HAWEL · As filed with the SEC
Hawaiian Electric cash flow 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 Cash Flows · USD thousands
| USD 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 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities | ||||||||
| Net income | — | — | — | — | 248,056 | 199,714 | 219,772 | 203,664 |
| Net income (loss) | 126,281 | (1,424,119) | 201,128 | 243,028 | — | — | — | — |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities-continuing operations | ||||||||
| Loss (income) from discontinued operations | 0 | 103,486 | — | — | — | — | — | — |
| Depreciation of property, plant and equipment | 260,024 | 261,701 | 267,691 | 256,069 | 246,158 | 238,114 | 229,858 | 214,036 |
| Other amortization | 38,895 | 31,832 | 43,106 | 38,772 | 32,544 | 52,664 | 48,255 | 41,593 |
| Provision for credit losses | — | — | — | — | (25,825) | 50,811 | 23,480 | 14,745 |
| Provision for credit losses | — | — | 10,357 | 2,037 | — | — | — | — |
| Loans originated, held for sale | — | — | (51,872) | (128,195) | (340,986) | (564,525) | (285,042) | (109,537) |
| Proceeds from sale of loans, held for sale | — | — | 49,162 | 136,504 | 364,848 | 567,652 | 277,119 | 112,182 |
| Gain on sale of real estate, held for sale | — | — | — | — | 0 | 0 | (10,762) | — |
| Gain on sale of investment securities, net | — | — | — | (8,123) | (528) | (9,275) | — | — |
| Loss (gains) on sale of equity-method investment | — | 0 | 15,609 | — | — | — | — | — |
| Gain on sale of loans | — | — | (910) | (1,692) | (9,305) | (23,734) | — | — |
| Loss on sale of subsidiaries and equity-method investment and impairment loss on assets sold and held for sale | 12,376 | — | — | — | — | — | — | — |
| Deferred income tax expense (benefit) | (10,630) | (486,188) | 5,268 | (32,502) | (5,398) | (1,706) | (15,085) | (9,368) |
| Share-based compensation expense | 3,426 | 3,591 | 10,532 | 10,366 | 9,135 | 5,810 | 9,986 | 7,792 |
| Allowance for equity funds used during construction | (15,013) | (13,786) | (15,164) | (10,574) | (9,534) | (8,768) | (11,987) | (10,877) |
| Asset impairment | — | 39,642 | — | — | — | — | — | — |
| Other | (6,359) | (13,790) | (4,342) | (7,580) | (7,060) | 1,366 | 10,822 | (4,219) |
| Changes in assets and liabilities | ||||||||
| Decrease (increase) in accounts receivable and unbilled revenues, net | (51,351) | 96,700 | (75,038) | (151,551) | (73,811) | 2,533 | 26,083 | (64,321) |
| Decrease (increase) in fuel oil stock | (15,579) | 49,361 | 43,388 | (87,569) | (45,819) | 34,202 | (11,493) | 7,054 |
| Increase in materials and supplies | (14,458) | (4,177) | (34,887) | — | — | — | — | — |
| Increase in regulatory assets | (30,462) | (22,743) | (10,613) | 34,600 | (13,874) | 1,007 | 71,262 | 9,252 |
| Increase in regulatory liabilities | 96,043 | 48,433 | 54,470 | 44,888 | 15,358 | (16,562) | — | — |
| Increase in accounts, interest and dividends payable | 7,032 | 6,862 | 60,013 | 28,169 | 9,925 | (20,068) | (3,054) | 21,528 |
| Change in prepaid and accrued income taxes, tax credits and utility revenue taxes | (4,563) | (25,525) | (13,247) | 121,636 | 41,331 | (35,610) | (27,538) | 29,429 |
| Change in defined benefit pension and other postretirement benefit plans asset/liability | (8,788) | (9,358) | (8,872) | (5,191) | (6,660) | (2,029) | (4,482) | 20,871 |
| Increase in wildfire related claims | 47,750 | 1,840,000 | — | — | — | — | — | — |
