XML 37 R15.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Capitalization - HECO - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Common stock equity    
Retained earnings $ 438,972,000 $ 324,766,000
Accumulated other comprehensive income, net of taxes - Retirement benefit plans 24,744,000 24,336,000
Accumulated other comprehensive loss, net of tax benefits (33,129,000) (26,262,000)
Total shareholders’ equity 2,066,753,000 1,927,640,000
Preferred stock of subsidiaries - not subject to mandatory redemption $ 34,293,000 $ 34,293,000
6.50 %, series 2004, Junior subordinated deferrable interest debentures, due 2034    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 6.50% 6.50%
Hawaiian Electric Company, Inc (HECO)    
Common stock equity    
Total shareholders’ equity $ 1,799,787,000 $ 1,728,325,000
Other long-term debt – unsecured:    
Long-term debt, net 915,437,000 875,163,000
Total capitalization $ 2,737,517,000 $ 2,625,781,000
Hawaiian Electric Company, Inc (HECO) | 3.25% Refunding Series 2015 SPRBs due 2025    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 3.25% 3.25%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):    
Secured long-term debt $ 40,000,000 $ 40,000,000
Hawaiian Electric Company, Inc (HECO) | 6.50%, series 2009, due 2039    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 6.50% 6.50%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):    
Secured long-term debt $ 90,000,000 $ 90,000,000
Hawaiian Electric Company, Inc (HECO) | 4.60%, refunding series 2007B, due 2026    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.60% 4.60%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):    
Secured long-term debt $ 62,000,000 $ 62,000,000
Hawaiian Electric Company, Inc (HECO) | 4.65%, series 2007A, due 2037    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.65% 4.65%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):    
Secured long-term debt $ 100,000,000 $ 100,000,000
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 4.54%, Series 2016A, due 2046    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.54% 4.54%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 40,000,000 $ 0
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 5.23%, Series 2015A, due 2045    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 5.23% 5.23%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 50,000,000 $ 50,000,000
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 4.45%, Series 2013A, due 2022    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.45% 4.45%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 40,000,000 $ 40,000,000
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 4.84%, Series 2013B, due 2027    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.84% 4.84%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 50,000,000 $ 50,000,000
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 5.65%, Series 2013C, due 2043    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 5.65% 5.65%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 50,000,000 $ 50,000,000
Hawaiian Electric Company, Inc (HECO) | Senior notes 3.79%, Series 2012A, due 2018    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 3.79% 3.79%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 30,000,000 $ 30,000,000
Hawaiian Electric Company, Inc (HECO) | Senior notes 4.03%, Series 2012B, due 2020    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.03% 4.03%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 62,000,000 $ 62,000,000
Hawaiian Electric Company, Inc (HECO) | Senior notes 4.55%, due 2023    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.55% 4.55%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 50,000,000 $ 50,000,000
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 4.72%, Series 2012D, due 2029    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.72% 4.72%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 35,000,000 $ 35,000,000
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 5.39%, Series 2012E, due 2042    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 5.39% 5.39%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 150,000,000 $ 150,000,000
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 4.53%, Series 2012F, due 2032    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.53% 4.53%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 40,000,000 $ 40,000,000
Hawaiian Electric Company, Inc (HECO) | 6.50 %, series 2004, Junior subordinated deferrable interest debentures, due 2034    
Other long-term debt – unsecured:    
Other long-term debt - unsecured 51,546,000 51,546,000
