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Consolidating financial information - HECO (Hawaiian Electric Company, Inc. and Subsidiaries) | 9 Months Ended
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Sep. 30, 2013
Hawaiian Electric Company, Inc. and Subsidiaries |
Consolidating financial information | Consolidating financial information Hawaiian Electric is not required to provide separate financial statements or other disclosures concerning Hawaii Electric Light and Maui Electric to holders of the 2004 Debentures issued by Hawaii Electric Light and Maui Electric to Trust III since all of their voting capital stock is owned, and their obligations with respect to these securities have been fully and unconditionally guaranteed, on a subordinated basis, by Hawaiian Electric. Consolidating information is provided below for these and other Hawaiian Electric subsidiaries for the periods ended and as of the dates indicated. Hawaiian Electric also unconditionally guarantees Hawaii Electric Light’s and Maui Electric’s obligations (a) to the State of Hawaii for the repayment of principal and interest on Special Purpose Revenue Bonds issued for the benefit of Hawaii Electric Light and Maui Electric, (b) under their respective private placement note agreements and the Hawaii Electric Light notes and Maui Electric notes issued thereunder and (c) relating to the trust preferred securities of Trust III (see Note 2 above). Hawaiian Electric is also obligated, after the satisfaction of its obligations on its own preferred stock, to make dividend, redemption and liquidation payments on Hawaii Electric Light’s and Maui Electric’s preferred stock if the respective subsidiary is unable to make such payments. Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Statement of Income (Loss) (unaudited) Three months ended September 30, 2013
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Operating revenues |  | $ | 547,310 |  |  | 107,924 |  |  | 108,699 |  |  | — |  |  | — |  |  | $ | 763,933 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fuel oil |  | 206,478 |  |  | 27,615 |  |  | 49,267 |  |  | — |  |  | — |  |  | 283,360 |
Purchased power |  | 143,280 |  |  | 34,480 |  |  | 17,101 |  |  | — |  |  | — |  |  | 194,861 |
Other operation |  | 51,023 |  |  | 11,057 |  |  | 9,928 |  |  | — |  |  | — |  |  | 72,008 |
Maintenance |  | 19,619 |  |  | 5,680 |  |  | 6,214 |  |  | — |  |  | — |  |  | 31,513 |
Depreciation |  | 25,442 |  |  | 8,547 |  |  | 5,006 |  |  | — |  |  | — |  |  | 38,995 |
Taxes, other than income taxes |  | 51,712 |  |  | 10,448 |  |  | 10,222 |  |  | — |  |  | — |  |  | 72,382 |
Income taxes |  | 13,556 |  |  | 1,991 |  |  | 3,381 |  |  | — |  |  | — |  |  | 18,928 |
Total operating expenses |  | 511,110 |  |  | 99,818 |  |  | 101,119 |  |  | — |  |  | — |  |  | 712,047 |
Operating income |  | 36,200 |  |  | 8,106 |  |  | 7,580 |  |  | — |  |  | — |  |  | 51,886 |
Other income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for equity funds used during construction |  | 914 |  |  | 222 |  |  | 119 |  |  | — |  |  | — |  |  | 1,255 |
Equity in earnings of subsidiaries |  | 10,794 |  |  | — |  |  | — |  |  | — |  |  | (10,794 | ) |  | — |
Other, net |  | 795 |  |  | 217 |  |  | 124 |  |  | (1 | ) |  | (36 | ) |  | 1,099 |
Income tax expense |  | (77 | ) |  | (32 | ) |  | (20 | ) |  | — |  |  | — |  |  | (129 | )
Total other income (loss) |  | 12,426 |  |  | 407 |  |  | 223 |  |  | (1 | ) |  | (10,830 | ) |  | 2,225 |
Interest and other charges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest on long-term debt |  | 9,902 |  |  | 2,751 |  |  | 1,962 |  |  | — |  |  | — |  |  | 14,615 |
Amortization of net bond premium and expense |  | 410 |  |  | 116 |  |  | 120 |  |  | — |  |  | — |  |  | 646 |
Other interest charges |  | 585 |  |  | 160 |  |  | 324 |  |  | — |  |  | (36 | ) |  | 1,033 |
Allowance for borrowed funds used during construction |  | (358 | ) |  | (91 | ) |  | (49 | ) |  | — |  |  | — |  |  | (498 | )
Total interest and other charges |  | 10,539 |  |  | 2,936 |  |  | 2,357 |  |  | — |  |  | (36 | ) |  | 15,796 |
Net income (loss) |  | 38,087 |  |  | 5,577 |  |  | 5,446 |  |  | (1 | ) |  | (10,794 | ) |  | 38,315 |
Preferred stock dividend of subsidiaries |  | — |  |  | 133 |  |  | 95 |  |  | — |  |  | — |  |  | 228 |
Net income (loss) attributable to Hawaiian Electric |  | 38,087 |  |  | 5,444 |  |  | 5,351 |  |  | (1 | ) |  | (10,794 | ) |  | 38,087 |
Preferred stock dividends of Hawaiian Electric |  | 270 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 270 |
Net income (loss) for common stock |  | $ | 37,817 |  |  | 5,444 |  |  | 5,351 |  |  | (1 | ) |  | (10,794 | ) |  | $ | 37,817 |
Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Statement of Comprehensive Income (Loss) (unaudited) Three months ended September 30, 2013
