Hawaiian Electric Industries, Inc
(NYSE:HE)

Hawaiian Electric Industries, Inc., through its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the...

Website: http://www.hei.com

Founded: 1891

Full Time Employees: 3,841

Sector: Utilities

Industry: Utilities-Regulated Electric

Utilities

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Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2019-12-31	2019-09-30	2018-12-31	2018-09-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31	2003-09-30	2003-06-30	2002-09-30	2002-06-30

revenues
electric utility	744,040,000	802,906,000	787,428,000	742,482,000	738,366,000	796,174,000	829,617,000	792,331,000	788,578,000	849,982,000	794,987,000	794,191,000	830,361,000	924,951,000	955,971,000	818,873,000	708,792,000	693,394,000	679,499,000	601,879,000	564,864,000	571,095,000	562,568,000	534,215,000	645,333,000	688,330,000	680,563,000	687,409,000	570,427,000	583,311,000	598,769,000	556,875,000	518,611,000	544,668,000	572,253,000	482,052,000	648,127,000	558,163,000	573,442,000	803,565,000	738,429,000	720,062,000	766,115,000	730,688,000	719,273,000	801,095,000	789,552,000	749,610,000	584,095,000	548,111,000	548,440,000	450,417,000	461,797,000	827,788,000	688,121,000	623,889,000	567,615,000	492,712,000	447,678,000	359,250,000	354,529,000	333,636,000	307,676,000
other	2,407,000	2,918,000	3,182,000	3,910,000	5,704,000	3,006,000	3,622,000	3,086,000	3,436,000	3,442,000	5,912,000	4,609,000	4,019,000	4,944,000	4,815,000	1,410,000	1,161,000	1,079,000	1,197,000	1,118,000	951,000	707,000	215,000	16,000	3,000	4,000	-169,000	143,000	28,000	120,000	127,000	77,000	95,000	100,000	94,000	68,000	-42,000	-34,000	72,000	-5,000	-388,000	68,000	56,000	15,000	35,000	29,000	3,959,000	4,348,000	3,516,000	15,000	-74,000	-15,000	-32,000	-32,000	-16,000	-116,000	339,000	525,000	1,885,000	683,000	1,524,000	-1,798,000	-743,000
total revenues	746,447,000	805,824,000	790,610,000	746,392,000	744,070,000	486,949,000	938,383,000	897,360,000	897,158,000	956,371,000	901,873,000	895,685,000	928,237,000	1,019,113,000	1,042,197,000	895,607,000	785,068,000	770,272,000	756,904,000	680,257,000	642,946,000	652,217,000	641,427,000	608,945,000	725,966,000	771,535,000	761,650,000	768,048,000	645,874,000	658,597,000	673,185,000	632,281,000	591,562,000	617,395,000	646,055,000	550,960,000	717,176,000	623,912,000	637,862,000	867,096,000	798,657,000	783,749,000	831,229,000	796,730,000	784,064,000	867,720,000	854,268,000	814,860,000
yoy	0.32%	65.48%	-15.75%	-16.82%	-17.06%	-49.08%	4.05%	0.19%	-3.35%	-6.16%	-13.46%	0.01%	18.24%	32.31%	37.69%	31.66%	22.10%	18.10%	18.00%	11.71%	-11.44%	-15.47%	-15.78%	-20.72%	12.40%	17.15%	13.14%	21.47%	9.18%	6.67%	4.20%	14.76%	-17.52%	-1.04%	1.28%	-36.46%	-10.20%	-20.39%	-23.26%	8.83%	1.86%	-9.68%	-2.70%	-2.22%
qoq	-7.37%	1.92%	5.92%	0.31%	52.80%	-48.11%	4.57%	0.02%	-6.19%	6.04%	0.69%	-3.51%	-8.92%	-2.21%	16.37%	14.08%	1.92%	1.77%	11.27%	5.80%	-1.42%	1.68%	5.33%	-16.12%	-5.91%	1.30%	-0.83%	18.92%	-1.93%	-2.17%	6.47%	6.88%	-4.18%	-4.44%	17.26%	-23.18%	14.95%	-2.19%	-26.44%	8.57%	1.90%	-5.71%	4.33%	1.62%	-9.64%	1.57%	4.84%
expenses
total expenses	693,070,000	738,715,000	738,564,000	692,645,000	681,650,000	424,605,000	1,064,931,000	2,616,335,000	820,739,000	865,375,000	826,762,000	802,706,000	834,719,000	926,099,000	940,082,000	808,939,000	685,792,000	681,409,000	659,588,000	578,401,000	544,915,000	571,543,000	541,866,000	537,389,000	625,171,000	674,227,000	677,046,000	669,984,000	573,985,000	573,609,000	563,640,000	556,385,000	523,700,000	528,968,000	540,613,000	482,109,000	620,081,000	551,182,000	568,356,000	775,994,000	716,382,000	695,443,000	741,130,000	714,360,000	713,407,000	776,018,000	774,862,000	739,044,000
operating income
yoy
qoq
operating margin %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
total operating income	53,377,000	67,109,000	52,046,000	53,747,000	62,420,000	62,344,000	-126,548,000	-1,718,975,000	76,419,000	90,996,000	75,111,000	92,979,000	93,518,000	93,014,000	102,115,000	86,668,000	99,276,000	88,863,000	97,316,000	101,856,000	98,031,000	80,674,000	99,561,000	71,556,000	100,795,000	97,308,000	84,604,000	98,064,000	71,889,000	84,988,000	109,545,000	75,896,000	67,862,000	88,427,000	105,442,000	68,851,000	97,095,000	72,730,000	69,506,000	91,102,000	82,275,000	88,306,000	90,099,000	82,370,000	70,657,000	91,702,000	79,406,000	75,816,000
retirement defined benefits credit—other than service costs	879,000	829,000	817,000	919,000	917,000	85,000	1,106,000	1,281,000	1,282,000	1,207,000	1,256,000	1,153,000	1,152,000	882,000	1,039,000	1,246,000	1,243,000
interest expense	-31,128,000	-29,655,000	-26,211,000	-27,256,000	-34,212,000
allowance for borrowed funds used during construction	1,705,000	1,514,000	1,500,000	1,462,000	1,417,000	1,409,000	1,331,000	1,344,000	1,386,000	1,403,000	1,372,000	1,295,000	1,131,000	1,015,000	825,000	798,000	778,000	864,000	827,000	812,000	747,000	751,000	801,000	752,000	988,000	1,208,000	1,052,000	1,006,000	1,444,000	1,407,000	1,339,000	1,143,000	889,000	868,000	854,000	662,000	737,000	682,000	499,000	740,000	523,000	614,000	498,000	398,000	730,000	688,000	893,000	870,000	790,000	779,000	1,118,000	1,727,000	1,622,000	967,000	835,000	762,000	656,000	586,000	598,000	496,000	446,000	549,000	488,000
allowance for equity funds used during construction	3,764,000	3,905,000	3,821,000	3,702,000	3,585,000	3,510,000	3,300,000	3,336,000	3,640,000	4,091,000	4,000,000	3,772,000	3,301,000	3,143,000	2,552,000	2,470,000	2,409,000	2,539,000	2,427,000	2,377,000	2,191,000	2,212,000	2,347,000	2,194,000	2,652,000	3,250,000	2,638,000	1,962,000	3,294,000	3,575,000	3,482,000	3,027,000	2,399,000	2,315,000	2,274,000	1,739,000	2,057,000	1,896,000	1,413,000	1,937,000	1,387,000	1,609,000	1,255,000	1,560,000	1,215,000	1,611,000	1,997,000	1,940,000	1,847,000	1,773,000	2,628,000	4,120,000	3,605,000	2,426,000	2,105,000	1,901,000	1,336,000	1,202,000	1,232,000	1,098,000	989,000	1,162,000	1,042,000
interest and dividend income	9,995,000
loss on sale of a subsidiary					-13,211,000
income before income taxes	38,592,000					-459,311,250	-149,234,000	-1,742,280,000	54,269,000	56,920,000	49,110,000	69,367,000	70,304,000	70,593,000	79,905,000	66,217,000	87,480,000	69,572,000	78,151,000	82,944,000	80,196,000	61,177,000	79,521,000	60,230,000	81,983,000	78,693,000	64,370,000	77,233,000	53,276,000	70,233,000	95,139,000	59,626,000	51,582,000	72,599,000	179,205,000	51,126,000	80,660,000	56,402,000	52,318,000	74,609,000	64,163,000	71,073,000	71,548,000	64,715,000	52,814,000	73,981,000	62,097,000	60,087,000	45,748,000	42,878,000	52,707,000	22,992,000	32,052,000			53,687,000			9,387,000		40,499,000	51,158,000	48,164,000
income tax expense	8,142,000	12,108,000	8,728,000	13,417,000	6,395,000	9,936,000	-45,303,000	-447,269,000
net income	30,450,000					-339,086,750	-103,931,000	-1,295,011,000	42,595,000	49,262,000	41,589,000	55,083,000	55,194,000	57,821,000	62,553,000	53,014,000	69,640,000	54,994,000	63,886,000	64,345,000	64,831,000	50,958,000	65,503,000	49,360,000	66,736,000	63,890,000	50,046,000	66,371,000	40,720,000	32,843,000	60,544,000	39,134,000	34,666,000	45,107,000	127,613,000	32,825,000	51,144,000	35,491,000	32,339,000	48,286,000	41,894,000	46,400,000	48,707,000	41,061,000	34,152,000	48,177,000	39,273,000	38,789,000	29,735,000	27,599,000	33,954,000	15,952,000	20,868,000	37,281,000	5,136,000	33,967,000	19,881,000	17,549,000	6,764,000	30,522,000	21,890,000	32,777,000	30,984,000
yoy						-788.33%	-349.90%	-2451.02%	-22.83%	-14.80%	-33.51%	3.90%	-20.74%	5.14%	-2.09%	-17.61%	7.42%	7.92%	-2.47%	30.36%	-2.85%	-20.24%	30.89%	-25.63%	63.89%	94.53%	-17.34%	69.60%	17.46%	-27.19%	-52.56%	19.22%	-32.22%	27.09%	294.61%	-32.02%	22.08%	-23.51%	-33.61%	17.60%	22.67%	-3.69%	24.02%	5.86%	14.85%	74.56%	15.67%	143.16%	42.49%	-25.97%	561.10%	-53.04%	4.96%	112.44%	-24.07%	11.29%	-9.18%	-46.46%	-78.17%
qoq						226.26%	-91.97%	-3140.29%	-13.53%	18.45%	-24.50%	-0.20%	-4.54%	-7.56%	17.99%	-23.87%	26.63%	-13.92%	-0.71%	-0.75%	27.22%	-22.21%	32.70%	-26.04%	4.45%	27.66%	-24.60%	62.99%	23.98%	-45.75%	54.71%	12.89%	-23.15%	-64.65%	288.77%	-35.82%	44.10%	9.75%	-33.03%	15.26%	-9.71%	-4.74%	18.62%	20.23%	-29.11%	22.67%	1.25%	30.45%	7.74%	-18.72%	112.85%	-23.56%	-44.03%	625.88%	-84.88%	70.85%	13.29%	159.45%	-77.84%	39.43%	-33.22%	5.79%
net income margin %	4.08%	0%	0%	0%	0%	-69.63%	-11.08%	-144.31%	4.75%	5.15%	4.61%	6.15%	5.95%	5.67%	6.00%	5.92%	8.87%	7.14%	8.44%	9.46%	10.08%	7.81%	10.21%	8.11%	9.19%	8.28%	6.57%	8.64%	6.30%	4.99%	8.99%	6.19%	5.86%	7.31%	19.75%	5.96%	7.13%	5.69%	5.07%	5.57%	5.25%	5.92%	5.86%	5.15%	4.36%	5.55%	4.60%	4.76%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
preferred stock dividends of subsidiaries		354,250	471,000	473,000	473,000	473,000	471,000	473,000	473,000	473,000	471,000	473,000	473,000	473,000	471,000	473,000	473,000	473,000	471,000	473,000	473,000	473,000	471,000	473,000	473,000	471,000	473,000	471,000	473,000	473,000	471,000	473,000	473,000	473,000	471,000	473,000	471,000	473,000	473,000	471,000	473,000	473,000	471,000	473,000	473,000	471,000	473,000	473,000	473,000	473,000				-471,000	-473,000	-473,000	-474,000	-473,000	-473,000	-501,000	-501,000	-501,000	-502,000
net income for common stock	30,450,000	39,617,000	30,747,000	26,085,000	26,671,000	-68,245,000	-104,402,000	-1,295,484,000	42,122,000	48,789,000	41,118,000	54,610,000	54,721,000	57,348,000	62,082,000	52,541,000	69,167,000	54,521,000	63,415,000	63,872,000	64,358,000	50,485,000	65,032,000	48,887,000	66,263,000	63,419,000	49,573,000	65,900,000	40,247,000	32,370,000	60,073,000	38,661,000	34,193,000	44,634,000	127,142,000	32,352,000	50,673,000	35,018,000	31,866,000	47,815,000	41,421,000	45,927,000	48,236,000	40,588,000	33,679,000	47,706,000	38,800,000	38,316,000	29,262,000	27,126,000	33,483,000	15,479,000	20,395,000
basic earnings per common share	180	230	180	150	150	930	-910	-11,740	380	450	370	500	500	520	570	480	630	500	580	580	590	460	600	450	610	580	450	610	370	300	550	360	310	410	1,170	300	470	330	310	470	410	450	490	410	340	490	400	400	310	290	370	170	230	440	60	410	240	210	80
diluted earnings per common share	180	230	180	150	150	930	-910	-11,740	380	440	370	500	500	520	570	480	630	500	580	580	590	460	590	450	600	580	450	600	370	300	550	360	310	410	1,170	300	470	330	310	460	410	450	480	410	340	490	400	400	310	290	370	170	220	440	60	410	240	210	80
weighted-average number of common shares outstanding	172,626,000	172,553,000				126,927,000			110,218,000	109,739,000	109,728,000	109,573,000	109,514,000	109,434,000	109,470,000	109,432,000	109,361,000	109,282,000	109,311,000	109,282,000	109,221,000	109,140,000	109,181,000	109,146,000	108,949,000	108,973,000	108,855,000	108,879,000	108,818,000	108,749,000	108,786,000	108,750,000	108,674,000	108,102,000	108,268,000	107,620,000	107,457,000	107,418,000	103,281,000	102,416,000	101,495,000	101,382,000	99,204,000	98,660,000	98,135,000	97,157,000	96,693,000	96,167,000	93,159,000	92,572,000	91,522,000	91,384,000	90,604,000	84,625,000	84,052,000	83,472,000	82,481,000	81,907,000	81,448,000	37,516,000	37,195,000	36,435,000	36,189,000
net effect of potentially dilutive shares	700,000								258,000	-27,000	189,000	207,000	311,000	53,000	235,000	230,000	273,000	-18,000	264,000	233,000	271,000	-45,000	155,000	159,000	21,000	390,000	48,000	176,000	206,000	12,000	79,000	47,000	184,000	-13,000	204,000	161,000	281,000	276,000	286,000	610,000	330,000	783,000	614,000	589,000	405,000
weighted-average shares assuming dilution	173,326,000	173,017,000				126,927,000			110,476,000	110,038,000	109,917,000	109,780,000	109,825,000	109,778,000	109,705,000	109,662,000	109,634,000	109,580,000	109,575,000	109,515,000	109,492,000	109,356,000	109,336,000	109,305,000	109,407,000	109,363,000	109,146,000	109,055,000	109,024,000	108,933,000	108,865,000	108,797,000	108,858,000
interest income		9,767,000	6,960,000	7,579,000	12,623,000	9,433,000	3,662,000	3,134,000	3,133,000
gain on sale of subsidiaries and impairment loss on assets sold and held for sale		-3,094,000	1,013,000
income from continuing operations before income taxes		53,469,000	39,946,000	39,975,000	33,539,000																																																							48,005,000
income from continuing operations		41,361,000	31,218,000	26,558,000	27,144,000																																																							30,522,000	25,760,000	32,777,000	30,984,000
income from continuing operations for common stock		39,617,000	30,747,000	26,085,000	26,671,000
income from discontinued operations
continuing operations - basic earnings per common share		230	180	150	150
discontinued operations - basic earnings per common share
continuing operations - diluted earnings per common share		230	180	150	150
discontinued operations - diluted earnings per common share
weighted-average number of common shares outstanding:
basic			172,617,000	172,496,000	172,478,000		114,358,000	110,303,000
diluted			172,916,000	172,655,000	172,812,000		114,358,000	110,303,000
loss on sale of a subsidiary and impairment loss on assets held for sale				-178,000
loss from discontinued operations
discontinued operations - basic loss per common share
discontinued operations - diluted loss per common share
bank						78,057,750	105,144,000	101,943,000	105,144,000	102,947,000	100,974,000	96,885,000	93,857,000	89,218,000	81,411,000	75,324,000	75,115,000	75,799,000	76,208,000	77,260,000	77,131,000	80,415,000	78,644,000	74,714,000	80,630,000	83,201,000	81,256,000	80,496,000	75,419,000	75,166,000	74,289,000	75,329,000	72,856,000	72,627,000	73,708,000	68,840,000	69,091,000	65,783,000	64,348,000	63,536,000	60,616,000	63,619,000	65,058,000	66,027,000	64,756,000	66,596,000	64,721,000	65,252,000	71,632,000	70,914,000	71,947,000	75,499,000	82,032,000	87,675,000	85,950,000	105,844,000	105,507,000	107,526,000	104,460,000	93,770,000	92,703,000	99,722,000	102,069,000
interest expense, net—other than on deposit liabilities and other bank borrowings						-24,019,000	-32,085,000	-32,400,000	-31,591,000	-22,814,750	-32,629,000	-29,832,000	-28,798,000	-18,985,000	-26,626,000	-24,965,000	-24,349,000	-17,632,500	-23,477,000	-23,317,000	-23,736,000	-16,618,500	-22,086,000	-22,613,000	-17,270,250	-22,425,000	-16,510,500	-22,523,000	-21,518,000	-14,808,750	-19,227,000	-20,440,000	-19,568,000	-14,198,000	-19,365,000	-20,126,000	-19,229,000	-18,906,000	-19,100,000	-19,170,000	-20,022,000	-19,456,000
income taxes									11,674,000	7,658,000	7,521,000	14,284,000	15,110,000	12,772,000	17,352,000	13,203,000	17,840,000	14,578,000	14,265,000	18,599,000	15,365,000	10,219,000	14,018,000	10,870,000	15,247,000	14,803,000	14,324,000	10,862,000	12,556,000	37,390,000	34,595,000	20,492,000	16,916,000	27,492,000	51,592,000	18,301,000	29,516,000	20,911,000	19,979,000	26,323,000	22,269,000	24,673,000	22,841,000	23,654,000	18,662,000	25,804,000	22,824,000	21,298,000	16,013,000	15,279,000	18,753,000	7,040,000	11,184,000	20,425,000	747,000	19,720,000	10,065,000	9,793,000	2,623,000	17,483,000	14,739,000	18,381,000	17,180,000
gain on sales of equity-method investment
gain on sales of investment securities, net and equity-method investment																	8,123,000
retirement defined benefits credit (expense)—other than service costs																		1,139,000	1,058,000	1,216,000	2,435,000
gain on sale of investment securities																					528,000			9,275,000
retirement defined benefits expense—other than service costs																						-240,000	-1,102,000	-934,000	-543,000	-648,000	-1,168,250	-1,276,000	-1,833,000
dividends declared per common share																													310	232.5	310	310
merger termination fee																																			90,000,000
dividends per common share																																	310	310	310	310	310	310	310	310	310	310	310	310	310	310	310	310	310	310				310	310	310	310	310	310	620	620	620	620
adjusted weighted-average shares																																		108,309,000	108,472,000	107,781,000	107,738,000	107,694,000	103,567,000	103,026,000	101,825,000	102,165,000	99,818,000	99,249,000	98,540,000	97,518,000	96,979,000	96,561,000	93,414,000	92,848,000	91,653,000	91,494,000	90,692,000	84,842,000	84,155,000	83,614,000	82,640,000	82,124,000	81,713,000	37,676,000	37,377,000	36,627,000	36,406,000
other comprehensive income, net of taxes:
net unrealized gains on available-for-sale investment securities:
net unrealized gains on available-for-sale investment securities arising during the period, net of (taxes) benefits of 1,417, (2,543), (5,413) and (2,382) for the respective periods																																		2,049,250	-2,147,000
less: reclassification adjustment for net realized gains included in net income, net of taxes of nil, nil, 238 and nil for the respective periods																																		-90,000
derivatives qualified as cash flow hedges:
effective portion of foreign currency hedge net unrealized gains, net of taxes of 205, nil, 368 and nil for the respective periods																																		144,500	321,000
less: reclassification adjustment to net income, net of (taxes) benefits of (110), 37, (75) and 112 for the respective periods																																		-29,750	-173,000
retirement benefit plans:
less: amortization of prior service credit and net incomees recognized during the period in net periodic benefit cost, net of tax benefits of 2,324, 3,583, 6,943 and 10,760 for the respective periods																																		2,719,250	3,641,000
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of taxes of 2,109, 3,243, 6,327 and 9,729 for the respective periods																																		-2,483,500	-3,311,000
other comprehensive income, net of taxes																																		2,309,750	-1,669,000		4,430,000	-3,127,000	4,058,000	-1,311,000	2,900,000		-897,000			1,586,000	1,550,000
