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v3.24.1.1.u2

Condensed Consolidated Statements of Income (unaudited) - HECO - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2024 | Mar. 31, 2023
Revenues |  |
Revenues | $ 897,158 | $ 928,237
Expenses |  |
Total expenses | 820,739 | 834,719
Total operating income | 76,419 | 93,518
Allowance for equity funds used during construction | 3,640 | 3,301
Retirement defined benefits credit—other than service costs | 1,282 | 1,152
Allowance for borrowed funds used during construction | 1,386 | 1,131
Interest income | 3,133 | 0
Income before income taxes | 54,269 | 70,304
Income taxes | 11,674 | 15,110
Net income (loss) | 42,595 | 55,194
Preferred stock dividends of Hawaiian Electric | 473 | 473
Net income for common stock | 42,122 | 54,721
Hawaiian Electric Company, Inc. and Subsidiaries |  |
Revenues |  |
Revenues | 788,578 | 830,361
Expenses |  |
Fuel oil | 284,296 | 334,097
Purchased power | 159,817 | 152,761
Other operation and maintenance | 143,890 | 128,316
Depreciation | 62,812 | 60,927
Taxes, other than income taxes | 74,408 | 78,385
Total expenses | 725,223 | 754,486
Total operating income | 63,355 | 75,875
Allowance for equity funds used during construction | 3,640 | 3,301
Retirement defined benefits credit—other than service costs | 1,072 | 1,047
Interest expense and other charges, net | (19,985) | (20,246)
Allowance for borrowed funds used during construction | 1,386 | 1,131
Interest income | 1,432 | 0
Income before income taxes | 50,900 | 61,108
Income taxes | 11,180 | 13,600
Net income | 39,720 | 47,508
Preferred stock dividends of subsidiaries | 229 | 229
Net income (loss) | 39,491 | 47,279
Preferred stock dividends of Hawaiian Electric | 270 | 270
Net income for common stock | $ 39,221 | $ 47,009

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