Hawaiian Electric Company, Inc. PFD SER E 5% (HAWEL) 10-Q 9 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 25, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity Registrant Name	HAWAIIAN ELECTRIC INDUSTRIES, INC.
Entity File Number	1-8503
Entity Tax Identification Number	99-0208097
Entity Incorporation, State or Country Code	HI
Entity Address, Address Line One	1001 Bishop Street, Suite 2900
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	543-5662
Title of each class	Common Stock, Without Par Value
Trading Symbol(s)	HE
Name of each exchange on which registered	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		109,431,346
Entity Central Index Key	0000354707
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Hawaiian Electric Company, Inc. and Subsidiaries
Entity Information [Line Items]
Document Type	10-Q
Entity Registrant Name	HAWAIIAN ELECTRIC COMPANY, INC.
Entity File Number	1-4955
Entity Tax Identification Number	99-0040500
Entity Incorporation, State or Country Code	HI
Entity Address, Address Line One	1001 Bishop Street, Suite, 2500
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	543-7771
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		17,753,533
Entity Central Index Key	0000046207
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues
Revenues	$ 785,068	$ 642,946
Expenses
Total expenses	685,792	544,915
Operating income (loss)
Total operating income	99,276	98,031
Retirement defined benefits credit—other than service costs	1,243	2,435
Interest expense, net—other than on deposit liabilities and other bank borrowings	(24,349)	(23,736)
Allowance for borrowed funds used during construction	778	747
Allowance for equity funds used during construction	2,409	2,191
Gain on sales of investment securities, net and equity-method investment	8,123	528
Income before income taxes	87,480	80,196
Income taxes	17,840	15,365
Net income attributable to Hawaiian Electric	69,640	64,831
Preferred stock dividends of subsidiaries	473	473
Net income for common stock	$ 69,167	$ 64,358
Basic earnings per common share (in dollars per share)	$ 0.63	$ 0.59
Diluted earnings per common share (in dollars per share)	$ 0.63	$ 0.59
Weighted-average number of common shares outstanding (in shares)	109,361	109,221
Net effect of potentially dilutive shares (in shares)	273	271
Weighted-average shares assuming dilution (in shares)	109,634	109,492
Electric utility
Revenues
Revenues	$ 708,792	$ 564,864
Expenses
Total expenses	635,197	495,750
Operating income (loss)
Total operating income	73,595	69,114
Income before income taxes	59,446	55,090
Income taxes	12,538	11,233
Net income attributable to Hawaiian Electric	46,908	43,857
Preferred stock dividends of subsidiaries	499	499
Net income for common stock	46,409	43,358
Bank
Revenues
Revenues	75,115	77,131
Expenses
Total expenses	45,085	41,835
Operating income (loss)
Total operating income	30,030	35,296
Income before income taxes	30,215	37,102
Income taxes	6,345	7,546
Net income attributable to Hawaiian Electric	23,870	29,556
Preferred stock dividends of subsidiaries	0	0
Net income for common stock	23,870	29,556
Other
Revenues
Revenues	1,161	951
Expenses
Total expenses	5,510	7,330
Operating income (loss)
Total operating income	(4,349)	(6,379)
Income before income taxes	(2,181)	(11,996)
Income taxes	(1,043)	(3,414)
Net income attributable to Hawaiian Electric	(1,138)	(8,582)
Preferred stock dividends of subsidiaries	(26)	(26)
Net income for common stock	$ (1,112)	$ (8,556)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income for common stock	$ 69,167	$ 64,358
Net unrealized gains (losses) on available-for-sale investment securities:
Net unrealized losses on available-for-sale investment securities arising during the period, net of taxes of $(44,079) and $(16,616), respectively	(120,407)	(45,390)
Reclassification adjustment for net realized gains included in net income, net of taxes of $— and $(142), respectively	0	(387)
Derivatives qualifying as cash flow hedges:
Unrealized interest rate hedging gains arising during the period, net of taxes of $1,046 and $542, respectively	3,017	1,562
Reclassification adjustment for net realized losses included in net income, net of taxes of $19 and nil, respectively	55	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 taxes	4,501	6,010
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,325)	(5,811)
Other comprehensive loss, net of tax benefits	(117,159)	(44,016)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ (47,992)	$ 20,342

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net unrealized gains (losses) on available-for-sale investment securities:
Net unrealized gains (losses) on available-for-sale investment securities arising during the period, tax	$ (44,079)	$ (16,616)
Reclassification adjustment for net realized gains included in net income, tax	0	(142)
Derivatives qualifying as cash flow hedges:
Unrealized interest rate hedging arising during the period, tax	1,046	542
Reclassification adjustment for net unrealized losses included in net income, tax	19	0
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	1,562	2,084
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	$ (1,500)	$ (2,015)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 301,704	$ 305,551
Restricted cash	5,912	5,911
Accounts receivable and unbilled revenues, net	359,807	344,213
Available-for-sale investment securities, at fair value	2,621,375	2,574,618
Held-to-maturity investment securities, at amortized cost	517,150	522,270
Stock in Federal Home Loan Bank, at cost	10,000	10,000
Loans held for investment, net	5,117,522	5,139,984
Loans held for sale, at lower of cost or fair value	7,961	10,404
Property, plant and equipment, net of accumulated depreciation	5,411,746	5,392,068
Operating lease right-of-use assets	136,207	122,416
Regulatory assets	559,161	565,543
Other	777,694	747,469
Goodwill	82,190	82,190
Total assets	15,908,429	15,822,637
Liabilities
Accounts payable	240,296	205,544
Interest and dividends payable	33,519	19,889
Deposit liabilities	8,289,272	8,172,212
Short-term borrowings—other than bank	71,491	53,998
Other bank borrowings	137,385	88,305
Long-term debt, net—other than bank	2,316,046	2,321,937
Deferred income taxes	340,246	384,760
Operating lease liabilities	151,832	136,760
Regulatory liabilities	1,003,444	996,768
Defined benefit pension and other postretirement benefit plans liability	341,845	348,072
Other	645,118	669,215
Total liabilities	13,570,494	13,397,460
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293	34,293
Commitments and contingencies (Notes 3 and 4)
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: 109,431,346 shares and 109,311,785 shares at March 31, 2022 and December 31, 2021, respectively	1,684,547	1,685,496
Retained earnings	788,787	757,921
Accumulated other comprehensive loss, net of tax benefits	(169,692)	(52,533)
Total shareholders’ equity	2,303,642	2,390,884
Total liabilities and shareholders’ equity	$ 15,908,429	$ 15,822,637

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Property, plant and equipment, accumulated depreciation	$ 3,077,453	$ 3,028,130
Shareholders’ equity
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized shares (in shares)	10,000,000	10,000,000
Preferred stock, issued shares (in shares)	0	0
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, issued shares (in shares)	109,431,346	109,311,785
Common stock, outstanding shares (in shares)	109,431,346	109,311,785

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common stock	Retained earnings	Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Dec. 31, 2020		109,181,000
Beginning balance at Dec. 31, 2020	$ 2,337,502	$ 1,678,368	$ 660,398	$ (1,264)
Increase (decrease) in stockholders' equity
Net income for common stock	64,358		64,358
Other comprehensive (loss) income, net of taxes/benefits	(44,016)			(44,016)
Share-based expenses and other, net (in shares)		100,000
Share-based expenses and other, net	605	$ 605
Common stock dividends	(37,156)		(37,156)
Ending balance (in shares) at Mar. 31, 2021		109,281,000
Ending balance at Mar. 31, 2021	$ 2,321,293	$ 1,678,973	687,600	(45,280)
Beginning balance (in shares) at Dec. 31, 2021	109,311,785	109,312,000
Beginning balance at Dec. 31, 2021	$ 2,390,884	$ 1,685,496	757,921	(52,533)
Increase (decrease) in stockholders' equity
Net income for common stock	69,167		69,167
Other comprehensive (loss) income, net of taxes/benefits	(117,159)			(117,159)
Share-based expenses and other, net (in shares)		119,000
Share-based expenses and other, net	(949)	$ (949)
Common stock dividends	$ (38,301)		(38,301)
Ending balance (in shares) at Mar. 31, 2022	109,431,346	109,431,000
Ending balance at Mar. 31, 2022	$ 2,303,642	$ 1,684,547	$ 788,787	$ (169,692)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0.35	$ 0.34

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net income	$ 69,640	$ 64,831
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	62,990	61,427
Other amortization	9,425	10,951
Provision for credit losses	(3,263)	(8,435)
Loans originated, held for sale	(73,931)	(162,901)
Proceeds from sale of loans, held for sale	75,629	170,862
Gain on sales of investment securities, net and equity-method investment	(8,123)	(528)
Gain on sale of loans, net	(1,077)	(4,300)
Deferred income taxes	(5,255)	(2,196)
Share-based compensation expense	2,117	2,602
Allowance for equity funds used during construction	(2,409)	(2,191)
Other	(2,552)	(3,519)
Changes in assets and liabilities
Decrease in accounts receivable and unbilled revenues, net	4,454	5,664
Increase in fuel oil stock	(35,333)	(16,400)
Increase in regulatory assets	(5,089)	(14,869)
Increase (decrease) in regulatory liabilities	5,520	(4,716)
Increase in accounts, interest and dividends payable	71,490	7,677
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	(14,928)	(25,513)
Decrease in defined benefit pension and other postretirement benefit plans liability	(1,309)	(2,621)
Change in other assets and liabilities	(55,411)	(34,095)
Net cash provided by operating activities	92,585	41,730
Cash flows from investing activities
Available-for-sale investment securities purchased	(291,168)	(781,992)
Principal repayments on available-for-sale investment securities	104,654	184,755
Proceeds from sale of available-for-sale investment securities	0	197,354
Purchases of held-to-maturity investment securities	0	(88,262)
Proceeds from repayments or maturities of held-to-maturity investment securities	4,547	20,185
Purchase of stock from Federal Home Loan Bank	0	(22,296)
Redemption of stock from Federal Home Loan Bank	0	20,976
Net decrease in loans held for investment	28,076	23,922
Capital expenditures	(79,163)	(74,079)
Contributions to low income housing investments	0	(3,205)
Other	5,340	4,622
Net cash used in investing activities	(227,714)	(518,020)
Cash flows from financing activities
Net increase in deposit liabilities	117,060	358,337
Net increase in short-term borrowings with original maturities of three months or less	17,493	35,751
Net increase in other bank borrowings with original maturities of three months or less	49,080	13,015
Repayment of short-term debt	0	(65,000)
Proceeds from issuance of long-term debt	7,312	161,800
Repayment of long-term debt	(13,446)	(50,699)
Withheld shares for employee taxes on vested share-based compensation	(3,065)	(1,997)
Common stock dividends	(38,301)	(37,156)
Preferred stock dividends of subsidiaries	(473)	(473)
Other	(4,377)	(4,621)
Net cash provided by financing activities	131,283	408,957
Net decrease in cash, cash equivalents and restricted cash	(3,846)	(67,333)
Cash, cash equivalents and restricted cash, beginning of period	311,462	358,979
Cash, cash equivalents and restricted cash, end of period	307,616	291,646
Less: Restricted cash	(5,912)	(14,067)
Cash and cash equivalents, end of period	$ 301,704	$ 277,579

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Income (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues
Revenues	$ 785,068	$ 642,946
Expenses
Total expenses	685,792	544,915
Total operating income	99,276	98,031
Allowance for equity funds used during construction	2,409	2,191
Retirement defined benefits credit—other than service costs	1,243	2,435
Allowance for borrowed funds used during construction	778	747
Income before income taxes	87,480	80,196
Income taxes	17,840	15,365
Net income attributable to Hawaiian Electric	69,640	64,831
Preferred stock dividends of Hawaiian Electric	473	473
Net income for common stock	69,167	64,358
Hawaiian Electric Company, Inc. and Subsidiaries
Revenues
Revenues	708,792	564,864
Expenses
Fuel oil	221,286	127,427
Purchased power	163,533	142,296
Other operation and maintenance	125,257	114,570
Depreciation	58,471	57,355
Taxes, other than income taxes	66,650	54,102
Total expenses	635,197	495,750
Total operating income	73,595	69,114
Allowance for equity funds used during construction	2,409	2,191
Retirement defined benefits credit—other than service costs	990	1,021
Interest expense and other charges, net	(18,326)	(17,983)
Allowance for borrowed funds used during construction	778	747
Income before income taxes	59,446	55,090
Income taxes	12,538	11,233
Net income	46,908	43,857
Preferred stock dividends of subsidiaries	229	229
Net income attributable to Hawaiian Electric	46,679	43,628
Preferred stock dividends of Hawaiian Electric	270	270
Net income for common stock	$ 46,409	$ 43,358

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Comprehensive Income (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net income for common stock	$ 69,167	$ 64,358
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	4,501	6,010
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,325)	(5,811)
Other comprehensive loss, net of tax benefits	(117,159)	(44,016)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(47,992)	20,342
Hawaiian Electric Company, Inc. and Subsidiaries
Net income for common stock	46,409	43,358
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	4,376	5,845
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,325)	(5,811)
Other comprehensive loss, net of tax benefits	51	34
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ 46,460	$ 43,392

Condensed Consolidated Statem_9

Condensed Consolidated Statements of Comprehensive Income (unaudited) - HECO (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	$ 1,562	$ 2,084
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	(1,500)	(2,015)
Hawaiian Electric Company, Inc. and Subsidiaries
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, tax	1,518	2,027
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, tax	$ (1,500)	$ (2,015)

Condensed Consolidated Balanc_3

Condensed Consolidated Balance Sheets - HECO - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Utility property, plant and equipment
Total property, plant and equipment, net	$ 5,411,746	$ 5,392,068
Current assets
Cash and cash equivalents	301,704	305,551
Restricted cash	5,912	5,911
Other long-term assets
Operating lease right-of-use assets	136,207	122,416
Total assets	15,908,429	15,822,637
Capitalization
Retained earnings	788,787	757,921
Accumulated other comprehensive loss, net of tax benefits	(169,692)	(52,533)
Total shareholders’ equity	2,303,642	2,390,884
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Commitments and contingencies (Notes 3 and 4)
Current liabilities
Interest and dividends payable	33,519	19,889
Deferred credits and other liabilities
Deferred income taxes	340,246	384,760
Total liabilities and shareholders’ equity	15,908,429	15,822,637
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Land	52,057	51,937
Plant and equipment	7,796,069	7,735,983
Less accumulated depreciation	(2,985,762)	(2,940,517)
Construction in progress	212,748	204,569
Utility property, plant and equipment, net	5,075,112	5,051,972
Nonutility property, plant and equipment, less accumulated depreciation	6,948	6,949
Total property, plant and equipment, net	5,082,060	5,058,921
Current assets
Cash and cash equivalents	29,055	52,169
Restricted cash	2,140	3,089
Customer accounts receivable, net	181,400	186,859
Accrued unbilled revenues, net	140,005	129,155
Other accounts receivable, net	7,040	7,267
Fuel oil stock, at average cost	139,372	104,078
Materials and supplies, at average cost	72,706	71,877
Prepayments and other	41,415	46,031
Regulatory assets	78,875	66,664
Total current assets	692,008	667,189
Other long-term assets
Operating lease right-of-use assets	114,478	101,470
Regulatory assets	480,286	498,879
Other	166,344	165,166
Total other long-term assets	761,108	765,515
Total assets	6,535,176	6,491,625
Capitalization
Common stock ($6 2/3 par value, authorized 50,000,000 shares; outstanding 17,753,533 shares at March 31, 2022 and December 31, 2021)	118,376	118,376
Premium on capital stock	798,526	798,526
Retained earnings	1,363,211	1,348,277
Accumulated other comprehensive loss, net of tax benefits	(3,229)	(3,280)
Total shareholders’ equity	2,276,884	2,261,899
Cumulative preferred stock — not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,624,599	1,624,427
Total capitalization	3,935,776	3,920,619
Commitments and contingencies (Notes 3 and 4)
Current liabilities
Current portion of operating lease liabilities	39,958	49,368
Current portion of long-term debt	51,982	51,975
Short-term borrowings from non-affiliates	6,000	0
Accounts payable	168,189	160,007
Interest and dividends payable	28,154	17,325
Taxes accrued, including revenue taxes	181,324	208,280
Regulatory liabilities	29,928	29,760
Other	80,218	71,569
Total current liabilities	585,753	588,284
Deferred credits and other liabilities
Operating lease liabilities	88,689	65,780
Deferred income taxes	406,324	408,634
Regulatory liabilities	973,516	967,008
Unamortized tax credits	101,967	103,945
Defined benefit pension and other postretirement benefit plans liability	315,675	321,780
Other	127,476	115,575
Total deferred credits and other liabilities	2,013,647	1,982,722
Total liabilities and shareholders’ equity	$ 6,535,176	$ 6,491,625

Condensed Consolidated Balanc_4

Condensed Consolidated Balance Sheets - HECO (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Shareholders’ equity
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, outstanding shares (in shares)	109,431,346	109,311,785
Hawaiian Electric Company, Inc. and Subsidiaries
Utility property, plant and equipment
Nonutility property, plant and equipment, accumulated depreciation	$ 60	$ 59
Shareholders’ equity
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)	17,753,533	17,753,533

Condensed Consolidated State_10

Condensed Consolidated Statements of Changes in Shareholders' Equity (unaudited) - HECO - 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 (in shares) at Dec. 31, 2020			109,181,000	17,324,000
Beginning balance at Dec. 31, 2020	$ 2,337,502	$ 2,141,918	$ 1,678,368	$ 115,515	$ 746,987	$ 660,398	$ 1,282,335	$ (1,264)	$ (2,919)
Increase (decrease) in stockholders' equity
Net income for common stock	64,358	43,358				64,358	43,358
Other comprehensive (loss) income, net of taxes/benefits	(44,016)	34						(44,016)	34
Common stock dividends	(37,156)	(27,925)				(37,156)	(27,925)
Ending balance (in shares) at Mar. 31, 2021			109,281,000	17,324,000
Ending balance at Mar. 31, 2021	$ 2,321,293	2,157,385	$ 1,678,973	$ 115,515	746,987	687,600	1,297,768	(45,280)	(2,885)
Beginning balance (in shares) at Dec. 31, 2021	109,311,785		109,312,000	17,753,000
Beginning balance at Dec. 31, 2021	$ 2,390,884	2,261,899	$ 1,685,496	$ 118,376	798,526	757,921	1,348,277	(52,533)	(3,280)
Increase (decrease) in stockholders' equity
Net income for common stock	69,167	46,409				69,167	46,409
Other comprehensive (loss) income, net of taxes/benefits	(117,159)	51						(117,159)	51
Common stock dividends	$ (38,301)	(31,475)				(38,301)	(31,475)
Ending balance (in shares) at Mar. 31, 2022	109,431,346		109,431,000	17,753,000
Ending balance at Mar. 31, 2022	$ 2,303,642	$ 2,276,884	$ 1,684,547	$ 118,376	$ 798,526	$ 788,787	$ 1,363,211	$ (169,692)	$ (3,229)

Condensed Consolidated State_11

Condensed Consolidated Statements of Cash Flows (unaudited) - HECO - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	$ 62,990	$ 61,427
Other amortization	9,425	10,951
Deferred income taxes	(5,255)	(2,196)
Allowance for equity funds used during construction	(2,409)	(2,191)
Other	(2,552)	(3,519)
Changes in assets and liabilities
Increase in fuel oil stock	(35,333)	(16,400)
Increase in regulatory assets	(5,089)	(14,869)
Increase (decrease) in regulatory liabilities	5,520	(4,716)
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	(14,928)	(25,513)
Decrease in defined benefit pension and other postretirement benefit plans liability	(1,309)	(2,621)
Change in other assets and liabilities	(55,411)	(34,095)
Net cash provided by operating activities	92,585	41,730
Cash flows from investing activities
Capital expenditures	(79,163)	(74,079)
Other	5,340	4,622
Net cash used in investing activities	(227,714)	(518,020)
Cash flows from financing activities
Common stock dividends	(38,301)	(37,156)
Repayment of short-term debt	0	(65,000)
Proceeds from issuance of long-term debt	7,312	161,800
Net increase in other bank borrowings with original maturities of three months or less	49,080	13,015
Other	(4,377)	(4,621)
Net cash provided by financing activities	131,283	408,957
Net decrease in cash, cash equivalents and restricted cash	(3,846)	(67,333)
Cash, cash equivalents and restricted cash, beginning of period	311,462	358,979
Cash, cash equivalents and restricted cash, end of period	307,616	291,646
Less: Restricted cash	(5,912)	(14,067)
Cash and cash equivalents, end of period	301,704	277,579
Hawaiian Electric Company, Inc. and Subsidiaries
Cash flows from operating activities
Net income	46,908	43,857
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property, plant and equipment	58,471	57,355
Other amortization	6,355	6,577
Deferred income taxes	(6,021)	(4,671)
State refundable credit	(2,759)	(2,662)
Bad debt expense	1,619	457
Allowance for equity funds used during construction	(2,409)	(2,191)
Other	(2)	(1)
Changes in assets and liabilities
Decrease in accounts receivable	16,236	6,078
Increase in accrued unbilled revenues	(10,825)	(427)
Increase in fuel oil stock	(35,294)	(16,450)
Increase in materials and supplies	(829)	(2,382)
Increase in regulatory assets	(5,089)	(14,869)
Increase (decrease) in regulatory liabilities	5,520	(4,716)
Increase in accounts payable	29,624	6,254
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes	(16,080)	(24,802)
Decrease in defined benefit pension and other postretirement benefit plans liability	(1,206)	(1,434)
Change in other assets and liabilities	(7,444)	(14,012)
Net cash provided by operating activities	76,775	31,961
Cash flows from investing activities
Capital expenditures	(76,358)	(70,361)
Other	1,494	1,863
Net cash used in investing activities	(74,864)	(68,498)
Cash flows from financing activities
Common stock dividends	(31,475)	(27,925)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(499)	(499)
Repayment of short-term debt	0	(50,000)
Proceeds from issuance of long-term debt	0	115,000
Net increase in other bank borrowings with original maturities of three months or less	6,000	0
Other	0	(116)
Net cash provided by financing activities	(25,974)	36,460
Net decrease in cash, cash equivalents and restricted cash	(24,063)	(77)
Cash, cash equivalents and restricted cash, beginning of period	55,258	63,326
Cash, cash equivalents and restricted cash, end of period	31,195	63,249
Less: Restricted cash	(2,140)	(11,506)
Cash and cash equivalents, end of period	$ 29,055	$ 51,743

Basis of presentation

Basis of presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentationThe 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, 2021.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 March 31, 2022 and December 31, 2021 and the results of their operations and cash flows for the three months ended March 31, 2022 and 2021. 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. Credit Losses. In March 2022, Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2022-02, “Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which eliminates the accounting guidance for Troubled Debt Restructurings (TDRs) by creditors in Subtopic 310-40, Receivables-Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance in paragraphs 310-20-35-9 through 35-11 to determine whether a modification results in a new loan or a continuation of an existing loan. The amendments in this update also require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, “Financial Instruments-Credit Losses-Measured at Amortized Cost.” Gross write-off information must be included in the vintage disclosures required for public business entities in accordance with paragraph 325-20-50-6, which requires that an entity disclose the amortized cost basis of financing receivables by credit-quality indicator and class of financing receivable by year of origination. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. ASB is assessing the requirements of the ASU.

Segment financial information

Segment financial information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment financial information	Segment financial information (in thousands) Electric utility Bank Other Total Three months ended March 31, 2022 Revenues from external customers $ 708,788 $ 75,115 $ 1,165 $ 785,068 Intersegment revenues (eliminations) 4 — (4) — Revenues $ 708,792 $ 75,115 $ 1,161 $ 785,068 Income (loss) before income taxes $ 59,446 $ 30,215 $ (2,181) $ 87,480 Income taxes (benefit) 12,538 6,345 (1,043) 17,840 Net income (loss) 46,908 23,870 (1,138) 69,640 Preferred stock dividends of subsidiaries 499 — (26) 473 Net income (loss) for common stock $ 46,409 $ 23,870 $ (1,112) $ 69,167 Total assets (at March 31, 2022) $ 6,535,176 $ 9,252,325 $ 120,928 $ 15,908,429 Three months ended March 31, 2021 Revenues from external customers $ 564,855 $ 77,131 $ 960 $ 642,946 Intersegment revenues (eliminations) 9 — (9) — Revenues $ 564,864 $ 77,131 $ 951 $ 642,946 Income (loss) before income taxes $ 55,090 $ 37,102 $ (11,996) $ 80,196 Income taxes (benefit) 11,233 7,546 (3,414) 15,365 Net income (loss) 43,857 29,556 (8,582) 64,831 Preferred stock dividends of subsidiaries 499 — (26) 473 Net income (loss) for common stock $ 43,358 $ 29,556 $ (8,556) $ 64,358 Total assets (at December 31, 2021) $ 6,491,625 $ 9,181,603 $ 149,409 $ 15,822,637 Intercompany electricity sales of the Utilities to ASB 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. Hamakua Energy, LLC’s (Hamakua Energy’s) sales to Hawaii Electric Light (a regulated affiliate) are eliminated in consolidation.

