2018 Q2 Form 10-Q Financial Statement

#000035470718000058 Filed on August 03, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $685.3M $632.3M
YoY Change 8.38% 11.66%
Cost Of Revenue $606.5M $554.5M
YoY Change 9.38% 15.33%
Gross Profit $78.80M $77.80M
YoY Change 1.29% -9.01%
Gross Profit Margin 11.5% 12.3%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $53.00M $50.00M
YoY Change 6.0% 3.09%
% of Gross Profit 67.26% 64.27%
Operating Expenses $0.00 $0.00
YoY Change
Operating Profit $78.80M $77.80M
YoY Change 1.28% -8.96%
Interest Expense -$17.70M -$16.30M
YoY Change 8.59% 12.41%
% of Operating Profit -22.46% -20.95%
Other Income/Expense, Net -$1.600M -$1.900M
YoY Change -15.79%
Pretax Income $59.58M $59.63M
YoY Change -0.07% -15.91%
Income Tax $13.06M $20.49M
% Of Pretax Income 21.91% 34.37%
Net Earnings $46.53M $39.13M
YoY Change 18.89% -12.26%
Net Earnings / Revenue 6.79% 6.19%
Basic Earnings Per Share $0.42 $0.36
Diluted Earnings Per Share $0.42 $0.36
COMMON SHARES
Basic Shares Outstanding 108.8M shares 108.8M shares
Diluted Shares Outstanding 109.0M shares 108.8M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $255.0M $210.0M
YoY Change 21.43% -18.29%
Cash & Equivalents $254.7M $210.4M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $300.0M $250.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $555.0M $460.0M
YoY Change 20.65% -4.37%
LONG-TERM ASSETS
Property, Plant & Equipment $4.612B $4.727B
YoY Change -2.42% 5.43%
Goodwill $82.19M $82.19M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $1.482B $1.315B
YoY Change 12.7% 45.3%
Other Assets
YoY Change
Total Long-Term Assets $12.33B $12.23B
YoY Change 0.78% 6.4%
TOTAL ASSETS
Total Short-Term Assets $555.0M $460.0M
Total Long-Term Assets $12.33B $12.23B
Total Assets $12.88B $12.69B
YoY Change 1.5% 5.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $214.0M $195.0M
YoY Change 9.74% 50.0%
Accrued Expenses $28.00M $22.00M
YoY Change 27.27% -4.35%
Deferred Revenue
YoY Change
Short-Term Debt $203.0M $50.00M
YoY Change 306.0% -56.9%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $445.0M $267.0M
YoY Change 66.67% -0.74%
LONG-TERM LIABILITIES
Long-Term Debt $1.910B $1.807B
YoY Change 5.7% -2.43%
Other Long-Term Liabilities $8.017B $7.761B
YoY Change 3.3% 8.62%
Total Long-Term Liabilities $9.927B $9.568B
YoY Change 3.75% 6.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $445.0M $267.0M
Total Long-Term Liabilities $9.927B $9.568B
Total Liabilities $10.75B $10.58B
YoY Change 1.53% 6.07%
SHAREHOLDERS EQUITY
Retained Earnings $495.7M $444.4M
YoY Change 11.53% 32.9%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.103B $2.075B
YoY Change
Total Liabilities & Shareholders Equity $12.88B $12.69B
YoY Change 1.5% 5.97%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $46.53M $39.13M
YoY Change 18.89% -12.26%
Depreciation, Depletion And Amortization $53.00M $50.00M
YoY Change 6.0% 3.09%
Cash From Operating Activities $73.60M $127.1M
YoY Change -42.09% 131.93%
INVESTING ACTIVITIES
Capital Expenditures -$117.3M -$119.1M
YoY Change -1.51% 57.12%
Acquisitions
YoY Change
Other Investing Activities -$43.10M -$84.00M
YoY Change -48.69% -10.64%
Cash From Investing Activities -$160.3M -$203.0M
YoY Change -21.03% 19.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 96.60M 52.00M
YoY Change 85.77% 39.04%
NET CHANGE
Cash From Operating Activities 73.60M 127.1M
Cash From Investing Activities -160.3M -203.0M
Cash From Financing Activities 96.60M 52.00M
Net Change In Cash 9.900M -23.90M
YoY Change -141.42% -69.16%
FREE CASH FLOW
Cash From Operating Activities $73.60M $127.1M
Capital Expenditures -$117.3M -$119.1M
Free Cash Flow $190.9M $246.2M
YoY Change -22.46% 88.51%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
HAWAIIAN ELECTRIC INDUSTRIES INC
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DebtSecuritiesHeldToMaturitySecuritiesLessThan12MonthsNumberOfIssues
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DebtSecuritiesHeldToMaturitySecuritiesLessThan12MonthsNumberOfIssues
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CY2017Q4 he Debt Securities Held To Maturity Securities More Than12 Months Number Of Issues
DebtSecuritiesHeldToMaturitySecuritiesMoreThan12MonthsNumberOfIssues
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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
dei Document Period End Date
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2018-06-30
dei Document Type
DocumentType
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us-gaap Adjustment For Amortization
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us-gaap Allocated Share Based Compensation Expense
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AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
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us-gaap Available For Sale Debt Securities Gross Unrealized Gain
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CY2018Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
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77526000 USD
CY2018Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
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75563000 USD
CY2018Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
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105425000 USD
CY2018Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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104020000 USD
CY2018Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
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27788000 USD
CY2018Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
27253000 USD
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231696000 USD
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235744000 USD
CY2018Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
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25005000 USD
CY2018Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
24860000 USD
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1218313000 USD
CY2018Q2 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
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1177832000 USD
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1409528000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
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38000000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
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42000000 USD
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278452000 USD
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CashAndCashEquivalentsAtCarryingValue
210381000 USD
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261881000 USD
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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0.31
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0.62
