HAWEL · As filed with the SEC
Hawaiian Electric income statement, by fiscal year
The statement as Hawaiian Electric presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Income · USD thousands, except per-share amounts; shares in thousands
| USD thousands, except per-share amounts; shares in thousands | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Total revenues | 3,086,896 | 3,219,850 | 3,682,166 | 3,741,985 | 2,850,379 | 2,579,775 |
| Operating Segments - Electric utility | — | 3,206,700 | — | — | — | — |
| Other | — | 13,150 | — | — | — | — |
| Electric utility | 3,071,182 | — | 3,269,521 | 3,408,587 | 2,539,636 | 2,265,320 |
| Bank | — | — | 394,663 | 321,068 | 306,398 | 313,511 |
| Other | 15,714 | — | 17,982 | 12,330 | 4,345 | 944 |
| Expenses | ||||||
| Total expenses | 2,851,574 | 4,926,610 | 3,329,562 | 3,360,912 | 2,464,313 | 2,268,282 |
| Operating Segments - Electric utility | — | 4,818,558 | — | — | — | — |
| Other | — | 108,052 | — | — | — | — |
| Electric utility | 2,791,396 | — | 2,967,363 | 3,109,396 | 2,260,078 | 1,996,770 |
| Bank | — | — | 317,051 | 219,550 | 178,195 | 251,702 |
| Other | 60,178 | — | 45,148 | 31,966 | 26,040 | 19,810 |
| Operating income (loss) | ||||||
| Operating income (loss) | 235,322 | (1,706,760) | 352,604 | 381,073 | 386,066 | 311,493 |
| Operating Segments - Electric utility | — | (1,611,858) | — | — | — | — |
| Other | — | (94,902) | — | — | — | — |
| Electric utility | 279,786 | — | 302,158 | 299,191 | 279,558 | 268,550 |
| Bank | — | — | 77,612 | 101,518 | 128,203 | 61,809 |
| Other | (44,464) | — | (27,166) | (19,636) | (21,695) | (18,866) |
| Retirement defined benefits credit—other than service costs | 3,482 | 3,754 | 4,768 | 4,411 | 5,848 | (3,210) |
| Interest expense, net – other than on deposit liabilities and other bank borrowings | — | — | (125,532) | (103,402) | (94,363) | (88,694) |
| Interest expense, net | (117,334) | (127,207) | — | — | — | — |
| Operating Segments - Electric utility | — | (82,082) | — | — | — | — |
| Other | — | (45,125) | — | — | — | — |
| Allowance for borrowed funds used during construction | 5,893 | 5,470 | 5,201 | 3,416 | 3,250 | 2,992 |
| Allowance for equity funds used during construction | 15,013 | 13,786 | 15,164 | 10,574 | 9,534 | 8,768 |
| Interest income | 36,929 | 19,362 | 9,105 | — | 0 | — |
| Electric utility | — | — | 6,454 | — | — | — |
| Bank | — | — | 0 | — | — | — |
| Other | — | — | 2,651 | — | — | — |
| Operating Segments - Electric utility | — | 6,633 | — | — | — | — |
| Other | — | 12,729 | — | — | — | — |
| Gain (loss) on sales of equity-method investments | — | 0 | (15,609) | 8,123 | 528 | 9,275 |
| Loss on sales of subsidiaries and equity-method investments and impairment loss on assets sold and held for sale | (12,376) | — | — | — | — | — |
| Income (loss) from continuing operations before income taxes | 166,929 | (1,791,595) | 245,701 | 304,195 | 310,863 | 240,624 |
| Electric utility | — | — | 247,140 | 240,600 | 223,785 | 211,753 |
| Bank | — | — | 63,401 | 102,241 | 130,559 | 69,271 |
| Other | — | — | (64,840) | (38,646) | (43,481) | (40,400) |
| Operating Segments - Electric utility | — | (1,663,914) | — | — | — | — |
| Other | — | (127,681) | — | — | — | — |
| Income tax expense (benefit) | 40,648 | (470,962) | 44,573 | 61,167 | 62,807 | 40,910 |
| Electric utility | — | — | 51,193 | 49,676 | 44,148 | 40,418 |
| Bank | — | — | 10,039 | 22,252 | 29,325 | 11,688 |
| Other | — | — | (16,659) | (10,761) | (10,666) | (11,196) |
| Net income | — | — | 201,128 | 243,028 | 248,056 | 199,714 |
| Electric utility | — | — | 195,947 | 190,924 | 179,637 | 171,335 |
| Bank | — | — | 53,362 | 79,989 | 101,234 | 57,583 |
| Other | — | — | (48,181) | (27,885) | (32,815) | (29,204) |
| Operating Segments - Electric utility | — | (439,547) | — | — | — | — |
| Other | — | (31,415) | — | — | — | — |
| Income (loss) from continuing operations | 126,281 | (1,320,633) | — | — | — | — |
| Operating Segments - Electric utility | — | (1,224,367) | — | — | — | — |
| Other | — | (96,266) | — | — | — | — |
| Dividends on and loss on redemption of preferred stock of Hawaiian Electric | 3,161 | 1,890 | 1,890 | 1,890 | 1,890 | 1,890 |
| Electric utility | — | — | 1,995 | 1,995 | 1,995 | 1,995 |
| Bank | — | — | 0 | 0 | 0 | 0 |
| Other | — | — | (105) | (105) | (105) | (105) |
| Operating Segments - Electric utility | — | 1,995 | — | — | — | — |
| Other | — | (105) | — | — | — | — |
| Income (loss) from continuing operations for common stock | 123,120 | (1,322,523) | — | — | — | — |
| Operating Segments - Electric utility | — | (1,226,362) | — | — | — | — |
| Other | — | (96,161) | — | — | — | — |
| Income (loss) from discontinued operations | 0 | (103,486) | — | — | — | — |
| Net income (loss) for common stock | 123,120 | (1,426,009) | 199,238 | 241,138 | 246,166 | 197,824 |
| Electric utility | — | — | 193,952 | 188,929 | 177,642 | 169,340 |
| Bank | — | — | 53,362 | 79,989 | 101,234 | 57,583 |
| Other | — | — | (48,076) | (27,780) | (32,710) | (29,099) |
| Continuing operations - Basic earnings (loss) per common share (in dollars per share) | 0.71 | (10.42) | — | — | — | — |
| Discontinued operations - Basic earnings (loss) per common share (in dollars per share) | 0.00 | (0.81) | — | — | — | — |
| Basic earnings (loss) per common share (in dollars per share) | 0.71 | (11.23) | 1.82 | 2.20 | 2.25 | 1.81 |
| Continuing operations - Diluted earnings (loss) per common share (in dollars per share) | 0.71 | (10.42) | — | — | — | — |
| Discontinued operations - Diluted earnings (loss) per common share (in dollars per share) | 0.00 | (0.81) | — | — | — | — |
| Diluted earnings (loss) per common share (in dollars per share) | 0.71 | (11.23) | 1.81 | 2.20 | 2.25 | 1.81 |
| Weighted-average number of common shares outstanding (in shares) | 172,553 | 126,927 | 109,739 | 109,434 | 109,282 | 109,140 |
| Net effect of potentially dilutive shares (share-based compensation programs) (in shares) | 464 | 0 | 299 | 344 | 298 | 216 |
| Weighted-average shares assuming dilution (in shares) | 173,017 | 126,927 | 110,038 | 109,778 | 109,580 | 109,356 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.