Hawaiian Electric Company, Inc. PFD C 4.25% (HAWEN) 10-Q 3 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 27, 2018
Entity Information [Line Items]
Entity Registrant Name	HAWAIIAN ELECTRIC INDUSTRIES INC
Entity Central Index Key	354,707
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		108,879,245
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Hawaiian Electric Company, Inc. and Subsidiaries
Entity Information [Line Items]
Entity Registrant Name	HAWAIIAN ELECTRIC COMPANY INC
Entity Central Index Key	46,207
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		16,142,216
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues
Total revenues	$ 685,277	$ 632,281	$ 1,331,151	$ 1,223,843
Expenses
Purchased power	161,000	153,000	301,000	280,000
Total expenses	606,478	554,479	1,180,463	1,076,303
Operating income (loss)
Total operating income	78,799	77,802	150,688	147,540
Less: Retirement defined benefits expense—other than service costs	(1,564)	(1,906)	(3,397)	(3,782)
Interest expense, net—other than on deposit liabilities and other bank borrowings	(22,001)	(20,440)	(43,519)	(40,008)
Allowance for borrowed funds used during construction	1,365	1,143	2,809	2,032
Allowance for equity funds used during construction	2,983	3,027	6,277	5,426
Income before income taxes	59,582	59,626	112,858	111,208
Income taxes	13,055	20,492	25,611	37,408
Net income	46,527	39,134	87,247	73,800
Preferred stock dividends of subsidiaries	473	473	946	946
Net income for common stock	$ 46,054	$ 38,661	$ 86,301	$ 72,854
Basic earnings per common share (in dollars per share)	$ 0.42	$ 0.36	$ 0.79	$ 0.67
Diluted earnings per common share (in dollars per share)	0.42	0.36	0.79	0.67
Dividends declared per common share (in dollars per share)	$ 0.31	$ 0.31	$ 0.62	$ 0.62
Weighted-average number of common shares outstanding (in shares)	108,842	108,750	108,830	108,712
Net effect of potentially dilutive shares (in shares)	121	47	223	157
Weighted-average shares assuming dilution (in shares)	108,963	108,797	109,053	108,869
Hawaiian Electric Company, Inc. and Subsidiaries
Revenues
Total revenues	$ 608,126	$ 556,875	$ 1,178,553	$ 1,075,486
Expenses
Fuel oil	171,717	141,259	338,685	285,529
Purchased power	160,738	153,067	300,648	280,191
Other operation and maintenance	112,642	104,939	220,252	203,756
Depreciation	50,361	48,156	100,827	96,372
Taxes, other than income taxes	57,524	52,972	111,628	102,795
Total expenses	552,982	500,393	1,072,040	968,643
Operating income (loss)
Total operating income	55,144	56,482	106,513	106,843
Less: Retirement defined benefits expense—other than service costs	(988)	(1,435)	(2,252)	(2,858)
Allowance for borrowed funds used during construction	1,365	1,143	2,809	2,032
Allowance for equity funds used during construction	2,983	3,027	6,277	5,426
Interest expense and other charges, net	(18,160)	(18,214)	(35,854)	(35,718)
Income before income taxes	40,344	41,003	77,493	75,725
Income taxes	8,676	14,860	17,851	27,618
Net income	31,668	26,143	59,642	48,107
Preferred stock dividends of subsidiaries	229	229	458	458
Net income attributable to Hawaiian Electric	31,439	25,914	59,184	47,649
Preferred stock dividends of Hawaiian Electric	270	270	540	540
Net income for common stock	31,169	25,644	58,644	47,109
Electric utility
Revenues
Total revenues	608,126	556,875	1,178,553	1,075,486
Expenses
Total expenses	552,982	500,393	1,072,040	968,643
Operating income (loss)
Total operating income	55,144	56,482	106,513	106,843
Income before income taxes	40,344	41,003	77,493	75,725
Income taxes	8,676	14,860	17,851	27,618
Net income	31,668	26,143	59,642	48,107
Preferred stock dividends of subsidiaries	499	499	998	998
Net income for common stock	31,169	25,644	58,644	47,109
Bank
Revenues
Total revenues	77,104	75,329	152,523	148,185
Expenses
Total expenses	50,187	50,332	100,719	98,833
Operating income (loss)
Total operating income	26,917	24,997	51,804	49,352
Income before income taxes	26,514	24,796	51,014	48,956
Income taxes	5,953	8,063	11,493	16,410
Net income	20,561	16,733	39,521	32,546
Preferred stock dividends of subsidiaries	0	0	0	0
Net income for common stock	20,561	16,733	39,521	32,546
Other
Revenues
Total revenues	47	77	75	172
Expenses
Total expenses	3,309	3,754	7,704	8,827
Operating income (loss)
Total operating income	(3,262)	(3,677)	(7,629)	(8,655)
Income before income taxes	(7,276)	(6,173)	(15,649)	(13,473)
Income taxes	(1,574)	(2,431)	(3,733)	(6,620)
Net income	(5,702)	(3,742)	(11,916)	(6,853)
Preferred stock dividends of subsidiaries	(26)	(26)	(52)	(52)
Net income for common stock	$ (5,676)	$ (3,716)	$ (11,864)	$ (6,801)

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net income for common stock	$ 46,054	$ 38,661	$ 86,301	$ 72,854
Net unrealized gains (losses) on available-for-sale investment securities:
Net unrealized gain (losses) on available-for-sale investment securities arising during the period, net of taxes	(4,348)	2,021	(17,645)	2,244
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits	0	0	0	454
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	5,350	3,930	10,496	7,851
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,827)	(3,581)	(9,449)	(7,194)
Other comprehensive income (loss), net of taxes	(3,825)	2,370	(16,598)	3,355
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	42,229	41,031	69,703	76,209
Hawaiian Electric Company, Inc. and Subsidiaries
Net income for common stock	31,169	25,644	58,644	47,109
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits	0	0	0	454
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	4,853	3,621	9,506	7,239
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,827)	(3,581)	(9,449)	(7,194)
Other comprehensive income (loss), net of taxes	26	40	57	499
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 31,195	$ 25,684	$ 58,701	$ 47,608

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net unrealized gains (losses) on securities arising during the period, (taxes) benefits	$ 1,592	$ (1,334)	$ 6,459	$ (1,482)
Reclassification adjustment to net income, tax expense (benefits)	0	0	0	(289)
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, taxes (benefits)	(1,862)	(2,508)	(3,654)	(5,010)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, taxes	1,674	2,281	3,277	4,582
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassification adjustment to net income, tax expense (benefits)	0	0	0	(289)
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, taxes (benefits)	(1,683)	(2,306)	(3,297)	(4,610)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, taxes	$ 1,674	$ 2,281	$ 3,277	$ 4,582

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 254,665	$ 261,881
Accounts receivable and unbilled revenues, net	299,771	263,209
Available-for-sale investment securities, at fair value	1,409,528	1,401,198
Held-to-maturity investment securities, at amortized cost	62,630	44,515
Stock in Federal Home Loan Bank, at cost	10,158	9,706
Loans held for investment, net	4,721,941	4,617,131
Loans held for sale, at lower of cost or fair value	5,248	11,250
Property, plant and equipment, net of accumulated depreciation	4,611,949	4,460,248
Regulatory assets	860,410	869,297
Other	565,614	513,535
Goodwill	82,190	82,190
Utility property, plant and equipment
Total property, plant and equipment, net	4,611,949	4,460,248
Current assets
Cash and cash equivalents	254,665	261,881
Other long-term assets
Total assets	12,884,104	12,534,160
Liabilities
Accounts payable	213,832	193,714
Interest and dividends payable	27,594	25,837
Deposit liabilities	6,116,109	5,890,597
Short-term borrowings—other than bank	202,857	117,945
Other bank borrowings	126,930	190,859
Long-term debt, net—other than bank	1,783,009	1,683,797
Deferred income taxes	375,832	388,430
Regulatory liabilities	905,216	880,770
Defined benefit pension and other postretirement benefit plans liability	494,541	509,514
Other	500,873	521,018
Total liabilities	10,746,793	10,402,481
Capitalization
Retained earnings	495,656	476,836
Accumulated other comprehensive loss, net of tax benefits	(58,539)	(41,941)
Total shareholders’ equity	2,103,018	2,097,386
Preferred stock, no par value, authorized 10,000,000 shares; issued: none	0	0
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293	34,293
Commitments and contingencies
Current liabilities
Interest and dividends payable	27,594	25,837
Deferred credits and other liabilities
Deferred income taxes	375,832	388,430
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: 108,879,245 shares and 108,787,807 shares at June 30, 2018 and December 31, 2017, respectively	1,665,901	1,662,491
Retained earnings	495,656	476,836
Accumulated other comprehensive loss, net of tax benefits	(58,539)	(41,941)
Total shareholders’ equity	2,103,018	2,097,386
Total liabilities and shareholders’ equity	12,884,104	12,534,160
Hawaiian Electric Company, Inc. and Subsidiaries
Assets
Cash and cash equivalents	20,860	12,517
Property, plant and equipment, net of accumulated depreciation	4,344,657	4,248,539
Utility property, plant and equipment
Land	52,914	53,177
Plant and equipment	6,652,982	6,401,040
Less accumulated depreciation	(2,534,428)	(2,476,352)
Construction in progress	165,608	263,094
Utility property, plant and equipment, net	4,337,076	4,240,959
Nonutility property, plant and equipment, less accumulated depreciation	7,581	7,580
Total property, plant and equipment, net	4,344,657	4,248,539
Current assets
Cash and cash equivalents	20,860	12,517
Customer accounts receivable, net	157,260	127,889
Accrued unbilled revenues, net	110,839	107,054
Other accounts receivable, net	6,896	7,163
Fuel oil stock, at average cost	107,016	86,873
Materials and supplies, at average cost	57,941	54,397
Prepayments and other	29,240	25,355
Regulatory assets	103,566	88,390
Total current assets	593,618	509,638
Other long-term assets
Regulatory assets	756,844	780,907
Other	108,595	91,529
Total other long-term assets	865,439	872,436
Total assets	5,803,714	5,630,613
Liabilities
Interest and dividends payable	22,684	22,575
Deferred income taxes	388,875	394,041
Capitalization
Common stock ($6 2/3 par value, authorized 50,000,000 shares; outstanding 16,142,216 shares at June 30, 2018 and December 31, 2017)	107,634	107,634
Premium on capital stock	614,667	614,675
Retained earnings	1,131,185	1,124,193
Accumulated other comprehensive loss, net of tax benefits	(1,162)	(1,219)
Total shareholders’ equity	1,852,324	1,845,283
Preferred stock, no par value, authorized 10,000,000 shares; issued: none	34,293	34,293
Long-term debt, net	1,418,474	1,318,516
Total capitalization	3,305,091	3,198,092
Commitments and contingencies
Current liabilities
Current portion of long-term debt	49,983	49,963
Short-term borrowings from non-affiliates	91,880	4,999
Accounts payable	153,759	159,610
Interest and dividends payable	22,684	22,575
Taxes accrued, including revenue taxes	172,063	199,101
Regulatory liabilities	9,787	3,401
Other	59,203	59,456
Total current liabilities	559,359	499,105
Deferred credits and other liabilities
Deferred income taxes	388,875	394,041
Regulatory liabilities	895,429	877,369
Unamortized tax credits	92,798	90,369
Defined benefit pension and other postretirement benefit plans liability	457,953	472,948
Other	104,209	98,689
Total deferred credits and other liabilities	1,939,264	1,933,416
Shareholders’ equity
Preferred stock, no par value, authorized 10,000,000 shares; issued: none	34,293	34,293
Retained earnings	1,131,185	1,124,193
Accumulated other comprehensive loss, net of tax benefits	(1,162)	(1,219)
Total shareholders’ equity	1,852,324	1,845,283
Total liabilities and shareholders’ equity	$ 5,803,714	$ 5,630,613

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Property, plant and equipment, accumulated depreciation	$ 2,615,259	$ 2,553,295
Preferred stock, authorized shares (in shares)	10,000,000	10,000,000
Preferred stock, issued shares (in shares)	0	0
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, issued shares (in shares)	108,879,245	108,787,807
Common stock, outstanding shares (in shares)	108,879,245	108,787,807
Hawaiian Electric Company, Inc. and Subsidiaries
Nonutility property, plant and equipment, accumulated depreciation	$ 1,253	$ 1,251
Common stock, par value (in dollars per share)	$ 6.67	$ 6.67
Common stock, authorized shares (in shares)	50,000,000	50,000,000
Common stock, outstanding shares (in shares)	16,142,216	16,142,216

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Changes in Shareholders' Equity and Common Stock Equity (unaudited) - USD ($) $ in Thousands	Total	Hawaiian Electric Company, Inc. and Subsidiaries	Common stock	Common stockHawaiian Electric Company, Inc. and Subsidiaries	Premium on capital stockHawaiian Electric Company, Inc. and Subsidiaries	Retained Earnings	Retained EarningsHawaiian Electric Company, Inc. and Subsidiaries	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss)Hawaiian Electric Company, Inc. and Subsidiaries
Beginning Balance at Dec. 31, 2016	$ 2,066,753	$ 1,799,787	$ 1,660,910	$ 106,818	$ 601,491	$ 438,972	$ 1,091,800	$ (33,129)	$ (322)
Beginning Balance (in shares) at Dec. 31, 2016			108,583,000	16,020,000
Increase (decrease) in stockholders' equity
Net income for common stock	72,854	47,109				72,854	47,109
Other comprehensive income (loss), net of tax (benefits)	3,355	499						3,355	499
Issuance of common stock, net of expenses	(507)		$ (507)
Issuance of common stock, net of expenses (in shares)			202,000
Common stock dividends	(67,426)	(43,884)				(67,426)	(43,884)
Common stock issuance expenses		(5)			(5)
Ending Balance at Jun. 30, 2017	2,075,029	1,803,506	$ 1,660,403	$ 106,818	601,486	444,400	1,095,025	(29,774)	177
Ending Balance (in shares) at Jun. 30, 2017			108,785,000	16,020,000
Beginning Balance at Dec. 31, 2017	$ 2,097,386	1,845,283	$ 1,662,491	$ 107,634	614,675	476,836	1,124,193	(41,941)	(1,219)
Beginning Balance (in shares) at Dec. 31, 2017	108,787,807		108,788,000	16,142,000
Increase (decrease) in stockholders' equity
Net income for common stock	$ 86,301	58,644				86,301	58,644
Other comprehensive income (loss), net of tax (benefits)	(16,598)	57						(16,598)	57
Issuance of common stock, net of expenses	3,410		$ 3,410
Issuance of common stock, net of expenses (in shares)			91,000
Common stock dividends	(67,481)	(51,652)				(67,481)	(51,652)
Common stock issuance expenses		(8)			(8)
Ending Balance at Jun. 30, 2018	$ 2,103,018	$ 1,852,324	$ 1,665,901	$ 107,634	$ 614,667	$ 495,656	$ 1,131,185	$ (58,539)	$ (1,162)
Ending Balance (in shares) at Jun. 30, 2018	108,879,245		108,879,000	16,142,000

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities
Net income	$ 87,247	$ 73,800
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment	106,063	100,062
Other amortization	20,603	6,101
Provision for loan losses	6,304	6,741
Loans originated and purchased, held for sale	(78,313)	(69,595)
Proceeds from sale of loans, held for sale	77,382	79,944
Deferred income taxes	(9,672)	17,047
Share-based compensation expense	4,414	3,285
Allowance for equity funds used during construction	(6,277)	(5,426)
Other	(147)	246
Changes in assets and liabilities
Increase in accounts receivable and unbilled revenues, net	(41,526)	(12,394)
Increase in fuel oil stock	(19,867)	(5,962)
Decrease (increase) in regulatory assets	(19,600)	8,179
Increase in accounts, interest and dividends payable	31,784	43,530
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	(26,558)	(37,954)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability	(871)	420
Change in other assets and liabilities	(22,695)	(33,922)
Net cash provided by operating activities	108,271	174,102
Cash flows from investing activities
Available-for-sale investment securities purchased	(133,698)	(295,510)
Principal repayments on available-for-sale investment securities	108,379	99,663
Purchases of held-to-maturity investment securities	(20,450)	0
Principal repayments of held-to-maturity investment securities	2,270	0
Purchase of stock from Federal Home Loan Bank	(7,533)	(2,868)
Redemption of stock from Federal Home Loan Bank	7,080	2,380
Net increase in loans held for investment	(111,521)	(20,326)
Proceeds from sale of commercial loans	7,149	13,493
Proceeds from sale of real estate acquired in settlement of loans	589	185
Capital expenditures	(259,898)	(210,325)
Contributions in aid of construction	13,573	17,571
Contributions to low income housing investments	(3,279)	0
Other	5,919	8,216
Net cash used in investing activities	(391,420)	(387,521)
Cash flows from financing activities
Net increase in deposit liabilities	123,137	175,457
Net increase in short-term borrowings with original maturities of three months or less	84,881	49,789
Net increase in retail repurchase agreements	38,446	9,048
Proceeds from other bank borrowings	177,000	59,500
Repayments of other bank borrowings	(177,000)	(73,034)
Proceeds from issuance of long-term debt	100,000	265,000
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds	(878)	(265,000)
Withheld shares for employee taxes on vested share-based compensation	(996)	(3,787)
Common stock dividends	(67,481)	(67,426)
Preferred stock dividends of subsidiaries	(946)	(946)
Other	(230)	(3,253)
Net cash provided by financing activities	275,933	145,348
Net decrease in cash and cash equivalents	(7,216)	(68,071)
Cash and cash equivalents, beginning of period	261,881	278,452
Cash and cash equivalents, end of period	254,665	210,381
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income	59,642	48,107
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment	100,827	96,372
Other amortization	13,021	4,262
Deferred income taxes	(8,343)	23,599
Allowance for equity funds used during construction	(6,277)	(5,426)
Other	978	1,615
Changes in assets and liabilities
Increase in accounts receivable	(34,068)	(1,729)
Increase in accrued unbilled revenues	(3,785)	(11,903)
Increase in fuel oil stock	(20,143)	(5,962)
Increase in materials and supplies	(3,544)	(3,420)
Decrease (increase) in regulatory assets	(19,600)	8,179
Increase in accounts payable	18,284	39,716
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	(31,061)	(40,910)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability	(1,961)	302
Change in other assets and liabilities	5,866	(14,047)
Net cash provided by operating activities	69,836	138,755
Cash flows from investing activities
Capital expenditures	(213,220)	(190,159)
Contributions in aid of construction	13,573	17,571
Other	4,301	6,250
Net cash used in investing activities	(195,346)	(166,338)
Cash flows from financing activities
Net increase in short-term borrowings with original maturities of three months or less	86,881	43,990
Proceeds from issuance of long-term debt	100,000	265,000
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds	0	(265,000)
Common stock dividends	(51,652)	(43,884)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(998)	(998)
Other	(378)	(3,229)
Net cash provided by financing activities	133,853	(4,121)
Net decrease in cash and cash equivalents	8,343	(31,704)
Cash and cash equivalents, beginning of period	12,517	74,286
Cash and cash equivalents, end of period	$ 20,860	$ 42,582

Basis of presentation

Basis of presentation	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) for interim financial information, the instructions to SEC Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In preparing the unaudited condensed consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenues and expenses for the period. Actual results could differ significantly from those estimates. The accompanying unaudited condensed consolidated financial statements and the following notes should be read in conjunction with the audited consolidated financial statements and the notes thereto in HEI’s and Hawaiian Electric’s Form 10-K for the year ended December 31, 2017 . In the opinion of HEI’s and Hawaiian Electric’s management, the accompanying unaudited condensed consolidated financial statements contain all material adjustments required by GAAP to fairly state consolidated HEI’s and Hawaiian Electric’s financial positions as of June 30, 2018 and December 31, 2017 and the results of their operations for the three and six months ended June 30, 2018 and 2017 and cash flows for the six months ended June 30, 2018 and 2017 . All such adjustments are of a normal recurring nature, unless otherwise disclosed below or in other referenced material. Results of operations for interim periods are not necessarily indicative of results for the full year. Recent accounting pronouncements. Revenues from contracts with customers . In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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. ASU No. 2014-09 also requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company and Hawaiian Electric adopted ASU No. 2014-09 (and subsequently issued revenue-related ASUs, as applicable) in the first quarter of 2018. There was no cumulative effect adjustment and no impact on the timing or pattern of revenue recognition, but ASU No. 2014-09 required changes with respect to the Company’s and Hawaiian Electric’s revenue disclosures. See Note 7 . Financial instruments . In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities,” which, among other things: • Requires equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. • Requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. • Requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables). • Eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost. The Company adopted ASU No. 2016-01 in the first quarter of 2018 and the impact of adoption was not material to the Company’s and Hawaiian Electric’s consolidated financial statements. Cash flows . In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” which provides guidance on eight specific cash flow issues - debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies), distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. The Company adopted ASU No. 2016-15 in the first quarter of 2018 using a retrospective transition method and there was no impact from the adoption to the Company’s and Hawaiian Electric’s consolidated statements of cash flows. Restricted cash . In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash,” which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The Company adopted ASU No. 2016-18 in the first quarter of 2018 using a retrospective transition method and the impact of adoption was not material to the Company’s and Hawaiian Electric’s consolidated statements of cash flows. Definition of a Business . In January 2017, the FASB issued ASU No. 2017-01, “Business Combinations—Clarifying the Definition of a Business.” This update clarifies the definition of a business and adds guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The Company adopted ASU No. 2017-01 in the first quarter of 2018 and the impact of adoption was not material to the Company’s and Hawaiian Electric’s consolidated financial statements. Net periodic pension cost and net periodic postretirement benefit cost . In March 2017, the FASB issued ASU No. 2017-07, “Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” which requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. It also requires the other components of net periodic pension cost (NPPC) and net periodic postretirement benefit cost (NPBC) as defined in paragraphs 715-30-35-4 and 715-60-35-9 to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. Additionally, only the service cost component is eligible for capitalization under GAAP, when applicable. The Company adopted ASU No. 2017-07 in the first quarter of 2018: (1) retrospectively for the presentation in the income statement of the service cost component and the other components of NPPC and NPBC, and (2) prospectively for the capitalization in assets of the service cost component of NPPC and NPBC for Hawaiian Electric and its subsidiaries. HEI and ASB do not capitalize pension and OPEB costs. In settlement agreements in the 2018 Maui Electric, 2017 Hawaiian Electric and 2016 Hawaii Electric Light rate cases, Maui Electric, Hawaiian Electric and Hawaii Electric Light, respectively, and the Consumer Advocate agreed to the deferral of the non-service cost components of NPPC and NPBC, which would have been capitalized prior to ASU No. 2017-07, as part of the pension tracking mechanism. The PUC approved this treatment in the final decision and order (D&O) in the Hawaiian Electric and Hawaii Electric Light rate cases. The treatment under the settlement agreements was followed beginning in 2018 until each utility’s next rate case. In each utility’s next rate case, rates established would include recovery of the deferred non-service cost components and seek to adopt the capitalization policy which reflects the requirements of ASU No. 2017-07 (i.e., only the service cost components of NPPC and NPBC will be capitalized). Thus, the adoption of ASU 2017-07 in the first quarter of 2018 does not have a net income impact. The following table summarizes the impact to the prior period financial statements of the adoption of ASU No. 2017-07: Three months ended June 30, 2017 Six months ended June 30, 2017 (in thousands) As previously filed Adjustment from adoption of ASU No. 2017-07 As currently reported As previously filed Adjustment from adoption of ASU No. 2017-07 As currently reported HEI Condensed Consolidated Income Statement Expenses Electric utility $ 501,828 $ (1,435 ) $ 500,393 $ 971,501 $ (2,858 ) $ 968,643 Bank 50,533 (201 ) 50,332 99,229 (396 ) 98,833 Other 4,024 (270 ) 3,754 9,355 (528 ) 8,827 Total expenses 556,385 (1,906 ) 554,479 1,080,085 (3,782 ) 1,076,303 Operating income Electric utility 55,047 1,435 56,482 103,985 2,858 106,843 Bank 24,796 201 24,997 48,956 396 49,352 Other (3,947 ) 270 (3,677 ) (9,183 ) 528 (8,655 ) Total operating income 75,896 1,906 77,802 143,758 3,782 147,540 Retirement defined benefits expense--other than service costs — (1,906 ) (1,906 ) — (3,782 ) (3,782 ) Hawaiian Electric Condensed Consolidated Income Statement Other operation and maintenance 106,374 (1,435 ) 104,939 206,614 (2,858 ) 203,756 Total expense 501,828 (1,435 ) 500,393 971,501 (2,858 ) 968,643 Operating income 55,047 1,435 56,482 103,985 2,858 106,843 Retirement defined benefits expense--other than service costs — (1,435 ) (1,435 ) — (2,858 ) (2,858 ) Hawaiian Electric Condensed Consolidating Income Statement (in Note 3) Hawaiian Electric (parent only) Other operation and maintenance 70,961 (1,302 ) 69,659 138,239 (2,587 ) 135,652 Total expense 357,575 (1,302 ) 356,273 690,763 (2,587 ) 688,176 Operating income 36,839 1,302 38,141 66,494 2,587 69,081 Retirement defined benefits expense--other than service costs — (1,302 ) (1,302 ) — (2,587 ) (2,587 ) Hawaii Electric Light Other operation and maintenance 17,558 85 17,643 33,074 168 33,242 Total expense 72,903 85 72,988 141,400 168 141,568 Operating income 8,807 (85 ) 8,722 19,292 (168 ) 19,124 Retirement defined benefits expense--other than service costs — 85 85 — 168 168 Maui Electric Other operation and maintenance 17,855 (218 ) 17,637 35,301 (439 ) 34,862 Total expense 71,350 (218 ) 71,132 139,338 (439 ) 138,899 Operating income 9,415 218 9,633 18,220 439 18,659 Retirement defined benefits expense--other than service costs — (218 ) (218 ) — (439 ) (439 ) ASB Statements of Income Data (in Note 4) Compensation and employee benefits 24,742 (201 ) 24,541 47,979 (396 ) 47,583 Other expense 4,705 201 4,906 9,016 396 9,412 Derivatives and Hedging. In August 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,” which is intended to improve and simplify accounting rules around hedge accounting. The amendments in ASU No. 2017-12 improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results in the financial statements. The amendments also expand and refine hedge accounting for both nonfinancial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. For public business entities, the new guidance is effective for annual periods beginning after December 15, 2018, including interim periods within those annual periods, but early adoption is permitted. The Company early adopted ASU No. 2017-12 in the second quarter of 2018, with an effective date of April 1, 2018, and the adoption did not have a material impact on the Company’s consolidated financial statements. Leases . In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires that lessees recognize a liability to make lease payments (the lease liability) and a right-of-use asset, representing its right to use the underlying asset for the lease term, for all leases (except short-term leases) at the commencement date. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election and recognize lease expense for such leases generally on a straight-line basis over the lease term. For finance leases, a lessee is required to recognize interest on the lease liability separately from amortization of the right-of-use asset in the statement of income. For operating leases, a lessee is required to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis. The Company plans to adopt ASU No. 2016-02 in the first quarter of 2019 and is currently analyzing the potential impact of adoption, including the impact of electing certain practical expedients available under the standard. The Company has reviewed its agreements and has compiled a preliminary inventory of its operating leases and other arrangements that meet the definition of a lease under the new standard. The Company is in the process of analyzing the measurement provisions of the new standard and their impact to its existing lease arrangements that fall within the scope of ASU No. 2016-02. Credit losses . In June 2016, the FASB issued ASU No. 2016-13, “ Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ,” which is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations . ASU No. 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date (based on historical experience, current conditions and reasonable and supportable forecasts) and enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASU No. 2016-13 amends the accounting for credit losses on available-for-sale (AFS) debt securities and purchased financial assets with credit deterioration. The other-than-temporary impairment model of accounting for credit losses on AFS debt securities will be replaced with an estimate of expected credit losses only when the fair value is below the amortized cost of the asset. The length of time the fair value of an AFS debt security has been below the amortized cost will no longer impact the determination of whether a credit loss exists. The AFS debt security model will also require the use of an allowance to record the estimated losses (and subsequent recoveries). The accounting for the initial recognition of the estimated expected credit losses for purchased financial assets with credit deterioration would be recognized through an allowance for credit losses with an offset to the cost basis of the related financial asset at acquisition (i.e., there is no impact to net income at initial recognition). The Company plans to adopt ASU No. 2016-13 in the first quarter of 2020. The guidance is to be applied on a modified retrospective basis with the cumulative effect of initially applying the amendments recognized in retained earnings at the date of initial application. The Company has assembled a project team that meets regularly to evaluate the provisions of this ASU, identify additional data requirements necessary and determine an approach for implementation. The team has assigned roles and responsibilities and developed key tasks to complete and a general timeline to be followed. The Company is evaluating the effect that this ASU will have on the consolidated financial statements and disclosures. Economic conditions and the composition of the Company’s loan portfolio at the time of adoption will influence the extent of the adopting accounting adjustment. Condensed Consolidated Statements of Cash Flows error. Subsequent to the issuance of interim Condensed Consolidated Financial Statements (unaudited) for the quarter ended June 30, 2017, the Company and the Utilities identified an error within their previously reported interim Condensed Consolidated Statements of Cash Flows (unaudited). The timing of certain capital expenditure payments, including those that had retainage balances or were related to certain capitalized amounts were not reflected timely. The Company and the Utilities have evaluated the effect of the error, both qualitatively and quantitatively, and concluded that it is immaterial to their respective previously issued condensed consolidated financial statements. For the six months ended June 30, 2017, the correction of this error resulted in decreases in Net Cash Provided by Operating Activities (impacting the change in Accounts, Interest and Dividends Payable for the Company and Accounts Payable for the Utilities) and Net Cash Used in Investing Activities (impacting the Capital Expenditures for the Company and the Utilities) of $12 million . Reclassifications. Reclassifications made to prior year-end financial statements to conform to 2018 presentation include a reclassification of contributions in aid of construction (CIAC) balances to “Property, plant and equipment, net” and “Total property, plant and equipment, net” for the Company and Hawaiian Electric, respectively, which reduced the amounts of the respective balances.

Segment financial information

Segment financial information	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment financial information	Segment financial information (in thousands) Electric utility Bank Other Total Three months ended June 30, 2018 Revenues from external customers $ 608,112 $ 77,104 $ 61 $ 685,277 Intersegment revenues (eliminations) 14 — (14 ) — Revenues $ 608,126 $ 77,104 $ 47 $ 685,277 Income (loss) before income taxes $ 40,344 $ 26,514 $ (7,276 ) $ 59,582 Income taxes (benefit) 8,676 5,953 (1,574 ) 13,055 Net income (loss) 31,668 20,561 (5,702 ) 46,527 Preferred stock dividends of subsidiaries 499 — (26 ) 473 Net income (loss) for common stock $ 31,169 $ 20,561 $ (5,676 ) $ 46,054 Six months ended June 30, 2018 Revenues from external customers $ 1,178,526 $ 152,523 $ 102 $ 1,331,151 Intersegment revenues (eliminations) 27 — (27 ) — Revenues $ 1,178,553 $ 152,523 $ 75 $ 1,331,151 Income (loss) before income taxes $ 77,493 $ 51,014 $ (15,649 ) $ 112,858 Income taxes (benefit) 17,851 11,493 (3,733 ) 25,611 Net income (loss) 59,642 39,521 (11,916 ) 87,247 Preferred stock dividends of subsidiaries 998 — (52 ) 946 Net income (loss) for common stock $ 58,644 $ 39,521 $ (11,864 ) $ 86,301 Total assets (at June 30, 2018) $ 5,803,714 $ 6,983,583 $ 96,807 $ 12,884,104 Three months ended June 30, 2017 Revenues from external customers $ 556,836 $ 75,329 $ 116 $ 632,281 Intersegment revenues (eliminations) 39 — (39 ) — Revenues $ 556,875 $ 75,329 $ 77 $ 632,281 Income (loss) before income taxes $ 41,003 $ 24,796 $ (6,173 ) $ 59,626 Income taxes (benefit) 14,860 8,063 (2,431 ) 20,492 Net income (loss) 26,143 16,733 (3,742 ) 39,134 Preferred stock dividends of subsidiaries 499 — (26 ) 473 Net income (loss) for common stock $ 25,644 $ 16,733 $ (3,716 ) $ 38,661 Six months ended June 30, 2017 Revenues from external customers $ 1,075,402 $ 148,185 $ 256 $ 1,223,843 Intersegment revenues (eliminations) 84 — (84 ) — Revenues $ 1,075,486 $ 148,185 $ 172 $ 1,223,843 Income (loss) before income taxes $ 75,725 $ 48,956 $ (13,473 ) $ 111,208 Income taxes (benefit) 27,618 16,410 (6,620 ) 37,408 Net income (loss) 48,107 32,546 (6,853 ) 73,800 Preferred stock dividends of subsidiaries 998 — (52 ) 946 Net income (loss) for common stock $ 47,109 $ 32,546 $ (6,801 ) $ 72,854 Total assets (at December 31, 2017) $ 5,630,613 $ 6,798,659 $ 104,888 $ 12,534,160 Intercompany electricity sales of the Utilities to the bank and “other” segments are not eliminated because those segments would need to purchase electricity from another source if it were not provided by the Utilities and the profit on such sales is nominal. Bank fees that ASB charges the Utilities and “other” segments are not eliminated because those segments would pay fees to another financial institution if they were to bank with another institution and the profit on such fees is nominal. Hamakua Energy’s sales to Hawaii Electric Light (a regulated affiliate) are eliminated in consolidation. Hamakua Energy's profit on electricity sales to Hawaii Electric Light is not required to be eliminated because the PPA was approved by the PUC and it is probable that, through the ratemaking process, future revenue from Hawaii Electric Light’s sale of the electricity will approximate its purchase price from Hamakua Energy under the PPA.

