XML 81 R44.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Share-based compensation (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of share-based compensation expense and related income tax benefit | The Company’s share-based compensation expense and related income tax benefit were as follows:
|  | Three months ended September 30 |  | Nine months ended September 30
(in millions) |  | 2013 |  | 2012 |  | 2013 |  | 2012
Share-based compensation expense (1) |  | $ | 2.5 |  |  | $ | 1.4 |  |  | $ | 6.0 |  |  | $ | 5.4 |
Income tax benefit |  | 0.9 |  |  | 0.5 |  |  | 2.2 |  |  | 1.9 |
___________________________________________
(1) | The Company has not capitalized any share-based compensation cost.
Schedule of nonqualified stock options activity and statistics | NQSO activity and statistics were as follows:
|  | Three months ended September 30 |  | Nine months ended September 30
(dollars in thousands, except prices) |  | 2013 |  | 2012 |  | 2013 |  | 2012
Shares exercised |  | — |  |  | 8,000 |  |  | 14,000 |  |  | 41,500 |
Weighted-average exercise price |  | $ | — |  |  | $ | 20.49 |  |  | $ | 20.49 |  |  | $ | 21.06 |
Cash received from exercise |  | $ | — |  |  | $ | 164 |  |  | $ | 287 |  |  | $ | 874 |
Intrinsic value of shares exercised (1) |  | $ | — |  |  | $ | 89 |  |  | $ | 128 |  |  | $ | 354 |
Tax benefit realized for the deduction of exercises |  | $ | — |  |  | $ | 35 |  |  | $ | 50 |  |  | $ | 138 |
___________________________________________ (1) Intrinsic value is the amount by which the fair market value of the underlying stock and the related dividend equivalents exceeds the exercise price of the option.
Schedule of stock appreciation rights by grant year | Stock appreciation rights. Information about HEI’s SARs was as follows:
September 30, 2013 |  | Outstanding & Exercisable (Vested)
Year of grant |  | Range of exercise prices |  | Number of shares underlying SARs |  | Weighted-average remaining contractual life |  | Weighted-average exercise price
2004 |  | $26.02 |  | 62,000 |  |  | 0.6 |  | $ | 26.02 |
2005 |  | 26.18 |  | 102,000 |  |  | 1.5 |  | 26.18 |
|  | $26.02-26.18 |  | 164,000 |  |  | 1.2 |  | $ | 26.12 |
Schedule of stock appreciation rights activity and statistics | SARs activity and statistics were as follows:
|  | Three months ended September 30 |  | Nine months ended September 30
(dollars in thousands, except prices) |  | 2013 |  | 2012 |  | 2013 |  | 2012
Shares underlying SARS exercised |  | — |  |  | 2,000 |  |  | — |  |  | 114,000 |
Weighted-average price of shares exercised |  | — |  |  | $ | 26.18 |  |  | — |  |  | $ | 26.17 |
Intrinsic value of shares exercised (1) |  | — |  |  | $ | 3 |  |  | — |  |  | $ | 197 |
Tax benefit realized for the deduction of exercises |  | — |  |  | $ | 1 |  |  | — |  |  | $ | 77 |
___________________________________________
(1) | Intrinsic value is the amount by which the fair market value of the underlying stock and the related dividend equivalent rights exceeds the exercise price of the right.
Schedule of restricted share and stock awards | Restricted shares and restricted stock awards. Information about HEI’s grants of restricted shares and restricted stock awards was as follows:
| Three months ended September 30 |  | Nine months ended September 30
| 2013 |  | 2012 |  | 2013 |  | 2012
| Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1)
Outstanding, beginning of period | 9,005 |  |  | $ | 22.21 |  |  | 14,807 |  |  | $ | 22.45 |  |  | 9,005 |  |  | $ | 22.21 |  |  | 46,807 |  |  | $ | 24.45 |
Granted | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Vested | — |  |  | — |  |  | (1,000 | ) |  | 24.68 |  |  | — |  |  | — |  |  | (33,000 | ) |  | 25.35 |
Forfeited | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Outstanding, end of period | 9,005 |  |  | $ | 22.21 |  |  | 13,807 |  |  | $ | 22.29 |  |  | 9,005 |  |  | $ | 22.21 |  |  | 13,807 |  |  | $ | 22.29 |
___________________________________________
(1) | Weighted-average grant-date fair value per share based on the closing or average price of HEI common stock on the date of grant.
