v3.24.3
Condensed Consolidated Statements of Cash Flows (unaudited) - HECO - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Depreciation of property, plant and equipment $ 204,887 $ 200,722
Other amortization 37,123 32,744
Deferred income tax benefit (513,917) (5,594)
Allowance for equity funds used during construction (10,276) (11,073)
Other (7,660) (5,315)
Changes in assets and liabilities    
Decrease in fuel oil stock 38,152 38,587
Decrease (increase) in regulatory assets (13,263) 13,908
Increase in regulatory liabilities 33,461 32,454
Change in prepaid and accrued income taxes, tax credits and revenue taxes (35,021) (24,860)
Decrease in defined benefit pension and other postretirement benefit plans liability (6,694) (6,722)
Increase in wildfire tort-related claims 1,840,000 75,000
Change in other assets and liabilities (76,893) (125,348)
Net cash provided by (used in) operating activities 350,911 475,138
Cash flows from investing activities    
Capital expenditures (258,645) (342,364)
Other (1,142) 9,375
Net cash used in investing activities (24,060) (369,638)
Cash flows from financing activities    
Common stock dividends 0 (112,957)
Proceeds from issuance of long-term debt 5,204 625,000
Net decrease in short-term borrowings from non-affiliates and affiliates with original maturities of three months or less 0 (137,650)
Other (18,149) (9,409)
Net cash provided by (used in) financing activities 151,855 371,866
Net increase in cash, cash equivalents and restricted cash 478,706 477,366
Cash, cash equivalents and restricted cash, beginning of period 694,574 204,927
Cash, cash equivalents and restricted cash, end of period 1,173,280 682,293
Less: Restricted cash (13,645) (15,164)
Cash and cash equivalents 1,159,635 667,129
Hawaiian Electric Company, Inc. and Subsidiaries    
Cash flows from operating activities    
Net income (loss) (1,271,262) 137,265
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Depreciation of property, plant and equipment 188,436 182,781
Other amortization 22,818 19,639
Deferred income tax benefit (488,956) (8,807)
State refundable credit (8,822) (8,625)
Bad debt expense 4,006 3,937
Allowance for equity funds used during construction (10,276) (11,073)
Other (2,954) 549
Changes in assets and liabilities    
Decrease (increase) in accounts receivable 61,392 (34,813)
Decrease (increase) in accrued unbilled revenues (12,652) 3,759
Decrease in fuel oil stock 39,193 38,762
Decrease (increase) in materials and supplies 379 (19,958)
Decrease (increase) in regulatory assets (13,263) 13,908
Increase in regulatory liabilities 33,461 32,454
Increase in accounts payable 49,768 26,967
Change in prepaid and accrued income taxes, tax credits and revenue taxes (40,755) (18,754)
Decrease in defined benefit pension and other postretirement benefit plans liability (5,678) (6,202)
Increase in wildfire tort-related claims 1,840,000 75,000
Change in other assets and liabilities (62,187) (20,678)
Net cash provided by (used in) operating activities 322,648 406,111
Cash flows from investing activities    
Capital expenditures (244,300) (334,497)
Other 2,697 5,216
Net cash used in investing activities (241,603) (329,281)
Cash flows from financing activities    
Common stock dividends (26,000) (96,750)
Preferred stock dividends of Hawaiian Electric and subsidiaries (1,496) (1,496)
Proceeds from issuance of long-term debt 0 350,000
Net decrease in short-term borrowings from non-affiliates and affiliates with original maturities of three months or less 0 (87,967)
Payments of obligations under finance leases (5,876) (2,162)
Other (6,126) (843)
Net cash provided by (used in) financing activities (39,498) 160,782
Net increase in cash, cash equivalents and restricted cash 41,547 237,612
Cash, cash equivalents and restricted cash, beginning of period 108,077 39,242
Cash, cash equivalents and restricted cash, end of period 149,624 276,854
Less: Restricted cash (2,000) (2,000)
Cash and cash equivalents $ 147,624 $ 274,854