Cover Page
Cover Page - shares | 9 Months Ended | |
Sep. 30, 2023 | Oct. 31, 2023 | |
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-38515 | |
Entity Registrant Name | EVERGY, INC. | |
Entity Tax Identification Number | 82-2733395 | |
Entity Incorporation, State or Country Code | MO | |
Entity Address, Address Line One | 1200 Main Street | |
Entity Address, City or Town | Kansas City | |
Entity Address, State or Province | MO | |
Entity Address, Postal Zip Code | 64105 | |
City Area Code | 816 | |
Local Phone Number | 556-2200 | |
Title of 12(b) Security | Evergy, Inc. common stock | |
Trading Symbol | EVRG | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 229,720,757 | |
Entity Central Index Key | 0001711269 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2023 | |
Evergy Kansas Central | ||
Entity Information [Line Items] | ||
Entity File Number | 001-03523 | |
Entity Registrant Name | EVERGY KANSAS CENTRAL, INC. | |
Entity Tax Identification Number | 48-0290150 | |
Entity Incorporation, State or Country Code | KS | |
Entity Address, Address Line One | 818 South Kansas Avenue | |
Entity Address, City or Town | Topeka | |
Entity Address, State or Province | KS | |
Entity Address, Postal Zip Code | 66612 | |
City Area Code | 785 | |
Local Phone Number | 575-6300 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1 | |
Entity Central Index Key | 0000054507 | |
Evergy Metro | ||
Entity Information [Line Items] | ||
Entity File Number | 000-51873 | |
Entity Registrant Name | EVERGY METRO, INC. | |
Entity Tax Identification Number | 44-0308720 | |
Entity Incorporation, State or Country Code | MO | |
Entity Address, Address Line One | 1200 Main Street | |
Entity Address, City or Town | Kansas City | |
Entity Address, State or Province | MO | |
Entity Address, Postal Zip Code | 64105 | |
City Area Code | 816 | |
Local Phone Number | 556-2200 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1 | |
Entity Central Index Key | 0000054476 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
CURRENT ASSETS: | ||||||||
Cash and cash equivalents | $ 41 | $ 25.2 | ||||||
Receivables, net of allowance for credit losses of $21.5 and $31.4, respectively | 330.1 | 315.3 | ||||||
Accounts receivable pledged as collateral | 395 | 359 | ||||||
Fuel inventory and supplies | 739.9 | 672.9 | ||||||
Income taxes receivable | 14.9 | 9.3 | ||||||
Regulatory assets | 285 | 368 | ||||||
Prepaid expenses | 52 | 47.8 | ||||||
Other assets | 38.2 | 44.5 | ||||||
Total Current Assets | 1,896.1 | 1,842 | ||||||
PROPERTY, PLANT AND EQUIPMENT, NET | 23,141.4 | 22,136.5 | ||||||
OTHER ASSETS: | ||||||||
Regulatory assets | 1,845.6 | 1,846.3 | ||||||
Nuclear decommissioning trust fund | 711.2 | 653.3 | ||||||
Goodwill | 2,336.6 | 2,336.6 | ||||||
Other | 549.7 | 534.5 | ||||||
Total Other Assets | 5,443.1 | 5,370.7 | ||||||
TOTAL ASSETS | 30,616 | 29,489.9 | ||||||
CURRENT LIABILITIES: | ||||||||
Current maturities of long-term debt | 889.4 | 439.1 | ||||||
Notes payable and commercial paper | 2,178.4 | 1,332.3 | ||||||
Collateralized note payable | 395 | 359 | ||||||
Accounts payable | 418 | 600.8 | ||||||
Accrued taxes | 339.9 | 163 | ||||||
Accrued interest | 122.6 | 124.3 | ||||||
Regulatory liabilities | 197.9 | 155.4 | ||||||
Asset retirement obligations | 40.9 | 40.4 | ||||||
Accrued compensation and benefits | 67.4 | 81.1 | ||||||
Other | 160.2 | 198.4 | ||||||
Total Current Liabilities | 4,809.7 | 3,493.8 | ||||||
LONG-TERM LIABILITIES: | ||||||||
Long-term debt, net | 9,297.6 | 9,905.7 | ||||||
Deferred income taxes | 2,096.7 | 1,996.6 | ||||||
Unamortized investment tax credits | 172.7 | 174.6 | ||||||
Regulatory liabilities | 2,566.6 | 2,566.8 | ||||||
Pension and post-retirement liability | 469.8 | 458.4 | ||||||
Asset retirement obligations | 1,155.3 | 1,112.8 | ||||||
Other | 279.8 | 287.9 | ||||||
Total Long-Term Liabilities | 16,038.5 | 16,502.8 | ||||||
Evergy, Inc. Shareholders' Equity: | ||||||||
Common stock | 7,231.5 | 7,219.7 | ||||||
Retained earnings | 2,548 | 2,298.5 | ||||||
Accumulated other comprehensive loss | (30.5) | (34.5) | ||||||
Total Evergy, Inc. Shareholders' Equity | 9,749 | 9,483.7 | ||||||
Noncontrolling Interests | 18.8 | 9.6 | ||||||
Total Equity | 9,767.8 | $ 9,550.7 | $ 9,501.7 | 9,493.3 | $ 9,615.5 | $ 9,310.8 | $ 9,237.5 | $ 9,241.7 |
TOTAL LIABILITIES AND EQUITY | 30,616 | 29,489.9 | ||||||
Variable Interest Entities | ||||||||
CURRENT ASSETS: | ||||||||
PROPERTY, PLANT AND EQUIPMENT, NET | $ 135.4 | $ 140.7 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Allowance for credit losses | $ 21.5 | $ 31.4 |
Common stock - shares authorized (in shares) | 600,000,000 | 600,000,000 |
Common stock - shares issued (in shares) | 229,716,510 | 229,546,105 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Income Statement [Abstract] | ||||
OPERATING REVENUES | $ 1,669.3 | $ 1,909.1 | $ 4,320.3 | $ 4,579.5 |
OPERATING EXPENSES: | ||||
Fuel and purchased power | 478.4 | 643 | 1,177.4 | 1,366.3 |
SPP network transmission costs | 75.4 | 81.6 | 232 | 241.8 |
Operating and maintenance | 253.2 | 266.2 | 697.1 | 801.2 |
Depreciation and amortization | 273.3 | 233.2 | 806.1 | 694.3 |
Taxes other than income tax | 103.1 | 100.7 | 305.9 | 302.9 |
Sibley Unit 3 impairment loss | 0 | 6 | 0 | 6 |
Total Operating Expenses | 1,183.4 | 1,330.7 | 3,218.5 | 3,412.5 |
INCOME FROM OPERATIONS | 485.9 | 578.4 | 1,101.8 | 1,167 |
OTHER INCOME (EXPENSE): | ||||
Investment earnings | 6.2 | 13.1 | 22 | 2.6 |
Other income | 19.3 | 6.2 | 34.1 | 20.3 |
Other expense | (12.8) | (16.7) | (55.1) | (64.5) |
Total Other Income (Expense), Net | 12.7 | 2.6 | 1 | (41.6) |
Interest expense | 136.8 | 102.3 | 393.6 | 293.4 |
INCOME BEFORE INCOME TAXES | 361.8 | 478.7 | 709.2 | 832 |
Income tax expense | 8.8 | 49.5 | 32 | 83.1 |
Equity in earnings of equity method investees, net of income taxes | 1.6 | 2 | 5.3 | 5.5 |
NET INCOME | 354.6 | 431.2 | 682.5 | 754.4 |
Less: Net income attributable to noncontrolling interests | 3 | 3 | 9.2 | 9.2 |
Net income attributable to Evergy, Inc. | $ 351.6 | $ 428.2 | $ 673.3 | $ 745.2 |
BASIC AND DILUTED EARNINGS PER AVERAGE COMMON SHARE OUTSTANDING ATTRIBUTABLE TO EVERGY, INC. (see Note 1) | ||||
Basic earnings per common share (in dollars per share) | $ 1.53 | $ 1.86 | $ 2.93 | $ 3.24 |
Diluted earnings per common share (in dollars per share) | $ 1.53 | $ 1.86 | $ 2.92 | $ 3.23 |
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | ||||
Basic (in shares) | 230.1 | 229.9 | 230 | 229.9 |
Diluted (in shares) | 230.5 | 230.6 | 230.5 | 230.5 |
COMPREHENSIVE INCOME | ||||
NET INCOME | $ 354.6 | $ 431.2 | $ 682.5 | $ 754.4 |
Derivative hedging activity | ||||
Reclassification to expenses, net of tax | 1.5 | 1.4 | 4.1 | 4.1 |
Derivative hedging activity, net of tax | 1.5 | 1.4 | 4.1 | 4.1 |
Defined benefit pension plans | ||||
Amortization of net losses included in net periodic benefit costs, net of tax | (0.1) | 0 | (0.1) | 0.1 |
Change in unrecognized pension expense, net of tax | (0.1) | 0 | (0.1) | 0.1 |
Total other comprehensive income | 1.4 | 1.4 | 4 | 4.2 |
COMPREHENSIVE INCOME | 356 | 432.6 | 686.5 | 758.6 |
Less: Comprehensive income attributable to noncontrolling interest | 3 | 3 | 9.2 | 9.2 |
Comprehensive Income, Net of Tax, Attributable to Parent, Total | $ 353 | $ 429.6 | $ 677.3 | $ 749.4 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES: | ||
Net income | $ 682.5 | $ 754.4 |
Adjustments to reconcile income to net cash from operating activities: | ||
Depreciation and amortization | 806.1 | 694.3 |
Amortization of nuclear fuel | 46.8 | 47.7 |
Amortization of deferred refueling outage | 13.7 | 18.8 |
Amortization of corporate-owned life insurance | 19.4 | 18.3 |
Non-cash compensation | 14 | 15.2 |
Net deferred income taxes and credits | 18.6 | 54.6 |
Allowance for equity funds used during construction | (6.6) | (18.3) |
Payments for asset retirement obligations | (9.4) | (9.4) |
Equity in earnings of equity method investees, net of income taxes | (5.3) | (5.5) |
Income from corporate-owned life insurance | (26.2) | (1.2) |
Sibley Unit 3 impairment loss | 0 | 6 |
Other | 1 | 0.9 |
Changes in working capital items: | ||
Accounts receivable | (7.2) | (127.8) |
Accounts receivable pledged as collateral | (36) | (76) |
Fuel inventory and supplies | (66.3) | (48) |
Prepaid expenses and other current assets | 105.9 | 16.1 |
Accounts payable | (194.2) | (142.6) |
Accrued taxes | 171.3 | 204.8 |
Other current liabilities | (68.2) | (43.2) |
Changes in other assets | 16.5 | 92.8 |
Changes in other liabilities | 75.3 | 31.8 |
Cash Flows from Operating Activities | 1,551.7 | 1,477.7 |
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: | ||
Additions to property, plant and equipment | (1,657.9) | (1,614.6) |
Acquisition of Persimmon Creek, net of cash acquired | (217.9) | 0 |
Purchase of securities - trusts | (30.7) | (28.5) |
Sale of securities - trusts | 22.8 | 22.3 |
Investment in corporate-owned life insurance | (15.4) | (15.5) |
Proceeds from investment in corporate-owned life insurance | 118.2 | 3.4 |
Other investing activities | (11) | 7.8 |
Cash Flows used in Investing Activities | (1,791.9) | (1,625.1) |
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: | ||
Short-term debt, net | 344.7 | 62.9 |
Proceeds from term loan facility | 0 | 500 |
Collateralized short-term borrowings, net | 36 | 76 |
Proceeds from long-term debt | 690.3 | 246.9 |
Retirements of long-term debt | (350) | (387.5) |
Borrowings against cash surrender value of corporate-owned life insurance | 52.1 | 52.4 |
Repayment of borrowings against cash surrender value of corporate-owned life insurance | (89.8) | (1.2) |
Cash dividends paid | (422) | (394.1) |
Other financing activities | (5.3) | (9.5) |
Cash Flows from Financing Activities | 256 | 145.9 |
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 15.8 | (1.5) |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||
Beginning of period | 25.2 | 26.2 |
End of period | $ 41 | $ 24.7 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) $ in Millions | Total | Common Stock | Retained earnings | AOCI | Non-controlling interests |
Beginning balance (in shares) at Dec. 31, 2021 | 229,299,900 | ||||
Beginning balance at Dec. 31, 2021 | $ 9,241.7 | $ 7,205.5 | $ 2,082.9 | $ (44) | $ (2.7) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 125.6 | 122.5 | 3.1 | ||
Issuance of stock compensation and reinvested dividends, net of tax withholding (in shares) | 176,658 | ||||
Issuance of stock, net issuance costs | (4) | $ (4) | |||
Dividends declared on common stock | (131.3) | (131.3) | |||
Issuance of restricted common stock | (0.8) | (0.8) | |||
Stock compensation expense | 4.3 | 4.3 | |||
Unearned compensation | |||||
Compensation expense recognized | 0.2 | 0.2 | |||
Issuance of restricted common stock | 1.4 | 1.4 | |||
Other | 0.4 | $ 0.4 | |||
Ending balance (in shares) at Mar. 31, 2022 | 229,476,558 | ||||
Ending balance at Mar. 31, 2022 | 9,237.5 | $ 7,206.4 | 2,073.3 | (42.6) | 0.4 |
Beginning balance (in shares) at Dec. 31, 2021 | 229,299,900 | ||||
Beginning balance at Dec. 31, 2021 | 9,241.7 | $ 7,205.5 | 2,082.9 | (44) | (2.7) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 754.4 | ||||
Unearned compensation | |||||
Issuance of restricted common stock | 4.1 | ||||
Compensation expense recognized | 0.1 | ||||
Ending balance (in shares) at Sep. 30, 2022 | 229,532,136 | ||||
Ending balance at Sep. 30, 2022 | 9,615.5 | $ 7,216.6 | 2,432.2 | (39.8) | 6.5 |
Beginning balance (in shares) at Mar. 31, 2022 | 229,476,558 | ||||
Beginning balance at Mar. 31, 2022 | 9,237.5 | $ 7,206.4 | 2,073.3 | (42.6) | 0.4 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 197.6 | 194.5 | 3.1 | ||
Issuance of stock compensation and reinvested dividends, net of tax withholding (in shares) | 38,743 | ||||
Issuance of stock, net issuance costs | (0.3) | $ (0.3) | |||
Dividends declared on common stock | (131.4) | (131.4) | |||
Issuance of restricted common stock | (0.4) | (0.4) | |||
Stock compensation expense | 6.3 | 6.3 | |||
Unearned compensation | |||||
Compensation expense recognized | 0.2 | 0.2 | |||
Issuance of restricted common stock | 1.3 | 1.3 | |||
Compensation expense recognized | 0.1 | 0.1 | |||
Other | (0.1) | $ (0.1) | |||
Ending balance (in shares) at Jun. 30, 2022 | 229,515,301 | ||||
Ending balance at Jun. 30, 2022 | 9,310.8 | $ 7,212.5 | 2,136 | (41.2) | 3.5 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 431.2 | 428.2 | 3 | ||
Issuance of stock compensation and reinvested dividends, net of tax withholding (in shares) | 16,835 | ||||
Issuance of stock, net issuance costs | (0.2) | $ (0.2) | |||
Dividends declared on common stock | (131.4) | (131.4) | |||
Issuance of restricted common stock | (0.6) | (0.6) | |||
Stock compensation expense | 4 | 4 | |||
Unearned compensation | |||||
Compensation expense recognized | 0.2 | 0.2 | |||
Issuance of restricted common stock | 1.4 | 1.4 | |||
Compensation expense recognized | 0 | ||||
Other | 0.1 | $ 0.1 | |||
Ending balance (in shares) at Sep. 30, 2022 | 229,532,136 | ||||
Ending balance at Sep. 30, 2022 | 9,615.5 | $ 7,216.6 | 2,432.2 | (39.8) | 6.5 |
Beginning balance (in shares) at Dec. 31, 2022 | 229,546,105 | ||||
Beginning balance at Dec. 31, 2022 | 9,493.3 | $ 7,219.7 | 2,298.5 | (34.5) | 9.6 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 145.7 | 142.6 | 3.1 | ||
Issuance of stock compensation and reinvested dividends, net of tax withholding (in shares) | 130,594 | ||||
Issuance of stock, net issuance costs | (2.4) | $ (2.4) | |||
Dividends declared on common stock | (140.7) | (140.7) | |||
Issuance of restricted common stock | (0.4) | (0.4) | |||
Stock compensation expense | 4.7 | 4.7 | |||
Unearned compensation | |||||
Compensation expense recognized | 0.1 | 0.1 | |||
Issuance of restricted common stock | 1.3 | 1.3 | |||
Other | 0.1 | $ 0.1 | |||
Ending balance (in shares) at Mar. 31, 2023 | 229,676,699 | ||||
Ending balance at Mar. 31, 2023 | 9,501.7 | $ 7,222.2 | 2,300 | (33.2) | 12.7 |
Beginning balance (in shares) at Dec. 31, 2022 | 229,546,105 | ||||
Beginning balance at Dec. 31, 2022 | 9,493.3 | $ 7,219.7 | 2,298.5 | (34.5) | 9.6 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 682.5 | ||||
Unearned compensation | |||||
Issuance of restricted common stock | 4.1 | ||||
Compensation expense recognized | (0.1) | ||||
Ending balance (in shares) at Sep. 30, 2023 | 229,716,510 | ||||
Ending balance at Sep. 30, 2023 | 9,767.8 | $ 7,231.5 | 2,548 | (30.5) | 18.8 |
Beginning balance (in shares) at Mar. 31, 2023 | 229,676,699 | ||||
Beginning balance at Mar. 31, 2023 | 9,501.7 | $ 7,222.2 | 2,300 | (33.2) | 12.7 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 182.2 | 179.1 | 3.1 | ||
Issuance of stock compensation and reinvested dividends, net of tax withholding (in shares) | 25,010 | ||||
Issuance of stock, net issuance costs | 0 | $ 0 | |||
Dividends declared on common stock | (140.7) | (140.7) | |||
Issuance of restricted common stock | (0.6) | (0.6) | |||
Stock compensation expense | 6.6 | 6.6 | |||
Unearned compensation | |||||
Compensation expense recognized | 0.1 | 0.1 | |||
Issuance of restricted common stock | 1.3 | 1.3 | |||
Other | 0.1 | $ 0.1 | |||
Ending balance (in shares) at Jun. 30, 2023 | 229,701,709 | ||||
Ending balance at Jun. 30, 2023 | 9,550.7 | $ 7,229 | 2,337.8 | (31.9) | 15.8 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 354.6 | 351.6 | 3 | ||
Issuance of stock compensation and reinvested dividends, net of tax withholding (in shares) | 14,801 | ||||
Issuance of stock, net issuance costs | (0.1) | $ (0.1) | |||
Dividends declared on common stock | (140.6) | (140.6) | |||
Issuance of restricted common stock | (0.8) | (0.8) | |||
Stock compensation expense | 2.5 | 2.5 | |||
Unearned compensation | |||||
Issuance of restricted common stock | 1.5 | 1.5 | |||
Compensation expense recognized | (0.1) | (0.1) | |||
Other | 0.1 | $ 0.1 | |||
Ending balance (in shares) at Sep. 30, 2023 | 229,716,510 | ||||
Ending balance at Sep. 30, 2023 | $ 9,767.8 | $ 7,231.5 | $ 2,548 | $ (30.5) | $ 18.8 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares | 3 Months Ended | |||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | |
Statement of Stockholders' Equity [Abstract] | ||||||
Dividends declared on common stock (in dollars per share) | $ 0.6125 | $ 0.6125 | $ 0.6125 | $ 0.5725 | $ 0.5725 | $ 0.5725 |
Consolidated Balance Sheets - E
Consolidated Balance Sheets - Evergy Kansas Central, Inc - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 41 | $ 25.2 |
Receivables, net of allowance for credit losses of $9.9 and $16.9, respectively | 330.1 | 315.3 |
Accounts receivable pledged as collateral | 395 | 359 |
Fuel inventory and supplies | 739.9 | 672.9 |
Income taxes receivable | 14.9 | 9.3 |
Regulatory assets | 285 | 368 |
Prepaid expenses | 52 | 47.8 |
Other assets | 38.2 | 44.5 |
Total Current Assets | 1,896.1 | 1,842 |
PROPERTY, PLANT AND EQUIPMENT, NET | 23,141.4 | 22,136.5 |
OTHER ASSETS: | ||
Regulatory assets | 1,845.6 | 1,846.3 |
Nuclear decommissioning trust fund | 711.2 | 653.3 |
Other | 549.7 | 534.5 |
Total Other Assets | 5,443.1 | 5,370.7 |
TOTAL ASSETS | 30,616 | 29,489.9 |
CURRENT LIABILITIES: | ||
Current maturities of long-term debt | 889.4 | 439.1 |
Notes payable and commercial paper | 2,178.4 | 1,332.3 |
Collateralized note payable | 395 | 359 |
Accounts payable | 418 | 600.8 |
Accrued taxes | 339.9 | 163 |
Accrued interest | 122.6 | 124.3 |
Regulatory liabilities | 197.9 | 155.4 |
Asset retirement obligations | 40.9 | 40.4 |
Accrued compensation and benefits | 67.4 | 81.1 |
Other | 160.2 | 198.4 |
Total Current Liabilities | 4,809.7 | 3,493.8 |
LONG-TERM LIABILITIES: | ||
Long-term debt, net | 9,297.6 | 9,905.7 |
Deferred income taxes | 2,096.7 | 1,996.6 |
Unamortized investment tax credits | 172.7 | 174.6 |
Regulatory liabilities | 2,566.6 | 2,566.8 |
Pension and post-retirement liability | 469.8 | 458.4 |
Asset retirement obligations | 1,155.3 | 1,112.8 |
Other | 279.8 | 287.9 |
Total Long-Term Liabilities | 16,038.5 | 16,502.8 |
Commitments and Contingencies (Note 11) | ||
Evergy, Inc. Shareholders' Equity: | ||
Common stock | 7,231.5 | 7,219.7 |
Retained earnings | 2,548 | 2,298.5 |
Total Evergy, Inc. Shareholders' Equity | 9,749 | 9,483.7 |
Noncontrolling Interests | 18.8 | 9.6 |
Total Equity | 9,767.8 | 9,493.3 |
TOTAL LIABILITIES AND EQUITY | 30,616 | 29,489.9 |
Evergy Kansas Central | ||
CURRENT ASSETS: | ||
Cash and cash equivalents | 19 | 8.7 |
Receivables, net of allowance for credit losses of $9.9 and $16.9, respectively | 198.6 | 249.4 |
Accounts receivable pledged as collateral | 200 | 185 |
Fuel inventory and supplies | 395.9 | 349.5 |
Income taxes receivable | 20.2 | 0 |
Regulatory assets | 125 | 121.9 |
Prepaid expenses | 23.7 | 18.7 |
Other assets | 19.1 | 28.8 |
Total Current Assets | 1,011.2 | 969.9 |
PROPERTY, PLANT AND EQUIPMENT, NET | 11,741.5 | 11,080.8 |
OTHER ASSETS: | ||
Regulatory assets | 562.6 | 590 |
Nuclear decommissioning trust fund | 347.6 | 318.8 |
Other | 275.5 | 268.1 |
Total Other Assets | 1,185.7 | 1,176.9 |
TOTAL ASSETS | 14,073.8 | 13,368.3 |
CURRENT LIABILITIES: | ||
Current maturities of long-term debt | 0 | 50 |
Notes payable and commercial paper | 660.2 | 772.1 |
Collateralized note payable | 200 | 185 |
Accounts payable | 198 | 247.3 |
Accrued taxes | 171.2 | 125.5 |
Accrued interest | 64.1 | 72.6 |
Regulatory liabilities | 115.7 | 72.1 |
Asset retirement obligations | 21.9 | 21.3 |
Accrued compensation and benefits | 34.5 | 39.4 |
Other | 117.5 | 135 |
Total Current Liabilities | 1,612.3 | 1,749.2 |
LONG-TERM LIABILITIES: | ||
Long-term debt, net | 4,282.4 | 3,886.9 |
Deferred income taxes | 848.3 | 844.5 |
Unamortized investment tax credits | 58 | 57.3 |
Regulatory liabilities | 1,472.3 | 1,368.9 |
Pension and post-retirement liability | 248 | 244.7 |
Asset retirement obligations | 571.3 | 543.8 |
Other | 146.2 | 165.6 |
Total Long-Term Liabilities | 7,626.5 | 7,111.7 |
Commitments and Contingencies (Note 11) | ||
Evergy, Inc. Shareholders' Equity: | ||
Common stock | 2,737.6 | 2,737.6 |
Retained earnings | 2,078.6 | 1,760.2 |
Total Evergy, Inc. Shareholders' Equity | 4,816.2 | 4,497.8 |
Noncontrolling Interests | 18.8 | 9.6 |
Total Equity | 4,835 | 4,507.4 |
TOTAL LIABILITIES AND EQUITY | 14,073.8 | 13,368.3 |
Related Party [Member] | Evergy Kansas Central | ||
CURRENT ASSETS: | ||
Related party receivables | 9.7 | 7.9 |
CURRENT LIABILITIES: | ||
Accounts payable | 29.2 | 28.9 |
Variable Interest Entities | ||
CURRENT ASSETS: | ||
PROPERTY, PLANT AND EQUIPMENT, NET | 135.4 | 140.7 |
Variable Interest Entities | Evergy Kansas Central | ||
CURRENT ASSETS: | ||
PROPERTY, PLANT AND EQUIPMENT, NET | $ 135.4 | $ 140.7 |
Consolidated Balance Sheets -_2
Consolidated Balance Sheets - Evergy Kansas Central, Inc (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Allowance for credit losses | $ 21.5 | $ 31.4 |
Common stock - shares authorized (in shares) | 600,000,000 | 600,000,000 |
Common stock - shares issued (in shares) | 229,716,510 | 229,546,105 |
Evergy Kansas Central | ||
Allowance for credit losses | $ 9.9 | $ 16.9 |
Common stock - shares authorized (in shares) | 1,000 | 1,000 |
Common stock - par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock - shares issued (in shares) | 1 | 1 |
Consolidated Statements of Inco
Consolidated Statements of Income - Evergy Kansas Central, Inc - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
OPERATING REVENUES | $ 1,669.3 | $ 1,909.1 | $ 4,320.3 | $ 4,579.5 |
OPERATING EXPENSES: | ||||
Fuel and purchased power | 478.4 | 643 | 1,177.4 | 1,366.3 |
SPP network transmission costs | 75.4 | 81.6 | 232 | 241.8 |
Operating and maintenance | 253.2 | 266.2 | 697.1 | 801.2 |
Depreciation and amortization | 273.3 | 233.2 | 806.1 | 694.3 |
Taxes other than income tax | 103.1 | 100.7 | 305.9 | 302.9 |
Total Operating Expenses | 1,183.4 | 1,330.7 | 3,218.5 | 3,412.5 |
INCOME FROM OPERATIONS | 485.9 | 578.4 | 1,101.8 | 1,167 |
OTHER INCOME (EXPENSE): | ||||
Investment earnings (loss) | 6.2 | 13.1 | 22 | 2.6 |
Other income | 19.3 | 6.2 | 34.1 | 20.3 |
Other expense | (12.8) | (16.7) | (55.1) | (64.5) |
Total Other Expense, Net | 12.7 | 2.6 | 1 | (41.6) |
Interest expense | 136.8 | 102.3 | 393.6 | 293.4 |
INCOME BEFORE INCOME TAXES | 361.8 | 478.7 | 709.2 | 832 |
Income tax expense | 8.8 | 49.5 | 32 | 83.1 |
Equity in earnings of equity method investees, net of income taxes | 1.6 | 2 | 5.3 | 5.5 |
NET INCOME | 354.6 | 431.2 | 682.5 | 754.4 |
Less: Net income attributable to noncontrolling interests | 3 | 3 | 9.2 | 9.2 |
Net income attributable to Evergy, Inc. | 351.6 | 428.2 | 673.3 | 745.2 |
Evergy Kansas Central | ||||
OPERATING REVENUES | 773.3 | 1,021.4 | 2,091.5 | 2,359.3 |
OPERATING EXPENSES: | ||||
Fuel and purchased power | 212.3 | 342.1 | 470.5 | 629.2 |
SPP network transmission costs | 75.4 | 81.6 | 232 | 241.8 |
Operating and maintenance | 123.9 | 135.1 | 347.1 | 402.3 |
Depreciation and amortization | 133.2 | 121.6 | 386 | 361.9 |
Taxes other than income tax | 54.9 | 54.9 | 165.1 | 163.3 |
Total Operating Expenses | 599.7 | 735.3 | 1,600.7 | 1,798.5 |
INCOME FROM OPERATIONS | 173.6 | 286.1 | 490.8 | 560.8 |
OTHER INCOME (EXPENSE): | ||||
Investment earnings (loss) | (0.4) | (1.2) | 1.3 | (5.1) |
Other income | 18.3 | 2.2 | 28.6 | 8 |
Other expense | (10.2) | (10.5) | (28.8) | (29.8) |
Total Other Expense, Net | 7.7 | (9.5) | 1.1 | (26.9) |
Interest expense | 56.5 | 46.1 | 163.3 | 131.7 |
INCOME BEFORE INCOME TAXES | 124.8 | 230.5 | 328.6 | 402.2 |
Income tax expense | (7.9) | 15.5 | 3.6 | 23.5 |
Equity in earnings of equity method investees, net of income taxes | 0.6 | 1.1 | 2.6 | 3.1 |
NET INCOME | 133.3 | 216.1 | 327.6 | 381.8 |
Less: Net income attributable to noncontrolling interests | 3 | 3 | 9.2 | 9.2 |
Net income attributable to Evergy, Inc. | $ 130.3 | $ 213.1 | $ 318.4 | $ 372.6 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows - Evergy Kansas Central, Inc - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES: | ||
Net income | $ 682.5 | $ 754.4 |
Adjustments to reconcile income to net cash from operating activities: | ||
Depreciation and amortization | 806.1 | 694.3 |
Amortization of nuclear fuel | 46.8 | 47.7 |
Amortization of deferred refueling outage | 13.7 | 18.8 |
Amortization of corporate-owned life insurance | 19.4 | 18.3 |
Non-cash compensation | 14 | 15.2 |
Net deferred income taxes and credits | 18.6 | 54.6 |
Allowance for equity funds used during construction | (6.6) | (18.3) |
Payments for asset retirement obligations | (9.4) | (9.4) |
Equity in earnings of equity method investees, net of income taxes | (5.3) | (5.5) |
Income from corporate-owned life insurance | (26.2) | (1.2) |
Other | 1 | 0.9 |
Changes in working capital items: | ||
Accounts receivable | (7.2) | (127.8) |
Accounts receivable pledged as collateral | (36) | (76) |
