Hawaiian Electric Company, Inc. PFD K 4.65% (HAWLL) 10-Q 7 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 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	Sep. 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	Q3
Entity Emerging Growth Company	false
Entity Small Business	false
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	Sep. 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	Q3
Entity Emerging Growth Company	false
Entity Small Business	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues
Total revenues	$ 768,048	$ 673,185	$ 2,099,199	$ 1,897,028
Expenses
Purchased power	177,000	161,000	478,000	441,000
Total expenses	669,984	561,712	1,850,447	1,638,015
Operating income (loss)
Total operating income	98,064	111,473	248,752	259,013
Retirement defined benefits expense—other than service costs	(1,276)	(1,928)	(4,673)	(5,710)
Interest expense, net—other than on deposit liabilities and other bank borrowings	(22,523)	(19,227)	(66,042)	(59,235)
Allowance for borrowed funds used during construction	1,006	1,339	3,815	3,371
Allowance for equity funds used during construction	1,962	3,482	8,239	8,908
Income before income taxes	77,233	95,139	190,091	206,347
Income taxes	10,862	34,595	36,473	72,003
Net income	66,371	60,544	153,618	134,344
Preferred stock dividends of subsidiaries	471	471	1,417	1,417
Net income for common stock	$ 65,900	$ 60,073	$ 152,201	$ 132,927
Basic earnings per common share (in dollars per share)	$ 0.61	$ 0.55	$ 1.40	$ 1.22
Diluted earnings per common share (in dollars per share)	$ 0.60	$ 0.55	$ 1.40	$ 1.22
Weighted-average number of common shares outstanding (in shares)	108,879	108,786	108,847	108,737
Net effect of potentially dilutive shares (in shares)	176	79	243	172
Weighted-average shares assuming dilution (in shares)	109,055	108,865	109,090	108,909
Hawaiian Electric Company, Inc. and Subsidiaries
Revenues
Total revenues	$ 687,409	$ 598,769	$ 1,865,962	$ 1,674,255
Expenses
Fuel oil	206,551	146,258	545,236	431,787
Purchased power	177,590	160,347	478,238	440,538
Other operation and maintenance	113,553	98,681	333,805	302,437
Depreciation	50,983	48,206	151,810	144,578
Taxes, other than income taxes	64,696	56,780	176,324	159,575
Total expenses	613,373	510,272	1,685,413	1,478,915
Operating income (loss)
Total operating income	74,036	88,497	180,549	195,340
Retirement defined benefits expense—other than service costs	(682)	(1,421)	(2,934)	(4,279)
Allowance for borrowed funds used during construction	1,006	1,339	3,815	3,371
Allowance for equity funds used during construction	1,962	3,482	8,239	8,908
Interest expense and other charges, net	(18,968)	(16,907)	(54,822)	(52,625)
Income before income taxes	57,354	74,990	134,847	150,715
Income taxes	7,144	27,005	24,995	54,623
Net income	50,210	47,985	109,852	96,092
Preferred stock dividends of subsidiaries	228	228	686	686
Net income attributable to Hawaiian Electric	49,982	47,757	109,166	95,406
Preferred stock dividends of Hawaiian Electric	270	270	810	810
Net income for common stock	49,712	47,487	108,356	94,596
Electric utility
Revenues
Total revenues	687,409	598,769	1,865,962	1,674,255
Expenses
Total expenses	613,373	510,272	1,685,413	1,478,915
Operating income (loss)
Total operating income	74,036	88,497	180,549	195,340
Income before income taxes	57,354	74,990	134,847	150,715
Income taxes	7,144	27,005	24,995	54,623
Net income	50,210	47,985	109,852	96,092
Preferred stock dividends of subsidiaries	498	498	1,496	1,496
Net income for common stock	49,712	47,487	108,356	94,596
Bank
Revenues
Total revenues	80,496	74,289	233,019	222,474
Expenses
Total expenses	53,232	47,313	153,951	146,146
Operating income (loss)
Total operating income	27,264	26,976	79,068	76,328
Income before income taxes	26,831	26,764	77,845	75,720
Income taxes	5,610	9,172	17,103	25,582
Net income	21,221	17,592	60,742	50,138
Preferred stock dividends of subsidiaries	0	0	0	0
Net income for common stock	21,221	17,592	60,742	50,138
Other
Revenues
Total revenues	143	127	218	299
Expenses
Total expenses	3,379	4,127	11,083	12,954
Operating income (loss)
Total operating income	(3,236)	(4,000)	(10,865)	(12,655)
Income before income taxes	(6,952)	(6,615)	(22,601)	(20,088)
Income taxes	(1,892)	(1,582)	(5,625)	(8,202)
Net income	(5,060)	(5,033)	(16,976)	(11,886)
Preferred stock dividends of subsidiaries	(27)	(27)	(79)	(79)
Net income for common stock	$ (5,033)	$ (5,006)	$ (16,897)	$ (11,807)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net income for common stock	$ 65,900	$ 60,073	$ 152,201	$ 132,927
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 tax benefits (taxes)	(5,123)	208	(22,768)	2,452
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	5,259	3,942	15,755	11,793
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,725)	(3,596)	(14,174)	(10,790)
Other comprehensive income (loss), net of taxes	(4,589)	554	(21,187)	3,909
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	61,311	60,627	131,014	136,836
Hawaiian Electric Company, Inc. and Subsidiaries
Net income for common stock	49,712	47,487	108,356	94,596
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	4,753	3,618	14,259	10,857
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,725)	(3,596)	(14,174)	(10,790)
Other comprehensive income (loss), net of taxes	28	22	85	521
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 49,740	$ 47,509	$ 108,441	$ 95,117

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net unrealized gains (losses) on securities arising during the period, (taxes) benefits	$ (1,876)	$ 137	$ (8,335)	$ 1,619
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)	(1,832)	(2,516)	(5,486)	(7,526)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, taxes	1,639	2,290	4,916	6,872
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)	(1,648)	(2,306)	(4,945)	(6,916)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, taxes	$ 1,639	$ 2,290	$ 4,916	$ 6,872

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 172,054	$ 261,881
Accounts receivable and unbilled revenues, net	336,309	263,209
Available-for-sale investment securities, at fair value	1,387,571	1,401,198
Held-to-maturity investment securities, at amortized cost	102,498	44,515
Stock in Federal Home Loan Bank, at cost	8,158	9,706
Loans held for investment, net	4,700,232	4,617,131
Loans held for sale, at lower of cost or fair value	1,036	11,250
Property, plant and equipment, net of accumulated depreciation	4,694,101	4,460,248
Regulatory assets	830,924	869,297
Other	596,481	513,535
Goodwill	82,190	82,190
Utility property, plant and equipment
Total property, plant and equipment, net	4,694,101	4,460,248
Current assets
Cash and cash equivalents	172,054	261,881
Other long-term assets
Total assets	12,911,554	12,534,160
Liabilities
Accounts payable	167,192	193,714
Interest and dividends payable	30,280	25,837
Deposit liabilities	6,130,415	5,890,597
Short-term borrowings—other than bank	203,359	117,945
Other bank borrowings	71,110	190,859
Long-term debt, net—other than bank	1,782,242	1,683,797
Deferred income taxes	385,651	388,430
Regulatory liabilities	932,352	880,770
Defined benefit pension and other postretirement benefit plans liability	496,753	509,514
Other	545,862	521,018
Total liabilities	10,745,216	10,402,481
Capitalization
Retained earnings	527,802	476,836
Accumulated other comprehensive loss, net of tax benefits	(63,128)	(41,941)
Total shareholders’ equity	2,132,045	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	30,280	25,837
Deferred credits and other liabilities
Deferred income taxes	385,651	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 September 30, 2018 and December 31, 2017, respectively	1,667,371	1,662,491
Retained earnings	527,802	476,836
Accumulated other comprehensive loss, net of tax benefits	(63,128)	(41,941)
Total shareholders’ equity	2,132,045	2,097,386
Total liabilities and shareholders’ equity	12,911,554	12,534,160
Hawaiian Electric Company, Inc. and Subsidiaries
Assets
Cash and cash equivalents	7,224	12,517
Property, plant and equipment, net of accumulated depreciation	4,406,519	4,248,539
Utility property, plant and equipment
Land	53,515	53,177
Plant and equipment	6,720,046	6,401,040
Less accumulated depreciation	(2,567,708)	(2,476,352)
Construction in progress	193,086	263,094
Utility property, plant and equipment, net	4,398,939	4,240,959
Nonutility property, plant and equipment, less accumulated depreciation	7,580	7,580
Total property, plant and equipment, net	4,406,519	4,248,539
Current assets
Cash and cash equivalents	7,224	12,517
Customer accounts receivable, net	178,785	127,889
Accrued unbilled revenues, net	127,702	107,054
Other accounts receivable, net	3,378	7,163
Fuel oil stock, at average cost	91,822	86,873
Materials and supplies, at average cost	58,507	54,397
Prepayments and other	60,732	25,355
Regulatory assets	89,430	88,390
Total current assets	617,580	509,638
Other long-term assets
Regulatory assets	741,494	780,907
Other	116,534	91,529
Total other long-term assets	858,028	872,436
Total assets	5,882,127	5,630,613
Liabilities
Interest and dividends payable	28,258	22,575
Deferred income taxes	401,069	394,041
Capitalization
Common stock ($6 2/3 par value, authorized 50,000,000 shares; outstanding 16,142,216 shares at September 30, 2018 and December 31, 2017)	107,634	107,634
Premium on capital stock	614,667	614,675
Retained earnings	1,155,070	1,124,193
Accumulated other comprehensive loss, net of tax benefits	(1,134)	(1,219)
Total shareholders’ equity	1,876,237	1,845,283
Preferred stock, no par value, authorized 10,000,000 shares; issued: none	34,293	34,293
Long-term debt, net	1,418,631	1,318,516
Total capitalization	3,329,161	3,198,092
Commitments and contingencies
Current liabilities
Current portion of long-term debt	49,993	49,963
Short-term borrowings from non-affiliates	85,913	4,999
Accounts payable	122,932	159,610
Interest and dividends payable	28,258	22,575
Taxes accrued, including revenue taxes	195,776	199,101
Regulatory liabilities	10,159	3,401
Other	81,054	59,456
Total current liabilities	574,085	499,105
Deferred credits and other liabilities
Deferred income taxes	401,069	394,041
Regulatory liabilities	922,193	877,369
Unamortized tax credits	93,073	90,369
Defined benefit pension and other postretirement benefit plans liability	460,279	472,948
Other	102,267	98,689
Total deferred credits and other liabilities	1,978,881	1,933,416
Shareholders’ equity
Preferred stock, no par value, authorized 10,000,000 shares; issued: none	34,293	34,293
Retained earnings	1,155,070	1,124,193
Accumulated other comprehensive loss, net of tax benefits	(1,134)	(1,219)
Total shareholders’ equity	1,876,237	1,845,283
Total liabilities and shareholders’ equity	$ 5,882,127	$ 5,630,613

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Property, plant and equipment, accumulated depreciation	$ 2,651,109	$ 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	$ 1,254	$ 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 Statem_4

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	132,927	94,596				132,927	94,596
Other comprehensive income (loss), net of tax (benefits)	3,909	521						3,909	521
Issuance of common stock, net of expenses	582		$ 582
Issuance of common stock, net of expenses (in shares)			203,000
Common stock dividends (93¢ per share)	(101,149)	(65,825)				(101,149)	(65,825)
Common stock issuance expenses		(4)			(4)
Ending Balance at Sep. 30, 2017	2,103,022	1,829,075	$ 1,661,492	$ 106,818	601,487	470,750	1,120,571	(29,220)	199
Ending Balance (in shares) at Sep. 30, 2017			108,786,000	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	$ 152,201	108,356				152,201	108,356
Other comprehensive income (loss), net of tax (benefits)	(21,187)	85						(21,187)	85
Issuance of common stock, net of expenses	4,880		$ 4,880
Issuance of common stock, net of expenses (in shares)			91,000
Common stock dividends (93¢ per share)	(101,235)	(77,479)				(101,235)	(77,479)
Common stock issuance expenses		(8)			(8)
Ending Balance at Sep. 30, 2018	$ 2,132,045	$ 1,876,237	$ 1,667,371	$ 107,634	$ 614,667	$ 527,802	$ 1,155,070	$ (63,128)	$ (1,134)
Ending Balance (in shares) at Sep. 30, 2018	108,879,245		108,879,000	16,142,000

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Shareholders' Equity and Common Stock Equity (unaudited) (Parenthetical) - $ / shares	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0.93	$ 0.93

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities
Net income	$ 153,618	$ 134,344
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment	159,646	150,123
Other amortization	31,473	15,362
Provision for loan losses	12,337	7,231
Loans originated and purchased, held for sale	(105,956)	(105,816)
Proceeds from sale of loans, held for sale	109,335	119,731
Deferred income taxes	10,823	21,397
Share-based compensation expense	5,891	4,383
Allowance for equity funds used during construction	(8,239)	(8,908)
Other	(4,524)	(1,350)
Changes in assets and liabilities
Increase in accounts receivable and unbilled revenues, net	(79,128)	(26,250)
Decrease (increase) in fuel oil stock	(5,060)	6,177
Decrease (increase) in regulatory assets	(6,474)	3,922
Increase (decrease) in accounts, interest and dividends payable	(7,122)	18,581
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	(32,006)	2,828
Increase in defined benefit pension and other postretirement benefit plans liability	7,517	670
Change in other assets and liabilities	15,548	(22,311)
Net cash provided by operating activities	257,679	320,114
Cash flows from investing activities
Available-for-sale investment securities purchased	(190,411)	(369,467)
Principal repayments on available-for-sale investment securities	168,334	155,026
Purchases of held-to-maturity investment securities	(62,096)	0
Principal repayments of held-to-maturity investment securities	4,007	0
Purchase of stock from Federal Home Loan Bank	(9,933)	(2,868)
Redemption of stock from Federal Home Loan Bank	11,480	4,380
Net decrease (increase) in loans held for investment	(96,212)	13,188
Proceeds from sale of commercial loans	7,149	31,427
Proceeds from sale of real estate acquired in settlement of loans	589	411
Capital expenditures	(404,984)	(343,375)
Contributions in aid of construction	24,361	40,603
Contributions to low income housing investments	(7,714)	0
Other	13,669	1,345
Net cash used in investing activities	(541,761)	(469,330)
Cash flows from financing activities
Net increase in deposit liabilities	137,443	203,397
Net increase in short-term borrowings with original maturities of three months or less	85,369	24,498
Net increase in retail repurchase agreements	32,626	24,469
Proceeds from other bank borrowings	237,000	59,500
Repayments of other bank borrowings	(287,000)	(123,034)
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	(1,867)	(265,000)
Withheld shares for employee taxes on vested share-based compensation	(996)	(3,796)
Common stock dividends	(101,235)	(101,149)
Preferred stock dividends of subsidiaries	(1,417)	(1,417)
Other	(5,668)	(9,531)
Net cash provided by financing activities	194,255	72,937
Net decrease in cash and cash equivalents	(89,827)	(76,279)
Cash and cash equivalents, beginning of period	261,881	278,452
Cash and cash equivalents, end of period	172,054	202,173
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income	109,852	96,092
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment	151,810	144,578
Other amortization	19,823	6,118
Deferred income taxes	12,835	29,537
Allowance for equity funds used during construction	(8,239)	(8,908)
Other	(1,952)	526
Changes in assets and liabilities
Increase in accounts receivable	(53,139)	(8,087)
Increase in accrued unbilled revenues	(20,648)	(18,014)
Decrease (increase) in fuel oil stock	(4,949)	6,177
Increase in materials and supplies	(4,110)	(2,280)
Decrease (increase) in regulatory assets	(6,474)	3,922
Increase (decrease) in accounts payable	(8,712)	6,130
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	(37,137)	5,291
Increase in defined benefit pension and other postretirement benefit plans liability	5,888	453
Change in other assets and liabilities	38,874	(2,662)
Net cash provided by operating activities	193,722	258,873
Cash flows from investing activities
Capital expenditures	(334,730)	(306,975)
Contributions in aid of construction	24,361	40,603
Other	9,811	8,114
Net cash used in investing activities	(300,558)	(258,258)
Cash flows from financing activities
Net increase in short-term borrowings with original maturities of three months or less	80,914	6,000
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	(77,479)	(65,825)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(1,496)	(1,496)
Other	(396)	(3,593)
Net cash provided by financing activities	101,543	(64,914)
Net decrease in cash and cash equivalents	(5,293)	(64,299)
Cash and cash equivalents, beginning of period	12,517	74,286
Cash and cash equivalents, end of period	$ 7,224	$ 9,987

Basis of presentation

Basis of presentation	9 Months Ended
	Sep. 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 September 30, 2018 and December 31, 2017 and the results of their operations for the three and nine months ended September 30, 2018 and 2017 and cash flows for the nine months ended September 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. The PUC approved in the Utilities’ rate cases, stipulated agreements to defer non-service cost components of NPPC and NPBC, which would have been capitalized prior to ASU No. 2017-07, as part of each utility’s pension tracking mechanisms. Such treatment is effective starting in 2018 and continues 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 each utility plans to seek to capitalize only the service components of NPPC and NPBC going forward, which reflects the requirements of ASU No. 2017-07. 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 September 30, 2017 Nine months ended September 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 $ 511,693 $ (1,421 ) $ 510,272 $ 1,483,194 $ (4,279 ) $ 1,478,915 Bank 47,525 (212 ) 47,313 146,754 (608 ) 146,146 Other 4,422 (295 ) 4,127 13,777 (823 ) 12,954 Total expenses 563,640 (1,928 ) 561,712 1,643,725 (5,710 ) 1,638,015 Operating income Electric utility 87,076 1,421 88,497 191,061 4,279 195,340 Bank 26,764 212 26,976 75,720 608 76,328 Other (4,295 ) 295 (4,000 ) (13,478 ) 823 (12,655 ) Total operating income 109,545 1,928 111,473 253,303 5,710 259,013 Retirement defined benefits expense--other than service costs — (1,928 ) (1,928 ) — (5,710 ) (5,710 ) Hawaiian Electric Condensed Consolidated Income Statement Other operation and maintenance 100,102 (1,421 ) 98,681 306,716 (4,279 ) 302,437 Total expense 511,693 (1,421 ) 510,272 1,483,194 (4,279 ) 1,478,915 Operating income 87,076 1,421 88,497 191,061 4,279 195,340 Retirement defined benefits expense--other than service costs — (1,421 ) (1,421 ) — (4,279 ) (4,279 ) Hawaiian Electric Condensed Consolidating Income Statement (in Note 3) Hawaiian Electric (parent only) Other operation and maintenance 66,221 (1,225 ) 64,996 204,460 (3,812 ) 200,648 Total expense 367,619 (1,225 ) 366,394 1,058,382 (3,812 ) 1,054,570 Operating income 61,648 1,225 62,873 128,142 3,812 131,954 Retirement defined benefits expense--other than service costs — (1,225 ) (1,225 ) — (3,812 ) (3,812 ) Hawaii Electric Light Other operation and maintenance 16,593 15 16,608 49,667 183 49,850 Total expense 71,292 15 71,307 212,692 183 212,875 Operating income 13,042 (15 ) 13,027 32,334 (183 ) 32,151 Retirement defined benefits expense--other than service costs — 15 15 — 183 183 Maui Electric Other operation and maintenance 17,288 (211 ) 17,077 52,589 (650 ) 51,939 Total expense 72,782 (211 ) 72,571 212,120 (650 ) 211,470 Operating income 12,416 211 12,627 30,636 650 31,286 Retirement defined benefits expense--other than service costs — (211 ) (211 ) — (650 ) (650 ) ASB Statements of Income Data (in Note 4) Compensation and employee benefits 23,724 (212 ) 23,512 71,703 (608 ) 71,095 Other expense 5,050 212 5,262 14,066 608 14,674 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. The Company plans to elect the practical expedient package provided by the new standard under which the Company will not have to reassess whether any expired or existing contracts are or contain leases, whether there is a change in lease classification for any expired or existing leases under the new standard, or whether there were initial direct costs for any existing leases that would be treated differently under the new standard. The Company also plans to elect the additional adoption method to initially apply the new requirements as of the effective date, i.e., January 1, 2019, by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Additionally, the Company will continue to report comparative periods presented in the financial statements in the period of adoption under ASC 840, including the required disclosures under ASC 840. The Company is in the process of analyzing the measurement provisions of the new standard and their impact on 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. Compensation-defined benefit plans . In August 2018, the FASB issued ASU 2018-14, “Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans,” that makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other postretirement benefit plans. The new guidance eliminates requirements for certain disclosures that are no longer considered cost beneficial and requires new ones that the FASB considers pertinent. ASU No. 2018-14 is effective for fiscal years ending after December 15, 2020 . The Company is evaluating the impact of the adoption of ASU No. 2018-14 on its financial statement disclosures, but does not expect it to have a material impact. Cloud computing implementation costs . In August 2018, the FASB issued ASU 2018-15, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” which requires a customer in a cloud computing arrangement that is a service contract to follow the internal use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets. Capitalized implementation costs related to a hosting arrangement that is a service contract will be amortized over the term of the hosting arrangement, beginning when the module or component of the hosting arrangement is ready for its intended use. ASU No. 2018-15 is effective for fiscal years beginning after December 15, 2019. The Company is evaluating the impact of the adoption of ASU No. 2018-15 on its consolidated financial statements. Condensed Consolidated Statements of Cash Flows error. Subsequent to the issuance of interim Condensed Consolidated Financial Statements (unaudited) for the quarter ended September 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 nine months ended September 30, 2017, the correction of this error resulted in increases 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 $29 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	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Segment financial information	Segment financial information (in thousands) Electric utility Bank Other Total Three months ended September 30, 2018 Revenues from external customers $ 687,396 $ 80,496 $ 156 $ 768,048 Intersegment revenues (eliminations) 13 — (13 ) — Revenues $ 687,409 $ 80,496 $ 143 $ 768,048 Income (loss) before income taxes $ 57,354 $ 26,831 $ (6,952 ) $ 77,233 Income taxes (benefit) 7,144 5,610 (1,892 ) 10,862 Net income (loss) 50,210 21,221 (5,060 ) 66,371 Preferred stock dividends of subsidiaries 498 — (27 ) 471 Net income (loss) for common stock $ 49,712 $ 21,221 $ (5,033 ) $ 65,900 Nine months ended September 30, 2018 Revenues from external customers $ 1,865,922 $ 233,019 $ 258 $ 2,099,199 Intersegment revenues (eliminations) 40 — (40 ) — Revenues $ 1,865,962 $ 233,019 $ 218 $ 2,099,199 Income (loss) before income taxes $ 134,847 $ 77,845 $ (22,601 ) $ 190,091 Income taxes (benefit) 24,995 17,103 (5,625 ) 36,473 Net income (loss) 109,852 60,742 (16,976 ) 153,618 Preferred stock dividends of subsidiaries 1,496 — (79 ) 1,417 Net income (loss) for common stock $ 108,356 $ 60,742 $ (16,897 ) $ 152,201 Total assets (at September 30, 2018) $ 5,882,127 $ 6,929,456 $ 99,971 $ 12,911,554 Three months ended September 30, 2017 Revenues from external customers $ 598,756 $ 74,289 $ 140 $ 673,185 Intersegment revenues (eliminations) 13 — (13 ) — Revenues $ 598,769 $ 74,289 $ 127 $ 673,185 Income (loss) before income taxes $ 74,990 $ 26,764 $ (6,615 ) $ 95,139 Income taxes (benefit) 27,005 9,172 (1,582 ) 34,595 Net income (loss) 47,985 17,592 (5,033 ) 60,544 Preferred stock dividends of subsidiaries 498 — (27 ) 471 Net income (loss) for common stock $ 47,487 $ 17,592 $ (5,006 ) $ 60,073 Nine months ended September 30, 2017 Revenues from external customers $ 1,674,158 $ 222,474 $ 396 $ 1,897,028 Intersegment revenues (eliminations) 97 — (97 ) — Revenues $ 1,674,255 $ 222,474 $ 299 $ 1,897,028 Income (loss) before income taxes $ 150,715 $ 75,720 $ (20,088 ) $ 206,347 Income taxes (benefit) 54,623 25,582 (8,202 ) 72,003 Net income (loss) 96,092 50,138 (11,886 ) 134,344 Preferred stock dividends of subsidiaries 1,496 — (79 ) 1,417 Net income (loss) for common stock $ 94,596 $ 50,138 $ (11,807 ) $ 132,927 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.

Electric utility segment

Electric utility segment	9 Months Ended
	Sep. 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 third quarters of 2018 and 2017 and the nine months ended September 30, 2018 and 2017 , the Utilities’ revenues include recovery of revenue taxes of approximately $61 million , $54 million , $166 million and $150 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. Power purchase agreements . As of September 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 September 30 Nine months ended September 30 (in millions) 2018 2017 2018 2017 Kalaeloa $ 62 $ 48 $ 154 $ 136 AES Hawaii 38 39 107 103 HPOWER 19 18 51 51 Puna Geothermal Venture — 10 15 28 Hamakua Energy 17 8 39 25 Other IPPs 1 41 38 112 98 Total IPPs $ 177 $ 161 $ 478 $ 441 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, 2019. 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 2017 and 2018, the Utilities filed project justification, status and cost reports; bottom-up, low-level analyses of the project’s benefits; and proposed performance metrics and tracking mechanism for passing the project’s benefits on to customers. Over the past years, the Utilities collaborated with the Consumer Advocate to reach substantive agreement regarding the approach for delivering the $244 million in system benefits to customers. On September 17, 2018, Utilities provided the Consumer Advocate with their final drafts of the rate case-centric benefit delivery mechanism and ERP/EAM annual enterprise systems benefits report for its review. The parties will file these documents with the PUC upon final agreement. Monthly reports on the status and costs of the project continue to be filed. The ERP/EAM Implementation Project went live in October 2018. In the Hawaiian Electric 2017 rate case, a settlement agreement approved by the PUC included authorization for the deferred project costs to accrue a return at 1.75% after the project goes into service and until the deferred project costs are included in rate base, and for amortization of the deferred costs to not begin until the amortization expense is incorporated in rates and the unamortized deferred project costs are included in rate base. As of September 30, 2018 , the Project incurred costs of $73.3 million of which $12.9 million were charged to other operation and maintenance (O&M) expense, $2.6 million relate to capital costs and $57.8 million are deferred costs. Schofield Generating Station Project. In June 2018, Hawaiian Electric placed into service a 50 MW utility owned and operated firm, renewable and dispatchable generation facility at Schofield Barracks. The project is located on land leased from the U.S. Army under a 35 -year lease. PUC orders resulted in a project cost cap of $157.3 million of which capital costs up to $141.6 million ( 90% of the cost cap) are recoverable through the Major Project Interim Recovery (MPIR) adjustment mechanism. Recovery of capital costs under the 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 incremental 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 September 30, 2018 amounted to $142.5 million . Cost recovery of capital costs in excess of $141.6 million is to be addressed in the next general rate case. 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 has provided supplemental materials, 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 September 30, 2018 amounted to $28.6 million . Hawaiian Telcom . The Utilities each had 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 allowed 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 maintained, replaced and installed the majority of the jointly-owned poles in each of the respective service territories, and billed the other joint pole owners for their respective share of the costs. The counties and the State had been reimbursing the Utilities for their share of the costs. However, Hawaiian Telcom had been delinquent in reimbursing the Utilities for its share of the costs. Hawaiian Telcom’s delinquency will be resolved by new agreements with Hawaiian Telcom approved by the PUC in October 2018. These new agreements provide for the purchase by the Utilities of Hawaiian Telcom’s interest in all the joint poles, and licensing and operating agreements between the Utilities and Hawaiian Telcom subsequent to the transfer of the joint pole interest to the Utilities. The Utilities’ consideration of approximately $48 million for acquiring Hawaiian Telcom’s interest in the poles will be offset in part by the receivables owed by Hawaiian Telcom to the Utilities. As of September 30, 2018 , receivables from Hawaiian Telcom under the joint pole agreement, net of a reserve for a portion of the interest, were $17.4 million ( $11.6 million at Hawaiian Electric, $4.7 million at Hawaii Electric Light, and $1.1 million at Maui Electric). The remaining consideration for acquiring Hawaiian Telcom’s interest in the joint poles will 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 September 30, 2018 , representing the probable and reasonably estimable 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 September 30, 2018 , the reserve account balance recorded by Hawaiian Electric to address the PCB contamination was $4.6 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 . The RAM is based on the lesser of: a) an inflationary adjustment for certain O&M expenses and return on investment for certain rate base changes, or b) cumulative annual compounded increase in Gross Domestic Product Price Index applied to annualized target revenues (the RAM Cap). Annualized target revenues 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 capital costs under the MPIR for Schofield generation station, which would adjust revenues in July through December 2018 by $3.4 million and be collected in customer bills beginning in June 2019. A decision on recovery of related incremental O&M expenses is pending. In February 2019, Hawaiian Electric will file an MPIR for 2019 (which will accrue effective January 1, 2019) which will include the 2019 return on project amount (up to the capped amount) in rate base, depreciation and incremental O&M expenses (if approved for recovery by the PUC), for collection from June 2020 through May 2021. 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 approved rate base (or maximum penalties of approximately $6.7 million - 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 approved rate base (or maximum penalties or incentives of approximately $1.3 million - in total for the three utilities). • Demand Response measured by the demand response resources acquired in 2018. The award is up to 5% of the aggregate annual contract value 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 a percentage of the 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. There are two phases to this incentive. Phase 1 has an incentive of 20% of the savings for purchased power agreements filed by December 31, 2018 and subsequently approved by the PUC, with a cap of $3.5 million for the three utilities in total. Phase 2 has scaled incentives of 15% , 10% and 5% of the savings for purchased power agreements filed in January, February and March 2019, respectively, and subsequently approved by the PUC, with a cap of $ 3 million for the three utilities in total. There are no penalties. 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 * The 2018 annual RAM adjusted revenues for Maui Electric terminated on August 23, 2018, the effective date of interim increase tariff rates that were implemented pursuant to the Interim D&O issued in the Maui Electric consolidated 2015 and 2018 rate case. ** 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 customer interests. The order stated that, in general, the PUC is interested in ratemaking elements and/or mechanisms that result in: • Greater cost control and reduced rate volatility; • Efficient investment and allocation of resources regardless of classification as capital or operating expense; • Fair distribution of risks between utilities and customers; and • Fulfillment of State policy goals. Through this investigation, the PUC intends to: (1) identify specific areas of utility performance that should be improved; (2) determine appropriate metrics for measuring successful outcomes in those areas; and (3) establish reasonable financial rewards and/or penalties that are sufficient to incent the utility to achieve those outcomes. The proceeding has two phases. Phase 1 examines the current regulatory framework and identifies those areas of utility performance that are deserving of further focus in Phase 2. The PUC provided staff reports to the parties, held technical workshops and the parties filed briefs on: 1) goals and outcomes and 2) assessment of the existing regulatory framework. Metrics will be discussed in late 2018, to be followed by a PUC staff proposal, parties’ statements of position, and a PUC order related to Phase 1, which is expected after March 2019. Phase 2 will address design and implementation of performance incentive mechanisms, revenue adjustment mechanisms and other regulatory reforms. Performance-based ratemaking legislation. On April 24, 2018, Senate Bill No. 2939 SD2 was signed into law, which establishes performance metrics that the PUC shall consider while establishing performance incentives and penalty mechanisms under a performance-based ratemaking model. The law requires that the PUC establish these performance-based ratemaking mechanisms on or before January 1, 2020. The PUC opened a proceeding on April 18, 2018. See “Performance-based regulation proceeding” above. Most recent rate proceedings. Hawaiian Electric consolidated 2014 and 2017 test year rate cases . In June 2014, Hawaiian Electric submitted its 2014 test year rate case filing, stating that it intended to forgo the opportunity to seek a general rate increase in base rates. In December 2016, Hawaiian Electric filed an application with the PUC for a general rate increase, and the PUC issued an order consolidating the Hawaiian Electric filings for the 2014 and 2017 test year rate cases. On February 16, 2018, Hawaiian Electric implemented an interim increase of $36.0 million . On April 13, 2018, Hawaiian Electric implemented an additional interim rate adjustment to adjust rates for the impact of the Tax Act. On June 22, 2018, the PUC issued i

