Hawaiian Electric Company, Inc. PFD H 5.250% (HAWLM) 10-K/A 16 Nov 15 2014 FY Annual report (amended) Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2014	Feb. 13, 2015	Jun. 30, 2014
Entity Information [Line Items]
Entity Registrant Name	HAWAIIAN ELECTRIC INDUSTRIES INC
Entity Central Index Key	354,707
Document Type	10-K
Document Period End Date	Dec. 31, 2014
Amendment Flag	true
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 2,571,503,656
Entity Common Stock, Shares Outstanding		102,710,867
Document Fiscal Year Focus	2,014
Document Fiscal Period Focus	FY
Amendment Description	HEI and Hawaiian Electric are filing this Amendment No. 1 on Form 10-K/A (the Amended Filing) to amend certain parts of their Annual Report on 2014 Form 10-K, originally filed with the Securities and Exchange Commission (SEC) on February 26, 2015 (the Original Filing).
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-K
Document Period End Date	Dec. 31, 2014
Amendment Flag	true
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		15,805,327
Document Fiscal Year Focus	2,014
Document Fiscal Period Focus	FY

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012
Revenues
Total revenues	$ 3,239,542	$ 3,238,470		$ 3,374,995
Expenses
Total expenses	2,910,618	2,923,051		3,090,799
Operating income (loss)
Total operating income	328,924	315,419		284,196
Interest expense, net – other than on deposit liabilities and other bank borrowings	(76,352)	(75,479)		(78,151)
Allowance for borrowed funds used during construction	2,579	2,246		4,355
Allowance for equity funds used during construction	6,771	5,561	[1]	7,007	[1]
Income before income taxes	261,922	247,747		217,407
Income taxes	91,712	84,341		76,859
Net income	170,210	163,406	[1]	140,548	[1]
Preferred stock dividends of subsidiaries	1,890	1,890		1,890
Net income for common stock	$ 168,320	$ 161,516		$ 138,658
Basic earnings per common share (in dollars per share)	$ 1.65	$ 1.63		$ 1.43
Diluted earnings per common share (in dollars per share)	1.64	1.62		1.42
Dividends per common share (in dollars per share)	$ 1.24	$ 1.24		$ 1.24
Weighted-average number of common shares outstanding (in shares)	101,968	98,968		96,908
Net effect of potentially dilutive shares (in shares)	969	655		430
Adjusted weighted-average shares (in shares)	102,937	99,623		97,338
Hawaiian Electric Company, Inc. and Subsidiaries
Revenues
Total revenues	$ 2,987,323	$ 2,980,172		$ 3,109,439
Expenses
Total expenses	2,711,555	2,734,659		2,896,427
Fuel oil	1,131,685	1,185,552		1,297,419
Purchased power	722,008	710,681		724,240
Other operation and maintenance	410,612	403,270		397,429
Depreciation	166,387	154,025		144,498
Taxes, other than income taxes	280,863	281,131		292,841
Impairment of utility assets	0	0		40,000
Operating income (loss)
Total operating income	275,768	245,513		213,012
Allowance for borrowed funds used during construction	2,579	2,246		4,355
Allowance for equity funds used during construction	6,771	5,561	[1]	7,007	[1]
Interest expense and other charges, net	(64,757)	(59,279)		(62,055)
Income before income taxes	220,361	194,041		162,319
Income taxes	80,725	69,117		61,048
Net income	139,636	124,924	[1]	101,271	[1]
Preferred stock dividends of subsidiaries	915	915		915
Net income attributable to Hawaiian Electric	138,721	124,009		100,356
Preferred stock dividends of Hawaiian Electric	1,080	1,080		1,080
Net income for common stock	137,641	122,929		99,276
Electric utility
Revenues
Total revenues	2,987,323	2,980,172		3,109,439
Expenses
Total expenses	2,711,555	2,734,659		2,896,427
Operating income (loss)
Total operating income	275,768	245,513		213,012
Income before income taxes	220,361	194,041		162,319
Income taxes	80,725	69,117		61,048
Net income	139,636	124,924		101,271
Preferred stock dividends of subsidiaries	1,995	1,995		1,995
Net income for common stock	137,641	122,929		99,276
Bank
Revenues
Total revenues	252,497	258,147		265,539
Expenses
Total expenses	176,878	171,090		177,106
Operating income (loss)
Total operating income	75,619	87,057		88,433
Income before income taxes	75,619	87,059		89,021
Income taxes	24,127	29,525		30,384
Net income	51,492	57,534		58,637
Preferred stock dividends of subsidiaries	0	0		0
Net income for common stock	51,492	57,534		58,637
Other
Revenues
Total revenues	(278)	151		17
Expenses
Total expenses	22,185	17,302		17,266
Operating income (loss)
Total operating income	(22,463)	(17,151)		(17,249)
Income before income taxes	(34,058)	(33,353)		(33,933)
Income taxes	(13,140)	(14,301)		(14,573)
Net income	(20,918)	(19,052)		(19,360)
Preferred stock dividends of subsidiaries	(105)	(105)		(105)
Net income for common stock	$ (20,813)	$ (18,947)		$ (19,255)
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net income for common stock	$ 168,320	$ 161,516	$ 138,658
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 $(3,856), $9,037 and ($631) for 2014, 2013 and 2012, respectively	5,840	(13,686)	956
Less: reclassification adjustment for net realized gains included in net income, net of taxes of $1,132, $488 and $53 for 2014, 2013 and 2012, respectively	(1,715)	(738)	(81)
Derivatives qualified as cash flow hedges:
Less: reclassification adjustment to net income, net of tax benefits of $150, $150 and $150 for 2014, 2013 and 2012, respectively	236	235	236
Retirement benefit plans:
Net gains (losses) arising during the period, net of (taxes) benefits	(234,166)	223,177	(99,159)
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	11,344	23,280	15,291
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of (taxes) benefits	207,833	(222,595)	75,471
Other comprehensive income (loss), net of taxes	(10,628)	9,673	(7,286)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	157,692	171,189	131,372
Hawaiian Electric Company, Inc. and Subsidiaries
Net income for common stock	137,641	122,929	99,276
Retirement benefit plans:
Net gains (losses) arising during the period, net of (taxes) benefits	(218,608)	203,479	(90,082)
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	10,212	20,694	13,673
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of (taxes) benefits	207,833	(222,595)	75,471
Other comprehensive income (loss), net of taxes	(563)	1,578	(938)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 137,078	$ 124,507	$ 98,338

Consolidated Statements of Com4

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net unrealized gains (losses) on securities arising during the period, taxes	$ (3,856)	$ 9,037	$ (631)
Less: reclassification adjustment for net realized gains included in net income, taxes	1,132	488	53
Less: reclassification adjustment to net income, net of tax benefits of $150, $150 and $150 for 2014, 2013 and 2012, respectively	150	150	150
Net gains (losses) arising during the period, tax benefits	(149,364)	142,478	(63,303)
Less: amortization of net loss, prior service gain and transition obligation included in net periodic benefit cost, tax benefits	(7,245)	(14,870)	(9,764)
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of (taxes) benefits of ($132,373), $141,777 and ($48,299) for 2014, 2013 and 2012, respectively	(132,373)	141,777	(48,299)
Hawaiian Electric Company, Inc. and Subsidiaries
Net gains (losses) arising during the period, tax benefits	(139,236)	129,601	(57,375)
Less: amortization of net loss, prior service gain and transition obligation included in net periodic benefit cost, tax benefits	(6,504)	(13,180)	(8,709)
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of (taxes) benefits of ($132,373), $141,777 and ($48,299) for 2014, 2013 and 2012, respectively	$ (132,373)	$ 141,777	$ (48,069)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 175,542,000	$ 220,036,000	[1]
Accounts receivable and unbilled revenues, net	313,696,000	346,785,000
Available-for-sale investment securities	550,394,000	529,007,000
Stock in Federal Home Loan Bank of Seattle, at cost	69,302,000	92,546,000
Loans receivable held for investment, net	4,389,033,000	4,110,113,000
Loans held for sale, at lower of cost or fair value	8,424,000	5,302,000
Property, plant and equipment, net
Land	94,093,000	74,272,000
Plant and equipment	6,137,417,000	5,836,922,000
Construction in progress	168,214,000	146,742,000
Property, plant and equipment, gross	6,399,724,000	6,057,936,000
Less - accumulated depreciation	(2,250,950,000)	(2,192,422,000)
Property, plant and equipment, net	4,148,774,000	3,865,514,000
Regulatory assets	905,264,000	575,924,000
Other	541,542,000	512,627,000
Goodwill	82,190,000	82,190,000
Other long-term assets
Total assets	11,184,161,000	10,340,044,000
Liabilities
Accounts payable	186,425,000	212,331,000
Interest and dividends payable	25,336,000	26,716,000
Deposit liabilities	4,623,415,000	4,372,477,000
Short-term borrowings-other than bank	118,972,000	105,482,000
Other bank borrowings	290,656,000	244,514,000
Long-term debt, net-other than bank	1,506,546,000	1,492,945,000
Deferred income taxes	631,734,000	529,260,000
Regulatory liabilities	344,849,000	349,299,000
Contributions in aid of construction	466,432,000	432,894,000
Defined benefit pension and other postretirement benefit plans liability	632,845,000	288,539,000
Other	531,230,000	524,224,000
Deferred credits and other liabilities
Total liabilities	9,358,440,000	8,578,681,000
Preferred stock of subsidiaries - not subject to mandatory redemption	$ 34,293,000	$ 34,293,000
Commitments and contingencies (Notes 4 and 5)
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: 102,565,266 shares and 101,259,800 shares at December 31, 2014 and 2013, respectively	1,521,297,000	1,488,126,000
Retained earnings	297,509,000	255,694,000
Accumulated other comprehensive income (loss), net of taxes:
Net unrealized gains (losses) on securities	462,000	(3,663,000)
Unrealized losses on derivatives	(289,000)	(525,000)
Retirement benefit plans	(27,551,000)	(12,562,000)
Accumulated other comprehensive income (loss), net of taxes	(27,378,000)	(16,750,000)
Total shareholders' equity	1,791,428,000	1,727,070,000
Total liabilities and shareholders' equity	11,184,161,000	10,340,044,000
Hawaiian Electric Company, Inc. and Subsidiaries
Property, plant and equipment, net
Property, plant and equipment, net	4,051,450,000	3,792,329,000
Utility plant, at cost
Land	52,299,000	51,883,000
Plant and equipment	6,009,482,000	5,701,875,000
Less accumulated depreciation	(2,175,510,000)	(2,111,229,000)
Construction in progress	158,616,000	143,233,000
Utility property, plant and equipment, net	4,044,887,000	3,785,762,000
Nonutility property, plant and equipment, less accumulated depreciation of $1,227 and $1,223 at respective dates	6,563,000	6,567,000
Current assets
Cash and equivalents	13,762,000	62,825,000	[1]
Customer accounts receivable, net	158,484,000	175,448,000
Accrued unbilled revenues, net	137,374,000	144,124,000
Other accounts receivable, net	4,283,000	14,062,000
Fuel oil stock, at average cost	106,046,000	134,087,000
Materials and supplies, at average cost	57,250,000	59,044,000
Prepayments and other	66,383,000	52,857,000
Regulatory assets	71,421,000	69,738,000
Total current assets	615,003,000	712,185,000
Other long-term assets
Regulatory assets	833,843,000	506,186,000
Unamortized debt expense	8,323,000	9,003,000
Other	81,838,000	67,426,000
Total other long-term assets	924,004,000	582,615,000
Total assets	5,590,457,000	5,087,129,000
Liabilities
Interest and dividends payable	22,316,000	21,652,000
Deferred income taxes	602,872,000	507,161,000
Regulatory liabilities	344,849,000	349,299,000
Contributions in aid of construction	466,432,000	432,894,000
Long-term debt, net	1,206,546,000	1,206,545,000
Total capitalization	2,922,983,000	2,834,402,000
Current liabilities
Current portion of long-term debt	0	11,400,000
Accounts payable	163,934,000	189,559,000
Taxes accrued	250,402,000	249,445,000
Regulatory liabilities	632,000	1,916,000
Other	65,146,000	63,881,000
Total current liabilities	502,430,000	537,853,000
Deferred credits and other liabilities
Regulatory liabilities	344,217,000	347,383,000
Unamortized tax credits	79,492,000	73,539,000
Retirement benefits liability	595,395,000	262,162,000
Other	76,636,000	91,735,000
Total deferred credits and other liabilities	1,698,612,000	1,281,980,000
Preferred stock of subsidiaries - not subject to mandatory redemption	$ 34,293,000	$ 34,293,000
Commitments and contingencies (Notes 4 and 5)
Shareholders' equity
Preferred stock, no par value, authorized 10,000,000 shares; issued: none	$ 34,293,000	$ 34,293,000
Retained earnings	997,773,000	948,624,000
Accumulated other comprehensive income (loss), net of taxes:
Retirement benefit plans	45,000	608,000
Total shareholders' equity	1,682,144,000	1,593,564,000
Total liabilities and shareholders' equity	$ 5,590,457,000	$ 5,087,129,000
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
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	102,565,266	101,259,800
Common stock, outstanding shares	102,565,266	101,259,800
Nonutility property, plant and equipment, accumulated depreciation	$ 1,227	$ 1,223

Consolidated Statements of Capi

Consolidated Statements of Capitalization - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Common stock equity
Retained earnings	$ 297,509,000	$ 255,694,000
Accumulated other comprehensive income (loss), net of taxes - retirement benefit plans	(27,551,000)	(12,562,000)
Total shareholders' equity	1,791,428,000	1,727,070,000
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293,000	34,293,000
Hawaiian Electric Company, Inc. and Subsidiaries
Common stock equity
Common stock of $6 2/3 par value, Authorized: 50,000,000 shares. Outstanding: 2014, 15,805,327 shares and 2013, 15,429,105 shares	105,388,000	102,880,000
Additional paid in capital	578,938,000	541,452,000
Retained earnings	997,773,000	948,624,000
Accumulated other comprehensive income (loss), net of taxes - retirement benefit plans	45,000	608,000
Total shareholders' equity	$ 1,682,144,000	$ 1,593,564,000
Shares outstanding December 31, 2013	1,234,657	1,234,657
Preferred stock of subsidiaries - not subject to mandatory redemption	$ 34,293,000	$ 34,293,000
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):
Secured long-term debt	462,000,000	473,400,000
Other long-term debt – unsecured:
Other long-term debt - unsecured	744,546,000	744,546,000
Total long-term debt	1,206,546,000	1,217,946,000
Less unamortized discount	0	1,000
Current portion of long-term debt	0	11,400,000
Long-term debt, net	1,206,546,000	1,206,545,000
Total capitalization	$ 2,922,983,000	$ 2,834,402,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series C, 4.25% Preferred Stock
Common stock equity
Preferred Stock, Par Value (in dollars per share)	$ 20	$ 20
Shares outstanding December 31, 2013	150,000	150,000
Preferred stock of subsidiaries - not subject to mandatory redemption	$ 3,000,000	$ 3,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series D, 5.00% Preferred Stock
Common stock equity
Preferred Stock, Par Value (in dollars per share)	$ 20	$ 20
Shares outstanding December 31, 2013	50,000	50,000
Preferred stock of subsidiaries - not subject to mandatory redemption	$ 1,000,000	$ 1,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series E, 5.00% Preferred Stock
Common stock equity
Preferred Stock, Par Value (in dollars per share)	$ 20	$ 20
Shares outstanding December 31, 2013	150,000	150,000
Preferred stock of subsidiaries - not subject to mandatory redemption	$ 3,000,000	$ 3,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series H, 5.25% Preferred Stock
Common stock equity
Preferred Stock, Par Value (in dollars per share)	$ 20	$ 20
Shares outstanding December 31, 2013	250,000	250,000
Preferred stock of subsidiaries - not subject to mandatory redemption	$ 5,000,000	$ 5,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series I, 5.00% Preferred Stock
Common stock equity
Preferred Stock, Par Value (in dollars per share)	$ 20	$ 20
Shares outstanding December 31, 2013	89,657	89,657
Preferred stock of subsidiaries - not subject to mandatory redemption	$ 1,793,000	$ 1,793,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series J, 4.75% Preferred Stock
Common stock equity
Preferred Stock, Par Value (in dollars per share)	$ 20	$ 20
Shares outstanding December 31, 2013	250,000	250,000
Preferred stock of subsidiaries - not subject to mandatory redemption	$ 5,000,000	$ 5,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series K, 4.65% Preferred Stock
Common stock equity
Preferred Stock, Par Value (in dollars per share)	$ 20	$ 20
Shares outstanding December 31, 2013	175,000	175,000
Preferred stock of subsidiaries - not subject to mandatory redemption	$ 3,500,000	$ 3,500,000
Hawaiian Electric Company, Inc. and Subsidiaries | Senior notes
Other long-term debt – unsecured:
Other long-term debt - unsecured	693,000,000	693,000,000
Hawaiian Electric Company, Inc (HECO)
Common stock equity
Total shareholders' equity	1,682,144,000	1,593,564,000
Other long-term debt – unsecured:
Current portion of long-term debt	0
Long-term debt, net	830,546,000	830,547,000
Total capitalization	$ 2,534,983,000	$ 2,446,404,000
Hawaiian Electric Company, Inc (HECO) | 6.50%, series 2009, due 2039
Debt instrument, stated interest rate (as a percent)	6.50%	6.50%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):
Secured long-term debt	$ 90,000,000	$ 90,000,000
Hawaiian Electric Company, Inc (HECO) | 4.60%, refunding series 2007B, due 2026
Debt instrument, stated interest rate (as a percent)	4.60%	4.60%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):
Secured long-term debt	$ 62,000,000	$ 62,000,000
Hawaiian Electric Company, Inc (HECO) | 4.65%, series 2007A, due 2037
Debt instrument, stated interest rate (as a percent)	4.65%	4.65%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):
Secured long-term debt	$ 100,000,000	$ 100,000,000
Hawaiian Electric Company, Inc (HECO) | 4.80%, refunding series 2005A, due 2025
Debt instrument, stated interest rate (as a percent)	4.80%	4.80%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):
Secured long-term debt	$ 40,000,000	$ 40,000,000
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 4.45%, Series 2013A, due 2022
Debt instrument, stated interest rate (as a percent)	4.45%	4.45%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 40,000,000	$ 40,000,000
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 4.84%, Series 2013B, due 2027
Debt instrument, stated interest rate (as a percent)	4.84%	4.84%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 50,000,000	$ 50,000,000
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 5.65%, Series 2013C, due 2043
Debt instrument, stated interest rate (as a percent)	5.65%	5.65%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 50,000,000	$ 50,000,000
Hawaiian Electric Company, Inc (HECO) | Senior notes 3.79%, Series 2012A, due 2018
Debt instrument, stated interest rate (as a percent)	3.79%	3.79%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 30,000,000	$ 30,000,000
Hawaiian Electric Company, Inc (HECO) | Senior notes 4.03%, Series 2012B, due 2020
Debt instrument, stated interest rate (as a percent)	4.03%	4.03%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 62,000,000	$ 62,000,000
Hawaiian Electric Company, Inc (HECO) | Senior notes 4.55%, due 2023
Debt instrument, stated interest rate (as a percent)	4.55%	4.55%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 50,000,000	$ 50,000,000
Hawaiian Electric Company, Inc (HECO) | Senior notes 4.72%, Series 2012D, due 2029
Debt instrument, stated interest rate (as a percent)	4.72%	4.72%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 35,000,000	$ 35,000,000
Hawaiian Electric Company, Inc (HECO) | Senior notes 5.39%, Series, 2012E, due 2042
Debt instrument, stated interest rate (as a percent)	5.39%	5.39%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 150,000,000	$ 150,000,000
Hawaiian Electric Company, Inc (HECO) | Senior notes 4.53%, Series, 2012F, due 2032
Debt instrument, stated interest rate (as a percent)	4.53%	4.53%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 40,000,000	$ 40,000,000
Hawaiian Electric Company, Inc (HECO) | 6.50% Junior subordinated deferrable interest debentures, series 2004, due 2034
Debt instrument, stated interest rate (as a percent)	6.50%	6.50%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 51,546,000	$ 51,546,000
Hawaii Electric Light Company, Inc. (HELCO)
Common stock equity
Total shareholders' equity	281,846,000	274,802,000
Other long-term debt – unsecured:
Current portion of long-term debt	0	11,400,000
Long-term debt, net	190,000,000	189,998,000
Total capitalization	$ 478,846,000	$ 471,800,000
Hawaii Electric Light Company, Inc. (HELCO) | Series G, 7.625% Preferred Stock
Common stock equity
Preferred Stock, Par Value (in dollars per share)	$ 100	$ 100
Shares outstanding December 31, 2013	70,000	70,000
Preferred stock of subsidiaries - not subject to mandatory redemption	$ 7,000,000	$ 7,000,000
Hawaii Electric Light Company, Inc. (HELCO) | 6.50%, series 2009, due 2039
Debt instrument, stated interest rate (as a percent)	6.50%	6.50%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):
Secured long-term debt	$ 60,000,000	$ 60,000,000
Hawaii Electric Light Company, Inc. (HELCO) | 4.60%, refunding series 2007B, due 2026
Debt instrument, stated interest rate (as a percent)	4.60%	4.60%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):
Secured long-term debt	$ 8,000,000	$ 8,000,000
Hawaii Electric Light Company, Inc. (HELCO) | 4.65%, series 2007A, due 2037
Debt instrument, stated interest rate (as a percent)	4.65%	4.65%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):
Secured long-term debt	$ 20,000,000	$ 20,000,000
Hawaii Electric Light Company, Inc. (HELCO) | 4.80%, refunding series 2005A, due 2025
Debt instrument, stated interest rate (as a percent)	4.80%	4.80%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):
Secured long-term debt	$ 5,000,000	$ 5,000,000
Hawaii Electric Light Company, Inc. (HELCO) | 5.50%, refunding series 1999A, due 2014
Debt instrument, stated interest rate (as a percent)		5.50%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):
Secured long-term debt	$ 0	$ 11,400,000
Hawaii Electric Light Company, Inc. (HELCO) | Hawaii Electric Light, 3.83%, Series 2013A, due 2020
Debt instrument, stated interest rate (as a percent)	3.83%	3.83%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 14,000,000	$ 14,000,000
Hawaii Electric Light Company, Inc. (HELCO) | Hawaii Electric Light, 4.45%, Series 2013B, due 2022
Debt instrument, stated interest rate (as a percent)	4.45%	4.45%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 12,000,000	$ 12,000,000
Hawaii Electric Light Company, Inc. (HELCO) | Hawaii Electric Light, 4.84%, Series 2013C, due 2027
Debt instrument, stated interest rate (as a percent)	4.84%	4.84%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 30,000,000	$ 30,000,000
Hawaii Electric Light Company, Inc. (HELCO) | Senior notes 3.79%, Series 2012A, due 2018
Debt instrument, stated interest rate (as a percent)	3.79%	3.79%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 11,000,000	$ 11,000,000
Hawaii Electric Light Company, Inc. (HELCO) | Senior notes 4.55%, due 2023
Debt instrument, stated interest rate (as a percent)	4.55%	4.55%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 20,000,000	$ 20,000,000
Maui Electric Company, Limited (MECO)
Common stock equity
Total shareholders' equity	256,692,000	248,771,000
Other long-term debt – unsecured:
Current portion of long-term debt	0
Long-term debt, net	186,000,000	186,000,000
Total capitalization	$ 447,692,000	$ 439,771,000
Maui Electric Company, Limited (MECO) | Series H, 7.625% Preferred Stock
Common stock equity
Preferred Stock, Par Value (in dollars per share)	$ 100	$ 100
Shares outstanding December 31, 2013	50,000	50,000
Preferred stock of subsidiaries - not subject to mandatory redemption	$ 5,000,000	$ 5,000,000
Maui Electric Company, Limited (MECO) | 4.60%, refunding series 2007B, due 2026
Debt instrument, stated interest rate (as a percent)	4.60%	4.60%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):
Secured long-term debt	$ 55,000,000	$ 55,000,000
Maui Electric Company, Limited (MECO) | 4.65%, series 2007A, due 2037
Debt instrument, stated interest rate (as a percent)	4.65%	4.65%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):
Secured long-term debt	$ 20,000,000	$ 20,000,000
Maui Electric Company, Limited (MECO) | 4.80%, refunding series 2005A, due 2025
Debt instrument, stated interest rate (as a percent)	4.80%	4.80%
Obligations to the State of Hawaii for the repayment of Special Purpose Revenue Bonds (subsidiary obligations unconditionally guaranteed by Hawaiian Electric):
Secured long-term debt	$ 2,000,000	$ 2,000,000
Maui Electric Company, Limited (MECO) | Maui Electric, 4.84%, Series 2013A, due 2027
Debt instrument, stated interest rate (as a percent)	4.84%	4.84%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 20,000,000	$ 20,000,000
Maui Electric Company, Limited (MECO) | Maui Electric, 5.65%, Series 2013B, due 2043
Debt instrument, stated interest rate (as a percent)	5.65%	5.65%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 20,000,000	$ 20,000,000
Maui Electric Company, Limited (MECO) | Senior notes 3.79%, Series 2012A, due 2018
Debt instrument, stated interest rate (as a percent)	3.79%	3.79%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 9,000,000	$ 9,000,000
Maui Electric Company, Limited (MECO) | Senior notes 4.03%, Series 2012B, due 2020
Debt instrument, stated interest rate (as a percent)	4.03%	4.03%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 20,000,000	$ 20,000,000
Maui Electric Company, Limited (MECO) | Senior notes 4.55%, due 2023
Debt instrument, stated interest rate (as a percent)	4.55%	4.55%
Other long-term debt – unsecured:
Other long-term debt - unsecured	$ 30,000,000	$ 30,000,000

Consolidated Statements of Cap8

Consolidated Statements of Capitalization (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Common stock, authorized shares	200,000,000	200,000,000
Common stock, outstanding shares	102,565,266	101,259,800
Hawaiian Electric Company, Inc. and Subsidiaries
Common stock, authorized shares	50,000,000	50,000,000
Common stock, outstanding shares	15,805,327	15,429,105
Common stock, par value (in dollars per share)	$ 6.667	$ 6.667
Shares outstanding December 31, 2013	1,234,657	1,234,657
Hawaiian Electric Company, Inc. and Subsidiaries | Series C, 4.25% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, dividend rate	4.25%	4.25%
Shares outstanding December 31, 2013	150,000	150,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series D, 5.00% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, dividend rate	5.00%	5.00%
Shares outstanding December 31, 2013	50,000	50,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series E, 5.00% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, dividend rate	5.00%	5.00%
Shares outstanding December 31, 2013	150,000	150,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series H, 5.25% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, dividend rate	5.25%	5.25%
Shares outstanding December 31, 2013	250,000	250,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series I, 5.00% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, dividend rate	5.00%	5.00%
Shares outstanding December 31, 2013	89,657	89,657
Hawaiian Electric Company, Inc. and Subsidiaries | Series J, 4.75% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, dividend rate	4.75%	4.75%
Shares outstanding December 31, 2013	250,000	250,000
Hawaiian Electric Company, Inc. and Subsidiaries | Series K, 4.65% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, dividend rate	4.65%	4.65%
Shares outstanding December 31, 2013	175,000	175,000
Hawaiian Electric Company, Inc. and Subsidiaries | Preferred Stock $20 Par Value
Preferred stock, par value (in dollars per share)	$ 20	$ 20
Preferred stock, Authorized shares	5,000,000	5,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Preferred Stock $100 Par Value
Preferred stock, par value (in dollars per share)	$ 100	$ 100
Preferred stock, Authorized shares	7,000,000	7,000,000
Hawaiian Electric Company, Inc (HECO) | 6.50%, series 2009, due 2039
Debt instrument, stated interest rate (as a percent)	6.50%	6.50%
Hawaiian Electric Company, Inc (HECO) | 4.60%, refunding series 2007B, due 2026
Debt instrument, stated interest rate (as a percent)	4.60%	4.60%
Hawaiian Electric Company, Inc (HECO) | 4.65%, series 2007A, due 2037
Debt instrument, stated interest rate (as a percent)	4.65%	4.65%
Hawaiian Electric Company, Inc (HECO) | 4.80%, refunding series 2005A, due 2025
Debt instrument, stated interest rate (as a percent)	4.80%	4.80%
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 4.45%, Series 2013A, due 2022
Debt instrument, stated interest rate (as a percent)	4.45%	4.45%
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 4.84%, Series 2013B, due 2027
Debt instrument, stated interest rate (as a percent)	4.84%	4.84%
Hawaiian Electric Company, Inc (HECO) | Hawaiian Electric, 5.65%, Series 2013C, due 2043
Debt instrument, stated interest rate (as a percent)	5.65%	5.65%
Hawaiian Electric Company, Inc (HECO) | Senior notes 3.79%, Series 2012A, due 2018
Debt instrument, stated interest rate (as a percent)	3.79%	3.79%
Hawaiian Electric Company, Inc (HECO) | Senior notes 4.03%, Series 2012B, due 2020
Debt instrument, stated interest rate (as a percent)	4.03%	4.03%
Hawaiian Electric Company, Inc (HECO) | Senior notes 4.55%, due 2023
Debt instrument, stated interest rate (as a percent)	4.55%	4.55%
Hawaiian Electric Company, Inc (HECO) | Senior notes 4.72%, Series 2012D, due 2029
Debt instrument, stated interest rate (as a percent)	4.72%	4.72%
Hawaiian Electric Company, Inc (HECO) | Senior notes 5.39%, Series, 2012E, due 2042
Debt instrument, stated interest rate (as a percent)	5.39%	5.39%
Hawaiian Electric Company, Inc (HECO) | Senior notes 4.53%, Series, 2012F, due 2032
Debt instrument, stated interest rate (as a percent)	4.53%	4.53%
Hawaiian Electric Company, Inc (HECO) | 6.50% Junior subordinated deferrable interest debentures, series 2004, due 2034
Debt instrument, stated interest rate (as a percent)	6.50%	6.50%
Hawaii Electric Light Company, Inc. (HELCO) | Series G, 7.625% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 100	$ 100
Preferred stock, dividend rate	7.625%	7.625%
Shares outstanding December 31, 2013	70,000	70,000
Hawaii Electric Light Company, Inc. (HELCO) | 6.50%, series 2009, due 2039
Debt instrument, stated interest rate (as a percent)	6.50%	6.50%
Hawaii Electric Light Company, Inc. (HELCO) | 4.60%, refunding series 2007B, due 2026
Debt instrument, stated interest rate (as a percent)	4.60%	4.60%
Hawaii Electric Light Company, Inc. (HELCO) | 4.65%, series 2007A, due 2037
Debt instrument, stated interest rate (as a percent)	4.65%	4.65%
Hawaii Electric Light Company, Inc. (HELCO) | 4.80%, refunding series 2005A, due 2025
Debt instrument, stated interest rate (as a percent)	4.80%	4.80%
Hawaii Electric Light Company, Inc. (HELCO) | 5.50%, refunding series 1999A, due 2014
Debt instrument, stated interest rate (as a percent)		5.50%
Hawaii Electric Light Company, Inc. (HELCO) | Hawaii Electric Light, 3.83%, Series 2013A, due 2020
Debt instrument, stated interest rate (as a percent)	3.83%	3.83%
Hawaii Electric Light Company, Inc. (HELCO) | Hawaii Electric Light, 4.45%, Series 2013B, due 2022
Debt instrument, stated interest rate (as a percent)	4.45%	4.45%
Hawaii Electric Light Company, Inc. (HELCO) | Hawaii Electric Light, 4.84%, Series 2013C, due 2027
Debt instrument, stated interest rate (as a percent)	4.84%	4.84%
Hawaii Electric Light Company, Inc. (HELCO) | Senior notes 3.79%, Series 2012A, due 2018
Debt instrument, stated interest rate (as a percent)	3.79%	3.79%
Hawaii Electric Light Company, Inc. (HELCO) | Senior notes 4.55%, due 2023
Debt instrument, stated interest rate (as a percent)	4.55%	4.55%
Maui Electric Company, Limited (MECO) | Series H, 7.625% Preferred Stock
Preferred stock, par value (in dollars per share)	$ 100	$ 100
Preferred stock, dividend rate	7.625%	7.625%
Shares outstanding December 31, 2013	50,000	50,000
Maui Electric Company, Limited (MECO) | 4.60%, refunding series 2007B, due 2026
Debt instrument, stated interest rate (as a percent)	4.60%	4.60%
Maui Electric Company, Limited (MECO) | 4.65%, series 2007A, due 2037
Debt instrument, stated interest rate (as a percent)	4.65%	4.65%
Maui Electric Company, Limited (MECO) | 4.80%, refunding series 2005A, due 2025
Debt instrument, stated interest rate (as a percent)	4.80%	4.80%
Maui Electric Company, Limited (MECO) | Maui Electric, 4.84%, Series 2013A, due 2027
Debt instrument, stated interest rate (as a percent)	4.84%	4.84%
Maui Electric Company, Limited (MECO) | Maui Electric, 5.65%, Series 2013B, due 2043
Debt instrument, stated interest rate (as a percent)	5.65%	5.65%
Maui Electric Company, Limited (MECO) | Senior notes 3.79%, Series 2012A, due 2018
Debt instrument, stated interest rate (as a percent)	3.79%	3.79%
Maui Electric Company, Limited (MECO) | Senior notes 4.03%, Series 2012B, due 2020
Debt instrument, stated interest rate (as a percent)	4.03%	4.03%
Maui Electric Company, Limited (MECO) | Senior notes 4.55%, due 2023
Debt instrument, stated interest rate (as a percent)	4.55%	4.55%

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common stock	Retained earnings	Accumulated other comprehensive income (loss)	Hawaiian Electric Company, Inc. and Subsidiaries	Hawaiian Electric Company, Inc. and SubsidiariesCommon stock	Hawaiian Electric Company, Inc. and SubsidiariesPremium on capital stock	Hawaiian Electric Company, Inc. and SubsidiariesRetained earnings	Hawaiian Electric Company, Inc. and SubsidiariesAccumulated other comprehensive income (loss)
Beginning Balance at Dec. 31, 2011	$ 1,528,706	$ 1,349,446	$ 198,397	$ (19,137)	$ 1,402,841	$ 94,911	$ 426,921	$ 881,041	$ (32)
Balance (in shares) at Dec. 31, 2011		96,038,000				14,234,000
Increase (decrease) in stockholders' equity
Net income for common stock	138,658		138,658		99,276			99,276
Other comprehensive income (loss), net of tax benefits	(7,286)			(7,286)	(938)				(938)
Issuance of common stock: Dividend reinvestment and stock purchase plan	41,295	$ 41,295			44,001
Issuance of common stock: Dividend reinvestment and stock purchase plan (in shares)		1,560,000
Issuance of common stock: Retirement savings and other plans	8,196	$ 8,196
Issuance of common stock: Retirement savings and other plans (in shares)		330,000
Issuance of common stock: Expenses and other, net	4,547	$ 4,547
Issuance of common stock, net of expenses						431,000
Issuance of common stock, net of expenses (in shares)					44,001	$ 2,877	41,124
Dividend equivalents paid on equity-classified awards	(101)		(101)
Common stock dividends	(120,150)		(120,150)		(73,044)			(73,044)
Balance (in shares) at Dec. 31, 2012		97,928,000				14,665,000
Ending Balance at Dec. 31, 2012	1,593,865	$ 1,403,484	216,804	(26,423)	1,472,136	$ 97,788	468,045	907,273	(970)
Increase (decrease) in stockholders' equity
Net income for common stock	161,516		161,516		122,929			122,929
Other comprehensive income (loss), net of tax benefits	9,673			9,673	1,578				1,578
Partial settlement of equity forward (in shares)		1,300,000
Partial settlement of equity forward	33,409	$ 33,409
Issuance of common stock: Dividend reinvestment and stock purchase plan	41,692	$ 41,692			78,499
Issuance of common stock: Dividend reinvestment and stock purchase plan (in shares)		1,612,000
Issuance of common stock: Retirement savings and other plans	9,203	$ 9,203
Issuance of common stock: Retirement savings and other plans (in shares)		420,000
Issuance of common stock: Expenses and other, net	338	$ 338
Issuance of common stock, net of expenses						764,000
Issuance of common stock, net of expenses (in shares)					78,499	$ 5,092	73,407
Common stock dividends	$ (122,626)		(122,626)		(81,578)			(81,578)
Balance (in shares) at Dec. 31, 2013	101,259,800	101,260,000				15,429,000
Ending Balance at Dec. 31, 2013	$ 1,727,070	$ 1,488,126	255,694	(16,750)	1,593,564	$ 102,880	541,452	948,624	608
Increase (decrease) in stockholders' equity
Net income for common stock	168,320		168,320		137,641			137,641
Other comprehensive income (loss), net of tax benefits	(10,628)			(10,628)	(563)				(563)
Partial settlement of equity forward (in shares)		1,000,000
Partial settlement of equity forward	24,873	$ 24,873
Issuance of common stock: Dividend reinvestment and stock purchase plan	2,461	$ 2,461			39,994
Issuance of common stock: Dividend reinvestment and stock purchase plan (in shares)		95,000
Issuance of common stock: Retirement savings and other plans	6,816	$ 6,816
Issuance of common stock: Retirement savings and other plans (in shares)		210,000
Issuance of common stock: Expenses and other, net	(979)	$ (979)
Issuance of common stock, net of expenses						376,000
Issuance of common stock, net of expenses (in shares)					39,994	$ 2,508	37,486
Common stock dividends	$ (126,505)		(126,505)		(88,492)			(88,492)
Balance (in shares) at Dec. 31, 2014	102,565,266	102,565,000				15,805,000
Ending Balance at Dec. 31, 2014	$ 1,791,428	$ 1,521,297	$ 297,509	$ (27,378)	$ 1,682,144	$ 105,388	$ 578,938	$ 997,773	$ 45

Consolidated Statements of Ch10

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0.31	$ 0.31	$ 0.31	$ 0.31	$ 0.31	$ 0.31	$ 0.31	$ 0.31	$ 1.24	$ 1.24	$ 1.24

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012
Cash flows from operating activities
Net income		$ 170,210	$ 163,406	[1]	$ 140,548	[1]
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment		172,762	160,061	[1]	150,389	[1]
Other amortization		6,795	4,667	[1]	7,958	[1]
Provision for loan losses		6,126	1,507	[1]	12,883	[1]
Impairment of utility assets		0	0	[1]	40,000	[1]
Loans receivable originated and purchased, held for sale		(155,755)	(249,022)	[1]	(519,622)	[1]
Proceeds from sale of loans receivable, held for sale		155,030	273,775	[1]	513,000	[1]
Gain on sale of credit card portfolio		0	(2,251)	[1]	0	[1]
Increase (decrease) in deferred income taxes		103,916	80,399	[1]	90,848	[1]
Share-based compensation expense		9,287	7,780	[1]	6,698	[1]
Excess tax benefits from share-based payment arrangements		(277)	(430)	[1]	(61)	[1]
Allowance for equity funds used during construction		(6,771)	(5,561)	[1]	(7,007)	[1]
Change in cash overdraft		(1,038)	1,038	[1]	0	[1]
Changes in assets and liabilities
Decrease (increase) in accounts receivable and unbilled revenues, net		33,089	16,038	[1]	(18,501)	[1]
Decrease in fuel oil stock		28,041	27,332	[1]	10,129	[1]
Increase in regulatory assets		(17,000)	(65,461)	[1]	(72,401)	[1]
Increase (decrease) in accounts, interest and dividends payable		(67,189)	12,406	[1]	5,497	[1]
Change in prepaid and accrued income taxes and utility revenue taxes		(39,091)	(19,406)	[1]	21,079	[1]
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability		22,251	(33,014)	[1]	(228)	[1]
Change in other assets and liabilities		(94,966)	(11,696)	[1]	(102,275)	[1]
Net cash provided by operating activities		325,420	361,568	[1]	278,934	[1]
Cash flows from investing activities
Available-for-sale investment securities purchased		(183,778)	(112,654)	[1]	(243,633)	[1]
Principal repayments on available-for-sale investment and mortgage-related securities		91,013	158,558	[1]	191,253	[1]
Proceeds from sale of available-for-sale investment securities		79,564	71,367	[1]	3,548	[1]
Redemption of stock from Federal Home Loan Bank of Seattle		23,244	3,476	[1]	1,742	[1]
Net increase in loans held for investment		(283,810)	(398,426)	[1]	(112,730)	[1]
Proceeds from sale of real estate acquired in settlement of loans		3,213	9,212	[1]	11,336	[1]
Capital expenditures		(364,826)	(389,438)	[1]	(370,715)	[1]
Contributions in aid of construction		41,806	32,160	[1]	45,982	[1]
Proceeds from sale of credit card portfolio		0	26,386	[1]	0	[1]
Other		1,125	1,177	[1]	1,778	[1]
Net cash used in investing activities		(592,449)	(598,182)	[1]	(471,439)	[1]
Cash flows from financing activities
Net increase in deposit liabilities		250,938	142,561	[1]	159,884	[1]
Net increase in short-term borrowings with original maturities of three months or less		13,490	21,789	[1]	14,872	[1]
Net decrease in retail repurchase agreements		(9,465)	(1,418)	[1]	(37,291)	[1]
Proceeds from other bank borrowings		130,601	130,000	[1]	5,000	[1]
Repayments of other bank borrowings		(75,000)	(80,000)	[1]	(5,000)	[1]
Proceeds from issuance of long-term debt		125,000	286,000	[1]	457,000	[1]
Repayment of long-term debt		(111,400)	(216,000)	[1]	(375,500)	[1]
Excess tax benefits from share-based payment arrangements		277	430	[1]	61	[1]
Net proceeds from issuance of common stock		26,898	55,086	[1]	23,613	[1]
Common stock dividends		(126,458)	(98,383)	[1]	(96,202)	[1]
Preferred stock dividends of subsidiaries		(1,890)	(1,890)	[1]	(1,890)	[1]
Other		(456)	(1,187)	[1]	(2,645)	[1]
Net cash provided by (used in) financing activities		222,535	236,988	[1]	141,902	[1]
Net increase (decrease) in cash and cash equivalents		(44,494)	374	[1]	(50,603)	[1]
Cash and cash equivalents, January 1	[1]	220,036	219,662		270,265
Cash and cash equivalents, December 31		175,542	220,036	[1]	219,662	[1]
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income		139,636	124,924	[1]	101,271	[1]
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment		166,387	154,025	[1]	144,498	[1]
Other amortization		6,410	5,077	[1]	6,998	[1]
Impairment of utility assets		0	0	[1]	40,000	[1]
Increase (decrease) in deferred income taxes		82,947	64,507	[1]	86,878	[1]
Change in tax credits, net		6,062	7,017	[1]	6,075	[1]
Allowance for equity funds used during construction		(6,771)	(5,561)	[1]	(7,007)	[1]
Change in cash overdraft		(1,038)	1,038	[1]	0	[1]
Changes in assets and liabilities
Decrease (increase) in accounts receivable		26,743	49,445	[1]	(47,004)	[1]
Decrease (increase) in accrued unbilled revenues		6,750	(9,826)	[1]	3,528	[1]
Decrease in fuel oil stock		28,041	27,332	[1]	10,129	[1]
Decrease (increase) in materials and supplies		1,794	(7,959)	[1]	(7,897)	[1]
Increase in regulatory assets		(17,000)	(65,461)	[1]	(72,401)	[1]
Increase (decrease) in accounts payable		(65,527)	14,731	[1]	6,322	[1]
Change in prepaid and accrued income taxes and utility revenue taxes		(4,036)	(2,028)	[1]	25,239	[1]
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability		(961)	2,240	[1]	(744)	[1]
Change in other assets and liabilities		(62,442)	(32,636)	[1]	(74,262)	[1]
Net cash provided by operating activities		306,995	326,865	[1]	221,623	[1]
Cash flows from investing activities
Capital expenditures		(336,679)	(378,044)	[1]	(355,326)	[1]
Contributions in aid of construction		41,806	32,160	[1]	45,982	[1]
Other		1,164	907	[1]	843	[1]
Net cash used in investing activities		(293,709)	(344,977)	[1]	(308,501)	[1]
Cash flows from financing activities
Proceeds from issuance of long-term debt		0	236,000	[1]	457,000	[1]
Repayment of long-term debt		(11,400)	(166,000)	[1]	(368,500)	[1]
Net proceeds from issuance of common stock		40,000	78,500	[1]	44,000	[1]
Common stock dividends		(88,492)	(81,578)	[1]	(73,044)	[1]
Preferred stock dividends of Hawaiian Electric and subsidiaries		(1,995)	(1,995)	[1]	(1,995)	[1]
Other		(462)	(1,149)	[1]	(2,230)	[1]
Net cash provided by (used in) financing activities		(62,349)	63,778	[1]	55,231	[1]
Net increase (decrease) in cash and cash equivalents		(49,063)	45,666	[1]	(31,647)	[1]
Cash and cash equivalents, January 1	[1]	62,825	17,159		48,806
Cash and cash equivalents, December 31		$ 13,762	$ 62,825	[1]	$ 17,159	[1]
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Summary of significant accounting policies	1 · Summary of significant accounting policies General Hawaiian Electric Industries, Inc. (HEI) is a holding company with direct and indirect subsidiaries principally engaged in electric utility and banking businesses, primarily in the State of Hawaii. HEI is the parent holding company of Hawaiian Electric Company, Inc. (Hawaiian Electric) and indirect parent holding company of American Savings Bank, F. S. B. (ASB). HEI’s common stock is traded on the New York Stock Exchange. Hawaiian Electric and its wholly-owned operating subsidiaries, Hawaii Electric Light Company, Inc. (Hawaii Electric Light) and Maui Electric Company, Limited (Maui Electric), are regulated public electric utilities (collectively, the Utilities) in the business of generating, purchasing, transmitting, distributing and selling electric energy on all major islands in Hawaii other than Kauai. Hawaiian Electric also owns Renewable Hawaii, Inc. (RHI), Uluwehiokama Biofuels Corp. (UBC) and HECO Capital Trust III. See Note 3 . ASB is a federally chartered savings bank providing a full range of banking services to individual and business customers through its branch system in Hawaii. Basis of presentation. In preparing the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP), management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change for the Company include the amounts reported for investment and mortgage-related securities (ASB only); property, plant and equipment; pension and other postretirement benefit obligations; contingencies and litigation; income taxes; regulatory assets and liabilities (Utilities only); electric utility revenues (Utilities only); and allowance for loan losses (ASB only). Revision and restatements of previously issued financial statements. Management discovered that the Utilities’ capital expenditures on HEI’s and Hawaiian Electric’s Consolidated Statements of Cash Flows did not correctly account for the beginning of period unpaid invoices and accruals (that were paid in cash during the period) and is restating its previously filed Consolidated Statements of Cash Flows for the years ended December 31, 2013 and 2012 and revising its previously filed Consolidated Statements of Cash Flow for the year ended December 31, 2014 to correct for such misstatement by adjusting cash used for “Capital expenditures” (investing activity) and change in accounts payable (operating activity). Management also discovered that the eliminating journal entry to offset the Hawaiian Electric consolidated net operating loss deferred tax asset did not properly reflect the adjustment on the components of income taxes (current and deferred federal income taxes) and is restating its previously filed Consolidated Statements of Cash Flows for the years ended December 31, 2013 and 2012 and revising its previously filed Consolidated Statements of Cash Flow for the year ended December 31, 2014 to correct for such misstatement by adjusting “Increase in deferred income taxes,” “Change in prepaid and accrued income taxes and utility revenue taxes” and “Change in other assets and liabilities” (operating activities). Management determined it needed to correct the presentation for share-based compensation expense on the Company’s Consolidated Statement of Cash Flows, resulting in a corresponding change in the “Change in other assets and liabilities” amount. This revision and restatements to correct for such misstatements and other immaterial items do not impact HEI’s and Hawaiian Electric’s previously reported overall net change in cash and cash equivalents in their Consolidated Statements of Cash Flows for any period presented. Additionally, the revision and restatements do not impact HEI’s and Hawaiian Electric’s Consolidated Balance Sheets or Consolidated Statements of Income for any period presented.The Company and Hawaiian Electric have concluded that the impact of the misstatements is not material to the previously issued Consolidated Statements of Cash Flow for the year ended December 31, 2014. The table below illustrates the effects of the revision or restatements on the previously filed financial statements: 2014 2013 As As previously As previously As (in thousands) filed revised Difference filed restated Difference Consolidated Statements of Cash Flows and Note 3 HEI consolidated Cash flows from operating activities Other amortization $ 8,476 $ 6,795 $ (1,681 ) N/A N/A N/A Increase in deferred income taxes 59,184 103,916 44,732 N/A N/A N/A Share-based compensation expense — 9,287 9,287 $ — $ 7,780 $ 7,780 Increase/(decrease) in accounts, interest and dividends payable (92,294 ) (67,189 ) 25,105 (23,153 ) 12,406 35,559 Change in prepaid and accrued income taxes and utility revenue taxes 12,845 (39,091 ) (51,936 ) N/A N/A N/A Change in other assets and liabilities (93,400 ) (94,966 ) (1,566 ) (2,779 ) (11,696 ) (8,917 ) Net cash provided by operating activities 301,479 325,420 23,941 327,146 361,568 34,422 Cash flows from investing activities Capital expenditures (339,721 ) (364,826 ) (25,105 ) (353,879 ) (389,438 ) (35,559 ) Cash flows from investing activities-Other (39 ) 1,125 1,164 40 1,177 1,137 Net cash used in investing activities (568,508 ) (592,449 ) (23,941 ) (563,760 ) (598,182 ) (34,422 ) Hawaiian Electric consolidated Cash flows from operating activities Other amortization 8,091 6,410 (1,681 ) N/A N/A N/A Increase/(decrease) in accounts payable (90,632 ) (65,527 ) 25,105 (20,828 ) 14,731 35,559 Change in other assets and liabilities (62,959 ) (62,442 ) 517 (31,499 ) (32,636 ) (1,137 ) Net cash provided by operating activities 283,054 306,995 23,941 292,443 326,865 34,422 Cash flows from investing activities Capital expenditures (311,574 ) (336,679 ) (25,105 ) (342,485 ) (378,044 ) (35,559 ) Cash flows from investing activities-Other — 1,164 1,164 (230 ) 907 1,137 Net cash used in investing activities (269,768 ) (293,709 ) (23,941 ) (310,555 ) (344,977 ) (34,422 ) Note 12 HEI consolidated Federal current taxes 33,762 (10,970 ) (44,732 ) N/A N/A N/A Federal deferred taxes 46,427 91,159 44,732 N/A N/A N/A Note 13 HEI consolidated Property, plant and equipment - unpaid invoices and accruals (in millions) 68 43 (25 ) 24 (12 ) (36 ) Hawaiian Electric consolidated Electric utility property, plant and equipment - unpaid invoices and accruals (in millions) 65 40 (25 ) 24 (12 ) (36 ) N/A - Not applicable. 2012 As previously As (in thousands) filed restated Difference Consolidated Statements of Cash Flows and Note 3 HEI consolidated Cash flows from operating activities Share-based compensation expense $ — $ 6,698 $ 6,698 Increase/(decrease) in accounts, interest and dividends payable (39,738 ) 5,497 45,235 Change in other assets and liabilities (94,734 ) (102,275 ) (7,541 ) Net cash provided by operating activities 234,542 278,934 44,392 Cash flows from investing activities Capital expenditures (325,480 ) (370,715 ) (45,235 ) Cash flows from investing activities-Other 935 1,778 843 Net cash used in investing activities (427,047 ) (471,439 ) (44,392 ) Hawaiian Electric consolidated Cash flows from operating activities Increase/(decrease) in accounts payable (38,913 ) 6,322 45,235 Change in other assets and liabilities (73,419 ) (74,262 ) (843 ) Net cash provided by operating activities 177,231 221,623 44,392 Cash flows from investing activities Capital expenditures (310,091 ) (355,326 ) (45,235 ) Cash flows from investing activities-Other — 843 843 Net cash used in investing activities (264,109 ) (308,501 ) (44,392 ) Note 13 HEI consolidated Property, plant and equipment - unpaid invoices and accruals (in millions) 37 (8 ) (45 ) Hawaiian Electric consolidated Electric utility property, plant and equipment - unpaid invoices and accruals (in millions) 37 (8 ) (45 ) Consolidation. The HEI consolidated financial statements include the accounts of HEI and its subsidiaries (collectively, the Company). The Hawaiian Electric consolidated financial statements include the accounts of Hawaiian Electric and its subsidiaries. The consolidated financial statements exclude subsidiaries which are variable interest entities (VIEs) when the Company or the Utilities are not the primary beneficiaries. Investments in companies over which the Company or the Utilities have the ability to exercise significant influence, but not control, are accounted for using the equity method. All material intercompany accounts and transactions have been eliminated in consolidation. See Note 6 for information regarding unconsolidated VIEs. Cash and cash equivalents. The Utilities consider cash on hand, deposits in banks, money market accounts, certificates of deposit, short-term commercial paper of non-affiliates and liquid investments (with original maturities of three months or less) to be cash and cash equivalents. The Company considers the same items to be cash and cash equivalents as well as ASB’s deposits with the Federal Home Loan Bank (FHLB) of Seattle, federal funds sold (excess funds that ASB loans to other banks overnight at the federal funds rate) and securities purchased under resale agreements. Equity method. Investments in up to 50% -owned affiliates over which the Company or the Utilities have the ability to exercise significant influence over the operating and financing policies and investments in unconsolidated subsidiaries (e.g. HECO Capital Trust III) are accounted for under the equity method, whereby the investment is carried at cost, plus (or minus) the equity in undistributed earnings (or losses) and minus distributions since acquisition. Equity in earnings or losses is reflected in operating revenues. Equity method investments are also evaluated for OTTI. Also see Note 6 below. Property, plant and equipment. Property, plant and equipment are reported at cost. Self-constructed electric utility plant includes engineering, supervision, administrative and general costs and an allowance for the cost of funds used during the construction period. These costs are recorded in construction in progress and are transferred to utility plant when construction is completed and the facilities are either placed in service or become useful for public utility purposes. Costs for betterments that make utility plant more useful, more efficient, of greater durability or of greater capacity are also capitalized. Upon the retirement or sale of electric utility plant, generally no gain or loss is recognized. The cost of the plant retired is charged to accumulated depreciation. Amounts collected from customers for cost of removal (expected to exceed salvage value in the future) are included in regulatory liabilities. Depreciation. Depreciation is computed primarily using the straight-line method over the estimated lives of the assets being depreciated. Electric utility plant additions in the current year are depreciated beginning January 1 of the following year in accordance with rate-making. Electric utility plant has lives ranging from 20 to 88 years for production plant, from 25 to 65 years for transmission and distribution plant and from 5 to 65 years for general plant. The Utilities’ composite annual depreciation rate, which includes a component for cost of removal, was 3.1% in 2014 , 2013 and 2012 . Leases. HEI, the Utilities and ASB have entered into lease agreements for the use of equipment and office space. The provisions of some of the lease agreements contain renewal options. The Company's operating lease expense was $19 million in 2014 , 2013 and 2012 . The Utilities' operating lease expense was $9 million , $8 million and $8 million in 2014 , 2013 and 2012 , respectively. The Company's and the Utilities' future minimum lease payments are as follows: (in millions) HEI Hawaiian Electric 2015 $ 17 $ 8 2016 15 6 2017 12 5 2018 9 4 2019 7 3 Thereafter 23 14 $ 83 $ 40 Retirement benefits. Pension and other postretirement benefit costs are charged primarily to expense and electric utility plant (in the case of the Utilities). Funding for the Company’s qualified pension plans (Plans) is based on actuarial assumptions adopted by the Pension Investment Committee administering the Plans on the advice of an enrolled actuary. The participating employers contribute amounts to a master pension trust for the Plans in accordance with the funding requirements of the Employee Retirement Income Security Act of 1974, as amended (ERISA), including changes promulgated by the Pension Protection Act of 2006, and considering the deductibility of contributions under the Internal Revenue Code. The Company generally funds at least the net periodic pension cost during the year, subject to limits and targeted funded status as determined with the consulting actuary. Under a pension tracking mechanism approved by the Public Utilities Commission of the State of Hawaii (PUC), the Utilities generally will make contributions to the pension fund at the greater of the minimum level required under the law or net periodic pension cost. Certain health care and/or life insurance benefits are provided to eligible retired employees and the employees’ beneficiaries and covered dependents. The Company generally funds the net periodic postretirement benefit costs other than pensions (except for executive life) and the amortization of the regulatory asset for postretirement benefits other than pensions (OPEB), while maximizing the use of the most tax advantaged funding vehicles, subject to cash flow requirements and reviews of the funded status with the consulting actuary. The Utilities must fund OPEB costs as specified in the OPEB tracking mechanisms, which were approved by the PUC. Future decisions in rate cases could further impact funding amounts. The Company and the Utilities recognize on their respective balance sheets the funded status of their defined benefit pension and other postretirement benefit plans, as adjusted by the impact of decisions of the PUC. Environmental expenditures. The Company and the Utilities are subject to numerous federal and state environmental statutes and regulations. In general, environmental contamination treatment costs are charged to expense, unless it is probable that the PUC would allow such costs to be recovered in future rates, in which case such costs would be capitalized as regulatory assets. Also, environmental costs are capitalized if the costs extend the life, increase the capacity, or improve the safety or efficiency of property; the costs mitigate or prevent future environmental contamination; or the costs are incurred in preparing the property for sale. Environmental costs are either capitalized or charged to expense when environmental assessments and/or remedial efforts are probable and the cost can be reasonably estimated. Financing costs. Financing costs related to the registration and sale of HEI common stock are recorded in shareholders’ equity. HEI uses the straight-line method, which approximates the effective interest method, to amortize the long-term debt financing costs of the holding company over the term of the related debt. The Utilities use the straight-line method, which approximates the effective interest method, to amortize long-term debt financing costs and premiums or discounts over the term of the related debt. Unamortized financing costs and premiums or discounts on the Utilities' long-term debt retired prior to maturity are classified as regulatory assets (costs and premiums) or liabilities (discounts) and are amortized on a straight-line basis over the remaining original term of the retired debt. The method and periods for amortizing financing costs, premiums and discounts, including the treatment of these items when long-term debt is retired prior to maturity, have been established by the PUC as part of the rate-making process. HEI and the Utilities use the straight-line method to amortize the fees and related costs paid to secure a firm commitment under their line-of-credit arrangements. Income taxes. Deferred income tax assets and liabilities are established for the temporary differences between the financial reporting bases and the tax bases of the Company’s and the Utilities' assets and liabilities at federal and state tax rates expected to be in effect when such deferred tax assets or liabilities are realized or settled. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount expected to be realized. The Company recognizes investment tax credits as a reduction of income tax expense in the period the assets giving rise to such credits are placed in service, except for the Utilities' investment tax credits, which are deferred and amortized over the estimated useful lives of the properties to which the credits relate, in accordance with Accounting Standards Codification (ASC) Topic 980, “Regulated Operations.” The Utilities are included in the consolidated income tax returns of HEI. However, income tax expense has been computed for financial statement purposes as if the Utilities filed separate consolidated Hawaiian Electric income tax returns. Governmental tax authorities could challenge a tax return position taken by management. If the Company’s position does not prevail, the Company’s results of operations and financial condition may be adversely affected as the related deferred or current income tax asset might be impaired and written down or an unanticipated tax liability might be incurred. The Company and the Utilities use a “more-likely-than-not” recognition threshold and measurement standard for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. 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 asset retirement obligations (AROs). Earnings per share (HEI only). Basic earnings per share (EPS) is computed by dividing net income for common stock by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed similarly, except that dilutive common shares for stock compensation and the equity forward transactions are added to the denominator. HEI uses the two-class method of computing EPS as restricted stock grants include non-forfeitable rights to dividends and are participating securities. Under the two-class method, HEI's EPS was comprised as follows for both participating securities and unrestricted common stock: 2014 2013 2012 Basic Diluted Basic Diluted Basic Diluted Distributed earnings $ 1.24 $ 1.24 $ 1.24 $ 1.24 $ 1.24 $ 1.24 Undistributed earnings 0.41 0.40 0.39 0.38 0.19 0.18 $ 1.65 $ 1.64 $ 1.63 $ 1.62 $ 1.43 $ 1.42 As of December 31, 2014 there were no shares that were antidilutive. As of December 31, 2013 and December 31, 2012 , the antidilutive effect of stock appreciation rights (SARs) on 102,000 shares of HEI common stock (for which the exercise prices were greater than the closing market prices of HEI’s common stock on such dates), was not included in the computation of diluted EPS. Share-based compensation. The Company and the Utilities apply the fair value based method of accounting to account for its stock compensation, including the use of a forfeiture assumption. See Note 11 . Impairment of long-lived assets and long-lived assets to be disposed of. The Company and the Utilities review long-lived assets and certain identifiable intangibles for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell. Recent accounting pronouncements. Obligations resulting from joint and several liability . In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-04, “Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date,” which provides guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. The guidance requires entities to measure these obligations as the sum of the amount the entity has agreed with co-obligors to pay and any additional amount it expects to pay on behalf of its co-obligors. The guidance also requires an entity to disclose the nature and amount of the obligation as well as other information. The Company and the Utilities retrospectively adopted ASU No. 2013-04 in the first quarter of 2014 and it did not have a material impact on the Company’s or the Utilities' results of operations, financial condition or liquidity. Unrecognized tax benefits (UTBs) . In July 2013, the FASB issued ASU No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists,” which requires the netting of UTBs against a deferred tax asset for a loss or other tax carryforwards that would apply in settlement of the uncertain tax positions. UTBs should be netted against all available same-jurisdiction loss or other tax carryforwards that would be utilized, rather than only against carryforwards that are created by the UTBs. The Company and the Utilities prospectively adopted ASU No. 2013-11 in the first quarter of 2014 and it did not have a material impact on the Company’s or the Utilities' results of operations, financial condition or liquidity. 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. The amendments also require additional disclosures. The Company has not determined whether it will adopt ASU No. 2014-01 in the first quarter of 2015. 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 plans to prospectively adopt ASU No. 2014-04 in the first quarter of 2015 and does not expect the adoption to 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 2017, 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 plans to adopt ASU No. 2014-11 in the first quarter of 2015 and does not expect the adoption to have a material impact on the Company's results of operations, financial condition or liquidity. Reclassifications. Hawaiian Electric changed its consolidated statements of income for each quarter in 2013 from a utility presentation to a commercial company presentation, under which all operating revenues and expenses (including non-regulated revenues and expenses) are included in the determination of operating income. Additionally, income tax expense, which was previously included partially in operating expenses and partially in other income (deductions), is now entirely presented directly above net income in income taxes and includes income taxes related to non-regulated revenues and expenses. On HEI’s consolidated balance sheet as of December 31, 2013, non-utility plant, net, amounting to $7 million was reclassified from “Other” assets to “Plant and equipment” (including related amounts of accumulated depreciation). These and other reclassifications made to prior years’ financial statements to conform to the 2014 presentation did not affect previously reported results of operations. Electric utility Regulation by the Public Utilities Commission of the State of Hawaii (PUC). The Utilities are regulated by the PUC and account for the effects of regulation under FASB ASC Topic 980, “Regulated Operations.” As a result, the actions of regulators can affect the timing of recognition of revenues, expenses, assets and liabilities. Management believes the Utilities’ operations currently satisfy the ASC Topic 980 criteria. If events or circumstances should change so that those criteria are no longer satisfied, the Utilities expect that their regulatory assets, net of regulatory liabilities, would be charged to the statement of income in the period of discontinuance. Accounts receivable. Accounts receivable are recorded at the invoiced amount. The Utilities generally assess a late payment charge on balances unpaid from the previous month. The allowance for doubtful accounts is the Utilities’ best estimate of the amount of probable credit losses in the Utilities existing accounts receivable. On a monthly basis, the Utilities adjust their allowance, with a corresponding charge (credit) on the statement of income, based on its historical write-off experience. Account balances are charged off against the allowance after collection efforts have been exhausted and the potential for recovery is considered remote. At both December 31, 2014 and 2013 , the allowance for customer accounts receivable, accrued unbilled revenues and other accounts receivable was $2 million . Contributions in aid of construction. The Utilities receive contributions from customers for special construction requirements. As directed by the PUC, contributions are amortized on a straight-line basis over 30 to 55 years as an offset against depreciation expense. Electric utility revenues. Electric utility revenues are based on rates authorized by the PUC. Prior to the implementation of decoupling, revenues related to the sale of en

Proposed merger

Proposed merger	12 Months Ended
	Dec. 31, 2014
Business Combinations [Abstract]
Proposed merger	2 · 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. 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 ECAC tariff provisions, the PPA tariff provision and the Pension and OPEB tracker mechanism. Various parties, including governmental, environmental and commercial interests, have moved to intervene in the proceeding. A PUC decision on the intervention motions and establishing a procedural schedule for the docket is pending. 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. On February 1, 2015, HEI submitted a letter to 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. On February 13, 2015, the Court held a hearing on this motion. 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). All eight 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. 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 intends to defend these lawsuits vigorously. Other matters . In January 2015, various clean energy and environmental groups filed a motion and applications with the PUC to delay consideration of the Company’s proposed Merger pending its decision on the Power Supply Improvement Plans, Distributed Generation Interconnection Plan, Integrated Demand Response Portfolio Plan, decoupling, and issues regarding customer-based distributed energy resources. The Utilities and NEE filed oppositions to these applications with the PUC and asked for their dismissal.