Electric utility segment

Electric utility segment	6 Months Ended
	Jun. 30, 2018
Electric utility subsidiary [Abstract]
Electric utility segment	Electric utility segment Revenue taxes. The Utilities’ revenues include amounts for recovery of various Hawaii state revenue taxes. Revenue taxes are generally recorded as an expense in the period the related revenues are recognized. For the second quarters of 2018 and 2017 and the six months ended June 30, 2018 and 2017 , the Utilities’ revenues include recovery of revenue taxes of approximately $54 million , $50 million , $105 million and $96 million , respectively, which amounts are included in “Taxes, other than income taxes” expense, in the unaudited condensed consolidated statements of income. However, the Utilities pay revenue taxes to the taxing authorities in the period based on (1) the prior year’s billed revenues (in the case of public service company taxes and PUC fees) in the current year or (2) the current year’s cash collections from electric sales (in the case of franchise taxes) after year-end. Unconsolidated variable interest entities. HECO Capital Trust III . 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 have the power to direct the activities that most significantly impact the economic performance of Trust III nor the obligation to absorb its expected losses, if any, that could potentially be significant to Trust III, Hawaiian Electric is not the primary beneficiary and does not consolidate Trust III in accordance with accounting rules on the consolidation of VIEs. Trust III’s balance sheets as of June 30, 2018 and December 31, 2017 each consisted of $51.5 million of 2004 Debentures; $50.0 million of 2004 Trust Preferred Securities; and $1.5 million of trust common securities. Trust III’s income statements for the six months ended June 30, 2018 and 2017 consisted of $1.7 million of interest income received from the 2004 Debentures; $1.6 million of distributions to holders of the Trust Preferred Securities; and $50,000 of common dividends on the trust common securities to Hawaiian Electric. Power purchase agreements . As of June 30, 2018 , the Utilities had five PPAs for firm capacity and other PPAs with independent power producers (IPPs) and Schedule Q providers (i.e., customers with cogeneration and/or power production facilities who buy power from or sell power to the Utilities), none of which is currently required to be consolidated as VIEs. Pursuant to the current accounting standards for VIEs, the Utilities are deemed to have a variable interest in Kalaeloa Partners, L.P. (Kalaeloa), AES Hawaii, Inc. (AES Hawaii) and the predecessor of Hamakua Energy by reason of the provisions of the PPA that the Utilities have with the three IPPs. However, management has concluded that the Utilities are not the primary beneficiary of Kalaeloa, AES Hawaii and the predecessor of Hamakua Energy because the Utilities do not have the power to direct the activities that most significantly impact the three IPPs’ economic performance nor the obligation to absorb their expected losses, if any, that could potentially be significant to the IPPs. Thus, the Utilities have not consolidated Kalaeloa, AES Hawaii and the predecessor of Hamakua Energy in its unaudited condensed consolidated financial statements. In November 2017, HEI acquired the Hamakua project through Hamakua Energy, an indirect subsidiary of Pacific Current, and has consolidated it in HEI’s unaudited condensed consolidated financial statements since the acquisition. For the other PPAs with IPPs, the Utilities have concluded that the consolidation of the IPPs was not required because either the Utilities do not have variable interests in the IPPs due to the absence of an obligation in the PPAs for the Utilities to absorb any variability of the IPPs, or the IPPs were considered a “governmental organization,” and thus excluded from the scope of accounting standards for VIEs. Two IPPs of as-available energy declined to provide the information necessary for Utilities to determine the applicability of accounting standards for VIEs. If information is ultimately received from the IPPs, a possible outcome of future analyses of such information is the consolidation of one or both of such IPPs in the unaudited condensed consolidated financial statements. The consolidation of any significant IPP could have a material effect on the unaudited condensed 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 to the IPP. Commitments and contingencies. Contingencies . The Utilities are subject in the normal course of business to pending and threatened legal proceedings. Management does not anticipate that the aggregate ultimate liability arising out of these pending or threatened legal proceedings will be material to its financial position. However, the Utilities cannot rule out the possibility that such outcomes could have a material effect on the results of operations or liquidity for a particular reporting period in the future. Power purchase agreements . Purchases from all IPPs were as follows: Three months ended June 30 Six months ended June 30 (in millions) 2018 2017 2018 2017 Kalaeloa $ 52 $ 48 $ 92 $ 88 AES Hawaii 32 35 69 64 HPOWER 17 16 32 33 Puna Geothermal Venture 4 10 15 18 Hamakua Energy 15 10 22 17 Other IPPs 1 41 34 71 60 Total IPPs $ 161 $ 153 $ 301 $ 280 1 Includes wind power, solar power, feed-in tariff projects and other PPAs. Kalaeloa Partners, L.P. Under a 1988 PPA, as amended, Hawaiian Electric is committed to purchase 208 MW of firm capacity from Kalaeloa. Hawaiian Electric and Kalaeloa are currently in negotiations to address the PPA term that ended on May 23, 2016. The PPA automatically extends on a month-to-month basis as long as the parties are still negotiating in good faith, but would end 60 days after either party notifies the other in writing that negotiations have terminated. Hawaiian Electric and Kalaeloa have agreed that neither party will terminate the PPA prior to October 31, 2018. This agreement contemplates continued negotiations between the parties and accounts for time needed for PUC approval of a negotiated resolution. AES Hawaii, Inc. Under a PPA entered into in March 1988, as amended (through Amendment No. 2) for a period of 30 years beginning September 1992, Hawaiian Electric agreed to purchase 180 MW of firm capacity from AES Hawaii. In August 2012, Hawaiian Electric filed an application with the PUC seeking an exemption from the PUC’s Competitive Bidding Framework to negotiate an amendment to the PPA to purchase 186 MW of firm capacity, and amend the energy pricing formula in the PPA. The PUC approved the exemption in April 2013, but Hawaiian Electric and AES Hawaii were not able to reach agreement on the amendment. In June 2015, AES Hawaii filed an arbitration demand regarding a dispute about whether Hawaiian Electric was obligated to buy up to 9 MW of additional capacity based on a 1992 letter. Hawaiian Electric responded to the arbitration demand and in October 2015, AES Hawaii and Hawaiian Electric entered into a settlement agreement to stay the arbitration proceeding. The settlement agreement included certain conditions precedent which, if satisfied, would have released the parties from the claims under the arbitration proceeding. Among the conditions precedent was the successful negotiation and PUC approval of an amendment to the existing PPA. In November 2015, Hawaiian Electric entered into Amendment No. 3 for which PUC approval was requested and subsequently denied in January 2017. Approval of Amendment No. 3 would have satisfied the final condition for effectiveness of the settlement agreement and resolved AES Hawaii's claims. Following the PUC's decision, the parties agreed to extend the stay of the arbitration proceeding, while settlement discussions continued. In February 2018, Hawaiian Electric reached agreement with AES Hawaii on Amendment No. 4, which was submitted to the PUC for approval in April 2018. Amendment No. 4, among other things, provides (1) that AES Hawaii will make certain operational commitments to improve reliability, (2) for inclusion of AES Hawaii in the Utilities’ greenhouse gas partnership, (3) provisions to allow AES Hawaii to reduce coal combustion by modifying its fuel consumption to include biomass upon approval by Hawaiian Electric, and (4) for release of an option agreement by Hawaiian Electric for land owned by AES Hawaii. Amendment No. 4 includes a stay of the arbitration proceeding pending review by the PUC. If approved by the PUC, Amendment No. 4 will resolve AES Hawaii’s claims. In June 2018, the PUC issued an order suspending the Amendment No. 4 docket pending a DOH decision on AES’ request for approval of its Emission Reduction Plan and partnership with Hawaiian Electric. Hu Honua Bioenergy, LLC. In May 2012, Hawaii Electric Light signed a PPA, which the PUC approved in December 2013, with Hu Honua Bioenergy, LLC (Hu Honua) for 21.5 MW of renewable, dispatchable firm capacity fueled by locally grown biomass from a facility on the island of Hawaii. Under the terms of the PPA, the Hu Honua plant was scheduled to be in service in 2016. However, Hu Honua encountered construction delays, failed to meet its obligations under the PPA and failed to provide adequate assurances that it could perform or had the financial means to perform. Hawaii Electric Light terminated the PPA on March 1, 2016. On November 30, 2016, Hu Honua filed a civil complaint in the United States District Court for the District of Hawaii that included claims purportedly arising out of the termination of Hu Honua’s PPA. On May 26, 2017, Hawaii Electric Light and Hu Honua entered into a settlement agreement that will settle all claims related to the termination of the original PPA. The settlement agreement was contingent on the PUC’s approval of an amended and restated PPA between Hawaii Electric Light and Hu Honua dated May 5, 2017. In July 2017, the PUC approved the amended and restated PPA. On August 25, 2017, the PUC’s approval was appealed by a third party. The appeal is still pending. Hu Honua is expected to be on-line by the end of 2018. 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. In the event a project does not proceed, or if it becomes probable the PUC will disallow cost recovery for all or part of a project, or if PUC-imposed caps on project costs are expected to be exceeded, project costs may need to be written off in amounts that could result in significant reductions in Hawaiian Electric’s consolidated net income. Enterprise Resource Planning/Enterprise Asset Management (ERP/EAM) implementation project. On August 11, 2016, the PUC approved the Utilities’ request to commence the ERP/EAM implementation project, subject to certain conditions, including a $77.6 million cap on cost recovery as well as a requirement that the Utilities pass onto customers a minimum of $244 million in benefits associated with the system over its 12 -year service life. The D&O approved the deferral of certain project costs and allowed the accrual of allowance for funds used during construction (AFUDC), but limited the AFUDC rate to 1.75% . Pursuant to the D&O and subsequent orders, in September 2017, the Utilities filed a bottom-up, low-level analysis of the project’s benefits and performance metrics and tracking mechanism for passing the project’s benefits on to customers. On November 30, 2017, the PUC issued an order, which, among other things, directed the Utilities to file a position statement regarding the reasonableness of the project, a reworked low-level benefits analysis and initial details of the metrics that will be used to demonstrate the achievement of benefits. On December 18, 2017, the Utilities filed their response to the order, re-affirming the need for the project and guaranteed minimum level of $244 million in benefits to customers. The response further noted that in Hawaiian Electric’s 2017 test year rate case, Hawaiian Electric and the Consumer Advocate have agreed in principle to a “rate case-centric” approach for a benefits delivery mechanism pending PUC approval. On January 4, 2018, the Consumer Advocate filed a statement of position (SOP) on the Utilities’ response, stating that it does not recommend revocation of the PUC’s prior conditional approval of the project or reductions to the previously ordered cost caps, and continues to recommend the use of a rate case-centric approach to facilitate pass through of the system’s benefits to customers. The Utilities filed a response to the Consumer Advocate’s SOP on January 11, 2018, noting among other things that the Consumer Advocate’s SOP is in general alignment with the Utilities’ position on the project. Monthly reports on the status and costs of the project continue to be filed. The parties have reached substantive agreement regarding the approach for delivering system benefits to customers, but are still in the process of developing an annual enterprise systems benefits report. The ERP/EAM Implementation Project is expected to go live in October 2018. As of June 30, 2018 , the Project incurred costs of $61.2 million of which $10.6 million were charged to other operation and maintenance (O&M) expense, $2.6 million relate to capital costs and $48.0 million are deferred costs. Schofield Generating Station Project. In August 2012, the PUC approved a waiver from the competitive bidding framework to allow Hawaiian Electric to negotiate with the U.S. Army for the construction of a 50 MW utility owned and operated firm, renewable and dispatchable generation facility at Schofield Barracks. In September 2015, the PUC approved Hawaiian Electric’s application to expend $167 million for the project. In approving the project, the PUC placed a cost cap of $167 million for the project, stated 90% of the cap is allowed for cost recovery through cost recovery mechanisms other than base rates, and stated the $167 million cap will be adjusted downward due to any reduction in the cost of the engine contract due to a reduction in the foreign exchange rate. Hawaiian Electric was required to take all necessary steps to lock in the lowest possible exchange rate. On January 5, 2016, Hawaiian Electric executed window forward contracts, which lowered the cost of the engine contract by $9.7 million , resulting in a revised project cost cap of $157.3 million . Hawaiian Electric received all of the major permits for the project, including a 35 -year site lease from the U.S. Army. Construction of the facility began in October 2016, and the facility was placed in service on June 7, 2018. A request to recover the capital costs of the project through the newly-established Major Project Interim Recovery (MPIR) adjustment mechanism was approved by the PUC on June 27, 2018. (See “Decoupling” section below for MPIR guidelines and capital cost recovery discussion.) A decision on recovery of related operation and maintenance expense (approximately $1.8 million annualized) during the interim period (i.e., between the in-service date and the next rate case) is pending. Project costs incurred as of June 30, 2018 amounted to $141.5 million . West Loch PV Project. In July 2016, Hawaiian Electric announced plans to build, own and operate a utility-owned, grid-tied 20 -MW (ac) solar facility on property owned by the Department of the Navy. In June 2017, the PUC approved the expenditure of funds for the project, including Hawaiian Electric’s proposed project cost cap of $67 million and a performance guarantee to provide energy at 9.56 cents /KWH or less to the system. In approving the project, the PUC agreed that the project is eligible for recovery of costs offset by related net benefits under the newly-established MPIR adjustment mechanism. (See “Decoupling” section below for MPIR guidelines and capital cost recovery discussion.) Hawaiian Electric provided supplemental materials in August 2017, as requested by the PUC, to support meeting the MPIR guidelines, accompanied by system performance guarantee and cost savings sharing mechanisms. A decision on these matters is pending. Hawaiian Electric executed a fixed-price Engineering, Procurement, and Construction (EPC) contract for the project on December 6, 2017. The EPC contract includes the cost of the solar panels for the project, which is not subject to modification due to any tariffs that may be imposed under the current photovoltaic (PV) cell and module import tariffs. Construction of the facility began in the second quarter of 2018, and the facility is expected to be placed in service in the second quarter of 2019. Project costs incurred as of June 30, 2018 amounted to $9.1 million . Hawaiian Telcom . The Utilities each have separate agreements for the joint ownership and maintenance of utility poles with Hawaiian Telcom, Inc. (Hawaiian Telcom), the respective county or counties in which each utility operates and other third parties, such as the State of Hawaii. The agreements set forth various circumstances requiring pole removal/installation/replacement and the sharing of costs among the joint pole owners. The agreements allow for the cost of work done by one joint pole owner to be shared by the other joint pole owners based on the apportionment of costs in the agreements. The Utilities have maintained, replaced and installed the majority of the jointly-owned poles in each of the respective service territories, and have billed the other joint pole owners for their respective share of the costs. The counties and the State have been reimbursing the Utilities for their share of the costs. However, Hawaiian Telcom has been delinquent in reimbursing the Utilities for its share of the costs. Hawaiian Electric initiated a dispute resolution process to collect the unpaid amounts from Hawaiian Telcom as specified by the joint pole agreement. This dispute resolution process is stayed pending PUC approval of a settlement agreement further described below. For Hawaii Electric Light, the agreement does not specify an alternative dispute resolution process, and thus a complaint for payment was filed with the Circuit Court in June 2016. This complaint is stayed pending PUC approval of a settlement agreement further described below. Maui Electric has not yet commenced any legal action to recover the delinquent amounts. On April 4, 2018, the Utilities and Hawaiian Telcom entered into several agreements, subject to PUC approval, for the purchase by the Utilities of Hawaiian Telcom’s interest in all the joint poles, and licensing and operating agreement between the Utilities and Hawaiian Telcom subsequent to the transfer of the joint pole interest to the Utilities. Consideration of approximately $48 million to be paid for Hawaiian Telcom’s interest in the poles will be offset in part by the receivables owed by Hawaiian Telcom to the Utilities. As of June 30, 2018 , receivables under the joint pole agreement, net of a reserve for a portion of the interest, from Hawaiian Telcom are $17.4 million ( $11.6 million at Hawaiian Electric, $4.7 million at Hawaii Electric Light, and $1.1 million at Maui Electric). Although PUC approval has not yet been received, management expects the net receivable amounts will be realized. The remaining consideration for acquiring Hawaiian Telcom’s interest in the joint poles is to be settled through the set-off of current and future license fees due from Hawaiian Telcom, after which Hawaiian Telcom would make cash payments for license fees under the agreement. Environmental regulation . The Utilities are subject to environmental laws and regulations that regulate the operation of existing facilities, the construction and operation of new facilities and the proper cleanup and disposal of hazardous waste and toxic substances. Hawaiian Electric, Hawaii Electric Light and Maui Electric, like other utilities, periodically encounter petroleum or other chemical releases associated with current or previous operations. The Utilities report and take action on these releases when and as required by applicable law and regulations. The Utilities believe the costs of responding to such releases identified to date will not have a material effect, individually or in the aggregate, on Hawaiian Electric’s consolidated results of operations, financial condition or liquidity. Former Molokai Electric Company generation site . In 1989, Maui Electric acquired 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 Environmental Protection Agency (EPA) has since identified environmental impacts in the subsurface soil at the Site. Although Maui Electric never operated at the Site or owned the Site property, after discussions with the EPA and the Hawaii Department of Health (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 environmental contamination. 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. Maui Electric has a reserve balance of $2.7 million as of June 30, 2018 , representing the probable and reasonably estimated cost to complete 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. Pearl Harbor sediment study . In July 2014, the U.S. Navy notified Hawaiian Electric of the Navy’s determination that Hawaiian Electric is a Potentially Responsible Party responsible for cleanup of PCB contamination in sediment in the area offshore of the Waiau Power Plant as part of the Pearl Harbor Superfund Site. The Navy has also requested that Hawaiian Electric reimburse the costs incurred by the Navy to investigate the area. The Navy has completed a remedial investigation and a feasibility study (FS) for the remediation of contaminated sediment at several locations in Pearl Harbor and issued its Final FS Report on June 29, 2015. On February 2, 2016, the Navy released the Proposed Plan for Pearl Harbor Sediment Remediation and Hawaiian Electric submitted comments. The extent of the contamination, the appropriate remedial measures to address it and Hawaiian Electric’s potential responsibility for any associated costs have not been determined. On March 23, 2015, Hawaiian Electric received a letter from the EPA requesting that Hawaiian Electric submit a work plan to assess potential sources and extent of PCB contamination onshore at the Waiau Power Plant. Hawaiian Electric submitted a sampling and analysis (SAP) work plan to the EPA and the DOH. Onshore sampling at the Waiau Power Plant was completed in two phases in December 2015 and June 2016. Appropriate remedial measures are being developed to address the extent of the onshore contamination, and any associated costs have not yet been determined. As of June 30, 2018 , the reserve account balance recorded by Hawaiian Electric to address the PCB contamination was $4.7 million . The reserve represents the probable and reasonably estimable cost to complete the onshore and offshore investigations and the remediation of PCB contamination in the offshore sediment. The final remediation costs will depend on the assessment of potential source control requirements, as well as the further investigation of contaminated sediment offshore from the Waiau Power Plant by the Navy. Regulatory proceedings Decoupling . Decoupling is a regulatory model that is intended to facilitate meeting the State of Hawaii’s goals to transition to a clean energy economy and achieve an aggressive renewable portfolio standard. The decoupling model, implemented in Hawaii in 2011, delinks revenues from sales and includes annual rate adjustments. The decoupling mechanism has the following major components: (1) a sales decoupling component via a revenue balancing account (RBA), (2) a revenue escalation component via a rate adjustment mechanism (RAM), (3) major project interim recovery component (MPIR), (4) performance incentive mechanisms (PIMs), and (5) an earnings sharing mechanism, which would provide for a reduction of revenues between rate cases in the event the utility exceeds the return on average common equity (ROACE) allowed in its most recent rate case. Under the decoupling mechanism, triennial general rate cases are required. Rate adjustment mechanism . On March 31, 2015, the PUC issued an Order (the 2015 Decoupling Order) that modified the RAM portion of the decoupling mechanism to be capped at the lesser of the RAM revenue adjustment as then determined (based on an inflationary adjustment for certain O&M expenses and return on investment for certain rate base changes) and a RAM revenue adjustment calculated based on the cumulative annual compounded increase in Gross Domestic Product Price Index applied to annualized target revenues (the RAM Cap). The 2015 Decoupling Order provided a specific basis for calculating the target revenues until the next rate case, at which time the target revenues will reset upon the issuance of an interim or final D&O in a rate case. The RAM Cap impacted the Utilities' recovery of capital investments as follows: • Hawaiian Electric's RAM revenues were limited to the RAM Cap in 2017 and 2018. • Maui Electric's RAM revenues in 2017 and 2018 were below the RAM Cap. • Hawaii Electric Light’s RAM revenues in 2017 and 2018 were below the RAM Cap. For the RAM years 2014 - 2016, Hawaiian Electric was allowed to record RAM revenue beginning on January 1 and to bill such amounts from June 1 of the applicable year through May 31 of the following year. Subsequent to 2016, Hawaiian Electric reverted to the RAM provisions initially approved in March 2011—i.e., RAM is both accrued and billed from June 1 of each year through May 31 of the following year. Major project interim recovery . On April 27, 2017, the PUC issued an Order that provided guidelines for interim recovery of revenues to support major projects placed in service between general rate cases. Projects eligible for recovery through the MPIR adjustment mechanism are major projects (i.e., projects with capital expenditures net of customer contributions in excess of $2.5 million ), including, but not restricted to, renewable energy, energy efficiency, utility scale generation, grid modernization and smaller qualifying projects grouped into programs for review. The MPIR adjustment mechanism provides the opportunity to recover revenues for approved costs of eligible projects placed in service between general rate cases wherein cost recovery is limited by a revenue cap and is not provided by other effective recovery mechanisms. The request for PUC approval must include a business case and all costs that are allowed to be recovered through the MPIR adjustment mechanism must be offset by any related benefits. The guidelines provide for accrual of revenues approved for recovery upon in-service date to be collected from customers through the annual RBA tariff. Capital projects that are not recovered through the MPIR would be included in the RAM and be subject to the RAM Cap, until the next rate case when the Utilities would request recovery in base rates. The PUC has approved recovery of a capped portion of the Schofield generating station through the MPIR mechanism. Hawaiian Electric has filed an MPIR for Schofield of $6.6 million in annual revenues, which would adjust revenues in July through December 2018 and be collected in customer bills beginning in June 2019. Performance incentive mechanisms . The PUC has ordered the following performance incentive mechanisms (PIM), which will be reflected in the annual decoupling filing beginning in 2019. The PIM tariff requires the performance targets, deadbands and the amount of maximum financial incentives used to determine the PIM financial incentive levels for each of the PIMs to be re-determined upon issuance of an interim or final order in a general rate case for each utility. • Service Quality performance incentives are measured on a calendar-year basis beginning in 2018. • Service Reliability Performance measured by System Average Interruption Duration and Frequency Indexes (penalties only). Target performance is based on each utility’s historical 10 -year average performance with a deadband of one standard deviation. The maximum penalty for each performance index is 20 basis points applied to the common equity share of each respective utility’s rate base (or maximum penalties of approximately $6.2 million - pending adjustment to $6.7 million as a result of the final orders for the Hawaiian Electric and Hawaii Electric Light rate cases - for both indices in total for the three utilities). • Call Center Performance measured by the percentage of calls answered within 30 seconds. Target performance is based on the annual average performance for each utility for the most recent 8 quarters with a deadband of 3% above and below the target. The maximum penalty or incentive is 8 basis points applied to the common equity share of each respective utility’s rate base (or maximum penalties or incentives of approximately $1.2 million - pending adjustment to $1.3 million as a result of the final orders for the Hawaiian Electric and Hawaii Electric Light rate cases - in total for the three utilities). • Demand Response measured by the demand response resources acquired in 2018. The award is equal to 5% of the total of the annual maintenance cost for cost-effective demand response capability contracted with aggregators by December 31, 2018. The maximum award is $0.5 million for the three utilities in total and there are no penalties. This incentive applies to one-time performance in 2018 only. • Procurement of low-cost variable renewable resources through the request for proposal process in 2018 measured by comparison of the procurement price to target prices. The incentive is 20% of savings determined by comparing procured price to a target of 11.5 cents per kilowatt-hour for renewable projects with storage capability and 9.5 cents per kilowatt-hour for energy-only renewable projects. This incentive has a cap of $3.5 million for the three utilities in total and has no penalty. Annual decoupling filings . The net annual incremental amounts to be collected (refunded) from June 1, 2018 through May 31, 2019 are as follows: (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric 2018 Annual incremental RAM adjusted revenues $ 13.8 $ 3.4 $ 2.0 Annual change in accrued RBA balance as of December 31, 2017 (and associated revenue taxes) $ 6.6 $ 0.7 $ 3.2 2017 Tax Act Adjustment $ — $ — $ (2.8 ) Net annual incremental amount to be collected under the tariffs $ 20.4 $ 4.1 $ 2.4 * Maui Electric incorporated a $2.8 million adjustment into its 2018 annual decoupling filing to incorporate the impact of the lower corporate income tax rate and the exclusion of the domestic production activities deduction, as a result of the 2017 Tax Cuts and Jobs Act (the Tax Act). Tax adjustments for Hawaiian Electric and Hawaii Electric Light are described in the discussion below of their respective on-going rate cases. Performance-based regulation proceeding. On April 18, 2018, the PUC issued an order, instituting a proceeding to investigate performance-based regulation (PBR). The PUC intends to provide a forum to collaboratively develop modifications or new components to better align utility and customer interests. The PUC stated that PBR seeks to utilize both revenue adjustment mechanisms and performance mechanisms to more strongly align utilities’ incentives with custo

Bank segment

Bank segment	6 Months Ended
	Jun. 30, 2018
Bank Subsidiary [Abstract]
Bank segment	Bank segment Selected financial information American Savings Bank, F.S.B. Statements of Income Data Three months ended June 30 Six months ended June 30 (in thousands) 2018 2017 2018 2017 Interest and dividend income Interest and fees on loans $ 54,633 $ 52,317 $ 107,433 $ 103,059 Interest and dividends on investment securities 8,628 6,763 17,830 13,743 Total interest and dividend income 63,261 59,080 125,263 116,802 Interest expense Interest on deposit liabilities 3,284 2,311 6,241 4,414 Interest on other borrowings 393 824 889 1,640 Total interest expense 3,677 3,135 7,130 6,054 Net interest income 59,584 55,945 118,133 110,748 Provision for loan losses 2,763 2,834 6,304 6,741 Net interest income after provision for loan losses 56,821 53,111 111,829 104,007 Noninterest income Fees from other financial services 4,744 5,810 9,398 11,420 Fee income on deposit liabilities 5,138 5,565 10,327 10,993 Fee income on other financial products 1,675 1,971 3,329 3,837 Bank-owned life insurance 1,133 1,925 2,004 2,908 Mortgage banking income 617 587 1,230 1,376 Other income, net 536 391 972 849 Total noninterest income 13,843 16,249 27,260 31,383 Noninterest expense Compensation and employee benefits 23,655 24,541 48,095 47,583 Occupancy 4,194 4,185 8,474 8,339 Data processing 3,540 3,207 7,004 6,487 Services 3,028 2,766 6,075 5,126 Equipment 1,874 1,771 3,602 3,519 Office supplies, printing and postage 1,491 1,527 2,998 3,062 Marketing 1,085 839 1,730 1,356 FDIC insurance 727 822 1,440 1,550 Other expense 4,556 4,906 8,657 9,412 Total noninterest expense 44,150 44,564 88,075 86,434 Income before income taxes 26,514 24,796 51,014 48,956 Income taxes 5,953 8,063 11,493 16,410 Net income $ 20,561 $ 16,733 $ 39,521 $ 32,546 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended June 30 Six months ended June 30 (in thousands) 2018 2017 2018 2017 Interest and dividend income 63,261 59,080 $ 125,263 $ 116,802 Noninterest income 13,843 16,249 27,260 31,383 *Revenues-Bank 77,104 75,329 152,523 148,185 Total interest expense 3,677 3,135 7,130 6,054 Provision for loan losses 2,763 2,834 6,304 6,741 Noninterest expense 44,150 44,564 88,075 86,434 Less: Retirement defined benefits expense—other than service costs (403 ) (201 ) (790 ) (396 ) *Expenses-Bank 50,187 50,332 100,719 98,833 *Operating income-Bank 26,917 24,997 51,804 49,352 Add back: Retirement defined benefits expense—other than service costs 403 201 790 396 Income before income taxes $ 26,514 $ 24,796 $ 51,014 $ 48,956 American Savings Bank, F.S.B. Statements of Comprehensive Income Data Three months ended June 30 Six months ended June 30 (in thousands) 2018 2017 2018 2017 Net income $ 20,561 $ 16,733 $ 39,521 $ 32,546 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 tax benefits (taxes) of $1,592, $(1,334), $6,459 and $(1,482), respectively (4,348 ) 2,021 (17,645 ) 2,244 Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $133, $133, $827 and $537, respectively 366 202 1,588 814 Other comprehensive income (loss), net of taxes (3,982 ) 2,223 (16,057 ) 3,058 Comprehensive income $ 16,579 $ 18,956 $ 23,464 $ 35,604 American Savings Bank, F.S.B. Balance Sheets Data (in thousands) June 30, 2018 December 31, 2017 Assets Cash and due from banks $ 120,189 $ 140,934 Interest-bearing deposits 109,230 93,165 Investment securities Available-for-sale, at fair value 1,409,528 1,401,198 Held-to-maturity, at amortized cost (fair value of $61,444 and $44,412, respectively) 62,630 44,515 Stock in Federal Home Loan Bank, at cost 10,158 9,706 Loans held for investment 4,774,744 4,670,768 Allowance for loan losses (52,803 ) (53,637 ) Net loans 4,721,941 4,617,131 Loans held for sale, at lower of cost or fair value 5,248 11,250 Other 462,469 398,570 Goodwill 82,190 82,190 Total assets $ 6,983,583 $ 6,798,659 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,812,348 $ 1,760,233 Deposit liabilities—interest-bearing 4,303,761 4,130,364 Other borrowings 126,930 190,859 Other 131,063 110,356 Total liabilities 6,374,102 6,191,812 Commitments and contingencies Common stock 1 1 Additional paid in capital 346,188 345,018 Retained earnings 310,298 292,957 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (32,596 ) $ (14,951 ) Retirement benefit plans (14,410 ) (47,006 ) (16,178 ) (31,129 ) Total shareholder’s equity 609,481 606,847 Total liabilities and shareholder’s equity $ 6,983,583 $ 6,798,659 Other assets Bank-owned life insurance $ 150,797 $ 148,775 Premises and equipment, net 186,620 136,270 Prepaid expenses 4,993 3,961 Accrued interest receivable 19,597 18,724 Mortgage-servicing rights 8,509 8,639 Low-income housing equity investments 63,033 59,016 Real estate acquired in settlement of loans, net — 133 Other 28,920 23,052 $ 462,469 $ 398,570 Other liabilities Accrued expenses $ 63,734 $ 39,312 Federal and state income taxes payable 1,200 3,736 Cashier’s checks 28,236 27,000 Advance payments by borrowers 10,415 10,245 Other 27,478 30,063 $ 131,063 $ 110,356 Bank-owned life insurance is life insurance purchased by ASB on the lives of certain key employees, with ASB as the beneficiary. The insurance is used to fund employee benefits through tax-free income from increases in the cash value of the policies and insurance proceeds paid to ASB upon an insured’s death. Other borrowings consisted of securities sold under agreements to repurchase and advances from the Federal Home Loan Bank (FHLB) of $77 million and $50 million , respectively, as of June 30, 2018 and $141 million and $50 million , respectively, as of December 31, 2017 . Investment securities. The major components of investment securities were as follows: Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair value Amount Number of issues Fair value Amount June 30, 2018 Available-for-sale U.S. Treasury and federal agency obligations $ 179,986 $ 72 $ (4,125 ) $ 175,933 19 $ 98,578 $ (2,018 ) 9 $ 67,283 $ (2,107 ) Mortgage-related securities- FNMA, FHLMC and GNMA 1,218,313 350 (40,831 ) 1,177,832 81 694,629 (19,345 ) 83 456,218 (21,486 ) Corporate bonds 40,331 23 (18 ) 40,336 4 23,841 (18 ) — — — Mortgage revenue bond 15,427 — — 15,427 — — — — — — $ 1,454,057 $ 445 $ (44,974 ) $ 1,409,528 104 $ 817,048 $ (21,381 ) 92 $ 523,501 $ (23,593 ) Held-to-maturity Mortgage-related securities- FNMA, FHLMC and GNMA $ 62,630 $ 41 $ (1,227 ) $ 61,444 3 $ 41,138 $ (1,227 ) — $ — $ — $ 62,630 $ 41 $ (1,227 ) $ 61,444 3 $ 41,138 $ (1,227 ) — $ — $ — December 31, 2017 Available-for-sale U.S. Treasury and federal agency obligations $ 185,891 $ 438 $ (2,031 ) $ 184,298 15 $ 83,137 $ (825 ) 8 $ 62,296 $ (1,206 ) Mortgage-related securities- FNMA, FHLMC and GNMA 1,220,304 793 (19,624 ) 1,201,473 67 653,635 (6,839 ) 77 459,912 (12,785 ) Mortgage revenue bond 15,427 — — 15,427 — — — — — — $ 1,421,622 $ 1,231 $ (21,655 ) $ 1,401,198 82 $ 736,772 $ (7,664 ) 85 $ 522,208 $ (13,991 ) Held-to-maturity Mortgage-related securities- FNMA, FHLMC and GNMA $ 44,515 $ 1 $ (104 ) $ 44,412 2 $ 35,744 $ (104 ) — $ — $ — $ 44,515 $ 1 $ (104 ) $ 44,412 2 $ 35,744 $ (104 ) — $ — $ — ASB does not believe that the investment securities that were in an unrealized loss position at June 30, 2018 , represent an other-than-temporary impairment (OTTI). 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 contractual cash flows of the U.S. Treasury, federal agency obligations and mortgage-related securities are backed by the full faith and credit guaranty of the United States government or an agency of the government. The corporate bonds are all investment grade and rated A- or higher. ASB does not intend to sell the securities before the recovery of its amortized cost basis and there have been no adverse changes in the timing of the contractual cash flows for the securities. ASB did not recognize OTTI for the quarters and six months ended June 30, 2018 and 2017 . U.S. Treasury, federal agency obligations, corporate, and the mortgage revenue bond 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 investment securities were as follows: June 30, 2018 Amortized cost Fair value (in thousands) Available-for-sale Due in one year or less $ 25,005 $ 24,860 Due after one year through five years 105,425 104,020 Due after five years through ten years 77,526 75,563 Due after ten years 27,788 27,253 235,744 231,696 Mortgage-related securities-FNMA, FHLMC and GNMA 1,218,313 1,177,832 Total available-for-sale securities $ 1,454,057 $ 1,409,528 Held-to-maturity Mortgage-related securities-FNMA, FHLMC and GNMA $ 62,630 $ 61,444 Total held-to-maturity securities $ 62,630 $ 61,444 Proceeds from the sale of available-for-sale securities were nil for both the three and six months ended June 30, 2018 and 2017 . Gross realized gains and losses were nil for both the three and six months ended June 30, 2018 and 2017 . Loans. The components of loans were summarized as follows: June 30, 2018 December 31, 2017 (in thousands) Real estate: Residential 1-4 family $ 2,099,950 $ 2,118,047 Commercial real estate 758,835 733,106 Home equity line of credit 938,902 913,052 Residential land 16,032 15,797 Commercial construction 124,421 108,273 Residential construction 14,873 14,910 Total real estate 3,953,013 3,903,185 Commercial 593,596 544,828 Consumer 228,804 223,564 Total loans 4,775,413 4,671,577 Less: Deferred fees and discounts (669 ) (809 ) Allowance for loan losses (52,803 ) (53,637 ) Total loans, net $ 4,721,941 $ 4,617,131 ASB's policy is to require private mortgage insurance on all real estate loans when the loan-to-value ratio of the property exceeds 80% of the lower of the appraised value or purchase price at origination. For non-owner occupied residential properties, the loan-to-value ratio may not exceed 80% of the lower of the appraised value or purchase price at origination. ASB is subject to the risk that the private mortgage insurance company cannot satisfy the bank's claim on policies. Allowance for loan losses. The allowance for loan losses (balances and changes) and financing receivables were as follows: (in thousands) Residential 1-4 family Commercial real estate Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Unallo-cated Total Three months ended June 30, 2018 Allowance for loan losses: Beginning balance $ 2,525 $ 15,959 $ 7,982 $ 674 $ 4,361 $ 4 $ 10,355 $ 12,035 $ — $ 53,895 Charge-offs — — (144 ) (9 ) — — (540 ) (3,888 ) — (4,581 ) Recoveries 14 — 13 46 — — 280 373 — 726 Provision 400 (661 ) (517 ) (69 ) 255 — 66 3,289 — 2,763 Ending balance $ 2,939 $ 15,298 $ 7,334 $ 642 $ 4,616 $ 4 $ 10,161 $ 11,809 $ — $ 52,803 Three months ended June 30, 2017 Allowance for loan losses: Beginning balance $ 2,781 $ 16,504 $ 5,417 $ 1,479 $ 7,257 $ 11 $ 14,902 $ 7,646 $ — $ 55,997 Charge-offs — — — (92 ) — — (752 ) (2,390 ) — (3,234 ) Recoveries 49 — 39 15 — — 299 357 — 759 Provision 300 2,336 71 (138 ) (2,551 ) (2 ) 103 2,715 — 2,834 Ending balance $ 3,130 $ 18,840 $ 5,527 $ 1,264 $ 4,706 $ 9 $ 14,552 $ 8,328 $ — $ 56,356 Six months ended June 30, 2018 Allowance for loan losses: Beginning balance $ 2,902 $ 15,796 $ 7,522 $ 896 $ 4,671 $ 12 $ 10,851 $ 10,987 $ — $ 53,637 Charge-offs (31 ) — (144 ) (17 ) — — (1,142 ) (8,120 ) — (9,454 ) Recoveries 68 — 27 51 — — 1,450 720 — 2,316 Provision — (498 ) (71 ) (288 ) (55 ) (8 ) (998 ) 8,222 — 6,304 Ending balance $ 2,939 $ 15,298 $ 7,334 $ 642 $ 4,616 $ 4 $ 10,161 $ 11,809 $ — $ 52,803 June 30, 2018 Ending balance: individually evaluated for impairment $ 1,027 $ 53 $ 1,161 $ 7 $ — $ — $ 597 $ 3 $ 2,848 Ending balance: collectively evaluated for impairment $ 1,912 $ 15,245 $ 6,173 $ 635 $ 4,616 $ 4 $ 9,564 $ 11,806 $ — $ 49,955 Financing Receivables: Ending balance $ 2,099,950 $ 758,835 $ 938,902 $ 16,032 $ 124,421 $ 14,873 $ 593,596 $ 228,804 $ 4,775,413 Ending balance: individually evaluated for impairment $ 17,605 $ 993 $ 13,849 $ 1,171 $ — $ — $ 5,874 $ 91 $ 39,583 Ending balance: collectively evaluated for impairment $ 2,082,345 $ 757,842 $ 925,053 $ 14,861 $ 124,421 $ 14,873 $ 587,722 $ 228,713 $ 4,735,830 Six months ended June 30, 2017 Allowance for loan losses: Beginning balance $ 2,873 $ 16,004 $ 5,039 $ 1,738 $ 6,449 $ 12 $ 16,618 $ 6,800 $ — $ 55,533 Charge-offs (6 ) — (14 ) (92 ) — — (2,262 ) (5,200 ) — (7,574 ) Recoveries 58 — 130 218 — — 596 654 — 1,656 Provision 205 2,836 372 (600 ) (1,743 ) (3 ) (400 ) 6,074 — 6,741 Ending balance $ 3,130 $ 18,840 $ 5,527 $ 1,264 $ 4,706 $ 9 $ 14,552 $ 8,328 $ — $ 56,356 December 31, 2017 Ending balance: individually evaluated for impairment $ 1,248 $ 65 $ 647 $ 47 $ — $ — $ 694 $ 29 $ 2,730 Ending balance: collectively evaluated for impairment $ 1,654 $ 15,731 $ 6,875 $ 849 $ 4,671 $ 12 $ 10,157 $ 10,958 $ — $ 50,907 Financing Receivables: Ending balance $ 2,118,047 $ 733,106 $ 913,052 $ 15,797 $ 108,273 $ 14,910 $ 544,828 $ 223,564 $ 4,671,577 Ending balance: individually evaluated for impairment $ 18,284 $ 1,016 $ 8,188 $ 1,265 $ — $ — $ 4,574 $ 66 $ 33,393 Ending balance: collectively evaluated for impairment $ 2,099,763 $ 732,090 $ 904,864 $ 14,532 $ 108,273 $ 14,910 $ 540,254 $ 223,498 $ 4,638,184 Credit quality . ASB performs an internal loan review and grading on an ongoing basis. The review provides management with periodic information as to the quality of the loan portfolio and effectiveness of its lending policies and procedures. The objectives of the loan review and grading procedures are to identify, in a timely manner, existing or emerging credit trends so that appropriate steps can be initiated to manage risk and avoid or minimize future losses. Loans subject to grading include commercial, commercial real estate and commercial construction loans. Each commercial and commercial real estate loan is assigned an Asset Quality Rating (AQR) reflecting the likelihood of repayment or orderly liquidation of that loan transaction pursuant to regulatory credit classifications: Pass, Special Mention, Substandard, Doubtful and Loss. The AQR is a function of the probability of default model rating, the loss given default and possible non-model factors which impact the ultimate collectability of the loan such as character of the business owner/guarantor, interim period performance, litigation, tax liens and major changes in business and economic conditions. Pass exposures generally are well protected by the current net worth and paying capacity of the obligor or by the value of the asset or underlying collateral. Special Mention loans have potential weaknesses that, if left uncorrected, could jeopardize the liquidation of the debt. Substandard loans have well-defined weaknesses that jeopardize the liquidation of the debt and are characterized by the distinct possibility that 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. An asset classified Loss is considered uncollectible and has such little value that its continuance as a bankable asset is not warranted. The credit risk profile by internally assigned grade for loans was as follows: June 30, 2018 December 31, 2017 (in thousands) Commercial real estate Commercial construction Commercial Commercial real estate Commercial construction Commercial Grade: Pass $ 671,592 $ 99,632 $ 539,168 $ 630,877 $ 83,757 $ 492,942 Special mention 38,424 22,500 32,711 49,347 22,500 27,997 Substandard 48,819 2,289 21,717 52,882 2,016 23,421 Doubtful — — — — — 468 Loss — — — — — — Total $ 758,835 $ 124,421 $ 593,596 $ 733,106 $ 108,273 $ 544,828 The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 days past due 60-89 days past due Greater than 90 days Total past due Current Total financing receivables Recorded investment> 90 days and accruing June 30, 2018 Real estate: Residential 1-4 family $ 2,975 $ 1,348 $ 4,360 $ 8,683 $ 2,091,267 $ 2,099,950 $ — Commercial real estate — 725 — 725 758,110 758,835 — Home equity line of credit 2,075 288 2,545 4,908 933,994 938,902 — Residential land 741 111 631 1,483 14,549 16,032 — Commercial construction — — — — 124,421 124,421 — Residential construction — — — — 14,873 14,873 — Commercial 1,721 491 551 2,763 590,833 593,596 — Consumer 3,421 2,019 1,579 7,019 221,785 228,804 — Total loans $ 10,933 $ 4,982 $ 9,666 $ 25,581 $ 4,749,832 $ 4,775,413 $ — December 31, 2017 Real estate: Residential 1-4 family $ 1,532 $ 1,715 $ 5,071 $ 8,318 $ 2,109,729 $ 2,118,047 $ — Commercial real estate — — — — 733,106 733,106 — Home equity line of credit 425 114 2,051 2,590 910,462 913,052 — Residential land 23 — 625 648 15,149 15,797 — Commercial construction — — — — 108,273 108,273 — Residential construction — — — — 14,910 14,910 — Commercial 1,825 2,025 730 4,580 540,248 544,828 — Consumer 3,432 2,159 1,876 7,467 216,097 223,564 — Total loans $ 7,237 $ 6,013 $ 10,353 $ 23,603 $ 4,647,974 $ 4,671,577 $ — The credit risk profile based on nonaccrual loans, accruing loans 90 days or more past due and troubled debt restructuring (TDR) loans was as follows: (in thousands) June 30, 2018 December 31, 2017 Real estate: Residential 1-4 family $ 13,121 $ 12,598 Commercial real estate — — Home equity line of credit 6,051 4,466 Residential land 843 841 Commercial construction — — Residential construction — — Commercial 4,385 3,069 Consumer 2,820 2,617 Total nonaccrual loans $ 27,220 $ 23,591 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 $ 10,777 $ 10,982 Commercial real estate 993 1,016 Home equity line of credit 10,255 6,584 Residential land 328 425 Commercial construction — — Residential construction — — Commercial 1,716 1,741 Consumer 64 66 Total troubled debt restructured loans not included above $ 24,133 $ 20,814 The total carrying amount and the total unpaid principal balance of impaired loans were as follows: June 30, 2018 Three months ended June 30, 2018 Six months ended June 30, 2018 (in thousands) Recorded investment Unpaid principal balance Related Allowance Average recorded investment Interest income recognized* Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 8,966 $ 9,498 $ — $ 8,900 $ 50 $ 8,699 $ 157 Commercial real estate — — — — — — — Home equity line of credit 2,505 2,803 — 2,374 7 2,037 12 Residential land 1,141 1,449 — 1,132 5 1,150 10 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 4,158 5,079 — 3,026 10 2,691 20 Consumer 33 33 — 15 — 11 — $ 16,803 $ 18,862 $ — $ 15,447 $ 72 $ 14,588 $ 199 With an allowance recorded Real estate: Residential 1-4 family $ 8,639 $ 8,842 $ 1,027 $ 8,778 $ 97 $ 8,953 $ 190 Commercial real estate 993 993 53 997 10 1,003 21 Home equity line of credit 11,344 11,414 1,161 10,420 96 9,080 177 Residential land 30 30 7 40 1 58 3 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 1,716 1,716 597 1,738 30 1,848 66 Consumer 58 58 3 58 1 58 2 $ 22,780 $ 23,053 $ 2,848 $ 22,031 $ 235 $ 21,000 $ 459 Total Real estate: Residential 1-4 family $ 17,605 $ 18,340 $ 1,027 $ 17,678 $ 147 $ 17,652 $ 347 Commercial real estate 993 993 53 997 10 1,003 21 Home equity line of credit 13,849 14,217 1,161 12,794 103 11,117 189 Residential land 1,171 1,479 7 1,172 6 1,208 13 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 5,874 6,795 597 4,764 40 4,539 86 Consumer 91 91 3 73 1 69 2 $ 39,583 $ 41,915 $ 2,848 $ 37,478 $ 307 $ 35,588 $ 658 December 31, 2017 Three months ended June 30, 2017 Six months ended June 30, 2017 (in thousands) Recorded investment Unpaid principal balance Related allowance Average recorded investment Interest income recognized* Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 9,097 $ 9,644 $ — $ 9,304 $ 76 $ 9,429 $ 160 Commercial real estate — — — 143 11 182 11 Home equity line of credit 1,496 1,789 — 2,401 51 2,203 65 Residential land 1,143 1,434 — 1,075 8 1,016 34 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 2,328 3,166 — 1,949 2 3,428 8 Consumer 8 8 — 1 — — — $ 14,072 $ 16,041 $ — $ 14,873 $ 148 $ 16,258 $ 278 With an allowance recorded Real estate: Residential 1-4 family $ 9,187 $ 9,390 $ 1,248 $ 10,054 $ 117 $ 10,051 $ 236 Commercial real estate 1,016 1,016 65 1,292 14 1,296 28 Home equity line of credit 6,692 6,736 647 4,372 47 4,467 96 Residential land 122 122 47 1,532 24 1,804 61 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 2,246 2,252 694 2,562 68 4,915 469 Consumer 58 58 29 68 1 49 1 $ 19,321 $ 19,574 $ 2,730 $ 19,880 $ 271 $ 22,582 $ 891 Total Real estate: Residential 1-4 family $ 18,284 $ 19,034 $ 1,248 $ 19,358 $ 193 $ 19,480 $ 396 Commercial real estate 1,016 1,016 65 1,435 25 1,478 39 Home equity line of credit 8,188 8,525 647 6,773 98 6,670 161 Residential land 1,265 1,556 47 2,607 32 2,820 95 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 4,574 5,418 694 4,511 70 8,343 477 Consumer 66 66 29 69 1 49 1 $ 33,393 $ 35,615 $ 2,730 $ 34,753 $ 419 $ 38,840 $ 1,169 * Since loan was classified as impaired. Troubled debt restructurings. A loan modification is deemed to be a TDR when the borrower is determined to be experiencing financial difficulties and ASB grants a concession it would not otherwise consider. 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 or reduction 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 the second quarters and first six months of 2018 and 2017 and the impact on the allowance for loan losses were as follows: Three months ended June 30, 2018 Six months ended June 30, 2018 Number of contracts Outstanding recorded investment 1 Net increase in allowance Number of contracts Outstanding recorded investment 1 Net increase in allowance (dollars in thousands) Pre-modification Post-modification (as of period end) Pre-modification Post-modification (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family — $ — $ — $ — 1 $ 339 $ 344 $ 16 Commercial real estate — — — — — — — — Home equity line of credit 21 3,338 3,338 554 39 5,508 5,512 942 Residential land — — — — 1 109 109 — Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial 2 43 43 42 7 2,294 2,294 42 Consumer — — — — — — — — 23 $ 3,381 $ 3,381 $ 596 48 $ 8,250 $ 8,259 $ 1,000 Three months ended June 30, 2017 Six months ended June 30, 2017 Number of contracts Outstanding recorded 1 Net increase in allowance Number of contracts Outstanding recorded 1 Net increase in allowance (dollars in thousands) Pre-modification Post-modification (as of period end) Pre-modification Post-modification (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 2 $ 360 $ 360 $ — 5 $ 872 $ 880 $ 45 Commercial real estate — — — — — — — — Home equity line of credit 5 298 298 59 13 524 510 93 Residential land — — — — — — — — Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial — — — — 1 342 342 — Consumer — — — — 1 59 59 27 7 $ 658 $ 658 $ 59 20 $ 1,797 $ 1,791 $ 165 1 The reported balances include loans that became TDR during the period, and were fully paid-off, charged-off, or sold prior to period end. Loans modified in TDRs that experienced a payment default of 90 days or more during the second quarters and first six months of 2018 and 2017 , and for which the payment of default occurred within one year of the modification, were as follows: Three months ended June 30, 2018 Six months ended June 30, 2018 (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 — $ — — $ — Commercial real estate — — — — Home equity line of credit 1 100 2 181 Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial 1 291 1 291 Consumer — — — — 2 $ 391 3 $ 472 Three months ended June 30, 2017 Six months ended June 30, 2017 (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 $ 222 2 $ 523 Commercial real estate — — — — Home equity line of credit — — — — Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial — — — — Consumer — — — — 1 $ 222 2 $ 523 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 modified in a TDR totaled $0.01 million and nil at June 30, 2018 and December 31, 2017 . The Company had $5.0 million and $4.3 million of consumer mortgage loans collateralized by residential real estate property that were in the process of foreclosure at June 30, 2018 and December 31, 2017 , respectively. 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 loans other than the servicing rights of certain loans sold. ASB received proceeds from the sale of residential mortgages of $44.3 million and $39.3 million for the three months ended June 30, 2018 and 2017 and $77.4 million and $79.9 million for the six months ended June 30, 2018 and 2017 , respectively, and recognized gains on such sales of $0.6 million for both the three months ended June 30, 2018 and 2017 and $1.2 million and $1.4 million for the six months ended June 30, 2018 and 2017 , respectively. There were no repurchased mortgage loans for the three and six months ended June 30, 2018 and 2017 . The repurchase reserve was $0.1 million as of June 30, 2018 and 2017 . Mortgage servicing fees, a component of other income, net, were $0.8 million and $0.7 million for the three months ended June 30, 2018 and 2017 , respectively, and $1.5 million for both the six months ended June 30, 2018 and 2017 . Changes in the carrying value of mortgage servicing rights were as follows: (in thousands) Gross 1 Accumulated amortization 1 Valuation allowance Net June 30, 2018 $ 18,238 $ (9,729 ) $ — $ 8,509 December 31, 2017 17,511 (8,872 ) — 8,639 1 Reflects the impact of loans paid in full. Changes related to mortgage servicing rights were as follows: Three months ended June 30 Six months ended June 30 (in thousands) 2018 2017 2018 2017 Mortgage servicing rights Beginning balance $ 8,541 $ 9,294 $ 8,639 $ 9,373 Amount capitalized 392 362 727 798 Amortization (424 ) (475 ) (857 ) (990 ) Other-than-temporary impairment — — — — Carrying amount before valuation allowance 8,509 9,181 8,509 9,181 Valuation allowance for mortgage servicing rights Beginning balance — — — — Provision (recovery) — — — — Other-than-temporary impairment — — — — Ending balance — — — — Net carrying value of mortgage servicing rights $ 8,509 $ 9,181 $ 8,509 $ 9,181 ASB capitalizes mortgage servicing rights (MSRs) acquired upon the sale of mortgage loans with servicing rights retained. On a monthly basis, ASB compares the net carrying value of the mortgage servicing rights to its fair value to determine if there are any changes to the valuation allowance and/or other-than-temporary impairment for the mortgage servicing rights. ASB’s MSRs are stratified based on predominant risk characteristics of the underlying loans including loan type such as fixed-rate 15 and 30 year mortgages and note rate in bands of 50 to 100 basis points. For each stratum, fair value is calculated by discounting expected net income streams using discount rates that reflect industry pricing for similar assets. 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. 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. ASB uses a present value cash flow model using techniques described above to estimate the fair value of MSRs. Impairment is recognized through a valuation allowance for each stratum when the carrying amount exceeds fair value, with any associated provision recorded as a component of loan servic

Credit agreements and long-term

Credit agreements and long-term debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Credit agreements and long-term debt	Credit agreements and long-term debt Credit agreements. HEI and Hawaiian Electric each entered into a separate agreement with a syndicate of eight financial institutions (the HEI Facility and Hawaiian Electric Facility, respectively, and together, the Facilities), effective July 3, 2017, to amend and restate their respective previously existing revolving unsecured credit agreements. The $150 million HEI Facility extended the term of the facility to June 30, 2022. In March 2018, the PUC approved Hawaiian Electric’s request to extend the term of the $200 million Hawaiian Electric Facility to June 30, 2022. As of June 30, 2018 and December 31, 2017 , no amounts were outstanding under the Facilities. The Facilities will be maintained to support each company’s respective short-term commercial paper program, but may be drawn on to meet each company’s respective working capital needs and general corporate purposes. Changes in long-term debt. On May 30, 2018, the Utilities issued, through a private placement pursuant to separate Note Purchase Agreements (the Note Purchase Agreements), the following unsecured notes bearing taxable interest (the Notes): Series 2018A Series 2018B Series 2018C Aggregate principal amount $67.5 million $17.5 million $15 million Fixed coupon interest rate 4.38% 4.53% 4.72% Maturity date May 30, 2028 March 30, 2033 May 30, 2048 Principal amount by company: Hawaiian Electric $52 million $12.5 million $10.5 million Hawaii Electric Light $9 million $3 million $3 million Maui Electric $6.5 million $2 million $1.5 million The Notes include substantially the same financial covenants and customary conditions as Hawaiian Electric’s credit agreement. Hawaiian Electric is also a party as guarantor under the Note Purchase Agreements entered into by Hawaii Electric Light and Maui Electric. All the proceeds of the Notes were used by Hawaiian Electric, Hawaii Electric Light and Maui Electric to finance their capital expenditures and/or to reimburse funds used for the payment of capital expenditures. The Notes may be prepaid in whole or in part at any time at the prepayment price of the principal amount plus a “Make-Whole Amount,” as defined in the Note Purchase Agreements. In June 2018, Mauo, LLC, an indirect subsidiary of Pacific Current, LLC, entered into an unsecured $50.5 million construction loan facility in connection with the construction of the solar-plus-storage PPA project. The loan bears interest at LIBOR plus 1.375% and matures in March 2021. As of June 30, 2018, no amounts were outstanding under the facility. The loan is guaranteed by HEI.

