Hawaiian Electric Company, Inc. PFD SER E 5% (HAWEL) 10-Q 10 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Entity Information [Line Items]
Entity Registrant Name	HAWAIIAN ELECTRIC INDUSTRIES INC
Entity Central Index Key	354,707
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		107,465,645
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Hawaiian Electric Company, Inc. and Subsidiaries
Entity Information [Line Items]
Entity Registrant Name	HAWAIIAN ELECTRIC COMPANY INC
Entity Central Index Key	46,207
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		15,805,327
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Consolidated Statements of Inco

Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues
Total revenues	$ 623,912	$ 798,657	$ 1,261,774	$ 1,582,406
Expenses
Total expenses	551,182	715,474	1,119,538	1,410,009
Operating income (loss)
Total operating income	72,730	83,183	142,236	172,397
Interest expense, net—other than on deposit liabilities and other bank borrowings	(18,906)	(20,022)	(38,006)	(39,478)
Allowance for borrowed funds used during construction	682	523	1,181	1,137
Allowance for equity funds used during construction	1,896	1,387	3,309	2,996
Income before income taxes	56,402	65,071	108,720	137,052
Income taxes	20,911	23,317	40,890	49,038
Net income	35,491	41,754	67,830	88,014
Preferred stock dividends of subsidiaries	473	473	946	946
Net income for common stock	$ 35,018	$ 41,281	$ 66,884	$ 87,068
Basic earnings per common share (in dollars per share)	$ 0.33	$ 0.41	$ 0.63	$ 0.86
Diluted earnings per common share (in dollars per share)	0.33	0.41	0.63	0.85
Dividends per common share (in dollars per share)	$ 0.31	$ 0.31	$ 0.62	$ 0.62
Weighted-average number of common shares outstanding (in shares)	107,418	101,495	105,361	101,439
Net effect of potentially dilutive shares (in shares)	276	330	298	606
Adjusted weighted-average shares (in shares)	107,694	101,825	105,659	102,045
Electric utility
Revenues
Total revenues	$ 558,163	$ 738,429	$ 1,131,605	$ 1,458,491
Expenses
Total expenses	492,002	668,361	1,007,808	1,317,757
Operating income (loss)
Total operating income	66,161	70,068	123,797	140,734
Income before income taxes	52,451	55,126	95,674	112,292
Income taxes	19,111	20,397	34,961	41,644
Net income	33,340	34,729	60,713	70,648
Preferred stock dividends of subsidiaries	499	499	998	998
Net income for common stock	32,841	34,230	59,715	69,650
Bank
Revenues
Total revenues	65,783	60,616	130,131	124,235
Expenses
Total expenses	46,057	42,660	89,774	83,748
Operating income (loss)
Total operating income	19,726	17,956	40,357	40,487
Income before income taxes	19,726	17,956	40,357	40,488
Income taxes	6,875	6,420	14,031	14,553
Net income	12,851	11,536	26,326	25,935
Net income for common stock	12,851	11,536	26,326	25,935
Other
Revenues
Total revenues	(34)	(388)	38	(320)
Expenses
Total expenses	13,123	4,453	21,956	8,504
Operating income (loss)
Total operating income	(13,157)	(4,841)	(21,918)	(8,824)
Income before income taxes	(15,775)	(8,011)	(27,311)	(15,728)
Income taxes	(5,075)	(3,500)	(8,102)	(7,159)
Net income	(10,700)	(4,511)	(19,209)	(8,569)
Preferred stock dividends of subsidiaries	(26)	(26)	(52)	(52)
Net income for common stock	$ (10,674)	$ (4,485)	$ (19,157)	$ (8,517)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income for common stock	$ 35,018	$ 41,281	$ 66,884	$ 87,068
Net unrealized gains (losses) on available-for-sale investment securities:
Net unrealized gains (losses) on available-for-sale investment securities arising during the period, net of (taxes) benefits of $2,439, $(1,679), $161 and $(3,343) for the respective periods	(3,694)	2,543	(243)	5,063
Less: reclassification adjustment for net realized gains included in net income, net of taxes of nil, nil, nil and $1,132 for the respective periods	0	0	0	(1,715)
Derivatives qualified as cash flow hedges:
Less: reclassification adjustment to net income, net of tax benefits of $38, $38, $75 and $75 for the respective periods	59	59	118	118
Retirement benefit plans:
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $3,691, $1,836, $7,177, and $3,632 for the respective periods	5,780	2,873	11,239	5,686
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $3,359, $1,641, $6,486 and $3,239 for the respective periods	(5,272)	(2,575)	(10,183)	(5,085)
Other comprehensive income (loss), net of taxes	(3,127)	2,900	931	4,067
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 31,891	$ 44,181	$ 67,815	$ 91,135

Consolidated Statements of Com4

Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net unrealized gains (losses) on available-for-sale investment securities arising during the period, net of tax benefits	$ (2,439)	$ 1,679	$ (161)	$ 3,343
Less: reclassification adjustment for net realized gains included in net income, net of tax benefits	0	0	0	1,132
Less: reclassification adjustment to net income, net of tax benefits	(38)	(38)	(75)	(75)
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	(3,691)	(1,836)	(7,177)	(3,632)
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of tax benefits	$ (3,359)	$ (1,641)	$ (6,486)	$ (3,239)

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 300,687	$ 175,542
Accounts receivable and unbilled revenues, net	269,207	313,696
Available-for-sale investment securities, at fair value	693,520	550,394
Stock in Federal Home Loan Bank, at cost	10,678	69,302
Loans receivable held for investment, net	4,410,817	4,389,033
Loans held for sale, at lower of cost or fair value	5,581	8,424
Property, plant and equipment, net of accumulated depreciation of $2,288,804 and $2,250,950 at the respective dates	4,269,241	4,148,774
Regulatory assets	904,559	905,264
Other	493,151	542,523
Goodwill	82,190	82,190
Total assets	11,439,631	11,185,142
Liabilities
Accounts payable	183,094	186,425
Interest and dividends payable	25,360	25,336
Deposit liabilities	4,803,271	4,623,415
Short-term borrowings—other than bank	124,543	118,972
Other bank borrowings	314,157	290,656
Long-term debt, net—other than bank	1,506,546	1,506,546
Deferred income taxes	632,718	633,570
Regulatory liabilities	357,089	344,849
Contributions in aid of construction	482,760	466,432
Defined benefit pension and other postretirement benefit plans liability	615,945	632,845
Other	461,335	531,230
Total liabilities	9,506,818	9,360,276
Preferred stock of subsidiaries - not subject to mandatory redemption	$ 34,293	$ 34,293
Commitments and contingencies
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: 107,446,530 shares and 102,565,266 shares at the respective dates	1,626,569	1,521,297
Retained earnings	298,398	296,654
Accumulated other comprehensive loss, net of tax benefits	(26,447)	(27,378)
Total shareholders’ equity	1,898,520	1,790,573
Total liabilities and shareholders’ equity	$ 11,439,631	$ 11,185,142

Consolidated Balance Sheets (u6

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Property, plant and equipment, accumulated depreciation	$ 2,288,804	$ 2,250,950
Preferred stock, authorized shares	10,000,000	10,000,000
Preferred stock, issued shares	0	0
Common stock, authorized shares	200,000,000	200,000,000
Common stock, issued shares	107,446,530	102,565,266
Common stock, outstanding shares	107,446,530	102,565,266

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Common stock	Retained Earnings	Accumulated other comprehensive income (loss)
Beginning Balance at Dec. 31, 2013	$ 1,726,406	$ 1,488,126	$ 255,030	$ (16,750)
Balance (in shares) at Dec. 31, 2013		101,260,000
Increase (decrease) in stockholders' equity
Net income for common stock	87,068		87,068
Other comprehensive income, net of taxes	4,067			4,067
Issuance of common stock, net	5,310	$ 5,310
Issuance of common stock, net (in shares)		300,000
Common stock dividends ($0.62 per share)	(62,916)		(62,916)
Ending Balance at Jun. 30, 2014	1,759,935	$ 1,493,436	279,182	(12,683)
Balance (in shares) at Jun. 30, 2014		101,560,000
Beginning Balance at Dec. 31, 2014	$ 1,790,573	$ 1,521,297	296,654	(27,378)
Balance (in shares) at Dec. 31, 2014	102,565,266	102,565,000
Increase (decrease) in stockholders' equity
Net income for common stock	$ 66,884		66,884
Other comprehensive income, net of taxes	931			931
Issuance of common stock, net	105,272	$ 105,272
Issuance of common stock, net (in shares)		4,882,000
Common stock dividends ($0.62 per share)	(65,140)		(65,140)
Ending Balance at Jun. 30, 2015	$ 1,898,520	$ 1,626,569	$ 298,398	$ (26,447)
Balance (in shares) at Jun. 30, 2015	107,446,530	107,447,000

Consolidated Statements of Cha8

Consolidated Statements of Changes in Shareholders' Equity (unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0.31	$ 0.31	$ 0.62	$ 0.62

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities
Net income	$ 67,830	$ 88,014
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	91,731	86,397
Other amortization	4,320	4,014
Provision for loan losses	2,439	2,016
Loans receivable originated and purchased, held for sale	(168,921)	(69,656)
Proceeds from sale of loans receivable, held for sale	173,267	75,040
Increase in deferred income taxes	22,980	28,570
Excess tax benefits from share-based payment arrangements	(984)	(267)
Allowance for equity funds used during construction	(3,309)	(2,996)
Change in cash overdraft	193	(1,038)
Changes in assets and liabilities
Decrease (increase) in accounts receivable and unbilled revenues, net	44,489	(2,986)
Increase in fuel oil stock	(2,362)	(27,206)
Increase in regulatory assets	(19,976)	(17,731)
Decrease in accounts, interest and dividends payable	(56,076)	(64,843)
Change in prepaid and accrued income taxes and utility revenue taxes	(4,390)	(32,510)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability	218	(1,714)
Change in other assets and liabilities	(47,146)	(16,909)
Net cash provided by operating activities	104,303	46,195
Cash flows from investing activities
Available-for-sale investment securities purchased	(208,110)	(125,531)
Principal repayments on available-for-sale investment securities	63,568	33,202
Proceeds from sale of available-for-sale investment securities	0	79,564
Redemption of stock from Federal Home Loan Bank	58,623	11,683
Net increase in loans held for investment	(23,206)	(137,122)
Proceeds from sale of real estate acquired in settlement of loans	1,258	2,162
Capital expenditures	(142,236)	(149,253)
Contributions in aid of construction	19,089	13,209
Other	3,308	(16)
Net cash used in investing activities	(227,706)	(272,102)
Cash flows from financing activities
Net increase in deposit liabilities	179,856	152,383
Net increase in short-term borrowings with original maturities of three months or less	5,571	79,693
Net increase (decrease) in retail repurchase agreements	13,508	(2,053)
Proceeds from other bank borrowings	10,000	0
Proceeds from issuance of long-term debt	0	125,000
Repayment of long-term debt	0	(100,000)
Excess tax benefits from share-based payment arrangements	984	267
Net proceeds from issuance of common stock	104,469	3,048
Common stock dividends	(65,140)	(62,916)
Preferred stock dividends of subsidiaries	(946)	(946)
Other	246	(228)
Net cash provided by financing activities	248,548	194,248
Net increase (decrease) in cash and cash equivalents	125,145	(31,659)
Cash and cash equivalents, beginning of period	175,542	220,036
Cash and cash equivalents, end of period	$ 300,687	$ 188,377

Consolidated Statements of In10

Consolidated Statements of Income (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Total revenues	$ 623,912	$ 798,657	$ 1,261,774	$ 1,582,406
Operating expenses
Purchased power	149,000	188,000	285,000	353,000
Total expenses	551,182	715,474	1,119,538	1,410,009
Total operating income	72,730	83,183	142,236	172,397
Allowance for equity funds used during construction	1,896	1,387	3,309	2,996
Allowance for borrowed funds used during construction	682	523	1,181	1,137
Income taxes	20,911	23,317	40,890	49,038
Net income	35,491	41,754	67,830	88,014
Preferred stock dividends of subsidiaries	473	473	946	946
Net income for common stock	35,018	41,281	66,884	87,068
Hawaiian Electric Company, Inc. and Subsidiaries
Total revenues	558,163	738,429	1,131,605	1,458,491
Operating expenses
Fuel oil	146,231	270,257	323,037	556,557
Purchased power	149,284	188,323	285,291	353,239
Other operation and maintenance	98,864	98,564	202,866	187,170
Depreciation	44,241	41,593	88,484	83,196
Taxes, other than income taxes	53,382	69,624	108,130	137,595
Total expenses	492,002	668,361	1,007,808	1,317,757
Total operating income	66,161	70,068	123,797	140,734
Allowance for equity funds used during construction	1,896	1,387	3,309	2,996
Interest expense and other charges, net	(16,288)	(16,852)	(32,613)	(32,575)
Allowance for borrowed funds used during construction	682	523	1,181	1,137
Income before income taxes	52,451	55,126	95,674	112,292
Income taxes	19,111	20,397	34,961	41,644
Net income	33,340	34,729	60,713	70,648
Preferred stock dividends of subsidiaries	229	229	458	458
Net income attributable to Hawaiian Electric	33,111	34,500	60,255	70,190
Preferred stock dividends of Hawaiian Electric	270	270	540	540
Net income for common stock	$ 32,841	$ 34,230	$ 59,715	$ 69,650

Consolidated Statements of Co11

Consolidated Statements of Comprehensive Income (Loss) (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net income for common stock	$ 35,018	$ 41,281	$ 66,884	$ 87,068
Retirement benefit plans:
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $3,349, $1,647, $6,490 and $3,252 for the respective periods	5,780	2,873	11,239	5,686
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $3,359, $1,641, $6,486 and $3,239 for the respective periods	(5,272)	(2,575)	(10,183)	(5,085)
Other comprehensive income (loss), net of taxes	(3,127)	2,900	931	4,067
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	31,891	44,181	67,815	91,135
Hawaiian Electric Company, Inc. and Subsidiaries
Net income for common stock	32,841	34,230	59,715	69,650
Retirement benefit plans:
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $3,349, $1,647, $6,490 and $3,252 for the respective periods	5,257	2,588	10,190	5,107
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $3,359, $1,641, $6,486 and $3,239 for the respective periods	(5,272)	(2,575)	(10,183)	(5,085)
Other comprehensive income (loss), net of taxes	(15)	13	7	22
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 32,826	$ 34,243	$ 59,722	$ 69,672

Consolidated Statements of Co12

Consolidated Statements of Comprehensive Income (Loss) (unaudited) (Parenthetical) - HECO - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Less: amortization of net loss, prior service gain and transition obligation included in net periodic benefit cost, tax benefits	$ (3,691)	$ (1,836)	$ (7,177)	$ (3,632)
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, taxes	(3,359)	(1,641)	(6,486)	(3,239)
Hawaiian Electric Company, Inc. and Subsidiaries
Less: amortization of net loss, prior service gain and transition obligation included in net periodic benefit cost, tax benefits	(3,349)	(1,647)	(6,490)	(3,252)
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, taxes	$ 3,359	$ 1,641	$ 6,486	$ 3,239

Consolidated Balance Sheets (13

Consolidated Balance Sheets (unaudited) - HECO - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Utility plant, at cost
Total property, plant and equipment, net	$ 4,269,241	$ 4,148,774
Other long-term assets
Total assets	11,439,631	11,185,142
Capitalization
Retained earnings	298,398	296,654
Total shareholders’ equity	1,898,520	1,790,573
Cumulative preferred stock — not subject to mandatory redemption	$ 0	$ 0
Commitments and contingencies
Current liabilities
Interest and preferred dividends payable	$ 25,360	$ 25,336
Deferred credits and other liabilities
Deferred income taxes	632,718	633,570
Contributions in aid of construction	482,760	466,432
Total liabilities and shareholders’ equity	11,439,631	11,185,142
Hawaiian Electric Company, Inc. and Subsidiaries
Utility plant, at cost
Land	52,022	52,299
Plant and equipment	6,142,229	6,009,482
Less accumulated depreciation	(2,218,703)	(2,175,510)
Construction in progress	196,355	158,616
Utility property, plant and equipment, net	4,171,903	4,044,887
Nonutility property, plant and equipment, less accumulated depreciation of $1,228 and $1,227 at respective dates	6,562	6,563
Total property, plant and equipment, net	4,178,465	4,051,450
Current assets
Cash and cash equivalents	4,470	13,762
Customer accounts receivable, net	139,922	158,484
Accrued unbilled revenues, net	109,444	137,374
Other accounts receivable, net	5,890	4,283
Fuel oil stock, at average cost	108,408	106,046
Materials and supplies, at average cost	57,355	57,250
Prepayments and other	35,962	66,383
Regulatory assets	99,236	71,421
Total current assets	560,687	615,003
Other long-term assets
Regulatory assets	805,323	833,843
Unamortized debt expense	7,900	8,323
Other	81,932	81,838
Total other long-term assets	895,155	924,004
Total assets	5,634,307	5,590,457
Capitalization
Common stock ($6 2/3 par value, authorized 50,000,000 shares; outstanding 15,805,327 shares)	105,388	105,388
Premium on capital stock	578,933	578,938
Retained earnings	1,012,285	997,773
Accumulated other comprehensive income, net of income taxes-retirement benefit plans	52	45
Total shareholders’ equity	1,696,658	1,682,144
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,206,546	1,206,546
Total capitalization	$ 2,937,497	$ 2,922,983
Commitments and contingencies
Current liabilities
Short-term borrowings from non-affiliates	$ 88,993	$ 0
Accounts payable	147,750	163,934
Interest and preferred dividends payable	22,367	22,316
Taxes accrued	188,653	250,402
Regulatory liabilities	763	632
Other	66,385	65,146
Total current liabilities	514,911	502,430
Deferred credits and other liabilities
Deferred income taxes	605,702	602,872
Regulatory liabilities	356,326	344,217
Unamortized tax credits	83,893	79,492
Defined benefit pension and other postretirement benefit plans liability	578,637	595,395
Other	74,581	76,636
Total deferred credits and other liabilities	1,699,139	1,698,612
Contributions in aid of construction	482,760	466,432
Total liabilities and shareholders’ equity	$ 5,634,307	$ 5,590,457

Consolidated Balance Sheets (14

Consolidated Balance Sheets (unaudited) (Parenthetical) - HECO - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Common stock, authorized shares	200,000,000	200,000,000
Common stock, outstanding shares	107,446,530	102,565,266
Hawaiian Electric Company, Inc. and Subsidiaries
Nonutility property, plant and equipment, accumulated depreciation	$ 1,228	$ 1,227
Common stock, par value (in dollars per share)	$ 6.67	$ 6.67
Common stock, authorized shares	50,000,000	50,000,000
Common stock, outstanding shares	15,805,327	15,805,327

Consolidated Statements of Ch15

Consolidated Statements of Changes in Common Stock Equity (unaudited) - HECO - USD ($) $ in Thousands	Total	Hawaiian Electric Company, Inc. and Subsidiaries	Common stockHawaiian Electric Company, Inc. and Subsidiaries	Premium on capital stockHawaiian Electric Company, Inc. and Subsidiaries	Retained Earnings	Retained EarningsHawaiian Electric Company, Inc. and Subsidiaries	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss)Hawaiian Electric Company, Inc. and Subsidiaries
Beginning Balance at Dec. 31, 2013	$ 1,726,406	$ 1,593,564	$ 102,880	$ 541,452	$ 255,030	$ 948,624	$ (16,750)	$ 608
Balance (in shares) at Dec. 31, 2013			15,429,000
Increase (decrease) in stockholders' equity
Net income for common stock	87,068	69,650			87,068	69,650
Other comprehensive income, net of taxes	4,067	22					4,067	22
Common stock dividends	(62,916)	(44,246)			(62,916)	(44,246)
Common stock issuance expenses		(3)		(3)
Ending Balance at Jun. 30, 2014	1,759,935	1,618,987	$ 102,880	541,449	279,182	974,028	(12,683)	630
Balance (in shares) at Jun. 30, 2014			15,429,000
Beginning Balance at Dec. 31, 2014	$ 1,790,573	1,682,144	$ 105,388	578,938	296,654	997,773	(27,378)	45
Balance (in shares) at Dec. 31, 2014	102,565,266		15,805,000
Increase (decrease) in stockholders' equity
Net income for common stock	$ 66,884	59,715			66,884	59,715
Other comprehensive income, net of taxes	931	7					931	7
Common stock dividends	(65,140)	(45,203)			(65,140)	(45,203)
Common stock issuance expenses		(5)		(5)
Ending Balance at Jun. 30, 2015	$ 1,898,520	$ 1,696,658	$ 105,388	$ 578,933	$ 298,398	$ 1,012,285	$ (26,447)	$ 52
Balance (in shares) at Jun. 30, 2015	107,446,530		15,805,000

Consolidated Statements of Ca16

Consolidated Statements of Cash Flows (unaudited) - HECO - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities
Net income	$ 67,830	$ 88,014
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	91,731	86,397
Other amortization	4,320	4,014
Increase in deferred income taxes	22,980	28,570
Allowance for equity funds used during construction	(3,309)	(2,996)
Change in cash overdraft	193	(1,038)
Changes in assets and liabilities
Increase in fuel oil stock	(2,362)	(27,206)
Increase in regulatory assets	(19,976)	(17,731)
Change in prepaid and accrued income taxes and revenue taxes	(4,390)	(32,510)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability	218	(1,714)
Change in other assets and liabilities	(47,146)	(16,909)
Net cash provided by operating activities	104,303	46,195
Cash flows from investing activities
Capital expenditures	(142,236)	(149,253)
Contributions in aid of construction	19,089	13,209
Net cash used in investing activities	(227,706)	(272,102)
Cash flows from financing activities
Common stock dividends	(65,140)	(62,916)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	5,571	79,693
Other	246	(228)
Net cash provided by financing activities	248,548	194,248
Net increase (decrease) in cash and cash equivalents	125,145	(31,659)
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income	60,713	70,648
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	88,484	83,196
Other amortization	2,748	3,597
Increase in deferred income taxes	33,320	45,386
Change in tax credits, net	4,461	4,227
Allowance for equity funds used during construction	(3,309)	(2,996)
Change in cash overdraft	193	(1,038)
Changes in assets and liabilities
Decrease (increase) in accounts receivable	16,955	(5,039)
Decrease in accrued unbilled revenues	27,930	2,255
Increase in fuel oil stock	(2,362)	(27,206)
Increase in materials and supplies	(105)	(1,835)
Increase in regulatory assets	(19,976)	(17,731)
Decrease in accounts payable	(68,951)	(63,306)
Change in prepaid and accrued income taxes and revenue taxes	(63,613)	(38,270)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability	221	(498)
Change in other assets and liabilities	(13,102)	(26,258)
Net cash provided by operating activities	63,607	25,132
Cash flows from investing activities
Capital expenditures	(134,563)	(145,734)
Contributions in aid of construction	19,089	13,209
Net cash used in investing activities	(115,474)	(132,525)
Cash flows from financing activities
Common stock dividends	(45,203)	(44,246)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(998)	(998)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	88,993	102,989
Other	(217)	(457)
Net cash provided by financing activities	42,575	57,288
Net increase (decrease) in cash and cash equivalents	(9,292)	(50,105)
Cash and cash equivalents, beginning of period	13,762	62,825
Cash and cash equivalents, end of period	$ 4,470	$ 12,720

Basis of presentation

Basis of presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited 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 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 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, 2014 . In the opinion of HEI’s and Hawaiian Electric’s management, the accompanying unaudited consolidated financial statements contain all material adjustments required by GAAP to fairly state the Company’s and Hawaiian Electric’s financial position as of June 30, 2015 and December 31, 2014 , the results of its operations for the three and six months ended June 30, 2015 and 2014 , and its cash flows for the six months ended June 30, 2015 and 2014 . All such adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q or other referenced material. Results of operations for interim periods are not necessarily indicative of results for the full year. Prior period financial statements reflect the retrospective application of Accounting Standards Update (ASU) No. 2014-01, “Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects,” which was adopted as of January 1, 2015 and did not have a material impact on the Company’s financial condition or results of operations. See “Investments in qualified affordable housing projects” in Note 11 .

Proposed Merger

Proposed Merger	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Proposed Merger	Proposed Merger On December 3, 2014, HEI, NextEra Energy, Inc., a Florida corporation (NEE), NEE Acquisition Sub I, LLC, a Delaware limited liability company and a wholly owned subsidiary of NEE (Merger Sub II) and NEE Acquisition Sub II, Inc., a Delaware corporation and a wholly owned subsidiary of NEE (Merger Sub I), entered into an Agreement and Plan of Merger (the Merger Agreement). The Merger Agreement provides for Merger Sub I to merge with and into HEI (the Initial Merger), with HEI surviving, and then for HEI to merge with and into Merger Sub II, with Merger Sub II surviving as a wholly owned subsidiary of NEE (the Merger). The Merger is intended to qualify as a tax-free reorganization under the Internal Revenue Code of 1986, as amended, and be tax-free to HEI shareholders. Pursuant to the Merger Agreement, upon the closing of the Merger, each issued and outstanding share of HEI common stock will automatically be converted into the right to receive 0.2413 shares of common stock of NEE (the Exchange Ratio). No adjustment to the Exchange Ratio is made in the Merger Agreement for any changes in the market prices of either HEI or NEE common stock between December 3, 2014 and the closing of the Merger. The Merger Agreement contemplates that, immediately prior to the closing of the Merger, HEI will distribute to its shareholders all of the issued and outstanding shares of common stock of ASB Hawaii, the direct parent company of ASB (such distribution referred to as the Spin-Off), with ASB Hawaii becoming a new public company. In addition, the Merger Agreement contemplates that, immediately prior to the closing of the Merger, HEI will pay its shareholders a special dividend of $ 0.50 per share. The closing of the Merger is subject to various conditions, including, among others, (i) the approval of holders of 75% of the outstanding shares of HEI common stock, (ii) effectiveness of the registration statement for the NEE common stock to be issued in the Initial Merger and the listing of such shares on the New York Stock Exchange, (iii) expiration or termination of the applicable Hart-Scott-Rodino Act waiting period, (iv) receipt of all required regulatory approvals from, among others, the Federal Energy Regulatory Commission (FERC), the Federal Communications Commission and the Hawaii Public Utilities Commission, (v) the absence of any law or judgment in effect or pending in which a governmental entity has imposed or is seeking to impose a legal restraint that would prevent or make illegal the closing of the Merger, (vi) the absence of any material adverse effect with respect to either HEI or NEE, (vii) subject to certain exceptions, the accuracy of the representations and warranties of, and compliance with covenants by, each of the parties to the Merger Agreement, (viii) receipt by each of HEI and NEE of a tax opinion of its counsel regarding the tax treatment of the transactions contemplated by the Merger Agreement, (ix) effectiveness of the ASB Hawaii registration statement necessary to consummate the Spin-Off, and (x) the determination by each of HEI and NEE that, upon completion of the Spin-Off, HEI will no longer be a savings and loan holding company or be deemed to control ASB for purposes of the Home Owners' Loan Act. The Spin-Off will be subject to various conditions, including, among others, the approval of the Federal Reserve Board (FRB). The Merger Agreement contains customary representations, warranties and covenants of HEI and NEE. HEI is also subject to a “no shop” restriction that limits its ability to solicit alternative acquisition proposals, provide information or engage in discussion with third parties, except under limited circumstances to permit HEI’s board of directors to comply with its fiduciary duties. The Merger Agreement contains certain termination rights for both HEI and NEE, including the right of either party to terminate the Merger Agreement if the Merger has not been consummated by December 3, 2015 (subject to a 6 -month extension if required to obtain necessary regulatory approvals), and further provides that upon termination of the Merger Agreement under specified circumstances, HEI or NEE, as the case may be, would be required to pay the other party a termination fee of $ 90 million and reimburse the other party for up to $ 5 million of its documented out-of-pocket expenses incurred in connection with the Merger Agreement. On March 26, 2015, NEE’s Form S-4, which registers NEE common stock expected to be issued in the Initial Merger, was declared effective. Also on March 26, 2015, HEI filed its special meeting proxy statement for the vote on the merger proposal and related matters, which meeting was scheduled for May 12, 2015. On May 12, 2015, HEI shareholders approved a proposal to adjourn the special meeting of the shareholders to extend the deadline for shareholder voting on the proposed merger agreement with NEE. Thus, the special meeting was adjourned on May 12, 2015 and reconvened on June 10, 2015. Shareholders approved the proposed merger agreement with NextEra Energy on June 10, 2015. On March 30, 2015, ASB Hawaii filed its Form 10, the registration statement for ASB Hawaii shares expected to be distributed in the Spin-Off. On August 7, 2015, each of HEI and NEE filed their respective notifications pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with the U.S. Department of Justice and Federal Trade Commission. The filings initiated a 30 -day waiting period, which is scheduled to expire on September 8, 2015. PUC application . In January 2015, NEE and Hawaiian Electric filed an application with the PUC requesting approval of the proposed Merger of Hawaiian Electric. The application also requests modification of certain conditions agreed to by HEI and the PUC in 1982 for the merger and corporate restructuring of Hawaiian Electric, and confirmation that with approval of the Merger Agreement, the recommendations in the 1995 Dennis Thomas Report (resulting from a proceeding to review the relationship between HEI and Hawaiian Electric and any impact of HEI’s then diversified activities on the Utilities) will no longer be applicable. The application includes a commitment that, for at least four years following the completion of the transaction, Hawaiian Electric will not submit any applications seeking a general base rate increase and will forego recovery of the incremental operations and maintenance rate adjustment under decoupling during that period, which amounts to approximately $ 60 million in cumulative savings for customers, subject to certain exceptions and conditions, including that the following remain in effect: the RBA tariff provisions, the Rate Base RAM, the Renewable Energy Infrastructure Program, and Renewable Energy Infrastructure Surcharge, the IRP/DSM Recovery tariff provisions, the energy cost adjustment clause (ECAC) tariff provisions, the PPA tariff provision and the Pension and OPEB tracker mechanism. Various parties, including governmental, environmental and commercial interests, have been allowed to intervene in the proceeding. Twenty-eight interveners filed testimonies in the docket in July 2015. Eleven interveners recommended the merger not be approved, eleven recommended approval only with conditions, and six did not specifically make a recommendation either way. The Consumer Advocate is scheduled to file its testimonies on August 10, 2015, and the applicants are scheduled to file their responsive testimonies on August 31, 2015. Evidentiary hearings are scheduled from November 30 to December 16, 2015. Other requests . On January 29, 2015, HEI submitted its application to the FERC requesting all necessary authorization to consummate the transactions contemplated by the Merger Agreement. The FERC issued its order authorizing the proposed merger on March 27, 2015. On February 1, 2015, HEI submitted a letter to the FRB requesting deregistration as a Savings & Loan Holding Company (SLHC). Pending litigation and other matters. Litigation . HEI and its subsidiaries are subject to various legal proceedings that arise from time to time. Some of these proceedings may seek relief or damages in amounts that may be substantial. Because these proceedings are complex, many years may pass before they are resolved, and it is not feasible to predict their outcomes. Some of these proceedings involve claims HEI and Hawaiian Electric believe may be covered by insurance, and HEI and Hawaiian Electric have advised their insurance carriers accordingly. Since the D ecember 3, 2014 announcement of the merger agreement, eight purported class action complaints were filed in the Circuit Court of the First Circuit for the State of Hawaii by alleged stockholders of HEI against HEI, Hawaiian Electric (in one complaint), the individual directors of HEI, NEE and NEE's acquisition subsidiaries. The lawsuits are captioned as follows: Miller v. Hawaiian Electric Industries, Inc., et al ., Case No. 14-1-2531-12 KTN (December 15, 2014) (the Miller Action); Walsh v. Hawaiian Electric Industries, Inc., et al ., Case No. 14-1-2541-12 JHC (December 15, 2014) (the Walsh Action); Stein v. Hawaiian Electric Industries, Inc., et al ., Case No. 14-1-2555-12 KTN (December 17, 2014) (the Stein Action); Brown v. Hawaiian Electric Industries, Inc., et al. , Case No. 14-1-2643-12 RAN (December 30, 2014) (the Brown Action); Cohn v. Hawaiian Electric Industries, Inc., et al. , Case No. 14-1-2642-12 KTN (December 30, 2014) (the Cohn State Action); Guenther v. Watanabe, et al. , Case No. 15-1-003-01 ECN (January 2, 2015) (the Guenther Action); Hudson v. Hawaiian Electric Industries, Inc., et al. , Case No. 15-1-0013-01 JHC (January 5, 2015) (the Hudson Action); Grieco v. Hawaiian Electric Industries, Inc., et al. , Case No. 15-1-0094-01 KKS (January 21, 2015) (the Grieco Action). On January 12, 2015, plaintiffs in the Miller Action, the Walsh Action, the Stein Action, the Brown Action, the Guenther Action, and the Hudson Action filed a motion to consolidate their actions and to appoint co-lead counsel. The Court held a hearing on this motion on February 13, 2015 and granted consolidation and appointment of co-lead counsel on March 6, 2015. On March 10, 2015, plaintiffs in the consolidated state action filed an amended complaint, and added J.P. Morgan Securities, LLC (JP Morgan), which was HEI’s financial advisor for the Merger, as a defendant. On March 17, 2015, plaintiffs in the consolidated state action moved for limited expedited discovery. After limited discovery, the parties in the consolidated state action stipulated and the Court ordered that the deadline for defendants to respond to the amended complaint is extended indefinitely. On April 30, 2015, the Court consolidated the seven state actions under the caption, In re Consolidated HEI Shareholder Cases . On January 23, 2015, the Cohn State Action was voluntarily dismissed. Thereafter, the same alleged stockholder plaintiff filed a purported class action complaint in the United States District Court for the District of Hawaii against HEI, the individual directors of HEI, NEE and NEE's acquisition subsidiaries. The lawsuit is captioned as Cohn v. Hawaiian Electric Industries, Inc. et al. , 15-cv-00029-JMS-KSC (January 27, 2015) (the Cohn Federal Action). The actions allege, among other things, that members of HEI's Board breached their fiduciary duties in connection with the proposed transaction, and that the Merger Agreement involves an unfair price, was the product of an inadequate sales process, and contains unreasonable deal protection devices that purportedly preclude competing offers. The complaints further allege that HEI, NEE and/or its acquisition subsidiaries aided and abetted the purported breaches of fiduciary duty. The plaintiffs in these lawsuits seek, among other things, (i) a declaration that the Merger Agreement was entered into in breach of HEI's directors' fiduciary duties, (ii) an injunction enjoining the HEI Board from consummating the Merger, (iii) an order directing the HEI Board to exercise their duties to obtain a transaction which is in the best interests of HEI's stockholders, (iv) a rescission of the Merger to the extent that it is consummated, and/or (v) damages suffered as a result of the defendants' alleged actions. Plaintiffs in the consolidated state action also allege that JP Morgan had a conflict of interest in advising HEI because JP Morgan and its affiliates had business ties to and investments in NEE. The consolidated state action also alleges that the HEI board of directors violated its fiduciary duties by omitting material facts from the Registration Statement on Form S-4. In addition, the Cohn Federal Action alleges that the HEI board of directors violated its fiduciary duties and federal securities laws by omitting material facts from the Registration Statement on Form S-4. HEI and Hawaiian Electric believe the allegations of the complaints are without merit and intend to defend these lawsuits vigorously.

Segment financial information

Segment financial information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment financial information	Segment financial information (in thousands) Electric utility Bank Other Total Three months ended June 30, 2015 Revenues from external customers $ 558,156 $ 65,783 $ (27 ) $ 623,912 Intersegment revenues (eliminations) 7 — (7 ) — Revenues 558,163 65,783 (34 ) 623,912 Income (loss) before income taxes 52,451 19,726 (15,775 ) 56,402 Income taxes (benefit) 19,111 6,875 (5,075 ) 20,911 Net income (loss) 33,340 12,851 (10,700 ) 35,491 Preferred stock dividends of subsidiaries 499 — (26 ) 473 Net income (loss) for common stock 32,841 12,851 (10,674 ) 35,018 Six months ended June 30, 2015 Revenues from external customers $ 1,131,587 $ 130,131 $ 56 $ 1,261,774 Intersegment revenues (eliminations) 18 — (18 ) — Revenues 1,131,605 130,131 38 1,261,774 Income (loss) before income taxes 95,674 40,357 (27,311 ) 108,720 Income taxes (benefit) 34,961 14,031 (8,102 ) 40,890 Net income (loss) 60,713 26,326 (19,209 ) 67,830 Preferred stock dividends of subsidiaries 998 — (52 ) 946 Net income (loss) for common stock 59,715 26,326 (19,157 ) 66,884 Assets (at June 30, 2015) 5,634,307 5,777,098 28,226 11,439,631 Three months ended June 30, 2014 Revenues from external customers $ 738,423 $ 60,616 $ (382 ) $ 798,657 Intersegment revenues (eliminations) 6 — (6 ) — Revenues 738,429 60,616 (388 ) 798,657 Income (loss) before income taxes 55,126 17,956 (8,011 ) 65,071 Income taxes (benefit) 20,397 6,420 (3,500 ) 23,317 Net income (loss) 34,729 11,536 (4,511 ) 41,754 Preferred stock dividends of subsidiaries 499 — (26 ) 473 Net income (loss) for common stock 34,230 11,536 (4,485 ) 41,281 Six months ended June 30, 2014 Revenues from external customers $ 1,458,479 $ 124,235 $ (308 ) $ 1,582,406 Intersegment revenues (eliminations) 12 — (12 ) — Revenues 1,458,491 124,235 (320 ) 1,582,406 Income (loss) before income taxes 112,292 40,488 (15,728 ) 137,052 Income taxes (benefit) 41,644 14,553 (7,159 ) 49,038 Net income (loss) 70,648 25,935 (8,569 ) 88,014 Preferred stock dividends of subsidiaries 998 — (52 ) 946 Net income (loss) for common stock 69,650 25,935 (8,517 ) 87,068 Assets (at December 31, 2014) 5,590,457 5,566,222 28,463 11,185,142 Intercompany electricity sales of the Utilities to the bank and “other” segments are not eliminated because those segments would need to purchase electricity from another source if it were not provided by the Utilities, the profit on such sales is nominal and the elimination of electric sales revenues and expenses could distort segment operating income and net income for common stock. Bank fees that ASB charges the Utilities and “other” segments are not eliminated because those segments would pay fees to another financial institution if they were to bank with another institution, the profit on such fees is nominal and the elimination of bank fee income and expenses could distort segment operating income and net income for common stock.