| Change in other assets and liabilities | (43,551) | (53,812) | 5,692 | (28,616) | (52,882) | (42,189) | (34,724) | 15,488 |
| Net cash provided by operating activities-continuing operations | 391,073 | 428,110 | — | — | — | — | — | — |
| Net cash provided by operating activities-discontinued operations | 0 | 59,371 | — | — | — | — | — | — |
| Net cash provided by operating activities | 391,073 | 487,481 | 551,471 | 454,476 | 375,673 | 429,407 | 512,470 | 499,312 |
| Cash flows from investing activities | ||||||||
| Available-for-sale investment securities purchased | — | — | 0 | (366,177) | (1,464,644) | (1,361,594) | (108,088) | (224,335) |
| Principal repayments on available-for-sale investment securities | — | — | 148,693 | 342,354 | 583,238 | 478,351 | 272,949 | 218,930 |
| Proceeds from sale of available-for-sale investment securities | — | — | 170,481 | 0 | 197,354 | 169,157 | 19,810 | 0 |
| Purchases of held-to-maturity investment securities | — | — | 0 | 0 | (349,579) | (146,738) | (13,057) | (103,184) |
| Proceeds from repayments or maturities of held-to-maturity investment securities | — | — | 67,360 | 29,432 | 53,654 | 59,894 | 15,505 | 5,720 |
| Purchase of stock from Federal Home Loan Bank | — | — | (91,200) | (173,768) | (33,022) | (27,350) | (95,636) | (28,292) |
| Redemption of stock from Federal Home Loan Bank | — | — | 103,032 | 157,208 | 31,702 | 27,104 | 97,160 | 28,040 |
| Net increase in loans held for investment | — | — | — | — | — | (229,311) | (300,210) | (189,352) |
| Proceeds from sale of commercial loans | — | — | — | — | — | 0 | 0 | 7,149 |
| Proceeds from sale of real estate acquired in settlement of loans | — | — | — | — | — | — | — | 589 |
| Net decrease (increase) in loans held for investment | — | — | (285,493) | (661,492) | 72,489 | — | — | — |
| Proceeds from sale of commercial loans | — | — | 94,665 | — | — | — | — | — |
| Proceeds from sale of residential loans | — | — | 0 | 0 | 59,844 | — | — | — |
| Purchase of loans held for investment | — | — | (26,195) | (102,504) | — | — | — | — |
| Proceeds from sale of real estate held for sale | — | — | 595 | 3,806 | 0 | 0 | 21,060 | 0 |
| Capital expenditures | — | — | — | — | (314,524) | (383,895) | (457,520) | — |
| Capital expenditures | (341,202) | (344,251) | (448,296) | (344,037) | — | — | — | (537,369) |
| Contributions in aid of construction | — | — | — | — | — | — | — | 30,599 |
| Proceeds from sale of low income housing investments | — | — | — | 0 | 0 | 6,725 | — | — |
| Contributions to low income housing investments | — | — | (1,360) | (844) | (16,131) | (9,403) | (6,974) | (14,499) |
| Acquisition of business | — | 0 | 0 | (25,706) | — | — | 0 | 0 |
| Proceeds from sale of subsidiaries | 13,781 | — | — | — | — | — | — | — |
| Other, net | 5,246 | 10,330 | 10,319 | 13,046 | 27 | 3,412 | 13,292 | 13,945 |
| Net cash used in investing activities-continuing operations | (322,175) | (333,921) | — | — | — | — | — | — |
| Net cash provided by investing activities-discontinued operations | 0 | 592,239 | — | — | — | — | — | — |
| Net cash used in investing activities | (322,175) | 258,318 | (257,399) | (1,128,682) | (1,179,592) | (1,413,648) | (541,709) | (792,059) |
| Cash flows from financing activities | ||||||||
| Net increase (decrease) in deposit liabilities | — | — | (122,228) | (2,516) | 785,255 | 1,115,055 | 113,050 | 165,880 |