Shareholders' equity

Shareholders' equity	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Shareholders' equity	Shareholders’ equity Accumulated other comprehensive income/(loss) . Changes in the balances of each component of accumulated other comprehensive income/(loss) (AOCI) were as follows: HEI Consolidated Hawaiian Electric Consolidated (in thousands) Net unrealized gains (losses) on securities Unrealized gains (losses) on derivatives Retirement benefit plans AOCI Unrealized gains (losses) on derivatives Retirement benefit plans AOCI Balance, December 31, 2017 $ (14,951 ) $ — $ (26,990 ) $ (41,941 ) $ — $ (1,219 ) $ (1,219 ) Current period other comprehensive income (loss) (17,645 ) — 1,047 (16,598 ) — 57 57 Balance, June 30, 2018 $ (32,596 ) $ — $ (25,943 ) $ (58,539 ) $ — $ (1,162 ) $ (1,162 ) Balance, December 31, 2016 $ (7,931 ) $ (454 ) $ (24,744 ) $ (33,129 ) $ (454 ) $ 132 $ (322 ) Current period other comprehensive income 2,244 454 657 3,355 454 45 499 Balance, June 30, 2017 $ (5,687 ) $ — $ (24,087 ) $ (29,774 ) $ — $ 177 $ 177 Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Three months ended June 30 Six months ended June 30 Affected line item in the (in thousands) 2018 2017 2018 2017 Statements of Income / Balance Sheets HEI consolidated Derivatives qualifying as cash flow hedges: Window forward contracts $ — $ — $ — $ 454 Property, plant and equipment-electric utilities Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 5,350 3,930 10,496 7,851 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (4,827 ) (3,581 ) (9,449 ) (7,194 ) See Note 8 for additional details Total reclassifications $ 523 $ 349 $ 1,047 $ 1,111 Hawaiian Electric consolidated Derivatives qualifying as cash flow hedges: Window forward contracts $ — $ — $ — $ 454 Property, plant and equipment Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 4,853 3,621 9,506 7,239 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (4,827 ) (3,581 ) (9,449 ) (7,194 ) See Note 8 for additional details Total reclassifications $ 26 $ 40 $ 57 $ 499

Revenues

Revenues	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Adoption of ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” In the first quarter of 2018, the Company and Hawaiian Electric adopted ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” using the modified retrospective method. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with accounting standards in effect for those periods. The adoption of Topic 606 had no significant impact on the timing or pattern of revenue recognition for the Company or Hawaiian Electric. No practical expedients were used by the Company or Hawaiian Electric in the adoption of ASU No. 2014-09. Revenue from contracts with customers. The revenues subject to Topic 606 include the Utilities’ electric energy sales revenue and the Utilities’ and ASB’s transaction fees, as further described below. Electric Utilities . Electric energy sales and fees under tariff . Electric energy sales represent revenues from the generation and transmission of electricity to customers and utility fees include transaction-based fees associated with the delivery of electricity provided by the Utilities under tariffs approved by the PUC. Electric energy sales under tariff - Transaction pricing for electricity is determined and approved by the PUC for each rate class and includes revenues from the base electric charges, which are composed of (1) the customer, demand, energy, and minimum charges, and (2) the power factor, service voltage, and other adjustments as provided in each rate and rate rider schedule. The Utilities satisfy performance obligations over time, i.e., the Utilities generate and transfer control of the electricity over time as the customer simultaneously receives and consumes the benefits provided by the Utilities' performance. Payments from customers are generally due within 30 days from the end of the billing period. Utility fees - Pricing for transaction fees associated with electric service are set and approved by the PUC. Adjustments to the fee schedules are either requested by the Utilities during ratemaking years or during off cycle periods as needed. Such transaction fees include connection fees, late payment fees and other one-time transaction fees. These transaction-based fees are recognized at the point in time when the transaction has occurred and the performance obligation satisfied (e.g., connection fees are recognized when an electric connection is completed). Bank . Bank fees. Bank fees are primarily transaction-based and are recognized when the transaction has occurred and the performance obligation satisfied. From time to time, customers will request a fee waiver and ASB may grant reversals of fees. Revenues are not recorded for the estimated amount of fee reversals for each period. Under the new standard, certain fees paid to third parties that were previously recognized as a component of noninterest expense are now netted with fee income. The change in presentation will have no effect on the reported amount of operating income. Fees from other financial services - These fees primarily include debit card interchange income and fees, automated teller machine fees, credit card interchange income and fees, check ordering fees, wire fees, safe deposit rental fees, corporate/business fees, merchant income, online banking fees and international banking fees. Amounts paid to third parties for payment network expenses are included in this financial statement caption in ASB’s Statements of Income Data (in Revenues—Bank financial statement caption of HEI’s Consolidated Statements of Income). Previously, these expenses were recorded in the other expense financial statement caption of ASB’s Statements of Income Data (in Expenses—Bank financial statement caption of HEI’s Consolidated Statements of Income). Fee income on deposit liabilities - These fees primarily include “not sufficient funds” fees, monthly deposit account service charge fees, commercial account analysis fees and other deposit fees. Fee income on other financial products - These fees primarily include commission income from the sales of annuity, mutual fund, and life insurance products. In 2017, ASB began offering a fee-based, managed account product in which income is based on a percentage of assets under management. ASB satisfies its performance obligations under the managed account arrangement over time, and consequently, fees for assets under management are recognized over time as the customer simultaneously receives and consumes the benefit of asset management services. Fees recognized to date from the managed account product were minimal. Revenues from other sources. Revenues from other sources not subject to Topic 606 are accounted for as follows: Electric Utilities . Regulatory revenues . Regulatory revenues primarily consist of revenues from decoupling mechanism, cost recovery surcharges and the Tax Act adjustments. Decoupling mechanism - Under the decoupling mechanism, the Utilities are allowed to recover or refund the difference between actual revenue and the target revenue as determined by the PUC. These adjustments will be reflected in tariffs in future periods. Cost recovery surcharges - For the timely recovery of additional costs incurred, and reconciliation of costs and expenses included in tariffed rates, the Utilities recognize revenues under surcharge mechanisms approved by the PUC. These will be reflected in tariffs in future periods (e.g., ECAC and PPAC). Tax Act adjustments - These represent adjustments to revenues for the amounts included in tariffed revenues that will be returned to customers as a result of the Tax Act. Since revenue adjustments discussed above resulted from either agreements with the PUC or change in tax law, rather than contracts with customers, they are not subject to the scope of Topic 606. See Notes 1, 3 and 10 to the audited consolidated financial statements in the Company’s Form 10-K for the year ended December 31, 2017. Bank . Interest and dividend income . Interest and fees on loans are recognized in accordance with ASC Topic 310, Receivables , including the related allowance for loan losses. Interest and dividends on investment securities are recognized in accordance with ASC Topic 320, Investments-Debt and Equity Securities. See Notes 1 and 4 to the audited consolidated financial statements in the Company’s Form 10-K for the year ended December 31, 2017. Other bank noninterest income . Other bank noninterest income primarily consists of mortgage banking income and bank-owned life insurance income. Mortgage banking income - Mortgage banking income consists primarily of realized and unrealized gains on sale of loans accounted for pursuant to ASC Topic 860, Transfers and Servicing . Interest rate lock commitments and forward loan sales are considered derivatives and are accounted pursuant to ASC Topic 815, Derivatives and Hedging . Bank-Owned Life Insurance (BOLI) - The recognition of BOLI cash surrender value does not represent a contract with a customer and is accounted for in accordance with Emerging Issues Task Force Issue 06-05, Accounting for Purchases of Life Insurance-Determining the Amount that Could be Realized in Accordance with FASB Technical Bulletin No. 85-4, Accounting for Purchases of Life Insurance . Revenue disaggregation. The following tables disaggregates revenues by major source, timing of revenue recognition, and segment: Three months ended June 30, 2018 Six months ended June 30, 2018 Electric utility Bank Other Total Electric utility Bank Other Total (in thousands) Revenues from contracts with customers Electric energy sales - residential $ 185,217 $ — $ — $ 185,217 $ 363,806 $ — $ — $ 363,806 Electric energy sales - commercial 206,169 — — 206,169 395,167 — — 395,167 Electric energy sales - large light and power 214,676 — — 214,676 406,997 — — 406,997 Electric energy sales - other 3,217 — — 3,217 6,480 — — 6,480 Utility fees 751 — — 751 1,548 — — 1,548 Bank fees — 11,557 — 11,557 — 23,054 — 23,054 Total revenues from contracts with customers 610,030 11,557 — 621,587 1,173,998 23,054 — 1,197,052 Revenues from other sources Regulatory revenue (4,643 ) — — (4,643 ) 107 — — 107 Bank interest and dividend income — 63,261 — 63,261 — 125,263 — 125,263 Other bank noninterest income — 2,286 — 2,286 — 4,206 — 4,206 Other 2,739 — 47 2,786 4,448 — 75 4,523 Total revenues from other sources (1,904 ) 65,547 47 63,690 4,555 129,469 75 134,099 Total revenues $ 608,126 $ 77,104 $ 47 $ 685,277 $ 1,178,553 $ 152,523 $ 75 $ 1,331,151 Timing of revenue recognition Services/goods transferred at a point in time $ 751 $ 11,557 $ — $ 12,308 $ 1,548 $ 23,054 $ — $ 24,602 Services/goods transferred over time 609,279 — — 609,279 1,172,450 — — 1,172,450 Total revenues from contracts with customers $ 610,030 $ 11,557 $ — $ 621,587 $ 1,173,998 $ 23,054 $ — $ 1,197,052 There are no material contract assets or liabilities associated with revenues from contracts with customers existing at the beginning or at the end of the six months ended June 30, 2018. Accounts receivable and unbilled revenues related to contracts with customers represent an unconditional right to consideration since all performance obligations have been satisfied. These amounts are disclosed as accounts receivable and unbilled revenues, net on HEI’s condensed consolidated balance sheets and customer accounts receivable, net and accrued unbilled revenues, net on Hawaiian Electric’s condensed consolidated balance sheets. As of June 30, 2018, the Company had no material remaining performance obligations due to the nature of the Company’s contracts with its customers. For the Utilities, performance obligations are fulfilled as electricity is delivered to customers. For the bank, fees are recognized when a transaction is completed.

Retirement benefits

Retirement benefits	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Retirement benefits	Retirement benefits Defined benefit pension and other postretirement benefit plans information. For the first six months of 2018 , the Company contributed $32 million ( $32 million by the Utilities) to its pension and other postretirement benefit plans, compared to $33 million ( $33 million by the Utilities) in the first six months of 2017 . The Company’s current estimate of contributions to its pension and other postretirement benefit plans in 2018 is $42 million ( $41 million by the Utilities, $ 1 million by HEI and nil by ASB), compared to $67 million ($ 66 million by the Utilities, $1 million by HEI and nil by ASB) in 2017 . In addition, the Company expects to pay directly $2 million ( $1 million by the Utilities) of benefits in 2018 , compared to $1 million ( $0.5 million by the Utilities) paid in 2017 . The components of NPPC and NPBC for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended June 30 Six months ended June 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2018 2017 2018 2017 2018 2017 2018 2017 HEI consolidated Service cost $ 17,428 $ 15,870 $ 692 $ 847 $ 34,541 $ 32,364 $ 1,361 $ 1,687 Interest cost 19,459 20,361 2,030 2,315 38,693 40,577 3,961 4,726 Expected return on plan assets (27,224 ) (25,646 ) (3,267 ) (3,104 ) (54,478 ) (51,367 ) (6,459 ) (6,170 ) Amortization of net prior service gain (11 ) (13 ) (451 ) (448 ) (21 ) (27 ) (903 ) (897 ) Amortization of net actuarial loss 7,634 6,707 48 199 15,029 13,220 46 565 Net periodic pension/benefit cost (return) 17,286 17,279 (948 ) (191 ) 33,764 34,767 (1,994 ) (89 ) Impact of PUC D&Os 7,179 (4,867 ) 1,024 527 9,836 (10,023 ) 2,095 673 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 24,465 $ 12,412 $ 76 $ 336 $ 43,600 $ 24,744 $ 101 $ 584 Hawaiian Electric consolidated Service cost $ 17,007 $ 15,436 $ 688 $ 841 $ 33,680 $ 31,530 $ 1,352 $ 1,676 Interest cost 17,937 18,726 1,955 2,231 35,647 37,315 3,814 4,558 Expected return on plan assets (25,577 ) (23,935 ) (3,216 ) (3,056 ) (51,184 ) (47,946 ) (6,356 ) (6,073 ) Amortization of net prior service loss (gain) 2 2 (451 ) (451 ) 4 4 (902 ) (902 ) Amortization of net actuarial loss 6,941 6,190 49 192 13,651 12,196 49 551 Net periodic pension/benefit cost (return) 16,310 16,419 (975 ) (243 ) 31,798 33,099 (2,043 ) (190 ) Impact of PUC D&Os 7,179 (4,867 ) 1,024 527 9,836 (10,023 ) 2,095 673 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 23,489 $ 11,552 $ 49 $ 284 $ 41,634 $ 23,076 $ 52 $ 483 HEI consolidated recorded retirement benefits expense of $27 million ($ 25 million by the Utilities) and $17 million ( $15 million by the Utilities) in the first six months of 2018 and 2017 , respectively, and charged the remaining net periodic benefit cost primarily to electric utility plant. The Utilities have implemented pension and OPEB tracking mechanisms under which all of their retirement benefit expenses (except for executive life and nonqualified pension plan expenses) determined in accordance with GAAP are recovered over time. Under the tracking mechanisms, these retirement benefit costs that are over/under amounts allowed in rates are charged/credited to a regulatory asset/liability. The regulatory asset/liability for each utility will be amortized over 5 years beginning with the issuance of the PUC’s D&O in the respective utility’s next rate case. Defined contribution plans information. For the first six months of 2018 and 2017 , the Company’s expenses for its defined contribution pension plans under the Hawaiian Electric Industries Retirement Savings Plan (HEIRSP) and the ASB 401(k) Plan were $3.2 million and $3.3 million , respectively, and cash contributions were $4.8 million and $4.0 million , respectively. For the first six months of 2018 and 2017 , the Utilities’ expenses for its defined contribution pension plan under the HEIRSP were $ 1.1 million and $1.0 million , respectively, and cash contributions were $ 1.1 million and $1.0 million , respectively.

Share-based compensation

Share-based compensation	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation	Share-based compensation Under the 2010 Equity and Incentive Plan, as amended, HEI can issue shares of common stock as incentive compensation to selected employees in the form of stock options, stock appreciation rights, restricted shares, restricted stock units, performance shares and other share-based and cash-based awards. The 2010 Equity and Incentive Plan (original EIP) was amended and restated effective March 1, 2014 (EIP) and an additional 1.5 million shares were added to the shares available for issuance under these programs. As of June 30, 2018 , approximately 3.2 million shares remained available for future issuance under the terms of the EIP, assuming recycling of shares withheld to satisfy minimum statutory tax liabilities relating to EIP awards, including an estimated 0.6 million shares that could be issued upon the vesting of outstanding restricted stock units and the achievement of performance goals for awards outstanding under long-term incentive plans (assuming that such performance goals are achieved at maximum levels). Under the 2011 Nonemployee Director Stock Plan (2011 Director Plan), HEI can issue shares of common stock as compensation to nonemployee directors of HEI, Hawaiian Electric and ASB. As of June 30, 2018 , there were 46,607 shares remaining available for future issuance under the 2011 Director Plan. Share-based compensation expense and the related income tax benefit were as follows: Three months ended June 30 Six months ended June 30 (in millions) 2018 2017 2018 2017 HEI consolidated Share-based compensation expense 1 $ 2.8 $ 2.2 $ 4.4 $ 3.3 Income tax benefit 0.5 0.8 0.7 1.2 Hawaiian Electric consolidated Share-based compensation expense 1 0.9 0.7 1.5 1.1 Income tax benefit 0.2 0.3 0.3 0.4 1 For the three and six months ended June 30, 2018 and 2017, the Company has not capitalized any share-based compensation. Stock awards. HEI granted HEI common stock to nonemployee directors of HEI, Hawaiian Electric and ASB under the 2011 Director Plan as follows: Three months ended June 30 Six months ended June 30 (dollars in millions) 2018 2017 2018 2017 Shares granted 37,747 35,000 38,821 35,770 Fair value $ 1.3 $ 1.1 $ 1.3 $ 1.2 Income tax benefit 0.3 0.4 0.3 0.5 The number of shares issued to each nonemployee director of HEI, Hawaiian Electric and ASB is determined based on the closing price of HEI Common Stock on the grant date. Restricted stock units. Information about HEI’s grants of restricted stock units was as follows: Three months ended June 30 Six months ended June 30 2018 2017 2018 2017 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 208,088 $ 32.97 236,036 $ 31.42 197,047 $ 31.53 220,683 $ 29.57 Granted 3,159 33.78 896 33.06 92,064 34.09 97,873 33.47 Vested (448 ) 31.94 (7,370 ) 29.17 (75,683 ) 30.56 (88,994 ) 28.88 Forfeited (9,943 ) 32.05 (23,079 ) 31.50 (12,572 ) 32.27 (23,079 ) 31.50 Outstanding, end of period 200,856 $ 33.03 206,483 $ 31.50 200,856 $ 33.03 206,483 $ 31.50 Total weighted-average grant-date fair value of shares granted (in millions) $ 0.1 $ — $ 3.1 $ 3.3 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. For the first six months of 2018 and 2017 , total restricted stock units and related dividends that vested had a fair value of $2.7 million and $3.3 million , respectively, and the related tax benefits were $0.4 million and $1.2 million , respectively. As of June 30, 2018 , there was $5.4 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 2.8 years . Long-term incentive plan payable in stock. The 2017-2019 and 2018-2020 long-term incentive plans (LTIP) provide for performance awards under the EIP of shares of HEI common stock based on the satisfaction of performance goals, including a market condition goal. The number of shares of HEI common stock that may be awarded is fixed on the date the grants are made, subject to the achievement of specified performance levels and calculated dividend equivalents. The potential payout varies from 0% to 200% of the number of target shares depending on the achievement of the goals. The market condition goal is based on HEI’s total shareholder return (TSR) compared to the Edison Electric Institute Index over the three -year period. The other performance condition goals relate to EPS growth, return on average common equity (ROACE) and ASB’s efficiency ratio. The 2016-2018 LTIP provides for performance awards payable in cash, and thus is not included in the tables below. LTIP linked to TSR . Information about HEI’s LTIP grants linked to TSR was as follows: Three months ended June 30 Six months ended June 30 2018 2017 2018 2017 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 66,791 $ 38.84 36,971 $ 39.51 32,904 $ 39.51 83,106 $ 22.95 Granted 1,315 38.20 233 39.51 36,941 38.21 37,204 39.51 Vested (issued or unissued and cancelled) — — — — — — (83,106 ) 22.95 Forfeited (1,929 ) 38.85 (3,434 ) 39.51 (3,668 ) 38.84 (3,434 ) 39.51 Outstanding, end of period 66,177 $ 38.82 33,770 $ 39.51 66,177 $ 38.82 33,770 $ 39.51 Total weighted-average grant-date fair value of shares granted (in millions) $ 0.1 $ — $ 1.4 $ 1.5 (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 TSR and the resulting fair value of LTIP awards granted: 2018 2017 Risk-free interest rate 2.29 % 1.46 % Expected life in years 3 3 Expected volatility 17.0 % 20.1 % Range of expected volatility for Peer Group 15.1% to 26.2% 15.4% to 26.0% Grant date fair value (per share) $38.20 $39.51 For the six months ended June 30, 2017 , total vested LTIP awards linked to TSR and related dividends had a fair value of $1.9 million and the related tax benefits were $0.7 million . As of June 30, 2018 , there was $1.7 million of total unrecognized compensation cost related to the nonvested performance awards payable in shares linked to TSR. The cost is expected to be recognized over a weighted-average period of 2.0 years . LTIP awards linked to other performance conditions . Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows: Three months ended June 30 Six months ended June 30 2018 2017 2018 2017 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 267,167 $ 33.80 147,888 $ 33.48 131,616 $ 33.47 109,816 $ 25.18 Granted 5,257 33.52 930 32.58 147,766 34.08 148,818 33.47 Vested — — — — — — (109,816 ) 25.18 Forfeited (7,717 ) 33.80 (13,740 ) 33.48 (14,675 ) 33.80 (13,740 ) 33.48 Outstanding, end of period 264,707 $ 33.79 135,078 $ 33.47 264,707 $ 33.79 135,078 $ 33.47 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ 0.2 $ — $ 5.0 $ 5.0 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. For the six months ended June 30, 2017 , total vested LTIP awards linked to other performance conditions and related dividends had a fair value of $4.2 million and the related tax benefits were $1.6 million . As of June 30, 2018 , there was $6.0 million of total unrecognized compensation cost related to the nonvested shares linked to performance conditions other than TSR. The cost is expected to be recognized over a weighted-average period of 2.0 years .

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income taxes	Income taxes Staff Accounting Bulletin No. 118 (SAB No. 118). On December 22, 2017, the SEC staff issued SAB No. 118 to address the application of GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Act. In 2017, the Company calculated its best estimate, primarily related to the bonus depreciation rule changes, in accordance with its understanding of the law and available guidance. As of June 30, 2018, there were no adjustments made to provisional tax impacts previously recognized in the Company’s and Utilities financial statements. The provisional impacts will be updated as additional information is received as a result of changes in the Company and Utilities interpretations and assumptions, the issuance of Internal Revenue Service and Joint Committee on Taxation guidance, and actions the Company and Utilities may take as a result of the Tax Act. The provisional tax impacts will be finalized by the end of 2018.

Cash flows

Cash flows	6 Months Ended
	Jun. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Cash flows	Cash flows Six months ended June 30 2018 2017 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates $ 45 $ 46 Income taxes paid (including refundable credits) 36 21 Hawaiian Electric consolidated Interest paid to non-affiliates 32 36 Income taxes paid (including refundable credits) 35 8 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 5 2 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 42 38 Loans transferred from held for investment to held for sale (investing) 1 9 Common stock issued (gross) for director and executive/management compensation (financing) 1 4 11 Obligations to fund low income housing investments (investing) 6 — Transfer of retail repurchase agreements to deposit liabilities (financing) 102 — Unsettled trades to purchase investment securities (investing) 10 — Hawaiian Electric consolidated Electric utility property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 5 2 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 28 36 1 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Fair value measurements

Fair value measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements Fair value measurement and disclosure valuation methodology. The following are descriptions of the valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial instruments not carried at fair value: Short-term borrowings—other than bank . The carrying amount of short-term borrowings approximated fair value because of the short maturity of these instruments. Investment securities . The fair value of ASB’s investment securities is determined quarterly through pricing obtained from independent third-party pricing services or from brokers not affiliated with the trade. Non-binding broker quotes are infrequent and generally occur for new securities that are settled close to the month-end pricing date. The third-party pricing vendors ASB uses for pricing its securities are reputable firms that provide pricing services on a global basis and have processes in place to ensure quality and control. The third-party pricing services use a variety of methods to determine the fair value of securities that fall under Level 2 of ASB’s fair value measurement hierarchy. Among the considerations are quoted prices for similar securities in an active market, yield spreads for similar trades, adjustments for liquidity, size, collateral characteristics, historic and generic prepayment speeds, and other observable market factors. To enhance the robustness of the pricing process, ASB will on a quarterly basis compare its standard third-party vendor’s price with that of another third-party vendor. If the prices are within an acceptable tolerance range, the price of the standard vendor will be accepted. If the variance is beyond the tolerance range, an evaluation will be conducted by ASB and a challenge to the price may be made. Fair value in such cases will be based on the value that best reflects the data and observable characteristics of the security. In all cases, the fair value used will have been independently determined by a third-party pricing vendor or non-affiliated broker. The fair value of the mortgage revenue bond is estimated using a discounted cash flow model to calculate the present value of future principal and interest payments and, therefore is classified within Level 3 of the valuation hierarchy. Loans held for sale . Residential and commercial loans are carried at the lower of cost or market and are valued using market observable pricing inputs, which are derived from third party loan sales and, therefore, are classified within Level 2 of the valuation hierarchy. Loans held for investment . Fair value of loans held for investment is derived using a discounted cash flow approach which includes an evaluation of the underlying loan characteristics. The valuation model uses loan characteristics which includes product type, maturity dates and the underlying interest rate of the portfolio. This information is input into the valuation models along with various forecast valuation assumptions including prepayment forecasts, to determine the discount rate. These assumptions are derived from internal and third party sources. Since the valuation is derived from model-based techniques, ASB includes loans held for investment within Level 3 of the valuation hierarchy. Impaired loans . At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Fair value is determined primarily by using an income, cost or market approach and is normally provided through appraisals. Impaired loans carried at fair value generally receive specific allocations within the allowance for 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. Real estate acquired in settlement of loans . Foreclosed assets are carried at fair value (less estimated costs to sell) and are generally based upon appraisals or independent market prices that are periodically updated subsequent to classification as real estate owned. Such adjustments typically result in a Level 3 classification of the inputs for determining fair value. ASB estimates the fair value of collateral-dependent loans and real estate owned using the sales comparison approach. Mortgage servicing rights . Mortgage servicing rights (MSRs) are capitalized at fair value based on market data at the time of sale and accounted for in subsequent periods at the lower of amortized cost or fair value. Mortgage servicing rights are evaluated for impairment at each reporting date. ASB's MSRs are stratified based on predominant risk characteristics of the underlying loans including loan type and note rate. For each stratum, fair value is calculated by discounting expected net income streams using discount rates that reflect industry pricing for similar assets. Expected net income streams are estimated based on industry assumptions regarding prepayment expectations and income and expenses associated with servicing residential mortgage loans for others. Impairment is recognized through a valuation allowance for each stratum when the carrying amount exceeds fair value, with any associated provision recorded as a component of loan servicing fees included in "Revenues - bank" in the consolidated statements of income. A direct write-down is recorded when the recoverability of the valuation allowance is deemed to be unrecoverable. ASB compares the fair value of MSRs to an estimated value calculated by an independent third-party. The third-party relies on both published and unpublished sources of market related assumptions and 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. Deposit liabilities . Includes only fixed-maturity certificates of deposit beginning in 2018. 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 advances and repurchase agreements of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including broker market transactions and third party pricing services. Long-term debt—other than bank . Fair value of long-term debt of HEI and the Utilities was obtained from third-party financial services providers based on the current rates offered for debt of the same or similar remaining maturities and from discounting the future cash flows using the current rates offered for debt of the same or similar risks, terms, and remaining maturities. 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. Window forward contracts . The estimated fair value of the Utilities’ window forward contracts was obtained from a third-party financial services provider based on the effective exchange rate offered for the foreign currency denominated transaction. Window forward contracts are classified as Level 2 measurements. The following table presents the carrying or notional amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments. For stock in Federal Home Loan Bank, the carrying amount is a reasonable estimate of fair value because it can only be redeemed at par. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings and money market deposits, the carrying amount is a reasonable estimate of fair value as these liabilities have no stated maturity. Estimated fair value Carrying or notional amount Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) (Level 1) (Level 2) (Level 3) Total June 30, 2018 Financial assets HEI consolidated Available-for-sale investment securities $ 1,409,528 $ — $ 1,394,101 $ 15,427 $ 1,409,528 Held-to-maturity investment securities 62,630 — 61,444 — 61,444 Stock in Federal Home Loan Bank 10,158 — 10,158 — 10,158 Loans, net 4,727,189 — 5,250 4,774,079 4,779,329 Mortgage servicing rights 8,509 — — 13,423 13,423 Derivative assets 24,537 — 250 — 250 Financial liabilities HEI consolidated Deposit liabilities 1 757,265 — 745,295 — 745,295 Short-term borrowings—other than bank 202,857 — 202,857 — 202,857 Other bank borrowings 126,930 — 126,904 — 126,904 Long-term debt, net—other than bank 1,783,009 — 1,816,310 — 1,816,310 Derivative liabilities 25,445 56 114 — 170 Hawaiian Electric consolidated Short-term borrowings 91,880 — 91,880 — 91,880 Long-term debt, net 1,468,457 — 1,511,103 — 1,511,103 Derivative liabilities-window forward contracts 3,117 — 106 — 106 December 31, 2017 Financial assets HEI consolidated Available-for-sale investment securities 1,401,198 — 1,385,771 15,427 1,401,198 Held-to-maturity investment securities 44,515 — 44,412 — 44,412 Stock in Federal Home Loan Bank 9,706 — 9,706 — 9,706 Loans, net 4,628,381 — 11,254 4,770,497 4,781,751 Mortgage servicing rights 8,639 — — 12,052 12,052 Derivative assets 17,812 — 393 — 393 Hawaiian Electric consolidated Derivative assets-window forward contracts 3,240 — 256 — 256 Financial liabilities HEI consolidated Deposit liabilities 1 5,890,597 — 5,884,071 — 5,884,071 Short-term borrowings—other than bank 117,945 — 117,945 — 117,945 Other bank borrowings 190,859 — 190,829 — 190,829 Long-term debt, net—other than bank 1,683,797 — 1,813,295 — 1,813,295 Derivative liabilities 13,562 20 10 — 30 Hawaiian Electric consolidated Short-term borrowings 4,999 — 4,999 — 4,999 Long-term debt, net 1,368,479 — 1,497,079 — 1,497,079 1 Deposit liabilities as of December 31, 2017 include noninterest-bearing demand, interest-bearing demand, and savings and money market deposits, for which the carrying amount represents a reasonable estimate of fair value, as such liabilities have no stated maturity. The fair value of such financial liabilities are not included as of June 30, 2018 as a result of the Company’s adoption of ASU No. 2016-01. Fair value measurements on a recurring basis. Assets and liabilities measured at fair value on a recurring basis were as follows: June 30, 2018 December 31, 2017 Fair value measurements using Fair value measurements using (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Available-for-sale investment securities (bank segment) Mortgage-related securities-FNMA, FHLMC and GNMA $ — $ 1,177,832 $ — $ — $ 1,201,473 $ — U.S. Treasury and federal agency obligations — 175,933 — — 184,298 — Corporate bonds — 40,336 — — — — Mortgage revenue bond — — 15,427 — — 15,427 $ — $ 1,394,101 $ 15,427 $ — $ 1,385,771 $ 15,427 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 248 $ — $ — $ 133 $ — Forward commitments (bank segment) 1 — 2 — — 4 — Window forward contracts (electric utility segment) 2 — — — — 256 — $ — $ 250 $ — $ — $ 393 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ — $ — $ — $ 2 $ — Forward commitments (bank segment) 1 56 8 — 20 8 — Window forward contracts (electric utility segment) 2 — 106 — — — — $ 56 $ 114 $ — $ 20 $ 10 $ — 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. 2 Derivatives are included in regulatory assets and/or liabilities in the balance sheets. There were no transfers of financial assets and liabilities between Level 1 and Level 2 of the fair value hierarchy during the six months ended June 30, 2018 . The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: Three months ended June 30 Six months ended June 30 Mortgage revenue bond 2018 2017 2018 2017 (in thousands) Beginning balance $ 15,427 $ 15,427 $ 15,427 $ 15,427 Principal payments received — — — — Purchases — — — — Unrealized gain (loss) included in other comprehensive income — — — — Ending balance $ 15,427 $ 15,427 $ 15,427 $ 15,427 ASB holds one mortgage revenue bond issued by the Department of Budget and Finance of the State of Hawaii. The Company estimates the fair value by using a discounted cash flow model to calculate the present value of estimated future principal and interest payments. The unobservable input used in the fair value measurement is the weighted average discount rate. As of June 30, 2018 , the weighted average discount rate was 3.40% which was derived by incorporating a credit spread over the one month LIBOR rate. Significant increases (decreases) in the weighted average discount rate could result in a significantly lower (higher) fair value measurement. Fair value measurements on a nonrecurring basis. Certain assets and liabilities are measured at fair value on a nonrecurring basis and therefore are not included in the tables above. These measurements primarily result from assets carried at the lower of cost or fair value or from impairment of individual assets. The carrying value of assets measured at fair value on a nonrecurring basis were as follows: Fair value measurements (in thousands) Balance Level 1 Level 2 Level 3 June 30, 2018 Loans $ 232 $ — $ — $ 232 December 31, 2017 Loans 2,621 — — 2,621 For six months ended June 30, 2018 and 2017 , there were no adjustments to fair value for ASB’s loans held for sale. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis: Significant unobservable input value (1) ($ in thousands) Fair value Valuation technique Significant unobservable input Range Weighted Average June 30, 2018 Residential loans $ 232 Fair value of collateral Appraised value less 7% selling cost 62-69% 68% Total loans $ 232 December 31, 2017 Residential loans $ 613 Fair value of collateral Appraised value less 7% selling cost 71-92% 84% Commercial loans 2,008 Fair value of collateral Appraised value 71-76% 75% Total loans $ 2,621 (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.

Basis of presentation (Policies

Basis of presentation (Policies)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent accounting pronouncements	Revenues from contracts with customers . In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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. ASU No. 2014-09 also requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company and Hawaiian Electric adopted ASU No. 2014-09 (and subsequently issued revenue-related ASUs, as applicable) in the first quarter of 2018. There was no cumulative effect adjustment and no impact on the timing or pattern of revenue recognition, but ASU No. 2014-09 required changes with respect to the Company’s and Hawaiian Electric’s revenue disclosures. See Note 7 . Financial instruments . In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities,” which, among other things: • Requires equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. • Requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. • Requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables). • Eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost. The Company adopted ASU No. 2016-01 in the first quarter of 2018 and the impact of adoption was not material to the Company’s and Hawaiian Electric’s consolidated financial statements. Cash flows . In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” which provides guidance on eight specific cash flow issues - debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies), distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. The Company adopted ASU No. 2016-15 in the first quarter of 2018 using a retrospective transition method and there was no impact from the adoption to the Company’s and Hawaiian Electric’s consolidated statements of cash flows. Restricted cash . In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash,” which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The Company adopted ASU No. 2016-18 in the first quarter of 2018 using a retrospective transition method and the impact of adoption was not material to the Company’s and Hawaiian Electric’s consolidated statements of cash flows. Definition of a Business . In January 2017, the FASB issued ASU No. 2017-01, “Business Combinations—Clarifying the Definition of a Business.” This update clarifies the definition of a business and adds guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The Company adopted ASU No. 2017-01 in the first quarter of 2018 and the impact of adoption was not material to the Company’s and Hawaiian Electric’s consolidated financial statements. Net periodic pension cost and net periodic postretirement benefit cost . In March 2017, the FASB issued ASU No. 2017-07, “Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” which requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. It also requires the other components of net periodic pension cost (NPPC) and net periodic postretirement benefit cost (NPBC) as defined in paragraphs 715-30-35-4 and 715-60-35-9 to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. Additionally, only the service cost component is eligible for capitalization under GAAP, when applicable. The Company adopted ASU No. 2017-07 in the first quarter of 2018: (1) retrospectively for the presentation in the income statement of the service cost component and the other components of NPPC and NPBC, and (2) prospectively for the capitalization in assets of the service cost component of NPPC and NPBC for Hawaiian Electric and its subsidiaries. HEI and ASB do not capitalize pension and OPEB costs. In settlement agreements in the 2018 Maui Electric, 2017 Hawaiian Electric and 2016 Hawaii Electric Light rate cases, Maui Electric, Hawaiian Electric and Hawaii Electric Light, respectively, and the Consumer Advocate agreed to the deferral of the non-service cost components of NPPC and NPBC, which would have been capitalized prior to ASU No. 2017-07, as part of the pension tracking mechanism. The PUC approved this treatment in the final decision and order (D&O) in the Hawaiian Electric and Hawaii Electric Light rate cases. The treatment under the settlement agreements was followed beginning in 2018 until each utility’s next rate case. In each utility’s next rate case, rates established would include recovery of the deferred non-service cost components and seek to adopt the capitalization policy which reflects the requirements of ASU No. 2017-07 (i.e., only the service cost components of NPPC and NPBC will be capitalized). Thus, the adoption of ASU 2017-07 in the first quarter of 2018 does not have a net income impact. The following table summarizes the impact to the prior period financial statements of the adoption of ASU No. 2017-07: Three months ended June 30, 2017 Six months ended June 30, 2017 (in thousands) As previously filed Adjustment from adoption of ASU No. 2017-07 As currently reported As previously filed Adjustment from adoption of ASU No. 2017-07 As currently reported HEI Condensed Consolidated Income Statement Expenses Electric utility $ 501,828 $ (1,435 ) $ 500,393 $ 971,501 $ (2,858 ) $ 968,643 Bank 50,533 (201 ) 50,332 99,229 (396 ) 98,833 Other 4,024 (270 ) 3,754 9,355 (528 ) 8,827 Total expenses 556,385 (1,906 ) 554,479 1,080,085 (3,782 ) 1,076,303 Operating income Electric utility 55,047 1,435 56,482 103,985 2,858 106,843 Bank 24,796 201 24,997 48,956 396 49,352 Other (3,947 ) 270 (3,677 ) (9,183 ) 528 (8,655 ) Total operating income 75,896 1,906 77,802 143,758 3,782 147,540 Retirement defined benefits expense--other than service costs — (1,906 ) (1,906 ) — (3,782 ) (3,782 ) Hawaiian Electric Condensed Consolidated Income Statement Other operation and maintenance 106,374 (1,435 ) 104,939 206,614 (2,858 ) 203,756 Total expense 501,828 (1,435 ) 500,393 971,501 (2,858 ) 968,643 Operating income 55,047 1,435 56,482 103,985 2,858 106,843 Retirement defined benefits expense--other than service costs — (1,435 ) (1,435 ) — (2,858 ) (2,858 ) Hawaiian Electric Condensed Consolidating Income Statement (in Note 3) Hawaiian Electric (parent only) Other operation and maintenance 70,961 (1,302 ) 69,659 138,239 (2,587 ) 135,652 Total expense 357,575 (1,302 ) 356,273 690,763 (2,587 ) 688,176 Operating income 36,839 1,302 38,141 66,494 2,587 69,081 Retirement defined benefits expense--other than service costs — (1,302 ) (1,302 ) — (2,587 ) (2,587 ) Hawaii Electric Light Other operation and maintenance 17,558 85 17,643 33,074 168 33,242 Total expense 72,903 85 72,988 141,400 168 141,568 Operating income 8,807 (85 ) 8,722 19,292 (168 ) 19,124 Retirement defined benefits expense--other than service costs — 85 85 — 168 168 Maui Electric Other operation and maintenance 17,855 (218 ) 17,637 35,301 (439 ) 34,862 Total expense 71,350 (218 ) 71,132 139,338 (439 ) 138,899 Operating income 9,415 218 9,633 18,220 439 18,659 Retirement defined benefits expense--other than service costs — (218 ) (218 ) — (439 ) (439 ) ASB Statements of Income Data (in Note 4) Compensation and employee benefits 24,742 (201 ) 24,541 47,979 (396 ) 47,583 Other expense 4,705 201 4,906 9,016 396 9,412 Derivatives and Hedging. In August 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,” which is intended to improve and simplify accounting rules around hedge accounting. The amendments in ASU No. 2017-12 improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results in the financial statements. The amendments also expand and refine hedge accounting for both nonfinancial and financial risk components and align the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. For public business entities, the new guidance is effective for annual periods beginning after December 15, 2018, including interim periods within those annual periods, but early adoption is permitted. The Company early adopted ASU No. 2017-12 in the second quarter of 2018, with an effective date of April 1, 2018, and the adoption did not have a material impact on the Company’s consolidated financial statements. Leases . In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires that lessees recognize a liability to make lease payments (the lease liability) and a right-of-use asset, representing its right to use the underlying asset for the lease term, for all leases (except short-term leases) at the commencement date. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election and recognize lease expense for such leases generally on a straight-line basis over the lease term. For finance leases, a lessee is required to recognize interest on the lease liability separately from amortization of the right-of-use asset in the statement of income. For operating leases, a lessee is required to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis. The Company plans to adopt ASU No. 2016-02 in the first quarter of 2019 and is currently analyzing the potential impact of adoption, including the impact of electing certain practical expedients available under the standard. The Company has reviewed its agreements and has compiled a preliminary inventory of its operating leases and other arrangements that meet the definition of a lease under the new standard. The Company is in the process of analyzing the measurement provisions of the new standard and their impact to its existing lease arrangements that fall within the scope of ASU No. 2016-02. Credit losses . In June 2016, the FASB issued ASU No. 2016-13, “ Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ,” which is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations . ASU No. 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date (based on historical experience, current conditions and reasonable and supportable forecasts) and enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASU No. 2016-13 amends the accounting for credit losses on available-for-sale (AFS) debt securities and purchased financial assets with credit deterioration. The other-than-temporary impairment model of accounting for credit losses on AFS debt securities will be replaced with an estimate of expected credit losses only when the fair value is below the amortized cost of the asset. The length of time the fair value of an AFS debt security has been below the amortized cost will no longer impact the determination of whether a credit loss exists. The AFS debt security model will also require the use of an allowance to record the estimated losses (and subsequent recoveries). The accounting for the initial recognition of the estimated expected credit losses for purchased financial assets with credit deterioration would be recognized through an allowance for credit losses with an offset to the cost basis of the related financial asset at acquisition (i.e., there is no impact to net income at initial recognition). The Company plans to adopt ASU No. 2016-13 in the first quarter of 2020. The guidance is to be applied on a modified retrospective basis with the cumulative effect of initially applying the amendments recognized in retained earnings at the date of initial application. The Company has assembled a project team that meets regularly to evaluate the provisions of this ASU, identify additional data requirements necessary and determine an approach for implementation. The team has assigned roles and responsibilities and developed key tasks to complete and a general timeline to be followed. The Company is evaluating the effect that this ASU will have on the consolidated financial statements and disclosures. Economic conditions and the composition of the Company’s loan portfolio at the time of adoption will influence the extent of the adopting accounting adjustment.

