XML 61 R44.htm IDEA: XBRL DOCUMENT v3.10.0.1
Electric utility segment - Condensed consolidating statement of cash flows (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities        
Net income $ 46,527 $ 39,134 $ 87,247 $ 73,800
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation of property, plant and equipment     106,063 100,062
Other amortization     20,603 6,101
Deferred income taxes     (9,672) 17,047
Allowance for equity funds used during construction (2,983) (3,027) (6,277) (5,426)
Other     (147) 246
Changes in assets and liabilities        
Increase in fuel oil stock     (19,867) (5,962)
Increase in regulatory assets     (19,600) 8,179
Change in prepaid and accrued income taxes, tax credits and revenue taxes     (26,558) (37,954)
Decrease in defined benefit pension and other postretirement benefit plans liability     (871) 420
Net cash provided by operating activities     108,271 174,102
Cash flows from investing activities        
Capital expenditures     (259,898) (210,325)
Contributions in aid of construction     13,573 17,571
Other     5,919 8,216
Net cash used in investing activities     (391,420) (387,521)
Cash flows from financing activities        
Common stock dividends     (67,481) (67,426)
Proceeds from issuance of long-term debt     100,000 265,000
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds     (878) (265,000)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less     84,881 49,789
Other     (230) (3,253)
Net cash provided by financing activities     275,933 145,348
Net decrease in cash and cash equivalents     (7,216) (68,071)
Cash and cash equivalents, beginning of period     261,881 278,452
Cash and cash equivalents, end of period 254,665 210,381 254,665 210,381
Consolidating adjustments        
Cash flows from operating activities        
Net income (9,080) (7,936) (18,405) (16,539)
Adjustments to reconcile net income to net cash provided by operating activities:        
Equity in earnings of subsidiaries     18,405 16,539
Common stock dividends received from subsidiaries     (13,654) (13,721)
Depreciation of property, plant and equipment     0 0
Other amortization     0 0
Deferred income taxes     0 (39)
Allowance for equity funds used during construction 0 0 0 0
Other     0 0
Changes in assets and liabilities        
Increase in accounts receivable     (245) 3,256
Decrease (increase) in accrued unbilled revenues     0 0
Increase in fuel oil stock     0 0
Increase in materials and supplies     0 0
Increase in regulatory assets     0 0
Increase in accounts payable     0 0
Change in prepaid and accrued income taxes, tax credits and revenue taxes     (601) (465)
Decrease in defined benefit pension and other postretirement benefit plans liability     0 0
Change in other assets and liabilities     245 (3,256)
Net cash provided by operating activities     (14,255) (14,225)
Cash flows from investing activities        
Capital expenditures     0 0
Contributions in aid of construction     0 0
Other     601 504
Advances (to) from affiliates     (5,400) (8,400)
Net cash used in investing activities     (4,799) (7,896)
Cash flows from financing activities        
Common stock dividends     13,654 13,721
Preferred stock dividends of Hawaiian Electric and subsidiaries     0 0
Proceeds from issuance of long-term debt     0  
Proceeds from issuance of special purpose revenue bonds       0
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds       0
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less     5,400 8,400
Other     0 0
Net cash provided by financing activities     19,054 22,121
Net 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
Hawaiian Electric (parent only) | Reportable Legal Entities        
Cash flows from operating activities        
Net income 31,439 25,914 59,184 47,649
Adjustments to reconcile net income to net cash provided by operating activities:        
Equity in earnings of subsidiaries     (18,455) (16,589)
Common stock dividends received from subsidiaries     13,679 13,771
Depreciation of property, plant and equipment     68,830 65,445
Other amortization     9,200 1,875
Deferred income taxes     (6,708) 15,060
Allowance for equity funds used during construction (2,588) (2,659) (5,475) (4,715)
Other     1,469 1,089
Changes in assets and liabilities        
Increase in accounts receivable     (25,673) (5,100)
Decrease (increase) in accrued unbilled revenues     (3,063) (8,819)
Increase in fuel oil stock     (9,513) (4,250)
Increase in materials and supplies     (2,752) (788)
Increase in regulatory assets     (14,728) 11,378
Increase in accounts payable     13,093 33,121
Change in prepaid and accrued income taxes, tax credits and revenue taxes     (15,343) (29,430)