Fuel inventory and supplies | (66.3) | (48) |
Prepaid expenses and other current assets | 105.9 | 16.1 |
Accounts payable | (194.2) | (142.6) |
Accrued taxes | 171.3 | 204.8 |
Other current liabilities | (68.2) | (43.2) |
Changes in other assets | 16.5 | 92.8 |
Changes in other liabilities | 75.3 | 31.8 |
Cash Flows from Operating Activities | 1,551.7 | 1,477.7 |
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: | ||
Additions to property, plant and equipment | (1,657.9) | (1,614.6) |
Acquisition of Persimmon Creek, net of cash acquired | (217.9) | 0 |
Purchase of securities - trusts | (30.7) | (28.5) |
Sale of securities - trusts | 22.8 | 22.3 |
Investment in corporate-owned life insurance | (15.4) | (15.5) |
Proceeds from investment in corporate-owned life insurance | 118.2 | 3.4 |
Other investing activities | (11) | 7.8 |
Cash Flows used in Investing Activities | (1,791.9) | (1,625.1) |
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: | ||
Short-term debt, net | 344.7 | 62.9 |
Collateralized short-term debt, net | 36 | 76 |
Proceeds from long-term debt | 690.3 | 246.9 |
Retirements of long-term debt | (350) | (387.5) |
Borrowings against cash surrender value of corporate-owned life insurance | 52.1 | 52.4 |
Repayment of borrowings against cash surrender value of corporate-owned life insurance | (89.8) | (1.2) |
Cash dividends paid | (422) | (394.1) |
Other financing activities | (5.3) | (9.5) |
Cash Flows from Financing Activities | 256 | 145.9 |
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 15.8 | (1.5) |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||
Beginning of period | 25.2 | 26.2 |
End of period | 41 | 24.7 |
Evergy Kansas Central | ||
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES: | ||
Net income | 327.6 | 381.8 |
Adjustments to reconcile income to net cash from operating activities: | ||
Depreciation and amortization | 386 | 361.9 |
Amortization of nuclear fuel | 23.2 | 23.7 |
Amortization of deferred refueling outage | 6.8 | 9.4 |
Amortization of corporate-owned life insurance | 19.4 | 18.3 |
Net deferred income taxes and credits | (18.8) | (37.9) |
Allowance for equity funds used during construction | (2.5) | (6.9) |
Payments for asset retirement obligations | (6.3) | (4.9) |
Equity in earnings of equity method investees, net of income taxes | (2.6) | (3.1) |
Income from corporate-owned life insurance | (26.2) | (1.2) |
Other | (4.1) | (4.1) |
Changes in working capital items: | ||
Accounts receivable | 49.6 | (61.8) |
Accounts receivable pledged as collateral | (15) | (47) |
Fuel inventory and supplies | (45.7) | (34.7) |
Prepaid expenses and other current assets | 41.6 | 75.5 |
Accounts payable | (52.2) | 0.9 |
Accrued taxes | 25.5 | 86.1 |
Other current liabilities | (30.6) | (27.3) |
Changes in other assets | 3.7 | 15.1 |
Changes in other liabilities | 100.9 | 14.8 |
Cash Flows from Operating Activities | 780.3 | 758.6 |
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: | ||
Additions to property, plant and equipment | (855.8) | (682.3) |
Acquisition of Persimmon Creek, net of cash acquired | (217.9) | 0 |
Purchase of securities - trusts | (9.9) | (9.2) |
Sale of securities - trusts | 5.7 | 10.1 |
Investment in corporate-owned life insurance | (15.5) | (15.5) |
Proceeds from investment in corporate-owned life insurance | 117 | 3.4 |
Other investing activities | 1.9 | 2 |
Cash Flows used in Investing Activities | (974.5) | (691.5) |
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: | ||
Short-term debt, net | (112.6) | 232.2 |
Collateralized short-term debt, net | 15 | 47 |
Proceeds from long-term debt | 393.3 | 0 |
Retirements of long-term debt | (50) | 0 |
Borrowings against cash surrender value of corporate-owned life insurance | 49 | 50.5 |
Repayment of borrowings against cash surrender value of corporate-owned life insurance | (88.6) | (1.2) |
Cash dividends paid | 0 | (385) |
Other financing activities | (1.6) | (3.4) |
Cash Flows from Financing Activities | 204.5 | (59.9) |
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 10.3 | 7.2 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||
Beginning of period | 8.7 | 3.1 |
End of period | $ 19 | $ 10.3 |
Consolidated Statements of Ch_3
Consolidated Statements of Changes in Equity - Evergy Kansas Central, Inc - USD ($) $ in Millions | Total | Common Stock | Retained earnings | Non-controlling interests | Evergy Kansas Central | Evergy Kansas Central Common Stock | Evergy Kansas Central Retained earnings | Evergy Kansas Central Non-controlling interests |
Beginning balance (in shares) at Dec. 31, 2021 | 229,299,900 | 1 | ||||||
Beginning balance at Dec. 31, 2021 | $ 9,241.7 | $ 7,205.5 | $ 2,082.9 | $ (2.7) | $ 4,541.5 | $ 2,737.6 | $ 1,806.6 | $ (2.7) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 125.6 | 122.5 | 3.1 | 75.1 | 72 | 3.1 | ||
Dividends declared on common stock | (131.3) | (131.3) | (25) | (25) | ||||
Ending balance (in shares) at Mar. 31, 2022 | 229,476,558 | 1 | ||||||
Ending balance at Mar. 31, 2022 | 9,237.5 | $ 7,206.4 | 2,073.3 | 0.4 | 4,591.6 | $ 2,737.6 | 1,853.6 | 0.4 |
Beginning balance (in shares) at Dec. 31, 2021 | 229,299,900 | 1 | ||||||
Beginning balance at Dec. 31, 2021 | 9,241.7 | $ 7,205.5 | 2,082.9 | (2.7) | 4,541.5 | $ 2,737.6 | 1,806.6 | (2.7) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 754.4 | 381.8 | ||||||
Ending balance (in shares) at Sep. 30, 2022 | 229,532,136 | 1 | ||||||
Ending balance at Sep. 30, 2022 | 9,615.5 | $ 7,216.6 | 2,432.2 | 6.5 | 4,538.3 | $ 2,737.6 | 1,794.2 | 6.5 |
Beginning balance (in shares) at Mar. 31, 2022 | 229,476,558 | 1 | ||||||
Beginning balance at Mar. 31, 2022 | 9,237.5 | $ 7,206.4 | 2,073.3 | 0.4 | 4,591.6 | $ 2,737.6 | 1,853.6 | 0.4 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 197.6 | 194.5 | 3.1 | 90.6 | 87.5 | 3.1 | ||
Dividends declared on common stock | (131.4) | (131.4) | (200) | (200) | ||||
Ending balance (in shares) at Jun. 30, 2022 | 229,515,301 | 1 | ||||||
Ending balance at Jun. 30, 2022 | 9,310.8 | $ 7,212.5 | 2,136 | 3.5 | 4,482.2 | $ 2,737.6 | 1,741.1 | 3.5 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 431.2 | 428.2 | 3 | 216.1 | 213.1 | 3 | ||
Dividends declared on common stock | (131.4) | (131.4) | (160) | (160) | ||||
Ending balance (in shares) at Sep. 30, 2022 | 229,532,136 | 1 | ||||||
Ending balance at Sep. 30, 2022 | 9,615.5 | $ 7,216.6 | 2,432.2 | 6.5 | 4,538.3 | $ 2,737.6 | 1,794.2 | 6.5 |
Beginning balance (in shares) at Dec. 31, 2022 | 229,546,105 | 1 | ||||||
Beginning balance at Dec. 31, 2022 | 9,493.3 | $ 7,219.7 | 2,298.5 | 9.6 | 4,507.4 | $ 2,737.6 | 1,760.2 | 9.6 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 145.7 | 142.6 | 3.1 | 106.4 | 103.3 | 3.1 | ||
Dividends declared on common stock | (140.7) | (140.7) | ||||||
Ending balance (in shares) at Mar. 31, 2023 | 229,676,699 | 1 | ||||||
Ending balance at Mar. 31, 2023 | 9,501.7 | $ 7,222.2 | 2,300 | 12.7 | 4,613.8 | $ 2,737.6 | 1,863.5 | 12.7 |
Beginning balance (in shares) at Dec. 31, 2022 | 229,546,105 | 1 | ||||||
Beginning balance at Dec. 31, 2022 | 9,493.3 | $ 7,219.7 | 2,298.5 | 9.6 | 4,507.4 | $ 2,737.6 | 1,760.2 | 9.6 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 682.5 | 327.6 | ||||||
Ending balance (in shares) at Sep. 30, 2023 | 229,716,510 | 1 | ||||||
Ending balance at Sep. 30, 2023 | 9,767.8 | $ 7,231.5 | 2,548 | 18.8 | 4,835 | $ 2,737.6 | 2,078.6 | 18.8 |
Beginning balance (in shares) at Mar. 31, 2023 | 229,676,699 | 1 | ||||||
Beginning balance at Mar. 31, 2023 | 9,501.7 | $ 7,222.2 | 2,300 | 12.7 | 4,613.8 | $ 2,737.6 | 1,863.5 | 12.7 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 182.2 | 179.1 | 3.1 | 87.9 | 84.8 | 3.1 | ||
Dividends declared on common stock | (140.7) | (140.7) | ||||||
Ending balance (in shares) at Jun. 30, 2023 | 229,701,709 | 1 | ||||||
Ending balance at Jun. 30, 2023 | 9,550.7 | $ 7,229 | 2,337.8 | 15.8 | 4,701.7 | $ 2,737.6 | 1,948.3 | 15.8 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 354.6 | 351.6 | 3 | 133.3 | 130.3 | 3 | ||
Dividends declared on common stock | (140.6) | (140.6) | ||||||
Ending balance (in shares) at Sep. 30, 2023 | 229,716,510 | 1 | ||||||
Ending balance at Sep. 30, 2023 | $ 9,767.8 | $ 7,231.5 | $ 2,548 | $ 18.8 | $ 4,835 | $ 2,737.6 | $ 2,078.6 | $ 18.8 |
Consolidated Balance Sheets -_3
Consolidated Balance Sheets - Evergy Metro, Inc - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 41 | $ 25.2 |
Receivables, net of allowance for credit losses of $7.2 and $9.3, respectively | 330.1 | 315.3 |
Accounts receivable pledged as collateral | 395 | 359 |
Fuel inventory and supplies | 739.9 | 672.9 |
Income taxes receivable | 14.9 | 9.3 |
Regulatory assets | 285 | 368 |
Other assets | 38.2 | 44.5 |
Total Current Assets | 1,896.1 | 1,842 |
PROPERTY, PLANT AND EQUIPMENT, NET | 23,141.4 | 22,136.5 |
OTHER ASSETS: | ||
Regulatory assets | 1,845.6 | 1,846.3 |
Nuclear decommissioning trust fund | 711.2 | 653.3 |
Other | 549.7 | 534.5 |
Total Other Assets | 5,443.1 | 5,370.7 |
TOTAL ASSETS | 30,616 | 29,489.9 |
CURRENT LIABILITIES: | ||
Current maturities of long-term debt | 889.4 | 439.1 |
Notes payable and commercial paper | 2,178.4 | 1,332.3 |
Collateralized note payable | 395 | 359 |
Accounts payable | 418 | 600.8 |
Accrued taxes | 339.9 | 163 |
Accrued interest | 122.6 | 124.3 |
Regulatory liabilities | 197.9 | 155.4 |
Asset retirement obligations | 40.9 | 40.4 |
Accrued compensation and benefits | 67.4 | 81.1 |
Other | 160.2 | 198.4 |
Total Current Liabilities | 4,809.7 | 3,493.8 |
LONG-TERM LIABILITIES: | ||
Long-term debt, net | 9,297.6 | 9,905.7 |
Deferred income taxes | 2,096.7 | 1,996.6 |
Unamortized investment tax credits | 172.7 | 174.6 |
Regulatory liabilities | 2,566.6 | 2,566.8 |
Pension and post-retirement liability | 469.8 | 458.4 |
Asset retirement obligations | 1,155.3 | 1,112.8 |
Other | 279.8 | 287.9 |
Total Long-Term Liabilities | 16,038.5 | 16,502.8 |
Commitments and Contingencies (Note 11) | ||
EQUITY: | ||
Common stock | 7,231.5 | 7,219.7 |
Retained earnings | 2,548 | 2,298.5 |
Accumulated other comprehensive loss | (30.5) | (34.5) |
Total Evergy, Inc. Shareholders' Equity | 9,749 | 9,483.7 |
TOTAL LIABILITIES AND EQUITY | 30,616 | 29,489.9 |
Evergy Metro | ||
CURRENT ASSETS: | ||
Cash and cash equivalents | 7.1 | 3.1 |
Receivables, net of allowance for credit losses of $7.2 and $9.3, respectively | 89.6 | 37.8 |
Accounts receivable pledged as collateral | 130 | 124 |
Fuel inventory and supplies | 246.4 | 240.6 |
Income taxes receivable | 0 | 0.2 |
Regulatory assets | 38.1 | 42.3 |
Prepaid expenses | 20.3 | 22.4 |
Other assets | 14 | 11 |
Total Current Assets | 668.4 | 651.8 |
PROPERTY, PLANT AND EQUIPMENT, NET | 8,019.9 | 7,844.2 |
OTHER ASSETS: | ||
Regulatory assets | 363.1 | 331.5 |
Nuclear decommissioning trust fund | 363.6 | 334.5 |
Other | 80 | 87.2 |
Total Other Assets | 806.7 | 753.2 |
TOTAL ASSETS | 9,495 | 9,249.2 |
CURRENT LIABILITIES: | ||
Current maturities of long-term debt | 79.5 | 379.5 |
Notes payable and commercial paper | 331.8 | 111 |
Collateralized note payable | 130 | 124 |
Accounts payable | 180.1 | 252.3 |
Accrued taxes | 127.1 | 40.5 |
Accrued interest | 43.4 | 27.9 |
Regulatory liabilities | 46.2 | 55.3 |
Asset retirement obligations | 16.3 | 17.1 |
Accrued compensation and benefits | 32.9 | 41.7 |
Other | 33.1 | 49.2 |
Total Current Liabilities | 1,020.6 | 1,099.4 |
LONG-TERM LIABILITIES: | ||
Long-term debt, net | 2,845.7 | 2,547.1 |
Deferred income taxes | 794.2 | 720.9 |
Unamortized investment tax credits | 112.2 | 114.7 |
Regulatory liabilities | 831 | 872.8 |
Pension and post-retirement liability | 204 | 196.6 |
Asset retirement obligations | 441.9 | 427.1 |
Other | 82.6 | 84.3 |
Total Long-Term Liabilities | 5,311.6 | 4,963.5 |
Commitments and Contingencies (Note 11) | ||
EQUITY: | ||
Common stock | 1,563.1 | 1,563.1 |
Retained earnings | 1,595.9 | 1,619.2 |
Accumulated other comprehensive loss | 3.8 | 4 |
Total Evergy, Inc. Shareholders' Equity | 3,162.8 | 3,186.3 |
TOTAL LIABILITIES AND EQUITY | 9,495 | 9,249.2 |
Related Party [Member] | Evergy Metro | ||
CURRENT ASSETS: | ||
Related party receivables | 122.9 | 170.4 |
CURRENT LIABILITIES: | ||
Accounts payable | $ 0.2 | $ 0.9 |
Consolidated Balance Sheets -_4
Consolidated Balance Sheets - Evergy Metro, Inc (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Allowance for credit losses | $ 21.5 | $ 31.4 |
Common stock - shares authorized (in shares) | 600,000,000 | 600,000,000 |
Common stock - shares issued (in shares) | 229,716,510 | 229,546,105 |
Evergy Metro | ||
Allowance for credit losses | $ 7.2 | $ 9.3 |
Common stock - shares authorized (in shares) | 1,000 | 1,000 |
Common stock - shares issued (in shares) | 1 | 1 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income - Evergy Metro, Inc - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
OPERATING REVENUES | $ 1,669.3 | $ 1,909.1 | $ 4,320.3 | $ 4,579.5 |
OPERATING EXPENSES: | ||||
Fuel and purchased power | 478.4 | 643 | 1,177.4 | 1,366.3 |
Operating and maintenance | 253.2 | 266.2 | 697.1 | 801.2 |
Depreciation and amortization | 273.3 | 233.2 | 806.1 | 694.3 |
Taxes other than income tax | 103.1 | 100.7 | 305.9 | 302.9 |
Total Operating Expenses | 1,183.4 | 1,330.7 | 3,218.5 | 3,412.5 |
INCOME FROM OPERATIONS | 485.9 | 578.4 | 1,101.8 | 1,167 |
OTHER INCOME (EXPENSE): | ||||
Investment earnings | 6.2 | 13.1 | 22 | 2.6 |
Other income | 19.3 | 6.2 | 34.1 | 20.3 |
Other expense | (12.8) | (16.7) | (55.1) | (64.5) |
Total Other Expense, Net | 12.7 | 2.6 | 1 | (41.6) |
Interest expense | 136.8 | 102.3 | 393.6 | 293.4 |
INCOME BEFORE INCOME TAXES | 361.8 | 478.7 | 709.2 | 832 |
Income tax expense | 8.8 | 49.5 | 32 | 83.1 |
Net income attributable to Evergy, Inc. | 351.6 | 428.2 | 673.3 | 745.2 |
Derivative hedging activity | ||||
Reclassification to expenses, net of tax | 1.5 | 1.4 | 4.1 | 4.1 |
Derivative hedging activity, net of tax | 1.5 | 1.4 | 4.1 | 4.1 |
Total other comprehensive income | 1.4 | 1.4 | 4 | 4.2 |
COMPREHENSIVE INCOME | 353 | 429.6 | 677.3 | 749.4 |
Evergy Metro | ||||
OPERATING REVENUES | 608.2 | 641.8 | 1,499.9 | 1,564.4 |
OPERATING EXPENSES: | ||||
Fuel and purchased power | 160.4 | 195.8 | 417.8 | 487.2 |
Operating and maintenance | 81.5 | 76 | 213.6 | 240.8 |
Depreciation and amortization | 104.1 | 84.8 | 311.9 | 252.2 |
Taxes other than income tax | 34.7 | 32.9 | 100.4 | 100 |
Total Operating Expenses | 380.7 | 389.5 | 1,043.7 | 1,080.2 |
INCOME FROM OPERATIONS | 227.5 | 252.3 | 456.2 | 484.2 |
OTHER INCOME (EXPENSE): | ||||
Investment earnings | 0.9 | 0.4 | 2.6 | 0.6 |
Other income | 0.9 | 3.9 | 5.1 | 11.2 |
Other expense | (0.5) | (2.5) | (19.3) | (23.1) |
Total Other Expense, Net | 1.3 | 1.8 | (11.6) | (11.3) |
Interest expense | 35 | 27.7 | 100.6 | 81.5 |
INCOME BEFORE INCOME TAXES | 193.8 | 226.4 | 344 | 391.4 |
Income tax expense | 23.7 | 33.2 | 42.3 | 55.2 |
Net income attributable to Evergy, Inc. | 170.1 | 193.2 | 301.7 | 336.2 |
Derivative hedging activity | ||||
Reclassification to expenses, net of tax | (0.1) | (0.1) | (0.2) | (0.2) |
Derivative hedging activity, net of tax | (0.1) | (0.1) | (0.2) | (0.2) |
Total other comprehensive income | (0.1) | (0.1) | (0.2) | (0.2) |
COMPREHENSIVE INCOME | $ 170 | $ 193.1 | $ 301.5 | $ 336 |
Consolidated Statements of Ca_3
Consolidated Statements of Cash Flows - Evergy Metro, Inc - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES: | ||
Net income | $ 682.5 | $ 754.4 |
Adjustments to reconcile income to net cash from operating activities: | ||
Depreciation and amortization | 806.1 | 694.3 |
Amortization of nuclear fuel | 46.8 | 47.7 |
Amortization of deferred refueling outage | 13.7 | 18.8 |
Net deferred income taxes and credits | 18.6 | 54.6 |
Allowance for equity funds used during construction | (6.6) | (18.3) |
Payments for asset retirement obligations | (9.4) | (9.4) |
Other | 1 | 0.9 |
Changes in working capital items: | ||
Accounts receivable | (7.2) | (127.8) |
Accounts receivable pledged as collateral | (36) | (76) |
Fuel inventory and supplies | (66.3) | (48) |
Prepaid expenses and other current assets | 105.9 | 16.1 |
Accounts payable | (194.2) | (142.6) |
Accrued taxes | 171.3 | 204.8 |
Other current liabilities | (68.2) | (43.2) |
Changes in other assets | 16.5 | 92.8 |
Changes in other liabilities | 75.3 | 31.8 |
Cash Flows from Operating Activities | 1,551.7 | 1,477.7 |
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: | ||
Additions to property, plant and equipment | (1,657.9) | (1,614.6) |
Purchase of securities - trusts | (30.7) | (28.5) |
Sale of securities - trusts | 22.8 | 22.3 |
Other investing activities | (11) | 7.8 |
Cash Flows used in Investing Activities | (1,791.9) | (1,625.1) |
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: | ||
Short-term debt, net | 344.7 | 62.9 |
Collateralized short-term debt, net | 36 | 76 |
Proceeds from long-term debt | 690.3 | 246.9 |
Retirements of long-term debt | (350) | (387.5) |
Cash dividends paid | (422) | (394.1) |
Other financing activities | (5.3) | (9.5) |
Cash Flows from Financing Activities | 256 | 145.9 |
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 15.8 | (1.5) |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||
Beginning of period | 25.2 | 26.2 |
End of period | 41 | 24.7 |
Evergy Metro | ||
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES: | ||
Net income | 301.7 | 336.2 |
Adjustments to reconcile income to net cash from operating activities: | ||
Depreciation and amortization | 311.9 | 252.2 |
Amortization of nuclear fuel | 23.6 | 23.9 |
Amortization of deferred refueling outage | 6.8 | 9.4 |
Net deferred income taxes and credits | 35.1 | 72 |
Allowance for equity funds used during construction | (4.1) | (10.6) |
Payments for asset retirement obligations | (2.1) | (3.6) |
Other | (0.3) | (0.3) |
Changes in working capital items: | ||
Accounts receivable | (28.1) | (41.9) |
Accounts receivable pledged as collateral | (6) | (14) |
Fuel inventory and supplies | (5.8) | (8.2) |
Prepaid expenses and other current assets | 0.5 | 17 |
Accounts payable | (84) | (93.3) |
Accrued taxes | 86.8 | 60.4 |
Other current liabilities | (27.5) | (11.7) |
Changes in other assets | 13.3 | 41 |
Changes in other liabilities | (4.9) | 11.1 |
Cash Flows from Operating Activities | 616.9 | 639.6 |
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: | ||
Additions to property, plant and equipment | (542.1) | (574.5) |
Purchase of securities - trusts | (20.8) | (19.4) |
Sale of securities - trusts | 17.1 | 12.2 |
Net money pool lending | 31 | 63.5 |
Other investing activities | 1.8 | 4.7 |
Cash Flows used in Investing Activities | (513) | (513.5) |
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: | ||
Short-term debt, net | 220.8 | 0 |
Collateralized short-term debt, net | 6 | 14 |
Proceeds from long-term debt | 297 | 0 |
Retirements of long-term debt | (300) | 0 |
Cash dividends paid | (325) | (140) |
Other financing activities | 1.3 | 1.2 |
Cash Flows from Financing Activities | (99.9) | (124.8) |
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 4 | 1.3 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||
Beginning of period | 3.1 | 2.1 |
End of period | $ 7.1 | $ 3.4 |
Consolidated Statements of Ch_4
Consolidated Statements of Changes in Equity - Evergy Metro, Inc - USD ($) $ in Millions | Total | Common Stock | Retained earnings | Evergy Metro | Evergy Metro Common Stock | Evergy Metro Retained earnings | Evergy Metro AOCI - Net gains (losses) on cash flow hedges |
Beginning balance (in shares) at Dec. 31, 2021 | 229,299,900 | 1 | |||||
Beginning balance at Dec. 31, 2021 | $ 9,241.7 | $ 7,205.5 | $ 2,082.9 | $ 3,021.2 | $ 1,563.1 | $ 1,453.8 | $ 4.3 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 125.6 | 122.5 | 54.6 | 54.6 | |||
Dividends declared on common stock | (131.3) | (131.3) | |||||
Derivative hedging activity, net of tax | 1.4 | ||||||
Ending balance (in shares) at Mar. 31, 2022 | 229,476,558 | 1 | |||||
Ending balance at Mar. 31, 2022 | 9,237.5 | $ 7,206.4 | 2,073.3 | 3,075.8 | $ 1,563.1 | 1,508.4 | 4.3 |
Beginning balance (in shares) at Dec. 31, 2021 | 229,299,900 | 1 | |||||
Beginning balance at Dec. 31, 2021 | 9,241.7 | $ 7,205.5 | 2,082.9 | 3,021.2 | $ 1,563.1 | 1,453.8 | 4.3 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 754.4 | 336.2 | |||||
Derivative hedging activity, net of tax | 4.1 | (0.2) | |||||
Ending balance (in shares) at Sep. 30, 2022 | 229,532,136 | 1 | |||||
Ending balance at Sep. 30, 2022 | 9,615.5 | $ 7,216.6 | 2,432.2 | 3,217.2 | $ 1,563.1 | 1,650 | 4.1 |
Beginning balance (in shares) at Mar. 31, 2022 | 229,476,558 | 1 | |||||
Beginning balance at Mar. 31, 2022 | 9,237.5 | $ 7,206.4 | 2,073.3 | 3,075.8 | $ 1,563.1 | 1,508.4 | 4.3 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 197.6 | 194.5 | 88.4 | 88.4 | |||
Dividends declared on common stock | (131.4) | (131.4) | |||||
Derivative hedging activity, net of tax | 1.3 | (0.1) | (0.1) | ||||
Ending balance (in shares) at Jun. 30, 2022 | 229,515,301 | 1 | |||||
Ending balance at Jun. 30, 2022 | 9,310.8 | $ 7,212.5 | 2,136 | 3,164.1 | $ 1,563.1 | 1,596.8 | 4.2 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 431.2 | 428.2 | 193.2 | 193.2 | |||
Dividends declared on common stock | (131.4) | (131.4) | (140) | (140) | |||
Derivative hedging activity, net of tax | 1.4 | (0.1) | (0.1) | ||||
Ending balance (in shares) at Sep. 30, 2022 | 229,532,136 | 1 | |||||
Ending balance at Sep. 30, 2022 | 9,615.5 | $ 7,216.6 | 2,432.2 | 3,217.2 | $ 1,563.1 | 1,650 | 4.1 |
Beginning balance (in shares) at Dec. 31, 2022 | 229,546,105 | 1 | |||||
Beginning balance at Dec. 31, 2022 | 9,493.3 | $ 7,219.7 | 2,298.5 | 3,186.3 | $ 1,563.1 | 1,619.2 | 4 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 145.7 | 142.6 | 46.8 | 46.8 | |||
Dividends declared on common stock | (140.7) | (140.7) | |||||
Derivative hedging activity, net of tax | 1.3 | (0.1) | (0.1) | ||||
Ending balance (in shares) at Mar. 31, 2023 | 229,676,699 | 1 | |||||
Ending balance at Mar. 31, 2023 | 9,501.7 | $ 7,222.2 | 2,300 | 3,233 | $ 1,563.1 | 1,666 | 3.9 |
Beginning balance (in shares) at Dec. 31, 2022 | 229,546,105 | 1 | |||||
Beginning balance at Dec. 31, 2022 | 9,493.3 | $ 7,219.7 | 2,298.5 | 3,186.3 | $ 1,563.1 | 1,619.2 | 4 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 682.5 | 301.7 | |||||
Derivative hedging activity, net of tax | 4.1 | (0.2) | |||||
Ending balance (in shares) at Sep. 30, 2023 | 229,716,510 | 1 | |||||
Ending balance at Sep. 30, 2023 | 9,767.8 | $ 7,231.5 | 2,548 | 3,162.8 | $ 1,563.1 | 1,595.9 | 3.8 |
Beginning balance (in shares) at Mar. 31, 2023 | 229,676,699 | 1 | |||||
Beginning balance at Mar. 31, 2023 | 9,501.7 | $ 7,222.2 | 2,300 | 3,233 | $ 1,563.1 | 1,666 | 3.9 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 182.2 | 179.1 | 84.8 | 84.8 | |||
Dividends declared on common stock | (140.7) | (140.7) | (150) | (150) | |||
Derivative hedging activity, net of tax | 1.3 | ||||||
Ending balance (in shares) at Jun. 30, 2023 | 229,701,709 | 1 | |||||
Ending balance at Jun. 30, 2023 | 9,550.7 | $ 7,229 | 2,337.8 | 3,167.8 | $ 1,563.1 | 1,600.8 | 3.9 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 354.6 | 351.6 | 170.1 | 170.1 | |||
Dividends declared on common stock | (140.6) | (140.6) | (175) | (175) | |||
Derivative hedging activity, net of tax | 1.5 | (0.1) | (0.1) | ||||
Ending balance (in shares) at Sep. 30, 2023 | 229,716,510 | 1 | |||||
Ending balance at Sep. 30, 2023 | $ 9,767.8 | $ 7,231.5 | $ 2,548 | $ 3,162.8 | $ 1,563.1 | $ 1,595.9 | $ 3.8 |
ORGANIZATION AND BASIS OF PRESE
