v3.24.3
Revenues
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
The following tables disaggregate revenues by major source, timing of revenue recognition, and segment:
Three months ended September 30, 2024Nine months ended September 30, 2024
(in thousands) Electric  utilityBankOtherTotalElectric  utilityBankOtherTotal
Revenues from contracts with customers
Electric energy sales - residential$272,541 $— $— $272,541 $758,602 $— $— $758,602 
Electric energy sales - commercial268,538 — — 268,538 761,788 — — 761,788 
Electric energy sales - large light and power294,421 — — 294,421 846,448 — — 846,448 
Electric energy sales - other 4,532 — — 4,532 14,087 — — 14,087 
Bank fees— 13,475 — 13,475 — 38,713 — 38,713 
Other sales— — 2,897 2,897 — — 9,167 9,167 
Total revenues from contracts with customers840,032 13,475 2,897 856,404 2,380,925 38,713 9,167 2,428,805 
Revenues from other sources
Regulatory revenue(19,924)— — (19,924)780 — — 780 
Bank interest and dividend income— 87,655 — 87,655 — 261,768 — 261,768 
Other bank noninterest income— 4,014 — 4,014 — 11,750 — 11,750 
Other9,509 — 725 10,234 28,821 — 977 29,798 
Total revenues from other sources(10,415)91,669 725 81,979 29,601 273,518 977 304,096 
Total revenues$829,617 $105,144 $3,622 $938,383 $2,410,526 $312,231 $10,144 $2,732,901 
Timing of revenue recognition
Services/goods transferred at a point in time$— $13,475 $— $13,475 $— $38,713 $— $38,713 
Services/goods transferred over time840,032 — 2,897 842,929 2,380,925 — 9,167 2,390,092 
Total revenues from contracts with customers$840,032 $13,475 $2,897 $856,404 $2,380,925 $38,713 $9,167 $2,428,805 
Three months ended September 30, 2023Nine months ended September 30, 2023
(in thousands) Electric  utilityBankOtherTotalElectric  utilityBankOtherTotal
Revenues from contracts with customers
Electric energy sales - residential
$257,790 $— $— $257,790 $753,207 $— $— $753,207 
Electric energy sales - commercial
257,876 — — 257,876 762,454 — — 762,454 
Electric energy sales - large light and power
284,607 — — 284,607 855,396 — — 855,396 
Electric energy sales - other4,688 — — 4,688 14,628 — — 14,628 
Bank fees— 12,067 — 12,067 — 36,370 — 36,370 
Other sales— — 5,016 5,016 — — 13,361 13,361 
Total revenues from contracts with customers804,961 12,067 5,016 822,044 2,385,685 36,370 13,361 2,435,416 
Revenues from other sources
Regulatory revenue(20,927)— — (20,927)3,716 — — 3,716 
Bank interest and dividend income
— 85,636 — 85,636 — 246,856 — 246,856 
Other bank noninterest income— 3,271 — 3,271 — 8,490 — 8,490 
Other10,953 — 896 11,849 30,138 — 1,179 31,317 
Total revenues from other sources(9,974)88,907 896 79,829 33,854 255,346 1,179 290,379 
Total revenues$794,987 $100,974 $5,912 $901,873 $2,419,539 $291,716 $14,540 $2,725,795 
Timing of revenue recognition
Services/goods transferred at a point in time
$— $12,067 $— $12,067 $— $36,370 $— $36,370 
Services/goods transferred over time
804,961 — 5,016 809,977 2,385,685 — 13,361 2,399,046 
Total revenues from contracts with customers$804,961 $12,067 $5,016 $822,044 $2,385,685 $36,370 $13,361 $2,435,416 
There are no material contract assets or liabilities associated with revenues from contracts with customers existing at December 31, 2023 or as of September 30, 2024. Accounts receivable and unbilled revenues related to contracts with customers represent an unconditional right to consideration since all performance obligations have been satisfied. These amounts are disclosed as accounts receivable and unbilled revenues, net on HEI’s condensed consolidated balance sheets and customer accounts receivable, net and accrued unbilled revenues, net on Hawaiian Electric’s condensed consolidated balance sheets.
As of September 30, 2024, the Company had no material remaining performance obligations due to the nature of the Company’s contracts with its customers. For the Utilities, performance obligations are fulfilled as electricity is delivered to customers. For ASB, fees are recognized when a transaction is completed.