Decrease in defined benefit pension and other postretirement benefit plans liability     (1,117) 355
Change in other assets and liabilities     1,116 (12,727)
Net cash provided by operating activities     63,744 107,325
Cash flows from investing activities        
Capital expenditures     (156,600) (146,721)
Contributions in aid of construction     9,680 14,078
Other     2,241 4,820
Advances (to) from affiliates     (5,600) 0
Net cash used in investing activities     (150,279) (127,823)
Cash flows from financing activities        
Common stock dividends     (51,652) (43,884)
Preferred stock dividends of Hawaiian Electric and subsidiaries     (540) (540)
Proceeds from issuance of long-term debt     75,000  
Proceeds from issuance of special purpose revenue bonds       162,000
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds       (162,000)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less     75,881 35,590
Other     (291) (2,068)
Net cash provided by financing activities     98,398 (10,902)
Net decrease in cash and cash equivalents     11,863 (31,400)
Cash and cash equivalents, beginning of period     2,059 61,388
Cash and cash equivalents, end of period 13,922 29,988 13,922 29,988
HELCO | Reportable Legal Entities        
Cash flows from operating activities        
Net income 3,896 3,765 10,131 8,483
Adjustments to reconcile net income to net cash provided by operating activities:        
Equity in earnings of subsidiaries     0 0
Common stock dividends received from subsidiaries     0 0
Depreciation of property, plant and equipment     20,093 19,371
Other amortization     2,976 905
Deferred income taxes     (2,429) 3,590
Allowance for equity funds used during construction (124) (134) (235) (249)
Other     (322) 699
Changes in assets and liabilities        
Increase in accounts receivable     (2,387) 1,182
Decrease (increase) in accrued unbilled revenues     697 (602)
Increase in fuel oil stock     (3,934) 94
Increase in materials and supplies     (559) (1,472)
Increase in regulatory assets     (1,974) (1,575)
Increase in accounts payable     3,096 970
Change in prepaid and accrued income taxes, tax credits and revenue taxes     (9,952) (6,290)
Decrease in defined benefit pension and other postretirement benefit plans liability     (380) 26
Change in other assets and liabilities     3,173 129
Net cash provided by operating activities     17,994 25,261
Cash flows from investing activities        
Capital expenditures     (26,667) (22,423)
Contributions in aid of construction     2,243 1,870
Other     884 619
Advances (to) from affiliates     (1,000) (600)
Net cash used in investing activities     (24,540) (20,534)
Cash flows from financing activities        
Common stock dividends     (7,644) (7,748)
Preferred stock dividends of Hawaiian Electric and subsidiaries     (267) (267)
Proceeds from issuance of long-term debt     15,000  
Proceeds from issuance of special purpose revenue bonds       28,000
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds       (28,000)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less     0 0
Other     (52) (357)
Net cash provided by financing activities     7,037 (8,372)
Net decrease in cash and cash equivalents     491 (3,645)
Cash and cash equivalents, beginning of period     4,025 10,749
Cash and cash equivalents, end of period 4,516 7,104 4,516 7,104
Maui Electric | Reportable Legal Entities        
Cash flows from operating activities        
Net income 5,413 4,400 8,732 8,514
Adjustments to reconcile net income to net cash provided by operating activities:        
Equity in earnings of subsidiaries     0 0
Common stock dividends received from subsidiaries     0 0
Depreciation of property, plant and equipment     11,904 11,556
Other amortization     845 1,482
Deferred income taxes     794 4,988
Allowance for equity funds used during construction (271) (234) (567) (462)
Other     (169) (173)
Changes in assets and liabilities        
Increase in accounts receivable     (5,763) (1,067)
Decrease (increase) in accrued unbilled revenues     (1,419) (2,482)
Increase in fuel oil stock     (6,696) (1,806)
Increase in materials and supplies     (233) (1,160)
Increase in regulatory assets     (2,898) (1,624)
Increase in accounts payable     2,095 5,625
Change in prepaid and accrued income taxes, tax credits and revenue taxes     (5,165) (4,725)
Decrease in defined benefit pension and other postretirement benefit plans liability     (464) (79)
Change in other assets and liabilities     1,357 1,807
Net cash provided by operating activities     2,353 20,394
Cash flows from investing activities        
Capital expenditures     (29,953) (21,015)
Contributions in aid of construction     1,650 1,623
Other     575 307
