XML 30 R17.htm IDEA: XBRL DOCUMENT
v3.20.2

Retirement benefits | 9 Months Ended
--- | ---
Sep. 30, 2020
Retirement Benefits [Abstract] |
Retirement benefits | Retirement benefits Defined benefit pension and other postretirement benefit plans information. For the first nine months of 2020, the Company contributed $53 million ($52 million by the Utilities) to its pension and other postretirement benefit plans, compared to $36 million ($36 million by the Utilities) in the first nine months of 2019. The Company’s current estimate of total contributions to its pension and other postretirement benefit plans in 2020 is $71 million ($70 million by the Utilities, $1 million by HEI and nil by ASB), compared to $49 million ($48 million by the Utilities, $1 million by HEI and nil by ASB) in 2019. In addition, the Company expects to pay directly $2 million ($1 million by the Utilities) of benefits in 2020, compared to $2 million ($1 million by the Utilities) paid in 2019. The components of net periodic pension costs (NPPC) and net periodic benefit costs (NPBC) for HEI consolidated and Hawaiian Electric consolidated were as follows:
|  | Three months ended September 30 |  | Nine months ended September 30
|  | Pension benefits |  | Other benefits |  | Pension benefits |  | Other benefits
(in thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019
HEI consolidated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 18,341 |  |  | $ | 15,800 |  |  | $ | 641 |  |  | $ | 573 |  |  | $ | 55,066 |  |  | $ | 46,564 |  |  | $ | 1,903 |  |  | $ | 1,656 |
Interest cost |  | 20,660 |  |  | 21,150 |  |  | 1,842 |  |  | 2,006 |  |  | 60,987 |  |  | 63,216 |  |  | 5,553 |  |  | 6,000 |
Expected return on plan assets |  | (28,422) |  |  | (27,991) |  |  | (3,023) |  |  | (3,101) |  |  | (85,353) |  |  | (83,988) |  |  | (9,100) |  |  | (9,273) |
Amortization of net prior period (gain)/cost |  | 2 |  |  | (10) |  |  | (474) |  |  | (451) |  |  | 7 |  |  | (32) |  |  | (1,355) |  |  | (1,355) |
Amortization of net actuarial (gains)/losses |  | 8,944 |  |  | 3,989 |  |  | 53 |  |  | (3) |  |  | 25,059 |  |  | 11,667 |  |  | 154 |  |  | (10) |
Net periodic pension/benefit cost (return) |  | 19,525 |  |  | 12,938 |  |  | (961) |  |  | (976) |  |  | 55,766 |  |  | 37,427 |  |  | (2,845) |  |  | (2,982) |
Impact of PUC D&Os |  | 4,976 |  |  | 11,554 |  |  | 835 |  |  | 821 |  |  | 17,499 |  |  | 36,111 |  |  | 2,389 |  |  | 2,443 |
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) |  | $ | 24,501 |  |  | $ | 24,492 |  |  | $ | (126) |  |  | $ | (155) |  |  | $ | 73,265 |  |  | $ | 73,538 |  |  | $ | (456) |  |  | $ | (539) |
Hawaiian Electric consolidated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 17,921 |  |  | $ | 15,344 |  |  | $ | 635 |  |  | $ | 568 |  |  | $ | 53,703 |  |  | $ | 45,346 |  |  | $ | 1,886 |  |  | $ | 1,643 |
Interest cost |  | 19,183 |  |  | 19,560 |  |  | 1,764 |  |  | 1,920 |  |  | 56,613 |  |  | 58,388 |  |  | 5,327 |  |  | 5,755 |
Expected return on plan assets |  | (26,815) |  |  | (26,146) |  |  | (2,986) |  |  | (3,064) |  |  | (80,527) |  |  | (78,474) |  |  | (8,966) |  |  | (9,135) |
Amortization of net prior period (gain)/cost |  | 1 |  |  | 2 |  |  | (474) |  |  | (451) |  |  | 6 |  |  | 6 |  |  | (1,353) |  |  | (1,353) |
Amortization of net actuarial losses |  | 8,188 |  |  | 3,841 |  |  | 53 |  |  | — |  |  | 22,925 |  |  | 10,993 |  |  | 155 |  |  | — |
Net periodic pension/benefit cost (return) |  | 18,478 |  |  | 12,601 |  |  | (1,008) |  |  | (1,027) |  |  | 52,720 |  |  | 36,259 |  |  | (2,951) |  |  | (3,090) |
Impact of PUC D&Os |  | 4,976 |  |  | 11,554 |  |  | 835 |  |  | 821 |  |  | 17,499 |  |  | 36,111 |  |  | 2,389 |  |  | 2,443 |
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) |  | $ | 23,454 |  |  | $ | 24,155 |  |  | $ | (173) |  |  | $ | (206) |  |  | $ | 70,219 |  |  | $ | 72,370 |  |  | $ | (562) |  |  | $ | (647) |
HEI consolidated recorded retirement benefits expense of $46 million ($43 million by the Utilities) in the first nine months of 2020 and $44 million ($43 million by the Utilities) in the first nine months of 2019 and charged the remaining net periodic benefit cost primarily to electric utility plant. The Utilities have implemented pension and OPEB tracking mechanisms under which all of their retirement benefit expenses (except for executive life and nonqualified pension plan expenses) determined in accordance with GAAP are recovered over time. Under the tracking mechanisms, any actual costs determined in accordance with GAAP that are over/under amounts allowed in rates are charged/credited to a regulatory asset/liability. The regulatory asset/liability for each utility will then be amortized over 5 years beginning with the respective utility’s next rate case. Defined contribution plans information. For the first nine months of 2020 and 2019, the Company’s expenses for its defined contribution plans under the Hawaiian Electric Industries Retirement Savings Plan (HEIRSP) and the ASB 401(k) Plan were $5.5 million and $5.1 million, respectively, and cash contributions were $6.0 million and $6.0 million, respectively. For the first nine months of 2020 and 2019, the Utilities’ expenses for its defined contribution plan under the HEIRSP were $2.1 million and $1.9 million, respectively, and cash contributions were $2.1 million and $1.9 million, respectively.

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for retirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section S99 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(i) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (o) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (p) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(03) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (q) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (r)(1) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(iii) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (l) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (r)(2) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration