Hawaiian Electric Industries (HE) 10-Q 7 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Oct. 25, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity Registrant Name	HAWAIIAN ELECTRIC INDUSTRIES, INC.
Entity File Number	1-8503
Entity Tax Identification Number	99-0208097
Entity Incorporation, State or Country Code	HI
Entity Address, Address Line One	1001 Bishop Street
Entity Address, Address Line Two	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 12(b) Security	Common Stock, Without Par Value
Trading Symbol(s)	HE
Name of each exchange on which registered	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		109,470,439
Entity Central Index Key	0000354707
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Hawaiian Electric Company, Inc. and Subsidiaries
Entity Information [Line Items]
Document Type	10-Q
Entity Registrant Name	HAWAIIAN ELECTRIC COMPANY, INC.
Entity File Number	1-4955
Entity Tax Identification Number	99-0040500
Entity Incorporation, State or Country Code	HI
Entity Address, Address Line One	1099 Alakea Street
Entity Address, Address Line Two	Suite 2200
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		17,753,533
Entity Central Index Key	0000046207
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Hawaiian Electric Company, Inc. and Subsidiaries | Former Address
Entity Information [Line Items]
Entity Address, Address Line One	1001 Bishop Street
Entity Address, Address Line Two	Suite 2500
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Revenues	$ 1,042,197	$ 756,904	$ 2,722,872	$ 2,080,107
Expenses
Total expenses	940,082	659,588	2,434,813	1,782,904
Operating income (loss)
Total operating income	102,115	97,316	288,059	297,203
Retirement defined benefits credit—other than service costs	1,039	1,058	3,528	4,709
Interest expense, net—other than on deposit liabilities and other bank borrowings	(26,626)	(23,477)	(75,940)	(70,530)
Allowance for borrowed funds used during construction	825	827	2,401	2,386
Allowance for equity funds used during construction	2,552	2,427	7,431	6,995
Gain on sales of investment securities, net and equity-method investment	0	0	8,123	528
Income before income taxes	79,905	78,151	233,602	241,291
Income taxes	17,352	14,265	48,395	48,229
Net income attributable to Hawaiian Electric	62,553	63,886	185,207	193,062
Preferred stock dividends of subsidiaries	471	471	1,417	1,417
Net income for common stock	$ 62,082	$ 63,415	$ 183,790	$ 191,645
Basic earnings per common share (in dollars per share)	$ 0.57	$ 0.58	$ 1.68	$ 1.75
Diluted earnings per common share (in dollars per share)	$ 0.57	$ 0.58	$ 1.68	$ 1.75
Weighted-average number of common shares outstanding (in shares)	109,470	109,311	109,421	109,272
Net effect of potentially dilutive shares (in shares)	235	264	291	316
Weighted-average shares assuming dilution (in shares)	109,705	109,575	109,712	109,588
Electric utility
Revenues
Revenues	$ 955,971	$ 679,499	$ 2,483,636	$ 1,846,242
Expenses
Total expenses	876,922	604,307	2,259,838	1,634,252
Operating income (loss)
Total operating income	79,049	75,192	223,798	211,990
Income before income taxes	63,712	61,175	179,771	170,163
Income taxes	13,450	10,335	37,967	33,066
Net income attributable to Hawaiian Electric	50,262	50,840	141,804	137,097
Preferred stock dividends of subsidiaries	498	498	1,496	1,496
Net income for common stock	49,764	50,342	140,308	135,601
Bank
Revenues
Revenues	81,411	76,208	231,850	230,599
Expenses
Total expenses	54,311	51,151	152,797	130,440
Operating income (loss)
Total operating income	27,100	25,057	79,053	100,159
Income before income taxes	27,281	25,241	79,605	102,335
Income taxes	6,525	5,976	17,513	23,230
Net income attributable to Hawaiian Electric	20,756	19,265	62,092	79,105
Preferred stock dividends of subsidiaries	0	0	0	0
Net income for common stock	20,756	19,265	62,092	79,105
Other
Revenues
Revenues	4,815	1,197	7,386	3,266
Expenses
Total expenses	8,849	4,130	22,178	18,212
Operating income (loss)
Total operating income	(4,034)	(2,933)	(14,792)	(14,946)
Income before income taxes	(11,088)	(8,265)	(25,774)	(31,207)
Income taxes	(2,623)	(2,046)	(7,085)	(8,067)
Net income attributable to Hawaiian Electric	(8,465)	(6,219)	(18,689)	(23,140)
Preferred stock dividends of subsidiaries	(27)	(27)	(79)	(79)
Net income for common stock	$ (8,438)	$ (6,192)	$ (18,610)	$ (23,061)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income for common stock	$ 62,082	$ 63,415	$ 183,790	$ 191,645
Net unrealized losses on available-for-sale investment securities:
Net unrealized losses on available-for-sale investment securities arising during the period, net of taxes of $(36,230), $(4,212), $(112,838) and $(14,614), respectively	(98,965)	(11,507)	(308,229)	(39,921)
Reclassification adjustment for net realized gains included in net income, net of taxes of nil, nil, nil and $(142), respectively	0	0	0	(387)
Derivatives qualifying as cash flow hedges:
Unrealized interest rate hedging gains arising during the period, net of taxes of $901, $48, $2,220 and $347, respectively	2,597	139	6,400	1,000
Reclassification adjustment for net realized losses included in net income, net of taxes of $19, $3, $56 and $3, respectively	53	9	161	9
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes of $1,943, $985, $3,549 and $5,155, respectively	5,606	2,853	10,229	14,871
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $(1,839), $(971), $(3,320) and $(5,002), respectively	(5,303)	(2,799)	(9,572)	(14,421)
Other comprehensive loss, net of taxes	(96,012)	(11,305)	(301,011)	(38,849)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ (33,930)	$ 52,110	$ (117,221)	$ 152,796

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net unrealized losses on available-for-sale investment securities:
Net unrealized gains (losses) on available-for-sale investment securities arising during the period, tax	$ (36,230)	$ (4,212)	$ (112,838)	$ (14,614)
Reclassification adjustment for net realized gains included in net income, tax	0	0	0	(142)
Derivatives qualifying as cash flow hedges:
Unrealized interest rate hedging arising during the period, tax	901	48	2,220	347
Reclassification adjustment for net unrealized losses included in net income, tax	19	3	56	3
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	1,943	985	3,549	5,155
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	$ (1,839)	$ (971)	$ (3,320)	$ (5,002)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 175,280	$ 305,551
Restricted cash	3,898	5,911
Accounts receivable and unbilled revenues, net	519,774	344,213
Available-for-sale investment securities, at fair value	2,232,336	2,574,618
Held-to-maturity investment securities, at amortized cost	510,879	522,270
Stock in Federal Home Loan Bank, at cost	15,000	10,000
Loans held for investment, net	5,616,984	5,139,984
Loans held for sale, at lower of cost or fair value	3,101	10,404
Property, plant and equipment, net of accumulated depreciation	5,599,937	5,392,068
Operating lease right-of-use assets	121,302	122,416
Regulatory assets	497,188	565,543
Other	886,999	747,469
Goodwill	82,190	82,190
Total assets	16,264,868	15,822,637
Liabilities
Accounts payable	213,587	205,544
Interest and dividends payable	36,158	19,889
Deposit liabilities	8,258,885	8,172,212
Short-term borrowings—other than bank	171,125	53,998
Other bank borrowings	409,040	88,305
Long-term debt, net—other than bank	2,430,326	2,321,937
Deferred income taxes	263,929	384,760
Operating lease liabilities	130,914	136,760
Finance lease liabilities	49,202	0
Regulatory liabilities	1,030,376	996,768
Defined benefit pension and other postretirement benefit plans liability	333,664	348,072
Other	740,447	669,215
Total liabilities	14,067,653	13,397,460
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293	34,293
Commitments and contingencies (Notes 3 and 4)
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: 109,470,325 shares and 109,311,785 shares at September 30, 2022 and December 31, 2021, respectively	1,689,672	1,685,496
Retained earnings	826,794	757,921
Accumulated other comprehensive loss, net of tax benefits	(353,544)	(52,533)
Total shareholders’ equity	2,162,922	2,390,884
Total liabilities and shareholders’ equity	$ 16,264,868	$ 15,822,637

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets
Property, plant and equipment, accumulated depreciation	$ 3,168,879	$ 3,028,130
Shareholders’ equity
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, shares issued (in shares)	109,470,325	109,311,785
Common stock, shares outstanding (in shares)	109,470,325	109,311,785

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common stock	Retained earnings	Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Dec. 31, 2020		109,181,000
Beginning balance at Dec. 31, 2020	$ 2,337,502	$ 1,678,368	$ 660,398	$ (1,264)
Increase (decrease) in stockholders' equity
Net income for common stock	64,358		64,358
Other comprehensive (loss) income, net of tax benefits	(44,016)			(44,016)
Share-based expenses and other, net (in shares)		100,000
Share-based expenses and other, net	605	$ 605
Common stock dividends	(37,156)		(37,156)
Ending balance (in shares) at Mar. 31, 2021		109,281,000
Ending balance at Mar. 31, 2021	2,321,293	$ 1,678,973	687,600	(45,280)
Beginning balance (in shares) at Dec. 31, 2020		109,181,000
Beginning balance at Dec. 31, 2020	2,337,502	$ 1,678,368	660,398	(1,264)
Increase (decrease) in stockholders' equity
Net income for common stock	191,645
Other comprehensive (loss) income, net of tax benefits	(38,849)
Ending balance (in shares) at Sep. 30, 2021		109,311,000
Ending balance at Sep. 30, 2021	2,383,543	$ 1,683,090	740,566	(40,113)
Beginning balance (in shares) at Mar. 31, 2021		109,281,000
Beginning balance at Mar. 31, 2021	2,321,293	$ 1,678,973	687,600	(45,280)
Increase (decrease) in stockholders' equity
Net income for common stock	63,872		63,872
Other comprehensive (loss) income, net of tax benefits	16,472			16,472
Share-based expenses and other, net (in shares)		30,000
Share-based expenses and other, net	2,847	$ 2,847
Common stock dividends	(37,155)		(37,155)
Ending balance (in shares) at Jun. 30, 2021		109,311,000
Ending balance at Jun. 30, 2021	2,367,329	$ 1,681,820	714,317	(28,808)
Increase (decrease) in stockholders' equity
Net income for common stock	63,415		63,415
Other comprehensive (loss) income, net of tax benefits	(11,305)			(11,305)
Share-based expenses and other, net	1,270	$ 1,270
Common stock dividends	(37,166)		(37,166)
Ending balance (in shares) at Sep. 30, 2021		109,311,000
Ending balance at Sep. 30, 2021	$ 2,383,543	$ 1,683,090	740,566	(40,113)
Beginning balance (in shares) at Dec. 31, 2021	109,311,785	109,312,000
Beginning balance at Dec. 31, 2021	$ 2,390,884	$ 1,685,496	757,921	(52,533)
Increase (decrease) in stockholders' equity
Net income for common stock	69,167		69,167
Other comprehensive (loss) income, net of tax benefits	(117,159)			(117,159)
Share-based expenses and other, net (in shares)		119,000
Share-based expenses and other, net	(949)	$ (949)
Common stock dividends	(38,301)		(38,301)
Ending balance (in shares) at Mar. 31, 2022		109,431,000
Ending balance at Mar. 31, 2022	$ 2,303,642	$ 1,684,547	788,787	(169,692)
Beginning balance (in shares) at Dec. 31, 2021	109,311,785	109,312,000
Beginning balance at Dec. 31, 2021	$ 2,390,884	$ 1,685,496	757,921	(52,533)
Increase (decrease) in stockholders' equity
Net income for common stock	183,790
Other comprehensive (loss) income, net of tax benefits	$ (301,011)
Ending balance (in shares) at Sep. 30, 2022	109,470,325	109,470,000
Ending balance at Sep. 30, 2022	$ 2,162,922	$ 1,689,672	826,794	(353,544)
Beginning balance (in shares) at Mar. 31, 2022		109,431,000
Beginning balance at Mar. 31, 2022	2,303,642	$ 1,684,547	788,787	(169,692)
Increase (decrease) in stockholders' equity
Net income for common stock	52,541		52,541
Other comprehensive (loss) income, net of tax benefits	(87,840)			(87,840)
Share-based expenses and other, net (in shares)		36,000
Share-based expenses and other, net	3,462	$ 3,462
Common stock dividends	(38,301)		(38,301)
Ending balance (in shares) at Jun. 30, 2022		109,467,000
Ending balance at Jun. 30, 2022	2,233,504	$ 1,688,009	803,027	(257,532)
Increase (decrease) in stockholders' equity
Net income for common stock	62,082		62,082
Other comprehensive (loss) income, net of tax benefits	(96,012)			(96,012)
Share-based expenses and other, net (in shares)		3,000
Share-based expenses and other, net	1,663	$ 1,663
Common stock dividends	$ (38,315)		(38,315)
Ending balance (in shares) at Sep. 30, 2022	109,470,325	109,470,000
Ending balance at Sep. 30, 2022	$ 2,162,922	$ 1,689,672	$ 826,794	$ (353,544)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0.35	$ 0.35	$ 0.35	$ 0.34	$ 0.34	$ 0.34

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities
Net income	$ 185,207	$ 193,062
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	190,075	184,389
Other amortization	28,916	24,511
Provision for credit losses	(692)	(22,367)
Loans originated, held for sale	(120,195)	(281,744)
Proceeds from sale of loans, held for sale	126,357	304,820
Gain on sales of investment securities, net and equity-method investment	(8,123)	(528)
Gain on sale of loans, net	(1,630)	(7,497)
Deferred income taxes	(21,631)	(13,473)
Share-based compensation expense	7,337	6,727
Allowance for equity funds used during construction	(7,431)	(6,995)
Other	(5,392)	(7,046)
Changes in assets and liabilities
Increase in accounts receivable and unbilled revenues, net	(159,619)	(58,758)
Increase in fuel oil stock	(127,413)	(42,612)
Decrease (increase) in regulatory assets	34,278	(4,952)
Increase in regulatory liabilities	29,294	8,806
Increase in accounts, interest and dividends payable	39,009	36,850
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	73,279	11,133
Decrease in defined benefit pension and other postretirement benefit plans liability	(4,228)	(5,288)
Change in other assets and liabilities	(44,411)	(51,833)
Net cash provided by operating activities	212,987	267,205
Cash flows from investing activities
Available-for-sale investment securities purchased	(366,177)	(1,318,520)
Principal repayments on available-for-sale investment securities	285,519	449,459
Proceeds from sale of available-for-sale investment securities	0	197,354
Purchases of held-to-maturity investment securities	0	(314,327)
Proceeds from repayments or maturities of held-to-maturity investment securities	10,433	49,074
Purchase of stock from Federal Home Loan Bank	(93,000)	(32,980)
Redemption of stock from Federal Home Loan Bank	88,000	31,660
Net decrease (increase) in loans held for investment	(395,185)	157,619
Proceeds from sale of residential loans	0	17,398
Purchase of loans held for investment	(77,274)	0
Capital expenditures	(236,278)	(219,252)
Contributions to low income housing investments	(740)	(12,402)
Acquisition of business	(25,706)	0
Other	15,646	10,078
Net cash used in investing activities	(794,762)	(984,839)
Cash flows from financing activities
Net increase in deposit liabilities	86,673	589,581
Net increase in short-term borrowings with original maturities of three months or less	117,127	27,755
Net increase in other bank borrowings with original maturities of three months or less	320,735	39,635
Repayment of short-term debt	0	(65,000)
Proceeds from issuance of long-term debt	67,312	206,988
Repayment of long-term debt	(16,752)	(80,607)
Withheld shares for employee taxes on vested share-based compensation	(3,158)	(2,006)
Common stock dividends	(114,917)	(111,477)
Preferred stock dividends of subsidiaries	(1,417)	(1,417)
Other	(6,112)	(7,462)
Net cash provided by financing activities	449,491	595,990
Net decrease in cash, cash equivalents and restricted cash	(132,284)	(121,644)
Cash, cash equivalents and restricted cash, beginning of period	311,462	358,979
Cash, cash equivalents and restricted cash, end of period	179,178	237,335
Less: Restricted cash	(3,898)	(9,412)
Cash and cash equivalents, end of period	$ 175,280	$ 227,923

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Income (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Revenues	$ 1,042,197			$ 756,904			$ 2,722,872	$ 2,080,107
Expenses
Total expenses	940,082			659,588			2,434,813	1,782,904
Total operating income	102,115			97,316			288,059	297,203
Allowance for equity funds used during construction	2,552			2,427			7,431	6,995
Retirement defined benefits credit—other than service costs	1,039			1,058			3,528	4,709
Allowance for borrowed funds used during construction	825			827			2,401	2,386
Income before income taxes	79,905			78,151			233,602	241,291
Income taxes	17,352			14,265			48,395	48,229
Net income attributable to Hawaiian Electric	62,553			63,886			185,207	193,062
Preferred stock dividends of Hawaiian Electric	471			471			1,417	1,417
Net income for common stock	62,082	$ 52,541	$ 69,167	63,415	$ 63,872	$ 64,358	183,790	191,645
Hawaiian Electric Company, Inc. and Subsidiaries
Revenues
Revenues	955,971			679,499			2,483,636	1,846,242
Expenses
Fuel oil	383,602			180,682			874,543	447,245
Purchased power	225,209			185,759			606,827	490,520
Other operation and maintenance	121,110			116,468			371,259	349,180
Depreciation	58,711			57,386			175,921	172,122
Taxes, other than income taxes	88,290			64,012			231,288	175,185
Total expenses	876,922			604,307			2,259,838	1,634,252
Total operating income	79,049			75,192			223,798	211,990
Allowance for equity funds used during construction	2,552			2,427			7,431	6,995
Retirement defined benefits credit—other than service costs	895			877			2,876	2,918
Interest expense and other charges, net	(19,609)			(18,148)			(56,735)	(54,126)
Allowance for borrowed funds used during construction	825			827			2,401	2,386
Income before income taxes	63,712			61,175			179,771	170,163
Income taxes	13,450			10,335			37,967	33,066
Net income	50,262			50,840			141,804	137,097
Preferred stock dividends of subsidiaries	228			228			686	686
Net income attributable to Hawaiian Electric	50,034			50,612			141,118	136,411
Preferred stock dividends of Hawaiian Electric	270			270			810	810
Net income for common stock	$ 49,764	$ 44,135	$ 46,409	$ 50,342	$ 41,901	$ 43,358	$ 140,308	$ 135,601

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Comprehensive Income (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Net income for common stock	$ 62,082	$ 52,541	$ 69,167	$ 63,415	$ 63,872	$ 64,358	$ 183,790	$ 191,645
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes of $1,943, $985, $3,549 and $5,155, respectively	5,606			2,853			10,229	14,871
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $(1,839), $(971), $(3,320) and $(5,002), respectively	(5,303)			(2,799)			(9,572)	(14,421)
Other comprehensive loss, net of taxes	(96,012)	(87,840)	(117,159)	(11,305)	16,472	(44,016)	(301,011)	(38,849)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(33,930)			52,110			(117,221)	152,796
Hawaiian Electric Company, Inc. and Subsidiaries
Net income for common stock	49,764	44,135	46,409	50,342	41,901	43,358	140,308	135,601
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes of $1,943, $985, $3,549 and $5,155, respectively	5,411			2,905			9,782	14,596
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $(1,839), $(971), $(3,320) and $(5,002), respectively	(5,303)			(2,799)			(9,572)	(14,421)
Other comprehensive loss, net of taxes	108	$ 51	$ 51	106	$ 35	$ 34	210	175
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ 49,872			$ 50,448			$ 140,518	$ 135,776

Condensed Consolidated Statem_9

Condensed Consolidated Statements of Comprehensive Income (unaudited) - HECO (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	$ 1,943	$ 985	$ 3,549	$ 5,155
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	(1,839)	(971)	(3,320)	(5,002)
Hawaiian Electric Company, Inc. and Subsidiaries
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	1,877	1,007	3,393	5,062
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	$ (1,839)	$ (971)	$ (3,320)	$ (5,002)

Condensed Consolidated Balanc_3

Condensed Consolidated Balance Sheets (unaudited) - HECO - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Utility property, plant and equipment
Total property, plant and equipment, net	$ 5,599,937	$ 5,392,068
Current assets
Cash and cash equivalents	175,280	305,551
Restricted cash	3,898	5,911
Other long-term assets
Operating lease right-of-use assets	121,302	122,416
Total assets	16,264,868	15,822,637
Capitalization
Retained earnings	826,794	757,921
Accumulated other comprehensive loss, net of tax benefits-retirement benefit plans	(353,544)	(52,533)
Total shareholders’ equity	2,162,922	2,390,884
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Commitments and contingencies (Notes 3 and 4)
Current liabilities
Interest and dividends payable	36,158	19,889
Deferred credits and other liabilities
Deferred income taxes	263,929	384,760
Total liabilities and shareholders’ equity	16,264,868	15,822,637
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Land	52,060	51,937
Plant and equipment	7,890,926	7,735,983
Financing lease right-of-use assets	48,371	0
Less accumulated depreciation	(3,067,642)	(2,940,517)
Construction in progress	257,582	204,569
Utility property, plant and equipment, net	5,181,297	5,051,972
Nonutility property, plant and equipment, less accumulated depreciation	6,946	6,949
Total property, plant and equipment, net	5,188,243	5,058,921
Current assets
Cash and cash equivalents	21,304	52,169
Restricted cash	0	3,089
Customer accounts receivable, net	258,972	186,859
Accrued unbilled revenues, net	220,420	129,155
Other accounts receivable, net	15,492	7,267
Fuel oil stock, at average cost	229,725	104,078
Materials and supplies, at average cost	77,579	71,877
Prepayments and other	45,798	46,031
Regulatory assets	55,906	66,664
Total current assets	925,196	667,189
Other long-term assets
Operating lease right-of-use assets	93,709	101,470
Regulatory assets	441,282	498,879
Other	158,116	165,166
Total other long-term assets	693,107	765,515
Total assets	6,806,546	6,491,625
Capitalization
Common stock ($6 2/3 par value, authorized 50,000,000 shares; outstanding 17,753,533 shares at September 30, 2022 and December 31, 2021)	118,376	118,376
Premium on capital stock	798,526	798,526
Retained earnings	1,394,160	1,348,277
Accumulated other comprehensive loss, net of tax benefits-retirement benefit plans	(3,070)	(3,280)
Total shareholders’ equity	2,307,992	2,261,899
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,684,699	1,624,427
Total capitalization	4,026,984	3,920,619
Commitments and contingencies (Notes 3 and 4)
Current liabilities
Current portion of operating lease liabilities	18,572	49,368
Current portion of long-term debt	51,995	51,975
Short-term borrowings from non-affiliates	97,450	0
Accounts payable	165,461	160,007
Interest and dividends payable	29,164	17,325
Taxes accrued, including revenue taxes	256,343	208,280
Regulatory liabilities	29,318	29,760
Other	79,788	71,569
Total current liabilities	728,091	588,284
Deferred credits and other liabilities
Operating lease liabilities	83,311	65,780
Finance lease liabilities	46,468	0
Deferred income taxes	392,176	408,634
Regulatory liabilities	1,001,058	967,008
Unamortized tax credits	98,001	103,945
Defined benefit pension and other postretirement benefit plans liability	308,133	321,780
Other	122,324	115,575
Total deferred credits and other liabilities	2,051,471	1,982,722
Total liabilities and shareholders’ equity	$ 6,806,546	$ 6,491,625

Condensed Consolidated Balanc_4

Condensed Consolidated Balance Sheets (unaudited) - HECO (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Shareholders’ equity
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, shares outstanding (in shares)	109,470,325	109,311,785
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Nonutility property, plant and equipment, accumulated depreciation	$ 62	$ 59
Shareholders’ equity
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, shares outstanding (in shares)	17,753,533	17,753,533

Condensed Consolidated State_10

Condensed Consolidated Statements of Changes in Shareholders' Equity (unaudited) - HECO - USD ($) $ in Thousands	Total	Hawaiian Electric Company, Inc. and Subsidiaries	Common stock	Common stock Hawaiian Electric Company, Inc. and Subsidiaries	Premium on capital stock Hawaiian Electric Company, Inc. and Subsidiaries	Retained earnings	Retained earnings Hawaiian Electric Company, Inc. and Subsidiaries	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss) Hawaiian Electric Company, Inc. and Subsidiaries
Beginning balance (in shares) at Dec. 31, 2020			109,181,000	17,324,000
Beginning balance at Dec. 31, 2020	$ 2,337,502	$ 2,141,918	$ 1,678,368	$ 115,515	$ 746,987	$ 660,398	$ 1,282,335	$ (1,264)	$ (2,919)
Increase (decrease) in stockholders' equity
Net income for common stock	64,358	43,358				64,358	43,358
Other comprehensive (loss) income, net of tax benefits	(44,016)	34						(44,016)	34
Common stock dividends	(37,156)	(27,925)				(37,156)	(27,925)
Ending balance (in shares) at Mar. 31, 2021			109,281,000	17,324,000
Ending balance at Mar. 31, 2021	2,321,293	2,157,385	$ 1,678,973	$ 115,515	746,987	687,600	1,297,768	(45,280)	(2,885)
Beginning balance (in shares) at Dec. 31, 2020			109,181,000	17,324,000
Beginning balance at Dec. 31, 2020	2,337,502	2,141,918	$ 1,678,368	$ 115,515	746,987	660,398	1,282,335	(1,264)	(2,919)
Increase (decrease) in stockholders' equity
Net income for common stock	191,645	135,601
Other comprehensive (loss) income, net of tax benefits	(38,849)	175
Common stock dividends		(83,775)
Ending balance (in shares) at Sep. 30, 2021			109,311,000	17,324,000
Ending balance at Sep. 30, 2021	2,383,543	2,193,919	$ 1,683,090	$ 115,515	746,987	740,566	1,334,161	(40,113)	(2,744)
Beginning balance (in shares) at Mar. 31, 2021			109,281,000	17,324,000
Beginning balance at Mar. 31, 2021	2,321,293	2,157,385	$ 1,678,973	$ 115,515	746,987	687,600	1,297,768	(45,280)	(2,885)
Increase (decrease) in stockholders' equity
Net income for common stock	63,872	41,901				63,872	41,901
Other comprehensive (loss) income, net of tax benefits	16,472	35						16,472	35
Common stock dividends	(37,155)	(27,925)				(37,155)	(27,925)
Ending balance (in shares) at Jun. 30, 2021			109,311,000	17,324,000
Ending balance at Jun. 30, 2021	2,367,329	2,171,396	$ 1,681,820	$ 115,515	746,987	714,317	1,311,744	(28,808)	(2,850)
Increase (decrease) in stockholders' equity
Net income for common stock	63,415	50,342				63,415	50,342
Other comprehensive (loss) income, net of tax benefits	(11,305)	106						(11,305)	106
Common stock dividends	(37,166)	(27,925)				(37,166)	(27,925)
Ending balance (in shares) at Sep. 30, 2021			109,311,000	17,324,000
Ending balance at Sep. 30, 2021	$ 2,383,543	2,193,919	$ 1,683,090	$ 115,515	746,987	740,566	1,334,161	(40,113)	(2,744)
Beginning balance (in shares) at Dec. 31, 2021	109,311,785		109,312,000	17,753,000
Beginning balance at Dec. 31, 2021	$ 2,390,884	2,261,899	$ 1,685,496	$ 118,376	798,526	757,921	1,348,277	(52,533)	(3,280)
Increase (decrease) in stockholders' equity
Net income for common stock	69,167	46,409				69,167	46,409
Other comprehensive (loss) income, net of tax benefits	(117,159)	51						(117,159)	51
Common stock dividends	(38,301)	(31,475)				(38,301)	(31,475)
Ending balance (in shares) at Mar. 31, 2022			109,431,000	17,753,000
Ending balance at Mar. 31, 2022	$ 2,303,642	2,276,884	$ 1,684,547	$ 118,376	798,526	788,787	1,363,211	(169,692)	(3,229)
Beginning balance (in shares) at Dec. 31, 2021	109,311,785		109,312,000	17,753,000
Beginning balance at Dec. 31, 2021	$ 2,390,884	2,261,899	$ 1,685,496	$ 118,376	798,526	757,921	1,348,277	(52,533)	(3,280)
Increase (decrease) in stockholders' equity
Net income for common stock	183,790	140,308
Other comprehensive (loss) income, net of tax benefits	$ (301,011)	210
Common stock dividends		(94,425)
Ending balance (in shares) at Sep. 30, 2022	109,470,325		109,470,000	17,753,000
Ending balance at Sep. 30, 2022	$ 2,162,922	2,307,992	$ 1,689,672	$ 118,376	798,526	826,794	1,394,160	(353,544)	(3,070)
Beginning balance (in shares) at Mar. 31, 2022			109,431,000	17,753,000
Beginning balance at Mar. 31, 2022	2,303,642	2,276,884	$ 1,684,547	$ 118,376	798,526	788,787	1,363,211	(169,692)	(3,229)
Increase (decrease) in stockholders' equity
Net income for common stock	52,541	44,135				52,541	44,135
Other comprehensive (loss) income, net of tax benefits	(87,840)	51						(87,840)	51
Common stock dividends	(38,301)	(31,475)				(38,301)	(31,475)
Ending balance (in shares) at Jun. 30, 2022			109,467,000	17,753,000
Ending balance at Jun. 30, 2022	2,233,504	2,289,595	$ 1,688,009	$ 118,376	798,526	803,027	1,375,871	(257,532)	(3,178)
Increase (decrease) in stockholders' equity
Net income for common stock	62,082	49,764				62,082	49,764
Other comprehensive (loss) income, net of tax benefits	(96,012)	108						(96,012)	108
Common stock dividends	$ (38,315)	(31,475)				(38,315)	(31,475)
Ending balance (in shares) at Sep. 30, 2022	109,470,325		109,470,000	17,753,000
Ending balance at Sep. 30, 2022	$ 2,162,922	$ 2,307,992	$ 1,689,672	$ 118,376	$ 798,526	$ 826,794	$ 1,394,160	$ (353,544)	$ (3,070)

Condensed Consolidated State_11

Condensed Consolidated Statements of Cash Flows (unaudited) - HECO - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	$ 190,075	$ 184,389
Other amortization	28,916	24,511
Deferred income taxes	(21,631)	(13,473)
Allowance for equity funds used during construction	(7,431)	(6,995)
Other	(5,392)	(7,046)
Changes in assets and liabilities
Increase in fuel oil stock	(127,413)	(42,612)
Decrease (increase) in regulatory assets	34,278	(4,952)
Increase in regulatory liabilities	29,294	8,806
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	73,279	11,133
Decrease in defined benefit pension and other postretirement benefit plans liability	(4,228)	(5,288)
Change in other assets and liabilities	(44,411)	(51,833)
Net cash provided by operating activities	212,987	267,205
Cash flows from investing activities
Capital expenditures	(236,278)	(219,252)
Other	15,646	10,078
Net cash used in investing activities	(794,762)	(984,839)
Cash flows from financing activities
Common stock dividends	(114,917)	(111,477)
Repayment of short-term debt	0	(65,000)
Proceeds from issuance of long-term debt	67,312	206,988
Net increase in other bank borrowings with original maturities of three months or less	320,735	39,635
Other	(6,112)	(7,462)
Net cash provided by financing activities	449,491	595,990
Net decrease in cash, cash equivalents and restricted cash	(132,284)	(121,644)
Cash, cash equivalents and restricted cash, beginning of period	311,462	358,979
Cash, cash equivalents and restricted cash, end of period	179,178	237,335
Less: Restricted cash	(3,898)	(9,412)
Cash and cash equivalents, end of period	175,280	227,923
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income	141,804	137,097
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	175,921	172,122
Other amortization	19,044	17,058
Deferred income taxes	(27,671)	(12,333)
State refundable credit	(8,275)	(7,955)
Bad debt expense	4,406	1,303
Allowance for equity funds used during construction	(7,431)	(6,995)
Other	94	991
Changes in assets and liabilities
Increase in accounts receivable	(64,404)	(33,621)
Increase in accrued unbilled revenues	(91,256)	(27,491)
Increase in fuel oil stock	(125,647)	(42,563)
Increase in materials and supplies	(5,702)	(5,653)
Decrease (increase) in regulatory assets	34,278	(4,952)
Increase in regulatory liabilities	29,294	8,806
Increase in accounts payable	18,108	27,210
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	57,681	2,934
Decrease in defined benefit pension and other postretirement benefit plans liability	(3,647)	(3,902)
Change in other assets and liabilities	(22,430)	(23,800)
Net cash provided by operating activities	124,167	198,256
Cash flows from investing activities
Capital expenditures	(225,876)	(203,746)
Other	6,750	6,157
Net cash used in investing activities	(219,126)	(197,589)
Cash flows from financing activities
Common stock dividends	(94,425)	(83,775)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(1,496)	(1,496)
Repayment of short-term debt	0	(50,000)
Proceeds from issuance of long-term debt	60,000	115,000
Net increase in other bank borrowings with original maturities of three months or less	97,450	0
Payments of obligations under finance leases	(266)	0
Other	(258)	(942)
Net cash provided by financing activities	61,005	(21,213)
Net decrease in cash, cash equivalents and restricted cash	(33,954)	(20,546)
Cash, cash equivalents and restricted cash, beginning of period	55,258	63,326
Cash, cash equivalents and restricted cash, end of period	21,304	42,780
Less: Restricted cash	0	(6,313)
Cash and cash equivalents, end of period	$ 21,304	$ 36,467

Basis of presentation

Basis of presentation	9 Months Ended
	Sep. 30, 2022
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, 2021.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 September 30, 2022 and December 31, 2021 and the results of their operations for the three and nine months ended September 30, 2022 and 2021 and cash flows for the nine months ended September 30, 2022 and 2021. 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 March 2022, Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2022-02, “Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which eliminates the accounting guidance for Troubled Debt Restructurings (TDRs) by creditors in Subtopic 310-40, Receivables-Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance in paragraphs 310-20-35-9 through 35-11 to determine whether a modification results in a new loan or a continuation of an existing loan. The amendments in this update also require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, “Financial Instruments-Credit Losses-Measured at Amortized Cost.” Gross write-off information must be included in the vintage disclosures required for public business entities in accordance with paragraph 325-20-50-6, which requires that an entity disclose the amortized cost basis of financing receivables by credit-quality indicator and class of financing receivable by year of origination. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. ASB is assessing the requirements of the ASU.

