v3.24.3
Electric utility segment - Condensed Consolidating Balance Sheet (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Utility property, plant and equipment                
Total property, plant and equipment, net $ 6,296,088     $ 6,150,126        
Current assets                
Cash and cash equivalents 1,159,635     679,546 $ 667,129      
Restricted cash 13,645     15,028 15,164      
Other long-term assets                
Operating lease right-of-use assets 84,645     94,905        
Total assets 17,731,228     17,243,821        
Capitalization                
Common stock equity 1,577,041 $ 1,085,273 $ 2,377,380 2,344,841 2,224,354 $ 2,249,377 $ 2,237,955 $ 2,202,499
Preferred stock of subsidiaries - not subject to mandatory redemption 34,293     34,293        
Current liabilities                
Interest and dividends payable 50,076     51,206        
Deferred credits and other liabilities                
Deferred income taxes 0     297,954        
Total liabilities and shareholders’ equity 17,731,228     17,243,821        
Hawaiian Electric Consolidated                
Utility property, plant and equipment                
Land 52,019     52,098        
Plant and equipment 8,413,151     8,232,810        
Financing lease right-of-use assets 449,572     342,174        
Less accumulated depreciation (3,323,190)     (3,197,514)        
Construction in progress 346,673     320,223        
Utility property, plant and equipment, net 5,938,225     5,749,791        
Nonutility property, plant and equipment, less accumulated depreciation 6,939     6,942        
Total property, plant and equipment, net 5,945,164     5,756,733        
Investment in wholly owned subsidiaries, at equity 0     0        
Current assets                
Cash and cash equivalents 147,624     106,077 274,854      
Restricted cash 2,000     2,000 2,000      
Advances to affiliates 0     0        
Customer accounts receivable, net 207,953     244,309        
Accrued unbilled revenues, net 199,657     185,644        
Other accounts receivable, net 85,488     111,519        
Fuel oil stock, at average cost 109,043     148,237        
Materials and supplies, at average cost 114,054     114,433        
Prepayments and other 94,823     58,491        
Regulatory assets 59,836     68,453        
Total current assets 1,020,478     1,039,163        
Other long-term assets                
Operating lease right-of-use assets 61,007     71,877        
Regulatory assets 254,411     226,351        
Other 282,144     189,430        
Total other long-term assets 597,562     487,658        
Total assets 7,563,204     7,283,554        
Capitalization                
Common stock equity 1,110,259 $ 1,192,842 $ 2,435,282 2,409,110 2,383,023 $ 2,371,889 $ 2,358,884 2,344,170
Preferred stock of subsidiaries - not subject to mandatory redemption 34,293     34,293        
Long-term debt, net 1,888,003     1,934,277        
Total capitalization 3,032,555     4,377,680        
Current liabilities                
Current portion of operating lease liabilities 15,411     16,617        
Current portion of long-term debt 46,977     0        
Accounts payable 202,427     191,040        
Interest and dividends payable 29,817     22,882        
Taxes accrued, including revenue taxes 261,653     291,942        
Regulatory liabilities 25,684     36,559        
Wildfire tort-related claims (Note 2) 478,750     75,000        
Other 113,695     96,436        
Total current liabilities 1,174,414     730,476        
Deferred credits and other liabilities                
Operating lease liabilities 51,096     62,098        
Finance lease liabilities 430,923     330,978        
Deferred income taxes 0     399,001        
Regulatory liabilities 1,165,415     1,114,131        
Unamortized tax credits 78,206     84,312        
Defined benefit pension and other postretirement benefit plans liability 60,881     60,671        
Wildfire tort-related claims (Note 2) 1,436,250     0        
Other 133,464     124,207        
Total deferred credits and other liabilities 3,356,235     2,175,398        
Total liabilities and shareholders’ equity 7,563,204     7,283,554        
Hawaiian Electric Consolidated | Affiliated Entity                
Current liabilities                
Short-term borrowings from non-affiliates 0     0        
Consolidating adjustments | Hawaiian Electric Consolidated                
Utility property, plant and equipment                
Land 0     0        
Plant and equipment 0     0        
Financing lease right-of-use assets 0     0        
Less accumulated depreciation 0     0        
Construction in progress 0     0        
Utility property, plant and equipment, net 0     0        
Nonutility property, plant and equipment, less accumulated depreciation 0     0        
Total property, plant and equipment, net 0     0        
Investment in wholly owned subsidiaries, at equity (669,450)     (722,211)        
Current assets                