Bank segment

Bank segment	9 Months Ended
	Sep. 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 September 30 Nine months ended September 30 (in thousands) 2018 2017 2018 2017 Interest and dividend income Interest and fees on loans $ 55,885 $ 52,210 $ 163,318 $ 155,269 Interest and dividends on investment securities 9,300 6,850 27,130 20,593 Total interest and dividend income 65,185 59,060 190,448 175,862 Interest expense Interest on deposit liabilities 3,635 2,444 9,876 6,858 Interest on other borrowings 404 470 1,293 2,110 Total interest expense 4,039 2,914 11,169 8,968 Net interest income 61,146 56,146 179,279 166,894 Provision for loan losses 6,033 490 12,337 7,231 Net interest income after provision for loan losses 55,113 55,656 166,942 159,663 Noninterest income Fees from other financial services 4,543 5,635 13,941 17,055 Fee income on deposit liabilities 5,454 5,533 15,781 16,526 Fee income on other financial products 1,746 1,904 5,075 5,741 Bank-owned life insurance 2,663 1,257 4,667 4,165 Mortgage banking income 169 520 1,399 1,896 Other income, net 736 380 1,708 1,229 Total noninterest income 15,311 15,229 42,571 46,612 Noninterest expense Compensation and employee benefits 23,952 23,512 72,047 71,095 Occupancy 4,363 4,284 12,837 12,623 Data processing 3,583 3,262 10,587 9,749 Services 2,485 2,863 8,560 7,989 Equipment 1,783 1,814 5,385 5,333 Office supplies, printing and postage 1,556 1,444 4,554 4,506 Marketing 993 934 2,723 2,290 FDIC insurance 638 746 2,078 2,296 Other expense 4,240 5,262 12,897 14,674 Total noninterest expense 43,593 44,121 131,668 130,555 Income before income taxes 26,831 26,764 77,845 75,720 Income taxes 5,610 9,172 17,103 25,582 Net income $ 21,221 $ 17,592 $ 60,742 $ 50,138 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2018 2017 2018 2017 Interest and dividend income 65,185 59,060 $ 190,448 $ 175,862 Noninterest income 15,311 15,229 42,571 46,612 *Revenues-Bank 80,496 74,289 233,019 222,474 Total interest expense 4,039 2,914 11,169 8,968 Provision for loan losses 6,033 490 12,337 7,231 Noninterest expense 43,593 44,121 131,668 130,555 Less: Retirement defined benefits expense—other than service costs (433 ) (212 ) (1,223 ) (608 ) *Expenses-Bank 53,232 47,313 153,951 146,146 *Operating income-Bank 27,264 26,976 79,068 76,328 Add back: Retirement defined benefits expense—other than service costs 433 212 1,223 608 Income before income taxes $ 26,831 $ 26,764 $ 77,845 $ 75,720 American Savings Bank, F.S.B. Statements of Comprehensive Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2018 2017 2018 2017 Net income $ 21,221 $ 17,592 $ 60,742 $ 50,138 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 $1,876, $(137), $8,335 and $(1,619), respectively (5,123 ) 208 (22,768 ) 2,452 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 $141, $138, $968 and $675, respectively 382 209 1,970 1,023 Other comprehensive income (loss), net of taxes (4,741 ) 417 (20,798 ) 3,475 Comprehensive income $ 16,480 $ 18,009 $ 39,944 $ 53,613 American Savings Bank, F.S.B. Balance Sheets Data (in thousands) September 30, 2018 December 31, 2017 Assets Cash and due from banks $ 119,453 $ 140,934 Interest-bearing deposits 39,575 93,165 Investment securities Available-for-sale, at fair value 1,387,571 1,401,198 Held-to-maturity, at amortized cost (fair value of $99,929 and $44,412, respectively) 102,498 44,515 Stock in Federal Home Loan Bank, at cost 8,158 9,706 Loans held for investment 4,754,359 4,670,768 Allowance for loan losses (54,127 ) (53,637 ) Net loans 4,700,232 4,617,131 Loans held for sale, at lower of cost or fair value 1,036 11,250 Other 488,743 398,570 Goodwill 82,190 82,190 Total assets $ 6,929,456 $ 6,798,659 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,789,351 $ 1,760,233 Deposit liabilities—interest-bearing 4,341,064 4,130,364 Other borrowings 71,110 190,859 Other 115,401 110,356 Total liabilities 6,316,926 6,191,812 Commitments and contingencies Common stock 1 1 Additional paid in capital 346,757 345,018 Retained earnings 317,519 292,957 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (37,719 ) $ (14,951 ) Retirement benefit plans (14,028 ) (51,747 ) (16,178 ) (31,129 ) Total shareholder’s equity 612,530 606,847 Total liabilities and shareholder’s equity $ 6,929,456 $ 6,798,659 Other assets Bank-owned life insurance $ 150,772 $ 148,775 Premises and equipment, net 203,062 136,270 Prepaid expenses 5,477 3,961 Accrued interest receivable 19,818 18,724 Mortgage-servicing rights 8,426 8,639 Low-income housing equity investments 69,865 59,016 Real estate acquired in settlement of loans, net 438 133 Other 30,885 23,052 $ 488,743 $ 398,570 Other liabilities Accrued expenses $ 56,830 $ 39,312 Federal and state income taxes payable 1,287 3,736 Cashier’s checks 23,711 27,000 Advance payments by borrowers 4,998 10,245 Other 28,575 30,063 $ 115,401 $ 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 $71 million and nil , respectively, as of September 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 September 30, 2018 Available-for-sale U.S. Treasury and federal agency obligations $ 175,144 $ 24 $ (4,754 ) $ 170,414 11 $ 67,258 $ (1,339 ) 17 $ 93,132 $ (3,415 ) Mortgage-related securities- FNMA, FHLMC and GNMA 1,195,492 292 (47,094 ) 1,148,690 59 473,714 (13,996 ) 111 666,149 (33,098 ) Corporate bonds 49,378 46 (41 ) 49,383 5 22,839 (41 ) — — — Mortgage revenue bonds 19,084 — — 19,084 — — — — — — $ 1,439,098 $ 362 $ (51,889 ) $ 1,387,571 75 $ 563,811 $ (15,376 ) 128 $ 759,281 $ (36,513 ) Held-to-maturity Mortgage-related securities- FNMA, FHLMC and GNMA $ 102,498 $ — $ (2,569 ) $ 99,929 7 $ 99,929 $ (2,569 ) — $ — $ — $ 102,498 $ — $ (2,569 ) $ 99,929 7 $ 99,929 $ (2,569 ) — $ — $ — 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 September 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 nine months ended September 30, 2018 and 2017 . U.S. Treasury, federal agency obligations, corporate bonds, and mortgage revenue bonds 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: September 30, 2018 Amortized cost Fair value (in thousands) Available-for-sale Due in one year or less $ 25,004 $ 24,896 Due after one year through five years 108,364 106,774 Due after five years through ten years 82,720 80,439 Due after ten years 27,518 26,772 243,606 238,881 Mortgage-related securities-FNMA, FHLMC and GNMA 1,195,492 1,148,690 Total available-for-sale securities $ 1,439,098 $ 1,387,571 Held-to-maturity Mortgage-related securities-FNMA, FHLMC and GNMA $ 102,498 $ 99,929 Total held-to-maturity securities $ 102,498 $ 99,929 Proceeds from the sale of available-for-sale securities were nil for both the three and nine months ended September 30, 2018 and 2017 . Gross realized gains and losses were nil for both the three and nine months ended September 30, 2018 and 2017 . Loans. The components of loans were summarized as follows: September 30, 2018 December 31, 2017 (in thousands) Real estate: Residential 1-4 family $ 2,110,489 $ 2,118,047 Commercial real estate 733,749 733,106 Home equity line of credit 949,872 913,052 Residential land 12,982 15,797 Commercial construction 112,838 108,273 Residential construction 13,441 14,910 Total real estate 3,933,371 3,903,185 Commercial 574,243 544,828 Consumer 247,058 223,564 Total loans 4,754,672 4,671,577 Less: Deferred fees and discounts (313 ) (809 ) Allowance for loan losses (54,127 ) (53,637 ) Total loans, net $ 4,700,232 $ 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 September 30, 2018 Allowance for loan losses: Beginning balance $ 2,939 $ 15,298 $ 7,334 $ 642 $ 4,616 $ 4 $ 10,161 $ 11,809 $ — $ 52,803 Charge-offs — — (80 ) (1 ) — — (788 ) (4,508 ) — (5,377 ) Recoveries 5 — 71 122 — — 105 365 — 668 Provision (623 ) (1,033 ) (347 ) (296 ) (356 ) — 1,255 7,433 — 6,033 Ending balance $ 2,321 $ 14,265 $ 6,978 $ 467 $ 4,260 $ 4 $ 10,733 $ 15,099 $ — $ 54,127 Three months ended September 30, 2017 Allowance for loan losses: Beginning balance $ 3,130 $ 18,840 $ 5,527 $ 1,264 $ 4,706 $ 9 $ 14,552 $ 8,328 $ — $ 56,356 Charge-offs (522 ) — — — — — (1,215 ) (3,160 ) — (4,897 ) Recoveries 33 — 164 259 — — 326 316 — 1,098 Provision 347 (2,800 ) (36 ) (141 ) 370 2 (595 ) 3,343 — 490 Ending balance $ 2,988 $ 16,040 $ 5,655 $ 1,382 $ 5,076 $ 11 $ 13,068 $ 8,827 $ — $ 53,047 Nine months ended September 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 ) — (224 ) (18 ) — — (1,930 ) (12,628 ) — (14,831 ) Recoveries 73 — 98 173 — — 1,555 1,085 — 2,984 Provision (623 ) (1,531 ) (418 ) (584 ) (411 ) (8 ) 257 15,655 — 12,337 Ending balance $ 2,321 $ 14,265 $ 6,978 $ 467 $ 4,260 $ 4 $ 10,733 $ 15,099 $ — $ 54,127 September 30, 2018 Ending balance: individually evaluated for impairment $ 1,020 $ 51 $ 1,088 $ — $ — $ — $ 728 $ 3 $ 2,890 Ending balance: collectively evaluated for impairment $ 1,301 $ 14,214 $ 5,890 $ 467 $ 4,260 $ 4 $ 10,005 $ 15,096 $ — $ 51,237 Financing Receivables: Ending balance $ 2,110,489 $ 733,749 $ 949,872 $ 12,982 $ 112,838 $ 13,441 $ 574,243 $ 247,058 $ 4,754,672 Ending balance: individually evaluated for impairment $ 17,703 $ 981 $ 14,602 $ 2,057 $ — $ — $ 5,727 $ 90 $ 41,160 Ending balance: collectively evaluated for impairment $ 2,092,786 $ 732,768 $ 935,270 $ 10,925 $ 112,838 $ 13,441 $ 568,516 $ 246,968 $ 4,713,512 Nine months ended September 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 (528 ) — (14 ) (92 ) — — (3,477 ) (8,360 ) — (12,471 ) Recoveries 91 — 294 477 — — 922 970 — 2,754 Provision 552 36 336 (741 ) (1,373 ) (1 ) (995 ) 9,417 — 7,231 Ending balance $ 2,988 $ 16,040 $ 5,655 $ 1,382 $ 5,076 $ 11 $ 13,068 $ 8,827 $ — $ 53,047 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: September 30, 2018 December 31, 2017 (in thousands) Commercial real estate Commercial construction Commercial Commercial real estate Commercial construction Commercial Grade: Pass $ 651,524 $ 88,049 $ 523,335 $ 630,877 $ 83,757 $ 492,942 Special mention 35,642 22,500 18,512 49,347 22,500 27,997 Substandard 46,583 2,289 32,396 52,882 2,016 23,421 Doubtful — — — — — 468 Loss — — — — — — Total $ 733,749 $ 112,838 $ 574,243 $ 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 September 30, 2018 Real estate: Residential 1-4 family $ 2,000 $ 2,254 $ 4,132 $ 8,386 $ 2,102,103 $ 2,110,489 $ — Commercial real estate — — — — 733,749 733,749 — Home equity line of credit 1,375 493 3,194 5,062 944,810 949,872 — Residential land — — 418 418 12,564 12,982 — Commercial construction — — — — 112,838 112,838 — Residential construction — — — — 13,441 13,441 — Commercial 1,053 417 463 1,933 572,310 574,243 — Consumer 4,679 2,200 1,969 8,848 238,210 247,058 — Total loans $ 9,107 $ 5,364 $ 10,176 $ 24,647 $ 4,730,025 $ 4,754,672 $ — 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) September 30, 2018 December 31, 2017 Real estate: Residential 1-4 family $ 12,768 $ 12,598 Commercial real estate — — Home equity line of credit 7,191 4,466 Residential land 516 841 Commercial construction — — Residential construction — — Commercial 4,176 3,069 Consumer 3,266 2,617 Total nonaccrual loans $ 27,917 $ 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 $ 10,701 $ 10,982 Commercial real estate 981 1,016 Home equity line of credit 11,131 6,584 Residential land 1,542 425 Commercial construction — — Residential construction — — Commercial 1,806 1,741 Consumer 63 66 Total troubled debt restructured loans not included above $ 26,224 $ 20,814 The total carrying amount and the total unpaid principal balance of impaired loans were as follows: September 30, 2018 Three months ended September 30, 2018 Nine months ended September 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 $ 8,689 $ 9,200 $ — $ 8,940 $ 239 $ 8,779 $ 396 Commercial real estate — — — — — — — Home equity line of credit 2,359 2,714 — 2,234 23 2,103 35 Residential land 2,057 2,256 — 1,773 6 1,358 16 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 3,948 4,915 — 3,915 6 3,099 26 Consumer 32 32 — 33 — 18 — $ 17,085 $ 19,117 $ — $ 16,895 $ 274 $ 15,357 $ 473 With an allowance recorded Real estate: Residential 1-4 family $ 9,014 $ 9,218 $ 1,020 $ 8,820 $ 84 $ 8,909 $ 274 Commercial real estate 981 981 51 985 11 997 32 Home equity line of credit 12,243 12,327 1,088 12,090 111 10,083 288 Residential land — — — 20 — 45 3 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 1,779 1,779 728 1,774 28 1,824 94 Consumer 58 58 3 57 1 58 3 $ 24,075 $ 24,363 $ 2,890 $ 23,746 $ 235 $ 21,916 $ 694 Total Real estate: Residential 1-4 family $ 17,703 $ 18,418 $ 1,020 $ 17,760 $ 323 $ 17,688 $ 670 Commercial real estate 981 981 51 985 11 997 32 Home equity line of credit 14,602 15,041 1,088 14,324 134 12,186 323 Residential land 2,057 2,256 — 1,793 6 1,403 19 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 5,727 6,694 728 5,689 34 4,923 120 Consumer 90 90 3 90 1 76 3 $ 41,160 $ 43,480 $ 2,890 $ 40,641 $ 509 $ 37,273 $ 1,167 December 31, 2017 Three months ended September 30, 2017 Nine months ended September 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 $ — $ 9,650 $ 70 $ 9,503 $ 230 Commercial real estate — — — — — 121 11 Home equity line of credit 1,496 1,789 — 1,918 32 2,108 97 Residential land 1,143 1,434 — 1,209 73 1,080 107 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 2,328 3,166 — 1,808 29 2,888 37 Consumer 8 8 — — — — — $ 14,072 $ 16,041 $ — $ 14,585 $ 204 $ 15,700 $ 482 With an allowance recorded Real estate: Residential 1-4 family $ 9,187 $ 9,390 $ 1,248 $ 9,788 $ 97 $ 9,963 $ 333 Commercial real estate 1,016 1,016 65 1,284 13 1,292 41 Home equity line of credit 6,692 6,736 647 5,076 68 4,670 164 Residential land 122 122 47 1,251 12 1,620 73 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 2,246 2,252 694 2,482 225 4,104 694 Consumer 58 58 29 67 1 55 2 $ 19,321 $ 19,574 $ 2,730 $ 19,948 $ 416 $ 21,704 $ 1,307 Total Real estate: Residential 1-4 family $ 18,284 $ 19,034 $ 1,248 $ 19,438 $ 167 $ 19,466 $ 563 Commercial real estate 1,016 1,016 65 1,284 13 1,413 52 Home equity line of credit 8,188 8,525 647 6,994 100 6,778 261 Residential land 1,265 1,556 47 2,460 85 2,700 180 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 4,574 5,418 694 4,290 254 6,992 731 Consumer 66 66 29 67 1 55 2 $ 33,393 $ 35,615 $ 2,730 $ 34,533 $ 620 $ 37,404 $ 1,789 * 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. 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 third quarters and first nine months of 2018 and 2017 and the impact on the allowance for loan losses were as follows: Three months ended September 30, 2018 Nine months ended September 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 3 $ 632 $ 649 $ 1 4 $ 971 $ 993 $ 17 Commercial real estate — — — — — — — — Home equity line of credit 16 1,584 1,585 263 55 7,092 7,097 1,205 Residential land 3 1,562 1,568 — 4 1,671 1,677 — Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial 6 256 256 134 13 2,550 2,550 176 Consumer — — — — — — — — 28 $ 4,034 $ 4,058 $ 398 76 $ 12,284 $ 12,317 $ 1,398 Three months ended September 30, 2017 Nine months ended September 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 $ 83 $ 83 $ — 7 $ 955 $ 963 $ 45 Commercial real estate — — — — — — — — Home equity line of credit 15 862 862 184 28 1,386 1,372 277 Residential land — — — — — — — — Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial 1 330 330 38 2 672 672 38 Consumer — — — — 1 59 59 27 18 $ 1,275 $ 1,275 $ 222 38 $ 3,072 $ 3,066 $ 387 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 third quarters and first nine 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 September 30, 2018 Nine months ended September 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 81 Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial — — 1 291 Consumer — — — — — $ — 2 $ 372 Three months ended September 30, 2017 Nine months ended September 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 Commercial real estate — — — — Home equity line of credit — — — — Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial — — — — Consumer — — — — — $ — 1 $ 222 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 $0.06 million and nil at September 30, 2018 and December 31, 2017 , respectively. 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 September 30, 2018 and December 31, 2017 , respectively. Mortgage servicing rights (MSRs) . In its mortgage banking business, ASB sells residential mortgage loans to government-sponsored entities and other parties, who may issue securities backed by pools of such loans. ASB retains no beneficial interests in these loans other than the servicing rights of certain loans sold. ASB received proceeds from the sale of residential mortgages of $31.9 million and $39.8 million for the three months ended September 30, 2018 and 2017 and $109.3 million and $119.7 million for the nine months ended September 30, 2018 and 2017 , respectively, and recognized gains on such sales of $0.2 million and $0.5 million for the three months ended September 30, 2018 and 2017 and $1.4 million and $1.9 million for the nine months ended September 30, 2018 and 2017 , respectively. There were no repurchased mortgage loans for the three and nine months ended September 30, 2018 and 2017 . The repurchase reserve was $0.1 million as of September 30, 2018 and 2017 . Mortgage servicing fees, a component of other income, net, were $0.7 million and $0.8 million for the three months ended September 30, 2018 and 2017 , respectively, and $2.2 million and $2.3 million for the nine months ended September 30, 2018 and 2017 , respectively. Changes in the carrying value of MSRs were as follows: (in thousands) Gross 1 Accumulated amortization 1 Valuation allowance Net September 30, 2018 $ 18,543 $ (10,117 ) $ — $ 8,426 December 31, 2017 17,511 (8,872 ) — 8,639 1 Reflects the impact of loans paid in full. Changes related to MSRs were as follows: Three months ended September 30 Nine months ended September 30 (in thousands) 2018 2017 2018 2017 Mortgage servicing rights Beginning balance $ 8,509 $ 9,181 $ 8,639 $ 9,373 Amount capitalized 305 394 1,032 1,192 Amortization (388 ) (505 ) (1,245 ) (1,495 ) Other-than-temporary impairment — — — — Carrying amount before valuation allowance 8,426 9,070 8,426 9,070 Valuation allowance for mortgage servicing rights Beginning balance — — — — Provision (recovery) — — — — Other-than-temporary impairment — — — — Ending balance — — — — Net carrying value of mortgage servicing rights $ 8,426 $ 9,070 $ 8,426 $ 9,070 ASB capitalizes MSRs acquired upon the sale of mortgage loans with servicing rights retained. On a monthly basis, ASB compares the net carrying value of the MSRs to its fair value to determine if there are any changes to the valuation allowance and/or other-than-temporary impairment for the MSRs. ASB uses a present value cash flow model 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 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. Key assumptions used in estimating the fair value of ASB’s MSRs used in the impairment analysis were as follows: (dollars in thousands) September 30, 2018 December 31, 2017 Unpaid principal balance $ 1,206,025 $ 1,195,454 Weighted average note rate 3.98 % 3.94 % Weighted average discount rate 10.0 % 10.0 % Weighted average prepayment speed 7.0 % 9.0 % The sensitivity analysis of fair value of MSRs to hypothetical adverse changes of 25 and 50 basis points in certain key assumptions was as follows: (dollars in thousands) September 30, 2018 December 31, 2017 Prepayment rate: 25 basis points adverse rate change $ (379 ) $ (869 ) 50 basis points adverse rate change (836 ) (1,828 ) Discount rate: 25 basis points adverse rate change (134 ) (111 ) 50 basis points adverse rate change (265 ) (220 ) The effect of a variation in certain assumptions on fair value is calculated without changing any other assumptions. This analysis typically cannot be extrapolated because the relationship of a change in one key assumption to the changes in the fair value of MSRs typically is not linear. Other borrowings. Securities sold under agreements to repurchase are accounted for as financing transactions and the obligations to repurchase these securities are recorded as liabilities in the condensed consolidated balance sheets. ASB pledges investment securities as collateral for securities sold under agreements to repurchase. All such agreements are subject to master netting arrangements, which provide for a conditional right of set-off in case of default by either party; however, ASB presents securities sold under agreements to repurchase on a gross basis in the balance sheet. The following tables present information about the securities sold under agreements to repurchase, including the related collateral received from or pledged to counterparties: (in millions) Gross amount of recognized liabilities Gross amount offset in the Balance Sheet Net amount of liabilities presented in the Balance Sheet Repurchase agreements September 30, 2018 $ 71 $ — $ 71 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 Commercial account holders September 30, 2018 $ 71 $ 154 $ — December 31, 2017 141 165 — T

Credit agreements and long-term

Credit agreements and long-term debt	9 Months Ended
	Sep. 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 September 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 September 30, 2018, no amounts were outstanding under the facility. The loan is guaranteed by HEI. On October 4, 2018, HEI closed on a private placement transaction to issue $150 million senior unsecured notes in two tranches, as follows: HEI Series 2018A HEI Series 2018B Aggregate principal amount due at maturity $50 million $100 million Fixed coupon interest rate 4.58% 4.72% Maturity date December 15, 2025 December 15, 2028 Draw date October 4, 2018 December 18, 2018 Proceeds from the HEI Series 2018A tranche were used to repay HEI’s $50 million short-term borrowing with The Bank of Tokyo-Mitsubishi UFJ, Ltd. Proceeds to be received from the HEI Series 2018B tranche will be used for general corporate purposes, including contributions to Hawaiian Electric to maintain a targeted equity capitalization structure. The note purchase agreement contains certain restrictive financial covenants that are substantially the same as the financial covenants contained in HEI’s senior credit facility, as amended.

Shareholders' equity

Shareholders' equity	9 Months Ended
	Sep. 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) (22,768 ) — 1,581 (21,187 ) — 85 85 Balance, September 30, 2018 $ (37,719 ) $ — $ (25,409 ) $ (63,128 ) $ — $ (1,134 ) $ (1,134 ) Balance, December 31, 2016 $ (7,931 ) $ (454 ) $ (24,744 ) $ (33,129 ) $ (454 ) $ 132 $ (322 ) Current period other comprehensive income 2,452 454 1,003 3,909 454 67 521 Balance, September 30, 2017 $ (5,479 ) $ — $ (23,741 ) $ (29,220 ) $ — $ 199 $ 199 Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Three months ended September 30 Nine months ended September 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 5,259 3,942 15,755 11,793 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (4,725 ) (3,596 ) (14,174 ) (10,790 ) See Note 8 for additional details Total reclassifications $ 534 $ 346 $ 1,581 $ 1,457 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 4,753 3,618 14,259 10,857 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (4,725 ) (3,596 ) (14,174 ) (10,790 ) See Note 8 for additional details Total reclassifications $ 28 $ 22 $ 85 $ 521

Revenues

Revenues	9 Months Ended
	Sep. 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. The Utilities have elected to present these revenue adjustments on a gross basis, which results in the amounts being billed to customers presented in revenues from contracts with customers and the amortization of the related regulatory asset/liability as revenues from other sources. Depending on whether the previous deferral balance being amortized was a regulatory asset or regulatory liability, and depending on the size and direction of the current year deferral of surcharges and/or refunds to customers, it could result in negative regulatory revenue during the year. 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 September 30, 2018 Nine months ended September 30, 2018 Electric utility Bank Other Total Electric utility Bank Other Total (in thousands) Revenues from contracts with customers Electric energy sales - residential $ 222,196 $ — $ — $ 222,196 $ 586,002 $ — $ — $ 586,002 Electric energy sales - commercial 229,476 — — 229,476 624,643 — — 624,643 Electric energy sales - large light and power 242,457 — — 242,457 649,454 — — 649,454 Electric energy sales - other 3,464 — — 3,464 9,944 — — 9,944 Utility fees 832 — — 832 2,380 — — 2,380 Bank fees — 11,743 — 11,743 — 34,797 — 34,797 Total revenues from contracts with customers 698,425 11,743 — 710,168 1,872,423 34,797 — 1,907,220 Revenues from other sources Regulatory revenue (13,572 ) — — (13,572 ) (13,465 ) — — (13,465 ) Bank interest and dividend income — 65,185 — 65,185 — 190,448 — 190,448 Other bank noninterest income — 3,568 — 3,568 — 7,774 — 7,774 Other 2,556 — 143 2,699 7,004 — 218 7,222 Total revenues from other sources (11,016 ) 68,753 143 57,880 (6,461 ) 198,222 218 191,979 Total revenues $ 687,409 $ 80,496 $ 143 $ 768,048 $ 1,865,962 $ 233,019 $ 218 $ 2,099,199 Timing of revenue recognition Services/goods transferred at a point in time $ 832 $ 11,743 $ — $ 12,575 $ 2,380 $ 34,797 $ — $ 37,177 Services/goods transferred over time 697,593 — — 697,593 1,870,043 — — 1,870,043 Total revenues from contracts with customers $ 698,425 $ 11,743 $ — $ 710,168 $ 1,872,423 $ 34,797 $ — $ 1,907,220 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 nine months ended September 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 September 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 ASB, fees are recognized when a transaction is completed.