Schedule of restricted stock units | Restricted stock units. Information about HEI’s grants of restricted stock units was as follows:
| Three months ended September 30 |  | Nine months ended September 30
| 2013 |  | 2012 |  | 2013 |  | 2012
| Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1)
Outstanding, beginning of period | 300,313 |  |  | $ | 25.15 |  |  | 319,071 |  |  | $ | 22.81 |  |  | 315,094 |  |  | $ | 22.82 |  |  | 247,286 |  |  | $ | 21.80 |
Granted | 4,000 |  |  | 26.48 |  |  | — |  |  | — |  |  | 111,231 |  |  | 26.88 |  |  | 94,846 |  |  | 26.00 |
Vested | (2,500 | ) |  | 22.31 |  |  | (2,500 | ) |  | 22.31 |  |  | (116,544 | ) |  | 20.39 |  |  | (23,997 | ) |  | 24.69 |
Forfeited | (11,321 | ) |  | 25.88 |  |  | (3,346 | ) |  | 24.63 |  |  | (19,289 | ) |  | 25.62 |  |  | (4,910 | ) |  | 24.92 |
Outstanding, end of period | 290,492 |  |  | $ | 25.16 |  |  | 313,225 |  |  | $ | 22.80 |  |  | 290,492 |  |  | $ | 25.16 |  |  | 313,225 |  |  | $ | 22.80 |
| $ millions |  |  |  |  | $ millions |  |  |  |  | $ millions |  |  |  |  | $ millions |  |  |
Total weighted-average grant-date fair value of shares granted | $ | 0.1 |  |  |  |  | $ | — |  |  |  |  | $ | 3.0 |  |  |  |  | $ | 2.5 |  |  |
___________________________________________
(1) | Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.
Schedule of Long-Term Incentive Plan (LTIP) linked to total return to shareholders | LTIP linked to TRS. Information about HEI’s LTIP grants linked to TRS was as follows:
| Three months ended September 30 |  | Nine months ended September 30
| 2013 |  | 2012 |  | 2013 |  | 2012
| Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1)
Outstanding, beginning of period | 235,064 |  |  | $ | 32.87 |  |  | 239,407 |  |  | $ | 29.12 |  |  | 239,256 |  |  | $ | 29.12 |  |  | 197,385 |  |  | $ | 25.94 |
Granted | 1,505 |  |  | 32.69 |  |  | 1,723 |  |  | 30.71 |  |  | 91,038 |  |  | 32.69 |  |  | 80,647 |  |  | 30.71 |
Vested (settled or lapsed) | — |  |  | — |  |  | — |  |  | — |  |  | (87,753 | ) |  | 22.45 |  |  | (35,397 | ) |  | 14.85 |
Forfeited | (4,442 | ) |  | 32.40 |  |  | (2,450 | ) |  | 31.09 |  |  | (10,414 | ) |  | 32.72 |  |  | (3,955 | ) |  | 30.82 |
Outstanding, end of period | 232,127 |  |  | $ | 32.88 |  |  | 238,680 |  |  | $ | 29.11 |  |  | 232,127 |  |  | $ | 32.88 |  |  | 238,680 |  |  | $ | 29.11 |
| $ millions |  |  |  |  | $ millions |  |  |  |  | $ millions |  |  |  |  | $ millions |  |  |
Total weighted-average grant-date fair value of shares granted | $ | — |  |  |  |  | $ | 0.1 |  |  |  |  | $ | 3.0 |  |  |  |  | $ | 2.5 |  |  |
___________________________________________
(1) | Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model.