Cash and cash equivalents 0     0 0      
Restricted cash 0     0 0      
Advances to affiliates (46,200)     (70,500)        
Customer accounts receivable, net 0     0        
Accrued unbilled revenues, net 0     0        
Other accounts receivable, net (223,945)     (77,480)        
Fuel oil stock, at average cost 0     0        
Materials and supplies, at average cost 0     0        
Prepayments and other (1,718)     (1,638)        
Regulatory assets 0     0        
Total current assets (271,863)     (149,618)        
Other long-term assets                
Operating lease right-of-use assets 0     0        
Regulatory assets 0     0        
Other (40,584)     (14,171)        
Total other long-term assets (40,584)     (14,171)        
Total assets (981,897)     (886,000)        
Capitalization                
Common stock equity (669,450)     (722,211) (703,311)     (701,833)
Preferred stock of subsidiaries - not subject to mandatory redemption 0     0        
Long-term debt, net 0     0        
Total capitalization (669,450)     (722,211)        
Current liabilities                
Current portion of operating lease liabilities 0     0        
Current portion of long-term debt 0              
Accounts payable 0     0        
Interest and dividends payable (537)     (375)        
Taxes accrued, including revenue taxes (1,718)     (1,638)        
Regulatory liabilities 0     0        
Wildfire tort-related claims (Note 2) 0     0        
Other (223,408)     (77,105)        
Total current liabilities (271,863)     (149,618)        
Deferred credits and other liabilities                
Operating lease liabilities 0     0        
Finance lease liabilities 0     0        
Deferred income taxes (25,558)     0        
Regulatory liabilities 0     0        
Unamortized tax credits 0     0        
Defined benefit pension and other postretirement benefit plans liability (15,026)     (14,171)        
Wildfire tort-related claims (Note 2) 0              
Other 0     0        
Total deferred credits and other liabilities (40,584)     (14,171)        
Total liabilities and shareholders’ equity (981,897)     (886,000)        
Consolidating adjustments | Hawaiian Electric Consolidated | Affiliated Entity                
Current liabilities                
Short-term borrowings from non-affiliates (46,200)     (70,500)        
Hawaiian Electric                
Current assets                
Cash and cash equivalents 677,700              
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated                
Utility property, plant and equipment                
Land 42,860     42,859        
Plant and equipment 5,503,512     5,398,281        
Financing lease right-of-use assets 362,741     306,099        
Less accumulated depreciation (2,028,302)     (1,925,660)        
Construction in progress 276,525     247,836        
Utility property, plant and equipment, net 4,157,336     4,069,415        
Nonutility property, plant and equipment, less accumulated depreciation 5,292     5,295        
Total property, plant and equipment, net 4,162,628     4,074,710        
Investment in wholly owned subsidiaries, at equity 669,450     722,211        
Current assets                
Cash and cash equivalents 99,392     89,755 233,518      
Restricted cash 2,000     2,000 2,000      
Advances to affiliates 46,200     70,500        
Customer accounts receivable, net 32,405     172,747        
Accrued unbilled revenues, net 23,595     136,367        
Other accounts receivable, net 193,771     143,160        
Fuel oil stock, at average cost 79,736     108,228        
Materials and supplies, at average cost 66,289     64,334        
Prepayments and other 70,526     40,767        
Regulatory assets 46,579     58,920        
Total current assets 660,493     886,778        
Other long-term assets                
Operating lease right-of-use assets 31,134     34,856        
Regulatory assets 207,572     189,417        
Other 250,162     134,033        
Total other long-term assets 488,868     358,306        
Total assets 5,981,439     6,042,005        
Capitalization                
Common stock equity 1,110,259     2,409,110 2,383,023     2,344,170
Preferred stock of subsidiaries - not subject to mandatory redemption 22,293     22,293        
Long-term debt, net 1,387,029     1,426,516        
Total capitalization 2,519,581     3,857,919        
Current liabilities                
Current portion of operating lease liabilities 5,183     6,788        
Current portion of long-term debt 39,980              
Accounts payable 141,147     136,102        
Interest and dividends payable 22,194     17,085        
Taxes accrued, including revenue taxes 187,756     211,840        
Regulatory liabilities 10,887     20,013        
Wildfire tort-related claims (Note 2) 383,000     75,000        
Other 91,572     90,131        
Total current liabilities 881,719     556,959        
Deferred credits and other liabilities                
Operating lease liabilities 30,785     34,262        
