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Retirement benefits (Tables) | 12 Months Ended
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Dec. 31, 2011
Retirement benefits |
Schedule of changes in the obligations and assets of the Company's retirement benefit plans and the changes in AOCI (gross) and the funded status |
|  | 2011 |  | 2010 |
(in thousands) |  | Pension benefits |  | Other benefits |  | Pension benefits |  | Other benefits |
Benefit obligation, January 1 |  | $1,174,534 |  | $180,332 |  |  | $1,014,287 |  | $170,572 |  |
Service cost |  | 35,016 |  | 4,409 |  |  | 28,801 |  | 4,739 |  |
Interest cost |  | 64,966 |  | 9,534 |  |  | 64,527 |  | 10,378 |  |
Amendments |  | – |  | (11,365 | ) |  | – |  | (7,713 | ) |
Actuarial losses |  | 104,970 |  | 16,518 |  |  | 121,898 |  | 11,817 |  |
Benefits paid and expenses |  | (57,056 | ) | (8,879 | ) |  | (54,979 | ) | (9,461 | ) |
Benefit obligation, December 31 |  | 1,322,430 |  | 190,549 |  |  | 1,174,534 |  | 180,332 |  |
Fair value of plan assets, January 1 |  | 832,356 |  | 151,117 |  |  | 738,971 |  | 134,608 |  |
Actual return (loss) on plan assets |  | (9,713 | ) | (2,308 | ) |  | 119,446 |  | 21,271 |  |
Employer contribution |  | 72,931 |  | 2,030 |  |  | 27,803 |  | 3,989 |  |
Benefits paid and expenses |  | (55,994 | ) | (7,847 | ) |  | (53,864 | ) | (8,751 | ) |
Fair value of plan assets, December 31 |  | 839,580 |  | 142,992 |  |  | 832,356 |  | 151,117 |  |
Accrued benefit liability, December 31 |  | (482,850 | ) | (47,557 | ) |  | (342,178 | ) | (29,215 | ) |
AOCI, January 1 (excluding impact of PUC D&Os) |  | 366,552 |  | 9,036 |  |  | 302,147 |  | 14,693 |  |
Recognized during year – net recognized transition obligation |  | (2 | ) | – |  |  | (2 | ) | – |  |
Recognized during year – prior service credit |  | 389 |  | 1,494 |  |  | 388 |  | 396 |  |
Recognized during year – net actuarial gains (losses) |  | (16,987 | ) | (234 | ) |  | (7,392 | ) | 14 |  |
Occurring during year – prior service cost |  | – |  | (11,365 | ) |  | – |  | (7,714 | ) |
Occurring during year – net actuarial losses |  | 183,585 |  | 29,753 |  |  | 71,411 |  | 1,647 |  |
|  | 533,537 |  | 28,684 |  |  | 366,552 |  | 9,036 |  |
Cumulative impact of PUC D&Os |  | (486,710 | ) | (29,183 | ) |  | (340,187 | ) | (10,880 | ) |
AOCI, December 31 |  | 46,827 |  | (499 | ) |  | 26,365 |  | (1,844 | ) |
Net actuarial loss |  | 534,054 |  | 48,152 |  |  | 367,456 |  | 18,633 |  |
Prior service gain |  | (518 | ) | (19,468 | ) |  | (907 | ) | (9,597 | ) |
Net transition obligation |  | 1 |  | – |  |  | 3 |  | – |  |
|  | 533,537 |  | 28,684 |  |  | 366,552 |  | 9,036 |  |
Cumulative impact of PUC D&Os |  | (486,710 | ) | (29,183 | ) |  | (340,187 | ) | (10,880 | ) |
AOCI, December 31 |  | 46,827 |  | (499 | ) |  | 26,365 |  | (1,844 | ) |
Income taxes (benefits) |  | (18,495 | ) | 194 |  |  | (10,403 | ) | 717 |  |
AOCI, net of taxes (benefits), December 31 |  | $ 28,332 |  | $ (305 | ) |  | $ 15,962 |  | $ (1,127 | ) |
Schedule of weighted-average asset allocation of defined benefit retirement plans |
|  | Pension benefits |  | Other benefits |
|  |  |  |  |  | Investment policy |  |  |  |  |  | Investment policy |
December 31 |  | 2011 |  | 2010 |  | Target |  | Range |  | 2011 |  | 2010 |  | Target |  | Range |
Asset category |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | 68% |  | 71% |  | 70% |  | 65-75% |  | 69% |  | 70% |  | 70% |  | 65-75% |
Fixed income |  | 32 |  | 29 |  | 30 |  | 25-35% |  | 31 |  | 30 |  | 30 |  | 25-35% |
|  | 100% |  | 100% |  | 100% |  |  |  | 100% |  | 100% |  | 100% |  |  |
Schedule of weighted-average assumptions used in accounting for plans |
|  | Pension benefits |  | Other benefits |
December 31 |  | 2011 |  | 2010 |  | 2009 |  | 2011 |  | 2010 |  | 2009 |
Benefit obligation |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  | 5.19% |  | 5.68% |  | 6.50% |  | 4.90% |  | 5.60% |  | 6.50% |
Rate of compensation increase |  | 3.5 |  | 3.5 |  | 3.5 |  | NA |  | NA |  | NA |
Net periodic benefit cost (years ended) Discount rate |  | 5.68 |  | 6.50 |  | 6.625 |  | 5.60 |  | 6.50 |  | 6.50 |
Expected return on plan assets |  | 8.00 |  | 8.25 |  | 8.25 |  | 8.00 |  | 8.25 |  | 8.25 |
Rate of compensation increase |  | 3.5 |  | 3.5 |  | 3.5 |  | NA |  | NA |  | 3.5 |
Schedule of components of net periodic benefit cost for consolidated HEI |
|  | Pension benefits |  | Other benefits |
(in thousands) |  | 2011 |  | 2010 |  | 2009 |  | 2011 |  | 2010 |  | 2009 |
Service cost |  | $ 35,016 |  | $ 28,801 |  | $ 25,688 |  | $ 4,409 |  | $ 4,739 |  | $ 4,846 |
Interest cost |  | 64,966 |  | 64,527 |  | 61,988 |  | 9,534 |  | 10,378 |  | 10,981 |
Expected return on plan assets |  | (68,901 | ) | (68,959 | ) | (57,244 | ) | (10,650 | ) | (11,101 | ) | (8,902 | )
Amortization of net transition obligation |  | 2 |  | 2 |  | 2 |  | – |  | – |  | 1,831 |
Amortization of net prior service gain |  | (389 | ) | (388 | ) | (387 | ) | (1,494 | ) | (396 | ) | (79 | )
Amortization of net actuarial loss (gain) |  | 16,987 |  | 7,392 |  | 15,847 |  | 234 |  | (14 | ) | 401 |
Net periodic benefit cost |  | 47,681 |  | 31,375 |  | 45,894 |  | 2,033 |  | 3,606 |  | 9,078 |
Impact of PUC D&Os |  | (3,516 | ) | 10,207 |  | (10,570 | ) | 2,674 |  | 5,400 |  | (132 | )
Net periodic benefit cost (adjusted for impact of PUC D&Os) |  | $ 44,165 |  | $ 41,582 |  | $ 35,324 |  | $ 4,707 |  | $ 9,006 |  | $ 8,946 |

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- Definition Tabular disclosure of changes in benefit obligations including accumulated benefit obligation, projected benefit obligation and the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements and net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost and net funded status of pension plans and/or other employee benefit plans. + References No definition available. + Details
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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (k) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 715 -SubTopic 20 -Publisher FASB -Number -Article -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920 + Details
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