Electric utility segment (Tables)

3 Months Ended

Mar. 31, 2018

Regulatory Projects and Legal Obligations [Line Items]

Schedule of condensed consolidating statements of income (loss)

Statements of Income Data

	Three months ended March 31
(in thousands)	2018		2017
Interest and dividend income
Interest and fees on loans	$	52,800	$	50,742
Interest and dividends on investment securities	9,202		6,980
Total interest and dividend income	62,002		57,722
Interest expense
Interest on deposit liabilities	2,957		2,103
Interest on other borrowings	496		816
Total interest expense	3,453		2,919
Net interest income	58,549		54,803
Provision for loan losses	3,541		3,907
Net interest income after provision for loan losses	55,008		50,896
Noninterest income
Fees from other financial services	4,654		5,610
Fee income on deposit liabilities	5,189		5,428
Fee income on other financial products	1,654		1,866
Bank-owned life insurance	871		983
Mortgage banking income	613		789
Other income, net	436		458
Total noninterest income	13,417		15,134
Noninterest expense
Compensation and employee benefits	24,440		23,042
Occupancy	4,280		4,154
Data processing	3,464		3,280
Services	3,047		2,360
Equipment	1,728		1,748
Office supplies, printing and postage	1,507		1,535
Marketing	645		517
FDIC insurance	713		728
Other expense	4,101		4,506
Total noninterest expense	43,925		41,870
Income before income taxes	24,500		24,160
Income taxes	5,540		8,347
Net income	$	18,960	$	15,813

Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*:

	Three months ended March 31
(in thousands)	2018			2017
Interest and dividend income	$	62,002		$	57,722
Noninterest income	13,417			15,134
*Revenues-Bank	75,419			72,856
Total interest expense	3,453			2,919
Provision for loan losses	3,541			3,907
Noninterest expense	43,925			41,870
Less: Retirement defined benefits expense—other than service costs	(387		)	(195		)
*Expenses-Bank	50,532			48,501
*Operating income-Bank	24,887			24,355
Add back: Retirement defined benefits expense—other than service costs	387			195
Income before income taxes	$	24,500		$	24,160

Schedule of condensed consolidating balance sheet

Balance Sheets Data

(in thousands)	March 31, 2018						December 31, 2017
Assets
Cash and due from banks				$	123,580					$	140,934
Interest-bearing deposits				90,643						93,165
Investment securities
Available-for-sale, at fair value				1,418,490						1,401,198
Held-to-maturity, at amortized cost (fair value of $42,491 and $44,412, respectively)				43,450						44,515
Stock in Federal Home Loan Bank, at cost				10,158						9,706
Loans held for investment				4,742,024						4,670,768
Allowance for loan losses				(53,895		)				(53,637		)
Net loans				4,688,129						4,617,131
Loans held for sale, at lower of cost or fair value				7,379						11,250
Other				425,426						398,570
Goodwill				82,190						82,190
Total assets				$	6,889,445					$	6,798,659
Liabilities and shareholder’s equity
Deposit liabilities—noninterest-bearing				$	1,795,114					$	1,760,233
Deposit liabilities—interest-bearing				4,283,953						4,130,364
Other borrowings				100,430						190,859
Other				106,482						110,356
Total liabilities				6,285,979						6,191,812
Commitments and contingencies
Common stock				1						1
Additional paid in capital				345,652						345,018
Retained earnings				300,837						292,957
Accumulated other comprehensive loss, net of tax benefits
Net unrealized losses on securities	$	(28,248	)				$	(14,951	)
Retirement benefit plans	(14,776		)	(43,024		)	(16,178		)	(31,129		)
Total shareholder’s equity				603,466						606,847
Total liabilities and shareholder’s equity				$	6,889,445					$	6,798,659
Other assets
Bank-owned life insurance				$	149,656					$	148,775
Premises and equipment, net				164,702						136,270
Prepaid expenses				4,549						3,961
Accrued interest receivable				18,461						18,724
Mortgage-servicing rights				8,541						8,639
Low-income housing equity investments				57,222						59,016
Real estate acquired in settlement of loans, net				—						133
Other				22,295						23,052
				$	425,426					$	398,570
Other liabilities
Accrued expenses				$	49,034					$	39,312
Federal and state income taxes payable				1,369						3,736
Cashier’s checks				22,990						27,000
Advance payments by borrowers				6,255						10,245
Other				26,834						30,063
				$	106,482					$	110,356

Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

Schedule of purchases from all IPPs

Purchases from all IPPs were as follows:

	Three months ended March 31
(in millions)	2018		2017
Kalaeloa	$	40	$	40
AES Hawaii	37		29
HPOWER	15		17
Puna Geothermal Venture	11		8
Hamakua Energy	7		7
Other IPPs 1	30		26
Total IPPs	$	140	$	127

¹  Includes wind power, solar power, feed-in tariff projects and other PPAs.