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Net income (loss) for common stock |  | $ | 37,817 |  |  | 5,444 |  |  | 5,351 |  |  | (1 | ) |  | (10,794 | ) |  | $ | 37,817 |
Other comprehensive income (loss), net of taxes: |  |  |  |  |  |  |  |  |  |  |  |
Retirement benefit plans: |  |  |  |  |  |  |  |  |  |  |  |
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits |  | 5,173 |  |  | 720 |  |  | 639 |  |  | — |  |  | (1,359 | ) |  | 5,173 |
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes |  | (5,156 | ) |  | (721 | ) |  | (639 | ) |  | — |  |  | 1,360 |  |  | (5,156 | )
Other comprehensive income (loss), net of taxes |  | 17 |  |  | (1 | ) |  | — |  |  | — |  |  | 1 |  |  | 17 |
Comprehensive income (loss) attributable to common shareholder |  | $ | 37,834 |  |  | 5,443 |  |  | 5,351 |  |  | (1 | ) |  | (10,793 | ) |  | $ | 37,834 |
Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Statement of Income (Loss) (unaudited) Three months ended September 30, 2012
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Operating revenues |  | $ | 579,464 |  |  | 108,490 |  |  | 111,249 |  |  | — |  |  | — |  |  | $ | 799,203 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fuel oil |  | 248,443 |  |  | 25,752 |  |  | 52,978 |  |  | — |  |  | — |  |  | 327,173 |
Purchased power |  | 135,507 |  |  | 37,693 |  |  | 13,499 |  |  | — |  |  | — |  |  | 186,699 |
Other operation |  | 48,201 |  |  | 10,888 |  |  | 11,352 |  |  | — |  |  | — |  |  | 70,441 |
Maintenance |  | 19,615 |  |  | 5,146 |  |  | 5,607 |  |  | — |  |  | — |  |  | 30,368 |
Depreciation |  | 22,738 |  |  | 8,299 |  |  | 4,904 |  |  | — |  |  | — |  |  | 35,941 |
Taxes, other than income taxes |  | 53,935 |  |  | 10,444 |  |  | 10,471 |  |  | — |  |  | — |  |  | 74,850 |
Income taxes |  | 15,725 |  |  | 2,782 |  |  | 3,845 |  |  | — |  |  | — |  |  | 22,352 |
Total operating expenses |  | 544,164 |  |  | 101,004 |  |  | 102,656 |  |  | — |  |  | — |  |  | 747,824 |
Operating income |  | 35,300 |  |  | 7,486 |  |  | 8,593 |  |  | — |  |  | — |  |  | 51,379 |
Other income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for equity funds used during construction |  | 1,323 |  |  | 148 |  |  | 140 |  |  | — |  |  | — |  |  | 1,611 |
Equity in earnings of subsidiaries |  | 11,285 |  |  | — |  |  | — |  |  | — |  |  | (11,285 | ) |  | — |
Other, net |  | 950 |  |  | 128 |  |  | 38 |  |  | (1 | ) |  | (28 | ) |  | 1,087 |
Income tax benefits (expense) |  | (37 | ) |  | (14 | ) |  | 9 |  |  | — |  |  | — |  |  | (42 | )
Total other income (loss) |  | 13,521 |  |  | 262 |  |  | 187 |  |  | (1 | ) |  | (11,313 | ) |  | 2,656 |
Interest and other charges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest on long-term debt |  | 9,981 |  |  | 2,751 |  |  | 1,962 |  |  | — |  |  | — |  |  | 14,694 |
Amortization of net bond premium and expense |  | 629 |  |  | 117 |  |  | 124 |  |  | — |  |  | — |  |  | 870 |
Other interest charges |  | 142 |  |  | 78 |  |  | 94 |  |  | — |  |  | (28 | ) |  | 286 |
Allowance for borrowed funds used during construction |  | (576 | ) |  | (59 | ) |  | (53 | ) |  | — |  |  | — |  |  | (688 | )
Total interest and other charges |  | 10,176 |  |  | 2,887 |  |  | 2,127 |  |  | — |  |  | (28 | ) |  | 15,162 |
Net income (loss) |  | 38,645 |  |  | 4,861 |  |  | 6,653 |  |  | (1 | ) |  | (11,285 | ) |  | 38,873 |
Preferred stock dividend of subsidiaries |  | — |  |  | 133 |  |  | 95 |  |  | — |  |  | — |  |  | 228 |
Net income (loss) attributable to Hawaiian Electric |  | 38,645 |  |  | 4,728 |  |  | 6,558 |  |  | (1 | ) |  | (11,285 | ) |  | 38,645 |
Preferred stock dividends of Hawaiian Electric |  | 270 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 270 |
Net income (loss) for common stock |  | $ | 38,375 |  |  | 4,728 |  |  | 6,558 |  |  | (1 | ) |  | (11,285 | ) |  | $ | 38,375 |
Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Statement of Comprehensive Income (Loss) (unaudited) Three months ended September 30, 2012
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Net income (loss) for common stock |  | $ | 38,375 |  |  | 4,728 |  |  | 6,558 |  |  | (1 | ) |  | (11,285 | ) |  | $ | 38,375 |
Other comprehensive income, net of taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retirement benefit plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits |  | 3,419 |  |  | 526 |  |  | 443 |  |  | — |  |  | (969 | ) |  | 3,419 |
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes |  | (3,342 | ) |  | (521 | ) |  | (436 | ) |  | — |  |  | 957 |  |  | (3,342 | )
Other comprehensive income, net of taxes |  | 77 |  |  | 5 |  |  | 7 |  |  | — |  |  | (12 | ) |  | 77 |
Comprehensive income (loss) attributable to common shareholder |  | $ | 38,452 |  |  | 4,733 |  |  | 6,565 |  |  | (1 | ) |  | (11,297 | ) |  | $ | 38,452 |
Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Statement of Income (Loss) (unaudited) Nine months ended September 30, 2013
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Operating revenues |  | $ | 1,574,869 |  |  | 320,314 |  |  | 313,740 |  |  | — |  |  | — |  |  | $ | 2,208,923 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fuel oil |  | 631,824 |  |  | 94,120 |  |  | 151,794 |  |  | — |  |  | — |  |  | 877,738 |
Purchased power |  | 389,706 |  |  | 93,880 |  |  | 43,083 |  |  | — |  |  | — |  |  | 526,669 |
Other operation |  | 149,218 |  |  | 32,267 |  |  | 28,130 |  |  | — |  |  | — |  |  | 209,615 |
Maintenance |  | 60,922 |  |  | 13,787 |  |  | 13,846 |  |  | — |  |  | — |  |  | 88,555 |
Depreciation |  | 75,150 |  |  | 25,641 |  |  | 15,074 |  |  | — |  |  | — |  |  | 115,865 |
Taxes, other than income taxes |  | 149,084 |  |  | 30,094 |  |  | 29,650 |  |  | — |  |  | — |  |  | 208,828 |
Income taxes |  | 33,753 |  |  | 7,765 |  |  | 9,838 |  |  | — |  |  | — |  |  | 51,356 |
Total operating expenses |  | 1,489,657 |  |  | 297,554 |  |  | 291,415 |  |  | — |  |  | — |  |  | 2,078,626 |
Operating income |  | 85,212 |  |  | 22,760 |  |  | 22,325 |  |  | — |  |  | — |  |  | 130,297 |
Other income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for equity funds used during construction |  | 3,144 |  |  | 552 |  |  | 334 |  |  | — |  |  | — |  |  | 4,030 |
Equity in earnings of subsidiaries |  | 30,446 |  |  | — |  |  | — |  |  | — |  |  | (30,446 | ) |  | — |
Other, net |  | 3,518 |  |  | 526 |  |  | 412 |  |  | (2 | ) |  | (103 | ) |  | 4,351 |
Income tax expense |  | (266 | ) |  | (73 | ) |  | (81 | ) |  | — |  |  | — |  |  | (420 | )
Total other income (loss) |  | 36,842 |  |  | 1,005 |  |  | 665 |  |  | (2 | ) |  | (30,549 | ) |  | 7,961 |
Interest and other charges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest on long-term debt |  | 29,705 |  |  | 8,252 |  |  | 5,886 |  |  | — |  |  | — |  |  | 43,843 |
Amortization of net bond premium and expense |  | 1,231 |  |  | 350 |  |  | 359 |  |  | — |  |  | — |  |  | 1,940 |
Other interest charges |  | 637 |  |  | 245 |  |  | 887 |  |  | — |  |  | (103 | ) |  | 1,666 |
Allowance for borrowed funds used during construction |  | (1,268 | ) |  | (226 | ) |  | (132 | ) |  | — |  |  | — |  |  | (1,626 | )
Total interest and other charges |  | 30,305 |  |  | 8,621 |  |  | 7,000 |  |  | — |  |  | (103 | ) |  | 45,823 |
Net income (loss) |  | 91,749 |  |  | 15,144 |  |  | 15,990 |  |  | (2 | ) |  | (30,446 | ) |  | 92,435 |
Preferred stock dividend of subsidiaries |  | — |  |  | 400 |  |  | 286 |  |  | — |  |  | — |  |  | 686 |
Net income (loss) attributable to Hawaiian Electric |  | 91,749 |  |  | 14,744 |  |  | 15,704 |  |  | (2 | ) |  | (30,446 | ) |  | 91,749 |
Preferred stock dividends of Hawaiian Electric |  | 810 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 810 |
Net income (loss) for common stock |  | $ | 90,939 |  |  | 14,744 |  |  | 15,704 |  |  | (2 | ) |  | (30,446 | ) |  | $ | 90,939 |
Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Statement of Comprehensive Income (Loss) (unaudited) Nine months ended September 30, 2013
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Net income (loss) for common stock |  | $ | 90,939 |  |  | 14,744 |  |  | 15,704 |  |  | (2 | ) |  | (30,446 | ) |  | $ | 90,939 |
Other comprehensive income (loss), net of taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retirement benefit plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits |  | 15,520 |  |  | 2,160 |  |  | 1,918 |  |  | — |  |  | (4,078 | ) |  | 15,520 |
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes |  | (15,468 | ) |  | (2,162 | ) |  | (1,918 | ) |  | — |  |  | 4,080 |  |  | (15,468 | )
Other comprehensive income (loss), net of taxes |  | 52 |  |  | (2 | ) |  | — |  |  | — |  |  | 2 |  |  | 52 |
Comprehensive income (loss) attributable to common shareholder |  | $ | 90,991 |  |  | 14,742 |  |  | 15,704 |  |  | (2 | ) |  | (30,444 | ) |  | $ | 90,991 |
Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Statement of Income (Loss) (unaudited) Nine months ended September 30, 2012
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Operating revenues |  | $ | 1,677,604 |  |  | 332,558 |  |  | 324,664 |  |  | — |  |  | — |  |  | $ | 2,334,826 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fuel oil |  | 724,862 |  |  | 88,778 |  |  | 172,436 |  |  | — |  |  | — |  |  | 986,076 |
Purchased power |  | 401,423 |  |  | 108,996 |  |  | 29,421 |  |  | — |  |  | — |  |  | 539,840 |
Other operation |  | 132,770 |  |  | 29,851 |  |  | 34,185 |  |  | — |  |  | — |  |  | 196,806 |
Maintenance |  | 60,993 |  |  | 14,280 |  |  | 16,368 |  |  | — |  |  | — |  |  | 91,641 |
