XML 86 R34.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Share-based compensation (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of share-based compensation expense and related income tax benefit | Share-based compensation expense and the related income tax benefit were as follows:
|  | Three months ended June 30 |  | Six months ended June 30
(in millions) |  | 2015 |  | 2014 |  | 2015 |  | 2014
HEI consolidated |  |  |  |  |  |  |  |
Share-based compensation expense 1 |  | $ | 2.0 |  |  | $ | 2.8 |  |  | $ | 3.8 |  |  | $ | 5.2 |
Income tax benefit |  | 0.7 |  |  | 1.1 |  |  | 1.4 |  |  | 1.9 |
Hawaiian Electric consolidated |  |  |  |  |  |  |  |
Share-based compensation expense 1 |  | 0.7 |  |  | 0.9 |  |  | 1.2 |  |  | 1.6 |
Income tax benefit |  | 0.3 |  |  | 0.3 |  |  | 0.5 |  |  | 0.6 |
1 | $0.05 million and $0.03 million of this share-based compensation expense was capitalized in the second quarter of 2015 and 2014, respectively. $0.09 million and $0.07 million of this share-based compensation expense was capitalized in the six months ended June 30, 2015 and 2014, respectively.
Schedule of nonemployee director stock award plan activity | HEI granted HEI common stock to nonemployee directors of HEI, Hawaiian Electric and ASB under the 2011 Director Plan as follows:
| Six months ended June 30
($ in millions) | 2015 |  | 2014
Shares granted | 28,246 |  |  | 33,170 |
Fair value | $ | 0.8 |  |  | $ | 0.8 |
Income tax benefit | 0.3 |  |  | 0.3 |
Schedule of stock appreciation rights by grant year | SARs activity and statistics were as follows:
| Three months ended June 30 |  | Six months ended June 30
(dollars in thousands, except prices) | 2015 |  | 2014 |  | 2015 |  | 2014
Shares underlying SARS exercised | — |  |  | — |  |  | 80,000 |  |  | — |
Weighted-average price of shares exercised | $ | — |  |  | $ | — |  |  | $ | 26.18 |  |  | $ | — |
Intrinsic value of shares exercised 1 | — |  |  | — |  |  | 502 |  |  | — |
Tax benefit realized for the deduction of exercises | — |  |  | — |  |  | 82 |  |  | — |
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 stock units | Information about HEI’s grants of restricted stock units was as follows:
| Three months ended June 30 |  | Six months ended June 30
| 2015 |  | 2014 |  | 2015 |  | 2014
| Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1)
Outstanding, beginning of period | 261,691 |  |  | $ | 28.33 |  |  | 332,158 |  |  | $ | 25.04 |  |  | 261,235 |  |  | $ | 25.77 |  |  | 288,151 |  |  | $ | 25.17 |
Granted | 788 |  |  | 31.25 |  |  | — |  |  | — |  |  | 85,082 |  |  | 33.72 |  |  | 115,036 |  |  | 25.19 |
Vested | (832 | ) |  | 26.60 |  |  | (67,832 | ) |  | 22.31 |  |  | (80,051 | ) |  | 25.77 |  |  | (138,861 | ) |  | 24.09 |
Forfeited | (9,345 | ) |  | 28.36 |  |  | — |  |  | — |  |  | (13,964 | ) |  | 27.52 |  |  | — |  |  | — |
Outstanding, end of period | 252,302 |  |  | $ | 28.35 |  |  | 264,326 |  |  | $ | 25.74 |  |  | 252,302 |  |  | $ | 28.35 |  |  | 264,326 |  |  | $ | 25.74 |
Total weighted-average grant-date fair value of shares granted ($ millions) | $ | — |  |  |  |  | $ | — |  |  |  |  | $ | 2.9 |  |  |  |  | $ | 2.9 |  |  |
(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 | Information about HEI’s LTIP grants linked to TRS was as follows:
| Three months ended June 30 |  | Six months ended June 30
| 2015 |  | 2014 |  | 2015 |  | 2014
| Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1)
Outstanding, beginning of period | 168,777 |  |  | $ | 27.63 |  |  | 258,243 |  |  | $ | 28.46 |  |  | 257,956 |  |  | $ | 28.45 |  |  | 232,127 |  |  | $ | 32.88 |
Granted (target level) | — |  |  | — |  |  | 731 |  |  | 22.95 |  |  | — |  |  | — |  |  | 97,524 |  |  | 22.95 |
Vested (issued or unissued and cancelled) | — |  |  | — |  |  | — |  |  | — |  |  | (75,915 | ) |  | 30.71 |  |  | (70,189 | ) |  | 35.46 |
Forfeited | (5,354 | ) |  | 27.42 |  |  | (1,018 | ) |  | 26.50 |  |  | (18,618 | ) |  | 26.41 |  |  | (1,506 | ) |  | 28.32 |
Outstanding, end of period | 163,423 |  |  | $ | 27.63 |  |  | 257,956 |  |  | $ | 28.45 |  |  | 163,423 |  |  | $ | 27.63 |  |  | 257,956 |  |  | $ | 28.45 |
Total weighted-average grant-date fair value of shares granted ($ millions) | $ | — |  |  |  |  | $ | — |  |  |  |  | $ | — |  |  |  |  | $ | 2.2 |  |  |
(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:
| 2014
Risk-free interest rate | 0.66 | %
Expected life in years | 3 |
Expected volatility | 17.8 | %
Range of expected volatility for Peer Group | 12.4% to 23.3% |
Grant date fair value (per share) | $ | 22.95 |
Schedule of Long-Term Incentive Plan (LTIP) 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 June 30 |  | Six months ended June 30
| 2015 |  | 2014 |  | 2015 |  | 2014
| Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1) |  | Shares |  | (1)
Outstanding, beginning of period | 230,219 |  |  | $ | 26.00 |  |  | 360,070 |  |  | $ | 26.01 |  |  | 364,731 |  |  | $ | 26.01 |  |  | 296,843 |  |  | $ | 26.14 |
Granted (target level) | — |  |  | — |  |  | 730 |  |  | 23.34 |  |  | — |  |  | — |  |  | 129,603 |  |  | 25.18 |
Vested (issued) | — |  |  | — |  |  | — |  |  | — |  |  | (121,249 | ) |  | 26.05 |  |  | (65,089 | ) |  | 24.95 |
Forfeited | (10,061 | ) |  | 26.02 |  |  | (1,018 | ) |  | 25.81 |  |  | (23,324 | ) |  | 25.85 |  |  | (1,575 | ) |  | 26.07 |
Outstanding, end of period | 220,158 |  |  | $ | 26.00 |  |  | 359,782 |  |  | $ | 26.01 |  |  | 220,158 |  |  | $ | 26.00 |  |  | 359,782 |  |  | $ | 26.01 |
Total weighted-average grant-date fair value of shares granted (at target performance levels) ($ millions) | $ | — |  |  |  |  | $ | — |  |  |  |  | $ | — |  |  |  |  | $ | 3.3 |  |  |
(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 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 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
- References No definition available. + 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 exercise prices (or conversion ratios) for stock awards granted to nonemployee directors that were outstanding at the beginning and end of the year, and the number of awards that were granted, exercised or converted, forfeited, and expired 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 (g) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationNonemployeeDirectorStockAwardPlanActivityTableTextBlock
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