Retirement benefits

Retirement benefits	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
Retirement benefits	Retirement benefits Defined benefit pension and other postretirement benefit plans information. For the first nine months of 2018 , the Company contributed $38 million ( $37 million by the Utilities) to its pension and other postretirement benefit plans, compared to $50 million ( $49 million by the Utilities) in the first nine months of 2017 . The Company’s current estimate of contributions to its pension and other postretirement benefit plans in 2018 is $38 million ( $37 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 September 30 Nine months ended September 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2018 2017 2018 2017 2018 2017 2018 2017 HEI consolidated Service cost $ 17,223 $ 16,271 $ 680 $ 843 $ 51,764 $ 48,635 $ 2,041 $ 2,530 Interest cost 19,340 20,304 1,986 2,363 58,033 60,881 5,947 7,089 Expected return on plan assets (27,237 ) (25,689 ) (3,224 ) (3,078 ) (81,715 ) (77,056 ) (9,683 ) (9,248 ) Amortization of net prior service gain (11 ) (14 ) (451 ) (448 ) (32 ) (41 ) (1,354 ) (1,345 ) Amortization of net actuarial loss 7,527 6,638 25 283 22,556 19,858 71 848 Net periodic pension/benefit cost (return) 16,842 17,510 (984 ) (37 ) 50,606 52,277 (2,978 ) (126 ) Impact of PUC D&Os 7,785 (4,534 ) 953 346 17,621 (14,557 ) 3,048 1,019 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 24,627 $ 12,976 $ (31 ) $ 309 $ 68,227 $ 37,720 $ 70 $ 893 Hawaiian Electric consolidated Service cost $ 16,840 $ 15,764 $ 676 $ 839 $ 50,520 $ 47,294 $ 2,028 $ 2,515 Interest cost 17,824 18,659 1,907 2,279 53,471 55,974 5,721 6,837 Expected return on plan assets (25,593 ) (23,973 ) (3,178 ) (3,037 ) (76,777 ) (71,919 ) (9,534 ) (9,110 ) Amortization of net prior service loss (gain) 2 2 (451 ) (451 ) 6 6 (1,353 ) (1,353 ) Amortization of net actuarial loss 6,826 6,098 25 275 20,477 18,294 74 826 Net periodic pension/benefit cost (return) 15,899 16,550 (1,021 ) (95 ) 47,697 49,649 (3,064 ) (285 ) Impact of PUC D&Os 7,785 (4,534 ) 953 346 17,621 (14,557 ) 3,048 1,019 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 23,684 $ 12,016 $ (68 ) $ 251 $ 65,318 $ 35,092 $ (16 ) $ 734 HEI consolidated recorded retirement benefits expense of $43 million ($ 40 million by the Utilities) and $25 million ( $22 million by the Utilities) in the first nine 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 nine 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 $4.8 million and $5.1 million , respectively, and cash contributions were $5.9 million and $5.0 million , respectively. For the first nine months of 2018 and 2017 , the Utilities’ expenses for its defined contribution pension plan under the HEIRSP were $ 1.7 million and $1.4 million , respectively, and cash contributions were $ 1.7 million and $1.4 million , respectively.

Share-based compensation

Share-based compensation	9 Months Ended
	Sep. 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 September 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 September 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 September 30 Nine months ended September 30 (in millions) 2018 2017 2018 2017 HEI consolidated Share-based compensation expense 1 $ 1.5 $ 1.1 $ 5.9 $ 4.4 Income tax benefit 0.2 0.4 0.9 1.5 Hawaiian Electric consolidated Share-based compensation expense 1 0.6 0.4 2.1 1.6 Income tax benefit 0.1 0.2 0.4 0.6 1 For the three and nine months ended September 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 September 30 Nine months ended September 30 (dollars in millions) 2018 2017 2018 2017 Shares granted — — 38,821 35,770 Fair value $ — $ — $ 1.3 $ 1.2 Income tax benefit — — 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 September 30 Nine months ended September 30 2018 2017 2018 2017 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 200,856 $ 33.03 206,483 $ 31.50 197,047 $ 31.53 220,683 $ 29.57 Granted 1,789 35.61 — — 93,853 34.12 97,873 33.47 Vested — — (687 ) 24.48 (75,683 ) 30.56 (89,681 ) 28.84 Forfeited (2,287 ) 32.83 — — (14,859 ) 32.35 (23,079 ) 31.50 Outstanding, end of period 200,358 $ 33.05 205,796 $ 31.53 200,358 $ 33.05 205,796 $ 31.53 Total weighted-average grant-date fair value of shares granted (in millions) $ 0.1 $ — $ 3.2 $ 3.3 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant. For the first nine months of 2018 and 2017 , total restricted stock units and related dividends that vested had a fair value of $2.7 million and $3.4 million , respectively, and the related tax benefits were $0.4 million and $1.1 million , respectively. As of September 30, 2018 , there was $4.8 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 2.6 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 relevant 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 September 30 Nine months ended September 30 2018 2017 2018 2017 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 66,177 $ 38.82 33,770 $ 39.51 32,904 $ 39.51 83,106 $ 22.95 Granted 878 38.20 — — 37,819 38.21 37,204 39.51 Vested (issued or unissued and cancelled) — — — — — — (83,106 ) 22.95 Forfeited (1,490 ) 38.85 — — (5,158 ) 38.84 (3,434 ) 39.51 Outstanding, end of period 65,565 $ 38.81 33,770 $ 39.51 65,565 $ 38.81 33,770 $ 39.51 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ — $ 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 nine months ended September 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 September 30, 2018 , there was $1.5 million of total unrecognized compensation cost related to the nonvested performance awards payable in shares linked to TSR. The cost is expected to be recognized over a weighted-average period of 1.8 years . LTIP awards linked to other performance conditions . Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows: Three months ended September 30 Nine months ended September 30 2018 2017 2018 2017 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 264,707 $ 33.79 135,078 $ 33.47 131,616 $ 33.47 109,816 $ 25.18 Granted 3,511 35.58 — — 151,277 34.12 148,818 33.47 Vested — — — — — — (109,816 ) 25.18 Forfeited (5,958 ) 33.80 — — (20,633 ) 33.80 (13,740 ) 33.48 Outstanding, end of period 262,260 $ 33.82 135,078 $ 33.47 262,260 $ 33.82 135,078 $ 33.47 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ 0.1 $ — $ 5.2 $ 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 nine months ended September 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 September 30, 2018 , there was $5.4 million of total unrecognized compensation cost related to the nonvested shares linked to performance conditions other than TSR. The cost is expected to be recognized over a weighted-average period of 1.8 years .

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The Company’s and the Utilities’ effective tax rates were 19% and 19% , respectively, for the nine months ended September 30, 2018. These rates differed from statutory rates, due to state income taxes and the amortization of excess deferred income taxes related to the provision in the Tax Act that lowered the federal income tax rate from 35% to 21% . In addition, certain tax return adjustments, most notably an increased pension deduction made in conjunction with the filing of the Company’s 2017 tax returns, resulted in a net income tax benefit of $5.3 million , that lowered the effective tax rate due to the additional tax benefits realized that were associated with the rate differential. The lower tax rate was partially offset by other Tax Act changes, including the non-deductibility of excess executive compensation and various fringe benefit costs. The Company’s and the Utilities’ effective tax rate were 35% and 36% , respectively, for the nine months ended September 30, 2017. 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 of the provision for income tax expense, in accordance with its understanding of the law and available guidance. In the third quarter of 2018, adjustments, largely relating to Treasury’s depreciation regulation guidance issued in 2018 were made to the provisional tax impacts. The adjustments were due primarily to the application of 50% bonus depreciation to 2017 fourth quarter plant additions, resulting in additional regulatory liabilities totaling $11.3 million . The Company will continue to monitor the provisional impacts and update when and if additional information is received as a result of changes in the Company’s 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	9 Months Ended
	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Cash flows	Cash flows Nine months ended September 30 2018 2017 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates $ 67 $ 62 Income taxes paid (including refundable credits) 50 32 Hawaiian Electric consolidated Interest paid to non-affiliates 44 45 Income taxes paid (including refundable credits) 47 9 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 6 3 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 42 35 Loans transferred from held for investment to held for sale (investing) 1 41 Common stock issued (gross) for director and executive/management compensation (financing) 1 4 11 Obligations to fund low income housing investments (investing) 12 10 Transfer of retail repurchase agreements to deposit liabilities (financing) 102 — Hawaiian Electric consolidated Electric utility property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 6 3 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 28 32 1 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Fair value measurements

Fair value measurements	9 Months Ended
	Sep. 30, 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 bonds are 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 . 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 September 30, 2018 Financial assets HEI consolidated Available-for-sale investment securities $ 1,387,571 $ — $ 1,368,487 $ 19,084 $ 1,387,571 Held-to-maturity investment securities 102,498 — 99,929 — 99,929 Stock in Federal Home Loan Bank 8,158 — 8,158 — 8,158 Loans, net 4,701,268 — 1,031 4,671,635 4,672,666 Mortgage servicing rights 8,426 — — 13,443 13,443 Financial liabilities HEI consolidated Deposit liabilities 1 805,117 — 791,753 — 791,753 Short-term borrowings—other than bank 203,359 — 203,359 — 203,359 Other bank borrowings 71,110 — 71,107 — 71,107 Long-term debt, net—other than bank 1,782,242 — 1,805,682 — 1,805,682 Derivative liabilities 3,023 — 27 — 27 Hawaiian Electric consolidated Short-term borrowings 85,913 — 85,913 — 85,913 Long-term debt, net 1,468,624 — 1,503,508 — 1,503,508 Derivative liabilities-window forward contracts 3,023 — 27 — 27 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 September 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: September 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 $ — $ 1,148,690 $ — $ — $ 1,201,473 $ — U.S. Treasury and federal agency obligations — 170,414 — — 184,298 — Corporate bonds — 49,383 — — — — Mortgage revenue bonds — — 19,084 — — 15,427 $ — $ 1,368,487 $ 19,084 $ — $ 1,385,771 $ 15,427 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ — $ — $ — $ 133 $ — Forward commitments (bank segment) 1 — — — — 4 — Window forward contracts (electric utility segment) 2 — — — — 256 — $ — $ — $ — $ — $ 393 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ — $ — $ — $ 2 $ — Forward commitments (bank segment) 1 — — — 20 8 — Window forward contracts (electric utility segment) 2 — 27 — — — — $ — $ 27 $ — $ 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 nine months ended September 30, 2018 . The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: Three months ended September 30 Nine months ended September 30 Mortgage revenue bonds 2018 2017 2018 2017 (in thousands) Beginning balance $ 15,427 $ 15,427 $ 15,427 $ 15,427 Principal payments received — — — — Purchases 3,657 — 3,657 — Unrealized gain (loss) included in other comprehensive income — — — — Ending balance $ 19,084 $ 15,427 $ 19,084 $ 15,427 ASB holds two mortgage revenue bonds issued by the Department of Budget and Finance of the State of Hawaii. The Company estimates the fair value by using a discounted cash flow model to calculate the present value of estimated future principal and interest payments. The unobservable input used in the fair value measurement is the weighted average discount rate. As of September 30, 2018 , the weighted average discount rate was 3.66% 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 Loans September 30, 2018 $ 77 $ — $ — $ 77 December 31, 2017 2,621 — — 2,621 For nine months ended September 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 September 30, 2018 Home equity lines of credit $ 77 Fair value of collateral Appraised value less 7% selling cost N/A (2) Total loans $ 77 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. (2) N/A - Not applicable. There is one loan in each fair value measurement type. Significant increases (decreases) in any of those inputs in isolation would result in significantly higher (lower) fair value measurements.

Basis of presentation (Policies

Basis of presentation (Policies)	9 Months Ended
	Sep. 30, 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. The PUC approved in the Utilities’ rate cases, stipulated agreements to defer non-service cost components of NPPC and NPBC, which would have been capitalized prior to ASU No. 2017-07, as part of each utility’s pension tracking mechanisms. Such treatment is effective starting in 2018 and continues 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 each utility plans to seek to capitalize only the service components of NPPC and NPBC going forward, which reflects the requirements of ASU No. 2017-07. 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 September 30, 2017 Nine months ended September 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 $ 511,693 $ (1,421 ) $ 510,272 $ 1,483,194 $ (4,279 ) $ 1,478,915 Bank 47,525 (212 ) 47,313 146,754 (608 ) 146,146 Other 4,422 (295 ) 4,127 13,777 (823 ) 12,954 Total expenses 563,640 (1,928 ) 561,712 1,643,725 (5,710 ) 1,638,015 Operating income Electric utility 87,076 1,421 88,497 191,061 4,279 195,340 Bank 26,764 212 26,976 75,720 608 76,328 Other (4,295 ) 295 (4,000 ) (13,478 ) 823 (12,655 ) Total operating income 109,545 1,928 111,473 253,303 5,710 259,013 Retirement defined benefits expense--other than service costs — (1,928 ) (1,928 ) — (5,710 ) (5,710 ) Hawaiian Electric Condensed Consolidated Income Statement Other operation and maintenance 100,102 (1,421 ) 98,681 306,716 (4,279 ) 302,437 Total expense 511,693 (1,421 ) 510,272 1,483,194 (4,279 ) 1,478,915 Operating income 87,076 1,421 88,497 191,061 4,279 195,340 Retirement defined benefits expense--other than service costs — (1,421 ) (1,421 ) — (4,279 ) (4,279 ) Hawaiian Electric Condensed Consolidating Income Statement (in Note 3) Hawaiian Electric (parent only) Other operation and maintenance 66,221 (1,225 ) 64,996 204,460 (3,812 ) 200,648 Total expense 367,619 (1,225 ) 366,394 1,058,382 (3,812 ) 1,054,570 Operating income 61,648 1,225 62,873 128,142 3,812 131,954 Retirement defined benefits expense--other than service costs — (1,225 ) (1,225 ) — (3,812 ) (3,812 ) Hawaii Electric Light Other operation and maintenance 16,593 15 16,608 49,667 183 49,850 Total expense 71,292 15 71,307 212,692 183 212,875 Operating income 13,042 (15 ) 13,027 32,334 (183 ) 32,151 Retirement defined benefits expense--other than service costs — 15 15 — 183 183 Maui Electric Other operation and maintenance 17,288 (211 ) 17,077 52,589 (650 ) 51,939 Total expense 72,782 (211 ) 72,571 212,120 (650 ) 211,470 Operating income 12,416 211 12,627 30,636 650 31,286 Retirement defined benefits expense--other than service costs — (211 ) (211 ) — (650 ) (650 ) ASB Statements of Income Data (in Note 4) Compensation and employee benefits 23,724 (212 ) 23,512 71,703 (608 ) 71,095 Other expense 5,050 212 5,262 14,066 608 14,674 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. The Company plans to elect the practical expedient package provided by the new standard under which the Company will not have to reassess whether any expired or existing contracts are or contain leases, whether there is a change in lease classification for any expired or existing leases under the new standard, or whether there were initial direct costs for any existing leases that would be treated differently under the new standard. The Company also plans to elect the additional adoption method to initially apply the new requirements as of the effective date, i.e., January 1, 2019, by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Additionally, the Company will continue to report comparative periods presented in the financial statements in the period of adoption under ASC 840, including the required disclosures under ASC 840. The Company is in the process of analyzing the measurement provisions of the new standard and their impact on 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. Compensation-defined benefit plans . In August 2018, the FASB issued ASU 2018-14, “Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans,” that makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other postretirement benefit plans. The new guidance eliminates requirements for certain disclosures that are no longer considered cost beneficial and requires new ones that the FASB considers pertinent. ASU No. 2018-14 is effective for fiscal years ending after December 15, 2020 . The Company is evaluating the impact of the adoption of ASU No. 2018-14 on its financial statement disclosures, but does not expect it to have a material impact. Cloud computing implementation costs . In August 2018, the FASB issued ASU 2018-15, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” which requires a customer in a cloud computing arrangement that is a service contract to follow the internal use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets. Capitalized implementation costs related to a hosting arrangement that is a service contract will be amortized over the term of the hosting arrangement, beginning when the module or component of the hosting arrangement is ready for its intended use. ASU No. 2018-15 is effective for fiscal years beginning after December 15, 2019. The Company is evaluating the impact of the adoption of ASU No. 2018-15 on its consolidated financial statements.

Basis of presentation (Tables)

Basis of presentation (Tables)	9 Months Ended
	Sep. 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 September 30, 2017 Nine months ended September 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 $ 511,693 $ (1,421 ) $ 510,272 $ 1,483,194 $ (4,279 ) $ 1,478,915 Bank 47,525 (212 ) 47,313 146,754 (608 ) 146,146 Other 4,422 (295 ) 4,127 13,777 (823 ) 12,954 Total expenses 563,640 (1,928 ) 561,712 1,643,725 (5,710 ) 1,638,015 Operating income Electric utility 87,076 1,421 88,497 191,061 4,279 195,340 Bank 26,764 212 26,976 75,720 608 76,328 Other (4,295 ) 295 (4,000 ) (13,478 ) 823 (12,655 ) Total operating income 109,545 1,928 111,473 253,303 5,710 259,013 Retirement defined benefits expense--other than service costs — (1,928 ) (1,928 ) — (5,710 ) (5,710 ) Hawaiian Electric Condensed Consolidated Income Statement Other operation and maintenance 100,102 (1,421 ) 98,681 306,716 (4,279 ) 302,437 Total expense 511,693 (1,421 ) 510,272 1,483,194 (4,279 ) 1,478,915 Operating income 87,076 1,421 88,497 191,061 4,279 195,340 Retirement defined benefits expense--other than service costs — (1,421 ) (1,421 ) — (4,279 ) (4,279 ) Hawaiian Electric Condensed Consolidating Income Statement (in Note 3) Hawaiian Electric (parent only) Other operation and maintenance 66,221 (1,225 ) 64,996 204,460 (3,812 ) 200,648 Total expense 367,619 (1,225 ) 366,394 1,058,382 (3,812 ) 1,054,570 Operating income 61,648 1,225 62,873 128,142 3,812 131,954 Retirement defined benefits expense--other than service costs — (1,225 ) (1,225 ) — (3,812 ) (3,812 ) Hawaii Electric Light Other operation and maintenance 16,593 15 16,608 49,667 183 49,850 Total expense 71,292 15 71,307 212,692 183 212,875 Operating income 13,042 (15 ) 13,027 32,334 (183 ) 32,151 Retirement defined benefits expense--other than service costs — 15 15 — 183 183 Maui Electric Other operation and maintenance 17,288 (211 ) 17,077 52,589 (650 ) 51,939 Total expense 72,782 (211 ) 72,571 212,120 (650 ) 211,470 Operating income 12,416 211 12,627 30,636 650 31,286 Retirement defined benefits expense--other than service costs — (211 ) (211 ) — (650 ) (650 ) ASB Statements of Income Data (in Note 4) Compensation and employee benefits 23,724 (212 ) 23,512 71,703 (608 ) 71,095 Other expense 5,050 212 5,262 14,066 608 14,674

Segment financial information (

Segment financial information (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Schedule of segment financial information	(in thousands) Electric utility Bank Other Total Three months ended September 30, 2018 Revenues from external customers $ 687,396 $ 80,496 $ 156 $ 768,048 Intersegment revenues (eliminations) 13 — (13 ) — Revenues $ 687,409 $ 80,496 $ 143 $ 768,048 Income (loss) before income taxes $ 57,354 $ 26,831 $ (6,952 ) $ 77,233 Income taxes (benefit) 7,144 5,610 (1,892 ) 10,862 Net income (loss) 50,210 21,221 (5,060 ) 66,371 Preferred stock dividends of subsidiaries 498 — (27 ) 471 Net income (loss) for common stock $ 49,712 $ 21,221 $ (5,033 ) $ 65,900 Nine months ended September 30, 2018 Revenues from external customers $ 1,865,922 $ 233,019 $ 258 $ 2,099,199 Intersegment revenues (eliminations) 40 — (40 ) — Revenues $ 1,865,962 $ 233,019 $ 218 $ 2,099,199 Income (loss) before income taxes $ 134,847 $ 77,845 $ (22,601 ) $ 190,091 Income taxes (benefit) 24,995 17,103 (5,625 ) 36,473 Net income (loss) 109,852 60,742 (16,976 ) 153,618 Preferred stock dividends of subsidiaries 1,496 — (79 ) 1,417 Net income (loss) for common stock $ 108,356 $ 60,742 $ (16,897 ) $ 152,201 Total assets (at September 30, 2018) $ 5,882,127 $ 6,929,456 $ 99,971 $ 12,911,554 Three months ended September 30, 2017 Revenues from external customers $ 598,756 $ 74,289 $ 140 $ 673,185 Intersegment revenues (eliminations) 13 — (13 ) — Revenues $ 598,769 $ 74,289 $ 127 $ 673,185 Income (loss) before income taxes $ 74,990 $ 26,764 $ (6,615 ) $ 95,139 Income taxes (benefit) 27,005 9,172 (1,582 ) 34,595 Net income (loss) 47,985 17,592 (5,033 ) 60,544 Preferred stock dividends of subsidiaries 498 — (27 ) 471 Net income (loss) for common stock $ 47,487 $ 17,592 $ (5,006 ) $ 60,073 Nine months ended September 30, 2017 Revenues from external customers $ 1,674,158 $ 222,474 $ 396 $ 1,897,028 Intersegment revenues (eliminations) 97 — (97 ) — Revenues $ 1,674,255 $ 222,474 $ 299 $ 1,897,028 Income (loss) before income taxes $ 150,715 $ 75,720 $ (20,088 ) $ 206,347 Income taxes (benefit) 54,623 25,582 (8,202 ) 72,003 Net income (loss) 96,092 50,138 (11,886 ) 134,344 Preferred stock dividends of subsidiaries 1,496 — (79 ) 1,417 Net income (loss) for common stock $ 94,596 $ 50,138 $ (11,807 ) $ 132,927 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)	9 Months Ended
	Sep. 30, 2018
Regulatory Projects and Legal Obligations [Line Items]
Schedule of condensed consolidating statements of income (loss)	Statements of Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2018 2017 2018 2017 Interest and dividend income Interest and fees on loans $ 55,885 $ 52,210 $ 163,318 $ 155,269 Interest and dividends on investment securities 9,300 6,850 27,130 20,593 Total interest and dividend income 65,185 59,060 190,448 175,862 Interest expense Interest on deposit liabilities 3,635 2,444 9,876 6,858 Interest on other borrowings 404 470 1,293 2,110 Total interest expense 4,039 2,914 11,169 8,968 Net interest income 61,146 56,146 179,279 166,894 Provision for loan losses 6,033 490 12,337 7,231 Net interest income after provision for loan losses 55,113 55,656 166,942 159,663 Noninterest income Fees from other financial services 4,543 5,635 13,941 17,055 Fee income on deposit liabilities 5,454 5,533 15,781 16,526 Fee income on other financial products 1,746 1,904 5,075 5,741 Bank-owned life insurance 2,663 1,257 4,667 4,165 Mortgage banking income 169 520 1,399 1,896 Other income, net 736 380 1,708 1,229 Total noninterest income 15,311 15,229 42,571 46,612 Noninterest expense Compensation and employee benefits 23,952 23,512 72,047 71,095 Occupancy 4,363 4,284 12,837 12,623 Data processing 3,583 3,262 10,587 9,749 Services 2,485 2,863 8,560 7,989 Equipment 1,783 1,814 5,385 5,333 Office supplies, printing and postage 1,556 1,444 4,554 4,506 Marketing 993 934 2,723 2,290 FDIC insurance 638 746 2,078 2,296 Other expense 4,240 5,262 12,897 14,674 Total noninterest expense 43,593 44,121 131,668 130,555 Income before income taxes 26,831 26,764 77,845 75,720 Income taxes 5,610 9,172 17,103 25,582 Net income $ 21,221 $ 17,592 $ 60,742 $ 50,138 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2018 2017 2018 2017 Interest and dividend income 65,185 59,060 $ 190,448 $ 175,862 Noninterest income 15,311 15,229 42,571 46,612 *Revenues-Bank 80,496 74,289 233,019 222,474 Total interest expense 4,039 2,914 11,169 8,968 Provision for loan losses 6,033 490 12,337 7,231 Noninterest expense 43,593 44,121 131,668 130,555 Less: Retirement defined benefits expense—other than service costs (433 ) (212 ) (1,223 ) (608 ) *Expenses-Bank 53,232 47,313 153,951 146,146 *Operating income-Bank 27,264 26,976 79,068 76,328 Add back: Retirement defined benefits expense—other than service costs 433 212 1,223 608 Income before income taxes $ 26,831 $ 26,764 $ 77,845 $ 75,720
Schedule of condensed consolidating balance sheet	Balance Sheets Data (in thousands) September 30, 2018 December 31, 2017 Assets Cash and due from banks $ 119,453 $ 140,934 Interest-bearing deposits 39,575 93,165 Investment securities Available-for-sale, at fair value 1,387,571 1,401,198 Held-to-maturity, at amortized cost (fair value of $99,929 and $44,412, respectively) 102,498 44,515 Stock in Federal Home Loan Bank, at cost 8,158 9,706 Loans held for investment 4,754,359 4,670,768 Allowance for loan losses (54,127 ) (53,637 ) Net loans 4,700,232 4,617,131 Loans held for sale, at lower of cost or fair value 1,036 11,250 Other 488,743 398,570 Goodwill 82,190 82,190 Total assets $ 6,929,456 $ 6,798,659 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,789,351 $ 1,760,233 Deposit liabilities—interest-bearing 4,341,064 4,130,364 Other borrowings 71,110 190,859 Other 115,401 110,356 Total liabilities 6,316,926 6,191,812 Commitments and contingencies Common stock 1 1 Additional paid in capital 346,757 345,018 Retained earnings 317,519 292,957 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (37,719 ) $ (14,951 ) Retirement benefit plans (14,028 ) (51,747 ) (16,178 ) (31,129 ) Total shareholder’s equity 612,530 606,847 Total liabilities and shareholder’s equity $ 6,929,456 $ 6,798,659 Other assets Bank-owned life insurance $ 150,772 $ 148,775 Premises and equipment, net 203,062 136,270 Prepaid expenses 5,477 3,961 Accrued interest receivable 19,818 18,724 Mortgage-servicing rights 8,426 8,639 Low-income housing equity investments 69,865 59,016 Real estate acquired in settlement of loans, net 438 133 Other 30,885 23,052 $ 488,743 $ 398,570 Other liabilities Accrued expenses $ 56,830 $ 39,312 Federal and state income taxes payable 1,287 3,736 Cashier’s checks 23,711 27,000 Advance payments by borrowers 4,998 10,245 Other 28,575 30,063 $ 115,401 $ 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 September 30 Nine months ended September 30 (in millions) 2018 2017 2018 2017 Kalaeloa $ 62 $ 48 $ 154 $ 136 AES Hawaii 38 39 107 103 HPOWER 19 18 51 51 Puna Geothermal Venture — 10 15 28 Hamakua Energy 17 8 39 25 Other IPPs 1 41 38 112 98 Total IPPs $ 177 $ 161 $ 478 $ 441 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 * The 2018 annual RAM adjusted revenues for Maui Electric terminated on August 23, 2018, the effective date of interim increase tariff rates that were implemented pursuant to the Interim D&O issued in the Maui Electric consolidated 2015 and 2018 rate case. ** 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 Nine months ended September 30, 2018 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 1,321,089 276,462 268,567 — (156 ) $ 1,865,962 Expenses Fuel oil 375,862 64,348 105,026 — — 545,236 Purchased power 367,317 72,589 38,332 — — 478,238 Other operation and maintenance 228,773 50,366 54,666 — — 333,805 Depreciation 103,112 30,165 18,533 — — 151,810 Taxes, other than income taxes 125,214 25,835 25,275 — — 176,324 Total expenses 1,200,278 243,303 241,832 — — 1,685,413 Operating income 120,811 33,159 26,735 — (156 ) 180,549 Allowance for equity funds used during construction 7,123 274 842 — — 8,239 Equity in earnings of subsidiaries 35,041 — — — (35,041 ) — Retirement defined benefits expense—other than service costs (2,091 ) (312 ) (531 ) — — (2,934 ) Interest expense and other charges, net (38,967 ) (8,855 ) (7,156 ) — 156 (54,822 ) Allowance for borrowed funds used during construction 3,198 190 427 — — 3,815 Income before income taxes 125,115 24,456 20,317 — (35,041 ) 134,847 Income taxes 15,949 5,017 4,029 — — 24,995 Net income 109,166 19,439 16,288 — (35,041 ) 109,852 Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income attributable to Hawaiian Electric 109,166 19,039 16,002 — (35,041 ) 109,166 Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income for common stock $ 108,356 19,039 16,002 — (35,041 ) $ 108,356 Condensed Consolidating Statement of Income Three months ended September 30, 2018 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 488,210 98,981 100,273 — (55 ) $ 687,409 Expenses Fuel oil 141,357 26,429 38,765 — — 206,551 Purchased power 138,135 24,091 15,364 — — 177,590 Other operation and maintenance 78,988 15,253 19,312 — — 113,553 Depreciation 34,282 10,072 6,629 — — 50,983 Taxes, other than income taxes 46,096 9,215 9,385 — — 64,696 Total expenses 438,858 85,060 89,455 — — 613,373 Operating income 49,352 13,921 10,818 — (55 ) 74,036 Allowance for equity funds used during construction 1,648 39 275 — — 1,962 Equity in earnings of subsidiaries 16,636 — — — (16,636 ) — Retirement defined benefits expense—other than service costs (475 ) (104 ) (103 ) — — (682 ) Interest expense and other charges, net (13,542 ) (3,026 ) (2,455 ) — 55 (18,968 ) Allowance for borrowed funds used during construction 810 49 147 — — 1,006 Income before income taxes 54,429 10,879 8,682 — (16,636 ) 57,354 Income taxes 4,447 1,571 1,126 — — 7,144 Net income 49,982 9,308 7,556 — (16,636 ) 50,210 Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income attributable to Hawaiian Electric 49,982 9,175 7,461 — (16,636 ) 49,982 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 49,712 9,175 7,461 — (16,636 ) $ 49,712 Condensed Consolidating Statement of Income Nine months ended September 30, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 1,186,524 245,026 242,756 — (51 ) $ 1,674,255 Expenses Fuel oil 301,774 47,486 82,527 — — 431,787 Purchased power 340,498 63,403 36,637 — — 440,538 Other operation and maintenance 200,648 49,850 51,939 — — 302,437 Depreciation 98,167 29,056 17,355 — — 144,578 Taxes, other than income taxes 113,483 23,080 23,012 — — 159,575 Total expenses 1,054,570 212,875 211,470 — — 1,478,915 Operating income 131,954 32,151 31,286 — (51 ) 195,340 Allowance for equity funds used during construction 7,823 416 669 — — 8,908 Equity in earnings of subsidiaries 29,306 — — — (29,306 ) — Retirement defined benefits expense—other than service costs (3,812 ) 183 (650 ) — — (4,279 ) Interest expense and other charges, net (36,405 ) (8,899 ) (7,372 ) — 51 (52,625 ) Allowance for borrowed funds used during construction 2,910 172 289 — — 3,371 Income before income taxes 131,776 24,023 24,222 — (29,306 ) 150,715 Income taxes 36,370 8,973 9,280 — — 54,623 Net income 95,406 15,050 14,942 — (29,306 ) 96,092 Preferred stock dividends of subsidiaries — 400 286 — — 686 Net income attributable to Hawaiian Electric 95,406 14,650 14,656 — (29,306 ) 95,406 Preferred stock dividends of Hawaiian Electric 810 — — — — 810 Net income for common stock $ 94,596 14,650 14,656 — (29,306 ) $ 94,596 Condensed Consolidating Statement of Income Three months ended September 30, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 429,267 84,334 85,198 — (30 ) $ 598,769 Expenses Fuel oil 103,959 15,754 26,545 — — 146,258 Purchased power 123,893 21,332 15,122 — — 160,347 Other operation and maintenance 64,996 16,608 17,077 — — 98,681 Depreciation 32,722 9,685 5,799 — — 48,206 Taxes, other than income taxes 40,824 7,928 8,028 — — 56,780 Total expenses 366,394 71,307 72,571 — — 510,272 Operating income 62,873 13,027 12,627 — (30 ) 88,497 Allowance for equity funds used during construction 3,108 167 207 — — 3,482 Equity in earnings of subsidiaries 12,767 — — — (12,767 ) — Retirement defined benefits expense—other than service costs (1,225 ) 15 (211 ) — — (1,421 ) Interest expense and other charges, net (11,786 ) (2,899 ) (2,252 ) — 30 (16,907 ) Allowance for borrowed funds used during construction 1,173 72 94 — — 1,339 Income before income taxes 66,910 10,382 10,465 — (12,767 ) 74,990 Income taxes 19,153 3,815 4,037 — — 27,005 Net income 47,757 6,567 6,428 — (12,767 ) 47,985 Preferred stock dividends of subsidiaries — 133 95 — — 228 Net income attributable to Hawaiian Electric 47,757 6,434 6,333 — (12,767 ) 47,757 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 47,487 6,434 6,333 — (12,767 ) $ 47,487
Schedule of condensed consolidating statement of comprehensive income	Condensed Consolidating Statement of Comprehensive Income Three months ended September 30, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 47,487 6,434 6,333 — (12,767 ) $ 47,487 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 3,618 476 404 — (880 ) 3,618 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (3,596 ) (476 ) (404 ) — 880 (3,596 ) Other comprehensive income, net of taxes 22 — — — — 22 Comprehensive income attributable to common shareholder $ 47,509 6,434 6,333 — (12,767 ) $ 47,509 Condensed Consolidating Statement of Comprehensive Income Nine months ended September 30, 2018 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 108,356 19,039 16,002 — (35,041 ) $ 108,356 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 14,259 2,114 1,817 — (3,931 ) 14,259 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (14,174 ) (2,113 ) (1,817 ) — 3,930 (14,174 ) Other comprehensive income, net of taxes 85 1 — — (1 ) 85 Comprehensive income attributable to common shareholder $ 108,441 19,040 16,002 — (35,042 ) $ 108,441 Condensed Consolidating Statement of Comprehensive Income Nine months ended September 30, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 94,596 14,650 14,656 — (29,306 ) $ 94,596 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 10,857 1,428 1,214 — (2,642 ) 10,857 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (10,790 ) (1,427 ) (1,214 ) — 2,641 (10,790 ) Other comprehensive income, net of taxes 521 1 — — (1 ) 521 Comprehensive income attributable to common shareholder $ 95,117 14,651 14,656 — (29,307 ) $ 95,117 Condensed Consolidating Statement of Comprehensive Income Three months ended September 30, 2018 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Net income for common stock $ 49,712 9,175 7,461 — (16,636 ) $ 49,712 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 4,753 705 606 — (1,311 ) 4,753 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (4,725 ) (705 ) (606 ) — 1,311 (4,725 ) Other comprehensive income, net of taxes 28 — — — — 28 Comprehensive income attributable to common shareholder $ 49,740 9,175 7,461 — (16,636 ) $ 49,740
Schedule of condensed consolidating balance sheet	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 Condensed Consolidating Balance Sheet September 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 $ 44,030 5,873 3,612 — — $ 53,515 Plant and equipment 4,404,946 1,227,530 1,087,570 — — 6,720,046 Less accumulated depreciation (1,513,351 ) (541,451 ) (512,906 ) — — (2,567,708 ) Construction in progress 154,566 11,060 27,460 — — 193,086 Utility property, plant and equipment, net 3,090,191 703,012 605,736 — — 4,398,939 Nonutility property, plant and equipment, less accumulated depreciation 5,933 115 1,532 — — 7,580 Total property, plant and equipment, net 3,096,124 703,127 607,268 — — 4,406,519 Investment in wholly owned subsidiaries, at equity 571,574 — — — (571,574 ) — Current assets Cash and cash equivalents 3,867 3,027 229 101 — 7,224 Advances to affiliates 2,000 — — — (2,000 ) — Customer accounts receivable, net 124,792 29,364 24,629 — — 178,785 Accrued unbilled revenues, net 94,956 15,810 16,936 — — 127,702 Other accounts receivable, net 10,312 1,352 1,069 — (9,355 ) 3,378 Fuel oil stock, at average cost 61,110 11,483 19,229 — — 91,822 Materials and supplies, at average cost 32,407 7,840 18,260 — — 58,507 Prepayments and other 44,458 8,604 7,670 — — 60,732 Regulatory assets 75,541 6,217 7,672 — — 89,430 Total current assets 449,443 83,697 95,694 101 (11,355 ) 617,580 Other long-term assets Regulatory assets 527,650 115,114 98,730 — — 741,494 Other 77,899 20,363 18,272 — — 116,534 Total other long-term assets 605,549 135,477 117,002 — — 858,028 Total assets $ 4,722,690 922,301 819,964 101 (582,929 ) $ 5,882,127 Capitalization and liabilities Capitalization Common stock equity $ 1,876,237 294,220 277,253 101 (571,574 ) $ 1,876,237 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,000,020 217,724 200,887 — — 1,418,631 Total capitalization 2,898,550 518,944 483,140 101 (571,574 ) 3,329,161 Current liabilities Current portion of long-term debt 29,996 10,998 8,999 — — 49,993 Short-term borrowings from non-affiliates 85,913 — — — — 85,913 Short-term borrowings from affiliate — — 2,000 — (2,000 ) — Accounts payable 90,937 12,289 19,706 — — 122,932 Interest and preferred dividends payable 19,994 4,243 4,030 — (9 ) 28,258 Taxes accrued 136,485 30,829 28,462 — — 195,776 Regulatory liabilities 3,124 2,850 4,185 — — 10,159 Other 64,697 9,594 16,109 — (9,346 ) 81,054 Total current liabilities 431,146 70,803 83,491 — (11,355 ) 574,085 Deferred credits and other liabilities Deferred income taxes 285,789 56,417 58,863 — — 401,069 Regulatory liabilities 649,761 174,739 97,693 — — 922,193 Unamortized tax credits 61,299 16,271 15,503 — — 93,073 Defined benefit pension and other postretirement benefit plans liability 332,743 64,026 63,510 — — 460,279 Other 63,402 21,101 17,764 — — 102,267 Total deferred credits and other liabilities 1,392,994 332,554 253,333 — — 1,978,881 Total capitalization and liabilities $ 4,722,690 922,301 819,964 101 (582,929 ) $ 5,882,127
Schedule of condensed consolidating statement of changes in common stock equity	Condensed Consolidating Statement of Changes in Common Stock Equity Nine months ended September 30, 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 108,356 19,039 16,002 — (35,041 ) 108,356 Other comprehensive income, net of taxes 85 1 — — (1 ) 85 Common stock dividends (77,479 ) (11,467 ) (9,014 ) — 20,481 (77,479 ) Common stock issuance expenses (8 ) — — — — (8 ) Balance, September 30, 2018 $ 1,876,237 294,220 277,253 101 (571,574 ) $ 1,876,237 Condensed Consolidating Statement of Changes in Common Stock Equity Nine months ended September 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 94,596 14,650 14,656 — (29,306 ) 94,596 Other comprehensive income, net of taxes 521 1 — — (1 ) 521 Common stock dividends (65,825 ) (11,622 ) (8,959 ) — 20,581 (65,825 ) Common stock issuance expenses (4 ) (1 ) — — 1 (4 ) Balance, September 30, 2017 $ 1,829,075 294,319 265,251 101 (559,671 ) $ 1,829,075
Schedule of condensed consolidating statement of cash flows	Condensed Consolidating Statement of Cash Flows Nine months ended September 30, 2017 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Cash flows from operating activities Net income $ 95,406 15,050 14,942 — (29,306 ) $ 96,092 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of subsidiaries (29,381 ) — — — 29,306 (75 ) Common stock dividends received from subsidiaries 20,656 — — — (20,581 ) 75 Depreciation of property, plant and equipment 98,167 29,056 17,355 — — 144,578 Other amortization 2,168 1,718 2,232 — — 6,118 Deferred income taxes 12,166 5,237 7,493 — 4,641 29,537 Allowance for equity funds used during construction (7,823 ) (416 ) (669 ) — — (8,908 ) Other 216 566 (256 ) — — 526 Changes in assets and liabilities: Increase in accounts receivable (6,114 ) (1,127 ) (1,912 ) — 1,066 (8,087 ) Increase in accrued unbilled revenues (14,823 ) (1,581 ) (1,610 ) — — (18,014 ) Decrease (increase) in fuel oil stock 6,779 195 (797 ) — — 6,177 Decrease (increase) in materials and supplies 1,063 (1,580 ) (1,763 ) — — (2,280 ) Decrease (increase) in regulatory assets 9,471 (2,935 ) (2,614 ) — — 3,922 Increase (decrease) in accounts payable 7,010 (2,660 ) 1,780 — — 6,130 Change in prepaid and accrued income taxes, tax credits and revenue taxes 10,920 (758 ) 210 — (5,081 ) 5,291 Increase (decrease) in defined benefit pension and other postretirement benefit plans liability 532 39 (118 ) — — 453 Change in other assets and liabilities (2,709 ) 1,059 54 — (1,066 ) (2,662 ) Net cash provided by operating activities 203,704 41,863 34,327 — (21,021 ) 258,873 Cash flows from investing activities Capital expenditures (236,727 ) (36,700 ) (33,548 ) — — (306,975 ) Contributions in aid of construction 34,787 3,460 2,356 — — 40,603 Other 6,089 871 714 — 440 8,114 Advances (to) from affiliates — (3,100 ) 6,000 — (2,900 ) — Net cash used in investing activities (195,851 ) (35,469 ) (24,478 ) — (2,460 ) (258,258 ) Cash flows from financing activities Common stock dividends (65,825 ) (11,622 ) (8,959 ) — 20,581 (65,825 ) Preferred stock dividends of Hawaiian Electric and subsidiaries (810 ) (400 ) (286 ) — — (1,496 ) 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 3,100 — — — 2,900 6,000 Other (2,252 ) (407 ) (934 ) — — (3,593 ) Net cash used in financing activities (65,787 ) (12,429 ) (10,179 ) — 23,481 (64,914 ) Net decrease in cash and cash equivalents (57,934 ) (6,035 ) (330 ) — — (64,299 ) Cash and cash equivalents, beginning of period 61,388 10,749 2,048 101 — 74,286 Cash and cash equivalents, end of period $ 3,454 4,714 1,718 101 — $ 9,987 Condensed Consolidating Statement of Cash Flows Nine months ended September 30, 2018 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Cash flows from operating activities Net income $ 109,166 19,439 16,288 — (35,041 ) $ 109,852 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of subsidiaries (35,116 ) — — — 35,041 (75 ) Common stock dividends received from subsidiaries 20,531 — — — (20,481 ) 50 Depreciation of property, plant and equipment 103,112 30,165 18,533 — — 151,810 Other amortization 15,159 3,992 672 — — 19,823 Deferred income taxes 7,182 1,195 4,458 — — 12,835 Allowance for equity funds used during construction (7,123 ) (274 ) (842 ) — — (8,239 ) Other (1,227 ) (315 ) (410 ) — — (1,952 ) Changes in assets and liabilities: Increase in accounts receivable (41,566 ) (6,738 ) (6,499 ) — 1,664 (53,139 ) Decrease (increase) in accrued unbilled revenues (17,780 ) 130 (2,998 ) — — (20,648 ) Decrease (increase) in fuel oil stock 3,862 (2,785 ) (6,026 ) — — (4,949 ) Decrease (increase) in materials and supplies (4,082 ) 201 (229 ) — — (4,110 ) Increase in regulatory assets (1,704 ) (2,245 ) (2,525 ) — — (6,474 ) Increase (decrease) in accounts payable (10,541 ) 234 1,595 — — (8,712 ) Change in prepaid and accrued income taxes, tax credits and revenue taxes (20,949 ) (9,828 ) (6,029 ) — (331 ) (37,137 ) Increase (decrease) in defined benefit pension and other postretirement benefit plans liability 6,018 (570 ) 440 — — 5,888 Change in other assets and liabilities 34,934 2,602 3,027 — (1,664 ) 38,899 Net cash provided by operating activities 159,876 35,203 19,455 — (20,812 ) 193,722 Cash flows from investing activities Capital expenditures (245,393 ) (43,417 ) (45,920 ) — — (334,730 ) Contributions in aid of construction 19,486 2,960 1,915 — — 24,361 Other 4,518 1,177 3,785 — 331 9,811 Advances (to) from affiliates (2,000 ) — 12,000 — (10,000 ) — Net cash used in investing activities (223,389 ) (39,280 ) (28,220 ) — (9,669 ) (300,558 ) Cash flows from financing activities Common stock dividends (77,479 ) (11,467 ) (9,014 ) — 20,481 (77,479 ) Preferred stock dividends of Hawaiian Electric and subsidiaries (810 ) (400 ) (286 ) — — (1,496 ) 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 68,914 — 2,000 — 10,000 80,914 Other (304 ) (54 ) (38 ) — — (396 ) Net cash provided by financing activities 65,321 3,079 2,662 — 30,481 101,543 Net increase (decrease) in cash and cash equivalents 1,808 (998 ) (6,103 ) — — (5,293 ) Cash and cash equivalents, beginning of period 2,059 4,025 6,332 101 — 12,517 Cash and cash equivalents, end of period $ 3,867 3,027 229 101 — $ 7,224

Bank segment (Tables)

Bank segment (Tables)	9 Months Ended
	Sep. 30, 2018
Bank Subsidiary [Abstract]
Schedule of statements of income data	Statements of Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2018 2017 2018 2017 Interest and dividend income Interest and fees on loans $ 55,885 $ 52,210 $ 163,318 $ 155,269 Interest and dividends on investment securities 9,300 6,850 27,130 20,593 Total interest and dividend income 65,185 59,060 190,448 175,862 Interest expense Interest on deposit liabilities 3,635 2,444 9,876 6,858 Interest on other borrowings 404 470 1,293 2,110 Total interest expense 4,039 2,914 11,169 8,968 Net interest income 61,146 56,146 179,279 166,894 Provision for loan losses 6,033 490 12,337 7,231 Net interest income after provision for loan losses 55,113 55,656 166,942 159,663 Noninterest income Fees from other financial services 4,543 5,635 13,941 17,055 Fee income on deposit liabilities 5,454 5,533 15,781 16,526 Fee income on other financial products 1,746 1,904 5,075 5,741 Bank-owned life insurance 2,663 1,257 4,667 4,165 Mortgage banking income 169 520 1,399 1,896 Other income, net 736 380 1,708 1,229 Total noninterest income 15,311 15,229 42,571 46,612 Noninterest expense Compensation and employee benefits 23,952 23,512 72,047 71,095 Occupancy 4,363 4,284 12,837 12,623 Data processing 3,583 3,262 10,587 9,749 Services 2,485 2,863 8,560 7,989 Equipment 1,783 1,814 5,385 5,333 Office supplies, printing and postage 1,556 1,444 4,554 4,506 Marketing 993 934 2,723 2,290 FDIC insurance 638 746 2,078 2,296 Other expense 4,240 5,262 12,897 14,674 Total noninterest expense 43,593 44,121 131,668 130,555 Income before income taxes 26,831 26,764 77,845 75,720 Income taxes 5,610 9,172 17,103 25,582 Net income $ 21,221 $ 17,592 $ 60,742 $ 50,138 Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended September 30 Nine months ended September 30 (in thousands) 2018 2017 2018 2017 Interest and dividend income 65,185 59,060 $ 190,448 $ 175,862 Noninterest income 15,311 15,229 42,571 46,612 *Revenues-Bank 80,496 74,289 233,019 222,474 Total interest expense 4,039 2,914 11,169 8,968 Provision for loan losses 6,033 490 12,337 7,231 Noninterest expense 43,593 44,121 131,668 130,555 Less: Retirement defined benefits expense—other than service costs (433 ) (212 ) (1,223 ) (608 ) *Expenses-Bank 53,232 47,313 153,951 146,146 *Operating income-Bank 27,264 26,976 79,068 76,328 Add back: Retirement defined benefits expense—other than service costs 433 212 1,223 608 Income before income taxes $ 26,831 $ 26,764 $ 77,845 $ 75,720
Schedule of statements of comprehensive income data	Statements of Comprehensive Income Data Three months ended September 30 Nine months ended September 30 (in thousands) 2018 2017 2018 2017 Net income $ 21,221 $ 17,592 $ 60,742 $ 50,138 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 $1,876, $(137), $8,335 and $(1,619), respectively (5,123 ) 208 (22,768 ) 2,452 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 $141, $138, $968 and $675, respectively 382 209 1,970 1,023 Other comprehensive income (loss), net of taxes (4,741 ) 417 (20,798 ) 3,475 Comprehensive income $ 16,480 $ 18,009 $ 39,944 $ 53,613
Schedule of balance sheets data	Balance Sheets Data (in thousands) September 30, 2018 December 31, 2017 Assets Cash and due from banks $ 119,453 $ 140,934 Interest-bearing deposits 39,575 93,165 Investment securities Available-for-sale, at fair value 1,387,571 1,401,198 Held-to-maturity, at amortized cost (fair value of $99,929 and $44,412, respectively) 102,498 44,515 Stock in Federal Home Loan Bank, at cost 8,158 9,706 Loans held for investment 4,754,359 4,670,768 Allowance for loan losses (54,127 ) (53,637 ) Net loans 4,700,232 4,617,131 Loans held for sale, at lower of cost or fair value 1,036 11,250 Other 488,743 398,570 Goodwill 82,190 82,190 Total assets $ 6,929,456 $ 6,798,659 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 1,789,351 $ 1,760,233 Deposit liabilities—interest-bearing 4,341,064 4,130,364 Other borrowings 71,110 190,859 Other 115,401 110,356 Total liabilities 6,316,926 6,191,812 Commitments and contingencies Common stock 1 1 Additional paid in capital 346,757 345,018 Retained earnings 317,519 292,957 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (37,719 ) $ (14,951 ) Retirement benefit plans (14,028 ) (51,747 ) (16,178 ) (31,129 ) Total shareholder’s equity 612,530 606,847 Total liabilities and shareholder’s equity $ 6,929,456 $ 6,798,659 Other assets Bank-owned life insurance $ 150,772 $ 148,775 Premises and equipment, net 203,062 136,270 Prepaid expenses 5,477 3,961 Accrued interest receivable 19,818 18,724 Mortgage-servicing rights 8,426 8,639 Low-income housing equity investments 69,865 59,016 Real estate acquired in settlement of loans, net 438 133 Other 30,885 23,052 $ 488,743 $ 398,570 Other liabilities Accrued expenses $ 56,830 $ 39,312 Federal and state income taxes payable 1,287 3,736 Cashier’s checks 23,711 27,000 Advance payments by borrowers 4,998 10,245 Other 28,575 30,063 $ 115,401 $ 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 September 30, 2018 Available-for-sale U.S. Treasury and federal agency obligations $ 175,144 $ 24 $ (4,754 ) $ 170,414 11 $ 67,258 $ (1,339 ) 17 $ 93,132 $ (3,415 ) Mortgage-related securities- FNMA, FHLMC and GNMA 1,195,492 292 (47,094 ) 1,148,690 59 473,714 (13,996 ) 111 666,149 (33,098 ) Corporate bonds 49,378 46 (41 ) 49,383 5 22,839 (41 ) — — — Mortgage revenue bonds 19,084 — — 19,084 — — — — — — $ 1,439,098 $ 362 $ (51,889 ) $ 1,387,571 75 $ 563,811 $ (15,376 ) 128 $ 759,281 $ (36,513 ) Held-to-maturity Mortgage-related securities- FNMA, FHLMC and GNMA $ 102,498 $ — $ (2,569 ) $ 99,929 7 $ 99,929 $ (2,569 ) — $ — $ — $ 102,498 $ — $ (2,569 ) $ 99,929 7 $ 99,929 $ (2,569 ) — $ — $ — 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: September 30, 2018 Amortized cost Fair value (in thousands) Available-for-sale Due in one year or less $ 25,004 $ 24,896 Due after one year through five years 108,364 106,774 Due after five years through ten years 82,720 80,439 Due after ten years 27,518 26,772 243,606 238,881 Mortgage-related securities-FNMA, FHLMC and GNMA 1,195,492 1,148,690 Total available-for-sale securities $ 1,439,098 $ 1,387,571 Held-to-maturity Mortgage-related securities-FNMA, FHLMC and GNMA $ 102,498 $ 99,929 Total held-to-maturity securities $ 102,498 $ 99,929
Schedule of components of loans receivable	The components of loans were summarized as follows: September 30, 2018 December 31, 2017 (in thousands) Real estate: Residential 1-4 family $ 2,110,489 $ 2,118,047 Commercial real estate 733,749 733,106 Home equity line of credit 949,872 913,052 Residential land 12,982 15,797 Commercial construction 112,838 108,273 Residential construction 13,441 14,910 Total real estate 3,933,371 3,903,185 Commercial 574,243 544,828 Consumer 247,058 223,564 Total loans 4,754,672 4,671,577 Less: Deferred fees and discounts (313 ) (809 ) Allowance for loan losses (54,127 ) (53,637 ) Total loans, net $ 4,700,232 $ 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 September 30, 2018 Allowance for loan losses: Beginning balance $ 2,939 $ 15,298 $ 7,334 $ 642 $ 4,616 $ 4 $ 10,161 $ 11,809 $ — $ 52,803 Charge-offs — — (80 ) (1 ) — — (788 ) (4,508 ) — (5,377 ) Recoveries 5 — 71 122 — — 105 365 — 668 Provision (623 ) (1,033 ) (347 ) (296 ) (356 ) — 1,255 7,433 — 6,033 Ending balance $ 2,321 $ 14,265 $ 6,978 $ 467 $ 4,260 $ 4 $ 10,733 $ 15,099 $ — $ 54,127 Three months ended September 30, 2017 Allowance for loan losses: Beginning balance $ 3,130 $ 18,840 $ 5,527 $ 1,264 $ 4,706 $ 9 $ 14,552 $ 8,328 $ — $ 56,356 Charge-offs (522 ) — — — — — (1,215 ) (3,160 ) — (4,897 ) Recoveries 33 — 164 259 — — 326 316 — 1,098 Provision 347 (2,800 ) (36 ) (141 ) 370 2 (595 ) 3,343 — 490 Ending balance $ 2,988 $ 16,040 $ 5,655 $ 1,382 $ 5,076 $ 11 $ 13,068 $ 8,827 $ — $ 53,047 Nine months ended September 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 ) — (224 ) (18 ) — — (1,930 ) (12,628 ) — (14,831 ) Recoveries 73 — 98 173 — — 1,555 1,085 — 2,984 Provision (623 ) (1,531 ) (418 ) (584 ) (411 ) (8 ) 257 15,655 — 12,337 Ending balance $ 2,321 $ 14,265 $ 6,978 $ 467 $ 4,260 $ 4 $ 10,733 $ 15,099 $ — $ 54,127 September 30, 2018 Ending balance: individually evaluated for impairment $ 1,020 $ 51 $ 1,088 $ — $ — $ — $ 728 $ 3 $ 2,890 Ending balance: collectively evaluated for impairment $ 1,301 $ 14,214 $ 5,890 $ 467 $ 4,260 $ 4 $ 10,005 $ 15,096 $ — $ 51,237 Financing Receivables: Ending balance $ 2,110,489 $ 733,749 $ 949,872 $ 12,982 $ 112,838 $ 13,441 $ 574,243 $ 247,058 $ 4,754,672 Ending balance: individually evaluated for impairment $ 17,703 $ 981 $ 14,602 $ 2,057 $ — $ — $ 5,727 $ 90 $ 41,160 Ending balance: collectively evaluated for impairment $ 2,092,786 $ 732,768 $ 935,270 $ 10,925 $ 112,838 $ 13,441 $ 568,516 $ 246,968 $ 4,713,512 Nine months ended September 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 (528 ) — (14 ) (92 ) — — (3,477 ) (8,360 ) — (12,471 ) Recoveries 91 — 294 477 — — 922 970 — 2,754 Provision 552 36 336 (741 ) (1,373 ) (1 ) (995 ) 9,417 — 7,231 Ending balance $ 2,988 $ 16,040 $ 5,655 $ 1,382 $ 5,076 $ 11 $ 13,068 $ 8,827 $ — $ 53,047 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: September 30, 2018 December 31, 2017 (in thousands) Commercial real estate Commercial construction Commercial Commercial real estate Commercial construction Commercial Grade: Pass $ 651,524 $ 88,049 $ 523,335 $ 630,877 $ 83,757 $ 492,942 Special mention 35,642 22,500 18,512 49,347 22,500 27,997 Substandard 46,583 2,289 32,396 52,882 2,016 23,421 Doubtful — — — — — 468 Loss — — — — — — Total $ 733,749 $ 112,838 $ 574,243 $ 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 September 30, 2018 Real estate: Residential 1-4 family $ 2,000 $ 2,254 $ 4,132 $ 8,386 $ 2,102,103 $ 2,110,489 $ — Commercial real estate — — — — 733,749 733,749 — Home equity line of credit 1,375 493 3,194 5,062 944,810 949,872 — Residential land — — 418 418 12,564 12,982 — Commercial construction — — — — 112,838 112,838 — Residential construction — — — — 13,441 13,441 — Commercial 1,053 417 463 1,933 572,310 574,243 — Consumer 4,679 2,200 1,969 8,848 238,210 247,058 — Total loans $ 9,107 $ 5,364 $ 10,176 $ 24,647 $ 4,730,025 $ 4,754,672 $ — 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) September 30, 2018 December 31, 2017 Real estate: Residential 1-4 family $ 12,768 $ 12,598 Commercial real estate — — Home equity line of credit 7,191 4,466 Residential land 516 841 Commercial construction — — Residential construction — — Commercial 4,176 3,069 Consumer 3,266 2,617 Total nonaccrual loans $ 27,917 $ 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 $ 10,701 $ 10,982 Commercial real estate 981 1,016 Home equity line of credit 11,131 6,584 Residential land 1,542 425 Commercial construction — — Residential construction — — Commercial 1,806 1,741 Consumer 63 66 Total troubled debt restructured loans not included above $ 26,224 $ 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: September 30, 2018 Three months ended September 30, 2018 Nine months ended September 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 $ 8,689 $ 9,200 $ — $ 8,940 $ 239 $ 8,779 $ 396 Commercial real estate — — — — — — — Home equity line of credit 2,359 2,714 — 2,234 23 2,103 35 Residential land 2,057 2,256 — 1,773 6 1,358 16 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 3,948 4,915 — 3,915 6 3,099 26 Consumer 32 32 — 33 — 18 — $ 17,085 $ 19,117 $ — $ 16,895 $ 274 $ 15,357 $ 473 With an allowance recorded Real estate: Residential 1-4 family $ 9,014 $ 9,218 $ 1,020 $ 8,820 $ 84 $ 8,909 $ 274 Commercial real estate 981 981 51 985 11 997 32 Home equity line of credit 12,243 12,327 1,088 12,090 111 10,083 288 Residential land — — — 20 — 45 3 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 1,779 1,779 728 1,774 28 1,824 94 Consumer 58 58 3 57 1 58 3 $ 24,075 $ 24,363 $ 2,890 $ 23,746 $ 235 $ 21,916 $ 694 Total Real estate: Residential 1-4 family $ 17,703 $ 18,418 $ 1,020 $ 17,760 $ 323 $ 17,688 $ 670 Commercial real estate 981 981 51 985 11 997 32 Home equity line of credit 14,602 15,041 1,088 14,324 134 12,186 323 Residential land 2,057 2,256 — 1,793 6 1,403 19 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 5,727 6,694 728 5,689 34 4,923 120 Consumer 90 90 3 90 1 76 3 $ 41,160 $ 43,480 $ 2,890 $ 40,641 $ 509 $ 37,273 $ 1,167 December 31, 2017 Three months ended September 30, 2017 Nine months ended September 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 $ — $ 9,650 $ 70 $ 9,503 $ 230 Commercial real estate — — — — — 121 11 Home equity line of credit 1,496 1,789 — 1,918 32 2,108 97 Residential land 1,143 1,434 — 1,209 73 1,080 107 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 2,328 3,166 — 1,808 29 2,888 37 Consumer 8 8 — — — — — $ 14,072 $ 16,041 $ — $ 14,585 $ 204 $ 15,700 $ 482 With an allowance recorded Real estate: Residential 1-4 family $ 9,187 $ 9,390 $ 1,248 $ 9,788 $ 97 $ 9,963 $ 333 Commercial real estate 1,016 1,016 65 1,284 13 1,292 41 Home equity line of credit 6,692 6,736 647 5,076 68 4,670 164 Residential land 122 122 47 1,251 12 1,620 73 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 2,246 2,252 694 2,482 225 4,104 694 Consumer 58 58 29 67 1 55 2 $ 19,321 $ 19,574 $ 2,730 $ 19,948 $ 416 $ 21,704 $ 1,307 Total Real estate: Residential 1-4 family $ 18,284 $ 19,034 $ 1,248 $ 19,438 $ 167 $ 19,466 $ 563 Commercial real estate 1,016 1,016 65 1,284 13 1,413 52 Home equity line of credit 8,188 8,525 647 6,994 100 6,778 261 Residential land 1,265 1,556 47 2,460 85 2,700 180 Commercial construction — — — — — — — Residential construction — — — — — — — Commercial 4,574 5,418 694 4,290 254 6,992 731 Consumer 66 66 29 67 1 55 2 $ 33,393 $ 35,615 $ 2,730 $ 34,533 $ 620 $ 37,404 $ 1,789 * Since loan was classified as impaired.
Schedule of loan modifications	Loan modifications that occurred during the third quarters and first nine months of 2018 and 2017 and the impact on the allowance for loan losses were as follows: Three months ended September 30, 2018 Nine months ended September 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 3 $ 632 $ 649 $ 1 4 $ 971 $ 993 $ 17 Commercial real estate — — — — — — — — Home equity line of credit 16 1,584 1,585 263 55 7,092 7,097 1,205 Residential land 3 1,562 1,568 — 4 1,671 1,677 — Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial 6 256 256 134 13 2,550 2,550 176 Consumer — — — — — — — — 28 $ 4,034 $ 4,058 $ 398 76 $ 12,284 $ 12,317 $ 1,398 Three months ended September 30, 2017 Nine months ended September 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 $ 83 $ 83 $ — 7 $ 955 $ 963 $ 45 Commercial real estate — — — — — — — — Home equity line of credit 15 862 862 184 28 1,386 1,372 277 Residential land — — — — — — — — Commercial construction — — — — — — — — Residential construction — — — — — — — — Commercial 1 330 330 38 2 672 672 38 Consumer — — — — 1 59 59 27 18 $ 1,275 $ 1,275 $ 222 38 $ 3,072 $ 3,066 $ 387 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 third quarters and first nine 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 September 30, 2018 Nine months ended September 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 81 Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial — — 1 291 Consumer — — — — — $ — 2 $ 372 Three months ended September 30, 2017 Nine months ended September 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 Commercial real estate — — — — Home equity line of credit — — — — Residential land — — — — Commercial construction — — — — Residential construction — — — — Commercial — — — — Consumer — — — — — $ — 1 $ 222
Schedule of amortized intangible assets	Changes in the carrying value of MSRs were as follows: (in thousands) Gross 1 Accumulated amortization 1 Valuation allowance Net September 30, 2018 $ 18,543 $ (10,117 ) $ — $ 8,426 December 31, 2017 17,511 (8,872 ) — 8,639 1 Reflects the impact of loans paid in full. Changes related to MSRs were as follows: Three months ended September 30 Nine months ended September 30 (in thousands) 2018 2017 2018 2017 Mortgage servicing rights Beginning balance $ 8,509 $ 9,181 $ 8,639 $ 9,373 Amount capitalized 305 394 1,032 1,192 Amortization (388 ) (505 ) (1,245 ) (1,495 ) Other-than-temporary impairment — — — — Carrying amount before valuation allowance 8,426 9,070 8,426 9,070 Valuation allowance for mortgage servicing rights Beginning balance — — — — Provision (recovery) — — — — Other-than-temporary impairment — — — — Ending balance — — — — Net carrying value of mortgage servicing rights $ 8,426 $ 9,070 $ 8,426 $ 9,070
Schedule of key assumptions used in estimating fair value	Key assumptions used in estimating the fair value of ASB’s MSRs used in the impairment analysis were as follows: (dollars in thousands) September 30, 2018 December 31, 2017 Unpaid principal balance $ 1,206,025 $ 1,195,454 Weighted average note rate 3.98 % 3.94 % Weighted average discount rate 10.0 % 10.0 % Weighted average prepayment speed 7.0 % 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 September 30, 2018 Home equity lines of credit $ 77 Fair value of collateral Appraised value less 7% selling cost N/A (2) Total loans $ 77 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. (2) N/A - Not applicable. There is one loan in each fair value measurement type.
Schedule of sensitivity analysis of fair value, transferor's interests in transferred financial assets	The sensitivity analysis of fair value of MSRs to hypothetical adverse changes of 25 and 50 basis points in certain key assumptions was as follows: (dollars in thousands) September 30, 2018 December 31, 2017 Prepayment rate: 25 basis points adverse rate change $ (379 ) $ (869 ) 50 basis points adverse rate change (836 ) (1,828 ) Discount rate: 25 basis points adverse rate change (134 ) (111 ) 50 basis points adverse rate change (265 ) (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 September 30, 2018 $ 71 $ — $ 71 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 Commercial account holders September 30, 2018 $ 71 $ 154 $ — December 31, 2017 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: September 30, 2018 December 31, 2017 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ — $ — $ 13,669 $ 131 Forward commitments — — 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 September 30, 2018 December 31, 2017 (in thousands) Asset derivatives Liability derivatives Asset derivatives Liability Interest rate lock commitments $ — $ — $ 133 $ 2 Forward commitments — — 4 28 $ — $ — $ 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 September 30 Nine months ended September 30 (in thousands) 2018 2017 2018 2017 Interest rate lock commitments Mortgage banking income $ (248 ) $ (119 ) $ (131 ) $ (414 ) Forward commitments Mortgage banking income 62 (90 ) 24 175 $ (186 ) $ (209 ) $ (107 ) $ (239 )

