XML 90 R49.htm IDEA: XBRL DOCUMENT v3.2.0.727
Electric utility subsidiary - Consolidating statement of cash flows (unaudited) (Details 5) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities        
Net income $ 35,491 $ 41,754 $ 67,830 $ 88,014
Adjustments to reconcile net income to net cash provided by operating activities        
Depreciation of property, plant and equipment     91,731 86,397
Other amortization     4,320 4,014
Increase in deferred income taxes     22,980 28,570
Allowance for equity funds used during construction (1,896) (1,387) (3,309) (2,996)
Change in cash overdraft     193 (1,038)
Changes in assets and liabilities        
Decrease (increase) in fuel oil stock     (2,362) (27,206)
Increase in regulatory assets     (19,976) (17,731)
Change in prepaid and accrued income and utility revenue taxes     (4,390) (32,510)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability     218 (1,714)
Net cash provided by operating activities     104,303 46,195
Cash flows from investing activities        
Capital expenditures     (142,236) (149,253)
Contributions in aid of construction     19,089 13,209
Net cash used in investing activities     (227,706) (272,102)
Cash flows from financing activities        
Common stock dividends     (65,140) (62,916)
Net increase in short-term borrowings with original maturities of three months or less     5,571 79,693
Other     246 (228)
Net cash provided by financing activities     248,548 194,248
Net increase (decrease) in cash and cash equivalents     125,145 (31,659)
Hawaiian Electric Company        
Cash flows from operating activities        
Net income 33,111 34,500 60,255 70,190
Adjustments to reconcile net income to net cash provided by operating activities        
Equity in earnings of subsidiaries     (17,366) (18,826)
Common stock dividends received from subsidiaries     12,647 13,038
Depreciation of property, plant and equipment     58,778 54,601
Other amortization     1,177 554
Increase in deferred income taxes     26,423 34,976
Change in tax credits, net     3,803 3,482
Allowance for equity funds used during construction (1,581) (1,417) (2,704) (2,889)
Changes in assets and liabilities        
Decrease (increase) in accounts receivable     13,651 (4,840)
Decrease in accrued unbilled revenues     22,907 1,058
Decrease (increase) in fuel oil stock     (11,195) (23,457)
Increase in materials and supplies     297 (229)
Increase in regulatory assets     (15,984) (15,893)
Decrease in accounts payable     (56,746) (54,777)
Change in prepaid and accrued income and utility revenue taxes     (53,350) (33,867)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability     0 (281)
Change in other assets and liabilities     (6,099) (19,897)
Net cash provided by operating activities     36,494 2,943
Cash flows from investing activities        
Capital expenditures     (103,079) (104,710)
Contributions in aid of construction     16,628 8,520
Advances from affiliates     (2,100) (16,761)
Net cash used in investing activities     (88,551) (112,951)
Cash flows from financing activities        
Common stock dividends     (45,203) (44,246)
Preferred stock dividends of Hawaiian Electric and subsidiaries     (540) (540)
Net increase in short-term borrowings with original maturities of three months or less     88,993 101,989
Other     (216) (334)
Net cash provided by financing activities     43,034 56,869
Net increase (decrease) in cash and cash equivalents     (9,023) (53,139)
Cash and cash equivalents, beginning of period     12,416 61,245
Cash and cash equivalents, end of period 3,393 8,106 3,393 8,106
HELCO        
Cash flows from operating activities        
Net income 4,617 4,979 8,539 10,274
Adjustments to reconcile net income to net cash provided by operating activities        
Depreciation of property, plant and equipment     18,625 17,951
Other amortization     870 1,299
Increase in deferred income taxes     1,376 4,478
Change in tax credits, net     399 434
Allowance for equity funds used during construction (165) (121) (310) (186)
Changes in assets and liabilities        
Decrease (increase) in accounts receivable     (787) (1,527)
Decrease in accrued unbilled revenues     2,154 (352)
Decrease (increase) in fuel oil stock     5,450 1,661
Increase in materials and supplies     (508) (246)
Increase in regulatory assets     (2,987) (1,640)
Decrease in accounts payable     (8,755) (5,621)
Change in prepaid and accrued income and utility revenue taxes     (3,079) (3,709)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability     0 0
Change in other assets and liabilities     (1,724) (2,586)
Net cash provided by operating activities     19,263 20,230
Cash flows from investing activities        
Capital expenditures     (17,762) (20,567)
Contributions in aid of construction     1,465 2,493
Advances from affiliates     0 1,000
Net cash used in investing activities     (16,297) (17,074)
Cash flows from financing activities        
Common stock dividends     (5,010) (5,813)
Preferred stock dividends of Hawaiian Electric and subsidiaries     (267) (267)
Net increase in short-term borrowings with original maturities of three months or less     2,500 3,400
Other     0 (48)
Net cash provided by financing activities     (2,777) (2,728)
Net increase (decrease) in cash and cash equivalents     189 428
Cash and cash equivalents, beginning of period     612 1,326
Cash and cash equivalents, end of period 801 1,754 801 1,754
Maui Electric        
Cash flows from operating activities        
Net income 5,236 5,109 9,235 8,960
Adjustments to reconcile net income to net cash provided by operating activities        