comprehensive income attributable to hawaiian electric industries, inc.																																		53,215,250	125,473,000		55,103,000	31,891,000	35,924,000	46,504,000	44,321,000		47,339,000	32,283,000
net unrealized gains on available-for-sale investment securities arising during the period, net of (taxes) benefits of (2,543), 1,094, (2,382) and (2,249) for the respective periods																																					3,851,000
less: reclassification adjustment for net realized gains included in net income, net of taxes of nil, nil, nil and 1,132 for the respective periods
less: reclassification adjustment to net income, net of tax benefits of 37, 37, 112 and 112 for the respective periods																																					59,000			59,000
less: amortization of prior service credit and net incomees recognized during the period in net periodic benefit cost, net of tax benefits of 3,583, 1,900, 10,760, and 5,438 for the respective periods																																					5,611,000
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of taxes of 3,243, 1,619, 9,729 and 4,858 for the respective periods																																					-5,091,000
net unrealized gains on available-for-sale investment securities arising during the period, net of (taxes) benefits of 2,439, (1,679), 161 and (3,343) for the respective periods																																						-3,694,000
less: reclassification adjustment to net income, net of tax benefits of 38, 38, 75 and 75 for the respective periods																																						59,000			59,000
less: amortization of prior service credit and net incomees recognized during the period in net periodic benefit cost, net of tax benefits of 3,691, 1,836, 7,177, and 3,632 for the respective periods																																						5,780,000
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of taxes of 3,359, 1,641, 6,486 and 3,239 for the respective periods																																						-5,272,000
net unrealized gains on available-for-sale investment securities arising during the period, net of tax benefits of 2,278 and 1,664 for the respective periods																																							3,451,000
less: reclassification adjustment for net realized gains included in net income, net of taxes of nil and 1,132 for the respective periods
less: reclassification adjustment to net income, net of tax benefits of 37 for both periods																																							59,000
less: amortization of prior service credit and net incomees recognized during the period in net periodic benefit cost, net of tax benefits of 3,486 and 1,796 for the respective periods																																							5,459,000
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of taxes of 3,127 and 1,598 for the respective periods																																							-4,911,000
net unrealized gains on securities:
net unrealized gains on securities arising during the period, net of (taxes) tax benefits of 1,094, 1,049, (2,249) and 7,081 for the respective periods																																								-1,657,000
less: reclassification adjustment for net realized gains included in net income, net of taxes of nil, nil, 1,132 and 488 for the respective periods
less: amortization of transition obligation, prior service credit and net incomees recognized during the period in net periodic benefit cost, net of tax benefits of 1,900, 3,697, 5,438 and 11,173 for the respective periods																																								2,829,000
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of taxes of 1,619, 3,284, 4,858 and 9,852 for the respective periods																																								-2,542,000
net unrealized gains on securities arising during the period, net of (taxes) benefits of (1,679), 5,485, (3,343) and 6,032 for the respective periods																																									2,543,000
less: reclassification adjustment for net realized gains included in net income, net of taxes of nil, 488, 1,132 and 488 for the respective periods
less: amortization of transition obligation, prior service credit and net incomees recognized during the period in net periodic benefit cost, net of tax benefits of 1,742, 3,630, 3,632 and 7,476 for the respective periods																																									2,873,000
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of taxes of 1,641, 3,184, 3,239 and 6,568 for the respective periods																																									-2,575,000
interest expense—other than on deposit liabilities and other bank borrowings																																											-20,304,000											-19,345,000		-19,249,000	-19,589,000	-19,282,000
net unrealized gains on securities arising during the period, net of (taxes) benefits of 1,049 and (689) for the three months ended september 30, 2013 and 2012 and 7,081 and (1,261) for the nine months ended september 30, 2013 and 2012, respectively																																											-1,589,000
less: reclassification adjustment for net realized gains included in net income, net of taxes of nil for the three months ended september 30, 2013 and 2012 and 488 and 53 for the nine months ended september 30, 2013 and 2012, respectively
less: reclassification adjustment to net income, net of tax benefits of 37 for the three months ended september 30, 2013 and 2012 and 112 for the nine months ended september 30, 2013 and 2012																																											59,000
less: amortization of transition obligation, prior service credit and net incomees recognized during the period in net periodic benefit cost, net of tax benefits of 3,697 and 2,443 for the three months ended september 30, 2013 and 2012 and 11,173 and 7,321 for the nine months ended september 30, 2013 and 2012, respectively																																											5,789,000
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of taxes of 3,284 and 2,129 for the three months ended september 30, 2013 and 2012 and 9,852 and 6,386 for the nine months ended september 30, 2013 and 2012, respectively																																											-5,156,000
net unrealized gains on securities arising during the period, net of (taxes) benefits of 5,485 and (721) for the three months ended june 30, 2013 and 2012 and 6,032 and (572) for the six months ended june 30, 2013 and 2012, respectively
less: reclassification adjustment for net realized gains included in net income, net of taxes of 488 and 53 for the three months ended june 30, 2013 and 2012 and 488 and 53 for the six months ended june 30, 2013 and 2012, respectively
less: reclassification adjustment to net income, net of tax benefits of 38 for the three months ended june 30, 2013 and 2012 and 75 for the six months ended june 30, 2013 and 2012																																												59,000
less: amortization of transition obligation, prior service credit and net incomees recognized during the period in net periodic benefit cost, net of tax benefits of 3,630 and 2,405 for the three months ended june 30, 2013 and 2012 and 7,476 and 4,878 for the six months ended june 30, 2013 and 2012, respectively																																												5,680,000
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of taxes of 3,184 and 2,095 for the three months ended june 30, 2013 and 2012 and 6,568 and 4,257 for the six months ended june 30, 2013 and 2012, respectively
interest expense–other than on deposit liabilities and other bank borrowings																																																			-19,678,000	-17,910,000	-17,833,000						-20,511,000
dilutive effect of share-based compensation																																														361,000	286,000	394,000	255,000	276,000
net unrealized gains on securities arising during the period, net of taxes of 689 and 1,917 for the three months ended september 30, 2012 and 2011 and 1,261 and 4,258 for the nine months ended september 30, 2012 and 2011, respectively																																														1,043,000
less: reclassification adjustment for net realized gains included in net income, net of taxes of nil and 146 for the three months ended september 30, 2012 and 2011 and 53 and 148 for the nine months ended september 30, 2012 and 2011, respectively
net unrealized holding losses arising during the period, net of taxes (benefits) of 5 and for the three and nine months ended september 30, 2011, respectively
less: reclassification adjustment to net income, net of tax benefits of 37 and 37 for the three months ended september 30, 2012 and 2011 and 112 and 78 for the nine months ended september 30, 2012 and 2011, respectively																																														59,000
less: amortization of net income, prior service gain and transition obligation included in net periodic benefit cost, net of tax benefits of 2,443 and 1,405 for the three months ended september 30, 2012 and 2011 and 7,321 and 3,513 for the nine months ended september 30, 2012 and 2011, respectively																																														3,826,000
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of taxes of 2,129 and 1,074 for the three months ended september 30, 2012 and 2011 and 6,386 and 3,875 for the nine months ended september 30, 2012 and 2011, respectively
comprehensive income attributable to common shareholders																																														49,292,000	40,350,000
net unrealized gains on securities arising during the period, net of taxes of 721 and 2,755 for the three months ended june 30, 2012 and 2011 and 572 and 2,341 for the six months ended june 30, 2012 and 2011, respectively																																															1,093,000
less: reclassification adjustment for net realized gains included in net income, net of taxes of 53 and 2 for the three months ended june 30, 2012 and 2011 and 53 and 2 for the six months ended june 30, 2012 and 2011, respectively
net unrealized holding gains arising during the period, net of taxes of 3 and 9 for the three and six months ended june 30, 2011, respectively
less: reclassification adjustment to net income, net of tax benefits of 38 and 38 for the three months ended june 30, 2012 and 2011 and 75 and 41 for the six months ended june 30, 2012 and 2011, respectively																																															59,000
less: amortization of net income, prior service gain and transition obligation included in net periodic benefit cost, net of tax benefits of 2,405 and 1,477 for the three months ended june 30, 2012 and 2011 and 4,878 and 2,108 for the six months ended june 30, 2012 and 2011, respectively																																															3,768,000
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of taxes of 2,095 and 1,370 for the three months ended june 30, 2012 and 2011 and 4,257 and 2,801 for the six months ended june 30, 2012 and 2011, respectively
three months ended march 31
net unrealized losses on securities:
net unrealized losses on securities arising during the period, net of tax benefits, of 149 and 414 for the three months ended march 31, 2012 and 2011, respectively
net unrealized holding losses arising during the period, net of tax benefits of 6 for the three months ended march 31, 2011
less: reclassification adjustment to net income, net of tax benefits of 37 and 3 for the three months ended march 31, 2012 and 2011, respectively																																																59,000
less: amortization of net income, prior service gain and transition obligation included in net periodic benefit cost, net of tax benefits of 2,473 and 631 for the three months ended march 31, 2012 and 2011, respectively																																																3,873,000
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of taxes of 2,162 and 1,431 for the three months ended march 31, 2012 and 2011, respectively																																																-3,395,000
expenses - sum																																																	592,033,000	558,333,000	551,674,000	490,846,000	499,139,000	841,302,000	752,453,000	658,871,000	625,444,000	555,454,000	525,482,000	385,468,000	387,303,000	359,853,000	339,517,000
assets
cash and cash equivalents																																																	278,324,000
accounts receivable and unbilled revenues																																																	266,701,000	233,885,000				370,481,000	323,011,000	298,304,000	276,786,000	250,990,000	220,894,000
available-for-sale investment and mortgage-related securities																																																	623,965,000	584,485,000				766,045,000	887,162,000	2,086,037,000	2,160,841,000	2,301,360,000	2,405,250,000
investment in stock of federal home loan bank of seattle																																																	97,764,000	97,764,000				97,764,000	97,764,000	97,764,000
loans receivable																																																	3,573,131,000	3,623,127,000				4,159,007,000	4,121,379,000	4,153,950,000	4,020,112,000	3,887,739,000	3,816,387,000
property, plant and equipment, net of accumulated depreciation of 1,996,286 and 1,945,482																																																	3,106,812,000
regulatory assets																																																	424,614,000	426,146,000				273,640,000	278,645,000	283,498,000	142,675,000	132,605,000	117,078,000
goodwill																																																	82,190,000	82,190,000				83,080,000	83,080,000	83,080,000
assets - sum																																																	8,880,361,000	8,892,940,000				9,240,927,000	9,182,196,000	10,322,580,000	10,030,599,000	9,957,556,000	9,922,576,000
liabilities and stockholders’ equity
liabilities
accounts payable																																																	164,538,000	189,149,000				256,759,000	248,173,000	213,966,000	219,737,000	171,941,000	172,554,000
interest and dividends payable																																																	30,829,000
deposit liabilities																																																	4,001,534,000	4,008,391,000				4,182,648,000	4,270,470,000	4,330,356,000	4,387,206,000	4,432,341,000	4,577,073,000
short-term borrowings—other than bank																																																	55,012,000	60,238,000				230,566,000		199,281,000	101,097,000	125,465,000	123,414,000
other bank borrowings																																																	256,515,000	294,154,000				683,452,000	634,148,000	1,789,157,000	1,731,799,000	1,718,027,000	1,590,563,000
long-term debt, net—other than bank																																																	1,364,879,000	1,364,847,000				1,210,901,000		1,202,028,000	1,229,949,000	1,230,824,000	1,225,144,000
deferred income taxes																																																	187,809,000	189,512,000				176,255,000	162,892,000	154,988,000	95,462,000	83,430,000	96,374,000
regulatory liabilities																																																	293,299,000	297,332,000				282,308,000	275,835,000	268,890,000	257,817,000	251,198,000	245,440,000
contributions in aid of construction																																																	326,050,000	323,090,000				304,977,000	302,925,000	300,847,000	286,403,000	281,944,000	277,499,000
liabilities - sum																																																	7,379,435,000	7,405,204,000				7,886,034,000	7,851,063,000	8,984,277,000	8,865,882,000	8,814,865,000	8,791,715,000
preferred stock of subsidiaries - not subject to mandatory redemption																																																	34,293,000	34,293,000				34,293,000	34,293,000			34,293,000	34,293,000
stockholders’ equity
preferred stock, no par value, authorized 10,000,000 shares; issued: none
common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 93,619,909 shares and 92,520,638 shares																																																	1,289,471,000
retained earnings																																																	183,015,000	182,646,000				223,294,000	212,275,000	233,213,000	210,344,000	216,063,000	223,946,000
accumulated other comprehensive loss, net of tax benefits																																																						-13,728,000	-15,383,000	-13,470,000	-141,111,000	-156,227,000	-163,627,000
balance, december 31, 2009																																																	92,521,000	92,521,000
comprehensive income:
net unrealized gains on securities arising during the period, net of taxes of 1,747
unrealized losses on derivatives qualified as cash flow hedges:
unrealized holding loss arising during the period, net of tax benefits of 662
amortization of net loss, prior service gain and transition obligation included in net periodic benefit cost, net of taxes of 1,248
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of tax benefits of 1,080
comprehensive income
issuance of common stock																																																	1,099,000	575,000
common stock dividends
balance, june 30, 2010																																																	93,620,000
balance, december 31, 2008																																																	90,516,000	90,516,000
cumulative effect of adoption of a standard on other-than- temporary impairment recognition, net of taxes of 2,497
net unrealized gains on securities arising during the period, net of taxes of 14,237
net unrealized losses related to factors other than credit during the period, net of tax benefits of 5,147
less: reclassification adjustment for net realized losses included in net income, net of tax benefits of 2,202
amortization of net loss, prior service gain and transition obligation included in net periodic benefit cost, net of taxes of 3,718
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of tax benefits of 3,333
balance, june 30, 2009																																																	91,562,000
revenues - sum																																																		619,040,000	620,313,000	525,901,000	543,797,000	915,431,000	774,055,000	729,617,000	673,461,000	600,763,000	554,023,000	453,703,000	448,756,000	431,560,000	409,002,000
