XML 21 R5.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Assets    
Cash and cash equivalents $ 277,579 $ 341,421
Restricted cash 14,067 17,558
Accounts receivable and unbilled revenues, net 273,197 281,216
Available-for-sale investment securities, at fair value 2,305,257 1,970,417
Held-to-maturity investment securities, at amortized cost 295,046 226,947
Stock in Federal Home Loan Bank, at cost 10,000 8,680
Loans held for investment, net 5,218,288 5,232,642
Loans held for sale, at lower of cost or fair value 23,637 28,275
Property, plant and equipment, net of accumulated depreciation 5,283,768 5,265,735
Regulatory assets 773,426 766,708
Other 639,505 629,149
Goodwill 82,190 82,190
Utility property, plant and equipment    
Total property, plant and equipment, net 5,283,768 5,265,735
Current assets    
Cash and cash equivalents 277,579 341,421
Other long-term assets    
Operating lease right-of-use assets 162,713 153,069
Total assets 15,358,673 15,004,007
Liabilities    
Accounts payable 164,936 182,347
Interest and dividends payable 32,405 23,547
Deposit liabilities 7,745,294 7,386,957
Short-term borrowings—other than bank 100,242 129,379
Other bank borrowings 102,685 89,670
Long-term debt, net—other than bank 2,229,738 2,119,129
Deferred income taxes 380,365 395,089
Operating lease liabilities 175,334 160,432
Regulatory liabilities 956,139 959,786
Defined benefit pension and other postretirement benefit plans liability 558,191 567,438
Other 557,758 618,438
Total liabilities 13,003,087 12,632,212
Capitalization    
Retained earnings 687,600 660,398
Accumulated other comprehensive loss, net of tax benefits (45,280) (1,264)
Total shareholders’ equity 2,321,293 2,337,502
Preferred stock of subsidiaries - not subject to mandatory redemption 34,293 34,293
Commitments and contingencies
Current liabilities    
Interest and dividends payable 32,405 23,547
Deferred credits and other liabilities    
Deferred income taxes 380,365 395,089
Shareholders’ equity    
Preferred stock, no par value, authorized 10,000,000 shares; issued: none 0 0
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 109,281,493 shares and 109,181,124 shares at March 31, 2021 and December 31, 2020, respectively 1,678,973 1,678,368
Retained earnings 687,600 660,398
Accumulated other comprehensive loss, net of tax benefits (45,280) (1,264)
Total shareholders’ equity 2,321,293 2,337,502
Total liabilities and shareholders’ equity 15,358,673 15,004,007
Hawaiian Electric Company, Inc. and Subsidiaries    
Assets    
Cash and cash equivalents 51,743 47,360
Restricted cash 11,506 15,966
Property, plant and equipment, net of accumulated depreciation 4,954,711 4,937,170
Regulatory assets 22,200  
Utility property, plant and equipment    
Land 51,611 51,611
Plant and equipment 7,551,879 7,509,343
Less accumulated depreciation (2,859,719) (2,819,079)
Construction in progress 203,988 188,342
Utility property, plant and equipment, net 4,947,759 4,930,217
Nonutility property, plant and equipment, less accumulated depreciation 6,952 6,953
Total property, plant and equipment, net 4,954,711 4,937,170
Current assets    
Cash and cash equivalents 51,743 47,360
Customer accounts receivable, net 141,649 147,832
Accrued unbilled revenues, net 101,813 101,036
Other accounts receivable, net 5,073 7,673
Fuel oil stock, at average cost 74,688 58,238
Materials and supplies, at average cost 69,726 67,344
Prepayments and other 36,419 44,083
Regulatory assets 54,322 30,435
Total current assets 546,939 519,967
Other long-term assets    
Operating lease right-of-use assets 138,534 127,654
Regulatory assets 719,104 736,273
Other 135,620 136,309
Total other long-term assets 993,258 1,000,236
Total assets 6,494,908 6,457,373
Liabilities    
Interest and dividends payable 28,172 20,350
Deferred income taxes 396,758 397,798
Capitalization    
Common stock ($6 2/3 par value, authorized 50,000,000 shares; outstanding 17,324,376 shares at March 31, 2021 and December 31, 2020) 115,515 115,515
Premium on capital stock 746,987 746,987
Retained earnings 1,297,768 1,282,335
Accumulated other comprehensive loss, net of tax benefits (2,885) (2,919)
Total shareholders’ equity 2,157,385 2,141,918
Long-term debt, net 1,675,863 1,561,302
Total capitalization 3,867,541 3,737,513
Preferred stock of subsidiaries - not subject to mandatory redemption 34,293 34,293
Commitments and contingencies
Current liabilities    
Current portion of operating lease liabilities 66,301 64,730
Short-term borrowings from non-affiliates 0 49,979
Accounts payable 123,199 133,849
Interest and dividends payable 28,172 20,350
Taxes accrued, including revenue taxes 155,125 192,524
Regulatory liabilities 30,370 37,301
Other 70,000 74,262
Total current liabilities 473,167 572,995
Deferred credits and other liabilities    
Operating lease liabilities 84,102 69,494
Deferred income taxes 396,758 397,798
Regulatory liabilities 925,769 922,485
Unamortized tax credits 110,181 111,915
Defined benefit pension and other postretirement benefit plans liability 522,286 530,532
Other 115,104 114,641
Total deferred credits and other liabilities 2,154,200 2,146,865
Shareholders’ equity    
Preferred stock, no par value, authorized 10,000,000 shares; issued: none 34,293 34,293
Retained earnings 1,297,768 1,282,335
Accumulated other comprehensive loss, net of tax benefits (2,885) (2,919)
Total shareholders’ equity 2,157,385 2,141,918
Total liabilities and shareholders’ equity $ 6,494,908 $ 6,457,373