EX-99.1 26 a10-24334_1ex99d1.htm HECO EX-99.1

HECO Exhibit 99.1

Hawaiian Electric Company, Inc.

RECONCILIATION OF ELECTRIC UTILITY OPERATING

INCOME PER HEI AND HECO CONSOLIDATED

STATEMENTS OF INCOME

Years ended December 31 |  | 2010 |  | 2009 |  | 2008 |
(in thousands) |  |  |  |  |  |  |
Operating income from regulated and nonregulated activities before income taxes (per HEI Consolidated Statements of Income) |  | $ | 178,388 |  | $ | 169,671 |  | $ | 191,359 |
Deduct: |  |  |  |  |  |  |
Income taxes on regulated activities |  | (48,053 | ) | (48,212 | ) | (56,307 | )
Revenues from nonregulated activities |  | (14,925 | ) | (8,337 | ) | (6,711 | )
Add: |  |  |  |  |  |  |
Expenses from nonregulated activities |  | 4,431 |  | 1,286 |  | 1,596 |
Operating income from regulated activities after income taxes (per HECO Consolidated Statements of Income) |  | $ | 119,841 |  | $ | 114,408 |  | $ | 129,937 |