Hawaiian Electric Industries (HE) 10-Q 5 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	Apr. 24, 2020
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	1-8503
Entity Tax Identification Number	99-0208097
Entity Incorporation, State or Country Code	HI
Entity Registrant Name	HAWAIIAN ELECTRIC INDUSTRIES INC
Entity Central Index Key	0000354707
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Address, Address Line One	1001 Bishop Street, Suite 2900
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	543-5662
Title of each class	Common Stock, Without Par Value
Trading Symbol	HE
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		109,145,492
Hawaiian Electric Company, Inc. and Subsidiaries
Entity Information [Line Items]
Document Type	10-Q
Entity File Number	1-4955
Entity Tax Identification Number	99-0040500
Entity Incorporation, State or Country Code	HI
Entity Registrant Name	HAWAIIAN ELECTRIC COMPANY INC
Entity Central Index Key	0000046207
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Address, Address Line One	1001 Bishop Street, Suite, 2500
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	543-7771
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,048,783

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues
Total revenues	$ 677,186	$ 661,615
Expenses
Total expenses	617,484	583,678
Operating income (loss)
Total operating income	59,702	77,937
Retirement defined benefits expense—other than service costs	(934)	(763)
Interest expense, net—other than on deposit liabilities and other bank borrowings	(21,775)	(23,123)
Allowance for borrowed funds used during construction	688	1,078
Allowance for equity funds used during construction	2,015	2,910
Income before income taxes	39,696	58,039
Income taxes	5,803	11,878
Net income	33,893	46,161
Preferred stock dividends of subsidiaries	473	473
Net income for common stock	$ 33,420	$ 45,688
Basic earnings per common share (in dollars per share)	$ 0.31	$ 0.42
Diluted earnings per common share (in dollars per share)	$ 0.31	$ 0.42
Weighted-average number of common shares outstanding (in shares)	109,051	108,913
Net effect of potentially dilutive shares (in shares)	314	355
Weighted-average shares assuming dilution (in shares)	109,365	109,268
Hawaiian Electric Company, Inc. and Subsidiaries
Revenues
Total revenues	$ 597,442	$ 578,495
Expenses
Fuel oil	173,221	160,609
Purchased power	139,816	134,445
Other operation and maintenance	127,547	118,130
Depreciation	55,850	53,947
Taxes, other than income taxes	57,050	54,804
Total expenses	553,484	521,935
Operating income (loss)
Total operating income	43,958	56,560
Retirement defined benefits expense—other than service costs	(381)	(703)
Allowance for borrowed funds used during construction	688	1,078
Allowance for equity funds used during construction	2,015	2,910
Interest expense and other charges, net	(16,594)	(17,986)
Income before income taxes	29,686	41,859
Income taxes	5,282	9,234
Net income	24,404	32,625
Preferred stock dividends of subsidiaries	229	229
Net income attributable to Hawaiian Electric	24,175	32,396
Preferred stock dividends of Hawaiian Electric	270	270
Net income for common stock	23,905	32,126
Electric utility
Revenues
Total revenues	597,442	578,495
Expenses
Total expenses	553,484	521,935
Operating income (loss)
Total operating income	43,958	56,560
Income before income taxes	29,686	41,859
Income taxes	5,282	9,234
Net income	24,404	32,625
Preferred stock dividends of subsidiaries	499	499
Net income for common stock	23,905	32,126
Bank
Revenues
Total revenues	79,738	83,052
Expenses
Total expenses	60,335	56,930
Operating income (loss)
Total operating income	19,403	26,122
Income before income taxes	18,969	26,162
Income taxes	3,208	5,323
Net income	15,761	20,839
Preferred stock dividends of subsidiaries	0	0
Net income for common stock	15,761	20,839
Other
Revenues
Total revenues	6	68
Expenses
Total expenses	3,665	4,813
Operating income (loss)
Total operating income	(3,659)	(4,745)
Income before income taxes	(8,959)	(9,982)
Income taxes	(2,687)	(2,679)
Net income	(6,272)	(7,303)
Preferred stock dividends of subsidiaries	(26)	(26)
Net income for common stock	$ (6,246)	$ (7,277)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net income for common stock	$ 33,420	$ 45,688
Net unrealized gains on available-for-sale investment securities:
Net unrealized gains (losses) on available-for-sale investment securities arising during the period, net of (taxes) benefits	19,448	9,439
Derivatives qualifying as cash flow hedges:
Unrealized interest rate hedging losses arising during the period, net of tax benefits	(1,784)	(403)
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	5,706	2,503
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(5,158)	(2,298)
Other comprehensive income, net of taxes	18,212	9,241
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	51,632	54,929
Hawaiian Electric Company, Inc. and Subsidiaries
Net income for common stock	23,905	32,126
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	5,184	2,322
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(5,158)	(2,298)
Other comprehensive income, net of taxes	26	24
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 23,931	$ 32,150

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net unrealized gains (losses) on securities arising during the period, (taxes) benefits	$ (7,120)	$ (3,455)
Unrealized interest rate hedging losses arising during period, tax benefits	619	140
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax benefits	1,986	870
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax expense	1,789	797
Hawaiian Electric Company, Inc. and Subsidiaries
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax benefits	1,798	805
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax expense	$ 1,789	$ 797

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets
Cash and Cash Equivalents, at Carrying Value	$ 205,514	$ 196,813
Restricted Cash and Cash Equivalents	30,902	30,872
Accounts receivable and unbilled revenues, net	303,161	300,794
Available-for-sale investment securities, at fair value	1,340,241	1,232,826
Held-to-maturity investment securities, at amortized cost	134,656	139,451
Stock in Federal Home Loan Bank, at cost	9,760	8,434
Loans held for investment, net	5,103,848	5,067,821
Loans held for sale, at lower of cost or fair value	18,155	12,286
Property, plant and equipment, net of accumulated depreciation	5,150,385	5,109,628
Regulatory assets	698,644	715,080
Other	570,720	649,885
Goodwill	82,190	82,190
Utility property, plant and equipment
Total property, plant and equipment, net	5,150,385	5,109,628
Current assets
Cash and Cash Equivalents, at Carrying Value	205,514	196,813
Other long-term assets
Operating lease right-of-use assets	200,842	199,171
Total assets	13,849,018	13,745,251
Liabilities
Accounts payable	189,563	220,633
Interest and dividends payable	32,588	24,941
Deposit liabilities	6,383,783	6,271,902
Short-term borrowings—other than bank	99,956	185,710
Other bank borrowings	157,605	115,110
Long-term debt, net—other than bank	2,068,092	1,964,365
Deferred income taxes	382,872	379,324
Operating lease liabilities	206,601	199,571
Regulatory liabilities	989,970	972,310
Defined benefit pension and other postretirement benefit plans liability	505,212	513,287
Other	521,978	583,545
Total liabilities	11,538,220	11,430,698
Capitalization
Retained earnings	604,071	622,042
Accumulated other comprehensive loss, net of tax benefits	(1,827)	(20,039)
Total shareholders’ equity	2,276,505	2,280,260
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293	34,293
Commitments and contingencies
Current liabilities
Interest and dividends payable	32,588	24,941
Deferred credits and other liabilities
Deferred income taxes	382,872	379,324
Shareholders’ equity
Preferred stock, no par value, authorized 10,000,000 shares; issued: none	0	0
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 109,145,492 shares and 108,973,328 shares at March 31, 2020 and December 31, 2019, respectively	1,674,261	1,678,257
Retained earnings	604,071	622,042
Accumulated other comprehensive loss, net of tax benefits	(1,827)	(20,039)
Total shareholders’ equity	2,276,505	2,280,260
Total liabilities and shareholders’ equity	13,849,018	13,745,251
Hawaiian Electric Company, Inc. and Subsidiaries
Assets
Cash and Cash Equivalents, at Carrying Value	12,409	11,022
Restricted Cash and Cash Equivalents	30,902	30,872
Property, plant and equipment, net of accumulated depreciation	4,837,644	4,801,977
Utility property, plant and equipment
Land	51,607	51,816
Plant and equipment	7,305,655	7,240,288
Less accumulated depreciation	(2,726,103)	(2,690,157)
Construction in progress	199,529	193,074
Utility property, plant and equipment, net	4,830,688	4,795,021
Nonutility property, plant and equipment, less accumulated depreciation	6,956	6,956
Total property, plant and equipment, net	4,837,644	4,801,977
Current assets
Cash and Cash Equivalents, at Carrying Value	12,409	11,022
Customer accounts receivable, net	158,680	152,790
Accrued unbilled revenues, net	113,780	117,227
Other accounts receivable, net	11,247	11,568
Fuel oil stock, at average cost	89,527	91,937
Materials and supplies, at average cost	61,198	60,702
Prepayments and other	35,907	116,980
Regulatory assets	28,967	30,710
Total current assets	542,617	623,808
Other long-term assets
Operating lease right-of-use assets	177,097	176,809
Regulatory assets	669,677	684,370
Other	108,893	101,718
Total other long-term assets	955,667	962,897
Total assets	6,335,928	6,388,682
Liabilities
Interest and dividends payable	27,941	20,728
Deferred income taxes	380,869	377,150
Capitalization
Common stock ($6 2/3 par value, authorized 50,000,000 shares; outstanding 17,048,783 shares at March 31, 2020 and December 31, 2019)	113,678	113,678
Premium on capital stock	714,824	714,824
Retained earnings	1,217,250	1,220,129
Accumulated other comprehensive loss, net of tax benefits	(1,253)	(1,279)
Total shareholders’ equity	2,044,499	2,047,352
Long-term debt, net	1,496,638	1,401,714
Total capitalization	3,575,430	3,483,359
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293	34,293
Commitments and contingencies
Current liabilities
Current portion of operating lease liabilities	63,743	63,707
Current portion of long-term debt	13,997	95,953
Short-term borrowings from non-affiliates	99,956	88,987
Accounts payable	145,935	187,770
Interest and dividends payable	27,941	20,728
Taxes accrued, including revenue taxes	158,991	207,992
Regulatory liabilities	42,711	30,724
Other	65,748	67,305
Total current liabilities	619,022	763,166
Deferred credits and other liabilities
Operating lease liabilities	118,953	113,400
Deferred income taxes	380,869	377,150
Regulatory liabilities	947,259	941,586
Unamortized tax credits	114,878	117,868
Defined benefit pension and other postretirement benefit plans liability	470,811	478,763
Other	108,706	113,390
Total deferred credits and other liabilities	2,141,476	2,142,157
Shareholders’ equity
Preferred stock, no par value, authorized 10,000,000 shares; issued: none	34,293	34,293
Retained earnings	1,217,250	1,220,129
Accumulated other comprehensive loss, net of tax benefits	(1,253)	(1,279)
Total shareholders’ equity	2,044,499	2,047,352
Total liabilities and shareholders’ equity	$ 6,335,928	$ 6,388,682

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property, plant and equipment, accumulated depreciation	$ 2,803,965	$ 2,765,569
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized shares (in shares)	10,000,000	10,000,000
Preferred stock, issued shares (in shares)	0	0
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, issued shares (in shares)	109,145,492	108,973,328
Common stock, outstanding shares (in shares)	109,145,492	108,973,328
Hawaiian Electric Company, Inc. and Subsidiaries
Nonutility property, plant and equipment, accumulated depreciation	$ 112	$ 111
Common stock, par value (in dollars per share)	$ 6.67	$ 6.67
Common stock, authorized shares (in shares)	50,000,000	50,000,000
Common stock, outstanding shares (in shares)	17,048,783	17,048,783

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Equity and Common Stock Equity (unaudited) - USD ($) $ in Thousands	Total	Hawaiian Electric Company, Inc. and Subsidiaries	Common stock	Common stockHawaiian Electric Company, Inc. and Subsidiaries	Premium on capital stockHawaiian Electric Company, Inc. and Subsidiaries	Retained Earnings	Retained EarningsHawaiian Electric Company, Inc. and Subsidiaries	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss)Hawaiian Electric Company, Inc. and Subsidiaries
Beginning Balance at Dec. 31, 2018	$ 2,162,280	$ 1,957,641	$ 1,669,267	$ 111,696	$ 681,305	$ 543,623	$ 1,164,541	$ (50,610)	$ 99
Beginning Balance (in shares) at Dec. 31, 2018			108,879,000	16,751,000
Increase (decrease) in stockholders' equity
Net income for common stock	45,688	32,126				45,688	32,126
Other comprehensive income (loss), net of tax (benefits)	9,241	24						9,241	24
Share-based expenses and other, net (in shares)			58,000
Share-based expenses and other, net	1,166		$ 1,166
Common stock dividends	(34,860)	(25,313)				(34,860)	(25,313)
Ending Balance at Mar. 31, 2019	$ 2,183,515	1,964,478	$ 1,670,433	$ 111,696	681,305	554,451	1,171,354	(41,369)	123
Ending Balance (in shares) at Mar. 31, 2019			108,937,000	16,751,000
Increase (decrease) in stockholders' equity
Common stock dividends (in dollars per share)	$ 0.32
Impact of adoption of ASU No. 2016-13	$ (15,372)					(15,372)
Balance, January 1, 2020 after adoption of ASU No. 2016-13	2,264,888		$ 1,678,257			606,670		(20,039)
Beginning Balance at Dec. 31, 2019	$ 2,280,260	2,047,352	$ 1,678,257	$ 113,678	714,824	622,042	1,220,129	(20,039)	(1,279)
Beginning Balance (in shares) at Dec. 31, 2019	108,973,328		108,973,000	17,048,000
Increase (decrease) in stockholders' equity
Net income for common stock	$ 33,420	23,905				33,420	23,905
Other comprehensive income (loss), net of tax (benefits)	18,212	26						18,212	26
Share-based expenses and other, net (in shares)			172,000
Share-based expenses and other, net	(3,996)		$ (3,996)
Common stock dividends	(36,019)	(26,784)				(36,019)	(26,784)
Ending Balance at Mar. 31, 2020	$ 2,276,505	$ 2,044,499	$ 1,674,261	$ 113,678	$ 714,824	$ 604,071	$ 1,217,250	$ (1,827)	$ (1,253)
Ending Balance (in shares) at Mar. 31, 2020	109,145,492		109,145,000	17,048,000
Increase (decrease) in stockholders' equity
Common stock dividends (in dollars per share)	$ 0.33

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Shareholders' Equity and Common Stock Equity (unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0.33	$ 0.32

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities
Net income	$ 33,893	$ 46,161
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment	59,614	57,435
Other amortization	11,418	9,792
Provision for credit losses	10,401	6,870
Loans originated, held for sale	(76,770)	(30,934)
Proceeds from sale of loans, held for sale	72,533	24,900
Deferred income taxes	(4,996)	(3,171)
Bad debt expense	2,724	239
Share-based compensation expense	1,704	2,162
Allowance for equity funds used during construction	(2,015)	(2,910)
Other	(1,776)	(3,243)
Changes in assets and liabilities
Decrease (increase) in accounts receivable and unbilled revenues, net	(6,563)	57,710
Decrease (increase) in fuel oil stock	2,566	(37,574)
Decrease (increase) in regulatory assets	1,171	(5,040)
Increase in regulatory liabilities	16,586	1,138
Increase in accounts, interest and dividends payable	8,935	10,413
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	(45,205)	(33,136)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability	(490)	3,220
Change in other assets and liabilities	(19,713)	(26,624)
Net cash provided by operating activities	61,293	77,169
Cash flows from investing activities
Available-for-sale investment securities purchased	(159,173)	(4,334)
Principal repayments on available-for-sale investment securities	77,642	57,074
Principal repayments of held-to-maturity investment securities	4,851	1,681
Purchase of stock from Federal Home Loan Bank	(20,766)	(26,036)
Redemption of stock from Federal Home Loan Bank	19,440	26,560
Net increase in loans held for investment	(65,544)	(19,804)
Proceeds from sale of low-income housing investments	6,725	0
Capital expenditures	(125,554)	(120,424)
Contributions to low income housing investments	(1,026)	(1,627)
Other	2,942	3,932
Net cash used in investing activities	(260,463)	(82,978)
Cash flows from financing activities
Net increase in deposit liabilities	111,881	46,807
Net increase (decrease) in short-term borrowings with original maturities of three months or less	(135,710)	11,407
Net increase (decrease) in other bank borrowings with original maturities of three months or less	42,495	(20,170)
Proceeds from issuance of short-term debt	50,000	25,000
Proceeds from issuance of long-term debt	186,925	550
Repayment of long-term debt	(909)	0
Withheld shares for employee taxes on vested share-based compensation	(5,700)	(996)
Common stock dividends	(36,018)	(34,860)
Preferred stock dividends of subsidiaries	(473)	(473)
Other	(4,590)	(4,257)
Net cash provided by financing activities	207,901	23,008
Net increase in cash, cash equivalents and restricted cash	8,731	17,199
Cash, cash equivalents and restricted cash, beginning of period	227,685	169,208
Cash, cash equivalents and restricted cash, end of period	236,416	186,407
Less: Restricted cash	(30,902)	0
Cash and cash equivalents, end of period	205,514	186,407
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income	24,404	32,625
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment	55,850	53,947
Other amortization	7,618	6,714
Deferred income taxes	(3,762)	(3,127)
Income tax credits, net	(101)	(27)
State refundable credit	(2,530)	(2,095)
Allowance for equity funds used during construction	(2,015)	(2,910)
Other	121	305
Changes in assets and liabilities
Decrease (increase) in accounts receivable	(9,020)	36,905
Decrease in accrued unbilled revenues	2,704	25,852
Decrease (increase) in fuel oil stock	2,410	(36,564)
Increase in materials and supplies	(496)	(1,381)
Decrease (increase) in regulatory assets	1,171	(5,040)
Increase in regulatory liabilities	16,586	1,138
Decrease in accounts payable	(7,153)	(927)
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	(43,919)	(34,668)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability	(1,017)	2,991
Change in other assets and liabilities	(4,434)	(4,561)
Net cash provided by operating activities	39,141	69,416
Cash flows from investing activities
Capital expenditures	(119,144)	(102,891)
Other	2,713	794
Net cash used in investing activities	(116,431)	(102,097)
Cash flows from financing activities
Net increase (decrease) in short-term borrowings with original maturities of three months or less	50,000	25,000
Net increase (decrease) in other bank borrowings with original maturities of three months or less	(38,987)	5,999
Proceeds from issuance of short-term debt	50,000	25,000
Proceeds from issuance of long-term debt	95,000	0
Common stock dividends	(26,784)	(25,313)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(499)	(499)
Other	(23)	(2)
Net cash provided by financing activities	78,707	5,185
Net increase in cash, cash equivalents and restricted cash	1,417	(27,496)
Cash, cash equivalents and restricted cash, beginning of period	41,894	35,877
Cash, cash equivalents and restricted cash, end of period	43,311	8,381
Less: Restricted cash	(30,902)	0
Cash and cash equivalents, end of period	$ 12,409	$ 8,381

Basis of presentation

Basis of presentation	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentationThe accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) for interim financial information, the instructions to SEC Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In preparing the unaudited condensed consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenues and expenses for the period. Actual results could differ significantly from those estimates. The accompanying unaudited condensed consolidated financial statements and the following notes should be read in conjunction with the audited consolidated financial statements and the notes thereto in HEI’s and Hawaiian Electric’s Form 10-K for the year ended December 31, 2019.In the opinion of HEI’s and Hawaiian Electric’s management, the accompanying unaudited condensed consolidated financial statements contain all material adjustments required by GAAP to fairly state consolidated HEI’s and Hawaiian Electric’s financial positions as of March 31, 2020 and December 31, 2019 and the results of their operations and cash flows for the three months ended March 31, 2020 and 2019. All such adjustments are of a normal recurring nature, unless otherwise disclosed below or in other referenced material. Results of operations for interim periods are not necessarily indicative of results for the full year. Recent accounting pronouncements. Credit losses . In June 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which replaces the incurred loss methodology with an expected loss methodology. The new methodology is referred to as the current expected credit loss (CECL) methodology and will apply to financial assets subject to credit losses and measured at amortized cost and certain off-balance sheet credit exposures. This includes, but is not limited to loans, loan commitments and held-to-maturity securities. In addition, ASU No. 2016-13 amends the accounting for credit losses on available-for-sale (AFS) debt securities and purchased financial assets with credit deterioration. The other-than-temporary impairment model of accounting for credit losses on AFS debt securities will be replaced with an estimate of expected credit losses only when the fair value is below the amortized cost of the asset. The length of time the fair value of an AFS debt security has been below the amortized cost will no longer impact the determination of whether a credit loss exists. The AFS debt security model requires the use of an allowance to record the estimated losses (and subsequent recoveries). The Company adopted ASU No. 2016-13 on January 1, 2020 using the modified retrospective method with the cumulative effect of initially applying the amendments recognized in retained earnings as of January 1, 2020. The CECL models use a probability-of-default, loss given default and exposure at default methodology to estimate the expected credit losses. Within each model or calculation, loans are further segregated based on additional risk characteristics specific to that loan type, such as risk rating, FICO score, bankruptcy score, age of loan and collateral. The Company uses both internal and external historical data, as appropriate, and a blend of economic forecasts to estimate credit losses over a reasonable and supportable forecast period and then reverts to a longer-term historical loss experience to arrive at lifetime expected credit losses. The reversion period incorporates forward-looking expectations about repayments (including prepayments) as determined by the Company’s asset liability management system. The Company elected not to measure an allowance for credit losses for accrued interest as it reverses uncollectible accrued interest through interest income in a timely manner and to continue to report accrued interest within other assets in the balance sheets with the adoption of ASU No. 2019-04, “Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments.” See Codification Improvements below for a description of ASU No. 2019-04. The allowance for credit losses (ACL) is a material estimate of the Company. As a result of the change from an incurred loss model to a methodology that considers the credit loss over the expected life of the loan, on January 1, 2020, the Company recorded an adjustment of $21 million to increase the ACL, including a $2 million increase in the allowance for loan commitments, with a corresponding adjustment to reduce retained earnings by $15 million on an after tax basis . The ACL is based on the composition, characteristics and quality of the loans and off balance sheet credit exposures as well as the prevailing economic conditions as of the adoption date. The increase in the ACL primarily relates to required reserves for residential mortgages and consumer loans, due to the requirement to estimate lifetime expected credit losses, with lower ACL requirements for commercial and commercial real estate loans due to their short-term nature. Based on the credit quality of the Company’s existing held-to-maturity and AFS investment securities portfolio, the Company did not recognize an ACL at adoption for those investments. The adoption of the new standard did not have a material impact to the Utilities’ customer and other accounts receivables and accrued unbilled revenue. Results for reporting periods beginning after January 1, 2020 are presented under ASU No. 2016-13 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The table below summarizes the impact of the Company’s adoption of ASU No. 2016-13. January 1, 2020 (in thousands) Pre-ASU No. 2016-13 adoption Impact of ASU No. 2016-13 As reported under ASU No. 2016-13 HEI consolidated Loans held for investments, net 1 $ 5,067,821 $ (19,441) $ 5,048,380 Total assets $ 13,745,251 $ (19,441) $ 13,725,810 Deferred income taxes $ 379,324 $ (5,628) $ 373,696 Other 1 583,545 1,559 585,104 Total liabilities 11,430,698 (4,069) 11,426,629 Retained earnings 622,042 (15,372) 606,670 Total shareholders’ equity 2,280,260 (15,372) 2,264,888 Total liabilities and shareholders’ equity $ 13,745,251 $ (19,441) $ 13,725,810 1 The allowance for credit losses is classified in “Loans held for investments, net,” and the allowance for loan commitments is classified in “Other” liabilities in the Company’s condensed consolidated balance sheets. Codification Improvements . In April 2019, the FASB issued ASU No. 2019-04, “Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments,” which is intended to clarify certain issues related to the accounting for financial instruments. • With respect to Topic 326, Financial Instruments - Credit Losses , ASU No. 2019-04 allows entities to measure the allowance for credit losses on accrued interest receivable balances separately from other components of the amortized cost basis of associated financial assets, or to make an accounting policy election not to measure an allowance for credit losses on accrued interest receivable amounts if an entity writes off the uncollectible accrued interest receivable balance in a timely manner and makes certain disclosures. ASU No. 2019-04 also allows an entity to make an accounting policy election regarding the presentation and disclosure of accrued interest receivables and the related allowance for credit losses for those accrued interest receivables. ASU No. 2019-04 also clarifies certain issues related to transfers between classifications or categories for loans and debt securities, recoveries, variable interest rates and prepayments, vintage disclosures, and contractual extensions and renewal options. • With respect to Topic 815, Derivatives and Hedging , ASU No. 2019-04 provides amendments, among others, that address partial-term fair value hedges, fair value hedge basis adjustments, and certain transition requirements. • With respect to Topic 825, Financial Instruments , ASU No. 2019-04 clarifies the scope of the guidance and disclosure requirements with respect to recognizing and measuring financial instruments. The amended guidance in ASU No. 2019-04 is effective for fiscal years and interim periods beginning after December 15, 2019, with early adoption permitted. The Company adopted ASU No. 2019-04 in the first quarter of 2020 and elected not to measure an allowance for credit losses for accrued interest as it reverses uncollectible accrued interest through interest income in a timely manner and to continue to report accrued interest within other assets in the balance sheets. The impact of the ASU on the Company’s consolidated financial statements was not material.

Segment financial information

Segment financial information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment financial information	Segment financial information (in thousands) Electric utility Bank Other Total Three months ended March 31, 2020 Revenues from external customers $ 597,430 $ 79,738 $ 18 $ 677,186 Intersegment revenues (eliminations) 12 — (12) — Revenues $ 597,442 $ 79,738 $ 6 $ 677,186 Income (loss) before income taxes $ 29,686 $ 18,969 $ (8,959) $ 39,696 Income taxes (benefit) 5,282 3,208 (2,687) 5,803 Net income (loss) 24,404 15,761 (6,272) 33,893 Preferred stock dividends of subsidiaries 499 — (26) 473 Net income (loss) for common stock $ 23,905 $ 15,761 $ (6,246) $ 33,420 Total assets (at March 31, 2020) $ 6,335,928 $ 7,385,745 $ 127,345 $ 13,849,018 Three months ended March 31, 2019 Revenues from external customers $ 578,482 $ 83,052 $ 81 $ 661,615 Intersegment revenues (eliminations) 13 — (13) — Revenues $ 578,495 $ 83,052 $ 68 $ 661,615 Income (loss) before income taxes $ 41,859 $ 26,162 $ (9,982) $ 58,039 Income taxes (benefit) 9,234 5,323 (2,679) 11,878 Net income (loss) 32,625 20,839 (7,303) 46,161 Preferred stock dividends of subsidiaries 499 — (26) 473 Net income (loss) for common stock $ 32,126 $ 20,839 $ (7,277) $ 45,688 Total assets (at December 31, 2019) $ 6,388,682 $ 7,233,017 $ 123,552 $ 13,745,251 Intercompany electricity sales of the Utilities to the bank and “other” segments are not eliminated because those segments would need to purchase electricity from another source if it were not provided by the Utilities and the profit on such sales is nominal. Bank fees that ASB charges the Utilities and “other” segments are not eliminated because those segments would pay fees to another financial institution if they were to bank with another institution and the profit on such fees is nominal. Hamakua Energy, LLC’s (Hamakua Energy’s) sales to Hawaii Electric Light (a regulated affiliate) are eliminated in consolidation.