Electric utility subsidiary

Electric utility subsidiary	6 Months Ended
	Jun. 30, 2015
Electric utility subsidiary [Abstract]
Electric utility segment	Electric utility segment Revenue taxes. The Utilities’ revenues include amounts for the recovery of various Hawaii state revenue taxes. Revenue taxes are generally recorded as an expense in the period the related revenues are recognized. However, the Utilities’ revenue tax payments to the taxing authorities in the period are based on the prior year’s billed revenues (in the case of public service company taxes and PUC fees) or on the current year’s cash collections from electric sales (in the case of franchise taxes). The Utilities included in the second quarters of 2015 and 2014 and the six months ended June 30, 2015 and 2014 approximately $50 million , $64 million , $101 million and $129 million , respectively, of revenue taxes in “revenues” and in “taxes, other than income taxes” expense. Recent tax developments. The Utilities adopted the safe harbor guidelines with respect to network assets in 2011 and, in June 2013, the IRS released a revenue procedure relating to deductions for repairs of generation property, which provides some guidance (that is elective) for taxpayers that own steam or electric generation property. This guidance defines the relevant components of generation property to be used in determining whether such component expenditures should be deducted as repairs or capitalized and depreciated by taxpayers. The revenue procedure also provides an extrapolation methodology that could be used by taxpayers in determining deductions for prior years’ repairs without going back to the specific documentation of those years. The guidance does not provide specific methods for determining the repairs amount. Management intends to adopt a method consistent with this guidance in its 2014 tax return. Unconsolidated variable interest entities. HECO Capital Trust III . HECO Capital Trust III (Trust III) was created and exists for the exclusive purposes of (i) issuing in March 2004 2,000,000 6.50% Cumulative Quarterly Income Preferred Securities, Series 2004 (2004 Trust Preferred Securities) ( $50 million aggregate liquidation preference) to the public and trust common securities ( $1.5 million aggregate liquidation preference) to Hawaiian Electric, (ii) investing the proceeds of these trust securities in 2004 Debentures issued by Hawaiian Electric in the principal amount of $31.5 million and issued by Hawaii Electric Light and Maui Electric each in the principal amount of $10 million , (iii) making distributions on these trust securities and (iv) engaging in only those other activities necessary or incidental thereto. The 2004 Trust Preferred Securities are mandatorily redeemable at the maturity of the underlying debt on March 18, 2034, which maturity may be extended to no later than March 18, 2053; and are currently redeemable at the issuer’s option without premium. The 2004 Debentures, together with the obligations of the Utilities under an expense agreement and Hawaiian Electric’s obligations under its trust guarantee and its guarantee of the obligations of Hawaii Electric Light and Maui Electric under their respective debentures, are the sole assets of Trust III. Taken together, Hawaiian Electric’s obligations under the Hawaiian Electric debentures, the Hawaiian Electric indenture, the subsidiary guarantees, the trust agreement, the expense agreement and trust guarantee provide, in the aggregate, a full, irrevocable and unconditional guarantee of payments of amounts due on the Trust Preferred Securities. Trust III has at all times been an unconsolidated subsidiary of Hawaiian Electric. Since Hawaiian Electric, as the holder of 100% of the trust common securities, does not absorb the majority of the variability of Trust III, Hawaiian Electric is not the primary beneficiary and does not consolidate Trust III in accordance with accounting rules on the consolidation of VIEs. Trust III’s balance sheets as of June 30, 2015 and December 31, 2014 each consisted of $51.5 million of 2004 Debentures; $50.0 million of 2004 Trust Preferred Securities; and $1.5 million of trust common securities. Trust III’s income statements for the six months ended June 30, 2015 and 2014 each consisted of $1.7 million of interest income received from the 2004 Debentures; $1.6 million of distributions to holders of the Trust Preferred Securities; and $50,000 of common dividends on the trust common securities to Hawaiian Electric. As long as the 2004 Trust Preferred Securities are outstanding, Hawaiian Electric is not entitled to receive any funds from Trust III other than pro-rata distributions, subject to certain subordination provisions, on the trust common securities. In the event of a default by Hawaiian Electric in the performance of its obligations under the 2004 Debentures or under its Guarantees, or in the event any of the Utilities elect to defer payment of interest on any of their respective 2004 Debentures, then Hawaiian Electric will be subject to a number of restrictions, including a prohibition on the payment of dividends on its common stock. Power purchase agreements . As of June 30, 2015 , the Utilities had six purchase power agreements (PPAs) for firm capacity and other PPAs with smaller IPPs and Schedule Q providers (i.e., customers with cogeneration and/or small power production facilities with a capacity of 100 kilowatts (kWs) or less who buy power from or sell power to the Utilities), none of which are currently required to be consolidated as VIEs. Approximately 90% of the firm capacity is purchased from AES Hawaii, Inc. (AES Hawaii), Kalaeloa Partners, L.P. (Kalaeloa), Hamakua Energy Partners, L.P. (HEP) and HPOWER. Purchases from all IPPs were as follows: Three months ended June 30 Six months ended June 30 (in millions) 2015 2014 2015 2014 AES Hawaii $ 26 $ 36 $ 60 $ 69 Kalaeloa 48 74 92 141 HEP 10 8 21 20 HPOWER 16 16 32 32 Other IPPs 49 54 80 91 Total IPPs $ 149 $ 188 $ 285 $ 353 Some of the IPPs provided sufficient information for Hawaiian Electric to determine that the IPP was not a VIE, or was either a “business” or “governmental organization,” and thus excluded from the scope of accounting standards for VIEs. Other IPPs declined to provide the information necessary for Hawaiian Electric to determine the applicability of accounting standards for VIEs. Since 2004, Hawaiian Electric has continued its efforts to obtain from the IPPs the information necessary to make the determinations required under accounting standards for VIEs. In each year from 2005 to 2014, the Utilities sent letters to the identified IPPs requesting the required information. All of these IPPs declined to provide the necessary information, except that Kalaeloa later agreed to provide the information pursuant to the amendments to its PPA (see below) and an entity owning a wind farm provided information as required under its PPA. Management has concluded that the consolidation of two entities owning wind farms was not required as Hawaii Electric Light and Maui Electric do not have variable interests in the entities because the PPAs do not require them to absorb any variability of the entities. If the requested information is ultimately received from the remaining IPPs, a possible outcome of future analyses of such information is the consolidation of one or more of such IPPs in the Consolidated Financial Statements. The consolidation of any significant IPP could have a material effect on the Consolidated Financial Statements, including the recognition of a significant amount of assets and liabilities and, if such a consolidated IPP were operating at a loss and had insufficient equity, the potential recognition of such losses. If the Utilities determine they are required to consolidate the financial statements of such an IPP and the consolidation has a material effect, the Utilities would retrospectively apply accounting standards for VIEs. Kalaeloa Partners, L.P. In October 1988, Hawaiian Electric entered into a PPA with Kalaeloa, subsequently approved by the PUC, which provided that Hawaiian Electric would purchase 180 megawatts (MW) of firm capacity for a period of 25 years beginning in May 1991. In October 2004, Hawaiian Electric and Kalaeloa entered into amendments to the PPA, subsequently approved by the PUC, which together effectively increased the firm capacity from 180 MW to 208 MW. The energy payments that Hawaiian Electric makes to Kalaeloa include: (1) a fuel component, with a fuel price adjustment based on the cost of low sulfur fuel oil, (2) a fuel additives cost component, and (3) a non-fuel component, with an adjustment based on changes in the Gross National Product Implicit Price Deflator. The capacity payments that Hawaiian Electric makes to Kalaeloa are fixed in accordance with the PPA. Kalaeloa also has a steam delivery cogeneration contract with another customer, the term of which coincides with the PPA. The facility has been certified by the Federal Energy Regulatory Commission as a Qualifying Facility under the Public Utility Regulatory Policies Act of 1978. Pursuant to the current accounting standards for VIEs, Hawaiian Electric is deemed to have a variable interest in Kalaeloa by reason of the provisions of Hawaiian Electric’s PPA with Kalaeloa. However, management has concluded that Hawaiian Electric is not the primary beneficiary of Kalaeloa because Hawaiian Electric does not have the power to direct the activities that most significantly impact Kalaeloa’s economic performance nor the obligation to absorb Kalaeloa’s expected losses, if any, that could potentially be significant to Kalaeloa. Thus, Hawaiian Electric has not consolidated Kalaeloa in its consolidated financial statements. A significant factor affecting the level of expected losses Hawaiian Electric could potentially absorb is the fact that Hawaiian Electric’s exposure to fuel price variability is limited to the remaining term of the PPA as compared to the facility’s remaining useful life. Although Hawaiian Electric absorbs fuel price variability for the remaining term of the PPA, the PPA does not currently expose Hawaiian Electric to losses as the fuel and fuel related energy payments under the PPA have been approved by the PUC for recovery from customers through base electric rates and through Hawaiian Electric’s ECAC to the extent the fuel and fuel related energy payments are not included in base energy rates. As of June 30, 2015 , Hawaiian Electric’s accounts payable to Kalaeloa amounted to $14 million . Commitments and contingencies. Fuel contracts . The Utilities have contractual agreements to purchase minimum quantities of fuel oil, diesel fuel and biodiesel for multi-year periods, some through October 2017. Fossil fuel prices are tied to the market prices of crude oil and petroleum products in the Far East and U.S. West Coast and the biodiesel price is tied to the market prices of animal fat feedstocks in the U.S. West Coast and U.S. Midwest. Updates. On August 27, 2014, Chevron Products Company (Chevron) and Hawaiian Electric entered into a first amendment of their Low Sulfur Fuel Oil Supply Contract, which was approved by the PUC in March 2015. The Amendment reduces the price of fuel above certain volumes, allows for increases in the volume of fuel, and modifies the specification of certain petroleum products supplied under the contract. In addition, Chevron agreed to supply a blend of low sulfur fuel oil (LSFO) and diesel as soon as January 2016 (for supply through the end of the contract term, December 31, 2016) to help Hawaiian Electric meet more stringent EPA air emission requirements known as Mercury and Air Toxics Standards. The Utilities are parties to amended contracts for the supply of industrial fuel oil and diesel fuels with Chevron and Hawaii Independent Energy, LLC (HIE), respectively, which were scheduled to end December 31, 2015. In August 2014, Chevron and the Utilities entered into a third amendment to the Inter-Island Industrial Fuel Oil and Diesel Fuel Supply Contract, which amendment extended the term of the contract through December 31, 2016 and provided for automatic renewal for annual terms thereafter unless earlier terminated by either party. In February 2015, Hawaiian Electric executed a similar extension, through December 31, 2016, of the corresponding Inter-Island Industrial Fuel Oil and Diesel Fuel Supply Contract with HIE. In June 2015, the Utilities issued Requests for Proposals (RFP) for most of their fuel needs with supplies beginning in 2017 after the expiration of Chevron LSFO and Chevron/HIE Interisland contracts on December 31, 2016. Proposals were received in July 2015 and new contracts, which would be subject to PUC approval, are expected to be executed by December 31, 2015. AES Hawaii, Inc. Under a PPA entered into in March 1988, as amended, for a period of 30 years beginning September 1992, Hawaiian Electric agreed to purchase 180 MW of firm capacity from AES Hawaii, Inc. (AES Hawaii). In August 2012, Hawaiian Electric filed an application with the PUC seeking an exemption from the PUC’s Competitive Bidding Framework to negotiate an amendment to the PPA to purchase 186 MW of firm capacity, extend the PPA term until 2032, and amend the energy pricing formula in the PPA. The PUC approved the exemption in April 2013, and Hawaiian Electric has been in negotiations with AES Hawaii; however, Hawaiian Electric and AES Hawaii have not reached agreement on an amendment. In June 2015, AES Hawaii filed an arbitration demand regarding a dispute about whether Hawaiian Electric was obligated to buy up to 9 MW of additional capacity based on a 1992 letter. Hawaiian Electric believes the claim asserted in the arbitration demand is without merit. Hawaiian Electric has responded to the arbitration demand. Management cannot predict the outcome of the arbitration proceeding. Liquefied natural gas . On May 31, 2015 the previous August 2014 agreement with Fortis BC Energy Inc. (Fortis) for liquefaction capacity for liquefied natural gas (LNG) was superseded with a liquefaction Heads of Agreement by and between FortisBC Holdings Inc. and Hawaiian Electric Company, Inc. The agreement, which is subject to Hawaii PUC approval, other regulatory approvals and permits, and other conditions precedent before it becomes effective, provides for LNG liquefaction capacity purchases of 700,000 tonnes per year for the first five years, 600,000 tonnes per year for the next five years, and 500,000 tonnes per year for the last ten years. Fortis must also obtain regulatory and other approvals for the agreement to become effective. The Fortis agreement is assignable and can be assigned to the selected bidder in the Utilities’ RFP for the supply of containerized LNG and will help ensure that liquefaction capacity is available at pricing that management believes will lower customer bills. 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. In recent years, legislative, regulatory and governmental activities related to the environment, including proposals and rulemaking under the Clean Air Act and Clean Water Act (CWA), have increased significantly and management anticipates that such activity will continue. On August 14, 2014, the Environmental Protection Agency (EPA) published in the Federal Register the final regulations required by section 316(b) of the CWA designed to protect aquatic organisms from adverse impacts associated with existing power plant cooling water intake structures. The regulations were effective October 14, 2014 and apply to the cooling water systems for the steam generating units at Hawaiian Electric’s power plants on the island of Oahu. The regulations prescribe a process, including a number of required site-specific studies, for states to develop facility-specific entrainment and impingement controls to be incorporated in each facility’s National Pollutant Discharge Elimination System permit. In the case of Hawaiian Electric’s power plants, there are a number of studies that have yet to be completed before Hawaiian Electric and the State of Hawaii Department of Health (DOH) can determine what entrainment or impingement controls, if any, might be necessary at the affected facilities to comply with the new 316(b) rule. On February 16, 2012, the Federal Register published the EPA’s final rule establishing the EPA’s National Emission Standards for Hazardous Air Pollutants for fossil-fuel fired steam electrical generating units (EGUs). The final rule, known as the Mercury and Air Toxics Standards (MATS), applies to the 14 EGUs at Hawaiian Electric’s power plants. MATS establishes the Maximum Achievable Control Technology standards for the control of hazardous air pollutants emissions from new and existing EGUs. Based on a review of the final rule and the benefits and costs of alternative compliance strategies, Hawaiian Electric has selected a MATS compliance strategy based on switching to lower emission fuels. The use of lower emission fuels will provide for MATS compliance at lower overall costs and avoid the reduction in operational flexibility imposed by emissions control equipment. Hawaiian Electric requested and received a one -year extension, resulting in a MATS compliance date of April 16, 2016. Hawaiian Electric submitted to the EPA a Petition for Reconsideration and Stay dated April 16, 2012, and a Request for Expedited Consideration dated August 14, 2013. The submittals asked the EPA to revise an emissions standard for non-continental oil-fired EGUs on the grounds that the promulgated standard was incorrectly derived. The Petition and Request submittals to the EPA included additional data to demonstrate that the existing standard is erroneous. On April 21, 2015, the EPA issued a notice denying Hawaiian Electric's MATS Petition for Reconsideration along with all other pending MATS petitions. Hawaiian Electric is now pursuing judicial relief through an appeal of EPA’s denial of the Petition. On June 29, 2015, the United State Supreme Court found that the EPA’s determination that it was appropriate and “necessary” to regulate hazardous air pollutants from power plants was flawed because the EPA did not take the costs of compliance into account. The Supreme Court sent the MATS rule case back to the D.C. Circuit Court of Appeals for further proceedings. The likely timeframe for action by the Circuit Court is October 2015. Pending action by the Circuit Court, Hawaiian Electric will continue with its plan to comply with the MATS requirements by April 16, 2016. On February 6, 2013, the EPA issued a guidance document titled “Next Steps for Area Designations and Implementation of the Sulfur Dioxide National Ambient Air Quality Standard,” which outlines a process that will provide the states additional flexibility and time for their development of one-hour sulfur dioxide (SO 2 ) National Ambient Air Quality Standard (NAAQS) implementation plans. In May 2014, the EPA published a proposed data requirements rule for states to characterize their air quality in relation to the one-hour SO 2 NAAQS. Under the proposed rule, the EPA expects to designate areas as attaining, or not attaining, the one-hour SO 2 NAAQS in December 2017 or December 2020, depending on whether the area was characterized through modeling or monitoring. Hawaiian Electric will work with the DOH in implementing the one-hour SO 2 NAAQS and in developing cost-effective strategies for NAAQS compliance, if needed. Depending upon the rules and guidance developed for compliance with the more stringent NAAQS, the Utilities may be required to incur material capital expenditures and other compliance costs, but such amounts and their timing are not determinable at this time. Additionally, the combined effects of the CWA 316(b) regulations, the MATS rule and the more stringent NAAQS may contribute to a decision to retire or deactivate certain generating units earlier than anticipated. Hawaiian Electric, Hawaii Electric Light and Maui Electric, like other utilities, periodically encounter petroleum or other chemical releases into the environment 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 adverse effect, individually or in the aggregate, on Hawaiian Electric’s consolidated results of operations, financial condition or liquidity. Potential Clean Air Act Enforcement. On July 1, 2013, Hawaii Electric Light and Maui Electric received a letter from the U.S. Department of Justice (DOJ) asserting potential violations of the Prevention of Significant Deterioration (PSD) and Title V requirements of the Clean Air Act involving the Hill and Kahului Power Plants. The EPA referred the matter to the DOJ for enforcement based on Hawaii Electric Light’s and Maui Electric’s responses to information requests in 2010 and 2012. The letter expresses an interest in resolving the matter without the issuance of a notice of violation. The parties had preliminary discussions in February 2014, and are continuing to negotiate toward a resolution of the DOJ’s claims. As part of the ongoing negotiations, the DOJ proposed in November 2014 entering into a consent decree pursuant to which the Utilities would install certain pollution controls and pay a penalty. The Utilities are currently reviewing the proposal, but are unable to estimate the amount or effect of a consent decree, if any, at this time. Former Molokai Electric Company generation site . In 1989, Maui Electric acquired by merger 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. The EPA has since performed Brownfield assessments of the Site that identified environmental impacts in the subsurface. Although Maui Electric never operated at the Site and operations there had stopped four years before the merger, in discussions with the EPA and the DOH, Maui Electric agreed to undertake additional investigations at the Site and an adjacent parcel that Molokai Electric Company had used for equipment storage (the Adjacent Parcel) to determine the extent of impacts of subsurface contaminants. A 2011 assessment by a Maui Electric contractor of the Adjacent Parcel identified environmental impacts, including elevated polychlorinated biphenyls (PCBs) in the subsurface soils. In cooperation with the DOH and EPA, Maui Electric is further investigating the Site and the Adjacent Parcel to determine the extent of impacts of PCBs, residual fuel oils, and other subsurface contaminants. In March 2012, Maui Electric accrued an additional $3.1 million (reserve balance of $3.6 million as of June 30, 2015 ) for the additional investigation and estimated cleanup costs at the Site and the Adjacent Parcel; however, final costs of remediation will depend on the results of continued investigation. Maui Electric received the DOH’s and EPA’s comments on a draft site investigation plan for site characterization in the fourth quarter of 2013. Management concluded that these comments did not require a change to the reserve balance. The site investigation plan was revised to address the EPA’s and DOH’s comments. The final site investigation plan was submitted to the DOH and EPA in December 2014 for their review and approval. The DOH and EPA are currently reviewing the final site investigation plan. Maui Electric is awaiting formal agency approval of this plan before commencing the site investigation. Pearl Harbor sediment study . The U.S. Navy has completed a remedial investigation and is currently conducting a feasibility study for the remediation of contaminated sediment at several locations in Pearl Harbor. In the course of its study, the Navy identified elevated levels of PCBs in the sediment in East Loch of Pearl Harbor, offshore from the Waiau Power Plant. The results of the Navy’s study to date, including sampling data and possible remediation approaches, are undergoing further federal review. Hawaiian Electric submitted comments on the Navy’s study, including the further investigation and analyses that are necessary to identify appropriate remedial options and actions. In July 2014, the Navy notified Hawaiian Electric of the Navy’s determination that Hawaiian Electric is responsible for cleanup of the area offshore of the Waiau Power Plant. The Navy has also requested that Hawaiian Electric reimburse the costs incurred by the Navy to date to investigate the area, and is asking Hawaiian Electric to engage in negotiations regarding the financing and undertaking of future response actions to address the sediment contamination offshore from the Waiau Power Plant. The extent of the contamination, the appropriate remedial measures to address it, and Hawaiian Electric’s potential responsibility for any associated costs, including any past costs incurred by the Navy, have not yet been determined. In December 2014, Hawaiian Electric recorded a reserve of $0.8 million for additional investigation of the PCBs in the sediment offshore from the Waiau Power Plant; however, final costs of remediation will depend on the results of the additional investigation. On March 23, 2015, Hawaiian Electric received from the EPA a letter requesting that Hawaiian Electric submit within 45 days a work plan to assess potential sources and extent of PCB contamination onshore at the Waiau Power Plant. Hawaiian Electric submitted a sampling and analysis work plan to the EPA and the State Department of Health; the work plan is currently being reviewed by the regulators. The extent of the onshore contamination, the appropriate remedial measures to address it, and any associated costs have not yet been determined. Hawaiian Electric has also conducted a search for other potential sources of sediment contamination in the Waiau area that are unrelated to electric power generation at its Waiau Power Plant. A potential source was identified east of the plant. This potential source, located on the property currently occupied by the City and County (C&C) of Honolulu’s Neal S. Blaisdell Park, is a former Naval Reserve site where a used drum storage area, a waste oil burning pit, and an oil/water separator were operated by the Navy from the 1940s until approximately 1963. To further assess this former Naval Reserve site, Hawaiian Electric has requested environmental investigation reports, environmental data, and permits for this property and the adjacent Waimalu Stream (e.g., dredging permits and related environmental impact assessments and studies) from several federal and state agencies, as well as the C&C of Honolulu. The contribution of PCBs to sediment contamination in East Loch from this potential source has not yet been determined. Global climate change and greenhouse gas emissions reduction. National and international concern about climate change and the contribution of greenhouse gas (GHG) emissions (including carbon dioxide emissions from the combustion of fossil fuels) to climate change have led to action by the State and to federal legislative and regulatory proposals to reduce GHG emissions. In July 2007, Act 234, which requires a statewide reduction of GHG emissions by January 1, 2020 to levels at or below the statewide GHG emission levels in 1990, became law in Hawaii. On June 20, 2014, the Governor signed the final regulations required to implement Act 234 and the regulations went into effect on June 30, 2014. In general, the regulations will require affected sources that have the potential to emit GHGs in excess of established thresholds to reduce GHG emissions by 16% below 2010 emission levels by 2020. The regulations will also assess affected sources an annual fee based on tons per year of GHG emissions commencing on the effective date of the regulations, estimated to be approximately $0.5 million annually for the Utilities. The DOH GHG regulations also track the federal “Prevention of Significant Deterioration and Title V Greenhouse Gas Tailoring Rule” (GHG Tailoring Rule, see below) and would create new thresholds for GHG emissions from new and existing stationary source facilities. State of Hawaii Act 234 requires a statewide reduction of GHG emissions by January 1, 2020 to levels at or below the statewide GHG emission levels in 1990. The state GHG regulations were effective on June 30, 2014. In general, the state GHG regulations require entities that have the potential to emit GHGs in excess of established thresholds to reduce GHG emissions by 16 percent below 2010 emission levels by 2020. The latest assessment of the proposed federal and final state GHG rules is that the continued growth in renewable power generation will significantly reduce the compliance costs and risk for the Utilities. Several approaches (e.g., “cap and trade”) to GHG emission reduction have been either introduced or discussed in the U.S. Congress; however, no federal legislation has yet been enacted. On September 22, 2009, the EPA issued its Final Mandatory Reporting of Greenhouse Gases Rule, which requires that sources emitting GHGs above certain threshold levels monitor and report GHG emissions. The Utilities have submitted the required reports for 2010 through 2013 to the EPA. In December 2009, the EPA made the finding that motor vehicle GHG emissions endanger public health or welfare. Since then, the EPA has also issued rules that begin to address GHG emissions from stationary sources, like the Utilities’ EGUs. In June 2010, the EPA issued its GHG Tailoring Rule covering the permitting of new or modified stationary sources that have the potential to emit GHGs in greater quantities than the thresholds set forth in the rule, under the Prevention of Significant Deterioration program. On June 23, 2014, the U.S. Supreme Court issued a decision that invalidated the GHG Tailoring Rule, to the extent it regulated sources based solely on their GHG emissions. It also invalidated the GHG emissions threshold for regulation. On December 19, 2014, the EPA released two memoranda outlining the Agency’s plan for addressing the U.S. Supreme Court’s decision. Hawaiian Electric, Hawaii Electric Light and Maui Electric are evaluating the potential impacts of the Agency’s plan on utility operations and permitting. On January 8, 2014, the EPA published in the Federal Register its new proposal for New Source Performance Standards for GHG from new generating units. The proposed rule on GHG from new EGUs does not apply to oil- fired combustion turbines or diesel engine generators, and is not otherwise expected to have significant impacts on the Utilities. On June 18, 2014, the EPA published in the Federal Register its proposed rule for GHG emissions (i.e., carbon emission) from existing power plants. The proposed rule, known as the Clean Power Plan, sets interim and final state-wide, state-specific emission performance goals, expressed as lb CO2/MWh, that would apply to the state’s affected sources. The interim goal would apply as an average over the period 2020 through 2029, with the final goal to be met by 2030. On the same date, the EPA also published a separate rule for modified and reconstructed power plants. On August, 3, 2015, the EPA released the final version of the Clean Power Plan, which sets carbon emission standards for fossil fuel fired electric generating units at power plants and carbon emission reduction goals for states. The final Clean Power Plan specifically exempts power plants in Hawaii, including those of Hawaiian Electric and its subsidiaries, as well as power plants in Alaska, Guam and Puerto Rico. The Utilities have taken, and continue to identify opportunities to take, direct action to reduce GHG emissions from their operations, including, but not limited to, supporting DSM programs that foster energy efficiency, using renewable resources for energy production and purchasing power from IPPs generated by renewable resources, burning renewable biodiesel in Hawaiian Electric’s Campbell Industrial Park combustion turbine No. 1 (CIP CT-1), using biodiesel for startup and shutdown of selected Maui Electric generating units, and testing biofuel blends in other Hawaiian Electric and Maui Electric generating units. The Utilities are also working with the State of Hawaii and other entities to pursue the use of liquefied natural gas as a cleaner and lower cost fuel to replace, at least in part, the petrol

