HAWEL · As filed with the SEC
Hawaiian Electric balance sheet, 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 Balance Sheets · USD thousands
| USD thousands | FY2025 Dec 31, 2025 | FY2024 Dec 31, 2024 | FY2023 Dec 31, 2023 | FY2022 Dec 31, 2022 | FY2021 Dec 31, 2021 | FY2020 Dec 31, 2020 | FY2019 Dec 31, 2019 | FY2018 Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Cash and cash equivalents | — | — | — | — | 305,551 | 341,421 | 196,813 | 169,208 |
| Current assets | ||||||||
| Cash and cash equivalents | 501,778 | 750,535 | 679,546 | 199,877 | — | — | — | — |
| Restricted cash | — | — | 15,028 | 5,050 | 5,911 | 17,558 | 30,872 | — |
| Accounts receivable and unbilled revenues, net | — | — | 575,176 | 511,903 | 344,213 | 281,216 | 300,794 | 325,672 |
| Available-for-sale investment securities, at fair value | — | — | — | — | — | 1,970,417 | 1,232,826 | 1,388,533 |
| Held-to-maturity investment securities, at amortized cost | — | — | — | — | — | 226,947 | 139,451 | 141,875 |
| Available-for-sale investment securities, at fair value | — | — | 1,136,439 | 1,429,667 | 2,574,618 | — | — | — |
| Held-to-maturity investment securities, at amortized cost | — | — | 1,201,314 | 1,251,747 | 522,270 | — | — | — |
| Stock in Federal Home Loan Bank, at cost | — | — | 14,728 | 26,560 | 10,000 | 8,680 | 8,434 | 9,958 |
| Loans held for investment, net | — | — | — | — | — | — | 5,067,821 | 4,790,902 |
| Loans and leases receivable before fees, gross | — | — | — | — | — | 5,232,642 | — | — |
| Loans held for investment, net | — | — | 6,106,438 | 5,906,690 | 5,139,984 | — | — | — |
| Loans held for sale, at lower of cost or fair value | — | — | 15,168 | 824 | 10,404 | 28,275 | 12,286 | 1,805 |
| Restricted cash | 478,968 | 492,317 | — | — | — | — | — | — |
| Accounts receivable and unbilled revenues, net | 491,526 | 457,171 | — | — | — | — | — | — |
| Regulatory assets | 50,039 | 53,895 | — | — | — | — | — | — |
| Other | 305,999 | 380,408 | — | — | — | — | — | — |
| Total current assets | — | 2,134,326 | — | — | — | — | — | — |
| Assets held for sale | 56,266 | — | — | — | — | — | — | — |
| Total current assets | 1,884,576 | — | — | — | — | — | — | — |
| Noncurrent assets: | ||||||||
| Property, plant and equipment, net | ||||||||
| Land | 54,596 | 63,537 | 106,999 | 109,381 | 102,910 | 103,428 | 100,161 | 102,925 |
| Plant and equipment | 8,730,645 | 8,634,124 | 8,695,942 | 8,427,748 | 8,085,793 | 7,851,185 | 7,545,083 | 7,118,709 |
| Right-of-use assets - finance lease | 539,485 | 448,527 | 342,834 | 49,370 | — | — | — | — |
| Construction in progress | 382,147 | 366,412 | 322,110 | 293,048 | 231,495 | 214,266 | 229,953 | 267,714 |
| Property, plant and equipment, gross | 9,706,873 | 9,512,600 | 9,467,885 | 8,879,547 | 8,420,198 | 8,168,879 | 7,875,197 | 7,489,348 |
| Less – accumulated depreciation | (3,518,501) | (3,378,282) | (3,317,759) | (3,192,545) | (3,028,130) | (2,903,144) | (2,765,569) | (2,659,230) |
| Total property, plant and equipment, net | 6,188,372 | 6,134,318 | 6,150,126 | 5,687,003 | 5,392,068 | 5,265,735 | 5,109,628 | 4,830,118 |
| Operating lease right-of-use-assets | 56,604 | 66,553 | 94,905 | 115,684 | 122,416 | 153,069 | 199,171 | — |
| Regulatory assets | — | — | 294,804 | 242,513 | 565,543 | 766,708 | 715,080 | 833,426 |
| Other | — | — | 877,959 | 824,536 | 747,469 | 629,149 | 649,885 | 530,364 |
| Goodwill | — | — | 82,190 | 82,190 | 82,190 | 82,190 | 82,190 | 82,190 |
| Regulatory assets | 258,076 | 227,424 | — | — | — | — | — | — |
| Defined benefit pension and other postretirement benefit plans asset | 219,211 | — | — | — | — | — | — | — |
| Other | 316,040 | 368,795 | — | — | — | — | — | — |
| Total noncurrent assets | — | 6,797,090 | — | — | — | — | — | — |
| Assets of discontinued operations | — | 0 | — | — | — | — | — | — |
| Total noncurrent assets | 7,038,303 | — | — | — | — | — | — | — |
| Total assets | 8,922,879 | 8,931,416 | 17,243,821 | 16,284,244 | 15,822,637 | 15,004,007 | 13,745,251 | 13,104,051 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | — | — | 247,462 | 251,460 | 205,544 | 182,347 | 220,633 | 214,773 |