Segment financial information

Segment financial information	12 Months Ended
	Dec. 31, 2014
Segment Reporting [Abstract]
Segment financial information	3 · Segment financial information The electric utility and bank segments are strategic business units of the Company that offer different products and services and operate in different regulatory environments. The accounting policies of the segments are the same as those described for the Company in the summary of significant accounting policies, except as otherwise indicated and except that federal and state income taxes for each segment are calculated on a “stand-alone” basis. HEI evaluates segment performance based on net income. Each segment accounts for intersegment sales and transfers as if the sales and transfers were to third parties, that is, at current market prices. Intersegment revenues consist primarily of interest, rent and preferred stock dividends. Electric utility Hawaiian Electric and its wholly-owned operating subsidiaries, Hawaii Electric Light and Maui Electric, are public electric utilities in the business of generating, purchasing, transmitting, distributing and selling electric energy on all major islands in Hawaii other than Kauai, and are regulated by the PUC. The Utilities have been aggregated into the electric utility segment primarily because all three entities: (1) are involved in the business of supplying electric energy in the same geographical location (i.e., the State of Hawaii), (2) have similar production processes that include electric generators (e.g., conventional oil-fired steam units and combustion turbines), (3) serve similar customers within their franchise territories (e.g., residential, commercial and industrial customers), (4) use similar electric grids to distribute the energy to their customers, (5) are regulated by the PUC and undergo similar rate-making processes, (6) have similar economic characteristics, and (7) perform financial reporting oversight and management of the business at the consolidated level. Hawaiian Electric also owns the following nonregulated subsidiaries: Renewable Hawaii, Inc. (RHI), which was formed to invest in renewable energy projects; HECO Capital Trust III, which is a financing entity; and Uluwehiokama Biofuels Corp. (UBC), which was formed to own a new biodiesel refining plant to be built on the island of Maui, which project has been terminated. Bank ASB is a federally chartered savings bank providing a full range of banking services to individual and business customers through its branch system in Hawaii. ASB is subject to examination and comprehensive regulation by the Office of the Comptroller of the Currency (OCC) (previously by the Department of Treasury, Office of Thrift Supervision (OTS)) and the Federal Deposit Insurance Corporation (FDIC), and is subject to reserve requirements established by the Board of Governors of the Federal Reserve System. Other “Other” includes amounts for the holding companies (HEI and ASB Hawaii, Inc.), other subsidiaries not qualifying as reportable segments and intercompany eliminations. Segment financial information was as follows: (in thousands) Electric utility Bank Other Total 2014 Revenues from external customers $ 2,987,299 $ 252,497 $ (254 ) $ 3,239,542 Intersegment revenues (eliminations) 24 — (24 ) — Revenues 2,987,323 252,497 (278 ) 3,239,542 Depreciation and amortization, as revised (1) 172,797 5,399 1,361 179,557 Interest expense, net 64,757 10,808 11,595 87,160 Income (loss) before income taxes 220,361 75,619 (34,058 ) 261,922 Income taxes (benefit) 80,725 24,127 (13,140 ) 91,712 Net income (loss) 139,636 51,492 (20,918 ) 170,210 Preferred stock dividends of subsidiaries 1,995 — (105 ) 1,890 Net income (loss) for common stock 137,641 51,492 (20,813 ) 168,320 Capital expenditures, as revised (1) 336,679 28,073 74 364,826 Assets (at December 31, 2014) 5,590,457 5,565,241 28,463 11,184,161 2013 Revenues from external customers $ 2,980,139 $ 258,147 $ 184 $ 3,238,470 Intersegment revenues (eliminations) 33 — (33 ) — Revenues 2,980,172 258,147 151 3,238,470 Depreciation and amortization 159,102 4,230 1,396 164,728 Interest expense, net 59,279 10,077 16,200 85,556 Income (loss) before income taxes 194,041 87,059 (33,353 ) 247,747 Income taxes (benefit) 69,117 29,525 (14,301 ) 84,341 Net income (loss) 124,924 57,534 (19,052 ) 163,406 Preferred stock dividends of subsidiaries 1,995 — (105 ) 1,890 Net income (loss) for common stock 122,929 57,534 (18,947 ) 161,516 Capital expenditures, as restated (1) 378,044 11,193 201 389,438 Assets (at December 31, 2013) 5,087,129 5,243,824 9,091 10,340,044 2012 Revenues from external customers $ 3,109,353 $ 265,539 $ 103 $ 3,374,995 Intersegment revenues (eliminations) 86 — (86 ) — Revenues 3,109,439 265,539 17 3,374,995 Depreciation and amortization 151,496 5,334 1,517 158,347 Interest expense, net 62,055 11,292 16,096 89,443 Income (loss) before income taxes 162,319 89,021 (33,933 ) 217,407 Income taxes (benefit) 61,048 30,384 (14,573 ) 76,859 Net income (loss) 101,271 58,637 (19,360 ) 140,548 Preferred stock dividends of subsidiaries 1,995 — (105 ) 1,890 Net income (loss) for common stock 99,276 58,637 (19,255 ) 138,658 Capital expenditures, as restated (1) 355,326 14,979 410 370,715 Assets (at December 31, 2012) 5,108,793 5,041,673 (1,334 ) 10,149,132 (1) As revised or restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.” 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 segment

Electric utility segment	12 Months Ended
	Dec. 31, 2014
Electric utility subsidiary
Electric utility segment	4 · Electric utility segment Regulatory assets and liabilities. In accordance with ASC Topic 980, “Regulated Operations,” the Utilities’ financial statements reflect assets, liabilities, revenues and expenses based on current cost-based rate-making regulations. Their continued accounting under ASC Topic 980 generally requires that rates are established by an independent, third-party regulator; rates are designed to recover the costs of providing service; and it is reasonable to assume that rates can be charged to and collected from customers. Management believes the Utilities’ operations currently satisfy the ASC Topic 980 criteria. If events or circumstances should change so that those criteria are no longer satisfied, the Utilities expect that the regulatory assets, net of regulatory liabilities, would be charged to the statement of income in the period of discontinuance, which may result in a material adverse effect on the Company’s and the Utilities' financial condition, results of operations and/or liquidity. Regulatory assets represent deferred costs expected to be fully recovered through rates over PUC-authorized periods. Generally, the Utilities do not earn a return on their regulatory assets; however, they have been allowed to recover interest on certain regulatory assets and to include certain regulatory assets in rate base. Regulatory liabilities represent amounts included in rates and collected from ratepayers for costs expected to be incurred in the future. For example, the regulatory liability for cost of removal in excess of salvage value represents amounts that have been collected from ratepayers for costs that are expected to be incurred in the future to retire utility plant. Generally, the Utilities include regulatory liabilities in rate base or are required to apply interest to certain regulatory liabilities. In the table below, noted in parentheses are the original PUC authorized amortization or recovery periods and, if different, the remaining amortization or recovery periods as of December 31, 2014 are noted. Regulatory assets were as follows: December 31 2014 2013 (in thousands) Retirement benefit plans (balance primarily varies with plans’ funded statuses) $ 683,243 $ 350,821 Income taxes, net (1 to 55 years) 86,836 85,430 Decoupling revenue balancing account (1 to 2 years) 80,183 90,386 Unamortized expense and premiums on retired debt and equity issuances (19 to 30 years; 6 to 18 years remaining) 15,569 17,342 Vacation earned, but not yet taken (1 year) 10,248 9,149 Postretirement benefits other than pensions (18 years; less than 1 year remaining) 18 62 Other (1 to 50 years; 1 to 46 years remaining) 29,167 22,734 $ 905,264 $ 575,924 Included in: Current assets $ 71,421 $ 69,738 Long-term assets 833,843 506,186 $ 905,264 $ 575,924 Regulatory liabilities were as follows: December 31 2014 2013 (in thousands) Cost of removal in excess of salvage value (1 to 60 years) $ 331,000 $ 315,164 Retirement benefit plans (5 years beginning with respective utility’s next rate case) 12,413 31,546 Other (5 years; 1 to 2 years remaining) 1,436 2,589 $ 344,849 $ 349,299 Included in: Current liabilities $ 632 $ 1,916 Long-term liabilities 344,217 347,383 $ 344,849 $ 349,299 The regulatory asset and liability relating to retirement benefit plans was recorded as a result of pension and OPEB tracking mechanisms adopted by the PUC in rate case decisions for the Utilities in 2007 (see Note 10 ). Major customers. The Utilities received 12% ( $350 million ), 11% ( $340 million ) and 11% ( $349 million ) of their operating revenues from the sale of electricity to various federal government agencies in 2014 , 2013 and 2012 , respectively. Cumulative preferred stock. The following series of cumulative preferred stock are redeemable only at the option of the respective company at the following prices in the event of voluntary liquidation or redemption: December 31, 2014 Voluntary liquidation price Redemption price Series C, D, E, H, J and K (Hawaiian Electric) $ 20 $ 21 I (Hawaiian Electric) 20 20 G (Hawaii Electric Light) 100 100 H (Maui Electric) 100 100 Hawaiian Electric is obligated to make dividend, redemption and liquidation payments on the preferred stock of each of its subsidiaries if the respective subsidiary is unable to make such payments, but this obligation is subordinated to Hawaiian Electric's obligation to make payments on its own preferred stock. Related-party transactions. HEI charged the Utilities $ 7 million , $6.2 million and $6.1 million for general management and administrative services in 2014 , 2013 and 2012 , respectively. The amounts charged by HEI to its subsidiaries for services provided by HEI employees are allocated primarily on the basis of time expended in providing such services. Hawaiian Electric’s short-term borrowings totaled nil at December 31, 2014 and 2013 . The interest charged on short-term borrowings from HEI is based on the lower of HEI’s or Hawaiian Electric’s effective weighted average short-term external borrowing rate. If both HEI and Hawaiian Electric do not have short-term external borrowings, the interest is based on the average of the effective rate for 30 -day dealer-placed commercial paper quoted by the Wall Street Journal plus 0.15% . Borrowings among the Utilities are eliminated in consolidation. Interest charged by HEI to Hawaiian Electric was nil in each of 2014 and 2013 and de minimis in 2012 . 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. Based on the average price per barrel as of December 31, 2014 , the estimated cost of minimum purchases under the fuel supply contracts is $0.4 billion in 2015 , $0.3 billion in 2016 and $6.4 million in 2017 . The actual cost of purchases in 2015 and future years could vary substantially from this estimate as a result of changes in market prices, quantities actually purchased and/or other factors. The Utilities purchased $1.1 billion , $1.1 billion and $1.3 billion of fuel under contractual agreements in 2014 , 2013 and 2012 , respectively. Hawaiian Electric and Chevron Products Company (Chevron), a division of Chevron USA, Inc., are parties to the Low Sulfur Fuel Oil Supply Contract (LSFO Contract) for the purchase/sale of low sulfur fuel oil (LSFO), which terminates on December 31, 2016 and may automatically renew for annual terms thereafter unless earlier terminated by either party. The PUC approved the recovery of costs incurred under this contract on April 30, 2013. On August 27, 2014, Chevron and Hawaiian Electric entered into a first amendment of the LSFO Contract. 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 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 amendment is subject to approval of the PUC, and can be terminated if approval is not received by April 15, 2015. Hawaiian Electric and Hawaii Independent Energy, LLC, (HIE) a wholly owned subsidiary of Par Petroleum Corporation of Houston Texas, were parties to an amended LSFO supply contract (assigned to HIE pursuant to its purchase of the Hawaii refinery and related assets of Tesoro Hawaii Corp), which ran through December 31, 2014, with a provision that it would automatically renew for annual terms thereafter unless earlier terminated by either party. On August 28, 2014, Hawaiian Electric provided notice to HIE that it would not renew the LSFO supply contract. The Utilities are parties to amended contracts for the supply of industrial fuel oil and diesel fuels with Chevron and HIE, respectively, which end December 31, 2015. Both agreements may be automatically renewed for annual terms thereafter unless earlier terminated by either of the respective parties. 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. The energy charge for energy purchased from Kalaeloa Partners, L.P. (Kalaeloa) under Hawaiian Electric’s PPA with Kalaeloa is based, in part, on the price Kalaeloa pays HIE for LSFO under a Facility Fuel Supply Contract (fuel contract) between them (assigned to HIE upon its purchase of the assets of Tesoro Hawaii Corp. as described above). The term of the fuel contract between Kalaeloa and HIE ends May 31, 2016 and may be extended for terms thereafter unless terminated by one of the parties. The costs incurred under the Utilities’ fuel contracts are included in their respective ECACs, to the extent such costs are not recovered through the Utilities’ base rates. Power purchase agreements . As of December 31, 2014 , the Utilities had seven firm capacity PPAs for a total of 575 megawatts (MW) of firm capacity. Purchases from these seven independent power producers (IPPs) and all other IPPs totaled $0.7 billion for each of 2014 , 2013 and 2012 . The PUC allows rate recovery for energy and firm capacity payments to IPPs under these agreements. Assuming that each of the agreements remains in place for its current term (and as amended) and the minimum availability criteria in the PPAs are met, aggregate minimum fixed capacity charges are expected to be approximately $0.1 billion per year for 2015 through 2019 and a total of $0.5 billion in the period from 2020 through 2035. In general, the Utilities base their payments under the PPAs upon available capacity and actually supplied energy and they are generally not required to make payments for capacity if the contracted capacity is not available, and payments are reduced, under certain conditions, if available capacity drops below contracted levels. In general, the payment rates for capacity have been predetermined for the terms of the agreements. Energy payments will vary over the terms of the agreements. The Utilities pass on changes in the fuel component of the energy charges to customers through the ECAC in their rate schedules. The Utilities do not operate, or participate in the operation of, any of the facilities that provide power under the agreements. Title to the facilities does not pass to Hawaiian Electric or its subsidiaries upon expiration of the agreements, and the agreements do not contain bargain purchase options for the facilities. Purchase power adjustment clause. The PUC has approved purchased power adjustment clauses (PPACs) for the Utilities. Purchased power capacity, O&M and other non-energy costs previously recovered through base rates are now recovered in the PPACs and, subject to approval by the PUC, such costs resulting from new purchased power agreements can be added to the PPACs outside of a rate case. Purchased energy costs continue to be recovered through the ECAC to the extent they are not recovered through base rates. Hawaii Clean Energy Initiative . In January 2008, the State of Hawaii (State) and the U.S. Department of Energy signed a memorandum of understanding establishing the Hawaii Clean Energy Initiative (HCEI). In October 2008, the Governor of the State, the State Department of Business, Economic Development and Tourism (DBEDT), the Division of Consumer Advocacy of the State Department of Commerce and Consumer Affairs and the Utilities (collectively, the parties), signed an agreement setting forth goals and objectives under the HCEI and the related commitments of the parties (the Energy Agreement), including pursuing a wide range of actions to decrease the State’s dependence on imported fossil fuels through substantial increases in renewable energy and programs intended to secure greater energy efficiency and conservation. Many of the actions and programs included in the Energy Agreement required approval of the PUC. The parties to the Energy Agreement con cluded that the agreements and policy directives in the Energy Agreement had been advanced or superseded by subsequent events, as well as by decisions and orders issued by the PUC, and accordingly ended the Energy Agreement on September 14, 2014. On September 15, 2014, the State of Hawaii and the U.S. Department of Energy executed a MOU recognizing that Hawaii is embarking on the next phase of its clean energy future. The MOU provides the framework for a comprehensive, sustained effort to better realize Hawaii's vast renewable energy potential and allow it to push forward in three main areas: the power sector, transportation and energy efficiency. This next phase will focus on stimulating deployment of clean energy infrastructure as a catalyst for economic growth, energy system innovation and test bed investments. Utility projects . Many public utility projects require PUC approval and various permits from other governmental agencies. Difficulties in obtaining, or the inability to obtain, the necessary approvals or permits can result in significantly increased project costs or even cancellation of projects. Further, completion of projects is subject to various risks, such as problems or disputes with vendors. In the event a project does not proceed, or if it becomes probable the PUC will disallow cost recovery for all or part of a project, project costs may need to be written off in amounts that could result in significant reductions in Hawaiian Electric’s consolidated net income. In May 2011, the PUC ordered independently conducted regulatory audits on the reasonableness of costs incurred for Hawaiian Electric’s East Oahu Transmission Project (EOTP), Campbell Industrial Park (CIP) combustion turbine No. 1 (CT-1) project, and Customer Information System (CIS) project. However, in March 2012, the PUC eliminated the requirement for a regulatory audit for the EOTP Phase I in connection with an approved settlement of the EOTP Phase I project cost issues and, in March 2013, the PUC eliminated the requirement for an audit of the CIP CT-1 and CIS project costs as described below. On January 28, 2013, the Utilities and the Consumer Advocate signed a settlement agreement (2013 Agreement), subject to PUC approval, to write off $40 million of costs in lieu of conducting the regulatory audits of the CIP CT-1 project and the CIS project. Based on the 2013 Agreement, as of December 31, 2012, the Utilities recorded an after-tax charge to net income of approximately $24 million — $17.1 million for Hawaiian Electric, $3.4 million for Hawaii Electric Light, and $3.2 million for Maui Electric. The remaining recoverable costs for these projects of $52 million were included in rate base as of December 31, 2012. As part of the 2013 Agreement, Hawaii Electric Light would withdraw its 2013 test year rate case, and delay filing a new rate case until a 2016 test year. Additionally, Hawaiian Electric would delay the filing of its scheduled 2014 test year rate case to no earlier than January 2, 2014. For both Utilities, the existing terms of the last rate case decisions would continue. Hawaiian Electric would also be allowed to record Rate Adjustment Mechanism (RAM) revenues starting on January 1 of 2014, 2015 and 2016. The cash collection of RAM revenues would remain unchanged, starting June 1 of each year through May 31 of the following year. On March 19, 2013, the PUC issued a decision and order (2013 D&O) approving the 2013 Agreement, with the following clarifications, none of which changed the financial impact of the settlement recorded as of December 31, 2012: (1) the PUC reiterated its authority to examine and ascertain what post go-live CIS costs would be subject to regulatory review in future rate cases; (2) the PUC discouraged requesting single issue cost deferral accounting and/or cost recovery mechanisms during the period of rate case deferral by Hawaiian Electric and Hawaii Electric Light; (3) the PUC approved the agreed-upon recovery of CIP CT-1 and CIS project costs through the RAM, as set forth in the 2013 Agreement, however not setting a precedent for future projects; and (4) the PUC reaffirmed its right to rule on the substance of the Maui Electric 2012 test year rate case in its ongoing rate case proceeding. On May 31, 2013, the PUC issued a final D&O in the Maui Electric 2012 test year rate case. See “Maui Electric 2012 test year rate case” below. In March 2012, the PUC approved a settlement agreement reached among Hawaiian Electric, the Consumer Advocate and the Department of Defense, under which, in lieu of a regulatory audit, Hawaiian Electric would write off $9.5 million of EOTP Phase 1 gross plant in service and associated adjustments. This resulted in an after-tax charge to net income in the fourth quarter of 2011 of approximately $6 million and the elimination of the requirement for a Phase 1 regulatory audit. The PUC also provided for an additional increase of approximately $5 million in Hawaiian Electric’s 2011 test year rate case for the additional revenue requirements reflecting all remaining Phase 1 costs not previously included in rates or agreed to be written off. Renewable energy projects. The Utilities are committed to achieving or exceeding the State’s Renewable Portfolio Standard (RPS) goal of 40% renewable energy by 2030 and to decreasing the State’s dependence on imported fossil fuels. The Utilities continue to evaluate and pursue opportunities with developers of proposed projects to integrate power into its grid from a variety of renewable energy sources, including solar, biomass, wind, ocean thermal energy conversion, wave, geothermal and others. In November 2013, Hawaiian Electric and Maui Electric filed an application for recovery of its actual deferred costs totaling $405,000 (split evenly between Hawaiian Electric and Maui Electric) for outside contractor services for additional studies to determine the value proposition of interconnecting the islands of Oahu and of Maui County (Maui, Lanai, and Molokai) through the Renewable Energy Intrastructure Program (REIP) surcharge. The application is currently pending before the PUC. A revised draft Request for Proposals (RFP) for 200 MW or more of renewable energy to be delivered to Oahu from any of the Hawaiian Islands was posted on Hawaiian Electric's website prior to the issuance of a proposed final RFP. In February 2012, the PUC granted Hawaiian Electric’s request for deferred accounting treatment for the inter-island project support costs. The amount of the deferred costs was limited to $5.89 million . On July 11, 2013, the PUC issued orders related to the 200 MW RFP, including an order initiating a proceeding to solicit information and evaluate whether an interisland grid interconnection transmission system between the islands of Oahu and Maui is in the public interest, given the potential for large-scale wind and solar projects on Maui. In May 2012, the PUC instituted a proceeding for a competitive bidding process for up to 50 MW of firm renewable geothermal dispatchable energy (Geothermal RFP) on the island of Hawaii, and in July 2012, Hawaii Electric Light filed an application to defer 2012 costs related to the Geothermal RFP. In February 2013, Hawaii Electric Light issued the Final Geothermal RFP. Six bids were received, but Hawaii Electric Light notified bidders that none of the submitted bids sufficiently met both the low-cost and technical requirements of the Geothermal RFP. In October 2014, Hawaii Electric Light issued Addendum No. 1 (Best and Final Offer) and Attachment A (Best and Final Offer Bidder's Response Package) directly to five eligible bidders. The submittals received in January 2015 will be considered for final selection of one project to proceed with PPA negotiations. In the fourth quarter of 2014, Hawaiian Electric filed applications requesting PUC approval of power purchase agreements for renewable as-available energy for seven projects that were granted waivers from the Competitive Bidding Framework. 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 (CAA) 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 the 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 Department of Health of the State of Hawaii (DOH) can determine what entrainment or impingement controls, if any, might be appropriate. 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 also has pending with the EPA a Petition for Reconsideration and Stay dated April 16, 2012, and a Request for Expedited Consideration dated August 14, 2013. The submittals ask 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. Hawaiian Electric has been in contact with the EPA regarding the status of its Petition, but has not been given a time frame for an EPA decision or action. Due to the EPA’s delay in taking action on Hawaiian Electric’s Petition for Reconsideration submitted in April 2012, Hawaiian Electric submitted to the EPA, on February 20, 2015, a Notice of Intent to Sue as a prerequisite to bringing a civil action. 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 (SO2) 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 SO2 NAAQS. Under the proposed rule, the EPA expects to designate areas as attaining, or not attaining, the one-hour SO2 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 SO2 NAAQS and in developing cost-effective strategies for NAAQS compliance, if needed. Depending upon the specific measures required for compliance with the CWA 316(b) regulations and MATS, and 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 these regulatory initiatives may result in 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 and 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 December 31, 2014 ) 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 DOH and EPA 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 has been revised to address the EPA and DOH comments and the final site investigation plan was submitted to the DOH and EPA in December 2014. Pearl Harbor sediment study . The U.S. Navy is conducting a feasibility study for the remediation of contaminated sediment in Pearl Harbor. In the course of its study, the Navy identified elevated levels of PCBs in the sediment 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. The extent of the contamination, the appropriate remedial measures to address it, and Hawaiian Electric’s potential responsibility for any associated costs 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. 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. 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

Bank segment (HEI only)

Bank segment (HEI only)	12 Months Ended
	Dec. 31, 2014
Bank Segment Disclosure [Abstract]
Bank segment (HEI only)	5 · Bank segment (HEI only) Selected financial information American Savings Bank, F.S.B. Statements of Income Data Years ended December 31 2014 2013 2012 (in thousands) Interest and dividend income Interest and fees on loans $ 179,341 $ 172,969 $ 176,057 Interest and dividends on investment securities 11,945 13,095 13,822 Total interest and dividend income 191,286 186,064 189,879 Interest expense Interest on deposit liabilities 5,077 5,092 6,423 Interest on other borrowings 5,731 4,985 4,869 Total interest expense 10,808 10,077 11,292 Net interest income 180,478 175,987 178,587 Provision for loan losses 6,126 1,507 12,883 Net interest income after provision for loan losses 174,352 174,480 165,704 Noninterest income Fees from other financial services 21,747 27,099 31,361 Fee income on deposit liabilities 19,249 18,363 17,775 Fee income on other financial products 8,131 8,405 6,577 Bank-owned life insurance 3,949 3,928 3,981 Mortgage banking income 2,913 8,309 14,628 Gains on sale of investment securities 2,847 1,226 134 Other income, net 2,375 4,753 1,204 Total noninterest income 61,211 72,083 75,660 Noninterest expense Compensation and employee benefits 79,885 82,910 75,979 Occupancy 17,197 16,747 17,179 Data processing 11,690 10,952 10,098 Services 10,269 9,015 9,866 Equipment 6,564 7,295 7,105 Office supplies, printing and postage 6,089 4,233 3,870 Marketing 3,999 3,373 3,260 FDIC insurance 3,261 3,253 3,307 Other expense 20,990 21,726 21,679 Total noninterest expense 159,944 159,504 152,343 Income before income taxes 75,619 87,059 89,021 Income taxes 24,127 29,525 30,384 Net income $ 51,492 $ 57,534 $ 58,637 Statements of Comprehensive Income Years ended December 31 2014 2013 2012 (in thousands) Net income $ 51,492 $ 57,534 $ 58,637 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 $(3,856), $9,037 and ($631), for 2014, 2013 and 2012, respectively 5,840 (13,686 ) 956 Less: reclassification adjustment for net realized gains included in net income, net of taxes of $1,132, $488 and $53 for 2014, 2013 and 2012, respectively (1,715 ) (738 ) (81 ) Retirement benefit plans: Net gains (losses) arising during the period, net of (taxes) benefits of $6,164, ($10,450) and $5,240 for 2014, 2013 and 2012, respectively (9,336 ) 15,826 (7,936 ) Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $561, $1,187 and $684 for 2014, 2013 and 2012, respectively 850 1,797 1,036 Other comprehensive income (loss), net of taxes (4,361 ) 3,199 (6,025 ) Comprehensive income $ 47,131 $ 60,733 $ 52,612 Balance Sheets Data December 31 2014 2013 (in thousands) Assets Cash and due from banks $ 107,233 $ 108,998 Interest-bearing deposits 54,230 47,605 Available-for-sale investment securities, at fair value 550,394 529,007 Stock in Federal Home Loan Bank of Seattle, at cost 69,302 92,546 Loans receivable held for investment 4,434,651 4,150,229 Allowance for loan losses (45,618 ) (40,116 ) Net loans 4,389,033 4,110,113 Loans held for sale, at lower of cost or fair value 8,424 5,302 Other 304,435 268,063 Goodwill 82,190 82,190 Total assets $ 5,565,241 $ 5,243,824 Liabilities and shareholder’s equity Deposit liabilities–noninterest-bearing $ 1,342,794 $ 1,214,418 Deposit liabilities–interest-bearing 3,280,621 3,158,059 Other borrowings 290,656 244,514 Other 116,527 105,679 Total liabilities 5,030,598 4,722,670 Commitments and contingencies (see “Litigation” below) Common stock 1 1 Additional paid in capital 338,411 336,053 Retained earnings 212,789 197,297 Accumulated other comprehensive loss, net of tax benefits Net unrealized gains (losses) on securities $ 462 $ (3,663 ) Retirement benefit plans (17,020 ) (16,558 ) (8,534 ) (12,197 ) Total shareholder’s equity 534,643 521,154 Total liabilities and shareholder’s equity $ 5,565,241 $ 5,243,824 December 31 2014 2013 (in thousands) Other assets Bank-owned life insurance $ 134,115 $ 129,963 Premises and equipment, net 92,407 67,766 Prepaid expenses 3,196 3,616 Accrued interest receivable 13,632 13,133 Mortgage-servicing rights 11,540 11,687 Low-income housing equity investments 32,457 14,543 Real estate acquired in settlement of loans, net 891 1,205 Other 16,197 26,150 $ 304,435 $ 268,063 Other liabilities Accrued expenses $ 37,880 $ 19,989 Federal and state income taxes payable 26,806 37,807 Cashier’s checks 20,509 21,110 Advance payments by borrowers 9,652 9,647 Other 21,680 17,126 $ 116,527 $ 105,679 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. Available-for-sale investment securities. The major components of investment securities were as follows: Gross unrealized losses Gross Gross Estimated Less than 12 months 12 months or longer (dollars in thousands) Amortized cost unrealized gains unrealized losses fair value Number of issues Fair value Amount Number of issues Fair value Amount 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 ) December 31, 2013 Available-for-sale Federal agency obligations $ 83,193 $ 174 $ (2,394 ) $ 80,973 10 $ 70,799 $ (2,394 ) — $ — $ — Mortgage-related securities- FNMA, FHLMC and GNMA 374,993 4,911 (10,460 ) 369,444 36 228,543 (8,819 ) 4 19,655 (1,641 ) Municipal bonds 76,904 1,826 (140 ) 78,590 3 14,478 (140 ) — — — $ 535,090 $ 6,911 $ (12,994 ) $ 529,007 49 $ 313,820 $ (11,353 ) 4 $ 19,655 $ (1,641 ) During 2014, ASB sold all of the municipal bonds held in its investment securities portfolio. ASB does not believe that the investment securities that were in an unrealized loss position as of December 31, 2014, represent an other-than-temporary impairment. Total gross unrealized losses were primarily attributable to rising interest rates relative to when the investment securities were purchased and not due to the credit quality of the investment securities. The gross unrealized losses reported for mortgage-related securities are backed by the full faith and credit guaranty of the United States government or an agency of the government. ASB does not intend to sell the securities before the recovery of its amortized cost basis. ASB did not recognize OTTI for 2014 , 2013 and 2012 . 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: Amortized Fair December 31, 2014 Cost value (in thousands) Due in one year or less $ — $ — Due after one year through five years 34,953 35,007 Due after five years through ten years 47,131 47,885 Due after ten years 37,423 36,668 119,507 119,560 Mortgage-related securities-FNMA,FHLMC and GNMA 430,120 430,834 Total available-for-sale securities $ 549,627 $ 550,394 The proceeds, gross gains and losses from sales of available-for-sale investment securities were as follows: Years ended December 31 2014 2013 2012 (in millions) Proceeds $ 79.6 $ 71.4 $ 3.5 Gross gains 2.8 1.2 — Gross losses — — — Interest income from taxable and non-taxable investment securities were as follows: Years ended December 31 2014 2013 2012 (in thousands) Taxable $ 11,666 $ 11,474 $ 12,309 Non-taxable 279 1,621 1,513 $ 11,945 $ 13,095 $ 13,822 ASB pledged securities with a market value of approximately $88.6 million and $87.1 million as of December 31, 2014 and 2013 , respectively, as collateral for public funds deposits, automated clearinghouse transactions with Bank of Hawaii, and deposits in ASB’s bankruptcy account with the Federal Reserve Bank of San Francisco. As of December 31, 2014 and 2013 , securities with a carrying value of $230.2 million and $187.1 million , respectively, were pledged as collateral for securities sold under agreements to repurchase. Stock in FHLB of Seattle . As of December 31, 2014 and 2013 , ASB’s stock in FHLB of Seattle was carried at cost ( $69.3 million and $92.5 million , respectively) because it can only be redeemed at par and it is a required investment based on measurements of ASB’s capital, assets and borrowing levels. Periodically and as conditions warrant, ASB reviews its investment in the stock of the FHLB of Seattle for impairment. ASB evaluated its investment in FHLB stock for OTTI as of December 31, 2014 , consistent with its accounting policy. ASB did not recognize an OTTI loss for 2014 based on its evaluation of the underlying investment, including: • the net income and growth in retained earnings recorded by the FHLB of Seattle in the first nine months of 2014 ; • compliance by the FHLB of Seattle with all of its regulatory capital requirements and being classified “adequately capitalized” by the Federal Housing Finance Agency (Finance Agency); • being allowed by the Finance Agency to repurchase excess stock; • commitments by the FHLB of Seattle to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLB of Seattle; • the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the FHLB of Seattle; • the liquidity position of the FHLB of Seattle; and • ASB’s intent and assessment of whether it will more likely than not be required to sell the FHLB stock before recovery of its par value. Deterioration in the FHLB of Seattle’s financial position may result in future impairment losses. Loans receivable. The components of loans receivable were summarized as follows: December 31 2014 2013 (in thousands) Real estate: Residential 1-4 family $ 2,044,205 $ 2,006,007 Commercial real estate 531,917 440,443 Home equity line of credit 818,815 739,331 Residential land 16,240 16,176 Commercial construction 96,438 52,112 Residential construction 18,961 12,774 Total real estate 3,526,576 3,266,843 Commercial 791,757 783,388 Consumer 122,656 108,722 Total loans 4,440,989 4,158,953 Less: Deferred fees and discounts (6,338 ) (8,724 ) Allowance for loan losses (45,618 ) (40,116 ) Total loans, net $ 4,389,033 $ 4,110,113 The Company’s policy is to require private mortgage insurance on all real estate loans when the loan-to-value ratio of the property exceeds 80% of the lower of the appraised value or purchase price at origination. For non-owner occupied residential properties, the loan-to-value ratio may not exceed 80% of the lower of the appraised value or purchase price at origination. The Company is subject to the risk that the insurance company cannot satisfy the Company’s claim on policies. ASB services real estate loans for investors (principal balance of $1.4 billion , $1.4 billion and $1.3 billion as of December 31, 2014 , 2013 and 2012 , respectively), which are not included in the accompanying consolidated balance sheets data. ASB reports fees earned for servicing such loans as income when the related mortgage loan payments are collected and charges loan servicing cost to expense as incurred. As of December 31, 2014 and 2013 , ASB had pledged loans with an amortized cost of approximately $1.9 billion and $1.7 billion , respectively, as collateral to secure advances from the FHLB of Seattle. As of December 31, 2014 and 2013 , the aggregate amount of loans to directors and executive officers of ASB and its affiliates and any related interests (as defined in Federal Reserve Board (FRB) Regulation O) of such individuals, was $49.6 million and $45.8 million , respectively. The $3.8 million increase in such loans in 2014 was attributed to new commitments and loans of $6.4 million to new and existing directors and executive officers, offset by closed lines of credits and repayments of $2.6 million . As of December 31, 2014 and 2013 , $46.2 million and $40.5 million of the loan balances, respectively, were to related interests of individuals who are directors of ASB. All such loans were made at ASB’s normal credit terms. Management believes these loans do not represent more than a normal risk of collection. Allowance for loan losses. As discussed in Note 1, ASB must maintain an allowance for loan losses that is adequate to absorb estimated probable credit losses associated with its loan portfolio. The allowance for loan losses (balances and changes) and financing receivables were as follows: (in thousands) Residential 1-4 family Commercial Home equity Residential land Commercial construction Residential construction Commercial Consumer Unallo- cated Total December 31, 2014 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 (987 ) — (196 ) (81 ) — — (1,872 ) (2,414 ) — (5,550 ) Recoveries 1,180 — 752 469 — — 1,636 889 — 4,926 Provision (1,065 ) 3,895 1,197 (330 ) 3,074 9 (1,550 ) 2,787 (1,891 ) 6,126 Ending balance $ 4,662 $ 8,954 $ 6,982 $ 1,875 $ 5,471 $ 28 $ 14,017 $ 3,629 $ — $ 45,618 Ending balance: individually evaluated for impairment $ 951 $ 1,845 $ 46 $ 1,057 $ — $ — $ 760 $ 6 $ 4,665 Ending balance: collectively evaluated for impairment $ 3,711 $ 7,109 $ 6,936 $ 818 $ 5,471 $ 28 $ 13,257 $ 3,623 $ — $ 40,953 Financing Receivables: Ending balance $ 2,044,205 $ 531,917 $ 818,815 $ 16,240 $ 96,438 $ 18,961 $ 791,757 $ 122,656 $ 4,440,989 Ending balance: individually evaluated for impairment $ 22,981 $ 5,112 $ 779 $ 7,850 $ — $ — $ 13,108 $ 16 $ 49,846 Ending balance: collectively evaluated for impairment $ 2,021,224 $ 526,805 $ 818,036 $ 8,390 $ 96,438 $ 18,961 $ 778,649 $ 122,640 $ 4,391,143 December 31, 2013 Allowance for loan losses: Beginning balance $ 6,068 $ 2,965 $ 4,493 $ 4,275 $ 2,023 $ 9 $ 15,931 $ 4,019 $ 2,202 $ 41,985 Charge-offs (1,162 ) — (782 ) (485 ) — — (3,056 ) (2,717 ) — (8,202 ) Recoveries 1,881 — 358 868 — — 1,089 630 — 4,826 Provision (1,253 ) 2,094 1,160 (2,841 ) 374 10 1,839 435 (311 ) 1,507 Ending balance $ 5,534 $ 5,059 $ 5,229 $ 1,817 $ 2,397 $ 19 $ 15,803 $ 2,367 $ 1,891 $ 40,116 Ending balance: individually evaluated for impairment $ 642 $ 1,118 $ — $ 1,332 $ — $ — $ 2,246 $ — $ 5,338 Ending balance: collectively evaluated for impairment $ 4,892 $ 3,941 $ 5,229 $ 485 $ 2,397 $ 19 $ 13,557 $ 2,367 $ 1,891 $ 34,778 Financing Receivables: Ending balance $ 2,006,007 $ 440,443 $ 739,331 $ 16,176 $ 52,112 $ 12,774 $ 783,388 $ 108,722 $ 4,158,953 Ending balance: individually evaluated for impairment $ 20,317 $ 4,604 $ 1,179 $ 10,577 $ — $ — $ 21,225 $ 19 $ 57,921 Ending balance: collectively evaluated for impairment $ 1,985,690 $ 435,839 $ 738,152 $ 5,599 $ 52,112 $ 12,774 $ 762,163 $ 108,703 $ 4,101,032 Changes in the allowance for loan losses were as follows: (dollars in thousands) 2014 2013 2012 Allowance for loan losses, January 1 $ 40,116 $ 41,985 $ 37,906 Provision for loan losses 6,126 1,507 12,883 Charge-offs, net of recoveries Real estate loans (1,137 ) (678 ) 3,828 Other loans 1,761 4,054 4,976 Net charge-offs 624 3,376 8,804 Allowance for loan losses, December 31 $ 45,618 $ 40,116 $ 41,985 Ratio of net charge-offs to average total loans 0.01 % 0.09 % 0.24 % 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: December 31 2014 2013 (in thousands) Commercial real estate Commercial construction Commercial Commercial real estate Commercial construction Commercial Grade: Pass $ 493,105 $ 79,312 $ 743,334 $ 375,217 $ 52,112 $ 703,053 Special mention 5,209 — 16,095 33,436 — 17,634 Substandard 33,603 17,126 31,665 28,020 — 59,663 Doubtful — — 663 3,770 — 3,038 Loss — — — — — — Total $ 531,917 $ 96,438 $ 791,757 $ 440,443 $ 52,112 $ 783,388 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 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 $ — December 31, 2013 Real estate: Residential 1-4 family $ 2,728 $ 622 $ 15,411 $ 18,761 $ 1,987,246 $ 2,006,007 $ — Commercial real estate — — 3,770 3,770 436,673 440,443 — Home equity line of credit 765 312 960 2,037 737,294 739,331 — Residential land 184 48 2,756 2,988 13,188 16,176 — Commercial construction — — — — 52,112 52,112 — Residential construction — — — — 12,774 12,774 — Commercial 1,668 612 3,026 5,306 778,082 783,388 — Consumer 436 158 304 898 107,824 108,722 — Total loans $ 5,781 $ 1,752 $ 26,227 $ 33,760 $ 4,125,193 $ 4,158,953 $ — The credit risk profile based on nonaccrual loans, accruing loans 90 days or more past due, and TDR loans was as follows: December 31 2014 2013 (in thousands) Real estate: Residential 1-4 family $ 19,253 $ 19,679 Commercial real estate 5,112 4,439 Home equity line of credit 1,087 2,060 Residential land 720 3,161 Commercial construction — — Residential construction — — Commercial 10,053 18,781 Consumer 661 401 Total nonaccrual loans $ 36,886 $ 48,521 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 $ 13,525 $ 9,744 Commercial real estate — — Home equity line of credit 480 171 Residential land 7,130 7,476 Commercial construction — — Residential construction — — Commercial 2,972 1,649 Consumer — — Total troubled debt restructured loans not included above $ 24,107 $ 19,040 The total carrying amount and the total unpaid principal balance of impaired loans were as follows: December 31 2014 2013 (in thousands) Recorded investment Unpaid principal balance Related Allow- ance Average recorded investment Interest income recognized* Recorded investment Unpaid principal balance Related allow- ance Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 11,654 $ 12,987 $ — $ 9,056 $ 227 $ 9,708 $ 12,144 $ — $ 11,674 $ 386 Commercial real estate 571 626 — 194 — — — — 802 — Home equity line of credit 363 606 — 402 5 672 1,227 — 623 2 Residential land 2,344 3,200 — 2,728 172 2,622 3,612 — 6,675 482 Commercial construction — — — — — — — — — — Residential construction — — — — — — — — — — Commercial 8,235 11,471 — 5,204 38 3,466 4,715 — 4,837 12 Consumer — — — 8 — 19 19 — 20 — 23,167 28,890 — 17,592 442 16,487 21,717 — 24,631 882 With an allowance recorded Real estate: Residential 1-4 family 11,327 11,347 951 8,822 419 6,216 6,236 642 6,455 372 Commercial real estate 4,541 4,541 1,845 3,415 478 4,604 4,686 1,118 5,745 152 Home equity line of credit 416 420 46 132 6 — — — — — Residential land 5,506 5,584 1,057 6,415 484 7,452 7,623 1,332 6,844 409 Commercial construction — — — — — — — — — — Residential construction — — — — — — — — — — Commercial 4,873 5,211 760 12,089 438 17,759 20,640 2,246 15,635 139 Consumer 16 16 6 9 — — — — — — 26,679 27,119 4,665 30,882 1,825 36,031 39,185 5,338 34,679 1,072 Total Real estate: Residential 1-4 family 22,981 24,334 951 17,878 646 15,924 18,380 642 18,129 758 Commercial real estate 5,112 5,167 1,845 3,609 478 4,604 4,686 1,118 6,547 152 Home equity line of credit 779 1,026 46 534 11 672 1,227 — 623 2 Residential land 7,850 8,784 1,057 9,143 656 10,074 11,235 1,332 13,519 891 Commercial construction — — — — — — — — — — Residential construction — — — — — — — — — — Commercial 13,108 16,682 760 17,293 476 21,225 25,355 2,246 20,472 151 Consumer 16 16 6 17 — 19 19 — 20 — $ 49,846 $ 56,009 $ 4,665 $ 48,474 $ 2,267 $ 52,518 $ 60,902 $ 5,338 $ 59,310 $ 1,954 * Since loan was classified as impaired. Troubled debt restructurings. A loan modification is deemed to be a 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 during 2014 and 2013 were as follows: Years ended December 31 2014 2013 Number Outstanding recorded investment Net increase in ALLL (as of period end) Number Outstanding recorded investment Net increase in ALLL (as of period end) (dollars in thousands) of Pre-modification Post-modification of contracts Pre-modification Post-modification Troubled debt restructurings Real estate: Residential 1-4 family 38 $ 10,680 $ 10,737 $ 163 34 $ 8,876 $ 8,957 $ 297 Commercial real estate — — — — — — — — Home equity line of credit 8 502 502 42 5 637 390 — Residential land 18 4,304 4,304 242 20 6,215 6,206 131 Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial 7 3,827 3,827 13 7 4,646 4,646 94 Consumer — — — — — — — — 71 $ 19,313 $ 19,370 $ 460 66 $ 20,374 $ 20,199 $ 522 Loans modified in TDRs that experienced a payment default of 90 days or more in 2014 and 2013 , and for which the payment default occurred within one year of the modification, were as follows: Years ended December 31 2014 2013 (dollars in thousands) Number of contracts Recorded investment Number of contracts Recorded investment Troubled debt restructurings that subsequently defaulted Real estate: Residential 1-4 family 1 $ 390 — $ — Commercial real estate — — — — Home equity line of credit — — 1 67 Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial 1 14 2 660 Consumer — — — — 2 $ 404 3 $ 727 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 $0.5 million at December 31, 2014 . 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. ASB received $155.0 million , $273.8 million , and $513.0 million of proceeds from the sale of residential mortgages in 2014, 2013, and 2012, respectively, and recognized gains on such loans of $2.9 million , $8.3 million , and $14.6 million in 2014, 2013, and 2012, respectively. Repurchased mortgage loans in 2014, 2013, and 2012 were $0.5 million , $1.9 million and $0.4 million , respectively. Mortgage servicing fees, a component of other income, net, were $3.5 million , $3.3 million , and $2.8 million for the years ended December 31, 2014, 2013 and 2012, respectively. Changes in carrying value of mortgage servicing rights were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net December 31, 2014 $ 27,185 $ (15,436 ) $ (209 ) $ 11,540 December 31, 2013 $ 25,644 $ (13,706 ) $ (251 ) $ 11,687 Changes related to mortgage servicing rights were as follows: (in thousands) 2014 2013 2012 Mortgage servicing rights Balance, January 1 $ 11,938 $ 11,316 $ 8,402 Amount capitalized 1,637 2,611 4,845 Amortization (1,731 ) (1,802 ) (1,750 ) Other-than-temporary impairment (95 ) (187 ) (181 ) Carrying amount before valuation allowance, December 31 11,749 11,938 11,316 Valuation allowance for mortgage servicing rights Balance, January 1 251 498 175 Provision (recovery) 53 (60 ) 504 Other-than-temporary impairment (95 ) (187 ) (181 ) Balance, December 31 209 251 498 Net carrying value of mortgage servicing rights $ 11,540 $ 11,687 $ 10,818 The estimated aggregate amortization expenses of mortgage servicing rights for 2015 , 2016 , 2017 , 2018 and 2019 are $1.7 million , $1.5 million , $1.3 million , $1.1 million and $1.0 million , respectively. 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 ASB’s mortgage servicing rights were as follows: December 31 2014 2013 (dollars in thousands) Unpaid principal balance $ 1,391,030 $ 1,357,003 Weighted average note rate 4.07 % 4.07 % Weighted average discount rate 9.6 % 9.8 % Weighted average prepayment speed 9.5 % 8.6 % The sensitivity analysis of fair value of MSR to hypothetical adverse changes of 25 and 50 basis points in certain key assumptions was as follows: December 31 2014 2013 (in thousands) Prepayment rate: 25 basis points adverse rate change $ (757 ) $ (732 ) 50 basis points adverse change (1,524 ) (1,492 ) Discount rate: 25 basis points adverse rate change (140 ) (154 ) 50 basis points adverse change (278 ) (306 ) 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. Deposit liabilities. The summarized components of deposit liabilities were as follows: December 31 2014 2013 (dollars in thousands) Weighted-average stated rate Amount Weighted-average stated rate Amount Savings 0.06 % $ 1,923,062 0.06 % $ 1,826,907 Checking Interest-bearing 0.02 768,787 0.02 721,700 Noninterest-bearing — 665,005 — 643,628 Commercial checking — 677,789 — 570,790 Money market 0.12 158,010 0.13 182,546 Term certificates 0.83 430,762 0.80 426,906 0.11 % $ 4,623,415 0.11 % $ 4,372,477 As of December 31, 2014 and 2013 , term certificates of $100,000 or more totaled $120 million and $102 million , respectively. The approximate scheduled maturities of term certificates outstanding at December 31, 2014 were as follows: (in thousands) 2015 $ 255,896 2016 55,614 2017 44,315 2018 16,949 2019 54,979 Thereafter 3,009 $ 430,762 Interest expense on deposit liabilities by type of deposit was as follows: Years ended December 31 2014 2013 2012 (in thousands) Term certificates $ 3,603 $ 3,702 $ 4,865 Savings 1,134 1,052 1,128 Money market 214 232 319 Interest-bearing checking 126 106 111 $ 5,077 $ 5,092 $ 6,423 Other borrowings. Securities sold under agreements to repurchase . 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 pledge

Unconsolidated variable interes

Unconsolidated variable interest entities	12 Months Ended
	Dec. 31, 2014
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
Unconsolidated variable interest entities	6 · Unconsolidated variable interest entities 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 sheet as of December 31, 2014 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 statement for 2014 consisted of $3.4 million of interest income received from the 2004 Debentures; $3.3 million of distributions to holders of the Trust Preferred Securities; and $0.1 million of common dividends on the trust common securities to Hawaiian Electric. So 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 December 31, 2014 , the Utilities had seven 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: Years ended December 31 2014 2013 2012 (in millions) AES Hawaii $ 145 $ 134 $ 146 Kalaeloa 279 301 310 HEP 51 51 65 HPOWER 66 61 65 Other IPPs 181 164 138 Total IPPs $ 722 $ 711 $ 724 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, including the three largest, 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 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 December 31, 2014 , Hawaiian Electric’s accounts payable to Kalaeloa amounted to $13 million .

Short-term borrowings

Short-term borrowings	12 Months Ended
	Dec. 31, 2014
Short-term Debt [Abstract]
Short-term borrowings	7 · Short-term borrowings As of December 31, 2014 and 2013 , HEI had $119 million and $105 million of outstanding commercial paper, respectively, with a weighted-average interest rate of 0.7% and 0.7% , respectively, and Hawaiian Electric had no commercial paper outstanding. As of December 31, 2014 , HEI and Hawaiian Electric each maintained a syndicated credit facility of $150 million and $200 million , respectively. Both HEI and Hawaiian Electric had no borrowings under its facility during 2014 and 2013. None of the facilities are collateralized. 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 19% as of December 31, 2014 , 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 December 31, 2014 , 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 58% as of December 31, 2014 , 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.

Long-term debt

Long-term debt	12 Months Ended
	Dec. 31, 2014
Long-term Debt, Unclassified [Abstract]
Long-term debt	8 · Long-term debt December 31 2014 2013 (dollars in thousands) Long-term debt of Utilities 1 $ 1,206,546 $ 1,217,945 HEI term loan LIBOR + .90%, due 2016 125,000 — HEI medium-term note 6.51%, paid 2014 — 100,000 HEI senior note 4.41%, due 2016 75,000 75,000 HEI senior note 5.67%, due 2021 50,000 50,000 HEI senior note 3.99%, due 2023 50,000 50,000 $ 1,506,546 $ 1,492,945 1 See components of “Total long-term debt” and unamortized discount in Hawaiian Electric and subsidiaries’ Consolidated Statements of Capitalization. As of December 31, 2014 , the aggregate principal payments required on the Company’s long-term debt for 2015 through 2019 are nil in 2015, $200 million in 2016 , nil in 2017, $50 million in 2018 and nil in 2019 . As of December 31, 2014 , the aggregate payments of principal required on the Utilities' long-term debt for 2015 through 2019 are nil in 2015, 2016 , 2017 , $50 million in 2018 and nil in 2019 . The HEI medium-term notes and senior notes contain customary representation and warranties, affirmative and negative covenants, and events of default (the occurrence of which may result in some or all of the notes then outstanding becoming immediately due and payable). The HEI senior notes also contain provisions requiring the maintenance by HEI of certain financial ratios generally consistent with those in HEI’s revolving noncollateralized credit agreement, expiring on April 2, 2019. Upon a change of control or certain dispositions of assets (as defined in the Master Note Purchase Agreement dated March 24, 2011), HEI is required to offer to prepay the senior notes. The Utilities’ senior notes contain customary representations and warranties, affirmative and negative covenants, and events of default (the occurrence of which may result in some or all of the notes of each and all of the utilities then outstanding becoming immediately due and payable) and provisions requiring the maintenance by Hawaiian Electric, and each of Hawaii Electric Light and Maui Electric, of certain financial ratios generally consistent with those in Hawaiian Electric’s existing amended revolving noncollateralized credit agreement, expiring on April 2, 2019 (See Note 7 of the Consolidated Financial Statements). 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 1.14% through December 31, 2014. 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.

