HAWAIIAN ELECTRIC CO INC
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
HE$9.08+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (unaudited) - months ended
Condensed Consolidated Statements of Cash Flows (unaudited)
| (in thousands) | 2025 | 2024 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income (loss), including loss from discontinued operations in 2024 | $84,920 | $(1,356,347) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities - continuing operations | ||
| Loss from discontinued operations | — | 6,075 |
| Depreciation of property, plant and equipment | 195,891 | 196,894 |
| Other amortization | 30,732 | 23,251 |
| Loss on sale of subsidiaries and impairment loss on assets sold and held for sale | 12,376 | — |
| Deferred income tax benefit | (13,333) | (498,131) |
| Share-based compensation expense | 2,922 | 2,163 |
| Allowance for equity funds used during construction | (11,108) | (10,276) |
| Assets impairment | — | 39,642 |
| Other | (4,528) | (7,984) |
| Changes in assets and liabilities | ||
| Decrease (increase) in accounts receivable and unbilled revenues, net | (54,014) | 49,063 |
| Decrease (increase) in fuel oil stock | (13,200) | 38,152 |
| Decrease (increase) in materials and supplies | (14,412) | 440 |
| Decrease (increase) in regulatory assets | 2,839 | (13,263) |
| Increase in regulatory liabilities | 65,674 | 33,461 |
| Increase in accounts, interest and dividends payable | 3,372 | 66,049 |
| Change in prepaid and accrued income taxes, tax credits and utility revenue taxes | (15,761) | (33,217) |
| Decrease in defined benefit pension and other postretirement benefit plans liability | (4,263) | (5,949) |
| Increase in wildfire-related claims | 47,750 | 1,840,000 |
| Change in other assets and liabilities | (31,189) | (67,560) |
| Net cash provided by operating activities-continuing operations | 284,668 | 302,463 |
| Net cash provided by operating activities-discontinued operations | — | 48,448 |
| Net cash provided by operating activities | 284,668 | 350,911 |
| Cash flows from investing activities | ||
| Proceeds from sale of subsidiaries | 13,781 | — |
| Capital expenditures | (255,450) | (256,920) |
| Other | 4,316 | 1,808 |
| Net cash used in investing activities-continuing operations | (237,353) | (255,112) |
| Net cash provided by investing activities-discontinued operations | — | 231,052 |
| Net cash used in investing activities | $(237,353) | $(24,060) |
Condensed Consolidated Statements of Cash Flows (unaudited) (continued)
| (in thousands) | 2025 | 2024 |
|---|---|---|
| Cash flows from financing activities | ||
| Repayment of short-term debt | $(50,000) | $— |
| Proceeds from issuance of long-term debt | 500,000 | 5,204 |
| Repayment of long-term debt | (694,475) | (12,865) |
| Withheld shares for employee taxes on vested share-based compensation | (178) | (1,074) |
| Net proceeds from issuance of common stock | — | 556,724 |
| Preferred stock dividends of subsidiaries | (1,417) | (1,417) |
| Other | (16,887) | (12,415) |
| Net cash provided by (used in) financing activities-continuing operations | (262,957) | 534,157 |
| Net cash used in financing activities-discontinued operations | — | (382,302) |
| Net cash provided by (used in) financing activities | (262,957) | 151,855 |
| Net increase (decrease) in cash, cash equivalents and restricted cash, including cash from discontinued operations | (215,642) | 478,706 |
| Cash, cash equivalents and restricted cash, including cash from discontinued operations, beginning of period | 1,242,852 | 694,574 |
| Cash, cash equivalents and restricted cash, including cash from discontinued operations, end of period | 1,027,210 | 1,173,280 |
| Less: Restricted cash | (478,968) | (13,645) |
| Less: Cash from discontinued operations | — | (332,653) |
| Cash and cash equivalents from continuing operations, end of period | $548,242 | $826,982 |
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