Electric utility segment

Electric utility segment	3 Months Ended
	Mar. 31, 2020
Electric utility subsidiary [Abstract]
Electric utility segment	Electric utility segment Unconsolidated variable interest entities. Power purchase agreements . As of March 31, 2020, the Utilities had four PPAs for firm capacity (excluding the PGV PPA as PGV has been offline since May 2018 due to lava flow on Hawaii Island) and other PPAs with independent power producers (IPPs) and Schedule Q providers (i.e., customers with cogeneration and/or power production facilities who buy power from or sell power to the Utilities), none of which are currently required to be consolidated as VIEs. Pursuant to the current accounting standards for VIEs, the Utilities are deemed to have a variable interest in Kalaeloa Partners, L.P. (Kalaeloa), AES Hawaii, Inc. (AES Hawaii) and Hamakua Energy by reason of the provisions of the PPA that the Utilities have with the three IPPs. However, management has concluded that the Utilities are not the primary beneficiary of Kalaeloa, AES Hawaii and Hamakua Energy because the Utilities do not have the power to direct the activities that most significantly impact the three IPPs’ economic performance nor the obligation to absorb their expected losses, if any, that could potentially be significant to the IPPs. Thus, the Utilities have not consolidated Kalaeloa, AES Hawaii and Hamakua Energy in its condensed consolidated financial statements. Hamakua Energy is an indirect subsidiary of Pacific Current and is consolidated in HEI’s condensed consolidated financial statements. Annual decoupling filings . The Utilities filed annual decoupling filings on March 31, 2020, which are subject to PUC approval. The net annual incremental amounts proposed to be collected (refunded) from June 1, 2020 through May 31, 2021 are as follows: (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Total 2020 Annual incremental RAM adjusted revenues, net of changes in Tax Act adjustment $ 20.6 $ 3.2 $ 5.7 $ 29.5 Annual change in accrued RBA balance as of December 31, 2019 (and associated revenue taxes) which incorporates MPIR recovery (46.5) (9.9) (11.0) (67.4) Incremental Performance Incentive Mechanisms (net) 2.2 (0.1) (0.1) 2.0 Net annual incremental amount to be collected (refunded) under the tariffs $ (23.7) $ (6.8) $ (5.4) $ (35.9) Performance-based regulation proceeding. On April 18, 2018, the PUC issued an order, instituting a proceeding to investigate performance-based regulation (PBR). The PUC stated that PBR seeks to utilize both revenue adjustment mechanisms and performance mechanisms to more strongly align utilities’ incentives with customer interests. The order stated that, in general, the PUC is interested in ratemaking elements and/or mechanisms that result in: • Greater cost control and reduced rate volatility; • Efficient investment and allocation of resources regardless of classification as capital or operating expense; • Fair distribution of risks between utilities and customers; and • Fulfillment of State policy goals. The proceeding has two phases. Phase 1 examined the current regulatory framework and identified those areas of utility performance that are deserving of further focus in Phase 2. In May 2019, the PUC issued an order concluding Phase 1, which established guiding principles, regulatory goals, and priority outcomes to guide the development of the PBR mechanisms in Phase 2. The PUC identified the following guiding principles, which will inform the development of the PBR framework: 1) a customer-centric approach, 2) administrative efficiency to reduce regulatory burdens; and 3) utility financial integrity to maintain the utility’s financial health. Priority goals (and priority outcomes) identified by the PUC were: enhance customer experience (affordability, reliability, interconnection experience, and customer engagement), improve utility performance (cost control, distributed energy resources (DER) asset effectiveness, and grid investment efficiency), and advance societal outcomes (capital formation, customer equity, greenhouse gas reduction, electrification of transportation, and resilience). The order also outlined the PUC’s vision of a comprehensive PBR framework that would be further developed in Phase 2. The framework envisioned would include 1) a five-year multi-year rate plan with an index-driven annual revenue adjustment based on an inflation factor, an X-factor which would encompass productivity, a Z-factor to account for exceptional circumstances not in the utility’s control and a customer dividend, 2) a symmetric earnings sharing mechanism that would help ensure that utility earnings do not excessively benefit or suffer from external factors outside of utility control or unforeseen results of regulatory mechanisms, 3) off-ramp provisions, 4) continuation of the RBA, MPIR adjustment mechanism, the pension and OPEB tracking mechanism, and other recovery mechanisms, and 5) a portfolio of performance incentive mechanisms for customer engagement and DER asset effectiveness (rewards only), and interconnection experience (both rewards and penalties), in addition to scorecards to track progress against targeted performance levels, shared savings mechanisms to apportion savings to the utility and customers, and reported metrics. The Phase 2 schedule includes working group meetings through the first half of 2020, followed by statements of positions, evidentiary hearing in October 2020 and anticipated decision in December 2020. Most recent rate proceedings. Hawaiian Electric 2020 test year rate case . On August 21, 2019, Hawaiian Electric filed an application for a general rate increase for its 2020 test year rate case, requesting an increase of $77.6 million over revenues at current effective rates (for a 4.1% increase in revenues), based on an 8.0% rate of return (which incorporates a ROACE of 10.5%). In September 2019, the PUC issued an order ruling that Hawaiian Electric’s application was complete as of the date of filing. It also ordered that an outside consultant, selected by the PUC, would independently conduct a management audit of Hawaiian Electric. On April 17, 2020, the PUC issued a revised procedural schedule indicating the management audit is expected to be concluded in mid-May 2020, and an interim decision and order is scheduled to be issued in October 2020. Hawaii Electric Light 2019 test year rate case . On September 24, 2019, Hawaii Electric Light and the Consumer Advocate filed a Stipulated Partial Settlement Letter which documented agreements reached on all of the issues in the proceeding, except for the ROACE, capital structure, amortization period for the state investment tax credit, and automatic annual target heat rate adjustment. On November 13, 2019, the PUC issued an interim decision maintaining Hawaii Electric Light’s revenues at current effective rates based on an interim revenue requirement of $387 million, average rate base of $543 million, and a 7.52% ROR on average rate base that incorporates a ROACE of 9.5% and 58.0% total equity ratio. On November 25, 2019, the Parties filed separate responses to the interim order, agreeing that (1) they do not intend to withdraw from the Partial Settlement: (2) they waive their respective rights to an evidentiary hearing on the remaining contested issues; and (3) the remaining issues in the proceeding can be decided based on the evidence in the record and should be the subject of the filing of opening and reply briefs in February 2020. On December 13, 2019, the PUC issued an order approving the interim tariffs (effective January 1, 2020) removing the evidentiary hearing from the procedural schedule. Hawaii Electric Light filed on January 17, 2020 the supplemental evidence and simultaneous opening and reply briefs on February 3, 2020 and February 24, 2020, respectively. There is no statutory deadline for the PUC to issue a final decision. Maui Electric 2021 test year rate case . By an order issued on April 29, 2020, the PUC terminated the requirement of a mandatory triennial rate case cycle that was established in the Decoupling final D&O, and indicated Maui Electric is not required to file a 2021 test year rate case. Subsequent event-regulatory order. On April 22, 2020, the Utilities filed a request to the PUC for deferral treatment of COVID-19 related expenses, including higher bad debt expense and write-offs, higher financing costs and other expenses. On May 4, 2020, the PUC issued an order, authorizing all utilities, including the Utilities, to establish regulatory assets to record costs resulting from the suspension of disconnections of service during the pendency of the Governor’s Emergency Proclamation and until otherwise ordered by the PUC. In future proceedings, the PUC will consider the reasonableness of the costs, the appropriate period of recovery, any amount of carrying costs thereon, and any savings directly attributable to suspension of disconnects, and other related matters. As part of the order, the PUC prohibits the Utilities from charging late payments fees on past due payments. The Utilities are required to file a report on their financial condition by May 20, 2020, if regulatory assets will be recorded pursuant to the Order, and quarterly reports beginning July 20, 2020. The Utilities plan to record regulatory assets pursuant to the Order in the second quarter of 2020. Condensed consolidating financial information. Condensed consolidating financial information for Hawaiian Electric and its subsidiaries are presented for the three month periods ended March 31, 2020 and 2019, and as of March 31, 2020 and December 31, 2019. Hawaiian Electric unconditionally guarantees Hawaii Electric Light’s and Maui Electric’s obligations (a) to the State of Hawaii for the repayment of principal and interest on Special Purpose Revenue Bonds issued for the benefit of Hawaii Electric Light and Maui Electric, and (b) under their respective private placement note agreements and the Hawaii Electric Light notes and Maui Electric notes issued thereunder. Hawaiian Electric is also obligated, after the satisfaction of its obligations on its own preferred stock, to make dividend, redemption and liquidation payments on Hawaii Electric Light’s and Maui Electric’s preferred stock if the respective subsidiary is unable to make such payments. Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Statement of Income Three months ended March 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 421,166 89,293 87,198 — (215) $ 597,442 Expenses Fuel oil 120,535 22,432 30,254 — — 173,221 Purchased power 107,951 19,521 12,344 — — 139,816 Other operation and maintenance 85,637 19,104 22,806 — — 127,547 Depreciation 38,011 9,760 8,079 — — 55,850 Taxes, other than income taxes 40,501 8,342 8,207 — — 57,050 Total expenses 392,635 79,159 81,690 — — 553,484 Operating income 28,531 10,134 5,508 — (215) 43,958 Allowance for equity funds used during construction 1,743 119 153 — — 2,015 Equity in earnings of subsidiaries 8,804 — — — (8,804) — Retirement defined benefits expense—other than service costs (546) 194 (29) — — (381) Interest expense and other charges, net (12,002) (2,484) (2,323) — 215 (16,594) Allowance for borrowed funds used during construction 602 36 50 — — 688 Income before income taxes 27,132 7,999 3,359 — (8,804) 29,686 Income taxes 2,957 1,798 527 5,282 Net income 24,175 6,201 2,832 — (8,804) 24,404 Preferred stock dividends of subsidiaries — 134 95 — 229 Net income attributable to Hawaiian Electric 24,175 6,067 2,737 — (8,804) 24,175 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 23,905 6,067 2,737 — (8,804) $ 23,905 Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Statement of Comprehensive Income Three months ended March 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net income for common stock $ 23,905 6,067 2,737 — (8,804) $ 23,905 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 5,184 748 652 — (1,400) 5,184 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (5,158) (747) (652) — 1,399 (5,158) Other comprehensive income, net of taxes 26 1 — — (1) 26 Comprehensive income attributable to common shareholder $ 23,931 6,068 2,737 — (8,805) $ 23,931 Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Statement of Income Three months ended March 31, 2019 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 405,669 87,205 85,653 — (32) $ 578,495 Expenses Fuel oil 108,922 20,842 30,845 — — 160,609 Purchased power 105,223 19,177 10,045 — — 134,445 Other operation and maintenance 81,178 18,736 18,216 — — 118,130 Depreciation 35,867 10,453 7,627 — — 53,947 Taxes, other than income taxes 38,631 8,105 8,068 — — 54,804 Total expenses 369,821 77,313 74,801 — — 521,935 Operating income 35,848 9,892 10,852 — (32) 56,560 Allowance for equity funds used during construction 2,447 132 331 — — 2,910 Equity in earnings of subsidiaries 11,849 — — — (11,849) — Retirement defined benefits expense—other than service costs (567) (106) (30) — — (703) Interest expense and other charges, net (12,800) (2,901) (2,317) — 32 (17,986) Allowance for borrowed funds used during construction 902 56 120 — — 1,078 Income before income taxes 37,679 7,073 8,956 — (11,849) 41,859 Income taxes 5,283 1,770 2,181 — — 9,234 Net income 32,396 5,303 6,775 — (11,849) 32,625 Preferred stock dividends of subsidiaries — 134 95 — — 229 Net income attributable to Hawaiian Electric 32,396 5,169 6,680 — (11,849) 32,396 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 32,126 5,169 6,680 — (11,849) $ 32,126 Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Statement of Comprehensive Income Three months ended March 31, 2019 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net income for common stock $ 32,126 5,169 6,680 — (11,849) $ 32,126 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 2,322 352 289 — (641) 2,322 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (2,298) (351) (289) — 640 (2,298) Other comprehensive income, net of taxes 24 1 — — (1) 24 Comprehensive income attributable to common shareholder $ 32,150 5,170 6,680 — (11,850) $ 32,150 Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Balance Sheet March 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,389 5,606 3,612 — — $ 51,607 Plant and equipment 4,821,180 1,317,355 1,167,120 — — 7,305,655 Less accumulated depreciation (1,614,651) (581,038) (530,414) — — (2,726,103) Construction in progress 164,467 12,530 22,532 — — 199,529 Utility property, plant and equipment, net 3,413,385 754,453 662,850 — — 4,830,688 Nonutility property, plant and equipment, less accumulated depreciation 5,309 115 1,532 — — 6,956 Total property, plant and equipment, net 3,418,694 754,568 664,382 — — 4,837,644 Investment in wholly owned subsidiaries, at equity 593,097 — — — (593,097) — Current assets Cash and cash equivalents 4,589 4,654 3,065 101 — 12,409 Restricted cash 30,902 — — — — 30,902 Advances to affiliates 44,700 — — — (44,700) — Customer accounts receivable, net 113,999 23,327 21,354 — — 158,680 Accrued unbilled revenues, net 81,468 16,468 15,844 — — 113,780 Other accounts receivable, net 17,593 2,596 2,327 — (11,269) 11,247 Fuel oil stock, at average cost 65,688 8,684 15,155 — — 89,527 Materials and supplies, at average cost 35,006 9,153 17,039 — — 61,198 Prepayments and other 28,445 3,816 5,222 — (1,576) 35,907 Regulatory assets 25,490 1,928 1,549 — — 28,967 Total current assets 447,880 70,626 81,555 101 (57,545) 542,617 Other long-term assets Operating lease right-of-use assets 175,205 1,514 378 — — 177,097 Regulatory assets 466,795 105,956 96,926 — — 669,677 Other 73,796 17,316 17,781 — — 108,893 Total other long-term assets 715,796 124,786 115,085 — — 955,667 Total assets $ 5,175,467 949,980 861,022 101 (650,642) $ 6,335,928 Capitalization and liabilities Capitalization Common stock equity $ 2,044,499 300,986 292,010 101 (593,097) $ 2,044,499 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,101,614 206,437 188,587 — — 1,496,638 Total capitalization 3,168,406 514,423 485,597 101 (593,097) 3,575,430 Current liabilities Current portion of operating lease liabilities 63,616 96 31 — — 63,743 Current portion of long-term debt — 13,997 — — — 13,997 Short-term borrowings from non-affiliates 99,956 — — — — 99,956 Short-term borrowings from affiliate — 2,500 42,200 — (44,700) — Accounts payable 113,932 14,401 17,602 — — 145,935 Interest and preferred dividends payable 20,095 3,806 4,129 — (89) 27,941 Taxes accrued 109,383 26,846 24,338 — (1,576) 158,991 Regulatory liabilities 19,762 12,813 10,136 — — 42,711 Other 50,411 11,196 15,321 — (11,180) 65,748 Total current liabilities 477,155 85,655 113,757 — (57,545) 619,022 Deferred credits and other liabilities Operating lease liabilities 117,183 1,418 352 — — 118,953 Deferred income taxes 269,478 53,374 58,017 — — 380,869 Regulatory liabilities 670,187 178,479 98,593 — — 947,259 Unamortized tax credits 84,309 15,985 14,584 — — 114,878 Defined benefit pension and other postretirement benefit plans liability 333,716 68,756 68,339 — — 470,811 Other 55,033 31,890 21,783 — — 108,706 Total deferred credits and other liabilities 1,529,906 349,902 261,668 — — 2,141,476 Total capitalization and liabilities $ 5,175,467 949,980 861,022 101 (650,642) $ 6,335,928 Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Balance Sheet December 31, 2019 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,598 5,606 3,612 — — $ 51,816 Plant and equipment 4,765,362 1,313,727 1,161,199 — — 7,240,288 Less accumulated depreciation (1,591,241) (574,615) (524,301) — — (2,690,157) Construction in progress 165,137 9,993 17,944 — — 193,074 Utility property, plant and equipment, net 3,381,856 754,711 658,454 — — 4,795,021 Nonutility property, plant and equipment, less accumulated depreciation 5,310 114 1,532 — — 6,956 Total property, plant and equipment, net 3,387,166 754,825 659,986 — — 4,801,977 Investment in wholly owned subsidiaries, at equity 591,969 — — — (591,969) — Current assets Cash and cash equivalents 2,239 6,885 1,797 101 — 11,022 Restricted cash 30,749 123 — — — 30,872 Advances to affiliates 27,700 8,000 — — (35,700) — Customer accounts receivable, net 105,454 24,520 22,816 — — 152,790 Accrued unbilled revenues, net 83,148 17,071 17,008 — — 117,227 Other accounts receivable, net 18,396 1,907 1,960 — (10,695) 11,568 Fuel oil stock, at average cost 69,003 8,901 14,033 — — 91,937 Materials and supplies, at average cost 34,876 8,313 17,513 — — 60,702 Prepayments and other 88,334 3,725 24,921 — — 116,980 Regulatory assets 27,689 1,641 1,380 — — 30,710 Total current assets 487,588 81,086 101,428 101 (46,395) 623,808 Other long-term assets Operating lease right-of-use assets 174,886 1,537 386 — — 176,809 Regulatory assets 476,390 109,163 98,817 — — 684,370 Other 69,010 15,493 17,215 — — 101,718 Total other long-term assets 720,286 126,193 116,418 — — 962,897 Total assets $ 5,187,009 962,104 877,832 101 (638,364) $ 6,388,682 Capitalization and liabilities Capitalization Common stock equity $ 2,047,352 298,998 292,870 101 (591,969) $ 2,047,352 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,006,737 206,416 188,561 — — 1,401,714 Total capitalization 3,076,382 512,414 486,431 101 (591,969) 3,483,359 Current liabilities Current portion of operating lease liabilities 63,582 94 31 — — 63,707 Current portion of long-term debt 61,958 13,995 20,000 — — 95,953 Short-term borrowings-non-affiliate 88,987 — — — — 88,987 Short-term borrowings-affiliate 8,000 — 27,700 — (35,700) — Accounts payable 139,056 25,629 23,085 — — 187,770 Interest and preferred dividends payable 14,759 3,115 2,900 — (46) 20,728 Taxes accrued 143,522 32,541 31,929 — — 207,992 Regulatory liabilities 13,363 9,454 7,907 — — 30,724 Other 51,295 11,362 15,297 — (10,649) 67,305 Total current liabilities 584,522 96,190 128,849 — (46,395) 763,166 Deferred credits and other liabilities Operating lease liabilities 111,598 1,442 360 — — 113,400 Deferred income taxes 265,864 53,534 57,752 — — 377,150 Regulatory liabilities 664,894 178,474 98,218 — — 941,586 Unamortized tax credits 86,852 16,196 14,820 — — 117,868 Defined benefit pension and other postretirement benefit plans liability 339,471 69,928 69,364 — — 478,763 Other 57,426 33,926 22,038 — — 113,390 Total deferred credits and other liabilities 1,526,105 353,500 262,552 — — 2,142,157 Total capitalization and liabilities $ 5,187,009 962,104 877,832 101 (638,364) $ 6,388,682 Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Statement of Changes in Common Stock Equity Three months ended March 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Balance, December 31, 2019 $ 2,047,352 298,998 292,870 101 (591,969) $ 2,047,352 Net income for common stock 23,905 6,067 2,737 — (8,804) 23,905 Other comprehensive income, net of taxes 26 1 — — (1) 26 Common stock dividends (26,784) (4,080) (3,596) — 7,676 (26,784) Common stock issuance expenses — — (1) — 1 — Balance, March 31, 2020 $ 2,044,499 300,986 292,010 101 (593,097) $ 2,044,499 Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Statement of Changes in Common Stock Equity Three months ended March 31, 2019 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Balance, December 31, 2018 $ 1,957,641 295,874 280,863 101 (576,838) $ 1,957,641 Net income for common stock 32,126 5,169 6,680 — (11,849) 32,126 Other comprehensive income, net of taxes 24 1 — — (1) 24 Common stock dividends (25,313) (2,545) (3,767) — 6,312 (25,313) Common stock issuance expenses — (2) — — 2 — Balance, March 31, 2019 $ 1,964,478 298,497 283,776 101 (582,374) $ 1,964,478 Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Statement of Cash Flows Three months ended March 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net cash provided by operating activities $ 29,004 9,478 7,931 — (7,272) $ 39,141 Cash flows from investing activities Capital expenditures (83,191) (18,181) (17,772) — — (119,144) Advances from (to) affiliates (17,000) 8,000 — — 9,000 — Other 2,752 64 301 — (404) 2,713 Net cash used in investing activities (97,439) (10,117) (17,471) — 8,596 (116,431) Cash flows from financing activities Common stock dividends (26,784) (4,080) (3,596) — 7,676 (26,784) Preferred stock dividends of Hawaiian Electric and subsidiaries (270) (134) (95) — — (499) Proceeds from issuance of short-term debt 50,000 — — — — 50,000 Proceeds from issuance of long-term debt 95,000 — — — — 95,000 Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less (46,987) 2,500 14,500 — (9,000) (38,987) Other (21) (1) (1) — — (23) Net cash provided by (used in) financing activities 70,938 (1,715) 10,808 — (1,324) 78,707 Net increase (decrease) in cash and cash equivalents 2,503 (2,354) 1,268 — — 1,417 Cash, cash equivalents and restricted cash, beginning of period 32,988 7,008 1,797 101 — 41,894 Cash, cash equivalents and restricted cash, end of period 35,491 4,654 3,065 101 — 43,311 Less: Restricted cash (30,902) — — — — (30,902) Cash and cash equivalents, end of period $ 4,589 4,654 3,065 101 — $ 12,409 Hawaiian Electric Company, Inc. and Subsidiaries Condensed Consolidating Statement of Cash Flows Three months ended March 31, 2019 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net cash provided by operating activities $ 58,145 8,745 8,837 — (6,311) $ 69,416 Cash flows from investing activities Capital expenditures (78,220) (8,371) (16,300) — — (102,891) Advances to affiliates (9,500) (9,200) — — 18,700 — Other 1,221 (293) (134) — — 794 Net cash used in investing activities (86,499) (17,864) (16,434) — 18,700 (102,097) Cash flows from financing activities Common stock dividends (25,313) (2,544) (3,767) — 6,311 (25,313) Preferred stock dividends of Hawaiian Electric and subsidiaries (270) (134) (95) — — (499) Proceeds from issuance of short-term debt 25,000 — — — — 25,000 Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less 15,199 — 9,500 — (18,700) 5,999 Other — (1) (1) — — (2) Net cash provided by (used in) financing activities 14,616 (2,679) 5,637 — (12,389) 5,185 Net decrease in cash and cash equivalents (13,738) (11,798) (1,960) — — (27,496) Cash and cash equivalents, beginning of period 16,732 15,623 3,421 101 — 35,877 Cash and cash equivalents, end of period $ 2,994 3,825 1,461 101 — $ 8,381

Bank segment

Bank segment	3 Months Ended
	Mar. 31, 2020
Bank Subsidiary [Abstract]
Bank segment	Bank segment Selected financial information American Savings Bank, F.S.B. Statements of Income and Comprehensive Income Data Three months ended March 31 (in thousands) 2020 2019 Interest and dividend income Interest and fees on loans $ 55,545 $ 57,860 Interest and dividends on investment securities 9,430 10,628 Total interest and dividend income 64,975 68,488 Interest expense Interest on deposit liabilities 3,587 4,252 Interest on other borrowings 313 528 Total interest expense 3,900 4,780 Net interest income 61,075 63,708 Provision for credit losses 10,401 6,870 Net interest income after provision for credit losses 50,674 56,838 Noninterest income Fees from other financial services 4,571 4,562 Fee income on deposit liabilities 5,113 5,078 Fee income on other financial products 1,872 1,593 Bank-owned life insurance 794 2,259 Mortgage banking income 2,000 614 Other income, net 413 458 Total noninterest income 14,763 14,564 Noninterest expense Compensation and employee benefits 25,777 25,512 Occupancy 5,267 4,670 Data processing 3,837 3,738 Services 2,809 2,426 Equipment 2,339 2,064 Office supplies, printing and postage 1,341 1,360 Marketing 802 990 FDIC insurance 102 626 Other expense 4,194 3,854 Total noninterest expense 46,468 45,240 Income before income taxes 18,969 26,162 Income taxes 3,208 5,323 Net income 15,761 20,839 Other comprehensive income, net of taxes 19,847 6,252 Comprehensive income $ 35,608 $ 27,091 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended March 31 (in thousands) 2020 2019 Interest and dividend income $ 64,975 $ 68,488 Noninterest income 14,763 14,564 *Revenues-Bank 79,738 83,052 Total interest expense 3,900 4,780 Provision for credit losses 10,401 6,870 Noninterest expense 46,468 45,240 Less: Retirement defined benefits gain (expense)—other than service costs (434) 40 *Expenses-Bank 60,335 56,930 *Operating income-Bank 19,403 26,122 Add back: Retirement defined benefits (gain) expense—other than service costs 434 (40) Income before income taxes $ 18,969 $ 26,162 American Savings Bank, F.S.B. Balance Sheets Data (in thousands) March 31, 2020 December 31, 2019 Assets Cash and due from banks $ 186,897 $ 129,770 Interest-bearing deposits 2,635 48,628 Investment securities Available-for-sale, at fair value 1,340,241 1,232,826 Held-to-maturity, at amortized cost (fair value of $142,570 and $143,467, respectively) 134,656 139,451 Stock in Federal Home Loan Bank, at cost 9,760 8,434 Loans held for investment 5,180,932 5,121,176 Allowance for credit losses (77,084) (53,355) Net loans 5,103,848 5,067,821 Loans held for sale, at lower of cost or fair value 18,155 12,286 Other 507,363 511,611 Goodwill 82,190 82,190 Total assets $ 7,385,745 $ 7,233,017 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,969,694 $ 1,909,682 Deposit liabilities—interest-bearing 4,414,089 4,362,220 Other borrowings 157,605 115,110 Other 152,365 146,954 Total liabilities 6,693,753 6,533,966 Commitments and contingencies Common stock 1 1 Additional paid-in capital 350,158 349,453 Retained earnings 330,648 358,259 Accumulated other comprehensive loss, net of tax benefits Net unrealized gains on securities $ 21,929 $ 2,481 Retirement benefit plans (10,744) 11,185 (11,143) (8,662) Total shareholder’s equity 691,992 699,051 Total liabilities and shareholder’s equity $ 7,385,745 $ 7,233,017 Other assets Bank-owned life insurance $ 158,269 $ 157,465 Premises and equipment, net 203,622 204,449 Accrued interest receivable 19,490 19,365 Mortgage-servicing rights 9,120 9,101 Low-income housing investments 63,967 66,302 Real estate acquired in settlement of loans, net 139 — Other 52,756 54,929 $ 507,363 $ 511,611 Other liabilities Accrued expenses $ 38,928 $ 45,822 Federal and state income taxes payable 17,138 14,996 Cashier’s checks 32,372 23,647 Advance payments by borrowers 5,919 10,486 Other 58,008 52,003 $ 152,365 $ 146,954 Bank-owned life insurance is life insurance purchased by ASB on the lives of certain key employees, with ASB as the beneficiary. The insurance is used to fund employee benefits through tax-free income from increases in the cash value of the policies and insurance proceeds paid to ASB upon an insured’s death. Other borrowings consisted of securities sold under agreements to repurchase, federal funds purchased and advances from the Federal Home Loan Bank (FHLB) of $80.6 million, $50.0 million and $27.0 million, respectively, as of March 31, 2020 and $115 million, nil and nil, respectively, as of December 31, 2019. Investment securities. The major components of investment securities were as follows: Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair Amount Number of issues Fair Amount March 31, 2020 Available-for-sale U.S. Treasury and federal agency obligations $ 108,298 $ 1,995 $ — $ 110,293 — $ — $ — — $ — $ — Mortgage-backed securities* 1,114,580 27,493 (621) 1,141,452 6 28,937 (129) 15 40,892 (492) Corporate bonds 58,681 1,236 (147) 59,770 1 14,753 (147) — — — Mortgage revenue bonds 28,726 — — 28,726 — — — — $ 1,310,285 $ 30,724 $ (768) $ 1,340,241 7 $ 43,690 $ (276) 15 $ 40,892 $ (492) Held-to-maturity Mortgage-backed securities* $ 134,656 $ 7,914 $ — $ 142,570 — $ — $ — — $ — $ — $ 134,656 $ 7,914 $ — $ 142,570 — $ — $ — — $ — $ — December 31, 2019 Available-for-sale U.S. Treasury and federal agency obligations $ 117,255 $ 652 $ (120) $ 117,787 2 $ 4,110 $ (11) 3 $ 27,637 $ (109) Mortgage-backed securities* 1,024,892 6,000 (4,507) 1,026,385 19 152,071 (819) 75 318,020 (3,688) Corporate bonds 58,694 1,363 — 60,057 — — — — — — Mortgage revenue bonds 28,597 — — 28,597 — — — — — — $ 1,229,438 $ 8,015 $ (4,627) $ 1,232,826 21 $ 156,181 $ (830) 78 $ 345,657 $ (3,797) Held-to-maturity Mortgage-backed securities* $ 139,451 $ 4,087 $ (71) $ 143,467 1 $ 12,986 $ (71) — $ — $ — $ 139,451 $ 4,087 $ (71) $ 143,467 1 $ 12,986 $ (71) — $ — $ — * Issued or guaranteed by U.S. Government agencies or sponsored agencies ASB does not believe that the investment securities that were in an unrealized loss position at March 31, 2020, represent a credit loss. Total gross unrealized losses were primarily attributable to change in market conditions. On a quarterly basis the investment securities are evaluated for changes in financial condition of the issuer. Based upon ASB’s evaluation, all securities held within the investment portfolio continue to be investment grade by one or more agencies. The contractual cash flows of the U.S. Treasury, federal agency obligations and agency mortgage-backed securities are backed by the full faith and credit guaranty of the United States government or an agency of the government. ASB does not intend to sell the securities before the recovery of its amortized cost basis and there have been no adverse changes in the timing of the contractual cash flows for the securities. ASB did not recognize an other-than-temporary impairment (OTTI) for the three months ended March 31, 2019. U.S. Treasury, federal agency obligations, corporate bonds, and mortgage revenue bonds have contractual terms to maturity. Mortgage-backed securities have contractual terms to maturity, but require periodic payments to reduce principal. In addition, expected maturities will differ from contractual maturities because borrowers have the right to prepay the underlying mortgages. The contractual maturities of investment securities were as follows: March 31, 2020 Amortized cost Fair value (in thousands) Available-for-sale Due in one year or less $ 60,299 $ 60,622 Due after one year through five years 70,894 73,071 Due after five years through ten years 49,085 49,669 Due after ten years 15,427 15,427 195,705 198,789 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,114,580 1,141,452 Total available-for-sale securities $ 1,310,285 $ 1,340,241 Held-to-maturity Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies $ 134,656 $ 142,570 Total held-to-maturity securities $ 134,656 $ 142,570 Proceeds from the sale of available-for-sale securities were nil for both the three months ended March 31, 2020, and 2019. Gross realized gains and losses were nil for the three months ended March 31, 2020 and 2019. Loans. The components of loans were summarized as follows: March 31, 2020 December 31, 2019 (in thousands) Real estate: Residential 1-4 family $ 2,161,894 $ 2,178,135 Commercial real estate 852,120 824,830 Home equity line of credit 1,095,677 1,092,125 Residential land 13,720 14,704 Commercial construction 79,377 70,605 Residential construction 9,190 11,670 Total real estate 4,211,978 4,192,069 Commercial 722,647 670,674 Consumer 245,753 257,921 Total loans 5,180,378 5,120,664 Deferred fees and discounts 554 512 Allowance for credit losses (77,084) (53,355) Total loans, net $ 5,103,848 $ 5,067,821 ASB's policy is to require private mortgage insurance on all real estate loans when the loan-to-value ratio of the property exceeds 80% of the lower of the appraised value or purchase price at origination. For non-owner occupied residential property purchases, the loan-to-value ratio may not exceed 75% of the lower of the appraised value or purchase price at origination. Allowance for credit losses. The allowance for credit losses by portfolio segment were as follows: (in thousands) Residential Commercial real Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Total Three months ended March 31, 2020 Allowance for credit losses: Beginning balance, prior to adoption of ASU No. 2016-13 $ 2,380 $ 15,053 $ 6,922 $ 449 $ 2,097 $ 3 $ 10,245 $ 16,206 $ 53,355 Impact of adopting ASU No. 2016-13 2,150 208 (541) (64) 289 14 922 16,463 19,441 Charge-offs — — — (8) — — (369) (6,254) (6,631) Recoveries 53 — 6 9 — — 186 764 1,018 Provision (107) 1,326 (162) (34) 1,060 (3) 1,993 5,828 9,901 Ending balance $ 4,476 $ 16,587 $ 6,225 $ 352 $ 3,446 $ 14 $ 12,977 $ 33,007 $ 77,084 Three months ended March 31, 2019 Allowance for credit losses: Beginning balance $ 1,976 $ 14,505 $ 6,371 $ 479 $ 2,790 $ 4 $ 9,225 $ 16,769 $ 52,119 Charge-offs (14) — — — — — (618) (5,559) (6,191) Recoveries 609 — 5 7 — — 180 698 1,499 Provision (660) 320 117 (61) 53 (1) 2,027 5,075 6,870 Ending balance $ 1,911 $ 14,825 $ 6,493 $ 425 $ 2,843 $ 3 $ 10,814 $ 16,983 $ 54,297 December 31, 2019 Ending balance: individually evaluated for impairment $ 898 $ 2 $ 322 $ — $ — $ — $ 1,015 $ 454 $ 2,691 Ending balance: collectively evaluated for impairment $ 1,482 $ 15,051 $ 6,600 $ 449 $ 2,097 $ 3 $ 9,230 $ 15,752 $ 50,664 Financing Receivables: Ending balance $ 2,178,135 $ 824,830 $ 1,092,125 $ 14,704 $ 70,605 $ 11,670 $ 670,674 $ 257,921 $ 5,120,664 Ending balance: individually evaluated for impairment $ 15,600 $ 1,048 $ 12,073 $ 3,091 $ — $ — $ 8,418 $ 507 $ 40,737 Ending balance: collectively evaluated for impairment $ 2,162,535 $ 823,782 $ 1,080,052 $ 11,613 $ 70,605 $ 11,670 $ 662,256 $ 257,414 $ 5,079,927 Allowance for loan commitments. The allowance for loan commitments by portfolio segment were as follows: (in thousands) Home equity Commercial construction Commercial loans Total Three months ended March 31, 2020 Allowance for loan commitments: Beginning balance, prior to adoption of ASU No. 2016-13 $ 392 $ 931 $ 418 $ 1,741 Impact of adopting ASU No. 2016-13 (92) 1,745 (94) 1,559 Provision — 515 (15) 500 Ending balance $ 300 $ 3,191 $ 309 $ 3,800 Credit quality . ASB performs an internal loan review and grading on an ongoing basis. The review provides management with periodic information as to the quality of the loan portfolio and effectiveness of its lending policies and procedures. The objectives of the loan review and grading procedures are to identify, in a timely manner, existing or emerging credit trends so that appropriate steps can be initiated to manage risk and avoid or minimize future losses. Loans subject to grading include commercial, commercial real estate and commercial construction loans. Each commercial and commercial real estate loan is assigned an Asset Quality Rating (AQR) reflecting the likelihood of repayment or orderly liquidation of that loan transaction pursuant to regulatory credit classifications: Pass, Special Mention, Substandard, Doubtful and Loss. The AQR is a function of the probability of default model rating, the loss given default and possible non-model factors which impact the ultimate collectability of the loan such as character of the business owner/guarantor, interim period performance, litigation, tax liens and major changes in business and economic conditions. Pass exposures generally are well protected by the current net worth and paying capacity of the obligor or by the value of the asset or underlying collateral. Special Mention loans have potential weaknesses that, if left uncorrected, could jeopardize the liquidation of the debt. Substandard loans have well-defined weaknesses that jeopardize the liquidation of the debt and are characterized by the distinct possibility that ASB may sustain some loss. An asset classified Doubtful has the weaknesses of those classified Substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. An asset classified Loss is considered uncollectible and has such little value that its continuance as a bankable asset is not warranted. The credit risk profile based on payment activity and internally assigned grade for loans was as follows: (in thousands) 2020 2019 2018 2017 2016 Prior Revolving loans Revolving loans converted to term loans Total March 31, 2020 Residential 1-4 family Current $ 72,453 $ 292,483 $ 194,702 $ 276,153 $ 230,719 $ 1,089,697 $ — $ — $ 2,156,207 30-59 days past due — — — — 4 2,777 — — 2,781 60-89 days past due — — — — — 1,630 — — 1,630 Greater than 89 days past due — — — 353 — 923 — — 1,276 72,453 292,483 194,702 276,506 230,723 1,095,027 — — 2,161,894 Home equity line of credit Current — — — — — — 1,062,097 30,327 1,092,424 30-59 days past due — — — — — — 633 592 1,225 60-89 days past due — — — — — — 26 198 224 Greater than 89 days past due — — — — — — 1,375 429 1,804 — — — — — — 1,064,131 31,546 1,095,677 Residential land Current 305 5,402 2,024 2,954 22 3,013 — — 13,720 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 305 5,402 2,024 2,954 22 3,013 — — 13,720 Residential construction Current 1,069 5,410 682 2,029 — — — — 9,190 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 1,069 5,410 682 2,029 — — — — 9,190 Consumer Current 23,191 98,543 62,983 19,183 3,099 600 26,079 3,001 236,679 30-59 days past due 263 1,180 1,311 486 82 — 258 92 3,672 60-89 days past due — 843 1,225 337 43 — 128 40 2,616 Greater than 89 days past due — 762 1,115 386 73 1 358 91 2,786 23,454 101,328 66,634 20,392 3,297 601 26,823 3,224 245,753 Commercial real estate Pass 87,054 119,868 128,356 60,786 122,917 233,064 17,442 — 769,487 Special Mention 3,560 — 4,331 4,700 3,457 3,421 — — 19,469 Substandard — — 1,940 608 3,682 56,934 — — 63,164 Doubtful — — — — — — — — — 90,614 119,868 134,627 66,094 130,056 293,419 17,442 — 852,120 Commercial construction Pass 3,139 6,889 25,925 17,771 2,068 — 21,296 — 77,088 Special Mention — — — — — — — — — Substandard — — — — — 2,289 — — 2,289 Doubtful — — — — — — — — — 3,139 6,889 25,925 17,771 2,068 2,289 21,296 — 79,377 Commercial Pass 29,594 180,576 103,190 40,697 35,704 66,885 184,425 17,315 658,386 Special Mention 473 6,625 2,252 5,219 18,782 9,651 2,261 — 45,263 Substandard 198 5,108 330 1,650 4,291 3,554 2,404 1,463 18,998 Doubtful — — — — — — — — — 30,265 192,309 105,772 47,566 58,777 80,090 189,090 18,778 722,647 Total loans $ 221,299 $ 723,689 $ 530,366 $ 433,312 $ 424,943 $ 1,474,439 $ 1,318,782 $ 53,548 $ 5,180,378 Revolving loans converted to term loans during the three months ended March 31, 2020 in the commercial, home equity line of credit and consumer portfolios was $2.0 million, $1.8 million and $1.0 million, respectively. The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 60-89 90 days or more past due Total Current Total Amortized cost> March 31, 2020 Real estate: Residential 1-4 family $ 2,781 $ 1,630 $ 1,276 $ 5,687 $ 2,156,207 $ 2,161,894 $ — Commercial real estate — — — — 852,120 852,120 — Home equity line of credit 1,225 224 1,804 3,253 1,092,424 1,095,677 — Residential land — — — — 13,720 13,720 — Commercial construction — — 2,289 2,289 77,088 79,377 — Residential construction — — — — 9,190 9,190 — Commercial 3,712 311 309 4,332 718,315 722,647 — Consumer 3,672 2,616 2,786 9,074 236,679 245,753 — Total loans $ 11,390 $ 4,781 $ 8,464 $ 24,635 $ 5,155,743 $ 5,180,378 $ — December 31, 2019 Real estate: Residential 1-4 family $ 2,588 $ 290 $ 1,808 $ 4,686 $ 2,173,449 $ 2,178,135 $ — Commercial real estate — — — — 824,830 824,830 — Home equity line of credit 813 — 2,117 2,930 1,089,195 1,092,125 — Residential land — — 25 25 14,679 14,704 — Commercial construction — — — — 70,605 70,605 — Residential construction — — — — 11,670 11,670 — Commercial 1,077 311 172 1,560 669,114 670,674 — Consumer 4,386 3,257 2,907 10,550 247,371 257,921 — Total loans $ 8,864 $ 3,858 $ 7,029 $ 19,751 $ 5,100,913 $ 5,120,664 $ — The credit risk profile based on nonaccrual loans, accruing loans 90 days or more past due and troubled debt restructuring (TDR) loans was as follows: (in thousands) March 31, 2020 December 31, 2019 Real estate: Residential 1-4 family $ 10,747 $ 11,395 Commercial real estate 16,390 195 Home equity line of credit 6,596 6,638 Residential land 413 448 Commercial construction 2,289 — Residential construction — — Commercial 5,366 5,947 Consumer 4,965 5,113 Total nonaccrual loans $ 46,766 $ 29,736 Real estate: Residential 1-4 family $ 9,254 $ 9,869 Commercial real estate 1,035 853 Home equity line of credit 9,628 10,376 Residential land 2,622 2,644 Commercial construction — — Residential construction — — Commercial 3,261 2,614 Consumer 56 57 Total troubled debt restructured loans not included above $ 25,856 $ 26,413 Nonaccrual loans with no related allowance at March 31, 2020 in the commercial, commercial real estate, residential and home equity line of credit portfolios was $5.1 million, $2.3 million, $4.1 million and $1.8 million, respectively. ASB did not recognize interest on nonaccrual loans for the quarter ended March 31, 2020. Troubled debt restructurings. A loan modification is deemed to be a TDR when the borrower is determined to be experiencing financial difficulties and ASB grants a concession it would not otherwise consider. The allowance for credit losses on TDR loans that do not share risk characteristics are individually evaluated based on the present value of expected future cash flows discounted at the loan’s effective original contractual rate or based on the fair value of collateral less cost to sell. The financial impact of the estimated loss is an increase to the allowance associated with the modified loan. When available information confirms that specific loans or portions thereof are uncollectible (confirmed losses), these amounts are charged off against the allowance for credit losses. Loan modifications that occurred during the first three months of 2020 and 2019 were as follows: Loans modified as a TDR Three months ended March 31, 2020 (dollars in thousands) Number of contracts Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 1 $ 148 $ 8 Commercial real estate 2 16,584 4,281 Home equity line of credit — — — Residential land — — — Commercial construction — — — Residential construction — — — Commercial 4 756 278 Consumer — — — 7 $ 17,488 $ 4,567 Three months ended March 31, 2019 (dollars in thousands) Number of contracts Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 8 $ 1,048 $ 5 Commercial real estate — — — Home equity line of credit 2 264 23 Residential land 1 335 — Commercial construction — — — Residential construction — — — Commercial 1 195 17 Consumer — — — 12 $ 1,842 $ 45 1 T he period end balances reflect all paydowns and charge-offs since the modification period. TDRs fully paid off, charged-off, or foreclosed upon by period end are not included. Loans modified in TDRs that experienced a payment default of 90 days or more during the first quarters of 2020 and 2019, and for which the payment of default occurred within one year of the modification, were as follows: Three months ended March 31, 2020 Three months ended March 31, 2019 (dollars in thousands) Number of contracts Outstanding recorded investment (as of period end) 1 Number of contracts Outstanding recorded investment (as of period end) 1 TDRs that defaulted during the period within twelve months of their modification date Real estate: Residential 1-4 family — $ — — $ — Commercial real estate — — — — Home equity line of credit — — — — Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial — — 1 19 Consumer — — — — — $ — 1 $ 19 1 The period end balances reflect all paydowns and charge-offs since the modification period. TDRs fully paid off, charged-off, or foreclosed upon by period end are not included. If a loan modified in a TDR subsequently defaults, ASB evaluates the loan for further impairment. Based on its evaluation, adjustments may be made in the allocation of the allowance or partial charge-offs may be taken to further write-down the carrying value of the loan. Commitments to lend additional funds to borrowers whose loan terms have been modified in a TDR totaled nil at March 31, 2020 and December 31, 2019. Collateral-dependent loans. A loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the operation or sale of the collateral. Loans considered collateral-dependent were as follows: March 31, 2020 Amortized cost Collateral type (in thousands) Real estate: Residential 1-4 family $ 2,315 Residential real estate property Home equity line of credit 1,567 Residential real estate property Commercial construction 2,290 Commercial real estate property Total real estate 6,172 Commercial 90 Business assets Total $ 6,262 The Company had $3.7 million and $3.5 million of consumer mortgage loans collateralized by residential real estate property that were in the process of foreclosure at March 31, 2020 and December 31, 2019, respectively. The credit risk profile by internally assigned grade for loans was as follows: December 31, 2019 (in thousands) Commercial Commercial Commercial Total Grade: Pass $ 756,747 $ 68,316 $ 621,657 $ 1,446,720 Special mention 4,451 — 29,921 34,372 Substandard 63,632 2,289 19,096 85,017 Doubtful — — — — Loss — — — — Total $ 824,830 $ 70,605 $ 670,674 $ 1,566,109 The total carrying amount and the total unpaid principal balance of impaired loans were as follows: December 31, 2019 Three months ended March 31, 2019 (in thousands) Recorded Unpaid Related Average Interest With no related allowance recorded Real estate: Residential 1-4 family $ 6,817 $ 7,207 $ — $ 7,991 $ 160 Commercial real estate 195 200 — — — Home equity line of credit 1,984 2,135 — 2,534 12 Residential land 3,091 3,294 — 2,036 26 Commercial construction — — — — — Residential construction — — — — — Commercial 1,948 2,285 — 3,973 — Consumer 2 2 — 31 — $ 14,037 $ 15,123 $ — $ 16,565 $ 198 With an allowance recorded Real estate: Residential 1-4 family $ 8,783 $ 8,835 $ 898 $ 8,394 $ 83 Commercial real estate 853 853 2 906 10 Home equity line of credit 10,089 10,099 322 11,823 130 Residential land — — — 29 — Commercial construction — — — — — Residential construction — — — — — Commercial 6,470 6,470 1,015 4,750 26 Consumer 505 505 454 57 1 $ 26,700 $ 26,762 $ 2,691 $ 25,959 $ 250 Total Real estate: Residential 1-4 family $ 15,600 $ 16,042 $ 898 $ 16,385 $ 243 Commercial real estate 1,048 1,053 2 906 10 Home equity line of credit 12,073 12,234 322 14,357 142 Residential land 3,091 3,294 — 2,065 26 Commercial construction — — — — — Residential construction — — — — — Commercial 8,418 8,755 1,015 8,723 26 Consumer 507 507 454 88 1 $ 40,737 $ 41,885 $ 2,691 $ 42,524 $ 448 * Since loan was classified as impaired. Mortgage servicing rights (MSRs) . In its mortgage banking business, ASB sells residential mortgage loans to government-sponsored entities and other parties, who may issue securities backed by pools of such loans. ASB retains no beneficial interests in these loans other than the servicing rights of certain loans sold. ASB received proceeds from the sale of residential mortgages of $72.5 million and $24.9 million for the three months ended March 31, 2020 and 2019, respectively, and recognized gains on such sales of $2.0 million and $0.6 million for the three months ended March 31, 2020 and 2019, respectively. There were no repurchased mortgage loans for the three months ended March 31, 2020 and 2019. The repurchase reserve was $0.1 million as of March 31, 2020 and 2019. Mortgage servicing fees, a component of other income, net, were $0.8 million and $0.7 million for the three months ended March 31, 2020 and 2019, respectively. Changes in the carrying value of MSRs were as follows: (in thousands) Gross carrying amount 1 Accumulated amortization Valuation allowance Net March 31, 2020 $ 22,178 $ 13,058 $ — $ 9,120 December 31, 2019 21,543 (12,442) — 9,101 1 Reflects impact of loans paid in full Changes related to MSRs were as follows: Three months ended March 31 (in thousands) 2020 2019 Mortgage servicing rights Beginning balance $ 9,101 $ 8,062 Amount capitalized 636 230 Amortization (617) (395) Other-than-temporary impairment — — Carrying amount before valuation allowance 9,120 7,897 Valuation allowance for mortgage servicing rights Beginning balance — — Provision (recovery) — — Other-than-temporary impairment — — Ending balance — — Net carrying value of mortgage servicing rights $ 9,120 $ 7,897 ASB capitalizes MSRs acquired upon the sale of mortgage loans with servicing rights retained. On a monthly basis, ASB compares the net carrying value of the MSRs to its fair value to determine if there are any changes to the valuation allowance and/or other-than-temporary impairment for the MSRs. ASB uses a present value cash flow model to estimate the fair value of MSRs. Impairment is recognized through a valuation allowance for each stratum when the carrying amount exceeds fair value, with any associated provision recorded as a component of loan servicing fees included in “Revenues - bank” in the consolidated statements of income. A direct write-down is recorded when the recoverability of the valuation allowance is deemed to be unrecoverable. Key assumptions used in estimating the fair value of ASB’s MSRs used in the impairment analysis were as follows: (dollars in thousands) March 31, 2020 December 31, 2019 Unpaid principal balance $ 1,308,847 $ 1,276,437 Weighted average note rate 3.94 % 3.96 % Weighted average discount rate 9.3 % 9.3 % Weighted average prepayment speed 16.7 % 11.4 % The sensitivity analysis of fair value of MSRs to hypothetical adverse changes of 25 and 50 basis points in certain key assumptions was as follows: (dollars in thousands) March 31, 2020 December 31, 2019 Prepayment rate: 25 basis points adverse rate change $ (1,052) $ (950) 50 basis points adverse rate change (1,921) (1,947) Discount rate: 25 basis points adverse rate change (71) (102) 50 basis points adverse rate change (140) (202) The effect of a variation in certain assumptions on fair value is calculated without changing any other assumptions. This analysis typically cannot be extrapolated because the relationship of a change in one key assumption to the changes in the fair value of MSRs typically is not linear. Other borrowings. As of March 31, 2020, ASB had $27.0 million of FHLB advances outstanding. ASB was in compliance with all Advances, Pledge and Security Agreement requirements as of March 31, 2020. ASB also had $50.0 million of federal funds purchased with the Federal Reserve Bank as of March 31, 2020. There were no FHLB advances or federal funds purchased with the Federal Reserve Bank as of December 31, 2019. Securities sold under agreements to repurchase are accounted for as financing transactions and the obligations to repurchase these securities are recorded as liabilities in the condensed consolidated balance sheets. ASB pledges investment securities as collateral for securities sold under agreements to repurchase. All such agreements are subject to master netting arrangements, which provide for a conditional right of set-off in case of default by either party; however, ASB presents securities sold under agreements to repurchase on a gross basis in the balance sheet. The following tables present information about the securities sold under agreements to repurchase, including the related collateral received from or pledged to counterparties: (in millions) Gross amount of Gross amount offset in Net amount of liabilities presented Repurchase agreements March 31, 2020 $ 81 $ — $ 81 December 31, 2019 115 — 115 Gross amount not offset in the Balance Sheets (in millions) Net amount of liabilities presented Financial Cash Commercial account holders March 31, 2020 $ 81 $ 105 $ — December 31, 2019 115 130 — The securities underlying the agreements to repurchase are book-entry securities and were delivered by appropriate entry into the counterparties’ accounts or into segregated tri-party custodial accounts at the FHLB. The securities underlying the agreements to repurchase continue to be reflected in ASB’s asset accounts. Derivative financial instruments. ASB enters into interest rate lock commitments (IRLCs) with borrowers, and forward commitments to sell loans or to-be-announced mortgage-backed securities to investors to hedge against the inherent interest rate and pricing risks associated with selling loans. ASB enters into IRLCs for residential mortgage loans, which commit ASB to lend funds to a potential borrower at a specific interest rate and within a specified period of time. IRLCs that relate to the origination of mortgage loans that will be held for sale are considered derivative financial instruments under applicable accounting guidance. Outstanding IRLCs expose ASB to the risk that the price of the mortgage loans underlying the commitments may decline due to increases in mortgage interest rates from inception of the rate lock to the funding of the loan. The IRLCs are free-standing derivatives which are carried at fair value with changes recorded in mortgage banking income. ASB enters into forward commitments to hedge the interest rate risk for rate locked mortgage applications in process and closed mortgage loans held for sale. These commitments are primarily forward sales of to-be-announced mortgage backed securities. Generally, when mortgage loans are closed, the forward commitment is liquidated and replaced with a mandatory delivery forward sale of the mortgage to a secondary market investor. These commitments are free-standing derivatives which are carried at fair value with changes recorded in mortgage banking income. Changes in the fair value of IRLCs and forward commitments subsequent to inception are based on changes in the fair value of the underlying loan resulting from the fulfillment of the commitment and changes in the probability that the loan will fund within the terms of the commitment, which is affected primarily by changes in interest rates and the passage of time. The notional amount and fair value of ASB’s derivative financial instruments were as follows: March 31, 2020 December 31, 2019 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 63,662 $ 1,852 $ 23,171 $ 297 Forward commitments 50,800 (585) 29,383 (42) ASB’s derivative financial instruments, their fair values and balance sheet location were as follows: Derivative Financial Instruments Not Designated as Hedging Instruments 1 March 31, 2020 December 31, 2019 (in thousands) Asset derivatives Liability Asset derivatives Liability Interest rate