Finance lease liabilities 346,344     295,935        
Deferred income taxes 0     280,029        
Regulatory liabilities 839,392     803,404        
Unamortized tax credits 56,219     61,130        
Defined benefit pension and other postretirement benefit plans liability 75,907     74,842        
Wildfire tort-related claims (Note 2) 1,149,000              
Other 82,492     77,525        
Total deferred credits and other liabilities 2,580,139     1,627,127        
Total liabilities and shareholders’ equity 5,981,439     6,042,005        
Hawaiian Electric | Reportable Legal Entities | Hawaiian Electric Consolidated | Affiliated Entity                
Current liabilities                
Short-term borrowings from non-affiliates 0     0        
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated                
Utility property, plant and equipment                
Land 5,645     5,645        
Plant and equipment 1,494,982     1,459,639        
Financing lease right-of-use assets 36,074     36,075        
Less accumulated depreciation (685,469)     (666,581)        
Construction in progress 27,878     33,488        
Utility property, plant and equipment, net 879,110     868,266        
Nonutility property, plant and equipment, less accumulated depreciation 115     115        
Total property, plant and equipment, net 879,225     868,381        
Investment in wholly owned subsidiaries, at equity 0     0        
Current assets                
Cash and cash equivalents 25,734     10,658 32,716      
Restricted cash 0     0 0      
Advances to affiliates 0     0        
Customer accounts receivable, net 7,594     38,216        
Accrued unbilled revenues, net 5,568     25,102        
Other accounts receivable, net 61,265     13,318        
Fuel oil stock, at average cost 10,657     17,968        
Materials and supplies, at average cost 14,736     14,397        
Prepayments and other 7,456     7,724        
Regulatory assets 4,761     5,771        
Total current assets 137,771     133,154        
Other long-term assets                
Operating lease right-of-use assets 22,422     27,470        
Regulatory assets 16,091     13,575        
Other 37,716     36,439        
Total other long-term assets 76,229     77,484        
Total assets 1,093,225     1,079,019        
Capitalization                
Common stock equity 237,105     359,790 352,170     344,720
Preferred stock of subsidiaries - not subject to mandatory redemption 7,000     7,000        
Long-term debt, net 244,437     249,339        
Total capitalization 488,542     616,129        
Current liabilities                
Current portion of operating lease liabilities 7,302     7,025        
Current portion of long-term debt 4,998              
Accounts payable 24,484     29,418        
Interest and dividends payable 3,652     3,098        
Taxes accrued, including revenue taxes 40,137     43,932        
Regulatory liabilities 9,782     8,508        
Wildfire tort-related claims (Note 2) 47,875     0        
Other 28,782     33,240        
Total current liabilities 167,012     125,221        
Deferred credits and other liabilities                
Operating lease liabilities 15,480     20,792        
Finance lease liabilities 34,543     35,043        
Deferred income taxes 3,024     51,661        
Regulatory liabilities 208,022     199,173        
Unamortized tax credits 10,887     11,650        
Defined benefit pension and other postretirement benefit plans liability 0     0        
Wildfire tort-related claims (Note 2) 143,625              
Other 22,090     19,350        
Total deferred credits and other liabilities 437,671     337,669        
Total liabilities and shareholders’ equity 1,093,225     1,079,019        
Hawaii Electric Light | Reportable Legal Entities | Hawaiian Electric Consolidated | Affiliated Entity                
Current liabilities                
Short-term borrowings from non-affiliates 0     0        
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated                
Utility property, plant and equipment                
Land 3,514     3,594        
Plant and equipment 1,414,657     1,374,890        
Financing lease right-of-use assets 50,757     0        
Less accumulated depreciation (609,419)     (605,273)        
Construction in progress 42,270     38,899        
Utility property, plant and equipment, net 901,779     812,110        
Nonutility property, plant and equipment, less accumulated depreciation 1,532     1,532        
Total property, plant and equipment, net 903,311     813,642        
Investment in wholly owned subsidiaries, at equity 0     0        
Current assets                
Cash and cash equivalents 11,833     5,587 8,543      
Restricted cash 0     0 0      
Advances to affiliates 0     0        
Customer accounts receivable, net 9,774     33,346        
Accrued unbilled revenues, net 3,560     24,175        
Other accounts receivable, net 54,397     32,521        