Electric utility segment

Electric utility segment	3 Months Ended
	Mar. 31, 2022
Electric Utility Subsidiary [Abstract]
Electric utility segment	Electric utility segment Unconsolidated variable interest entities. Power purchase agreements . As of March 31, 2022, the Utilities had five PPAs for firm capacity (including the Puna Geothermal Venture (PGV) PPA that went offline in May 2018 due to lava flow on Hawaii Island, but returned to service with firm capacity of 13.0 MW in the first quarter of 2021, ramped up to 23.9 MW in the second quarter of 2021, and continued to provide capacity at the same level to date) 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 are 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 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 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 Hamakua Energy in its condensed consolidated financial statements. However, Hamakua Energy is an indirect subsidiary of Pacific Current and is consolidated in HEI’s condensed consolidated financial statements. 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 March 31 (in millions) 2022 2021 Kalaeloa $ 60 $ 37 AES Hawaii 27 30 HPOWER 19 17 Hamakua Energy 16 11 Puna Geothermal Venture 10 4 Wind IPPs 18 29 Solar IPPs 13 12 Other IPPs 1 1 2 Total IPPs $ 164 $ 142 1 Includes hydro power 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. In October 2021, Hawaiian Electric and Kalaeloa signed the Amended and Restated Power Purchase Agreement for Firm Dispatchable Capacity and Energy (Amended and Restated PPA) to extend the PPA for an additional term of 10 years. In November 2021, Hawaiian Electric submitted an application for approval of the Amended and Restated PPA to the PUC, which is pending approval before the PUC. The price of purchases from Kalaeloa in the first quarter of 2022 have increased 62% over the first quarter of 2021, primarily due to increased fuel oil cost. AES Hawaii, Inc. Under a PPA entered into in March 1988, as amended (through Amended and Restated Amendment No. 4) for a period of 30 years ending September 2022, Hawaiian Electric agreed to purchase 180 MW of firm capacity from AES Hawaii. Hawaiian Electric does not intend to extend the term of the PPA which will expire on September 1, 2022. Hu Honua Bioenergy, LLC (Hu Honua). In May 2012, Hawaii Electric Light signed a PPA, which the PUC approved in December 2013, with 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 and litigation delays, which resulted in an amended and restated PPA between Hawaii Electric Light and Hu Honua dated May 9, 2017. In July 2017, the PUC approved the amended and restated PPA, which becomes effective once the PUC’s order is final and non-appealable. In August 2017, the PUC’s approval was appealed by a third party. On May 10, 2019, the Hawaii Supreme Court issued a decision remanding the matter to the PUC for further proceedings consistent with the court’s decision, which must include express consideration of greenhouse gas (GHG) emissions that would result from approving the PPA, whether the cost of energy under the PPA is reasonable in light of the potential for GHG emissions, and whether the terms of the PPA are prudent and in the public interest, in light of its potential hidden and long-term consequences. As a result, the PUC reopened the docket for further proceedings, including re-examining all of the issues in the proceedings. On July 9, 2020, the PUC issued an order denying Hawaii Electric Light’s request to waive the amended and restated PPA from the PUC’s competitive bidding requirements and therefore, dismissed the request for approval of the amended and restated PPA without prejudice to possible participation in any future competitive bidding process. On September 9, 2020, the PUC denied Hu Honua’s motion for reconsideration of the PUC’s order. Hu Honua filed its notice of appeal to the Hawaii Supreme Court of the PUC’s order denying Hu Honua’s motion for reconsideration. On May 24, 2021, the Hawaii Supreme Court vacated the PUC’s decision and remanded the matter back to the PUC for further proceedings. On June 30, 2021, the PUC issued an order reopening the docket consistent with the Hawaii Supreme Court’s order. A contested case hearing was held in March 2022. The matter is currently with the PUC for decision making. Molokai New Energy Partners (MNEP). In July 2018, the PUC approved Maui Electric’s PPA with MNEP to purchase solar energy from a photovoltaic (PV) plus battery storage project. The 4.88 MW PV and 3 MW Battery Energy Storage System project was to deliver no more than 2.64 MW at any time to the Molokai system. On March 25, 2020, MNEP filed a complaint in the United Stated District Court for the District of Hawaii against Maui Electric claiming breach of contract. On June 3, 2020, Maui Electric provided Notice of Default and Termination of the PPA to MNEP terminating the PPA with an effective date of July 10, 2020. Thereafter, MNEP filed an amended Complaint to include claims relating to the termination and Hawaiian Electric filed its Answer to the Amended Complaint on September 11, 2020, disputing the facts presented by MNEP and all claims within the original and amended complaint. Currently, the discovery phase is ongoing. Fuels barging contract. On August 23, 2021, the Utilities entered into a five-year inter-island fuel transportation contract with Sause Bros., Inc. On December 23, 2021, the PUC issued an interim D&O approving the inter-island fuels transportation contract and recovery of associated costs on an interim basis. The interim decision is effective until the PUC issues its final D&O in the proceeding. The Utility recorded a lease liability of $32 million in connection with the contract, which commenced in January 2022 with an estimated annual base rent of $6.2 million. 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 or community support 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. The ERP/EAM Implementation Project went live in October 2018. Hawaii Electric Light and Hawaiian Electric began to incorporate their portion of the deferred project costs in rate base and started the amortization over a 12-year period in January 2020 and November 2020, respectively. The PUC required a minimum of $246 million ERP/EAM project-related benefit to be delivered to customers over the system’s 12-year service life. In February 2019, the PUC approved a methodology for passing the future cost saving benefits of the new ERP/EAM system to customers developed by the Utilities in collaboration with the Consumer Advocate. The Utilities filed a benefits clarification document on June 10, 2019, reflecting $150 million in future net O&M expense reductions and cost avoidance, and $96 million in capital cost reductions and tax savings over the 12-year service life. To the extent the reduction in O&M expense relates to amounts reflected in electric rates, the Utilities would reduce future rates for such amounts. In October 2019, the PUC approved the Utilities and the Consumer Advocate’s Stipulated Performance Metrics and Tracking Mechanism. As of March 31, 2022, the Utilities’ regulatory liability was $9.1 million ($5.1 million for Hawaiian Electric, $1.6 million for Hawaii Electric Light and $2.4 million for Maui Electric) for the O&M expense savings that are being amortized or to be included in future rates. As part of the settlement agreement approved in the Hawaiian Electric 2020 test year rate case, the regulatory liability for Hawaiian Electric will be amortized over five years, beginning in November 2020, and the O&M benefits for Hawaiian Electric was considered flowed through to customers. On July 7, 2021, the PUC issued an order modifying the reporting frequency of the Semi-Annual Enterprise System Benefits (SAESB) reports to an Annual Enterprise System Benefits (AESB) report on the achieved benefits savings. The most recent SAESB report was filed on February 14, 2022 for the period January 1 through December 31, 2021. 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 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 and left the property in 1987. The federal Environmental Protection Agency (EPA) has since identified environmental impacts in the subsurface soil at the Site. In cooperation with the Department of Health of State of Hawaii (DOH) and EPA, Maui Electric further investigated the Site and the adjacent parcel to determine the extent of impacts of polychlorinated biphenyls (PCBs), residual fuel oils and other subsurface contaminants. Maui Electric has a reserve balance of $2.7 million as of March 31, 2022, representing the probable and reasonably estimable undiscounted cost for remediation of the Site and the adjacent parcel based on presently available information; however, final costs of remediation will depend on the cleanup approach implemented. Additionally, on November 24, 2021, the current landowners of the Site, Misaki’s, Inc., filed a lawsuit against Hawaiian Electric (as alleged successor in interest to Molokai Electric, the prior owner of the Site) in the Circuit Court of the Second Circuit of the State of Hawaii (removed to the U.S. District Court for the District of Hawaii). The complaint which was subsequently amended to include Maui Electric, alleges that Hawaiian Electric is responsible for remediation of the Site based on the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA), and the Hawaii Environmental Response Law under Hawaii Revised Statutes Chapter 128D, as well as being liable on contractual claims related to a short leaseback period during the transition of ownership from Molokai Electric. At this time, the Utilities are unable to determine the ultimate outcome of the lawsuit or the amount of any possible loss. The Utilities intend to vigorously defend the action. 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 under CERCLA responsible for the costs of investigation and cleanup of PCB contamination in sediment in the area offshore of the Waiau Power Plant as part of the Pearl Harbor Superfund Site. Hawaiian Electric was also required by the EPA to assess potential sources and extent of PCB contamination onshore at Waiau Power Plant. As of March 31, 2022, the reserve account balance recorded by Hawaiian Electric to address the PCB contamination was $10.1 million. The reserve balance represents the probable and reasonably estimable undiscounted cost for the onshore and offshore investigation and remediation. The final remediation costs will depend on the actual onshore and offshore cleanup costs. Regulatory proceedings Decoupling . Decoupling is a regulatory model that is intended to provide the Utilities with financial stability and facilitate meeting the State of Hawaii’s goals to transition to a clean energy economy and achieve an aggressive renewable portfolio standard. Decoupling delinks the utility’s revenues from the utility’s sales, removing the disincentive to promote energy efficiency and accept more renewable energy. Decoupling continues under the PBR Framework. Performance-based regulation framework. On December 23, 2020, the PUC issued a D&O (PBR D&O) establishing a new PBR Framework to govern the Utilities. The PBR Framework incorporates an annual revenue adjustment (ARA) and a suite of new regulatory mechanisms in addition to previously established regulatory mechanisms. Under the PBR Framework, the decoupling mechanism (i.e., the Revenue Balancing Account (RBA)) established by the previous regulatory framework will continue. The existing cost recovery mechanisms will continue as currently implemented (i.e., the Energy Cost Recovery Clause (ECRC), Purchased Power Adjustment Clause (PPAC), Demand Side Management surcharge (DSM), Renewable Energy Infrastructure Program (REIP), Demand Response Adjustment Clause (DRAC), Pension and Other Post-Employment Benefits (OPEB) tracking mechanisms). In addition to annual revenues provided by the ARA, the Utilities may seek relief for extraordinary projects or programs through the Exceptional Project Recovery Mechanism (EPRM) (formerly known as the Major Project Interim Recovery adjustment mechanism) and earn financial rewards for exemplary performance as provided through a portfolio of Performance Incentive Mechanisms (PIMs) and Shared Savings Mechanisms (SSMs). The PBR Framework incorporates a variety of additional performance mechanisms, including Scorecards, Reported Metrics, and an expedited Pilot Process. The PBR Framework also contains a number of safeguards, including a symmetric Earnings Sharing Mechanism (ESM) which protects the Utilities and customers from excessive earnings or losses, as measured by the Utilities’ achieved rate-making ROACE and a Re-Opener mechanism, under which the PUC will open an examination, at its discretion, to determine if adjustments or modifications to specific PBR mechanisms are appropriate. The new PBR Framework became fully effective on June 1, 2021. On September 17, 2021, the PUC issued an order introducing the PUC staff’s proposal for the development of new PIMs to address the following areas of concern: • Grid reliability, • Timely retirement of fossil fuel generation units, • Interconnection of large-scale renewable energy projects, • Cost control for fossil fuel, purchased power, and other non-ARA costs, and • Expedient utilization of grid services from demand-side resources The order also established a procedural schedule, including technical conferences, statements of position, and a PUC hearing, to govern the PBR Working Group’s review and development of the new PIMs. On March 10, 2022, the PUC issued an order modifying the procedural schedule. In accordance with the modified procedural schedule, the PBR Parties filed final statements of position on April 8, 2022. The PUC hearing was held on April 26 to 27, 2022. Revenue adjustment mechanism . Prior to the implementation of the PBR Framework, the RAM was a major component of the previously established regulatory framework. The RAM was 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). All Utilities were limited to the RAM Cap in 2020. Under the PBR Framework, the ARA mechanism replaced the RAM, and became effective on June 1, 2021. RAM revenue adjustments approved by the PUC in 2020 will continue to be included in the RBA provision’s target revenue and RBA rate adjustment unless modified with PUC approval. Annual revenue adjustment mechanism . The PBR Framework established a five-year multi-year rate period during which there will be no general rate cases. Target revenues will be adjusted according to an index-driven ARA based on (i) an inflation factor, (ii) a predetermined X-factor to encompass productivity, which is set at zero, (iii) a Z-factor to account for exceptional circumstances not in the Utilities’ control and (iv) a customer dividend consisting of a negative adjustment of 0.22% of adjusted revenue requirements compounded annually and a flow through of the “pre-PBR” savings commitment from the management audit recommendations developed in a prior docket at a rate of $6.6 million per year from 2021 to 2025. The implementation of the ARA occurred on June 1, 2021. Earnings sharing mechanism . A symmetrical ESM for achieved rate-making ROACE outside of a 300 basis points dead band above or below the current authorized ROACE of 9.5% for each of the Utilities. There is a 50/50 sharing between customers and Utilities for the achieved rate-making ROACE falling within 150 basis points outside of the dead band in either direction, and a 90/10 sharing for any further difference. A reopening or review of the PBR terms will be triggered if the Utilities credit rating outlook indicates a potential credit downgrade below investment grade status, or if its achieved rate-making ROACE enters the outer most tier of the ESM. Exceptional project recovery mechanism . Prior to the implementation of the PBR Framework, the PUC established the Major Project Interim Recovery (MPIR) adjustment mechanism and MPIR Guidelines. The MPIR mechanism provides the opportunity to recover revenues for net costs of approved eligible projects placed in service between general rate cases. In establishing the PBR Framework, the MPIR Guidelines were terminated and replaced with the EPRM Guidelines. Although the MPIR Guidelines were terminated and replaced by the EPRM Guidelines, the MPIR mechanism will continue within the PBR Framework to provide recovery of project costs previously approved for recovery under the MPIR. The newly established EPRM Guidelines permit the Utilities to include the full amount of approved costs in the EPRM for recovery in the first year the project goes into service, pro-rated for the portion of the year the project is in service. Deferred and O&M expense projects are also eligible for EPRM recovery under the EPRM Guidelines. EPRM recoverable costs will be limited to the lesser of actual incurred project costs or PUC‑approved amounts, net of savings. As of March 31, 2022, the Utilities submitted 2022 MPIR amounts totaling $25.9 million, including revenue taxes, for the Schofield Generating Station ($16.5 million), West Loch PV Project ($3.3 million), and Grid Modernization Strategy (GMS) Phase 1 project ($6.1 million for all three utilities) for the accrual of revenues effective January 1, 2022, that included the 2022 return on project amount (based on approved amounts) in rate base, depreciation and incremental O&M expenses. Subject to PUC approval, the Utilities will begin recovery of the annualized 2022 MPIR amounts effective June 1, 2022 through the RBA rate adjustment. As of March 31, 2022, the PUC approved two EPRM projects totaling $41 million to the extent that the project costs are not included in rates. Currently, the Utilities are seeking EPRM recovery of five projects with total project costs of $264 million, subject to PUC approval. Pilot process . The PBR D&O approved a Pilot Process to foster innovation by establishing an expedited implementation process for pilots that test new technologies, programs, business models, and other arrangements. This is intended to support initiatives by the Utilities to test new programs and ideas quickly and elevate any successful pilots for consideration of full-scale implementation. The proposed pilots would be subject to PUC approval with a total annual cap of $10 million. The Pilot Process will feature the two primary activities: an initial “Workplan Development” phase, during which the Utilities identify and scope areas of interests, so as to inform the subsequent “Implementation” phase, during which the Utilities submit specific pilot proposals for expedited review by the PUC and implement the pilot upon approval. The PUC will issue an order, approving, denying, or modifying a proposed Pilot within 45 days of receiving notice of a specific pilot project. On July 9, 2021, the PUC issued an order approving the Utilities’ proposed Pilot Process submitted in April 2021 with modifications, including a cost recovery process that generally allows the Utilities to defer and recover total annual expenditures of approved pilot projects in full over twelve months beginning June 1 of the year following implementation through the RBA rate adjustment, although the Utilities may determine on a case-by-case basis that a particular project’s deferred costs should be amortized over a period greater than twelve months. On July 28, 2021, the Utilities submitted the finalized Pilot Process to govern the review of the pilot project proposals in accordance with the July 9, 2021 order. On November 12, 2021, the Utilities requested PUC approval of their proposed Pilot Process Workplan to guide the development of pilot projects over the next three years. A PUC order on the Workplan is pending. On February 28, 2022, the Utilities filed their first annual Pilot Update report covering pilot projects approved through the Pilot Process framework. The Pilot Update reported on approximately $0.1 million of 2021 deferred costs to be reviewed by the PUC in their review of the Utilities’ proposed adjustments to target revenue in the 2022 spring revenue report. Performance incentive mechanisms . The PUC has established the following PIMs: (1) Service Quality performance incentives, (2) Phase 1 Request for proposal (RFP) PIM for procurement of low-cost renewable energy, (3) Phase 2 RFP PIMs for generation and generation plus storage project, and Grid Services and standalone storage, (4) new PIMs established in the PBR D&O. • Service Quality performance incentives (ongoing). Service Quality performance incentives are measured on a calendar-year basis. 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 remain constant in interim periods, unless otherwise amended by order of the PUC. • 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 $6.8 million - for both indices in total for the three utilities). For the 2021 evaluation period, the Utilities earned $0.2 million in penalties. • 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 reward is 8 basis points applied to the common equity share of each respective utility’s approved rate base (or maximum penalties or rewards of approximately $1.4 million - in total for the three utilities). • Phase 1 RFP PIM. Procurement of low-cost variable renewable resources through the RFP process in 2018 is measured by comparison of the procurement price to target prices. Half of the incentive was earned upon PUC approval of the PPAs. Based on the seven PPAs approved in 2019, the Utilities recognized $1.7 million in 2019 with the remaining award to be recognized in the year following the in-service date of the projects, which is estimated to occur from 2023 to 2024. • Phase 2 RFP PIMs. The PUC order issued on October 9, 2019 establishes pricing thresholds, timelines to complete contracting, and other performance criteria for the performance incentive eligibility. The PIMs provide incentives only without penalties. On July 9, 2020, the Utilities filed two Grid Services Purchase Agreements (GSPA) for the Grid Service RFP that potentially qualify for a demand response PIM; however, details of the incentive metrics will be determined by the PUC. On September 15, 2020, the Utilities filed a PPA that qualified for a PIM incentive and on February 16, 2021, the Utilities filed one additional PPA that qualified for a declining PIM incentive. The PUC approved two PPAs in September 2021 and November 2021 and two GSPAs on December 31, 2020. For the 2021 evaluation period, the Utilities earned $0.1 million in rewards related to the two PPAs. • The PUC established the following two new PIMs in its PBR D&O, which were approved in an order issued on March 23, 2021 and became effective on June 1, 2021. • Renewable portfolio standard (RPS)-A PIM that provides a financial reward for accelerating the achievement of RPS goals. The Utilities may earn a reward for the amount of system generation above the interpolated statutory RPS goal at $20/MWh in 2021 and 2022, $15/MWh in 2023, and $10/MWh for the remainder of the multi-year rate period (MRP). Penalties are already prescribed in the RPS as $20/MWh for failing to meet RPS targets in 2030, 2040 and 2045. The evaluation period commenced on January 1, 2021. For the 2021 evaluation period, the Utilities earned $1.0 million in rewards. • Grid Services Procurement PIM that provides financial rewards for grid services acquired in 2021 and 2022. The Utilities can earn a total maximum reward of $1.5 million over 2021 and 2022. The evaluation period commenced on January 1, 2021. • The PUC also established the following three new PIMs in its PBR D&O, which were approved by the PUC on May 17, 2021 and became effective on June 1, 2021. • Interconnection Approval PIM that provides financial rewards and penalties for interconnection times for distributed energy resources systems <100 kW in size. The Utilities can earn a total annual maximum reward of $3.0 million or a total annual maximum penalty of $0.9 million. For the 2021 evaluation period, the Utilities earned $2.8 million in rewards. • Low-to-Moderate Income (LMI) Energy Efficiency PIM that provides financial reward for collaboration between the Utilities and the third-party Public Benefits Fee Administrator to deliver energy savings for low- and moderate-income customers. The Utilities can earn a total annual maximum reward of $2.0 million. The PIM will initially have a duration of three years and be subject to an annual review. The evaluation period is based on Hawaii Energy’s program year with the initial evaluation year being the period of July 1, 2021 through June 30, 2022. • Advanced Metering Infrastructure Utilization PIM that provides financial rewards for leveraging grid modernization investments and engaging customers beyond what is already planned in the Phase 1 Grid Modernization program. The Utilities can earn a total annual maximum reward of $2.0 million. The PIM will initially have a duration of three years after which it will be re-evaluated. The evaluation period commenced on January 1, 2021. For the 2021 evaluation period, the Utilities accrued $3.7 million ($2.8 million for Hawaiian Electric, $0.4 million for Hawaii Electric Light and $0.5 million for Maui Electric) in rewards net of penalties. The net rewards related to 2021 were reflected in the 2021 fall revenue report and 2022 spring revenue report filings. Annual review cycle . PBR D&O established an annual review cycle for revenue adjustments under the PBR Framework, including the biannual submission of the revenue reports. The Utilities filed the spring revenue report on March 31, 2022, which is subject to PUC approval. The net incremental amounts between the 2021 fall and 2022 spring revenue reports are proposed to be collected (refunded) from June 1, 2022 through May 31, 2023 as follows: (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Total Incremental accrued RBA balance through September 30, 2021 (and associated revenue taxes) $ (5.7) $ 2.1 $ (4.7) $ (8.3) Incremental Performance Incentive Mechanisms (net) 1.9 0.4 0.4 2.7 Incremental MPIR/EPRM Revenue Adjustment 1.3 0.8 0.7 2.8 Other (0.1) — — $ (0.1) Net incremental amount to be collected under the RBA rate tariffs $ (2.6) $ 3.3 $ (3.6) $ (2.9) Regulatory assets for COVID-19 related costs. On May 4, 2020, the PUC issued an order, authorizing all utilities, including the Utilities, to establish regulatory assets to record costs resulting from the suspension of disconnections of service during the pendency of the Governor’s Emergency Proclamation and until otherwise ordered by the PUC. In future proceedings, the PUC will consider the reasonableness of the costs, the appropriate period of recovery, any amount of carrying costs thereon, and any savings directly attributable to suspension of disconnects, and other related matters. As part of the order, the PUC prohibits the Utilities from charging late payment fees on past due payments. As the moratorium on customer disconnections ended on May 31, 2021, the Utilities have resumed charging late payment fees in July 2021. Pursuant to PUC orders, the deferral of COVID-19 related costs by the Utilities ended on December 31, 2020. On October 1, 2021, the PUC approved the Utilities’ request to extend the deferral period to December 31, 2021. In December 2021, to keep customers connected and provide some relief to customers experiencing financial difficulty during the pandemic, the Utilities committed to issuing $2 million in bill credits to qualified customers. The Utilities will not seek recovery for the issued bill credits, resulting in a reduction to the cumulative deferred costs. As of March 31, 2022, the Utilities had recorded a total of $27.8 million in regulatory assets pursuant to the orders. Condensed consolidating financial information. Condensed consolidating financial information for Hawaiian Electric and its subsidiaries are presented for the three month periods ended March 31, 2022 and 2021, and as of March 31, 2022 and December 31, 2021. Hawaiian Electric unconditionally guarantees Hawaii Electric Light’s and Maui Electric’s obligations (a) to the State of Hawaii for the repayment of principal and interest on Special Purpose Revenue Bonds issued for the benefit of Hawaii Electric Light and Maui Electric, and (b) under their respective private placement note agreements and the Hawaii Electric Light notes and Maui Electric notes issued thereunder. Hawaiian Elect

Bank segment

Bank segment	3 Months Ended
	Mar. 31, 2022
Bank Subsidiary [Abstract]
Bank segment	Bank segment Selected financial information American Savings Bank, F.S.B. Statements of Income and Comprehensive Income Data Three months ended March 31 (in thousands) 2022 2021 Interest and dividend income Interest and fees on loans $ 46,005 $ 49,947 Interest and dividends on investment securities 13,984 8,673 Total interest and dividend income 59,989 58,620 Interest expense Interest on deposit liabilities 947 1,462 Interest on other borrowings 5 27 Total interest expense 952 1,489 Net interest income 59,037 57,131 Provision for credit losses (3,263) (8,435) Net interest income after provision for credit losses 62,300 65,566 Noninterest income Fees from other financial services 5,587 5,073 Fee income on deposit liabilities 4,691 3,863 Fee income on other financial products 2,718 2,442 Bank-owned life insurance 681 2,561 Mortgage banking income 1,077 4,300 Gain on sale of real estate 1,002 — Gain on sale of investment securities, net — 528 Other income, net 372 272 Total noninterest income 16,128 19,039 Noninterest expense Compensation and employee benefits 27,215 28,037 Occupancy 5,952 4,969 Data processing 4,151 4,351 Services 2,439 2,862 Equipment 2,329 2,222 Office supplies, printing and postage 1,060 1,044 Marketing 1,018 648 FDIC insurance 808 816 Other expense 3,241 2,554 Total noninterest expense 48,213 47,503 Income before income taxes 30,215 37,102 Income taxes 6,345 7,546 Net income 23,870 29,556 Other comprehensive loss, net of tax benefits (122,441) (45,754) Comprehensive income (loss) $ (98,571) $ (16,198) Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended March 31 (in thousands) 2022 2021 Interest and dividend income $ 59,989 $ 58,620 Noninterest income 16,128 19,039 Less: Gain on sale of real estate 1,002 — Less: Gain on sale of investment securities, net — 528 *Revenues-Bank 75,115 77,131 Total interest expense 952 1,489 Provision for credit losses (3,263) (8,435) Noninterest expense 48,213 47,503 Less: Gain on sale of real estate 1,002 — Less: Retirement defined benefits credit—other than service costs (185) (1,278) *Expenses-Bank 45,085 41,835 *Operating income-Bank 30,030 35,296 Add back: Retirement defined benefits credit—other than service costs (185) (1,278) Add back: Gain on sale of investment securities, net — 528 Income before income taxes $ 30,215 $ 37,102 American Savings Bank, F.S.B. Balance Sheets Data (in thousands) March 31, 2022 December 31, 2021 Assets Cash and due from banks $ 114,249 $ 100,051 Interest-bearing deposits 155,279 151,189 Cash and cash equivalents 269,528 251,240 Investment securities Available-for-sale, at fair value 2,621,375 2,574,618 Held-to-maturity, at amortized cost (fair value of $466,236 and $510,474, respectively) 517,150 522,270 Stock in Federal Home Loan Bank, at cost 10,000 10,000 Loans held for investment 5,184,733 5,211,114 Allowance for credit losses (67,211) (71,130) Net loans 5,117,522 5,139,984 Loans held for sale, at lower of cost or fair value 7,961 10,404 Other 626,599 590,897 Goodwill 82,190 82,190 Total assets $ 9,252,325 $ 9,181,603 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 3,016,520 $ 2,976,632 Deposit liabilities—interest-bearing 5,272,752 5,195,580 Other borrowings 137,385 88,305 Other 210,681 193,268 Total liabilities 8,637,338 8,453,785 Common stock 1 1 Additional paid-in capital 354,635 353,895 Retained earnings 420,574 411,704 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (152,444) $ (32,037) Retirement benefit plans (7,779) (160,223) (5,745) (37,782) Total shareholder’s equity 614,987 727,818 Total liabilities and shareholder’s equity $ 9,252,325 $ 9,181,603 Other assets Bank-owned life insurance $ 176,301 $ 177,566 Premises and equipment, net 199,949 202,299 Accrued interest receivable 21,133 20,854 Mortgage-servicing rights 10,024 9,950 Low-income housing investments 107,791 110,989 Deferred tax asset 51,720 7,699 Other 59,681 61,540 $ 626,599 $ 590,897 Other liabilities Accrued expenses $ 104,958 $ 87,905 Federal and state income taxes payable 2,174 — Cashier’s checks 36,586 33,675 Advance payments by borrowers 5,664 9,994 Other 61,299 61,694 $ 210,681 $ 193,268 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 of $137.4 million and $88.3 million at March 31, 2022 and December 31, 2021, respectively. Investment securities. The major components of investment securities were as follows: Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair Amount Number of issues Fair Amount March 31, 2022 Available-for-sale U.S. Treasury and federal agency obligations $ 109,343 $ 75 $ (3,216) $ 106,202 16 $ 91,087 $ (3,216) — $ — $ — Mortgage-backed securities* 2,660,506 277 (204,029) 2,456,754 165 1,484,883 (97,460) 64 904,628 (106,569) Corporate bonds 44,481 101 (1,459) 43,123 3 34,014 (1,459) — — — Mortgage revenue bonds 15,296 — — 15,296 — — — — — — $ 2,829,626 $ 453 $ (208,704) $ 2,621,375 184 $ 1,609,984 $ (102,135) 64 $ 904,628 $ (106,569) Held-to-maturity U.S. Treasury and Federal agency obligations $ 59,877 $ — $ (3,831) $ 56,046 3 $ 56,046 $ (3,831) — $ — $ — Mortgage-backed securities* 457,273 76 (47,159) 410,190 23 246,986 (23,964) 13 158,370 (23,195) $ 517,150 $ 76 $ (50,990) $ 466,236 26 $ 303,032 $ (27,795) 13 $ 158,370 $ (23,195) December 31, 2021 Available-for-sale U.S. Treasury and federal agency obligations $ 89,714 $ 803 $ (427) $ 90,090 4 $ 44,827 $ (427) — $ — $ — Mortgage-backed securities* 2,482,618 6,511 (51,206) 2,437,923 120 1,845,243 (38,321) 18 271,012 (12,885) Corporate bonds 30,625 655 (102) 31,178 1 12,780 (102) — — — Mortgage revenue bonds 15,427 — — 15,427 — — — — — — $ 2,618,384 $ 7,969 $ (51,735) $ 2,574,618 125 $ 1,902,850 $ (38,850) 18 $ 271,012 $ (12,885) Held-to-maturity U.S. Treasury and Federal agency obligations $ 59,871 $ 168 $ (170) $ 59,869 2 $ 39,594 $ (170) — $ — $ — Mortgage-backed securities* 462,399 1,480 (13,274) 450,605 22 290,883 (7,665) 7 106,483 (5,609) $ 522,270 $ 1,648 $ (13,444) $ 510,474 24 $ 330,477 $ (7,835) 7 $ 106,483 $ (5,609) * Issued or guaranteed by U.S. Government agencies or sponsored agencies ASB does not believe that the investment securities that were in an unrealized loss position at March 31, 2022 and December 31, 2021, represent a credit loss. Total gross unrealized losses were primarily attributable to change in market conditions. On a quarterly basis the investment securities are evaluated for changes in financial condition of the issuer. Based upon ASB’s evaluation, all securities held within the investment portfolio continue to be investment grade by one or more agencies. The contractual cash flows of the U.S. Treasury, federal agency obligations and agency mortgage-backed securities are backed by the full faith and credit guaranty of the United States government or an agency of the government. ASB does not intend to sell the securities before the recovery of its amortized cost basis and there have been no adverse changes in the timing of the contractual cash flows for the securities. ASB’s investment securities portfolio did not require an allowance for credit losses at March 31, 2022 and December 31, 2021. U.S. Treasury, federal agency obligations, corporate bonds, and mortgage revenue bonds have contractual terms to maturity. Mortgage-backed 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: March 31, 2022 Amortized cost Fair value (in thousands) Available-for-sale Due in one year or less $ 15,821 $ 15,890 Due after one year through five years 81,524 79,931 Due after five years through ten years 71,775 68,800 Due after ten years — — 169,120 164,621 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 2,660,506 2,456,754 Total available-for-sale securities $ 2,829,626 $ 2,621,375 Held-to-maturity Due in one year or less $ — $ — Due after one year through five years — — Due after five years through ten years 59,877 56,046 Due after ten years — — 59,877 56,046 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 457,273 410,190 Total held-to-maturity securities $ 517,150 $ 466,236 The proceeds, gross gains and losses from sales of available-for-sale securities were as follows: Three months ended March 31 2022 2021 (in thousands) Proceeds $ — $ 197,354 Gross gains — 974 Gross losses — 446 Tax expense on realized gains — 142 The components of loans were summarized as follows: March 31, 2022 December 31, 2021 (in thousands) Real estate: Residential 1-4 family $ 2,279,671 $ 2,299,212 Commercial real estate 1,115,632 1,056,982 Home equity line of credit 845,271 835,663 Residential land 22,309 19,859 Commercial construction 90,332 91,080 Residential construction 15,508 11,138 Total real estate 4,368,723 4,313,934 Commercial 708,447 793,304 Consumer 116,090 113,966 Total loans 5,193,260 5,221,204 Less: Deferred fees and discounts (8,527) (10,090) Allowance for credit losses (67,211) (71,130) Total loans, net $ 5,117,522 $ 5,139,984 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 property purchases, the loan-to-value ratio may not exceed 75% of the lower of the appraised value or purchase price at origination. Allowance for credit losses. The allowance for credit losses (balances and changes) by portfolio segment were as follows: (in thousands) Residential Commercial real Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Total Three months ended March 31, 2022 Allowance for credit losses: Beginning balance $ 6,545 $ 24,696 $ 5,657 $ 646 $ 2,186 $ 18 $ 15,798 $ 15,584 $ 71,130 Charge-offs — — — — — — (76) (1,482) (1,558) Recoveries 8 — 11 5 — — 353 1,025 1,402 Provision 1,321 (4,520) (18) 46 154 13 (1,761) 1,002 (3,763) Ending balance $ 7,874 $ 20,176 $ 5,650 $ 697 $ 2,340 $ 31 $ 14,314 $ 16,129 $ 67,211 Three months ended March 31, 2021 Allowance for credit losses: Beginning balance $ 4,600 $ 35,607 $ 6,813 $ 609 $ 4,149 $ 11 $ 25,462 $ 23,950 $ 101,201 Charge-offs — — (50) — — — (771) (2,860) (3,681) Recoveries 3 — 15 10 — — 273 1,007 1,308 Provision 658 (1,262) (877) (46) (2,696) 5 (460) (2,357) (7,035) Ending balance $ 5,261 $ 34,345 $ 5,901 $ 573 $ 1,453 $ 16 $ 24,504 $ 19,740 $ 91,793 Allowance for loan commitments. The allowance for loan commitments by portfolio segment were as follows: (in thousands) Home equity Commercial construction Commercial loans Total Three months ended March 31, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 3,700 $ 800 $ 4,900 Provision — (100) 600 500 Ending balance $ 400 $ 3,600 $ 1,400 $ 5,400 Three months ended March 31, 2021 Allowance for loan commitments: Beginning balance $ 300 $ 3,000 $ 1,000 $ 4,300 Provision 100 (1,700) 200 (1,400) Ending balance $ 400 $ 1,300 $ 1,200 $ 2,900 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 ASB 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 vintage date based on payment activity or internally assigned grade for loans was as follows: Term Loans by Origination Year Revolving Loans (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Converted to term loans Total March 31, 2022 Residential 1-4 family Current $ 77,374 $ 779,764 $ 448,738 $ 125,136 $ 58,967 $ 781,055 $ — $ — $ 2,271,034 30-59 days past due — — — — — 1,920 — — 1,920 60-89 days past due — — — — — 2,414 — — 2,414 Greater than 89 days past due — — — — 809 3,494 — — 4,303 77,374 779,764 448,738 125,136 59,776 788,883 — — 2,279,671 Home equity line of credit Current — — — — — — 803,515 39,683 843,198 30-59 days past due — — — — — — 457 512 969 60-89 days past due — — — — — — 64 — 64 Greater than 89 days past due — — — — — — 745 295 1,040 — — — — — — 804,781 40,490 845,271 Residential land Current 2,703 10,550 6,725 958 530 446 — — 21,912 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — 397 — — 397 2,703 10,550 6,725 958 530 843 — — 22,309 Residential construction Current 2,423 10,493 2,336 — — 256 — — 15,508 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 2,423 10,493 2,336 — — 256 — — 15,508 Consumer Current 22,938 32,765 12,643 22,292 6,434 318 11,886 4,163 113,439 30-59 days past due 185 187 126 377 170 2 96 35 1,178 60-89 days past due — 56 115 278 97 4 23 48 621 Greater than 89 days past due — 43 55 253 200 9 111 181 852 23,123 33,051 12,939 23,200 6,901 333 12,116 4,427 116,090 Commercial real estate Pass 72,390 171,541 292,533 53,006 61,639 296,669 4,235 — 952,013 Special Mention — 19,600 3,508 41,925 14,250 43,372 — — 122,655 Substandard — — 678 11,238 1,847 27,201 — — 40,964 Doubtful — — — — — — — — — 72,390 191,141 296,719 106,169 77,736 367,242 4,235 — 1,115,632 Commercial construction Pass 119 22,614 32,846 — 11,341 — 23,412 — 90,332 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 119 22,614 32,846 — 11,341 — 23,412 — 90,332 Commercial Pass 8,521 234,161 83,927 75,241 46,058 89,119 89,919 14,951 641,897 Special Mention — 31 10,012 9,540 117 7,680 18,364 17 45,761 Substandard — 423 173 3,110 1,686 6,759 7,326 1,312 20,789 Doubtful — — — — — — — — — 8,521 234,615 94,112 87,891 47,861 103,558 115,609 16,280 708,447 Total loans $ 186,653 $ 1,282,228 $ 894,415 $ 343,354 $ 204,145 $ 1,261,115 $ 960,153 $ 61,197 $ 5,193,260 Term Loans by Origination Year Revolving Loans (in thousands) 2021 2020 2019 2018 2017 Prior Revolving Converted to term loans Total December 31, 2021 Residential 1-4 family Current $ 791,758 $ 461,683 $ 133,345 $ 64,421 $ 124,994 $ 712,452 $ — $ — $ 2,288,653 30-59 days past due — — — 809 — 2,210 — — 3,019 60-89 days past due — — — — — 1,468 — — 1,468 Greater than 89 days past due — — 2,987 — — 3,085 — — 6,072 791,758 461,683 136,332 65,230 124,994 719,215 — — 2,299,212 Home equity line of credit Current — — — — — — 794,518 39,116 833,634 30-59 days past due — — — — — — 296 313 609 60-89 days past due — — — — — — 16 70 86 Greater than 89 days past due — — — — — — 838 496 1,334 — — — — — — 795,668 39,995 835,663 Residential land Current 10,572 6,794 1,116 532 267 181 — — 19,462 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — 397 — — 397 10,572 6,794 1,116 532 267 578 — — 19,859 Residential construction Current 7,856 3,019 — — 263 — — — 11,138 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 7,856 3,019 — — 263 — — — 11,138 Consumer Current 37,563 15,488 29,383 10,897 302 238 12,740 4,157 110,768 30-59 days past due 202 181 517 234 15 — 156 70 1,375 60-89 days past due 59 127 392 183 8 — 7 106 882 Greater than 89 days past due 14 93 387 192 27 — 141 87 941 37,838 15,889 30,679 11,506 352 238 13,044 4,420 113,966 Commercial real estate Pass 173,794 275,242 49,317 56,490 33,581 259,583 11,602 — 859,609 Special Mention 19,600 3,529 42,935 30,870 20,788 32,824 — — 150,546 Substandard — 684 13,936 1,859 1,805 28,543 — — 46,827 Doubtful — — — — — — — — — 193,394 279,455 106,188 89,219 56,174 320,950 11,602 — 1,056,982 Commercial construction Pass 17,140 43,261 — 11,342 — — 19,337 — 91,080 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 17,140 43,261 — 11,342 — — 19,337 — 91,080 Commercial Pass 266,087 96,963 79,329 56,497 31,019 66,570 96,673 15,510 708,648 Special Mention 40 27,336 10,071 202 439 8,966 15,303 18 62,375 Substandard 427 184 3,737 1,777 4,457 2,961 7,083 1,655 22,281 Doubtful — — — — — — — — — 266,554 124,483 93,137 58,476 35,915 78,497 119,059 17,183 793,304 Total loans $ 1,325,112 $ 934,584 $ 367,452 $ 236,305 $ 217,965 $ 1,119,478 $ 958,710 $ 61,598 $ 5,221,204 Revolving loans converted to term loans during the three months ended March 31, 2022 in the commercial, home equity line of credit and consumer portfolios were $0.5 million, $4.4 million and $1.0 million, respectively. Revolving loans converted to term loans during the three months ended March 31, 2021 in the commercial, home equity line of credit and consumer portfolios were $0.5 million, $6.2 million and $0.7 million, respectively. The credit risk profile based on payment activity for loans was as follows: (in thousands) 30-59 60-89 Total Current Total Amortized cost> March 31, 2022 Real estate: Residential 1-4 family $ 1,920 $ 2,414 $ 4,303 $ 8,637 $ 2,271,034 $ 2,279,671 $ — Commercial real estate — — — — 1,115,632 1,115,632 — Home equity line of credit 969 64 1,040 2,073 843,198 845,271 — Residential land — — 397 397 21,912 22,309 — Commercial construction — — — — 90,332 90,332 — Residential construction — — — — 15,508 15,508 — Commercial 200 139 40 379 708,068 708,447 — Consumer 1,178 621 852 2,651 113,439 116,090 — Total loans $ 4,267 $ 3,238 $ 6,632 $ 14,137 $ 5,179,123 $ 5,193,260 $ — December 31, 2021 Real estate: Residential 1-4 family $ 3,019 $ 1,468 $ 6,072 $ 10,559 $ 2,288,653 $ 2,299,212 $ — Commercial real estate — — — — 1,056,982 1,056,982 — Home equity line of credit 609 86 1,334 2,029 833,634 835,663 — Residential land — — 397 397 19,462 19,859 — Commercial construction — — — — 91,080 91,080 — Residential construction — — — — 11,138 11,138 — Commercial 700 313 48 1,061 792,243 793,304 — Consumer 1,375 882 941 3,198 110,768 113,966 — Total loans $ 5,703 $ 2,749 $ 8,792 $ 17,244 $ 5,203,960 $ 5,221,204 $ — The credit risk profile based on nonaccrual loans were as follows: (in thousands) March 31, 2022 December 31, 2021 With a Related ACL Without a Related ACL Total With a Related ACL Without a Related ACL Total Real estate: Residential 1-4 family $ 12,583 $ 3,909 $ 16,492 $ 16,045 $ 3,703 $ 19,748 Commercial real estate — 12,530 12,530 14,104 1,221 15,325 Home equity line of credit 3,371 1,054 4,425 4,227 1,294 5,521 Residential land — 397 397 97 300 397 Commercial construction — — — — — — Residential construction — — — — — — Commercial 1,307 562 1,869 1,446 692 2,138 Consumer 1,555 — 1,555 1,845 — 1,845 Total $ 18,816 $ 18,452 $ 37,268 $ 37,764 $ 7,210 $ 44,974 The credit risk profile based on loans whose terms have been modified and accruing interest were as follows: (in thousands) March 31, 2022 December 31, 2021 Real estate: Residential 1-4 family $ 7,296 $ 6,949 Commercial real estate 2,888 3,055 Home equity line of credit 5,437 6,021 Residential land 976 980 Commercial construction — — Residential construction — — Commercial 7,079 7,860 Consumer 52 52 Total troubled debt restructured loans accruing interest $ 23,728 $ 24,917 ASB did not recognize interest on nonaccrual loans for the three months ended March 31, 2022 and 2021. 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. The allowance for credit losses on TDR loans that do not share risk characteristics are individually evaluated based on the present value of expected future cash flows discounted at the loan’s effective original contractual rate or based on the fair value of collateral less cost to sell. The financial impact of the estimated loss 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 credit losses. There were no loan modifications that occurred during the three months ended March 31, 2022. Loan modifications that occurred during the three months ended March 31, 2021 were as follows: Three months ended March 31, 2021 (dollars in thousands) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 12 $ 8,283 $ 298 Commercial real estate 1 482 — Home equity line of credit 1 170 21 Residential land 1 271 11 Commercial construction — — — Residential construction — — — Commercial 2 59 19 Consumer — — — 17 $ 9,265 $ 349 1 The period end balances reflect all paydowns and charge-offs since the modification period. TDRs fully paid off, charged-off, or foreclosed upon by period end are not included. There were no loans modified in TDRs that experienced a payment default of 90 days or more during the first three months of 2022 and 2021. If a loan modified in a TDR subsequently defaults, 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 nil at March 31, 2022 and December 31, 2021. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides that a financial institution may elect to suspend the requirements under GAAP for certain loan modifications that would otherwise be categorized as a TDR and any related impairment for accounting purposes. In response to the COVID-19 pandemic, the Board of Governors of the FRB, the FDIC, the National Credit Union Administration, the OCC, and the Consumer Financial Protection Bureau, in consultation with the state financial regulators (collectively, the “agencies”) issued a joint interagency statement (issued March 22, 2020; revised statement issued April 7, 2020). Some of the provisions applicable to the Company include, but are not limited to accounting for loan modifications, past due reporting and nonaccrual status and charge-offs. Loan modifications that do not meet the conditions of the CARES Act may still qualify as a modification that does not need to be accounted for as a TDR. The agencies confirmed with the FASB staff that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or insignificant delays in payment. Financial institutions are not expected to designate loans with deferrals granted due to COVID-19 as past due because of the deferral. A loan’s payment date is governed by the due date stipulated in the legal agreement. If a financial institution agrees to a payment deferral, these loans would not be considered past due during the period of the deferral. Lastly, during short-term COVID-19 modifications, these loans generally should not be reported as nonaccrual or as classified. Collateral-dependent loans. A loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the operation or sale of the collateral. Loans considered collateral-dependent were as follows: Amortized cost (in thousands) March 31, 2022 December 31, 2021 Collateral type Real estate: Residential 1-4 family $ 4,500 $ 3,493 Residential real estate property Commercial real estate 1,200 1,221 Commercial real estate property Home equity line of credit 1,034 1,294 Residential real estate property Residential land 397 300 Residential real estate property Total real estate 7,131 6,308 Commercial 562 692 Business assets Total $ 7,693 $ 7,000 ASB had $4.0 million and $3.4 million of mortgage loans collateralized by residential real estate property that were in the process of foreclosure at March 31, 2022 and December 31, 2021, 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 $75.6 million and $170.9 million for the three months ended March 31, 2022 and 2021, respectively, and recognized gains on such sales of $1.1 million and $4.3 million for the three months ended March 31, 2022 and 2021, respectively. There were no repurchased mortgage loans for the three months ended March 31, 2022 and 2021. Mortgage servicing fees, a component of other income, net, were $0.9 million for both the three months ended March 31, 2022 and 2021. Changes in the carrying value of MSRs were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net March 31, 2022 $ 19,137 $ (9,113) $ — $ 10,024 December 31, 2021 18,674 (8,724) — 9,950 Changes related to MSRs were as follows: Three months ended March 31 (in thousands) 2022 2021 Mortgage servicing rights Beginning balance $ 9,950 $ 10,280 Amount capitalized 719 1,547 Amortization (645) (1,138) Other-than-temporary impairment — — Carrying amount before valuation allowance 10,024 10,689 Valuation allowance for mortgage servicing rights Beginning balance — 260 Provision — (256) Other-than-temporary impairment — — Ending balance — 4 Net carrying value of mortgage servicing rights $ 10,024 $ 10,685 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 condensed 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) March 31, 2022 December 31, 2021 Unpaid principal balance $ 1,488,591 $ 1,481,899 Weighted average note rate 3.34 % 3.38 % Weighted average discount rate 9.25 % 9.25 % Weighted average prepayment speed 7.06 % 9.77 % 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) March 31, 2022 December 31, 2021 Prepayment rate: 25 basis points adverse rate change $ (360) $ (714) 50 basis points adverse rate change (809) (1,608) Discount rate: 25 basis points adverse rate change (160) (129) 50 basis points adverse rate change (318) (256) 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. As of March 31, 2022 and December 31, 2021, ASB had no FHLB advances outstanding or federal funds purchased with the Federal Reserve Bank. ASB was in compliance with all Advances, Pledge and Security Agreement requirements as of March 31, 2022. 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 Gross amount Net amount of Repurchase agreements March 31, 2022 $ 137 $ — $ 137 December 31, 2021 88 — 88 Gross amount not offset in the Balance Sheets (in millions) Net amount of liabilities presented Financial Cash Commercial account holders March 31, 2022 $ 137 $ 161 $ — December 31, 2021 88 161 — The securities underlying the agreements to repurchase are book-entry securities and were delivered by appropriate entry into the counterparties’ accounts or into segregated tri-party custodial accounts at the FHLB. The securities underlying the agreements to repurchase continue to be reflected in ASB’s asset accounts. Derivative financial instruments. ASB enters into interest rate lock commitments (IRLCs) with borrowers, and forward commitments to sell loans or to-be-announced mortgage-backed securities to investors to hedge against the inherent interest rate and pricing risks associated with selling loans. ASB enters into IRLCs for residential mortgage loans, which commit ASB to lend funds to a potential borrower at a specific interest rate and within a specified period of time. IRLCs that relate to the origination of mortgage loans that will be held for sale are considered derivative financial instruments under applicable accounting guidance. Outstanding IRLCs expose ASB to the risk that the price of the mortgage loans underlying the commitments may decline due to increases in mortgage interest rates from inception of the rate lock to the funding of the loan. The IRLCs are free-standing derivatives which are carried at fair value with changes recorded in mortgage banking income. ASB enters into forward commitments to hedge the interest rate risk for rate locked mortgage applications in process and closed mortgage loans held for sale. These commitmen