Schedule of net annual incremental amounts proposed to be collected (refunded)

The net annual incremental amounts to be collected (refunded) are as follows:

(in millions)	Hawaiian Electric		Hawaii Electric Light		Maui Electric
2018 Annual incremental RAM adjusted revenues	$	13.8	$	3.4	$	2.3
Annual change in accrued RBA balance as of December 31, 2017 (and associated revenue taxes)	$	6.6	$	0.7	$	3.2
2017 Tax Reform Act Adjustment	$	—	$	—	$	(2.4	)
Net annual incremental amount to be collected under the tariffs	$	20.4	$	4.1	$	3.1

*      Maui Electric incorporated a ($2.4 million) adjustment into its 2018 annual decoupling filing to incorporate the impact of the lower corporate income tax rate and the exclusion of the domestic production activities deduction, as a result of the Tax Act. Tax adjustments for Hawaiian Electric and Hawaii Electric Light are described in the discussion below of their respective on-going rate cases.

Schedule of condensed consolidating statements of income (loss)

Condensed Consolidating Statement of Income

Three months ended March 31, 2017

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Revenues	$	362,843		78,982		76,793		—	(7	)	$	518,611
Expenses
Fuel oil	98,001			17,257		29,012		—	—		144,270
Purchased power	100,147			18,589		8,388		—	—		127,124
Other operation and maintenance	65,993			15,599		17,225		—	—		98,817
Depreciation	32,722			9,685		5,809		—	—		48,216
Taxes, other than income taxes	35,040			7,450		7,333		—	—		49,823
Total expenses	331,903			68,580		67,767		—	—		468,250
Operating income	30,940			10,402		9,026		—	(7	)	50,361
Allowance for equity funds used during construction	2,056			115		228		—	—		2,399
Equity in earnings of subsidiaries	8,603			—		—		—	(8,603	)	—
Retirement defined benefits expense—other than service costs	(1,285		)	83		(221	)	—	—		(1,423		)
Interest expense and other charges, net	(12,057		)	(3,004	)	(2,450	)	—	7		(17,504		)
Allowance for borrowed funds used during construction	749			45		95		—	—		889
Income before income taxes	29,006			7,641		6,678		—	(8,603	)	34,722
Income taxes	7,271			2,923		2,564		—	—		12,758
Net income	21,735			4,718		4,114		—	(8,603	)	21,964
Preferred stock dividends of subsidiaries	—			134		95		—	—		229
Net income attributable to Hawaiian Electric	21,735			4,584		4,019		—	(8,603	)	21,735
Preferred stock dividends of Hawaiian Electric	270			—		—		—	—		270
Net income for common stock	$	21,465		4,584		4,019		—	(8,603	)	$	21,465

Condensed Consolidating Statement of Income

Three months ended March 31, 2018

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Revenues	$	401,180		87,933		81,356		—	(42	)	$	570,427
Expenses
Fuel oil	114,498			18,487		33,983		—	—		166,968
Purchased power	107,370			23,834		8,706		—	—		139,910
Other operation and maintenance	72,940			16,098		18,572		—	—		107,610
Depreciation	34,439			10,055		5,972		—	—		50,466
Taxes, other than income taxes	38,167			8,212		7,725		—	—		54,104
Total expenses	367,414			76,686		74,958		—	—		519,058
Operating income	33,766			11,247		6,398		—	(42	)	51,369
Allowance for equity funds used during construction	2,887			111		296		—	—		3,294
Equity in earnings of subsidiaries	9,325			—		—		—	(9,325	)	—
Retirement defined benefits expense—other than service costs	(1,062		)	(103	)	(99	)	—	—		(1,264		)
Interest expense and other charges, net	(12,495		)	(2,907	)	(2,334	)	—	42		(17,694		)
Allowance for borrowed funds used during construction	1,238			64		142		—	—		1,444
Income before income taxes	33,659			8,412		4,403		—	(9,325	)	37,149
Income taxes	5,914			2,177		1,084		—	—		9,175
Net income	27,745			6,235		3,319		—	(9,325	)	27,974
Preferred stock dividends of subsidiaries	—			134		95		—	—		229
Net income attributable to Hawaiian Electric	27,745			6,101		3,224		—	(9,325	)	27,745
Preferred stock dividends of Hawaiian Electric	270			—		—		—	—		270
Net income for common stock	$	27,475		6,101		3,224		—	(9,325	)	$	27,475

