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Consolidated Statements of Income - HECO - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015
Revenues | $ 658,597 | $ 673,185 | $ 632,281 | $ 591,562 | $ 617,395 | $ 646,055 | $ 566,244 | $ 550,960 | $ 2,555,625 | $ 2,380,654 | $ 2,602,982
Expenses |  |  |  |  |  |  |  |  |  |  |
Purchased power |  |  |  |  |  |  |  |  | 587,000 | 563,000 | 594,000
Total expenses |  |  |  |  |  |  |  |  | 2,217,334 | 2,032,479 | 2,280,429
Operating income | 84,988 | 109,545 | 75,896 | 67,862 | 88,427 | 105,442 | 85,455 | 68,851 | 338,291 | 348,175 | 322,553
Allowance for equity funds used during construction |  |  |  |  |  |  |  |  | 12,483 | 8,325 | 6,928
Allowance for borrowed funds used during construction |  |  |  |  |  |  |  |  | 4,778 | 3,144 | 2,457
Income before income taxes |  |  |  |  |  |  |  |  | 276,580 | 373,841 | 254,788
Income taxes |  |  |  |  |  |  |  |  | 109,393 | 123,695 | 93,021
Net income (loss) | 32,843 | 60,544 | 39,134 | 34,666 | 45,107 | 127,613 | 44,601 | 32,825 | 167,187 | 250,146 | 161,767
Preferred stock dividends of subsidiaries |  |  |  |  |  |  |  |  | 1,890 | 1,890 | 1,890
Net income for common stock | 32,370 | 60,073 | 38,661 | 34,193 | 44,634 | 127,142 | 44,128 | 32,352 | 165,297 | 248,256 | 159,877
Hawaiian Electric Company, Inc. and Subsidiaries |  |  |  |  |  |  |  |  |  |  |
Revenues | 583,311 | 598,769 | 556,875 | 518,611 | 544,668 | 572,253 | 495,395 | 482,052 | 2,257,566 | 2,094,368 | 2,335,166
Expenses |  |  |  |  |  |  |  |  |  |  |
Fuel oil |  |  |  |  |  |  |  |  | 587,768 | 454,704 | 654,600
Purchased power |  |  |  |  |  |  |  |  | 586,634 | 562,740 | 594,096
Other operation and maintenance |  |  |  |  |  |  |  |  | 417,910 | 405,533 | 413,089
Depreciation |  |  |  |  |  |  |  |  | 192,784 | 187,061 | 177,380
Taxes, other than income taxes |  |  |  |  |  |  |  |  | 214,949 | 199,862 | 221,885
Total expenses |  |  |  |  |  |  |  |  | 2,000,045 | 1,809,900 | 2,061,050
Operating income | 66,460 | 87,076 | 55,047 | 48,938 | 68,644 | 89,812 | 70,686 | 55,326 | 257,521 | 284,468 | 274,116
Allowance for equity funds used during construction |  |  |  |  |  |  |  |  | 12,483 | 8,325 | 6,928
Interest expense and other charges, net |  |  |  |  |  |  |  |  | (69,637) | (66,824) | (66,370)
Allowance for borrowed funds used during construction |  |  |  |  |  |  |  |  | 4,778 | 3,144 | 2,457
Income before income taxes |  |  |  |  |  |  |  |  | 205,145 | 229,113 | 217,131
Income taxes |  |  |  |  |  |  |  |  | 83,199 | 84,801 | 79,422
Net income (loss) | 25,854 | 47,985 | 26,143 | 21,964 | 34,618 | 47,472 | 36,356 | 25,866 | 121,946 | 144,312 | 137,709
Preferred stock dividends of subsidiaries |  |  |  |  |  |  |  |  | 915 | 915 | 915
Net income attributable to Hawaiian Electric |  |  |  |  |  |  |  |  | 121,031 | 143,397 | 136,794
Preferred stock dividends of Hawaiian Electric |  |  |  |  |  |  |  |  | 1,080 | 1,080 | 1,080
Net income for common stock | $ 25,355 | $ 47,487 | $ 25,644 | $ 21,465 | $ 34,119 | $ 46,974 | $ 35,857 | $ 25,367 | $ 119,951 | $ 142,317 | $ 135,714

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