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Segment financial information
3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segment financial information Segment financial information
(in thousands) Electric utilityBankOtherTotal
Three months ended March 31, 2024    
Revenues$788,578 $105,144 $3,436 $897,158 
Income (loss) before income taxes$50,900 $25,813 $(22,444)$54,269 
Income taxes (benefit)11,180 4,879 (4,385)11,674 
Net income (loss)39,720 20,934 (18,059)42,595 
Preferred stock dividends of subsidiaries499 — (26)473 
Net income (loss) for common stock$39,221 $20,934 $(18,033)$42,122 
Total assets (at March 31, 2024)
$7,274,862 $9,360,229 $288,117 $16,923,208 
Three months ended March 31, 2023    
Revenues$830,361 $93,857 $4,019 $928,237 
Income (loss) before income taxes$61,108 $23,707 $(14,511)$70,304 
Income taxes (benefit)13,600 5,145 (3,635)15,110 
Net income (loss)47,508 18,562 (10,876)55,194 
Preferred stock dividends of subsidiaries499 — (26)473 
Net income (loss) for common stock $47,009 $18,562 $(10,850)$54,721 
Total assets (at December 31, 2023)
$7,283,554 $9,673,192 $287,075 $17,243,821 
 
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.
Sales from Hamakua Energy, LLC (Hamakua Energy) to Hawaii Electric Light (a regulated affiliate) are eliminated in consolidation.