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Retirement benefits (Tables)
 12 Months Ended
Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
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
The changes in the obligations and assets of the Company’s and Utilities' retirement benefit plans and the changes in AOCI (gross) for 2014 and 2013 and the funded status of these plans and amounts related to these plans reflected in the Company’s and Utilities' consolidated balance sheet as of December 31, 2014 and 2013 were as follows:
 
2014
 
2013
(in thousands)
Pension
benefits
 
Other
benefits
 
Pension
benefits
 
Other
benefits
HEI consolidated
 
 
 
 
 
 
 
Benefit obligation, January 1
$
1,446,291

 
$
176,099

 
$
1,590,304

 
$
194,135

Service cost
49,264

 
3,490

 
56,405

 
4,306

Interest cost
72,202

 
8,550

 
64,788

 
7,569

Actuarial losses (gains)
342,446

 
39,098

 
(203,302
)
 
(21,743
)
Benefits paid and expenses
(62,975
)
 
(8,028
)
 
(61,904
)
 
(8,168
)
Benefit obligation, December 31
1,847,228

 
219,209

 
1,446,291

 
176,099

Fair value of plan assets, January 1
1,186,669

 
179,330

 
971,314

 
156,731

Actual return on plan assets
81,123

 
9,149

 
194,130

 
29,164

Employer contributions
60,103

 
(257
)
 
82,083

 
954

Benefits paid and expenses
(61,835
)
 
(7,890
)
 
(60,858
)
 
(7,519
)
Fair value of plan assets, December 31
1,266,060

 
180,332

 
1,186,669

 
179,330

Accrued benefit asset (liability), December 31
$
(581,168
)
 
$
(38,877
)
 
$
(259,622
)
 
$
3,231

Other assets
$
12,800

 
$
—

 
$
24,948

 
$
7,200

Defined benefit pension and other postretirement benefit plans liability
(593,968
)
 
(38,877
)
 
(284,570
)
 
(3,969
)
Accrued benefit asset (liability), December 31
$
(581,168
)
 
$
(38,877
)
 
$
(259,622
)
 
$
3,231

AOCI debit/(credit), January 1 (excluding impact of PUC D&Os)
$
317,544

 
$
(21,722
)
 
$
680,781

 
$
18,846

Recognized during year – net recognized transition obligation
—

 
—

 
—

 
—

Recognized during year – prior service credit (cost)
(88
)
 
1,793

 
97

 
1,793

Recognized during year – net actuarial losses
(20,304
)
 
11

 
(38,438
)
 
(1,602
)
Occurring during year – net actuarial losses (gains)
342,679

 
40,851

 
(324,896
)
 
(40,759
)
AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31
639,831

 
20,933

 
317,544

 
(21,722
)
Cumulative impact of PUC D&Os
(592,291
)
 
(22,975
)
 
(294,266
)
 
19,206

AOCI debit/(credit), December 31
$
47,540

 
$
(2,042
)
 
$
23,278

 
$
(2,516
)
Net actuarial loss (gain)
$
640,015

 
$
35,022

 
$
317,639

 
$
(5,840
)
Prior service gain
(184
)
 
(14,089
)
 
(95
)
 
(15,882
)
AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31
639,831

 
20,933

 
317,544

 
(21,722
)
Cumulative impact of PUC D&Os
(592,291
)
 
(22,975
)
 
(294,266
)
 
19,206

AOCI debit/(credit), December 31
47,540

 
(2,042
)
 
23,278

 
(2,516
)
Income taxes (benefits)
(18,742
)
 
795

 
(9,180
)
 
980

AOCI debit/(credit), net of taxes (benefits), December 31
$
28,798

 
$
(1,247
)
 
$
14,098

 
$
(1,536
)
 
 
 
 
 
 
 
 
 
2014
 
2013
(in thousands)
Pension
benefits
 
Other
benefits
 
Pension
benefits
 
Other
benefits
Hawaiian Electric consolidated
 
 
 
 
 
 
 
