HAWAIIAN ELECTRIC INDUSTRIES INC HE Income Statement

Hawaiian electric industries inc (HE)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues
Total revenues
677,186	725,966	771,535	715,485	661,615	761,650	768,048	685,277	645,874	658,597	673,185	632,281	591,562	617,395	646,055	566,244	550,960	624,032	717,176	623,912	637,862	790,040	867,096	798,657	783,749	832,503	829,168	794,567	782,232	838,147	867,720	854,268	814,860	851,028	886,355	794,319	710,633	695,737	694,541	655,664	619,040	620,313	525,901
Expenses
Purchased power
-	-	176,000	162,000	-	-	177,000	161,000	140,000	-	161,000	153,000	127,000	-	158,000	139,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
617,484	625,171	674,227	642,851	583,678	677,046	669,984	606,478	573,985	571,377	561,712	554,479	521,824	521,305	540,613	480,789	482,109	540,810	620,081	551,182	568,356	721,873	775,060	715,474	694,535	752,065	741,130	714,360	713,407	800,875	776,018	774,862	739,044	782,858	791,865	730,658	647,258	636,495	621,910	592,033	558,333	551,674	490,846
Operating income (loss)
Total operating income
59,702	100,795	97,308	72,634	77,937	84,604	98,064	78,799	71,889	87,220	111,473	77,802	69,738	96,090	105,442	85,455	68,851	83,222	97,095	72,730	69,506	68,167	92,036	83,183	89,214	80,438	88,038	80,207	68,825	37,272	91,702	79,406	75,816	68,170	94,490	63,661	63,375	59,242	72,631	63,631	60,707	68,639	35,055
Retirement defined benefits expenseother than service costs
934	634	648	761	763	1,289	1,276	1,564	1,833	2,232	1,928	1,906	1,876	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merger termination fee
-	-	-	-	-	-	-	-	-	-	-	-	-	-	90,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense, net—other than on deposit liabilities and other bank borrowings
21,775	21,818	22,425	23,533	23,123	22,635	22,523	22,001	21,518	19,737	19,227	20,440	19,568	19,011	19,365	17,301	20,126	19,915	19,229	18,906	19,100	17,704	19,170	20,022	19,456	19,263	19,043	18,442	18,731	19,393	20,020	20,199	18,539	17,840	19,949	24,177	20,140	19,622	21,015	20,520	20,381	19,678	17,910
Allowance for borrowed funds used during construction
688	988	1,208	1,179	1,078	1,052	1,006	1,365	1,444	1,407	1,339	1,143	889	868	854	760	662	1,537	737	682	-499	4,456	-740	-523	-614	-620	-498	-398	-730	-1,904	-688	-893	-870	-767	-658	-553	-520	-497	-492	-790	-779	-1,118	-1,727
Allowance for equity funds used during construction
2,015	2,652	3,250	3,175	2,910	2,638	1,962	2,983	3,294	3,575	3,482	3,027	2,399	2,315	2,274	1,997	1,739	1,562	2,057	1,896	1,413	1,838	1,937	1,387	1,609	1,531	1,255	1,560	1,215	1,459	1,611	1,997	1,940	1,833	1,570	1,317	1,244	1,199	1,197	1,847	1,773	2,628	4,120
Income before income taxes
39,696	81,983	78,693	52,694	58,039	64,370	77,233	59,582	53,276	70,233	95,139	59,626	51,582	72,599	179,205	70,911	51,126	65,408	80,660	56,402	52,318	53,003	75,543	65,071	71,981	63,326	70,748	63,723	52,039	21,242	73,981	62,097	60,087	52,930	76,769	41,354	44,999	41,316	53,305	45,748	42,878	52,707	22,992
Income taxes
5,803	15,247	14,803	9,709	11,878	14,324	10,862	13,055	12,556	37,390	34,595	20,492	16,916	27,492	51,592	26,310	18,301	22,615	29,516	20,911	19,979	19,277	27,264	23,317	25,721	23,647	22,041	22,662	17,887	6,933	25,804	22,824	21,298	18,232	27,894	13,742	16,064	16,145	20,385	16,013	15,279	18,753	7,040
Net income
33,893	66,736	63,890	42,985	46,161	50,046	66,371	46,527	40,720	32,843	60,544	39,134	34,666	45,107	127,613	44,601	32,825	42,793	51,144	35,491	32,339	33,726	48,279	41,754	46,260	39,679	48,707	41,061	34,152	14,309	48,177	39,273	38,789	34,698	48,875	27,612	28,935	25,171	32,920	29,735	27,599	33,954	15,952
Preferred stock dividends of subsidiaries
473	473	471	473	473	473	471	473	473	473	471	473	473	473	471	473	473	473	471	473	473	473	471	473	473	473	471	473	473	473	471	473	473	473	471	473	473	473	471	473	473	471	473
Net income attributable to Hawaiian Electric
33,420	66,263	63,419	42,512	45,688	49,573	65,900	46,054	40,247	32,370	60,073	38,661	34,193	44,634	127,142	44,128	32,352	42,320	50,673	35,018	31,866	33,253	47,808	41,281	45,787	39,206	48,236	40,588	33,679	13,836	47,706	38,800	38,316	34,225	48,404	27,139	28,462	24,698	32,449	29,262	27,126	33,483	15,479