Schedule of condensed consolidating statement of comprehensive income

Condensed Consolidating Statement of Comprehensive Income

Three months ended March 31, 2018

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Net income for common stock	$	27,475		6,101		3,224		—	(9,325	)	$	27,475
Other comprehensive income (loss), net of taxes:
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	4,653			675		562		—	(1,237	)	4,653
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,622		)	(675	)	(562	)	—	1,237		(4,622		)
Other comprehensive income, net of taxes	31			—		—		—	—		31
Comprehensive income attributable to common shareholder	$	27,506		6,101		3,224		—	(9,325	)	$	27,506

Condensed Consolidating Statement of Comprehensive Income

Three months ended March 31, 2017

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Net incomefor common stock	$	21,465		4,584		4,019		—	(8,603	)	$	21,465
Other comprehensive income (loss), net of taxes:
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of taxes	454			—		—		—	—		454
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	3,618			503		466		—	(969	)	3,618
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(3,613		)	(503	)	(467	)	—	970		(3,613		)
Other comprehensive income (loss), net of taxes	459			—		(1	)	—	1		459
Comprehensive income attributable to common shareholder	$	21,924		4,584		4,018		—	(8,602	)	$	21,924

Schedule of condensed consolidating balance sheet

Condensed Consolidating Balance Sheet

December 31, 2017

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consoli- dating adjustments		Hawaiian Electric Consolidated
Assets
Property, plant and equipment
Utility property, plant and equipment
Land	$	43,972		6,189		3,016		—	—		$	53,177
Plant and equipment	4,140,892			1,206,776		1,053,372		—	—		6,401,040
Less accumulated depreciation	(1,451,612		)	(528,024	)	(496,716	)	—	—		(2,476,352		)
Construction in progress	231,571			8,182		23,341		—	—		263,094
Utility property, plant and equipment, net	2,964,823			693,123		583,013		—	—		4,240,959
Nonutility property, plant and equipment, less accumulated depreciation	5,933			115		1,532		—	—		7,580
Total property, plant and equipment, net	2,970,756			693,238		584,545		—	—		4,248,539
Investment in wholly owned subsidiaries,at equity	557,013			—		—		—	(557,013	)	—
Current assets
Cash and cash equivalents	2,059			4,025		6,332		101	—		12,517
Advances to affiliates	—			—		12,000		—	(12,000	)	—
Customer accounts receivable, net	86,987			22,510		18,392		—	—		127,889
Accrued unbilled revenues, net	77,176			15,940		13,938		—	—		107,054
Other accounts receivable, net	11,376			2,268		1,210		—	(7,691	)	7,163
Fuel oil stock, at average cost	64,972			8,698		13,203		—	—		86,873
Materials and supplies, at average cost	28,325			8,041		18,031		—	—		54,397
Prepayments and other	17,928			4,514		2,913		—	—		25,355
Regulatory assets	76,203			5,038		7,149		—	—		88,390
Total current assets	365,026			71,034		93,168		101	(19,691	)	509,638
Other long-term assets
Regulatory assets	557,464			122,783		100,660		—	—		780,907
Other	60,157			16,311		15,061		—	—		91,529
Total other long-term assets	617,621			139,094		115,721		—	—		872,436
Total assets	$	4,510,416		903,366		793,434		101	(576,704	)	$	5,630,613
Capitalization and liabilities
Capitalization
Common stock equity	$	1,845,283		286,647		270,265		101	(557,013	)	$	1,845,283
Cumulative preferred stock—not subject to mandatory redemption	22,293			7,000		5,000		—	—		34,293
Long-term debt, net	924,979			202,701		190,836		—	—		1,318,516
Total capitalization	2,792,555			496,348		466,101		101	(557,013	)	3,198,092
Current liabilities
Current portion of long-term debt	29,978			10,992		8,993		—	—		49,963
Short-term borrowings-non-affiliate	4,999			—		—		—	—		4,999
Short-term borrowings-affiliate	12,000			—		—		—	(12,000	)	—
Accounts payable	121,328			17,855		20,427		—	—		159,610
Interest and preferred dividends payable	15,677			4,174		2,735		—	(11	)	22,575
Taxes accrued	133,839			34,950		30,312		—	—		199,101
Regulatory liabilities	607			1,245		1,549		—	—		3,401
Other	43,121			9,818		14,197		—	(7,680	)	59,456
Total current liabilities	361,549			79,034		78,213		—	(19,691	)	499,105
Deferred credits and other liabilities
Deferred income taxes	281,223			56,955		55,863		—	—		394,041
Regulatory liabilities	613,329			169,139		94,901		—	—		877,369
Unamortized tax credits	59,039			16,167		15,163		—	—		90,369
Defined benefit pension and other postretirement benefit plans liability	340,983			66,447		65,518		—	—		472,948
Other	61,738			19,276		17,675		—	—		98,689
Total deferred credits and other liabilities	1,356,312			327,984		249,120		—	—		1,933,416
Total capitalization and liabilities	$	4,510,416		903,366		793,434		101	(576,704	)	$	5,630,613