Shareholders' equity

Shareholders' equity	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Shareholders' equity	9 · Shareholders’ equity Reserved shares . As of December 31, 2014 , HEI had reserved (a) a total of 18,372,187 shares of common stock for future issuance under the HEI Dividend Reinvestment and Stock Purchase Plan (DRIP), the Hawaiian Electric Industries Retirement Savings Plan (HEIRSP), the 1987 Stock Option and Incentive Plan, the HEI 2011 Nonemployee Director Stock Plan, the ASB 401(k) Plan and the 2010 Executive Incentive Plan and (b) a total of 4.7 million shares of common stock for future issuance in connection with the equity forward transaction described below. 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, to the extent that the transactions are physically settled, HEI would be 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 is subject to certain adjustments in accordance with the terms of the equity forward transactions. Initially, the equity forward transactions had to be settled fully by March 25, 2015, but an amendment extended this date to December 31, 2015. Except in specified circumstances or events that would require physical settlement, HEI is able to elect to settle the equity forward transactions by means of physical, cash or net share settlement, in whole or in part, at any time on or prior to December 31, 2015. The equity forward transactions had no initial fair value since they were entered into at the then market price of the common stock. HEI receives proceeds from the sale of common stock when the equity forward transactions are settled and records the proceeds at that time in equity. HEI concluded that the equity forward transactions were equity instruments based on the accounting guidance in 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, HEI settled 1.3 million shares under the equity forward for proceeds of $32.1 million (net of the underwriting discount of $1.3 million ), which funds were ultimately used to purchase Hawaiian Electric shares. On July 14, 2014, HEI settled 1.0 million shares for proceeds of $23.9 million (net of underwriting discount of $1.0 million ), which funds were ultimately used to purchase Hawaiian Electric shares . At December 31, 2014 , the equity forward transactions could have been settled with delivery to the forward counterparty of (a) 4.7 million shares in exchange for cash of $106 million , (b) cash of approximately $51 million (which amount includes $5 million of underwriting discount), or (c) approximately 1.5 million shares. Prior to their settlement, the shares remaining under the equity forward transactions will be reflected in HEI’s diluted EPS calculations using the treasury stock method. Under this method, the number of shares of HEI’s common stock used in calculating diluted EPS for a reporting period would be increased by the number of shares, if any, that would be issued upon physical settlement of the equity forward transactions less the number of shares that could be purchased by HEI in the market (based on the average market price during that reporting period) using the proceeds receivable upon settlement of the equity forward transactions (based on the adjusted forward sale price of $ 22.63 as of December 31, 2014 ). The excess number of shares is weighted for the portion of the reporting period in which the equity forward transactions are outstanding. Accordingly, before physical or net share settlement of the equity forward transactions, and subject to the occurrence of certain events, HEI anticipates that the forward sale agreement and additional forward sale agreement will have a dilutive effect on HEI’s EPS only during periods when the applicable average market price per share of HEI’s common stock is above the per share adjusted forward sale price, as described above. However, if HEI decides to physically or net share settle the forward sale agreement and additional forward sale agreement, any delivery by HEI of shares upon settlement could result in dilution to HEI’s EPS. For 2014 and 2013, the equity forward transactions did not have a material dilutive effect on HEI’s EPS. Accumulated other comprehensive income/(loss) . Changes in the balances of each component of accumulated other comprehensive income/(loss) (AOCI) were as follows: HEI Consolidated Hawaiian Electric Consolidated (in thousands) Net unrealized gains (losses) on securities Unrealized losses on derivatives Retirement benefit plans AOCI AOCI -retirement benefit plans Balance, December 31, 2011 $ 9,886 $ (996 ) $ (28,027 ) $ (19,137 ) $ (32 ) Current period other comprehensive income (loss) 875 236 (8,397 ) (7,286 ) (938 ) Balance, December 31, 2012 10,761 (760 ) (36,424 ) (26,423 ) (970 ) Current period other comprehensive income (loss) (14,424 ) 235 23,862 9,673 1,578 Balance, December 31, 2013 (3,663 ) (525 ) (12,562 ) (16,750 ) 608 Current period other comprehensive income (loss) 4,125 236 (14,989 ) (10,628 ) (563 ) Balance, December 31, 2014 $ 462 $ (289 ) $ (27,551 ) $ (27,378 ) $ 45 Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Years ended December 31 2014 2013 2012 Affected line item in the Statement of Income (in thousands) HEI consolidated Net realized gains on securities $ (1,715 ) $ (738 ) $ (81 ) Revenues-bank (net gains on sales of securities) Derivatives qualified as cash flow hedges Interest rate contracts (settled in 2011) 236 235 236 Interest expense Retirement benefit plan items Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost 11,344 23,280 15,291 See Note 10 for additional details Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets 207,833 (222,595 ) 75,471 See Note 10 for additional details Total reclassifications $ 217,698 $ (199,818 ) $ 90,917 Hawaiian Electric consolidated Retirement benefit plan items Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost $ 10,212 $ 20,694 $ 13,673 See Note 10 for additional details Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets 207,833 (222,595 ) 75,471 See Note 10 for additional details Total reclassifications $ 218,045 $ (201,901 ) $ 89,144

Retirement benefits

Retirement benefits	12 Months Ended
	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Retirement benefits	10 · Retirement benefits Defined benefit plans. Substantially all of the employees of HEI and the Utilities participate in the Retirement Plan for Employees of Hawaiian Electric Industries, Inc. and Participating Subsidiaries (HEI Pension Plan). Substantially all of the employees of ASB and its subsidiaries participated in the American Savings Bank Retirement Plan (ASB Pension Plan) until it was frozen on December 31, 2007. The HEI Pension Plan and the ASB Pension Plan (collectively, the Plans) are qualified, noncontributory defined benefit pension plans and include, in the case of the HEI Pension Plan, benefits for utility union employees determined in accordance with the terms of the collective bargaining agreements between the Utilities and the union. The Plans are subject to the provisions of ERISA. In addition, some current and former executives and directors of HEI and its subsidiaries participate in noncontributory, nonqualified plans (collectively, Supplemental Plans). In general, benefits are based on the employees’ or directors’ years of service and compensation. The continuation of the Plans and the Supplemental Plans and the payment of any contribution thereunder are not assumed as contractual obligations by the participating employers. The Supplemental Plan for directors has been frozen since 1996. The ASB Pension Plan was frozen as of December 31, 2007. The HEI Supplemental Executive Retirement Plan and ASB Supplemental Executive Retirement, Disability, and Death Benefit Plan (noncontributory, nonqualified, defined benefit plans) were frozen as of December 31, 2008. No participants have accrued any benefits under these plans after the respective plan’s freeze and the plans will be terminated at the time all remaining benefits have been paid. Each participating employer reserves the right to terminate its participation in the applicable plans at any time, and HEI and ASB reserve the right to terminate their respective plans at any time. If a participating employer terminates its participation in the Plans, the interest of each affected participant would become 100% vested to the extent funded. Upon the termination of the Plans, assets would be distributed to affected participants in accordance with the applicable allocation provisions of ERISA and any excess assets that exist would be paid to the participating employers. Participants’ benefits in the Plans are covered up to certain limits under insurance provided by the Pension Benefit Guaranty Corporation. To determine pension costs for HEI and its subsidiaries under the Plans and the Supplemental Plans, it is necessary to make complex calculations and estimates based on numerous assumptions, including the assumptions identified under “Defined benefit pension and other postretirement benefit plans information” below. Postretirement benefits other than pensions. HEI and the Utilities provide eligible employees health and life insurance benefits upon retirement under the Postretirement Welfare Benefits Plan for Employees of Hawaiian Electric Company, Inc. and participating employers (Hawaiian Electric Benefits Plan). Eligibility of employees and dependents are based on eligibility to retire at termination, the retirement date and the date of hire. The plan was amended in 2011, changing eligibility for certain bargaining unit employees hired prior to May 1, 2011, based on new minimum age and service requirements effective January 1, 2012, per the collective bargaining agreement, and certain management employees hired prior to May 1, 2011 based on new eligibility minimum age and service requirements effective January 1, 2012. The minimum age and service requirements for management and bargaining unit employees hired May 1, 2011 and thereafter have increased and their dependents are not eligible to receive postretirement benefits. Employees may be eligible to receive benefits from the HEI Pension Plan but may not be eligible for postretirement welfare benefits if the different eligibility requirements are not met. The executive death benefit plan was frozen on September 10, 2009 to participants and benefit levels as of that date. The electric discount was eliminated for management employees and retirees of Hawaiian Electric in August 2009, Hawaii Electric Light in November 2010, and Maui Electric in August 2010, and for bargaining unit employees and retirees on January 31, 2011 per the collective bargaining agreement. The Company’s and Utilities' cost for OPEB has been adjusted to reflect the plan amendments, which reduced benefits and created prior service credits to be amortized over average future service of affected participants. The amortization of the prior service credit will reduce benefit costs over the next few years until the various credit bases are fully recognized. Each participating employer reserves the right to terminate its participation in the Hawaiian Electric Benefits Plan at any time. Balance sheet recognition of the funded status of retirement plans. Employers must recognize on their balance sheets the funded status of defined benefit pension and other postretirement benefit plans with an offset to AOCI in shareholders’ equity (using the projected benefit obligation (PBO), to calculate the funded status). The PUC allowed the Utilities to adopt pension and OPEB tracking mechanisms in previous rate cases. The amount of the net periodic pension cost (NPPC) and net periodic benefits costs (NPBC) to be recovered in rates is established by the PUC in each rate case. Under the Utilities’ tracking mechanisms, any actual costs determined in accordance with GAAP that are over/under amounts allowed in rates are charged/credited to a regulatory asset/liability. The regulatory asset/liability for each utility will then be amortized over 5 years beginning with the respective utility’s next rate case. Accordingly, all retirement benefit expenses (except for executive life and nonqualified pension plan expenses, which amounted to $1.2 million in 2014 and 2013 ) determined in accordance with GAAP will be recovered. Under the tracking mechanisms, amounts that would otherwise be recorded in AOCI (excluding amounts for executive life and nonqualified pension plans), which amounts include the prepaid pension asset, net of taxes, as well as other pension and OPEB charges, are allowed to be reclassified as a regulatory asset, as those costs will be recovered in rates through the NPPC and NPBC in the future. The Utilities have reclassified to a regulatory asset/(liability) charges for retirement benefits that would otherwise be recorded in AOCI (amounting to the elimination of a potential charge to AOCI of $340 million pretax and $(364) million pretax for 2014 and 2013 , respectively). In 2007, the PUC allowed Hawaii Electric Light to record a regulatory asset in the amount of $12.8 million (representing Hawaii Electric Light’s prepaid pension asset and reflecting the accumulated pension contributions to its pension fund in excess of accumulated NPPC), which is included in rate base, and allowed recovery of that asset over a period of five years . Hawaii Electric Light is required to make contributions to the pension trust in the amount of the actuarially calculated NPPC that would be allowed without penalty by the tax laws. In 2007, the PUC declined to allow Hawaiian Electric and Maui Electric to include their pension assets (representing the accumulated contributions to their pension fund in excess of accumulated NPPC), in their rate bases. However, under the tracking mechanisms, Hawaiian Electric and Maui Electric are required to fund only the minimum level required under the law until their pension assets are reduced to zero , at which time Hawaiian Electric and Maui Electric will make contributions to the pension trust in the amount of the actuarially calculated NPPC, except when limited by the ERISA minimum contribution requirements or the maximum contribution limitations on deductible contributions imposed by the Internal Revenue Code. The PUC’s exclusion of Hawaiian Electric’s and Maui Electric’s pension assets from rate base does not allow Hawaiian Electric and Maui Electric to earn a return on the pension asset, but this exclusion does not result in the exclusion of any pension benefit costs from their rates. The pension asset is to be (and has been, in the case of Maui Electric) recovered in rates (as NPPC is recorded in excess of contributions). As of December 31, 2014 , Hawaiian Electric’s pension asset had been reduced to nil. The OPEB tracking mechanisms generally require the Utilities to make contributions to the OPEB trust in the amount of the actuarially calculated NPBC, except when limited by material, adverse consequences imposed by federal regulations. Retirement benefits expense for the Utilities for 2014 , 2013 and 2012 was $32 million , $30 million and $32 million , respectively. Defined benefit pension and other postretirement benefit plans information. The changes in the obligations and assets of the Company’s and Utilities' retirement benefit plans and the changes in AOCI (gross) for 2014 and 2013 and the funded status of these plans and amounts related to these plans reflected in the Company’s and Utilities' consolidated balance sheet as of December 31, 2014 and 2013 were as follows: 2014 2013 (in thousands) Pension benefits Other benefits Pension benefits Other benefits HEI consolidated Benefit obligation, January 1 $ 1,446,291 $ 176,099 $ 1,590,304 $ 194,135 Service cost 49,264 3,490 56,405 4,306 Interest cost 72,202 8,550 64,788 7,569 Actuarial losses (gains) 342,446 39,098 (203,302 ) (21,743 ) Benefits paid and expenses (62,975 ) (8,028 ) (61,904 ) (8,168 ) Benefit obligation, December 31 1,847,228 219,209 1,446,291 176,099 Fair value of plan assets, January 1 1,186,669 179,330 971,314 156,731 Actual return on plan assets 81,123 9,149 194,130 29,164 Employer contributions 60,103 (257 ) 82,083 954 Benefits paid and expenses (61,835 ) (7,890 ) (60,858 ) (7,519 ) Fair value of plan assets, December 31 1,266,060 180,332 1,186,669 179,330 Accrued benefit asset (liability), December 31 $ (581,168 ) $ (38,877 ) $ (259,622 ) $ 3,231 Other assets $ 12,800 $ — $ 24,948 $ 7,200 Defined benefit pension and other postretirement benefit plans liability (593,968 ) (38,877 ) (284,570 ) (3,969 ) Accrued benefit asset (liability), December 31 $ (581,168 ) $ (38,877 ) $ (259,622 ) $ 3,231 AOCI debit/(credit), January 1 (excluding impact of PUC D&Os) $ 317,544 $ (21,722 ) $ 680,781 $ 18,846 Recognized during year – net recognized transition obligation — — — — Recognized during year – prior service credit (cost) (88 ) 1,793 97 1,793 Recognized during year – net actuarial losses (20,304 ) 11 (38,438 ) (1,602 ) Occurring during year – net actuarial losses (gains) 342,679 40,851 (324,896 ) (40,759 ) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 639,831 20,933 317,544 (21,722 ) Cumulative impact of PUC D&Os (592,291 ) (22,975 ) (294,266 ) 19,206 AOCI debit/(credit), December 31 $ 47,540 $ (2,042 ) $ 23,278 $ (2,516 ) Net actuarial loss (gain) $ 640,015 $ 35,022 $ 317,639 $ (5,840 ) Prior service gain (184 ) (14,089 ) (95 ) (15,882 ) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 639,831 20,933 317,544 (21,722 ) Cumulative impact of PUC D&Os (592,291 ) (22,975 ) (294,266 ) 19,206 AOCI debit/(credit), December 31 47,540 (2,042 ) 23,278 (2,516 ) Income taxes (benefits) (18,742 ) 795 (9,180 ) 980 AOCI debit/(credit), net of taxes (benefits), December 31 $ 28,798 $ (1,247 ) $ 14,098 $ (1,536 ) 2014 2013 (in thousands) Pension benefits Other benefits Pension benefits Other benefits Hawaiian Electric consolidated Benefit obligation, January 1 $ 1,320,810 $ 169,579 $ 1,449,445 $ 187,110 Service cost 47,597 3,392 54,482 4,163 Interest cost 65,979 8,234 59,119 7,288 Actuarial losses (gains) 314,210 38,488 (185,185 ) (20,900 ) Benefits paid and expenses (57,819 ) (7,933 ) (57,051 ) (8,082 ) Benefit obligation, December 31 1,690,777 211,760 1,320,810 169,579 Fair value of plan assets, January 1 1,058,260 176,291 861,778 154,186 Actual return on plan assets 69,242 9,036 172,822 28,700 Employer contributions 58,948 (274 ) 80,325 839 Benefits paid and expenses (57,445 ) (7,797 ) (56,665 ) (7,434 ) Fair value of plan assets, December 31 1,129,005 177,256 1,058,260 176,291 Accrued benefit asset (liability), December 31 $ (561,772 ) $ (34,504 ) $ (262,550 ) $ 6,712 Other assets $ — $ — $ — $ 7,200 Other liabilities (short-term) (421 ) (460 ) (388 ) (488 ) Defined benefit pension and other postretirement benefit plans liability (561,351 ) (34,044 ) (262,162 ) — Accrued benefit asset (liability), December 31 $ (561,772 ) $ (34,504 ) $ (262,550 ) $ 6,712 AOCI debit/(credit), January 1 (excluding impact of PUC D&Os) $ 295,973 $ (21,907 ) $ 623,588 $ 17,432 Recognized during year – net recognized transition asset — — — — Recognized during year – prior service credit (cost) (62 ) 1,804 464 1,803 Recognized during year – net actuarial losses (18,459 ) — (34,597 ) (1,544 ) Occurring during year – net actuarial losses (gains) 317,651 40,193 (293,482 ) (39,598 ) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 595,103 20,090 295,973 (21,907 ) Cumulative impact of PUC D&Os (592,291 ) (22,975 ) (294,266 ) 19,206 AOCI debit/(credit), December 31 $ 2,812 $ (2,885 ) $ 1,707 $ (2,701 ) Net actuarial loss (gain) $ 595,017 $ 34,192 $ 295,825 $ (6,001 ) Prior service cost (gain) 86 (14,102 ) 148 (15,906 ) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 595,103 20,090 295,973 (21,907 ) Cumulative impact of PUC D&Os (592,291 ) (22,975 ) (294,266 ) 19,206 AOCI debit/(credit), December 31 2,812 (2,885 ) 1,707 (2,701 ) Income taxes (benefits) (1,094 ) 1,122 (664 ) 1,050 AOCI debit/(credit), net of taxes (benefits), December 31 $ 1,718 $ (1,763 ) $ 1,043 $ (1,651 ) The dates used to determine retirement benefit measurements for the defined benefit plans were December 31 of 2014 , 2013 and 2012 . On Aug ust 8, 2014 and July 6, 2012, President Obama signed the Highway and Transportation Funding Act of 2014 (HATFA) and the Moving Ahead for Progress in the 21st Century Act (MAP-21), respectively, which included provisions related to the funding and administration of pension plans with no impact to the Company’s or the Utilities' accounting for pension benefits; therefore, the net periodic benefit costs disclosed for the plans were not affected. The Company elected to not apply HATFA to the 2013 plan year. The Company elected to apply MAP-21 for 2012, which improved the plans’ Adjusted Funding Target Attainment Percentage for funding and benefit distribution purposes and thereby reduced the 2012 minimum funding requirement and lifted the restrictions on accelerated distribution options (which restrictions were in effect from April 1, 2011 to September 30, 2012) for HEI and the Utilities. MAP-21 caused the minimum required funding under the Employee Retirement Income Security Act of 1974, as amended (ERISA) to be less than the net periodic cost for 2013 and 2014. Similarly, HATFA caused the minimum required funding under ERISA to be less than the net periodic cost for 2014; therefore, to satisfy the requirements of the Utilities pension and OPEB tracking mechanisms, the Utilities contributed the net periodic cost in 2014. 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 2012 and 2013 so that the more conservative assumptions did not apply for either the 2013 or 2014 valuation of plan liabilities for purposes of calculating the minimum required contribution. Other factors could cause changes to the required contribution levels. The Company and the Utilities have determined the market-related value of retirement benefit plan assets by calculating the difference between the expected return and the actual return on the fair value of the plan assets, then amortizing the difference over future years – 0% in the first year and 25% in each of years two through five – and finally adding or subtracting the unamortized differences for the past four years from fair value. The method includes a 15% range around the fair value of such assets (i.e., 85% to 115% of fair value). If the market-related value is outside the 15% range, then the amount outside the range will be recognized immediately in the calculation of annual NPBC. A primary goal of the plans is to achieve long-term asset growth sufficient to pay future benefit obligations at a reasonable level of risk. The investment policy target for defined benefit pension and OPEB plans reflects the philosophy that long-term growth can best be achieved by prudent investments in equity securities while balancing overall fund volatility by an appropriate allocation to fixed income securities. In order to reduce the level of portfolio risk and volatility in returns, efforts have been made to diversify the plans’ investments by asset class, geographic region, market capitalization and investment style. The asset allocation of defined benefit retirement plans to equity and fixed income securities managers and related investment policy targets and ranges were as follows: Pension benefits 1 Other benefits 2 Investment policy Investment policy December 31 2014 2013 Target Range 2014 2013 Target Range Assets held by category Equity securities managers 73 % 73 % 70 % 65-75 72 % 74 % 70 % 65-75 Fixed income securities managers 27 27 30 25-35 28 26 30 25-35 100 % 100 % 100 % 100 % 100 % 100 % 1 Asset allocation for 2014 is applicable to HEI and the Utilities. In 2014, ASB revised its defined benefit pension plan asset allocation to a liability driven investment strategy and as of December 31, 2014, all of its pension assets were invested in fixed income securities. In 2013, ASB’s assets were invested using an allocation consistent with that of HEI and the Utilities. 2 Asset allocation for 2014 and 2013 is applicable to only HEI and the Utilities. ASB does not fund its other benefits. See Note 16 for additional disclosures about the fair value of the retirement benefit plans’ assets. The following weighted-average assumptions were used in the accounting for the plans: Pension benefits Other benefits December 31 2014 2013 2012 2014 2013 2012 Benefit obligation Discount rate 4.22 % 5.09 % 4.13 % 4.17 % 5.03 % 4.07 % Rate of compensation increase 3.5 3.5 3.5 NA NA NA Net periodic benefit cost (years ended) Discount rate 5.09 4.13 5.19 5.03 4.07 4.90 Expected return on plan assets 7.75 7.75 7.75 7.75 7.75 7.75 Rate of compensation increase 3.5 3.5 3.5 NA NA NA NA Not applicable The Company and the Utilities based their selection of an assumed discount rate for 2015 NPBC and December 31, 2014 disclosure on a cash flow matching analysis that utilized bond information provided by Bloomberg for all non-callable, high quality bonds (i.e., rated AA- or better) as of December 31, 2014 . In selecting the expected rate of return on plan assets for 2015 NPBC: a) HEI and the Utilities considered economic forecasts for the types of investments held by the plans (primarily equity and fixed income investments), the Plans’ asset allocations, industry and corporate surveys and the past performance of the plans’ assets in selecting 7.75% and b) ASB considered its revised asset allocation in 2014 to a liability driven investment strategy in selecting 4.22% , which is consistent with the assumed discount rate for 2015. The Company and the Utilities adopted updated mortality tables published by the Society of Actuaries as its mortality assumptions as of December 31, 2014. The use of the RP-2014 Tables and the Mortality Improvement Scale MP-2014 had a significant effect on the Company’s and the Utilities’ benefit obligations. As of December 31, 2014 , the assumed health care trend rates for 2015 and future years were as follows: medical, 7.25% , grading down to 5% for 2024 and thereafter; dental, 5% ; and vision, 4% . As of December 31, 2013 , the assumed health care trend rates for 2014 and future years were as follows: medical, 7.5% , grading down to 5% for 2024 and thereafter; dental, 5% ; and vision, 4% . Medicare Advantage reimbursements are expected to phase out by 2016; therefore, post age 65 medical trends are adjusted to reflect anticipated increases above the ordinary medical trend rates. For post age 65 , the medical trend is 4% higher than pre- 65 for 2014 and 3% higher in 2015. The components of NPBC were as follows: Pension benefits Other benefits (in thousands) 2014 2013 2012 2014 2013 2012 HEI consolidated Service cost $ 49,264 $ 56,405 $ 43,221 $ 3,490 $ 4,306 $ 4,211 Interest cost 72,202 64,788 67,480 8,550 7,569 9,009 Expected return on plan assets (81,355 ) (72,537 ) (71,183 ) (10,902 ) (10,147 ) (10,336 ) Amortization of net transition obligation — — 1 — — — Amortization of net prior service (gain) cost 88 (97 ) (325 ) (1,793 ) (1,793 ) (1,793 ) Amortization of net actuarial loss (gains) 20,304 38,438 25,675 (11 ) 1,602 1,498 Net periodic benefit cost 60,503 86,997 64,869 (666 ) 1,537 2,589 Impact of PUC D&Os (13,324 ) (38,104 ) (15,754 ) 1,976 (1,458 ) (2,227 ) Net periodic benefit cost (adjusted for impact of PUC D&Os) 47,179 48,893 49,115 1,310 79 362 Hawaiian Electric consolidated Service cost $ 47,597 $ 54,482 $ 41,603 $ 3,392 $ 4,163 $ 4,014 Interest cost 65,979 59,119 61,453 8,234 7,288 8,703 Expected return on plan assets (72,661 ) (64,551 ) (64,004 ) (10,739 ) (10,002 ) (10,195 ) Amortization of net transition obligation — — — — — (9 ) Amortization of net prior service (gain) cost 62 (464 ) (689 ) (1,804 ) (1,803 ) (1,803 ) Amortization of net actuarial loss 18,459 34,597 23,428 — 1,544 1,455 Net periodic benefit cost 59,436 83,183 61,791 (917 ) 1,190 2,165 Impact of PUC D&Os (13,324 ) (38,104 ) (15,754 ) 1,976 (1,458 ) (2,227 ) Net periodic benefit cost (adjusted for impact of PUC D&Os) $ 46,112 $ 45,079 $ 46,037 $ 1,059 $ (268 ) $ (62 ) The estimated prior service credit, net actuarial loss and net transition obligation for defined benefit plans that will be amortized from AOCI or regulatory assets into net periodic benefit cost during 2015 is as follows: HEI consolidated Hawaiian Electric consolidated (in millions) Pension benefits Other benefits Pension benefits Other benefits Estimated prior service cost (credit) $ — $ (1.8 ) $ — $ (1.8 ) Net actuarial loss 35.8 1.7 32.4 1.7 Net transition obligation — — — — The Company recorded pension expense of $32 million , $34 million and $35 million and OPEB expense of $1.2 million , $0.4 million and $1.0 million in 2014 , 2013 and 2012 , respectively, and charged the remaining amounts primarily to electric utility plant. The Utilities recorded pension expense of $31 million , $30 million and $32 million and OPEB expense of $1.0 million , nil and $0.4 million in 2014 , 2013 and 2012 , respectively, and charged the remaining amounts primarily to electric utility plant. The health care cost trend rate assumptions can have a significant effect on the amounts reported for other benefits. As of December 31, 2014 , for the Company, a one-percentage-point increase in the assumed health care cost trend rates would have increased the total service and interest cost by $0.2 million and the accumulated postretirement benefit obligation (APBO) by $3.8 million , and a one-percentage-point decrease would have reduced the total service and interest cost by $0.3 million and the APBO by $4.6 million . As of December 31, 2014 , for the Utilities, a one-percentage-point increase in the assumed health care cost trend rates would have increased the total service and interest cost by $0.2 million and the APBO by $3.7 million , and a one-percentage-point decrease would have reduced the total service and interest cost by $0.3 million and the APBO by $4.5 million . HEI consolidated . The defined benefit pension plans with accumulated benefit obligations (ABOs), which do not consider projected pay increases (unlike the PBOs shown in the table above), in excess of plan assets as of December 31, 2014 and 2013 , had aggregate ABOs of $1.5 billion and $1.2 billion , respectively, and plan assets of $1.2 billion and $1.1 billion , respectively. The defined benefit pension plans with PBOs in excess of plan assets as of December 31, 2014 , had aggregate PBOs of $ 1.7 billion and plan assets of $ 1.2 billion . The defined benefit pension plans with PBOs in excess of plan assets as of December 31, 2013 , had aggregate PBOs of $ 1.4 billion and plan assets of $ 1.1 billion . As of December 31, 2014, the other postretirement benefit plans shown in the table above had ABOs in excess of plan assets. As of December 31, 2013 , the other postretirement benefit plans with ABOs in excess of plan assets had aggregate ABOs of $ 0.4 million and plan assets of nil . The Company estimates that the cash funding for the qualified defined benefit pension plans in 2015 will be $85 million , which should fully satisfy the minimum required contributions to those plans, including requirements of the Utilities’ pension tracking mechanisms and the Plan’s funding policy. The Company's current estimate of contributions to its other postretirement benefit plans in 2015 is $0.5 million . As of December 31, 2014 , the benefits expected to be paid under all retirement benefit plans in 2015 , 2016 , 2017 , 2018 , 2019 and 2020 through 2024 amounted to $76 million , $79 million , $83 million , $87 million , $91 million and $520 million , respectively. Hawaiian Electric consolidated . The defined benefit pension plans with ABOs in excess of plan assets as of December 31, 2014 and 2013 , had aggregate ABOs of $1.5 billion and $1.2 billion , respectively, and plan assets of $1.1 billion and $1.1 billion , respectively. All the defined benefit pension plans shown in the table above had PBOs in excess of plan assets as of December 31, 2014 and 2013 . As of December 31, 2014 , the other postretirement benefit plan shown in the table above had an ABO in excess of plan assets. As of December 31, 2013 , the other postretirement benefit plan shown in the table above had plan assets in excess of ABO. The Utilities estimate that the cash funding for the qualified defined benefit pension plan in 2015 will be $83 million , which should fully satisfy the minimum required contributions to that Plan, including requirements of the pension tracking mechanisms and the Plan’s funding policy. The Utilities' current estimate of contributions to its other postretirement benefit plans in 2015 is $0.5 million . As of December 31, 2014 , the benefits expected to be paid under all retirement benefit plans in 2015 , 2016 , 2017 , 2018 , 2019 and 2020 through 2024 amounted to $70 million , $73 million , $76 million , $79 million , $83 million and $476 million , respectively. Defined contribution plans information. The ASB 401(k) Plan is a defined contribution plan, which includes a discretionary employer profit sharing contribution by ASB (AmeriShare) and a matching contribution by ASB on the first 4% of employee deferrals (AmeriMatch). Changes to retirement benefits for HEI and utility employees commencing employment after April 30, 2011 include a reduction of benefits provided through the defined benefit plan and the addition of a 50% match by the applicable employer on the first 6% of employee deferrals through the defined contribution plan (under the Hawaiian Electric Industries Retirement Savings Plan). For 2014 , 2013 and 2012 , the Company’s expense for its defined contribution pension plans under the HEIRSP and the ASB 401(k) Plan was $5 million , $5 million and $4 million , respectively, and cash contributions were $5 million , $4 million and $4 million , respectively. The Utilities’ expense for its defined contribution pension plan under the HEIRSP Plan for 2014 and 2013 was $0.9 million and $0.6 million , respectively, and 2012 was de minimis.

Share-based compensation

Share-based compensation	12 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation	11 · Share-based compensation Under the 2010 Equity and Incentive Plan, 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 was amended and restated (EIP) effective March 1, 2014 and an additional 1.5 million shares was added to the shares available for issuance under these programs. As of December 31, 2014 , approximately 3.6 million shares were remaining 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 0.9 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 1987 Stock Option and Incentive Plan, as amended (SOIP), there are possible future issuances of an estimated 17,000 shares upon the exercise of outstanding SARs based on the market price of shares on December 31, 2014 . As of May 11, 2010 (when the 2010 Equity and Incentive Plan became effective), no new awards may be granted under the SOIP. After the shares of common stock for the outstanding SOIP grants and awards are issued or such grants and awards expire, the remaining shares registered under the SOIP will be deregistered and delisted. For the SARs outstanding under the SOIP, the exercise price of each SAR generally equaled the fair market value of HEI’s stock on or near the date of grant. SARs and related dividend equivalents issued in the form of stock awards generally became exercisable in installments of 25% each year for four years , and expire if not exercised ten years from the date of the grant. SARs compensation expense has been recognized in accordance with the fair value-based measurement method of accounting. The estimated fair value of each SAR grant was calculated on the date of grant using a Binomial Option Pricing Model. The restricted shares that have been issued under the 2010 Equity and Incentive Plan become unrestricted in four equal annual increments on the anniversaries of the grant date and are forfeited to the extent they have not become unrestricted for terminations of employment during the vesting period, except accelerated vesting is provided for terminations by reason of death, disability and termination without cause. Restricted shares compensation expense has been recognized in accordance with the fair-value-based measurement method of accounting. Dividends on restricted shares are paid quarterly in cash. There were no outstanding restricted shares as of December 31, 2014. Restricted stock units awarded under the 2010 Equity and Incentive Plan in 2014, 2013, 2012 and 2011 will vest and be issued in unrestricted stock in four equal annual increments on the anniversaries of the grant date and are forfeited to the extent they have not become vested for terminations of employment during the vesting period, except that pro-rata vesting is provided for terminations due to death, disability and retirement. Restricted stock units awarded under the SOIP and 2010 Equity and Incentive Plan in 2010 and prior years generally vest and will be issued as unrestricted stock four years after the date of the grant and are forfeited for terminations of employment during the vesting period, except that pro-rata vesting is provided for terminations due to death, disability and retirement. Restricted stock units expense has been recognized in accordance with the fair-value-based measurement method of accounting. Dividend equivalent rights are accrued quarterly and are paid at the end of the restriction period when the associated restricted stock units vest. Stock performance awards granted under the2012-2014, 2013-2015 and 2014-2016 LTIPs entitle the grantee to shares of common stock with dividend equivalent rights once service conditions and performance conditions are satisfied at the end of the three -year performance period. LTIP awards are forfeited for terminations of employment during the performance period, except that pro-rata participation is provided for terminations due to death, disability and retirement based upon completed months of service after a minimum of 12 months of service in the performance period. Compensation expense for the stock performance awards portion of the LTIP has been recognized in accordance with the fair-value-based measurement method of accounting for performance shares. 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 December 31, 2014 , there were 169,290 shares remaining available for future issuance under the 2011 Director Plan. The Company’s share-based compensation expense and related income tax benefit were as follows: (in millions) 2014 2013 2012 HEI consolidated Share-based compensation expense 1 $ 9.3 $ 7.8 $ 6.7 Income tax benefit 3.4 2.8 2.4 Hawaiian Electric consolidated Share-based compensation expense 1 3.1 2.3 1.8 Income tax benefit 1.2 0.9 0.7 1 $0.16 million , $0.11 million and $0.08 million of this share-based compensation expense was capitalized in 2014 , 2013 and 2012 , respectively. Stock awards. HEI granted HEI common stock to nonemployee directors of HEI, Hawaiian Electric and ASB under the 2011 Director Plan as follows: (dollars in millions) 2014 2013 2012 Shares granted 33,170 33,184 29,448 Fair value $ 0.8 $ 0.8 $ 0.8 Income tax benefit 0.3 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 grant date. Nonqualified stock options. Information about HEI’s NQSOs was as follows: 2013 2012 Shares (1) Shares (1) Outstanding, January 1 14,000 $ 20.49 55,500 $ 20.92 Granted — — — — Exercised (14,000 ) 20.49 (41,500 ) 21.06 Forfeited — — — — Expired — — — — Outstanding, December 31 — $ — 14,000 $ 20.49 Exercisable, December 31 — $ — 14,000 $ 20.49 (1) Weighted-average exercise price As of December 31, 2014 , there were no NQSOs outstanding. NQSO activity and statistics were as follows: (in thousands) 2013 2012 Cash received from exercise $ 287 $ 874 Intrinsic value of shares exercised 1 128 354 Tax benefit realized for the deduction of exercises 50 138 1 Intrinsic value is the amount by which the fair market value of the underlying stock and the related dividend equivalents exceeds the exercise price of the option. Stock appreciation rights. Information about HEI’s SARs is summarized as follows: 2014 2013 2012 Shares (1) Shares (1) Shares (1) Outstanding, January 1 164,000 $ 26.12 164,000 $ 26.12 282,000 $ 26.14 Granted — — — — — — Exercised (22,000 ) 26.18 — — (114,000 ) 26.17 Forfeited (62,000 ) 26.02 — — — — Expired — — — — (4,000 ) 26.18 Outstanding, December 31 80,000 $ 26.18 164,000 $ 26.12 164,000 $ 26.12 Exercisable, December 31 80,000 $ 26.18 164,000 $ 26.12 164,000 $ 26.12 (1) Weighted-average exercise price December 31, 2014 Outstanding & Exercisable (Vested) Year of Grant Number of shares underlying SARs Weighted-average remaining contractual life Weighted-average exercise price 2005 80,000 0.3 $ 26.18 As of December 31, 2014 , all SARs outstanding were exercisable and had an aggregate intrinsic value (including dividend equivalents) of $0.6 million . SARs activity and statistics were as follows: (in thousands) 2014 2013 2012 Intrinsic value of shares exercised 1 $ 29 $ — $ 197 Tax benefit realized for the deduction of exercises 11 — 77 1 Intrinsic value is the amount by which the fair market value of the underlying stock and the related dividend equivalents exceeds the exercise price of the right. Restricted shares and restricted stock awards. Information about HEI’s grants of restricted shares and restricted stock awards was as follows: 2014 2013 2012 Shares (1) Shares (1) Shares (1) Outstanding, January 1 4,503 $ 22.21 9,005 $ 22.21 46,807 $ 24.45 Granted — — — — — — Vested (4,503 ) 22.21 (4,502 ) 22.21 (37,802 ) 24.99 Forfeited — — — — — — Outstanding, December 31 — $ — 4,503 $ 22.21 9,005 $ 22.21 (1) Weighted-average grant-date fair value per share based on the closing or average price of HEI common stock on the date of grant. For 2014 , 2013 and 2012 , total restricted stock vested had a grant-date fair value of $0.1 million , $0.1 million and $0.9 million , respectively, and the tax benefits realized for the tax deductions related to restricted stock awards were nil for 2014 , nil for 2013 and $0.2 million for 2012 . Restricted stock units. Information about HEI’s grants of restricted stock units was as follows: 2014 2013 2012 Shares (1) Shares (1) Shares (1) Outstanding, January 1 288,151 $ 25.17 315,094 $ 22.82 247,286 $ 21.80 Granted 117,786 25.17 111,231 26.88 98,446 25.99 Vested (144,702 ) 24.09 (118,885 ) 20.48 (25,728 ) 24.68 Forfeited — — (19,289 ) 25.62 (4,910 ) 24.92 Outstanding, December 31 261,235 $ 25.77 288,151 $ 25.17 315,094 $ 22.82 Total weighted-average grant-date fair value of shares granted ($ millions) $ 3.0 $ 3.0 $ 2.6 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. For 2014 , 2013 and 2012 total restricted stock units and related dividends that vested had a fair value of $4.1 million , $3.7 million and $0.7 million , respectively, and the related tax benefits were $1.2 million , $0.9 million and $0.2 million , respectively. As of December 31, 2014 , there was $4.4 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 2.5 years . Long-term incentive plan payable in stock. The 2012-2014 long-term incentive plan (LTIP), 2013-2015 LTIP and 2014-2016 LTIP provide for performance awards under the 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 2012-2014 LTIP, 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, ASB net income and ASB return on assets – all based on the applicable three -year averages, and ASB return on assets relative to performance peers. LTIP linked to TRS . Information about HEI’s LTIP grants linked to TRS was as follows: 2014 2013 2012 Shares (1) Shares (1) Shares (1) Outstanding, January 1 232,127 $ 32.88 239,256 $ 29.12 197,385 $ 25.94 Granted 97,524 22.95 91,038 32.69 81,223 30.71 Vested (settled or lapsed) (70,189 ) 35.46 (87,753 ) 22.45 (35,397 ) 14.85 Forfeited (1,506 ) 28.32 (10,414 ) 32.72 (3,955 ) 30.82 Outstanding, December 31 257,956 $ 28.45 232,127 $ 32.88 239,256 $ 29.12 Total weighted-average grant-date fair value of shares granted ($ millions) $ 2.2 $ 3.0 $ 2.5 (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 2013 2012 Risk-free interest rate 0.66 % 0.38 % 0.33 % Expected life in years 3 3 3 Expected volatility 17.8 % 19.4 % 25.3 % Range of expected volatility for Peer Group 12.4% to 23.3% 12.4% to 25.3% 15.5% to 34.5% Grant date fair value (per share) $ 22.95 $ 32.69 $ 30.71 For 2014 , 2013 and 2012 , total vested LTIP awards linked to TRS and related dividends had a fair value of nil , $2.2 million and $0.6 million , respectively, and the related tax benefits were nil , $0.9 million and $0.2 million , respectively. For 2014, all of the shares vested (which were granted at target level based on the satisfaction of TRS performance) for the 2011-2013 LTIP lapsed. Of the 87,753 shares vested and granted (at target level based on the satisfaction of TRS performance) for the 2010-2012 LTIP, the HEI Compensation Committee approved settlement of 70,205 shares of HEI common stock in February 2013 ( 17,548 of the vested shares lapsed). As of December 31, 2014 , there was $2.2 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 1.5 years . LTIP awards linked to other performance conditions . Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows: 2014 2013 2012 Shares (1) Shares (1) Shares (1) Outstanding, January 1 296,843 $ 26.14 247,175 $ 25.04 182,498 $ 22.63 Granted 129,603 25.18 120,399 26.89 125,157 26.05 Vested and settled (65,089 ) 24.95 (18,280 ) 18.95 — — Increase above target (cancelled) 4,949 26.70 (41,599 ) 24.97 (50,786 ) 18.95 Forfeited (1,575 ) 26.07 (10,852 ) 26.20 (9,694 ) 24.44 Outstanding, December 31 364,731 $ 26.01 296,843 $ 26.14 247,175 $ 25.04 Total weighted-average grant-date fair value of shares granted (at target performance levels) ($ millions) $ 3.3 $ 3.2 $ 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 2014 and 2013, total vested LTIP awards linked to other performance conditions and related dividends had a fair value of $1.9 million and $0.6 million , respectively, and the related tax benefits were $0.8 million and $0.2 million , respectively. As of December 31, 2014 , there was $3.4 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 1.5 years .

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income taxes	12 · Income taxes The components of income taxes attributable to net income for common stock were as follows: HEI consolidated Hawaiian Electric consolidated Years ended December 31 2014 2013 2012 2014 2013 2012 (in thousands) Federal Current, as revised (1) $ (10,970 ) $ (1,520 ) $ (15,411 ) $ 1,108 $ 1,313 $ (26,965 ) Deferred, as revised (1) 91,159 73,680 82,138 68,775 58,024 79,437 Deferred tax credits, net — 224 187 — 224 186 80,189 72,384 66,914 69,883 59,561 52,658 State Current (7,339 ) (1,555 ) (4,654 ) (9,436 ) (3,720 ) (4,940 ) Deferred 12,756 6,719 8,710 14,172 6,483 7,441 Deferred tax credits, net 6,106 6,793 5,889 6,106 6,793 5,889 11,523 11,957 9,945 10,842 9,556 8,390 Total $ 91,712 $ 84,341 $ 76,859 $ 80,725 $ 69,117 $ 61,048 (1) As revised for HEI consolidated by $(44,732) for "Current" and $44,732 for "Deferred" for the year ended December 31, 2014 - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.” A reconciliation of the amount of income taxes computed at the federal statutory rate of 35% to the amount provided in the consolidated statements of income was as follows: HEI consolidated Hawaiian Electric consolidated Years ended December 31 2014 2013 2012 2014 2013 2012 (in thousands) Amount at the federal statutory income tax rate $ 91,672 $ 86,711 $ 76,092 $ 77,126 $ 67,914 $ 56,812 Increase (decrease) resulting from: State income taxes, net of federal income tax benefit 7,490 7,772 6,464 7,047 6,211 5,453 Other, net (7,450 ) (10,142 ) (5,697 ) (3,448 ) (5,008 ) (1,217 ) Total $ 91,712 $ 84,341 $ 76,859 $ 80,725 $ 69,117 $ 61,048 Effective income tax rate 35.0 % 34.0 % 35.4 % 36.6 % 35.6 % 37.6 % The Company's effective tax rate increased in 2014 compared to 2013 primarily due to the nondeductibility of merger costs, partly offset by increased tax credits in 2014 and the $2.7 million out-of-period income tax benefits in 2013 (see “Out-of-period income tax benefit”). The Utilities' effective tax rate increased in 2014 compared to 2013 primarily due to the out-of-period income tax benefits. The Company’s and the Utilities' effective tax rate decreased in 2013 compared to 2012 primarily due to $ 3.5 million lower deferred taxes related to the tax gross-up of AFUDC-equity and a $ 3.1 million (including $ 2.7 million related to the Utilities) out-of-period income tax benefit (see “Out-of-period income tax benefit”). The tax effects of book and tax basis differences that give rise to deferred tax assets and liabilities were as follows: HEI consolidated Hawaiian Electric consolidated December 31 2014 2013 2014 2013 (in thousands) Deferred tax assets Net operating loss $ — $ — 51,936 19,848 Other 58,352 57,239 17,663 17,295 Total deferred tax assets 58,352 57,239 69,599 37,143 Deferred tax liabilities Property, plant and equipment related 448,723 378,280 446,259 375,771 Repairs deduction 86,408 75,127 86,408 75,127 Regulatory assets, excluding amounts attributable to property, plant and equipment 33,795 33,251 33,795 33,251 Deferred RAM and RBA revenues 32,889 — 32,889 — Retirement benefits 25,336 29,280 28,758 23,851 Other 62,935 70,561 14,929 15,602 Total deferred tax liabilities 690,086 586,499 643,038 523,602 Net deferred income tax liability $ 631,734 $ 529,260 $ 573,439 $ 486,459 Prepayments and other (Current assets-debit) $ — $ — $ 32,915 $ 20,702 Other (Current liabilities-credit) — — 3,482 — Deferred income taxes (credit) 631,734 529,260 602,872 507,161 Net deferred income tax liability $ 631,734 $ 529,260 $ 573,439 $ 486,459 The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences are deductible. Based upon historical taxable income and projections for future taxable income, management believes it is more likely than not the Company and the Utilities will realize substantially all of the benefits of the deferred tax assets. As of December 31, 2014 , the valuation allowance for deferred tax benefits is not significant. In 2014 , the net deferred income tax liability continued to increase primarily as a result of accelerated tax deductions taken for bonus depreciation resulting from the Tax Increase Prevention Act of 2014 and the IRS approval of an accounting method that defers the recognition of Revenue Balance Account income. The Utilities are included in the consolidated federal and Hawaii income tax returns of HEI and are subject to the provisions of HEI’s tax sharing agreement, which determines each subsidiary’s (or subgroup's) income tax return liabilities and refunds on a standalone basis as if it filed a separate return (or subgroup consolidated return). Consequently, although HEI consolidated does not expect any unutilized net operating loss (NOL) as of December 31, 2014 , standalone Hawaiian Electric consolidated expects an unutilized NOL for federal tax purposes in accordance with the HEI tax sharing agreement. The deferred tax asset associated with this NOL is $52 million and is included in “Prepayments and other.” HEI consolidated. In 2014 , 2013 and 2012 , credit adjustments to interest expense on income taxes was reflected in “Interest expense – other than on deposit liabilities and other bank borrowings” in the amount of $1.7 million , $0.3 million and $1.4 million , respectively. The credit adjustments to interest expense were primarily due to the resolution of tax issues with the Internal Revenue Service (IRS). As of December 31, 2014 and 2013 , the total amount of accrued interest related to uncertain tax positions and recognized on the balance sheet in “Interest and dividends payable” was nil and $0.4 million , respectively. As of December 31, 2014 , the total amount of liability for uncertain tax positions was nil. Hawaiian Electric consolidated. In 2014 , 2013 and 2012 , credit adjustments to interest expense on income taxes was reflected in “Interest and other charges” in the amount of $0.7 million , $0.3 million and $0.5 million , respectively. The credit adjustments to interest expense were primarily due to the resolution of tax issues with the IRS. As of December 31, 2014 and 2013 , the total amount of accrued interest related to uncertain tax positions was nil. As of December 31, 2014 , the total amount of liability for uncertain tax positions was nil. The changes in total unrecognized tax benefits were as follows: HEI consolidated Hawaiian Electric consolidated (in millions) 2014 2013 2012 2014 2013 2012 Unrecognized tax benefits, January 1 $ 0.9 $ 0.8 $ 5.7 $ 0.5 $ 0.4 3.7 Additions based on tax positions taken during the year — — 0.3 — — 0.3 Reductions based on tax positions taken during the year — — — — — — Additions for tax positions of prior years 0.1 0.5 — 0.1 0.5 — Reductions for tax positions of prior years — (0.4 ) (4.1 ) — (0.4 ) (3.6 ) Settlements (1.0 ) — — (0.6 ) — — Lapses of statute of limitations — — (1.1 ) — — — Unrecognized tax benefits, December 31 $ — $ 0.9 $ 0.8 $ — $ 0.5 $ 0.4 The 2012 reduction in unrecognized tax benefits was primarily due to the IRS’s acceptance of the deductibility of costs of repairs to utility generation property for tax years 2007-2009. In 2014, the IRS completed its examination of the Company’s federal income tax returns for tax years 2010 and 2011. The Company and the IRS reached an agreement on all adjustments, primarily related to depreciation, and the Congressional Joint Committee on Taxation approved the resulting tax adjustments in October 2014. The income statement impact of the agreement was not material. Tax years 2007, 2009, and 2010 to 2013 remain subject to examination by the Department of Taxation of the State of Hawaii. As of December 31, 2014 , the disclosures above present the Company’s and the Utilities' accruals for potential tax liabilities and related interest. Based on information currently available, the Company and the Utilities believe these accruals have adequately provided for potential income tax issues with federal and state tax authorities and related interest, and that the ultimate resolution of tax issues for all open tax periods will not have a material adverse effect on its results of operations, financial condition or liquidity. Out-of-period income tax benefit. During 2013, the Company recorded a $3.1 million (including $2.7 million related to the Utilities) out-of-period income tax benefit, resulting primarily from the reversal of deferred tax liabilities due to errors in the amount of book over tax basis differences in plant and equipment. Management concluded that this out-of-period adjustment was not material to either the current or any prior period financial statements. Recent tax developments. In September 2013, the IRS issued final regulations addressing the acquisition, production and improvement of tangible property, which are effective January 1, 2014. Management evaluated the impact of these new regulations, and does not expect a material impact on the Utilities since specific guidance on network (i.e., transmission and distribution) assets and generation property has already been received and accounted for in its tax computations. The IRS also proposed regulations addressing the disposition of property. 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.

Cash flows

Cash flows	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Elements [Abstract]
Cash flows	13 · Cash flows Years ended December 31 2014 2013 2012 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates $ 84 $ 85 $ 84 Income taxes paid 47 18 17 Income taxes refunded 24 4 31 Hawaiian Electric consolidated Interest paid to non-affiliates 61 59 57 Income taxes paid 6 6 6 Income taxes refunded 8 32 9 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment-unpaid invoices and accruals, as revised for 2014 and restated for 2013 and 2012 (1) 43 (12 ) (8 ) Common stock dividends reinvested in HEI common stock 1 — 24 24 Loans transferred from held for investment to held for sale — 25 — Real estate acquired in settlement of loans 3 4 11 Obligations to fund low income housing investments, net 14 1 — Hawaiian Electric consolidated Electric utility property, plant and equipment AFUDC-equity 7 6 7 Estimated fair value of noncash contributions in aid of construction 3 5 10 Unpaid invoices and accruals, as revised for 2014 and restated for 2013 and 2012 (1) 40 (12 ) (8 ) (1) As revised or restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.” 1 The amounts shown represents common stock dividends reinvested in HEI common stock under the HEI DRIP in noncash transactions.

Regulatory restrictions on net

Regulatory restrictions on net assets	12 Months Ended
	Dec. 31, 2014
Regulatory Capital Requirements [Abstract]
Regulatory restrictions on net assets	14 · Regulatory restrictions on net assets As of December 31, 2014 , the Utilities could not transfer approximately $668 million of net assets to HEI in the form of dividends, loans or advances without PUC approval. ASB is required to notify the FRB and OCC prior to making any capital distribution (including dividends) to HEI (through ASB Hawaii). Generally, the FRB and OCC may disapprove or deny ASB’s request to make a capital distribution if the proposed distribution will cause ASB to become undercapitalized, or the proposed distribution raises safety and soundness concerns, or the proposed distribution violates a prohibition contained in any statute, regulation, or agreement between ASB and the OCC. As of December 31, 2014 , ASB could transfer approximately $103 million of net assets to HEI in the form of dividends and still maintain its “well-capitalized” position. HEI management expects that the regulatory restrictions will not materially affect the operations of the Company nor HEI’s ability to pay common stock dividends.

Significant group concentration

Significant group concentrations of credit risk	12 Months Ended
	Dec. 31, 2014
Risks and Uncertainties [Abstract]
Significant group concentrations of credit risk	15 · Significant group concentrations of credit risk Most of the Company’s business activity is with customers located in the State of Hawaii. The Utilities are regulated operating electric public utilities engaged in the generation, purchase, transmission, distribution and sale of electricity on the islands of Oahu, Hawaii, Maui, Lanai and Molokai in the State of Hawaii. The Utilities provide the only electric public utility service on the islands they serve. The Utilities grant credit to customers, all of whom reside or conduct business in the State of Hawaii. Most of ASB’s financial instruments are based in the State of Hawaii, except for the investment securities it owns. Substantially all real estate loans receivable are collateralized by real estate in Hawaii. ASB’s policy is to require mortgage insurance on all real estate loans with a loan to appraisal ratio in excess of 80% at origination.

Fair value measurements

Fair value measurements	12 Months Ended
	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Fair value measurements	16 · 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. Tax credit investments . The estimated fair value of tax credit investments was determined in relation to the yield an aquirer of these investments would expect in relation to yields experienced on current new issues or secondary market transactions. 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 fixed-rate 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 fixed-rate advances and repurchase agreements of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third party pricing services. For hybrid advances, fair value is obtained from an FHLB proprietary model mathematical approximation of the market value of the underlying hedge. The terms of the hedge are similar to the advances and therefore classified as Level 2 within the valuation hierarchy. 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 of Seattle, 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 (in thousands) Carrying or notional amount Quoted prices in active markets for identical assets (Level 1) Significant other Observable inputs (Level 2) Significant Unobservable inputs Total 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 of Seattle 69,302 — 69,302 — 69,302 Loans receivable, net 4,397,457 — — 4,578,822 4,578,822 Derivative assets 30,120 — 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 32,043 71 43 — 114 December 31, 2013 Financial assets Money market funds $ 10 $ — $ 10 $ — $ 10 Available-for-sale investment securities 529,007 — 529,007 — 529,007 Stock in Federal Home Loan Bank of Seattle 92,546 — 92,546 — 92,546 Loans receivable, net 4,115,415 — — 4,211,290 4,211,290 Derivative assets 46,356 98 531 — 629 Financial liabilities Deposit liabilities 4,372,477 — 4,374,377 — 4,374,377 Short-term borrowings—other than bank 105,482 — 105,482 — 105,482 Other bank borrowings 244,514 — 256,029 — 256,029 Long-term debt, net—other than bank 1,492,945 — 1,508,425 — 1,508,425 The Utilities' long-term debt, net (included in amount above) 1,217,945 — 1,228,966 — 1,228,966 Derivative liabilities 4,732 — 26 — 26 As of December 31, 2014 and 2013 , loans serviced by ASB for others had notional amounts of $1.4 billion and $1.4 billion , respectively, and the estimated fair value of the mortgage servicing rights for such loans was $14.5 million and $15.7 million , respectively. Fair value measurements on a recurring basis. Assets and liabilities measured at fair value on a recurring basis were as follows: December 31 2014 2013 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 $ — $ 430,834 $ — $ — $ 369,444 $ — U.S. Treasury and federal agency obligations — 119,560 — — 80,973 — Municipal bonds — — — — 78,590 — $ — $ 550,394 $ — $ — $ 529,007 $ — Derivative assets 1 Interest rate lock commitments $ — $ 393 $ — $ — $ 488 $ — Forward commitments — 5 — 98 43 — $ — $ 398 $ — $ 98 $ 531 $ — Derivative liabilities 1 Interest rate lock commitments $ — $ 3 $ — $ — $ 24 $ — Forward commitments 71 40 — — 2 — $ 71 $ 43 $ — $ — $ 26 $ — 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 years ended December 31, 2014 and 2013. 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 using (in millions) Balance Level 1 Level 2 Level 3 December 31, 2014 Loans $ 2 $ — $ — $ 2 Tax credit investments 9 — — 9 Real estate acquired in settlement of loans — — — — December 31, 2013 Loans 4 — — 4 Real estate acquired in settlement of loans — — — — For 2014 and 2013 , 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 (dollars in thousands) Fair value Valuation technique Significant unobservable input Range Weighted December 31, 2014 Residential loans $ 2,297 Fair value of property or collateral Appraised value less 7% selling cost 39-99% 83% Home equity lines of credit 3 Fair value of property or collateral Appraised value less 7% selling cost 7% Commercial loans 145 Fair value of property or collateral Fair value of business assets 91% Total loans $ 2,445 Tax credit investments $ 8,975 Discounted cash flow Present value of expected future cash flows 5-93% 88% Discount rate 7% Real estate acquired in settlement of loans $ 288 Fair value of property or collateral Appraised value less 7% selling cost 100% 100% December 31, 2013 Residential loans $ 2,361 Fair value of property or collateral Appraised value less 7% selling cost 44-96% 87% Home equity lines of credit 170 Fair value of property or collateral Appraised value less 7% selling cost 45-50% 50% Commercial loans 217 Fair value of property or collateral Fair value of business assets 19% Commercial loans 1,668 Discounted cash flow Present value of expected future cash flows 58% Discount rate 4.5% Total loans $ 4,416 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. Retirement benefit plans Assets held in various trusts for the retirement benefit plans are measured at fair value on a recurring basis and were as follows: Pension benefits Other benefits Fair value measurements using Fair value measurements using (in millions) December 31 Level 1 Level 2 Level 3 December 31 Level 1 Level 2 Level 3 2014 Equity securities $ 649 $ 649 $ — $ — $ 99 $ 99 $ — $ — Equity index funds 132 132 — — 19 19 — — Fixed income securities 428 121 307 — 49 43 6 — Pooled and mutual funds and other 82 1 81 — 14 3 11 — Total $ 1,291 $ 903 $ 388 $ — $ 181 $ 164 $ 17 $ — Cash, receivables and payables, net (25 ) (1 ) Fair value of plan assets $ 1,266 $ 180 2013 Equity securities $ 672 $ 672 $ — $ — $ 102 $ 102 $ — $ — Equity index funds 127 127 — — 19 19 — — Fixed income securities 350 122 228 — 46 40 6 — Pooled and mutual funds and other 84 — 83 1 13 — 13 — Total 1,233 $ 921 $ 311 $ 1 180 $ 161 $ 19 $ — Cash, receivables and payables, net (46 ) (1 ) Fair value of plan assets $ 1,187 $ 179 The fair values of the financial instruments shown in the table above represent the Company’s best estimates of the amounts that would be received upon sale of those assets or that would be paid to transfer those liabilities in an orderly transaction between market participants at that date. Those fair value measurements maximize the use of observable inputs. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects the Company’s judgments about the assumptions that market participants would use in pricing the asset or liability. Those judgments are developed by the Company based on the best information available in the circumstances. In connection with the adoption of the fair value measurement standards, the Company adopted the provisions of ASU No. 2009-12, “Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent),” which allows for the estimation of the fair value of investments in investment companies for which the investment does not have a readily determinable fair value, using net asset value per share or its equivalent as a practical expedient. The Company used the following valuation methodologies for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2014 and 2013 . Equity securities, equity index funds, U.S. Treasury fixed income securities and public mutual funds (Level 1) . Equity securities, equity index funds, U.S. Treasury fixed income securities and public mutual funds are valued at the closing price reported on the active market on which the individual securities or funds are traded. Fixed income securities and pooled and mutual funds and other (Level 2) . Fixed income securities, other than those issued by the U.S. Treasury, are valued based on yields currently available on comparable securities of issuers with similar credit ratings. Pooled and mutual funds include commingled equity funds and other closed funds, respectively, that are not open to public investment and are valued at the net asset value per share. Certain other investments are valued based on discounted cash flow analyses, using observable inputs. Other (Level 3) . Venture capital interest is valued at historical cost, modified by revaluation of financial assets and financial liabilities at fair value through profit or loss. For 2014 and 2013 , the changes in Level 3 assets were as follows: 2014 2013 (in thousands) Pension benefits Other benefits Pension benefits Other benefits Balance, January 1 $ 580 $ 18 $ 581 $ 18 Realized and unrealized losses (203 ) (6 ) (1 ) — Purchases and settlements, net (282 ) (8 ) — — Balance, December 31 $ 95 $ 4 $ 580 $ 18

Quarterly information (unaudite

Quarterly information (unaudited)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Quarterly information (unaudited)	17 · Quarterly information (unaudited) Selected quarterly information was as follows: Quarters ended Years ended (in thousands, except per share amounts) March 31 June 30 Sept. 30 Dec. 31 December 31 HEI consolidated 2014 Revenues $ 783,749 $ 798,657 $ 867,096 $ 790,040 $ 3,239,542 Operating income 88,306 82,275 91,102 67,241 328,924 Net income 46,400 41,894 48,286 33,630 170,210 Net income for common stock 45,927 41,421 47,815 33,157 168,320 Basic earnings per common share 1 0.45 0.41 0.47 0.32 1.65 Diluted earnings per common share 2 0.45 0.41 0.46 0.32 1.64 Dividends per common share 0.31 0.31 0.31 0.31 1.24 Market price per common share 3 High 26.80 25.65 26.89 35.00 35.00 Low 24.39 23.04 22.71 26.04 22.71 2013 Revenues $ 782,232 $ 794,567 $ 829,168 $ 832,503 $ 3,238,470 Operating income 68,825 80,207 88,038 78,349 315,419 Net income 34,152 41,061 48,707 39,486 163,406 Net income for common stock 33,679 40,588 48,236 39,013 161,516 Basic earnings per common share 1 0.34 0.41 0.49 0.39 1.63 Diluted earnings per common share 2 0.34 0.41 0.48 0.39 1.62 Dividends per common share 0.31 0.31 0.31 0.31 1.24 Market price per common share 3 High 27.92 28.30 27.24 27.15 28.30 Low 25.50 23.84 24.12 24.51 23.84 Hawaiian Electric consolidated 2014 Revenues $ 720,062 $ 738,429 $ 803,565 $ 725,267 $ 2,987,323 Operating income 70,666 70,068 76,156 58,878 275,768 Net income 35,919 34,729 39,377 29,611 139,636 Net income for common stock 35,420 34,230 38,879 29,112 137,641 2013 Revenues 717,441 728,525 764,054 770,152 2,980,172 Operating income 51,121 58,975 69,853 65,564 245,513 Net income 24,928 29,192 38,315 32,489 124,924 Net income for common stock 24,429 28,693 37,817 31,990 122,929 Note: HEI owns all of Hawaiian Electric's common stock, therefore per share data for Hawaiian Electric is not meaningful. 1 The quarterly basic earnings per common share are based upon the weighted-average number of shares of common stock outstanding in each quarter. 2 The quarterly diluted earnings per common share are based upon the weighted-average number of shares of common stock outstanding in each quarter plus the dilutive incremental shares at quarter end. 3 Market prices of HEI common stock (symbol HE) shown are as reported on the NYSE Composite Tape.

SCHEDULE I - CONDENSED FINANCIA

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT	12 Months Ended
	Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT	Hawaiian Electric Industries, Inc. SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT HAWAIIAN ELECTRIC INDUSTRIES, INC. (PARENT COMPANY) CONDENSED BALANCE SHEETS December 31 2014 2013 (dollars in thousands) Assets Cash and cash equivalents $ 276 $ 571 Accounts receivable 1,991 1,661 Property, plant and equipment, net 4,917 5,419 Deferred income tax assets 15,922 10,057 Other assets 11,070 9,550 Investments in subsidiaries, at equity 2,224,452 2,122,841 $ 2,258,628 $ 2,150,099 Liabilities and shareholders’ equity Liabilities Accounts payable $ 1,993 $ 817 Interest payable 2,583 4,630 Notes payable to subsidiaries 7,857 7,936 Commercial paper 118,972 105,482 Long-term debt, net 300,000 275,000 Retirement benefits liability 32,030 21,559 Other 3,765 7,605 467,200 423,029 Shareholders’ equity Preferred stock, no par value, authorized 10,000,000 shares; issued: none — — Common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 102,565,266 shares and 101,259,800 shares 1,521,297 1,488,126 Retained earnings 297,509 255,694 Accumulated other comprehensive loss (27,378 ) (16,750 ) 1,791,428 1,727,070 $ 2,258,628 $ 2,150,099 Note to Balance Sheets HEI Term loan LIBOR + .90%, due 2016 $ 125,000 $ — HEI medium-term note 6.51%, due 2014 — 100,000 HEI senior note 4.41%, due 2016 75,000 75,000 HEI senior note 5.67%, due 2021 50,000 50,000 HEI senior note 3.99%, due 2023 50,000 50,000 $ 300,000 $ 275,000 The aggregate payments of principal required subsequent to December 31, 2014 on long-term debt are nil in 2015, $200 million in 2016 , nil in 2017 , 2018 and 2019 . As of December 31, 2014 , HEI has a General Agreement of Indemnity in favor of both Liberty Mutual Insurance Company (Liberty) and Travelers Casualty and Surety Company of America (Travelers) for losses in connection with any and all bonds, undertakings or instruments of guarantee and any renewals or extensions thereof executed by Liberty or Travelers, including, but not limited to, a $0.2 million self-insured United States Longshore & Harbor bond and a $0.6 million self-insured automobile bond. The Company has revised its previously issued "Schedule I - Condensed Financial Information of Registrant; Hawaiian Electric Industries, Inc. (Parent Company); Condensed Balance Sheets" to correct for an error in the presentation of deferred tax amounts related to Hawaiian Electric’s net operating loss carryforwards as of December 31, 2013. Amounts were reclassified among deferred income tax assets, other assets, deferred income taxes (liabilities) and other liabilities. These adjustments are not considered material, individually or in the aggregate, to the previously issued Condensed Balance Sheet as of December 31, 2013 and had no impact on the Company's Consolidated Balance Sheet as of December 31, 2013. The table below illustrates the effects of these adjustments on the Condensed Balance Sheet for those line items affected: December 31, 2013 (in thousands) As previously filed As revised Difference Deferred income tax assets $ 1,594 $ 10,057 $ 8,463 Other assets 23,679 9,550 (14,129 ) Total assets 2,155,765 2,150,099 (5,666 ) Deferred income taxes 11,385 — (11,385 ) Other liabilities 1,886 7,605 5,719 Total liabilities 428,695 423,029 (5,666 ) Total liabilities and shareholders' equity 2,155,765 2,150,099 (5,666 ) Hawaiian Electric Industries, Inc. SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (continued) HAWAIIAN ELECTRIC INDUSTRIES, INC. (PARENT COMPANY) CONDENSED STATEMENTS OF INCOME Years ended December 31 2014 2013 2012 (in thousands) Revenues $ 303 $ 288 $ 221 Equity in net income of subsidiaries 188,534 180,359 157,883 Expenses: Operating, administrative and general 20,921 16,063 16,191 Depreciation of property, plant and equipment 575 596 672 Taxes, other than income taxes 469 497 421 Interest expense 11,599 16,207 16,695 Income before income tax benefits 155,273 147,284 124,125 Income tax benefits 13,047 14,232 14,533 Net income $ 168,320 $ 161,516 $ 138,658 The Company’s financial reporting policy for income tax allocations is based upon a separate entity concept whereby each subsidiary provides income tax expense (or benefits) as if each were a separate taxable entity. The difference between the aggregate separate tax return income tax provisions and the consolidated financial reporting income tax provision is charged or credited to HEI’s separate tax provision. HAWAIIAN ELECTRIC INDUSTRIES, INC. (PARENT COMPANY) STATEMENTS OF COMPREHENSIVE INCOME STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY Incorporated by reference are HEI and Subsidiaries’ Statements of Consolidated Comprehensive Income and Consolidated Statements of Changes in Shareholders’ Equity in Part II, Item 8. Hawaiian Electric Industries, Inc. SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (continued) HAWAIIAN ELECTRIC INDUSTRIES, INC. (PARENT COMPANY) CONDENSED STATEMENTS OF CASH FLOWS Years ended December 31 2014 2013 2012 (As restated) (in thousands) Net cash provided by operating activities $ 100,794 $ 82,274 $ 127,118 Cash flows from investing activities Capital expenditures (74 ) (201 ) (410 ) Investments in subsidiaries (40,000 ) (78,500 ) (44,000 ) Net cash used in investing activities (40,074 ) (78,701 ) (44,410 ) Cash flows from financing activities Net increase (decrease) in notes payable to subsidiaries with original maturities of three months or less (222 ) 56 (1,797 ) Net increase in short-term borrowings with original maturities of three months or less 13,490 21,788 14,873 Proceeds from issuance of long-term debt 125,000 50,000 — Repayment of long-term debt (100,000 ) (50,000 ) (7,000 ) Excess tax benefits from share-based payment arrangements 277 430 61 Net proceeds from issuance of common stock 26,898 55,086 23,613 Common stock dividends (126,458 ) (98,383 ) (96,202 ) Net cash used in financing activities (61,015 ) (21,023 ) (66,452 ) Net increase (decrease) in cash and equivalents (295 ) (17,450 ) 16,256 Cash and cash equivalents, January 1 571 18,021 1,765 Cash and cash equivalents, December 31 $ 276 $ 571 $ 18,021 Supplemental disclosures of noncash activities: In 2014 , 2013 and 2012 , $2.4 million , $2.3 million and $1.8 million , respectively, of HEI accounts receivable from ASB Hawaii were reduced with a corresponding reduction in HEI notes payable to ASB Hawaii in noncash transactions. In 2014 , 2013 and 2012 , $2.5 million , $2.5 million and $2.5 million , respectively, were contributed as equity by HEI into ASB Hawaii with a corresponding increase in HEI notes payable to ASB Hawaii in noncash transactions. Under the HEI Dividend Reinvestment and Stock Purchase Plan (DRIP), common stock dividends reinvested by shareholders in HEI common stock in noncash transactions amounted to nil , $24 million and $24 million in 2014 , 2013 and 2012 , respectively. HEI satisfied the requirements of the HEI DRIP, Hawaiian Electric Industries Retirement Savings Plan (HEIRSP) and ASB 401(k) Plan (from March 6, 2014 to date and from August 18, 2011 through January 8, 2012) by acquiring for cash its common shares through open market purchases rather than by issuing additional shares. Note: The “Notes to Consolidated Financial Statements” in Part II, Item 8 should be read in conjunction with the above HEI (Parent Company) financial statements. The Company has revised its previously issued "Schedule I - Condensed Financial Information of Registrant; Hawaiian Electric Industries, Inc. (Parent Company); Condensed Statements of Cash Flows" for the year ended December 31, 2014 to correct for an error in the presentation of deferred tax expense related to Hawaiian Electric’s net operating loss carryforwards. The Company has restated its previously issued "Schedule I - Condensed Financial Information of Registrant; Hawaiian Electric Industries, Inc. (Parent Company); Condensed Statements of Cash Flows" for the year ended December 31, 2013 to correct for an error in the presentation of deferred tax expense related to Hawaiian Electric’s net operating loss carryforwards. Amounts were reclassified among “increase in deferred income taxes” and “change in prepaid and accrued income taxes”. These adjustments are not considered material, individually or in the aggregate, to the previously issued Condensed Statements of Cash Flows for the year ended December 31, 2014. The table below illustrates the effects of these adjustments on the Condensed Statement of Cash Flows for those line items affected. The Company has adjusted the presentation of the Condensed Statements of Cash Flows to reflect a condensed presentation and as such, no longer breaks out the components of operating activities. The below adjustments do not have an impact to total cash provided by operating activities: (in thousands) As previously filed As corrected (1) Difference Year ended December 31, 2014 Decrease in deferred income taxes $ (15,913 ) $ (3,269 ) $ 12,644 Change in prepaid and accrued income taxes 15,867 3,223 (12,644 ) Year ended December 31, 2013 (restated) Increase in deferred income taxes 15,228 1,086 (14,142 ) Change in prepaid and accrued income taxes (15,604 ) (1,462 ) 14,142 (1) The Company has adjusted the presentation of the Condensed Statements of Cash Flows to reflect a condensed presentation and as such, no longer breaks out the components of operating activities.

