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Recent Accounting Pronouncements (Tables) | 3 Months Ended
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Mar. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] |
Schedule of new accounting pronouncements and changes in accounting principles | The table below illustrates the effects of the restatement on the previously filed financial statements:
|  | Three months ended March 31, 2015 |  | Three months ended March 31, 2014
|  | As |  |  |  |  |  |  | As |  |  |  |  |
|  | previously |  |  | As |  |  |  |  | previously |  |  | As |  |  |
(in thousands) |  | filed |  |  | restated |  |  | Difference |  |  | filed |  |  | restated |  |  | Difference |
Consolidated Statements of Cash Flows |  |  |  |  |  |  |  |  |  |  |  |
HEI consolidated |  |  |  |  |  |  |  |  |  |  |  |
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |
Other amortization |  | $ | 1,362 |  |  | $ | 2,371 |  |  | $ | 1,009 |  |  | N/A |  |  | N/A |  |  | N/A |
Increase in deferred income taxes (1) |  | 15,265 |  |  | 3,828 |  |  | (11,437 | ) |  | N/A |  |  | N/A |  |  | N/A |
Share-based compensation expense |  | — |  |  | 1,754 |  |  | 1,754 |  |  | $ | — |  |  | $ | 2,361 |  |  | $ | 2,361 |
Increase/(decrease) in accounts, interest and dividends payable |  | (42,463 | ) |  | 22,053 |  |  | 64,516 |  |  | (9,307 | ) |  | 15,306 |  |  | 24,613 |
Change in prepaid and accrued income taxes and utility revenue taxes |  | (61,397 | ) |  | (9,461 | ) |  | 51,936 |  |  | N/A |  |  | N/A |  |  | N/A |
Change in other assets and liabilities (1) |  | 19,826 |  |  | (25,992 | ) |  | (45,818 | ) |  | (27,227 | ) |  | (29,931 | ) |  | (2,704 | )
Net cash provided by operating activities |  | 76,650 |  |  | 138,610 |  |  | 61,960 |  |  | 19,421 |  |  | 43,691 |  |  | 24,270 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | (59,011 | ) |  | (123,527 | ) |  | (64,516 | ) |  | (65,829 | ) |  | (90,442 | ) |  | (24,613 | )
Cash flows from investing activities-Other |  | 3,281 |  |  | 3,549 |  |  | 268 |  |  | — |  |  | 343 |  |  | 343 |
Net cash used in investing activities |  | (87,797 | ) |  | (152,045 | ) |  | (64,248 | ) |  | (74,232 | ) |  | (98,502 | ) |  | (24,270 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |
Cash flows from financing activities-Other |  | (6,253 | ) |  | (3,965 | ) |  | 2,288 |  |  | N/A |  |  | N/A |  |  | N/A |
Net cash provided by financing activities |  | 127,773 |  |  | 130,061 |  |  | 2,288 |  |  | N/A |  |  | N/A |  |  | N/A |
Hawaiian Electric consolidated |  |  |  |  |  |  |  |  |  |  |  |
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |
Other amortization |  | 689 |  |  | 1,698 |  |  | 1,009 |  |  | N/A |  |  | N/A |  |  | N/A |
Increase/(decrease) in accounts payable |  | (49,136 | ) |  | 15,380 |  |  | 64,516 |  |  | (16,024 | ) |  | 8,589 |  |  | 24,613 |
Change in other assets and liabilities |  | (8,522 | ) |  | (9,774 | ) |  | (1,252 | ) |  | (10,981 | ) |  | (11,324 | ) |  | (343 | )
Net cash provided by operating activities |  | 32,887 |  |  | 97,160 |  |  | 64,273 |  |  | 637 |  |  | 24,907 |  |  | 24,270 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | (54,358 | ) |  | (118,874 | ) |  | (64,516 | ) |  | (64,462 | ) |  | (89,075 | ) |  | (24,613 | )
Cash flows from investing activities-Other |  | — |  |  | 243 |  |  | 243 |  |  | — |  |  | 343 |  |  | 343 |