Benefit obligation, January 1
$
1,320,810

 
$
169,579

 
$
1,449,445

 
$
187,110

Service cost
47,597

 
3,392

 
54,482

 
4,163

Interest cost
65,979

 
8,234

 
59,119

 
7,288

Actuarial losses (gains)
314,210

 
38,488

 
(185,185
)
 
(20,900
)
Benefits paid and expenses
(57,819
)
 
(7,933
)
 
(57,051
)
 
(8,082
)
Benefit obligation, December 31
1,690,777

 
211,760

 
1,320,810

 
169,579

Fair value of plan assets, January 1
1,058,260

 
176,291

 
861,778

 
154,186

Actual return on plan assets
69,242

 
9,036

 
172,822

 
28,700

Employer contributions
58,948

 
(274
)
 
80,325

 
839

Benefits paid and expenses
(57,445
)
 
(7,797
)
 
(56,665
)
 
(7,434
)
Fair value of plan assets, December 31
1,129,005

 
177,256

 
1,058,260

 
176,291

Accrued benefit asset (liability), December 31
$
(561,772
)
 
$
(34,504
)
 
$
(262,550
)
 
$
6,712

Other assets
$
—

 
$
—

 
$
—

 
$
7,200

Other liabilities (short-term)
(421
)
 
(460
)
 
(388
)
 
(488
)
Defined benefit pension and other postretirement benefit plans liability
(561,351
)
 
(34,044
)
 
(262,162
)
 
—

Accrued benefit asset (liability), December 31
$
(561,772
)
 
$
(34,504
)
 
$
(262,550
)
 
$
6,712

AOCI debit/(credit), January 1 (excluding impact of PUC D&Os)
$
295,973

 
$
(21,907
)
 
$
623,588

 
$
17,432

Recognized during year – net recognized transition asset
—

 
—

 
—

 
—

Recognized during year – prior service credit (cost)
(62
)
 
1,804

 
464

 
1,803

Recognized during year – net actuarial losses
(18,459
)
 
—

 
(34,597
)
 
(1,544
)
Occurring during year – net actuarial losses (gains)
317,651

 
40,193

 
(293,482
)
 
(39,598
)
AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31
595,103

 
20,090

 
295,973

 
(21,907
)
Cumulative impact of PUC D&Os
(592,291
)
 
(22,975
)
 
(294,266
)
 
19,206

AOCI debit/(credit), December 31
$
2,812

 
$
(2,885
)
 
$
1,707

 
$
(2,701
)
Net actuarial loss (gain)
$
595,017

 
$
34,192

 
$
295,825

 
$
(6,001
)
Prior service cost (gain)
86

 
(14,102
)
 
148

 
(15,906
)
AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31
595,103

 
20,090

 
295,973

 
(21,907
)
Cumulative impact of PUC D&Os
(592,291
)
 
(22,975
)
 
(294,266
)
 
19,206

AOCI debit/(credit), December 31
2,812

 
(2,885
)
 
1,707

 
(2,701
)
Income taxes (benefits)
(1,094
)
 
1,122

 
(664
)
 
1,050

AOCI debit/(credit), net of taxes (benefits), December 31
$
1,718

 
$
(1,763
)
 
$
1,043

 
$
(1,651
)
Schedule of weighted-average asset allocation of defined benefit retirement plans
The asset allocation of defined benefit retirement plans to equity and fixed income securities managers and related investment policy targets and ranges were as follows:
 
Pension benefits1
 
Other benefits2
 
 
 
 
 
Investment policy
 
 
 
 
 
Investment policy
December 31
2014

 
2013

 
Target

 
Range
 
2014

 
2013

 
Target

 
Range
Assets held by category
 

 
 

 
 

 
 
 
 

 
 

 
 

 
 
Equity securities managers
73
%
 
73
%
 
70
%
 
65-75
 
72
%
 
74
%
 
70
%
 
65-75
Fixed income securities managers
27

 
27

 
30

 
25-35
 
28

 
26

 
30

 
25-35
 
100
%
 
100
%
 
100
%
 
 
 
100
%
 
100
%
 
100
%
 
 
Schedule of weighted-average assumptions used in accounting for plans
The following weighted-average assumptions were used in the accounting for the plans:
 