Credit agreements and long-te_2

Credit agreements and long-term debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of long-term debt	On October 4, 2018, HEI closed on a private placement transaction to issue $150 million senior unsecured notes in two tranches, as follows: HEI Series 2018A HEI Series 2018B Aggregate principal amount due at maturity $50 million $100 million Fixed coupon interest rate 4.58% 4.72% Maturity date December 15, 2025 December 15, 2028 Draw date October 4, 2018 December 18, 2018 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)	9 Months Ended
	Sep. 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) (22,768 ) — 1,581 (21,187 ) — 85 85 Balance, September 30, 2018 $ (37,719 ) $ — $ (25,409 ) $ (63,128 ) $ — $ (1,134 ) $ (1,134 ) Balance, December 31, 2016 $ (7,931 ) $ (454 ) $ (24,744 ) $ (33,129 ) $ (454 ) $ 132 $ (322 ) Current period other comprehensive income 2,452 454 1,003 3,909 454 67 521 Balance, September 30, 2017 $ (5,479 ) $ — $ (23,741 ) $ (29,220 ) $ — $ 199 $ 199
Schedule of reclassifications out of accumulated other comprehensive income/(loss)	Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Three months ended September 30 Nine months ended September 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 5,259 3,942 15,755 11,793 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (4,725 ) (3,596 ) (14,174 ) (10,790 ) See Note 8 for additional details Total reclassifications $ 534 $ 346 $ 1,581 $ 1,457 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 4,753 3,618 14,259 10,857 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (4,725 ) (3,596 ) (14,174 ) (10,790 ) See Note 8 for additional details Total reclassifications $ 28 $ 22 $ 85 $ 521

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 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 September 30, 2018 Nine months ended September 30, 2018 Electric utility Bank Other Total Electric utility Bank Other Total (in thousands) Revenues from contracts with customers Electric energy sales - residential $ 222,196 $ — $ — $ 222,196 $ 586,002 $ — $ — $ 586,002 Electric energy sales - commercial 229,476 — — 229,476 624,643 — — 624,643 Electric energy sales - large light and power 242,457 — — 242,457 649,454 — — 649,454 Electric energy sales - other 3,464 — — 3,464 9,944 — — 9,944 Utility fees 832 — — 832 2,380 — — 2,380 Bank fees — 11,743 — 11,743 — 34,797 — 34,797 Total revenues from contracts with customers 698,425 11,743 — 710,168 1,872,423 34,797 — 1,907,220 Revenues from other sources Regulatory revenue (13,572 ) — — (13,572 ) (13,465 ) — — (13,465 ) Bank interest and dividend income — 65,185 — 65,185 — 190,448 — 190,448 Other bank noninterest income — 3,568 — 3,568 — 7,774 — 7,774 Other 2,556 — 143 2,699 7,004 — 218 7,222 Total revenues from other sources (11,016 ) 68,753 143 57,880 (6,461 ) 198,222 218 191,979 Total revenues $ 687,409 $ 80,496 $ 143 $ 768,048 $ 1,865,962 $ 233,019 $ 218 $ 2,099,199 Timing of revenue recognition Services/goods transferred at a point in time $ 832 $ 11,743 $ — $ 12,575 $ 2,380 $ 34,797 $ — $ 37,177 Services/goods transferred over time 697,593 — — 697,593 1,870,043 — — 1,870,043 Total revenues from contracts with customers $ 698,425 $ 11,743 $ — $ 710,168 $ 1,872,423 $ 34,797 $ — $ 1,907,220

Retirement benefits (Tables)

Retirement benefits (Tables)	9 Months Ended
	Sep. 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 September 30 Nine months ended September 30 Pension benefits Other benefits Pension benefits Other benefits (in thousands) 2018 2017 2018 2017 2018 2017 2018 2017 HEI consolidated Service cost $ 17,223 $ 16,271 $ 680 $ 843 $ 51,764 $ 48,635 $ 2,041 $ 2,530 Interest cost 19,340 20,304 1,986 2,363 58,033 60,881 5,947 7,089 Expected return on plan assets (27,237 ) (25,689 ) (3,224 ) (3,078 ) (81,715 ) (77,056 ) (9,683 ) (9,248 ) Amortization of net prior service gain (11 ) (14 ) (451 ) (448 ) (32 ) (41 ) (1,354 ) (1,345 ) Amortization of net actuarial loss 7,527 6,638 25 283 22,556 19,858 71 848 Net periodic pension/benefit cost (return) 16,842 17,510 (984 ) (37 ) 50,606 52,277 (2,978 ) (126 ) Impact of PUC D&Os 7,785 (4,534 ) 953 346 17,621 (14,557 ) 3,048 1,019 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 24,627 $ 12,976 $ (31 ) $ 309 $ 68,227 $ 37,720 $ 70 $ 893 Hawaiian Electric consolidated Service cost $ 16,840 $ 15,764 $ 676 $ 839 $ 50,520 $ 47,294 $ 2,028 $ 2,515 Interest cost 17,824 18,659 1,907 2,279 53,471 55,974 5,721 6,837 Expected return on plan assets (25,593 ) (23,973 ) (3,178 ) (3,037 ) (76,777 ) (71,919 ) (9,534 ) (9,110 ) Amortization of net prior service loss (gain) 2 2 (451 ) (451 ) 6 6 (1,353 ) (1,353 ) Amortization of net actuarial loss 6,826 6,098 25 275 20,477 18,294 74 826 Net periodic pension/benefit cost (return) 15,899 16,550 (1,021 ) (95 ) 47,697 49,649 (3,064 ) (285 ) Impact of PUC D&Os 7,785 (4,534 ) 953 346 17,621 (14,557 ) 3,048 1,019 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 23,684 $ 12,016 $ (68 ) $ 251 $ 65,318 $ 35,092 $ (16 ) $ 734

Share-based compensation (Table

Share-based compensation (Tables)	9 Months Ended
	Sep. 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 September 30 Nine months ended September 30 (in millions) 2018 2017 2018 2017 HEI consolidated Share-based compensation expense 1 $ 1.5 $ 1.1 $ 5.9 $ 4.4 Income tax benefit 0.2 0.4 0.9 1.5 Hawaiian Electric consolidated Share-based compensation expense 1 0.6 0.4 2.1 1.6 Income tax benefit 0.1 0.2 0.4 0.6 1 For the three and nine months ended September 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 September 30 Nine months ended September 30 (dollars in millions) 2018 2017 2018 2017 Shares granted — — 38,821 35,770 Fair value $ — $ — $ 1.3 $ 1.2 Income tax benefit — — 0.3 0.5
Schedule of restricted stock units	Information about HEI’s grants of restricted stock units was as follows: Three months ended September 30 Nine months ended September 30 2018 2017 2018 2017 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 200,856 $ 33.03 206,483 $ 31.50 197,047 $ 31.53 220,683 $ 29.57 Granted 1,789 35.61 — — 93,853 34.12 97,873 33.47 Vested — — (687 ) 24.48 (75,683 ) 30.56 (89,681 ) 28.84 Forfeited (2,287 ) 32.83 — — (14,859 ) 32.35 (23,079 ) 31.50 Outstanding, end of period 200,358 $ 33.05 205,796 $ 31.53 200,358 $ 33.05 205,796 $ 31.53 Total weighted-average grant-date fair value of shares granted (in millions) $ 0.1 $ — $ 3.2 $ 3.3 (1) Weighted-average grant-date fair value per share based on the average price of HEI common stock on the date of grant.
Schedule of Long-Term Incentive Plan (LTIP) linked to total return to shareholders	Information about HEI’s LTIP grants linked to TSR was as follows: Three months ended September 30 Nine months ended September 30 2018 2017 2018 2017 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 66,177 $ 38.82 33,770 $ 39.51 32,904 $ 39.51 83,106 $ 22.95 Granted 878 38.20 — — 37,819 38.21 37,204 39.51 Vested (issued or unissued and cancelled) — — — — — — (83,106 ) 22.95 Forfeited (1,490 ) 38.85 — — (5,158 ) 38.84 (3,434 ) 39.51 Outstanding, end of period 65,565 $ 38.81 33,770 $ 39.51 65,565 $ 38.81 33,770 $ 39.51 Total weighted-average grant-date fair value of shares granted (in millions) $ — $ — $ 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 MSRs used in the impairment analysis were as follows: (dollars in thousands) September 30, 2018 December 31, 2017 Unpaid principal balance $ 1,206,025 $ 1,195,454 Weighted average note rate 3.98 % 3.94 % Weighted average discount rate 10.0 % 10.0 % Weighted average prepayment speed 7.0 % 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 September 30, 2018 Home equity lines of credit $ 77 Fair value of collateral Appraised value less 7% selling cost N/A (2) Total loans $ 77 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. (2) N/A - Not applicable. There is one loan in each fair value measurement type.
Schedule of Long-Term Incentive Plan (LTIP) linked to other performance conditions	Information about HEI’s LTIP awards payable in shares linked to other performance conditions was as follows: Three months ended September 30 Nine months ended September 30 2018 2017 2018 2017 Shares (1) Shares (1) Shares (1) Shares (1) Outstanding, beginning of period 264,707 $ 33.79 135,078 $ 33.47 131,616 $ 33.47 109,816 $ 25.18 Granted 3,511 35.58 — — 151,277 34.12 148,818 33.47 Vested — — — — — — (109,816 ) 25.18 Forfeited (5,958 ) 33.80 — — (20,633 ) 33.80 (13,740 ) 33.48 Outstanding, end of period 262,260 $ 33.82 135,078 $ 33.47 262,260 $ 33.82 135,078 $ 33.47 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ 0.1 $ — $ 5.2 $ 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)	9 Months Ended
	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental disclosures of cash and noncash activity	Nine months ended September 30 2018 2017 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates $ 67 $ 62 Income taxes paid (including refundable credits) 50 32 Hawaiian Electric consolidated Interest paid to non-affiliates 44 45 Income taxes paid (including refundable credits) 47 9 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 6 3 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 42 35 Loans transferred from held for investment to held for sale (investing) 1 41 Common stock issued (gross) for director and executive/management compensation (financing) 1 4 11 Obligations to fund low income housing investments (investing) 12 10 Transfer of retail repurchase agreements to deposit liabilities (financing) 102 — Hawaiian Electric consolidated Electric utility property, plant and equipment Estimated fair value of noncash contributions in aid of construction (investing) 6 3 Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 28 32 1 The amounts shown represent the market value of common stock issued for director and executive/management compensation and withheld to satisfy statutory tax liabilities.

Fair value measurements (Tables

Fair value measurements (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2018 Financial assets HEI consolidated Available-for-sale investment securities $ 1,387,571 $ — $ 1,368,487 $ 19,084 $ 1,387,571 Held-to-maturity investment securities 102,498 — 99,929 — 99,929 Stock in Federal Home Loan Bank 8,158 — 8,158 — 8,158 Loans, net 4,701,268 — 1,031 4,671,635 4,672,666 Mortgage servicing rights 8,426 — — 13,443 13,443 Financial liabilities HEI consolidated Deposit liabilities 1 805,117 — 791,753 — 791,753 Short-term borrowings—other than bank 203,359 — 203,359 — 203,359 Other bank borrowings 71,110 — 71,107 — 71,107 Long-term debt, net—other than bank 1,782,242 — 1,805,682 — 1,805,682 Derivative liabilities 3,023 — 27 — 27 Hawaiian Electric consolidated Short-term borrowings 85,913 — 85,913 — 85,913 Long-term debt, net 1,468,624 — 1,503,508 — 1,503,508 Derivative liabilities-window forward contracts 3,023 — 27 — 27 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 September 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: September 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 $ — $ 1,148,690 $ — $ — $ 1,201,473 $ — U.S. Treasury and federal agency obligations — 170,414 — — 184,298 — Corporate bonds — 49,383 — — — — Mortgage revenue bonds — — 19,084 — — 15,427 $ — $ 1,368,487 $ 19,084 $ — $ 1,385,771 $ 15,427 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ — $ — $ — $ 133 $ — Forward commitments (bank segment) 1 — — — — 4 — Window forward contracts (electric utility segment) 2 — — — — 256 — $ — $ — $ — $ — $ 393 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ — $ — $ — $ 2 $ — Forward commitments (bank segment) 1 — — — 20 8 — Window forward contracts (electric utility segment) 2 — 27 — — — — $ — $ 27 $ — $ 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 September 30 Nine months ended September 30 Mortgage revenue bonds 2018 2017 2018 2017 (in thousands) Beginning balance $ 15,427 $ 15,427 $ 15,427 $ 15,427 Principal payments received — — — — Purchases 3,657 — 3,657 — Unrealized gain (loss) included in other comprehensive income — — — — Ending balance $ 19,084 $ 15,427 $ 19,084 $ 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 Loans September 30, 2018 $ 77 $ — $ — $ 77 December 31, 2017 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 MSRs used in the impairment analysis were as follows: (dollars in thousands) September 30, 2018 December 31, 2017 Unpaid principal balance $ 1,206,025 $ 1,195,454 Weighted average note rate 3.98 % 3.94 % Weighted average discount rate 10.0 % 10.0 % Weighted average prepayment speed 7.0 % 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 September 30, 2018 Home equity lines of credit $ 77 Fair value of collateral Appraised value less 7% selling cost N/A (2) Total loans $ 77 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. (2) N/A - Not applicable. There is one loan in each fair value measurement type.

Basis of presentation (Details)

Basis of presentation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses	$ 669,984	$ 561,712	$ 1,850,447	$ 1,638,015
Operating income	98,064	111,473	248,752	259,013
Retirement defined benefits expense—other than service costs	(1,276)	(1,928)	(4,673)	(5,710)
Increase (decrease) in accounts, interest and dividends payable			(7,122)	18,581
Net cash provided by operating activities			257,679	320,114
Net cash used in investing activities			(541,761)	(469,330)
Capital expenditures			(404,984)	(343,375)
Hawaiian Electric Company, Inc. and Subsidiaries
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses	613,373	510,272	1,685,413	1,478,915
Operating income	74,036	88,497	180,549	195,340
Retirement defined benefits expense—other than service costs	(682)	(1,421)	(2,934)	(4,279)
Other operation and maintenance	113,553	98,681	333,805	302,437
Net cash provided by operating activities			193,722	258,873
Net cash used in investing activities			(300,558)	(258,258)
Capital expenditures			(334,730)	(306,975)
Increase (decrease) in accounts payable			(8,712)	6,130
Hawaiian Electric (parent only)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		366,394		1,054,570
Operating income		62,873		131,954
Retirement defined benefits expense—other than service costs		(1,225)		(3,812)
Other operation and maintenance		64,996		200,648
Hawaii Electric Light Company, Inc. (HELCO)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		71,307		212,875
Operating income		13,027		32,151
Retirement defined benefits expense—other than service costs		15		183
Other operation and maintenance		16,608		49,850
Maui Electric
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		72,571		211,470
Operating income		12,627		31,286
Retirement defined benefits expense—other than service costs		(211)		(650)
Other operation and maintenance		17,077		51,939
American Savings Bank (ASB)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses	53,232	47,313	153,951	146,146
Operating income	27,264	26,976	79,068	76,328
Retirement defined benefits expense—other than service costs	433	212	1,223	608
Compensation and employee benefits	23,952	23,512	72,047	71,095
Other expense	4,240	5,262	12,897	14,674
Electric utility
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses	613,373	510,272	1,685,413	1,478,915
Operating income	74,036	88,497	180,549	195,340
Bank
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses	53,232	47,313	153,951	146,146
Operating income	27,264	26,976	79,068	76,328
Other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses	3,379	4,127	11,083	12,954
Operating income	$ (3,236)	(4,000)	$ (10,865)	(12,655)
As previously filed
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		563,640		1,643,725
Operating income		109,545		253,303
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		511,693		1,483,194
Operating income		87,076		191,061
Retirement defined benefits expense—other than service costs		0		0
Other operation and maintenance		100,102		306,716
As previously filed | Hawaiian Electric (parent only)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		367,619		1,058,382
Operating income		61,648		128,142
Retirement defined benefits expense—other than service costs		0		0
Other operation and maintenance		66,221		204,460
As previously filed | Hawaii Electric Light Company, Inc. (HELCO)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		71,292		212,692
Operating income		13,042		32,334
Retirement defined benefits expense—other than service costs		0		0
Other operation and maintenance		16,593		49,667
As previously filed | Maui Electric
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		72,782		212,120
Operating income		12,416		30,636
Retirement defined benefits expense—other than service costs		0		0
Other operation and maintenance		17,288		52,589
As previously filed | American Savings Bank (ASB)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Compensation and employee benefits		23,724		71,703
Other expense		5,050		14,066
As previously filed | Electric utility
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		511,693		1,483,194
Operating income		87,076		191,061
As previously filed | Bank
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		47,525		146,754
Operating income		26,764		75,720
As previously filed | Other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		4,422		13,777
Operating income		(4,295)		(13,478)
Adjustment | Hawaiian Electric (parent only)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) in accounts, interest and dividends payable				28,971
Net cash provided by operating activities				28,971
Net cash used in investing activities				(28,971)
Capital expenditures				(28,971)
Increase (decrease) in accounts payable				28,971
Adjustment | ASU 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(1,928)		(5,710)
Operating income		1,928		5,710
Retirement defined benefits expense—other than service costs		(1,928)		(5,710)
Adjustment | ASU 2017-07 | Hawaiian Electric Company, Inc. and Subsidiaries
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(1,421)		(4,279)
Operating income		1,421		4,279
Retirement defined benefits expense—other than service costs		(1,421)		(4,279)
Other operation and maintenance		(1,421)		(4,279)
Adjustment | ASU 2017-07 | Hawaiian Electric (parent only)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(1,225)		(3,812)
Operating income		1,225		3,812
Retirement defined benefits expense—other than service costs		(1,225)		(3,812)
Other operation and maintenance		(1,225)		(3,812)
Adjustment | ASU 2017-07 | Hawaii Electric Light Company, Inc. (HELCO)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		15		183
Operating income		(15)		(183)
Retirement defined benefits expense—other than service costs		15		183
Other operation and maintenance		15		183
Adjustment | ASU 2017-07 | Maui Electric
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(211)		(650)
Operating income		211		650
Retirement defined benefits expense—other than service costs		(211)		(650)
Other operation and maintenance		(211)		(650)
Adjustment | ASU 2017-07 | American Savings Bank (ASB)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Compensation and employee benefits		(212)		(608)
Other expense		212		608
Adjustment | ASU 2017-07 | Electric utility
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(1,421)		(4,279)
Operating income		1,421		4,279
Adjustment | ASU 2017-07 | Bank
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(212)		(608)
Operating income		212		608
Adjustment | ASU 2017-07 | Other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs and expenses		(295)		(823)
Operating income		$ 295		$ 823

Segment financial information_2

Segment financial information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Segment financial information
Total revenues	$ 768,048	$ 673,185	$ 2,099,199	$ 1,897,028
Income (loss) before income taxes	77,233	95,139	190,091	206,347
Income taxes (benefit)	10,862	34,595	36,473	72,003
Net income	66,371	60,544	153,618	134,344
Preferred stock dividends of subsidiaries	471	471	1,417	1,417
Net income for common stock	65,900	60,073	152,201	132,927
Total assets	12,911,554		12,911,554		$ 12,534,160
Revenues from external customers
Segment financial information
Total revenues	768,048	673,185	2,099,199	1,897,028
Intersegment revenues (eliminations)
Segment financial information
Total revenues	0	0	0	0
Electric utility
Segment financial information
Total revenues	687,409	598,769	1,865,962	1,674,255
Income (loss) before income taxes	57,354	74,990	134,847	150,715
Income taxes (benefit)	7,144	27,005	24,995	54,623
Net income	50,210	47,985	109,852	96,092
Preferred stock dividends of subsidiaries	498	498	1,496	1,496
Net income for common stock	49,712	47,487	108,356	94,596
Total assets	5,882,127		5,882,127		5,630,613
Electric utility | Revenues from external customers
Segment financial information
Total revenues	687,396	598,756	1,865,922	1,674,158
Electric utility | Intersegment revenues (eliminations)
Segment financial information
Total revenues	13	13	40	97
Bank
Segment financial information
Total revenues	80,496	74,289	233,019	222,474
Income (loss) before income taxes	26,831	26,764	77,845	75,720
Income taxes (benefit)	5,610	9,172	17,103	25,582
Net income	21,221	17,592	60,742	50,138
Preferred stock dividends of subsidiaries	0	0	0	0
Net income for common stock	21,221	17,592	60,742	50,138
Total assets	6,929,456		6,929,456		6,798,659
Bank | Revenues from external customers
Segment financial information
Total revenues	80,496	74,289	233,019	222,474
Bank | Intersegment revenues (eliminations)
Segment financial information
Total revenues	0	0	0	0
Other
Segment financial information
Total revenues	143	127	218	299
Income (loss) before income taxes	(6,952)	(6,615)	(22,601)	(20,088)
Income taxes (benefit)	(1,892)	(1,582)	(5,625)	(8,202)
Net income	(5,060)	(5,033)	(16,976)	(11,886)
Preferred stock dividends of subsidiaries	(27)	(27)	(79)	(79)
Net income for common stock	(5,033)	(5,006)	(16,897)	(11,807)
Total assets	99,971		99,971		$ 104,888
Other | Revenues from external customers
Segment financial information
Total revenues	156	140	258	396
Other | Intersegment revenues (eliminations)
Segment financial information
Total revenues	$ (13)	$ (13)	$ (40)	$ (97)

Electric utility segment - Taxe

Electric utility segment - Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Hawaiian Electric Company, Inc. and Subsidiaries
Revenue taxes
Revenue taxes included in operating revenues and in taxes other than income taxes expense	$ 61	$ 54	$ 166	$ 150

Electric utility segment - HECO

Electric utility segment - HECO Capital Trust III (Details) - VIE, Not Primary Beneficiary - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Variable Interest Entity [Line Items]
Investments	$ 51,500		$ 51,500
Investment income, interest	2,500	$ 2,500
Trust Preferred Securities Subject to Mandatory Redemption | Hawaiian Electric Company
Variable Interest Entity [Line Items]
Convertible preferred stock	50,000		50,000
Distributions to holders of Trust Preferred Securities	2,400	2,400
Trust Common Securities | Hawaiian Electric Company
Variable Interest Entity [Line Items]
Convertible preferred stock	1,500		$ 1,500
Common dividends on the trust common securities	$ 75	$ 75

Electric utility segment - Unco

Electric utility segment - Unconsolidated variable interest entities (Details) - Hawaiian Electric Company	9 Months Ended
	Sep. 30, 2018agreemententity
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)	0
Number of IPPs	3
Number of firm capacity producers declining to provide financial information to determine primary beneficiary status (in entities)	2
Minimum potential number of IPP entities consolidated into company in the future (in entities)	1

Electric utility segment - Powe

Electric utility segment - Power purchase agreements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	$ 177	$ 161	$ 478	$ 441
Hawaiian Electric (parent only) | Kalaeloa Partners, L.P. (Kalaeloa)
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	62	48	154	136
Hawaiian Electric (parent only) | AES Hawaii
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	38	39	107	103
Hawaiian Electric (parent only) | HPOWER
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	19	18	51	51
Hawaiian Electric (parent only) | Puna Geothermal Venture
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	0	10	15	28
Hawaiian Electric (parent only) | Hamakua Energy Partners, L.P. (HEP)
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	17	8	39	25
Hawaiian Electric (parent only) | Other IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power	$ 41	$ 38	$ 112	$ 98

Electric utility segment - Comm

Electric utility segment - Commitments and contingencies (Details)

Jun. 07, 2018USD ($)

Aug. 11, 2016USD ($)

May 23, 2016

Jan. 05, 2016USD ($)

Jun. 30, 2017$ / kWh

Jul. 31, 2016MW

Sep. 30, 2015

Jun. 30, 2015MW

Aug. 31, 2012MW

May 31, 2012MW

Mar. 31, 1988MW

Dec. 31, 1988MW

Sep. 30, 2018USD ($)

Sep. 30, 2018USD ($)

Sep. 30, 2018USD ($)

Dec. 31, 2017USD ($)

Sep. 30, 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

ERP/EAM project service period (in years)

12 years

AFUDC rate

1.75%

ERP/EAM implementation project costs

$ 73,300,000

ERP/EAM implementation project, operations and management

12,900,000

ERP/EAM implementation project, capital costs

2,600,000

ERP/EAM implementation project, deferred costs

57,800,000

Schofield generating station facility capacity (in megawatts) | MW

50

Project lease term (in years)

35 years

Schofield generating station project, budgetary cap

$ 157,300,000

Effective amount recoverable through MPIR

141,600,000

$ 141,600,000

$ 141,600,000

Percent of costs recoverable through recovery mechanisms other than base rates

90.00%

Annualized operation and maintenance expense

$ 1,800,000

Project cost incurred

142,500,000

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

28,600,000

Accounts receivable and unbilled revenues, net

336,309,000

336,309,000

336,309,000

$ 263,209,000

PCB Contamination

Environmental regulation

Valuation allowances and reserves

4,600,000

4,600,000

4,600,000

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

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

Hawaiian Telcom

Regulatory Projects and Legal Obligations [Line Items]