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0.31
us-gaap Common Stock Dividends Per Share Declared
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0.62
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200000000 shares
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200000000 shares
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1665901000 USD
CY2017Q2 us-gaap Comprehensive Income Net Of Tax
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41031000 USD
us-gaap Comprehensive Income Net Of Tax
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76209000 USD
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42229000 USD
us-gaap Comprehensive Income Net Of Tax
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69703000 USD
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554479000 USD
us-gaap Costs And Expenses
CostsAndExpenses
1076303000 USD
CY2018Q2 us-gaap Costs And Expenses
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606478000 USD
us-gaap Costs And Expenses
CostsAndExpenses
1180463000 USD
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3200000 USD
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5890597000 USD
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522208000 USD
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523501000 USD
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13991000 USD
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23593000 USD
CY2017Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
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85 issue
CY2018Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
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92 issue
CY2017Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
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736772000 USD
CY2018Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
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817048000 USD
CY2017Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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7664000 USD
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21381000 USD
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82 issue
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104 issue
us-gaap Deferred Income Tax Expense Benefit
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17047000 USD
us-gaap Deferred Income Tax Expense Benefit
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375832000 USD
CY2017Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Remainder Of Fiscal Year
DefinedBenefitPlanExpectedFutureBenefitPaymentsRemainderOfFiscalYear
1000000 USD
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DefinedBenefitPlanExpectedFutureBenefitPaymentsRemainderOfFiscalYear
2000000 USD
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
3300000 USD
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6116109000 USD
us-gaap Depreciation
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100062000 USD
us-gaap Depreciation
Depreciation
106063000 USD
us-gaap Dividends Common Stock Cash
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67426000 USD
us-gaap Dividends Common Stock Cash
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67481000 USD
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EarningsPerShareBasic
0.36
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.42
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.79
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.36
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.67
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.42
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.79
CY2017Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
800000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1200000 USD
CY2018Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
500000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
700000 USD
CY2017Q4 us-gaap Federal Home Loan Bank Stock
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9706000 USD
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FederalHomeLoanBankStock
10158000 USD
CY2016Q4 us-gaap Financing Receivable Allowance For Credit Losses
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CY2017Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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FinancingReceivableAllowanceForCreditLosses
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CY2017Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
53637000 USD
CY2018Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
53895000 USD
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FinancingReceivableAllowanceForCreditLosses
52803000 USD
CY2017Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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50907000 USD
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49955000 USD
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2730000 USD
CY2018Q2 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
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2848000 USD
CY2017Q2 us-gaap Financing Receivable Allowance For Credit Losses Recovery
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759000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
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1656000 USD
CY2018Q2 us-gaap Financing Receivable Allowance For Credit Losses Recovery
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726000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
2316000 USD
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3234000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
7574000 USD
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FinancingReceivableAllowanceForCreditLossesWriteOffs
4581000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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9454000 USD
CY2017Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
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CY2018Q2 us-gaap Financing Receivable Collectively Evaluated For Impairment
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4735830000 USD
CY2017Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
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33393000 USD
CY2018Q2 us-gaap Financing Receivable Individually Evaluated For Impairment
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39583000 USD
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20814000 USD
us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
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24133000 USD
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0 USD
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0 USD
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23591000 USD
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27220000 USD