Segment financial information

Segment financial information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment financial information	Segment financial information (in thousands) Electric utility Bank Other Total Three months ended September 30, 2022 Revenues from external customers $ 955,971 $ 81,411 $ 4,815 $ 1,042,197 Intersegment revenues (eliminations) — — — — Revenues $ 955,971 $ 81,411 $ 4,815 $ 1,042,197 Income (loss) before income taxes $ 63,712 $ 27,281 $ (11,088) $ 79,905 Income taxes (benefit) 13,450 6,525 (2,623) 17,352 Net income (loss) 50,262 20,756 (8,465) 62,553 Preferred stock dividends of subsidiaries 498 — (27) 471 Net income (loss) for common stock $ 49,764 $ 20,756 $ (8,438) $ 62,082 Nine months ended September 30, 2022 Revenues from external customers $ 2,483,632 $ 231,850 $ 7,390 $ 2,722,872 Intersegment revenues (eliminations) 4 — (4) — Revenues $ 2,483,636 $ 231,850 $ 7,386 $ 2,722,872 Income (loss) before income taxes $ 179,771 $ 79,605 $ (25,774) $ 233,602 Income taxes (benefit) 37,967 17,513 (7,085) 48,395 Net income (loss) 141,804 62,092 (18,689) 185,207 Preferred stock dividends of subsidiaries 1,496 — (79) 1,417 Net income (loss) for common stock $ 140,308 $ 62,092 $ (18,610) $ 183,790 Total assets (at September 30, 2022) $ 6,806,546 $ 9,315,611 $ 142,711 $ 16,264,868 Three months ended September 30, 2021 Revenues from external customers $ 679,482 $ 76,208 $ 1,214 $ 756,904 Intersegment revenues (eliminations) 17 — (17) — Revenues $ 679,499 $ 76,208 $ 1,197 $ 756,904 Income (loss) before income taxes $ 61,175 $ 25,241 $ (8,265) $ 78,151 Income taxes (benefit) 10,335 5,976 (2,046) 14,265 Net income (loss) 50,840 19,265 (6,219) 63,886 Preferred stock dividends of subsidiaries 498 — (27) 471 Net income (loss) for common stock $ 50,342 $ 19,265 $ (6,192) $ 63,415 Nine months ended September 30, 2021 Revenues from external customers $ 1,846,206 $ 230,599 $ 3,302 $ 2,080,107 Intersegment revenues (eliminations) 36 — (36) — Revenues $ 1,846,242 $ 230,599 $ 3,266 $ 2,080,107 Income (loss) before income taxes $ 170,163 $ 102,335 $ (31,207) $ 241,291 Income taxes (benefit) 33,066 23,230 (8,067) 48,229 Net income (loss) 137,097 79,105 (23,140) 193,062 Preferred stock dividends of subsidiaries 1,496 — (79) 1,417 Net income (loss) for common stock $ 135,601 $ 79,105 $ (23,061) $ 191,645 Total assets (at December 31, 2021) $ 6,491,625 $ 9,181,603 $ 149,409 $ 15,822,637 Intercompany electricity sales of the Utilities to ASB 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. 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	9 Months Ended
	Sep. 30, 2022
Electric Utility Subsidiary [Abstract]
Electric utility segment	Electric utility segment Unconsolidated variable interest entities. Power purchase agreements . As of September 30, 2022, the Utilities had four PPAs for firm capacity (including the Puna Geothermal Venture PPA that went offline in May 2018 due to lava flow on Hawaii Island, but returned to service with firm capacity of 13.0 MW in the first quarter of 2021, ramped up to 23.9 MW in the second quarter of 2021, and further increased to 25.7 MW in June 2022) 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) and Hamakua Energy by reason of the provisions of the PPA that the Utilities have with the two IPPs. However, management has concluded that the Utilities are not the primary beneficiary of Kalaeloa and Hamakua Energy because the Utilities do not have the power to direct the activities that most significantly impact the two 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 and Hamakua Energy in its condensed consolidated financial statements. However, Hamakua Energy is an indirect subsidiary of Pacific Current and is consolidated in HEI’s condensed consolidated financial statements. Commitments and contingencies. Contingencies . The Utilities are subject in the normal course of business to pending and threatened legal proceedings. Management does not anticipate that the aggregate ultimate liability arising out of these pending or threatened legal proceedings will be material to its financial position. However, the Utilities cannot rule out the possibility that such outcomes could have a material effect on the results of operations or liquidity for a particular reporting period in the future. Power purchase agreements . Purchases from all IPPs were as follows: Three months ended September 30 Nine months ended September 30 (in millions) 2022 2021 2022 2021 Kalaeloa $ 101 $ 56 $ 244 $ 142 AES Hawaii 21 32 82 98 HPOWER 18 20 56 51 Hamakua Energy 16 15 46 38 Puna Geothermal Venture 13 9 37 20 Wind IPPs 37 38 93 95 Solar IPPs 18 12 44 40 Other IPPs 1 1 4 5 7 Total IPPs $ 225 $ 186 $ 607 $ 491 1 Includes hydro power and other PPAs Kalaeloa Partners, L.P. Under a 1988 PPA, as amended, Hawaiian Electric is committed to purchase 208 MW of firm capacity from Kalaeloa. In October 2021, Hawaiian Electric and Kalaeloa signed the Amended and Restated Power Purchase Agreement for Firm Dispatchable Capacity and Energy (Amended and Restated PPA) to extend the PPA for an additional term of 10 years. In November 2021, Hawaiian Electric submitted an application for approval of the Amended and Restated PPA to the PUC, which is pending approval before the PUC. The price of purchases from Kalaeloa in the third quarter of 2022 have increased 80% over the third quarter of 2021, primarily due to increased fuel oil cost. AES Hawaii, Inc. Under a PPA entered into in March 1988, as amended (through Amended and Restated Amendment No. 4) for a period of 30 years ending September 2022, Hawaiian Electric agreed to purchase 180 MW of firm capacity from AES Hawaii. The term of the PPA expired on September 1, 2022 and the AES Hawaii coal plant ceased operations. Stage 1 Renewable PPAs. In February 2018, the Utilities issued Stage 1 Renewable request for proposal and have procured eight renewable PPAs with a total of 274.5 MW capacity. The total annual payments for the eight renewable PPAs are estimated at $64.7 million. The Utilities have received PUC approvals subsequently to recover the total projected annual payment for the eight renewable PPAs through the PPAC to the extent such costs are not included in base rates. On July 31, 2022, Mililani I Solar, the first utility-scale solar-plus-storage project reached commercial operations on Oahu. The project is for a 20-year term and generates 39 MW, including a 156 MWh battery. The Utilities have accounted for battery portion of the project as a finance lease and recorded a lease liability with a corresponding right-of-use asset of $48 million. Hu Honua Bioenergy, LLC (Hu Honua). In May 2012, Hawaii Electric Light signed a PPA, which the PUC approved in December 2013, with Hu Honua for 21.5 MW of renewable, dispatchable firm capacity fueled by locally grown biomass from a facility on the island of Hawaii. Under the terms of the PPA, the Hu Honua plant was scheduled to be in service in 2016. However, Hu Honua encountered construction and litigation delays, which resulted in an amended and restated PPA between Hawaii Electric Light and Hu Honua dated May 9, 2017. In July 2017, the PUC approved the amended and restated PPA, which becomes effective once the PUC’s order is final and non-appealable. In August 2017, the PUC’s approval was appealed by a third party. On May 10, 2019, the Hawaii Supreme Court issued a decision remanding the matter to the PUC for further proceedings consistent with the court’s decision, which must include express consideration of greenhouse gas (GHG) emissions that would result from approving the PPA, whether the cost of energy under the PPA is reasonable in light of the potential for GHG emissions, and whether the terms of the PPA are prudent and in the public interest, in light of its potential hidden and long-term consequences. As a result, the PUC reopened the docket for further proceedings, including re-examining all of the issues in the proceedings. On July 9, 2020, the PUC issued an order denying Hawaii Electric Light’s request to waive the amended and restated PPA from the PUC’s competitive bidding requirements and therefore, dismissed the request for approval of the amended and restated PPA without prejudice to possible participation in any future competitive bidding process. On September 9, 2020, the PUC denied Hu Honua’s motion for reconsideration of the PUC’s order. Hu Honua filed its notice of appeal to the Hawaii Supreme Court of the PUC’s order denying Hu Honua’s motion for reconsideration. On May 24, 2021, the Hawaii Supreme Court vacated the PUC’s decision and remanded the matter back to the PUC for further proceedings. On June 30, 2021, the PUC issued an order reopening the docket consistent with the Hawaii Supreme Court’s order. A contested case hearing was held in March 2022. On May 23, 2022, the PUC issued a decision and order denying the amended and restated PPA, based on, among other things, findings that: (1) the project will result in significant GHG emissions, (2) Hu Honua’s proposed carbon commitment to sequester more GHG emissions than produced by the project are speculative and unsupported, (3) the amended and restated PPA is likely to result in high costs to customers through its relatively high cost of electricity and through potential displacement of other, lower cost, renewable resources, and (4) based on the foregoing, approving the amended and restated PPA is not prudent or in the public interest. On June 2, 2022, Hawaii Electric Light and Hu Honua filed their separate motions for reconsideration. On June 24, 2022, the PUC issued an order denying Hawaii Electric Light and Hu Honua’s respective motions for reconsideration. On June 29, 2022, Hu Honua filed its notice of appeal to the Hawaii Supreme Court of the PUC’s May 23, 2022 decision and order denying the amended and restated PPA, and the PUC’s June 24, 2022 order denying Hawaii Electric Light and Hu Honua’s motions for reconsideration. Opening briefs were filed with the Supreme Court on October 5, 2022. Answering briefs are due on December 5, 2022. Molokai New Energy Partners (MNEP). In July 2018, the PUC approved Maui Electric’s PPA with MNEP to purchase solar energy from a photovoltaic (PV) plus battery storage project. The 4.88 MW PV and 3 MW Battery Energy Storage System project was to deliver no more than 2.64 MW at any time to the Molokai system. On March 25, 2020, MNEP filed a complaint in the United Stated District Court for the District of Hawaii against Maui Electric claiming breach of contract. On June 3, 2020, Maui Electric provided Notice of Default and Termination of the PPA to MNEP terminating the PPA with an effective date of July 10, 2020. Thereafter, MNEP filed an amended Complaint to include claims relating to the termination and Hawaiian Electric filed its Answer to the Amended Complaint on September 11, 2020, disputing the facts presented by MNEP and all claims within the original and amended complaint. Currently, the discovery phase is ongoing. Fuels barging contract. On August 23, 2021, the Utilities entered into a five-year inter-island fuel transportation contract with Sause Bros., Inc., which commenced in January 2022. On September 22, 2022, the PUC issued a D&O approving the inter-island fuels transportation contract and recovery of associated costs through ECRC. Utility projects . Many public utility projects require PUC approval and various permits from other governmental agencies. Difficulties in obtaining, or the inability to obtain, the necessary approvals or permits or community support can result in significantly increased project costs or even cancellation of projects. In the event a project does not proceed, or if it becomes probable the PUC will disallow cost recovery for all or part of a project, or if PUC-imposed caps on project costs are expected to be exceeded, project costs may need to be written off in amounts that could result in significant reductions in Hawaiian Electric’s consolidated net income. Enterprise Resource Planning/Enterprise Asset Management (ERP/EAM) implementation project. The ERP/EAM Implementation Project went live in October 2018. Hawaii Electric Light and Hawaiian Electric began to incorporate their portion of the deferred project costs in rate base and started the amortization over a 12-year period in January 2020 and November 2020, respectively. The PUC required a minimum of $246 million ERP/EAM project-related benefit to be delivered to customers over the system’s 12-year service life. In February 2019, the PUC approved a methodology for passing the future cost saving benefits of the new ERP/EAM system to customers developed by the Utilities in collaboration with the Consumer Advocate. The Utilities filed a benefits clarification document on June 10, 2019, reflecting $150 million in future net O&M expense reductions and cost avoidance, and $96 million in capital cost reductions and tax savings over the 12-year service life. To the extent the reduction in O&M expense relates to amounts reflected in electric rates, the Utilities would reduce future rates for such amounts. In October 2019, the PUC approved the Utilities and the Consumer Advocate’s Stipulated Performance Metrics and Tracking Mechanism. As of September 30, 2022, the Utilities’ regulatory liability was $10.0 million ($4.4 million for Hawaiian Electric, $2.2 million for Hawaii Electric Light and $3.4 million for Maui Electric) for the O&M expense savings that are being amortized or to be included in future rates. As part of the settlement agreement approved in the Hawaiian Electric 2020 test year rate case, the regulatory liability for Hawaiian Electric will be amortized over five years, beginning in November 2020, and the O&M benefits for Hawaiian Electric was considered flowed through to customers. On July 7, 2021, the PUC issued an order modifying the reporting frequency of the Semi-Annual Enterprise System Benefits (SAESB) reports to an Annual Enterprise System Benefits (AESB) report on the achieved benefits savings. The most recent AESB report was filed on February 14, 2022 for the period January 1 through December 31, 2021. West Loch PV Project. In November 2019, Hawaiian Electric placed into service a 20-MW (ac) utility-owned and operated renewable and dispatchable solar facility on property owned by the Department of the Navy. PUC orders resulted in a project cost cap of $67 million (including a cap of $4.7 million for the in-kind work performed in exchange for use of the Navy property) with capital cost recovery approved under MPIR (See “Performance-based regulation framework” section below for MPIR guidelines and cost recovery discussion). Project costs incurred as of September 30, 2022 amounted to $60.4 million and generated $14.7 million and $14.0 million in federal and state nonrefundable tax credits, respectively. For book and regulatory purposes, the tax credits are being deferred and amortized, starting in 2020, over 25 years and 10 years for federal and state credits, respectively. In June 2022, the in-kind consideration services were completed and fully accepted by the Navy as partial consideration in lieu of rent payment. Satisfaction of the full-term rent requires on-going compliance with all terms of the lease, which, among other things, includes provision of contingent power upon written notice of the Department of the Navy. Hawaiian Electric accounted for the arrangement as a lease, recording $6.4 million as right-of-use asset with no lease liability and will amortize the right-of-use asset over the remaining term of the lease ending June 30, 2054. Waena Switchyard/Synchronous Condenser Project. In October 2020, to support efforts to increase renewable energy generation and reduce fossil fuel consumption by deactivating current generating units, Maui Electric filed a PUC application to construct a switchyard, which includes the extension of two 69 kV transmission lines and the relocation of another 69 kV transmission line; and the conversion of two generating units to synchronous condensers at Kahului Power Plant in central Maui. In November 2021, the PUC approved Maui Electric’s request to commit funds estimated at $38.8 million for the project, and to recover capital expenditures for the project under Exceptional Project Recovery Mechanism (EPRM) not to exceed $38.8 million, which shall be further reduced to reflect the total project cost exclusive of overhead costs not directly attributable to the project. The Waena Switchyard project is expected to be placed in service in the third quarter of 2023, while the conversion of the two generating units will be performed after the retirement of Kahului Power Plant Units 3 and 4. In approving the project, the PUC recognized that the project will facilitate the ability to accommodate increased renewable energy, as contemplated under the EPRM guidelines. As of September 30, 2022, $11.2 million has been incurred for the project. Environmental regulation . The Utilities are subject to environmental laws and regulations that regulate the operation of existing facilities, the construction and operation of new facilities and the proper cleanup and disposal of hazardous waste and toxic substances. Hawaiian Electric, Hawaii Electric Light and Maui Electric, like other utilities, periodically encounter petroleum or other chemical releases associated with current or previous operations. The Utilities report and take action on these releases when and as required by applicable law and regulations. The Utilities believe the costs of responding to such releases identified to date will not have a material effect, individually or in the aggregate, on Hawaiian Electric’s consolidated results of operations, financial condition or liquidity. Former Molokai Electric Company generation site . In 1989, Maui Electric acquired Molokai Electric Company. Molokai Electric Company had sold its former generation site (Site) in 1983, but continued to operate at the Site under a lease until 1985 and left the property in 1987. The federal Environmental Protection Agency (EPA) has since identified environmental impacts in the subsurface soil at the Site. In cooperation with the Department of Health of State of Hawaii and EPA, Maui Electric further investigated the Site and the adjacent parcel to determine the extent of impacts of polychlorinated biphenyls (PCBs), residual fuel oils and other subsurface contaminants. Maui Electric has a reserve balance of $2.6 million as of September 30, 2022, representing the probable and reasonably estimable undiscounted cost for remediation of the Site and the adjacent parcel based on presently available information; however, final costs of remediation will depend on the cleanup approach implemented. Additionally, on November 24, 2021, the current landowners of the Site, Misaki’s, Inc., filed a lawsuit against Hawaiian Electric (as alleged successor in interest to Molokai Electric, the prior owner of the Site) in the Circuit Court of the Second Circuit of the State of Hawaii (removed to the U.S. District Court for the District of Hawaii). The complaint which was subsequently amended to include Maui Electric, alleges that Hawaiian Electric is responsible for remediation of the Site based on the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA), and the Hawaii Environmental Response Law under Hawaii Revised Statutes Chapter 128D, as well as being liable on contractual claims related to a short leaseback period during the transition of ownership from Molokai Electric. The amended complaint was dismissed and a new complaint may be filed subject to the parties attempt to enter into settlement negotiations, but the Utilities intend to vigorously defend the action if necessary. At this time, the Utilities are unable to determine the ultimate outcome of the lawsuit or the amount of any possible loss. As of September 30, 2022, the reserve balance recorded by the Utilities to address the lawsuit was not material. Pearl Harbor sediment study . In July 2014, the U.S. Navy notified Hawaiian Electric of the Navy’s determination that Hawaiian Electric is a Potentially Responsible Party under CERCLA responsible for the costs of investigation and cleanup of PCB contamination in sediment in the area offshore of the Waiau Power Plant as part of the Pearl Harbor Superfund Site. Hawaiian Electric was also required by the EPA to assess potential sources and extent of PCB contamination onshore at Waiau Power Plant. As of September 30, 2022, the reserve account balance recorded by Hawaiian Electric to address the PCB contamination was $10 million. The reserve balance represents the probable and reasonably estimable undiscounted cost for the onshore and offshore investigation and remediation. The final remediation costs will depend on the actual onshore and offshore cleanup costs. Regulatory proceedings Decoupling . Decoupling is a regulatory model that is intended to provide the Utilities with financial stability and facilitate meeting the State of Hawaii’s goals to transition to a clean energy economy and achieve an aggressive renewable portfolio standard. Decoupling delinks the utility’s revenues from the utility’s sales, removing the disincentive to promote energy efficiency and accept more renewable energy. Decoupling continues under the PBR Framework. Performance-based regulation framework. On December 23, 2020, the PUC issued a decision and order (PBR D&O) establishing a new PBR Framework to govern the Utilities. The PBR Framework incorporates an annual revenue adjustment (ARA) and a suite of new regulatory mechanisms in addition to previously established regulatory mechanisms. Under the PBR Framework, the decoupling mechanism (i.e., the Revenue Balancing Account (RBA)) established by the previous regulatory framework will continue. The existing cost recovery mechanisms will continue as currently implemented (i.e., the Energy Cost Recovery Clause (ECRC), Purchased Power Adjustment Clause (PPAC), Demand Side Management surcharge, Renewable Energy Infrastructure Program, Demand Response Adjustment Clause (DRAC), Pension and Other Post-Employment Benefits (OPEB) tracking mechanisms). In addition to annual revenues provided by the ARA, the Utilities may seek relief for extraordinary projects or programs through the Exceptional Project Recovery Mechanism (EPRM) (formerly known as the Major Project Interim Recovery adjustment mechanism) and earn financial rewards for exemplary performance as provided through a portfolio of Performance Incentive Mechanisms (PIMs) and Shared Savings Mechanisms (SSMs). The PBR Framework incorporates a variety of additional performance mechanisms, including Scorecards, Reported Metrics, and an expedited Pilot Process. The PBR Framework also contains a number of safeguards, including a symmetric Earnings Sharing Mechanism (ESM) which protects the Utilities and customers from excessive earnings or losses, as measured by the Utilities’ achieved rate-making ROACE and a Re-Opener mechanism, under which the PUC will open an examination, at its discretion, to determine if adjustments or modifications to specific PBR mechanisms are appropriate. The new PBR Framework became fully effective on June 1, 2021. On June 17, 2022, the PUC issued a decision and order (June 2022 D&O) establishing additional PIMs under the PBR Framework for the Utilities. In 2021, the PUC Staff originally proposed consideration of 11 PIMs and other mechanisms to address identified areas of concern. Seven of the staff proposed PIMs were designed as penalty-only. The June 2022 D&O approved two new PIMs, a new SSM, and extended the timeframe for an existing PIM. Of the new PIMs, only one is penalty-only. Specifically, the PUC approved (1) a new (penalty-only) generation-caused interruption reliability PIM, (2) a new (penalty/reward) interconnection requirements study (IRS) PIM, (3) a new (reward-only) Collective Shared Savings Mechanism (CSSM), and (4) a modification and extension of the existing interim (reward-only) Grid Services PIM. The effective date for the changes has not yet been established. On September 27, 2022, the Utilities submitted for the PUC’s review and approval, proposed tariffs to implement the aforementioned PIMs with an evaluation period proposed for the generation-caused interruption reliability PIMs, IRS PIM, and CSSM to start on January 1, 2023, which is pending PUC approval. The evaluation period is the calendar year period over which performance is compared to PIM performance targets to determine the amount of reward or penalty. In addition, the June 2022 D&O instructed the Utilities to prepare and submit: a detailed fossil fuel retirement report (FF Retirement Report) outlining necessary steps to safely and reliably retire certain existing fossil fuel power plants during the first multi-year rate period (MRP); and a functional integration plan (FIP) for distributed energy resources (DER) to increase transparency into the Utilities’ plans and progress for utilizing cost-effective grid services from DERs and ensure that the necessary functionalities and requisite technologies are in place to do so. The PUC also instructed the PBR Working Group to continue its ongoing collaborative efforts to consider other potential new incentive mechanisms and to address other issues raised during the proceeding. On October 27, 2022, the PUC issued a Notice of PBR Working Group Meeting, which is scheduled for November 29, 2022. In accordance with the June 2022 D&O, the Utilities filed their FIP and FF Retirement Report with the PUC on September 30, 2022 and October 14, 2022, respectively. Revenue adjustment mechanism . Prior to the implementation of the PBR Framework, the revenue adjustment mechanism (RAM) was a major component of the previously established regulatory framework. The RAM was based on the lesser of: a) an inflationary adjustment for certain O&M expenses and return on investment for certain rate base changes, or b) cumulative annual compounded increase in Gross Domestic Product Price Index applied to annualized target revenues (the RAM Cap). Under the PBR Framework, the ARA mechanism replaced the RAM, and became effective on June 1, 2021. RAM revenue adjustments approved by the PUC in 2020 will continue to be included in the RBA provision’s target revenue and RBA rate adjustment unless modified with PUC approval. Annual revenue adjustment mechanism . The PBR Framework established a five-year MRP during which there will be no general rate cases. Target revenues will be adjusted according to an index-driven ARA based on (i) an inflation factor, (ii) a predetermined X-factor to encompass productivity, which is set at zero, (iii) a Z-factor to account for exceptional circumstances not in the Utilities’ control and (iv) a customer dividend consisting of a negative adjustment of 0.22% of adjusted revenue requirements compounded annually and a flow through of the “pre-PBR” savings commitment from the management audit recommendations developed in a prior docket at a rate of $6.6 million per year from 2021 to 2025. The implementation of the ARA occurred on June 1, 2021. Earnings sharing mechanism . The PBR Framework established a symmetrical ESM for achieved rate-making ROACE outside of a 300 basis points dead band above or below the current authorized ROACE of 9.5% for each of the Utilities. There is a 50/50 sharing between customers and Utilities for the achieved rate-making ROACE falling within 150 basis points outside of the dead band in either direction, and a 90/10 sharing for any further difference. A reopening or review of the PBR terms will be triggered if the Utilities credit rating outlook indicates a potential credit downgrade below investment grade status, or if its achieved rate-making ROACE enters the outer most tier of the ESM. Exceptional project recovery mechanism . Prior to the implementation of the PBR Framework, the PUC established the Major Project Interim Recovery (MPIR) adjustment mechanism and MPIR Guidelines. The MPIR mechanism provides the opportunity to recover revenues for net costs of approved eligible projects placed in service between general rate cases. In establishing the PBR Framework, the MPIR Guidelines were terminated and replaced with the EPRM Guidelines. Although the MPIR Guidelines were terminated and replaced by the EPRM Guidelines, the MPIR mechanism will continue within the PBR Framework to provide recovery of project costs previously approved for recovery under the MPIR. The newly established EPRM Guidelines permit the Utilities to include the full amount of approved costs in the EPRM for recovery in the first year the project goes into service, pro-rated for the portion of the year the project is in service. Deferred and O&M expense projects are also eligible for EPRM recovery under the EPRM Guidelines. EPRM recoverable costs will be limited to the lesser of actual incurred project costs or PUC‑approved amounts, net of savings. As of September 30, 2022, the Utilities submitted 2022 MPIR and EPRM amounts totaling $26.2 million, including revenue taxes, for the Schofield Generating Station ($16.5 million), West Loch PV Project ($3.5 million), Grid Modernization Strategy (GMS) Phase 1 project ($6.1 million for all three utilities) and Waiawa UFLS project ($0.1 million) for the accrual of revenues effective January 1, 2022, that included the 2022 return on project amount (based on approved amounts) in rate base, depreciation and incremental O&M expenses. The PUC approved the Utilities’ recovery of the annualized 2022 MPIR amounts for the Schofield Generating Station and GMS Phase 1 projects effective June 1, 2022 through the RBA rate adjustment. Recovery of the incremental change to the West Loch PV project and Waiawa UFLS project are subject to PUC approval. As of September 30, 2022, the PUC approved two EPRM applications for projects totaling $41 million to the extent that the project costs are not included in rates. Currently, the Utilities have outstanding applications seeking EPRM recovery for five projects with total project costs of $450 million, subject to PUC approval. Pilot process . The PBR D&O approved a Pilot Process to foster innovation by establishing an expedited implementation process for pilots that test new technologies, programs, business models, and other arrangements. The Pilot Process is intended to support initiatives by the Utilities to test new programs and ideas quickly and elevate any successful pilots for consideration of full-scale implementation. The proposed pilots are subject to PUC approval with a total annual cap of $10 million. The Pilot Process includes an initial workplan development phase, during which the Utilities identify and scope areas of interests, so as to inform the subsequent implementation phase, during which the Utilities submit specific pilot proposals (Pilot Notices) for expedited review by the PUC. The PUC will strive to issue an order addressing a proposed pilot within 45 days of the filing date of a Pilot Notice. If the PUC does not take affirmative action on a Pilot Notice by the end of the 45-day period, the Pilot Notice shall be considered approved as submitted. The PUC may, where necessary, suspend the Pilot Notice for further investigation within the 45-day period. On July 9, 2021, the PUC issued an order approving the Utilities’ proposed Pilot Process submitted in April 2021 with modifications, including a cost recovery process that generally allows the Utilities to defer and recover total annual expenditures of approved pilot projects in full over twelve months beginning June 1 of the year following implementation through the RBA rate adjustment, although the Utilities may determine on a case-by-case basis that a particular project’s deferred costs should be amortized over a period greater than twelve months. On July 28, 2021, the Utilities submitted the finalized Pilot Process to govern the review of the pilot project proposals, as directed by the July 9, 2021 order. On February 28, 2022, the Utilities filed their first annual Pilot Update report covering pilot projects that were approved and initiated prior to the commencement of the expedited notification and review process. The Pilot Update reported on approximately $0.1 million of 2021 deferred costs which was incorporated in the Utilities’ adjustments to target revenue in the 2022 spring revenue report. The PUC approved the Utilities’ recovery of the 2021 Pilot amounts effective June 1, 2022 through the RBA rate adjustment. On October 19, 2022, the PUC approved the Utilities’ proposed Workplan as supplemented on September 23, 2022, completing the initial workplan development phase. On October 20, 2022, the PUC opened a new docket to receive and address Notices submitted pursuant to the Pilot Process, commencing the implementation phase. On October 26, 2022, the Utilities filed for the PUC’s approval to commence a Clearinghouse Pilot project in January 2023, which is to establish a cloud-based data analytics clearinghouse repository. This is the first notice filed in the Pilot Process implementation phase. Performance incentive mechanisms . The PUC has established the following PIMs and SSMs: (1) Service Quality performance incentives, (2) Phase 1 Request for proposal (RFP) PIM for procurement of low-cost renewable energy, (3) Phase 2 RFP PIMs for generation and generation plus storage project, and Grid Services and standalone storage, (4) new PIMs established in the PBR D&O and (5) new PIMs and a SSM established in the June 2022 D&O. • Service Quality performance incentives (ongoing). Service Quality performance incentives are measured on a calendar-year basis. The PIM tariff requires the performance targets, deadbands and the amount of maximum financial incentives used to determine the PIM financial incentive levels for each of the PIMs to remain constant in interim periods, unless otherwise amended by order of the PUC. • Service Reliability Performance measured by Transmission and Distribution-caused System Average Interruption Duration and Frequency Indexes (penalties only). Target performance is based on each utility’s historical 10-year average performance with a deadband of one standard deviation. The maximum penalty for each performance index is 20 basis points applied to the common equity share of each respective utility’s approved rate base (or maximum penalties of approximately $6.8 million - for both indices in total for the three utilities). For the 2021 evaluation period, the Utilities incurred $0.2 million in penalties. • Call Center Performance measured by the percentage of calls answered within 30 seconds. Target performance is based on the annual average performance for each utility for the most recent 8 quarters with a deadban

Bank segment

Bank segment	9 Months Ended
	Sep. 30, 2022
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 September 30 Nine months ended September 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income Interest and fees on loans $ 53,365 $ 49,445 $ 147,499 $ 150,418 Interest and dividends on investment securities 15,052 11,996 43,729 31,709 Total interest and dividend income 68,417 61,441 191,228 182,127 Interest expense Interest on deposit liabilities 1,704 1,176 3,572 3,919 Interest on other borrowings 1,055 5 1,199 55 Total interest expense 2,759 1,181 4,771 3,974 Net interest income 65,658 60,260 186,457 178,153 Provision for credit losses (186) (1,725) (692) (22,367) Net interest income after provision for credit losses 65,844 61,985 187,149 200,520 Noninterest income Fees from other financial services 4,763 4,800 15,066 15,337 Fee income on deposit liabilities 4,879 4,262 14,122 12,029 Fee income on other financial products 2,416 2,124 7,663 6,767 Bank-owned life insurance 122 2,026 661 6,211 Mortgage banking income 181 1,272 1,630 7,497 Gain on sale of real estate — — 1,002 — Gain on sale of investment securities, net — — — 528 Other income, net 633 283 1,480 631 Total noninterest income 12,994 14,767 41,624 49,000 Noninterest expense Compensation and employee benefits 28,597 30,888 83,478 86,595 Occupancy 5,577 5,157 16,996 15,226 Data processing 4,509 4,278 13,144 13,162 Services 2,751 2,272 7,712 7,609 Equipment 2,432 2,373 7,163 6,989 Office supplies, printing and postage 1,123 1,072 3,256 3,094 Marketing 925 995 2,877 2,308 FDIC insurance 914 808 2,613 2,412 Other expense 4,729 3,668 11,929 9,790 Total noninterest expense 51,557 51,511 149,168 147,185 Income before income taxes 27,281 25,241 79,605 102,335 Income taxes 6,525 5,976 17,513 23,230 Net income 20,756 19,265 62,092 79,105 Other comprehensive loss, net of taxes (98,942) (11,684) (310,218) (40,439) Comprehensive income (loss) $ (78,186) $ 7,581 $ (248,126) $ 38,666 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income $ 68,417 $ 61,441 $ 191,228 $ 182,127 Noninterest income 12,994 14,767 41,624 49,000 Less: Gain on sale of real estate — — 1,002 — Less: Gain on sale of investment securities, net — — — 528 *Revenues-Bank 81,411 76,208 231,850 230,599 Total interest expense 2,759 1,181 4,771 3,974 Provision for credit losses (186) (1,725) (692) (22,367) Noninterest expense 51,557 51,511 149,168 147,185 Less: Gain on sale of real estate — — 1,002 — Less: Retirement defined benefits credit—other than service costs (181) (184) (552) (1,648) *Expenses-Bank 54,311 51,151 152,797 130,440 *Operating income-Bank 27,100 25,057 79,053 100,159 Add back: Retirement defined benefits credit—other than service costs (181) (184) (552) (1,648) Add back: Gain on sale of investment securities, net — — — 528 Income before income taxes $ 27,281 $ 25,241 $ 79,605 $ 102,335 American Savings Bank, F.S.B. Balance Sheets Data (in thousands) September 30, 2022 December 31, 2021 Assets Cash and due from banks $ 143,618 $ 100,051 Interest-bearing deposits 6,179 151,189 Cash and cash equivalents 149,797 251,240 Investment securities Available-for-sale, at fair value 2,232,336 2,574,618 Held-to-maturity, at amortized cost (fair value of $411,191 and $510,474, respectively) 510,879 522,270 Stock in Federal Home Loan Bank, at cost 15,000 10,000 Loans held for investment 5,687,390 5,211,114 Allowance for credit losses (70,406) (71,130) Net loans 5,616,984 5,139,984 Loans held for sale, at lower of cost or fair value 3,101 10,404 Other 705,324 590,897 Goodwill 82,190 82,190 Total assets $ 9,315,611 $ 9,181,603 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 2,921,857 $ 2,976,632 Deposit liabilities—interest-bearing 5,337,028 5,195,580 Other borrowings 409,040 88,305 Other 198,596 193,268 Total liabilities 8,866,521 8,453,785 Common stock 1 1 Additional paid-in capital 355,293 353,895 Retained earnings 441,796 411,704 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (340,266) $ (32,037) Retirement benefit plans (7,734) (348,000) (5,745) (37,782) Total shareholder’s equity 449,090 727,818 Total liabilities and shareholder’s equity $ 9,315,611 $ 9,181,603 Other assets Bank-owned life insurance $ 181,107 $ 177,566 Premises and equipment, net 196,035 202,299 Accrued interest receivable 23,140 20,854 Mortgage-servicing rights 9,351 9,950 Low-income housing investments 110,700 110,989 Real estate acquired in settlement of loans, net 271 — Real estate held for sale 3,030 — Deferred tax asset 120,442 7,699 Other 61,248 61,540 $ 705,324 $ 590,897 Other liabilities Accrued expenses $ 94,782 $ 87,905 Cashier’s checks 36,393 33,675 Advance payments by borrowers 4,488 9,994 Other 62,933 61,694 $ 198,596 $ 193,268 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 FHLB advances of $125.0 million and nil at September 30, 2022 and December 31, 2021, respectively, and securities sold under agreements to repurchase of $284.0 million and $88.3 million at September 30, 2022 and December 31, 2021, respectively. 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 September 30, 2022 Available-for-sale U.S. Treasury and federal agency obligations $ 104,278 $ — $ (7,865) $ 96,413 16 $ 78,651 $ (5,672) 1 $ 17,762 $ (2,193) Mortgage-backed securities* 2,533,445 13 (452,503) 2,080,955 139 735,328 (110,054) 109 1,342,950 (342,449) Corporate bonds 44,412 — (4,477) 39,935 5 39,935 (4,477) — — — Mortgage revenue bonds 15,033 — — 15,033 — — — — — — $ 2,697,168 $ 13 $ (464,845) $ 2,232,336 160 $ 853,914 $ (120,203) 110 $ 1,360,712 $ (344,642) Held-to-maturity U.S. Treasury and Federal agency obligations $ 59,888 $ — $ (8,918) $ 50,970 2 $ 33,821 $ (6,106) 1 $ 17,149 $ (2,812) Mortgage-backed securities* 450,991 — (90,770) 360,221 13 91,218 (19,048) 24 269,003 (71,722) $ 510,879 $ — $ (99,688) $ 411,191 15 $ 125,039 $ (25,154) 25 $ 286,152 $ (74,534) December 31, 2021 Available-for-sale U.S. Treasury and federal agency obligations $ 89,714 $ 803 $ (427) $ 90,090 4 $ 44,827 $ (427) — $ — $ — Mortgage-backed securities* 2,482,618 6,511 (51,206) 2,437,923 120 1,845,243 (38,321) 18 271,012 (12,885) Corporate bonds 30,625 655 (102) 31,178 1 12,780 (102) — — — Mortgage revenue bonds 15,427 — — 15,427 — — — — — — $ 2,618,384 $ 7,969 $ (51,735) $ 2,574,618 125 $ 1,902,850 $ (38,850) 18 $ 271,012 $ (12,885) Held-to-maturity U.S. Treasury and Federal agency obligations $ 59,871 $ 168 $ (170) $ 59,869 2 $ 39,594 $ (170) — $ — $ — Mortgage-backed securities* 462,399 1,480 (13,274) 450,605 22 290,883 (7,665) 7 106,483 (5,609) $ 522,270 $ 1,648 $ (13,444) $ 510,474 24 $ 330,477 $ (7,835) 7 $ 106,483 $ (5,609) * 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 September 30, 2022 and December 31, 2021, 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’s investment securities portfolio did not require an allowance for credit losses at September 30, 2022 and December 31, 2021. 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: September 30, 2022 Amortized cost Fair value (in thousands) Available-for-sale Due in one year or less $ 15,239 $ 15,195 Due after one year through five years 81,842 76,442 Due after five years through ten years 66,642 59,744 Due after ten years — — 163,723 151,381 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 2,533,445 2,080,955 Total available-for-sale securities $ 2,697,168 $ 2,232,336 Held-to-maturity Due in one year or less $ — $ — Due after one year through five years — — Due after five years through ten years 59,888 50,970 Due after ten years — — 59,888 50,970 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 450,991 360,221 Total held-to-maturity securities $ 510,879 $ 411,191 The proceeds, gross gains and losses from sales of available-for-sale securities were as follows: Three months ended September 30 Nine months ended September 30 (in thousands) 2022 2021 2022 2021 Proceeds $ — $ — $ — $ 197,354 Gross gains — — — 975 Gross losses — — — 447 Tax expense on realized gains — — — 142 Transfer of available-for sale securities to held-to-maturity - subsequent event. In October 2022, ASB transferred 66 available-for-sale investment securities with a fair value of $755 million to the held-to-maturity category. On the date of transfer, these securities had a total unrealized loss of $206 million. There was no impact to net income as a result of the transfer. These transfers were executed to mitigate the potential future impact to capital through accumulated other comprehensive loss and the impact of rising rates on the market value of the investment securities. ASB believes that it maintains sufficient liquidity for future business needs and it has the positive intent and ability to hold these securities to maturity. The components of loans were summarized as follows: September 30, 2022 December 31, 2021 (in thousands) Real estate: Residential 1-4 family $ 2,392,780 $ 2,299,212 Commercial real estate 1,295,737 1,056,982 Home equity line of credit 967,153 835,663 Residential land 21,539 19,859 Commercial construction 89,185 91,080 Residential construction 20,303 11,138 Total real estate 4,786,697 4,313,934 Commercial 703,737 793,304 Consumer 216,744 113,966 Total loans 5,707,178 5,221,204 Less: Deferred fees and discounts (19,788) (10,090) Allowance for credit losses (70,406) (71,130) Total loans, net $ 5,616,984 $ 5,139,984 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 (balances and changes) 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 September 30, 2022 Allowance for credit losses: Beginning balance $ 8,520 $ 20,900 $ 6,096 $ 677 $ 2,634 $ 46 $ 12,413 $ 18,170 $ 69,456 Charge-offs — — — — — — (143) (1,503) (1,646) Recoveries 2 — 14 — — — 303 963 1,282 Provision (938) 136 (167) 12 (1,635) 3 378 3,525 1,314 Ending balance $ 7,584 $ 21,036 $ 5,943 $ 689 $ 999 $ 49 $ 12,951 $ 21,155 $ 70,406 Three months ended September 30, 2021 Allowance for credit losses: Beginning balance $ 5,518 $ 28,708 $ 5,335 $ 618 $ 1,629 $ 16 $ 20,058 $ 16,370 $ 78,252 Charge-offs (47) — (5) — — — (266) (1,597) (1,915) Recoveries 5 — 7 35 — — 417 1,118 1,582 Provision 522 (2,750) 441 (19) 104 (3) (758) 488 (1,975) Ending balance $ 5,998 $ 25,958 $ 5,778 $ 634 $ 1,733 $ 13 $ 19,451 $ 16,379 $ 75,944 Nine months ended September 30, 2022 Allowance for credit losses: Beginning balance $ 6,545 $ 24,696 $ 5,657 $ 646 $ 2,186 $ 18 $ 15,798 $ 15,584 $ 71,130 Charge-offs — — — — — — (367) (4,354) (4,721) Recoveries 13 — 56 101 — — 1,055 2,964 4,189 Provision 1,026 (3,660) 230 (58) (1,187) 31 (3,535) 6,961 (192) Ending balance $ 7,584 $ 21,036 $ 5,943 $ 689 $ 999 $ 49 $ 12,951 $ 21,155 $ 70,406 Nine months ended September 30, 2021 Allowance for credit losses: Beginning balance $ 4,600 $ 35,607 $ 6,813 $ 609 $ 4,149 $ 11 $ 25,462 $ 23,950 $ 101,201 Charge-offs (67) — (45) — — — (1,356) (6,388) (7,856) Recoveries 59 — 83 56 — — 1,056 3,312 4,566 Provision 1,406 (9,649) (1,073) (31) (2,416) 2 (5,711) (4,495) (21,967) Ending balance $ 5,998 $ 25,958 $ 5,778 $ 634 $ 1,733 $ 13 $ 19,451 $ 16,379 $ 75,944 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 September 30, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 4,100 $ 1,400 $ 5,900 Provision — (1,500) — (1,500) Ending balance $ 400 $ 2,600 $ 1,400 $ 4,400 Three months ended September 30, 2021 Allowance for loan commitments: Beginning balance $ 400 $ 2,400 $ 850 $ 3,650 Provision — 300 (50) 250 Ending balance $ 400 $ 2,700 $ 800 $ 3,900 Nine months ended September 30, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 3,700 $ 800 $ 4,900 Provision — (1,100) 600 (500) Ending balance $ 400 $ 2,600 $ 1,400 $ 4,400 Nine months ended September 30, 2021 Allowance for loan commitments: Beginning balance $ 300 $ 3,000 $ 1,000 $ 4,300 Provision 100 (300) (200) (400) Ending balance $ 400 $ 2,700 $ 800 $ 3,900 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 by vintage date based on payment activity or internally assigned grade for loans was as follows: Term Loans by Origination Year Revolving Loans (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Converted to term loans Total September 30, 2022 Residential 1-4 family Current $ 305,656 $ 761,490 $ 428,088 $ 115,625 $ 53,423 $ 720,572 $ — $ — $ 2,384,854 30-59 days past due — — — — — 1,389 — — 1,389 60-89 days past due — — — — — 2,040 — — 2,040 Greater than 89 days past due — — 267 — 809 3,421 — — 4,497 305,656 761,490 428,355 115,625 54,232 727,422 — — 2,392,780 Home equity line of credit Current — — — — — — 924,228 41,514 965,742 30-59 days past due — — — — — — 242 130 372 60-89 days past due — — — — — — 106 43 149 Greater than 89 days past due — — — — — — 427 463 890 — — — — — — 925,003 42,150 967,153 Residential land Current 5,516 9,263 5,410 338 525 390 — — 21,442 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — 97 — — 97 5,516 9,263 5,410 338 525 487 — — 21,539 Residential construction Current 6,028 11,804 2,471 — — — — — 20,303 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 6,028 11,804 2,471 — — — — — 20,303 Consumer Current 152,156 24,939 7,779 11,509 1,487 167 11,097 4,536 213,670 30-59 days past due 786 181 119 303 43 — 41 74 1,547 60-89 days past due 229 111 50 162 35 — 23 53 663 Greater than 89 days past due 128 178 69 213 61 — 68 147 864 153,299 25,409 8,017 12,187 1,626 167 11,229 4,810 216,744 Commercial real estate Pass 293,602 179,753 297,137 51,953 57,857 297,949 4,235 — 1,182,486 Special Mention — 11,250 3,467 40,838 415 27,202 — — 83,172 Substandard — — 668 11,371 1,822 16,218 — — 30,079 Doubtful — — — — — — — — — 293,602 191,003 301,272 104,162 60,094 341,369 4,235 — 1,295,737 Commercial construction Pass — 46,263 9,570 — 11,342 — 22,010 — 89,185 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — — 46,263 9,570 — 11,342 — 22,010 — 89,185 Commercial Pass 145,209 185,304 82,895 68,730 39,524 65,509 75,669 14,430 677,270 Special Mention — — 295 6,103 25 784 3,750 10 10,967 Substandard 422 2,496 143 766 1,355 4,819 4,382 1,117 15,500 Doubtful — — — — — — — — — 145,631 187,800 83,333 75,599 40,904 71,112 83,801 15,557 703,737 Total loans $ 909,732 $ 1,233,032 $ 838,428 $ 307,911 $ 168,723 $ 1,140,557 $ 1,046,278 $ 62,517 $ 5,707,178 Term Loans by Origination Year Revolving Loans (in thousands) 2021 2020 2019 2018 2017 Prior Revolving Converted to term loans Total December 31, 2021 Residential 1-4 family Current $ 791,758 $ 461,683 $ 133,345 $ 64,421 $ 124,994 $ 712,452 $ — $ — $ 2,288,653 30-59 days past due — — — 809 — 2,210 — — 3,019 60-89 days past due — — — — — 1,468 — — 1,468 Greater than 89 days past due — — 2,987 — — 3,085 — — 6,072 791,758 461,683 136,332 65,230 124,994 719,215 — — 2,299,212 Home equity line of credit Current — — — — — — 794,518 39,116 833,634 30-59 days past due — — — — — — 296 313 609 60-89 days past due — — — — — — 16 70 86 Greater than 89 days past due — — — — — — 838 496 1,334 — — — — — — 795,668 39,995 835,663 Residential land Current 10,572 6,794 1,116 532 267 181 — — 19,462 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — 397 — — 397 10,572 6,794 1,116 532 267 578 — — 19,859 Residential construction Current 7,856 3,019 — — 263 — — — 11,138 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 7,856 3,019 — — 263 — — — 11,138 Consumer Current 37,563 15,488 29,383 10,897 302 238 12,740 4,157 110,768 30-59 days past due 202 181 517 234 15 — 156 70 1,375 60-89 days past due 59 127 392 183 8 — 7 106 882 Greater than 89 days past due 14 93 387 192 27 — 141 87 941 37,838 15,889 30,679 11,506 352 238 13,044 4,420 113,966 Commercial real estate Pass 173,794 275,242 49,317 56,490 33,581 259,583 11,602 — 859,609 Special Mention 19,600 3,529 42,935 30,870 20,788 32,824 — — 150,546 Substandard — 684 13,936 1,859 1,805 28,543 — — 46,827 Doubtful — — — — — — — — — 193,394 279,455 106,188 89,219 56,174 320,950 11,602 — 1,056,982 Commercial construction Pass 17,140 43,261 — 11,342 — — 19,337 — 91,080 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 17,140 43,261 — 11,342 — — 19,337 — 91,080 Commercial Pass 266,087 96,963 79,329 56,497 31,019 66,570 96,673 15,510 708,648 Special Mention 40 27,336 10,071 202 439 8,966 15,303 18 62,375 Substandard 427 184 3,737 1,777 4,457 2,961 7,083 1,655 22,281 Doubtful — — — — — — — — — 266,554 124,483 93,137 58,476 35,915 78,497 119,059 17,183 793,304 Total loans $ 1,325,112 $ 934,584 $ 367,452 $ 236,305 $ 217,965 $ 1,119,478 $ 958,710 $ 61,598 $ 5,221,204 Revolving loans converted to term loans during the nine months ended September 30, 2022 in the commercial, home equity line of credit and consumer portfolios were $1.6 million, $12.9 million and $2.7 million, respectively. Revolving loans converted to term loans during the nine months ended September 30, 2021 in the commercial, home equity line of credit and consumer portfolios were $1.6 million, $13.6 million and $1.9 million, respectively. The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 60-89 Total Current Total Amortized cost> September 30, 2022 Real estate: Residential 1-4 family $ 1,389 $ 2,040 $ 4,497 $ 7,926 $ 2,384,854 $ 2,392,780 $ — Commercial real estate — — — — 1,295,737 1,295,737 — Home equity line of credit 372 149 890 1,411 965,742 967,153 — Residential land — — 97 97 21,442 21,539 — Commercial construction — — — — 89,185 89,185 — Residential construction — — — — 20,303 20,303 — Commercial 366 110 2,100 2,576 701,161 703,737 — Consumer 1,547 663 864 3,074 213,670 216,744 — Total loans $ 3,674 $ 2,962 $ 8,448 $ 15,084 $ 5,692,094 $ 5,707,178 $ — December 31, 2021 Real estate: Residential 1-4 family $ 3,019 $ 1,468 $ 6,072 $ 10,559 $ 2,288,653 $ 2,299,212 $ — Commercial real estate — — — — 1,056,982 1,056,982 — Home equity line of credit 609 86 1,334 2,029 833,634 835,663 — Residential land — — 397 397 19,462 19,859 — Commercial construction — — — — 91,080 91,080 — Residential construction — — — — 11,138 11,138 — Commercial 700 313 48 1,061 792,243 793,304 — Consumer 1,375 882 941 3,198 110,768 113,966 — Total loans $ 5,703 $ 2,749 $ 8,792 $ 17,244 $ 5,203,960 $ 5,221,204 $ — The credit risk profile based on nonaccrual loans were as follows: (in thousands) September 30, 2022 December 31, 2021 With a Related ACL Without a Related ACL Total With a Related ACL Without a Related ACL Total Real estate: Residential 1-4 family $ 6,125 $ 4,219 $ 10,344 $ 16,045 $ 3,703 $ 19,748 Commercial real estate — — — 14,104 1,221 15,325 Home equity line of credit 3,715 916 4,631 4,227 1,294 5,521 Residential land 312 97 409 97 300 397 Commercial construction — — — — — — Residential construction — — — — — — Commercial 2,591 811 3,402 1,446 692 2,138 Consumer 1,346 — 1,346 1,845 — 1,845 Total $ 14,089 $ 6,043 $ 20,132 $ 37,764 $ 7,210 $ 44,974 The credit risk profile based on loans whose terms have been modified and accruing interest were as follows: (in thousands) September 30, 2022 December 31, 2021 Real estate: Residential 1-4 family $ 7,671 $ 6,949 Commercial real estate 9,633 3,055 Home equity line of credit 4,814 6,021 Residential land 806 980 Commercial construction — — Residential construction — — Commercial 6,011 7,860 Consumer 51 52 Total troubled debt restructured loans accruing interest $ 28,986 $ 24,917 ASB did not recognize interest on nonaccrual loans for the nine months ended September 30, 2022 and 2021. 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. Loans modified as a TDR. Loan modifications that occurred during the three and nine months ended September 30, 2022 and 2021 were as follows: Three months ended September 30, 2022 Nine months ended September 30, 2022 (dollars in thousands) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 2 $ 512 $ — 3 $ 893 $ 135 Commercial real estate — — — — — — Home equity line of credit — — — — — — Residential land 1 204 16 1 204 16 Commercial construction — — — — — — Residential construction — — — — — — Commercial — — — 1 288 20 Consumer — — — — — — 3 $ 716 $ 16 5 $ 1,385 $ 171 Three months ended September 30, 2021 Nine months ended September 30, 2021 (dollars in thousands) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 1 $ 442 $ 81 16 $ 10,363 $ 309 Commercial real estate — — — — — — Home equity line of credit — — — — — — Residential land 1 247 11 3 802 37 Commercial construction — — — — — — Residential construction — — — — — — Commercial 1 2,386 212 7 2,678 242 Consumer — — — — — — 3 $ 3,075 $ 304 26 $ 13,843 $ 588 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. There were no loans modified in TDRs that experienced a payment default of 90 days or more during the third quarter and first nine months of 2022 and 2021. 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 September 30, 2022 and December 31, 2021. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides that a financial institution may elect to suspend the requirements under GAAP for certain loan modifications that would otherwise be categorized as a TDR and any related impairment for accounting purposes. In response to the COVID-19 pandemic, the Board of Governors of the FRB, the FDIC, the National Credit Union Administration, the OCC, and the Consumer Financial Protection Bureau, in consultation with the state financial regulators (collectively, the agencies) issued a joint interagency statement (issued March 22, 2020; revised statement issued April 7, 2020). Some of the provisions applicable to the Company include, but are not limited to accounting for loan modifications, past due reporting and nonaccrual status and charge-offs. Loan modifications that do not meet the conditions of the CARES Act may still qualify as a modification that does not need to be accounted for as a TDR. The agencies confirmed with the FASB staff that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or insignificant delays in payment. Financial institutions are not expected to designate loans with deferrals granted due to COVID-19 as past due because of the deferral. A loan’s payment date is governed by the due date stipulated in the legal agreement. If a financial institution agrees to a payment deferral, these loans would not be considered past due during the period of the deferral. Lastly, during short-term COVID-19 modifications, these loans generally should not be reported as nonaccrual or as classified. 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: Amortized cost (in thousands) September 30, 2022 December 31, 2021 Collateral type Real estate: Residential 1-4 family $ 4,699 $ 3,493 Residential real estate property Commercial real estate — 1,221 Commercial real estate property Home equity line of credit 899 1,294 Residential real estate property Residential land 97 300 Residential real estate property Total real estate 5,695 6,308 Commercial 187 692 Business assets Total $ 5,882 $ 7,000 ASB had $4.6 million and $3.4 million of mortgage loans collateralized by residential real estate property that were in the process of foreclosure at September 30, 2022 and December 31, 2021, respectively. 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 $12.1 million and $38.3 million for the three months ended September 30, 2022 and 2021, respectively, and recognized gains on such sales of $0.2 million and $1.3 million for the three months ended September 30, 2022 and 2021, respectively. ASB received proceeds from the sale of residential mortgages of $126.4 million and $304.8 million for the nine months ended September 30, 2022 and 2021, respectively, and recognized gains on such sales of $1.6 million and $7.5 million for the nine months ended September 30, 2022 and 2021, respectively. There was one repurchased mortgage loan for the three and nine months ended September 30, 2022 and no repurchased mortgage loans for the three and nine months ended September 30, 2021. Mortgage servicing fees, a component of other income, net, were $1.0 million for the three months ended September 30, 2022 and 2021, and $2.8 million for the nine months ended September 30, 2022 and 2021. Changes in the carrying value of MSRs were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net September 30, 2022 $ 19,454 $ (10,103) $ — $ 9,351 December 31, 2021 18,674 (8,724) — 9,950 Changes related to MSRs were as follows: Three months ended September 30, Nine months ended September 30 (in thousands) 2022 2021 2022 2021 Mortgage servicing rights Beginning balance $ 9,696 $ 10,754 $ 9,950 $ 10,280 Amount capitalized 117 315 1,040 2,885 Amortization (462) (797) (1,639) (2,893) Other-than-temporary impairment — — — — Carrying amount before valuation allowance 9,351 10,272 9,351 10,272 Valuation allowance for mortgage servicing rights Beginning balance — — — 260 Provision — — — (260) Other-than-temporary impairment — — — — Ending balance — — — — Net carrying value of mortgage servicing rights $ 9,351 $ 10,272 $ 9,351 $ 10,272 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 cas