Basis of presentation (Tables)

Basis of presentation (Tables)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Impact of Prior Period Financial Statements of the Adoption of ASU 2017-07	The following table summarizes the impact to the prior period financial statements of the adoption of ASU No. 2017-07: Three months ended June 30, 2017 Six months ended June 30, 2017 (in thousands) As previously filed Adjustment from adoption of ASU No. 2017-07 As currently reported As previously filed Adjustment from adoption of ASU No. 2017-07 As currently reported HEI Condensed Consolidated Income Statement Expenses Electric utility $ 501,828 $ (1,435 ) $ 500,393 $ 971,501 $ (2,858 ) $ 968,643 Bank 50,533 (201 ) 50,332 99,229 (396 ) 98,833 Other 4,024 (270 ) 3,754 9,355 (528 ) 8,827 Total expenses 556,385 (1,906 ) 554,479 1,080,085 (3,782 ) 1,076,303 Operating income Electric utility 55,047 1,435 56,482 103,985 2,858 106,843 Bank 24,796 201 24,997 48,956 396 49,352 Other (3,947 ) 270 (3,677 ) (9,183 ) 528 (8,655 ) Total operating income 75,896 1,906 77,802 143,758 3,782 147,540 Retirement defined benefits expense--other than service costs — (1,906 ) (1,906 ) — (3,782 ) (3,782 ) Hawaiian Electric Condensed Consolidated Income Statement Other operation and maintenance 106,374 (1,435 ) 104,939 206,614 (2,858 ) 203,756 Total expense 501,828 (1,435 ) 500,393 971,501 (2,858 ) 968,643 Operating income 55,047 1,435 56,482 103,985 2,858 106,843 Retirement defined benefits expense--other than service costs — (1,435 ) (1,435 ) — (2,858 ) (2,858 ) Hawaiian Electric Condensed Consolidating Income Statement (in Note 3) Hawaiian Electric (parent only) Other operation and maintenance 70,961 (1,302 ) 69,659 138,239 (2,587 ) 135,652 Total expense 357,575 (1,302 ) 356,273 690,763 (2,587 ) 688,176 Operating income 36,839 1,302 38,141 66,494 2,587 69,081 Retirement defined benefits expense--other than service costs — (1,302 ) (1,302 ) — (2,587 ) (2,587 ) Hawaii Electric Light Other operation and maintenance 17,558 85 17,643 33,074 168 33,242 Total expense 72,903 85 72,988 141,400 168 141,568 Operating income 8,807 (85 ) 8,722 19,292 (168 ) 19,124 Retirement defined benefits expense--other than service costs — 85 85 — 168 168 Maui Electric Other operation and maintenance 17,855 (218 ) 17,637 35,301 (439 ) 34,862 Total expense 71,350 (218 ) 71,132 139,338 (439 ) 138,899 Operating income 9,415 218 9,633 18,220 439 18,659 Retirement defined benefits expense--other than service costs — (218 ) (218 ) — (439 ) (439 ) ASB Statements of Income Data (in Note 4) Compensation and employee benefits 24,742 (201 ) 24,541 47,979 (396 ) 47,583 Other expense 4,705 201 4,906 9,016 396 9,412

Segment financial information (

Segment financial information (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule of segment financial information	(in thousands) Electric utility Bank Other Total Three months ended June 30, 2018 Revenues from external customers $ 608,112 $ 77,104 $ 61 $ 685,277 Intersegment revenues (eliminations) 14 — (14 ) — Revenues $ 608,126 $ 77,104 $ 47 $ 685,277 Income (loss) before income taxes $ 40,344 $ 26,514 $ (7,276 ) $ 59,582 Income taxes (benefit) 8,676 5,953 (1,574 ) 13,055 Net income (loss) 31,668 20,561 (5,702 ) 46,527 Preferred stock dividends of subsidiaries 499 — (26 ) 473 Net income (loss) for common stock $ 31,169 $ 20,561 $ (5,676 ) $ 46,054 Six months ended June 30, 2018 Revenues from external customers $ 1,178,526 $ 152,523 $ 102 $ 1,331,151 Intersegment revenues (eliminations) 27 — (27 ) — Revenues $ 1,178,553 $ 152,523 $ 75 $ 1,331,151 Income (loss) before income taxes $ 77,493 $ 51,014 $ (15,649 ) $ 112,858 Income taxes (benefit) 17,851 11,493 (3,733 ) 25,611 Net income (loss) 59,642 39,521 (11,916 ) 87,247 Preferred stock dividends of subsidiaries 998 — (52 ) 946 Net income (loss) for common stock $ 58,644 $ 39,521 $ (11,864 ) $ 86,301 Total assets (at June 30, 2018) $ 5,803,714 $ 6,983,583 $ 96,807 $ 12,884,104 Three months ended June 30, 2017 Revenues from external customers $ 556,836 $ 75,329 $ 116 $ 632,281 Intersegment revenues (eliminations) 39 — (39 ) — Revenues $ 556,875 $ 75,329 $ 77 $ 632,281 Income (loss) before income taxes $ 41,003 $ 24,796 $ (6,173 ) $ 59,626 Income taxes (benefit) 14,860 8,063 (2,431 ) 20,492 Net income (loss) 26,143 16,733 (3,742 ) 39,134 Preferred stock dividends of subsidiaries 499 — (26 ) 473 Net income (loss) for common stock $ 25,644 $ 16,733 $ (3,716 ) $ 38,661 Six months ended June 30, 2017 Revenues from external customers $ 1,075,402 $ 148,185 $ 256 $ 1,223,843 Intersegment revenues (eliminations) 84 — (84 ) — Revenues $ 1,075,486 $ 148,185 $ 172 $ 1,223,843 Income (loss) before income taxes $ 75,725 $ 48,956 $ (13,473 ) $ 111,208 Income taxes (benefit) 27,618 16,410 (6,620 ) 37,408 Net income (loss) 48,107 32,546 (6,853 ) 73,800 Preferred stock dividends of subsidiaries 998 — (52 ) 946 Net income (loss) for common stock $ 47,109 $ 32,546 $ (6,801 ) $ 72,854 Total assets (at December 31, 2017) $ 5,630,613 $ 6,798,659 $ 104,888 $ 12,534,160

Electric utility segment (Table

Electric utility segment (Tables)	6 Months Ended
	Jun. 30, 2018
Regulatory Projects and Legal Obligations [Line Items]
Schedule of condensed consolidating statements of income (loss)	Statements of Income Data Three months ended June 30 Six months ended June 30 (in thousands) 2018 2017 2018 2017 Interest and dividend income Interest and fees on loans $ 54,633 $ 52,317 $ 107,433 $ 103,059 Interest and dividends on investment securities 8,628 6,763 17,830 13,743 Total interest and dividend income 63,261 59,080 125,263 116,802 Interest expense Interest on deposit liabilities 3,284 2,311 6,241 4,414 Interest on other borrowings 393 824 889 1,640 Total interest expense 3,677 3,135 7,130 6,054 Net interest income 59,584 55,945 118,133 110,748 Provision for loan losses 2,763 2,834 6,304 6,741 Net interest income after provision for loan losses 56,821 53,111 111,829 104,007 Noninterest income Fees from other financial services 4,744 5,810 9,398 11,420 Fee income on deposit liabilities 5,138 5,565 10,327 10,993 Fee income on other financial products 1,675 1,971 3,329 3,837 Bank-owned life insurance 1,133 1,925 2,004 2,908 Mortgage banking income 617 587 1,230 1,376 Other income, net 536 391 972 849 Total noninterest income 13,843 16,249 27,260 31,383 Noninterest expense Compensation and employee benefits 23,655 24,541 48,095 47,583 Occupancy 4,194 4,185 8,474 8,339 Data processing 3,540 3,207 7,004 6,487 Services 3,028 2,766 6,075 5,126 Equipment 1,874 1,771 3,602 3,519 Office supplies, printing and postage 1,491 1,527 2,998 3,062 Marketing 1,085 839 1,730 1,356 FDIC insurance 727 822 1,440 1,550 Other expense 4,556 4,906 8,657 9,412 Total noninterest expense 44,150 44,564 88,075 86,434 Income before income taxes 26,514 24,796 51,014 48,956 Income taxes 5,953 8,063 11,493 16,410 Net income $ 20,561 $ 16,733 $ 39,521 $ 32,546 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended June 30 Six months ended June 30 (in thousands) 2018 2017 2018 2017 Interest and dividend income 63,261 59,080 $ 125,263 $ 116,802 Noninterest income 13,843 16,249 27,260 31,383 *Revenues-Bank 77,104 75,329 152,523 148,185 Total interest expense 3,677 3,135 7,130 6,054 Provision for loan losses 2,763 2,834 6,304 6,741 Noninterest expense 44,150 44,564 88,075 86,434 Less: Retirement defined benefits expense—other than service costs (403 ) (201 ) (790 ) (396 ) *Expenses-Bank 50,187 50,332 100,719 98,833 *Operating income-Bank 26,917 24,997 51,804 49,352 Add back: Retirement defined benefits expense—other than service costs 403 201 790 396 Income before income taxes $ 26,514 $ 24,796 $ 51,014 $ 48,956
Schedule of condensed consolidating balance sheet	Balance Sheets Data (in thousands) June 30, 2018 December 31, 2017 Assets Cash and due from banks $ 120,189 $ 140,934 Interest-bearing deposits 109,230 93,165 Investment securities Available-for-sale, at fair value 1,409,528 1,401,198 Held-to-maturity, at amortized cost (fair value of $61,444 and $44,412, respectively) 62,630 44,515 Stock in Federal Home Loan Bank, at cost 10,158 9,706 Loans held for investment 4,774,744 4,670,768 Allowance for loan losses (52,803 ) (53,637 ) Net loans 4,721,941 4,617,131 Loans held for sale, at lower of cost or fair value 5,248 11,250 Other 462,469 398,570 Goodwill 82,190 82,190 Total assets $ 6,983,583 $ 6,798,659 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,812,348 $ 1,760,233 Deposit liabilities—interest-bearing 4,303,761 4,130,364 Other borrowings 126,930 190,859 Other 131,063 110,356 Total liabilities 6,374,102 6,191,812 Commitments and contingencies Common stock 1 1 Additional paid in capital 346,188 345,018 Retained earnings 310,298 292,957 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (32,596 ) $ (14,951 ) Retirement benefit plans (14,410 ) (47,006 ) (16,178 ) (31,129 ) Total shareholder’s equity 609,481 606,847 Total liabilities and shareholder’s equity $ 6,983,583 $ 6,798,659 Other assets Bank-owned life insurance $ 150,797 $ 148,775 Premises and equipment, net 186,620 136,270 Prepaid expenses 4,993 3,961 Accrued interest receivable 19,597 18,724 Mortgage-servicing rights 8,509 8,639 Low-income housing equity investments 63,033 59,016 Real estate acquired in settlement of loans, net — 133 Other 28,920 23,052 $ 462,469 $ 398,570 Other liabilities Accrued expenses $ 63,734 $ 39,312 Federal and state income taxes payable 1,200 3,736 Cashier’s checks 28,236 27,000 Advance payments by borrowers 10,415 10,245 Other 27,478 30,063 $ 131,063 $ 110,356
Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory Projects and Legal Obligations [Line Items]
Schedule of purchases from all IPPs	Purchases from all IPPs were as follows: Three months ended June 30 Six months ended June 30 (in millions) 2018 2017 2018 2017 Kalaeloa $ 52 $ 48 $ 92 $ 88 AES Hawaii 32 35 69 64 HPOWER 17 16 32 33 Puna Geothermal Venture 4 10 15 18 Hamakua Energy 15 10 22 17 Other IPPs 1 41 34 71 60 Total IPPs $ 161 $ 153 $ 301 $ 280 1 Includes wind power, solar power, feed-in tariff projects and other PPAs.
Schedule of net annual incremental amounts proposed to be collected (refunded)	The net annual incremental amounts to be collected (refunded) from June 1, 2018 through May 31, 2019 are as follows: (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric 2018 Annual incremental RAM adjusted revenues $ 13.8 $ 3.4 $ 2.0 Annual change in accrued RBA balance as of December 31, 2017 (and associated revenue taxes) $ 6.6 $ 0.7 $ 3.2 2017 Tax Act Adjustment $ — $ — $ (2.8 ) Net annual incremental amount to be collected under the tariffs $ 20.4 $ 4.1 $ 2.4 * Maui Electric incorporated a $2.8 million adjustment into its 2018 annual decoupling filing to incorporate the impact of the lower corporate income tax rate and the exclusion of the domestic production activities deduction, as a result of the 2017 Tax Cuts and Jobs Act (the Tax Act). Tax adjustments for Hawaiian Electric and Hawaii Electric Light are described in the discussion below of their respective on-going rate cases.
Schedule of condensed consolidating statements of income (loss)	Condensed Consolidating Statement of Income Six months ended June 30, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 757,257 160,692 157,558 — (21 ) $ 1,075,486 Expenses Fuel oil 197,815 31,732 55,982 — — 285,529 Purchased power 216,605 42,071 21,515 — — 280,191 Other operation and maintenance 135,652 33,242 34,862 — — 203,756 Depreciation 65,445 19,371 11,556 — — 96,372 Taxes, other than income taxes 72,659 15,152 14,984 — — 102,795 Total expenses 688,176 141,568 138,899 — — 968,643 Operating income 69,081 19,124 18,659 — (21 ) 106,843 Allowance for equity funds used during construction 4,715 249 462 — — 5,426 Equity in earnings of subsidiaries 16,539 — — — (16,539 ) — Retirement defined benefits expense—other than service costs (2,587 ) 168 (439 ) — — (2,858 ) Interest expense and other charges, net (24,619 ) (6,000 ) (5,120 ) — 21 (35,718 ) Allowance for borrowed funds used during construction 1,737 100 195 — — 2,032 Income before income taxes 64,866 13,641 13,757 — (16,539 ) 75,725 Income taxes 17,217 5,158 5,243 — — 27,618 Net income 47,649 8,483 8,514 — (16,539 ) 48,107 Preferred stock dividends of subsidiaries — 267 191 — — 458 Net income attributable to Hawaiian Electric 47,649 8,216 8,323 — (16,539 ) 47,649 Preferred stock dividends of Hawaiian Electric 540 — — — — 540 Net income for common stock $ 47,109 8,216 8,323 — (16,539 ) $ 47,109 Condensed Consolidating Statement of Income Three months ended June 30, 2018 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 431,699 89,548 86,938 — (59 ) $ 608,126 Expenses Fuel oil 120,007 19,432 32,278 — — 171,717 Purchased power 121,812 24,664 14,262 — — 160,738 Other operation and maintenance 76,845 19,015 16,782 — — 112,642 Depreciation 34,391 10,038 5,932 — — 50,361 Taxes, other than income taxes 40,951 8,408 8,165 — — 57,524 Total expenses 394,006 81,557 77,419 — — 552,982 Operating income 37,693 7,991 9,519 — (59 ) 55,144 Allowance for equity funds used during construction 2,588 124 271 — — 2,983 Equity in earnings of subsidiaries 9,080 — — — (9,080 ) — Retirement defined benefits expense—other than service costs (554 ) (105 ) (329 ) — — (988 ) Interest expense and other charges, net (12,930 ) (2,922 ) (2,367 ) — 59 (18,160 ) Allowance for borrowed funds used during construction 1,150 77 138 — — 1,365 Income before income taxes 37,027 5,165 7,232 — (9,080 ) 40,344 Income taxes 5,588 1,269 1,819 — — 8,676 Net income 31,439 3,896 5,413 — (9,080 ) 31,668 Preferred stock dividends of subsidiaries — 133 96 — — 229 Net income attributable to Hawaiian Electric 31,439 3,763 5,317 — (9,080 ) 31,439 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 31,169 3,763 5,317 — (9,080 ) $ 31,169 Condensed Consolidating Statement of Income Three months ended June 30, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 394,414 81,710 80,765 — (14 ) $ 556,875 Expenses Fuel oil 99,814 14,475 26,970 — — 141,259 Purchased power 116,458 23,482 13,127 — — 153,067 Other operation and maintenance 69,659 17,643 17,637 — — 104,939 Depreciation 32,723 9,686 5,747 — — 48,156 Taxes, other than income taxes 37,619 7,702 7,651 — — 52,972 Total expenses 356,273 72,988 71,132 — — 500,393 Operating income 38,141 8,722 9,633 — (14 ) 56,482 Allowance for equity funds used during construction 2,659 134 234 — — 3,027 Equity in earnings of subsidiaries 7,936 — — — (7,936 ) — Retirement defined benefits expense—other than service costs (1,302 ) 85 (218 ) — — (1,435 ) Interest expense and other charges, net (12,562 ) (2,996 ) (2,670 ) — 14 (18,214 ) Allowance for borrowed funds used during construction 988 55 100 — — 1,143 Income before income taxes 35,860 6,000 7,079 — (7,936 ) 41,003 Income taxes 9,946 2,235 2,679 — — 14,860 Net income 25,914 3,765 4,400 — (7,936 ) 26,143 Preferred stock dividends of subsidiaries — 133 96 — — 229 Net income attributable to Hawaiian Electric 25,914 3,632 4,304 — (7,936 ) 25,914 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 25,644 3,632 4,304 — (7,936 ) $ 25,644 Condensed Consolidating Statement of Income Six months ended June 30, 2018 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 832,879 177,481 168,294 — (101 ) $ 1,178,553 Expenses Fuel oil 234,505 37,919 66,261 — — 338,685 Purchased power 229,182 48,498 22,968 — — 300,648 Other operation and maintenance 149,785 35,113 35,354 — — 220,252 Depreciation 68,830 20,093 11,904 — — 100,827 Taxes, other than income taxes 79,118 16,620 15,890 — — 111,628 Total expenses 761,420 158,243 152,377 — — 1,072,040 Operating income 71,459 19,238 15,917 — (101 ) 106,513 Allowance for equity funds used during construction 5,475 235 567 — — 6,277 Equity in earnings of subsidiaries 18,405 — — — (18,405 ) — Retirement defined benefits expense—other than service costs (1,616 ) (208 ) (428 ) — — (2,252 ) Interest expense and other charges, net (25,425 ) (5,829 ) (4,701 ) — 101 (35,854 ) Allowance for borrowed funds used during construction 2,388 141 280 — — 2,809 Income before income taxes 70,686 13,577 11,635 — (18,405 ) 77,493 Income taxes 11,502 3,446 2,903 — — 17,851 Net income 59,184 10,131 8,732 — (18,405 ) 59,642 Preferred stock dividends of subsidiaries — 267 191 — — 458 Net income attributable to Hawaiian Electric 59,184 9,864 8,541 — (18,405 ) 59,184 Preferred stock dividends of Hawaiian Electric 540 — — — — 540 Net income for common stock $ 58,644 9,864 8,541 — (18,405 ) $ 58,644
Schedule of condensed consolidating statement of comprehensive income	Condensed Consolidating Statement of Comprehensive Income Three months ended June 30, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 25,644 3,632 4,304 — (7,936 ) $ 25,644 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 3,621 449 344 — (793 ) 3,621 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (3,581 ) (448 ) (343 ) — 791 (3,581 ) Other comprehensive income, net of taxes 40 1 1 — (2 ) 40 Comprehensive income attributable to common shareholder $ 25,684 3,633 4,305 — (7,938 ) $ 25,684 Condensed Consolidating Statement of Comprehensive Income Six months ended June 30, 2018 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 58,644 9,864 8,541 — (18,405 ) $ 58,644 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 9,506 1,409 1,211 — (2,620 ) 9,506 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (9,449 ) (1,408 ) (1,211 ) — 2,619 (9,449 ) Other comprehensive income, net of taxes 57 1 — — (1 ) 57 Comprehensive income attributable to common shareholder $ 58,701 9,865 8,541 — (18,406 ) $ 58,701 Condensed Consolidating Statement of Comprehensive Income Three months ended June 30, 2018 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 31,169 3,763 5,317 — (9,080 ) $ 31,169 Other comprehensive income (loss), net of taxes: Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 4,853 734 649 — (1,383 ) 4,853 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (4,827 ) (733 ) (649 ) — 1,382 (4,827 ) Other comprehensive income, net of taxes 26 1 — — (1 ) 26 Comprehensive income attributable to common shareholder $ 31,195 3,764 5,317 — (9,081 ) $ 31,195 Condensed Consolidating Statement of Comprehensive Income Six months ended June 30, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 47,109 8,216 8,323 — (16,539 ) $ 47,109 Other comprehensive income (loss), net of taxes: Derivatives qualifying as cash flow hedges: Reclassification adjustment to net income, net of taxes 454 — — — — 454 Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits 7,239 952 810 — (1,762 ) 7,239 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (7,194 ) (951 ) (810 ) — 1,761 (7,194 ) Other comprehensive income, net of taxes 499 1 — — (1 ) 499 Comprehensive income attributable to common shareholder $ 47,608 8,217 8,323 — (16,540 ) $ 47,608
Schedule of condensed consolidating balance sheet	Condensed Consolidating Balance Sheet June 30, 2018 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consoli- dating adjustments Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 44,023 5,876 3,015 — — $ 52,914 Plant and equipment 4,363,195 1,217,147 1,072,640 — — 6,652,982 Less accumulated depreciation (1,491,505 ) (536,210 ) (506,713 ) — — (2,534,428 ) Construction in progress 127,343 10,154 28,111 — — 165,608 Utility property, plant and equipment, net 3,043,056 696,967 597,053 — — 4,337,076 Nonutility property, plant and equipment, less accumulated depreciation 5,934 115 1,532 — — 7,581 Total property, plant and equipment, net 3,048,990 697,082 598,585 — — 4,344,657 Investment in wholly owned subsidiaries, at equity 561,764 — — — (561,764 ) — Current assets Cash and cash equivalents 13,922 4,516 2,321 101 — 20,860 Advances to affiliates 5,600 1,000 — — (6,600 ) — Customer accounts receivable, net 109,285 24,005 23,970 — — 157,260 Accrued unbilled revenues, net 80,239 15,243 15,357 — — 110,839 Other accounts receivable, net 10,657 2,561 1,124 — (7,446 ) 6,896 Fuel oil stock, at average cost 74,485 12,632 19,899 — — 107,016 Materials and supplies, at average cost 31,077 8,600 18,264 — — 57,941 Prepayments and other 21,482 6,329 2,943 — (1,514 ) 29,240 Regulatory assets 88,581 6,353 8,632 — — 103,566 Total current assets 435,328 81,239 92,510 101 (15,560 ) 593,618 Other long-term assets Regulatory assets 538,925 118,000 99,919 — — 756,844 Other 71,486 19,378 17,731 — — 108,595 Total other long-term assets 610,411 137,378 117,650 — — 865,439 Total assets $ 4,656,493 915,699 808,745 101 (577,324 ) $ 5,803,714 Capitalization and liabilities Capitalization Common stock equity $ 1,852,324 288,865 272,798 101 (561,764 ) $ 1,852,324 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 999,915 217,699 200,860 — — 1,418,474 Total capitalization 2,874,532 513,564 478,658 101 (561,764 ) 3,305,091 Current liabilities Current portion of long-term debt 29,990 10,996 8,997 — — 49,983 Short-term borrowings from non-affiliates 91,880 — — — — 91,880 Short-term borrowings from affiliate 1,000 — 5,600 — (6,600 ) — Accounts payable 115,806 17,405 20,548 — — 153,759 Interest and preferred dividends payable 15,743 4,203 2,752 — (14 ) 22,684 Taxes accrued 120,513 27,353 25,711 — (1,514 ) 172,063 Regulatory liabilities 2,751 2,499 4,537 — — 9,787 Other 42,449 10,223 13,963 — (7,432 ) 59,203 Total current liabilities 420,132 72,679 82,108 — (15,560 ) 559,359 Deferred credits and other liabilities Deferred income taxes 277,599 54,505 56,771 — — 388,875 Regulatory liabilities 627,369 173,305 94,755 — — 895,429 Unamortized tax credits 60,893 16,463 15,442 — — 92,798 Defined benefit pension and other postretirement benefit plans liability 330,356 64,175 63,422 — — 457,953 Other 65,612 21,008 17,589 — — 104,209 Total deferred credits and other liabilities 1,361,829 329,456 247,979 — — 1,939,264 Total capitalization and liabilities $ 4,656,493 915,699 808,745 101 (577,324 ) $ 5,803,714 Condensed Consolidating Balance Sheet December 31, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consoli- dating adjustments Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 43,972 6,189 3,016 — — $ 53,177 Plant and equipment 4,140,892 1,206,776 1,053,372 — — 6,401,040 Less accumulated depreciation (1,451,612 ) (528,024 ) (496,716 ) — — (2,476,352 ) Construction in progress 231,571 8,182 23,341 — — 263,094 Utility property, plant and equipment, net 2,964,823 693,123 583,013 — — 4,240,959 Nonutility property, plant and equipment, less accumulated depreciation 5,933 115 1,532 — — 7,580 Total property, plant and equipment, net 2,970,756 693,238 584,545 — — 4,248,539 Investment in wholly owned subsidiaries, at equity 557,013 — — — (557,013 ) — Current assets Cash and cash equivalents 2,059 4,025 6,332 101 — 12,517 Advances to affiliates — — 12,000 — (12,000 ) — Customer accounts receivable, net 86,987 22,510 18,392 — — 127,889 Accrued unbilled revenues, net 77,176 15,940 13,938 — — 107,054 Other accounts receivable, net 11,376 2,268 1,210 — (7,691 ) 7,163 Fuel oil stock, at average cost 64,972 8,698 13,203 — — 86,873 Materials and supplies, at average cost 28,325 8,041 18,031 — — 54,397 Prepayments and other 17,928 4,514 2,913 — — 25,355 Regulatory assets 76,203 5,038 7,149 — — 88,390 Total current assets 365,026 71,034 93,168 101 (19,691 ) 509,638 Other long-term assets Regulatory assets 557,464 122,783 100,660 — — 780,907 Other 60,157 16,311 15,061 — — 91,529 Total other long-term assets 617,621 139,094 115,721 — — 872,436 Total assets $ 4,510,416 903,366 793,434 101 (576,704 ) $ 5,630,613 Capitalization and liabilities Capitalization Common stock equity $ 1,845,283 286,647 270,265 101 (557,013 ) $ 1,845,283 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 924,979 202,701 190,836 — — 1,318,516 Total capitalization 2,792,555 496,348 466,101 101 (557,013 ) 3,198,092 Current liabilities Current portion of long-term debt 29,978 10,992 8,993 — — 49,963 Short-term borrowings-non-affiliate 4,999 — — — — 4,999 Short-term borrowings-affiliate 12,000 — — — (12,000 ) — Accounts payable 121,328 17,855 20,427 — — 159,610 Interest and preferred dividends payable 15,677 4,174 2,735 — (11 ) 22,575 Taxes accrued 133,839 34,950 30,312 — — 199,101 Regulatory liabilities 607 1,245 1,549 — — 3,401 Other 43,121 9,818 14,197 — (7,680 ) 59,456 Total current liabilities 361,549 79,034 78,213 — (19,691 ) 499,105 Deferred credits and other liabilities Deferred income taxes 281,223 56,955 55,863 — — 394,041 Regulatory liabilities 613,329 169,139 94,901 — — 877,369 Unamortized tax credits 59,039 16,167 15,163 — — 90,369 Defined benefit pension and other postretirement benefit plans liability 340,983 66,447 65,518 — — 472,948 Other 61,738 19,276 17,675 — — 98,689 Total deferred credits and other liabilities 1,356,312 327,984 249,120 — — 1,933,416 Total capitalization and liabilities $ 4,510,416 903,366 793,434 101 (576,704 ) $ 5,630,613
Schedule of condensed consolidating statement of changes in common stock equity	Condensed Consolidating Statement of Changes in Common Stock Equity Six months ended June 30, 2018 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Balance, December 31, 2017 $ 1,845,283 286,647 270,265 101 (557,013 ) $ 1,845,283 Net income for common stock 58,644 9,864 8,541 — (18,405 ) 58,644 Other comprehensive income, net of taxes 57 1 — — (1 ) 57 Common stock dividends (51,652 ) (7,644 ) (6,010 ) — 13,654 (51,652 ) Common stock issuance expenses (8 ) (3 ) 2 — 1 (8 ) Balance, June 30, 2018 $ 1,852,324 288,865 272,798 101 (561,764 ) $ 1,852,324 Condensed Consolidating Statement of Changes in Common Stock Equity Six months ended June 30, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Balance, December 31, 2016 $ 1,799,787 291,291 259,554 101 (550,946 ) $ 1,799,787 Net income for common stock 47,109 8,216 8,323 — (16,539 ) 47,109 Other comprehensive income, net of taxes 499 1 — — (1 ) 499 Common stock dividends (43,884 ) (7,748 ) (5,973 ) — 13,721 (43,884 ) Common stock issuance expenses (5 ) — (1 ) — 1 (5 ) Balance, June 30, 2017 $ 1,803,506 291,760 261,903 101 (553,764 ) $ 1,803,506
Schedule of condensed consolidating statement of cash flows	Condensed Consolidating Statement of Cash Flows Six months ended June 30, 2018 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Cash flows from operating activities Net income $ 59,184 10,131 8,732 — (18,405 ) $ 59,642 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of subsidiaries (18,455 ) — — — 18,405 (50 ) Common stock dividends received from subsidiaries 13,679 — — — (13,654 ) 25 Depreciation of property, plant and equipment 68,830 20,093 11,904 — — 100,827 Other amortization 9,200 2,976 845 — — 13,021 Deferred income taxes (6,708 ) (2,429 ) 794 — — (8,343 ) Allowance for equity funds used during construction (5,475 ) (235 ) (567 ) — — (6,277 ) Other 1,469 (322 ) (169 ) — — 978 Changes in assets and liabilities: Increase in accounts receivable (25,673 ) (2,387 ) (5,763 ) — (245 ) (34,068 ) Decrease (increase) in accrued unbilled revenues (3,063 ) 697 (1,419 ) — — (3,785 ) Increase in fuel oil stock (9,513 ) (3,934 ) (6,696 ) — — (20,143 ) Increase in materials and supplies (2,752 ) (559 ) (233 ) — — (3,544 ) Increase in regulatory assets (14,728 ) (1,974 ) (2,898 ) — — (19,600 ) Increase in accounts payable 13,093 3,096 2,095 — — 18,284 Change in prepaid and accrued income taxes, tax credits and revenue taxes (15,343 ) (9,952 ) (5,165 ) — (601 ) (31,061 ) Decrease in defined benefit pension and other postretirement benefit plans liability (1,117 ) (380 ) (464 ) — — (1,961 ) Change in other assets and liabilities 1,116 3,173 1,357 — 245 5,891 Net cash provided by operating activities 63,744 17,994 2,353 — (14,255 ) 69,836 Cash flows from investing activities Capital expenditures (156,600 ) (26,667 ) (29,953 ) — — (213,220 ) Contributions in aid of construction 9,680 2,243 1,650 — — 13,573 Other 2,241 884 575 — 601 4,301 Advances (to) from affiliates (5,600 ) (1,000 ) 12,000 — (5,400 ) — Net cash used in investing activities (150,279 ) (24,540 ) (15,728 ) — (4,799 ) (195,346 ) Cash flows from financing activities Common stock dividends (51,652 ) (7,644 ) (6,010 ) — 13,654 (51,652 ) Preferred stock dividends of Hawaiian Electric and subsidiaries (540 ) (267 ) (191 ) — — (998 ) Proceeds from issuance of long-term debt 75,000 15,000 10,000 — — 100,000 Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less 75,881 — 5,600 — 5,400 86,881 Other (291 ) (52 ) (35 ) — — (378 ) Net cash provided by financing activities 98,398 7,037 9,364 — 19,054 133,853 Net increase (decrease) in cash and cash equivalents 11,863 491 (4,011 ) — — 8,343 Cash and cash equivalents, beginning of period 2,059 4,025 6,332 101 — 12,517 Cash and cash equivalents, end of period $ 13,922 4,516 2,321 101 — $ 20,860 Condensed Consolidating Statement of Cash Flows Six months ended June 30, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Cash flows from operating activities Net income $ 47,649 8,483 8,514 — (16,539 ) $ 48,107 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of subsidiaries (16,589 ) — — — 16,539 (50 ) Common stock dividends received from subsidiaries 13,771 — — — (13,721 ) 50 Depreciation of property, plant and equipment 65,445 19,371 11,556 — — 96,372 Other amortization 1,875 905 1,482 — — 4,262 Deferred income taxes 15,060 3,590 4,988 — (39 ) 23,599 Allowance for equity funds used during construction (4,715 ) (249 ) (462 ) — — (5,426 ) Other 1,089 699 (173 ) — — 1,615 Changes in assets and liabilities: Decrease (increase) in accounts receivable (5,100 ) 1,182 (1,067 ) — 3,256 (1,729 ) Increase in accrued unbilled revenues (8,819 ) (602 ) (2,482 ) — — (11,903 ) Decrease (increase) in fuel oil stock (4,250 ) 94 (1,806 ) — — (5,962 ) Increase in materials and supplies (788 ) (1,472 ) (1,160 ) — — (3,420 ) Decrease (increase) in regulatory assets 11,378 (1,575 ) (1,624 ) — — 8,179 Increase in accounts payable 33,121 970 5,625 — — 39,716 Change in prepaid and accrued income taxes, tax credits and revenue taxes (29,430 ) (6,290 ) (4,725 ) — (465 ) (40,910 ) Increase (decrease) in defined benefit pension and other postretirement benefit plans liability 355 26 (79 ) — — 302 Change in other assets and liabilities (12,727 ) 129 1,807 — (3,256 ) (14,047 ) Net cash provided by operating activities 107,325 25,261 20,394 — (14,225 ) 138,755 Cash flows from investing activities Capital expenditures (146,721 ) (22,423 ) (21,015 ) — — (190,159 ) Contributions in aid of construction 14,078 1,870 1,623 — — 17,571 Other 4,820 619 307 — 504 6,250 Advances (to) from affiliates — (600 ) 9,000 — (8,400 ) — Net cash used in investing activities (127,823 ) (20,534 ) (10,085 ) — (7,896 ) (166,338 ) Cash flows from financing activities Common stock dividends (43,884 ) (7,748 ) (5,973 ) — 13,721 (43,884 ) Preferred stock dividends of Hawaiian Electric and subsidiaries (540 ) (267 ) (191 ) — — (998 ) Proceeds from issuance of special purpose revenue bonds 162,000 28,000 75,000 — — 265,000 Funds transferred for redemption of special purpose revenue bonds (162,000 ) (28,000 ) (75,000 ) — — (265,000 ) Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less 35,590 — — — 8,400 43,990 Other (2,068 ) (357 ) (804 ) — — (3,229 ) Net cash used in financing activities (10,902 ) (8,372 ) (6,968 ) — 22,121 (4,121 ) Net increase (decrease) in cash and cash equivalents (31,400 ) (3,645 ) 3,341 — — (31,704 ) Cash and cash equivalents, beginning of period 61,388 10,749 2,048 101 — 74,286 Cash and cash equivalents, end of period $ 29,988 7,104 5,389 101 — $ 42,582

Bank segment (Tables)