Hawaii Electric Light Company, Inc. (HELCO)    
Common stock equity    
Total shareholders’ equity 291,291,000 292,702,000
Other long-term debt – unsecured:    
Long-term debt, net 213,703,000 213,580,000
Total capitalization $ 511,994,000 $ 513,282,000
Hawaii Electric Light Company, Inc. (HELCO) | 3.25% Refunding Series 2015 SPRBs due 2025    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 3.25% 3.25%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):    
Secured long-term debt $ 5,000,000 $ 5,000,000
Hawaii Electric Light Company, Inc. (HELCO) | 6.50%, series 2009, due 2039    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 6.50% 6.50%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):    
Secured long-term debt $ 60,000,000 $ 60,000,000
Hawaii Electric Light Company, Inc. (HELCO) | 4.60%, refunding series 2007B, due 2026    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.60% 4.60%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):    
Secured long-term debt $ 8,000,000 $ 8,000,000
Hawaii Electric Light Company, Inc. (HELCO) | 4.65%, series 2007A, due 2037    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.65% 4.65%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):    
Secured long-term debt $ 20,000,000 $ 20,000,000
Hawaii Electric Light Company, Inc. (HELCO) | Hawaii Electric Light, 5.23%, Series 2015A, due 2045    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 5.23% 5.23%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 25,000,000 $ 25,000,000
Hawaii Electric Light Company, Inc. (HELCO) | Hawaii Electric Light, 3.83%, Series 2013A, due 2020    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 3.83% 3.83%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 14,000,000 $ 14,000,000
Hawaii Electric Light Company, Inc. (HELCO) | Hawaii Electric Light, 4.45%, Series 2013B, due 2022    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.45% 4.45%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 12,000,000 $ 12,000,000
Hawaii Electric Light Company, Inc. (HELCO) | Hawaii Electric Light, 4.84%, Series 2013C, due 2027    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.84% 4.84%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 30,000,000 $ 30,000,000
Hawaii Electric Light Company, Inc. (HELCO) | Senior notes 3.79%, Series 2012A, due 2018    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 3.79% 3.79%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 11,000,000 $ 11,000,000
Hawaii Electric Light Company, Inc. (HELCO) | Senior notes 4.55%, due 2023    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.55% 4.55%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 20,000,000 $ 20,000,000
Hawaii Electric Light Company, Inc. (HELCO) | Series G, 7.625% Preferred Stock    
Common stock equity    
Preferred stock, par value (in dollars per share) $ 100 $ 100
Shares outstanding December 31, 2013 70,000 70,000
Preferred stock of subsidiaries - not subject to mandatory redemption $ 7,000,000 $ 7,000,000
Maui Electric Company, Limited (MECO)    
Common stock equity    
Total shareholders’ equity 259,554,000 263,725,000
Other long-term debt – unsecured:    
Long-term debt, net 190,120,000 189,959,000
Total capitalization $ 454,674,000 $ 458,684,000
Maui Electric Company, Limited (MECO) | 3.25% Refunding Series 2015 SPRBs due 2025    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 3.25% 3.25%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):    
Secured long-term debt $ 2,000,000 $ 2,000,000
Maui Electric Company, Limited (MECO) | 4.60%, refunding series 2007B, due 2026    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.60% 4.60%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):    
Secured long-term debt $ 55,000,000 $ 55,000,000
Maui Electric Company, Limited (MECO) | 4.65%, series 2007A, due 2037    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.65% 4.65%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):    
Secured long-term debt $ 20,000,000 $ 20,000,000
Maui Electric Company, Limited (MECO) | Maui Electric, 5.23%, Series 2015A, due 2045    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 5.23% 5.23%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 5,000,000 $ 5,000,000
Maui Electric Company, Limited (MECO) | Maui Electric, 4.84%, Series 2013A, due 2027    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.84% 4.84%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 20,000,000 $ 20,000,000
Maui Electric Company, Limited (MECO) | Maui Electric, 5.65%, Series 2013B, due 2043    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 5.65% 5.65%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 20,000,000 $ 20,000,000