Bank segment

Bank segment	6 Months Ended
	Jun. 30, 2015
Bank subsidiary
Bank segment	Bank segment Selected financial information American Savings Bank, F.S.B. Statements of Income Data Three months ended Six months (in thousands) 2015 2014 2015 2014 Interest and dividend income Interest and fees on loans $ 46,035 $ 43,851 $ 91,233 $ 87,533 Interest and dividends on investment securities 3,306 2,950 6,357 5,985 Total interest and dividend income 49,341 46,801 97,590 93,518 Interest expense Interest on deposit liabilities 1,266 1,237 2,526 2,462 Interest on other borrowings 1,487 1,420 2,953 2,825 Total interest expense 2,753 2,657 5,479 5,287 Net interest income 46,588 44,144 92,111 88,231 Provision for loan losses 1,825 1,021 2,439 2,016 Net interest income after provision for loan losses 44,763 43,123 89,672 86,215 Noninterest income Fees from other financial services 5,550 5,217 10,905 10,345 Fee income on deposit liabilities 5,424 4,645 10,739 9,066 Fee income on other financial products 2,103 2,064 3,992 4,354 Bank-owned life insurance 1,058 982 2,041 1,945 Mortgage banking income 2,068 246 3,890 874 Gains on sale of investment securities — — — 2,847 Other income, net 239 661 974 1,286 Total noninterest income 16,442 13,815 32,541 30,717 Noninterest expense Compensation and employee benefits 22,319 19,872 44,085 40,158 Occupancy 4,009 4,489 8,122 8,442 Data processing 2,953 2,971 6,069 6,031 Services 2,833 2,855 5,174 5,128 Equipment 1,690 1,609 3,391 3,254 Office supplies, printing and postage 1,303 1,456 2,786 3,072 Marketing 844 1,031 1,685 1,742 FDIC insurance 773 805 1,584 1,601 Other expense 4,755 3,894 8,960 7,016 Total noninterest expense 41,479 38,982 81,856 76,444 Income before income taxes 19,726 17,956 40,357 40,488 Income taxes 6,875 6,420 14,031 14,553 Net income $ 12,851 $ 11,536 $ 26,326 $ 25,935 American Savings Bank, F.S.B. Statements of Comprehensive Income Data Three months ended Six months (in thousands) 2015 2014 2015 2014 Net income $ 12,851 $ 11,536 $ 26,326 $ 25,935 Other comprehensive income (loss), net of taxes: Net unrealized gains (losses) on available-for-sale investment securities: Net unrealized gains (losses) on available-for-sale investment securities arising during the period, net of (taxes) benefits of $2,439, $(1,679), $161 and $(3,343) for the respective periods (3,694 ) 2,543 (243 ) 5,063 Less: reclassification adjustment for net realized gains included in net income, net of taxes of nil, nil, nil and $1,132 for the respective periods — — — (1,715 ) Retirement benefit plans: Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $255, $142, $514 and $286 for the respective periods 387 215 779 434 Other comprehensive income (loss), net of taxes (3,307 ) 2,758 536 3,782 Comprehensive income $ 9,544 $ 14,294 $ 26,862 $ 29,717 American Savings Bank, F.S.B. Balance Sheets Data (in thousands) June 30, 2015 December 31, 2014 Assets Cash and due from banks $ 106,914 $ 107,233 Interest-bearing deposits 162,088 54,230 Available-for-sale investment securities, at fair value 693,520 550,394 Stock in Federal Home Loan Bank, at cost 10,678 69,302 Loans receivable held for investment 4,457,182 4,434,651 Allowance for loan losses (46,365 ) (45,618 ) Net loans 4,410,817 4,389,033 Loans held for sale, at lower of cost or fair value 5,581 8,424 Other 305,310 305,416 Goodwill 82,190 82,190 Total assets $ 5,777,098 $ 5,566,222 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,455,721 $ 1,342,794 Deposit liabilities—interest-bearing 3,347,550 3,280,621 Other borrowings 314,157 290,656 Other 113,015 118,363 Total liabilities 5,230,443 5,032,434 Commitments and contingencies Common stock 1 1 Additional paid in capital 339,416 338,411 Retained earnings 223,260 211,934 Accumulated other comprehensive loss, net of tax benefits Net unrealized gains on securities $ 219 $ 462 Retirement benefit plans (16,241 ) (16,022 ) (17,020 ) (16,558 ) Total shareholder’s equity 546,655 533,788 Total liabilities and shareholder’s equity $ 5,777,098 $ 5,566,222 Other assets Bank-owned life insurance $ 136,062 $ 134,115 Premises and equipment, net 85,976 92,407 Prepaid expenses 3,728 3,196 Accrued interest receivable 14,052 13,632 Mortgage-servicing rights 12,265 11,540 Low-income housing equity investments 30,974 33,438 Real estate acquired in settlement of loans, net 318 891 Other 21,935 16,197 $ 305,310 $ 305,416 Other liabilities Accrued expenses $ 26,915 $ 37,880 Federal and state income taxes payable 26,502 28,642 Cashier’s checks 27,670 20,509 Advance payments by borrowers 10,093 9,652 Other 21,835 21,680 $ 113,015 $ 118,363 Bank-owned life insurance is life insurance purchased by ASB on the lives of certain key employees, with ASB as the beneficiary. The insurance is used to fund employee benefits through tax-free income from increases in the cash value of the policies and insurance proceeds paid to ASB upon an insured’s death. Other borrowings consisted of securities sold under agreements to repurchase and advances from the Federal Home Loan Bank (FHLB) of $214 million and $100 million , respectively, as of June 30, 2015 and $191 million and $100 million , respectively, as of December 31, 2014 . Available-for-sale investment securities. The major components of investment securities were as follows: Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Gross unrealized losses Less than 12 months 12 months or longer (dollar in thousands) Number of issues Fair value Amount Number of issues Fair value Amount June 30, 2015 Available-for-sale U.S. Treasury and federal agency obligations $ 168,143 $ 1,355 $ (1,039 ) $ 168,459 12 $ 76,835 $ (477 ) 3 $ 18,332 $ (562 ) Mortgage-related securities- FNMA, FHLMC and GNMA 525,014 5,217 (5,170 ) 525,061 20 170,965 (1,622 ) 25 136,546 (3,548 ) $ 693,157 $ 6,572 $ (6,209 ) $ 693,520 32 $ 247,800 $ (2,099 ) 28 $ 154,878 $ (4,110 ) December 31, 2014 Available-for-sale U.S. Treasury and federal agency obligations $ 119,507 $ 1,092 $ (1,039 ) $ 119,560 6 $ 41,970 $ (361 ) 5 $ 29,168 $ (678 ) Mortgage-related securities- FNMA, FHLMC and GNMA 430,120 5,653 (4,939 ) 430,834 6 47,029 (164 ) 29 172,623 (4,775 ) $ 549,627 $ 6,745 $ (5,978 ) $ 550,394 12 $ 88,999 $ (525 ) 34 $ 201,791 $ (5,453 ) The unrealized losses on ASB’s investments in mortgage-related securities and obligations issued by federal agencies were caused by interest rate movements. Because ASB does not intend to sell the securities and has determined it is more likely than not that it will not be required to sell the investments before recovery of their amortized cost basis, which may be at maturity, ASB did not consider these investments to be other-than-temporarily impaired at June 30, 2015 . The fair values of ASB’s investment securities could decline if interest rates rise or spreads widen. U.S. Treasury and federal agency obligations have contractual terms to maturity. Mortgage-related 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 available-for-sale investment securities were as follows: June 30, 2015 Amortized cost Fair value (in thousands) Due in one year or less $ — $ — Due after one year through five years 37,272 37,631 Due after five years through ten years 77,747 78,291 Due after ten years 53,124 52,537 168,143 168,459 Mortgage-related securities-FNMA,FHLMC and GNMA 525,014 525,061 Total available-for-sale securities $ 693,157 $ 693,520 Allowance for loan losses. The allowance for loan losses (balances and changes) and financing receivables were as follows: (in thousands) Residential 1-4 family Commercial real estate Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Unallocated Total Three months ended Allowance for loan losses: Beginning balance $ 4,921 $ 11,228 $ 6,523 $ 2,286 $ 2,837 $ 21 $ 14,580 $ 3,399 $ — $ 45,795 Charge-offs (58 ) — (17 ) — — — (756 ) (983 ) — (1,814 ) Recoveries 55 — 8 136 — — 106 254 — 559 Provision (627 ) (808 ) 99 (319 ) (262 ) (3 ) 3,539 206 — 1,825 Ending balance $ 4,291 $ 10,420 $ 6,613 $ 2,103 $ 2,575 $ 18 $ 17,469 $ 2,876 $ — $ 46,365 Three months ended Allowance for loan losses: Beginning balance $ 5,475 $ 5,715 $ 5,969 $ 1,575 $ 3,063 $ 24 $ 15,592 $ 2,316 $ 1,194 $ 40,923 Charge-offs (94 ) — (136 ) (47 ) — — (246 ) (461 ) — (984 ) Recoveries 555 — 314 77 — — 225 241 — 1,412 Provision (269 ) 1,515 934 232 327 2 (427 ) (99 ) (1,194 ) 1,021 Ending balance $ 5,667 $ 7,230 $ 7,081 $ 1,837 $ 3,390 $ 26 $ 15,144 $ 1,997 $ — $ 42,372 Six months ended Allowance for loan losses: Beginning balance $ 4,662 $ 8,954 $ 6,982 $ 1,875 $ 5,471 $ 28 $ 14,017 $ 3,629 $ — $ 45,618 Charge-offs (214 ) — (20 ) — — — (802 ) (1,925 ) — (2,961 ) Recoveries 67 — 39 185 — — 447 531 — 1,269 Provision (224 ) 1,466 (388 ) 43 (2,896 ) (10 ) 3,807 641 — 2,439 Ending balance $ 4,291 $ 10,420 $ 6,613 $ 2,103 $ 2,575 $ 18 $ 17,469 $ 2,876 $ — $ 46,365 Ending balance: individually evaluated for impairment $ 1,363 $ — $ 269 $ 1,048 $ — $ — $ 2,702 $ 8 $ 5,390 Ending balance: collectively evaluated for impairment $ 2,928 $ 10,420 $ 6,344 $ 1,055 $ 2,575 $ 18 $ 14,767 $ 2,868 $ — $ 40,975 Financing Receivables: Ending balance $ 2,045,357 $ 561,262 $ 820,296 $ 17,273 $ 62,444 $ 19,984 $ 821,636 $ 115,167 $ 4,463,419 Ending balance: individually evaluated for impairment $ 22,720 $ 522 $ 1,899 $ 6,534 $ — $ — $ 23,541 $ 15 $ 55,231 Ending balance: collectively evaluated for impairment $ 2,022,637 $ 560,740 $ 818,397 $ 10,739 $ 62,444 $ 19,984 $ 798,095 $ 115,152 $ 4,408,188 Six months ended Allowance for loan losses: Beginning balance $ 5,534 $ 5,059 $ 5,229 $ 1,817 $ 2,397 $ 19 $ 15,803 $ 2,367 $ 1,891 $ 40,116 Charge-offs (360 ) — (136 ) (53 ) — — (370 ) (1,022 ) — (1,941 ) Recoveries 896 — 325 163 — — 325 472 — 2,181 Provision (403 ) 2,171 1,663 (90 ) 993 7 (614 ) 180 (1,891 ) 2,016 Ending balance $ 5,667 $ 7,230 $ 7,081 $ 1,837 $ 3,390 $ 26 $ 15,144 $ 1,997 $ — $ 42,372 Ending balance: individually evaluated for impairment $ 969 $ 941 $ 14 $ 1,202 $ — $ — $ 1,239 $ 5 $ 4,370 Ending balance: collectively evaluated for impairment $ 4,698 $ 6,289 $ 7,067 $ 635 $ 3,390 $ 26 $ 13,905 $ 1,992 $ — $ 38,002 Financing Receivables: Ending balance $ 2,019,092 $ 476,116 $ 790,837 $ 17,189 $ 80,312 $ 17,441 $ 782,804 $ 111,254 $ 4,295,045 Ending balance: individually evaluated for impairment $ 17,978 $ 4,512 $ 612 $ 9,320 $ — $ — $ 18,042 $ 17 $ 50,481 Ending balance: collectively evaluated for impairment $ 2,001,114 $ 471,604 $ 790,225 $ 7,869 $ 80,312 $ 17,441 $ 764,762 $ 111,237 $ 4,244,564 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 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 PD Model rating, the LGD, 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 the Bank 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. The credit risk profile by internally assigned grade for loans was as follows: June 30, 2015 December 31, 2014 (in thousands) Commercial real estate Commercial construction Commercial Commercial real estate Commercial construction Commercial Grade: Pass $ 507,904 $ 58,356 $ 763,238 $ 493,105 $ 79,312 $ 743,334 Special mention 7,232 4,088 10,313 5,209 — 16,095 Substandard 46,126 — 47,492 33,603 17,126 31,665 Doubtful — — 593 — — 663 Loss — — — — — — Total $ 561,262 $ 62,444 $ 821,636 $ 531,917 $ 96,438 $ 791,757 The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 days past due 60-89 days past due Greater than 90 days Total past due Current Total financing receivables Recorded investment> 90 days and accruing June 30, 2015 Real estate: Residential 1-4 family $ 5,016 $ 1,900 $ 11,998 $ 18,914 $ 2,026,443 $ 2,045,357 $ — Commercial real estate — — — — 561,262 561,262 — Home equity line of credit 923 284 389 1,596 818,700 820,296 — Residential land 420 267 — 687 16,586 17,273 Commercial construction — — — — 62,444 62,444 — Residential construction — — — — 19,984 19,984 — Commercial 907 147 528 1,582 820,054 821,636 — Consumer 1,119 331 295 1,745 113,422 115,167 — Total loans $ 8,385 $ 2,929 $ 13,210 $ 24,524 $ 4,438,895 $ 4,463,419 $ — December 31, 2014 Real estate: Residential 1-4 family $ 6,124 $ 1,732 $ 12,632 $ 20,488 $ 2,023,717 $ 2,044,205 $ — Commercial real estate — — — — 531,917 531,917 — Home equity line of credit 1,341 501 194 2,036 816,779 818,815 — Residential land — — — — 16,240 16,240 — Commercial construction — — — — 96,438 96,438 — Residential construction — — — — 18,961 18,961 — Commercial 699 145 569 1,413 790,344 791,757 — Consumer 829 333 403 1,565 121,091 122,656 — Total loans $ 8,993 $ 2,711 $ 13,798 $ 25,502 $ 4,415,487 $ 4,440,989 $ — The credit risk profile based on nonaccrual loans, accruing loans 90 days or more past due and TDR loans was as follows: (in thousands) June 30, 2015 December 31, 2014 Real estate: Residential 1-4 family $ 18,172 $ 19,253 Commercial real estate 522 5,112 Home equity line of credit 1,962 1,087 Residential land 712 720 Commercial construction — — Residential construction — — Commercial 9,225 10,053 Consumer 543 661 Total nonaccrual loans $ 31,136 $ 36,886 Real estate: Residential 1-4 family $ — $ — Commercial real estate — — Home equity line of credit — — Residential land — — Commercial construction — — Residential construction — — Commercial — — Consumer — — Total accruing loans 90 days or more past due $ — $ — Real estate: Residential 1-4 family $ 14,257 $ 13,525 Commercial real estate — — Home equity line of credit 1,362 480 Residential land 5,822 7,130 Commercial construction — — Residential construction — — Commercial 1,315 2,972 Consumer — — Total troubled debt restructured loans not included above $ 22,756 $ 24,107 The total carrying amount and the total unpaid principal balance of impaired loans were as follows: June 30, 2015 Three months ended Six months ended (in thousands) Recorded investment Unpaid principal balance Related Allowance Average recorded investment Interest income recognized* Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 11,132 $ 12,417 $ — $ 11,193 $ 66 $ 11,373 $ 155 Commercial real estate 522 593 — 530 — 543 — Home equity line of credit 376 583 — 433 1 417 2 Residential land 2,597 3,366 — 3,026 44 2,831 96 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 5,221 7,119 — 5,432 139 6,363 141 Consumer — — — — — — — $ 19,848 $ 24,078 $ — $ 20,614 $ 250 $ 21,527 $ 394 With an allowance recorded Real estate: Residential 1-4 family $ 11,588 $ 11,641 $ 1,363 $ 11,794 $ 130 $ 11,651 $ 256 Commercial real estate — — — 1,474 — 2,978 — Home equity line of credit 1,523 1,585 269 1,212 8 919 14 Residential land 3,937 4,015 1,048 4,142 84 4,666 167 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 18,320 20,161 2,702 9,358 36 7,170 86 Consumer 15 15 8 15 — 15 — $ 35,383 $ 37,417 $ 5,390 $ 27,995 $ 258 $ 27,399 $ 523 Total Real estate: Residential 1-4 family $ 22,720 $ 24,058 $ 1,363 $ 22,987 $ 196 $ 23,024 $ 411 Commercial real estate 522 593 — 2,004 — 3,521 — Home equity line of credit 1,899 2,168 269 1,645 9 1,336 16 Residential land 6,534 7,381 1,048 7,168 128 7,497 263 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 23,541 27,280 2,702 14,790 175 13,533 227 Consumer 15 15 8 15 — 15 — $ 55,231 $ 61,495 $ 5,390 $ 48,609 $ 508 $ 48,926 $ 917 December 31, 2014 Year ended December 31, 2014 (in thousands) Recorded investment Unpaid principal balance Related allowance Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 11,654 $ 12,987 $ — $ 9,056 $ 227 Commercial real estate 571 626 — 194 — Home equity line of credit 363 606 — 402 5 Residential land 2,344 3,200 — 2,728 172 Commercial construction — — — — — Residential construction — — — — — Commercial 8,235 11,471 — 5,204 38 Consumer — — — 8 — $ 23,167 $ 28,890 $ — $ 17,592 $ 442 With an allowance recorded Real estate: Residential 1-4 family $ 11,327 $ 11,347 $ 951 $ 8,822 $ 419 Commercial real estate 4,541 4,541 1,845 3,415 478 Home equity line of credit 416 420 46 132 6 Residential land 5,506 5,584 1,057 6,415 484 Commercial construction — — — — — Residential construction — — — — — Commercial 4,873 5,211 760 12,089 438 Consumer 16 16 6 9 — $ 26,679 $ 27,119 $ 4,665 $ 30,882 $ 1,825 Total Real estate: Residential 1-4 family $ 22,981 $ 24,334 $ 951 $ 17,878 $ 646 Commercial real estate 5,112 5,167 1,845 3,609 478 Home equity line of credit 779 1,026 46 534 11 Residential land 7,850 8,784 1,057 9,143 656 Commercial construction — — — — — Residential construction — — — — — Commercial 13,108 16,682 760 17,293 476 Consumer 16 16 6 17 — $ 49,846 $ 56,009 $ 4,665 $ 48,474 $ 2,267 * Since loan was classified as impaired. Troubled debt restructurings. A loan modification is deemed to be a troubled debt restructuring (TDR) when ASB grants a concession it would not otherwise consider were it not for the borrower’s financial difficulty. When a borrower experiencing financial difficulty fails to make a required payment on a loan or is in imminent default, ASB takes a number of steps to improve the collectability of the loan and maximize the likelihood of full repayment. At times, ASB may modify or restructure a loan to help a distressed borrower improve its financial position to eventually be able to fully repay the loan, provided the borrower has demonstrated both the willingness and the ability to fulfill the modified terms. TDR loans are considered an alternative to foreclosure or liquidation with the goal of minimizing losses to ASB and maximizing recovery. ASB may consider various types of concessions in granting a TDR including maturity date extensions, extended amortization of principal, temporary deferral of principal payments, and temporary interest rate reductions. ASB rarely grants principal forgiveness in its TDR modifications. Residential loan modifications generally involve interest rate reduction, extending the amortization period, or capitalizing certain delinquent amounts owed not to exceed the original loan balance. Land loans at origination are typically structured as a three -year term, interest-only monthly payment with a balloon payment due at maturity. Land loan TDR modifications typically involve extending the maturity date up to five years and converting the payments from interest-only to principal and interest monthly, at the same or higher interest rate. Commercial loan modifications generally involve extensions of maturity dates, extending the amortization period, and temporary deferral of principal payments. ASB generally does not reduce the interest rate on commercial loan TDR modifications. Occasionally, additional collateral and/or guaranties are obtained. All TDR loans are classified as impaired and are segregated and reviewed separately when assessing the adequacy of the allowance for loan losses based on the appropriate method of measuring impairment: (1) present value of expected future cash flows discounted at the loan’s effective original contractual rate, (2) fair value of collateral less cost to sell, or (3) observable market price. The financial impact of the calculated impairment amount 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 loan losses. Loan modifications that occurred and the impact on the allowance for loan losses were as follows: Three months ended June 30, 2015 Six months ended June 30, 2015 Number of contracts Outstanding recorded investment 1 Net increase in allowance Number of contracts Outstanding recorded investment 1 Net increase in allowance (dollars in thousands) Pre-modification Post-modification (as of period end) Pre-modification Post-modification (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 2 $ 318 $ 318 $ — 7 $ 1,195 $ 1,213 $ 47 Commercial real estate — — — — — — — — Home equity line of credit 13 690 690 105 22 1,119 1,119 160 Residential land — — — — — — — — Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial 3 161 161 78 4 253 253 78 Consumer — — — — — — — — 18 $ 1,169 $ 1,169 $ 183 33 $ 2,567 $ 2,585 $ 285 Three months ended June 30, 2014 Six months ended June 30, 2014 Number of contracts Outstanding recorded 1 Net increase in allowance Number of contracts Outstanding recorded 1 Net increase in allowance (dollars in thousands) Pre-modification Post-modification (as of period end) Pre-modification Post-modification (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 7 $ 2,194 $ 2,212 $ 207 12 $ 3,115 $ 3,147 $ 251 Commercial real estate — — — — — — — — Home equity line of credit — — — — — — — — Residential land 9 2,915 2,915 225 16 4,048 4,048 400 Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial 2 754 754 — 5 1,227 1,227 14 Consumer — — — — — — — — 18 $ 5,863 $ 5,881 $ 432 33 $ 8,390 $ 8,422 $ 665 1 The reported balances include loans that became TDR during the period, and were fully paid-off, charged-off, or sold prior to period end. Loans modified in TDRs that experienced a payment default of 90 days or more in for the indicated periods, and for which the payment of default occurred within one year of the modification, were as follows: Three months ended June 30, 2014 Six months ended June 30, 2014 (dollars in thousands) Number of contracts Recorded investment Number of contracts Recorded investment Troubled debt restructurings that subsequently defaulted Real estate loans: Residential 1-4 family 1 $ 390 1 $ 390 Commercial real estate — — — — Home equity line of credit — — — — Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial loans — — — — Consumer loans — — — — 1 $ 390 1 $ 390 There were no loans modified in TDRs that experienced a payment default of 90 days or more in the second quarter of 2015 and six months ended June 30, 2015, and for which the payment of default occurred within one year of the modification. If loans modified in a TDR subsequently default, 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 impaired or modified in TDRs totaled $0.1 million at June 30, 2015 . Mortgage servicing rights . 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 sales, but may retain the servicing rights of the loans sold. Mortgage servicing fees, a component of other income, net, were $0.9 million for the three months ended June 30, 2015 and 2014 and $1.8 million and $1.7 million for the six months ended June 30, 2015 and 2014, respectively. The carrying values of mortgage servicing assets were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net June 30, 2015 $ 29,182 $ (16,880 ) $ (37 ) $ 12,265 June 30, 2014 26,357 (14,578 ) (174 ) 11,605 Changes related to mortgage servicing rights were as follows: (in thousands) 2015 2014 Mortgage servicing rights Balance, January 1 $ 11,749 $ 11,938 Amount capitalized 2,001 753 Amortization (1,444 ) (872 ) Other-than-temporary impairment (4 ) (40 ) Carrying amount before valuation allowance, June 30 12,302 11,779 Valuation allowance for mortgage servicing rights Balance, January 1 209 251 Provision (recovery) (168 ) (37 ) Other-than-temporary impairment (4 ) (40 ) Balance, June 30 37 174 Net carrying value of mortgage servicing rights $ 12,265 $ 11,605 ASB capitalizes mortgage servicing rights acquired through either the purchase or origination of mortgage loans for sale with servicing rights retained. Changes in mortgage interest rates impact the value of ASB’s mortgage servicing rights. Rising interest rates typically result in slower prepayment speeds in the loans being serviced for others, which increases the value of mortgage servicing rights, whereas declining interest rates typically result in faster prepayment speeds which decrease the value of mortgage servicing rights and increase the amortization of the mortgage servicing rights. Key assumptions used in estimating the fair value of the bank’s mortgage servicing rights were as follows: (dollars in thousands) June 30, 2015 December 31, 2014 Unpaid principal balance $ 1,467,492 $ 1,391,030 Weighted average note rate 4.02 % 4.07 % Weighted average discount rate 9.5 % 9.6 % Weighted average prepayment speed 11.0 % 9.5 % The sensitivity analysis of fair value of MSR to hypothetical adverse changes of 25 and 50 basis points in certain key assumptions is as follows: (dollars in thousands) June 30, 2015 December 31, 2014 Prepayment rate: 25 basis points adverse rate change $ (814 ) $ (757 ) 50 basis points adverse rate change (1,537 ) (1,524 ) Discount rate: 25 basis points adverse rate change (132 ) (140 ) 50 basis points adverse rate change (262 ) (278 ) The effect of a variation in certain assumptions on fair value is calculated without changing any other assumptions. This analysis typically cannot be extrapolated because the relationship of a change in one key assumption to the changes in the fair value of MSRs typically is not linear. Other borrowings. Securities sold under agreements to repurchase are accounted for as financing transactions and the obligations to repurchase these securities are recorded as liabilities in the balance sheet. All such agreements are subject to master netting arrangements, which provide for conditional right of set-off in case of default by either party; however, ASB presents securities sold under agreements to repurchase on a gross basis in the balance sheet. The following tables present information about the securities sold under agreements to repurchase, including the related collateral received from or pledged to counterparties: (in millions) Gross amount of recognized liabilities Gross amount offset in the Balance Sheet Net amount of liabilities presented in the Balance Sheet Repurchase agreements June 30, 2015 $214 $— $214 December 31, 2014 191 — 191 Gross amount not offset in the Balance Sheet (in millions) Net amount of liabilities presented in the Balance Sheet Financial instruments Cash collateral pledged Net amount June 30, 2015 Financial institution $ 50 $ 50 $ — $ — Government entities 66 66 — — Commercial account holders 98 98 — — Total $ 214 $ 214 $ — $ — December 31, 2014 Financial institution $ 50 $ 50 $ — $ — Government entities 56 56 — — Commercial account holders 85 85 — — Total $ 191 $ 191 $ — $ — Derivative financial instruments. ASB enters into interest rate lock commitments (IRLCs) with borrowers, and forward commitments to sell loans or to-be-announced mortgage-backed securities to investors to hedge against the inherent interest rate and pricing risk associated with selling loans. ASB enters into IRLCs for residential mortgage loans, which commit ASB to lend funds to a potential borrower at a specific interest rate and within a specified period of time. IRLCs that relate to the origination of mortgage loans that will be held for sale are considered derivative financial instruments under applicable accounting guidance. Outstanding IRLCs expose ASB to the risk that the price of the mortgage loans underlying the commitments may decline due to increases in mortgage interest rates from inception of the rate lock to the funding of the loan. The IRLCs are free-standing derivatives which are carried at fair value with changes recorded in mortgage banking income. ASB enters into forward commitments to hedge the interest rate risk for rate locked mortgage applications in process and closed mortgage loans held for sale. These commitments are primarily forward sales of to-be-announced mortgage backed securities. Generally, when mortgage loans are closed, the forward commitment is liquidated and replaced with a mandatory delivery forward sale of the mortgage to a secondary market investor. In some cases, a best-efforts forward sale agreement is utilized as the forward commitment. These commitments are free-standing derivatives which are carried at fair value with changes recorded in mortgage banking income. Changes in the fair value of IRLCs and forward commitments subsequent to inception are based on changes in the fair value of the underlying loan resulting from the fulfillment of the commitment and changes in the probability that the loan will fund within the terms of the commitment, which is affected primarily by changes in interest rates and the passage of time. The notional amount and fair value of ASB’s derivative financial instruments were as follows: June 30, 2015 December 31, 2014 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 33,178 $ 446 $ 29,330 $ 390 Forward commitments 28,551 (7 ) 32,833 (106 ) ASB’s derivative financial instruments, their fair values, and balance sheet location were as follows: Derivative Financial Instruments Not Designated as Hedging Instruments 1 June 30, 2015 December 31, 2014 (in thousands) Asset derivatives Liability derivatives Asset derivatives Liability Interest rate lock commitments $ 448 $ 2 $ 393 $ 3 Forward commitments 6 13 5 111 $ 454 $ 15 $ 398 $ 114 1 Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the balance sheets. The following table presents ASB’s derivative financial instruments and the amount and location of the net gains or losses recognized in the statements of income: Derivative Financial Instruments Not Designated as Hedging Instruments Location of net gains (losses) recognized in the Statement of Income Three months ended Six months (in thousands) 2015 2014 2015 2014 Interest rate lock commitments Mortgage banking income $ (389 ) $ (194 ) $ 56 $ (464 ) Forward commitments Mortgage banking income 258 (33 ) 99 (139 ) $ (131 ) $ (227 ) $ 155 $ (603 ) Low-Income Housing Tax Credit (LIHTC). ASB’s unfunded commitments to fund its LIHTC investment partnerships were $8.6 million and $14.8 million at June 30, 2015 and December 31, 2014 , respectively. These unfunded commitments were unconditional and legally binding and are recorded in other liabilities with a corresponding increase in other assets. Cash contributions and payments made on commitments to LIHTC investment partnerships are classified as operati

Retirement benefits

Retirement benefits	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Retirement benefits	Retirement benefits Defined benefit pension and other postretirement benefit plans information. For the first six months of 2015 , the Company contributed $44 million ($ 43 million by the Utilities) to its pension and other postretirement benefit plans, compared to $30 million ( $29 million by the Utilities) in the first six months of 2014 . The Company’s current estimate of contributions to its pension and other postretirement benefit plans in 2015 is $88 million ( $86 million by the Utilities, $ 2 million by HEI and nil by ASB), compared to $60 million ($ 59 million by the Utilities, $1 million by HEI and nil by ASB) in 2014 . In addition, the Company expects to pay directly $2 million ( $1 million by the Utilities) of benefits in 2015 , compared to $2 million ($ 1 million by the Utilities) paid in 2014 . The Pension Protection Act of 2006 (Pension Protection Act) signed into law on August 17, 2006, amended the Employee Retirement Income Security Act of 1974 (ERISA). Among other things, the Pension Protection Act changed the funding rules for qualified pension plans. On Aug ust 8, 2014, President Obama signed the latest change to the Pension Protection Act, the Highway and Transportation Funding Act of 2014 (HATFA). HATFA resulted in an increase of the Adjusted Funding Target Attainment Percentage (AFTAP) for benefit distribution purposes and eased funding requirements effective with the 2014 plan year (a plan sponsor could have elected to apply the provisions of HATFA to 2013, but the Company did not so elect). As a result, the minimum funding requirements for the HEI Retirement Plan under ERISA are less than the net periodic cost for 2014 and 2015. To satisfy the requirements of the Utilities pension and OPEB tracking mechanisms, the Utilities contributed the net periodic cost in 2014 and expect to contribute the net periodic cost in 2015. The Pension Protection Act provides that if a pension plan’s funded status falls below certain levels, more conservative assumptions must be used to value obligations under the pension plan. The HEI Retirement Plan met the threshold requirements in each of 2013 and 2014 so that the more conservative assumptions did not apply for either 2014 or 2015. Other factors could cause changes to the required contribution levels. The components of net periodic benefit cost for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended June 30 Six months ended June 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2015 2014 2015 2014 2015 2014 2015 2014 HEI consolidated Service cost $ 16,640 $ 12,525 $ 1,094 $ 866 $ 33,106 $ 24,652 $ 1,963 $ 1,749 Interest cost 19,363 18,113 2,268 2,117 38,502 36,114 4,503 4,277 Expected return on plan assets (22,149 ) (20,334 ) (2,934 ) (2,748 ) (44,300 ) (40,681 ) (5,841 ) (5,456 ) Amortization of net prior service loss (gain) 1 22 (449 ) (449 ) 2 44 (897 ) (897 ) Amortization of net actuarial loss (gain) 9,455 5,138 466 (3 ) 18,417 10,176 896 (6 ) Net periodic benefit cost (credit) 23,310 15,464 445 (217 ) 45,727 30,305 624 (333 ) Impact of PUC D&Os (10,464 ) (3,651 ) (218 ) 543 (19,977 ) (6,662 ) (120 ) 988 Net periodic benefit cost (adjusted for impact of PUC D&Os) $ 12,846 $ 11,813 $ 227 $ 326 $ 25,750 $ 23,643 $ 504 $ 655 Hawaiian Electric consolidated Service cost $ 16,148 $ 12,101 $ 1,080 $ 840 $ 32,131 $ 23,798 $ 1,935 $ 1,696 Interest cost 17,749 16,553 2,191 2,038 35,265 32,989 4,350 4,117 Expected return on plan assets (20,639 ) (18,158 ) (2,889 ) (2,707 ) (41,271 ) (36,329 ) (5,748 ) (5,370 ) Amortization of net prior service loss (gain) 10 16 (451 ) (451 ) 20 31 (902 ) (902 ) Amortization of net actuarial loss 8,592 4,669 455 — 16,686 9,229 877 — Net periodic benefit cost (credit) 21,860 15,181 386 (280 ) 42,831 29,718 512 (459 ) Impact of PUC D&Os (10,464 ) (3,651 ) (218 ) 543 (19,977 ) (6,662 ) (120 ) 988 Net periodic benefit cost (adjusted for impact of PUC D&Os) $ 11,396 $ 11,530 $ 168 $ 263 $ 22,854 $ 23,056 $ 392 $ 529 HEI consolidated recorded retirement benefits expense of $18 million ($ 15 million by the Utilities) and $17 million ( $16 million by the Utilities) in the first six months of 2015 and 2014 , respectively, 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, these retirement benefit costs that are over/under amounts allowed in rates are charged/credited to a regulatory asset/liability. The regulatory asset/liability for each utility will be amortized over 5 years beginning with the issuance of the PUC’s D&O in the respective utility’s next rate case. Defined contribution plans information. For the first six months of 2015 and 2014 , the Company’s expense for its defined contribution pension plans under the Hawaiian Electric Industries Retirement Savings Plan (HEIRSP) and the ASB 401(k) Plan was $2.7 million and $2.2 million , respectively, and cash contributions were $3.4 million and $3.5 million , respectively. For the first six months of 2015 and 2014 , the Utilities’ expense for its defined contribution pension plan under the HEIRSP was $ 0.7 million and $0.4 million , respectively, and cash contributions were $ 0.7 million and $0.4 million , respectively.

Share-based compensation

Share-based compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [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 (SARs), 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 was added to the shares available for issuance under these programs. As of June 30, 2015 , approximately 3.5 million shares remained available for future issuance under the terms of the EIP (assuming recycling of shares withheld to satisfy minimum statutory tax liabilities relating to EIP awards), including an estimated 0.8 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 June 30, 2015 , there were 141,044 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 June 30 Six months ended June 30 (in millions) 2015 2014 2015 2014 HEI consolidated Share-based compensation expense 1 $ 2.0 $ 2.8 $ 3.8 $ 5.2 Income tax benefit 0.7 1.1 1.4 1.9 Hawaiian Electric consolidated Share-based compensation expense 1 0.7 0.9 1.2 1.6 Income tax benefit 0.3 0.3 0.5 0.6 1 $0.05 million and $0.03 million of this share-based compensation expense was capitalized in the second quarter of 2015 and 2014, respectively. $0.09 million and $0.07 million of this share-based compensation expense was capitalized in the six months ended June 30, 2015 and 2014 , respectively. Stock awards. HEI granted HEI common stock to nonemployee directors of HEI, Hawaiian Electric and ASB under the 2011 Director Plan as follows: Six months ended June 30 ($ in millions) 2015 2014 Shares granted 28,246 33,170 Fair value $ 0.8 $ 0.8 Income tax benefit 0.3 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. Stock appreciation rights. As of December 31, 2014 , the shares underlying SARs outstanding totaled 80,000 , with a weighted-average exercise price of $26.18 . As of June 30, 2015 , there were no remaining SARs outstanding. SARs activity and statistics were as follows: Three months ended June 30 Six months ended June 30 (dollars in thousands, except prices) 2015 2014 2015 2014 Shares underlying SARS exercised — — 80,000 — Weighted-average price of shares exercised $ — $ — $ 26.18 $ — Intrinsic value of shares exercised 1 — — 502 — Tax benefit realized for the deduction of exercises — — 82 — 1 Intrinsic value is the amount by which the fair market value of the underlying stock and the related dividend equivalent rights exceeds the exercise price of the right. Restricted stock units. Information about HEI’s grants of restricted stock units was as follows: Three months ended June 30 Six months ended June 30 2015 2014 2015 2014 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 261,691 $ 28.33 332,158 $ 25.04 261,235 $ 25.77 288,151 $ 25.17 Granted 788 31.25 — — 85,082 33.72 115,036 25.19 Vested (832 ) 26.60 (67,832 ) 22.31 (80,051 ) 25.77 (138,861 ) 24.09 Forfeited (9,345 ) 28.36 — — (13,964 ) 27.52 — — Outstanding, end of period 252,302 $ 28.35 264,326 $ 25.74 252,302 $ 28.35 264,326 $ 25.74 Total weighted-average grant-date fair value of shares granted ($ millions) $ — $ — $ 2.9 $ 2.9 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. As of June 30, 2015 , there was $5.6 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 2.8 years . For the first six months of 2015 and 2014 , total restricted stock units that vested and related dividends had a fair value of $3.0 million and $4.0 million , respectively, and the related tax benefits were $0.8 million and $1.3 million , respectively. Long-term incentive plan payable in stock. The 2013-2015 long-term incentive plan (LTIP) and 2014-2016 LTIP provide for performance awards under the original EIP of shares of HEI common stock based on the satisfaction of performance goals considered to be a market condition and service conditions. 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. The potential payout varies from 0% to 200% of the number of target shares depending on achievement of the goals. The LTIP performance goals for the LTIP periods include awards with a market goal based on total return to shareholders (TRS) of HEI stock as a percentile to the Edison Electric Institute Index over the applicable three -year period. In addition, the 2013-2015 LTIP and 2014-2016 LTIP have performance goals related to levels of HEI consolidated net income, HEI consolidated return on average common equity (ROACE), Hawaiian Electric consolidated net income, Hawaiian Electric consolidated ROACE and ASB net income — all based on the applicable three -year averages, and ASB return on assets relative to performance peers. The 2015-2017 LTIP provides for performance awards payable in cash, and thus, is not included in the tables below. LTIP linked to TRS . Information about HEI’s LTIP grants linked to TRS was as follows: Three months ended June 30 Six months ended June 30 2015 2014 2015 2014 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 168,777 $ 27.63 258,243 $ 28.46 257,956 $ 28.45 232,127 $ 32.88 Granted (target level) — — 731 22.95 — — 97,524 22.95 Vested (issued or unissued and cancelled) — — — — (75,915 ) 30.71 (70,189 ) 35.46 Forfeited (5,354 ) 27.42 (1,018 ) 26.50 (18,618 ) 26.41 (1,506 ) 28.32 Outstanding, end of period 163,423 $ 27.63 257,956 $ 28.45 163,423 $ 27.63 257,956 $ 28.45 Total weighted-average grant-date fair value of shares granted ($ millions) $ — $ — $ — $ 2.2 (1) Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model. The grant date fair values of the shares were determined using a Monte Carlo simulation model utilizing actual information for the common shares of HEI and its peers for the period from the beginning of the performance period to the grant date and estimated future stock volatility and dividends of HEI and its peers over the remaining three-year performance period. The expected stock volatility assumptions for HEI and its peer group were based on the three -year historic stock volatility, and the annual dividend yield assumptions were based on dividend yields calculated on the basis of daily stock prices over the same three-year historical period. The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TRS and the resulting fair value of LTIP awards granted: 2014 Risk-free interest rate 0.66 % Expected life in years 3 Expected volatility 17.8 % Range of expected volatility for Peer Group 12.4% to 23.3% Grant date fair value (per share) $ 22.95 For the six months ended June 30, 2015 and 2014 , there were no vested LTIP awards linked to TRS. For the six months ended June 30, 2015 , all of the shares vested (which were granted at target level based on the satisfaction of TRS performance) for the 2012-2014 LTIP lapsed. As of June 30, 2015 , there was $1.2 million of total unrecognized compensation cost related to the nonvested performance awards payable in shares linked to TRS. The cost is expected to be recognized over a weighted-average period of 1.0 year . 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 June 30 Six months ended June 30 2015 2014 2015 2014 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 230,219 $ 26.00 360,070 $ 26.01 364,731 $ 26.01 296,843 $ 26.14 Granted (target level) — — 730 23.34 — — 129,603 25.18 Vested (issued) — — — — (121,249 ) 26.05 (65,089 ) 24.95 Forfeited (10,061 ) 26.02 (1,018 ) 25.81 (23,324 ) 25.85 (1,575 ) 26.07 Outstanding, end of period 220,158 $ 26.00 359,782 $ 26.01 220,158 $ 26.00 359,782 $ 26.01 Total weighted-average grant-date fair value of shares granted (at target performance levels) ($ millions) $ — $ — $ — $ 3.3 (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 six months ended June 30, 2015 and 2014 , total vested LTIP awards linked to other performance conditions and related dividends had a fair value of $4.7 million and $1.9 million and the related tax benefits were $1.8 million and $0.8 million , respectively. As of June 30, 2015 , there was $1.8 million of total unrecognized compensation cost related to the nonvested shares linked to performance conditions other than TRS. The cost is expected to be recognized over a weighted-average period of 1.0 year .

Earnings per share and sharehol

Earnings per share and shareholders' equity	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Earnings per share and shareholders' equity	Earnings per share and shareholders’ equity Earnings per share. Under the two-class method of computing earnings per share (EPS), EPS was comprised as follows for both participating securities (i.e., restricted shares that became fully vested in the fourth quarter of 2014) and unrestricted common stock: Three months ended June 30, 2014 Six months ended June 30, 2014 Basic Diluted Basic Diluted Distributed earnings $ 0.31 $ 0.31 $ 0.62 $ 0.62 Undistributed earnings 0.10 0.10 0.24 0.23 $ 0.41 $ 0.41 $ 0.86 $ 0.85 As of June 30, 2015 , there were no remaining share awards that could have been potentially antidilutive. As of June 30, 2014 , the antidilutive effect of SARs on 102,000 shares of HEI common stock (for which the exercise price was greater than the closing market price of HEI’s common stock), was not included in the computation of diluted EPS. Shareholders’ equity. Equity forward transaction . On March 19, 2013, HEI entered into an equity forward transaction in connection with a public offering on that date of 6.1 million shares of HEI common stock at $26.75 per share. On March 19, 2013, HEI common stock closed at $27.01 per share. On March 20, 2013, the underwriters exercised their over-allotment option in full and HEI entered into an equity forward transaction in connection with the resulting additional 0.9 million shares of HEI common stock. The use of an equity forward transaction substantially eliminates future equity market price risk by fixing a common equity offering sales price under the then existing market conditions, while mitigating immediate share dilution resulting from the offering by postponing the actual issuance of common stock until funds are needed in accordance with the Company’s capital investment plans. Pursuant to the terms of these transactions, a forward counterparty borrowed 7 million shares of HEI’s common stock from third parties and sold them to a group of underwriters for $26.75 per share, less an underwriting discount equal to $1.00312 per share. Under the terms of the equity forward transactions, HEI was required to issue and deliver shares of HEI common stock to the forward counterparty at the then applicable forward sale price. The forward sale price was initially determined to be $25.74688 per share at the time the equity forward transactions were entered into, and the amount of cash to be received by HEI upon physical settlement of the equity forward was subject to certain adjustments in accordance with the terms of the equity forward transactions. The equity forward transactions had no initial fair value since they were entered into at the then market price of the common stock. HEI concluded that the equity forward transactions were equity instruments based on the accounting guidance in Accounting Standards Codification (ASC) Topic 480, “Distinguishing Liabilities from Equity,” and ASC Topic 815, “Derivatives and Hedging,” and that they qualified for an exception from derivative accounting under ASC Topic 815 because the forward sale transactions were indexed to its own stock. On December 19, 2013 and July 14, 2014, HEI settled 1.3 million and 1.0 million shares under the equity forward for proceeds of $32.1 million (net of the underwriting discount of $1.3 million ) and $23.9 million (net of underwriting discount of $ 1.0 million ), respectively, which funds were ultimately used to purchase Hawaiian Electric shares . On March 20, 2015, HEI settled the remaining 4.7 million shares under the equity forward for proceeds of $104.5 million (net of the underwriting discount of $4.7 million ), which funds were used for the reduction of debt and for general corporate purposes. The proceeds were recorded in equity at the time of settlement. Prior to their settlement, the shares remaining under the equity forward transactions were reflected in HEI’s diluted EPS calculations using the treasury stock method. 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 losses on derivatives Retirement benefit plans AOCI AOCI -retirement benefit plans Balance, December 31, 2014 $ 462 $ (289 ) $ (27,551 ) $ (27,378 ) $ 45 Current period other comprehensive income (loss) (243 ) 118 1,056 931 7 Balance, June 30, 2015 $ 219 $ (171 ) $ (26,495 ) $ (26,447 ) $ 52 Balance, December 31, 2013 $ (3,663 ) $ (525 ) $ (12,562 ) $ (16,750 ) $ 608 Current period other comprehensive income 3,348 118 601 4,067 22 Balance, June 30, 2014 $ (315 ) $ (407 ) $ (11,961 ) $ (12,683 ) $ 630 Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Three months ended Six months (in thousands) 2015 2014 2015 2014 Affected line item in the Statement of Income HEI consolidated Net realized gains on securities $ — $ — $ — $ (1,715 ) Revenues-bank (net gains on sales of securities) Derivatives qualified as cash flow hedges Interest rate contracts (settled in 2011) 59 59 118 118 Interest expense Retirement benefit plan items Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 5,780 2,873 11,239 5,686 See Note 6 for additional details Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets (5,272 ) (2,575 ) (10,183 ) (5,085 ) See Note 6 for additional details Total reclassifications $ 567 $ 357 $ 1,174 $ (996 ) Hawaiian Electric consolidated Retirement benefit plan items Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ 5,257 $ 2,588 $ 10,190 $ 5,107 See Note 6 for additional details Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets (5,272 ) (2,575 ) (10,183 ) (5,085 ) See Note 6 for additional details Total reclassifications $ (15 ) $ 13 $ 7 $ 22

Fair value measurements

Fair value measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements Fair value estimates are estimates of the price that would be received to sell an asset, or paid upon the transfer of a liability, in an orderly transaction between market participants at the measurement date. The fair value estimates are generally determined based on assumptions that market participants would use in pricing the asset or liability and are based on market data obtained from independent sources. However, in certain cases, the Company and the Utilities use their own assumptions about market participant assumptions based on the best information available in the circumstances. These valuations are estimates at a specific point in time, based on relevant market information, information about the financial instrument and judgments regarding future expected loss experience, economic conditions, risk characteristics of various financial instruments and other factors. These estimates do not reflect any premium or discount that could result if the Company or the Utilities were to sell its entire holdings of a particular financial instrument at one time. Because no active trading market exists for a portion of the Company’s and the Utilities’ financial instruments, fair value estimates cannot be determined with precision. Changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the estimates. In addition, the tax ramifications related to the realization of the unrealized gains and losses could have a significant effect on fair value estimates, but have not been considered in making such estimates. The Company and the Utilities group their financial assets measured at fair value in three levels outlined as follows: Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and is used to measure fair value whenever available. Level 2: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; inputs to the valuation methodology include quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs to the valuation methodology that are derived principally from or can be corroborated by observable market data by correlation or other means. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using discounted cash flow methodologies, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Classification in the hierarchy is based upon the lowest level input that is significant to the fair value measurement of the asset or liability. For instruments classified in Level 1 and 2 where inputs are primarily based upon observable market data, there is less judgment applied in arriving at the fair value. For instruments classified in Level 3, management judgment is more significant due to the lack of observable market data. Fair value is also used on a nonrecurring basis to evaluate certain assets for impairment or for disclosure purposes. Examples of nonrecurring uses of fair value include mortgage servicing rights accounted for by the amortization method, loan impairments for certain loans, goodwill and AROs. The fair value of Hawaiian Electric’s ARO (Level 3) was determined by discounting the expected future cash flows using market-observable risk-free rates as adjusted by Hawaiian Electric’s credit spread (also see Note 4 ). Fair value measurement and disclosure valuation methodology. 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 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 the Company 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 the Company’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 and not by ASB. Loans held for sale . Residential mortgage loans carried at the lower of cost or market are valued using market observable pricing inputs, which are derived from third party loan sales and securitizations 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. Noting the valuation is derived from model-based techniques, ASB includes loans held for investment within Level 3 of the valuation hierarchy. Impaired loans . At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Fair value is determined primarily by using an income, cost, or market approach and is normally provided through appraisals. Impaired loans carried at fair value generally receive specific allocations within the allowance for loan losses. For collateral-dependent loans, fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Generally, impaired loans are evaluated quarterly for additional impairment and adjusted accordingly. Other real estate owned . Foreclosed assets are carried at fair value (less estimated costs to sell) and is 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 . Mortgage servicing rights (MSR) 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. Mortgage servicing rights are evaluated for impairment at each reporting date. ASB's MSR is 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 "Other income, net" 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 MSR 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 their own experience and expertise to arrive at a value. ASB uses the third-party value only to assess the reasonableness of its own estimate. 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 deposits of similar remaining maturities. 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. Long-term debt . Fair value 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 remaining maturities. 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. The following table presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments. For stock in Federal Home Loan Bank, the carrying amount is a reasonable estimate of fair value. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings and money market deposits, the carrying amount is a reasonable estimate of fair value as these liabilities have no stated maturity. Estimated fair value Carrying amount Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) (Level 1) (Level 2) (Level 3) Total June 30, 2015 Financial assets Money market funds $ 10 $ — $ 10 $ — $ 10 Available-for-sale investment securities 693,520 — 693,520 — 693,520 Stock in Federal Home Loan Bank 10,678 — 10,678 — 10,678 Loans receivable, net 4,416,398 — — 4,578,184 4,578,184 Derivative assets 454 2 452 — 454 Financial liabilities Deposit liabilities 4,803,271 — 4,802,813 — 4,802,813 Short-term borrowings—other than bank 124,543 — 124,543 — 124,543 The Utilities’ short-term borrowings (included in amount above) 88,993 — 88,993 — 88,993 Other bank borrowings 314,157 — 321,317 — 321,317 Long-term debt, net—other than bank 1,506,546 — 1,602,894 — 1,602,894 The Utilities’ long-term debt, net (included in amount above) 1,206,546 — 1,295,917 — 1,295,917 Derivative liabilities 15 — 15 — 15 December 31, 2014 Financial assets Money market funds $ 10 $ — $ 10 $ — $ 10 Available-for-sale investment securities 550,394 — 550,394 — 550,394 Stock in Federal Home Loan Bank 69,302 — 69,302 — 69,302 Loans receivable, net 4,397,457 — — 4,578,822 4,578,822 Derivative assets 398 — 398 — 398 Financial liabilities Deposit liabilities 4,623,415 — 4,623,773 — 4,623,773 Short-term borrowings—other than bank 118,972 — 118,972 — 118,972 Other bank borrowings 290,656 — 298,837 — 298,837 Long-term debt, net—other than bank 1,506,546 — 1,622,736 — 1,622,736 The Utilities’ long-term debt, net (included in amount above) 1,206,546 — 1,313,893 — 1,313,893 Derivative liabilities 114 71 43 — 114 As of June 30, 2015 and December 31, 2014 , loans serviced by ASB for others had notional amounts of $1.5 billion and $1.4 billion , and the estimated fair value of the mortgage servicing rights for such loans was $15.2 million and $14.5 million , respectively. Fair value measurements on a recurring basis. Assets and liabilities measured at fair value on a recurring basis were as follows: June 30, 2015 December 31, 2014 Fair value measurements using Fair value measurements using (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Money market funds (“other” segment) $ — $ 10 $ — $ — $ 10 $ — Available-for-sale investment securities (bank segment) Mortgage-related securities-FNMA, FHLMC and GNMA $ — $ 525,061 $ — $ — $ 430,834 $ — U.S. Treasury and federal agency obligations — 168,459 — — 119,560 — $ — $ 693,520 $ — $ — $ 550,394 $ — Derivative assets 1 Interest rate lock commitments $ — $ 448 $ — $ — $ 393 $ — Forward commitments 2 4 — — 5 — $ 2 $ 452 $ — $ — $ 398 $ — Derivative liabilities 1 Interest rate lock commitments $ — $ 2 $ — $ — $ 3 $ — Forward commitments — 13 — 71 40 — $ — $ 15 $ — $ 71 $ 43 $ — 1 Derivatives are carried at fair value with changes in value reflected in the balance sheet in other assets or other liabilities and included in mortgage banking income. There were no transfers of financial assets and liabilities between Level 1 and Level 2 of the fair value hierarchy during the quarter ended June 30, 2015. 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. Assets measured at fair value on a nonrecurring basis were as follows: Fair value measurements (in thousands) Balance Level 1 Level 2 Level 3 June 30, 2015 Loans $ 658 $ — $ — $ 658 December 31, 2014 Loans 2,445 — — 2,445 Real estate acquired in settlement of loans 288 — — 288 At June 30, 2015 and 2014 , there were no adjustments to fair value for ASB’s loans held for sale. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis: Significant unobservable input value 1 ($ in thousands) Fair value Valuation technique Significant unobservable input Range Weighted Average June 30, 2015 Residential loans $ 658 Fair value of property or collateral Appraised value less 7% selling costs 31-91% 66% Total loans $ 658 December 31, 2014 Residential loans $ 2,297 Fair value of property or collateral Appraised value less 7% selling costs 39-99% 83% Home equity lines of credit 3 Fair value of property or collateral Appraised value less 7% selling costs 7% Commercial loans 145 Fair value of property or collateral Fair value of business assets 91% Total loans $ 2,445 Real estate acquired in settlement of loans $ 288 Fair value of property or collateral Appraised value less 7% selling cost 100% 100% 1 Represent percent of outstanding principal balance. Significant increases (decreases) in any of those inputs in isolation would result in significantly higher (lower) fair value measurements.