cash and equivalents																																																		341,330,000				166,709,000	147,774,000	189,959,000	167,020,000	152,163,000	156,093,000
federal funds sold																																																		702,000				35,039,000	10,433,000	17,184,000	59,009,000	75,144,000	84,804,000
property, plant and equipment, net of accumulated depreciation of 1,970,087 and 1,945,482																																																		3,091,190,000
common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 93,095,818 shares and 92,520,638 shares																																																		1,277,333,000
net unrealized gains on securities arising during the period, net of taxes of 696
amortization of net loss, prior service gain and transition obligation included in net periodic benefit cost, net of taxes of 609
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of tax benefits of 526
balance, march 31, 2010																																																		93,096,000
net unrealized gains on securities arising during the period, net of taxes of 5,711
amortization of net loss, prior service gain and transition obligation included in net periodic benefit cost, net of taxes of 1,862
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of tax benefits of 1,668
balance, march 31, 2009																																																		91,440,000
operating income - sum																																																			68,639,000	35,055,000	44,658,000	74,129,000	21,602,000	70,746,000	48,017,000	45,309,000	28,541,000	68,235,000	61,453,000	71,707,000	69,485,000
less net income attributable to noncontrolling interest - preferred stock of subsidiaries																																																			471,000	473,000	473,000
dividend per common share																																																			310	310	310
dilutive effect of stock-based compensation																																																			131,000	110,000	88,000	217,000	103,000	142,000			265,000
ratio of earnings to fixed charges
excluding interest on asb deposits																																																					2,310			2,310			1,220
including interest on asb deposits																																																					1,870			1,900			1,140
income from before income taxes																																																						57,706,000	5,883,000		29,946,000	27,342,000
property, plant and equipment, net of accumulated depreciation of 1,824,210 and 1,749,386																																																						2,823,342,000
minority interests
common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 85,080,748 shares and 83,431,513 shares																																																						1,111,034,000
stockholders’ equity - sum																																																						1,320,600,000	1,296,840,000	1,304,010,000	1,130,424,000	1,108,398,000	1,096,568,000
interest expense - other than on deposit liabilities and other bank borrowings																																																							-18,186,000
property, plant and equipment, net of accumulated depreciation of 1,800,911, and 1,749,386																																																							2,782,950,000
short-term borrowings - other than bank																																																							221,952,000
long-term debt, net - other than bank																																																							1,206,965,000
common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 84,646,451 shares and 83,431,513 shares																																																							1,099,948,000
property, plant and equipment, net of accumulated depreciation of 1,775,790 and 1,749,386																																																								2,761,396,000
preferred stock of subsidiaries—not subject to mandatory redemption																																																								34,293,000	34,293,000
common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 83,956,023 shares and 83,431,513 shares																																																								1,084,267,000
dilutive effect of stock options and dividend equivalents																																																									159,000	217,000		160,000	182,000	192,000	217,000
investment in stock of federal home loan bank of seattle, at cost																																																									97,764,000	97,764,000	97,764,000
property, plant and equipment, net of accumulated depreciation of 1,735,790 and 1,651,088																																																									2,686,584,000
goodwill and other intangibles																																																									85,622,000	87,130,000	86,645,000
common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 82,957,753 shares and 81,461,409 shares																																																									1,061,191,000
property, plant and equipment, net of accumulated depreciation of 1,705,833 and 1,651,088																																																										2,656,139,000
common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 82,391,429 shares and 81,461,409 shares																																																										1,048,562,000
property, plant and equipment, net of accumulated depreciation of 1,675,912 and 1,651,088																																																											2,641,227,000
common stock, no par value, authorized 200,000,000 shares; issued and outstanding: 81,823,550 shares and 81,461,409 shares																																																											1,036,249,000
interest expense–other than bank																																																												-17,315,000
preferred securities distributions of trust subsidiaries																																																												-4,008,000	-4,009,000	-4,008,000	-4,009,000
discontinued operations-loss from operations net of income tax benefits
continuing operations																																																												810	690	900	860
discontinued operations																																																													-100
interest expense—other than bank																																																													-17,879,000	-17,751,000	-18,340,000
discontinued operations-loss from operations, net of income taxes																																																													-3,870,000
discontinued operations, net of income taxes
income from operations
net loss on disposals
discontinued operations—loss from operations, net of income taxes

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2019-12-31	2019-09-30	2018-12-31	2018-09-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31	2006-09-30	2006-06-30	2006-03-31	2005-09-30	2005-06-30	2005-03-31	2004-09-30	2004-06-30	2004-03-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30

assets
current assets:
cash and cash equivalents	452,840,000	501,778,000	548,242,000	154,285,000	629,338,000	435,455,000	1,159,635,000	550,408,000	485,192,000	679,546,000	667,129,000	314,284,000	315,334,000	199,877,000	175,280,000	159,672,000	301,704,000	305,551,000	227,923,000	247,443,000	277,579,000	341,421,000	193,126,000	574,482,000	196,813,000	176,988,000	169,208,000	172,054,000	244,785,000	261,881,000	202,173,000	210,381,000	234,230,000	278,452,000	334,743,000	228,417,000	300,687,000	292,168,000	192,555,000	188,377,000	269,120,000	215,042,000	153,712,000	262,708,000	168,512,000	207,549,000	236,346,000		283,483,000	266,746,000	316,254,000	330,651,000	387,488,000
restricted cash	478,968,000	478,968,000	478,968,000	482,603,000	482,480,000		13,645,000	16,422,000	17,531,000	15,028,000	15,164,000	5,104,000	4,216,000	5,050,000	3,898,000	5,386,000	5,912,000	5,911,000	9,412,000	10,618,000	14,067,000	17,558,000	21,881,000	29,376,000	30,872,000
accounts receivable and unbilled revenues	452,184,000	491,526,000	498,229,000	435,844,000	444,015,000		526,717,000	476,148,000	469,298,000	575,176,000	540,082,000	409,314,000	435,158,000	511,903,000	519,774,000	457,470,000	359,807,000	344,213,000	331,752,000	312,727,000	273,197,000	281,216,000	276,299,000	271,314,000	300,794,000	311,235,000	325,672,000	336,309,000	266,336,000	263,209,000	264,426,000	249,539,000	252,416,000	237,950,000	210,280,000	305,448,000	269,207,000	255,365,000	365,728,000	349,771,000	324,433,000	350,083,000	359,259,000	348,487,000	374,932,000	386,750,000	306,760,000		342,901,000	319,533,000	286,876,000	266,996,000	259,132,000		233,885,000					323,011,000	298,304,000	276,786,000	250,990,000	220,894,000	271,203,000	247,817,000	228,771,000	239,133,000	212,428,000	181,945,000	203,516,000	184,300,000	221,681,000	174,608,000	178,542,000	171,747,000		170,264,000
regulatory assets	48,353,000	50,039,000	36,032,000	44,022,000	42,751,000		314,247,000	322,409,000	315,067,000	294,804,000	231,197,000	252,787,000	247,902,000	242,513,000	497,188,000	530,900,000	559,161,000	565,543,000	757,204,000	767,856,000	773,426,000	766,708,000	677,683,000	682,570,000	715,080,000	749,174,000	833,426,000	830,924,000	872,499,000	869,297,000	936,964,000	938,277,000	945,409,000	957,451,000	888,408,000	897,948,000	904,559,000	905,589,000	575,712,000	582,645,000	579,963,000	890,419,000	885,025,000	874,151,000	715,994,000	698,448,000	677,674,000		494,487,000	478,766,000	481,812,000	478,330,000	422,177,000		426,146,000	535,287,000	531,708,000	531,078,000		278,645,000	283,498,000	142,675,000	132,605,000	117,078,000	110,335,000	110,611,000	111,438,000	109,518,000	109,063,000	109,423,000				105,565,000	105,652,000	104,558,000		107,093,000
other	341,975,000	305,999,000	296,351,000	305,098,000	347,790,000	681,460,000	1,088,417,000	1,057,165,000	915,205,000	877,959,000	826,020,000	795,214,000	812,836,000	824,536,000	886,999,000	883,594,000	777,694,000	747,469,000	691,857,000	668,368,000	639,505,000	629,149,000	591,258,000	556,793,000	649,885,000	576,263,000	530,364,000	596,481,000	526,744,000	513,535,000	474,444,000	478,763,000	467,160,000	447,621,000	415,955,000	453,099,000	493,151,000	481,531,000	505,226,000	557,684,000	537,841,000	475,335,000	454,898,000	527,820,000	573,523,000	566,734,000	538,443,000	95,363,000	496,638,000	494,527,000	462,258,000	487,614,000	478,406,000	96,523,000	412,121,000	69,400,000	59,413,000	54,713,000	103,235,000	449,998,000	351,408,000	334,186,000	316,522,000	296,434,000	424,712,000	443,294,000	425,892,000	474,220,000	455,981,000	433,428,000	405,954,000	376,486,000	417,918,000	360,689,000	367,017,000	345,858,000	3,454,000	336,395,000
assets held for sale	55,596,000	56,266,000	55,878,000	118,399,000
total current assets	1,829,916,000	1,884,576,000	1,913,700,000	1,540,251,000	1,946,374,000																																																			358,889,000	303,200,000	293,898,000
noncurrent assets:
property, plant and equipment, net of accumulated depreciation	6,237,196,000		6,155,343,000	6,060,000,000	6,138,288,000		6,296,088,000	6,298,721,000	6,183,503,000		5,917,342,000	5,868,408,000	5,778,571,000		5,599,937,000	5,429,420,000	5,411,746,000		5,335,130,000	5,310,162,000	5,283,768,000		5,232,177,000	5,181,427,000		5,006,394,000		4,694,101,000	4,542,558,000		4,813,875,000	4,726,524,000	4,641,514,000		4,423,567,000	4,317,121,000	4,269,241,000	4,190,835,000	4,048,106,000	3,980,096,000	3,908,392,000	3,776,305,000	3,701,905,000	3,640,308,000	3,506,489,000	3,436,021,000	3,375,654,000		3,248,658,000	3,204,996,000	3,175,375,000		3,131,198,000		3,091,190,000					2,782,950,000	2,761,396,000	2,686,584,000	2,656,139,000	2,641,227,000	2,605,392,000	2,582,633,000	2,558,800,000	2,488,603,000	2,452,775,000	2,433,453,000	2,372,884,000	2,344,396,000	2,324,270,000	2,083,812,000	2,079,267,000	2,075,007,000		2,059,411,000
operating lease right-of-use assets	52,416,000	56,604,000	58,197,000	62,065,000	65,657,000		84,645,000	86,819,000	91,182,000	94,905,000	99,466,000	105,030,000	110,920,000	115,684,000	121,302,000	120,600,000	136,207,000	122,416,000	141,816,000	154,720,000	162,713,000	153,069,000	169,062,000	184,759,000	199,171,000	213,910,000
defined benefit pension and other postretirement benefit plans asset	219,730,000	219,211,000
total noncurrent assets	7,084,287,000	7,038,303,000	6,899,936,000	6,784,610,000	6,819,807,000
total assets	8,914,203,000	8,922,879,000	8,813,636,000	8,324,861,000	8,766,181,000		17,731,228,000	17,055,414,000	16,923,208,000	17,243,821,000	16,991,818,000	16,519,309,000	16,443,785,000	16,284,244,000	16,264,868,000	16,001,743,000	15,908,429,000	15,822,637,000	15,760,163,000	15,606,729,000	15,358,673,000	15,004,007,000	14,542,361,000	14,480,700,000	13,745,251,000	13,517,970,000	13,104,051,000	12,911,554,000	12,702,718,000	13,099,828,000	12,742,850,000	12,693,805,000	12,543,275,000	12,425,506,000	11,870,506,000	11,573,466,000	11,439,631,000	11,273,447,000	10,670,471,000	10,617,143,000	10,458,070,000	10,429,012,000	10,238,145,000	10,298,569,000	9,904,827,000	9,821,957,000	9,632,952,000	4,873,479,000	9,264,363,000	9,241,071,000	9,127,536,000	9,085,344,000	8,895,167,000	4,896,145,000					5,526,727,000
liabilities and shareholders’ equity
current liabilities:
accounts payable	220,103,000	219,062,000	217,329,000	232,944,000	207,115,000		255,634,000	248,668,000	248,806,000	247,462,000	256,323,000	253,954,000	237,822,000	251,460,000	213,587,000	244,239,000	240,296,000	205,544,000	195,223,000	175,060,000	164,936,000	182,347,000	158,292,000	142,113,000	220,633,000	189,244,000	214,773,000	167,192,000	190,221,000	193,714,000	160,897,000	194,755,000	160,819,000	143,279,000	119,288,000	152,896,000	183,094,000	167,784,000	177,495,000	176,379,000	210,511,000	206,803,000	175,038,000	253,096,000	234,304,000	231,871,000	183,733,000		165,909,000	168,187,000	162,748,000	202,446,000	142,971,000		189,149,000	118,042,000	110,113,000	107,146,000		248,173,000	213,966,000	219,737,000	171,941,000	172,554,000	178,132,000	188,241,000	183,852,000	182,470,000	146,022,000	168,087,000	173,573,000	153,071,000	143,583,000	157,420,000	173,763,000	142,565,000	8,108,000	151,543,000
interest and dividends payable	49,142,000	31,458,000	34,691,000	23,921,000	39,317,000		50,076,000	34,528,000	61,452,000	51,206,000	57,901,000	33,294,000	41,382,000	21,333,000	36,158,000	20,661,000	33,519,000	19,889,000	33,307,000	20,284,000	32,405,000	23,547,000	34,271,000	24,396,000	24,941,000	32,338,000	28,254,000	30,280,000	29,786,000	25,837,000	26,484,000	22,124,000	27,407,000	25,225,000	27,890,000	25,914,000	25,360,000	25,225,000	26,051,000	25,315,000	28,520,000	27,232,000	25,503,000	26,358,000	27,907,000	24,897,000	23,778,000		28,010,000	29,593,000	27,496,000	27,814,000	31,318,000
current portion of long-term debt	124,990,000	124,959,000	143,472,000	143,438,000	414,897,000
regulatory liabilities	35,562,000	51,997,000	37,642,000	27,396,000	28,071,000		1,191,099,000	1,175,609,000	1,159,811,000	1,150,690,000	1,101,773,000	1,087,356,000	1,069,551,000	1,055,650,000	1,030,376,000	1,008,075,000	1,003,444,000	996,768,000	975,512,000	966,477,000	956,139,000	959,786,000	967,846,000	977,780,000	972,310,000	963,740,000	950,236,000	932,352,000	895,093,000	880,770,000	466,216,000	431,630,000	419,940,000	410,693,000	383,793,000	362,251,000	357,089,000	351,712,000	357,090,000	354,980,000	350,916,000	337,720,000	336,065,000	325,527,000	319,330,000	317,958,000	316,560,000		313,299,000	309,809,000	304,375,000	296,797,000	289,568,000		297,332,000	282,239,000	300,450,000	294,814,000		275,835,000	268,890,000	257,817,000	251,198,000	245,440,000	235,480,000	229,928,000	224,598,000	213,230,000	208,172,000	202,568,000	82,595,000	77,191,000	76,090,000
wildfire related claims	526,500,000	530,000,000	526,500,000
liabilities held for sale	60,607,000	59,803,000	59,075,000	114,399,000
total current liabilities	1,367,891,000	1,427,737,000	1,420,743,000	1,439,090,000	1,559,019,000																																																			353,438,000	441,490,000	378,118,000
noncurrent liabilities:
long-term debt	2,280,388,000	2,285,016,000	2,295,219,000	1,863,936,000	2,203,066,000																																																			1,057,784,000	907,733,000	907,681,000								1,033,089,000	1,133,041,000	1,173,009,000	1,168,079,000	1,168,873,000	1,167,108,000	1,166,602,000	1,389,510,000	1,063,790,000	1,063,464,000	1,189,265,000	401,000,000	1,083,517,000
operating lease liabilities	38,619,000	43,278,000	45,610,000	49,768,000	54,469,000		91,781,000	94,565,000	99,611,000	103,900,000	108,681,000	114,827,000	121,323,000	126,604,000	130,914,000	136,445,000	151,832,000	136,760,000	155,608,000	167,997,000	175,334,000	160,432,000	176,258,000	191,058,000	199,571,000	213,166,000
finance lease liabilities	502,526,000	505,590,000	509,776,000	462,439,000	465,881,000		441,089,000	443,366,000	350,290,000	339,040,000	122,320,000	123,240,000	88,024,000	48,709,000	49,202,000
defined benefit pension liability	23,612,000
wildfire tort-related claims	1,436,250,000	1,436,250,000	1,436,250,000	478,750,000	478,750,000		1,915,000,000	1,712,000,000
total noncurrent liabilities	5,908,943,000	5,889,223,000	5,794,764,000	5,317,046,000	5,666,993,000
total liabilities	7,276,834,000	7,316,960,000	7,215,507,000	6,756,136,000	7,226,012,000		16,119,894,000	15,935,848,000	14,511,535,000	14,864,687,000	14,733,171,000	14,235,639,000	14,171,537,000	14,047,452,000	14,067,653,000	13,733,946,000	13,570,494,000	13,397,460,000	13,342,327,000	13,205,107,000	13,003,087,000	12,632,212,000	12,184,837,000	12,155,009,000	11,430,698,000	11,240,988,000	10,907,478,000	10,745,216,000	10,576,648,000	10,968,149,000	10,605,535,000	10,584,483,000	10,443,394,000	10,324,460,000	9,894,034,000	9,618,172,000	9,506,818,000	9,341,245,000	8,834,770,000	8,821,971,000	8,677,849,000	8,739,254,000	8,579,203,000	8,657,011,000	8,263,399,000	8,211,888,000	8,044,561,000		7,692,312,000	7,694,571,000	7,596,692,000	7,567,414,000	7,381,221,000
commitments and contingencies
shareholders’ equity
preferred stock, no par value, authorized 10,000,000 shares; issued: none