Credit agreements

Credit agreements	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Credit agreements	Credit agreements On May 14, 2021, HEI and Hawaiian Electric each entered into a separate agreement with a syndicate of nine financial institutions (the HEI Facility and Hawaiian Electric Facility, respectively, and together, the Credit Facilities) to amend and restate their respective previously existing revolving unsecured credit agreements. The $175 million HEI Facility and $200 million Hawaiian Electric Facility both terminate on May 14, 2026. On February 18, 2022, the PUC approved Hawaiian Electric’s request to extend the term of the $200 million Hawaiian Electric Facility to May 14, 2026. In addition to extending the term, Hawaiian Electric also received PUC approval to exercise its options of two one-year extensions of the commitment termination date and to increase its aggregate revolving commitment amount from $200 million to $275 million, should there be a need. None of the facilities are collateralized. As of March 31, 2022 and December 31, 2021, no amounts were outstanding under the Credit Facilities. The Credit 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.

Shareholders' equity

Shareholders' equity	3 Months Ended
	Mar. 31, 2022
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 AOCI-Retirement benefit plans Balance, December 31, 2021 $ (32,037) $ (3,638) $ (16,858) $ (52,533) $ (3,280) Current period other comprehensive income (loss) (120,407) 3,072 176 (117,159) 51 Balance, March 31, 2022 $ (152,444) $ (566) $ (16,682) $ (169,692) $ (3,229) Balance, December 31, 2020 $ 19,986 $ (3,363) $ (17,887) $ (1,264) $ (2,919) Current period other comprehensive income (loss) (45,777) 1,562 199 (44,016) 34 Balance, March 31, 2021 $ (25,791) $ (1,801) $ (17,688) $ (45,280) $ (2,885) Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Affected line item in the Three months ended March 31 (in thousands) 2022 2021 HEI consolidated Net realized gains on securities included in net income $ — $ (387) Gain on sale of investment securities, net Net realized losses on derivatives qualifying as cash flow hedges 55 — Interest expense Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 4,501 6,010 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (4,325) (5,811) See Note 8 for additional details Total reclassifications $ 231 $ (188) Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ 4,376 $ 5,845 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (4,325) (5,811) See Note 8 for additional details Total reclassifications $ 51 $ 34

Revenues

Revenues	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenue from contracts with customers. The following tables disaggregate revenues by major source, timing of revenue recognition, and segment: Three months ended March 31, 2022 (in thousands) Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 224,574 $ — $ — $ 224,574 Electric energy sales - commercial 219,597 — — 219,597 Electric energy sales - large light and power 241,123 — — 241,123 Electric energy sales - other 1,426 — — 1,426 Bank fees — 12,996 — 12,996 Other sales — — 1,115 1,115 Total revenues from contracts with customers 686,720 12,996 1,115 700,831 Revenues from other sources Regulatory revenue $ 12,886 $ — $ — $ 12,886 Bank interest and dividend income — 59,989 — 59,989 Other bank noninterest income — 2,130 — 2,130 Other 9,186 — 46 9,232 Total revenues from other sources 22,072 62,119 46 84,237 Total revenues $ 708,792 $ 75,115 $ 1,161 $ 785,068 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 12,996 $ — $ 12,996 Services/goods transferred over time 686,720 — 1,115 687,835 Total revenues from contracts with customers $ 686,720 $ 12,996 $ 1,115 $ 700,831 Three months ended March 31, 2021 (in thousands) Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 181,239 $ — $ — $ 181,239 Electric energy sales - commercial 168,465 — — 168,465 Electric energy sales - large light and power 176,815 — — 176,815 Electric energy sales - other 2,479 — — 2,479 Bank fees — 11,378 — 11,378 Other sales — — 924 924 Total revenues from contracts with customers 528,998 11,378 924 541,300 Revenues from other sources Regulatory revenue 28,429 — — 28,429 Bank interest and dividend income — 58,620 — 58,620 Other bank noninterest income — 7,133 — 7,133 Other 7,437 — 27 7,464 Total revenues from other sources 35,866 65,753 27 101,646 Total revenues $ 564,864 $ 77,131 $ 951 $ 642,946 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 11,378 $ — $ 11,378 Services/goods transferred over time 528,998 — 924 529,922 Total revenues from contracts with customers $ 528,998 $ 11,378 $ 924 $ 541,300 There are no material contract assets or liabilities associated with revenues from contracts with customers existing at December 31, 2021 or as of March 31, 2022. 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.

Retirement benefits

Retirement benefits	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Retirement benefits	Retirement benefits Defined benefit pension and other postretirement benefit plans information. For the first three months of 2022, the Company contributed $10 million ($10 million by the Utilities) to its pension and other postretirement benefit plans, compared to $9 million ($9 million by the Utilities) in the first three months of 2021. The Company’s current estimate of total contributions to its pension and other postretirement benefit plans in 2022 is $41 million ($41 million by the Utilities), compared to $52 million ($51 million by the Utilities) in 2021. In addition, the Company expects to pay directly $3 million ($1 million by the Utilities) of benefits in 2022, compared to $1 million ($1 million by the Utilities) paid in 2021. The components of net periodic pension costs (NPPC) and net periodic benefit costs (NPBC) for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended March 31 Pension benefits Other benefits (in thousands) 2022 2021 2022 2021 HEI consolidated Service cost $ 19,824 $ 20,464 $ 656 $ 705 Interest cost 19,811 18,801 1,637 1,569 Expected return on plan assets (35,333) (33,067) (3,397) (3,233) Amortization of net prior period gain — — (232) (383) Amortization of net actuarial (gain)/losses 1 6,297 1,556 (3) 254 Net periodic pension/benefit cost (return) 10,599 7,754 (1,339) (1,088) Impact of PUC D&Os 9,551 11,167 1,219 970 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 20,150 $ 18,921 $ (120) $ (118) Hawaiian Electric consolidated Service cost $ 19,318 $ 19,994 $ 649 $ 699 Interest cost 18,462 17,531 1,573 1,504 Expected return on plan assets (33,546) (31,368) (3,347) (3,182) Amortization of net prior period gain — — (231) (383) Amortization of net actuarial losses 1 6,125 2,559 — 250 Net periodic pension/benefit cost (return) 10,359 8,716 (1,356) (1,112) Impact of PUC D&Os 9,551 11,167 1,219 970 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 19,910 $ 19,883 $ (137) $ (142) 1 Three months ended March 31, 2021 amounts include the one-time cumulative impact of the change in accounting principle for the plans’ fixed income securities from the calculated market-related value method to the fair value method, which was recorded in the first quarter of 2021. HEI consolidated recorded retirement benefits expense of $12 million ($12 million by the Utilities) in the first three months of 2022 and $11 million ($12 million by the Utilities) in the first three months of 2021 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, any actual costs determined in accordance with GAAP that are over/under amounts allowed in rates are charged/credited to a regulatory asset/liability. The regulatory asset/liability for each utility will then be amortized over 5 years beginning with the respective utility’s next rate case. Defined contribution plans information. For the first three months of 2022 and 2021, the Company’s expenses for its defined contribution plans under the Hawaiian Electric Industries Retirement Savings Plan (HEIRSP) and the ASB 401(k) Plan were $2.0 million and $1.7 million, respectively, and cash contributions were $1.9 million and $1.8 million, respectively. For the first three months of 2022 and 2021, the Utilities’ expenses and cash contributions for its defined contribution plan under the HEIRSP were $0.9 million and $0.8 million, respectively. Retirement benefit plan changes. On December 3, 2021, the Utilities’ union members ratified a new collective bargaining agreement, which includes changes to retirement benefits for all new employees commencing employment on or after January 1, 2022. The changes ratified in the collective bargaining agreement will apply to all employees of HEI and the Utilities first hired on or after January 1, 2022 (New Employees). New Employees are not eligible to participate in the HEI Pension Plan. Instead, New Employees will receive a non-elective employer contribution, equal to 10% of their annual compensation, subject to a vesting schedule, to their account under the HEIRSP, the defined contribution plan for HEI and the Utilities. Only New Employees are impacted by the retirement benefit plan changes. There are no retirement benefit plan changes for employees hired on or before December 31, 2021.

Share-based compensation

Share-based compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [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 March 31, 2022, approximately 2.8 million shares remained available for future issuance under the terms of the EIP, assuming recycling of shares withheld to satisfy 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 March 31, 2022, there were 244,347 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 March 31 (in millions) 2022 2021 HEI consolidated Share-based compensation expense 1 $ 2.1 $ 2.6 Income tax benefit 0.3 0.4 Hawaiian Electric consolidated Share-based compensation expense 1 0.6 1.1 Income tax benefit 0.1 0.3 1 For the three months ended March 31, 2022 and 2021, the Company has not capitalized any share-based compensation. Stock awards. There were no grants to nonemployee directors for the three months ended March 31, 2022 and 2021. Restricted stock units. Information about HEI’s grants of restricted stock units was as follows: Three months ended March 31 2022 2021 Shares (1) Shares (1) Outstanding, beginning of period 233,448 $ 38.10 193,939 $ 40.89 Granted 96,455 41.29 127,598 33.98 Vested (90,380) 37.58 (78,988) 38.51 Forfeited (31,178) 38.78 (6,358) 42.20 Outstanding, end of period 208,345 $ 39.71 236,191 $ 37.91 Total weighted-average grant-date fair value of shares granted (in millions) $ 4.0 $ 4.3 (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 three months ended March 31, 2022 and 2021, total restricted stock units and related dividends that vested had a fair value of $3.9 million and $3.0 million, respectively, and the related tax benefits were $0.6 million and $0.6 million, respectively. As of March 31, 2022, there was $7.6 million of total unrecognized compensation cost related to the nonvested restricted stock units. The cost is expected to be recognized over a weighted-average period of 2.3 years. Long-term incentive plan payable in stock. The 2020-22, 2021-23 and 2022-24 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), renewable portfolio standards, carbon emissions reduction, Hawaiian Electric’s net income growth, ASB’s efficiency ratio and strategic initiatives and Pacific Current’s EBITDA growth and return on average invested capital. LTIP linked to TSR . Information about HEI’s LTIP grants linked to TSR was as follows: Three months ended March 31 2022 2021 Shares (1) Shares (1) Outstanding, beginning of period 90,974 $ 42.86 89,222 $ 42.10 Granted 26,079 54.92 44,210 41.12 Vested (issued or unissued and cancelled) (29,042) 41.07 (32,355) 38.20 Forfeited (11,671) 42.60 (1,024) 45.89 Outstanding, end of period 76,340 $ 47.70 100,053 $ 42.89 Total weighted-average grant-date fair value of shares granted (in millions) $ 1.4 $ 1.8 (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 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. A dividend assumption is not required for the Monte Carlo simulation because the grant payout includes dividend equivalents and projected returns include the value of reinvested dividends. 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: 2022 2021 Risk-free interest rate 1.71 % 0.19 % Expected life in years 3 3 Expected volatility 31.0 % 29.9 % Range of expected volatility for Peer Group 25.4% to 76.7% 25.6% to 102.9% Grant date fair value (per share) $54.92 $41.12 For the three months ended March 31, 2022 and 2021, total vested LTIP awards linked to TSR and related dividends had a fair value of $0.8 million and $0.8 million, respectively, and the related tax benefits were $0.1 million and $0.2 million, respectively. As of March 31, 2022, there was $2.2 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 March 31 2022 2021 Shares (1) Shares (1) Outstanding, beginning of period 306,342 $ 38.42 220,715 $ 41.03 Granted 104,300 41.29 176,844 33.98 Vested (71,807) 37.68 (43,155) 34.12 Increase above target (cancelled) — — (14,604) 43.90 Forfeited (46,684) 36.77 (4,098) 44.36 Outstanding, end of period 292,151 $ 39.89 335,702 $ 38.04 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ 4.3 $ 6.0 (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 three months ended March 31, 2022 and 2021, total vested LTIP awards linked to other performance conditions and related dividends had a fair value of $3.2 million and $1.7 million, respectively, and the related tax benefits were $0.4 million and $0.4 million, respectively. As of March 31, 2022, there was $6.6 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 1.9 years.

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income taxes	Income taxesThe Company’s and the Utilities’ effective tax rates (combined federal and state income tax rates) were 20% and 21%, respectively, for the three months ended March 31, 2022. These rates differed from the combined statutory rates, due primarily to the Utilities’ 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%, the tax benefits derived from the low income housing tax credit investments and the non-taxability of the bank-owned life insurance income. The Company’s and the Utilities’ effective tax rates were 19% and 20%, respectively, for the three months ended March 31, 2021. In August 2020, the Internal Revenue Service notified the Company that its 2017 and 2018 income tax returns would be examined. The Company was previously audited every year through 2011, at which time the IRS changed their internal policies regarding audit frequency. The audit is still in progress and the Company has responded to all information requests received. The Company has not been notified of any material audit adjustments to date.

Cash flows

Cash flows	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash flows	Cash flows Three months ended March 31 2022 2021 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 10 $ 15 Hawaiian Electric consolidated Interest paid to non-affiliates 6 9 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 24 28 Increase related to an acquisition (investing) 15 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 35 28 Common stock issued (gross) for director and executive/management compensation (financing) 1 8 6 Unsettled trades to purchase investment securities (investing) 25 — Other receivable related to pending sales proceeds from the sale of an equity-method investment (investing) 9 — Hawaiian Electric consolidated Electric utility property, plant and equipment Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 21 24 Increase related to an acquisition (investing) 15 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 32 28 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	3 Months Ended
	Mar. 31, 2022
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 is estimated using a discounted cash flow model to calculate the present value of future principal and interest payments and, therefore is classified within Level 3 of the valuation hierarchy. Loans held for sale . Residential and commercial loans are carried at the lower of cost or market and are valued using market observable pricing inputs, which are derived from third party loan sales and, therefore, are classified within Level 2 of the valuation hierarchy. Loans held for investment . Fair value of loans held for investment is derived using a discounted cash flow approach which includes an evaluation of the underlying loan characteristics. The valuation model uses loan characteristics which includes product type, maturity dates and the underlying interest rate of the portfolio. This information is input into the valuation models along with various forecast valuation assumptions including prepayment forecasts, to determine the discount rate. These assumptions are derived from internal and third party sources. Since the valuation is derived from model-based techniques, ASB includes loans held for investment within Level 3 of the valuation hierarchy. Collateral dependent loans . Collateral dependent loans have been adjusted to fair value. When a loan is identified as collateral dependent, the Company measures the impairment using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals, but in some cases, the value of the collateral may be estimated as having little or no 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. If it is determined that the value of the collateral dependent loan is less than its recorded investment, the Company recognizes this impairment and adjusts the carrying value of the loan to fair value through the allowance for credit losses. 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. MSRs 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 its own experience and expertise to arrive at a value. ASB uses the third-party value only to assess the reasonableness of its own estimate. ASB includes MSRs within Level 3 of the valuation hierarchy. Time deposits . The fair value of fixed-maturity certificates of deposit was estimated by discounting the future cash flows using the rates currently offered for FHLB advances of similar remaining maturities. Deposit liabilities are classified in Level 2 of the valuation hierarchy. Other borrowings . For advances and repurchase agreements, fair value is estimated using quantitative discounted cash flow models that require the use of interest rate inputs that are currently offered for advances and repurchase agreements of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including broker market transactions and third party pricing services. Long-term debt—other than bank . Fair value of fixed-rate long-term debt—other than bank 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. The carrying amount of floating rate long-term debt—other than bank approximated fair value because of the short-term interest reset periods. Long-term debt—other than bank is classified in Level 2 of the valuation hierarchy. Interest rate lock commitments (IRLCs) . The estimated fair value of commitments to originate residential mortgage loans for sale is based on quoted prices for similar loans in active markets. IRLCs are classified as Level 2 measurements. Forward sales commitments . To be announced (TBA) mortgage-backed securities forward commitments are classified as Level 1, and consist of publicly-traded debt securities for which identical fair values can be obtained through quoted market prices in active exchange markets. The fair values of ASB’s best efforts and mandatory delivery loan sale commitments are determined using quoted prices in the market place that are observable and are classified as Level 2 measurements. The following table presents the carrying or notional amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments. Estimated fair value (in thousands) Carrying or notional amount Quoted prices in Significant Significant Total March 31, 2022 Financial assets HEI consolidated Available-for-sale investment securities $ 2,621,375 $ — $ 2,606,079 $ 15,296 $ 2,621,375 Held-to-maturity investment securities 517,150 — 466,236 — 466,236 Loans, net 5,125,483 — 7,932 5,014,000 5,021,932 Mortgage servicing rights 10,024 — — 16,274 16,274 Derivative assets 30,043 168 824 — 992 Financial liabilities HEI consolidated Deposit liabilities 394,015 — 386,547 — 386,547 Short-term borrowings—other than bank 71,491 — 71,491 — 71,491 Other bank borrowings 137,385 — 137,383 — 137,383 Long-term debt, net—other than bank 2,316,046 — 2,390,702 — 2,390,702 Derivative liabilities 31,049 — 1,704 — 1,704 Hawaiian Electric consolidated Short-term borrowings 6,000 — 6,000 — 6,000 Long-term debt, net 1,676,581 — 1,765,004 — 1,765,004 December 31, 2021 Financial assets HEI consolidated Available-for-sale investment securities $ 2,574,618 $ — $ 2,559,191 $ 15,427 $ 2,574,618 Held-to-maturity investment securities 522,270 — 510,474 — 510,474 Loans, net 5,150,388 — 10,403 5,218,121 5,228,524 Mortgage servicing rights 9,950 — — 14,480 14,480 Derivative assets 57,377 — 909 — 909 Financial liabilities HEI consolidated Deposit liabilities 423,976 — 442,361 — 442,361 Short-term borrowings—other than bank 53,998 — 53,998 — 53,998 Other bank borrowings 88,305 — 88,304 — 88,304 Long-term debt, net—other than bank 2,321,937 — 2,624,130 — 2,624,130 Derivative liabilities 57,000 11 5,271 — 5,282 Hawaiian Electric consolidated Long-term debt, net 1,676,402 — 1,955,710 — 1,955,710 Fair value measurements on a recurring basis. Assets and liabilities measured at fair value on a recurring basis were as follows: March 31, 2022 December 31, 2021 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-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies $ — $ 2,456,754 $ — $ — $ 2,437,923 $ — U.S. Treasury and federal agency obligations — 106,202 — — 90,090 — Corporate bonds — 43,123 — — 31,178 — Mortgage revenue bonds — — 15,296 — — 15,427 $ — $ 2,606,079 $ 15,296 $ — $ 2,559,191 $ 15,427 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 40 $ — $ — $ 638 $ — Forward commitments (bank segment) 1 168 — — — — — Interest rate swap (Other segment) 2 — 784 — — 271 — $ 168 $ 824 $ — $ — $ 909 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ 58 $ — $ — $ — $ — Forward commitments (bank segment) 1 — — — 11 — — Interest rate swap (Other segment) 2 — 1,646 — — 5,271 — $ — $ 1,704 $ — $ 11 $ 5,271 $ — 1 Derivatives are carried at fair value in other assets or other liabilities in the balance sheets with changes in value included in mortgage banking income. 2 Derivatives are included in other assets and other liabilities in the balance sheets. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: Three months ended March 31 Mortgage revenue bonds 2022 2021 (in thousands) Beginning balance $ 15,427 $ 27,185 Principal payments received (131) (11,758) Purchases — — Unrealized gain (loss) included in other comprehensive income — — Ending balance $ 15,296 $ 15,427 Mortgage revenue bonds are 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 March 31, 2022, the weighted average discount rate was 2.27%, 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. As of March 31, 2022 and December 31, 2021, there were no financial instruments measured at fair value on a nonrecurring basis. For the three months ended March 31, 2022 and 2021, there were no adjustments to fair value for ASB’s loans held for sale. 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)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentationThe 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.
Recent accounting pronouncements	Recent accounting pronouncements. Credit Losses. In March 2022, Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2022-02, “Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which eliminates the accounting guidance for Troubled Debt Restructurings (TDRs) by creditors in Subtopic 310-40, Receivables-Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance in paragraphs 310-20-35-9 through 35-11 to determine whether a modification results in a new loan or a continuation of an existing loan. The amendments in this update also require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, “Financial Instruments-Credit Losses-Measured at Amortized Cost.” Gross write-off information must be included in the vintage disclosures required for public business entities in accordance with paragraph 325-20-50-6, which requires that an entity disclose the amortized cost basis of financing receivables by credit-quality indicator and class of financing receivable by year of origination. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. ASB is assessing the requirements of the ASU.
Troubled debt restructurings	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. The allowance for credit losses on TDR loans that do not share risk characteristics are individually evaluated based on the present value of expected future cash flows discounted at the loan’s effective original contractual rate or based on the fair value of collateral less cost to sell. The financial impact of the estimated loss 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 credit losses.
Fair value measurements	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 is estimated using a discounted cash flow model to calculate the present value of future principal and interest payments and, therefore is classified within Level 3 of the valuation hierarchy. Loans held for sale . Residential and commercial loans are carried at the lower of cost or market and are valued using market observable pricing inputs, which are derived from third party loan sales and, therefore, are classified within Level 2 of the valuation hierarchy. Loans held for investment . Fair value of loans held for investment is derived using a discounted cash flow approach which includes an evaluation of the underlying loan characteristics. The valuation model uses loan characteristics which includes product type, maturity dates and the underlying interest rate of the portfolio. This information is input into the valuation models along with various forecast valuation assumptions including prepayment forecasts, to determine the discount rate. These assumptions are derived from internal and third party sources. Since the valuation is derived from model-based techniques, ASB includes loans held for investment within Level 3 of the valuation hierarchy. Collateral dependent loans . Collateral dependent loans have been adjusted to fair value. When a loan is identified as collateral dependent, the Company measures the impairment using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals, but in some cases, the value of the collateral may be estimated as having little or no 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. If it is determined that the value of the collateral dependent loan is less than its recorded investment, the Company recognizes this impairment and adjusts the carrying value of the loan to fair value through the allowance for credit losses. 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. MSRs 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 its own experience and expertise to arrive at a value. ASB uses the third-party value only to assess the reasonableness of its own estimate. ASB includes MSRs within Level 3 of the valuation hierarchy. Time deposits . The fair value of fixed-maturity certificates of deposit was estimated by discounting the future cash flows using the rates currently offered for FHLB advances of similar remaining maturities. Deposit liabilities are classified in Level 2 of the valuation hierarchy. Other borrowings . For advances and repurchase agreements, fair value is estimated using quantitative discounted cash flow models that require the use of interest rate inputs that are currently offered for advances and repurchase agreements of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including broker market transactions and third party pricing services. Long-term debt—other than bank . Fair value of fixed-rate long-term debt—other than bank 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. The carrying amount of floating rate long-term debt—other than bank approximated fair value because of the short-term interest reset periods. Long-term debt—other than bank is classified in Level 2 of the valuation hierarchy. 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.

