EX-11 4 hei_12312013ex11.htm EXHIBIT 11
HEI Exhibit 11
Hawaiian Electric Industries, Inc.
COMPUTATION OF EARNINGS PER SHARE
OF COMMON STOCK
Years ended December 31, 2013, 2012, 2011, 2010 and 2009

(in thousands, except per share amounts) |  | 2013 |  |  | 2012 |  |  | 2011 |  |  | 2010 |  |  | 2009 |
Net income for common stock |  | $ | 161,516 |  |  | $ | 138,658 |  |  | $ | 138,230 |  |  | $ | 113,535 |  |  | $ | 83,011 |
Weighted-average number of common shares outstanding |  | 98,968 |  |  | 96,908 |  |  | 95,510 |  |  | 93,421 |  |  | 91,396 |
Adjusted weighted-average number of common shares outstanding |  | 99,623 |  |  | 97,338 |  |  | 95,820 |  |  | 93,693 |  |  | 91,516 |
Basic earnings per common share |  | $ | 1.63 |  |  | $ | 1.43 |  |  | $ | 1.45 |  |  | $ | 1.22 |  |  | $ | 0.91 |
Diluted earnings per common share |  | $ | 1.62 |  |  | $ | 1.42 |  |  | $ | 1.44 |  |  | $ | 1.21 |  |  | $ | 0.91 |