Accounts receivable and unbilled revenues, net

48,000,000

48,000,000

48,000,000

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

Maui Electric

Environmental regulation

Additional accrued investigation and estimated cleanup costs

2,700,000

2,700,000

2,700,000

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

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 - Regu

Electric utility segment - Regulatory Proceedings (Details)	Apr. 27, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2018USD ($)$ / kWh
Electric utility subsidiary [Abstract]
Threshold of capital expenditures in excess of customer contributions for qualification for major project interim recovery	$ 2,500,000
MPIR requested amount	$ 3,400,000
Decoupling order, service reliability performance, historical measurement period (in years)			10 years
Maximum penalty, percent of ROE			0.20%
Service reliability, pending adjusted maximum penalty amount			$ 6,700,000
Dead band percentage above or below the target			3.00%
Call center performance, maximum penalty percentage			0.08%
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
Energy price, renewable projects with storage capacity (in dollars per kilowatt hour) | $ / kWh			0.115
Energy price, renewable energy-only projects (in dollars per kilowatt hour) | $ / kWh			0.095
Expected savings, phase 1, percent			20.00%
Performance incentive mechanism, incentive cap		$ 3,500,000	$ 3,000,000
Expected savings, Phase 2, January 2019			15.00%
Expected savings, Phase 2, February 2019			10.00%
Expected savings, Phase 2, March 2019			5.00%
Performance incentive mechanism penalty			$ 0

Electric utility segment - Annu

Electric utility segment - Annual decoupling filings summary (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
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 - Rate

Electric utility segment - Rate proceedings (Details) - USD ($) $ in Millions	Aug. 09, 2018	Jun. 22, 2018	May 01, 2018	Feb. 16, 2018	Aug. 21, 2017	Aug. 31, 2017
Regulatory Projects and Legal Obligations [Line Items]
Interim rate increases				$ 36
Rate increase before tax act impact		$ 37.7
Tax act impact on rate, amount		$ 38.3
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		$ 2.5
Maui Electric
Regulatory Projects and Legal Obligations [Line Items]
Interim general rate increase granted	$ 12.5
Effective interest rate of return	7.43%
Stipulated ROACE rate	9.50%
Common equity capitalization rate	57.00%
Rate Base	$ 462
HELCO
Regulatory Projects and Legal Obligations [Line Items]
Interim rate increases			$ (9.9)
Interim general rate increase granted					$ 9.9
Stipulated ROACE rate						9.50%

Electric utility segment - Cond

Electric utility segment - Condensed consolidating statement of income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Condensed Income Statements, Captions [Line Items]
Revenues	$ 768,048	$ 673,185	$ 2,099,199	$ 1,897,028
Expenses
Purchased power	177,000	161,000	478,000	441,000
Total expenses	669,984	561,712	1,850,447	1,638,015
Total operating income	98,064	111,473	248,752	259,013
Allowance for equity funds used during construction	1,962	3,482	8,239	8,908
Retirement defined benefits expense—other than service costs	(1,276)	(1,928)	(4,673)	(5,710)
Allowance for borrowed funds used during construction	1,006	1,339	3,815	3,371
Income before income taxes	77,233	95,139	190,091	206,347
Income taxes	10,862	34,595	36,473	72,003
Net income	66,371	60,544	153,618	134,344
Preferred stock dividends of subsidiaries	471	471	1,417	1,417
Net income for common stock	65,900	60,073	152,201	132,927
Consolidating adjustments
Condensed Income Statements, Captions [Line Items]
Revenues	(55)	(30)	(156)	(51)
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	(55)	(30)	(156)	(51)
Allowance for equity funds used during construction	0	0	0	0
Equity in earnings of subsidiaries	(16,636)	(12,767)	(35,041)	(29,306)
Retirement defined benefits expense—other than service costs	0	0	0	0
Interest expense and other charges, net	55	30	156	51
Allowance for borrowed funds used during construction	0	0	0	0
Income before income taxes	(16,636)	(12,767)	(35,041)	(29,306)
Income taxes	0	0	0	0
Net income	(16,636)	(12,767)	(35,041)	(29,306)
Preferred stock dividends of subsidiaries	0	0	0	0
Net income attributable to Hawaiian Electric	(16,636)	(12,767)	(35,041)	(29,306)
Preferred stock dividends of Hawaiian Electric	0	0	0	0
Net income for common stock	(16,636)	(12,767)	(35,041)	(29,306)
Hawaiian Electric (parent only)
Expenses
Other operation and maintenance		64,996		200,648
Total expenses		366,394		1,054,570
Total operating income		62,873		131,954
Retirement defined benefits expense—other than service costs		(1,225)		(3,812)
Hawaiian Electric (parent only) | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	488,210	429,267	1,321,089	1,186,524
Expenses
Fuel oil	141,357	103,959	375,862	301,774
Purchased power	138,135	123,893	367,317	340,498
Other operation and maintenance	78,988	64,996	228,773	200,648
Depreciation	34,282	32,722	103,112	98,167
Taxes, other than income taxes	46,096	40,824	125,214	113,483
Total expenses	438,858	366,394	1,200,278	1,054,570
Total operating income	49,352	62,873	120,811	131,954
Allowance for equity funds used during construction	1,648	3,108	7,123	7,823
Equity in earnings of subsidiaries	16,636	12,767	35,041	29,306
Retirement defined benefits expense—other than service costs	(475)	(1,225)	(2,091)	(3,812)
Interest expense and other charges, net	(13,542)	(11,786)	(38,967)	(36,405)
Allowance for borrowed funds used during construction	810	1,173	3,198	2,910
Income before income taxes	54,429	66,910	125,115	131,776
Income taxes	4,447	19,153	15,949	36,370
Net income	49,982	47,757	109,166	95,406
Preferred stock dividends of subsidiaries	0	0	0	0
Net income attributable to Hawaiian Electric	49,982	47,757	109,166	95,406
Preferred stock dividends of Hawaiian Electric	270	270	810	810
Net income for common stock	49,712	47,487	108,356	94,596
HELCO
Expenses
Other operation and maintenance		16,608		49,850
Total expenses		71,307		212,875
Total operating income		13,027		32,151
Retirement defined benefits expense—other than service costs		15		183
HELCO | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	98,981	84,334	276,462	245,026
Expenses
Fuel oil	26,429	15,754	64,348	47,486
Purchased power	24,091	21,332	72,589	63,403
Other operation and maintenance	15,253	16,608	50,366	49,850
Depreciation	10,072	9,685	30,165	29,056
Taxes, other than income taxes	9,215	7,928	25,835	23,080
Total expenses	85,060	71,307	243,303	212,875
Total operating income	13,921	13,027	33,159	32,151
Allowance for equity funds used during construction	39	167	274	416
Equity in earnings of subsidiaries	0	0	0	0
Retirement defined benefits expense—other than service costs	(104)	15	(312)	183
Interest expense and other charges, net	(3,026)	(2,899)	(8,855)	(8,899)
Allowance for borrowed funds used during construction	49	72	190	172
Income before income taxes	10,879	10,382	24,456	24,023
Income taxes	1,571	3,815	5,017	8,973
Net income	9,308	6,567	19,439	15,050
Preferred stock dividends of subsidiaries	133	133	400	400
Net income attributable to Hawaiian Electric	9,175	6,434	19,039	14,650
Preferred stock dividends of Hawaiian Electric	0	0	0	0
Net income for common stock	9,175	6,434	19,039	14,650
Maui Electric
Expenses
Other operation and maintenance		17,077		51,939
Total expenses		72,571		211,470
Total operating income		12,627		31,286
Retirement defined benefits expense—other than service costs		(211)		(650)
Maui Electric | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	100,273	85,198	268,567	242,756
Expenses
Fuel oil	38,765	26,545	105,026	82,527
Purchased power	15,364	15,122	38,332	36,637
Other operation and maintenance	19,312	17,077	54,666	51,939
Depreciation	6,629	5,799	18,533	17,355
Taxes, other than income taxes	9,385	8,028	25,275	23,012
Total expenses	89,455	72,571	241,832	211,470
Total operating income	10,818	12,627	26,735	31,286
Allowance for equity funds used during construction	275	207	842	669
Equity in earnings of subsidiaries	0	0	0	0
Retirement defined benefits expense—other than service costs	(103)	(211)	(531)	(650)
Interest expense and other charges, net	(2,455)	(2,252)	(7,156)	(7,372)
Allowance for borrowed funds used during construction	147	94	427	289
Income before income taxes	8,682	10,465	20,317	24,222
Income taxes	1,126	4,037	4,029	9,280
Net income	7,556	6,428	16,288	14,942
Preferred stock dividends of subsidiaries	95	95	286	286
Net income attributable to Hawaiian Electric	7,461	6,333	16,002	14,656
Preferred stock dividends of Hawaiian Electric	0	0	0	0
Net income for common stock	7,461	6,333	16,002	14,656
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
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	687,409	598,769	1,865,962	1,674,255
Expenses
Fuel oil	206,551	146,258	545,236	431,787
Purchased power	177,590	160,347	478,238	440,538
Other operation and maintenance	113,553	98,681	333,805	302,437
Depreciation	50,983	48,206	151,810	144,578
Taxes, other than income taxes	64,696	56,780	176,324	159,575
Total expenses	613,373	510,272	1,685,413	1,478,915
Total operating income	74,036	88,497	180,549	195,340
Allowance for equity funds used during construction	1,962	3,482	8,239	8,908
Equity in earnings of subsidiaries	0	0	0	0
Retirement defined benefits expense—other than service costs	(682)	(1,421)	(2,934)	(4,279)
Interest expense and other charges, net	(18,968)	(16,907)	(54,822)	(52,625)
Allowance for borrowed funds used during construction	1,006	1,339	3,815	3,371
Income before income taxes	57,354	74,990	134,847	150,715
Income taxes	7,144	27,005	24,995	54,623
Net income	50,210	47,985	109,852	96,092
Preferred stock dividends of subsidiaries	228	228	686	686
Net income attributable to Hawaiian Electric	49,982	47,757	109,166	95,406
Preferred stock dividends of Hawaiian Electric	270	270	810	810
Net income for common stock	$ 49,712	$ 47,487	$ 108,356	$ 94,596

Electric utility segment - Co_2

Electric utility segment - Condensed consolidating statement of comprehensive income (loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Condensed Statement of Income Captions [Line Items]
Net income for common stock	$ 65,900	$ 60,073	$ 152,201	$ 132,927
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	5,259	3,942	15,755	11,793
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,725)	(3,596)	(14,174)	(10,790)
Other comprehensive income (loss), net of taxes	(4,589)	554	(21,187)	3,909
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	61,311	60,627	131,014	136,836
Consolidating adjustments
Condensed Statement of Income Captions [Line Items]
Net income for common stock	(16,636)	(12,767)	(35,041)	(29,306)
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	(1,311)	(880)	(3,931)	(2,642)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	1,311	880	3,930	2,641
Other comprehensive income (loss), net of taxes	0	0	(1)	(1)
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	(16,636)	(12,767)	(35,042)	(29,307)
Hawaiian Electric (parent only) | Reportable Legal Entities
Condensed Statement of Income Captions [Line Items]
Net income for common stock	49,712	47,487	108,356	94,596
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	4,753	3,618	14,259	10,857
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,725)	(3,596)	(14,174)	(10,790)
Other comprehensive income (loss), net of taxes	28	22	85	521
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	49,740	47,509	108,441	95,117
HELCO | Reportable Legal Entities
Condensed Statement of Income Captions [Line Items]
Net income for common stock	9,175	6,434	19,039	14,650
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	705	476	2,114	1,428
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(705)	(476)	(2,113)	(1,427)
Other comprehensive income (loss), net of taxes	0	0	1	1
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	9,175	6,434	19,040	14,651
Maui Electric | Reportable Legal Entities
Condensed Statement of Income Captions [Line Items]
Net income for common stock	7,461	6,333	16,002	14,656
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	606	404	1,817	1,214
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(606)	(404)	(1,817)	(1,214)
Other comprehensive income (loss), net of taxes	0	0	0	0
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	7,461	6,333	16,002	14,656
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	49,712	47,487	108,356	94,596
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	4,753	3,618	14,259	10,857
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,725)	(3,596)	(14,174)	(10,790)
Other comprehensive income (loss), net of taxes	28	22	85	521
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	$ 49,740	$ 47,509	$ 108,441	$ 95,117

Electric utility segment - Co_3

Electric utility segment - Condensed consolidating balance sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Utility property, plant and equipment
Total property, plant and equipment, net	$ 4,694,101	$ 4,460,248
Current assets
Cash and cash equivalents	172,054	261,881	$ 202,173	$ 278,452
Other long-term assets
Total assets	12,911,554	12,534,160
Capitalization
Common stock equity	2,132,045	2,097,386	2,103,022	2,066,753
Cumulative preferred stock—not subject to mandatory redemption	0	0
Current liabilities
Interest and preferred dividends payable	30,280	25,837
Deferred credits and other liabilities
Deferred income taxes	385,651	388,430
Total liabilities and shareholders’ equity	12,911,554	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	(571,574)	(557,013)
Current assets
Cash and cash equivalents	0	0	0	0
Advances to affiliates	(2,000)	(12,000)
Customer accounts receivable, net	0	0
Accrued unbilled revenues, net	0	0
Other accounts receivable, net	(9,355)	(7,691)
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	(11,355)	(19,691)
Other long-term assets
Regulatory assets	0	0
Other	0	0
Total other long-term assets	0	0
Total assets	(582,929)	(576,704)
Capitalization
Common stock equity	(571,574)	(557,013)	(559,671)	(550,946)
Cumulative preferred stock—not subject to mandatory redemption	0	0
Long-term debt, net	0	0
Total capitalization	(571,574)	(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	(2,000)	(12,000)
Accounts payable	0	0
Interest and preferred dividends payable	(9)	(11)
Taxes accrued	0	0
Regulatory liabilities	0	0
Other	(9,346)	(7,680)
Total current liabilities	(11,355)	(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	(582,929)	(576,704)
Hawaiian Electric (parent only) | Reportable Legal Entities
Utility property, plant and equipment
Land	44,030	43,972
Plant and equipment	4,404,946	4,140,892
Less accumulated depreciation	(1,513,351)	(1,451,612)
Construction in progress	154,566	231,571
Utility property, plant and equipment, net	3,090,191	2,964,823
Nonutility property, plant and equipment, less accumulated depreciation	5,933	5,933
Total property, plant and equipment, net	3,096,124	2,970,756
Investment in wholly owned subsidiaries, at equity	571,574	557,013
Current assets
Cash and cash equivalents	3,867	2,059	3,454	61,388
Advances to affiliates	2,000	0
Customer accounts receivable, net	124,792	86,987
Accrued unbilled revenues, net	94,956	77,176
Other accounts receivable, net	10,312	11,376
Fuel oil stock, at average cost	61,110	64,972
Materials and supplies, at average cost	32,407	28,325
Prepayments and other	44,458	17,928
Regulatory assets	75,541	76,203
Total current assets	449,443	365,026
Other long-term assets
Regulatory assets	527,650	557,464
Other	77,899	60,157
Total other long-term assets	605,549	617,621
Total assets	4,722,690	4,510,416
Capitalization
Common stock equity	1,876,237	1,845,283	1,829,075	1,799,787
Cumulative preferred stock—not subject to mandatory redemption	22,293	22,293
Long-term debt, net	1,000,020	924,979
Total capitalization	2,898,550	2,792,555
Current liabilities
Current portion of long-term debt	29,996	29,978
Short-term borrowings from non-affiliates	85,913	4,999
Short-term borrowings from affiliate	0	12,000
Accounts payable	90,937	121,328
Interest and preferred dividends payable	19,994	15,677
Taxes accrued	136,485	133,839
Regulatory liabilities	3,124	607
Other	64,697	43,121
Total current liabilities	431,146	361,549
Deferred credits and other liabilities
Deferred income taxes	285,789	281,223
Regulatory liabilities	649,761	613,329
Unamortized tax credits	61,299	59,039
Defined benefit pension and other postretirement benefit plans liability	332,743	340,983
Other	63,402	61,738
Total deferred credits and other liabilities	1,392,994	1,356,312
Total liabilities and shareholders’ equity	4,722,690	4,510,416
HELCO | Reportable Legal Entities
Utility property, plant and equipment
Land	5,873	6,189
Plant and equipment	1,227,530	1,206,776
Less accumulated depreciation	(541,451)	(528,024)
Construction in progress	11,060	8,182
Utility property, plant and equipment, net	703,012	693,123
Nonutility property, plant and equipment, less accumulated depreciation	115	115
Total property, plant and equipment, net	703,127	693,238
Investment in wholly owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	3,027	4,025	4,714	10,749
Advances to affiliates	0	0
Customer accounts receivable, net	29,364	22,510
Accrued unbilled revenues, net	15,810	15,940
Other accounts receivable, net	1,352	2,268
Fuel oil stock, at average cost	11,483	8,698
Materials and supplies, at average cost	7,840	8,041
Prepayments and other	8,604	4,514
Regulatory assets	6,217	5,038
Total current assets	83,697	71,034
Other long-term assets
Regulatory assets	115,114	122,783
Other	20,363	16,311
Total other long-term assets	135,477	139,094
Total assets	922,301	903,366
Capitalization
Common stock equity	294,220	286,647	294,319	291,291
Cumulative preferred stock—not subject to mandatory redemption	7,000	7,000
Long-term debt, net	217,724	202,701
Total capitalization	518,944	496,348
Current liabilities
Current portion of long-term debt	10,998	10,992
Short-term borrowings from non-affiliates	0	0
Short-term borrowings from affiliate	0	0
Accounts payable	12,289	17,855
Interest and preferred dividends payable	4,243	4,174
Taxes accrued	30,829	34,950
Regulatory liabilities	2,850	1,245
Other	9,594	9,818
Total current liabilities	70,803	79,034
Deferred credits and other liabilities
Deferred income taxes	56,417	56,955
Regulatory liabilities	174,739	169,139
Unamortized tax credits	16,271	16,167
Defined benefit pension and other postretirement benefit plans liability	64,026	66,447
Other	21,101	19,276
Total deferred credits and other liabilities	332,554	327,984
Total liabilities and shareholders’ equity	922,301	903,366
Maui Electric | Reportable Legal Entities
Utility property, plant and equipment
Land	3,612	3,016
Plant and equipment	1,087,570	1,053,372
Less accumulated depreciation	(512,906)	(496,716)
Construction in progress	27,460	23,341
Utility property, plant and equipment, net	605,736	583,013
Nonutility property, plant and equipment, less accumulated depreciation	1,532	1,532
Total property, plant and equipment, net	607,268	584,545
Investment in wholly owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	229	6,332	1,718	2,048
Advances to affiliates	0	12,000
Customer accounts receivable, net	24,629	18,392
Accrued unbilled revenues, net	16,936	13,938
Other accounts receivable, net	1,069	1,210
Fuel oil stock, at average cost	19,229	13,203
Materials and supplies, at average cost	18,260	18,031
Prepayments and other	7,670	2,913
Regulatory assets	7,672	7,149
Total current assets	95,694	93,168
Other long-term assets
Regulatory assets	98,730	100,660
Other	18,272	15,061
Total other long-term assets	117,002	115,721
Total assets	819,964	793,434
Capitalization
Common stock equity	277,253	270,265	265,251	259,554
Cumulative preferred stock—not subject to mandatory redemption	5,000	5,000
Long-term debt, net	200,887	190,836
Total capitalization	483,140	466,101
Current liabilities
Current portion of long-term debt	8,999	8,993
Short-term borrowings from non-affiliates	0	0
Short-term borrowings from affiliate	2,000	0
Accounts payable	19,706	20,427
Interest and preferred dividends payable	4,030	2,735
Taxes accrued	28,462	30,312
Regulatory liabilities	4,185	1,549
Other	16,109	14,197
Total current liabilities	83,491	78,213
Deferred credits and other liabilities
Deferred income taxes	58,863	55,863
Regulatory liabilities	97,693	94,901
Unamortized tax credits	15,503	15,163
Defined benefit pension and other postretirement benefit plans liability	63,510	65,518
Other	17,764	17,675
Total deferred credits and other liabilities	253,333	249,120
Total liabilities and shareholders’ equity	819,964	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	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	53,515	53,177
Plant and equipment	6,720,046	6,401,040
Less accumulated depreciation	(2,567,708)	(2,476,352)
Construction in progress	193,086	263,094
Utility property, plant and equipment, net	4,398,939	4,240,959
Nonutility property, plant and equipment, less accumulated depreciation	7,580	7,580
Total property, plant and equipment, net	4,406,519	4,248,539
Investment in wholly owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	7,224	12,517	9,987	74,286
Advances to affiliates	0	0
Customer accounts receivable, net	178,785	127,889
Accrued unbilled revenues, net	127,702	107,054
Other accounts receivable, net	3,378	7,163
Fuel oil stock, at average cost	91,822	86,873
Materials and supplies, at average cost	58,507	54,397
Prepayments and other	60,732	25,355
Regulatory assets	89,430	88,390
Total current assets	617,580	509,638
Other long-term assets
Regulatory assets	741,494	780,907
Other	116,534	91,529
Total other long-term assets	858,028	872,436
Total assets	5,882,127	5,630,613
Capitalization
Common stock equity	1,876,237	1,845,283	$ 1,829,075	$ 1,799,787
Cumulative preferred stock—not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,418,631	1,318,516
Total capitalization	3,329,161	3,198,092
Current liabilities
Current portion of long-term debt	49,993	49,963
Short-term borrowings from non-affiliates	85,913	4,999
Short-term borrowings from affiliate	0	0
Accounts payable	122,932	159,610
Interest and preferred dividends payable	28,258	22,575
Taxes accrued	195,776	199,101
Regulatory liabilities	10,159	3,401
Other	81,054	59,456
Total current liabilities	574,085	499,105
Deferred credits and other liabilities
Deferred income taxes	401,069	394,041
Regulatory liabilities	922,193	877,369
Unamortized tax credits	93,073	90,369
Defined benefit pension and other postretirement benefit plans liability	460,279	472,948
Other	102,267	98,689
Total deferred credits and other liabilities	1,978,881	1,933,416
Total liabilities and shareholders’ equity	$ 5,882,127	$ 5,630,613

Electric utility segment - Co_4

Electric utility segment - Condensed consolidating statement of changes in common stock equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Increase (decrease) in stockholders' equity
Beginning Balance			$ 2,097,386	$ 2,066,753
Net income for common stock	$ 65,900	$ 60,073	152,201	132,927
Other comprehensive income (loss), net of taxes	(4,589)	554	(21,187)	3,909
Common stock dividends			(101,235)	(101,149)
Ending Balance	2,132,045	2,103,022	2,132,045	2,103,022
Consolidating adjustments
Increase (decrease) in stockholders' equity
Beginning Balance			(557,013)	(550,946)
Net income for common stock	(16,636)	(12,767)	(35,041)	(29,306)
Other comprehensive income (loss), net of taxes	0	0	(1)	(1)
Common stock dividends			20,481	20,581
Common stock issuance expenses			0	1
Ending Balance	(571,574)	(559,671)	(571,574)	(559,671)
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	49,712	47,487	108,356	94,596
Other comprehensive income (loss), net of taxes	28	22	85	521
Common stock dividends			(77,479)	(65,825)
Common stock issuance expenses			(8)	(4)
Ending Balance	1,876,237	1,829,075	1,876,237	1,829,075
HELCO | Reportable Legal Entities
Increase (decrease) in stockholders' equity
Beginning Balance			286,647	291,291
Net income for common stock	9,175	6,434	19,039	14,650
Other comprehensive income (loss), net of taxes	0	0	1	1
Common stock dividends			(11,467)	(11,622)
Common stock issuance expenses			0	(1)
Ending Balance	294,220	294,319	294,220	294,319
Maui Electric | Reportable Legal Entities
Increase (decrease) in stockholders' equity
Beginning Balance			270,265	259,554
Net income for common stock	7,461	6,333	16,002	14,656
Other comprehensive income (loss), net of taxes	0	0	0	0
Common stock dividends			(9,014)	(8,959)
Common stock issuance expenses			0	0
Ending Balance	277,253	265,251	277,253	265,251
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	49,712	47,487	108,356	94,596
Other comprehensive income (loss), net of taxes	28	22	85	521
Common stock dividends			(77,479)	(65,825)
Common stock issuance expenses			(8)	(4)
Ending Balance	$ 1,876,237	$ 1,829,075	$ 1,876,237	$ 1,829,075

Electric utility segment - Co_5

Electric utility segment - Condensed consolidating statement of cash flows (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities
Net income	$ 66,371	$ 60,544	$ 153,618	$ 134,344
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment			159,646	150,123
Other amortization			31,473	15,362
Deferred income taxes			10,823	21,397
Allowance for equity funds used during construction	(1,962)	(3,482)	(8,239)	(8,908)
Other			(4,524)	(1,350)
Changes in assets and liabilities
Decrease (increase) in fuel oil stock			(5,060)	6,177
Increase in regulatory assets			(6,474)	3,922
Change in prepaid and accrued income taxes, tax credits and revenue taxes			(32,006)	2,828
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability			7,517	670
Net cash provided by operating activities			257,679	320,114
Cash flows from investing activities
Capital expenditures			(404,984)	(343,375)
Contributions in aid of construction			24,361	40,603
Other			13,669	1,345
Net cash used in investing activities			(541,761)	(469,330)
Cash flows from financing activities
Common stock dividends			(101,235)	(101,149)
Proceeds from issuance of long-term debt			100,000	265,000
Funds transferred for redemption of special purpose revenue bonds			(1,867)	(265,000)
Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less			85,369	24,498
Other			(5,668)	(9,531)
Net cash provided by financing activities			194,255	72,937
Net decrease in cash and cash equivalents			(89,827)	(76,279)
Cash and cash equivalents, beginning of period			261,881	278,452
Cash and cash equivalents, end of period	172,054	202,173	172,054	202,173
Consolidating adjustments
Cash flows from operating activities
Net income	(16,636)	(12,767)	(35,041)	(29,306)
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries			35,041	29,306
Common stock dividends received from subsidiaries			(20,481)	(20,581)
Depreciation of property, plant and equipment			0	0
Other amortization			0	0
Deferred income taxes			0	4,641
Allowance for equity funds used during construction	0	0	0	0
Other			0	0
Changes in assets and liabilities
Increase in accounts receivable			1,664	1,066
Decrease (increase) in accrued unbilled revenues			0	0
Decrease (increase) in fuel oil stock			0	0
Decrease (increase) in materials and supplies			0	0
Increase in regulatory assets			0	0
Increase (decrease) in accounts payable			0	0
Change in prepaid and accrued income taxes, tax credits and revenue taxes			(331)	(5,081)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability			0	0
Change in other assets and liabilities			(1,664)	(1,066)
Net cash provided by operating activities			(20,812)	(21,021)
Cash flows from investing activities
Capital expenditures			0	0
Contributions in aid of construction			0	0
Other			331	440
Advances (to) from affiliates			(10,000)	(2,900)
Net cash used in investing activities			(9,669)	(2,460)
Cash flows from financing activities
Common stock dividends			20,481	20,581
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
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			10,000	2,900
Other			0	0
Net cash provided by financing activities			30,481	23,481
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	49,982	47,757	109,166	95,406
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries			(35,116)	(29,381)
Common stock dividends received from subsidiaries			20,531	20,656
Depreciation of property, plant and equipment			103,112	98,167
Other amortization			15,159	2,168
Deferred income taxes			7,182	12,166
Allowance for equity funds used during construction	(1,648)	(3,108)	(7,123)	(7,823)
Other			(1,227)	216
Changes in assets and liabilities
Increase in accounts receivable			(41,566)	(6,114)
Decrease (increase) in accrued unbilled revenues			(17,780)	(14,823)
Decrease (increase) in fuel oil stock			3,862	6,779
Decrease (increase) in materials and supplies			(4,082)	1,063
Increase in regulatory assets			(1,704)	9,471
Increase (decrease) in accounts payable			(10,541)	7,010
Change in prepaid and accrued income taxes, tax credits and revenue taxes			(20,949)	10,920
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability			6,018	532
Change in other assets and liabilities			34,934	(2,709)
Net cash provided by operating activities			159,876	203,704
Cash flows from investing activities
Capital expenditures			(245,393)	(236,727)
Contributions in aid of construction			19,486	34,787
Other			4,518	6,089
Advances (to) from affiliates			(2,000)	0
Net cash used in investing activities			(223,389)	(195,851)
Cash flows from financing activities
Common stock dividends			(77,479)	(65,825)
Preferred stock dividends of Hawaiian Electric and subsidiaries			(810)	(810)
Proceeds from issuance of long-term debt			75,000
Proceeds from issuance of special purpose revenue bonds				162,000
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			68,914	3,100
Other			(304)	(2,252)
Net cash provided by financing activities			65,321	(65,787)
Net decrease in cash and cash equivalents			1,808	(57,934)
Cash and cash equivalents, beginning of period			2,059	61,388
Cash and cash equivalents, end of period	3,867	3,454	3,867	3,454
HELCO | Reportable Legal Entities
Cash flows from operating activities
Net income	9,308	6,567	19,439	15,050
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			30,165	29,056
Other amortization			3,992	1,718
Deferred income taxes			1,195	5,237
Allowance for equity funds used during construction	(39)	(167)	(274)	(416)
Other			(315)	566
Changes in assets and liabilities
Increase in accounts receivable			(6,738)	(1,127)
Decrease (increase) in accrued unbilled revenues			130	(1,581)
Decrease (increase) in fuel oil stock			(2,785)	195
Decrease (increase) in materials and supplies			201	(1,580)
Increase in regulatory assets			(2,245)	(2,935)
Increase (decrease) in accounts payable			234	(2,660)
Change in prepaid and accrued income taxes, tax credits and revenue taxes			(9,828)	(758)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability			(570)	39
Change in other assets and liabilities			2,602	1,059
Net cash provided by operating activities			35,203	41,863
Cash flows from investing activities
Capital expenditures			(43,417)	(36,700)
Contributions in aid of construction			2,960	3,460
Other			1,177	871
Advances (to) from affiliates			0	(3,100)
Net cash used in investing activities			(39,280)	(35,469)
Cash flows from financing activities
Common stock dividends			(11,467)	(11,622)
Preferred stock dividends of Hawaiian Electric and subsidiaries			(400)	(400)
Proceeds from issuance of long-term debt			15,000
Proceeds from issuance of special purpose revenue bonds				28,000
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			(54)	(407)
Net cash provided by financing activities			3,079	(12,429)
Net decrease in cash and cash equivalents			(998)	(6,035)
Cash and cash equivalents, beginning of period			4,025	10,749
Cash and cash equivalents, end of period	3,027	4,714	3,027	4,714
Maui Electric | Reportable Legal Entities
Cash flows from operating activities
Net income	7,556	6,428	16,288	14,942
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			18,533	17,355
Other amortization			672	2,232
Deferred income taxes			4,458	7,493
Allowance for equity funds used during construction	(275)	(207)	(842)	(669)
Other			(410)	(256)
Changes in assets and liabilities
Increase in accounts receivable			(6,499)	(1,912)
Decrease (increase) in accrued unbilled revenues			(2,998)	(1,610)
Decrease (increase) in fuel oil stock			(6,026)	(797)
Decrease (increase) in materials and supplies			(229)	(1,763)
Increase in regulatory assets			(2,525)	(2,614)
Increase (decrease) in accounts payable			1,595	1,780
Change in prepaid and accrued income taxes, tax credits and revenue taxes			(6,029)	210
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability			440	(118)
Change in other assets and liabilities			3,027	54
Net cash provided by operating activities			19,455	34,327
Cash flows from investing activities
Capital expenditures			(45,920)	(33,548)
Contributions in aid of construction			1,915	2,356
Other			3,785	714
Advances (to) from affiliates			12,000	6,000
Net cash used in investing activities			(28,220)	(24,478)
Cash flows from financing activities
Common stock dividends			(9,014)	(8,959)
Preferred stock dividends of Hawaiian Electric and subsidiaries			(286)	(286)
Proceeds from issuance of long-term debt			10,000
Proceeds from issuance of special purpose revenue bonds				75,000
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			2,000	0
Other			(38)	(934)
Net cash provided by financing activities			2,662	(10,179)
Net decrease in cash and cash equivalents			(6,103)	(330)
Cash and cash equivalents, beginning of period			6,332	2,048
Cash and cash equivalents, end of period	229	1,718	229	1,718
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
Decrease (increase) in fuel oil stock			0	0
Decrease (increase) in materials and supplies			0	0
Increase in regulatory assets			0	0
Increase (decrease) in accounts payable			0	0
Change in prepaid and accrued income taxes, tax credits and revenue taxes			0	0
Increase (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
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	50,210	47,985	109,852	96,092
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of subsidiaries			(75)	(75)
Common stock dividends received from subsidiaries			50	75
Depreciation of property, plant and equipment			151,810	144,578
Other amortization			19,823	6,118
Deferred income taxes			12,835	29,537
Allowance for equity funds used during construction	(1,962)	(3,482)	(8,239)	(8,908)
Other			(1,952)	526
Changes in assets and liabilities
Increase in accounts receivable			(53,139)	(8,087)
Decrease (increase) in accrued unbilled revenues			(20,648)	(18,014)
Decrease (increase) in fuel oil stock			(4,949)	6,177
Decrease (increase) in materials and supplies			(4,110)	(2,280)
Increase in regulatory assets			(6,474)	3,922
Increase (decrease) in accounts payable			(8,712)	6,130
Change in prepaid and accrued income taxes, tax credits and revenue taxes			(37,137)	5,291
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability			5,888	453
Change in other assets and liabilities			38,899	(2,662)
Net cash provided by operating activities			193,722	258,873
Cash flows from investing activities
Capital expenditures			(334,730)	(306,975)
Contributions in aid of construction			24,361	40,603
Other			9,811	8,114
Advances (to) from affiliates			0	0
Net cash used in investing activities			(300,558)	(258,258)
Cash flows from financing activities
Common stock dividends			(77,479)	(65,825)
Preferred stock dividends of Hawaiian Electric and subsidiaries			(1,496)	(1,496)
Proceeds from issuance of long-term debt			100,000	265,000
Proceeds from issuance of special purpose revenue bonds				265,000
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			80,914	6,000
Other			(396)	(3,593)
Net cash provided by financing activities			101,543	(64,914)
Net decrease in cash and cash equivalents			(5,293)	(64,299)
Cash and cash equivalents, beginning of period			12,517	74,286
Cash and cash equivalents, end of period	$ 7,224	$ 9,987	$ 7,224	$ 9,987