Condensed Consolidating Balance Sheet

March 31, 2018

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consoli- dating adjustments		Hawaiian Electric Consolidated
Assets
Property, plant and equipment
Utility property, plant and equipment
Land	$	44,001		5,923		3,016		—	—		$	52,940
Plant and equipment	4,176,161			1,212,692		1,063,362		—	—		6,452,215
Less accumulated depreciation	(1,472,313		)	(534,083	)	(501,546	)	—	—		(2,507,942		)
Construction in progress	256,058			10,150		25,729		—	—		291,937
Utility property, plant and equipment, net	3,003,907			694,682		590,561		—	—		4,289,150
Nonutility property, plant and equipment, less accumulated depreciation	5,935			115		1,532		—	—		7,582
Total property, plant and equipment, net	3,009,842			694,797		592,093		—	—		4,296,732
Investment in wholly owned subsidiaries, at equity	559,511			—		—		—	(559,511	)	—
Current assets
Cash and cash equivalents	11,988			5,080		6,230		101	—		23,399
Advances to affiliates	3,000			—		—		—	(3,000	)	—
Customer accounts receivable, net	97,943			24,117		19,373		—	—		141,433
Accrued unbilled revenues, net	70,618			15,182		13,835		—	—		99,635
Other accounts receivable, net	10,019			1,973		1,314		—	(9,353	)	3,953
Fuel oil stock, at average cost	66,294			9,501		12,928		—	—		88,723
Materials and supplies, at average cost	29,420			8,591		17,681		—	—		55,692
Prepayments and other	22,811			3,661		3,736		—	—		30,208
Regulatory assets	87,449			6,698		8,653		—	—		102,800
Total current assets	399,542			74,803		83,750		101	(12,353	)	545,843
Other long-term assets
Regulatory assets	549,020			120,529		100,150		—	—		769,699
Other	63,792			17,751		16,752		—	—		98,295
Total other long-term assets	612,812			138,280		116,902		—	—		867,994
Total assets	$	4,581,707		907,880		792,745		101	(571,864	)	$	5,710,569
Capitalization and liabilities
Capitalization
Common stock equity	$	1,846,955		288,927		270,483		101	(559,511	)	$	1,846,955
Cumulative preferred stock—not subject to mandatory redemption	22,293			7,000		5,000		—	—		34,293
Long-term debt, net	925,065			202,725		190,864		—	—		1,318,654
Total capitalization	2,794,313			498,652		466,347		101	(559,511	)	3,199,902
Current liabilities
Current portion of long-term debt	29,984			10,994		8,995		—	—		49,973
Short-term borrowings from non-affiliates	121,983			—		—		—	—		121,983
Short-term borrowings from affiliate	—			3,000		—		—	(3,000	)	—
Accounts payable	102,402			17,867		22,130		—	—		142,399
Interest and preferred dividends payable	18,422			4,006		3,791		—	(15	)	26,204
Taxes accrued	107,968			33,213		25,284		—	—		166,465
Regulatory liabilities	2,612			2,387		1,934		—	—		6,933
Other	45,137			9,127		14,949		—	(9,338	)	59,875
Total current liabilities	428,508			80,594		77,083		—	(12,353	)	573,832
Deferred credits and other liabilities
Deferred income taxes	281,581			55,093		56,415		—	—		393,089
Regulatory liabilities	620,758			172,193		95,209		—	—		888,160
Unamortized tax credits	60,318			16,315		15,303		—	—		91,936
Defined benefit pension and other postretirement benefit plans liability	335,674			65,340		64,612		—	—		465,626
Other	60,555			19,693		17,776		—	—		98,024
Total deferred credits and other liabilities	1,358,886			328,634		249,315		—	—		1,936,835
Total capitalization and liabilities	$	4,581,707		907,880		792,745		101	(571,864	)	$	5,710,569