common stock	2,269,261,000	2,268,187,000	2,267,288,000	2,267,897,000	2,265,120,000		2,266,282,000	1,709,472,000	1,707,689,000	1,707,471,000	1,704,447,000	1,696,258,000	1,692,390,000	1,692,697,000	1,689,672,000	1,688,009,000	1,684,547,000	1,685,496,000	1,683,090,000	1,681,820,000	1,678,973,000	1,678,368,000	1,678,007,000	1,676,616,000	1,678,257,000	1,676,411,000	1,669,267,000	1,667,371,000	1,663,149,000	1,662,491,000	1,661,492,000	1,660,403,000	1,658,280,000	1,660,910,000	1,635,890,000	1,627,259,000	1,626,569,000	1,624,549,000	1,519,256,000	1,493,436,000	1,491,338,000	1,443,583,000	1,429,371,000	1,413,700,000	1,389,607,000	1,377,426,000	1,362,880,000		1,347,255,000	1,343,537,000	1,329,901,000	1,314,199,000	1,301,710,000		1,277,333,000	85,387,000	85,387,000	85,387,000		1,099,948,000	1,084,267,000	1,061,191,000	1,048,562,000	1,036,249,000	1,025,312,000	1,023,564,000	1,020,161,000	1,018,170,000	1,017,272,000	1,012,004,000	1,007,754,000	1,004,329,000	1,002,455,000	876,804,000	864,038,000	849,222,000	839,503,000	831,591,000
retained earnings	-635,156,000	-665,606,000	-705,413,000	-736,160,000	-762,245,000		-431,044,000	-326,642,000	968,842,000	926,720,000	877,931,000	876,268,000	861,105,000	845,830,000	826,794,000	803,027,000	788,787,000	757,921,000	740,566,000	714,317,000	687,600,000	660,398,000	645,943,000	616,941,000	622,042,000	590,651,000	543,623,000	527,802,000	483,342,000	476,836,000	470,750,000	444,400,000	439,452,000	438,972,000	323,751,000	315,759,000	298,398,000	296,680,000	296,146,000	280,126,000	270,173,000	247,568,000	230,067,000	220,049,000	233,218,000	215,626,000	210,044,000		197,165,000	178,513,000	180,960,000	181,910,000	186,425,000		182,646,000	825,975,000	811,082,000	806,186,000		212,275,000	233,213,000	210,344,000	216,063,000	223,946,000	251,768,000	244,645,000	242,605,000	222,969,000	210,573,000	208,073,000	209,170,000	191,464,000	205,142,000	183,735,000	176,451,000	177,590,000	176,118,000	171,299,000
accumulated other comprehensive income, net of taxes	3,264,000		1,961,000	2,695,000	3,001,000
total shareholders’ equity	1,637,369,000	1,605,919,000	1,563,836,000	1,534,432,000	1,505,876,000		1,577,041,000	1,085,273,000	2,377,380,000	2,344,841,000	2,224,354,000	2,249,377,000	2,237,955,000	2,202,499,000	2,162,922,000	2,233,504,000	2,303,642,000	2,390,884,000	2,383,543,000	2,367,329,000	2,321,293,000	2,337,502,000	2,323,231,000	2,291,398,000	2,280,260,000	2,242,689,000	2,162,280,000	2,132,045,000	2,091,777,000	2,097,386,000	2,103,022,000	2,075,029,000	2,065,588,000	2,066,753,000	1,942,179,000	1,921,001,000	1,898,520,000	1,897,909,000	1,801,408,000	1,760,879,000	1,745,928,000	1,655,465,000	1,624,649,000	1,607,265,000	1,607,135,000	1,575,776,000	1,554,098,000		1,537,758,000	1,512,207,000	1,496,551,000	1,483,637,000
total liabilities and shareholders’ equity	8,914,203,000	8,922,879,000	8,813,636,000	8,324,861,000	8,766,181,000		17,731,228,000	17,055,414,000	16,923,208,000	17,243,821,000	16,991,818,000	16,519,309,000	16,443,785,000	16,284,244,000	16,264,868,000	16,001,743,000	15,908,429,000	15,822,637,000	15,760,163,000	15,606,729,000	15,358,673,000	15,004,007,000	14,542,361,000	14,480,700,000	13,745,251,000	13,517,970,000	13,104,051,000	12,911,554,000	12,702,718,000	13,099,828,000	12,742,850,000	12,693,805,000	12,543,275,000	12,425,506,000	11,870,506,000	11,573,466,000	11,439,631,000	11,273,447,000	10,670,471,000	10,617,143,000	10,458,070,000	10,429,012,000	10,238,145,000	10,298,569,000	9,904,827,000	9,821,957,000	9,632,952,000		9,264,363,000	9,241,071,000	9,127,536,000	9,085,344,000
property, plant and equipment																																																																													2,089,000
land																																																								51,401,000	51,408,000	42,541,000
plant and equipment																																																								4,612,113,000	4,419,824,000	4,305,782,000
right-of-use assets - finance lease
construction in progress																																																								155,465,000	293,812,000	319,362,000
less – accumulated depreciation		6,188,372,000								6,150,126,000				5,687,003,000				5,392,068,000				5,265,735,000			5,109,628,000		4,830,118,000			5,025,916,000				4,603,465,000
december 31		2,025,000
short-term borrowings				49,312,000	48,738,000																																																													296,493,000	182,584,000	120,642,000	126,888,000	100,107,000	8,392,000	14,197,000	22,992,000					29,829,000
defined benefit plans liability		23,656,000	23,080,000	23,081,000	23,095,000
preferred stock of subsidiaries - not subject to mandatory redemption			34,293,000	34,293,000	34,293,000		34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000	34,293,000		34,293,000	34,293,000	34,293,000	34,293,000	34,293,000		34,293,000					34,293,000			34,293,000	34,293,000	34,293,000	34,293,000		34,293,000	34,293,000	34,405,000			34,406,000		34,406,000	34,406,000		34,406,000
unrealized gains on derivatives
retirement benefit plans		3,338,000								-289,350,000				-336,028,000				-52,533,000				-1,264,000																			-12,259,000	-34,402,000
cash and due from banks						184,383,000
interest-bearing deposits						251,072,000
investment securities
available-for-sale, at fair value						1,136,439,000
held-to-maturity, at amortized cost						1,201,314,000
stock in federal home loan bank, at cost						14,728,000	29,204,000	29,204,000	32,489,000	14,728,000	18,000,000	18,000,000	10,000,000	26,560,000	15,000,000	13,200,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	8,680,000	10,920,000	9,880,000	8,434,000	9,953,000	9,958,000	8,158,000	10,158,000	9,706,000	9,706,000	11,706,000	11,706,000	11,218,000	11,218,000	10,678,000	10,678,000
loans held for investment						6,180,810,000	5,972,614,000	5,963,345,000	6,045,665,000	6,106,438,000	6,114,640,000	6,069,114,000	5,988,058,000	5,906,690,000	5,616,984,000	5,357,539,000	5,117,522,000	5,139,984,000	5,046,180,000	5,106,207,000	5,218,288,000	5,232,642,000	5,389,443,000	5,356,510,000	5,067,821,000	5,031,296,000	4,790,902,000	4,700,232,000	4,688,129,000
allowance for credit losses						-74,372,000
net loans						6,106,438,000
loans held for sale, at lower of cost or fair value						15,168,000	2,704,000	13,904,000	2,923,000	15,168,000	2,171,000	6,910,000	660,000	824,000	3,101,000	3,738,000	7,961,000	10,404,000	53,998,000	50,877,000	23,637,000	28,275,000	16,806,000	37,143,000	12,286,000	17,115,000	1,805,000	1,036,000	7,379,000	11,250,000	15,728,000	5,261,000	10,454,000	18,817,000	7,900,000	5,598,000	5,581,000	9,906,000	2,328,000	956,000	4,363,000	5,829,000	34,073,000	5,351,000	16,495,000	11,915,000	14,657,000		25,016,000	4,784,000	4,308,000	7,849,000
goodwill						82,190,000			82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000	82,190,000		82,190,000	82,190,000	82,190,000	82,190,000	82,190,000		82,190,000					83,080,000	83,080,000
total assets of discontinued operations1						9,673,192,000
liabilities and shareholder’s equity
deposit liabilities–noninterest-bearing						2,599,762,000
deposit liabilities–interest-bearing						5,546,016,000
other borrowings						750,000,000																																										247,121,000						273,526,000					647,718,000							1,671,655,000	1,623,287,000
total liabilities of discontinued operations1						9,143,341,000
available-for-sale investment securities, at fair value							1,084,083,000	1,061,687,000	1,091,889,000	1,136,439,000	1,266,412,000	1,368,037,000	1,419,755,000	1,429,667,000	2,232,336,000	2,444,267,000	2,621,375,000	2,574,618,000	2,580,830,000	2,509,906,000	2,305,257,000	1,970,417,000	1,747,658,000	1,389,633,000	1,232,826,000	1,210,748,000	1,388,533,000	1,387,571,000	1,418,490,000	1,401,198,000	1,320,110,000	1,302,886,000	1,228,922,000	1,105,182,000	906,295,000	785,837,000	693,520,000	590,648,000
held-to-maturity investment securities, at amortized cost							1,159,229,000	1,179,182,000	1,191,074,000	1,201,314,000	1,212,005,000	1,224,917,000	1,238,185,000	1,251,747,000	510,879,000	513,767,000	517,150,000	522,270,000	491,871,000	375,655,000	295,046,000	226,947,000	133,858,000	124,623,000	139,451,000	132,704,000	141,875,000	102,498,000	43,450,000	44,515,000
liabilities
deposit liabilities							7,999,210,000	8,036,473,000	8,005,064,000	8,145,778,000	8,224,351,000	8,163,235,000	8,230,601,000	8,169,696,000	8,258,885,000	8,253,536,000	8,289,272,000	8,172,212,000	7,976,538,000	7,873,430,000	7,745,294,000	7,386,957,000	7,038,137,000	7,029,952,000	6,271,902,000	6,196,223,000	6,158,852,000	6,130,415,000	6,079,067,000	5,890,597,000	5,752,326,000	5,724,386,000	5,675,090,000	5,548,929,000	5,139,932,000	4,825,954,000	4,803,271,000	4,751,328,000	4,533,797,000	4,524,860,000	4,477,987,000	4,310,842,000	4,276,243,000	4,312,620,000	4,126,788,000	4,136,741,000	4,125,204,000		4,062,801,000	4,054,949,000	4,035,255,000	3,975,372,000	3,958,636,000		4,008,391,000					4,270,470,000	4,330,356,000	4,387,206,000	4,432,341,000	4,577,073,000	4,540,124,000	4,546,855,000	4,610,399,000	4,551,837,000	4,453,322,000	4,366,878,000	4,182,409,000	4,078,228,000	4,022,367,000	3,952,662,000	3,886,842,000	3,815,201,000		3,749,455,000
other bank borrowings							520,000,000	520,000,000	593,000,000	750,000,000	750,000,000	750,000,000	680,690,000	695,120,000	409,040,000	241,610,000	137,385,000	88,305,000	129,305,000	129,665,000	102,685,000	89,670,000	151,875,000	124,975,000	115,110,000	129,190,000	110,040,000	71,110,000	100,430,000	190,859,000	153,552,000	188,130,000	200,154,000	192,618,000	329,081,000	368,593,000	314,157,000	312,094,000	263,204,000	242,455,000	244,642,000	239,612,000	187,884,000	193,233,000	211,219,000	218,673,000	232,843,000		237,934,000	239,122,000	244,674,000	237,319,000	246,571,000		294,154,000					634,148,000	1,789,157,000	1,731,799,000	1,718,027,000	1,590,563,000	1,511,956,000
long-term debt, net—other than bank							2,836,539,000	2,838,224,000	2,837,875,000	2,842,429,000	2,944,589,000	2,572,375,000	2,480,948,000	2,384,980,000	2,430,326,000	2,374,500,000	2,316,046,000	2,321,937,000	2,244,795,000	2,258,043,000	2,229,738,000	2,119,129,000	2,068,852,000	2,070,224,000	1,964,365,000	1,885,454,000	1,879,641,000	1,782,242,000	1,684,002,000	1,683,797,000	1,618,446,000	1,618,647,000	1,618,651,000	1,619,019,000	1,578,618,000	1,506,546,000	1,506,546,000	1,506,546,000	1,517,946,000	1,517,945,000	1,492,945,000	1,422,880,000	1,422,877,000	1,422,875,000	1,429,869,000	1,429,653,000	1,282,602,000		1,340,038,000	1,440,006,000	1,439,974,000	1,364,942,000	1,364,911,000		1,364,847,000						1,202,028,000	1,229,949,000	1,230,824,000	1,225,144,000	1,133,137,000
deferred income taxes									299,012,000	297,954,000	258,942,000	272,988,000	273,081,000	262,462,000	263,929,000	302,346,000	340,246,000	384,760,000	378,139,000	384,953,000	380,365,000	395,089,000	376,356,000	368,834,000	379,324,000	393,140,000	372,518,000	385,651,000	381,478,000	388,430,000	756,814,000	750,413,000	740,506,000	728,806,000	700,782,000	643,951,000	632,718,000	640,778,000	585,432,000	579,222,000	538,321,000	493,662,000	474,197,000	459,249,000	438,886,000	396,806,000	375,510,000		342,232,000	316,843,000	291,470,000	278,958,000	253,284,000		189,512,000	178,336,000	173,251,000	164,788,000		162,892,000	154,988,000	95,462,000	83,430,000	96,374,000	197,800,000	183,420,000	195,874,000	234,339,000	226,845,000	214,960,000	233,962,000	209,805,000	233,607,000	219,556,000	226,249,000	230,689,000		229,043,000
defined benefit pension and other postretirement benefit plans liability							83,007,000	82,794,000	84,554,000	82,879,000	70,785,000	70,979,000	71,394,000	71,813,000	333,664,000	341,535,000	341,845,000	348,072,000	543,285,000	548,840,000	558,191,000	567,438,000	488,314,000	514,415,000	513,287,000	534,670,000	538,384,000	496,753,000	502,304,000	509,514,000	620,788,000	626,795,000	632,964,000	638,854,000	584,490,000	607,682,000	615,945,000	624,555,000	274,909,000	278,427,000	284,043,000	630,904,000	639,898,000
accumulated other comprehensive loss, net of tax benefits							-258,197,000	-297,557,000	-299,151,000		-358,024,000	-323,149,000	-315,540,000		-353,544,000	-257,532,000	-169,692,000		-40,113,000	-28,808,000	-45,280,000		-719,000	-2,159,000		-24,373,000		-63,128,000	-54,714,000		-29,220,000	-29,774,000	-32,144,000		-17,462,000	-22,017,000	-26,447,000	-23,320,000	-13,994,000	-12,683,000																				-15,383,000	-13,470,000	-141,111,000	-156,227,000	-163,627,000	-39,073,000	-63,068,000	-51,244,000	-27,781,000
short-term borrowings—other than bank												46,212,000	148,802,000	172,568,000	171,125,000	124,017,000	71,491,000	53,998,000	92,246,000	95,748,000	100,242,000	129,379,000	137,783,000	131,180,000	185,710,000	163,836,000	73,992,000	203,359,000	238,445,000	117,945,000	24,498,000	49,789,000	2,300,000		95,485,000	171,992,000	124,543,000	30,500,000	150,576,000	185,175,000	136,369,000	131,341,000	125,786,000	133,937,000	82,219,000	96,240,000	156,288,000		51,195,000			24,923,000	27,296,000		60,238,000						199,281,000	101,097,000	125,465,000	123,414,000	194,211,000
net unrealized losses on securities																																									-2,858,000
8,420,198
net unrealized gains on securities																																										-701,000	888,000
unrealized losses on derivatives																																									-466,000	-583,000	-642,000
8,168,879
7,489,348
loans receivable held for investment																														4,617,131,000	4,623,234,000	4,688,278,000	4,669,274,000	4,683,160,000	4,589,950,000	4,487,130,000	4,410,817,000	4,401,504,000	4,291,960,000	4,245,240,000	4,147,537,000	4,005,132,000	3,912,630,000	3,803,002,000	3,705,748,000	3,695,474,000	3,672,401,000		3,622,181,000	3,580,418,000	3,549,750,000	3,489,880,000
7,579,211
contributions in aid of construction																														565,668,000	565,118,000	543,204,000	541,574,000	543,525,000	513,520,000	495,667,000	482,760,000	474,385,000	448,811,000	442,379,000	438,020,000	425,916,000	419,337,000	415,795,000	387,863,000	381,206,000	378,039,000		344,110,000	339,489,000	338,070,000	335,364,000	331,405,000		323,090,000	315,455,000	314,369,000	312,933,000		302,925,000	300,847,000	286,403,000	281,944,000	277,499,000	265,739,000	262,036,000	260,692,000	242,505,000	236,330,000	234,433,000	231,118,000	231,551,000	232,642,000	221,242,000	220,630,000	220,340,000		212,814,000
7,047,813
stock in federal home loan bank of seattle, at cost																																						63,711,000
available-for-sale investment and mortgage-related securities																																							531,603,000	549,321,000	517,534,000	535,264,000	560,172,000	659,400,000	664,051,000	639,112,000	631,063,000		571,045,000	711,347,000	670,949,000	678,152,000	570,262,000		584,485,000					887,162,000	2,086,037,000	2,160,841,000	2,301,360,000	2,405,250,000	2,357,012,000	2,506,444,000	2,609,160,000	1,929,433,000	1,913,565,000	1,907,712,000	1,998,549,000	1,870,117,000	1,836,455,000	1,800,552,000	1,791,487,000	1,799,368,000		2,011,842,000
investment in stock of federal home loan bank of seattle																																							75,063,000	80,863,000	86,697,000	93,413,000	94,281,000	95,152,000	96,893,000	97,764,000	97,764,000		97,764,000	97,764,000	97,764,000	97,764,000	97,764,000		97,764,000					97,764,000	97,764,000
retirement benefits liability																																												643,104,000	497,388,000	497,687,000	513,187,000									399,539,000	395,204,000	392,351,000
assets:
other investments 1																																																233,909,000											108,818,000
investment and mortgage-related securities																																																637,123,000						574,932,000					868,530,000
loans receivable 2																																																3,618,527,000											4,156,656,000
total interest-earning assets 3																																																4,489,559,000
allowance for loan losses																																																-39,263,000						-41,485,000					-30,334,000
non-interest-earning assets																																																423,183,000						407,839,000					423,057,000
liabilities and shareholder’s equity:
interest-bearing demand and savings deposits																																																2,516,606,000						2,412,104,000					2,093,666,000
time certificates																																																598,360,000						791,248,000					1,425,334,000
total interest-bearing deposits																																																3,114,966,000						3,203,352,000					3,519,000,000
total interest-bearing liabilities																																																3,362,087,000						3,476,878,000					4,166,718,000
non-interest bearing liabilities:
deposits																																																916,957,000						818,568,000					701,062,000
shareholder’s equity																																																499,072,000
total liabilities and shareholder’s equity																																																4,873,479,000
net interest income																																																185,121,000						47,704,000					52,312,000
net interest margin (%) 4																																																4,120
less — accumulated depreciation																																																				3,165,918,000
loans receivable																																																					3,466,550,000	3,641,540,000	3,623,127,000					4,121,379,000	4,153,950,000	4,020,112,000	3,887,739,000	3,816,387,000	3,763,823,000	3,717,501,000	3,618,246,000	3,501,540,000	3,427,687,000	3,330,571,000	3,126,277,000	3,096,010,000	3,075,478,000	3,142,148,000	3,120,846,000	3,038,671,000		2,885,007,000
liabilities and stockholders’ equity
stockholders’ equity																																																								1,246,686,000	1,231,740,000	1,226,790,000
total stockholders’ equity																																																					1,479,653,000