Segment financial information (

Segment financial information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of segment financial information	(in thousands) Electric utility Bank Other Total Three months ended March 31, 2022 Revenues from external customers $ 708,788 $ 75,115 $ 1,165 $ 785,068 Intersegment revenues (eliminations) 4 — (4) — Revenues $ 708,792 $ 75,115 $ 1,161 $ 785,068 Income (loss) before income taxes $ 59,446 $ 30,215 $ (2,181) $ 87,480 Income taxes (benefit) 12,538 6,345 (1,043) 17,840 Net income (loss) 46,908 23,870 (1,138) 69,640 Preferred stock dividends of subsidiaries 499 — (26) 473 Net income (loss) for common stock $ 46,409 $ 23,870 $ (1,112) $ 69,167 Total assets (at March 31, 2022) $ 6,535,176 $ 9,252,325 $ 120,928 $ 15,908,429 Three months ended March 31, 2021 Revenues from external customers $ 564,855 $ 77,131 $ 960 $ 642,946 Intersegment revenues (eliminations) 9 — (9) — Revenues $ 564,864 $ 77,131 $ 951 $ 642,946 Income (loss) before income taxes $ 55,090 $ 37,102 $ (11,996) $ 80,196 Income taxes (benefit) 11,233 7,546 (3,414) 15,365 Net income (loss) 43,857 29,556 (8,582) 64,831 Preferred stock dividends of subsidiaries 499 — (26) 473 Net income (loss) for common stock $ 43,358 $ 29,556 $ (8,556) $ 64,358 Total assets (at December 31, 2021) $ 6,491,625 $ 9,181,603 $ 149,409 $ 15,822,637

Electric utility segment (Table

Electric utility segment (Tables)	3 Months Ended
	Mar. 31, 2022
Electric Utility Subsidiary [Abstract]
Schedule of purchases from all IPPs	Purchases from all IPPs were as follows: Three months ended March 31 (in millions) 2022 2021 Kalaeloa $ 60 $ 37 AES Hawaii 27 30 HPOWER 19 17 Hamakua Energy 16 11 Puna Geothermal Venture 10 4 Wind IPPs 18 29 Solar IPPs 13 12 Other IPPs 1 1 2 Total IPPs $ 164 $ 142
Schedule of net annual incremental amounts proposed to be collected (refunded)	The net incremental amounts between the 2021 fall and 2022 spring revenue reports are proposed to be collected (refunded) from June 1, 2022 through May 31, 2023 as follows: (in millions) Hawaiian Electric Hawaii Electric Light Maui Electric Total Incremental accrued RBA balance through September 30, 2021 (and associated revenue taxes) $ (5.7) $ 2.1 $ (4.7) $ (8.3) Incremental Performance Incentive Mechanisms (net) 1.9 0.4 0.4 2.7 Incremental MPIR/EPRM Revenue Adjustment 1.3 0.8 0.7 2.8 Other (0.1) — — $ (0.1) Net incremental amount to be collected under the RBA rate tariffs $ (2.6) $ 3.3 $ (3.6) $ (2.9)
Schedule of condensed consolidating statements of income (loss)	Condensed Consolidating Statement of Income Three months ended March 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 500,242 108,528 100,028 — (6) $ 708,792 Expenses Fuel oil 154,425 25,251 41,610 — — 221,286 Purchased power 124,183 30,712 8,638 — — 163,533 Other operation and maintenance 83,656 20,214 21,387 — — 125,257 Depreciation 39,484 10,351 8,636 — — 58,471 Taxes, other than income taxes 47,274 10,032 9,344 — — 66,650 Total expenses 449,022 96,560 89,615 — — 635,197 Operating income 51,220 11,968 10,413 — (6) 73,595 Allowance for equity funds used during construction 1,990 193 226 — — 2,409 Equity in earnings of subsidiaries 13,661 — — — (13,661) — Retirement defined benefits credit (expense)—other than service costs 855 167 (32) — — 990 Interest expense and other charges, net (13,093) (2,609) (2,630) — 6 (18,326) Allowance for borrowed funds used during construction 651 60 67 — — 778 Income before income taxes 55,284 9,779 8,044 — (13,661) 59,446 Income taxes 8,605 2,268 1,665 — — 12,538 Net income 46,679 7,511 6,379 — (13,661) 46,908 Preferred stock dividends of subsidiaries — 134 95 — — 229 Net income attributable to Hawaiian Electric 46,679 7,377 6,284 — (13,661) 46,679 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 46,409 7,377 6,284 — (13,661) $ 46,409 Condensed Consolidating Statement of Income Three months ended March 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 400,554 85,149 79,181 — (20) $ 564,864 Expenses Fuel oil 88,728 16,485 22,214 — — 127,427 Purchased power 108,604 21,597 12,095 — — 142,296 Other operation and maintenance 77,335 17,912 19,323 — — 114,570 Depreciation 38,914 10,048 8,393 — — 57,355 Taxes, other than income taxes 38,627 7,993 7,482 — — 54,102 Total expenses 352,208 74,035 69,507 — — 495,750 Operating income 48,346 11,114 9,674 — (20) 69,114 Allowance for equity funds used during construction 1,748 132 311 — — 2,191 Equity in earnings of subsidiaries 12,510 — — — (12,510) — Retirement defined benefits credit (expense)—other than service costs 886 168 (33) — — 1,021 Interest expense and other charges, net (12,832) (2,581) (2,590) — 20 (17,983) Allowance for borrowed funds used during construction 591 44 112 — — 747 Income before income taxes 51,249 8,877 7,474 — (12,510) 55,090 Income taxes 7,621 2,051 1,561 — — 11,233 Net income 43,628 6,826 5,913 — (12,510) 43,857 Preferred stock dividends of subsidiaries — 134 95 — — 229 Net income attributable to Hawaiian Electric 43,628 6,692 5,818 — (12,510) 43,628 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 43,358 6,692 5,818 — (12,510) $ 43,358 Statements of Income and Comprehensive Income Data Three months ended March 31 (in thousands) 2022 2021 Interest and dividend income Interest and fees on loans $ 46,005 $ 49,947 Interest and dividends on investment securities 13,984 8,673 Total interest and dividend income 59,989 58,620 Interest expense Interest on deposit liabilities 947 1,462 Interest on other borrowings 5 27 Total interest expense 952 1,489 Net interest income 59,037 57,131 Provision for credit losses (3,263) (8,435) Net interest income after provision for credit losses 62,300 65,566 Noninterest income Fees from other financial services 5,587 5,073 Fee income on deposit liabilities 4,691 3,863 Fee income on other financial products 2,718 2,442 Bank-owned life insurance 681 2,561 Mortgage banking income 1,077 4,300 Gain on sale of real estate 1,002 — Gain on sale of investment securities, net — 528 Other income, net 372 272 Total noninterest income 16,128 19,039 Noninterest expense Compensation and employee benefits 27,215 28,037 Occupancy 5,952 4,969 Data processing 4,151 4,351 Services 2,439 2,862 Equipment 2,329 2,222 Office supplies, printing and postage 1,060 1,044 Marketing 1,018 648 FDIC insurance 808 816 Other expense 3,241 2,554 Total noninterest expense 48,213 47,503 Income before income taxes 30,215 37,102 Income taxes 6,345 7,546 Net income 23,870 29,556 Other comprehensive loss, net of tax benefits (122,441) (45,754) Comprehensive income (loss) $ (98,571) $ (16,198) Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended March 31 (in thousands) 2022 2021 Interest and dividend income $ 59,989 $ 58,620 Noninterest income 16,128 19,039 Less: Gain on sale of real estate 1,002 — Less: Gain on sale of investment securities, net — 528 *Revenues-Bank 75,115 77,131 Total interest expense 952 1,489 Provision for credit losses (3,263) (8,435) Noninterest expense 48,213 47,503 Less: Gain on sale of real estate 1,002 — Less: Retirement defined benefits credit—other than service costs (185) (1,278) *Expenses-Bank 45,085 41,835 *Operating income-Bank 30,030 35,296 Add back: Retirement defined benefits credit—other than service costs (185) (1,278) Add back: Gain on sale of investment securities, net — 528 Income before income taxes $ 30,215 $ 37,102
Schedule of condensed consolidating statement of comprehensive income	Condensed Consolidating Statement of Comprehensive Income Three months ended March 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Net income for common stock $ 46,409 7,377 6,284 — (13,661) $ 46,409 Other comprehensive income, 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 taxes 4,376 670 603 — (1,273) 4,376 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (4,325) (670) (603) — 1,273 (4,325) Other comprehensive income, net of taxes 51 — — — — 51 Comprehensive income attributable to common shareholder $ 46,460 7,377 6,284 — (13,661) $ 46,460 Condensed Consolidating Statement of Comprehensive Income Three months ended March 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Consolidated Net income for common stock $ 43,358 6,692 5,818 — (12,510) $ 43,358 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 5,845 835 761 — (1,596) 5,845 Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes (5,811) (834) (761) — 1,595 (5,811) Other comprehensive income, net of taxes 34 1 — — (1) 34 Comprehensive income attributable to common shareholder $ 43,392 6,693 5,818 — (12,511) $ 43,392
Schedule of condensed consolidating balance sheet	Condensed Consolidating Balance Sheet March 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,857 5,606 3,594 — — $ 52,057 Plant and equipment 5,144,377 1,394,875 1,256,817 — — 7,796,069 Less accumulated depreciation (1,788,280) (627,421) (570,061) — — (2,985,762) Construction in progress 164,073 19,691 28,984 — — 212,748 Utility property, plant and equipment, net 3,563,027 792,751 719,334 — — 5,075,112 Nonutility property, plant and equipment, less accumulated depreciation 5,301 115 1,532 — — 6,948 Total property, plant and equipment, net 3,568,328 792,866 720,866 — — 5,082,060 Investment in wholly owned subsidiaries, at equity 681,998 — — — (681,998) — Current assets Cash and cash equivalents 19,894 6,017 3,067 77 — 29,055 Restricted cash 2,140 — — — — 2,140 Advances to affiliates 5,000 — 12,800 — (17,800) — Customer accounts receivable, net 128,263 27,735 25,402 — — 181,400 Accrued unbilled revenues, net 98,511 21,235 20,259 — — 140,005 Other accounts receivable, net 15,846 5,128 4,269 — (18,203) 7,040 Fuel oil stock, at average cost 105,780 13,895 19,697 — — 139,372 Materials and supplies, at average cost 42,852 9,673 20,181 — — 72,706 Prepayments and other 29,677 4,602 5,883 — 1,253 41,415 Regulatory assets 69,638 4,877 4,360 — — 78,875 Total current assets 517,601 93,162 115,918 77 (34,750) 692,008 Other long-term assets Operating lease right-of-use assets 61,826 38,368 14,284 — — 114,478 Regulatory assets 325,063 78,877 76,346 — — 480,286 Other 128,934 18,620 19,607 — (817) 166,344 Total other long-term assets 515,823 135,865 110,237 — (817) 761,108 Total assets $ 5,283,750 1,021,893 947,021 77 (717,565) $ 6,535,176 Capitalization and liabilities Capitalization Common stock equity $ 2,276,884 336,177 345,744 77 (681,998) $ 2,276,884 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,136,739 234,413 253,447 — — 1,624,599 Total capitalization 3,435,916 577,590 604,191 77 (681,998) 3,935,776 Current liabilities Current portion of operating lease liabilities 31,078 6,370 2,510 — — 39,958 Current portion of long-term debt 39,986 11,996 — — — 51,982 Short-term borrowings from non-affiliates 6,000 — — — — 6,000 Short-term borrowings from affiliate 12,800 5,000 — — (17,800) — Accounts payable 124,463 22,175 21,551 — — 168,189 Interest and preferred dividends payable 20,057 3,687 4,414 — (4) 28,154 Taxes accrued, including revenue taxes 125,425 29,109 25,537 — 1,253 181,324 Regulatory liabilities 19,416 5,495 5,017 — — 29,928 Other 60,491 18,869 19,214 — (18,356) 80,218 Total current liabilities 439,716 102,701 78,243 — (34,907) 585,753 Deferred credits and other liabilities Operating lease liabilities 44,785 32,066 11,838 — — 88,689 Deferred income taxes 289,376 52,859 64,089 — — 406,324 Regulatory liabilities 702,745 178,224 92,547 — — 973,516 Unamortized tax credits 74,821 13,927 13,219 — — 101,967 Defined benefit pension and other postretirement benefit plans liability 216,181 47,842 52,312 — (660) 315,675 Other 80,210 16,684 30,582 — — 127,476 Total deferred credits and other liabilities 1,408,118 341,602 264,587 — (660) 2,013,647 Total capitalization and liabilities $ 5,283,750 1,021,893 947,021 77 (717,565) $ 6,535,176 Condensed Consolidating Balance Sheet December 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,737 5,606 3,594 — — $ 51,937 Plant and equipment 5,097,033 1,390,361 1,248,589 — — 7,735,983 Less accumulated depreciation (1,757,096) (619,991) (563,430) — — (2,940,517) Construction in progress 159,854 17,129 27,586 — — 204,569 Utility property, plant and equipment, net 3,542,528 793,105 716,339 — — 5,051,972 Nonutility property, plant and equipment, less accumulated depreciation 5,302 115 1,532 — — 6,949 Total property, plant and equipment, net 3,547,830 793,220 717,871 — — 5,058,921 Investment in wholly owned subsidiaries, at equity 676,237 — — — (676,237) — Current assets Cash and cash equivalents 23,344 5,326 23,422 77 — 52,169 Restricted cash 3,089 — — — — 3,089 Advances to affiliates 1,000 — — — (1,000) — Customer accounts receivable, net 135,949 28,469 22,441 — — 186,859 Accrued unbilled revenues, net 92,469 19,529 17,157 — — 129,155 Other accounts receivable, net 18,624 3,347 3,031 — (17,735) 7,267 Fuel oil stock, at average cost 71,184 12,814 20,080 — — 104,078 Materials and supplies, at average cost 42,006 9,727 20,144 — — 71,877 Prepayments and other 32,140 6,052 7,114 — 725 46,031 Regulatory assets 58,695 3,051 4,918 — — 66,664 Total current assets 478,500 88,315 118,307 77 (18,010) 667,189 Other long-term assets Operating lease right-of-use assets 78,710 22,442 318 — — 101,470 Regulatory assets 337,903 81,645 79,331 — — 498,879 Other 130,546 17,124 18,510 — (1,014) 165,166 Total other long-term assets 547,159 121,211 98,159 — (1,014) 765,515 Total assets $ 5,249,726 1,002,746 934,337 77 (695,261) $ 6,491,625 Capitalization and liabilities Capitalization Common stock equity $ 2,261,899 332,900 343,260 77 (676,237) $ 2,261,899 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,136,620 234,390 253,417 — — 1,624,427 Total capitalization 3,420,812 574,290 601,677 77 (676,237) 3,920,619 Current liabilities Current portion of operating lease liabilities 45,955 3,378 35 — — 49,368 Current portion of long-term debt 39,981 11,994 — — — 51,975 Short-term borrowings-affiliate — 1,000 — — (1,000) — Accounts payable 111,024 26,139 22,844 — — 160,007 Interest and preferred dividends payable 12,442 2,617 2,269 — (3) 17,325 Taxes accrued, including revenue taxes 143,723 33,153 30,679 — 725 208,280 Regulatory liabilities 22,240 3,247 4,273 — — 29,760 Other 56,752 14,158 18,540 — (17,881) 71,569 Total current liabilities 432,117 95,686 78,640 — (18,159) 588,284 Deferred credits and other liabilities Operating lease liabilities 46,426 19,063 291 — — 65,780 Deferred income taxes 291,027 53,298 64,309 — — 408,634 Regulatory liabilities 695,152 179,267 92,589 — — 967,008 Unamortized tax credits 76,201 14,212 13,532 — — 103,945 Defined benefit pension and other postretirement benefit plans liability 220,480 48,900 53,257 — (857) 321,780 Other 67,511 18,030 30,042 — (8) 115,575 Total deferred credits and other liabilities 1,396,797 332,770 254,020 — (865) 1,982,722 Total capitalization and liabilities $ 5,249,726 1,002,746 934,337 77 (695,261) $ 6,491,625 Balance Sheets Data (in thousands) March 31, 2022 December 31, 2021 Assets Cash and due from banks $ 114,249 $ 100,051 Interest-bearing deposits 155,279 151,189 Cash and cash equivalents 269,528 251,240 Investment securities Available-for-sale, at fair value 2,621,375 2,574,618 Held-to-maturity, at amortized cost (fair value of $466,236 and $510,474, respectively) 517,150 522,270 Stock in Federal Home Loan Bank, at cost 10,000 10,000 Loans held for investment 5,184,733 5,211,114 Allowance for credit losses (67,211) (71,130) Net loans 5,117,522 5,139,984 Loans held for sale, at lower of cost or fair value 7,961 10,404 Other 626,599 590,897 Goodwill 82,190 82,190 Total assets $ 9,252,325 $ 9,181,603 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 3,016,520 $ 2,976,632 Deposit liabilities—interest-bearing 5,272,752 5,195,580 Other borrowings 137,385 88,305 Other 210,681 193,268 Total liabilities 8,637,338 8,453,785 Common stock 1 1 Additional paid-in capital 354,635 353,895 Retained earnings 420,574 411,704 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (152,444) $ (32,037) Retirement benefit plans (7,779) (160,223) (5,745) (37,782) Total shareholder’s equity 614,987 727,818 Total liabilities and shareholder’s equity $ 9,252,325 $ 9,181,603 Other assets Bank-owned life insurance $ 176,301 $ 177,566 Premises and equipment, net 199,949 202,299 Accrued interest receivable 21,133 20,854 Mortgage-servicing rights 10,024 9,950 Low-income housing investments 107,791 110,989 Deferred tax asset 51,720 7,699 Other 59,681 61,540 $ 626,599 $ 590,897 Other liabilities Accrued expenses $ 104,958 $ 87,905 Federal and state income taxes payable 2,174 — Cashier’s checks 36,586 33,675 Advance payments by borrowers 5,664 9,994 Other 61,299 61,694 $ 210,681 $ 193,268
Schedule of condensed consolidating statement of changes in common stock equity	Condensed Consolidating Statement of Changes in Common Stock Equity Three months ended March 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Balance, December 31, 2021 $ 2,261,899 332,900 343,260 77 (676,237) $ 2,261,899 Net income for common stock 46,409 7,377 6,284 — (13,661) 46,409 Other comprehensive income, net of taxes 51 — — — — 51 Common stock dividends (31,475) (4,100) (3,800) — 7,900 (31,475) Balance, March 31, 2022 $ 2,276,884 336,177 345,744 77 (681,998) $ 2,276,884 Condensed Consolidating Statement of Changes in Common Stock Equity Three months ended March 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Balance, December 31, 2020 $ 2,141,918 317,451 309,363 77 (626,891) $ 2,141,918 Net income for common stock 43,358 6,692 5,818 — (12,510) 43,358 Other comprehensive income, net of taxes 34 1 — — (1) 34 Common stock dividends (27,925) (3,650) (3,776) — 7,426 (27,925) Balance, March 31, 2021 $ 2,157,385 320,494 311,405 77 (631,976) $ 2,157,385
Schedule of condensed consolidating statement of cash flows	Condensed Consolidating Statement of Cash Flows Three months ended March 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net cash provided by operating activities $ 55,669 15,778 13,228 — (7,900) $ 76,775 Cash flows from investing activities Capital expenditures (44,084) (15,133) (17,141) — — (76,358) Advances to affiliates (4,000) — (12,800) — 16,800 — Other 961 280 253 — — 1,494 Net cash used in investing activities (47,123) (14,853) (29,688) — 16,800 (74,864) Cash flows from financing activities Common stock dividends (31,475) (4,100) (3,800) — 7,900 (31,475) Preferred stock dividends of Hawaiian Electric and subsidiaries (270) (134) (95) — — (499) Net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less 18,800 4,000 — — (16,800) 6,000 Net cash used in financing activities (12,945) (234) (3,895) — (8,900) (25,974) Net increase (decrease) in cash and cash equivalents (4,399) 691 (20,355) — — (24,063) Cash, cash equivalents and restricted cash, beginning of period 26,433 5,326 23,422 77 — 55,258 Cash, cash equivalents and restricted cash, end of period 22,034 6,017 3,067 77 — 31,195 Less: Restricted cash (2,140) — — — — (2,140) Cash and cash equivalents, end of period $ 19,894 6,017 3,067 77 — $ 29,055 Condensed Consolidating Statement of Cash Flows Three months ended March 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consolidating Hawaiian Electric Net cash provided by operating activities $ 18,764 9,635 10,988 — (7,426) $ 31,961 Cash flows from investing activities Capital expenditures (45,293) (12,728) (12,340) — — (70,361) Advances from affiliates 26,700 — — — (26,700) — Other 1,182 372 309 — — 1,863 Net cash used in investing activities (17,411) (12,356) (12,031) — (26,700) (68,498) Cash flows from financing activities Common stock dividends (27,925) (3,650) (3,776) — 7,426 (27,925) Preferred stock dividends of Hawaiian Electric and subsidiaries (270) (134) (95) — — (499) Repayment of short-term debt (50,000) — — — — (50,000) Proceeds from issuance of long-term debt 60,000 30,000 25,000 — — 115,000 Net decrease in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less — (18,800) (7,900) — 26,700 — Other (96) (11) (9) — — (116) Net cash provided by (used in) financing activities (18,291) 7,405 13,220 — 34,126 36,460 Net increase (decrease) in cash and cash equivalents (16,938) 4,684 12,177 — — (77) Cash, cash equivalents and restricted cash, beginning of period 58,171 3,046 2,032 77 — 63,326 Cash, cash equivalents and restricted cash, end of period 41,233 7,730 14,209 77 — 63,249 Less: Restricted cash (11,506) — — — — (11,506) Cash and cash equivalents, end of period $ 29,727 7,730 14,209 77 — $ 51,743

Bank segment (Tables)

