Retirement benefits (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of components of net periodic benefit cost for consolidated HEI

The components of net periodic pension costs (NPPC) and net periodic benefit costs (NPBC) for HEI consolidated and Hawaiian Electric consolidated were as follows:


		Pension benefits			Other benefits
Three months ended March 31	2021		2020	2021			2020
(in thousands)
HEI consolidated
Service cost					$	20,464		$	18,363	$	705	$	631
Interest cost					18,801			20,163		1,569		1,855
Expected return on plan assets					(33,067)			(28,466)		(3,233)		(3,038)
Amortization of net prior period (gain)/cost					—			3		(383)		(440)
Amortization of net actuarial losses1					1,556			8,057		254		50
Net periodic pension/benefit cost (return)					7,754			18,120		(1,088)		(942)
Impact of PUC D&Os					11,167			6,262		970		777
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)					$	18,921		$	24,382	$	(118)	$	(165)
Hawaiian Electric consolidated
Service cost					$	19,994		$	17,891	$	699	$	626
Interest cost					17,531			18,715		1,504		1,782
Expected return on plan assets					(31,368)			(26,855)		(3,182)		(2,990)
Amortization of net prior period (gain)/cost					—			2		(383)		(440)
Amortization of net actuarial losses1					2,559			7,368		250		51
Net periodic pension/benefit cost (return)					8,716			17,121		(1,112)		(971)
Impact of PUC D&Os					11,167			6,262		970		777
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)					$	19,883		$	23,383	$	(142)	$	(194)

1 Three months ended March 31, 2021 amounts include the one-time cumulative impact of the change in accounting principle for the plans’ fixed income securities from the calculated market-related value method to the fair value method, which was recorded in the first quarter of 2021.