Credit agreements

Credit agreements	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Credit agreements and changes in debt	Credit agreements and changes in debt HEI and Hawaiian Electric each entered into a separate agreement with a syndicate of eight financial institutions (the HEI Facility and Hawaiian Electric Facility, respectively, and together, the Credit Facilities), effective July 3, 2017, to amend and restate their respective previously existing revolving unsecured credit agreements. The $150 million HEI Facility and $200 million Hawaiian Electric Facility both terminate on June 30, 2022. No amounts under the Credit Facilities were outstanding as of December 31, 2019. None of the facilities are collateralized. The Credit Facilities will be maintained to support each company’s respective short-term commercial paper program, but may be drawn on to meet each company’s respective working capital needs and general corporate purposes. During the first quarter of 2020, due to the economic effects of the COVID-19 pandemic, access to the commercial paper markets by HEI and Hawaiian Electric, as well as similarly situated borrowers, was not available or not available at reasonable terms. As a result, HEI and Hawaiian Electric elected to draw on their Credit Facilities. As of March 31, 2020, $64.5 million and $95 million were outstanding on the HEI Facility and the Hawaiian Electric Facility, respectively. Changes in debt - subsequent event. On April 20, 2020, HEI closed on a $65 million 364-day term loan from a syndicate of two banks. The loan bears interest at a floating rate at HEI’s option of either (i) a rate equal to an alternate base rate as defined in the agreement or (ii) a rate equal to an adjusted London interbank offered rate, as defined in the agreement, plus an applicable margin, and matures on April 19, 2021. The proceeds of the loan were used to pay down the balance on the HEI Facility, which increased the available borrowing capacity on the HEI Facility by $65 million. The loan contains provisions requiring the maintenance by HEI of certain financial ratios substantially consistent with those in HEI’s existing, amended and restated revolving unsecured credit agreement. The loan may be prepaid without penalty at any time, but proceeds from any debt capital market transactions must first be applied to pay down the term loan. On April 20, 2020, Hawaiian Electric closed on a $75 million 364-day revolving credit agreement (364-day Revolver) with a syndicate of four banks. Under the 364-day Revolver, draws bear interest at a floating rate at Hawaiian Electric’s option of either (i) a rate equal to an alternate base rate as defined in the agreement or (ii) a rate equal to an adjusted London interbank offered rate, as defined in the agreement, plus an applicable margin, requires annual fees for undrawn amounts, and terminates on April 19, 2021. The 364-day Revolver includes substantially the same financial covenant and customary representations and warranties, affirmative and negative covenants, and events of default (the occurrence of which may result

Shareholders' equity

Shareholders' equity	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Shareholders' equity	Shareholders’ equity Accumulated other comprehensive income/(loss) . Changes in the balances of each component of accumulated other comprehensive income/(loss) (AOCI) were as follows: HEI Consolidated Hawaiian Electric Consolidated (in thousands) Net unrealized gains (losses) on securities Unrealized gains (losses) on derivatives Retirement benefit plans AOCI AOCI-Retirement benefit plans Balance, December 31, 2019 $ 2,481 $ (1,613) $ (20,907) $ (20,039) $ (1,279) Current period other comprehensive income (loss) 19,448 (1,784) 548 18,212 26 Balance, March 31, 2020 $ 21,929 $ (3,397) $ (20,359) $ (1,827) $ (1,253) Balance, December 31, 2018 $ (24,423) $ (436) $ (25,751) $ (50,610) $ 99 Current period other comprehensive income (loss) 9,439 (403) 205 9,241 24 Balance, March 31, 2019 $ (14,984) $ (839) $ (25,546) $ (41,369) $ 123 Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Three months ended March 31 Affected line item in the (in thousands) 2020 2019 Statements of Income / Balance Sheets HEI consolidated Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ 5,706 $ 2,503 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (5,158) (2,298) See Note 8 for additional details Total reclassifications $ 548 $ 205 Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ 5,184 $ 2,322 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (5,158) (2,298) See Note 8 for additional details Total reclassifications $ 26 $ 24

Revenues

Revenues	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenue from contracts with customers. The following tables disaggregate revenues by major source, timing of revenue recognition, and segment: Three months ended March 31, 2020 (in thousands) Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 190,266 $ — $ — $ 190,266 Electric energy sales - commercial 197,105 — — 197,105 Electric energy sales - large light and power 216,220 — — 216,220 Electric energy sales - other 3,458 — — 3,458 Bank fees — 11,556 — 11,556 Total revenues from contracts with customers 607,049 11,556 — 618,605 Revenues from other sources Regulatory revenue (15,304) — — (15,304) Bank interest and dividend income — 64,975 — 64,975 Other bank noninterest income — 3,207 — 3,207 Other 5,697 — 6 5,703 Total revenues from other sources (9,607) 68,182 6 58,581 Total revenues $ 597,442 $ 79,738 $ 6 $ 677,186 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 11,556 $ — $ 11,556 Services/goods transferred over time 607,049 — — 607,049 Total revenues from contracts with customers $ 607,049 $ 11,556 $ — $ 618,605 Three months ended March 31, 2019 (in thousands) Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 175,745 $ — $ — $ 175,745 Electric energy sales - commercial 187,408 — — 187,408 Electric energy sales - large light and power 198,926 — — 198,926 Electric energy sales - other 4,078 — — 4,078 Bank fees — 11,233 — 11,233 Total revenues from contracts with customers 566,157 11,233 — 577,390 Revenues from other sources Regulatory revenue 6,207 — — 6,207 Bank interest and dividend income — 68,488 — 68,488 Other bank noninterest income — 3,331 — 3,331 Other 6,131 — 68 6,199 Total revenues from other sources 12,338 71,819 68 84,225 Total revenues $ 578,495 $ 83,052 $ 68 $ 661,615 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 11,233 $ — $ 11,233 Services/goods transferred over time 566,157 — — 566,157 Total revenues from contracts with customers $ 566,157 $ 11,233 $ — $ 577,390 There are no material contract assets or liabilities associated with revenues from contracts with customers existing at the beginning of the period or as of March 31, 2020. Accounts receivable and unbilled revenues related to contracts with customers represent an unconditional right to consideration since all performance obligations have been satisfied. These amounts are disclosed as accounts receivable and unbilled revenues, net on HEI’s condensed consolidated balance sheets and customer accounts receivable, net and accrued unbilled revenues, net on Hawaiian Electric’s condensed consolidated balance sheets.

Retirement benefits

Retirement benefits	3 Months Ended
	Mar. 31, 2020
Retirement Benefits [Abstract]
Retirement benefits	Retirement benefits Defined benefit pension and other postretirement benefit plans information. For the first three months of 2020, the Company contributed $17 million ($17 million by the Utilities) to its pension and other postretirement benefit plans, compared to $8 million ($8 million by the Utilities) in the first three months of 2019. The Company’s current estimate of total contributions to its pension and other postretirement benefit plans in 2020 is $69 million ($68 million by the Utilities, $1 million by HEI and nil by ASB), compared to $49 million ($48 million by the Utilities, $1 million by HEI and nil by ASB) in 2019. In addition, the Company expects to pay directly $3 million ($1 million by the Utilities) of benefits in 2020, compared to $2 million ($1 million by the Utilities) paid in 2019. The components of net periodic pension costs (NPPC) and net periodic benefit costs (NPBC) for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended March 31 Pension benefits Other benefits (in thousands) 2020 2019 2020 2019 HEI consolidated Service cost $ 18,363 $ 15,382 $ 631 $ 541 Interest cost 20,163 21,033 1,855 1,997 Expected return on plan assets (28,466) (27,998) (3,038) (3,086) Amortization of net prior period (gain)/cost 3 (11) (440) (452) Amortization of net actuarial (gains)/losses 8,057 3,839 50 (3) Net periodic pension/benefit cost (return) 18,120 12,245 (942) (1,003) Impact of PUC D&Os 6,262 12,279 777 811 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 24,382 $ 24,524 $ (165) $ (192) Hawaiian Electric consolidated Service cost $ 17,891 $ 15,001 $ 626 $ 537 Interest cost 18,715 19,414 1,782 1,917 Expected return on plan assets (26,855) (26,164) (2,990) (3,035) Amortization of net prior period (gain)/cost 2 2 (440) (451) Amortization of net actuarial losses 7,368 3,576 51 — Net periodic pension/benefit cost (return) 17,121 11,829 (971) (1,032) Impact of PUC D&Os 6,262 12,279 777 811 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 23,383 $ 24,108 $ (194) $ (221) HEI consolidated recorded retirement benefits expense of $15 million ($14 million by the Utilities) in each of the first three months of 2020 and 2019 and charged the remaining net periodic benefit cost primarily to electric utility plant. The Utilities have implemented pension and OPEB tracking mechanisms under which all of their retirement benefit expenses (except for executive life and nonqualified pension plan expenses) determined in accordance with GAAP are recovered over time. Under the tracking mechanisms, any actual costs determined in accordance with GAAP that are over/under amounts allowed in rates are charged/credited to a regulatory asset/liability. The regulatory asset/liability for each utility will then be amortized over 5 years beginning with the respective utility’s next rate case. Defined contribution plans information. For the first three months of 2020 and 2019, the Company’s expenses for its defined contribution plans under the Hawaiian Electric Industries Retirement Savings Plan (HEIRSP) and the ASB 401(k) Plan were $1.8 million and $1.9 million, respectively, and cash contributions were $3.2 million and $3.7 million, respectively. For each of the first three months of 2020 and 2019, the Utilities’ expenses for its defined contribution plan under the HEIRSP were $0.7 million and cash contributions were $0.7 million.

Share-based compensation

Share-based compensation	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Share-based compensation	Share-based compensation Under the 2010 Equity and Incentive Plan, as amended, HEI can issue shares of common stock as incentive compensation to selected employees in the form of stock options, stock appreciation rights, restricted shares, restricted stock units, performance shares and other share-based and cash-based awards. The 2010 Equity and Incentive Plan (original EIP) was amended and restated effective March 1, 2014 (EIP) and an additional 1.5 million shares were added to the shares available for issuance under these programs. As of March 31, 2020, approximately 3.0 million shares remained available for future issuance under the terms of the EIP, assuming recycling of shares withheld to satisfy minimum statutory tax liabilities relating to EIP awards, including an estimated 0.7 million shares that could be issued upon the vesting of outstanding restricted stock units and the achievement of performance goals for awards outstanding under long-term incentive plans (assuming that such performance goals are achieved at maximum levels). Under the 2011 Nonemployee Director Stock Plan (2011 Director Plan), HEI can issue shares of common stock as compensation to nonemployee directors of HEI, Hawaiian Electric and ASB. In June 2019, an additional 300,000 shares were made available for issuance under the 2011 Director Plan. As of March 31, 2020, there were 309,795 shares remaining available for future issuance under the 2011 Director Plan. Share-based compensation expense and the related income tax benefit were as follows: Three months ended March 31 (in millions) 2020 2019 HEI consolidated Share-based compensation expense 1 $ 1.7 $ 2.2 Income tax benefit 0.3 0.3 Hawaiian Electric consolidated Share-based compensation expense 1 0.8 0.8 Income tax benefit 0.1 0.1 1 For the three months ended March 31, 2020 and 2019, the Company has not capitalized any share-based compensation. Stock awards. HEI granted HEI common stock to nonemployee directors under the 2011 Director Plan as follows: Three months ended March 31 (dollars in thousands) 2020 2019 Shares granted 468 — Fair value $ 23 $ — Income tax benefit 6 — The number of shares issued to each nonemployee director of HEI, Hawaiian Electric and ASB is determined based on the closing price of HEI common stock on the grant date. Restricted stock units. Information about HEI’s grants of restricted stock units was as follows: Three months ended March 31 2020 2019 Shares (1) Shares (1) Outstanding, beginning of period 207,641 $ 35.36 200,358 $ 33.05 Granted 77,679 48.11 94,559 37.68 Vested (77,719) 34.19 (76,712) 32.61 Forfeited (4,160) 35.81 (6,980) 33.18 Outstanding, end of period 203,441 $ 40.67 211,225 $ 35.28 Total weighted-average grant-date fair value of shares granted $ 3.7 $ 3.6 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. For the first three months of 2020 and 2019, total restricted stock units and related dividends that vested had a fair value of $4.2 million and $3.2 million, respectively, and the related tax benefits were $0.7 million and $0.5 million, respectively. As of March 31, 2020, there was $7.7 million of total unrecognized compensation cost related to the nonvested restricted stock units. The cost is expected to be recognized over a weighted-average period of 3.1 years. Long-term incentive plan payable in stock. The 2018-2020, 2019-2021 and 2020-2022 long-term incentive plans (LTIP) provide for performance awards under the EIP of shares of HEI common stock based on the satisfaction of performance goals, including a market condition goal. The number of shares of HEI common stock that may be awarded is fixed on the date the grants are made, subject to the achievement of specified performance levels and calculated dividend equivalents. The potential payout varies from 0% to 200% of the number of target shares, depending on the achievement of the goals. The market condition goal is based on HEI’s total shareholder return (TSR) compared to the Edison Electric Institute Index over the relevant three LTIP linked to TSR . Information about HEI’s LTIP grants linked to TSR was as follows: Three months ended March 31 2020 2019 Shares (1) Shares (1) Outstanding, beginning of period 96,402 $ 39.62 65,578 $ 38.81 Granted 24,630 48.62 34,647 41.07 Vested (issued or unissued and cancelled) (29,409) 39.51 — — Forfeited (1,007) 41.72 (1,914) 38.62 Outstanding, end of period 90,616 $ 42.08 98,311 $ 39.61 Total weighted-average grant-date fair value of shares granted (in millions) $ 1.2 $ 1.4 (1) Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model. The grant date fair values of the shares were determined using a Monte Carlo simulation model utilizing actual information for the common shares of HEI and its peers for the period from the beginning of the performance period to the grant date and estimated future stock volatility and dividends of HEI and its peers over the remaining three three three The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TSR and the resulting fair value of LTIP awards granted: 2020 2019 Risk-free interest rate 1.39 % 2.48 % Expected life in years 3 3 Expected volatility 13.1 % 15.8 % Range of expected volatility for Peer Group 13.6% to 95.4% 15.0% to 73.2% Grant date fair value (per share) $48.62 $41.07 For the three months ended March 31, 2020, total vested LTIP awards linked to TSR and related dividends had a fair value of $2.6 million and the related tax benefits were $0.4 million. There were no share-based LTIP awards linked to TSR with a vesting date in 2019. As of March 31, 2020, there was $2.2 million of total unrecognized compensation cost related to the nonvested performance awards payable in shares linked to TSR. The cost is expected to be recognized over a weighted-average period of 1.7 years. LTIP awards linked to other performance conditions . Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows: Three months ended March 31 2020 2019 Shares (1) Shares (1) Outstanding, beginning of period 403,768 $ 35.15 276,169 $ 33.80 Granted 98,522 48.10 138,580 37.68 Vested (135,804) 33.48 — — Increase above target (cancelled) (26,111) 34.13 — — Forfeited (4,031) 39.67 (7,659) 33.91 Outstanding, end of period 336,344 $ 39.64 407,090 $ 35.12 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ 4.7 $ 5.2 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. For the three months ended March 31, 2020, total vested LTIP awards linked to other performance conditions and related dividends had a fair value of $7.6 million and the related tax benefits were $1.2 million. There were no share-based LTIP awards linked to other performance conditions with a vesting date in 2019. As of March 31, 2020, there was $8.1 million of total unrecognized compensation cost related to the nonvested shares linked to performance conditions other than TSR. The cost is expected to be recognized over a weighted-average period of 1.7 years.

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income taxes	Income taxesThe Company’s and the Utilities’ effective tax rates (combined federal and state income tax rates) were 15% and 18%, respectively, for the three months ended March 31, 2020. These rates differed from the combined statutory rates, due primarily to the Utilities’ amortization of excess deferred income taxes related to the provision in the Tax Act that lowered the federal income tax rate from 35% to 21%, the tax benefits derived from the low income housing tax credit investments and the non-taxability of the bank-owned life insurance income. The Company’s and the Utilities’ effective tax rates were 20% and 22%, respectively, for the three months ended March 31, 2019.

Cash flows

Cash flows	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Cash flows	Cash flows Three months ended March 31 2020 2019 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 18 $ 21 Income taxes paid (including refundable credits) — 4 Income taxes refunded (including refundable credits) — 4 Hawaiian Electric consolidated Interest paid to non-affiliates 9 12 Income taxes paid (including refundable credits) — 5 Income taxes refunded (including refundable credits) — 4 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment-unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 32 36 Reduction of long-term debt from funds previously transferred for repayment (financing) 82 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 19 — Common stock issued (gross) for director and executive/management compensation (financing) 1 14 3 Real estate transferred from property, plant and equipment to other assets held-for-sale (investing) — 9 Hawaiian Electric consolidated Electric utility property, plant and equipment-unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 27 29 Reduction of long-term debt from funds previously transferred for repayment (financing) 82 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 16 — 1 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Fair value measurements

Fair value measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements Fair value measurement and disclosure valuation methodology. The following are descriptions of the valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial instruments not carried at fair value: Short-term borrowings—other than bank . The carrying amount of short-term borrowings approximated fair value because of the short maturity of these instruments. Investment securities . The fair value of ASB’s investment securities is determined quarterly through pricing obtained from independent third-party pricing services or from brokers not affiliated with the trade. Non-binding broker quotes are infrequent and generally occur for new securities that are settled close to the month-end pricing date. The third-party pricing vendors ASB uses for pricing its securities are reputable firms that provide pricing services on a global basis and have processes in place to ensure quality and control. The third-party pricing services use a variety of methods to determine the fair value of securities that fall under Level 2 of ASB’s fair value measurement hierarchy. Among the considerations are quoted prices for similar securities in an active market, yield spreads for similar trades, adjustments for liquidity, size, collateral characteristics, historic and generic prepayment speeds, and other observable market factors. To enhance the robustness of the pricing process, ASB will on a quarterly basis compare its standard third-party vendor’s price with that of another third-party vendor. If the prices are within an acceptable tolerance range, the price of the standard vendor will be accepted. If the variance is beyond the tolerance range, an evaluation will be conducted by ASB and a challenge to the price may be made. Fair value in such cases will be based on the value that best reflects the data and observable characteristics of the security. In all cases, the fair value used will have been independently determined by a third-party pricing vendor or non-affiliated broker. The fair value of the mortgage revenue bonds is estimated using a discounted cash flow model to calculate the present value of future principal and interest payments and, therefore is classified within Level 3 of the valuation hierarchy. Loans held for sale . Residential and commercial loans are carried at the lower of cost or market and are valued using market observable pricing inputs, which are derived from third party loan sales and, therefore, are classified within Level 2 of the valuation hierarchy. Loans held for investment . Fair value of loans held for investment is derived using a discounted cash flow approach which includes an evaluation of the underlying loan characteristics. The valuation model uses loan characteristics which includes product type, maturity dates and the underlying interest rate of the portfolio. This information is input into the valuation models along with various forecast valuation assumptions including prepayment forecasts, to determine the discount rate. These assumptions are derived from internal and third party sources. Since the valuation is derived from model-based techniques, ASB includes loans held for investment within Level 3 of the valuation hierarchy. Impaired loans . At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Fair value is determined primarily by using an income, cost or market approach and is normally provided through appraisals. Impaired loans carried at fair value generally receive specific allocations within the allowance for credit losses. For collateral-dependent loans, fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Generally, impaired loans are evaluated quarterly for additional impairment and adjusted accordingly. Real estate acquired in settlement of loans . Foreclosed assets are carried at fair value (less estimated costs to sell) and are generally based upon appraisals or independent market prices that are periodically updated subsequent to classification as real estate owned. Such adjustments typically result in a Level 3 classification of the inputs for determining fair value. ASB estimates the fair value of collateral-dependent loans and real estate owned using the sales comparison approach. Mortgage servicing rights . MSRs are capitalized at fair value based on market data at the time of sale and accounted for in subsequent periods at the lower of amortized cost or fair value. MSRs are evaluated for impairment at each reporting date. ASB's MSRs are stratified based on predominant risk characteristics of the underlying loans including loan type and note rate. For each stratum, fair value is calculated by discounting expected net income streams using discount rates that reflect industry pricing for similar assets. Expected net income streams are estimated based on industry assumptions regarding prepayment expectations and income and expenses associated with servicing residential mortgage loans for others. Impairment is recognized through a valuation allowance for each stratum when the carrying amount exceeds fair value, with any associated provision recorded as a component of loan servicing fees included in "Revenues - bank" in the consolidated statements of income. A direct write-down is recorded when the recoverability of the valuation allowance is deemed to be unrecoverable. ASB compares the fair value of MSRs to an estimated value calculated by an independent third-party. The third-party relies on both published and unpublished sources of market related assumptions and its own experience and expertise to arrive at a value. ASB uses the third-party value only to assess the reasonableness of its own estimate. Deposit liabilities . The fair value of fixed-maturity certificates of deposit was estimated by discounting the future cash flows using the rates currently offered for FHLB advances of similar remaining maturities. Deposit liabilities are classified in Level 2 of the valuation hierarchy. Other borrowings . For advances and repurchase agreements, fair value is estimated using quantitative discounted cash flow models that require the use of interest rate inputs that are currently offered for advances and repurchase agreements of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including broker market transactions and third party pricing services. Long-term debt—other than bank . Fair value of fixed-rate long-term debt—other than bank was obtained from third-party financial services providers based on the current rates offered for debt of the same or similar remaining maturities and from discounting the future cash flows using the current rates offered for debt of the same or similar risks, terms, and remaining maturities. The carrying amount of floating rate long-term debt—other than bank approximated fair value because of the short-term interest reset periods. Long-term debt—other than bank is classified in Level 2 of the valuation hierarchy. Interest rate lock commitments (IRLCs) . The estimated fair value of commitments to originate residential mortgage loans for sale is based on quoted prices for similar loans in active markets. IRLCs are classified as Level 2 measurements. Forward sales commitments . To be announced (TBA) mortgage-backed securities forward commitments are classified as Level 1, and consist of publicly-traded debt securities for which identical fair values can be obtained through quoted market prices in active exchange markets. The fair values of ASB’s mandatory delivery loan sale commitments are determined using quoted prices in the market place that are observable and are classified as Level 2 measurements. The following table presents the carrying or notional amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments. For stock in Federal Home Loan Bank, the carrying amount is a reasonable estimate of fair value because it can only be redeemed at par. Estimated fair value (in thousands) Carrying or notional amount Quoted prices in Significant Significant Total March 31, 2020 Financial assets HEI consolidated Available-for-sale investment securities $ 1,340,241 $ — $ 1,311,515 $ 28,726 $ 1,340,241 Held-to-maturity investment securities 134,656 — 142,570 — 142,570 Stock in Federal Home Loan Bank 9,760 — 9,760 — 9,760 Loans, net 5,122,003 — 18,155 5,287,943 5,306,098 Mortgage servicing rights 9,120 — — 10,350 10,350 Derivative assets 63,662 — 1,852 — 1,852 Financial liabilities HEI consolidated Deposit liabilities 791,665 — 797,075 — 797,075 Short-term borrowings—other than bank 99,956 — 99,956 — 99,956 Other bank borrowings 157,605 — 157,606 — 157,606 Long-term debt, net—other than bank 2,068,092 — 2,226,265 — 2,226,265 Derivative liabilities 74,800 585 4,575 — 5,160 Hawaiian Electric consolidated Short-term borrowings 99,956 — 99,956 — 99,956 Long-term debt, net 1,510,635 — 1,655,449 — 1,655,449 December 31, 2019 Financial assets HEI consolidated Available-for-sale investment securities $ 1,232,826 $ — $ 1,204,229 $ 28,597 $ 1,232,826 Held-to-maturity investment securities 139,451 — 143,467 — 143,467 Stock in Federal Home Loan Bank 8,434 — 8,434 — 8,434 Loans, net 5,080,107 — 12,295 5,145,242 5,157,537 Mortgage servicing rights 9,101 — — 12,379 12,379 Derivative assets 25,179 — 300 — 300 Financial liabilities HEI consolidated Deposit liabilities 769,825 — 765,976 — 765,976 Short-term borrowings—other than bank 185,710 — 185,710 — 185,710 Other bank borrowings 115,110 — 115,107 — 115,107 Long-term debt, net—other than bank 1,964,365 — 2,156,927 — 2,156,927 Derivative liabilities 51,375 33 2,185 — 2,218 Hawaiian Electric consolidated Short-term borrowings 88,987 — 88,987 — 88,987 Long-term debt, net 1,497,667 — 1,670,189 — 1,670,189 Fair value measurements on a recurring basis. Assets and liabilities measured at fair value on a recurring basis were as follows: March 31, 2020 December 31, 2019 Fair value measurements using Fair value measurements using (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Available-for-sale investment securities (bank segment) Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies $ — $ 1,141,452 $ — $ — $ 1,026,385 $ — U.S. Treasury and federal agency obligations — 110,293 — — 117,787 — Corporate bonds — 59,770 — — 60,057 — Mortgage revenue bonds — — 28,726 — — 28,597 $ — $ 1,311,515 $ 28,726 $ — $ 1,204,229 $ 28,597 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 1,852 $ — $ — $ 297 $ — Forward commitments (bank segment) 1 — — — — 3 — $ — $ 1,852 $ — $ — $ 300 $ — Derivative liabilities Forward commitments (bank segment) 1 $ 585 $ — $ — $ 33 $ 12 $ — Interest rate swap (Other segment) 2 — 4,575 — — 2,173 — $ 585 $ 4,575 $ — $ 33 $ 2,185 $ — 1 Derivatives are carried at fair value in other assets or other liabilities in the balance sheets with changes in value included in mortgage banking income. 2 Derivatives are included in other liabilities in the balance sheets. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: Three months ended March 31 Mortgage revenue bonds 2020 2019 (in thousands) Beginning balance $ 28,597 $ 23,636 Principal payments received — — Purchases 129 4,334 Unrealized gain (loss) included in other comprehensive income — — Ending balance $ 28,726 $ 27,970 ASB holds two mortgage revenue bonds issued by the Department of Budget and Finance of the State of Hawaii. The Company estimates the fair value by using a discounted cash flow model to calculate the present value of estimated future principal and interest payments. The unobservable input used in the fair value measurement is the weighted average discount rate. As of March 31, 2020, the weighted average discount rate was 2.99%, which was derived by incorporating a credit spread over the one month LIBOR rate. Significant increases (decreases) in the weighted average discount rate could result in a significantly lower (higher) fair value measurement. Fair value measurements on a nonrecurring basis. Certain assets and liabilities are measured at fair value on a nonrecurring basis and therefore are not included in the tables above. These measurements primarily result from assets carried at the lower of cost or fair value or from impairment of individual assets. The carrying value of assets measured at fair value on a nonrecurring basis were as follows: Fair value measurements using (in thousands) Balance Level 1 Level 2 Level 3 March 31, 2020 Loans $ — $ — $ — $ — December 31, 2019 Loans 25 — — 25 For the three months ended March 31, 2020 and 2019, there were no adjustments to fair value for ASB’s loans held for sale. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis: Significant unobservable input value (1) ($ in thousands) Fair value Valuation technique Significant unobservable input Range Weighted December 31, 2019 Residential land $ 25 Fair value of property or collateral Appraised value less 7% selling cost N/A (2) N/A (2) Total loans $ 25 (1) Represents percent of outstanding principal balance. (2) N/A - Not applicable. There is one asset in each fair value measurement type. Significant increases (decreases) in any of those inputs in isolation would result in significantly higher (lower) fair value measurements.