ORGANIZATION AND BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND BASIS OF PRESENTATION | ORGANIZATION AND BASIS OF PRESENTATION Organization Evergy is a public utility holding company incorporated in 2017 and headquartered in Kansas City, Missouri. Evergy operates primarily through the following wholly-owned direct subsidiaries listed below. • Evergy Kansas Central, Inc. (Evergy Kansas Central) is an integrated, regulated electric utility that provides electricity to customers in the state of Kansas. Evergy Kansas Central has one active wholly-owned subsidiary with significant operations, Evergy Kansas South, Inc. (Evergy Kansas South). • Evergy Metro, Inc. (Evergy Metro) is an integrated, regulated electric utility that provides electricity to customers in the states of Missouri and Kansas. • Evergy Missouri West, Inc. (Evergy Missouri West) is an integrated, regulated electric utility that provides electricity to customers in the state of Missouri. • Evergy Transmission Company, LLC (Evergy Transmission Company) owns 13.5% of Transource Energy, LLC (Transource) with the remaining 86.5% owned by AEP Transmission Holding Company, LLC, a subsidiary of American Electric Power Company, Inc. (AEP). Transource is focused on the development of competitive electric transmission projects. Evergy Transmission Company accounts for its investment in Transource under the equity method. Evergy Kansas Central also owns a 50% interest in Prairie Wind Transmission, LLC (Prairie Wind), which is a joint venture between Evergy Kansas Central and subsidiaries of AEP and Berkshire Hathaway Energy Company. Prairie Wind owns a 108-mile, 345 kV double-circuit transmission line that provides transmission service in the Southwest Power Pool, Inc. (SPP). Evergy Kansas Central accounts for its investment in Prairie Wind under the equity method. Evergy Kansas Central, Evergy Kansas South, Evergy Metro and Evergy Missouri West conduct business in their respective service territories using the name Evergy. Collectively, the Evergy Companies have approximately 15,600 MWs of owned generating capacity and renewable power purchase agreements and engage in the generation, transmission, distribution and sale of electricity to approximately 1.7 million customers in the states of Kansas and Missouri. Basis of Presentation These unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, these unaudited consolidated financial statements do not include all of the information and notes required by GAAP for annual financial statements and should be read in conjunction with the consolidated financial statements in the Evergy Companies' combined 2022 Form 10-K. These unaudited consolidated financial statements, in the opinion of management, reflect all normal recurring adjustments necessary to fairly present the unaudited consolidated financial statements for each of the Evergy Companies for these interim periods. In preparing financial statements that conform to GAAP, management must make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses, and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. Principles of Consolidation Each of Evergy's, Evergy Kansas Central's and Evergy Metro's unaudited consolidated financial statements includes the accounts of their subsidiaries and the variable interest entity (VIE) of which Evergy and Evergy Kansas Central are the primary beneficiary. Undivided interests in jointly-owned generation facilities are included on a proportionate basis. Intercompany transactions have been eliminated. The Evergy Companies assess financial performance and allocate resources on a consolidated basis (i.e., operate in one segment). Fuel Inventory and Supplies The Evergy Companies record fuel inventory and supplies at average cost. The following table separately states the balances for fuel inventory and supplies. September 30 December 31 Evergy (millions) Fuel inventory $ 237.4 $ 180.7 Supplies 502.5 492.2 Fuel inventory and supplies $ 739.9 $ 672.9 Evergy Kansas Central Fuel inventory $ 134.7 $ 97.2 Supplies 261.2 252.3 Fuel inventory and supplies $ 395.9 $ 349.5 Evergy Metro Fuel inventory $ 68.6 $ 59.0 Supplies 177.8 181.6 Fuel inventory and supplies $ 246.4 $ 240.6 Property, Plant and Equipment The following tables summarize the property, plant and equipment of Evergy, Evergy Kansas Central and Evergy Metro. September 30, 2023 Evergy Evergy Kansas Central Evergy Metro (millions) Electric plant in service $ 33,693.3 $ 16,236.7 $ 12,879.4 Electric plant acquisition adjustment 724.9 724.9 — Accumulated depreciation (12,856.9) (6,157.1) (5,325.7) Plant in service, net 21,561.3 10,804.5 7,553.7 Construction work in progress 1,403.6 848.9 377.8 Nuclear fuel, net 175.7 87.3 88.4 Plant to be retired, net (a) 0.8 0.8 — Property, plant and equipment, net $ 23,141.4 $ 11,741.5 $ 8,019.9 December 31, 2022 Evergy Evergy Kansas Central Evergy Metro (millions) Electric plant in service $ 32,129.3 $ 15,376.9 $ 12,343.3 Electric plant acquisition adjustment 724.3 724.3 — Accumulated depreciation (12,304.9) (5,922.9) (5,065.3) Plant in service, net 20,548.7 10,178.3 7,278.0 Construction work in progress 1,421.2 819.5 482.6 Nuclear fuel, net 165.8 82.2 83.6 Plant to be retired, net (a) 0.8 0.8 — Property, plant and equipment, net $ 22,136.5 $ 11,080.8 $ 7,844.2 (a) As of September 30, 2023 and December 31, 2022, represents the planned retirement of Evergy Kansas Central analog meters prior to the end of their remaining useful lives. Other Income (Expense), Net For the three months ended and year to date September 30, 2022, Evergy's investment earnings (loss) included a pre-tax loss of $2.1 million and $16.3 million, respectively, related to Evergy's equity investment in an early-stage energy solutions company. The table below shows the detail of other expense for each of the Evergy Companies. Three Months Ended Year to Date 2023 2022 2023 2022 Evergy (millions) Non-service cost component of net benefit cost $ (6.4) $ (10.2) $ (37.2) $ (46.5) Other (6.4) (6.5) (17.9) (18.0) Other expense $ (12.8) $ (16.7) $ (55.1) $ (64.5) Evergy Kansas Central Non-service cost component of net benefit cost $ (4.5) $ (4.2) $ (12.7) $ (13.6) Other (5.7) (6.3) (16.1) (16.2) Other expense $ (10.2) $ (10.5) $ (28.8) $ (29.8) Evergy Metro Non-service cost component of net benefit cost $ (0.1) $ (2.2) $ (18.0) $ (21.8) Other (0.4) (0.3) (1.3) (1.3) Other expense $ (0.5) $ (2.5) $ (19.3) $ (23.1) Earnings Per Share To compute basic earnings per share (EPS), Evergy divides net income attributable to Evergy, Inc. by the weighted average number of common shares outstanding. Diluted EPS includes the effect of issuable common shares resulting from restricted share units (RSUs), restricted stock and a warrant. Evergy computes the dilutive effects of potential issuances of common shares using the treasury stock method or the contingently issuable share method, as applicable. The following table reconciles Evergy's basic and diluted EPS. Three Months Ended Year to Date 2023 2022 2023 2022 Income (millions, except per share amounts) Net income $ 354.6 $ 431.2 $ 682.5 $ 754.4 Less: net income attributable to noncontrolling interests 3.0 3.0 9.2 9.2 Net income attributable to Evergy, Inc. $ 351.6 $ 428.2 $ 673.3 $ 745.2 Common Shares Outstanding Weighted average number of common shares outstanding - basic 230.1 229.9 230.0 229.9 Add: effect of dilutive securities 0.4 0.7 0.5 0.6 Diluted average number of common shares outstanding 230.5 230.6 230.5 230.5 Basic EPS $ 1.53 $ 1.86 $ 2.93 $ 3.24 Diluted EPS $ 1.53 $ 1.86 $ 2.92 $ 3.23 Anti-dilutive securities excluded from the computation of diluted EPS for the three months ended and year to date September 30, 2023 were 3,950,000 common shares issuable pursuant to a warrant. There were no anti-dilutive shares excluded from the computation of diluted EPS for the three months ended and year to date September 30, 2022. Dividends Declared In October 2023, Evergy's Board of Directors (Evergy Board) declared a quarterly dividend of $0.6425 per share on Evergy's common stock. The common dividend is payable on December 20, 2023, to shareholders of record as of November 22, 2023. In October 2023, Evergy Metro's Board of Directors declared a dividend to Evergy of up to $150.0 million, payable on December 18, 2023, or such other date as determined necessary, proper, or advisable. Supplemental Cash Flow Information Evergy Year to Date September 30 2023 2022 Cash paid for (received from): (millions) Interest, net of amount capitalized $ 370.3 $ 305.5 Income taxes, net of refunds 19.0 8.0 Right-of-use assets obtained in exchange for new operating lease liabilities 12.1 8.2 Right-of-use assets obtained in exchange for new finance lease liabilities 3.7 7.0 Non-cash investing transactions: Property, plant and equipment additions 171.4 128.6 Evergy Kansas Central Year to Date September 30 2023 2022 Cash paid for (received from): (millions) Interest, net of amount capitalized $ 149.4 $ 130.9 Income taxes, net of refunds 53.0 43.1 Right-of-use assets obtained in exchange for new operating lease liabilities 6.4 8.0 Right-of-use assets obtained in exchange for new finance lease liabilities 3.7 7.0 Non-cash investing transactions: Property, plant and equipment additions 85.1 51.7 Evergy Metro Year to Date September 30 2023 2022 Cash paid for (received from): (millions) Interest, net of amount capitalized $ 82.2 $ 84.3 Income taxes, net of refunds (0.4) (0.4) Right-of-use assets obtained in exchange for new operating lease liabilities 5.1 0.2 Non-cash investing transactions: Property, plant and equipment additions 65.4 53.7 Renewable Generation Investment In August 2022, Evergy Missouri West entered into an agreement with a renewable energy development company to purchase Persimmon Creek Wind Farm 1, LLC (Persimmon Creek), owner of an operational wind farm located in the state of Oklahoma with a generating capacity of approximately 199 MW, for approximately $250 million. Pursuant to the agreement, Evergy Missouri West was permitted to assign its right to purchase Persimmon Creek to another entity, including to other Evergy affiliated companies. Evergy Missouri West's purchase was subject to regulatory approvals and closing conditions, including the granting of a Certificate of Convenience and Necessity (CCN) by the Public Service Commission of the State of Missouri (MPSC). In April 2023, the MPSC issued a final order granting the CCN pursuant to certain conditions related to the sharing of operational costs between ratepayers and shareholders. In May 2023, Evergy Missouri West assigned its right to purchase Persimmon Creek to Evergy Kansas Central and Evergy Kansas Central closed on the purchase of Persimmon Creek for $220.9 million, including costs incidental to the purchase of the plant. In September 2023, Evergy Kansas Central reached a unanimous settlement agreement that, among other things, included the purchase of Persimmon Creek in its rates through a levelized revenue requirement approach at a fixed annual rate of $18.6 million for the first 20 years, after which the levelized revenue requirement will be reevaluated. The unanimous settlement agreement must still be approved by the State Corporation Commission of the State of Kansas (KCC). See Note 4 for additional information on Evergy Kansas Central's rate case proceeding. Natural Gas Plant Investment |
REVENUE
REVENUE | 9 Months Ended |
Sep. 30, 2023 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE | REVENUE Evergy's, Evergy Kansas Central's and Evergy Metro's revenues disaggregated by customer class are summarized in the following tables. Evergy Three Months Ended Year to Date 2023 2022 2023 2022 Revenues (millions) Residential $ 675.1 $ 746.6 $ 1,626.4 $ 1,711.8 Commercial 528.6 583.7 1,419.3 1,452.3 Industrial 158.9 197.2 475.3 517.6 Other retail 11.6 (39.0) 31.8 (20.2) Total electric retail $ 1,374.2 $ 1,488.5 $ 3,552.8 $ 3,661.5 Wholesale 148.3 250.6 301.8 382.0 Transmission 101.9 101.3 308.2 300.3 Industrial steam and other 7.1 6.3 24.6 17.0 Total revenue from contracts with customers $ 1,631.5 $ 1,846.7 $ 4,187.4 $ 4,360.8 Other 37.8 62.4 132.9 218.7 Operating revenues $ 1,669.3 $ 1,909.1 $ 4,320.3 $ 4,579.5 Evergy's other retail electric revenues for the three months ended and year to date September 30, 2022, include a $47.5 million deferral of revenues to a regulatory liability for the refund of amounts collected from customers since December 2018 for the return on investment of the retired Sibley Station. Evergy Kansas Central Three Months Ended Year to Date 2023 2022 2023 2022 Revenues (millions) Residential $ 262.9 $ 343.1 $ 647.3 $ 762.0 Commercial 196.5 267.0 555.3 625.9 Industrial 93.4 134.0 300.1 346.7 Other retail 5.7 4.6 12.5 13.2 Total electric retail $ 558.5 $ 748.7 $ 1,515.2 $ 1,747.8 Wholesale 106.3 156.9 232.7 288.4 Transmission 97.6 91.2 294.8 269.8 Other 0.4 0.4 2.1 1.6 Total revenue from contracts with customers $ 762.8 $ 997.2 $ 2,044.8 $ 2,307.6 Other 10.5 24.2 46.7 51.7 Operating revenues $ 773.3 $ 1,021.4 $ 2,091.5 $ 2,359.3 Evergy Metro Three Months Ended Year to Date 2023 2022 2023 2022 Revenues (millions) Residential $ 259.9 $ 255.9 $ 603.9 $ 600.7 Commercial 232.9 222.0 606.1 589.7 Industrial 37.2 36.6 100.6 98.8 Other retail 3.4 3.0 9.5 8.6 Total electric retail $ 533.4 $ 517.5 $ 1,320.1 $ 1,297.8 Wholesale 43.4 81.4 80.7 86.6 Transmission 3.7 4.6 10.8 14.4 Other 0.9 0.6 3.3 — Total revenue from contracts with customers $ 581.4 $ 604.1 $ 1,414.9 $ 1,398.8 Other 26.8 37.7 85.0 165.6 Operating revenues $ 608.2 $ 641.8 $ 1,499.9 $ 1,564.4 |
RECEIVABLES
RECEIVABLES | 9 Months Ended |
Sep. 30, 2023 | |
Receivables [Abstract] | |
RECEIVABLES | RECEIVABLES The Evergy Companies' receivables are detailed in the following table. September 30 December 31 2023 2022 Evergy (millions) Customer accounts receivable - billed $ 15.7 $ 8.9 Customer accounts receivable - unbilled 191.4 136.9 Other receivables 144.5 200.9 Allowance for credit losses (21.5) (31.4) Total $ 330.1 $ 315.3 Evergy Kansas Central Customer accounts receivable - billed $ — $ — Customer accounts receivable - unbilled 66.6 71.4 Other receivables 141.9 194.9 Allowance for credit losses (9.9) (16.9) Total $ 198.6 $ 249.4 Evergy Metro Customer accounts receivable - billed $ — $ — Customer accounts receivable - unbilled 81.0 25.5 Other receivables 15.8 21.6 Allowance for credit losses (7.2) (9.3) Total $ 89.6 $ 37.8 The Evergy Companies' other receivables as of September 30, 2023 and December 31, 2022, consisted primarily of receivables from partners in jointly-owned electric utility plants, wholesale sales receivables and receivables related to alternative revenue programs. The Evergy Companies' other receivables also included receivables from contracts with customers as summarized in the following table. September 30 December 31 2023 2022 (millions) Evergy $ 70.6 $ 113.0 Evergy Kansas Central 67.4 110.8 Evergy Metro 2.1 1.3 The change in the Evergy Companies' allowance for credit losses is summarized in the following table. 2023 2022 Evergy (millions) Beginning balance January 1 $ 31.4 $ 32.9 Credit loss expense 7.4 4.9 Write-offs (25.2) (21.6) Recoveries of prior write-offs 7.9 8.5 Ending balance September 30 $ 21.5 $ 24.7 Evergy Kansas Central Beginning balance January 1 $ 16.9 $ 13.0 Credit loss expense 3.1 5.4 Write-offs (13.6) (10.1) Recoveries of prior write-offs 3.5 3.4 Ending balance September 30 $ 9.9 $ 11.7 Evergy Metro Beginning balance January 1 $ 9.3 $ 13.3 Credit loss expense (income) 2.7 (0.4) Write-offs (7.8) (7.8) Recoveries of prior write-offs 3.0 3.5 Ending balance September 30 $ 7.2 $ 8.6 Sale of Accounts Receivable Evergy Kansas Central, Evergy Metro and Evergy Missouri West sell an undivided percentage ownership interest in their retail electric accounts receivable to independent outside investors. These sales are accounted for as secured borrowings with accounts receivable pledged as collateral and a corresponding short-term collateralized note payable recognized on the balance sheets. The Evergy Companies' accounts receivable pledged as collateral and the corresponding short-term collateralized note payable are summarized in the following table. September 30 December 31 2023 2022 (millions) Evergy $ 395.0 $ 359.0 Evergy Kansas Central 200.0 185.0 Evergy Metro 130.0 124.0 Each receivable sale facility expires in 2024. Evergy Kansas Central's facility allows for $185.0 million in aggregate outstanding principal amount of borrowings from mid-November through mid-July and then |
RATE MATTERS AND REGULATION
RATE MATTERS AND REGULATION | 9 Months Ended |
Sep. 30, 2023 | |
Regulated Operations [Abstract] | |
RATE MATTERS AND REGULATION | RATE MATTERS AND REGULATION KCC Proceedings Evergy Kansas Central's and Evergy Metro's 2023 Rate Case Proceeding In April 2023, Evergy Kansas Central and Evergy Metro filed applications with the KCC to request increases to their retail revenues of approximately $204 million and $14 million, respectively. Evergy Kansas Central's request reflected a return on equity of 10.25% (with a capital structure composed of 52% equity) and increases related to the recovery of infrastructure investments made to improve reliability and enhance customer service, the inclusion of Evergy Kansas Central's non-regulated 8% ownership share of Jeffrey Energy Center (JEC) in rate base and the management of the previously established end to a corporate-owned life insurance (COLI) program. Evergy Kansas Central also requested the inclusion of the cost of Persimmon Creek of approximately $220.9 million. The cost of Persimmon Creek was not included in Evergy Kansas Central's approximately $204 million increase to retail revenue requested in the case but if approved by the KCC, the cost of Persimmon Creek would have resulted in an additional $21.5 million increase to Evergy Kansas Central's retail revenues. The addition of Persimmon Creek is consistent with the preferred plan identified through Evergy Kansas Central's integrated resource plan filed with the KCC in June 2023, which identified the wind farm as part of the lowest-cost resource plan to serve customers. Evergy Metro's request reflected a return on equity of 10.25% (with a capital structure composed of 52% equity) and increases related to recovery of infrastructure investments made to improve reliability and enhance customer service. Requests for increases in retail revenues in both proceedings were partially offset by significant customer savings and cost reductions. In September 2023, Evergy Kansas Central, Evergy Metro, KCC staff and other intervenors reached a unanimous settlement agreement to settle all issues in the case. The unanimous settlement agreement provides for an increase in retail revenues of $74.0 million for Evergy Kansas Central and a decrease in retail revenues of $32.9 million for Evergy Metro. For Evergy Kansas Central, the settlement included the recovery of Persimmon Creek costs through a levelized revenue requirement approach at a fixed rate of $18.6 million for the first 20 years, after which the levelized revenue requirement will be reevaluated. The parties agreed to include Evergy Kansas Central's non-regulated 8% ownership share of JEC in rate base. The fuel costs and wholesale sales associated with Evergy Kansas Central's non-regulated 8% ownership share of JEC will be included in Evergy Kansas Central's fuel recovery mechanism effective with the new rates. The settlement included a refund to Evergy Kansas Central customers of $96.5 million amortized over three years to account for the difference between the expected amount of COLI rate credits approved and the actual amount of COLI rate credits received by customers from 1987 through December 31, 2023. This amount is recorded as a regulatory liability as of September 30, 2023 with a corresponding reduction to revenues in the third quarter 2023. The unanimous settlement agreement must still be approved by the KCC. New rates are expected to be effective in December 2023. Evergy Kansas Central 2023 Transmission Delivery Charge (TDC) In April 2023, the KCC issued an order adjusting Evergy Kansas Central's retail prices to include updated transmission costs as reflected in the Federal Energy Regulatory Commission (FERC) transmission formula rate (TFR). The new prices were effective in May 2023 and included the adjustments to the 2023 TFR described under "Evergy Kansas Central TFR Formal Challenge" within this Note 4. The new prices are expected to decrease Evergy Kansas Central's annual retail revenues by $22.3 million when compared to 2022. Evergy Metro 2023 TDC In April 2023, the KCC issued an order adjusting Evergy Metro's retail prices to include updated transmission costs as reflected in the FERC TFR. The new prices were effective in May 2023 and are expected to increase Evergy Metro's annual retail revenues by $4.0 million when compared to 2022. Evergy Kansas Central and Evergy Metro Earnings Review and Sharing Plan (ERSP) As part of their 2018 merger settlement agreement with the KCC, Evergy Kansas Central and Evergy Metro agreed to participate in an ERSP for the years 2019 through 2022. Under the ERSP, Evergy Kansas Central's and Evergy Metro's Kansas jurisdiction are required to refund to customers 50% of annual earnings in excess of their authorized return on equity of 9.3% to the extent the excess earnings exceed the amount of annual bill credits that Evergy Kansas Central and Evergy Metro agreed to provide in connection with the merger that resulted in the formation of Evergy. Evergy Kansas Central estimated its 2022 annual earnings did not result in a refund obligation. As of December 31, 2022, Evergy Metro estimated that its 2022 annual earnings resulted in a $16.7 million refund obligation, which was recorded in the fourth quarter of 2022. Evergy Kansas Central and Evergy Metro filed their 2022 ERSP calculations with the KCC in March 2023. As part of these filings, Evergy Metro filed for a lower refund obligation for 2022 of approximately $6 million (compared with its $16.7 million refund obligation estimate) as a result of certain intercompany billings to Evergy Kansas Central. In May 2023, the KCC approved Evergy Metro's application ordering it to refund approximately $6 million. MPSC Proceedings Evergy Missouri West February 2021 Winter Weather Event Securitization In February 2021, much of the central and southern United States, including the service territories of the Evergy Companies, experienced a significant winter weather event that resulted in extremely cold temperatures over a multi-day period (February 2021 winter weather event). In November 2022, the MPSC issued a revised financing order authorizing Evergy Missouri West to issue securitized bonds to recover its extraordinary fuel and purchased power costs incurred as part of the February 2021 winter weather event. As part of the order, the MPSC found that Evergy Missouri West's costs were prudently incurred, that it should only be allowed to recover 95% of its extraordinary fuel and purchased power costs consistent with the 5% sharing provision of its fuel recovery mechanism, that it should be allowed to recover carrying costs incurred since February 2021 at Evergy Missouri West's long-term debt rate of 5.06% and approved a 15 year repayment period for the bonds with a 17 year legal maturity. As of September 30, 2023 and December 31, 2022, the value of Evergy Missouri West's February 2021 winter weather event regulatory asset was $320.2 million and $309.0 million, respectively. Evergy Missouri West will continue to record carrying charges on its February 2021 winter weather event regulatory asset until it issues the securitized bonds. In January 2023, the Office of the Public Counsel (OPC) filed an appeal with the Missouri Court of Appeals, Western District, challenging the financing order regarding the treatment of income tax deductions, carrying costs and discount rates related to the financing of the extraordinary fuel and purchased power costs incurred as part of the February 2021 winter weather event. In September 2023, the Missouri Court of Appeals, Western District, affirmed the November 2022 MPSC revised financing order. In October 2023, the Missouri Court of Appeals, Western District, rejected the OPC's request for rehearing. The OPC is permitted to file an appeal with the Supreme Court of the State of Missouri until mid-November 2023. A final nonappealable financing order is required prior to the issuance of securitized bonds. FERC Proceedings In October of each year, Evergy Kansas Central and Evergy Metro post an updated TFR that includes projected transmission capital expenditures and operating costs for the following year. This rate is the most significant component in the retail rate calculation for Evergy Kansas Central's and Evergy Metro's annual request with the KCC to adjust retail prices to include updated transmission costs through the TDC. Evergy Kansas Central TFR Annual Update In the most recent two years, the updated TFR was expected to adjust Evergy Kansas Central's annual transmission revenues by approximately: • $21.7 million decrease effective in March 2023; and • $33.2 million increase effective in January 2022. See "Evergy Kansas Central TFR Formal Challenge" within this Note 4 for more information regarding the March 2023 adjustment. Evergy Kansas Central TFR Formal Challenge In March 2022, certain Evergy Kansas Central TFR customers submitted a formal challenge regarding the implementation of Evergy Kansas Central's TFR, specifically with regards to how Evergy Kansas Central's capital structure was calculated as part of determining the Annual Transmission Revenue Requirement (ATRR). As part of this challenge, the customers requested that Evergy Kansas Central make refunds for over-collections in rate years 2018, 2019, 2020, 2021 and 2022 as a result of the calculation of its capital structure included in the TFR. Evergy Kansas Central disputed that any refunds for 2018 - 2022 were required because Evergy Kansas Central was following its approved TFR formula. In December 2022, FERC issued an order upholding in part, and denying in part, the formal challenge of Evergy Kansas Central's TFR by certain customers. As a result of this order, Evergy and Evergy Kansas Central recorded a $32.8 million regulatory liability on their consolidated balance sheets as of December 31, 2022 for the estimated refund of TFR revenue over-collections related to the calculation of Evergy Kansas Central's capital structure for rate years 2018 - 2022. In March 2023, Evergy Kansas Central refiled its annual update to include the refund of the 2020, 2021 and 2022 over-collections as part of its 2023 TFR effective in March 2023. In February 2023, certain Evergy Kansas Central TFR customers submitted a formal complaint requesting the refund of over-collections related to the 2018 and 2019 rate years. A decision from FERC regarding this complaint is expected in 2023 or 2024. Evergy Metro TFR Annual Update In the most recent two years, the updated TFR was expected to adjust Evergy Metro's annual transmission revenues by approximately: • $8.6 million increase effective in January 2023; and • $18.1 million increase effective in January 2022. |