total liabilities and stockholders’ equity																																																					8,895,167,000
other investments																																																						313,319,000
total interest-earning assets																																																						4,529,791,000					5,134,004,000
liabilities and stockholder’s equity:
stockholder’s equity																																																						504,176,000					555,712,000
total liabilities and stockholder’s equity																																																						4,896,145,000					5,526,727,000
net interest margin																																																						4,220
cash and equivalents																																																							341,330,000	6,486,000	3,676,000	4,227,000		147,774,000	189,959,000	167,020,000	152,163,000	156,093,000	146,917,000	144,945,000	155,382,000	165,395,000	168,330,000	203,398,000	171,631,000	192,481,000	322,914,000	199,601,000	213,774,000	316,481,000	25,059,000	251,467,000
federal funds sold																																																							702,000					10,433,000	17,184,000	59,009,000	75,144,000	84,804,000	44,667,000	81,121,000	85,232,000	67,080,000	58,064,000	36,060,000	75,941,000	20,087,000	50,258,000	34,677,000
balance, december 31, 2009																																																							92,521,000
comprehensive income:
net income for common stock
net unrealized gains on securities arising during the period, net of taxes of 696
retirement benefit plans:
amortization of net income, prior service gain and transition obligation included in net periodic benefit cost, net of taxes of 609
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of tax benefits of 526
comprehensive income
issuance of common stock																																																							575,000					1,214,000	524,000	1,497,000	930,000	363,000
common stock dividends
balance, march 31, 2010																																																							93,096,000
balance, december 31, 2008																																																							90,516,000
net unrealized gains on securities arising during the period, net of taxes of 5,711
amortization of net income, prior service gain and transition obligation included in net periodic benefit cost, net of taxes of 1,862
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of tax benefits of 1,668
balance, march 31, 2009																																																							91,440,000
utility plant, at cost
less accumulated depreciation																																																								-1,822,860,000	-1,796,263,000	-1,767,821,000
net utility plant																																																								2,996,119,000	2,968,781,000	2,899,864,000
current assets
customer accounts receivable																																																								133,709,000	108,242,000	93,699,000
accrued unbilled revenues																																																								92,361,000	78,505,000	79,170,000
other accounts receivable																																																								8,208,000	7,716,000	7,510,000
fuel oil stock, at average cost																																																								67,889,000	55,332,000	62,687,000
materials and supplies, at average cost																																																								36,357,000	35,072,000	35,809,000
prepayments and other																																																								13,879,000	14,657,000	10,796,000
other long-term assets
unamortized debt expense																																																								15,184,000	13,880,000	14,194,000
total other long-term assets																																																								619,871,000	605,001,000	599,985,000
capitalization and liabilities
capitalization
premium on capital stock																																																								299,207,000	299,210,000	299,214,000
accumulated other comprehensive income, net of income taxes																																																								1,824,000	1,768,000	1,710,000
common stock equity																																																								1,212,393,000	1,197,447,000	1,192,497,000
cumulative preferred stock – not subject to mandatory redemption																																																								22,293,000	22,293,000	22,293,000
noncontrolling interest – cumulative preferred stock of subsidiaries – not subject to mandatory redemption																																																								12,000,000	12,000,000	12,000,000
total capitalization																																																								2,304,470,000	2,139,473,000	2,134,471,000
current liabilities
short-term borrowings–affiliate																																																								10,700,000	45,604,000	29,339,000
interest and preferred dividends payable																																																								21,096,000	16,158,000	18,552,000
taxes accrued																																																								155,211,000	158,565,000	169,207,000
deferred credits and other liabilities
unamortized tax credits																																																								57,885,000	56,973,000	61,059,000
total deferred credits and other liabilities																																																								1,001,516,000	981,650,000	968,225,000
short-term borrowings–nonaffiliates																																																									55,000,000
net interest margin (%) 3																																																											4,080
short-term borrowings - other than bank																																																												221,952,000
long-term debt, net - other than bank																																																												1,206,965,000
minority interests
balance, december 31, 2007																																																												83,432,000	83,432,000
net income																																																																	32,323,000	27,224,000	32,337,000	37,490,000	27,580,000	24,095,000	42,672,000	11,238,000	30,932,000	30,522,000	21,890,000		118,217,000	7,134,000
net unrealized losses on securities:
net unrealized losses on securities arising during the period, net of tax benefits of 2,847
less: reclassification adjustment for net realized losses included in net income, net of tax benefits of 6,915
amortization of net income, prior service gain and transition obligation included in net periodic benefit cost, net of taxes of 1,848
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of taxes of 1,668
balance, june 30, 2008																																																												84,646,000
balance, december 31, 2006																																																												81,461,000	81,461,000	81,461,000	81,461,000	81,461,000
net unrealized losses on securities arising during the period, net of tax benefits of 1,989
retirement benefit plans - amortization of net income, prior service cost and transition obligation included in net periodic benefit cost, net of taxes of 2,622
adjustment to initially apply a puc d&o related to defined benefit retirement plans, net of taxes of 11,595
adjustment to initially apply fin 48
balance, june 30, 2007																																																												82,391,000			82,391,000
preferred stock of subsidiaries—not subject to mandatory redemption																																																													34,293,000	34,293,000					34,293,000				34,406,000	34,406,000
net unrealized gains on securities arising during the period, net of taxes of 5,808
less: reclassification adjustment for net realized gains included in net income, net of taxes of 372
amortization of net income, prior service gain and transition obligation included in net periodic benefit cost, net of taxes of 923
less: reclassification adjustment for impact of d&os of the puc included in regulatory assets, net of taxes of 834
balance, march 31, 2008																																																													83,956,000
net unrealized gains on securities arising during the period, net of taxes of 6,406
defined benefit pension plans—amortization of net income, prior service gain and transition obligation included in net periodic pension cost, net of taxes of 1,400
balance, march 31, 2007																																																													81,824,000			81,824,000
investment in stock of federal home loan bank of seattle, at cost																																																														97,764,000	97,764,000	97,764,000	97,764,000	97,764,000	97,764,000
goodwill and other intangibles																																																														85,622,000	87,130,000	86,645,000	88,011,000	88,598,000	89,023,000	89,696,000	90,140,000	90,781,000	92,185,000	93,200,000	93,114,000	95,271,000	93,947,000			97,947,000
net unrealized gains on securities arising during the period, net of taxes of 6,748
defined benefit retirement plans - amortization of net income, prior service cost and transition obligation included in net periodic benefit cost, net of taxes of 3,825
adjustment to initially apply a puc interim d&o related to defined benefit retirement plans, net of taxes of 11,595
balance, september 30, 2007																																																														82,958,000
balance, december 31, 2005																																																														80,983,000	80,983,000	80,983,000
net unrealized losses arising during the period, net of income tax benefits of 164
less: reclassification adjustment for net realized gains included in net income, net of income taxes of 690
minimum pension liability adjustment, net of tax benefits of 30
balance, september 30, 2006																																																														81,350,000
defined benefit retirement plans—amortization of net income, prior service cost and transition obligation included in net periodic benefit cost, net of taxes of 2,622
net unrealized losses on securities arising during the period, net of tax benefits of 16,697
balance, june 30, 2006																																																															81,275,000
defined benefit pension plans - amortization of net income, prior service cost and transition obligation included in net periodic pension cost, net of taxes of 1,400
net unrealized losses on securities arising during the period, net of tax benefits of 8,890
balance, march 31, 2006																																																																81,060,000
revenues
electric utility																																																																	569,838,000	503,967,000	475,056,000	491,339,000	429,730,000	374,775,000	410,077,000	370,605,000	346,613,000	359,250,000	354,529,000			341,386,000
bank																																																																	103,338,000	102,556,000	100,004,000	97,431,000	91,946,000	97,224,000	90,296,000	89,982,000	89,258,000	93,770,000	92,703,000			108,034,000
expenses
operating income																																																																													131,860,000
interest expense—other than bank																																																																	-18,275,000	-19,134,000	-19,117,000	-18,990,000	-19,130,000		-18,376,000	-19,106,000			-17,879,000			-19,937,000
allowance for borrowed funds used during construction																																																																	838,000	719,000	702,000	558,000	475,000	427,000	859,000	733,000	644,000	496,000	446,000			524,000
preferred stock dividends of subsidiaries																																																																	-471,000	-473,000	-473,000	-471,000	-474,000	-476,000	-475,000	-475,000	-475,000	-501,000	-501,000			-501,000
allowance for equity funds used during construction																																																																	1,838,000	1,588,000	1,548,000	1,406,000	1,182,000	1,087,000	1,934,000	1,673,000	1,449,000	1,098,000	989,000			998,000
income from continuing operations before income taxes																																																																	50,286,000	43,429,000		59,742,000			65,628,000		48,008,000	48,005,000
income taxes																																																																	17,963,000	16,205,000	19,474,000	22,252,000	15,167,000	14,779,000	24,869,000	38,533,000	17,076,000	17,483,000	14,739,000			17,461,000
income from continuing operations																																																																	32,323,000	27,224,000		37,490,000	28,335,000		40,759,000	11,238,000		30,522,000	25,760,000		118,217,000	28,666,000
discontinued operations-loss on disposal, net of income taxes																																																																					-755,000
basic earnings per common share																																																																			400			300			810
continuing operations																																																																	400	340		460	350		510	140		810	690			850
discontinued operations																																																																					-10		20				-100			-640
diluted earnings per common share																																																																			400			300			800
dividends per common share																																																																	310	310	310	310	310	310	310	310	620	620	620			620
weighted-average number of common shares outstanding																																																																	81,213,000	81,100,000	80,981,000	80,903,000	80,814,000	80,701,000	80,509,000	80,350,000	38,369,000	37,516,000	37,195,000			33,716,000
dilutive effect of stock options and dividend equivalents																																																																	343,000	332,000		451,000	399,000		319,000	357,000	209,000	160,000	182,000			209,000
adjusted weighted-average shares																																																																	81,556,000	81,432,000	81,363,000	81,354,000	81,213,000	81,135,000	80,828,000	80,707,000	38,578,000	37,676,000	37,377,000			33,925,000
ratio of earnings to fixed charges
excluding interest on asb deposits																																																																			2,330			2,000			2,220
including interest on asb deposits																																																																			1,950			1,760			1,930
income before income taxes																																																																			51,811,000		43,502,000	38,874,000		49,771,000			40,499,000			46,127,000
dilutive effect of stock-based compensation																																																																			382,000
available-for-sale mortgage-related securities pledged for repurchase agreements																																																																				813,136,000	821,274,000	885,650,000	916,592,000	1,000,681,000	981,631,000	937,337,000	960,085,000	989,745,000		755,764,000
investment in federal home loan bank of seattle stock																																																																				97,764,000
securities sold under agreements to repurchase																																																																				681,427,000	667,463,000	753,180,000	790,699,000	870,098,000	851,331,000	787,585,000	836,648,000	845,959,000		617,542,000
advances from federal home loan bank																																																																				1,008,200,000	1,018,200,000	998,200,000	1,020,053,000	965,052,000	935,052,000	1,037,052,000	1,039,552,000	1,057,252,000		1,183,752,000
discontinued operations-gain on disposal, net of income taxes																																																																							1,913,000
held-to-maturity investment in federal home loan bank of seattle stock																																																																					97,764,000
accumulated other comprehensive loss																																																																					-11,759,000	-36,804,000
basic earnings per common share operations
held-to-maturity investment securities																																																																						97,764,000	97,365,000	96,516,000	95,566,000	93,447,000	92,227,000	91,035,000		88,047,000
three months ended march 31																																																																						2,005,000			2,004,000			2,003,000
interest expense–other than bank																																																																						-18,835,000			-21,447,000	-17,315,000
dilutive effect of stock options and other																																																																						434,000
hei- and heco-obligated preferred securities of trust subsidiaries																																																																										200,000,000
accumulated other comprehensive income																																																																							-4,677,000	-25,792,000	20,407,000	6,861,000	20,698,000	25,854,000	30,679,000
preferred securities distributions of trust subsidiaries																																																																										-4,008,000	-4,009,000			-4,008,000
discontinued operations-income from operations, net of income tax benefits
preferred stock of subsidiaries–not subject to mandatory redemption																																																																										34,406,000
preferred stock, no par value, authorized 10,000 shares; issued: none
discontinued operations-income from operations net of income tax benefits
hei- and heco-obligated preferred securities of trust subsidiaries directly or indirectly holding solely hei and hei-guaranteed and heco and heco-guaranteed subordinated debentures																																																																											200,000,000	200,000,000		200,000,000
discontinued operations-income from operations, net of income taxes																																																																											-3,870,000
goodwill and other intangibles.																																																																												95,514,000
electric utility.