Depreciation |  | 68,046 |  |  | 25,036 |  |  | 15,474 |  |  | — |  |  | — |  |  | 108,556 |
Taxes, other than income taxes |  | 159,928 |  |  | 31,330 |  |  | 30,891 |  |  | — |  |  | — |  |  | 222,149 |
Income taxes |  | 41,049 |  |  | 9,836 |  |  | 7,406 |  |  | — |  |  | — |  |  | 58,291 |
Total operating expenses |  | 1,589,071 |  |  | 308,107 |  |  | 306,181 |  |  | — |  |  | — |  |  | 2,203,359 |
Operating income |  | 88,533 |  |  | 24,451 |  |  | 18,483 |  |  | — |  |  | — |  |  | 131,467 |
Other income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for equity funds used during construction |  | 4,558 |  |  | 433 |  |  | 557 |  |  | — |  |  | — |  |  | 5,548 |
Equity in earnings of subsidiaries |  | 28,025 |  |  | — |  |  | — |  |  | — |  |  | (28,025 | ) |  | — |
Other, net |  | 3,215 |  |  | 361 |  |  | 293 |  |  | (3 | ) |  | (56 | ) |  | 3,810 |
Income tax benefits (expense) |  | (101 | ) |  | (47 | ) |  | 11 |  |  | — |  |  | — |  |  | (137 | )
Total other income (loss) |  | 35,697 |  |  | 747 |  |  | 861 |  |  | (3 | ) |  | (28,081 | ) |  | 9,221 |
Interest and other charges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest on long-term debt |  | 29,301 |  |  | 8,649 |  |  | 6,450 |  |  | — |  |  | — |  |  | 44,400 |
Amortization of net bond premium and expense |  | 1,541 |  |  | 362 |  |  | 373 |  |  | — |  |  | — |  |  | 2,276 |
Other interest charges |  | (412 | ) |  | 131 |  |  | 253 |  |  | — |  |  | (56 | ) |  | (84 | )
Allowance for borrowed funds used during construction |  | (2,061 | ) |  | (174 | ) |  | (216 | ) |  | — |  |  | — |  |  | (2,451 | )
Total interest and other charges |  | 28,369 |  |  | 8,968 |  |  | 6,860 |  |  | — |  |  | (56 | ) |  | 44,141 |
Net income (loss) |  | 95,861 |  |  | 16,230 |  |  | 12,484 |  |  | (3 | ) |  | (28,025 | ) |  | 96,547 |
Preferred stock dividend of subsidiaries |  | — |  |  | 400 |  |  | 286 |  |  | — |  |  | — |  |  | 686 |
Net income (loss) attributable to Hawaiian Electric |  | 95,861 |  |  | 15,830 |  |  | 12,198 |  |  | (3 | ) |  | (28,025 | ) |  | 95,861 |
Preferred stock dividends of Hawaiian Electric |  | 810 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 810 |
Net income (loss) for common stock |  | $ | 95,051 |  |  | 15,830 |  |  | 12,198 |  |  | (3 | ) |  | (28,025 | ) |  | $ | 95,051 |
Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Statement of Comprehensive Income (Loss) (unaudited) Nine months ended September 30, 2012
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Net income (loss) for common stock |  | $ | 95,051 |  |  | 15,830 |  |  | 12,198 |  |  | (3 | ) |  | (28,025 | ) |  | $ | 95,051 |
Other comprehensive income, net of taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retirement benefit plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits |  | 10,255 |  |  | 1,576 |  |  | 1,328 |  |  | — |  |  | (2,904 | ) |  | 10,255 |
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes |  | (10,026 | ) |  | (1,558 | ) |  | (1,309 | ) |  | — |  |  | 2,867 |  |  | (10,026 | )
Other comprehensive income, net of taxes |  | 229 |  |  | 18 |  |  | 19 |  |  | — |  |  | (37 | ) |  | 229 |
Comprehensive income (loss) attributable to common shareholder |  | $ | 95,280 |  |  | 15,848 |  |  | 12,217 |  |  | (3 | ) |  | (28,062 | ) |  | $ | 95,280 |
Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Balance Sheet (unaudited) September 30, 2013
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Utility plant, at cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land |  | $ | 43,392 |  |  | 5,426 |  |  | 3,016 |  |  | — |  |  | — |  |  | $ | 51,834 |
Plant and equipment |  | 3,488,617 |  |  | 1,116,702 |  |  | 988,482 |  |  | — |  |  | — |  |  | 5,593,801 |
Less accumulated depreciation |  | (1,211,045 | ) |  | (449,547 | ) |  | (432,983 | ) |  | — |  |  | — |  |  | (2,093,575 | )
Construction in progress |  | 122,399 |  |  | 14,120 |  |  | 14,558 |  |  | — |  |  | — |  |  | 151,077 |
Net utility plant |  | 2,443,363 |  |  | 686,701 |  |  | 573,073 |  |  | — |  |  | — |  |  | 3,703,137 |
Investment in wholly owned subsidiaries, at equity |  | 507,080 |  |  | — |  |  | — |  |  | — |  |  | (507,080 | ) |  | — |
Current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 18,906 |  |  | 2,754 |  |  | 3,423 |  |  | 102 |  |  | — |  |  | 25,185 |
Advances to affiliates |  | 23,000 |  |  | 7,000 |  |  | — |  |  | — |  |  | (30,000 | ) |  | — |
Customer accounts receivable, net |  | 134,641 |  |  | 29,569 |  |  | 23,494 |  |  | — |  |  | — |  |  | 187,704 |
Accrued unbilled revenues, net |  | 104,981 |  |  | 16,120 |  |  | 18,800 |  |  | — |  |  | — |  |  | 139,901 |
Other accounts receivable, net |  | 15,094 |  |  | 3,877 |  |  | 2,214 |  |  | — |  |  | (12,011 | ) |  | 9,174 |
Fuel oil stock, at average cost |  | 105,231 |  |  | 14,615 |  |  | 17,241 |  |  | — |  |  | — |  |  | 137,087 |
