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Condensed Consolidated Statements of Income (unaudited) - HECO - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Revenues $ 746,392 $ 795,417 $ 1,490,462 $ 1,587,431
Expenses        
Wildfire tort-related claims (Note 2)       1,712,000
Total expenses 692,645 2,457,006 1,374,295 3,198,133
Operating income (loss) 53,747 (1,661,589) 116,167 (1,610,702)
Allowance for equity funds used during construction 3,702 3,336 7,287 6,976
Retirement defined benefits credit—other than service costs 919 1,001 1,836 2,002
Allowance for borrowed funds used during construction 1,462 1,344 2,879 2,730
Interest income 7,579 3,134 20,202 6,267
Income (loss) before income taxes 39,975 (1,685,174) 73,514 (1,656,718)
Income tax expense (benefit) 13,417 (435,950) 19,812 (429,155)
Net income (loss) attributable to Hawaiian Electric     53,702 (1,252,416)
Preferred stock dividends of Hawaiian Electric 473 473 946 946
Net income (loss) for common stock 26,085 (1,295,484) 52,756 (1,253,362)
Hawaiian Electric Company, Inc. and Subsidiaries        
Revenues        
Revenues 742,482 792,331 1,480,848 1,580,909
Expenses        
Fuel oil 210,587 258,652 449,308 542,948
Purchased power 174,963 181,328 321,680 341,145
Other operation and maintenance 158,217 147,561 301,325 291,451
Wildfire tort-related claims (Note 2) 0 1,712,000 0 1,712,000
Depreciation 63,974 62,812 127,993 125,624
Taxes, other than income taxes 70,197 74,418 140,061 148,826
Total expenses 677,938 2,436,771 1,340,367 3,161,994
Operating income (loss) 64,544 (1,644,440) 140,481 (1,581,085)
Allowance for equity funds used during construction 3,702 3,336 7,287 6,976
Retirement defined benefits credit—other than service costs 1,052 1,072 2,103 2,144
Interest expense and other charges, net (21,706) (21,417) (44,158) (41,402)
Allowance for borrowed funds used during construction 1,462 1,344 2,879 2,730
Interest income 1,215 1,452 3,196 2,884
Income (loss) before income taxes 50,269 (1,658,653) 111,788 (1,607,753)
Income tax expense (benefit) 10,620 (429,758) 23,824 (418,578)
Net income (loss) 39,649 (1,228,895) 87,964 (1,189,175)
Preferred stock dividends of subsidiaries 229 229 458 458
Net income (loss) attributable to Hawaiian Electric 39,420 (1,229,124) 87,506 (1,189,633)
Preferred stock dividends of Hawaiian Electric 270 270 540 540
Net income (loss) for common stock $ 39,150 $ (1,229,394) $ 86,966 $ (1,190,173)