dividends per common share.
advances to and notes receivable from subsidiaries																																																																													5,600,000
available-for-sale investment securities																																																																													7,971,000
accounts receivable																																																																													1,593,000
deferred income tax assets																																																																													13,110,000
other assets																																																																													4,152,000
net assets of discontinued operations																																																																													787,000
investments in subsidiaries, at equity																																																																													1,512,423,000
notes payable to subsidiaries																																																																													10,922,000
loan from hei preferred funding, lp																																																																													103,000,000
net liabilities of discontinued operations
note to balance sheets
long-term debt consisted of the following:
promissory notes, 6.2 - 7.6%, due in various years from 2003 through 2014																																																																													301,000,000
promissory note, 5.5%, due in 2003																																																																													100,000,000
revenues 1																																																																													-3,881,000
equity in income from continuing operations of subsidiaries																																																																													152,725,000
expenses:
operating, administrative and general																																																																													15,633,000
depreciation of property, plant and equipment																																																																													891,000
taxes, other than income taxes																																																																													460,000
interest expense																																																																													37,576,000
income from continuing operations before income tax benefits																																																																													94,284,000
income tax benefits																																																																													23,933,000
income from discontinued subsidiary operations
minimum pension liability																																																																														33,358,000
discontinued operations, net of income taxes
income from operations																																																																														-711,000
net income on disposals																																																																														-20,821,000
income from discontinued operations																																																																														-21,532,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2018-12-31	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-03-31	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31	2006-09-30	2006-06-30	2006-03-31	2005-09-30	2005-06-30	2005-03-31	2004-09-30	2004-06-30	2004-03-31	2003-09-30	2003-06-30	2003-03-31	2002-09-30

cash flows from operating activities
net income	30,450,000		26,558,000	27,144,000	-67,772,000	-103,931,000	-1,295,011,000	42,595,000	49,262,000	41,589,000	55,083,000	55,194,000	57,821,000	62,553,000	53,014,000	69,640,000	110,959,000	7,921,000	64,345,000	64,831,000	50,958,000	65,503,000	-7,970,000	40,720,000	-12,398,000	60,544,000	39,134,000	34,666,000	32,825,000	35,491,000	32,339,000	48,286,000	41,894,000	46,400,000	48,707,000	41,061,000	34,152,000	48,177,000	39,273,000	38,789,000	34,698,000	48,875,000	27,612,000	28,935,000	25,171,000	32,920,000	29,735,000	27,599,000	33,954,000			37,281,000	5,136,000	33,967,000	19,881,000	17,549,000	6,764,000	32,323,000	27,224,000	32,337,000
adjustments to reconcile net income to net cash from operating activities
depreciation of property, plant and equipment	66,541,000	64,132,000	65,993,000	65,766,000	56,814,000	67,999,000	68,131,000	68,757,000	66,969,000	67,490,000	66,724,000	66,508,000	65,994,000	63,963,000	63,122,000	62,990,000	74,036,000	49,201,000	61,494,000	61,427,000	59,440,000	59,307,000	43,980,000	53,091,000	42,661,000	50,061,000	50,011,000	50,051,000	48,594,000	45,866,000	45,865,000	43,177,000	43,216,000	43,181,000	40,512,000	40,117,000	39,726,000	37,429,000	37,606,000	37,911,000	36,636,000	36,273,000	37,535,000	37,708,000	37,414,000	37,503,000	39,808,000	39,798,000	36,917,000	38,505,000	38,494,000	37,690,000	37,851,000	37,882,000	36,950,000	37,201,000	36,856,000	35,288,000	35,313,000	35,261,000	33,417,000	33,469,000	33,505,000	31,239,000	31,524,000	31,302,000	30,364,000	30,131,000	30,056,000	29,041,000
other amortization	8,906,000	9,824,000	10,112,000	10,796,000	-5,291,000	12,521,000	12,509,000	12,093,000	10,362,000	11,135,000	11,247,000	10,362,000	9,856,000	9,782,000	9,709,000	9,425,000	15,486,000	-838,000	6,945,000	10,951,000	13,084,000	13,525,000	-4,871,000	8,745,000	-6,864,000	9,261,000	3,729,000	2,372,000	1,928,000	2,958,000	1,362,000	1,440,000	2,405,000	1,609,000	-516,000	1,933,000	935,000	1,812,000	1,580,000	1,419,000	4,766,000	2,587,000	9,611,000	2,354,000	1,610,000	846,000	584,000	1,565,000	1,553,000	1,890,000	594,000	-276,000	1,343,000	2,860,000	4,699,000	1,896,000	2,680,000	3,579,000	2,015,000	2,196,000	1,704,000	5,863,000	-2,000	4,489,000	4,803,000	4,843,000	8,488,000	9,397,000	7,798,000	6,451,000
loss on sale of a subsidiary				13,211,000
deferred income tax benefit	-4,055,000	-9,464,000
share-based compensation expense	1,202,000	-609,000	2,777,000	754,000	430,000	86,000	1,787,000	1,288,000	2,251,000	2,362,000	3,888,000	2,031,000	3,029,000	1,744,000	3,476,000	2,117,000			2,852,000	2,602,000	361,000	1,390,000		1,657,000		1,098,000	2,229,000	1,056,000	1,013,000
allowance for equity funds used during construction	-3,764,000	-3,821,000	-3,702,000	-3,585,000	-3,510,000	-3,300,000	-3,336,000	-3,640,000	-4,091,000	-4,000,000	-3,772,000	-3,301,000	-3,143,000	-2,552,000	-2,470,000	-2,409,000	-2,539,000	-2,427,000	-2,377,000	-2,191,000	-2,212,000	-2,347,000		-3,294,000	-3,575,000	-3,482,000	-3,027,000	-2,399,000	-1,739,000	-1,896,000	-1,413,000	-1,937,000	-1,387,000	-1,609,000															-2,628,000	-4,120,000	-3,605,000	-2,426,000	-2,105,000	-1,901,000	-1,336,000	-1,202,000	-1,232,000	-1,838,000	-1,588,000	-1,548,000	-1,406,000	-1,182,000	-1,087,000	-1,934,000	-1,673,000	-1,449,000	-1,098,000	-989,000	-988,000	-1,162,000
other	-3,491,000	-1,735,000	16,000	-2,809,000	-6,130,000	-9,197,000	-554,000	2,091,000	973,000	-1,605,000	-2,722,000	-988,000	-2,188,000	-1,534,000	-1,306,000	-2,552,000	-8,051,000	6,028,000	-1,518,000	-3,519,000	6,139,000	-919,000	14,606,000	2,150,000	284,000	-1,596,000	593,000	-347,000	819,000	27,000	3,281,000	-23,000	-5,864,000	5,848,000	671,000	1,495,000	869,000							145,000	3,477,000				340,000	0	86,000	-26,000	807,000	-57,000	5,263,000	457,000	1,000	607,000	259,000	1,177,000	53,000	-104,000	1,248,000	10,067,000	2,083,000	-2,261,000	1,025,000	-1,950,000	202,000	6,087,000
changes in assets and liabilities
decrease in accounts receivable and unbilled revenues	36,366,000	-67,906,000	13,514,000	378,000		-50,984,000	-38,613,000	138,369,000		-62,201,000	21,272,000	82,423,000				4,454,000						-12,206,000							28,108,000		58,331,000			22,352,000			14,335,000											7,231,000	-39,828,000	-13,435,000	101,743,000			-3,857,000			27,745,000			20,702,000		-30,483,000	26,588,000			17,575,000
increase in fuel oil stock	-10,958,000			-15,352,000										-7,523,000	-84,557,000	-35,333,000								-1,704,000										-34,260,000																		-10,439,000	-59,985,000	-9,269,000	-11,756,000
increase in materials and supplies	-2,161,000			-8,943,000				-1,329,000
decrease in regulatory assets	1,012,000			5,985,000						24,528,000	-1,722,000	-8,898,000									-9,005,000	580,000						5,909,000
increase in regulatory liabilities	-539,000	23,241,000	14,814,000	27,619,000	14,972,000	16,745,000	13,807,000	2,909,000	22,016,000	9,672,000	11,231,000	11,551,000	15,594,000	18,006,000	5,768,000	5,520,000	6,552,000	2,982,000	10,540,000	-4,716,000	-807,000	-17,472,000
increase in accounts, interest and dividends payable	35,362,000	-9,982,000	-8,390,000	21,744,000	-39,427,000	26,432,000	11,395,000	8,462,000	-10,837,000	35,904,000	10,198,000	24,748,000	-10,840,000	-23,106,000	-9,375,000	71,490,000			-4,994,000	7,677,000	726,000	27,542,000		22,808,000		-65,841,000	-16,395,000	71,846,000	30,135,000					-9,307,000			38,148,000
change in prepaid and accrued income taxes, tax credits and utility revenue taxes	-45,457,000	23,177,000	15,098,000	-54,036,000	9,496,000	9,449,000	-32,842,000	-11,628,000	11,613,000	20,311,000	2,134,000	-47,305,000	48,357,000	51,106,000	37,101,000	-14,928,000			23,695,000	-25,513,000	-2,860,000	-20,444,000		-29,842,000		40,782,000	4,221,000	-42,175,000
change in defined benefit pension and other postretirement benefit plans asset/liability	-2,073,000
change in other assets and liabilities	-46,310,000	-10,268,000	16,271,000	-37,192,000	23,081,000	-38,767,000	65,463,000	-103,589,000	76,046,000	-33,193,000	5,872,000	-43,033,000	15,795,000	10,849,000	151,000	-55,411,000	-29,082,000	16,000,000	-5,705,000	-34,095,000	-4,646,000	-20,423,000	4,696,000	-31,892,000	4,445,000	11,611,000	-6,780,000	-27,142,000	4,499,000	-66,972,000	19,826,000	-30,806,000	10,337,000	-27,208,000
net cash from operating activities	61,031,000	100,252,000	134,751,000	49,665,000	136,570,000	157,464,000	68,828,000	124,619,000	76,333,000	103,521,000	190,665,000	180,952,000	241,489,000	138,345,000	-17,943,000	92,585,000	177,417,000	80,669,000	75,857,000	41,730,000	117,139,000	114,885,000	135,934,000	34,677,000	44,043,000	105,120,000	92,089,000	93,934,000	170,592,000	27,653,000	76,650,000	127,215,000	26,774,000	19,421,000	115,934,000	82,473,000	48,319,000				149,277,000	45,908,000			151,130,000	104,334,000	75,384,000	9,869,000	46,668,000	65,107,000	115,204,000	57,667,000	-9,516,000	25,968,000	90,563,000	28,514,000	50,901,000	55,693,000	76,890,000	70,799,000	86,212,000	22,653,000	47,514,000	78,883,000	94,757,000	60,756,000	90,644,000	80,430,000	55,604,000	105,789,000
cash flows from investing activities
proceeds from sale of subsidiaries		8,000,000	0	5,781,000
capital expenditures	-103,535,000	-93,957,000	-74,955,000	-86,538,000	-85,606,000	-78,780,000	-80,315,000	-99,550,000	-105,932,000	-106,489,000	-111,578,000	-124,297,000	-107,759,000	-88,529,000	-68,586,000	-79,163,000	-110,778,000	-55,332,000	-74,335,000	-74,079,000	-87,723,000	-98,356,000	0	-133,352,000	-127,194,000	-92,158,000	-84,061,000	-138,185,000	-127,818,000	-83,225,000	-59,011,000	-86,750,000	-83,424,000	-65,829,000	0	0	0				0	0			0	0	0	0	-64,349,000	-94,582,000	-80,510,000	-70,972,000	-53,094,000	-48,882,000	-59,236,000	-44,365,000	-35,521,000	-49,291,000	-52,374,000	-45,317,000	-60,550,000	-47,043,000	-39,103,000	-54,816,000	-46,885,000	-39,758,000	-34,756,000	-34,762,000	-25,460,000	-30,070,000
free cash flows	-42,504,000	6,295,000	59,796,000	-36,873,000	50,964,000	78,684,000	-11,487,000	25,069,000	-29,599,000	-2,968,000	79,087,000	56,655,000	133,730,000	49,816,000	-86,529,000	13,422,000	66,639,000	25,337,000	1,522,000	-32,349,000	29,416,000	16,529,000	135,934,000	-98,675,000	-83,151,000	12,962,000	8,028,000	-44,251,000	42,774,000	-55,572,000	17,639,000	40,465,000	-56,650,000	-46,408,000	115,934,000	82,473,000	48,319,000				149,277,000	45,908,000			151,130,000	104,334,000	75,384,000	9,869,000	-17,681,000	-29,475,000	34,694,000	-13,305,000	-62,610,000	-22,914,000	31,327,000	-15,851,000	15,380,000	6,402,000	24,516,000	25,482,000	25,662,000	-24,390,000	8,411,000	24,067,000	47,872,000	20,998,000	55,888,000	45,668,000	30,144,000	75,719,000
net cash from investing activities	-101,912,000	-84,863,000	-73,997,000	-78,493,000	282,378,000	-57,583,000	39,115,000	-5,592,000	112,239,000	-86,784,000	-145,386,000	-137,468,000	-333,920,000	-297,731,000	-269,317,000	-227,714,000	-982,003,000	573,843,000	-253,412,000	-518,020,000	-269,015,000	-515,377,000		-231,051,000	68,072,000	-40,917,000	-168,018,000	-231,424,000	-215,251,000	-139,909,000	-87,797,000	-104,890,000	-197,870,000	-74,232,000															29,160,000	36,137,000	157,213,000	32,758,000	1,150,976,000	-29,829,000	-14,230,000	-22,501,000	-95,360,000	105,204,000	-66,657,000	-98,963,000	-154,953,000	-53,559,000	1,703,000	-99,102,000	-148,329,000	-60,448,000	-61,830,000	-91,899,000	-123,174,000	-78,174,000
cash flows from financing activities
repayment of long-term debt	-5,042,000	-63,667,000	-532,741,000	-98,067,000		-2,977,000	-1,620,000	-8,268,000		-1,891,000	-8,548,000	-53,878,000		-1,722,000	-1,584,000	-13,446,000				-50,699,000									-75,000,000			0																				0	0	-50,000,000	-10,000,000	0	-126,000,000	0	-100,000,000	-10,000,000	0	-6,000,000	-47,000,000	0			0	-192,000,000	-18,000,000	0
withheld shares for employee taxes on vested share-based compensation	-128,000	0	0	-178,000		0	-4,000	-1,070,000		0	-18,000	-2,338,000		-79,000	-14,000	-3,065,000			-5,000	-1,997,000		0		-991,000		-9,000	-100,000	-3,687,000
preferred stock dividends of subsidiaries		-471,000	-473,000	-473,000		-471,000	-473,000	-473,000		-471,000	-473,000	-473,000		-471,000	-473,000	-473,000			-473,000	-473,000		-471,000		-473,000		-471,000	-473,000	-473,000	-473,000	-473,000	-473,000	-471,000	-473,000	-473,000														499,000
net cash from financing activities	-8,057,000	374,933,000	-535,684,000	-102,206,000		506,569,000	-43,836,000	-310,878,000		346,168,000	-45,441,000	71,139,000		173,506,000	144,702,000	131,283,000		-574,140,000	143,970,000	408,957,000		11,641,000	-159,326,000	179,278,000	-97,605,000	-72,411,000	52,080,000	93,268,000	78,924,000	120,775,000	127,773,000	-18,147,000	90,353,000	103,895,000	68,535,000	-63,735,000	107,278,000	-55,277,000	66,510,000	62,659,000	-5,410,000	-73,689,000	-94,000	95,228,000					-82,720,000	3,328,000	-294,493,000	-46,884,000	-1,190,396,000	1,149,000	-77,611,000	-19,603,000	28,055,000	-195,723,000	-24,669,000	52,873,000	75,448,000	19,256,000	17,034,000	53,800,000	-106,679,000	90,580,000	-2,789,000	-93,937,000	139,633,000
net decrease in cash, cash equivalents and restricted cash	-48,938,000													14,120,000	-142,558,000	-3,846,000
cash, cash equivalents and restricted cash, beginning of period	980,746,000					0	0	694,574,000		0	0	204,927,000		0	0	311,462,000		-295,653,000	0	358,979,000		0
cash, cash equivalents and restricted cash, end of period	931,808,000					606,450,000	64,107,000	502,723,000		362,905,000	-162,000	319,550,000		14,120,000	-142,558,000	307,616,000		-215,281,000	-33,585,000	291,646,000		-388,851,000
