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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments200306341197  
Cash and cash equivalents200306341197  
Restricted cash and investments 56 31  
Deferred costs   (1)   
Total current assets:205311340228  
Noncurrent Assets
Operating lease, right-of-use asset116122153199
Property, plant and equipment5,6875,3925,2665,1104,8305,026
Intangible assets, net (including goodwill)828282828282
Goodwill828282828282
Total noncurrent assets:5,8855,5975,5015,3914,9125,108
Other undisclosed assets10,1949,9159,1638,1278,1927,992
TOTAL ASSETS:16,28415,82315,00413,74513,10413,100
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 454142219364184309
Total current liabilities: 454142219364184309
Noncurrent Liabilities
Liabilities, other than long-term debt262385395379  
Deferred income tax liabilities262385395379
Total noncurrent liabilities:262385395379  
Other undisclosed liabilities13,33112,87112,01810,68710,72310,659
Total liabilities:14,04713,39712,63211,43110,90710,968
Temporary equity, carrying amount343434343434
Equity
Equity, attributable to parent, including:2,2022,3912,3382,2802,1622,097
Accumulated other comprehensive loss(336)(53)(1)(20)(51)(42)
Retained earnings846758660622544477
Other undisclosed equity, attributable to parent1,6931,6851,6781,6781,6691,662
Total equity:2,2022,3912,3382,2802,1622,097
TOTAL LIABILITIES AND EQUITY:16,28415,82315,00413,74513,10413,100

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues3,7422,8502,5802,8752,8612,556
Cost of revenue(3,349)(2,455)(2,260)(2,516)(2,520)(2,212)
Gross profit:393395319359341344
Operating expenses(12)(9)(8)(10)(8)(5)
Operating income:381386311349333338
Nonoperating income1515691112
Public utilities, allowance for funds used during construction, capitalized cost of equity11109121112
Net periodic defined benefits expense (reversal of expense), excluding service cost component46(3)(3) 
Interest and debt expense (117)(99)(100)(109)(104)(91)
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income from continuing operations before equity method investments, income taxes:279302217249240260
Other undisclosed income from continuing operations before income taxes25923231417
Income from continuing operations before income taxes:304311241271254277
Income tax expense(61)(63)(41)(52)(51)(109)
Income from continuing operations:243248200220204167
Income before gain (loss) on sale of properties:248200220204167
Net income:243248200220204167
Net loss attributable to noncontrolling interest  (2)(2)(2)(2)(2)
Net income attributable to parent:243246198218202165
Preferred stock dividends and other adjustments(2)     
Net income available to common stockholders, diluted:241246198218202165

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:243248200220204167
Other comprehensive loss (65)(53)    
Other undisclosed comprehensive loss      
Comprehensive income:178195200220204167
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(220)(0)1729(11)(3)
Comprehensive income (loss), net of tax, attributable to parent:(42)195217248193164

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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