Hawaiian Electric Industries Inc. (HE) Financial Statements (2024 and earlier)

Company Profile

Business Address 1001 BISHOP STREET, SUITE 2900
HONOLULU, HI 96813
State of Incorp. HI
Fiscal Year End December 31
Industry (SIC) 4911 - Electric Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments680200306341197 
Cash and cash equivalents680200306341197 
Restricted cash and investments 1556 31 
Deferred costs    (1)  
Total current assets:695205311340228 
Noncurrent Assets
Operating lease, right-of-use asset95116122153199
Property, plant and equipment6,1505,6875,3925,2665,1104,830
Intangible assets, net (including goodwill)828282828282
Goodwill828282828282
Total noncurrent assets:6,3275,8855,5975,5015,3914,912
Other undisclosed assets10,22210,1949,9159,1638,1278,192
TOTAL ASSETS:17,24416,28415,82315,00413,74513,104
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt  454142219364184
Total current liabilities:  454142219364184
Noncurrent Liabilities
Liabilities, other than long-term debt298262385395379 
Deferred income tax liabilities298262385395379
Total noncurrent liabilities:298262385395379 
Other undisclosed liabilities14,56713,33112,87112,01810,68710,723
Total liabilities:14,86514,04713,39712,63211,43110,907
Temporary equity, carrying amount343434343434
Equity
Equity, attributable to parent, including:2,3452,2022,3912,3382,2802,162
Accumulated other comprehensive loss(289)(336)(53)(1)(20)(51)
Retained earnings927846758660622544
Other undisclosed equity, attributable to parent1,7071,6931,6851,6781,6781,669
Total equity:2,3452,2022,3912,3382,2802,162
TOTAL LIABILITIES AND EQUITY:17,24416,28415,82315,00413,74513,104

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues3,6823,7422,8502,5802,8752,861
Cost of revenue(3,313)(3,349)(2,455)(2,260)(2,516)(2,520)
Gross profit:369393395319359341
Operating expenses(16)(12)(9)(8)(10)(8)
Operating income:353381386311349333
Nonoperating income2915156911
Investment income, nonoperating9     
Public utilities, allowance for funds used during construction, capitalized cost of equity15111091211
Net periodic defined benefits expense (reversal of expense), excluding service cost component546(3)(3) 
Interest and debt expense (208)(117)(99)(100)(109)(104)
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income from continuing operations before equity method investments, income taxes:173279302217249240
Other undisclosed income from continuing operations before income taxes72259232314
Income from continuing operations before income taxes:246304311241271254
Income tax expense(45)(61)(63)(41)(52)(51)
Income from continuing operations:201243248200220204
Income before gain (loss) on sale of properties:248200220204
Net income:201243248200220204
Net loss attributable to noncontrolling interest   (2)(2)(2)(2)
Net income attributable to parent:201243246198218202
Preferred stock dividends and other adjustments(2)(2)    
Net income available to common stockholders, diluted:199241246198218202

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:201243248200220204
Other comprehensive loss (4)(65)(53)   
Other undisclosed comprehensive loss      
Comprehensive income:197178195200220204
Other undisclosed comprehensive income (loss), net of tax, attributable to parent49(220)(0)1729(11)
Comprehensive income (loss), net of tax, attributable to parent:246(42)195217248193

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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