less: restricted cash	-478,968,000	3,635,000	-123,000	-482,480,000		2,777,000	1,109,000	-17,531,000		-10,060,000	-888,000	-4,216,000		1,488,000	526,000	-5,912,000		4,305,000	3,449,000	-14,067,000		7,495,000
cash and cash equivalents, end of period	452,840,000					609,227,000	65,216,000	485,192,000		352,845,000	-1,050,000	315,334,000		15,608,000	-142,032,000	301,704,000		-210,976,000	-30,136,000	277,579,000		-381,356,000		244,785,000		-8,208,000	-23,849,000	234,230,000	334,743,000	8,519,000	292,168,000	4,178,000	-80,743,000	269,120,000	61,330,000	-108,996,000	262,708,000	-39,037,000	-28,797,000	236,346,000		16,737,000	-49,508,000	316,254,000		109,164,000
net income, including loss from discontinued operations in 2024
adjustments to reconcile net income to net cash from operating activities - continuing operations
loss from discontinued operations
loss on sale of subsidiaries and impairment loss on assets sold and held for sale
assets impairment
decrease in fuel oil stock		3,336,000				36,964,000				-9,376,000	14,534,000	33,429,000																	22,812,000																				-12,557,000	7,355,000	15,028,000
decrease in materials and supplies		-1,522,000
decrease in defined benefit pension and other postretirement benefit plans liability		-553,000	-2,211,000	-1,499,000		-1,910,000	-3,854,000	-930,000	-2,150,000	-2,418,000	-2,354,000	-1,950,000	-963,000	-1,530,000	-1,389,000	-1,309,000	-2,758,000			-2,621,000												-880,000	-896,000	-818,000
increase in wildfire-related claims
net cash from operating activities-continuing operations		100,252,000	134,751,000	49,665,000
net cash from operating activities-discontinued operations
net cash from investing activities-continuing operations		-84,863,000	-73,997,000	-78,493,000
net cash from investing activities-discontinued operations
repayment of short-term debt										0								15,000,000	0	-65,000,000		0
proceeds from issuance of long-term debt						531,000	0	4,673,000		375,000,000	100,000,000	150,000,000		0	60,000,000	7,312,000		-76,487,000	29,687,000	161,800,000		13,204,000	0		50,000,000	0			75,000,000			0			0	0	50,000,000	40,000,000			0	0	0	125,000,000					150,018,000	20,000	3,148,000	3,905,000	4,905,000	9,897,000	9,094,000	5,648,000	215,679,000				4,882,000	5,158,000	48,485,000	452,000	51,749,000	50,324,000	271,000	66,146,000	100,943,000	4,485,000
net proceeds from issuance of common stock																													3,022,000	1,000	104,468,000	23,862,000	-6,000	3,054,000	6,389,000	7,291,000	4,703,000	4,972,000	5,969,000	5,940,000	1,118,000	2,790,000	6,397,000	5,674,000	6,034,000	5,883,000	5,232,000	5,557,000	2,218,000	1,421,000	7,365,000	5,594,000	9,159,000	6,314,000	7,108,000	5,930,000	2,411,000	911,000	2,378,000	103,000	314,000			2,356,000	-255,000	106,255,000	6,890,000	10,866,000	5,259,000	4,973,000
net cash from financing activities-continuing operations		374,933,000
net cash from financing activities-discontinued operations
net increase in cash, cash equivalents and restricted cash, including cash from discontinued operations
cash, cash equivalents and restricted cash, including cash from discontinued operations, beginning of period		0	0	1,242,852,000
cash, cash equivalents and restricted cash, including cash from discontinued operations, end of period		390,322,000	-474,930,000	1,111,818,000
less: cash from discontinued operations
cash and cash equivalents from continuing operations, end of period		393,957,000	-475,053,000	629,338,000
loss on sale of a subsidiary and impairment loss on assets held for sale
increase in regulatory assets							-6,247,000	-17,178,000								-5,089,000														-9,149,000	-10,827,000	200,000	-8,473,000	-9,258,000
increase in wildfire tort-related claims					0	203,000,000
net decrease in cash, cash equivalents and restricted cash, including cash from discontinued operations			-474,930,000	-131,034,000
income from discontinued operations
deferred income tax expense				-316,000			-457,336,000	1,826,000
decrease in wildfire tort-related claims
adjustments to reconcile net income to net cash from operating activities-continuing operations
loss (income) from discontinued operations
loss (gains) on sale of equity-method investment
asset impairment					0
decrease (increase) in accounts receivable and unbilled revenues																			-47,548,000	5,664,000							-57,000	-12,337,000				-15,957,000			9,176,000					37,562,000
decrease (increase) in fuel oil stock								-14,025,000											-27,281,000	-16,400,000	2,303,000	316,000	11,998,000				1,482,000	-7,444,000			20,731,000				-19,642,000
decrease (increase) in regulatory assets					-9,480,000								322,000	21,322,000					-2,862,000	-14,869,000			15,726,000	-16,900,000		-4,257,000			1,585,000
acquisition of business													0
consolidated statements of cash flows
benefit from credit losses						248,000	-1,910,000	-2,159,000					2,729,000	-186,000					-12,207,000	-8,435,000	11,307,000	13,970,000
loans originated, held for sale						-26,171,000	-32,063,000	-25,318,000	-14,584,000	-22,376,000	-9,462,000	-5,450,000	-8,000,000	-11,500,000	-34,764,000	-73,931,000			-76,860,000	-162,901,000	-183,661,000	-103,126,000
proceeds from sale of loans, held for sale						28,130,000	30,809,000	26,450,000	13,076,000	21,490,000	8,934,000	5,662,000	10,147,000	12,058,000	38,670,000	75,629,000			95,635,000	170,862,000	180,405,000	127,979,000		33,114,000
gain on sale of loans						-363,000	-363,000	-425,000	-209,000	-341,000	-230,000	-130,000	-62,000	-181,000	-372,000	-1,077,000			-1,925,000	-4,300,000	-7,801,000	-7,681,000
goodwill impairment						0
decrease (increase) in materials and supplies						-884,000
principal repayments on available-for-sale investment securities						27,197,000	26,930,000	25,615,000	31,651,000	48,763,000	35,795,000	32,484,000	56,835,000	76,425,000	104,440,000	104,654,000			135,842,000	184,755,000	147,113,000	149,787,000		51,895,000		55,363,000	51,463,000	48,200,000	48,819,000	35,082,000	28,486,000
proceeds from repayments or maturities of held-to-maturity investment securities						23,615,000	15,665,000	13,752,000	14,537,000	17,219,000	17,666,000	17,938,000	18,999,000	2,501,000	3,385,000	4,547,000
purchase of stock from federal home loan bank						0	-14,265,000	-21,856,000	-15,160,000	-13,640,000	-26,440,000	-35,960,000	-80,768,000	-74,280,000					-10,484,000	-22,296,000	-3,344,000	-1,040,000		-2,853,000		0	-2,380,000	-488,000	-1,373,000
redemption of stock from federal home loan bank						0	17,550,000	4,095,000	18,432,000	13,640,000	18,440,000	52,520,000	69,208,000	72,480,000					10,484,000	20,976,000	5,584,000	0		2,400,000		2,000,000			833,000
net decrease (increase) in loans held for investment						-8,284,000	76,219,000	42,853,000					-266,307,000	-182,441,000										-75,006,000				890,000
proceeds from sale of commercial loans						9,119,000	0	31,067,000	0	28,010,000														7,149,000		17,934,000	0	13,493,000
purchase of loans held for investment									0	0	-13,183,000	-13,012,000	-25,230,000
contributions to low income housing investments									-942,000			-418,000	-104,000						-3,273,000	-3,205,000	-5,452,000	-2,000,000		-1,425,000
net decrease in deposit liabilities						-37,263,000																																											-120,767,000	14,584,000	-26,051,000	-87,822,000			-45,135,000
net decrease in short-term borrowings with original maturities of three months or less																													-7,578,000
net decrease in other bank borrowings with original maturities of three months or less
proceeds from issuance of short-term debt										0	0	65,000,000										0
proceeds from issuance of other bank borrowings						0	0	320,000,000		0	450,000,000	550,000,000										0
repayment of other bank borrowings						0	0	-550,000,000		0
common stock dividends										-34,064,000	-39,447,000	-39,446,000		-38,315,000	-38,301,000	-38,301,000		-9,464,000	-37,155,000	-37,156,000		-36,029,000		-33,741,000	13,382,000	-33,723,000	-33,713,000	-33,713,000	-27,716,000	-33,311,000	-31,829,000	-31,782,000	-31,457,000	-31,435,000															-22,804,000	-28,362,000	-22,765,000	-20,996,000	-20,821,000	-20,676,000	-20,458,000	-20,314,000	-20,166,000	-25,187,000	-25,170,000	-25,112,000	-25,080,000	-25,067,000	-25,006,000	-24,953,000	-24,903,000	-19,039,000	-18,843,000	-18,702,000	-18,627,000	-18,421,000
net increase in cash, cash equivalents and restricted cash						606,450,000	64,107,000	-191,851,000		362,905,000	-162,000	114,623,000							-33,585,000	-67,333,000		-388,851,000
net increase in deposit liabilities								-140,714,000		61,116,000	-165,676,000	60,905,000		5,349,000	-35,736,000	117,060,000			128,136,000	358,337,000		8,185,000		86,095,000		27,940,000	49,296,000	126,161,000	114,678,000	51,943,000	127,913,000	8,937,000	46,873,000	105,510,000	34,600,000	-36,378,000	82,704,000	-9,953,000	11,537,000	55,172,000	7,231,000	7,852,000	19,694,000	59,883,000										-16,904,000			1,525,000	-6,731,000	-63,544,000	52,980,000	98,515,000	86,444,000	70,706,000	104,181,000	55,861,000	-3,883,000	65,820,000	71,641,000	14,429,000	12,439,000
net increase in other bank borrowings with original maturities of three months or less								73,000,000		0	-32,380,000	-564,430,000		167,430,000	104,225,000	49,080,000			26,980,000	13,015,000		26,900,000
loss (gains) on sale of investment securities, net and equity-method investment
increase in accounts receivable and unbilled revenues														-57,978,000										-7,829,000																												-47,470,000
available-for-sale investment securities purchased													0	0	-75,009,000	-291,168,000			-319,297,000	-781,992,000	-375,720,000	-509,292,000		-88,403,000		-73,957,000	-123,632,000	-171,878,000	-122,387,000	-144,740,000	-63,370,000
proceeds from sale of available-for-sale investment securities																			0	197,354,000	0	0										0	0	79,564,000
purchases of held-to-maturity investment securities																			-98,910,000	-88,262,000	-118,136,000
proceeds from sale of residential loans
proceeds from sale of real estate held for sale
provision for credit losses										8,835,000	43,000	1,175,000				-3,263,000
gain on sales of investment securities, net and equity-method investment														0	0	-8,123,000
deferred income taxes										-4,285,000	-233,000	-1,076,000	-10,871,000	-6,948,000	-9,428,000	-5,255,000	6,935,000	-4,978,000	-5,159,000	-2,196,000	12,758,000	7,101,000		-2,889,000	16,640,000	4,350,000	6,951,000	10,096,000																							-2,530,000	12,771,000	5,289,000	-5,874,000	-5,948,000	-6,212,000	-5,908,000	-1,463,000	-4,659,000	-2,839,000	17,777,000	3,659,000	-1,593,000	17,945,000	-4,557,000	1,764,000	56,000	-1,882,000	-2,783,000	35,880,000
net increase in loans held for investment										-75,084,000										23,922,000	144,996,000	-45,951,000							-28,137,000	-10,682,000	-12,524,000	-47,644,000	-99,235,000	-37,887,000																		-26,469,000	23,042,000	-52,401,000	-125,984,000	-72,862,000	-41,232,000	-37,699,000	-101,018,000	-58,078,000
net increase in short-term borrowings with original maturities of three months or less										-46,212,000	-2,772,000	-88,666,000		47,108,000	52,526,000	17,493,000			-4,494,000	35,751,000		6,501,000		120,485,000		-25,291,000	47,489,000	2,300,000		94,043,000	-88,472,000	-34,599,000	48,806,000	30,887,000	5,555,000	-8,151,000	50,244,000	-14,021,000	-60,048,000	87,467,000	17,626,000						-5,226,000	18,249,000				8,614,000	22,671,000	107,501,000	-24,368,000	15,059,000	-65,866,000													-20,610,000
net decrease in loans held for investment												-68,871,000				28,076,000																														110,225,000	22,945,000	38,072,000	91,325,000	141,660,000	163,721,000
gain on sale of investment securities																			0	-528,000	0	0
proceeds from sale of low income housing investments
gain on sale of real estate, held for sale
state refundable credit
bad debt expense
decrease in accounts receivable
decrease in accrued unbilled revenues
increase in accounts payable																																																2,155,000	20,107,000	4,125,000	-24,873,000	8,586,000	34,207,000	11,667,000	47,796,000	-613,000	7,049,000	-10,109,000	4,389,000	516,000	36,448,000	-22,065,000	14,144,000	20,502,000	9,488,000	10,828,000	-16,343,000	31,198,000	8,149,000	30,808,000
change in prepaid and accrued income taxes, tax credits and revenue taxes
preferred stock dividends of hawaiian electric and subsidiaries
net decrease in short-term borrowings from non-affiliates and affiliates with original maturities of three months or less
net increase in cash and cash equivalents																												-44,222,000	34,265,000	8,519,000	116,626,000			49,084,000			43,046,000
increase in defined benefit pension and other postretirement benefit plans liability																							11,229,000	-390,000	-66,000	250,000	-592,000	1,012,000	137,000	95,000	123,000
proceeds from sale of low-income housing investments																						0
repayment of long-term debt and funds transferred for repayment of long-term debt																						-1,046,000
principal repayments of held-to-maturity investment securities																				20,185,000		19,647,000
provision for loan losses																																												4,550,000		5,961,000			5,200,000	13,500,000	8,300,000	1,979,000	1,155,000	900,000								0	-3,100,000			-1,600,000	600,000	1,025,000	1,150,000	1,500,000
repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds																										0
cash and cash equivalents, beginning of period																								261,881,000		0	0	278,452,000	300,478,000	0	175,542,000	0	0	220,036,000	0	0	219,662,000	0	0	270,265,000		0	0	330,651,000		0
decrease (increase) in accounts receivable
increase in accrued unbilled revenues
contributions in aid of construction																							6,238,000	4,330,000	24,130,000	23,032,000	6,921,000	10,650,000	13,761,000	9,944,000	9,145,000	8,531,000	6,251,000	6,958,000	6,445,000	5,478,000	11,710,000	6,125,000	4,126,000	22,855,000	8,428,000	6,953,000	2,404,000	5,749,000	5,780,000	7,345,000	5,701,000	3,729,000	2,555,000	2,555,000	2,362,000	5,003,000	3,427,000	3,836,000	5,536,000	5,081,000	2,495,000	2,605,000	3,999,000	6,623,000	4,830,000	3,573,000	1,871,000	2,409,000	2,096,000	1,352,000	2,391,000	3,063,000	4,842,000
proceeds from issuance of common stock
net increase in short-term borrowings from non-affiliates and affiliate with original maturities of three months or less
proceeds from other borrowings																																																											429,350,000	206,490,000
cash and cash equivalents, january 1
cash and cash equivalents, december 31
benefit from loan losses																								3,541,000		490,000	2,834,000	3,907,000	4,766,000	1,825,000	614,000	1,550,000	1,021,000	995,000	54,000	-959,000	1,858,000	3,580,000	2,378,000	3,546,000	4,082,000	3,822,000						5,359,000							2,700,000