| Interest and dividends payable | — | — | 51,206 | 21,333 | 19,889 | 23,547 | 24,941 | 28,254 |
| Deposit liabilities | — | — | 8,145,778 | 8,169,696 | 8,172,212 | 7,386,957 | 6,271,902 | 6,158,852 |
| Short-term borrowings—other than bank | — | — | 0 | 172,568 | 53,998 | 129,379 | 185,710 | 73,992 |
| Other bank borrowings | — | — | 750,000 | 695,120 | 88,305 | 89,670 | 115,110 | 110,040 |
| Accounts payable | 219,062 | 203,452 | — | — | — | — | — | — |
| Interest and dividends payable | 31,458 | 27,203 | — | — | — | — | — | — |
| Short-term borrowings | 0 | 48,623 | — | — | — | — | — | — |
| Current portion of long-term debt, net | 124,959 | 109,171 | — | — | — | — | — | — |
| Regulatory liabilities | 51,997 | 26,568 | — | — | — | — | — | — |
| Wildfire tort-related claims | 530,000 | 478,750 | — | — | — | — | — | — |
| Other | 410,458 | 430,824 | — | — | — | — | — | — |
| Total current liabilities | — | 1,324,591 | — | — | — | — | — | — |
| Liabilities held for sale | 59,803 | — | — | — | — | — | — | — |
| Total current liabilities | 1,427,737 | — | — | — | — | — | — | — |
| Noncurrent liabilities: | ||||||||
| Long-term debt, net | 2,285,016 | 2,690,387 | 2,842,429 | 2,384,980 | 2,321,937 | 2,119,129 | 1,964,365 | 1,879,641 |
| Deferred income taxes | — | 0 | 297,954 | 262,462 | 384,760 | 395,089 | 379,324 | 372,518 |
| Operating lease liabilities | — | — | 103,900 | 126,604 | 136,760 | 160,432 | 199,571 | — |
| Finance lease liabilities | — | — | 339,040 | 48,709 | — | — | — | — |
| Regulatory liabilities | — | — | 1,150,690 | 1,055,650 | 996,768 | 959,786 | 972,310 | 950,236 |
| Defined benefit pension and other postretirement benefit plans liability | — | — | 82,879 | 71,813 | 348,072 | 567,438 | 513,287 | 538,384 |
| Other | — | — | 853,349 | 787,057 | 669,215 | 618,438 | 583,545 | 580,788 |
| Operating lease liabilities | 43,278 | 56,523 | — | — | — | — | — | — |
| Finance lease liabilities | 505,590 | 426,598 | — | — | — | — | — | — |
| Regulatory liabilities | 1,392,147 | 1,217,515 | — | — | — | — | — | — |
| Defined benefit plans liability | 23,656 | 23,213 | — | — | — | — | — | — |
| Wildfire tort-related claims | 1,436,250 | 1,436,250 | — | — | — | — | — | — |
| Other | 203,286 | 242,957 | — | — | — | — | — | — |
| Total noncurrent liabilities | — | 6,093,443 | — | — | — | — | — | — |
| Liabilities of discontinued operations | — | 0 | — | — | — | — | — | — |
| Total noncurrent liabilities | 5,889,223 | — | — | — | — | — | — | — |
| Total liabilities | 7,316,960 | 7,418,034 | 14,864,687 | 14,047,452 | 13,397,460 | 12,632,212 | 11,430,698 | 10,907,478 |
| Preferred stock of subsidiaries - not subject to mandatory redemption | 0 | 34,293 | 34,293 | 34,293 | 34,293 | 34,293 | 34,293 | 34,293 |
| Shareholders’ equity | ||||||||
| Preferred stock, no par value, authorized 10,000,000 shares; issued: none | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Common stock, no par value, authorized 400,000,000 shares; issued and outstanding: 172,620,476 shares and 172,465,608 shares at December 31, 2025 and 2024, respectively | 2,268,187 | 2,264,544 | 1,707,471 | 1,692,697 | 1,685,496 | 1,678,368 | 1,678,257 | 1,669,267 |
| Retained earnings (deficit) | (665,606) | (788,916) | 926,720 | 845,830 | 757,921 | 660,398 | 622,042 | 543,623 |
| Accumulated other comprehensive income, net of taxes | ||||||||
| Net unrealized losses on securities | — | 0 | (282,963) | (328,904) | (32,037) | 19,986 | 2,481 | (24,423) |
| Unrealized gains on derivatives | 600 | 2,120 | 1,638 | 1,991 | (3,638) | (3,363) | (1,613) | (436) |
| Retirement benefit plans | 2,738 | 1,341 | (8,025) | (9,115) | (16,858) | (17,887) | (20,907) | (25,751) |
| Accumulated other comprehensive income, net of taxes | 3,338 | 3,461 | (289,350) | (336,028) | (52,533) | (1,264) | (20,039) | (50,610) |
| Total shareholders’ equity | 1,605,919 | 1,479,089 | 2,344,841 | 2,202,499 | 2,390,884 | 2,337,502 | 2,280,260 | 2,162,280 |
| Total capitalization and liabilities | 8,922,879 | 8,931,416 | 17,243,821 | 16,284,244 | 15,822,637 | 15,004,007 | 13,745,251 | 13,104,051 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.