Bank segment (Tables)	6 Months Ended
	Jun. 30, 2018
Bank Subsidiary [Abstract]
Schedule of statements of income data	Statements of Income Data Three months ended June 30 Six months ended June 30 (in thousands) 2018 2017 2018 2017 Interest and dividend income Interest and fees on loans $ 54,633 $ 52,317 $ 107,433 $ 103,059 Interest and dividends on investment securities 8,628 6,763 17,830 13,743 Total interest and dividend income 63,261 59,080 125,263 116,802 Interest expense Interest on deposit liabilities 3,284 2,311 6,241 4,414 Interest on other borrowings 393 824 889 1,640 Total interest expense 3,677 3,135 7,130 6,054 Net interest income 59,584 55,945 118,133 110,748 Provision for loan losses 2,763 2,834 6,304 6,741 Net interest income after provision for loan losses 56,821 53,111 111,829 104,007 Noninterest income Fees from other financial services 4,744 5,810 9,398 11,420 Fee income on deposit liabilities 5,138 5,565 10,327 10,993 Fee income on other financial products 1,675 1,971 3,329 3,837 Bank-owned life insurance 1,133 1,925 2,004 2,908 Mortgage banking income 617 587 1,230 1,376 Other income, net 536 391 972 849 Total noninterest income 13,843 16,249 27,260 31,383 Noninterest expense Compensation and employee benefits 23,655 24,541 48,095 47,583 Occupancy 4,194 4,185 8,474 8,339 Data processing 3,540 3,207 7,004 6,487 Services 3,028 2,766 6,075 5,126 Equipment 1,874 1,771 3,602 3,519 Office supplies, printing and postage 1,491 1,527 2,998 3,062 Marketing 1,085 839 1,730 1,356 FDIC insurance 727 822 1,440 1,550 Other expense 4,556 4,906 8,657 9,412 Total noninterest expense 44,150 44,564 88,075 86,434 Income before income taxes 26,514 24,796 51,014 48,956 Income taxes 5,953 8,063 11,493 16,410 Net income $ 20,561 $ 16,733 $ 39,521 $ 32,546 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended June 30 Six months ended June 30 (in thousands) 2018 2017 2018 2017 Interest and dividend income 63,261 59,080 $ 125,263 $ 116,802 Noninterest income 13,843 16,249 27,260 31,383 *Revenues-Bank 77,104 75,329 152,523 148,185 Total interest expense 3,677 3,135 7,130 6,054 Provision for loan losses 2,763 2,834 6,304 6,741 Noninterest expense 44,150 44,564 88,075 86,434 Less: Retirement defined benefits expense—other than service costs (403 ) (201 ) (790 ) (396 ) *Expenses-Bank 50,187 50,332 100,719 98,833 *Operating income-Bank 26,917 24,997 51,804 49,352 Add back: Retirement defined benefits expense—other than service costs 403 201 790 396 Income before income taxes $ 26,514 $ 24,796 $ 51,014 $ 48,956
Schedule of statements of comprehensive income data	Statements of Comprehensive Income Data Three months ended June 30 Six months ended June 30 (in thousands) 2018 2017 2018 2017 Net income $ 20,561 $ 16,733 $ 39,521 $ 32,546 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 tax benefits (taxes) of $1,592, $(1,334), $6,459 and $(1,482), respectively (4,348 ) 2,021 (17,645 ) 2,244 Retirement benefit plans: Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $133, $133, $827 and $537, respectively 366 202 1,588 814 Other comprehensive income (loss), net of taxes (3,982 ) 2,223 (16,057 ) 3,058 Comprehensive income $ 16,579 $ 18,956 $ 23,464 $ 35,604
Schedule of balance sheets data	Balance Sheets Data (in thousands) June 30, 2018 December 31, 2017 Assets Cash and due from banks $ 120,189 $ 140,934 Interest-bearing deposits 109,230 93,165 Investment securities Available-for-sale, at fair value 1,409,528 1,401,198 Held-to-maturity, at amortized cost (fair value of $61,444 and $44,412, respectively) 62,630 44,515 Stock in Federal Home Loan Bank, at cost 10,158 9,706 Loans held for investment 4,774,744 4,670,768 Allowance for loan losses (52,803 ) (53,637 ) Net loans 4,721,941 4,617,131 Loans held for sale, at lower of cost or fair value 5,248 11,250 Other 462,469 398,570 Goodwill 82,190 82,190 Total assets $ 6,983,583 $ 6,798,659 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,812,348 $ 1,760,233 Deposit liabilities—interest-bearing 4,303,761 4,130,364 Other borrowings 126,930 190,859 Other 131,063 110,356 Total liabilities 6,374,102 6,191,812 Commitments and contingencies Common stock 1 1 Additional paid in capital 346,188 345,018 Retained earnings 310,298 292,957 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (32,596 ) $ (14,951 ) Retirement benefit plans (14,410 ) (47,006 ) (16,178 ) (31,129 ) Total shareholder’s equity 609,481 606,847 Total liabilities and shareholder’s equity $ 6,983,583 $ 6,798,659 Other assets Bank-owned life insurance $ 150,797 $ 148,775 Premises and equipment, net 186,620 136,270 Prepaid expenses 4,993 3,961 Accrued interest receivable 19,597 18,724 Mortgage-servicing rights 8,509 8,639 Low-income housing equity investments 63,033 59,016 Real estate acquired in settlement of loans, net — 133 Other 28,920 23,052 $ 462,469 $ 398,570 Other liabilities Accrued expenses $ 63,734 $ 39,312 Federal and state income taxes payable 1,200 3,736 Cashier’s checks 28,236 27,000 Advance payments by borrowers 10,415 10,245 Other 27,478 30,063 $ 131,063 $ 110,356
Schedule of the book value and aggregate fair value by major security type	The major components of investment securities were as follows: Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair value Amount Number of issues Fair value Amount June 30, 2018 Available-for-sale U.S. Treasury and federal agency obligations $ 179,986 $ 72 $ (4,125 ) $ 175,933 19 $ 98,578 $ (2,018 ) 9 $ 67,283 $ (2,107 ) Mortgage-related securities- FNMA, FHLMC and GNMA 1,218,313 350 (40,831 ) 1,177,832 81 694,629 (19,345 ) 83 456,218 (21,486 ) Corporate bonds 40,331 23 (18 ) 40,336 4 23,841 (18 ) — — — Mortgage revenue bond 15,427 — — 15,427 — — — — — — $ 1,454,057 $ 445 $ (44,974 ) $ 1,409,528 104 $ 817,048 $ (21,381 ) 92 $ 523,501 $ (23,593 ) Held-to-maturity Mortgage-related securities- FNMA, FHLMC and GNMA $ 62,630 $ 41 $ (1,227 ) $ 61,444 3 $ 41,138 $ (1,227 ) — $ — $ — $ 62,630 $ 41 $ (1,227 ) $ 61,444 3 $ 41,138 $ (1,227 ) — $ — $ — December 31, 2017 Available-for-sale U.S. Treasury and federal agency obligations $ 185,891 $ 438 $ (2,031 ) $ 184,298 15 $ 83,137 $ (825 ) 8 $ 62,296 $ (1,206 ) Mortgage-related securities- FNMA, FHLMC and GNMA 1,220,304 793 (19,624 ) 1,201,473 67 653,635 (6,839 ) 77 459,912 (12,785 ) Mortgage revenue bond 15,427 — — 15,427 — — — — — — $ 1,421,622 $ 1,231 $ (21,655 ) $ 1,401,198 82 $ 736,772 $ (7,664 ) 85 $ 522,208 $ (13,991 ) Held-to-maturity Mortgage-related securities- FNMA, FHLMC and GNMA $ 44,515 $ 1 $ (104 ) $ 44,412 2 $ 35,744 $ (104 ) — $ — $ — $ 44,515 $ 1 $ (104 ) $ 44,412 2 $ 35,744 $ (104 ) — $ — $ —
Schedule of contractual maturities of available-for-sale securities	The contractual maturities of investment securities were as follows: June 30, 2018 Amortized cost Fair value (in thousands) Available-for-sale Due in one year or less $ 25,005 $ 24,860 Due after one year through five years 105,425 104,020 Due after five years through ten years 77,526 75,563 Due after ten years 27,788 27,253 235,744 231,696 Mortgage-related securities-FNMA, FHLMC and GNMA 1,218,313 1,177,832 Total available-for-sale securities $ 1,454,057 $ 1,409,528 Held-to-maturity Mortgage-related securities-FNMA, FHLMC and GNMA $ 62,630 $ 61,444 Total held-to-maturity securities $ 62,630 $ 61,444
Schedule of components of loans receivable	The components of loans were summarized as follows: June 30, 2018 December 31, 2017 (in thousands) Real estate: Residential 1-4 family $ 2,099,950 $ 2,118,047 Commercial real estate 758,835 733,106 Home equity line of credit 938,902 913,052 Residential land 16,032 15,797 Commercial construction 124,421 108,273 Residential construction 14,873 14,910 Total real estate 3,953,013 3,903,185 Commercial 593,596 544,828 Consumer 228,804 223,564 Total loans 4,775,413 4,671,577 Less: Deferred fees and discounts (669 ) (809 ) Allowance for loan losses (52,803 ) (53,637 ) Total loans, net $ 4,721,941 $ 4,617,131
Schedule of allowance for loan losses	The allowance for loan losses (balances and changes) and financing receivables were as follows: (in thousands) Residential 1-4 family Commercial real estate Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Unallo-cated Total Three months ended June 30, 2018 Allowance for loan losses: Beginning balance $ 2,525 $ 15,959 $ 7,982 $ 674 $ 4,361 $ 4 $ 10,355 $ 12,035 $ — $ 53,895 Charge-offs — — (144 ) (9 ) — — (540 ) (3,888 ) — (4,581 ) Recoveries 14 — 13 46 — — 280 373 — 726 Provision 400 (661 ) (517 ) (69 ) 255 — 66 3,289 — 2,763 Ending balance $ 2,939 $ 15,298 $ 7,334 $ 642 $ 4,616 $ 4 $ 10,161 $ 11,809 $ — $ 52,803 Three months ended June 30, 2017 Allowance for loan losses: Beginning balance $ 2,781 $ 16,504 $ 5,417 $ 1,479 $ 7,257 $ 11 $ 14,902 $ 7,646 $ — $ 55,997 Charge-offs — — — (92 ) — — (752 ) (2,390 ) — (3,234 ) Recoveries 49 — 39 15 — — 299 357 — 759 Provision 300 2,336 71 (138 ) (2,551 ) (2 ) 103 2,715 — 2,834 Ending balance $ 3,130 $ 18,840 $ 5,527 $ 1,264 $ 4,706 $ 9 $ 14,552 $ 8,328 $ — $ 56,356 Six months ended June 30, 2018 Allowance for loan losses: Beginning balance $ 2,902 $ 15,796 $ 7,522 $ 896 $ 4,671 $ 12 $ 10,851 $ 10,987 $ — $ 53,637 Charge-offs (31 ) — (144 ) (17 ) — — (1,142 ) (8,120 ) — (9,454 ) Recoveries 68 — 27 51 — — 1,450 720 — 2,316 Provision — (498 ) (71 ) (288 ) (55 ) (8 ) (998 ) 8,222 — 6,304 Ending balance $ 2,939 $ 15,298 $ 7,334 $ 642 $ 4,616 $ 4 $ 10,161 $ 11,809 $ — $ 52,803 June 30, 2018 Ending balance: individually evaluated for impairment $ 1,027 $ 53 $ 1,161 $ 7 $ — $ — $ 597 $ 3 $ 2,848 Ending balance: collectively evaluated for impairment $ 1,912 $ 15,245 $ 6,173 $ 635 $ 4,616 $ 4 $ 9,564 $ 11,806 $ — $ 49,955 Financing Receivables: Ending balance $ 2,099,950 $ 758,835 $ 938,902 $ 16,032 $ 124,421 $ 14,873 $ 593,596 $ 228,804 $ 4,775,413 Ending balance: individually evaluated for impairment $ 17,605 $ 993 $ 13,849 $ 1,171 $ — $ — $ 5,874 $ 91 $ 39,583 Ending balance: collectively evaluated for impairment $ 2,082,345 $ 757,842 $ 925,053 $ 14,861 $ 124,421 $ 14,873 $ 587,722 $ 228,713 $ 4,735,830 Six months ended June 30, 2017 Allowance for loan losses: Beginning balance $ 2,873 $ 16,004 $ 5,039 $ 1,738 $ 6,449 $ 12 $ 16,618 $ 6,800 $ — $ 55,533 Charge-offs (6 ) — (14 ) (92 ) — — (2,262 ) (5,200 ) — (7,574 ) Recoveries 58 — 130 218 — — 596 654 — 1,656 Provision 205 2,836 372 (600 ) (1,743 ) (3 ) (400 ) 6,074 — 6,741 Ending balance $ 3,130 $ 18,840 $ 5,527 $ 1,264 $ 4,706 $ 9 $ 14,552 $ 8,328 $ — $ 56,356 December 31, 2017 Ending balance: individually evaluated for impairment $ 1,248 $ 65 $ 647 $ 47 $ — $ — $ 694 $ 29 $ 2,730 Ending balance: collectively evaluated for impairment $ 1,654 $ 15,731 $ 6,875 $ 849 $ 4,671 $ 12 $ 10,157 $ 10,958 $ — $ 50,907 Financing Receivables: Ending balance $ 2,118,047 $ 733,106 $ 913,052 $ 15,797 $ 108,273 $ 14,910 $ 544,828 $ 223,564 $ 4,671,577 Ending balance: individually evaluated for impairment $ 18,284 $ 1,016 $ 8,188 $ 1,265 $ — $ — $ 4,574 $ 66 $ 33,393 Ending balance: collectively evaluated for impairment $ 2,099,763 $ 732,090 $ 904,864 $ 14,532 $ 108,273 $ 14,910 $ 540,254 $ 223,498 $ 4,638,184
Schedule of credit risk profile by internally assigned grade for loans	The credit risk profile by internally assigned grade for loans was as follows: June 30, 2018 December 31, 2017 (in thousands) Commercial real estate Commercial construction Commercial Commercial real estate Commercial construction Commercial Grade: Pass $ 671,592 $ 99,632 $ 539,168 $ 630,877 $ 83,757 $ 492,942 Special mention 38,424 22,500 32,711 49,347 22,500 27,997 Substandard 48,819 2,289 21,717 52,882 2,016 23,421 Doubtful — — — — — 468 Loss — — — — — — Total $ 758,835 $ 124,421 $ 593,596 $ 733,106 $ 108,273 $ 544,828
Schedule of credit risk profile based on payment activity for loans	The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 days past due 60-89 days past due Greater than 90 days Total past due Current Total financing receivables Recorded investment> 90 days and accruing June 30, 2018 Real estate: Residential 1-4 family $ 2,975 $ 1,348 $ 4,360 $ 8,683 $ 2,091,267 $ 2,099,950 $ — Commercial real estate — 725 — 725 758,110 758,835 — Home equity line of credit 2,075 288 2,545 4,908 933,994 938,902 — Residential land 741 111 631 1,483 14,549 16,032 — Commercial construction — — — — 124,421 124,421 — Residential construction — — — — 14,873 14,873 — Commercial 1,721 491 551 2,763 590,833 593,596 — Consumer 3,421 2,019 1,579 7,019 221,785 228,804 — Total loans $ 10,933 $ 4,982 $ 9,666 $ 25,581 $ 4,749,832 $ 4,775,413 $ — December 31, 2017 Real estate: Residential 1-4 family $ 1,532 $ 1,715 $ 5,071 $ 8,318 $ 2,109,729 $ 2,118,047 $ — Commercial real estate — — — — 733,106 733,106 — Home equity line of credit 425 114 2,051 2,590 910,462 913,052 — Residential land 23 — 625 648 15,149 15,797 — Commercial construction — — — — 108,273 108,273 — Residential construction — — — — 14,910 14,910 — Commercial 1,825 2,025 730 4,580 540,248 544,828 — Consumer 3,432 2,159 1,876 7,467 216,097 223,564 — Total loans $ 7,237 $ 6,013 $ 10,353 $ 23,603 $ 4,647,974 $ 4,671,577 $ —
Schedule of credit risk profile based on nonaccrual loans, accruing loans 90 days or more past due	The credit risk profile based on nonaccrual loans, accruing loans 90 days or more past due and troubled debt restructuring (TDR) loans was as follows: (in thousands) June 30, 2018 December 31, 2017 Real estate: Residential 1-4 family $ 13,121 $ 12,598 Commercial real estate — — Home equity line of credit 6,051 4,466 Residential land 843 841 Commercial construction — — Residential construction — — Commercial 4,385 3,069 Consumer 2,820 2,617 Total nonaccrual loans $ 27,220 $ 23,591 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 $ 10,777 $ 10,982 Commercial real estate 993 1,016 Home equity line of credit 10,255 6,584 Residential land 328 425 Commercial construction — — Residential construction — — Commercial 1,716 1,741 Consumer 64 66 Total troubled debt restructured loans not included above $ 24,133 $ 20,814
Schedule of the carrying amount and the total unpaid principal balance of impaired loans, with and without recorded allowance for loans losses	The total carrying amount and the total unpaid principal balance of impaired loans were as follows: June 30, 2018 Three months ended June 30, 2018 Six months ended June 30, 2018 (in thousands) Recorded investment Unpaid principal balance Related Allowance Average recorded investment Interest income recognized* Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 8,966 $ 9,498 $ — $ 8,900 $ 50 $ 8,699 $ 157 Commercial real estate — — — — — — — Home equity line of credit 2,505 2,803 — 2,374 7 2,037 12 Residential land 1,141 1,449 — 1,132 5 1,150 10 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 4,158 5,079 — 3,026 10 2,691 20 Consumer 33 33 — 15 — 11 — $ 16,803 $ 18,862 $ — $ 15,447 $ 72 $ 14,588 $ 199 With an allowance recorded Real estate: Residential 1-4 family $ 8,639 $ 8,842 $ 1,027 $ 8,778 $ 97 $ 8,953 $ 190 Commercial real estate 993 993 53 997 10 1,003 21 Home equity line of credit 11,344 11,414 1,161 10,420 96 9,080 177 Residential land 30 30 7 40 1 58 3 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 1,716 1,716 597 1,738 30 1,848 66 Consumer 58 58 3 58 1 58 2 $ 22,780 $ 23,053 $ 2,848 $ 22,031 $ 235 $ 21,000 $ 459 Total Real estate: Residential 1-4 family $ 17,605 $ 18,340 $ 1,027 $ 17,678 $ 147 $ 17,652 $ 347 Commercial real estate 993 993 53 997 10 1,003 21 Home equity line of credit 13,849 14,217 1,161 12,794 103 11,117 189 Residential land 1,171 1,479 7 1,172 6 1,208 13 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 5,874 6,795 597 4,764 40 4,539 86 Consumer 91 91 3 73 1 69 2 $ 39,583 $ 41,915 $ 2,848 $ 37,478 $ 307 $ 35,588 $ 658 December 31, 2017 Three months ended June 30, 2017 Six months ended June 30, 2017 (in thousands) Recorded investment Unpaid principal balance Related allowance Average recorded investment Interest income recognized* Average recorded investment Interest income recognized* With no related allowance recorded Real estate: Residential 1-4 family $ 9,097 $ 9,644 $ — $ 9,304 $ 76 $ 9,429 $ 160 Commercial real estate — — — 143 11 182 11 Home equity line of credit 1,496 1,789 — 2,401 51 2,203 65 Residential land 1,143 1,434 — 1,075 8 1,016 34 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 2,328 3,166 — 1,949 2 3,428 8 Consumer 8 8 — 1 — — — $ 14,072 $ 16,041 $ — $ 14,873 $ 148 $ 16,258 $ 278 With an allowance recorded Real estate: Residential 1-4 family $ 9,187 $ 9,390 $ 1,248 $ 10,054 $ 117 $ 10,051 $ 236 Commercial real estate 1,016 1,016 65 1,292 14 1,296 28 Home equity line of credit 6,692 6,736 647 4,372 47 4,467 96 Residential land 122 122 47 1,532 24 1,804 61 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 2,246 2,252 694 2,562 68 4,915 469 Consumer 58 58 29 68 1 49 1 $ 19,321 $ 19,574 $ 2,730 $ 19,880 $ 271 $ 22,582 $ 891 Total Real estate: Residential 1-4 family $ 18,284 $ 19,034 $ 1,248 $ 19,358 $ 193 $ 19,480 $ 396 Commercial real estate 1,016 1,016 65 1,435 25 1,478 39 Home equity line of credit 8,188 8,525 647 6,773 98 6,670 161 Residential land 1,265 1,556 47 2,607 32 2,820 95 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 4,574 5,418 694 4,511 70 8,343 477 Consumer 66 66 29 69 1 49 1 $ 33,393 $ 35,615 $ 2,730 $ 34,753 $ 419 $ 38,840 $ 1,169 * Since loan was classified as impaired.
Schedule of loan modifications	Loan modifications that occurred during the second quarters and first six months of 2018 and 2017 and the impact on the allowance for loan losses were as follows: Three months ended June 30, 2018 Six months ended June 30, 2018 Number of contracts Outstanding recorded investment 1 Net increase in allowance Number of contracts Outstanding recorded investment 1 Net increase in allowance (dollars in thousands) Pre-modification Post-modification (as of period end) Pre-modification Post-modification (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family — $ — $ — $ — 1 $ 339 $ 344 $ 16 Commercial real estate — — — — — — — — Home equity line of credit 21 3,338 3,338 554 39 5,508 5,512 942 Residential land — — — — 1 109 109 — Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial 2 43 43 42 7 2,294 2,294 42 Consumer — — — — — — — — 23 $ 3,381 $ 3,381 $ 596 48 $ 8,250 $ 8,259 $ 1,000 Three months ended June 30, 2017 Six months ended June 30, 2017 Number of contracts Outstanding recorded 1 Net increase in allowance Number of contracts Outstanding recorded 1 Net increase in allowance (dollars in thousands) Pre-modification Post-modification (as of period end) Pre-modification Post-modification (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 2 $ 360 $ 360 $ — 5 $ 872 $ 880 $ 45 Commercial real estate — — — — — — — — Home equity line of credit 5 298 298 59 13 524 510 93 Residential land — — — — — — — — Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial — — — — 1 342 342 — Consumer — — — — 1 59 59 27 7 $ 658 $ 658 $ 59 20 $ 1,797 $ 1,791 $ 165 1 The reported balances include loans that became TDR during the period, and were fully paid-off, charged-off, or sold prior to period end.
Schedule of troubled debt restructuring on financing receivables that experienced default	Loans modified in TDRs that experienced a payment default of 90 days or more during the second quarters and first six months of 2018 and 2017 , and for which the payment of default occurred within one year of the modification, were as follows: Three months ended June 30, 2018 Six months ended June 30, 2018 (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 — $ — — $ — Commercial real estate — — — — Home equity line of credit 1 100 2 181 Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial 1 291 1 291 Consumer — — — — 2 $ 391 3 $ 472 Three months ended June 30, 2017 Six months ended June 30, 2017 (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 $ 222 2 $ 523 Commercial real estate — — — — Home equity line of credit — — — — Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial — — — — Consumer — — — — 1 $ 222 2 $ 523
Schedule of amortized intangible assets	Changes in the carrying value of mortgage servicing rights were as follows: (in thousands) Gross 1 Accumulated amortization 1 Valuation allowance Net June 30, 2018 $ 18,238 $ (9,729 ) $ — $ 8,509 December 31, 2017 17,511 (8,872 ) — 8,639 1 Reflects the impact of loans paid in full. Changes related to mortgage servicing rights were as follows: Three months ended June 30 Six months ended June 30 (in thousands) 2018 2017 2018 2017 Mortgage servicing rights Beginning balance $ 8,541 $ 9,294 $ 8,639 $ 9,373 Amount capitalized 392 362 727 798 Amortization (424 ) (475 ) (857 ) (990 ) Other-than-temporary impairment — — — — Carrying amount before valuation allowance 8,509 9,181 8,509 9,181 Valuation allowance for mortgage servicing rights Beginning balance — — — — Provision (recovery) — — — — Other-than-temporary impairment — — — — Ending balance — — — — Net carrying value of mortgage servicing rights $ 8,509 $ 9,181 $ 8,509 $ 9,181
Schedule of key assumptions used in estimating fair value	Key assumptions used in estimating the fair value of ASB’s mortgage servicing rights used in the impairment analysis were as follows: (dollars in thousands) June 30, 2018 December 31, 2017 Unpaid principal balance $ 1,192,901 $ 1,195,454 Weighted average note rate 3.96 % 3.94 % Weighted average discount rate 10.0 % 10.0 % Weighted average prepayment speed 6.8 % 9.0 % The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TSR and the resulting fair value of LTIP awards granted: 2018 2017 Risk-free interest rate 2.29 % 1.46 % Expected life in years 3 3 Expected volatility 17.0 % 20.1 % Range of expected volatility for Peer Group 15.1% to 26.2% 15.4% to 26.0% Grant date fair value (per share) $38.20 $39.51 The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis: Significant unobservable input value (1) ($ in thousands) Fair value Valuation technique Significant unobservable input Range Weighted Average June 30, 2018 Residential loans $ 232 Fair value of collateral Appraised value less 7% selling cost 62-69% 68% Total loans $ 232 December 31, 2017 Residential loans $ 613 Fair value of collateral Appraised value less 7% selling cost 71-92% 84% Commercial loans 2,008 Fair value of collateral Appraised value 71-76% 75% Total loans $ 2,621 (1) Represent percent of outstanding principal balance.
Schedule of sensitivity analysis of fair value, transferor's interests in transferred financial assets	The sensitivity analysis of fair value of MSRs to hypothetical adverse changes of 25 and 50 basis points in certain key assumptions was as follows: (dollars in thousands) June 30, 2018 December 31, 2017 Prepayment rate: 25 basis points adverse rate change $ (344 ) $ (869 ) 50 basis points adverse rate change (797 ) (1,828 ) Discount rate: 25 basis points adverse rate change (135 ) (111 ) 50 basis points adverse rate change (268 ) (220 )
Schedule of securities sold under agreements to repurchase	The following tables present information about the securities sold under agreements to repurchase, including the related collateral received from or pledged to counterparties: (in millions) Gross amount of recognized liabilities Gross amount offset in the Balance Sheet Net amount of liabilities presented in the Balance Sheet Repurchase agreements June 30, 2018 $ 77 $ — $ 77 December 31, 2017 141 — 141 Gross amount not offset in the Balance Sheet (in millions) Net amount of liabilities presented in the Balance Sheet Financial instruments Cash collateral pledged June 30, 2018 Commercial account holders $ 77 $ 193 $ — Total $ 77 $ 193 $ — December 31, 2017 Commercial account holders $ 141 $ 165 $ — Total $ 141 $ 165 $ —
Schedule of notional and fair value of derivatives	The notional amount and fair value of ASB’s derivative financial instruments were as follows: June 30, 2018 December 31, 2017 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 21,954 $ 248 $ 13,669 $ 131 Forward commitments 24,911 (62 ) 14,465 (24 )
Schedule of derivative financial instruments	ASB’s derivative financial instruments, their fair values and balance sheet location were as follows: Derivative Financial Instruments Not Designated as Hedging Instruments 1 June 30, 2018 December 31, 2017 (in thousands) Asset derivatives Liability derivatives Asset derivatives Liability Interest rate lock commitments $ 248 $ — $ 133 $ 2 Forward commitments 2 64 4 28 $ 250 $ 64 $ 137 $ 30 1 Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the balance sheets.
Schedule of derivative financial instruments and net gain or loss	The following table presents ASB’s derivative financial instruments and the amount and location of the net gains or losses recognized in ASB’s statements of income: Derivative Financial Instruments Not Designated as Hedging Instruments Location of net gains (losses) recognized in the Statement of Income Three months ended June 30 Six months ended June 30 (in thousands) 2018 2017 2018 2017 Interest rate lock commitments Mortgage banking income $ (7 ) $ (191 ) $ 117 $ (295 ) Forward commitments Mortgage banking income (2 ) 192 (38 ) 265 $ (9 ) $ 1 $ 79 $ (30 )

Credit agreements and long-te26

Credit agreements and long-term debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of long-term debt	On May 30, 2018, the Utilities issued, through a private placement pursuant to separate Note Purchase Agreements (the Note Purchase Agreements), the following unsecured notes bearing taxable interest (the Notes): Series 2018A Series 2018B Series 2018C Aggregate principal amount $67.5 million $17.5 million $15 million Fixed coupon interest rate 4.38% 4.53% 4.72% Maturity date May 30, 2028 March 30, 2033 May 30, 2048 Principal amount by company: Hawaiian Electric $52 million $12.5 million $10.5 million Hawaii Electric Light $9 million $3 million $3 million Maui Electric $6.5 million $2 million $1.5 million

Shareholders' equity (Tables)

Shareholders' equity (Tables)	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Schedule of accumulated other comprehensive income	Changes in the balances of each component of accumulated other comprehensive income/(loss) (AOCI) were as follows: HEI Consolidated Hawaiian Electric Consolidated (in thousands) Net unrealized gains (losses) on securities Unrealized gains (losses) on derivatives Retirement benefit plans AOCI Unrealized gains (losses) on derivatives Retirement benefit plans AOCI Balance, December 31, 2017 $ (14,951 ) $ — $ (26,990 ) $ (41,941 ) $ — $ (1,219 ) $ (1,219 ) Current period other comprehensive income (loss) (17,645 ) — 1,047 (16,598 ) — 57 57 Balance, June 30, 2018 $ (32,596 ) $ — $ (25,943 ) $ (58,539 ) $ — $ (1,162 ) $ (1,162 ) Balance, December 31, 2016 $ (7,931 ) $ (454 ) $ (24,744 ) $ (33,129 ) $ (454 ) $ 132 $ (322 ) Current period other comprehensive income 2,244 454 657 3,355 454 45 499 Balance, June 30, 2017 $ (5,687 ) $ — $ (24,087 ) $ (29,774 ) $ — $ 177 $ 177
Schedule of reclassifications out of accumulated other comprehensive income/(loss)	Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Three months ended June 30 Six months ended June 30 Affected line item in the (in thousands) 2018 2017 2018 2017 Statements of Income / Balance Sheets HEI consolidated Derivatives qualifying as cash flow hedges: Window forward contracts $ — $ — $ — $ 454 Property, plant and equipment-electric utilities Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 5,350 3,930 10,496 7,851 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (4,827 ) (3,581 ) (9,449 ) (7,194 ) See Note 8 for additional details Total reclassifications $ 523 $ 349 $ 1,047 $ 1,111 Hawaiian Electric consolidated Derivatives qualifying as cash flow hedges: Window forward contracts $ — $ — $ — $ 454 Property, plant and equipment Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 4,853 3,621 9,506 7,239 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (4,827 ) (3,581 ) (9,449 ) (7,194 ) See Note 8 for additional details Total reclassifications $ 26 $ 40 $ 57 $ 499

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The following tables disaggregates revenues by major source, timing of revenue recognition, and segment: Three months ended June 30, 2018 Six months ended June 30, 2018 Electric utility Bank Other Total Electric utility Bank Other Total (in thousands) Revenues from contracts with customers Electric energy sales - residential $ 185,217 $ — $ — $ 185,217 $ 363,806 $ — $ — $ 363,806 Electric energy sales - commercial 206,169 — — 206,169 395,167 — — 395,167 Electric energy sales - large light and power 214,676 — — 214,676 406,997 — — 406,997 Electric energy sales - other 3,217 — — 3,217 6,480 — — 6,480 Utility fees 751 — — 751 1,548 — — 1,548 Bank fees — 11,557 — 11,557 — 23,054 — 23,054 Total revenues from contracts with customers 610,030 11,557 — 621,587 1,173,998 23,054 — 1,197,052 Revenues from other sources Regulatory revenue (4,643 ) — — (4,643 ) 107 — — 107 Bank interest and dividend income — 63,261 — 63,261 — 125,263 — 125,263 Other bank noninterest income — 2,286 — 2,286 — 4,206 — 4,206 Other 2,739 — 47 2,786 4,448 — 75 4,523 Total revenues from other sources (1,904 ) 65,547 47 63,690 4,555 129,469 75 134,099 Total revenues $ 608,126 $ 77,104 $ 47 $ 685,277 $ 1,178,553 $ 152,523 $ 75 $ 1,331,151 Timing of revenue recognition Services/goods transferred at a point in time $ 751 $ 11,557 $ — $ 12,308 $ 1,548 $ 23,054 $ — $ 24,602 Services/goods transferred over time 609,279 — — 609,279 1,172,450 — — 1,172,450 Total revenues from contracts with customers $ 610,030 $ 11,557 $ — $ 621,587 $ 1,173,998 $ 23,054 $ — $ 1,197,052

Retirement benefits (Tables)

Retirement benefits (Tables)	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Schedule of components of net periodic benefit cost for consolidated HEI	The components of NPPC and NPBC for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended June 30 Six months ended June 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2018 2017 2018 2017 2018 2017 2018 2017 HEI consolidated Service cost $ 17,428 $ 15,870 $ 692 $ 847 $ 34,541 $ 32,364 $ 1,361 $ 1,687 Interest cost 19,459 20,361 2,030 2,315 38,693 40,577 3,961 4,726 Expected return on plan assets (27,224 ) (25,646 ) (3,267 ) (3,104 ) (54,478 ) (51,367 ) (6,459 ) (6,170 ) Amortization of net prior service gain (11 ) (13 ) (451 ) (448 ) (21 ) (27 ) (903 ) (897 ) Amortization of net actuarial loss 7,634 6,707 48 199 15,029 13,220 46 565 Net periodic pension/benefit cost (return) 17,286 17,279 (948 ) (191 ) 33,764 34,767 (1,994 ) (89 ) Impact of PUC D&Os 7,179 (4,867 ) 1,024 527 9,836 (10,023 ) 2,095 673 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 24,465 $ 12,412 $ 76 $ 336 $ 43,600 $ 24,744 $ 101 $ 584 Hawaiian Electric consolidated Service cost $ 17,007 $ 15,436 $ 688 $ 841 $ 33,680 $ 31,530 $ 1,352 $ 1,676 Interest cost 17,937 18,726 1,955 2,231 35,647 37,315 3,814 4,558 Expected return on plan assets (25,577 ) (23,935 ) (3,216 ) (3,056 ) (51,184 ) (47,946 ) (6,356 ) (6,073 ) Amortization of net prior service loss (gain) 2 2 (451 ) (451 ) 4 4 (902 ) (902 ) Amortization of net actuarial loss 6,941 6,190 49 192 13,651 12,196 49 551 Net periodic pension/benefit cost (return) 16,310 16,419 (975 ) (243 ) 31,798 33,099 (2,043 ) (190 ) Impact of PUC D&Os 7,179 (4,867 ) 1,024 527 9,836 (10,023 ) 2,095 673 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 23,489 $ 11,552 $ 49 $ 284 $ 41,634 $ 23,076 $ 52 $ 483

Share-based compensation (Table

Share-based compensation (Tables)	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of share-based compensation expense and related income tax benefit	Share-based compensation expense and the related income tax benefit were as follows: Three months ended June 30 Six months ended June 30 (in millions) 2018 2017 2018 2017 HEI consolidated Share-based compensation expense 1 $ 2.8 $ 2.2 $ 4.4 $ 3.3 Income tax benefit 0.5 0.8 0.7 1.2 Hawaiian Electric consolidated Share-based compensation expense 1 0.9 0.7 1.5 1.1 Income tax benefit 0.2 0.3 0.3 0.4 1 For the three and six months ended June 30, 2018 and 2017, the Company has not capitalized any share-based compensation.
Schedule of common stock granted to a nonemployee director under the 2011 Director Plan	HEI granted HEI common stock to nonemployee directors of HEI, Hawaiian Electric and ASB under the 2011 Director Plan as follows: Three months ended June 30 Six months ended June 30 (dollars in millions) 2018 2017 2018 2017 Shares granted 37,747 35,000 38,821 35,770 Fair value $ 1.3 $ 1.1 $ 1.3 $ 1.2 Income tax benefit 0.3 0.4 0.3 0.5
Schedule of restricted stock units	Information about HEI’s grants of restricted stock units was as follows: Three months ended June 30 Six months ended June 30 2018 2017 2018 2017 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 208,088 $ 32.97 236,036 $ 31.42 197,047 $ 31.53 220,683 $ 29.57 Granted 3,159 33.78 896 33.06 92,064 34.09 97,873 33.47 Vested (448 ) 31.94 (7,370 ) 29.17 (75,683 ) 30.56 (88,994 ) 28.88 Forfeited (9,943 ) 32.05 (23,079 ) 31.50 (12,572 ) 32.27 (23,079 ) 31.50 Outstanding, end of period 200,856 $ 33.03 206,483 $ 31.50 200,856 $ 33.03 206,483 $ 31.50 Total weighted-average grant-date fair value of shares granted (in millions) $ 0.1 $ — $ 3.1 $ 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.
Schedule of Long-Term Incentive Plan (LTIP) linked to total return to shareholders	Information about HEI’s LTIP grants linked to TSR was as follows: Three months ended June 30 Six months ended June 30 2018 2017 2018 2017 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 66,791 $ 38.84 36,971 $ 39.51 32,904 $ 39.51 83,106 $ 22.95 Granted 1,315 38.20 233 39.51 36,941 38.21 37,204 39.51 Vested (issued or unissued and cancelled) — — — — — — (83,106 ) 22.95 Forfeited (1,929 ) 38.85 (3,434 ) 39.51 (3,668 ) 38.84 (3,434 ) 39.51 Outstanding, end of period 66,177 $ 38.82 33,770 $ 39.51 66,177 $ 38.82 33,770 $ 39.51 Total weighted-average grant-date fair value of shares granted (in millions) $ 0.1 $ — $ 1.4 $ 1.5 (1) Weighted-average grant-date fair value per share determined using a Monte Carlo simulation model.
Schedule of Long-Term Incentive Program fair value awards granted	Key assumptions used in estimating the fair value of ASB’s mortgage servicing rights used in the impairment analysis were as follows: (dollars in thousands) June 30, 2018 December 31, 2017 Unpaid principal balance $ 1,192,901 $ 1,195,454 Weighted average note rate 3.96 % 3.94 % Weighted average discount rate 10.0 % 10.0 % Weighted average prepayment speed 6.8 % 9.0 % The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TSR and the resulting fair value of LTIP awards granted: 2018 2017 Risk-free interest rate 2.29 % 1.46 % Expected life in years 3 3 Expected volatility 17.0 % 20.1 % Range of expected volatility for Peer Group 15.1% to 26.2% 15.4% to 26.0% Grant date fair value (per share) $38.20 $39.51 The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis: Significant unobservable input value (1) ($ in thousands) Fair value Valuation technique Significant unobservable input Range Weighted Average June 30, 2018 Residential loans $ 232 Fair value of collateral Appraised value less 7% selling cost 62-69% 68% Total loans $ 232 December 31, 2017 Residential loans $ 613 Fair value of collateral Appraised value less 7% selling cost 71-92% 84% Commercial loans 2,008 Fair value of collateral Appraised value 71-76% 75% Total loans $ 2,621 (1) Represent percent of outstanding principal balance.
Schedule of Long-Term Incentive Plan (LTIP) linked to other performance conditions	Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows: Three months ended June 30 Six months ended June 30 2018 2017 2018 2017 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 267,167 $ 33.80 147,888 $ 33.48 131,616 $ 33.47 109,816 $ 25.18 Granted 5,257 33.52 930 32.58 147,766 34.08 148,818 33.47 Vested — — — — — — (109,816 ) 25.18 Forfeited (7,717 ) 33.80 (13,740 ) 33.48 (14,675 ) 33.80 (13,740 ) 33.48 Outstanding, end of period 264,707 $ 33.79 135,078 $ 33.47 264,707 $ 33.79 135,078 $ 33.47 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ 0.2 $ — $ 5.0 $ 5.0 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.

Cash flows (Tables)

Cash flows (Tables)	6 Months Ended
	Jun. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental disclosures of cash and noncash activity	Six months ended June 30 2018 2017 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates $ 45 $ 46 Income taxes paid (including refundable credits) 36 21 Hawaiian Electric consolidated Interest paid to non-affiliates 32 36 Income taxes paid (including refundable credits) 35 8 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 5 2 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 42 38 Loans transferred from held for investment to held for sale (investing) 1 9 Common stock issued (gross) for director and executive/management compensation (financing) 1 4 11 Obligations to fund low income housing investments (investing) 6 — Transfer of retail repurchase agreements to deposit liabilities (financing) 102 — Unsettled trades to purchase investment securities (investing) 10 — Hawaiian Electric consolidated Electric utility property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 5 2 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 28 36 1 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Fair value measurements (Tables

Fair value measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of estimated fair values of certain of the Company's financial instruments	The following table presents the carrying or notional amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments. For stock in Federal Home Loan Bank, the carrying amount is a reasonable estimate of fair value because it can only be redeemed at par. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings and money market deposits, the carrying amount is a reasonable estimate of fair value as these liabilities have no stated maturity. Estimated fair value Carrying or notional amount Quoted prices in active markets for identical assets Significant other observable inputs Significant unobservable inputs (in thousands) (Level 1) (Level 2) (Level 3) Total June 30, 2018 Financial assets HEI consolidated Available-for-sale investment securities $ 1,409,528 $ — $ 1,394,101 $ 15,427 $ 1,409,528 Held-to-maturity investment securities 62,630 — 61,444 — 61,444 Stock in Federal Home Loan Bank 10,158 — 10,158 — 10,158 Loans, net 4,727,189 — 5,250 4,774,079 4,779,329 Mortgage servicing rights 8,509 — — 13,423 13,423 Derivative assets 24,537 — 250 — 250 Financial liabilities HEI consolidated Deposit liabilities 1 757,265 — 745,295 — 745,295 Short-term borrowings—other than bank 202,857 — 202,857 — 202,857 Other bank borrowings 126,930 — 126,904 — 126,904 Long-term debt, net—other than bank 1,783,009 — 1,816,310 — 1,816,310 Derivative liabilities 25,445 56 114 — 170 Hawaiian Electric consolidated Short-term borrowings 91,880 — 91,880 — 91,880 Long-term debt, net 1,468,457 — 1,511,103 — 1,511,103 Derivative liabilities-window forward contracts 3,117 — 106 — 106 December 31, 2017 Financial assets HEI consolidated Available-for-sale investment securities 1,401,198 — 1,385,771 15,427 1,401,198 Held-to-maturity investment securities 44,515 — 44,412 — 44,412 Stock in Federal Home Loan Bank 9,706 — 9,706 — 9,706 Loans, net 4,628,381 — 11,254 4,770,497 4,781,751 Mortgage servicing rights 8,639 — — 12,052 12,052 Derivative assets 17,812 — 393 — 393 Hawaiian Electric consolidated Derivative assets-window forward contracts 3,240 — 256 — 256 Financial liabilities HEI consolidated Deposit liabilities 1 5,890,597 — 5,884,071 — 5,884,071 Short-term borrowings—other than bank 117,945 — 117,945 — 117,945 Other bank borrowings 190,859 — 190,829 — 190,829 Long-term debt, net—other than bank 1,683,797 — 1,813,295 — 1,813,295 Derivative liabilities 13,562 20 10 — 30 Hawaiian Electric consolidated Short-term borrowings 4,999 — 4,999 — 4,999 Long-term debt, net 1,368,479 — 1,497,079 — 1,497,079 1 Deposit liabilities as of December 31, 2017 include noninterest-bearing demand, interest-bearing demand, and savings and money market deposits, for which the carrying amount represents a reasonable estimate of fair value, as such liabilities have no stated maturity. The fair value of such financial liabilities are not included as of June 30, 2018 as a result of the Company’s adoption of ASU No. 2016-01.
Schedule of assets measured at fair value on a recurring basis	Assets and liabilities measured at fair value on a recurring basis were as follows: June 30, 2018 December 31, 2017 Fair value measurements using Fair value measurements using (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Available-for-sale investment securities (bank segment) Mortgage-related securities-FNMA, FHLMC and GNMA $ — $ 1,177,832 $ — $ — $ 1,201,473 $ — U.S. Treasury and federal agency obligations — 175,933 — — 184,298 — Corporate bonds — 40,336 — — — — Mortgage revenue bond — — 15,427 — — 15,427 $ — $ 1,394,101 $ 15,427 $ — $ 1,385,771 $ 15,427 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 248 $ — $ — $ 133 $ — Forward commitments (bank segment) 1 — 2 — — 4 — Window forward contracts (electric utility segment) 2 — — — — 256 — $ — $ 250 $ — $ — $ 393 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ — $ — $ — $ 2 $ — Forward commitments (bank segment) 1 56 8 — 20 8 — Window forward contracts (electric utility segment) 2 — 106 — — — — $ 56 $ 114 $ — $ 20 $ 10 $ — 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. 2 Derivatives are included in regulatory assets and/or liabilities in the balance sheets.
Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis	The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: Three months ended June 30 Six months ended June 30 Mortgage revenue bond 2018 2017 2018 2017 (in thousands) Beginning balance $ 15,427 $ 15,427 $ 15,427 $ 15,427 Principal payments received — — — — Purchases — — — — Unrealized gain (loss) included in other comprehensive income — — — — Ending balance $ 15,427 $ 15,427 $ 15,427 $ 15,427
Schedule of assets measured at fair value on a nonrecurring basis	The carrying value of assets measured at fair value on a nonrecurring basis were as follows: Fair value measurements (in thousands) Balance Level 1 Level 2 Level 3 June 30, 2018 Loans $ 232 $ — $ — $ 232 December 31, 2017 Loans 2,621 — — 2,621
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 used in the impairment analysis were as follows: (dollars in thousands) June 30, 2018 December 31, 2017 Unpaid principal balance $ 1,192,901 $ 1,195,454 Weighted average note rate 3.96 % 3.94 % Weighted average discount rate 10.0 % 10.0 % Weighted average prepayment speed 6.8 % 9.0 % The following table summarizes the assumptions used to determine the fair value of the LTIP awards linked to TSR and the resulting fair value of LTIP awards granted: 2018 2017 Risk-free interest rate 2.29 % 1.46 % Expected life in years 3 3 Expected volatility 17.0 % 20.1 % Range of expected volatility for Peer Group 15.1% to 26.2% 15.4% to 26.0% Grant date fair value (per share) $38.20 $39.51 The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis: Significant unobservable input value (1) ($ in thousands) Fair value Valuation technique Significant unobservable input Range Weighted Average June 30, 2018 Residential loans $ 232 Fair value of collateral Appraised value less 7% selling cost 62-69% 68% Total loans $ 232 December 31, 2017 Residential loans $ 613 Fair value of collateral Appraised value less 7% selling cost 71-92% 84% Commercial loans 2,008 Fair value of collateral Appraised value 71-76% 75% Total loans $ 2,621 (1) Represent percent of outstanding principal balance.