SCHEDULE II-VALUATION AND QUALI

SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2014
Valuation and Qualifying Accounts [Abstract]
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS	Hawaiian Electric Industries, Inc. and subsidiaries and Hawaiian Electric Company, Inc. and subsidiaries SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS Years ended December 31, 2014, 2013 and 2012 Col. A Col. B Col. C Col. D Col. E (in thousands) Additions Description Balance at begin- ning of period Charged to costs and expenses Charged to other accounts Deductions Balance at end of period 2014 Allowance for uncollectible accounts – electric utility $ 2,329 $ 1,384 $ 1,613 (a) $ 3,367 (b) $ 1,959 Allowance for uncollectible interest – bank $ 1,661 $ — $ — $ 147 $ 1,514 Allowance for losses for loans receivable – bank $ 40,116 $ 6,126 $ 4,926 (a) $ 5,550 (b) $ 45,618 Allowance for mortgage-servicing assets – bank $ 251 $ 53 $ — $ 95 $ 209 Deferred tax valuation allowance – HEI $ 278 $ 17 $ — $ 250 $ 45 2013 Allowance for uncollectible accounts – electric utility $ 2,148 $ 3,812 $ 1,943 (a) $ 5,574 (b) $ 2,329 Allowance for uncollectible interest – bank $ 3,166 $ — $ — $ 1,505 $ 1,661 Allowance for losses for loans receivable – bank $ 41,985 $ 1,507 $ 4,826 (a) $ 8,202 (b) $ 40,116 Allowance for mortgage-servicing assets – bank $ 498 $ — $ (60 ) $ 187 $ 251 Deferred tax valuation allowance – HEI $ 278 $ — $ — $ — $ 278 2012 Allowance for uncollectible accounts – electric utility $ 2,221 $ 3,230 $ 1,180 (a) $ 4,483 (b) $ 2,148 Allowance for uncollectible interest – bank $ 4,825 $ — $ — $ 1,659 $ 3,166 Allowance for losses for loans receivable – bank $ 37,906 $ 12,883 $ 4,026 (a) $ 12,830 (b) $ 41,985 Allowance for mortgage-servicing assets – bank $ 175 $ 504 $ — $ 181 $ 498 Deferred tax valuation allowance – HEI $ 278 $ — $ — $ — $ 278 (a) Primarily recoveries. (b) Bad debts charged off.

Summary of significant accoun31

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Basis of presentation	In preparing the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP), management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change for the Company include the amounts reported for investment and mortgage-related securities (ASB only); property, plant and equipment; pension and other postretirement benefit obligations; contingencies and litigation; income taxes; regulatory assets and liabilities (Utilities only); electric utility revenues (Utilities only); and allowance for loan losses (ASB only).
Consolidation	Consolidation. The HEI consolidated financial statements include the accounts of HEI and its subsidiaries (collectively, the Company). The Hawaiian Electric consolidated financial statements include the accounts of Hawaiian Electric and its subsidiaries. The consolidated financial statements exclude subsidiaries which are variable interest entities (VIEs) when the Company or the Utilities are not the primary beneficiaries. Investments in companies over which the Company or the Utilities have the ability to exercise significant influence, but not control, are accounted for using the equity method. All material intercompany accounts and transactions have been eliminated in consolidation. See Note 6 for information regarding unconsolidated VIEs.
Cash and cash equivalents	Cash and cash equivalents. The Utilities consider cash on hand, deposits in banks, money market accounts, certificates of deposit, short-term commercial paper of non-affiliates and liquid investments (with original maturities of three months or less) to be cash and cash equivalents. The Company considers the same items to be cash and cash equivalents as well as ASB’s deposits with the Federal Home Loan Bank (FHLB) of Seattle, federal funds sold (excess funds that ASB loans to other banks overnight at the federal funds rate) and securities purchased under resale agreements.
Equity method	Equity method. Investments in up to 50% -owned affiliates over which the Company or the Utilities have the ability to exercise significant influence over the operating and financing policies and investments in unconsolidated subsidiaries (e.g. HECO Capital Trust III) are accounted for under the equity method, whereby the investment is carried at cost, plus (or minus) the equity in undistributed earnings (or losses) and minus distributions since acquisition. Equity in earnings or losses is reflected in operating revenues. Equity method investments are also evaluated for OTTI.
Property, plant and equipment	Property, plant and equipment. Property, plant and equipment are reported at cost. Self-constructed electric utility plant includes engineering, supervision, administrative and general costs and an allowance for the cost of funds used during the construction period. These costs are recorded in construction in progress and are transferred to utility plant when construction is completed and the facilities are either placed in service or become useful for public utility purposes. Costs for betterments that make utility plant more useful, more efficient, of greater durability or of greater capacity are also capitalized. Upon the retirement or sale of electric utility plant, generally no gain or loss is recognized. The cost of the plant retired is charged to accumulated depreciation. Amounts collected from customers for cost of removal (expected to exceed salvage value in the future) are included in regulatory liabilities.
Depreciation	Depreciation. Depreciation is computed primarily using the straight-line method over the estimated lives of the assets being depreciated. Electric utility plant additions in the current year are depreciated beginning January 1 of the following year in accordance with rate-making. Electric utility plant has lives ranging from 20 to 88 years for production plant, from 25 to 65 years for transmission and distribution plant and from 5 to 65 years for general plant.
Leases	Leases. HEI, the Utilities and ASB have entered into lease agreements for the use of equipment and office space. The provisions of some of the lease agreements contain renewal options.
Retirement benefits	Retirement benefits. Pension and other postretirement benefit costs are charged primarily to expense and electric utility plant (in the case of the Utilities). Funding for the Company’s qualified pension plans (Plans) is based on actuarial assumptions adopted by the Pension Investment Committee administering the Plans on the advice of an enrolled actuary. The participating employers contribute amounts to a master pension trust for the Plans in accordance with the funding requirements of the Employee Retirement Income Security Act of 1974, as amended (ERISA), including changes promulgated by the Pension Protection Act of 2006, and considering the deductibility of contributions under the Internal Revenue Code. The Company generally funds at least the net periodic pension cost during the year, subject to limits and targeted funded status as determined with the consulting actuary. Under a pension tracking mechanism approved by the Public Utilities Commission of the State of Hawaii (PUC), the Utilities generally will make contributions to the pension fund at the greater of the minimum level required under the law or net periodic pension cost. Certain health care and/or life insurance benefits are provided to eligible retired employees and the employees’ beneficiaries and covered dependents. The Company generally funds the net periodic postretirement benefit costs other than pensions (except for executive life) and the amortization of the regulatory asset for postretirement benefits other than pensions (OPEB), while maximizing the use of the most tax advantaged funding vehicles, subject to cash flow requirements and reviews of the funded status with the consulting actuary. The Utilities must fund OPEB costs as specified in the OPEB tracking mechanisms, which were approved by the PUC. Future decisions in rate cases could further impact funding amounts. The Company and the Utilities recognize on their respective balance sheets the funded status of their defined benefit pension and other postretirement benefit plans, as adjusted by the impact of decisions of the PUC.
Environmental expenditures	Environmental expenditures. The Company and the Utilities are subject to numerous federal and state environmental statutes and regulations. In general, environmental contamination treatment costs are charged to expense, unless it is probable that the PUC would allow such costs to be recovered in future rates, in which case such costs would be capitalized as regulatory assets. Also, environmental costs are capitalized if the costs extend the life, increase the capacity, or improve the safety or efficiency of property; the costs mitigate or prevent future environmental contamination; or the costs are incurred in preparing the property for sale. Environmental costs are either capitalized or charged to expense when environmental assessments and/or remedial efforts are probable and the cost can be reasonably estimated.
Financing costs	Financing costs. Financing costs related to the registration and sale of HEI common stock are recorded in shareholders’ equity. HEI uses the straight-line method, which approximates the effective interest method, to amortize the long-term debt financing costs of the holding company over the term of the related debt. The Utilities use the straight-line method, which approximates the effective interest method, to amortize long-term debt financing costs and premiums or discounts over the term of the related debt. Unamortized financing costs and premiums or discounts on the Utilities' long-term debt retired prior to maturity are classified as regulatory assets (costs and premiums) or liabilities (discounts) and are amortized on a straight-line basis over the remaining original term of the retired debt. The method and periods for amortizing financing costs, premiums and discounts, including the treatment of these items when long-term debt is retired prior to maturity, have been established by the PUC as part of the rate-making process. HEI and the Utilities use the straight-line method to amortize the fees and related costs paid to secure a firm commitment under their line-of-credit arrangements.
Income taxes	Income taxes. Deferred income tax assets and liabilities are established for the temporary differences between the financial reporting bases and the tax bases of the Company’s and the Utilities' assets and liabilities at federal and state tax rates expected to be in effect when such deferred tax assets or liabilities are realized or settled. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount expected to be realized. The Company recognizes investment tax credits as a reduction of income tax expense in the period the assets giving rise to such credits are placed in service, except for the Utilities' investment tax credits, which are deferred and amortized over the estimated useful lives of the properties to which the credits relate, in accordance with Accounting Standards Codification (ASC) Topic 980, “Regulated Operations.” The Utilities are included in the consolidated income tax returns of HEI. However, income tax expense has been computed for financial statement purposes as if the Utilities filed separate consolidated Hawaiian Electric income tax returns. Governmental tax authorities could challenge a tax return position taken by management. If the Company’s position does not prevail, the Company’s results of operations and financial condition may be adversely affected as the related deferred or current income tax asset might be impaired and written down or an unanticipated tax liability might be incurred. The Company and the Utilities use a “more-likely-than-not” recognition threshold and measurement standard for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.
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 asset retirement obligations (AROs).
Earnings per share	Earnings per share (HEI only). Basic earnings per share (EPS) is computed by dividing net income for common stock by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed similarly, except that dilutive common shares for stock compensation and the equity forward transactions are added to the denominator. HEI uses the two-class method of computing EPS as restricted stock grants include non-forfeitable rights to dividends and are participating securities.
Share-based compensation	Share-based compensation. The Company and the Utilities apply the fair value based method of accounting to account for its stock compensation, including the use of a forfeiture assumption.
Impairment of long-lived assets and long-lived assets to be disposed of	Impairment of long-lived assets and long-lived assets to be disposed of. The Company and the Utilities review long-lived assets and certain identifiable intangibles for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell.
Recent accounting pronouncements	Recent accounting pronouncements. Obligations resulting from joint and several liability . In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-04, “Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date,” which provides guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. The guidance requires entities to measure these obligations as the sum of the amount the entity has agreed with co-obligors to pay and any additional amount it expects to pay on behalf of its co-obligors. The guidance also requires an entity to disclose the nature and amount of the obligation as well as other information. The Company and the Utilities retrospectively adopted ASU No. 2013-04 in the first quarter of 2014 and it did not have a material impact on the Company’s or the Utilities' results of operations, financial condition or liquidity. Unrecognized tax benefits (UTBs) . In July 2013, the FASB issued ASU No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists,” which requires the netting of UTBs against a deferred tax asset for a loss or other tax carryforwards that would apply in settlement of the uncertain tax positions. UTBs should be netted against all available same-jurisdiction loss or other tax carryforwards that would be utilized, rather than only against carryforwards that are created by the UTBs. The Company and the Utilities prospectively adopted ASU No. 2013-11 in the first quarter of 2014 and it did not have a material impact on the Company’s or the Utilities' results of operations, financial condition or liquidity. 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. The amendments also require additional disclosures. The Company has not determined whether it will adopt ASU No. 2014-01 in the first quarter of 2015. 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 plans to prospectively adopt ASU No. 2014-04 in the first quarter of 2015 and does not expect the adoption to 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 2017, 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 plans to adopt ASU No. 2014-11 in the first quarter of 2015 and does not expect the adoption to have a material impact on the Company's results of operations, financial condition or liquidity.
Reclassifications and revisions	Reclassifications. Hawaiian Electric changed its consolidated statements of income for each quarter in 2013 from a utility presentation to a commercial company presentation, under which all operating revenues and expenses (including non-regulated revenues and expenses) are included in the determination of operating income. Additionally, income tax expense, which was previously included partially in operating expenses and partially in other income (deductions), is now entirely presented directly above net income in income taxes and includes income taxes related to non-regulated revenues and expenses. On HEI’s consolidated balance sheet as of December 31, 2013, non-utility plant, net, amounting to $7 million was reclassified from “Other” assets to “Plant and equipment” (including related amounts of accumulated depreciation). These and other reclassifications made to prior years’ financial statements to conform to the 2014 presentation did not affect previously reported results of operations.
Electric utility
Accounts receivable	Accounts receivable. Accounts receivable are recorded at the invoiced amount. The Utilities generally assess a late payment charge on balances unpaid from the previous month. The allowance for doubtful accounts is the Utilities’ best estimate of the amount of probable credit losses in the Utilities existing accounts receivable. On a monthly basis, the Utilities adjust their allowance, with a corresponding charge (credit) on the statement of income, based on its historical write-off experience. Account balances are charged off against the allowance after collection efforts have been exhausted and the potential for recovery is considered remote.
Contributions in aid of construction	Contributions in aid of construction. The Utilities receive contributions from customers for special construction requirements. As directed by the PUC, contributions are amortized on a straight-line basis over 30 to 55 years as an offset against depreciation expense.
Electric utility revenues	Electric utility revenues. Electric utility revenues are based on rates authorized by the PUC. Prior to the implementation of decoupling, revenues related to the sale of energy were generally recorded when service was rendered or energy was delivered to customers and included revenues applicable to energy consumed in the accounting period but not yet billed to the customers. The rate schedules of the Utilities include energy cost adjustment clauses (ECACs) under which electric rates are adjusted for changes in the weighted-average price paid for fuel oil and certain components of purchased power, and the relative amounts of company-generated power and purchased power. The rate schedules also include purchased power adjustment clauses (PPACs) under which the remaining purchase power expenses are recovered through surcharge mechanisms. The amounts collected through the ECACs and PPACs are required to be reconciled quarterly. Upon the implementation of decoupling (Hawaiian Electric on March 1, 2011, Hawaii Electric Light on April 9, 2012 and Maui Electric on May 4, 2012), the Utilities: (1) recognize monthly revenue balancing account (RBA) revenues or refunds for the difference between PUC-approved target revenues and recorded adjusted revenues, which delinks revenues from kilowatthour sales, (2) recognize a revenue escalation component via a rate adjustment mechanism (RAM) for certain operation and maintenance (O&M) expenses and rate base changes and (3) recognize (when applicable) an earnings sharing mechanism, which would provide for a reduction of revenues between rate cases in the event the utility’s ratemaking return on average common equity (ROACE) exceeds the ROACE allowed in its most recent rate case. The Utilities’ revenues include amounts for various Hawaii state revenue taxes. Revenue taxes are generally recorded as an expense in the year 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).
Power purchase agreements	Power purchase agreements. If a power purchase agreement (PPA) falls within the scope of ASC Topic 840, “Leases,” and results in the classification of the agreement as a capital lease, the Utilities would recognize a capital asset and a lease obligation. Currently, none of the PPAs are required to be recorded as a capital lease. The Utilities evaluate PPAs to determine if the PPAs are VIEs, if the Utilities are primary beneficiaries and if consolidation is required.
Repairs and maintenance costs	Repairs and maintenance costs. Repairs and maintenance costs for overhauls of generating units are generally expensed as they are incurred.
Allowance for funds used during construction (AFUDC)	Allowance for funds used during construction (AFUDC). AFUDC is an accounting practice whereby the costs of debt and equity funds used to finance plant construction are credited on the statement of income and charged to construction in progress on the balance sheet. If a project under construction is delayed for an extended period of time, AFUDC on the delayed project may be stopped after assessing the causes of the delay and probability of recovery.
Bank
Loans receivable	Loans receivable . ASB carries loans receivable at amortized cost less the allowance for loan losses, loan origination fees (net of direct loan origination costs), commitment fees and purchase premiums and discounts. Interest on loans is credited to income as it is earned. Discounts and premiums are accreted or amortized over the life of the loans using the interest method. Loan origination fees (net of direct loan origination costs) are deferred and recognized as an adjustment in yield over the life of the loan using the interest method or taken into income when the loan is paid off or sold. Nonrefundable commitment fees (net of direct loan origination costs, if applicable) received for commitments to originate or purchase loans are deferred and, if the commitment is exercised, recognized as an adjustment of yield over the life of the loan using the interest method. Nonrefundable commitment fees received for which the commitment expires unexercised are recognized as income upon expiration of the commitment.
Loans held for sale, gain on sale of loans, and mortgage servicing assets and liabilities	Mortgage loans held for sale are stated at the lower of cost or estimated fair value on an aggregate basis. A sale is recognized only when the consideration received is other than beneficial interests in the assets sold and control over the assets is transferred irrevocably to the buyer. Gains or losses on sales of loans are recognized at the time of sale and are determined by the difference between the net sales proceeds and the allocated basis of the loans sold.
Allowance for loan losses	Allowance for loan losses. ASB maintains an allowance for loan losses that it believes is adequate to absorb losses inherent in its loan portfolio. The level of allowance for loan losses is based on a continuing assessment of existing risks in the loan portfolio, historical loss experience, changes in collateral values and current conditions (e.g., economic conditions, real estate market conditions and interest rate environment). The allowance for loan losses is allocated to loan types using both a formula-based approach applied to groups of loans and an analysis of certain individual loans for impairment. The formula-based approach emphasizes loss factors primarily derived from actual historical default and loss rates, which are combined with an assessment of certain qualitative factors to determine the allowance amounts allocated to the various loan categories. Adverse changes in any of these factors could result in higher charge-offs and provision for loan losses. ASB disaggregates its portfolio loans into portfolio segments for purposes of determining the allowance for loan losses. Commercial and commercial real estate loans are defined as non-homogeneous loans and ASB utilizes a risk rating system for evaluating the credit quality of the loans. Loans are rated based on the degree of risk at origination and periodically thereafter, as appropriate. Values are applied separately to the probability of default (borrower risk) and loss given default (transaction risk). ASB’s credit review department performs an evaluation of these loan portfolios to ensure compliance with the internal risk rating system and timeliness of rating changes. Non-homogeneous loans are categorized into the regulatory asset quality classifications-Pass, Special Mention, Substandard, Doubtful, and Loss based on credit quality. For loans classified as substandard, an analysis is done to determine if the loan is impaired. A loan is deemed impaired when it is probable that ASB will be unable to collect all amounts due according to the contractual terms of the loan agreement. Once a loan is deemed impaired, ASB applies a valuation methodology to determine whether there is an impairment shortfall. The measurement of impairment may be based on (i) the present value of the expected future cash flows of the impaired loan discounted at the loan’s original effective interest rate, (ii) the observable market price of the impaired loan, or (iii) the fair value of the collateral, net of costs to sell. For all loans collateralized by real estate whose repayment is dependent on the sale of the underlying collateral property, ASB measures impairment by utilizing the fair value of the collateral, net of costs to sell; for other loans that are not considered collateral dependent, generally the discounted cash flow method is used to measure impairment. For loans collateralized by real estate that are classified as troubled debt restructured loans, the present value of the expected future cash flows of the loans may also be used to measure impairment as these loans are expected to perform according to their restructured terms. Impairments are charged to the provision for loan losses and included in the allowance for loan losses. However, confirmed losses (uncollectible) are charged off, with the loan written down by the amount of the confirmed loss. Residential, consumer and credit scored business loans are considered homogeneous loans, which are typically underwritten based on common, uniform standards, and are generally classified as to the level of loss exposure based on delinquency status. The homogeneous loan portfolios are stratified into individual products with common risk characteristics and segmented into various secured and unsecured loan product types. For the homogeneous portfolio, the quality of the loan is best indicated by the repayment performance of an individual borrower. ASB does supplement performance data with an 11-risk rating retail credit model that assigns a probability of default to each borrower based primarily on the borrower's current Fair Isaac Corporation (FICO) score and for the home equity line of credit (HELOC) and unsecured consumer products, the bankruptcy score (BK). Current FICO and BK data is purchased and appended to all homogeneous loans on a quarterly basis and used to estimate the borrower’s probability of default and the loss given default. ASB also considers the following qualitative factors for all loans in estimating the allowance for loan losses: • changes in lending policies and procedures; • changes in economic and business conditions and developments that affect the collectability of the portfolio; • changes in the nature, volume and terms of the loan portfolio; • changes in lending management and other relevant staff; • changes in loan quality (past due, non-accrual, classified loans); • changes in the quality of the loan review system; • changes in the value of underlying collateral; • effect of, and changes in the level of, any concentrations of credit; and • effect of other external and internal factors. ASB’s methodology for determining the allowance for loan losses was generally based on historic loss rates using various look-back periods. During the second quarter of 2014, ASB implemented enhancements to the loss rate calculation for estimating the allowance for loan losses that included several refinements to determining the probability of default and the loss given default for the various segments of the loan portfolio that are more statistically sound than those previously employed. The result is an estimated loss rate established for each borrower. ASB also updated its measurement of the loss emergence period in the calculation of the allowance for loan losses. The loss emergence period is broadly defined as the period that it takes, on average, for the lender to identify the specific borrower and amount of loss incurred by the bank for a loan that has suffered from a loss-causing event. In most cases, the loss emergence period was within a twelve month period; however, as credit quality and conditions improve, management has observed that the loss emergence period has extended and has incorporated this observed change in the estimate of the allowance for loan losses. Management believes these enhancements will improve the precision in estimating the allowance for loan losses. The enhancements did not have a material effect on the total allowance for loan losses or the provision for loan losses for 2014. The enhancements did result in the full allocation of the previously unallocated portion of the allowance for loan losses. In conjunction with the above enhancement, management also adopted an enhanced risk rating system for monitoring and managing credit risk in the non-homogenous loan portfolios, that measures general creditworthiness at the borrower level. The numerical-based, risk rating “PD Model” takes into consideration fiscal year-end financial information of the borrower and identified financial attributes including retained earnings, operating cash flows, interest coverage, liquidity and leverage that demonstrate a strong correlation with default to assign default probabilities at the borrower level. In addition, a loss given default (LGD) value is assigned to each loan to measure loss in the event of default based on loan specific features such as collateral that mitigates the amount of loss in the event of default. Together the PD Model and LGD construct provide a more quantitative, data driven and consistent framework for measuring risk within the portfolio, on a loan by loan basis and for the ultimate collectability of each loan. The reserve for unfunded commitments is maintained at a level believed by management to be sufficient to absorb estimated probable losses related to unfunded credit facilities and is included in accounts payable and other liabilities in the consolidated balance sheets. The determination of the adequacy of the reserve is based upon an evaluation of the unfunded credit facilities, including an assessment of historical commitment utilization experience, credit risk grading and historical loss rates. This process takes into consideration the same risk elements that are analyzed in the determination of the adequacy of the allowance for loan losses, as discussed above. Net adjustments to the reserve for unfunded commitments are included in other noninterest expense in the consolidated statements of income. Management believes its allowance for loan losses adequately estimates actual loan losses that will ultimately be incurred. However, such estimates are based on currently available information and historical experience, and future adjustments may be required from time to time to the allowance for loan losses based on new information and changes that occur (e.g., due to changes in economic conditions, particularly in Hawaii). Actual losses could differ from management’s estimates, and these differences and subsequent adjustments could be material.
Loans modified in a troubled debt restructuring	Loans modified in a troubled debt restructuring. Loans are considered to have been modified in a troubled debt restructuring (TDR) when, due to a borrower’s financial difficulties, ASB makes concessions to the borrower that it would not otherwise consider for a non-troubled borrower. Modifications may include interest rate reductions, interest only payments for an extended period of time, protracted terms such as amortization and maturity beyond the customary length of time found in the normal market place, and other actions intended to minimize economic loss and to provide alternatives to foreclosure or repossession of collateral. Generally, a nonaccrual loan that has been modified in a TDR remains on nonaccrual status until the borrower has demonstrated sustained repayment performance for a period of six consecutive months. However, performance prior to the modification, or significant events that coincide with the modification, are included in assessing whether the borrower can meet the new terms and may result in the loan being returned to accrual status at the time of loan modification or after a shorter performance period. If the borrower’s ability to meet the revised payment schedule is uncertain, or there is reasonable doubt over the full collectability of principal and interest, the loan remains on nonaccrual status.
Real estate acquired in settlement of loans	Real estate acquired in settlement of loans. ASB records real estate acquired in settlement of loans at fair value, less estimated selling expenses. ASB obtains appraisals based on recent comparable sales to assist management in estimating the fair value of real estate acquired in settlement of loans. Subsequent declines in value are charged to expense through a valuation allowance. Costs related to holding real estate are charged to operations as incurred.
Goodwill and other intangibles	Goodwill. At December 31, 2014 and 2013 , the amount of goodwill was $82.2 million . The goodwill is with respect to ASB and is the Company’s only intangible asset with an indefinite useful life and is tested for impairment annually at December 31 using data as of September 30. FASB ASU No. 2011-8, “Intangibles-Goodwill and Other (Topic 350): Testing Goodwill for Impairment”(ASU No. 2011-8) permits an entity to first assess qualitative factors (Step 0) to determine whether it is more likely than not (that is, a likelihood of more than 50%) that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform Step 1 of a two-step goodwill impairment test. An entity has an unconditional option to bypass the qualitative assessment and proceed directly to performing the first step of the goodwill impairment test. In evaluating whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount under ASU No. 2011-8, an entity shall assess relevant events and circumstances such as: • macroeconomic conditions such as a deterioration in general economic conditions, limitations on accessing capital, or other developments in equity and credit markets; • industry and market considerations such as a deterioration in the environment in which an entity operates, an increased competitive environment, a change in the market for an entity’s products or services, or a regulatory or political development; • cost factors that have a negative effect on earnings and cash flows; • overall financial performance such as a decline in actual or planned revenues or earnings compared with actual and projected results of relevant prior periods; • other relevant entity-specific events such as changes in management, key personnel, strategy, or customers; contemplation of bankruptcy; or litigation; • events affecting a reporting unit such as a change in the composition or carrying amount of its net assets; • if applicable, a sustained decrease in share price (consider in both absolute terms and relative to peers). If, after assessing the totality of events or circumstances, an entity determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then the first and second steps of the goodwill impairment test under ASC Topic 350, "Intangibles-Goodwill and Other" (ASC 350), are unnecessary. We performed a Step 0 analysis and determined that it was not more likely than not that the fair value of the Company was less than its carrying value and a Step 1 goodwill impairment analysis was not considered necessary. The most recent Step 1 goodwill impairment analysis under ASC 350 was performed at December 31, 2013 and the estimated fair value of the Company exceeded its carrying value by 60% . For the three years ended December 31, 2014, there has been no impairment of goodwill.
Mortgage banking	Mortgage banking. Mortgage loans held for sale are stated at the lower of cost or estimated fair value on an aggregate basis. A sale is recognized only when the consideration received is other than beneficial interests in the assets sold and control over the assets is transferred irrevocably to the buyer. Gains or losses on sales of loans are recognized at the time of sale and are determined by the difference between the net sales proceeds and the allocated basis of the loans sold. ASB is obligated to subsequently repurchase a loan if the purchaser discovers a standard representation or warranty violation such as noncompliance with eligibility requirements, customer fraud, or servicing violations. This primarily occurs during a loan file review. ASB recognizes a mortgage servicing asset when a mortgage loan is sold with servicing rights retained. This mortgage servicing right (MSR) is initially capitalized at its presumed 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 assets or liabilities are included as a component of gain on sale of loans. Under ASC Topic 860, “Transfers and Servicing,” we amortize the MSR in proportion to and over the period of estimated net servicing income and assess 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 fair value. Loan servicing fee income represents income earned for servicing mortgage loans owned by investors. It includes mortgage servicing fees and other ancillary servicing income, net of guaranty fees. Servicing fees are generally calculated on the outstanding principal balances of the loans serviced and are recorded as income when earned.

Summary of significant accoun32

Summary of significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The table below illustrates the effects of the revision or restatements on the previously filed financial statements: 2014 2013 As As previously As previously As (in thousands) filed revised Difference filed restated Difference Consolidated Statements of Cash Flows and Note 3 HEI consolidated Cash flows from operating activities Other amortization $ 8,476 $ 6,795 $ (1,681 ) N/A N/A N/A Increase in deferred income taxes 59,184 103,916 44,732 N/A N/A N/A Share-based compensation expense — 9,287 9,287 $ — $ 7,780 $ 7,780 Increase/(decrease) in accounts, interest and dividends payable (92,294 ) (67,189 ) 25,105 (23,153 ) 12,406 35,559 Change in prepaid and accrued income taxes and utility revenue taxes 12,845 (39,091 ) (51,936 ) N/A N/A N/A Change in other assets and liabilities (93,400 ) (94,966 ) (1,566 ) (2,779 ) (11,696 ) (8,917 ) Net cash provided by operating activities 301,479 325,420 23,941 327,146 361,568 34,422 Cash flows from investing activities Capital expenditures (339,721 ) (364,826 ) (25,105 ) (353,879 ) (389,438 ) (35,559 ) Cash flows from investing activities-Other (39 ) 1,125 1,164 40 1,177 1,137 Net cash used in investing activities (568,508 ) (592,449 ) (23,941 ) (563,760 ) (598,182 ) (34,422 ) Hawaiian Electric consolidated Cash flows from operating activities Other amortization 8,091 6,410 (1,681 ) N/A N/A N/A Increase/(decrease) in accounts payable (90,632 ) (65,527 ) 25,105 (20,828 ) 14,731 35,559 Change in other assets and liabilities (62,959 ) (62,442 ) 517 (31,499 ) (32,636 ) (1,137 ) Net cash provided by operating activities 283,054 306,995 23,941 292,443 326,865 34,422 Cash flows from investing activities Capital expenditures (311,574 ) (336,679 ) (25,105 ) (342,485 ) (378,044 ) (35,559 ) Cash flows from investing activities-Other — 1,164 1,164 (230 ) 907 1,137 Net cash used in investing activities (269,768 ) (293,709 ) (23,941 ) (310,555 ) (344,977 ) (34,422 ) Note 12 HEI consolidated Federal current taxes 33,762 (10,970 ) (44,732 ) N/A N/A N/A Federal deferred taxes 46,427 91,159 44,732 N/A N/A N/A Note 13 HEI consolidated Property, plant and equipment - unpaid invoices and accruals (in millions) 68 43 (25 ) 24 (12 ) (36 ) Hawaiian Electric consolidated Electric utility property, plant and equipment - unpaid invoices and accruals (in millions) 65 40 (25 ) 24 (12 ) (36 ) N/A - Not applicable. 2012 As previously As (in thousands) filed restated Difference Consolidated Statements of Cash Flows and Note 3 HEI consolidated Cash flows from operating activities Share-based compensation expense $ — $ 6,698 $ 6,698 Increase/(decrease) in accounts, interest and dividends payable (39,738 ) 5,497 45,235 Change in other assets and liabilities (94,734 ) (102,275 ) (7,541 ) Net cash provided by operating activities 234,542 278,934 44,392 Cash flows from investing activities Capital expenditures (325,480 ) (370,715 ) (45,235 ) Cash flows from investing activities-Other 935 1,778 843 Net cash used in investing activities (427,047 ) (471,439 ) (44,392 ) Hawaiian Electric consolidated Cash flows from operating activities Increase/(decrease) in accounts payable (38,913 ) 6,322 45,235 Change in other assets and liabilities (73,419 ) (74,262 ) (843 ) Net cash provided by operating activities 177,231 221,623 44,392 Cash flows from investing activities Capital expenditures (310,091 ) (355,326 ) (45,235 ) Cash flows from investing activities-Other — 843 843 Net cash used in investing activities (264,109 ) (308,501 ) (44,392 ) Note 13 HEI consolidated Property, plant and equipment - unpaid invoices and accruals (in millions) 37 (8 ) (45 ) Hawaiian Electric consolidated Electric utility property, plant and equipment - unpaid invoices and accruals (in millions) 37 (8 ) (45 )
Schedule of earnings per share basic and diluted under two-class method	Under the two-class method, HEI's EPS was comprised as follows for both participating securities and unrestricted common stock: 2014 2013 2012 Basic Diluted Basic Diluted Basic Diluted Distributed earnings $ 1.24 $ 1.24 $ 1.24 $ 1.24 $ 1.24 $ 1.24 Undistributed earnings 0.41 0.40 0.39 0.38 0.19 0.18 $ 1.65 $ 1.64 $ 1.63 $ 1.62 $ 1.43 $ 1.42

Segment financial information (

Segment financial information (Tables)	12 Months Ended
	Dec. 31, 2014
Segment Reporting [Abstract]
Schedule of segment financial information	Segment financial information was as follows: (in thousands) Electric utility Bank Other Total 2014 Revenues from external customers $ 2,987,299 $ 252,497 $ (254 ) $ 3,239,542 Intersegment revenues (eliminations) 24 — (24 ) — Revenues 2,987,323 252,497 (278 ) 3,239,542 Depreciation and amortization, as revised (1) 172,797 5,399 1,361 179,557 Interest expense, net 64,757 10,808 11,595 87,160 Income (loss) before income taxes 220,361 75,619 (34,058 ) 261,922 Income taxes (benefit) 80,725 24,127 (13,140 ) 91,712 Net income (loss) 139,636 51,492 (20,918 ) 170,210 Preferred stock dividends of subsidiaries 1,995 — (105 ) 1,890 Net income (loss) for common stock 137,641 51,492 (20,813 ) 168,320 Capital expenditures, as revised (1) 336,679 28,073 74 364,826 Assets (at December 31, 2014) 5,590,457 5,565,241 28,463 11,184,161 2013 Revenues from external customers $ 2,980,139 $ 258,147 $ 184 $ 3,238,470 Intersegment revenues (eliminations) 33 — (33 ) — Revenues 2,980,172 258,147 151 3,238,470 Depreciation and amortization 159,102 4,230 1,396 164,728 Interest expense, net 59,279 10,077 16,200 85,556 Income (loss) before income taxes 194,041 87,059 (33,353 ) 247,747 Income taxes (benefit) 69,117 29,525 (14,301 ) 84,341 Net income (loss) 124,924 57,534 (19,052 ) 163,406 Preferred stock dividends of subsidiaries 1,995 — (105 ) 1,890 Net income (loss) for common stock 122,929 57,534 (18,947 ) 161,516 Capital expenditures, as restated (1) 378,044 11,193 201 389,438 Assets (at December 31, 2013) 5,087,129 5,243,824 9,091 10,340,044 2012 Revenues from external customers $ 3,109,353 $ 265,539 $ 103 $ 3,374,995 Intersegment revenues (eliminations) 86 — (86 ) — Revenues 3,109,439 265,539 17 3,374,995 Depreciation and amortization 151,496 5,334 1,517 158,347 Interest expense, net 62,055 11,292 16,096 89,443 Income (loss) before income taxes 162,319 89,021 (33,933 ) 217,407 Income taxes (benefit) 61,048 30,384 (14,573 ) 76,859 Net income (loss) 101,271 58,637 (19,360 ) 140,548 Preferred stock dividends of subsidiaries 1,995 — (105 ) 1,890 Net income (loss) for common stock 99,276 58,637 (19,255 ) 138,658 Capital expenditures, as restated (1) 355,326 14,979 410 370,715 Assets (at December 31, 2012) 5,108,793 5,041,673 (1,334 ) 10,149,132 (1) As revised or restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Electric utility segment (Table

Electric utility segment (Tables)	12 Months Ended
	Dec. 31, 2014
Electric utility subsidiary
Schedule of voluntary liquidation and redemption prices of cumulative preferred stock	The following series of cumulative preferred stock are redeemable only at the option of the respective company at the following prices in the event of voluntary liquidation or redemption: December 31, 2014 Voluntary liquidation price Redemption price Series C, D, E, H, J and K (Hawaiian Electric) $ 20 $ 21 I (Hawaiian Electric) 20 20 G (Hawaii Electric Light) 100 100 H (Maui Electric) 100 100
Schedule of reductions from interim decision and order	Reductions from the interim D&O related primarily to: (in millions) Lower ROACE $ 4.0 Customer Information System expenses 0.3 Pension and OPEB expense based on 3-year average 1.5 Integrated resource planning expenses 0.9 Operational and Renewable Energy Integration study costs 1.1 Total adjustment $ 7.8
Schedule of consolidating statements of income	Statements of Income Data Years ended December 31 2014 2013 2012 (in thousands) Interest and dividend income Interest and fees on loans $ 179,341 $ 172,969 $ 176,057 Interest and dividends on investment securities 11,945 13,095 13,822 Total interest and dividend income 191,286 186,064 189,879 Interest expense Interest on deposit liabilities 5,077 5,092 6,423 Interest on other borrowings 5,731 4,985 4,869 Total interest expense 10,808 10,077 11,292 Net interest income 180,478 175,987 178,587 Provision for loan losses 6,126 1,507 12,883 Net interest income after provision for loan losses 174,352 174,480 165,704 Noninterest income Fees from other financial services 21,747 27,099 31,361 Fee income on deposit liabilities 19,249 18,363 17,775 Fee income on other financial products 8,131 8,405 6,577 Bank-owned life insurance 3,949 3,928 3,981 Mortgage banking income 2,913 8,309 14,628 Gains on sale of investment securities 2,847 1,226 134 Other income, net 2,375 4,753 1,204 Total noninterest income 61,211 72,083 75,660 Noninterest expense Compensation and employee benefits 79,885 82,910 75,979 Occupancy 17,197 16,747 17,179 Data processing 11,690 10,952 10,098 Services 10,269 9,015 9,866 Equipment 6,564 7,295 7,105 Office supplies, printing and postage 6,089 4,233 3,870 Marketing 3,999 3,373 3,260 FDIC insurance 3,261 3,253 3,307 Other expense 20,990 21,726 21,679 Total noninterest expense 159,944 159,504 152,343 Income before income taxes 75,619 87,059 89,021 Income taxes 24,127 29,525 30,384 Net income $ 51,492 $ 57,534 $ 58,637
Schedule of consolidating balance sheets	Balance Sheets Data December 31 2014 2013 (in thousands) Assets Cash and due from banks $ 107,233 $ 108,998 Interest-bearing deposits 54,230 47,605 Available-for-sale investment securities, at fair value 550,394 529,007 Stock in Federal Home Loan Bank of Seattle, at cost 69,302 92,546 Loans receivable held for investment 4,434,651 4,150,229 Allowance for loan losses (45,618 ) (40,116 ) Net loans 4,389,033 4,110,113 Loans held for sale, at lower of cost or fair value 8,424 5,302 Other 304,435 268,063 Goodwill 82,190 82,190 Total assets $ 5,565,241 $ 5,243,824 Liabilities and shareholder’s equity Deposit liabilities–noninterest-bearing $ 1,342,794 $ 1,214,418 Deposit liabilities–interest-bearing 3,280,621 3,158,059 Other borrowings 290,656 244,514 Other 116,527 105,679 Total liabilities 5,030,598 4,722,670 Commitments and contingencies (see “Litigation” below) Common stock 1 1 Additional paid in capital 338,411 336,053 Retained earnings 212,789 197,297 Accumulated other comprehensive loss, net of tax benefits Net unrealized gains (losses) on securities $ 462 $ (3,663 ) Retirement benefit plans (17,020 ) (16,558 ) (8,534 ) (12,197 ) Total shareholder’s equity 534,643 521,154 Total liabilities and shareholder’s equity $ 5,565,241 $ 5,243,824 December 31 2014 2013 (in thousands) Other assets Bank-owned life insurance $ 134,115 $ 129,963 Premises and equipment, net 92,407 67,766 Prepaid expenses 3,196 3,616 Accrued interest receivable 13,632 13,133 Mortgage-servicing rights 11,540 11,687 Low-income housing equity investments 32,457 14,543 Real estate acquired in settlement of loans, net 891 1,205 Other 16,197 26,150 $ 304,435 $ 268,063 Other liabilities Accrued expenses $ 37,880 $ 19,989 Federal and state income taxes payable 26,806 37,807 Cashier’s checks 20,509 21,110 Advance payments by borrowers 9,652 9,647 Other 21,680 17,126 $ 116,527 $ 105,679
Hawaiian Electric Company, Inc. and Subsidiaries
Electric utility subsidiary
Schedule of regulatory assets	Regulatory assets were as follows: December 31 2014 2013 (in thousands) Retirement benefit plans (balance primarily varies with plans’ funded statuses) $ 683,243 $ 350,821 Income taxes, net (1 to 55 years) 86,836 85,430 Decoupling revenue balancing account (1 to 2 years) 80,183 90,386 Unamortized expense and premiums on retired debt and equity issuances (19 to 30 years; 6 to 18 years remaining) 15,569 17,342 Vacation earned, but not yet taken (1 year) 10,248 9,149 Postretirement benefits other than pensions (18 years; less than 1 year remaining) 18 62 Other (1 to 50 years; 1 to 46 years remaining) 29,167 22,734 $ 905,264 $ 575,924 Included in: Current assets $ 71,421 $ 69,738 Long-term assets 833,843 506,186 $ 905,264 $ 575,924
Schedule of regulatory liabilities	Regulatory liabilities were as follows: December 31 2014 2013 (in thousands) Cost of removal in excess of salvage value (1 to 60 years) $ 331,000 $ 315,164 Retirement benefit plans (5 years beginning with respective utility’s next rate case) 12,413 31,546 Other (5 years; 1 to 2 years remaining) 1,436 2,589 $ 344,849 $ 349,299 Included in: Current liabilities $ 632 $ 1,916 Long-term liabilities 344,217 347,383 $ 344,849 $ 349,299
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: (in thousands) 2014 2013 Balance, January 1 $ 43,106 $ 48,431 Accretion expense 890 1,263 Liabilities incurred — — Liabilities settled (14,577 ) (5,672 ) Revisions in estimated cash flows — (916 ) Balance, December 31 $ 29,419 $ 43,106
Schedule of consolidating statements of income	Consolidating statement of income Year ended December 31, 2013 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 2,124,174 431,517 424,603 — (122 ) [1] $ 2,980,172 Expenses Fuel oil 851,365 125,516 208,671 — — 1,185,552 Purchased power 527,839 128,368 54,474 — — 710,681 Other operation and maintenance 283,768 61,418 58,081 3 — 403,270 Depreciation 99,738 34,188 20,099 — — 154,025 Taxes, other than income taxes 200,962 40,092 40,077 — — 281,131 Impairment of utility assets — — — — — — Total expenses 1,963,672 389,582 381,402 3 — 2,734,659 Operating income (loss) 160,502 41,935 43,201 (3 ) (122 ) 245,513 Allowance for equity funds used during construction 4,495 643 423 — — 5,561 Equity in earnings of subsidiaries 41,410 — — — (41,410 ) [2] — Interest expense and other charges, net (39,107 ) (11,341 ) (8,953 ) 122 [1] (59,279 ) Allowance for borrowed funds used during construction 1,814 263 169 — — 2,246 Income (loss) before income taxes 169,114 31,500 34,840 (3 ) (41,410 ) 194,041 Income taxes 45,105 10,830 13,182 — — 69,117 Net income (loss) 124,009 20,670 21,658 (3 ) (41,410 ) 124,924 Preferred stock dividends of subsidiaries — 534 381 — — 915 Net income (loss) attributable to Hawaiian Electric 124,009 20,136 21,277 (3 ) (41,410 ) 124,009 Preferred stock dividends of Hawaiian Electric 1,080 — — — — 1,080 Net income (loss) for common stock $ 122,929 20,136 21,277 (3 ) (41,410 ) $ 122,929 Consolidating statement of income Year ended December 31, 2014 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 2,142,245 422,200 422,965 — (87 ) [1] $ 2,987,323 Expenses Fuel oil 821,246 117,215 193,224 — — 1,131,685 Purchased power 537,821 123,226 60,961 — — 722,008 Other operation and maintenance 283,532 65,471 61,609 — — 410,612 Depreciation 109,204 35,904 21,279 — — 166,387 Taxes, other than income taxes 201,426 39,521 39,916 — — 280,863 Total expenses 1,953,229 381,337 376,989 — — 2,711,555 Operating income 189,016 40,863 45,976 — (87 ) 275,768 Allowance for equity funds used during construction 6,085 472 214 — — 6,771 Equity in earnings of subsidiaries 40,964 — — — (40,964 ) [2] — Interest expense and other charges, net (44,041 ) (11,030 ) (9,773 ) — 87 [1] (64,757 ) Allowance for borrowed funds used during construction 2,306 182 91 — — 2,579 Income before income taxes 194,330 30,487 36,508 — (40,964 ) 220,361 Income taxes 55,609 11,264 13,852 — — 80,725 Net income 138,721 19,223 22,656 — (40,964 ) 139,636 Preferred stock dividends of subsidiaries — 534 381 — — 915 Net income attributable to Hawaiian Electric 138,721 18,689 22,275 — (40,964 ) 138,721 Preferred stock dividends of Hawaiian Electric 1,080 — — — — 1,080 Net income for common stock $ 137,641 18,689 22,275 — (40,964 ) $ 137,641 Consolidating statement of income Year ended December 31, 2012 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 2,228,233 441,013 440,270 — (77 ) [1] $ 3,109,439 Expenses Fuel oil 945,246 116,866 235,307 — — 1,297,419 Purchased power 540,802 145,386 38,052 — — 724,240 Other operation and maintenance 266,208 60,447 70,771 3 — 397,429 Depreciation 90,783 33,337 20,378 — — 144,498 Taxes, other than income taxes 209,943 41,370 41,528 — — 292,841 Impairment of utility assets 29,000 5,500 5,500 — — 40,000 Total expenses 2,081,982 402,906 411,536 3 — 2,896,427 Operating income (loss) 146,251 38,107 28,734 (3 ) (77 ) 213,012 Allowance for equity funds used during construction 5,735 585 687 — — 7,007 Equity in earnings of subsidiaries 28,836 — — — (28,836 ) [2] — Interest expense and other charges, net (40,842 ) (12,066 ) (9,224 ) — 77 [1] (62,055 ) Allowance for borrowed funds used during construction 3,642 235 478 — — 4,355 Income (loss) before income taxes 143,622 26,861 20,675 (3 ) (28,836 ) 162,319 Income taxes 43,266 10,115 7,667 — — 61,048 Net income (loss) 100,356 16,746 13,008 (3 ) (28,836 ) 101,271 Preferred stock dividends of subsidiaries — 534 381 — — 915 Net income (loss) attributable to Hawaiian Electric 100,356 16,212 12,627 (3 ) (28,836 ) 100,356 Preferred stock dividends of Hawaiian Electric 1,080 — — — — 1,080 Net income (loss) for common stock $ 99,276 16,212 12,627 (3 ) (28,836 ) $ 99,276
Schedule of consolidating statements of comprehensive income	Consolidating statement of comprehensive income (loss) Year ended December 31, 2012 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income (loss) for common stock $ 99,276 16,212 12,627 (3 ) (28,836 ) $ 99,276 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Net losses arising during the period, net of tax benefits (90,082 ) (13,577 ) (10,935 ) — 24,512 [1] (90,082 ) Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 13,673 2,101 1,771 — (3,872 ) [1] 13,673 Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of tax benefits 75,471 11,442 9,093 — (20,535 ) [1] 75,471 Other comprehensive loss, net of tax benefits (938 ) (34 ) (71 ) — 105 (938 ) Comprehensive income (loss) attributable to common shareholder $ 98,338 16,178 12,556 (3 ) (28,731 ) $ 98,338 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income (loss) for common stock $ 122,929 20,136 21,277 (3 ) (41,410 ) $ 122,929 Other comprehensive income, net of taxes: Retirement benefit plans: Net gains arising during the period, net of taxes 203,479 30,542 27,820 — (58,362 ) [1] 203,479 Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 20,694 2,880 2,557 — (5,437 ) [1] 20,694 Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of tax benefits (222,595 ) (33,277 ) (30,254 ) — 63,531 [1] (222,595 ) Other comprehensive income, net of tax benefits 1,578 145 123 — (268 ) 1,578 Comprehensive income (loss) attributable to common shareholder $ 124,507 20,281 21,400 (3 ) (41,678 ) $ 124,507 Consolidating statement of comprehensive income Year ended December 31, 2014 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 137,641 18,689 22,275 — (40,964 ) $ 137,641 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Net losses arising during the period, net of tax benefits (218,608 ) (28,725 ) (29,352 ) — 58,077 [1] (218,608 ) Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 10,212 1,270 1,090 — (2,360 ) [1] 10,212 Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes 207,833 27,437 28,257 — (55,694 ) [1] 207,833 Other comprehensive loss, net of tax benefits (563 ) (18 ) (5 ) — 23 (563 ) Comprehensive income attributable to common shareholder $ 137,078 18,671 22,270 — (40,941 ) $ 137,078
Schedule of consolidating balance sheets	Consolidating balance sheet December 31, 2014 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating 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 ) [2] 0 Current assets Cash and equivalents 12,416 612 633 101 — 13,762 Advances to affiliates 16,100 — — — (16,100 ) [1] — 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 ) [1] 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 ) [3] 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 ) [1] 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 ) [2] $ 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 Current portion of long-term debt — — — — — — Short-term borrowings-affiliate — 10,500 5,600 — (16,100 ) [1] — Accounts payable 122,433 23,728 17,773 — — 163,934 Interest and preferred dividends payable 15,407 3,989 2,931 — (11 ) [1] 22,316 Taxes accrued 176,339 37,548 36,807 — (292 ) [3] 250,402 Regulatory liabilities 191 — 441 — — 632 Other 48,282 9,866 16,094 — (9,096 ) [1] 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 ) [1] 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 December 31, 2013 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 43,407 5,460 3,016 — — $ 51,883 Plant and equipment 3,558,569 1,136,923 1,006,383 — — 5,701,875 Less accumulated depreciation (1,222,129 ) (453,721 ) (435,379 ) — — (2,111,229 ) Construction in progress 124,494 7,709 11,030 — — 143,233 Utility property, plant and equipment, net 2,504,341 696,371 585,050 — — 3,785,762 Nonutility property, plant and equipment, less accumulated depreciation 4,953 82 1,532 — — 6,567 Total property, plant and equipment, net 2,509,294 696,453 586,582 — — 3,792,329 Investment in wholly-owned subsidiaries, at equity 523,674 — — — (523,674 ) [2] — Current assets Cash and equivalents 61,245 1,326 153 101 — 62,825 Advances to affiliates 6,839 1,000 — — (7,839 ) [1] — Customer accounts receivable, net 121,282 28,088 26,078 — — 175,448 Accrued unbilled revenues, net 107,752 17,100 19,272 — — 144,124 Other accounts receivable, net 16,373 4,265 2,451 — (9,027 ) [1] 14,062 Fuel oil stock, at average cost 99,613 14,178 20,296 — — 134,087 Materials and supplies, at average cost 37,377 6,883 14,784 — — 59,044 Prepayments and other 29,798 8,334 16,140 — (1,415 ) [3] 52,857 Regulatory assets 54,979 6,931 7,828 — — 69,738 Total current assets 535,258 88,105 107,002 101 (18,281 ) 712,185 Other long-term assets Regulatory assets 381,346 64,552 60,288 — — 506,186 Unamortized debt expense 6,051 1,580 1,372 — — 9,003 Other 42,163 11,270 13,993 — — 67,426 Total other long-term assets 429,560 77,402 75,653 — — 582,615 Total assets $ 3,997,786 861,960 769,237 101 (541,955 ) $ 5,087,129 Capitalization and liabilities Capitalization Common stock equity $ 1,593,564 274,802 248,771 101 (523,674 ) [2] $ 1,593,564 Cumulative preferred stock–not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 830,547 189,998 186,000 — — 1,206,545 Total capitalization 2,446,404 471,800 439,771 101 (523,674 ) 2,834,402 Current liabilities Current portion of long-term debt — 11,400 — — — 11,400 Short-term borrowings-affiliate 1,000 — 6,839 — (7,839 ) [1] — Accounts payable 145,062 24,383 20,114 — — 189,559 Interest and preferred dividends payable 15,190 3,885 2,585 — (8 ) [1] 21,652 Taxes accrued 175,790 37,899 37,171 — (1,415 ) [3] 249,445 Regulatory liabilities 1,705 — 211 — — 1,916 Other 48,443 9,033 15,424 — (9,019 ) [1] 63,881 Total current liabilities 387,190 86,600 82,344 — (18,281 ) 537,853 Deferred credits and other liabilities Deferred income taxes 359,621 79,947 67,593 — — 507,161 Regulatory liabilities 235,786 76,475 35,122 — — 347,383 Unamortized tax credits 44,931 14,245 14,363 — — 73,539 Defined benefit pension and other postretirement benefit plans liability 202,396 28,427 31,339 — — 262,162 Other 63,374 14,703 13,658 — — 91,735 Total deferred credits and other liabilities 906,108 213,797 162,075 — — 1,281,980 Contributions in aid of construction 258,084 89,763 85,047 — — 432,894 Total capitalization and liabilities $ 3,997,786 861,960 769,237 101 (541,955 ) $ 5,087,129
Schedule of consolidating statements of changes in common stock equity	Consolidating statements of changes in common stock equity (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Balance, December 31, 2011 $ 1,402,841 280,468 235,568 107 (516,143 ) $ 1,402,841 Net income (loss) for common stock 99,276 16,212 12,627 (3 ) (28,836 ) 99,276 Other comprehensive loss, net of tax benefits (938 ) (34 ) (71 ) — 105 (938 ) Issuance of common stock, net of expenses 44,001 — — — — 44,001 Common stock dividends (73,044 ) (27,738 ) (19,197 ) — 46,935 (73,044 ) Balance, December 31, 2012 $ 1,472,136 268,908 228,927 104 (497,939 ) $ 1,472,136 Net income (loss) for common stock 122,929 20,136 21,277 (3 ) (41,410 ) 122,929 Other comprehensive income, net of taxes 1,578 145 123 — (268 ) 1,578 Issuance of common stock, net of expenses 78,499 — 12,461 — (12,461 ) 78,499 Common stock dividends (81,578 ) (14,387 ) (14,017 ) — 28,404 (81,578 ) Balance, December 31, 2013 $ 1,593,564 274,802 248,771 101 (523,674 ) $ 1,593,564 Net income for common stock 137,641 18,689 22,275 — (40,964 ) 137,641 Other comprehensive loss, net of tax benefits (563 ) (18 ) (5 ) — 23 (563 ) Issuance of common stock, net of expenses 39,994 — — — — 39,994 Common stock dividends (88,492 ) (11,627 ) (14,349 ) — 25,976 (88,492 ) Balance, December 31, 2014 $ 1,682,144 281,846 256,692 101 (538,639 ) $ 1,682,144
Schedule of consolidating statements of cash flows	Consolidating statement of cash flows Year ended December 31, 2014 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Cash flows from operating activities Net income $ 138,721 19,223 22,656 — (40,964 ) [2] $ 139,636 Adjustments to reconcile net income to net cash provided by operating activities Equity in earnings (41,064 ) — — — 40,964 [2] (100 ) Common stock dividends received from subsidiaries 26,076 — — — (25,976 ) [2] 100 Depreciation of property, plant and equipment 109,204 35,904 21,279 — — 166,387 Other amortization (1) 1,749 2,596 2,065 — — 6,410 Increase in deferred income taxes 56,901 12,083 13,963 — — 82,947 Change in tax credits, net 4,998 680 384 — — 6,062 Allowance for equity funds used during construction (6,085 ) (472 ) (214 ) — — (6,771 ) Change in cash overdraft — — (1,038 ) — — (1,038 ) Changes in assets and liabilities: Decrease in accounts receivable 16,213 7,150 3,483 — (103 ) [1] 26,743 Decrease in accrued unbilled revenues 4,680 1,174 896 — — 6,750 Decrease in fuel oil stock 25,098 378 2,565 — — 28,041 Decrease (increase) in materials and supplies 4,223 219 (2,648 ) — — 1,794 Increase in regulatory assets (14,620 ) (3,357 ) 977 — — (17,000 ) Decrease in accounts payable (2) (56,044 ) (6,645 ) (2,838 ) — — (65,527 ) Change in prepaid and accrued income taxes and revenue taxes (4,166 ) (3,251 ) 3,381 — — (4,036 ) Decrease in defined benefit pension and other postretirement benefit plans liability (562 ) — (399 ) — — (961 ) Change in other assets and liabilities (3) (46,636 ) (12,577 ) (3,332 ) — 103 [1] (62,442 ) Net cash provided by operating activities 218,686 53,105 61,180 — (25,976 ) 306,995 Cash flows from investing activities Capital expenditures (4) (237,970 ) (49,895 ) (48,814 ) — — (336,679 ) Contributions in aid of construction 30,021 7,695 4,090 — — 41,806 Advances from affiliates (9,261 ) 1,000 — — 8,261 [1] — Other (5) 604 492 68 — — 1,164 Investment in consolidated subsidiary — — — — — — Net cash used in investing activities (216,606 ) (40,708 ) (44,656 ) — 8,261 (293,709 ) Cash flows from financing activities Common stock dividends (88,492 ) (11,627 ) (14,349 ) — 25,976 [2] (88,492 ) Preferred stock dividends of Hawaiian Electric and subsidiaries (1,080 ) (534 ) (381 ) — — (1,995 ) Proceeds from issuance of common stock 40,000 — — — — 40,000 Proceeds from issuance of long-term debt — — — — — — Repayment of long-term debt — (11,400 ) — — — (11,400 ) Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less (1,000 ) 10,500 (1,239 ) — (8,261 ) [2] — Other (337 ) (50 ) (75 ) — — (462 ) Net cash used in financing activities (50,909 ) (13,111 ) (16,044 ) — 17,715 (62,349 ) Net increase (decrease) in cash and cash equivalents (48,829 ) (714 ) 480 — — (49,063 ) Cash and cash equivalents, January 1 61,245 1,326 153 101 — 62,825 Cash and cash equivalents, December 31 $ 12,416 612 633 101 — $ 13,762 (1) Prior to revision, other amortization for Maui Electric and Hawaiian Electric Consolidated were $3,746 and $8,091 , respectively. (2) Prior to revision, decrease in accounts payable for Hawaiian Electric, Hawaii Electric Light, Maui Electric and Hawaiian Electric Consolidated, were $(74,276) , $(8,490) , $(7,866) and $(90,632) , respectively. (3) Prior to revision, changes in other assets and liabilities for Hawaiian Electric, Hawaii Electric Light, Maui Electric, Consolidating adjustments and Hawaiian Electric Consolidated were $(46,032) , $(12,085) , $(4,945) , $103 and $(62,959) , respectively. (4) Prior to revision, capital expenditures for Hawaiian Electric, Hawaii Electric Light, Maui Electric and Hawaiian Electric Consolidated, were $(219,738) , $(48,050) , $(43,786) and $(311,574) , respectively. (5) Prior to revision, cash flows from investing activities-other for Hawaiian Electric, Hawaii Electric Light, Maui Electric and Hawaiian Electric Consolidated, were nil . Consolidating statement of cash flows Year ended December 31, 2013 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric As restated As restated As restated As restated Cash flows from operating activities Net income (loss) $ 124,009 20,670 21,658 (3 ) (41,410 ) [2] $ 124,924 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities Equity in earnings (41,510 ) — — — 41,410 [2] (100 ) Common stock dividends received from subsidiaries 28,505 — — — (28,405 ) [2] 100 Depreciation of property, plant and equipment 99,738 34,188 20,099 — — 154,025 Other amortization 554 1,979 2,544 — — 5,077 Increase in deferred income taxes 41,409 10,569 12,529 — — 64,507 Change in tax credits, net 5,152 818 1,047 — — 7,017 Allowance for equity funds used during construction (4,495 ) (643 ) (423 ) — — (5,561 ) Change in cash overdraft — — 1,038 — — 1,038 Changes in assets and liabilities: Decrease (increase) in accounts receivable 49,974 (1,459 ) 1,178 — (248 ) [1] 49,445 Decrease (increase) in accrued unbilled revenues (7,152 ) (2,707 ) 33 — — (9,826 ) Decrease in fuel oil stock 23,563 1,307 2,462 — — 27,332 Increase in materials and supplies (5,598 ) (1,547 ) (814 ) — — (7,959 ) Increase in regulatory assets (46,047 ) (9,237 ) (10,177 ) — — (65,461 ) Increase (decrease) in accounts payable (1) 18,527 1,525 (5,321 ) — — 14,731 Change in prepaid and accrued income taxes and revenue taxes 4,632 (4,114 ) (2,546 ) — — (2,028 ) Increase (decrease) in defined benefit pension and other postretirement benefit plans liability 2,325 (1 ) (84 ) — — 2,240 Change in other assets and liabilities (2) (18,618 ) (6,513 ) (7,753 ) — 248 [1] (32,636 ) Net cash provided by (used in) operating activities 274,968 44,835 35,470 (3 ) (28,405 ) 326,865 Cash flows from investing activities Capital expenditures (3) (262,562 ) (58,416 ) (57,066 ) — — (378,044 ) Contributions in aid of construction 21,686 7,590 2,884 — — 32,160 Advances from affiliates 2,561 17,050 — — (19,611 ) [1] — Other (4) 677 21 209 — — 907 Investment in consolidated subsidiary (12,461 ) — — — 12,461 [2] — Net cash used in investing activities (250,099 ) (33,755 ) (53,973 ) — (7,150 ) (344,977 ) Cash flows from financing activities Common stock dividends (81,578 ) (14,388 ) (14,017 ) — 28,405 [2] (81,578 ) Preferred stock dividends of Hawaiian Electric and subsidiaries (1,080 ) (534 ) (381 ) — — (1,995 ) Proceeds from the issuance of common stock 78,500 — 12,461 — (12,461 ) [2] 78,500 Proceeds from the issuance of long-term debt 140,000 56,000 40,000 — — 236,000 Repayment of long-term debt (90,000 ) (56,000 ) (20,000 ) — — (166,000 ) Net decrease in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less (17,050 ) — (2,561 ) — 19,611 [1] — Other (681 ) (273 ) (195 ) — — (1,149 ) Net cash provided by (used in) financing activities 28,111 (15,195 ) 15,307 — 35,555 63,778 Net increase (decrease) in cash and cash equivalents 52,980 (4,115 ) (3,196 ) (3 ) — 45,666 Cash and cash equivalents, January 1 8,265 5,441 3,349 104 — 17,159 Cash and cash equivalents, December 31 $ 61,245 1,326 153 101 — $ 62,825 (1) Prior to restatement, decrease in accounts payable for Hawaiian Electric, Hawaii Electric Light, Maui Electric and Hawaiian Electric Consolidated, were $(6,136) , $(4,756) , $(9,936) and $(20,828) , respectively. (2) Prior to restatement,changes in other assets and liabilities for Hawaiian Electric, Hawaii Electric Light, Maui Electric, Consolidating adjustments and Hawaiian Electric Consolidated were $(17,941) , $(6,262) , $(7,544) , $248 and $(31,499) , respectively. (3) Prior to restatement, capital expenditures for Hawaiian Electric, Hawaii Electric Light, Maui Electric and Hawaiian Electric Consolidated, were $(237,899) , $(52,135) , $(52,451) and $(342,485) , respectively. (4) Prior to restatement, cash flows from investing activities-other for Hawaiian Electric, Hawaii Electric Light, Maui Electric and Hawaiian Electric Consolidated, were nil , $(230) , nil and $(230) , respectively. Consolidating statement of cash flows Year ended December 31, 2012 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric As restated As restated As restated As restated Cash flows from operating activities Net income (loss) $ 100,356 16,746 13,008 (3 ) (28,836 ) [2] $ 101,271 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities Equity in earnings (28,936 ) — — — 28,836 [2] (100 ) Common stock dividends received from subsidiaries 47,035 — — — (46,935 ) [2] 100 Depreciation of property, plant and equipment 90,783 33,337 20,378 — — 144,498 Other amortization 1,508 3,252 2,238 — — 6,998 Impairment of utility assets 29,000 5,500 5,500 — — 40,000 Increase in deferred income taxes 66,968 7,457 12,453 — — 86,878 Change in tax credits, net 5,006 522 547 — — 6,075 Allowance for equity funds used during construction (5,735 ) (585 ) (687 ) — — (7,007 ) Changes in assets and liabilities: Increase in accounts receivable (48,451 ) (1,106 ) (2,164 ) — 4,717 [1] (47,004 ) Decrease (increase) in accrued unbilled revenues 2,728 4,106 (3,306 ) — — 3,528 Decrease in fuel oil stock 4,861 3,732 1,536 — — 10,129 Increase in materials and supplies (6,683 ) (636 ) (578 ) — — (7,897 ) Increase in regulatory assets (55,605 ) (9,649 ) (7,147 ) — — (72,401 ) Increase (decrease) in accounts payable (1) 6,329 (5,774 ) 5,767 — — 6,322 Change in prepaid and accrued income taxes and revenue taxes 19,871 1,935 3,433 — — 25,239 Decrease in defined benefit pension and other postretirement benefits plans liability (434 ) (191 ) (119 ) — — (744 ) Change in other assets and liabilities (2) (45,366 ) (11,335 ) (12,843 ) (1 ) (4,717 ) [1] (74,262 ) Net cash provided by (used in) operating activities 183,235 47,311 38,016 (4 ) (46,935 ) 221,623 Cash flows from investing activities Capital expenditures (3) (271,864 ) (43,396 ) (40,066 ) — — (355,326 ) Contributions in aid of construction 32,285 8,184 5,513 — — 45,982 Other (4) 486 192 165 — — 843 Advances from (to) affiliates (9,400 ) 28,100 18,500 — (37,200 ) [1] — Net cash used in investing activities (248,493 ) (6,920 ) (15,888 ) — (37,200 ) (308,501 ) Cash flows from financing activities Common stock dividends (73,044 ) (27,738 ) (19,197 ) — 46,935 [2] (73,044 ) Preferred stock dividends of Hawaiian Electric and subsidiaries (1,080 ) (534 ) (381 ) — — (1,995 ) Proceeds from the issuance of long-term debt 367,000 31,000 59,000 — — 457,000 Proceeds from issuance of common stock 44,000 — — — — 44,000 Repayment of long-term debt (259,580 ) (41,200 ) (67,720 ) — — (368,500 ) Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less (46,600 ) — 9,400 — 37,200 [1] — Other (1,992 ) 139 (377 ) — — (2,230 ) Net cash provided by (used in) financing activities 28,704 (38,333 ) (19,275 ) — 84,135 55,231 Net increase (decrease) in cash and cash equivalents (36,554 ) 2,058 2,853 (4 ) — (31,647 ) Cash and cash equivalents, January 1 44,819 3,383 496 108 — 48,806 Cash and cash equivalents, December 31 $ 8,265 5,441 3,349 104 — $ 17,159 (1) Prior to restatement, increase (decrease) in accounts payable for Hawaiian Electric, Hawaii Electric Light, Maui Electric and Hawaiian Electric Consolidated, were $(31,743) , $(8,110) , $940 and $(38,913) , respectively. (2) Prior to restatement,changes in other assets and liabilities for Hawaiian Electric, Hawaii Electric Light, Maui Electric, Other subsidiaries, Consolidating adjustments and Hawaiian Electric Consolidated were $(44,880) , $(11,143) , $(12,678) , $(1) , $(4,717) and $(73,419) , respectively. (3) Prior to restatement, capital expenditures for Hawaiian Electric, Hawaii Electric Light, Maui Electric and Hawaiian Electric Consolidated, were $(233,792) , $(41,060) , $(35,239) and $(310,091) , respectively.