GOODWILL
GOODWILL | 9 Months Ended |
Sep. 30, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL | GOODWILLGAAP requires goodwill to be tested for impairment annually and when an event occurs indicating the possibility that an impairment exists. Evergy's impairment test for the $2,336.6 million of goodwill that was recorded as a result of the Great Plains Energy and Evergy Kansas Central merger was conducted as of May 1, 2023. The goodwill impairment test consists of comparing the fair value of a reporting unit to its carrying amount, including goodwill, to identify potential impairment. In the event that the carrying amount exceeds the fair value of the reporting unit, an impairment loss is recognized for the difference between the carrying amount of the reporting unit and its fair value. Evergy's consolidated operations are considered one reporting unit for assessment of impairment, as management assesses financial performance and allocates resources on a consolidated basis. The determination of fair value of the reporting unit consisted of two valuation techniques: an income approach consisting of a discounted cash flow analysis and a market approach consisting of a determination of reporting unit invested capital using a market multiple derived from the historical earnings before interest, income taxes, depreciation and amortization and market prices of the stock of peer companies. The results of the two techniques were evaluated and weighted to determine a point within the range that management considered representative of fair value for the reporting unit. The fair value of the reporting unit exceeded the carrying amount, including goodwill. As a result, there was no impairment of goodwill. |
PENSION PLANS AND POST-RETIREME
PENSION PLANS AND POST-RETIREMENT BENEFITS | 9 Months Ended |
Sep. 30, 2023 | |
Retirement Benefits [Abstract] | |
PENSION PLANS AND POST-RETIREMENT BENEFITS | PENSION PLANS AND POST-RETIREMENT BENEFITS Evergy and certain of its subsidiaries maintain, and Evergy Kansas Central and Evergy Metro participate in, qualified non-contributory defined benefit pension plans covering the majority of Evergy Kansas Central's and Evergy Metro's employees as well as certain non-qualified plans covering certain active and retired officers. Evergy is also responsible for its indirect 94% ownership share of Wolf Creek Generating Station's (Wolf Creek) defined benefit plans, consisting of Evergy Kansas South's and Evergy Metro's respective 47% ownership shares. For the majority of employees, pension benefits under these plans reflect the employees' compensation, years of service and age at retirement. However, for the plan covering Evergy Kansas Central's employees, the benefits for non-union employees hired between 2002 and the second quarter of 2018 and union employees hired beginning in 2012 are derived from a cash balance account formula. The plan was closed to future non-union employees in 2018. For the plans covering Evergy Metro's employees, the benefits for union employees hired beginning in 2014 are derived from a cash balance account formula and the plans were closed to future non-union employees in 2014. Evergy and its subsidiaries also provide certain post-retirement health care and life insurance benefits for substantially all retired employees of Evergy Kansas Central and Evergy Metro and their respective shares of Wolf Creek's post-retirement benefit plans. The Evergy Companies record pension and post-retirement expense in accordance with rate orders from the KCC and MPSC that allow the difference between pension and post-retirement costs under GAAP and costs for ratemaking to be recognized as a regulatory asset or liability. This difference between financial and regulatory accounting methods is due to timing and will be eliminated over the life of the plans. For the three months ended September 30, 2023, Evergy, Evergy Kansas Central and Evergy Metro recorded pension settlement charges (credits) of ($1.7) million, $0.4 million and ($2.1) million, respectively. Year to date September 30, 2023, Evergy, Evergy Kansas Central and Evergy Metro recorded pension settlement charges (credits) of ($19.6) million, $1.0 million and ($20.6) million, respectively. These settlement charges were the result of accelerated distributions as a result of employee retirements for certain plan participants. Evergy, Evergy Kansas Central and Evergy Metro deferred substantially all of the charges to regulatory assets or regulatory liabilities and expect to recover these amounts over future periods pursuant to regulatory agreements. For the three months ended and year to date September 30, 2022, Evergy, Evergy Kansas Central and Evergy Metro recorded no pension settlement charges. The following tables provide the components of net periodic benefit costs prior to the effects of capitalization and sharing with joint owners of power plants. Pension Benefits Post-Retirement Benefits Three Months Ended September 30, 2023 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 11.4 $ 4.7 $ 6.7 $ 0.5 $ 0.2 $ 0.3 Interest cost 22.9 11.6 11.0 2.7 1.6 1.4 Expected return on plan assets (21.9) (11.0) (10.9) (2.9) (1.7) (1.4) Prior service cost 0.4 0.5 — — — (0.1) Recognized net actuarial gain (4.8) (0.3) (4.3) (1.1) (0.5) (0.6) Settlement charges (credits) (1.7) 0.4 (2.1) — — — Net periodic benefit costs before regulatory adjustment and intercompany allocations 6.3 5.9 0.4 (0.8) (0.4) (0.4) Regulatory adjustment 14.4 6.8 7.3 (0.2) (0.6) 0.5 Intercompany allocations — (0.5) (0.3) — 0.1 — Net periodic benefit costs (income) $ 20.7 $ 12.2 $ 7.4 $ (1.0) $ (0.9) $ 0.1 Pension Benefits Post-Retirement Benefits Year to Date September 30, 2023 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 34.6 $ 14.3 $ 20.3 $ 1.4 $ 0.7 $ 0.7 Interest cost 68.3 34.8 32.7 8.3 4.3 4.1 Expected return on plan assets (65.8) (33.2) (32.6) (8.9) (4.7) (4.2) Prior service cost 1.4 1.5 — — — (0.3) Recognized net actuarial gain (14.3) (1.0) (12.7) (3.2) (1.5) (1.6) Settlement charges (credits) (19.6) 1.0 (20.6) — — — Net periodic benefit costs before regulatory adjustment and intercompany allocations 4.6 17.4 (12.9) (2.4) (1.2) (1.3) Regulatory adjustment 69.9 21.1 48.3 (0.5) (1.8) 1.5 Intercompany allocations — (1.6) (0.8) — 0.2 — Net periodic benefit costs (income) $ 74.5 $ 36.9 $ 34.6 $ (2.9) $ (2.8) $ 0.2 Pension Benefits Post-Retirement Benefits Three Months Ended September 30, 2022 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 19.9 $ 7.7 $ 12.2 $ 0.8 $ 0.4 $ 0.4 Interest cost 19.9 9.6 9.9 1.9 1.0 1.0 Expected return on plan assets (26.0) (12.8) (14.1) (2.5) (1.7) (0.9) Prior service cost 0.5 0.5 — 0.2 0.1 (0.4) Recognized net actuarial (gain)/loss 8.6 6.4 9.7 (0.2) — (0.3) Net periodic benefit costs before regulatory adjustment and intercompany allocations 22.9 11.4 17.7 0.2 (0.2) (0.2) Regulatory adjustment 8.1 2.2 (0.6) (0.7) (0.7) 0.5 Intercompany allocations — 1.7 (5.1) — 0.1 (0.2) Net periodic benefit costs (income) $ 31.0 $ 15.3 $ 12.0 $ (0.5) $ (0.8) $ 0.1 Pension Benefits Post-Retirement Benefits Year to Date September 30, 2022 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 59.8 $ 23.1 $ 36.7 $ 2.3 $ 1.2 $ 1.1 Interest cost 59.5 29.0 29.8 5.9 3.0 2.9 Expected return on plan assets (78.0) (38.4) (42.3) (7.6) (4.9) (2.8) Prior service cost 1.4 1.5 — 0.4 0.3 (1.1) Recognized net actuarial (gain)/loss 26.1 19.2 29.0 (0.3) (0.1) (0.5) Net periodic benefit costs before regulatory adjustment and intercompany allocations 68.8 34.4 53.2 0.7 (0.5) (0.4) Regulatory adjustment 39.0 7.9 11.6 (1.9) (2.1) 1.8 Intercompany allocations — 2.1 (13.5) — 0.2 (0.5) Net periodic benefit costs (income) $ 107.8 $ 44.4 $ 51.3 $ (1.2) $ (2.4) $ 0.9 Year to date September 30, 2023, Evergy, Evergy Kansas Central and Evergy Metro made pension contributions of $27.0 million, $17.7 million and $9.3 million, respectively. Evergy, Evergy Kansas Central and Evergy Metro do not expect to make additional pension contributions in 2023. Year to date September 30, 2023, Evergy, Evergy Kansas Central and Evergy Metro made post-retirement benefit contributions of $0.4 million, $0.2 million and $0.2 million, respectively. Evergy, Evergy Kansas Central and Evergy Metro expect to make additional contributions in 2023 of $1.1 million, $0.2 million and $0.9 million, respectively, to the post-retirement benefit plans. |
SHORT-TERM BORROWINGS AND SHORT
SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT | 9 Months Ended |
Sep. 30, 2023 | |
Debt Disclosure [Abstract] | |
SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT | SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT In June 2023, the Evergy Companies extended the expiration date of their $2.5 billion master credit facility from 2026 to 2027. Evergy, Evergy Kansas Central, Evergy Metro and Evergy Missouri West have borrowing capacity under the master credit facility with specific sublimits for each borrower. These sublimits can be unilaterally adjusted by Evergy for each borrower provided the sublimits remain within minimum and maximum sublimits as specified in the facility. The applicable interest rates and commitment fees of the facility are subject to upward or downward adjustments, within certain limitations, if Evergy achieves, or fails to achieve, certain sustainability-linked targets based on two key performance indicator metrics: (i) Non-Emitting Generation Capacity and (ii) Diverse Supplier Spend (as defined in the facility). A default by any borrower under the facility or one of its significant subsidiaries on other indebtedness totaling more than $100.0 million constitutes a default by that borrower under the facility. Under the terms of this facility, each of Evergy, Evergy Kansas Central, Evergy Metro and Evergy Missouri West is required to maintain a total indebtedness to total capitalization ratio, as defined in the facility, of not greater than 0.65 to 1.00 at all times. As of September 30, 2023, Evergy, Evergy Kansas Central, Evergy Metro and Evergy Missouri West were in compliance with this covenant. The following table summarizes the committed credit facilities (excluding receivable sale facilities discussed in Note 3) available to the Evergy Companies as of September 30, 2023 and December 31, 2022. Amounts Drawn Master Credit Facility Commercial Paper Letters of Credit Cash Borrowings Available Borrowings Weighted Average Interest Rate on Short-Term Borrowings September 30, 2023 (millions) Evergy, Inc. $ 300.0 $ 112.9 $ 0.7 $ — $ 186.4 5.50% Evergy Kansas Central 850.0 660.2 1.0 — 188.8 5.55% Evergy Metro 650.0 331.8 — — 318.2 5.46% Evergy Missouri West 700.0 573.5 — — 126.5 5.54% Evergy $ 2,500.0 $ 1,678.4 $ 1.7 $ — $ 819.9 December 31, 2022 Evergy, Inc. $ 450.0 $ — $ 0.7 $ — $ 449.3 —% Evergy Kansas Central 1,000.0 772.1 — — 227.9 4.91% Evergy Metro 350.0 111.0 — — 239.0 5.02% Evergy Missouri West 700.0 449.2 — — 250.8 4.84% Evergy $ 2,500.0 $ 1,332.3 $ 0.7 $ — $ 1,167.0 In February 2023, Evergy, Inc. amended a $500.0 million unsecured Term Loan Credit Agreement (Term Loan Facility) that originally expired in February 2023 to extend the expiration date to February 2024. As a result of the amendment, Evergy, Inc. demonstrated its intent and ability to refinance the Term Loan Facility and reflected this $500.0 million borrowing within long-term debt, net, on Evergy's consolidated balance sheet as of December 31, 2022. As of September 30, 2023, Evergy had borrowed $500.0 million under the Term Loan Facility that is reflected within notes payable and commercial paper on Evergy's consolidated balance sheet. Evergy's borrowings under the Term Loan Facility were used for, among other things, working capital, capital expenditures and general corporate purposes. The weighted average interest rate for borrowings under the Term Loan Facility as of September 30, 2023, was 6.44%. The Term Loan Facility contains customary covenants, including one that sets the ratio of maximum allowed total indebtedness to total capitalization of not greater than 0.65 to 1.00, for Evergy and its subsidiaries on a consolidated basis. As of September 30, 2023, Evergy was in compliance with this covenant. |
LONG-TERM DEBT
LONG-TERM DEBT | 9 Months Ended |
Sep. 30, 2023 | |
Debt Disclosure [Abstract] | |
LONG-TERM DEBT | LONG-TERM DEBT Mortgage Bonds In March 2023, Evergy Kansas Central issued, at a discount, $400.0 million of 5.70% First Mortgage Bonds (FMBs), maturing in 2053. The proceeds of the issuance were used to repay commercial paper borrowings and for general corporate purposes. In April 2023, Evergy Metro issued, at a discount, $300.0 million of 4.95% Mortgage Bonds, maturing April 2033. The proceeds of the issuance were used to repay Evergy Metro's commercial paper borrowings which were incurred to repay the $300.0 million principal amount of Evergy Metro's 3.15% Senior Notes that matured in March 2023. In May 2023, Evergy Kansas South repaid its $50.0 million of 6.15% FMBs at maturity. Senior Notes In March 2023, Evergy Metro repaid its $300.0 million of 3.15% Senior Notes at maturity. |
DERIVATIVE INSTRUMENTS
DERIVATIVE INSTRUMENTS | 9 Months Ended |
Sep. 30, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE INSTRUMENTS | DERIVATIVE INSTRUMENTS The Evergy Companies engage in the wholesale and retail sale of electricity as part of their regulated electric operations, in addition to limited non-regulated energy marketing activities. These activities expose the Evergy Companies to market risks associated with the price of electricity, natural gas and other energy-related products. Management has established risk management policies and strategies to reduce the potentially adverse effects that the volatility of the markets may have on the Evergy Companies' operating results. The Evergy Companies' commodity risk management activities, which are subject to the management, direction and control of an internal risk management committee, utilize derivative instruments to reduce the effects of fluctuations in wholesale sales and fuel and purchased power expense caused by commodity price volatility. The Evergy Companies are also exposed to market risks arising from changes in interest rates and may use derivative instruments to manage these risks. The Evergy Companies' interest rate risk management activities have included using derivative instruments to hedge against future interest rate fluctuations on anticipated debt issuances. The Evergy Companies also engage in non-regulated energy marketing activity for trading purposes, primarily at Evergy Kansas Central, which focuses on seizing market opportunities to create value driven by expected changes in the market prices of commodities, primarily electricity and natural gas. The Evergy Companies consider various qualitative factors, such as contract and marketplace attributes, in designating derivative instruments at inception. The Evergy Companies may elect the normal purchases and normal sales (NPNS) exception, which requires the effects of the derivative to be recorded when the underlying contract settles under accrual accounting. The Evergy Companies account for derivative instruments that are not designated as NPNS primarily as either economic hedges or trading contracts (non-hedging derivatives) which are recorded as assets or liabilities on the consolidated balance sheets at fair value. See Note 10 for additional information on the Evergy Companies' methods for assessing the fair value of derivative instruments. Changes in the fair value of non-hedging derivatives that are related to the Evergy Companies' regulated operations are deferred to a regulatory asset or regulatory liability when determined to be probable of future recovery or refund from customers. Recovery of the actual costs incurred by regulated activities will not impact earnings but will impact cash flows due to the timing of the recovery mechanism. Cash flows for all derivative instruments are classified as operating activities on the Evergy Companies' statements of cash flows, with the exception of cash flows for interest rate swap agreements accounted for as cash flows hedges of forecasted debt transactions, which are recorded as financing activities. Changes in the fair value of non-hedging derivatives that are not related to the Evergy Companies' regulated operations are recorded in operating revenues on the Evergy Companies' statements of income and comprehensive income. The Evergy Companies offset fair value amounts recognized for derivative instruments under master netting arrangements, which include rights to reclaim cash collateral (a receivable), or the obligation to return cash collateral (a payable). The gross notional contract amount by commodity type for derivative instruments is summarized in the following table. September 30 December 31 Non-hedging derivatives Notional volume unit of measure 2023 2022 Evergy (millions) Commodity contracts Power MWhs 79.8 67.2 Natural gas MMBtu 236.2 772.7 Evergy Kansas Central Commodity contracts Power MWhs 47.3 41.6 Natural gas MMBtu 234.3 769.6 Evergy Metro Commodity contracts Power MWhs 23.8 18.2 The fair values of Evergy's open derivative positions and balance sheet classifications are summarized in the following tables. The fair values below are gross values before netting agreements and netting of cash collateral. September 30 December 31 Evergy 2023 2022 Non-hedging derivatives Balance sheet location Commodity contracts (millions) Power Other assets - current $ 29.3 $ 41.6 Other assets - long-term 37.2 65.6 Natural gas Other assets - current 11.1 221.0 Other assets - long-term 1.6 1.6 Total derivative assets $ 79.2 $ 329.8 Commodity contracts Power Other liabilities - current $ 21.9 $ 41.0 Other liabilities - long-term 34.2 61.5 Natural gas Other liabilities - current 11.0 218.8 Other liabilities - long-term 1.6 1.6 Total derivative liabilities $ 68.7 $ 322.9 September 30 December 31 Evergy Kansas Central 2023 2022 Non-hedging derivatives Balance sheet location Commodity contracts (millions) Power Other assets - current $ 21.7 $ 36.7 Other assets - long-term 37.2 65.6 Natural gas Other assets - current 11.1 221.0 Other assets - long-term 1.6 1.6 Total derivative assets $ 71.6 $ 324.9 Commodity contracts Power Other liabilities - current $ 16.1 $ 35.6 Other liabilities - long-term 34.2 61.5 Natural gas Other liabilities - current 10.7 215.1 Other liabilities - long-term 1.6 1.6 Total derivative liabilities $ 62.6 $ 313.8 September 30 December 31 Evergy Metro 2023 2022 Non-hedging derivatives Balance sheet location Commodity contracts (millions) Power Other assets - current $ 3.0 $ 3.5 Total derivative assets $ 3.0 $ 3.5 Commodity contracts Power Other liabilities - current $ 4.9 $ 4.1 Total derivative liabilities $ 4.9 $ 4.1 The following tables present the line items on the Evergy Companies' consolidated balance sheets where derivative assets and liabilities are reported. The gross amounts offset in the tables below show the effect of master netting arrangements and include collateral posted to offset the net position. September 30, 2023 Evergy Evergy Kansas Central Evergy Metro Derivative Assets (millions) Current Gross amounts recognized $ 40.4 $ 32.8 $ 3.0 Gross amounts offset (21.4) (17.6) (3.0) Net amounts presented in other assets - current $ 19.0 $ 15.2 $ — Long-Term Gross amounts recognized $ 38.8 $ 38.8 $ — Gross amounts offset (9.3) (9.3) — Net amounts presented in other assets - long-term $ 29.5 $ 29.5 $ — Derivative Liabilities Current Gross amounts recognized $ 32.9 $ 26.8 $ 4.9 Gross amounts offset (20.3) (16.4) (3.0) Net amounts presented in other liabilities - current $ 12.6 $ 10.4 $ 1.9 Long-Term Gross amounts recognized $ 35.8 $ 35.8 $ — Gross amounts offset (4.2) (4.2) — Net amounts presented in other liabilities - long-term $ 31.6 $ 31.6 $ — December 31, 2022 Evergy Evergy Kansas Central Evergy Metro Derivative Assets (millions) Current Gross amounts recognized $ 262.6 $ 257.7 $ 3.5 Gross amounts offset (237.4) (232.9) (3.5) Net amounts presented in other assets - current $ 25.2 $ 24.8 $ — Long-Term Gross amounts recognized $ 67.2 $ 67.2 $ — Gross amounts offset (42.1) (42.1) — Net amounts presented in other assets - long-term $ 25.1 $ 25.1 $ — Derivative Liabilities Current Gross amounts recognized $ 259.8 $ 250.7 $ 4.1 Gross amounts offset (234.0) (229.4) (3.5) Net amounts presented in other liabilities - current $ 25.8 $ 21.3 $ 0.6 Long-Term Gross amounts recognized $ 63.1 $ 63.1 $ — Gross amounts offset (36.4) (36.4) — Net amounts presented in other liabilities - long-term $ 26.7 $ 26.7 $ — The following table summarizes the amounts of gain (loss) recognized in income for the change in fair value of derivatives not designated as hedging instruments for the Evergy Companies. Three Months Ended Year to Date Location of gain (loss) Contract type 2023 2022 2023 2022 Evergy (millions) Operating revenues Commodity $ 2.7 $ 38.4 $ 20.3 $ 65.6 Total $ 2.7 $ 38.4 $ 20.3 $ 65.6 Evergy Kansas Central Operating revenues Commodity $ 2.7 $ 38.4 $ 20.3 $ 65.6 Total $ 2.7 $ 38.4 $ 20.3 $ 65.6 Credit risk of the Evergy Companies' derivative instruments relates to the potential adverse financial impact resulting from non-performance by a counterparty of its contractual obligations. The Evergy Companies maintain credit policies and employ credit risk mitigation, such as collateral requirements or letters of credit, when necessary to minimize their overall credit risk and monitor exposure. Substantially all of the Evergy Companies' counterparty credit risk associated with derivative instruments relates to Evergy Kansas Central's non-regulated energy marketing activities. As of September 30, 2023, if counterparty groups completely failed to perform on contracts, Evergy's and Evergy Kansas Central's maximum exposure related to derivative assets was $39.7 million. As of September 30, 2023, the potential loss after the consideration of applicable master netting arrangements and collateral received for Evergy and Evergy Kansas Central was $32.6 million. Certain of the Evergy Companies' derivative instruments contain collateral provisions that are tied to the Evergy Companies' credit ratings and may require the posting of collateral for various reasons, including if the Evergy Companies' credit ratings were to fall below investment grade. Substantially all of these derivative instruments relate to Evergy Kansas Central's non-regulated energy marketing activities. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position as of September 30, 2023, was $36.0 million for which Evergy and Evergy Kansas Central have posted collateral of $0.6 million in the normal course of business. If the credit-risk-related contingent features underlying these |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS Values of Financial Instruments GAAP establishes a hierarchical framework for disclosing the transparency of the inputs utilized in measuring assets and liabilities at fair value. Management's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of assets and liabilities within the fair value hierarchy levels. In addition, the Evergy Companies measure certain investments that do not have a readily determinable fair value at net asset value (NAV), which are not included in the fair value hierarchy. Further explanation of these levels and NAV is summarized below. Level 1 – Quoted prices are available in active markets for identical assets or liabilities. The types of assets and liabilities included in Level 1 are highly liquid and actively traded instruments with quoted prices, such as equities listed on public exchanges or exchange-traded derivative instruments. Level 2 – Pricing inputs are not quoted prices in active markets but are either directly or indirectly observable. The types of assets and liabilities included in Level 2 are certain marketable debt securities, financial instruments traded in less than active markets, non-exchange traded derivative instruments with observable forward curves and options contracts. Level 3 – Significant inputs to pricing have little or no transparency. The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation. The types of assets and liabilities included in Level 3 are non-exchange traded derivative instruments for which observable market data is not available to corroborate the valuation inputs and transmission congestion rights (TCRs) in the SPP Integrated Marketplace. NAV - Investments that do not have a readily determinable fair value are measured at NAV. These investments do not consider the observability of inputs and, therefore, they are not included within the fair value hierarchy. The Evergy Companies include in this category investments in private equity, real estate and alternative investment funds that do not have a readily determinable fair value. The underlying alternative investments include collateralized debt obligations, mezzanine debt and a variety of other investments. The Evergy Companies record cash and cash equivalents, accounts receivable and short-term borrowings on their consolidated balance sheets at cost, which approximates fair value due to the short-term nature of these instruments. Fair Value of Long-Term Debt The Evergy Companies measure the fair value of long-term debt using Level 2 measurements available as of the measurement date. The book value and fair value of the Evergy Companies' long-term debt are summarized in the following table. September 30, 2023 December 31, 2022 Book Value Fair Value Book Value Fair Value Long-term debt (a) (millions) Evergy (b) $ 10,187.0 $ 8,695.6 $ 10,344.8 $ 9,160.0 Evergy Kansas Central 4,282.4 3,551.1 3,936.9 3,389.4 Evergy Metro 2,925.2 2,567.4 2,926.6 2,661.7 (a) Includes current maturities. (b) Book value as of September 30, 2023 and December 31, 2022, includes $88.4 million and $92.1 million, respectively, of fair value adjustments recorded in connection with purchase accounting for the Great Plains Energy and Evergy Kansas Central merger, which are not part of future principal payments and will amortize over the remaining life of the associated debt instrument. Recurring Fair Value Measurements The following tables include balances of financial assets and liabilities measured at fair value on a recurring basis. Description September 30, 2023 Netting Level 1 Level 2 Level 3 NAV Evergy Kansas Central (millions) Assets Nuclear decommissioning trust (a) Domestic equity funds $ 128.3 $ — $ 117.8 $ — $ — $ 10.5 International equity funds 68.1 — 68.1 — — — Core bond fund 53.2 — 53.2 — — — High-yield bond fund 27.9 — 27.9 — — — Emerging markets bond fund 17.2 — 17.2 — — — Alternative investments fund 35.1 — — — — 35.1 Real estate securities fund 17.3 — — — — 17.3 Cash equivalents 0.5 — 0.5 — — — Total nuclear decommissioning trust 347.6 — 284.7 — — 62.9 Rabbi trust Fixed income funds 14.3 — 14.3 — — — Equity funds 6.9 — 6.9 — — — Combination debt/equity/other fund 1.7 — 1.7 — — — Cash equivalents 0.2 — 0.2 — — — Total rabbi trust 23.1 — 23.1 — — — Derivative instruments - commodity contracts (b) Power 42.7 (16.2) 17.8 33.2 7.9 — Natural gas 2.0 (10.7) 12.5 0.2 — — Total derivative assets 44.7 (26.9) 30.3 33.4 7.9 — Total assets 415.4 (26.9) 338.1 33.4 7.9 62.9 Liabilities Derivative instruments - commodity contracts (b) Power 40.4 (9.9) 9.4 36.6 4.3 — Natural gas 1.6 (10.7) 12.3 — — — Total derivative liabilities 42.0 (20.6) 21.7 36.6 4.3 — Total liabilities $ 42.0 $ (20.6) $ 21.7 $ 36.6 $ 4.3 $ — Evergy Metro Assets Nuclear decommissioning trust (a) Equity securities $ 271.8 $ — $ 271.8 $ — $ — $ — Debt securities U.S. Treasury 44.8 — 44.8 — — — State and local obligations 3.6 — — 3.6 — — Corporate bonds 40.6 — — 40.6 — — Foreign governments 0.1 — — 0.1 — — Cash equivalents 2.7 — 2.7 — — — Total nuclear decommissioning trust 363.6 — 319.3 44.3 — — Self-insured health plan trust (c) Equity securities 1.7 — 1.7 — — — Debt securities 8.3 — 2.1 6.2 — — Cash and cash equivalents 3.9 — 3.9 — — — Total self-insured health plan trust 13.9 — 7.7 6.2 — — Derivative instruments - commodity contracts (b) Power — (3.0) — — 3.0 — Total derivative assets — (3.0) — — 3.0 — Total assets 377.5 (3.0) 327.0 50.5 3.0 — Liabilities Derivative instruments - commodity contracts (b) Power 1.9 (3.0) — — 4.9 — Total derivative liabilities 1.9 (3.0) — — 4.9 — Total liabilities $ 1.9 $ (3.0) $ — $ — $ 4.9 $ — Description September 30, 2023 Netting Level 1 Level 2 Level 3 NAV Other Evergy (millions) Assets Rabbi trusts Core bond fund $ 8.4 $ — $ 8.4 $ — $ — $ — Total rabbi trusts 8.4 — 8.4 — — — Derivative instruments - commodity contracts (b) Power 3.8 (0.8) — — 4.6 — Total derivative assets 3.8 (0.8) — — 4.6 — Total assets 12.2 (0.8) 8.4 — 4.6 — Liabilities Derivative instruments Power — (0.9) — — 0.9 — Natural gas 0.3 — — 0.3 — — Total derivative liabilities 0.3 (0.9) — 0.3 0.9 — Total liabilities $ 0.3 (0.9) $ — $ 0.3 $ 0.9 $ — Evergy Assets Nuclear decommissioning trust (a) $ 711.2 $ — $ 604.0 $ 44.3 $ — $ 62.9 Rabbi trusts 31.5 — 31.5 — — — Self-insured health plan trust (c) 13.9 — 7.7 6.2 — — Derivative instruments - commodity contracts (b) Power 46.5 (20.0) 17.8 33.2 15.5 — Natural gas 2.0 (10.7) 12.5 0.2 — — Total derivative assets 48.5 (30.7) 30.3 33.4 15.5 — Total assets 805.1 (30.7) 673.5 83.9 15.5 62.9 Liabilities Derivative instruments - commodity contracts (b) Power 42.3 (13.8) 9.4 36.6 10.1 — Natural gas 1.9 (10.7) 12.3 0.3 — — Total derivative liabilities 44.2 (24.5) 21.7 36.9 10.1 — Total liabilities $ 44.2 $ (24.5) $ 21.7 $ 36.9 $ 10.1 $ — Description December 31, 2022 Netting Level 1 Level 2 Level 3 NAV Evergy Kansas Central (millions) Assets Nuclear decommissioning trust (a) Domestic equity funds $ 112.5 $ — $ 100.4 $ — $ — $ 12.1 International equity funds 62.9 — 62.9 — — — Core bond fund 51.0 — 51.0 — — — High-yield bond fund 25.3 — 25.3 — — — Emerging markets bond fund 16.0 — 16.0 — — — Alternative investments fund 31.8 — — — — 31.8 Real estate securities fund 18.9 — — — — 18.9 Cash equivalents 0.4 — 0.4 — — — Total nuclear decommissioning trust 318.8 — 256.0 — — 62.8 Rabbi trust Fixed income funds 15.6 — 15.6 — — — Equity funds 7.3 — 7.3 — — — Combination debt/equity/other fund 1.9 — 1.9 — — — Cash equivalents 0.1 — 0.1 — — — Total rabbi trust 24.9 — 24.9 — — — Derivative instruments - commodity contracts (b) Power 42.6 (59.7) 45.5 46.5 10.3 — Natural gas 7.3 (215.3) 222.5 0.1 — — Total derivative assets 49.9 (275.0) 268.0 46.6 10.3 — Total assets 393.6 (275.0) 548.9 46.6 10.3 62.8 Liabilities Derivative instruments - commodity contracts (b) Power 46.6 (50.5) 34.0 55.9 7.2 — Natural gas 1.4 (215.3) 216.6 0.1 — — Total derivative liabilities 48.0 (265.8) 250.6 56.0 7.2 — Total liabilities $ 48.0 $ (265.8) $ 250.6 $ 56.0 $ 7.2 $ — Evergy Metro Assets Nuclear decommissioning trust (a) Equity securities $ 243.4 $ — $ 243.4 $ — $ — $ — Debt securities U.S. Treasury 40.7 — 40.7 — — — U.S. Agency 0.4 — 0.4 — — — State and local obligations 4.2 — — 4.2 — — Corporate bonds 39.1 — — 39.1 — — Foreign governments 0.1 — — 0.1 — — Cash equivalents 6.6 — 6.6 — — — Total nuclear decommissioning trust 334.5 — 291.1 43.4 — — Self-insured health plan trust (c) Equity securities 1.6 — 1.6 — — — Debt securities 8.0 — 2.5 5.5 — — Cash and cash equivalents 1.6 — 1.6 — — — Total self-insured health plan trust 11.2 — 5.7 5.5 — — Derivative instruments - commodity contracts (b) Power — (3.5) — — 3.5 — Total derivative assets — (3.5) — — 3.5 — Total assets 345.7 (3.5) 296.8 48.9 3.5 — Liabilities Derivative instruments - commodity contracts (b) Power 0.6 (3.5) — — 4.1 — Total derivative liabilities 0.6 (3.5) — — 4.1 — Total liabilities $ 0.6 $ (3.5) $ — $ — $ 4.1 $ — Description December 31, 2022 Netting Level 1 Level 2 Level 3 NAV Other Evergy (millions) Assets Rabbi trusts Core bond fund $ 9.2 $ — $ 9.2 $ — $ — $ — Total rabbi trusts 9.2 — 9.2 — — — Derivative instruments - commodity contracts (b) Power 0.4 (1.0) — — 1.4 — Total derivative assets 0.4 (1.0) — — 1.4 — Total assets 9.6 (1.0) 9.2 — 1.4 — Liabilities Derivative instruments - commodity contracts (b) Power 0.2 (1.1) 0.2 — 1.1 — Natural gas 3.7 — — 3.7 — — Total derivative liabilities 3.9 (1.1) 0.2 3.7 1.1 — Total liabilities $ 3.9 $ (1.1) $ 0.2 $ 3.7 $ 1.1 $ — Evergy Assets Nuclear decommissioning trust (a) $ 653.3 $ — $ 547.1 $ 43.4 $ — $ 62.8 Rabbi trusts 34.1 — 34.1 — — — Self-insured health plan trust (c) 11.2 — 5.7 5.5 — — Derivative instruments - commodity contracts (b) Power 43.0 (64.2) 45.5 46.5 15.2 — Natural gas 7.3 (215.3) 222.5 0.1 — — Total derivative assets 50.3 (279.5) 268.0 46.6 15.2 — Total assets 748.9 (279.5) 854.9 95.5 15.2 62.8 Liabilities Derivative instruments - commodity contracts (b) Power 47.4 (55.1) 34.2 55.9 12.4 — Natural gas 5.1 (215.3) 216.6 3.8 — — Total derivative liabilities 52.5 (270.4) 250.8 59.7 12.4 — Total liabilities $ 52.5 $ (270.4) $ 250.8 $ 59.7 $ 12.4 $ — (a) With the exception of investments measured at NAV, fair value is based on quoted market prices of the investments held by the trust and/or valuation models. (b) Derivative instruments classified as Level 1 consist of exchange-traded derivative instruments with fair value based on quoted market prices. Derivative instruments classified as Level 2 consist of non-exchange traded derivative instruments with observable forward curves and option contracts priced with models using observable inputs. Derivative instruments classified as Level 3 consist of non-exchange traded derivative instruments for which observable market data is not available to corroborate the valuation inputs and TCRs valued at the most recent auction price in the SPP Integrated Marketplace. (c) Fair value is based on quoted market prices of the investments held by the trust. Debt securities classified as Level 1 are comprised of U.S. Treasury securities. Debt securities classified as Level 2 are comprised of corporate bonds, U.S. Agency, state and local obligations, and other asset-backed securities. Certain Evergy and Evergy Kansas Central investments included in the table above are measured at NAV as they do not have readily determinable fair values. In certain situations, these investments may have redemption restrictions. The following table provides additional information on these Evergy and Evergy Kansas Central investments. September 30, 2023 December 31, 2022 September 30, 2023 Fair Unfunded Fair Unfunded Redemption Length of Value Commitments Value Commitments Frequency Settlement Evergy Kansas Central (millions) Nuclear decommissioning trust: Domestic equity funds $ 10.5 $ 1.5 $ 12.1 $ 1.5 (a) (a) Alternative investments fund (b) 35.1 — 31.8 — Quarterly 65 days Real estate securities fund (b) 17.3 — 18.9 — Quarterly 65 days Total Evergy investments at NAV $ 62.9 $ 1.5 $ 62.8 $ 1.5 (a) This investment is in five long-term private equity funds that do not permit early withdrawal. Investments in these funds cannot be distributed until the underlying investments have been liquidated, which may take years from the date of initial liquidation. Three funds have begun to make distributions. The initial investment in the fourth and fifth funds occurred in 2016 and 2018, respectively. The fourth fund's term is 15 years, subject to the general partner's right to extend the term for up to three additional one-year periods. The fifth fund's term is 15 years, subject to additional extensions approved by a fund advisory committee to provide for an orderly liquidation of fund investments and dissolution of the fund. (b) There is a holdback on final redemptions. The Evergy Companies hold equity and debt investments classified as securities in various trusts including for the purposes of funding the decommissioning of Wolf Creek and for the benefit of certain retired executive officers of Evergy Kansas Central. The Evergy Companies record net realized and unrealized gains and losses on the nuclear decommissioning trusts in regulatory liabilities on their consolidated balance sheets and record net realized and unrealized gains and losses on the Evergy Companies' rabbi trusts in the consolidated statements of income and comprehensive income. The following table summarizes the net unrealized gains (losses) for the Evergy Companies' nuclear decommissioning trusts and rabbi trusts. Three Months Ended Year to Date 2023 2022 2023 2022 Evergy (millions) Nuclear decommissioning trust - equity securities $ (8.3) $ (74.3) $ 46.4 $ (145.9) Nuclear decommissioning trust - debt securities (3.4) (5.9) (2.6) (16.0) Rabbi trusts - equity securities (1.1) (2.1) 0.6 (7.8) Total $ (12.8) $ (82.3) $ 44.4 $ (169.7) Evergy Kansas Central Nuclear decommissioning trust - equity securities $ 1.4 $ (37.1) $ 23.4 $ (67.2) Rabbi trust - equity securities (0.7) (1.4) 0.8 (5.6) Total $ 0.7 $ (38.5) $ 24.2 $ (72.8) Evergy Metro Nuclear decommissioning trust - equity securities $ (9.7) $ (37.2) $ 23.0 $ (78.7) Nuclear decommissioning trust - debt securities (3.4) (5.9) (2.6) (16.0) Total $ (13.1) $ (43.1) $ 20.4 $ (94.7) |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Environmental Matters Set forth below are descriptions of contingencies related to environmental matters that may impact the Evergy Companies' operations or their financial results. Management's assessment of these contingencies, which are based on federal and state statutes and regulations, and regulatory agency and judicial interpretations and actions, has evolved over time. These laws, regulations, interpretations and actions can also change, restrict or otherwise impact the Evergy Companies' operations or financial results. The failure to comply with these laws, regulations, interpretations and actions could result in the assessment of administrative, civil and criminal penalties and the imposition of remedial requirements. The Evergy Companies believe that all of their operations are in substantial compliance with current federal, state and local environmental standards. There are a variety of final and proposed laws and regulations that could have a material adverse effect on the Evergy Companies' operations and consolidated financial results. Due in part to the complex nature of environmental laws and regulations, the Evergy Companies are unable to assess the impact of potential changes that may develop with respect to the environmental contingencies described below. Clean Air Act - Startup, Shutdown and Malfunction (SSM) Regulation In 2015, the Environmental Protection Agency (EPA) issued a final rule addressing how state implementation plans (SIPs) can treat excess emissions during SSM events. This rule was referred to as the 2015 SIP Call Rule. The rule required 36 states to submit SIP revisions by November 2016 to remove certain exemptions and other discretionary enforcement provisions that apply to excess emissions during SSM events. Legal challenges ensued and the case was eventually placed in abeyance. In December 2021, the U.S. Court of Appeals for the D.C. Circuit (D.C. Circuit) restarted the litigation and oral arguments were held in March 2022. An additional case was also taking place in the U.S. District Court for the Northern District of California (District Court of Northern California) and in June 2022, the District Court of Northern California entered a final consent decree establishing deadlines for the EPA to take final action on SIP revisions that were submitted in response to the 2015 SIP Call Rule. Deadlines for 26 states and air districts, including Kansas, Missouri and Oklahoma, are listed in the final consent decree. Final action from the EPA could result in required SIP revisions in Oklahoma, Kansas and Missouri which could have a material impact on the Evergy Companies. If the D.C. Circuit overturns the EPA's 2015 SIP Call Rule, the final consent decree's deadlines will no longer be valid. Mercury and Air Toxics Standards (MATS) In April 2023, the EPA released a proposal to tighten certain aspects of the MATS rule. The EPA is proposing to lower the emission limit for particulate matter (PM), require the use of PM continuous emissions monitors (CEMS) and lower the mercury emission limit for lignite coal-fired electric generating units (EGUs). The EPA is also soliciting comment on further strengthening of the PM emission limitation. Due to uncertainty regarding final actions on the MATS rule, the Evergy Companies are unable to accurately assess the impacts of these potential EPA actions on their operations or consolidated financial results, but the cost to comply with the emission limitations as proposed do not appear to be material. Ozone Interstate Transport State Implementation Plans (ITSIP) In 2015, the EPA lowered the Ozone National Ambient Air Quality Standards (NAAQS) from 75 ppb to 70 ppb. Impacted states were required to submit ITSIPs in 2018 to comply with the "Good Neighbor Provision" of the Clean Air Act (CAA). The EPA did not act on these ITSIP submissions by the deadline established in the CAA and entered consent decrees establishing deadlines to take final action on various ITSIPs. In February 2022, the EPA published a proposed rule to disapprove the ITSIPs submitted by nineteen states including Missouri and Oklahoma. In April 2022, the EPA published a final approval of the Kansas ITSIP in the Federal Register. The Missouri Department of Natural Resources (MDNR) submitted a supplemental ITSIP to the EPA on November 1, 2022, but the EPA has not taken action or proposed action on that supplemental ITSIP. In February 2023, the EPA published a final rule disapproving the ITSIPs submitted by 19 states, including the final disapproval of the Missouri and Oklahoma ITSIPs. In April 2023, the Attorneys General of Missouri and Oklahoma filed Petitions for Review in the U.S. Courts of Appeals for the Eighth and Tenth Circuits, respectively, challenging the EPA's disapproval. In May 2023, the Eighth Circuit granted a stay of the EPA's disapproval of the Missouri ITSIP. Similarly, in July 2023, the Tenth Circuit granted a stay of the EPA's disapproval of the Oklahoma ITSIP. Ozone Interstate Transport Federal Implementation Plans (ITFIP) In April 2022, the EPA published in the Federal Register the proposed ITFIP to resolve outstanding "Good Neighbor" obligations with respect to the 2015 Ozone NAAQS for 26 states including Missouri and Oklahoma. This ITFIP would establish a revised Cross-State Air Pollution Rule (CSAPR) ozone season nitrogen oxide (NOx) emissions trading program for electric generating units (EGUs) beginning in 2023 and would limit ozone season NOx emissions from certain industrial stationary sources beginning in 2026. The proposed rule would also establish a new daily backstop NOx emissions rate limit for applicable coal-fired units larger than 100 MW, as well as unit-specific NOx emission rate limits for certain industrial emission units and would feature "dynamic" adjustments of emission budgets for EGUs beginning with ozone season 2025. The proposed ITFIP includes reductions to the state ozone season NOx budgets for Missouri and Oklahoma beginning in 2023 with additional reductions in future years. The Evergy Companies provided formal comments as part of the rulemaking process. In March 2023, the EPA issued the final ITFIPs for twenty-three states, including Missouri and Oklahoma. As a result of the judicial stays of the EPA's disapproval of the Missouri and Oklahoma ITSIPs, the EPA issued interim final rules staying the effectiveness of the ITFIP in both Missouri and Oklahoma while the stays issued by the Eighth and Tenth Circuits in the ITSIP disapproval cases remain in place. During this time, both states will continue to operate under the existing CSAPR program. While Kansas was not included in the ITFIP, the EPA notes within the preamble to the ITFIP its updated 2023 modeling analysis suggesting that Kansas may be significantly contributing to one or more nonattainment or maintenance receptors. The EPA further notes that it intends to address this in a subsequent action. Due to these uncertainties, the impact on the Evergy Companies' operations and the cost to comply could be material. Particulate Matter and Ozone National Ambient Air Quality Standards In January 2023, the EPA proposed strengthening the primary annual PM 2.5 (particulate matter less than 2.5 microns in diameter) NAAQS. The EPA is proposing to lower the primary annual PM 2.5 NAAQS from 12.0 µg/m3 (micrograms per cubic meter) to a level that would be between 9.0 and 10.0 µg/m3. The EPA is also in the process of reconsidering its decision to retain each of the other Ozone NAAQS at the level set in 2015. Due to uncertainty regarding the potential lowering of the ozone and PM 2.5 NAAQS, the Evergy Companies are unable to accurately assess the impacts of these potential EPA actions on their operations or consolidated financial results, but the cost to comply with lower future ozone or PM 2.5 NAAQS could be material. Regional Haze Rule In 1999, the EPA finalized the Regional Haze Rule which aims to restore national parks and wilderness areas to pristine conditions. The rule requires states in coordination with the EPA, the National Park Service, the U.S. Fish and Wildlife Service, the U.S. Forest Service, and other interested parties to develop and implement air quality protection plans to reduce the pollution that causes visibility impairment. There are 156 "Class I" areas across the U.S. that must be restored to pristine conditions by the year 2064. There are no Class I areas in Kansas, whereas Missouri has two: the Hercules-Glades Wilderness Area and the Mingo Wilderness Area. States must submit revisions to their Regional Haze Rule SIPs every ten years and the first round was due in 2007. For the second ten-year implementation period, the EPA issued a final rule revision in 2017 that allowed states to submit their SIP revisions by July 31, 2021. The Evergy Companies have been in contact with the Kansas Department of Health and Environment (KDHE) and MDNR as they worked to draft their SIP revisions. The Missouri SIP revision does not require any additional reductions from the Evergy Companies' generating units in the state. MDNR submitted the Missouri SIP revision to the EPA in August 2022, however, they failed to do so by the EPA's revised submittal deadline of August 15, 2022. As a result, on August 30, 2022, the EPA published "finding of failure" with respect to Missouri and fourteen other states for failing to submit their Regional Haze SIP revisions by the applicable deadline. This finding of failure established a two-year deadline for the EPA to issue a Regional Haze federal implementation plan (FIP) for each state unless the state submits and the EPA approves a revised SIP that meets all applicable requirements before the EPA issues the FIP. The Kansas SIP revision was placed on public notice in June 2021 and requested no additional emission reductions by electric utilities based on the significant reductions that were achieved during the first implementation period. The EPA provided comments on the Kansas SIP revision in June 2021 that each state is statutorily required to conduct a "four-factor analysis" on at least two sources within the state to help determine if further emission reductions are necessary. The EPA also stated it would be difficult to approve the Kansas SIP revision if at least two four-factor analyses are not conducted on Kansas emission sources. KDHE submitted the Kansas SIP revision in July 2021. If a Kansas generating unit of the Evergy Companies is selected for analysis, the possibility exists that the state or the EPA, through a revised SIP or a FIP, could determine that additional operational or physical modifications are required on the generating unit to further reduce emissions. The overall cost of those modifications could be material to the Evergy Companies. In June 2023, certain parties filed suit against the EPA for failing to take final action to approve or disapprove the Regional Haze SIP Revisions submitted by Kansas and seven other states for the second planning period. Greenhouse Gases Burning coal and other fossil fuels releases carbon dioxide (CO 2 ) and other gases referred to as greenhouse gases (GHG). Various regulations under the CAA limit CO 2 and other GHG emissions, and in addition, other measures are being imposed or offered by individual states, municipalities and regional agreements with the goal of reducing GHG emissions. In May 2023, the EPA proposed GHG regulations that would apply to fossil fuel fired EGUs. The proposal would set CO 2 limitations for new gas-fired combustion turbines, existing