Materials and supplies, at average cost |  | 37,171 |  |  | 7,042 |  |  | 15,221 |  |  | — |  |  | — |  |  | 59,434 |
Prepayments and other |  | 26,024 |  |  | 4,413 |  |  | 14,939 |  |  | — |  |  | — |  |  | 45,376 |
Regulatory assets |  | 36,006 |  |  | 4,636 |  |  | 5,081 |  |  | — |  |  | — |  |  | 45,723 |
Total current assets |  | 501,054 |  |  | 90,026 |  |  | 100,413 |  |  | 102 |  |  | (42,011 | ) |  | 649,584 |
Other long-term assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulatory assets |  | 626,209 |  |  | 112,244 |  |  | 106,243 |  |  | — |  |  | — |  |  | 844,696 |
Unamortized debt expense |  | 6,491 |  |  | 1,882 |  |  | 1,301 |  |  | — |  |  | — |  |  | 9,674 |
Other |  | 40,343 |  |  | 8,405 |  |  | 13,919 |  |  | — |  |  | — |  |  | 62,667 |
Total other long-term assets |  | 673,043 |  |  | 122,531 |  |  | 121,463 |  |  | — |  |  | — |  |  | 917,037 |
Total assets |  | $ | 4,124,540 |  |  | 899,258 |  |  | 794,949 |  |  | 102 |  |  | (549,091 | ) |  | $ | 5,269,758 |
Capitalization and liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capitalization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock equity |  | $ | 1,501,944 |  |  | 272,860 |  |  | 234,118 |  |  | 102 |  |  | (507,080 | ) |  | $ | 1,501,944 |
Cumulative preferred stock—not subject to mandatory redemption |  | 22,293 |  |  | 7,000 |  |  | 5,000 |  |  | — |  |  | — |  |  | 34,293 |
Long-term debt, net |  | 780,546 |  |  | 201,334 |  |  | 166,000 |  |  | — |  |  | — |  |  | 1,147,880 |
Total capitalization |  | 2,304,783 |  |  | 481,194 |  |  | 405,118 |  |  | 102 |  |  | (507,080 | ) |  | 2,684,117 |
Commitments and contingencies (Note 5) |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term borrowings from non-affiliates |  | 73,246 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 73,246 |
Short-term borrowings from affiliate |  | 7,000 |  |  | — |  |  | 23,000 |  |  | — |  |  | (30,000 | ) |  | — |
Accounts payable |  | 136,087 |  |  | 25,352 |  |  | 19,518 |  |  | — |  |  | — |  |  | 180,957 |
Interest and preferred dividends payable |  | 15,097 |  |  | 3,949 |  |  | 3,363 |  |  | — |  |  | (12 | ) |  | 22,397 |
Taxes accrued |  | 163,204 |  |  | 35,403 |  |  | 34,846 |  |  | — |  |  | — |  |  | 233,453 |
Other |  | 54,571 |  |  | 11,298 |  |  | 24,664 |  |  | — |  |  | (11,999 | ) |  | 78,534 |
Total current liabilities |  | 449,205 |  |  | 76,002 |  |  | 105,391 |  |  | — |  |  | (42,011 | ) |  | 588,587 |
Deferred credits and other liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred income taxes |  | 340,014 |  |  | 75,866 |  |  | 62,721 |  |  | — |  |  | — |  |  | 478,601 |
Regulatory liabilities |  | 224,568 |  |  | 71,230 |  |  | 33,333 |  |  | — |  |  | — |  |  | 329,131 |
Unamortized tax credits |  | 43,564 |  |  | 13,552 |  |  | 13,922 |  |  | — |  |  | — |  |  | 71,038 |
Defined benefit pension and other postretirement benefit plans liability |  | 442,613 |  |  | 77,004 |  |  | 76,623 |  |  |  |  |  | — |  |  | 596,240 |
Other |  | 67,157 |  |  | 15,386 |  |  | 13,585 |  |  | — |  |  | — |  |  | 96,128 |
Total deferred credits and other liabilities |  | 1,117,916 |  |  | 253,038 |  |  | 200,184 |  |  | — |  |  | — |  |  | 1,571,138 |
Contributions in aid of construction |  | 252,636 |  |  | 89,024 |  |  | 84,256 |  |  | — |  |  | — |  |  | 425,916 |
Total capitalization and liabilities |  | $ | 4,124,540 |  |  | 899,258 |  |  | 794,949 |  |  | 102 |  |  | (549,091 | ) |  | $ | 5,269,758 |
Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Balance Sheet (unaudited) December 31, 2012
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Utility plant, at cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land |  | $ | 43,370 |  |  | 5,182 |  |  | 3,016 |  |  | — |  |  | — |  |  | $ | 51,568 |
Plant and equipment |  | 3,325,862 |  |  | 1,086,048 |  |  | 952,490 |  |  | — |  |  | — |  |  | 5,364,400 |
Less accumulated depreciation |  | (1,185,899 | ) |  | (433,531 | ) |  | (421,359 | ) |  | — |  |  | — |  |  | (2,040,789 | )
Construction in progress |  | 130,143 |  |  | 12,126 |  |  | 9,109 |  |  | — |  |  | — |  |  | 151,378 |
Net utility plant |  | 2,313,476 |  |  | 669,825 |  |  | 543,256 |  |  | — |  |  | — |  |  | 3,526,557 |
Investment in wholly owned subsidiaries, at equity |  | 497,939 |  |  | — |  |  | — |  |  | — |  |  | (497,939 | ) |  | — |
Current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 8,265 |  |  | 5,441 |  |  | 3,349 |  |  | 104 |  |  | — |  |  | 17,159 |
Advances to affiliates |  | 9,400 |  |  | 18,050 |  |  | — |  |  | — |  |  | (27,450 | ) |  | — |
Customer accounts receivable, net |  | 154,316 |  |  | 29,772 |  |  | 26,691 |  |  | — |  |  | — |  |  | 210,779 |
Accrued unbilled revenues, net |  | 100,600 |  |  | 14,393 |  |  | 19,305 |  |  | — |  |  | — |  |  | 134,298 |