Basis of presentation (Policies

Basis of presentation (Policies)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent accounting pronouncements	Credit losses . In June 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which replaces the incurred loss methodology with an expected loss methodology. The new methodology is referred to as the current expected credit loss (CECL) methodology and will apply to financial assets subject to credit losses and measured at amortized cost and certain off-balance sheet credit exposures. This includes, but is not limited to loans, loan commitments and held-to-maturity securities. In addition, ASU No. 2016-13 amends the accounting for credit losses on available-for-sale (AFS) debt securities and purchased financial assets with credit deterioration. The other-than-temporary impairment model of accounting for credit losses on AFS debt securities will be replaced with an estimate of expected credit losses only when the fair value is below the amortized cost of the asset. The length of time the fair value of an AFS debt security has been below the amortized cost will no longer impact the determination of whether a credit loss exists. The AFS debt security model requires the use of an allowance to record the estimated losses (and subsequent recoveries). The Company adopted ASU No. 2016-13 on January 1, 2020 using the modified retrospective method with the cumulative effect of initially applying the amendments recognized in retained earnings as of January 1, 2020. The CECL models use a probability-of-default, loss given default and exposure at default methodology to estimate the expected credit losses. Within each model or calculation, loans are further segregated based on additional risk characteristics specific to that loan type, such as risk rating, FICO score, bankruptcy score, age of loan and collateral. The Company uses both internal and external historical data, as appropriate, and a blend of economic forecasts to estimate credit losses over a reasonable and supportable forecast period and then reverts to a longer-term historical loss experience to arrive at lifetime expected credit losses. The reversion period incorporates forward-looking expectations about repayments (including prepayments) as determined by the Company’s asset liability management system. The Company elected not to measure an allowance for credit losses for accrued interest as it reverses uncollectible accrued interest through interest income in a timely manner and to continue to report accrued interest within other assets in the balance sheets with the adoption of ASU No. 2019-04, “Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments.” See Codification Improvements below for a description of ASU No. 2019-04. The allowance for credit losses (ACL) is a material estimate of the Company. As a result of the change from an incurred loss model to a methodology that considers the credit loss over the expected life of the loan, on January 1, 2020, the Company recorded an adjustment of $21 million to increase the ACL, including a $2 million increase in the allowance for loan commitments, with a corresponding adjustment to reduce retained earnings by $15 million on an after tax basis . The ACL is based on the composition, characteristics and quality of the loans and off balance sheet credit exposures as well as the prevailing economic conditions as of the adoption date. The increase in the ACL primarily relates to required reserves for residential mortgages and consumer loans, due to the requirement to estimate lifetime expected credit losses, with lower ACL requirements for commercial and commercial real estate loans due to their short-term nature. Based on the credit quality of the Company’s existing held-to-maturity and AFS investment securities portfolio, the Company did not recognize an ACL at adoption for those investments. The adoption of the new standard did not have a material impact to the Utilities’ customer and other accounts receivables and accrued unbilled revenue. Results for reporting periods beginning after January 1, 2020 are presented under ASU No. 2016-13 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The table below summarizes the impact of the Company’s adoption of ASU No. 2016-13. January 1, 2020 (in thousands) Pre-ASU No. 2016-13 adoption Impact of ASU No. 2016-13 As reported under ASU No. 2016-13 HEI consolidated Loans held for investments, net 1 $ 5,067,821 $ (19,441) $ 5,048,380 Total assets $ 13,745,251 $ (19,441) $ 13,725,810 Deferred income taxes $ 379,324 $ (5,628) $ 373,696 Other 1 583,545 1,559 585,104 Total liabilities 11,430,698 (4,069) 11,426,629 Retained earnings 622,042 (15,372) 606,670 Total shareholders’ equity 2,280,260 (15,372) 2,264,888 Total liabilities and shareholders’ equity $ 13,745,251 $ (19,441) $ 13,725,810 1 The allowance for credit losses is classified in “Loans held for investments, net,” and the allowance for loan commitments is classified in “Other” liabilities in the Company’s condensed consolidated balance sheets. Codification Improvements . In April 2019, the FASB issued ASU No. 2019-04, “Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments,” which is intended to clarify certain issues related to the accounting for financial instruments. • With respect to Topic 326, Financial Instruments - Credit Losses , ASU No. 2019-04 allows entities to measure the allowance for credit losses on accrued interest receivable balances separately from other components of the amortized cost basis of associated financial assets, or to make an accounting policy election not to measure an allowance for credit losses on accrued interest receivable amounts if an entity writes off the uncollectible accrued interest receivable balance in a timely manner and makes certain disclosures. ASU No. 2019-04 also allows an entity to make an accounting policy election regarding the presentation and disclosure of accrued interest receivables and the related allowance for credit losses for those accrued interest receivables. ASU No. 2019-04 also clarifies certain issues related to transfers between classifications or categories for loans and debt securities, recoveries, variable interest rates and prepayments, vintage disclosures, and contractual extensions and renewal options. • With respect to Topic 815, Derivatives and Hedging , ASU No. 2019-04 provides amendments, among others, that address partial-term fair value hedges, fair value hedge basis adjustments, and certain transition requirements. • With respect to Topic 825, Financial Instruments , ASU No. 2019-04 clarifies the scope of the guidance and disclosure requirements with respect to recognizing and measuring financial instruments. The amended guidance in ASU No. 2019-04 is effective for fiscal years and interim periods beginning after December 15, 2019, with early adoption permitted. The Company adopted ASU No. 2019-04 in the first quarter of 2020 and elected not to measure an allowance for credit losses for accrued interest as it reverses uncollectible accrued interest through interest income in a timely manner and to continue to report accrued interest within other assets in the balance sheets. The impact of the ASU on the Company’s consolidated financial statements was not material.
Troubled debt restructurings	Troubled debt restructurings. A loan modification is deemed to be a TDR when the borrower is determined to be experiencing financial difficulties and ASB grants a concession it would not otherwise consider. The allowance for credit losses on TDR loans that do not share risk characteristics are individually evaluated based on the present value of expected future cash flows discounted at the loan’s effective original contractual rate or based on the fair value of collateral less cost to sell. The financial impact of the estimated loss is an increase to the allowance associated with the modified loan. When available information confirms that specific loans or portions thereof are uncollectible (confirmed losses), these amounts are charged off against the allowance for credit losses.

Basis of presentation (Tables)

Basis of presentation (Tables)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of impact of adoption of new accounting principle	The table below summarizes the impact of the Company’s adoption of ASU No. 2016-13. January 1, 2020 (in thousands) Pre-ASU No. 2016-13 adoption Impact of ASU No. 2016-13 As reported under ASU No. 2016-13 HEI consolidated Loans held for investments, net 1 $ 5,067,821 $ (19,441) $ 5,048,380 Total assets $ 13,745,251 $ (19,441) $ 13,725,810 Deferred income taxes $ 379,324 $ (5,628) $ 373,696 Other 1 583,545 1,559 585,104 Total liabilities 11,430,698 (4,069) 11,426,629 Retained earnings 622,042 (15,372) 606,670 Total shareholders’ equity 2,280,260 (15,372) 2,264,888 Total liabilities and shareholders’ equity $ 13,745,251 $ (19,441) $ 13,725,810 1 The allowance for credit losses is classified in “Loans held for investments, net,” and the allowance for loan commitments is classified in “Other” liabilities in the Company’s condensed consolidated balance sheets.

Segment financial information (

Segment financial information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of segment financial information	(in thousands) Electric utility Bank Other Total Three months ended March 31, 2020 Revenues from external customers $ 597,430 $ 79,738 $ 18 $ 677,186 Intersegment revenues (eliminations) 12 — (12) — Revenues $ 597,442 $ 79,738 $ 6 $ 677,186 Income (loss) before income taxes $ 29,686 $ 18,969 $ (8,959) $ 39,696 Income taxes (benefit) 5,282 3,208 (2,687) 5,803 Net income (loss) 24,404 15,761 (6,272) 33,893 Preferred stock dividends of subsidiaries 499 — (26) 473 Net income (loss) for common stock $ 23,905 $ 15,761 $ (6,246) $ 33,420 Total assets (at March 31, 2020) $ 6,335,928 $ 7,385,745 $ 127,345 $ 13,849,018 Three months ended March 31, 2019 Revenues from external customers $ 578,482 $ 83,052 $ 81 $ 661,615 Intersegment revenues (eliminations) 13 — (13) — Revenues $ 578,495 $ 83,052 $ 68 $ 661,615 Income (loss) before income taxes $ 41,859 $ 26,162 $ (9,982) $ 58,039 Income taxes (benefit) 9,234 5,323 (2,679) 11,878 Net income (loss) 32,625 20,839 (7,303) 46,161 Preferred stock dividends of subsidiaries 499 — (26) 473 Net income (loss) for common stock $ 32,126 $ 20,839 $ (7,277) $ 45,688 Total assets (at December 31, 2019) $ 6,388,682 $ 7,233,017 $ 123,552 $ 13,745,251

Electric utility segment (Table

Electric utility segment (Tables)	3 Months Ended
	Mar. 31, 2020
Regulatory Projects and Legal Obligations [Line Items]
Schedule of condensed consolidating statements of income (loss)	Statements of Income and Comprehensive Income Data Three months ended March 31 (in thousands) 2020 2019 Interest and dividend income Interest and fees on loans $ 55,545 $ 57,860 Interest and dividends on investment securities 9,430 10,628 Total interest and dividend income 64,975 68,488 Interest expense Interest on deposit liabilities 3,587 4,252 Interest on other borrowings 313 528 Total interest expense 3,900 4,780 Net interest income 61,075 63,708 Provision for credit losses 10,401 6,870 Net interest income after provision for credit losses 50,674 56,838 Noninterest income Fees from other financial services 4,571 4,562 Fee income on deposit liabilities 5,113 5,078 Fee income on other financial products 1,872 1,593 Bank-owned life insurance 794 2,259 Mortgage banking income 2,000 614 Other income, net 413 458 Total noninterest income 14,763 14,564 Noninterest expense Compensation and employee benefits 25,777 25,512 Occupancy 5,267 4,670 Data processing 3,837 3,738 Services 2,809 2,426 Equipment 2,339 2,064 Office supplies, printing and postage 1,341 1,360 Marketing 802 990 FDIC insurance 102 626 Other expense 4,194 3,854 Total noninterest expense 46,468 45,240 Income before income taxes 18,969 26,162 Income taxes 3,208 5,323 Net income 15,761 20,839 Other comprehensive income, net of taxes 19,847 6,252 Comprehensive income $ 35,608 $ 27,091 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended March 31 (in thousands) 2020 2019 Interest and dividend income $ 64,975 $ 68,488 Noninterest income 14,763 14,564 *Revenues-Bank 79,738 83,052 Total interest expense 3,900 4,780 Provision for credit losses 10,401 6,870 Noninterest expense 46,468 45,240 Less: Retirement defined benefits gain (expense)—other than service costs (434) 40 *Expenses-Bank 60,335 56,930 *Operating income-Bank 19,403 26,122 Add back: Retirement defined benefits (gain) expense—other than service costs 434 (40) Income before income taxes $ 18,969 $ 26,162
Schedule of condensed consolidating balance sheet	Balance Sheets Data (in thousands) March 31, 2020 December 31, 2019 Assets Cash and due from banks $ 186,897 $ 129,770 Interest-bearing deposits 2,635 48,628 Investment securities Available-for-sale, at fair value 1,340,241 1,232,826 Held-to-maturity, at amortized cost (fair value of $142,570 and $143,467, respectively) 134,656 139,451 Stock in Federal Home Loan Bank, at cost 9,760 8,434 Loans held for investment 5,180,932 5,121,176 Allowance for credit losses (77,084) (53,355) Net loans 5,103,848 5,067,821 Loans held for sale, at lower of cost or fair value 18,155 12,286 Other 507,363 511,611 Goodwill 82,190 82,190 Total assets $ 7,385,745 $ 7,233,017 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,969,694 $ 1,909,682 Deposit liabilities—interest-bearing 4,414,089 4,362,220 Other borrowings 157,605 115,110 Other 152,365 146,954 Total liabilities 6,693,753 6,533,966 Commitments and contingencies Common stock 1 1 Additional paid-in capital 350,158 349,453 Retained earnings 330,648 358,259 Accumulated other comprehensive loss, net of tax benefits Net unrealized gains on securities $ 21,929 $ 2,481 Retirement benefit plans (10,744) 11,185 (11,143) (8,662) Total shareholder’s equity 691,992 699,051 Total liabilities and shareholder’s equity $ 7,385,745 $ 7,233,017 Other assets Bank-owned life insurance $ 158,269 $ 157,465 Premises and equipment, net 203,622 204,449 Accrued interest receivable 19,490 19,365 Mortgage-servicing rights 9,120 9,101 Low-income housing investments 63,967 66,302 Real estate acquired in settlement of loans, net 139 — Other 52,756 54,929 $ 507,363 $ 511,611 Other liabilities Accrued expenses $ 38,928 $ 45,822 Federal and state income taxes payable 17,138 14,996 Cashier’s checks 32,372 23,647 Advance payments by borrowers 5,919 10,486 Other 58,008 52,003 $ 152,365 $ 146,954
Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory Projects and Legal Obligations [Line Items]
Schedule of purchases from all IPPs	Purchases from all IPPs were as follows: Three months ended March 31 (in millions) 2020 2019 Kalaeloa $ 38 $ 40 AES Hawaii 31 32 HPOWER 17 18 Hamakua Energy 13 16 Wind IPPs 28 20 Solar IPPs 11 7 Other IPPs 1 2 1 Total IPPs $ 140 $ 134
Schedule of net annual incremental amounts proposed to be collected (refunded)	The net annual incremental amounts proposed to be collected (refunded) from June 1, 2020 through May 31, 2021 are as follows: (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Total 2020 Annual incremental RAM adjusted revenues, net of changes in Tax Act adjustment $ 20.6 $ 3.2 $ 5.7 $ 29.5 Annual change in accrued RBA balance as of December 31, 2019 (and associated revenue taxes) which incorporates MPIR recovery (46.5) (9.9) (11.0) (67.4) Incremental Performance Incentive Mechanisms (net) 2.2 (0.1) (0.1) 2.0 Net annual incremental amount to be collected (refunded) under the tariffs $ (23.7) $ (6.8) $ (5.4) $ (35.9)
Schedule of condensed consolidating statements of income (loss)	Condensed Consolidating Statement of Income Three months ended March 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 421,166 89,293 87,198 — (215) $ 597,442 Expenses Fuel oil 120,535 22,432 30,254 — — 173,221 Purchased power 107,951 19,521 12,344 — — 139,816 Other operation and maintenance 85,637 19,104 22,806 — — 127,547 Depreciation 38,011 9,760 8,079 — — 55,850 Taxes, other than income taxes 40,501 8,342 8,207 — — 57,050 Total expenses 392,635 79,159 81,690 — — 553,484 Operating income 28,531 10,134 5,508 — (215) 43,958 Allowance for equity funds used during construction 1,743 119 153 — — 2,015 Equity in earnings of subsidiaries 8,804 — — — (8,804) — Retirement defined benefits expense—other than service costs (546) 194 (29) — — (381) Interest expense and other charges, net (12,002) (2,484) (2,323) — 215 (16,594) Allowance for borrowed funds used during construction 602 36 50 — — 688 Income before income taxes 27,132 7,999 3,359 — (8,804) 29,686 Income taxes 2,957 1,798 527 5,282 Net income 24,175 6,201 2,832 — (8,804) 24,404 Preferred stock dividends of subsidiaries — 134 95 — 229 Net income attributable to Hawaiian Electric 24,175 6,067 2,737 — (8,804) 24,175 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 23,905 6,067 2,737 — (8,804) $ 23,905 Condensed Consolidating Statement of Income Three months ended March 31, 2019 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 405,669 87,205 85,653 — (32) $ 578,495 Expenses Fuel oil 108,922 20,842 30,845 — — 160,609 Purchased power 105,223 19,177 10,045 — — 134,445 Other operation and maintenance 81,178 18,736 18,216 — — 118,130 Depreciation 35,867 10,453 7,627 — — 53,947 Taxes, other than income taxes 38,631 8,105 8,068 — — 54,804 Total expenses 369,821 77,313 74,801 — — 521,935 Operating income 35,848 9,892 10,852 — (32) 56,560 Allowance for equity funds used during construction 2,447 132 331 — — 2,910 Equity in earnings of subsidiaries 11,849 — — — (11,849) — Retirement defined benefits expense—other than service costs (567) (106) (30) — — (703) Interest expense and other charges, net (12,800) (2,901) (2,317) — 32 (17,986) Allowance for borrowed funds used during construction 902 56 120 — — 1,078 Income before income taxes 37,679 7,073 8,956 — (11,849) 41,859 Income taxes 5,283 1,770 2,181 — — 9,234 Net income 32,396 5,303 6,775 — (11,849) 32,625 Preferred stock dividends of subsidiaries — 134 95 — — 229 Net income attributable to Hawaiian Electric 32,396 5,169 6,680 — (11,849) 32,396 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 32,126 5,169 6,680 — (11,849) $ 32,126
Schedule of condensed consolidating statement of comprehensive income	Condensed Consolidating Statement of Comprehensive Income Three months ended March 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net income for common stock $ 23,905 6,067 2,737 — (8,804) $ 23,905 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 5,184 748 652 — (1,400) 5,184 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (5,158) (747) (652) — 1,399 (5,158) Other comprehensive income, net of taxes 26 1 — — (1) 26 Comprehensive income attributable to common shareholder $ 23,931 6,068 2,737 — (8,805) $ 23,931 Condensed Consolidating Statement of Comprehensive Income Three months ended March 31, 2019 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net income for common stock $ 32,126 5,169 6,680 — (11,849) $ 32,126 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 2,322 352 289 — (641) 2,322 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (2,298) (351) (289) — 640 (2,298) Other comprehensive income, net of taxes 24 1 — — (1) 24 Comprehensive income attributable to common shareholder $ 32,150 5,170 6,680 — (11,850) $ 32,150
Schedule of condensed consolidating balance sheet	Condensed Consolidating Balance Sheet March 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,389 5,606 3,612 — — $ 51,607 Plant and equipment 4,821,180 1,317,355 1,167,120 — — 7,305,655 Less accumulated depreciation (1,614,651) (581,038) (530,414) — — (2,726,103) Construction in progress 164,467 12,530 22,532 — — 199,529 Utility property, plant and equipment, net 3,413,385 754,453 662,850 — — 4,830,688 Nonutility property, plant and equipment, less accumulated depreciation 5,309 115 1,532 — — 6,956 Total property, plant and equipment, net 3,418,694 754,568 664,382 — — 4,837,644 Investment in wholly owned subsidiaries, at equity 593,097 — — — (593,097) — Current assets Cash and cash equivalents 4,589 4,654 3,065 101 — 12,409 Restricted cash 30,902 — — — — 30,902 Advances to affiliates 44,700 — — — (44,700) — Customer accounts receivable, net 113,999 23,327 21,354 — — 158,680 Accrued unbilled revenues, net 81,468 16,468 15,844 — — 113,780 Other accounts receivable, net 17,593 2,596 2,327 — (11,269) 11,247 Fuel oil stock, at average cost 65,688 8,684 15,155 — — 89,527 Materials and supplies, at average cost 35,006 9,153 17,039 — — 61,198 Prepayments and other 28,445 3,816 5,222 — (1,576) 35,907 Regulatory assets 25,490 1,928 1,549 — — 28,967 Total current assets 447,880 70,626 81,555 101 (57,545) 542,617 Other long-term assets Operating lease right-of-use assets 175,205 1,514 378 — — 177,097 Regulatory assets 466,795 105,956 96,926 — — 669,677 Other 73,796 17,316 17,781 — — 108,893 Total other long-term assets 715,796 124,786 115,085 — — 955,667 Total assets $ 5,175,467 949,980 861,022 101 (650,642) $ 6,335,928 Capitalization and liabilities Capitalization Common stock equity $ 2,044,499 300,986 292,010 101 (593,097) $ 2,044,499 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,101,614 206,437 188,587 — — 1,496,638 Total capitalization 3,168,406 514,423 485,597 101 (593,097) 3,575,430 Current liabilities Current portion of operating lease liabilities 63,616 96 31 — — 63,743 Current portion of long-term debt — 13,997 — — — 13,997 Short-term borrowings from non-affiliates 99,956 — — — — 99,956 Short-term borrowings from affiliate — 2,500 42,200 — (44,700) — Accounts payable 113,932 14,401 17,602 — — 145,935 Interest and preferred dividends payable 20,095 3,806 4,129 — (89) 27,941 Taxes accrued 109,383 26,846 24,338 — (1,576) 158,991 Regulatory liabilities 19,762 12,813 10,136 — — 42,711 Other 50,411 11,196 15,321 — (11,180) 65,748 Total current liabilities 477,155 85,655 113,757 — (57,545) 619,022 Deferred credits and other liabilities Operating lease liabilities 117,183 1,418 352 — — 118,953 Deferred income taxes 269,478 53,374 58,017 — — 380,869 Regulatory liabilities 670,187 178,479 98,593 — — 947,259 Unamortized tax credits 84,309 15,985 14,584 — — 114,878 Defined benefit pension and other postretirement benefit plans liability 333,716 68,756 68,339 — — 470,811 Other 55,033 31,890 21,783 — — 108,706 Total deferred credits and other liabilities 1,529,906 349,902 261,668 — — 2,141,476 Total capitalization and liabilities $ 5,175,467 949,980 861,022 101 (650,642) $ 6,335,928 Condensed Consolidating Balance Sheet December 31, 2019 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,598 5,606 3,612 — — $ 51,816 Plant and equipment 4,765,362 1,313,727 1,161,199 — — 7,240,288 Less accumulated depreciation (1,591,241) (574,615) (524,301) — — (2,690,157) Construction in progress 165,137 9,993 17,944 — — 193,074 Utility property, plant and equipment, net 3,381,856 754,711 658,454 — — 4,795,021 Nonutility property, plant and equipment, less accumulated depreciation 5,310 114 1,532 — — 6,956 Total property, plant and equipment, net 3,387,166 754,825 659,986 — — 4,801,977 Investment in wholly owned subsidiaries, at equity 591,969 — — — (591,969) — Current assets Cash and cash equivalents 2,239 6,885 1,797 101 — 11,022 Restricted cash 30,749 123 — — — 30,872 Advances to affiliates 27,700 8,000 — — (35,700) — Customer accounts receivable, net 105,454 24,520 22,816 — — 152,790 Accrued unbilled revenues, net 83,148 17,071 17,008 — — 117,227 Other accounts receivable, net 18,396 1,907 1,960 — (10,695) 11,568 Fuel oil stock, at average cost 69,003 8,901 14,033 — — 91,937 Materials and supplies, at average cost 34,876 8,313 17,513 — — 60,702 Prepayments and other 88,334 3,725 24,921 — — 116,980 Regulatory assets 27,689 1,641 1,380 — — 30,710 Total current assets 487,588 81,086 101,428 101 (46,395) 623,808 Other long-term assets Operating lease right-of-use assets 174,886 1,537 386 — — 176,809 Regulatory assets 476,390 109,163 98,817 — — 684,370 Other 69,010 15,493 17,215 — — 101,718 Total other long-term assets 720,286 126,193 116,418 — — 962,897 Total assets $ 5,187,009 962,104 877,832 101 (638,364) $ 6,388,682 Capitalization and liabilities Capitalization Common stock equity $ 2,047,352 298,998 292,870 101 (591,969) $ 2,047,352 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,006,737 206,416 188,561 — — 1,401,714 Total capitalization 3,076,382 512,414 486,431 101 (591,969) 3,483,359 Current liabilities Current portion of operating lease liabilities 63,582 94 31 — — 63,707 Current portion of long-term debt 61,958 13,995 20,000 — — 95,953 Short-term borrowings-non-affiliate 88,987 — — — — 88,987 Short-term borrowings-affiliate 8,000 — 27,700 — (35,700) — Accounts payable 139,056 25,629 23,085 — — 187,770 Interest and preferred dividends payable 14,759 3,115 2,900 — (46) 20,728 Taxes accrued 143,522 32,541 31,929 — — 207,992 Regulatory liabilities 13,363 9,454 7,907 — — 30,724 Other 51,295 11,362 15,297 — (10,649) 67,305 Total current liabilities 584,522 96,190 128,849 — (46,395) 763,166 Deferred credits and other liabilities Operating lease liabilities 111,598 1,442 360 — — 113,400 Deferred income taxes 265,864 53,534 57,752 — — 377,150 Regulatory liabilities 664,894 178,474 98,218 — — 941,586 Unamortized tax credits 86,852 16,196 14,820 — — 117,868 Defined benefit pension and other postretirement benefit plans liability 339,471 69,928 69,364 — — 478,763 Other 57,426 33,926 22,038 — — 113,390 Total deferred credits and other liabilities 1,526,105 353,500 262,552 — — 2,142,157 Total capitalization and liabilities $ 5,187,009 962,104 877,832 101 (638,364) $ 6,388,682
Schedule of condensed consolidating statement of changes in common stock equity	Condensed Consolidating Statement of Changes in Common Stock Equity Three months ended March 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Balance, December 31, 2019 $ 2,047,352 298,998 292,870 101 (591,969) $ 2,047,352 Net income for common stock 23,905 6,067 2,737 — (8,804) 23,905 Other comprehensive income, net of taxes 26 1 — — (1) 26 Common stock dividends (26,784) (4,080) (3,596) — 7,676 (26,784) Common stock issuance expenses — — (1) — 1 — Balance, March 31, 2020 $ 2,044,499 300,986 292,010 101 (593,097) $ 2,044,499 Condensed Consolidating Statement of Changes in Common Stock Equity Three months ended March 31, 2019 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Balance, December 31, 2018 $ 1,957,641 295,874 280,863 101 (576,838) $ 1,957,641 Net income for common stock 32,126 5,169 6,680 — (11,849) 32,126 Other comprehensive income, net of taxes 24 1 — — (1) 24 Common stock dividends (25,313) (2,545) (3,767) — 6,312 (25,313) Common stock issuance expenses — (2) — — 2 — Balance, March 31, 2019 $ 1,964,478 298,497 283,776 101 (582,374) $ 1,964,478
Schedule of condensed consolidating statement of cash flows	Condensed Consolidating Statement of Cash Flows Three months ended March 31, 2020 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net cash provided by operating activities $ 29,004 9,478 7,931 — (7,272) $ 39,141 Cash flows from investing activities Capital expenditures (83,191) (18,181) (17,772) — — (119,144) Advances from (to) affiliates (17,000) 8,000 — — 9,000 — Other 2,752 64 301 — (404) 2,713 Net cash used in investing activities (97,439) (10,117) (17,471) — 8,596 (116,431) Cash flows from financing activities Common stock dividends (26,784) (4,080) (3,596) — 7,676 (26,784) Preferred stock dividends of Hawaiian Electric and subsidiaries (270) (134) (95) — — (499) Proceeds from issuance of short-term debt 50,000 — — — — 50,000 Proceeds from issuance of long-term debt 95,000 — — — — 95,000 Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less (46,987) 2,500 14,500 — (9,000) (38,987) Other (21) (1) (1) — — (23) Net cash provided by (used in) financing activities 70,938 (1,715) 10,808 — (1,324) 78,707 Net increase (decrease) in cash and cash equivalents 2,503 (2,354) 1,268 — — 1,417 Cash, cash equivalents and restricted cash, beginning of period 32,988 7,008 1,797 101 — 41,894 Cash, cash equivalents and restricted cash, end of period 35,491 4,654 3,065 101 — 43,311 Less: Restricted cash (30,902) — — — — (30,902) Cash and cash equivalents, end of period $ 4,589 4,654 3,065 101 — $ 12,409 Condensed Consolidating Statement of Cash Flows Three months ended March 31, 2019 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net cash provided by operating activities $ 58,145 8,745 8,837 — (6,311) $ 69,416 Cash flows from investing activities Capital expenditures (78,220) (8,371) (16,300) — — (102,891) Advances to affiliates (9,500) (9,200) — — 18,700 — Other 1,221 (293) (134) — — 794 Net cash used in investing activities (86,499) (17,864) (16,434) — 18,700 (102,097) Cash flows from financing activities Common stock dividends (25,313) (2,544) (3,767) — 6,311 (25,313) Preferred stock dividends of Hawaiian Electric and subsidiaries (270) (134) (95) — — (499) Proceeds from issuance of short-term debt 25,000 — — — — 25,000 Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less 15,199 — 9,500 — (18,700) 5,999 Other — (1) (1) — — (2) Net cash provided by (used in) financing activities 14,616 (2,679) 5,637 — (12,389) 5,185 Net decrease in cash and cash equivalents (13,738) (11,798) (1,960) — — (27,496) Cash and cash equivalents, beginning of period 16,732 15,623 3,421 101 — 35,877 Cash and cash equivalents, end of period $ 2,994 3,825 1,461 101 — $ 8,381

Bank segment (Tables)

Bank segment (Tables)	3 Months Ended
	Mar. 31, 2020
Bank Subsidiary [Abstract]
Schedule of statements of income data	Statements of Income and Comprehensive Income Data Three months ended March 31 (in thousands) 2020 2019 Interest and dividend income Interest and fees on loans $ 55,545 $ 57,860 Interest and dividends on investment securities 9,430 10,628 Total interest and dividend income 64,975 68,488 Interest expense Interest on deposit liabilities 3,587 4,252 Interest on other borrowings 313 528 Total interest expense 3,900 4,780 Net interest income 61,075 63,708 Provision for credit losses 10,401 6,870 Net interest income after provision for credit losses 50,674 56,838 Noninterest income Fees from other financial services 4,571 4,562 Fee income on deposit liabilities 5,113 5,078 Fee income on other financial products 1,872 1,593 Bank-owned life insurance 794 2,259 Mortgage banking income 2,000 614 Other income, net 413 458 Total noninterest income 14,763 14,564 Noninterest expense Compensation and employee benefits 25,777 25,512 Occupancy 5,267 4,670 Data processing 3,837 3,738 Services 2,809 2,426 Equipment 2,339 2,064 Office supplies, printing and postage 1,341 1,360 Marketing 802 990 FDIC insurance 102 626 Other expense 4,194 3,854 Total noninterest expense 46,468 45,240 Income before income taxes 18,969 26,162 Income taxes 3,208 5,323 Net income 15,761 20,839 Other comprehensive income, net of taxes 19,847 6,252 Comprehensive income $ 35,608 $ 27,091 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended March 31 (in thousands) 2020 2019 Interest and dividend income $ 64,975 $ 68,488 Noninterest income 14,763 14,564 *Revenues-Bank 79,738 83,052 Total interest expense 3,900 4,780 Provision for credit losses 10,401 6,870 Noninterest expense 46,468 45,240 Less: Retirement defined benefits gain (expense)—other than service costs (434) 40 *Expenses-Bank 60,335 56,930 *Operating income-Bank 19,403 26,122 Add back: Retirement defined benefits (gain) expense—other than service costs 434 (40) Income before income taxes $ 18,969 $ 26,162
Schedule of statements of comprehensive income data	Statements of Income and Comprehensive Income Data Three months ended March 31 (in thousands) 2020 2019 Interest and dividend income Interest and fees on loans $ 55,545 $ 57,860 Interest and dividends on investment securities 9,430 10,628 Total interest and dividend income 64,975 68,488 Interest expense Interest on deposit liabilities 3,587 4,252 Interest on other borrowings 313 528 Total interest expense 3,900 4,780 Net interest income 61,075 63,708 Provision for credit losses 10,401 6,870 Net interest income after provision for credit losses 50,674 56,838 Noninterest income Fees from other financial services 4,571 4,562 Fee income on deposit liabilities 5,113 5,078 Fee income on other financial products 1,872 1,593 Bank-owned life insurance 794 2,259 Mortgage banking income 2,000 614 Other income, net 413 458 Total noninterest income 14,763 14,564 Noninterest expense Compensation and employee benefits 25,777 25,512 Occupancy 5,267 4,670 Data processing 3,837 3,738 Services 2,809 2,426 Equipment 2,339 2,064 Office supplies, printing and postage 1,341 1,360 Marketing 802 990 FDIC insurance 102 626 Other expense 4,194 3,854 Total noninterest expense 46,468 45,240 Income before income taxes 18,969 26,162 Income taxes 3,208 5,323 Net income 15,761 20,839 Other comprehensive income, net of taxes 19,847 6,252 Comprehensive income $ 35,608 $ 27,091 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended March 31 (in thousands) 2020 2019 Interest and dividend income $ 64,975 $ 68,488 Noninterest income 14,763 14,564 *Revenues-Bank 79,738 83,052 Total interest expense 3,900 4,780 Provision for credit losses 10,401 6,870 Noninterest expense 46,468 45,240 Less: Retirement defined benefits gain (expense)—other than service costs (434) 40 *Expenses-Bank 60,335 56,930 *Operating income-Bank 19,403 26,122 Add back: Retirement defined benefits (gain) expense—other than service costs 434 (40) Income before income taxes $ 18,969 $ 26,162
Schedule of balance sheets data	Balance Sheets Data (in thousands) March 31, 2020 December 31, 2019 Assets Cash and due from banks $ 186,897 $ 129,770 Interest-bearing deposits 2,635 48,628 Investment securities Available-for-sale, at fair value 1,340,241 1,232,826 Held-to-maturity, at amortized cost (fair value of $142,570 and $143,467, respectively) 134,656 139,451 Stock in Federal Home Loan Bank, at cost 9,760 8,434 Loans held for investment 5,180,932 5,121,176 Allowance for credit losses (77,084) (53,355) Net loans 5,103,848 5,067,821 Loans held for sale, at lower of cost or fair value 18,155 12,286 Other 507,363 511,611 Goodwill 82,190 82,190 Total assets $ 7,385,745 $ 7,233,017 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,969,694 $ 1,909,682 Deposit liabilities—interest-bearing 4,414,089 4,362,220 Other borrowings 157,605 115,110 Other 152,365 146,954 Total liabilities 6,693,753 6,533,966 Commitments and contingencies Common stock 1 1 Additional paid-in capital 350,158 349,453 Retained earnings 330,648 358,259 Accumulated other comprehensive loss, net of tax benefits Net unrealized gains on securities $ 21,929 $ 2,481 Retirement benefit plans (10,744) 11,185 (11,143) (8,662) Total shareholder’s equity 691,992 699,051 Total liabilities and shareholder’s equity $ 7,385,745 $ 7,233,017 Other assets Bank-owned life insurance $ 158,269 $ 157,465 Premises and equipment, net 203,622 204,449 Accrued interest receivable 19,490 19,365 Mortgage-servicing rights 9,120 9,101 Low-income housing investments 63,967 66,302 Real estate acquired in settlement of loans, net 139 — Other 52,756 54,929 $ 507,363 $ 511,611 Other liabilities Accrued expenses $ 38,928 $ 45,822 Federal and state income taxes payable 17,138 14,996 Cashier’s checks 32,372 23,647 Advance payments by borrowers 5,919 10,486 Other 58,008 52,003 $ 152,365 $ 146,954
Schedule of the book value and aggregate fair value by major security type	The major components of investment securities were as follows: Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair Amount Number of issues Fair Amount March 31, 2020 Available-for-sale U.S. Treasury and federal agency obligations $ 108,298 $ 1,995 $ — $ 110,293 — $ — $ — — $ — $ — Mortgage-backed securities* 1,114,580 27,493 (621) 1,141,452 6 28,937 (129) 15 40,892 (492) Corporate bonds 58,681 1,236 (147) 59,770 1 14,753 (147) — — — Mortgage revenue bonds 28,726 — — 28,726 — — — — $ 1,310,285 $ 30,724 $ (768) $ 1,340,241 7 $ 43,690 $ (276) 15 $ 40,892 $ (492) Held-to-maturity Mortgage-backed securities* $ 134,656 $ 7,914 $ — $ 142,570 — $ — $ — — $ — $ — $ 134,656 $ 7,914 $ — $ 142,570 — $ — $ — — $ — $ — December 31, 2019 Available-for-sale U.S. Treasury and federal agency obligations $ 117,255 $ 652 $ (120) $ 117,787 2 $ 4,110 $ (11) 3 $ 27,637 $ (109) Mortgage-backed securities* 1,024,892 6,000 (4,507) 1,026,385 19 152,071 (819) 75 318,020 (3,688) Corporate bonds 58,694 1,363 — 60,057 — — — — — — Mortgage revenue bonds 28,597 — — 28,597 — — — — — — $ 1,229,438 $ 8,015 $ (4,627) $ 1,232,826 21 $ 156,181 $ (830) 78 $ 345,657 $ (3,797) Held-to-maturity Mortgage-backed securities* $ 139,451 $ 4,087 $ (71) $ 143,467 1 $ 12,986 $ (71) — $ — $ — $ 139,451 $ 4,087 $ (71) $ 143,467 1 $ 12,986 $ (71) — $ — $ — * Issued or guaranteed by U.S. Government agencies or sponsored agencies
Schedule of contractual maturities of available-for-sale securities	The contractual maturities of investment securities were as follows: March 31, 2020 Amortized cost Fair value (in thousands) Available-for-sale Due in one year or less $ 60,299 $ 60,622 Due after one year through five years 70,894 73,071 Due after five years through ten years 49,085 49,669 Due after ten years 15,427 15,427 195,705 198,789 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 1,114,580 1,141,452 Total available-for-sale securities $ 1,310,285 $ 1,340,241 Held-to-maturity Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies $ 134,656 $ 142,570 Total held-to-maturity securities $ 134,656 $ 142,570
Schedule of components of loans receivable	The components of loans were summarized as follows: March 31, 2020 December 31, 2019 (in thousands) Real estate: Residential 1-4 family $ 2,161,894 $ 2,178,135 Commercial real estate 852,120 824,830 Home equity line of credit 1,095,677 1,092,125 Residential land 13,720 14,704 Commercial construction 79,377 70,605 Residential construction 9,190 11,670 Total real estate 4,211,978 4,192,069 Commercial 722,647 670,674 Consumer 245,753 257,921 Total loans 5,180,378 5,120,664 Deferred fees and discounts 554 512 Allowance for credit losses (77,084) (53,355) Total loans, net $ 5,103,848 $ 5,067,821
Schedule of allowance for credit losses	The allowance for credit losses by portfolio segment were as follows: (in thousands) Residential Commercial real Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Total Three months ended March 31, 2020 Allowance for credit losses: Beginning balance, prior to adoption of ASU No. 2016-13 $ 2,380 $ 15,053 $ 6,922 $ 449 $ 2,097 $ 3 $ 10,245 $ 16,206 $ 53,355 Impact of adopting ASU No. 2016-13 2,150 208 (541) (64) 289 14 922 16,463 19,441 Charge-offs — — — (8) — — (369) (6,254) (6,631) Recoveries 53 — 6 9 — — 186 764 1,018 Provision (107) 1,326 (162) (34) 1,060 (3) 1,993 5,828 9,901 Ending balance $ 4,476 $ 16,587 $ 6,225 $ 352 $ 3,446 $ 14 $ 12,977 $ 33,007 $ 77,084 Three months ended March 31, 2019 Allowance for credit losses: Beginning balance $ 1,976 $ 14,505 $ 6,371 $ 479 $ 2,790 $ 4 $ 9,225 $ 16,769 $ 52,119 Charge-offs (14) — — — — — (618) (5,559) (6,191) Recoveries 609 — 5 7 — — 180 698 1,499 Provision (660) 320 117 (61) 53 (1) 2,027 5,075 6,870 Ending balance $ 1,911 $ 14,825 $ 6,493 $ 425 $ 2,843 $ 3 $ 10,814 $ 16,983 $ 54,297 December 31, 2019 Ending balance: individually evaluated for impairment $ 898 $ 2 $ 322 $ — $ — $ — $ 1,015 $ 454 $ 2,691 Ending balance: collectively evaluated for impairment $ 1,482 $ 15,051 $ 6,600 $ 449 $ 2,097 $ 3 $ 9,230 $ 15,752 $ 50,664 Financing Receivables: Ending balance $ 2,178,135 $ 824,830 $ 1,092,125 $ 14,704 $ 70,605 $ 11,670 $ 670,674 $ 257,921 $ 5,120,664 Ending balance: individually evaluated for impairment $ 15,600 $ 1,048 $ 12,073 $ 3,091 $ — $ — $ 8,418 $ 507 $ 40,737 Ending balance: collectively evaluated for impairment $ 2,162,535 $ 823,782 $ 1,080,052 $ 11,613 $ 70,605 $ 11,670 $ 662,256 $ 257,414 $ 5,079,927
Schedule of allowance for loan commitments	Allowance for loan commitments. The allowance for loan commitments by portfolio segment were as follows: (in thousands) Home equity Commercial construction Commercial loans Total Three months ended March 31, 2020 Allowance for loan commitments: Beginning balance, prior to adoption of ASU No. 2016-13 $ 392 $ 931 $ 418 $ 1,741 Impact of adopting ASU No. 2016-13 (92) 1,745 (94) 1,559 Provision — 515 (15) 500 Ending balance $ 300 $ 3,191 $ 309 $ 3,800
Schedule of credit risk profile by internally assigned grade for loans	The credit risk profile based on payment activity and internally assigned grade for loans was as follows: (in thousands) 2020 2019 2018 2017 2016 Prior Revolving loans Revolving loans converted to term loans Total March 31, 2020 Residential 1-4 family Current $ 72,453 $ 292,483 $ 194,702 $ 276,153 $ 230,719 $ 1,089,697 $ — $ — $ 2,156,207 30-59 days past due — — — — 4 2,777 — — 2,781 60-89 days past due — — — — — 1,630 — — 1,630 Greater than 89 days past due — — — 353 — 923 — — 1,276 72,453 292,483 194,702 276,506 230,723 1,095,027 — — 2,161,894 Home equity line of credit Current — — — — — — 1,062,097 30,327 1,092,424 30-59 days past due — — — — — — 633 592 1,225 60-89 days past due — — — — — — 26 198 224 Greater than 89 days past due — — — — — — 1,375 429 1,804 — — — — — — 1,064,131 31,546 1,095,677 Residential land Current 305 5,402 2,024 2,954 22 3,013 — — 13,720 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 305 5,402 2,024 2,954 22 3,013 — — 13,720 Residential construction Current 1,069 5,410 682 2,029 — — — — 9,190 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 1,069 5,410 682 2,029 — — — — 9,190 Consumer Current 23,191 98,543 62,983 19,183 3,099 600 26,079 3,001 236,679 30-59 days past due 263 1,180 1,311 486 82 — 258 92 3,672 60-89 days past due — 843 1,225 337 43 — 128 40 2,616 Greater than 89 days past due — 762 1,115 386 73 1 358 91 2,786 23,454 101,328 66,634 20,392 3,297 601 26,823 3,224 245,753 Commercial real estate Pass 87,054 119,868 128,356 60,786 122,917 233,064 17,442 — 769,487 Special Mention 3,560 — 4,331 4,700 3,457 3,421 — — 19,469 Substandard — — 1,940 608 3,682 56,934 — — 63,164 Doubtful — — — — — — — — — 90,614 119,868 134,627 66,094 130,056 293,419 17,442 — 852,120 Commercial construction Pass 3,139 6,889 25,925 17,771 2,068 — 21,296 — 77,088 Special Mention — — — — — — — — — Substandard — — — — — 2,289 — — 2,289 Doubtful — — — — — — — — — 3,139 6,889 25,925 17,771 2,068 2,289 21,296 — 79,377 Commercial Pass 29,594 180,576 103,190 40,697 35,704 66,885 184,425 17,315 658,386 Special Mention 473 6,625 2,252 5,219 18,782 9,651 2,261 — 45,263 Substandard 198 5,108 330 1,650 4,291 3,554 2,404 1,463 18,998 Doubtful — — — — — — — — — 30,265 192,309 105,772 47,566 58,777 80,090 189,090 18,778 722,647 Total loans $ 221,299 $ 723,689 $ 530,366 $ 433,312 $ 424,943 $ 1,474,439 $ 1,318,782 $ 53,548 $ 5,180,378 The credit risk profile by internally assigned grade for loans was as follows: December 31, 2019 (in thousands) Commercial Commercial Commercial Total Grade: Pass $ 756,747 $ 68,316 $ 621,657 $ 1,446,720 Special mention 4,451 — 29,921 34,372 Substandard 63,632 2,289 19,096 85,017 Doubtful — — — — Loss — — — — Total $ 824,830 $ 70,605 $ 670,674 $ 1,566,109
Schedule of credit risk profile based on payment activity for loans	The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 60-89 90 days or more past due Total Current Total Amortized cost> March 31, 2020 Real estate: Residential 1-4 family $ 2,781 $ 1,630 $ 1,276 $ 5,687 $ 2,156,207 $ 2,161,894 $ — Commercial real estate — — — — 852,120 852,120 — Home equity line of credit 1,225 224 1,804 3,253 1,092,424 1,095,677 — Residential land — — — — 13,720 13,720 — Commercial construction — — 2,289 2,289 77,088 79,377 — Residential construction — — — — 9,190 9,190 — Commercial 3,712 311 309 4,332 718,315 722,647 — Consumer 3,672 2,616 2,786 9,074 236,679 245,753 — Total loans $ 11,390 $ 4,781 $ 8,464 $ 24,635 $ 5,155,743 $ 5,180,378 $ — December 31, 2019 Real estate: Residential 1-4 family $ 2,588 $ 290 $ 1,808 $ 4,686 $ 2,173,449 $ 2,178,135 $ — Commercial real estate — — — — 824,830 824,830 — Home equity line of credit 813 — 2,117 2,930 1,089,195 1,092,125 — Residential land — — 25 25 14,679 14,704 — Commercial construction — — — — 70,605 70,605 — Residential construction — — — — 11,670 11,670 — Commercial 1,077 311 172 1,560 669,114 670,674 — Consumer 4,386 3,257 2,907 10,550 247,371 257,921 — Total loans $ 8,864 $ 3,858 $ 7,029 $ 19,751 $ 5,100,913 $ 5,120,664 $ —
Schedule of credit risk profile based on nonaccrual loans, accruing loans 90 days or more past due	The credit risk profile based on nonaccrual loans, accruing loans 90 days or more past due and troubled debt restructuring (TDR) loans was as follows: (in thousands) March 31, 2020 December 31, 2019 Real estate: Residential 1-4 family $ 10,747 $ 11,395 Commercial real estate 16,390 195 Home equity line of credit 6,596 6,638 Residential land 413 448 Commercial construction 2,289 — Residential construction — — Commercial 5,366 5,947 Consumer 4,965 5,113 Total nonaccrual loans $ 46,766 $ 29,736 Real estate: Residential 1-4 family $ 9,254 $ 9,869 Commercial real estate 1,035 853 Home equity line of credit 9,628 10,376 Residential land 2,622 2,644 Commercial construction — — Residential construction — — Commercial 3,261 2,614 Consumer 56 57 Total troubled debt restructured loans not included above $ 25,856 $ 26,413
Schedule of loan modifications	Loan modifications that occurred during the first three months of 2020 and 2019 were as follows: Loans modified as a TDR Three months ended March 31, 2020 (dollars in thousands) Number of contracts Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 1 $ 148 $ 8 Commercial real estate 2 16,584 4,281 Home equity line of credit — — — Residential land — — — Commercial construction — — — Residential construction — — — Commercial 4 756 278 Consumer — — — 7 $ 17,488 $ 4,567 Three months ended March 31, 2019 (dollars in thousands) Number of contracts Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 8 $ 1,048 $ 5 Commercial real estate — — — Home equity line of credit 2 264 23 Residential land 1 335 — Commercial construction — — — Residential construction — — — Commercial 1 195 17 Consumer — — — 12 $ 1,842 $ 45 1 T he period end balances reflect all paydowns and charge-offs since the modification period. TDRs fully paid off, charged-off, or foreclosed upon by period end are not included. Loans modified in TDRs that experienced a payment default of 90 days or more during the first quarters of 2020 and 2019, and for which the payment of default occurred within one year of the modification, were as follows: Three months ended March 31, 2020 Three months ended March 31, 2019 (dollars in thousands) Number of contracts Outstanding recorded investment (as of period end) 1 Number of contracts Outstanding recorded investment (as of period end) 1 TDRs that defaulted during the period within twelve months of their modification date Real estate: Residential 1-4 family — $ — — $ — Commercial real estate — — — — Home equity line of credit — — — — Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial — — 1 19 Consumer — — — — — $ — 1 $ 19 1 The period end balances reflect all paydowns and charge-offs since the modification period. TDRs fully paid off, charged-off, or foreclosed upon by period end are not included.
Schedule of collateral-dependent loans	Loans considered collateral-dependent were as follows: March 31, 2020 Amortized cost Collateral type (in thousands) Real estate: Residential 1-4 family $ 2,315 Residential real estate property Home equity line of credit 1,567 Residential real estate property Commercial construction 2,290 Commercial real estate property Total real estate 6,172 Commercial 90 Business assets Total $ 6,262 The total carrying amount and the total unpaid principal balance of impaired loans were as follows: December 31, 2019 Three months ended March 31, 2019 (in thousands) Recorded Unpaid Related Average Interest With no related allowance recorded Real estate: Residential 1-4 family $ 6,817 $ 7,207 $ — $ 7,991 $ 160 Commercial real estate 195 200 — — — Home equity line of credit 1,984 2,135 — 2,534 12 Residential land 3,091 3,294 — 2,036 26 Commercial construction — — — — — Residential construction — — — — — Commercial 1,948 2,285 — 3,973 — Consumer 2 2 — 31 — $ 14,037 $ 15,123 $ — $ 16,565 $ 198 With an allowance recorded Real estate: Residential 1-4 family $ 8,783 $ 8,835 $ 898 $ 8,394 $ 83 Commercial real estate 853 853 2 906 10 Home equity line of credit 10,089 10,099 322 11,823 130 Residential land — — — 29 — Commercial construction — — — — — Residential construction — — — — — Commercial 6,470 6,470 1,015 4,750 26 Consumer 505 505 454 57 1 $ 26,700 $ 26,762 $ 2,691 $ 25,959 $ 250 Total Real estate: Residential 1-4 family $ 15,600 $ 16,042 $ 898 $ 16,385 $ 243 Commercial real estate 1,048 1,053 2 906 10 Home equity line of credit 12,073 12,234 322 14,357 142 Residential land 3,091 3,294 — 2,065 26 Commercial construction — — — — — Residential construction — — — — — Commercial 8,418 8,755 1,015 8,723 26 Consumer 507 507 454 88 1 $ 40,737 $ 41,885 $ 2,691 $ 42,524 $ 448 * Since loan was classified as impaired.
Schedule of amortized intangible assets	Changes in the carrying value of MSRs were as follows: (in thousands) Gross carrying amount 1 Accumulated amortization Valuation allowance Net March 31, 2020 $ 22,178 $ 13,058 $ — $ 9,120 December 31, 2019 21,543 (12,442) — 9,101 1 Reflects impact of loans paid in full Changes related to MSRs were as follows: Three months ended March 31 (in thousands) 2020 2019 Mortgage servicing rights Beginning balance $ 9,101 $ 8,062 Amount capitalized 636 230 Amortization (617) (395) Other-than-temporary impairment — — Carrying amount before valuation allowance 9,120 7,897 Valuation allowance for mortgage servicing rights Beginning balance — — Provision (recovery) — — Other-than-temporary impairment — — Ending balance — — Net carrying value of mortgage servicing rights $ 9,120 $ 7,897
Schedule of key assumptions used in estimating fair value	Key assumptions used in estimating the fair value of ASB’s MSRs used in the impairment analysis were as follows: (dollars in thousands) March 31, 2020 December 31, 2019 Unpaid principal balance $ 1,308,847 $ 1,276,437 Weighted average note rate 3.94 % 3.96 % Weighted average discount rate 9.3 % 9.3 % Weighted average prepayment speed 16.7 % 11.4 % The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis: Significant unobservable input value (1) ($ in thousands) Fair value Valuation technique Significant unobservable input Range Weighted December 31, 2019 Residential land $ 25 Fair value of property or collateral Appraised value less 7% selling cost N/A (2) N/A (2) Total loans $ 25 (1) Represents percent of outstanding principal balance. (2) N/A - Not applicable. There is one asset in each fair value measurement type.
Schedule of sensitivity analysis of fair value, transferor's interests in transferred financial assets	The sensitivity analysis of fair value of MSRs to hypothetical adverse changes of 25 and 50 basis points in certain key assumptions was as follows: (dollars in thousands) March 31, 2020 December 31, 2019 Prepayment rate: 25 basis points adverse rate change $ (1,052) $ (950) 50 basis points adverse rate change (1,921) (1,947) Discount rate: 25 basis points adverse rate change (71) (102) 50 basis points adverse rate change (140) (202)
Schedule of securities sold under agreements to repurchase	The following tables present information about the securities sold under agreements to repurchase, including the related collateral received from or pledged to counterparties: (in millions) Gross amount of Gross amount offset in Net amount of liabilities presented Repurchase agreements March 31, 2020 $ 81 $ — $ 81 December 31, 2019 115 — 115 Gross amount not offset in the Balance Sheets (in millions) Net amount of liabilities presented Financial Cash Commercial account holders March 31, 2020 $ 81 $ 105 $ — December 31, 2019 115 130 —
Schedule of notional and fair value of derivatives	The notional amount and fair value of ASB’s derivative financial instruments were as follows: March 31, 2020 December 31, 2019 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 63,662 $ 1,852 $ 23,171 $ 297 Forward commitments 50,800 (585) 29,383 (42)
Schedule of derivative financial instruments	ASB’s derivative financial instruments, their fair values and balance sheet location were as follows: Derivative Financial Instruments Not Designated as Hedging Instruments 1 March 31, 2020 December 31, 2019 (in thousands) Asset derivatives Liability Asset derivatives Liability Interest rate lock commitments $ 1,852 $ — $ 297 $ — Forward commitments — 585 3 45 $ 1,852 $ 585 $ 300 $ 45 1 Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the balance sheets.
Schedule of derivative financial instruments and net gain or loss	The following table presents ASB’s derivative financial instruments and the amount and location of the net gains or losses recognized in ASB’s statements of income: Derivative Financial Instruments Not Designated as Hedging Instruments Location of net gains (losses) recognized in the Statements of Income Three months ended March 31 (in thousands) 2020 2019 Interest rate lock commitments Mortgage banking income $ 1,555 $ 371 Forward commitments Mortgage banking income (543) (118) $ 1,012 $ 253

Shareholders' equity (Tables)

Shareholders' equity (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Schedule of accumulated other comprehensive income	Changes in the balances of each component of accumulated other comprehensive income/(loss) (AOCI) were as follows: HEI Consolidated Hawaiian Electric Consolidated (in thousands) Net unrealized gains (losses) on securities Unrealized gains (losses) on derivatives Retirement benefit plans AOCI AOCI-Retirement benefit plans Balance, December 31, 2019 $ 2,481 $ (1,613) $ (20,907) $ (20,039) $ (1,279) Current period other comprehensive income (loss) 19,448 (1,784) 548 18,212 26 Balance, March 31, 2020 $ 21,929 $ (3,397) $ (20,359) $ (1,827) $ (1,253) Balance, December 31, 2018 $ (24,423) $ (436) $ (25,751) $ (50,610) $ 99 Current period other comprehensive income (loss) 9,439 (403) 205 9,241 24 Balance, March 31, 2019 $ (14,984) $ (839) $ (25,546) $ (41,369) $ 123
Schedule of reclassifications out of accumulated other comprehensive income/(loss)	Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Three months ended March 31 Affected line item in the (in thousands) 2020 2019 Statements of Income / Balance Sheets HEI consolidated Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ 5,706 $ 2,503 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (5,158) (2,298) See Note 8 for additional details Total reclassifications $ 548 $ 205 Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ 5,184 $ 2,322 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (5,158) (2,298) See Note 8 for additional details Total reclassifications $ 26 $ 24

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The following tables disaggregate revenues by major source, timing of revenue recognition, and segment: Three months ended March 31, 2020 (in thousands) Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 190,266 $ — $ — $ 190,266 Electric energy sales - commercial 197,105 — — 197,105 Electric energy sales - large light and power 216,220 — — 216,220 Electric energy sales - other 3,458 — — 3,458 Bank fees — 11,556 — 11,556 Total revenues from contracts with customers 607,049 11,556 — 618,605 Revenues from other sources Regulatory revenue (15,304) — — (15,304) Bank interest and dividend income — 64,975 — 64,975 Other bank noninterest income — 3,207 — 3,207 Other 5,697 — 6 5,703 Total revenues from other sources (9,607) 68,182 6 58,581 Total revenues $ 597,442 $ 79,738 $ 6 $ 677,186 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 11,556 $ — $ 11,556 Services/goods transferred over time 607,049 — — 607,049 Total revenues from contracts with customers $ 607,049 $ 11,556 $ — $ 618,605 Three months ended March 31, 2019 (in thousands) Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 175,745 $ — $ — $ 175,745 Electric energy sales - commercial 187,408 — — 187,408 Electric energy sales - large light and power 198,926 — — 198,926 Electric energy sales - other 4,078 — — 4,078 Bank fees — 11,233 — 11,233 Total revenues from contracts with customers 566,157 11,233 — 577,390 Revenues from other sources Regulatory revenue 6,207 — — 6,207 Bank interest and dividend income — 68,488 — 68,488 Other bank noninterest income — 3,331 — 3,331 Other 6,131 — 68 6,199 Total revenues from other sources 12,338 71,819 68 84,225 Total revenues $ 578,495 $ 83,052 $ 68 $ 661,615 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 11,233 $ — $ 11,233 Services/goods transferred over time 566,157 — — 566,157 Total revenues from contracts with customers $ 566,157 $ 11,233 $ — $ 577,390

Retirement benefits (Tables)

Retirement benefits (Tables)	3 Months Ended
	Mar. 31, 2020
Retirement Benefits [Abstract]
Schedule of components of net periodic benefit cost for consolidated HEI	The components of net periodic pension costs (NPPC) and net periodic benefit costs (NPBC) for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended March 31 Pension benefits Other benefits (in thousands) 2020 2019 2020 2019 HEI consolidated Service cost $ 18,363 $ 15,382 $ 631 $ 541 Interest cost 20,163 21,033 1,855 1,997 Expected return on plan assets (28,466) (27,998) (3,038) (3,086) Amortization of net prior period (gain)/cost 3 (11) (440) (452) Amortization of net actuarial (gains)/losses 8,057 3,839 50 (3) Net periodic pension/benefit cost (return) 18,120 12,245 (942) (1,003) Impact of PUC D&Os 6,262 12,279 777 811 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 24,382 $ 24,524 $ (165) $ (192) Hawaiian Electric consolidated Service cost $ 17,891 $ 15,001 $ 626 $ 537 Interest cost 18,715 19,414 1,782 1,917 Expected return on plan assets (26,855) (26,164) (2,990) (3,035) Amortization of net prior period (gain)/cost 2 2 (440) (451) Amortization of net actuarial losses 7,368 3,576 51 — Net periodic pension/benefit cost (return) 17,121 11,829 (971) (1,032) Impact of PUC D&Os 6,262 12,279 777 811 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 23,383 $ 24,108 $ (194) $ (221)

Share-based compensation (Table

Share-based compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of share-based compensation expense and related income tax benefit	Share-based compensation expense and the related income tax benefit were as follows: Three months ended March 31 (in millions) 2020 2019 HEI consolidated Share-based compensation expense 1 $ 1.7 $ 2.2 Income tax benefit 0.3 0.3 Hawaiian Electric consolidated Share-based compensation expense 1 0.8 0.8 Income tax benefit 0.1 0.1 1 For the three months ended March 31, 2020 and 2019, the Company has not capitalized any share-based compensation.
Schedule of common stock granted to a nonemployee director under the 2011 Director Plan	HEI granted HEI common stock to nonemployee directors under the 2011 Director Plan as follows: Three months ended March 31 (dollars in thousands) 2020 2019 Shares granted 468 — Fair value $ 23 $ — Income tax benefit 6 —
Schedule of restricted stock units	Information about HEI’s grants of restricted stock units was as follows: Three months ended March 31 2020 2019 Shares (1) Shares (1) Outstanding, beginning of period 207,641 $ 35.36 200,358 $ 33.05 Granted 77,679 48.11 94,559 37.68 Vested (77,719) 34.19 (76,712) 32.61 Forfeited (4,160) 35.81 (6,980) 33.18 Outstanding, end of period 203,441 $ 40.67 211,225 $ 35.28 Total weighted-average grant-date fair value of shares granted $ 3.7 $ 3.6 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.
Schedule of Long-Term Incentive Plan (LTIP) linked to total return to shareholders	Information about HEI’s LTIP grants linked to TSR was as follows: Three months ended March 31 2020 2019 Shares (1) Shares (1) Outstanding, beginning of period 96,402 $ 39.62 65,578 $ 38.81 Granted 24,630 48.62 34,647 41.07 Vested (issued or unissued and cancelled) (29,409) 39.51 — — Forfeited (1,007) 41.72 (1,914) 38.62 Outstanding, end of period 90,616 $ 42.08 98,311 $ 39.61 Total weighted-average grant-date fair value of shares granted (in millions) $ 1.2 $ 1.4 (1) Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model.
Schedule of Long-Term Incentive Plan assumptions	The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TSR and the resulting fair value of LTIP awards granted: 2020 2019 Risk-free interest rate 1.39 % 2.48 % Expected life in years 3 3 Expected volatility 13.1 % 15.8 % Range of expected volatility for Peer Group 13.6% to 95.4% 15.0% to 73.2% Grant date fair value (per share) $48.62 $41.07
Schedule of Long-Term Incentive Plan (LTIP) linked to other performance conditions	Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows: Three months ended March 31 2020 2019 Shares (1) Shares (1) Outstanding, beginning of period 403,768 $ 35.15 276,169 $ 33.80 Granted 98,522 48.10 138,580 37.68 Vested (135,804) 33.48 — — Increase above target (cancelled) (26,111) 34.13 — — Forfeited (4,031) 39.67 (7,659) 33.91 Outstanding, end of period 336,344 $ 39.64 407,090 $ 35.12 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ 4.7 $ 5.2 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.

Cash flows (Tables)

Cash flows (Tables)	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental disclosures of cash and noncash activity	Three months ended March 31 2020 2019 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 18 $ 21 Income taxes paid (including refundable credits) — 4 Income taxes refunded (including refundable credits) — 4 Hawaiian Electric consolidated Interest paid to non-affiliates 9 12 Income taxes paid (including refundable credits) — 5 Income taxes refunded (including refundable credits) — 4 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment-unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 32 36 Reduction of long-term debt from funds previously transferred for repayment (financing) 82 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 19 — Common stock issued (gross) for director and executive/management compensation (financing) 1 14 3 Real estate transferred from property, plant and equipment to other assets held-for-sale (investing) — 9 Hawaiian Electric consolidated Electric utility property, plant and equipment-unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 27 29 Reduction of long-term debt from funds previously transferred for repayment (financing) 82 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 16 — 1 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Fair value measurements (Tables

Fair value measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of estimated fair values of certain of the Company's financial instruments	The following table presents the carrying or notional amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments. For stock in Federal Home Loan Bank, the carrying amount is a reasonable estimate of fair value because it can only be redeemed at par. Estimated fair value (in thousands) Carrying or notional amount Quoted prices in Significant Significant Total March 31, 2020 Financial assets HEI consolidated Available-for-sale investment securities $ 1,340,241 $ — $ 1,311,515 $ 28,726 $ 1,340,241 Held-to-maturity investment securities 134,656 — 142,570 — 142,570 Stock in Federal Home Loan Bank 9,760 — 9,760 — 9,760 Loans, net 5,122,003 — 18,155 5,287,943 5,306,098 Mortgage servicing rights 9,120 — — 10,350 10,350 Derivative assets 63,662 — 1,852 — 1,852 Financial liabilities HEI consolidated Deposit liabilities 791,665 — 797,075 — 797,075 Short-term borrowings—other than bank 99,956 — 99,956 — 99,956 Other bank borrowings 157,605 — 157,606 — 157,606 Long-term debt, net—other than bank 2,068,092 — 2,226,265 — 2,226,265 Derivative liabilities 74,800 585 4,575 — 5,160 Hawaiian Electric consolidated Short-term borrowings 99,956 — 99,956 — 99,956 Long-term debt, net 1,510,635 — 1,655,449 — 1,655,449 December 31, 2019 Financial assets HEI consolidated Available-for-sale investment securities $ 1,232,826 $ — $ 1,204,229 $ 28,597 $ 1,232,826 Held-to-maturity investment securities 139,451 — 143,467 — 143,467 Stock in Federal Home Loan Bank 8,434 — 8,434 — 8,434 Loans, net 5,080,107 — 12,295 5,145,242 5,157,537 Mortgage servicing rights 9,101 — — 12,379 12,379 Derivative assets 25,179 — 300 — 300 Financial liabilities HEI consolidated Deposit liabilities 769,825 — 765,976 — 765,976 Short-term borrowings—other than bank 185,710 — 185,710 — 185,710 Other bank borrowings 115,110 — 115,107 — 115,107 Long-term debt, net—other than bank 1,964,365 — 2,156,927 — 2,156,927 Derivative liabilities 51,375 33 2,185 — 2,218 Hawaiian Electric consolidated Short-term borrowings 88,987 — 88,987 — 88,987 Long-term debt, net 1,497,667 — 1,670,189 — 1,670,189
Schedule of assets measured at fair value on a recurring basis	Assets and liabilities measured at fair value on a recurring basis were as follows: March 31, 2020 December 31, 2019 Fair value measurements using Fair value measurements using (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Available-for-sale investment securities (bank segment) Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies $ — $ 1,141,452 $ — $ — $ 1,026,385 $ — U.S. Treasury and federal agency obligations — 110,293 — — 117,787 — Corporate bonds — 59,770 — — 60,057 — Mortgage revenue bonds — — 28,726 — — 28,597 $ — $ 1,311,515 $ 28,726 $ — $ 1,204,229 $ 28,597 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 1,852 $ — $ — $ 297 $ — Forward commitments (bank segment) 1 — — — — 3 — $ — $ 1,852 $ — $ — $ 300 $ — Derivative liabilities Forward commitments (bank segment) 1 $ 585 $ — $ — $ 33 $ 12 $ — Interest rate swap (Other segment) 2 — 4,575 — — 2,173 — $ 585 $ 4,575 $ — $ 33 $ 2,185 $ — 1 Derivatives are carried at fair value in other assets or other liabilities in the balance sheets with changes in value included in mortgage banking income. 2 Derivatives are included in other liabilities in the balance sheets.
Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis	The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: Three months ended March 31 Mortgage revenue bonds 2020 2019 (in thousands) Beginning balance $ 28,597 $ 23,636 Principal payments received — — Purchases 129 4,334 Unrealized gain (loss) included in other comprehensive income — — Ending balance $ 28,726 $ 27,970
Schedule of assets measured at fair value on a nonrecurring basis	The carrying value of assets measured at fair value on a nonrecurring basis were as follows: Fair value measurements using (in thousands) Balance Level 1 Level 2 Level 3 March 31, 2020 Loans $ — $ — $ — $ — December 31, 2019 Loans 25 — — 25
Schedule of significant unobservable inputs used in the fair value measurement	Key assumptions used in estimating the fair value of ASB’s MSRs used in the impairment analysis were as follows: (dollars in thousands) March 31, 2020 December 31, 2019 Unpaid principal balance $ 1,308,847 $ 1,276,437 Weighted average note rate 3.94 % 3.96 % Weighted average discount rate 9.3 % 9.3 % Weighted average prepayment speed 16.7 % 11.4 % The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis: Significant unobservable input value (1) ($ in thousands) Fair value Valuation technique Significant unobservable input Range Weighted December 31, 2019 Residential land $ 25 Fair value of property or collateral Appraised value less 7% selling cost N/A (2) N/A (2) Total loans $ 25 (1) Represents percent of outstanding principal balance. (2) N/A - Not applicable. There is one asset in each fair value measurement type.

Basis of presentation (Details)

Basis of presentation (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit loss	$ 77,084		$ 53,355	$ 54,297	$ 52,119
Allowance for loan commitments	3,800		1,741
Retained earnings	604,071	$ 622,042	622,042
Total shareholders’ equity	2,276,505	2,280,260	2,280,260	$ 2,183,515	$ 2,162,280
Loans held for investment, net	5,103,848	5,067,821	5,067,821
Total assets	13,849,018	13,745,251	13,745,251
Deferred income taxes	382,872	379,324	379,324
Other	521,978	583,545	583,545
Total liabilities	11,538,220	11,430,698	11,430,698
Total liabilities and shareholders' equity	$ 13,849,018	13,745,251	13,745,251
As reported under ASU No. 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings		606,670
Total shareholders’ equity		2,264,888
Loans held for investment, net		5,048,380
Total assets		13,725,810
Deferred income taxes		373,696
Other		585,104
Total liabilities		11,426,629
Total liabilities and shareholders' equity		13,725,810
Impact of ASU No. 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit loss		21,000	19,441
Allowance for loan commitments		2,000	$ 1,559
Retained earnings		(15,372)
Total shareholders’ equity		(15,372)
Loans held for investment, net		(19,441)
Total assets		(19,441)
Deferred income taxes		(5,628)
Other		1,559
Total liabilities		(4,069)
Total liabilities and shareholders' equity		$ (19,441)

Segment financial information_2

Segment financial information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jan. 01, 2020	Dec. 31, 2019
Segment financial information
Total revenues	$ 677,186	$ 661,615
Income (loss) before income taxes	39,696	58,039
Income taxes (benefit)	5,803	11,878
Net income	33,893	46,161
Preferred stock dividends of subsidiaries	473	473
Net income for common stock	33,420	45,688
Total assets	13,849,018		$ 13,745,251	$ 13,745,251
Revenues from external customers
Segment financial information
Total revenues	677,186	661,615
Intersegment revenues (eliminations)
Segment financial information
Total revenues	0	0
Electric utility
Segment financial information
Total revenues	597,442	578,495
Income (loss) before income taxes	29,686	41,859
Income taxes (benefit)	5,282	9,234
Net income	24,404	32,625
Preferred stock dividends of subsidiaries	499	499
Net income for common stock	23,905	32,126
Total assets	6,335,928			6,388,682
Electric utility | Revenues from external customers
Segment financial information
Total revenues	597,430	578,482
Electric utility | Intersegment revenues (eliminations)
Segment financial information
Total revenues	12	13
Bank
Segment financial information
Total revenues	79,738	83,052
Income (loss) before income taxes	18,969	26,162
Income taxes (benefit)	3,208	5,323
Net income	15,761	20,839
Preferred stock dividends of subsidiaries	0	0
Net income for common stock	15,761	20,839
Total assets	7,385,745			7,233,017
Bank | Revenues from external customers
Segment financial information
Total revenues	79,738	83,052
Bank | Intersegment revenues (eliminations)
Segment financial information
Total revenues	0	0
Other
Segment financial information
Total revenues	6	68
Income (loss) before income taxes	(8,959)	(9,982)
Income taxes (benefit)	(2,687)	(2,679)
Net income	(6,272)	(7,303)
Preferred stock dividends of subsidiaries	(26)	(26)
Net income for common stock	(6,246)	(7,277)
Total assets	127,345			$ 123,552
Other | Revenues from external customers
Segment financial information
Total revenues	18	81
Other | Intersegment revenues (eliminations)
Segment financial information
Total revenues	$ (12)	$ (13)

Electric utility segment - Unco

Electric utility segment - Unconsolidated variable interest entities (Details)	3 Months Ended
	Mar. 31, 2020agreemententity
Power purchase agreement
Number of IPPs	3
Hawaiian Electric Company
Power purchase agreement
Number of power purchase agreements (PPAs) (in agreements) | agreement	4
Number of firm capacity producers declining to provide financial information to determine primary beneficiary status (in entities)	2
Minimum potential number of IPP entities consolidated into company in the future (in entities)	1

Electric utility segment - Powe

Electric utility segment - Power purchase agreements (Details) - Hawaiian Electric (parent only) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	$ 140	$ 134
Kalaeloa
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	38	40
AES Hawaii
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	31	32
HPOWER
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	17	18
Hamakua Energy
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	13	16
Wind IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	28	20
Solar IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	11	7
Other IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	$ 2	$ 1

Electric utility segment - Comm

Electric utility segment - Commitments and contingencies (Details) $ in Millions	Jun. 10, 2019USD ($)	Jan. 31, 2020	Jun. 30, 2015MW	May 31, 2012MW	Mar. 31, 1988MW	Dec. 31, 1988MW	Mar. 31, 2020USD ($)
Regulatory Projects and Legal Obligations [Line Items]
ERP/EAM project service period (in years)	12 years	12 years
Project costs, accrued carrying costs once put into service							$ 59.4
Project costs, amortization							0.2
Future O&M expense reductions	$ 150
Future cost avoidance related to capital cost and tax costs	$ 96
AES Hawaii
Regulatory Projects and Legal Obligations [Line Items]
Purchase commitment, period (in years)					30 years
Minimum power volume required (in megawatts) | MW					180
Additional capacity requirement (in megawatts) | MW			9
Hu Honua Bioenergy, LLC
Regulatory Projects and Legal Obligations [Line Items]
Minimum power volume required (in megawatts) | MW				21.5
Hawaiian Electric (parent only) | PCB Contamination
Environmental regulation
Valuation allowances and reserves							4.8
Maui Electric
Environmental regulation
Additional accrued investigation and estimated cleanup costs							2.7
ERP/EAM Implementation Project | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory Projects and Legal Obligations [Line Items]
Regulatory liability for O&M expense reductions							$ 4.8
Kalaeloa | Hawaiian Electric (parent only)
Regulatory Projects and Legal Obligations [Line Items]
Increased power purchase commitment capacity (in megawatts) | MW						208

Electric utility segment - Regu

Electric utility segment - Regulatory Proceedings (Details)	Feb. 07, 2020USD ($)	Mar. 25, 2019contract	Apr. 27, 2017USD ($)	Dec. 31, 2019USD ($)	May 31, 2019USD ($)	Dec. 31, 2018USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)$ / kWh	Aug. 31, 2019USD ($)
Regulatory Projects and Legal Obligations [Line Items]
Decoupling order, service reliability performance, historical measurement period (in years)							10 years
Service reliability, pending adjusted maximum penalty amount							$ 6,800,000
Dead band percentage above or below the target							3.00%
Call center performance, pending adjusted maximum penalty							$ 1,400,000
Call center performance, maximum penalty amount						$ 2,100,000
Call center, additional penalty accrued					$ 1,300,000
Energy price, renewable projects with storage capacity (in dollars per kilowatt hour) | $ / kWh									0.115
Energy price, renewable energy-only projects (in dollars per kilowatt hour) | $ / kWh									0.095
Expected savings, phase 1, percent									20.00%
Performance incentive mechanism, incentive cap								$ 3,000,000	$ 3,500,000
Expected savings, Phase 2, January 2019									15.00%
Expected savings, Phase 2, February 2019									10.00%
Expected savings, Phase 2, March 2019									5.00%
Performance incentive mechanism penalty									$ 0
Number of contracts which qualified for incentives under Phase 1 | contract		6
Incentives accrued										$ 12,900
Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory Projects and Legal Obligations [Line Items]
Threshold of capital expenditures in excess of contributions			$ 2,500,000
MPIR requested amount	$ 24,200,000							$ 19,800,000	$ 3,600,000
Maximum penalty, percent of ROE							0.20%
Call center performance, maximum penalty percentage							0.08%
Call center performance, maximum penalty amount				$ 300,000
Grid Modernization Strategy Phase 1 Project | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory Projects and Legal Obligations [Line Items]
MPIR requested amount	500,000
Schofield Generation Station | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory Projects and Legal Obligations [Line Items]
MPIR requested amount	19,200,000
West Loch PV Project | Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory Projects and Legal Obligations [Line Items]
MPIR requested amount	$ 4,500,000

Electric utility segment - Annu

Electric utility segment - Annual decoupling filings summary (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Regulatory Projects and Legal Obligations [Line Items]
2019 Annual incremental RAM adjusted revenues	$ 29.5
Annual change in accrued RBA balance as of December 31, 2019 (and associated revenue taxes) which incorporates MPIR recovery	(67.4)
Incremental Performance Incentive Mechanisms (net)	2
Net annual incremental amount to be collected (refunded) under the tariffs	(35.9)
Hawaiian Electric (parent only)
Regulatory Projects and Legal Obligations [Line Items]
2019 Annual incremental RAM adjusted revenues	20.6
Annual change in accrued RBA balance as of December 31, 2019 (and associated revenue taxes) which incorporates MPIR recovery	(46.5)
Incremental Performance Incentive Mechanisms (net)	2.2
Net annual incremental amount to be collected (refunded) under the tariffs	(23.7)
HELCO
Regulatory Projects and Legal Obligations [Line Items]
2019 Annual incremental RAM adjusted revenues	3.2
Annual change in accrued RBA balance as of December 31, 2019 (and associated revenue taxes) which incorporates MPIR recovery	(9.9)
Incremental Performance Incentive Mechanisms (net)	(0.1)
Net annual incremental amount to be collected (refunded) under the tariffs	(6.8)
Maui Electric
Regulatory Projects and Legal Obligations [Line Items]
2019 Annual incremental RAM adjusted revenues	5.7
Annual change in accrued RBA balance as of December 31, 2019 (and associated revenue taxes) which incorporates MPIR recovery	(11)
Incremental Performance Incentive Mechanisms (net)	(0.1)
Net annual incremental amount to be collected (refunded) under the tariffs	$ (5.4)

Electric utility segment - Rate

Electric utility segment - Rate proceedings (Details) - USD ($) $ in Millions	Nov. 13, 2019	Aug. 21, 2019
Hawaiian Electric (parent only)
Regulatory Projects and Legal Obligations [Line Items]
General rate increase, revenue		$ 77.6
Stipulated ROACE rate		10.50%
General rate increase, revenue, percent		4.10%
Assumptions on rate of return, return on average common equity, percentage decrease		8.00%
HELCO
Regulatory Projects and Legal Obligations [Line Items]
Effective interest rate of return	7.52%
Stipulated ROACE rate	9.50%
Common equity capitalization rate	58.00%
Rate Base	$ 543
Interim revenue requirement	$ 387

Electric utility segment - Cond

Electric utility segment - Condensed consolidating statement of income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Income Statements, Captions [Line Items]
Revenues	$ 677,186	$ 661,615
Expenses
Total expenses	617,484	583,678
Total operating income	59,702	77,937
Allowance for equity funds used during construction	2,015	2,910
Retirement defined benefits expense—other than service costs	(934)	(763)
Allowance for borrowed funds used during construction	688	1,078
Income before income taxes	39,696	58,039
Income taxes	5,803	11,878
Net income	33,893	46,161
Preferred stock dividends of subsidiaries	473	473
Net income for common stock	33,420	45,688
Consolidating adjustments
Condensed Income Statements, Captions [Line Items]
Revenues	(215)	(32)
Expenses
Fuel oil	0	0
Purchased power	0	0
Other operation and maintenance	0	0
Depreciation	0	0
Taxes, other than income taxes	0	0
Total expenses	0	0
Total operating income	(215)	(32)
Allowance for equity funds used during construction	0	0
Equity in earnings of subsidiaries	(8,804)	(11,849)
Retirement defined benefits expense—other than service costs	0	0
Interest expense and other charges, net	215	32
Allowance for borrowed funds used during construction	0	0
Income before income taxes	(8,804)	(11,849)
Income taxes		0
Net income	(8,804)	(11,849)
Preferred stock dividends of subsidiaries		0
Net income attributable to Hawaiian Electric	(8,804)	(11,849)
Preferred stock dividends of Hawaiian Electric	0	0
Net income for common stock	(8,804)	(11,849)
Hawaiian Electric (parent only)
Expenses
Purchased power	140,000	134,000
Hawaiian Electric (parent only) | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	421,166	405,669
Expenses
Fuel oil	120,535	108,922
Purchased power	107,951	105,223
Other operation and maintenance	85,637	81,178
Depreciation	38,011	35,867
Taxes, other than income taxes	40,501	38,631
Total expenses	392,635	369,821
Total operating income	28,531	35,848
Allowance for equity funds used during construction	1,743	2,447
Equity in earnings of subsidiaries	8,804	11,849
Retirement defined benefits expense—other than service costs	(546)	(567)
Interest expense and other charges, net	(12,002)	(12,800)
Allowance for borrowed funds used during construction	602	902
Income before income taxes	27,132	37,679
Income taxes	2,957	5,283
Net income	24,175	32,396
Preferred stock dividends of subsidiaries	0	0
Net income attributable to Hawaiian Electric	24,175	32,396
Preferred stock dividends of Hawaiian Electric	270	270
Net income for common stock	23,905	32,126
HELCO | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	89,293	87,205
Expenses
Fuel oil	22,432	20,842
Purchased power	19,521	19,177
Other operation and maintenance	19,104	18,736
Depreciation	9,760	10,453
Taxes, other than income taxes	8,342	8,105
Total expenses	79,159	77,313
Total operating income	10,134	9,892
Allowance for equity funds used during construction	119	132
Equity in earnings of subsidiaries	0	0
Retirement defined benefits expense—other than service costs	194	(106)
Interest expense and other charges, net	(2,484)	(2,901)
Allowance for borrowed funds used during construction	36	56
Income before income taxes	7,999	7,073
Income taxes	1,798	1,770
Net income	6,201	5,303
Preferred stock dividends of subsidiaries	134	134
Net income attributable to Hawaiian Electric	6,067	5,169
Preferred stock dividends of Hawaiian Electric	0	0
Net income for common stock	6,067	5,169
Maui Electric | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	87,198	85,653
Expenses
Fuel oil	30,254	30,845
Purchased power	12,344	10,045
Other operation and maintenance	22,806	18,216
Depreciation	8,079	7,627
Taxes, other than income taxes	8,207	8,068
Total expenses	81,690	74,801
Total operating income	5,508	10,852
Allowance for equity funds used during construction	153	331
Equity in earnings of subsidiaries	0	0
Retirement defined benefits expense—other than service costs	(29)	(30)
Interest expense and other charges, net	(2,323)	(2,317)
Allowance for borrowed funds used during construction	50	120
Income before income taxes	3,359	8,956
Income taxes	527	2,181
Net income	2,832	6,775
Preferred stock dividends of subsidiaries	95	95
Net income attributable to Hawaiian Electric	2,737	6,680
Preferred stock dividends of Hawaiian Electric	0	0
Net income for common stock	2,737	6,680
Other subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	0	0
Expenses
Fuel oil	0	0
Purchased power	0	0
Other operation and maintenance	0	0
Depreciation	0	0
Taxes, other than income taxes	0	0
Total expenses	0	0
Total operating income	0	0
Allowance for equity funds used during construction	0	0
Equity in earnings of subsidiaries	0	0
Retirement defined benefits expense—other than service costs	0	0
Interest expense and other charges, net	0	0
Allowance for borrowed funds used during construction	0	0
Income before income taxes	0	0
Income taxes		0
Net income	0	0
Preferred stock dividends of subsidiaries	0	0
Net income attributable to Hawaiian Electric	0	0
Preferred stock dividends of Hawaiian Electric	0	0
Net income for common stock	0	0
Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenues	597,442	578,495
Expenses
Fuel oil	173,221	160,609
Purchased power	139,816	134,445
Other operation and maintenance	127,547	118,130
Depreciation	55,850	53,947
Taxes, other than income taxes	57,050	54,804
Total expenses	553,484	521,935
Total operating income	43,958	56,560
Allowance for equity funds used during construction	2,015	2,910
Equity in earnings of subsidiaries	0	0
Retirement defined benefits expense—other than service costs	(381)	(703)
Interest expense and other charges, net	(16,594)	(17,986)
Allowance for borrowed funds used during construction	688	1,078
Income before income taxes	29,686	41,859
Income taxes	5,282	9,234
Net income	24,404	32,625
Preferred stock dividends of subsidiaries	229	229
Net income attributable to Hawaiian Electric	24,175	32,396
Preferred stock dividends of Hawaiian Electric	270	270
Net income for common stock	$ 23,905	$ 32,126

Electric utility segment - Co_2

Electric utility segment - Condensed consolidating statement of comprehensive income (loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Statement of Income Captions [Line Items]
Net income for common stock	$ 33,420	$ 45,688
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	5,706	2,503
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(5,158)	(2,298)
Other comprehensive income, net of taxes	18,212	9,241
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	51,632	54,929
Consolidating adjustments
Condensed Statement of Income Captions [Line Items]
Net income for common stock	(8,804)	(11,849)
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	(1,400)	(641)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	1,399	640
Other comprehensive income, net of taxes	(1)	(1)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	(8,805)	(11,850)
Hawaiian Electric (parent only) | Reportable Legal Entities
Condensed Statement of Income Captions [Line Items]
Net income for common stock	23,905	32,126
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	5,184	2,322
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(5,158)	(2,298)
Other comprehensive income, net of taxes	26	24
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	23,931	32,150
HELCO | Reportable Legal Entities
Condensed Statement of Income Captions [Line Items]
Net income for common stock	6,067	5,169
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	748	352
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(747)	(351)
Other comprehensive income, net of taxes	1	1
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	6,068	5,170
Maui Electric | Reportable Legal Entities
Condensed Statement of Income Captions [Line Items]
Net income for common stock	2,737	6,680
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	652	289
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(652)	(289)
Other comprehensive income, net of taxes	0	0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	2,737	6,680
Other subsidiaries | Reportable Legal Entities
Condensed Statement of Income Captions [Line Items]
Net income for common stock	0	0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	0	0
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	0	0
Other comprehensive income, net of taxes	0	0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	0	0
Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Statement of Income Captions [Line Items]
Net income for common stock	23,905	32,126
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	5,184	2,322
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(5,158)	(2,298)
Other comprehensive income, net of taxes	26	24
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 23,931	$ 32,150

Electric utility segment - Co_3

Electric utility segment - Condensed consolidating balance sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Utility property, plant and equipment
Total property, plant and equipment, net	$ 5,150,385		$ 5,109,628
Current assets
Cash and Cash Equivalents, at Carrying Value	205,514		196,813	$ 186,407
Restricted Cash and Cash Equivalents	30,902		30,872	0
Other long-term assets
Operating lease right-of-use assets	200,842		199,171
Total assets	13,849,018	$ 13,745,251	13,745,251
Capitalization
Total shareholders’ equity	2,276,505	2,280,260	2,280,260	2,183,515	$ 2,162,280
Cumulative preferred stock—not subject to mandatory redemption	0		0
Current liabilities
Interest and preferred dividends payable	32,588		24,941
Deferred credits and other liabilities
Deferred income taxes	382,872	379,324	379,324
Total liabilities and shareholders’ equity	13,849,018	$ 13,745,251	13,745,251
Consolidating adjustments
Utility property, plant and equipment
Land	0		0
Plant and equipment	0		0
Less accumulated depreciation	0		0
Construction in progress	0		0
Utility property, plant and equipment, net	0		0
Nonutility property, plant and equipment, less accumulated depreciation	0		0
Total property, plant and equipment, net	0		0
Investment in wholly owned subsidiaries, at equity	(593,097)		(591,969)
Current assets
Cash and Cash Equivalents, at Carrying Value	0		0
Restricted Cash and Cash Equivalents	0		0
Advances to affiliates	(44,700)		(35,700)
Customer accounts receivable, net	0		0
Accrued unbilled revenues, net	0		0
Other accounts receivable, net	(11,269)		(10,695)
Fuel oil stock, at average cost	0		0
Materials and supplies, at average cost	0		0
Prepayments and other	(1,576)		0
Regulatory assets	0		0
Total current assets	(57,545)		(46,395)
Other long-term assets
Operating lease right-of-use assets	0		0
Regulatory assets	0		0
Other	0		0
Total other long-term assets	0		0
Total assets	(650,642)		(638,364)
Capitalization
Total shareholders’ equity	(593,097)		(591,969)	(582,374)	(576,838)
Cumulative preferred stock—not subject to mandatory redemption	0		0
Long-term debt, net	0		0
Total capitalization	(593,097)		(591,969)
Current liabilities
Current portion of operating lease liabilities	0		0
Current portion of long-term debt	0		0
Short-term borrowings from non-affiliates	0		0
Short-term borrowings from affiliate	(44,700)		(35,700)
Accounts payable	0		0
Interest and preferred dividends payable	(89)		(46)
Taxes accrued	(1,576)		0
Regulatory liabilities	0		0
Other	(11,180)		(10,649)
Total current liabilities	(57,545)		(46,395)
Deferred credits and other liabilities
Operating lease liabilities	0		0
Deferred income taxes	0		0
Regulatory liabilities	0		0
Unamortized tax credits	0		0
Defined benefit pension and other postretirement benefit plans liability	0		0
Other	0		0
Total deferred credits and other liabilities	0		0
Total liabilities and shareholders’ equity	(650,642)		(638,364)
Hawaiian Electric (parent only) | Reportable Legal Entities
Utility property, plant and equipment
Land	42,389		42,598
Plant and equipment	4,821,180		4,765,362
Less accumulated depreciation	(1,614,651)		(1,591,241)
Construction in progress	164,467		165,137
Utility property, plant and equipment, net	3,413,385		3,381,856
Nonutility property, plant and equipment, less accumulated depreciation	5,309		5,310
Total property, plant and equipment, net	3,418,694		3,387,166
Investment in wholly owned subsidiaries, at equity	593,097		591,969
Current assets
Cash and Cash Equivalents, at Carrying Value	4,589		2,239
Restricted Cash and Cash Equivalents	30,902		30,749
Advances to affiliates	44,700		27,700
Customer accounts receivable, net	113,999		105,454
Accrued unbilled revenues, net	81,468		83,148
Other accounts receivable, net	17,593		18,396
Fuel oil stock, at average cost	65,688		69,003
Materials and supplies, at average cost	35,006		34,876
Prepayments and other	28,445		88,334
Regulatory assets	25,490		27,689
Total current assets	447,880		487,588
Other long-term assets
Operating lease right-of-use assets	175,205		174,886
Regulatory assets	466,795		476,390
Other	73,796		69,010
Total other long-term assets	715,796		720,286
Total assets	5,175,467		5,187,009
Capitalization
Total shareholders’ equity	2,044,499		2,047,352	1,964,478	1,957,641
Cumulative preferred stock—not subject to mandatory redemption	22,293		22,293
Long-term debt, net	1,101,614		1,006,737
Total capitalization	3,168,406		3,076,382
Current liabilities
Current portion of operating lease liabilities	63,616		63,582
Current portion of long-term debt	0		61,958
Short-term borrowings from non-affiliates	99,956		88,987
Short-term borrowings from affiliate	0		8,000
Accounts payable	113,932		139,056
Interest and preferred dividends payable	20,095		14,759
Taxes accrued	109,383		143,522
Regulatory liabilities	19,762		13,363
Other	50,411		51,295
Total current liabilities	477,155		584,522
Deferred credits and other liabilities
Operating lease liabilities	117,183		111,598
Deferred income taxes	269,478		265,864
Regulatory liabilities	670,187		664,894
Unamortized tax credits	84,309		86,852
Defined benefit pension and other postretirement benefit plans liability	333,716		339,471
Other	55,033		57,426
Total deferred credits and other liabilities	1,529,906		1,526,105
Total liabilities and shareholders’ equity	5,175,467		5,187,009
HELCO | Reportable Legal Entities
Utility property, plant and equipment
Land	5,606		5,606
Plant and equipment	1,317,355		1,313,727
Less accumulated depreciation	(581,038)		(574,615)
Construction in progress	12,530		9,993
Utility property, plant and equipment, net	754,453		754,711
Nonutility property, plant and equipment, less accumulated depreciation	115		114
Total property, plant and equipment, net	754,568		754,825
Investment in wholly owned subsidiaries, at equity	0		0
Current assets
Cash and Cash Equivalents, at Carrying Value	4,654		6,885
Restricted Cash and Cash Equivalents	0		123
Advances to affiliates	0		8,000
Customer accounts receivable, net	23,327		24,520
Accrued unbilled revenues, net	16,468		17,071
Other accounts receivable, net	2,596		1,907
Fuel oil stock, at average cost	8,684		8,901
Materials and supplies, at average cost	9,153		8,313
Prepayments and other	3,816		3,725
Regulatory assets	1,928		1,641
Total current assets	70,626		81,086
Other long-term assets
Operating lease right-of-use assets	1,514		1,537
Regulatory assets	105,956		109,163
Other	17,316		15,493
Total other long-term assets	124,786		126,193
Total assets	949,980		962,104
Capitalization
Total shareholders’ equity	300,986		298,998	298,497	295,874
Cumulative preferred stock—not subject to mandatory redemption	7,000		7,000
Long-term debt, net	206,437		206,416
Total capitalization	514,423		512,414
Current liabilities
Current portion of operating lease liabilities	96		94
Current portion of long-term debt	13,997		13,995
Short-term borrowings from non-affiliates	0		0
Short-term borrowings from affiliate	2,500		0
Accounts payable	14,401		25,629
Interest and preferred dividends payable	3,806		3,115
Taxes accrued	26,846		32,541
Regulatory liabilities	12,813		9,454
Other	11,196		11,362
Total current liabilities	85,655		96,190
Deferred credits and other liabilities
Operating lease liabilities	1,418		1,442
Deferred income taxes	53,374		53,534
Regulatory liabilities	178,479		178,474
Unamortized tax credits	15,985		16,196
Defined benefit pension and other postretirement benefit plans liability	68,756		69,928
Other	31,890		33,926
Total deferred credits and other liabilities	349,902		353,500
Total liabilities and shareholders’ equity	949,980		962,104
Maui Electric | Reportable Legal Entities
Utility property, plant and equipment
Land	3,612		3,612
Plant and equipment	1,167,120		1,161,199
Less accumulated depreciation	(530,414)		(524,301)
Construction in progress	22,532		17,944
Utility property, plant and equipment, net	662,850		658,454
Nonutility property, plant and equipment, less accumulated depreciation	1,532		1,532
Total property, plant and equipment, net	664,382		659,986
Investment in wholly owned subsidiaries, at equity	0		0
Current assets
Cash and Cash Equivalents, at Carrying Value	3,065		1,797
Restricted Cash and Cash Equivalents	0		0
Advances to affiliates	0		0
Customer accounts receivable, net	21,354		22,816
Accrued unbilled revenues, net	15,844		17,008
Other accounts receivable, net	2,327		1,960
Fuel oil stock, at average cost	15,155		14,033
Materials and supplies, at average cost	17,039		17,513
Prepayments and other	5,222		24,921
Regulatory assets	1,549		1,380
Total current assets	81,555		101,428
Other long-term assets
Operating lease right-of-use assets	378		386
Regulatory assets	96,926		98,817
Other	17,781		17,215
Total other long-term assets	115,085		116,418
Total assets	861,022		877,832
Capitalization
Total shareholders’ equity	292,010		292,870	283,776	280,863
Cumulative preferred stock—not subject to mandatory redemption	5,000		5,000
Long-term debt, net	188,587		188,561
Total capitalization	485,597		486,431
Current liabilities
Current portion of operating lease liabilities	31		31
Current portion of long-term debt	0		20,000
Short-term borrowings from non-affiliates	0		0
Short-term borrowings from affiliate	42,200		27,700
Accounts payable	17,602		23,085
Interest and preferred dividends payable	4,129		2,900
Taxes accrued	24,338		31,929
Regulatory liabilities	10,136		7,907
Other	15,321		15,297
Total current liabilities	113,757		128,849
Deferred credits and other liabilities
Operating lease liabilities	352		360
Deferred income taxes	58,017		57,752
Regulatory liabilities	98,593		98,218
Unamortized tax credits	14,584		14,820
Defined benefit pension and other postretirement benefit plans liability	68,339		69,364
Other	21,783		22,038
Total deferred credits and other liabilities	261,668		262,552
Total liabilities and shareholders’ equity	861,022		877,832
Other subsidiaries | Reportable Legal Entities
Utility property, plant and equipment
Land	0		0
Plant and equipment	0		0
Less accumulated depreciation	0		0
Construction in progress	0		0
Utility property, plant and equipment, net	0		0
Nonutility property, plant and equipment, less accumulated depreciation	0		0
Total property, plant and equipment, net	0		0
Investment in wholly owned subsidiaries, at equity	0		0
Current assets
Cash and Cash Equivalents, at Carrying Value	101		101
Restricted Cash and Cash Equivalents	0		0
Advances to affiliates	0		0
Customer accounts receivable, net	0		0
Accrued unbilled revenues, net	0		0
Other accounts receivable, net	0		0
Fuel oil stock, at average cost	0		0
Materials and supplies, at average cost	0		0
Prepayments and other	0		0
Regulatory assets	0		0
Total current assets	101		101
Other long-term assets
Operating lease right-of-use assets	0		0
Regulatory assets	0		0
Other	0		0
Total other long-term assets	0		0
Total assets	101		101
Capitalization
Total shareholders’ equity	101		101	101	101
Cumulative preferred stock—not subject to mandatory redemption	0		0
Long-term debt, net	0		0
Total capitalization	101		101
Current liabilities
Current portion of operating lease liabilities	0		0
Current portion of long-term debt	0		0
Short-term borrowings from non-affiliates	0		0
Short-term borrowings from affiliate	0		0
Accounts payable	0		0
Interest and preferred dividends payable	0		0
Taxes accrued	0		0
Regulatory liabilities	0		0
Other	0		0
Total current liabilities	0		0
Deferred credits and other liabilities
Operating lease liabilities	0		0
Deferred income taxes	0		0
Regulatory liabilities	0		0
Unamortized tax credits	0		0
Defined benefit pension and other postretirement benefit plans liability	0		0
Other	0		0
Total deferred credits and other liabilities	0		0
Total liabilities and shareholders’ equity	101		101
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Land	51,607		51,816
Plant and equipment	7,305,655		7,240,288
Less accumulated depreciation	(2,726,103)		(2,690,157)
Construction in progress	199,529		193,074
Utility property, plant and equipment, net	4,830,688		4,795,021
Nonutility property, plant and equipment, less accumulated depreciation	6,956		6,956
Total property, plant and equipment, net	4,837,644		4,801,977
Investment in wholly owned subsidiaries, at equity	0		0
Current assets
Cash and Cash Equivalents, at Carrying Value	12,409		11,022	8,381
Restricted Cash and Cash Equivalents	30,902		30,872	0
Advances to affiliates	0		0
Customer accounts receivable, net	158,680		152,790
Accrued unbilled revenues, net	113,780		117,227
Other accounts receivable, net	11,247		11,568
Fuel oil stock, at average cost	89,527		91,937
Materials and supplies, at average cost	61,198		60,702
Prepayments and other	35,907		116,980
Regulatory assets	28,967		30,710
Total current assets	542,617		623,808
Other long-term assets
Operating lease right-of-use assets	177,097		176,809
Regulatory assets	669,677		684,370
Other	108,893		101,718
Total other long-term assets	955,667		962,897
Total assets	6,335,928		6,388,682
Capitalization
Total shareholders’ equity	2,044,499		2,047,352	$ 1,964,478	$ 1,957,641
Cumulative preferred stock—not subject to mandatory redemption	34,293		34,293
Long-term debt, net	1,496,638		1,401,714
Total capitalization	3,575,430		3,483,359
Current liabilities
Current portion of operating lease liabilities	63,743		63,707
Current portion of long-term debt	13,997		95,953
Short-term borrowings from non-affiliates	99,956		88,987
Short-term borrowings from affiliate	0		0
Accounts payable	145,935		187,770
Interest and preferred dividends payable	27,941		20,728
Taxes accrued	158,991		207,992
Regulatory liabilities	42,711		30,724
Other	65,748		67,305
Total current liabilities	619,022		763,166
Deferred credits and other liabilities
Operating lease liabilities	118,953		113,400
Deferred income taxes	380,869		377,150
Regulatory liabilities	947,259		941,586
Unamortized tax credits	114,878		117,868
Defined benefit pension and other postretirement benefit plans liability	470,811		478,763
Other	108,706		113,390
Total deferred credits and other liabilities	2,141,476		2,142,157
Total liabilities and shareholders’ equity	$ 6,335,928		$ 6,388,682

Electric utility segment - Co_4

Electric utility segment - Condensed consolidating statement of changes in common stock equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Increase (decrease) in stockholders' equity
Beginning Balance	$ 2,280,260	$ 2,162,280
Net income for common stock	33,420	45,688
Other comprehensive income, net of taxes	18,212	9,241
Common stock dividends	(36,019)	(34,860)
Ending Balance	2,276,505	2,183,515
Consolidating adjustments
Increase (decrease) in stockholders' equity
Beginning Balance	(591,969)	(576,838)
Net income for common stock	(8,804)	(11,849)
Other comprehensive income, net of taxes	(1)	(1)
Common stock dividends	7,676	6,312
Common stock issuance expenses	1	2
Ending Balance	(593,097)	(582,374)
Hawaiian Electric (parent only) | Reportable Legal Entities
Increase (decrease) in stockholders' equity
Beginning Balance	2,047,352	1,957,641
Net income for common stock	23,905	32,126
Other comprehensive income, net of taxes	26	24
Common stock dividends	(26,784)	(25,313)
Common stock issuance expenses	0	0
Ending Balance	2,044,499	1,964,478
HELCO | Reportable Legal Entities
Increase (decrease) in stockholders' equity
Beginning Balance	298,998	295,874
Net income for common stock	6,067	5,169
Other comprehensive income, net of taxes	1	1
Common stock dividends	(4,080)	(2,545)
Common stock issuance expenses	0	(2)
Ending Balance	300,986	298,497
Maui Electric | Reportable Legal Entities
Increase (decrease) in stockholders' equity
Beginning Balance	292,870	280,863
Net income for common stock	2,737	6,680
Other comprehensive income, net of taxes	0	0
Common stock dividends	(3,596)	(3,767)
Common stock issuance expenses	(1)	0
Ending Balance	292,010	283,776
Other subsidiaries | Reportable Legal Entities
Increase (decrease) in stockholders' equity
Beginning Balance	101	101
Net income for common stock	0	0
Other comprehensive income, net of taxes	0	0
Common stock dividends	0	0
Common stock issuance expenses	0	0
Ending Balance	101	101
Hawaiian Electric Company, Inc. and Subsidiaries
Increase (decrease) in stockholders' equity
Beginning Balance	2,047,352	1,957,641
Net income for common stock	23,905	32,126
Other comprehensive income, net of taxes	26	24
Common stock dividends	(26,784)	(25,313)
Common stock issuance expenses	0	0
Ending Balance	$ 2,044,499	$ 1,964,478

Electric utility segment - Co_5

Electric utility segment - Condensed consolidating statement of cash flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Cash flows from operating activities
Net cash provided by operating activities	$ 61,293	$ 77,169
Cash flows from investing activities
Capital expenditures	(125,554)	(120,424)
Other	2,942	3,932
Net cash used in investing activities	(260,463)	(82,978)
Cash flows from financing activities
Common stock dividends	(36,018)	(34,860)
Proceeds from issuance of short-term debt	(135,710)	11,407
Proceeds from issuance of long-term debt	186,925	550
Repayment of long-term debt	(909)	0
Net increase (decrease) in other bank borrowings with original maturities of three months or less	42,495	(20,170)
Other	(4,590)	(4,257)
Net cash provided by financing activities	207,901	23,008
Net increase in cash, cash equivalents and restricted cash	8,731	17,199
Cash, cash equivalents and restricted cash, beginning of period	227,685	169,208
Cash, cash equivalents and restricted cash, end of period	236,416	186,407
Less: Restricted cash	(30,902)	0	$ (30,872)
Cash and cash equivalents, end of period	205,514	186,407	196,813
Consolidating adjustments
Cash flows from operating activities
Net cash provided by operating activities	(7,272)	(6,311)
Cash flows from investing activities
Capital expenditures	0	0
Advances from (to) affiliates	9,000	18,700
Other	(404)	0
Net cash used in investing activities	8,596	18,700
Cash flows from financing activities
Common stock dividends	7,676	6,311
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	0
Proceeds from issuance of short-term debt	0	0
Proceeds from issuance of long-term debt	0
Net increase (decrease) in other bank borrowings with original maturities of three months or less	(9,000)	(18,700)
Other	0	0
Net cash provided by financing activities	(1,324)	(12,389)
Net increase in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period	0	0
Less: Restricted cash	0		0
Cash and cash equivalents, end of period	0		0
Hawaiian Electric (parent only) | Reportable Legal Entities
Cash flows from operating activities
Net cash provided by operating activities	29,004	58,145
Cash flows from investing activities
Capital expenditures	(83,191)	(78,220)
Advances from (to) affiliates	(17,000)	(9,500)
Other	2,752	1,221
Net cash used in investing activities	(97,439)	(86,499)
Cash flows from financing activities
Common stock dividends	(26,784)	(25,313)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(270)	(270)
Proceeds from issuance of short-term debt	50,000	25,000
Proceeds from issuance of long-term debt	95,000
Net increase (decrease) in other bank borrowings with original maturities of three months or less	(46,987)	15,199
Other	(21)	0
Net cash provided by financing activities	70,938	14,616
Net increase in cash, cash equivalents and restricted cash	2,503	(13,738)
Cash, cash equivalents and restricted cash, beginning of period	32,988	16,732
Cash, cash equivalents and restricted cash, end of period	35,491	2,994
Less: Restricted cash	(30,902)		(30,749)
Cash and cash equivalents, end of period	4,589		2,239
HELCO | Reportable Legal Entities
Cash flows from operating activities
Net cash provided by operating activities	9,478	8,745
Cash flows from investing activities
Capital expenditures	(18,181)	(8,371)
Advances from (to) affiliates	8,000	(9,200)
Other	64	(293)
Net cash used in investing activities	(10,117)	(17,864)
Cash flows from financing activities
Common stock dividends	(4,080)	(2,544)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(134)	(134)
Proceeds from issuance of short-term debt	0	0
Proceeds from issuance of long-term debt	0
Net increase (decrease) in other bank borrowings with original maturities of three months or less	2,500	0
Other	(1)	(1)
Net cash provided by financing activities	(1,715)	(2,679)
Net increase in cash, cash equivalents and restricted cash	(2,354)	(11,798)
Cash, cash equivalents and restricted cash, beginning of period	7,008	15,623
Cash, cash equivalents and restricted cash, end of period	4,654	3,825
Less: Restricted cash	0		(123)
Cash and cash equivalents, end of period	4,654		6,885
Maui Electric | Reportable Legal Entities
Cash flows from operating activities
Net cash provided by operating activities	7,931	8,837
Cash flows from investing activities
Capital expenditures	(17,772)	(16,300)
Advances from (to) affiliates	0	0
Other	301	(134)
Net cash used in investing activities	(17,471)	(16,434)
Cash flows from financing activities
Common stock dividends	(3,596)	(3,767)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(95)	(95)
Proceeds from issuance of short-term debt	0	0
Proceeds from issuance of long-term debt	0
Net increase (decrease) in other bank borrowings with original maturities of three months or less	14,500	9,500
Other	(1)	(1)
Net cash provided by financing activities	10,808	5,637
Net increase in cash, cash equivalents and restricted cash	1,268	(1,960)
Cash, cash equivalents and restricted cash, beginning of period	1,797	3,421
Cash, cash equivalents and restricted cash, end of period	3,065	1,461
Less: Restricted cash	0		0
Cash and cash equivalents, end of period	3,065		1,797
Other subsidiaries | Reportable Legal Entities
Cash flows from operating activities
Net cash provided by operating activities	0	0
Cash flows from investing activities
Capital expenditures	0	0
Advances from (to) affiliates	0	0
Other	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities
Common stock dividends	0	0
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	0
Proceeds from issuance of short-term debt	0	0
Proceeds from issuance of long-term debt	0
Net increase (decrease) in other bank borrowings with original maturities of three months or less	0	0
Other	0	0
Net cash provided by financing activities	0	0
Net increase in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	101	101
Cash, cash equivalents and restricted cash, end of period	101	101
Less: Restricted cash	0		0
Cash and cash equivalents, end of period	101		101
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net cash provided by operating activities	39,141	69,416
Cash flows from investing activities
Capital expenditures	(119,144)	(102,891)
Advances from (to) affiliates	0	0
Other	2,713	794
Net cash used in investing activities	(116,431)	(102,097)
Cash flows from financing activities
Common stock dividends	(26,784)	(25,313)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(499)	(499)
Proceeds from issuance of short-term debt	50,000	25,000
Proceeds from issuance of long-term debt	95,000	0
Net increase (decrease) in other bank borrowings with original maturities of three months or less	(38,987)	5,999
Other	(23)	(2)
Net cash provided by financing activities	78,707	5,185
Net increase in cash, cash equivalents and restricted cash	1,417	(27,496)
Cash, cash equivalents and restricted cash, beginning of period	41,894	35,877
Cash, cash equivalents and restricted cash, end of period	43,311	8,381
Less: Restricted cash	(30,902)	0	(30,872)
Cash and cash equivalents, end of period	$ 12,409	$ 8,381	$ 11,022

