Consolidated Statements of Income Hawaiian Electric Industries, Inc. and Subsidiaries Years ended December 31
2013
2012
2011
(in thousands, except per share amounts) Revenues Electric utility Bank
$
2,980,172 258,147
Other
151
17
3,238,470
3,374,995
3,242,335
2,734,659
2,896,427
2,763,556
171,090
177,106
172,806
Total revenues
$
3,109,439 265,539
$
2,978,690 264,407 (762)
Expenses Electric utility Bank Other Total expenses
17,302
17,266
16,277
2,923,051
3,090,799
2,952,639
245,513
213,012
215,134
Operating income (loss) Electric utility Bank
87,057
88,433
91,601
Other
(17,151)
(17,249)
(17,039)
315,419
284,196
289,696
(75,479) 2,246
(78,151) 4,355
(82,106) 2,498
5,561
7,007
5,964
Total operating income Interest expense, net – other than on deposit liabilities and other bank borrowings Allowance for borrowed funds used during construction Allowance for equity funds used during construction Income before income taxes
247,747
217,407
216,052
Income taxes
84,341
76,859
75,932
Net income
163,406
140,548
140,120
1,890
1,890
1,890
Preferred stock dividends of subsidiaries Net income for common stock
$
161,516
$
138,658
$
138,230
Basic earnings per common share
$
1.63
$
1.43
$
1.45
Diluted earnings per common share
$
1.62
$
1.42
$
1.44
Dividends per common share
$
1.24 98,968
$
1.24 96,908
$
1.24 95,510
Weighted-average number of common shares outstanding Net effect of potentially dilutive shares Adjusted weighted-average shares
The accompanying notes are an integral part of these consolidated financial statements.
79
655
430
310
99,623
97,338
95,820