Hawaiian Electric Industries 10K 2007 Annual report | HE Filing

Content analysis

Positive
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Uncertain
Constraining
Legalese
Litigous
Readability	8th grade Avg

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Years ended December 31	2007			2006			2005			2004			2003
(dollars in thousands)

Fixed charges
Total interest charges	$	53,268		$	52,563		$	49,408		$	49,588		$	44,341
Interest component of rentals		2,250			1,863			1,311			909			820
Pretax preferred stock dividend requirements of subsidiaries		1,438			1,467			1,461			1,459			1,430
Preferred securities distributions of trust subsidiaries		—			—			—			—			7,675

Total fixed charges	$	56,956		$	55,893		$	52,180		$	51,956		$	54,266

Earnings
Income before preferred stock dividends of HECO	$	53,236		$	76,027		$	73,882		$	82,257		$	79,991
Fixed charges, as shown		56,956			55,893			52,180			51,956			54,266
Income taxes (see note below)		30,937			46,440			44,623			49,479			49,824
Allowance for borrowed funds used during construction		(2,552	)		(2,879	)		(2,020	)		(2,542	)		(1,914	)

Earnings available for fixed charges	$	138,577		$	175,481		$	168,665		$	181,150		$	182,167

Ratio of earnings to fixed charges		2.43			3.14			3.23			3.49			3.36

Note:
Income taxes is comprised of the following:
Income tax expense relating to operating income from regulated activities	$	34,126		$	47,381		$	45,029		$	50,059		$	50,175
Income tax benefit relating to results from nonregulated activities		(3,189	)		(941	)		(406	)		(580	)		(351	)

	$	30,937		$	46,440		$	44,623		$	49,479		$	49,824

Hawaiian Electric Industries (HE) 10-K2007 FY Annual report

Content analysis