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Condensed Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Total revenues $ 677,186 $ 661,615
Expenses    
Total expenses 617,484 583,678
Operating income (loss)    
Total operating income 59,702 77,937
Retirement defined benefits expense—other than service costs (934) (763)
Interest expense, net—other than on deposit liabilities and other bank borrowings (21,775) (23,123)
Allowance for borrowed funds used during construction 688 1,078
Allowance for equity funds used during construction 2,015 2,910
Income before income taxes 39,696 58,039
Income taxes 5,803 11,878
Net income 33,893 46,161
Preferred stock dividends of subsidiaries 473 473
Net income for common stock $ 33,420 $ 45,688
Basic earnings per common share (in dollars per share) $ 0.31 $ 0.42
Diluted earnings per common share (in dollars per share) $ 0.31 $ 0.42
Weighted-average number of common shares outstanding (in shares) 109,051 108,913
Net effect of potentially dilutive shares (in shares) 314 355
Weighted-average shares assuming dilution (in shares) 109,365 109,268
Hawaiian Electric Company, Inc. and Subsidiaries    
Revenues    
Total revenues $ 597,442 $ 578,495
Expenses    
Fuel oil 173,221 160,609
Purchased power 139,816 134,445
Other operation and maintenance 127,547 118,130
Depreciation 55,850 53,947
Taxes, other than income taxes 57,050 54,804
Total expenses 553,484 521,935
Operating income (loss)    
Total operating income 43,958 56,560
Retirement defined benefits expense—other than service costs (381) (703)
Allowance for borrowed funds used during construction 688 1,078
Allowance for equity funds used during construction 2,015 2,910
Interest expense and other charges, net (16,594) (17,986)
Income before income taxes 29,686 41,859
Income taxes 5,282 9,234
Net income 24,404 32,625
Preferred stock dividends of subsidiaries 229 229
Net income attributable to Hawaiian Electric 24,175 32,396
Preferred stock dividends of Hawaiian Electric 270 270
Net income for common stock 23,905 32,126
Electric utility    
Revenues    
Total revenues 597,442 578,495
Expenses    
Total expenses 553,484 521,935
Operating income (loss)    
Total operating income 43,958 56,560
Income before income taxes 29,686 41,859
Income taxes 5,282 9,234
Net income 24,404 32,625
Preferred stock dividends of subsidiaries 499 499
Net income for common stock 23,905 32,126
Bank    
Revenues    
Total revenues 79,738 83,052
Expenses    
Total expenses 60,335 56,930
Operating income (loss)    
Total operating income 19,403 26,122
Income before income taxes 18,969 26,162
Income taxes 3,208 5,323
Net income 15,761 20,839
Preferred stock dividends of subsidiaries 0 0
Net income for common stock 15,761 20,839
Other    
Revenues    
Total revenues 6 68
Expenses    
Total expenses 3,665 4,813
Operating income (loss)    
Total operating income (3,659) (4,745)
Income before income taxes (8,959) (9,982)
Income taxes (2,687) (2,679)
Net income (6,272) (7,303)
Preferred stock dividends of subsidiaries (26) (26)
Net income for common stock $ (6,246) $ (7,277)