Cash flows

Cash flows	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Cash flows	Cash flows Six months ended June 30 2015 2014 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates $ 41 $ 44 Income taxes paid 35 22 Income taxes refunded 55 24 Hawaiian Electric consolidated Interest paid to non-affiliates 30 31 Income taxes paid 9 6 Income taxes refunded 12 8 Supplemental disclosures of noncash activities HEI consolidated Increases in common stock related to director and officer compensatory plans (financing) — 2 Real estate acquired in settlement of loans (investing) — 2 Real estate transferred from property, plant and equipment to other assets held-for-sale (investing) 5 — Obligations to fund low income housing investments (operating) — 8 HEI consolidated and Hawaiian Electric consolidated Additions to electric utility property, plant and equipment - unpaid invoices and other (investing) 53 28

Recent accounting pronouncement

Recent accounting pronouncements	6 Months Ended
	Jun. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent accounting pronouncements	Recent accounting pronouncements Investments in Qualified Affordable Housing Projects. In January 2014, the FASB issued ASU No. 2014-01, “Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects,” which permits entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met and investment amortization, net of tax credits, may be recognized in the income statement as a component of income taxes attributable to continuing operations. The amendments also require additional disclosures. The Company retrospectively adopted ASU No. 2014-01 in the first quarter of 2015. For prior periods, pursuant to ASU No. 2014-01, (a) amortization expense related to ASB’s qualifying investments in low income housing tax credits was reclassified from noninterest expense to income taxes; and (b) additional amortization, net of associated tax benefits was recognized in income taxes as a result of the adoption. The cumulative effect to retained earnings as of January 1, 2014 of adopting this guidance was a reduction of $0.7 million . Amounts in the financial statements as of December 31, 2014 and 2013 and for the three and six months ended June 30, 2014, have been updated to reflect the retrospective application. For the quarter ended June 30, 2015 , ASB recognized $1.2 million of amortization, $1.2 million of tax credits and $0.5 million of other tax benefits associated with the low income housing tax credits within income taxes. For the six months ended June 30, 2015 , ASB recognized $2.5 million of amortization, $2.6 million of tax credits and $1.1 million of other tax benefits associated with the low income housing tax credits within income taxes. The table below summarizes the impact to prior period financial statements of the adoption of ASU No. 2014-01: HEI Consolidated ASB (in thousands) As previously filed Adjustment from adoption of ASU No. 2014-01 As currently reported As previously filed Adjustment from adoption of ASU No. 2014-01 As currently reported HEI Consolidated Income Statement/ASB Statement of Income Data Three months ended June 30, 2014 Bank expenses/Noninterest expense $ 43,568 $ (908 ) $ 42,660 $ 39,890 $ (908 ) $ 38,982 Bank operating income/Income before income taxes $ 17,048 $ 908 $ 17,956 $ 17,048 $ 908 $ 17,956 Income taxes $ 22,269 $ 1,048 $ 23,317 $ 5,372 $ 1,048 $ 6,420 Net income for common stock/Net income $ 41,421 $ (140 ) $ 41,281 $ 11,676 $ (140 ) $ 11,536 Six months ended June 30, 2014 Bank expenses/Noninterest expense $ 85,564 $ (1,816 ) $ 83,748 $ 78,260 $ (1,816 ) $ 76,444 Bank operating income/Income before income taxes $ 38,671 $ 1,816 $ 40,487 $ 38,672 $ 1,816 $ 40,488 Income taxes $ 46,942 $ 2,096 $ 49,038 $ 12,457 $ 2,096 $ 14,553 Net income for common stock/Net income $ 87,348 $ (280 ) $ 87,068 $ 26,215 $ (280 ) $ 25,935 HEI Consolidated Balance Sheet/ASB Balance Sheet Data December 31, 2014 Other assets $ 541,542 $ 981 $ 542,523 $ 304,435 $ 981 $ 305,416 Total assets and Total liabilities and shareholders’ equity $ 11,184,161 $ 981 $ 11,185,142 $ 5,565,241 $ 981 $ 5,566,222 Deferred income taxes/Other liabilities $ 631,734 $ 1,836 $ 633,570 $ 116,527 $ 1,836 $ 118,363 Total liabilities $ 9,358,440 $ 1,836 $ 9,360,276 $ 5,030,598 $ 1,836 $ 5,032,434 Retained earnings $ 297,509 $ (855 ) $ 296,654 $ 212,789 $ (855 ) $ 211,934 Total shareholders’ equity $ 1,791,428 $ (855 ) $ 1,790,573 $ 534,643 $ (855 ) $ 533,788 HEI Consolidated Statement of Changes in Stockholders’ Equity December 31, 2013 Retained earnings $ 255,694 $ (664 ) $ 255,030 Total shareholders’ equity $ 1,727,070 $ (664 ) $ 1,726,406 Reclassification of loans upon foreclosure . In January 2014, the FASB issued ASU No. 2014-04, “Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” which clarifies when an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer loan. A creditor is considered to have received physical possession of residential real estate property collateralizing a consumer loan upon either: (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure; or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through a deed in lieu of foreclosure or through a similar legal agreement. The amendment also requires additional disclosures. The Company adopted ASU No. 2014-04 in the first quarter of 2015 and the adoption did not have a material impact on the Company’s results of operations, financial condition or liquidity. Revenues from contracts. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers: (Topic 606).” The core principle of the guidance in ASU No. 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (1) identify the contract/s with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when, or as, the entity satisfies a performance obligation. The Company plans to adopt ASU No. 2014-09 in the first quarter of 2018, but has not determined the method of adoption (full or modified retrospective application) nor the impact of adoption on its results of operations, financial condition or liquidity. Repurchase agreements. In June 2014, the FASB issued ASU No. 2014-11, “Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosure, ” which changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. It also requires additional disclosures about repurchase agreements and other similar transactions. The ASU requires a new disclosure for transactions economically similar to repurchase agreements in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. The ASU also requires expanded disclosures about the nature of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The Company adopted ASU No. 2014-11 in the first quarter of 2015 and the adoption did not have a material impact on the Company’s results of operations, financial condition or liquidity. Debt issuance costs. In April 2015, the FASB issued ASU No. 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs,” which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The Company plans to retrospectively adopt ASU No. 2015-03 in the first quarter 2016 and does not expect the adoption to have a material impact on the Company’s results of operations, financial condition or liquidity.

Credit agreements and long-term

Credit agreements and long-term debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Credit agreements and long-term debt	Credit agreements and long-term debt Credit agreements. HEI . On April 2, 2014, HEI and a syndicate of nine financial institutions entered into an amended and restated revolving non-collateralized credit agreement (HEI Facility). The HEI Facility increased HEI’s line of credit to $150 million from $125 million , extended the term of the facility to April 2, 2019, and provided improved pricing compared to HEI’s prior facility. Under the HEI Facility, draws would generally bear interest, based on HEI’s current long-term credit ratings, at the “Adjusted LIBO Rate,” as defined in the agreement, plus 137.5 basis points and annual fees on undrawn commitments of 20 basis points. The HEI Facility contains updated provisions for pricing adjustments in the event of a long-term ratings change based on the HEI Facility’s ratings-based pricing grid. Certain modifications were made to incorporate some updated terms and conditions customary for facilities of this type. In addition, the HEI Consolidated Net Worth covenant, as defined in the original facility, was removed from the HEI Facility, leaving only one financial covenant (relating to HEI’s ratio of funded debt to total capitalization, each on a non-consolidated basis). Under the credit agreement, it is an event of default if HEI fails to maintain an unconsolidated “Capitalization Ratio” (funded debt) of 50% or less (actual ratio of 15% as of June 30, 2015 , as calculated under the agreement) or if HEI no longer owns Hawaiian Electric. The HEI Facility does not contain clauses that would affect access to the facility by reason of a ratings downgrade, nor does it have broad “material adverse change” clauses, but it continues to contain customary conditions which must be met in order to draw on it, including compliance with covenants (such as covenants preventing HEI’s subsidiaries from entering into agreements that restrict the ability of the subsidiaries to pay dividends to, or to repay borrowings from, HEI). The facility will be maintained to support the issuance of commercial paper, but also may be drawn to repay HEI’s short-term and long-term indebtedness, to make investments in or loans to subsidiaries and for HEI’s working capital and general corporate purposes. Hawaiian Electric . On April 2, 2014, Hawaiian Electric and a syndicate of nine financial institutions entered into an amended and restated revolving non-collateralized credit agreement (Hawaiian Electric Facility). The Hawaiian Electric Facility increased Hawaiian Electric’s line of credit to $200 million from $175 million . In January 2015, the PUC approved Hawaiian Electric’s request to extend the term of the credit facility to April 2, 2019. The Hawaiian Electric Facility provided improved pricing compared to its prior facility. Under the Hawaiian Electric Facility, draws would generally bear interest, based on Hawaiian Electric’s current long-term credit ratings, at the “Adjusted LIBO Rate,” as defined in the agreement, plus 125 basis points and annual fees on undrawn commitments of 17.5 basis points. The Hawaiian Electric Facility contains updated provisions for pricing adjustments in the event of a long-term ratings change based on the Hawaiian Electric Facility’s ratings-based pricing grid. Certain modifications were made to incorporate some updated terms and conditions customary for facilities of this type. The Hawaiian Electric Facility does not contain clauses that would affect access to the facility by reason of a ratings downgrade, nor does it have broad “material adverse change” clauses, but it continues to contain customary conditions which must be met in order to draw on it, including compliance with several covenants (such as covenants preventing its subsidiaries from entering into agreements that restrict the ability of the subsidiaries to pay dividends to, or to repay borrowings from, Hawaiian Electric, and restricting its ability as well as the ability of any of its subsidiaries to guarantee additional indebtedness of the subsidiaries if such additional debt would cause the subsidiary’s “Consolidated Subsidiary Funded Debt to Capitalization Ratio” to exceed 65% (ratio of 41% for Hawaii Electric Light and 42% for Maui Electric as of June 30, 2015 , as calculated under the agreement)). In addition to customary defaults, Hawaiian Electric’s failure to maintain its financial ratios, as defined in its credit agreement, or meet other requirements may result in an event of default. For example, under the credit agreement, it is an event of default if Hawaiian Electric fails to maintain a “Consolidated Capitalization Ratio” (equity) of at least 35% (ratio of 56% as of June 30, 2015 , as calculated under the credit agreement), or if Hawaiian Electric is no longer owned by HEI. Under the proposed Merger Agreement, Hawaiian Electric will become a wholly-owned subsidiary of NextEra. The terms of the Hawaiian Electric Facility are such that the proposed Merger would constitute a “Change in Control.” Hawaiian Electric has requested, and the financial institutions providing the Hawaiian Electric Facility have consented and agreed, that the proposed Merger shall not constitute a “Change in Control,” as defined in the credit agreement, provided that (i) the Merger is consummated and (ii) Hawaiian Electric becomes and remains a wholly-owned subsidiary of NextEra. The credit facility will be maintained to support the issuance of commercial paper, but also may be drawn to repay Hawaiian Electric’s short-term indebtedness, to make loans to subsidiaries and for Hawaiian Electric’s capital expenditures, working capital and general corporate purposes. Changes in long-term debt. May 2014 loan . On May 2, 2014, HEI entered into a loan agreement with The Bank of Tokyo-Mitsubishi UFJ, Ltd., Royal Bank of Canada and U.S. Bank, National Association, which agreement includes substantially the same financial covenant and customary conditions as the HEI credit agreement described above. On May 2, 2014, HEI drew a $125 million Eurodollar term loan for a term of two years and at a resetting interest rate ranging from 1.12% to 1.18% through June 30, 2015. The proceeds from the term loan were used to pay off $100 million of 6.51% medium term notes at maturity on May 5, 2014, pay down maturing commercial paper and for general corporate purposes.

Basis of presentation (Policies

Basis of presentation (Policies)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent accounting pronouncements	In January 2014, the FASB issued ASU No. 2014-04, “Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” which clarifies when an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer loan. A creditor is considered to have received physical possession of residential real estate property collateralizing a consumer loan upon either: (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure; or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through a deed in lieu of foreclosure or through a similar legal agreement. The amendment also requires additional disclosures. The Company adopted ASU No. 2014-04 in the first quarter of 2015 and the adoption did not have a material impact on the Company’s results of operations, financial condition or liquidity. Revenues from contracts. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers: (Topic 606).” The core principle of the guidance in ASU No. 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (1) identify the contract/s with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when, or as, the entity satisfies a performance obligation. The Company plans to adopt ASU No. 2014-09 in the first quarter of 2018, but has not determined the method of adoption (full or modified retrospective application) nor the impact of adoption on its results of operations, financial condition or liquidity. Repurchase agreements. In June 2014, the FASB issued ASU No. 2014-11, “Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosure, ” which changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. It also requires additional disclosures about repurchase agreements and other similar transactions. The ASU requires a new disclosure for transactions economically similar to repurchase agreements in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. The ASU also requires expanded disclosures about the nature of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The Company adopted ASU No. 2014-11 in the first quarter of 2015 and the adoption did not have a material impact on the Company’s results of operations, financial condition or liquidity. Debt issuance costs. In April 2015, the FASB issued ASU No. 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs,” which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The Company plans to retrospectively adopt ASU No. 2015-03 in the first quarter 2016 and does not expect the adoption to have a material impact on the Company’s results of operations, financial condition or liquidity. In January 2014, the FASB issued ASU No. 2014-01, “Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects,” which permits entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met and investment amortization, net of tax credits, may be recognized in the income statement as a component of income taxes attributable to continuing operations. The amendments also require additional disclosures. The Company retrospectively adopted ASU No. 2014-01 in the first quarter of 2015. For prior periods, pursuant to ASU No. 2014-01, (a) amortization expense related to ASB’s qualifying investments in low income housing tax credits was reclassified from noninterest expense to income taxes; and (b) additional amortization, net of associated tax benefits was recognized in income taxes as a result of the adoption.

Segment financial information (

Segment financial information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of segment financial information	(in thousands) Electric utility Bank Other Total Three months ended June 30, 2015 Revenues from external customers $ 558,156 $ 65,783 $ (27 ) $ 623,912 Intersegment revenues (eliminations) 7 — (7 ) — Revenues 558,163 65,783 (34 ) 623,912 Income (loss) before income taxes 52,451 19,726 (15,775 ) 56,402 Income taxes (benefit) 19,111 6,875 (5,075 ) 20,911 Net income (loss) 33,340 12,851 (10,700 ) 35,491 Preferred stock dividends of subsidiaries 499 — (26 ) 473 Net income (loss) for common stock 32,841 12,851 (10,674 ) 35,018 Six months ended June 30, 2015 Revenues from external customers $ 1,131,587 $ 130,131 $ 56 $ 1,261,774 Intersegment revenues (eliminations) 18 — (18 ) — Revenues 1,131,605 130,131 38 1,261,774 Income (loss) before income taxes 95,674 40,357 (27,311 ) 108,720 Income taxes (benefit) 34,961 14,031 (8,102 ) 40,890 Net income (loss) 60,713 26,326 (19,209 ) 67,830 Preferred stock dividends of subsidiaries 998 — (52 ) 946 Net income (loss) for common stock 59,715 26,326 (19,157 ) 66,884 Assets (at June 30, 2015) 5,634,307 5,777,098 28,226 11,439,631 Three months ended June 30, 2014 Revenues from external customers $ 738,423 $ 60,616 $ (382 ) $ 798,657 Intersegment revenues (eliminations) 6 — (6 ) — Revenues 738,429 60,616 (388 ) 798,657 Income (loss) before income taxes 55,126 17,956 (8,011 ) 65,071 Income taxes (benefit) 20,397 6,420 (3,500 ) 23,317 Net income (loss) 34,729 11,536 (4,511 ) 41,754 Preferred stock dividends of subsidiaries 499 — (26 ) 473 Net income (loss) for common stock 34,230 11,536 (4,485 ) 41,281 Six months ended June 30, 2014 Revenues from external customers $ 1,458,479 $ 124,235 $ (308 ) $ 1,582,406 Intersegment revenues (eliminations) 12 — (12 ) — Revenues 1,458,491 124,235 (320 ) 1,582,406 Income (loss) before income taxes 112,292 40,488 (15,728 ) 137,052 Income taxes (benefit) 41,644 14,553 (7,159 ) 49,038 Net income (loss) 70,648 25,935 (8,569 ) 88,014 Preferred stock dividends of subsidiaries 998 — (52 ) 946 Net income (loss) for common stock 69,650 25,935 (8,517 ) 87,068 Assets (at December 31, 2014) 5,590,457 5,566,222 28,463 11,185,142

Electric utility subsidiary (Ta

Electric utility subsidiary (Tables)	6 Months Ended
	Jun. 30, 2015
Regulatory projects and legal obligations
Schedule of consolidating statements of income (loss)	Selected financial information American Savings Bank, F.S.B. Statements of Income Data Three months ended Six months (in thousands) 2015 2014 2015 2014 Interest and dividend income Interest and fees on loans $ 46,035 $ 43,851 $ 91,233 $ 87,533 Interest and dividends on investment securities 3,306 2,950 6,357 5,985 Total interest and dividend income 49,341 46,801 97,590 93,518 Interest expense Interest on deposit liabilities 1,266 1,237 2,526 2,462 Interest on other borrowings 1,487 1,420 2,953 2,825 Total interest expense 2,753 2,657 5,479 5,287 Net interest income 46,588 44,144 92,111 88,231 Provision for loan losses 1,825 1,021 2,439 2,016 Net interest income after provision for loan losses 44,763 43,123 89,672 86,215 Noninterest income Fees from other financial services 5,550 5,217 10,905 10,345 Fee income on deposit liabilities 5,424 4,645 10,739 9,066 Fee income on other financial products 2,103 2,064 3,992 4,354 Bank-owned life insurance 1,058 982 2,041 1,945 Mortgage banking income 2,068 246 3,890 874 Gains on sale of investment securities — — — 2,847 Other income, net 239 661 974 1,286 Total noninterest income 16,442 13,815 32,541 30,717 Noninterest expense Compensation and employee benefits 22,319 19,872 44,085 40,158 Occupancy 4,009 4,489 8,122 8,442 Data processing 2,953 2,971 6,069 6,031 Services 2,833 2,855 5,174 5,128 Equipment 1,690 1,609 3,391 3,254 Office supplies, printing and postage 1,303 1,456 2,786 3,072 Marketing 844 1,031 1,685 1,742 FDIC insurance 773 805 1,584 1,601 Other expense 4,755 3,894 8,960 7,016 Total noninterest expense 41,479 38,982 81,856 76,444 Income before income taxes 19,726 17,956 40,357 40,488 Income taxes 6,875 6,420 14,031 14,553 Net income $ 12,851 $ 11,536 $ 26,326 $ 25,935
Schedule of consolidating balance sheets	American Savings Bank, F.S.B. Balance Sheets Data (in thousands) June 30, 2015 December 31, 2014 Assets Cash and due from banks $ 106,914 $ 107,233 Interest-bearing deposits 162,088 54,230 Available-for-sale investment securities, at fair value 693,520 550,394 Stock in Federal Home Loan Bank, at cost 10,678 69,302 Loans receivable held for investment 4,457,182 4,434,651 Allowance for loan losses (46,365 ) (45,618 ) Net loans 4,410,817 4,389,033 Loans held for sale, at lower of cost or fair value 5,581 8,424 Other 305,310 305,416 Goodwill 82,190 82,190 Total assets $ 5,777,098 $ 5,566,222 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,455,721 $ 1,342,794 Deposit liabilities—interest-bearing 3,347,550 3,280,621 Other borrowings 314,157 290,656 Other 113,015 118,363 Total liabilities 5,230,443 5,032,434 Commitments and contingencies Common stock 1 1 Additional paid in capital 339,416 338,411 Retained earnings 223,260 211,934 Accumulated other comprehensive loss, net of tax benefits Net unrealized gains on securities $ 219 $ 462 Retirement benefit plans (16,241 ) (16,022 ) (17,020 ) (16,558 ) Total shareholder’s equity 546,655 533,788 Total liabilities and shareholder’s equity $ 5,777,098 $ 5,566,222 Other assets Bank-owned life insurance $ 136,062 $ 134,115 Premises and equipment, net 85,976 92,407 Prepaid expenses 3,728 3,196 Accrued interest receivable 14,052 13,632 Mortgage-servicing rights 12,265 11,540 Low-income housing equity investments 30,974 33,438 Real estate acquired in settlement of loans, net 318 891 Other 21,935 16,197 $ 305,310 $ 305,416 Other liabilities Accrued expenses $ 26,915 $ 37,880 Federal and state income taxes payable 26,502 28,642 Cashier’s checks 27,670 20,509 Advance payments by borrowers 10,093 9,652 Other 21,835 21,680 $ 113,015 $ 118,363
Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory projects and legal obligations
Schedule of purchases from all IPPs	Purchases from all IPPs were as follows: Three months ended June 30 Six months ended June 30 (in millions) 2015 2014 2015 2014 AES Hawaii $ 26 $ 36 $ 60 $ 69 Kalaeloa 48 74 92 141 HEP 10 8 21 20 HPOWER 16 16 32 32 Other IPPs 49 54 80 91 Total IPPs $ 149 $ 188 $ 285 $ 353
Schedule of changes in asset retirement obligation	Changes to the ARO liability included in “Other liabilities” on Hawaiian Electric’s balance sheet were as follows: Six months ended June 30 (in thousands) 2015 2014 Balance, beginning of period $ 29,419 $ 43,106 Accretion expense 12 643 Liabilities incurred — — Liabilities settled (1,881 ) (6,052 ) Revisions in estimated cash flows — — Balance, end of period $ 27,550 $ 37,697
Schedule of annual decoupling filings	Below is a summary of the 2015 incremental impact by company. ($ in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Annual incremental RAM adjusted revenues $ 8.1 $ 1.5 $ 1.5 Annual change in accrued earnings sharing credits to be refunded $ — $ — $ (0.1 ) Annual change in accrued RBA balance as of December 31, 2014 (and associated revenue taxes) to be collected $ (9.2 ) $ 0.1 $ (2.2 ) Net annual incremental amount to be collected under the tariffs $ (1.1 ) $ 1.5 $ (0.8 ) Impact on typical residential customer monthly bill (in dollars) * $ (0.09 ) $ 0.88 $ (0.13 ) Note: Columns may not foot due to rounding * Based on a 500 KWH bill for Hawaiian Electric, Maui Electric, and Hawaii Electric Light. The bill impact for Lanai and Molokai customers is a decrease of $0.11 , based on a 400 KWH bill.
Schedule of consolidating statements of income (loss)	Consolidating Statement of Income (unaudited) Three months ended June 30, 2015 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 391,007 83,732 83,442 — (18 ) $ 558,163 Expenses Fuel oil 104,278 16,241 25,712 — — 146,231 Purchased power 107,370 24,555 17,359 — — 149,284 Other operation and maintenance 66,428 16,158 16,278 — — 98,864 Depreciation 29,389 9,312 5,540 — — 44,241 Taxes, other than income taxes 37,479 7,944 7,959 — — 53,382 Total expenses 344,944 74,210 72,848 — — 492,002 Operating income 46,063 9,522 10,594 — (18 ) 66,161 Allowance for equity funds used during construction 1,581 165 150 — — 1,896 Equity in earnings of subsidiaries 9,624 — — — (9,624 ) — Interest expense and other charges, net (11,290 ) (2,592 ) (2,424 ) — 18 (16,288 ) Allowance for borrowed funds used during construction 564 58 60 — — 682 Income before income taxes 46,542 7,153 8,380 — (9,624 ) 52,451 Income taxes 13,431 2,536 3,144 — — 19,111 Net income 33,111 4,617 5,236 — (9,624 ) 33,340 Preferred stock dividends of subsidiaries — 133 96 — — 229 Net income attributable to Hawaiian Electric 33,111 4,484 5,140 — (9,624 ) 33,111 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 32,841 4,484 5,140 — (9,624 ) $ 32,841 Consolidating Statement of Income (unaudited) Six months ended June 30, 2015 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 790,748 171,787 169,116 — (46 ) $ 1,131,605 Expenses Fuel oil 222,681 39,626 60,730 — — 323,037 Purchased power 210,620 46,448 28,223 — — 285,291 Other operation and maintenance 136,512 32,557 33,797 — — 202,866 Depreciation 58,778 18,625 11,081 — — 88,484 Taxes, other than income taxes 75,680 16,328 16,122 — — 108,130 Total expenses 704,271 153,584 149,953 — — 1,007,808 Operating income 86,477 18,203 19,163 — (46 ) 123,797 Allowance for equity funds used during construction 2,704 310 295 — — 3,309 Equity in earnings of subsidiaries 17,316 — — — (17,316 ) — Interest expense and other charges, net (22,528 ) (5,272 ) (4,859 ) — 46 (32,613 ) Allowance for borrowed funds used during construction 952 111 118 — — 1,181 Income before income taxes 84,921 13,352 14,717 — (17,316 ) 95,674 Income taxes 24,666 4,813 5,482 — — 34,961 Net income 60,255 8,539 9,235 — (17,316 ) 60,713 Preferred stock dividends of subsidiaries — 267 191 — — 458 Net income attributable to Hawaiian Electric 60,255 8,272 9,044 — (17,316 ) 60,255 Preferred stock dividends of Hawaiian Electric 540 — — — — 540 Net income for common stock $ 59,715 8,272 9,044 — (17,316 ) $ 59,715 Consolidating Statement of Income (unaudited) Three months ended June 30, 2014 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 530,991 103,544 103,916 — (22 ) $ 738,429 Expenses Fuel oil 195,549 31,179 43,529 — — 270,257 Purchased power 140,805 28,170 19,348 — — 188,323 Other operation and maintenance 68,992 14,817 14,755 — — 98,564 Depreciation 27,300 8,976 5,317 — — 41,593 Taxes, other than income taxes 49,949 9,757 9,918 — — 69,624 Total expenses 482,595 92,899 92,867 — — 668,361 Operating income 48,396 10,645 11,049 — (22 ) 70,068 Allowance for equity funds used during construction 1,417 121 (151 ) — — 1,387 Equity in earnings of subsidiaries 9,859 — — — (9,859 ) — Interest expense and other charges, net (11,553 ) (2,852 ) (2,469 ) — 22 (16,852 ) Allowance for borrowed funds used during construction 535 47 (59 ) — — 523 Income before income taxes 48,654 7,961 8,370 — (9,859 ) 55,126 Income taxes 14,154 2,982 3,261 — — 20,397 Net income 34,500 4,979 5,109 — (9,859 ) 34,729 Preferred stock dividends of subsidiaries — 133 96 — — 229 Net income attributable to Hawaiian Electric 34,500 4,846 5,013 — (9,859 ) 34,500 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 34,230 4,846 5,013 — (9,859 ) $ 34,230 Consolidating Statement of Income (unaudited) Six months ended June 30, 2014 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 1,043,446 208,475 206,609 — (39 ) $ 1,458,491 Expenses Fuel oil 399,096 62,679 94,782 — — 556,557 Purchased power 264,774 57,661 30,804 — — 353,239 Other operation and maintenance 127,507 28,864 30,799 — — 187,170 Depreciation 54,601 17,951 10,644 — — 83,196 Taxes, other than income taxes 98,133 19,520 19,942 — — 137,595 Total expenses 944,111 186,675 186,971 — — 1,317,757 Operating income 99,335 21,800 19,638 — (39 ) 140,734 Allowance for equity funds used during construction 2,889 186 (79 ) — — 2,996 Equity in earnings of subsidiaries 18,776 — — — (18,776 ) — Interest expense and other charges, net (22,040 ) (5,600 ) (4,974 ) — 39 (32,575 ) Allowance for borrowed funds used during construction 1,094 72 (29 ) — — 1,137 Income before income taxes 100,054 16,458 14,556 — (18,776 ) 112,292 Income taxes 29,864 6,184 5,596 — — 41,644 Net income 70,190 10,274 8,960 — (18,776 ) 70,648 Preferred stock dividends of subsidiaries — 267 191 — — 458 Net income attributable to Hawaiian Electric 70,190 10,007 8,769 — (18,776 ) 70,190 Preferred stock dividends of Hawaiian Electric 540 — — — — 540 Net income for common stock $ 69,650 10,007 8,769 — (18,776 ) $ 69,650
Schedule of consolidating statement of comprehensive income (loss)	Consolidating Statement of Comprehensive Income (unaudited) Six months ended June 30, 2014 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 69,650 10,007 8,769 — (18,776 ) $ 69,650 Other comprehensive income, net of taxes: Retirement benefit plans: Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 5,107 636 545 — (1,181 ) 5,107 Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (5,085 ) (636 ) (545 ) — 1,181 (5,085 ) Other comprehensive income, net of taxes 22 — — — — 22 Comprehensive income attributable to common shareholder $ 69,672 10,007 8,769 — (18,776 ) $ 69,672 Consolidating Statement of Comprehensive Income (Loss) (unaudited) Six months ended June 30, 2015 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 59,715 8,272 9,044 — (17,316 ) $ 59,715 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 10,190 1,364 1,252 — (2,616 ) 10,190 Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (10,183 ) (1,367 ) (1,255 ) — 2,622 (10,183 ) Other comprehensive income (loss), net of taxes 7 (3 ) (3 ) — 6 7 Comprehensive income attributable to common shareholder $ 59,722 8,269 9,041 — (17,310 ) $ 59,722 Consolidating Statement of Comprehensive Income (Loss) (unaudited) Three months ended June 30, 2015 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 32,841 4,484 5,140 — (9,624 ) $ 32,841 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 5,257 713 652 — (1,365 ) 5,257 Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (5,272 ) (716 ) (655 ) — 1,371 (5,272 ) Other comprehensive income (loss), net of taxes (15 ) (3 ) (3 ) — 6 (15 ) Comprehensive income attributable to common shareholder $ 32,826 4,481 5,137 — (9,618 ) $ 32,826 Consolidating Statement of Comprehensive Income (unaudited) Three months ended June 30, 2014 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 34,230 4,846 5,013 — (9,859 ) $ 34,230 Other comprehensive income, net of taxes: Retirement benefit plans: Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 2,588 292 292 — (584 ) 2,588 Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (2,575 ) (292 ) (292 ) — 584 (2,575 ) Other comprehensive income, net of taxes 13 — — — — 13 Comprehensive income attributable to common shareholder $ 34,243 4,846 5,013 — (9,859 ) $ 34,243
Schedule of consolidating balance sheets	Consolidating Balance Sheet (unaudited) December 31, 2014 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consoli- dating adjustments Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 43,819 5,464 3,016 — — $ 52,299 Plant and equipment 3,782,438 1,179,032 1,048,012 — — 6,009,482 Less accumulated depreciation (1,253,866 ) (473,933 ) (447,711 ) — — (2,175,510 ) Construction in progress 134,376 12,421 11,819 — — 158,616 Utility property, plant and equipment, net 2,706,767 722,984 615,136 — — 4,044,887 Nonutility property, plant and equipment, less accumulated depreciation 4,950 82 1,531 — — 6,563 Total property, plant and equipment, net 2,711,717 723,066 616,667 — — 4,051,450 Investment in wholly owned subsidiaries, at equity 538,639 — — — (538,639 ) — Current assets Cash and cash equivalents 12,416 612 633 101 — 13,762 Advances to affiliates 16,100 — — — (16,100 ) — Customer accounts receivable, net 111,462 24,222 22,800 — — 158,484 Accrued unbilled revenues, net 103,072 15,926 18,376 — — 137,374 Other accounts receivable, net 9,980 981 2,246 — (8,924 ) 4,283 Fuel oil stock, at average cost 74,515 13,800 17,731 — — 106,046 Materials and supplies, at average cost 33,154 6,664 17,432 — — 57,250 Prepayments and other 44,680 8,611 13,567 — (475 ) 66,383 Regulatory assets 58,550 6,745 6,126 — — 71,421 Total current assets 463,929 77,561 98,911 101 (25,499 ) 615,003 Other long-term assets Regulatory assets 623,784 107,454 102,788 — (183 ) 833,843 Unamortized debt expense 5,640 1,438 1,245 — — 8,323 Other 53,106 15,366 13,366 — — 81,838 Total other long-term assets 682,530 124,258 117,399 — (183 ) 924,004 Total assets $ 4,396,815 924,885 832,977 101 (564,321 ) $ 5,590,457 Capitalization and liabilities Capitalization Common stock equity $ 1,682,144 281,846 256,692 101 (538,639 ) $ 1,682,144 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 830,546 190,000 186,000 — — 1,206,546 Total capitalization 2,534,983 478,846 447,692 101 (538,639 ) 2,922,983 Current liabilities Short-term borrowings from affiliate — 10,500 5,600 — (16,100 ) — Accounts payable 122,433 23,728 17,773 — — 163,934 Interest and preferred dividends payable 15,407 3,989 2,931 — (11 ) 22,316 Taxes accrued 176,339 37,548 36,807 — (292 ) 250,402 Regulatory liabilities 191 — 441 — — 632 Other 48,282 9,866 16,094 — (9,096 ) 65,146 Total current liabilities 362,652 85,631 79,646 — (25,499 ) 502,430 Deferred credits and other liabilities Deferred income taxes 429,515 90,119 83,238 — — 602,872 Regulatory liabilities 236,727 77,707 29,966 — (183 ) 344,217 Unamortized tax credits 49,865 14,902 14,725 — — 79,492 Defined benefit pension and other postretirement benefit plans liability 446,888 72,547 75,960 — — 595,395 Other 52,446 10,658 13,532 — — 76,636 Total deferred credits and other liabilities 1,215,441 265,933 217,421 — (183 ) 1,698,612 Contributions in aid of construction 283,739 94,475 88,218 — — 466,432 Total capitalization and liabilities $ 4,396,815 924,885 832,977 101 (564,321 ) $ 5,590,457 Consolidating Balance Sheet (unaudited) June 30, 2015 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consoli- dating adjustments Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 43,542 5,464 3,016 — — $ 52,022 Plant and equipment 3,889,544 1,187,999 1,064,686 — — 6,142,229 Less accumulated depreciation (1,275,328 ) (484,930 ) (458,445 ) — — (2,218,703 ) Construction in progress 162,872 18,754 14,729 — — 196,355 Utility property, plant and equipment, net 2,820,630 727,287 623,986 — — 4,171,903 Nonutility property, plant and equipment, less accumulated depreciation 4,949 82 1,531 — — 6,562 Total property, plant and equipment, net 2,825,579 727,369 625,517 — — 4,178,465 Investment in wholly owned subsidiaries, at equity 543,351 — — — (543,351 ) — Current assets Cash and cash equivalents 3,393 801 175 101 — 4,470 Advances to affiliates 18,200 — — — (18,200 ) — Customer accounts receivable, net 95,975 23,981 19,966 — — 139,922 Accrued unbilled revenues, net 80,165 13,772 15,507 — — 109,444 Other accounts receivable, net 11,816 2,009 2,703 — (10,638 ) 5,890 Fuel oil stock, at average cost 85,710 8,350 14,348 — — 108,408 Materials and supplies, at average cost 32,857 7,172 17,326 — — 57,355 Prepayments and other 23,986 3,345 8,882 — (251 ) 35,962 Regulatory assets 82,751 8,829 7,656 — — 99,236 Total current assets 434,853 68,259 86,563 101 (29,089 ) 560,687 Other long-term assets Regulatory assets 601,012 105,093 99,218 — — 805,323 Unamortized debt expense 5,397 1,353 1,150 — — 7,900 Other 52,211 15,303 14,418 — — 81,932 Total other long-term assets 658,620 121,749 114,786 — — 895,155 Total assets $ 4,462,403 917,377 826,866 101 (572,440 ) $ 5,634,307 Capitalization and liabilities Capitalization Common stock equity $ 1,696,658 285,104 258,146 101 (543,351 ) $ 1,696,658 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 830,546 190,000 186,000 — — 1,206,546 Total capitalization 2,549,497 482,104 449,146 101 (543,351 ) 2,937,497 Current liabilities Current portion of long-term debt — — — — — — Short-term borrowings from non-affiliates 88,993 — — — — 88,993 Short-term borrowings from affiliate — 13,000 5,200 — (18,200 ) — Accounts payable 113,360 16,479 17,911 — — 147,750 Interest and preferred dividends payable 15,435 3,962 2,976 — (6 ) 22,367 Taxes accrued 130,919 29,577 28,408 — (251 ) 188,653 Regulatory liabilities 286 — 477 — — 763 Other 51,946 9,237 15,834 — (10,632 ) 66,385 Total current liabilities 400,939 72,255 70,806 — (29,089 ) 514,911 Deferred credits and other liabilities Deferred income taxes 428,866 91,220 85,616 — — 605,702 Regulatory liabilities 245,038 81,195 30,093 — — 356,326 Unamortized tax credits 53,632 15,290 14,971 — — 83,893 Defined benefit pension and other postretirement benefit plans liability 436,946 67,802 73,889 — — 578,637 Other 47,777 13,142 13,662 — — 74,581 Total deferred credits and other liabilities 1,212,259 268,649 218,231 — — 1,699,139 Contributions in aid of construction 299,708 94,369 88,683 — — 482,760 Total capitalization and liabilities $ 4,462,403 917,377 826,866 101 (572,440 ) $ 5,634,307
Schedule of consolidating statement of changes in common stock equity	Consolidating Statement of Changes in Common Stock Equity (unaudited) Six months ended June 30, 2015 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Balance, December 31, 2014 $ 1,682,144 281,846 256,692 101 (538,639 ) $ 1,682,144 Net income for common stock 59,715 8,272 9,044 — (17,316 ) 59,715 Other comprehensive income (loss), net of taxes 7 (3 ) (3 ) — 6 7 Common stock dividends (45,203 ) (5,010 ) (7,587 ) — 12,597 (45,203 ) Common stock issuance expenses (5 ) (1 ) — — 1 (5 ) Balance, June 30, 2015 $ 1,696,658 285,104 258,146 101 (543,351 ) $ 1,696,658 Hawaiian Electric Company, Inc. and Subsidiaries Consolidating Statement of Changes in Common Stock Equity (unaudited) Six months ended June 30, 2014 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Balance, December 31, 2013 $ 1,593,564 274,802 248,771 101 (523,674 ) $ 1,593,564 Net income for common stock 69,650 10,007 8,769 — (18,776 ) 69,650 Other comprehensive income, net of taxes 22 — — — — 22 Common stock dividends (44,246 ) (5,813 ) (7,175 ) — 12,988 (44,246 ) Common stock issuance expenses (3 ) (1 ) — — 1 (3 ) Balance, June 30, 2014 $ 1,618,987 278,995 250,365 101 (529,461 ) $ 1,618,987
Schedule of condensed consolidating statement of cash flows	Consolidating Statement of Cash Flows (unaudited) Six months ended June 30, 2014 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Cash flows from operating activities Net income $ 70,190 10,274 8,960 — (18,776 ) $ 70,648 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of subsidiaries (18,826 ) — — — 18,776 (50 ) Common stock dividends received from subsidiaries 13,038 — — — (12,988 ) 50 Depreciation of property, plant and equipment 54,601 17,951 10,644 — — 83,196 Other amortization 554 1,299 1,744 — — 3,597 Increase in deferred income taxes 34,976 4,478 5,932 — — 45,386 Change in tax credits, net 3,482 434 311 — — 4,227 Allowance for equity funds used during construction (2,889 ) (186 ) 79 — — (2,996 ) Change in cash overdraft — — (1,038 ) — — (1,038 ) Changes in assets and liabilities: Decrease (increase) in accounts receivable (4,840 ) (1,527 ) 708 — 620 (5,039 ) Decrease (increase) in accrued unbilled revenues 1,058 (352 ) 1,549 — — 2,255 Decrease (increase) in fuel oil stock (23,457 ) 1,661 (5,410 ) — — (27,206 ) Increase in materials and supplies (229 ) (246 ) (1,360 ) — — (1,835 ) Increase in regulatory assets (15,893 ) (1,640 ) (198 ) — — (17,731 ) Decrease in accounts payable (54,777 ) (5,621 ) (2,908 ) — — (63,306 ) Change in prepaid and accrued income and utility revenue taxes (33,867 ) (3,709 ) (694 ) — — (38,270 ) Decrease in defined benefit pension and other postretirement benefit plans liability (281 ) — (217 ) — — (498 ) Change in other assets and liabilities (19,897 ) (2,586 ) (3,155 ) — (620 ) (26,258 ) Net cash provided by operating activities 2,943 20,230 14,947 — (12,988 ) 25,132 Cash flows from investing activities Capital expenditures (104,710 ) (20,567 ) (20,457 ) — — (145,734 ) Contributions in aid of construction 8,520 2,493 2,196 — — 13,209 Advances from (to) affiliates (16,761 ) 1,000 — — 15,761 — Net cash used in investing activities (112,951 ) (17,074 ) (18,261 ) — 15,761 (132,525 ) Cash flows from financing activities Common stock dividends (44,246 ) (5,813 ) (7,175 ) — 12,988 (44,246 ) Preferred stock dividends of Hawaiian Electric and subsidiaries (540 ) (267 ) (191 ) — — (998 ) Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less 101,989 3,400 13,361 — (15,761 ) 102,989 Other (334 ) (48 ) (75 ) — — (457 ) Net cash provided by (used in) financing activities 56,869 (2,728 ) 5,920 — (2,773 ) 57,288 Net increase (decrease) in cash and cash equivalents (53,139 ) 428 2,606 — — (50,105 ) Cash and cash equivalents, beginning of period 61,245 1,326 153 101 — 62,825 Cash and cash equivalents, end of period $ 8,106 1,754 2,759 101 — $ 12,720 Consolidating Statement of Cash Flows (unaudited) Six months ended June 30, 2015 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Cash flows from operating activities Net income $ 60,255 8,539 9,235 — (17,316 ) $ 60,713 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of subsidiaries (17,366 ) — — — 17,316 (50 ) Common stock dividends received from subsidiaries 12,647 — — — (12,597 ) 50 Depreciation of property, plant and equipment 58,778 18,625 11,081 — — 88,484 Other amortization 1,177 870 701 — — 2,748 Increase in deferred income taxes 26,423 1,376 5,521 — — 33,320 Change in tax credits, net 3,803 399 259 — — 4,461 Allowance for equity funds used during construction (2,704 ) (310 ) (295 ) — — (3,309 ) Change in cash overdraft — — 193 — — 193 Changes in assets and liabilities: Decrease (increase) in accounts receivable 13,651 (787 ) 2,377 — 1,714 16,955 Decrease in accrued unbilled revenues 22,907 2,154 2,869 — — 27,930 Decrease (increase) in fuel oil stock (11,195 ) 5,450 3,383 — — (2,362 ) Decrease (increase) in materials and supplies 297 (508 ) 106 — — (105 ) Increase in regulatory assets (15,984 ) (2,987 ) (1,005 ) — — (19,976 ) Decrease in accounts payable (56,746 ) (8,755 ) (3,450 ) — — (68,951 ) Change in prepaid and accrued income and utility revenue taxes (53,350 ) (3,079 ) (7,184 ) — — (63,613 ) Increase in defined benefit pension and other postretirement benefit plans liability — — 221 — — 221 Change in other assets and liabilities (6,099 ) (1,724 ) (3,565 ) — (1,714 ) (13,102 ) Net cash provided by operating activities 36,494 19,263 20,447 — (12,597 ) 63,607 Cash flows from investing activities Capital expenditures (103,079 ) (17,762 ) (13,722 ) — — (134,563 ) Contributions in aid of construction 16,628 1,465 996 — — 19,089 Advances from affiliates (2,100 ) — — — 2,100 — Net cash used in investing activities (88,551 ) (16,297 ) (12,726 ) — 2,100 (115,474 ) Cash flows from financing activities Common stock dividends (45,203 ) (5,010 ) (7,587 ) — 12,597 (45,203 ) Preferred stock dividends of Hawaiian Electric and subsidiaries (540 ) (267 ) (191 ) — — (998 ) Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less 88,993 2,500 (400 ) — (2,100 ) 88,993 Other (216 ) — (1 ) — — (217 ) Net cash provided by (used in) financing activities 43,034 (2,777 ) (8,179 ) — 10,497 42,575 Net increase (decrease) in cash and cash equivalents (9,023 ) 189 (458 ) — — (9,292 ) Cash and cash equivalents, beginning of period 12,416 612 633 101 — 13,762 Cash and cash equivalents, end of period $ 3,393 801 175 101 — $ 4,470

