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Retirement benefits (Tables) - HECO | 9 Months Ended
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Sep. 30, 2013
Retirement benefits |
Schedule of components of net periodic benefit cost for consolidated HECO | The components of net periodic benefit cost for consolidated HEI were as follows:
|  | Three months ended September 30 |  | Nine months ended September 30
|  | Pension benefits |  | Other benefits |  | Pension benefits |  | Other benefits
(in thousands) |  | 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012
Service cost |  | $ | 14,097 |  |  | $ | 10,816 |  |  | $ | 1,077 |  |  | $ | 1,054 |  |  | $ | 42,307 |  |  | $ | 32,404 |  |  | $ | 3,229 |  |  | $ | 3,158 |
Interest cost |  | 16,187 |  |  | 16,868 |  |  | 1,891 |  |  | 2,252 |  |  | 48,600 |  |  | 50,612 |  |  | 5,677 |  |  | 6,756 |
Expected return on plan assets |  | (18,134 | ) |  | (17,796 | ) |  | (2,531 | ) |  | (2,579 | ) |  | (54,401 | ) |  | (53,388 | ) |  | (7,614 | ) |  | (7,757 | )
Amortization of net transition obligation |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |
Amortization of net prior service gain |  | (24 | ) |  | (81 | ) |  | (448 | ) |  | (448 | ) |  | (73 | ) |  | (244 | ) |  | (1,345 | ) |  | (1,345 | )
Amortization of net actuarial loss |  | 9,560 |  |  | 6,425 |  |  | 398 |  |  | 373 |  |  | 28,878 |  |  | 19,251 |  |  | 1,203 |  |  | 1,125 |
Net periodic benefit cost |  | 21,686 |  |  | 16,233 |  |  | 387 |  |  | 652 |  |  | 65,311 |  |  | 48,636 |  |  | 1,150 |  |  | 1,937 |
Impact of PUC D&Os |  | (9,257 | ) |  | (3,460 | ) |  | (332 | ) |  | (552 | ) |  | (28,847 | ) |  | (12,294 | ) |  | (1,018 | ) |  | (1,648 | )
Net periodic benefit cost (adjusted for impact of PUC D&Os) |  | $ | 12,429 |  |  | $ | 12,773 |  |  | $ | 55 |  |  | $ | 100 |  |  | $ | 36,464 |  |  | $ | 36,342 |  |  | $ | 132 |  |  | $ | 289 |
Schedule of reclassifications out of accumulated other comprehensive income/(loss) | Accumulated other comprehensive income. Reclassifications out of accumulated other comprehensive income/(loss) (AOCI) were as follows:
|  | Amount reclassified from AOCI |  |
|  | Three months ended September 30 |  | Nine months ended September 30 |  |
(in thousands) |  | 2013 |  | 2012 |  | 2013 |  | 2012 |  | Affected line item in the Statement of Income
Net realized gains on securities |  | $ | — |  |  | $ | — |  |  | $ | (738 | ) |  | $ | (81 | ) |  | Revenues-bank (net gains on sales of securities)
Derivatives qualified as cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts (settled in 2011) |  | 59 |  |  | 59 |  |  | 177 |  |  | 177 |  |  | Interest expense
Retirement benefit plan items |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost |  | 5,789 |  |  | 3,826 |  |  | 17,490 |  |  | 11,467 |  |  | See Note 5 for additional details
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets |  | (5,156 | ) |  | (3,342 | ) |  | (15,468 | ) |  | (10,026 | ) |  | See Note 5 for additional details
Total reclassifications |  | $ | 692 |  |  | $ | 543 |  |  | $ | 1,461 |  |  | $ | 1,537 |  |  |
Hawaiian Electric Company, Inc. and Subsidiaries |
Retirement benefits |
Schedule of components of net periodic benefit cost for consolidated HECO | The components of net periodic benefit cost for the Utilities were as follows:
|  | Three months ended September 30 |  | Nine months ended September 30
|  | Pension benefits |  | Other benefits |  | Pension benefits |  | Other benefits
(in thousands) |  | 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012
Service cost |  | $ | 13,620 |  |  | $ | 10,400 |  |  | $ | 1,041 |  |  | $ | 1,003 |  |  | $ | 40,861 |  |  | $ | 31,202 |  |  | $ | 3,122 |  |  | $ | 3,010 |
Interest cost |  | 14,780 |  |  | 15,364 |  |  | 1,822 |  |  | 2,175 |  |  | 44,339 |  |  | 46,090 |  |  | 5,466 |  |  | 6,527 |
Expected return on plan assets |  | (16,138 | ) |  | (16,001 | ) |  | (2,502 | ) |  | (2,548 | ) |  | (48,413 | ) |  | (48,003 | ) |  | (7,502 | ) |  | (7,646 | )
Amortization of net transition obligation |  | — |  |  | — |  |  | — |  |  | (2 | ) |  | — |  |  | — |  |  | — |  |  | (6 | )
Amortization of net prior service gain |  | (116 | ) |  | (173 | ) |  | (451 | ) |  | (450 | ) |  | (348 | ) |  | (517 | ) |  | (1,353 | ) |  | (1,352 | )
Amortization of net actuarial loss |  | 8,649 |  |  | 5,857 |  |  | 387 |  |  | 363 |  |  | 25,948 |  |  | 17,571 |  |  | 1,159 |  |  | 1,091 |
Net periodic benefit cost |  | 20,795 |  |  | 15,447 |  |  | 297 |  |  | 541 |  |  | 62,387 |  |  | 46,343 |  |  | 892 |  |  | 1,624 |
Impact of PUC D&Os |  | (9,257 | ) |  | (3,460 | ) |  | (332 | ) |  | (552 | ) |  | (28,847 | ) |  | (12,294 | ) |  | (1,018 | ) |  | (1,648 | )
Net periodic benefit cost (adjusted for impact of PUC D&Os) |  | $ | 11,538 |  |  | $ | 11,987 |  |  | $ | (35 | ) |  | $ | (11 | ) |  | $ | 33,540 |  |  | $ | 34,049 |  |  | $ | (126 | ) |  | $ | (24 | )
Schedule of reclassifications out of accumulated other comprehensive income/(loss) | Accumulated other comprehensive income. Reclassifications out of AOCI were as follows:
|  | Amount reclassified from AOCI |  |
|  | Three months ended September 30 |  | Nine months ended September 30 |  |
(in thousands) |  | 2013 |  | 2012 |  | 2013 |  | 2012 |  |
Retirement benefit plan items |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost |  | $ | 5,173 |  |  | $ | 3,419 |  |  | $ | 15,520 |  |  | $ | 10,255 |  |  | See above
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets |  | (5,156 | ) |  | (3,342 | ) |  | (15,468 | ) |  | (10,026 | ) |  | See above
Total reclassifications |  | $ | 17 |  |  | $ | 77 |  |  | $ | 52 |  |  | $ | 229 |  |  |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
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