Bank segment (Tables)	3 Months Ended
	Mar. 31, 2022
Bank Subsidiary [Abstract]
Schedule of statements of income data	Condensed Consolidating Statement of Income Three months ended March 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 500,242 108,528 100,028 — (6) $ 708,792 Expenses Fuel oil 154,425 25,251 41,610 — — 221,286 Purchased power 124,183 30,712 8,638 — — 163,533 Other operation and maintenance 83,656 20,214 21,387 — — 125,257 Depreciation 39,484 10,351 8,636 — — 58,471 Taxes, other than income taxes 47,274 10,032 9,344 — — 66,650 Total expenses 449,022 96,560 89,615 — — 635,197 Operating income 51,220 11,968 10,413 — (6) 73,595 Allowance for equity funds used during construction 1,990 193 226 — — 2,409 Equity in earnings of subsidiaries 13,661 — — — (13,661) — Retirement defined benefits credit (expense)—other than service costs 855 167 (32) — — 990 Interest expense and other charges, net (13,093) (2,609) (2,630) — 6 (18,326) Allowance for borrowed funds used during construction 651 60 67 — — 778 Income before income taxes 55,284 9,779 8,044 — (13,661) 59,446 Income taxes 8,605 2,268 1,665 — — 12,538 Net income 46,679 7,511 6,379 — (13,661) 46,908 Preferred stock dividends of subsidiaries — 134 95 — — 229 Net income attributable to Hawaiian Electric 46,679 7,377 6,284 — (13,661) 46,679 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 46,409 7,377 6,284 — (13,661) $ 46,409 Condensed Consolidating Statement of Income Three months ended March 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other subsidiaries Consolidating adjustments Hawaiian Electric Revenues $ 400,554 85,149 79,181 — (20) $ 564,864 Expenses Fuel oil 88,728 16,485 22,214 — — 127,427 Purchased power 108,604 21,597 12,095 — — 142,296 Other operation and maintenance 77,335 17,912 19,323 — — 114,570 Depreciation 38,914 10,048 8,393 — — 57,355 Taxes, other than income taxes 38,627 7,993 7,482 — — 54,102 Total expenses 352,208 74,035 69,507 — — 495,750 Operating income 48,346 11,114 9,674 — (20) 69,114 Allowance for equity funds used during construction 1,748 132 311 — — 2,191 Equity in earnings of subsidiaries 12,510 — — — (12,510) — Retirement defined benefits credit (expense)—other than service costs 886 168 (33) — — 1,021 Interest expense and other charges, net (12,832) (2,581) (2,590) — 20 (17,983) Allowance for borrowed funds used during construction 591 44 112 — — 747 Income before income taxes 51,249 8,877 7,474 — (12,510) 55,090 Income taxes 7,621 2,051 1,561 — — 11,233 Net income 43,628 6,826 5,913 — (12,510) 43,857 Preferred stock dividends of subsidiaries — 134 95 — — 229 Net income attributable to Hawaiian Electric 43,628 6,692 5,818 — (12,510) 43,628 Preferred stock dividends of Hawaiian Electric 270 — — — — 270 Net income for common stock $ 43,358 6,692 5,818 — (12,510) $ 43,358 Statements of Income and Comprehensive Income Data Three months ended March 31 (in thousands) 2022 2021 Interest and dividend income Interest and fees on loans $ 46,005 $ 49,947 Interest and dividends on investment securities 13,984 8,673 Total interest and dividend income 59,989 58,620 Interest expense Interest on deposit liabilities 947 1,462 Interest on other borrowings 5 27 Total interest expense 952 1,489 Net interest income 59,037 57,131 Provision for credit losses (3,263) (8,435) Net interest income after provision for credit losses 62,300 65,566 Noninterest income Fees from other financial services 5,587 5,073 Fee income on deposit liabilities 4,691 3,863 Fee income on other financial products 2,718 2,442 Bank-owned life insurance 681 2,561 Mortgage banking income 1,077 4,300 Gain on sale of real estate 1,002 — Gain on sale of investment securities, net — 528 Other income, net 372 272 Total noninterest income 16,128 19,039 Noninterest expense Compensation and employee benefits 27,215 28,037 Occupancy 5,952 4,969 Data processing 4,151 4,351 Services 2,439 2,862 Equipment 2,329 2,222 Office supplies, printing and postage 1,060 1,044 Marketing 1,018 648 FDIC insurance 808 816 Other expense 3,241 2,554 Total noninterest expense 48,213 47,503 Income before income taxes 30,215 37,102 Income taxes 6,345 7,546 Net income 23,870 29,556 Other comprehensive loss, net of tax benefits (122,441) (45,754) Comprehensive income (loss) $ (98,571) $ (16,198) Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended March 31 (in thousands) 2022 2021 Interest and dividend income $ 59,989 $ 58,620 Noninterest income 16,128 19,039 Less: Gain on sale of real estate 1,002 — Less: Gain on sale of investment securities, net — 528 *Revenues-Bank 75,115 77,131 Total interest expense 952 1,489 Provision for credit losses (3,263) (8,435) Noninterest expense 48,213 47,503 Less: Gain on sale of real estate 1,002 — Less: Retirement defined benefits credit—other than service costs (185) (1,278) *Expenses-Bank 45,085 41,835 *Operating income-Bank 30,030 35,296 Add back: Retirement defined benefits credit—other than service costs (185) (1,278) Add back: Gain on sale of investment securities, net — 528 Income before income taxes $ 30,215 $ 37,102
Schedule of statements of comprehensive income data	Statements of Income and Comprehensive Income Data Three months ended March 31 (in thousands) 2022 2021 Interest and dividend income Interest and fees on loans $ 46,005 $ 49,947 Interest and dividends on investment securities 13,984 8,673 Total interest and dividend income 59,989 58,620 Interest expense Interest on deposit liabilities 947 1,462 Interest on other borrowings 5 27 Total interest expense 952 1,489 Net interest income 59,037 57,131 Provision for credit losses (3,263) (8,435) Net interest income after provision for credit losses 62,300 65,566 Noninterest income Fees from other financial services 5,587 5,073 Fee income on deposit liabilities 4,691 3,863 Fee income on other financial products 2,718 2,442 Bank-owned life insurance 681 2,561 Mortgage banking income 1,077 4,300 Gain on sale of real estate 1,002 — Gain on sale of investment securities, net — 528 Other income, net 372 272 Total noninterest income 16,128 19,039 Noninterest expense Compensation and employee benefits 27,215 28,037 Occupancy 5,952 4,969 Data processing 4,151 4,351 Services 2,439 2,862 Equipment 2,329 2,222 Office supplies, printing and postage 1,060 1,044 Marketing 1,018 648 FDIC insurance 808 816 Other expense 3,241 2,554 Total noninterest expense 48,213 47,503 Income before income taxes 30,215 37,102 Income taxes 6,345 7,546 Net income 23,870 29,556 Other comprehensive loss, net of tax benefits (122,441) (45,754) Comprehensive income (loss) $ (98,571) $ (16,198) Reconciliation to amounts per HEI Condensed Consolidated Statements of Income*: Three months ended March 31 (in thousands) 2022 2021 Interest and dividend income $ 59,989 $ 58,620 Noninterest income 16,128 19,039 Less: Gain on sale of real estate 1,002 — Less: Gain on sale of investment securities, net — 528 *Revenues-Bank 75,115 77,131 Total interest expense 952 1,489 Provision for credit losses (3,263) (8,435) Noninterest expense 48,213 47,503 Less: Gain on sale of real estate 1,002 — Less: Retirement defined benefits credit—other than service costs (185) (1,278) *Expenses-Bank 45,085 41,835 *Operating income-Bank 30,030 35,296 Add back: Retirement defined benefits credit—other than service costs (185) (1,278) Add back: Gain on sale of investment securities, net — 528 Income before income taxes $ 30,215 $ 37,102
Schedule of balance sheets data	Condensed Consolidating Balance Sheet March 31, 2022 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,857 5,606 3,594 — — $ 52,057 Plant and equipment 5,144,377 1,394,875 1,256,817 — — 7,796,069 Less accumulated depreciation (1,788,280) (627,421) (570,061) — — (2,985,762) Construction in progress 164,073 19,691 28,984 — — 212,748 Utility property, plant and equipment, net 3,563,027 792,751 719,334 — — 5,075,112 Nonutility property, plant and equipment, less accumulated depreciation 5,301 115 1,532 — — 6,948 Total property, plant and equipment, net 3,568,328 792,866 720,866 — — 5,082,060 Investment in wholly owned subsidiaries, at equity 681,998 — — — (681,998) — Current assets Cash and cash equivalents 19,894 6,017 3,067 77 — 29,055 Restricted cash 2,140 — — — — 2,140 Advances to affiliates 5,000 — 12,800 — (17,800) — Customer accounts receivable, net 128,263 27,735 25,402 — — 181,400 Accrued unbilled revenues, net 98,511 21,235 20,259 — — 140,005 Other accounts receivable, net 15,846 5,128 4,269 — (18,203) 7,040 Fuel oil stock, at average cost 105,780 13,895 19,697 — — 139,372 Materials and supplies, at average cost 42,852 9,673 20,181 — — 72,706 Prepayments and other 29,677 4,602 5,883 — 1,253 41,415 Regulatory assets 69,638 4,877 4,360 — — 78,875 Total current assets 517,601 93,162 115,918 77 (34,750) 692,008 Other long-term assets Operating lease right-of-use assets 61,826 38,368 14,284 — — 114,478 Regulatory assets 325,063 78,877 76,346 — — 480,286 Other 128,934 18,620 19,607 — (817) 166,344 Total other long-term assets 515,823 135,865 110,237 — (817) 761,108 Total assets $ 5,283,750 1,021,893 947,021 77 (717,565) $ 6,535,176 Capitalization and liabilities Capitalization Common stock equity $ 2,276,884 336,177 345,744 77 (681,998) $ 2,276,884 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,136,739 234,413 253,447 — — 1,624,599 Total capitalization 3,435,916 577,590 604,191 77 (681,998) 3,935,776 Current liabilities Current portion of operating lease liabilities 31,078 6,370 2,510 — — 39,958 Current portion of long-term debt 39,986 11,996 — — — 51,982 Short-term borrowings from non-affiliates 6,000 — — — — 6,000 Short-term borrowings from affiliate 12,800 5,000 — — (17,800) — Accounts payable 124,463 22,175 21,551 — — 168,189 Interest and preferred dividends payable 20,057 3,687 4,414 — (4) 28,154 Taxes accrued, including revenue taxes 125,425 29,109 25,537 — 1,253 181,324 Regulatory liabilities 19,416 5,495 5,017 — — 29,928 Other 60,491 18,869 19,214 — (18,356) 80,218 Total current liabilities 439,716 102,701 78,243 — (34,907) 585,753 Deferred credits and other liabilities Operating lease liabilities 44,785 32,066 11,838 — — 88,689 Deferred income taxes 289,376 52,859 64,089 — — 406,324 Regulatory liabilities 702,745 178,224 92,547 — — 973,516 Unamortized tax credits 74,821 13,927 13,219 — — 101,967 Defined benefit pension and other postretirement benefit plans liability 216,181 47,842 52,312 — (660) 315,675 Other 80,210 16,684 30,582 — — 127,476 Total deferred credits and other liabilities 1,408,118 341,602 264,587 — (660) 2,013,647 Total capitalization and liabilities $ 5,283,750 1,021,893 947,021 77 (717,565) $ 6,535,176 Condensed Consolidating Balance Sheet December 31, 2021 (in thousands) Hawaiian Electric Hawaii Electric Light Maui Electric Other Consoli- Hawaiian Electric Assets Property, plant and equipment Utility property, plant and equipment Land $ 42,737 5,606 3,594 — — $ 51,937 Plant and equipment 5,097,033 1,390,361 1,248,589 — — 7,735,983 Less accumulated depreciation (1,757,096) (619,991) (563,430) — — (2,940,517) Construction in progress 159,854 17,129 27,586 — — 204,569 Utility property, plant and equipment, net 3,542,528 793,105 716,339 — — 5,051,972 Nonutility property, plant and equipment, less accumulated depreciation 5,302 115 1,532 — — 6,949 Total property, plant and equipment, net 3,547,830 793,220 717,871 — — 5,058,921 Investment in wholly owned subsidiaries, at equity 676,237 — — — (676,237) — Current assets Cash and cash equivalents 23,344 5,326 23,422 77 — 52,169 Restricted cash 3,089 — — — — 3,089 Advances to affiliates 1,000 — — — (1,000) — Customer accounts receivable, net 135,949 28,469 22,441 — — 186,859 Accrued unbilled revenues, net 92,469 19,529 17,157 — — 129,155 Other accounts receivable, net 18,624 3,347 3,031 — (17,735) 7,267 Fuel oil stock, at average cost 71,184 12,814 20,080 — — 104,078 Materials and supplies, at average cost 42,006 9,727 20,144 — — 71,877 Prepayments and other 32,140 6,052 7,114 — 725 46,031 Regulatory assets 58,695 3,051 4,918 — — 66,664 Total current assets 478,500 88,315 118,307 77 (18,010) 667,189 Other long-term assets Operating lease right-of-use assets 78,710 22,442 318 — — 101,470 Regulatory assets 337,903 81,645 79,331 — — 498,879 Other 130,546 17,124 18,510 — (1,014) 165,166 Total other long-term assets 547,159 121,211 98,159 — (1,014) 765,515 Total assets $ 5,249,726 1,002,746 934,337 77 (695,261) $ 6,491,625 Capitalization and liabilities Capitalization Common stock equity $ 2,261,899 332,900 343,260 77 (676,237) $ 2,261,899 Cumulative preferred stock—not subject to mandatory redemption 22,293 7,000 5,000 — — 34,293 Long-term debt, net 1,136,620 234,390 253,417 — — 1,624,427 Total capitalization 3,420,812 574,290 601,677 77 (676,237) 3,920,619 Current liabilities Current portion of operating lease liabilities 45,955 3,378 35 — — 49,368 Current portion of long-term debt 39,981 11,994 — — — 51,975 Short-term borrowings-affiliate — 1,000 — — (1,000) — Accounts payable 111,024 26,139 22,844 — — 160,007 Interest and preferred dividends payable 12,442 2,617 2,269 — (3) 17,325 Taxes accrued, including revenue taxes 143,723 33,153 30,679 — 725 208,280 Regulatory liabilities 22,240 3,247 4,273 — — 29,760 Other 56,752 14,158 18,540 — (17,881) 71,569 Total current liabilities 432,117 95,686 78,640 — (18,159) 588,284 Deferred credits and other liabilities Operating lease liabilities 46,426 19,063 291 — — 65,780 Deferred income taxes 291,027 53,298 64,309 — — 408,634 Regulatory liabilities 695,152 179,267 92,589 — — 967,008 Unamortized tax credits 76,201 14,212 13,532 — — 103,945 Defined benefit pension and other postretirement benefit plans liability 220,480 48,900 53,257 — (857) 321,780 Other 67,511 18,030 30,042 — (8) 115,575 Total deferred credits and other liabilities 1,396,797 332,770 254,020 — (865) 1,982,722 Total capitalization and liabilities $ 5,249,726 1,002,746 934,337 77 (695,261) $ 6,491,625 Balance Sheets Data (in thousands) March 31, 2022 December 31, 2021 Assets Cash and due from banks $ 114,249 $ 100,051 Interest-bearing deposits 155,279 151,189 Cash and cash equivalents 269,528 251,240 Investment securities Available-for-sale, at fair value 2,621,375 2,574,618 Held-to-maturity, at amortized cost (fair value of $466,236 and $510,474, respectively) 517,150 522,270 Stock in Federal Home Loan Bank, at cost 10,000 10,000 Loans held for investment 5,184,733 5,211,114 Allowance for credit losses (67,211) (71,130) Net loans 5,117,522 5,139,984 Loans held for sale, at lower of cost or fair value 7,961 10,404 Other 626,599 590,897 Goodwill 82,190 82,190 Total assets $ 9,252,325 $ 9,181,603 Liabilities and shareholder’s equity Deposit liabilities—noninterest-bearing $ 3,016,520 $ 2,976,632 Deposit liabilities—interest-bearing 5,272,752 5,195,580 Other borrowings 137,385 88,305 Other 210,681 193,268 Total liabilities 8,637,338 8,453,785 Common stock 1 1 Additional paid-in capital 354,635 353,895 Retained earnings 420,574 411,704 Accumulated other comprehensive loss, net of tax benefits Net unrealized losses on securities $ (152,444) $ (32,037) Retirement benefit plans (7,779) (160,223) (5,745) (37,782) Total shareholder’s equity 614,987 727,818 Total liabilities and shareholder’s equity $ 9,252,325 $ 9,181,603 Other assets Bank-owned life insurance $ 176,301 $ 177,566 Premises and equipment, net 199,949 202,299 Accrued interest receivable 21,133 20,854 Mortgage-servicing rights 10,024 9,950 Low-income housing investments 107,791 110,989 Deferred tax asset 51,720 7,699 Other 59,681 61,540 $ 626,599 $ 590,897 Other liabilities Accrued expenses $ 104,958 $ 87,905 Federal and state income taxes payable 2,174 — Cashier’s checks 36,586 33,675 Advance payments by borrowers 5,664 9,994 Other 61,299 61,694 $ 210,681 $ 193,268
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 Gross unrealized losses Less than 12 months 12 months or longer (dollars in thousands) Number of issues Fair Amount Number of issues Fair Amount March 31, 2022 Available-for-sale U.S. Treasury and federal agency obligations $ 109,343 $ 75 $ (3,216) $ 106,202 16 $ 91,087 $ (3,216) — $ — $ — Mortgage-backed securities* 2,660,506 277 (204,029) 2,456,754 165 1,484,883 (97,460) 64 904,628 (106,569) Corporate bonds 44,481 101 (1,459) 43,123 3 34,014 (1,459) — — — Mortgage revenue bonds 15,296 — — 15,296 — — — — — — $ 2,829,626 $ 453 $ (208,704) $ 2,621,375 184 $ 1,609,984 $ (102,135) 64 $ 904,628 $ (106,569) Held-to-maturity U.S. Treasury and Federal agency obligations $ 59,877 $ — $ (3,831) $ 56,046 3 $ 56,046 $ (3,831) — $ — $ — Mortgage-backed securities* 457,273 76 (47,159) 410,190 23 246,986 (23,964) 13 158,370 (23,195) $ 517,150 $ 76 $ (50,990) $ 466,236 26 $ 303,032 $ (27,795) 13 $ 158,370 $ (23,195) December 31, 2021 Available-for-sale U.S. Treasury and federal agency obligations $ 89,714 $ 803 $ (427) $ 90,090 4 $ 44,827 $ (427) — $ — $ — Mortgage-backed securities* 2,482,618 6,511 (51,206) 2,437,923 120 1,845,243 (38,321) 18 271,012 (12,885) Corporate bonds 30,625 655 (102) 31,178 1 12,780 (102) — — — Mortgage revenue bonds 15,427 — — 15,427 — — — — — — $ 2,618,384 $ 7,969 $ (51,735) $ 2,574,618 125 $ 1,902,850 $ (38,850) 18 $ 271,012 $ (12,885) Held-to-maturity U.S. Treasury and Federal agency obligations $ 59,871 $ 168 $ (170) $ 59,869 2 $ 39,594 $ (170) — $ — $ — Mortgage-backed securities* 462,399 1,480 (13,274) 450,605 22 290,883 (7,665) 7 106,483 (5,609) $ 522,270 $ 1,648 $ (13,444) $ 510,474 24 $ 330,477 $ (7,835) 7 $ 106,483 $ (5,609) * Issued or guaranteed by U.S. Government agencies or sponsored agencies
Schedule of contractual maturities of available-for-sale securities	The contractual maturities of investment securities were as follows: March 31, 2022 Amortized cost Fair value (in thousands) Available-for-sale Due in one year or less $ 15,821 $ 15,890 Due after one year through five years 81,524 79,931 Due after five years through ten years 71,775 68,800 Due after ten years — — 169,120 164,621 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 2,660,506 2,456,754 Total available-for-sale securities $ 2,829,626 $ 2,621,375 Held-to-maturity Due in one year or less $ — $ — Due after one year through five years — — Due after five years through ten years 59,877 56,046 Due after ten years — — 59,877 56,046 Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies 457,273 410,190 Total held-to-maturity securities $ 517,150 $ 466,236
Schedule of proceeds, gross gains and losses from sales of available-for-sale securities	The proceeds, gross gains and losses from sales of available-for-sale securities were as follows: Three months ended March 31 2022 2021 (in thousands) Proceeds $ — $ 197,354 Gross gains — 974 Gross losses — 446 Tax expense on realized gains — 142
Schedule of components of loans receivable	The components of loans were summarized as follows: March 31, 2022 December 31, 2021 (in thousands) Real estate: Residential 1-4 family $ 2,279,671 $ 2,299,212 Commercial real estate 1,115,632 1,056,982 Home equity line of credit 845,271 835,663 Residential land 22,309 19,859 Commercial construction 90,332 91,080 Residential construction 15,508 11,138 Total real estate 4,368,723 4,313,934 Commercial 708,447 793,304 Consumer 116,090 113,966 Total loans 5,193,260 5,221,204 Less: Deferred fees and discounts (8,527) (10,090) Allowance for credit losses (67,211) (71,130) Total loans, net $ 5,117,522 $ 5,139,984
Schedule of allowance for credit losses	The allowance for credit losses (balances and changes) by portfolio segment were as follows: (in thousands) Residential Commercial real Home Residential land Commercial construction Residential construction Commercial loans Consumer loans Total Three months ended March 31, 2022 Allowance for credit losses: Beginning balance $ 6,545 $ 24,696 $ 5,657 $ 646 $ 2,186 $ 18 $ 15,798 $ 15,584 $ 71,130 Charge-offs — — — — — — (76) (1,482) (1,558) Recoveries 8 — 11 5 — — 353 1,025 1,402 Provision 1,321 (4,520) (18) 46 154 13 (1,761) 1,002 (3,763) Ending balance $ 7,874 $ 20,176 $ 5,650 $ 697 $ 2,340 $ 31 $ 14,314 $ 16,129 $ 67,211 Three months ended March 31, 2021 Allowance for credit losses: Beginning balance $ 4,600 $ 35,607 $ 6,813 $ 609 $ 4,149 $ 11 $ 25,462 $ 23,950 $ 101,201 Charge-offs — — (50) — — — (771) (2,860) (3,681) Recoveries 3 — 15 10 — — 273 1,007 1,308 Provision 658 (1,262) (877) (46) (2,696) 5 (460) (2,357) (7,035) Ending balance $ 5,261 $ 34,345 $ 5,901 $ 573 $ 1,453 $ 16 $ 24,504 $ 19,740 $ 91,793
Schedule of allowance for loan commitments	The allowance for loan commitments by portfolio segment were as follows: (in thousands) Home equity Commercial construction Commercial loans Total Three months ended March 31, 2022 Allowance for loan commitments: Beginning balance $ 400 $ 3,700 $ 800 $ 4,900 Provision — (100) 600 500 Ending balance $ 400 $ 3,600 $ 1,400 $ 5,400 Three months ended March 31, 2021 Allowance for loan commitments: Beginning balance $ 300 $ 3,000 $ 1,000 $ 4,300 Provision 100 (1,700) 200 (1,400) Ending balance $ 400 $ 1,300 $ 1,200 $ 2,900
Schedule of credit risk profile by internally assigned grade for loans	The credit risk profile by vintage date based on payment activity or internally assigned grade for loans was as follows: Term Loans by Origination Year Revolving Loans (in thousands) 2022 2021 2020 2019 2018 Prior Revolving Converted to term loans Total March 31, 2022 Residential 1-4 family Current $ 77,374 $ 779,764 $ 448,738 $ 125,136 $ 58,967 $ 781,055 $ — $ — $ 2,271,034 30-59 days past due — — — — — 1,920 — — 1,920 60-89 days past due — — — — — 2,414 — — 2,414 Greater than 89 days past due — — — — 809 3,494 — — 4,303 77,374 779,764 448,738 125,136 59,776 788,883 — — 2,279,671 Home equity line of credit Current — — — — — — 803,515 39,683 843,198 30-59 days past due — — — — — — 457 512 969 60-89 days past due — — — — — — 64 — 64 Greater than 89 days past due — — — — — — 745 295 1,040 — — — — — — 804,781 40,490 845,271 Residential land Current 2,703 10,550 6,725 958 530 446 — — 21,912 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — 397 — — 397 2,703 10,550 6,725 958 530 843 — — 22,309 Residential construction Current 2,423 10,493 2,336 — — 256 — — 15,508 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 2,423 10,493 2,336 — — 256 — — 15,508 Consumer Current 22,938 32,765 12,643 22,292 6,434 318 11,886 4,163 113,439 30-59 days past due 185 187 126 377 170 2 96 35 1,178 60-89 days past due — 56 115 278 97 4 23 48 621 Greater than 89 days past due — 43 55 253 200 9 111 181 852 23,123 33,051 12,939 23,200 6,901 333 12,116 4,427 116,090 Commercial real estate Pass 72,390 171,541 292,533 53,006 61,639 296,669 4,235 — 952,013 Special Mention — 19,600 3,508 41,925 14,250 43,372 — — 122,655 Substandard — — 678 11,238 1,847 27,201 — — 40,964 Doubtful — — — — — — — — — 72,390 191,141 296,719 106,169 77,736 367,242 4,235 — 1,115,632 Commercial construction Pass 119 22,614 32,846 — 11,341 — 23,412 — 90,332 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 119 22,614 32,846 — 11,341 — 23,412 — 90,332 Commercial Pass 8,521 234,161 83,927 75,241 46,058 89,119 89,919 14,951 641,897 Special Mention — 31 10,012 9,540 117 7,680 18,364 17 45,761 Substandard — 423 173 3,110 1,686 6,759 7,326 1,312 20,789 Doubtful — — — — — — — — — 8,521 234,615 94,112 87,891 47,861 103,558 115,609 16,280 708,447 Total loans $ 186,653 $ 1,282,228 $ 894,415 $ 343,354 $ 204,145 $ 1,261,115 $ 960,153 $ 61,197 $ 5,193,260 Term Loans by Origination Year Revolving Loans (in thousands) 2021 2020 2019 2018 2017 Prior Revolving Converted to term loans Total December 31, 2021 Residential 1-4 family Current $ 791,758 $ 461,683 $ 133,345 $ 64,421 $ 124,994 $ 712,452 $ — $ — $ 2,288,653 30-59 days past due — — — 809 — 2,210 — — 3,019 60-89 days past due — — — — — 1,468 — — 1,468 Greater than 89 days past due — — 2,987 — — 3,085 — — 6,072 791,758 461,683 136,332 65,230 124,994 719,215 — — 2,299,212 Home equity line of credit Current — — — — — — 794,518 39,116 833,634 30-59 days past due — — — — — — 296 313 609 60-89 days past due — — — — — — 16 70 86 Greater than 89 days past due — — — — — — 838 496 1,334 — — — — — — 795,668 39,995 835,663 Residential land Current 10,572 6,794 1,116 532 267 181 — — 19,462 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — 397 — — 397 10,572 6,794 1,116 532 267 578 — — 19,859 Residential construction Current 7,856 3,019 — — 263 — — — 11,138 30-59 days past due — — — — — — — — — 60-89 days past due — — — — — — — — — Greater than 89 days past due — — — — — — — — — 7,856 3,019 — — 263 — — — 11,138 Consumer Current 37,563 15,488 29,383 10,897 302 238 12,740 4,157 110,768 30-59 days past due 202 181 517 234 15 — 156 70 1,375 60-89 days past due 59 127 392 183 8 — 7 106 882 Greater than 89 days past due 14 93 387 192 27 — 141 87 941 37,838 15,889 30,679 11,506 352 238 13,044 4,420 113,966 Commercial real estate Pass 173,794 275,242 49,317 56,490 33,581 259,583 11,602 — 859,609 Special Mention 19,600 3,529 42,935 30,870 20,788 32,824 — — 150,546 Substandard — 684 13,936 1,859 1,805 28,543 — — 46,827 Doubtful — — — — — — — — — 193,394 279,455 106,188 89,219 56,174 320,950 11,602 — 1,056,982 Commercial construction Pass 17,140 43,261 — 11,342 — — 19,337 — 91,080 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — 17,140 43,261 — 11,342 — — 19,337 — 91,080 Commercial Pass 266,087 96,963 79,329 56,497 31,019 66,570 96,673 15,510 708,648 Special Mention 40 27,336 10,071 202 439 8,966 15,303 18 62,375 Substandard 427 184 3,737 1,777 4,457 2,961 7,083 1,655 22,281 Doubtful — — — — — — — — — 266,554 124,483 93,137 58,476 35,915 78,497 119,059 17,183 793,304 Total loans $ 1,325,112 $ 934,584 $ 367,452 $ 236,305 $ 217,965 $ 1,119,478 $ 958,710 $ 61,598 $ 5,221,204
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 60-89 Total Current Total Amortized cost> March 31, 2022 Real estate: Residential 1-4 family $ 1,920 $ 2,414 $ 4,303 $ 8,637 $ 2,271,034 $ 2,279,671 $ — Commercial real estate — — — — 1,115,632 1,115,632 — Home equity line of credit 969 64 1,040 2,073 843,198 845,271 — Residential land — — 397 397 21,912 22,309 — Commercial construction — — — — 90,332 90,332 — Residential construction — — — — 15,508 15,508 — Commercial 200 139 40 379 708,068 708,447 — Consumer 1,178 621 852 2,651 113,439 116,090 — Total loans $ 4,267 $ 3,238 $ 6,632 $ 14,137 $ 5,179,123 $ 5,193,260 $ — December 31, 2021 Real estate: Residential 1-4 family $ 3,019 $ 1,468 $ 6,072 $ 10,559 $ 2,288,653 $ 2,299,212 $ — Commercial real estate — — — — 1,056,982 1,056,982 — Home equity line of credit 609 86 1,334 2,029 833,634 835,663 — Residential land — — 397 397 19,462 19,859 — Commercial construction — — — — 91,080 91,080 — Residential construction — — — — 11,138 11,138 — Commercial 700 313 48 1,061 792,243 793,304 — Consumer 1,375 882 941 3,198 110,768 113,966 — Total loans $ 5,703 $ 2,749 $ 8,792 $ 17,244 $ 5,203,960 $ 5,221,204 $ —
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 were as follows: (in thousands) March 31, 2022 December 31, 2021 With a Related ACL Without a Related ACL Total With a Related ACL Without a Related ACL Total Real estate: Residential 1-4 family $ 12,583 $ 3,909 $ 16,492 $ 16,045 $ 3,703 $ 19,748 Commercial real estate — 12,530 12,530 14,104 1,221 15,325 Home equity line of credit 3,371 1,054 4,425 4,227 1,294 5,521 Residential land — 397 397 97 300 397 Commercial construction — — — — — — Residential construction — — — — — — Commercial 1,307 562 1,869 1,446 692 2,138 Consumer 1,555 — 1,555 1,845 — 1,845 Total $ 18,816 $ 18,452 $ 37,268 $ 37,764 $ 7,210 $ 44,974 The credit risk profile based on loans whose terms have been modified and accruing interest were as follows: (in thousands) March 31, 2022 December 31, 2021 Real estate: Residential 1-4 family $ 7,296 $ 6,949 Commercial real estate 2,888 3,055 Home equity line of credit 5,437 6,021 Residential land 976 980 Commercial construction — — Residential construction — — Commercial 7,079 7,860 Consumer 52 52 Total troubled debt restructured loans accruing interest $ 23,728 $ 24,917
Schedule of loan modifications	Loan modifications that occurred during the three months ended March 31, 2021 were as follows: Three months ended March 31, 2021 (dollars in thousands) Number Outstanding recorded investment (as of period end) 1 Related allowance (as of period end) Troubled debt restructurings Real estate: Residential 1-4 family 12 $ 8,283 $ 298 Commercial real estate 1 482 — Home equity line of credit 1 170 21 Residential land 1 271 11 Commercial construction — — — Residential construction — — — Commercial 2 59 19 Consumer — — — 17 $ 9,265 $ 349 1 The period end balances reflect all paydowns and charge-offs since the modification period. TDRs fully paid off, charged-off, or foreclosed upon by period end are not included.
Schedule of collateral-dependent loans	Loans considered collateral-dependent were as follows: Amortized cost (in thousands) March 31, 2022 December 31, 2021 Collateral type Real estate: Residential 1-4 family $ 4,500 $ 3,493 Residential real estate property Commercial real estate 1,200 1,221 Commercial real estate property Home equity line of credit 1,034 1,294 Residential real estate property Residential land 397 300 Residential real estate property Total real estate 7,131 6,308 Commercial 562 692 Business assets Total $ 7,693 $ 7,000
Schedule of amortized intangible assets	Changes in the carrying value of MSRs were as follows: (in thousands) Gross Accumulated amortization Valuation allowance Net March 31, 2022 $ 19,137 $ (9,113) $ — $ 10,024 December 31, 2021 18,674 (8,724) — 9,950 Changes related to MSRs were as follows: Three months ended March 31 (in thousands) 2022 2021 Mortgage servicing rights Beginning balance $ 9,950 $ 10,280 Amount capitalized 719 1,547 Amortization (645) (1,138) Other-than-temporary impairment — — Carrying amount before valuation allowance 10,024 10,689 Valuation allowance for mortgage servicing rights Beginning balance — 260 Provision — (256) Other-than-temporary impairment — — Ending balance — 4 Net carrying value of mortgage servicing rights $ 10,024 $ 10,685
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) March 31, 2022 December 31, 2021 Unpaid principal balance $ 1,488,591 $ 1,481,899 Weighted average note rate 3.34 % 3.38 % Weighted average discount rate 9.25 % 9.25 % Weighted average prepayment speed 7.06 % 9.77 %
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) March 31, 2022 December 31, 2021 Prepayment rate: 25 basis points adverse rate change $ (360) $ (714) 50 basis points adverse rate change (809) (1,608) Discount rate: 25 basis points adverse rate change (160) (129) 50 basis points adverse rate change (318) (256)
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 Gross amount Net amount of Repurchase agreements March 31, 2022 $ 137 $ — $ 137 December 31, 2021 88 — 88 Gross amount not offset in the Balance Sheets (in millions) Net amount of liabilities presented Financial Cash Commercial account holders March 31, 2022 $ 137 $ 161 $ — December 31, 2021 88 161 —
Schedule of notional and fair value of derivatives	The notional amount and fair value of ASB’s derivative financial instruments were as follows: March 31, 2022 December 31, 2021 (in thousands) Notional amount Fair value Notional amount Fair value Interest rate lock commitments $ 12,342 $ (18) $ 39,377 $ 638 Forward commitments 11,750 168 38,000 (11)
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 March 31, 2022 December 31, 2021 (in thousands) Asset derivatives Liability Asset derivatives Liability Interest rate lock commitments $ 40 $ 58 $ 638 $ — Forward commitments 168 — — 11 $ 208 $ 58 $ 638 $ 11 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 Statements of Income Three months ended March 31 (in thousands) 2022 2021 Interest rate lock commitments Mortgage banking income $ (655) $ (4,098) Forward commitments Mortgage banking income 178 840 $ (477) $ (3,258)

Shareholders' equity (Tables)

Shareholders' equity (Tables)	3 Months Ended
	Mar. 31, 2022
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 AOCI-Retirement benefit plans Balance, December 31, 2021 $ (32,037) $ (3,638) $ (16,858) $ (52,533) $ (3,280) Current period other comprehensive income (loss) (120,407) 3,072 176 (117,159) 51 Balance, March 31, 2022 $ (152,444) $ (566) $ (16,682) $ (169,692) $ (3,229) Balance, December 31, 2020 $ 19,986 $ (3,363) $ (17,887) $ (1,264) $ (2,919) Current period other comprehensive income (loss) (45,777) 1,562 199 (44,016) 34 Balance, March 31, 2021 $ (25,791) $ (1,801) $ (17,688) $ (45,280) $ (2,885)
Schedule of reclassifications out of accumulated other comprehensive income/(loss)	Reclassifications out of AOCI were as follows: Amount reclassified from AOCI Affected line item in the Three months ended March 31 (in thousands) 2022 2021 HEI consolidated Net realized gains on securities included in net income $ — $ (387) Gain on sale of investment securities, net Net realized losses on derivatives qualifying as cash flow hedges 55 — Interest expense Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost 4,501 6,010 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (4,325) (5,811) See Note 8 for additional details Total reclassifications $ 231 $ (188) Hawaiian Electric consolidated Retirement benefit plans: Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost $ 4,376 $ 5,845 See Note 8 for additional details Impact of D&Os of the PUC included in regulatory assets (4,325) (5,811) See Note 8 for additional details Total reclassifications $ 51 $ 34

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The following tables disaggregate revenues by major source, timing of revenue recognition, and segment: Three months ended March 31, 2022 (in thousands) Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 224,574 $ — $ — $ 224,574 Electric energy sales - commercial 219,597 — — 219,597 Electric energy sales - large light and power 241,123 — — 241,123 Electric energy sales - other 1,426 — — 1,426 Bank fees — 12,996 — 12,996 Other sales — — 1,115 1,115 Total revenues from contracts with customers 686,720 12,996 1,115 700,831 Revenues from other sources Regulatory revenue $ 12,886 $ — $ — $ 12,886 Bank interest and dividend income — 59,989 — 59,989 Other bank noninterest income — 2,130 — 2,130 Other 9,186 — 46 9,232 Total revenues from other sources 22,072 62,119 46 84,237 Total revenues $ 708,792 $ 75,115 $ 1,161 $ 785,068 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 12,996 $ — $ 12,996 Services/goods transferred over time 686,720 — 1,115 687,835 Total revenues from contracts with customers $ 686,720 $ 12,996 $ 1,115 $ 700,831 Three months ended March 31, 2021 (in thousands) Electric utility Bank Other Total Revenues from contracts with customers Electric energy sales - residential $ 181,239 $ — $ — $ 181,239 Electric energy sales - commercial 168,465 — — 168,465 Electric energy sales - large light and power 176,815 — — 176,815 Electric energy sales - other 2,479 — — 2,479 Bank fees — 11,378 — 11,378 Other sales — — 924 924 Total revenues from contracts with customers 528,998 11,378 924 541,300 Revenues from other sources Regulatory revenue 28,429 — — 28,429 Bank interest and dividend income — 58,620 — 58,620 Other bank noninterest income — 7,133 — 7,133 Other 7,437 — 27 7,464 Total revenues from other sources 35,866 65,753 27 101,646 Total revenues $ 564,864 $ 77,131 $ 951 $ 642,946 Timing of revenue recognition Services/goods transferred at a point in time $ — $ 11,378 $ — $ 11,378 Services/goods transferred over time 528,998 — 924 529,922 Total revenues from contracts with customers $ 528,998 $ 11,378 $ 924 $ 541,300

Retirement benefits (Tables)

Retirement benefits (Tables)	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Schedule of components of net periodic benefit cost for consolidated HEI	The components of net periodic pension costs (NPPC) and net periodic benefit costs (NPBC) for HEI consolidated and Hawaiian Electric consolidated were as follows: Three months ended March 31 Pension benefits Other benefits (in thousands) 2022 2021 2022 2021 HEI consolidated Service cost $ 19,824 $ 20,464 $ 656 $ 705 Interest cost 19,811 18,801 1,637 1,569 Expected return on plan assets (35,333) (33,067) (3,397) (3,233) Amortization of net prior period gain — — (232) (383) Amortization of net actuarial (gain)/losses 1 6,297 1,556 (3) 254 Net periodic pension/benefit cost (return) 10,599 7,754 (1,339) (1,088) Impact of PUC D&Os 9,551 11,167 1,219 970 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 20,150 $ 18,921 $ (120) $ (118) Hawaiian Electric consolidated Service cost $ 19,318 $ 19,994 $ 649 $ 699 Interest cost 18,462 17,531 1,573 1,504 Expected return on plan assets (33,546) (31,368) (3,347) (3,182) Amortization of net prior period gain — — (231) (383) Amortization of net actuarial losses 1 6,125 2,559 — 250 Net periodic pension/benefit cost (return) 10,359 8,716 (1,356) (1,112) Impact of PUC D&Os 9,551 11,167 1,219 970 Net periodic pension/benefit cost (adjusted for impact of PUC D&Os) $ 19,910 $ 19,883 $ (137) $ (142) 1 Three months ended March 31, 2021 amounts include the one-time cumulative impact of the change in accounting principle for the plans’ fixed income securities from the calculated market-related value method to the fair value method, which was recorded in the first quarter of 2021.

Share-based compensation (Table

Share-based compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [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 March 31 (in millions) 2022 2021 HEI consolidated Share-based compensation expense 1 $ 2.1 $ 2.6 Income tax benefit 0.3 0.4 Hawaiian Electric consolidated Share-based compensation expense 1 0.6 1.1 Income tax benefit 0.1 0.3 1 For the three months ended March 31, 2022 and 2021, the Company has not capitalized any share-based compensation.
Schedule of restricted stock units	Information about HEI’s grants of restricted stock units was as follows: Three months ended March 31 2022 2021 Shares (1) Shares (1) Outstanding, beginning of period 233,448 $ 38.10 193,939 $ 40.89 Granted 96,455 41.29 127,598 33.98 Vested (90,380) 37.58 (78,988) 38.51 Forfeited (31,178) 38.78 (6,358) 42.20 Outstanding, end of period 208,345 $ 39.71 236,191 $ 37.91 Total weighted-average grant-date fair value of shares granted (in millions) $ 4.0 $ 4.3
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 March 31 2022 2021 Shares (1) Shares (1) Outstanding, beginning of period 90,974 $ 42.86 89,222 $ 42.10 Granted 26,079 54.92 44,210 41.12 Vested (issued or unissued and cancelled) (29,042) 41.07 (32,355) 38.20 Forfeited (11,671) 42.60 (1,024) 45.89 Outstanding, end of period 76,340 $ 47.70 100,053 $ 42.89 Total weighted-average grant-date fair value of shares granted (in millions) $ 1.4 $ 1.8
Schedule of Long-Term Incentive Plan assumptions	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: 2022 2021 Risk-free interest rate 1.71 % 0.19 % Expected life in years 3 3 Expected volatility 31.0 % 29.9 % Range of expected volatility for Peer Group 25.4% to 76.7% 25.6% to 102.9% Grant date fair value (per share) $54.92 $41.12
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 March 31 2022 2021 Shares (1) Shares (1) Outstanding, beginning of period 306,342 $ 38.42 220,715 $ 41.03 Granted 104,300 41.29 176,844 33.98 Vested (71,807) 37.68 (43,155) 34.12 Increase above target (cancelled) — — (14,604) 43.90 Forfeited (46,684) 36.77 (4,098) 44.36 Outstanding, end of period 292,151 $ 39.89 335,702 $ 38.04 Total weighted-average grant-date fair value of shares granted (at target performance levels) (in millions) $ 4.3 $ 6.0

Cash flows (Tables)

Cash flows (Tables)	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental disclosures of cash and noncash activity	Three months ended March 31 2022 2021 (in millions) Supplemental disclosures of cash flow information HEI consolidated Interest paid to non-affiliates, net of amounts capitalized $ 10 $ 15 Hawaiian Electric consolidated Interest paid to non-affiliates 6 9 Supplemental disclosures of noncash activities HEI consolidated Property, plant and equipment Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 24 28 Increase related to an acquisition (investing) 15 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 35 28 Common stock issued (gross) for director and executive/management compensation (financing) 1 8 6 Unsettled trades to purchase investment securities (investing) 25 — Other receivable related to pending sales proceeds from the sale of an equity-method investment (investing) 9 — Hawaiian Electric consolidated Electric utility property, plant and equipment Unpaid invoices and accruals for capital expenditures, balance, end of period (investing) 21 24 Increase related to an acquisition (investing) 15 — Right-of-use assets obtained in exchange for operating lease obligations (investing) 32 28 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)	3 Months Ended
	Mar. 31, 2022
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. Estimated fair value (in thousands) Carrying or notional amount Quoted prices in Significant Significant Total March 31, 2022 Financial assets HEI consolidated Available-for-sale investment securities $ 2,621,375 $ — $ 2,606,079 $ 15,296 $ 2,621,375 Held-to-maturity investment securities 517,150 — 466,236 — 466,236 Loans, net 5,125,483 — 7,932 5,014,000 5,021,932 Mortgage servicing rights 10,024 — — 16,274 16,274 Derivative assets 30,043 168 824 — 992 Financial liabilities HEI consolidated Deposit liabilities 394,015 — 386,547 — 386,547 Short-term borrowings—other than bank 71,491 — 71,491 — 71,491 Other bank borrowings 137,385 — 137,383 — 137,383 Long-term debt, net—other than bank 2,316,046 — 2,390,702 — 2,390,702 Derivative liabilities 31,049 — 1,704 — 1,704 Hawaiian Electric consolidated Short-term borrowings 6,000 — 6,000 — 6,000 Long-term debt, net 1,676,581 — 1,765,004 — 1,765,004 December 31, 2021 Financial assets HEI consolidated Available-for-sale investment securities $ 2,574,618 $ — $ 2,559,191 $ 15,427 $ 2,574,618 Held-to-maturity investment securities 522,270 — 510,474 — 510,474 Loans, net 5,150,388 — 10,403 5,218,121 5,228,524 Mortgage servicing rights 9,950 — — 14,480 14,480 Derivative assets 57,377 — 909 — 909 Financial liabilities HEI consolidated Deposit liabilities 423,976 — 442,361 — 442,361 Short-term borrowings—other than bank 53,998 — 53,998 — 53,998 Other bank borrowings 88,305 — 88,304 — 88,304 Long-term debt, net—other than bank 2,321,937 — 2,624,130 — 2,624,130 Derivative liabilities 57,000 11 5,271 — 5,282 Hawaiian Electric consolidated Long-term debt, net 1,676,402 — 1,955,710 — 1,955,710
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: March 31, 2022 December 31, 2021 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-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies $ — $ 2,456,754 $ — $ — $ 2,437,923 $ — U.S. Treasury and federal agency obligations — 106,202 — — 90,090 — Corporate bonds — 43,123 — — 31,178 — Mortgage revenue bonds — — 15,296 — — 15,427 $ — $ 2,606,079 $ 15,296 $ — $ 2,559,191 $ 15,427 Derivative assets Interest rate lock commitments (bank segment) 1 $ — $ 40 $ — $ — $ 638 $ — Forward commitments (bank segment) 1 168 — — — — — Interest rate swap (Other segment) 2 — 784 — — 271 — $ 168 $ 824 $ — $ — $ 909 $ — Derivative liabilities Interest rate lock commitments (bank segment) 1 $ — $ 58 $ — $ — $ — $ — Forward commitments (bank segment) 1 — — — 11 — — Interest rate swap (Other segment) 2 — 1,646 — — 5,271 — $ — $ 1,704 $ — $ 11 $ 5,271 $ — 1 Derivatives are carried at fair value in other assets or other liabilities in the balance sheets with changes in value included in mortgage banking income. 2 Derivatives are included in other assets and other 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 March 31 Mortgage revenue bonds 2022 2021 (in thousands) Beginning balance $ 15,427 $ 27,185 Principal payments received (131) (11,758) Purchases — — Unrealized gain (loss) included in other comprehensive income — — Ending balance $ 15,296 $ 15,427