Pension benefits
 
Other benefits
December 31
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Benefit obligation
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.22
%
 
5.09
%
 
4.13
%
 
4.17
%
 
5.03
%
 
4.07
%
Rate of compensation increase
3.5

 
3.5

 
3.5

 
NA   

 
NA   

 
NA   

Net periodic benefit cost (years ended)
 
 
 
 
 
 
 
 
 
 
 
Discount rate
5.09

 
4.13

 
5.19

 
5.03

 
4.07

 
4.90

Expected return on plan assets
7.75

 
7.75

 
7.75

 
7.75

 
7.75

 
7.75

Rate of compensation increase
3.5

 
3.5

 
3.5

 
NA   

 
NA   

 
NA   

NA  Not applicable
Schedule of components of net periodic benefit cost for consolidated HEI
The components of NPBC were as follows:
 
Pension benefits
 
Other benefits
(in thousands)
2014
 
2013
 
2012
 
2014
 
2013
 
2012
HEI consolidated
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
49,264

 
$
56,405

 
$
43,221

 
$
3,490

 
$
4,306

 
$
4,211

Interest cost
72,202

 
64,788

 
67,480

 
8,550

 
7,569

 
9,009

Expected return on plan assets
(81,355
)
 
(72,537
)
 
(71,183
)
 
(10,902
)
 
(10,147
)
 
(10,336
)
Amortization of net transition obligation
—

 
—

 
1

 
—

 
—

 
—

Amortization of net prior service (gain) cost
88

 
(97
)
 
(325
)
 
(1,793
)
 
(1,793
)
 
(1,793
)
Amortization of net actuarial loss (gains)
20,304

 
38,438

 
25,675

 
(11
)
 
1,602

 
1,498

Net periodic benefit cost
60,503

 
86,997

 
64,869

 
(666
)
 
1,537

 
2,589

Impact of PUC D&Os
(13,324
)
 
(38,104
)
 
(15,754
)
 
1,976

 
(1,458
)
 
(2,227
)
Net periodic benefit cost (adjusted for impact of PUC D&Os)
47,179

 
48,893

 
49,115

 
1,310

 
79

 
362

Hawaiian Electric consolidated
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
47,597

 
$
54,482

 
$
41,603

 
$
3,392

 
$
4,163

 
$
4,014

Interest cost
65,979

 
59,119

 
61,453

 
8,234

 
7,288

 
8,703

Expected return on plan assets
(72,661
)
 
(64,551
)
 
(64,004
)
 
(10,739
)
 
(10,002
)
 
(10,195
)
Amortization of net transition obligation
—

 
—

 
—

 
—

 
—

 
(9
)
Amortization of net prior service (gain) cost
62

 
(464
)
 
(689
)
 
(1,804
)
 
(1,803
)
 
(1,803
)
Amortization of net actuarial loss
18,459

 
34,597

 
23,428

 
—

 
1,544

 
1,455

Net periodic benefit cost
59,436

 
83,183

 
61,791

 
(917
)
 
1,190

 
2,165

Impact of PUC D&Os
(13,324
)
 
(38,104
)
 
(15,754
)
 
1,976

 
(1,458
)
 
(2,227
)
Net periodic benefit cost (adjusted for impact of PUC D&Os)
$
46,112

 
$
45,079

 
$
46,037

 
$
1,059

 
$
(268
)
 
$
(62
)
Schedule of amounts in accumulated other comprehensive Income (loss) to be recognized over next fiscal year
The estimated prior service credit, net actuarial loss and net transition obligation for defined benefit plans that will be amortized from AOCI or regulatory assets into net periodic benefit cost during 2015 is as follows:
 
HEI consolidated
 
Hawaiian Electric consolidated
(in millions)
Pension benefits
 
Other benefits
 
Pension benefits
 
Other benefits
Estimated prior service cost (credit)
$
—

 
$
(1.8
)
 
$
—

 
$
(1.8
)
Net actuarial loss
35.8

 
1.7

 
32.4

 
1.7

Net transition obligation
—

 
—

 
—

 
—