Credit agreement and changes in

Credit agreement and changes in debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Credit agreement and changes in debt	Credit agreements and changes in debt On May 14, 2021, HEI and Hawaiian Electric each entered into a separate agreement with a syndicate of nine financial institutions (the HEI Facility and Hawaiian Electric Facility, respectively, and together, the Credit Facilities) to amend and restate their respective previously existing revolving unsecured credit agreements. The $175 million HEI Facility and $200 million Hawaiian Electric Facility both terminate on May 14, 2026. On February 18, 2022, the PUC approved Hawaiian Electric’s request to extend the term of the $200 million Hawaiian Electric Facility to May 14, 2026. In addition to extending the term, Hawaiian Electric also received PUC approval to exercise its options of two one-year extensions of the commitment termination date and to increase its aggregate revolving commitment amount from $200 million to $275 million, should there be a need. None of the facilities are collateralized. As of September 30, 2022 and December 31, 2021, no amounts were outstanding under the Credit Facilities. 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. Changes in debt . HEI private placement. On September 29, 2022, HEI entered into a note purchase agreement (HEI NPA) under which HEI has authorized the issue and sale of $110 million of unsecured senior notes that were drawn on November 1, 2022, as displayed in the table below. HEI Series 2022C HEI Green Series 2022D Aggregate principal amount $75 million $35 million Fixed coupon interest rate 5.43% 5.43% Maturity date 11/1/2032 11/1/2034 Proceeds from the Series 2022C tranche are expected to be used for general corporate purposes, including refinancing a portion of $150 million of maturing debt in November 2022 and to repay a portion of HEI commercial paper outstanding. Proceeds from the Green Series 2022D tranche are expected to be used to finance and/or refinance Green Investments, as defined in the HEI NPA, provided, however, that pending the full allocation of an amount equal to the proceeds from the Green Series 2022D to eligible Green Investments, the proceeds of the Green Series 2022D tranche will be managed in accordance with the Company’s normal treasury practices, including the repayment of existing indebtedness and/or used for working capital purposes. Once drawn, interest on the notes is paid semiannually on June 15th and December 15th. The HEI NPA contains certain restrictive financial covenants that are substantially the same as the financial covenants contained in HEI’s senior credit facility, as amended. The HEI notes may be prepaid in whole or in part at any time at the prepayment price of the principal amount, together with interest accrued to the date of prepayment plus a “Make-Whole Amount,” as defined in the agreements. On September 29, 2021, HEI executed a $125 million private placement, utilizing a delayed draw feature with two tranches. The first tranche of $75 million was drawn on December 29, 2021 and the proceeds were primarily used to invest in the Utilities’ equity to support its capital expenditure program and maintain a Utilities’ equity capitalization ratio of approximately 58%. The second and final tranche of $50 million was drawn on October 26, 2022, to refinance a portion of $150 million of debt that matures on November 20, 2022. HEI term loan. On October 20, 2022, HEI entered into a term loan facility in the aggregate principal amount of $100 million. The term loan facility allows HEI to draw down proceeds on a delayed basis through March 31, 2023, at which time the term loan commitment expires. Any borrowings under the facility mature on November 30, 2023. Borrowings under the facility bear interest at Term Secured Overnight Financing Rate (SOFR), as defined in the agreement, plus an applicable margin. The term loan facility contains certain restrictive financial covenants that are substantially the same as the financial covenants contained in the HEI Facility. Mahipapa loan. On July 1, 2022, Mahipapa, LLC (Mahipapa), a wholly owned subsidiary of Pacific Current, acquired Green Energy Team, LLC’s 7.5 MW renewable, firm dispatchable closed-loop biomass-to-energy facility on Kauai. In connection with the acquisition, Mahipapa assumed approximately $61 million of long-term debt in various tranches that mature on various dates through 2036. Principal and interest total approximately $1.6 million per quarter. The loan is secured by all of the assets of Mahipapa and all equity ownership interests in Mahipapa, excluding certain mobile equipment. Utilities private placement. On May 11, 2022, the Utilities executed, through a private placement pursuant to separate Note Purchase Agreements (the Note Purchase Agreements), the following unsecured senior notes bearing taxable interest (the Notes). The Notes had a delayed draw feature and the Utilities drew down all the proceeds on June 15, 2022. Series 2022A Aggregate principal amount $60 million Fixed coupon interest rate 3.7% Maturity date 6/15/2032 Principal amount by company: Hawaiian Electric $40 million Hawaii Electric Light $10 million Maui Electric $10 million The Notes include substantially the same financial covenants and customary conditions as Hawaiian Electric’s credit agreement. Hawaiian Electric is also a party as guarantor under the Note Purchase Agreements entered into by Hawaii Electric Light and Maui Electric. The Utilities did not obtain any of the proceeds at execution and instead drew down all the proceeds on June 15, 2022. The proceeds were used to finance their respective capital expenditures, repay short-term debt used to finance or refinance capital expenditures and/or reimburse funds used for the payment of capital expenditures. The Notes may be prepaid in whole or in part at any time at the prepayment price of the principal amount plus a “Make-Whole Amount.”

Shareholders' equity

Shareholders' equity	9 Months Ended
	Sep. 30, 2022
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, 2021 $ (32,037) $ (3,638) $ (16,858) $ (52,533) $ (3,280) Current period other comprehensive income (loss) (308,229) 6,561 657 (301,011) 210 Balance, September 30, 2022 $ (340,266) $ 2,923 $ (16,201) $ (353,544) $ (3,070) Balance, December 31, 2020 $ 19,986 $ (3,363) $ (17,887) $ (1,264) $ (2,919) Current period other comprehensive income (loss) (40,308) 1,009 450 (38,849) 175 Balance, September 30, 2021 $ (20,322) $ (2,354) $ (17,437) $ (40,113) $ (2,744) Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Affected line item in the Three months ended September 30 Nine months ended September 30 (in thousands) 2022 2021 2022 2021 HEI consolidated Net realized gains on securities included in net income $ — $ — $ — $ (387) Gain on sale of investment securities, net Net realized losses on derivatives qualifying as cash flow hedges 53 9 161 9 Interest expense Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 5,606 2,853 10,229 14,871 See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets (5,303) (2,799) (9,572) (14,421) See Note 9 for additional details Total reclassifications $ 356 $ 63 $ 818 $ 72 Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ 5,411 $ 2,905 $ 9,782 $ 14,596 See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets (5,303) (2,799) (9,572) (14,421) See Note 9 for additional details Total reclassifications $ 108 $ 106 $ 210 $ 175

Interest rate swaps

Interest rate swaps	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest rate swaps	Interest rate swaps The Company uses interest rate swap agreements to fix the variable interest rates on portions of its debt. The purpose of using these derivatives is to reduce the Company’s exposure to the interest rate risk associated with variable-rate borrowings. Under these agreements, the Company pays a fixed interest rate in exchange for a LIBOR- or SOFR-based variable interest rate on a given notional amount. All of the Company’s interest rate swaps are designated and accounted for as cash flow hedges. Changes in the fair value of these derivatives are reported as a component of other comprehensive income and are reclassified into earnings in the period or periods in which the hedged transaction affects earnings. For information regarding the valuation of our interest rate swaps, see Note 13, “Fair value measurements.” Notional amount Fixed interest rate Asset (liability) (in millions) at Effective date Maturity date September 30, 2022 December 31, 2021 $24.0 4.88% - 5.05% 9/1/2021 - 9/1/2022 9/1/2034 - 9/1/2035 0.7 (5.3) $13.0 2.79% 11/1/2020 10/1/2031 1.4 0.3 The asset related to the interest rate swaps as of September 30, 2022, is presented within other assets in the condensed consolidated balance sheet. The liability related to the interest rate swaps as of December 31, 2021, is presented within other liabilities. The changes in fair value of the cash flow hedges are recorded in accumulated other comprehensive income (loss) and subsequently reclassified into interest expense as interest is incurred on the related variable-rate debt. In September 2022, HEI terminated forward starting swaps with a total notional amount of $100 million, resulting in a gain of $1.7 million, which is recognized in accumulated other comprehensive income (loss). The gain will be reclassified to interest expense over the life of the related Private Placement debt. See Note 5, “Credit Agreement and changes in debt.” The following table provides the pre-tax gain (loss) of the derivative instruments in the Company's condensed consolidated statement of comprehensive income (loss) during the three and six months ended September 30, 2022 and 2021: Three months ended September 30 Nine months ended September 30 (in millions) 2022 2021 2022 2021 Gain on interest rate swaps designated as cash flow hedges recognized in other comprehensive income $ 3.5 $ 0.2 $ 8.6 $ 1.3 As of September 30, 2022, the amount the Company expects to reclassify out of net gains (losses) on derivative instruments from accumulated other comprehensive income to earnings during the next 12 months is not expected to be material.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 Nine months ended September 30, 2022 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 306,417 $ — $ — $ 306,417 $ 790,424 $ — $ — $ 790,424 Electric energy sales - commercial 309,940 — — 309,940 794,238 — — 794,238 Electric energy sales - large light and power 351,763 — — 351,763 886,733 — — 886,733 Electric energy sales - other 5,400 — — 5,400 11,699 — — 11,699 Bank fees — 12,058 — 12,058 — 36,851 — 36,851 Other sales — — 4,760 4,760 — — 7,208 7,208 Total revenues from contracts with customers 973,520 12,058 4,760 990,338 2,483,094 36,851 7,208 2,527,153 Revenues from other sources Regulatory revenue $ (26,301) $ — $ — $ (26,301) $ (24,843) $ — $ — $ (24,843) Bank interest and dividend income — 68,417 — 68,417 — 191,228 — 191,228 Other bank noninterest income — 936 — 936 — 3,771 — 3,771 Other 8,752 — 55 8,807 25,385 — 178 25,563 Total revenues from other sources (17,549) 69,353 55 51,859 542 194,999 178 195,719 Total revenues $ 955,971 $ 81,411 $ 4,815 $ 1,042,197 $ 2,483,636 $ 231,850 $ 7,386 $ 2,722,872 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 12,058 $ — $ 12,058 $ — $ 36,851 $ — $ 36,851 Services/goods transferred over time 973,520 — 4,760 978,280 2,483,094 — 7,208 2,490,302 Total revenues from contracts with customers $ 973,520 $ 12,058 $ 4,760 $ 990,338 $ 2,483,094 $ 36,851 $ 7,208 $ 2,527,153 Three months ended September 30, 2021 Nine months ended September 30, 2021 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 228,878 $ — $ — $ 228,878 $ 606,435 $ — $ — $ 606,435 Electric energy sales - commercial 217,468 — — 217,468 578,036 — — 578,036 Electric energy sales - large light and power 229,129 — — 229,129 607,480 — — 607,480 Electric energy sales - other 2,779 — — 2,779 7,470 — — 7,470 Bank fees — 11,186 — 11,186 — 34,133 — 34,133 Other sales — — 1,178 1,178 — — 3,191 3,191 Total revenues from contracts with customers 678,254 11,186 1,178 690,618 1,799,421 34,133 3,191 1,836,745 Revenues from other sources Regulatory revenue (5,717) — — (5,717) 25,566 — — 25,566 Bank interest and dividend income — 61,441 — 61,441 — 182,127 — 182,127 Other bank noninterest income — 3,581 — 3,581 — 14,339 — 14,339 Other 6,962 — 19 6,981 21,255 — 75 21,330 Total revenues from other sources 1,245 65,022 19 66,286 46,821 196,466 75 243,362 Total revenues $ 679,499 $ 76,208 $ 1,197 $ 756,904 $ 1,846,242 $ 230,599 $ 3,266 $ 2,080,107 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 11,186 $ — $ 11,186 $ — $ 34,133 $ — $ 34,133 Services/goods transferred over time 678,254 — 1,178 679,432 1,799,421 — 3,191 1,802,612 Total revenues from contracts with customers $ 678,254 $ 11,186 $ 1,178 $ 690,618 $ 1,799,421 $ 34,133 $ 3,191 $ 1,836,745 There are no material contract assets or liabilities associated with revenues from contracts with customers existing at December 31, 2021 or as of September 30, 2022. 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. As of September 30, 2022, the Company had no material remaining performance obligations due to the nature of the Company’s contracts with its customers. For the Utilities, performance obligations are fulfilled as electricity is delivered to customers. For ASB, fees are recognized when a transaction is completed.

Retirement benefits

Retirement benefits	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Retirement benefits	Retirement benefits Defined benefit pension and other postretirement benefit plans information. For the first nine months of 2022, the Company contributed $32 million ($31 million by the Utilities) to its pension and other postretirement benefit plans, compared to $39 million ($38 million by the Utilities) in the first nine months of 2021. The Company’s current estimate of total contributions to its pension and other postretirement benefit plans in 2022 is $43 million ($42 million by the Utilities), compared to $52 million ($51 million by the Utilities) in 2021. In addition, the Company expects to pay directly $3 million ($1 million by the Utilities) of benefits in 2022, compared to $1 million ($1 million by the Utilities) paid in 2021. 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 September 30 Nine months ended September 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2022 2021 2022 2021 2022 2021 2022 2021 HEI consolidated Service cost $ 18,831 $ 20,102 $ 624 $ 711 $ 58,478 $ 61,031 $ 1,937 $ 2,121 Interest cost 20,274 18,896 1,593 1,459 59,895 56,497 4,868 4,597 Expected return on plan assets (35,163) (33,022) (3,394) (3,252) (105,827) (99,157) (10,189) (9,717) Amortization of net prior period gain — — (232) (383) — — (696) (1,150) Amortization of net actuarial (gain)/losses 1 7,782 10,112 (3) (140) 20,376 20,099 (9) 158 Net periodic pension/benefit cost (return) 11,724 16,088 (1,412) (1,605) 32,922 38,470 (4,089) (3,991) Impact of PUC D&Os 8,758 4,292 1,289 1,483 27,861 20,972 3,725 3,629 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 20,482 $ 20,380 $ (123) $ (122) $ 60,783 $ 59,442 $ (364) $ (362) Hawaiian Electric consolidated Service cost $ 18,248 $ 19,610 $ 617 $ 704 $ 56,883 $ 59,597 $ 1,915 $ 2,101 Interest cost 18,850 17,614 1,525 1,398 55,773 52,676 4,670 4,406 Expected return on plan assets (33,314) (31,318) (3,343) (3,202) (100,405) (94,053) (10,035) (9,566) Amortization of net prior period gain — — (232) (383) — — (694) (1,148) Amortization of net actuarial (gain)/losses 1 7,519 9,880 — (138) 19,769 20,651 — 155 Net periodic pension/benefit cost (return) 11,303 15,786 (1,433) (1,621) 32,020 38,871 (4,144) (4,052) Impact of PUC D&Os 8,758 4,292 1,289 1,483 27,861 20,972 3,725 3,629 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 20,061 $ 20,078 $ (144) $ (138) $ 59,881 $ 59,843 $ (419) $ (423) 1 Nine months ended September 30, 2021 amounts include the one-time cumulative impact of the change in accounting principle for the plans’ fixed income securities from the calculated market-related value method to the fair value method, which was recorded in the first quarter of 2021. HEI consolidated recorded retirement benefits expense of $35 million ($34 million by the Utilities) in the first nine months of 2022 and $35 million ($35 million by the Utilities) in the first nine months of 2021 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 nine months of 2022 and 2021, 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 $6.5 million and $4.9 million, respectively, and cash contributions were $5.4 million and $4.8 million, respectively. For the first nine months of 2022 and 2021, the Utilities’ expenses and cash contributions for its defined contribution plan under the HEIRSP were $2.9 million and $2.3 million, respectively. Retirement benefit plan changes. On December 3, 2021, the Utilities’ union members ratified a new collective bargaining agreement, which included changes to retirement benefits for all new employees commencing employment on or after January 1, 2022. The changes ratified in the collective bargaining agreement apply to all employees of HEI and the Utilities first hired on or after January 1, 2022 (New Employees). New Employees are not eligible to participate in the HEI Pension Plan. Instead, New Employees will receive a non-elective employer contribution, equal to 10% of their annual compensation, subject to a vesting schedule, to their account under the HEIRSP, the defined contribution plan for HEI and the Utilities. Only New Employees are impacted by the retirement benefit plan changes. There are no retirement benefit plan changes for employees hired on or before December 31, 2021.

Share-based compensation

Share-based compensation	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022, approximately 2.8 million shares remained available for future issuance under the terms of the EIP, assuming recycling of shares withheld to satisfy statutory tax liabilities relating to EIP awards, including an estimated 0.6 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. As of September 30, 2022, there were 208,627 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 September 30 Nine months ended September 30 (in millions) 2022 2021 2022 2021 HEI consolidated Share-based compensation expense 1 $ 1.7 $ 1.3 $ 7.3 $ 6.7 Income tax benefit 0.4 0.1 1.5 1.0 Hawaiian Electric consolidated Share-based compensation expense 1 0.6 0.1 2.1 2.1 Income tax benefit 0.1 — 0.5 0.4 1 For the three and nine months ended September 30, 2022 and 2021, 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 September 30 Nine months ended September 30 (dollars in millions) 2022 2021 2022 2021 Shares granted 965 — 35,720 29,320 Fair value $ — $ — $ 1.5 $ 1.2 Income tax benefit — — 0.4 0.3 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 September 30 Nine months ended September 30 2022 2021 2022 2021 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 208,953 $ 39.71 229,775 $ 38.02 233,448 $ 38.10 193,939 $ 40.89 Granted — — 1,432 45.09 98,463 41.31 133,924 34.49 Vested (4,244) 39.49 (343) 37.83 (95,658) 37.73 (79,623) 38.51 Forfeited (16,540) 39.99 (1,074) 38.52 (48,084) 39.19 (18,450) 39.92 Outstanding, end of period 188,169 $ 39.69 229,790 $ 38.06 188,169 $ 39.69 229,790 $ 38.06 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ 0.1 $ 4.1 $ 4.6 (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 nine months ended September 30, 2022 and 2021, total restricted stock units and related dividends that vested had a fair value of $4.2 million and $3.0 million, respectively, and the related tax benefits were $0.6 million and $0.6 million, respectively. As of September 30, 2022, there was $5.3 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 1.9 years. Long-term incentive plan payable in stock. The 2020-22, 2021-23 and 2022-24 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-year period. The other performance condition goals relate to EPS growth, return on average common equity (ROACE), renewable portfolio standards, carbon emissions reduction, Hawaiian Electric’s net income growth, ASB’s efficiency ratio and strategic initiatives and Pacific Current’s EBITDA growth and return on average invested capital. LTIP linked to TSR . Information about HEI’s LTIP grants linked to TSR was as follows: Three months ended September 30 Nine months ended September 30 2022 2021 2022 2021 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 76,730 $ 47.74 91,159 $ 42.87 90,974 $ 42.86 89,222 $ 42.10 Granted — — 281 41.12 26,469 54.92 46,024 41.12 Vested (issued or unissued and cancelled) — — — — (29,042) 41.07 (32,355) 38.20 Forfeited (4,829) 48.52 (466) 42.49 (16,500) 44.33 (11,917) 43.07 Outstanding, end of period 71,901 $ 47.69 90,974 $ 42.86 71,901 $ 47.69 90,974 $ 42.86 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ — $ 1.5 $ 1.9 (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 of HEI and its peers over the remaining three-year performance period. The expected stock volatility assumptions for HEI and its peer group were based on the three-year historic stock volatility. A dividend assumption is not required for the Monte Carlo simulation because the grant payout includes dividend equivalents and projected returns include the value of reinvested dividends. 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: 2022 2021 Risk-free interest rate 1.71 % 0.19 % Expected life in years 3 3 Expected volatility 31.0 % 29.9 % Range of expected volatility for Peer Group 25.4% to 76.7% 25.6% to 102.9% Grant date fair value (per share) $54.92 $41.12 For the nine months ended September 30, 2022 and 2021, total vested LTIP awards linked to TSR and related dividends had a fair value of $0.8 million and $0.8 million, respectively, and the related tax benefits were $0.1 million and $0.2 million, respectively. As of September 30, 2022, there was $1.4 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 1.3 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 September 30 Nine months ended September 30 2022 2021 2022 2021 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 293,711 $ 39.91 316,005 $ 38.38 306,342 $ 38.42 220,715 $ 41.03 Granted — — 1,125 41.12 105,860 41.31 184,102 34.37 Vested — — — — (71,807) 37.68 (43,155) 34.12 Increase above target (cancelled) — — (22,354) 37.81 — — (21,077) 38.18 Forfeited (19,316) 38.60 (1,865) 36.77 (66,000) 37.31 (47,674) 38.74 Outstanding, end of period 274,395 $ 40.00 292,911 $ 38.45 274,395 $ 40.00 292,911 $ 38.45 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ — $ — $ 4.4 $ 6.3 (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 nine months ended September 30, 2022 and 2021, total vested LTIP awards linked to other performance conditions and related dividends had a fair value of $3.2 million and $1.7 million, respectively, and the related tax benefits were $0.4 million and $0.4 million, respectively. As of September 30, 2022, there was $4.4 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 1.4 years.

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The Company’s and the Utilities’ effective tax rates (combined federal and state income tax rates) were 21% for the nine months ended September 30, 2022. 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 2017 Tax Cuts and Jobs Act that lowered the federal income tax rate from 35% to 21% and the tax benefits derived from the low income housing tax credit investments. The Company’s and the Utilities’ effective tax rates were each 20% and 19%, respectively for the nine months ended September 30, 2021. In August 2020, the Internal Revenue Service notified the Company that its 2017 and 2018 income tax returns would be examined. The Company was previously audited every year through 2011, at which time the IRS changed their internal policies regarding audit frequency. The audit is still in progress and the Company has responded to information requests due on or before September 30, 2022. The Company has not been notified of any material audit adjustments to date. The Inflation Reduction Act of 2022 (IRA) was signed by President Biden on August 16, 2022. Key provisions under the IRA include a 15% corporate alternative minimum tax imposed on certain large corporations and the extension and expansion of clean energy tax incentives. The 15% corporate alternative minimum tax is not expected to affect the Company. The Company is in the process of evaluating the impact of the clean energy tax incentives on its businesses and is awaiting U.S. Department of the Treasury and Internal Revenue Service guidance.

Cash flows

Cash flows	9 Months Ended
	Sep. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Cash flows	Cash flows Nine months ended September 30 2022 2021 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 59 $ 61 Income taxes paid (including refundable credits) 26 34 Income taxes refunded (including refundable credits) 2 — Hawaiian Electric consolidated Interest paid to non-affiliates 40 43 Income taxes paid (including refundable credits) 46 20 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 6 5 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 34 30 Increase related to an acquisition (investing) 15 — Right-of-use assets obtained in exchange for finance lease obligations (financing) 48 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 48 44 Property, plant, equipment and other assets received in exchange for the assumption of debt associated with a business acquisition (investing) 68 — Debt, lease liabilities and other liabilities assumed in business acquisition (financing) 68 — Common stock issued (gross) for director and executive/management compensation (financing) 1 10 7 Obligations to fund low income housing investments (investing) 9 9 Loans transferred from held for investment to held for sale (investing) — 62 Hawaiian Electric consolidated Electric utility property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 6 5 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 31 27 Increase related to an acquisition (investing) 15 — Right-of-use assets obtained in exchange for finance lease obligations (financing) 48 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 44 44 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	9 Months Ended
	Sep. 30, 2022
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. Collateral dependent loans . Collateral dependent loans have been adjusted to fair value. When a loan is identified as collateral dependent, the Company measures the impairment using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals, but in some cases, the value of the collateral may be estimated as having little or no 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. If it is determined that the value of the collateral dependent loan is less than its recorded investment, the Company recognizes this impairment and adjusts the carrying value of the loan to fair value through the allowance for credit losses. 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. ASB includes MSRs within Level 3 of the valuation hierarchy. Time deposits . 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 best efforts and mandatory delivery loan sale commitments are determined using quoted prices in the market place that are observable and are classified as Level 2 measurements. Interest rate swaps . The Company measures its interest rate swaps at fair value. The fair values of the Company's interest rate swaps are based on the estimated amounts that the Company would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. The fair values of the Company's interest rate swaps are classified as a 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. Estimated fair value (in thousands) Carrying or notional amount Quoted prices in Significant Significant Total September 30, 2022 Financial assets HEI consolidated Available-for-sale investment securities $ 2,232,336 $ — $ 2,217,303 $ 15,033 $ 2,232,336 Held-to-maturity investment securities 510,879 — 411,191 — 411,191 Loans, net 5,620,085 — 3,071 5,146,554 5,149,625 Mortgage servicing rights 9,351 — — 17,244 17,244 Derivative assets 42,988 172 2,077 — 2,249 Financial liabilities HEI consolidated Deposit liabilities 499,797 — 485,755 — 485,755 Short-term borrowings—other than bank 171,125 — 171,125 — 171,125 Other bank borrowings 409,040 — 409,033 — 409,033 Long-term debt, net—other than bank 2,430,326 — 2,147,438 — 2,147,438 Derivative liabilities 4,897 — 88 — 88 Hawaiian Electric consolidated Short-term borrowings 97,450 — 97,450 — 97,450 Long-term debt, net 1,736,694 — 1,510,725 — 1,510,725 December 31, 2021 Financial assets HEI consolidated Available-for-sale investment securities $ 2,574,618 $ — $ 2,559,191 $ 15,427 $ 2,574,618 Held-to-maturity investment securities 522,270 — 510,474 — 510,474 Loans, net 5,150,388 — 10,403 5,218,121 5,228,524 Mortgage servicing rights 9,950 — — 14,480 14,480 Derivative assets 57,377 — 909 — 909 Financial liabilities HEI consolidated Deposit liabilities 423,976 — 442,361 — 442,361 Short-term borrowings—other than bank 53,998 — 53,998 — 53,998 Other bank borrowings 88,305 — 88,304 — 88,304 Long-term debt, net—other than bank 2,321,937 — 2,624,130 — 2,624,130 Derivative liabilities 57,000 11 5,271 — 5,282 Hawaiian Electric consolidated Long-term debt, net 1,676,402 — 1,955,710 — 1,955,710 Fair value measurements on a recurring basis. Assets and liabilities measured at fair value on a recurring basis were as follows: September 30, 2022 December 31, 2021 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 $ — $ 2,080,955 $ — $ — $ 2,437,923 $ — U.S. Treasury and federal agency obligations — 96,413 — — 90,090 — Corporate bonds — 39,935 — — 31,178 — Mortgage revenue bonds — — 15,033 — — 15,427 $ — $ 2,217,303 $ 15,033 $ — $ 2,559,191 $ 15,427 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 3 $ — $ — $ 638 $ — Forward commitments (bank segment) 1 172 — — — — — Interest rate swap (Other segment) 2 — 2,074 — — 271 — $ 172 $ 2,077 $ — $ — $ 909 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ 88 $ — $ — $ — $ — Forward commitments (bank segment) 1 — — — 11 — — Interest rate swap (Other segment) 2 — — — — 5,271 — $ — $ 88 $ — $ 11 $ 5,271 $ — 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 assets and 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 September 30 Nine months ended September 30 Mortgage revenue bonds 2022 2021 2022 2021 (in thousands) Beginning balance $ 15,165 $ 15,427 $ 15,427 $ 27,185 Principal payments received (132) — (394) (11,758) Purchases — — — — Unrealized gain (loss) included in other comprehensive income — — — — Ending balance $ 15,033 $ 15,427 $ 15,033 $ 15,427 Mortgage revenue bonds are 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 September 30, 2022, the weighted average discount rate was 3.89%, 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. As of September 30, 2022 and December 31, 2021, there were no financial instruments measured at fair value on a nonrecurring basis. For the nine months ended September 30, 2022 and 2021, there were no adjustments to fair value for ASB’s loans held for sale. 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)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	The 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.
Recent accounting pronouncements	Recent accounting pronouncements. Credit Losses. In March 2022, Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2022-02, “Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which eliminates the accounting guidance for Troubled Debt Restructurings (TDRs) by creditors in Subtopic 310-40, Receivables-Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance in paragraphs 310-20-35-9 through 35-11 to determine whether a modification results in a new loan or a continuation of an existing loan. The amendments in this update also require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, “Financial Instruments-Credit Losses-Measured at Amortized Cost.” Gross write-off information must be included in the vintage disclosures required for public business entities in accordance with paragraph 325-20-50-6, which requires that an entity disclose the amortized cost basis of financing receivables by credit-quality indicator and class of financing receivable by year of origination. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. ASB is assessing the requirements of the ASU.
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.
Fair value measurements	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. Collateral dependent loans . Collateral dependent loans have been adjusted to fair value. When a loan is identified as collateral dependent, the Company measures the impairment using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals, but in some cases, the value of the collateral may be estimated as having little or no 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. If it is determined that the value of the collateral dependent loan is less than its recorded investment, the Company recognizes this impairment and adjusts the carrying value of the loan to fair value through the allowance for credit losses. 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. ASB includes MSRs within Level 3 of the valuation hierarchy. Time deposits . 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 best efforts and mandatory delivery loan sale commitments are determined using quoted prices in the market place that are observable and are classified as Level 2 measurements. Interest rate swaps . The Company measures its interest rate swaps at fair value. The fair values of the Company's interest rate swaps are based on the estimated amounts that the Company would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. The fair values of the Company's interest rate swaps are classified as a Level 2 measurements.