Basis of presentation (Details)

Basis of presentation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses	$ 606,478	$ 554,479	$ 1,180,463	$ 1,076,303
Operating income	78,799	77,802	150,688	147,540
Less: Retirement defined benefits expense—other than service costs	(1,564)	(1,906)	(3,397)	(3,782)
Increase in accounts, interest and dividends payable			31,784	43,530
Net cash provided by operating activities			108,271	174,102
Capital expenditures			(259,898)	(210,325)
Net cash used in investing activities			(391,420)	(387,521)
Hawaiian Electric Company, Inc. and Subsidiaries
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses	552,982	500,393	1,072,040	968,643
Operating income	55,144	56,482	106,513	106,843
Less: Retirement defined benefits expense—other than service costs	(988)	(1,435)	(2,252)	(2,858)
Other operation and maintenance	112,642	104,939	220,252	203,756
Net cash provided by operating activities			69,836	138,755
Capital expenditures			(213,220)	(190,159)
Net cash used in investing activities			(195,346)	(166,338)
Increase in accounts payable			18,284	39,716
Hawaiian Electric (parent only)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		356,273		688,176
Operating income		38,141		69,081
Less: Retirement defined benefits expense—other than service costs		(1,302)		(2,587)
Other operation and maintenance		69,659		135,652
Hawaii Electric Light Company, Inc. (HELCO)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		72,988		141,568
Operating income		8,722		19,124
Less: Retirement defined benefits expense—other than service costs		85		168
Other operation and maintenance		17,643		33,242
Maui Electric
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		71,132		138,899
Operating income		9,633		18,659
Less: Retirement defined benefits expense—other than service costs		(218)		(439)
Other operation and maintenance		17,637		34,862
American Savings Bank (ASB)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses	50,187	50,332	100,719	98,833
Operating income	26,917	24,997	51,804	49,352
Less: Retirement defined benefits expense—other than service costs	403	201	790	396
Compensation and employee benefits	23,655	24,541	48,095	47,583
Other expense	4,556	4,906	8,657	9,412
Electric utility
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses	552,982	500,393	1,072,040	968,643
Operating income	55,144	56,482	106,513	106,843
Bank
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses	50,187	50,332	100,719	98,833
Operating income	26,917	24,997	51,804	49,352
Other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses	3,309	3,754	7,704	8,827
Operating income	$ (3,262)	(3,677)	$ (7,629)	(8,655)
As previously filed
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		556,385		1,080,085
Operating income		75,896		143,758
Less: Retirement defined benefits expense—other than service costs		0		0
As previously filed | Hawaiian Electric Company, Inc. and Subsidiaries
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		501,828		971,501
Operating income		55,047		103,985
Less: Retirement defined benefits expense—other than service costs		0		0
Other operation and maintenance		106,374		206,614
As previously filed | Hawaiian Electric (parent only)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		357,575		690,763
Operating income		36,839		66,494
Less: Retirement defined benefits expense—other than service costs		0		0
Other operation and maintenance		70,961		138,239
As previously filed | Hawaii Electric Light Company, Inc. (HELCO)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		72,903		141,400
Operating income		8,807		19,292
Less: Retirement defined benefits expense—other than service costs		0		0
Other operation and maintenance		17,558		33,074
As previously filed | Maui Electric
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		71,350		139,338
Operating income		9,415		18,220
Less: Retirement defined benefits expense—other than service costs		0		0
Other operation and maintenance		17,855		35,301
As previously filed | American Savings Bank (ASB)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Compensation and employee benefits		24,742		47,979
Other expense		4,705		9,016
As previously filed | Electric utility
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		501,828		971,501
Operating income		55,047		103,985
As previously filed | Bank
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		50,533		99,229
Operating income		24,796		48,956
As previously filed | Other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		4,024		9,355
Operating income		(3,947)		(9,183)
Adjustment | Hawaiian Electric (parent only)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in accounts, interest and dividends payable				(11,921)
Net cash provided by operating activities				(11,921)
Capital expenditures				11,921
Net cash used in investing activities				11,921
Increase in accounts payable				(11,921)
Adjustment | ASU 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(1,906)		(3,782)
Operating income		1,906		3,782
Less: Retirement defined benefits expense—other than service costs		(1,906)		(3,782)
Adjustment | ASU 2017-07 | Hawaiian Electric Company, Inc. and Subsidiaries
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(1,435)		(2,858)
Operating income		1,435		2,858
Less: Retirement defined benefits expense—other than service costs		(1,435)		(2,858)
Other operation and maintenance		(1,435)		(2,858)
Adjustment | ASU 2017-07 | Hawaiian Electric (parent only)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(1,302)		(2,587)
Operating income		1,302		2,587
Less: Retirement defined benefits expense—other than service costs		(1,302)		(2,587)
Other operation and maintenance		(1,302)		(2,587)
Adjustment | ASU 2017-07 | Hawaii Electric Light Company, Inc. (HELCO)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		85		168
Operating income		(85)		(168)
Less: Retirement defined benefits expense—other than service costs		85		168
Other operation and maintenance		85		168
Adjustment | ASU 2017-07 | Maui Electric
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(218)		(439)
Operating income		218		439
Less: Retirement defined benefits expense—other than service costs		(218)		(439)
Other operation and maintenance		(218)		(439)
Adjustment | ASU 2017-07 | American Savings Bank (ASB)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Compensation and employee benefits		(201)		(396)
Other expense		201		396
Adjustment | ASU 2017-07 | Electric utility
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(1,435)		(2,858)
Operating income		1,435		2,858
Adjustment | ASU 2017-07 | Bank
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(201)		(396)
Operating income		201		396
Adjustment | ASU 2017-07 | Other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(270)		(528)
Operating income		$ 270		$ 528

Segment financial information34

Segment financial information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Segment financial information
Total revenues	$ 685,277	$ 632,281	$ 1,331,151	$ 1,223,843
Income (loss) before income taxes	59,582	59,626	112,858	111,208
Income taxes (benefit)	13,055	20,492	25,611	37,408
Net income	46,527	39,134	87,247	73,800
Preferred stock dividends of subsidiaries	473	473	946	946
Net income for common stock	46,054	38,661	86,301	72,854
Total assets	12,884,104		12,884,104		$ 12,534,160
Hawaiian Electric Company, Inc. and Subsidiaries
Segment financial information
Total revenues	608,126	556,875	1,178,553	1,075,486
Income (loss) before income taxes	40,344	41,003	77,493	75,725
Income taxes (benefit)	8,676	14,860	17,851	27,618
Net income	31,668	26,143	59,642	48,107
Preferred stock dividends of subsidiaries	229	229	458	458
Net income for common stock	31,169	25,644	58,644	47,109
Total assets	5,803,714		5,803,714		5,630,613
American Savings Bank (ASB)
Segment financial information
Total revenues	77,104	75,329	152,523	148,185
Income (loss) before income taxes	26,514	24,796	51,014	48,956
Income taxes (benefit)	5,953	8,063	11,493	16,410
Net income	20,561	16,733	39,521	32,546
Net income for common stock	20,561	16,733	39,521	32,546
Total assets	6,983,583		6,983,583		6,798,659
Revenues from external customers
Segment financial information
Total revenues	685,277	632,281	1,331,151	1,223,843
Intersegment revenues (eliminations)
Segment financial information
Total revenues	0	0	0	0
Electric utility
Segment financial information
Total revenues	608,126	556,875	1,178,553	1,075,486
Income (loss) before income taxes	40,344	41,003	77,493	75,725
Income taxes (benefit)	8,676	14,860	17,851	27,618
Net income	31,668	26,143	59,642	48,107
Preferred stock dividends of subsidiaries	499	499	998	998
Net income for common stock	31,169	25,644	58,644	47,109
Total assets	5,803,714		5,803,714		5,630,613
Electric utility | Revenues from external customers
Segment financial information
Total revenues	608,112	556,836	1,178,526	1,075,402
Electric utility | Intersegment revenues (eliminations)
Segment financial information
Total revenues	14	39	27	84
Bank
Segment financial information
Total revenues	77,104	75,329	152,523	148,185
Income (loss) before income taxes	26,514	24,796	51,014	48,956
Income taxes (benefit)	5,953	8,063	11,493	16,410
Net income	20,561	16,733	39,521	32,546
Preferred stock dividends of subsidiaries	0	0	0	0
Net income for common stock	20,561	16,733	39,521	32,546
Total assets	6,983,583		6,983,583		6,798,659
Bank | Revenues from external customers
Segment financial information
Total revenues	77,104	75,329	152,523	148,185
Bank | Intersegment revenues (eliminations)
Segment financial information
Total revenues	0	0	0	0
Other
Segment financial information
Total revenues	47	77	75	172
Income (loss) before income taxes	(7,276)	(6,173)	(15,649)	(13,473)
Income taxes (benefit)	(1,574)	(2,431)	(3,733)	(6,620)
Net income	(5,702)	(3,742)	(11,916)	(6,853)
Preferred stock dividends of subsidiaries	(26)	(26)	(52)	(52)
Net income for common stock	(5,676)	(3,716)	(11,864)	(6,801)
Total assets	96,807		96,807		$ 104,888
Other | Revenues from external customers
Segment financial information
Total revenues	61	116	102	256
Other | Intersegment revenues (eliminations)
Segment financial information
Total revenues	$ (14)	$ (39)	$ (27)	$ (84)

Electric utility segment - Taxe

Electric utility segment - Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Hawaiian Electric Company, Inc. and Subsidiaries
Revenue taxes
Revenue taxes included in operating revenues and in taxes other than income taxes expense	$ 54	$ 50	$ 105	$ 96

Electric utility segment - Unco

Electric utility segment - Unconsolidated variable interest entities (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)agreemententity
Hawaiian Electric Company
Power purchase agreement
Number of power purchase agreements (PPAs) (in agreements) | agreement	5
Number of entities currently required to be consolidated as VIEs (in entities) | entity	0
Number of IPPs | entity	3
Number of firm capacity producers declining to provide financial information to determine primary beneficiary status (in entities) | entity	2
Minimum potential number of IPP entities consolidated into company in the future (in entities) | entity	1
Variable Interest Entity, Not Primary Beneficiary
Unconsolidated variable interest entities
Investment in 2004 Debentures	$ 51,500
Interest income	$ 1,700
Variable Interest Entity, Not Primary Beneficiary | Hawaiian Electric Company
Unconsolidated variable interest entities
Percent of ownership in Trust III (as a percent)	100.00%
Variable Interest Entity, Not Primary Beneficiary | Hawaiian Electric Company | 2004 Trust Preferred Securities
Unconsolidated variable interest entities
Balance of Trust Securities	$ 50,000
Dividend distributions on Trust Preferred Securities	1,600
Variable Interest Entity, Not Primary Beneficiary | Hawaiian Electric Company | Trust Common Securities
Unconsolidated variable interest entities
Balance of Trust Securities	1,500
Common dividend	$ 50

Electric utility segment - Powe

Electric utility segment - Power purchase agreements (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	$ 161	$ 153	$ 301	$ 280
Hawaiian Electric (parent only) | Kalaeloa Partners, L.P. (Kalaeloa)
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	52	48	92	88
Hawaiian Electric (parent only) | AES Hawaii
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	32	35	69	64
Hawaiian Electric (parent only) | HPOWER
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	17	16	32	33
Hawaiian Electric (parent only) | Puna Geothermal Venture
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	4	10	15	18
Hawaiian Electric (parent only) | Hamakua Energy Partners, L.P. (HEP)
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	15	10	22	17
Hawaiian Electric (parent only) | Other IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	$ 41	$ 34	$ 71	$ 60

Electric utility segment - Comm

Electric utility segment - Commitments and contingencies (Details)	Jun. 22, 2018USD ($)	Jun. 15, 2018USD ($)	Jun. 14, 2018	Jun. 07, 2018USD ($)	May 01, 2018USD ($)	Feb. 16, 2018USD ($)	Oct. 12, 2017USD ($)	Aug. 21, 2017USD ($)	Apr. 27, 2017USD ($)	Aug. 11, 2016USD ($)	May 23, 2016	Jan. 05, 2016USD ($)	Aug. 31, 2017	Jun. 30, 2017USD ($)$ / kWh	Jul. 31, 2016MW	Sep. 30, 2015USD ($)	Jun. 30, 2015MW	Aug. 31, 2012MW	May 31, 2012MW	Mar. 31, 1988MW	Jun. 30, 2018USD ($)$ / kWh	Dec. 31, 2017USD ($)	Dec. 31, 1988MW	Jun. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Feb. 26, 2018USD ($)	Dec. 18, 2017USD ($)
Regulatory Projects and Legal Obligations [Line Items]
Power purchase agreement, termination period											60 days
ERP/EAM cost recovery cap										$ 77,600,000
Public utility, ERP/EAM required pass through savings to customers										$ 244,000,000																		$ 244,000,000
ERP/EAM project service period (in years)										12 years
AFUDC rate										1.75%
ERP/EAM implementation project costs																								$ 61,200,000
ERP/EAM implementation project, operations and management																								10,600,000
ERP/EAM implementation project, capital costs																								2,600,000
ERP/EAM implementation project, deferred costs																								48,000,000
Schofield generating station facility capacity (in megawatts) | MW																		50
Schofield generating station project, budgetary cap												$ 157,300,000				$ 167,000,000
Percent of costs recoverable through recovery mechanisms other than base rates																90.00%
Decrease in project costs												$ 9,700,000
Project lease term (in years)												35 years
Annualized operation and maintenance expense				$ 1,800,000
Project cost incurred																										$ 141,500,000
West Lock PV Project, energy generated (in megawatts) | MW															20
West Lock PV Project, cost cap														$ 67,000,000
West Lock PV Project, maximum energy cost (in dollars per kilowatt hours) | $ / kWh														0.0956
West Lock PV Project, project costs incurred																									$ 9,100,000
Accounts receivable and unbilled revenues, net																					$ 299,771,000	$ 263,209,000		299,771,000	299,771,000	299,771,000
Environmental regulation
Threshold of capital expenditures in excess of customer contributions for qualification for major project interim recovery									$ 2,500,000
MPIR requested amount									$ 6,600,000
Decoupling order, service reliability performance, historical measurement period (in years)																					10 years
Maximum penalty as a percent of equity																					0.20%
Service reliability, maximum penalty																					$ 6,200,000
Service reliability, pending adjusted maximum penalty amount																					$ 6,700,000
Dead band percentage above or below the target																					3.00%
Call center performance, maximum penalty, percent																					0.08%
Call center performance, maximum penalty																					$ 1,200,000
Call center performance, pending adjusted maximum penalty																					$ 1,300,000
Demand response, award percentage of annual maintenance costs																					5.00%
Demand response, maximum award																					$ 500,000
Demand response, penalty																					$ 0
Expected savings, percent																					20.00%
Energy price, renewable projects with storage capacity (in dollars per kilowatt hour) | $ / kWh																					0.115
Energy price, energy-only renewable projects (in dollars per kilowatt hour) | $ / kWh																					0.095
Performance incentive mechanism, incentive cap																					$ 3,500,000
Performance incentive mechanism penalty																					0
Interim rate increases						$ 36,000,000
Rate increase before tax act impact	$ 37,700,000
Tax act impact on rate, amount	$ 38,300,000
General rate increase, revenue, calculation assumptions, rate of return, ROACE	9.50%
General rate increase, revenue, calculation assumptions, rate of return	7.57%
Risk sharing percentage, ratepayer	98.00%
Risk sharing percentage, utility	2.00%
Maximum exposure cap	$ 2,500,000
PCB Contamination
Environmental regulation
Valuation allowances and reserves																					4,700,000			4,700,000	4,700,000	4,700,000
AES Hawaii
Regulatory Projects and Legal Obligations [Line Items]
Purchase commitment, period (in years)																				30 years
Minimum power volume required (in megawatts) | MW																		186		180
Additional capacity requirement (in megawatts) | MW																	9
Hu Honua Bioenergy, LLC
Regulatory Projects and Legal Obligations [Line Items]
Minimum power volume required (in megawatts) | MW																			21.5
Hawaiian Telcom
Regulatory Projects and Legal Obligations [Line Items]
Accounts receivable and unbilled revenues, net																					17,400,000			17,400,000	17,400,000	17,400,000
Hawaiian Electric (parent only)
Environmental regulation
Decoupling filing, change in income taxes																						0
Hawaiian Electric (parent only) | Hawaiian Telcom
Regulatory Projects and Legal Obligations [Line Items]
Accounts receivable and unbilled revenues, net																					11,600,000			11,600,000	11,600,000	11,600,000
Hawaiian Telcom
Regulatory Projects and Legal Obligations [Line Items]
Accounts receivable and unbilled revenues, net																					48,000,000			48,000,000	48,000,000	48,000,000
Hawaii Electric Light Company, Inc. (HELCO)
Environmental regulation
Decoupling filing, change in income taxes																						0
Interim rate increases					$ (9,900,000)
Interim general rate increase granted								$ 9,900,000
Stipulated ROACE rate													9.50%
Hawaii Electric Light Company, Inc. (HELCO) | Hawaiian Telcom
Regulatory Projects and Legal Obligations [Line Items]
Accounts receivable and unbilled revenues, net																					4,700,000			4,700,000	4,700,000	4,700,000
Maui Electric
Environmental regulation
Additional accrued investigation and estimated cleanup costs																					2,700,000			2,700,000	2,700,000	2,700,000
Decoupling filing, change in income taxes																						$ 2,800,000
General rate increase, revenue, calculation assumptions, rate of return, ROACE							10.60%
General rate increase, revenue, calculation assumptions, rate of return		7.43%					8.05%
General rate increase, revenue		$ 12,500,000					$ 30,100,000
General rate increase, revenue, percent		1.95%					9.30%
General rate increase, revenue, calculation assumptions, rate of return, common equity capitalization percentage		57.00%					56.90%
General rate increase, revenue, calculation assumptions, rate base		$ 465,000,000					$ 473,000,000
Rate case, income tax expense reduction																											$ 8,100,000
Rate case, annual amortization credit																											500,000
Rate case, increase in rate base resulting from decrease in accumulated deferred income tax																											$ 7,100,000
Decrease of ROACE rate		0.25%
Interim general rate increase granted		$ 6,400,000
Stipulated ROACE rate		9.50%	9.75%
Maui Electric | Hawaiian Telcom
Regulatory Projects and Legal Obligations [Line Items]
Accounts receivable and unbilled revenues, net																					$ 1,100,000			$ 1,100,000	$ 1,100,000	$ 1,100,000
Kalaeloa Partners, L.P. (Kalaeloa) | Hawaiian Electric (parent only)
Regulatory Projects and Legal Obligations [Line Items]
Increased power purchase commitment capacity (in megawatts) | MW																							208

Electric utility segment - Annu

Electric utility segment - Annual decoupling filings summary (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)
Hawaiian Electric (parent only)
Regulatory Projects and Legal Obligations [Line Items]
2018 Annual incremental RAM adjusted revenues	$ 13.8
Annual change in accrued RBA balance as of December 31, 2017 (and associated revenue taxes)	6.6
2017 Tax Act Adjustment	0
Net annual incremental amount to be collected under the tariffs	20.4
HELCO
Regulatory Projects and Legal Obligations [Line Items]
2018 Annual incremental RAM adjusted revenues	3.4
Annual change in accrued RBA balance as of December 31, 2017 (and associated revenue taxes)	0.7
2017 Tax Act Adjustment	0
Net annual incremental amount to be collected under the tariffs	4.1
Maui Electric
Regulatory Projects and Legal Obligations [Line Items]
2018 Annual incremental RAM adjusted revenues	2
Annual change in accrued RBA balance as of December 31, 2017 (and associated revenue taxes)	3.2
2017 Tax Act Adjustment	(2.8)
Net annual incremental amount to be collected under the tariffs	$ 2.4

Electric utility segment - Cond

Electric utility segment - Condensed consolidating statement of income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Condensed Income Statements, Captions [Line Items]
Revenues	$ 685,277	$ 632,281	$ 1,331,151	$ 1,223,843
Expenses
Purchased power	161,000	153,000	301,000	280,000
Total expenses	606,478	554,479	1,180,463	1,076,303
Total operating income	78,799	77,802	150,688	147,540
Allowance for equity funds used during construction	2,983	3,027	6,277	5,426
Less: Retirement defined benefits expense—other than service costs	(1,564)	(1,906)	(3,397)	(3,782)
Allowance for borrowed funds used during construction	1,365	1,143	2,809	2,032
Income before income taxes	59,582	59,626	112,858	111,208
Income taxes	13,055	20,492	25,611	37,408
Net income	46,527	39,134	87,247	73,800
Preferred stock dividends of subsidiaries	473	473	946	946
Net income for common stock	46,054	38,661	86,301	72,854
Consolidating adjustments
Condensed Income Statements, Captions [Line Items]
Revenues	(59)	(14)	(101)	(21)
Expenses
Fuel oil	0	0	0	0
Purchased power	0	0	0	0
Other operation and maintenance	0	0	0	0
Depreciation	0	0	0	0
Taxes, other than income taxes	0	0	0	0
Total expenses	0	0	0	0
Total operating income	(59)	(14)	(101)	(21)
Allowance for equity funds used during construction	0	0	0	0
Equity in earnings of subsidiaries	(9,080)	(7,936)	(18,405)	(16,539)
Less: Retirement defined benefits expense—other than service costs	0	0	0	0
Interest expense and other charges, net	59	14	101	21
Allowance for borrowed funds used during construction	0	0	0	0
Income before income taxes	(9,080)	(7,936)	(18,405)	(16,539)
Income taxes	0	0	0	0
Net income	(9,080)	(7,936)	(18,405)	(16,539)
Preferred stock dividends of subsidiaries	0	0	0	0
Net income attributable to Hawaiian Electric	(9,080)	(7,936)	(18,405)	(16,539)
Preferred stock dividends of Hawaiian Electric	0	0	0	0
Net income for common stock	(9,080)	(7,936)	(18,405)	(16,539)
Hawaiian Electric (parent only)
Expenses
Other operation and maintenance		69,659		135,652
Total expenses		356,273		688,176
Total operating income		38,141		69,081
Less: Retirement defined benefits expense—other than service costs		(1,302)		(2,587)
Hawaiian Electric (parent only) | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	431,699	394,414	832,879	757,257
Expenses
Fuel oil	120,007	99,814	234,505	197,815
Purchased power	121,812	116,458	229,182	216,605
Other operation and maintenance	76,845	69,659	149,785	135,652
Depreciation	34,391	32,723	68,830	65,445
Taxes, other than income taxes	40,951	37,619	79,118	72,659
Total expenses	394,006	356,273	761,420	688,176
Total operating income	37,693	38,141	71,459	69,081
Allowance for equity funds used during construction	2,588	2,659	5,475	4,715
Equity in earnings of subsidiaries	9,080	7,936	18,405	16,539
Less: Retirement defined benefits expense—other than service costs	(554)	(1,302)	(1,616)	(2,587)
Interest expense and other charges, net	(12,930)	(12,562)	(25,425)	(24,619)
Allowance for borrowed funds used during construction	1,150	988	2,388	1,737
Income before income taxes	37,027	35,860	70,686	64,866
Income taxes	5,588	9,946	11,502	17,217
Net income	31,439	25,914	59,184	47,649
Preferred stock dividends of subsidiaries	0	0	0	0
Net income attributable to Hawaiian Electric	31,439	25,914	59,184	47,649
Preferred stock dividends of Hawaiian Electric	270	270	540	540
Net income for common stock	31,169	25,644	58,644	47,109
HELCO
Expenses
Other operation and maintenance		17,643		33,242
Total expenses		72,988		141,568
Total operating income		8,722		19,124
Less: Retirement defined benefits expense—other than service costs		85		168
HELCO | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	89,548	81,710	177,481	160,692
Expenses
Fuel oil	19,432	14,475	37,919	31,732
Purchased power	24,664	23,482	48,498	42,071
Other operation and maintenance	19,015	17,643	35,113	33,242
Depreciation	10,038	9,686	20,093	19,371
Taxes, other than income taxes	8,408	7,702	16,620	15,152
Total expenses	81,557	72,988	158,243	141,568
Total operating income	7,991	8,722	19,238	19,124
Allowance for equity funds used during construction	124	134	235	249
Equity in earnings of subsidiaries	0	0	0	0
Less: Retirement defined benefits expense—other than service costs	(105)	85	(208)	168
Interest expense and other charges, net	(2,922)	(2,996)	(5,829)	(6,000)
Allowance for borrowed funds used during construction	77	55	141	100
Income before income taxes	5,165	6,000	13,577	13,641
Income taxes	1,269	2,235	3,446	5,158
Net income	3,896	3,765	10,131	8,483
Preferred stock dividends of subsidiaries	133	133	267	267
Net income attributable to Hawaiian Electric	3,763	3,632	9,864	8,216
Preferred stock dividends of Hawaiian Electric	0	0	0	0
Net income for common stock	3,763	3,632	9,864	8,216
Maui Electric
Expenses
Other operation and maintenance		17,637		34,862
Total expenses		71,132		138,899
Total operating income		9,633		18,659
Less: Retirement defined benefits expense—other than service costs		(218)		(439)
Maui Electric | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	86,938	80,765	168,294	157,558
Expenses
Fuel oil	32,278	26,970	66,261	55,982
Purchased power	14,262	13,127	22,968	21,515
Other operation and maintenance	16,782	17,637	35,354	34,862
Depreciation	5,932	5,747	11,904	11,556
Taxes, other than income taxes	8,165	7,651	15,890	14,984
Total expenses	77,419	71,132	152,377	138,899
Total operating income	9,519	9,633	15,917	18,659
Allowance for equity funds used during construction	271	234	567	462
Equity in earnings of subsidiaries	0	0	0	0
Less: Retirement defined benefits expense—other than service costs	(329)	(218)	(428)	(439)
Interest expense and other charges, net	(2,367)	(2,670)	(4,701)	(5,120)
Allowance for borrowed funds used during construction	138	100	280	195
Income before income taxes	7,232	7,079	11,635	13,757
Income taxes	1,819	2,679	2,903	5,243
Net income	5,413	4,400	8,732	8,514
Preferred stock dividends of subsidiaries	96	96	191	191
Net income attributable to Hawaiian Electric	5,317	4,304	8,541	8,323
Preferred stock dividends of Hawaiian Electric	0	0	0	0
Net income for common stock	5,317	4,304	8,541	8,323
Other subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	0	0	0	0
Expenses
Fuel oil	0	0	0	0
Purchased power	0	0	0	0
Other operation and maintenance	0	0	0	0
Depreciation	0	0	0	0
Taxes, other than income taxes	0	0	0	0
Total expenses	0	0	0	0
Total operating income	0	0	0	0
Allowance for equity funds used during construction	0	0	0	0
Equity in earnings of subsidiaries	0	0	0	0
Less: Retirement defined benefits expense—other than service costs	0	0	0	0
Interest expense and other charges, net	0	0	0	0
Allowance for borrowed funds used during construction	0	0	0	0
Income before income taxes	0	0	0	0
Income taxes	0	0	0	0
Net income	0	0	0	0
Preferred stock dividends of subsidiaries	0	0	0	0
Net income attributable to Hawaiian Electric	0	0	0	0
Preferred stock dividends of Hawaiian Electric	0	0	0	0
Net income for common stock	0	0	0	0
Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenues	608,126	556,875	1,178,553	1,075,486
Expenses
Fuel oil	171,717	141,259	338,685	285,529
Purchased power	160,738	153,067	300,648	280,191
Other operation and maintenance	112,642	104,939	220,252	203,756
Depreciation	50,361	48,156	100,827	96,372
Taxes, other than income taxes	57,524	52,972	111,628	102,795
Total expenses	552,982	500,393	1,072,040	968,643
Total operating income	55,144	56,482	106,513	106,843
Allowance for equity funds used during construction	2,983	3,027	6,277	5,426
Equity in earnings of subsidiaries	0	0	0	0
Less: Retirement defined benefits expense—other than service costs	(988)	(1,435)	(2,252)	(2,858)
Interest expense and other charges, net	(18,160)	(18,214)	(35,854)	(35,718)
Allowance for borrowed funds used during construction	1,365	1,143	2,809	2,032
Income before income taxes	40,344	41,003	77,493	75,725
Income taxes	8,676	14,860	17,851	27,618
Net income	31,668	26,143	59,642	48,107
Preferred stock dividends of subsidiaries	229	229	458	458
Net income attributable to Hawaiian Electric	31,439	25,914	59,184	47,649
Preferred stock dividends of Hawaiian Electric	270	270	540	540
Net income for common stock	$ 31,169	$ 25,644	$ 58,644	$ 47,109

Electric utility segment - Co41

Electric utility segment - Condensed consolidating statement of comprehensive income (loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Condensed Statement of Income Captions [Line Items]
Net income for common stock	$ 46,054	$ 38,661	$ 86,301	$ 72,854
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits	0	0	0	454
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	5,350	3,930	10,496	7,851
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,827)	(3,581)	(9,449)	(7,194)
Other comprehensive income (loss), net of taxes	(3,825)	2,370	(16,598)	3,355
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	42,229	41,031	69,703	76,209
Consolidating adjustments
Condensed Statement of Income Captions [Line Items]
Net income for common stock	(9,080)	(7,936)	(18,405)	(16,539)
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits				0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	(1,383)	(793)	(2,620)	(1,762)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	1,382	791	2,619	1,761
Other comprehensive income (loss), net of taxes	(1)	(2)	(1)	(1)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	(9,081)	(7,938)	(18,406)	(16,540)
Hawaiian Electric (parent only) | Reportable Legal Entities
Condensed Statement of Income Captions [Line Items]
Net income for common stock	31,169	25,644	58,644	47,109
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits				454
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	4,853	3,621	9,506	7,239
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,827)	(3,581)	(9,449)	(7,194)
Other comprehensive income (loss), net of taxes	26	40	57	499
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	31,195	25,684	58,701	47,608
HELCO | Reportable Legal Entities
Condensed Statement of Income Captions [Line Items]
Net income for common stock	3,763	3,632	9,864	8,216
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits				0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	734	449	1,409	952
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(733)	(448)	(1,408)	(951)
Other comprehensive income (loss), net of taxes	1	1	1	1
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	3,764	3,633	9,865	8,217
Maui Electric | Reportable Legal Entities
Condensed Statement of Income Captions [Line Items]
Net income for common stock	5,317	4,304	8,541	8,323
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits				0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	649	344	1,211	810
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(649)	(343)	(1,211)	(810)
Other comprehensive income (loss), net of taxes	0	1	0	0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	5,317	4,305	8,541	8,323
Other subsidiaries | Reportable Legal Entities
Condensed Statement of Income Captions [Line Items]
Net income for common stock	0	0	0	0
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits				0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	0	0	0	0
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	0	0	0	0
Other comprehensive income (loss), net of taxes	0	0	0	0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	0	0	0	0
Hawaiian Electric Company, Inc. and Subsidiaries
Condensed Statement of Income Captions [Line Items]
Net income for common stock	31,169	25,644	58,644	47,109
Derivatives qualifying as cash flow hedges:
Reclassification adjustment to net income, net of tax benefits	0	0	0	454
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits	4,853	3,621	9,506	7,239
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,827)	(3,581)	(9,449)	(7,194)
Other comprehensive income (loss), net of taxes	26	40	57	499
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 31,195	$ 25,684	$ 58,701	$ 47,608

Electric utility segment - Co42

Electric utility segment - Condensed consolidating balance sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Utility property, plant and equipment
Total property, plant and equipment, net	$ 4,611,949	$ 4,460,248
Current assets
Cash and cash equivalents	254,665	261,881	$ 210,381	$ 278,452
Other long-term assets
Total assets	12,884,104	12,534,160
Capitalization
Common stock equity	2,103,018	2,097,386	2,075,029	2,066,753
Cumulative preferred stock—not subject to mandatory redemption	0	0
Current liabilities
Interest and preferred dividends payable	27,594	25,837
Deferred credits and other liabilities
Deferred income taxes	375,832	388,430
Total liabilities and shareholders’ equity	12,884,104	12,534,160
Consolidating adjustments
Utility property, plant and equipment
Land	0	0
Plant and equipment	0	0
Less accumulated depreciation	0	0
Construction in progress	0	0
Utility property, plant and equipment, net	0	0
Nonutility property, plant and equipment, less accumulated depreciation	0	0
Total property, plant and equipment, net	0	0
Investment in wholly owned subsidiaries, at equity	(561,764)	(557,013)
Current assets
Cash and cash equivalents	0	0	0	0
Advances to affiliates	(6,600)	(12,000)
Customer accounts receivable, net	0	0
Accrued unbilled revenues, net	0	0
Other accounts receivable, net	(7,446)	(7,691)
Fuel oil stock, at average cost	0	0
Materials and supplies, at average cost	0	0
Prepayments and other	(1,514)	0
Regulatory assets	0	0
Total current assets	(15,560)	(19,691)
Other long-term assets
Regulatory assets	0	0
Other	0	0
Total other long-term assets	0	0
Total assets	(577,324)	(576,704)
Capitalization
Common stock equity	(561,764)	(557,013)	(553,764)	(550,946)
Cumulative preferred stock—not subject to mandatory redemption	0	0
Long-term debt, net	0	0
Total capitalization	(561,764)	(557,013)
Current liabilities
Current portion of long-term debt	0	0
Short-term borrowings from non-affiliates	0	0
Short-term borrowings from affiliate	(6,600)	(12,000)
Accounts payable	0	0
Interest and preferred dividends payable	(14)	(11)
Taxes accrued, including revenue taxes	(1,514)	0
Regulatory liabilities	0	0
Other	(7,432)	(7,680)
Total current liabilities	(15,560)	(19,691)
Deferred credits and other liabilities
Deferred income taxes	0	0
Regulatory liabilities	0	0
Unamortized tax credits	0	0
Defined benefit pension and other postretirement benefit plans liability	0	0
Other	0	0
Total deferred credits and other liabilities	0	0
Total liabilities and shareholders’ equity	(577,324)	(576,704)
Hawaiian Electric (parent only) | Reportable Legal Entities
Utility property, plant and equipment
Land	44,023	43,972
Plant and equipment	4,363,195	4,140,892
Less accumulated depreciation	(1,491,505)	(1,451,612)
Construction in progress	127,343	231,571
Utility property, plant and equipment, net	3,043,056	2,964,823
Nonutility property, plant and equipment, less accumulated depreciation	5,934	5,933
Total property, plant and equipment, net	3,048,990	2,970,756
Investment in wholly owned subsidiaries, at equity	561,764	557,013
Current assets
Cash and cash equivalents	13,922	2,059	29,988	61,388
Advances to affiliates	5,600	0
Customer accounts receivable, net	109,285	86,987
Accrued unbilled revenues, net	80,239	77,176
Other accounts receivable, net	10,657	11,376
Fuel oil stock, at average cost	74,485	64,972
Materials and supplies, at average cost	31,077	28,325
Prepayments and other	21,482	17,928
Regulatory assets	88,581	76,203
Total current assets	435,328	365,026
Other long-term assets
Regulatory assets	538,925	557,464
Other	71,486	60,157
Total other long-term assets	610,411	617,621
Total assets	4,656,493	4,510,416
Capitalization
Common stock equity	1,852,324	1,845,283	1,803,506	1,799,787
Cumulative preferred stock—not subject to mandatory redemption	22,293	22,293
Long-term debt, net	999,915	924,979
Total capitalization	2,874,532	2,792,555
Current liabilities
Current portion of long-term debt	29,990	29,978
Short-term borrowings from non-affiliates	91,880	4,999
Short-term borrowings from affiliate	1,000	12,000
Accounts payable	115,806	121,328
Interest and preferred dividends payable	15,743	15,677
Taxes accrued, including revenue taxes	120,513	133,839
Regulatory liabilities	2,751	607
Other	42,449	43,121
Total current liabilities	420,132	361,549
Deferred credits and other liabilities
Deferred income taxes	277,599	281,223
Regulatory liabilities	627,369	613,329
Unamortized tax credits	60,893	59,039
Defined benefit pension and other postretirement benefit plans liability	330,356	340,983
Other	65,612	61,738
Total deferred credits and other liabilities	1,361,829	1,356,312
Total liabilities and shareholders’ equity	4,656,493	4,510,416
HELCO | Reportable Legal Entities
Utility property, plant and equipment
Land	5,876	6,189
Plant and equipment	1,217,147	1,206,776
Less accumulated depreciation	(536,210)	(528,024)
Construction in progress	10,154	8,182
Utility property, plant and equipment, net	696,967	693,123
Nonutility property, plant and equipment, less accumulated depreciation	115	115
Total property, plant and equipment, net	697,082	693,238
Investment in wholly owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	4,516	4,025	7,104	10,749
Advances to affiliates	1,000	0
Customer accounts receivable, net	24,005	22,510
Accrued unbilled revenues, net	15,243	15,940
Other accounts receivable, net	2,561	2,268
Fuel oil stock, at average cost	12,632	8,698
Materials and supplies, at average cost	8,600	8,041
Prepayments and other	6,329	4,514
Regulatory assets	6,353	5,038
Total current assets	81,239	71,034
Other long-term assets
Regulatory assets	118,000	122,783
Other	19,378	16,311
Total other long-term assets	137,378	139,094
Total assets	915,699	903,366
Capitalization
Common stock equity	288,865	286,647	291,760	291,291
Cumulative preferred stock—not subject to mandatory redemption	7,000	7,000
Long-term debt, net	217,699	202,701
Total capitalization	513,564	496,348
Current liabilities
Current portion of long-term debt	10,996	10,992
Short-term borrowings from non-affiliates	0	0
Short-term borrowings from affiliate	0	0
Accounts payable	17,405	17,855
Interest and preferred dividends payable	4,203	4,174
Taxes accrued, including revenue taxes	27,353	34,950
Regulatory liabilities	2,499	1,245
Other	10,223	9,818
Total current liabilities	72,679	79,034
Deferred credits and other liabilities
Deferred income taxes	54,505	56,955
Regulatory liabilities	173,305	169,139
Unamortized tax credits	16,463	16,167
Defined benefit pension and other postretirement benefit plans liability	64,175	66,447
Other	21,008	19,276
Total deferred credits and other liabilities	329,456	327,984
Total liabilities and shareholders’ equity	915,699	903,366
Maui Electric | Reportable Legal Entities
Utility property, plant and equipment
Land	3,015	3,016
Plant and equipment	1,072,640	1,053,372
Less accumulated depreciation	(506,713)	(496,716)
Construction in progress	28,111	23,341
Utility property, plant and equipment, net	597,053	583,013
Nonutility property, plant and equipment, less accumulated depreciation	1,532	1,532
Total property, plant and equipment, net	598,585	584,545
Investment in wholly owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	2,321	6,332	5,389	2,048
Advances to affiliates	0	12,000
Customer accounts receivable, net	23,970	18,392
Accrued unbilled revenues, net	15,357	13,938
Other accounts receivable, net	1,124	1,210
Fuel oil stock, at average cost	19,899	13,203
Materials and supplies, at average cost	18,264	18,031
Prepayments and other	2,943	2,913
Regulatory assets	8,632	7,149
Total current assets	92,510	93,168
Other long-term assets
Regulatory assets	99,919	100,660
Other	17,731	15,061
Total other long-term assets	117,650	115,721
Total assets	808,745	793,434
Capitalization
Common stock equity	272,798	270,265	261,903	259,554
Cumulative preferred stock—not subject to mandatory redemption	5,000	5,000
Long-term debt, net	200,860	190,836
Total capitalization	478,658	466,101
Current liabilities
Current portion of long-term debt	8,997	8,993
Short-term borrowings from non-affiliates	0	0
Short-term borrowings from affiliate	5,600	0
Accounts payable	20,548	20,427
Interest and preferred dividends payable	2,752	2,735
Taxes accrued, including revenue taxes	25,711	30,312
Regulatory liabilities	4,537	1,549
Other	13,963	14,197
Total current liabilities	82,108	78,213
Deferred credits and other liabilities
Deferred income taxes	56,771	55,863
Regulatory liabilities	94,755	94,901
Unamortized tax credits	15,442	15,163
Defined benefit pension and other postretirement benefit plans liability	63,422	65,518
Other	17,589	17,675
Total deferred credits and other liabilities	247,979	249,120
Total liabilities and shareholders’ equity	808,745	793,434
Other subsidiaries | Reportable Legal Entities
Utility property, plant and equipment
Land	0	0
Plant and equipment	0	0
Less accumulated depreciation	0	0
Construction in progress	0	0
Utility property, plant and equipment, net	0	0
Nonutility property, plant and equipment, less accumulated depreciation	0	0
Total property, plant and equipment, net	0	0
Investment in wholly owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	101	101	101	101
Advances to affiliates	0	0
Customer accounts receivable, net	0	0
Accrued unbilled revenues, net	0	0
Other accounts receivable, net	0	0
Fuel oil stock, at average cost	0	0
Materials and supplies, at average cost	0	0
Prepayments and other	0	0
Regulatory assets	0	0
Total current assets	101	101
Other long-term assets
Regulatory assets	0	0
Other	0	0
Total other long-term assets	0	0
Total assets	101	101
Capitalization
Common stock equity	101	101	101	101
Cumulative preferred stock—not subject to mandatory redemption	0	0
Long-term debt, net	0	0
Total capitalization	101	101
Current liabilities
Current portion of long-term debt	0	0
Short-term borrowings from non-affiliates	0	0
Short-term borrowings from affiliate	0	0
Accounts payable	0	0
Interest and preferred dividends payable	0	0
Taxes accrued, including revenue taxes	0	0
Regulatory liabilities	0	0
Other	0	0
Total current liabilities	0	0
Deferred credits and other liabilities
Deferred income taxes	0	0
Regulatory liabilities	0	0
Unamortized tax credits	0	0
Defined benefit pension and other postretirement benefit plans liability	0	0
Other	0	0
Total deferred credits and other liabilities	0	0
Total liabilities and shareholders’ equity	101	101
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Land	52,914	53,177
Plant and equipment	6,652,982	6,401,040
Less accumulated depreciation	(2,534,428)	(2,476,352)
Construction in progress	165,608	263,094
Utility property, plant and equipment, net	4,337,076	4,240,959
Nonutility property, plant and equipment, less accumulated depreciation	7,581	7,580
Total property, plant and equipment, net	4,344,657	4,248,539
Investment in wholly owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	20,860	12,517	42,582	74,286
Advances to affiliates	0	0
Customer accounts receivable, net	157,260	127,889
Accrued unbilled revenues, net	110,839	107,054
Other accounts receivable, net	6,896	7,163
Fuel oil stock, at average cost	107,016	86,873
Materials and supplies, at average cost	57,941	54,397
Prepayments and other	29,240	25,355
Regulatory assets	103,566	88,390
Total current assets	593,618	509,638
Other long-term assets
Regulatory assets	756,844	780,907
Other	108,595	91,529
Total other long-term assets	865,439	872,436
Total assets	5,803,714	5,630,613
Capitalization
Common stock equity	1,852,324	1,845,283	$ 1,803,506	$ 1,799,787
Cumulative preferred stock—not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,418,474	1,318,516
Total capitalization	3,305,091	3,198,092
Current liabilities
Current portion of long-term debt	49,983	49,963
Short-term borrowings from non-affiliates	91,880	4,999
Short-term borrowings from affiliate	0	0
Accounts payable	153,759	159,610
Interest and preferred dividends payable	22,684	22,575
Taxes accrued, including revenue taxes	172,063	199,101
Regulatory liabilities	9,787	3,401
Other	59,203	59,456
Total current liabilities	559,359	499,105
Deferred credits and other liabilities
Deferred income taxes	388,875	394,041
Regulatory liabilities	895,429	877,369
Unamortized tax credits	92,798	90,369
Defined benefit pension and other postretirement benefit plans liability	457,953	472,948
Other	104,209	98,689
Total deferred credits and other liabilities	1,939,264	1,933,416
Total liabilities and shareholders’ equity	$ 5,803,714	$ 5,630,613

