Segment financial information

3 Months Ended

Mar. 31, 2020


(in thousands)	Electric utility		Bank		Other		Total









Three months ended March 31, 2020
Revenues from external customers	$	597,430	$	79,738	$	18	$	677,186
Intersegment revenues (eliminations)	12		—		(12)		—
Revenues	$	597,442	$	79,738	$	6	$	677,186
Income (loss) before income taxes	$	29,686	$	18,969	$	(8,959)	$	39,696
Income taxes (benefit)	5,282		3,208		(2,687)		5,803
Net income (loss)	24,404		15,761		(6,272)		33,893
Preferred stock dividends of subsidiaries	499		—		(26)		473
Net income (loss) for common stock	$	23,905	$	15,761	$	(6,246)	$	33,420
Total assets (at March 31, 2020)	$	6,335,928	$	7,385,745	$	127,345	$	13,849,018









Three months ended March 31, 2019
Revenues from external customers	$	578,482	$	83,052	$	81	$	661,615
Intersegment revenues (eliminations)	13		—		(13)		—
Revenues	$	578,495	$	83,052	$	68	$	661,615
Income (loss) before income taxes	$	41,859	$	26,162	$	(9,982)	$	58,039
Income taxes (benefit)	9,234		5,323		(2,679)		11,878
Net income (loss)	32,625		20,839		(7,303)		46,161
Preferred stock dividends of subsidiaries	499		—		(26)		473
Net income (loss) for common stock	$	32,126	$	20,839	$	(7,277)	$	45,688
Total assets (at December 31, 2019)	$	6,388,682	$	7,233,017	$	123,552	$	13,745,251

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.

Hamakua Energy, LLC’s (Hamakua Energy’s) sales to Hawaii Electric Light (a regulated affiliate) are eliminated in consolidation.