Segment financial information_2

Segment financial information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment financial information
Revenues	$ 785,068	$ 642,946
Income (loss) before income taxes	87,480	80,196
Income taxes (benefit)	17,840	15,365
Net income attributable to Hawaiian Electric	69,640	64,831
Preferred stock dividends of Hawaiian Electric	473	473
Net income for common stock	69,167	64,358
Total assets	15,908,429		$ 15,822,637
Revenues from external customers
Segment financial information
Revenues	785,068	642,946
Intersegment revenues (eliminations)
Segment financial information
Revenues	0	0
Electric utility
Segment financial information
Revenues	708,792	564,864
Income (loss) before income taxes	59,446	55,090
Income taxes (benefit)	12,538	11,233
Net income attributable to Hawaiian Electric	46,908	43,857
Preferred stock dividends of Hawaiian Electric	499	499
Net income for common stock	46,409	43,358
Total assets	6,535,176		6,491,625
Electric utility | Revenues from external customers
Segment financial information
Revenues	708,788	564,855
Electric utility | Intersegment revenues (eliminations)
Segment financial information
Revenues	4	9
Bank
Segment financial information
Revenues	75,115	77,131
Income (loss) before income taxes	30,215	37,102
Income taxes (benefit)	6,345	7,546
Net income attributable to Hawaiian Electric	23,870	29,556
Preferred stock dividends of Hawaiian Electric	0	0
Net income for common stock	23,870	29,556
Total assets	9,252,325		9,181,603
Bank | Revenues from external customers
Segment financial information
Revenues	75,115	77,131
Bank | Intersegment revenues (eliminations)
Segment financial information
Revenues	0	0
Other
Segment financial information
Revenues	1,161	951
Income (loss) before income taxes	(2,181)	(11,996)
Income taxes (benefit)	(1,043)	(3,414)
Net income attributable to Hawaiian Electric	(1,138)	(8,582)
Preferred stock dividends of Hawaiian Electric	(26)	(26)
Net income for common stock	(1,112)	(8,556)
Total assets	120,928		$ 149,409
Other | Revenues from external customers
Segment financial information
Revenues	1,165	960
Other | Intersegment revenues (eliminations)
Segment financial information
Revenues	$ (4)	$ (9)

Electric utility segment - Unco

Electric utility segment - Unconsolidated variable interest entities (Details)	3 Months Ended
	Mar. 31, 2022entityagreement	Jun. 30, 2021MW	Mar. 31, 2021MW
Power purchase agreement
Number of IPPs (in entities) | entity	3
Puna Geothermal Venture Power Purchase Agreement
Power purchase agreement
Firm capacity volume (in megawatts) | MW		23.9	13
Hawaiian Electric Company
Power purchase agreement
Number of power purchase agreements (PPAs) (in agreements) | agreement	5

Electric utility segment - Powe

Electric utility segment - Power purchase agreements (Details) $ in Thousands	Aug. 23, 2021	Jan. 31, 2022USD ($)	Oct. 31, 2021	Jul. 31, 2018MW	May 31, 2012MW	Mar. 31, 1988MW	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 1988MW	Dec. 31, 2021USD ($)
Regulatory Projects and Legal Obligations [Line Items]
Operating lease liabilities							$ 151,832			$ 136,760
Kalaeloa
Regulatory Projects and Legal Obligations [Line Items]
Purchase commitment, extension period			10 years
Purchase commitment, price increase percentage							62.00%
AES Hawaii
Regulatory Projects and Legal Obligations [Line Items]
Purchase commitment, period (in years)						30 years
Minimum power volume required (in megawatts) | MW						180
Hu Honua Bioenergy, LLC
Regulatory Projects and Legal Obligations [Line Items]
Minimum power volume required (in megawatts) | MW					21.5
Molokai New Energy Partners
Regulatory Projects and Legal Obligations [Line Items]
Total contracted PV capacity (in megawatts) | MW				4.88
Total contracted battery energy storage system capacity | MW				3
Maximum power volume to be delivered (in megawatts) | MW				2.64
Sause Bros., Inc.
Regulatory Projects and Legal Obligations [Line Items]
Purchase commitment, period (in years)	5 years
Annual base rent		$ 6,200
Operating lease liabilities		$ 32,000
Hawaiian Electric, Parent
Regulatory Projects and Legal Obligations [Line Items]
Purchased power							$ 164,000	$ 142,000
Hawaiian Electric, Parent | Kalaeloa
Regulatory Projects and Legal Obligations [Line Items]
Purchased power							60,000	37,000
Increased power purchase commitment capacity (in megawatts) | MW									208
Hawaiian Electric, Parent | AES Hawaii
Regulatory Projects and Legal Obligations [Line Items]
Purchased power							27,000	30,000
Hawaiian Electric, Parent | HPOWER
Regulatory Projects and Legal Obligations [Line Items]
Purchased power							19,000	17,000
Hawaiian Electric, Parent | Hamakua Energy
Regulatory Projects and Legal Obligations [Line Items]
Purchased power							16,000	11,000
Hawaiian Electric, Parent | Puna Geothermal Venture
Regulatory Projects and Legal Obligations [Line Items]
Purchased power							10,000	4,000
Hawaiian Electric, Parent | Wind IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power							18,000	29,000
Hawaiian Electric, Parent | Solar IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power							13,000	12,000
Hawaiian Electric, Parent | Other IPPs
Regulatory Projects and Legal Obligations [Line Items]
Purchased power							$ 1,000	$ 2,000

Electric utility segment - Util

Electric utility segment - Utility projects (Details) - USD ($) $ in Millions	Jun. 10, 2019	Mar. 31, 2022	Oct. 31, 2018
ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
ERP/EAM project service period (in years)	12 years
Future O&M expense reductions	$ 150
Future cost avoidance related to capital cost and tax costs	$ 96
Hawaiian Electric Company, Inc. and Subsidiaries | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
ERP/EAM project service period (in years)		12 years
ERP/EAM project service, savings over 12 years			$ 246
Regulatory liability for O&M expense reductions		$ 9.1
Hawaiian Electric, Parent | PCB Contamination
Public Utilities, General Disclosures [Line Items]
Valuation allowances and reserves		10.1
Hawaiian Electric, Parent | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
Regulatory liability for O&M expense reductions		5.1
HELCO | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
Regulatory liability for O&M expense reductions		1.6
Maui Electric
Public Utilities, General Disclosures [Line Items]
Additional accrued investigation and estimated cleanup costs		2.7
Maui Electric | ERP/EAM Implementation Project
Public Utilities, General Disclosures [Line Items]
Regulatory liability for O&M expense reductions		$ 2.4
Regulatory liability, amortization period		5 years

Electric utility segment - Regu

Electric utility segment - Regulatory proceedings (Details) $ in Millions

Mar. 31, 2022USD ($)projectcontract

Nov. 12, 2021

Feb. 16, 2021agreement

Dec. 23, 2020USD ($)

Mar. 31, 2022USD ($)MWhprojectcontract

Nov. 30, 2021agreement

Dec. 31, 2021USD ($)

Dec. 31, 2019USD ($)agreement

Feb. 28, 2022USD ($)

Jun. 01, 2021mechanism

Mar. 23, 2021mechanism

Jul. 09, 2020entity

Regulatory Projects and Legal Obligations [Line Items]

Propose pilots annual cap

$ 10

Potential total annual maximum reward

$ 2

$ 2

Advanced metering infrastructure term

3 years

Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

Multi-year rate period

5 years

Customer dividend, negative adjustment percentage

0.22%

Savings commitment liability, annual rate

$ 6.6

Earnings sharing mechanism, actual return on equity, dead band percentage above or below target

3.00%

Approved return on equity, percentage

9.50%

Earnings sharing mechanism, actual earning, above or below dead band

1.50%

MPIR requested amount

$ 25.9

EPRM approved projects | contract

2

2

EPRM approved projects, capital costs

$ 41

Number of projects | project

5

5

Estimated capital costs

$ 264

Development period

3 years

2021 deferred costs to be reviewed by the PUC

$ 0.1

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

$ 6.8

Service reliability, estimated penalties

$ 0.2

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

$ 1.4

Number of power purchase agreements (PPAs) (in agreements) | agreement

1

7

Incentives accrued

$ 0.1

$ 1.7

Number of grid service purchase agreements | entity

2

Number of PPAs approved | agreement

2

Number of performance incentive mechanisms | mechanism

3

2

Interpolated RPS rate goal, year one and two (dollars per MWh) | MWh

20

Interpolated RPS rate goal, year three (dollars per MWh) | MWh

15

Interpolated RPS rate goal, after year three (dollars per MWh) | MWh

10

Failure to meet RPS targets, penalty rate (dollars per MWh) | MWh

20

Estimated rewards

1

Potential total annual maximum reward

$ 1.5

$ 1.5

Potential total annual maximum reward

3

3

Total annual maximum penalty

0.9

0.9

Interconnection approval PIM, accrued estimated rewards

2.8

Performance incentive mechanism, maximum reward

2

$ 2

Performance incentive mechanism, term

3 years

Accrued estimated rewards, net of penalties

3.7

Hawaiian Electric, Parent

Regulatory Projects and Legal Obligations [Line Items]

Accrued estimated rewards, net of penalties

2.8

HELCO

Regulatory Projects and Legal Obligations [Line Items]

Accrued estimated rewards, net of penalties

0.4

Maui Electric

Regulatory Projects and Legal Obligations [Line Items]

Accrued estimated rewards, net of penalties

$ 0.5

Schofield Generation Station | Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

16.5

West Loch PV Project | Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

3.3

Grid Modernization Strategy Phase 1 Project | Hawaiian Electric Company, Inc. and Subsidiaries

Regulatory Projects and Legal Obligations [Line Items]

MPIR requested amount

$ 6.1

Electric utility segment - Annu

Electric utility segment - Annual decoupling filings summary (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Regulatory Projects and Legal Obligations [Line Items]
Incremental accrued RBA balance through September 30, 2021 (and associated revenue taxes)	$ (8.3)
Incremental Performance Incentive Mechanisms (net)	2.7
Incremental MPIR/EPRM Revenue Adjustment	2.8
Other	(0.1)
Net incremental amount to be collected under the RBA rate tariffs	(2.9)
Hawaiian Electric, Parent
Regulatory Projects and Legal Obligations [Line Items]
Incremental accrued RBA balance through September 30, 2021 (and associated revenue taxes)	(5.7)
Incremental Performance Incentive Mechanisms (net)	1.9
Incremental MPIR/EPRM Revenue Adjustment	1.3
Other	(0.1)
Net incremental amount to be collected under the RBA rate tariffs	(2.6)
Hawaii Electric Light
Regulatory Projects and Legal Obligations [Line Items]
Incremental accrued RBA balance through September 30, 2021 (and associated revenue taxes)	2.1
Incremental Performance Incentive Mechanisms (net)	0.4
Incremental MPIR/EPRM Revenue Adjustment	0.8
Other	0
Net incremental amount to be collected under the RBA rate tariffs	3.3
Maui Electric
Regulatory Projects and Legal Obligations [Line Items]
Incremental accrued RBA balance through September 30, 2021 (and associated revenue taxes)	(4.7)
Incremental Performance Incentive Mechanisms (net)	0.4
Incremental MPIR/EPRM Revenue Adjustment	0.7
Other	0
Net incremental amount to be collected under the RBA rate tariffs	$ (3.6)

Electric utility segment - Most

Electric utility segment - Most recent rate proceedings (Details) - USD ($) $ in Thousands	1 Months Ended
	Dec. 31, 2021	Mar. 31, 2022
Regulatory Projects and Legal Obligations [Line Items]
Regulatory assets	$ 565,543	$ 559,161
Hawaiian Electric Company, Inc. and Subsidiaries
Regulatory Projects and Legal Obligations [Line Items]
Regulatory assets		$ 27,800
Hawaiian Electric Company, Inc. and Subsidiaries | COVID-19
Regulatory Projects and Legal Obligations [Line Items]
Customer bill forgiveness	$ 2,000

Electric utility segment - Cond

Electric utility segment - Condensed consolidating statement of income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Condensed Income Statements, Captions [Line Items]
Revenues	$ 785,068	$ 642,946
Expenses
Total expenses	685,792	544,915
Total operating income	99,276	98,031
Allowance for equity funds used during construction	2,409	2,191
Retirement defined benefits credit—other than service costs	1,243	2,435
Allowance for borrowed funds used during construction	778	747
Income before income taxes	87,480	80,196
Income taxes	17,840	15,365
Net income attributable to Hawaiian Electric	69,640	64,831
Preferred stock dividends of Hawaiian Electric	473	473
Net income for common stock	69,167	64,358
Hawaiian Electric Consolidated
Condensed Income Statements, Captions [Line Items]
Revenues	708,792	564,864
Expenses
Fuel oil	221,286	127,427
Purchased power	163,533	142,296
Other operation and maintenance	125,257	114,570
Depreciation	58,471	57,355
Taxes, other than income taxes	66,650	54,102
Total expenses	635,197	495,750
Total operating income	73,595	69,114
Allowance for equity funds used during construction	2,409	2,191
Equity in earnings of subsidiaries	0	0
Retirement defined benefits credit—other than service costs	990	1,021
Interest expense and other charges, net	(18,326)	(17,983)
Allowance for borrowed funds used during construction	778	747
Income before income taxes	59,446	55,090
Income taxes	12,538	11,233
Net income	46,908	43,857
Preferred stock dividends of subsidiaries	229	229
Net income attributable to Hawaiian Electric	46,679	43,628
Preferred stock dividends of Hawaiian Electric	270	270
Net income for common stock	46,409	43,358
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric Industries, Inc.
Condensed Income Statements, Captions [Line Items]
Revenues	500,242	400,554
Expenses
Fuel oil	154,425	88,728
Purchased power	124,183	108,604
Other operation and maintenance	83,656	77,335
Depreciation	39,484	38,914
Taxes, other than income taxes	47,274	38,627
Total expenses	449,022	352,208
Total operating income	51,220	48,346
Allowance for equity funds used during construction	1,990	1,748
Equity in earnings of subsidiaries	13,661	12,510
Retirement defined benefits credit—other than service costs	855	886
Interest expense and other charges, net	(13,093)	(12,832)
Allowance for borrowed funds used during construction	651	591
Income before income taxes	55,284	51,249
Income taxes	8,605	7,621
Net income	46,679	43,628
Preferred stock dividends of subsidiaries	0	0
Net income attributable to Hawaiian Electric	46,679	43,628
Preferred stock dividends of Hawaiian Electric	270	270
Net income for common stock	46,409	43,358
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Condensed Income Statements, Captions [Line Items]
Revenues	108,528	85,149
Expenses
Fuel oil	25,251	16,485
Purchased power	30,712	21,597
Other operation and maintenance	20,214	17,912
Depreciation	10,351	10,048
Taxes, other than income taxes	10,032	7,993
Total expenses	96,560	74,035
Total operating income	11,968	11,114
Allowance for equity funds used during construction	193	132
Equity in earnings of subsidiaries	0	0
Retirement defined benefits credit—other than service costs	167	168
Interest expense and other charges, net	(2,609)	(2,581)
Allowance for borrowed funds used during construction	60	44
Income before income taxes	9,779	8,877
Income taxes	2,268	2,051
Net income	7,511	6,826
Preferred stock dividends of subsidiaries	134	134
Net income attributable to Hawaiian Electric	7,377	6,692
Preferred stock dividends of Hawaiian Electric	0	0
Net income for common stock	7,377	6,692
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Condensed Income Statements, Captions [Line Items]
Revenues	100,028	79,181
Expenses
Fuel oil	41,610	22,214
Purchased power	8,638	12,095
Other operation and maintenance	21,387	19,323
Depreciation	8,636	8,393
Taxes, other than income taxes	9,344	7,482
Total expenses	89,615	69,507
Total operating income	10,413	9,674
Allowance for equity funds used during construction	226	311
Equity in earnings of subsidiaries	0	0
Retirement defined benefits credit—other than service costs	(32)	(33)
Interest expense and other charges, net	(2,630)	(2,590)
Allowance for borrowed funds used during construction	67	112
Income before income taxes	8,044	7,474
Income taxes	1,665	1,561
Net income	6,379	5,913
Preferred stock dividends of subsidiaries	95	95
Net income attributable to Hawaiian Electric	6,284	5,818
Preferred stock dividends of Hawaiian Electric	0	0
Net income for common stock	6,284	5,818
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenues	0	0
Expenses
Fuel oil	0	0
Purchased power	0	0
Other operation and maintenance	0	0
Depreciation	0	0
Taxes, other than income taxes	0	0
Total expenses	0	0
Total operating income	0	0
Allowance for equity funds used during construction	0	0
Equity in earnings of subsidiaries	0	0
Retirement defined benefits credit—other than service costs	0	0
Interest expense and other charges, net	0	0
Allowance for borrowed funds used during construction	0	0
Income before income taxes	0	0
Income taxes	0	0
Net income	0	0
Preferred stock dividends of subsidiaries	0	0
Net income attributable to Hawaiian Electric	0	0
Preferred stock dividends of Hawaiian Electric	0	0
Net income for common stock	0	0
Hawaiian Electric Consolidated | Consolidating adjustments
Condensed Income Statements, Captions [Line Items]
Revenues	(6)	(20)
Expenses
Fuel oil	0	0
Purchased power	0	0
Other operation and maintenance	0	0
Depreciation	0	0
Taxes, other than income taxes	0	0
Total expenses	0	0
Total operating income	(6)	(20)
Allowance for equity funds used during construction	0	0
Equity in earnings of subsidiaries	(13,661)	(12,510)
Retirement defined benefits credit—other than service costs	0	0
Interest expense and other charges, net	6	20
Allowance for borrowed funds used during construction	0	0
Income before income taxes	(13,661)	(12,510)
Income taxes	0	0
Net income	(13,661)	(12,510)
Preferred stock dividends of subsidiaries	0	0
Net income attributable to Hawaiian Electric	(13,661)	(12,510)
Preferred stock dividends of Hawaiian Electric	0	0
Net income for common stock	$ (13,661)	$ (12,510)

Electric utility segment - Co_2

Electric utility segment - Condensed consolidating statement of comprehensive income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Condensed Statement of Income Captions [Line Items]
Net income for common stock	$ 69,167	$ 64,358
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	4,501	6,010
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,325)	(5,811)
Other comprehensive loss, net of tax benefits	(117,159)	(44,016)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(47,992)	20,342
Hawaiian Electric Consolidated
Condensed Statement of Income Captions [Line Items]
Net income for common stock	46,409	43,358
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	4,376	5,845
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,325)	(5,811)
Other comprehensive loss, net of tax benefits	51	34
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	46,460	43,392
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric Industries, Inc.
Condensed Statement of Income Captions [Line Items]
Net income for common stock	46,409	43,358
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	4,376	5,845
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(4,325)	(5,811)
Other comprehensive loss, net of tax benefits	51	34
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	46,460	43,392
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Condensed Statement of Income Captions [Line Items]
Net income for common stock	7,377	6,692
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	670	835
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(670)	(834)
Other comprehensive loss, net of tax benefits	0	1
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	7,377	6,693
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Condensed Statement of Income Captions [Line Items]
Net income for common stock	6,284	5,818
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	603	761
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	(603)	(761)
Other comprehensive loss, net of tax benefits	0	0
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	6,284	5,818
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
Condensed Statement of Income Captions [Line Items]
Net income for common stock	0	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 taxes	0	0
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	0	0
Other comprehensive loss, net of tax benefits	0	0
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	0	0
Hawaiian Electric Consolidated | Consolidating adjustments
Condensed Statement of Income Captions [Line Items]
Net income for common stock	(13,661)	(12,510)
Retirement benefit plans:
Adjustment for amortization of prior service credit and net losses recognized during the period in net periodic benefit cost, net of taxes	(1,273)	(1,596)
Reclassification adjustment for impact of D&Os of the PUC included in regulatory assets, net of taxes	1,273	1,595
Other comprehensive loss, net of tax benefits	0	(1)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	$ (13,661)	$ (12,511)

Electric utility segment - Co_3

Electric utility segment - Condensed consolidating balance sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Utility property, plant and equipment
Total property, plant and equipment, net	$ 5,411,746	$ 5,392,068
Current assets
Cash and cash equivalents	301,704	305,551	$ 277,579
Restricted cash	5,912	5,911	14,067
Other long-term assets
Operating lease right-of-use assets	136,207	122,416
Total assets	15,908,429	15,822,637
Capitalization
Common stock equity	2,303,642	2,390,884	2,321,293	$ 2,337,502
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293	34,293
Current liabilities
Interest and preferred dividends payable	33,519	19,889
Deferred credits and other liabilities
Deferred income taxes	340,246	384,760
Total liabilities and shareholders’ equity	15,908,429	15,822,637
Hawaiian Electric Consolidated
Utility property, plant and equipment
Land	52,057	51,937
Plant and equipment	7,796,069	7,735,983
Less accumulated depreciation	(2,985,762)	(2,940,517)
Construction in progress	212,748	204,569
Utility property, plant and equipment, net	5,075,112	5,051,972
Nonutility property, plant and equipment, less accumulated depreciation	6,948	6,949
Total property, plant and equipment, net	5,082,060	5,058,921
Investment in wholly owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	29,055	52,169	51,743
Restricted cash	2,140	3,089	11,506
Advances to affiliates	0	0
Customer accounts receivable, net	181,400	186,859
Accrued unbilled revenues, net	140,005	129,155
Other accounts receivable, net	7,040	7,267
Fuel oil stock, at average cost	139,372	104,078
Materials and supplies, at average cost	72,706	71,877
Prepayments and other	41,415	46,031
Regulatory assets	78,875	66,664
Total current assets	692,008	667,189
Other long-term assets
Operating lease right-of-use assets	114,478	101,470
Regulatory assets	480,286	498,879
Other	166,344	165,166
Total other long-term assets	761,108	765,515
Total assets	6,535,176	6,491,625
Capitalization
Common stock equity	2,276,884	2,261,899	2,157,385	2,141,918
Preferred stock of subsidiaries - not subject to mandatory redemption	34,293	34,293
Long-term debt, net	1,624,599	1,624,427
Total capitalization	3,935,776	3,920,619
Current liabilities
Current portion of operating lease liabilities	39,958	49,368
Current portion of long-term debt	51,982	51,975
Short-term borrowings from non-affiliates	6,000	0
Short-term borrowings from affiliate	0	0
Accounts payable	168,189	160,007
Interest and preferred dividends payable	28,154	17,325
Taxes accrued, including revenue taxes	181,324	208,280
Regulatory liabilities	29,928	29,760
Other	80,218	71,569
Total current liabilities	585,753	588,284
Deferred credits and other liabilities
Operating lease liabilities	88,689	65,780
Deferred income taxes	406,324	408,634
Regulatory liabilities	973,516	967,008
Unamortized tax credits	101,967	103,945
Defined benefit pension and other postretirement benefit plans liability	315,675	321,780
Other	127,476	115,575
Total deferred credits and other liabilities	2,013,647	1,982,722
Total liabilities and shareholders’ equity	6,535,176	6,491,625
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric Industries, Inc.
Utility property, plant and equipment
Land	42,857	42,737
Plant and equipment	5,144,377	5,097,033
Less accumulated depreciation	(1,788,280)	(1,757,096)
Construction in progress	164,073	159,854
Utility property, plant and equipment, net	3,563,027	3,542,528
Nonutility property, plant and equipment, less accumulated depreciation	5,301	5,302
Total property, plant and equipment, net	3,568,328	3,547,830
Investment in wholly owned subsidiaries, at equity	681,998	676,237
Current assets
Cash and cash equivalents	19,894	23,344	29,727
Restricted cash	2,140	3,089	11,506
Advances to affiliates	5,000	1,000
Customer accounts receivable, net	128,263	135,949
Accrued unbilled revenues, net	98,511	92,469
Other accounts receivable, net	15,846	18,624
Fuel oil stock, at average cost	105,780	71,184
Materials and supplies, at average cost	42,852	42,006
Prepayments and other	29,677	32,140
Regulatory assets	69,638	58,695
Total current assets	517,601	478,500
Other long-term assets
Operating lease right-of-use assets	61,826	78,710
Regulatory assets	325,063	337,903
Other	128,934	130,546
Total other long-term assets	515,823	547,159
Total assets	5,283,750	5,249,726
Capitalization
Common stock equity	2,276,884	2,261,899	2,157,385	2,141,918
Preferred stock of subsidiaries - not subject to mandatory redemption	22,293	22,293
Long-term debt, net	1,136,739	1,136,620
Total capitalization	3,435,916	3,420,812
Current liabilities
Current portion of operating lease liabilities	31,078	45,955
Current portion of long-term debt	39,986	39,981
Short-term borrowings from non-affiliates	6,000
Short-term borrowings from affiliate	12,800	0
Accounts payable	124,463	111,024
Interest and preferred dividends payable	20,057	12,442
Taxes accrued, including revenue taxes	125,425	143,723
Regulatory liabilities	19,416	22,240
Other	60,491	56,752
Total current liabilities	439,716	432,117
Deferred credits and other liabilities
Operating lease liabilities	44,785	46,426
Deferred income taxes	289,376	291,027
Regulatory liabilities	702,745	695,152
Unamortized tax credits	74,821	76,201
Defined benefit pension and other postretirement benefit plans liability	216,181	220,480
Other	80,210	67,511
Total deferred credits and other liabilities	1,408,118	1,396,797
Total liabilities and shareholders’ equity	5,283,750	5,249,726
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Utility property, plant and equipment
Land	5,606	5,606
Plant and equipment	1,394,875	1,390,361
Less accumulated depreciation	(627,421)	(619,991)
Construction in progress	19,691	17,129
Utility property, plant and equipment, net	792,751	793,105
Nonutility property, plant and equipment, less accumulated depreciation	115	115
Total property, plant and equipment, net	792,866	793,220
Investment in wholly owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	6,017	5,326	7,730
Restricted cash	0	0	0
Advances to affiliates	0	0
Customer accounts receivable, net	27,735	28,469
Accrued unbilled revenues, net	21,235	19,529
Other accounts receivable, net	5,128	3,347
Fuel oil stock, at average cost	13,895	12,814
Materials and supplies, at average cost	9,673	9,727
Prepayments and other	4,602	6,052
Regulatory assets	4,877	3,051
Total current assets	93,162	88,315
Other long-term assets
Operating lease right-of-use assets	38,368	22,442
Regulatory assets	78,877	81,645
Other	18,620	17,124
Total other long-term assets	135,865	121,211
Total assets	1,021,893	1,002,746
Capitalization
Common stock equity	336,177	332,900	320,494	317,451
Preferred stock of subsidiaries - not subject to mandatory redemption	7,000	7,000
Long-term debt, net	234,413	234,390
Total capitalization	577,590	574,290
Current liabilities
Current portion of operating lease liabilities	6,370	3,378
Current portion of long-term debt	11,996	11,994
Short-term borrowings from non-affiliates	0
Short-term borrowings from affiliate	5,000	1,000
Accounts payable	22,175	26,139
Interest and preferred dividends payable	3,687	2,617
Taxes accrued, including revenue taxes	29,109	33,153
Regulatory liabilities	5,495	3,247
Other	18,869	14,158
Total current liabilities	102,701	95,686
Deferred credits and other liabilities
Operating lease liabilities	32,066	19,063
Deferred income taxes	52,859	53,298
Regulatory liabilities	178,224	179,267
Unamortized tax credits	13,927	14,212
Defined benefit pension and other postretirement benefit plans liability	47,842	48,900
Other	16,684	18,030
Total deferred credits and other liabilities	341,602	332,770
Total liabilities and shareholders’ equity	1,021,893	1,002,746
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Utility property, plant and equipment
Land	3,594	3,594
Plant and equipment	1,256,817	1,248,589
Less accumulated depreciation	(570,061)	(563,430)
Construction in progress	28,984	27,586
Utility property, plant and equipment, net	719,334	716,339
Nonutility property, plant and equipment, less accumulated depreciation	1,532	1,532
Total property, plant and equipment, net	720,866	717,871
Investment in wholly owned subsidiaries, at equity	0	0
Current assets
Cash and cash equivalents	3,067	23,422	14,209
Restricted cash	0	0	0
Advances to affiliates	12,800	0
Customer accounts receivable, net	25,402	22,441
Accrued unbilled revenues, net	20,259	17,157
Other accounts receivable, net	4,269	3,031
Fuel oil stock, at average cost	19,697	20,080
Materials and supplies, at average cost	20,181	20,144
Prepayments and other	5,883	7,114
Regulatory assets	4,360	4,918
Total current assets	115,918	118,307
Other long-term assets
Operating lease right-of-use assets	14,284	318
Regulatory assets	76,346	79,331
Other	19,607	18,510
Total other long-term assets	110,237	98,159
Total assets	947,021	934,337
Capitalization
Common stock equity	345,744	343,260	311,405	309,363
Preferred stock of subsidiaries - not subject to mandatory redemption	5,000	5,000
Long-term debt, net	253,447	253,417
Total capitalization	604,191	601,677
Current liabilities
Current portion of operating lease liabilities	2,510	35
Current portion of long-term debt	0	0
Short-term borrowings from non-affiliates	0
Short-term borrowings from affiliate	0	0
Accounts payable	21,551	22,844
Interest and preferred dividends payable	4,414	2,269
Taxes accrued, including revenue taxes	25,537	30,679
Regulatory liabilities	5,017	4,273
Other	19,214	18,540
Total current liabilities	78,243	78,640
Deferred credits and other liabilities
Operating lease liabilities	11,838	291
Deferred income taxes	64,089	64,309
Regulatory liabilities	92,547	92,589
Unamortized tax credits	13,219	13,532
Defined benefit pension and other postretirement benefit plans liability	52,312	53,257
Other	30,582	30,042
Total deferred credits and other liabilities	264,587	254,020
Total liabilities and shareholders’ equity	947,021	934,337
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
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	77	77	77
Restricted cash	0	0	0
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	77	77
Other long-term assets
Operating lease right-of-use assets	0	0
Regulatory assets	0	0
Other	0	0
Total other long-term assets	0	0
Total assets	77	77
Capitalization
Common stock equity	77	77	77	77
Preferred stock of subsidiaries - not subject to mandatory redemption	0	0
Long-term debt, net	0	0
Total capitalization	77	77
Current liabilities
Current portion of operating lease liabilities	0	0
Current portion of long-term debt	0	0
Short-term borrowings from non-affiliates	0
Short-term borrowings from affiliate	0	0
Accounts payable	0	0
Interest and preferred dividends payable	0	0
Taxes accrued, including revenue taxes	0	0
Regulatory liabilities	0	0
Other	0	0
Total current liabilities	0	0
Deferred credits and other liabilities
Operating lease liabilities	0	0
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	77	77
Hawaiian Electric Consolidated | 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	(681,998)	(676,237)
Current assets
Cash and cash equivalents	0	0	0
Restricted cash	0	0	0
Advances to affiliates	(17,800)	(1,000)
Customer accounts receivable, net	0	0
Accrued unbilled revenues, net	0	0
Other accounts receivable, net	(18,203)	(17,735)
Fuel oil stock, at average cost	0	0
Materials and supplies, at average cost	0	0
Prepayments and other	1,253	725
Regulatory assets	0	0
Total current assets	(34,750)	(18,010)
Other long-term assets
Operating lease right-of-use assets	0	0
Regulatory assets	0	0
Other	(817)	(1,014)
Total other long-term assets	(817)	(1,014)
Total assets	(717,565)	(695,261)
Capitalization
Common stock equity	(681,998)	(676,237)	$ (631,976)	$ (626,891)
Preferred stock of subsidiaries - not subject to mandatory redemption	0	0
Long-term debt, net	0	0
Total capitalization	(681,998)	(676,237)
Current liabilities
Current portion of operating lease liabilities	0	0
Current portion of long-term debt	0	0
Short-term borrowings from non-affiliates	0
Short-term borrowings from affiliate	(17,800)	(1,000)
Accounts payable	0	0
Interest and preferred dividends payable	(4)	(3)
Taxes accrued, including revenue taxes	1,253	725
Regulatory liabilities	0	0
Other	(18,356)	(17,881)
Total current liabilities	(34,907)	(18,159)
Deferred credits and other liabilities
Operating lease liabilities	0	0
Deferred income taxes	0	0
Regulatory liabilities	0	0
Unamortized tax credits	0	0
Defined benefit pension and other postretirement benefit plans liability	(660)	(857)
Other	0	(8)
Total deferred credits and other liabilities	(660)	(865)
Total liabilities and shareholders’ equity	$ (717,565)	$ (695,261)