Net cash used in investing activities |  | (45,213 | ) |  | (109,486 | ) |  | (64,273 | ) |  | (57,504 | ) |  | (81,774 | ) |  | (24,270 | )
Note 10 |  |  |  |  |  |  |  |  |  |  |  |
HEI consolidated and Hawaiian Electric consolidated |  |  |  |  |  |  |  |  |  |  |  |
Additions to electric utility property, plant and equipment - unpaid invoices and accruals (investing) (in millions) |  | 24 |  |  | (41 | ) |  | (65 | ) |  | 9 |  |  | (16 | ) |  | (25 | )
(1) As previously filed and adjusted by ASU No. 2014-01 (see Note 11). N/A - Not applicable. The table below summarizes the impact to prior period financial statements of the adoption of ASU No. 2014-01:
|  | HEI Consolidated |  | ASB
| (in thousands) | As previously filed | Adjustment from adoption of ASU No. 2014-01 | Restatement adjustment (see Note 1) | As currently reported |  | As previously filed | Adjustment from adoption of ASU No. 2014-01 | As currently reported
| HEI Consolidated Income Statement/ASB Statement of Income Data |  |  |  |  |  |  |  |
| Three months ended March 31, 2014 |  |  |  |  |  |  |  |
| Bank expenses/Noninterest expense | $ | 41,996 |  | $ | (908 | ) |  | $ | 41,088 |  |  | $ | 38,370 |  | $ | (908 | ) | $ | 37,462 |
| Bank operating income/Income before income taxes | $ | 21,623 |  | $ | 908 |  |  | $ | 22,531 |  |  | $ | 21,624 |  | $ | 908 |  | $ | 22,532 |
| Income taxes | $ | 24,673 |  | $ | 1,048 |  |  | $ | 25,721 |  |  | $ | 7,085 |  | $ | 1,048 |  | $ | 8,133 |
| Net income for common stock/Net income | $ | 45,927 |  | $ | (140 | ) |  | $ | 45,787 |  |  | $ | 14,539 |  | $ | (140 | ) | $ | 14,399 |
| HEI Consolidated Balance Sheet/ASB Balance Sheet Data |  |  |  |  |  |  |  |
| December 31, 2014 |  |  |  |  |  |  |  |
| Other assets | $ | 541,542 |  | $ | 981 |  |  | $ | 542,523 |  |  | $ | 304,435 |  | $ | 981 |  | $ | 305,416 |
| Total assets and Total liabilities and shareholders’ equity | $ | 11,184,161 |  | $ | 981 |  |  | $ | 11,185,142 |  |  | $ | 5,565,241 |  | $ | 981 |  | $ | 5,566,222 |
| Deferred income taxes/Other liabilities | $ | 631,734 |  | $ | 1,836 |  |  | $ | 633,570 |  |  | $ | 116,527 |  | $ | 1,836 |  | $ | 118,363 |
| Total liabilities | $ | 9,358,440 |  | $ | 1,836 |  |  | $ | 9,360,276 |  |  | $ | 5,030,598 |  | $ | 1,836 |  | $ | 5,032,434 |
| Retained earnings | $ | 297,509 |  | $ | (855 | ) |  | $ | 296,654 |  |  | $ | 212,789 |  | $ | (855 | ) | $ | 211,934 |
| Total shareholders’ equity | $ | 1,791,428 |  | $ | (855 | ) |  | $ | 1,790,573 |  |  | $ | 534,643 |  | $ | (855 | ) | $ | 533,788 |
| HEI Consolidated Statement of Changes in Stockholders’ Equity |  |  |  |  |  |  |  |
| December 31, 2013 |  |  |  |  |  |  |  |
| Retained earnings | $ | 255,694 |  | $ | (664 | ) |  | $ | 255,030 |  |  |  |  |
| Total shareholders’ equity | $ | 1,727,070 |  | $ | (664 | ) |  | $ | 1,726,406 |  |  |  |  |
| HEI Consolidated Statement of Cash Flows |  |  |  |  |  |  |  |
| Three months ended March 31, 2014 |  |  |  |  |  |  |  |
| Net income | $ | 46,400 |  | $ | (140 | ) |  | $ | 46,260 |  |  |  |  |
| Increase in deferred income taxes | $ | 6,298 |  | $ | 159 |  |  | $ | 6,457 |  |  |  |  |
| Change in other assets and liabilities | $ | (27,208 | ) | $ | (19 | ) | $ | (2,704 | ) | $ | (29,931 | ) |  |  |  |

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