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Condensed Consolidated Balance Sheets (unaudited) - HECO - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Utility property, plant and equipment    
Total property, plant and equipment, net $ 6,183,503 $ 6,150,126
Current assets    
Cash and cash equivalents 485,192 679,546
Restricted cash 17,531 15,028
Other long-term assets    
Operating lease right-of-use assets 91,182 94,905
Total assets 16,923,208 17,243,821
Capitalization    
Retained earnings 968,842 926,720
Accumulated other comprehensive income, net of taxes-retirement benefit plans (299,151) (289,350)
Common stock equity 2,377,380 2,344,841
Cumulative preferred stock — not subject to mandatory redemption 34,293 34,293
Commitments and contingencies (Notes 2 and 4)
Current liabilities    
Interest and preferred dividends payable 61,452 51,206
Deferred credits and other liabilities    
Deferred income taxes 299,012 297,954
Total liabilities and shareholders’ equity 16,923,208 17,243,821
Hawaiian Electric Company, Inc. and Subsidiaries    
Utility property, plant and equipment    
Land 52,019 52,098
Plant and equipment 8,302,449 8,232,810
Right-of-use assets - finance lease 354,401 342,174
Less accumulated depreciation (3,249,089) (3,197,514)
Construction in progress 330,743 320,223
Utility property, plant and equipment, net 5,790,523 5,749,791
Nonutility property, plant and equipment, less accumulated depreciation of $41 and $40 as of March 31, 2024 and December 31, 2023, respectively 6,941 6,942
Total property, plant and equipment, net 5,797,464 5,756,733
Current assets    
Cash and cash equivalents 129,754 106,077
Restricted cash 2,000 2,000
Customer accounts receivable, net 209,999 244,309
Accrued unbilled revenues, net 171,455 185,644
Other accounts receivable, net 38,025 111,519
Fuel oil stock, at average cost 161,433 148,237
Materials and supplies, at average cost 115,719 114,433
Prepayments and other 72,025 58,491
Regulatory assets 82,503 68,453
Total current assets 982,913 1,039,163
Other long-term assets    
Operating lease right-of-use assets 68,217 71,877
Regulatory assets 232,564 226,351
Other 193,704 189,430
Total other long-term assets 494,485 487,658
Total assets 7,274,862 7,283,554
Capitalization    
Common stock ($6 2/3 par value, authorized 50,000,000 shares; outstanding 17,854,278 shares at March 31, 2024 and December 31, 2023) 119,048 119,048
Premium on capital stock 810,955 810,955
Retained earnings 1,502,479 1,476,258
Accumulated other comprehensive income, net of taxes-retirement benefit plans 2,800 2,849
Common stock equity 2,435,282 2,409,110
Cumulative preferred stock — not subject to mandatory redemption 34,293 34,293
Long-term debt, net 1,886,028 1,934,277
Total capitalization 4,355,603 4,377,680
Commitments and contingencies (Notes 2 and 4)
Current liabilities    
Current portion of operating lease liabilities 16,234 16,617
Current portion of long-term debt, net 46,931 0
Accounts payable 198,636 191,040
Interest and preferred dividends payable 43,926 22,882
Taxes accrued, including revenue taxes 282,446 291,942
Regulatory liabilities 26,149 36,559
Other 108,006 171,436
Total current liabilities 722,328 730,476
Deferred credits and other liabilities    
Operating lease liabilities 58,399 62,098
Finance lease liabilities 341,141 330,978
Deferred income taxes 403,761 399,001
Regulatory liabilities 1,133,662 1,114,131
Unamortized tax credits 81,771 84,312
Defined benefit pension liability 62,331 60,671
Other 115,866 124,207
Total deferred credits and other liabilities 2,196,931 2,175,398
Total liabilities and shareholders’ equity $ 7,274,862 $ 7,283,554