Segment financial information (

Segment financial information (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of segment financial information	(in thousands) Electric utility Bank Other Total Three months ended September 30, 2022 Revenues from external customers $ 955,971 $ 81,411 $ 4,815 $ 1,042,197 Intersegment revenues (eliminations) — — — — Revenues $ 955,971 $ 81,411 $ 4,815 $ 1,042,197 Income (loss) before income taxes $ 63,712 $ 27,281 $ (11,088) $ 79,905 Income taxes (benefit) 13,450 6,525 (2,623) 17,352 Net income (loss) 50,262 20,756 (8,465) 62,553 Preferred stock dividends of subsidiaries 498 — (27) 471 Net income (loss) for common stock $ 49,764 $ 20,756 $ (8,438) $ 62,082 Nine months ended September 30, 2022 Revenues from external customers $ 2,483,632 $ 231,850 $ 7,390 $ 2,722,872 Intersegment revenues (eliminations) 4 — (4) — Revenues $ 2,483,636 $ 231,850 $ 7,386 $ 2,722,872 Income (loss) before income taxes $ 179,771 $ 79,605 $ (25,774) $ 233,602 Income taxes (benefit) 37,967 17,513 (7,085) 48,395 Net income (loss) 141,804 62,092 (18,689) 185,207 Preferred stock dividends of subsidiaries 1,496 — (79) 1,417 Net income (loss) for common stock $ 140,308 $ 62,092 $ (18,610) $ 183,790 Total assets (at September 30, 2022) $ 6,806,546 $ 9,315,611 $ 142,711 $ 16,264,868 Three months ended September 30, 2021 Revenues from external customers $ 679,482 $ 76,208 $ 1,214 $ 756,904 Intersegment revenues (eliminations) 17 — (17) — Revenues $ 679,499 $ 76,208 $ 1,197 $ 756,904 Income (loss) before income taxes $ 61,175 $ 25,241 $ (8,265) $ 78,151 Income taxes (benefit) 10,335 5,976 (2,046) 14,265 Net income (loss) 50,840 19,265 (6,219) 63,886 Preferred stock dividends of subsidiaries 498 — (27) 471 Net income (loss) for common stock $ 50,342 $ 19,265 $ (6,192) $ 63,415 Nine months ended September 30, 2021 Revenues from external customers $ 1,846,206 $ 230,599 $ 3,302 $ 2,080,107 Intersegment revenues (eliminations) 36 — (36) — Revenues $ 1,846,242 $ 230,599 $ 3,266 $ 2,080,107 Income (loss) before income taxes $ 170,163 $ 102,335 $ (31,207) $ 241,291 Income taxes (benefit) 33,066 23,230 (8,067) 48,229 Net income (loss) 137,097 79,105 (23,140) 193,062 Preferred stock dividends of subsidiaries 1,496 — (79) 1,417 Net income (loss) for common stock $ 135,601 $ 79,105 $ (23,061) $ 191,645 Total assets (at December 31, 2021) $ 6,491,625 $ 9,181,603 $ 149,409 $ 15,822,637

Electric utility segment (Table

Electric utility segment (Tables)	9 Months Ended
	Sep. 30, 2022
Electric Utility Subsidiary [Abstract]
Schedule of purchases from all IPPs	Purchases from all IPPs were as follows: Three months ended September 30 Nine months ended September 30 (in millions) 2022 2021 2022 2021 Kalaeloa $ 101 $ 56 $ 244 $ 142 AES Hawaii 21 32 82 98 HPOWER 18 20 56 51 Hamakua Energy 16 15 46 38 Puna Geothermal Venture 13 9 37 20 Wind IPPs 37 38 93 95 Solar IPPs 18 12 44 40 Other IPPs 1 1 4 5 7 Total IPPs $ 225 $ 186 $ 607 $ 491
Schedule of net annual incremental amounts proposed to be collected (refunded)	The Utilities fall revenue report was filed on October 31, 2022, which is subject to PUC approval. The filing reflected ARA revenues for 2023 to be collected from January 1 through December 31, 2023, as follows: (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Total 2023 ARA revenues $ 27.0 $ 6.6 $ 6.5 $ 40.1 Management Audit savings commitment (4.6) (1.0) (1.0) (6.6) Net 2023 ARA revenues $ 22.4 $ 5.6 $ 5.5 $ 33.5 The proposed net incremental amounts between the 2022 spring and fall revenue reports are as follows. The amounts are to be collected (refunded) from January 1 through December 31, 2023 under the RBA rate tariffs, which was proposed in the 2022 fall revenue report filing and is subject to PUC approval. (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Total Incremental RAM revenues and ARA revenues $ 27.0 $ 6.6 $ 6.5 $ 40.1 Annual change in accrued RBA balance through September 30, 2022 (and associated revenue taxes) $ (3.6) $ (6.7) $ (3.2) $ (13.5) Incremental Performance Incentive Mechanisms (net) 0.3 0.1 — 0.4 Incremental MPIR/EPRM Revenue Adjustment 0.3 — — 0.3 Net incremental amount to be collected under the RBA rate tariffs $ 24.0 $ — $ 3.3 $ 27.3
Schedule of condensed consolidating statements of income	Condensed Consolidating Statement of Income Three months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 693,281 130,858 131,910 — (78) $ 955,971 Expenses Fuel oil 280,447 40,540 62,615 — — 383,602 Purchased power 171,470 37,263 16,476 — — 225,209 Other operation and maintenance 77,115 21,882 22,113 — — 121,110 Depreciation 39,474 10,350 8,887 — — 58,711 Taxes, other than income taxes 64,051 12,026 12,213 — — 88,290 Total expenses 632,557 122,061 122,304 — — 876,922 Operating income 60,724 8,797 9,606 — (78) 79,049 Allowance for equity funds used during construction 2,063 206 283 — — 2,552 Equity in earnings of subsidiaries 10,577 — — — (10,577) — Retirement defined benefits credit (expense)—other than service costs 760 166 (31) — — 895 Interest expense and other charges, net (14,221) (2,716) (2,750) — 78 (19,609) Allowance for borrowed funds used during construction 674 63 88 — — 825 Income before income taxes 60,577 6,516 7,196 — (10,577) 63,712 Income taxes 10,543 1,424 1,483 — — 13,450 Net income 50,034 5,092 5,713 — (10,577) 50,262 Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income attributable to Hawaiian Electric 50,034 4,959 5,618 — (10,577) 50,034 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 49,764 4,959 5,618 — (10,577) $ 49,764 Condensed Consolidating Statement of Income Three months ended September 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 478,046 100,313 101,141 — (1) $ 679,499 Expenses Fuel oil 126,909 21,104 32,669 — — 180,682 Purchased power 136,688 31,159 17,912 — — 185,759 Other operation and maintenance 75,191 19,964 21,313 — — 116,468 Depreciation 38,912 10,050 8,424 — — 57,386 Taxes, other than income taxes 45,239 9,333 9,440 — — 64,012 Total expenses 422,939 91,610 89,758 — — 604,307 Operating income 55,107 8,703 11,383 — (1) 75,192 Allowance for equity funds used during construction 1,999 131 297 — — 2,427 Equity in earnings of subsidiaries 12,028 — — — (12,028) — Retirement defined benefits credit (expense)—other than service costs 741 166 (30) — — 877 Interest expense and other charges, net (12,943) (2,590) (2,616) — 1 (18,148) Allowance for borrowed funds used during construction 676 44 107 — — 827 Income before income taxes 57,608 6,454 9,141 — (12,028) 61,175 Income taxes 6,996 1,433 1,906 — — 10,335 Net income 50,612 5,021 7,235 — (12,028) 50,840 Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income attributable to Hawaiian Electric 50,612 4,888 7,140 — (12,028) 50,612 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 50,342 4,888 7,140 — (12,028) $ 50,342 Condensed Consolidating Statement of Income Nine months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 1,769,995 363,888 349,866 — (113) $ 2,483,636 Expenses Fuel oil 619,169 98,856 156,518 — — 874,543 Purchased power 460,855 106,710 39,262 — — 606,827 Other operation and maintenance 243,478 63,427 64,354 — — 371,259 Depreciation 118,459 31,053 26,409 — — 175,921 Taxes, other than income taxes 165,350 33,436 32,502 — — 231,288 Total expenses 1,607,311 333,482 319,045 — — 2,259,838 Operating income 162,684 30,406 30,821 — (113) 223,798 Allowance for equity funds used during construction 5,999 616 816 — — 7,431 Equity in earnings of subsidiaries 36,475 — — — (36,475) — Retirement defined benefits credit (expense)—other than service costs 2,471 500 (95) — — 2,876 Interest expense and other charges, net (40,833) (7,967) (8,048) — 113 (56,735) Allowance for borrowed funds used during construction 1,962 190 249 — — 2,401 Income before income taxes 168,758 23,745 23,743 — (36,475) 179,771 Income taxes 27,640 5,351 4,976 — — 37,967 Net income 141,118 18,394 18,767 — (36,475) 141,804 Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income attributable to Hawaiian Electric 141,118 17,994 18,481 — (36,475) 141,118 Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income for common stock $ 140,308 17,994 18,481 — (36,475) $ 140,308 Condensed Consolidating Statement of Income Nine months ended September 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 1,301,297 276,974 267,992 — (21) $ 1,846,242 Expenses Fuel oil 306,982 57,175 83,088 — — 447,245 Purchased power 370,240 76,992 43,288 — — 490,520 Other operation and maintenance 230,429 57,350 61,401 — — 349,180 Depreciation 116,733 30,151 25,238 — — 172,122 Taxes, other than income taxes 124,167 25,865 25,153 — — 175,185 Total expenses 1,148,551 247,533 238,168 — — 1,634,252 Operating income 152,746 29,441 29,824 — (21) 211,990 Allowance for equity funds used during construction 5,677 403 915 — — 6,995 Equity in earnings of subsidiaries 35,282 — — — (35,282) — Retirement defined benefits credit (expense)—other than service costs 2,511 503 (96) — — 2,918 Interest expense and other charges, net (38,604) (7,744) (7,799) — 21 (54,126) Allowance for borrowed funds used during construction 1,921 136 329 — — 2,386 Income before income taxes 159,533 22,739 23,173 — (35,282) 170,163 Income taxes 23,122 5,152 4,792 — — 33,066 Net income 136,411 17,587 18,381 — (35,282) 137,097 Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income attributable to Hawaiian Electric 136,411 17,187 18,095 — (35,282) 136,411 Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income for common stock $ 135,601 17,187 18,095 — (35,282) $ 135,601 Statements of Income and Comprehensive Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income Interest and fees on loans $ 53,365 $ 49,445 $ 147,499 $ 150,418 Interest and dividends on investment securities 15,052 11,996 43,729 31,709 Total interest and dividend income 68,417 61,441 191,228 182,127 Interest expense Interest on deposit liabilities 1,704 1,176 3,572 3,919 Interest on other borrowings 1,055 5 1,199 55 Total interest expense 2,759 1,181 4,771 3,974 Net interest income 65,658 60,260 186,457 178,153 Provision for credit losses (186) (1,725) (692) (22,367) Net interest income after provision for credit losses 65,844 61,985 187,149 200,520 Noninterest income Fees from other financial services 4,763 4,800 15,066 15,337 Fee income on deposit liabilities 4,879 4,262 14,122 12,029 Fee income on other financial products 2,416 2,124 7,663 6,767 Bank-owned life insurance 122 2,026 661 6,211 Mortgage banking income 181 1,272 1,630 7,497 Gain on sale of real estate — — 1,002 — Gain on sale of investment securities, net — — — 528 Other income, net 633 283 1,480 631 Total noninterest income 12,994 14,767 41,624 49,000 Noninterest expense Compensation and employee benefits 28,597 30,888 83,478 86,595 Occupancy 5,577 5,157 16,996 15,226 Data processing 4,509 4,278 13,144 13,162 Services 2,751 2,272 7,712 7,609 Equipment 2,432 2,373 7,163 6,989 Office supplies, printing and postage 1,123 1,072 3,256 3,094 Marketing 925 995 2,877 2,308 FDIC insurance 914 808 2,613 2,412 Other expense 4,729 3,668 11,929 9,790 Total noninterest expense 51,557 51,511 149,168 147,185 Income before income taxes 27,281 25,241 79,605 102,335 Income taxes 6,525 5,976 17,513 23,230 Net income 20,756 19,265 62,092 79,105 Other comprehensive loss, net of taxes (98,942) (11,684) (310,218) (40,439) Comprehensive income (loss) $ (78,186) $ 7,581 $ (248,126) $ 38,666 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income $ 68,417 $ 61,441 $ 191,228 $ 182,127 Noninterest income 12,994 14,767 41,624 49,000 Less: Gain on sale of real estate — — 1,002 — Less: Gain on sale of investment securities, net — — — 528 *Revenues-Bank 81,411 76,208 231,850 230,599 Total interest expense 2,759 1,181 4,771 3,974 Provision for credit losses (186) (1,725) (692) (22,367) Noninterest expense 51,557 51,511 149,168 147,185 Less: Gain on sale of real estate — — 1,002 — Less: Retirement defined benefits credit—other than service costs (181) (184) (552) (1,648) *Expenses-Bank 54,311 51,151 152,797 130,440 *Operating income-Bank 27,100 25,057 79,053 100,159 Add back: Retirement defined benefits credit—other than service costs (181) (184) (552) (1,648) Add back: Gain on sale of investment securities, net — — — 528 Income before income taxes $ 27,281 $ 25,241 $ 79,605 $ 102,335
Schedule of condensed consolidating statement of comprehensive income	Condensed Consolidating Statement of Comprehensive Income Three months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net income for common stock $ 49,764 4,959 5,618 — (10,577) $ 49,764 Other comprehensive income, 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 taxes 5,411 768 732 — (1,500) 5,411 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (5,303) (766) (733) — 1,499 (5,303) Other comprehensive income, net of taxes 108 2 (1) — (1) 108 Comprehensive income attributable to common shareholder $ 49,872 4,961 5,617 — (10,578) $ 49,872 Condensed Consolidating Statement of Comprehensive Income Three months ended September 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net income for common stock $ 50,342 4,888 7,140 — (12,028) $ 50,342 Other comprehensive income, 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 taxes 2,905 393 393 — (786) 2,905 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (2,799) (391) (393) — 784 (2,799) Other comprehensive income, net of taxes 106 2 — — (2) 106 Comprehensive income attributable to common shareholder $ 50,448 4,890 7,140 — (12,030) $ 50,448 Condensed Consolidating Statement of Comprehensive Income Nine months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Net income for common stock $ 140,308 17,994 18,481 — (36,475) $ 140,308 Other comprehensive income, 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 taxes 9,782 1,366 1,938 (3,304) 9,782 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (9,572) (1,362) (1,938) 3,300 (9,572) Other comprehensive income, net of taxes 210 4 — — (4) 210 Comprehensive income attributable to common shareholder $ 140,518 17,998 18,481 — (36,479) $ 140,518 Condensed Consolidating Statement of Comprehensive Income Nine months ended September 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Net income for common stock $ 135,601 17,187 18,095 — (35,282) $ 135,601 Other comprehensive income, 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 taxes 14,596 2,062 1,915 — (3,977) 14,596 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (14,421) (2,059) (1,915) — 3,974 (14,421) Other comprehensive income, net of taxes 175 3 — — (3) 175 Comprehensive income attributable to common shareholder $ 135,776 17,190 18,095 — (35,285) $ 135,776
Schedule of condensed consolidating balance sheet	Condensed Consolidating Balance Sheet September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,860 5,606 3,594 — — $ 52,060 Plant and equipment 5,218,701 1,403,784 1,268,441 — — 7,890,926 Right-of-use assets - finance lease 48,371 — — — — 48,371 Less accumulated depreciation (1,845,767) (640,257) (581,618) — — (3,067,642) Construction in progress 197,033 25,671 34,878 — — 257,582 Utility property, plant and equipment, net 3,661,198 794,804 725,295 — — 5,181,297 Nonutility property, plant and equipment, less accumulated depreciation 5,300 114 1,532 — — 6,946 Total property, plant and equipment, net 3,666,498 794,918 726,827 — — 5,188,243 Investment in wholly owned subsidiaries, at equity 689,016 — — — (689,016) — Current assets Cash and cash equivalents 13,295 5,154 2,778 77 — 21,304 Advances to affiliates — 1,500 16,000 — (17,500) — Customer accounts receivable, net 181,813 40,566 36,593 — — 258,972 Accrued unbilled revenues, net 167,037 26,508 26,875 — — 220,420 Other accounts receivable, net 26,795 4,615 4,691 — (20,609) 15,492 Fuel oil stock, at average cost 184,981 20,817 23,927 — — 229,725 Materials and supplies, at average cost 45,405 10,621 21,553 — — 77,579 Prepayments and other 33,628 6,731 6,611 — (1,172) 45,798 Regulatory assets 50,074 2,397 3,435 — — 55,906 Total current assets 703,028 118,909 142,463 77 (39,281) 925,196 Other long-term assets Operating lease right-of-use assets 44,802 35,953 12,954 — — 93,709 Regulatory assets 298,759 73,845 68,678 — — 441,282 Other 119,348 18,831 20,233 — (296) 158,116 Total other long-term assets 462,909 128,629 101,865 — (296) 693,107 Total assets $ 5,521,451 1,042,456 971,155 77 (728,593) $ 6,806,546 Capitalization and liabilities Capitalization Common stock equity $ 2,307,992 338,598 350,341 77 (689,016) $ 2,307,992 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,176,814 244,417 263,468 — — 1,684,699 Total capitalization 3,507,099 590,015 618,809 77 (689,016) 4,026,984 Current liabilities Current portion of operating lease liabilities 9,371 6,611 2,590 — — 18,572 Current portion of long-term debt 39,996 11,999 — — — 51,995 Short-term borrowings from non-affiliates 97,450 — — — — 97,450 Short-term borrowings from affiliate 17,500 — — — (17,500) — Accounts payable 117,259 26,043 22,159 — — 165,461 Interest and preferred dividends payable 20,800 3,822 4,583 — (41) 29,164 Taxes accrued, including revenue taxes 181,935 39,023 36,557 — (1,172) 256,343 Regulatory liabilities 15,349 6,451 7,518 — — 29,318 Other 62,303 18,022 20,188 — (20,725) 79,788 Total current liabilities 561,963 111,971 93,595 — (39,438) 728,091 Deferred credits and other liabilities Operating lease liabilities 43,275 29,517 10,519 — — 83,311 Finance lease liabilities 46,468 — — — — 46,468 Deferred income taxes 278,230 50,774 63,172 — — 392,176 Regulatory liabilities 725,346 183,073 92,639 — — 1,001,058 Unamortized tax credits 71,916 13,354 12,731 — — 98,001 Defined benefit pension and other postretirement benefit plans liability 211,560 46,584 50,128 — (139) 308,133 Other 75,594 17,168 29,562 — 122,324 Total deferred credits and other liabilities 1,452,389 340,470 258,751 — (139) 2,051,471 Total capitalization and liabilities $ 5,521,451 1,042,456 971,155 77 (728,593) $ 6,806,546 Condensed Consolidating Balance Sheet December 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,737 5,606 3,594 — — $ 51,937 Plant and equipment 5,097,033 1,390,361 1,248,589 — — 7,735,983 Less accumulated depreciation (1,757,096) (619,991) (563,430) — — (2,940,517) Construction in progress 159,854 17,129 27,586 — — 204,569 Utility property, plant and equipment, net 3,542,528 793,105 716,339 — — 5,051,972 Nonutility property, plant and equipment, less accumulated depreciation 5,302 115 1,532 — — 6,949 Total property, plant and equipment, net 3,547,830 793,220 717,871 — — 5,058,921 Investment in wholly owned subsidiaries, at equity 676,237 — — — (676,237) — Current assets Cash and cash equivalents 23,344 5,326 23,422 77 — 52,169 Restricted cash 3,089 — — — — 3,089 Advances to affiliates 1,000 — — — (1,000) — Customer accounts receivable, net 135,949 28,469 22,441 — — 186,859 Accrued unbilled revenues, net 92,469 19,529 17,157 — — 129,155 Other accounts receivable, net 18,624 3,347 3,031 — (17,735) 7,267 Fuel oil stock, at average cost 71,184 12,814 20,080 — — 104,078 Materials and supplies, at average cost 42,006 9,727 20,144 — — 71,877 Prepayments and other 32,140 6,052 7,114 — 725 46,031 Regulatory assets 58,695 3,051 4,918 — — 66,664 Total current assets 478,500 88,315 118,307 77 (18,010) 667,189 Other long-term assets Operating lease right-of-use assets 78,710 22,442 318 — — 101,470 Regulatory assets 337,903 81,645 79,331 — — 498,879 Other 130,546 17,124 18,510 — (1,014) 165,166 Total other long-term assets 547,159 121,211 98,159 — (1,014) 765,515 Total assets $ 5,249,726 1,002,746 934,337 77 (695,261) $ 6,491,625 Capitalization and liabilities Capitalization Common stock equity $ 2,261,899 332,900 343,260 77 (676,237) $ 2,261,899 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,136,620 234,390 253,417 — — 1,624,427 Total capitalization 3,420,812 574,290 601,677 77 (676,237) 3,920,619 Current liabilities Current portion of operating lease liabilities 45,955 3,378 35 — — 49,368 Current portion of long-term debt 39,981 11,994 — — — 51,975 Short-term borrowings-affiliate — 1,000 — — (1,000) — Accounts payable 111,024 26,139 22,844 — — 160,007 Interest and preferred dividends payable 12,442 2,617 2,269 — (3) 17,325 Taxes accrued, including revenue taxes 143,723 33,153 30,679 — 725 208,280 Regulatory liabilities 22,240 3,247 4,273 — — 29,760 Other 56,752 14,158 18,540 — (17,881) 71,569 Total current liabilities 432,117 95,686 78,640 — (18,159) 588,284 Deferred credits and other liabilities Operating lease liabilities 46,426 19,063 291 — — 65,780 Deferred income taxes 291,027 53,298 64,309 — — 408,634 Regulatory liabilities 695,152 179,267 92,589 — — 967,008 Unamortized tax credits 76,201 14,212 13,532 — — 103,945 Defined benefit pension and other postretirement benefit plans liability 220,480 48,900 53,257 — (857) 321,780 Other 67,511 18,030 30,042 — (8) 115,575 Total deferred credits and other liabilities 1,396,797 332,770 254,020 — (865) 1,982,722 Total capitalization and liabilities $ 5,249,726 1,002,746 934,337 77 (695,261) $ 6,491,625 Balance Sheets Data (in thousands) September 30, 2022 December 31, 2021 Assets Cash and due from banks $ 143,618 $ 100,051 Interest-bearing deposits 6,179 151,189 Cash and cash equivalents 149,797 251,240 Investment securities Available-for-sale, at fair value 2,232,336 2,574,618 Held-to-maturity, at amortized cost (fair value of $411,191 and $510,474, respectively) 510,879 522,270 Stock in Federal Home Loan Bank, at cost 15,000 10,000 Loans held for investment 5,687,390 5,211,114 Allowance for credit losses (70,406) (71,130) Net loans 5,616,984 5,139,984 Loans held for sale, at lower of cost or fair value 3,101 10,404 Other 705,324 590,897 Goodwill 82,190 82,190 Total assets $ 9,315,611 $ 9,181,603 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 2,921,857 $ 2,976,632 Deposit liabilities—interest-bearing 5,337,028 5,195,580 Other borrowings 409,040 88,305 Other 198,596 193,268 Total liabilities 8,866,521 8,453,785 Common stock 1 1 Additional paid-in capital 355,293 353,895 Retained earnings 441,796 411,704 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (340,266) $ (32,037) Retirement benefit plans (7,734) (348,000) (5,745) (37,782) Total shareholder’s equity 449,090 727,818 Total liabilities and shareholder’s equity $ 9,315,611 $ 9,181,603 Other assets Bank-owned life insurance $ 181,107 $ 177,566 Premises and equipment, net 196,035 202,299 Accrued interest receivable 23,140 20,854 Mortgage-servicing rights 9,351 9,950 Low-income housing investments 110,700 110,989 Real estate acquired in settlement of loans, net 271 — Real estate held for sale 3,030 — Deferred tax asset 120,442 7,699 Other 61,248 61,540 $ 705,324 $ 590,897 Other liabilities Accrued expenses $ 94,782 $ 87,905 Cashier’s checks 36,393 33,675 Advance payments by borrowers 4,488 9,994 Other 62,933 61,694 $ 198,596 $ 193,268
Schedule of condensed consolidating statement of changes in common stock equity	Condensed Consolidating Statement of Changes in Common Stock Equity Nine months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Balance, December 31, 2021 $ 2,261,899 332,900 343,260 77 (676,237) $ 2,261,899 Net income for common stock 140,308 17,994 18,481 — (36,475) 140,308 Other comprehensive income, net of taxes 210 4 — — (4) 210 Common stock dividends (94,425) (12,300) (11,400) — 23,700 (94,425) Balance, September 30, 2022 $ 2,307,992 338,598 350,341 77 (689,016) $ 2,307,992 Condensed Consolidating Statement of Changes in Common Stock Equity Nine months ended September 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Balance, December 31, 2020 $ 2,141,918 317,451 309,363 77 (626,891) $ 2,141,918 Net income for common stock 135,601 17,187 18,095 — (35,282) 135,601 Other comprehensive income, net of taxes 175 3 — — (3) 175 Common stock dividends (83,775) (10,950) (11,326) — 22,276 (83,775) Balance, September 30, 2021 $ 2,193,919 323,691 316,132 77 (639,900) $ 2,193,919
Schedule of condensed consolidating statement of cash flows	Condensed Consolidating Statement of Cash Flows Nine months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net cash provided by operating activities $ 74,053 38,302 35,512 — (23,700) $ 124,167 Cash flows from investing activities Capital expenditures (152,015) (34,055) (39,806) — — (225,876) Advances to affiliates 1,000 (1,500) (16,000) — 16,500 — Other 4,545 825 1,380 — — 6,750 Net cash used in investing activities (146,470) (34,730) (54,426) — 16,500 (219,126) Cash flows from financing activities Common stock dividends (94,425) (12,300) (11,400) — 23,700 (94,425) Preferred stock dividends of Hawaiian Electric and subsidiaries (810) (400) (286) — — (1,496) Proceeds from issuance of long-term debt 40,000 10,000 10,000 — — 60,000 Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less 114,950 (1,000) — — (16,500) 97,450 Payments of obligations under finance leases (266) — — — — (266) Other (170) (44) (44) — — (258) Net cash provided by financing activities 59,279 (3,744) (1,730) — 7,200 61,005 Net decrease in cash and cash equivalents (13,138) (172) (20,644) — — (33,954) Cash and cash equivalents, beginning of period 26,433 5,326 23,422 77 — 55,258 Cash and cash equivalents, end of period $ 13,295 5,154 2,778 77 — $ 21,304 Condensed Consolidating Statement of Cash Flows Nine months ended September 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net cash provided by operating activities $ 157,191 32,698 30,643 — (22,276) $ 198,256 Cash flows from investing activities Capital expenditures (137,916) (33,511) (32,319) — — (203,746) Advances from affiliates 26,000 — — — (26,000) — Other 4,136 1,121 900 — — 6,157 Net cash used in investing activities (107,780) (32,390) (31,419) — (26,000) (197,589) Cash flows from financing activities Common stock dividends (83,775) (10,950) (11,326) — 22,276 (83,775) Preferred stock dividends of Hawaiian Electric and subsidiaries (810) (400) (286) — — (1,496) Repayment of short-term debt (50,000) — — — — (50,000) Proceeds from issuance of long-term debt 60,000 30,000 25,000 — — 115,000 Net decrease in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less — (18,100) (7,900) — 26,000 — Other (703) (116) (123) — — (942) Net cash provided by (used in) financing activities (75,288) 434 5,365 — 48,276 (21,213) Net increase (decrease) in cash, cash equivalents and restricted cash (25,877) 742 4,589 — — (20,546) Cash, cash equivalents and restricted cash, beginning of period 58,171 3,046 2,032 77 — 63,326 Cash, cash equivalents and restricted cash, end of period 32,294 3,788 6,621 77 — 42,780 Less: Restricted cash (6,313) — — — — (6,313) Cash and cash equivalents, end of period $ 25,981 3,788 6,621 77 — $ 36,467

Bank segment (Tables)