Bank segment - Income statemen

Bank segment - Income statement data (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Noninterest income
Noninterest income	$ 710,168		$ 1,907,220
Noninterest expense
Income before income taxes	77,233	$ 95,139	190,091	$ 206,347
Income taxes	10,862	34,595	36,473	72,003
Net income	66,371	60,544	153,618	134,344
American Savings Bank (ASB)
Interest and dividend income
Interest and fees on loans	55,885	52,210	163,318	155,269
Interest and dividends on investment securities	9,300	6,850	27,130	20,593
Total interest and dividend income	65,185	59,060	190,448	175,862
Interest expense
Interest on deposit liabilities	3,635	2,444	9,876	6,858
Interest on other borrowings	404	470	1,293	2,110
Total interest expense	4,039	2,914	11,169	8,968
Net interest income	61,146	56,146	179,279	166,894
Provision for loan losses	6,033	490	12,337	7,231
Net interest income after provision for loan losses	55,113	55,656	166,942	159,663
Noninterest income
Total noninterest income	15,311	15,229	42,571	46,612
Noninterest expense
Compensation and employee benefits	23,952	23,512	72,047	71,095
Occupancy	4,363	4,284	12,837	12,623
Data processing	3,583	3,262	10,587	9,749
Services	2,485	2,863	8,560	7,989
Equipment	1,783	1,814	5,385	5,333
Office supplies, printing and postage	1,556	1,444	4,554	4,506
Marketing	993	934	2,723	2,290
FDIC insurance	638	746	2,078	2,296
Other expense	4,240	5,262	12,897	14,674
Total noninterest expense	43,593	44,121	131,668	130,555
Income before income taxes	26,831	26,764	77,845	75,720
Income taxes	5,610	9,172	17,103	25,582
Net income	21,221	17,592	60,742	50,138
American Savings Bank (ASB) | Financial Services
Noninterest income
Noninterest income	4,543	5,635	13,941	17,055
American Savings Bank (ASB) | Deposit Liabilities
Noninterest income
Noninterest income	5,454	5,533	15,781	16,526
American Savings Bank (ASB) | Other Financial Products
Noninterest income
Noninterest income	1,746	1,904	5,075	5,741
American Savings Bank (ASB) | Bank-Owned Life Insurance
Noninterest income
Noninterest income	2,663	1,257	4,667	4,165
American Savings Bank (ASB) | Mortgage Banking
Noninterest income
Noninterest income	169	520	1,399	1,896
American Savings Bank (ASB) | Other income, net
Noninterest income
Noninterest income	$ 736	$ 380	$ 1,708	$ 1,229

Bank segment - Reconciliation o

Bank segment - Reconciliation of Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Condensed Income Statements, Captions [Line Items]
Total revenues	$ 768,048	$ 673,185	$ 2,099,199	$ 1,897,028
Less: Retirement defined benefits expense—other than service costs	(1,276)	(1,928)	(4,673)	(5,710)
Total expenses	669,984	561,712	1,850,447	1,638,015
Operating income	98,064	111,473	248,752	259,013
Income before income taxes	77,233	95,139	190,091	206,347
American Savings Bank (ASB)
Condensed Income Statements, Captions [Line Items]
Interest and dividend income	65,185	59,060	190,448	175,862
Total noninterest income	15,311	15,229	42,571	46,612
Total revenues	80,496	74,289	233,019	222,474
Total interest expense	4,039	2,914	11,169	8,968
Provision for loan losses	6,033	490	12,337	7,231
Noninterest expense	43,593	44,121	131,668	130,555
Less: Retirement defined benefits expense—other than service costs	433	212	1,223	608
Total expenses	53,232	47,313	153,951	146,146
Operating income	27,264	26,976	79,068	76,328
Income before income taxes	$ 26,831	$ 26,764	$ 77,845	$ 75,720

Bank segment - Comprehensive in

Bank segment - Comprehensive income data (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Condensed Statement of Income Captions [Line Items]
Net income for common stock	$ 65,900	$ 60,073	$ 152,201	$ 132,927
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 $1,876, $(137), $8,335 and $(1,619), respectively	(5,123)	208	(22,768)	2,452
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 $141, $138, $968 and $675, respectively	5,259	3,942	15,755	11,793
Other comprehensive income (loss), net of taxes	(4,589)	554	(21,187)	3,909
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	61,311	60,627	131,014	136,836
Net unrealized gains (losses) on securities arising during the period, (taxes) benefits	1,876	(137)	8,335	(1,619)
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, taxes (benefits)	(1,832)	(2,516)	(5,486)	(7,526)
American Savings Bank (ASB)
Condensed Statement of Income Captions [Line Items]
Net income for common stock	21,221	17,592	60,742	50,138
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 $1,876, $(137), $8,335 and $(1,619), respectively	(5,123)	208	(22,768)	2,452
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 $141, $138, $968 and $675, respectively	382	209	1,970	1,023
Other comprehensive income (loss), net of taxes	(4,741)	417	(20,798)	3,475
Comprehensive income attributable to Hawaiian Electric Industries, Inc.	16,480	18,009	39,944	53,613
Net unrealized gains (losses) on securities arising during the period, (taxes) benefits	1,876	(137)	8,335	(1,619)
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, taxes (benefits)	$ (141)	$ (138)	$ (968)	$ (675)

Bank segment - Balance sheet d

Bank segment - Balance sheet data (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Assets
Available-for-sale investment securities, at fair value	$ 1,387,571,000	$ 1,401,198,000
Held-to-maturity investment securities, at amortized cost	102,498,000	44,515,000
Stock in Federal Home Loan Bank, at cost	8,158,000	9,706,000
Allowance for loan losses	(54,127,000)	(53,637,000)
Net loans	4,700,232,000	4,617,131,000
Loans held for sale, at lower of cost or fair value	1,036,000	11,250,000
Other	596,481,000	513,535,000
Goodwill	82,190,000	82,190,000
Total assets	12,911,554,000	12,534,160,000
Liabilities
Other	545,862,000	521,018,000
Total liabilities	10,745,216,000	10,402,481,000
Commitments and contingencies
Retained earnings	527,802,000	476,836,000
Accumulated other comprehensive loss, net of tax benefits
Accumulated other comprehensive loss, net of tax benefits	(63,128,000)	(41,941,000)
Total shareholders’ equity	2,132,045,000	2,097,386,000	$ 2,103,022,000	$ 2,066,753,000
Total liabilities and shareholders’ equity	12,911,554,000	12,534,160,000
Other assets
Premises and equipment, net	4,694,101,000	4,460,248,000
Total Other Assets	596,481,000	513,535,000
Other liabilities
Total other liabilities	545,862,000	521,018,000
Balance Sheet related disclosures
Held-to-maturity investment securities	99,929,000	44,412,000
Securities sold under agreements to repurchase	71,000,000	141,000,000
American Savings Bank (ASB)
Assets
Cash and due from banks	119,453,000	140,934,000
Interest-bearing deposits	39,575,000	93,165,000
Available-for-sale investment securities, at fair value	1,387,571,000	1,401,198,000
Held-to-maturity investment securities, at amortized cost	102,498,000	44,515,000
Stock in Federal Home Loan Bank, at cost	8,158,000	9,706,000
Loans held for investment	4,754,359,000	4,670,768,000
Allowance for loan losses	(54,127,000)	(53,637,000)
Net loans	4,700,232,000	4,617,131,000
Loans held for sale, at lower of cost or fair value	1,036,000	11,250,000
Other	488,743,000	398,570,000
Goodwill	82,190,000	82,190,000
Total assets	6,929,456,000	6,798,659,000
Liabilities
Deposit liabilities—noninterest-bearing	1,789,351,000	1,760,233,000
Deposit liabilities—interest-bearing	4,341,064,000	4,130,364,000
Other borrowings	71,110,000	190,859,000
Other	115,401,000	110,356,000
Total liabilities	6,316,926,000	6,191,812,000
Commitments and contingencies
Common stock	1,000	1,000
Additional paid in capital	346,757,000	345,018,000
Retained earnings	317,519,000	292,957,000
Accumulated other comprehensive loss, net of tax benefits
Net unrealized losses on securities	(37,719,000)	(14,951,000)
Retirement benefit plans	(14,028,000)	(16,178,000)
Accumulated other comprehensive loss, net of tax benefits	(51,747,000)	(31,129,000)
Total shareholders’ equity	612,530,000	606,847,000
Total liabilities and shareholders’ equity	6,929,456,000	6,798,659,000
Other assets
Bank-owned life insurance	150,772,000	148,775,000
Premises and equipment, net	203,062,000	136,270,000
Prepaid expenses	5,477,000	3,961,000
Accrued interest receivable	19,818,000	18,724,000
Mortgage-servicing rights	8,426,000	8,639,000
Low-income housing equity investments	69,865,000	59,016,000
Real estate acquired in settlement of loans, net	438,000	133,000
Other	30,885,000	23,052,000
Total Other Assets	488,743,000	398,570,000
Other liabilities
Accrued expenses	56,830,000	39,312,000
Federal and state income taxes payable	1,287,000	3,736,000
Cashier’s checks	23,711,000	27,000,000
Advance payments by borrowers	4,998,000	10,245,000
Other	28,575,000	30,063,000
Total other liabilities	115,401,000	110,356,000
Balance Sheet related disclosures
Held-to-maturity investment securities	99,929,000	44,412,000
Securities sold under agreements to repurchase	71,000,000	141,000,000
Advances from Federal Home Loan Bank	$ 0	$ 50,000,000

Bank segment - Components of i

Bank segment - Components of investment securities (Details) $ in Thousands	Sep. 30, 2018USD ($)issue	Dec. 31, 2017USD ($)issue
Debt Securities, Available-for-sale [Abstract]
Amortized cost	$ 1,439,098	$ 1,421,622
Gross unrealized gains	362	1,231
Gross unrealized losses	(51,889)	(21,655)
Estimated fair value	$ 1,387,571	$ 1,401,198
Gross unrealized losses, Less than 12 months, Number of issues | issue	75	82
Gross unrealized losses, Less than 12 months, Fair value	$ 563,811	$ 736,772
Gross unrealized losses, Less than 12 months, Amount	$ (15,376)	$ (7,664)
Gross unrealized losses, 12 months or longer, Number of issues | issue	128	85
Gross unrealized losses, 12 months or longer, Fair value	$ 759,281	$ 522,208
Gross unrealized losses, 12 months or longer, Amount	(36,513)	(13,991)
Debt Securities, Held-to-maturity [Abstract]
Amortized cost	102,498	44,515
Gross unrealized gains	0	1
Gross unrealized losses	(2,569)	(104)
Held-to-maturity investment securities	$ 99,929	$ 44,412
Less Than 12 Months: Number Of Issues | issue	7	2
Less than 12 Months: Fair value	$ 99,929	$ 35,744
Less than 12 Months: Amount	$ (2,569)	$ (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	175,144	185,891
Gross unrealized gains	24	438
Gross unrealized losses	(4,754)	(2,031)
Estimated fair value	$ 170,414	$ 184,298
Gross unrealized losses, Less than 12 months, Number of issues | issue	11	15
Gross unrealized losses, Less than 12 months, Fair value	$ 67,258	$ 83,137
Gross unrealized losses, Less than 12 months, Amount	$ (1,339)	$ (825)
Gross unrealized losses, 12 months or longer, Number of issues | issue	17	8
Gross unrealized losses, 12 months or longer, Fair value	$ 93,132	$ 62,296
Gross unrealized losses, 12 months or longer, Amount	(3,415)	(1,206)
Mortgage-related securities- FNMA, FHLMC and GNMA
Debt Securities, Available-for-sale [Abstract]
Amortized cost	1,195,492	1,220,304
Gross unrealized gains	292	793
Gross unrealized losses	(47,094)	(19,624)
Estimated fair value	$ 1,148,690	$ 1,201,473
Gross unrealized losses, Less than 12 months, Number of issues | issue	59	67
Gross unrealized losses, Less than 12 months, Fair value	$ 473,714	$ 653,635
Gross unrealized losses, Less than 12 months, Amount	$ (13,996)	$ (6,839)
Gross unrealized losses, 12 months or longer, Number of issues | issue	111	77
Gross unrealized losses, 12 months or longer, Fair value	$ 666,149	$ 459,912
Gross unrealized losses, 12 months or longer, Amount	(33,098)	(12,785)
Debt Securities, Held-to-maturity [Abstract]
Amortized cost	102,498	44,515
Gross unrealized gains	0	1
Gross unrealized losses	(2,569)	(104)
Held-to-maturity investment securities	$ 99,929	$ 44,412
Less Than 12 Months: Number Of Issues | issue	7	2
Less than 12 Months: Fair value	$ 99,929	$ 35,744
Less than 12 Months: Amount	$ (2,569)	$ (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	49,378
Gross unrealized gains	46
Gross unrealized losses	(41)
Estimated fair value	$ 49,383
Gross unrealized losses, Less than 12 months, Number of issues | issue	5
Gross unrealized losses, Less than 12 months, Fair value	$ 22,839
Gross unrealized losses, Less than 12 months, Amount	$ (41)
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 bonds
Debt Securities, Available-for-sale [Abstract]
Amortized cost	19,084	15,427
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Estimated fair value	$ 19,084	$ 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	Sep. 30, 2018	Dec. 31, 2017
Available-for-sale Securities, Debt Maturities [Abstract]
Due in one year or less	$ 25,004
Due after one year through five years	108,364
Due after five years through ten years	82,720
Due after ten years	27,518
Total amortized cost	243,606
Mortgage-related securities-FNMA, FHLMC and GNMA	1,195,492
Amortized cost	1,439,098	$ 1,421,622
Held-to-Maturity, Debt Securities, Amortized Cost [Abstract]
Mortgage-related securities-FNMA, FHLMC and GNMA	102,498
Amortized cost	102,498	44,515
Available-for-sale Securities, Debt Securities, Fair Value [Abstract]
Due in one year or less	24,896
Due after one year through five years	106,774
Due after five years through ten years	80,439
Due after ten years	26,772
Total fair value	238,881
Mortgage-related securities-FNMA, FHLMC and GNMA	1,148,690
Total available-for-sale securities	1,387,571	1,401,198
Held-to-maturity Securities, Debt Securities, Fair Value [Abstract]
Mortgage-related securities-FNMA, FHLMC and GNMA	99,929
Total held-to-maturity securities	$ 99,929	$ 44,412

Bank segment - Available-for-sa

Bank segment - Available-for-sale securities, narrative (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 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	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	$ 4,754,672	$ 4,671,577
Less: Deferred fees and discounts	(313)	(809)
Allowance for loan losses	(54,127)	(53,637)
Net loans	$ 4,700,232	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	$ 3,933,371	3,903,185
Residential 1-4 family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	2,110,489	2,118,047
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	733,749	733,106
Home equity line of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	949,872	913,052
Residential land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	12,982	15,797
Commercial construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	112,838	108,273
Residential construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	13,441	14,910
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	574,243	544,828
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	$ 247,058	$ 223,564

Bank segment - Allowance for l

Bank segment - Allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	$ 52,803	$ 56,356	$ 53,637	$ 55,533
Charge-offs	(5,377)	(4,897)	(14,831)	(12,471)
Recoveries	668	1,098	2,984	2,754
Provision	6,033	490	12,337	7,231
Valuation allowance, balance at the end of the period	54,127	53,047	54,127	53,047
Ending balance: individually evaluated for impairment	2,890		2,890		$ 2,730
Ending balance: collectively evaluated for impairment	51,237		51,237		50,907
Financing Receivables:
Total financing receivables	4,754,672		4,754,672		4,671,577
Ending balance: individually evaluated for impairment	41,160		41,160		33,393
Ending balance: collectively evaluated for impairment	4,713,512		4,713,512		4,638,184
Residential 1-4 family
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	2,939	3,130	2,902	2,873
Charge-offs	0	(522)	(31)	(528)
Recoveries	5	33	73	91
Provision	(623)	347	(623)	552
Valuation allowance, balance at the end of the period	2,321	2,988	2,321	2,988
Ending balance: individually evaluated for impairment	1,020		1,020		1,248
Ending balance: collectively evaluated for impairment	1,301		1,301		1,654
Financing Receivables:
Total financing receivables	2,110,489		2,110,489		2,118,047
Ending balance: individually evaluated for impairment	17,703		17,703		18,284
Ending balance: collectively evaluated for impairment	2,092,786		2,092,786		2,099,763
Commercial real estate
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	15,298	18,840	15,796	16,004
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision	(1,033)	(2,800)	(1,531)	36
Valuation allowance, balance at the end of the period	14,265	16,040	14,265	16,040
Ending balance: individually evaluated for impairment	51		51		65
Ending balance: collectively evaluated for impairment	14,214		14,214		15,731
Financing Receivables:
Total financing receivables	733,749		733,749		733,106
Ending balance: individually evaluated for impairment	981		981		1,016
Ending balance: collectively evaluated for impairment	732,768		732,768		732,090
Home equity line of credit
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	7,334	5,527	7,522	5,039
Charge-offs	(80)	0	(224)	(14)
Recoveries	71	164	98	294
Provision	(347)	(36)	(418)	336
Valuation allowance, balance at the end of the period	6,978	5,655	6,978	5,655
Ending balance: individually evaluated for impairment	1,088		1,088		647
Ending balance: collectively evaluated for impairment	5,890		5,890		6,875
Financing Receivables:
Total financing receivables	949,872		949,872		913,052
Ending balance: individually evaluated for impairment	14,602		14,602		8,188
Ending balance: collectively evaluated for impairment	935,270		935,270		904,864
Residential land
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	642	1,264	896	1,738
Charge-offs	(1)	0	(18)	(92)
Recoveries	122	259	173	477
Provision	(296)	(141)	(584)	(741)
Valuation allowance, balance at the end of the period	467	1,382	467	1,382
Ending balance: individually evaluated for impairment	0		0		47
Ending balance: collectively evaluated for impairment	467		467		849
Financing Receivables:
Total financing receivables	12,982		12,982		15,797
Ending balance: individually evaluated for impairment	2,057		2,057		1,265
Ending balance: collectively evaluated for impairment	10,925		10,925		14,532
Commercial construction
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	4,616	4,706	4,671	6,449
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision	(356)	370	(411)	(1,373)
Valuation allowance, balance at the end of the period	4,260	5,076	4,260	5,076
Ending balance: individually evaluated for impairment	0		0		0
Ending balance: collectively evaluated for impairment	4,260		4,260		4,671
Financing Receivables:
Total financing receivables	112,838		112,838		108,273
Ending balance: individually evaluated for impairment	0		0		0
Ending balance: collectively evaluated for impairment	112,838		112,838		108,273
Residential construction
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	4	9	12	12
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision	0	2	(8)	(1)
Valuation allowance, balance at the end of the period	4	11	4	11
Ending balance: individually evaluated for impairment	0		0		0
Ending balance: collectively evaluated for impairment	4		4		12
Financing Receivables:
Total financing receivables	13,441		13,441		14,910
Ending balance: individually evaluated for impairment	0		0		0
Ending balance: collectively evaluated for impairment	13,441		13,441		14,910
Commercial loans
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	10,161	14,552	10,851	16,618
Charge-offs	(788)	(1,215)	(1,930)	(3,477)
Recoveries	105	326	1,555	922
Provision	1,255	(595)	257	(995)
Valuation allowance, balance at the end of the period	10,733	13,068	10,733	13,068
Ending balance: individually evaluated for impairment	728		728		694
Ending balance: collectively evaluated for impairment	10,005		10,005		10,157
Financing Receivables:
Total financing receivables	574,243		574,243		544,828
Ending balance: individually evaluated for impairment	5,727		5,727		4,574
Ending balance: collectively evaluated for impairment	568,516		568,516		540,254
Consumer loans
Allowance for loan losses:
Valuation allowance, balance at the beginning of the period	11,809	8,328	10,987	6,800
Charge-offs	(4,508)	(3,160)	(12,628)	(8,360)
Recoveries	365	316	1,085	970
Provision	7,433	3,343	15,655	9,417
Valuation allowance, balance at the end of the period	15,099	8,827	15,099	8,827
Ending balance: individually evaluated for impairment	3		3		29
Ending balance: collectively evaluated for impairment	15,096		15,096		10,958
Financing Receivables:
Total financing receivables	247,058		247,058		223,564
Ending balance: individually evaluated for impairment	90		90		66
Ending balance: collectively evaluated for impairment	246,968		246,968		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	Sep. 30, 2018	Dec. 31, 2017
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	$ 4,754,672	$ 4,671,577
Commercial real estate
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	733,749	733,106
Commercial real estate | Pass
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	651,524	630,877
Commercial real estate | Special mention
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	35,642	49,347
Commercial real estate | Substandard
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	46,583	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	112,838	108,273
Commercial construction | Pass
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	88,049	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	574,243	544,828
Commercial loans | Pass
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	523,335	492,942
Commercial loans | Special mention
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	18,512	27,997
Commercial loans | Substandard
Credit risk profile by internally assigned grade for loans
Loans and leases receivable before fees, gross	32,396	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 p_2

Bank segment - Credit risk profile - payment activity (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Credit risk profile based on payment activity for loans
Total past due	$ 24,647	$ 23,603
Current	4,730,025	4,647,974
Total financing receivables	4,754,672	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	9,107	7,237
60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	5,364	6,013
Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	10,176	10,353
Residential 1-4 family
Credit risk profile based on payment activity for loans
Total past due	8,386	8,318
Current	2,102,103	2,109,729
Total financing receivables	2,110,489	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	2,000	1,532
Residential 1-4 family | 60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	2,254	1,715
Residential 1-4 family | Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	4,132	5,071
Commercial real estate
Credit risk profile based on payment activity for loans
Total past due	0	0
Current	733,749	733,106
Total financing receivables	733,749	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	0	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	5,062	2,590
Current	944,810	910,462
Total financing receivables	949,872	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	1,375	425
Home equity line of credit | 60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	493	114
Home equity line of credit | Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	3,194	2,051
Residential land
Credit risk profile based on payment activity for loans
Total past due	418	648
Current	12,564	15,149
Total financing receivables	12,982	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	0	23
Residential land | 60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	0	0
Residential land | Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	418	625
Commercial construction
Credit risk profile based on payment activity for loans
Total past due	0	0
Current	112,838	108,273
Total financing receivables	112,838	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	13,441	14,910
Total financing receivables	13,441	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	1,933	4,580
Current	572,310	540,248
Total financing receivables	574,243	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	1,053	1,825
Commercial loans | 60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	417	2,025
Commercial loans | Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	463	730
Consumer loans
Credit risk profile based on payment activity for loans
Total past due	8,848	7,467
Current	238,210	216,097
Total financing receivables	247,058	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	4,679	3,432
Consumer loans | 60-89 days past due
Credit risk profile based on payment activity for loans
Total past due	2,200	2,159
Consumer loans | Greater than 90 days
Credit risk profile based on payment activity for loans
Total past due	$ 1,969	$ 1,876

Bank segment - Credit risk p_3

Bank segment - Credit risk profile - summary (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Credit risk profile based on nonaccrual loans
Nonaccrual loans	$ 27,917	$ 23,591
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	26,224	20,814
Residential 1-4 family
Credit risk profile based on nonaccrual loans
Nonaccrual loans	12,768	12,598
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	10,701	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	981	1,016
Home equity line of credit
Credit risk profile based on nonaccrual loans
Nonaccrual loans	7,191	4,466
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	11,131	6,584
Residential land
Credit risk profile based on nonaccrual loans
Nonaccrual loans	516	841
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	1,542	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	4,176	3,069
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	1,806	1,741
Consumer loans
Credit risk profile based on nonaccrual loans
Nonaccrual loans	3,266	2,617
Accruing loans 90 days or more past due	0	0
Total troubled debt restructuring loans not included above	$ 63	$ 66

