stock
 
$
94,596

 
$
50,138

 
$
(11,807
)
 
$
132,927

Total assets (at September 30, 2017)
 
$
6,107,501

 
$
6,618,907

 
$
16,442

 
$
12,742,850

Three months ended September 30, 2016
 
 

 
 

 
 

 
 

Revenues from external customers
 
$
572,208

 
$
73,708

 
$
139

 
$
646,055

Intersegment revenues (eliminations)
 
45

 

 
(45
)
 

Revenues
 
$
572,253

 
$
73,708

 
$
94

 
$
646,055

Income before income taxes
 
$
75,617

 
$
22,727

 
$
80,861

 
$
179,205

Income taxes
 
28,145

 
7,623

 
15,824

 
51,592

Net income
 
47,472

 
15,104

 
65,037

 
127,613

Preferred stock dividends of subsidiaries
 
498

 

 
(27
)
 
471

Net income for common stock
 
$
46,974

 
$
15,104

 
$
65,064

 
$
127,142

Nine months ended September 30, 2016
 
 

 
 

 
 

 
 

Revenues from external customers
 
$
1,549,602

 
$
213,297

 
$
360

 
$
1,763,259

Intersegment revenues (eliminations)
 
98

 

 
(98
)
 

Revenues
 
$
1,549,700

 
$
213,297

 
$
262

 
$
1,763,259

Income before income taxes
 
$
174,376

 
$
62,545

 
$
64,321

 
$
301,242

Income taxes
 
64,682

 
21,483

 
10,038

 
96,203

Net income
 
109,694

 
41,062

 
54,283

 
205,039

Preferred stock dividends of subsidiaries
 
1,496

 

 
(79
)
 
1,417

Net income for common stock
 
$
108,198

 
$
41,062

 
$
54,362

 
$
203,622

Total assets (at December 31, 2016)
 
$
5,975,428

 
$
6,421,357

 
$
28,721

 
$
12,425,506


 
Intercompany electricity sales of the Utilities to the bank and “other” segments are not eliminated because those segments would need to purchase electricity from another source if it were not provided by the Utilities and the profit on such sales is nominal.
Bank fees that ASB charges the Utilities and “other” segments are not eliminated because those segments would pay fees to another financial institution if they were to bank with another institution and the profit on such fees is nominal.
Pending acquisition of Hamakua power plant. In September 2017, HEI formed new 100% owned subsidiaries--Pacific Current, LLC and its subsidiary Hamakua Holdings, LLC and its subsidiary, Hamakua Energy, LLC.  Hamakua Energy, LLC has agreed to acquire Hamakua Energy Partners, L.P.’s (HEP’s) 60-megawatt power plant from an affiliate of ArcLight Capital Partners, a Boston-based private equity firm focused on energy infrastructure investments. The plant sells power to Hawaii Electric Light under an existing power purchase agreement (PPA) that expires in 2030, the terms of which will remain the same upon completion of the acquisition. Closing of the transaction is expected later in 2017.