Bank segment (Tables)	9 Months Ended
	Sep. 30, 2022
Bank Subsidiary [Abstract]
Schedule of statements of income data	Condensed Consolidating Statement of Income Three months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 693,281 130,858 131,910 — (78) $ 955,971 Expenses Fuel oil 280,447 40,540 62,615 — — 383,602 Purchased power 171,470 37,263 16,476 — — 225,209 Other operation and maintenance 77,115 21,882 22,113 — — 121,110 Depreciation 39,474 10,350 8,887 — — 58,711 Taxes, other than income taxes 64,051 12,026 12,213 — — 88,290 Total expenses 632,557 122,061 122,304 — — 876,922 Operating income 60,724 8,797 9,606 — (78) 79,049 Allowance for equity funds used during construction 2,063 206 283 — — 2,552 Equity in earnings of subsidiaries 10,577 — — — (10,577) — Retirement defined benefits credit (expense)—other than service costs 760 166 (31) — — 895 Interest expense and other charges, net (14,221) (2,716) (2,750) — 78 (19,609) Allowance for borrowed funds used during construction 674 63 88 — — 825 Income before income taxes 60,577 6,516 7,196 — (10,577) 63,712 Income taxes 10,543 1,424 1,483 — — 13,450 Net income 50,034 5,092 5,713 — (10,577) 50,262 Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income attributable to Hawaiian Electric 50,034 4,959 5,618 — (10,577) 50,034 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 49,764 4,959 5,618 — (10,577) $ 49,764 Condensed Consolidating Statement of Income Three months ended September 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Revenues $ 478,046 100,313 101,141 — (1) $ 679,499 Expenses Fuel oil 126,909 21,104 32,669 — — 180,682 Purchased power 136,688 31,159 17,912 — — 185,759 Other operation and maintenance 75,191 19,964 21,313 — — 116,468 Depreciation 38,912 10,050 8,424 — — 57,386 Taxes, other than income taxes 45,239 9,333 9,440 — — 64,012 Total expenses 422,939 91,610 89,758 — — 604,307 Operating income 55,107 8,703 11,383 — (1) 75,192 Allowance for equity funds used during construction 1,999 131 297 — — 2,427 Equity in earnings of subsidiaries 12,028 — — — (12,028) — Retirement defined benefits credit (expense)—other than service costs 741 166 (30) — — 877 Interest expense and other charges, net (12,943) (2,590) (2,616) — 1 (18,148) Allowance for borrowed funds used during construction 676 44 107 — — 827 Income before income taxes 57,608 6,454 9,141 — (12,028) 61,175 Income taxes 6,996 1,433 1,906 — — 10,335 Net income 50,612 5,021 7,235 — (12,028) 50,840 Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income attributable to Hawaiian Electric 50,612 4,888 7,140 — (12,028) 50,612 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 50,342 4,888 7,140 — (12,028) $ 50,342 Condensed Consolidating Statement of Income Nine months ended September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 1,769,995 363,888 349,866 — (113) $ 2,483,636 Expenses Fuel oil 619,169 98,856 156,518 — — 874,543 Purchased power 460,855 106,710 39,262 — — 606,827 Other operation and maintenance 243,478 63,427 64,354 — — 371,259 Depreciation 118,459 31,053 26,409 — — 175,921 Taxes, other than income taxes 165,350 33,436 32,502 — — 231,288 Total expenses 1,607,311 333,482 319,045 — — 2,259,838 Operating income 162,684 30,406 30,821 — (113) 223,798 Allowance for equity funds used during construction 5,999 616 816 — — 7,431 Equity in earnings of subsidiaries 36,475 — — — (36,475) — Retirement defined benefits credit (expense)—other than service costs 2,471 500 (95) — — 2,876 Interest expense and other charges, net (40,833) (7,967) (8,048) — 113 (56,735) Allowance for borrowed funds used during construction 1,962 190 249 — — 2,401 Income before income taxes 168,758 23,745 23,743 — (36,475) 179,771 Income taxes 27,640 5,351 4,976 — — 37,967 Net income 141,118 18,394 18,767 — (36,475) 141,804 Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income attributable to Hawaiian Electric 141,118 17,994 18,481 — (36,475) 141,118 Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income for common stock $ 140,308 17,994 18,481 — (36,475) $ 140,308 Condensed Consolidating Statement of Income Nine months ended September 30, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 1,301,297 276,974 267,992 — (21) $ 1,846,242 Expenses Fuel oil 306,982 57,175 83,088 — — 447,245 Purchased power 370,240 76,992 43,288 — — 490,520 Other operation and maintenance 230,429 57,350 61,401 — — 349,180 Depreciation 116,733 30,151 25,238 — — 172,122 Taxes, other than income taxes 124,167 25,865 25,153 — — 175,185 Total expenses 1,148,551 247,533 238,168 — — 1,634,252 Operating income 152,746 29,441 29,824 — (21) 211,990 Allowance for equity funds used during construction 5,677 403 915 — — 6,995 Equity in earnings of subsidiaries 35,282 — — — (35,282) — Retirement defined benefits credit (expense)—other than service costs 2,511 503 (96) — — 2,918 Interest expense and other charges, net (38,604) (7,744) (7,799) — 21 (54,126) Allowance for borrowed funds used during construction 1,921 136 329 — — 2,386 Income before income taxes 159,533 22,739 23,173 — (35,282) 170,163 Income taxes 23,122 5,152 4,792 — — 33,066 Net income 136,411 17,587 18,381 — (35,282) 137,097 Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income attributable to Hawaiian Electric 136,411 17,187 18,095 — (35,282) 136,411 Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income for common stock $ 135,601 17,187 18,095 — (35,282) $ 135,601 Statements of Income and Comprehensive Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income Interest and fees on loans $ 53,365 $ 49,445 $ 147,499 $ 150,418 Interest and dividends on investment securities 15,052 11,996 43,729 31,709 Total interest and dividend income 68,417 61,441 191,228 182,127 Interest expense Interest on deposit liabilities 1,704 1,176 3,572 3,919 Interest on other borrowings 1,055 5 1,199 55 Total interest expense 2,759 1,181 4,771 3,974 Net interest income 65,658 60,260 186,457 178,153 Provision for credit losses (186) (1,725) (692) (22,367) Net interest income after provision for credit losses 65,844 61,985 187,149 200,520 Noninterest income Fees from other financial services 4,763 4,800 15,066 15,337 Fee income on deposit liabilities 4,879 4,262 14,122 12,029 Fee income on other financial products 2,416 2,124 7,663 6,767 Bank-owned life insurance 122 2,026 661 6,211 Mortgage banking income 181 1,272 1,630 7,497 Gain on sale of real estate — — 1,002 — Gain on sale of investment securities, net — — — 528 Other income, net 633 283 1,480 631 Total noninterest income 12,994 14,767 41,624 49,000 Noninterest expense Compensation and employee benefits 28,597 30,888 83,478 86,595 Occupancy 5,577 5,157 16,996 15,226 Data processing 4,509 4,278 13,144 13,162 Services 2,751 2,272 7,712 7,609 Equipment 2,432 2,373 7,163 6,989 Office supplies, printing and postage 1,123 1,072 3,256 3,094 Marketing 925 995 2,877 2,308 FDIC insurance 914 808 2,613 2,412 Other expense 4,729 3,668 11,929 9,790 Total noninterest expense 51,557 51,511 149,168 147,185 Income before income taxes 27,281 25,241 79,605 102,335 Income taxes 6,525 5,976 17,513 23,230 Net income 20,756 19,265 62,092 79,105 Other comprehensive loss, net of taxes (98,942) (11,684) (310,218) (40,439) Comprehensive income (loss) $ (78,186) $ 7,581 $ (248,126) $ 38,666 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income $ 68,417 $ 61,441 $ 191,228 $ 182,127 Noninterest income 12,994 14,767 41,624 49,000 Less: Gain on sale of real estate — — 1,002 — Less: Gain on sale of investment securities, net — — — 528 *Revenues-Bank 81,411 76,208 231,850 230,599 Total interest expense 2,759 1,181 4,771 3,974 Provision for credit losses (186) (1,725) (692) (22,367) Noninterest expense 51,557 51,511 149,168 147,185 Less: Gain on sale of real estate — — 1,002 — Less: Retirement defined benefits credit—other than service costs (181) (184) (552) (1,648) *Expenses-Bank 54,311 51,151 152,797 130,440 *Operating income-Bank 27,100 25,057 79,053 100,159 Add back: Retirement defined benefits credit—other than service costs (181) (184) (552) (1,648) Add back: Gain on sale of investment securities, net — — — 528 Income before income taxes $ 27,281 $ 25,241 $ 79,605 $ 102,335
Schedule of statements of comprehensive income data	Statements of Income and Comprehensive Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income Interest and fees on loans $ 53,365 $ 49,445 $ 147,499 $ 150,418 Interest and dividends on investment securities 15,052 11,996 43,729 31,709 Total interest and dividend income 68,417 61,441 191,228 182,127 Interest expense Interest on deposit liabilities 1,704 1,176 3,572 3,919 Interest on other borrowings 1,055 5 1,199 55 Total interest expense 2,759 1,181 4,771 3,974 Net interest income 65,658 60,260 186,457 178,153 Provision for credit losses (186) (1,725) (692) (22,367) Net interest income after provision for credit losses 65,844 61,985 187,149 200,520 Noninterest income Fees from other financial services 4,763 4,800 15,066 15,337 Fee income on deposit liabilities 4,879 4,262 14,122 12,029 Fee income on other financial products 2,416 2,124 7,663 6,767 Bank-owned life insurance 122 2,026 661 6,211 Mortgage banking income 181 1,272 1,630 7,497 Gain on sale of real estate — — 1,002 — Gain on sale of investment securities, net — — — 528 Other income, net 633 283 1,480 631 Total noninterest income 12,994 14,767 41,624 49,000 Noninterest expense Compensation and employee benefits 28,597 30,888 83,478 86,595 Occupancy 5,577 5,157 16,996 15,226 Data processing 4,509 4,278 13,144 13,162 Services 2,751 2,272 7,712 7,609 Equipment 2,432 2,373 7,163 6,989 Office supplies, printing and postage 1,123 1,072 3,256 3,094 Marketing 925 995 2,877 2,308 FDIC insurance 914 808 2,613 2,412 Other expense 4,729 3,668 11,929 9,790 Total noninterest expense 51,557 51,511 149,168 147,185 Income before income taxes 27,281 25,241 79,605 102,335 Income taxes 6,525 5,976 17,513 23,230 Net income 20,756 19,265 62,092 79,105 Other comprehensive loss, net of taxes (98,942) (11,684) (310,218) (40,439) Comprehensive income (loss) $ (78,186) $ 7,581 $ (248,126) $ 38,666 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2022 2021 2022 2021 Interest and dividend income $ 68,417 $ 61,441 $ 191,228 $ 182,127 Noninterest income 12,994 14,767 41,624 49,000 Less: Gain on sale of real estate — — 1,002 — Less: Gain on sale of investment securities, net — — — 528 *Revenues-Bank 81,411 76,208 231,850 230,599 Total interest expense 2,759 1,181 4,771 3,974 Provision for credit losses (186) (1,725) (692) (22,367) Noninterest expense 51,557 51,511 149,168 147,185 Less: Gain on sale of real estate — — 1,002 — Less: Retirement defined benefits credit—other than service costs (181) (184) (552) (1,648) *Expenses-Bank 54,311 51,151 152,797 130,440 *Operating income-Bank 27,100 25,057 79,053 100,159 Add back: Retirement defined benefits credit—other than service costs (181) (184) (552) (1,648) Add back: Gain on sale of investment securities, net — — — 528 Income before income taxes $ 27,281 $ 25,241 $ 79,605 $ 102,335
Schedule of balance sheets data	Condensed Consolidating Balance Sheet September 30, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,860 5,606 3,594 — — $ 52,060 Plant and equipment 5,218,701 1,403,784 1,268,441 — — 7,890,926 Right-of-use assets - finance lease 48,371 — — — — 48,371 Less accumulated depreciation (1,845,767) (640,257) (581,618) — — (3,067,642) Construction in progress 197,033 25,671 34,878 — — 257,582 Utility property, plant and equipment, net 3,661,198 794,804 725,295 — — 5,181,297 Nonutility property, plant and equipment, less accumulated depreciation 5,300 114 1,532 — — 6,946 Total property, plant and equipment, net 3,666,498 794,918 726,827 — — 5,188,243 Investment in wholly owned subsidiaries, at equity 689,016 — — — (689,016) — Current assets Cash and cash equivalents 13,295 5,154 2,778 77 — 21,304 Advances to affiliates — 1,500 16,000 — (17,500) — Customer accounts receivable, net 181,813 40,566 36,593 — — 258,972 Accrued unbilled revenues, net 167,037 26,508 26,875 — — 220,420 Other accounts receivable, net 26,795 4,615 4,691 — (20,609) 15,492 Fuel oil stock, at average cost 184,981 20,817 23,927 — — 229,725 Materials and supplies, at average cost 45,405 10,621 21,553 — — 77,579 Prepayments and other 33,628 6,731 6,611 — (1,172) 45,798 Regulatory assets 50,074 2,397 3,435 — — 55,906 Total current assets 703,028 118,909 142,463 77 (39,281) 925,196 Other long-term assets Operating lease right-of-use assets 44,802 35,953 12,954 — — 93,709 Regulatory assets 298,759 73,845 68,678 — — 441,282 Other 119,348 18,831 20,233 — (296) 158,116 Total other long-term assets 462,909 128,629 101,865 — (296) 693,107 Total assets $ 5,521,451 1,042,456 971,155 77 (728,593) $ 6,806,546 Capitalization and liabilities Capitalization Common stock equity $ 2,307,992 338,598 350,341 77 (689,016) $ 2,307,992 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,176,814 244,417 263,468 — — 1,684,699 Total capitalization 3,507,099 590,015 618,809 77 (689,016) 4,026,984 Current liabilities Current portion of operating lease liabilities 9,371 6,611 2,590 — — 18,572 Current portion of long-term debt 39,996 11,999 — — — 51,995 Short-term borrowings from non-affiliates 97,450 — — — — 97,450 Short-term borrowings from affiliate 17,500 — — — (17,500) — Accounts payable 117,259 26,043 22,159 — — 165,461 Interest and preferred dividends payable 20,800 3,822 4,583 — (41) 29,164 Taxes accrued, including revenue taxes 181,935 39,023 36,557 — (1,172) 256,343 Regulatory liabilities 15,349 6,451 7,518 — — 29,318 Other 62,303 18,022 20,188 — (20,725) 79,788 Total current liabilities 561,963 111,971 93,595 — (39,438) 728,091 Deferred credits and other liabilities Operating lease liabilities 43,275 29,517 10,519 — — 83,311 Finance lease liabilities 46,468 — — — — 46,468 Deferred income taxes 278,230 50,774 63,172 — — 392,176 Regulatory liabilities 725,346 183,073 92,639 — — 1,001,058 Unamortized tax credits 71,916 13,354 12,731 — — 98,001 Defined benefit pension and other postretirement benefit plans liability 211,560 46,584 50,128 — (139) 308,133 Other 75,594 17,168 29,562 — 122,324 Total deferred credits and other liabilities 1,452,389 340,470 258,751 — (139) 2,051,471 Total capitalization and liabilities $ 5,521,451 1,042,456 971,155 77 (728,593) $ 6,806,546 Condensed Consolidating Balance Sheet December 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,737 5,606 3,594 — — $ 51,937 Plant and equipment 5,097,033 1,390,361 1,248,589 — — 7,735,983 Less accumulated depreciation (1,757,096) (619,991) (563,430) — — (2,940,517) Construction in progress 159,854 17,129 27,586 — — 204,569 Utility property, plant and equipment, net 3,542,528 793,105 716,339 — — 5,051,972 Nonutility property, plant and equipment, less accumulated depreciation 5,302 115 1,532 — — 6,949 Total property, plant and equipment, net 3,547,830 793,220 717,871 — — 5,058,921 Investment in wholly owned subsidiaries, at equity 676,237 — — — (676,237) — Current assets Cash and cash equivalents 23,344 5,326 23,422 77 — 52,169 Restricted cash 3,089 — — — — 3,089 Advances to affiliates 1,000 — — — (1,000) — Customer accounts receivable, net 135,949 28,469 22,441 — — 186,859 Accrued unbilled revenues, net 92,469 19,529 17,157 — — 129,155 Other accounts receivable, net 18,624 3,347 3,031 — (17,735) 7,267 Fuel oil stock, at average cost 71,184 12,814 20,080 — — 104,078 Materials and supplies, at average cost 42,006 9,727 20,144 — — 71,877 Prepayments and other 32,140 6,052 7,114 — 725 46,031 Regulatory assets 58,695 3,051 4,918 — — 66,664 Total current assets 478,500 88,315 118,307 77 (18,010) 667,189 Other long-term assets Operating lease right-of-use assets 78,710 22,442 318 — — 101,470 Regulatory assets 337,903 81,645 79,331 — — 498,879 Other 130,546 17,124 18,510 — (1,014) 165,166 Total other long-term assets 547,159 121,211 98,159 — (1,014) 765,515 Total assets $ 5,249,726 1,002,746 934,337 77 (695,261) $ 6,491,625 Capitalization and liabilities Capitalization Common stock equity $ 2,261,899 332,900 343,260 77 (676,237) $ 2,261,899 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,136,620 234,390 253,417 — — 1,624,427 Total capitalization 3,420,812 574,290 601,677 77 (676,237) 3,920,619 Current liabilities Current portion of operating lease liabilities 45,955 3,378 35 — — 49,368 Current portion of long-term debt 39,981 11,994 — — — 51,975 Short-term borrowings-affiliate — 1,000 — — (1,000) — Accounts payable 111,024 26,139 22,844 — — 160,007 Interest and preferred dividends payable 12,442 2,617 2,269 — (3) 17,325 Taxes accrued, including revenue taxes 143,723 33,153 30,679 — 725 208,280 Regulatory liabilities 22,240 3,247 4,273 — — 29,760 Other 56,752 14,158 18,540 — (17,881) 71,569 Total current liabilities 432,117 95,686 78,640 — (18,159) 588,284 Deferred credits and other liabilities Operating lease liabilities 46,426 19,063 291 — — 65,780 Deferred income taxes 291,027 53,298 64,309 — — 408,634 Regulatory liabilities 695,152 179,267 92,589 — — 967,008 Unamortized tax credits 76,201 14,212 13,532 — — 103,945 Defined benefit pension and other postretirement benefit plans liability 220,480 48,900 53,257 — (857) 321,780 Other 67,511 18,030 30,042 — (8) 115,575 Total deferred credits and other liabilities 1,396,797 332,770 254,020 — (865) 1,982,722 Total capitalization and liabilities $ 5,249,726 1,002,746 934,337 77 (695,261) $ 6,491,625 Balance Sheets Data (in thousands) September 30, 2022 December 31, 2021 Assets Cash and due from banks $ 143,618 $ 100,051 Interest-bearing deposits 6,179 151,189 Cash and cash equivalents 149,797 251,240 Investment securities Available-for-sale, at fair value 2,232,336 2,574,618 Held-to-maturity, at amortized cost (fair value of $411,191 and $510,474, respectively) 510,879 522,270 Stock in Federal Home Loan Bank, at cost 15,000 10,000 Loans held for investment 5,687,390 5,211,114 Allowance for credit losses (70,406) (71,130) Net loans 5,616,984 5,139,984 Loans held for sale, at lower of cost or fair value 3,101 10,404 Other 705,324 590,897 Goodwill 82,190 82,190 Total assets $ 9,315,611 $ 9,181,603 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 2,921,857 $ 2,976,632 Deposit liabilities—interest-bearing 5,337,028 5,195,580 Other borrowings 409,040 88,305 Other 198,596 193,268 Total liabilities 8,866,521 8,453,785 Common stock 1 1 Additional paid-in capital 355,293 353,895 Retained earnings 441,796 411,704 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (340,266) $ (32,037) Retirement benefit plans (7,734) (348,000) (5,745) (37,782) Total shareholder’s equity 449,090 727,818 Total liabilities and shareholder’s equity $ 9,315,611 $ 9,181,603 Other assets Bank-owned life insurance $ 181,107 $ 177,566 Premises and equipment, net 196,035 202,299 Accrued interest receivable 23,140 20,854 Mortgage-servicing rights 9,351 9,950 Low-income housing investments 110,700 110,989 Real estate acquired in settlement of loans, net 271 — Real estate held for sale 3,030 — Deferred tax asset 120,442 7,699 Other 61,248 61,540 $ 705,324 $ 590,897 Other liabilities Accrued expenses $ 94,782 $ 87,905 Cashier’s checks 36,393 33,675 Advance payments by borrowers 4,488 9,994 Other 62,933 61,694 $ 198,596 $ 193,268
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 September 30, 2022 Available-for-sale U.S. Treasury and federal agency obligations $ 104,278 $ — $ (7,865) $ 96,413 16 $ 78,651 $ (5,672) 1 $ 17,762 $ (2,193) Mortgage-backed securities* 2,533,445 13 (452,503) 2,080,955 139 735,328 (110,054) 109 1,342,950 (342,449) Corporate bonds 44,412 — (4,477) 39,935 5 39,935 (4,477) — — — Mortgage revenue bonds 15,033 — — 15,033 — — — — — — $ 2,697,168 $ 13 $ (464,845) $ 2,232,336 160 $ 853,914 $ (120,203) 110 $ 1,360,712 $ (344,642) Held-to-maturity U.S. Treasury and Federal agency obligations $ 59,888 $ — $ (8,918) $ 50,970 2 $ 33,821 $ (6,106) 1 $ 17,149 $ (2,812) Mortgage-backed securities* 450,991 — (90,770) 360,221 13 91,218 (19,048) 24 269,003 (71,722) $ 510,879 $ — $ (99,688) $ 411,191 15 $ 125,039 $ (25,154) 25 $ 286,152 $ (74,534) December 31, 2021 Available-for-sale U.S. Treasury and federal agency obligations $ 89,714 $ 803 $ (427) $ 90,090 4 $ 44,827 $ (427) — $ — $ — Mortgage-backed securities* 2,482,618 6,511 (51,206) 2,437,923 120 1,845,243 (38,321) 18 271,012 (12,885) Corporate bonds 30,625 655 (102) 31,178 1 12,780 (102) — — — Mortgage revenue bonds 15,427 — — 15,427 — — — — — — $ 2,618,384 $ 7,969 $ (51,735) $ 2,574,618 125 $ 1,902,850 $ (38,850) 18 $ 271,012 $ (12,885) Held-to-maturity U.S. Treasury and Federal agency obligations $ 59,871 $ 168 $ (170) $ 59,869 2 $ 39,594 $ (170) — $ — $ — Mortgage-backed securities* 462,399 1,480 (13,274) 450,605 22 290,883 (7,665) 7 106,483 (5,609) $ 522,270 $ 1,648 $ (13,444) $ 510,474 24 $ 330,477 $ (7,835) 7 $ 106,483 $ (5,609) * 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: September 30, 2022 Amortized cost Fair value (in thousands) Available-for-sale Due in one year or less $ 15,239 $ 15,195 Due after one year through five years 81,842 76,442 Due after five years through ten years 66,642 59,744 Due after ten years — — 163,723 151,381 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 2,533,445 2,080,955 Total available-for-sale securities $ 2,697,168 $ 2,232,336 Held-to-maturity Due in one year or less $ — $ — Due after one year through five years — — Due after five years through ten years 59,888 50,970 Due after ten years — — 59,888 50,970 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 450,991 360,221 Total held-to-maturity securities $ 510,879 $ 411,191
Schedule of proceeds, gross gains and losses from sales of available-for-sale securities	The proceeds, gross gains and losses from sales of available-for-sale securities were as follows: Three months ended September 30 Nine months ended September 30 (in thousands) 2022 2021 2022 2021 Proceeds $ — $ — $ — $ 197,354 Gross gains — — — 975 Gross losses — — — 447 Tax expense on realized gains — — — 142
Schedule of components of loans receivable	The components of loans were summarized as follows: September 30, 2022 December 31, 2021 (in thousands) Real estate: Residential 1-4 family $ 2,392,780 $ 2,299,212 Commercial real estate 1,295,737 1,056,982 Home equity line of credit 967,153 835,663 Residential land 21,539 19,859 Commercial construction 89,185 91,080 Residential construction 20,303 11,138 Total real estate 4,786,697 4,313,934 Commercial 703,737 793,304 Consumer 216,744 113,966 Total loans 5,707,178 5,221,204 Less: Deferred fees and discounts (19,788) (10,090) Allowance for credit losses (70,406) (71,130) Total loans, net $ 5,616,984 $ 5,139,984
Schedule of allowance for credit losses	The allowance for credit losses (balances and changes) 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 September 30, 2022 Allowance for credit losses: Beginning balance $ 8,520 $ 20,900 $ 6,096 $ 677 $ 2,634 $ 46 $ 12,413 $ 18,170 $ 69,456 Charge-offs — — — — — — (143) (1,503) (1,646) Recoveries 2 — 14 — — — 303 963 1,282 Provision (938) 136 (167) 12 (1,635) 3 378 3,525 1,314 Ending balance $ 7,584 $ 21,036 $ 5,943 $ 689 $ 999 $ 49 $ 12,951 $ 21,155 $ 70,406 Three months ended September 30, 2021 Allowance for credit losses: Beginning balance $ 5,518 $ 28,708 $ 5,335 $ 618 $ 1,629 $ 16 $ 20,058 $ 16,370 $ 78,252 Charge-offs (47) — (5) — — — (266) (1,597) (1,915) Recoveries 5 — 7 35 — — 417 1,118 1,582 Provision 522 (2,750) 441 (19) 104 (3) (758) 488 (1,975) Ending balance $ 5,998 $ 25,958 $ 5,778 $ 634 $ 1,733 $ 13 $ 19,451 $ 16,379 $ 75,944 Nine months ended September 30, 2022 Allowance for credit losses: Beginning balance $ 6,545 $ 24,696 $ 5,657 $ 646 $ 2,186 $ 18 $ 15,798 $ 15,584 $ 71,130 Charge-offs — — — — — — (367) (4,354) (4,721) Recoveries 13 — 56 101 — — 1,055 2,964 4,189 Provision 1,026 (3,660) 230 (58) (1,187) 31 (3,535) 6,961 (192) Ending balance $ 7,584 $ 21,036 $ 5,943 $ 689 $ 999 $ 49 $ 12,951 $ 21,155 $ 70,406 Nine months ended September 30, 2021 Allowance for credit losses: Beginning balance $ 4,600 $ 35,607 $ 6,813 $ 609 $ 4,149 $ 11 $ 25,462 $ 23,950 $ 101,201 Charge-offs (67) — (45) — — — (1,356) (6,388) (7,856) Recoveries 59 — 83 56 — — 1,056 3,312 4,566 Provision 1,406 (9,649) (1,073) (31) (2,416) 2 (5,711) (4,495) (21,967) Ending balance $ 5,998 $ 25,958 $ 5,778 $ 634 $ 1,733 $ 13 $ 19,451 $ 16,379 $ 75,944
Schedule of 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 September 30, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 4,100 $ 1,400 $ 5,900 Provision — (1,500) — (1,500) Ending balance $ 400 $ 2,600 $ 1,400 $ 4,400 Three months ended September 30, 2021 Allowance for loan commitments: Beginning balance $ 400 $ 2,400 $ 850 $ 3,650 Provision — 300 (50) 250 Ending balance $ 400 $ 2,700 $ 800 $ 3,900 Nine months ended September 30, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 3,700 $ 800 $ 4,900 Provision — (1,100) 600 (500) Ending balance $ 400 $ 2,600 $ 1,400 $ 4,400 Nine months ended September 30, 2021 Allowance for loan commitments: Beginning balance $ 300 $ 3,000 $ 1,000 $ 4,300 Provision 100 (300) (200) (400) Ending balance $ 400 $ 2,700 $ 800 $ 3,900
Schedule of credit risk profile by internally assigned grade for loans	The credit risk profile by vintage date based on payment activity or internally assigned grade for loans was as follows: Term Loans by Origination Year Revolving Loans (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Converted to term loans Total September 30, 2022 Residential 1-4 family Current $ 305,656 $ 761,490 $ 428,088 $ 115,625 $ 53,423 $ 720,572 $ — $ — $ 2,384,854 30-59 days past due — — — — — 1,389 — — 1,389 60-89 days past due — — — — — 2,040 — — 2,040 Greater than 89 days past due — — 267 — 809 3,421 — — 4,497 305,656 761,490 428,355 115,625 54,232 727,422 — — 2,392,780 Home equity line of credit Current — — — — — — 924,228 41,514 965,742 30-59 days past due — — — — — — 242 130 372 60-89 days past due — — — — — — 106 43 149 Greater than 89 days past due — — — — — — 427 463 890 — — — — — — 925,003 42,150 967,153 Residential land Current 5,516 9,263 5,410 338 525 390 — — 21,442 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — 97 — — 97 5,516 9,263 5,410 338 525 487 — — 21,539 Residential construction Current 6,028 11,804 2,471 — — — — — 20,303 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 6,028 11,804 2,471 — — — — — 20,303 Consumer Current 152,156 24,939 7,779 11,509 1,487 167 11,097 4,536 213,670 30-59 days past due 786 181 119 303 43 — 41 74 1,547 60-89 days past due 229 111 50 162 35 — 23 53 663 Greater than 89 days past due 128 178 69 213 61 — 68 147 864 153,299 25,409 8,017 12,187 1,626 167 11,229 4,810 216,744 Commercial real estate Pass 293,602 179,753 297,137 51,953 57,857 297,949 4,235 — 1,182,486 Special Mention — 11,250 3,467 40,838 415 27,202 — — 83,172 Substandard — — 668 11,371 1,822 16,218 — — 30,079 Doubtful — — — — — — — — — 293,602 191,003 301,272 104,162 60,094 341,369 4,235 — 1,295,737 Commercial construction Pass — 46,263 9,570 — 11,342 — 22,010 — 89,185 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — — 46,263 9,570 — 11,342 — 22,010 — 89,185 Commercial Pass 145,209 185,304 82,895 68,730 39,524 65,509 75,669 14,430 677,270 Special Mention — — 295 6,103 25 784 3,750 10 10,967 Substandard 422 2,496 143 766 1,355 4,819 4,382 1,117 15,500 Doubtful — — — — — — — — — 145,631 187,800 83,333 75,599 40,904 71,112 83,801 15,557 703,737 Total loans $ 909,732 $ 1,233,032 $ 838,428 $ 307,911 $ 168,723 $ 1,140,557 $ 1,046,278 $ 62,517 $ 5,707,178 Term Loans by Origination Year Revolving Loans (in thousands) 2021 2020 2019 2018 2017 Prior Revolving Converted to term loans Total December 31, 2021 Residential 1-4 family Current $ 791,758 $ 461,683 $ 133,345 $ 64,421 $ 124,994 $ 712,452 $ — $ — $ 2,288,653 30-59 days past due — — — 809 — 2,210 — — 3,019 60-89 days past due — — — — — 1,468 — — 1,468 Greater than 89 days past due — — 2,987 — — 3,085 — — 6,072 791,758 461,683 136,332 65,230 124,994 719,215 — — 2,299,212 Home equity line of credit Current — — — — — — 794,518 39,116 833,634 30-59 days past due — — — — — — 296 313 609 60-89 days past due — — — — — — 16 70 86 Greater than 89 days past due — — — — — — 838 496 1,334 — — — — — — 795,668 39,995 835,663 Residential land Current 10,572 6,794 1,116 532 267 181 — — 19,462 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — 397 — — 397 10,572 6,794 1,116 532 267 578 — — 19,859 Residential construction Current 7,856 3,019 — — 263 — — — 11,138 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 7,856 3,019 — — 263 — — — 11,138 Consumer Current 37,563 15,488 29,383 10,897 302 238 12,740 4,157 110,768 30-59 days past due 202 181 517 234 15 — 156 70 1,375 60-89 days past due 59 127 392 183 8 — 7 106 882 Greater than 89 days past due 14 93 387 192 27 — 141 87 941 37,838 15,889 30,679 11,506 352 238 13,044 4,420 113,966 Commercial real estate Pass 173,794 275,242 49,317 56,490 33,581 259,583 11,602 — 859,609 Special Mention 19,600 3,529 42,935 30,870 20,788 32,824 — — 150,546 Substandard — 684 13,936 1,859 1,805 28,543 — — 46,827 Doubtful — — — — — — — — — 193,394 279,455 106,188 89,219 56,174 320,950 11,602 — 1,056,982 Commercial construction Pass 17,140 43,261 — 11,342 — — 19,337 — 91,080 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 17,140 43,261 — 11,342 — — 19,337 — 91,080 Commercial Pass 266,087 96,963 79,329 56,497 31,019 66,570 96,673 15,510 708,648 Special Mention 40 27,336 10,071 202 439 8,966 15,303 18 62,375 Substandard 427 184 3,737 1,777 4,457 2,961 7,083 1,655 22,281 Doubtful — — — — — — — — — 266,554 124,483 93,137 58,476 35,915 78,497 119,059 17,183 793,304 Total loans $ 1,325,112 $ 934,584 $ 367,452 $ 236,305 $ 217,965 $ 1,119,478 $ 958,710 $ 61,598 $ 5,221,204
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 Total Current Total Amortized cost> September 30, 2022 Real estate: Residential 1-4 family $ 1,389 $ 2,040 $ 4,497 $ 7,926 $ 2,384,854 $ 2,392,780 $ — Commercial real estate — — — — 1,295,737 1,295,737 — Home equity line of credit 372 149 890 1,411 965,742 967,153 — Residential land — — 97 97 21,442 21,539 — Commercial construction — — — — 89,185 89,185 — Residential construction — — — — 20,303 20,303 — Commercial 366 110 2,100 2,576 701,161 703,737 — Consumer 1,547 663 864 3,074 213,670 216,744 — Total loans $ 3,674 $ 2,962 $ 8,448 $ 15,084 $ 5,692,094 $ 5,707,178 $ — December 31, 2021 Real estate: Residential 1-4 family $ 3,019 $ 1,468 $ 6,072 $ 10,559 $ 2,288,653 $ 2,299,212 $ — Commercial real estate — — — — 1,056,982 1,056,982 — Home equity line of credit 609 86 1,334 2,029 833,634 835,663 — Residential land — — 397 397 19,462 19,859 — Commercial construction — — — — 91,080 91,080 — Residential construction — — — — 11,138 11,138 — Commercial 700 313 48 1,061 792,243 793,304 — Consumer 1,375 882 941 3,198 110,768 113,966 — Total loans $ 5,703 $ 2,749 $ 8,792 $ 17,244 $ 5,203,960 $ 5,221,204 $ —
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 were as follows: (in thousands) September 30, 2022 December 31, 2021 With a Related ACL Without a Related ACL Total With a Related ACL Without a Related ACL Total Real estate: Residential 1-4 family $ 6,125 $ 4,219 $ 10,344 $ 16,045 $ 3,703 $ 19,748 Commercial real estate — — — 14,104 1,221 15,325 Home equity line of credit 3,715 916 4,631 4,227 1,294 5,521 Residential land 312 97 409 97 300 397 Commercial construction — — — — — — Residential construction — — — — — — Commercial 2,591 811 3,402 1,446 692 2,138 Consumer 1,346 — 1,346 1,845 — 1,845 Total $ 14,089 $ 6,043 $ 20,132 $ 37,764 $ 7,210 $ 44,974 The credit risk profile based on loans whose terms have been modified and accruing interest were as follows: (in thousands) September 30, 2022 December 31, 2021 Real estate: Residential 1-4 family $ 7,671 $ 6,949 Commercial real estate 9,633 3,055 Home equity line of credit 4,814 6,021 Residential land 806 980 Commercial construction — — Residential construction — — Commercial 6,011 7,860 Consumer 51 52 Total troubled debt restructured loans accruing interest $ 28,986 $ 24,917
Schedule of loan modifications	Loan modifications that occurred during the three and nine months ended September 30, 2022 and 2021 were as follows: Three months ended September 30, 2022 Nine months ended September 30, 2022 (dollars in thousands) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 2 $ 512 $ — 3 $ 893 $ 135 Commercial real estate — — — — — — Home equity line of credit — — — — — — Residential land 1 204 16 1 204 16 Commercial construction — — — — — — Residential construction — — — — — — Commercial — — — 1 288 20 Consumer — — — — — — 3 $ 716 $ 16 5 $ 1,385 $ 171 Three months ended September 30, 2021 Nine months ended September 30, 2021 (dollars in thousands) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 1 $ 442 $ 81 16 $ 10,363 $ 309 Commercial real estate — — — — — — Home equity line of credit — — — — — — Residential land 1 247 11 3 802 37 Commercial construction — — — — — — Residential construction — — — — — — Commercial 1 2,386 212 7 2,678 242 Consumer — — — — — — 3 $ 3,075 $ 304 26 $ 13,843 $ 588 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: Amortized cost (in thousands) September 30, 2022 December 31, 2021 Collateral type Real estate: Residential 1-4 family $ 4,699 $ 3,493 Residential real estate property Commercial real estate — 1,221 Commercial real estate property Home equity line of credit 899 1,294 Residential real estate property Residential land 97 300 Residential real estate property Total real estate 5,695 6,308 Commercial 187 692 Business assets Total $ 5,882 $ 7,000
Schedule of amortized intangible assets	Changes in the carrying value of MSRs were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net September 30, 2022 $ 19,454 $ (10,103) $ — $ 9,351 December 31, 2021 18,674 (8,724) — 9,950 Changes related to MSRs were as follows: Three months ended September 30, Nine months ended September 30 (in thousands) 2022 2021 2022 2021 Mortgage servicing rights Beginning balance $ 9,696 $ 10,754 $ 9,950 $ 10,280 Amount capitalized 117 315 1,040 2,885 Amortization (462) (797) (1,639) (2,893) Other-than-temporary impairment — — — — Carrying amount before valuation allowance 9,351 10,272 9,351 10,272 Valuation allowance for mortgage servicing rights Beginning balance — — — 260 Provision — — — (260) Other-than-temporary impairment — — — — Ending balance — — — — Net carrying value of mortgage servicing rights $ 9,351 $ 10,272 $ 9,351 $ 10,272
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) September 30, 2022 December 31, 2021 Unpaid principal balance $ 1,467,806 $ 1,481,899 Weighted average note rate 3.36 % 3.38 % Weighted average discount rate 9.25 % 9.25 % Weighted average prepayment speed 6.72 % 9.77 %
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) September 30, 2022 December 31, 2021 Prepayment rate: 25 basis points adverse rate change $ (144) $ (714) 50 basis points adverse rate change (299) (1,608) Discount rate: 25 basis points adverse rate change (177) (129) 50 basis points adverse rate change (351) (256)
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 Gross amount Net amount of Repurchase agreements September 30, 2022 $ 284 $ — $ 284 December 31, 2021 88 — 88 Gross amount not offset in the Balance Sheets (in millions) Net amount of liabilities presented Financial Cash Commercial account holders September 30, 2022 $ 284 $ 285 $ — December 31, 2021 88 161 —
Schedule of notional and fair value of derivatives	The notional amount and fair value of ASB’s derivative financial instruments were as follows: September 30, 2022 December 31, 2021 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 5,635 $ (85) $ 39,377 $ 638 Forward commitments 5,250 172 38,000 (11)
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 September 30, 2022 December 31, 2021 (in thousands) Asset derivatives Liability Asset derivatives Liability Interest rate lock commitments $ 3 $ 88 $ 638 $ — Forward commitments 172 — — 11 $ 175 $ 88 $ 638 $ 11 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 September 30, Nine months ended September 30 (in thousands) 2022 2021 2022 2021 Interest rate lock commitments Mortgage banking income $ (129) $ (63) $ (722) $ (4,228) Forward commitments Mortgage banking income 145 150 182 609 $ 16 $ 87 $ (540) $ (3,619)

Credit agreement and changes _2

Credit agreement and changes in debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of notes	On September 29, 2022, HEI entered into a note purchase agreement (HEI NPA) under which HEI has authorized the issue and sale of $110 million of unsecured senior notes that were drawn on November 1, 2022, as displayed in the table below. HEI Series 2022C HEI Green Series 2022D Aggregate principal amount $75 million $35 million Fixed coupon interest rate 5.43% 5.43% Maturity date 11/1/2032 11/1/2034 Series 2022A Aggregate principal amount $60 million Fixed coupon interest rate 3.7% Maturity date 6/15/2032 Principal amount by company: Hawaiian Electric $40 million Hawaii Electric Light $10 million Maui Electric $10 million

Shareholders' equity (Tables)

Shareholders' equity (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2021 $ (32,037) $ (3,638) $ (16,858) $ (52,533) $ (3,280) Current period other comprehensive income (loss) (308,229) 6,561 657 (301,011) 210 Balance, September 30, 2022 $ (340,266) $ 2,923 $ (16,201) $ (353,544) $ (3,070) Balance, December 31, 2020 $ 19,986 $ (3,363) $ (17,887) $ (1,264) $ (2,919) Current period other comprehensive income (loss) (40,308) 1,009 450 (38,849) 175 Balance, September 30, 2021 $ (20,322) $ (2,354) $ (17,437) $ (40,113) $ (2,744)
Schedule of reclassifications out of accumulated other comprehensive income/(loss)	Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Affected line item in the Three months ended September 30 Nine months ended September 30 (in thousands) 2022 2021 2022 2021 HEI consolidated Net realized gains on securities included in net income $ — $ — $ — $ (387) Gain on sale of investment securities, net Net realized losses on derivatives qualifying as cash flow hedges 53 9 161 9 Interest expense Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 5,606 2,853 10,229 14,871 See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets (5,303) (2,799) (9,572) (14,421) See Note 9 for additional details Total reclassifications $ 356 $ 63 $ 818 $ 72 Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ 5,411 $ 2,905 $ 9,782 $ 14,596 See Note 9 for additional details Impact of D&Os of the PUC included in regulatory assets (5,303) (2,799) (9,572) (14,421) See Note 9 for additional details Total reclassifications $ 108 $ 106 $ 210 $ 175

Interest rate swaps (Tables)

Interest rate swaps (Tables)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of interest rate derivatives	Notional amount Fixed interest rate Asset (liability) (in millions) at Effective date Maturity date September 30, 2022 December 31, 2021 $24.0 4.88% - 5.05% 9/1/2021 - 9/1/2022 9/1/2034 - 9/1/2035 0.7 (5.3) $13.0 2.79% 11/1/2020 10/1/2031 1.4 0.3
Schedule of derivative instruments, effect on other comprehensive income (loss)	The following table provides the pre-tax gain (loss) of the derivative instruments in the Company's condensed consolidated statement of comprehensive income (loss) during the three and six months ended September 30, 2022 and 2021: Three months ended September 30 Nine months ended September 30 (in millions) 2022 2021 2022 2021 Gain on interest rate swaps designated as cash flow hedges recognized in other comprehensive income $ 3.5 $ 0.2 $ 8.6 $ 1.3

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 Nine months ended September 30, 2022 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 306,417 $ — $ — $ 306,417 $ 790,424 $ — $ — $ 790,424 Electric energy sales - commercial 309,940 — — 309,940 794,238 — — 794,238 Electric energy sales - large light and power 351,763 — — 351,763 886,733 — — 886,733 Electric energy sales - other 5,400 — — 5,400 11,699 — — 11,699 Bank fees — 12,058 — 12,058 — 36,851 — 36,851 Other sales — — 4,760 4,760 — — 7,208 7,208 Total revenues from contracts with customers 973,520 12,058 4,760 990,338 2,483,094 36,851 7,208 2,527,153 Revenues from other sources Regulatory revenue $ (26,301) $ — $ — $ (26,301) $ (24,843) $ — $ — $ (24,843) Bank interest and dividend income — 68,417 — 68,417 — 191,228 — 191,228 Other bank noninterest income — 936 — 936 — 3,771 — 3,771 Other 8,752 — 55 8,807 25,385 — 178 25,563 Total revenues from other sources (17,549) 69,353 55 51,859 542 194,999 178 195,719 Total revenues $ 955,971 $ 81,411 $ 4,815 $ 1,042,197 $ 2,483,636 $ 231,850 $ 7,386 $ 2,722,872 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 12,058 $ — $ 12,058 $ — $ 36,851 $ — $ 36,851 Services/goods transferred over time 973,520 — 4,760 978,280 2,483,094 — 7,208 2,490,302 Total revenues from contracts with customers $ 973,520 $ 12,058 $ 4,760 $ 990,338 $ 2,483,094 $ 36,851 $ 7,208 $ 2,527,153 Three months ended September 30, 2021 Nine months ended September 30, 2021 (in thousands) Electric utility Bank Other Total Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 228,878 $ — $ — $ 228,878 $ 606,435 $ — $ — $ 606,435 Electric energy sales - commercial 217,468 — — 217,468 578,036 — — 578,036 Electric energy sales - large light and power 229,129 — — 229,129 607,480 — — 607,480 Electric energy sales - other 2,779 — — 2,779 7,470 — — 7,470 Bank fees — 11,186 — 11,186 — 34,133 — 34,133 Other sales — — 1,178 1,178 — — 3,191 3,191 Total revenues from contracts with customers 678,254 11,186 1,178 690,618 1,799,421 34,133 3,191 1,836,745 Revenues from other sources Regulatory revenue (5,717) — — (5,717) 25,566 — — 25,566 Bank interest and dividend income — 61,441 — 61,441 — 182,127 — 182,127 Other bank noninterest income — 3,581 — 3,581 — 14,339 — 14,339 Other 6,962 — 19 6,981 21,255 — 75 21,330 Total revenues from other sources 1,245 65,022 19 66,286 46,821 196,466 75 243,362 Total revenues $ 679,499 $ 76,208 $ 1,197 $ 756,904 $ 1,846,242 $ 230,599 $ 3,266 $ 2,080,107 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 11,186 $ — $ 11,186 $ — $ 34,133 $ — $ 34,133 Services/goods transferred over time 678,254 — 1,178 679,432 1,799,421 — 3,191 1,802,612 Total revenues from contracts with customers $ 678,254 $ 11,186 $ 1,178 $ 690,618 $ 1,799,421 $ 34,133 $ 3,191 $ 1,836,745

Retirement benefits (Tables)

Retirement benefits (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30 Nine months ended September 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2022 2021 2022 2021 2022 2021 2022 2021 HEI consolidated Service cost $ 18,831 $ 20,102 $ 624 $ 711 $ 58,478 $ 61,031 $ 1,937 $ 2,121 Interest cost 20,274 18,896 1,593 1,459 59,895 56,497 4,868 4,597 Expected return on plan assets (35,163) (33,022) (3,394) (3,252) (105,827) (99,157) (10,189) (9,717) Amortization of net prior period gain — — (232) (383) — — (696) (1,150) Amortization of net actuarial (gain)/losses 1 7,782 10,112 (3) (140) 20,376 20,099 (9) 158 Net periodic pension/benefit cost (return) 11,724 16,088 (1,412) (1,605) 32,922 38,470 (4,089) (3,991) Impact of PUC D&Os 8,758 4,292 1,289 1,483 27,861 20,972 3,725 3,629 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 20,482 $ 20,380 $ (123) $ (122) $ 60,783 $ 59,442 $ (364) $ (362) Hawaiian Electric consolidated Service cost $ 18,248 $ 19,610 $ 617 $ 704 $ 56,883 $ 59,597 $ 1,915 $ 2,101 Interest cost 18,850 17,614 1,525 1,398 55,773 52,676 4,670 4,406 Expected return on plan assets (33,314) (31,318) (3,343) (3,202) (100,405) (94,053) (10,035) (9,566) Amortization of net prior period gain — — (232) (383) — — (694) (1,148) Amortization of net actuarial (gain)/losses 1 7,519 9,880 — (138) 19,769 20,651 — 155 Net periodic pension/benefit cost (return) 11,303 15,786 (1,433) (1,621) 32,020 38,871 (4,144) (4,052) Impact of PUC D&Os 8,758 4,292 1,289 1,483 27,861 20,972 3,725 3,629 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 20,061 $ 20,078 $ (144) $ (138) $ 59,881 $ 59,843 $ (419) $ (423) 1 Nine months ended September 30, 2021 amounts include the one-time cumulative impact of the change in accounting principle for the plans’ fixed income securities from the calculated market-related value method to the fair value method, which was recorded in the first quarter of 2021.

