HECO's First Annual Revenue Decoupling Mechanism Filing, March ...

ATTACHMENT 4.5PAGE 18 OF 36HAWAIIAN ELECTRIC COMPANY, INC.STATE ITC CALCULATION -FOR THE YEAR ENDING 12/31/2011 - ACCRUAL1. 2011 VINTAGE STATE ITC2011 Gross State ITCSTATE TAX Entries:DR State Current 1^ Liability(PA43A)CR State Current l/r ExpenseTo record 2011 vintage state ITC at grossDR State Current l/T Expense(PA43B)CR Slate Cun-ent l/T LiabilityTo record state tax expense on state ITC(gross state ITC x 6.0150376%)DR State ITC Defen-ed(PA43C)CR Ace Def State ITCTo record deferral of 2011 vintage state ITC236110004091100040911000236110004121100025520000ANNUALEST4,008,700.004,008.700.00(4.008,700.00)241,124.81(241,124.81)4.008.700.00(4,008,700.00)DR State Def'd l/r LiabilityCR Slate Def'd Tax Expense(PA43H) 2830200041013000To record state tax expense on deferral of 2011 vintage state ITC(gross state ITC x 6.0150376%)241.124.81(241,124.81)FEDERAL TAX Entries:DR Federal Cun-ent l/T Expense (PA43D)CR Federal Current l/T LiabilityTo record federal tax expense on stats ITC(gross state ITC x 32.89473684%)40901000236010001,318.651.32(1,318,651.32)DR Federal Def'd l/T Liability (PA43E) 28301000CR Federal Def'd Tax Expense 41011000To record deferral of federal tax on 2011 vintage state ITC2. 2011 AMORTIZATION OF STATE ITC2011 Amortization of State ITC ^1,318,651.32(1.318.651.32)1,637,367.00STATE TAX Entrv:DR Ace Def state ITC(PA43F)CR State ITC RestoredTo record 2011 amortization of state ITC25520004412300001.637.367.00(1,637,367.00)DR State Def'd Tax Expense (PA43I) 41013000CR State Def'd l/r Liability 28302000To record deferred tax on 2011 amortization of state ITC(amortization x 6.015%)FEDERAL TAX Entfv:DR Fed Def'd Tax Expense(PA43G) 41011000CR Fed Defd l/r Liability28301000To record federal deferred tax on 2011 amortization of state ITC(amortization x 32.8947%)98.487.63(98,487.63)538.606.96(538,606.96)