Bank segment (HEI only) (Tables

Bank segment (HEI only) (Tables)	12 Months Ended
	Dec. 31, 2014
Bank Segment Disclosure [Abstract]
Schedule of statements of income data	Statements of Income Data Years ended December 31 2014 2013 2012 (in thousands) Interest and dividend income Interest and fees on loans $ 179,341 $ 172,969 $ 176,057 Interest and dividends on investment securities 11,945 13,095 13,822 Total interest and dividend income 191,286 186,064 189,879 Interest expense Interest on deposit liabilities 5,077 5,092 6,423 Interest on other borrowings 5,731 4,985 4,869 Total interest expense 10,808 10,077 11,292 Net interest income 180,478 175,987 178,587 Provision for loan losses 6,126 1,507 12,883 Net interest income after provision for loan losses 174,352 174,480 165,704 Noninterest income Fees from other financial services 21,747 27,099 31,361 Fee income on deposit liabilities 19,249 18,363 17,775 Fee income on other financial products 8,131 8,405 6,577 Bank-owned life insurance 3,949 3,928 3,981 Mortgage banking income 2,913 8,309 14,628 Gains on sale of investment securities 2,847 1,226 134 Other income, net 2,375 4,753 1,204 Total noninterest income 61,211 72,083 75,660 Noninterest expense Compensation and employee benefits 79,885 82,910 75,979 Occupancy 17,197 16,747 17,179 Data processing 11,690 10,952 10,098 Services 10,269 9,015 9,866 Equipment 6,564 7,295 7,105 Office supplies, printing and postage 6,089 4,233 3,870 Marketing 3,999 3,373 3,260 FDIC insurance 3,261 3,253 3,307 Other expense 20,990 21,726 21,679 Total noninterest expense 159,944 159,504 152,343 Income before income taxes 75,619 87,059 89,021 Income taxes 24,127 29,525 30,384 Net income $ 51,492 $ 57,534 $ 58,637
Schedule of statements of comprehensive income data	Statements of Comprehensive Income Years ended December 31 2014 2013 2012 (in thousands) Net income $ 51,492 $ 57,534 $ 58,637 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 $(3,856), $9,037 and ($631), for 2014, 2013 and 2012, respectively 5,840 (13,686 ) 956 Less: reclassification adjustment for net realized gains included in net income, net of taxes of $1,132, $488 and $53 for 2014, 2013 and 2012, respectively (1,715 ) (738 ) (81 ) Retirement benefit plans: Net gains (losses) arising during the period, net of (taxes) benefits of $6,164, ($10,450) and $5,240 for 2014, 2013 and 2012, respectively (9,336 ) 15,826 (7,936 ) Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $561, $1,187 and $684 for 2014, 2013 and 2012, respectively 850 1,797 1,036 Other comprehensive income (loss), net of taxes (4,361 ) 3,199 (6,025 ) Comprehensive income $ 47,131 $ 60,733 $ 52,612
Schedule of balance sheets data	Balance Sheets Data December 31 2014 2013 (in thousands) Assets Cash and due from banks $ 107,233 $ 108,998 Interest-bearing deposits 54,230 47,605 Available-for-sale investment securities, at fair value 550,394 529,007 Stock in Federal Home Loan Bank of Seattle, at cost 69,302 92,546 Loans receivable held for investment 4,434,651 4,150,229 Allowance for loan losses (45,618 ) (40,116 ) Net loans 4,389,033 4,110,113 Loans held for sale, at lower of cost or fair value 8,424 5,302 Other 304,435 268,063 Goodwill 82,190 82,190 Total assets $ 5,565,241 $ 5,243,824 Liabilities and shareholder’s equity Deposit liabilities–noninterest-bearing $ 1,342,794 $ 1,214,418 Deposit liabilities–interest-bearing 3,280,621 3,158,059 Other borrowings 290,656 244,514 Other 116,527 105,679 Total liabilities 5,030,598 4,722,670 Commitments and contingencies (see “Litigation” below) Common stock 1 1 Additional paid in capital 338,411 336,053 Retained earnings 212,789 197,297 Accumulated other comprehensive loss, net of tax benefits Net unrealized gains (losses) on securities $ 462 $ (3,663 ) Retirement benefit plans (17,020 ) (16,558 ) (8,534 ) (12,197 ) Total shareholder’s equity 534,643 521,154 Total liabilities and shareholder’s equity $ 5,565,241 $ 5,243,824 December 31 2014 2013 (in thousands) Other assets Bank-owned life insurance $ 134,115 $ 129,963 Premises and equipment, net 92,407 67,766 Prepaid expenses 3,196 3,616 Accrued interest receivable 13,632 13,133 Mortgage-servicing rights 11,540 11,687 Low-income housing equity investments 32,457 14,543 Real estate acquired in settlement of loans, net 891 1,205 Other 16,197 26,150 $ 304,435 $ 268,063 Other liabilities Accrued expenses $ 37,880 $ 19,989 Federal and state income taxes payable 26,806 37,807 Cashier’s checks 20,509 21,110 Advance payments by borrowers 9,652 9,647 Other 21,680 17,126 $ 116,527 $ 105,679
Schedule of the book value and aggregate fair value by major security type	The major components of investment securities were as follows: Gross unrealized losses Gross Gross Estimated Less than 12 months 12 months or longer (dollars in thousands) Amortized cost unrealized gains unrealized losses fair value Number of issues Fair value Amount Number of issues Fair value Amount 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 ) December 31, 2013 Available-for-sale Federal agency obligations $ 83,193 $ 174 $ (2,394 ) $ 80,973 10 $ 70,799 $ (2,394 ) — $ — $ — Mortgage-related securities- FNMA, FHLMC and GNMA 374,993 4,911 (10,460 ) 369,444 36 228,543 (8,819 ) 4 19,655 (1,641 ) Municipal bonds 76,904 1,826 (140 ) 78,590 3 14,478 (140 ) — — — $ 535,090 $ 6,911 $ (12,994 ) $ 529,007 49 $ 313,820 $ (11,353 ) 4 $ 19,655 $ (1,641 )
Schedule of contractual maturities of available-for-sale securities	The contractual maturities of available-for-sale investment securities were as follows: Amortized Fair December 31, 2014 Cost value (in thousands) Due in one year or less $ — $ — Due after one year through five years 34,953 35,007 Due after five years through ten years 47,131 47,885 Due after ten years 37,423 36,668 119,507 119,560 Mortgage-related securities-FNMA,FHLMC and GNMA 430,120 430,834 Total available-for-sale securities $ 549,627 $ 550,394
Schedule of proceeds, gains and losses from sales of available for sale investment securities	The proceeds, gross gains and losses from sales of available-for-sale investment securities were as follows: Years ended December 31 2014 2013 2012 (in millions) Proceeds $ 79.6 $ 71.4 $ 3.5 Gross gains 2.8 1.2 — Gross losses — — —
Schedule of interest income from available for sale investment securities	Interest income from taxable and non-taxable investment securities were as follows: Years ended December 31 2014 2013 2012 (in thousands) Taxable $ 11,666 $ 11,474 $ 12,309 Non-taxable 279 1,621 1,513 $ 11,945 $ 13,095 $ 13,822
Schedule of loans receivable	The components of loans receivable were summarized as follows: December 31 2014 2013 (in thousands) Real estate: Residential 1-4 family $ 2,044,205 $ 2,006,007 Commercial real estate 531,917 440,443 Home equity line of credit 818,815 739,331 Residential land 16,240 16,176 Commercial construction 96,438 52,112 Residential construction 18,961 12,774 Total real estate 3,526,576 3,266,843 Commercial 791,757 783,388 Consumer 122,656 108,722 Total loans 4,440,989 4,158,953 Less: Deferred fees and discounts (6,338 ) (8,724 ) Allowance for loan losses (45,618 ) (40,116 ) Total loans, net $ 4,389,033 $ 4,110,113
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 Home equity Residential land Commercial construction Residential construction Commercial Consumer Unallo- cated Total December 31, 2014 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 (987 ) — (196 ) (81 ) — — (1,872 ) (2,414 ) — (5,550 ) Recoveries 1,180 — 752 469 — — 1,636 889 — 4,926 Provision (1,065 ) 3,895 1,197 (330 ) 3,074 9 (1,550 ) 2,787 (1,891 ) 6,126 Ending balance $ 4,662 $ 8,954 $ 6,982 $ 1,875 $ 5,471 $ 28 $ 14,017 $ 3,629 $ — $ 45,618 Ending balance: individually evaluated for impairment $ 951 $ 1,845 $ 46 $ 1,057 $ — $ — $ 760 $ 6 $ 4,665 Ending balance: collectively evaluated for impairment $ 3,711 $ 7,109 $ 6,936 $ 818 $ 5,471 $ 28 $ 13,257 $ 3,623 $ — $ 40,953 Financing Receivables: Ending balance $ 2,044,205 $ 531,917 $ 818,815 $ 16,240 $ 96,438 $ 18,961 $ 791,757 $ 122,656 $ 4,440,989 Ending balance: individually evaluated for impairment $ 22,981 $ 5,112 $ 779 $ 7,850 $ — $ — $ 13,108 $ 16 $ 49,846 Ending balance: collectively evaluated for impairment $ 2,021,224 $ 526,805 $ 818,036 $ 8,390 $ 96,438 $ 18,961 $ 778,649 $ 122,640 $ 4,391,143 December 31, 2013 Allowance for loan losses: Beginning balance $ 6,068 $ 2,965 $ 4,493 $ 4,275 $ 2,023 $ 9 $ 15,931 $ 4,019 $ 2,202 $ 41,985 Charge-offs (1,162 ) — (782 ) (485 ) — — (3,056 ) (2,717 ) — (8,202 ) Recoveries 1,881 — 358 868 — — 1,089 630 — 4,826 Provision (1,253 ) 2,094 1,160 (2,841 ) 374 10 1,839 435 (311 ) 1,507 Ending balance $ 5,534 $ 5,059 $ 5,229 $ 1,817 $ 2,397 $ 19 $ 15,803 $ 2,367 $ 1,891 $ 40,116 Ending balance: individually evaluated for impairment $ 642 $ 1,118 $ — $ 1,332 $ — $ — $ 2,246 $ — $ 5,338 Ending balance: collectively evaluated for impairment $ 4,892 $ 3,941 $ 5,229 $ 485 $ 2,397 $ 19 $ 13,557 $ 2,367 $ 1,891 $ 34,778 Financing Receivables: Ending balance $ 2,006,007 $ 440,443 $ 739,331 $ 16,176 $ 52,112 $ 12,774 $ 783,388 $ 108,722 $ 4,158,953 Ending balance: individually evaluated for impairment $ 20,317 $ 4,604 $ 1,179 $ 10,577 $ — $ — $ 21,225 $ 19 $ 57,921 Ending balance: collectively evaluated for impairment $ 1,985,690 $ 435,839 $ 738,152 $ 5,599 $ 52,112 $ 12,774 $ 762,163 $ 108,703 $ 4,101,032
Schedule of changes in allowance for loan losses	Changes in the allowance for loan losses were as follows: (dollars in thousands) 2014 2013 2012 Allowance for loan losses, January 1 $ 40,116 $ 41,985 $ 37,906 Provision for loan losses 6,126 1,507 12,883 Charge-offs, net of recoveries Real estate loans (1,137 ) (678 ) 3,828 Other loans 1,761 4,054 4,976 Net charge-offs 624 3,376 8,804 Allowance for loan losses, December 31 $ 45,618 $ 40,116 $ 41,985 Ratio of net charge-offs to average total loans 0.01 % 0.09 % 0.24 %
Schedule of credit risk profile by internally assigned grade for loans	The credit risk profile by internally assigned grade for loans was as follows: December 31 2014 2013 (in thousands) Commercial real estate Commercial construction Commercial Commercial real estate Commercial construction Commercial Grade: Pass $ 493,105 $ 79,312 $ 743,334 $ 375,217 $ 52,112 $ 703,053 Special mention 5,209 — 16,095 33,436 — 17,634 Substandard 33,603 17,126 31,665 28,020 — 59,663 Doubtful — — 663 3,770 — 3,038 Loss — — — — — — Total $ 531,917 $ 96,438 $ 791,757 $ 440,443 $ 52,112 $ 783,388
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 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 $ — December 31, 2013 Real estate: Residential 1-4 family $ 2,728 $ 622 $ 15,411 $ 18,761 $ 1,987,246 $ 2,006,007 $ — Commercial real estate — — 3,770 3,770 436,673 440,443 — Home equity line of credit 765 312 960 2,037 737,294 739,331 — Residential land 184 48 2,756 2,988 13,188 16,176 — Commercial construction — — — — 52,112 52,112 — Residential construction — — — — 12,774 12,774 — Commercial 1,668 612 3,026 5,306 778,082 783,388 — Consumer 436 158 304 898 107,824 108,722 — Total loans $ 5,781 $ 1,752 $ 26,227 $ 33,760 $ 4,125,193 $ 4,158,953 $ —
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: December 31 2014 2013 (in thousands) Real estate: Residential 1-4 family $ 19,253 $ 19,679 Commercial real estate 5,112 4,439 Home equity line of credit 1,087 2,060 Residential land 720 3,161 Commercial construction — — Residential construction — — Commercial 10,053 18,781 Consumer 661 401 Total nonaccrual loans $ 36,886 $ 48,521 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 $ 13,525 $ 9,744 Commercial real estate — — Home equity line of credit 480 171 Residential land 7,130 7,476 Commercial construction — — Residential construction — — Commercial 2,972 1,649 Consumer — — Total troubled debt restructured loans not included above $ 24,107 $ 19,040
Schedule of the carrying amount and the total unpaid principal balance of impaired loans	The total carrying amount and the total unpaid principal balance of impaired loans were as follows: December 31 2014 2013 (in thousands) Recorded investment Unpaid principal balance Related Allow- ance Average recorded investment Interest income recognized* Recorded investment Unpaid principal balance Related allow- ance Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 11,654 $ 12,987 $ — $ 9,056 $ 227 $ 9,708 $ 12,144 $ — $ 11,674 $ 386 Commercial real estate 571 626 — 194 — — — — 802 — Home equity line of credit 363 606 — 402 5 672 1,227 — 623 2 Residential land 2,344 3,200 — 2,728 172 2,622 3,612 — 6,675 482 Commercial construction — — — — — — — — — — Residential construction — — — — — — — — — — Commercial 8,235 11,471 — 5,204 38 3,466 4,715 — 4,837 12 Consumer — — — 8 — 19 19 — 20 — 23,167 28,890 — 17,592 442 16,487 21,717 — 24,631 882 With an allowance recorded Real estate: Residential 1-4 family 11,327 11,347 951 8,822 419 6,216 6,236 642 6,455 372 Commercial real estate 4,541 4,541 1,845 3,415 478 4,604 4,686 1,118 5,745 152 Home equity line of credit 416 420 46 132 6 — — — — — Residential land 5,506 5,584 1,057 6,415 484 7,452 7,623 1,332 6,844 409 Commercial construction — — — — — — — — — — Residential construction — — — — — — — — — — Commercial 4,873 5,211 760 12,089 438 17,759 20,640 2,246 15,635 139 Consumer 16 16 6 9 — — — — — — 26,679 27,119 4,665 30,882 1,825 36,031 39,185 5,338 34,679 1,072 Total Real estate: Residential 1-4 family 22,981 24,334 951 17,878 646 15,924 18,380 642 18,129 758 Commercial real estate 5,112 5,167 1,845 3,609 478 4,604 4,686 1,118 6,547 152 Home equity line of credit 779 1,026 46 534 11 672 1,227 — 623 2 Residential land 7,850 8,784 1,057 9,143 656 10,074 11,235 1,332 13,519 891 Commercial construction — — — — — — — — — — Residential construction — — — — — — — — — — Commercial 13,108 16,682 760 17,293 476 21,225 25,355 2,246 20,472 151 Consumer 16 16 6 17 — 19 19 — 20 — $ 49,846 $ 56,009 $ 4,665 $ 48,474 $ 2,267 $ 52,518 $ 60,902 $ 5,338 $ 59,310 $ 1,954 * Since loan was classified as impaired.
Schedule of loan modifications	Loan modifications that occurred during 2014 and 2013 were as follows: Years ended December 31 2014 2013 Number Outstanding recorded investment Net increase in ALLL (as of period end) Number Outstanding recorded investment Net increase in ALLL (as of period end) (dollars in thousands) of Pre-modification Post-modification of contracts Pre-modification Post-modification Troubled debt restructurings Real estate: Residential 1-4 family 38 $ 10,680 $ 10,737 $ 163 34 $ 8,876 $ 8,957 $ 297 Commercial real estate — — — — — — — — Home equity line of credit 8 502 502 42 5 637 390 — Residential land 18 4,304 4,304 242 20 6,215 6,206 131 Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial 7 3,827 3,827 13 7 4,646 4,646 94 Consumer — — — — — — — — 71 $ 19,313 $ 19,370 $ 460 66 $ 20,374 $ 20,199 $ 522
Schedule of loans modified in TDRS that experienced a payment default of 90 days or more, and for which payment default occurred within one year of the modification	Loans modified in TDRs that experienced a payment default of 90 days or more in 2014 and 2013 , and for which the payment default occurred within one year of the modification, were as follows: Years ended December 31 2014 2013 (dollars in thousands) Number of contracts Recorded investment Number of contracts Recorded investment Troubled debt restructurings that subsequently defaulted Real estate: Residential 1-4 family 1 $ 390 — $ — Commercial real estate — — — — Home equity line of credit — — 1 67 Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial 1 14 2 660 Consumer — — — — 2 $ 404 3 $ 727
Schedule of amortized intangible assets	Changes in carrying value of mortgage servicing rights were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net December 31, 2014 $ 27,185 $ (15,436 ) $ (209 ) $ 11,540 December 31, 2013 $ 25,644 $ (13,706 ) $ (251 ) $ 11,687 Changes related to mortgage servicing rights were as follows: (in thousands) 2014 2013 2012 Mortgage servicing rights Balance, January 1 $ 11,938 $ 11,316 $ 8,402 Amount capitalized 1,637 2,611 4,845 Amortization (1,731 ) (1,802 ) (1,750 ) Other-than-temporary impairment (95 ) (187 ) (181 ) Carrying amount before valuation allowance, December 31 11,749 11,938 11,316 Valuation allowance for mortgage servicing rights Balance, January 1 251 498 175 Provision (recovery) 53 (60 ) 504 Other-than-temporary impairment (95 ) (187 ) (181 ) Balance, December 31 209 251 498 Net carrying value of mortgage servicing rights $ 11,540 $ 11,687 $ 10,818
Schedule of key assumptions used in estimating fair value	Key assumptions used in estimating the fair value of ASB’s mortgage servicing rights were as follows: December 31 2014 2013 (dollars in thousands) Unpaid principal balance $ 1,391,030 $ 1,357,003 Weighted average note rate 4.07 % 4.07 % Weighted average discount rate 9.6 % 9.8 % Weighted average prepayment speed 9.5 % 8.6 % 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 (dollars in thousands) Fair value Valuation technique Significant unobservable input Range Weighted December 31, 2014 Residential loans $ 2,297 Fair value of property or collateral Appraised value less 7% selling cost 39-99% 83% Home equity lines of credit 3 Fair value of property or collateral Appraised value less 7% selling cost 7% Commercial loans 145 Fair value of property or collateral Fair value of business assets 91% Total loans $ 2,445 Tax credit investments $ 8,975 Discounted cash flow Present value of expected future cash flows 5-93% 88% Discount rate 7% Real estate acquired in settlement of loans $ 288 Fair value of property or collateral Appraised value less 7% selling cost 100% 100% December 31, 2013 Residential loans $ 2,361 Fair value of property or collateral Appraised value less 7% selling cost 44-96% 87% Home equity lines of credit 170 Fair value of property or collateral Appraised value less 7% selling cost 45-50% 50% Commercial loans 217 Fair value of property or collateral Fair value of business assets 19% Commercial loans 1,668 Discounted cash flow Present value of expected future cash flows 58% Discount rate 4.5% Total loans $ 4,416 1 Represent percent of outstanding principal balance.
Schedule of sensitivity analysis of fair value of MSR to hypothetical adverse changes	The sensitivity analysis of fair value of MSR to hypothetical adverse changes of 25 and 50 basis points in certain key assumptions was as follows: December 31 2014 2013 (in thousands) Prepayment rate: 25 basis points adverse rate change $ (757 ) $ (732 ) 50 basis points adverse change (1,524 ) (1,492 ) Discount rate: 25 basis points adverse rate change (140 ) (154 ) 50 basis points adverse change (278 ) (306 )
Schedule of deposit liabilities	Deposit liabilities. The summarized components of deposit liabilities were as follows: December 31 2014 2013 (dollars in thousands) Weighted-average stated rate Amount Weighted-average stated rate Amount Savings 0.06 % $ 1,923,062 0.06 % $ 1,826,907 Checking Interest-bearing 0.02 768,787 0.02 721,700 Noninterest-bearing — 665,005 — 643,628 Commercial checking — 677,789 — 570,790 Money market 0.12 158,010 0.13 182,546 Term certificates 0.83 430,762 0.80 426,906 0.11 % $ 4,623,415 0.11 % $ 4,372,477
Schedule of maturities of term certificates	The approximate scheduled maturities of term certificates outstanding at December 31, 2014 were as follows: (in thousands) 2015 $ 255,896 2016 55,614 2017 44,315 2018 16,949 2019 54,979 Thereafter 3,009 $ 430,762
Schedule of interest expense on deposit liabilities by type	Interest expense on deposit liabilities by type of deposit was as follows: Years ended December 31 2014 2013 2012 (in thousands) Term certificates $ 3,603 $ 3,702 $ 4,865 Savings 1,134 1,052 1,128 Money market 214 232 319 Interest-bearing checking 126 106 111 $ 5,077 $ 5,092 $ 6,423
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 December 31, 2014 $ 191 $ — $ 191 December 31, 2013 145 — 145 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 December 31, 2014 Financial institution $ 50 $ 50 $ — $ — Government entities 56 56 — — Commercial account holders 85 85 — — Total $ 191 $ 191 $ — $ — December 31, 2013 Financial institution $ 51 $ 51 $ — $ — Commercial account holders 94 94 — — Total $ 145 $ 145 $ — $ — As of December 31, 2014, securities sold under agreements to repurchase were summarized as follows: Maturity Repurchase liability Weighted-average interest rate Collateralized by mortgage-related securities and federal agency obligations at fair value plus accrued interest (dollars in thousands) Overnight $ 84,758 0.15 % $ 114,883 1 to 29 days — — — 30 to 90 days — — — Over 90 days 105,898 1 2.50 115,842 $ 190,656 1.45 % $ 230,725 1 $50.3 million callable quarterly at par until maturity in 2016.
Schedule of securities sold under agreements to repurchase, which provided for repurchase of identical securities	Information concerning securities sold under agreements to repurchase, which provided for the repurchase of identical securities, was as follows: (dollars in millions) 2014 2013 2012 Amount outstanding as of December 31 $ 191 $ 145 $ 146 Average amount outstanding during the year $ 155 $ 147 $ 173 Maximum amount outstanding as of any month-end $ 195 $ 151 $ 189 Weighted-average interest rate as of December 31 1.45 % 1.75 % 1.74 % Weighted-average interest rate during the year 1.67 % 1.74 % 1.56 % Weighted-average remaining days to maturity as of December 31 343 367 489
Schedule of advances from Federal Home Loan Bank	Advances from Federal Home Loan Bank . FHLB advances are fixed rate for a specific term and consist of the following: December 31, 2014 Weighted-average stated rate Amount (dollars in thousands) Due in 2015 — % $ — 2016 — — 2017 4.28 50,000 1 2018 1.95 50,000 2019 — — Thereafter — — 3.12 % $ 100,000 1 Callable quarterly at par until maturity in 2017.
Schedule of notional amounts and fair value of derivatives	The notional amount and fair value of ASB’s derivative financial instruments were as follows: December 31 2014 2013 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 29,330 $ 390 $ 25,070 $ 464 Forward commitments 32,833 (106 ) 26,018 139
Schedule of derivative financial instruments, fair values, and balance sheet location	ASB’s derivative financial instruments, their fair values, and balance sheet location were as follows: Derivative Financial Instruments Not Designated as Hedging Instruments 1 December 31 2014 2013 (in thousands) Asset derivatives Liability derivatives Asset derivatives Liability derivatives Interest rate lock commitments $ 393 $ 3 $ 488 $ 24 Forward commitments 5 111 141 2 $ 398 $ 114 $ 629 $ 26 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 amount and location of net gains or losses	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 Location of net gains as Hedging Instruments (losses) recognized in Years ended December 31 (in thousands) the Statements of Income 2014 2013 2012 Interest rate lock commitments Mortgage banking income $ (74 ) $ 464 $ — Forward commitments Mortgage banking income (245 ) 139 — $ (319 ) $ 603 $ —
Schedule of off balance sheet arrangements	The following is a summary of outstanding off-balance sheet arrangements: December 31 2014 2013 (in thousands) Unfunded commitments to extend credit: Home equity line of credit $ 1,089,633 $ 1,011,334 Commercial and commercial real estate 526,133 527,987 Consumer 56,312 58,080 Residential 1-4 family 20,524 14,241 Commercial and financial standby letters of credit 20,082 15,747 Total $ 1,712,684 $ 1,627,389

Unconsolidated variable inter36

Unconsolidated variable interest entities Tables (Tables)	12 Months Ended
	Dec. 31, 2014
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
Schedule of purchases from independent power producers	Purchases from all IPPs were as follows: Years ended December 31 2014 2013 2012 (in millions) AES Hawaii $ 145 $ 134 $ 146 Kalaeloa 279 301 310 HEP 51 51 65 HPOWER 66 61 65 Other IPPs 181 164 138 Total IPPs $ 722 $ 711 $ 724

Long-term debt (Tables)

Long-term debt (Tables)	12 Months Ended
	Dec. 31, 2014
Long-term Debt, Unclassified [Abstract]
Schedule of long-term debt	December 31 2014 2013 (dollars in thousands) Long-term debt of Utilities 1 $ 1,206,546 $ 1,217,945 HEI term loan LIBOR + .90%, due 2016 125,000 — HEI medium-term note 6.51%, paid 2014 — 100,000 HEI senior note 4.41%, due 2016 75,000 75,000 HEI senior note 5.67%, due 2021 50,000 50,000 HEI senior note 3.99%, due 2023 50,000 50,000 $ 1,506,546 $ 1,492,945 1 See components of “Total long-term debt” and unamortized discount in Hawaiian Electric and subsidiaries’ Consolidated Statements of Capitalization.

Shareholders' equity (Tables)

Shareholders' equity (Tables)	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Schedule of accumulated other comprehensive income	Changes in the balances of each component of accumulated other comprehensive income/(loss) (AOCI) were as follows: HEI Consolidated Hawaiian Electric Consolidated (in thousands) Net unrealized gains (losses) on securities Unrealized losses on derivatives Retirement benefit plans AOCI AOCI -retirement benefit plans Balance, December 31, 2011 $ 9,886 $ (996 ) $ (28,027 ) $ (19,137 ) $ (32 ) Current period other comprehensive income (loss) 875 236 (8,397 ) (7,286 ) (938 ) Balance, December 31, 2012 10,761 (760 ) (36,424 ) (26,423 ) (970 ) Current period other comprehensive income (loss) (14,424 ) 235 23,862 9,673 1,578 Balance, December 31, 2013 (3,663 ) (525 ) (12,562 ) (16,750 ) 608 Current period other comprehensive income (loss) 4,125 236 (14,989 ) (10,628 ) (563 ) Balance, December 31, 2014 $ 462 $ (289 ) $ (27,551 ) $ (27,378 ) $ 45
Reclassification Out of Accumulated Other Comprehensive Income	Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Years ended December 31 2014 2013 2012 Affected line item in the Statement of Income (in thousands) HEI consolidated Net realized gains on securities $ (1,715 ) $ (738 ) $ (81 ) Revenues-bank (net gains on sales of securities) Derivatives qualified as cash flow hedges Interest rate contracts (settled in 2011) 236 235 236 Interest expense Retirement benefit plan items Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost 11,344 23,280 15,291 See Note 10 for additional details Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets 207,833 (222,595 ) 75,471 See Note 10 for additional details Total reclassifications $ 217,698 $ (199,818 ) $ 90,917 Hawaiian Electric consolidated Retirement benefit plan items Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost $ 10,212 $ 20,694 $ 13,673 See Note 10 for additional details Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets 207,833 (222,595 ) 75,471 See Note 10 for additional details Total reclassifications $ 218,045 $ (201,901 ) $ 89,144

Retirement benefits (Tables)

Retirement benefits (Tables)	12 Months Ended
	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Schedule of changes in the obligations and assets of the Company's retirement benefit plans and the changes in AOCI (gross) and the funded status	The changes in the obligations and assets of the Company’s and Utilities' retirement benefit plans and the changes in AOCI (gross) for 2014 and 2013 and the funded status of these plans and amounts related to these plans reflected in the Company’s and Utilities' consolidated balance sheet as of December 31, 2014 and 2013 were as follows: 2014 2013 (in thousands) Pension benefits Other benefits Pension benefits Other benefits HEI consolidated Benefit obligation, January 1 $ 1,446,291 $ 176,099 $ 1,590,304 $ 194,135 Service cost 49,264 3,490 56,405 4,306 Interest cost 72,202 8,550 64,788 7,569 Actuarial losses (gains) 342,446 39,098 (203,302 ) (21,743 ) Benefits paid and expenses (62,975 ) (8,028 ) (61,904 ) (8,168 ) Benefit obligation, December 31 1,847,228 219,209 1,446,291 176,099 Fair value of plan assets, January 1 1,186,669 179,330 971,314 156,731 Actual return on plan assets 81,123 9,149 194,130 29,164 Employer contributions 60,103 (257 ) 82,083 954 Benefits paid and expenses (61,835 ) (7,890 ) (60,858 ) (7,519 ) Fair value of plan assets, December 31 1,266,060 180,332 1,186,669 179,330 Accrued benefit asset (liability), December 31 $ (581,168 ) $ (38,877 ) $ (259,622 ) $ 3,231 Other assets $ 12,800 $ — $ 24,948 $ 7,200 Defined benefit pension and other postretirement benefit plans liability (593,968 ) (38,877 ) (284,570 ) (3,969 ) Accrued benefit asset (liability), December 31 $ (581,168 ) $ (38,877 ) $ (259,622 ) $ 3,231 AOCI debit/(credit), January 1 (excluding impact of PUC D&Os) $ 317,544 $ (21,722 ) $ 680,781 $ 18,846 Recognized during year – net recognized transition obligation — — — — Recognized during year – prior service credit (cost) (88 ) 1,793 97 1,793 Recognized during year – net actuarial losses (20,304 ) 11 (38,438 ) (1,602 ) Occurring during year – net actuarial losses (gains) 342,679 40,851 (324,896 ) (40,759 ) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 639,831 20,933 317,544 (21,722 ) Cumulative impact of PUC D&Os (592,291 ) (22,975 ) (294,266 ) 19,206 AOCI debit/(credit), December 31 $ 47,540 $ (2,042 ) $ 23,278 $ (2,516 ) Net actuarial loss (gain) $ 640,015 $ 35,022 $ 317,639 $ (5,840 ) Prior service gain (184 ) (14,089 ) (95 ) (15,882 ) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 639,831 20,933 317,544 (21,722 ) Cumulative impact of PUC D&Os (592,291 ) (22,975 ) (294,266 ) 19,206 AOCI debit/(credit), December 31 47,540 (2,042 ) 23,278 (2,516 ) Income taxes (benefits) (18,742 ) 795 (9,180 ) 980 AOCI debit/(credit), net of taxes (benefits), December 31 $ 28,798 $ (1,247 ) $ 14,098 $ (1,536 ) 2014 2013 (in thousands) Pension benefits Other benefits Pension benefits Other benefits Hawaiian Electric consolidated Benefit obligation, January 1 $ 1,320,810 $ 169,579 $ 1,449,445 $ 187,110 Service cost 47,597 3,392 54,482 4,163 Interest cost 65,979 8,234 59,119 7,288 Actuarial losses (gains) 314,210 38,488 (185,185 ) (20,900 ) Benefits paid and expenses (57,819 ) (7,933 ) (57,051 ) (8,082 ) Benefit obligation, December 31 1,690,777 211,760 1,320,810 169,579 Fair value of plan assets, January 1 1,058,260 176,291 861,778 154,186 Actual return on plan assets 69,242 9,036 172,822 28,700 Employer contributions 58,948 (274 ) 80,325 839 Benefits paid and expenses (57,445 ) (7,797 ) (56,665 ) (7,434 ) Fair value of plan assets, December 31 1,129,005 177,256 1,058,260 176,291 Accrued benefit asset (liability), December 31 $ (561,772 ) $ (34,504 ) $ (262,550 ) $ 6,712 Other assets $ — $ — $ — $ 7,200 Other liabilities (short-term) (421 ) (460 ) (388 ) (488 ) Defined benefit pension and other postretirement benefit plans liability (561,351 ) (34,044 ) (262,162 ) — Accrued benefit asset (liability), December 31 $ (561,772 ) $ (34,504 ) $ (262,550 ) $ 6,712 AOCI debit/(credit), January 1 (excluding impact of PUC D&Os) $ 295,973 $ (21,907 ) $ 623,588 $ 17,432 Recognized during year – net recognized transition asset — — — — Recognized during year – prior service credit (cost) (62 ) 1,804 464 1,803 Recognized during year – net actuarial losses (18,459 ) — (34,597 ) (1,544 ) Occurring during year – net actuarial losses (gains) 317,651 40,193 (293,482 ) (39,598 ) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 595,103 20,090 295,973 (21,907 ) Cumulative impact of PUC D&Os (592,291 ) (22,975 ) (294,266 ) 19,206 AOCI debit/(credit), December 31 $ 2,812 $ (2,885 ) $ 1,707 $ (2,701 ) Net actuarial loss (gain) $ 595,017 $ 34,192 $ 295,825 $ (6,001 ) Prior service cost (gain) 86 (14,102 ) 148 (15,906 ) AOCI debit/(credit) before cumulative impact of PUC D&Os, December 31 595,103 20,090 295,973 (21,907 ) Cumulative impact of PUC D&Os (592,291 ) (22,975 ) (294,266 ) 19,206 AOCI debit/(credit), December 31 2,812 (2,885 ) 1,707 (2,701 ) Income taxes (benefits) (1,094 ) 1,122 (664 ) 1,050 AOCI debit/(credit), net of taxes (benefits), December 31 $ 1,718 $ (1,763 ) $ 1,043 $ (1,651 )
Schedule of weighted-average asset allocation of defined benefit retirement plans	The asset allocation of defined benefit retirement plans to equity and fixed income securities managers and related investment policy targets and ranges were as follows: Pension benefits 1 Other benefits 2 Investment policy Investment policy December 31 2014 2013 Target Range 2014 2013 Target Range Assets held by category Equity securities managers 73 % 73 % 70 % 65-75 72 % 74 % 70 % 65-75 Fixed income securities managers 27 27 30 25-35 28 26 30 25-35 100 % 100 % 100 % 100 % 100 % 100 %
Schedule of weighted-average assumptions used in accounting for plans	The following weighted-average assumptions were used in the accounting for the plans: Pension benefits Other benefits December 31 2014 2013 2012 2014 2013 2012 Benefit obligation Discount rate 4.22 % 5.09 % 4.13 % 4.17 % 5.03 % 4.07 % Rate of compensation increase 3.5 3.5 3.5 NA NA NA Net periodic benefit cost (years ended) Discount rate 5.09 4.13 5.19 5.03 4.07 4.90 Expected return on plan assets 7.75 7.75 7.75 7.75 7.75 7.75 Rate of compensation increase 3.5 3.5 3.5 NA NA NA NA Not applicable
Schedule of components of net periodic benefit cost for consolidated HEI	The components of NPBC were as follows: Pension benefits Other benefits (in thousands) 2014 2013 2012 2014 2013 2012 HEI consolidated Service cost $ 49,264 $ 56,405 $ 43,221 $ 3,490 $ 4,306 $ 4,211 Interest cost 72,202 64,788 67,480 8,550 7,569 9,009 Expected return on plan assets (81,355 ) (72,537 ) (71,183 ) (10,902 ) (10,147 ) (10,336 ) Amortization of net transition obligation — — 1 — — — Amortization of net prior service (gain) cost 88 (97 ) (325 ) (1,793 ) (1,793 ) (1,793 ) Amortization of net actuarial loss (gains) 20,304 38,438 25,675 (11 ) 1,602 1,498 Net periodic benefit cost 60,503 86,997 64,869 (666 ) 1,537 2,589 Impact of PUC D&Os (13,324 ) (38,104 ) (15,754 ) 1,976 (1,458 ) (2,227 ) Net periodic benefit cost (adjusted for impact of PUC D&Os) 47,179 48,893 49,115 1,310 79 362 Hawaiian Electric consolidated Service cost $ 47,597 $ 54,482 $ 41,603 $ 3,392 $ 4,163 $ 4,014 Interest cost 65,979 59,119 61,453 8,234 7,288 8,703 Expected return on plan assets (72,661 ) (64,551 ) (64,004 ) (10,739 ) (10,002 ) (10,195 ) Amortization of net transition obligation — — — — — (9 ) Amortization of net prior service (gain) cost 62 (464 ) (689 ) (1,804 ) (1,803 ) (1,803 ) Amortization of net actuarial loss 18,459 34,597 23,428 — 1,544 1,455 Net periodic benefit cost 59,436 83,183 61,791 (917 ) 1,190 2,165 Impact of PUC D&Os (13,324 ) (38,104 ) (15,754 ) 1,976 (1,458 ) (2,227 ) Net periodic benefit cost (adjusted for impact of PUC D&Os) $ 46,112 $ 45,079 $ 46,037 $ 1,059 $ (268 ) $ (62 )
Schedule of amounts in accumulated other comprehensive Income (loss) to be recognized over next fiscal year	The estimated prior service credit, net actuarial loss and net transition obligation for defined benefit plans that will be amortized from AOCI or regulatory assets into net periodic benefit cost during 2015 is as follows: HEI consolidated Hawaiian Electric consolidated (in millions) Pension benefits Other benefits Pension benefits Other benefits Estimated prior service cost (credit) $ — $ (1.8 ) $ — $ (1.8 ) Net actuarial loss 35.8 1.7 32.4 1.7 Net transition obligation — — — —

Share-based compensation (Table

Share-based compensation (Tables)	12 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of share-based compensation expense and related income tax benefit	The Company’s share-based compensation expense and related income tax benefit were as follows: (in millions) 2014 2013 2012 HEI consolidated Share-based compensation expense 1 $ 9.3 $ 7.8 $ 6.7 Income tax benefit 3.4 2.8 2.4 Hawaiian Electric consolidated Share-based compensation expense 1 3.1 2.3 1.8 Income tax benefit 1.2 0.9 0.7 1 $0.16 million , $0.11 million and $0.08 million of this share-based compensation expense was capitalized in 2014 , 2013 and 2012 , respectively.
Schedule of common stock granted to nonemployee directors	HEI granted HEI common stock to nonemployee directors of HEI, Hawaiian Electric and ASB under the 2011 Director Plan as follows: (dollars in millions) 2014 2013 2012 Shares granted 33,170 33,184 29,448 Fair value $ 0.8 $ 0.8 $ 0.8 Income tax benefit 0.3 0.3 0.3
Summary of information about nonqualified stock options	Information about HEI’s NQSOs was as follows: 2013 2012 Shares (1) Shares (1) Outstanding, January 1 14,000 $ 20.49 55,500 $ 20.92 Granted — — — — Exercised (14,000 ) 20.49 (41,500 ) 21.06 Forfeited — — — — Expired — — — — Outstanding, December 31 — $ — 14,000 $ 20.49 Exercisable, December 31 — $ — 14,000 $ 20.49 (1) Weighted-average exercise price
Schedule of nonqualified stock options activity and statistics	NQSO activity and statistics were as follows: (in thousands) 2013 2012 Cash received from exercise $ 287 $ 874 Intrinsic value of shares exercised 1 128 354 Tax benefit realized for the deduction of exercises 50 138 1 Intrinsic value is the amount by which the fair market value of the underlying stock and the related dividend equivalents exceeds the exercise price of the option.
Summary of information about stock appreciation rights	Information about HEI’s SARs is summarized as follows: 2014 2013 2012 Shares (1) Shares (1) Shares (1) Outstanding, January 1 164,000 $ 26.12 164,000 $ 26.12 282,000 $ 26.14 Granted — — — — — — Exercised (22,000 ) 26.18 — — (114,000 ) 26.17 Forfeited (62,000 ) 26.02 — — — — Expired — — — — (4,000 ) 26.18 Outstanding, December 31 80,000 $ 26.18 164,000 $ 26.12 164,000 $ 26.12 Exercisable, December 31 80,000 $ 26.18 164,000 $ 26.12 164,000 $ 26.12 (1) Weighted-average exercise price December 31, 2014 Outstanding & Exercisable (Vested) Year of Grant Number of shares underlying SARs Weighted-average remaining contractual life Weighted-average exercise price 2005 80,000 0.3 $ 26.18
Schedule of stock appreciation rights by grant year	(1) Weighted-average exercise price December 31, 2014 Outstanding & Exercisable (Vested) Year of Grant Number of shares underlying SARs Weighted-average remaining contractual life Weighted-average exercise price 2005 80,000 0.3 $ 26.18
Schedule of stock appreciation rights activity and statistics	SARs activity and statistics were as follows: (in thousands) 2014 2013 2012 Intrinsic value of shares exercised 1 $ 29 $ — $ 197 Tax benefit realized for the deduction of exercises 11 — 77 1 Intrinsic value is the amount by which the fair market value of the underlying stock and the related dividend equivalents exceeds the exercise price of the right.
Schedule of restricted share and stock awards	Information about HEI’s grants of restricted shares and restricted stock awards was as follows: 2014 2013 2012 Shares (1) Shares (1) Shares (1) Outstanding, January 1 4,503 $ 22.21 9,005 $ 22.21 46,807 $ 24.45 Granted — — — — — — Vested (4,503 ) 22.21 (4,502 ) 22.21 (37,802 ) 24.99 Forfeited — — — — — — Outstanding, December 31 — $ — 4,503 $ 22.21 9,005 $ 22.21 (1) Weighted-average grant-date fair value per share based on the closing or average price of HEI common stock on the date of grant.
Schedule of restricted stock units	Restricted stock units. Information about HEI’s grants of restricted stock units was as follows: 2014 2013 2012 Shares (1) Shares (1) Shares (1) Outstanding, January 1 288,151 $ 25.17 315,094 $ 22.82 247,286 $ 21.80 Granted 117,786 25.17 111,231 26.88 98,446 25.99 Vested (144,702 ) 24.09 (118,885 ) 20.48 (25,728 ) 24.68 Forfeited — — (19,289 ) 25.62 (4,910 ) 24.92 Outstanding, December 31 261,235 $ 25.77 288,151 $ 25.17 315,094 $ 22.82 Total weighted-average grant-date fair value of shares granted ($ millions) $ 3.0 $ 3.0 $ 2.6 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.
Schedule of Long-Term Incentive Plan (LTIP) linked to total return to shareholders	Information about HEI’s LTIP grants linked to TRS was as follows: 2014 2013 2012 Shares (1) Shares (1) Shares (1) Outstanding, January 1 232,127 $ 32.88 239,256 $ 29.12 197,385 $ 25.94 Granted 97,524 22.95 91,038 32.69 81,223 30.71 Vested (settled or lapsed) (70,189 ) 35.46 (87,753 ) 22.45 (35,397 ) 14.85 Forfeited (1,506 ) 28.32 (10,414 ) 32.72 (3,955 ) 30.82 Outstanding, December 31 257,956 $ 28.45 232,127 $ 32.88 239,256 $ 29.12 Total weighted-average grant-date fair value of shares granted ($ millions) $ 2.2 $ 3.0 $ 2.5 (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 2013 2012 Risk-free interest rate 0.66 % 0.38 % 0.33 % Expected life in years 3 3 3 Expected volatility 17.8 % 19.4 % 25.3 % Range of expected volatility for Peer Group 12.4% to 23.3% 12.4% to 25.3% 15.5% to 34.5% Grant date fair value (per share) $ 22.95 $ 32.69 $ 30.71
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: 2014 2013 2012 Shares (1) Shares (1) Shares (1) Outstanding, January 1 296,843 $ 26.14 247,175 $ 25.04 182,498 $ 22.63 Granted 129,603 25.18 120,399 26.89 125,157 26.05 Vested and settled (65,089 ) 24.95 (18,280 ) 18.95 — — Increase above target (cancelled) 4,949 26.70 (41,599 ) 24.97 (50,786 ) 18.95 Forfeited (1,575 ) 26.07 (10,852 ) 26.20 (9,694 ) 24.44 Outstanding, December 31 364,731 $ 26.01 296,843 $ 26.14 247,175 $ 25.04 Total weighted-average grant-date fair value of shares granted (at target performance levels) ($ millions) $ 3.3 $ 3.2 $ 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.

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Components of income taxes attributable to net income for common stock	The components of income taxes attributable to net income for common stock were as follows: HEI consolidated Hawaiian Electric consolidated Years ended December 31 2014 2013 2012 2014 2013 2012 (in thousands) Federal Current, as revised (1) $ (10,970 ) $ (1,520 ) $ (15,411 ) $ 1,108 $ 1,313 $ (26,965 ) Deferred, as revised (1) 91,159 73,680 82,138 68,775 58,024 79,437 Deferred tax credits, net — 224 187 — 224 186 80,189 72,384 66,914 69,883 59,561 52,658 State Current (7,339 ) (1,555 ) (4,654 ) (9,436 ) (3,720 ) (4,940 ) Deferred 12,756 6,719 8,710 14,172 6,483 7,441 Deferred tax credits, net 6,106 6,793 5,889 6,106 6,793 5,889 11,523 11,957 9,945 10,842 9,556 8,390 Total $ 91,712 $ 84,341 $ 76,859 $ 80,725 $ 69,117 $ 61,048 (1) As revised for HEI consolidated by $(44,732) for "Current" and $44,732 for "Deferred" for the year ended December 31, 2014 - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”
Schedule of reconciliation of amount of income taxes computed at federal statutory rate	A reconciliation of the amount of income taxes computed at the federal statutory rate of 35% to the amount provided in the consolidated statements of income was as follows: HEI consolidated Hawaiian Electric consolidated Years ended December 31 2014 2013 2012 2014 2013 2012 (in thousands) Amount at the federal statutory income tax rate $ 91,672 $ 86,711 $ 76,092 $ 77,126 $ 67,914 $ 56,812 Increase (decrease) resulting from: State income taxes, net of federal income tax benefit 7,490 7,772 6,464 7,047 6,211 5,453 Other, net (7,450 ) (10,142 ) (5,697 ) (3,448 ) (5,008 ) (1,217 ) Total $ 91,712 $ 84,341 $ 76,859 $ 80,725 $ 69,117 $ 61,048 Effective income tax rate 35.0 % 34.0 % 35.4 % 36.6 % 35.6 % 37.6 %
Schedule of deferred tax assets and liabilities	The tax effects of book and tax basis differences that give rise to deferred tax assets and liabilities were as follows: HEI consolidated Hawaiian Electric consolidated December 31 2014 2013 2014 2013 (in thousands) Deferred tax assets Net operating loss $ — $ — 51,936 19,848 Other 58,352 57,239 17,663 17,295 Total deferred tax assets 58,352 57,239 69,599 37,143 Deferred tax liabilities Property, plant and equipment related 448,723 378,280 446,259 375,771 Repairs deduction 86,408 75,127 86,408 75,127 Regulatory assets, excluding amounts attributable to property, plant and equipment 33,795 33,251 33,795 33,251 Deferred RAM and RBA revenues 32,889 — 32,889 — Retirement benefits 25,336 29,280 28,758 23,851 Other 62,935 70,561 14,929 15,602 Total deferred tax liabilities 690,086 586,499 643,038 523,602 Net deferred income tax liability $ 631,734 $ 529,260 $ 573,439 $ 486,459 Prepayments and other (Current assets-debit) $ — $ — $ 32,915 $ 20,702 Other (Current liabilities-credit) — — 3,482 — Deferred income taxes (credit) 631,734 529,260 602,872 507,161 Net deferred income tax liability $ 631,734 $ 529,260 $ 573,439 $ 486,459
Schedule of changes in total unrecognized tax benefits	The changes in total unrecognized tax benefits were as follows: HEI consolidated Hawaiian Electric consolidated (in millions) 2014 2013 2012 2014 2013 2012 Unrecognized tax benefits, January 1 $ 0.9 $ 0.8 $ 5.7 $ 0.5 $ 0.4 3.7 Additions based on tax positions taken during the year — — 0.3 — — 0.3 Reductions based on tax positions taken during the year — — — — — — Additions for tax positions of prior years 0.1 0.5 — 0.1 0.5 — Reductions for tax positions of prior years — (0.4 ) (4.1 ) — (0.4 ) (3.6 ) Settlements (1.0 ) — — (0.6 ) — — Lapses of statute of limitations — — (1.1 ) — — — Unrecognized tax benefits, December 31 $ — $ 0.9 $ 0.8 $ — $ 0.5 $ 0.4

Cash flows (Tables)

Cash flows (Tables)	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental disclosures of cash and noncash activity	Years ended December 31 2014 2013 2012 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates $ 84 $ 85 $ 84 Income taxes paid 47 18 17 Income taxes refunded 24 4 31 Hawaiian Electric consolidated Interest paid to non-affiliates 61 59 57 Income taxes paid 6 6 6 Income taxes refunded 8 32 9 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment-unpaid invoices and accruals, as revised for 2014 and restated for 2013 and 2012 (1) 43 (12 ) (8 ) Common stock dividends reinvested in HEI common stock 1 — 24 24 Loans transferred from held for investment to held for sale — 25 — Real estate acquired in settlement of loans 3 4 11 Obligations to fund low income housing investments, net 14 1 — Hawaiian Electric consolidated Electric utility property, plant and equipment AFUDC-equity 7 6 7 Estimated fair value of noncash contributions in aid of construction 3 5 10 Unpaid invoices and accruals, as revised for 2014 and restated for 2013 and 2012 (1) 40 (12 ) (8 ) (1) As revised or restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.” 1 The amounts shown represents common stock dividends reinvested in HEI common stock under the HEI DRIP in noncash transactions.

Fair value measurements (Tables

Fair value measurements (Tables)	12 Months Ended
	Dec. 31, 2014
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 of Seattle, 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 (in thousands) Carrying or notional amount Quoted prices in active markets for identical assets (Level 1) Significant other Observable inputs (Level 2) Significant Unobservable inputs Total 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 of Seattle 69,302 — 69,302 — 69,302 Loans receivable, net 4,397,457 — — 4,578,822 4,578,822 Derivative assets 30,120 — 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 32,043 71 43 — 114 December 31, 2013 Financial assets Money market funds $ 10 $ — $ 10 $ — $ 10 Available-for-sale investment securities 529,007 — 529,007 — 529,007 Stock in Federal Home Loan Bank of Seattle 92,546 — 92,546 — 92,546 Loans receivable, net 4,115,415 — — 4,211,290 4,211,290 Derivative assets 46,356 98 531 — 629 Financial liabilities Deposit liabilities 4,372,477 — 4,374,377 — 4,374,377 Short-term borrowings—other than bank 105,482 — 105,482 — 105,482 Other bank borrowings 244,514 — 256,029 — 256,029 Long-term debt, net—other than bank 1,492,945 — 1,508,425 — 1,508,425 The Utilities' long-term debt, net (included in amount above) 1,217,945 — 1,228,966 — 1,228,966 Derivative liabilities 4,732 — 26 — 26
Schedule of assets and liabilities measured at fair value on a recurring basis	Assets and liabilities measured at fair value on a recurring basis were as follows: December 31 2014 2013 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 $ — $ 430,834 $ — $ — $ 369,444 $ — U.S. Treasury and federal agency obligations — 119,560 — — 80,973 — Municipal bonds — — — — 78,590 — $ — $ 550,394 $ — $ — $ 529,007 $ — Derivative assets 1 Interest rate lock commitments $ — $ 393 $ — $ — $ 488 $ — Forward commitments — 5 — 98 43 — $ — $ 398 $ — $ 98 $ 531 $ — Derivative liabilities 1 Interest rate lock commitments $ — $ 3 $ — $ — $ 24 $ — Forward commitments 71 40 — — 2 — $ 71 $ 43 $ — $ — $ 26 $ — 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 using (in millions) Balance Level 1 Level 2 Level 3 December 31, 2014 Loans $ 2 $ — $ — $ 2 Tax credit investments 9 — — 9 Real estate acquired in settlement of loans — — — — December 31, 2013 Loans 4 — — 4 Real estate acquired in settlement of loans — — — —
Schedule of significant unobservable inputs used in the fair value measurement	Key assumptions used in estimating the fair value of ASB’s mortgage servicing rights were as follows: December 31 2014 2013 (dollars in thousands) Unpaid principal balance $ 1,391,030 $ 1,357,003 Weighted average note rate 4.07 % 4.07 % Weighted average discount rate 9.6 % 9.8 % Weighted average prepayment speed 9.5 % 8.6 % 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 (dollars in thousands) Fair value Valuation technique Significant unobservable input Range Weighted December 31, 2014 Residential loans $ 2,297 Fair value of property or collateral Appraised value less 7% selling cost 39-99% 83% Home equity lines of credit 3 Fair value of property or collateral Appraised value less 7% selling cost 7% Commercial loans 145 Fair value of property or collateral Fair value of business assets 91% Total loans $ 2,445 Tax credit investments $ 8,975 Discounted cash flow Present value of expected future cash flows 5-93% 88% Discount rate 7% Real estate acquired in settlement of loans $ 288 Fair value of property or collateral Appraised value less 7% selling cost 100% 100% December 31, 2013 Residential loans $ 2,361 Fair value of property or collateral Appraised value less 7% selling cost 44-96% 87% Home equity lines of credit 170 Fair value of property or collateral Appraised value less 7% selling cost 45-50% 50% Commercial loans 217 Fair value of property or collateral Fair value of business assets 19% Commercial loans 1,668 Discounted cash flow Present value of expected future cash flows 58% Discount rate 4.5% Total loans $ 4,416 1 Represent percent of outstanding principal balance.
Schedule of assets held in various trusts are measured at fair value on a recurring basis	Assets held in various trusts for the retirement benefit plans are measured at fair value on a recurring basis and were as follows: Pension benefits Other benefits Fair value measurements using Fair value measurements using (in millions) December 31 Level 1 Level 2 Level 3 December 31 Level 1 Level 2 Level 3 2014 Equity securities $ 649 $ 649 $ — $ — $ 99 $ 99 $ — $ — Equity index funds 132 132 — — 19 19 — — Fixed income securities 428 121 307 — 49 43 6 — Pooled and mutual funds and other 82 1 81 — 14 3 11 — Total $ 1,291 $ 903 $ 388 $ — $ 181 $ 164 $ 17 $ — Cash, receivables and payables, net (25 ) (1 ) Fair value of plan assets $ 1,266 $ 180 2013 Equity securities $ 672 $ 672 $ — $ — $ 102 $ 102 $ — $ — Equity index funds 127 127 — — 19 19 — — Fixed income securities 350 122 228 — 46 40 6 — Pooled and mutual funds and other 84 — 83 1 13 — 13 — Total 1,233 $ 921 $ 311 $ 1 180 $ 161 $ 19 $ — Cash, receivables and payables, net (46 ) (1 ) Fair value of plan assets $ 1,187 $ 179
Schedule of changes in Level 3 assets	For 2014 and 2013 , the changes in Level 3 assets were as follows: 2014 2013 (in thousands) Pension benefits Other benefits Pension benefits Other benefits Balance, January 1 $ 580 $ 18 $ 581 $ 18 Realized and unrealized losses (203 ) (6 ) (1 ) — Purchases and settlements, net (282 ) (8 ) — — Balance, December 31 $ 95 $ 4 $ 580 $ 18

Quarterly information (unaudi44

Quarterly information (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Schedule of selected quarterly information	Selected quarterly information was as follows: Quarters ended Years ended (in thousands, except per share amounts) March 31 June 30 Sept. 30 Dec. 31 December 31 HEI consolidated 2014 Revenues $ 783,749 $ 798,657 $ 867,096 $ 790,040 $ 3,239,542 Operating income 88,306 82,275 91,102 67,241 328,924 Net income 46,400 41,894 48,286 33,630 170,210 Net income for common stock 45,927 41,421 47,815 33,157 168,320 Basic earnings per common share 1 0.45 0.41 0.47 0.32 1.65 Diluted earnings per common share 2 0.45 0.41 0.46 0.32 1.64 Dividends per common share 0.31 0.31 0.31 0.31 1.24 Market price per common share 3 High 26.80 25.65 26.89 35.00 35.00 Low 24.39 23.04 22.71 26.04 22.71 2013 Revenues $ 782,232 $ 794,567 $ 829,168 $ 832,503 $ 3,238,470 Operating income 68,825 80,207 88,038 78,349 315,419 Net income 34,152 41,061 48,707 39,486 163,406 Net income for common stock 33,679 40,588 48,236 39,013 161,516 Basic earnings per common share 1 0.34 0.41 0.49 0.39 1.63 Diluted earnings per common share 2 0.34 0.41 0.48 0.39 1.62 Dividends per common share 0.31 0.31 0.31 0.31 1.24 Market price per common share 3 High 27.92 28.30 27.24 27.15 28.30 Low 25.50 23.84 24.12 24.51 23.84 Hawaiian Electric consolidated 2014 Revenues $ 720,062 $ 738,429 $ 803,565 $ 725,267 $ 2,987,323 Operating income 70,666 70,068 76,156 58,878 275,768 Net income 35,919 34,729 39,377 29,611 139,636 Net income for common stock 35,420 34,230 38,879 29,112 137,641 2013 Revenues 717,441 728,525 764,054 770,152 2,980,172 Operating income 51,121 58,975 69,853 65,564 245,513 Net income 24,928 29,192 38,315 32,489 124,924 Net income for common stock 24,429 28,693 37,817 31,990 122,929 Note: HEI owns all of Hawaiian Electric's common stock, therefore per share data for Hawaiian Electric is not meaningful. 1 The quarterly basic earnings per common share are based upon the weighted-average number of shares of common stock outstanding in each quarter. 2 The quarterly diluted earnings per common share are based upon the weighted-average number of shares of common stock outstanding in each quarter plus the dilutive incremental shares at quarter end. 3 Market prices of HEI common stock (symbol HE) shown are as reported on the NYSE Composite Tape.

