HAWAIIAN ELECTRIC CO INC
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
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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, 2026 · Filed Nov 6, 2026
HE$9.08+0.1%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows (unaudited) - months ended
Condensed Consolidated Statements of Cash Flows (unaudited)
| (in thousands) | 2026 | 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income | $189,100 | $84,920 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities | ||
| Depreciation of property, plant and equipment | 199,598 | 195,891 |
| Other amortization | 26,246 | 30,732 |
| Gain on sale of ASB investment | (18,296) | — |
| Unrealized gain on remaining investment in ASB | (45,850) | — |
| Loss on sale of subsidiaries and impairment loss on assets sold and assets previously classified as held for sale | 54,452 | 12,376 |
| Deferred income taxes | 56,433 | (13,333) |
| Share-based compensation expense | 7,344 | 2,922 |
| Allowance for equity funds used during construction | (13,715) | (11,108) |
| Other | (7,330) | (4,528) |
| Changes in assets and liabilities | ||
| Increase in accounts receivable and unbilled revenues, net | (98,590) | (54,014) |
| Increase in fuel oil stock | (52,619) | (13,200) |
| Increase in materials and supplies | (10,953) | (14,412) |
| Decrease (increase) in regulatory assets | (26,146) | 2,839 |
| Increase in regulatory liabilities | 36,203 | 65,674 |
| Increase in accounts, interest and dividends payable | 112,713 | 3,372 |
| Change in prepaid and accrued income taxes, tax credits and utility revenue taxes | (3,211) | (15,761) |
| Change in defined benefit pension and other postretirement benefit plans asset/liability | (5,821) | (4,263) |
| Settlement payments | (518,750) | — |
| Increase (decrease) in wildfire-related claims | (118,147) | 47,750 |
| Change in other assets and liabilities | 6,329 | (31,189) |
| Net cash provided by (used in) operating activities | (231,010) | 284,668 |
| Cash flows from investing activities | ||
| Proceeds from sale of subsidiaries | — | 13,781 |
| Proceeds from sale of assets | 33,889 | — |
| Capital expenditures | (399,447) | (255,450) |
| Other, net | 2,286 | 4,316 |
| Net cash used in investing activities | (363,272) | (237,353) |
| Cash flows from financing activities | ||
| Repayment of short-term debt | — | (50,000) |
| Proceeds from issuance of long-term debt | — | 500,000 |
| Repayment of long-term debt | (150,760) | (694,475) |
| Withheld shares for employee taxes on vested share-based compensation | (128) | (178) |
| Preferred stock dividends of subsidiaries | — | (1,417) |
| Other | (11,150) | (16,887) |
| Net cash used in financing activities | (162,038) | (262,957) |
| Net decrease in cash, cash equivalents and restricted cash | (756,320) | (215,642) |
| Cash, cash equivalents and restricted cash, beginning of period | 980,746 | 1,242,852 |
| Cash, cash equivalents and restricted cash, end of period | 224,426 | 1,027,210 |
| Less: Restricted cash | (218) | (478,968) |
| Cash and cash equivalents, end of period | $224,208 | $548,242 |
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