coal, oil and gas-fired steam generating units, and certain existing gas-fired combustion turbines. The proposed CO 2 limitations assume technologies such as carbon capture and sequestration/storage (CCS), hydrogen co-firing, and natural gas co-firing will be utilized. Due to uncertainty regarding the future of the EPA's GHG regulations, the Evergy Companies cannot determine the impacts on their operations or consolidated financial results, but the cost to comply with potential GHG rules could be material. Water The Evergy Companies discharge some of the water used in generation and other operations containing substances deemed to be pollutants. A November 2015 EPA rule applicable to steam-electric power generating plants establishes effluent limitations guidelines (ELG) and standards for wastewater discharges, including limits on the amount of toxic metals and other pollutants that can be discharged. Implementation timelines for this 2015 rule vary from 2018 to 2023. In April 2019, the U.S. Court of Appeals for the Fifth Circuit issued a ruling that vacated and remanded portions of the original ELG rule. Due to this ruling, the EPA announced a plan in July 2021 to issue a proposed rule in the fall of 2022 to address the vacated limitations for legacy wastewater and landfill leachate. In March 2023, the EPA published a proposed update to the ELG to address the vacated limitations and prior reviews of the existing rule by the current administration. Flue Gas Desulfurization (FGD) wastewater, bottom ash transport wastewater, coal residual leachate, and legacy wastewater are addressed in the proposal. The Evergy Companies have reviewed the proposed modifications to limitations on FGD wastewater and bottom ash transport water and if the regulation is finalized as proposed, the Evergy Companies do not believe the impact to be material. Modifications for best available technology economically available for the discharge of coal residual leachate could be material if the rulemaking is finalized as proposed. In August 2021, based on an order issued by the U.S. District Court for the District of Arizona, which vacated and remanded the EPA's 2020 Navigable Waters Protection Rule (NWPR), the EPA and the U.S. Army Corps of Engineers (Corps) announced that they had halted implementation of the NWPR nationwide, and were interpreting "Waters of the United States" consistent with the regulatory regime that was in place prior to 2015. In December 2021, the EPA and the Department of the Army published a proposed rule that would formally repeal the NWPR and revise the definition of "Waters of the United States." In December 2022, the EPA and the Department of the Army issued a final rule establishing a definition for "Waters of the United States." The final rule was published in the Federal Register in January 2023 and took effect in March 2023. In May 2023, the United States Supreme Court (Supreme Court) issued a decision that interpreted the meaning of "Waters of the United States" under the Clean Water Act. The Supreme Court's decision impacted the January 2023 rulemaking and required the EPA and the Corps to issue a new direct final rule to conform aspects of the regulatory text to the Supreme Court ruling. This direct final rule was published and took effect in September 2023. The Evergy Companies are reviewing the Supreme Court's decision and the EPA's and the Corps' final rule. The impact on the Evergy Companies' operations or consolidated financial results are not expected to be material. Regulation of Coal Combustion Residuals In the course of operating their coal generation plants, the Evergy Companies produce coal combustion residuals (CCRs), including fly ash, gypsum and bottom ash. The EPA published a rule to regulate CCRs in April 2015 that requires additional CCR handling, processing and storage equipment and closure of certain ash disposal units. In January 2022, the EPA published proposed determinations for facilities that filed closure extensions for unlined or clay-lined CCR units. These proposed determinations include various interpretations of the CCR regulations and compliance expectations that may impact all owners of CCR units. These interpretations could require modified compliance plans such as different methods of CCR unit closure. Additionally, more stringent remediation requirements for units that are in corrective action or forced to go into corrective action are possible. In April 2022, the Utility Solid Waste Activities Group (USWAG) and other interested parties filed similar petitions in the D.C. Circuit challenging the EPA's legal positions regarding the CCR rule determinations proposed in January 2022. The cost to comply with these proposed determinations by the EPA could be material. In May 2023, the EPA published a proposed expansion to the CCR regulation focused on legacy surface impoundments. This regulation expands applicability of the 2015 CCR regulation to two newly defined types of CCR disposal units. If finalized, the Evergy Companies anticipate having additional CCR units requiring evaluation and potential remediation. The cost to comply with these proposed regulations by the EPA could be material. |
RELATED PARTY TRANSACTIONS AND
RELATED PARTY TRANSACTIONS AND RELATIONSHIPS | 9 Months Ended |
Sep. 30, 2023 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS AND RELATIONSHIPS | RELATED PARTY TRANSACTIONS AND RELATIONSHIPS In the normal course of business, Evergy Kansas Central, Evergy Metro and Evergy Missouri West engage in related party transactions with one another. A summary of these transactions and the amounts associated with them is provided below. Jointly-Owned Plants and Shared Services Employees of Evergy Kansas Central and Evergy Metro manage Evergy Missouri West's business and operate its facilities at cost, including Evergy Missouri West's 18% ownership interest in Evergy Metro's Iatan Nos. 1 and 2. Employees of Evergy Kansas Central manage JEC and operate its facilities at cost, including Evergy Missouri West's 8% ownership interest in JEC. Employees of Evergy Metro manage La Cygne Station and operate its facilities at cost, including Evergy Kansas Central's 50% interest in La Cygne Station. Employees of Evergy Metro and Evergy Kansas Central also provide one another with shared service support, including costs related to human resources, information technology, accounting and legal services. The operating expenses and capital costs billed for jointly-owned plants and shared services are detailed in the following table. Three Months Ended Year to Date 2023 2022 2023 2022 (millions) Evergy Kansas Central billings to Evergy Missouri West $ 8.0 $ 8.4 $ 24.1 $ 23.0 Evergy Metro billings to Evergy Missouri West 29.7 35.7 86.9 100.7 Evergy Kansas Central billings to Evergy Metro 10.8 10.6 33.7 24.1 Evergy Metro billings to Evergy Kansas Central 32.6 39.2 93.2 103.9 Money Pool Evergy Kansas Central, Evergy Metro and Evergy Missouri West are authorized to participate in the Evergy, Inc. money pool, which is an internal financing arrangement in which funds may be lent on a short-term basis between Evergy Kansas Central, Evergy Metro, Evergy Missouri West and Evergy, Inc. Evergy, Inc. can lend but not borrow under the money pool. As of September 30, 2023, Evergy Metro had no outstanding receivables or payables under the money pool. As of December 31, 2022, Evergy Metro had a $31.0 million outstanding receivable from Evergy Missouri West under the money pool. As of September 30, 2023 and December 31, 2022, Evergy Kansas Central had no outstanding receivables or payables under the money pool. Related Party Net Receivables and Payables The following table summarizes Evergy Kansas Central's and Evergy Metro's related party net receivables and payables. September 30 December 31 2023 2022 Evergy Kansas Central (millions) Net payable to Evergy $ (12.9) $ (12.7) Net payable to Evergy Metro (15.9) (15.7) Net receivable from Evergy Missouri West 9.3 7.4 Evergy Metro Net receivable from Evergy $ 17.4 $ 16.3 Net receivable from Evergy Kansas Central 15.9 15.7 Net receivable from Evergy Missouri West 89.4 137.5 Tax Allocation Agreement Evergy files a consolidated federal income tax return as well as unitary and combined income tax returns in several state jurisdictions with Kansas and Missouri being the most significant. Income taxes for consolidated or combined subsidiaries are allocated to the subsidiaries based on separate company computations of income or loss. The following table summarizes Evergy Kansas Central's and Evergy Metro's income taxes receivable from (payable to) Evergy. September 30 December 31 2023 2022 Evergy Kansas Central (millions) Income taxes receivable from (payable to) Evergy $ 20.2 $ (10.3) Evergy Metro Income taxes receivable from (payable to) Evergy $ (7.3) $ 0.2 |
TAXES
TAXES | 9 Months Ended |
Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
TAXES | TAXES Components of income tax expense are detailed in the following tables. Evergy Three Months Ended Year to Date 2023 2022 2023 2022 Current income taxes (millions) Federal $ (17.3) $ (4.2) $ (6.7) $ 20.8 State 8.2 6.0 20.1 7.7 Total (9.1) 1.8 13.4 28.5 Deferred income taxes Federal 25.7 50.9 38.9 55.4 State (5.9) (1.6) (14.8) 1.4 Total 19.8 49.3 24.1 56.8 Investment tax credit Deferral 2.8 — 2.8 2.7 Amortization (4.7) (1.6) (8.3) (4.9) Total (1.9) (1.6) (5.5) (2.2) Income tax expense $ 8.8 $ 49.5 $ 32.0 $ 83.1 Evergy Kansas Central Three Months Ended Year to Date 2023 2022 2023 2022 Current income taxes (millions) Federal $ (7.0) $ 22.3 $ 14.5 $ 59.1 State 3.0 3.2 7.9 2.3 Total (4.0) 25.5 22.4 61.4 Deferred income taxes Federal (1.1) (8.3) (11.8) (38.7) State (1.8) (0.6) (4.1) 1.2 Total (2.9) (8.9) (15.9) (37.5) Investment tax credit Deferral 2.9 — 2.9 2.7 Amortization (3.9) (1.1) (5.8) (3.1) Total (1.0) (1.1) (2.9) (0.4) Income tax expense (benefit) $ (7.9) $ 15.5 $ 3.6 $ 23.5 Evergy Metro Three Months Ended Year to Date 2023 2022 2023 2022 Current income taxes (millions) Federal $ 0.1 $ (22.5) $ (1.7) $ (20.0) State 3.7 2.1 8.9 3.2 Total 3.8 (20.4) 7.2 (16.8) Deferred income taxes Federal 23.0 54.3 43.5 73.9 State (2.2) (0.1) (5.8) (0.1) Total 20.8 54.2 37.7 73.8 Investment tax credit amortization (0.9) (0.6) (2.6) (1.8) Income tax expense $ 23.7 $ 33.2 $ 42.3 $ 55.2 Effective Income Tax Rates Effective income tax rates reflected in the financial statements and the reasons for their differences from the statutory federal rates are detailed in the following tables. Evergy Three Months Ended Year to Date 2023 2022 2023 2022 Federal statutory income tax 21.0 % 21.0 % 21.0 % 21.0 % COLI policies (1.8) (1.3) (1.6) (1.0) State income taxes (0.5) 0.7 (0.2) 0.7 Flow through depreciation for plant-related differences (9.9) (5.6) (8.7) (5.8) Federal tax credits (6.7) (3.7) (5.9) (3.8) Non-controlling interest (0.4) (0.3) (0.3) (0.3) AFUDC equity 0.2 (0.5) (0.2) (0.5) Amortization of federal investment tax credits (0.8) (0.2) (0.7) (0.2) Valuation allowance 1.0 — 0.6 — Stock compensation — — — (0.2) Officer compensation limitation 0.3 0.2 0.3 0.2 Other — — 0.2 (0.2) Effective income tax rate 2.4 % 10.3 % 4.5 % 9.9 % Evergy Kansas Central Three Months Ended Year to Date 2023 2022 2023 2022 Federal statutory income tax 21.0 % 21.0 % 21.0 % 21.0 % COLI policies (4.3) (2.7) (3.1) (2.0) State income taxes (2.3) 0.7 (0.5) 0.4 Flow through depreciation for plant-related differences (6.2) (3.6) (4.5) (3.9) Federal tax credits (16.3) (7.7) (11.7) (8.0) Non-controlling interest (0.9) (0.6) (0.7) (0.6) AFUDC equity 0.3 (0.7) (0.2) (0.7) Amortization of federal investment tax credits (0.8) 0.1 (0.6) 0.1 Valuation allowance 2.8 — 1.1 — Stock compensation — — — (0.2) Other 0.4 0.1 0.3 (0.3) Effective income tax rate (6.3) % 6.6 % 1.1 % 5.8 % Evergy Metro Three Months Ended Year to Date 2023 2022 2023 2022 Federal statutory income tax 21.0 % 21.0 % 21.0 % 21.0 % COLI policies (0.1) (0.1) (0.1) (0.1) State income taxes 0.6 0.7 0.7 0.6 Flow through depreciation for plant-related differences (8.7) (6.3) (8.5) (6.5) Federal tax credits (0.3) (0.1) (0.2) (0.1) AFUDC equity 0.2 (0.4) (0.3) (0.4) Amortization of federal investment tax credits (0.9) (0.5) (0.9) (0.6) Stock compensation — — 0.2 (0.2) Officer compensation limitation 0.5 0.4 0.5 0.5 Other (0.1) — (0.1) (0.1) Effective income tax rate 12.2 % 14.7 % 12.3 % 14.1 % |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Pay vs Performance Disclosure | ||||
Net Income (Loss) | $ 351.6 | $ 428.2 | $ 673.3 | $ 745.2 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Sep. 30, 2023 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
ORGANIZATION AND BASIS OF PRE_2
ORGANIZATION AND BASIS OF PRESENTATION (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation These unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, these unaudited consolidated financial statements do not include all of the information and notes required by GAAP for annual financial statements and should be read in conjunction with the consolidated financial statements in the Evergy Companies' combined 2022 Form 10-K. |
Principles of Consolidation | Principles of Consolidation Each of Evergy's, Evergy Kansas Central's and Evergy Metro's unaudited consolidated financial statements includes the accounts of their subsidiaries and the variable interest entity (VIE) of which Evergy and Evergy Kansas Central are the primary beneficiary. Undivided interests in jointly-owned generation facilities are included on a proportionate basis. Intercompany transactions have been eliminated. The Evergy Companies assess financial performance and allocate resources on a consolidated basis (i.e., operate in one segment). |
Fuel Inventory and Supplies | Fuel Inventory and SuppliesThe Evergy Companies record fuel inventory and supplies at average cost. |
Earnings Per Share | Earnings Per Share To compute basic earnings per share (EPS), Evergy divides net income attributable to Evergy, Inc. by the weighted average number of common shares outstanding. Diluted EPS includes the effect of issuable common shares resulting from restricted share units (RSUs), restricted stock and a warrant. Evergy computes the dilutive effects of potential issuances of common shares using the treasury stock method or the contingently issuable share method, as applicable. |
ORGANIZATION AND BASIS OF PRE_3
ORGANIZATION AND BASIS OF PRESENTATION (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Schedule of Fuel Inventory and Supplies | The Evergy Companies record fuel inventory and supplies at average cost. The following table separately states the balances for fuel inventory and supplies. September 30 December 31 Evergy (millions) Fuel inventory $ 237.4 $ 180.7 Supplies 502.5 492.2 Fuel inventory and supplies $ 739.9 $ 672.9 Evergy Kansas Central Fuel inventory $ 134.7 $ 97.2 Supplies 261.2 252.3 Fuel inventory and supplies $ 395.9 $ 349.5 Evergy Metro Fuel inventory $ 68.6 $ 59.0 Supplies 177.8 181.6 Fuel inventory and supplies $ 246.4 $ 240.6 |
Summary of Property, Plant and Equipment | The following tables summarize the property, plant and equipment of Evergy, Evergy Kansas Central and Evergy Metro. September 30, 2023 Evergy Evergy Kansas Central Evergy Metro (millions) Electric plant in service $ 33,693.3 $ 16,236.7 $ 12,879.4 Electric plant acquisition adjustment 724.9 724.9 — Accumulated depreciation (12,856.9) (6,157.1) (5,325.7) Plant in service, net 21,561.3 10,804.5 7,553.7 Construction work in progress 1,403.6 848.9 377.8 Nuclear fuel, net 175.7 87.3 88.4 Plant to be retired, net (a) 0.8 0.8 — Property, plant and equipment, net $ 23,141.4 $ 11,741.5 $ 8,019.9 December 31, 2022 Evergy Evergy Kansas Central Evergy Metro (millions) Electric plant in service $ 32,129.3 $ 15,376.9 $ 12,343.3 Electric plant acquisition adjustment 724.3 724.3 — Accumulated depreciation (12,304.9) (5,922.9) (5,065.3) Plant in service, net 20,548.7 10,178.3 7,278.0 Construction work in progress 1,421.2 819.5 482.6 Nuclear fuel, net 165.8 82.2 83.6 Plant to be retired, net (a) 0.8 0.8 — Property, plant and equipment, net $ 22,136.5 $ 11,080.8 $ 7,844.2 (a) As of September 30, 2023 and December 31, 2022, represents the planned retirement of Evergy Kansas Central analog meters prior to the end of their remaining useful lives. |
Schedule of Other Nonoperating Income (Expense) | The table below shows the detail of other expense for each of the Evergy Companies. Three Months Ended Year to Date 2023 2022 2023 2022 Evergy (millions) Non-service cost component of net benefit cost $ (6.4) $ (10.2) $ (37.2) $ (46.5) Other (6.4) (6.5) (17.9) (18.0) Other expense $ (12.8) $ (16.7) $ (55.1) $ (64.5) Evergy Kansas Central Non-service cost component of net benefit cost $ (4.5) $ (4.2) $ (12.7) $ (13.6) Other (5.7) (6.3) (16.1) (16.2) Other expense $ (10.2) $ (10.5) $ (28.8) $ (29.8) Evergy Metro Non-service cost component of net benefit cost $ (0.1) $ (2.2) $ (18.0) $ (21.8) Other (0.4) (0.3) (1.3) (1.3) Other expense $ (0.5) $ (2.5) $ (19.3) $ (23.1) |
Schedule of Earnings Per Share, Basic and Diluted | The following table reconciles Evergy's basic and diluted EPS. Three Months Ended Year to Date 2023 2022 2023 2022 Income (millions, except per share amounts) Net income $ 354.6 $ 431.2 $ 682.5 $ 754.4 Less: net income attributable to noncontrolling interests 3.0 3.0 9.2 9.2 Net income attributable to Evergy, Inc. $ 351.6 $ 428.2 $ 673.3 $ 745.2 Common Shares Outstanding Weighted average number of common shares outstanding - basic 230.1 229.9 230.0 229.9 Add: effect of dilutive securities 0.4 0.7 0.5 0.6 Diluted average number of common shares outstanding 230.5 230.6 230.5 230.5 Basic EPS $ 1.53 $ 1.86 $ 2.93 $ 3.24 Diluted EPS $ 1.53 $ 1.86 $ 2.92 $ 3.23 |
Supplemental Cash Flow Information | Supplemental Cash Flow Information Evergy Year to Date September 30 2023 2022 Cash paid for (received from): (millions) Interest, net of amount capitalized $ 370.3 $ 305.5 Income taxes, net of refunds 19.0 8.0 Right-of-use assets obtained in exchange for new operating lease liabilities 12.1 8.2 Right-of-use assets obtained in exchange for new finance lease liabilities 3.7 7.0 Non-cash investing transactions: Property, plant and equipment additions 171.4 128.6 Evergy Kansas Central Year to Date September 30 2023 2022 Cash paid for (received from): (millions) Interest, net of amount capitalized $ 149.4 $ 130.9 Income taxes, net of refunds 53.0 43.1 Right-of-use assets obtained in exchange for new operating lease liabilities 6.4 8.0 Right-of-use assets obtained in exchange for new finance lease liabilities 3.7 7.0 Non-cash investing transactions: Property, plant and equipment additions 85.1 51.7 Evergy Metro Year to Date September 30 2023 2022 Cash paid for (received from): (millions) Interest, net of amount capitalized $ 82.2 $ 84.3 Income taxes, net of refunds (0.4) (0.4) Right-of-use assets obtained in exchange for new operating lease liabilities 5.1 0.2 Non-cash investing transactions: Property, plant and equipment additions 65.4 53.7 |
REVENUE (Tables)
REVENUE (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | Evergy's, Evergy Kansas Central's and Evergy Metro's revenues disaggregated by customer class are summarized in the following tables. Evergy Three Months Ended Year to Date 2023 2022 2023 2022 Revenues (millions) Residential $ 675.1 $ 746.6 $ 1,626.4 $ 1,711.8 Commercial 528.6 583.7 1,419.3 1,452.3 Industrial 158.9 197.2 475.3 517.6 Other retail 11.6 (39.0) 31.8 (20.2) Total electric retail $ 1,374.2 $ 1,488.5 $ 3,552.8 $ 3,661.5 Wholesale 148.3 250.6 301.8 382.0 Transmission 101.9 101.3 308.2 300.3 Industrial steam and other 7.1 6.3 24.6 17.0 Total revenue from contracts with customers $ 1,631.5 $ 1,846.7 $ 4,187.4 $ 4,360.8 Other 37.8 62.4 132.9 218.7 Operating revenues $ 1,669.3 $ 1,909.1 $ 4,320.3 $ 4,579.5 Evergy's other retail electric revenues for the three months ended and year to date September 30, 2022, include a $47.5 million deferral of revenues to a regulatory liability for the refund of amounts collected from customers since December 2018 for the return on investment of the retired Sibley Station. Evergy Kansas Central Three Months Ended Year to Date 2023 2022 2023 2022 Revenues (millions) Residential $ 262.9 $ 343.1 $ 647.3 $ 762.0 Commercial 196.5 267.0 555.3 625.9 Industrial 93.4 134.0 300.1 346.7 Other retail 5.7 4.6 12.5 13.2 Total electric retail $ 558.5 $ 748.7 $ 1,515.2 $ 1,747.8 Wholesale 106.3 156.9 232.7 288.4 Transmission 97.6 91.2 294.8 269.8 Other 0.4 0.4 2.1 1.6 Total revenue from contracts with customers $ 762.8 $ 997.2 $ 2,044.8 $ 2,307.6 Other 10.5 24.2 46.7 51.7 Operating revenues $ 773.3 $ 1,021.4 $ 2,091.5 $ 2,359.3 Evergy Metro Three Months Ended Year to Date 2023 2022 2023 2022 Revenues (millions) Residential $ 259.9 $ 255.9 $ 603.9 $ 600.7 Commercial 232.9 222.0 606.1 589.7 Industrial 37.2 36.6 100.6 98.8 Other retail 3.4 3.0 9.5 8.6 Total electric retail $ 533.4 $ 517.5 $ 1,320.1 $ 1,297.8 Wholesale 43.4 81.4 80.7 86.6 Transmission 3.7 4.6 10.8 14.4 Other 0.9 0.6 3.3 — Total revenue from contracts with customers $ 581.4 $ 604.1 $ 1,414.9 $ 1,398.8 Other 26.8 37.7 85.0 165.6 Operating revenues $ 608.2 $ 641.8 $ 1,499.9 $ 1,564.4 |
RECEIVABLES (Tables)
RECEIVABLES (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Receivables [Abstract] | |
Schedule of Receivables | The Evergy Companies' receivables are detailed in the following table. September 30 December 31 2023 2022 Evergy (millions) Customer accounts receivable - billed $ 15.7 $ 8.9 Customer accounts receivable - unbilled 191.4 136.9 Other receivables 144.5 200.9 Allowance for credit losses (21.5) (31.4) Total $ 330.1 $ 315.3 Evergy Kansas Central Customer accounts receivable - billed $ — $ — Customer accounts receivable - unbilled 66.6 71.4 Other receivables 141.9 194.9 Allowance for credit losses (9.9) (16.9) Total $ 198.6 $ 249.4 Evergy Metro Customer accounts receivable - billed $ — $ — Customer accounts receivable - unbilled 81.0 25.5 Other receivables 15.8 21.6 Allowance for credit losses (7.2) (9.3) Total $ 89.6 $ 37.8 September 30 December 31 2023 2022 (millions) Evergy $ 70.6 $ 113.0 Evergy Kansas Central 67.4 110.8 Evergy Metro 2.1 1.3 September 30 December 31 2023 2022 (millions) Evergy $ 395.0 $ 359.0 Evergy Kansas Central 200.0 185.0 Evergy Metro 130.0 124.0 |
Summary of Bad Debt Expense | The change in the Evergy Companies' allowance for credit losses is summarized in the following table. 2023 2022 Evergy (millions) Beginning balance January 1 $ 31.4 $ 32.9 Credit loss expense 7.4 4.9 Write-offs (25.2) (21.6) Recoveries of prior write-offs 7.9 8.5 Ending balance September 30 $ 21.5 $ 24.7 Evergy Kansas Central Beginning balance January 1 $ 16.9 $ 13.0 Credit loss expense 3.1 5.4 Write-offs (13.6) (10.1) Recoveries of prior write-offs 3.5 3.4 Ending balance September 30 $ 9.9 $ 11.7 Evergy Metro Beginning balance January 1 $ 9.3 $ 13.3 Credit loss expense (income) 2.7 (0.4) Write-offs (7.8) (7.8) Recoveries of prior write-offs 3.0 3.5 Ending balance September 30 $ 7.2 $ 8.6 |
PENSION PLANS AND POST-RETIRE_2
PENSION PLANS AND POST-RETIREMENT BENEFITS (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Retirement Benefits [Abstract] | |
Schedule of Net Benefit Costs | The following tables provide the components of net periodic benefit costs prior to the effects of capitalization and sharing with joint owners of power plants. Pension Benefits Post-Retirement Benefits Three Months Ended September 30, 2023 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 11.4 $ 4.7 $ 6.7 $ 0.5 $ 0.2 $ 0.3 Interest cost 22.9 11.6 11.0 2.7 1.6 1.4 Expected return on plan assets (21.9) (11.0) (10.9) (2.9) (1.7) (1.4) Prior service cost 0.4 0.5 — — — (0.1) Recognized net actuarial gain (4.8) (0.3) (4.3) (1.1) (0.5) (0.6) Settlement charges (credits) (1.7) 0.4 (2.1) — — — Net periodic benefit costs before regulatory adjustment and intercompany allocations 6.3 5.9 0.4 (0.8) (0.4) (0.4) Regulatory adjustment 14.4 6.8 7.3 (0.2) (0.6) 0.5 Intercompany allocations — (0.5) (0.3) — 0.1 — Net periodic benefit costs (income) $ 20.7 $ 12.2 $ 7.4 $ (1.0) $ (0.9) $ 0.1 Pension Benefits Post-Retirement Benefits Year to Date September 30, 2023 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 34.6 $ 14.3 $ 20.3 $ 1.4 $ 0.7 $ 0.7 Interest cost 68.3 34.8 32.7 8.3 4.3 4.1 Expected return on plan assets (65.8) (33.2) (32.6) (8.9) (4.7) (4.2) Prior service cost 1.4 1.5 — — — (0.3) Recognized net actuarial gain (14.3) (1.0) (12.7) (3.2) (1.5) (1.6) Settlement charges (credits) (19.6) 1.0 (20.6) — — — Net periodic benefit costs before regulatory adjustment and intercompany allocations 4.6 17.4 (12.9) (2.4) (1.2) (1.3) Regulatory adjustment 69.9 21.1 48.3 (0.5) (1.8) 1.5 Intercompany allocations — (1.6) (0.8) — 0.2 — Net periodic benefit costs (income) $ 74.5 $ 36.9 $ 34.6 $ (2.9) $ (2.8) $ 0.2 Pension Benefits Post-Retirement Benefits Three Months Ended September 30, 2022 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 19.9 $ 7.7 $ 12.2 $ 0.8 $ 0.4 $ 0.4 Interest cost 19.9 9.6 9.9 1.9 1.0 1.0 Expected return on plan assets (26.0) (12.8) (14.1) (2.5) (1.7) (0.9) Prior service cost 0.5 0.5 — 0.2 0.1 (0.4) Recognized net actuarial (gain)/loss 8.6 6.4 9.7 (0.2) — (0.3) Net periodic benefit costs before regulatory adjustment and intercompany allocations 22.9 11.4 17.7 0.2 (0.2) (0.2) Regulatory adjustment 8.1 2.2 (0.6) (0.7) (0.7) 0.5 Intercompany allocations — 1.7 (5.1) — 0.1 (0.2) Net periodic benefit costs (income) $ 31.0 $ 15.3 $ 12.0 $ (0.5) $ (0.8) $ 0.1 Pension Benefits Post-Retirement Benefits Year to Date September 30, 2022 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 59.8 $ 23.1 $ 36.7 $ 2.3 $ 1.2 $ 1.1 Interest cost 59.5 29.0 29.8 5.9 3.0 2.9 Expected return on plan assets (78.0) (38.4) (42.3) (7.6) (4.9) (2.8) Prior service cost 1.4 1.5 — 0.4 0.3 (1.1) Recognized net actuarial (gain)/loss 26.1 19.2 29.0 (0.3) (0.1) (0.5) Net periodic benefit costs before regulatory adjustment and intercompany allocations 68.8 34.4 53.2 0.7 (0.5) (0.4) Regulatory adjustment 39.0 7.9 11.6 (1.9) (2.1) 1.8 Intercompany allocations — 2.1 (13.5) — 0.2 (0.5) Net periodic benefit costs (income) $ 107.8 $ 44.4 $ 51.3 $ (1.2) $ (2.4) $ 0.9 |