Other accounts receivable, net |  | 33,313 |  |  | 1,122 |  |  | 3,016 |  |  | — |  |  | (9,275 | ) |  | 28,176 |
Fuel oil stock, at average cost |  | 123,176 |  |  | 15,485 |  |  | 22,758 |  |  | — |  |  | — |  |  | 161,419 |
Materials and supplies, at average cost |  | 31,779 |  |  | 5,336 |  |  | 13,970 |  |  | — |  |  | — |  |  | 51,085 |
Prepayments and other |  | 21,708 |  |  | 5,146 |  |  | 6,011 |  |  | — |  |  | — |  |  | 32,865 |
Regulatory assets |  | 42,675 |  |  | 4,056 |  |  | 4,536 |  |  | — |  |  | — |  |  | 51,267 |
Total current assets |  | 525,232 |  |  | 98,801 |  |  | 99,636 |  |  | 104 |  |  | (36,725 | ) |  | 687,048 |
Other long-term assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulatory assets |  | 601,451 |  |  | 109,815 |  |  | 102,063 |  |  | — |  |  | — |  |  | 813,329 |
Unamortized debt expense |  | 7,042 |  |  | 2,066 |  |  | 1,446 |  |  | — |  |  | — |  |  | 10,554 |
Other |  | 46,586 |  |  | 9,871 |  |  | 14,848 |  |  | — |  |  | — |  |  | 71,305 |
Total other long-term assets |  | 655,079 |  |  | 121,752 |  |  | 118,357 |  |  | — |  |  | — |  |  | 895,188 |
Total assets |  | $ | 3,991,726 |  |  | 890,378 |  |  | 761,249 |  |  | 104 |  |  | (534,664 | ) |  | $ | 5,108,793 |
Capitalization and liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capitalization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock equity |  | $ | 1,472,136 |  |  | 268,908 |  |  | 228,927 |  |  | 104 |  |  | (497,939 | ) |  | $ | 1,472,136 |
Cumulative preferred stock—not subject to mandatory redemption |  | 22,293 |  |  | 7,000 |  |  | 5,000 |  |  | — |  |  | — |  |  | 34,293 |
Long-term debt, net |  | 780,546 |  |  | 201,326 |  |  | 166,000 |  |  | — |  |  | — |  |  | 1,147,872 |
Total capitalization |  | 2,274,975 |  |  | 477,234 |  |  | 399,927 |  |  | 104 |  |  | (497,939 | ) |  | 2,654,301 |
Commitments and contingencies (Note 5) |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current portion of long-term debt |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Short-term borrowings from affiliate |  | 18,050 |  |  | — |  |  | 9,400 |  |  | — |  |  | (27,450 | ) |  | — |
Accounts payable |  | 134,651 |  |  | 27,457 |  |  | 24,716 |  |  | — |  |  | — |  |  | 186,824 |
Interest and preferred dividends payable |  | 14,479 |  |  | 4,027 |  |  | 2,593 |  |  | — |  |  | (7 | ) |  | 21,092 |
Taxes accrued |  | 174,477 |  |  | 38,778 |  |  | 37,811 |  |  | — |  |  | — |  |  | 251,066 |
Other |  | 47,203 |  |  | 10,310 |  |  | 14,634 |  |  | — |  |  | (9,268 | ) |  | 62,879 |
Total current liabilities |  | 388,860 |  |  | 80,572 |  |  | 89,154 |  |  | — |  |  | (36,725 | ) |  | 521,861 |
Deferred credits and other liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred income taxes |  | 302,569 |  |  | 68,479 |  |  | 46,563 |  |  | — |  |  | — |  |  | 417,611 |
Regulatory liabilities |  | 218,437 |  |  | 67,359 |  |  | 36,278 |  |  | — |  |  | — |  |  | 322,074 |
Unamortized tax credits |  | 39,827 |  |  | 13,450 |  |  | 13,307 |  |  | — |  |  | — |  |  | 66,584 |
Defined benefit pension and other postretirement benefit plans liability |  | 459,765 |  |  | 80,686 |  |  | 79,754 |  |  | — |  |  | — |  |  | 620,205 |
Other |  | 68,783 |  |  | 17,799 |  |  | 14,055 |  |  | — |  |  | — |  |  | 100,637 |
Total deferred credits and other liabilities |  | 1,089,381 |  |  | 247,773 |  |  | 189,957 |  |  | — |  |  | — |  |  | 1,527,111 |
Contributions in aid of construction |  | 238,510 |  |  | 84,799 |  |  | 82,211 |  |  | — |  |  | — |  |  | 405,520 |
Total capitalization and liabilities |  | $ | 3,991,726 |  |  | 890,378 |  |  | 761,249 |  |  | 104 |  |  | (534,664 | ) |  | $ | 5,108,793 |
Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Statement of Changes in Common Stock Equity (unaudited) Nine months ended September 30, 2013
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Balance, December 31, 2012 |  | $ | 1,472,136 |  |  | 268,908 |  |  | 228,927 |  |  | 104 |  |  | (497,939 | ) |  | $ | 1,472,136 |
Net income (loss) for common stock |  | 90,939 |  |  | 14,744 |  |  | 15,704 |  |  | (2 | ) |  | (30,446 | ) |  | 90,939 |
Other comprehensive income (loss), net of taxes |  | 52 |  |  | (2 | ) |  | — |  |  | — |  |  | 2 |  |  | 52 |
Common stock dividends |  | (61,183 | ) |  | (10,790 | ) |  | (10,513 | ) |  | — |  |  | 21,303 |  |  | (61,183 | )
Balance, September 30, 2013 |  | $ | 1,501,944 |  |  | 272,860 |  |  | 234,118 |  |  | 102 |  |  | (507,080 | ) |  | $ | 1,501,944 |
Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Statement of Changes in Common Stock Equity (unaudited) Nine months ended September 30, 2012
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Balance, December 31, 2011 |  | $ | 1,402,841 |  |  | 280,468 |  |  | 235,568 |  |  | 107 |  |  | (516,143 | ) |  | $ | 1,402,841 |