Basic earnings per common share (in dollars per share)
0.31	0.61	0.58	0.39	0.42	0.45	0.61	0.42	0.37	0.30	0.55	0.36	0.31	0.42	1.17	0.41	0.30	0.39	0.47	0.33	0.31	0.32	0.47	0.41	0.45	0.39	0.49	0.41	0.34	0.14	0.49	0.40	0.40	0.37	0.50	0.28	0.30	0.27	0.35	0.31	0.29	0.37	0.17
Diluted earnings per common share (in dollars per share)
0.31	0.60	0.58	0.39	0.42	0.46	0.60	0.42	0.37	0.30	0.55	0.36	0.31	0.41	1.17	0.41	0.30	0.39	0.47	0.33	0.31	0.31	0.46	0.41	0.45	0.39	0.48	0.41	0.34	0.13	0.49	0.40	0.40	0.36	0.50	0.28	0.30	0.26	0.35	0.31	0.29	0.37	0.17
Dividends declared per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	0.31	0.31	-	0.31	0.31	0.31	-	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31
Weighted-average number of common shares outstanding (in shares)
109,051	108,972	108,973	108,938	108,913	108,881	108,879	108,842	108,818	108,786	108,786	108,750	108,674	108,558	108,268	107,962	107,620	107,516	107,457	107,418	103,281	102,579	102,416	101,495	101,382	99,873	99,204	98,660	98,135	97,615	97,157	96,693	96,167	95,957	95,873	95,393	94,817	94,254	93,699	93,159	92,572	91,522	91,384
Net effect of potentially dilutive shares (in shares)
314	770	390	317	355	661	176	121	206	426	79	47	184	292	204	171	161	369	281	276	286	2,153	610	330	783	1,012	614	589	405	679	361	286	394	486	227	162	365	365	192	255	276	131	110
Weighted-average shares assuming dilution (in shares)
109,365	109,742	109,363	109,255	109,268	109,542	109,055	108,963	109,024	109,212	108,865	108,797	108,858	108,850	108,472	108,133	107,781	107,885	107,738	107,694	103,567	104,732	103,026	101,825	102,165	100,885	99,818	99,249	98,540	98,294	97,518	96,979	96,561	96,443	96,100	95,555	95,182	94,619	93,891	93,414	92,848	91,653	91,494
Electric utility
Total revenues
597,442	645,333	688,330	633,784	578,495	680,563	687,409	608,126	570,427	583,311	598,769	556,875	518,611	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
553,484	575,002	616,537	578,090	521,935	619,451	613,373	552,982	519,058	515,127	510,272	500,393	468,250	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating income
43,958	70,331	71,793	55,694	56,560	61,112	74,036	55,144	51,369	68,184	88,497	56,482	50,361	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before income taxes
29,686	56,365	58,099	40,817	41,859	45,579	57,354	40,344	37,149	54,430	74,990	41,003	34,722	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes
5,282	10,505	10,822	7,744	9,234	9,783	7,144	8,676	9,175	28,576	27,005	14,860	12,758	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
24,404	45,860	47,277	33,073	32,625	35,796	50,210	31,668	27,974	25,854	47,985	26,143	21,964	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock dividends of subsidiaries
499	499	498	499	499	499	498	499	499	499	498	499	499	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income for common stock
23,905	45,361	46,779	32,574	32,126	35,297	49,712	31,169	27,475	25,355	47,487	25,644	21,465	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bank
Total revenues
79,738	80,630	83,201	81,687	83,052	81,256	80,496	77,104	75,419	75,166	74,289	75,329	72,856	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
60,335	45,403	54,240	60,435	56,930	52,089	53,232	50,187	50,532	51,958	47,313	50,332	48,501	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating income
19,403	35,227	28,961	21,252	26,122	29,167	27,264	26,917	24,887	23,208	26,976	24,997	24,355	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before income taxes
18,969	35,423	29,157	21,292	26,162	28,733	26,831	26,514	24,500	22,996	26,764	24,796	24,160	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes
3,208	7,193	6,269	4,276	5,323	6,966	5,610	5,953	5,540	6,137	9,172	8,063	8,347	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
15,761	28,230	22,888	17,016	20,839	21,767	21,221	20,561	18,960	16,859	17,592	16,733	15,813	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock dividends of subsidiaries
0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income for common stock
15,761	28,230	22,888	17,016	20,839	21,767	21,221	20,561	18,960	16,859	17,592	16,733	15,813	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
Total revenues