Fuel oil stock, at average cost 18,650     22,041        
Materials and supplies, at average cost 33,029     35,702        
Prepayments and other 18,559     11,638        
Regulatory assets 8,496     3,762        
Total current assets 158,298     168,772        
Other long-term assets                
Operating lease right-of-use assets 7,451     9,551        
Regulatory assets 30,748     23,359        
Other 34,850     33,129        
Total other long-term assets 73,049     66,039        
Total assets 1,134,658     1,048,453        
Capitalization                
Common stock equity 280,629     362,344 351,064     357,036
Preferred stock of subsidiaries - not subject to mandatory redemption 5,000     5,000        
Long-term debt, net 256,537     258,422        
Total capitalization 542,166     625,766        
Current liabilities                
Current portion of operating lease liabilities 2,926     2,804        
Current portion of long-term debt 1,999              
Accounts payable 36,796     25,520        
Interest and dividends payable 4,508     3,074        
Taxes accrued, including revenue taxes 34,984     37,808        
Regulatory liabilities 5,015     8,038        
Wildfire tort-related claims (Note 2) 47,875     0        
Other 33,180     50,170        
Total current liabilities 213,483     197,914        
Deferred credits and other liabilities                
Operating lease liabilities 4,831     7,044        
Finance lease liabilities 50,036     0        
Deferred income taxes 22,534     67,311        
Regulatory liabilities 118,001     111,554        
Unamortized tax credits 11,100     11,532        
Defined benefit pension and other postretirement benefit plans liability 0     0        
Wildfire tort-related claims (Note 2) 143,625              
Other 28,882     27,332        
Total deferred credits and other liabilities 379,009     224,773        
Total liabilities and shareholders’ equity 1,134,658     1,048,453        
Maui Electric | Reportable Legal Entities | Hawaiian Electric Consolidated | Affiliated Entity                
Current liabilities                
Short-term borrowings from non-affiliates 46,200     70,500        
Other subsidiaries | Reportable Legal Entities | Hawaiian Electric Consolidated                
Utility property, plant and equipment                
Land 0     0        
Plant and equipment 0     0        
Financing lease right-of-use assets 0     0        
Less accumulated depreciation 0     0        
Construction in progress 0     0        
Utility property, plant and equipment, net 0     0        
Nonutility property, plant and equipment, less accumulated depreciation 0     0        
Total property, plant and equipment, net 0     0        
Investment in wholly owned subsidiaries, at equity 0     0        
Current assets                
Cash and cash equivalents 10,665     77 77      
Restricted cash 0     0 0      
Advances to affiliates 0     0        
Customer accounts receivable, net 158,180     0        
Accrued unbilled revenues, net 166,934     0        
Other accounts receivable, net 0     0        
Fuel oil stock, at average cost 0     0        
Materials and supplies, at average cost 0     0        
Prepayments and other 0     0        
Regulatory assets 0     0        
Total current assets 335,779     77        
Other long-term assets                
Operating lease right-of-use assets 0     0        
Regulatory assets 0     0        
Other 0     0        
Total other long-term assets 0     0        
Total assets 335,779     77        
Capitalization                
Common stock equity 151,716     77 $ 77     $ 77
Preferred stock of subsidiaries - not subject to mandatory redemption 0     0        
Long-term debt, net 0     0        
Total capitalization 151,716     77        
Current liabilities                
Current portion of operating lease liabilities 0     0        
Current portion of long-term debt 0              
Accounts payable 0     0        
Interest and dividends payable 0     0        
Taxes accrued, including revenue taxes 494     0        
Regulatory liabilities 0     0        
Wildfire tort-related claims (Note 2) 0     0        
Other 183,569     0        
Total current liabilities 184,063     0        
Deferred credits and other liabilities                
Operating lease liabilities 0     0        
Finance lease liabilities 0     0        
Deferred income taxes 0     0        
Regulatory liabilities 0     0        
Unamortized tax credits 0     0        
Defined benefit pension and other postretirement benefit plans liability 0     0        
Wildfire tort-related claims (Note 2) 0              
Other 0            
Total deferred credits and other liabilities 0     0        
Total liabilities and shareholders’ equity 335,779     77        
Other subsidiaries | Reportable Legal Entities | Hawaiian Electric Consolidated | Affiliated Entity                
Current liabilities                
Short-term borrowings from non-affiliates $ 0     $ 0