Schedule of condensed consolidating statement of changes in common stock equity

Condensed Consolidating Statement of Changes in Common Stock Equity

Three months ended March 31, 2017

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Balance, December 31, 2016	$	1,799,787		291,291		259,554		101	(550,946	)	$	1,799,787
Net income for common stock	21,465			4,584		4,019		—	(8,603	)	21,465
Other comprehensive income (loss), net of taxes	459			—		(1	)	—	1		459
Common stock dividends	(21,942		)	(3,874	)	(2,986	)	—	6,860		(21,942		)
Balance, March 31, 2017	$	1,799,769		292,001		260,586		101	(552,688	)	$	1,799,769

Condensed Consolidating Statement of Changes in Common Stock Equity

Three months ended March 31, 2018

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Balance, December 31, 2017	$	1,845,283		286,647		270,265		101	(557,013	)	$	1,845,283
Net income for common stock	27,475			6,101		3,224		—	(9,325	)	27,475
Other comprehensive income, net of taxes	31			—		—		—	—		31
Common stock dividends	(25,826		)	(3,821	)	(3,006	)	—	6,827		(25,826		)
Common stock issuance expenses	(8		)	—		—		—	—		(8		)
Balance, March 31, 2018	$	1,846,955		288,927		270,483		101	(559,511	)	$	1,846,955

Schedule of condensed consolidating statement of cash flows

Condensed Consolidating Statement of Cash Flows

Three months ended March 31, 2017

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Cash flows from operating activities
Net income	$	21,735		4,718		4,114		—	(8,603	)	$	21,964
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries	(8,628		)	—		—		—	8,603		(25		)
Common stock dividends received from subsidiaries	6,910			—		—		—	(6,860	)	50
Depreciation of property, plant and equipment	32,722			9,685		5,809		—	—		48,216
Other amortization	914			442		593		—	—		1,949
Deferred income taxes	6,810			1,700		2,602		—	(48	)	11,064
Allowance for equity funds used during construction	(2,056		)	(115	)	(228	)	—	—		(2,399		)
Other	661			(138	)	(87	)	—	—		436
Changes in assets and liabilities:
Decrease (increase) in accounts receivable	(10,724		)	1,239		685		—	1,472		(7,328		)
Increase in accrued unbilled revenues	(4,577		)	(319	)	(1,043	)	—	—		(5,939		)
Decrease (increase) in fuel oil stock	(9,234		)	1,485		305		—	—		(7,444		)
Decrease (increase) in materials and supplies	(2,267		)	(1,114	)	15		—	—		(3,366		)
Decrease (increase) in regulatory assets	7,711			(677	)	(1,125	)	—	—		5,909
Increase (decrease) in accounts payable	21,943			(1,721	)	(2,991	)	—	—		17,231
Change in prepaid and accrued income taxes, tax credits and revenue taxes	(32,272		)	(5,352	)	(6,408	)	—	48		(43,984		)
Increase in defined benefit pension and other postretirement benefit plans liability	240			14		10		—	—		264
Change in other assets and liabilities	(4,249		)	805		197		—	(1,472	)	(4,719		)
Net cash provided by operating activities	25,639			10,652		2,448		—	(6,860	)	31,879
Cash flows from investing activities
Capital expenditures	(64,035		)	(12,434	)	(8,243	)	—	—		(84,712		)
Contributions in aid of construction	8,934			915		801		—	—		10,650
Other	2,352			78		272		—	—		2,702
Advances from affiliates	—			(3,000	)	7,500		—	(4,500	)	—
Net cash provided by (used in) investing activities	(52,749		)	(14,441	)	330		—	(4,500	)	(71,360		)
Cash flows from financing activities
Common stock dividends	(21,942		)	(3,874	)	(2,986	)	—	6,860		(21,942		)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(270		)	(134	)	(95	)	—	—		(499		)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	(3,000		)	—		—		—	4,500		1,500
Other	(449		)	—		(208	)	—	—		(657		)
Net cash used in financing activities	(25,661		)	(4,008	)	(3,289	)	—	11,360		(21,598		)
Net decrease in cash and cash equivalents	(52,771		)	(7,797	)	(511	)	—	—		(61,079		)
Cash and cash equivalents, beginning of period	61,388			10,749		2,048		101	—		74,286
Cash and cash equivalents, end of period	$	8,617		2,952		1,537		101	—		$	13,207