Net income (loss) for common stock |  | 95,051 |  |  | 15,830 |  |  | 12,198 |  |  | (3 | ) |  | (28,025 | ) |  | 95,051 |
Other comprehensive income, net of taxes |  | 229 |  |  | 18 |  |  | 19 |  |  | — |  |  | (37 | ) |  | 229 |
Common stock dividends |  | (54,783 | ) |  | (9,854 | ) |  | (6,560 | ) |  | — |  |  | 16,414 |  |  | (54,783 | )
Balance, September 30, 2012 |  | $ | 1,443,338 |  |  | 286,462 |  |  | 241,225 |  |  | 104 |  |  | (527,791 | ) |  | $ | 1,443,338 |
Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Statement of Cash Flows (unaudited) Nine months ended September 30, 2013
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 91,749 |  |  | 15,144 |  |  | 15,990 |  |  | (2 | ) |  | (30,446 | ) |  | $ | 92,435 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries |  | (30,522 | ) |  | — |  |  | — |  |  | — |  |  | 30,446 |  |  | (76 | )
Common stock dividends received from subsidiaries |  | 21,379 |  |  | — |  |  | — |  |  | — |  |  | (21,303 | ) |  | 76 |
Depreciation of property, plant and equipment |  | 75,150 |  |  | 25,641 |  |  | 15,074 |  |  | — |  |  | — |  |  | 115,865 |
Other amortization |  | (228 | ) |  | 1,075 |  |  | 1,623 |  |  | — |  |  | — |  |  | 2,470 |
Change in deferred income taxes |  | 31,361 |  |  | 7,165 |  |  | 9,488 |  |  | — |  |  | — |  |  | 48,014 |
Change in tax credits, net |  | 3,773 |  |  | 119 |  |  | 618 |  |  | — |  |  | — |  |  | 4,510 |
Allowance for equity funds used during construction |  | (3,144 | ) |  | (552 | ) |  | (334 | ) |  | — |  |  | — |  |  | (4,030 | )
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Decrease (increase) in accounts receivable |  | 37,894 |  |  | (2,552 | ) |  | 3,999 |  |  | — |  |  | 2,736 |  |  | 42,077 |
Decrease (increase) in accrued unbilled revenues |  | (4,381 | ) |  | (1,727 | ) |  | 505 |  |  | — |  |  | — |  |  | (5,603 | )
Decrease in fuel oil stock |  | 17,945 |  |  | 870 |  |  | 5,517 |  |  | — |  |  | — |  |  | 24,332 |
Increase in materials and supplies |  | (5,392 | ) |  | (1,706 | ) |  | (1,251 | ) |  | — |  |  | — |  |  | (8,349 | )
Increase in regulatory assets |  | (37,032 | ) |  | (7,165 | ) |  | (9,117 | ) |  | — |  |  | — |  |  | (53,314 | )
Decrease in accounts payable |  | (10,435 | ) |  | (3,343 | ) |  | (9,196 | ) |  | — |  |  | — |  |  | (22,974 | )
Decrease in prepaid and accrued income and utility revenue taxes |  | (7,122 | ) |  | (3,566 | ) |  | (4,728 | ) |  | — |  |  | — |  |  | (15,416 | )
Contributions to defined benefit pension and other postretirement benefit plans |  | (44,650 | ) |  | (8,083 | ) |  | (8,143 | ) |  | — |  |  | — |  |  | (60,876 | )
Other increase in defined benefit pension and other postretirement benefit plans liability |  | 46,394 |  |  | 7,892 |  |  | 8,078 |  |  | — |  |  | — |  |  | 62,364 |
Change in other assets and liabilities |  | (10,562 | ) |  | (1,821 | ) |  | 4,924 |  |  | — |  |  | (2,736 | ) |  | (10,195 | )
Net cash provided by (used in) operating activities |  | 172,177 |  |  | 27,391 |  |  | 33,047 |  |  | (2 | ) |  | (21,303 | ) |  | 211,310 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | (164,423 | ) |  | (35,900 | ) |  | (37,546 | ) |  | — |  |  | — |  |  | (237,869 | )
Contributions in aid of construction |  | 15,699 |  |  | 6,160 |  |  | 1,774 |  |  | — |  |  | — |  |  | 23,633 |
Other |  | 623 |  |  | (196 | ) |  | — |  |  | — |  |  | — |  |  | 427 |
Advances from (to) affiliates |  | (13,600 | ) |  | 11,050 |  |  | — |  |  | — |  |  | 2,550 |  |  | — |
Net cash used in investing activities |  | (161,701 | ) |  | (18,886 | ) |  | (35,772 | ) |  | — |  |  | 2,550 |  |  | (213,809 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock dividends |  | (61,183 | ) |  | (10,790 | ) |  | (10,513 | ) |  | — |  |  | 21,303 |  |  | (61,183 | )
Preferred stock dividends of Hawaiian Electric and subsidiaries |  | (810 | ) |  | (400 | ) |  | (286 | ) |  | — |  |  | — |  |  | (1,496 | )
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less |  | 62,196 |  |  | — |  |  | 13,600 |  |  | — |  |  | (2,550 | ) |  | 73,246 |
Other |  | (38 | ) |  | (2 | ) |  | (2 | ) |  | — |  |  | — |  |  | (42 | )
Net cash provided by (used in) financing activities |  | 165 |  |  | (11,192 | ) |  | 2,799 |  |  | — |  |  | 18,753 |  |  | 10,525 |
Net increase (decrease) in cash and cash equivalents |  | 10,641 |  |  | (2,687 | ) |  | 74 |  |  | (2 | ) |  | — |  |  | 8,026 |
Cash and cash equivalents, beginning of period |  | 8,265 |  |  | 5,441 |  |  | 3,349 |  |  | 104 |  |  | — |  |  | 17,159 |
Cash and cash equivalents, end of period |  | $ | 18,906 |  |  | 2,754 |  |  | 3,423 |  |  | 102 |  |  | — |  |  | $ | 25,185 |
Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Statement of Cash Flows (unaudited) Nine months ended September 30, 2012
