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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: November 29, 1994
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<CAPTION>
Exact Name of Registrant Commission I.R.S. Employer
as Specified in Its Charter File Number Identification No.
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<S> <C> <C>
Hawaiian Electric Industries, Inc. 1-8503 99-0208097
Hawaiian Electric Company, Inc. 1-4955 99-0040500
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State of Hawaii
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(State or other jurisdiction of incorporation)
900 Richards Street, Honolulu, Hawaii 96813
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(Address of principal executive offices and zip code)
Registrant's telephone number, including area code:
(808) 543-5662 - Hawaiian Electric Industries, Inc.
(808) 543-7771 - Hawaiian Electric Company, Inc.
None
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
On November 29, 1994, Hawaiian Electric Industries, Inc. (HEI) issued the
following news release:
HAWAIIAN ELECTRIC INDUSTRIES, INC. SUBSIDIARIES RECEIVE ORDER ON
POSTRETIREMENT BENEFIT ACCOUNTING
HONOLULU -- Hawaiian Electric Industries, Inc. (NYSE - HE) today reported
that the Hawaii Public Utilities Commission issued a decision and order on
a generic docket authorizing recovery of the full cost of postretirement
benefits other than pensions. The generic docket stemmed from a new
accounting pronouncement ("Employers' Accounting for Postretirement
Benefits Other Than Pensions" - SFAS 106) which mandated accrual accounting
for the cost of postretirement benefits, rather than pay-as-you-go
accounting.
The order affects HEI's electric utility subsidiaries that serve the
islands of Oahu, Maui, Lanai, Molokai and Hawaii, as well as its maritime
freight transportation subsidiary. The order takes effect January 1, 1995.
Hawaiian Electric Industries is a diversified holding company that delivers
essential services to the people of Hawaii through its electric utility,
savings bank, maritime freight transportation and real estate development
subsidiaries.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrants have duly caused this report to be signed on their behalf by the
undersigned thereunto duly authorized. The signature of the undersigned
companies shall be deemed to relate only to matters having reference to such
companies and any subsidiaries thereof.
HAWAIIAN ELECTRIC INDUSTRIES, INC. HAWAIIAN ELECTRIC COMPANY, INC.
(Registrant) (Registrant)
/s/ Robert F. Mougeot /s/ Paul A. Oyer
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Robert F. Mougeot Paul A. Oyer
Financial Vice President and Financial Vice President and Treasurer
Chief Financial Officer (Principal Financial Officer of HECO)
(Principal Financial Officer of HEI)
Date: December 1, 1994 Date: December 1, 1994
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