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Consolidated Statements of Cash Flows - HECO
$ in Thousands
 12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Cash flows from operating activities      
Net income $ 199,714 $ 219,772 $ 203,664
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation of property, plant and equipment 238,114 229,858 214,036
Other amortization 52,664 48,255 41,593
Deferred income taxes (1,706) (15,085) (9,368)
Bad debt expense 2,115 2,150 2,205
Allowance for equity funds used during construction (8,768) (11,987) (10,877)
Other 1,366 18,568 (521)
Changes in assets and liabilities      
Decrease (increase) in fuel oil stock 34,202 (11,493) 7,054
Decrease in regulatory assets 1,007 71,262 9,252
Increase (decrease) in regulatory liabilities (16,562) 1,953 37,358
Change in prepaid and accrued income taxes, tax credits and revenue taxes (35,610) (27,538) 29,429
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability (2,029) (4,482) 20,871
Change in other assets and liabilities (42,189) (36,677) (21,870)
Net cash provided by operating activities 429,407 512,470 499,312
Cash flows from investing activities      
Capital expenditures (383,895) (457,520) (537,369)
Other, net 3,412 13,291 14,061
Net cash used in investing activities (1,413,648) (541,709) (792,059)
Cash flows from financing activities      
Common stock dividends (144,096) (139,463) (134,987)
Proceeds from issuance of long-term debt 415,997 289,349 250,000
Repayment of long-term debt and funds transferred for repayment of long-term debt (178,969) (287,285) (53,887)
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less (71,219) 86,718 (18,999)
Proceeds from issuance of short-term debt 165,000 75,000 25,000
Repayment of short-term debt (150,000) (50,000) (50,000)
Other (3,203) (1,836) (1,603)
Net cash used in financing activities 1,115,535 87,716 200,074
Net decrease in cash and equivalents 131,294 58,477 (92,673)
Cash, cash equivalents and restricted cash, January 1 227,685 169,208 261,881
Cash, cash equivalents and restricted cash, December 31 358,979 227,685 169,208
Less: Restricted cash (17,558) (30,872) 0
Cash and cash equivalents 341,421 196,813 169,208
Hawaiian Electric Company, Inc. and Subsidiaries      
Cash flows from operating activities      
Net income 171,335 158,835 145,648
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation of property, plant and equipment 222,733 215,731 203,626
Other amortization 33,746 29,631 26,602
Deferred income taxes 3,151 (16,284) (7,982)
State refundable credit (9,961) (8,369) (6,239)
Bad debt expense 2,115 2,150 2,205
Allowance for equity funds used during construction (8,768) (11,987) (10,877)
Accrued environmental reserve 6,556 406 273
Other 2,610 27,459 4,669
Changes in assets and liabilities      
Decrease (increase) in accounts receivable (7,286) 18,822 (53,086)
Decrease (increase) in accrued unbilled revenues 15,285 4,495 (14,720)
Decrease (increase) in fuel oil stock 33,699 (12,002) 6,938
Increase in materials and supplies (6,642) (5,498) (807)
Decrease in regulatory assets 1,007 71,262 9,252
Increase (decrease) in regulatory liabilities (16,562) 1,953 37,358
Increase (decrease) in accounts payable (33,129) (2,051) 24,358
Change in prepaid and accrued income taxes, tax credits and revenue taxes (37,180) (28,523) 25,036
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability (4,306) (4,448) 18,746
Change in other assets and liabilities (31,852) (17,626) (17,387)
Net cash provided by operating activities 336,551 423,956 393,613
Cash flows from investing activities      
Capital expenditures (350,864) (419,898) (415,264)
Other, net 6,070 11,374 10,082
Net cash used in investing activities (344,794) (408,524) (405,182)
Cash flows from financing activities      
Common stock dividends (107,134) (101,252) (103,305)
Preferred stock dividends of Hawaiian Electric and subsidiaries (1,995) (1,995) (1,995)
Proceeds from issuance of common stock 34,000 35,500 70,700
Proceeds from issuance of long-term debt 255,000 280,000 100,000
Repayment of long-term debt and funds transferred for repayment of long-term debt (109,000) (283,546) (50,000)
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less (38,987) 38,987 (4,999)
Proceeds from issuance of short-term debt 100,000 75,000 25,000
Repayment of short-term debt (100,000) (50,000) 0
Other (2,209) (2,109) (472)
Net cash used in financing activities 29,675 (9,415) 34,929
Net decrease in cash and equivalents 21,432 6,017 23,360
Cash, cash equivalents and restricted cash, January 1 41,894 35,877 12,517
Cash, cash equivalents and restricted cash, December 31 63,326 41,894 35,877
Less: Restricted cash (15,966) (30,872) 0
Cash and cash equivalents $ 47,360 $ 11,022 $ 35,877