Hawaiian Electric Industries Inc. (HE) Financial Statements (2025 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 thousands)

12/31/2024
Q4
9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,159,635550,408485,192679,546667,129314,284
Cash and cash equivalent1,159,635550,408485,192679,546667,129314,284
Restricted cash and investments   15,000  
Receivables      
Regulatory asset      
Other current assets      
Total current assets:1,159,635550,408485,192694,546667,129314,284
Noncurrent Assets
Operating lease, right-of-use asset84,64586,81991,18294,90599,466105,030
Property, plant and equipment6,296,0886,298,7216,183,5036,150,1265,917,3425,868,408
Intangible assets, net (including goodwill)   82,19082,19082,19082,190
Goodwill   82,19082,19082,19082,190
Regulated entity, other noncurrent assets      
Other noncurrent assets      
Total noncurrent assets:6,380,7336,385,5406,356,8756,327,2216,098,9986,055,628
Other undisclosed assets 10,190,86010,119,46610,081,14110,222,05410,225,69110,149,397
TOTAL ASSETS:17,731,22817,055,41416,923,20817,243,82116,991,81816,519,309
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities      
Accounts payable      
Debt     46,212
Regulatory liability      
Other liabilities      
Total current liabilities:     46,212
Noncurrent Liabilities
Long-term debt and lease obligation      
Finance lease, liability      
Liabilities, other than long-term debt  299,012297,954258,942272,988
Deferred income tax liabilities   299,012297,954258,942272,988
Liability, pension and other postretirement and postemployment benefits      
Regulatory liability      
Other liabilities      
Operating lease, liability      
Total noncurrent liabilities:  299,012297,954258,942272,988
Other undisclosed liabilities16,119,89415,935,84814,212,52314,566,73314,474,22913,916,439
Total liabilities:16,119,89415,935,84814,511,53514,864,68714,733,17114,235,639
Temporary equity, including noncontrolling interest34,29334,29334,29334,29334,29334,293
Equity
Equity, attributable to parent, including:1,577,0411,085,2732,377,3802,344,8412,224,3542,249,377
Accumulated other comprehensive income (loss)(258,197)(297,557)(299,151)(289,350)(358,024)(323,149)
Retained earnings (accumulated deficit)(431,044)(326,642)968,842926,720877,931876,268
Other undisclosed equity, attributable to parent2,266,2821,709,4721,707,6891,707,4711,704,4471,696,258
Total equity:1,577,0411,085,2732,377,3802,344,8412,224,3542,249,377
TOTAL LIABILITIES AND EQUITY:17,731,22817,055,41416,923,20817,243,82116,991,81816,519,309

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

12/31/2024
Q4
9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
Revenues938,383897,360897,158956,371901,873895,685
Cost of revenue(1,029,631)(2,614,535)(819,439)(857,194)(824,362)(798,806)
Gross profit:(91,248)(1,717,175)77,71999,17777,51196,879
Operating expenses(35,300)(1,800)(1,300)(8,181)(2,400)(3,900)
Operating income (loss):(126,548)(1,718,975)76,41990,99675,11192,979
Nonoperating income8,0687,7518,05514,4035,2564,925
Investment income, nonoperating3,6623,1343,133   
Public utilities, allowance for funds used during construction, capitalized cost of equity3,3003,3363,640 4,0003,772
Net periodic defined benefits expense (reversal of expense), excluding service cost component1,1061,2811,282 1,2561,153
Other undisclosed loss from continuing operations before equity method investments, income taxes   (208,329)  
Income (loss) from continuing operations before equity method investments, income taxes:(118,480)(1,711,224)84,474(102,930)80,36797,904
Other undisclosed income (loss) from continuing operations before income taxes(30,754)(31,056)(30,205)159,850(31,257)(28,537)
Income (loss) from continuing operations before income taxes:(149,234)(1,742,280)54,26956,92049,11069,367
Income tax expense (benefit)45,303447,269(11,674)(7,658)(7,521)(14,284)
Net income (loss):(103,931)(1,295,011)42,59549,26241,58955,083
Other undisclosed net loss attributable to parent      
Net income (loss) attributable to parent:(103,931)(1,295,011)42,59549,26241,58955,083
Preferred stock dividends and other adjustments(471)(473)(473)(473)(471)(473)
Net income (loss) available to common stockholders, diluted:(104,402)(1,295,484)42,12248,78941,11854,610

Comprehensive Income ($ in thousands)

12/31/2024
Q4
9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
Net income (loss):(103,931)(1,295,011)42,59549,26241,58955,083
Other undisclosed comprehensive loss   (3,778)  
Comprehensive income (loss):(103,931)(1,295,011)42,59545,48441,58955,083
Other undisclosed comprehensive income (loss), net of tax, attributable to parent38,8891,121(10,274)71,979(35,346)(8,082)
Comprehensive income (loss), net of tax, attributable to parent:(65,042)(1,293,890)32,321117,4636,24347,001

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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