(in thousands) |  | Hawaiian Electric |  | Hawaii Electric Light |  | Maui Electric |  | Other subsidiaries |  | Consolidating adjustments |  | Hawaiian Electric Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 95,861 |  |  | 16,230 |  |  | 12,484 |  |  | (3 | ) |  | (28,025 | ) |  | $ | 96,547 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries |  | (28,100 | ) |  | — |  |  | — |  |  | — |  |  | 28,025 |  |  | (75 | )
Common stock dividends received from subsidiaries |  | 16,464 |  |  | — |  |  | — |  |  | — |  |  | (16,414 | ) |  | 50 |
Depreciation of property, plant and equipment |  | 68,046 |  |  | 25,036 |  |  | 15,474 |  |  | — |  |  | — |  |  | 108,556 |
Other amortization |  | 691 |  |  | 1,776 |  |  | 1,607 |  |  | — |  |  | — |  |  | 4,074 |
Change in deferred income taxes |  | 64,790 |  |  | 8,290 |  |  | 9,637 |  |  | — |  |  | — |  |  | 82,717 |
Change in tax credits, net |  | 3,256 |  |  | 256 |  |  | 130 |  |  | — |  |  | — |  |  | 3,642 |
Allowance for equity funds used during construction |  | (4,558 | ) |  | (433 | ) |  | (557 | ) |  | — |  |  | — |  |  | (5,548 | )
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Decrease (increase) in accounts receivable |  | (43,284 | ) |  | (7,236 | ) |  | 1,287 |  |  | — |  |  | 12,326 |  |  | (36,907 | )
Decrease (increase) in accrued unbilled revenues |  | 3,427 |  |  | 3,107 |  |  | (798 | ) |  | — |  |  | — |  |  | 5,736 |
Decrease (increase) in fuel oil stock |  | (36,365 | ) |  | 3,163 |  |  | 1,830 |  |  | — |  |  | — |  |  | (31,372 | )
Increase in materials and supplies |  | (6,320 | ) |  | (719 | ) |  | (266 | ) |  | — |  |  | — |  |  | (7,305 | )
Increase in regulatory assets |  | (44,175 | ) |  | (6,621 | ) |  | (6,997 | ) |  | — |  |  | — |  |  | (57,793 | )
Increase (decrease) in accounts payable |  | 7,872 |  |  | (8,518 | ) |  | (2,835 | ) |  | — |  |  | — |  |  | (3,481 | )
Decrease in prepaid and accrued income and utility revenue taxes |  | (14,006 | ) |  | (3,562 | ) |  | (3,097 | ) |  | — |  |  | — |  |  | (20,665 | )
Contributions to defined benefit pension and other postretirement benefit plans |  | (45,878 | ) |  | (8,270 | ) |  | (8,269 | ) |  | — |  |  | — |  |  | (62,417 | )
Other increase in defined benefit pension and other postretirement benefit plans liability |  | 34,421 |  |  | 6,133 |  |  | 9,307 |  |  |  |  |  | — |  |  | 49,861 |
Change in other assets and liabilities |  | (28,970 | ) |  | (1,120 | ) |  | (3,192 | ) |  | — |  |  | (12,326 | ) |  | (45,608 | )
Net cash provided by (used in) operating activities |  | 43,172 |  |  | 27,512 |  |  | 25,745 |  |  | (3 | ) |  | (16,414 | ) |  | 80,012 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | (172,872 | ) |  | (26,331 | ) |  | (21,767 | ) |  | — |  |  | — |  |  | (220,970 | )
Contributions in aid of construction |  | 25,547 |  |  | 4,199 |  |  | 3,360 |  |  | — |  |  | — |  |  | 33,106 |
Advances from (to) affiliates |  | — |  |  | 16,750 |  |  | 11,500 |  |  | — |  |  | (28,250 | ) |  | — |
Net cash used in investing activities |  | (147,325 | ) |  | (5,382 | ) |  | (6,907 | ) |  | — |  |  | (28,250 | ) |  | (187,864 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock dividends |  | (54,783 | ) |  | (9,854 | ) |  | (6,560 | ) |  | — |  |  | 16,414 |  |  | (54,783 | )
Preferred stock dividends of Hawaiian Electric and subsidiaries |  | (810 | ) |  | (400 | ) |  | (286 | ) |  | — |  |  | — |  |  | (1,496 | )
Proceeds from issuance of long-term debt |  | 367,000 |  |  | 31,000 |  |  | 59,000 |  |  | — |  |  | — |  |  | 457,000 |
Repayment of long-term debt |  | (259,580 | ) |  | (41,200 | ) |  | (67,720 | ) |  | — |  |  | — |  |  | (368,500 | )
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less |  | 16,469 |  |  | — |  |  | — |  |  | — |  |  | 28,250 |  |  | 44,719 |
Other |  | (1,980 | ) |  | 167 |  |  | (359 | ) |  | — |  |  | — |  |  | (2,172 | )
Net cash provided by (used in) financing activities |  | 66,316 |  |  | (20,287 | ) |  | (15,925 | ) |  | — |  |  | 44,664 |  |  | 74,768 |
Net increase (decrease) in cash and cash equivalents |  | (37,837 | ) |  | 1,843 |  |  | 2,913 |  |  | (3 | ) |  | — |  |  | (33,084 | )
Cash and cash equivalents, beginning of period |  | 44,819 |  |  | 3,383 |  |  | 496 |  |  | 108 |  |  | — |  |  | 48,806 |
Cash and cash equivalents, end of period |  | $ | 6,982 |  |  | 5,226 |  |  | 3,409 |  |  | 105 |  |  | — |  |  | $ | 15,722 |

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- Definition Text block that encapsulates the detailed table comprising the consolidating financial statements (balance sheet, income statement and statement of cash flows). + References No definition available. + Details
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Namespace Prefix: | he_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration