NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Segment financial information was as follows: (in thousands) 2019 Revenues from external customers
Electric utility $
2,545,865
Intersegment revenues (eliminations) Revenues Depreciation and amortization Interest expense, net Income (loss) before income taxes Income taxes (benefit) Net income (loss) Preferred stock dividends of subsidiaries Net income (loss) for common stock Capital expenditures Assets (at December 31, 2019) 2018 Revenues from external customers
$
Depreciation and amortization
$
328,570
Other $
166
Total $
2,874,601
77
—
2,545,942
328,570
89
2,874,601
245,362
28,675
4,076
278,113
(77)
—
70,842
18,440
20,057
109,339
197,140
112,034
(37,765)
271,409
38,305
23,061
(9,729)
51,637
158,835
88,973
(28,036)
219,772
1,995
—
(105)
1,890
156,840
88,973
(27,931)
217,882
419,898
24,175
13,447
457,520
6,388,682
7,233,017
123,552
13,745,251
2,546,472
Intersegment revenues (eliminations) Revenues
Bank
$
314,275
53
—
2,546,525
314,275
$
102
$
2,860,849
(53)
—
49
2,860,849
230,228
21,443
3,958
255,629
73,348
15,539
15,329
104,216
180,426
106,578
(32,543)
254,461
34,778
24,069
(8,050)
50,797
145,648
82,509
(24,493)
203,664
1,995
—
(105)
1,890
Net income (loss) for common stock
143,653
82,509
(24,388)
201,774
Capital expenditures1 Assets (at December 31, 2018)
415,264
72,666
18,840
537,369
5,967,503
7,027,894
108,654
13,104,051
Interest expense, net Income (loss) before income taxes Income taxes (benefit) Net income (loss) Preferred stock dividends of subsidiaries
2017 Revenues from external customers
$
2,257,455
Intersegment revenues (eliminations) Revenues Depreciation and amortization Interest expense, net Income (loss) before income taxes Income taxes (benefit) Net income (loss) Preferred stock dividends of subsidiaries Net income (loss) for common stock Capital expenditures1 Assets (at December 31, 2017) 1
$
297,640
$
530
$
2,555,625
111
—
(111)
—
2,257,566
297,640
419
2,555,625
201,282
19,416
1,300
221,998
69,637
12,156
9,335
91,128
205,145
98,716
(27,281)
276,580
83,199
31,719
(5,525)
109,393
121,946
66,997
(21,756)
167,187
1,995
—
(105)
1,890
119,951
66,997
(21,651)
165,297
376,865 5,630,613
53,272 6,798,659
317 104,888
495,187 12,534,160
Contributions in aid of construction balances are included in capital expenditures.
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. Bank fees that ASB charges the Utilities and “other” segments are not eliminated because those segments would pay fees to another financial institution if they were to bank with another institution and the profit on such fees is nominal. Hamakua Energy’s sales to Hawaii Electric Light (a regulated affiliate) are eliminated in consolidation.
100