Bank segment - Income statement

Bank segment - Income statement data (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Noninterest income
Noninterest income	$ 618,605	$ 577,390
Noninterest expense
Income before income taxes	39,696	58,039
Income taxes	5,803	11,878
Net income	33,893	46,161
Other comprehensive income (loss), net of tax (benefits)	18,212	9,241
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	51,632	54,929
American Savings Bank (ASB)
Interest and dividend income
Interest and fees on loans	55,545	57,860
Interest and dividends on investment securities	9,430	10,628
Total interest and dividend income	64,975	68,488
Interest expense
Interest on deposit liabilities	3,587	4,252
Interest on other borrowings	313	528
Total interest expense	3,900	4,780
Net interest income	61,075	63,708
Provision for credit losses	10,401	6,870
Net interest income after provision for credit losses	50,674	56,838
Noninterest income
Total noninterest income	14,763	14,564
Noninterest expense
Compensation and employee benefits	25,777	25,512
Occupancy	5,267	4,670
Data processing	3,837	3,738
Services	2,809	2,426
Equipment	2,339	2,064
Office supplies, printing and postage	1,341	1,360
Marketing	802	990
FDIC insurance	102	626
Other expense	4,194	3,854
Total noninterest expense	46,468	45,240
Income before income taxes	18,969	26,162
Income taxes	3,208	5,323
Net income	15,761	20,839
Other comprehensive income (loss), net of tax (benefits)	19,847	6,252
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	35,608	27,091
American Savings Bank (ASB) | Fees from other financial services
Noninterest income
Noninterest income	4,571	4,562
American Savings Bank (ASB) | Fee income on deposit liabilities
Noninterest income
Noninterest income	5,113	5,078
American Savings Bank (ASB) | Fee income on other financial products
Noninterest income
Noninterest income	1,872	1,593
American Savings Bank (ASB) | Bank-owned life insurance
Noninterest income
Noninterest income	794	2,259
American Savings Bank (ASB) | Mortgage banking income
Noninterest income
Noninterest income	2,000	614
American Savings Bank (ASB) | Other income, net
Noninterest income
Noninterest income	$ 413	$ 458

Bank segment - Reconciliation o

Bank segment - Reconciliation of Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Income Statements, Captions [Line Items]
Total revenues	$ 677,186	$ 661,615
Less: Retirement defined benefits gain (expense)—other than service costs	(934)	(763)
Total expenses	617,484	583,678
Operating income	59,702	77,937
Income before income taxes	39,696	58,039
American Savings Bank (ASB)
Condensed Income Statements, Captions [Line Items]
Interest and dividend income	64,975	68,488
Total noninterest income	14,763	14,564
Total revenues	79,738	83,052
Total interest expense	3,900	4,780
Provision for credit losses	10,401	6,870
Noninterest expense	46,468	45,240
Less: Retirement defined benefits gain (expense)—other than service costs	434	(40)
Total expenses	60,335	56,930
Operating income	19,403	26,122
Income before income taxes	$ 18,969	$ 26,162

Bank segment - Balance sheet da

Bank segment - Balance sheet data (Details) - USD ($)	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Assets
Available-for-sale investment securities, at fair value	$ 1,340,241,000		$ 1,232,826,000
Held-to-maturity investment securities, at amortized cost	134,656,000		139,451,000
Stock in Federal Home Loan Bank, at cost	9,760,000		8,434,000
Allowance for credit losses	(77,084,000)		(53,355,000)
Net loans	5,103,848,000	$ 5,067,821,000	5,067,821,000
Loans held for sale, at lower of cost or fair value	18,155,000		12,286,000
Other	570,720,000		649,885,000
Goodwill	82,190,000		82,190,000
Total assets	13,849,018,000	13,745,251,000	13,745,251,000
Liabilities
Other	521,978,000	583,545,000	583,545,000
Total liabilities	11,538,220,000	11,430,698,000	11,430,698,000
Commitments and contingencies
Retained earnings	604,071,000	622,042,000	622,042,000
Accumulated other comprehensive loss, net of tax benefits
Accumulated other comprehensive loss, net of tax benefits	(1,827,000)		(20,039,000)
Total shareholders’ equity	2,276,505,000	2,280,260,000	2,280,260,000	$ 2,183,515,000	$ 2,162,280,000
Total liabilities and shareholders’ equity	13,849,018,000	13,745,251,000	13,745,251,000
Other assets
Premises and equipment, net	5,150,385,000		5,109,628,000
Other	570,720,000		649,885,000
Other liabilities
Total other liabilities	521,978,000	$ 583,545,000	583,545,000
Balance Sheet related disclosures
Held-to-maturity investment securities	142,570,000		143,467,000
Securities sold under agreements to repurchase	81,000,000		115,000,000
Federal funds purchased	50,000,000		0
American Savings Bank (ASB)
Assets
Cash and due from banks	186,897,000		129,770,000
Interest-bearing deposits	2,635,000		48,628,000
Available-for-sale investment securities, at fair value	1,340,241,000		1,232,826,000
Held-to-maturity investment securities, at amortized cost	134,656,000		139,451,000
Stock in Federal Home Loan Bank, at cost	9,760,000		8,434,000
Loans held for investment	5,180,932,000		5,121,176,000
Allowance for credit losses	(77,084,000)		(53,355,000)
Net loans	5,103,848,000		5,067,821,000
Loans held for sale, at lower of cost or fair value	18,155,000		12,286,000
Other	507,363,000		511,611,000
Goodwill	82,190,000		82,190,000
Total assets	7,385,745,000		7,233,017,000
Liabilities
Deposit liabilities—noninterest-bearing	1,969,694,000		1,909,682,000
Deposit liabilities—interest-bearing	4,414,089,000		4,362,220,000
Other borrowings	157,605,000		115,110,000
Other	152,365,000		146,954,000
Total liabilities	6,693,753,000		6,533,966,000
Commitments and contingencies
Common stock	1,000		1,000
Additional paid-in capital	350,158,000		349,453,000
Retained earnings	330,648,000		358,259,000
Accumulated other comprehensive loss, net of tax benefits
Net unrealized gains on securities	21,929,000		2,481,000
Retirement benefit plans	(10,744,000)		(11,143,000)
Accumulated other comprehensive loss, net of tax benefits	11,185,000		(8,662,000)
Total shareholders’ equity	691,992,000		699,051,000
Total liabilities and shareholders’ equity	7,385,745,000		7,233,017,000
Other assets
Bank-owned life insurance	158,269,000		157,465,000
Premises and equipment, net	203,622,000		204,449,000
Accrued interest receivable	19,490,000		19,365,000
Mortgage-servicing rights	9,120,000		9,101,000
Low-income housing investments	63,967,000		66,302,000
Real estate acquired in settlement of loans, net	139,000		0
Other	52,756,000		54,929,000
Other	507,363,000		511,611,000
Other liabilities
Accrued expenses	38,928,000		45,822,000
Federal and state income taxes payable	17,138,000		14,996,000
Cashier’s checks	32,372,000		23,647,000
Advance payments by borrowers	5,919,000		10,486,000
Other	58,008,000		52,003,000
Total other liabilities	152,365,000		146,954,000
Balance Sheet related disclosures
Held-to-maturity investment securities	142,570,000		143,467,000
Securities sold under agreements to repurchase	80,600,000		115,000,000
Advances from the Federal Home Loan Bank	$ 27,000,000		$ 0

Bank segment - Components of in

Bank segment - Components of investment securities (Details) $ in Thousands	Mar. 31, 2020USD ($)issue	Dec. 31, 2019USD ($)issue
Debt Securities, Available-for-sale [Abstract]
Amortized cost	$ 1,310,285	$ 1,229,438
Gross unrealized gains	30,724	8,015
Gross unrealized losses	(768)	(4,627)
Estimated fair value	$ 1,340,241	$ 1,232,826
Gross unrealized losses, Less than 12 months, Number of issues | issue	7	21
Gross unrealized losses, Less than 12 months, Fair value	$ 43,690	$ 156,181
Gross unrealized losses, Less than 12 months, Amount	$ (276)	$ (830)
Gross unrealized losses, 12 months or longer, Number of issues | issue	15	78
Gross unrealized losses, 12 months or longer, Fair value	$ 40,892	$ 345,657
Gross unrealized losses, 12 months or longer, Amount	(492)	(3,797)
Debt Securities, Held-to-maturity [Abstract]
Amortized cost	134,656	139,451
Gross unrealized gains	7,914	4,087
Gross unrealized losses	0	(71)
Held-to-maturity investment securities	$ 142,570	$ 143,467
Less Than 12 Months: Number Of Issues | issue	0	1
Less than 12 Months: Fair value	$ 0	$ 12,986
Less than 12 Months: Amount	$ 0	$ (71)
12 months or longer: Number of issues | issue	0	0
12 months or longer: Fair value	$ 0	$ 0
12 months or longer: Amount	0	0
U.S. Treasury and federal agency obligations
Debt Securities, Available-for-sale [Abstract]
Amortized cost	108,298	117,255
Gross unrealized gains	1,995	652
Gross unrealized losses	0	(120)
Estimated fair value	$ 110,293	$ 117,787
Gross unrealized losses, Less than 12 months, Number of issues | issue	0	2
Gross unrealized losses, Less than 12 months, Fair value	$ 0	$ 4,110
Gross unrealized losses, Less than 12 months, Amount	$ 0	$ (11)
Gross unrealized losses, 12 months or longer, Number of issues | issue	0	3
Gross unrealized losses, 12 months or longer, Fair value	$ 0	$ 27,637
Gross unrealized losses, 12 months or longer, Amount	0	(109)
Mortgage-backed securities*
Debt Securities, Available-for-sale [Abstract]
Amortized cost	1,114,580	1,024,892
Gross unrealized gains	27,493	6,000
Gross unrealized losses	(621)	(4,507)
Estimated fair value	$ 1,141,452	$ 1,026,385
Gross unrealized losses, Less than 12 months, Number of issues | issue	6	19
Gross unrealized losses, Less than 12 months, Fair value	$ 28,937	$ 152,071
Gross unrealized losses, Less than 12 months, Amount	$ (129)	$ (819)
Gross unrealized losses, 12 months or longer, Number of issues | issue	15	75
Gross unrealized losses, 12 months or longer, Fair value	$ 40,892	$ 318,020
Gross unrealized losses, 12 months or longer, Amount	(492)	(3,688)
Debt Securities, Held-to-maturity [Abstract]
Amortized cost	134,656	139,451
Gross unrealized gains	7,914	4,087
Gross unrealized losses	0	(71)
Held-to-maturity investment securities	$ 142,570	$ 143,467
Less Than 12 Months: Number Of Issues | issue	0	1
Less than 12 Months: Fair value	$ 0	$ 12,986
Less than 12 Months: Amount	$ 0	$ (71)
12 months or longer: Number of issues | issue	0	0
12 months or longer: Fair value	$ 0	$ 0
12 months or longer: Amount	0	0
Corporate bonds
Debt Securities, Available-for-sale [Abstract]
Amortized cost	58,681	58,694
Gross unrealized gains	1,236	1,363
Gross unrealized losses	(147)	0
Estimated fair value	$ 59,770	$ 60,057
Gross unrealized losses, Less than 12 months, Number of issues | issue	1	0
Gross unrealized losses, Less than 12 months, Fair value	$ 14,753	$ 0
Gross unrealized losses, Less than 12 months, Amount	$ (147)	$ 0
Gross unrealized losses, 12 months or longer, Number of issues | issue	0	0
Gross unrealized losses, 12 months or longer, Fair value	$ 0	$ 0
Gross unrealized losses, 12 months or longer, Amount	0	0
Mortgage revenue bonds
Debt Securities, Available-for-sale [Abstract]
Amortized cost	28,726	28,597
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Estimated fair value	$ 28,726	$ 28,597
Gross unrealized losses, Less than 12 months, Number of issues | issue	0	0
Gross unrealized losses, Less than 12 months, Fair value		$ 0
Gross unrealized losses, Less than 12 months, Amount		$ 0
Gross unrealized losses, 12 months or longer, Number of issues | issue	0	0
Gross unrealized losses, 12 months or longer, Fair value	$ 0	$ 0
Gross unrealized losses, 12 months or longer, Amount	$ 0	$ 0

Bank segment - Contractual matu

Bank segment - Contractual maturities of securities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Available-for-sale Securities, Debt Maturities [Abstract]
Due in one year or less	$ 60,299
Due after one year through five years	70,894
Due after five years through ten years	49,085
Due after ten years	15,427
Total amortized cost	195,705
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	1,114,580
Amortized cost	1,310,285	$ 1,229,438
Held-to-Maturity, Debt Securities, Amortized Cost [Abstract]
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	134,656
Amortized cost	134,656	139,451
Available-for-sale Securities, Debt Securities, Fair Value [Abstract]
Due in one year or less	60,622
Due after one year through five years	73,071
Due after five years through ten years	49,669
Due after ten years	15,427
Total fair value	198,789
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	1,141,452
Total available-for-sale securities	1,340,241	1,232,826
Held-to-maturity Securities, Debt Securities, Fair Value [Abstract]
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	142,570
Total held-to-maturity securities	$ 142,570	$ 143,467

Bank segment - Available-for-sa

Bank segment - Available-for-sale securities, narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Bank Subsidiary [Abstract]
Proceeds from sale of available-for-sale investment securities	$ 0	$ 0
Gross realized gains	$ 0	$ 0

Bank segment - Loans receivable

Bank segment - Loans receivable (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	$ 5,180,378		$ 5,120,664
Deferred fees and discounts	554		512
Allowance for credit losses	(77,084)		(53,355)
Net loans	$ 5,103,848	$ 5,067,821	5,067,821
Minimum benchmark percentage of loan to appraisal ratio which mortgage insurance is required	80.00%
Real Estate | Real estate loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	$ 4,211,978		4,192,069
Real Estate | Residential 1-4 family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	2,161,894		2,178,135
Real Estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	852,120		824,830
Real Estate | Home equity line of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	1,095,677		1,092,125
Real Estate | Residential land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	13,720		14,704
Real Estate | Commercial construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	79,377		70,605
Real Estate | Residential construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	9,190		11,670
Commercial | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	722,647		670,674
Consumer | Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	$ 245,753		$ 257,921

Bank segment - Allowance for cr

Bank segment - Allowance for credit losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	$ 53,355	$ 52,119
Charge-offs	(6,631)	(6,191)
Recoveries	1,018	1,499
Provision	9,901	6,870
Valuation allowance, balance at the end of the period	77,084	54,297
Ending balance: individually evaluated for impairment			$ 2,691
Ending balance: collectively evaluated for impairment			50,664
Financing Receivables:
Ending balance	5,180,378		5,120,664
Ending balance: individually evaluated for impairment			40,737
Ending balance: collectively evaluated for impairment			5,079,927
Residential 1-4 family
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	2,380	1,976
Charge-offs	0	(14)
Recoveries	53	609
Provision	(107)	(660)
Valuation allowance, balance at the end of the period	4,476	1,911
Ending balance: individually evaluated for impairment			898
Ending balance: collectively evaluated for impairment			1,482
Financing Receivables:
Ending balance			2,178,135
Ending balance: individually evaluated for impairment			15,600
Ending balance: collectively evaluated for impairment			2,162,535
Commercial real estate
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	15,053	14,505
Charge-offs	0	0
Recoveries	0	0
Provision	1,326	320
Valuation allowance, balance at the end of the period	16,587	14,825
Ending balance: individually evaluated for impairment			2
Ending balance: collectively evaluated for impairment			15,051
Financing Receivables:
Ending balance			824,830
Ending balance: individually evaluated for impairment			1,048
Ending balance: collectively evaluated for impairment			823,782
Home equity line of credit
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	6,922	6,371
Charge-offs	0	0
Recoveries	6	5
Provision	(162)	117
Valuation allowance, balance at the end of the period	6,225	6,493
Ending balance: individually evaluated for impairment			322
Ending balance: collectively evaluated for impairment			6,600
Financing Receivables:
Ending balance			1,092,125
Ending balance: individually evaluated for impairment			12,073
Ending balance: collectively evaluated for impairment			1,080,052
Residential land
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	449	479
Charge-offs	(8)	0
Recoveries	9	7
Provision	(34)	(61)
Valuation allowance, balance at the end of the period	352	425
Ending balance: individually evaluated for impairment			0
Ending balance: collectively evaluated for impairment			449
Financing Receivables:
Ending balance			14,704
Ending balance: individually evaluated for impairment			3,091
Ending balance: collectively evaluated for impairment			11,613
Commercial construction
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	2,097	2,790
Charge-offs	0	0
Recoveries	0	0
Provision	1,060	53
Valuation allowance, balance at the end of the period	3,446	2,843
Ending balance: individually evaluated for impairment			0
Ending balance: collectively evaluated for impairment			2,097
Financing Receivables:
Ending balance			70,605
Ending balance: individually evaluated for impairment			0
Ending balance: collectively evaluated for impairment			70,605
Residential construction
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	3	4
Charge-offs	0	0
Recoveries	0	0
Provision	(3)	(1)
Valuation allowance, balance at the end of the period	14	3
Ending balance: individually evaluated for impairment			0
Ending balance: collectively evaluated for impairment			3
Financing Receivables:
Ending balance			11,670
Ending balance: individually evaluated for impairment			0
Ending balance: collectively evaluated for impairment			11,670
Commercial loans
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	10,245	9,225
Charge-offs	(369)	(618)
Recoveries	186	180
Provision	1,993	2,027
Valuation allowance, balance at the end of the period	12,977	10,814
Ending balance: individually evaluated for impairment			1,015
Ending balance: collectively evaluated for impairment			9,230
Financing Receivables:
Ending balance			670,674
Ending balance: individually evaluated for impairment			8,418
Ending balance: collectively evaluated for impairment			662,256
Consumer loans
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	16,206	16,769
Charge-offs	(6,254)	(5,559)
Recoveries	764	698
Provision	5,828	5,075
Valuation allowance, balance at the end of the period	33,007	$ 16,983
Ending balance: individually evaluated for impairment			454
Ending balance: collectively evaluated for impairment			15,752
Financing Receivables:
Ending balance			257,921
Ending balance: individually evaluated for impairment			507
Ending balance: collectively evaluated for impairment			$ 257,414
Impact of ASU No. 2016-13
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	19,441
Impact of ASU No. 2016-13 | Residential 1-4 family
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	2,150
Impact of ASU No. 2016-13 | Commercial real estate
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	208
Impact of ASU No. 2016-13 | Home equity line of credit
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	(541)
Impact of ASU No. 2016-13 | Residential land
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	(64)
Impact of ASU No. 2016-13 | Commercial construction
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	289
Impact of ASU No. 2016-13 | Residential construction
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	14
Impact of ASU No. 2016-13 | Commercial loans
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	922
Impact of ASU No. 2016-13 | Consumer loans
Allowance for credit losses:
Valuation allowance, balance at the beginning of the period	$ 16,463

Bank segment - Allowance for lo

Bank segment - Allowance for loan commitments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Allowance for loan commitments:
Beginning balance, prior to adoption of ASU No. 2016-13	$ 1,741
Provision	500
Ending balance	3,800
Home equity line of credit
Allowance for loan commitments:
Beginning balance, prior to adoption of ASU No. 2016-13	392
Provision	0
Ending balance	300
Commercial construction
Allowance for loan commitments:
Beginning balance, prior to adoption of ASU No. 2016-13	931
Provision	515
Ending balance	3,191
Commercial loans
Allowance for loan commitments:
Beginning balance, prior to adoption of ASU No. 2016-13	418
Provision	(15)
Ending balance	309
Impact of ASU No. 2016-13
Allowance for loan commitments:
Beginning balance, prior to adoption of ASU No. 2016-13	1,559
Impact of ASU No. 2016-13 | Home equity line of credit
Allowance for loan commitments:
Beginning balance, prior to adoption of ASU No. 2016-13	(92)
Impact of ASU No. 2016-13 | Commercial construction
Allowance for loan commitments:
Beginning balance, prior to adoption of ASU No. 2016-13	1,745
Impact of ASU No. 2016-13 | Commercial loans
Allowance for loan commitments:
Beginning balance, prior to adoption of ASU No. 2016-13	$ (94)

Bank segment - Credit risk prof

Bank segment - Credit risk profile - payment activity and assigned grades (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Credit risk profile by internally assigned grade for loans
March 31, 2020	$ 221,299
December 31, 2019	723,689
December 31, 2018	530,366
December 31, 2017	433,312
December 31, 2016	424,943
Prior	1,474,439
Revolving loans	1,318,782
Revolving loans converted to term loans	53,548
Total	5,180,378
Residential 1-4 family
Credit risk profile by internally assigned grade for loans
March 31, 2020	72,453
December 31, 2019	292,483
December 31, 2018	194,702
December 31, 2017	276,506
December 31, 2016	230,723
Prior	1,095,027
Revolving loans	0
Revolving loans converted to term loans	0
Total	2,161,894
Residential 1-4 family | Current
Credit risk profile by internally assigned grade for loans
March 31, 2020	72,453
December 31, 2019	292,483
December 31, 2018	194,702
December 31, 2017	276,153
December 31, 2016	230,719
Prior	1,089,697
Revolving loans	0
Revolving loans converted to term loans	0
Total	2,156,207
Residential 1-4 family | 30-59 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	4
Prior	2,777
Revolving loans	0
Revolving loans converted to term loans	0
Total	2,781
Residential 1-4 family | 60-89 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	1,630
Revolving loans	0
Revolving loans converted to term loans	0
Total	1,630
Residential 1-4 family | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	353
December 31, 2016	0
Prior	923
Revolving loans	0
Revolving loans converted to term loans	0
Total	1,276
Home equity line of credit
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	1,064,131
Revolving loans converted to term loans	31,546
Total	1,095,677
Conversion of debt	1,800
Home equity line of credit | Current
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	1,062,097
Revolving loans converted to term loans	30,327
Total	1,092,424
Home equity line of credit | 30-59 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	633
Revolving loans converted to term loans	592
Total	1,225
Home equity line of credit | 60-89 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	26
Revolving loans converted to term loans	198
Total	224
Home equity line of credit | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	1,375
Revolving loans converted to term loans	429
Total	1,804
Residential land
Credit risk profile by internally assigned grade for loans
March 31, 2020	305
December 31, 2019	5,402
December 31, 2018	2,024
December 31, 2017	2,954
December 31, 2016	22
Prior	3,013
Revolving loans	0
Revolving loans converted to term loans	0
Total	13,720
Residential land | Current
Credit risk profile by internally assigned grade for loans
March 31, 2020	305
December 31, 2019	5,402
December 31, 2018	2,024
December 31, 2017	2,954
December 31, 2016	22
Prior	3,013
Revolving loans	0
Revolving loans converted to term loans	0
Total	13,720
Residential land | 30-59 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	0
Revolving loans converted to term loans	0
Total	0
Residential land | 60-89 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	0
Revolving loans converted to term loans	0
Total	0
Residential land | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	0
Revolving loans converted to term loans	0
Total	0
Residential construction
Credit risk profile by internally assigned grade for loans
March 31, 2020	1,069
December 31, 2019	5,410
December 31, 2018	682
December 31, 2017	2,029
December 31, 2016	0
Prior	0
Revolving loans	0
Revolving loans converted to term loans	0
Total	9,190
Residential construction | Current
Credit risk profile by internally assigned grade for loans
March 31, 2020	1,069
December 31, 2019	5,410
December 31, 2018	682
December 31, 2017	2,029
December 31, 2016	0
Prior	0
Revolving loans	0
Revolving loans converted to term loans	0
Total	9,190
Residential construction | 30-59 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	0
Revolving loans converted to term loans	0
Total	0
Residential construction | 60-89 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	0
Revolving loans converted to term loans	0
Total	0
Residential construction | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	0
Revolving loans converted to term loans	0
Total	0
Consumer
Credit risk profile by internally assigned grade for loans
March 31, 2020	23,454
December 31, 2019	101,328
December 31, 2018	66,634
December 31, 2017	20,392
December 31, 2016	3,297
Prior	601
Revolving loans	26,823
Revolving loans converted to term loans	3,224
Total	245,753
Conversion of debt	1,000
Consumer | Current
Credit risk profile by internally assigned grade for loans
March 31, 2020	23,191
December 31, 2019	98,543
December 31, 2018	62,983
December 31, 2017	19,183
December 31, 2016	3,099
Prior	600
Revolving loans	26,079
Revolving loans converted to term loans	3,001
Total	236,679
Consumer | 30-59 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	263
December 31, 2019	1,180
December 31, 2018	1,311
December 31, 2017	486
December 31, 2016	82
Prior	0
Revolving loans	258
Revolving loans converted to term loans	92
Total	3,672
Consumer | 60-89 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	843
December 31, 2018	1,225
December 31, 2017	337
December 31, 2016	43
Prior	0
Revolving loans	128
Revolving loans converted to term loans	40
Total	2,616
Consumer | Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	762
December 31, 2018	1,115
December 31, 2017	386
December 31, 2016	73
Prior	1
Revolving loans	358
Revolving loans converted to term loans	91
Total	2,786
Commercial real estate
Credit risk profile by internally assigned grade for loans
March 31, 2020	90,614
December 31, 2019	119,868
December 31, 2018	134,627
December 31, 2017	66,094
December 31, 2016	130,056
Prior	293,419
Revolving loans	17,442
Revolving loans converted to term loans	0
Total	852,120
Commercial real estate | Pass
Credit risk profile by internally assigned grade for loans
March 31, 2020	87,054
December 31, 2019	119,868
December 31, 2018	128,356
December 31, 2017	60,786
December 31, 2016	122,917
Prior	233,064
Revolving loans	17,442
Revolving loans converted to term loans	0
Total	769,487
Commercial real estate | Special Mention
Credit risk profile by internally assigned grade for loans
March 31, 2020	3,560
December 31, 2019	0
December 31, 2018	4,331
December 31, 2017	4,700
December 31, 2016	3,457
Prior	3,421
Revolving loans	0
Revolving loans converted to term loans	0
Total	19,469
Commercial real estate | Substandard
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	1,940
December 31, 2017	608
December 31, 2016	3,682
Prior	56,934
Revolving loans	0
Revolving loans converted to term loans	0
Total	63,164
Commercial real estate | Doubtful
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	0
Revolving loans converted to term loans	0
Total	0
Commercial construction
Credit risk profile by internally assigned grade for loans
March 31, 2020	3,139
December 31, 2019	6,889
December 31, 2018	25,925
December 31, 2017	17,771
December 31, 2016	2,068
Prior	2,289
Revolving loans	21,296
Revolving loans converted to term loans	0
Total	79,377
Commercial construction | Pass
Credit risk profile by internally assigned grade for loans
March 31, 2020	3,139
December 31, 2019	6,889
December 31, 2018	25,925
December 31, 2017	17,771
December 31, 2016	2,068
Prior	0
Revolving loans	21,296
Revolving loans converted to term loans	0
Total	77,088
Commercial construction | Special Mention
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	0
Revolving loans converted to term loans	0
Total	0
Commercial construction | Substandard
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	2,289
Revolving loans	0
Revolving loans converted to term loans	0
Total	2,289
Commercial construction | Doubtful
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	0
Revolving loans converted to term loans	0
Total	0
Commercial loans
Credit risk profile by internally assigned grade for loans
March 31, 2020	30,265
December 31, 2019	192,309
December 31, 2018	105,772
December 31, 2017	47,566
December 31, 2016	58,777
Prior	80,090
Revolving loans	189,090
Revolving loans converted to term loans	18,778
Total	722,647
Conversion of debt	2,000
Commercial loans | Pass
Credit risk profile by internally assigned grade for loans
March 31, 2020	29,594
December 31, 2019	180,576
December 31, 2018	103,190
December 31, 2017	40,697
December 31, 2016	35,704
Prior	66,885
Revolving loans	184,425
Revolving loans converted to term loans	17,315
Total	658,386
Commercial loans | Special Mention
Credit risk profile by internally assigned grade for loans
March 31, 2020	473
December 31, 2019	6,625
December 31, 2018	2,252
December 31, 2017	5,219
December 31, 2016	18,782
Prior	9,651
Revolving loans	2,261
Revolving loans converted to term loans	0
Total	45,263
Commercial loans | Substandard
Credit risk profile by internally assigned grade for loans
March 31, 2020	198
December 31, 2019	5,108
December 31, 2018	330
December 31, 2017	1,650
December 31, 2016	4,291
Prior	3,554
Revolving loans	2,404
Revolving loans converted to term loans	1,463
Total	18,998
Commercial loans | Doubtful
Credit risk profile by internally assigned grade for loans
March 31, 2020	0
December 31, 2019	0
December 31, 2018	0
December 31, 2017	0
December 31, 2016	0
Prior	0
Revolving loans	0
Revolving loans converted to term loans	0
Total	$ 0

Bank segment - Credit risk pr_2

Bank segment - Credit risk profile - payment activity (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Credit risk profile based on payment activity for loans
Financing receivable, past due	$ 24,635	$ 19,751
Financing receivable, current	5,155,743	5,100,913
Ending balance	5,180,378	5,120,664
Recorded Investment greater than 90 days and accruing	0	0
Revolving loans converted to term loans	53,548
Financial Asset, 30 to 59 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	11,390	8,864
Financial Asset, 60 to 89 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	4,781	3,858
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	8,464	7,029
Residential 1-4 family
Credit risk profile based on payment activity for loans
Financing receivable, past due	5,687	4,686
Financing receivable, current	2,156,207	2,173,449
Ending balance	2,161,894	2,178,135
Recorded Investment greater than 90 days and accruing	0	0
Revolving loans converted to term loans	0
Residential 1-4 family | Financial Asset, 30 to 59 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	2,781	2,588
Revolving loans converted to term loans	0
Residential 1-4 family | Financial Asset, 60 to 89 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	1,630	290
Revolving loans converted to term loans	0
Residential 1-4 family | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	1,276	1,808
Revolving loans converted to term loans	0
Commercial real estate
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	0
Financing receivable, current	852,120	824,830
Ending balance	852,120	824,830
Recorded Investment greater than 90 days and accruing	0	0
Revolving loans converted to term loans	0
Commercial real estate | Financial Asset, 30 to 59 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	0
Commercial real estate | Financial Asset, 60 to 89 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	0
Commercial real estate | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	0
Home equity line of credit
Credit risk profile based on payment activity for loans
Financing receivable, past due	3,253	2,930
Financing receivable, current	1,092,424	1,089,195
Ending balance	1,095,677	1,092,125
Recorded Investment greater than 90 days and accruing	0	0
Revolving loans converted to term loans	31,546
Home equity line of credit | Financial Asset, 30 to 59 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	1,225	813
Revolving loans converted to term loans	592
Home equity line of credit | Financial Asset, 60 to 89 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	224	0
Revolving loans converted to term loans	198
Home equity line of credit | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	1,804	2,117
Revolving loans converted to term loans	429
Residential land
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	25
Financing receivable, current	13,720	14,679
Ending balance	13,720	14,704
Recorded Investment greater than 90 days and accruing	0	0
Revolving loans converted to term loans	0
Residential land | Financial Asset, 30 to 59 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	0
Revolving loans converted to term loans	0
Residential land | Financial Asset, 60 to 89 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	0
Revolving loans converted to term loans	0
Residential land | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	25
Revolving loans converted to term loans	0
Commercial construction
Credit risk profile based on payment activity for loans
Financing receivable, past due	2,289	0
Financing receivable, current	77,088	70,605
Ending balance	79,377	70,605
Recorded Investment greater than 90 days and accruing	0	0
Revolving loans converted to term loans	0
Commercial construction | Financial Asset, 30 to 59 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	0
Commercial construction | Financial Asset, 60 to 89 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	0
Commercial construction | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	2,289	0
Residential construction
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	0
Financing receivable, current	9,190	11,670
Ending balance	9,190	11,670
Recorded Investment greater than 90 days and accruing	0	0
Revolving loans converted to term loans	0
Residential construction | Financial Asset, 30 to 59 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	0
Revolving loans converted to term loans	0
Residential construction | Financial Asset, 60 to 89 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	0
Revolving loans converted to term loans	0
Residential construction | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	0	0
Revolving loans converted to term loans	0
Commercial loans
Credit risk profile based on payment activity for loans
Financing receivable, past due	4,332	1,560
Financing receivable, current	718,315	669,114
Ending balance	722,647	670,674
Recorded Investment greater than 90 days and accruing	0	0
Revolving loans converted to term loans	18,778
Commercial loans | Financial Asset, 30 to 59 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	3,712	1,077
Commercial loans | Financial Asset, 60 to 89 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	311	311
Commercial loans | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	309	172
Consumer loans
Credit risk profile based on payment activity for loans
Financing receivable, past due	9,074	10,550
Financing receivable, current	236,679	247,371
Ending balance	245,753	257,921
Recorded Investment greater than 90 days and accruing	0	0
Consumer loans | Financial Asset, 30 to 59 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	3,672	4,386
Consumer loans | Financial Asset, 60 to 89 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	2,616	3,257
Consumer loans | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Credit risk profile based on payment activity for loans
Financing receivable, past due	$ 2,786	$ 2,907