Bank segment (Tables)

Bank segment (Tables)	6 Months Ended
	Jun. 30, 2015
Bank subsidiary
Schedule of statements of income data	Selected financial information American Savings Bank, F.S.B. Statements of Income Data Three months ended Six months (in thousands) 2015 2014 2015 2014 Interest and dividend income Interest and fees on loans $ 46,035 $ 43,851 $ 91,233 $ 87,533 Interest and dividends on investment securities 3,306 2,950 6,357 5,985 Total interest and dividend income 49,341 46,801 97,590 93,518 Interest expense Interest on deposit liabilities 1,266 1,237 2,526 2,462 Interest on other borrowings 1,487 1,420 2,953 2,825 Total interest expense 2,753 2,657 5,479 5,287 Net interest income 46,588 44,144 92,111 88,231 Provision for loan losses 1,825 1,021 2,439 2,016 Net interest income after provision for loan losses 44,763 43,123 89,672 86,215 Noninterest income Fees from other financial services 5,550 5,217 10,905 10,345 Fee income on deposit liabilities 5,424 4,645 10,739 9,066 Fee income on other financial products 2,103 2,064 3,992 4,354 Bank-owned life insurance 1,058 982 2,041 1,945 Mortgage banking income 2,068 246 3,890 874 Gains on sale of investment securities — — — 2,847 Other income, net 239 661 974 1,286 Total noninterest income 16,442 13,815 32,541 30,717 Noninterest expense Compensation and employee benefits 22,319 19,872 44,085 40,158 Occupancy 4,009 4,489 8,122 8,442 Data processing 2,953 2,971 6,069 6,031 Services 2,833 2,855 5,174 5,128 Equipment 1,690 1,609 3,391 3,254 Office supplies, printing and postage 1,303 1,456 2,786 3,072 Marketing 844 1,031 1,685 1,742 FDIC insurance 773 805 1,584 1,601 Other expense 4,755 3,894 8,960 7,016 Total noninterest expense 41,479 38,982 81,856 76,444 Income before income taxes 19,726 17,956 40,357 40,488 Income taxes 6,875 6,420 14,031 14,553 Net income $ 12,851 $ 11,536 $ 26,326 $ 25,935
Schedule of statements of comprehensive income data	American Savings Bank, F.S.B. Statements of Comprehensive Income Data Three months ended Six months (in thousands) 2015 2014 2015 2014 Net income $ 12,851 $ 11,536 $ 26,326 $ 25,935 Other comprehensive income (loss), net of taxes: Net unrealized gains (losses) on available-for-sale investment securities: Net unrealized gains (losses) on available-for-sale investment securities arising during the period, net of (taxes) benefits of $2,439, $(1,679), $161 and $(3,343) for the respective periods (3,694 ) 2,543 (243 ) 5,063 Less: reclassification adjustment for net realized gains included in net income, net of taxes of nil, nil, nil and $1,132 for the respective periods — — — (1,715 ) Retirement benefit plans: Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $255, $142, $514 and $286 for the respective periods 387 215 779 434 Other comprehensive income (loss), net of taxes (3,307 ) 2,758 536 3,782 Comprehensive income $ 9,544 $ 14,294 $ 26,862 $ 29,717
Schedule of balance sheets data	American Savings Bank, F.S.B. Balance Sheets Data (in thousands) June 30, 2015 December 31, 2014 Assets Cash and due from banks $ 106,914 $ 107,233 Interest-bearing deposits 162,088 54,230 Available-for-sale investment securities, at fair value 693,520 550,394 Stock in Federal Home Loan Bank, at cost 10,678 69,302 Loans receivable held for investment 4,457,182 4,434,651 Allowance for loan losses (46,365 ) (45,618 ) Net loans 4,410,817 4,389,033 Loans held for sale, at lower of cost or fair value 5,581 8,424 Other 305,310 305,416 Goodwill 82,190 82,190 Total assets $ 5,777,098 $ 5,566,222 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,455,721 $ 1,342,794 Deposit liabilities—interest-bearing 3,347,550 3,280,621 Other borrowings 314,157 290,656 Other 113,015 118,363 Total liabilities 5,230,443 5,032,434 Commitments and contingencies Common stock 1 1 Additional paid in capital 339,416 338,411 Retained earnings 223,260 211,934 Accumulated other comprehensive loss, net of tax benefits Net unrealized gains on securities $ 219 $ 462 Retirement benefit plans (16,241 ) (16,022 ) (17,020 ) (16,558 ) Total shareholder’s equity 546,655 533,788 Total liabilities and shareholder’s equity $ 5,777,098 $ 5,566,222 Other assets Bank-owned life insurance $ 136,062 $ 134,115 Premises and equipment, net 85,976 92,407 Prepaid expenses 3,728 3,196 Accrued interest receivable 14,052 13,632 Mortgage-servicing rights 12,265 11,540 Low-income housing equity investments 30,974 33,438 Real estate acquired in settlement of loans, net 318 891 Other 21,935 16,197 $ 305,310 $ 305,416 Other liabilities Accrued expenses $ 26,915 $ 37,880 Federal and state income taxes payable 26,502 28,642 Cashier’s checks 27,670 20,509 Advance payments by borrowers 10,093 9,652 Other 21,835 21,680 $ 113,015 $ 118,363
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 value Gross unrealized losses Less than 12 months 12 months or longer (dollar in thousands) Number of issues Fair value Amount Number of issues Fair value Amount June 30, 2015 Available-for-sale U.S. Treasury and federal agency obligations $ 168,143 $ 1,355 $ (1,039 ) $ 168,459 12 $ 76,835 $ (477 ) 3 $ 18,332 $ (562 ) Mortgage-related securities- FNMA, FHLMC and GNMA 525,014 5,217 (5,170 ) 525,061 20 170,965 (1,622 ) 25 136,546 (3,548 ) $ 693,157 $ 6,572 $ (6,209 ) $ 693,520 32 $ 247,800 $ (2,099 ) 28 $ 154,878 $ (4,110 ) December 31, 2014 Available-for-sale U.S. Treasury and federal agency obligations $ 119,507 $ 1,092 $ (1,039 ) $ 119,560 6 $ 41,970 $ (361 ) 5 $ 29,168 $ (678 ) Mortgage-related securities- FNMA, FHLMC and GNMA 430,120 5,653 (4,939 ) 430,834 6 47,029 (164 ) 29 172,623 (4,775 ) $ 549,627 $ 6,745 $ (5,978 ) $ 550,394 12 $ 88,999 $ (525 ) 34 $ 201,791 $ (5,453 )
Schedule of contractual maturities of available-for-sale securities	The contractual maturities of available-for-sale investment securities were as follows: June 30, 2015 Amortized cost Fair value (in thousands) Due in one year or less $ — $ — Due after one year through five years 37,272 37,631 Due after five years through ten years 77,747 78,291 Due after ten years 53,124 52,537 168,143 168,459 Mortgage-related securities-FNMA,FHLMC and GNMA 525,014 525,061 Total available-for-sale securities $ 693,157 $ 693,520
Schedule of allowance for loan losses	The allowance for loan losses (balances and changes) and financing receivables were as follows: (in thousands) Residential 1-4 family Commercial real estate Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Unallocated Total Three months ended Allowance for loan losses: Beginning balance $ 4,921 $ 11,228 $ 6,523 $ 2,286 $ 2,837 $ 21 $ 14,580 $ 3,399 $ — $ 45,795 Charge-offs (58 ) — (17 ) — — — (756 ) (983 ) — (1,814 ) Recoveries 55 — 8 136 — — 106 254 — 559 Provision (627 ) (808 ) 99 (319 ) (262 ) (3 ) 3,539 206 — 1,825 Ending balance $ 4,291 $ 10,420 $ 6,613 $ 2,103 $ 2,575 $ 18 $ 17,469 $ 2,876 $ — $ 46,365 Three months ended Allowance for loan losses: Beginning balance $ 5,475 $ 5,715 $ 5,969 $ 1,575 $ 3,063 $ 24 $ 15,592 $ 2,316 $ 1,194 $ 40,923 Charge-offs (94 ) — (136 ) (47 ) — — (246 ) (461 ) — (984 ) Recoveries 555 — 314 77 — — 225 241 — 1,412 Provision (269 ) 1,515 934 232 327 2 (427 ) (99 ) (1,194 ) 1,021 Ending balance $ 5,667 $ 7,230 $ 7,081 $ 1,837 $ 3,390 $ 26 $ 15,144 $ 1,997 $ — $ 42,372 Six months ended Allowance for loan losses: Beginning balance $ 4,662 $ 8,954 $ 6,982 $ 1,875 $ 5,471 $ 28 $ 14,017 $ 3,629 $ — $ 45,618 Charge-offs (214 ) — (20 ) — — — (802 ) (1,925 ) — (2,961 ) Recoveries 67 — 39 185 — — 447 531 — 1,269 Provision (224 ) 1,466 (388 ) 43 (2,896 ) (10 ) 3,807 641 — 2,439 Ending balance $ 4,291 $ 10,420 $ 6,613 $ 2,103 $ 2,575 $ 18 $ 17,469 $ 2,876 $ — $ 46,365 Ending balance: individually evaluated for impairment $ 1,363 $ — $ 269 $ 1,048 $ — $ — $ 2,702 $ 8 $ 5,390 Ending balance: collectively evaluated for impairment $ 2,928 $ 10,420 $ 6,344 $ 1,055 $ 2,575 $ 18 $ 14,767 $ 2,868 $ — $ 40,975 Financing Receivables: Ending balance $ 2,045,357 $ 561,262 $ 820,296 $ 17,273 $ 62,444 $ 19,984 $ 821,636 $ 115,167 $ 4,463,419 Ending balance: individually evaluated for impairment $ 22,720 $ 522 $ 1,899 $ 6,534 $ — $ — $ 23,541 $ 15 $ 55,231 Ending balance: collectively evaluated for impairment $ 2,022,637 $ 560,740 $ 818,397 $ 10,739 $ 62,444 $ 19,984 $ 798,095 $ 115,152 $ 4,408,188 Six months ended Allowance for loan losses: Beginning balance $ 5,534 $ 5,059 $ 5,229 $ 1,817 $ 2,397 $ 19 $ 15,803 $ 2,367 $ 1,891 $ 40,116 Charge-offs (360 ) — (136 ) (53 ) — — (370 ) (1,022 ) — (1,941 ) Recoveries 896 — 325 163 — — 325 472 — 2,181 Provision (403 ) 2,171 1,663 (90 ) 993 7 (614 ) 180 (1,891 ) 2,016 Ending balance $ 5,667 $ 7,230 $ 7,081 $ 1,837 $ 3,390 $ 26 $ 15,144 $ 1,997 $ — $ 42,372 Ending balance: individually evaluated for impairment $ 969 $ 941 $ 14 $ 1,202 $ — $ — $ 1,239 $ 5 $ 4,370 Ending balance: collectively evaluated for impairment $ 4,698 $ 6,289 $ 7,067 $ 635 $ 3,390 $ 26 $ 13,905 $ 1,992 $ — $ 38,002 Financing Receivables: Ending balance $ 2,019,092 $ 476,116 $ 790,837 $ 17,189 $ 80,312 $ 17,441 $ 782,804 $ 111,254 $ 4,295,045 Ending balance: individually evaluated for impairment $ 17,978 $ 4,512 $ 612 $ 9,320 $ — $ — $ 18,042 $ 17 $ 50,481 Ending balance: collectively evaluated for impairment $ 2,001,114 $ 471,604 $ 790,225 $ 7,869 $ 80,312 $ 17,441 $ 764,762 $ 111,237 $ 4,244,564
Schedule of credit risk profile by internally assigned grade for loans	The credit risk profile by internally assigned grade for loans was as follows: June 30, 2015 December 31, 2014 (in thousands) Commercial real estate Commercial construction Commercial Commercial real estate Commercial construction Commercial Grade: Pass $ 507,904 $ 58,356 $ 763,238 $ 493,105 $ 79,312 $ 743,334 Special mention 7,232 4,088 10,313 5,209 — 16,095 Substandard 46,126 — 47,492 33,603 17,126 31,665 Doubtful — — 593 — — 663 Loss — — — — — — Total $ 561,262 $ 62,444 $ 821,636 $ 531,917 $ 96,438 $ 791,757
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 days past due 60-89 days past due Greater than 90 days Total past due Current Total financing receivables Recorded investment> 90 days and accruing June 30, 2015 Real estate: Residential 1-4 family $ 5,016 $ 1,900 $ 11,998 $ 18,914 $ 2,026,443 $ 2,045,357 $ — Commercial real estate — — — — 561,262 561,262 — Home equity line of credit 923 284 389 1,596 818,700 820,296 — Residential land 420 267 — 687 16,586 17,273 Commercial construction — — — — 62,444 62,444 — Residential construction — — — — 19,984 19,984 — Commercial 907 147 528 1,582 820,054 821,636 — Consumer 1,119 331 295 1,745 113,422 115,167 — Total loans $ 8,385 $ 2,929 $ 13,210 $ 24,524 $ 4,438,895 $ 4,463,419 $ — December 31, 2014 Real estate: Residential 1-4 family $ 6,124 $ 1,732 $ 12,632 $ 20,488 $ 2,023,717 $ 2,044,205 $ — Commercial real estate — — — — 531,917 531,917 — Home equity line of credit 1,341 501 194 2,036 816,779 818,815 — Residential land — — — — 16,240 16,240 — Commercial construction — — — — 96,438 96,438 — Residential construction — — — — 18,961 18,961 — Commercial 699 145 569 1,413 790,344 791,757 — Consumer 829 333 403 1,565 121,091 122,656 — Total loans $ 8,993 $ 2,711 $ 13,798 $ 25,502 $ 4,415,487 $ 4,440,989 $ —
Schedule of credit risk profile based on nonaccrual loans, accruing loans 90 days or more past due	The credit risk profile based on nonaccrual loans, accruing loans 90 days or more past due and TDR loans was as follows: (in thousands) June 30, 2015 December 31, 2014 Real estate: Residential 1-4 family $ 18,172 $ 19,253 Commercial real estate 522 5,112 Home equity line of credit 1,962 1,087 Residential land 712 720 Commercial construction — — Residential construction — — Commercial 9,225 10,053 Consumer 543 661 Total nonaccrual loans $ 31,136 $ 36,886 Real estate: Residential 1-4 family $ — $ — Commercial real estate — — Home equity line of credit — — Residential land — — Commercial construction — — Residential construction — — Commercial — — Consumer — — Total accruing loans 90 days or more past due $ — $ — Real estate: Residential 1-4 family $ 14,257 $ 13,525 Commercial real estate — — Home equity line of credit 1,362 480 Residential land 5,822 7,130 Commercial construction — — Residential construction — — Commercial 1,315 2,972 Consumer — — Total troubled debt restructured loans not included above $ 22,756 $ 24,107
Schedule of the carrying amount and the total unpaid principal balance of impaired loans, with and without recorded allowance for loans losses	The total carrying amount and the total unpaid principal balance of impaired loans were as follows: June 30, 2015 Three months ended Six months ended (in thousands) Recorded investment Unpaid principal balance Related Allowance Average recorded investment Interest income recognized* Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 11,132 $ 12,417 $ — $ 11,193 $ 66 $ 11,373 $ 155 Commercial real estate 522 593 — 530 — 543 — Home equity line of credit 376 583 — 433 1 417 2 Residential land 2,597 3,366 — 3,026 44 2,831 96 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 5,221 7,119 — 5,432 139 6,363 141 Consumer — — — — — — — $ 19,848 $ 24,078 $ — $ 20,614 $ 250 $ 21,527 $ 394 With an allowance recorded Real estate: Residential 1-4 family $ 11,588 $ 11,641 $ 1,363 $ 11,794 $ 130 $ 11,651 $ 256 Commercial real estate — — — 1,474 — 2,978 — Home equity line of credit 1,523 1,585 269 1,212 8 919 14 Residential land 3,937 4,015 1,048 4,142 84 4,666 167 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 18,320 20,161 2,702 9,358 36 7,170 86 Consumer 15 15 8 15 — 15 — $ 35,383 $ 37,417 $ 5,390 $ 27,995 $ 258 $ 27,399 $ 523 Total Real estate: Residential 1-4 family $ 22,720 $ 24,058 $ 1,363 $ 22,987 $ 196 $ 23,024 $ 411 Commercial real estate 522 593 — 2,004 — 3,521 — Home equity line of credit 1,899 2,168 269 1,645 9 1,336 16 Residential land 6,534 7,381 1,048 7,168 128 7,497 263 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 23,541 27,280 2,702 14,790 175 13,533 227 Consumer 15 15 8 15 — 15 — $ 55,231 $ 61,495 $ 5,390 $ 48,609 $ 508 $ 48,926 $ 917 December 31, 2014 Year ended December 31, 2014 (in thousands) Recorded investment Unpaid principal balance Related allowance Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 11,654 $ 12,987 $ — $ 9,056 $ 227 Commercial real estate 571 626 — 194 — Home equity line of credit 363 606 — 402 5 Residential land 2,344 3,200 — 2,728 172 Commercial construction — — — — — Residential construction — — — — — Commercial 8,235 11,471 — 5,204 38 Consumer — — — 8 — $ 23,167 $ 28,890 $ — $ 17,592 $ 442 With an allowance recorded Real estate: Residential 1-4 family $ 11,327 $ 11,347 $ 951 $ 8,822 $ 419 Commercial real estate 4,541 4,541 1,845 3,415 478 Home equity line of credit 416 420 46 132 6 Residential land 5,506 5,584 1,057 6,415 484 Commercial construction — — — — — Residential construction — — — — — Commercial 4,873 5,211 760 12,089 438 Consumer 16 16 6 9 — $ 26,679 $ 27,119 $ 4,665 $ 30,882 $ 1,825 Total Real estate: Residential 1-4 family $ 22,981 $ 24,334 $ 951 $ 17,878 $ 646 Commercial real estate 5,112 5,167 1,845 3,609 478 Home equity line of credit 779 1,026 46 534 11 Residential land 7,850 8,784 1,057 9,143 656 Commercial construction — — — — — Residential construction — — — — — Commercial 13,108 16,682 760 17,293 476 Consumer 16 16 6 17 — $ 49,846 $ 56,009 $ 4,665 $ 48,474 $ 2,267 * Since loan was classified as impaired.
Schedule of loan modifications	Loans modified in TDRs that experienced a payment default of 90 days or more in for the indicated periods, and for which the payment of default occurred within one year of the modification, were as follows: Three months ended June 30, 2014 Six months ended June 30, 2014 (dollars in thousands) Number of contracts Recorded investment Number of contracts Recorded investment Troubled debt restructurings that subsequently defaulted Real estate loans: Residential 1-4 family 1 $ 390 1 $ 390 Commercial real estate — — — — Home equity line of credit — — — — Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial loans — — — — Consumer loans — — — — 1 $ 390 1 $ 390 Loan modifications that occurred and the impact on the allowance for loan losses were as follows: Three months ended June 30, 2015 Six months ended June 30, 2015 Number of contracts Outstanding recorded investment 1 Net increase in allowance Number of contracts Outstanding recorded investment 1 Net increase in allowance (dollars in thousands) Pre-modification Post-modification (as of period end) Pre-modification Post-modification (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 2 $ 318 $ 318 $ — 7 $ 1,195 $ 1,213 $ 47 Commercial real estate — — — — — — — — Home equity line of credit 13 690 690 105 22 1,119 1,119 160 Residential land — — — — — — — — Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial 3 161 161 78 4 253 253 78 Consumer — — — — — — — — 18 $ 1,169 $ 1,169 $ 183 33 $ 2,567 $ 2,585 $ 285 Three months ended June 30, 2014 Six months ended June 30, 2014 Number of contracts Outstanding recorded 1 Net increase in allowance Number of contracts Outstanding recorded 1 Net increase in allowance (dollars in thousands) Pre-modification Post-modification (as of period end) Pre-modification Post-modification (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 7 $ 2,194 $ 2,212 $ 207 12 $ 3,115 $ 3,147 $ 251 Commercial real estate — — — — — — — — Home equity line of credit — — — — — — — — Residential land 9 2,915 2,915 225 16 4,048 4,048 400 Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial 2 754 754 — 5 1,227 1,227 14 Consumer — — — — — — — — 18 $ 5,863 $ 5,881 $ 432 33 $ 8,390 $ 8,422 $ 665 1 The reported balances include loans that became TDR during the period, and were fully paid-off, charged-off, or sold prior to period end.
Schedule of amortized intangible assets	The carrying values of mortgage servicing assets were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net June 30, 2015 $ 29,182 $ (16,880 ) $ (37 ) $ 12,265 June 30, 2014 26,357 (14,578 ) (174 ) 11,605 Changes related to mortgage servicing rights were as follows: (in thousands) 2015 2014 Mortgage servicing rights Balance, January 1 $ 11,749 $ 11,938 Amount capitalized 2,001 753 Amortization (1,444 ) (872 ) Other-than-temporary impairment (4 ) (40 ) Carrying amount before valuation allowance, June 30 12,302 11,779 Valuation allowance for mortgage servicing rights Balance, January 1 209 251 Provision (recovery) (168 ) (37 ) Other-than-temporary impairment (4 ) (40 ) Balance, June 30 37 174 Net carrying value of mortgage servicing rights $ 12,265 $ 11,605
Schedule of key assumptions used in estimating fair value	Key assumptions used in estimating the fair value of the bank’s mortgage servicing rights were as follows: (dollars in thousands) June 30, 2015 December 31, 2014 Unpaid principal balance $ 1,467,492 $ 1,391,030 Weighted average note rate 4.02 % 4.07 % Weighted average discount rate 9.5 % 9.6 % Weighted average prepayment speed 11.0 % 9.5 % The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis: Significant unobservable input value 1 ($ in thousands) Fair value Valuation technique Significant unobservable input Range Weighted Average June 30, 2015 Residential loans $ 658 Fair value of property or collateral Appraised value less 7% selling costs 31-91% 66% Total loans $ 658 December 31, 2014 Residential loans $ 2,297 Fair value of property or collateral Appraised value less 7% selling costs 39-99% 83% Home equity lines of credit 3 Fair value of property or collateral Appraised value less 7% selling costs 7% Commercial loans 145 Fair value of property or collateral Fair value of business assets 91% Total loans $ 2,445 Real estate acquired in settlement of loans $ 288 Fair value of property or collateral Appraised value less 7% selling cost 100% 100% 1 Represent percent of outstanding principal balance.
Schedule of sensitivity analysis of fair value, transferor's interests in transferred financial assets	The sensitivity analysis of fair value of MSR to hypothetical adverse changes of 25 and 50 basis points in certain key assumptions is as follows: (dollars in thousands) June 30, 2015 December 31, 2014 Prepayment rate: 25 basis points adverse rate change $ (814 ) $ (757 ) 50 basis points adverse rate change (1,537 ) (1,524 ) Discount rate: 25 basis points adverse rate change (132 ) (140 ) 50 basis points adverse rate change (262 ) (278 )
Schedule of securities sold under agreements to repurchase	The following tables present information about the securities sold under agreements to repurchase, including the related collateral received from or pledged to counterparties: (in millions) Gross amount of recognized liabilities Gross amount offset in the Balance Sheet Net amount of liabilities presented in the Balance Sheet Repurchase agreements June 30, 2015 $214 $— $214 December 31, 2014 191 — 191 Gross amount not offset in the Balance Sheet (in millions) Net amount of liabilities presented in the Balance Sheet Financial instruments Cash collateral pledged Net amount June 30, 2015 Financial institution $ 50 $ 50 $ — $ — Government entities 66 66 — — Commercial account holders 98 98 — — Total $ 214 $ 214 $ — $ — December 31, 2014 Financial institution $ 50 $ 50 $ — $ — Government entities 56 56 — — Commercial account holders 85 85 — — Total $ 191 $ 191 $ — $ —
Schedule of notional and fair value of derivatives	The notional amount and fair value of ASB’s derivative financial instruments were as follows: June 30, 2015 December 31, 2014 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 33,178 $ 446 $ 29,330 $ 390 Forward commitments 28,551 (7 ) 32,833 (106 )
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 June 30, 2015 December 31, 2014 (in thousands) Asset derivatives Liability derivatives Asset derivatives Liability Interest rate lock commitments $ 448 $ 2 $ 393 $ 3 Forward commitments 6 13 5 111 $ 454 $ 15 $ 398 $ 114 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 the statements of income: Derivative Financial Instruments Not Designated as Hedging Instruments Location of net gains (losses) recognized in the Statement of Income Three months ended Six months (in thousands) 2015 2014 2015 2014 Interest rate lock commitments Mortgage banking income $ (389 ) $ (194 ) $ 56 $ (464 ) Forward commitments Mortgage banking income 258 (33 ) 99 (139 ) $ (131 ) $ (227 ) $ 155 $ (603 )

Retirement benefits (Tables)

Retirement benefits (Tables)	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of components of net periodic benefit cost for consolidated HEI	The components of net periodic benefit cost for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended June 30 Six months ended June 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2015 2014 2015 2014 2015 2014 2015 2014 HEI consolidated Service cost $ 16,640 $ 12,525 $ 1,094 $ 866 $ 33,106 $ 24,652 $ 1,963 $ 1,749 Interest cost 19,363 18,113 2,268 2,117 38,502 36,114 4,503 4,277 Expected return on plan assets (22,149 ) (20,334 ) (2,934 ) (2,748 ) (44,300 ) (40,681 ) (5,841 ) (5,456 ) Amortization of net prior service loss (gain) 1 22 (449 ) (449 ) 2 44 (897 ) (897 ) Amortization of net actuarial loss (gain) 9,455 5,138 466 (3 ) 18,417 10,176 896 (6 ) Net periodic benefit cost (credit) 23,310 15,464 445 (217 ) 45,727 30,305 624 (333 ) Impact of PUC D&Os (10,464 ) (3,651 ) (218 ) 543 (19,977 ) (6,662 ) (120 ) 988 Net periodic benefit cost (adjusted for impact of PUC D&Os) $ 12,846 $ 11,813 $ 227 $ 326 $ 25,750 $ 23,643 $ 504 $ 655 Hawaiian Electric consolidated Service cost $ 16,148 $ 12,101 $ 1,080 $ 840 $ 32,131 $ 23,798 $ 1,935 $ 1,696 Interest cost 17,749 16,553 2,191 2,038 35,265 32,989 4,350 4,117 Expected return on plan assets (20,639 ) (18,158 ) (2,889 ) (2,707 ) (41,271 ) (36,329 ) (5,748 ) (5,370 ) Amortization of net prior service loss (gain) 10 16 (451 ) (451 ) 20 31 (902 ) (902 ) Amortization of net actuarial loss 8,592 4,669 455 — 16,686 9,229 877 — Net periodic benefit cost (credit) 21,860 15,181 386 (280 ) 42,831 29,718 512 (459 ) Impact of PUC D&Os (10,464 ) (3,651 ) (218 ) 543 (19,977 ) (6,662 ) (120 ) 988 Net periodic benefit cost (adjusted for impact of PUC D&Os) $ 11,396 $ 11,530 $ 168 $ 263 $ 22,854 $ 23,056 $ 392 $ 529

Share-based compensation (Table

Share-based compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [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 June 30 Six months ended June 30 (in millions) 2015 2014 2015 2014 HEI consolidated Share-based compensation expense 1 $ 2.0 $ 2.8 $ 3.8 $ 5.2 Income tax benefit 0.7 1.1 1.4 1.9 Hawaiian Electric consolidated Share-based compensation expense 1 0.7 0.9 1.2 1.6 Income tax benefit 0.3 0.3 0.5 0.6 1 $0.05 million and $0.03 million of this share-based compensation expense was capitalized in the second quarter of 2015 and 2014, respectively. $0.09 million and $0.07 million of this share-based compensation expense was capitalized in the six months ended June 30, 2015 and 2014 , respectively.
Schedule of nonemployee director stock award plan activity	HEI granted HEI common stock to nonemployee directors of HEI, Hawaiian Electric and ASB under the 2011 Director Plan as follows: Six months ended June 30 ($ in millions) 2015 2014 Shares granted 28,246 33,170 Fair value $ 0.8 $ 0.8 Income tax benefit 0.3 0.3
Schedule of stock appreciation rights by grant year	SARs activity and statistics were as follows: Three months ended June 30 Six months ended June 30 (dollars in thousands, except prices) 2015 2014 2015 2014 Shares underlying SARS exercised — — 80,000 — Weighted-average price of shares exercised $ — $ — $ 26.18 $ — Intrinsic value of shares exercised 1 — — 502 — Tax benefit realized for the deduction of exercises — — 82 — 1 Intrinsic value is the amount by which the fair market value of the underlying stock and the related dividend equivalent rights exceeds the exercise price of the right.
Schedule of restricted stock units	Information about HEI’s grants of restricted stock units was as follows: Three months ended June 30 Six months ended June 30 2015 2014 2015 2014 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 261,691 $ 28.33 332,158 $ 25.04 261,235 $ 25.77 288,151 $ 25.17 Granted 788 31.25 — — 85,082 33.72 115,036 25.19 Vested (832 ) 26.60 (67,832 ) 22.31 (80,051 ) 25.77 (138,861 ) 24.09 Forfeited (9,345 ) 28.36 — — (13,964 ) 27.52 — — Outstanding, end of period 252,302 $ 28.35 264,326 $ 25.74 252,302 $ 28.35 264,326 $ 25.74 Total weighted-average grant-date fair value of shares granted ($ millions) $ — $ — $ 2.9 $ 2.9 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.
Schedule of Long-Term Incentive Plan (LTIP) linked to total return to shareholders	Information about HEI’s LTIP grants linked to TRS was as follows: Three months ended June 30 Six months ended June 30 2015 2014 2015 2014 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 168,777 $ 27.63 258,243 $ 28.46 257,956 $ 28.45 232,127 $ 32.88 Granted (target level) — — 731 22.95 — — 97,524 22.95 Vested (issued or unissued and cancelled) — — — — (75,915 ) 30.71 (70,189 ) 35.46 Forfeited (5,354 ) 27.42 (1,018 ) 26.50 (18,618 ) 26.41 (1,506 ) 28.32 Outstanding, end of period 163,423 $ 27.63 257,956 $ 28.45 163,423 $ 27.63 257,956 $ 28.45 Total weighted-average grant-date fair value of shares granted ($ millions) $ — $ — $ — $ 2.2 (1) Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model.
Schedule of assumptions used to determine the fair value of Long-Term Incentive Plan (LTIP) linked to total return to shareholders (TRS)	The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TRS and the resulting fair value of LTIP awards granted: 2014 Risk-free interest rate 0.66 % Expected life in years 3 Expected volatility 17.8 % Range of expected volatility for Peer Group 12.4% to 23.3% Grant date fair value (per share) $ 22.95
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 June 30 Six months ended June 30 2015 2014 2015 2014 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 230,219 $ 26.00 360,070 $ 26.01 364,731 $ 26.01 296,843 $ 26.14 Granted (target level) — — 730 23.34 — — 129,603 25.18 Vested (issued) — — — — (121,249 ) 26.05 (65,089 ) 24.95 Forfeited (10,061 ) 26.02 (1,018 ) 25.81 (23,324 ) 25.85 (1,575 ) 26.07 Outstanding, end of period 220,158 $ 26.00 359,782 $ 26.01 220,158 $ 26.00 359,782 $ 26.01 Total weighted-average grant-date fair value of shares granted (at target performance levels) ($ millions) $ — $ — $ — $ 3.3 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.