| Net decrease in short-term borrowings with original maturities of three months or less | 0 | 0 | (137,650) | 83,652 | (10,493) | (71,219) | 86,718 | (18,999) |
| Proceeds from issuance of short-term debt | 0 | 50,000 | 65,000 | 35,000 | 0 | 165,000 | 75,000 | 25,000 |
| Repayment of short-term debt | (50,000) | 0 | (100,000) | 0 | (65,000) | (150,000) | (50,000) | (50,000) |
| Net increase (decrease) in retail repurchase agreements | — | — | — | — | — | — | — | 26,556 |
| Net increase in other bank borrowings with original maturities of three months or less | — | — | — | — | — | — | 5,070 | 696,000 |
| Net increase (decrease) in other bank borrowings with original maturities of three months or less | — | — | (596,810) | 606,815 | (1,365) | (25,440) | — | — |
| Proceeds from issuance of other bank borrowings | — | — | 1,000,000 | 0 | 0 | 30,000 | — | — |
| Repayment of other bank borrowings | — | — | (250,000) | 0 | 0 | (30,000) | 0 | (701,000) |
| Proceeds from issuance of long-term debt | 510,000 | 5,475 | 625,000 | 227,312 | 285,886 | 415,997 | 289,349 | 250,000 |
| Repayment of long-term debt and funds transferred for repayment of long-term debt | (733,564) | (97,698) | (167,080) | (221,910) | (82,262) | (178,969) | (287,285) | (53,887) |
| Withheld shares for employee taxes on vested share-based compensation | — | — | — | — | (2,006) | (5,700) | (997) | (996) |
| Net proceeds from issuance of common stock | — | — | — | — | — | — | — | 0 |
| Withheld shares for employee taxes on vested share-based compensation | (178) | (1,074) | (2,371) | (3,165) | — | — | — | — |
| Net proceeds from issuance of common stock | 0 | 556,612 | 1,223 | — | — | — | — | — |
| Common stock dividends | 0 | 0 | (112,957) | (153,229) | (148,643) | (144,096) | (139,463) | (134,987) |
| Preferred stock dividends of subsidiaries | (1,890) | (1,890) | (1,890) | (1,890) | (1,890) | (1,890) | (1,890) | (1,890) |
| Redemption of preferred stock of subsidiaries | (35,368) | — | — | — | — | — | — | — |
| Other | (20,004) | (13,867) | (4,662) | (2,398) | (3,080) | (3,203) | (1,836) | (1,603) |
| Net cash provided by (used in) financing activities-continuing operations | (331,004) | 497,558 | — | — | — | — | — | — |
| Net cash used in financing activities-discontinued operations | 0 | (342,853) | — | — | — | — | — | — |
| Net cash provided by (used in) financing activities | (331,004) | 154,705 | 195,575 | 567,671 | 756,402 | 1,115,535 | 87,716 | 200,074 |
| Net decrease in cash and equivalents | — | — | — | — | — | — | — | (92,673) |
| Cash and cash equivalents, January 1 | — | — | — | — | — | — | 169,208 | 261,881 |
| Cash and cash equivalents, December 31 | — | — | — | — | — | — | — | 169,208 |
| Net increase (decrease) in cash, cash equivalents and restricted cash, including cash from discontinued operations | (262,106) | 900,504 | 489,647 | (106,535) | (47,517) | 131,294 | 58,477 | — |
| Cash, cash equivalents and restricted cash from continuing operations, January 1 | 1,242,852 | 694,574 | 204,927 | 311,462 | 358,979 | 227,685 | 169,208 | — |
| Cash, cash equivalents and restricted cash, including cash from discontinued operations, December 31 | — | 1,595,078 | 694,574 | 204,927 | 311,462 | 358,979 | 227,685 | — |
| Cash, cash equivalents and restricted cash from discontinued operations, January 1 | 352,226 | — | — | — | — | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.