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23603000 USD
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FinancingReceivableRecordedInvestmentPastDue
25581000 USD
CY2017Q4 us-gaap Goodwill
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CY2018Q2 us-gaap Goodwill
Goodwill
82190000 USD
CY2017Q4 us-gaap Held To Maturity Securities
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44515000 USD
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HeldToMaturitySecurities
62630000 USD
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1000 USD
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41000 USD
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104000 USD
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1227000 USD
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0 USD
CY2018Q2 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
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0 USD
CY2017Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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104000 USD
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1227000 USD
CY2017Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
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35744000 USD
CY2018Q2 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
41138000 USD
CY2017Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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0 USD
CY2018Q2 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
0 USD
CY2018Q2 us-gaap Held To Maturity Securities Debt Maturities Single Maturity Date Amortized Cost Basis
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62630000 USD
CY2018Q2 us-gaap Held To Maturity Securities Debt Maturities Single Maturity Date Fair Value
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61444000 USD
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HeldToMaturitySecuritiesFairValue
44412000 USD
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61444000 USD
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34753000 USD
us-gaap Impaired Financing Receivable Average Recorded Investment
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38840000 USD
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37478000 USD
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
35588000 USD
CY2017Q2 us-gaap Impaired Financing Receivable Interest Income Accrual Method
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419000 USD
us-gaap Impaired Financing Receivable Interest Income Accrual Method
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1169000 USD
CY2018Q2 us-gaap Impaired Financing Receivable Interest Income Accrual Method
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307000 USD
us-gaap Impaired Financing Receivable Interest Income Accrual Method
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658000 USD
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33393000 USD
CY2018Q2 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
39583000 USD
CY2017Q4 us-gaap Impaired Financing Receivable Related Allowance
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2730000 USD
CY2018Q2 us-gaap Impaired Financing Receivable Related Allowance
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2848000 USD
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35615000 USD
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41915000 USD
CY2017Q2 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
14873000 USD
us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
16258000 USD
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ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
15447000 USD
us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
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14588000 USD
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148000 USD
us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
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278000 USD
CY2018Q2 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
72000 USD
us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeAccrualMethod
199000 USD
CY2017Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
14072000 USD
CY2018Q2 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
16803000 USD
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16041000 USD
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18862000 USD
CY2017Q2 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
19880000 USD
us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
22582000 USD
CY2018Q2 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
22031000 USD
us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
21000000 USD
CY2017Q2 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
271000 USD
us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
891000 USD
CY2018Q2 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
235000 USD
us-gaap Impaired Financing Receivable With Related Allowance Interest Income Accrual Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeAccrualMethod
459000 USD
CY2017Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
19321000 USD
CY2018Q2 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
22780000 USD
CY2017Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
19574000 USD
CY2018Q2 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
23053000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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59626000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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111208000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
59582000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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112858000 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
20492000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
37408000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13055000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25611000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
21000000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
36000000 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
175457000 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
123137000 USD
us-gaap Increase Decrease In Fuel Inventories
IncreaseDecreaseInFuelInventories
5962000 USD
us-gaap Increase Decrease In Fuel Inventories
IncreaseDecreaseInFuelInventories
19867000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
33922000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
22695000 USD
us-gaap Increase Decrease In Other Regulatory Assets
IncreaseDecreaseInOtherRegulatoryAssets
-8179000 USD
us-gaap Increase Decrease In Other Regulatory Assets
IncreaseDecreaseInOtherRegulatoryAssets
19600000 USD
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
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