Advances (to) from affiliates     12,000 9,000
Net cash used in investing activities     (15,728) (10,085)
Cash flows from financing activities        
Common stock dividends     (6,010) (5,973)
Preferred stock dividends of Hawaiian Electric and subsidiaries     (191) (191)
Proceeds from issuance of long-term debt     10,000  
Proceeds from issuance of special purpose revenue bonds       75,000
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds       (75,000)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less     5,600 0
Other     (35) (804)
Net cash provided by financing activities     9,364 (6,968)
Net decrease in cash and cash equivalents     (4,011) 3,341
Cash and cash equivalents, beginning of period     6,332 2,048
Cash and cash equivalents, end of period 2,321 5,389 2,321 5,389
Other subsidiaries | Reportable Legal Entities        
Cash flows from operating activities        
Net income 0 0 0 0
Adjustments to reconcile net income to net cash provided by operating activities:        
Equity in earnings of subsidiaries     0 0
Common stock dividends received from subsidiaries     0 0
Depreciation of property, plant and equipment     0 0
Other amortization     0 0
Deferred income taxes     0 0
Allowance for equity funds used during construction 0 0 0 0
Other     0 0
Changes in assets and liabilities        
Increase in accounts receivable     0 0
Decrease (increase) in accrued unbilled revenues     0 0
Increase in fuel oil stock     0 0
Increase in materials and supplies     0 0
Increase in regulatory assets     0 0
Increase in accounts payable     0 0
Change in prepaid and accrued income taxes, tax credits and revenue taxes     0 0
Decrease in defined benefit pension and other postretirement benefit plans liability     0 0
Change in other assets and liabilities     0 0
Net cash provided by operating activities     0 0
Cash flows from investing activities        
Capital expenditures     0 0
Contributions in aid of construction     0 0
Other     0 0
Advances (to) from affiliates     0 0
Net cash used in investing activities     0 0
Cash flows from financing activities        
Common stock dividends     0 0
Preferred stock dividends of Hawaiian Electric and subsidiaries     0 0
Proceeds from issuance of long-term debt     0  
Proceeds from issuance of special purpose revenue bonds       0
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds       0
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less     0 0
Other     0 0
Net cash provided by financing activities     0 0
Net 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
Hawaiian Electric Company, Inc. and Subsidiaries        
Cash flows from operating activities        
Net income 31,668 26,143 59,642 48,107
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     25 50
Depreciation of property, plant and equipment     100,827 96,372
Other amortization     13,021 4,262
Deferred income taxes     (8,343) 23,599
Allowance for equity funds used during construction (2,983) (3,027) (6,277) (5,426)
Other     978 1,615
Changes in assets and liabilities        
Increase in accounts receivable     (34,068) (1,729)
Decrease (increase) in accrued unbilled revenues     (3,785) (11,903)
Increase in fuel oil stock     (20,143) (5,962)
Increase in materials and supplies     (3,544) (3,420)
Increase in regulatory assets     (19,600) 8,179
Increase in accounts payable     18,284 39,716
Change in prepaid and accrued income taxes, tax credits and revenue taxes     (31,061) (40,910)
Decrease in defined benefit pension and other postretirement benefit plans liability     (1,961) 302
Change in other assets and liabilities     5,891 (14,047)
Net cash provided by operating activities     69,836 138,755
Cash flows from investing activities        
Capital expenditures     (213,220) (190,159)
Contributions in aid of construction     13,573 17,571
Other     4,301 6,250
Advances (to) from affiliates     0 0
Net cash used in investing activities     (195,346) (166,338)
Cash flows from financing activities        
Common stock dividends     (51,652) (43,884)
Preferred stock dividends of Hawaiian Electric and subsidiaries     (998) (998)
Proceeds from issuance of long-term debt     100,000 265,000
Proceeds from issuance of special purpose revenue bonds       265,000
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds     0 (265,000)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less     86,881 43,990
Other     (378) (3,229)
Net cash provided by financing activities     133,853 (4,121)
Net decrease in cash and cash equivalents     8,343 (31,704)
Cash and cash equivalents, beginning of period     12,517 74,286
Cash and cash equivalents, end of period $ 20,860 $ 42,582 $ 20,860 $ 42,582