Summary of significant accoun45

Summary of significant accounting policies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Future minimum lease payments
2,015	$ 17
2,016	15
2,017	12
2,018	9
2,019	7
Thereafter	23
Total	83
Leases
Operating lease expense	$ 19	$ 19	$ 19
Composite annual depreciation rate (as a percent)	3.10%	3.10%	3.10%
Maximum
Cash and cash equivalents
Original maturity period of investments classified as cash equivalents	3 months
Equity method
Ownership percentage of affiliates classified as equity method investments	50.00%
Hawaiian Electric Company, Inc. and Subsidiaries
Future minimum lease payments
2,015	$ 8
2,016	6
2,017	5
2,018	4
2,019	3
Thereafter	14
Total	40
Leases
Operating lease expense	$ 9	$ 8	$ 8

Summary of significant accoun46

Summary of significant accounting policies (Details 2)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Depreciation
Composite annual depreciation rate (as a percent)	3.10%	3.10%	3.10%
Minimum
Depreciation
Estimated useful life under production plant (in years)	20 years
Estimated useful life under transmission and distribution plant (in years)	25 years
Estimated useful life under general plant (in years)	5 years
Maximum
Depreciation
Estimated useful life under production plant (in years)	88 years
Estimated useful life under transmission and distribution plant (in years)	65 years
Estimated useful life under general plant (in years)	65 years

Summary of significant accoun47

Summary of significant accounting policies (Details 3) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Basic
Distributed earnings (in dollars per share)									$ 1.24	$ 1.24	$ 1.24
Undistributed earnings (loss) (in dollars per share)									0.41	0.39	0.19
Earnings Per Share, basic (in dollars per share)	$ 0.32	$ 0.47	$ 0.41	$ 0.45	$ 0.39	$ 0.49	$ 0.41	$ 0.34	1.65	1.63	1.43
Diluted
Distributed earnings (in dollars per share)									1.24	1.24	1.24
Undistributed earnings (losses) (in dollars per share)									0.40	0.38	0.18
Earnings Per Share, diluted (in dollars per share)	$ 0.32	$ 0.46	$ 0.41	$ 0.45	$ 0.39	$ 0.48	$ 0.41	$ 0.34	$ 1.64	$ 1.62	$ 1.42
Summary of significant accounting policies
Amount reclassified form other assets to plant and equipment	$ 6,399,724				$ 6,057,936				$ 6,399,724	$ 6,057,936
Other assets	541,542				512,627				541,542	512,627
Accounts Receivable
Allowance for customer accounts receivable, accrued unbilled revenues and other accounts receivable	2,000				2,000				2,000	2,000
Goodwill and other intangibles
Goodwill	$ 82,190				82,190				$ 82,190	82,190
Fair value excess over carrying value (percent)	60.00%								60.00%
Hawaiian Electric Company, Inc. and Subsidiaries
Electric utility revenues
Revenue taxes included in revenues and in taxes, other than income taxes expense									$ 267,000	$ 266,000	$ 280,000
Weighted average AFUDC rate (as a percent)									7.70%	7.60%	7.60%
Hawaiian Electric Company, Inc. and Subsidiaries | Minimum
Contributions in aid of construction
Contributions amortized period									30 years
Hawaiian Electric Company, Inc. and Subsidiaries | Maximum
Contributions in aid of construction
Contributions amortized period									55 years
Bank
Loans modified in a troubled debt restructuring
Number of consecutive months of repayment required for loans to be removed from nonaccrual status									6 months
Goodwill and other intangibles
Goodwill	$ 82,190				82,190				$ 82,190	$ 82,190
Stock appreciation rights (SARs) | Common stock
Antidilutive effect of stock appreciation rights (SARs)
Antidilutive effects of SARs shares that were not included in the computation of diluted EPS (in shares)										102	102
Bank
Summary of significant accounting policies
Other assets	304,435				268,063				304,435	$ 268,063
Goodwill and other intangibles
Goodwill	82,190				82,190				82,190	82,190
Antidilutive effect of stock appreciation rights (SARs)
Commitments to fund affordable housing investments	14,800				600				14,800	600
Affordable housing investment, carrying value	$ 32,457				14,543				$ 32,457	14,543
Restatement adjustment
Summary of significant accounting policies
Amount reclassified form other assets to plant and equipment					7,000					7,000
Other assets					$ (7,000)					$ (7,000)

Summary of significant accoun48

Summary of significant accounting policies (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other amortization	$ 6,795	$ 4,667	[1]	$ 7,958	[1]
Increase (decrease) in deferred income taxes	103,916	80,399	[1]	90,848	[1]
Share-based compensation expense	9,287	7,780	[1]	6,698	[1]
Increase (decrease) in accounts, interest and dividends payable	(67,189)	12,406	[1]	5,497	[1]
Change in prepaid and accrued income taxes and utility revenue taxes	(39,091)	(19,406)	[1]	21,079	[1]
Change in other assets and liabilities	(94,966)	(11,696)	[1]	(102,275)	[1]
Net cash provided by operating activities	325,420	361,568	[1]	278,934	[1]
Capital expenditures	(364,826)	(389,438)	[1]	(370,715)	[1]
Cash flows from investing activities-Other	1,125	1,177	[1]	1,778	[1]
Net cash used in investing activities	(592,449)	(598,182)	[1]	(471,439)	[1]
Federal current taxes	(10,970)	(1,520)		(15,411)
Federal deferred taxes	91,159	73,680		82,138
Additions to electric utility property, plant and equipment - unpaid invoices and other (investing)/______________________________ (in millions)	43,000	(12,000)		(8,000)
Hawaiian Electric Company, Inc. and Subsidiaries
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other amortization	6,410	5,077	[1]	6,998	[1]
Increase (decrease) in accounts payable	(65,527)	14,731	[1]	6,322	[1]
Increase (decrease) in deferred income taxes	82,947	64,507	[1]	86,878	[1]
Change in prepaid and accrued income taxes and utility revenue taxes	(4,036)	(2,028)	[1]	25,239	[1]
Change in other assets and liabilities	(62,442)	(32,636)	[1]	(74,262)	[1]
Net cash provided by operating activities	306,995	326,865	[1]	221,623	[1]
Capital expenditures	(336,679)	(378,044)	[1]	(355,326)	[1]
Cash flows from investing activities-Other	1,164	907	[1]	843	[1]
Net cash used in investing activities	(293,709)	(344,977)	[1]	(308,501)	[1]
Federal current taxes	1,108	1,313		(26,965)
Federal deferred taxes	68,775	58,024		79,437
Additions to electric utility property, plant and equipment - unpaid invoices and other (investing)/______________________________ (in millions)	40,000	(12,000)		(8,000)
As previously filed
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other amortization	8,476
Increase (decrease) in deferred income taxes	59,184
Share-based compensation expense	0	0		0
Increase (decrease) in accounts, interest and dividends payable	(92,294)	(23,153)		(39,738)
Change in prepaid and accrued income taxes and utility revenue taxes	12,845
Change in other assets and liabilities	(93,400)	(2,779)		(94,734)
Net cash provided by operating activities	301,479	327,146		234,542
Capital expenditures	(339,721)	(353,879)		(325,480)
Cash flows from investing activities-Other	(39)	40		935
Net cash used in investing activities	(568,508)	(563,760)		(427,047)
Federal current taxes	33,762
Federal deferred taxes	46,427
Additions to electric utility property, plant and equipment - unpaid invoices and other (investing)/______________________________ (in millions)	68,000	24,000		37,000
As previously filed | Hawaiian Electric Company, Inc. and Subsidiaries
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other amortization	8,091
Increase (decrease) in accounts payable	(90,632)	(20,828)		(38,913)
Change in other assets and liabilities	(62,959)	(31,499)		(73,419)
Net cash provided by operating activities	283,054	292,443		177,231
Capital expenditures	(311,574)	(342,485)		(310,091)
Cash flows from investing activities-Other	0	(230)		0
Net cash used in investing activities	(269,768)	(310,555)		(264,109)
Additions to electric utility property, plant and equipment - unpaid invoices and other (investing)/______________________________ (in millions)	65,000	24,000		37,000
Difference
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other amortization	(1,681)
Increase (decrease) in deferred income taxes	44,732
Share-based compensation expense	9,287	7,780		6,698
Increase (decrease) in accounts, interest and dividends payable	25,105	35,559		45,235
Change in prepaid and accrued income taxes and utility revenue taxes	(51,936)
Change in other assets and liabilities	(1,566)	(8,917)		(7,541)
Net cash provided by operating activities	23,941	34,422		44,392
Capital expenditures	(25,105)	(35,559)		(45,235)
Cash flows from investing activities-Other	1,164	1,137		843
Net cash used in investing activities	(23,941)	(34,422)		(44,392)
Federal current taxes	(44,732)
Federal deferred taxes	44,732
Additions to electric utility property, plant and equipment - unpaid invoices and other (investing)/______________________________ (in millions)	(25,000)	(36,000)		(45,000)
Difference | Hawaiian Electric Company, Inc. and Subsidiaries
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other amortization	(1,681)
Increase (decrease) in accounts payable	25,105	35,559		45,235
Change in other assets and liabilities	517	(1,137)		(843)
Net cash provided by operating activities	23,941	34,422		44,392
Capital expenditures	(25,105)	(35,559)		(45,235)
Cash flows from investing activities-Other	1,164	1,137		843
Net cash used in investing activities	(23,941)	(34,422)		(44,392)
Additions to electric utility property, plant and equipment - unpaid invoices and other (investing)/______________________________ (in millions)	$ (25,000)	$ (36,000)		$ (45,000)
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Proposed merger (Details)

Proposed merger (Details)	Dec. 03, 2014USD ($)$ / sharesshares	Jan. 31, 2015USD ($)	Dec. 31, 2014complaint
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
Subsequent event | NextEra Energy, Inc Merger
Business Acquisition [Line Items]
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
Hawaiian Electric Company, Inc. and Subsidiaries | NextEra Energy, Inc Merger
Business Acquisition [Line Items]
Special dividend | $ / shares	$ 0.50

Segment financial information50

Segment financial information (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Sep. 30, 2013USD ($)	Jun. 30, 2013USD ($)	Mar. 31, 2013USD ($)	Dec. 31, 2014USD ($)entity	Dec. 31, 2013USD ($)		Dec. 31, 2012USD ($)
Segment financial information
Revenues	$ 790,040	$ 867,096	$ 798,657	$ 783,749	$ 832,503	$ 829,168	$ 794,567	$ 782,232	$ 3,239,542	$ 3,238,470		$ 3,374,995
Depreciation and amortization									179,557	164,728		158,347
Interest expense									87,160	85,556		89,443
Income (loss) before income taxes									261,922	247,747		217,407
Income taxes (benefit)									91,712	84,341		76,859
Net income	33,630	48,286	41,894	46,400	39,486	48,707	41,061	34,152	170,210	163,406	[1]	140,548	[1]
Preferred stock dividends of subsidiaries									1,890	1,890		1,890
Net income for common stock	33,157	$ 47,815	$ 41,421	$ 45,927	39,013	$ 48,236	$ 40,588	$ 33,679	168,320	161,516		138,658
Capital expenditures									364,826	389,438	[1]	370,715	[1]
Assets	11,184,161				10,340,044				$ 11,184,161	10,340,044		10,149,132
Electric utility
Segment financial information
Number of entities involved | entity									3
Revenues									$ 2,987,323	2,980,172		3,109,439
Depreciation and amortization									172,797	159,102		151,496
Interest expense									64,757	59,279		62,055
Income (loss) before income taxes									220,361	194,041		162,319
Income taxes (benefit)									80,725	69,117		61,048
Net income									139,636	124,924		101,271
Preferred stock dividends of subsidiaries									1,995	1,995		1,995
Net income for common stock									137,641	122,929		99,276
Capital expenditures									336,679	378,044		355,326
Assets	5,590,457				5,087,129				5,590,457	5,087,129		5,108,793
Bank
Segment financial information
Revenues									252,497	258,147		265,539
Depreciation and amortization									5,399	4,230		5,334
Interest expense									10,808	10,077		11,292
Income (loss) before income taxes									75,619	87,059		89,021
Income taxes (benefit)									24,127	29,525		30,384
Net income									51,492	57,534		58,637
Preferred stock dividends of subsidiaries									0	0		0
Net income for common stock									51,492	57,534		58,637
Capital expenditures									28,073	11,193		14,979
Assets	5,565,241				5,243,824				5,565,241	5,243,824		5,041,673
Other
Segment financial information
Revenues									(278)	151		17
Depreciation and amortization									1,361	1,396		1,517
Interest expense									11,595	16,200		16,096
Income (loss) before income taxes									(34,058)	(33,353)		(33,933)
Income taxes (benefit)									(13,140)	(14,301)		(14,573)
Net income									(20,918)	(19,052)		(19,360)
Preferred stock dividends of subsidiaries									(105)	(105)		(105)
Net income for common stock									(20,813)	(18,947)		(19,255)
Capital expenditures									74	201		410
Assets	$ 28,463				$ 9,091				28,463	9,091		(1,334)
Operating Segments
Segment financial information
Revenues									3,239,542	3,238,470		3,374,995
Operating Segments | Electric utility
Segment financial information
Revenues									2,987,299	2,980,139		3,109,353
Operating Segments | Bank
Segment financial information
Revenues									252,497	258,147		265,539
Operating Segments | Other
Segment financial information
Revenues									(254)	184		103
Intersegment eliminations
Segment financial information
Revenues									0	0		0
Intersegment eliminations | Electric utility
Segment financial information
Revenues									24	33		86
Intersegment eliminations | Bank
Segment financial information
Revenues									0	0		0
Intersegment eliminations | Other
Segment financial information
Revenues									$ (24)	$ (33)		$ (86)
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Electric utility segment Regula

Electric utility segment Regulatory Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Regulatory assets
Regulatory assets	$ 905,264	$ 575,924
Regulatory liabilities
Regulatory liabilities	344,849	349,299
Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory assets
Regulatory assets	905,264	575,924
Regulatory liabilities
Regulatory liabilities	344,849	349,299
Hawaiian Electric Company, Inc. and Subsidiaries | Cost of removal in excess of salvage value
Regulatory liabilities
Regulatory liabilities	331,000	315,164
Hawaiian Electric Company, Inc. and Subsidiaries | Retirement benefit plans, regulatory liabilities
Regulatory liabilities
Regulatory liabilities	$ 12,413	31,546
Authorized amortization or recovery periods	5 years
Hawaiian Electric Company, Inc. and Subsidiaries | Other, regulatory liabilities
Regulatory liabilities
Regulatory liabilities	$ 1,436	2,589
Authorized amortization or recovery periods	5 years
Hawaiian Electric Company, Inc. and Subsidiaries | Retirement benefit plans, regulatory assets
Regulatory assets
Regulatory assets	$ 683,243	350,821
Hawaiian Electric Company, Inc. and Subsidiaries | Income taxes, net
Regulatory assets
Regulatory assets	86,836	85,430
Hawaiian Electric Company, Inc. and Subsidiaries | Decoupling revenue balancing account
Regulatory assets
Regulatory assets	80,183	90,386
Hawaiian Electric Company, Inc. and Subsidiaries | Unamortized expense and premiums on retired debt and equity issuances
Regulatory assets
Regulatory assets	15,569	17,342
Hawaiian Electric Company, Inc. and Subsidiaries | Vacation earned, but not yet taken
Regulatory assets
Regulatory assets	$ 10,248	9,149
Authorized amortization or recovery periods	1 year
Hawaiian Electric Company, Inc. and Subsidiaries | Postretirement benefits other than pensions
Regulatory assets
Regulatory assets	$ 18	62
Authorized amortization or recovery periods	18 years
Remaining amortization or recovery periods	1 year
Hawaiian Electric Company, Inc. and Subsidiaries | Other, regulatory assets
Regulatory assets
Regulatory assets	$ 29,167	22,734
Hawaiian Electric Company, Inc. and Subsidiaries | Maximum | Cost of removal in excess of salvage value
Regulatory liabilities
Authorized amortization or recovery periods	60 years
Hawaiian Electric Company, Inc. and Subsidiaries | Maximum | Other, regulatory liabilities
Regulatory liabilities
Remaining amortization or recovery periods	2 years
Hawaiian Electric Company, Inc. and Subsidiaries | Maximum | Income taxes, net
Regulatory assets
Authorized amortization or recovery periods	55 years
Hawaiian Electric Company, Inc. and Subsidiaries | Maximum | Decoupling revenue balancing account
Regulatory assets
Authorized amortization or recovery periods	2 years
Hawaiian Electric Company, Inc. and Subsidiaries | Maximum | Unamortized expense and premiums on retired debt and equity issuances
Regulatory assets
Authorized amortization or recovery periods	30 years
Remaining amortization or recovery periods	18 years
Hawaiian Electric Company, Inc. and Subsidiaries | Maximum | Other, regulatory assets
Regulatory assets
Authorized amortization or recovery periods	50 years
Remaining amortization or recovery periods	46 years
Hawaiian Electric Company, Inc. and Subsidiaries | Minimum | Cost of removal in excess of salvage value
Regulatory liabilities
Authorized amortization or recovery periods	1 year
Hawaiian Electric Company, Inc. and Subsidiaries | Minimum | Other, regulatory liabilities
Regulatory liabilities
Remaining amortization or recovery periods	1 year
Hawaiian Electric Company, Inc. and Subsidiaries | Minimum | Income taxes, net
Regulatory assets
Authorized amortization or recovery periods	1 year
Hawaiian Electric Company, Inc. and Subsidiaries | Minimum | Decoupling revenue balancing account
Regulatory assets
Authorized amortization or recovery periods	1 year
Hawaiian Electric Company, Inc. and Subsidiaries | Minimum | Unamortized expense and premiums on retired debt and equity issuances
Regulatory assets
Authorized amortization or recovery periods	19 years
Remaining amortization or recovery periods	6 years
Hawaiian Electric Company, Inc. and Subsidiaries | Minimum | Other, regulatory assets
Regulatory assets
Authorized amortization or recovery periods	1 year
Remaining amortization or recovery periods	1 year
Hawaiian Electric Company, Inc. and Subsidiaries | Current assets
Regulatory assets
Regulatory assets	$ 71,421	69,738
Hawaiian Electric Company, Inc. and Subsidiaries | Long-term assets
Regulatory assets
Regulatory assets	833,843	506,186
Hawaiian Electric Company, Inc. and Subsidiaries | Current liabilities
Regulatory liabilities
Regulatory liabilities	632	1,916
Hawaiian Electric Company, Inc. and Subsidiaries | Long-term liabilities
Regulatory liabilities
Regulatory liabilities	$ 344,217	$ 347,383

Electric utility segment Additi

Electric utility segment Additional Information (Details)	Dec. 30, 2014	Jun. 30, 2014	Jul. 11, 2013MW	May. 31, 2013USD ($)	Nov. 30, 2013USD ($)	Feb. 28, 2013bid	May. 31, 2012MW	Mar. 31, 2012USD ($)	Feb. 28, 2012USD ($)	Dec. 31, 2009	Nov. 30, 2013USD ($)	Jun. 30, 2013USD ($)	Dec. 31, 2011USD ($)	Dec. 31, 2014USD ($)agreementMW	Dec. 31, 2013USD ($)MW	Dec. 31, 2012USD ($)	Jul. 31, 2014USD ($)	Feb. 07, 2014	Feb. 16, 2012generation_unit
Power purchase agreements
Number of power purchase agreements (PPAs) | agreement														7
Hawaiian Electric Company, Inc (HECO)
Power purchase agreements
Number of power purchase agreements (PPAs) | agreement														7
Purchased power														$ 537,821,000	$ 527,839,000	$ 540,802,000
Renewable projects
Number of Generating Units Subject to New Regulation | generation_unit																			14
D&O
Revenues														2,142,245,000	2,124,174,000	2,228,233,000
Hawaii Electric Light Company, Inc. (HELCO)
Power purchase agreements
Purchased power														123,226,000	128,368,000	145,386,000
D&O
Revenues														422,200,000	431,517,000	441,013,000
Maui Electric Company, Limited (MECO)
Power purchase agreements
Purchased power														60,961,000	54,474,000	38,052,000
Environmental regulation
Additional accrued investigation and estimated cleanup costs								$ 3,100,000						3,600,000
D&O
Revenues				$ 5,300,000										422,965,000	424,603,000	440,270,000
Reductions in D&O
Lower ROACE															4,000,000
Customer Information System expenses															300,000
Pension and OPEB expense based on 3-year average															1,500,000
Integrated resource planning expenses															900,000
Operational and Renewable Energy Integration study costs															1,100,000
Total adjustment														$ 7,800,000	7,800,000
Stipulated return on common equity percentage														10.00%
Return on common equity percentage approved by PUC														9.00%
Return on common equity percentage approved by PUC allocated to lower interest rate														0.50%
Return on common equity percentage approved by PUC allocated for OverCurtailment of renewable energy														0.50%
Period as basis for calculation of average pension cost														3 years
Charge recorded net of revenue taxes												$ 7,600,000
Amount to be refunded to customers											$ 9,700,000
Increase (decrease) in employee benefit expenses												(1,800,000)
Deferred IRP cost allowed by PUC order, reclassified to deferred accounts												$ 700,000
General Rate Case Cycle Period	3 years
Estimated increase in revenue, if base rate increased														$ 11,600,000
Estimated increase in revenue, if base rate increased, percentage														2.80%
Estimated cost of common equity, percentage														10.75%
Hawaiian Electric Company, Inc. and Subsidiaries
Fuel contracts
Estimated cost of minimum purchase within 2015 year														$ 400,000,000
Estimated cost of minimum purchase in 2016 year														300,000,000
Estimated cost of minimum purchase in 2017 year														6,400,000
Cost of purchases														$ 1,100,000,000	1,100,000,000	1,300,000,000
Power purchase agreements
Power purchase capacity excluding agreements with smaller IPPs (in megawatts) | MW														575
Purchased power														$ 722,008,000	$ 710,681,000	724,240,000
Expected fixed capacity charges per year for 2015 through 2019, minimum														100,000,000
Expected fixed capacity charges from 2019 through 2033														500,000,000
Renewable projects
Percentage of renewable portfolio standard to be achieved by 2030										40.00%
Recovery of annual deferred costs contingent on approval					$ 405,000
Integration from renewable energy sources (in megawatts) | MW			200												200
Maximum deferred cost recovery									$ 5,890,000
Integration from firm renewable geothermal dispatchable energy (in megawatts) | MW							50
Number of bids received | bid						6
Environmental regulation
Percentage of reduction in GHG emissions by 2020		16.00%
Estimated annual fee, emissions regulation														500,000
D&O
Revenues														2,987,323,000	$ 2,980,172,000	3,109,439,000
Changes in the asset retirement obligation liability
Balance at the beginning of the period														43,106,000	48,431,000
Accretion expense														890,000	1,263,000
Liabilities incurred														0	0
Liabilities settled														(14,577,000)	(5,672,000)
Revisions in estimated cash flows														0	(916,000)
Balance at the end of the period														29,419,000	$ 43,106,000	$ 48,431,000
Decoupling
Public Utilities, baseline capital project value to determine revenue adjustment														$ 2,500,000
Public Utilities, proposed rate base adjustment, percent of previous rate base adjustment																		90.00%
Public Utilites, effective interest rate, revenue balancing account														6.00%
Hawaiian Electric Company, Inc. and Subsidiaries | Minimum
Decoupling
Public Utilities, proposed effective interest rate, revenue balancing account																		1.25%
Hawaiian Electric Company, Inc. and Subsidiaries | Maximum
Decoupling
Public Utilities, proposed effective interest rate, revenue balancing account																		3.25%
East Oahu Transmission Project Phase 1 | Hawaiian Electric Company, Inc. and Subsidiaries
Renewable projects
Gross plant cost agreed to be written-off in lieu of regulatory audit								9,500,000
After-tax charge to net income due to settlement agreement													$ 6,000,000
Additional increase in test year rate case								$ 5,000,000
Reserve for environmental costs
Environmental regulation
Reserve for additional investigation																	$ 800,000

Electric utility segment Major

Electric utility segment Major Customers (Details) - Operating revenues - Customer concentration - Various federal government agencies - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Major customers
Operating revenues percentage	12.00%	11.00%	11.00%
Operating revenues amount	$ 350	$ 340	$ 349

Electric utility segment Cumula

Electric utility segment Cumulative Preferred Stock (Details)	Dec. 31, 2014$ / shares
HECO | Multiple Series Preferred Stock
Class of Stock [Line Items]
Preferred Stock Voluntary Liquidation Preference	$ 20
Preferred Stock, Redemption Price Per Share	21
HECO | Series I Preferred Stock
Class of Stock [Line Items]
Preferred Stock Voluntary Liquidation Preference	20
Preferred Stock, Redemption Price Per Share	20
Hawaii Electric Light Company, Inc. (HELCO) | Series G Preferred Stock
Class of Stock [Line Items]
Preferred Stock Voluntary Liquidation Preference	100
Preferred Stock, Redemption Price Per Share	100
MECO | Series H Preferred Stock
Class of Stock [Line Items]
Preferred Stock Voluntary Liquidation Preference	100
Preferred Stock, Redemption Price Per Share	$ 100

Electric utility segment Relate

Electric utility segment Related-Party Transactions (Details) - Hawaiian Electric Industries, Inc. - HECO - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Related Party Transaction [Line Items]
Amount charged to subsidiaries for general management and administrative services	$ 7	$ 6.2	$ 6.1
Effective interest rate basis term	30 days
Line of credit facility basis point spread (as a percent)	0.15%

Electric utility segment 2014 A

Electric utility segment 2014 Agreement (Details) $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2014order	Dec. 31, 2012USD ($)	Jan. 28, 2013USD ($)
Regulatory projects and legal obligations
Remaining recoverable project costs included in rate base, in accordance with the settlement agreement		$ 52
Number of orders from regulatory agency | order	4
Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory projects and legal obligations
Period to file required plan	120 days
Reliability standards, regulatory filing period	120 days
Period to file implementation plan	60 days
Period for full implementation of plan	180 days
Period to file action plan	30 days
Period to file implementation proposal	120 days
Regulatory response filing period	90 days
Hawaiian Electric Company, Inc. and Subsidiaries | CIS project
Regulatory projects and legal obligations
Project costs to be written off, subject to approval by PUC			$ 40
After-tax charge to net income due to write-off of project costs		24
HECO | CIS project
Regulatory projects and legal obligations
After-tax charge to net income due to write-off of project costs		17.1
HELCO | CIS project
Regulatory projects and legal obligations
After-tax charge to net income due to write-off of project costs		3.4
MECO
Regulatory projects and legal obligations
Program and system information protocol, filing period	120 days
MECO | CIS project
Regulatory projects and legal obligations
After-tax charge to net income due to write-off of project costs		$ 3.2

Electric utility segment Liquef

Electric utility segment Liquefied Natural Gas (Details)	1 Months Ended
	Aug. 31, 2014t
Electric utility subsidiary [Abstract]
Term Of Agreement	15 years
Liquefaction capacity annual purchases, first tranche	800,000
Purchase agreement, period of first tranche	5 years
Liquefaction capacity annual purchases, second tranche	700,000
Purchase agreement, period of second tranche	5 years
Liquefaction capacity annual purchases, third tranche	600,000
Purchase agreement, period of third tranche	5 years

Electric utility segment Consol

Electric utility segment Consolidating Statement of Income (Details) - USD ($) $ in Thousands	May. 31, 2013	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012
Expenses
Total expenses										$ 2,910,618	$ 2,923,051		$ 3,090,799
Total operating income		$ 67,241	$ 91,102	$ 82,275	$ 88,306	$ 78,349	$ 88,038	$ 80,207	$ 68,825	328,924	315,419		284,196
Allowance for equity funds used during construction										6,771	5,561	[1]	7,007	[1]
Allowance for borrowed funds used during construction										2,579	2,246		4,355
Income before income taxes										261,922	247,747		217,407
Income taxes										91,712	84,341		76,859
Net income		33,630	48,286	41,894	46,400	39,486	48,707	41,061	34,152	170,210	163,406	[1]	140,548	[1]
Preferred stock dividends of subsidiaries										1,890	1,890		1,890
Net income for common stock		33,157	47,815	41,421	45,927	39,013	48,236	40,588	33,679	168,320	161,516		138,658
HECO
Revenues										2,142,245	2,124,174		2,228,233
Expenses
Fuel oil										821,246	851,365		945,246
Purchased power										537,821	527,839		540,802
Other operation and maintenance										283,532	283,768		266,208
Depreciation										109,204	99,738		90,783
Taxes, other than income taxes										201,426	200,962		209,943
Impairment of utility assets											0		29,000
Total expenses										1,953,229	1,963,672		2,081,982
Total operating income										189,016	160,502		146,251
Allowance for equity funds used during construction										6,085	4,495		5,735
Equity in earnings of subsidiaries										40,964	41,410		28,836
Interest expense and other charges, net										(44,041)	(39,107)		(40,842)
Allowance for borrowed funds used during construction										2,306	1,814		3,642
Income before income taxes										194,330	169,114		143,622
Income taxes										55,609	45,105		43,266
Net income										138,721	124,009		100,356
Net income attributable to Hawaiian Electric										138,721	124,009		100,356
Preferred stock dividends of Hawaiian Electric										1,080	1,080		1,080
Net income for common stock										137,641	122,929		99,276
HELCO
Revenues										422,200	431,517		441,013
Expenses
Fuel oil										117,215	125,516		116,866
Purchased power										123,226	128,368		145,386
Other operation and maintenance										65,471	61,418		60,447
Depreciation										35,904	34,188		33,337
Taxes, other than income taxes										39,521	40,092		41,370
Impairment of utility assets											0		5,500
Total expenses										381,337	389,582		402,906
Total operating income										40,863	41,935		38,107
Allowance for equity funds used during construction										472	643		585
Interest expense and other charges, net										(11,030)	(11,341)		(12,066)
Allowance for borrowed funds used during construction										182	263		235
Income before income taxes										30,487	31,500		26,861
Income taxes										11,264	10,830		10,115
Net income										19,223	20,670		16,746
Preferred stock dividends of subsidiaries										534	534		534
Net income attributable to Hawaiian Electric										18,689	20,136		16,212
Net income for common stock										18,689	20,136		16,212
MECO
Revenues	$ 5,300									422,965	424,603		440,270
Expenses
Fuel oil										193,224	208,671		235,307
Purchased power										60,961	54,474		38,052
Other operation and maintenance										61,609	58,081		70,771
Depreciation										21,279	20,099		20,378
Taxes, other than income taxes										39,916	40,077		41,528
Impairment of utility assets											0		5,500
Total expenses										376,989	381,402		411,536
Total operating income										45,976	43,201		28,734
Allowance for equity funds used during construction										214	423		687
Interest expense and other charges, net										(9,773)	(8,953)		(9,224)
Allowance for borrowed funds used during construction										91	169		478
Income before income taxes										36,508	34,840		20,675
Income taxes										13,852	13,182		7,667
Net income										22,656	21,658		13,008
Preferred stock dividends of subsidiaries										381	381		381
Net income attributable to Hawaiian Electric										22,275	21,277		12,627
Net income for common stock										22,275	21,277		12,627
Other subsidiaries
Revenues										0
Expenses
Other operation and maintenance										0	3		3
Total expenses										0	3		3
Total operating income										0	(3)		(3)
Income before income taxes										0	(3)		(3)
Income taxes										0
Net income										0	(3)		(3)
Net income attributable to Hawaiian Electric										0	(3)		(3)
Net income for common stock										0	(3)		(3)
Consolidating adjustments
Revenues										(87)	(122)		(77)
Expenses
Total operating income										(87)	(122)		(77)
Equity in earnings of subsidiaries										(40,964)	(41,410)		(28,836)
Interest expense and other charges, net										87	122		77
Income before income taxes										(40,964)	(41,410)		(28,836)
Income taxes										0
Net income										(40,964)	(41,410)		(28,836)
Net income attributable to Hawaiian Electric										(40,964)	(41,410)		(28,836)
Net income for common stock										(40,964)	(41,410)		(28,836)
HECO Consolidated
Revenues										2,987,323	2,980,172		3,109,439
Expenses
Fuel oil										1,131,685	1,185,552		1,297,419
Purchased power										722,008	710,681		724,240
Other operation and maintenance										410,612	403,270		397,429
Depreciation										166,387	154,025		144,498
Taxes, other than income taxes										280,863	281,131		292,841
Impairment of utility assets										0	0		40,000
Total expenses										2,711,555	2,734,659		2,896,427
Total operating income		58,878	76,156	70,068	70,666	65,564	69,853	58,975	51,121	275,768	245,513		213,012
Allowance for equity funds used during construction										6,771	5,561	[1]	7,007	[1]
Interest expense and other charges, net										(64,757)	(59,279)		(62,055)
Allowance for borrowed funds used during construction										2,579	2,246		4,355
Income before income taxes										220,361	194,041		162,319
Income taxes										80,725	69,117		61,048
Net income		29,611	39,377	34,729	35,919	32,489	38,315	29,192	24,928	139,636	124,924	[1]	101,271	[1]
Preferred stock dividends of subsidiaries										915	915		915
Net income attributable to Hawaiian Electric										138,721	124,009		100,356
Preferred stock dividends of Hawaiian Electric										1,080	1,080		1,080
Net income for common stock		$ 29,112	$ 38,879	$ 34,230	$ 35,420	$ 31,990	$ 37,817	$ 28,693	$ 24,429	$ 137,641	$ 122,929		$ 99,276
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Electric utility segment Cons59

Electric utility segment Consolidating Statement of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net income for common stock	$ 33,157	$ 47,815	$ 41,421	$ 45,927	$ 39,013	$ 48,236	$ 40,588	$ 33,679	$ 168,320	$ 161,516	$ 138,658
Net gains (losses) arising during the period, net of (taxes) benefits									(234,166)	223,177	(99,159)
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits									11,344	23,280	15,291
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes									207,833	(222,595)	75,471
Other comprehensive income (loss), net of taxes									(10,628)	9,673	(7,286)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.									157,692	171,189	131,372
HECO
Net income for common stock									137,641	122,929	99,276
Net gains (losses) arising during the period, net of (taxes) benefits									(218,608)	203,479	(90,082)
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits									10,212	20,694	13,673
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes									207,833	(222,595)	75,471
Other comprehensive income (loss), net of taxes									(563)	1,578	(938)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.									137,078	124,507	98,338
HELCO
Net income for common stock									18,689	20,136	16,212
Net gains (losses) arising during the period, net of (taxes) benefits									(28,725)	30,542	(13,577)
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits									1,270	2,880	2,101
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes									27,437	(33,277)	11,442
Other comprehensive income (loss), net of taxes									(18)	145	(34)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.									18,671	20,281	16,178
MECO
Net income for common stock									22,275	21,277	12,627
Net gains (losses) arising during the period, net of (taxes) benefits									(29,352)	27,820	(10,935)
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits									1,090	2,557	1,771
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes									28,257	(30,254)	9,093
Other comprehensive income (loss), net of taxes									(5)	123	(71)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.									22,270	21,400	12,556
Other subsidiaries
Net income for common stock									0	(3)	(3)
Net gains (losses) arising during the period, net of (taxes) benefits											0
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits											0
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes											0
Other comprehensive income (loss), net of taxes											0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.									0	(3)	(3)
Consolidating adjustments
Net income for common stock									(40,964)	(41,410)	(28,836)
Net gains (losses) arising during the period, net of (taxes) benefits									58,077	(58,362)	24,512
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits									(2,360)	(5,437)	(3,872)
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes									(55,694)	63,531	(20,535)
Other comprehensive income (loss), net of taxes									23	(268)	105
Comprehensive income attributable to Hawaiian Electric Industries, Inc.									(40,941)	(41,678)	(28,731)
HECO Consolidated
Net income for common stock	$ 29,112	$ 38,879	$ 34,230	$ 35,420	$ 31,990	$ 37,817	$ 28,693	$ 24,429	137,641	122,929	99,276
Net gains (losses) arising during the period, net of (taxes) benefits									(218,608)	203,479	(90,082)
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits									10,212	20,694	13,673
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes									207,833	(222,595)	75,471
Other comprehensive income (loss), net of taxes									(563)	1,578	(938)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.									$ 137,078	$ 124,507	$ 98,338

Electric utility segment Cons60

Electric utility segment Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011		Dec. 31, 2007
Utility property, plant and equipment
Property, plant and equipment, net	$ 4,148,774	$ 3,865,514
Other long-term assets
Total assets	11,184,161	10,340,044
Capitalization
Common stock equity	1,791,428	1,727,070		$ 1,593,865		$ 1,528,706
Cumulative preferred stock-not subject to mandatory redemption	0	0
Current liabilities
Interest and dividends payable	25,336	26,716
Deferred credits and other liabilities
Deferred income taxes	631,734	529,260
Contributions in aid of construction	466,432	432,894
Total liabilities and shareholders' equity	11,184,161	10,340,044
HECO
Utility property, plant and equipment
Land	43,819	43,407
Plant and equipment	3,782,438	3,558,569
Less accumulated depreciation	(1,253,866)	(1,222,129)
Construction in progress	134,376	124,494
Utility property, plant and equipment, net	2,706,767	2,504,341
Nonutility property, plant and equipment, less accumulated depreciation	4,950	4,953
Property, plant and equipment, net	2,711,717	2,509,294
Investment in wholly-owned subsidiaries, at equity	538,639	523,674
Current assets
Cash and cash equivalents	12,416	61,245		8,265		44,819
Advances to affiliates	16,100	6,839
Customer accounts receivable, net	111,462	121,282
Accrued unbilled revenues, net	103,072	107,752
Other accounts receivable, net	9,980	16,373
Fuel oil stock, at average cost	74,515	99,613
Materials and supplies, at average cost	33,154	37,377
Prepayments and other	44,680	29,798
Regulatory assets	58,550	54,979
Total current assets	463,929	535,258
Other long-term assets
Regulatory assets	623,784	381,346
Unamortized debt expense	5,640	6,051
Other	53,106	42,163
Total other long-term assets	682,530	429,560
Total assets	4,396,815	3,997,786
Capitalization
Common stock equity	1,682,144	1,593,564		1,472,136		1,402,841
Cumulative preferred stock-not subject to mandatory redemption	22,293	22,293
Long-term debt, net	830,546	830,547
Total capitalization	2,534,983	2,446,404
Current liabilities
Current portion of long-term debt	0
Short-term borrowings-affiliate	0	1,000
Accounts payable	122,433	145,062
Interest and dividends payable	15,407	15,190
Taxes accrued	176,339	175,790
Regulatory liabilities	191	1,705
Other	48,282	48,443
Total current liabilities	362,652	387,190
Deferred credits and other liabilities
Deferred income taxes	429,515	359,621
Regulatory liabilities	236,727	235,786
Unamortized tax credits	49,865	44,931
Defined benefit pension and other postretirement benefit plans liability	446,888	202,396
Other	52,446	63,374
Total deferred credits and other liabilities	1,215,441	906,108
Contributions in aid of construction	283,739	258,084
Total liabilities and shareholders' equity	4,396,815	3,997,786
Consolidating adjustments
Utility property, plant and equipment
Nonutility property, plant and equipment, less accumulated depreciation	0
Investment in wholly-owned subsidiaries, at equity	(538,639)	(523,674)
Current assets
Advances to affiliates	(16,100)	(7,839)
Other accounts receivable, net	(8,924)	(9,027)
Prepayments and other	(475)	(1,415)
Total current assets	(25,499)	(18,281)
Other long-term assets
Regulatory assets	(183)
Total other long-term assets	(183)
Total assets	(564,321)	(541,955)
Capitalization
Common stock equity	(538,639)	(523,674)		(497,939)		(516,143)
Total capitalization	(538,639)	(523,674)
Current liabilities
Current portion of long-term debt	0
Short-term borrowings-affiliate	(16,100)	(7,839)
Interest and dividends payable	(11)	(8)
Taxes accrued	(292)	(1,415)
Regulatory liabilities		0
Other	(9,096)	(9,019)
Total current liabilities	(25,499)	(18,281)
Deferred credits and other liabilities
Regulatory liabilities	(183)	0
Total deferred credits and other liabilities	(183)
Total liabilities and shareholders' equity	(564,321)	(541,955)
HELCO
Utility property, plant and equipment
Land	5,464	5,460
Plant and equipment	1,179,032	1,136,923
Less accumulated depreciation	(473,933)	(453,721)
Construction in progress	12,421	7,709
Utility property, plant and equipment, net	722,984	696,371
Nonutility property, plant and equipment, less accumulated depreciation	82	82
Property, plant and equipment, net	723,066	696,453
Current assets
Cash and cash equivalents	612	1,326		5,441		3,383
Advances to affiliates	0	1,000
Customer accounts receivable, net	24,222	28,088
Accrued unbilled revenues, net	15,926	17,100
Other accounts receivable, net	981	4,265
Fuel oil stock, at average cost	13,800	14,178
Materials and supplies, at average cost	6,664	6,883
Prepayments and other	8,611	8,334
Regulatory assets	6,745	6,931
Total current assets	77,561	88,105
Other long-term assets
Regulatory assets	107,454	64,552						$ 12,800
Unamortized debt expense	1,438	1,580
Other	15,366	11,270
Total other long-term assets	124,258	77,402
Total assets	924,885	861,960
Capitalization
Common stock equity	281,846	274,802		268,908		280,468
Cumulative preferred stock-not subject to mandatory redemption	7,000	7,000
Long-term debt, net	190,000	189,998
Total capitalization	478,846	471,800
Current liabilities
Current portion of long-term debt	0	11,400
Short-term borrowings-affiliate	10,500
Accounts payable	23,728	24,383
Interest and dividends payable	3,989	3,885
Taxes accrued	37,548	37,899
Regulatory liabilities		0
Other	9,866	9,033
Total current liabilities	85,631	86,600
Deferred credits and other liabilities
Deferred income taxes	90,119	79,947
Regulatory liabilities	77,707	76,475
Unamortized tax credits	14,902	14,245
Defined benefit pension and other postretirement benefit plans liability	72,547	28,427
Other	10,658	14,703
Total deferred credits and other liabilities	265,933	213,797
Contributions in aid of construction	94,475	89,763
Total liabilities and shareholders' equity	924,885	861,960
MECO
Utility property, plant and equipment
Land	3,016	3,016
Plant and equipment	1,048,012	1,006,383
Less accumulated depreciation	(447,711)	(435,379)
Construction in progress	11,819	11,030
Utility property, plant and equipment, net	615,136	585,050
Nonutility property, plant and equipment, less accumulated depreciation	1,531	1,532
Property, plant and equipment, net	616,667	586,582
Current assets
Cash and cash equivalents	633	153		3,349		496
Advances to affiliates		0
Customer accounts receivable, net	22,800	26,078
Accrued unbilled revenues, net	18,376	19,272
Other accounts receivable, net	2,246	2,451
Fuel oil stock, at average cost	17,731	20,296
Materials and supplies, at average cost	17,432	14,784
Prepayments and other	13,567	16,140
Regulatory assets	6,126	7,828
Total current assets	98,911	107,002
Other long-term assets
Regulatory assets	102,788	60,288
Unamortized debt expense	1,245	1,372
Other	13,366	13,993
Total other long-term assets	117,399	75,653
Total assets	832,977	769,237
Capitalization
Common stock equity	256,692	248,771		228,927		235,568
Cumulative preferred stock-not subject to mandatory redemption	5,000	5,000
Long-term debt, net	186,000	186,000
Total capitalization	447,692	439,771
Current liabilities
Current portion of long-term debt	0
Short-term borrowings-affiliate	5,600	6,839
Accounts payable	17,773	20,114
Interest and dividends payable	2,931	2,585
Taxes accrued	36,807	37,171
Regulatory liabilities	441	211
Other	16,094	15,424
Total current liabilities	79,646	82,344
Deferred credits and other liabilities
Deferred income taxes	83,238	67,593
Regulatory liabilities	29,966	35,122
Unamortized tax credits	14,725	14,363
Defined benefit pension and other postretirement benefit plans liability	75,960	31,339
Other	13,532	13,658
Total deferred credits and other liabilities	217,421	162,075
Contributions in aid of construction	88,218	85,047
Total liabilities and shareholders' equity	832,977	769,237
HECO Consolidated
Utility property, plant and equipment
Land	52,299	51,883
Plant and equipment	6,009,482	5,701,875
Less accumulated depreciation	(2,175,510)	(2,111,229)
Construction in progress	158,616	143,233
Utility property, plant and equipment, net	4,044,887	3,785,762
Nonutility property, plant and equipment, less accumulated depreciation	6,563	6,567
Property, plant and equipment, net	4,051,450	3,792,329
Current assets
Cash and cash equivalents	13,762	62,825	[1]	17,159	[1]	48,806	[1]
Customer accounts receivable, net	158,484	175,448
Accrued unbilled revenues, net	137,374	144,124
Other accounts receivable, net	4,283	14,062
Fuel oil stock, at average cost	106,046	134,087
Materials and supplies, at average cost	57,250	59,044
Prepayments and other	66,383	52,857
Regulatory assets	71,421	69,738
Total current assets	615,003	712,185
Other long-term assets
Regulatory assets	833,843	506,186
Unamortized debt expense	8,323	9,003
Other	81,838	67,426
Total other long-term assets	924,004	582,615
Total assets	5,590,457	5,087,129
Capitalization
Common stock equity	1,682,144	1,593,564		1,472,136		1,402,841
Cumulative preferred stock-not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,206,546	1,206,545
Total capitalization	2,922,983	2,834,402
Current liabilities
Current portion of long-term debt	0	11,400
Accounts payable	163,934	189,559
Interest and dividends payable	22,316	21,652
Taxes accrued	250,402	249,445
Regulatory liabilities	632	1,916
Other	65,146	63,881
Total current liabilities	502,430	537,853
Deferred credits and other liabilities
Deferred income taxes	602,872	507,161
Regulatory liabilities	344,217	347,383
Unamortized tax credits	79,492	73,539
Defined benefit pension and other postretirement benefit plans liability	595,395	262,162
Other	76,636	91,735
Total deferred credits and other liabilities	1,698,612	1,281,980
Contributions in aid of construction	466,432	432,894
Total liabilities and shareholders' equity	5,590,457	5,087,129
Other subsidiaries
Current assets
Cash and cash equivalents	101	101		104		108
Total current assets	101	101
Other long-term assets
Total assets	101	101
Capitalization
Common stock equity	101	101		$ 104		$ 107
Total capitalization	101	101
Current liabilities
Other		0
Total current liabilities		0
Deferred credits and other liabilities
Total liabilities and shareholders' equity	$ 101	$ 101
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Electric utility segment Cons61

Electric utility segment Consolidating Statements of Changes in Common Stock Equity (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Beginning Balance				$ 1,727,070				$ 1,593,865	$ 1,727,070	$ 1,593,865	$ 1,528,706
Net income for common stock	$ 33,157	$ 47,815	$ 41,421	45,927	$ 39,013	$ 48,236	$ 40,588	33,679	168,320	161,516	138,658
Other comprehensive income (loss), net of tax benefits									(10,628)	9,673	(7,286)
Issuance of common stock, net of expenses									2,461	41,692	41,295
Common stock dividends									(126,505)	(122,626)	(120,150)
Ending Balance	1,791,428				1,727,070				1,791,428	1,727,070	1,593,865
HECO
Beginning Balance				1,593,564				1,472,136	1,593,564	1,472,136	1,402,841
Net income for common stock									137,641	122,929	99,276
Other comprehensive income (loss), net of tax benefits									(563)	1,578	(938)
Issuance of common stock, net of expenses									39,994	78,499	44,001
Common stock dividends									(88,492)	(81,578)	(73,044)
Ending Balance	1,682,144				1,593,564				1,682,144	1,593,564	1,472,136
HELCO
Beginning Balance				274,802				268,908	274,802	268,908	280,468
Net income for common stock									18,689	20,136	16,212
Other comprehensive income (loss), net of tax benefits									(18)	145	(34)
Issuance of common stock, net of expenses											0
Common stock dividends									(11,627)	(14,387)	(27,738)
Ending Balance	281,846				274,802				281,846	274,802	268,908
MECO
Beginning Balance				248,771				228,927	248,771	228,927	235,568
Net income for common stock									22,275	21,277	12,627
Other comprehensive income (loss), net of tax benefits									(5)	123	(71)
Issuance of common stock, net of expenses										12,461	0
Common stock dividends									(14,349)	(14,017)	(19,197)
Ending Balance	256,692				248,771				256,692	248,771	228,927
Other subsidiaries
Beginning Balance				101				104	101	104	107
Net income for common stock									0	(3)	(3)
Other comprehensive income (loss), net of tax benefits											0
Issuance of common stock, net of expenses											0
Ending Balance	101				101				101	101	104
Consolidating adjustments
Beginning Balance				(523,674)				(497,939)	(523,674)	(497,939)	(516,143)
Net income for common stock									(40,964)	(41,410)	(28,836)
Other comprehensive income (loss), net of tax benefits									23	(268)	105
Issuance of common stock, net of expenses										(12,461)	0
Common stock dividends									25,976	28,404	46,935
Ending Balance	(538,639)				(523,674)				(538,639)	(523,674)	(497,939)
HECO Consolidated
Beginning Balance				1,593,564				1,472,136	1,593,564	1,472,136	1,402,841
Net income for common stock	29,112	$ 38,879	$ 34,230	$ 35,420	31,990	$ 37,817	$ 28,693	$ 24,429	137,641	122,929	99,276
Other comprehensive income (loss), net of tax benefits									(563)	1,578	(938)
Issuance of common stock, net of expenses									39,994	78,499	44,001
Common stock dividends									(88,492)	(81,578)	(73,044)
Ending Balance	$ 1,682,144				$ 1,593,564				$ 1,682,144	$ 1,593,564	$ 1,472,136

Electric utility segment Cons62

Electric utility segment Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands		3 Months Ended									12 Months Ended
		Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013		Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012
Cash flows from operating activities
Net income (loss)		$ 33,630	$ 48,286	$ 41,894	$ 46,400	$ 39,486		$ 48,707	$ 41,061	$ 34,152	$ 170,210	$ 163,406	[1]	$ 140,548	[1]
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment											172,762	160,061	[1]	150,389	[1]
Other amortization											6,795	4,667	[1]	7,958	[1]
Impairment of utility plant											0	0	[1]	40,000	[1]
Increase (decrease) in deferred income taxes											103,916	80,399	[1]	90,848	[1]
Allowance for equity funds used during construction											(6,771)	(5,561)	[1]	(7,007)	[1]
Change in cash overdraft											(1,038)	1,038	[1]	0	[1]
Decrease (increase) in fuel oil stock											28,041	27,332	[1]	10,129	[1]
Increase in regulatory assets											(17,000)	(65,461)	[1]	(72,401)	[1]
Change in prepaid and accrued income taxes and utility revenue taxes											(39,091)	(19,406)	[1]	21,079	[1]
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability											22,251	(33,014)	[1]	(228)	[1]
Net cash provided by operating activities											325,420	361,568	[1]	278,934	[1]
Cash flows from investing activities
Capital expenditures											(364,826)	(389,438)	[1]	(370,715)	[1]
Contributions in aid of construction											41,806	32,160	[1]	45,982	[1]
Other											1,125	1,177	[1]	1,778	[1]
Net cash used in investing activities											(592,449)	(598,182)	[1]	(471,439)	[1]
Cash flows from financing activities
Common stock dividends											(126,458)	(98,383)	[1]	(96,202)	[1]
Proceeds from issuance of long-term debt											125,000	286,000	[1]	457,000	[1]
Proceeds from issuance of common stock											26,898	55,086	[1]	23,613	[1]
Repayment of long-term debt											(111,400)	(216,000)	[1]	(375,500)	[1]
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less											13,490	21,789	[1]	14,872	[1]
Other											(456)	(1,187)	[1]	(2,645)	[1]
Net cash provided by (used in) financing activities											222,535	236,988	[1]	141,902	[1]
Net increase (decrease) in cash and cash equivalents											(44,494)	374	[1]	(50,603)	[1]
As previously filed
Adjustments to reconcile net income to net cash provided by operating activities
Other amortization											8,476
Increase (decrease) in deferred income taxes											59,184
Change in prepaid and accrued income taxes and utility revenue taxes											12,845
Net cash provided by operating activities											301,479	327,146		234,542
Cash flows from investing activities
Capital expenditures											(339,721)	(353,879)		(325,480)
Other											(39)	40		935
Net cash used in investing activities											(568,508)	(563,760)		(427,047)
HECO
Cash flows from operating activities
Net income (loss)											138,721	124,009		100,356
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings											(41,064)	(41,510)		(28,936)
Common stock dividends received from subsidiaries											26,076	28,505		47,035
Depreciation of property, plant and equipment											109,204	99,738		90,783
Other amortization											1,749	554		1,508
Impairment of utility plant														29,000
Increase (decrease) in deferred income taxes											56,901	41,409		66,968
Change in tax credits, net											4,998	5,152		5,006
Allowance for equity funds used during construction											(6,085)	(4,495)		(5,735)
Decrease (increase) in accounts receivable											16,213	49,974		(48,451)
Decrease (increase) in accrued unbilled revenues											4,680	(7,152)		2,728
Decrease (increase) in fuel oil stock											25,098	23,563		4,861
Increase in materials and supplies											4,223	(5,598)		(6,683)
Increase in regulatory assets											(14,620)	(46,047)		(55,605)
Increase (decrease) in accounts payable											(56,044)	18,527		6,329
Change in prepaid and accrued income taxes and utility revenue taxes											(4,166)	4,632		19,871
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability											(562)	2,325		(434)
Changes in other assets and liabilities											(46,636)	(18,618)		(45,366)
Net cash provided by operating activities											218,686	274,968		183,235
Cash flows from investing activities
Capital expenditures											(237,970)	(262,562)		(271,864)
Contributions in aid of construction											30,021	21,686		32,285
Advances from affiliates											(9,261)	2,561		(9,400)
Other											604	677		486
Investment in consolidated subsidiary											0	(12,461)
Net cash used in investing activities											(216,606)	(250,099)		(248,493)
Cash flows from financing activities
Common stock dividends											(88,492)	(81,578)		(73,044)
Preferred stock dividends of Hawaiian Electric and subsidiaries											(1,080)	(1,080)		(1,080)
Proceeds from issuance of long-term debt											0	140,000		367,000
Proceeds from issuance of common stock											40,000	78,500		44,000
Repayment of long-term debt											0	(90,000)		(259,580)
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less											(1,000)	(17,050)		(46,600)
Other											(337)	(681)		(1,992)
Net cash provided by (used in) financing activities											(50,909)	28,111		28,704
Net increase (decrease) in cash and cash equivalents											(48,829)	52,980		(36,554)
Cash and cash equivalents, January 1					61,245					8,265	61,245	8,265		44,819
Cash and cash equivalents, December 31		12,416				61,245					12,416	61,245		8,265
HECO | As previously filed
Adjustments to reconcile net income to net cash provided by operating activities
Increase (decrease) in accounts payable											(74,276)	(6,136)		(31,743)
Changes in other assets and liabilities											(46,032)	(17,941)		(44,880)
Cash flows from investing activities
Capital expenditures											(219,738)	(237,899)		(233,792)
Other											0	0		0
HELCO
Cash flows from operating activities
Net income (loss)											19,223	20,670		16,746
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment											35,904	34,188		33,337
Other amortization											2,596	1,979		3,252
Impairment of utility plant														5,500
Increase (decrease) in deferred income taxes											12,083	10,569		7,457
Change in tax credits, net											680	818		522
Allowance for equity funds used during construction											(472)	(643)		(585)
Decrease (increase) in accounts receivable											7,150	(1,459)		(1,106)
Decrease (increase) in accrued unbilled revenues											1,174	(2,707)		4,106
Decrease (increase) in fuel oil stock											378	1,307		3,732
Increase in materials and supplies											219	(1,547)		(636)
Increase in regulatory assets											(3,357)	(9,237)		(9,649)
Increase (decrease) in accounts payable											(6,645)	1,525		(5,774)
Change in prepaid and accrued income taxes and utility revenue taxes											(3,251)	(4,114)		1,935
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability											0	(1)		(191)
Changes in other assets and liabilities											(12,577)	(6,513)		(11,335)
Net cash provided by operating activities											53,105	44,835		47,311
Cash flows from investing activities
Capital expenditures											(49,895)	(58,416)		(43,396)
Contributions in aid of construction											7,695	7,590		8,184
Advances from affiliates											1,000	17,050		28,100
Other											492	21		192
Net cash used in investing activities											(40,708)	(33,755)		(6,920)
Cash flows from financing activities
Common stock dividends											(11,627)	(14,388)		(27,738)
Preferred stock dividends of Hawaiian Electric and subsidiaries											(534)	(534)		(534)
Proceeds from issuance of long-term debt											0	56,000		31,000
Proceeds from issuance of common stock														0
Repayment of long-term debt											(11,400)	(56,000)		(41,200)
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less											10,500			0
Other											(50)	(273)		139
Net cash provided by (used in) financing activities											(13,111)	(15,195)		(38,333)
Net increase (decrease) in cash and cash equivalents											(714)	(4,115)		2,058
Cash and cash equivalents, January 1					1,326					5,441	1,326	5,441		3,383
Cash and cash equivalents, December 31		612				1,326					612	1,326		5,441
HELCO | As previously filed
Adjustments to reconcile net income to net cash provided by operating activities
Increase (decrease) in accounts payable											(8,490)	(4,756)		(8,110)
Changes in other assets and liabilities											(12,085)	(6,262)		(11,143)
Cash flows from investing activities
Capital expenditures											(48,050)	(52,135)		(41,060)
Other											0	(230)		0
MECO
Cash flows from operating activities
Net income (loss)											22,656	21,658		13,008
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment											21,279	20,099		20,378
Other amortization											2,065	2,544		2,238
Impairment of utility plant														5,500
Increase (decrease) in deferred income taxes											13,963	12,529		12,453
Change in tax credits, net											384	1,047		547
Allowance for equity funds used during construction											(214)	(423)		(687)
Change in cash overdraft											(1,038)	1,038
Decrease (increase) in accounts receivable											3,483	1,178		(2,164)
Decrease (increase) in accrued unbilled revenues											896	33		(3,306)
Decrease (increase) in fuel oil stock											2,565	2,462		1,536
Increase in materials and supplies											(2,648)	(814)		(578)
Increase in regulatory assets											977	(10,177)		(7,147)
Increase (decrease) in accounts payable											(2,838)	(5,321)		5,767
Change in prepaid and accrued income taxes and utility revenue taxes											3,381	(2,546)		3,433
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability											(399)	(84)		(119)
Changes in other assets and liabilities											(3,332)	(7,753)		(12,843)
Net cash provided by operating activities											61,180	35,470		38,016
Cash flows from investing activities
Capital expenditures											(48,814)	(57,066)		(40,066)
Contributions in aid of construction											4,090	2,884		5,513
Advances from affiliates											0	0		18,500
Other											68	209		165
Net cash used in investing activities											(44,656)	(53,973)		(15,888)
Cash flows from financing activities
Common stock dividends											(14,349)	(14,017)		(19,197)
Preferred stock dividends of Hawaiian Electric and subsidiaries											(381)	(381)		(381)
Proceeds from issuance of long-term debt											0	40,000		59,000
Proceeds from issuance of common stock											0	12,461		0
Repayment of long-term debt											0	(20,000)		(67,720)
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less											(1,239)	(2,561)		9,400
Other											(75)	(195)		(377)
Net cash provided by (used in) financing activities											(16,044)	15,307		(19,275)
Net increase (decrease) in cash and cash equivalents											480	(3,196)		2,853
Cash and cash equivalents, January 1					153					3,349	153	3,349		496
Cash and cash equivalents, December 31		633				153					633	153		3,349
MECO | As previously filed
Adjustments to reconcile net income to net cash provided by operating activities
Other amortization											3,746
Increase (decrease) in accounts payable											(7,866)	(9,936)		940
Changes in other assets and liabilities											(4,945)	(7,544)		(12,678)
Cash flows from investing activities
Capital expenditures											(43,786)	(52,451)		(35,239)
Other											0	0		0
Other subsidiaries
Cash flows from operating activities
Net income (loss)											0	(3)		(3)
Adjustments to reconcile net income to net cash provided by operating activities
Changes in other assets and liabilities											0	0		(1)
Net cash provided by operating activities											0	(3)		(4)
Cash flows from financing activities
Proceeds from issuance of common stock														0
Net cash provided by (used in) financing activities														0
Net increase (decrease) in cash and cash equivalents											0	(3)		(4)
Cash and cash equivalents, January 1					101					104	101	104		108
Cash and cash equivalents, December 31		101				101					101	101		104
Other subsidiaries | As previously filed
Adjustments to reconcile net income to net cash provided by operating activities
Changes in other assets and liabilities														(1)
Consolidating adjustments
Cash flows from operating activities
Net income (loss)											(40,964)	(41,410)		(28,836)
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings											40,964	41,410		28,836
Common stock dividends received from subsidiaries											(25,976)	(28,405)		(46,935)
Decrease (increase) in accounts receivable											(103)	(248)		4,717
Changes in other assets and liabilities											103	248		(4,717)
Net cash provided by operating activities											(25,976)	(28,405)		(46,935)
Cash flows from investing activities
Advances from affiliates											8,261	(19,611)		(37,200)
Other											0
Investment in consolidated subsidiary											0	12,461
Net cash used in investing activities											8,261	(7,150)		(37,200)
Cash flows from financing activities
Common stock dividends											25,976	28,405		46,935
Proceeds from issuance of common stock											0	(12,461)		0
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less											(8,261)	19,611		37,200
Net cash provided by (used in) financing activities											17,715	35,555		84,135
Consolidating adjustments | As previously filed
Adjustments to reconcile net income to net cash provided by operating activities
Changes in other assets and liabilities											103	248		(4,717)
HECO Consolidated
Cash flows from operating activities
Net income (loss)		29,611	$ 39,377	$ 34,729	35,919	32,489		$ 38,315	$ 29,192	24,928	139,636	124,924	[1]	101,271	[1]
Adjustments to reconcile net income to net cash provided by operating activities
Equity in earnings											(100)	(100)		(100)
Common stock dividends received from subsidiaries											100	100		100
Depreciation of property, plant and equipment											166,387	154,025	[1]	144,498	[1]
Other amortization											6,410	5,077	[1]	6,998	[1]
Impairment of utility plant											0	0	[1]	40,000	[1]
Increase (decrease) in deferred income taxes											82,947	64,507	[1]	86,878	[1]
Change in tax credits, net											6,062	7,017	[1]	6,075	[1]
Allowance for equity funds used during construction											(6,771)	(5,561)	[1]	(7,007)	[1]
Change in cash overdraft											(1,038)	1,038	[1]	0	[1]
Decrease (increase) in accounts receivable											26,743	49,445	[1]	(47,004)	[1]
Decrease (increase) in accrued unbilled revenues											6,750	(9,826)	[1]	3,528	[1]
Decrease (increase) in fuel oil stock											28,041	27,332	[1]	10,129	[1]
Increase in materials and supplies											1,794	(7,959)	[1]	(7,897)	[1]
Increase in regulatory assets											(17,000)	(65,461)	[1]	(72,401)	[1]
Increase (decrease) in accounts payable											(65,527)	14,731	[1]	6,322	[1]
Change in prepaid and accrued income taxes and utility revenue taxes											(4,036)	(2,028)	[1]	25,239	[1]
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability											(961)	2,240	[1]	(744)	[1]
Changes in other assets and liabilities											(62,442)	(32,636)		(74,262)
Net cash provided by operating activities											306,995	326,865	[1]	221,623	[1]
Cash flows from investing activities
Capital expenditures											(336,679)	(378,044)	[1]	(355,326)	[1]
Contributions in aid of construction											41,806	32,160	[1]	45,982	[1]
Other											1,164	907	[1]	843	[1]
Net cash used in investing activities											(293,709)	(344,977)	[1]	(308,501)	[1]
Cash flows from financing activities
Common stock dividends											(88,492)	(81,578)	[1]	(73,044)	[1]
Preferred stock dividends of Hawaiian Electric and subsidiaries											(1,995)	(1,995)	[1]	(1,995)	[1]
Proceeds from issuance of long-term debt											0	236,000	[1]	457,000	[1]
Proceeds from issuance of common stock											40,000	78,500	[1]	44,000	[1]
Repayment of long-term debt											(11,400)	(166,000)	[1]	(368,500)	[1]
Other											(462)	(1,149)	[1]	(2,230)	[1]
Net cash provided by (used in) financing activities											(62,349)	63,778	[1]	55,231	[1]
Net increase (decrease) in cash and cash equivalents											(49,063)	45,666	[1]	(31,647)	[1]
Cash and cash equivalents, January 1	[1]				$ 62,825					$ 17,159	62,825	17,159		48,806
Cash and cash equivalents, December 31		$ 13,762				$ 62,825	[1]				13,762	62,825	[1]	17,159	[1]
HECO Consolidated | As previously filed
Adjustments to reconcile net income to net cash provided by operating activities
Other amortization											8,091
Increase (decrease) in accounts payable											(90,632)	(20,828)		(38,913)
Changes in other assets and liabilities											(62,959)	(31,499)		(73,419)
Net cash provided by operating activities											283,054	292,443		177,231
Cash flows from investing activities
Capital expenditures											(311,574)	(342,485)		(310,091)
Other											0	(230)		0
Net cash used in investing activities											$ (269,768)	$ (310,555)		$ (264,109)
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Bank segment (HEI only) Stateme