6	3	4	14	68	-169	143	47	28	120	127	77	95	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
3,665	4,766	3,450	4,326	4,813	5,506	3,379	3,309	4,395	4,292	4,127	3,754	5,073	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating income
-3,659	-4,763	-3,446	-4,312	-4,745	-5,675	-3,236	-3,262	-4,367	-4,172	-4,000	-3,677	-4,978	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before income taxes
-8,959	-9,805	-8,563	-9,415	-9,982	-9,942	-6,952	-7,276	-8,373	-7,193	-6,615	-6,173	-7,300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes
-2,687	-2,451	-2,288	-2,311	-2,679	-2,425	-1,892	-1,574	-2,159	2,677	-1,582	-2,431	-4,189	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
-6,272	-7,354	-6,275	-7,104	-7,303	-7,517	-5,060	-5,702	-6,214	-9,870	-5,033	-3,742	-3,111	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock dividends of subsidiaries
-26	-26	-27	-26	-26	-26	-27	-26	-26	-26	-27	-26	-26	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income for common stock
-6,246	-7,328	-6,248	-7,078	-7,277	-7,491	-5,033	-5,676	-6,188	-9,844	-5,006	-3,716	-3,085	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Hawaiian Electric Company, Inc. and Subsidiaries
Total revenues
597,442	-	688,330	633,784	578,495	-	687,409	608,126	570,427	-	598,769	556,875	518,611	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fuel oil
173,221	-	199,093	181,620	160,609	-	206,551	171,717	166,968	-	146,258	141,259	144,270	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchased power
139,816	-	175,037	162,854	134,445	-	177,590	160,738	139,910	-	160,347	153,067	127,124	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operation and maintenance
127,547	-	124,415	119,260	118,130	-	113,553	112,642	107,610	-	98,681	104,939	98,817	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation
55,850	-	53,935	53,913	53,947	-	50,983	50,361	50,466	-	48,206	48,156	48,216	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes, other than income taxes
57,050	-	64,057	60,443	54,804	-	64,696	57,524	54,104	-	56,780	52,972	49,823	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
553,484	-	616,537	578,090	521,935	-	613,373	552,982	519,058	-	510,272	500,393	468,250	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating income
43,958	-	71,793	55,694	56,560	-	74,036	55,144	51,369	-	88,497	56,482	50,361	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Retirement defined benefits expense—other than service costs
381	-	723	701	703	-	682	988	1,264	-	1,421	1,435	1,423	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Retirement defined benefits expense—other than service costs
381	-	-	-	703	-	-	-	-	-	1,421	1,435	1,423	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Allowance for borrowed funds used during construction
688	-	1,208	1,179	1,078	-	1,006	1,365	1,444	-	1,339	1,143	889	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Allowance for equity funds used during construction
2,015	-	3,250	3,175	2,910	-	1,962	2,983	3,294	-	3,482	3,027	2,399	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense and other charges, net
16,594	-	17,429	18,530	17,986	-	18,968	18,160	17,694	-	16,907	18,214	17,504	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before income taxes
29,686	-	58,099	40,817	41,859	-	57,354	40,344	37,149	-	74,990	41,003	34,722	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes
5,282	-	10,822	7,744	9,234	-	7,144	8,676	9,175	-	27,005	14,860	12,758	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
24,404	-	47,277	33,073	32,625	-	50,210	31,668	27,974	-	47,985	26,143	21,964	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock dividends of subsidiaries
229	-	228	229	229	-	228	229	229	-	228	229	229	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to Hawaiian Electric
24,175	-	47,049	32,844	32,396	-	49,982	31,439	27,745	-	47,757	25,914	21,735	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock dividends of Hawaiian Electric
270	-	270	270	270	-	270	270	270	-	270	270	270	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income for common stock
23,905	-	46,779	32,574	32,126	-	49,712	31,169	27,475	-	47,487	25,644	21,465	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-