SHORT-TERM BORROWINGS AND SHO_2
SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Debt Disclosure [Abstract] | |
Schedule of Short-term Debt | The following table summarizes the committed credit facilities (excluding receivable sale facilities discussed in Note 3) available to the Evergy Companies as of September 30, 2023 and December 31, 2022. Amounts Drawn Master Credit Facility Commercial Paper Letters of Credit Cash Borrowings Available Borrowings Weighted Average Interest Rate on Short-Term Borrowings September 30, 2023 (millions) Evergy, Inc. $ 300.0 $ 112.9 $ 0.7 $ — $ 186.4 5.50% Evergy Kansas Central 850.0 660.2 1.0 — 188.8 5.55% Evergy Metro 650.0 331.8 — — 318.2 5.46% Evergy Missouri West 700.0 573.5 — — 126.5 5.54% Evergy $ 2,500.0 $ 1,678.4 $ 1.7 $ — $ 819.9 December 31, 2022 Evergy, Inc. $ 450.0 $ — $ 0.7 $ — $ 449.3 —% Evergy Kansas Central 1,000.0 772.1 — — 227.9 4.91% Evergy Metro 350.0 111.0 — — 239.0 5.02% Evergy Missouri West 700.0 449.2 — — 250.8 4.84% Evergy $ 2,500.0 $ 1,332.3 $ 0.7 $ — $ 1,167.0 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | The gross notional contract amount by commodity type for derivative instruments is summarized in the following table. September 30 December 31 Non-hedging derivatives Notional volume unit of measure 2023 2022 Evergy (millions) Commodity contracts Power MWhs 79.8 67.2 Natural gas MMBtu 236.2 772.7 Evergy Kansas Central Commodity contracts Power MWhs 47.3 41.6 Natural gas MMBtu 234.3 769.6 Evergy Metro Commodity contracts Power MWhs 23.8 18.2 |
Fair value of open derivative positions, gross values before netting agreements and netting of cash collateral [Table Text Block] | The fair values of Evergy's open derivative positions and balance sheet classifications are summarized in the following tables. The fair values below are gross values before netting agreements and netting of cash collateral. September 30 December 31 Evergy 2023 2022 Non-hedging derivatives Balance sheet location Commodity contracts (millions) Power Other assets - current $ 29.3 $ 41.6 Other assets - long-term 37.2 65.6 Natural gas Other assets - current 11.1 221.0 Other assets - long-term 1.6 1.6 Total derivative assets $ 79.2 $ 329.8 Commodity contracts Power Other liabilities - current $ 21.9 $ 41.0 Other liabilities - long-term 34.2 61.5 Natural gas Other liabilities - current 11.0 218.8 Other liabilities - long-term 1.6 1.6 Total derivative liabilities $ 68.7 $ 322.9 September 30 December 31 Evergy Kansas Central 2023 2022 Non-hedging derivatives Balance sheet location Commodity contracts (millions) Power Other assets - current $ 21.7 $ 36.7 Other assets - long-term 37.2 65.6 Natural gas Other assets - current 11.1 221.0 Other assets - long-term 1.6 1.6 Total derivative assets $ 71.6 $ 324.9 Commodity contracts Power Other liabilities - current $ 16.1 $ 35.6 Other liabilities - long-term 34.2 61.5 Natural gas Other liabilities - current 10.7 215.1 Other liabilities - long-term 1.6 1.6 Total derivative liabilities $ 62.6 $ 313.8 September 30 December 31 Evergy Metro 2023 2022 Non-hedging derivatives Balance sheet location Commodity contracts (millions) Power Other assets - current $ 3.0 $ 3.5 Total derivative assets $ 3.0 $ 3.5 Commodity contracts Power Other liabilities - current $ 4.9 $ 4.1 Total derivative liabilities $ 4.9 $ 4.1 |
Offsetting Derivative Assets and Liabilities [Table Text Block] | The following tables present the line items on the Evergy Companies' consolidated balance sheets where derivative assets and liabilities are reported. The gross amounts offset in the tables below show the effect of master netting arrangements and include collateral posted to offset the net position. September 30, 2023 Evergy Evergy Kansas Central Evergy Metro Derivative Assets (millions) Current Gross amounts recognized $ 40.4 $ 32.8 $ 3.0 Gross amounts offset (21.4) (17.6) (3.0) Net amounts presented in other assets - current $ 19.0 $ 15.2 $ — Long-Term Gross amounts recognized $ 38.8 $ 38.8 $ — Gross amounts offset (9.3) (9.3) — Net amounts presented in other assets - long-term $ 29.5 $ 29.5 $ — Derivative Liabilities Current Gross amounts recognized $ 32.9 $ 26.8 $ 4.9 Gross amounts offset (20.3) (16.4) (3.0) Net amounts presented in other liabilities - current $ 12.6 $ 10.4 $ 1.9 Long-Term Gross amounts recognized $ 35.8 $ 35.8 $ — Gross amounts offset (4.2) (4.2) — Net amounts presented in other liabilities - long-term $ 31.6 $ 31.6 $ — December 31, 2022 Evergy Evergy Kansas Central Evergy Metro Derivative Assets (millions) Current Gross amounts recognized $ 262.6 $ 257.7 $ 3.5 Gross amounts offset (237.4) (232.9) (3.5) Net amounts presented in other assets - current $ 25.2 $ 24.8 $ — Long-Term Gross amounts recognized $ 67.2 $ 67.2 $ — Gross amounts offset (42.1) (42.1) — Net amounts presented in other assets - long-term $ 25.1 $ 25.1 $ — Derivative Liabilities Current Gross amounts recognized $ 259.8 $ 250.7 $ 4.1 Gross amounts offset (234.0) (229.4) (3.5) Net amounts presented in other liabilities - current $ 25.8 $ 21.3 $ 0.6 Long-Term Gross amounts recognized $ 63.1 $ 63.1 $ — Gross amounts offset (36.4) (36.4) — Net amounts presented in other liabilities - long-term $ 26.7 $ 26.7 $ — |
Derivative Instruments, Gain (Loss) [Table Text Block] | The following table summarizes the amounts of gain (loss) recognized in income for the change in fair value of derivatives not designated as hedging instruments for the Evergy Companies. Three Months Ended Year to Date Location of gain (loss) Contract type 2023 2022 2023 2022 Evergy (millions) Operating revenues Commodity $ 2.7 $ 38.4 $ 20.3 $ 65.6 Total $ 2.7 $ 38.4 $ 20.3 $ 65.6 Evergy Kansas Central Operating revenues Commodity $ 2.7 $ 38.4 $ 20.3 $ 65.6 Total $ 2.7 $ 38.4 $ 20.3 $ 65.6 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Schedule of Carrying Value and Fair Value of Debt Instruments | The book value and fair value of the Evergy Companies' long-term debt are summarized in the following table. September 30, 2023 December 31, 2022 Book Value Fair Value Book Value Fair Value Long-term debt (a) (millions) Evergy (b) $ 10,187.0 $ 8,695.6 $ 10,344.8 $ 9,160.0 Evergy Kansas Central 4,282.4 3,551.1 3,936.9 3,389.4 Evergy Metro 2,925.2 2,567.4 2,926.6 2,661.7 (a) Includes current maturities. (b) Book value as of September 30, 2023 and December 31, 2022, includes $88.4 million and $92.1 million, respectively, of fair value adjustments recorded in connection with purchase accounting for the Great Plains Energy and Evergy Kansas Central merger, which are not part of future principal payments and will amortize over the remaining life of the associated debt instrument. |
Schedule of Fair Value of Assets and Liabilities | The following tables include balances of financial assets and liabilities measured at fair value on a recurring basis. Description September 30, 2023 Netting Level 1 Level 2 Level 3 NAV Evergy Kansas Central (millions) Assets Nuclear decommissioning trust (a) Domestic equity funds $ 128.3 $ — $ 117.8 $ — $ — $ 10.5 International equity funds 68.1 — 68.1 — — — Core bond fund 53.2 — 53.2 — — — High-yield bond fund 27.9 — 27.9 — — — Emerging markets bond fund 17.2 — 17.2 — — — Alternative investments fund 35.1 — — — — 35.1 Real estate securities fund 17.3 — — — — 17.3 Cash equivalents 0.5 — 0.5 — — — Total nuclear decommissioning trust 347.6 — 284.7 — — 62.9 Rabbi trust Fixed income funds 14.3 — 14.3 — — — Equity funds 6.9 — 6.9 — — — Combination debt/equity/other fund 1.7 — 1.7 — — — Cash equivalents 0.2 — 0.2 — — — Total rabbi trust 23.1 — 23.1 — — — Derivative instruments - commodity contracts (b) Power 42.7 (16.2) 17.8 33.2 7.9 — Natural gas 2.0 (10.7) 12.5 0.2 — — Total derivative assets 44.7 (26.9) 30.3 33.4 7.9 — Total assets 415.4 (26.9) 338.1 33.4 7.9 62.9 Liabilities Derivative instruments - commodity contracts (b) Power 40.4 (9.9) 9.4 36.6 4.3 — Natural gas 1.6 (10.7) 12.3 — — — Total derivative liabilities 42.0 (20.6) 21.7 36.6 4.3 — Total liabilities $ 42.0 $ (20.6) $ 21.7 $ 36.6 $ 4.3 $ — Evergy Metro Assets Nuclear decommissioning trust (a) Equity securities $ 271.8 $ — $ 271.8 $ — $ — $ — Debt securities U.S. Treasury 44.8 — 44.8 — — — State and local obligations 3.6 — — 3.6 — — Corporate bonds 40.6 — — 40.6 — — Foreign governments 0.1 — — 0.1 — — Cash equivalents 2.7 — 2.7 — — — Total nuclear decommissioning trust 363.6 — 319.3 44.3 — — Self-insured health plan trust (c) Equity securities 1.7 — 1.7 — — — Debt securities 8.3 — 2.1 6.2 — — Cash and cash equivalents 3.9 — 3.9 — — — Total self-insured health plan trust 13.9 — 7.7 6.2 — — Derivative instruments - commodity contracts (b) Power — (3.0) — — 3.0 — Total derivative assets — (3.0) — — 3.0 — Total assets 377.5 (3.0) 327.0 50.5 3.0 — Liabilities Derivative instruments - commodity contracts (b) Power 1.9 (3.0) — — 4.9 — Total derivative liabilities 1.9 (3.0) — — 4.9 — Total liabilities $ 1.9 $ (3.0) $ — $ — $ 4.9 $ — Description September 30, 2023 Netting Level 1 Level 2 Level 3 NAV Other Evergy (millions) Assets Rabbi trusts Core bond fund $ 8.4 $ — $ 8.4 $ — $ — $ — Total rabbi trusts 8.4 — 8.4 — — — Derivative instruments - commodity contracts (b) Power 3.8 (0.8) — — 4.6 — Total derivative assets 3.8 (0.8) — — 4.6 — Total assets 12.2 (0.8) 8.4 — 4.6 — Liabilities Derivative instruments Power — (0.9) — — 0.9 — Natural gas 0.3 — — 0.3 — — Total derivative liabilities 0.3 (0.9) — 0.3 0.9 — Total liabilities $ 0.3 (0.9) $ — $ 0.3 $ 0.9 $ — Evergy Assets Nuclear decommissioning trust (a) $ 711.2 $ — $ 604.0 $ 44.3 $ — $ 62.9 Rabbi trusts 31.5 — 31.5 — — — Self-insured health plan trust (c) 13.9 — 7.7 6.2 — — Derivative instruments - commodity contracts (b) Power 46.5 (20.0) 17.8 33.2 15.5 — Natural gas 2.0 (10.7) 12.5 0.2 — — Total derivative assets 48.5 (30.7) 30.3 33.4 15.5 — Total assets 805.1 (30.7) 673.5 83.9 15.5 62.9 Liabilities Derivative instruments - commodity contracts (b) Power 42.3 (13.8) 9.4 36.6 10.1 — Natural gas 1.9 (10.7) 12.3 0.3 — — Total derivative liabilities 44.2 (24.5) 21.7 36.9 10.1 — Total liabilities $ 44.2 $ (24.5) $ 21.7 $ 36.9 $ 10.1 $ — Description December 31, 2022 Netting Level 1 Level 2 Level 3 NAV Evergy Kansas Central (millions) Assets Nuclear decommissioning trust (a) Domestic equity funds $ 112.5 $ — $ 100.4 $ — $ — $ 12.1 International equity funds 62.9 — 62.9 — — — Core bond fund 51.0 — 51.0 — — — High-yield bond fund 25.3 — 25.3 — — — Emerging markets bond fund 16.0 — 16.0 — — — Alternative investments fund 31.8 — — — — 31.8 Real estate securities fund 18.9 — — — — 18.9 Cash equivalents 0.4 — 0.4 — — — Total nuclear decommissioning trust 318.8 — 256.0 — — 62.8 Rabbi trust Fixed income funds 15.6 — 15.6 — — — Equity funds 7.3 — 7.3 — — — Combination debt/equity/other fund 1.9 — 1.9 — — — Cash equivalents 0.1 — 0.1 — — — Total rabbi trust 24.9 — 24.9 — — — Derivative instruments - commodity contracts (b) Power 42.6 (59.7) 45.5 46.5 10.3 — Natural gas 7.3 (215.3) 222.5 0.1 — — Total derivative assets 49.9 (275.0) 268.0 46.6 10.3 — Total assets 393.6 (275.0) 548.9 46.6 10.3 62.8 Liabilities Derivative instruments - commodity contracts (b) Power 46.6 (50.5) 34.0 55.9 7.2 — Natural gas 1.4 (215.3) 216.6 0.1 — — Total derivative liabilities 48.0 (265.8) 250.6 56.0 7.2 — Total liabilities $ 48.0 $ (265.8) $ 250.6 $ 56.0 $ 7.2 $ — Evergy Metro Assets Nuclear decommissioning trust (a) Equity securities $ 243.4 $ — $ 243.4 $ — $ — $ — Debt securities U.S. Treasury 40.7 — 40.7 — — — U.S. Agency 0.4 — 0.4 — — — State and local obligations 4.2 — — 4.2 — — Corporate bonds 39.1 — — 39.1 — — Foreign governments 0.1 — — 0.1 — — Cash equivalents 6.6 — 6.6 — — — Total nuclear decommissioning trust 334.5 — 291.1 43.4 — — Self-insured health plan trust (c) Equity securities 1.6 — 1.6 — — — Debt securities 8.0 — 2.5 5.5 — — Cash and cash equivalents 1.6 — 1.6 — — — Total self-insured health plan trust 11.2 — 5.7 5.5 — — Derivative instruments - commodity contracts (b) Power — (3.5) — — 3.5 — Total derivative assets — (3.5) — — 3.5 — Total assets 345.7 (3.5) 296.8 48.9 3.5 — Liabilities Derivative instruments - commodity contracts (b) Power 0.6 (3.5) — — 4.1 — Total derivative liabilities 0.6 (3.5) — — 4.1 — Total liabilities $ 0.6 $ (3.5) $ — $ — $ 4.1 $ — Description December 31, 2022 Netting Level 1 Level 2 Level 3 NAV Other Evergy (millions) Assets Rabbi trusts Core bond fund $ 9.2 $ — $ 9.2 $ — $ — $ — Total rabbi trusts 9.2 — 9.2 — — — Derivative instruments - commodity contracts (b) Power 0.4 (1.0) — — 1.4 — Total derivative assets 0.4 (1.0) — — 1.4 — Total assets 9.6 (1.0) 9.2 — 1.4 — Liabilities Derivative instruments - commodity contracts (b) Power 0.2 (1.1) 0.2 — 1.1 — Natural gas 3.7 — — 3.7 — — Total derivative liabilities 3.9 (1.1) 0.2 3.7 1.1 — Total liabilities $ 3.9 $ (1.1) $ 0.2 $ 3.7 $ 1.1 $ — Evergy Assets Nuclear decommissioning trust (a) $ 653.3 $ — $ 547.1 $ 43.4 $ — $ 62.8 Rabbi trusts 34.1 — 34.1 — — — Self-insured health plan trust (c) 11.2 — 5.7 5.5 — — Derivative instruments - commodity contracts (b) Power 43.0 (64.2) 45.5 46.5 15.2 — Natural gas 7.3 (215.3) 222.5 0.1 — — Total derivative assets 50.3 (279.5) 268.0 46.6 15.2 — Total assets 748.9 (279.5) 854.9 95.5 15.2 62.8 Liabilities Derivative instruments - commodity contracts (b) Power 47.4 (55.1) 34.2 55.9 12.4 — Natural gas 5.1 (215.3) 216.6 3.8 — — Total derivative liabilities 52.5 (270.4) 250.8 59.7 12.4 — Total liabilities $ 52.5 $ (270.4) $ 250.8 $ 59.7 $ 12.4 $ — (a) With the exception of investments measured at NAV, fair value is based on quoted market prices of the investments held by the trust and/or valuation models. (b) Derivative instruments classified as Level 1 consist of exchange-traded derivative instruments with fair value based on quoted market prices. Derivative instruments classified as Level 2 consist of non-exchange traded derivative instruments with observable forward curves and option contracts priced with models using observable inputs. Derivative instruments classified as Level 3 consist of non-exchange traded derivative instruments for which observable market data is not available to corroborate the valuation inputs and TCRs valued at the most recent auction price in the SPP Integrated Marketplace. (c) Fair value is based on quoted market prices of the investments held by the trust. Debt securities classified as Level 1 are comprised of U.S. Treasury securities. Debt securities classified as Level 2 are comprised of corporate bonds, U.S. Agency, state and local obligations, and other asset-backed securities. |
Schedule of Fair Value Investments, Entities that Calculate NAV | The following table provides additional information on these Evergy and Evergy Kansas Central investments. September 30, 2023 December 31, 2022 September 30, 2023 Fair Unfunded Fair Unfunded Redemption Length of Value Commitments Value Commitments Frequency Settlement Evergy Kansas Central (millions) Nuclear decommissioning trust: Domestic equity funds $ 10.5 $ 1.5 $ 12.1 $ 1.5 (a) (a) Alternative investments fund (b) 35.1 — 31.8 — Quarterly 65 days Real estate securities fund (b) 17.3 — 18.9 — Quarterly 65 days Total Evergy investments at NAV $ 62.9 $ 1.5 $ 62.8 $ 1.5 (a) This investment is in five long-term private equity funds that do not permit early withdrawal. Investments in these funds cannot be distributed until the underlying investments have been liquidated, which may take years from the date of initial liquidation. Three funds have begun to make distributions. The initial investment in the fourth and fifth funds occurred in 2016 and 2018, respectively. The fourth fund's term is 15 years, subject to the general partner's right to extend the term for up to three additional one-year periods. The fifth fund's term is 15 years, subject to additional extensions approved by a fund advisory committee to provide for an orderly liquidation of fund investments and dissolution of the fund. |
Schedule of Fair Value Recurring Gain (Loss) Included in Earnings | The following table summarizes the net unrealized gains (losses) for the Evergy Companies' nuclear decommissioning trusts and rabbi trusts. Three Months Ended Year to Date 2023 2022 2023 2022 Evergy (millions) Nuclear decommissioning trust - equity securities $ (8.3) $ (74.3) $ 46.4 $ (145.9) Nuclear decommissioning trust - debt securities (3.4) (5.9) (2.6) (16.0) Rabbi trusts - equity securities (1.1) (2.1) 0.6 (7.8) Total $ (12.8) $ (82.3) $ 44.4 $ (169.7) Evergy Kansas Central Nuclear decommissioning trust - equity securities $ 1.4 $ (37.1) $ 23.4 $ (67.2) Rabbi trust - equity securities (0.7) (1.4) 0.8 (5.6) Total $ 0.7 $ (38.5) $ 24.2 $ (72.8) Evergy Metro Nuclear decommissioning trust - equity securities $ (9.7) $ (37.2) $ 23.0 $ (78.7) Nuclear decommissioning trust - debt securities (3.4) (5.9) (2.6) (16.0) Total $ (13.1) $ (43.1) $ 20.4 $ (94.7) |
RELATED PARTY TRANSACTIONS AN_2
RELATED PARTY TRANSACTIONS AND RELATIONSHIPS (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Receivables and Payables | The operating expenses and capital costs billed for jointly-owned plants and shared services are detailed in the following table. Three Months Ended Year to Date 2023 2022 2023 2022 (millions) Evergy Kansas Central billings to Evergy Missouri West $ 8.0 $ 8.4 $ 24.1 $ 23.0 Evergy Metro billings to Evergy Missouri West 29.7 35.7 86.9 100.7 Evergy Kansas Central billings to Evergy Metro 10.8 10.6 33.7 24.1 Evergy Metro billings to Evergy Kansas Central 32.6 39.2 93.2 103.9 The following table summarizes Evergy Kansas Central's and Evergy Metro's related party net receivables and payables. September 30 December 31 2023 2022 Evergy Kansas Central (millions) Net payable to Evergy $ (12.9) $ (12.7) Net payable to Evergy Metro (15.9) (15.7) Net receivable from Evergy Missouri West 9.3 7.4 Evergy Metro Net receivable from Evergy $ 17.4 $ 16.3 Net receivable from Evergy Kansas Central 15.9 15.7 Net receivable from Evergy Missouri West 89.4 137.5 September 30 December 31 2023 2022 Evergy Kansas Central (millions) Income taxes receivable from (payable to) Evergy $ 20.2 $ (10.3) Evergy Metro Income taxes receivable from (payable to) Evergy $ (7.3) $ 0.2 |
TAXES (Tables)
TAXES (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | Components of income tax expense are detailed in the following tables. Evergy Three Months Ended Year to Date 2023 2022 2023 2022 Current income taxes (millions) Federal $ (17.3) $ (4.2) $ (6.7) $ 20.8 State 8.2 6.0 20.1 7.7 Total (9.1) 1.8 13.4 28.5 Deferred income taxes Federal 25.7 50.9 38.9 55.4 State (5.9) (1.6) (14.8) 1.4 Total 19.8 49.3 24.1 56.8 Investment tax credit Deferral 2.8 — 2.8 2.7 Amortization (4.7) (1.6) (8.3) (4.9) Total (1.9) (1.6) (5.5) (2.2) Income tax expense $ 8.8 $ 49.5 $ 32.0 $ 83.1 Evergy Kansas Central Three Months Ended Year to Date 2023 2022 2023 2022 Current income taxes (millions) Federal $ (7.0) $ 22.3 $ 14.5 $ 59.1 State 3.0 3.2 7.9 2.3 Total (4.0) 25.5 22.4 61.4 Deferred income taxes Federal (1.1) (8.3) (11.8) (38.7) State (1.8) (0.6) (4.1) 1.2 Total (2.9) (8.9) (15.9) (37.5) Investment tax credit Deferral 2.9 — 2.9 2.7 Amortization (3.9) (1.1) (5.8) (3.1) Total (1.0) (1.1) (2.9) (0.4) Income tax expense (benefit) $ (7.9) $ 15.5 $ 3.6 $ 23.5 Evergy Metro Three Months Ended Year to Date 2023 2022 2023 2022 Current income taxes (millions) Federal $ 0.1 $ (22.5) $ (1.7) $ (20.0) State 3.7 2.1 8.9 3.2 Total 3.8 (20.4) 7.2 (16.8) Deferred income taxes Federal 23.0 54.3 43.5 73.9 State (2.2) (0.1) (5.8) (0.1) Total 20.8 54.2 37.7 73.8 Investment tax credit amortization (0.9) (0.6) (2.6) (1.8) Income tax expense $ 23.7 $ 33.2 $ 42.3 $ 55.2 |
Schedule of Effective Income Tax Rate Reconciliation | Effective income tax rates reflected in the financial statements and the reasons for their differences from the statutory federal rates are detailed in the following tables. Evergy Three Months Ended Year to Date 2023 2022 2023 2022 Federal statutory income tax 21.0 % 21.0 % 21.0 % 21.0 % COLI policies (1.8) (1.3) (1.6) (1.0) State income taxes (0.5) 0.7 (0.2) 0.7 Flow through depreciation for plant-related differences (9.9) (5.6) (8.7) (5.8) Federal tax credits (6.7) (3.7) (5.9) (3.8) Non-controlling interest (0.4) (0.3) (0.3) (0.3) AFUDC equity 0.2 (0.5) (0.2) (0.5) Amortization of federal investment tax credits (0.8) (0.2) (0.7) (0.2) Valuation allowance 1.0 — 0.6 — Stock compensation — — — (0.2) Officer compensation limitation 0.3 0.2 0.3 0.2 Other — — 0.2 (0.2) Effective income tax rate 2.4 % 10.3 % 4.5 % 9.9 % Evergy Kansas Central Three Months Ended Year to Date 2023 2022 2023 2022 Federal statutory income tax 21.0 % 21.0 % 21.0 % 21.0 % COLI policies (4.3) (2.7) (3.1) (2.0) State income taxes (2.3) 0.7 (0.5) 0.4 Flow through depreciation for plant-related differences (6.2) (3.6) (4.5) (3.9) Federal tax credits (16.3) (7.7) (11.7) (8.0) Non-controlling interest (0.9) (0.6) (0.7) (0.6) AFUDC equity 0.3 (0.7) (0.2) (0.7) Amortization of federal investment tax credits (0.8) 0.1 (0.6) 0.1 Valuation allowance 2.8 — 1.1 — Stock compensation — — — (0.2) Other 0.4 0.1 0.3 (0.3) Effective income tax rate (6.3) % 6.6 % 1.1 % 5.8 % Evergy Metro Three Months Ended Year to Date 2023 2022 2023 2022 Federal statutory income tax 21.0 % 21.0 % 21.0 % 21.0 % COLI policies (0.1) (0.1) (0.1) (0.1) State income taxes 0.6 0.7 0.7 0.6 Flow through depreciation for plant-related differences (8.7) (6.3) (8.5) (6.5) Federal tax credits (0.3) (0.1) (0.2) (0.1) AFUDC equity 0.2 (0.4) (0.3) (0.4) Amortization of federal investment tax credits (0.9) (0.5) (0.9) (0.6) Stock compensation — — 0.2 (0.2) Officer compensation limitation 0.5 0.4 0.5 0.5 Other (0.1) — (0.1) (0.1) Effective income tax rate 12.2 % 14.7 % 12.3 % 14.1 % |
ORGANIZATION AND BASIS OF PRE_4
ORGANIZATION AND BASIS OF PRESENTATION - Organization (Details) customer in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Oct. 31, 2023 USD ($) MW | Aug. 09, 2022 USD ($) MW | May 31, 2023 USD ($) | Apr. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2023 subsidiary customer segment kilovolt_line mi MW | Sep. 30, 2022 USD ($) | |
Summary Of Accounting Policies [Line Items] | |||||||
Owned generating capacity and renewable purchased power | MW | 15,600 | ||||||
Number of customers served | customer | 1.7 | ||||||
Number of segments | segment | 1 | ||||||
Equity investment loss, net of derivative gain | $ 2.1 | $ 16.3 | |||||
2022 Oklahoma Wind Farm Purchase | |||||||
Summary Of Accounting Policies [Line Items] | |||||||
Asset Acquisition, Price of Acquisition, Expected | $ 250 | ||||||
ApproximateMWNameplateCapacity | MW | 199 | ||||||
Asset Acquisition, Consideration Transferred | $ 220.9 | ||||||
2024 Natural Gas Plant Purchase | Subsequent Event | |||||||
Summary Of Accounting Policies [Line Items] | |||||||
Asset Acquisition, Price of Acquisition, Expected | $ 60 | ||||||
ApproximateMWNameplateCapacity | MW | 143 | ||||||
Prairie Wind Transmission, LLC | |||||||
Summary Of Accounting Policies [Line Items] | |||||||
Transmission line length | mi | 108 | ||||||
Transmission line electrical potential | kilovolt_line | 345 | ||||||
Evergy Kansas Central | 2023 Rate case proceedings | |||||||
Summary Of Accounting Policies [Line Items] | |||||||
Annual wind farm revenue rate increase (decrease), requested | $ 21.5 | ||||||
Evergy Kansas Central | 2023 Rate case proceedings | Subsequent Event | |||||||
Summary Of Accounting Policies [Line Items] | |||||||
Annual wind farm revenue rate increase (decrease), requested | $ 18.6 | ||||||
Persimmon Creek costs recovery period | 20 years | ||||||