Share-based compensation (Table

Share-based compensation (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30 Nine months ended September 30 (in millions) 2022 2021 2022 2021 HEI consolidated Share-based compensation expense 1 $ 1.7 $ 1.3 $ 7.3 $ 6.7 Income tax benefit 0.4 0.1 1.5 1.0 Hawaiian Electric consolidated Share-based compensation expense 1 0.6 0.1 2.1 2.1 Income tax benefit 0.1 — 0.5 0.4 1 For the three and nine months ended September 30, 2022 and 2021, the Company has not capitalized any share-based compensation.
Schedule of common stock granted to nonemployee directors	HEI granted HEI common stock to nonemployee directors under the 2011 Director Plan as follows: Three months ended September 30 Nine months ended September 30 (dollars in millions) 2022 2021 2022 2021 Shares granted 965 — 35,720 29,320 Fair value $ — $ — $ 1.5 $ 1.2 Income tax benefit — — 0.4 0.3
Schedule of restricted stock units	Information about HEI’s grants of restricted stock units was as follows: Three months ended September 30 Nine months ended September 30 2022 2021 2022 2021 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 208,953 $ 39.71 229,775 $ 38.02 233,448 $ 38.10 193,939 $ 40.89 Granted — — 1,432 45.09 98,463 41.31 133,924 34.49 Vested (4,244) 39.49 (343) 37.83 (95,658) 37.73 (79,623) 38.51 Forfeited (16,540) 39.99 (1,074) 38.52 (48,084) 39.19 (18,450) 39.92 Outstanding, end of period 188,169 $ 39.69 229,790 $ 38.06 188,169 $ 39.69 229,790 $ 38.06 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ 0.1 $ 4.1 $ 4.6
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 September 30 Nine months ended September 30 2022 2021 2022 2021 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 76,730 $ 47.74 91,159 $ 42.87 90,974 $ 42.86 89,222 $ 42.10 Granted — — 281 41.12 26,469 54.92 46,024 41.12 Vested (issued or unissued and cancelled) — — — — (29,042) 41.07 (32,355) 38.20 Forfeited (4,829) 48.52 (466) 42.49 (16,500) 44.33 (11,917) 43.07 Outstanding, end of period 71,901 $ 47.69 90,974 $ 42.86 71,901 $ 47.69 90,974 $ 42.86 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ — $ 1.5 $ 1.9
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: 2022 2021 Risk-free interest rate 1.71 % 0.19 % Expected life in years 3 3 Expected volatility 31.0 % 29.9 % Range of expected volatility for Peer Group 25.4% to 76.7% 25.6% to 102.9% Grant date fair value (per share) $54.92 $41.12
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 September 30 Nine months ended September 30 2022 2021 2022 2021 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 293,711 $ 39.91 316,005 $ 38.38 306,342 $ 38.42 220,715 $ 41.03 Granted — — 1,125 41.12 105,860 41.31 184,102 34.37 Vested — — — — (71,807) 37.68 (43,155) 34.12 Increase above target (cancelled) — — (22,354) 37.81 — — (21,077) 38.18 Forfeited (19,316) 38.60 (1,865) 36.77 (66,000) 37.31 (47,674) 38.74 Outstanding, end of period 274,395 $ 40.00 292,911 $ 38.45 274,395 $ 40.00 292,911 $ 38.45 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ — $ — $ 4.4 $ 6.3

Cash flows (Tables)

Cash flows (Tables)	9 Months Ended
	Sep. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental disclosures of cash and noncash activity	Nine months ended September 30 2022 2021 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 59 $ 61 Income taxes paid (including refundable credits) 26 34 Income taxes refunded (including refundable credits) 2 — Hawaiian Electric consolidated Interest paid to non-affiliates 40 43 Income taxes paid (including refundable credits) 46 20 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 6 5 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 34 30 Increase related to an acquisition (investing) 15 — Right-of-use assets obtained in exchange for finance lease obligations (financing) 48 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 48 44 Property, plant, equipment and other assets received in exchange for the assumption of debt associated with a business acquisition (investing) 68 — Debt, lease liabilities and other liabilities assumed in business acquisition (financing) 68 — Common stock issued (gross) for director and executive/management compensation (financing) 1 10 7 Obligations to fund low income housing investments (investing) 9 9 Loans transferred from held for investment to held for sale (investing) — 62 Hawaiian Electric consolidated Electric utility property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 6 5 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 31 27 Increase related to an acquisition (investing) 15 — Right-of-use assets obtained in exchange for finance lease obligations (financing) 48 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 44 44 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)	9 Months Ended
	Sep. 30, 2022
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. Estimated fair value (in thousands) Carrying or notional amount Quoted prices in Significant Significant Total September 30, 2022 Financial assets HEI consolidated Available-for-sale investment securities $ 2,232,336 $ — $ 2,217,303 $ 15,033 $ 2,232,336 Held-to-maturity investment securities 510,879 — 411,191 — 411,191 Loans, net 5,620,085 — 3,071 5,146,554 5,149,625 Mortgage servicing rights 9,351 — — 17,244 17,244 Derivative assets 42,988 172 2,077 — 2,249 Financial liabilities HEI consolidated Deposit liabilities 499,797 — 485,755 — 485,755 Short-term borrowings—other than bank 171,125 — 171,125 — 171,125 Other bank borrowings 409,040 — 409,033 — 409,033 Long-term debt, net—other than bank 2,430,326 — 2,147,438 — 2,147,438 Derivative liabilities 4,897 — 88 — 88 Hawaiian Electric consolidated Short-term borrowings 97,450 — 97,450 — 97,450 Long-term debt, net 1,736,694 — 1,510,725 — 1,510,725 December 31, 2021 Financial assets HEI consolidated Available-for-sale investment securities $ 2,574,618 $ — $ 2,559,191 $ 15,427 $ 2,574,618 Held-to-maturity investment securities 522,270 — 510,474 — 510,474 Loans, net 5,150,388 — 10,403 5,218,121 5,228,524 Mortgage servicing rights 9,950 — — 14,480 14,480 Derivative assets 57,377 — 909 — 909 Financial liabilities HEI consolidated Deposit liabilities 423,976 — 442,361 — 442,361 Short-term borrowings—other than bank 53,998 — 53,998 — 53,998 Other bank borrowings 88,305 — 88,304 — 88,304 Long-term debt, net—other than bank 2,321,937 — 2,624,130 — 2,624,130 Derivative liabilities 57,000 11 5,271 — 5,282 Hawaiian Electric consolidated Long-term debt, net 1,676,402 — 1,955,710 — 1,955,710
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: September 30, 2022 December 31, 2021 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 $ — $ 2,080,955 $ — $ — $ 2,437,923 $ — U.S. Treasury and federal agency obligations — 96,413 — — 90,090 — Corporate bonds — 39,935 — — 31,178 — Mortgage revenue bonds — — 15,033 — — 15,427 $ — $ 2,217,303 $ 15,033 $ — $ 2,559,191 $ 15,427 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 3 $ — $ — $ 638 $ — Forward commitments (bank segment) 1 172 — — — — — Interest rate swap (Other segment) 2 — 2,074 — — 271 — $ 172 $ 2,077 $ — $ — $ 909 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ 88 $ — $ — $ — $ — Forward commitments (bank segment) 1 — — — 11 — — Interest rate swap (Other segment) 2 — — — — 5,271 — $ — $ 88 $ — $ 11 $ 5,271 $ — 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 assets and 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 September 30 Nine months ended September 30 Mortgage revenue bonds 2022 2021 2022 2021 (in thousands) Beginning balance $ 15,165 $ 15,427 $ 15,427 $ 27,185 Principal payments received (132) — (394) (11,758) Purchases — — — — Unrealized gain (loss) included in other comprehensive income — — — — Ending balance $ 15,033 $ 15,427 $ 15,033 $ 15,427

Segment financial information_2

Segment financial information (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Segment financial information
Revenues	$ 1,042,197			$ 756,904			$ 2,722,872	$ 2,080,107
Income (loss) before income taxes	79,905			78,151			233,602	241,291
Income taxes (benefit)	17,352			14,265			48,395	48,229
Net income attributable to Hawaiian Electric	62,553			63,886			185,207	193,062
Preferred stock dividends of Hawaiian Electric	471			471			1,417	1,417
Net income for common stock	62,082	$ 52,541	$ 69,167	63,415	$ 63,872	$ 64,358	183,790	191,645
Total assets	16,264,868						16,264,868		$ 15,822,637
Revenues from external customers
Segment financial information
Revenues	1,042,197			756,904			2,722,872	2,080,107
Intersegment revenues (eliminations)
Segment financial information
Revenues	0			0			0	0
Electric utility
Segment financial information
Revenues	955,971			679,499			2,483,636	1,846,242
Income (loss) before income taxes	63,712			61,175			179,771	170,163
Income taxes (benefit)	13,450			10,335			37,967	33,066
Net income attributable to Hawaiian Electric	50,262			50,840			141,804	137,097
Preferred stock dividends of Hawaiian Electric	498			498			1,496	1,496
Net income for common stock	49,764			50,342			140,308	135,601
Total assets	6,806,546						6,806,546		6,491,625
Electric utility | Revenues from external customers
Segment financial information
Revenues	955,971			679,482			2,483,632	1,846,206
Electric utility | Intersegment revenues (eliminations)
Segment financial information
Revenues	0			17			4	36
Bank
Segment financial information
Revenues	81,411			76,208			231,850	230,599
Income (loss) before income taxes	27,281			25,241			79,605	102,335
Income taxes (benefit)	6,525			5,976			17,513	23,230
Net income attributable to Hawaiian Electric	20,756			19,265			62,092	79,105
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income for common stock	20,756			19,265			62,092	79,105
Total assets	9,315,611						9,315,611		9,181,603
Bank | Revenues from external customers
Segment financial information
Revenues	81,411			76,208			231,850	230,599
Bank | Intersegment revenues (eliminations)
Segment financial information
Revenues	0			0			0	0
Other
Segment financial information
Revenues	4,815			1,197			7,386	3,266
Income (loss) before income taxes	(11,088)			(8,265)			(25,774)	(31,207)
Income taxes (benefit)	(2,623)			(2,046)			(7,085)	(8,067)
Net income attributable to Hawaiian Electric	(8,465)			(6,219)			(18,689)	(23,140)
Preferred stock dividends of Hawaiian Electric	(27)			(27)			(79)	(79)
Net income for common stock	(8,438)			(6,192)			(18,610)	(23,061)
Total assets	142,711						142,711		$ 149,409
Other | Revenues from external customers
Segment financial information
Revenues	4,815			1,214			7,390	3,302
Other | Intersegment revenues (eliminations)
Segment financial information
Revenues	$ 0			$ (17)			$ (4)	$ (36)

Electric utility segment - Unco

Electric utility segment - Unconsolidated variable interest entities (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2022 MW	Jun. 30, 2021 MW	Mar. 31, 2021 MW	Sep. 30, 2022 entity agreement
Power purchase agreement
Number of IPPs (in entities) | entity				2
Puna Geothermal Venture Power Purchase Agreement
Power purchase agreement
Firm capacity volume (in megawatts) | MW	25.7	23.9	13
Hawaiian Electric Company
Power purchase agreement
Number of power purchase agreements (PPAs) (in agreements) | agreement				4

Electric utility segment - Powe

Electric utility segment - Power purchase agreements (Details) $ in Thousands			1 Months Ended					3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 31, 2022 MWh MW	Aug. 23, 2021	Oct. 31, 2021	Jul. 31, 2018 MW	Feb. 28, 2018 USD ($) agreement MW	May 31, 2012 MW	Mar. 31, 1988 MW	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 1988 MW	Dec. 31, 2021 USD ($)
Regulatory Projects and Legal Obligations [Line Items]
Finance lease liabilities								$ 49,202		$ 49,202			$ 0
Kalaeloa
Regulatory Projects and Legal Obligations [Line Items]
Purchase commitment, extension period			10 years
Purchase commitment, price increase percentage								80%
AES Hawaii
Regulatory Projects and Legal Obligations [Line Items]
Purchase commitment, period (in years)							30 years
Minimum power volume required (in megawatts) | MW							180
Stage 1 Renewable PPAs
Regulatory Projects and Legal Obligations [Line Items]
Purchase commitment, period (in years)	20 years
Minimum power volume required (in megawatts) | MW					274.5
Number of power purchase agreements (PPAs) (in agreements) | agreement					8
Estimated annual cost					$ 64,700
Generates in minimum volume required (in megawatts) | MW	39
Generates in minimum volume required (in megawatts hour) | MWh	156
Finance lease liabilities								$ 48,000		48,000
Financing lease right-of-use assets								48,000		48,000
Hu Honua Bioenergy, LLC
Regulatory Projects and Legal Obligations [Line Items]
Minimum power volume required (in megawatts) | MW						21.5
Molokai New Energy Partners
Regulatory Projects and Legal Obligations [Line Items]
Total contracted PV capacity (in megawatts) | MW				4.88
Total contracted battery energy storage system capacity | MW				3
Maximum power volume to be delivered (in megawatts) | MW				2.64
Sause Bros., Inc.
Regulatory Projects and Legal Obligations [Line Items]
Purchase commitment, period (in years)		5 years
Hawaiian Electric
Regulatory Projects and Legal Obligations [Line Items]
Purchased power								225,000	$ 186,000	607,000	$ 491,000
Hawaiian Electric | Kalaeloa
Regulatory Projects and Legal Obligations [Line Items]
Purchased power								101,000	56,000	244,000	142,000
Increased power purchase commitment capacity (in megawatts) | MW												208
Hawaiian Electric | AES Hawaii
Regulatory Projects and Legal Obligations [Line Items]
Purchased power								21,000	32,000	82,000	98,000
Hawaiian Electric | HPOWER
Regulatory Projects and Legal Obligations [Line Items]
Purchased power								18,000	20,000	56,000	51,000
Hawaiian Electric | Hamakua Energy
Regulatory Projects and Legal Obligations [Line Items]
Purchased power								16,000	15,000	46,000	38,000
Hawaiian Electric | Puna Geothermal Venture
Regulatory Projects and Legal Obligations [Line Items]
Purchased power								13,000	9,000	37,000	20,000
Hawaiian Electric | Wind IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power								37,000	38,000	93,000	95,000
Hawaiian Electric | Solar IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power								18,000	12,000	44,000	40,000
Hawaiian Electric | Other IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power								$ 1,000	$ 4,000	$ 5,000	$ 7,000

Electric utility segment - Util

Electric utility segment - Utility projects (Details)	1 Months Ended	9 Months Ended
	Nov. 30, 2019 USD ($) MW	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Nov. 30, 2021 USD ($)	Oct. 31, 2020 generationUnit transmission_line kV	Jun. 10, 2019 USD ($)	Oct. 31, 2018 USD ($)
Public Utilities, General Disclosures [Line Items]
Operating lease right-of-use assets		$ 121,302,000	$ 122,416,000
Federal
Public Utilities, General Disclosures [Line Items]
Tax credit deferral period		25 years
State
Public Utilities, General Disclosures [Line Items]
Tax credit deferral period		10 years
ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
Future O&M expense reductions						$ 150,000,000
Future cost avoidance related to capital cost and tax costs						$ 96,000,000
Hawaiian Electric Company, Inc. and Subsidiaries
Public Utilities, General Disclosures [Line Items]
Operating lease right-of-use assets		$ 93,709,000	$ 101,470,000
Hawaiian Electric Company, Inc. and Subsidiaries | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
ERP/EAM project service period (in years)		12 years
ERP/EAM project service, savings over 12 years							$ 246,000,000
Regulatory liability for O&M expense reductions		$ 10,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | West Loch PV Project
Public Utilities, General Disclosures [Line Items]
Solar project, energy production (in megawatts) | MW	20
Solar project, project cap	$ 67,000,000
Solar project, project cap for in-kind work	$ 4,700,000
Solar project, cost incurred		60,400,000
Federal nonrefundable tax credits		14,700,000
State nonrefundable tax credits		14,000,000
Operating lease right-of-use assets		6,400,000
Hawaiian Electric Company, Inc. and Subsidiaries | Waena Switchyard/Synchronous Condenser Project
Public Utilities, General Disclosures [Line Items]
Number of extended transmission lines | transmission_line					2
Number of kilovolts | kV					69
Number of generating units converting to synchronous condensers | generationUnit					2
Renewable energy generation project, approved funds				$ 38,800,000
Renewable energy generation project, incurred cost		11,200,000
Hawaiian Electric | PCB Contamination
Public Utilities, General Disclosures [Line Items]
Valuation allowances and reserves		10,000,000
Hawaiian Electric | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
Regulatory liability for O&M expense reductions		4,400,000
Hawaii Electric Light | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
Regulatory liability for O&M expense reductions		2,200,000
Maui Electric
Public Utilities, General Disclosures [Line Items]
Additional accrued investigation and estimated cleanup costs		2,600,000
Maui Electric | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
Regulatory liability for O&M expense reductions		$ 3,400,000
Regulatory liability, amortization period		5 years

Electric utility segment - Regu

Electric utility segment - Regulatory proceedings (Details) $ in Millions

3 Months Ended

9 Months Ended

12 Months Ended

Feb. 16, 2021 agreement

Dec. 23, 2020 USD ($)

Sep. 15, 2020 agreement

Nov. 30, 2021 agreement

Sep. 30, 2022 USD ($) MWh contract project

Dec. 31, 2021 USD ($)

Dec. 31, 2019 USD ($) agreement

Jun. 30, 2022 USD ($)

Jun. 17, 2022 mechanism staff

Feb. 28, 2022 USD ($)

Jun. 01, 2021 mechanism

Mar. 23, 2021 mechanism

Dec. 31, 2020 entity

Jul. 09, 2020 agreement

Regulatory Projects and Legal Obligations [Line Items]

Propose pilots annual cap

$ 10

PUC proposal period

45 days

Potential total annual maximum reward

$ 2

Advanced metering infrastructure term

3 years

Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

Number of performance incentive mechanisms of concern | mechanism

11

Number of staff proposing penalty-only PIMs | staff

7

Number of performance incentive mechanisms | mechanism

2

3

2

Number of performance incentive mechanisms, penalty-only | mechanism

1

Multi-year rate period

5 years

Customer dividend, negative adjustment percentage

0.22%

Savings commitment liability, annual rate

$ 6.6

Earnings sharing mechanism, actual return on equity, dead band percentage above or below target

3%

Approved return on equity, percentage

9.50%

Earnings sharing mechanism, actual earning, above or below dead band

1.50%

MPIR and EPRM requested amount

$ 26.2

EPRM approved projects | contract

2

EPRM approved projects, capital costs

$ 41

Number of projects | project

5

Estimated capital costs

$ 450

2021 deferred cost recovery approved

$ 0.1

Decoupling order, service reliability performance, historical measurement period (in years)

10 years

Maximum penalty, percent of ROE

0.20%

Service reliability, pending adjusted maximum penalty amount

$ 6.8

Service reliability, estimated penalties

$ 0.2

Dead band percentage above or below the target

3%

Call center performance, maximum penalty percentage

0.08%

Call center performance, pending adjusted maximum penalty

$ 1.4

Number of power purchase agreements (PPAs) (in agreements) | agreement

1

1

7

Incentives accrued

0.1

$ 1.7

Number of grid service purchase agreements | agreement

2

Number of PPAs approved | agreement

2

Number of GSPAs approved | entity

2

Interpolated RPS rate goal, year one and two (in dollars per MWh) | MWh

20

Interpolated RPS rate goal, year three (in dollars per MWh) | MWh

15

Interpolated RPS rate goal, after year three (in dollars per MWh) | MWh

10

Failure to meet RPS targets, penalty rate (in dollars per MWh) | MWh

20

Estimated rewards

1

Potential total annual maximum reward

$ 1.5

Potential total annual maximum reward

3

Total annual maximum penalty

0.9

Interconnection approval PIM, accrued estimated rewards

2.8

Performance incentive mechanism, maximum reward

$ 2

Performance incentive mechanism, term

3 years

Performance incentive mechanism, accrued estimated rewards

$ 0.3

Target performance historical measurement period

10 years

Percent of return on equity

0.03%

Pending adjusted amount

$ 1

Target performance period

10 months

Target deadband period

2 months

Accrued estimated rewards, net of penalties

3.7

Hawaiian Electric

Regulatory Projects and Legal Obligations [Line Items]

Public utilities retained percentage

20%

Public utilities retained amount

$ 5

Accrued estimated rewards, net of penalties

2.8

Hawaii Electric Light

Regulatory Projects and Legal Obligations [Line Items]

Public utilities retained percentage

5%

Public utilities retained amount

$ 1

Accrued estimated rewards, net of penalties

0.4

Maui Electric

Regulatory Projects and Legal Obligations [Line Items]

Public utilities retained percentage

5%

Public utilities retained amount

$ 1

Accrued estimated rewards, net of penalties

$ 0.5

Schofield Generation Station | Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

16.5

West Loch PV Project | Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

3.5

Grid Modernization Strategy Phase 1 Project | Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

6.1

Waiawa UFLS Project | Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

EPRM requested amount

$ 0.1

Electric utility segment - Annu

Electric utility segment - Annual decoupling filings summary (Details) - USD ($) $ in Millions		9 Months Ended
	Oct. 31, 2022	Sep. 30, 2022
Regulatory Projects and Legal Obligations [Line Items]
Incremental RAM revenues and ARA revenues		$ 40.1
Annual change in accrued RBA balance		(13.5)
Incremental Performance Incentive Mechanisms (net)		0.4
Incremental MPIR/EPRM Revenue Adjustment		0.3
Net incremental amount to be collected under the RBA rate tariffs		27.3
Subsequent Event
Regulatory Projects and Legal Obligations [Line Items]
2023 ARA revenues	$ 40.1
Management Audit savings commitment	(6.6)
Net 2023 ARA revenues	33.5
Hawaiian Electric
Regulatory Projects and Legal Obligations [Line Items]
Incremental RAM revenues and ARA revenues		27
Annual change in accrued RBA balance		(3.6)
Incremental Performance Incentive Mechanisms (net)		0.3
Incremental MPIR/EPRM Revenue Adjustment		0.3
Net incremental amount to be collected under the RBA rate tariffs		24
Hawaiian Electric | Subsequent Event
Regulatory Projects and Legal Obligations [Line Items]
2023 ARA revenues	27
Management Audit savings commitment	(4.6)
Net 2023 ARA revenues	22.4
Hawaii Electric Light
Regulatory Projects and Legal Obligations [Line Items]
Incremental RAM revenues and ARA revenues		6.6
Annual change in accrued RBA balance		(6.7)
Incremental Performance Incentive Mechanisms (net)		0.1
Incremental MPIR/EPRM Revenue Adjustment		0
Net incremental amount to be collected under the RBA rate tariffs		0
Hawaii Electric Light | Subsequent Event
Regulatory Projects and Legal Obligations [Line Items]
2023 ARA revenues	6.6
Management Audit savings commitment	(1)
Net 2023 ARA revenues	5.6
Maui Electric
Regulatory Projects and Legal Obligations [Line Items]
Incremental RAM revenues and ARA revenues		6.5
Annual change in accrued RBA balance		(3.2)
Incremental Performance Incentive Mechanisms (net)		0
Incremental MPIR/EPRM Revenue Adjustment		0
Net incremental amount to be collected under the RBA rate tariffs		$ 3.3
Maui Electric | Subsequent Event
Regulatory Projects and Legal Obligations [Line Items]
2023 ARA revenues	6.5
Management Audit savings commitment	(1)
Net 2023 ARA revenues	$ 5.5

Electric utility segment - Re_2

Electric utility segment - Regulatory assets for COVID-19 related costs (Details) - Hawaiian Electric Company, Inc. and Subsidiaries - USD ($) $ in Millions		1 Months Ended
	Jun. 09, 2022	Dec. 31, 2021
Regulatory Projects and Legal Obligations [Line Items]
Recovery of deferral costs	$ 27.8
Recovery of deferral costs period	3 years
COVID-19
Regulatory Projects and Legal Obligations [Line Items]
Customer bill forgiveness		$ 2

Electric utility segment - Army

Electric utility segment - Army privatization (Details) - Hawaiian Electric Company, Inc. and Subsidiaries $ in Millions	Mar. 01, 2022 USD ($)	Oct. 30, 2020 USD ($) installation
Regulatory Projects and Legal Obligations [Line Items]
Public utilities, electric distribution system, contract period	50 years	50 years
Number of U.S. army installations being serviced | installation		12
Purchase price	$ 14.5
price of acquisition, expected		$ 4
Transition period	1 year
Capital upgrade over the period	6 years

Electric utility segment - Cond

Electric utility segment - Condensed consolidating statement of income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Condensed Income Statements, Captions [Line Items]
Revenues	$ 1,042,197			$ 756,904			$ 2,722,872	$ 2,080,107
Expenses
Total expenses	940,082			659,588			2,434,813	1,782,904
Total operating income	102,115			97,316			288,059	297,203
Allowance for equity funds used during construction	2,552			2,427			7,431	6,995
Retirement defined benefits credit—other than service costs	1,039			1,058			3,528	4,709
Allowance for borrowed funds used during construction	825			827			2,401	2,386
Income before income taxes	79,905			78,151			233,602	241,291
Income taxes	17,352			14,265			48,395	48,229
Net income attributable to Hawaiian Electric	62,553			63,886			185,207	193,062
Preferred stock dividends of Hawaiian Electric	471			471			1,417	1,417
Net income for common stock	62,082	$ 52,541	$ 69,167	63,415	$ 63,872	$ 64,358	183,790	191,645
Consolidating adjustments
Expenses
Total expenses				0
Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	955,971			679,499			2,483,636	1,846,242
Expenses
Fuel oil	383,602			180,682			874,543	447,245
Purchased power	225,209			185,759			606,827	490,520
Other operation and maintenance	121,110			116,468			371,259	349,180
Depreciation	58,711			57,386			175,921	172,122
Taxes, other than income taxes	88,290			64,012			231,288	175,185
Total expenses	876,922			604,307			2,259,838	1,634,252
Total operating income	79,049			75,192			223,798	211,990
Allowance for equity funds used during construction	2,552			2,427			7,431	6,995
Equity in earnings of subsidiaries	0			0			0	0
Retirement defined benefits credit—other than service costs	895			877			2,876	2,918
Interest expense and other charges, net	(19,609)			(18,148)			(56,735)	(54,126)
Allowance for borrowed funds used during construction	825			827			2,401	2,386
Income before income taxes	63,712			61,175			179,771	170,163
Income taxes	13,450			10,335			37,967	33,066
Net income	50,262			50,840			141,804	137,097
Preferred stock dividends of subsidiaries	228			228			686	686
Net income attributable to Hawaiian Electric	50,034			50,612			141,118	136,411
Preferred stock dividends of Hawaiian Electric	270			270			810	810
Net income for common stock	49,764	$ 44,135	$ 46,409	50,342	$ 41,901	$ 43,358	140,308	135,601
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric
Condensed Income Statements, Captions [Line Items]
Revenues	693,281			478,046			1,769,995	1,301,297
Expenses
Fuel oil	280,447			126,909			619,169	306,982
Purchased power	171,470			136,688			460,855	370,240
Other operation and maintenance	77,115			75,191			243,478	230,429
Depreciation	39,474			38,912			118,459	116,733
Taxes, other than income taxes	64,051			45,239			165,350	124,167
Total expenses	632,557			422,939			1,607,311	1,148,551
Total operating income	60,724			55,107			162,684	152,746
Allowance for equity funds used during construction	2,063			1,999			5,999	5,677
Equity in earnings of subsidiaries	10,577			12,028			36,475	35,282
Retirement defined benefits credit—other than service costs	760			741			2,471	2,511
Interest expense and other charges, net	(14,221)			(12,943)			(40,833)	(38,604)
Allowance for borrowed funds used during construction	674			676			1,962	1,921
Income before income taxes	60,577			57,608			168,758	159,533
Income taxes	10,543			6,996			27,640	23,122
Net income	50,034			50,612			141,118	136,411
Preferred stock dividends of subsidiaries	0			0			0	0
Net income attributable to Hawaiian Electric	50,034			50,612			141,118	136,411
Preferred stock dividends of Hawaiian Electric	270			270			810	810
Net income for common stock	49,764			50,342			140,308	135,601
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Condensed Income Statements, Captions [Line Items]
Revenues	130,858			100,313			363,888	276,974
Expenses
Fuel oil	40,540			21,104			98,856	57,175
Purchased power	37,263			31,159			106,710	76,992
Other operation and maintenance	21,882			19,964			63,427	57,350
Depreciation	10,350			10,050			31,053	30,151
Taxes, other than income taxes	12,026			9,333			33,436	25,865
Total expenses	122,061			91,610			333,482	247,533
Total operating income	8,797			8,703			30,406	29,441
Allowance for equity funds used during construction	206			131			616	403
Equity in earnings of subsidiaries	0			0			0	0
Retirement defined benefits credit—other than service costs	166			166			500	503
Interest expense and other charges, net	(2,716)			(2,590)			(7,967)	(7,744)
Allowance for borrowed funds used during construction	63			44			190	136
Income before income taxes	6,516			6,454			23,745	22,739
Income taxes	1,424			1,433			5,351	5,152
Net income	5,092			5,021			18,394	17,587
Preferred stock dividends of subsidiaries	133			133			400	400
Net income attributable to Hawaiian Electric	4,959			4,888			17,994	17,187
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income for common stock	4,959			4,888			17,994	17,187
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Condensed Income Statements, Captions [Line Items]
Revenues	131,910			101,141			349,866	267,992
Expenses
Fuel oil	62,615			32,669			156,518	83,088
Purchased power	16,476			17,912			39,262	43,288
Other operation and maintenance	22,113			21,313			64,354	61,401
Depreciation	8,887			8,424			26,409	25,238
Taxes, other than income taxes	12,213			9,440			32,502	25,153
Total expenses	122,304			89,758			319,045	238,168
Total operating income	9,606			11,383			30,821	29,824
Allowance for equity funds used during construction	283			297			816	915
Equity in earnings of subsidiaries	0			0			0	0
Retirement defined benefits credit—other than service costs	(31)			(30)			(95)	(96)
Interest expense and other charges, net	(2,750)			(2,616)			(8,048)	(7,799)
Allowance for borrowed funds used during construction	88			107			249	329
Income before income taxes	7,196			9,141			23,743	23,173
Income taxes	1,483			1,906			4,976	4,792
Net income	5,713			7,235			18,767	18,381
Preferred stock dividends of subsidiaries	95			95			286	286
Net income attributable to Hawaiian Electric	5,618			7,140			18,481	18,095
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income for common stock	5,618			7,140			18,481	18,095
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenues	0			0			0	0
Expenses
Fuel oil	0			0			0	0
Purchased power	0			0			0	0
Other operation and maintenance	0			0			0	0
Depreciation	0			0			0	0
Taxes, other than income taxes	0			0			0	0
Total expenses	0			0			0	0
Total operating income	0			0			0	0
Allowance for equity funds used during construction	0			0			0	0
Equity in earnings of subsidiaries	0			0			0	0
Retirement defined benefits credit—other than service costs	0			0			0	0
Interest expense and other charges, net	0			0			0	0
Allowance for borrowed funds used during construction	0			0			0	0
Income before income taxes	0			0			0	0
Income taxes	0			0			0	0
Net income	0			0			0	0
Preferred stock dividends of subsidiaries	0			0			0	0
Net income attributable to Hawaiian Electric	0			0			0	0
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income for common stock	0			0			0	0
Hawaiian Electric Consolidated | Consolidating adjustments
Condensed Income Statements, Captions [Line Items]
Revenues	(78)			(1)			(113)	(21)
Expenses
Fuel oil	0			0			0	0
Purchased power	0			0			0	0
Other operation and maintenance	0			0			0	0
Depreciation	0			0			0	0
Taxes, other than income taxes	0			0			0	0
Total expenses	0						0	0
Total operating income	(78)			(1)			(113)	(21)
Allowance for equity funds used during construction	0			0			0	0
Equity in earnings of subsidiaries	(10,577)			(12,028)			(36,475)	(35,282)
Retirement defined benefits credit—other than service costs	0			0			0	0
Interest expense and other charges, net	78			1			113	21
Allowance for borrowed funds used during construction	0			0			0	0
Income before income taxes	(10,577)			(12,028)			(36,475)	(35,282)
Income taxes	0			0			0	0
Net income	(10,577)			(12,028)			(36,475)	(35,282)
Preferred stock dividends of subsidiaries	0			0			0	0
Net income attributable to Hawaiian Electric	(10,577)			(12,028)			(36,475)	(35,282)
Preferred stock dividends of Hawaiian Electric	0			0			0	0
Net income for common stock	$ (10,577)			$ (12,028)			$ (36,475)	$ (35,282)

Electric utility segment - Co_2

Electric utility segment - Condensed consolidating statement of comprehensive income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Condensed Statement of Income Captions [Line Items]
Net income for common stock	$ 62,082	$ 52,541	$ 69,167	$ 63,415	$ 63,872	$ 64,358	$ 183,790	$ 191,645
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	5,606			2,853			10,229	14,871
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(5,303)			(2,799)			(9,572)	(14,421)
Other comprehensive loss, net of taxes	(96,012)	(87,840)	(117,159)	(11,305)	16,472	(44,016)	(301,011)	(38,849)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(33,930)			52,110			(117,221)	152,796
Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income for common stock	49,764	44,135	46,409	50,342	41,901	43,358	140,308	135,601
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	5,411			2,905			9,782	14,596
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(5,303)			(2,799)			(9,572)	(14,421)
Other comprehensive loss, net of taxes	108	$ 51	$ 51	106	$ 35	$ 34	210	175
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	49,872			50,448			140,518	135,776
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric
Condensed Statement of Income Captions [Line Items]
Net income for common stock	49,764			50,342			140,308	135,601
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	5,411			2,905			9,782	14,596
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(5,303)			(2,799)			(9,572)	(14,421)
Other comprehensive loss, net of taxes	108			106			210	175
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	49,872			50,448			140,518	135,776
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Condensed Statement of Income Captions [Line Items]
Net income for common stock	4,959			4,888			17,994	17,187
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	768			393			1,366	2,062
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(766)			(391)			(1,362)	(2,059)
Other comprehensive loss, net of taxes	2			2			4	3
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	4,961			4,890			17,998	17,190
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Condensed Statement of Income Captions [Line Items]
Net income for common stock	5,618			7,140			18,481	18,095
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	732			393			1,938	1,915
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(733)			(393)			(1,938)	(1,915)
Other comprehensive loss, net of taxes	(1)			0			0	0
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	5,617			7,140			18,481	18,095
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
Condensed Statement of Income Captions [Line Items]
Net income for common stock	0			0			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 taxes	0			0				0
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	0			0				0
Other comprehensive loss, net of taxes	0			0			0	0
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	0			0			0	0
Hawaiian Electric Consolidated | Consolidating adjustments
Condensed Statement of Income Captions [Line Items]
Net income for common stock	(10,577)			(12,028)			(36,475)	(35,282)
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	(1,500)			(786)			(3,304)	(3,977)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	1,499			784			3,300	3,974
Other comprehensive loss, net of taxes	(1)			(2)			(4)	(3)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ (10,578)			$ (12,030)			$ (36,479)	$ (35,285)

Electric utility segment - Co_3

Electric utility segment - Condensed consolidating balance sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Utility property, plant and equipment
Total property, plant and equipment, net	$ 5,599,937			$ 5,392,068
Current assets
Cash and cash equivalents	175,280			305,551	$ 227,923
Restricted cash	3,898			5,911	9,412
Other long-term assets
Operating lease right-of-use assets	121,302			122,416
Total assets	16,264,868			15,822,637
Capitalization
Common stock equity	2,162,922	$ 2,233,504	$ 2,303,642	2,390,884	2,383,543	$ 2,367,329	$ 2,321,293	$ 2,337,502
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293			34,293
Current liabilities
Interest and preferred dividends payable	36,158			19,889
Deferred credits and other liabilities
Deferred income taxes	263,929			384,760
Total liabilities and shareholders’ equity	16,264,868			15,822,637
Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	52,060			51,937
Plant and equipment	7,890,926			7,735,983
Right-of-use assets - finance lease	48,371			0
Less accumulated depreciation	(3,067,642)			(2,940,517)
Construction in progress	257,582			204,569
Utility property, plant and equipment, net	5,181,297			5,051,972
Nonutility property, plant and equipment, less accumulated depreciation	6,946			6,949
Total property, plant and equipment, net	5,188,243			5,058,921
Investment in wholly owned subsidiaries, at equity	0			0
Current assets
Cash and cash equivalents	21,304			52,169	36,467
Restricted cash	0			3,089	6,313
Advances to affiliates	0			0
Customer accounts receivable, net	258,972			186,859
Accrued unbilled revenues, net	220,420			129,155
Other accounts receivable, net	15,492			7,267
Fuel oil stock, at average cost	229,725			104,078
Materials and supplies, at average cost	77,579			71,877
Prepayments and other	45,798			46,031
Regulatory assets	55,906			66,664
Total current assets	925,196			667,189
Other long-term assets
Operating lease right-of-use assets	93,709			101,470
Regulatory assets	441,282			498,879
Other	158,116			165,166
Total other long-term assets	693,107			765,515
Total assets	6,806,546			6,491,625
Capitalization
Common stock equity	2,307,992	$ 2,289,595	$ 2,276,884	2,261,899	2,193,919	$ 2,171,396	$ 2,157,385	2,141,918
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293			34,293
Long-term debt, net	1,684,699			1,624,427
Total capitalization	4,026,984			3,920,619
Current liabilities
Current portion of operating lease liabilities	18,572			49,368
Current portion of long-term debt	51,995			51,975
Short-term borrowings from non-affiliates	97,450			0
Short-term borrowings from affiliate	0			0
Accounts payable	165,461			160,007
Interest and preferred dividends payable	29,164			17,325
Taxes accrued, including revenue taxes	256,343			208,280
Regulatory liabilities	29,318			29,760
Other	79,788			71,569
Total current liabilities	728,091			588,284
Deferred credits and other liabilities
Operating lease liabilities	83,311			65,780
Finance lease liabilities	46,468			0
Deferred income taxes	392,176			408,634
Regulatory liabilities	1,001,058			967,008
Unamortized tax credits	98,001			103,945
Defined benefit pension and other postretirement benefit plans liability	308,133			321,780
Other	122,324			115,575
Total deferred credits and other liabilities	2,051,471			1,982,722
Total liabilities and shareholders’ equity	6,806,546			6,491,625
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric
Utility property, plant and equipment
Land	42,860			42,737
Plant and equipment	5,218,701			5,097,033
Right-of-use assets - finance lease	48,371
Less accumulated depreciation	(1,845,767)			(1,757,096)
Construction in progress	197,033			159,854
Utility property, plant and equipment, net	3,661,198			3,542,528
Nonutility property, plant and equipment, less accumulated depreciation	5,300			5,302
Total property, plant and equipment, net	3,666,498			3,547,830
Investment in wholly owned subsidiaries, at equity	689,016			676,237
Current assets
Cash and cash equivalents	13,295			23,344	25,981
Restricted cash				3,089	6,313
Advances to affiliates	0			1,000
Customer accounts receivable, net	181,813			135,949
Accrued unbilled revenues, net	167,037			92,469
Other accounts receivable, net	26,795			18,624
Fuel oil stock, at average cost	184,981			71,184
Materials and supplies, at average cost	45,405			42,006
Prepayments and other	33,628			32,140
Regulatory assets	50,074			58,695
Total current assets	703,028			478,500
Other long-term assets
Operating lease right-of-use assets	44,802			78,710
Regulatory assets	298,759			337,903
Other	119,348			130,546
Total other long-term assets	462,909			547,159
Total assets	5,521,451			5,249,726
Capitalization
Common stock equity	2,307,992			2,261,899	2,193,919			2,141,918
Preferred stock of subsidiaries - not subject to mandatory redemption	22,293			22,293
Long-term debt, net	1,176,814			1,136,620
Total capitalization	3,507,099			3,420,812
Current liabilities
Current portion of operating lease liabilities	9,371			45,955
Current portion of long-term debt	39,996			39,981
Short-term borrowings from non-affiliates	97,450
Short-term borrowings from affiliate	17,500			0
Accounts payable	117,259			111,024
Interest and preferred dividends payable	20,800			12,442
Taxes accrued, including revenue taxes	181,935			143,723
Regulatory liabilities	15,349			22,240
Other	62,303			56,752
Total current liabilities	561,963			432,117
Deferred credits and other liabilities
Operating lease liabilities	43,275			46,426
Finance lease liabilities	46,468
Deferred income taxes	278,230			291,027
Regulatory liabilities	725,346			695,152
Unamortized tax credits	71,916			76,201
Defined benefit pension and other postretirement benefit plans liability	211,560			220,480
Other	75,594			67,511
Total deferred credits and other liabilities	1,452,389			1,396,797
Total liabilities and shareholders’ equity	5,521,451			5,249,726
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Utility property, plant and equipment
Land	5,606			5,606
Plant and equipment	1,403,784			1,390,361
Right-of-use assets - finance lease	0
Less accumulated depreciation	(640,257)			(619,991)
Construction in progress	25,671			17,129
Utility property, plant and equipment, net	794,804			793,105
Nonutility property, plant and equipment, less accumulated depreciation	114			115
Total property, plant and equipment, net	794,918			793,220
Investment in wholly owned subsidiaries, at equity	0			0
Current assets
Cash and cash equivalents	5,154			5,326	3,788
Restricted cash				0	0
Advances to affiliates	1,500			0
Customer accounts receivable, net	40,566			28,469
Accrued unbilled revenues, net	26,508			19,529
Other accounts receivable, net	4,615			3,347
Fuel oil stock, at average cost	20,817			12,814
Materials and supplies, at average cost	10,621			9,727
Prepayments and other	6,731			6,052
Regulatory assets	2,397			3,051
Total current assets	118,909			88,315
Other long-term assets
Operating lease right-of-use assets	35,953			22,442
Regulatory assets	73,845			81,645
Other	18,831			17,124
Total other long-term assets	128,629			121,211
Total assets	1,042,456			1,002,746
Capitalization
Common stock equity	338,598			332,900	323,691			317,451
Preferred stock of subsidiaries - not subject to mandatory redemption	7,000			7,000
Long-term debt, net	244,417			234,390
Total capitalization	590,015			574,290
Current liabilities
Current portion of operating lease liabilities	6,611			3,378
Current portion of long-term debt	11,999			11,994
Short-term borrowings from non-affiliates	0
Short-term borrowings from affiliate	0			1,000
Accounts payable	26,043			26,139
Interest and preferred dividends payable	3,822			2,617
Taxes accrued, including revenue taxes	39,023			33,153
Regulatory liabilities	6,451			3,247
Other	18,022			14,158
Total current liabilities	111,971			95,686
Deferred credits and other liabilities
Operating lease liabilities	29,517			19,063
Finance lease liabilities	0
Deferred income taxes	50,774			53,298
Regulatory liabilities	183,073			179,267
Unamortized tax credits	13,354			14,212
Defined benefit pension and other postretirement benefit plans liability	46,584			48,900
Other	17,168			18,030
Total deferred credits and other liabilities	340,470			332,770
Total liabilities and shareholders’ equity	1,042,456			1,002,746
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Utility property, plant and equipment
Land	3,594			3,594
Plant and equipment	1,268,441			1,248,589
Right-of-use assets - finance lease	0
Less accumulated depreciation	(581,618)			(563,430)
Construction in progress	34,878			27,586
Utility property, plant and equipment, net	725,295			716,339
Nonutility property, plant and equipment, less accumulated depreciation	1,532			1,532
Total property, plant and equipment, net	726,827			717,871
Investment in wholly owned subsidiaries, at equity	0			0
Current assets
Cash and cash equivalents	2,778			23,422	6,621
Restricted cash				0	0
Advances to affiliates	16,000			0
Customer accounts receivable, net	36,593			22,441
Accrued unbilled revenues, net	26,875			17,157
Other accounts receivable, net	4,691			3,031
Fuel oil stock, at average cost	23,927			20,080
Materials and supplies, at average cost	21,553			20,144
Prepayments and other	6,611			7,114
Regulatory assets	3,435			4,918
Total current assets	142,463			118,307
Other long-term assets
Operating lease right-of-use assets	12,954			318
Regulatory assets	68,678			79,331
Other	20,233			18,510
Total other long-term assets	101,865			98,159
Total assets	971,155			934,337
Capitalization
Common stock equity	350,341			343,260	316,132			309,363
Preferred stock of subsidiaries - not subject to mandatory redemption	5,000			5,000
Long-term debt, net	263,468			253,417
Total capitalization	618,809			601,677
Current liabilities
Current portion of operating lease liabilities	2,590			35
Current portion of long-term debt	0			0
Short-term borrowings from non-affiliates	0
Short-term borrowings from affiliate	0			0
Accounts payable	22,159			22,844
Interest and preferred dividends payable	4,583			2,269
Taxes accrued, including revenue taxes	36,557			30,679
Regulatory liabilities	7,518			4,273
Other	20,188			18,540
Total current liabilities	93,595			78,640
Deferred credits and other liabilities
Operating lease liabilities	10,519			291
Finance lease liabilities	0
Deferred income taxes	63,172			64,309
Regulatory liabilities	92,639			92,589
Unamortized tax credits	12,731			13,532
Defined benefit pension and other postretirement benefit plans liability	50,128			53,257
Other	29,562			30,042
Total deferred credits and other liabilities	258,751			254,020
Total liabilities and shareholders’ equity	971,155			934,337
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
Utility property, plant and equipment
Land	0			0
Plant and equipment	0			0
Right-of-use assets - finance lease	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	77			77	77
Restricted cash				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	77			77
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	77			77
Capitalization
Common stock equity	77			77	77			77
Preferred stock of subsidiaries - not subject to mandatory redemption	0			0
Long-term debt, net	0			0
Total capitalization	77			77
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
Short-term borrowings from affiliate	0			0
Accounts payable	0			0
Interest and preferred dividends payable	0			0
Taxes accrued, including revenue taxes	0			0
Regulatory liabilities	0			0
Other	0			0
Total current liabilities	0			0
Deferred credits and other liabilities
Operating lease liabilities	0			0
Finance lease liabilities	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
Total deferred credits and other liabilities	0			0
Total liabilities and shareholders’ equity	77			77
Hawaiian Electric Consolidated | Consolidating adjustments
Utility property, plant and equipment
Land	0			0
Plant and equipment	0			0
Right-of-use assets - finance lease	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	(689,016)			(676,237)
Current assets
Cash and cash equivalents	0			0	0
Restricted cash				0	0
Advances to affiliates	(17,500)			(1,000)
Customer accounts receivable, net	0			0
Accrued unbilled revenues, net	0			0
Other accounts receivable, net	(20,609)			(17,735)
Fuel oil stock, at average cost	0			0
Materials and supplies, at average cost	0			0
Prepayments and other	(1,172)			725
Regulatory assets	0			0
Total current assets	(39,281)			(18,010)
Other long-term assets
Operating lease right-of-use assets	0			0
Regulatory assets	0			0
Other	(296)			(1,014)
Total other long-term assets	(296)			(1,014)
Total assets	(728,593)			(695,261)
Capitalization
Common stock equity	(689,016)			(676,237)	$ (639,900)			$ (626,891)
Preferred stock of subsidiaries - not subject to mandatory redemption	0			0
Long-term debt, net	0			0
Total capitalization	(689,016)			(676,237)
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
Short-term borrowings from affiliate	(17,500)			(1,000)
Accounts payable	0			0
Interest and preferred dividends payable	(41)			(3)
Taxes accrued, including revenue taxes	(1,172)			725
Regulatory liabilities	0			0
Other	(20,725)			(17,881)
Total current liabilities	(39,438)			(18,159)
Deferred credits and other liabilities
Operating lease liabilities	0			0
Finance lease liabilities	0
Deferred income taxes	0			0
Regulatory liabilities	0			0
Unamortized tax credits	0			0
Defined benefit pension and other postretirement benefit plans liability	(139)			(857)
Other	0			(8)
Total deferred credits and other liabilities	(139)			(865)
Total liabilities and shareholders’ equity	$ (728,593)			$ (695,261)

