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Condensed Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues    
Revenues $ 928,237 $ 785,068
Expenses    
Total expenses 834,719 685,792
Operating income (loss)    
Total operating income 93,518 99,276
Retirement defined benefits credit—other than service costs 1,152 1,243
Interest expense, net—other than on deposit liabilities and other bank borrowings (28,798) (24,349)
Allowance for borrowed funds used during construction 1,131 778
Allowance for equity funds used during construction 3,301 2,409
Gain on sales of equity-method investment 0 8,123
Income before income taxes 70,304 87,480
Income taxes 15,110 17,840
Net income attributable to Hawaiian Electric 55,194 69,640
Preferred stock dividends of subsidiaries 473 473
Net income for common stock $ 54,721 $ 69,167
Basic earnings per common share (in dollars per share) $ 0.50 $ 0.63
Diluted earnings per common share (in dollars per share) $ 0.50 $ 0.63
Weighted-average number of common shares outstanding (in shares) 109,514 109,361
Net effect of potentially dilutive shares (in shares) 311 273
Weighted-average shares assuming dilution (in shares) 109,825 109,634
Electric utility    
Revenues    
Revenues $ 830,361 $ 708,792
Expenses    
Total expenses 754,486 635,197
Operating income (loss)    
Total operating income 75,875 73,595
Income before income taxes 61,108 59,446
Income taxes 13,600 12,538
Net income attributable to Hawaiian Electric 47,508 46,908
Preferred stock dividends of subsidiaries 499 499
Net income for common stock 47,009 46,409
Bank    
Revenues    
Revenues 93,857 75,115
Expenses    
Total expenses 70,337 45,085
Operating income (loss)    
Total operating income 23,520 30,030
Income before income taxes 23,707 30,215
Income taxes 5,145 6,345
Net income attributable to Hawaiian Electric 18,562 23,870
Preferred stock dividends of subsidiaries 0 0
Net income for common stock 18,562 23,870
Other    
Revenues    
Revenues 4,019 1,161
Expenses    
Total expenses 9,896 5,510
Operating income (loss)    
Total operating income (5,877) (4,349)
Income before income taxes (14,511) (2,181)
Income taxes (3,635) (1,043)
Net income attributable to Hawaiian Electric (10,876) (1,138)
Preferred stock dividends of subsidiaries (26) (26)
Net income for common stock $ (10,850) $ (1,112)