Schedule of assumptions used to determine the fair value of Long-Term Incentive Plan (LTIP) linked to total return to shareholders (TRS) | The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TRS and the resulting fair value of LTIP awards granted:
| 2013 |  | 2012
Risk-free interest rate | 0.38 | % |  | 0.33 | %
Expected life in years | 3 |  |  | 3 |
Expected volatility | 19.4 | % |  | 25.3 | %
Range of expected volatility for Peer Group | 12.4% to 25.3% |  |  | 15.5% to 34.5% |
Grant date fair value (per share) | $ | 32.69 |  |  | $ | 30.71 |
Schedule of Long-Term Incentive Plan (LTIP) linked to other performance conditions | LTIP awards linked to other performance conditions. Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows:
| Three months ended September 30 |  | Nine months ended September 30
| 2013 |  | 2012 |  | 2013 |  | 2012
| Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1)
Outstanding, beginning of period | 304,473 |  |  | $ | 26.12 |  |  | 295,184 |  |  | $ | 23.95 |  |  | 247,175 |  |  | $ | 25.04 |  |  | 182,498 |  |  | $ | 22.63 |
Granted | 1,504 |  |  | 27.11 |  |  | 4,148 |  |  | 27.30 |  |  | 120,399 |  |  | 26.89 |  |  | 122,852 |  |  | 26.05 |
Vested and settled | — |  |  | — |  |  | — |  |  | — |  |  | (18,280 | ) |  | 18.95 |  |  | — |  |  | — |
Cancelled | — |  |  | — |  |  | (17,911 | ) |  | 18.95 |  |  | (37,346 | ) |  | 24.96 |  |  | (17,911 | ) |  | 18.95 |
Forfeited | (4,881 | ) |  | 26.53 |  |  | (3,676 | ) |  | 24.78 |  |  | (10,852 | ) |  | 26.20 |  |  | (9,694 | ) |  | 24.44 |
Outstanding, end of period | 301,096 |  |  | $ | 26.12 |  |  | 277,745 |  |  | $ | 24.31 |  |  | 301,096 |  |  | $ | 26.12 |  |  | 277,745 |  |  | $ | 24.31 |
| $ millions |  |  |  |  | $ millions |  |  |  |  | $ millions |  |  |  |  | $ millions |  |  |
Total weighted-average grant-date fair value of shares granted (at target performance levels) | $ | — |  |  |  |  | $ | 0.1 |  |  |  |  | $ | 3.2 |  |  |  |  | $ | 3.2 |  |  |
___________________________________________
(1) | Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value of shares that were outstanding at the beginning and end of the year, and the number of Long-Term Incentive Plan awards that were granted, vested, or forfeited during the year that were linked to other performance conditions. + References No definition available. + Details
Name: | he_ScheduleOfShareBasedCompensationLongTermIncentivePlanLinkedToOtherPerformanceConditionsActivityTableTextBlock
Namespace Prefix: | he_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for long-term incentive plan awards that were outstanding at the beginning and end of the year, and the number that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | he_ScheduleOfShareBasedCompensationLongTermIncentivePlanLinkedToTotalReturnToShareholdersTableTextBlock
Namespace Prefix: | he_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of other activity and statistics relating to stock options. May include the number and weighted-average exercise prices of share options that were exercised or converted, forfeited, and expired during the year as well as intrinsic value of shares exercised, information about cash received from exercises and tax benefits realized for the deduction of exercises. + References No definition available. + Details
Name: | he_ScheduleOfShareBasedCompensationNonqualifiedStockOptionsActivityAndStatisticsTableTextBlock
Namespace Prefix: | he_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock awards that were outstanding at the beginning and end of the year, and the number of restricted stock awards granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | he_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock
Namespace Prefix: | he_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of stock appreciation rights exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under stock appreciation rights, weighted-average exercise price and the remaining contractual option terms. + References No definition available. + Details
Name: | he_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockAppreciationRightsByExercisePriceRangeTableTextBlock
Namespace Prefix: | he_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of other activity and statistics relating to stock appreciation rights. May include the number and aggregate fair value of shares vested, intrinsic value and tax benefit from share exercises. Under Section 409A of the Internal Revenue Code, may also include the dividend equivalent shares distributed, weighted average distribution price, intrinsic value of shares distributed and the tax benefit realized from distributions. + References No definition available. + Details
Name: | he_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityAndStatisticsTableTextBlock
Namespace Prefix: | he_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of Long-Term Incentive Plan linked to total return to shareholders, including, but not limited to: (a) expected term of awards, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References No definition available. + Details
Name: | he_ScheduleOfShareBasedPaymentAwardLongTermIncentivePlanLinkedToTotalReturnToShareholdersValuationAssumptionsTableTextBlock
Namespace Prefix: | he_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration