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Condensed Consolidated Statements of Income (unaudited) - HECO - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues    
Revenues $ 744,070 $ 792,014
Expenses    
Total expenses 681,650 741,127
Operating income 62,420 50,887
Allowance for equity funds used during construction 3,585 3,640
Retirement defined benefits credit—other than service costs 917 1,001
Allowance for borrowed funds used during construction 1,417 1,386
Interest income 12,623 3,133
Income before income taxes 33,539 28,456
Income tax expense 6,395 6,795
Net income attributable to Hawaiian Electric 27,144 42,595
Preferred stock dividends of Hawaiian Electric 473 473
Net income for common stock 26,671 42,122
Hawaiian Electric Company, Inc. and Subsidiaries    
Revenues    
Revenues 738,366 788,578
Expenses    
Fuel oil 238,721 284,296
Purchased power 146,717 159,817
Other operation and maintenance 143,108 143,890
Depreciation 64,019 62,812
Taxes, other than income taxes 69,864 74,408
Total expenses 662,429 725,223
Operating income 75,937 63,355
Allowance for equity funds used during construction 3,585 3,640
Retirement defined benefits credit—other than service costs 1,051 1,072
Interest expense and other charges, net (22,452) (19,985)
Allowance for borrowed funds used during construction 1,417 1,386
Interest income 1,981 1,432
Income before income taxes 61,519 50,900
Income tax expense 13,204 11,180
Net income 48,315 39,720
Preferred stock dividends of subsidiaries 229 229
Net income attributable to Hawaiian Electric 48,086 39,491
Preferred stock dividends of Hawaiian Electric 270 270
Net income for common stock $ 47,816 $ 39,221