Earnings per share and shareh35

Earnings per share and shareholders' equity (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Schedule of earnings per share	Under the two-class method of computing earnings per share (EPS), EPS was comprised as follows for both participating securities (i.e., restricted shares that became fully vested in the fourth quarter of 2014) and unrestricted common stock: Three months ended June 30, 2014 Six months ended June 30, 2014 Basic Diluted Basic Diluted Distributed earnings $ 0.31 $ 0.31 $ 0.62 $ 0.62 Undistributed earnings 0.10 0.10 0.24 0.23 $ 0.41 $ 0.41 $ 0.86 $ 0.85
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 losses on derivatives Retirement benefit plans AOCI AOCI -retirement benefit plans Balance, December 31, 2014 $ 462 $ (289 ) $ (27,551 ) $ (27,378 ) $ 45 Current period other comprehensive income (loss) (243 ) 118 1,056 931 7 Balance, June 30, 2015 $ 219 $ (171 ) $ (26,495 ) $ (26,447 ) $ 52 Balance, December 31, 2013 $ (3,663 ) $ (525 ) $ (12,562 ) $ (16,750 ) $ 608 Current period other comprehensive income 3,348 118 601 4,067 22 Balance, June 30, 2014 $ (315 ) $ (407 ) $ (11,961 ) $ (12,683 ) $ 630
Schedule of reclassifications out of accumulated other comprehensive income/(loss)	Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Three months ended Six months (in thousands) 2015 2014 2015 2014 Affected line item in the Statement of Income HEI consolidated Net realized gains on securities $ — $ — $ — $ (1,715 ) Revenues-bank (net gains on sales of securities) Derivatives qualified as cash flow hedges Interest rate contracts (settled in 2011) 59 59 118 118 Interest expense Retirement benefit plan items Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 5,780 2,873 11,239 5,686 See Note 6 for additional details Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets (5,272 ) (2,575 ) (10,183 ) (5,085 ) See Note 6 for additional details Total reclassifications $ 567 $ 357 $ 1,174 $ (996 ) Hawaiian Electric consolidated Retirement benefit plan items Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ 5,257 $ 2,588 $ 10,190 $ 5,107 See Note 6 for additional details Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets (5,272 ) (2,575 ) (10,183 ) (5,085 ) See Note 6 for additional details Total reclassifications $ (15 ) $ 13 $ 7 $ 22

Fair value measurements (Tables

Fair value measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of estimated fair values of certain of the Company's financial instruments	The following table presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments. For stock in Federal Home Loan Bank, the carrying amount is a reasonable estimate of fair value. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings and money market deposits, the carrying amount is a reasonable estimate of fair value as these liabilities have no stated maturity. Estimated fair value Carrying amount Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) (Level 1) (Level 2) (Level 3) Total June 30, 2015 Financial assets Money market funds $ 10 $ — $ 10 $ — $ 10 Available-for-sale investment securities 693,520 — 693,520 — 693,520 Stock in Federal Home Loan Bank 10,678 — 10,678 — 10,678 Loans receivable, net 4,416,398 — — 4,578,184 4,578,184 Derivative assets 454 2 452 — 454 Financial liabilities Deposit liabilities 4,803,271 — 4,802,813 — 4,802,813 Short-term borrowings—other than bank 124,543 — 124,543 — 124,543 The Utilities’ short-term borrowings (included in amount above) 88,993 — 88,993 — 88,993 Other bank borrowings 314,157 — 321,317 — 321,317 Long-term debt, net—other than bank 1,506,546 — 1,602,894 — 1,602,894 The Utilities’ long-term debt, net (included in amount above) 1,206,546 — 1,295,917 — 1,295,917 Derivative liabilities 15 — 15 — 15 December 31, 2014 Financial assets Money market funds $ 10 $ — $ 10 $ — $ 10 Available-for-sale investment securities 550,394 — 550,394 — 550,394 Stock in Federal Home Loan Bank 69,302 — 69,302 — 69,302 Loans receivable, net 4,397,457 — — 4,578,822 4,578,822 Derivative assets 398 — 398 — 398 Financial liabilities Deposit liabilities 4,623,415 — 4,623,773 — 4,623,773 Short-term borrowings—other than bank 118,972 — 118,972 — 118,972 Other bank borrowings 290,656 — 298,837 — 298,837 Long-term debt, net—other than bank 1,506,546 — 1,622,736 — 1,622,736 The Utilities’ long-term debt, net (included in amount above) 1,206,546 — 1,313,893 — 1,313,893 Derivative liabilities 114 71 43 — 114
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: June 30, 2015 December 31, 2014 Fair value measurements using Fair value measurements using (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Money market funds (“other” segment) $ — $ 10 $ — $ — $ 10 $ — Available-for-sale investment securities (bank segment) Mortgage-related securities-FNMA, FHLMC and GNMA $ — $ 525,061 $ — $ — $ 430,834 $ — U.S. Treasury and federal agency obligations — 168,459 — — 119,560 — $ — $ 693,520 $ — $ — $ 550,394 $ — Derivative assets 1 Interest rate lock commitments $ — $ 448 $ — $ — $ 393 $ — Forward commitments 2 4 — — 5 — $ 2 $ 452 $ — $ — $ 398 $ — Derivative liabilities 1 Interest rate lock commitments $ — $ 2 $ — $ — $ 3 $ — Forward commitments — 13 — 71 40 — $ — $ 15 $ — $ 71 $ 43 $ — 1 Derivatives are carried at fair value with changes in value reflected in the balance sheet in other assets or other liabilities and included in mortgage banking income.
Schedule of assets measured at fair value on a nonrecurring basis	Assets measured at fair value on a nonrecurring basis were as follows: Fair value measurements (in thousands) Balance Level 1 Level 2 Level 3 June 30, 2015 Loans $ 658 $ — $ — $ 658 December 31, 2014 Loans 2,445 — — 2,445 Real estate acquired in settlement of loans 288 — — 288
Schedule of significant unobservable inputs used in the fair value measurement	Key assumptions used in estimating the fair value of the bank’s mortgage servicing rights were as follows: (dollars in thousands) June 30, 2015 December 31, 2014 Unpaid principal balance $ 1,467,492 $ 1,391,030 Weighted average note rate 4.02 % 4.07 % Weighted average discount rate 9.5 % 9.6 % Weighted average prepayment speed 11.0 % 9.5 % The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis: Significant unobservable input value 1 ($ in thousands) Fair value Valuation technique Significant unobservable input Range Weighted Average June 30, 2015 Residential loans $ 658 Fair value of property or collateral Appraised value less 7% selling costs 31-91% 66% Total loans $ 658 December 31, 2014 Residential loans $ 2,297 Fair value of property or collateral Appraised value less 7% selling costs 39-99% 83% Home equity lines of credit 3 Fair value of property or collateral Appraised value less 7% selling costs 7% Commercial loans 145 Fair value of property or collateral Fair value of business assets 91% Total loans $ 2,445 Real estate acquired in settlement of loans $ 288 Fair value of property or collateral Appraised value less 7% selling cost 100% 100% 1 Represent percent of outstanding principal balance.

Cash flows (Tables)

Cash flows (Tables)	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental disclosures of cash and noncash activity	Six months ended June 30 2015 2014 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates $ 41 $ 44 Income taxes paid 35 22 Income taxes refunded 55 24 Hawaiian Electric consolidated Interest paid to non-affiliates 30 31 Income taxes paid 9 6 Income taxes refunded 12 8 Supplemental disclosures of noncash activities HEI consolidated Increases in common stock related to director and officer compensatory plans (financing) — 2 Real estate acquired in settlement of loans (investing) — 2 Real estate transferred from property, plant and equipment to other assets held-for-sale (investing) 5 — Obligations to fund low income housing investments (operating) — 8 HEI consolidated and Hawaiian Electric consolidated Additions to electric utility property, plant and equipment - unpaid invoices and other (investing) 53 28

Recent Accounting Pronounceme38

Recent Accounting Pronouncements (Tables)	6 Months Ended
	Jun. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Schedule of new accounting pronouncements and changes in accounting principles	The table below summarizes the impact to prior period financial statements of the adoption of ASU No. 2014-01: HEI Consolidated ASB (in thousands) As previously filed Adjustment from adoption of ASU No. 2014-01 As currently reported As previously filed Adjustment from adoption of ASU No. 2014-01 As currently reported HEI Consolidated Income Statement/ASB Statement of Income Data Three months ended June 30, 2014 Bank expenses/Noninterest expense $ 43,568 $ (908 ) $ 42,660 $ 39,890 $ (908 ) $ 38,982 Bank operating income/Income before income taxes $ 17,048 $ 908 $ 17,956 $ 17,048 $ 908 $ 17,956 Income taxes $ 22,269 $ 1,048 $ 23,317 $ 5,372 $ 1,048 $ 6,420 Net income for common stock/Net income $ 41,421 $ (140 ) $ 41,281 $ 11,676 $ (140 ) $ 11,536 Six months ended June 30, 2014 Bank expenses/Noninterest expense $ 85,564 $ (1,816 ) $ 83,748 $ 78,260 $ (1,816 ) $ 76,444 Bank operating income/Income before income taxes $ 38,671 $ 1,816 $ 40,487 $ 38,672 $ 1,816 $ 40,488 Income taxes $ 46,942 $ 2,096 $ 49,038 $ 12,457 $ 2,096 $ 14,553 Net income for common stock/Net income $ 87,348 $ (280 ) $ 87,068 $ 26,215 $ (280 ) $ 25,935 HEI Consolidated Balance Sheet/ASB Balance Sheet Data December 31, 2014 Other assets $ 541,542 $ 981 $ 542,523 $ 304,435 $ 981 $ 305,416 Total assets and Total liabilities and shareholders’ equity $ 11,184,161 $ 981 $ 11,185,142 $ 5,565,241 $ 981 $ 5,566,222 Deferred income taxes/Other liabilities $ 631,734 $ 1,836 $ 633,570 $ 116,527 $ 1,836 $ 118,363 Total liabilities $ 9,358,440 $ 1,836 $ 9,360,276 $ 5,030,598 $ 1,836 $ 5,032,434 Retained earnings $ 297,509 $ (855 ) $ 296,654 $ 212,789 $ (855 ) $ 211,934 Total shareholders’ equity $ 1,791,428 $ (855 ) $ 1,790,573 $ 534,643 $ (855 ) $ 533,788 HEI Consolidated Statement of Changes in Stockholders’ Equity December 31, 2013 Retained earnings $ 255,694 $ (664 ) $ 255,030 Total shareholders’ equity $ 1,727,070 $ (664 ) $ 1,726,406

Proposed Merger (Details)

Proposed Merger (Details)	Aug. 07, 2015	Dec. 03, 2014USD ($)$ / sharesshares	Jul. 31, 2015intervener	Jan. 31, 2015USD ($)	Mar. 31, 2015complaint	Apr. 30, 2015action
Business Acquisition [Line Items]
Number of purported class action complaints filed | complaint					8
NextEra Energy, Inc Merger
Business Acquisition [Line Items]
Merger share conversion ratio | shares		0.2413
Minimum percentage of shares from which holders approval needed for merger		75.00%
Merger agreement contract extension		6 months
Merger contract termination fee | $		$ 90,000,000
Maximum expenses paid to party for cancellation of merger | $		$ 5,000,000
Minimum period that entity agrees not to submit applications for general base rate increase				4 years
Approximate amount of cumulative savings for customers due to forgone recoveries | $				$ 60,000,000
NextEra Energy, Inc Merger | Subsequent Event
Business Acquisition [Line Items]
Regulatory waiting period	30 days
Number of interveners			28
Number of interveners who opposed			11
Number of interveners opposed who approved conditionally			11
Number of interveners who made no recommendation			6
Hawaiian Electric Company, Inc. and Subsidiaries | NextEra Energy, Inc Merger
Business Acquisition [Line Items]
Special dividend | $ / shares		$ 0.50
In re Consolidated HEI Shareholder Cases
Business Acquisition [Line Items]
Consolidated number of state actions | action						7

Segment financial information40

Segment financial information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment financial information
Total revenues	$ 623,912	$ 798,657	$ 1,261,774	$ 1,582,406
Income (loss) before income taxes	56,402	65,071	108,720	137,052
Income taxes (benefit)	20,911	23,317	40,890	49,038
Net income	35,491	41,754	67,830	88,014
Preferred stock dividends of subsidiaries	473	473	946	946
Net income for common stock	35,018	41,281	66,884	87,068
Assets	11,439,631		11,439,631		$ 11,185,142
Electric utility
Segment financial information
Total revenues	558,163	738,429	1,131,605	1,458,491
Income (loss) before income taxes	52,451	55,126	95,674	112,292
Income taxes (benefit)	19,111	20,397	34,961	41,644
Net income	33,340	34,729	60,713	70,648
Preferred stock dividends of subsidiaries	499	499	998	998
Net income for common stock	32,841	34,230	59,715	69,650
Assets	5,634,307		5,634,307		5,590,457
Bank
Segment financial information
Total revenues	65,783	60,616	130,131	124,235
Income (loss) before income taxes	19,726	17,956	40,357	40,488
Income taxes (benefit)	6,875	6,420	14,031	14,553
Net income	12,851	11,536	26,326	25,935
Net income for common stock	12,851	11,536	26,326	25,935
Assets	5,777,098		5,777,098		5,566,222
Other
Segment financial information
Total revenues	(34)	(388)	38	(320)
Income (loss) before income taxes	(15,775)	(8,011)	(27,311)	(15,728)
Income taxes (benefit)	(5,075)	(3,500)	(8,102)	(7,159)
Net income	(10,700)	(4,511)	(19,209)	(8,569)
Preferred stock dividends of subsidiaries	(26)	(26)	(52)	(52)
Net income for common stock	(10,674)	(4,485)	(19,157)	(8,517)
Assets	28,226		28,226		$ 28,463
Revenues from external customers
Segment financial information
Total revenues	623,912	798,657	1,261,774	1,582,406
Revenues from external customers | Electric utility
Segment financial information
Total revenues	558,156	738,423	1,131,587	1,458,479
Revenues from external customers | Bank
Segment financial information
Total revenues	65,783	60,616	130,131	124,235
Revenues from external customers | Other
Segment financial information
Total revenues	(27)	(382)	56	(308)
Intersegment revenues (eliminations) | Electric utility
Segment financial information
Total revenues	7	6	18	12
Intersegment revenues (eliminations) | Other
Segment financial information
Total revenues	$ (7)	$ (6)	$ (18)	$ (12)

Electric utility subsidiary - T

Electric utility subsidiary - Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Hawaiian Electric Company, Inc. and Subsidiaries
Revenue taxes
Electric Utility Revenue Taxes Included in Operating Revenues and in Taxes Other than Income Taxes Expense	$ 50	$ 64	$ 101	$ 129

Electric utility subsidiary - U

Electric utility subsidiary - Unconsolidated variable interest entities (Details) $ in Thousands	1 Months Ended			3 Months Ended		6 Months Ended
	Oct. 31, 2004MW	Mar. 31, 2004USD ($)security	Oct. 31, 1988MW	Jun. 30, 2015USD ($)entity	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)agreementkWentity	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Power purchase agreement
Purchases from IPPs				$ 149,000	$ 188,000	$ 285,000	$ 353,000
Accounts payable				$ 183,094		$ 183,094		$ 186,425
Hawaiian Electric Company
Power purchase agreement
Number of power purchase agreements (PPAs) | agreement						6
Maximum capacity of small power production facilities (in kilowatts) | kW						100
Number of entities currently not required to be consolidated as VIEs | entity				0		0
Percentage of power purchase from AES Hawaii, Inc. (AES Hawaii), Kalaeloa Partners, L.P. (Kalaeloa), Hamakua Energy Partners, L.P. (HEP) and HPOWER						90.00%
Purchases from IPPs				$ 107,370	140,805	$ 210,620	264,774
Number of firm capacity producers declining to provide financial information to determine primary beneficiary status | entity						2
Minimum potential number of IPP entities consolidated into company in the future | entity						1
Hawaiian Electric Company | AES Hawaii, Inc. (AES Hawaii)
Power purchase agreement
Purchases from IPPs				26,000	36,000	$ 60,000	69,000
Hawaiian Electric Company | Kalaeloa Partners, L.P. (Kalaeloa)
Power purchase agreement
Purchases from IPPs				48,000	74,000	92,000	141,000
Power purchase capacity that Increases from initial capacity (in megawatts) | MW			180
Number of years entity entered under power purchase agreement			25 years
Power purchase capacity that Increases from initial capacity (in megawatts) | MW	208
Accounts payable				14,000		14,000
Hawaiian Electric Company | Hamakua Energy Partners, L.P. (HEP)
Power purchase agreement
Purchases from IPPs				10,000	8,000	21,000	20,000
Hawaiian Electric Company | HPOWER
Power purchase agreement
Purchases from IPPs				16,000	16,000	32,000	32,000
Hawaiian Electric Company | Other IPPs
Power purchase agreement
Purchases from IPPs				49,000	54,000	80,000	91,000
Hawaii Electric Light Company, Inc. (HELCO)
Power purchase agreement
Purchases from IPPs				24,555	28,170	46,448	57,661
Maui Electric
Power purchase agreement
Purchases from IPPs				17,359	$ 19,348	28,223	30,804
HECO Capital Trust III
Unconsolidated variable interest entities
Investment in 2004 Debentures				51,500		51,500		51,500
Interest income						1,700	1,700
HECO Capital Trust III | Hawaiian Electric Company
Unconsolidated variable interest entities
Principal amount of 2004 Debentures		$ 31,500
HECO Capital Trust III | Hawaiian Electric Company | 2004 Trust Preferred Securities
Unconsolidated variable interest entities
Number of 2004 Trust Preferred Securities issued | security		2,000,000
Dividend rate on 2004 Trust Preferred Securities (as a percent)		6.50%
Aggregate Liquidation preference		$ 50,000
Balance of Trust Securities				50,000		50,000		50,000
Dividend distributions on Trust Preferred Securities						1,600	1,600
HECO Capital Trust III | Hawaiian Electric Company | Trust Common Securities
Unconsolidated variable interest entities
Aggregate Liquidation preference		1,500
Balance of Trust Securities				$ 1,500		1,500		$ 1,500
Common dividend						$ 50	$ 100
HECO Capital Trust III | Hawaii Electric Light Company, Inc. (HELCO)
Unconsolidated variable interest entities
Principal amount of 2004 Debentures		10,000
HECO Capital Trust III | Maui Electric
Unconsolidated variable interest entities
Principal amount of 2004 Debentures		$ 10,000

Electric utility subsidiary - C

Electric utility subsidiary - Commitments and contingencies (Details)

Jun. 18, 2015

May. 28, 2015USD ($)kWh

Apr. 15, 2015USD ($)

Mar. 31, 2015USD ($)

Mar. 23, 2015

Jan. 20, 2015

Dec. 19, 2014memorandum

May. 31, 2013

Feb. 16, 2012generation_unit

Jun. 30, 2015USD ($)MW

Aug. 31, 2014

Apr. 30, 2014order

Aug. 31, 2012MW

Mar. 31, 1988MW

Jun. 30, 2015USD ($)

Jun. 30, 2014USD ($)

Dec. 31, 2014USD ($)

Mar. 01, 2014

Feb. 07, 2014

Mar. 31, 2012USD ($)

Regulatory projects and legal obligations

Purchase commitment, period

30 years

Long-term Purchase Commitment, Minimum Power Volume Required | MW

186

180

Environmental regulation

Number of EGUs impacted by proposed rules of MATS | generation_unit

14

Period for which operations was stopped prior to merger

4 years

Number of memoranda issued | memorandum

2

Decrease in GHG emission level regulatory requirements

16.00%

Changes in the asset retirement obligation liability

Number of orders from regulatory agency | order

4

Percent of energy production from renewable energy sources

65.00%

Requested approval period for motion

60 days

Public Utilities, Phase-in Plans [Abstract]

Annual incremental RAM adjusted revenues

$ 11,100,000

$ 26,200,000

$ 31,600,000

Net annual incremental amount to be collected under the tariffs

400,000

$ 14,700,000

Long Term Purchase Commitment, Additional Capacity Requirement | MW

9

Hawaiian Electric Company

Environmental regulation

Period of extension resulting in MATS compliance date

1 year

Public Utilities, Phase-in Plans [Abstract]

Annual incremental RAM adjusted revenues

8,100,000

Annual change in accrued earnings sharing credits to be refunded

0

Annual change in accrued RBA balance as of December 31, 2014 (and associated revenue taxes) to be collected

(9,200,000)

Net annual incremental amount to be collected under the tariffs

(1,100,000)

Impact on typical residential customer monthly bill

$ (90,000)

Monthly utility usage assumption (in kilowatts per hour) | kWh

500

Lanai and Molokai [Member]

Public Utilities, Phase-in Plans [Abstract]

Impact on typical residential customer monthly bill

$ 0.11

Monthly utility usage assumption (in kilowatts per hour) | kWh

400

Hawaii Electric Light Company, Inc. (HELCO)

Public Utilities, Phase-in Plans [Abstract]

Annual incremental RAM adjusted revenues

$ 1,500,000

Annual change in accrued earnings sharing credits to be refunded

0

Annual change in accrued RBA balance as of December 31, 2014 (and associated revenue taxes) to be collected

100,000

Net annual incremental amount to be collected under the tariffs

1,500,000

Impact on typical residential customer monthly bill

$ 880,000

Monthly utility usage assumption (in kilowatts per hour) | kWh

500

Maui Electric

Environmental regulation

Additional accrued investigation and estimated cleanup costs

$ 3,600,000

$ 3,600,000

$ 3,100,000

Public Utilities, Phase-in Plans [Abstract]

Annual incremental RAM adjusted revenues

$ 1,500,000

Annual change in accrued earnings sharing credits to be refunded

(100,000)

Annual change in accrued RBA balance as of December 31, 2014 (and associated revenue taxes) to be collected

(2,200,000)

Net annual incremental amount to be collected under the tariffs

(800,000)

Impact on typical residential customer monthly bill

$ (130,000)

Hawaiian Electric Company, Inc. and Subsidiaries

Environmental regulation

Percentage of reduction in GHG emissions by 2020

16.00%

16.00%

Estimated annual fee for greenhouse gas emissions

$ 500,000

Impact on earnings from recognition of AROs

0

Changes in the asset retirement obligation liability

Balance, beginning of period

29,419,000

$ 43,106,000

Accretion expense

12,000

643,000

Liabilities incurred

0

0

Liabilities settled

(1,881,000)

(6,052,000)

Revisions in estimated cash flows

0

0

Balance, end of period

$ 27,550,000

$ 27,550,000

$ 37,697,000

Decoupling implementation experience, period

3 years

Proposed rate base adjustment, percent of previous rate base adjustment

90.00%

Effective interest rate, revenue balancing account

6.00%

Period to file required plan

120 days

Period to file implementation plan

60 days

Period for full implementation of plan

180 days

Period to file action plan

30 days

Proposal to file implementation proposal

120 days

Period to file demand response portfolio plan

90 days

Minimum | Hawaiian Electric Company, Inc. and Subsidiaries

Changes in the asset retirement obligation liability

Proposed effective interest rate, revenue balancing account

1.25%

Maximum | Hawaiian Electric Company, Inc. and Subsidiaries

Changes in the asset retirement obligation liability

Proposed effective interest rate, revenue balancing account

3.25%

Reserve for Environmental Costs

Environmental regulation

Additional reserve for investigation

$ 800,000

PCB Contamination | Waiau Power Plant

Environmental regulation

Period for submissions to EPA

45 days

Electric utility subsidiary - L

Electric utility subsidiary - Liquefied natural gas (Details) - May. 31, 2015 - t	Total
Electric utility subsidiary [Abstract]
Liquefaction capacity purchases, year one	700,000
Purchase agreement, period of first tranche	5 years
Purchase agreement, period of second tranche	5 years
Purchase agreement, period of third tranche	10 years
Liquefaction capacity purchases, year two	700,000
Liquefaction capacity purchases, year three	700,000
Liquefaction capacity purchases, year four	700,000
Liquefaction capacity purchases, year five	700,000
Liquefaction capacity purchases, year six	600,000
Liquefaction capacity purchases, year seven	600,000
Liquefaction capacity purchases, year eight	600,000
Liquefaction capacity purchases, year nine	600,000
Liquefaction capacity purchases, year ten	600,000
Liquefaction capacity purchases, year eleven	500,000
Liquefaction capacity purchases, year twelve	500,000
Liquefaction capacity purchases, year thirteen	500,000
Liquefaction capacity purchases, year fourteen	500,000
Liquefaction capacity purchases, year fifteen	500,000
Purchase Agreement, Annual Capacity Purchases, Year Sixteen	500,000
Purchase Agreement, Annual Capacity Purchases, Year Seventeen	500,000
Purchase Agreement, Annual Capacity Purchases, Year Eighteen	500,000
Purchase Agreement, Annual Capacity Purchases, Year Nineteen	500,000
Purchase Agreement, Annual Capacity Purchases, Year Twenty	500,000

Electric utility subsidiary -45

Electric utility subsidiary - Consolidating statement of income (unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Operating expenses
Purchased power	$ 149,000	$ 188,000	$ 285,000	$ 353,000
Total expenses	551,182	715,474	1,119,538	1,410,009
Operating income	72,730	83,183	142,236	172,397
Other income (loss)
Allowance for equity funds used during construction	1,896	1,387	3,309	2,996
Interest and other charges
Allowance for borrowed funds used during construction	682	523	1,181	1,137
Income taxes	20,911	23,317	40,890	49,038
Net income	35,491	41,754	67,830	88,014
Preferred stock dividends of subsidiaries	473	473	946	946
Net income for common stock	35,018	41,281	66,884	87,068
Hawaiian Electric Company
Condensed Income Statements, Captions [Line Items]
Revenues	391,007	530,991	790,748	1,043,446
Operating expenses
Fuel oil	104,278	195,549	222,681	399,096
Purchased power	107,370	140,805	210,620	264,774
Other operation and maintenance	66,428	68,992	136,512	127,507
Depreciation	29,389	27,300	58,778	54,601
Taxes, other than income taxes	37,479	49,949	75,680	98,133
Total expenses	344,944	482,595	704,271	944,111
Operating income	46,063	48,396	86,477	99,335
Other income (loss)
Allowance for equity funds used during construction	1,581	1,417	2,704	2,889
Equity in earnings of subsidiaries	9,624	9,859	17,316	18,776
Interest and other charges
Interest expense and other charges, net	(11,290)	(11,553)	(22,528)	(22,040)
Allowance for borrowed funds used during construction	564	535	952	1,094
Income before income taxes	46,542	48,654	84,921	100,054
Income taxes	13,431	14,154	24,666	29,864
Net income	33,111	34,500	60,255	70,190
Net income attributable to Hawaiian Electric	33,111	34,500	60,255	70,190
Preferred stock dividends of Hawaiian Electric	270	270	540	540
Net income for common stock	32,841	34,230	59,715	69,650
HELCO
Condensed Income Statements, Captions [Line Items]
Revenues	83,732	103,544	171,787	208,475
Operating expenses
Fuel oil	16,241	31,179	39,626	62,679
Purchased power	24,555	28,170	46,448	57,661
Other operation and maintenance	16,158	14,817	32,557	28,864
Depreciation	9,312	8,976	18,625	17,951
Taxes, other than income taxes	7,944	9,757	16,328	19,520
Total expenses	74,210	92,899	153,584	186,675
Operating income	9,522	10,645	18,203	21,800
Other income (loss)
Allowance for equity funds used during construction	165	121	310	186
Interest and other charges
Interest expense and other charges, net	(2,592)	(2,852)	(5,272)	(5,600)
Allowance for borrowed funds used during construction	58	47	111	72
Income before income taxes	7,153	7,961	13,352	16,458
Income taxes	2,536	2,982	4,813	6,184
Net income	4,617	4,979	8,539	10,274
Preferred stock dividends of subsidiaries	133	133	267	267
Net income attributable to Hawaiian Electric	4,484	4,846	8,272	10,007
Net income for common stock	4,484	4,846	8,272	10,007
Maui Electric
Condensed Income Statements, Captions [Line Items]
Revenues	83,442	103,916	169,116	206,609
Operating expenses
Fuel oil	25,712	43,529	60,730	94,782
Purchased power	17,359	19,348	28,223	30,804
Other operation and maintenance	16,278	14,755	33,797	30,799
Depreciation	5,540	5,317	11,081	10,644
Taxes, other than income taxes	7,959	9,918	16,122	19,942
Total expenses	72,848	92,867	149,953	186,971
Operating income	10,594	11,049	19,163	19,638
Other income (loss)
Allowance for equity funds used during construction	150	(151)	295	(79)
Interest and other charges
Interest expense and other charges, net	(2,424)	(2,469)	(4,859)	(4,974)
Allowance for borrowed funds used during construction	60	(59)	118	(29)
Income before income taxes	8,380	8,370	14,717	14,556
Income taxes	3,144	3,261	5,482	5,596
Net income	5,236	5,109	9,235	8,960
Preferred stock dividends of subsidiaries	96	96	191	191
Net income attributable to Hawaiian Electric	5,140	5,013	9,044	8,769
Net income for common stock	5,140	5,013	9,044	8,769
Other subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenues	0	0	0	0
Operating expenses
Other operation and maintenance	0	0	0	0
Total expenses	0	0	0	0
Operating income	0	0	0	0
Interest and other charges
Income before income taxes	0	0	0	0
Income taxes	0	0	0	0
Net income	0	0	0	0
Net income attributable to Hawaiian Electric	0	0	0	0
Net income for common stock	0	0	0	0
Consolidating adjustments
Condensed Income Statements, Captions [Line Items]
Revenues	(18)	(22)	(46)	(39)
Operating expenses
Operating income	(18)	(22)	(46)	(39)
Other income (loss)
Equity in earnings of subsidiaries	(9,624)	(9,859)	(17,316)	(18,776)
Interest and other charges
Interest expense and other charges, net	18	22	46	39
Income before income taxes	(9,624)	(9,859)	(17,316)	(18,776)
Income taxes	0	0	0	0
Net income	(9,624)	(9,859)	(17,316)	(18,776)
Net income attributable to Hawaiian Electric	(9,624)	(9,859)	(17,316)	(18,776)
Net income for common stock	(9,624)	(9,859)	(17,316)	(18,776)
HECO Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	558,163	738,429	1,131,605	1,458,491
Operating expenses
Fuel oil	146,231	270,257	323,037	556,557
Purchased power	149,284	188,323	285,291	353,239
Other operation and maintenance	98,864	98,564	202,866	187,170
Depreciation	44,241	41,593	88,484	83,196
Taxes, other than income taxes	53,382	69,624	108,130	137,595
Total expenses	492,002	668,361	1,007,808	1,317,757
Operating income	66,161	70,068	123,797	140,734
Other income (loss)
Allowance for equity funds used during construction	1,896	1,387	3,309	2,996
Interest and other charges
Interest expense and other charges, net	(16,288)	(16,852)	(32,613)	(32,575)
Allowance for borrowed funds used during construction	682	523	1,181	1,137
Income before income taxes	52,451	55,126	95,674	112,292
Income taxes	19,111	20,397	34,961	41,644
Net income	33,340	34,729	60,713	70,648
Preferred stock dividends of subsidiaries	229	229	458	458
Net income attributable to Hawaiian Electric	33,111	34,500	60,255	70,190
Preferred stock dividends of Hawaiian Electric	270	270	540	540
Net income for common stock	$ 32,841	$ 34,230	$ 59,715	$ 69,650

Electric utility subsidiary -46

Electric utility subsidiary - Consolidating statement of comprehensive income (loss) (unaudited) (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Statement of Income Captions [Line Items]
Net income for common stock	$ 35,018	$ 41,281	$ 66,884	$ 87,068
Retirement benefit plans:
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $3,349, $1,647, $6,490 and $3,252 for the respective periods	5,780	2,873	11,239	5,686
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $3,359, $1,641, $6,486 and $3,239 for the respective periods	(5,272)	(2,575)	(10,183)	(5,085)
Other comprehensive income (loss), net of taxes	(3,127)	2,900	931	4,067
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	31,891	44,181	67,815	91,135
Hawaiian Electric Company
Condensed Statement of Income Captions [Line Items]
Net income for common stock	32,841	34,230	59,715	69,650
Retirement benefit plans:
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $3,349, $1,647, $6,490 and $3,252 for the respective periods	5,257	2,588	10,190	5,107
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $3,359, $1,641, $6,486 and $3,239 for the respective periods	(5,272)	(2,575)	(10,183)	(5,085)
Other comprehensive income (loss), net of taxes	(15)	13	7	22
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	32,826	34,243	59,722	69,672
HELCO
Condensed Statement of Income Captions [Line Items]
Net income for common stock	4,484	4,846	8,272	10,007
Retirement benefit plans:
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $3,349, $1,647, $6,490 and $3,252 for the respective periods	713	292	1,364	636
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $3,359, $1,641, $6,486 and $3,239 for the respective periods	(716)	(292)	(1,367)	(636)
Other comprehensive income (loss), net of taxes	(3)	0	(3)	0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	4,481	4,846	8,269	10,007
Maui Electric
Condensed Statement of Income Captions [Line Items]
Net income for common stock	5,140	5,013	9,044	8,769
Retirement benefit plans:
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $3,349, $1,647, $6,490 and $3,252 for the respective periods	652	292	1,252	545
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $3,359, $1,641, $6,486 and $3,239 for the respective periods	(655)	(292)	(1,255)	(545)
Other comprehensive income (loss), net of taxes	(3)	0	(3)	0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	5,137	5,013	9,041	8,769
Other subsidiaries
Condensed Statement of Income Captions [Line Items]
Net income for common stock	0	0	0	0
Retirement benefit plans:
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $3,349, $1,647, $6,490 and $3,252 for the respective periods	0	0	0	0
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $3,359, $1,641, $6,486 and $3,239 for the respective periods	0	0	0	0
Other comprehensive income (loss), net of taxes	0	0	0	0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	0	0	0	0
Consolidating adjustments
Condensed Statement of Income Captions [Line Items]
Net income for common stock	(9,624)	(9,859)	(17,316)	(18,776)
Retirement benefit plans:
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $3,349, $1,647, $6,490 and $3,252 for the respective periods	(1,365)	(584)	(2,616)	(1,181)
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $3,359, $1,641, $6,486 and $3,239 for the respective periods	1,371	584	2,622	1,181
Other comprehensive income (loss), net of taxes	6	0	6	0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	(9,618)	(9,859)	(17,310)	(18,776)
HECO Consolidated
Condensed Statement of Income Captions [Line Items]
Net income for common stock	32,841	34,230	59,715	69,650
Retirement benefit plans:
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $3,349, $1,647, $6,490 and $3,252 for the respective periods	5,257	2,588	10,190	5,107
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes of $3,359, $1,641, $6,486 and $3,239 for the respective periods	(5,272)	(2,575)	(10,183)	(5,085)
Other comprehensive income (loss), net of taxes	(15)	13	7	22
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 32,826	$ 34,243	$ 59,722	$ 69,672

Electric utility subsidiary -47

Electric utility subsidiary - Consolidating balance sheet (unaudited) (Details 3) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Utility plant, at cost
Total property, plant and equipment, net	$ 4,269,241	$ 4,148,774
Other long-term assets
Total assets	11,439,631	11,185,142
Capitalization
Common stock equity	1,898,520	1,790,573	$ 1,759,935	$ 1,726,406
Cumulative preferred stock — not subject to mandatory redemption	0	0
Current liabilities
Interest and preferred dividends payable	25,360	25,336
Deferred credits and other liabilities
Deferred income taxes	632,718	633,570
Contributions in aid of construction	482,760	466,432
Total liabilities and shareholders’ equity	11,439,631	11,185,142
Hawaiian Electric Company
Utility plant, at cost
Land	43,542	43,819
Plant and equipment	3,889,544	3,782,438
Less accumulated depreciation	(1,275,328)	(1,253,866)
Construction in progress	162,872	134,376
Utility property, plant and equipment, net	2,820,630	2,706,767
Nonutility property, plant and equipment, less accumulated depreciation	4,949	4,950
Total property, plant and equipment, net	2,825,579	2,711,717
Investment in wholly owned subsidiaries, at equity	543,351	538,639
Current assets
Cash and cash equivalents	3,393	12,416	8,106	61,245
Advances to affiliates	18,200	16,100
Customer accounts receivable, net	95,975	111,462
Accrued unbilled revenues, net	80,165	103,072
Other accounts receivable, net	11,816	9,980
Fuel oil stock, at average cost	85,710	74,515
Materials and supplies, at average cost	32,857	33,154
Prepayments and other	23,986	44,680
Regulatory assets	82,751	58,550
Total current assets	434,853	463,929
Other long-term assets
Regulatory assets	601,012	623,784
Unamortized debt expense	5,397	5,640
Other	52,211	53,106
Total other long-term assets	658,620	682,530
Total assets	4,462,403	4,396,815
Capitalization
Common stock equity	1,696,658	1,682,144	1,618,987	1,593,564
Cumulative preferred stock — not subject to mandatory redemption	22,293	22,293
Long-term debt, net	830,546	830,546
Total capitalization	2,549,497	2,534,983
Current liabilities
Short-term borrowings from non-affiliates	88,993
Short-term borrowings from affiliate	0	0
Accounts payable	113,360	122,433
Interest and preferred dividends payable	15,435	15,407
Taxes accrued	130,919	176,339
Regulatory liabilities	286	191
Other	51,946	48,282
Total current liabilities	400,939	362,652
Deferred credits and other liabilities
Deferred income taxes	428,866	429,515
Regulatory liabilities	245,038	236,727
Unamortized tax credits	53,632	49,865
Defined benefit pension and other postretirement benefit plans liability	436,946	446,888
Other	47,777	52,446
Total deferred credits and other liabilities	1,212,259	1,215,441
Contributions in aid of construction	299,708	283,739
Total liabilities and shareholders’ equity	4,462,403	4,396,815
HELCO
Utility plant, at cost
Land	5,464	5,464
Plant and equipment	1,187,999	1,179,032
Less accumulated depreciation	(484,930)	(473,933)
Construction in progress	18,754	12,421
Utility property, plant and equipment, net	727,287	722,984
Nonutility property, plant and equipment, less accumulated depreciation	82	82
Total property, plant and equipment, net	727,369	723,066
Current assets
Cash and cash equivalents	801	612	1,754	1,326
Advances to affiliates	0	0
Customer accounts receivable, net	23,981	24,222
Accrued unbilled revenues, net	13,772	15,926
Other accounts receivable, net	2,009	981
Fuel oil stock, at average cost	8,350	13,800
Materials and supplies, at average cost	7,172	6,664
Prepayments and other	3,345	8,611
Regulatory assets	8,829	6,745
Total current assets	68,259	77,561
Other long-term assets
Regulatory assets	105,093	107,454
Unamortized debt expense	1,353	1,438
Other	15,303	15,366
Total other long-term assets	121,749	124,258
Total assets	917,377	924,885
Capitalization
Common stock equity	285,104	281,846	278,995	274,802
Cumulative preferred stock — not subject to mandatory redemption	7,000	7,000
Long-term debt, net	190,000	190,000
Total capitalization	482,104	478,846
Current liabilities
Current portion of long-term debt	0
Short-term borrowings from affiliate	13,000	10,500
Accounts payable	16,479	23,728
Interest and preferred dividends payable	3,962	3,989
Taxes accrued	29,577	37,548
Regulatory liabilities	0	0
Other	9,237	9,866
Total current liabilities	72,255	85,631
Deferred credits and other liabilities
Deferred income taxes	91,220	90,119
Regulatory liabilities	81,195	77,707
Unamortized tax credits	15,290	14,902
Defined benefit pension and other postretirement benefit plans liability	67,802	72,547
Other	13,142	10,658
Total deferred credits and other liabilities	268,649	265,933
Contributions in aid of construction	94,369	94,475
Total liabilities and shareholders’ equity	917,377	924,885
Maui Electric
Utility plant, at cost
Land	3,016	3,016
Plant and equipment	1,064,686	1,048,012
Less accumulated depreciation	(458,445)	(447,711)
Construction in progress	14,729	11,819
Utility property, plant and equipment, net	623,986	615,136
Nonutility property, plant and equipment, less accumulated depreciation	1,531	1,531
Total property, plant and equipment, net	625,517	616,667
Current assets
Cash and cash equivalents	175	633	2,759	153
Customer accounts receivable, net	19,966	22,800
Accrued unbilled revenues, net	15,507	18,376
Other accounts receivable, net	2,703	2,246
Fuel oil stock, at average cost	14,348	17,731
Materials and supplies, at average cost	17,326	17,432
Prepayments and other	8,882	13,567
Regulatory assets	7,656	6,126
Total current assets	86,563	98,911
Other long-term assets
Regulatory assets	99,218	102,788
Unamortized debt expense	1,150	1,245
Other	14,418	13,366
Total other long-term assets	114,786	117,399
Total assets	826,866	832,977
Capitalization
Common stock equity	258,146	256,692	250,365	248,771
Cumulative preferred stock — not subject to mandatory redemption	5,000	5,000
Long-term debt, net	186,000	186,000
Total capitalization	449,146	447,692
Current liabilities
Short-term borrowings from affiliate	5,200	5,600
Accounts payable	17,911	17,773
Interest and preferred dividends payable	2,976	2,931
Taxes accrued	28,408	36,807
Regulatory liabilities	477	441
Other	15,834	16,094
Total current liabilities	70,806	79,646
Deferred credits and other liabilities
Deferred income taxes	85,616	83,238
Regulatory liabilities	30,093	29,966
Unamortized tax credits	14,971	14,725
Defined benefit pension and other postretirement benefit plans liability	73,889	75,960
Other	13,662	13,532
Total deferred credits and other liabilities	218,231	217,421
Contributions in aid of construction	88,683	88,218
Total liabilities and shareholders’ equity	826,866	832,977
Other subsidiaries
Current assets
Cash and cash equivalents	101	101	101	101
Total current assets	101	101
Other long-term assets
Total assets	101	101
Capitalization
Common stock equity	101	101	101	101
Total capitalization	101	101
Deferred credits and other liabilities
Total liabilities and shareholders’ equity	101	101
Consolidating adjustments
Utility plant, at cost
Investment in wholly owned subsidiaries, at equity	(543,351)	(538,639)
Current assets
Cash and cash equivalents	0	0	0	0
Advances to affiliates	(18,200)	(16,100)
Other accounts receivable, net	(10,638)	(8,924)
Prepayments and other	(251)	(475)
Total current assets	(29,089)	(25,499)
Other long-term assets
Regulatory assets	0	(183)
Total other long-term assets	0	(183)
Total assets	(572,440)	(564,321)
Capitalization
Common stock equity	(543,351)	(538,639)	(529,461)	(523,674)
Total capitalization	(543,351)	(538,639)
Current liabilities
Short-term borrowings from affiliate	(18,200)	(16,100)
Interest and preferred dividends payable	(6)	(11)
Taxes accrued	(251)	(292)
Regulatory liabilities	0	0
Other	(10,632)	(9,096)
Total current liabilities	(29,089)	(25,499)
Deferred credits and other liabilities
Regulatory liabilities	0	(183)
Total deferred credits and other liabilities	0	(183)
Total liabilities and shareholders’ equity	(572,440)	(564,321)
HECO Consolidated
Utility plant, at cost
Land	52,022	52,299
Plant and equipment	6,142,229	6,009,482
Less accumulated depreciation	(2,218,703)	(2,175,510)
Construction in progress	196,355	158,616
Utility property, plant and equipment, net	4,171,903	4,044,887
Nonutility property, plant and equipment, less accumulated depreciation	6,562	6,563
Total property, plant and equipment, net	4,178,465	4,051,450
Current assets
Cash and cash equivalents	4,470	13,762	12,720	62,825
Customer accounts receivable, net	139,922	158,484
Accrued unbilled revenues, net	109,444	137,374
Other accounts receivable, net	5,890	4,283
Fuel oil stock, at average cost	108,408	106,046
Materials and supplies, at average cost	57,355	57,250
Prepayments and other	35,962	66,383
Regulatory assets	99,236	71,421
Total current assets	560,687	615,003
Other long-term assets
Regulatory assets	805,323	833,843
Unamortized debt expense	7,900	8,323
Other	81,932	81,838
Total other long-term assets	895,155	924,004
Total assets	5,634,307	5,590,457
Capitalization
Common stock equity	1,696,658	1,682,144	$ 1,618,987	$ 1,593,564
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,206,546	1,206,546
Total capitalization	2,937,497	2,922,983
Current liabilities
Current portion of long-term debt	0
Short-term borrowings from non-affiliates	88,993	0
Accounts payable	147,750	163,934
Interest and preferred dividends payable	22,367	22,316
Taxes accrued	188,653	250,402
Regulatory liabilities	763	632
Other	66,385	65,146
Total current liabilities	514,911	502,430
Deferred credits and other liabilities
Deferred income taxes	605,702	602,872
Regulatory liabilities	356,326	344,217
Unamortized tax credits	83,893	79,492
Defined benefit pension and other postretirement benefit plans liability	578,637	595,395
Other	74,581	76,636
Total deferred credits and other liabilities	1,699,139	1,698,612
Contributions in aid of construction	482,760	466,432
Total liabilities and shareholders’ equity	$ 5,634,307	$ 5,590,457