Electric utility segment - Co_4

Electric utility segment - Condensed consolidating statement of changes in common stock equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Increase (decrease) in stockholders' equity
Beginning balance	$ 2,390,884	$ 2,337,502
Net income for common stock	69,167	64,358
Other comprehensive income, net of taxes	(117,159)	(44,016)
Common stock dividends	(38,301)	(37,156)
Ending balance	2,303,642	2,321,293
Hawaiian Electric Consolidated
Increase (decrease) in stockholders' equity
Beginning balance	2,261,899	2,141,918
Net income for common stock	46,409	43,358
Other comprehensive income, net of taxes	51	34
Common stock dividends	(31,475)	(27,925)
Ending balance	2,276,884	2,157,385
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric Industries, Inc.
Increase (decrease) in stockholders' equity
Beginning balance	2,261,899	2,141,918
Net income for common stock	46,409	43,358
Other comprehensive income, net of taxes	51	34
Common stock dividends	(31,475)	(27,925)
Ending balance	2,276,884	2,157,385
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Increase (decrease) in stockholders' equity
Beginning balance	332,900	317,451
Net income for common stock	7,377	6,692
Other comprehensive income, net of taxes	0	1
Common stock dividends	(4,100)	(3,650)
Ending balance	336,177	320,494
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Increase (decrease) in stockholders' equity
Beginning balance	343,260	309,363
Net income for common stock	6,284	5,818
Other comprehensive income, net of taxes	0	0
Common stock dividends	(3,800)	(3,776)
Ending balance	345,744	311,405
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
Increase (decrease) in stockholders' equity
Beginning balance	77	77
Net income for common stock	0	0
Other comprehensive income, net of taxes	0	0
Ending balance	77	77
Hawaiian Electric Consolidated | Consolidating adjustments
Increase (decrease) in stockholders' equity
Beginning balance	(676,237)	(626,891)
Net income for common stock	(13,661)	(12,510)
Other comprehensive income, net of taxes	0	(1)
Common stock dividends	7,900	7,426
Ending balance	$ (681,998)	$ (631,976)

Electric utility segment - Co_5

Electric utility segment - Condensed consolidating statement of cash flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Cash flows from operating activities
Net cash provided by operating activities	$ 92,585	$ 41,730
Cash flows from investing activities
Capital expenditures	(79,163)	(74,079)
Other	5,340	4,622
Net cash used in investing activities	(227,714)	(518,020)
Cash flows from financing activities
Common stock dividends	(38,301)	(37,156)
Repayment of short-term debt	0	(65,000)
Proceeds from issuance of long-term debt	7,312	161,800
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	49,080	13,015
Other	(4,377)	(4,621)
Net cash provided by financing activities	131,283	408,957
Net decrease in cash, cash equivalents and restricted cash	(3,846)	(67,333)
Cash, cash equivalents and restricted cash, beginning of period	311,462	358,979
Cash, cash equivalents and restricted cash, end of period	307,616	291,646
Less: Restricted cash	(5,912)	(14,067)	$ (5,911)
Cash and cash equivalents, end of period	301,704	277,579	305,551
Hawaiian Electric Consolidated
Cash flows from operating activities
Net cash provided by operating activities	76,775	31,961
Cash flows from investing activities
Capital expenditures	(76,358)	(70,361)
Advances to affiliates	0	0
Other	1,494	1,863
Net cash used in investing activities	(74,864)	(68,498)
Cash flows from financing activities
Common stock dividends	(31,475)	(27,925)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(499)	(499)
Repayment of short-term debt	0	(50,000)
Proceeds from issuance of long-term debt	0	115,000
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	6,000	0
Other	0	(116)
Net cash provided by financing activities	(25,974)	36,460
Net decrease in cash, cash equivalents and restricted cash	(24,063)	(77)
Cash, cash equivalents and restricted cash, beginning of period	55,258	63,326
Cash, cash equivalents and restricted cash, end of period	31,195	63,249
Less: Restricted cash	(2,140)	(11,506)	(3,089)
Cash and cash equivalents, end of period	29,055	51,743	52,169
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaiian Electric Industries, Inc.
Cash flows from operating activities
Net cash provided by operating activities	55,669	18,764
Cash flows from investing activities
Capital expenditures	(44,084)	(45,293)
Advances to affiliates	(4,000)	26,700
Other	961	1,182
Net cash used in investing activities	(47,123)	(17,411)
Cash flows from financing activities
Common stock dividends	(31,475)	(27,925)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(270)	(270)
Repayment of short-term debt		(50,000)
Proceeds from issuance of long-term debt		60,000
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	18,800	0
Other		(96)
Net cash provided by financing activities	(12,945)	(18,291)
Net decrease in cash, cash equivalents and restricted cash	(4,399)	(16,938)
Cash, cash equivalents and restricted cash, beginning of period	26,433	58,171
Cash, cash equivalents and restricted cash, end of period	22,034	41,233
Less: Restricted cash	(2,140)	(11,506)	(3,089)
Cash and cash equivalents, end of period	19,894	29,727	23,344
Hawaiian Electric Consolidated | Reportable Legal Entities | Hawaii Electric Light
Cash flows from operating activities
Net cash provided by operating activities	15,778	9,635
Cash flows from investing activities
Capital expenditures	(15,133)	(12,728)
Advances to affiliates	0	0
Other	280	372
Net cash used in investing activities	(14,853)	(12,356)
Cash flows from financing activities
Common stock dividends	(4,100)	(3,650)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(134)	(134)
Repayment of short-term debt		0
Proceeds from issuance of long-term debt		30,000
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	4,000	(18,800)
Other		(11)
Net cash provided by financing activities	(234)	7,405
Net decrease in cash, cash equivalents and restricted cash	691	4,684
Cash, cash equivalents and restricted cash, beginning of period	5,326	3,046
Cash, cash equivalents and restricted cash, end of period	6,017	7,730
Less: Restricted cash	0	0	0
Cash and cash equivalents, end of period	6,017	7,730	5,326
Hawaiian Electric Consolidated | Reportable Legal Entities | Maui Electric
Cash flows from operating activities
Net cash provided by operating activities	13,228	10,988
Cash flows from investing activities
Capital expenditures	(17,141)	(12,340)
Advances to affiliates	(12,800)	0
Other	253	309
Net cash used in investing activities	(29,688)	(12,031)
Cash flows from financing activities
Common stock dividends	(3,800)	(3,776)
Preferred stock dividends of Hawaiian Electric and subsidiaries	(95)	(95)
Repayment of short-term debt		0
Proceeds from issuance of long-term debt		25,000
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	0	(7,900)
Other		(9)
Net cash provided by financing activities	(3,895)	13,220
Net decrease in cash, cash equivalents and restricted cash	(20,355)	12,177
Cash, cash equivalents and restricted cash, beginning of period	23,422	2,032
Cash, cash equivalents and restricted cash, end of period	3,067	14,209
Less: Restricted cash	0	0	0
Cash and cash equivalents, end of period	3,067	14,209	23,422
Hawaiian Electric Consolidated | Reportable Legal Entities | Other subsidiaries
Cash flows from operating activities
Net cash provided by operating activities	0	0
Cash flows from investing activities
Capital expenditures	0	0
Advances to affiliates	0	0
Other	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
Repayment of short-term debt		0
Proceeds from issuance of long-term debt		0
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	0	0
Other		0
Net cash provided by financing activities	0	0
Net decrease in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	77	77
Cash, cash equivalents and restricted cash, end of period	77	77
Less: Restricted cash	0	0	0
Cash and cash equivalents, end of period	77	77	77
Hawaiian Electric Consolidated | Consolidating adjustments
Cash flows from operating activities
Net cash provided by operating activities	(7,900)	(7,426)
Cash flows from investing activities
Capital expenditures	0	0
Advances to affiliates	16,800	(26,700)
Other	0	0
Net cash used in investing activities	16,800	(26,700)
Cash flows from financing activities
Common stock dividends	7,900	7,426
Preferred stock dividends of Hawaiian Electric and subsidiaries	0	0
Repayment of short-term debt		0
Proceeds from issuance of long-term debt		0
Net increase (decrease) in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less	(16,800)	26,700
Other		0
Net cash provided by financing activities	(8,900)	34,126
Net decrease in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period	0	0
Less: Restricted cash	0	0	0
Cash and cash equivalents, end of period	$ 0	$ 0	$ 0

Bank segment - Income statement

Bank segment - Income statement data (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest expense
Provision for credit losses	$ (3,763)	$ (7,035)
Noninterest income
Noninterest income	700,831	541,300
Noninterest expense
Income before income taxes	87,480	80,196
Income taxes	17,840	15,365
Net income attributable to Hawaiian Electric	69,640	64,831
Other comprehensive (loss) income, net of taxes/benefits	(117,159)	(44,016)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(47,992)	20,342
American Savings Bank (ASB)
Interest and dividend income
Interest and fees on loans	46,005	49,947
Interest and dividends on investment securities	13,984	8,673
Total interest and dividend income	59,989	58,620
Interest expense
Interest on deposit liabilities	947	1,462
Interest on other borrowings	5	27
Total interest expense	952	1,489
Net interest income	59,037	57,131
Provision for credit losses	(3,263)	(8,435)
Net interest income after provision for credit losses	62,300	65,566
Noninterest income
Gain on sale of real estate	1,002	0
Total noninterest income	16,128	19,039
Noninterest expense
Compensation and employee benefits	27,215	28,037
Occupancy	5,952	4,969
Data processing	4,151	4,351
Services	2,439	2,862
Equipment	2,329	2,222
Office supplies, printing and postage	1,060	1,044
Marketing	1,018	648
FDIC insurance	808	816
Other expense	3,241	2,554
Total noninterest expense	48,213	47,503
Income before income taxes	30,215	37,102
Income taxes	6,345	7,546
Net income attributable to Hawaiian Electric	23,870	29,556
Other comprehensive (loss) income, net of taxes/benefits	(122,441)	(45,754)
Comprehensive income (loss) attributable to Hawaiian Electric Industries, Inc.	(98,571)	(16,198)
American Savings Bank (ASB) | Fees from other financial services
Noninterest income
Noninterest income	5,587	5,073
American Savings Bank (ASB) | Fee income on deposit liabilities
Noninterest income
Noninterest income	4,691	3,863
American Savings Bank (ASB) | Fee income on other financial products
Noninterest income
Noninterest income	2,718	2,442
American Savings Bank (ASB) | Bank-owned life insurance
Noninterest income
Noninterest income	681	2,561
American Savings Bank (ASB) | Mortgage banking income
Noninterest income
Noninterest income	1,077	4,300
American Savings Bank (ASB) | Gain on sale of investment securities, net
Noninterest income
Noninterest income	0	528
American Savings Bank (ASB) | Other income, net
Noninterest income
Noninterest income	$ 372	$ 272

Bank segment - Reconciliation o

Bank segment - Reconciliation of income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Condensed Income Statements, Captions [Line Items]
Less: Gain on sale of investment securities, net	$ 8,123	$ 528
Revenues	785,068	642,946
Provision for credit losses	(3,763)	(7,035)
Less: Retirement defined benefits credit—other than service costs	(1,243)	(2,435)
Total expenses	685,792	544,915
Operating income - Bank	99,276	98,031
Income before income taxes	87,480	80,196
American Savings Bank (ASB)
Condensed Income Statements, Captions [Line Items]
Interest and dividend income	59,989	58,620
Noninterest income	16,128	19,039
Less: Gain on sale of real estate	1,002	0
Less: Gain on sale of investment securities, net	0	528
Revenues	75,115	77,131
Total interest expense	952	1,489
Provision for credit losses	(3,263)	(8,435)
Noninterest expense	48,213	47,503
Less: Retirement defined benefits credit—other than service costs	(185)	(1,278)
Total expenses	45,085	41,835
Operating income - Bank	30,030	35,296
Income before income taxes	$ 30,215	$ 37,102

Bank segment - Balance sheet da

Bank segment - Balance sheet data (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 301,704	$ 305,551	$ 277,579
Investment securities
Available-for-sale investment securities, at fair value	2,621,375	2,574,618
Held-to-maturity, at amortized cost (fair value of $466,236 and $510,474, respectively)	517,150	522,270
Held-to-maturity investment securities	466,236
Stock in Federal Home Loan Bank, at cost	10,000	10,000
Allowance for credit losses	(67,211)	(71,130)	(91,793)	$ (101,201)
Total loans, net	5,117,522	5,139,984
Loans held for sale, at lower of cost or fair value	7,961	10,404
Other assets	777,694	747,469
Goodwill	82,190	82,190
Total assets	15,908,429	15,822,637
Liabilities and shareholder’s equity
Other	645,118	669,215
Total liabilities	13,570,494	13,397,460
Retained earnings	788,787	757,921
Accumulated other comprehensive loss, net of tax benefits
Accumulated other comprehensive loss, net of tax benefits	(169,692)	(52,533)
Total shareholders’ equity	2,303,642	2,390,884	$ 2,321,293	$ 2,337,502
Total liabilities and shareholders’ equity	15,908,429	15,822,637
Other assets
Premises and equipment, net	5,411,746	5,392,068
Other assets	777,694	747,469
Other liabilities
Other liabilities	645,118	669,215
American Savings Bank (ASB)
Assets
Cash and due from banks	114,249	100,051
Interest-bearing deposits	155,279	151,189
Cash and cash equivalents	269,528	251,240
Investment securities
Available-for-sale investment securities, at fair value	2,621,375	2,574,618
Held-to-maturity, at amortized cost (fair value of $466,236 and $510,474, respectively)	517,150	522,270
Held-to-maturity investment securities	466,236	510,474
Stock in Federal Home Loan Bank, at cost	10,000	10,000
Loans held for investment	5,184,733	5,211,114
Allowance for credit losses	(67,211)	(71,130)
Total loans, net	5,117,522	5,139,984
Loans held for sale, at lower of cost or fair value	7,961	10,404
Other assets	626,599	590,897
Goodwill	82,190	82,190
Total assets	9,252,325	9,181,603
Liabilities and shareholder’s equity
Deposit liabilities—noninterest-bearing	3,016,520	2,976,632
Deposit liabilities—interest-bearing	5,272,752	5,195,580
Other borrowings	137,385	88,305
Other	210,681	193,268
Total liabilities	8,637,338	8,453,785
Common stock	1	1
Additional paid-in capital	354,635	353,895
Retained earnings	420,574	411,704
Accumulated other comprehensive loss, net of tax benefits
Net unrealized losses on securities	(152,444)	(32,037)
Retirement benefit plans	(7,779)	(5,745)
Accumulated other comprehensive loss, net of tax benefits	(160,223)	(37,782)
Total shareholders’ equity	614,987	727,818
Total liabilities and shareholders’ equity	9,252,325	9,181,603
Other assets
Bank-owned life insurance	176,301	177,566
Premises and equipment, net	199,949	202,299
Accrued interest receivable	21,133	20,854
Mortgage-servicing rights	10,024	9,950
Low-income housing investments	107,791	110,989
Deferred tax asset	51,720	7,699
Other	59,681	61,540
Other assets	626,599	590,897
Other liabilities
Accrued expenses	104,958	87,905
Federal and state income taxes payable	2,174	0
Cashier’s checks	36,586	33,675
Advance payments by borrowers	5,664	9,994
Other	61,299	61,694
Other liabilities	$ 210,681	$ 193,268

Bank segment - Narrative (Detai

Bank segment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Allowance for credit losses
Securities sold under agreements to repurchase	$ 137		$ 88
American Savings Bank (ASB)
Allowance for credit losses
Securities sold under agreements to repurchase	$ 137.4		$ 88.3
Minimum benchmark percentage of loan to appraisal ratio which mortgage insurance is required	80.00%
Minimum benchmark percentage of loan to appraisal ratio on non-owner occupied residential property	75.00%
Home equity line of credit
Allowance for credit losses
Conversion of debt	$ 4.4	$ 6.2
Commercial
Allowance for credit losses
Conversion of debt	0.5	0.5
Consumer
Allowance for credit losses
Conversion of debt	$ 1	$ 0.7

Bank segment - Components of in

Bank segment - Components of investment securities (Details) $ in Thousands	Mar. 31, 2022USD ($)issue	Dec. 31, 2021USD ($)issue
Available-for-sale
Available-for-sale investment securities, at fair value	$ 2,621,375	$ 2,574,618
Held-to-maturity
Amortized cost	517,150	522,270
Held-to-maturity investment securities	466,236
American Savings Bank (ASB)
Available-for-sale
Amortized cost	2,829,626	2,618,384
Gross unrealized gains	453	7,969
Gross unrealized losses	(208,704)	(51,735)
Available-for-sale investment securities, at fair value	$ 2,621,375	$ 2,574,618
Gross unrealized losses, Less than 12 months, Number of issues | issue	184	125
Gross unrealized losses, Less than 12 months, Fair value	$ 1,609,984	$ 1,902,850
Gross unrealized losses, Less than 12 months, Amount	$ (102,135)	$ (38,850)
Gross unrealized losses, 12 months or longer, Number of issues | issue	64	18
Gross unrealized losses, 12 months or longer, Fair value	$ 904,628	$ 271,012
Gross unrealized losses, 12 months or more, amount	(106,569)	(12,885)
Held-to-maturity
Amortized cost	517,150	522,270
Gross unrealized gains	76	1,648
Gross unrealized losses	(50,990)	(13,444)
Held-to-maturity investment securities	$ 466,236	$ 510,474
Less than 12 months: Number of issues | issue	26	24
Less than 12 Months: Fair value	$ 303,032	$ 330,477
Less than 12 Months: Amount	$ (27,795)	$ (7,835)
12 months or longer: Number of issues | issue	13	7
12 months or longer: Fair value	$ 158,370	$ 106,483
12 months or longer: Amount	(23,195)	(5,609)
U.S. Treasury and federal agency obligations | American Savings Bank (ASB)
Available-for-sale
Amortized cost	109,343	89,714
Gross unrealized gains	75	803
Gross unrealized losses	(3,216)	(427)
Available-for-sale investment securities, at fair value	$ 106,202	$ 90,090
Gross unrealized losses, Less than 12 months, Number of issues | issue	16	4
Gross unrealized losses, Less than 12 months, Fair value	$ 91,087	$ 44,827
Gross unrealized losses, Less than 12 months, Amount	$ (3,216)	$ (427)
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 more, amount	0	0
Held-to-maturity
Amortized cost	59,877	59,871
Gross unrealized gains	0	168
Gross unrealized losses	(3,831)	(170)
Held-to-maturity investment securities	$ 56,046	$ 59,869
Less than 12 months: Number of issues | issue	3	2
Less than 12 Months: Fair value	$ 56,046	$ 39,594
Less than 12 Months: Amount	$ (3,831)	$ (170)
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
Mortgage-backed securities | American Savings Bank (ASB)
Available-for-sale
Amortized cost	2,660,506	2,482,618
Gross unrealized gains	277	6,511
Gross unrealized losses	(204,029)	(51,206)
Available-for-sale investment securities, at fair value	$ 2,456,754	$ 2,437,923
Gross unrealized losses, Less than 12 months, Number of issues | issue	165	120
Gross unrealized losses, Less than 12 months, Fair value	$ 1,484,883	$ 1,845,243
Gross unrealized losses, Less than 12 months, Amount	$ (97,460)	$ (38,321)
Gross unrealized losses, 12 months or longer, Number of issues | issue	64	18
Gross unrealized losses, 12 months or longer, Fair value	$ 904,628	$ 271,012
Gross unrealized losses, 12 months or more, amount	(106,569)	(12,885)
Held-to-maturity
Amortized cost	457,273	462,399
Gross unrealized gains	76	1,480
Gross unrealized losses	(47,159)	(13,274)
Held-to-maturity investment securities	$ 410,190	$ 450,605
Less than 12 months: Number of issues | issue	23	22
Less than 12 Months: Fair value	$ 246,986	$ 290,883
Less than 12 Months: Amount	$ (23,964)	$ (7,665)
12 months or longer: Number of issues | issue	13	7
12 months or longer: Fair value	$ 158,370	$ 106,483
12 months or longer: Amount	(23,195)	(5,609)
Corporate bonds | American Savings Bank (ASB)
Available-for-sale
Amortized cost	44,481	30,625
Gross unrealized gains	101	655
Gross unrealized losses	(1,459)	(102)
Available-for-sale investment securities, at fair value	$ 43,123	$ 31,178
Gross unrealized losses, Less than 12 months, Number of issues | issue	3	1
Gross unrealized losses, Less than 12 months, Fair value	$ 34,014	$ 12,780
Gross unrealized losses, Less than 12 months, Amount	$ (1,459)	$ (102)
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 more, amount	0	0
Mortgage revenue bonds | American Savings Bank (ASB)
Available-for-sale
Amortized cost	15,296	15,427
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Available-for-sale investment securities, at fair value	$ 15,296	$ 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 more, amount	$ 0	$ 0

Bank segment - Contractual matu

Bank segment - Contractual maturities of investment securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Available-for-sale
Due in one year or less	$ 15,821
Due after one year through five years	81,524
Due after five years through ten years	71,775
Due after ten years	0
Total amortized cost	169,120
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	2,660,506
Amortized cost	2,829,626
Held-to-maturity
Due in one year or less	0
Due after one year through five years	0
Due after five years through ten years	59,877
Due after ten years	0
Total amortized cost	59,877
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	457,273
Amortized cost	517,150
Available-for-sale
Due in one year or less	15,890
Due after one year through five years	79,931
Due after five years through ten years	68,800
Due after ten years	0
Total fair value	164,621
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	2,456,754
Total available-for-sale securities	2,621,375		$ 2,574,618
Held-to-maturity
Due in one year or less	0
Due after one year through five years	0
Due after five years through ten years	56,046
Due after ten years	0
Total fair value	56,046
Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies	410,190
Total held-to-maturity securities	466,236
Proceeds, gross gains and losses from sales of available-for-sale securities
Proceeds	0	$ 197,354
Gross gains	0	974
Gross losses	0	446
Tax expense on realized gains	$ 0	$ 142

Bank segment - Loans receivable

Bank segment - Loans receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 5,193,260	$ 5,221,204
Less: Deferred fees and discounts	(8,527)	(10,090)
Allowance for credit losses	(67,211)	(71,130)	$ (91,793)	$ (101,201)
Total loans, net	5,117,522	5,139,984
Real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	4,368,723	4,313,934
Real estate | Residential 1-4 family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,279,671	2,299,212
Allowance for credit losses	(7,874)	(6,545)	(5,261)	(4,600)
Real estate | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,115,632	1,056,982
Allowance for credit losses	(20,176)	(24,696)	(34,345)	(35,607)
Real estate | Home equity line of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	845,271	835,663
Allowance for credit losses	(5,650)	(5,657)	(5,901)	(6,813)
Real estate | Residential land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	22,309	19,859
Allowance for credit losses	(697)	(646)	(573)	(609)
Real estate | Commercial construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	90,332	91,080
Allowance for credit losses	(2,340)	(2,186)	(1,453)	(4,149)
Real estate | Residential construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	15,508	11,138
Allowance for credit losses	(31)	(18)	(16)	(11)
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	708,447	793,304
Allowance for credit losses	(14,314)	(15,798)	(24,504)	(25,462)
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	116,090	113,966
Allowance for credit losses	$ (16,129)	$ (15,584)	$ (19,740)	$ (23,950)

Bank segment - Allowance for cr

Bank segment - Allowance for credit losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Allowance for credit losses:
Beginning balance	$ 71,130	$ 101,201
Charge-offs	(1,558)	(3,681)
Recoveries	1,402	1,308
Provision for credit losses	(3,763)	(7,035)
Ending balance	67,211	91,793
Real estate | Residential 1-4 family
Allowance for credit losses:
Beginning balance	6,545	4,600
Charge-offs	0	0
Recoveries	8	3
Provision for credit losses	1,321	658
Ending balance	7,874	5,261
Real estate | Commercial real estate
Allowance for credit losses:
Beginning balance	24,696	35,607
Charge-offs	0	0
Recoveries	0	0
Provision for credit losses	(4,520)	(1,262)
Ending balance	20,176	34,345
Real estate | Home equity line of credit
Allowance for credit losses:
Beginning balance	5,657	6,813
Charge-offs	0	(50)
Recoveries	11	15
Provision for credit losses	(18)	(877)
Ending balance	5,650	5,901
Real estate | Residential land
Allowance for credit losses:
Beginning balance	646	609
Charge-offs	0	0
Recoveries	5	10
Provision for credit losses	46	(46)
Ending balance	697	573
Real estate | Commercial construction
Allowance for credit losses:
Beginning balance	2,186	4,149
Charge-offs	0	0
Recoveries	0	0
Provision for credit losses	154	(2,696)
Ending balance	2,340	1,453
Real estate | Residential construction
Allowance for credit losses:
Beginning balance	18	11
Charge-offs	0	0
Recoveries	0	0
Provision for credit losses	13	5
Ending balance	31	16
Commercial
Allowance for credit losses:
Beginning balance	15,798	25,462
Charge-offs	(76)	(771)
Recoveries	353	273
Provision for credit losses	(1,761)	(460)
Ending balance	14,314	24,504
Consumer
Allowance for credit losses:
Beginning balance	15,584	23,950
Charge-offs	(1,482)	(2,860)
Recoveries	1,025	1,007
Provision for credit losses	1,002	(2,357)
Ending balance	$ 16,129	$ 19,740

Bank segment - Allowance for lo

Bank segment - Allowance for loan commitments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Allowance for loan commitments:
Beginning balance	$ 4,900	$ 4,300
Provision	500	(1,400)
Ending balance	5,400	2,900
Real estate | Home equity line of credit
Allowance for loan commitments:
Beginning balance	400	300
Provision	0	100
Ending balance	400	400
Real estate | Commercial construction
Allowance for loan commitments:
Beginning balance	3,700	3,000
Provision	(100)	(1,700)
Ending balance	3,600	1,300
Commercial
Allowance for loan commitments:
Beginning balance	800	1,000
Provision	600	200
Ending balance	$ 1,400	$ 1,200

Bank segment - Credit risk prof

Bank segment - Credit risk profile - payment activity and assigned grades (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Credit risk profile by internally assigned grade for loans
Current Year	$ 186,653	$ 1,325,112
One Year before Current Year	1,282,228	934,584
Two Years before Current Year	894,415	367,452
Three Years before Current Year	343,354	236,305
Four Years before Current Year	204,145	217,965
Prior	1,261,115	1,119,478
Revolving	960,153	958,710
Converted to term loans	61,197	61,598
Total	5,193,260	5,221,204
Real estate
Credit risk profile by internally assigned grade for loans
Total	4,368,723	4,313,934
Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current Year	77,374	791,758
One Year before Current Year	779,764	461,683
Two Years before Current Year	448,738	136,332
Three Years before Current Year	125,136	65,230
Four Years before Current Year	59,776	124,994
Prior	788,883	719,215
Revolving	0	0
Converted to term loans	0	0
Total	2,279,671	2,299,212
Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	804,781	795,668
Converted to term loans	40,490	39,995
Total	845,271	835,663
Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current Year	2,703	10,572
One Year before Current Year	10,550	6,794
Two Years before Current Year	6,725	1,116
Three Years before Current Year	958	532
Four Years before Current Year	530	267
Prior	843	578
Revolving	0	0
Converted to term loans	0	0
Total	22,309	19,859
Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current Year	2,423	7,856
One Year before Current Year	10,493	3,019
Two Years before Current Year	2,336	0
Three Years before Current Year	0	0
Four Years before Current Year	0	263
Prior	256	0
Revolving	0	0
Converted to term loans	0	0
Total	15,508	11,138
Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current Year	72,390	193,394
One Year before Current Year	191,141	279,455
Two Years before Current Year	296,719	106,188
Three Years before Current Year	106,169	89,219
Four Years before Current Year	77,736	56,174
Prior	367,242	320,950
Revolving	4,235	11,602
Converted to term loans	0	0
Total	1,115,632	1,056,982
Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current Year	119	17,140
One Year before Current Year	22,614	43,261
Two Years before Current Year	32,846	0
Three Years before Current Year	0	11,342
Four Years before Current Year	11,341	0
Prior	0	0
Revolving	23,412	19,337
Converted to term loans	0	0
Total	90,332	91,080
Consumer
Credit risk profile by internally assigned grade for loans
Current Year	23,123	37,838
One Year before Current Year	33,051	15,889
Two Years before Current Year	12,939	30,679
Three Years before Current Year	23,200	11,506
Four Years before Current Year	6,901	352
Prior	333	238
Revolving	12,116	13,044
Converted to term loans	4,427	4,420
Total	116,090	113,966
Commercial
Credit risk profile by internally assigned grade for loans
Current Year	8,521	266,554
One Year before Current Year	234,615	124,483
Two Years before Current Year	94,112	93,137
Three Years before Current Year	87,891	58,476
Four Years before Current Year	47,861	35,915
Prior	103,558	78,497
Revolving	115,609	119,059
Converted to term loans	16,280	17,183
Total	708,447	793,304
Pass | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current Year	72,390	173,794
One Year before Current Year	171,541	275,242
Two Years before Current Year	292,533	49,317
Three Years before Current Year	53,006	56,490
Four Years before Current Year	61,639	33,581
Prior	296,669	259,583
Revolving	4,235	11,602
Converted to term loans	0	0
Total	952,013	859,609
Pass | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current Year	119	17,140
One Year before Current Year	22,614	43,261
Two Years before Current Year	32,846	0
Three Years before Current Year	0	11,342
Four Years before Current Year	11,341	0
Prior	0	0
Revolving	23,412	19,337
Converted to term loans	0	0
Total	90,332	91,080
Pass | Commercial
Credit risk profile by internally assigned grade for loans
Current Year	8,521	266,087
One Year before Current Year	234,161	96,963
Two Years before Current Year	83,927	79,329
Three Years before Current Year	75,241	56,497
Four Years before Current Year	46,058	31,019
Prior	89,119	66,570
Revolving	89,919	96,673
Converted to term loans	14,951	15,510
Total	641,897	708,648
Special Mention | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current Year	0	19,600
One Year before Current Year	19,600	3,529
Two Years before Current Year	3,508	42,935
Three Years before Current Year	41,925	30,870
Four Years before Current Year	14,250	20,788
Prior	43,372	32,824
Revolving	0	0
Converted to term loans	0	0
Total	122,655	150,546
Special Mention | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Special Mention | Commercial
Credit risk profile by internally assigned grade for loans
Current Year	0	40
One Year before Current Year	31	27,336
Two Years before Current Year	10,012	10,071
Three Years before Current Year	9,540	202
Four Years before Current Year	117	439
Prior	7,680	8,966
Revolving	18,364	15,303
Converted to term loans	17	18
Total	45,761	62,375
Substandard | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	684
Two Years before Current Year	678	13,936
Three Years before Current Year	11,238	1,859
Four Years before Current Year	1,847	1,805
Prior	27,201	28,543
Revolving	0	0
Converted to term loans	0	0
Total	40,964	46,827
Substandard | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Substandard | Commercial
Credit risk profile by internally assigned grade for loans
Current Year	0	427
One Year before Current Year	423	184
Two Years before Current Year	173	3,737
Three Years before Current Year	3,110	1,777
Four Years before Current Year	1,686	4,457
Prior	6,759	2,961
Revolving	7,326	7,083
Converted to term loans	1,312	1,655
Total	20,789	22,281
Doubtful | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Doubtful | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Doubtful | Commercial
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Current | Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current Year	77,374	791,758
One Year before Current Year	779,764	461,683
Two Years before Current Year	448,738	133,345
Three Years before Current Year	125,136	64,421
Four Years before Current Year	58,967	124,994
Prior	781,055	712,452
Revolving	0	0
Converted to term loans	0	0
Total	2,271,034	2,288,653
Current | Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	803,515	794,518
Converted to term loans	39,683	39,116
Total	843,198	833,634
Current | Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current Year	2,703	10,572
One Year before Current Year	10,550	6,794
Two Years before Current Year	6,725	1,116
Three Years before Current Year	958	532
Four Years before Current Year	530	267
Prior	446	181
Revolving	0	0
Converted to term loans	0	0
Total	21,912	19,462
Current | Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current Year	2,423	7,856
One Year before Current Year	10,493	3,019
Two Years before Current Year	2,336	0
Three Years before Current Year	0	0
Four Years before Current Year	0	263
Prior	256	0
Revolving	0	0
Converted to term loans	0	0
Total	15,508	11,138
Current | Consumer
Credit risk profile by internally assigned grade for loans
Current Year	22,938	37,563
One Year before Current Year	32,765	15,488
Two Years before Current Year	12,643	29,383
Three Years before Current Year	22,292	10,897
Four Years before Current Year	6,434	302
Prior	318	238
Revolving	11,886	12,740
Converted to term loans	4,163	4,157
Total	113,439	110,768
30-59 days past due
Credit risk profile by internally assigned grade for loans
Total	4,267	5,703
30-59 days past due | Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	809
Four Years before Current Year	0	0
Prior	1,920	2,210
Revolving	0	0
Converted to term loans	0	0
Total	1,920	3,019
30-59 days past due | Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	457	296
Converted to term loans	512	313
Total	969	609
30-59 days past due | Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
30-59 days past due | Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
30-59 days past due | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Total	0	0
30-59 days past due | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Total	0	0
30-59 days past due | Consumer
Credit risk profile by internally assigned grade for loans
Current Year	185	202
One Year before Current Year	187	181
Two Years before Current Year	126	517
Three Years before Current Year	377	234
Four Years before Current Year	170	15
Prior	2	0
Revolving	96	156
Converted to term loans	35	70
Total	1,178	1,375
30-59 days past due | Commercial
Credit risk profile by internally assigned grade for loans
Total	200	700
60-89 days past due
Credit risk profile by internally assigned grade for loans
Total	3,238	2,749
60-89 days past due | Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	2,414	1,468
Revolving	0	0
Converted to term loans	0	0
Total	2,414	1,468
60-89 days past due | Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	64	16
Converted to term loans	0	70
Total	64	86
60-89 days past due | Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
60-89 days past due | Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
60-89 days past due | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Total	0	0
60-89 days past due | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Total	0	0
60-89 days past due | Consumer
Credit risk profile by internally assigned grade for loans
Current Year	0	59
One Year before Current Year	56	127
Two Years before Current Year	115	392
Three Years before Current Year	278	183
Four Years before Current Year	97	8
Prior	4	0
Revolving	23	7
Converted to term loans	48	106
Total	621	882
60-89 days past due | Commercial
Credit risk profile by internally assigned grade for loans
Total	139	313
Greater than 89 days past due
Credit risk profile by internally assigned grade for loans
Total	6,632	8,792
Greater than 89 days past due | Real estate | Residential 1-4 family
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	2,987
Three Years before Current Year	0	0
Four Years before Current Year	809	0
Prior	3,494	3,085
Revolving	0	0
Converted to term loans	0	0
Total	4,303	6,072
Greater than 89 days past due | Real estate | Home equity line of credit
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	745	838
Converted to term loans	295	496
Total	1,040	1,334
Greater than 89 days past due | Real estate | Residential land
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	397	397
Revolving	0	0
Converted to term loans	0	0
Total	397	397
Greater than 89 days past due | Real estate | Residential construction
Credit risk profile by internally assigned grade for loans
Current Year	0	0
One Year before Current Year	0	0
Two Years before Current Year	0	0
Three Years before Current Year	0	0
Four Years before Current Year	0	0
Prior	0	0
Revolving	0	0
Converted to term loans	0	0
Total	0	0
Greater than 89 days past due | Real estate | Commercial real estate
Credit risk profile by internally assigned grade for loans
Total	0	0
Greater than 89 days past due | Real estate | Commercial construction
Credit risk profile by internally assigned grade for loans
Total	0	0
Greater than 89 days past due | Consumer
Credit risk profile by internally assigned grade for loans
Current Year	0	14
One Year before Current Year	43	93
Two Years before Current Year	55	387
Three Years before Current Year	253	192
Four Years before Current Year	200	27
Prior	9	0
Revolving	111	141
Converted to term loans	181	87
Total	852	941
Greater than 89 days past due | Commercial
Credit risk profile by internally assigned grade for loans
Total	$ 40	$ 48