Electric utility segment - Co43

Electric utility segment - Condensed consolidating statement of changes in common stock equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Increase (decrease) in stockholders' equity
Beginning Balance			$ 2,097,386	$ 2,066,753
Net income for common stock	$ 46,054	$ 38,661	86,301	72,854
Other comprehensive income (loss), net of taxes	(3,825)	2,370	(16,598)	3,355
Common stock dividends			(67,481)	(67,426)
Ending Balance	2,103,018	2,075,029	2,103,018	2,075,029
Consolidating adjustments
Increase (decrease) in stockholders' equity
Beginning Balance			(557,013)	(550,946)
Net income for common stock	(9,080)	(7,936)	(18,405)	(16,539)
Other comprehensive income (loss), net of taxes	(1)	(2)	(1)	(1)
Common stock dividends			13,654	13,721
Common stock issuance expenses			1	1
Ending Balance	(561,764)	(553,764)	(561,764)	(553,764)
Hawaiian Electric (parent only) | Reportable Legal Entities
Increase (decrease) in stockholders' equity
Beginning Balance			1,845,283	1,799,787
Net income for common stock	31,169	25,644	58,644	47,109
Other comprehensive income (loss), net of taxes	26	40	57	499
Common stock dividends			(51,652)	(43,884)
Common stock issuance expenses			(8)	(5)
Ending Balance	1,852,324	1,803,506	1,852,324	1,803,506
HELCO | Reportable Legal Entities
Increase (decrease) in stockholders' equity
Beginning Balance			286,647	291,291
Net income for common stock	3,763	3,632	9,864	8,216
Other comprehensive income (loss), net of taxes	1	1	1	1
Common stock dividends			(7,644)	(7,748)
Common stock issuance expenses			(3)	0
Ending Balance	288,865	291,760	288,865	291,760
Maui Electric | Reportable Legal Entities
Increase (decrease) in stockholders' equity
Beginning Balance			270,265	259,554
Net income for common stock	5,317	4,304	8,541	8,323
Other comprehensive income (loss), net of taxes	0	1	0	0
Common stock dividends			(6,010)	(5,973)
Common stock issuance expenses			2	(1)
Ending Balance	272,798	261,903	272,798	261,903
Other subsidiaries | Reportable Legal Entities
Increase (decrease) in stockholders' equity
Beginning Balance			101	101
Net income for common stock	0	0	0	0
Other comprehensive income (loss), net of taxes	0	0	0	0
Common stock dividends			0	0
Common stock issuance expenses			0	0
Ending Balance	101	101	101	101
Hawaiian Electric Company, Inc. and Subsidiaries
Increase (decrease) in stockholders' equity
Beginning Balance			1,845,283	1,799,787
Net income for common stock	31,169	25,644	58,644	47,109
Other comprehensive income (loss), net of taxes	26	40	57	499
Common stock dividends			(51,652)	(43,884)
Common stock issuance expenses			(8)	(5)
Ending Balance	$ 1,852,324	$ 1,803,506	$ 1,852,324	$ 1,803,506

Electric utility segment - Co44

Electric utility segment - Condensed consolidating statement of cash flows (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities
Net income	$ 46,527	$ 39,134	$ 87,247	$ 73,800
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment			106,063	100,062
Other amortization			20,603	6,101
Deferred income taxes			(9,672)	17,047
Allowance for equity funds used during construction	(2,983)	(3,027)	(6,277)	(5,426)
Other			(147)	246
Changes in assets and liabilities
Increase in fuel oil stock			(19,867)	(5,962)
Increase in regulatory assets			(19,600)	8,179
Change in prepaid and accrued income taxes, tax credits and revenue taxes			(26,558)	(37,954)
Decrease in defined benefit pension and other postretirement benefit plans liability			(871)	420
Net cash provided by operating activities			108,271	174,102
Cash flows from investing activities
Capital expenditures			(259,898)	(210,325)
Contributions in aid of construction			13,573	17,571
Other			5,919	8,216
Net cash used in investing activities			(391,420)	(387,521)
Cash flows from financing activities
Common stock dividends			(67,481)	(67,426)
Proceeds from issuance of long-term debt			100,000	265,000
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds			(878)	(265,000)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less			84,881	49,789
Other			(230)	(3,253)
Net cash provided by financing activities			275,933	145,348
Net decrease in cash and cash equivalents			(7,216)	(68,071)
Cash and cash equivalents, beginning of period			261,881	278,452
Cash and cash equivalents, end of period	254,665	210,381	254,665	210,381
Consolidating adjustments
Cash flows from operating activities
Net income	(9,080)	(7,936)	(18,405)	(16,539)
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries			18,405	16,539
Common stock dividends received from subsidiaries			(13,654)	(13,721)
Depreciation of property, plant and equipment			0	0
Other amortization			0	0
Deferred income taxes			0	(39)
Allowance for equity funds used during construction	0	0	0	0
Other			0	0
Changes in assets and liabilities
Increase in accounts receivable			(245)	3,256
Decrease (increase) in accrued unbilled revenues			0	0
Increase in fuel oil stock			0	0
Increase in materials and supplies			0	0
Increase in regulatory assets			0	0
Increase in accounts payable			0	0
Change in prepaid and accrued income taxes, tax credits and revenue taxes			(601)	(465)
Decrease in defined benefit pension and other postretirement benefit plans liability			0	0
Change in other assets and liabilities			245	(3,256)
Net cash provided by operating activities			(14,255)	(14,225)
Cash flows from investing activities
Capital expenditures			0	0
Contributions in aid of construction			0	0
Other			601	504
Advances (to) from affiliates			(5,400)	(8,400)
Net cash used in investing activities			(4,799)	(7,896)
Cash flows from financing activities
Common stock dividends			13,654	13,721
Preferred stock dividends of Hawaiian Electric and subsidiaries			0	0
Proceeds from issuance of long-term debt			0
Proceeds from issuance of special purpose revenue bonds				0
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds				0
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less			5,400	8,400
Other			0	0
Net cash provided by financing activities			19,054	22,121
Net decrease in cash and cash equivalents			0	0
Cash and cash equivalents, beginning of period			0	0
Cash and cash equivalents, end of period	0	0	0	0
Hawaiian Electric (parent only) | Reportable Legal Entities
Cash flows from operating activities
Net income	31,439	25,914	59,184	47,649
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries			(18,455)	(16,589)
Common stock dividends received from subsidiaries			13,679	13,771
Depreciation of property, plant and equipment			68,830	65,445
Other amortization			9,200	1,875
Deferred income taxes			(6,708)	15,060
Allowance for equity funds used during construction	(2,588)	(2,659)	(5,475)	(4,715)
Other			1,469	1,089
Changes in assets and liabilities
Increase in accounts receivable			(25,673)	(5,100)
Decrease (increase) in accrued unbilled revenues			(3,063)	(8,819)
Increase in fuel oil stock			(9,513)	(4,250)
Increase in materials and supplies			(2,752)	(788)
Increase in regulatory assets			(14,728)	11,378
Increase in accounts payable			13,093	33,121
Change in prepaid and accrued income taxes, tax credits and revenue taxes			(15,343)	(29,430)
Decrease in defined benefit pension and other postretirement benefit plans liability			(1,117)	355
Change in other assets and liabilities			1,116	(12,727)
Net cash provided by operating activities			63,744	107,325
Cash flows from investing activities
Capital expenditures			(156,600)	(146,721)
Contributions in aid of construction			9,680	14,078
Other			2,241	4,820
Advances (to) from affiliates			(5,600)	0
Net cash used in investing activities			(150,279)	(127,823)
Cash flows from financing activities
Common stock dividends			(51,652)	(43,884)
Preferred stock dividends of Hawaiian Electric and subsidiaries			(540)	(540)
Proceeds from issuance of long-term debt			75,000
Proceeds from issuance of special purpose revenue bonds				162,000
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds				(162,000)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less			75,881	35,590
Other			(291)	(2,068)
Net cash provided by financing activities			98,398	(10,902)
Net decrease in cash and cash equivalents			11,863	(31,400)
Cash and cash equivalents, beginning of period			2,059	61,388
Cash and cash equivalents, end of period	13,922	29,988	13,922	29,988
HELCO | Reportable Legal Entities
Cash flows from operating activities
Net income	3,896	3,765	10,131	8,483
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries			0	0
Common stock dividends received from subsidiaries			0	0
Depreciation of property, plant and equipment			20,093	19,371
Other amortization			2,976	905
Deferred income taxes			(2,429)	3,590
Allowance for equity funds used during construction	(124)	(134)	(235)	(249)
Other			(322)	699
Changes in assets and liabilities
Increase in accounts receivable			(2,387)	1,182
Decrease (increase) in accrued unbilled revenues			697	(602)
Increase in fuel oil stock			(3,934)	94
Increase in materials and supplies			(559)	(1,472)
Increase in regulatory assets			(1,974)	(1,575)
Increase in accounts payable			3,096	970
Change in prepaid and accrued income taxes, tax credits and revenue taxes			(9,952)	(6,290)
Decrease in defined benefit pension and other postretirement benefit plans liability			(380)	26
Change in other assets and liabilities			3,173	129
Net cash provided by operating activities			17,994	25,261
Cash flows from investing activities
Capital expenditures			(26,667)	(22,423)
Contributions in aid of construction			2,243	1,870
Other			884	619
Advances (to) from affiliates			(1,000)	(600)
Net cash used in investing activities			(24,540)	(20,534)
Cash flows from financing activities
Common stock dividends			(7,644)	(7,748)
Preferred stock dividends of Hawaiian Electric and subsidiaries			(267)	(267)
Proceeds from issuance of long-term debt			15,000
Proceeds from issuance of special purpose revenue bonds				28,000
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds				(28,000)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less			0	0
Other			(52)	(357)
Net cash provided by financing activities			7,037	(8,372)
Net decrease in cash and cash equivalents			491	(3,645)
Cash and cash equivalents, beginning of period			4,025	10,749
Cash and cash equivalents, end of period	4,516	7,104	4,516	7,104
Maui Electric | Reportable Legal Entities
Cash flows from operating activities
Net income	5,413	4,400	8,732	8,514
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries			0	0
Common stock dividends received from subsidiaries			0	0
Depreciation of property, plant and equipment			11,904	11,556
Other amortization			845	1,482
Deferred income taxes			794	4,988
Allowance for equity funds used during construction	(271)	(234)	(567)	(462)
Other			(169)	(173)
Changes in assets and liabilities
Increase in accounts receivable			(5,763)	(1,067)
Decrease (increase) in accrued unbilled revenues			(1,419)	(2,482)
Increase in fuel oil stock			(6,696)	(1,806)
Increase in materials and supplies			(233)	(1,160)
Increase in regulatory assets			(2,898)	(1,624)
Increase in accounts payable			2,095	5,625
Change in prepaid and accrued income taxes, tax credits and revenue taxes			(5,165)	(4,725)
Decrease in defined benefit pension and other postretirement benefit plans liability			(464)	(79)
Change in other assets and liabilities			1,357	1,807
Net cash provided by operating activities			2,353	20,394
Cash flows from investing activities
Capital expenditures			(29,953)	(21,015)
Contributions in aid of construction			1,650	1,623
Other			575	307
Advances (to) from affiliates			12,000	9,000
Net cash used in investing activities			(15,728)	(10,085)
Cash flows from financing activities
Common stock dividends			(6,010)	(5,973)
Preferred stock dividends of Hawaiian Electric and subsidiaries			(191)	(191)
Proceeds from issuance of long-term debt			10,000
Proceeds from issuance of special purpose revenue bonds				75,000
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds				(75,000)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less			5,600	0
Other			(35)	(804)
Net cash provided by financing activities			9,364	(6,968)
Net decrease in cash and cash equivalents			(4,011)	3,341
Cash and cash equivalents, beginning of period			6,332	2,048
Cash and cash equivalents, end of period	2,321	5,389	2,321	5,389
Other subsidiaries | Reportable Legal Entities
Cash flows from operating activities
Net income	0	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries			0	0
Common stock dividends received from subsidiaries			0	0
Depreciation of property, plant and equipment			0	0
Other amortization			0	0
Deferred income taxes			0	0
Allowance for equity funds used during construction	0	0	0	0
Other			0	0
Changes in assets and liabilities
Increase in accounts receivable			0	0
Decrease (increase) in accrued unbilled revenues			0	0
Increase in fuel oil stock			0	0
Increase in materials and supplies			0	0
Increase in regulatory assets			0	0
Increase in accounts payable			0	0
Change in prepaid and accrued income taxes, tax credits and revenue taxes			0	0
Decrease in defined benefit pension and other postretirement benefit plans liability			0	0
Change in other assets and liabilities			0	0
Net cash provided by operating activities			0	0
Cash flows from investing activities
Capital expenditures			0	0
Contributions in aid of construction			0	0
Other			0	0
Advances (to) from affiliates			0	0
Net cash used in investing activities			0	0
Cash flows from financing activities
Common stock dividends			0	0
Preferred stock dividends of Hawaiian Electric and subsidiaries			0	0
Proceeds from issuance of long-term debt			0
Proceeds from issuance of special purpose revenue bonds				0
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds				0
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less			0	0
Other			0	0
Net cash provided by financing activities			0	0
Net decrease in cash and cash equivalents			0	0
Cash and cash equivalents, beginning of period			101	101
Cash and cash equivalents, end of period	101	101	101	101
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income	31,668	26,143	59,642	48,107
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries			(50)	(50)
Common stock dividends received from subsidiaries			25	50
Depreciation of property, plant and equipment			100,827	96,372
Other amortization			13,021	4,262
Deferred income taxes			(8,343)	23,599
Allowance for equity funds used during construction	(2,983)	(3,027)	(6,277)	(5,426)
Other			978	1,615
Changes in assets and liabilities
Increase in accounts receivable			(34,068)	(1,729)
Decrease (increase) in accrued unbilled revenues			(3,785)	(11,903)
Increase in fuel oil stock			(20,143)	(5,962)
Increase in materials and supplies			(3,544)	(3,420)
Increase in regulatory assets			(19,600)	8,179
Increase in accounts payable			18,284	39,716
Change in prepaid and accrued income taxes, tax credits and revenue taxes			(31,061)	(40,910)
Decrease in defined benefit pension and other postretirement benefit plans liability			(1,961)	302
Change in other assets and liabilities			5,891	(14,047)
Net cash provided by operating activities			69,836	138,755
Cash flows from investing activities
Capital expenditures			(213,220)	(190,159)
Contributions in aid of construction			13,573	17,571
Other			4,301	6,250
Advances (to) from affiliates			0	0
Net cash used in investing activities			(195,346)	(166,338)
Cash flows from financing activities
Common stock dividends			(51,652)	(43,884)
Preferred stock dividends of Hawaiian Electric and subsidiaries			(998)	(998)
Proceeds from issuance of long-term debt			100,000	265,000
Proceeds from issuance of special purpose revenue bonds				265,000
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds			0	(265,000)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less			86,881	43,990
Other			(378)	(3,229)
Net cash provided by financing activities			133,853	(4,121)
Net decrease in cash and cash equivalents			8,343	(31,704)
Cash and cash equivalents, beginning of period			12,517	74,286
Cash and cash equivalents, end of period	$ 20,860	$ 42,582	$ 20,860	$ 42,582

Bank segment - Income statemen

Bank segment - Income statement data (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Noninterest income
Noninterest income	$ 621,587		$ 1,197,052
Noninterest expense
Income before income taxes	59,582	$ 59,626	112,858	$ 111,208
Income taxes	13,055	20,492	25,611	37,408
Net income	46,527	39,134	87,247	73,800
American Savings Bank (ASB)
Interest and dividend income
Interest and fees on loans	54,633	52,317	107,433	103,059
Interest and dividends on investment securities	8,628	6,763	17,830	13,743
Total interest and dividend income	63,261	59,080	125,263	116,802
Interest expense
Interest on deposit liabilities	3,284	2,311	6,241	4,414
Interest on other borrowings	393	824	889	1,640
Total interest expense	3,677	3,135	7,130	6,054
Net interest income	59,584	55,945	118,133	110,748
Provision for loan losses	2,763	2,834	6,304	6,741
Net interest income after provision for loan losses	56,821	53,111	111,829	104,007
Noninterest income
Total noninterest income	13,843	16,249	27,260	31,383
Noninterest expense
Compensation and employee benefits	23,655	24,541	48,095	47,583
Occupancy	4,194	4,185	8,474	8,339
Data processing	3,540	3,207	7,004	6,487
Services	3,028	2,766	6,075	5,126
Equipment	1,874	1,771	3,602	3,519
Office supplies, printing and postage	1,491	1,527	2,998	3,062
Marketing	1,085	839	1,730	1,356
FDIC insurance	727	822	1,440	1,550
Other expense	4,556	4,906	8,657	9,412
Total noninterest expense	44,150	44,564	88,075	86,434
Income before income taxes	26,514	24,796	51,014	48,956
Income taxes	5,953	8,063	11,493	16,410
Net income	20,561	16,733	39,521	32,546
American Savings Bank (ASB) | Financial Services
Noninterest income
Noninterest income	4,744	5,810	9,398	11,420
American Savings Bank (ASB) | Deposit Liabilities
Noninterest income
Noninterest income	5,138	5,565	10,327	10,993
American Savings Bank (ASB) | Other Financial Products
Noninterest income
Noninterest income	1,675	1,971	3,329	3,837
American Savings Bank (ASB) | Bank-Owned Life Insurance
Noninterest income
Noninterest income	1,133	1,925	2,004	2,908
American Savings Bank (ASB) | Mortgage Banking
Noninterest income
Noninterest income	617	587	1,230	1,376
American Savings Bank (ASB) | Other income, net
Noninterest income
Noninterest income	$ 536	$ 391	$ 972	$ 849

Bank segment - Reconciliation o

Bank segment - Reconciliation of Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Condensed Income Statements, Captions [Line Items]
Total revenues	$ 685,277	$ 632,281	$ 1,331,151	$ 1,223,843
Less: Retirement defined benefits expense—other than service costs	(1,564)	(1,906)	(3,397)	(3,782)
Total expenses	606,478	554,479	1,180,463	1,076,303
Operating income	78,799	77,802	150,688	147,540
Income before income taxes	59,582	59,626	112,858	111,208
American Savings Bank (ASB)
Condensed Income Statements, Captions [Line Items]
Interest and dividend income	63,261	59,080	125,263	116,802
Total noninterest income	13,843	16,249	27,260	31,383
Total revenues	77,104	75,329	152,523	148,185
Total interest expense	3,677	3,135	7,130	6,054
Provision for loan losses	2,763	2,834	6,304	6,741
Noninterest expense	44,150	44,564	88,075	86,434
Less: Retirement defined benefits expense—other than service costs	403	201	790	396
Total expenses	50,187	50,332	100,719	98,833
Operating income	26,917	24,997	51,804	49,352
Income before income taxes	$ 26,514	$ 24,796	$ 51,014	$ 48,956

Bank segment - Comprehensive in

Bank segment - Comprehensive income data (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Condensed Statement of Income Captions [Line Items]
Net income for common stock	$ 46,054	$ 38,661	$ 86,301	$ 72,854
Net unrealized gains (losses) on securities:
Net unrealized gains (losses) on available-for-sale investment securities arising during the period, net of tax benefits (taxes) of $1,592, $(1,334), $6,459 and $(1,482), respectively	(4,348)	2,021	(17,645)	2,244
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $133, $133, $827 and $537, respectively	5,350	3,930	10,496	7,851
Other comprehensive income (loss), net of taxes	(3,825)	2,370	(16,598)	3,355
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	42,229	41,031	69,703	76,209
Net unrealized gains (losses) on securities arising during the period, (taxes) benefits	1,592	(1,334)	6,459	(1,482)
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, taxes (benefits)	(1,862)	(2,508)	(3,654)	(5,010)
American Savings Bank (ASB)
Condensed Statement of Income Captions [Line Items]
Net income for common stock	20,561	16,733	39,521	32,546
Net unrealized gains (losses) on securities:
Net unrealized gains (losses) on available-for-sale investment securities arising during the period, net of tax benefits (taxes) of $1,592, $(1,334), $6,459 and $(1,482), respectively	(4,348)	2,021	(17,645)	2,244
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of tax benefits of $133, $133, $827 and $537, respectively	366	202	1,588	814
Other comprehensive income (loss), net of taxes	(3,982)	2,223	(16,057)	3,058
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	16,579	18,956	23,464	35,604
Net unrealized gains (losses) on securities arising during the period, (taxes) benefits	1,592	(1,334)	6,459	(1,482)
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, taxes (benefits)	$ (133)	$ (133)	$ (827)	$ (537)

Bank segment - Balance sheet d

Bank segment - Balance sheet data (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Assets
Available-for-sale investment securities, at fair value	$ 1,409,528	$ 1,401,198
Held-to-maturity investment securities, at amortized cost	62,630	44,515
Stock in Federal Home Loan Bank, at cost	10,158	9,706
Allowance for loan losses	(52,803)	(53,637)
Net loans	4,721,941	4,617,131
Loans held for sale, at lower of cost or fair value	5,248	11,250
Other	565,614	513,535
Goodwill	82,190	82,190
Total assets	12,884,104	12,534,160
Liabilities
Other	500,873	521,018
Total liabilities	10,746,793	10,402,481
Commitments and contingencies
Retained earnings	495,656	476,836
Accumulated other comprehensive loss, net of tax benefits
Accumulated other comprehensive loss, net of tax benefits	(58,539)	(41,941)
Total shareholders’ equity	2,103,018	2,097,386	$ 2,075,029	$ 2,066,753
Total liabilities and shareholders’ equity	12,884,104	12,534,160
Other assets
Premises and equipment, net	4,611,949	4,460,248
Total Other Assets	565,614	513,535
Other liabilities
Total other liabilities	500,873	521,018
Balance Sheet related disclosures
Held-to-maturity investment securities	61,444	44,412
Securities sold under agreements to repurchase	77,000	141,000
American Savings Bank (ASB)
Assets
Cash and due from banks	120,189	140,934
Interest-bearing deposits	109,230	93,165
Available-for-sale investment securities, at fair value	1,409,528	1,401,198
Held-to-maturity investment securities, at amortized cost	62,630	44,515
Stock in Federal Home Loan Bank, at cost	10,158	9,706
Loans held for investment	4,774,744	4,670,768
Allowance for loan losses	(52,803)	(53,637)
Net loans	4,721,941	4,617,131
Loans held for sale, at lower of cost or fair value	5,248	11,250
Other	462,469	398,570
Goodwill	82,190	82,190
Total assets	6,983,583	6,798,659
Liabilities
Deposit liabilities—noninterest-bearing	1,812,348	1,760,233
Deposit liabilities—interest-bearing	4,303,761	4,130,364
Other borrowings	126,930	190,859
Other	131,063	110,356
Total liabilities	6,374,102	6,191,812
Commitments and contingencies
Common stock	1	1
Additional paid in capital	346,188	345,018
Retained earnings	310,298	292,957
Accumulated other comprehensive loss, net of tax benefits
Net unrealized losses on securities	(32,596)	(14,951)
Retirement benefit plans	(14,410)	(16,178)
Accumulated other comprehensive loss, net of tax benefits	(47,006)	(31,129)
Total shareholders’ equity	609,481	606,847
Total liabilities and shareholders’ equity	6,983,583	6,798,659
Other assets
Bank-owned life insurance	150,797	148,775
Premises and equipment, net	186,620	136,270
Prepaid expenses	4,993	3,961
Accrued interest receivable	19,597	18,724
Mortgage-servicing rights	8,509	8,639
Low-income housing equity investments	63,033	59,016
Real estate acquired in settlement of loans, net	0	133
Other	28,920	23,052
Total Other Assets	462,469	398,570
Other liabilities
Accrued expenses	63,734	39,312
Federal and state income taxes payable	1,200	3,736
Cashier’s checks	28,236	27,000
Advance payments by borrowers	10,415	10,245
Other	27,478	30,063
Total other liabilities	131,063	110,356
Balance Sheet related disclosures
Held-to-maturity investment securities	61,444	44,412
Securities sold under agreements to repurchase	77,000	141,000
Advances from Federal Home Loan Bank	$ 50,000	$ 50,000

Bank segment - Components of i

Bank segment - Components of investment securities (Details) $ in Thousands	Jun. 30, 2018USD ($)issue	Dec. 31, 2017USD ($)issue
Debt Securities, Available-for-sale [Abstract]
Amortized cost	$ 1,454,057	$ 1,421,622
Gross unrealized gains	445	1,231
Gross unrealized losses	(44,974)	(21,655)
Estimated fair value	$ 1,409,528	$ 1,401,198
Gross unrealized losses, Less than 12 months, Number of issues | issue	104	82
Gross unrealized losses, Less than 12 months, Fair value	$ 817,048	$ 736,772
Gross unrealized losses, Less than 12 months, Amount	$ (21,381)	$ (7,664)
Gross unrealized losses, 12 months or longer, Number of issues | issue	92	85
Gross unrealized losses, 12 months or longer, Fair value	$ 523,501	$ 522,208
Gross unrealized losses, 12 months or longer, Amount	(23,593)	(13,991)
Debt Securities, Held-to-maturity [Abstract]
Amortized cost	62,630	44,515
Gross unrealized gains	41	1
Gross unrealized losses	(1,227)	(104)
Held-to-maturity investment securities	$ 61,444	$ 44,412
Less Than 12 Months: Number Of Issues | issue	3	2
Less than 12 Months: Fair value	$ 41,138	$ 35,744
Less than 12 Months: Amount	$ (1,227)	$ (104)
12 months or longer: Number of issues | issue	0	0
12 months or longer: Fair value	$ 0	$ 0
12 months or longer: Amount	0	0
U.S. Treasury and federal agency obligations
Debt Securities, Available-for-sale [Abstract]
Amortized cost	179,986	185,891
Gross unrealized gains	72	438
Gross unrealized losses	(4,125)	(2,031)
Estimated fair value	$ 175,933	$ 184,298
Gross unrealized losses, Less than 12 months, Number of issues | issue	19	15
Gross unrealized losses, Less than 12 months, Fair value	$ 98,578	$ 83,137
Gross unrealized losses, Less than 12 months, Amount	$ (2,018)	$ (825)
Gross unrealized losses, 12 months or longer, Number of issues | issue	9	8
Gross unrealized losses, 12 months or longer, Fair value	$ 67,283	$ 62,296
Gross unrealized losses, 12 months or longer, Amount	(2,107)	(1,206)
Mortgage-related securities- FNMA, FHLMC and GNMA
Debt Securities, Available-for-sale [Abstract]
Amortized cost	1,218,313	1,220,304
Gross unrealized gains	350	793
Gross unrealized losses	(40,831)	(19,624)
Estimated fair value	$ 1,177,832	$ 1,201,473
Gross unrealized losses, Less than 12 months, Number of issues | issue	81	67
Gross unrealized losses, Less than 12 months, Fair value	$ 694,629	$ 653,635
Gross unrealized losses, Less than 12 months, Amount	$ (19,345)	$ (6,839)
Gross unrealized losses, 12 months or longer, Number of issues | issue	83	77
Gross unrealized losses, 12 months or longer, Fair value	$ 456,218	$ 459,912
Gross unrealized losses, 12 months or longer, Amount	(21,486)	(12,785)
Debt Securities, Held-to-maturity [Abstract]
Amortized cost	62,630	44,515
Gross unrealized gains	41	1
Gross unrealized losses	(1,227)	(104)
Held-to-maturity investment securities	$ 61,444	$ 44,412
Less Than 12 Months: Number Of Issues | issue	3	2
Less than 12 Months: Fair value	$ 41,138	$ 35,744
Less than 12 Months: Amount	$ (1,227)	$ (104)
12 months or longer: Number of issues | issue	0	0
12 months or longer: Fair value	$ 0	$ 0
12 months or longer: Amount	0	0
Corporate bonds
Debt Securities, Available-for-sale [Abstract]
Amortized cost	40,331
Gross unrealized gains	23
Gross unrealized losses	(18)
Estimated fair value	$ 40,336
Gross unrealized losses, Less than 12 months, Number of issues | issue	4
Gross unrealized losses, Less than 12 months, Fair value	$ 23,841
Gross unrealized losses, Less than 12 months, Amount	$ (18)
Gross unrealized losses, 12 months or longer, Number of issues | issue	0
Gross unrealized losses, 12 months or longer, Fair value	$ 0
Gross unrealized losses, 12 months or longer, Amount	0
Mortgage revenue bond
Debt Securities, Available-for-sale [Abstract]
Amortized cost	15,427	15,427
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Estimated fair value	$ 15,427	$ 15,427
Gross unrealized losses, Less than 12 months, Number of issues | issue	0	0
Gross unrealized losses, Less than 12 months, Fair value	$ 0	$ 0
Gross unrealized losses, Less than 12 months, Amount	$ 0	$ 0
Gross unrealized losses, 12 months or longer, Number of issues | issue	0	0
Gross unrealized losses, 12 months or longer, Fair value	$ 0	$ 0
Gross unrealized losses, 12 months or longer, Amount	$ 0	$ 0

Bank segment - Contractual mat

Bank segment - Contractual maturities of securities (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Available-for-sale Securities, Debt Maturities [Abstract]
Due in one year or less	$ 25,005
Due after one year through five years	105,425
Due after five years through ten years	77,526
Due after ten years	27,788
Total amortized cost	235,744
Mortgage-related securities-FNMA, FHLMC and GNMA	1,218,313
Amortized cost	1,454,057	$ 1,421,622
Held-to-Maturity, Debt Securities, Amortized Cost [Abstract]
Mortgage-related securities-FNMA, FHLMC and GNMA	62,630
Amortized cost	62,630	44,515
Available-for-sale Securities, Debt Securities, Fair Value [Abstract]
Due in one year or less	24,860
Due after one year through five years	104,020
Due after five years through ten years	75,563
Due after ten years	27,253
Total fair value	231,696
Mortgage-related securities-FNMA, FHLMC and GNMA	1,177,832
Total available-for-sale securities	1,409,528	1,401,198
Held-to-maturity Securities, Debt Securities, Fair Value [Abstract]
Mortgage-related securities-FNMA, FHLMC and GNMA	61,444
Total held-to-maturity securities	$ 61,444	$ 44,412

Bank segment - Available-for-sa

Bank segment - Available-for-sale securities, narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Bank Subsidiary [Abstract]
Proceeds from sale of available for sale securities	$ 0	$ 0
AFS, gross realized gains	$ 0	$ 0

Bank segment - Loans receivabl

Bank segment - Loans receivable (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	$ 4,775,413	$ 4,671,577
Less: Deferred fees and discounts	(669)	(809)
Allowance for loan losses	(52,803)	(53,637)
Net loans	$ 4,721,941	4,617,131
Minimum benchmark percentage of loan to appraisal ratio which mortgage insurance is required	80.00%
Real estate loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	$ 3,953,013	3,903,185
Residential 1-4 family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	2,099,950	2,118,047
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	758,835	733,106
Home equity line of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	938,902	913,052
Residential land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	16,032	15,797
Commercial construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	124,421	108,273
Residential construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	14,873	14,910
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	593,596	544,828
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	$ 228,804	$ 223,564

Bank segment - Allowance for l

Bank segment - Allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	$ 53,895	$ 55,997	$ 53,637	$ 55,533
Charge-offs	(4,581)	(3,234)	(9,454)	(7,574)
Recoveries	726	759	2,316	1,656
Provision	2,763	2,834	6,304	6,741
Valuation allowance, balance at the end of the period	52,803	56,356	52,803	56,356
Ending balance: individually evaluated for impairment	2,848		2,848		$ 2,730
Ending balance: collectively evaluated for impairment	49,955		49,955		50,907
Financing Receivables:
Total financing receivables	4,775,413		4,775,413		4,671,577
Ending balance: individually evaluated for impairment	39,583		39,583		33,393
Ending balance: collectively evaluated for impairment	4,735,830		4,735,830		4,638,184
Residential 1-4 family
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	2,525	2,781	2,902	2,873
Charge-offs	0	0	(31)	(6)
Recoveries	14	49	68	58
Provision	400	300	0	205
Valuation allowance, balance at the end of the period	2,939	3,130	2,939	3,130
Ending balance: individually evaluated for impairment	1,027		1,027		1,248
Ending balance: collectively evaluated for impairment	1,912		1,912		1,654
Financing Receivables:
Total financing receivables	2,099,950		2,099,950		2,118,047
Ending balance: individually evaluated for impairment	17,605		17,605		18,284
Ending balance: collectively evaluated for impairment	2,082,345		2,082,345		2,099,763
Commercial real estate
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	15,959	16,504	15,796	16,004
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision	(661)	2,336	(498)	2,836
Valuation allowance, balance at the end of the period	15,298	18,840	15,298	18,840
Ending balance: individually evaluated for impairment	53		53		65
Ending balance: collectively evaluated for impairment	15,245		15,245		15,731
Financing Receivables:
Total financing receivables	758,835		758,835		733,106
Ending balance: individually evaluated for impairment	993		993		1,016
Ending balance: collectively evaluated for impairment	757,842		757,842		732,090
Home equity line of credit
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	7,982	5,417	7,522	5,039
Charge-offs	(144)	0	(144)	(14)
Recoveries	13	39	27	130
Provision	(517)	71	(71)	372
Valuation allowance, balance at the end of the period	7,334	5,527	7,334	5,527
Ending balance: individually evaluated for impairment	1,161		1,161		647
Ending balance: collectively evaluated for impairment	6,173		6,173		6,875
Financing Receivables:
Total financing receivables	938,902		938,902		913,052
Ending balance: individually evaluated for impairment	13,849		13,849		8,188
Ending balance: collectively evaluated for impairment	925,053		925,053		904,864
Residential land
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	674	1,479	896	1,738
Charge-offs	(9)	(92)	(17)	(92)
Recoveries	46	15	51	218
Provision	(69)	(138)	(288)	(600)
Valuation allowance, balance at the end of the period	642	1,264	642	1,264
Ending balance: individually evaluated for impairment	7		7		47
Ending balance: collectively evaluated for impairment	635		635		849
Financing Receivables:
Total financing receivables	16,032		16,032		15,797
Ending balance: individually evaluated for impairment	1,171		1,171		1,265
Ending balance: collectively evaluated for impairment	14,861		14,861		14,532
Commercial construction
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	4,361	7,257	4,671	6,449
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision	255	(2,551)	(55)	(1,743)
Valuation allowance, balance at the end of the period	4,616	4,706	4,616	4,706
Ending balance: individually evaluated for impairment	0		0		0
Ending balance: collectively evaluated for impairment	4,616		4,616		4,671
Financing Receivables:
Total financing receivables	124,421		124,421		108,273
Ending balance: individually evaluated for impairment	0		0		0
Ending balance: collectively evaluated for impairment	124,421		124,421		108,273
Residential construction
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	4	11	12	12
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision	0	(2)	(8)	(3)
Valuation allowance, balance at the end of the period	4	9	4	9
Ending balance: individually evaluated for impairment	0		0		0
Ending balance: collectively evaluated for impairment	4		4		12
Financing Receivables:
Total financing receivables	14,873		14,873		14,910
Ending balance: individually evaluated for impairment	0		0		0
Ending balance: collectively evaluated for impairment	14,873		14,873		14,910
Commercial loans
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	10,355	14,902	10,851	16,618
Charge-offs	(540)	(752)	(1,142)	(2,262)
Recoveries	280	299	1,450	596
Provision	66	103	(998)	(400)
Valuation allowance, balance at the end of the period	10,161	14,552	10,161	14,552
Ending balance: individually evaluated for impairment	597		597		694
Ending balance: collectively evaluated for impairment	9,564		9,564		10,157
Financing Receivables:
Total financing receivables	593,596		593,596		544,828
Ending balance: individually evaluated for impairment	5,874		5,874		4,574
Ending balance: collectively evaluated for impairment	587,722		587,722		540,254
Consumer loans
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	12,035	7,646	10,987	6,800
Charge-offs	(3,888)	(2,390)	(8,120)	(5,200)
Recoveries	373	357	720	654
Provision	3,289	2,715	8,222	6,074
Valuation allowance, balance at the end of the period	11,809	8,328	11,809	8,328
Ending balance: individually evaluated for impairment	3		3		29
Ending balance: collectively evaluated for impairment	11,806		11,806		10,958
Financing Receivables:
Total financing receivables	228,804		228,804		223,564
Ending balance: individually evaluated for impairment	91		91		66
Ending balance: collectively evaluated for impairment	228,713		228,713		223,498
Unallocated
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	0	0	0	0
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision	0	0	0	0
Valuation allowance, balance at the end of the period	0	$ 0	0	$ 0
Ending balance: collectively evaluated for impairment	$ 0		$ 0		$ 0

Bank segment - Credit risk pro

Bank segment - Credit risk profile - assigned grades (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	$ 4,775,413	$ 4,671,577
Commercial real estate
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	758,835	733,106
Commercial real estate | Pass
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	671,592	630,877
Commercial real estate | Special mention
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	38,424	49,347
Commercial real estate | Substandard
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	48,819	52,882
Commercial real estate | Doubtful
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	0	0
Commercial real estate | Loss
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	0	0
Commercial construction
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	124,421	108,273
Commercial construction | Pass
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	99,632	83,757
Commercial construction | Special mention
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	22,500	22,500
Commercial construction | Substandard
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	2,289	2,016
Commercial construction | Doubtful
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	0	0
Commercial construction | Loss
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	0	0
Commercial loans
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	593,596	544,828
Commercial loans | Pass
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	539,168	492,942
Commercial loans | Special mention
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	32,711	27,997
Commercial loans | Substandard
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	21,717	23,421
Commercial loans | Doubtful
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	0	468
Commercial loans | Loss
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	$ 0	$ 0

Bank segment - Credit risk p55

Bank segment - Credit risk profile - payment activity (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Credit risk profile based on payment activity for loans
Total past due	$ 25,581	$ 23,603
Current	4,749,832	4,647,974
Total financing receivables	4,775,413	4,671,577
Recorded Investment greater than 90 days and accruing	0	0
30-59 days past due
Credit risk profile based on payment activity for loans
Total past due	10,933	7,237
60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	4,982	6,013
Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	9,666	10,353
Residential 1-4 family
Credit risk profile based on payment activity for loans
Total past due	8,683	8,318
Current	2,091,267	2,109,729
Total financing receivables	2,099,950	2,118,047
Recorded Investment greater than 90 days and accruing	0	0
Residential 1-4 family | 30-59 days past due
Credit risk profile based on payment activity for loans
Total past due	2,975	1,532
Residential 1-4 family | 60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	1,348	1,715
Residential 1-4 family | Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	4,360	5,071
Commercial real estate
Credit risk profile based on payment activity for loans
Total past due	725	0
Current	758,110	733,106
Total financing receivables	758,835	733,106
Recorded Investment greater than 90 days and accruing	0	0
Commercial real estate | 30-59 days past due
Credit risk profile based on payment activity for loans
Total past due	0	0
Commercial real estate | 60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	725	0
Commercial real estate | Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	0	0
Home equity line of credit
Credit risk profile based on payment activity for loans
Total past due	4,908	2,590
Current	933,994	910,462
Total financing receivables	938,902	913,052
Recorded Investment greater than 90 days and accruing	0	0
Home equity line of credit | 30-59 days past due
Credit risk profile based on payment activity for loans
Total past due	2,075	425
Home equity line of credit | 60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	288	114
Home equity line of credit | Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	2,545	2,051
Residential land
Credit risk profile based on payment activity for loans
Total past due	1,483	648
Current	14,549	15,149
Total financing receivables	16,032	15,797
Recorded Investment greater than 90 days and accruing	0	0
Residential land | 30-59 days past due
Credit risk profile based on payment activity for loans
Total past due	741	23
Residential land | 60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	111	0
Residential land | Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	631	625
Commercial construction
Credit risk profile based on payment activity for loans
Total past due	0	0
Current	124,421	108,273
Total financing receivables	124,421	108,273
Recorded Investment greater than 90 days and accruing	0	0
Commercial construction | 30-59 days past due
Credit risk profile based on payment activity for loans
Total past due	0	0
Commercial construction | 60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	0	0
Commercial construction | Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	0	0
Residential construction
Credit risk profile based on payment activity for loans
Total past due	0	0
Current	14,873	14,910
Total financing receivables	14,873	14,910
Recorded Investment greater than 90 days and accruing	0	0
Residential construction | 30-59 days past due
Credit risk profile based on payment activity for loans
Total past due	0	0
Residential construction | 60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	0	0
Residential construction | Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	0	0
Commercial loans
Credit risk profile based on payment activity for loans
Total past due	2,763	4,580
Current	590,833	540,248
Total financing receivables	593,596	544,828
Recorded Investment greater than 90 days and accruing	0	0
Commercial loans | 30-59 days past due
Credit risk profile based on payment activity for loans
Total past due	1,721	1,825
Commercial loans | 60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	491	2,025
Commercial loans | Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	551	730
Consumer loans
Credit risk profile based on payment activity for loans
Total past due	7,019	7,467
Current	221,785	216,097
Total financing receivables	228,804	223,564
Recorded Investment greater than 90 days and accruing	0	0
Consumer loans | 30-59 days past due
Credit risk profile based on payment activity for loans
Total past due	3,421	3,432
Consumer loans | 60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	2,019	2,159
Consumer loans | Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	$ 1,579	$ 1,876

Bank segment - Credit risk p56

Bank segment - Credit risk profile - summary (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Credit risk profile based on nonaccrual loans
Nonaccrual loans	$ 27,220	$ 23,591
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	24,133	20,814
Residential 1-4 family
Credit risk profile based on nonaccrual loans
Nonaccrual loans	13,121	12,598
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	10,777	10,982
Commercial real estate
Credit risk profile based on nonaccrual loans
Nonaccrual loans	0	0
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	993	1,016
Home equity line of credit
Credit risk profile based on nonaccrual loans
Nonaccrual loans	6,051	4,466
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	10,255	6,584
Residential land
Credit risk profile based on nonaccrual loans
Nonaccrual loans	843	841
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	328	425
Commercial construction
Credit risk profile based on nonaccrual loans
Nonaccrual loans	0	0
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring 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
Total troubled debt restructuring loans not included above	0	0
Commercial loans
Credit risk profile based on nonaccrual loans
Nonaccrual loans	4,385	3,069
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	1,716	1,741
Consumer loans
Credit risk profile based on nonaccrual loans
Nonaccrual loans	2,820	2,617
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	$ 64	$ 66

