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Condensed Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues    
Total revenues $ 661,615 $ 645,874
Expenses    
Purchased power 134,000 140,000
Total expenses 583,678 573,985
Operating income (loss)    
Total operating income 77,937 71,889
Retirement defined benefits expense—other than service costs (763) (1,833)
Interest expense, net—other than on deposit liabilities and other bank borrowings (23,123) (21,518)
Allowance for borrowed funds used during construction 1,078 1,444
Allowance for equity funds used during construction 2,910 3,294
Income before income taxes 58,039 53,276
Income taxes 11,878 12,556
Net income 46,161 40,720
Preferred stock dividends of subsidiaries 473 473
Net income for common stock $ 45,688 $ 40,247
Basic earnings per common share (in dollars per share) $ 0.42 $ 0.37
Diluted earnings per common share (in dollars per share) $ 0.42 $ 0.37
Weighted-average number of common shares outstanding (in shares) 108,913 108,818
Net effect of potentially dilutive shares (in shares) 355 206
Weighted-average shares assuming dilution (in shares) 109,268 109,024
Hawaiian Electric Company, Inc. and Subsidiaries    
Revenues    
Total revenues $ 578,495 $ 570,427
Expenses    
Fuel oil 160,609 166,968
Purchased power 134,445 139,910
Other operation and maintenance 118,130 107,610
Depreciation 53,947 50,466
Taxes, other than income taxes 54,804 54,104
Total expenses 521,935 519,058
Operating income (loss)    
Total operating income 56,560 51,369
Retirement defined benefits expense—other than service costs (703) (1,264)
Allowance for borrowed funds used during construction 1,078 1,444
Allowance for equity funds used during construction 2,910 3,294
Interest expense and other charges, net (17,986) (17,694)
Income before income taxes 41,859 37,149
Income taxes 9,234 9,175
Net income 32,625 27,974
Preferred stock dividends of subsidiaries 229 229
Net income attributable to Hawaiian Electric 32,396 27,745
Preferred stock dividends of Hawaiian Electric 270 270
Net income for common stock 32,126 27,475
Electric utility    
Revenues    
Total revenues 578,495 570,427
Expenses    
Total expenses 521,935 519,058
Operating income (loss)    
Total operating income 56,560 51,369
Income before income taxes 41,859 37,149
Income taxes 9,234 9,175
Net income 32,625 27,974
Preferred stock dividends of subsidiaries 499 499
Net income for common stock 32,126 27,475
Bank    
Revenues    
Total revenues 83,052 75,419
Expenses    
Total expenses 56,930 50,532
Operating income (loss)    
Total operating income 26,122 24,887
Income before income taxes 26,162 24,500
Income taxes 5,323 5,540
Net income 20,839 18,960
Preferred stock dividends of subsidiaries 0 0
Net income for common stock 20,839 18,960
Other    
Revenues    
Total revenues 68 28
Expenses    
Total expenses 4,813 4,395
Operating income (loss)    
Total operating income (4,745) (4,367)
Income before income taxes (9,982) (8,373)
Income taxes (2,679) (2,159)
Net income (7,303) (6,214)
Preferred stock dividends of subsidiaries (26) (26)
Net income for common stock $ (7,277) $ (6,188)