Bank segment - Credit risk pr_2

Bank segment - Credit risk profile - payment activity (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Credit risk profile based on payment activity for loans
Total financing receivables	$ 5,193,260	$ 5,221,204
Amortized cost> 90 days and accruing	0	0
Real estate
Credit risk profile based on payment activity for loans
Total financing receivables	4,368,723	4,313,934
Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,279,671	2,299,212
Amortized cost> 90 days and accruing	0	0
Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,115,632	1,056,982
Amortized cost> 90 days and accruing	0	0
Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	845,271	835,663
Amortized cost> 90 days and accruing	0	0
Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	22,309	19,859
Amortized cost> 90 days and accruing	0	0
Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	90,332	91,080
Amortized cost> 90 days and accruing	0	0
Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	15,508	11,138
Amortized cost> 90 days and accruing	0	0
Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	708,447	793,304
Amortized cost> 90 days and accruing	0	0
Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	116,090	113,966
Amortized cost> 90 days and accruing	0	0
30-59 days past due
Credit risk profile based on payment activity for loans
Total financing receivables	4,267	5,703
30-59 days past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	1,920	3,019
30-59 days past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	969	609
30-59 days past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
30-59 days past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	200	700
30-59 days past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	1,178	1,375
60-89 days past due
Credit risk profile based on payment activity for loans
Total financing receivables	3,238	2,749
60-89 days past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,414	1,468
60-89 days past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	64	86
60-89 days past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
60-89 days past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	139	313
60-89 days past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	621	882
Greater than 90 days
Credit risk profile based on payment activity for loans
Total financing receivables	6,632	8,792
Greater than 90 days | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	4,303	6,072
Greater than 90 days | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	1,040	1,334
Greater than 90 days | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	397	397
Greater than 90 days | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Greater than 90 days | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	40	48
Greater than 90 days | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	852	941
Total past due
Credit risk profile based on payment activity for loans
Total financing receivables	14,137	17,244
Total past due | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	8,637	10,559
Total past due | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	2,073	2,029
Total past due | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	397	397
Total past due | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	0	0
Total past due | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	379	1,061
Total past due | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	2,651	3,198
Current
Credit risk profile based on payment activity for loans
Total financing receivables	5,179,123	5,203,960
Current | Real estate | Residential 1-4 family
Credit risk profile based on payment activity for loans
Total financing receivables	2,271,034	2,288,653
Current | Real estate | Commercial real estate
Credit risk profile based on payment activity for loans
Total financing receivables	1,115,632	1,056,982
Current | Real estate | Home equity line of credit
Credit risk profile based on payment activity for loans
Total financing receivables	843,198	833,634
Current | Real estate | Residential land
Credit risk profile based on payment activity for loans
Total financing receivables	21,912	19,462
Current | Real estate | Commercial construction
Credit risk profile based on payment activity for loans
Total financing receivables	90,332	91,080
Current | Real estate | Residential construction
Credit risk profile based on payment activity for loans
Total financing receivables	15,508	11,138
Current | Commercial
Credit risk profile based on payment activity for loans
Total financing receivables	708,068	792,243
Current | Consumer
Credit risk profile based on payment activity for loans
Total financing receivables	$ 113,439	$ 110,768

Bank segment - Credit risk pr_3

Bank segment - Credit risk profile - nonaccrual loans (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2022	Jun. 30, 2021	Dec. 31, 2021
Credit risk profile based on nonaccrual loans
With a Related ACL	$ 18,816		$ 37,764
Without a Related ACL	18,452		7,210
Total	37,268		44,974
Total troubled debt restructuring loans not included above	23,728	$ 24,917
Real estate | Residential 1-4 family
Credit risk profile based on nonaccrual loans
With a Related ACL	12,583		16,045
Without a Related ACL	3,909		3,703
Total	16,492		19,748
Total troubled debt restructuring loans not included above	7,296	6,949
Real estate | Commercial real estate
Credit risk profile based on nonaccrual loans
With a Related ACL	0		14,104
Without a Related ACL	12,530		1,221
Total	12,530		15,325
Total troubled debt restructuring loans not included above	2,888	3,055
Real estate | Home equity line of credit
Credit risk profile based on nonaccrual loans
With a Related ACL	3,371		4,227
Without a Related ACL	1,054		1,294
Total	4,425		5,521
Total troubled debt restructuring loans not included above	5,437	6,021
Real estate | Residential land
Credit risk profile based on nonaccrual loans
With a Related ACL	0		97
Without a Related ACL	397		300
Total	397		397
Total troubled debt restructuring loans not included above	976	980
Real estate | Commercial construction
Credit risk profile based on nonaccrual loans
With a Related ACL	0		0
Without a Related ACL	0		0
Total	0		0
Total troubled debt restructuring loans not included above	0	0
Real estate | Residential construction
Credit risk profile based on nonaccrual loans
With a Related ACL	0		0
Without a Related ACL	0		0
Total	0		0
Total troubled debt restructuring loans not included above	0	0
Commercial
Credit risk profile based on nonaccrual loans
With a Related ACL	1,307		1,446
Without a Related ACL	562		692
Total	1,869		2,138
Total troubled debt restructuring loans not included above	7,079	7,860
Consumer
Credit risk profile based on nonaccrual loans
With a Related ACL	1,555		1,845
Without a Related ACL	0		0
Total	1,555		$ 1,845
Total troubled debt restructuring loans not included above	$ 52	$ 52

Bank segment - Loan modificatio

Bank segment - Loan modifications (Details) - Troubled debt restructurings real estate loans $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	17
Outstanding recorded investment	$ 9,265
Related allowance	$ 349
Real estate | Residential 1-4 family
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	12
Outstanding recorded investment	$ 8,283
Related allowance	$ 298
Real estate | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	1
Outstanding recorded investment	$ 482
Related allowance	$ 0
Real estate | Home equity line of credit
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	1
Outstanding recorded investment	$ 170
Related allowance	$ 21
Real estate | Residential land
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	1
Outstanding recorded investment	$ 271
Related allowance	$ 11
Real estate | Commercial construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0
Outstanding recorded investment	$ 0
Related allowance	$ 0
Real estate | Residential construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0
Outstanding recorded investment	$ 0
Related allowance	$ 0
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	2
Outstanding recorded investment	$ 59
Related allowance	$ 19
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number  of contracts | contract	0
Outstanding recorded investment	$ 0
Related allowance	$ 0

Bank segment - Troubled debt re

Bank segment - Troubled debt restructuring - narrative (Details) - Troubled debt restructurings real estate loans - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Financing Receivable, Impaired [Line Items]
Financing receivable modifications minimum, period of payment default of loans determined to be TDRs (in days)	90 days	90 days
Commitments to lend additional funds to borrows with impaired or modified loans	$ 0		$ 0
Consumer mortgage loans collateralized by residential real estate property in foreclosure process	$ 4		$ 3.4

Bank segment - Collateral-depen

Bank segment - Collateral-dependent loans (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Residential real estate property | Real estate | Residential 1-4 family
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	$ 4,500	$ 3,493
Residential real estate property | Real estate | Home equity line of credit
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	1,034	1,294
Residential real estate property | Real estate | Residential land
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	397	300
Commercial real estate | Real estate | Commercial real estate
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	1,200	1,221
Collateral pledged
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	7,693	7,000
Collateral pledged | Real estate
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	7,131	6,308
Business assets | Commercial
Financing Receivable, Nonaccrual [Line Items]
Collateral-dependent loans, amortized cost	$ 562	$ 692

Bank segment - Mortgage servici

Bank segment - Mortgage servicing rights (Details) - American Savings Bank (ASB) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Servicing Asset at Amortized Cost [Line Items]
Mortgage service fees	$ 900	$ 900
Mortgage servicing rights
Servicing asset - beginning balance	9,950
Servicing asset - ending balance	10,024
Residential loan
Servicing Asset at Amortized Cost [Line Items]
Proceeds from sale of residential loans	75,600	170,900
Gain on sale of mortgage loans	1,100	4,300
Servicing contracts
Changes in Carrying Value of MSRs
Gross carrying amount	19,137		$ 18,674
Accumulated amortization	(9,113)		(8,724)
Valuation allowance	0	(4)	0
Net carrying amount	10,024	10,685	9,950
Mortgage servicing rights
Servicing asset - beginning balance	9,950	10,280
Amount capitalized	719	1,547
Amortization	(645)	(1,138)
Other-than-temporary impairment	0	0
Servicing asset - ending balance	10,024	10,689
Valuation allowance for mortgage servicing rights
Valuation allowance, beginning balance	0	260
Provision	0	(256)
Other-than-temporary impairment	0	0
Valuation allowance, ending balance	0	$ 4
Unpaid principal balance	1,488,591		1,481,899
Prepayment rate:
25 basis points adverse rate change	(360)		(714)
50 basis points adverse rate change	(809)		(1,608)
Discount rate:
25 basis points adverse rate change	(160)		(129)
50 basis points adverse rate change	$ (318)		$ (256)
Servicing contracts | Weighted average note rate
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.0334		0.0338
Servicing contracts | Weighted average discount rate
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.0925		0.0925
Servicing contracts | Weighted average prepayment speed
Valuation allowance for mortgage servicing rights
Weighted average measurement input	0.0706		0.0977

Bank segment - Other borrowings

Bank segment - Other borrowings (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Offsetting Liabilities [Line Items]
Gross amount  of recognized  liabilities	$ 137	$ 88
Gross amount  offset in the  Balance Sheets	0	0
Net amount of liabilities presented in the Balance Sheets	137	88
Commercial account holders
Offsetting Liabilities [Line Items]
Net amount of liabilities presented in the Balance Sheets	137	88
Financial instruments	161	161
Cash collateral pledged	$ 0	$ 0

Bank segment - Derivatives (Det

Bank segment - Derivatives (Details) - Derivative Financial Instruments Not Designated as Hedging Instruments - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivative instrument
Asset derivatives	$ 208		$ 638
Liability derivatives	58		11
Net gains (losses) recognized in the Statement of Income	(477)	$ (3,258)
Interest rate lock commitments
Derivative instrument
Notional amount	12,342		39,377
Fair value	(18)		638
Asset derivatives	40		638
Liability derivatives	58		0
Interest rate lock commitments | Mortgage banking income
Derivative instrument
Net gains (losses) recognized in the Statement of Income	(655)	(4,098)
Forward commitments
Derivative instrument
Notional amount	11,750		38,000
Fair value	168		(11)
Asset derivatives	168		0
Liability derivatives	0		$ 11
Forward commitments | Mortgage banking income
Derivative instrument
Net gains (losses) recognized in the Statement of Income	$ 178	$ 840

Bank segment - Contingencies (D

Bank segment - Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
American Savings Bank (ASB)
Loss Contingencies [Line Items]
Unfunded commitments to fund the company's LIHTC	$ 62.8	$ 62.8

Credit agreements - Narrative (

Credit agreements - Narrative (Details) - Hawaiian Electric Company, Inc. and Subsidiaries	May 14, 2021USD ($)institutionextensionOption	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Credit Facilities
Credit agreement
Number of financial institutions | institution	9
Line of credit outstanding		$ 0	$ 0
HEI Facility
Credit agreement
Credit agreement	$ 175,000,000
Hawaiian Electric Facility
Credit agreement
Credit agreement	$ 275,000,000
Number of extension options | extensionOption	2
Extension period	1 year
Hawaiian Electric Facility | Line of credit facility
Credit agreement
Credit agreement	$ 200,000,000

Shareholders' equity - Accumula

Shareholders' equity - Accumulated other comprehensive income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,390,884	$ 2,337,502
Current period other comprehensive income (loss)	(117,159)	(44,016)
Ending balance	2,303,642	2,321,293
AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(52,533)	(1,264)
Current period other comprehensive income (loss)	(117,159)	(44,016)
Ending balance	(169,692)	(45,280)
Net unrealized gains (losses) on securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(32,037)	19,986
Current period other comprehensive income (loss)	(120,407)	(45,777)
Ending balance	(152,444)	(25,791)
Unrealized gains (losses) on derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,638)	(3,363)
Current period other comprehensive income (loss)	3,072	1,562
Ending balance	(566)	(1,801)
Retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(16,858)	(17,887)
Current period other comprehensive income (loss)	176	199
Ending balance	(16,682)	(17,688)
Hawaiian Electric Company, Inc. and Subsidiaries
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	2,261,899	2,141,918
Current period other comprehensive income (loss)	51	34
Ending balance	2,276,884	2,157,385
Hawaiian Electric Company, Inc. and Subsidiaries | AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,280)	(2,919)
Current period other comprehensive income (loss)	51	34
Ending balance	(3,229)	(2,885)
Hawaiian Electric Company, Inc. and Subsidiaries | Retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,280)	(2,919)
Current period other comprehensive income (loss)	51	34
Ending balance	$ (3,229)	$ (2,885)

Shareholders' equity - Reclassi

Shareholders' equity - Reclassification out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reclassifications out of accumulated other comprehensive income/(loss)
Gain on sale of investment securities, net	$ (8,123)	$ (528)
Interest expense	24,349	23,736
Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	231	(188)
Hawaiian Electric Company, Inc. and Subsidiaries
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(46,908)	(43,857)
Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	51	34
Net realized gains on securities included in net income | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Gain on sale of investment securities, net	0	(387)
Net realized losses on derivatives qualifying as cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Interest expense	55	0
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	4,501	6,010
Amortization of prior service credit and net losses recognized during the period in net periodic benefit cost | Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	4,376	5,845
Impact of D&Os of the PUC included in regulatory assets | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	(4,325)	(5,811)
Impact of D&Os of the PUC included in regulatory assets | Hawaiian Electric Company, Inc. and Subsidiaries | Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of accumulated other comprehensive income/(loss)
Total reclassifications	$ (4,325)	$ (5,811)

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 700,831	$ 541,300
Total revenues from other sources	84,237	101,646
Revenues	785,068	642,946
Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,996	11,378
Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	687,835	529,922
Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	224,574	181,239
Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	219,597	168,465
Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	241,123	176,815
Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,426	2,479
Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,996	11,378
Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,115	924
Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	12,886	28,429
Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	59,989	58,620
Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	2,130	7,133
Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	9,232	7,464
Electric utility
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	686,720	528,998
Total revenues from other sources	22,072	35,866
Revenues	708,792	564,864
Electric utility | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Electric utility | Services/goods transferred over time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	686,720	528,998
Electric utility | Electric energy sales - residential
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	224,574	181,239
Electric utility | Electric energy sales - commercial
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	219,597	168,465
Electric utility | Electric energy sales - large light and power
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	241,123	176,815
Electric utility | Electric energy sales - other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,426	2,479
Electric utility | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Electric utility | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Electric utility | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	12,886	28,429
Electric utility | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0
Electric utility | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0
Electric utility | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	9,186	7,437
Bank
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,996	11,378
Total revenues from other sources	62,119	65,753
Revenues	75,115	77,131
Bank | Services/goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,996	11,378
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 | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	12,996	11,378
Bank | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Bank | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0
Bank | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	59,989	58,620
Bank | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	2,130	7,133
Bank | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0
Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,115	924
Total revenues from other sources	46	27
Revenues	1,161	951
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	1,115	924
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 | Bank fees
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0
Other | Other sales
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1,115	924
Other | Regulatory revenue
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0
Other | Bank interest and dividend income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0
Other | Other bank noninterest income
Disaggregation of Revenue [Line Items]
Total revenues from other sources	0	0
Other | Other
Disaggregation of Revenue [Line Items]
Total revenues from other sources	$ 46	$ 27

Retirement benefits (Details)

Retirement benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Defined Benefit Plan
Contributions made to defined benefit plans	$ 10,000	$ 9,000
Contributions expected to be paid in current year	41,000		$ 52,000
Expected payments for remainder of fiscal year	3,000		1,000
Retirement benefits expense	$ 12,000	11,000
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	$ 2,000	1,700
Cash contributions by the employer to defined contribution plan	$ 1,900	1,800
Employer contribution, percent of employee annual compensation	10.00%
Pension benefits
Defined Benefit Plan
Service cost	$ 19,824	20,464
Interest cost	19,811	18,801
Expected return on plan assets	(35,333)	(33,067)
Amortization of net prior period gain	0	0
Amortization of net actuarial (gain) losses	6,297	1,556
Net periodic pension/benefit cost (return)	10,599	7,754
Impact of PUC D&Os	9,551	11,167
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	20,150	18,921
Other benefits
Defined Benefit Plan
Service cost	656	705
Interest cost	1,637	1,569
Expected return on plan assets	(3,397)	(3,233)
Amortization of net prior period gain	(232)	(383)
Amortization of net actuarial (gain) losses	(3)	254
Net periodic pension/benefit cost (return)	(1,339)	(1,088)
Impact of PUC D&Os	1,219	970
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	(120)	(118)
Hawaiian Electric Company, Inc. and Subsidiaries
Defined Benefit Plan
Contributions made to defined benefit plans	10,000	9,000
Contributions expected to be paid in current year	41,000		51,000
Expected payments for remainder of fiscal year	1,000		$ 1,000
Retirement benefits expense	12,000	12,000
Defined contribution plan, expenses recognized	900	800
Cash contributions by the employer to defined contribution plan	900	800
Hawaiian Electric Company, Inc. and Subsidiaries | Pension benefits
Defined Benefit Plan
Service cost	19,318	19,994
Interest cost	18,462	17,531
Expected return on plan assets	(33,546)	(31,368)
Amortization of net prior period gain	0	0
Amortization of net actuarial (gain) losses	6,125	2,559
Net periodic pension/benefit cost (return)	10,359	8,716
Impact of PUC D&Os	9,551	11,167
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	19,910	19,883
Hawaiian Electric Company, Inc. and Subsidiaries | Other benefits
Defined Benefit Plan
Service cost	649	699
Interest cost	1,573	1,504
Expected return on plan assets	(3,347)	(3,182)
Amortization of net prior period gain	(231)	(383)
Amortization of net actuarial (gain) losses	0	250
Net periodic pension/benefit cost (return)	(1,356)	(1,112)
Impact of PUC D&Os	1,219	970
Net periodic pension/benefit cost (adjusted for impact of PUC D&Os)	$ (137)	$ (142)

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($) $ in Millions	Mar. 01, 2014	Mar. 31, 2022	Mar. 31, 2021
Share-based compensation
Income tax benefit from compensation expense		$ 0.3	$ 0.4
Share-based Payment Arrangement, Nonemployee
Share-based compensation
Shares granted (in shares)		0	0
Restricted stock units
Share-based compensation
Fair value of vested stock		$ 3.9	$ 3
Income tax benefit from compensation expense		0.6	0.6
Unrecognized share based compensation		$ 7.6
Weighted average period for recognition of unrecognized compensation cost (in years)		2 years 3 months 18 days
Long-term Incentive Plan
Share-based compensation
Payment award, low end of range		0.00%
Payment award, high end of range		200.00%
Measurement period for total return to shareholders (in years)		3 years
Award performance period (in years)		3 years
LTIP linked to TRS
Share-based compensation
Fair value of vested stock		$ 0.8	0.8
Income tax benefit from compensation expense		0.1	0.2
Unrecognized share based compensation		$ 2.2
Weighted average period for recognition of unrecognized compensation cost (in years)		1 year 9 months 18 days
LTIP awards linked to other performance conditions
Share-based compensation
Fair value of vested stock		$ 3.2	1.7
Income tax benefit from compensation expense		0.4	$ 0.4
Unrecognized share based compensation		$ 6.6
Weighted average period for recognition of unrecognized compensation cost (in years)		1 year 10 months 24 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)		2,800,000
Number of share issuable upon vesting and achievement of performance goals (in shares)		600,000
Nonemployee Director Stock Plan
Share-based compensation
Shares available for future grant (in shares)		244,347

Share-based compensation - Summ

Share-based compensation - Summary of income taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based compensation
Share-based compensation expense	$ 2.1	$ 2.6
Income tax benefit	0.3	0.4
Hawaiian Electric Company, Inc. and Subsidiaries
Share-based compensation
Share-based compensation expense	0.6	1.1
Income tax benefit	$ 0.1	$ 0.3

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
	Mar. 31, 2022	Mar. 31, 2021
Restricted stock units
Shares
Outstanding, beginning of period (in shares)	233,448	193,939
Granted (in shares)	96,455	127,598
Vested (in shares)	(90,380)	(78,988)
Forfeited (in shares)	(31,178)	(6,358)
Outstanding, end of period (in shares)	208,345	236,191
Total weighted-average grant-date fair value of shares granted (in millions)	$ 4	$ 4.3
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 38.10	$ 40.89
Granted (in dollars per share)	41.29	33.98
Vested (in dollars per share)	37.58	38.51
Forfeited (in dollars per share)	38.78	42.20
Outstanding, end of period (in dollars per share)	$ 39.71	$ 37.91
LTIP linked to TRS
Shares
Outstanding, beginning of period (in shares)	90,974	89,222
Granted (in shares)	26,079	44,210
Vested (in shares)	(29,042)	(32,355)
Forfeited (in shares)	(11,671)	(1,024)
Outstanding, end of period (in shares)	76,340	100,053
Total weighted-average grant-date fair value of shares granted (in millions)	$ 1.4	$ 1.8
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 42.86	$ 42.10
Granted (in dollars per share)	54.92	41.12
Vested (in dollars per share)	41.07	38.20
Forfeited (in dollars per share)	42.60	45.89
Outstanding, end of period (in dollars per share)	$ 47.70	$ 42.89
LTIP awards linked to other performance conditions
Shares
Outstanding, beginning of period (in shares)	306,342	220,715
Granted (in shares)	104,300	176,844
Vested (in shares)	(71,807)	(43,155)
Increase above target (cancelled) (in shares)	0	(14,604)
Forfeited (in shares)	(46,684)	(4,098)
Outstanding, end of period (in shares)	292,151	335,702
Total weighted-average grant-date fair value of shares granted (in millions)	$ 4.3	$ 6
Weighted-average grant-date fair value per share
Outstanding, beginning of period (in dollars per share)	$ 38.42	$ 41.03
Granted (in dollars per share)	41.29	33.98
Vested (in dollars per share)	37.68	34.12
Increase above target (in dollars per share)	0	43.90
Forfeited (in dollars per share)	36.77	44.36
Outstanding, end of period (in dollars per share)	$ 39.89	$ 38.04

Share-based compensation - Fair

Share-based compensation - Fair value assumptions (Details) - LTIP linked to TRS - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk-free interest rate		0.19%
Expected life in years		3 years
Expected volatility		29.90%
Range of expected volatility for Peer Group, minimum rate		25.60%
Range of expected volatility for Peer Group, maximum rate		102.90%
Grant date fair value (in dollars per share)		$ 41.12
Forecast
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk-free interest rate	1.71%
Expected life in years	3 years
Expected volatility	31.00%
Range of expected volatility for Peer Group, minimum rate	25.40%
Range of expected volatility for Peer Group, maximum rate	76.70%
Grant date fair value (in dollars per share)	$ 54.92

Income taxes (Details)

Income taxes (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Contingency [Line Items]
Effective income tax, percent	20.00%	19.00%
Hawaiian Electric Company, Inc. and Subsidiaries
Income Tax Contingency [Line Items]
Effective income tax, percent	21.00%	20.00%

Cash flows (Details)

Cash flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	$ 10	$ 15
Supplemental disclosures of noncash activities
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	24	28
Increase related to an acquisition (investing)	15	0
Right-of-use assets obtained in exchange for operating lease obligations (investing)	35	28
Common stock issued (gross) for director and executive/management compensation (financing)	8	6
Unsettled trades to purchase investment securities (investing)	25	0
Other receivable related to pending sales proceeds from the sale of an equity-method investment (investing)	9	0
Hawaiian Electric Company, Inc. and Subsidiaries
Supplemental disclosures of cash flow information
Interest paid to non-affiliates, net of amounts capitalized	6	9
Supplemental disclosures of noncash activities
Unpaid invoices and accruals for capital expenditures, balance, end of period (investing)	21	24
Increase related to an acquisition (investing)	15	0
Right-of-use assets obtained in exchange for operating lease obligations (investing)	$ 32	$ 28

Fair value measurements - Summa

Fair value measurements - Summary of financial assets and liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financial assets
Available-for-sale investment securities	$ 2,621,375	$ 2,574,618
Held-to-maturity investment securities	466,236
Financial liabilities
Short-term borrowings—other than bank	71,491	53,998
Other bank borrowings	137,385	88,305
Carrying or notional amount
Financial assets
Available-for-sale investment securities	2,621,375	2,574,618
Held-to-maturity investment securities	517,150	522,270
Loans, net	5,125,483	5,150,388
Mortgage-servicing rights	10,024	9,950
Derivative assets	30,043	57,377
Financial liabilities
Deposit liabilities	394,015	423,976
Short-term borrowings—other than bank	71,491	53,998
Other bank borrowings	137,385	88,305
Long-term debt, net	2,316,046	2,321,937
Derivative liabilities	31,049	57,000
Carrying or notional amount | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,676,581	1,676,402
Short-term borrowings	6,000
Estimated fair value
Financial assets
Available-for-sale investment securities	2,621,375	2,574,618
Held-to-maturity investment securities	466,236	510,474
Loans, net	5,021,932	5,228,524
Mortgage-servicing rights	16,274	14,480
Derivative assets	992	909
Financial liabilities
Deposit liabilities	386,547	442,361
Short-term borrowings—other than bank	71,491	53,998
Other bank borrowings	137,383	88,304
Long-term debt, net	2,390,702	2,624,130
Derivative liabilities	1,704	5,282
Estimated fair value | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,765,004	1,955,710
Short-term borrowings	6,000
Estimated fair value | Quoted prices in active markets for identical assets (Level 1)
Financial assets
Available-for-sale investment securities	0	0
Held-to-maturity investment securities	0	0
Loans, net	0	0
Mortgage-servicing rights	0	0
Derivative assets	168	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	11
Estimated fair value | Quoted prices in active markets for identical assets (Level 1) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	0	0
Short-term borrowings	0
Estimated fair value | Significant  other observable  inputs (Level 2)
Financial assets
Available-for-sale investment securities	2,606,079	2,559,191
Held-to-maturity investment securities	466,236	510,474
Loans, net	7,932	10,403
Mortgage-servicing rights	0	0
Derivative assets	824	909
Financial liabilities
Deposit liabilities	386,547	442,361
Short-term borrowings—other than bank	71,491	53,998
Other bank borrowings	137,383	88,304
Long-term debt, net	2,390,702	2,624,130
Derivative liabilities	1,704	5,271
Estimated fair value | Significant  other observable  inputs (Level 2) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	1,765,004	1,955,710
Short-term borrowings	6,000
Estimated fair value | Significant unobservable inputs (Level 3)
Financial assets
Available-for-sale investment securities	15,296	15,427
Held-to-maturity investment securities	0	0
Loans, net	5,014,000	5,218,121
Mortgage-servicing rights	16,274	14,480
Derivative assets	0	0
Financial liabilities
Deposit liabilities	0	0
Short-term borrowings—other than bank	0	0
Other bank borrowings	0	0
Long-term debt, net	0	0
Derivative liabilities	0	0
Estimated fair value | Significant unobservable inputs (Level 3) | Hawaiian Electric Company, Inc. and Subsidiaries
Financial liabilities
Long-term debt, net	0	$ 0
Short-term borrowings	$ 0

Fair value measurements - Asset

Fair value measurements - Assets and liabilities measured on a recurring basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair value measurements on a recurring basis
Available-for-sale investment securities	$ 2,621,375	$ 2,574,618
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1)
Derivative liabilities
Derivative liabilities	0	11
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Derivative assets
Derivative assets	168	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Bank | Forward commitments
Derivative assets
Derivative assets	168	0
Derivative liabilities
Derivative liabilities	0	11
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Other | Interest rate swap
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Quoted prices in active markets for identical assets (Level 1) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2)
Derivative liabilities
Derivative liabilities	1,704	5,271
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	2,606,079	2,559,191
Derivative assets
Derivative assets	824	909
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	40	638
Derivative liabilities
Derivative liabilities	58	0
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Bank | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Other | Interest rate swap
Derivative assets
Derivative assets	784	271
Derivative liabilities
Derivative liabilities	1,646	5,271
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	2,456,754	2,437,923
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	106,202	90,090
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	43,123	31,178
Fair value measurements on a recurring basis | Significant  other observable  inputs (Level 2) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3)
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	15,296	15,427
Derivative assets
Derivative assets	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank | Interest rate lock commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Bank | Forward commitments
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Other | Interest rate swap
Derivative assets
Derivative assets	0	0
Derivative liabilities
Derivative liabilities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Mortgage-backed securities — issued or guaranteed by U.S. Government agencies or sponsored agencies | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | U.S. Treasury and federal agency obligations | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Corporate bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	0	0
Fair value measurements on a recurring basis | Significant unobservable inputs (Level 3) | Mortgage revenue bonds | Bank
Fair value measurements on a recurring basis
Available-for-sale investment securities	$ 15,296	$ 15,427

Fair value measurements - Chang

Fair value measurements - Changes in level 3 assets and liabilities (Details) - Mortgage revenue bonds - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 15,427	$ 27,185
Principal payments received	(131)	(11,758)
Purchases	0	0
Unrealized gain (loss) included in other comprehensive income	0	0
Ending balance	$ 15,296	$ 15,427

Fair value measurements - Narra

Fair value measurements - Narrative (Details)	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)
Fair value measurements on a nonrecurring basis | American Savings Bank (ASB)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Adjustments to fair value of loans held for sale	$ 0	$ 0
Weighted average discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage revenue bonds, measurement input	0.0227