Electric utility segment - Co_4

Electric utility segment - Condensed consolidating statement of changes in common stock equity (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Increase (decrease) in stockholders' equity
Beginning balance	$ 2,233,504	$ 2,303,642	$ 2,390,884	$ 2,367,329	$ 2,321,293	$ 2,337,502	$ 2,390,884	$ 2,337,502
Net income for common stock	62,082	52,541	69,167	63,415	63,872	64,358	183,790	191,645
Other comprehensive income, net of taxes	(96,012)	(87,840)	(117,159)	(11,305)	16,472	(44,016)	(301,011)	(38,849)
Common stock dividends	(38,315)	(38,301)	(38,301)	(37,166)	(37,155)	(37,156)
Ending balance	2,162,922	2,233,504	2,303,642	2,383,543	2,367,329	2,321,293	2,162,922	2,383,543
Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance	2,289,595	2,276,884	2,261,899	2,171,396	2,157,385	2,141,918	2,261,899	2,141,918
Net income for common stock	49,764	44,135	46,409	50,342	41,901	43,358	140,308	135,601
Other comprehensive income, net of taxes	108	51	51	106	35	34	210	175
Common stock dividends	(31,475)	(31,475)	(31,475)	(27,925)	(27,925)	(27,925)	(94,425)	(83,775)
Ending balance	2,307,992	$ 2,289,595	2,276,884	2,193,919	$ 2,171,396	2,157,385	2,307,992	2,193,919
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric
Increase (decrease) in stockholders' equity
Beginning balance			2,261,899			2,141,918	2,261,899	2,141,918
Net income for common stock	49,764			50,342			140,308	135,601
Other comprehensive income, net of taxes	108			106			210	175
Common stock dividends							(94,425)	(83,775)
Ending balance	2,307,992			2,193,919			2,307,992	2,193,919
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Increase (decrease) in stockholders' equity
Beginning balance			332,900			317,451	332,900	317,451
Net income for common stock	4,959			4,888			17,994	17,187
Other comprehensive income, net of taxes	2			2			4	3
Common stock dividends							(12,300)	(10,950)
Ending balance	338,598			323,691			338,598	323,691
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Increase (decrease) in stockholders' equity
Beginning balance			343,260			309,363	343,260	309,363
Net income for common stock	5,618			7,140			18,481	18,095
Other comprehensive income, net of taxes	(1)			0			0	0
Common stock dividends							(11,400)	(11,326)
Ending balance	350,341			316,132			350,341	316,132
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
Increase (decrease) in stockholders' equity
Beginning balance			77			77	77	77
Net income for common stock	0			0			0	0
Other comprehensive income, net of taxes	0			0			0	0
Ending balance	77			77			77	77
Hawaiian Electric Consolidated | Consolidating adjustments
Increase (decrease) in stockholders' equity
Beginning balance			$ (676,237)			$ (626,891)	(676,237)	(626,891)
Net income for common stock	(10,577)			(12,028)			(36,475)	(35,282)
Other comprehensive income, net of taxes	(1)			(2)			(4)	(3)
Common stock dividends							23,700	22,276
Ending balance	$ (689,016)			$ (639,900)			$ (689,016)	$ (639,900)

Electric utility segment - Co_5

Electric utility segment - Condensed consolidating statement of cash flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Cash flows from operating activities
Net cash provided by operating activities	$ 212,987	$ 267,205
Cash flows from investing activities
Capital expenditures	(236,278)	(219,252)
Other	15,646	10,078
Net cash used in investing activities	(794,762)	(984,839)
Cash flows from financing activities
Common stock dividends	(114,917)	(111,477)
Repayment of short-term debt	0	(65,000)
Proceeds from issuance of long-term debt	67,312	206,988
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	320,735	39,635
Other	(6,112)	(7,462)
Net cash provided by financing activities	449,491	595,990
Net decrease in cash, cash equivalents and restricted cash	(132,284)	(121,644)
Cash, cash equivalents and restricted cash, beginning of period	311,462	358,979
Cash, cash equivalents and restricted cash, end of period	179,178	237,335
Less: Restricted cash	(3,898)	(9,412)	$ (5,911)
Cash and cash equivalents	175,280	227,923	305,551
Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by operating activities	124,167	198,256
Cash flows from investing activities
Capital expenditures	(225,876)	(203,746)
Advances to affiliates	0	0
Other	6,750	6,157
Net cash used in investing activities	(219,126)	(197,589)
Cash flows from financing activities
Common stock dividends	(94,425)	(83,775)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(1,496)	(1,496)
Repayment of short-term debt	0	(50,000)
Proceeds from issuance of long-term debt	60,000	115,000
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	97,450	0
Payments of obligations under finance leases	(266)	0
Other	(258)	(942)
Net cash provided by financing activities	61,005	(21,213)
Net decrease in cash, cash equivalents and restricted cash	(33,954)	(20,546)
Cash, cash equivalents and restricted cash, beginning of period	55,258	63,326
Cash, cash equivalents and restricted cash, end of period	21,304	42,780
Less: Restricted cash	0	(6,313)	(3,089)
Cash and cash equivalents	21,304	36,467	52,169
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric
Cash flows from operating activities
Net cash provided by operating activities	74,053	157,191
Cash flows from investing activities
Capital expenditures	(152,015)	(137,916)
Advances to affiliates	1,000	26,000
Other	4,545	4,136
Net cash used in investing activities	(146,470)	(107,780)
Cash flows from financing activities
Common stock dividends	(94,425)	(83,775)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(810)	(810)
Repayment of short-term debt		(50,000)
Proceeds from issuance of long-term debt	40,000	60,000
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	114,950	0
Payments of obligations under finance leases	(266)
Other	(170)	(703)
Net cash provided by financing activities	59,279	(75,288)
Net decrease in cash, cash equivalents and restricted cash	(13,138)	(25,877)
Cash, cash equivalents and restricted cash, beginning of period	26,433	58,171
Cash, cash equivalents and restricted cash, end of period	13,295	32,294
Less: Restricted cash		(6,313)	(3,089)
Cash and cash equivalents	13,295	25,981	23,344
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Cash flows from operating activities
Net cash provided by operating activities	38,302	32,698
Cash flows from investing activities
Capital expenditures	(34,055)	(33,511)
Advances to affiliates	(1,500)	0
Other	825	1,121
Net cash used in investing activities	(34,730)	(32,390)
Cash flows from financing activities
Common stock dividends	(12,300)	(10,950)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(400)	(400)
Repayment of short-term debt		0
Proceeds from issuance of long-term debt	10,000	30,000
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	(1,000)	(18,100)
Payments of obligations under finance leases	0
Other	(44)	(116)
Net cash provided by financing activities	(3,744)	434
Net decrease in cash, cash equivalents and restricted cash	(172)	742
Cash, cash equivalents and restricted cash, beginning of period	5,326	3,046
Cash, cash equivalents and restricted cash, end of period	5,154	3,788
Less: Restricted cash		0	0
Cash and cash equivalents	5,154	3,788	5,326
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Cash flows from operating activities
Net cash provided by operating activities	35,512	30,643
Cash flows from investing activities
Capital expenditures	(39,806)	(32,319)
Advances to affiliates	(16,000)	0
Other	1,380	900
Net cash used in investing activities	(54,426)	(31,419)
Cash flows from financing activities
Common stock dividends	(11,400)	(11,326)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(286)	(286)
Repayment of short-term debt		0
Proceeds from issuance of long-term debt	10,000	25,000
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	0	(7,900)
Payments of obligations under finance leases	0
Other	(44)	(123)
Net cash provided by financing activities	(1,730)	5,365
Net decrease in cash, cash equivalents and restricted cash	(20,644)	4,589
Cash, cash equivalents and restricted cash, beginning of period	23,422	2,032
Cash, cash equivalents and restricted cash, end of period	2,778	6,621
Less: Restricted cash		0	0
Cash and cash equivalents	2,778	6,621	23,422
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
Cash flows from operating activities
Net cash provided by operating activities	0	0
Cash flows from investing activities
Capital expenditures	0	0
Advances 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
Repayment of short-term debt		0
Proceeds from issuance of long-term debt	0	0
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	0	0
Payments of obligations under finance leases	0
Other	0	0
Net cash provided by financing activities	0	0
Net decrease in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	77	77
Cash, cash equivalents and restricted cash, end of period	77	77
Less: Restricted cash		0	0
Cash and cash equivalents	77	77	77
Hawaiian Electric Consolidated | Consolidating adjustments
Cash flows from operating activities
Net cash provided by operating activities	(23,700)	(22,276)
Cash flows from investing activities
Capital expenditures	0	0
Advances to affiliates	16,500	(26,000)
Other	0	0
Net cash used in investing activities	16,500	(26,000)
Cash flows from financing activities
Common stock dividends	23,700	22,276
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	0
Repayment of short-term debt		0
Proceeds from issuance of long-term debt	0	0
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	(16,500)	26,000
Payments of obligations under finance leases	0
Other	0	0
Net cash provided by financing activities	7,200	48,276
Net decrease 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	$ 0	$ 0	$ 0

Bank segment - Income statement

Bank segment - Income statement data (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Noninterest income
Noninterest income	$ 990,338			$ 690,618			$ 2,527,153	$ 1,836,745
Noninterest expense
Income before income taxes	79,905			78,151			233,602	241,291
Income taxes	17,352			14,265			48,395	48,229
Net income attributable to Hawaiian Electric	62,553			63,886			185,207	193,062
Other comprehensive (loss) income, net of tax benefits	(96,012)	$ (87,840)	$ (117,159)	(11,305)	$ 16,472	$ (44,016)	(301,011)	(38,849)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(33,930)			52,110			(117,221)	152,796
American Savings Bank (ASB)
Interest and dividend income
Interest and fees on loans	53,365			49,445			147,499	150,418
Interest and dividends on investment securities	15,052			11,996			43,729	31,709
Total interest and dividend income	68,417			61,441			191,228	182,127
Interest expense
Interest on deposit liabilities	1,704			1,176			3,572	3,919
Interest on other borrowings	1,055			5			1,199	55
Total interest expense	2,759			1,181			4,771	3,974
Net interest income	65,658			60,260			186,457	178,153
Provision for credit losses	(186)			(1,725)			(692)	(22,367)
Net interest income after provision for credit losses	65,844			61,985			187,149	200,520
Noninterest income
Gain on sale of real estate	0			0			1,002	0
Total noninterest income	12,994			14,767			41,624	49,000
Noninterest expense
Compensation and employee benefits	28,597			30,888			83,478	86,595
Occupancy	5,577			5,157			16,996	15,226
Data processing	4,509			4,278			13,144	13,162
Services	2,751			2,272			7,712	7,609
Equipment	2,432			2,373			7,163	6,989
Office supplies, printing and postage	1,123			1,072			3,256	3,094
Marketing	925			995			2,877	2,308
FDIC insurance	914			808			2,613	2,412
Other expense	4,729			3,668			11,929	9,790
Total noninterest expense	51,557			51,511			149,168	147,185
Income before income taxes	27,281			25,241			79,605	102,335
Income taxes	6,525			5,976			17,513	23,230
Net income attributable to Hawaiian Electric	20,756			19,265			62,092	79,105
Other comprehensive (loss) income, net of tax benefits	(98,942)			(11,684)			(310,218)	(40,439)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(78,186)			7,581			(248,126)	38,666
American Savings Bank (ASB) | Fees from other financial services
Noninterest income
Noninterest income	4,763			4,800			15,066	15,337
American Savings Bank (ASB) | Fee income on deposit liabilities
Noninterest income
Noninterest income	4,879			4,262			14,122	12,029
American Savings Bank (ASB) | Fee income on other financial products
Noninterest income
Noninterest income	2,416			2,124			7,663	6,767
American Savings Bank (ASB) | Bank-owned life insurance
Noninterest income
Noninterest income	122			2,026			661	6,211
American Savings Bank (ASB) | Mortgage banking income
Noninterest income
Noninterest income	181			1,272			1,630	7,497
American Savings Bank (ASB) | Gain on sale of investment securities, net
Noninterest income
Noninterest income	0			0			0	528
American Savings Bank (ASB) | Other income, net
Noninterest income
Noninterest income	$ 633			$ 283			$ 1,480	$ 631

Bank segment - Reconciliation o

Bank segment - Reconciliation of income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Condensed Income Statements, Captions [Line Items]
Less: Gain on sale of investment securities, net	$ 0	$ 0	$ 8,123	$ 528
Revenues	1,042,197	756,904	2,722,872	2,080,107
Less: Retirement defined benefits credit—other than service costs	(1,039)	(1,058)	(3,528)	(4,709)
Total expenses	940,082	659,588	2,434,813	1,782,904
Operating income - bank	102,115	97,316	288,059	297,203
Income before income taxes	79,905	78,151	233,602	241,291
American Savings Bank (ASB)
Condensed Income Statements, Captions [Line Items]
Interest and dividend income	68,417	61,441	191,228	182,127
Noninterest income	12,994	14,767	41,624	49,000
Less: Gain on sale of real estate	0	0	1,002	0
Less: Gain on sale of investment securities, net	0	0	0	528
Revenues	81,411	76,208	231,850	230,599
Total interest expense	2,759	1,181	4,771	3,974
Provision for credit losses	(186)	(1,725)	(692)	(22,367)
Noninterest expense	51,557	51,511	149,168	147,185
Less: Retirement defined benefits credit—other than service costs	(181)	(184)	(552)	(1,648)
Total expenses	54,311	51,151	152,797	130,440
Operating income - bank	27,100	25,057	79,053	100,159
Income before income taxes	$ 27,281	$ 25,241	$ 79,605	$ 102,335

Bank segment - Balance sheet da

Bank segment - Balance sheet data (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 175,280			$ 305,551	$ 227,923
Investment securities
Available-for-sale investment securities, at fair value	2,232,336			2,574,618
Held-to-maturity, at amortized cost (fair value of $411,191 and $510,474, respectively)	510,879			522,270
Held-to-maturity investment securities	411,191
Stock in Federal Home Loan Bank, at cost	15,000			10,000
Allowance for credit losses	(70,406)	$ (69,456)		(71,130)	(75,944)	$ (78,252)		$ (101,201)
Total loans, net	5,616,984			5,139,984
Loans held for sale, at lower of cost or fair value	3,101			10,404
Other assets	886,999			747,469
Goodwill	82,190			82,190
Total assets	16,264,868			15,822,637
Liabilities and shareholder’s equity
Other	740,447			669,215
Total liabilities	14,067,653			13,397,460
Retained earnings	826,794			757,921
Accumulated other comprehensive loss, net of tax benefits
Accumulated other comprehensive loss, net of tax benefits	(353,544)			(52,533)
Total shareholders’ equity	2,162,922	$ 2,233,504	$ 2,303,642	2,390,884	$ 2,383,543	$ 2,367,329	$ 2,321,293	$ 2,337,502
Total liabilities and shareholders’ equity	16,264,868			15,822,637
Other assets
Premises and equipment, net	5,599,937			5,392,068
Other assets	886,999			747,469
Other liabilities
Other liabilities	740,447			669,215
American Savings Bank (ASB)
Assets
Cash and due from banks	143,618			100,051
Interest-bearing deposits	6,179			151,189
Cash and cash equivalents	149,797			251,240
Investment securities
Available-for-sale investment securities, at fair value	2,232,336			2,574,618
Held-to-maturity, at amortized cost (fair value of $411,191 and $510,474, respectively)	510,879			522,270
Held-to-maturity investment securities	411,191			510,474
Stock in Federal Home Loan Bank, at cost	15,000			10,000
Loans held for investment	5,687,390			5,211,114
Allowance for credit losses	(70,406)			(71,130)
Total loans, net	5,616,984			5,139,984
Loans held for sale, at lower of cost or fair value	3,101			10,404
Other assets	705,324			590,897
Goodwill	82,190			82,190
Total assets	9,315,611			9,181,603
Liabilities and shareholder’s equity
Deposit liabilities—noninterest-bearing	2,921,857			2,976,632
Deposit liabilities—interest-bearing	5,337,028			5,195,580
Other borrowings	409,040			88,305
Other	198,596			193,268
Total liabilities	8,866,521			8,453,785
Common stock	1			1
Additional paid-in capital	355,293			353,895
Retained earnings	441,796			411,704
Accumulated other comprehensive loss, net of tax benefits
Net unrealized losses on securities	(340,266)			(32,037)
Retirement benefit plans	(7,734)			(5,745)
Accumulated other comprehensive loss, net of tax benefits	(348,000)			(37,782)
Total shareholders’ equity	449,090			727,818
Total liabilities and shareholders’ equity	9,315,611			9,181,603
Other assets
Bank-owned life insurance	181,107			177,566
Premises and equipment, net	196,035			202,299
Accrued interest receivable	23,140			20,854
Mortgage-servicing rights	9,351			9,950
Low-income housing investments	110,700			110,989
Real estate acquired in settlement of loans, net	271			0
Real estate held for sale	3,030			0
Deferred tax asset	120,442			7,699
Other	61,248			61,540
Other assets	705,324			590,897
Other liabilities
Accrued expenses	94,782			87,905
Cashier’s checks	36,393			33,675
Advance payments by borrowers	4,488			9,994
Other	62,933			61,694
Other liabilities	$ 198,596			$ 193,268

Bank segment - Narrative (Detai

Bank segment - Narrative (Details)	1 Months Ended		9 Months Ended
	Nov. 30, 2022 security	Oct. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Allowance for credit losses
Securities sold under agreements to repurchase			$ 284,000,000		$ 88,000,000
American Savings Bank (ASB)
Allowance for credit losses
Advances from the FHLB			125,000,000		0
Securities sold under agreements to repurchase			$ 284,000,000		$ 88,300,000
Minimum benchmark percentage of loan to appraisal ratio which mortgage insurance is required			80%
Minimum benchmark percentage of loan to appraisal ratio on non-owner occupied residential property			75%
American Savings Bank (ASB) | Subsequent Event
Allowance for credit losses
Number of available-for-sale investment securities transferred | security	66
Available-for-sale and held-to-maturity, fair value		$ 755,000,000
Gross realized losses on available-for-sale securities		$ 206,000,000
Home equity line of credit
Allowance for credit losses
Conversion of debt			$ 12,900,000	$ 13,600,000
Commercial
Allowance for credit losses
Conversion of debt			1,600,000	1,600,000
Consumer
Allowance for credit losses
Conversion of debt			$ 2,700,000	$ 1,900,000

Bank segment - Components of in

Bank segment - Components of investment securities (Details) $ in Thousands	Sep. 30, 2022 USD ($) issue	Dec. 31, 2021 USD ($) issue
Available-for-sale
Amortized cost	$ 2,697,168
Available-for-sale investment securities, at fair value	2,232,336	$ 2,574,618
Held-to-maturity
Amortized cost	510,879	522,270
Held-to-maturity investment securities	411,191
American Savings Bank (ASB)
Available-for-sale
Amortized cost	2,697,168	2,618,384
Gross unrealized gains	13	7,969
Gross unrealized losses	(464,845)	(51,735)
Available-for-sale investment securities, at fair value	$ 2,232,336	$ 2,574,618
Gross unrealized losses, less than 12 months, number of issues | issue	160	125
Gross unrealized losses, less than 12 months, fair value	$ 853,914	$ 1,902,850
Gross unrealized losses, less than 12 months, amount	$ (120,203)	$ (38,850)
Gross unrealized losses, 12 months or longer, number of issues | issue	110	18
Gross unrealized losses, 12 months or longer, fair value	$ 1,360,712	$ 271,012
Gross unrealized losses, 12 months or more, amount	(344,642)	(12,885)
Held-to-maturity
Amortized cost	510,879	522,270
Gross unrealized gains	0	1,648
Gross unrealized losses	(99,688)	(13,444)
Held-to-maturity investment securities	$ 411,191	$ 510,474
Less than 12 months, number of issues | issue	15	24
Less than 12 months, fair value	$ 125,039	$ 330,477
Less than 12 months, amount	$ (25,154)	$ (7,835)
12 months or longer, number of issues | issue	25	7
12 months or longer: fair value	$ 286,152	$ 106,483
12 months or longer, amount	(74,534)	(5,609)
U.S. Treasury and federal agency obligations | American Savings Bank (ASB)
Available-for-sale
Amortized cost	104,278	89,714
Gross unrealized gains	0	803
Gross unrealized losses	(7,865)	(427)
Available-for-sale investment securities, at fair value	$ 96,413	$ 90,090
Gross unrealized losses, less than 12 months, number of issues | issue	16	4
Gross unrealized losses, less than 12 months, fair value	$ 78,651	$ 44,827
Gross unrealized losses, less than 12 months, amount	$ (5,672)	$ (427)
Gross unrealized losses, 12 months or longer, number of issues | issue	1	0
Gross unrealized losses, 12 months or longer, fair value	$ 17,762	$ 0
Gross unrealized losses, 12 months or more, amount	(2,193)	0
Held-to-maturity
Amortized cost	59,888	59,871
Gross unrealized gains	0	168
Gross unrealized losses	(8,918)	(170)
Held-to-maturity investment securities	$ 50,970	$ 59,869
Less than 12 months, number of issues | issue	2	2
Less than 12 months, fair value	$ 33,821	$ 39,594
Less than 12 months, amount	$ (6,106)	$ (170)
12 months or longer, number of issues | issue	1	0
12 months or longer: fair value	$ 17,149	$ 0
12 months or longer, amount	(2,812)	0
Mortgage-backed securities | American Savings Bank (ASB)
Available-for-sale
Amortized cost	2,533,445	2,482,618
Gross unrealized gains	13	6,511
Gross unrealized losses	(452,503)	(51,206)
Available-for-sale investment securities, at fair value	$ 2,080,955	$ 2,437,923
Gross unrealized losses, less than 12 months, number of issues | issue	139	120
Gross unrealized losses, less than 12 months, fair value	$ 735,328	$ 1,845,243
Gross unrealized losses, less than 12 months, amount	$ (110,054)	$ (38,321)
Gross unrealized losses, 12 months or longer, number of issues | issue	109	18
Gross unrealized losses, 12 months or longer, fair value	$ 1,342,950	$ 271,012
Gross unrealized losses, 12 months or more, amount	(342,449)	(12,885)
Held-to-maturity
Amortized cost	450,991	462,399
Gross unrealized gains	0	1,480
Gross unrealized losses	(90,770)	(13,274)
Held-to-maturity investment securities	$ 360,221	$ 450,605
Less than 12 months, number of issues | issue	13	22
Less than 12 months, fair value	$ 91,218	$ 290,883
Less than 12 months, amount	$ (19,048)	$ (7,665)
12 months or longer, number of issues | issue	24	7
12 months or longer: fair value	$ 269,003	$ 106,483
12 months or longer, amount	(71,722)	(5,609)
Corporate bonds | American Savings Bank (ASB)
Available-for-sale
Amortized cost	44,412	30,625
Gross unrealized gains	0	655
Gross unrealized losses	(4,477)	(102)
Available-for-sale investment securities, at fair value	$ 39,935	$ 31,178
Gross unrealized losses, less than 12 months, number of issues | issue	5	1
Gross unrealized losses, less than 12 months, fair value	$ 39,935	$ 12,780
Gross unrealized losses, less than 12 months, amount	$ (4,477)	$ (102)
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 more, amount	0	0
Mortgage revenue bonds | American Savings Bank (ASB)
Available-for-sale
Amortized cost	15,033	15,427
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Available-for-sale investment securities, at fair value	$ 15,033	$ 15,427
Gross unrealized losses, less than 12 months, number of issues | issue	0	0
Gross unrealized losses, less than 12 months, fair value	$ 0	$ 0
Gross unrealized losses, less than 12 months, amount	$ 0	$ 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 more, amount	$ 0	$ 0

Bank segment - Contractual matu

Bank segment - Contractual maturities of investment securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Available-for-sale
Due in one year or less	$ 15,239		$ 15,239
Due after one year through five years	81,842		81,842
Due after five years through ten years	66,642		66,642
Due after ten years	0		0
Total amortized cost	163,723		163,723
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	2,533,445		2,533,445
Amortized cost	2,697,168		2,697,168
Held-to-maturity
Due in one year or less	0		0
Due after one year through five years	0		0
Due after five years through ten years	59,888		59,888
Due after ten years	0		0
Total amortized cost	59,888		59,888
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	450,991		450,991
Amortized cost	510,879		510,879
Available-for-sale
Due in one year or less	15,195		15,195
Due after one year through five years	76,442		76,442
Due after five years through ten years	59,744		59,744
Due after ten years	0		0
Total fair value	151,381		151,381
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	2,080,955		2,080,955
Total available-for-sale securities	2,232,336		2,232,336		$ 2,574,618
Held-to-maturity
Due in one year or less	0		0
Due after one year through five years	0		0
Due after five years through ten years	50,970		50,970
Due after ten years	0		0
Total fair value	50,970		50,970
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	360,221		360,221
Total held-to-maturity securities	411,191		411,191
Proceeds, gross gains and losses from sales of available-for-sale securities
Proceeds	0	$ 0	0	$ 197,354
Gross gains	0	0	0	975
Gross losses	0	0	0	447
Tax expense on realized gains	$ 0	$ 0	$ 0	$ 142

Bank segment - Loans receivable

Bank segment - Loans receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 5,707,178		$ 5,221,204
Less: Deferred fees and discounts	(19,788)		(10,090)
Allowance for credit losses	(70,406)	$ (69,456)	(71,130)	$ (75,944)	$ (78,252)	$ (101,201)
Total loans, net	5,616,984		5,139,984
Real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	4,786,697		4,313,934
Real estate | Residential 1-4 family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,392,780		2,299,212
Allowance for credit losses	(7,584)	(8,520)	(6,545)	(5,998)	(5,518)	(4,600)
Real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,295,737		1,056,982
Allowance for credit losses	(21,036)	(20,900)	(24,696)	(25,958)	(28,708)	(35,607)
Real estate | Home equity line of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	967,153		835,663
Allowance for credit losses	(5,943)	(6,096)	(5,657)	(5,778)	(5,335)	(6,813)
Real estate | Residential land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	21,539		19,859
Allowance for credit losses	(689)	(677)	(646)	(634)	(618)	(609)
Real estate | Commercial construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	89,185		91,080
Allowance for credit losses	(999)	(2,634)	(2,186)	(1,733)	(1,629)	(4,149)
Real estate | Residential construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	20,303		11,138
Allowance for credit losses	(49)	(46)	(18)	(13)	(16)	(11)
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	703,737		793,304
Allowance for credit losses	(12,951)	(12,413)	(15,798)	(19,451)	(20,058)	(25,462)
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	216,744		113,966
Allowance for credit losses	$ (21,155)	$ (18,170)	$ (15,584)	$ (16,379)	$ (16,370)	$ (23,950)

Bank segment - Allowance for cr

Bank segment - Allowance for credit losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Allowance for credit losses:
Beginning balance	$ 69,456	$ 78,252	$ 71,130	$ 101,201
Charge-offs	(1,646)	(1,915)	(4,721)	(7,856)
Recoveries	1,282	1,582	4,189	4,566
Provision for credit losses	1,314	(1,975)	(192)	(21,967)
Ending balance	70,406	75,944	70,406	75,944
Real estate | Residential 1-4 family
Allowance for credit losses:
Beginning balance	8,520	5,518	6,545	4,600
Charge-offs	0	(47)	0	(67)
Recoveries	2	5	13	59
Provision for credit losses	(938)	522	1,026	1,406
Ending balance	7,584	5,998	7,584	5,998
Real estate | Commercial real estate
Allowance for credit losses:
Beginning balance	20,900	28,708	24,696	35,607
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for credit losses	136	(2,750)	(3,660)	(9,649)
Ending balance	21,036	25,958	21,036	25,958
Real estate | Home equity line of credit
Allowance for credit losses:
Beginning balance	6,096	5,335	5,657	6,813
Charge-offs	0	(5)	0	(45)
Recoveries	14	7	56	83
Provision for credit losses	(167)	441	230	(1,073)
Ending balance	5,943	5,778	5,943	5,778
Real estate | Residential land
Allowance for credit losses:
Beginning balance	677	618	646	609
Charge-offs	0	0	0	0
Recoveries	0	35	101	56
Provision for credit losses	12	(19)	(58)	(31)
Ending balance	689	634	689	634
Real estate | Commercial construction
Allowance for credit losses:
Beginning balance	2,634	1,629	2,186	4,149
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for credit losses	(1,635)	104	(1,187)	(2,416)
Ending balance	999	1,733	999	1,733
Real estate | Residential construction
Allowance for credit losses:
Beginning balance	46	16	18	11
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for credit losses	3	(3)	31	2
Ending balance	49	13	49	13
Commercial
Allowance for credit losses:
Beginning balance	12,413	20,058	15,798	25,462
Charge-offs	(143)	(266)	(367)	(1,356)
Recoveries	303	417	1,055	1,056
Provision for credit losses	378	(758)	(3,535)	(5,711)
Ending balance	12,951	19,451	12,951	19,451
Consumer
Allowance for credit losses:
Beginning balance	18,170	16,370	15,584	23,950
Charge-offs	(1,503)	(1,597)	(4,354)	(6,388)
Recoveries	963	1,118	2,964	3,312
Provision for credit losses	3,525	488	6,961	(4,495)
Ending balance	$ 21,155	$ 16,379	$ 21,155	$ 16,379

Bank segment - Allowance for lo

Bank segment - Allowance for loan commitments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Allowance for loan commitments:
Beginning balance	$ 5,900	$ 3,650	$ 4,900	$ 4,300
Provision	(1,500)	250	(500)	(400)
Ending balance	4,400	3,900	4,400	3,900
Real estate | Home equity line of credit
Allowance for loan commitments:
Beginning balance	400	400	400	300
Provision	0	0	0	100
Ending balance	400	400	400	400
Real estate | Commercial construction
Allowance for loan commitments:
Beginning balance	4,100	2,400	3,700	3,000
Provision	(1,500)	300	(1,100)	(300)
Ending balance	2,600	2,700	2,600	2,700
Commercial
Allowance for loan commitments:
Beginning balance	1,400	850	800	1,000
Provision	0	(50)	600	(200)
Ending balance	$ 1,400	$ 800	$ 1,400	$ 800

Bank segment - Credit risk prof

Bank segment - Credit risk profile - payment activity and assigned grades (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Credit risk profile by internally assigned grade for loans
Current year	$ 909,732	$ 1,325,112
One year before current year	1,233,032	934,584
Two years before current year	838,428	367,452
Three years before current year	307,911	236,305
Four years before current year	168,723	217,965
Prior	1,140,557	1,119,478
Revolving	1,046,278	958,710
Converted to term loans	62,517	61,598
Total	5,707,178	5,221,204
Real estate
Credit risk profile by internally assigned grade for loans
Total	4,786,697	4,313,934
Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current year	305,656	791,758
One year before current year	761,490	461,683
Two years before current year	428,355	136,332
Three years before current year	115,625	65,230
Four years before current year	54,232	124,994
Prior	727,422	719,215
Revolving	0	0
Converted to term loans	0	0
Total	2,392,780	2,299,212
Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	925,003	795,668
Converted to term loans	42,150	39,995
Total	967,153	835,663
Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current year	5,516	10,572
One year before current year	9,263	6,794
Two years before current year	5,410	1,116
Three years before current year	338	532
Four years before current year	525	267
Prior	487	578
Revolving	0	0
Converted to term loans	0	0
Total	21,539	19,859
Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current year	6,028	7,856
One year before current year	11,804	3,019
Two years before current year	2,471	0
Three years before current year	0	0
Four years before current year	0	263
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	20,303	11,138
Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current year	293,602	193,394
One year before current year	191,003	279,455
Two years before current year	301,272	106,188
Three years before current year	104,162	89,219
Four years before current year	60,094	56,174
Prior	341,369	320,950
Revolving	4,235	11,602
Converted to term loans	0	0
Total	1,295,737	1,056,982
Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current year	0	17,140
One year before current year	46,263	43,261
Two years before current year	9,570	0
Three years before current year	0	11,342
Four years before current year	11,342	0
Prior	0	0
Revolving	22,010	19,337
Converted to term loans	0	0
Total	89,185	91,080
Consumer
Credit risk profile by internally assigned grade for loans
Current year	153,299	37,838
One year before current year	25,409	15,889
Two years before current year	8,017	30,679
Three years before current year	12,187	11,506
Four years before current year	1,626	352
Prior	167	238
Revolving	11,229	13,044
Converted to term loans	4,810	4,420
Total	216,744	113,966
Commercial
Credit risk profile by internally assigned grade for loans
Current year	145,631	266,554
One year before current year	187,800	124,483
Two years before current year	83,333	93,137
Three years before current year	75,599	58,476
Four years before current year	40,904	35,915
Prior	71,112	78,497
Revolving	83,801	119,059
Converted to term loans	15,557	17,183
Total	703,737	793,304
Pass | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current year	293,602	173,794
One year before current year	179,753	275,242
Two years before current year	297,137	49,317
Three years before current year	51,953	56,490
Four years before current year	57,857	33,581
Prior	297,949	259,583
Revolving	4,235	11,602
Converted to term loans	0	0
Total	1,182,486	859,609
Pass | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current year	0	17,140
One year before current year	46,263	43,261
Two years before current year	9,570	0
Three years before current year	0	11,342
Four years before current year	11,342	0
Prior	0	0
Revolving	22,010	19,337
Converted to term loans	0	0
Total	89,185	91,080
Pass | Commercial
Credit risk profile by internally assigned grade for loans
Current year	145,209	266,087
One year before current year	185,304	96,963
Two years before current year	82,895	79,329
Three years before current year	68,730	56,497
Four years before current year	39,524	31,019
Prior	65,509	66,570
Revolving	75,669	96,673
Converted to term loans	14,430	15,510
Total	677,270	708,648
Special Mention | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current year	0	19,600
One year before current year	11,250	3,529
Two years before current year	3,467	42,935
Three years before current year	40,838	30,870
Four years before current year	415	20,788
Prior	27,202	32,824
Revolving	0	0
Converted to term loans	0	0
Total	83,172	150,546
Special Mention | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Special Mention | Commercial
Credit risk profile by internally assigned grade for loans
Current year	0	40
One year before current year	0	27,336
Two years before current year	295	10,071
Three years before current year	6,103	202
Four years before current year	25	439
Prior	784	8,966
Revolving	3,750	15,303
Converted to term loans	10	18
Total	10,967	62,375
Substandard | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	684
Two years before current year	668	13,936
Three years before current year	11,371	1,859
Four years before current year	1,822	1,805
Prior	16,218	28,543
Revolving	0	0
Converted to term loans	0	0
Total	30,079	46,827
Substandard | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Substandard | Commercial
Credit risk profile by internally assigned grade for loans
Current year	422	427
One year before current year	2,496	184
Two years before current year	143	3,737
Three years before current year	766	1,777
Four years before current year	1,355	4,457
Prior	4,819	2,961
Revolving	4,382	7,083
Converted to term loans	1,117	1,655
Total	15,500	22,281
Doubtful | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Doubtful | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Doubtful | Commercial
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Current | Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current year	305,656	791,758
One year before current year	761,490	461,683
Two years before current year	428,088	133,345
Three years before current year	115,625	64,421
Four years before current year	53,423	124,994
Prior	720,572	712,452
Revolving	0	0
Converted to term loans	0	0
Total	2,384,854	2,288,653
Current | Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	924,228	794,518
Converted to term loans	41,514	39,116
Total	965,742	833,634
Current | Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current year	5,516	10,572
One year before current year	9,263	6,794
Two years before current year	5,410	1,116
Three years before current year	338	532
Four years before current year	525	267
Prior	390	181
Revolving	0	0
Converted to term loans	0	0
Total	21,442	19,462
Current | Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current year	6,028	7,856
One year before current year	11,804	3,019
Two years before current year	2,471	0
Three years before current year	0	0
Four years before current year	0	263
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	20,303	11,138
Current | Consumer
Credit risk profile by internally assigned grade for loans
Current year	152,156	37,563
One year before current year	24,939	15,488
Two years before current year	7,779	29,383
Three years before current year	11,509	10,897
Four years before current year	1,487	302
Prior	167	238
Revolving	11,097	12,740
Converted to term loans	4,536	4,157
Total	213,670	110,768
30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	3,674	5,703
30-59 days past due | Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	809
Four years before current year	0	0
Prior	1,389	2,210
Revolving	0	0
Converted to term loans	0	0
Total	1,389	3,019
30-59 days past due | Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	242	296
Converted to term loans	130	313
Total	372	609
30-59 days past due | Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
30-59 days past due | Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
30-59 days past due | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Total	0	0
30-59 days past due | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Total	0	0
30-59 days past due | Consumer
Credit risk profile by internally assigned grade for loans
Current year	786	202
One year before current year	181	181
Two years before current year	119	517
Three years before current year	303	234
Four years before current year	43	15
Prior	0	0
Revolving	41	156
Converted to term loans	74	70
Total	1,547	1,375
30-59 days past due | Commercial
Credit risk profile by internally assigned grade for loans
Total	366	700
60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	2,962	2,749
60-89 days past due | Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	2,040	1,468
Revolving	0	0
Converted to term loans	0	0
Total	2,040	1,468
60-89 days past due | Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	106	16
Converted to term loans	43	70
Total	149	86
60-89 days past due | Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
60-89 days past due | Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
60-89 days past due | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Total	0	0
60-89 days past due | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Total	0	0
60-89 days past due | Consumer
Credit risk profile by internally assigned grade for loans
Current year	229	59
One year before current year	111	127
Two years before current year	50	392
Three years before current year	162	183
Four years before current year	35	8
Prior	0	0
Revolving	23	7
Converted to term loans	53	106
Total	663	882
60-89 days past due | Commercial
Credit risk profile by internally assigned grade for loans
Total	110	313
Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Total	8,448	8,792
Greater than 89 days past due | Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	267	2,987
Three years before current year	0	0
Four years before current year	809	0
Prior	3,421	3,085
Revolving	0	0
Converted to term loans	0	0
Total	4,497	6,072
Greater than 89 days past due | Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	427	838
Converted to term loans	463	496
Total	890	1,334
Greater than 89 days past due | Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	97	397
Revolving	0	0
Converted to term loans	0	0
Total	97	397
Greater than 89 days past due | Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current year	0	0
One year before current year	0	0
Two years before current year	0	0
Three years before current year	0	0
Four years before current year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Greater than 89 days past due | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Total	0	0
Greater than 89 days past due | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Total	0	0
Greater than 89 days past due | Consumer
Credit risk profile by internally assigned grade for loans
Current year	128	14
One year before current year	178	93
Two years before current year	69	387
Three years before current year	213	192
Four years before current year	61	27
Prior	0	0
Revolving	68	141
Converted to term loans	147	87
Total	864	941
Greater than 89 days past due | Commercial
Credit risk profile by internally assigned grade for loans
Total	$ 2,100	$ 48