loans originated and purchased, held for sale																								-36,409,000
proceeds from sale of real estate acquired in settlement of loans																								589,000		226,000	0	185,000	232,000	652,000	606,000	768,000	733,000	1,429,000	3,065,000	2,666,000	3,046,000	3,623,000	2,665,000	3,371,000	2,722,000	1,321,000	2,724,000	1,253,000	2,562,000	1,287,000																		169,000	120,000	460,000	2,373,000	678,000	1,022,000
net increase in retail repurchase agreements																								11,946,000		15,421,000	-12,023,000	21,071,000	19,041,000	-7,943,000	21,451,000			141,000							10,296,000	-1,189,000	-5,565,000	7,368,000							-2,366,000	-2,910,000	-34,812,000	14,432,000	15,615,000	11,829,000	23,370,000	23,927,000	13,786,000	7,864,000	9,004,000	3,285,000	5,428,000	13,783,000	6,560,000	85,000	1,785,000	5,045,000	3,880,000	4,845,000
proceeds from other bank borrowings																								60,000,000		0			20,835,000						95,000,000														0	0	310,000,000	1,210,501,000	356,084,000	152,500,000	353,635,000	311,909,000	238,988,000
repayments of other bank borrowings																								-60,000,000		-50,000,000	-59,500,000	-13,534,000	-39,369,000																				-27,000,000	-25,000,000	-552,517,000	-1,158,000,000	-1,473,519,000	-188,600,000	-354,950,000	-197,572,000	-238,813,000
net decrease in cash and cash equivalents																								-17,096,000		-8,208,000						4,178,000
principal repayment of held-to-maturity investment securities																								1,032,000
impairment of utility assets
decrease (increase) in accrued unbilled revenues
funds transferred for redemption of special purpose revenue bonds
loans receivable originated and purchased, held for sale																										-36,221,000	-33,870,000	-35,725,000	-42,719,000	-89,851,000	-79,070,000	-32,867,000	-22,658,000	-46,998,000															-77,380,000	-120,110,000	-171,390,000	-44,736,000	-47,927,000	-66,664,000	-12,525,000
proceeds from sale of loans receivable, held for sale																										39,787,000	39,356,000	40,588,000	40,363,000	94,935,000	78,332,000	31,878,000	26,320,000	48,720,000	74,978,000	45,989,000	102,254,000	141,131,000	76,461,000	85,252,000	146,769,000	55,334,000	28,781,000	43,048,000	85,819,000	139,004,000	84,769,000	82,814,000	77,521,000	130,325,000	192,367,000	32,767,000	57,303,000	67,223,000	4,465,000
proceeds from sale of real estate held-for-sale
income tax credits
change in cash overdraft																																0	0	-1,038,000
decrease in accounts payable
increase in deferred income taxes																													13,008,000	7,715,000	15,265,000	20,648,000	21,954,000	6,298,000
excess tax benefits from share-based payment arrangements																													-380,000	-16,000	-968,000	-4,000	-103,000	-164,000																	-21,000	41,000	-585,000	-28,000	-87,000	-26,000	-233,000	-130,000	-251,000	-316,000
change in prepaid and accrued income taxes and utility revenue taxes																													-14,343,000	57,007,000	-61,397,000	30,466,000	-13,036,000	-19,474,000
decrease in accounts, interest and dividends payable																														-13,613,000	-42,463,000	-10,969,000
redemption of stock from federal home loan bank of seattle																															5,590,000	5,799,000
gain on sale of credit card portfolio
available-for-sale investment and mortgage-related securities purchased																																-5,047,000	-45,619,000	-79,912,000															-57,330,000	-80,731,000	-109,364,000	-34,849,000	-310,664,000	-66,145,000	-24,781,000	-67,120,000	-132,195,000	0	-50,000,000	-125,000,000
principal repayments on available-for-sale investment and mortgage-related securities																																19,476,000	17,605,000	15,597,000	21,668,000	26,315,000	36,504,000	28,903,000	29,052,000	46,355,000	105,975,000	122,405,000	46,997,000	114,529,000	114,764,000	146,890,000	155,445,000	48,338,000	56,619,000	67,191,000	180,918,000	160,071,000	196,784,000	132,885,000	184,868,000
proceeds from sale of credit card portfolio
net decrease in retail repurchase agreements																																-4,253,000																	6,019,000
change in deferred income taxes																																			20,177,000	20,436,000	19,967,000	41,041,000	20,281,000	21,260,000
decrease in prepaid and accrued income taxes and utility revenue taxes
contributions to defined benefit pension and other postretirement benefit plans
other increase in defined benefit pension and other postretirement benefit plans liability																																			20,579,000
proceeds from sale of available-for-sale investment and mortgage-related securities																																			0			0			0								0			0	1,290,674,000	935,000
change in excess tax benefits from share-based payment arrangements																																				31,000	414,000	25,000	-4,000	44,000
decrease (increase) in accounts, interest and dividends payable
impairment of utility plant
net incomees on sale of investment and mortgage-related securities
other-than-temporary impairment on available-for-sale mortgage-related securities
changes in deferred income taxes																																									18,487,000	21,906,000	22,364,000	16,687,000	21,970,000				-1,015,000
changes in excess tax benefits from share-based payment arrangements																																									-4,000	-16,000	33,000	22,000	-11,000	-41,000	54,000	43,000	6,000
changes in prepaid and accrued income taxes and utility revenue taxes																																									32,735,000	32,085,000							5,883,000	-8,144,000	-48,253,000
changes in other assets and liabilities																																																	-10,928,000	-13,588,000	-11,045,000	-6,951,000	-7,277,000	950,000	5,640,000	-2,992,000	307,000	21,429,000	-2,724,000	-9,293,000	-31,358,000	18,107,000	-22,680,000	-18,815,000	7,318,000	-22,305,000	7,217,000	-21,137,000	-13,812,000	-10,215,000
decrease in cash overdraft																																																	-8,885,000	4,903,000	-5,865,000	0	0	-8,582,000	-2,978,000	2,182,000	-11,280,000
increase (decrease) in cash overdraft
increase (decrease) in accounts, interest and dividends payable
gain on pension curtailment
proceeds from sale of other investments
increase in cash overdraft																																																681,000
net gain on sale of investment and mortgage-related securities
other-than-temporary impairment of available-for-sale mortgage-related securities																																																	9,863,000
proceed from sale of real estate acquired in settlement of loans																																																1,279,000
net decrease in cash and equivalents and federal funds sold																																																			-22,076,000	43,541,000	-48,936,000	-2,712,000
cash and equivalents and federal funds sold, beginning of period																																																503,922,000	0	0	183,435,000	0	0	209,855,000	0	0	257,301,000	0	0	208,947,000	0	0	173,629,000	0	22,000	279,966,000
cash and equivalents and federal funds sold, end of period																																																342,032,000	-6,892,000	104,572,000	161,359,000	43,541,000	-48,936,000	207,143,000	-1,278,000	-13,590,000	240,897,000	-34,482,000	-14,548,000	240,614,000	6,081,000	-13,064,000	239,458,000	35,004,000	-160,604,000	373,172,000
three months ended march 31, 2010
revenues from external customers																																																548,075,000
intersegment revenues																																																36,000
revenues																																																548,111,000
profit*																																																29,512,000
income taxes																																																10,961,000
net income for common stock																																																18,052,000			20,395,000
assets																																																3,957,323,000
three months ended march 31, 2009
net loss on sale of investment and mortgage-related securities																																																	0			0
preferred stock dividends of noncontrolling interest																																																	-471,000
net increase in cash and equivalents and federal funds sold																																																	-6,892,000							-13,590,000	-16,404,000	-34,482,000	-14,548,000	31,667,000	6,081,000	-13,064,000	65,829,000		-160,626,000	93,206,000
writedown of utility plant																																																							0	0	11,701,000
change in prepaid and accrued taxes
proceeds from sale of investments
decrease in taxes accrued																																																						-41,888,000		27,692,000	-34,828,000			-36,217,000			-22,356,000			-11,134,000
net proceeds from sale of investments																																																							104,000	6,239,000	2,536,000
proceeds from short-term borrowings with original maturities of greater than three months																																																									13,008,000
decrease in federal tax deposit																																																												30,000,000
increase in taxes accrued																																																													18,845,000			13,321,000			26,904,000
proceeds from sale of available-for-sale mortgage-related securities																																																													0			33,780,000	0	11,427,000
repayment of short-term borrowings with original maturities of greater than three months
cash flows from discontinued operations-net cash from operating activities																																																										344,000	-112,000	6,958,000
three months ended september 30, 2007
nine months ended september 30, 2007
three months ended september 30, 2006
nine months ended september 30, 2006
changes in assets and liabilities, net of effects from the disposal of businesses
basis of presentation
principal repayments on available-for-sale mortgage-related securities																																																									108,556,000	127,851,000	132,477,000	121,632,000	202,215,000	183,845,000	169,580,000	174,872,000	260,987,000	170,497,000	698,066,000	550,992,000	359,990,000	224,782,000
reversal of allowance for loan losses
decrease (increase) in federal tax deposit
net increase in short-term borrowings with maturities of three months or less																																																											69,019,000	40,826,000	-6,246,000	26,781,000	23,496,000		-8,795,000	22,992,000
proceeds from short-term borrowings with maturities of greater than three months
repayments of other borrowings																																																											-394,295,000	-214,300,000
three months ended june 30, 2006
income from continuing operations																																																													37,490,000	28,335,000	24,095,000	40,759,000	11,238,000	30,932,000	30,522,000	25,760,000	24,327,000	32,777,000
six months ended june 30, 2006
three months ended june 30, 2005
six months ended june 30, 2005
adjustments to reconcile income from continuing operations to net cash from operating activities
gain on sale of income notes
increase in tax deposit																																																													0
available-for-sale mortgage-related securities purchased																																																													-237,375,000	-124,430,000	-50,006,000	-229,977,000	-382,304,000	-251,509,000	-789,505,000	-666,163,000	-443,966,000	-213,432,000
distributions from unconsolidated subsidiaries																																																																0
proceeds from securities sold under agreements to repurchase																																																													163,851,000	242,255,000	267,950,000	95,300,000	273,450,000	239,900,000	565,415,000	469,960,000	492,200,000	64,820,000
repayments of securities sold under agreements to repurchase																																																													-159,650,000	-331,300,000	-332,000,000	-189,650,000	-262,400,000	-220,600,000	-614,365,000	-485,410,000	-313,500,000	-147,087,000
proceeds from advances from federal home loan bank																																																													0	88,000,000	85,000,000	79,000,000	40,000,000	10,200,000	192,500,000	56,000,000	70,000,000	131,000,000
principal payments on advances from federal home loan bank																																																													-10,000,000	-68,000,000	-75,031,000	-23,999,000	-10,000,000	-92,201,000	-195,000,000	-73,700,000	-189,000,000	-45,000,000
net cash from discontinued operations																																																													-626,000	-1,414,000	-422,000	1,423,000	-375,000	2,318,000	-5,521,000	2,699,000	-107,000	-6,051,000
originations and purchases of loans held for investment
principal repayments on loans held for investment																																																														220,988,000	244,705,000
originations of loans held for investment																																																															-326,592,000
loans receivable originated and purchased																																																																-257,321,000	-317,801,000	-294,493,000	-447,812,000	-431,188,000	-308,070,000	-283,673,000
principal repayments on loans receivable																																																																261,082,000	298,656,000	314,810,000	389,118,000	348,842,000	248,135,000	207,214,000
preferred securities distributions of trust subsidiaries																																																																			-4,008,000	-4,009,000	-4,009,000	-4,008,000
proceeds from sale of loans																																																																	10,340,000	29,027,000	37,989,000	0	14,595,000	2,240,000
three months ended june 30, 2004
six months ended june 30, 2004
three months ended june 30, 2003
net income—continuing operations
six months ended june 30, 2003
writedowns of income notes
proceeds from sale of mortgage-related securities																																																																			79,281,000	138,589,000	25,536,000	8,678,000
net decrease in cash and equivalents
cash and equivalents, beginning of period																																																																				0	244,525,000	0
cash and equivalents, end of period																																																																				-102,707,000	316,481,000	7,594,000
net increase in cash and equivalents																																																																					71,956,000	7,594,000
proceeds from sale of investment securities
repayment of other short-term borrowings
net cash from financing activities.

Hawaiian Electric Industries, Inc(NYSE:HE)

Hawaiian Electric Industries, Inc
(NYSE:HE)