Bank segment - Principal balan

Bank segment - Principal balance of impaired loans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Recorded investment:
With no related allowance recorded	$ 16,803		$ 16,803		$ 14,072
With an allowance recorded	22,780		22,780		19,321
Recorded investment	39,583		39,583		33,393
Unpaid principal balance:
With no related allowance recorded	18,862		18,862		16,041
With an allowance recorded	23,053		23,053		19,574
Unpaid principal balance	41,915		41,915		35,615
Related Allowance	2,848		2,848		2,730
Average recorded investment:
With no related allowance recorded	15,447	$ 14,873	14,588	$ 16,258
With an allowance recorded	22,031	19,880	21,000	22,582
Average recorded investment	37,478	34,753	35,588	38,840
Interest income recognized:
With no related allowance recorded	72	148	199	278
With an allowance recorded	235	271	459	891
Interest income recognized	307	419	658	1,169
Residential 1-4 family
Recorded investment:
With no related allowance recorded	8,966		8,966		9,097
With an allowance recorded	8,639		8,639		9,187
Recorded investment	17,605		17,605		18,284
Unpaid principal balance:
With no related allowance recorded	9,498		9,498		9,644
With an allowance recorded	8,842		8,842		9,390
Unpaid principal balance	18,340		18,340		19,034
Related Allowance	1,027		1,027		1,248
Average recorded investment:
With no related allowance recorded	8,900	9,304	8,699	9,429
With an allowance recorded	8,778	10,054	8,953	10,051
Average recorded investment	17,678	19,358	17,652	19,480
Interest income recognized:
With no related allowance recorded	50	76	157	160
With an allowance recorded	97	117	190	236
Interest income recognized	147	193	347	396
Commercial real estate
Recorded investment:
With no related allowance recorded	0		0		0
With an allowance recorded	993		993		1,016
Recorded investment	993		993		1,016
Unpaid principal balance:
With no related allowance recorded	0		0		0
With an allowance recorded	993		993		1,016
Unpaid principal balance	993		993		1,016
Related Allowance	53		53		65
Average recorded investment:
With no related allowance recorded	0	143	0	182
With an allowance recorded	997	1,292	1,003	1,296
Average recorded investment	997	1,435	1,003	1,478
Interest income recognized:
With no related allowance recorded	0	11	0	11
With an allowance recorded	10	14	21	28
Interest income recognized	10	25	21	39
Home equity line of credit
Recorded investment:
With no related allowance recorded	2,505		2,505		1,496
With an allowance recorded	11,344		11,344		6,692
Recorded investment	13,849		13,849		8,188
Unpaid principal balance:
With no related allowance recorded	2,803		2,803		1,789
With an allowance recorded	11,414		11,414		6,736
Unpaid principal balance	14,217		14,217		8,525
Related Allowance	1,161		1,161		647
Average recorded investment:
With no related allowance recorded	2,374	2,401	2,037	2,203
With an allowance recorded	10,420	4,372	9,080	4,467
Average recorded investment	12,794	6,773	11,117	6,670
Interest income recognized:
With no related allowance recorded	7	51	12	65
With an allowance recorded	96	47	177	96
Interest income recognized	103	98	189	161
Residential land
Recorded investment:
With no related allowance recorded	1,141		1,141		1,143
With an allowance recorded	30		30		122
Recorded investment	1,171		1,171		1,265
Unpaid principal balance:
With no related allowance recorded	1,449		1,449		1,434
With an allowance recorded	30		30		122
Unpaid principal balance	1,479		1,479		1,556
Related Allowance	7		7		47
Average recorded investment:
With no related allowance recorded	1,132	1,075	1,150	1,016
With an allowance recorded	40	1,532	58	1,804
Average recorded investment	1,172	2,607	1,208	2,820
Interest income recognized:
With no related allowance recorded	5	8	10	34
With an allowance recorded	1	24	3	61
Interest income recognized	6	32	13	95
Commercial construction
Recorded investment:
With no related allowance recorded	0		0		0
With an allowance recorded	0		0		0
Recorded investment	0		0		0
Unpaid principal balance:
With no related allowance recorded	0		0		0
With an allowance recorded	0		0		0
Unpaid principal balance	0		0		0
Related Allowance	0		0		0
Average recorded investment:
With no related allowance recorded	0	0	0	0
With an allowance recorded	0	0	0	0
Average recorded investment	0	0	0	0
Interest income recognized:
With no related allowance recorded	0	0	0	0
With an allowance recorded	0	0	0	0
Interest income recognized	0	0	0	0
Residential construction
Recorded investment:
With no related allowance recorded	0		0		0
With an allowance recorded	0		0		0
Recorded investment	0		0		0
Unpaid principal balance:
With no related allowance recorded	0		0		0
With an allowance recorded	0		0		0
Unpaid principal balance	0		0		0
Related Allowance	0		0		0
Average recorded investment:
With no related allowance recorded	0	0	0	0
With an allowance recorded	0	0	0	0
Average recorded investment	0	0	0	0
Interest income recognized:
With no related allowance recorded	0	0	0	0
With an allowance recorded	0	0	0	0
Interest income recognized	0	0	0	0
Commercial loans
Recorded investment:
With no related allowance recorded	4,158		4,158		2,328
With an allowance recorded	1,716		1,716		2,246
Recorded investment	5,874		5,874		4,574
Unpaid principal balance:
With no related allowance recorded	5,079		5,079		3,166
With an allowance recorded	1,716		1,716		2,252
Unpaid principal balance	6,795		6,795		5,418
Related Allowance	597		597		694
Average recorded investment:
With no related allowance recorded	3,026	1,949	2,691	3,428
With an allowance recorded	1,738	2,562	1,848	4,915
Average recorded investment	4,764	4,511	4,539	8,343
Interest income recognized:
With no related allowance recorded	10	2	20	8
With an allowance recorded	30	68	66	469
Interest income recognized	40	70	86	477
Consumer loans
Recorded investment:
With no related allowance recorded	33		33		8
With an allowance recorded	58		58		58
Recorded investment	91		91		66
Unpaid principal balance:
With no related allowance recorded	33		33		8
With an allowance recorded	58		58		58
Unpaid principal balance	91		91		66
Related Allowance	3		3		$ 29
Average recorded investment:
With no related allowance recorded	15	1	11	0
With an allowance recorded	58	68	58	49
Average recorded investment	73	69	69	49
Interest income recognized:
With no related allowance recorded	0	0	0	0
With an allowance recorded	1	1	2	1
Interest income recognized	$ 1	$ 1	$ 2	$ 1

Bank segment - Troubled debt r

Bank segment - Troubled debt restructuring - narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Troubled debt restructurings real estate loans
Troubled debt restructurings
Financing receivable modifications minimum, period of payment default of loans determined to be TDRs (in days)	90 days
Commitments to lend additional funds to borrows with impaired or modified loans	$ 10,000	$ 0
Consumer mortgage loans collateralized by residential real estate property in foreclosure process	$ 5,000,000	$ 4,300,000
Land loans
Troubled debt restructurings
Period of interest-only monthly payment term loan (in years)	3 years
Land loans | Maximum
Troubled debt restructurings
Extension of maturity date (in years)	5 years

Bank segment - Loan modificati

Bank segment - Loan modifications (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018USD ($)contract	Jun. 30, 2017USD ($)contract	Jun. 30, 2018USD ($)contract	Jun. 30, 2017USD ($)contract	Dec. 31, 2017USD ($)
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			$ 24,133		$ 20,814
Residential 1-4 family
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			10,777		10,982
Commercial real estate
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			993		1,016
Home equity line of credit
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			10,255		6,584
Residential land
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			328		425
Commercial construction
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			0		0
Residential construction
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			0		0
Commercial loans
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			1,716		1,741
Consumer loans
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			$ 64		$ 66
Troubled debt restructurings real estate loans
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	23	7	48	20
Pre-modification outstanding recorded investment	$ 3,381	$ 658	$ 8,250	$ 1,797
Post-modification outstanding recorded investment	3,381	658	8,259	1,791
Net increase in allowance	$ 596	$ 59	$ 1,000	$ 165
Troubled debt restructurings real estate loans | Residential 1-4 family
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	2	1	5
Pre-modification outstanding recorded investment	$ 0	$ 360	$ 339	$ 872
Post-modification outstanding recorded investment	0	360	344	880
Net increase in allowance	$ 0	$ 0	$ 16	$ 45
Troubled debt restructurings real estate loans | Commercial real estate
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	0	0	0
Pre-modification outstanding recorded investment	$ 0	$ 0	$ 0	$ 0
Post-modification outstanding recorded investment	0	0	0	0
Net increase in allowance	$ 0	$ 0	$ 0	$ 0
Troubled debt restructurings real estate loans | Home equity line of credit
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	21	5	39	13
Pre-modification outstanding recorded investment	$ 3,338	$ 298	$ 5,508	$ 524
Post-modification outstanding recorded investment	3,338	298	5,512	510
Net increase in allowance	$ 554	$ 59	$ 942	$ 93
Troubled debt restructurings real estate loans | Residential land
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	0	1	0
Pre-modification outstanding recorded investment	$ 0	$ 0	$ 109	$ 0
Post-modification outstanding recorded investment	0	0	109	0
Net increase in allowance	$ 0	$ 0	$ 0	$ 0
Troubled debt restructurings real estate loans | Commercial construction
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	0	0	0
Pre-modification outstanding recorded investment	$ 0	$ 0	$ 0	$ 0
Post-modification outstanding recorded investment	0	0	0	0
Net increase in allowance	$ 0	$ 0	$ 0	$ 0
Troubled debt restructurings real estate loans | Residential construction
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	0	0	0
Pre-modification outstanding recorded investment	$ 0	$ 0	$ 0	$ 0
Post-modification outstanding recorded investment	0	0	0	0
Net increase in allowance	$ 0	$ 0	$ 0	$ 0
Troubled debt restructurings real estate loans | Commercial loans
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	2	0	7	1
Pre-modification outstanding recorded investment	$ 43	$ 0	$ 2,294	$ 342
Post-modification outstanding recorded investment	43	0	2,294	342
Net increase in allowance	$ 42	$ 0	$ 42	$ 0
Troubled debt restructurings real estate loans | Consumer loans
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	0	0	1
Pre-modification outstanding recorded investment	$ 0	$ 0	$ 0	$ 59
Post-modification outstanding recorded investment	0	0	0	59
Net increase in allowance	$ 0	$ 0	$ 0	$ 27

Bank segment - Troubled debt60

Bank segment - Troubled debt restructuring that subsequently defaulted (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)contract	Jun. 30, 2017USD ($)contract	Jun. 30, 2018USD ($)contract	Jun. 30, 2017USD ($)contract
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	2	1	3	2
Recorded investment | $	$ 391	$ 222	$ 472	$ 523
Residential 1-4 family
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	1	0	2
Recorded investment | $	$ 0	$ 222	$ 0	$ 523
Commercial real estate
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	0	0	0
Recorded investment | $	$ 0	$ 0	$ 0	$ 0
Home equity line of credit
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	1	0	2	0
Recorded investment | $	$ 100	$ 0	$ 181	$ 0
Residential land
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	0	0	0
Recorded investment | $	$ 0	$ 0	$ 0	$ 0
Commercial construction
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	0	0	0
Recorded investment | $	$ 0	$ 0	$ 0	$ 0
Residential construction
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	0	0	0
Recorded investment | $	$ 0	$ 0	$ 0	$ 0
Commercial loans
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	1	0	1	0
Recorded investment | $	$ 291	$ 0	$ 291	$ 0
Consumer loans
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	0	0	0
Recorded investment | $	$ 0	$ 0	$ 0	$ 0

Bank segment - Mortgage servic

Bank segment - Mortgage servicing rights (Details) - American Savings Bank (ASB) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Jun. 30, 2017USD ($)
Servicing Asset at Amortized Cost [Line Items]
Repurchase reserve					$ 100		$ 100
Mortgage service fees	$ 800	$ 700	$ 1,500	$ 1,500
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Servicing asset - beginning balance			8,639
Servicing asset - ending balance	8,509		8,509
Residential loan
Servicing Asset at Amortized Cost [Line Items]
Proceeds from sale of mortgage loans	44,300	39,300	77,400	79,900
Gain on sale of mortgage loans	600	600	1,200	1,400
Servicing contracts
Servicing Asset at Amortized Cost [Line Items]
Gross carrying amount					18,238	$ 17,511
Accumulated amortization					(9,729)	(8,872)
Valuation allowance	0	0	0	0	0	0	0
Net carrying amount					8,509	8,639	$ 9,181
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Servicing asset - beginning balance	8,541	9,294	8,639	9,373
Amount capitalized	392	362	727	798
Amortization	(424)	(475)	(857)	(990)
Other-than-temporary impairment	0	0	0	0
Servicing asset - ending balance	8,509	9,181	8,509	9,181
Valuation Allowance [Roll Forward]
Valuation allowance, beginning balance	0	0	0	0
Provision (recovery)	0	0	0	0
Other-than-temporary impairment	0	0	0	0
Valuation allowance, ending balance	$ 0	$ 0	$ 0	$ 0
Unpaid principal balance					1,192,901	1,195,454
Prepayment rate:
25 basis points adverse rate change					(344)	(869)
50 basis points adverse rate change					(797)	(1,828)
Discount rate:
25 basis points adverse rate change					(135)	(111)
50 basis points adverse rate change					$ (268)	$ (220)
Servicing contracts | Note rate
Valuation Allowance [Roll Forward]
Weighted average measurement input					0.0396	0.0394
Servicing contracts | Discount rate
Valuation Allowance [Roll Forward]
Weighted average measurement input					0.100	0.100
Servicing contracts | Prepayment speed
Valuation Allowance [Roll Forward]
Weighted average measurement input					0.068	0.090
Measurement Band A
Valuation Allowance [Roll Forward]
Measurement band percent for risk categorization			0.50%
Measurement Band B
Valuation Allowance [Roll Forward]
Measurement band percent for risk categorization			1.00%

Bank segment - Repurchase Agre

Bank segment - Repurchase Agreements (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Offsetting Liabilities [Line Items]
Gross amount of recognized liabilities	$ 77	$ 141
Gross amount offset in the Balance Sheet	0	0
Securities sold under agreements to repurchase	77	141
Securities sold under agreements to repurchase collateral, financial instruments	193	165
Securities sold under agreements to repurchase, cash collateral pledged	0	0
Commercial account holders
Offsetting Liabilities [Line Items]
Securities sold under agreements to repurchase	77	141
Securities sold under agreements to repurchase collateral, financial instruments	193	165
Securities sold under agreements to repurchase, cash collateral pledged	$ 0	$ 0

Bank segment - Derivatives (De

Bank segment - Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Not designated as a hedging instrument
Derivative instrument
Asset derivatives	$ 250		$ 250		$ 137
Liability derivatives	64		64		30
Net gains (losses) recognized in the Statement of Income	(9)	$ 1	79	$ (30)
Interest rate lock commitments
Derivative instrument
Notional amount	21,954		21,954		13,669
Fair value	248		248		131
Interest rate lock commitments | Not designated as a hedging instrument
Derivative instrument
Asset derivatives	248		248		133
Liability derivatives	0		0		2
Interest rate lock commitments | Not designated as a hedging instrument | Mortgage banking income
Derivative instrument
Net gains (losses) recognized in the Statement of Income	(7)	(191)	117	(295)
Forward commitments
Derivative instrument
Notional amount	24,911		24,911		14,465
Fair value	(62)		(62)		(24)
Forward commitments | Not designated as a hedging instrument
Derivative instrument
Asset derivatives	2		2		4
Liability derivatives	64		64		$ 28
Forward commitments | Not designated as a hedging instrument | Mortgage banking income
Derivative instrument
Net gains (losses) recognized in the Statement of Income	$ (2)	$ 192	$ (38)	$ 265

Bank segment - Contingencies (

Bank segment - Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
American Savings Bank (ASB)
Loss Contingencies [Line Items]
Unfunded commitments to fund the company's LIHTC	$ 20.6	$ 15.8

Credit agreements and long-te65

Credit agreements and long-term debt (Details)	1 Months Ended
	Jun. 30, 2018USD ($)Institution	May 30, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Disclosure [Abstract]
Number of financial institutions | Institution	8
Line of credit facility
Credit agreement
Revolving noncollateralized credit facility with a letter of credit sub-facility	$ 150,000,000
Amount outstanding under facilities	0		$ 0
Line of credit facility | Hawaiian Electric Company
Credit agreement
Revolving noncollateralized credit facility with a letter of credit sub-facility	200,000,000
Amount outstanding under facilities	0		$ 0
Unsecured Debt | Mauo, LLC
Credit agreement
Aggregate principal amount	0
Debt, face amount	$ 50,500,000
Unsecured Debt | Mauo, LLC | London Interbank Offered Rate (LIBOR)
Credit agreement
Basis spread on variable rate	1.375%
Unsecured Debt | Series 2018A
Credit agreement
Aggregate principal amount		$ 67,500,000
Fixed coupon interest rate		4.38%
Unsecured Debt | Series 2018A | Hawaiian Electric Company, Inc. and Subsidiaries
Credit agreement
Aggregate principal amount		$ 52,000,000
Unsecured Debt | Series 2018A | Hawaii Electric Light Company, Inc. (HELCO)
Credit agreement
Aggregate principal amount		9,000,000
Unsecured Debt | Series 2018A | Maui Electric
Credit agreement
Aggregate principal amount		6,500,000
Unsecured Debt | Series 2018B
Credit agreement
Aggregate principal amount		$ 17,500,000
Fixed coupon interest rate		4.53%
Unsecured Debt | Series 2018B | Hawaiian Electric Company, Inc. and Subsidiaries
Credit agreement
Aggregate principal amount		$ 12,500,000
Unsecured Debt | Series 2018B | Hawaii Electric Light Company, Inc. (HELCO)
Credit agreement
Aggregate principal amount		3,000,000
Unsecured Debt | Series 2018B | Maui Electric
Credit agreement
Aggregate principal amount		2,000,000
Unsecured Debt | Series 2018C
Credit agreement
Aggregate principal amount		$ 15,000,000
Fixed coupon interest rate		4.72%
Unsecured Debt | Series 2018C | Hawaiian Electric Company, Inc. and Subsidiaries
Credit agreement
Aggregate principal amount		$ 10,500,000
Unsecured Debt | Series 2018C | Hawaii Electric Light Company, Inc. (HELCO)
Credit agreement
Aggregate principal amount		3,000,000
Unsecured Debt | Series 2018C | Maui Electric
Credit agreement
Aggregate principal amount		$ 1,500,000

Shareholders' equity - Accumula

Shareholders' equity - Accumulated other comprehensive income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance			$ 2,097,386	$ 2,066,753
Current period other comprehensive income (loss)	$ (3,825)	$ 2,370	(16,598)	3,355
Ending Balance	2,103,018	2,075,029	2,103,018	2,075,029
AOCI
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance			(41,941)	(33,129)
Current period other comprehensive income (loss)			(16,598)	3,355
Ending Balance	(58,539)	(29,774)	(58,539)	(29,774)
Net unrealized gains (losses) on securities
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance			(14,951)	(7,931)
Current period other comprehensive income (loss)			(17,645)	2,244
Ending Balance	(32,596)	(5,687)	(32,596)	(5,687)
Unrealized gains (losses) on derivatives
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance			0	(454)
Current period other comprehensive income (loss)			0	454
Ending Balance	0	0	0	0
Retirement benefit plans
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance			(26,990)	(24,744)
Current period other comprehensive income (loss)			1,047	657
Ending Balance	(25,943)	(24,087)	(25,943)	(24,087)
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance			1,845,283	1,799,787
Current period other comprehensive income (loss)	26	40	57	499
Ending Balance	1,852,324	1,803,506	1,852,324	1,803,506
Hawaiian Electric Company, Inc. and Subsidiaries | AOCI
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance			(1,219)	(322)
Current period other comprehensive income (loss)			57	499
Ending Balance	(1,162)	177	(1,162)	177
Hawaiian Electric Company, Inc. and Subsidiaries | Unrealized gains (losses) on derivatives
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance			0	(454)
Current period other comprehensive income (loss)			0	454
Ending Balance	0	0	0	0
Hawaiian Electric Company, Inc. and Subsidiaries | Retirement benefit plans
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax [Abstract]
Beginning Balance			(1,219)	132
Current period other comprehensive income (loss)			57	45
Ending Balance	$ (1,162)	$ 177	$ (1,162)	$ 177

Shareholders' equity - Reclassi

Shareholders' equity - Reclassification out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	$ 523	$ 349	$ 1,047	$ 1,111
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	26	40	57	499
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	5,350	3,930	10,496	7,851
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost | Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	4,853	3,621	9,506	7,239
Impact of D&Os of the PUC included in regulatory assets
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(4,827)	(3,581)	(9,449)	(7,194)
Impact of D&Os of the PUC included in regulatory assets | Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(4,827)	(3,581)	(9,449)	(7,194)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) on derivatives | Forward commitments
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	0	0	0	454
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) on derivatives | Forward commitments | Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	$ 0	$ 0	$ 0	$ 454

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue from Contract with Customer [Abstract]
General payment period			30 days
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 621,587		$ 1,197,052
Total revenues	685,277	$ 632,281	1,331,151	$ 1,223,843
Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,308		24,602
Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	609,279		1,172,450
Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	185,217		363,806
Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	206,169		395,167
Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	214,676		406,997
Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,217		6,480
Utility fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	751		1,548
Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,557		23,054
Revenues from Other Sources
Disaggregation of Revenue [Line Items]
Total revenues	63,690		134,099
Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues	(4,643)		107
Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues	63,261		125,263
Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues	2,286		4,206
Other
Disaggregation of Revenue [Line Items]
Total revenues	2,786		4,523
Electric utility
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	610,030		1,173,998
Total revenues	608,126	556,875	1,178,553	1,075,486
Electric utility | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	751		1,548
Electric utility | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	609,279		1,172,450
Electric utility | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	185,217		363,806
Electric utility | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	206,169		395,167
Electric utility | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	214,676		406,997
Electric utility | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,217		6,480
Electric utility | Utility fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	751		1,548
Electric utility | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Electric utility | Revenues from Other Sources
Disaggregation of Revenue [Line Items]
Total revenues	(1,904)		4,555
Electric utility | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues	(4,643)		107
Electric utility | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues	0		0
Electric utility | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues	0		0
Electric utility | Other
Disaggregation of Revenue [Line Items]
Total revenues	2,739		4,448
Bank
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,557		23,054
Total revenues	77,104	75,329	152,523	148,185
Bank | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,557		23,054
Bank | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Bank | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Bank | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Bank | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Bank | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Bank | Utility fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Bank | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,557		23,054
Bank | Revenues from Other Sources
Disaggregation of Revenue [Line Items]
Total revenues	65,547		129,469
Bank | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues	0		0
Bank | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues	63,261		125,263
Bank | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues	2,286		4,206
Bank | Other
Disaggregation of Revenue [Line Items]
Total revenues	0		0
Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Total revenues	47	$ 77	75	$ 172
Other | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Other | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Other | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Other | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Other | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Other | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Other | Utility fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Other | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0		0
Other | Revenues from Other Sources
Disaggregation of Revenue [Line Items]
Total revenues	47		75
Other | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues	0		0
Other | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues	0		0
Other | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues	0		0
Other | Other
Disaggregation of Revenue [Line Items]
Total revenues	$ 47		$ 75

Retirement benefits (Details)

Retirement benefits (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Defined benefit plans
Expected payments for remainder of fiscal year	$ 2,000,000		$ 2,000,000		$ 1,000,000
Retirement benefits expense			$ 27,000,000	$ 17,000,000
Number of years for which regulatory asset/liability for each utility will be amortized, beginning with respective utility's next rate case (in years)			5 years
Defined contribution plan, expenses recognized			$ 3,200,000	3,300,000
Cash contributions by the employer to defined contribution plan			4,800,000	4,000,000
Hawaiian Electric Company, Inc. and Subsidiaries
Defined benefit plans
Expected payments for remainder of fiscal year	1,000,000		1,000,000		500,000
Retirement benefits expense			25,000,000	15,000,000
Defined contribution plan, expenses recognized			1,100,000	1,000,000
Cash contributions by the employer to defined contribution plan			1,100,000	1,000,000
Pension benefits
Defined benefit plans
Contributions made to defined benefit plans			32,000,000	33,000,000
Contributions expected to be paid in current year	42,000,000		42,000,000		67,000,000
Service cost	17,428,000	$ 15,870,000	34,541,000	32,364,000
Interest cost	19,459,000	20,361,000	38,693,000	40,577,000
Expected return on plan assets	(27,224,000)	(25,646,000)	(54,478,000)	(51,367,000)
Amortization of net prior service gain	(11,000)	(13,000)	(21,000)	(27,000)
Amortization of net actuarial loss	7,634,000	6,707,000	15,029,000	13,220,000
Net periodic pension/benefit cost (return)	17,286,000	17,279,000	33,764,000	34,767,000
Impact of PUC D&Os	7,179,000	(4,867,000)	9,836,000	(10,023,000)
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	24,465,000	12,412,000	43,600,000	24,744,000
Pension benefits | American Savings Bank (ASB)
Defined benefit plans
Contributions expected to be paid in current year	0		0		0
Pension benefits | Hawaiian Electric Industries, Inc.
Defined benefit plans
Contributions expected to be paid in current year	1,000,000		1,000,000		1,000,000
Pension benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined benefit plans
Contributions made to defined benefit plans			32,000,000	33,000,000
Contributions expected to be paid in current year	41,000,000		41,000,000		$ 66,000,000
Service cost	17,007,000	15,436,000	33,680,000	31,530,000
Interest cost	17,937,000	18,726,000	35,647,000	37,315,000
Expected return on plan assets	(25,577,000)	(23,935,000)	(51,184,000)	(47,946,000)
Amortization of net prior service gain	2,000	2,000	4,000	4,000
Amortization of net actuarial loss	6,941,000	6,190,000	13,651,000	12,196,000
Net periodic pension/benefit cost (return)	16,310,000	16,419,000	31,798,000	33,099,000
Impact of PUC D&Os	7,179,000	(4,867,000)	9,836,000	(10,023,000)
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	23,489,000	11,552,000	41,634,000	23,076,000
Other benefits
Defined benefit plans
Service cost	692,000	847,000	1,361,000	1,687,000
Interest cost	2,030,000	2,315,000	3,961,000	4,726,000
Expected return on plan assets	(3,267,000)	(3,104,000)	(6,459,000)	(6,170,000)
Amortization of net prior service gain	(451,000)	(448,000)	(903,000)	(897,000)
Amortization of net actuarial loss	48,000	199,000	46,000	565,000
Net periodic pension/benefit cost (return)	(948,000)	(191,000)	(1,994,000)	(89,000)
Impact of PUC D&Os	1,024,000	527,000	2,095,000	673,000
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	76,000	336,000	101,000	584,000
Other benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined benefit plans
Service cost	688,000	841,000	1,352,000	1,676,000
Interest cost	1,955,000	2,231,000	3,814,000	4,558,000
Expected return on plan assets	(3,216,000)	(3,056,000)	(6,356,000)	(6,073,000)
Amortization of net prior service gain	(451,000)	(451,000)	(902,000)	(902,000)
Amortization of net actuarial loss	49,000	192,000	49,000	551,000
Net periodic pension/benefit cost (return)	(975,000)	(243,000)	(2,043,000)	(190,000)
Impact of PUC D&Os	1,024,000	527,000	2,095,000	673,000
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	$ 49,000	$ 284,000	$ 52,000	$ 483,000

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($) $ in Millions	Mar. 01, 2014	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based compensation
Income tax benefit from compensation expense		$ 0.5	$ 0.8	$ 0.7	$ 1.2
Restricted stock units
Share-based compensation
Fair value of vested stock				2.7	3.3
Income tax benefit from compensation expense				0.4	1.2
Unrecognized share based compensation		5.4		$ 5.4
Weighted average period for recognition of unrecognized compensation cost (in years)				2 years 9 months 18 days
Long-term Incentive Plan
Share-based compensation
Payment award, low end of range				0.00%
Payment award, high end of range				200.00%
Award performance period (in years)				3 years
LTIP linked to TRS
Share-based compensation
Fair value of vested stock					1.9
Unrecognized share based compensation		1.7		$ 1.7
Weighted average period for recognition of unrecognized compensation cost (in years)				2 years
Measurement period for total return to shareholders (in years)				3 years
Tax benefits related to awards vested					0.7
LTIP awards linked to other performance conditions
Share-based compensation
Fair value of vested stock					4.2
Income tax benefit from compensation expense					$ 1.6
Unrecognized share based compensation		$ 6		$ 6
Weighted average period for recognition of unrecognized compensation cost (in years)				2 years
Equity and Incentive Plan
Share-based compensation
Number of additional shares authorized (in shares)	1,500,000
Shares available for future issuance (in shares)		3,200,000		3,200,000
Number of share issuable upon vesting and achievement of performance goals (in shares)		600,000		600,000
Nonemployee Director Stock Plan
Share-based compensation
Shares available for future grant (in shares)		46,607		46,607

Share-based compensation - Summ

Share-based compensation - Summary of income taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based compensation
Share-based compensation expense	$ 2.8	$ 2.2	$ 4.4	$ 3.3
Income tax benefit	0.5	0.8	0.7	1.2
Hawaiian Electric Company, Inc. and Subsidiaries
Share-based compensation
Share-based compensation expense	0.9	0.7	1.5	1.1
Income tax benefit	$ 0.2	$ 0.3	$ 0.3	$ 0.4

Share-based compensation - 2011

Share-based compensation - 2011 Director Plan (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based compensation
Income tax benefit from compensation expense	$ 0.5	$ 0.8	$ 0.7	$ 1.2
Common stock
Share-based compensation
Shares granted (in shares)	37,747	35,000	38,821	35,770
Fair value measurement of shares granted and vested	$ 1.3	$ 1.1	$ 1.3	$ 1.2
Income tax benefit from compensation expense	$ 0.3	$ 0.4	$ 0.3	$ 0.5

Share-based compensation - Su73

Share-based compensation - Summary of changes in share based compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Restricted stock units
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	208,088	236,036	197,047	220,683
Granted (in shares)	3,159	896	92,064	97,873
Vested (in shares)	(448)	(7,370)	(75,683)	(88,994)
Forfeited (in shares)	(9,943)	(23,079)	(12,572)	(23,079)
Outstanding, end of period (in shares)	200,856	206,483	200,856	206,483
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 32.97	$ 31.42	$ 31.53	$ 29.57
Granted (in dollars per share)	33.78	33.06	34.09	33.47
Vested (in dollars per share)	31.94	29.17	30.56	28.88
Forfeited (in dollars per share)	32.05	31.50	32.27	31.50
Outstanding, end of period (in dollars per share)	$ 33.03	$ 31.50	$ 33.03	$ 31.50
Total weighted-average grant-date fair value	$ 0.1	$ 0	$ 3.1	$ 3.3
LTIP linked to TRS
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	66,791	36,971	32,904	83,106
Granted (in shares)	1,315	233	36,941	37,204
Vested (in shares)	0	0	0	(83,106)
Forfeited (in shares)	(1,929)	(3,434)	(3,668)	(3,434)
Outstanding, end of period (in shares)	66,177	33,770	66,177	33,770
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 38.84	$ 39.51	$ 39.51	$ 22.95
Granted (in dollars per share)	38.20	39.51	38.21	39.51
Vested (in dollars per share)	0	0	0	22.95
Forfeited (in dollars per share)	38.85	39.51	38.84	39.51
Outstanding, end of period (in dollars per share)	$ 38.82	$ 39.51	$ 38.82	$ 39.51
Total weighted-average grant-date fair value	$ 0.1	$ 0	$ 1.4	$ 1.5
LTIP awards linked to other performance conditions
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	267,167	147,888	131,616	109,816
Granted (in shares)	5,257	930	147,766	148,818
Vested (in shares)	0	0	0	(109,816)
Forfeited (in shares)	(7,717)	(13,740)	(14,675)	(13,740)
Outstanding, end of period (in shares)	264,707	135,078	264,707	135,078
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 33.80	$ 33.48	$ 33.47	$ 25.18
Granted (in dollars per share)	33.52	32.58	34.08	33.47
Vested (in dollars per share)	0	0	0	25.18
Forfeited (in dollars per share)	33.80	33.48	33.80	33.48
Outstanding, end of period (in dollars per share)	$ 33.79	$ 33.47	$ 33.79	$ 33.47
Total weighted-average grant-date fair value	$ 0.2	$ 0	$ 5	$ 5

Share-based compensation - Fair

Share-based compensation - Fair value assumptions (Details) - LTIP linked to TRS - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk-free interest rate	2.29%	1.46%
Expected life (in years)	3 years	3 years
Expected volatility	17.00%	20.10%
Range of expected volatility for Peer Group, minimum rate	15.10%	15.40%
Range of expected volatility for Peer Group, maximum rate	26.20%	26.00%
Grant date fair value (in dollars per share)	$ 38.20	$ 39.51

Cash flows (Details)

Cash flows (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Supplemental disclosures of cash flow information
Interest paid to non-affiliates	$ 45	$ 46
Income taxes paid (including refundable credits)	36	21
Supplemental disclosures of noncash activities
Estimated fair value of noncash contributions in aid of construction (investing)	5	2
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	42	38
Loans transferred from held for investment to held for sale (investing)	1	9
Common stock issued (gross) for director and executive/management compensation (financing)	4	11
Obligations to fund low income housing investments (investing)	6	0
Transfer of retail repurchase agreements to deposit liabilities (financing)	102	0
Unsettled trades to purchase investment securities (investing)	10	0
Hawaiian Electric Company, Inc. and Subsidiaries
Supplemental disclosures of cash flow information
Interest paid to non-affiliates	32	36
Income taxes paid (including refundable credits)	35	8
Supplemental disclosures of noncash activities
Estimated fair value of noncash contributions in aid of construction (investing)	5	2
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	$ 28	$ 36

Fair value measurements - Summa

Fair value measurements - Summary of financial assets and liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Financial assets
Available-for-sale investment securities	$ 1,409,528	$ 1,401,198
Held-to-maturity investment securities	61,444	44,412
Financial liabilities
Short-term borrowings—other than bank	202,857	117,945
Other bank borrowings	126,930	190,859
Carrying or notional amount
Financial assets
Available-for-sale investment securities	1,409,528	1,401,198
Held-to-maturity investment securities	62,630	44,515
Stock in Federal Home Loan Bank	10,158	9,706
Loans, net	4,727,189	4,628,381
Mortgage-servicing rights	8,509	8,639
Derivative assets	24,537	17,812
Financial liabilities
Deposit liabilities	757,265	5,890,597
Short-term borrowings—other than bank	202,857	117,945
Other bank borrowings	126,930	190,859
Long-term debt, net	1,783,009	1,683,797
Derivative liabilities	25,445	13,562
Carrying or notional amount | Hawaiian Electric Company, Inc. and Subsidiaries
Financial assets
Derivative assets		3,240
Financial liabilities
Long-term debt, net	1,468,457	1,368,479
Derivative liabilities	3,117
Short-term borrowings	91,880	4,999
Estimated fair value
Financial assets
Available-for-sale investment securities	1,409,528	1,401,198
Held-to-maturity investment securities	61,444	44,412
Stock in Federal Home Loan Bank	10,158	9,706
Loans, net	4,779,329	4,781,751
Mortgage-servicing rights	13,423	12,052
Derivative assets	250	393
Financial liabilities
Deposit liabilities	745,295	5,884,071
Short-term borrowings—other than bank	202,857	117,945
Other bank borrowings	126,904	190,829
Long-term debt, net	1,816,310	1,813,295
Derivative liabilities	170	30
Estimated fair value | Hawaiian Electric Company, Inc. and Subsidiaries
Financial assets
Derivative assets		256
Financial liabilities
Long-term debt, net	1,511,103	1,497,079
Derivative liabilities	106
Short-term borrowings	91,880	4,999
Estimated fair value | Level 1
Financial assets
Available-for-sale investment securities	0	0
Held-to-maturity investment securities	0	0
Stock in Federal Home Loan Bank	0	0
Loans, net	0	0
Mortgage-servicing rights	0	0
Derivative assets	0	0
Financial liabilities
Deposit liabilities	0	0
Short-term borrowings—other than bank	0	0
Other bank borrowings	0	0
Long-term debt, net	0	0
Derivative liabilities	56	20
Estimated fair value | Level 1 | Hawaiian Electric Company, Inc. and Subsidiaries
Financial assets
Derivative assets		0
Financial liabilities
Long-term debt, net	0	0
Derivative liabilities	0
Short-term borrowings	0	0
Estimated fair value | Level 2
Financial assets
Available-for-sale investment securities	1,394,101	1,385,771
Held-to-maturity investment securities	61,444	44,412
Stock in Federal Home Loan Bank	10,158	9,706
Loans, net	5,250	11,254
Mortgage-servicing rights	0	0
Derivative assets	250	393
Financial liabilities
Deposit liabilities	745,295	5,884,071
Short-term borrowings—other than bank	202,857	117,945
Other bank borrowings	126,904	190,829
Long-term debt, net	1,816,310	1,813,295
Derivative liabilities	114	10
Estimated fair value | Level 2 | Hawaiian Electric Company, Inc. and Subsidiaries
Financial assets
Derivative assets		256
Financial liabilities
Long-term debt, net	1,511,103	1,497,079
Derivative liabilities	106
Short-term borrowings	91,880	4,999
Estimated fair value | Level 3
Financial assets
Available-for-sale investment securities	15,427	15,427
Held-to-maturity investment securities	0	0
Stock in Federal Home Loan Bank	0	0
Loans, net	4,774,079	4,770,497
Mortgage-servicing rights	13,423	12,052
Derivative assets	0	0
Financial liabilities
Deposit liabilities	0	0
Short-term borrowings—other than bank	0	0
Other bank borrowings	0	0
Long-term debt, net	0	0
Derivative liabilities	0	0
Estimated fair value | Level 3 | Hawaiian Electric Company, Inc. and Subsidiaries
Financial assets
Derivative assets		0
Financial liabilities
Long-term debt, net	0	0
Derivative liabilities	0
Short-term borrowings	$ 0	$ 0

Fair value measurements - Asset

Fair value measurements - Assets and liabilities measured on a recurring basis (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Derivative assets
Available-for-sale investment securities	$ 1,409,528	$ 1,401,198
Corporate bonds
Derivative assets
Available-for-sale investment securities	40,336
Mortgage revenue bond
Derivative assets
Available-for-sale investment securities	15,427	15,427
Fair value measurements on a recurring basis | Level 1
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	56	20
Fair value measurements on a recurring basis | Level 1 | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 1 | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	56	20
Fair value measurements on a recurring basis | Level 1 | Window forward contracts
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 1 | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | Mortgage-related securities - FNMA, FHLMC and GNMA | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | U.S. Treasury federal agency obligations | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | Corporate bonds | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 1 | Mortgage revenue bond | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 2
Derivative assets
Derivative assets	250	393
Derivative liabilities
Derivative liabilities	114	10
Fair value measurements on a recurring basis | Level 2 | Interest rate lock commitments
Derivative assets
Derivative assets	248	133
Derivative liabilities
Derivative liabilities	0	2
Fair value measurements on a recurring basis | Level 2 | Forward commitments
Derivative assets
Derivative assets	2	4
Derivative liabilities
Derivative liabilities	8	8
Fair value measurements on a recurring basis | Level 2 | Window forward contracts
Derivative assets
Derivative assets	0	256
Derivative liabilities
Derivative liabilities	106	0
Fair value measurements on a recurring basis | Level 2 | Bank
Derivative assets
Available-for-sale investment securities	1,394,101	1,385,771
Fair value measurements on a recurring basis | Level 2 | Mortgage-related securities - FNMA, FHLMC and GNMA | Bank
Derivative assets
Available-for-sale investment securities	1,177,832	1,201,473
Fair value measurements on a recurring basis | Level 2 | U.S. Treasury federal agency obligations | Bank
Derivative assets
Available-for-sale investment securities	175,933	184,298
Fair value measurements on a recurring basis | Level 2 | Corporate bonds | Bank
Derivative assets
Available-for-sale investment securities	40,336	0
Fair value measurements on a recurring basis | Level 2 | Mortgage revenue bond | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 3
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Window forward contracts
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Level 3 | Bank
Derivative assets
Available-for-sale investment securities	15,427	15,427
Fair value measurements on a recurring basis | Level 3 | Mortgage-related securities - FNMA, FHLMC and GNMA | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 3 | U.S. Treasury federal agency obligations | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 3 | Corporate bonds | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 3 | Mortgage revenue bond | Bank
Derivative assets
Available-for-sale investment securities	$ 15,427	$ 15,427

Fair value measurements - Addit

Fair value measurements - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)
Measurement Input, Credit Spread
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Weighted average discount rate	0.0340		0.0340
Mortgage revenue bond
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 15,427	$ 15,427	$ 15,427	$ 15,427
Principal payments received	0	0	0	0
Purchases	0	0	0	0
Unrealized gain (loss) included in other comprehensive income	0	0	0	0
Ending balance	$ 15,427	$ 15,427	$ 15,427	$ 15,427

Fair value measurements - Ass79

Fair value measurements - Assets Measured on a Nonrecurring Basis (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017
Estimated fair value
Fair value measurements on a recurring basis
Loans, net	$ 4,779,329,000	$ 4,781,751,000
Estimated fair value | Level 1
Fair value measurements on a recurring basis
Loans, net	0	0
Estimated fair value | Level 2
Fair value measurements on a recurring basis
Loans, net	5,250,000	11,254,000
Estimated fair value | Level 3
Fair value measurements on a recurring basis
Loans, net	4,774,079,000	4,770,497,000
Fair value measurements on a nonrecurring basis | American Savings Bank (ASB)
Fair value measurements on a recurring basis
Adjustments to fair value of loans held for sale	0		$ 0
Fair value measurements on a nonrecurring basis | Level 1
Fair value measurements on a recurring basis
Loans, net	0	0
Fair value measurements on a nonrecurring basis | Level 2
Fair value measurements on a recurring basis
Loans, net	0	0
Fair value measurements on a nonrecurring basis | Level 3
Fair value measurements on a recurring basis
Loans, net	232,000	2,621,000
Fair value measurements on a nonrecurring basis | Estimated fair value
Fair value measurements on a recurring basis
Loans, net	$ 232,000	$ 2,621,000

Fair value measurements - Sum80

Fair value measurements - Summary of Level 3 financial instruments (Details) - Level 3 - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Fair value measurements
Fair value	$ 232	$ 2,621
Fair value of collateral | Residential loan
Fair value measurements
Fair value	$ 232	$ 613
Appraised value, selling cost	7.00%	7.00%
Appraised value, weighted average rate	68.00%	84.00%
Fair value of collateral | Residential loan | Minimum
Fair value measurements
Appraised value	62.00%	71.00%
Fair value of collateral | Residential loan | Maximum
Fair value measurements
Appraised value	69.00%	92.00%
Fair value of collateral | Commercial loans
Fair value measurements
Fair value		$ 2,008
Appraised value, weighted average rate		75.00%
Fair value of collateral | Commercial loans | Minimum
Fair value measurements
Appraised value		71.00%
Fair value of collateral | Commercial loans | Maximum
Fair value measurements
Appraised value		76.00%