Bank segment - Credit risk pr_3

Bank segment - Credit risk profile - nonaccrual loans (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Credit risk profile based on nonaccrual loans
Nonaccrual loans	$ 46,766	$ 29,736
Total troubled debt restructuring loans not included above	25,856	26,413
Residential 1-4 family
Credit risk profile based on nonaccrual loans
Nonaccrual loans	10,747	11,395
Total troubled debt restructuring loans not included above	9,254	9,869
Commercial real estate
Credit risk profile based on nonaccrual loans
Nonaccrual loans	16,390	195
Total troubled debt restructuring loans not included above	1,035	853
Nonaccrual loans with no related allowance	2,300
Home equity line of credit
Credit risk profile based on nonaccrual loans
Nonaccrual loans	6,596	6,638
Total troubled debt restructuring loans not included above	9,628	10,376
Nonaccrual loans with no related allowance	1,800
Residential land
Credit risk profile based on nonaccrual loans
Nonaccrual loans	413	448
Total troubled debt restructuring loans not included above	2,622	2,644
Nonaccrual loans with no related allowance	4,100
Commercial construction
Credit risk profile based on nonaccrual loans
Nonaccrual loans	2,289	0
Total troubled debt restructuring loans not included above	0	0
Residential construction
Credit risk profile based on nonaccrual loans
Nonaccrual loans	0	0
Total troubled debt restructuring loans not included above	0	0
Commercial loans
Credit risk profile based on nonaccrual loans
Nonaccrual loans	5,366	5,947
Total troubled debt restructuring loans not included above	3,261	2,614
Nonaccrual loans with no related allowance	5,100
Consumer loans
Credit risk profile based on nonaccrual loans
Nonaccrual loans	4,965	5,113
Total troubled debt restructuring loans not included above	$ 56	$ 57

Bank segment - Troubled debt re

Bank segment - Troubled debt restructuring - narrative (Details) - Troubled debt restructurings real estate loans - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Troubled debt restructurings
Financing receivable modifications minimum, period of payment default of loans determined to be TDRs (in days)	90 days
Commitments to lend additional funds to borrows with impaired or modified loans	$ 0	$ 0
Consumer mortgage loans collateralized by residential real estate property in foreclosure process	$ 3.7	$ 3.5

Bank segment - Loan modificatio

Bank segment - Loan modifications (Details) - Troubled debt restructurings real estate loans $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)contract	Mar. 31, 2019USD ($)contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	7	12
Outstanding recorded investment	$ 17,488	$ 1,842
Net increase in allowance	$ 4,567	$ 45
Residential 1-4 family
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	1	8
Outstanding recorded investment	$ 148	$ 1,048
Net increase in allowance	$ 8	$ 5
Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	2	0
Outstanding recorded investment	$ 16,584	$ 0
Net increase in allowance	$ 4,281	$ 0
Home equity line of credit
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	2
Outstanding recorded investment	$ 0	$ 264
Net increase in allowance	$ 0	$ 23
Residential land
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	1
Outstanding recorded investment	$ 0	$ 335
Net increase in allowance	$ 0	$ 0
Commercial construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	0
Outstanding recorded investment	$ 0	$ 0
Net increase in allowance	$ 0	$ 0
Residential construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	0
Outstanding recorded investment	$ 0	$ 0
Net increase in allowance	$ 0	$ 0
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	4	1
Outstanding recorded investment	$ 756	$ 195
Net increase in allowance	$ 278	$ 17
Consumer loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	0
Outstanding recorded investment	$ 0	$ 0
Net increase in allowance	$ 0	$ 0

Bank segment - Principal balanc

Bank segment - Principal balance of impaired loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2019
Recorded investment:
With no related allowance recorded		$ 14,037
With an allowance recorded		26,700
Recorded investment		40,737
Unpaid principal balance:
With no related allowance recorded		15,123
With an allowance recorded		26,762
Unpaid principal balance		41,885
Related Allowance		2,691
Average recorded investment:
With no related allowance recorded	$ 16,565
With an allowance recorded	25,959
Average recorded investment	42,524
Interest income recognized:
With no related allowance recorded	198
With an allowance recorded	250
Interest income recognized	448
Residential 1-4 family
Recorded investment:
With no related allowance recorded		6,817
With an allowance recorded		8,783
Recorded investment		15,600
Unpaid principal balance:
With no related allowance recorded		7,207
With an allowance recorded		8,835
Unpaid principal balance		16,042
Related Allowance		898
Average recorded investment:
With no related allowance recorded	7,991
With an allowance recorded	8,394
Average recorded investment	16,385
Interest income recognized:
With no related allowance recorded	160
With an allowance recorded	83
Interest income recognized	243
Commercial real estate
Recorded investment:
With no related allowance recorded		195
With an allowance recorded		853
Recorded investment		1,048
Unpaid principal balance:
With no related allowance recorded		200
With an allowance recorded		853
Unpaid principal balance		1,053
Related Allowance		2
Average recorded investment:
With no related allowance recorded	0
With an allowance recorded	906
Average recorded investment	906
Interest income recognized:
With no related allowance recorded	0
With an allowance recorded	10
Interest income recognized	10
Home equity line of credit
Recorded investment:
With no related allowance recorded		1,984
With an allowance recorded		10,089
Recorded investment		12,073
Unpaid principal balance:
With no related allowance recorded		2,135
With an allowance recorded		10,099
Unpaid principal balance		12,234
Related Allowance		322
Average recorded investment:
With no related allowance recorded	2,534
With an allowance recorded	11,823
Average recorded investment	14,357
Interest income recognized:
With no related allowance recorded	12
With an allowance recorded	130
Interest income recognized	142
Residential land
Recorded investment:
With no related allowance recorded		3,091
With an allowance recorded		0
Recorded investment		3,091
Unpaid principal balance:
With no related allowance recorded		3,294
With an allowance recorded		0
Unpaid principal balance		3,294
Related Allowance		0
Average recorded investment:
With no related allowance recorded	2,036
With an allowance recorded	29
Average recorded investment	2,065
Interest income recognized:
With no related allowance recorded	26
With an allowance recorded	0
Interest income recognized	26
Commercial construction
Recorded investment:
With no related allowance recorded		0
With an allowance recorded		0
Recorded investment		0
Unpaid principal balance:
With no related allowance recorded		0
With an allowance recorded		0
Unpaid principal balance		0
Related Allowance		0
Average recorded investment:
With no related allowance recorded	0
With an allowance recorded	0
Average recorded investment	0
Interest income recognized:
With no related allowance recorded	0
With an allowance recorded	0
Interest income recognized	0
Residential construction
Recorded investment:
With no related allowance recorded		0
With an allowance recorded		0
Recorded investment		0
Unpaid principal balance:
With no related allowance recorded		0
With an allowance recorded		0
Unpaid principal balance		0
Related Allowance		0
Average recorded investment:
With no related allowance recorded	0
With an allowance recorded	0
Average recorded investment	0
Interest income recognized:
With no related allowance recorded	0
With an allowance recorded	0
Interest income recognized	0
Commercial loans
Recorded investment:
With no related allowance recorded		1,948
With an allowance recorded		6,470
Recorded investment		8,418
Unpaid principal balance:
With no related allowance recorded		2,285
With an allowance recorded		6,470
Unpaid principal balance		8,755
Related Allowance		1,015
Average recorded investment:
With no related allowance recorded	3,973
With an allowance recorded	4,750
Average recorded investment	8,723
Interest income recognized:
With no related allowance recorded	0
With an allowance recorded	26
Interest income recognized	26
Consumer loans
Recorded investment:
With no related allowance recorded		2
With an allowance recorded		505
Recorded investment		507
Unpaid principal balance:
With no related allowance recorded		2
With an allowance recorded		505
Unpaid principal balance		507
Related Allowance		$ 454
Average recorded investment:
With no related allowance recorded	31
With an allowance recorded	57
Average recorded investment	88
Interest income recognized:
With no related allowance recorded	0
With an allowance recorded	1
Interest income recognized	$ 1

Bank segment - Loans modified w

Bank segment - Loans modified with payment default (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)contract	Mar. 31, 2019USD ($)contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	1
Recorded investment | $	$ 0	$ 19
Residential 1-4 family
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	0
Recorded investment | $	$ 0	$ 0
Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	0
Recorded investment | $	$ 0	$ 0
Home equity line of credit
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	0
Recorded investment | $	$ 0	$ 0
Residential land
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	0
Recorded investment | $	$ 0	$ 0
Commercial construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	0
Recorded investment | $	$ 0	$ 0
Residential construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	0
Recorded investment | $	$ 0	$ 0
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	1
Recorded investment | $	$ 0	$ 19
Consumer loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	0	0
Recorded investment | $	$ 0	$ 0

Bank segment - Collateral-depen

Bank segment - Collateral-dependent loans (Details) $ in Thousands	Mar. 31, 2020USD ($)
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	$ 5,180,378
Residential 1-4 family
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	2,161,894
Residential 1-4 family | Residential real estate property
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	2,315
Home equity line of credit
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	1,095,677
Home equity line of credit | Residential real estate property
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	1,567
Commercial real estate
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	852,120
Commercial real estate | Commercial real estate property
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	2,290
Total real estate
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	6,172
Commercial loans
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	722,647
Commercial loans | Business assets
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	90
Collateral Pledged
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	$ 6,262

Bank segment - Credit risk pr_4

Bank segment - Credit risk profile - assigned grades (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	$ 5,180,378	$ 5,120,664
Commercial Portfolio Segment
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		1,566,109
Commercial Portfolio Segment | Pass
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		1,446,720
Commercial Portfolio Segment | Special Mention
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		34,372
Commercial Portfolio Segment | Substandard
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		85,017
Commercial Portfolio Segment | Doubtful
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		0
Commercial Portfolio Segment | Loss
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		0
Commercial real estate
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	852,120	824,830
Commercial real estate | Pass
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		756,747
Commercial real estate | Special Mention
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		4,451
Commercial real estate | Substandard
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		63,632
Commercial real estate | Doubtful
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		0
Commercial real estate | Loss
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		0
Commercial construction
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	79,377	70,605
Commercial construction | Pass
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		68,316
Commercial construction | Special Mention
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		0
Commercial construction | Substandard
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		2,289
Commercial construction | Doubtful
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		0
Commercial construction | Loss
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		0
Commercial loans
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	$ 722,647	670,674
Commercial loans | Pass
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		621,657
Commercial loans | Special Mention
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		29,921
Commercial loans | Substandard
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		19,096
Commercial loans | Doubtful
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		0
Commercial loans | Loss
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross		$ 0

Bank segment - Mortgage servici

Bank segment - Mortgage servicing rights (Details) - American Savings Bank (ASB) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)
Servicing Asset at Amortized Cost [Line Items]
Repurchase reserve			$ 100		$ 100
Mortgage service fees	$ 800	$ 700
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Servicing asset - beginning balance	9,101
Servicing asset - ending balance	9,120
Residential loan
Servicing Asset at Amortized Cost [Line Items]
Proceeds from sale of mortgage loans	72,500	24,900
Gain on sale of mortgage loans	2,000	600
Servicing contracts
Servicing Asset at Amortized Cost [Line Items]
Gross carrying amount			22,178	$ 21,543
Accumulated amortization			13,058	(12,442)
Valuation allowance	0	0	0	0	0
Net carrying amount			9,120	9,101	$ 7,897
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Servicing asset - beginning balance	9,101	8,062
Amount capitalized	636	230
Amortization	(617)	(395)
Other-than-temporary impairment	0	0
Servicing asset - ending balance	9,120	7,897
Valuation Allowance [Roll Forward]
Valuation allowance, beginning balance	0	0
Provision (recovery)	0	0
Other-than-temporary impairment	0	0
Valuation allowance, ending balance	$ 0	$ 0
Unpaid principal balance			1,308,847	1,276,437
Prepayment rate:
25 basis points adverse rate change			(1,052)	(950)
50 basis points adverse rate change			(1,921)	(1,947)
Discount rate:
25 basis points adverse rate change			(71)	(102)
50 basis points adverse rate change			$ (140)	$ (202)
Servicing contracts | Note rate
Valuation Allowance [Roll Forward]
Weighted average measurement input			0.0394	0.0396
Servicing contracts | Discount rate
Valuation Allowance [Roll Forward]
Weighted average measurement input			0.093	0.093
Servicing contracts | Prepayment speed
Valuation Allowance [Roll Forward]
Weighted average measurement input			0.167	0.114

Bank segment - Other borrowings

Bank segment - Other borrowings (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Offsetting Liabilities [Line Items]
FHLB advances		$ 0
Federal funds purchased	$ 50,000,000	0
Gross amount of recognized liabilities	81,000,000	115,000,000
Gross amount offset in the Balance Sheets	0	0
Securities sold under agreements to repurchase	81,000,000	115,000,000
Commercial account holders
Offsetting Liabilities [Line Items]
Securities sold under agreements to repurchase	81,000,000	115,000,000
Securities sold under agreements to repurchase collateral, financial instruments	105,000,000	130,000,000
Securities sold under agreements to repurchase, cash collateral pledged	0	0
American Savings Bank (ASB)
Offsetting Liabilities [Line Items]
FHLB advances	27,000,000
Securities sold under agreements to repurchase	$ 80,600,000	$ 115,000,000

Bank segment - Derivatives (Det

Bank segment - Derivatives (Details) - Not designated as a hedging instrument - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Derivative instrument
Asset derivatives	$ 1,852		$ 300
Liability derivatives	585		45
Net gains (losses) recognized in the Statement of Income	1,012	$ 253
Interest rate lock commitments
Derivative instrument
Notional amount	63,662		23,171
Fair value	1,852		297
Asset derivatives	1,852		297
Liability derivatives	0		0
Interest rate lock commitments | Mortgage banking income
Derivative instrument
Net gains (losses) recognized in the Statement of Income	1,555	371
Forward commitments
Derivative instrument
Notional amount	50,800		29,383
Fair value	(585)		(42)
Asset derivatives	0		3
Liability derivatives	585		$ 45
Forward commitments | Mortgage banking income
Derivative instrument
Net gains (losses) recognized in the Statement of Income	$ (543)	$ (118)

Bank segment - Contingencies (D

Bank segment - Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
American Savings Bank (ASB)
Loss Contingencies [Line Items]
Unfunded commitments to fund the company's LIHTC	$ 22.3	$ 23.4

Credit agreements and changes i

Credit agreements and changes in debt - Narrative (Details)	Apr. 20, 2020USD ($)Institution	Mar. 31, 2020USD ($)Institution	Dec. 31, 2019USD ($)
Credit agreement
Number of financial institutions | Institution		8
Debt outstanding		$ 2,068,092,000	$ 1,964,365,000
Hawaiian Electric (parent only) | 364-Day Revolver | Subsequent Event | Revolving Credit Facility
Credit agreement
Number of financial institutions | Institution	4
Credit agreement	$ 75,000,000
Line of credit facility | HEI Facility
Credit agreement
Credit agreement		150,000,000
Debt outstanding		64,500,000	0
Line of credit facility | HEI Facility | Subsequent Event
Credit agreement
Increase in borrowing capacity	$ 65,000,000
Line of credit facility | Hawaiian Electric (parent only) | Hawaiian Electric Facility
Credit agreement
Credit agreement		200,000,000
Debt outstanding		$ 95,000,000	$ 0
Term Loan | Subsequent Event
Credit agreement
Number of financial institutions | Institution	2
Credit agreement	$ 65,000,000

Shareholders' equity - Accumula

Shareholders' equity - Accumulated other comprehensive income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	$ 2,280,260	$ 2,162,280
Current period other comprehensive income (loss)	18,212	9,241
Ending Balance	2,276,505	2,183,515
AOCI
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	(20,039)	(50,610)
Current period other comprehensive income (loss)	18,212	9,241
Ending Balance	(1,827)	(41,369)
Net unrealized gains (losses) on securities
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	2,481	(24,423)
Current period other comprehensive income (loss)	19,448	9,439
Ending Balance	21,929	(14,984)
Unrealized gains (losses) on derivatives
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	(1,613)	(436)
Current period other comprehensive income (loss)	(1,784)	(403)
Ending Balance	(3,397)	(839)
Retirement benefit plans
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	(20,907)	(25,751)
Current period other comprehensive income (loss)	548	205
Ending Balance	(20,359)	(25,546)
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	2,047,352	1,957,641
Current period other comprehensive income (loss)	26	24
Ending Balance	2,044,499	1,964,478
Hawaiian Electric Company, Inc. and Subsidiaries | AOCI
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	(1,279)	99
Current period other comprehensive income (loss)	26	24
Ending Balance	(1,253)	123
Hawaiian Electric Company, Inc. and Subsidiaries | Retirement benefit plans
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance	(1,279)	99
Current period other comprehensive income (loss)	26	24
Ending Balance	$ (1,253)	$ 123

Shareholders' equity - Reclassi

Shareholders' equity - Reclassification out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	$ 548	$ 205
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	26	24
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	5,706	2,503
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost | Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	5,184	2,322
Impact of D&Os of the PUC included in regulatory assets
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(5,158)	(2,298)
Impact of D&Os of the PUC included in regulatory assets | Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	$ (5,158)	$ (2,298)

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 618,605	$ 577,390
Total revenues	677,186	661,615
Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,556	11,233
Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	607,049	566,157
Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	190,266	175,745
Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	197,105	187,408
Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	216,220	198,926
Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,458	4,078
Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,556	11,233
Revenues from Other Sources
Disaggregation of Revenue [Line Items]
Total revenues	58,581	84,225
Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues	(15,304)	6,207
Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues	64,975	68,488
Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues	3,207	3,331
Other
Disaggregation of Revenue [Line Items]
Total revenues	5,703	6,199
Electric utility
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	607,049	566,157
Total revenues	597,442	578,495
Electric utility | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Electric utility | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	607,049	566,157
Electric utility | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	190,266	175,745
Electric utility | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	197,105	187,408
Electric utility | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	216,220	198,926
Electric utility | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,458	4,078
Electric utility | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Electric utility | Revenues from Other Sources
Disaggregation of Revenue [Line Items]
Total revenues	(9,607)	12,338
Electric utility | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues	(15,304)	6,207
Electric utility | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Electric utility | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Electric utility | Other
Disaggregation of Revenue [Line Items]
Total revenues	5,697	6,131
Bank
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,556	11,233
Total revenues	79,738	83,052
Bank | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,556	11,233
Bank | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Bank | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Bank | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Bank | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Bank | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Bank | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,556	11,233
Bank | Revenues from Other Sources
Disaggregation of Revenue [Line Items]
Total revenues	68,182	71,819
Bank | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Bank | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues	64,975	68,488
Bank | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues	3,207	3,331
Bank | Other
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Total revenues	6	68
Other | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Revenues from Other Sources
Disaggregation of Revenue [Line Items]
Total revenues	6	68
Other | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Other | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Other | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Other | Other
Disaggregation of Revenue [Line Items]
Total revenues	$ 6	$ 68

Retirement benefits (Details)

Retirement benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Defined benefit plans
Expected payments for remainder of fiscal year	$ 3,000		$ 2,000
Retirement benefits expense	$ 15,000	$ 15,000
Number of years for which regulatory asset/liability for each utility will be amortized, beginning with respective utility's next rate case (in years)	5 years
Defined contribution plan, expenses recognized	$ 1,800	1,900
Cash contributions by the employer to defined contribution plan	3,200	3,700
Hawaiian Electric Company, Inc. and Subsidiaries
Defined benefit plans
Expected payments for remainder of fiscal year	1,000		1,000
Retirement benefits expense	14,000	14,000
Defined contribution plan, expenses recognized	700	700
Cash contributions by the employer to defined contribution plan	700	700
Pension benefits
Defined benefit plans
Contributions made to defined benefit plans	17,000	8,000
Contributions expected to be paid in current year	69,000		49,000
Service cost	18,363	15,382
Interest cost	20,163	21,033
Expected return on plan assets	(28,466)	(27,998)
Amortization of net prior period (gain)/cost	3	(11)
Amortization of net actuarial (gains)/losses	8,057	3,839
Net periodic pension/benefit cost (return)	18,120	12,245
Impact of PUC D&Os	6,262	12,279
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	24,382	24,524
Pension benefits | American Savings Bank (ASB)
Defined benefit plans
Contributions expected to be paid in current year	0		0
Pension benefits | Hawaiian Electric Industries, Inc.
Defined benefit plans
Contributions expected to be paid in current year	1,000		1,000
Pension benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined benefit plans
Contributions made to defined benefit plans	17,000	8,000
Contributions expected to be paid in current year	68,000		$ 48,000
Service cost	17,891	15,001
Interest cost	18,715	19,414
Expected return on plan assets	(26,855)	(26,164)
Amortization of net prior period (gain)/cost	2	2
Amortization of net actuarial (gains)/losses	7,368	3,576
Net periodic pension/benefit cost (return)	17,121	11,829
Impact of PUC D&Os	6,262	12,279
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	23,383	24,108
Other benefits
Defined benefit plans
Service cost	631	541
Interest cost	1,855	1,997
Expected return on plan assets	(3,038)	(3,086)
Amortization of net prior period (gain)/cost	(440)	(452)
Amortization of net actuarial (gains)/losses	50	(3)
Net periodic pension/benefit cost (return)	(942)	(1,003)
Impact of PUC D&Os	777	811
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	(165)	(192)
Other benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined benefit plans
Service cost	626	537
Interest cost	1,782	1,917
Expected return on plan assets	(2,990)	(3,035)
Amortization of net prior period (gain)/cost	(440)	(451)
Amortization of net actuarial (gains)/losses	51	0
Net periodic pension/benefit cost (return)	(971)	(1,032)
Impact of PUC D&Os	777	811
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	$ (194)	$ (221)

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($) $ in Millions	Mar. 01, 2014	Jun. 30, 2019	Mar. 31, 2020	Mar. 31, 2019
Share-based compensation
Income tax benefit from compensation expense			$ 0.3	$ 0.3
Restricted stock units
Share-based compensation
Fair value of vested stock			4.2	3.2
Income tax benefit from compensation expense			0.7	$ 0.5
Unrecognized share based compensation			$ 7.7
Weighted average period for recognition of unrecognized compensation cost (in years)			3 years 1 month 6 days
Long-term Incentive Plan
Share-based compensation
Payment award, low end of range			0.00%
Payment award, high end of range			200.00%
Measurement period for total return to shareholders (in years)			3 years
Award performance period (in years)			3 years
LTIP linked to TRS
Share-based compensation
Fair value of vested stock			$ 2.6
Income tax benefit from compensation expense			0.4
Unrecognized share based compensation			$ 2.2
Weighted average period for recognition of unrecognized compensation cost (in years)			1 year 8 months 12 days
LTIP awards linked to other performance conditions
Share-based compensation
Fair value of vested stock			$ 7.6
Income tax benefit from compensation expense			1.2
Unrecognized share based compensation			$ 8.1
Weighted average period for recognition of unrecognized compensation cost (in years)			1 year 8 months 12 days
Equity and Incentive Plan
Share-based compensation
Number of additional shares authorized (in shares)	1,500,000
Shares available for future issuance (in shares)			3,000,000
Number of share issuable upon vesting and achievement of performance goals (in shares)			700,000
Nonemployee Director Stock Plan
Share-based compensation
Number of additional shares authorized (in shares)		300,000
Shares available for future grant (in shares)			309,795

Share-based compensation - Summ

Share-based compensation - Summary of income taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based compensation
Share-based compensation expense	$ 1.7	$ 2.2
Income tax benefit	0.3	0.3
Hawaiian Electric Company, Inc. and Subsidiaries
Share-based compensation
Share-based compensation expense	0.8	0.8
Income tax benefit	$ 0.1	$ 0.1

Share-based compensation - 2011

Share-based compensation - 2011 Director Plan (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based compensation
Income tax benefit	$ 300	$ 300
Common stock
Share-based compensation
Shares granted (in shares)	468	0
Fair value	$ 23	$ 0
Income tax benefit	$ 6	$ 0

Share-based compensation - Su_2

Share-based compensation - Summary of changes in share based compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restricted stock units
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	207,641	200,358
Granted (in shares)	77,679	94,559
Vested (in shares)	(77,719)	(76,712)
Forfeited (in shares)	(4,160)	(6,980)
Outstanding, end of period (in shares)	203,441	211,225
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 35.36	$ 33.05
Granted (in dollars per share)	48.11	37.68
Vested (in dollars per share)	34.19	32.61
Forfeited (in dollars per share)	35.81	33.18
Outstanding, end of period (in dollars per share)	$ 40.67	$ 35.28
Total weighted-average grant-date fair value	$ 3.7	$ 3.6
LTIP linked to TRS
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	96,402	65,578
Granted (in shares)	24,630	34,647
Vested (in shares)	(29,409)	0
Forfeited (in shares)	(1,007)	(1,914)
Outstanding, end of period (in shares)	90,616	98,311
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 39.62	$ 38.81
Granted (in dollars per share)	48.62	41.07
Vested (in dollars per share)	39.51	0
Forfeited (in dollars per share)	41.72	38.62
Outstanding, end of period (in dollars per share)	$ 42.08	$ 39.61
Total weighted-average grant-date fair value	$ 1.2	$ 1.4
LTIP awards linked to other performance conditions
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	403,768	276,169
Granted (in shares)	98,522	138,580
Vested (in shares)	(135,804)	0
Increase above target (in shares)	(26,111)	0
Forfeited (in shares)	(4,031)	(7,659)
Outstanding, end of period (in shares)	336,344	407,090
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 35.15	$ 33.80
Granted (in dollars per share)	48.10	37.68
Vested (in dollars per share)	33.48	0
Increase above target (in dollars per share)	34.13	0
Forfeited (in dollars per share)	39.67	33.91
Outstanding, end of period (in dollars per share)	$ 39.64	$ 35.12
Total weighted-average grant-date fair value	$ 4.7	$ 5.2

Share-based compensation - Fair

Share-based compensation - Fair value assumptions (Details) - LTIP linked to TRS - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk-free interest rate	1.39%	2.48%
Expected life (in years)	3 years	3 years
Expected volatility	13.10%	15.80%
Range of expected volatility for Peer Group, minimum rate	13.60%	15.00%
Range of expected volatility for Peer Group, maximum rate	95.40%	73.20%
Grant date fair value (in dollars per share)	$ 48.62	$ 41.07

Income taxes (Details)

Income taxes (Details)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2018
Income Tax Contingency [Line Items]
Effective income tax, percent	15.00%	20.00%
Federal income tax rate	21.00%		35.00%
Hawaiian Electric Company, Inc. and Subsidiaries
Income Tax Contingency [Line Items]
Effective income tax, percent	18.00%	22.00%

Cash flows (Details)

Cash flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	$ 18	$ 21
Income taxes paid (including refundable credits)	0	4
Income taxes refunded (including refundable credits)	0	4
Supplemental disclosures of noncash activities
Reduction of long-term debt from funds previously transferred for repayment (financing)	82	0
Right-of-use assets obtained in exchange for operating lease obligations (investing)	19	0
Common stock issued (gross) for director and executive/management compensation (financing)	14	3
Real estate transferred from property, plant and equipment to other assets held-for-sale (investing)	0	9
Property, plant and equipment-unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	32	36
Hawaiian Electric Company, Inc. and Subsidiaries
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	9	12
Income taxes paid (including refundable credits)	0	5
Income taxes refunded (including refundable credits)	0	4
Supplemental disclosures of noncash activities
Reduction of long-term debt from funds previously transferred for repayment (financing)	82	0
Right-of-use assets obtained in exchange for operating lease obligations (investing)	16	0
Property, plant and equipment-unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	$ 27	$ 29

Fair value measurements - Summa

Fair value measurements - Summary of financial assets and liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financial assets
Available-for-sale investment securities	$ 1,340,241	$ 1,232,826
Held-to-maturity investment securities	142,570	143,467
Financial liabilities
Short-term borrowings—other than bank	99,956	185,710
Other bank borrowings	157,605	115,110
Carrying or notional amount
Financial assets
Available-for-sale investment securities	1,340,241	1,232,826
Held-to-maturity investment securities	134,656	139,451
Stock in Federal Home Loan Bank	9,760	8,434
Loans, net	5,122,003	5,080,107
Mortgage-servicing rights	9,120	9,101
Derivative assets	63,662	25,179
Financial liabilities
Deposit liabilities	791,665	769,825
Short-term borrowings—other than bank	99,956	185,710
Other bank borrowings	157,605	115,110
Long-term debt, net	2,068,092	1,964,365
Derivative liabilities	74,800	51,375
Carrying or notional amount | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,510,635	1,497,667
Short-term borrowings	99,956	88,987
Estimated fair value
Financial assets
Available-for-sale investment securities	1,340,241	1,232,826
Held-to-maturity investment securities	142,570	143,467
Stock in Federal Home Loan Bank	9,760	8,434
Loans, net	5,306,098	5,157,537
Mortgage-servicing rights	10,350	12,379
Derivative assets	1,852	300
Financial liabilities
Deposit liabilities	797,075	765,976
Short-term borrowings—other than bank	99,956	185,710
Other bank borrowings	157,606	115,107
Long-term debt, net	2,226,265	2,156,927
Derivative liabilities	5,160	2,218
Estimated fair value | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,655,449	1,670,189
Short-term borrowings	99,956	88,987
Estimated fair value | Level 1
Financial assets
Available-for-sale investment securities	0	0
Held-to-maturity investment securities	0	0
Stock in Federal Home Loan Bank	0	0
Loans, net	0	0
Mortgage-servicing rights	0	0
Derivative assets	0	0
Financial liabilities
Deposit liabilities	0	0
Short-term borrowings—other than bank	0	0
Other bank borrowings	0	0
Long-term debt, net	0	0
Derivative liabilities	585	33
Estimated fair value | Level 1 | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	0	0
Short-term borrowings	0	0
Estimated fair value | Level 2
Financial assets
Available-for-sale investment securities	1,311,515	1,204,229
Held-to-maturity investment securities	142,570	143,467
Stock in Federal Home Loan Bank	9,760	8,434
Loans, net	18,155	12,295
Mortgage-servicing rights	0	0
Derivative assets	1,852	300
Financial liabilities
Deposit liabilities	797,075	765,976
Short-term borrowings—other than bank	99,956	185,710
Other bank borrowings	157,606	115,107
Long-term debt, net	2,226,265	2,156,927
Derivative liabilities	4,575	2,185
Estimated fair value | Level 2 | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,655,449	1,670,189
Short-term borrowings	99,956	88,987
Estimated fair value | Level 3
Financial assets
Available-for-sale investment securities	28,726	28,597
Held-to-maturity investment securities	0	0
Stock in Federal Home Loan Bank	0	0
Loans, net	5,287,943	5,145,242
Mortgage-servicing rights	10,350	12,379
Derivative assets	0	0
Financial liabilities
Deposit liabilities	0	0
Short-term borrowings—other than bank	0	0
Other bank borrowings	0	0
Long-term debt, net	0	0
Derivative liabilities	0	0
Estimated fair value | Level 3 | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	0	0
Short-term borrowings	$ 0	$ 0

Fair value measurements - Asset

Fair value measurements - Assets and liabilities measured on a recurring basis (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivative assets
Available-for-sale investment securities	$ 1,340,241	$ 1,232,826
Corporate bonds
Derivative assets
Available-for-sale investment securities	59,770	60,057
Mortgage revenue bonds
Derivative assets
Available-for-sale investment securities	28,726	28,597
Fair value measurements on a recurring basis | Level 1
Derivative liabilities
Derivative liabilities	585	33
Fair value measurements on a recurring basis | Level 1 | Bank
Derivative assets
Available-for-sale investment securities	0	0
Derivative assets	0	0
Fair value measurements on a recurring basis | Level 1 | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Fair value measurements on a recurring basis | Level 1 | Bank | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	585	33
Fair value measurements on a recurring basis | Level 1 | Other | Interest rate swap
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 1 | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | U.S. Treasury and federal agency obligations | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | Corporate bonds | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | Mortgage revenue bonds | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 2
Derivative liabilities
Derivative liabilities	4,575	2,185
Fair value measurements on a recurring basis | Level 2 | Bank
Derivative assets
Available-for-sale investment securities	1,311,515	1,204,229
Derivative assets	1,852	300
Fair value measurements on a recurring basis | Level 2 | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	1,852	297
Fair value measurements on a recurring basis | Level 2 | Bank | Forward commitments
Derivative assets
Derivative assets	0	3
Derivative liabilities
Derivative liabilities	0	12
Fair value measurements on a recurring basis | Level 2 | Other | Interest rate swap
Derivative liabilities
Derivative liabilities	4,575	2,173
Fair value measurements on a recurring basis | Level 2 | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Derivative assets
Available-for-sale investment securities	1,141,452	1,026,385
Fair value measurements on a recurring basis | Level 2 | U.S. Treasury and federal agency obligations | Bank
Derivative assets
Available-for-sale investment securities	110,293	117,787
Fair value measurements on a recurring basis | Level 2 | Corporate bonds | Bank
Derivative assets
Available-for-sale investment securities	59,770	60,057
Fair value measurements on a recurring basis | Level 2 | Mortgage revenue bonds | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 3
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Bank
Derivative assets
Available-for-sale investment securities	28,726	28,597
Derivative assets	0	0
Fair value measurements on a recurring basis | Level 3 | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Fair value measurements on a recurring basis | Level 3 | Bank | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Other | Interest rate swap
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 3 | U.S. Treasury and federal agency obligations | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 3 | Corporate bonds | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 3 | Mortgage revenue bonds | Bank
Derivative assets
Available-for-sale investment securities	$ 28,726	$ 28,597

Fair value measurements - Addit

Fair value measurements - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)instrument	Mar. 31, 2019USD ($)
Measurement Input, Credit Spread
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Weighted average discount rate	0.0299
Mortgage revenue bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 28,597	$ 23,636
Principal payments received	0	0
Purchases	129	4,334
Unrealized gain (loss) included in other comprehensive income	0	0
Ending balance	$ 28,726	$ 27,970
Mortgage revenue bonds | Bank
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Number of financial instruments held | instrument	2

Fair value measurements - Ass_2

Fair value measurements - Assets Measured on a Nonrecurring Basis (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Estimated fair value
Fair value measurements on a recurring basis
Loans, net	$ 5,306,098,000	$ 5,157,537,000
Estimated fair value | Level 1
Fair value measurements on a recurring basis
Loans, net	0	0
Estimated fair value | Level 2
Fair value measurements on a recurring basis
Loans, net	18,155,000	12,295,000
Estimated fair value | Level 3
Fair value measurements on a recurring basis
Loans, net	5,287,943,000	5,145,242,000
Fair value measurements on a nonrecurring basis | American Savings Bank (ASB)
Fair value measurements on a recurring basis
Adjustments to fair value of loans held for sale	0		$ 0
Fair value measurements on a nonrecurring basis | Level 1
Fair value measurements on a recurring basis
Loans, net	0	0
Fair value measurements on a nonrecurring basis | Level 2
Fair value measurements on a recurring basis
Loans, net	0	0
Fair value measurements on a nonrecurring basis | Level 3
Fair value measurements on a recurring basis
Loans, net	0	25,000
Fair value measurements on a nonrecurring basis | Estimated fair value
Fair value measurements on a recurring basis
Loans, net	$ 0	$ 25,000

Fair value measurements - Sum_2

Fair value measurements - Summary of Level 3 financial instruments (Details) - Level 3 $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Fair value measurements
Fair value	$ 25
Residential land
Fair value measurements
Fair value	$ 25
Residential loan | Fair Value of Property or Collateral [Member]
Fair value measurements
Appraised value, selling cost	7.00%