Bank segment (HEI only) Statements of Income Data (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012
Interest expense
Interest on deposit liabilities									$ 5,077	$ 5,092		$ 6,423
Total interest expense									87,160	85,556		89,443
Provision for loan losses									6,126	1,507		12,883
Noninterest expense
Income before income taxes									261,922	247,747		217,407
Income taxes									91,712	84,341		76,859
Net income	$ 33,630	$ 48,286	$ 41,894	$ 46,400	$ 39,486	$ 48,707	$ 41,061	$ 34,152	170,210	163,406	[1]	140,548	[1]
American Savings Bank (ASB)
Interest and dividend income
Interest and fees on loans									179,341	172,969		176,057
Interest and dividends on investment securities									11,945	13,095		13,822
Total interest and dividend income									191,286	186,064		189,879
Interest expense
Interest on deposit liabilities									5,077	5,092		6,423
Interest on other borrowings									5,731	4,985		4,869
Total interest expense									10,808	10,077		11,292
Net interest income									180,478	175,987		178,587
Provision for loan losses									6,126	1,507		12,883
Net interest income after provision for loan losses									174,352	174,480		165,704
Noninterest income
Fees from other financial services									21,747	27,099		31,361
Fee income on deposit liabilities									19,249	18,363		17,775
Fee income on other financial products									8,131	8,405		6,577
Bank-owned life insurance									3,949	3,928		3,981
Mortgage banking income									2,913	8,309		14,628
Gain on sale of investment securities									2,847	1,226		134
Other income, net									2,375	4,753		1,204
Total noninterest income									61,211	72,083		75,660
Noninterest expense
Compensation and employee benefits									79,885	82,910		75,979
Occupancy									17,197	16,747		17,179
Data processing									11,690	10,952		10,098
Services									10,269	9,015		9,866
Equipment									6,564	7,295		7,105
Office supplies, printing and postage									6,089	4,233		3,870
Marketing									3,999	3,373		3,260
FDIC insurance									3,261	3,253		3,307
Other expense									20,990	21,726		21,679
Total noninterest expense									159,944	159,504		152,343
Income before income taxes									75,619	87,059		89,021
Income taxes									24,127	29,525		30,384
Net income									$ 51,492	$ 57,534		$ 58,637
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Bank segment (HEI only) State64

Bank segment (HEI only) Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012
Net income	$ 33,630	$ 48,286	$ 41,894	$ 46,400	$ 39,486	$ 48,707	$ 41,061	$ 34,152	$ 170,210	$ 163,406	[1]	$ 140,548	[1]
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 $(3,856), $9,037 and ($631) for 2014, 2013 and 2012, respectively									5,840	(13,686)		956
Less: reclassification adjustment for net realized gains included in net income, net of taxes of $1,132, $488 and $53 for 2014, 2013 and 2012, respectively									(1,715)	(738)		(81)
Retirement benefit plans:
Net gains (losses) arising during the period, net of (taxes) benefits of $6,164, ($10,450) and $5,240 for 2014, 2013 and 2012, respectively									(234,166)	223,177		(99,159)
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $561, $1,187 and $684 for 2014, 2013 and 2012, respectively									11,344	23,280		15,291
Other comprehensive income (loss), net of taxes									(10,628)	9,673		(7,286)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.									157,692	171,189		131,372
American Savings Bank (ASB)
Net income									51,492	57,534		58,637
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 $(3,856), $9,037 and ($631) for 2014, 2013 and 2012, respectively									5,840	(13,686)		956
Less: reclassification adjustment for net realized gains included in net income, net of taxes of $1,132, $488 and $53 for 2014, 2013 and 2012, respectively									(1,715)	(738)		(81)
Retirement benefit plans:
Net gains (losses) arising during the period, net of (taxes) benefits of $6,164, ($10,450) and $5,240 for 2014, 2013 and 2012, respectively									(9,336)	15,826		(7,936)
Less: amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $561, $1,187 and $684 for 2014, 2013 and 2012, respectively									850	1,797		1,036
Other comprehensive income (loss), net of taxes									(4,361)	3,199		(6,025)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.									$ 47,131	$ 60,733		$ 52,612
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Bank segment (HEI only) State65

Bank segment (HEI only) Statements of Comprehensive Income- Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net unrealized gains (losses) on securities arising during the period, taxes	$ 3,856	$ (9,037)	$ 631
Less: reclassification adjustment for net realized gains included in net income, taxes	(1,132)	(488)	(53)
Net gains (losses) arising during the period, tax benefits	(149,364)	142,478	(63,303)
Less: amortization of net loss, prior service gain and transition obligation included in net periodic benefit cost, tax benefits	7,245	14,870	9,764
American Savings Bank (ASB)
Net unrealized gains (losses) on securities arising during the period, taxes	3,856	(9,037)	631
Less: reclassification adjustment for net realized gains included in net income, taxes	1,132	488	53
Net gains (losses) arising during the period, tax benefits	(6,164)	10,450	(5,240)
Less: amortization of net loss, prior service gain and transition obligation included in net periodic benefit cost, tax benefits	$ (561)	$ (1,187)	$ (684)

Bank segment (HEI only) Balance

Bank segment (HEI only) Balance Sheets Data (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Assets
Cash and cash equivalents	$ 175,542	$ 220,036	[1]	$ 219,662	[1]	$ 270,265	[1]
Available-for-sale investment securities, at fair value	550,394	529,007
Stock in Federal Home Loan Bank of Seattle, at cost	69,302	92,546
Allowance for loan losses	(45,618)	(40,116)
Total loans, net	4,389,033	4,110,113
Loans held for sale, at lower of cost or fair value	8,424	5,302
Total other assets	541,542	512,627
Goodwill	82,190	82,190
Total assets	11,184,161	10,340,044
LIABILITIES AND SHAREHOLDERS' EQUITY
Other	531,230	524,224
Total liabilities	$ 9,358,440	$ 8,578,681
Commitments and contingencies (see “Litigation” below)
Retained earnings	$ 297,509	$ 255,694
Net unrealized gains (losses) on securities	462	(3,663)
Accumulated other comprehensive income (loss), net of taxes	(27,378)	(16,750)		(26,423)		(19,137)
Total shareholders' equity	1,791,428	1,727,070		$ 1,593,865		$ 1,528,706
Total liabilities and shareholders' equity	11,184,161	10,340,044
Other assets
Total property, plant and equipment, net	4,148,774	3,865,514
Total other assets	541,542	512,627
Other liabilities
Total other liabilities	531,230	524,224
American Savings Bank (ASB)
Assets
Cash and cash equivalents	107,233	108,998
Interest-bearing deposits	54,230	47,605
Available-for-sale investment securities, at fair value	550,394	529,007
Stock in Federal Home Loan Bank of Seattle, at cost	69,302	92,546
Loans receivable held for investment	4,434,651	4,150,229
Allowance for loan losses	(45,618)	(40,116)
Total loans, net	4,389,033	4,110,113
Loans held for sale, at lower of cost or fair value	8,424	5,302
Total other assets	304,435	268,063
Goodwill	82,190	82,190
Total assets	5,565,241	5,243,824
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposit liabilities-noninterest-bearing	1,342,794	1,214,418
Deposit liabilities-interest-bearing	3,280,621	3,158,059
Other borrowings	290,656	244,514
Other	116,527	105,679
Total liabilities	5,030,598	4,722,670
Common stock	1	1
Additional paid in capital	338,411	336,053
Retained earnings	212,789	197,297
Net unrealized gains (losses) on securities	462	(3,663)
Retirement benefit plans	(17,020)	(8,534)
Accumulated other comprehensive income (loss), net of taxes	(16,558)	(12,197)
Total shareholders' equity	534,643	521,154
Total liabilities and shareholders' equity	5,565,241	5,243,824
Other assets
Bank-owned life insurance	134,115	129,963
Total property, plant and equipment, net	92,407	67,766
Prepaid expenses	3,196	3,616
Accrued interest receivable	13,632	13,133
Mortgage-servicing rights	11,540	11,687
Low-income housing equity investments	32,457	14,543
Real estate acquired in settlement of loans, net	891	1,205
Other	16,197	26,150
Total other assets	304,435	268,063
Other liabilities
Accrued expenses	37,880	19,989
Federal and state income taxes payable	26,806	37,807
Cashier's checks	20,509	21,110
Advance payments by borrowers	9,652	9,647
Other	21,680	17,126
Total other liabilities	$ 116,527	$ 105,679
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Bank segment (HEI only) Availab

Bank segment (HEI only) Available For Sale Investment Securities (Details) $ in Thousands	Dec. 31, 2014USD ($)issue	Dec. 31, 2013USD ($)issue
Available-for-sale securities
Total available-for-sale securities, amortized cost	$ 549,627	$ 535,090
Gross unrealized gains	6,745	6,911
Gross unrealized losses	(5,978)	(12,994)
Available-for-sale investment securities	$ 550,394	$ 529,007
Available-for-sale Securities, Continuous Unrealized Loss Position
Number of issues, less than 12 months | issue	12	49
Fair value, less than 12 months	$ 88,999	$ 313,820
Gross unrealized losses, less than 12 months	$ (525)	$ (11,353)
Number of issues, more than 12 months | issue	34	4
Fair value, 12 months or longer	$ 201,791	$ 19,655
Gross unrealized losses, 12 months or longer	(5,453)	(1,641)
U.S. Treasury and federal agency obligations
Available-for-sale securities
Total available-for-sale securities, amortized cost	119,507
Gross unrealized gains	1,092
Gross unrealized losses	(1,039)
Available-for-sale investment securities	$ 119,560
Available-for-sale Securities, Continuous Unrealized Loss Position
Number of issues, less than 12 months | issue	6
Fair value, less than 12 months	$ 41,970
Gross unrealized losses, less than 12 months	$ (361)
Number of issues, more than 12 months | issue	5
Fair value, 12 months or longer	$ 29,168
Gross unrealized losses, 12 months or longer	(678)
Mortgage-related securities-FNMA, FHLMC and GNMA
Available-for-sale securities
Total available-for-sale securities, amortized cost	430,120	374,993
Gross unrealized gains	5,653	4,911
Gross unrealized losses	(4,939)	(10,460)
Available-for-sale investment securities	$ 430,834	$ 369,444
Available-for-sale Securities, Continuous Unrealized Loss Position
Number of issues, less than 12 months | issue	6	36
Fair value, less than 12 months	$ 47,029	$ 228,543
Gross unrealized losses, less than 12 months	$ (164)	$ (8,819)
Number of issues, more than 12 months | issue	29	4
Fair value, 12 months or longer	$ 172,623	$ 19,655
Gross unrealized losses, 12 months or longer	$ (4,775)	(1,641)
U.S. Treasury and federal agency obligations
Available-for-sale securities
Total available-for-sale securities, amortized cost		83,193
Gross unrealized gains		174
Gross unrealized losses		(2,394)
Available-for-sale investment securities		$ 80,973
Available-for-sale Securities, Continuous Unrealized Loss Position
Number of issues, less than 12 months | issue		10
Fair value, less than 12 months		$ 70,799
Gross unrealized losses, less than 12 months		$ (2,394)
Number of issues, more than 12 months | issue		0
Fair value, 12 months or longer		$ 0
Gross unrealized losses, 12 months or longer		0
Municipal bonds
Available-for-sale securities
Total available-for-sale securities, amortized cost		76,904
Gross unrealized gains		1,826
Gross unrealized losses		(140)
Available-for-sale investment securities		$ 78,590
Available-for-sale Securities, Continuous Unrealized Loss Position
Number of issues, less than 12 months | issue		3
Fair value, less than 12 months		$ 14,478
Gross unrealized losses, less than 12 months		$ (140)
Number of issues, more than 12 months | issue		0
Fair value, 12 months or longer		$ 0
Gross unrealized losses, 12 months or longer		$ 0

Bank segment (HEI only) Investm

Bank segment (HEI only) Investment Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012
Amortized Cost
Due in one year or less	$ 0
Due after one year through five years	34,953
Due after five years through ten years	47,131
Due after ten years	37,423
Total amortized cost	119,507
Mortgage-related securities-FNMA, FHLMC and GNMA - amortized cost	430,120
Total available-for-sale securities, amortized cost	549,627	$ 535,090
Fair value
Due in one year or less	0
Due after one year through five years	35,007
Due after five years through ten years	47,885
Due after ten years	36,668
Total fair value	119,560
Mortgage-related securities-FNMA, FHLMC and GNMA - fair value	430,834
Estimated fair value	550,394	529,007
Gains (losses) from sales of available-for-sale investments
Proceeds	79,564	71,367	[1]	$ 3,548	[1]
Available-for-sale securities pledged at carrying value	88,600	87,100
Available-for-sale securities, pledged at carrying value as collateral for securities sold under agreements to repurchase	230,200	187,100
Interest income from taxable and non-taxable investment securities
Taxable	11,666	11,474		12,309
Non-taxable	279	1,621		1,513
Total	11,945	13,095		13,822
Mortgage-related securities - FNMA, FHLMC and GNMA
Gains (losses) from sales of available-for-sale investments
Proceeds	79,600	71,400		3,500
Gross gains	2,800	1,200		100
Gross losses	0	0		$ 0
U.S. Treasury and federal agency obligations
Amortized Cost
Total available-for-sale securities, amortized cost		83,193
Fair value
Estimated fair value		80,973
Municipal bonds
Amortized Cost
Total available-for-sale securities, amortized cost		76,904
Fair value
Estimated fair value		78,590
FHLB Seattle
Interest income from taxable and non-taxable investment securities
Cost method investments	$ 69,300	$ 92,500
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Bank segment (HEI only) Loans R

Bank segment (HEI only) Loans Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Loans receivable
Loans and Leases Receivable, Gross	$ 4,440,989	$ 4,158,953
Deferred loan fees, net and unamortized discounts	(6,338)	(8,724)
Allowance for loan losses	(45,618)	(40,116)
Total loans, net	4,389,033	4,110,113
Real estate loans
Loans receivable
Loans and Leases Receivable, Gross	3,526,576	3,266,843
Residential 1-4 family
Loans receivable
Loans and Leases Receivable, Gross	2,044,205	2,006,007
Commercial real estate
Loans receivable
Loans and Leases Receivable, Gross	531,917	440,443
Home equity line of credit
Loans receivable
Loans and Leases Receivable, Gross	818,815	739,331
Residential land
Loans receivable
Loans and Leases Receivable, Gross	16,240	16,176
Commercial construction
Loans receivable
Loans and Leases Receivable, Gross	96,438	52,112
Residential construction
Loans receivable
Loans and Leases Receivable, Gross	18,961	12,774
Commercial loans
Loans receivable
Loans and Leases Receivable, Gross	791,757	783,388
Consumer loans
Loans receivable
Loans and Leases Receivable, Gross	$ 122,656	$ 108,722

Bank segment (HEI only) (Detail

Bank segment (HEI only) (Details 7) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Derivative instrument
Percentage of benchmark loan to appraisal ratio in excess of which mortgage insurance is required	80.00%
Real estate loans for investors	$ 1,400	$ 1,400	$ 1,300
Loans pledged as collateral to secure advances from the FHLB of Seattle	1,900	1,700
Loans to directors, executive directors, affiliates and any related interest of such individuals	49.6	45.8
Lines of credit closed and repaid, net of new loans and lines of credit to executive directors	3.8
New loans and lines of credit to executive directors	6.4
Lines of credit closed and repaid	2.6
Loan balances, related interests of individuals who are directors	$ 46.2	$ 40.5

Bank segment (HEI only) Allowan

Bank segment (HEI only) Allowance For Loan Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	$ 40,116	$ 41,985
Charge-offs	(5,550)	(8,202)
Recoveries	4,926	4,826
Provision	6,126	1,507
Valuation allowance, balance at the end of the period	45,618	40,116
Ending balance: individually evaluated for impairment	4,665	5,338
Ending balance: collectively evaluated for impairment	40,953	34,778
Financing Receivables:
Total financing receivables	4,440,989	4,158,953
Ending balance: individually evaluated for impairment	49,846	57,921
Ending balance: collectively evaluated for impairment	4,391,143	4,101,032
Residential 1-4 family
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	5,534	6,068
Charge-offs	(987)	(1,162)
Recoveries	1,180	1,881
Provision	(1,065)	(1,253)
Valuation allowance, balance at the end of the period	4,662	5,534
Ending balance: individually evaluated for impairment	951	642
Ending balance: collectively evaluated for impairment	3,711	4,892
Financing Receivables:
Total financing receivables	2,044,205	2,006,007
Ending balance: individually evaluated for impairment	22,981	20,317
Ending balance: collectively evaluated for impairment	2,021,224	1,985,690
Commercial real estate
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	5,059	2,965
Provision	3,895	2,094
Valuation allowance, balance at the end of the period	8,954	5,059
Ending balance: individually evaluated for impairment	1,845	1,118
Ending balance: collectively evaluated for impairment	7,109	3,941
Financing Receivables:
Total financing receivables	531,917	440,443
Ending balance: individually evaluated for impairment	5,112	4,604
Ending balance: collectively evaluated for impairment	526,805	435,839
Home equity line of credit
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	5,229	4,493
Charge-offs	(196)	(782)
Recoveries	752	358
Provision	1,197	1,160
Valuation allowance, balance at the end of the period	6,982	5,229
Ending balance: individually evaluated for impairment	46
Ending balance: collectively evaluated for impairment	6,936	5,229
Financing Receivables:
Total financing receivables	818,815	739,331
Ending balance: individually evaluated for impairment	779	1,179
Ending balance: collectively evaluated for impairment	818,036	738,152
Residential land
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	1,817	4,275
Charge-offs	(81)	(485)
Recoveries	469	868
Provision	(330)	(2,841)
Valuation allowance, balance at the end of the period	1,875	1,817
Ending balance: individually evaluated for impairment	1,057	1,332
Ending balance: collectively evaluated for impairment	818	485
Financing Receivables:
Total financing receivables	16,240	16,176
Ending balance: individually evaluated for impairment	7,850	10,577
Ending balance: collectively evaluated for impairment	8,390	5,599
Commercial construction
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	2,397	2,023
Provision	3,074	374
Valuation allowance, balance at the end of the period	5,471	2,397
Ending balance: collectively evaluated for impairment	5,471	2,397
Financing Receivables:
Total financing receivables	96,438	52,112
Ending balance: collectively evaluated for impairment	96,438	52,112
Residential construction
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	19	9
Provision	9	10
Valuation allowance, balance at the end of the period	28	19
Ending balance: collectively evaluated for impairment	28	19
Financing Receivables:
Total financing receivables	18,961	12,774
Ending balance: collectively evaluated for impairment	18,961	12,774
Commercial loans
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	15,803	15,931
Charge-offs	(1,872)	(3,056)
Recoveries	1,636	1,089
Provision	(1,550)	1,839
Valuation allowance, balance at the end of the period	14,017	15,803
Ending balance: individually evaluated for impairment	760	2,246
Ending balance: collectively evaluated for impairment	13,257	13,557
Financing Receivables:
Total financing receivables	791,757	783,388
Ending balance: individually evaluated for impairment	13,108	21,225
Ending balance: collectively evaluated for impairment	778,649	762,163
Consumer loans
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	2,367	4,019
Charge-offs	(2,414)	(2,717)
Recoveries	889	630
Provision	2,787	435
Valuation allowance, balance at the end of the period	3,629	2,367
Ending balance: individually evaluated for impairment	6
Ending balance: collectively evaluated for impairment	3,623	2,367
Financing Receivables:
Total financing receivables	122,656	108,722
Ending balance: individually evaluated for impairment	16	19
Ending balance: collectively evaluated for impairment	122,640	108,703
Unallocated
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	1,891	2,202
Provision	(1,891)	(311)
Valuation allowance, balance at the end of the period	0	1,891
Ending balance: collectively evaluated for impairment	$ 0	$ 1,891

Bank segment (HEI only) Changes

Bank segment (HEI only) Changes in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	$ 40,116	$ 41,985	$ 37,906
Provision for loan losses	6,126	1,507	12,883
Charge-offs	624	3,376	8,804
Valuation allowance, balance at the end of the period	$ 45,618	$ 40,116	$ 41,985
Ratio of net charge-offs to average loans outstanding (as a percent)	0.01%	0.09%	0.24%
Real estate loans
Allowance for loan losses:
Charge-offs	$ (1,137)	$ (678)	$ 3,828
Other loans
Allowance for loan losses:
Charge-offs	$ 1,761	$ 4,054	$ 4,976

Bank segment (HEI only) Credit

Bank segment (HEI only) Credit Risk Profile by Internally Assigned Grade for Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Credit risk profile by internally assigned grade for loans
Commercial real estate	$ 531,917	$ 440,443
Commercial construction	96,438	52,112
Commercial	791,757	783,388
Pass
Credit risk profile by internally assigned grade for loans
Commercial real estate	493,105	375,217
Commercial construction	79,312	52,112
Commercial	743,334	703,053
Special mention
Credit risk profile by internally assigned grade for loans
Commercial real estate	5,209	33,436
Commercial construction	0	0
Commercial	16,095	17,634
Substandard
Credit risk profile by internally assigned grade for loans
Commercial real estate	33,603	28,020
Commercial construction	17,126	0
Commercial	31,665	59,663
Doubtful
Credit risk profile by internally assigned grade for loans
Commercial real estate	0	3,770
Commercial	663	3,038
Loss
Credit risk profile by internally assigned grade for loans
Commercial real estate	0	0
Commercial	$ 0	$ 0

Bank segment (HEI only) Credi74

Bank segment (HEI only) Credit Risk Profile Based on Payment Activity for Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Credit risk profile based on payment activity for loans
30-59 days past due	$ 8,993	$ 5,781
60-89 days past due	2,711	1,752
Greater than 90 days	13,798	26,227
Total past due	25,502	33,760
Current	4,415,487	4,125,193
Total financing receivables	4,440,989	4,158,953
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	6,124	2,728
60-89 days past due	1,732	622
Greater than 90 days	12,632	15,411
Total past due	20,488	18,761
Current	2,023,717	1,987,246
Total financing receivables	2,044,205	2,006,007
Recorded Investment greater than 90 days and accruing	0	0
Commercial real estate
Credit risk profile based on payment activity for loans
30-59 days past due	0	0
60-89 days past due		0
Greater than 90 days	0	3,770
Total past due	0	3,770
Current	531,917	436,673
Total financing receivables	531,917	440,443
Recorded Investment greater than 90 days and accruing	0	0
Home equity line of credit
Credit risk profile based on payment activity for loans
30-59 days past due	1,341	765
60-89 days past due	501	312
Greater than 90 days	194	960
Total past due	2,036	2,037
Current	816,779	737,294
Total financing receivables	818,815	739,331
Recorded Investment greater than 90 days and accruing	0	0
Residential land
Credit risk profile based on payment activity for loans
30-59 days past due	0	184
60-89 days past due	0	48
Greater than 90 days	0	2,756
Total past due	0	2,988
Current	16,240	13,188
Total financing receivables	16,240	16,176
Recorded Investment greater than 90 days and accruing	0	0
Commercial construction
Credit risk profile based on payment activity for loans
Current	96,438	52,112
Total financing receivables	96,438	52,112
Recorded Investment greater than 90 days and accruing	0	0
Residential construction
Credit risk profile based on payment activity for loans
Current	18,961	12,774
Total financing receivables	18,961	12,774
Recorded Investment greater than 90 days and accruing	0	0
Commercial loans
Credit risk profile based on payment activity for loans
30-59 days past due	699	1,668
60-89 days past due	145	612
Greater than 90 days	569	3,026
Total past due	1,413	5,306
Current	790,344	778,082
Total financing receivables	791,757	783,388
Recorded Investment greater than 90 days and accruing	0	0
Consumer loans
Credit risk profile based on payment activity for loans
30-59 days past due	829	436
60-89 days past due	333	158
Greater than 90 days	403	304
Total past due	1,565	898
Current	121,091	107,824
Total financing receivables	122,656	108,722
Recorded Investment greater than 90 days and accruing	$ 0	$ 0

Bank segment (HEI only) Credi75

Bank segment (HEI only) Credit Risk Profile Based on Aging Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Credit risk profile based on nonaccrual loans
Nonaccrual loans	$ 36,886	$ 48,521
Accruing loans 90 days or more past due	0	0
Troubled debt restructured loans not included above	24,107	19,040
Residential 1-4 family
Credit risk profile based on nonaccrual loans
Nonaccrual loans	19,253	19,679
Accruing loans 90 days or more past due	0	0
Troubled debt restructured loans not included above	13,525	9,744
Commercial real estate
Credit risk profile based on nonaccrual loans
Nonaccrual loans	5,112	4,439
Accruing loans 90 days or more past due	0	0
Troubled debt restructured loans not included above	0	0
Home equity line of credit
Credit risk profile based on nonaccrual loans
Nonaccrual loans	1,087	2,060
Accruing loans 90 days or more past due	0	0
Troubled debt restructured loans not included above	480	171
Residential land
Credit risk profile based on nonaccrual loans
Nonaccrual loans	720	3,161
Accruing loans 90 days or more past due	0	0
Troubled debt restructured loans not included above	7,130	7,476
Commercial construction
Credit risk profile based on nonaccrual loans
Nonaccrual loans	0	0
Accruing loans 90 days or more past due	0	0
Troubled debt restructured loans not included above	0	0
Residential construction
Credit risk profile based on nonaccrual loans
Nonaccrual loans	0	0
Accruing loans 90 days or more past due	0	0
Troubled debt restructured loans not included above	0	0
Commercial loans
Credit risk profile based on nonaccrual loans
Nonaccrual loans	10,053	18,781
Accruing loans 90 days or more past due	0	0
Troubled debt restructured loans not included above	2,972	1,649
Consumer loans
Credit risk profile based on nonaccrual loans
Nonaccrual loans	661	401
Accruing loans 90 days or more past due	0	0
Troubled debt restructured loans not included above	$ 0	$ 0

Bank segment (HEI only) Carryin

Bank segment (HEI only) Carrying Amount of Impaired Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Recorded investment:
With no related allowance recorded	$ 23,167	$ 16,487
With an allowance recorded	26,679	36,031
Recorded investment	49,846	52,518
Unpaid principal balance:
With no related allowance recorded	28,890	21,717
With an allowance recorded	27,119	39,185
Unpaid principal balance	56,009	60,902
Related Allowance	4,665	5,338
Average recorded investment:
With no related allowance recorded	17,592	24,631
With an allowance recorded	30,882	34,679
Average recorded investment	48,474	59,310
Interest income recognized:
With no related allowance recorded	442	882
With an allowance recorded	1,825	1,072
Interest income recognized	2,267	1,954
Residential 1-4 family
Recorded investment:
With no related allowance recorded	11,654	9,708
With an allowance recorded	11,327	6,216
Recorded investment	22,981	15,924
Unpaid principal balance:
With no related allowance recorded	12,987	12,144
With an allowance recorded	11,347	6,236
Unpaid principal balance	24,334	18,380
Related Allowance	951	642
Average recorded investment:
With no related allowance recorded	9,056	11,674
With an allowance recorded	8,822	6,455
Average recorded investment	17,878	18,129
Interest income recognized:
With no related allowance recorded	227	386
With an allowance recorded	419	372
Interest income recognized	646	758
Commercial real estate
Recorded investment:
With no related allowance recorded	571	0
With an allowance recorded	4,541	4,604
Recorded investment	5,112	4,604
Unpaid principal balance:
With no related allowance recorded	626	0
With an allowance recorded	4,541	4,686
Unpaid principal balance	5,167	4,686
Related Allowance	1,845	1,118
Average recorded investment:
With no related allowance recorded	194	802
With an allowance recorded	3,415	5,745
Average recorded investment	3,609	6,547
Interest income recognized:
With no related allowance recorded	0	0
With an allowance recorded	478	152
Interest income recognized	478	152
Home equity line of credit
Recorded investment:
With no related allowance recorded	363	672
With an allowance recorded	416	0
Recorded investment	779	672
Unpaid principal balance:
With no related allowance recorded	606	1,227
With an allowance recorded	420	0
Unpaid principal balance	1,026	1,227
Related Allowance	46	0
Average recorded investment:
With no related allowance recorded	402	623
With an allowance recorded	132	0
Average recorded investment	534	623
Interest income recognized:
With no related allowance recorded	5	2
With an allowance recorded	6	0
Interest income recognized	11	2
Residential land
Recorded investment:
With no related allowance recorded	2,344	2,622
With an allowance recorded	5,506	7,452
Recorded investment	7,850	10,074
Unpaid principal balance:
With no related allowance recorded	3,200	3,612
With an allowance recorded	5,584	7,623
Unpaid principal balance	8,784	11,235
Related Allowance	1,057	1,332
Average recorded investment:
With no related allowance recorded	2,728	6,675
With an allowance recorded	6,415	6,844
Average recorded investment	9,143	13,519
Interest income recognized:
With no related allowance recorded	172	482
With an allowance recorded	484	409
Interest income recognized	656	891
Commercial construction
Recorded investment:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Recorded investment	0	0
Unpaid principal balance:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Unpaid principal balance	0	0
Related Allowance	0	0
Average recorded investment:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Average recorded investment	0	0
Interest income recognized:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Interest income recognized	0	0
Residential construction
Recorded investment:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Recorded investment	0	0
Unpaid principal balance:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Unpaid principal balance	0	0
Related Allowance	0	0
Average recorded investment:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Average recorded investment	0	0
Interest income recognized:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Interest income recognized	0	0
Commercial loans
Recorded investment:
With no related allowance recorded	8,235	3,466
With an allowance recorded	4,873	17,759
Recorded investment	13,108	21,225
Unpaid principal balance:
With no related allowance recorded	11,471	4,715
With an allowance recorded	5,211	20,640
Unpaid principal balance	16,682	25,355
Related Allowance	760	2,246
Average recorded investment:
With no related allowance recorded	5,204	4,837
With an allowance recorded	12,089	15,635
Average recorded investment	17,293	20,472
Interest income recognized:
With no related allowance recorded	38	12
With an allowance recorded	438	139
Interest income recognized	476	151
Consumer loans
Recorded investment:
With no related allowance recorded	0	19
With an allowance recorded	16	0
Recorded investment	16	19
Unpaid principal balance:
With no related allowance recorded	0	19
With an allowance recorded	16	0
Unpaid principal balance	16	19
Related Allowance	6	0
Average recorded investment:
With no related allowance recorded	8	20
With an allowance recorded	9	0
Average recorded investment	17	20
Interest income recognized:
With no related allowance recorded	0	0
With an allowance recorded	0	0
Interest income recognized	$ 0	$ 0

Bank segment (HEI only) TDR Nar

Bank segment (HEI only) TDR Narrative (Details) - Land loans	12 Months Ended
	Dec. 31, 2014
Troubled debt restructurings
Period of interest-only monthly payment term loan	3 years
Maximum
Troubled debt restructurings
Extension of maturity date	5 years

Bank segment (HEI only) Loan Mo

Bank segment (HEI only) Loan Modifications (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2014USD ($)contract	Dec. 31, 2013USD ($)contract	Dec. 31, 2012
Loan modifications determined to be troubled debt restructurings
Commitments to Borrowers whose Loan Terms are Impaired or Modified under Troubled Debt Restructuring	$ 500
Troubled debt restructurings real estate loans
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	71	66
Pre-modification outstanding recorded investment	$ 19,313	$ 20,374
Post-modification outstanding recorded investment	19,370	20,199
Net increase in ALLL	$ 460	$ 522
Minimum period of payment default of loans determined to be TDRs	90 days	90 days	90 days
Troubled debt restructurings that subsequently defaulted
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	2	3
Recorded investment	$ 404	$ 727
Residential 1-4 family | Troubled debt restructurings real estate loans
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	38	34
Pre-modification outstanding recorded investment	$ 10,680	$ 8,876
Post-modification outstanding recorded investment	10,737	8,957
Net increase in ALLL	$ 163	$ 297
Residential 1-4 family | Troubled debt restructurings that subsequently defaulted
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	1	0
Recorded investment	$ 390	$ 0
Commercial real estate | Troubled debt restructurings real estate loans
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0
Pre-modification outstanding recorded investment	$ 0	$ 0
Post-modification outstanding recorded investment	0	0
Net increase in ALLL	$ 0	$ 0
Commercial real estate | Troubled debt restructurings that subsequently defaulted
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0
Recorded investment	$ 0	$ 0
Home equity line of credit | Troubled debt restructurings real estate loans
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	8	5
Pre-modification outstanding recorded investment	$ 502	$ 637
Post-modification outstanding recorded investment	502	390
Net increase in ALLL	$ 42	$ 0
Home equity line of credit | Troubled debt restructurings that subsequently defaulted
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	1
Recorded investment	$ 0	$ 67
Residential land | Troubled debt restructurings real estate loans
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	18	20
Pre-modification outstanding recorded investment	$ 4,304	$ 6,215
Post-modification outstanding recorded investment	4,304	6,206
Net increase in ALLL	$ 242	$ 131
Residential land | Troubled debt restructurings that subsequently defaulted
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0
Recorded investment	$ 0	$ 0
Commercial construction | Troubled debt restructurings real estate loans
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0
Pre-modification outstanding recorded investment	$ 0	$ 0
Post-modification outstanding recorded investment	0	0
Net increase in ALLL	$ 0	$ 0
Commercial construction | Troubled debt restructurings that subsequently defaulted
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0
Recorded investment	$ 0	$ 0
Residential construction | Troubled debt restructurings real estate loans
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0
Pre-modification outstanding recorded investment	$ 0	$ 0
Post-modification outstanding recorded investment	0	0
Net increase in ALLL	$ 0	$ 0
Residential construction | Troubled debt restructurings that subsequently defaulted
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0
Recorded investment	$ 0	$ 0
Commercial loans | Troubled debt restructurings real estate loans
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	7	7
Pre-modification outstanding recorded investment	$ 3,827	$ 4,646
Post-modification outstanding recorded investment	3,827	4,646
Net increase in ALLL	$ 13	$ 94
Commercial loans | Troubled debt restructurings that subsequently defaulted
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	1	2
Recorded investment	$ 14	$ 660
Consumer loans | Troubled debt restructurings real estate loans
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0
Pre-modification outstanding recorded investment	$ 0	$ 0
Post-modification outstanding recorded investment	0	0
Net increase in ALLL	$ 0	$ 0
Consumer loans | Troubled debt restructurings that subsequently defaulted
Loan modifications determined to be troubled debt restructurings
Number of contracts | contract	0	0
Recorded investment	$ 0	$ 0

Bank segment (HEI only) Mortgag

Bank segment (HEI only) Mortgage Servicing Rights- Narrative (Details) - American Savings Bank (ASB) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Loans receivable
Repurchased mortgage loans	$ 0.5	$ 1.9	$ 0.4
Mortgage servicing fees	3.5	3.3	2.8
Residential loan
Loans receivable
Proceeds from sale of mortgage loans	155	273.8	513
Gain on sale of mortgage loans	$ 2.9	$ 8.3	$ 14.6

Bank segment (HEI only) Mortg80

Bank segment (HEI only) Mortgage Servicing Rights (Details) - American Savings Bank (ASB) - Mortgage Servicing Rights (MSR) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Loans receivable
Gross carrying amount	$ 27,185	$ 25,644
Accumulated amortization	(15,436)	(13,706)
Valuation allowance	(209)	(251)	$ (498)	$ (175)
Net carrying amount	$ 11,540	$ 11,687	$ 10,818

Bank segment (HEI only) Mortg81

Bank segment (HEI only) Mortgage Servicing Rights and Valuation Allowance Roll Forward (Details) - American Savings Bank (ASB) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Mortgage Servicing Rights [Roll Forward]
Beginning balance	$ 11,687
Ending balance	11,540	$ 11,687
Mortgage Servicing Rights (MSR)
Mortgage Servicing Rights [Roll Forward]
Beginning balance	11,938	11,316	$ 8,402
Amount capitalized	1,637	2,611	4,845
Amortization	(1,731)	(1,802)	(1,750)
Other-than-temporary impairment	(95)	(187)	(181)
Ending balance	11,749	11,938	11,316
Valuation Allowance [Roll Forward]
Valuation allowance, beginning balance	251	498	175
Provision (recovery)	53	(60)	504
Other-than-temporary impairment	(95)	(187)	(181)
Valuation allowance, ending balance	209	251	498
Net carrying amount	11,540	$ 11,687	$ 10,818
Estimated Aggregate Amortization Expenses of Mortgage Servicing Rights [Abstract]
2,015	1,700
2,016	1,500
2,017	1,300
2,018	1,100
2,019	$ 1,000

Bank segment (HEI only) Key Ass

Bank segment (HEI only) Key Assumptions Used in Estimating the Fair Value of ASB's Mortgage Servicing Rights (Details) - Mortgage Servicing Rights (MSR) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Prepayment rate:
25 basis points adverse rate change	$ (757)	$ (732)
50 basis points adverse change	(1,524)	(1,492)
Discount rate:
25 basis points adverse rate change	(140)	(154)
50 basis points adverse change	(278)	(306)
American Savings Bank (ASB)
Loans receivable
Unpaid principal balance	$ 1,391,030	$ 1,357,003
Weighted average note rate	4.07%	4.07%
Weighted average discount rate	9.60%	9.80%
Weighted average prepayment speed	9.50%	8.60%

Bank segment (HEI only) Deposit

Bank segment (HEI only) Deposit Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Weighted-average stated rate
Savings (as a percent)	0.06%	0.06%
Other checking, interest bearing (as a percent)	0.02%	0.02%
Money market (as a percent)	0.12%	0.13%
Term certificates (as a percent)	0.83%	0.80%
Total weighted-average stated rate (as a percent)	0.11%	0.11%
Deposit liabilities
Savings	$ 1,923,062	$ 1,826,907
Other checking
Interest-bearing	768,787	721,700
Noninterest-bearing	665,005	643,628
Commercial checking	677,789	570,790
Money market	158,010	182,546
Term certificates	430,762	426,906
Total Amount	4,623,415	4,372,477
Certificate accounts of $100,000 or more	120,000	102,000
Term certificates outstanding, scheduled maturities
2,015	255,896
2,016	55,614
2,017	44,315
2,018	16,949
2,019	54,979
Thereafter	3,009
Total	430,762
Interest expense on deposit liabilities by type of deposit
Term certificates	3,603	3,702	$ 4,865
Savings	1,134	1,052	1,128
Money market	214	232	319
Interest-bearing checking	126	106	111
Interest expense on deposit liabilities	$ 5,077	$ 5,092	$ 6,423

Bank segment (HEI only) Securit

Bank segment (HEI only) Securities Sold Under Agreements to Repurchase, Including Related Collateral Received From or Pledged to Counterparties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Securities sold under agreements to repurchase
Gross amount of recognized liabilities, repurchase agreements	$ 191,000	$ 145,000
Net amount of liabilities presented in the Balance Sheet, repurchase agreements	191,000	145,000
Financial instruments	191,000	145,000
Identical securities
Securities sold under agreements to repurchase
Repurchase liability	190,656	145,000	$ 146,000
Average amount outstanding during the year	155,000	147,000	173,000
Maximum amount outstanding as of any month-end	$ 195,000	$ 151,000	$ 189,000
Weighted-average interest rate as of end of the period (as a percent)	1.45%	1.75%	1.74%
Weighted-average interest rate during the year (as a percent)	1.67%	1.74%	1.56%
Weighted-average remaining days to maturity as of end of the period	343 days	367 days	489 days
Overnight
Securities sold under agreements to repurchase
Repurchase liability	$ 84,758
Weighted-average interest rate as of end of the period (as a percent)	0.15%
1 to 29 days
Securities sold under agreements to repurchase
Repurchase liability	$ 0
Weighted-average interest rate as of end of the period (as a percent)	0.00%
30 to 90 days
Securities sold under agreements to repurchase
Repurchase liability	$ 0
Weighted-average interest rate as of end of the period (as a percent)	0.00%
Over 90 days
Securities sold under agreements to repurchase
Repurchase liability	$ 105,898
Weighted-average interest rate as of end of the period (as a percent)	2.50%
Financial institution
Securities sold under agreements to repurchase
Net amount of liabilities presented in the Balance Sheet, repurchase agreements	$ 50,000	$ 51,000
Financial instruments	50,000	51,000
Government entities
Securities sold under agreements to repurchase
Net amount of liabilities presented in the Balance Sheet, repurchase agreements	56,000
Financial instruments	56,000
Commercial account holders
Securities sold under agreements to repurchase
Net amount of liabilities presented in the Balance Sheet, repurchase agreements	85,000	94,000
Financial instruments	$ 85,000	$ 94,000

Bank segment (HEI only) Secur85

Bank segment (HEI only) Securities Sold Under Agreements to Repurchase (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Securities sold under agreements to repurchase
Callable quarterly at par until maturity in 2016	$ 50,300
Overnight
Securities sold under agreements to repurchase
Repurchase liability	$ 84,758
Weighted-average interest rate	0.15%
1 to 29 days
Securities sold under agreements to repurchase
Repurchase liability	$ 0
Weighted-average interest rate	0.00%
30 to 90 days
Securities sold under agreements to repurchase
Repurchase liability	$ 0
Weighted-average interest rate	0.00%
Over 90 days
Securities sold under agreements to repurchase
Repurchase liability	$ 105,898
Weighted-average interest rate	2.50%
Collateralized by mortgage-related securities and federal agency obligations
Securities sold under agreements to repurchase
Collateralized by mortgage-related securities and federal agency obligations at fair value plus accrued interest	$ 230,725
Collateralized by mortgage-related securities and federal agency obligations | Overnight
Securities sold under agreements to repurchase
Collateralized by mortgage-related securities and federal agency obligations at fair value plus accrued interest	114,883
Collateralized by mortgage-related securities and federal agency obligations | 1 to 29 days
Securities sold under agreements to repurchase
Collateralized by mortgage-related securities and federal agency obligations at fair value plus accrued interest	0
Collateralized by mortgage-related securities and federal agency obligations | 30 to 90 days
Securities sold under agreements to repurchase
Collateralized by mortgage-related securities and federal agency obligations at fair value plus accrued interest	0
Collateralized by mortgage-related securities and federal agency obligations | Over 90 days
Securities sold under agreements to repurchase
Collateralized by mortgage-related securities and federal agency obligations at fair value plus accrued interest	115,842
Identical securities
Securities sold under agreements to repurchase
Repurchase liability	$ 190,656	$ 145,000	$ 146,000
Weighted-average interest rate	1.45%	1.75%	1.74%

Bank segment (HEI only) FHLB Ad

Bank segment (HEI only) FHLB Advances (Details) $ in Thousands	Dec. 31, 2014USD ($)
Weighted-average stated rate
2015 (as a percent)	0.00%
2016 (as a percent)	0.00%
2017 (as a percent)	4.28%
2018 (as a percent)	1.95%
2019 (as a percent)	0.00%
Thereafter (as a percent)	0.00%
Total weighted-average stated rate (as a percent)	3.12%
Due in
2,015	$ 0
2,016	0
2,017	50,000
2,018	50,000
2,019	0
Thereafter	0
Total amount due	$ 100,000

Bank segment (HEI only) Additio

Bank segment (HEI only) Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Hawaiian Electric Industries, Inc. | Consolidated subsidiary | American Savings Bank (ASB) | Management and administrative services
Revenue from related party	$ 2.3	$ 2.3	$ 1.9
Hawaiian Electric Industries, Inc. | Maximum
Obligation to contribute additional capital under the Capital Maintenance Agreement	65.1
Reduction in obligation to contribute additional capital under the Capital Maintenance Agreement	28.3
American Savings Bank (ASB)
Borrowing capacity	1,200	1,100
Cash dividends paid	$ 36	$ 40

Bank segment (HEI only) Derivat

Bank segment (HEI only) Derivative Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Derivative instrument
Net gains (losses) recognized in the Statement of Income	$ (319)	$ 603	$ 0
Not Designated as Hedging Instrument
Derivative instrument
Asset derivative	398	629
Liability derivative	114	26
Interest Rate Lock Commitments
Derivative instrument
Notional amount	29,330	25,070
Fair value	390	464
Interest Rate Lock Commitments | Not Designated as Hedging Instrument
Derivative instrument
Asset derivative	393	488
Liability derivative	3	24
Interest Rate Lock Commitments | Not Designated as Hedging Instrument | Mortgage banking income
Derivative instrument
Net gains (losses) recognized in the Statement of Income	(74)	464	0
Forward Contracts
Derivative instrument
Notional amount	32,833	26,018
Fair value	(106)	139
Forward Contracts | Not Designated as Hedging Instrument
Derivative instrument
Asset derivative	5	141
Liability derivative	111	2
Forward Contracts | Not Designated as Hedging Instrument | Mortgage banking income
Derivative instrument
Net gains (losses) recognized in the Statement of Income	$ (245)	$ 139	$ 0

Off Balance Sheet Arrangements

Off Balance Sheet Arrangements and Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Minimum
Guarantees
Assessment rate for financial institutions in the lowest risk category (as a percent)	0.025%
Assessment rate for financial institutions in the highest risk category (as a percent)	0.30%
Maximum
Guarantees
Assessment rate for financial institutions in the lowest risk category (as a percent)	0.09%
Assessment rate for financial institutions in the highest risk category (as a percent)	0.45%
American Savings Bank (ASB)
Guarantees
FDIC insurance assessment	$ 3,000	$ 2,900
Indemnification Agreement | American Savings Bank (ASB)
Guarantees
Accrued indemnification litigation obligation	1,100
Home equity line of credit
Guarantees
Unused Commitments to Extend Credit	1,089,633	1,011,334
Commercial and commercial real estate
Guarantees
Unused Commitments to Extend Credit	526,133	527,987
Consumer loans
Guarantees
Unused Commitments to Extend Credit	56,312	58,080
Residential 1-4 family
Guarantees
Unused Commitments to Extend Credit	20,524	14,241
Commercial and financial standby letters of credit [Member]
Guarantees
Unused Commitments to Extend Credit	20,082	15,747
March 2011 Class Action Lawsuit
Guarantees
Tentative settlement amount	2,000
Loss contingency reserve	2,000
Reserve for Off-balance Sheet Activities [Member]
Guarantees
Unused Commitments to Extend Credit	$ 1,712,684	$ 1,627,389

Unconsolidated variable inter90

Unconsolidated variable interest entities (Details)	1 Months Ended			12 Months Ended
	Oct. 31, 2004MW	Mar. 31, 2004USD ($)security	May. 31, 1991MW	Dec. 31, 2014USD ($)entityagreementkW	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)
Power purchase agreement
Number of power purchase agreements (PPAs) | agreement				7
Number of largest IPP's declining to provide financial information to determine primary beneficiary status | entity				3
Accounts payable				$ 186,425,000	$ 212,331,000
Hawaiian Electric Company, Inc. and Subsidiaries
Power purchase agreement
Purchases from IPPs				722,008,000	710,681,000	$ 724,240,000
Hawaiian Electric Company, Inc. and Subsidiaries | AES Hawaii, Inc. (AES Hawaii)
Power purchase agreement
Purchases from IPPs				145,000,000	134,000,000	146,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Kalaeloa Partners, L.P. (Kalaeloa)
Power purchase agreement
Purchases from IPPs				279,000,000	301,000,000	310,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Hamakua Energy Partners, L.P. (HEP)
Power purchase agreement
Purchases from IPPs				51,000,000	51,000,000	65,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | HPOWER
Power purchase agreement
Purchases from IPPs				66,000,000	61,000,000	65,000,000
Hawaiian Electric Company, Inc. and Subsidiaries | Other IPPs
Power purchase agreement
Purchases from IPPs				$ 181,000,000	164,000,000	138,000,000
HECO
Power purchase agreement
Number of power purchase agreements (PPAs) | agreement				7
Maximum capacity of small power production facilities (in kilowatts) | kW				100
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				$ 537,821,000	527,839,000	540,802,000
Number of entities owning wind farms not required to be consolidated as VIE's | entity				2
Minimum potential number of IPP entities consolidated into company in the future | entity				1
HECO | Kalaeloa Partners, L.P. (Kalaeloa)
Power purchase agreement
Power purchase 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				$ 13,000,000
Hawaii Electric Light Company, Inc. (HELCO)
Power purchase agreement
Purchases from IPPs				123,226,000	128,368,000	145,386,000
Maui Electric Company, Limited (MECO)
Power purchase agreement
Purchases from IPPs				60,961,000	$ 54,474,000	$ 38,052,000
HECO Capital Trust III
Unconsolidated variable interest entities
Investment in 2004 Debentures				51,500,000
Interest income				3,400,000
HECO Capital Trust III | HECO
Unconsolidated variable interest entities
Principal amount of 2004 Debentures		$ 31,500,000
HECO Capital Trust III | HECO | 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		$ 50,000,000
Balance of Trust Securities				50,000,000
Dividend distributions on Trust Preferred Securities				3,300,000
HECO Capital Trust III | HECO | Trust Common Securities
Unconsolidated variable interest entities
Aggregate Liquidation preference		1,500,000
Balance of Trust Securities				1,500,000
Common dividend				$ 100,000
HECO Capital Trust III | Hawaii Electric Light Company, Inc. (HELCO)
Unconsolidated variable interest entities
Principal amount of 2004 Debentures		10,000,000
HECO Capital Trust III | Maui Electric Company, Limited (MECO)
Unconsolidated variable interest entities
Principal amount of 2004 Debentures		$ 10,000,000

Short-term borrowings (Details)

Short-term borrowings (Details)	12 Months Ended
	Dec. 31, 2014USD ($)	Apr. 02, 2014USD ($)Institution	Apr. 01, 2014USD ($)	Dec. 31, 2013USD ($)
Short-term borrowings
Outstanding amount	$ 118,972,000			$ 105,482,000
HEI
Credit agreements
Number of financial institutions | Institution		9
Line of credit facility, reference rate	Adjusted LIBO Rate
Actual capitalization ratio (as a percent)	19.00%
HEI | Maximum
Credit agreements
Capitalization ratio required to be maintained as per the debt covenant (as a percent)		50.00%
Hawaiian Electric Company, Inc (HECO)
Credit agreements
Number of financial institutions | Institution		9
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)	58.00%
HELCO
Credit agreements
Actual ratio of consolidated subsidiary debt to total consolidated capitalization (as a percent)	41.00%
MECO
Credit agreements
Actual ratio of consolidated subsidiary debt to total consolidated capitalization (as a percent)	42.00%
Commercial paper | HEI
Short-term borrowings
Outstanding amount	$ 119,000,000			$ 105,000,000
Weighted-average interest rate (as a percent)	0.70%			0.70%
Line of credit facility | HEI
Short-term borrowings
Maximum capacity under syndicated credit facilities		$ 150,000,000	$ 125,000,000
Credit agreements
Annual fees on undrawn commitments, basis points (as a percent)	0.20%
Line of credit facility | Hawaiian Electric Company, Inc (HECO)
Short-term borrowings
Maximum capacity under syndicated credit facilities		$ 200,000,000	$ 175,000,000
Credit agreements
Annual fees on undrawn commitments, basis points (as a percent)	0.175%
Line of credit facility | Adjusted LIBO Rate | HEI
Credit agreements
Line of credit facility basis point spread (as a percent)	1.375%
Line of credit facility | Adjusted LIBO Rate | Hawaiian Electric Company, Inc (HECO)
Credit agreements
Line of credit facility basis point spread (as a percent)	1.25%

Long-term debt (Details)

Long-term debt (Details) - USD ($) $ in Thousands	May. 05, 2014	May. 02, 2014	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012	[1]
Long-term debt
Long-term debt			$ 1,506,546	$ 1,492,945
Aggregate principal payments
2,015			0
2,016			200,000
2,017			0
2,018			50,000
2,019			0
Proceeds from issuance of long-term debt			125,000	286,000	[1]	$ 457,000
Hawaiian Electric Company, Inc. and Subsidiaries
Aggregate principal payments
2,015			0
2,016			0
2,017			0
2,018			50,000
2,019			0
Proceeds from issuance of long-term debt			0	236,000	[1]	$ 457,000
Special purpose revenue bonds issued on behalf of electric utility subsidiaries
Long-term debt
Long-term debt			1,206,546	1,217,945
HEI term loan LIBOR plus .90% due 2016
Long-term debt
Long-term debt			$ 125,000	0
HEI term loan LIBOR plus .90% due 2016 | LIBOR
Long-term debt
Line of credit facility basis point spread (as a percent)			0.90%
HEI medium-term note 6.51%, due 2014
Long-term debt
Long-term debt			$ 0	$ 100,000
Debt instrument, stated interest rate (as a percent)			6.51%	6.51%
HEI medium-term note 6.51%, due 2014 | Medium-term note
Long-term debt
Debt instrument, stated interest rate (as a percent)	6.51%
Aggregate principal payments
Refinancing of unsecured debt payable	$ 100,000
HEI senior note 4.41%, due 2016
Long-term debt
Long-term debt			$ 75,000	$ 75,000
Debt instrument, stated interest rate (as a percent)			4.41%	4.41%
HEI senior note 5.67%, due 2021
Long-term debt
Long-term debt			$ 50,000	$ 50,000
Debt instrument, stated interest rate (as a percent)			5.67%	5.67%
HEI senior note 3.99%, due 2023
Long-term debt
Long-term debt			$ 50,000	$ 50,000
Debt instrument, stated interest rate (as a percent)			3.99%	3.99%
Loans payable | Eurodollar term loan
Aggregate principal payments
Proceeds from issuance of long-term debt		$ 125,000
Term Of Loan		2 years
Loans payable | Eurodollar term loan | Minimum
Aggregate principal payments
Debt Instrument, Interest Rate, Effective Percentage		1.12%
Loans payable | Eurodollar term loan | Maximum
Aggregate principal payments
Debt Instrument, Interest Rate, Effective Percentage		1.14%
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Shareholders' equity Additional

Shareholders' equity Additional Information (Details) - USD ($)	Dec. 31, 2014	Jul. 14, 2014	Dec. 19, 2013	Mar. 20, 2013	Mar. 19, 2013
Equity [Abstract]
Common stock reserved for future issuance	18,372,187
Common stock reserved for future issuance in equity forward transaction	4,700,000
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)	$ 22.63				$ 25.74688
Initial fair value (in dollars per share)	$ 0
Delivery of net shares on settlement	1,500,000	1,000,000	1,300,000
Delivery of cash on settlement	$ 51,000,000	$ 23,900,000	$ 32,100,000
Underwriting discount included in delivery of cash	5,000,000	$ 1,000,000	$ 1,300,000
Cash in exchange of physical delivery of shares on settlement	$ 106,000,000

Shareholders' equity Accumulate

Shareholders' equity Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (16,750)	$ (26,423)	$ (19,137)
Current period other comprehensive income (loss)	(10,628)	9,673	(7,286)
Ending balance	(27,378)	(16,750)	(26,423)
Net unrealized gains (losses) on securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(3,663)	10,761	9,886
Current period other comprehensive income (loss)	4,125	(14,424)	875
Ending balance	462	(3,663)	10,761
Unrealized losses on derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(525)	(760)	(996)
Current period other comprehensive income (loss)	236	235	236
Ending balance	(289)	(525)	(760)
Retirement benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(12,562)	(36,424)	(28,027)
Current period other comprehensive income (loss)	(14,989)	23,862	(8,397)
Ending balance	(27,551)	(12,562)	(36,424)
Hawaiian Electric Company, Inc. and Subsidiaries | Retirement benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	608	(970)	(32)
Current period other comprehensive income (loss)	(563)	1,578	(938)
Ending balance	$ 45	$ 608	$ (970)

Shareholders' equity Reclassifi

Shareholders' equity Reclassification Out Of AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Interest rate contracts (settled in 2011)	$ 76,352	$ 75,479	$ 78,151
Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost	(11,344)	(23,280)	(15,291)
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets	(207,833)	222,595	(75,471)
Amount reclassified from AOCI
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications	217,698	(199,818)	90,917
Amount reclassified from AOCI | Unrealized losses on derivatives
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Net realized gains on securities	(1,715)	(738)	(81)
Interest rate contracts (settled in 2011)	236	235	236
Amount reclassified from AOCI | Retirement benefit plans
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost	11,344	23,280	15,291
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets	207,833	(222,595)	75,471
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost	(10,212)	(20,694)	(13,673)
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets	(207,833)	222,595	(75,471)
Hawaiian Electric Company, Inc. and Subsidiaries | Amount reclassified from AOCI
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications	218,045	(201,901)	89,144
Hawaiian Electric Company, Inc. and Subsidiaries | Amount reclassified from AOCI | Retirement benefit plans
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items]
Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost	10,212	20,694	13,673
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets	$ 207,833	$ (222,595)	$ 75,471

