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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income $ 89,146 $ 87,247
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 114,863 106,063
Other amortization 22,439 20,603
Provision for loan losses 14,558 6,304
Loans originated and purchased, held for sale (96,033) (78,313)
Proceeds from sale of loans, held for sale 89,573 77,382
Deferred income taxes (6,662) (9,672)
Share-based compensation expense 5,883 4,414
Allowance for equity funds used during construction (6,085) (6,277)
Other (7,320) (147)
Changes in assets and liabilities    
Decrease (increase) in accounts receivable and unbilled revenues, net 12,850 (41,526)
Increase in fuel oil stock (40,557) (19,867)
Decrease (increase) in regulatory assets 25,392 (19,600)
Increase in accounts, interest and dividends payable 3,926 31,784
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes (45,977) (26,558)
Decrease in defined benefit pension and other postretirement benefit plans liability (1,774) (871)
Change in other assets and liabilities (40,816) (22,695)
Net cash provided by operating activities 133,406 108,271
Cash flows from investing activities    
Available-for-sale investment securities purchased (4,530) (133,698)
Principal repayments on available-for-sale investment securities 123,855 108,379
Purchases of held-to-maturity investment securities 0 (20,450)
Principal repayments of held-to-maturity investment securities 4,774 2,270
Purchase of stock from Federal Home Loan Bank (53,115) (7,533)
Redemption of stock from Federal Home Loan Bank 54,640 7,080
Net increase in loans held for investment (173,546) (111,521)
Capital expenditures (229,282) (246,325)
Contributions to low income housing investments (4,069) (3,279)
Other 6,143 13,657
Net cash used in investing activities (275,130) (391,420)
Cash flows from financing activities    
Net increase in deposit liabilities 98,531 123,137
Net increase in short-term borrowings with original maturities of three months or less 112,901 84,881
Net increase in other bank borrowings with original maturities of three months or less 1,445 38,446
Proceeds from issuance of short-term debt 25,000 0
Proceeds from issuance of long-term debt 56,150 100,000
Repayment of long-term debt (52,489) (878)
Withheld shares for employee taxes on vested share-based compensation (996) (996)
Common stock dividends (69,720) (67,481)
Preferred stock dividends of subsidiaries (946) (946)
Other 1,189 (230)
Net cash provided by financing activities 171,065 275,933
Net increase (decrease) in cash and cash equivalents 29,341 (7,216)
Cash and cash equivalents, beginning of period 169,208 261,881
Cash and cash equivalents, end of period 198,549 254,665
Hawaiian Electric Company, Inc. and Subsidiaries    
Cash flows from operating activities    
Net income 65,698 59,642
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 107,860 100,827
Other amortization 13,661 13,021
Deferred income taxes (6,611) (8,343)
Allowance for equity funds used during construction (6,085) (6,277)
Other (3,553) 978
Changes in assets and liabilities    
Decrease (increase) in accounts receivable 9,994 (34,068)
Decrease (increase) in accrued unbilled revenues 2,590 (3,785)
Increase in fuel oil stock (41,706) (20,143)
Increase in materials and supplies (5,890) (3,544)
Decrease (increase) in regulatory assets 25,392 (19,600)
Increase (decrease) in accounts payable (45) 18,284
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes (45,785) (31,061)
Decrease in defined benefit pension and other postretirement benefit plans liability (1,899) (1,961)
Change in other assets and liabilities (12,805) 5,866
Net cash provided by operating activities 100,816 69,836
Cash flows from investing activities    
Capital expenditures (199,896) (199,647)
Other 2,510 4,301
Net cash used in investing activities (197,386) (195,346)
Cash flows from financing activities    
Net increase in short-term borrowings with original maturities of three months or less 25,000 86,881
Net increase in other bank borrowings with original maturities of three months or less 111,901 86,881
Proceeds from issuance of short-term debt 25,000 0
Proceeds from issuance of long-term debt 50,000 100,000
Repayment of long-term debt (51,546) 0
Common stock dividends (50,626) (51,652)
Preferred stock dividends of Hawaiian Electric and subsidiaries (998) (998)
Other 323 (378)
Net cash provided by financing activities 84,054 133,853
Net increase (decrease) in cash and cash equivalents (12,516) 8,343
Cash and cash equivalents, beginning of period 35,877 12,517
Cash and cash equivalents, end of period $ 23,361 $ 20,860