Electric utility subsidiary -48

Electric utility subsidiary - Consolidating statement of changes in common stock equity (unaudited) (Details 4) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Beginning Balance			$ 1,790,573	$ 1,726,406
Net income for common stock	$ 35,018	$ 41,281	66,884	87,068
Other comprehensive income, net of taxes	(3,127)	2,900	931	4,067
Common stock dividends			(65,140)	(62,916)
Ending Balance	1,898,520	1,759,935	1,898,520	1,759,935
Hawaiian Electric Company
Beginning Balance			1,682,144	1,593,564
Net income for common stock	32,841	34,230	59,715	69,650
Other comprehensive income, net of taxes	(15)	13	7	22
Common stock dividends			(45,203)	(44,246)
Common stock issuance expenses			(5)	(3)
Ending Balance	1,696,658	1,618,987	1,696,658	1,618,987
HELCO
Beginning Balance			281,846	274,802
Net income for common stock	4,484	4,846	8,272	10,007
Other comprehensive income, net of taxes	(3)	0	(3)	0
Common stock dividends			(5,010)	(5,813)
Common stock issuance expenses			(1)	(1)
Ending Balance	285,104	278,995	285,104	278,995
Maui Electric
Beginning Balance			256,692	248,771
Net income for common stock	5,140	5,013	9,044	8,769
Other comprehensive income, net of taxes	(3)	0	(3)	0
Common stock dividends			(7,587)	(7,175)
Common stock issuance expenses			0	0
Ending Balance	258,146	250,365	258,146	250,365
Other subsidiaries
Beginning Balance			101	101
Net income for common stock	0	0	0	0
Other comprehensive income, net of taxes	0	0	0	0
Ending Balance	101	101	101	101
Consolidating adjustments
Beginning Balance			(538,639)	(523,674)
Net income for common stock	(9,624)	(9,859)	(17,316)	(18,776)
Other comprehensive income, net of taxes	6	0	6	0
Common stock dividends			12,597	12,988
Common stock issuance expenses			1	1
Ending Balance	(543,351)	(529,461)	(543,351)	(529,461)
HECO Consolidated
Beginning Balance			1,682,144	1,593,564
Net income for common stock	32,841	34,230	59,715	69,650
Other comprehensive income, net of taxes	(15)	13	7	22
Common stock dividends			(45,203)	(44,246)
Common stock issuance expenses			(5)	(3)
Ending Balance	$ 1,696,658	$ 1,618,987	$ 1,696,658	$ 1,618,987

Electric utility subsidiary -49

Electric utility subsidiary - Consolidating statement of cash flows (unaudited) (Details 5) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities
Net income	$ 35,491	$ 41,754	$ 67,830	$ 88,014
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment			91,731	86,397
Other amortization			4,320	4,014
Increase in deferred income taxes			22,980	28,570
Allowance for equity funds used during construction	(1,896)	(1,387)	(3,309)	(2,996)
Change in cash overdraft			193	(1,038)
Changes in assets and liabilities
Decrease (increase) in fuel oil stock			(2,362)	(27,206)
Increase in regulatory assets			(19,976)	(17,731)
Change in prepaid and accrued income and utility revenue taxes			(4,390)	(32,510)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability			218	(1,714)
Net cash provided by operating activities			104,303	46,195
Cash flows from investing activities
Capital expenditures			(142,236)	(149,253)
Contributions in aid of construction			19,089	13,209
Net cash used in investing activities			(227,706)	(272,102)
Cash flows from financing activities
Common stock dividends			(65,140)	(62,916)
Net increase in short-term borrowings with original maturities of three months or less			5,571	79,693
Other			246	(228)
Net cash provided by financing activities			248,548	194,248
Net increase (decrease) in cash and cash equivalents			125,145	(31,659)
Hawaiian Electric Company
Cash flows from operating activities
Net income	33,111	34,500	60,255	70,190
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries			(17,366)	(18,826)
Common stock dividends received from subsidiaries			12,647	13,038
Depreciation of property, plant and equipment			58,778	54,601
Other amortization			1,177	554
Increase in deferred income taxes			26,423	34,976
Change in tax credits, net			3,803	3,482
Allowance for equity funds used during construction	(1,581)	(1,417)	(2,704)	(2,889)
Changes in assets and liabilities
Decrease (increase) in accounts receivable			13,651	(4,840)
Decrease in accrued unbilled revenues			22,907	1,058
Decrease (increase) in fuel oil stock			(11,195)	(23,457)
Increase in materials and supplies			297	(229)
Increase in regulatory assets			(15,984)	(15,893)
Decrease in accounts payable			(56,746)	(54,777)
Change in prepaid and accrued income and utility revenue taxes			(53,350)	(33,867)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability			0	(281)
Change in other assets and liabilities			(6,099)	(19,897)
Net cash provided by operating activities			36,494	2,943
Cash flows from investing activities
Capital expenditures			(103,079)	(104,710)
Contributions in aid of construction			16,628	8,520
Advances from affiliates			(2,100)	(16,761)
Net cash used in investing activities			(88,551)	(112,951)
Cash flows from financing activities
Common stock dividends			(45,203)	(44,246)
Preferred stock dividends of Hawaiian Electric and subsidiaries			(540)	(540)
Net increase in short-term borrowings with original maturities of three months or less			88,993	101,989
Other			(216)	(334)
Net cash provided by financing activities			43,034	56,869
Net increase (decrease) in cash and cash equivalents			(9,023)	(53,139)
Cash and cash equivalents, beginning of period			12,416	61,245
Cash and cash equivalents, end of period	3,393	8,106	3,393	8,106
HELCO
Cash flows from operating activities
Net income	4,617	4,979	8,539	10,274
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment			18,625	17,951
Other amortization			870	1,299
Increase in deferred income taxes			1,376	4,478
Change in tax credits, net			399	434
Allowance for equity funds used during construction	(165)	(121)	(310)	(186)
Changes in assets and liabilities
Decrease (increase) in accounts receivable			(787)	(1,527)
Decrease in accrued unbilled revenues			2,154	(352)
Decrease (increase) in fuel oil stock			5,450	1,661
Increase in materials and supplies			(508)	(246)
Increase in regulatory assets			(2,987)	(1,640)
Decrease in accounts payable			(8,755)	(5,621)
Change in prepaid and accrued income and utility revenue taxes			(3,079)	(3,709)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability			0	0
Change in other assets and liabilities			(1,724)	(2,586)
Net cash provided by operating activities			19,263	20,230
Cash flows from investing activities
Capital expenditures			(17,762)	(20,567)
Contributions in aid of construction			1,465	2,493
Advances from affiliates			0	1,000
Net cash used in investing activities			(16,297)	(17,074)
Cash flows from financing activities
Common stock dividends			(5,010)	(5,813)
Preferred stock dividends of Hawaiian Electric and subsidiaries			(267)	(267)
Net increase in short-term borrowings with original maturities of three months or less			2,500	3,400
Other			0	(48)
Net cash provided by financing activities			(2,777)	(2,728)
Net increase (decrease) in cash and cash equivalents			189	428
Cash and cash equivalents, beginning of period			612	1,326
Cash and cash equivalents, end of period	801	1,754	801	1,754
Maui Electric
Cash flows from operating activities
Net income	5,236	5,109	9,235	8,960
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment			11,081	10,644
Other amortization			701	1,744
Increase in deferred income taxes			5,521	5,932
Change in tax credits, net			259	311
Allowance for equity funds used during construction	(150)	151	(295)	79
Change in cash overdraft			193	(1,038)
Changes in assets and liabilities
Decrease (increase) in accounts receivable			2,377	708
Decrease in accrued unbilled revenues			2,869	1,549
Decrease (increase) in fuel oil stock			3,383	(5,410)
Increase in materials and supplies			106	(1,360)
Increase in regulatory assets			(1,005)	(198)
Decrease in accounts payable			(3,450)	(2,908)
Change in prepaid and accrued income and utility revenue taxes			(7,184)	(694)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability			221	(217)
Change in other assets and liabilities			(3,565)	(3,155)
Net cash provided by operating activities			20,447	14,947
Cash flows from investing activities
Capital expenditures			(13,722)	(20,457)
Contributions in aid of construction			996	2,196
Advances from affiliates			0	0
Net cash used in investing activities			(12,726)	(18,261)
Cash flows from financing activities
Common stock dividends			(7,587)	(7,175)
Preferred stock dividends of Hawaiian Electric and subsidiaries			(191)	(191)
Net increase in short-term borrowings with original maturities of three months or less			(400)	13,361
Other			(1)	(75)
Net cash provided by financing activities			(8,179)	5,920
Net increase (decrease) in cash and cash equivalents			(458)	2,606
Cash and cash equivalents, beginning of period			633	153
Cash and cash equivalents, end of period	175	2,759	175	2,759
Other subsidiaries
Cash flows from operating activities
Net income	0	0	0	0
Changes in assets and liabilities
Net cash provided by operating activities			0	0
Cash flows from investing activities
Capital expenditures			0	0
Contributions in aid of construction			0	0
Advances from affiliates			0	0
Net cash used in investing activities			0	0
Cash flows from financing activities
Net increase (decrease) in cash and cash equivalents			0	0
Cash and cash equivalents, beginning of period			101	101
Cash and cash equivalents, end of period	101	101	101	101
Consolidating adjustments
Cash flows from operating activities
Net income	(9,624)	(9,859)	(17,316)	(18,776)
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries			17,316	18,776
Common stock dividends received from subsidiaries			(12,597)	(12,988)
Changes in assets and liabilities
Decrease (increase) in accounts receivable			1,714	620
Change in other assets and liabilities			(1,714)	(620)
Net cash provided by operating activities			(12,597)	(12,988)
Cash flows from investing activities
Capital expenditures			0	0
Contributions in aid of construction			0	0
Advances from affiliates			2,100	15,761
Net cash used in investing activities			2,100	15,761
Cash flows from financing activities
Common stock dividends			12,597	12,988
Net increase in short-term borrowings with original maturities of three months or less			(2,100)	(15,761)
Net cash provided by financing activities			10,497	(2,773)
Net increase (decrease) in cash and cash equivalents			0	0
Cash and cash equivalents, beginning of period			0	0
Cash and cash equivalents, end of period	0	0	0	0
HECO Consolidated
Cash flows from operating activities
Net income	33,340	34,729	60,713	70,648
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings of subsidiaries			(50)	(50)
Common stock dividends received from subsidiaries			50	50
Depreciation of property, plant and equipment			88,484	83,196
Other amortization			2,748	3,597
Increase in deferred income taxes			33,320	45,386
Change in tax credits, net			4,461	4,227
Allowance for equity funds used during construction	(1,896)	(1,387)	(3,309)	(2,996)
Change in cash overdraft			193	(1,038)
Changes in assets and liabilities
Decrease (increase) in accounts receivable			16,955	(5,039)
Decrease in accrued unbilled revenues			27,930	2,255
Decrease (increase) in fuel oil stock			(2,362)	(27,206)
Increase in materials and supplies			(105)	(1,835)
Increase in regulatory assets			(19,976)	(17,731)
Decrease in accounts payable			(68,951)	(63,306)
Change in prepaid and accrued income and utility revenue taxes			(63,613)	(38,270)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability			221	(498)
Change in other assets and liabilities			(13,102)	(26,258)
Net cash provided by operating activities			63,607	25,132
Cash flows from investing activities
Capital expenditures			(134,563)	(145,734)
Contributions in aid of construction			19,089	13,209
Advances from affiliates			0	0
Net cash used in investing activities			(115,474)	(132,525)
Cash flows from financing activities
Common stock dividends			(45,203)	(44,246)
Preferred stock dividends of Hawaiian Electric and subsidiaries			(998)	(998)
Net increase in short-term borrowings with original maturities of three months or less			88,993	102,989
Other			(217)	(457)
Net cash provided by financing activities			42,575	57,288
Net increase (decrease) in cash and cash equivalents			(9,292)	(50,105)
Cash and cash equivalents, beginning of period			13,762	62,825
Cash and cash equivalents, end of period	$ 4,470	$ 12,720	$ 4,470	$ 12,720

Bank segment - Income statement

Bank segment - Income statement data (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Noninterest expense
Income before income taxes	$ 56,402	$ 65,071	$ 108,720	$ 137,052
Income taxes	20,911	23,317	40,890	49,038
Net income	35,491	41,754	67,830	88,014
American Savings Bank (ASB)
Interest and dividend income
Interest and fees on loans	46,035	43,851	91,233	87,533
Interest and dividend on investment securities	3,306	2,950	6,357	5,985
Total interest and dividend income	49,341	46,801	97,590	93,518
Interest expense
Interest on deposit liabilities	1,266	1,237	2,526	2,462
Interest on other borrowings	1,487	1,420	2,953	2,825
Total interest expense	2,753	2,657	5,479	5,287
Net interest income	46,588	44,144	92,111	88,231
Provision for loan losses	1,825	1,021	2,439	2,016
Net interest income after provision for loan losses	44,763	43,123	89,672	86,215
Noninterest income
Fees from other financial services	5,550	5,217	10,905	10,345
Fee income on deposit liabilities	5,424	4,645	10,739	9,066
Fee income on other financial products	2,103	2,064	3,992	4,354
Bank-owned life insurance	1,058	982	2,041	1,945
Mortgage banking income	2,068	246	3,890	874
Gains on sale of securities	0	0	0	2,847
Other income	239	661	974	1,286
Total noninterest income	16,442	13,815	32,541	30,717
Noninterest expense
Compensation and employee benefits	22,319	19,872	44,085	40,158
Occupancy	4,009	4,489	8,122	8,442
Data processing	2,953	2,971	6,069	6,031
Services	2,833	2,855	5,174	5,128
Equipment	1,690	1,609	3,391	3,254
Office supplies, printing and postage	1,303	1,456	2,786	3,072
Marketing	844	1,031	1,685	1,742
Federal Deposit Insurance Corporation Premium Expense	773	805	1,584	1,601
Other expense	4,755	3,894	8,960	7,016
Total noninterest expense	41,479	38,982	81,856	76,444
Income before income taxes	19,726	17,956	40,357	40,488
Income taxes	6,875	6,420	14,031	14,553
Net income	$ 12,851	$ 11,536	$ 26,326	$ 25,935

Bank segment - Comprehensive in

Bank segment - Comprehensive income data (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Statement of Income Captions [Line Items]
Net income	$ 35,491	$ 41,754	$ 67,830	$ 88,014
Net unrealized gains (losses) on securities:
Net unrealized gains (losses) on available-for-sale investment securities arising during the period, net of (taxes) benefits of $2,439, $(1,679), $161 and $(3,343) for the respective periods	(3,694)	2,543	(243)	5,063
Less: reclassification adjustment for net realized gains included in net income, net of taxes of nil, nil, nil and $1,132 for the respective periods	0	0	0	(1,715)
Retirement benefit plans:
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $255, $142, $514 and $286 for the respective periods	5,780	2,873	11,239	5,686
Other comprehensive income (loss), net of taxes	(3,127)	2,900	931	4,067
Comprehensive income	31,891	44,181	67,815	91,135
Net unrealized gains (losses) on securities arising during the period, taxes	2,439	(1,679)	161	(3,343)
Less: reclassification adjustment for net realized gains included in net income, taxes	0	0	0	(1,132)
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	(3,691)	(1,836)	(7,177)	(3,632)
American Savings Bank (ASB)
Condensed Statement of Income Captions [Line Items]
Net income	12,851	11,536	26,326	25,935
Net unrealized gains (losses) on securities:
Net unrealized gains (losses) on available-for-sale investment securities arising during the period, net of (taxes) benefits of $2,439, $(1,679), $161 and $(3,343) for the respective periods	(3,694)	2,543	(243)	5,063
Less: reclassification adjustment for net realized gains included in net income, net of taxes of nil, nil, nil and $1,132 for the respective periods	0	0	0	(1,715)
Retirement benefit plans:
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $255, $142, $514 and $286 for the respective periods	387	215	779	434
Other comprehensive income (loss), net of taxes	(3,307)	2,758	536	3,782
Comprehensive income	9,544	14,294	26,862	29,717
Net unrealized gains (losses) on securities arising during the period, taxes	(2,439)	1,679	(161)	3,343
Less: reclassification adjustment for net realized gains included in net income, taxes	0	0	0	1,132
Less: amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	$ (255)	$ (142)	$ (514)	$ (286)

Bank segment - Balance sheet da

Bank segment - Balance sheet data (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Assets
Available-for-sale investment securities, at fair value	$ 693,520	$ 550,394
Stock in Federal Home Loan Bank, at cost	10,678	69,302
Loans receivable held for investment, net	4,410,817	4,389,033
Loans held for sale, at lower of cost or fair value	5,581	8,424
Other	493,151	542,523
Goodwill	82,190	82,190
Total assets	11,439,631	11,185,142
Liabilities
Other	461,335	531,230
Total liabilities	$ 9,506,818	$ 9,360,276
Commitments and contingencies
Equity [Abstract]
Retained earnings	$ 298,398	$ 296,654		$ 255,030
Accumulated other comprehensive income (loss), net of taxes:
Accumulated other comprehensive loss, net of tax benefits	(26,447)	(27,378)	$ (12,683)	(16,750)
Total shareholders’ equity	1,898,520	1,790,573	$ 1,759,935	$ 1,726,406
Total liabilities and shareholders’ equity	11,439,631	11,185,142
Other assets
Property, plant and equipment, net	4,269,241	4,148,774
Total Other Assets	493,151	542,523
Other liabilities
Total other liabilities	461,335	531,230
Balance Sheet related disclosures
Securities sold under agreements to repurchase	214,000	191,000
American Savings Bank (ASB)
Assets
Cash and due from banks	106,914	107,233
Interest-bearing deposits	162,088	54,230
Available-for-sale investment securities, at fair value	693,520	550,394
Stock in Federal Home Loan Bank, at cost	10,678	69,302
Loans receivable held for investment	4,457,182	4,434,651
Allowance for loan losses	(46,365)	(45,618)
Loans receivable held for investment, net	4,410,817	4,389,033
Loans held for sale, at lower of cost or fair value	5,581	8,424
Other	305,310	305,416
Goodwill	82,190	82,190
Total assets	5,777,098	5,566,222
Liabilities
Deposit liabilities-noninterest-bearing	1,455,721	1,342,794
Deposit liabilities-interest-bearing	3,347,550	3,280,621
Other borrowings	314,157	290,656
Other	113,015	118,363
Total liabilities	$ 5,230,443	$ 5,032,434
Commitments and contingencies
Equity [Abstract]
Common stock	$ 1	$ 1
Additional paid in capital	339,416	338,411
Retained earnings	223,260	211,934
Accumulated other comprehensive income (loss), net of taxes:
Net unrealized losses on securities	219	462
Accumulated other comprehensive loss, net of tax benefits	(16,241)	(17,020)
Accumulated other comprehensive loss, net of tax benefits	(16,022)	(16,558)
Total shareholders’ equity	546,655	533,788
Total liabilities and shareholders’ equity	5,777,098	5,566,222
Other assets
Bank-owned life insurance	136,062	134,115
Property, plant and equipment, net	85,976	92,407
Prepaid expenses	3,728	3,196
Accrued interest receivable	14,052	13,632
Mortgage-servicing rights	12,265	11,540
Low-income housing equity investments	30,974	33,438
Real estate acquired in settlement of loans, net	318	891
Other	21,935	16,197
Total Other Assets	305,310	305,416
Other liabilities
Accrued expenses	26,915	37,880
Federal and state income taxes payable	26,502	28,642
Cashier's checks	27,670	20,509
Advance payments by borrowers	10,093	9,652
Other	21,835	21,680
Total other liabilities	113,015	118,363
Balance Sheet related disclosures
Securities sold under agreements to repurchase	214,000	191,000
Advances from Federal Home Loan Bank	$ 100,000	$ 100,000

Bank segment - Components of in

Bank segment - Components of investment securities (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015USD ($)issue	Dec. 31, 2014USD ($)issue
Available-for-sale securities
Total available-for-sale securities, Amortized cost	$ 693,157	$ 549,627
Gross unrealized gains	6,572	6,745
Gross unrealized losses	(6,209)	(5,978)
Available-for-sale securities	$ 693,520	$ 550,394
Available-for-Sale, Securities, Less Than 12 Months, Number of Issues | issue	32	12
Available-for-sale Securities, Continuous Unrealized Loss Position
Fair value, less than 12 months	$ 247,800	$ 88,999
Gross unrealized losses, less than 12 months	$ (2,099)	$ (525)
Available for Sale, Securities, More Than 12 Months, Number of Issues | issue	28	34
Fair value, 12 months or longer	$ 154,878	$ 201,791
Gross unrealized losses, 12 months or longer	(4,110)	(5,453)
U.S. Treasury and federal agency obligations
Available-for-sale securities
Total available-for-sale securities, Amortized cost	168,143	119,507
Gross unrealized gains	1,355	1,092
Gross unrealized losses	(1,039)	(1,039)
Available-for-sale securities	$ 168,459	$ 119,560
Available-for-Sale, Securities, Less Than 12 Months, Number of Issues | issue	12	6
Available-for-sale Securities, Continuous Unrealized Loss Position
Fair value, less than 12 months	$ 76,835	$ 41,970
Gross unrealized losses, less than 12 months	$ (477)	$ (361)
Available for Sale, Securities, More Than 12 Months, Number of Issues | issue	3	5
Fair value, 12 months or longer	$ 18,332	$ 29,168
Gross unrealized losses, 12 months or longer	(562)	(678)
Mortgage-related securities- FNMA, FHLMC and GNMA
Available-for-sale securities
Total available-for-sale securities, Amortized cost	525,014	430,120
Gross unrealized gains	5,217	5,653
Gross unrealized losses	(5,170)	(4,939)
Available-for-sale securities	$ 525,061	$ 430,834
Available-for-Sale, Securities, Less Than 12 Months, Number of Issues | issue	20	6
Available-for-sale Securities, Continuous Unrealized Loss Position
Fair value, less than 12 months	$ 170,965	$ 47,029
Gross unrealized losses, less than 12 months	$ (1,622)	$ (164)
Available for Sale, Securities, More Than 12 Months, Number of Issues | issue	25	29
Fair value, 12 months or longer	$ 136,546	$ 172,623
Gross unrealized losses, 12 months or longer	$ (3,548)	$ (4,775)

Bank segment - Contractual matu

Bank segment - Contractual maturities of securities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Amortized Cost
Due in one year or less	$ 0
Due after one year through five years	37,272
Due after five years through ten years	77,747
Due after ten years	53,124
Total amortized cost	168,143
Mortgage-related securities-FNMA, FHLMC and GNMA - amortized cost	525,014
Total available-for-sale securities, Amortized cost	693,157	$ 549,627
Fair value
Due in one year or less	0
Due after one year through five years	37,631
Due after five years through ten years	78,291
Due after ten years	52,537
Total fair value	168,459
Mortgage-related securities-FNMA, FHLMC and GNMA - fair value	525,061
Available-for-sale securities	$ 693,520	$ 550,394

Bank segment - Allowance for lo

Bank segment - Allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	$ 45,795	$ 40,923	$ 45,618	$ 40,116
Charge-offs	(1,814)	(984)	(2,961)	(1,941)
Recoveries	559	1,412	1,269	2,181
Provision	1,825	1,021	2,439	2,016
Valuation allowance, balance at the end of the period	46,365	42,372	46,365	42,372
Ending balance: individually evaluated for impairment	5,390	4,370	5,390	4,370
Ending balance: collectively evaluated for impairment	40,975	38,002	40,975	38,002
Financing Receivables:
Total financing receivables	4,463,419	4,295,045	4,463,419	4,295,045	$ 4,440,989
Ending balance: individually evaluated for impairment	55,231	50,481	55,231	50,481
Ending balance: collectively evaluated for impairment	4,408,188	4,244,564	4,408,188	4,244,564
Residential 1-4 family
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	4,921	5,475	4,662	5,534
Charge-offs	(58)	(94)	(214)	(360)
Recoveries	55	555	67	896
Provision	(627)	(269)	(224)	(403)
Valuation allowance, balance at the end of the period	4,291	5,667	4,291	5,667
Ending balance: individually evaluated for impairment	1,363	969	1,363	969
Ending balance: collectively evaluated for impairment	2,928	4,698	2,928	4,698
Financing Receivables:
Total financing receivables	2,045,357	2,019,092	2,045,357	2,019,092	2,044,205
Ending balance: individually evaluated for impairment	22,720	17,978	22,720	17,978
Ending balance: collectively evaluated for impairment	2,022,637	2,001,114	2,022,637	2,001,114
Commercial real estate
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	11,228	5,715	8,954	5,059
Provision	(808)	1,515	1,466	2,171
Valuation allowance, balance at the end of the period	10,420	7,230	10,420	7,230
Ending balance: individually evaluated for impairment	0	941	0	941
Ending balance: collectively evaluated for impairment	10,420	6,289	10,420	6,289
Financing Receivables:
Total financing receivables	561,262	476,116	561,262	476,116	531,917
Ending balance: individually evaluated for impairment	522	4,512	522	4,512
Ending balance: collectively evaluated for impairment	560,740	471,604	560,740	471,604
Home equity line of credit
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	6,523	5,969	6,982	5,229
Charge-offs	(17)	(136)	(20)	(136)
Recoveries	8	314	39	325
Provision	99	934	(388)	1,663
Valuation allowance, balance at the end of the period	6,613	7,081	6,613	7,081
Ending balance: individually evaluated for impairment	269	14	269	14
Ending balance: collectively evaluated for impairment	6,344	7,067	6,344	7,067
Financing Receivables:
Total financing receivables	820,296	790,837	820,296	790,837	818,815
Ending balance: individually evaluated for impairment	1,899	612	1,899	612
Ending balance: collectively evaluated for impairment	818,397	790,225	818,397	790,225
Residential land
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	2,286	1,575	1,875	1,817
Charge-offs	0	(47)	0	(53)
Recoveries	136	77	185	163
Provision	(319)	232	43	(90)
Valuation allowance, balance at the end of the period	2,103	1,837	2,103	1,837
Ending balance: individually evaluated for impairment	1,048	1,202	1,048	1,202
Ending balance: collectively evaluated for impairment	1,055	635	1,055	635
Financing Receivables:
Total financing receivables	17,273	17,189	17,273	17,189	16,240
Ending balance: individually evaluated for impairment	6,534	9,320	6,534	9,320
Ending balance: collectively evaluated for impairment	10,739	7,869	10,739	7,869
Commercial construction
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	2,837	3,063	5,471	2,397
Provision	(262)	327	(2,896)	993
Valuation allowance, balance at the end of the period	2,575	3,390	2,575	3,390
Ending balance: collectively evaluated for impairment	2,575	3,390	2,575	3,390
Financing Receivables:
Total financing receivables	62,444	80,312	62,444	80,312	96,438
Ending balance: collectively evaluated for impairment	62,444	80,312	62,444	80,312
Residential construction
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	21	24	28	19
Provision	(3)	2	(10)	7
Valuation allowance, balance at the end of the period	18	26	18	26
Ending balance: collectively evaluated for impairment	18	26	18	26
Financing Receivables:
Total financing receivables	19,984	17,441	19,984	17,441	18,961
Ending balance: collectively evaluated for impairment	19,984	17,441	19,984	17,441
Commercial loans
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	14,580	15,592	14,017	15,803
Charge-offs	(756)	(246)	(802)	(370)
Recoveries	106	225	447	325
Provision	3,539	(427)	3,807	(614)
Valuation allowance, balance at the end of the period	17,469	15,144	17,469	15,144
Ending balance: individually evaluated for impairment	2,702	1,239	2,702	1,239
Ending balance: collectively evaluated for impairment	14,767	13,905	14,767	13,905
Financing Receivables:
Total financing receivables	821,636	782,804	821,636	782,804	791,757
Ending balance: individually evaluated for impairment	23,541	18,042	23,541	18,042
Ending balance: collectively evaluated for impairment	798,095	764,762	798,095	764,762
Consumer loans
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	3,399	2,316	3,629	2,367
Charge-offs	(983)	(461)	(1,925)	(1,022)
Recoveries	254	241	531	472
Provision	206	(99)	641	180
Valuation allowance, balance at the end of the period	2,876	1,997	2,876	1,997
Ending balance: individually evaluated for impairment	8	5	8	5
Ending balance: collectively evaluated for impairment	2,868	1,992	2,868	1,992
Financing Receivables:
Total financing receivables	115,167	111,254	115,167	111,254	$ 122,656
Ending balance: individually evaluated for impairment	15	17	15	17
Ending balance: collectively evaluated for impairment	115,152	111,237	115,152	111,237
Unallocated
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	0	1,194	0	1,891
Provision	0	(1,194)	0	(1,891)
Valuation allowance, balance at the end of the period	0	0	0	0
Ending balance: collectively evaluated for impairment	$ 0	$ 0	$ 0	$ 0

Bank segment - Credit risk prof

Bank segment - Credit risk profile - assigned grades (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Credit risk profile by internally assigned grade for loans
Commercial real estate	$ 561,262	$ 531,917
Commercial construction	62,444	96,438
Commercial	821,636	791,757
Pass
Credit risk profile by internally assigned grade for loans
Commercial real estate	507,904	493,105
Commercial construction	58,356	79,312
Commercial	763,238	743,334
Special mention
Credit risk profile by internally assigned grade for loans
Commercial real estate	7,232	5,209
Commercial construction	4,088	0
Commercial	10,313	16,095
Substandard
Credit risk profile by internally assigned grade for loans
Commercial real estate	46,126	33,603
Commercial construction	0	17,126
Commercial	47,492	31,665
Doubtful
Credit risk profile by internally assigned grade for loans
Commercial	$ 593	$ 663

Bank segment - Credit risk pr57

Bank segment - Credit risk profile - payment activity (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Credit risk profile based on payment activity for loans
30-59 days past due	$ 8,385	$ 8,993
60-89 days past due	2,929	2,711
Greater than 90 days	13,210	13,798
Total past due	24,524	25,502
Current	4,438,895	4,415,487
Total financing receivables	4,463,419	4,440,989	$ 4,295,045
Recorded Investment greater than 90 days and accruing	0	0
Residential 1-4 family
Credit risk profile based on payment activity for loans
30-59 days past due	5,016	6,124
60-89 days past due	1,900	1,732
Greater than 90 days	11,998	12,632
Total past due	18,914	20,488
Current	2,026,443	2,023,717
Total financing receivables	2,045,357	2,044,205	2,019,092
Commercial real estate
Credit risk profile based on payment activity for loans
Current	561,262	531,917
Total financing receivables	561,262	531,917	476,116
Home equity line of credit
Credit risk profile based on payment activity for loans
30-59 days past due	923	1,341
60-89 days past due	284	501
Greater than 90 days	389	194
Total past due	1,596	2,036
Current	818,700	816,779
Total financing receivables	820,296	818,815	790,837
Residential land
Credit risk profile based on payment activity for loans
30-59 days past due	420
60-89 days past due	267
Greater than 90 days	0
Total past due	687
Current	16,586	16,240
Total financing receivables	$ 17,273	16,240	17,189
Recorded Investment greater than 90 days and accruing
Commercial construction
Credit risk profile based on payment activity for loans
Current	$ 62,444	96,438
Total financing receivables	62,444	96,438	80,312
Residential construction
Credit risk profile based on payment activity for loans
Current	19,984	18,961
Total financing receivables	19,984	18,961	17,441
Commercial loans
Credit risk profile based on payment activity for loans
30-59 days past due	907	699
60-89 days past due	147	145
Greater than 90 days	528	569
Total past due	1,582	1,413
Current	820,054	790,344
Total financing receivables	821,636	791,757	782,804
Recorded Investment greater than 90 days and accruing		0
Consumer loans
Credit risk profile based on payment activity for loans
30-59 days past due	1,119	829
60-89 days past due	331	333
Greater than 90 days	295	403
Total past due	1,745	1,565
Current	113,422	121,091
Total financing receivables	$ 115,167	122,656	$ 111,254
Recorded Investment greater than 90 days and accruing		$ 0

Bank segment - Credit risk pr58

Bank segment - Credit risk profile - summary (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Credit risk profile based on nonaccrual loans
Nonaccrual loans	$ 31,136	$ 36,886
Accruing loans 90 days or more past due	0	0
Financing Receivable, Modifications, Post-Modification Recorded Investment	22,756	24,107
Residential 1-4 family
Credit risk profile based on nonaccrual loans
Nonaccrual loans	18,172	19,253
Financing Receivable, Modifications, Post-Modification Recorded Investment	14,257	13,525
Commercial real estate
Credit risk profile based on nonaccrual loans
Nonaccrual loans	522	5,112
Financing Receivable, Modifications, Post-Modification Recorded Investment	0	0
Home equity line of credit
Credit risk profile based on nonaccrual loans
Nonaccrual loans	1,962	1,087
Financing Receivable, Modifications, Post-Modification Recorded Investment	1,362	480
Residential land
Credit risk profile based on nonaccrual loans
Nonaccrual loans	$ 712	720
Accruing loans 90 days or more past due
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 5,822	7,130
Commercial construction
Credit risk profile based on nonaccrual loans
Nonaccrual loans	0	0
Financing Receivable, Modifications, Post-Modification Recorded Investment	0	0
Residential construction
Credit risk profile based on nonaccrual loans
Nonaccrual loans	0	0
Financing Receivable, Modifications, Post-Modification Recorded Investment	0	0
Commercial loans
Credit risk profile based on nonaccrual loans
Nonaccrual loans	9,225	10,053
Accruing loans 90 days or more past due		0
Financing Receivable, Modifications, Post-Modification Recorded Investment	1,315	2,972
Consumer loans
Credit risk profile based on nonaccrual loans
Nonaccrual loans	543	661
Accruing loans 90 days or more past due		0
Financing Receivable, Modifications, Post-Modification Recorded Investment	$ 0	$ 0