Bank segment - Credit risk pr_2

Bank segment - Credit risk profile - payment activity (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Credit risk profile based on payment activity for loans
Total financing receivables	$ 5,707,178	$ 5,221,204
Amortized cost> 90 days and accruing	0	0
Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	4,786,697	4,313,934
Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,392,780	2,299,212
Amortized cost> 90 days and accruing	0	0
Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,295,737	1,056,982
Amortized cost> 90 days and accruing	0	0
Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	967,153	835,663
Amortized cost> 90 days and accruing	0	0
Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	21,539	19,859
Amortized cost> 90 days and accruing	0	0
Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	89,185	91,080
Amortized cost> 90 days and accruing	0	0
Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	20,303	11,138
Amortized cost> 90 days and accruing	0	0
Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	703,737	793,304
Amortized cost> 90 days and accruing	0	0
Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	216,744	113,966
Amortized cost> 90 days and accruing	0	0
30-59 days past due
Credit risk profile based on payment activity for loans
Total financing receivables	3,674	5,703
30-59 days past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	1,389	3,019
30-59 days past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	372	609
30-59 days past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	366	700
30-59 days past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	1,547	1,375
60-89 days past due
Credit risk profile based on payment activity for loans
Total financing receivables	2,962	2,749
60-89 days past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,040	1,468
60-89 days past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	149	86
60-89 days past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	110	313
60-89 days past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	663	882
Greater than 90 days
Credit risk profile based on payment activity for loans
Total financing receivables	8,448	8,792
Greater than 90 days | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	4,497	6,072
Greater than 90 days | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	890	1,334
Greater than 90 days | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	97	397
Greater than 90 days | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	2,100	48
Greater than 90 days | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	864	941
Total past due
Credit risk profile based on payment activity for loans
Total financing receivables	15,084	17,244
Total past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	7,926	10,559
Total past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	1,411	2,029
Total past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	97	397
Total past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	2,576	1,061
Total past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	3,074	3,198
Current
Credit risk profile based on payment activity for loans
Total financing receivables	5,692,094	5,203,960
Current | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,384,854	2,288,653
Current | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,295,737	1,056,982
Current | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	965,742	833,634
Current | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	21,442	19,462
Current | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	89,185	91,080
Current | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	20,303	11,138
Current | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	701,161	792,243
Current | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	$ 213,670	$ 110,768

Bank segment - Credit risk pr_3

Bank segment - Credit risk profile - nonaccrual loans (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Credit risk profile based on nonaccrual loans
With a Related ACL	$ 14,089	$ 37,764
Without a Related ACL	6,043	7,210
Total	20,132	44,974
Total troubled debt restructuring loans not included above	28,986	24,917
Real estate | Residential 1-4 family
Credit risk profile based on nonaccrual loans
With a Related ACL	6,125	16,045
Without a Related ACL	4,219	3,703
Total	10,344	19,748
Total troubled debt restructuring loans not included above	7,671	6,949
Real estate | Commercial real estate
Credit risk profile based on nonaccrual loans
With a Related ACL	0	14,104
Without a Related ACL	0	1,221
Total	0	15,325
Total troubled debt restructuring loans not included above	9,633	3,055
Real estate | Home equity line of credit
Credit risk profile based on nonaccrual loans
With a Related ACL	3,715	4,227
Without a Related ACL	916	1,294
Total	4,631	5,521
Total troubled debt restructuring loans not included above	4,814	6,021
Real estate | Residential land
Credit risk profile based on nonaccrual loans
With a Related ACL	312	97
Without a Related ACL	97	300
Total	409	397
Total troubled debt restructuring loans not included above	806	980
Real estate | Commercial construction
Credit risk profile based on nonaccrual loans
With a Related ACL	0	0
Without a Related ACL	0	0
Total	0	0
Total troubled debt restructuring loans not included above	0	0
Real estate | Residential construction
Credit risk profile based on nonaccrual loans
With a Related ACL	0	0
Without a Related ACL	0	0
Total	0	0
Total troubled debt restructuring loans not included above	0	0
Commercial
Credit risk profile based on nonaccrual loans
With a Related ACL	2,591	1,446
Without a Related ACL	811	692
Total	3,402	2,138
Total troubled debt restructuring loans not included above	6,011	7,860
Consumer
Credit risk profile based on nonaccrual loans
With a Related ACL	1,346	1,845
Without a Related ACL	0	0
Total	1,346	1,845
Total troubled debt restructuring loans not included above	$ 51	$ 52

Bank segment - Loan modificatio

Bank segment - Loan modifications (Details) - Troubled debt restructurings real estate loans $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) contract	Sep. 30, 2021 USD ($) contract	Sep. 30, 2022 USD ($) contract	Sep. 30, 2021 USD ($) contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	3	3	5	26
Outstanding recorded investment	$ 716	$ 3,075	$ 1,385	$ 13,843
Related allowance	$ 16	$ 304	$ 171	$ 588
Real estate | Residential 1-4 family
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	2	1	3	16
Outstanding recorded investment	$ 512	$ 442	$ 893	$ 10,363
Related allowance	$ 0	$ 81	$ 135	$ 309
Real estate | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0	0	0	0
Outstanding recorded investment	$ 0	$ 0	$ 0	$ 0
Related allowance	$ 0	$ 0	$ 0	$ 0
Real estate | Home equity line of credit
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0	0	0	0
Outstanding recorded investment	$ 0	$ 0	$ 0	$ 0
Related allowance	$ 0	$ 0	$ 0	$ 0
Real estate | Residential land
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	1	1	1	3
Outstanding recorded investment	$ 204	$ 247	$ 204	$ 802
Related allowance	$ 16	$ 11	$ 16	$ 37
Real estate | Commercial construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0	0	0	0
Outstanding recorded investment	$ 0	$ 0	$ 0	$ 0
Related allowance	$ 0	$ 0	$ 0	$ 0
Real estate | Residential construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0	0	0	0
Outstanding recorded investment	$ 0	$ 0	$ 0	$ 0
Related allowance	$ 0	$ 0	$ 0	$ 0
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0	1	1	7
Outstanding recorded investment	$ 0	$ 2,386	$ 288	$ 2,678
Related allowance	$ 0	$ 212	$ 20	$ 242
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0	0	0	0
Outstanding recorded investment	$ 0	$ 0	$ 0	$ 0
Related allowance	$ 0	$ 0	$ 0	$ 0

Bank segment - Troubled debt re

Bank segment - Troubled debt restructuring - narrative (Details) - Troubled debt restructurings real estate loans - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Financing Receivable, Impaired [Line Items]
Financing receivable modifications minimum, period of payment default of loans determined to be TDRs (in days)	90 days	90 days	90 days	90 days
Commitments to lend additional funds to borrows with impaired or modified loans	$ 0		$ 0		$ 0
Consumer mortgage loans collateralized by residential real estate property in foreclosure process	$ 4,600,000		$ 4,600,000		$ 3,400,000

Bank segment - Collateral-depen

Bank segment - Collateral-dependent loans (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Residential real estate property | Real estate | Residential 1-4 family
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	$ 4,699	$ 3,493
Residential real estate property | Real estate | Home equity line of credit
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	899	1,294
Residential real estate property | Real estate | Residential land
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	97	300
Commercial real estate | Real estate | Commercial real estate
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	0	1,221
Collateral pledged
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	5,882	7,000
Collateral pledged | Real estate
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	5,695	6,308
Business assets | Commercial
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	$ 187	$ 692

Bank segment - Mortgage servici

Bank segment - Mortgage servicing rights (Details) - American Savings Bank (ASB) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) loan	Sep. 30, 2021 USD ($) loan	Sep. 30, 2022 USD ($) loan	Sep. 30, 2021 USD ($) loan	Dec. 31, 2021 USD ($)
Servicing Asset at Amortized Cost [Line Items]
Number of mortgage loans repurchased | loan	1	0	1	0
Mortgage service fees	$ 1,000	$ 1,000	$ 2,800	$ 2,800
Mortgage servicing rights
Servicing asset - beginning balance			9,950
Servicing asset - ending balance	9,351		9,351
Residential loan
Servicing Asset at Amortized Cost [Line Items]
Proceeds from sale of residential loans	12,100	38,300	126,400	304,800
Gain on sale of mortgage loans	200	1,300	1,600	7,500
Servicing contracts
Changes in Carrying Value of MSRs
Gross carrying amount	19,454		19,454		$ 18,674
Accumulated amortization	(10,103)		(10,103)		(8,724)
Valuation allowance	0	0	0	0	0
Net carrying amount	9,351	10,272	9,351	10,272	9,950
Mortgage servicing rights
Servicing asset - beginning balance	9,696	10,754	9,950	10,280
Amount capitalized	117	315	1,040	2,885
Amortization	(462)	(797)	(1,639)	(2,893)
Other-than-temporary impairment	0	0	0	0
Servicing asset - ending balance	9,351	10,272	9,351	10,272
Valuation allowance for mortgage servicing rights
Valuation allowance, beginning balance	0	0	0	260
Provision	0	0	0	(260)
Other-than-temporary impairment	0	0	0	0
Valuation allowance, ending balance	0	$ 0	0	$ 0
Unpaid principal balance	1,467,806		1,467,806		1,481,899
Prepayment rate:
25 basis points adverse rate change	(144)		(144)		(714)
50 basis points adverse rate change	(299)		(299)		(1,608)
Discount rate:
25 basis points adverse rate change	(177)		(177)		(129)
50 basis points adverse rate change	$ (351)		$ (351)		$ (256)
Servicing contracts | Weighted average note rate
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.0336		0.0336		0.0338
Servicing contracts | Weighted average discount rate
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.0925		0.0925		0.0925
Servicing contracts | Weighted average prepayment speed
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.0672		0.0672		0.0977

Bank segment - Other borrowings

Bank segment - Other borrowings (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Offsetting Liabilities [Line Items]
Gross amount  of recognized  liabilities	$ 284,000,000	$ 88,000,000
Gross amount  offset in the  Balance Sheets	0	0
Net amount of liabilities presented in the Balance Sheets	284,000,000	88,000,000
American Savings Bank (ASB)
Offsetting Liabilities [Line Items]
Advances from the FHLB	125,000,000	0
Net amount of liabilities presented in the Balance Sheets	284,000,000	88,300,000
Commercial account holders
Offsetting Liabilities [Line Items]
Net amount of liabilities presented in the Balance Sheets	284,000,000	88,000,000
Financial instruments	285,000,000	161,000,000
Cash collateral pledged	$ 0	$ 0

Bank segment - Derivatives (Det

Bank segment - Derivatives (Details) - Derivative Financial Instruments Not Designated as Hedging Instruments - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Derivative instrument
Asset derivatives	$ 175		$ 175		$ 638
Liability derivatives	88		88		11
Net gains (losses) recognized in the Statement of Income	16	$ 87	(540)	$ (3,619)
Interest rate lock commitments
Derivative instrument
Notional amount	5,635		5,635		39,377
Fair value	(85)		(85)		638
Asset derivatives	3		3		638
Liability derivatives	88		88		0
Net gains (losses) recognized in the Statement of Income	(129)	(63)	(722)	(4,228)
Forward commitments
Derivative instrument
Notional amount	5,250		5,250		38,000
Fair value	172		172		(11)
Asset derivatives	172		172		0
Liability derivatives	0		0		$ 11
Net gains (losses) recognized in the Statement of Income	$ 145	$ 150	$ 182	$ 609

Bank segment - Contingencies (D

Bank segment - Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
American Savings Bank (ASB)
Loss Contingencies [Line Items]
Unfunded commitments to fund the company's LIHTC	$ 71.4	$ 62.8

Credit agreement and changes _3

Credit agreement and changes in debt - Narrative (Details)					1 Months Ended	9 Months Ended
	Oct. 26, 2022 USD ($)	Jul. 01, 2022 USD ($) MW	Feb. 18, 2022 USD ($) extensionOption	Sep. 29, 2021 USD ($) tranche	Nov. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Oct. 20, 2022 USD ($)	Sep. 29, 2022 USD ($)	Dec. 31, 2021 USD ($)	May 14, 2021 USD ($) institution
Credit agreement
Proceeds from issuance of long-term debt						$ 67,312,000	$ 206,988,000
Public utilities, equity capitalization ratio				58%
Forecast
Credit agreement
Refinanced debt					$ 150,000,000
Senior Notes
Credit agreement
Proceeds from issuance of private placement				$ 125,000,000
Number of tranches | tranche				2
Senior Notes | Tranche One
Credit agreement
Proceeds from issuance of long-term debt				$ 75,000,000
Senior Notes | Subsequent Event | Tranche Two
Credit agreement
Proceeds from debt on delayed basis	$ 50,000,000
HEI Facility
Credit agreement
Credit agreement											$ 175,000,000
HEI Facility | Senior Notes
Credit agreement
Aggregate principal amount									$ 110,000,000
Term Loan | Subsequent Event
Credit agreement
Aggregate principal amount								$ 100,000,000
HEI Series 2022C | Senior Notes
Credit agreement
Aggregate principal amount						75,000,000
Hawaiian Electric Company, Inc. and Subsidiaries
Credit agreement
Proceeds from issuance of long-term debt						60,000,000	$ 115,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Credit Facilities
Credit agreement
Number of financial institutions | institution											9
Credit agreement						$ 0				$ 0
Hawaiian Electric Company, Inc. and Subsidiaries | Hawaiian Electric Facility
Credit agreement
Credit agreement			$ 275,000,000								$ 200,000,000
Number of extension options | extensionOption			2
Extension period			1 year
Mahipapa | Green Energy Team, LLC
Credit agreement
Unit of renewable energy (in mega watts) | MW		7.5
Aggregate principal amount, issued		$ 61,000,000
Periodic principal and interest payments		$ 1,600,000

Credit agreement and changes _4

Credit agreement and changes in debt - HEI private placement (Details) - Senior Notes	Sep. 30, 2022 USD ($)
HEI Series 2022C
Debt Instrument [Line Items]
Aggregate principal amount	$ 75,000,000
Fixed coupon interest rate	5.43%
HEI Green Series 2022D
Debt Instrument [Line Items]
Aggregate principal amount	$ 35,000,000
Fixed coupon interest rate	5.43%

Credit agreement and changes _5

Credit agreement and changes in debt - Note purchase agreements (Details) - Senior Notes - Series 2022A	May 11, 2022 USD ($)
Hawaiian Electric
Debt Instrument [Line Items]
Aggregate principal amount	$ 40,000,000
Hawaii Electric Light
Debt Instrument [Line Items]
Aggregate principal amount	10,000,000
Maui Electric
Debt Instrument [Line Items]
Aggregate principal amount	10,000,000
Hawaiian Electric Company, Inc. and Subsidiaries
Debt Instrument [Line Items]
Aggregate principal amount	$ 60,000,000
Fixed coupon interest rate	3.70%

Shareholders' equity - Accumula

Shareholders' equity - Accumulated other comprehensive income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,233,504	$ 2,303,642	$ 2,390,884	$ 2,367,329	$ 2,321,293	$ 2,337,502	$ 2,390,884	$ 2,337,502
Current period other comprehensive income (loss)	(96,012)	(87,840)	(117,159)	(11,305)	16,472	(44,016)	(301,011)	(38,849)
Ending balance	2,162,922	2,233,504	2,303,642	2,383,543	2,367,329	2,321,293	2,162,922	2,383,543
AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(257,532)	(169,692)	(52,533)	(28,808)	(45,280)	(1,264)	(52,533)	(1,264)
Current period other comprehensive income (loss)	(96,012)	(87,840)	(117,159)	(11,305)	16,472	(44,016)
Ending balance	(353,544)	(257,532)	(169,692)	(40,113)	(28,808)	(45,280)	(353,544)	(40,113)
Net unrealized gains (losses) on securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(32,037)			19,986	(32,037)	19,986
Current period other comprehensive income (loss)							(308,229)	(40,308)
Ending balance	(340,266)			(20,322)			(340,266)	(20,322)
Unrealized gains (losses) on derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(3,638)			(3,363)	(3,638)	(3,363)
Current period other comprehensive income (loss)							6,561	1,009
Ending balance	2,923			(2,354)			2,923	(2,354)
Retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(16,858)			(17,887)	(16,858)	(17,887)
Current period other comprehensive income (loss)							657	450
Ending balance	(16,201)			(17,437)			(16,201)	(17,437)
Hawaiian Electric Company, Inc. and Subsidiaries
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	2,289,595	2,276,884	2,261,899	2,171,396	2,157,385	2,141,918	2,261,899	2,141,918
Current period other comprehensive income (loss)	108	51	51	106	35	34	210	175
Ending balance	2,307,992	2,289,595	2,276,884	2,193,919	2,171,396	2,157,385	2,307,992	2,193,919
Hawaiian Electric Company, Inc. and Subsidiaries | AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,178)	(3,229)	(3,280)	(2,850)	(2,885)	(2,919)	(3,280)	(2,919)
Current period other comprehensive income (loss)	108	51	51	106	35	34
Ending balance	(3,070)	$ (3,178)	(3,229)	(2,744)	$ (2,850)	(2,885)	(3,070)	(2,744)
Hawaiian Electric Company, Inc. and Subsidiaries | Retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ (3,280)			$ (2,919)	(3,280)	(2,919)
Current period other comprehensive income (loss)							210	175
Ending balance	$ (3,070)			$ (2,744)			$ (3,070)	$ (2,744)

Shareholders' equity - Reclassi

Shareholders' equity - Reclassification out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Reclassifications out of accumulated other comprehensive income/(loss)
Gain on sale of investment securities, net	$ 0	$ 0	$ (8,123)	$ (528)
Interest expense	26,626	23,477	75,940	70,530
Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	356	63	818	72
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(50,262)	(50,840)	(141,804)	(137,097)
Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	108	106	210	175
Net realized gains on securities included in net income | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Gain on sale of investment securities, net	0	0	0	(387)
Net realized losses on derivatives qualifying as cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Interest expense	53	9	161	9
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	5,606	2,853	10,229	14,871
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost | Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	5,411	2,905	9,782	14,596
Impact of D&Os of the PUC included in regulatory assets | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(5,303)	(2,799)	(9,572)	(14,421)
Impact of D&Os of the PUC included in regulatory assets | Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	$ (5,303)	$ (2,799)	$ (9,572)	$ (14,421)

Interest rate swaps - Interest

Interest rate swaps - Interest rate derivatives (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Interest Rate Swap Matured On 09/01/2035
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 24
Asset (liability)	$ 0.7	$ (5.3)
Interest Rate Swap Matured On 09/01/2035 | Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fixed interest rate	4.88%
Interest Rate Swap Matured On 09/01/2035 | Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fixed interest rate	5.05%
Interest Rate Swap Matured On 10/01/2031
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 13
Fixed interest rate	2.79%
Asset (liability)	$ 1.4	$ 0.3
Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	100
Gain on derivative	$ 1.7

Interest rate swaps - Derivativ

Interest rate swaps - Derivative instruments, effect on other comprehensive income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain on interest rate swaps designated as cash flow hedges recognized in other comprehensive income	$ 3.5	$ 0.2	$ 8.6	$ 1.3

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 990,338	$ 690,618	$ 2,527,153	$ 1,836,745
Total revenues from other sources	51,859	66,286	195,719	243,362
Revenues	1,042,197	756,904	2,722,872	2,080,107
Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,058	11,186	36,851	34,133
Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	978,280	679,432	2,490,302	1,802,612
Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	306,417	228,878	790,424	606,435
Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	309,940	217,468	794,238	578,036
Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	351,763	229,129	886,733	607,480
Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	5,400	2,779	11,699	7,470
Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,058	11,186	36,851	34,133
Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,760	1,178	7,208	3,191
Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	(26,301)	(5,717)	(24,843)	25,566
Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	68,417	61,441	191,228	182,127
Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	936	3,581	3,771	14,339
Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	8,807	6,981	25,563	21,330
Electric utility
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	973,520	678,254	2,483,094	1,799,421
Total revenues from other sources	(17,549)	1,245	542	46,821
Revenues	955,971	679,499	2,483,636	1,846,242
Electric utility | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Electric utility | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	973,520	678,254	2,483,094	1,799,421
Electric utility | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	306,417	228,878	790,424	606,435
Electric utility | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	309,940	217,468	794,238	578,036
Electric utility | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	351,763	229,129	886,733	607,480
Electric utility | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	5,400	2,779	11,699	7,470
Electric utility | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Electric utility | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Electric utility | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	(26,301)	(5,717)	(24,843)	25,566
Electric utility | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Electric utility | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Electric utility | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	8,752	6,962	25,385	21,255
Bank
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,058	11,186	36,851	34,133
Total revenues from other sources	69,353	65,022	194,999	196,466
Revenues	81,411	76,208	231,850	230,599
Bank | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,058	11,186	36,851	34,133
Bank | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,058	11,186	36,851	34,133
Bank | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Bank | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	68,417	61,441	191,228	182,127
Bank | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	936	3,581	3,771	14,339
Bank | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,760	1,178	7,208	3,191
Total revenues from other sources	55	19	178	75
Revenues	4,815	1,197	7,386	3,266
Other | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,760	1,178	7,208	3,191
Other | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,760	1,178	7,208	3,191
Other | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0	0	0
Other | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	$ 55	$ 19	$ 178	$ 75

Retirement benefits (Details)

Retirement benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Defined Benefit Plan
Contributions made to defined benefit plans			$ 32,000	$ 39,000
Contributions expected to be paid in current year	$ 43,000		43,000		$ 52,000
Expected payments for remainder of fiscal year	3,000		3,000		1,000
Retirement benefits expense			$ 35,000	35,000
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			$ 6,500	4,900
Cash contributions by the employer to defined contribution plan			$ 5,400	4,800
Employer contribution, percent of employee annual compensation			10%
Pension benefits
Defined Benefit Plan
Service cost	18,831	$ 20,102	$ 58,478	61,031
Interest cost	20,274	18,896	59,895	56,497
Expected return on plan assets	(35,163)	(33,022)	(105,827)	(99,157)
Amortization of net prior period gain	0	0	0	0
Amortization of net actuarial (gain) losses	7,782	10,112	20,376	20,099
Net periodic pension/benefit cost (return)	11,724	16,088	32,922	38,470
Impact of PUC D&Os	8,758	4,292	27,861	20,972
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	20,482	20,380	60,783	59,442
Other benefits
Defined Benefit Plan
Service cost	624	711	1,937	2,121
Interest cost	1,593	1,459	4,868	4,597
Expected return on plan assets	(3,394)	(3,252)	(10,189)	(9,717)
Amortization of net prior period gain	(232)	(383)	(696)	(1,150)
Amortization of net actuarial (gain) losses	(3)	(140)	(9)	158
Net periodic pension/benefit cost (return)	(1,412)	(1,605)	(4,089)	(3,991)
Impact of PUC D&Os	1,289	1,483	3,725	3,629
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	(123)	(122)	(364)	(362)
Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan
Contributions made to defined benefit plans			31,000	38,000
Contributions expected to be paid in current year	42,000		42,000		51,000
Expected payments for remainder of fiscal year	1,000		1,000		$ 1,000
Retirement benefits expense			34,000	35,000
Defined contribution plan, expenses recognized			2,900	2,300
Cash contributions by the employer to defined contribution plan			2,900	2,300
Hawaiian Electric Company, Inc. and Subsidiaries | Pension benefits
Defined Benefit Plan
Service cost	18,248	19,610	56,883	59,597
Interest cost	18,850	17,614	55,773	52,676
Expected return on plan assets	(33,314)	(31,318)	(100,405)	(94,053)
Amortization of net prior period gain	0	0	0	0
Amortization of net actuarial (gain) losses	7,519	9,880	19,769	20,651
Net periodic pension/benefit cost (return)	11,303	15,786	32,020	38,871
Impact of PUC D&Os	8,758	4,292	27,861	20,972
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	20,061	20,078	59,881	59,843
Hawaiian Electric Company, Inc. and Subsidiaries | Other benefits
Defined Benefit Plan
Service cost	617	704	1,915	2,101
Interest cost	1,525	1,398	4,670	4,406
Expected return on plan assets	(3,343)	(3,202)	(10,035)	(9,566)
Amortization of net prior period gain	(232)	(383)	(694)	(1,148)
Amortization of net actuarial (gain) losses	0	(138)	0	155
Net periodic pension/benefit cost (return)	(1,433)	(1,621)	(4,144)	(4,052)
Impact of PUC D&Os	1,289	1,483	3,725	3,629
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	$ (144)	$ (138)	$ (419)	$ (423)

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Mar. 01, 2014	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based compensation
Income tax benefit from compensation expense		$ 0.4	$ 0.1	$ 1.5	$ 1
Restricted stock units
Share-based compensation
Fair value of vested stock				4.2	3
Income tax benefit from compensation expense				0.6	0.6
Unrecognized share based compensation		5.3		$ 5.3
Weighted average period for recognition of unrecognized compensation cost (in years)				1 year 10 months 24 days
Long-term Incentive Plan
Share-based compensation
Payment award, low end of range				0%
Payment award, high end of range				200%
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				$ 0.8	0.8
Income tax benefit from compensation expense				0.1	0.2
Unrecognized share based compensation		1.4		$ 1.4
Weighted average period for recognition of unrecognized compensation cost (in years)				1 year 3 months 18 days
LTIP awards linked to other performance conditions
Share-based compensation
Fair value of vested stock				$ 3.2	1.7
Income tax benefit from compensation expense				0.4	$ 0.4
Unrecognized share based compensation		$ 4.4		$ 4.4
Weighted average period for recognition of unrecognized compensation cost (in years)				1 year 4 months 24 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)		2,800,000		2,800,000
Number of share issuable upon vesting and achievement of performance goals (in shares)		600,000		600,000
Nonemployee Director Stock Plan
Share-based compensation
Shares available for future grant (in shares)		208,627		208,627

Share-based compensation - Summ

Share-based compensation - Summary of income taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based compensation
Share-based compensation expense	$ 1.7	$ 1.3	$ 7.3	$ 6.7
Income tax benefit	0.4	0.1	1.5	1
Hawaiian Electric Company, Inc. and Subsidiaries
Share-based compensation
Share-based compensation expense	0.6	0.1	2.1	2.1
Income tax benefit	$ 0.1	$ 0	$ 0.5	$ 0.4

Share-based compensation - 2011

Share-based compensation - 2011 Director Plan (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based compensation
Income tax benefit	$ 0.4	$ 0.1	$ 1.5	$ 1
Common stock
Share-based compensation
Shares granted (in shares)	965	0	35,720	29,320
Fair value	$ 0	$ 0	$ 1.5	$ 1.2
Income tax benefit	$ 0	$ 0	$ 0.4	$ 0.3

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restricted stock units
Shares
Outstanding, beginning of period (in shares)	208,953	229,775	233,448	193,939
Granted (in shares)	0	1,432	98,463	133,924
Vested (in shares)	(4,244)	(343)	(95,658)	(79,623)
Forfeited (in shares)	(16,540)	(1,074)	(48,084)	(18,450)
Outstanding, end of period (in shares)	188,169	229,790	188,169	229,790
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)	$ 0	$ 0.1	$ 4.1	$ 4.6
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 39.71	$ 38.02	$ 38.10	$ 40.89
Granted (in dollars per share)	0	45.09	41.31	34.49
Vested (in dollars per share)	39.49	37.83	37.73	38.51
Forfeited (in dollars per share)	39.99	38.52	39.19	39.92
Outstanding, end of period (in dollars per share)	$ 39.69	$ 38.06	$ 39.69	$ 38.06
LTIP linked to TRS
Shares
Outstanding, beginning of period (in shares)	76,730	91,159	90,974	89,222
Granted (in shares)	0	281	26,469	46,024
Vested (in shares)	0	0	(29,042)	(32,355)
Forfeited (in shares)	(4,829)	(466)	(16,500)	(11,917)
Outstanding, end of period (in shares)	71,901	90,974	71,901	90,974
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)	$ 0	$ 0	$ 1.5	$ 1.9
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 47.74	$ 42.87	$ 42.86	$ 42.10
Granted (in dollars per share)	0	41.12	54.92	41.12
Vested (in dollars per share)	0	0	41.07	38.20
Forfeited (in dollars per share)	48.52	42.49	44.33	43.07
Outstanding, end of period (in dollars per share)	$ 47.69	$ 42.86	$ 47.69	$ 42.86
LTIP awards linked to other performance conditions
Shares
Outstanding, beginning of period (in shares)	293,711	316,005	306,342	220,715
Granted (in shares)	0	1,125	105,860	184,102
Vested (in shares)	0	0	(71,807)	(43,155)
Increase above target (cancelled) (in shares)	0	(22,354)	0	(21,077)
Forfeited (in shares)	(19,316)	(1,865)	(66,000)	(47,674)
Outstanding, end of period (in shares)	274,395	292,911	274,395	292,911
Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions)	$ 0	$ 0	$ 4.4	$ 6.3
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 39.91	$ 38.38	$ 38.42	$ 41.03
Granted (in dollars per share)	0	41.12	41.31	34.37
Vested (in dollars per share)	0	0	37.68	34.12
Increase above target (in dollars per share)	0	37.81	0	38.18
Forfeited (in dollars per share)	38.60	36.77	37.31	38.74
Outstanding, end of period (in dollars per share)	$ 40	$ 38.45	$ 40	$ 38.45

Share-based compensation - Fair

Share-based compensation - Fair value assumptions (Details) - LTIP linked to TRS - $ / shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk-free interest rate	1.71%	0.19%
Expected life in years	3 years	3 years
Expected volatility	31%	29.90%
Range of expected volatility for Peer Group, minimum rate	25.40%	25.60%
Range of expected volatility for Peer Group, maximum rate	76.70%	102.90%
Grant date fair value (in dollars per share)	$ 54.92	$ 41.12

Income taxes (Details)

Income taxes (Details)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Income Tax Contingency [Line Items]
Effective income tax, percent	21%	20%
Hawaiian Electric Company, Inc. and Subsidiaries
Income Tax Contingency [Line Items]
Effective income tax, percent		19%

Cash flows (Details)

Cash flows (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	$ 59	$ 61
Income taxes paid (including refundable credits)	26	34
Income taxes refunded (including refundable credits)	2	0
Supplemental disclosures of noncash activities
Estimated fair value of noncash contributions in aid of construction (investing)	6	5
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	34	30
Increase related to an acquisition (investing)	15	0
Right-of-use assets obtained in exchange for finance lease obligations (financing)	48	0
Right-of-use assets obtained in exchange for operating lease obligations (investing)	48	44
Property, plant, equipment and other assets received in exchange for the assumption of debt associated with a business acquisition (investing)	68	0
Debt, lease liabilities and other liabilities assumed in business acquisition (financing)	68	0
Common stock issued (gross) for director and executive/management compensation (financing)	10	7
Obligations to fund low income housing investments (investing)	9	9
Loans transferred from held for investment to held for sale (investing)	0	62
Hawaiian Electric Company, Inc. and Subsidiaries
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	40	43
Income taxes paid (including refundable credits)	46	20
Supplemental disclosures of noncash activities
Estimated fair value of noncash contributions in aid of construction (investing)	6	5
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	31	27
Increase related to an acquisition (investing)	15	0
Right-of-use assets obtained in exchange for finance lease obligations (financing)	48	0
Right-of-use assets obtained in exchange for operating lease obligations (investing)	$ 44	$ 44

Fair value measurements - Summa

Fair value measurements - Summary of financial assets and liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financial assets
Available-for-sale investment securities	$ 2,232,336	$ 2,574,618
Held-to-maturity investment securities	411,191
Financial liabilities
Short-term borrowings—other than bank	171,125	53,998
Other bank borrowings	409,040	88,305
Carrying or notional amount
Financial assets
Available-for-sale investment securities	2,232,336	2,574,618
Held-to-maturity investment securities	510,879	522,270
Loans, net	5,620,085	5,150,388
Mortgage-servicing rights	9,351	9,950
Derivative assets	42,988	57,377
Financial liabilities
Deposit liabilities	499,797	423,976
Short-term borrowings—other than bank	171,125	53,998
Other bank borrowings	409,040	88,305
Long-term debt, net	2,430,326	2,321,937
Derivative liabilities	4,897	57,000
Carrying or notional amount | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings	97,450
Long-term debt, net	1,736,694	1,676,402
Estimated fair value
Financial assets
Available-for-sale investment securities	2,232,336	2,574,618
Held-to-maturity investment securities	411,191	510,474
Loans, net	5,149,625	5,228,524
Mortgage-servicing rights	17,244	14,480
Derivative assets	2,249	909
Financial liabilities
Deposit liabilities	485,755	442,361
Short-term borrowings—other than bank	171,125	53,998
Other bank borrowings	409,033	88,304
Long-term debt, net	2,147,438	2,624,130
Derivative liabilities	88	5,282
Estimated fair value | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings	97,450
Long-term debt, net	1,510,725	1,955,710
Estimated fair value | Quoted prices in active markets for identical assets (Level 1)
Financial assets
Available-for-sale investment securities	0	0
Held-to-maturity investment securities	0	0
Loans, net	0	0
Mortgage-servicing rights	0	0
Derivative assets	172	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	11
Estimated fair value | Quoted prices in active markets for identical assets (Level 1) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings	0
Long-term debt, net	0	0
Estimated fair value | Significant  other observable  inputs (Level 2)
Financial assets
Available-for-sale investment securities	2,217,303	2,559,191
Held-to-maturity investment securities	411,191	510,474
Loans, net	3,071	10,403
Mortgage-servicing rights	0	0
Derivative assets	2,077	909
Financial liabilities
Deposit liabilities	485,755	442,361
Short-term borrowings—other than bank	171,125	53,998
Other bank borrowings	409,033	88,304
Long-term debt, net	2,147,438	2,624,130
Derivative liabilities	88	5,271
Estimated fair value | Significant  other observable  inputs (Level 2) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings	97,450
Long-term debt, net	1,510,725	1,955,710
Estimated fair value | Significant unobservable inputs (Level 3)
Financial assets
Available-for-sale investment securities	15,033	15,427
Held-to-maturity investment securities	0	0
Loans, net	5,146,554	5,218,121
Mortgage-servicing rights	17,244	14,480
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 | Significant unobservable inputs (Level 3) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Short-term borrowings	0
Long-term debt, net	$ 0	$ 0

Fair value measurements - Asset

Fair value measurements - Assets and liabilities measured on a recurring basis (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair value measurements on a recurring basis
Available-for-sale investment securities	$ 2,232,336	$ 2,574,618
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1)
Derivative liabilities
Derivative liabilities	0	11
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Derivative assets
Derivative assets	172	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank | Forward commitments
Derivative assets
Derivative assets	172	0
Derivative liabilities
Derivative liabilities	0	11
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Other | Interest rate swap
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2)
Derivative liabilities
Derivative liabilities	88	5,271
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	2,217,303	2,559,191
Derivative assets
Derivative assets	2,077	909
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	3	638
Derivative liabilities
Derivative liabilities	88	0
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Other | Interest rate swap
Derivative assets
Derivative assets	2,074	271
Derivative liabilities
Derivative liabilities	0	5,271
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	2,080,955	2,437,923
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	96,413	90,090
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	39,935	31,178
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3)
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	15,033	15,427
Derivative assets
Derivative assets	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Other | Interest rate swap
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	$ 15,033	$ 15,427

Fair value measurements - Chang

Fair value measurements - Changes in level 3 assets and liabilities (Details) - Mortgage revenue bonds - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 15,165	$ 15,427	$ 15,427	$ 27,185
Principal payments received	(132)	0	(394)	(11,758)
Purchases	0	0	0	0
Unrealized gain (loss) included in other comprehensive income	0	0	0	0
Ending balance	$ 15,033	$ 15,427	$ 15,033	$ 15,427

Fair value measurements - Narra

Fair value measurements - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Fair value measurements on a nonrecurring basis | American Savings Bank (ASB)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Adjustments to fair value of loans held for sale	$ 0	$ 0
Weighted average discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage revenue bonds, measurement input	0.0389