Condensed Consolidating Statement of Cash Flows

Three months ended March 31, 2018

(in thousands)	Hawaiian Electric			Hawaii Electric Light		Maui Electric		Other subsidiaries	Consolidating adjustments		Hawaiian Electric Consolidated
Cash flows from operating activities
Net income	$	27,745		6,235		3,319		—	(9,325	)	$	27,974
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries	(9,350		)	—		—		—	9,325		(25		)
Common stock dividends received from subsidiaries	6,827			—		—		—	(6,827	)	—
Depreciation of property, plant and equipment	34,439			10,055		5,972		—	—		50,466
Other amortization	3,237			1,554		553		—	—		5,344
Deferred income taxes	(271		)	(1,806	)	497		—	—		(1,580		)
Allowance for equity funds used during construction	(2,887		)	(111	)	(296	)	—	—		(3,294		)
Other	2,868			(103	)	(84	)	—	—		2,681
Changes in assets and liabilities:
Increase in accounts receivable	(13,255		)	(2,048	)	(1,396	)	—	1,662		(15,037		)
Decrease in accrued unbilled revenues	6,558			758		103		—	—		7,419
Decrease (increase) in fuel oil stock	(1,322		)	(803	)	275		—	—		(1,850		)
Decrease (increase) in materials and supplies	(1,095		)	(550	)	350		—	—		(1,295		)
Increase in regulatory assets	(13,256		)	(1,773	)	(1,871	)	—	—		(16,900		)
Increase (decrease) in accounts payable	(2,028		)	4,050		3,121		—	—		5,143
Change in prepaid and accrued income taxes, tax credits and revenue taxes	(25,892		)	(1,882	)	(5,532	)	—	440		(32,866		)
Decrease in defined benefit pension and other postretirement benefit plans liability	(592		)	(198	)	(148	)	—	—		(938		)
Change in other assets and liabilities	2,976			2,875		349		—	(1,662	)	4,538
Net cash provided by operating activities	14,702			16,253		5,212		—	(6,387	)	29,780
Cash flows from investing activities
Capital expenditures	(84,226		)	(15,161	)	(15,070	)	—	—		(114,457		)
Contributions in aid of construction	3,327			656		347		—	—		4,330
Other	269			264		510		—	(440	)	603
Advances (to) from affiliates	(3,000		)	—		12,000		—	(9,000	)	—
Net cash used in investing activities	(83,630		)	(14,241	)	(2,213	)	—	(9,440	)	(109,524		)
Cash flows from financing activities
Common stock dividends	(25,826		)	(3,821	)	(3,006	)	—	6,827		(25,826		)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(270		)	(134	)	(95	)	—	—		(499		)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	104,984			3,000		—		—	9,000		116,984
Other	(31		)	(2	)	—		—	—		(33		)
Net cash provided by (used in) financing activities	78,857			(957	)	(3,101	)	—	15,827		90,626
Net increase (decrease) in cash and cash equivalents	9,929			1,055		(102	)	—	—		10,882
Cash and cash equivalents, beginning of period	2,059			4,025		6,332		101	—		12,517
Cash and cash equivalents, end of period	$	11,988		5,080		6,230		101	—		$	23,399