Bank segment - Principal balanc

Bank segment - Principal balance of impaired loans (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Recorded investment:
With no related allowance recorded	$ 19,848	$ 19,848	$ 23,167
With an allowance recorded	35,383	35,383	26,679
Recorded investment	55,231	55,231	49,846
Unpaid principal balance:
With no related allowance recorded	24,078	24,078	28,890
With an allowance recorded	37,417	37,417	27,119
Unpaid principal balance	61,495	61,495	56,009
Related Allowance	5,390	5,390	4,665
Average recorded investment:
With no related allowance recorded	20,614	21,527	17,592
With an allowance recorded	27,995	27,399	30,882
Average recorded investment	48,609	48,926	48,474
Interest income recognized:
With no related allowance recorded	250	394	442
With an allowance recorded	258	523	1,825
Interest income recognized	508	917	2,267
Residential 1-4 family
Recorded investment:
With no related allowance recorded	11,132	11,132	11,654
With an allowance recorded	11,588	11,588	11,327
Recorded investment	22,720	22,720	22,981
Unpaid principal balance:
With no related allowance recorded	12,417	12,417	12,987
With an allowance recorded	11,641	11,641	11,347
Unpaid principal balance	24,058	24,058	24,334
Related Allowance	1,363	1,363	951
Average recorded investment:
With no related allowance recorded	11,193	11,373	9,056
With an allowance recorded	11,794	11,651	8,822
Average recorded investment	22,987	23,024	17,878
Interest income recognized:
With no related allowance recorded	66	155	227
With an allowance recorded	130	256	419
Interest income recognized	196	411	646
Commercial real estate
Recorded investment:
With no related allowance recorded	522	522	571
With an allowance recorded	0	0	4,541
Recorded investment	522	522	5,112
Unpaid principal balance:
With no related allowance recorded	593	593	626
With an allowance recorded	0	0	4,541
Unpaid principal balance	593	593	5,167
Related Allowance	0	0	1,845
Average recorded investment:
With no related allowance recorded	530	543	194
With an allowance recorded	1,474	2,978	3,415
Average recorded investment	2,004	3,521	3,609
Interest income recognized:
With no related allowance recorded			0
With an allowance recorded	0	0	478
Interest income recognized	0	0	478
Home equity line of credit
Recorded investment:
With no related allowance recorded	376	376	363
With an allowance recorded	1,523	1,523	416
Recorded investment	1,899	1,899	779
Unpaid principal balance:
With no related allowance recorded	583	583	606
With an allowance recorded	1,585	1,585	420
Unpaid principal balance	2,168	2,168	1,026
Related Allowance	269	269	46
Average recorded investment:
With no related allowance recorded	433	417	402
With an allowance recorded	1,212	919	132
Average recorded investment	1,645	1,336	534
Interest income recognized:
With no related allowance recorded	1	2	5
With an allowance recorded	8	14	6
Interest income recognized	9	16	11
Residential land
Recorded investment:
With no related allowance recorded	2,597	2,597	2,344
With an allowance recorded	3,937	3,937	5,506
Recorded investment	6,534	6,534	7,850
Unpaid principal balance:
With no related allowance recorded	3,366	3,366	3,200
With an allowance recorded	4,015	4,015	5,584
Unpaid principal balance	7,381	7,381	8,784
Related Allowance	1,048	1,048	1,057
Average recorded investment:
With no related allowance recorded	3,026	2,831	2,728
With an allowance recorded	4,142	4,666	6,415
Average recorded investment	7,168	7,497	9,143
Interest income recognized:
With no related allowance recorded	44	96	172
With an allowance recorded	84	167	484
Interest income recognized	128	263	656
Commercial loans
Recorded investment:
With no related allowance recorded	5,221	5,221	8,235
With an allowance recorded	18,320	18,320	4,873
Recorded investment	23,541	23,541	13,108
Unpaid principal balance:
With no related allowance recorded	7,119	7,119	11,471
With an allowance recorded	20,161	20,161	5,211
Unpaid principal balance	27,280	27,280	16,682
Related Allowance	2,702	2,702	760
Average recorded investment:
With no related allowance recorded	5,432	6,363	5,204
With an allowance recorded	9,358	7,170	12,089
Average recorded investment	14,790	13,533	17,293
Interest income recognized:
With no related allowance recorded	139	141	38
With an allowance recorded	36	86	438
Interest income recognized	175	227	476
Consumer loans
Recorded investment:
With no related allowance recorded			0
With an allowance recorded	15	15	16
Recorded investment	15	15	16
Unpaid principal balance:
With no related allowance recorded			0
With an allowance recorded	15	15	16
Unpaid principal balance	15	15	16
Related Allowance	8	8	6
Average recorded investment:
With no related allowance recorded			8
With an allowance recorded	15	15	9
Average recorded investment	15	15	17
Interest income recognized:
With an allowance recorded	$ 0	$ 0	$ 0

Bank segment - Troubled debt re

Bank segment - Troubled debt restructuring - narrative (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total
Land loans
Troubled debt restructurings
Period of interest-only monthly payment term loan	3 years
Land loans | Maximum
Troubled debt restructurings
Extension of maturity date	5 years
Troubled debt restructurings real estate loans
Troubled debt restructurings
Financing receivable modifications minimum, period of payment default of loans determined to be TDRs	90 days
Commitments to lend additional funds to borrows with impaired or modified loans	$ 0.1

Bank segment - Loan modificatio

Bank segment - Loan modifications (Details) - Troubled debt restructurings real estate loans $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)contract	Jun. 30, 2014USD ($)contract	Jun. 30, 2015USD ($)contract	Jun. 30, 2014USD ($)contract
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	18	18	33	33
Pre-modification outstanding recorded investment	$ 1,169	$ 5,863	$ 2,567	$ 8,390
Post-modification outstanding recorded investment	1,169	5,881	2,585	8,422
Net increases in ALL	$ 183	$ 432	$ 285	$ 665
Residential 1-4 family
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	2	7	7	12
Pre-modification outstanding recorded investment	$ 318	$ 2,194	$ 1,195	$ 3,115
Post-modification outstanding recorded investment	$ 318	2,212	1,213	3,147
Net increases in ALL		$ 207	$ 47	$ 251
Home equity line of credit
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	13		22
Pre-modification outstanding recorded investment	$ 690		$ 1,119
Post-modification outstanding recorded investment	690		1,119
Net increases in ALL	$ 105		$ 160
Residential land
Financing Receivable, Modifications [Line Items]
Number of contracts | contract		9		16
Pre-modification outstanding recorded investment		$ 2,915		$ 4,048
Post-modification outstanding recorded investment		2,915		4,048
Net increases in ALL		$ 225		$ 400
Commercial loans
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	3	2	4	5
Pre-modification outstanding recorded investment	$ 161	$ 754	$ 253	$ 1,227
Post-modification outstanding recorded investment	161	$ 754	253	1,227
Net increases in ALL	$ 78		$ 78	$ 14

Bank segment - Troubled debt 62

Bank segment - Troubled debt restructuring that subsequently defaulted (Details) - Jun. 30, 2014 $ in Thousands	USD ($)contract	USD ($)contract
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	1	1
Recorded investment	$ 390	$ 390
Residential 1-4 family
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	1	1
Recorded investment	$ 390	$ 390

Bank segment - Mortgage servici

Bank segment - Mortgage servicing rights (Details) - American Savings Bank (ASB) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2014
Servicing Asset at Amortized Cost [Line Items]
Mortgage service fees	$ 900	$ 900	$ 1,800	$ 1,700
Movement in Mortgage Loans on Real Estate [Roll Forward]
Servicing Asset at Amortized Cost			11,540
Servicing Asset at Amortized Cost	12,265		12,265		$ 11,540
Mortgage Servicing Rights (MSR)
Servicing Asset at Amortized Cost [Line Items]
Gross carrying amount	29,182	26,357
Accumulated amortization	(16,880)	(14,578)
Valuation allowance	(37)	(174)	(209)	(251)	(251)	$ (209)
Net carrying amount	12,265	11,605
Movement in Mortgage Loans on Real Estate [Roll Forward]
Servicing Asset at Amortized Cost			11,749	11,938	11,938
Servicing Asset at Amortized Value, Amount Capitalized			2,001	753
Servicing Asset at Amortized Cost, Amortization			(1,444)	(872)
Other-than-temporary impairment			(4)	(40)
Servicing Asset at Amortized Cost	12,302	11,779	12,302	11,779	11,749
Valuation Allowance [Roll Forward]
Valuation allowance, beginning balance			209	251	251
Provision (recovery)			(168)	(37)
Other-than-temporary impairment			(4)	(40)
Valuation allowance, ending balance	37	$ 174	$ 37	$ 174	$ 209
Unpaid principal balance	1,467,492					1,391,030
Weighted average note-rate			4.02%		4.07%
Weighted average discount rate			9.50%		9.60%
Weighted average prepayment speed			11.00%		9.50%
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 25 Basis Point Adverse Change in Prepayment Speed	(814)					(757)
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 50 Basis Point Adverse Change in Prepayment Speed	(1,537)					(1,524)
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 25 Basis Points Adverse Change in Discount Rate	(132)					(140)
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of 50 Basis Points Adverse Change in Discount Rate	$ (262)					$ (278)

Bank segment - Repurchase Agree

Bank segment - Repurchase Agreements (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Offsetting Liabilities [Line Items]
Gross amount of recognized liabilities	$ 214	$ 191
Securities sold under agreements to repurchase	214	191
Securities sold under agreements to repurchase collateral, financial instruments	214	191
Financial Institution
Offsetting Liabilities [Line Items]
Securities sold under agreements to repurchase	50	50
Securities sold under agreements to repurchase collateral, financial instruments	50	50
Government Entities
Offsetting Liabilities [Line Items]
Securities sold under agreements to repurchase	66	56
Securities sold under agreements to repurchase collateral, financial instruments	66	56
Commercial account holders
Offsetting Liabilities [Line Items]
Securities sold under agreements to repurchase	98	85
Securities sold under agreements to repurchase collateral, financial instruments	$ 98	$ 85

Bank segment - Derivatives (Det

Bank segment - Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Derivative instrument
Net gains (losses) recognized in the Statement of Income	$ (131)	$ (227)	$ 155	$ (603)
Not designated as a hedging instrument
Derivative instrument
Asset derivative	454		454		$ 398
Liability derivative	15		15		114
Interest rate lock commitments
Derivative instrument
Notional amount	33,178		33,178		29,330
Fair value	446		446		390
Interest rate lock commitments | Not designated as a hedging instrument
Derivative instrument
Asset derivative	448		448		393
Liability derivative	2		2		3
Interest rate lock commitments | Not designated as a hedging instrument | Mortgage banking income
Derivative instrument
Net gains (losses) recognized in the Statement of Income	(389)	(194)	56	(464)
Forward sale contracts
Derivative instrument
Notional amount	28,551		28,551		32,833
Fair value	(7)		(7)		(106)
Forward sale contracts | Not designated as a hedging instrument
Derivative instrument
Asset derivative	6		6		5
Liability derivative	13		13		$ 111
Forward sale contracts | Not designated as a hedging instrument | Mortgage banking income
Derivative instrument
Net gains (losses) recognized in the Statement of Income	$ 258	$ (33)	$ 99	$ (139)

Bank segment - Contingencies (D

Bank segment - Contingencies (Details) - USD ($) $ in Millions	1 Months Ended
	Dec. 31, 2014	Jun. 30, 2015
March 2011 Class Action Lawsuit
Loss Contingencies [Line Items]
Litigation Settlement, Amount	$ 2
Loss Contingency Accrual		$ 2
American Savings Bank (ASB)
Loss Contingencies [Line Items]
Unfunded commitments to fund the company's LIHTC	$ 14.8	$ 8.6

Retirement benefits (Details)

Retirement benefits (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Defined benefit plans
Expected payments	$ 2,000,000		$ 2,000,000
Payments for benefits					$ 2,000,000
Retirement benefits expense			$ 18,000,000	$ 17,000,000
Number of years for which regulatory asset/liability for each utility will be amortized, beginning with respective utility's next rate case			5 years
Defined contribution plan, expenses recognized			$ 2,700,000	2,200,000
Cash contributions by the employer to defined contribution plan			3,400,000	3,500,000
Pension benefits
Defined benefit plans
Contributions made to defined benefit plans			44,000,000	30,000,000
Service cost	16,640,000	$ 12,525,000	33,106,000	24,652,000
Interest cost	19,363,000	18,113,000	38,502,000	36,114,000
Expected return on plan assets	(22,149,000)	(20,334,000)	(44,300,000)	(40,681,000)
Amortization of prior service gain	1,000	22,000	2,000	44,000
Amortization of net actuarial loss	9,455,000	5,138,000	18,417,000	10,176,000
Net periodic benefit cost	23,310,000	15,464,000	45,727,000	30,305,000
Impact of PUC D&Os	(10,464,000)	(3,651,000)	(19,977,000)	(6,662,000)
Net periodic benefit cost (adjusted for impact of PUC D&Os)	12,846,000	11,813,000	25,750,000	23,643,000
Other benefits
Defined benefit plans
Contributions expected to be paid in current year			88,000,000		60,000,000
Service cost	1,094,000	866,000	1,963,000	1,749,000
Interest cost	2,268,000	2,117,000	4,503,000	4,277,000
Expected return on plan assets	(2,934,000)	(2,748,000)	(5,841,000)	(5,456,000)
Amortization of prior service gain	(449,000)	(449,000)	(897,000)	(897,000)
Amortization of net actuarial loss	466,000	(3,000)	896,000	(6,000)
Net periodic benefit cost	445,000	(217,000)	624,000	(333,000)
Impact of PUC D&Os	(218,000)	543,000	(120,000)	988,000
Net periodic benefit cost (adjusted for impact of PUC D&Os)	227,000	326,000	504,000	655,000
American Savings Bank (ASB) | Other benefits
Defined benefit plans
Contributions expected to be paid in current year			0		0
Hawaiian Electric Industries, Inc. | Other benefits
Defined benefit plans
Contributions expected to be paid in current year			2,000,000		1,000,000
HECO Consolidated
Defined benefit plans
Expected payments	1,000,000		1,000,000
Payments for benefits					1,000,000
Retirement benefits expense			15,000,000	16,000,000
Defined contribution plan, expenses recognized			700,000	400,000
Cash contributions by the employer to defined contribution plan			700,000	400,000
HECO Consolidated | Pension benefits
Defined benefit plans
Contributions made to defined benefit plans			43,000,000	29,000,000
Service cost	16,148,000	12,101,000	32,131,000	23,798,000
Interest cost	17,749,000	16,553,000	35,265,000	32,989,000
Expected return on plan assets	(20,639,000)	(18,158,000)	(41,271,000)	(36,329,000)
Amortization of prior service gain	10,000	16,000	20,000	31,000
Amortization of net actuarial loss	8,592,000	4,669,000	16,686,000	9,229,000
Net periodic benefit cost	21,860,000	15,181,000	42,831,000	29,718,000
Impact of PUC D&Os	(10,464,000)	(3,651,000)	(19,977,000)	(6,662,000)
Net periodic benefit cost (adjusted for impact of PUC D&Os)	11,396,000	11,530,000	22,854,000	23,056,000
HECO Consolidated | Other benefits
Defined benefit plans
Contributions expected to be paid in current year			86,000,000		$ 59,000,000
Service cost	1,080,000	840,000	1,935,000	1,696,000
Interest cost	2,191,000	2,038,000	4,350,000	4,117,000
Expected return on plan assets	(2,889,000)	(2,707,000)	(5,748,000)	(5,370,000)
Amortization of prior service gain	(451,000)	(451,000)	(902,000)	(902,000)
Amortization of net actuarial loss	455,000	0	877,000	0
Net periodic benefit cost	386,000	(280,000)	512,000	(459,000)
Impact of PUC D&Os	(218,000)	543,000	(120,000)	988,000
Net periodic benefit cost (adjusted for impact of PUC D&Os)	$ 168,000	$ 263,000	$ 392,000	$ 529,000

Share-based compensation (Detai

Share-based compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 01, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Share-based compensation
Capitalized share-based compensation expense		$ 50	$ 30	$ 90	$ 70
Income tax benefit from compensation expense		$ 700	$ 1,100	$ 1,400	1,900
Equity and Incentive Plan
Share-based compensation
Number of additional shares authorized	1,500,000
Shares available for future issuance		3,500,000		3,500,000
Number of share issuable upon vesting and achievement of performance goals		800,000		800,000
Nonemployee Director Stock Plan
Share-based compensation
Shares available for future grant		141,044		141,044
Income tax benefit from compensation expense				$ 300	$ 300
Nonemployee director, shares granted				28,246	33,170
Nonemployee director, fair value of grants				$ 800	$ 800
Long-term Incentive 2012 to 2014 Plan Linked to Total Return to Shareholders
Share-based compensation
Award requisite service period				3 years
Stock appreciation rights (SARs)
Share-based compensation
Options outstanding		0		0			80,000
Options, weighted average exercise price (in dollars per share)							$ 26.18
Shares underlying SARS exercised		0	0	80,000	0
Weighted-average price of shares exercised		$ 0	$ 0	$ 26.18	$ 0
Aggregate intrinsic value of options outstanding		$ 0	$ 0	$ 502	$ 0
Tax benefit realized for the deduction of exercises		0	$ 0	82	0
Restricted stock units
Share-based compensation
Unrecognized share based compensation		$ 5,600		$ 5,600
Weighted average period for recognition of unrecognized compensation cost				2 years 9 months 18 days
Fair value measurement of vested units and related dividends				$ 3,000	4,000
Income tax benefit from compensation expense				$ 800	$ 1,300
Nonvested equity instruments other than options outstanding		252,302	264,326	252,302	264,326	261,691	261,235	332,158	288,151
Nonvested equity instruments other than options, weighted average grant date fair value		$ 28.35	$ 25.74	$ 28.35	$ 25.74	$ 28.33	$ 25.77	$ 25.04	$ 25.17
Nonemployee director, shares granted		788	0	85,082	115,036
Long-term Incentive Plan
Share-based compensation
Payment award, low end of range				0.00%
Payment award, high end of range				200.00%
LTIP linked to TRS
Share-based compensation
Unrecognized share based compensation		$ 1,200		$ 1,200
Weighted average period for recognition of unrecognized compensation cost				1 year
Measurement period for total return to shareholders				3 years
Stock volatility measurement period				3 years
Nonvested equity instruments other than options outstanding		163,423	257,956	163,423	257,956	168,777	257,956	258,243	232,127
Nonvested equity instruments other than options, weighted average grant date fair value		$ 27.63	$ 28.45	$ 27.63	$ 28.45	$ 27.63	$ 28.45	$ 28.46	$ 32.88
Nonemployee director, shares granted		0	731	0	97,524
Long-term Incentive 2014 to 2016 Plan Linked to Total Return to Shareholders
Share-based compensation
Award requisite service period				3 years
LTIP awards linked to other performance conditions
Share-based compensation
Unrecognized share based compensation		$ 1,800		$ 1,800
Weighted average period for recognition of unrecognized compensation cost				1 year
Fair value measurement of vested units and related dividends				$ 4,700	$ 1,900
Income tax benefit from compensation expense				$ 1,800	$ 800
Nonvested equity instruments other than options outstanding		220,158	359,782	220,158	359,782	230,219	364,731	360,070	296,843
Nonvested equity instruments other than options, weighted average grant date fair value		$ 26	$ 26.01	$ 26	$ 26.01	$ 26	$ 26.01	$ 26.01	$ 26.14
Nonemployee director, shares granted		0	730	0	129,603
Long-term Incentive 2013 to 2015 Plan Linked to Total Return to Shareholders
Share-based compensation
Award requisite service period				3 years

Share-based compensation (Det69

Share-based compensation (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based compensation
Share-based compensation expense (in dollars)	$ 2	$ 2.8	$ 3.8	$ 5.2
Income tax benefit (in dollars)	0.7	1.1	1.4	1.9
Hawaiian Electric Company, Inc. and Subsidiaries
Share-based compensation
Share-based compensation expense (in dollars)	0.7	0.9	1.2	1.6
Income tax benefit (in dollars)	$ 0.3	$ 0.3	$ 0.5	$ 0.6

Share-based compensation (Det70

Share-based compensation (Details 3) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Weighted-average grant-date fair value per share
Total weighted-average grant-date fair value	$ 0	$ 0
Restricted stock units
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	261,691	332,158	261,235	288,151
Granted (in shares)	788	0	85,082	115,036
Vested (in shares)	(832)	(67,832)	(80,051)	(138,861)
Forfeited (in shares)	(9,345)	0	(13,964)	0
Outstanding, end of period (in shares)	252,302	264,326	252,302	264,326
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 28.33	$ 25.04	$ 25.77	$ 25.17
Granted (in dollars per share)	31.25	0	33.72	25.19
Vested (in dollars per share)	26.60	22.31	25.77	24.09
Forfeited (in dollars per share)	28.36	0	27.52	0
Outstanding, end of period (in dollars per share)	$ 28.35	$ 25.74	$ 28.35	$ 25.74
Total weighted-average grant-date fair value			$ 2.9	$ 2.9
LTIP linked to TRS
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	168,777	258,243	257,956	232,127
Granted (in shares)	0	731	0	97,524
Vested (in shares)	0	0	(75,915)	(70,189)
Forfeited (in shares)	(5,354)	(1,018)	(18,618)	(1,506)
Outstanding, end of period (in shares)	163,423	257,956	163,423	257,956
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 27.63	$ 28.46	$ 28.45	$ 32.88
Granted (in dollars per share)	0	22.95	0	22.95
Vested (in dollars per share)	0	0	30.71	35.46
Forfeited (in dollars per share)	27.42	26.50	26.41	28.32
Outstanding, end of period (in dollars per share)	$ 27.63	$ 28.45	$ 27.63	$ 28.45
Total weighted-average grant-date fair value	$ 0	$ 0	$ 0	$ 2.2
LTIP awards linked to other performance conditions
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	230,219	360,070	364,731	296,843
Granted (in shares)	0	730	0	129,603
Vested (in shares)	0	0	(121,249)	(65,089)
Forfeited (in shares)	(10,061)	(1,018)	(23,324)	(1,575)
Outstanding, end of period (in shares)	220,158	359,782	220,158	359,782
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 26	$ 26.01	$ 26.01	$ 26.14
Granted (in dollars per share)	0	23.34	0	25.18
Vested (in dollars per share)	0	0	26.05	24.95
Forfeited (in dollars per share)	26.02	25.81	25.85	26.07
Outstanding, end of period (in dollars per share)	$ 26	$ 26.01	$ 26	$ 26.01
Total weighted-average grant-date fair value	$ 0	$ 0	$ 0	$ 3.3

Share-based compensation (Det71

Share-based compensation (Details 4) - Jun. 30, 2015 - LTIP linked to TRS - $ / shares	Total
Share-based compensation
Risk-free interest rate (as a percent)	0.66%
Expected life	3 years
Expected volatility (as a percent)	17.80%
Range of expected volatility for Peer Group, minimum (as a percent)	12.40%
Range of expected volatility for Peer Group, maximum (as a percent)	23.30%
Grant date fair value (in dollars per share)	$ 22.95

Earnings per share and shareh72

Earnings per share and shareholders' equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 20, 2015	Jul. 14, 2014	Dec. 19, 2013	Mar. 20, 2013	Mar. 19, 2013
Earnings per share, basic and diluted
Distributed earnings, Basic (dollars per share)		$ 0.31		$ 0.62
Earnings Per Share, Diluted		0.31		0.62
Undistributed earnings, Basic (dollars per share)		0.10		0.24
Earnings Per Share, Diluted, Undistributed		0.10		0.23
Earnings per share, Basic (in dollars per share)	$ 0.33	0.41	$ 0.63	0.86
Equity forward transaction
Public offering related to equity forward transaction (in shares)									6,100,000
Sale of common stock related to equity forward transaction (in dollars per share)									$ 26.75
Closing price of common stock (in dollar per share)									$ 27.01
Offering related to underwriters exercising their over-allotment option under equity forward transaction (in shares)								900,000
Shares borrowed by forward counterparty from third party									7,000,000
Underwriting discount (in dollars per share)									$ 1.00312
Forward sale price (in dollars per share)									25.74688
Initial fair value (in dollars per share)									$ 0
Delivery of net shares on settlement					4,700,000	1,000,000	1,300,000
Delivery of cash on settlement					$ 104.5	$ 23.9	$ 32.1
Underwriting discount					$ 4.7	$ 1	$ 1.3
Diluted earnings per common share (in dollars per share)	$ 0.33	$ 0.41	$ 0.63	$ 0.85
Stock appreciation rights (SARs) | Common stock
Antidilutive effect of HEI common stock
Antidilutive effects of SARs shares that were not included in the computation of diluted EPS (in shares)			0	102,000

Earnings per share and shareh73

Earnings per share and shareholders' equity (Details 2) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning balance	$ (27,378)	$ (16,750)
Current period other comprehensive income (loss)	931	4,067
Ending balance	(26,447)	(12,683)
Net unrealized gains (losses) on securities
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning balance	462	(3,663)
Current period other comprehensive income (loss)	(243)	3,348
Ending balance	219	(315)
Unrealized losses on derivatives
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning balance	(289)	(525)
Current period other comprehensive income (loss)	118	118
Ending balance	(171)	(407)
Retirement benefit plans
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning balance	(27,551)	(12,562)
Current period other comprehensive income (loss)	1,056	601
Ending balance	(26,495)	(11,961)
Hawaiian Electric Company, Inc. and Subsidiaries | Retirement benefit plans
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning balance	45	608
Current period other comprehensive income (loss)	7	22
Ending balance	$ 52	$ 630

Earnings per share and shareh74

Earnings per share and shareholders' equity (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reclassifications out of accumulated other comprehensive income/(loss)
Interest expense	$ 18,906	$ 20,022	$ 38,006	$ 39,478
Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost	(5,780)	(2,873)	(11,239)	(5,686)
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets	5,272	2,575	10,183	5,085
Amount reclassified from AOCI
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	567	357	1,174	(996)
Net unrealized gains (losses) on securities | Amount reclassified from AOCI
Reclassifications out of accumulated other comprehensive income/(loss)
Revenues-bank (net gains on sales of securities)	0	0	0	(1,715)
Derivatives qualified as cash flow hedges Interest rate contracts (settled in 2011) | Interest rate contracts | Amount reclassified from AOCI
Reclassifications out of accumulated other comprehensive income/(loss)
Interest expense	59	59	118	118
Retirement benefit plans | Amount reclassified from AOCI
Reclassifications out of accumulated other comprehensive income/(loss)
Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost	5,780	2,873	11,239	5,686
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets	(5,272)	(2,575)	(10,183)	(5,085)
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost	(5,257)	(2,588)	(10,190)	(5,107)
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets	5,272	2,575	10,183	5,085
Hawaiian Electric Company, Inc. and Subsidiaries | Amount reclassified from AOCI
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(15)	13	7	22
Hawaiian Electric Company, Inc. and Subsidiaries | Retirement benefit plans | Amount reclassified from AOCI
Reclassifications out of accumulated other comprehensive income/(loss)
Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost	5,257	2,588	10,190	5,107
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets	$ (5,272)	$ (2,575)	$ (10,183)	$ (5,085)

Fair value measurements (Detail

Fair value measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financial assets
Available-for-sale investment securities, at fair value	$ 693,520	$ 550,394
Financial liabilities
Short-term borrowings—other than bank	124,543	118,972
Other bank borrowings	314,157	290,656
Carrying or notional amount
Financial assets
Money market funds	10	10
Available-for-sale investment securities, at fair value	693,520	550,394
Stock in Federal Home Loan Bank	10,678	69,302
Loans receivable, net	4,416,398	4,397,457
Derivative assets	454	398
Financial liabilities
Deposit liabilities	4,803,271	4,623,415
Short-term borrowings—other than bank	124,543	118,972
Other bank borrowings	314,157	290,656
Long-term debt, net-other than bank	1,506,546	1,506,546
Derivative liabilities	15	114
Carrying or notional amount | American Savings Bank (ASB)
Financial liabilities
Notional amount of loans serviced	1,500,000	1,400,000
Estimated fair value
Financial assets
Money market funds	10	10
Available-for-sale investment securities, at fair value	693,520	550,394
Stock in Federal Home Loan Bank	10,678	69,302
Loans receivable, net	4,578,184	4,578,822
Derivative assets	454	398
Financial liabilities
Deposit liabilities	4,802,813	4,623,773
Short-term borrowings—other than bank	124,543	118,972
Other bank borrowings	321,317	298,837
Long-term debt, net-other than bank	1,602,894	1,622,736
Derivative liabilities	15	114
Estimated fair value | Level 1
Financial assets
Derivative assets	2	0
Financial liabilities
Derivative liabilities	0	71
Estimated fair value | Level 2
Financial assets
Money market funds	10	10
Available-for-sale investment securities, at fair value	693,520	550,394
Stock in Federal Home Loan Bank	10,678	69,302
Derivative assets	452	398
Financial liabilities
Deposit liabilities	4,802,813	4,623,773
Short-term borrowings—other than bank	124,543	118,972
Other bank borrowings	321,317	298,837
Long-term debt, net-other than bank	1,602,894	1,622,736
Derivative liabilities	15	43
Estimated fair value | Level 3
Financial assets
Loans receivable, net	4,578,184	4,578,822
Estimated fair value | American Savings Bank (ASB)
Financial liabilities
Servicing rights on loans	15,200	14,500
Hawaiian Electric Company | Carrying or notional amount
Financial liabilities
Short-term Debt, Fair Value	88,993
Long-term debt, net-other than bank	1,206,546	1,206,546
Hawaiian Electric Company | Estimated fair value
Financial liabilities
Short-term Debt, Fair Value	88,993
Long-term debt, net-other than bank	1,295,917	1,313,893
Hawaiian Electric Company | Estimated fair value | Level 2
Financial liabilities
Short-term Debt, Fair Value	88,993
Long-term debt, net-other than bank	$ 1,295,917	$ 1,313,893

Fair value measurements (Deta76

Fair value measurements (Details 2) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Fair value measurements on a recurring basis
Available-for-sale securities	$ 693,520,000	$ 550,394,000
Level 1 | Interest rate lock commitments
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 1
Derivative assets
Derivative assets	2,000	0
Derivative liabilities
Derivative liabilities	0	71,000
Fair value measurements on a recurring basis | Level 1 | Forward sale contracts
Derivative assets
Derivative assets	2,000	0
Derivative liabilities
Derivative liabilities	0	71,000
Fair value measurements on a recurring basis | Level 2
Derivative assets
Derivative assets	452,000	398,000
Derivative liabilities
Derivative liabilities	15,000	43,000
Fair value measurements on a recurring basis | Level 2 | Interest rate lock commitments
Derivative assets
Derivative assets	448,000	393,000
Derivative liabilities
Derivative liabilities	2,000	3,000
Fair value measurements on a recurring basis | Level 2 | Forward sale contracts
Derivative assets
Derivative assets	4,000	5,000
Derivative liabilities
Derivative liabilities	13,000	40,000
Fair value measurements on a recurring basis | Level 2 | Bank
Fair value measurements on a recurring basis
Available-for-sale securities	693,520,000	550,394,000
Fair value measurements on a recurring basis | Level 2 | Other
Fair value measurements on a recurring basis
Money market funds	10,000	10,000
Fair value measurements on a recurring basis | Level 2 | Mortgage-related securities - FNMA, FHLMC and GNMA | Bank
Fair value measurements on a recurring basis
Available-for-sale securities	525,061,000	430,834,000
Fair value measurements on a recurring basis | Level 2 | U.S. Treasury federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale securities	168,459,000	119,560,000
Fair value measurements on a nonrecurring basis | American Savings Bank (ASB)
Derivative liabilities
Adjustments to fair value of loans held for sale	0	0
Fair value measurements on a nonrecurring basis | Level 3
Derivative liabilities
Loans	658,000	2,445,000
Real estate acquired in settlement of loans		288,000
Estimated fair value
Fair value measurements on a recurring basis
Money market funds	10,000	10,000
Available-for-sale securities	693,520,000	550,394,000
Derivative assets
Derivative assets	454,000	398,000
Derivative liabilities
Derivative liabilities	15,000	114,000
Loans	4,578,184,000	4,578,822,000
Estimated fair value | Level 1
Derivative assets
Derivative assets	2,000	0
Derivative liabilities
Derivative liabilities	0	71,000
Estimated fair value | Level 2
Fair value measurements on a recurring basis
Money market funds	10,000	10,000
Available-for-sale securities	693,520,000	550,394,000
Derivative assets
Derivative assets	452,000	398,000
Derivative liabilities
Derivative liabilities	15,000	43,000
Estimated fair value | Level 3
Derivative liabilities
Loans	4,578,184,000	4,578,822,000
Estimated fair value | Fair value measurements on a nonrecurring basis
Derivative liabilities
Loans	$ 658,000	2,445,000
Real estate acquired in settlement of loans		$ 288,000

Fair value measurements (Deta77

Fair value measurements (Details 3) - Fair Value, Inputs, Level 3 - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Fair value measurements
Fair value	$ 658	$ 2,445
Residential loan | Fair value of property or collateral
Fair value measurements
Fair value	$ 658	$ 2,297
Appraised value, selling cost		7.00%
Appraised value, weighted average rate (as a percent)	66.00%	83.00%
Residential loan | Fair value of property or collateral | Minimum
Fair value measurements
Appraised value (as a percent)	31.00%	39.00%
Residential loan | Fair value of property or collateral | Maximum
Fair value measurements
Appraised value (as a percent)	91.00%	99.00%
Home equity line of credit | Fair value of property or collateral
Fair value measurements
Fair value		$ 3
Appraised value, selling cost		7.00%
Appraised value, weighted average rate (as a percent)		7.00%
Commercial loans | Fair value of property or collateral
Fair value measurements
Fair value		$ 145
Fair value, weighted average rate (as a percent)		91.00%
Real estate acquired in settlement of loans | Fair value of property or collateral
Fair value measurements
Fair value		$ 288
Appraised value, selling cost		7.00%
Appraised value (as a percent)		100.00%
Appraised value, weighted average rate (as a percent)		100.00%

Cash flows (Details)

Cash flows (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Supplemental disclosures of cash flow information
Interest paid	$ 41	$ 44
Income taxes paid	35	22
Income taxes refunded	55	24
Supplemental disclosures of noncash activities
Increases in common stock related to director and officer compensatory plans (financing)	0	2
Real estate acquired in settlement of loans (investing)	0	2
Real estate transferred from property, plant and equipment to other assets held-for-sale (investing)	5	0
Obligations to fund low income housing investments (operating)	0	8
Hawaiian Electric Company, Inc. and Subsidiaries
Supplemental disclosures of cash flow information
Interest paid	30	31
Income taxes paid	9	6
Income taxes refunded	12	8
Supplemental disclosures of noncash activities
Additions to electric utility property, plant and equipment - unpaid invoices and other (investing)	$ 53	$ 28

Recent Accounting Pronounceme79

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Jan. 01, 2014	Dec. 31, 2013
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total expenses	$ 551,182	$ 715,474	$ 1,119,538	$ 1,410,009
Operating income	72,730	83,183	142,236	172,397
Income taxes	20,911	23,317	40,890	49,038
Net income for common stock	35,018	41,281	66,884	87,068
Other	493,151		493,151		$ 542,523
Liabilities and Equity	11,439,631		11,439,631		11,185,142
Deferred Income Tax Liabilities And Other Liabilities					633,570
Liabilities	9,506,818		9,506,818		9,360,276
Retained earnings	298,398		298,398		296,654		$ 255,030
Common stock equity	1,898,520	1,759,935	1,898,520	1,759,935	1,790,573		1,726,406
American Savings Bank (ASB)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adoption of new accounting principle in period						$ 700
Low income housing tax credits, amortization	1,200		2,500
Low income housing tax credits, tax credits	1,200		2,600
Low income housing tax credits, other tax benefits	500		1,100
Income taxes	6,875	6,420	14,031	14,553
Net income for common stock		11,536		25,935
Other	305,310		305,310		305,416
Liabilities and Equity	5,777,098		5,777,098		5,566,222
Deferred Income Tax Liabilities And Other Liabilities					118,363
Liabilities	5,230,443		5,230,443		5,032,434
Retained earnings	223,260		223,260		211,934
Common stock equity	546,655		546,655		533,788
Scenario, Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income taxes		22,269		46,942
Net income for common stock		41,421		87,348
Other					541,542
Liabilities and Equity					11,184,161
Deferred Income Tax Liabilities And Other Liabilities					631,734
Liabilities					9,358,440
Retained earnings					297,509		255,694
Common stock equity					1,791,428		1,727,070
Scenario, Previously Reported | American Savings Bank (ASB)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income taxes		5,372		12,457
Net income for common stock		11,676		26,215
Other					304,435
Liabilities and Equity					5,565,241
Deferred Income Tax Liabilities And Other Liabilities					116,527
Liabilities					5,030,598
Retained earnings					212,789
Common stock equity					534,643
Accounting Standards Update 2014-01 | Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income taxes		1,048		2,096
Net income for common stock		(140)		(280)
Other					981
Liabilities and Equity					981
Deferred Income Tax Liabilities And Other Liabilities					1,836
Liabilities					1,836
Retained earnings					(855)		(664)
Common stock equity					(855)		$ (664)
Accounting Standards Update 2014-01 | Restatement Adjustment | American Savings Bank (ASB)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income taxes		1,048		2,096
Net income for common stock		(140)		(280)
Other					981
Liabilities and Equity					981
Deferred Income Tax Liabilities And Other Liabilities					1,836
Liabilities					1,836
Retained earnings					(855)
Common stock equity					$ (855)
Bank
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total expenses	46,057	42,660	89,774	83,748
Operating income	19,726	17,956	40,357	40,487
Income taxes	6,875	6,420	14,031	14,553
Net income for common stock	$ 12,851	11,536	$ 26,326	25,935
Bank | American Savings Bank (ASB)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total expenses		38,982		76,444
Operating income		17,956		40,488
Bank | Scenario, Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total expenses		43,568		85,564
Operating income		17,048		38,671
Bank | Scenario, Previously Reported | American Savings Bank (ASB)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total expenses		39,890		78,260
Operating income		17,048		38,672
Bank | Accounting Standards Update 2014-01 | Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total expenses		(908)		(1,816)
Operating income		908		1,816
Bank | Accounting Standards Update 2014-01 | Restatement Adjustment | American Savings Bank (ASB)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total expenses		(908)		(1,816)
Operating income		$ 908		$ 1,816

Credit agreements and long-te80

Credit agreements and long-term debt (Details)	May. 05, 2014USD ($)	May. 02, 2014USD ($)	Apr. 02, 2014USD ($)Institution	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Apr. 01, 2014USD ($)
Credit agreement
Number of financial institutions | Institution			9
Actual capitalization ratio (as a percent)				15.00%
Ratio of consolidated subsidiary debt to total consolidated capitalization required to be maintained as per the debt covenant (as a percent)			65.00%
Ratio of consolidated capitalization required to be maintained as per the debt covenant (as a percent)			35.00%
Actual ratio of consolidated debt to total consolidated capitalization (as a percent)				56.00%
Changes in long-term debt
Long-term debt				$ 0	$ 125,000,000
Maximum
Credit agreement
Capitalization ratio required to be maintained as per the debt covenant (as a percent)			50.00%
HELCO
Credit agreement
Actual ratio of consolidated subsidiary debt to total consolidated capitalization (as a percent)				41.00%
Maui Electric
Credit agreement
Actual ratio of consolidated subsidiary debt to total consolidated capitalization (as a percent)				42.00%
Line of credit facility
Credit agreement
Revolving noncollateralized credit facility with a letter of credit sub-facility			$ 150,000,000			$ 125,000,000
Unused capacity commitment fee			0.20%
Line of credit facility | Hawaiian Electric Company
Credit agreement
Revolving noncollateralized credit facility with a letter of credit sub-facility			$ 200,000,000			$ 175,000,000
Unused capacity commitment fee			0.175%
Eurodollar term loan | Loans payable
Changes in long-term debt
Long-term debt		$ 125,000,000
Term of loan		2 years
Eurodollar term loan | Loans payable | Minimum
Changes in long-term debt
Initial interest rate for initial period		1.12%
Eurodollar term loan | Loans payable | Maximum
Changes in long-term debt
Initial interest rate for initial period		1.18%
Medium-term Notes 6.51 Percent Due 2014 | Medium-term note
Changes in long-term debt
Repayments of debt	$ 100,000,000
Debt instrument, stated interest rate (as a percent)	6.51%
Adjusted LIBOR Rate | Line of credit facility
Credit agreement
Basis spread on variable rate			1.375%
Adjusted LIBOR Rate | Line of credit facility | Hawaiian Electric Company
Credit agreement
Basis spread on variable rate			1.25%