Maui Electric Company, Limited (MECO) | Senior notes 3.79%, Series 2012A, due 2018    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 3.79% 3.79%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 9,000,000 $ 9,000,000
Maui Electric Company, Limited (MECO) | Senior notes 4.03%, Series 2012B, due 2020    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.03% 4.03%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 20,000,000 $ 20,000,000
Maui Electric Company, Limited (MECO) | Senior notes 4.55%, due 2023    
Common stock equity    
Debt instrument, stated interest rate (as a percent) 4.55% 4.55%
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 30,000,000 $ 30,000,000
Maui Electric Company, Limited (MECO) | Series H, 7.625% Preferred Stock    
Common stock equity    
Preferred stock, par value (in dollars per share) $ 100 $ 100
Shares outstanding December 31, 2013 50,000 50,000
Preferred stock of subsidiaries - not subject to mandatory redemption $ 5,000,000 $ 5,000,000
Hawaiian Electric Company, Inc. and Subsidiaries    
Common stock equity    
Common stock of $6 2/3 par value, Authorized: 50,000,000 shares. Outstanding: 16,019,785 shares and 15,805327 shares at December 31, 2016 and 2015, respectively 106,818,000 105,388,000
Premium on capital stock 601,491,000 578,930,000
Retained earnings 1,091,800,000 1,043,082,000
Accumulated other comprehensive income, net of taxes - Unrealized losses on derivatives (454,000) 0
Accumulated other comprehensive income, net of taxes - Retirement benefit plans (132,000) (925,000)
Accumulated other comprehensive loss, net of tax benefits (322,000) 925,000
Total shareholders’ equity $ 1,799,787,000 $ 1,728,325,000
Shares outstanding December 31, 2013 1,234,657 1,234,657
Preferred stock of subsidiaries - not subject to mandatory redemption $ 34,293,000 $ 34,293,000
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):    
Secured long-term debt 462,000,000 462,000,000
Other long-term debt – unsecured:    
Other long-term debt - unsecured 864,546,000 824,546,000
Total long-term debt 1,326,546,000 1,286,546,000
Less unamortized discount 7,286,000 7,844,000
Long-term debt, net 1,319,260,000 1,278,702,000
Total capitalization 3,153,340,000 3,041,320,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes    
Other long-term debt – unsecured:    
Other long-term debt - unsecured $ 813,000,000 $ 773,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series C, 4.25% Preferred Stock    
Common stock equity    
Preferred stock, par value (in dollars per share) $ 20 $ 20
Shares outstanding December 31, 2013 150,000 150,000
Preferred stock of subsidiaries - not subject to mandatory redemption $ 3,000,000 $ 3,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series D, 5.00% Preferred Stock    
Common stock equity    
Preferred stock, par value (in dollars per share) $ 20 $ 20
Shares outstanding December 31, 2013 50,000 50,000
Preferred stock of subsidiaries - not subject to mandatory redemption $ 1,000,000 $ 1,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series E, 5.00% Preferred Stock    
Common stock equity    
Preferred stock, par value (in dollars per share) $ 20 $ 20
Shares outstanding December 31, 2013 150,000 150,000
Preferred stock of subsidiaries - not subject to mandatory redemption $ 3,000,000 $ 3,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series H, 5.25% Preferred Stock    
Common stock equity    
Preferred stock, par value (in dollars per share) $ 20 $ 20
Shares outstanding December 31, 2013 250,000 250,000
Preferred stock of subsidiaries - not subject to mandatory redemption $ 5,000,000 $ 5,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series I, 5.00% Preferred Stock    
Common stock equity    
Preferred stock, par value (in dollars per share) $ 20 $ 20
Shares outstanding December 31, 2013 89,657 89,657
Preferred stock of subsidiaries - not subject to mandatory redemption $ 1,793,000 $ 1,793,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series J, 4.75% Preferred Stock    
Common stock equity    
Preferred stock, par value (in dollars per share) $ 20 $ 20
Shares outstanding December 31, 2013 250,000 250,000
Preferred stock of subsidiaries - not subject to mandatory redemption $ 5,000,000 $ 5,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series K, 4.65% Preferred Stock    
Common stock equity    
Preferred stock, par value (in dollars per share) $ 20 $ 20
Shares outstanding December 31, 2013 175,000 175,000
Preferred stock of subsidiaries - not subject to mandatory redemption $ 3,500,000 $ 3,500,000