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Segment financial information | 6 Months Ended
--- | ---
Jun. 30, 2024
Segment Reporting [Abstract] |
Segment financial information | Segment financial information
(in thousands) |  | Electric utility |  | Bank |  | Other |  | Total
Three months ended June 30, 2024 |  |  |  |  |  |  |  |
Revenues |  | $ | 792,331 |  |  | $ | 101,943 |  |  | $ | 3,086 |  |  | $ | 897,360 |
Income (loss) before income taxes |  | $ | (1,658,653) |  |  | $ | (57,106) |  |  | $ | (26,521) |  |  | $ | (1,742,280) |
Income taxes (benefit) |  | (429,758) |  |  | (11,319) |  |  | (6,192) |  |  | (447,269) |
Net income (loss) |  | (1,228,895) |  |  | (45,787) |  |  | (20,329) |  |  | (1,295,011) |
Preferred stock dividends of subsidiaries |  | 499 |  |  | — |  |  | (26) |  |  | 473 |
Net income (loss) for common stock |  | $ | (1,229,394) |  |  | $ | (45,787) |  |  | $ | (20,303) |  |  | $ | (1,295,484) |
Six months ended June 30, 2024 |  |  |  |  |  |  |  |
Revenues |  | $ | 1,580,909 |  |  | $ | 207,087 |  |  | $ | 6,522 |  |  | $ | 1,794,518 |
Income (loss) before income taxes |  | $ | (1,607,753) |  |  | $ | (31,293) |  |  | $ | (48,965) |  |  | $ | (1,688,011) |
Income taxes (benefit) |  | (418,578) |  |  | (6,440) |  |  | (10,577) |  |  | (435,595) |
Net income (loss) |  | (1,189,175) |  |  | (24,853) |  |  | (38,388) |  |  | (1,252,416) |
Preferred stock dividends of subsidiaries |  | 998 |  |  | — |  |  | (52) |  |  | 946 |
Net income (loss) for common stock |  | $ | (1,190,173) |  |  | $ | (24,853) |  |  | $ | (38,336) |  |  | $ | (1,253,362) |
Total assets (at June 30, 2024) |  | $ | 7,398,898 |  |  | $ | 9,280,805 |  |  | $ | 375,711 |  |  | $ | 17,055,414 |
Three months ended June 30, 2023 |  |  |  |  |  |  |  |
Revenues |  | $ | 794,191 |  |  | $ | 96,885 |  |  | $ | 4,609 |  |  | $ | 895,685 |
Income (loss) before income taxes |  | $ | 58,868 |  |  | $ | 25,055 |  |  | $ | (14,556) |  |  | $ | 69,367 |
Income taxes (benefit) |  | 13,070 |  |  | 4,851 |  |  | (3,637) |  |  | 14,284 |
Net income (loss) |  | 45,798 |  |  | 20,204 |  |  | (10,919) |  |  | 55,083 |
Preferred stock dividends of subsidiaries |  | 499 |  |  | — |  |  | (26) |  |  | 473 |
Net income (loss) for common stock |  | $ | 45,299 |  |  | $ | 20,204 |  |  | $ | (10,893) |  |  | $ | 54,610 |
Six months ended June 30, 2023 |  |  |  |  |  |  |  |
Revenues |  | $ | 1,624,552 |  |  | $ | 190,742 |  |  | $ | 8,628 |  |  | $ | 1,823,922 |
Income (loss) before income taxes |  | $ | 119,976 |  |  | $ | 48,762 |  |  | $ | (29,067) |  |  | $ | 139,671 |
Income taxes (benefit) |  | 26,670 |  |  | 9,996 |  |  | (7,272) |  |  | 29,394 |
Net income (loss) |  | 93,306 |  |  | 38,766 |  |  | (21,795) |  |  | 110,277 |
Preferred stock dividends of subsidiaries |  | 998 |  |  | — |  |  | (52) |  |  | 946 |
Net income (loss) for common stock |  | $ | 92,308 |  |  | $ | 38,766 |  |  | $ | (21,743) |  |  | $ | 109,331 |
Total assets (at December 31, 2023) |  | $ | 7,283,554 |  |  | $ | 9,673,192 |  |  | $ | 287,075 |  |  | $ | 17,243,821 |
Intercompany electricity sales of the Utilities to ASB and “other” segments are not eliminated because those segments would need to purchase electricity from another source if it were not provided by the Utilities and the profit on such sales is nominal. Sales from Hamakua Energy, LLC (Hamakua Energy) to Hawaii Electric Light (a regulated affiliate) are eliminated in consolidation.

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