Depreciation of property, plant and equipment     11,081 10,644
Other amortization     701 1,744
Increase in deferred income taxes     5,521 5,932
Change in tax credits, net     259 311
Allowance for equity funds used during construction (150) 151 (295) 79
Change in cash overdraft     193 (1,038)
Changes in assets and liabilities        
Decrease (increase) in accounts receivable     2,377 708
Decrease in accrued unbilled revenues     2,869 1,549
Decrease (increase) in fuel oil stock     3,383 (5,410)
Increase in materials and supplies     106 (1,360)
Increase in regulatory assets     (1,005) (198)
Decrease in accounts payable     (3,450) (2,908)
Change in prepaid and accrued income and utility revenue taxes     (7,184) (694)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability     221 (217)
Change in other assets and liabilities     (3,565) (3,155)
Net cash provided by operating activities     20,447 14,947
Cash flows from investing activities        
Capital expenditures     (13,722) (20,457)
Contributions in aid of construction     996 2,196
Advances from affiliates     0 0
Net cash used in investing activities     (12,726) (18,261)
Cash flows from financing activities        
Common stock dividends     (7,587) (7,175)
Preferred stock dividends of Hawaiian Electric and subsidiaries     (191) (191)
Net increase in short-term borrowings with original maturities of three months or less     (400) 13,361
Other     (1) (75)
Net cash provided by financing activities     (8,179) 5,920
Net increase (decrease) in cash and cash equivalents     (458) 2,606
Cash and cash equivalents, beginning of period     633 153
Cash and cash equivalents, end of period 175 2,759 175 2,759
Other subsidiaries        
Cash flows from operating activities        
Net income 0 0 0 0
Changes in assets and liabilities        
Net cash provided by operating activities     0 0
Cash flows from investing activities        
Capital expenditures     0 0
Contributions in aid of construction     0 0
Advances from affiliates     0 0
Net cash used in investing activities     0 0
Cash flows from financing activities        
Net increase (decrease) in cash and cash equivalents     0 0
Cash and cash equivalents, beginning of period     101 101
Cash and cash equivalents, end of period 101 101 101 101
Consolidating adjustments        
Cash flows from operating activities        
Net income (9,624) (9,859) (17,316) (18,776)
Adjustments to reconcile net income to net cash provided by operating activities        
Equity in earnings of subsidiaries     17,316 18,776
Common stock dividends received from subsidiaries     (12,597) (12,988)
Changes in assets and liabilities        
Decrease (increase) in accounts receivable     1,714 620
Change in other assets and liabilities     (1,714) (620)
Net cash provided by operating activities     (12,597) (12,988)
Cash flows from investing activities        
Capital expenditures     0 0
Contributions in aid of construction     0 0
Advances from affiliates     2,100 15,761
Net cash used in investing activities     2,100 15,761
Cash flows from financing activities        
Common stock dividends     12,597 12,988
Net increase in short-term borrowings with original maturities of three months or less     (2,100) (15,761)
Net cash provided by financing activities     10,497 (2,773)
Net increase (decrease) in cash and cash equivalents     0 0
Cash and cash equivalents, beginning of period     0 0
Cash and cash equivalents, end of period 0 0 0 0
HECO Consolidated        
Cash flows from operating activities        
Net income 33,340 34,729 60,713 70,648
Adjustments to reconcile net income to net cash provided by operating activities        
Equity in earnings of subsidiaries     (50) (50)
Common stock dividends received from subsidiaries     50 50
Depreciation of property, plant and equipment     88,484 83,196
Other amortization     2,748 3,597
Increase in deferred income taxes     33,320 45,386
Change in tax credits, net     4,461 4,227
Allowance for equity funds used during construction (1,896) (1,387) (3,309) (2,996)
Change in cash overdraft     193 (1,038)
Changes in assets and liabilities        
Decrease (increase) in accounts receivable     16,955 (5,039)
Decrease in accrued unbilled revenues     27,930 2,255
Decrease (increase) in fuel oil stock     (2,362) (27,206)
Increase in materials and supplies     (105) (1,835)
Increase in regulatory assets     (19,976) (17,731)
Decrease in accounts payable     (68,951) (63,306)
Change in prepaid and accrued income and utility revenue taxes     (63,613) (38,270)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability     221 (498)
Change in other assets and liabilities     (13,102) (26,258)
Net cash provided by operating activities     63,607 25,132
Cash flows from investing activities        
Capital expenditures     (134,563) (145,734)
Contributions in aid of construction     19,089 13,209
Advances from affiliates     0 0
Net cash used in investing activities     (115,474) (132,525)
Cash flows from financing activities        
Common stock dividends     (45,203) (44,246)
Preferred stock dividends of Hawaiian Electric and subsidiaries     (998) (998)
Net increase in short-term borrowings with original maturities of three months or less     88,993 102,989
Other     (217) (457)
Net cash provided by financing activities     42,575 57,288
Net increase (decrease) in cash and cash equivalents     (9,292) (50,105)
Cash and cash equivalents, beginning of period     13,762 62,825
Cash and cash equivalents, end of period $ 4,470 $ 12,720 $ 4,470 $ 12,720