Retirement benefits Additional

Retirement benefits Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2007
Defined Benefit Plan Disclosure [Line Items]
Vested percentage of interest of each affected participant after participating employer terminates participation	100.00%
Number of years for which regulatory asset/liability for each utility will be amortized, beginning with respective utility's next rate case	5 years
Executive life and nonqualified pension plan expenses	$ 1,200,000	$ 1,200,000
Regulatory asset charges pretax	$ 340,000,000	(364,000,000)
Fair value of plan assets, valuation difference amortized in first year (as a percent)	0.00%
Fair value of plan assets, valuation difference amortized in two to five years (as a percent)	25.00%
Number of past years for adding or subtracting the unamortized differences from fair value	4 years
Percentage of range around fair value	15.00%
Expected cash funding for qualified defined benefit plans
Defined contribution plan, expenses recognized	$ 5,000,000	5,000,000	$ 4,000,000
Cash contributions by the employer to defined contribution plan	$ 5,000,000	4,000,000	4,000,000
Minimum
Defined Benefit Plan Disclosure [Line Items]
Threshold percentage around fair value	85.00%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Threshold percentage around fair value	115.00%
Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan Disclosure [Line Items]
Regulatory assets	$ 833,843,000	506,186,000
Retirement benefits expense	$ 32,000,000	30,000,000	$ 32,000,000
Expected cash funding for qualified defined benefit plans
Maximum percentage of participant deferrals eligible for Employer contribution match, towards defined contribution plan	6.00%
Employer's additional matching contribution on employee deferrals (as a percent)	50.00%
Defined contribution plan, expenses recognized	$ 900,000	600,000
American Savings Bank (ASB)
Expected cash funding for qualified defined benefit plans
Maximum percentage of participant deferrals eligible for Employer contribution match, towards defined contribution plan	4.00%
Hawaii Electric Light Company, Inc. (HELCO)
Defined Benefit Plan Disclosure [Line Items]
Regulatory assets	$ 107,454,000	64,552,000		$ 12,800,000
Regulatory assets recovery period	5 years
Hawaiian Electric Company, Inc (HECO)
Defined Benefit Plan Disclosure [Line Items]
Regulatory assets	$ 623,784,000	$ 381,346,000
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Expected rate of return on plan assets (as a percent)	7.75%
Discount rate (as a percent)	4.22%	5.09%	4.13%
Pension expense	$ 32,000,000	$ 34,000,000	$ 35,000,000
Defined benefit pension plans with accumulated benefit obligations in excess of plan assets
Aggregate accumulated benefit obligations	1,500,000,000	1,200,000,000
Plan assets	1,200,000,000	1,100,000,000
Defined benefit plans with benefit obligations in excess of plan assets
Aggregate projected benefit obligations	1,700,000,000	1,400,000,000
Plan assets	1,200,000,000	1,100,000,000
Expected cash funding for qualified defined benefit plans
Estimate of contributions to postretirement benefit plans in 2015	85,000,000	0
Pension benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan Disclosure [Line Items]
Pension expense	31,000,000	30,000,000	$ 32,000,000
Defined benefit pension plans with accumulated benefit obligations in excess of plan assets
Aggregate accumulated benefit obligations	1,500,000,000	1,200,000,000
Plan assets	1,100,000,000	$ 1,058,260,000
Expected cash funding for qualified defined benefit plans
Estimate of contributions to postretirement benefit plans in 2015	$ 83,000,000
Other benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate (as a percent)	4.17%	5.03%	4.07%
Assumed health care trend rate for medical in next fiscal year (as a percent)	7.25%	7.50%
Assumed health care trend rate for grading down in 2024 and thereafter (as a percent)	5.00%	5.00%
Assumed health care trend rate for dental in next fiscal year (as a percent)	5.00%	5.00%
Assumed health care trend rate for vision in next fiscal year (as a percent)	4.00%	4.00%
Age threshold health care trend rates are adjusted	65 years
Percentage by which medical trend for post-65 is higher than pre-65, 2014	4.00%
Percentage by which medical trend for post-65 is higher than pre-65, 2015	3.00%
Postretirement benefits other than pension expense	$ 1,200,000	$ 400,000	$ 1,000,000
Effect of one-percentage-point increase in assumed health care cost trend rates that would have increased total service and interest cost	200,000
Effect of one-percentage-point increase in assumed health care cost trend rates that would have increased the accumulated postretirement benefit obligation (APBO)	3,800,000
Effect of one-percentage-point decrease that would have reduced total service and interest cost	300,000
Effect of one-percentage-point decrease that would have reduced APBO	4,600,000
Defined benefit pension plans with accumulated benefit obligations in excess of plan assets
Aggregate accumulated benefit obligations		400,000
Expected cash funding for qualified defined benefit plans
Estimate of contributions to postretirement benefit plans in 2015	500,000
2,015	76,000,000
2,016	79,000,000
2,017	83,000,000
2,018	87,000,000
2,019	91,000,000
2020 through 2024	520,000,000
Other benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan Disclosure [Line Items]
Postretirement benefits other than pension expense	1,000,000	$ 0	$ 400,000
Effect of one-percentage-point increase in assumed health care cost trend rates that would have increased total service and interest cost	200,000
Effect of one-percentage-point increase in assumed health care cost trend rates that would have increased the accumulated postretirement benefit obligation (APBO)	3,700,000
Effect of one-percentage-point decrease that would have reduced total service and interest cost	300,000
Effect of one-percentage-point decrease that would have reduced APBO	4,500,000
Expected cash funding for qualified defined benefit plans
Estimate of contributions to postretirement benefit plans in 2015	500,000
2,015	70,000,000
2,016	73,000,000
2,017	76,000,000
2,018	79,000,000
2,019	83,000,000
2020 through 2024	$ 476,000,000

Retirement benefits Changes in

Retirement benefits Changes in Projected Benefit Obligations and Fair Value of Plan Assets and Amounts Recognized in OCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pension benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, balance at the beginning of the period	$ 1,446,291	$ 1,590,304
Service cost	49,264	56,405	$ 43,221
Interest cost	72,202	64,788	67,480
Actuarial losses (gains)	342,446	(203,302)
Benefits paid and expenses	(62,975)	(61,904)
Benefit obligation, balance at the end of the period	1,847,228	1,446,291	1,590,304
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, balance at the beginning of the period	1,186,669	971,314
Actual return on plan assets	81,123	194,130
Employer contributions	60,103	82,083
Benefits paid and expenses	(61,835)	(60,858)
Fair value of plan assets, balance at the end of the period	1,266,060	1,186,669	971,314
Accrued benefit asset (liability), balance	(581,168)	(259,622)
Other assets	12,800	24,948
Defined benefit pension and other postretirement benefit plans liability	(593,968)	(284,570)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income [Roll Forward]
AOCI debit/(credit), balance at beginning of the period (excluding impact of PUC D&Os)	317,544	680,781
Recognized during year - net recognized transition obligation	0	0
Recognized during year - prior service credit (cost)	(88)	97
Recognized during year - net actuarial losses	(20,304)	(38,438)
Occurring during year - net actuarial losses (gains)	342,679	(324,896)
AOCI debit/(credit), balance at end of the period (excluding impact of PUC D&Os)	639,831	317,544	680,781
Cumulative impact of PUC D&Os	(592,291)	(294,266)
AOCI debit/(credit), balance at end of the period	47,540	23,278
Net actuarial loss (gain)	640,015	317,639
Prior service gain	(184)	(95)
Income taxes	(18,742)	(9,180)
AOCI debit/(credit), net of taxes (benefits) balance at the end of the period	28,798	14,098
Other benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, balance at the beginning of the period	176,099	194,135
Service cost	3,490	4,306	4,211
Interest cost	8,550	7,569	9,009
Actuarial losses (gains)	39,098	(21,743)
Benefits paid and expenses	(8,028)	(8,168)
Benefit obligation, balance at the end of the period	219,209	176,099	194,135
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, balance at the beginning of the period	179,330	156,731
Actual return on plan assets	9,149	29,164
Employer contributions	(257)	954
Benefits paid and expenses	(7,890)	(7,519)
Fair value of plan assets, balance at the end of the period	180,332	179,330	156,731
Accrued benefit asset (liability), balance	(38,877)	3,231
Other assets	0	7,200
Defined benefit pension and other postretirement benefit plans liability	(38,877)	(3,969)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income [Roll Forward]
AOCI debit/(credit), balance at beginning of the period (excluding impact of PUC D&Os)	(21,722)	18,846
Recognized during year - net recognized transition obligation	0	0
Recognized during year - prior service credit (cost)	1,793	1,793
Recognized during year - net actuarial losses	11	(1,602)
Occurring during year - net actuarial losses (gains)	40,851	(40,759)
AOCI debit/(credit), balance at end of the period (excluding impact of PUC D&Os)	20,933	(21,722)	18,846
Cumulative impact of PUC D&Os	(22,975)	19,206
AOCI debit/(credit), balance at end of the period	(2,042)	(2,516)
Net actuarial loss (gain)	35,022	(5,840)
Prior service gain	(14,089)	(15,882)
Income taxes	795	980
AOCI debit/(credit), net of taxes (benefits) balance at the end of the period	(1,247)	(1,536)
Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Defined benefit pension and other postretirement benefit plans liability	(595,395)	(262,162)
Hawaiian Electric Company, Inc. and Subsidiaries | Pension benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, balance at the beginning of the period	1,320,810	1,449,445
Service cost	47,597	54,482	41,603
Interest cost	65,979	59,119	61,453
Actuarial losses (gains)	314,210	(185,185)
Benefits paid and expenses	(57,819)	(57,051)
Benefit obligation, balance at the end of the period	1,690,777	1,320,810	1,449,445
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, balance at the beginning of the period	1,058,260	861,778
Actual return on plan assets	69,242	172,822
Employer contributions	58,948	80,325
Benefits paid and expenses	(57,445)	(56,665)
Fair value of plan assets, balance at the end of the period	1,129,005	1,058,260	861,778
Accrued benefit asset (liability), balance	(561,772)	(262,550)
Other assets	0	0
Other liabilities (short-term)	(421)	(388)
Defined benefit pension and other postretirement benefit plans liability	(561,351)	(262,162)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income [Roll Forward]
AOCI debit/(credit), balance at beginning of the period (excluding impact of PUC D&Os)	295,973	623,588
Recognized during year - net recognized transition obligation	0	0
Recognized during year - prior service credit (cost)	(62)	464
Recognized during year - net actuarial losses	(18,459)	(34,597)
Occurring during year - net actuarial losses (gains)	317,651	(293,482)
AOCI debit/(credit), balance at end of the period (excluding impact of PUC D&Os)	595,103	295,973	623,588
Cumulative impact of PUC D&Os	(592,291)	(294,266)
AOCI debit/(credit), balance at end of the period	2,812	1,707
Net actuarial loss (gain)	595,017	295,825
Prior service gain	86	148
Income taxes	(1,094)	(664)
AOCI debit/(credit), net of taxes (benefits) balance at the end of the period	1,718	1,043
Hawaiian Electric Company, Inc. and Subsidiaries | Other benefits
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, balance at the beginning of the period	169,579	187,110
Service cost	3,392	4,163	4,014
Interest cost	8,234	7,288	8,703
Actuarial losses (gains)	38,488	(20,900)
Benefits paid and expenses	(7,933)	(8,082)
Benefit obligation, balance at the end of the period	211,760	169,579	187,110
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, balance at the beginning of the period	176,291	154,186
Actual return on plan assets	9,036	28,700
Employer contributions	(274)	839
Benefits paid and expenses	(7,797)	(7,434)
Fair value of plan assets, balance at the end of the period	177,256	176,291	154,186
Accrued benefit asset (liability), balance	(34,504)	6,712
Other assets	0	7,200
Other liabilities (short-term)	(460)	(488)
Defined benefit pension and other postretirement benefit plans liability	(34,044)	0
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income [Roll Forward]
AOCI debit/(credit), balance at beginning of the period (excluding impact of PUC D&Os)	(21,907)	17,432
Recognized during year - net recognized transition obligation	0	0
Recognized during year - prior service credit (cost)	1,804	1,803
Recognized during year - net actuarial losses	0	(1,544)
Occurring during year - net actuarial losses (gains)	40,193	(39,598)
AOCI debit/(credit), balance at end of the period (excluding impact of PUC D&Os)	20,090	(21,907)	$ 17,432
Cumulative impact of PUC D&Os	(22,975)	19,206
AOCI debit/(credit), balance at end of the period	(2,885)	(2,701)
Net actuarial loss (gain)	34,192	(6,001)
Prior service gain	(14,102)	(15,906)
Income taxes	1,122	1,050
AOCI debit/(credit), net of taxes (benefits) balance at the end of the period	$ (1,763)	$ (1,651)

Retirement benefits Weighted Av

Retirement benefits Weighted Average Asset Allocation of Defined Benefit Retirement Plans and Weighted Average Assumptions(Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (as a percent)	100.00%	100.00%
Asset category, Target
Target (as a percent)	100.00%
Benefit obligation
Discount rate (as a percent)	4.22%	5.09%	4.13%
Rate of compensation increase (as a percent)	3.50%	3.50%	3.50%
Net periodic benefit cost (years ended)
Discount rate (as a percent)	5.09%	4.13%	5.19%
Expected return on plan assets (as a percent)	7.75%	7.75%	7.75%
Rate of compensation increase (as a percent)	3.50%	3.50%	3.50%
Pension benefits | Equity securities managers
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (as a percent)	73.00%	73.00%
Asset category, Target
Target (as a percent)	70.00%
Target minimum range (as a percent)	65.00%
Target maximum range (as a percent)	75.00%
Pension benefits | Fixed income securities managers
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (as a percent)	27.00%	27.00%
Asset category, Target
Target (as a percent)	30.00%
Target minimum range (as a percent)	25.00%
Target maximum range (as a percent)	35.00%
Other benefits
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (as a percent)	100.00%	100.00%
Asset category, Target
Target (as a percent)	100.00%
Benefit obligation
Discount rate (as a percent)	4.17%	5.03%	4.07%
Net periodic benefit cost (years ended)
Discount rate (as a percent)	5.03%	4.07%	4.90%
Expected return on plan assets (as a percent)	7.75%	7.75%	7.75%
Other benefits | Equity securities managers
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (as a percent)	72.00%	74.00%
Asset category, Target
Target (as a percent)	70.00%
Target minimum range (as a percent)	65.00%
Target maximum range (as a percent)	75.00%
Other benefits | Fixed income securities managers
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation (as a percent)	28.00%	26.00%
Asset category, Target
Target (as a percent)	30.00%
Target minimum range (as a percent)	25.00%
Target maximum range (as a percent)	35.00%

Retirement benefits Components

Retirement benefits Components of NPBC (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pension benefits
Defined benefit plans
Service cost	$ 49,264	$ 56,405	$ 43,221
Interest cost	72,202	64,788	67,480
Expected return on plan assets	(81,355)	(72,537)	(71,183)
Amortization of net transition obligation	0	0	1
Amortization of net prior service (gain) cost	88	(97)	(325)
Amortization of net actuarial loss (gain)	20,304	38,438	25,675
Net periodic benefit cost	60,503	86,997	64,869
Impact of PUC D&Os	(13,324)	(38,104)	(15,754)
Net periodic benefit cost (adjusted for impact of PUC D&Os)	47,179	48,893	49,115
Amounts amortized from AOCI or regulatory assets into net periodic pension benefit cost during 2015
Prior service credit	0
Net actuarial loss	35,800
Net transition obligation	0
Pension benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined benefit plans
Service cost	47,597	54,482	41,603
Interest cost	65,979	59,119	61,453
Expected return on plan assets	(72,661)	(64,551)	(64,004)
Amortization of net prior service (gain) cost	62	(464)	(689)
Amortization of net actuarial loss (gain)	18,459	34,597	23,428
Net periodic benefit cost	59,436	83,183	61,791
Impact of PUC D&Os	(13,324)	(38,104)	(15,754)
Net periodic benefit cost (adjusted for impact of PUC D&Os)	46,112	45,079	46,037
Amounts amortized from AOCI or regulatory assets into net periodic pension benefit cost during 2015
Prior service credit	0
Net actuarial loss	32,400
Net transition obligation	0
Other benefits
Defined benefit plans
Service cost	3,490	4,306	4,211
Interest cost	8,550	7,569	9,009
Expected return on plan assets	(10,902)	(10,147)	(10,336)
Amortization of net prior service (gain) cost	(1,793)	(1,793)	(1,793)
Amortization of net actuarial loss (gain)	(11)	1,602	1,498
Net periodic benefit cost	(666)	1,537	2,589
Impact of PUC D&Os	1,976	(1,458)	(2,227)
Net periodic benefit cost (adjusted for impact of PUC D&Os)	1,310	79	362
Amounts amortized from AOCI or regulatory assets into net periodic pension benefit cost during 2015
Prior service credit	(1,800)
Net actuarial loss	1,700
Net transition obligation	0
Other benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined benefit plans
Service cost	3,392	4,163	4,014
Interest cost	8,234	7,288	8,703
Expected return on plan assets	(10,739)	(10,002)	(10,195)
Amortization of net transition obligation	0	0	(9)
Amortization of net prior service (gain) cost	(1,804)	(1,803)	(1,803)
Amortization of net actuarial loss (gain)	0	1,544	1,455
Net periodic benefit cost	(917)	1,190	2,165
Impact of PUC D&Os	1,976	(1,458)	(2,227)
Net periodic benefit cost (adjusted for impact of PUC D&Os)	1,059	$ (268)	$ (62)
Amounts amortized from AOCI or regulatory assets into net periodic pension benefit cost during 2015
Prior service credit	(1,800)
Net actuarial loss	1,700
Net transition obligation	$ 0

Share-based compensation Additi

Share-based compensation Additional Information (Details) $ in Millions	Mar. 01, 2014shares	Dec. 31, 2014USD ($)incrementshares	Dec. 31, 2013USD ($)shares	Dec. 31, 2012USD ($)shares
Share-based compensation
Income tax benefit (in dollars)		$ 3.4	$ 2.8	$ 2.4
Equity and Incentive Plan (EIP)
Share-based compensation
Additional shares available for issuance | shares	1,500,000
Shares remaining available for future issuance | shares		3,600,000
Shares that can be issued upon vesting of outstanding units and achievement of performance goals | shares		900,000
Stock Option and Incentive Plan (SOIP)
Share-based compensation
Outstanding shares | shares		17,000
Period of time from grant date after which awards become unrestricted		4 years
Nonemployee Director Stock Plan
Share-based compensation
Shares remaining available for future issuance | shares		169,290
Long-term incentive plan (LTIP)
Share-based compensation
Performance period		3 years
Exception to forfeiture, minimum requisite service period		12 months
Payout low end of range (as a percent)		0.00%
Payout high end of range (as a percent)		200.00%
Stock appreciation rights (SARs)
Share-based compensation
Intrinsic value of equity instruments other than options, vested		$ 0.6
Expired (in shares) | shares		0	0	4,000
Stock appreciation rights (SARs) | Stock Option and Incentive Plan (SOIP)
Share-based compensation
Percentage of award exercisable in installments		25.00%
Period during which the award vests and becomes exercisable in installments		4 years
Period award expires if not exercised		10 years
Restricted shares
Share-based compensation
Fair value of vested stock (in dollars)		$ 0.1	$ 0.1	$ 0.9
Income tax benefit (in dollars)				$ 0.2
Shares vested | shares		4,503	4,502	37,802
Restricted shares | Equity and Incentive Plan (EIP)
Share-based compensation
The number of equal annual increments for which the awards become unrestricted (in installments) | increment		4
Restricted stock units
Share-based compensation
Fair value of vested stock (in dollars)		$ 4.1	$ 3.7	$ 0.7
Income tax benefit (in dollars)		1.2	$ 0.9	$ 0.2
Unrecognized compensation cost		$ 4.4
Weighted-average period over which unrecognized compensation cost expected to be recognized		2 years 5 months 24 days
Shares vested | shares		144,702	118,885	25,728
LTIP linked to TRS
Share-based compensation
Fair value of vested stock (in dollars)		$ 0	$ 2.2	$ 0.6
Income tax benefit (in dollars)		0	$ 0.9	$ 0.2
Unrecognized compensation cost		$ 2.2
Weighted-average period over which unrecognized compensation cost expected to be recognized		1 year 6 months
Shares vested | shares		70,189	87,753	35,397
Shares settled | shares		70,205
Expired (in shares) | shares		17,548
LTIP awards linked to other performance conditions
Share-based compensation
Fair value of vested stock (in dollars)		$ 1.9	$ 0.6
Income tax benefit (in dollars)		$ 0.8	$ 0.2
Shares vested | shares		65,089	18,280	0
2012-2014 LTIP linked to other performance conditions
Share-based compensation
Unrecognized compensation cost		$ 3.4
Weighted-average period over which unrecognized compensation cost expected to be recognized		1 year 6 months

Share-based compensation Share-

Share-based compensation Share-based Compensation Expense and Related Income Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense (in dollars)	$ 9,300	$ 7,800	$ 6,700
Income tax benefit (in dollars)	3,400	2,800	2,400
Capitalized share-based compensation expense	160	110	80
Hawaiian Electric Company, Inc. and Subsidiaries
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense (in dollars)	3,100	2,300	1,800
Income tax benefit (in dollars)	$ 1,200	$ 900	$ 700

Share-based compensation The 20

Share-based compensation The 2011 Director Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Income tax benefit (in dollars)	$ 3.4	$ 2.8	$ 2.4
Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	33,170	33,184	29,448
Fair value of vested stock (in dollars)	$ 0.8	$ 0.8	$ 0.8
Income tax benefit (in dollars)	$ 0.3	$ 0.3	$ 0.3

Share-based compensation Nonqua

Share-based compensation Nonqualified Stock Options (Details) - Nonqualified stock options (NQSOs) - $ / shares	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the beginning of the period (in shares)	14,000	55,500
Outstanding, at the beginning of the period (in dollars per share)	$ 20.49	$ 20.92
Granted (in shares)	0	0
Granted (in dollars per share)	$ 0	$ 0
Exercised (in shares)	(14,000)	(41,500)
Exercised (in dollars per share)	$ 20.49	$ 21.06
Forfeited (in shares)	0	0
Forfeited (in dollars per share)	$ 0	$ 0
Expired (in shares)	0	0
Expired (in dollars per share)	$ 0	$ 0
Outstanding at the end of the period (in shares)	0	14,000
Outstanding, at the end of the period (in dollars per share)	$ 0	$ 20.49
Exercisable (in shares)	0	14,000
Exercisable (in dollars per share)	$ 0	$ 20.49

Share-based compensation Non104

Share-based compensation Nonqualified Stock Option Activity and Statistics (Details) - Nonqualified stock options (NQSOs) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from exercise (in dollars)	$ 287	$ 874
Intrinsic value of shares exercised (in dollars)	128	354
Tax benefit realized for the deduction of exercises (in dollars)	$ 50	$ 138

Share-based compensation Stock

Share-based compensation Stock Appreciation Rights (Details) - Stock appreciation rights (SARs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation, Stock Appreciation Rights [Roll Forward]
Outstanding, beginning of period (in shares)	164,000	164,000	282,000
Outstanding at the beginning of the period (in dollars per share)	$ 26.12	$ 26.12	$ 26.14
Granted (in shares)	0	0	0
Granted (in dollars per share)	$ 0	$ 0	$ 0
Exercised (in shares)	(22,000)	0	(114,000)
Exercised (in dollars per share)	$ 26.18	$ 0	$ 26.17
Forfeited (in shares)	(62,000)	0	0
Forfeited (in dollars per share)	$ 26.02	$ 0	$ 0
Expired (in shares)	0	0	(4,000)
Expired (in dollars per share)	$ 0	$ 0	$ 26.18
Outstanding, end of period (in shares)	80,000	164,000	164,000
Outstanding at the end of the period (in dollars per share)	$ 26.18	$ 26.12	$ 26.12
Exercisable (in shares)	80,000	164,000	164,000
Exercisable (in dollars per share)	$ 26.18	$ 26.12	$ 26.12
Intrinsic value of shares exercised	$ 29	$ 0	$ 197
Tax benefit realized for the deduction of exercises	$ 11	$ 0	$ 77
2,005
Share-based Compensation, Stock Appreciation Rights [Roll Forward]
Number of shares underlying SARs	80,000
Weighted-average remaining contractual life	3 months 18 days
Weighted-average exercise price of shares outstanding and exercisable (in dollars per share)	$ 26.18

Share-based compensation Restri

Share-based compensation Restricted Shares and Restricted Stock Awards (Details) - Restricted shares - $ / shares	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation, Restricted Shares [Roll Forward]
Outstanding, beginning of period (in shares)	4,503	9,005	46,807
Outstanding, beginning of period (in dollars per share)	$ 22.21	$ 22.21	$ 24.45
Granted (in shares)	0	0	0
Granted (in dollars per share)	$ 0	$ 0	$ 0
Vested (in shares)	(4,503)	(4,502)	(37,802)
Vested (in dollars per share)	$ 22.21	$ 22.21	$ 24.99
Forfeited (in shares)	0	0	0
Forfeited (in dollars per share)	$ 0	$ 0	$ 0
Outstanding, end of period (in shares)	0	4,503	9,005
Outstanding, end of period (in dollars per share)	$ 0	$ 22.21	$ 22.21

Share-based compensation Res107

Share-based compensation Restricted Stock Units (Details) - Restricted stock units - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation, Restricted Stock Units [Roll Forward]
Outstanding, beginning of period (in shares)	288,151	315,094	247,286
Outstanding, beginning of period (in dollars per share)	$ 25.17	$ 22.82	$ 21.80
Granted (in shares)	117,786	111,231	98,446
Granted (in dollars per share)	$ 25.17	$ 26.88	$ 25.99
Vested (in shares)	(144,702)	(118,885)	(25,728)
Vested (in dollars per share)	$ 24.09	$ 20.48	$ 24.68
Forfeited (in shares)	0	(19,289)	(4,910)
Forfeited (in dollars per share)	$ 0	$ 25.62	$ 24.92
Outstanding, end of period (in shares)	261,235	288,151	315,094
Outstanding, end of period (in dollars per share)	$ 25.77	$ 25.17	$ 22.82
Total weighted-average grant-date fair value	$ 3	$ 3	$ 2.6

Share-based compensation LTIP L

Share-based compensation LTIP Linked to TRS (Details) - LTIP linked to TRS - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation, Long Term Incentive Plan [Roll Forward]
Outstanding, beginning of period (in shares)	232,127	239,256	197,385
Outstanding, beginning of period (in dollars per share)	$ 32.88	$ 29.12	$ 25.94
Granted (in shares)	97,524	91,038	81,223
Granted (in dollars per share)	$ 22.95	$ 32.69	$ 30.71
Vested (in shares)	(70,189)	(87,753)	(35,397)
Vested (in dollars per share)	$ 35.46	$ 22.45	$ 14.85
Forfeited (in shares)	(1,506)	(10,414)	(3,955)
Forfeited (in dollars per share)	$ 28.32	$ 32.72	$ 30.82
Outstanding, end of period (in shares)	257,956	232,127	239,256
Outstanding, end of period (in dollars per share)	$ 28.45	$ 32.88	$ 29.12
Total weighted-average grant-date fair value	$ 2.2	$ 3	$ 2.5

Share-based compensation Assump

Share-based compensation Assumptions to Determine the Fair Value of LTIP Awards Linked to TRS (Details) - LTIP linked to TRS - $ / shares	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (as a percent)	0.66%	0.38%	0.33%
Expected life	3 years	3 years	3 years
Expected volatility (as a percent)	17.80%	19.40%	25.30%
Range of expected volatility for Peer Group, minimum (as a percent)	12.40%	12.40%	15.50%
Range of expected volatility for Peer Group, maximum (as a percent)	23.30%	25.30%	34.50%
Grant date fair value (in dollars per share)	$ 22.95	$ 32.69	$ 30.71

Share-based compensation LTIP A

Share-based compensation LTIP Awards Linked To Other Performance Conditions (Details) - LTIP awards linked to other performance conditions - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation, Long Term Incentive Plan [Roll Forward]
Outstanding, beginning of period (in shares)	296,843	247,175	182,498
Outstanding, beginning of period (in dollars per share)	$ 26.14	$ 25.04	$ 22.63
Granted (in shares)	129,603	120,399	125,157
Granted (in dollars per share)	$ 25.18	$ 26.89	$ 26.05
Vested (in shares)	(65,089)	(18,280)	0
Vested (in dollars per share)	$ 24.95	$ 18.95	$ 0
Increased above target (cancelled) (in shares)	4,949	(41,599)	(50,786)
Increased above target (cancelled) (in dollars per share)	$ 26.70	$ 24.97	$ 18.95
Forfeited (in shares)	(1,575)	(10,852)	(9,694)
Forfeited (in dollars per share)	$ 26.07	$ 26.20	$ 24.44
Outstanding, end of period (in shares)	364,731	296,843	247,175
Outstanding, end of period (in dollars per share)	$ 26.01	$ 26.14	$ 25.04
Total weighted-average grant-date fair value	$ 3.3	$ 3.2	$ 3.3

Income taxes Additional Informa

Income taxes Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Expense (Benefit) [Line Items]
Federal current taxes	$ (10,970)	$ (1,520)	$ (15,411)
Federal deferred taxes	$ 91,159	$ 73,680	$ 82,138
Reconciliation percentage of amount of income taxes computed at federal statutory rate	35.00%	35.00%	35.00%
Amount of decrease in deferred taxes related to tax gross-up of AFUDC-equity		$ 3,500
Out-of-period income tax benefit		3,100
Out-of-period tax benefit related to utilities		2,700
Credit adjustments to interest expense on income taxes	$ 1,700	300	$ 1,400
Amount of accrued interest related to uncertain tax positions		400
Difference
Income Tax Expense (Benefit) [Line Items]
Federal current taxes	(44,732)
Federal deferred taxes	44,732
Hawaiian Electric Company, Inc. and Subsidiaries
Income Tax Expense (Benefit) [Line Items]
Federal current taxes	1,108	1,313	(26,965)
Federal deferred taxes	68,775	58,024	79,437
Net operating loss carryforwards	52,000
Credit adjustments to interest expense on income taxes	$ 700	$ 300	$ 500

Income taxes Components of Inco

Income taxes Components of Income Taxes Attributable to Net Income for Common Stock (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Federal
Federal current taxes	$ (10,970)	$ (1,520)	$ (15,411)
Federal deferred taxes	91,159	73,680	82,138
Deferred tax credits, net	0	224	187
Federal taxes	80,189	72,384	66,914
State
Current	(7,339)	(1,555)	(4,654)
Deferred	12,756	6,719	8,710
Deferred tax credits, net	6,106	6,793	5,889
State taxes	11,523	11,957	9,945
Federal and state taxes	91,712	84,341	76,859
Hawaiian Electric Company, Inc. and Subsidiaries
Federal
Federal current taxes	1,108	1,313	(26,965)
Federal deferred taxes	68,775	58,024	79,437
Deferred tax credits, net	0	224	186
Federal taxes	69,883	59,561	52,658
State
Current	(9,436)	(3,720)	(4,940)
Deferred	14,172	6,483	7,441
Deferred tax credits, net	6,106	6,793	5,889
State taxes	10,842	9,556	8,390
Federal and state taxes	$ 80,725	$ 69,117	$ 61,048

Income taxes Income Tax Reconci

Income taxes Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Expense (Benefit) [Line Items]
Amount at the federal statutory income tax rate	$ 91,672	$ 86,711	$ 76,092
Increase (decrease) resulting from:
State income taxes, net of effect on federal income taxes	7,490	7,772	6,464
Other, net	(7,450)	(10,142)	(5,697)
Federal and state taxes	$ 91,712	$ 84,341	$ 76,859
Effective income tax rate (as a percent)	35.00%	34.00%	35.40%
Hawaiian Electric Company, Inc. and Subsidiaries
Income Tax Expense (Benefit) [Line Items]
Amount at the federal statutory income tax rate	$ 77,126	$ 67,914	$ 56,812
Increase (decrease) resulting from:
State income taxes, net of effect on federal income taxes	7,047	6,211	5,453
Other, net	(3,448)	(5,008)	(1,217)
Federal and state taxes	$ 80,725	$ 69,117	$ 61,048
Effective income tax rate (as a percent)	36.60%	35.60%	37.60%

Income taxes Deferred Tax Asset

Income taxes Deferred Tax Assets and Liabilities Due to Book/Tax Differences (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Deferred tax assets
Net operating loss	$ 0	$ 0
Other	58,352	57,239
Total deferred tax assets	58,352	57,239
Deferred tax liabilities
Property, plant and equipment	448,723	378,280
Repairs deduction	86,408	75,127
Regulatory assets, excluding amounts attributable to property, plant and equipment	33,795	33,251
Deferred RAM and RBA revenues	32,889	0
Retirement benefits	25,336	29,280
Other	62,935	70,561
Total deferred tax liabilities	690,086	586,499
Deferred income taxes (credit)	631,734	529,260
Total deferred tax liabilities	631,734	529,260
Prepayments and other (Current assets-debit)
Deferred tax liabilities
Total deferred tax liabilities	0	0
Other (Current liabilities-credit)
Deferred tax liabilities
Total deferred tax liabilities	0	0
Hawaiian Electric Company, Inc. and Subsidiaries
Deferred tax assets
Net operating loss	51,936	19,848
Other	17,663	17,295
Total deferred tax assets	69,599	37,143
Deferred tax liabilities
Property, plant and equipment	446,259	375,771
Repairs deduction	86,408	75,127
Regulatory assets, excluding amounts attributable to property, plant and equipment	33,795	33,251
Deferred RAM and RBA revenues	32,889
Retirement benefits	28,758	23,851
Other	14,929	15,602
Total deferred tax liabilities	643,038	523,602
Deferred income taxes (credit)	602,872	507,161
Total deferred tax liabilities	573,439	486,459
Hawaiian Electric Company, Inc. and Subsidiaries | Prepayments and other (Current assets-debit)
Deferred tax liabilities
Total deferred tax liabilities	(32,915)	(20,702)
Hawaiian Electric Company, Inc. and Subsidiaries | Other (Current liabilities-credit)
Deferred tax liabilities
Total deferred tax liabilities	$ 3,482	$ 0

Income taxes Changes in Unrecog

Income taxes Changes in Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Changes in total unrecognized tax benefits
Unrecognized tax benefits, at the beginning of the period	$ 0.9	$ 0.8	$ 5.7
Additions based on tax positions taken during the year	0	0	0.3
Reductions based on tax positions taken during the year	0	0	0
Additions for tax positions of prior years	0.1	0.5	0
Reductions for tax positions of prior years	0	(0.4)	(4.1)
Settlements	(1)	0	0
Lapses of statute of limitations	0	0	(1.1)
Unrecognized tax benefits, at the end of the period	0	0.9	0.8
Hawaiian Electric Company, Inc. and Subsidiaries
Changes in total unrecognized tax benefits
Unrecognized tax benefits, at the beginning of the period	0.5	0.4	3.7
Additions based on tax positions taken during the year	0	0	0.3
Reductions based on tax positions taken during the year	0	0	0
Additions for tax positions of prior years	0.1	0.5	0
Reductions for tax positions of prior years	0	(0.4)	(3.6)
Settlements	(0.6)	0	0
Lapses of statute of limitations	0	0	0
Unrecognized tax benefits, at the end of the period	$ 0	$ 0.5	$ 0.4

Cash flows (Details)

Cash flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012
Supplemental disclosures of cash flow information
Interest paid to non-affiliates	$ 84,000	$ 85,000		$ 84,000
Income taxes paid	47,000	18,000		17,000
Income taxes refunded	24,000	4,000		31,000
Supplemental disclosures of noncash activities
Common stock dividends reinvested in HEI common stock	0	24,000		24,000
Loans transferred from held for investment to held for sale	0	25,000		0
Real estate acquired in settlement of loans	3,000	4,000		11,000
Obligations to fund low income housing investments, net	14,000	1,000		0
Electric utility property, plant and equipment
AFUDC-equity	6,771	5,561	[1]	7,007	[1]
Unpaid invoices and other	43,000	(12,000)		(8,000)
Hawaiian Electric Company, Inc. and Subsidiaries
Supplemental disclosures of cash flow information
Interest paid to non-affiliates	61,000	59,000		57,000
Income taxes paid	6,000	6,000		6,000
Income taxes refunded	8,000	32,000		9,000
Electric utility property, plant and equipment
AFUDC-equity	6,771	5,561	[1]	7,007	[1]
Estimated fair value of noncash contributions in aid of construction	3,000	5,000		10,000
Unpaid invoices and other	$ 40,000	$ (12,000)		$ (8,000)
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

Regulatory restrictions on n117

Regulatory restrictions on net assets (Details) $ in Millions	Dec. 31, 2014USD ($)
Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory restrictions on net assets
Restrictions on transfer of net assets to the parent in the form of cash dividends, loans and advances	$ 668
American Savings Bank (ASB)
Regulatory restrictions on net assets
Amount of net assets available for transfer	$ 103

Significant group concentrat118

Significant group concentrations of credit risk (Details)	12 Months Ended
	Dec. 31, 2014
Risks and Uncertainties [Abstract]
Percentage of benchmark loan to appraisal ratio in excess of which mortgage insurance is required	80.00%

Fair value measurements Fair Va

Fair value measurements Fair Value Hierarchy of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Financial assets
Available-for-sale investment securities	$ 550,394	$ 529,007
Financial liabilities
Short-term borrowings-other than bank	118,972	105,482
Other bank borrowings	290,656	244,514
Carrying or notional amount
Financial assets
Money market funds	10	10
Available-for-sale investment securities	550,394	529,007
Stock in Federal Home Loan Bank of Seattle	69,302	92,546
Loans receivable, net	4,397,457	4,115,415
Derivative assets	30,120	46,356
Financial liabilities
Deposit liabilities	4,623,415	4,372,477
Short-term borrowings-other than bank	118,972	105,482
Other bank borrowings	290,656	244,514
Long-term debt, net-other than bank	1,506,546	1,492,945
Derivative liabilities	32,043	4,732
Estimated fair value
Financial assets
Money market funds	10	10
Available-for-sale investment securities	550,394	529,007
Stock in Federal Home Loan Bank of Seattle	69,302	92,546
Loans receivable, net	4,578,822	4,211,290
Derivative assets	398	629
Financial liabilities
Deposit liabilities	4,623,773	4,374,377
Short-term borrowings-other than bank	118,972	105,482
Other bank borrowings	298,837	256,029
Long-term debt, net-other than bank	1,622,736	1,508,425
Derivative liabilities	114	26
Estimated fair value | Level 1
Financial assets
Derivative assets		98
Financial liabilities
Derivative liabilities	71
Estimated fair value | Level 2
Financial assets
Money market funds	10	10
Available-for-sale investment securities	550,394	529,007
Stock in Federal Home Loan Bank of Seattle	69,302	92,546
Derivative assets	398	531
Financial liabilities
Deposit liabilities	4,623,773	4,374,377
Short-term borrowings-other than bank	118,972	105,482
Other bank borrowings	298,837	256,029
Long-term debt, net-other than bank	1,622,736	1,508,425
Derivative liabilities	43	26
Estimated fair value | Level 3
Financial assets
Loans receivable, net	4,578,822	4,211,290
Hawaiian Electric Company, Inc. and Subsidiaries | Carrying or notional amount
Financial liabilities
Long-term debt, net-other than bank	1,206,546	1,217,945
Hawaiian Electric Company, Inc. and Subsidiaries | Estimated fair value
Financial liabilities
Long-term debt, net-other than bank	1,313,893	1,228,966
Hawaiian Electric Company, Inc. and Subsidiaries | Estimated fair value | Level 2
Financial liabilities
Long-term debt, net-other than bank	$ 1,313,893	$ 1,228,966

Fair value measurements Additio

Fair value measurements Additional Information (Details) - American Savings Bank (ASB) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Carrying or notional amount
Fair value measurements on a recurring and nonrecurring basis
Notional amount of loans serviced	$ 1,400	$ 1,400
Estimated fair value
Fair value measurements on a recurring and nonrecurring basis
Servicing rights on loans	$ 14.5	$ 15.7

Fair value measurements Fair121

Fair value measurements Fair Value Measurements on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities, at fair value	$ 550,394	$ 529,007
Mortgage-related securities-FNMA, FHLMC and GNMA
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities, at fair value	430,834	369,444
U.S. Treasury and federal agency obligations
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities, at fair value	119,560
Municipal bonds
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities, at fair value		78,590
Fair value measurements on a recurring basis | Level 1
Fair value measurements on a recurring and nonrecurring basis
Derivative assets		98
Derivative liabilities	71
Fair value measurements on a recurring basis | Level 1 | Interest Rate Lock Commitments
Fair value measurements on a recurring and nonrecurring basis
Derivative assets		0
Derivative liabilities	0
Fair value measurements on a recurring basis | Level 1 | Forward Contracts
Fair value measurements on a recurring and nonrecurring basis
Derivative assets		98
Derivative liabilities	71
Fair value measurements on a recurring basis | Level 2
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	398	531
Derivative liabilities	43	26
Fair value measurements on a recurring basis | Level 2 | Interest Rate Lock Commitments
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	393	488
Derivative liabilities	3	24
Fair value measurements on a recurring basis | Level 2 | Forward Contracts
Fair value measurements on a recurring and nonrecurring basis
Derivative assets	5	43
Derivative liabilities	40	2
Fair value measurements on a recurring basis | Level 2 | Bank
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities, at fair value	550,394	529,007
Fair value measurements on a recurring basis | Level 2 | Bank | Mortgage-related securities-FNMA, FHLMC and GNMA
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities, at fair value	430,834	369,444
Fair value measurements on a recurring basis | Level 2 | Bank | U.S. Treasury and federal agency obligations
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities, at fair value	119,560	80,973
Fair value measurements on a recurring basis | Level 2 | Bank | Municipal bonds
Fair value measurements on a recurring and nonrecurring basis
Available-for-sale investment securities, at fair value	0	78,590
Fair value measurements on a recurring basis | Level 2 | Other
Fair value measurements on a recurring and nonrecurring basis
Money market funds	$ 10	$ 10

Fair value measurements Fair122

Fair value measurements Fair Value Measurements on a Nonrecurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Estimated fair value
Fair value measurements on a recurring and nonrecurring basis
Loans	$ 4,578,822	$ 4,211,290
Level 3 | Estimated fair value
Fair value measurements on a recurring and nonrecurring basis
Loans	4,578,822	4,211,290
Fair value measurements on a nonrecurring basis | Estimated fair value
Fair value measurements on a recurring and nonrecurring basis
Loans	2,000	4,000
Tax credit investments	9,000
Real estate acquired in settlement of loans	0	0
Fair value measurements on a nonrecurring basis | Level 3
Fair value measurements on a recurring and nonrecurring basis
Loans	2,000	4,000
Tax credit investments	9,000
Real estate acquired in settlement of loans	$ 0	$ 0

Fair value measurements Quantit

Fair value measurements Quantitative Information About Level 3 Fair Value Measurements (Details) - Level 3 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Residential loan | Fair value of property or collateral
Fair value measurements
Fair value	$ 2,297	$ 2,361
Appraised value, weighted average rate (as a percent)	83.00%	87.00%
Residential loan | Fair value of property or collateral | Minimum
Fair value measurements
Appraised value (as a percent)	39.00%	44.00%
Residential loan | Fair value of property or collateral | Maximum
Fair value measurements
Appraised value (as a percent)	99.00%	96.00%
Home equity line of credit | Fair value of property or collateral
Fair value measurements
Fair value	$ 3	$ 170
Appraised value, weighted average rate (as a percent)	7.00%	50.00%
Home equity line of credit | Fair value of property or collateral | Minimum
Fair value measurements
Appraised value (as a percent)		45.00%
Home equity line of credit | Fair value of property or collateral | Maximum
Fair value measurements
Appraised value (as a percent)		50.00%
Commercial loan 1 | Fair value of property or collateral
Fair value measurements
Fair value	$ 145	$ 217
Fair value of business assets (as a percent)	91.00%	19.00%
Tax credit investments
Fair value measurements
Fair value	$ 8,975
Tax credit investments | Fair value of property or collateral | Minimum
Fair value measurements
Appraised value (as a percent)	5.00%
Tax credit investments | Fair value of property or collateral | Maximum
Fair value measurements
Appraised value (as a percent)	93.00%
Tax credit investments | Discounted cash flow
Fair value measurements
Fair value of business assets (as a percent)	88.00%
Weighted average discount rate	7.00%
Loans
Fair value measurements
Fair value	$ 2,445	$ 4,416
Real estate acquired in settlement of loans | Fair value of property or collateral
Fair value measurements
Fair value	$ 288
Appraised value, weighted average rate (as a percent)	100.00%
Appraised value (as a percent)	100.00%
Commercial loan 2 | Discounted cash flow
Fair value measurements
Fair value		$ 1,668
Present value of expected future cash flows (as a percent)		58.00%
Weighted average discount rate		4.50%

Fair value measurements Assets

Fair value measurements Assets Held in Trusts for Retirement Benefits (Details) - Fair value measurements on a recurring basis - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Estimated fair value | Pension benefits
Fair value measurements on a recurring basis
Total assets	$ 1,291	$ 1,233
Cash, receivables and payables, net	(25)	(46)
Fair value of plan assets	1,266	1,187
Estimated fair value | Pension benefits | Equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	649	672
Estimated fair value | Pension benefits | Equity index funds
Fair value measurements on a recurring basis
Fair value of plan assets	132	127
Estimated fair value | Pension benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	428	350
Estimated fair value | Pension benefits | Pooled and mutual funds and other
Fair value measurements on a recurring basis
Fair value of plan assets	82	84
Estimated fair value | Other benefits
Fair value measurements on a recurring basis
Total assets	181	180
Cash, receivables and payables, net	(1)	(1)
Fair value of plan assets	180	179
Estimated fair value | Other benefits | Equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	99	102
Estimated fair value | Other benefits | Equity index funds
Fair value measurements on a recurring basis
Fair value of plan assets	19	19
Estimated fair value | Other benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	49	46
Estimated fair value | Other benefits | Pooled and mutual funds and other
Fair value measurements on a recurring basis
Fair value of plan assets	14	13
Level 1 | Pension benefits
Fair value measurements on a recurring basis
Total assets	903	921
Level 1 | Pension benefits | Equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	649	672
Level 1 | Pension benefits | Equity index funds
Fair value measurements on a recurring basis
Fair value of plan assets	132	127
Level 1 | Pension benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	121	122
Level 1 | Pension benefits | Pooled and mutual funds and other
Fair value measurements on a recurring basis
Fair value of plan assets	1	0
Level 1 | Other benefits
Fair value measurements on a recurring basis
Total assets	164	161
Level 1 | Other benefits | Equity securities
Fair value measurements on a recurring basis
Fair value of plan assets	99	102
Level 1 | Other benefits | Equity index funds
Fair value measurements on a recurring basis
Fair value of plan assets	19	19
Level 1 | Other benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	43	40
Level 1 | Other benefits | Pooled and mutual funds and other
Fair value measurements on a recurring basis
Fair value of plan assets	3
Level 2 | Pension benefits
Fair value measurements on a recurring basis
Total assets	388	311
Level 2 | Pension benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	307	228
Level 2 | Pension benefits | Pooled and mutual funds and other
Fair value measurements on a recurring basis
Fair value of plan assets	81	83
Level 2 | Other benefits
Fair value measurements on a recurring basis
Total assets	17	19
Level 2 | Other benefits | Fixed income securities
Fair value measurements on a recurring basis
Fair value of plan assets	6	6
Level 2 | Other benefits | Pooled and mutual funds and other
Fair value measurements on a recurring basis
Fair value of plan assets	11	13
Level 3 | Pension benefits
Fair value measurements on a recurring basis
Total assets	0	1
Level 3 | Pension benefits | Pooled and mutual funds and other
Fair value measurements on a recurring basis
Fair value of plan assets	$ 0	$ 1

Fair value measurements Changes

Fair value measurements Changes in Level 3 Assets (Details) - Level 3 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Pension benefits
Changes in Level 3 assets
Balance at the beginning of the period	$ 580	$ 581
Realized and unrealized losses	(203)	(1)
Purchases and settlements, net	(282)	0
Balance at the end of the period	95	580
Other benefits
Changes in Level 3 assets
Balance at the beginning of the period	18	18
Realized and unrealized losses	(6)	0
Purchases and settlements, net	(8)	0
Balance at the end of the period	$ 4	$ 18

Quarterly information (unaud126

Quarterly information (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 790,040	$ 867,096	$ 798,657	$ 783,749	$ 832,503	$ 829,168	$ 794,567	$ 782,232	$ 3,239,542	$ 3,238,470		$ 3,374,995
Operating income	67,241	91,102	82,275	88,306	78,349	88,038	80,207	68,825	328,924	315,419		284,196
Net income	33,630	48,286	41,894	46,400	39,486	48,707	41,061	34,152	170,210	163,406	[1]	140,548	[1]
Net income for common stock	$ 33,157	$ 47,815	$ 41,421	$ 45,927	$ 39,013	$ 48,236	$ 40,588	$ 33,679	$ 168,320	$ 161,516		$ 138,658
Basic earnings per common share (in dollars per share)	$ 0.32	$ 0.47	$ 0.41	$ 0.45	$ 0.39	$ 0.49	$ 0.41	$ 0.34	$ 1.65	$ 1.63		$ 1.43
Diluted earnings per common share (in dollars per share)	0.32	0.46	0.41	0.45	0.39	0.48	0.41	0.34	1.64	1.62		1.42
Dividends per common share (in dollars per share)	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	1.24	1.24		$ 1.24
Market price per common share
High end of range (in dollars per share)	35	26.89	25.65	26.80	27.15	27.24	28.30	27.92	35	28.30
Low end of range (in dollars per share)	$ 26.04	$ 22.71	$ 23.04	$ 24.39	$ 24.51	$ 24.12	$ 23.84	$ 25.50	$ 22.71	$ 23.84
Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 725,267	$ 803,565	$ 738,429	$ 720,062	$ 770,152	$ 764,054	$ 728,525	$ 717,441	$ 2,987,323	$ 2,980,172		$ 3,109,439
Operating income	58,878	76,156	70,068	70,666	65,564	69,853	58,975	51,121	275,768	245,513		213,012
Net income	29,611	39,377	34,729	35,919	32,489	38,315	29,192	24,928	139,636	124,924	[1]	101,271	[1]
Net income for common stock	$ 29,112	$ 38,879	$ 34,230	$ 35,420	$ 31,990	$ 37,817	$ 28,693	$ 24,429	$ 137,641	$ 122,929		$ 99,276
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

SCHEDULE I - CONDENSED FINAN127

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT- Balance Sheets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
ASSETS
Cash and cash equivalents	$ 175,542,000	$ 220,036,000	[1]	$ 219,662,000	[1]	$ 270,265,000	[1]
Accounts receivable	313,696,000	346,785,000
Property, plant and equipment, net	4,148,774,000	3,865,514,000
Other assets	541,542,000	512,627,000
Total assets	11,184,161,000	10,340,044,000
Liabilities
Accounts payable	186,425,000	212,331,000
Long-term debt	1,506,546,000	1,492,945,000
Retirement benefits liability	632,845,000	288,539,000
Other	531,230,000	524,224,000
Total liabilities	9,358,440,000	8,578,681,000
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: 102,565,266 shares and 101,259,800 shares at December 31, 2014 and 2013, respectively	1,521,297,000	1,488,126,000
Retained earnings	297,509,000	255,694,000
Accumulated other comprehensive loss	(27,378,000)	(16,750,000)		(26,423,000)		(19,137,000)
Total shareholders' equity	1,791,428,000	1,727,070,000		1,593,865,000		1,528,706,000
Total liabilities and shareholders' equity	11,184,161,000	$ 10,340,044,000
Aggregate principal payments
2,015	0
2,016	200,000,000
2,017	0
2,018	50,000,000
2,019	$ 0
Preferred stock, authorized shares	10,000,000	10,000,000
Common stock, authorized shares	200,000,000	200,000,000
Common stock, issued shares	102,565,266	101,259,800
Common stock, outstanding shares	102,565,266	101,259,800
Deferred income taxes	$ 631,734,000	$ 529,260,000
Self-insured United States longshore & Harbor bond
Aggregate principal payments
Guarantee obligation maximum exposure	200,000
Self-insured automobile bond
Aggregate principal payments
Guarantee obligation maximum exposure	600,000
HEI term loan LIBOR plus .90% due 2016
Liabilities
Long-term debt	125,000,000	0
HEI medium-term note 6.51%, due 2014
Liabilities
Long-term debt	$ 0	$ 100,000,000
Shareholders' equity
Interest rate of medium-term notes (as a percent)	6.51%	6.51%
HEI senior note 4.41%, due 2016
Liabilities
Long-term debt	$ 75,000,000	$ 75,000,000
Shareholders' equity
Interest rate of medium-term notes (as a percent)	4.41%	4.41%
HEI senior note 5.67%, due 2021
Liabilities
Long-term debt	$ 50,000,000	$ 50,000,000
Shareholders' equity
Interest rate of medium-term notes (as a percent)	5.67%	5.67%
HEI senior note 3.99%, due 2023
Liabilities
Long-term debt	$ 50,000,000	$ 50,000,000
Shareholders' equity
Interest rate of medium-term notes (as a percent)	3.99%	3.99%
Hawaiian Electric Industries, Inc.
ASSETS
Cash and cash equivalents	$ 276,000	$ 571,000		$ 18,021,000		$ 1,765,000
Accounts receivable	1,991,000	1,661,000
Property, plant and equipment, net	4,917,000	5,419,000
Deferred income tax assets	15,922,000	10,057,000
Other assets	11,070,000	9,550,000
Investments in subsidiaries, at equity	2,224,452,000	2,122,841,000
Total assets	2,258,628,000	2,150,099,000
Liabilities
Accounts payable	1,993,000	817,000
Interest payable	2,583,000	4,630,000
Notes payable to subsidiaries	7,857,000	7,936,000
Commercial paper	118,972,000	105,482,000
Long-term debt	300,000,000	275,000,000
Retirement benefits liability	32,030,000	21,559,000
Other	3,765,000	7,605,000
Total liabilities	467,200,000	423,029,000
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: 102,565,266 shares and 101,259,800 shares at December 31, 2014 and 2013, respectively	1,521,297,000	1,488,126,000
Retained earnings	297,509,000	255,694,000
Accumulated other comprehensive loss	(27,378,000)	(16,750,000)
Total shareholders' equity	1,791,428,000	1,727,070,000
Total liabilities and shareholders' equity	2,258,628,000	$ 2,150,099,000
Aggregate principal payments
2,015	0
2,016	200,000,000
2,017	0
2,018	0
2,019	$ 0
Preferred stock, authorized shares	10,000,000	10,000,000
Common stock, authorized shares	200,000,000	200,000,000
Common stock, issued shares	102,565,266	101,259,800
Common stock, outstanding shares	102,565,266	101,259,800
Deferred income taxes		$ 0
Hawaiian Electric Industries, Inc. | HEI term loan LIBOR plus .90% due 2016
Liabilities
Long-term debt	$ 125,000,000	0
Hawaiian Electric Industries, Inc. | HEI medium-term note 6.51%, due 2014
Liabilities
Long-term debt	$ 0	$ 100,000,000
Shareholders' equity
Interest rate of medium-term notes (as a percent)	6.51%	6.51%
Hawaiian Electric Industries, Inc. | HEI senior note 4.41%, due 2016
Liabilities
Long-term debt	$ 75,000,000	$ 75,000,000
Shareholders' equity
Interest rate of medium-term notes (as a percent)	4.41%	4.41%
Hawaiian Electric Industries, Inc. | HEI senior note 5.67%, due 2021
Liabilities
Long-term debt	$ 50,000,000	$ 50,000,000
Shareholders' equity
Interest rate of medium-term notes (as a percent)	5.67%	5.67%
Hawaiian Electric Industries, Inc. | HEI senior note 3.99%, due 2023
Liabilities
Long-term debt	$ 50,000,000	$ 50,000,000
Shareholders' equity
Interest rate of medium-term notes (as a percent)	3.99%	3.99%
As previously filed | Hawaiian Electric Industries, Inc.
ASSETS
Deferred income tax assets		$ 1,594,000
Other assets		23,679,000
Total assets		2,155,765,000
Liabilities
Other		1,886,000
Total liabilities		428,695,000
Shareholders' equity
Total liabilities and shareholders' equity		2,155,765,000
Aggregate principal payments
Deferred income taxes		11,385,000
Difference
ASSETS
Other assets		(7,000,000)
Difference | Hawaiian Electric Industries, Inc.
ASSETS
Deferred income tax assets		8,463,000
Other assets		(14,129,000)
Total assets		(5,666,000)
Liabilities
Other		5,719,000
Total liabilities		(5,666,000)
Shareholders' equity
Total liabilities and shareholders' equity		(5,666,000)
Aggregate principal payments
Deferred income taxes		$ (11,385,000)
LIBOR | HEI term loan LIBOR plus .90% due 2016
Aggregate principal payments
Line of credit facility basis point spread (as a percent)	0.90%
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

SCHEDULE I - CONDENSED FINAN128

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT- Statements of Income and Changes in Shareholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012
Expenses:
Depreciation of property, plant and equipment									$ 172,762	$ 160,061	[1]	$ 150,389	[1]
Interest expense									87,160	85,556		89,443
Income before income taxes									261,922	247,747		217,407
Income tax benefits									(91,712)	(84,341)		(76,859)
Net income	$ 33,630	$ 48,286	$ 41,894	$ 46,400	$ 39,486	$ 48,707	$ 41,061	$ 34,152	170,210	163,406	[1]	140,548	[1]
Hawaiian Electric Industries, Inc.
Revenues
Revenues									303	288		221
Equity in income of subsidiaries									188,534	180,359		157,883
Expenses:
Operating, administrative and general									20,921	16,063		16,191
Depreciation of property, plant and equipment									575	596		672
Taxes, other than income taxes									469	497		421
Interest expense									11,599	16,207		16,695
Income before income taxes									155,273	147,284		124,125
Income tax benefits									13,047	14,232		14,533
Net income									$ 168,320	$ 161,516		$ 138,658
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

SCHEDULE I - CONDENSED FINAN129

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT- Statements of Cash Flows (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012
Cash flows from operating activities
Increase (decrease) in deferred income taxes		$ 103,916	$ 80,399	[1]	$ 90,848	[1]
Net cash provided by operating activities		325,420	361,568	[1]	278,934	[1]
Cash flows from investing activities
Capital expenditures		(364,826)	(389,438)	[1]	(370,715)	[1]
Net cash used in investing activities		(592,449)	(598,182)	[1]	(471,439)	[1]
Cash flows from financing activities
Net increase in short-term borrowings with original maturities of three months or less		13,490	21,789	[1]	14,872	[1]
Proceeds from issuance of long-term debt		125,000	286,000	[1]	457,000	[1]
Repayment of long-term debt		(111,400)	(216,000)	[1]	(375,500)	[1]
Excess tax benefits from share-based payment arrangements		277	430	[1]	61	[1]
Net proceeds from issuance of common stock		26,898	55,086	[1]	23,613	[1]
Common stock dividends		(126,458)	(98,383)	[1]	(96,202)	[1]
Net cash provided by (used in) financing activities		222,535	236,988	[1]	141,902	[1]
Net increase (decrease) in cash and cash equivalents		(44,494)	374	[1]	(50,603)	[1]
Cash and cash equivalents, January 1	[1]	220,036	219,662		270,265
Cash and cash equivalents, December 31		175,542	220,036	[1]	219,662	[1]
Issuance of common stock: Dividend reinvestment and stock purchase plan		2,461	41,692		41,295
As previously filed
Cash flows from operating activities
Increase (decrease) in deferred income taxes		59,184
Net cash provided by operating activities		301,479	327,146		234,542
Cash flows from investing activities
Capital expenditures		(339,721)	(353,879)		(325,480)
Net cash used in investing activities		(568,508)	(563,760)		(427,047)
Difference
Cash flows from operating activities
Increase (decrease) in deferred income taxes		44,732
Net cash provided by operating activities		23,941	34,422		44,392
Cash flows from investing activities
Capital expenditures		(25,105)	(35,559)		(45,235)
Net cash used in investing activities		(23,941)	(34,422)		(44,392)
Common stock
Cash flows from financing activities
Issuance of common stock: Dividend reinvestment and stock purchase plan		2,461	41,692		41,295
Hawaiian Electric Industries, Inc.
Cash flows from operating activities
Increase (decrease) in deferred income taxes		(3,269)	1,086
Changes in prepaid and accrued income taxes		3,223	(1,462)
Net cash provided by operating activities		100,794	82,274		127,118
Cash flows from investing activities
Capital expenditures		(74)	(201)		(410)
Investments in subsidiaries		(40,000)	(78,500)		(44,000)
Net cash used in investing activities		(40,074)	(78,701)		(44,410)
Cash flows from financing activities
Net increase (decrease) in notes payable to subsidiaries with original maturities of three months or less		(222)	56		(1,797)
Net increase in short-term borrowings with original maturities of three months or less		13,490	21,788		14,873
Proceeds from issuance of long-term debt		125,000	50,000		0
Repayment of long-term debt		(100,000)	(50,000)		(7,000)
Excess tax benefits from share-based payment arrangements		277	430		61
Net proceeds from issuance of common stock		26,898	55,086		23,613
Common stock dividends		(126,458)	(98,383)		(96,202)
Net cash provided by (used in) financing activities		(61,015)	(21,023)		(66,452)
Net increase (decrease) in cash and cash equivalents		(295)	(17,450)		16,256
Cash and cash equivalents, January 1		571	18,021		1,765
Cash and cash equivalents, December 31		276	571		18,021
Hawaiian Electric Industries, Inc. | As previously filed
Cash flows from operating activities
Increase (decrease) in deferred income taxes		(15,913)	15,228
Changes in prepaid and accrued income taxes		15,867	(15,604)
Hawaiian Electric Industries, Inc. | Difference
Cash flows from operating activities
Increase (decrease) in deferred income taxes		12,644	(14,142)
Changes in prepaid and accrued income taxes		(12,644)	14,142
Hawaiian Electric Industries, Inc. | Common stock
Cash flows from financing activities
Issuance of common stock: Dividend reinvestment and stock purchase plan		0	24,000		24,000
Hawaiian Electric Industries, Inc. | ASB Hawaii, Inc. | Consolidated subsidiary
Cash flows from financing activities
Accounts receivable reduction		2,400	2,300		1,800
HEI notes payable increase to ASHI		$ 2,500	$ 2,500		$ 2,500
[1]	As restated - See Note 1, “Summary of significant accounting policies - Revision and restatements of previously issued financial statements.”

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Valuation and qualifying accounts
Charged to other accounts	$ 0	$ 0	$ 0
Allowance for uncollectible accounts- electric utility | Hawaiian Electric Company, Inc. and Subsidiaries
Valuation and qualifying accounts
Balance at beginning of period	2,329	2,148	2,221
Charged to costs and expenses	1,384	3,812	3,230
Charged to other accounts	1,613	1,943	1,180
Deductions	3,367	5,574	4,483
Balance at end of period	1,959	2,329	2,148
Allowance for uncollectible interest- bank | Bank
Valuation and qualifying accounts
Balance at beginning of period	1,661	3,166	4,825
Deductions	147	1,505	1,659
Balance at end of period	1,514	1,661	3,166
Allowance for losses for loans receivable – bank | Bank
Valuation and qualifying accounts
Balance at beginning of period	40,116	41,985	37,906
Charged to costs and expenses	6,126	1,507	12,883
Charged to other accounts	4,926	4,826	4,026
Deductions	5,550	8,202	12,830
Balance at end of period	45,618	40,116	41,985
Mortgage Servicing Rights (MSR) | Bank
Valuation and qualifying accounts
Balance at beginning of period	251	498	175
Charged to costs and expenses	53	0	504
Charged to other accounts	0	(60)	0
Deductions	95	187	181
Balance at end of period	209	251	498
Deferred tax valuation allowance – HEI
Valuation and qualifying accounts
Balance at beginning of period	278	278	278
Charged to costs and expenses	17	0	0
Charged to other accounts	0	0	0
Deductions	250	0	0
Balance at end of period	$ 45	$ 278	$ 278