XML 25 R11.htm IDEA: XBRL DOCUMENT v3.21.2
Segment financial information
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Segment financial information Segment financial information
(in thousands) Electric utilityBankOtherTotal
Three months ended September 30, 2021    
Revenues from external customers$679,482 $76,208 $1,214 $756,904 
Intersegment revenues (eliminations)17 — (17)— 
Revenues$679,499 $76,208 $1,197 $756,904 
Income (loss) before income taxes$61,175 $25,241 $(8,265)$78,151 
Income taxes (benefit)10,335 5,976 (2,046)14,265 
Net income (loss)50,840 19,265 (6,219)63,886 
Preferred stock dividends of subsidiaries498 — (27)471 
Net income (loss) for common stock$50,342 $19,265 $(6,192)$63,415 
Nine months ended September 30, 2021    
Revenues from external customers$1,846,206 $230,599 $3,302 $2,080,107 
Intersegment revenues (eliminations)36 — (36)— 
Revenues$1,846,242 $230,599 $3,266 $2,080,107 
Income (loss) before income taxes$170,163 $102,335 $(31,207)$241,291 
Income taxes (benefit)33,066 23,230 (8,067)48,229 
Net income (loss)137,097 79,105 (23,140)193,062 
Preferred stock dividends of subsidiaries1,496 — (79)1,417 
Net income (loss) for common stock$135,601 $79,105 $(23,061)$191,645 
Total assets (at September 30, 2021)
$6,602,908 $9,010,419 $146,836 $15,760,163 
Three months ended September 30, 2020    
Revenues from external customers$562,559 $78,644 $224 $641,427 
Intersegment revenues (eliminations)9 — (9)— 
Revenues$562,568 $78,644 $215 $641,427 
Income (loss) before income taxes$74,398 $15,027 $(9,904)$79,521 
Income taxes (benefit)13,835 2,877 (2,694)14,018 
Net income (loss)60,563 12,150 (7,210)65,503 
Preferred stock dividends of subsidiaries498 — (27)471 
Net income (loss) for common stock $60,065 $12,150 $(7,183)$65,032 
Nine months ended September 30, 2020    
Revenues from external customers$1,694,195 $233,096 $267 $1,927,558 
Intersegment revenues (eliminations)30 — (30)— 
Revenues$1,694,225 $233,096 $237 $1,927,558 
Income (loss) before income taxes$157,111 $51,330 $(28,994)$179,447 
Income taxes (benefit)29,316 9,405 (8,030)30,691 
Net income (loss)127,795 41,925 (20,964)148,756 
Preferred stock dividends of subsidiaries1,496 — (79)1,417 
Net income (loss) for common stock $126,299 $41,925 $(20,885)$147,339 
Total assets (at December 31, 2020)$6,457,373 $8,396,533 $150,101 $15,004,007 
 
Intercompany electricity sales of the Utilities to ASB 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.
Hamakua Energy, LLC’s (Hamakua Energy’s) sales to Hawaii Electric Light (a regulated affiliate) are eliminated in consolidation.