Bank segment - Principal balan

Bank segment - Principal balance of impaired loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Recorded investment:
With no related allowance recorded	$ 17,085		$ 17,085		$ 14,072
With an allowance recorded	24,075		24,075		19,321
Recorded investment	41,160		41,160		33,393
Unpaid principal balance:
With no related allowance recorded	19,117		19,117		16,041
With an allowance recorded	24,363		24,363		19,574
Unpaid principal balance	43,480		43,480		35,615
Related Allowance	2,890		2,890		2,730
Average recorded investment:
With no related allowance recorded	16,895	$ 14,585	15,357	$ 15,700
With an allowance recorded	23,746	19,948	21,916	21,704
Average recorded investment	40,641	34,533	37,273	37,404
Interest income recognized:
With no related allowance recorded	274	204	473	482
With an allowance recorded	235	416	694	1,307
Interest income recognized	509	620	1,167	1,789
Residential 1-4 family
Recorded investment:
With no related allowance recorded	8,689		8,689		9,097
With an allowance recorded	9,014		9,014		9,187
Recorded investment	17,703		17,703		18,284
Unpaid principal balance:
With no related allowance recorded	9,200		9,200		9,644
With an allowance recorded	9,218		9,218		9,390
Unpaid principal balance	18,418		18,418		19,034
Related Allowance	1,020		1,020		1,248
Average recorded investment:
With no related allowance recorded	8,940	9,650	8,779	9,503
With an allowance recorded	8,820	9,788	8,909	9,963
Average recorded investment	17,760	19,438	17,688	19,466
Interest income recognized:
With no related allowance recorded	239	70	396	230
With an allowance recorded	84	97	274	333
Interest income recognized	323	167	670	563
Commercial real estate
Recorded investment:
With no related allowance recorded	0		0		0
With an allowance recorded	981		981		1,016
Recorded investment	981		981		1,016
Unpaid principal balance:
With no related allowance recorded	0		0		0
With an allowance recorded	981		981		1,016
Unpaid principal balance	981		981		1,016
Related Allowance	51		51		65
Average recorded investment:
With no related allowance recorded	0	0	0	121
With an allowance recorded	985	1,284	997	1,292
Average recorded investment	985	1,284	997	1,413
Interest income recognized:
With no related allowance recorded	0	0	0	11
With an allowance recorded	11	13	32	41
Interest income recognized	11	13	32	52
Home equity line of credit
Recorded investment:
With no related allowance recorded	2,359		2,359		1,496
With an allowance recorded	12,243		12,243		6,692
Recorded investment	14,602		14,602		8,188
Unpaid principal balance:
With no related allowance recorded	2,714		2,714		1,789
With an allowance recorded	12,327		12,327		6,736
Unpaid principal balance	15,041		15,041		8,525
Related Allowance	1,088		1,088		647
Average recorded investment:
With no related allowance recorded	2,234	1,918	2,103	2,108
With an allowance recorded	12,090	5,076	10,083	4,670
Average recorded investment	14,324	6,994	12,186	6,778
Interest income recognized:
With no related allowance recorded	23	32	35	97
With an allowance recorded	111	68	288	164
Interest income recognized	134	100	323	261
Residential land
Recorded investment:
With no related allowance recorded	2,057		2,057		1,143
With an allowance recorded	0		0		122
Recorded investment	2,057		2,057		1,265
Unpaid principal balance:
With no related allowance recorded	2,256		2,256		1,434
With an allowance recorded	0		0		122
Unpaid principal balance	2,256		2,256		1,556
Related Allowance	0		0		47
Average recorded investment:
With no related allowance recorded	1,773	1,209	1,358	1,080
With an allowance recorded	20	1,251	45	1,620
Average recorded investment	1,793	2,460	1,403	2,700
Interest income recognized:
With no related allowance recorded	6	73	16	107
With an allowance recorded	0	12	3	73
Interest income recognized	6	85	19	180
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	3,948		3,948		2,328
With an allowance recorded	1,779		1,779		2,246
Recorded investment	5,727		5,727		4,574
Unpaid principal balance:
With no related allowance recorded	4,915		4,915		3,166
With an allowance recorded	1,779		1,779		2,252
Unpaid principal balance	6,694		6,694		5,418
Related Allowance	728		728		694
Average recorded investment:
With no related allowance recorded	3,915	1,808	3,099	2,888
With an allowance recorded	1,774	2,482	1,824	4,104
Average recorded investment	5,689	4,290	4,923	6,992
Interest income recognized:
With no related allowance recorded	6	29	26	37
With an allowance recorded	28	225	94	694
Interest income recognized	34	254	120	731
Consumer loans
Recorded investment:
With no related allowance recorded	32		32		8
With an allowance recorded	58		58		58
Recorded investment	90		90		66
Unpaid principal balance:
With no related allowance recorded	32		32		8
With an allowance recorded	58		58		58
Unpaid principal balance	90		90		66
Related Allowance	3		3		$ 29
Average recorded investment:
With no related allowance recorded	33	0	18	0
With an allowance recorded	57	67	58	55
Average recorded investment	90	67	76	55
Interest income recognized:
With no related allowance recorded	0	0	0	0
With an allowance recorded	1	1	3	2
Interest income recognized	$ 1	$ 1	$ 3	$ 2

Bank segment - Troubled debt r

Bank segment - Troubled debt restructuring - narrative (Details) - Troubled debt restructurings real estate loans - USD ($)	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
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	$ 60,000	$ 0
Consumer mortgage loans collateralized by residential real estate property in foreclosure process	$ 5,000,000	$ 4,300,000

Bank segment - Loan modificati

Bank segment - Loan modifications (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018USD ($)contract	Sep. 30, 2017USD ($)contract	Sep. 30, 2018USD ($)contract	Sep. 30, 2017USD ($)contract	Dec. 31, 2017USD ($)
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			$ 26,224		$ 20,814
Residential 1-4 family
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			10,701		10,982
Commercial real estate
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			981		1,016
Home equity line of credit
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			11,131		6,584
Residential land
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			1,542		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			1,806		1,741
Consumer loans
Financing Receivable, Modifications [Line Items]
Post-modification outstanding recorded investment			$ 63		$ 66
Troubled debt restructurings real estate loans
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	28	18	76	38
Pre-modification outstanding recorded investment	$ 4,034	$ 1,275	$ 12,284	$ 3,072
Post-modification outstanding recorded investment	4,058	1,275	12,317	3,066
Net increase in allowance	$ 398	$ 222	$ 1,398	$ 387
Troubled debt restructurings real estate loans | Residential 1-4 family
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	3	2	4	7
Pre-modification outstanding recorded investment	$ 632	$ 83	$ 971	$ 955
Post-modification outstanding recorded investment	649	83	993	963
Net increase in allowance	$ 1	$ 0	$ 17	$ 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	16	15	55	28
Pre-modification outstanding recorded investment	$ 1,584	$ 862	$ 7,092	$ 1,386
Post-modification outstanding recorded investment	1,585	862	7,097	1,372
Net increase in allowance	$ 263	$ 184	$ 1,205	$ 277
Troubled debt restructurings real estate loans | Residential land
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	3	0	4	0
Pre-modification outstanding recorded investment	$ 1,562	$ 0	$ 1,671	$ 0
Post-modification outstanding recorded investment	1,568	0	1,677	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	6	1	13	2
Pre-modification outstanding recorded investment	$ 256	$ 330	$ 2,550	$ 672
Post-modification outstanding recorded investment	256	330	2,550	672
Net increase in allowance	$ 134	$ 38	$ 176	$ 38
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 debt_2

Bank segment - Troubled debt restructuring that subsequently defaulted (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)contract	Sep. 30, 2017USD ($)contract	Sep. 30, 2018USD ($)contract	Sep. 30, 2017USD ($)contract
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	0	2	1
Recorded investment | $	$ 0	$ 0	$ 372	$ 222
Residential 1-4 family
Financing Receivable, Modifications [Line Items]
Number of contracts | contract	0	0	0	1
Recorded investment | $	$ 0	$ 0	$ 0	$ 222
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	0	0	1	0
Recorded investment | $	$ 0	$ 0	$ 81	$ 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	0	0	1	0
Recorded investment | $	$ 0	$ 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		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)
Servicing Asset at Amortized Cost [Line Items]
Repurchase reserve					$ 100		$ 100
Mortgage service fees	$ 700	$ 800	$ 2,200	$ 2,300
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	8,426		8,426
Residential loan
Servicing Asset at Amortized Cost [Line Items]
Proceeds from sale of mortgage loans	31,900	39,800	109,300	119,700
Gain on sale of mortgage loans	200	500	1,400	1,900
Servicing contracts
Servicing Asset at Amortized Cost [Line Items]
Gross carrying amount					18,543	$ 17,511
Accumulated amortization					(10,117)	(8,872)
Valuation allowance	0	0	0	0	0	0	0
Net carrying amount					8,426	8,639	$ 9,070
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Servicing asset - beginning balance	8,509	9,181	8,639	9,373
Amount capitalized	305	394	1,032	1,192
Amortization	(388)	(505)	(1,245)	(1,495)
Other-than-temporary impairment	0	0	0	0
Servicing asset - ending balance	8,426	9,070	8,426	9,070
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					1,206,025	1,195,454
Prepayment rate:
25 basis points adverse rate change					(379)	(869)
50 basis points adverse rate change					(836)	(1,828)
Discount rate:
25 basis points adverse rate change					(134)	(111)
50 basis points adverse rate change					$ (265)	$ (220)
Servicing contracts | Note rate
Valuation Allowance [Roll Forward]
Weighted average measurement input					0.0398	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					0.070	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	Sep. 30, 2018	Dec. 31, 2017
Offsetting Liabilities [Line Items]
Gross amount of recognized liabilities	$ 71	$ 141
Gross amount offset in the Balance Sheet	0	0
Securities sold under agreements to repurchase	71	141
Commercial account holders
Offsetting Liabilities [Line Items]
Securities sold under agreements to repurchase	71	141
Securities sold under agreements to repurchase collateral, financial instruments	154	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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Not designated as a hedging instrument
Derivative instrument
Asset derivatives	$ 0		$ 0		$ 137
Liability derivatives	0		0		30
Net gains (losses) recognized in the Statement of Income	(186)	$ (209)	(107)	$ (239)
Interest rate lock commitments
Derivative instrument
Notional amount	0		0		13,669
Fair value	0		0		131
Interest rate lock commitments | Not designated as a hedging instrument
Derivative instrument
Asset derivatives	0		0		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	(248)	(119)	(131)	(414)
Forward commitments
Derivative instrument
Notional amount	0		0		14,465
Fair value	0		0		(24)
Forward commitments | Not designated as a hedging instrument
Derivative instrument
Asset derivatives	0		0		4
Liability derivatives	0		0		$ 28
Forward commitments | Not designated as a hedging instrument | Mortgage banking income
Derivative instrument
Net gains (losses) recognized in the Statement of Income	$ 62	$ (90)	$ 24	$ 175

Bank segment - Contingencies (

Bank segment - Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
American Savings Bank (ASB)
Loss Contingencies [Line Items]
Unfunded commitments to fund the company's LIHTC	$ 24.9	$ 15.8

Credit agreements and long-te_3

Credit agreements and long-term debt (Details)	1 Months Ended
	Jun. 30, 2018USD ($)	Oct. 04, 2018USD ($)	Sep. 30, 2018USD ($)Institution	May 30, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Disclosure [Abstract]
Number of financial institutions | Institution			8
Series 2018A | Subsequent Event
Credit agreement
Aggregate principal amount		$ 50,000,000
Fixed coupon interest rate		4.58%
Debt, face amount		$ 150,000,000
Series 2018B | Subsequent Event
Credit agreement
Aggregate principal amount		$ 100,000,000
Fixed coupon interest rate		4.72%
Short-term Borrowings with Bank of Tokyo-Mitsubishi | Subsequent Event
Credit agreement
Aggregate principal amount		$ 50,000,000
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, Inc. and Subsidiaries
Credit agreement
Revolving noncollateralized credit facility with a letter of credit sub-facility			200,000,000
Amount outstanding under facilities			0		$ 0
Unsecured Debt | Series 2018A
Credit agreement
Aggregate principal amount				$ 67,500,000
Fixed coupon interest rate				4.38%
Unsecured Debt | Series 2018B
Credit agreement
Aggregate principal amount				$ 17,500,000
Fixed coupon interest rate				4.53%
Unsecured Debt | Series 2018C
Credit agreement
Aggregate principal amount				$ 15,000,000
Fixed coupon interest rate				4.72%
Unsecured Debt | Hawaiian Electric Company, Inc. and Subsidiaries | Series 2018A
Credit agreement
Aggregate principal amount				$ 52,000,000
Unsecured Debt | Hawaiian Electric Company, Inc. and Subsidiaries | Series 2018B
Credit agreement
Aggregate principal amount				12,500,000
Unsecured Debt | Hawaiian Electric Company, Inc. and Subsidiaries | Series 2018C
Credit agreement
Aggregate principal amount				10,500,000
Unsecured Debt | Hawaii Electric Light Company, Inc. (HELCO) | Series 2018A
Credit agreement
Aggregate principal amount				9,000,000
Unsecured Debt | Hawaii Electric Light Company, Inc. (HELCO) | Series 2018B
Credit agreement
Aggregate principal amount				3,000,000
Unsecured Debt | Hawaii Electric Light Company, Inc. (HELCO) | Series 2018C
Credit agreement
Aggregate principal amount				3,000,000
Unsecured Debt | Maui Electric | Series 2018A
Credit agreement
Aggregate principal amount				6,500,000
Unsecured Debt | Maui Electric | Series 2018B
Credit agreement
Aggregate principal amount				2,000,000
Unsecured Debt | Maui Electric | Series 2018C
Credit agreement
Aggregate principal amount				$ 1,500,000
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%

Shareholders' equity - Accumula

Shareholders' equity - Accumulated other comprehensive income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 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)	$ (4,589)	$ 554	(21,187)	3,909
Ending Balance	2,132,045	2,103,022	2,132,045	2,103,022
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)			(21,187)	3,909
Ending Balance	(63,128)	(29,220)	(63,128)	(29,220)
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)			(22,768)	2,452
Ending Balance	(37,719)	(5,479)	(37,719)	(5,479)
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)			1,581	1,003
Ending Balance	(25,409)	(23,741)	(25,409)	(23,741)
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)	28	22	85	521
Ending Balance	1,876,237	1,829,075	1,876,237	1,829,075
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)			85	521
Ending Balance	(1,134)	199	(1,134)	199
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)			85	67
Ending Balance	$ (1,134)	$ 199	$ (1,134)	$ 199

Shareholders' equity - Reclassi

Shareholders' equity - Reclassification out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	$ 534	$ 346	$ 1,581	$ 1,457
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	28	22	85	521
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	5,259	3,942	15,755	11,793
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	4,753	3,618	14,259	10,857
Impact of D&Os of the PUC included in regulatory assets
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(4,725)	(3,596)	(14,174)	(10,790)
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	(4,725)	(3,596)	(14,174)	(10,790)
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	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
General payment period		30 days
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 710,168	$ 1,907,220
Total revenues	768,048	2,099,199
Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,575	37,177
Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	697,593	1,870,043
Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	222,196	586,002
Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	229,476	624,643
Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	242,457	649,454
Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,464	9,944
Utility fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	832	2,380
Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,743	34,797
Revenues from Other Sources
Disaggregation of Revenue [Line Items]
Total revenues	57,880	191,979
Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues	(13,572)	(13,465)
Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues	65,185	190,448
Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues	3,568	7,774
Other
Disaggregation of Revenue [Line Items]
Total revenues	2,699	7,222
Electric utility
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	698,425	1,872,423
Total revenues	687,409	1,865,962
Electric utility | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	832	2,380
Electric utility | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	697,593	1,870,043
Electric utility | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	222,196	586,002
Electric utility | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	229,476	624,643
Electric utility | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	242,457	649,454
Electric utility | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,464	9,944
Electric utility | Utility fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	832	2,380
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	(11,016)	(6,461)
Electric utility | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues	(13,572)	(13,465)
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	2,556	7,004
Bank
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,743	34,797
Total revenues	80,496	233,019
Bank | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	11,743	34,797
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	11,743	34,797
Bank | Revenues from Other Sources
Disaggregation of Revenue [Line Items]
Total revenues	68,753	198,222
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	65,185	190,448
Bank | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues	3,568	7,774
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	143	218
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	143	218
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	$ 143	$ 218

Retirement benefits (Details)

Retirement benefits (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 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			$ 43,000,000	$ 25,000,000
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			$ 4,800,000	5,100,000
Cash contributions by the employer to defined contribution plan			5,900,000	5,000,000
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			40,000,000	22,000,000
Defined contribution plan, expenses recognized			1,700,000	1,400,000
Cash contributions by the employer to defined contribution plan			1,700,000	1,400,000
Pension benefits
Defined benefit plans
Contributions made to defined benefit plans			38,000,000	50,000,000
Contributions expected to be paid in current year	38,000,000		38,000,000		67,000,000
Service cost	17,223,000	$ 16,271,000	51,764,000	48,635,000
Interest cost	19,340,000	20,304,000	58,033,000	60,881,000
Expected return on plan assets	(27,237,000)	(25,689,000)	(81,715,000)	(77,056,000)
Amortization of net prior service gain	(11,000)	(14,000)	(32,000)	(41,000)
Amortization of net actuarial loss	7,527,000	6,638,000	22,556,000	19,858,000
Net periodic pension/benefit cost (return)	16,842,000	17,510,000	50,606,000	52,277,000
Impact of PUC D&Os	7,785,000	(4,534,000)	17,621,000	(14,557,000)
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	24,627,000	12,976,000	68,227,000	37,720,000
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			37,000,000	49,000,000
Contributions expected to be paid in current year	37,000,000		37,000,000		$ 66,000,000
Service cost	16,840,000	15,764,000	50,520,000	47,294,000
Interest cost	17,824,000	18,659,000	53,471,000	55,974,000
Expected return on plan assets	(25,593,000)	(23,973,000)	(76,777,000)	(71,919,000)
Amortization of net prior service gain	2,000	2,000	6,000	6,000
Amortization of net actuarial loss	6,826,000	6,098,000	20,477,000	18,294,000
Net periodic pension/benefit cost (return)	15,899,000	16,550,000	47,697,000	49,649,000
Impact of PUC D&Os	7,785,000	(4,534,000)	17,621,000	(14,557,000)
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	23,684,000	12,016,000	65,318,000	35,092,000
Other benefits
Defined benefit plans
Service cost	680,000	843,000	2,041,000	2,530,000
Interest cost	1,986,000	2,363,000	5,947,000	7,089,000
Expected return on plan assets	(3,224,000)	(3,078,000)	(9,683,000)	(9,248,000)
Amortization of net prior service gain	(451,000)	(448,000)	(1,354,000)	(1,345,000)
Amortization of net actuarial loss	25,000	283,000	71,000	848,000
Net periodic pension/benefit cost (return)	(984,000)	(37,000)	(2,978,000)	(126,000)
Impact of PUC D&Os	953,000	346,000	3,048,000	1,019,000
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	(31,000)	309,000	70,000	893,000
Other benefits | Hawaiian Electric Company, Inc. and Subsidiaries
Defined benefit plans
Service cost	676,000	839,000	2,028,000	2,515,000
Interest cost	1,907,000	2,279,000	5,721,000	6,837,000
Expected return on plan assets	(3,178,000)	(3,037,000)	(9,534,000)	(9,110,000)
Amortization of net prior service gain	(451,000)	(451,000)	(1,353,000)	(1,353,000)
Amortization of net actuarial loss	25,000	275,000	74,000	826,000
Net periodic pension/benefit cost (return)	(1,021,000)	(95,000)	(3,064,000)	(285,000)
Impact of PUC D&Os	953,000	346,000	3,048,000	1,019,000
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	$ (68,000)	$ 251,000	$ (16,000)	$ 734,000

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($) $ in Millions	Mar. 01, 2014	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based compensation
Income tax benefit from compensation expense		$ 0.2	$ 0.4	$ 0.9	$ 1.5
Restricted stock units
Share-based compensation
Fair value of vested stock				2.7	3.4
Income tax benefit from compensation expense				0.4	1.1
Unrecognized share based compensation		4.8		$ 4.8
Weighted average period for recognition of unrecognized compensation cost (in years)				2 years 7 months 6 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		1.5		$ 1.5
Weighted average period for recognition of unrecognized compensation cost (in years)				1 year 9 months 18 days
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		$ 5.4		$ 5.4
Weighted average period for recognition of unrecognized compensation cost (in years)				1 year 9 months 18 days
Equity and Incentive Plan
Share-based compensation
Number of additional shares authorized (in shares)	1,500,000
Shares available for future issuance (in shares)		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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based compensation
Share-based compensation expense	$ 1.5	$ 1.1	$ 5.9	$ 4.4
Income tax benefit	0.2	0.4	0.9	1.5
Hawaiian Electric Company, Inc. and Subsidiaries
Share-based compensation
Share-based compensation expense	0.6	0.4	2.1	1.6
Income tax benefit	$ 0.1	$ 0.2	$ 0.4	$ 0.6

Share-based compensation - 2011

Share-based compensation - 2011 Director Plan (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based compensation
Income tax benefit from compensation expense	$ 0.2	$ 0.4	$ 0.9	$ 1.5
Common stock
Share-based compensation
Shares granted (in shares)	0	0	38,821	35,770
Fair value measurement of shares granted and vested	$ 0	$ 0	$ 1.3	$ 1.2
Income tax benefit from compensation expense	$ 0	$ 0	$ 0.3	$ 0.5

Share-based compensation - Su_2

Share-based compensation - Summary of changes in share based compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Restricted stock units
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	200,856	206,483	197,047	220,683
Granted (in shares)	1,789	0	93,853	97,873
Vested (in shares)	0	(687)	(75,683)	(89,681)
Forfeited (in shares)	(2,287)	0	(14,859)	(23,079)
Outstanding, end of period (in shares)	200,358	205,796	200,358	205,796
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 33.03	$ 31.50	$ 31.53	$ 29.57
Granted (in dollars per share)	35.61	0	34.12	33.47
Vested (in dollars per share)	0	24.48	30.56	28.84
Forfeited (in dollars per share)	32.83	0	32.35	31.50
Outstanding, end of period (in dollars per share)	$ 33.05	$ 31.53	$ 33.05	$ 31.53
Total weighted-average grant-date fair value	$ 0.1	$ 0	$ 3.2	$ 3.3
LTIP linked to TRS
Restricted stock awards and restricted stock units
Outstanding, beginning of period (in shares)	66,177	33,770	32,904	83,106
Granted (in shares)	878	0	37,819	37,204
Vested (in shares)	0	0	0	(83,106)
Forfeited (in shares)	(1,490)	0	(5,158)	(3,434)
Outstanding, end of period (in shares)	65,565	33,770	65,565	33,770
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 38.82	$ 39.51	$ 39.51	$ 22.95
Granted (in dollars per share)	38.20	0	38.21	39.51
Vested (in dollars per share)	0	0	0	22.95
Forfeited (in dollars per share)	38.85	0	38.84	39.51
Outstanding, end of period (in dollars per share)	$ 38.81	$ 39.51	$ 38.81	$ 39.51
Total weighted-average grant-date fair value	$ 0	$ 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)	264,707	135,078	131,616	109,816
Granted (in shares)	3,511	0	151,277	148,818
Vested (in shares)	0	0	0	(109,816)
Forfeited (in shares)	(5,958)	0	(20,633)	(13,740)
Outstanding, end of period (in shares)	262,260	135,078	262,260	135,078
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 33.79	$ 33.47	$ 33.47	$ 25.18
Granted (in dollars per share)	35.58	0	34.12	33.47
Vested (in dollars per share)	0	0	0	25.18
Forfeited (in dollars per share)	33.80	0	33.80	33.48
Outstanding, end of period (in dollars per share)	$ 33.82	$ 33.47	$ 33.82	$ 33.47
Total weighted-average grant-date fair value	$ 0.1	$ 0	$ 5.2	$ 5

Share-based compensation - Fair

Share-based compensation - Fair value assumptions (Details) - LTIP linked to TRS - $ / shares	9 Months Ended	12 Months Ended
	Sep. 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

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Tax Contingency [Line Items]
Effective income tax, percent		19.00%	35.00%
Bonus depreciation, net income tax benefit (expense)		$ 5.3
Regulatory liabilities	$ 11.3
Hawaiian Electric Company, Inc. and Subsidiaries
Income Tax Contingency [Line Items]
Effective income tax, percent		19.00%	36.00%

Cash flows (Details)

Cash flows (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Supplemental disclosures of cash flow information
Interest paid to non-affiliates	$ 67	$ 62
Income taxes paid (including refundable credits)	50	32
Supplemental disclosures of noncash activities
Estimated fair value of noncash contributions in aid of construction (investing)	6	3
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	42	35
Loans transferred from held for investment to held for sale (investing)	1	41
Common stock issued (gross) for director and executive/management compensation (financing)	4	11
Obligations to fund low income housing investments (investing)	12	10
Transfer of retail repurchase agreements to deposit liabilities (financing)	102	0
Hawaiian Electric Company, Inc. and Subsidiaries
Supplemental disclosures of cash flow information
Interest paid to non-affiliates	44	45
Income taxes paid (including refundable credits)	47	9
Supplemental disclosures of noncash activities
Estimated fair value of noncash contributions in aid of construction (investing)	6	3
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	$ 28	$ 32

Fair value measurements - Summa

Fair value measurements - Summary of financial assets and liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Financial assets
Available-for-sale investment securities	$ 1,387,571	$ 1,401,198
Held-to-maturity investment securities	99,929	44,412
Financial liabilities
Short-term borrowings—other than bank	203,359	117,945
Other bank borrowings	71,110	190,859
Carrying or notional amount
Financial assets
Available-for-sale investment securities	1,387,571	1,401,198
Held-to-maturity investment securities	102,498	44,515
Stock in Federal Home Loan Bank	8,158	9,706
Loans, net	4,701,268	4,628,381
Mortgage-servicing rights	8,426	8,639
Derivative assets		17,812
Financial liabilities
Deposit liabilities	805,117	5,890,597
Short-term borrowings—other than bank	203,359	117,945
Other bank borrowings	71,110	190,859
Long-term debt, net	1,782,242	1,683,797
Derivative liabilities	3,023	13,562
Carrying or notional amount | Hawaiian Electric Company, Inc. and Subsidiaries
Financial assets
Derivative assets		3,240
Financial liabilities
Long-term debt, net	1,468,624	1,368,479
Derivative liabilities	3,023
Short-term borrowings	85,913	4,999
Estimated fair value
Financial assets
Available-for-sale investment securities	1,387,571	1,401,198
Held-to-maturity investment securities	99,929	44,412
Stock in Federal Home Loan Bank	8,158	9,706
Loans, net	4,672,666	4,781,751
Mortgage-servicing rights	13,443	12,052
Derivative assets		393
Financial liabilities
Deposit liabilities	791,753	5,884,071
Short-term borrowings—other than bank	203,359	117,945
Other bank borrowings	71,107	190,829
Long-term debt, net	1,805,682	1,813,295
Derivative liabilities	27	30
Estimated fair value | Hawaiian Electric Company, Inc. and Subsidiaries
Financial assets
Derivative assets		256
Financial liabilities
Long-term debt, net	1,503,508	1,497,079
Derivative liabilities	27
Short-term borrowings	85,913	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
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	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	1,368,487	1,385,771
Held-to-maturity investment securities	99,929	44,412
Stock in Federal Home Loan Bank	8,158	9,706
Loans, net	1,031	11,254
Mortgage-servicing rights	0	0
Derivative assets		393
Financial liabilities
Deposit liabilities	791,753	5,884,071
Short-term borrowings—other than bank	203,359	117,945
Other bank borrowings	71,107	190,829
Long-term debt, net	1,805,682	1,813,295
Derivative liabilities	27	10
Estimated fair value | Level 2 | Hawaiian Electric Company, Inc. and Subsidiaries
Financial assets
Derivative assets		256
Financial liabilities
Long-term debt, net	1,503,508	1,497,079
Derivative liabilities	27
Short-term borrowings	85,913	4,999
Estimated fair value | Level 3
Financial assets
Available-for-sale investment securities	19,084	15,427
Held-to-maturity investment securities	0	0
Stock in Federal Home Loan Bank	0	0
Loans, net	4,671,635	4,770,497
Mortgage-servicing rights	13,443	12,052
Derivative assets		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	Sep. 30, 2018	Dec. 31, 2017
Derivative assets
Available-for-sale investment securities	$ 1,387,571	$ 1,401,198
Corporate bonds
Derivative assets
Available-for-sale investment securities	49,383
Mortgage revenue bonds
Derivative assets
Available-for-sale investment securities	19,084	15,427
Fair value measurements on a recurring basis | Level 1
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	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	0	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 bonds | Bank
Derivative assets
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Level 2
Derivative assets
Derivative assets	0	393
Derivative liabilities
Derivative liabilities	27	10
Fair value measurements on a recurring basis | Level 2 | Interest rate lock commitments
Derivative assets
Derivative assets	0	133
Derivative liabilities
Derivative liabilities	0	2
Fair value measurements on a recurring basis | Level 2 | Forward commitments
Derivative assets
Derivative assets	0	4
Derivative liabilities
Derivative liabilities	0	8
Fair value measurements on a recurring basis | Level 2 | Window forward contracts
Derivative assets
Derivative assets	0	256
Derivative liabilities
Derivative liabilities	27	0
Fair value measurements on a recurring basis | Level 2 | Bank
Derivative assets
Available-for-sale investment securities	1,368,487	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	1,148,690	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	170,414	184,298
Fair value measurements on a recurring basis | Level 2 | Corporate bonds | Bank
Derivative assets
Available-for-sale investment securities	49,383	0
Fair value measurements on a recurring basis | Level 2 | Mortgage revenue bonds | 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	19,084	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 bonds | Bank
Derivative assets
Available-for-sale investment securities	$ 19,084	$ 15,427

Fair value measurements - Addit

Fair value measurements - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)instrument	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)instrument	Sep. 30, 2017USD ($)
Measurement Input, Credit Spread
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Weighted average discount rate	0.0366		0.0366
Mortgage revenue bonds
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	3,657	0	3,657	0
Unrealized gain (loss) included in other comprehensive income	0	0	0	0
Ending balance	$ 19,084	$ 15,427	$ 19,084	$ 15,427
Mortgage revenue bonds | Bank
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Number of financial instruments held | instrument	2		2

Fair value measurements - Ass_2

Fair value measurements - Assets Measured on a Nonrecurring Basis (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Estimated fair value
Fair value measurements on a recurring basis
Loans, net	$ 4,672,666,000	$ 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	1,031,000	11,254,000
Estimated fair value | Level 3
Fair value measurements on a recurring basis
Loans, net	4,671,635,000	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	77,000	2,621,000
Fair value measurements on a nonrecurring basis | Estimated fair value
Fair value measurements on a recurring basis
Loans, net	$ 77,000	$ 2,621,000

Fair value measurements - Sum_2

Fair value measurements - Summary of Level 3 financial instruments (Details) - Level 3 - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Fair value measurements
Fair value	$ 77	$ 2,621
Fair value of collateral | Home equity line of credit
Fair value measurements
Fair value	$ 77
Appraised value, selling cost	7.00%
Fair value of collateral | Residential loan
Fair value measurements
Fair value		$ 613
Appraised value, selling cost		7.00%
Appraised value, weighted average rate		84.00%
Fair value of collateral | Residential loan | Minimum
Fair value measurements
Appraised value		71.00%
Fair value of collateral | Residential loan | Maximum
Fair value measurements
Appraised value		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%