Evergy Kansas South Inc | Evergy Kansas Central | |||||||
Summary Of Accounting Policies [Line Items] | |||||||
Number of active wholly owned subsidiaries | subsidiary | 1 | ||||||
Transource Energy, LLC | Evergy Transmission Company LLC | |||||||
Summary Of Accounting Policies [Line Items] | |||||||
Ownership percentage | 13.50% | ||||||
Transource Energy, LLC | AEP Transmission Holding Company, LLC | |||||||
Summary Of Accounting Policies [Line Items] | |||||||
Ownership interest | 86.50% | ||||||
Prairie Wind Transmission, LLC | Evergy Kansas Central | |||||||
Summary Of Accounting Policies [Line Items] | |||||||
Ownership percentage | 50% |
ORGANIZATION AND BASIS OF PRE_5
ORGANIZATION AND BASIS OF PRESENTATION - Fuel Inventory and Supplies (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Inventory [Line Items] | ||
Fuel inventory | $ 237.4 | $ 180.7 |
Supplies | 502.5 | 492.2 |
Fuel inventory and supplies | 739.9 | 672.9 |
Evergy Kansas Central | ||
Inventory [Line Items] | ||
Fuel inventory | 134.7 | 97.2 |
Supplies | 261.2 | 252.3 |
Fuel inventory and supplies | 395.9 | 349.5 |
Evergy Metro | ||
Inventory [Line Items] | ||
Fuel inventory | 68.6 | 59 |
Supplies | 177.8 | 181.6 |
Fuel inventory and supplies | $ 246.4 | $ 240.6 |
ORGANIZATION AND BASIS OF PRE_6
ORGANIZATION AND BASIS OF PRESENTATION - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | $ 23,141.4 | $ 22,136.5 |
Electric plant in service | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 33,693.3 | 32,129.3 |
Property, plant and equipment, adjustment | 724.9 | 724.3 |
Accumulated depreciation | (12,856.9) | (12,304.9) |
Property, plant and equipment, net | 21,561.3 | 20,548.7 |
Construction work in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 1,403.6 | 1,421.2 |
Nuclear fuel, net | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 175.7 | 165.8 |
Plant to be retired, net | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 0.8 | 0.8 |
Evergy Kansas Central | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 11,741.5 | 11,080.8 |
Evergy Kansas Central | Electric plant in service | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 16,236.7 | 15,376.9 |
Property, plant and equipment, adjustment | 724.9 | 724.3 |
Accumulated depreciation | (6,157.1) | (5,922.9) |
Property, plant and equipment, net | 10,804.5 | 10,178.3 |
Evergy Kansas Central | Construction work in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 848.9 | 819.5 |
Evergy Kansas Central | Nuclear fuel, net | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 87.3 | 82.2 |
Evergy Kansas Central | Plant to be retired, net | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 0.8 | 0.8 |
Evergy Metro | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 8,019.9 | 7,844.2 |
Evergy Metro | Electric plant in service | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 12,879.4 | 12,343.3 |
Property, plant and equipment, adjustment | 0 | 0 |
Accumulated depreciation | (5,325.7) | (5,065.3) |
Property, plant and equipment, net | 7,553.7 | 7,278 |
Evergy Metro | Construction work in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 377.8 | 482.6 |
Evergy Metro | Nuclear fuel, net | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 88.4 | 83.6 |
Evergy Metro | Plant to be retired, net | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | $ 0 | $ 0 |
ORGANIZATION AND BASIS OF PRE_7
ORGANIZATION AND BASIS OF PRESENTATION - Other Income And Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Entity Information [Line Items] | ||||
Non-service cost component of net benefit cost | $ (6.4) | $ (10.2) | $ (37.2) | $ (46.5) |
Other | (6.4) | (6.5) | (17.9) | (18) |
Other expense | (12.8) | (16.7) | (55.1) | (64.5) |
Evergy Kansas Central | ||||
Entity Information [Line Items] | ||||
Non-service cost component of net benefit cost | (4.5) | (4.2) | (12.7) | (13.6) |
Other | (5.7) | (6.3) | (16.1) | (16.2) |
Other expense | (10.2) | (10.5) | (28.8) | (29.8) |
Evergy Metro | ||||
Entity Information [Line Items] | ||||
Non-service cost component of net benefit cost | (0.1) | (2.2) | (18) | (21.8) |
Other | (0.4) | (0.3) | (1.3) | (1.3) |
Other expense | $ (0.5) | $ (2.5) | $ (19.3) | $ (23.1) |
ORGANIZATION AND BASIS OF PRE_8
ORGANIZATION AND BASIS OF PRESENTATION - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Income | ||||||||
Net income | $ 354.6 | $ 182.2 | $ 145.7 | $ 431.2 | $ 197.6 | $ 125.6 | $ 682.5 | $ 754.4 |
Less: Net income attributable to noncontrolling interests | 3 | 3 | 9.2 | 9.2 | ||||
Net income attributable to Evergy, Inc. | $ 351.6 | $ 428.2 | $ 673.3 | $ 745.2 | ||||
Common Shares Outstanding | ||||||||
Weighted average equivalent common shares outstanding - basic (in shares) | 230.1 | 229.9 | 230 | 229.9 | ||||
Add: effect of dilutive securities (in shares) | 0.4 | 0.7 | 0.5 | 0.6 | ||||
Diluted average number of common shares outstanding (in shares) | 230.5 | 230.6 | 230.5 | 230.5 | ||||
Earnings Per Share, Basic | $ 1.53 | $ 1.86 | $ 2.93 | $ 3.24 | ||||
Earnings Per Share, Diluted | $ 1.53 | $ 1.86 | $ 2.92 | $ 3.23 |
ORGANIZATION AND BASIS OF PRE_9
ORGANIZATION AND BASIS OF PRESENTATION - Antidilutive Securities (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Warrant | Maximum | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share, amount | 3,950,000 | 3,950,000 | 3,950,000 | 3,950,000 |
RSUs | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share, amount | 0 | 0 |
ORGANIZATION AND BASIS OF PR_10
ORGANIZATION AND BASIS OF PRESENTATION - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | ||||||
Oct. 31, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | |
Dividends Payable [Line Items] | |||||||
Dividends declared on common stock (in dollars per share) | $ 0.6125 | $ 0.6125 | $ 0.6125 | $ 0.5725 | $ 0.5725 | $ 0.5725 | |
Subsequent Event | Evergy Metro | |||||||
Dividends Payable [Line Items] | |||||||
Dividends payable | $ 150 | ||||||
Common Stock | Subsequent Event | |||||||
Dividends Payable [Line Items] | |||||||
Dividends declared on common stock (in dollars per share) | $ 0.6425 |
ORGANIZATION AND BASIS OF PR_11
ORGANIZATION AND BASIS OF PRESENTATION - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash paid for (received from): | ||
Interest, net of amount capitalized | $ 370.3 | $ 305.5 |
Income taxes, net of refunds | 19 | 8 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 12.1 | 8.2 |
Right-of-use assets obtained in exchange for new finance lease liabilities | 3.7 | 7 |
Non-cash investing transactions: | ||
Property, plant and equipment additions | 171.4 | 128.6 |
Evergy Kansas Central | ||
Cash paid for (received from): | ||
Interest, net of amount capitalized | 149.4 | 130.9 |
Income taxes, net of refunds | 53 | 43.1 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 6.4 | 8 |
Right-of-use assets obtained in exchange for new finance lease liabilities | 3.7 | 7 |
Non-cash investing transactions: | ||
Property, plant and equipment additions | 85.1 | 51.7 |
Evergy Metro | ||
Cash paid for (received from): | ||
Interest, net of amount capitalized | 82.2 | 84.3 |
Income taxes, net of refunds | (0.4) | (0.4) |
Right-of-use assets obtained in exchange for new operating lease liabilities | 5.1 | 0.2 |
Non-cash investing transactions: | ||
Property, plant and equipment additions | $ 65.4 | $ 53.7 |
REVENUE (Details)
REVENUE (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | $ 1,631.5 | $ 1,846.7 | $ 4,187.4 | $ 4,360.8 |
Other | 37.8 | 62.4 | 132.9 | 218.7 |
Revenues | 1,669.3 | 1,909.1 | 4,320.3 | 4,579.5 |
Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 762.8 | 997.2 | 2,044.8 | 2,307.6 |
Other | 10.5 | 24.2 | 46.7 | 51.7 |
Revenues | 773.3 | 1,021.4 | 2,091.5 | 2,359.3 |
Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 581.4 | 604.1 | 1,414.9 | 1,398.8 |
Other | 26.8 | 37.7 | 85 | 165.6 |
Revenues | 608.2 | 641.8 | 1,499.9 | 1,564.4 |
Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 675.1 | 746.6 | 1,626.4 | 1,711.8 |
Residential | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 262.9 | 343.1 | 647.3 | 762 |
Residential | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 259.9 | 255.9 | 603.9 | 600.7 |
Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 528.6 | 583.7 | 1,419.3 | 1,452.3 |
Commercial | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 196.5 | 267 | 555.3 | 625.9 |
Commercial | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 232.9 | 222 | 606.1 | 589.7 |
Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 158.9 | 197.2 | 475.3 | 517.6 |
Industrial | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 93.4 | 134 | 300.1 | 346.7 |
Industrial | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 37.2 | 36.6 | 100.6 | 98.8 |
Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 11.6 | (39) | 31.8 | (20.2) |
Deferral of revenues to regulatory liability for refund to customers for return on investment of retired Sibley Station | 47.5 | 47.5 | ||
Other retail | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 5.7 | 4.6 | 12.5 | 13.2 |
Other retail | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 3.4 | 3 | 9.5 | 8.6 |
Total electric retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 1,374.2 | 1,488.5 | 3,552.8 | 3,661.5 |
Total electric retail | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 558.5 | 748.7 | 1,515.2 | 1,747.8 |
Total electric retail | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 533.4 | 517.5 | 1,320.1 | 1,297.8 |
Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 148.3 | 250.6 | 301.8 | 382 |
Wholesale | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 106.3 | 156.9 | 232.7 | 288.4 |
Wholesale | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 43.4 | 81.4 | 80.7 | 86.6 |
Transmission | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 101.9 | 101.3 | 308.2 | 300.3 |
Transmission | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 97.6 | 91.2 | 294.8 | 269.8 |
Transmission | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 3.7 | 4.6 | 10.8 | 14.4 |
Industrial steam and other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 7.1 | 6.3 | 24.6 | 17 |
Industrial steam and other | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 0.4 | 0.4 | 2.1 | 1.6 |
Industrial steam and other | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | $ 0.9 | $ 0.6 | $ 3.3 | $ 0 |
RECEIVABLES (Details)
RECEIVABLES (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables | $ 144.5 | $ 200.9 |
Allowance for credit losses | (21.5) | (31.4) |
Total | 330.1 | 315.3 |
Evergy Kansas Central | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables | 141.9 | 194.9 |
Allowance for credit losses | (9.9) | (16.9) |
Total | 198.6 | 249.4 |
Evergy Metro | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables | 15.8 | 21.6 |
Allowance for credit losses | (7.2) | (9.3) |
Total | 89.6 | 37.8 |
Customer accounts receivable | Billed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Customer accounts receivable | 15.7 | 8.9 |
Customer accounts receivable | Billed | Evergy Kansas Central | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Customer accounts receivable | 0 | 0 |
Customer accounts receivable | Billed | Evergy Metro | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Customer accounts receivable | 0 | 0 |
Customer accounts receivable | Unbilled | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Customer accounts receivable | 191.4 | 136.9 |
Customer accounts receivable | Unbilled | Evergy Kansas Central | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Customer accounts receivable | 66.6 | 71.4 |
Customer accounts receivable | Unbilled | Evergy Metro | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Customer accounts receivable | $ 81 | $ 25.5 |
RECEIVABLES - Narrative (Detail
RECEIVABLES - Narrative (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Entity Information [Line Items] | ||
Other receivables, contracts with customers | $ 70.6 | $ 113 |
Accounts receivable pledged as collateral | 395 | 359 |
Evergy Kansas Central | ||
Entity Information [Line Items] | ||
Other receivables, contracts with customers | 67.4 | 110.8 |
Accounts receivable pledged as collateral | 200 | 185 |
Evergy Metro | ||
Entity Information [Line Items] | ||
Other receivables, contracts with customers | 2.1 | 1.3 |
Accounts receivable pledged as collateral | 130 | $ 124 |
Maximum amount of outstanding principal under receivables agreement | 130 | |
Borrowings from mid November through mid July | Evergy Kansas Central | ||
Entity Information [Line Items] | ||
Maximum amount of outstanding principal under receivables agreement | 185 | |
Borrowings from mid November through mid July | Evergy Missouri West | ||
Entity Information [Line Items] | ||
Maximum amount of outstanding principal under receivables agreement | 50 | |
Borrowings from mid July through mid November | Evergy Kansas Central | ||
Entity Information [Line Items] | ||
Maximum amount of outstanding principal under receivables agreement | 200 | |
Borrowings from mid July through mid November | Evergy Missouri West | ||
Entity Information [Line Items] | ||
Maximum amount of outstanding principal under receivables agreement | $ 65 |
RECEIVABLES - Allowance for Cre
RECEIVABLES - Allowance for Credit Loses (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance January 1 | $ 31.4 | $ 32.9 |
Credit loss expense | 7.4 | 4.9 |
Write-offs | (25.2) | (21.6) |
Recoveries of prior write-offs | 7.9 | 8.5 |
Ending balance September 30 | 21.5 | 24.7 |
Evergy Kansas Central | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance January 1 | 16.9 | 13 |
Credit loss expense | 3.1 | 5.4 |
Write-offs | (13.6) | (10.1) |
Recoveries of prior write-offs | 3.5 | 3.4 |
Ending balance September 30 | 9.9 | 11.7 |
Evergy Metro | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance January 1 | 9.3 | 13.3 |
Credit loss expense | 2.7 | (0.4) |
Write-offs | (7.8) | (7.8) |
Recoveries of prior write-offs | 3 | 3.5 |
Ending balance September 30 | $ 7.2 | $ 8.6 |
RECEIVABLES - Other Receivables
RECEIVABLES - Other Receivables (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables, contracts with customers | $ 70.6 | $ 113 |
Evergy Kansas Central | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables, contracts with customers | 67.4 | 110.8 |
Evergy Metro | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables, contracts with customers | $ 2.1 | $ 1.3 |
RECEIVABLES - Pledged as Collat
RECEIVABLES - Pledged as Collateral (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable pledged as collateral | $ 395 | $ 359 |
Evergy Kansas Central | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable pledged as collateral | 200 | 185 |
Evergy Metro | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable pledged as collateral | $ 130 | $ 124 |
RATE MATTERS AND REGULATION - N
RATE MATTERS AND REGULATION - Narrative (Details) $ in Millions | 1 Months Ended | 9 Months Ended | ||||
Oct. 31, 2023 USD ($) | Sep. 30, 2023 USD ($) | May 31, 2023 USD ($) | Apr. 30, 2023 USD ($) | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Regulatory Proceedings [Line Items] | ||||||
Interest rate | 5.06% | 5.06% | ||||
Regulatory Asset, Amortization Period | 15 years | 15 years | ||||
Evergy Metro | Missouri Public Service Commission | ||||||
Regulatory Proceedings [Line Items] | ||||||
Public Utilities, Recovery Mechanism's Sharing Percentage for Fuel Cost | 0.05 | |||||
Evergy Missouri West | Missouri Public Service Commission | ||||||
Regulatory Proceedings [Line Items] | ||||||
Public Utilities, Recovery Mechanism Percent for Fuel Cost | 0.95 | |||||
2023 Rate case proceedings | Evergy Kansas Central | ||||||
Regulatory Proceedings [Line Items] | ||||||
Annual revenue rate increase (decrease), requested | $ 74 | $ 204 | ||||
Jointly owned utility plant, proportionate ownership share | 8% | 8% | 8% | |||
Cost of investment in renewable generation, net of cash acquired | $ 220.9 | |||||
Annual wind farm revenue rate increase (decrease), requested | $ 21.5 | |||||
Deferral of revenues to regulatory liability for refund to customers for COLI rate credits | $ 96.5 | |||||
Return on equity, requested | 10.25% | |||||
Rate-making equity ratio, requested | 52% | |||||
2023 Rate case proceedings | Evergy Metro | ||||||
Regulatory Proceedings [Line Items] | ||||||
Annual revenue rate increase (decrease), requested | (32.9) | $ 14 | ||||
Return on equity, requested | 10.25% | |||||
Rate-making equity ratio, requested | 52% | |||||
2018 Rate Case Proceedings | Evergy Kansas Central | Kansas Corporation Commission | ||||||
Regulatory Proceedings [Line Items] | ||||||
Refund percent on earnings over approved return on equity | 0.50 | |||||
Approved return on equity, percentage | 9.30% | |||||
Estimated refund on earnings over approved return on equity | 0 | $ 0 | ||||
2018 Rate Case Proceedings | Evergy Metro | Kansas Corporation Commission | ||||||
Regulatory Proceedings [Line Items] | ||||||
Refund percent on earnings over approved return on equity | 0.50 | |||||
Approved return on equity, percentage | 9.30% | |||||
Estimated refund on earnings over approved return on equity | 16.7 | $ 16.7 | ||||
Revised estimated refund on earnings over approved return on equity | 6 | 6 | ||||
Ordered refund on earnings over approved return on equity | $ 6 | 6 | ||||
Transmission delivery charge | Evergy Kansas Central | Kansas Corporation Commission | ||||||
Regulatory Proceedings [Line Items] | ||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ (22.3) | |||||
Transmission delivery charge | Evergy Metro | Kansas Corporation Commission | ||||||
Regulatory Proceedings [Line Items] | ||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 4 | |||||
FERC 2023 TFR Proceeding | TFR Refund | ||||||
Regulatory Proceedings [Line Items] | ||||||
Regulatory liabilities | $ 32.8 | |||||
FERC 2023 TFR Proceeding | Evergy Kansas Central | Federal Energy Regulatory Commission | ||||||
Regulatory Proceedings [Line Items] | ||||||
Annual transmissions revenue estimated amount of increase (decrease) over prior year | (21.7) | |||||
FERC 2023 TFR Proceeding | Evergy Metro | Federal Energy Regulatory Commission | ||||||
Regulatory Proceedings [Line Items] | ||||||
Annual transmissions revenue estimated amount of increase (decrease) over prior year | 8.6 | |||||
FERC 2022 TFR Proceeding | Evergy Kansas Central | Federal Energy Regulatory Commission | ||||||
Regulatory Proceedings [Line Items] | ||||||
Annual transmissions revenue estimated amount of increase (decrease) over prior year | 33.2 | |||||
FERC 2022 TFR Proceeding | Evergy Metro | Federal Energy Regulatory Commission | ||||||
Regulatory Proceedings [Line Items] | ||||||
Annual transmissions revenue estimated amount of increase (decrease) over prior year | $ 18.1 | |||||
2021 MPSC Winter Weather Qualified Extraordinary Costs Securitization | Maximum | ||||||
Regulatory Proceedings [Line Items] | ||||||
Regulatory Asset, Amortization Period | 17 years | 17 years | ||||
2021 MPSC Winter Weather Qualified Extraordinary Costs Securitization | Evergy Missouri West | 2021 Winter Weather Qualified Extraordinary Costs Securitization | ||||||
Regulatory Proceedings [Line Items] | ||||||
Regulatory assets | $ 320.2 | $ 320.2 | $ 309 | |||
Subsequent Event | 2023 Rate case proceedings | Evergy Kansas Central | ||||||
Regulatory Proceedings [Line Items] | ||||||
Annual wind farm revenue rate increase (decrease), requested | $ 18.6 | |||||
Persimmon Creek costs recovery period | 20 years | |||||
Subsequent Event | 2023 Rate case proceedings | Evergy Kansas Central | COLI Rate Credits for Refund | ||||||
Regulatory Proceedings [Line Items] | ||||||
Regulatory Liability, Amortization Period | 3 years |
GOODWILL (Details)
GOODWILL (Details) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 USD ($) reporting_unit | Dec. 31, 2022 USD ($) | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill | $ | $ 2,336.6 | $ 2,336.6 |
Number of reporting units | reporting_unit | 1 |
PENSION PLANS AND POST-RETIRE_3
PENSION PLANS AND POST-RETIREMENT BENEFITS - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement and special termination benefits | $ 1.7 | $ 0 | $ 19.6 | $ 0 |
Contributions by employer | 27 | |||
Contributions to plans remainder of year | 0 | 0 | ||
Post-Retirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement and special termination benefits | 0 | 0 | ||
Contributions by employer | 0.4 | |||
Contributions to plans remainder of year | 1.1 | 1.1 | ||
Evergy Kansas Central | Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement and special termination benefits | (0.4) | 0 | (1) | 0 |
Contributions by employer | 17.7 | |||
Contributions to plans remainder of year | 0 | 0 | ||
Evergy Kansas Central | Post-Retirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement and special termination benefits | 0 | 0 | ||
Contributions by employer | 0.2 | |||
Contributions to plans remainder of year | 0.2 | 0.2 | ||
Evergy Metro | Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement and special termination benefits | 2.1 | $ 0 | 20.6 | $ 0 |
Contributions by employer | 9.3 | |||
Contributions to plans remainder of year | 0 | 0 | ||
Evergy Metro | Post-Retirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement and special termination benefits | 0 | 0 | ||
Contributions by employer | 0.2 | |||
Contributions to plans remainder of year | $ 0.9 | $ 0.9 | ||
Wolf Creek | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Jointly owned utility plant, proportionate ownership share | 94% | 94% | ||
Wolf Creek | Evergy Kansas South Inc | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Jointly owned utility plant, proportionate ownership share | 47% | 47% | ||
Wolf Creek | Evergy Metro | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Jointly owned utility plant, proportionate ownership share | 47% | 47% |
PENSION PLANS AND POST-RETIRE_4
PENSION PLANS AND POST-RETIREMENT BENEFITS PENSION PLANS AND POST-RETIREMENT BENEFITS - Schedule of Components of Net Periodic Benefit Costs (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax [Abstract] | ||||
Total recognized in OCI or regulatory asset/liability | $ (1.4) | $ (1.4) | $ (4) | $ (4.2) |
Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 11.4 | 19.9 | 34.6 | 59.8 |
Interest cost | 22.9 | 19.9 | 68.3 | 59.5 |
Expected return on plan assets | (21.9) | (26) | (65.8) | (78) |
Prior service cost | 0.4 | 0.5 | 1.4 | 1.4 |
Recognized net actuarial (gain) loss | (4.8) | 8.6 | (14.3) | 26.1 |
Settlement and special termination benefits | (1.7) | 0 | (19.6) | 0 |
Net periodic benefit costs before regulatory adjustment and intercompany allocations | 6.3 | 22.9 | 4.6 | 68.8 |
Regulatory adjustment | 14.4 | 8.1 | 69.9 | 39 |
Intercompany allocations | 0 | 0 | 0 | 0 |
Net periodic benefit costs (income) | 20.7 | 31 | 74.5 | 107.8 |
Post-Retirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0.5 | 0.8 | 1.4 | 2.3 |
Interest cost | 2.7 | 1.9 | 8.3 | 5.9 |
Expected return on plan assets | (2.9) | (2.5) | (8.9) | (7.6) |
Prior service cost | 0 | 0.2 | 0 | 0.4 |
Recognized net actuarial (gain) loss | (1.1) | (0.2) | (3.2) | (0.3) |
Settlement and special termination benefits | 0 | 0 | ||
Net periodic benefit costs before regulatory adjustment and intercompany allocations | (0.8) | 0.2 | (2.4) | 0.7 |
Regulatory adjustment | (0.2) | (0.7) | (0.5) | (1.9) |
Intercompany allocations | 0 | 0 | 0 | 0 |
Net periodic benefit costs (income) | (1) | (0.5) | (2.9) | (1.2) |
Evergy Kansas Central | Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 4.7 | 7.7 | 14.3 | 23.1 |
Interest cost | 11.6 | 9.6 | 34.8 | 29 |
Expected return on plan assets | (11) | (12.8) | (33.2) | (38.4) |
Prior service cost | 0.5 | 0.5 | 1.5 | 1.5 |
Recognized net actuarial (gain) loss | (0.3) | 6.4 | (1) | 19.2 |
Settlement and special termination benefits | 0.4 | 0 | 1 | 0 |
Net periodic benefit costs before regulatory adjustment and intercompany allocations | 5.9 | 11.4 | 17.4 | 34.4 |
Regulatory adjustment | 6.8 | 2.2 | 21.1 | 7.9 |
Intercompany allocations | (0.5) | 1.7 | (1.6) | 2.1 |
Net periodic benefit costs (income) | 12.2 | 15.3 | 36.9 | 44.4 |
Evergy Kansas Central | Post-Retirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0.2 | 0.4 | 0.7 | 1.2 |
Interest cost | 1.6 | 1 | 4.3 | 3 |
Expected return on plan assets | (1.7) | (1.7) | (4.7) | (4.9) |
Prior service cost | 0 | 0.1 | 0 | 0.3 |
Recognized net actuarial (gain) loss | (0.5) | 0 | (1.5) | (0.1) |
Settlement and special termination benefits | 0 | 0 | ||
Net periodic benefit costs before regulatory adjustment and intercompany allocations | (0.4) | (0.2) | (1.2) | (0.5) |
Regulatory adjustment | (0.6) | (0.7) | (1.8) | (2.1) |
Intercompany allocations | 0.1 | 0.1 | 0.2 | 0.2 |
Net periodic benefit costs (income) | (0.9) | (0.8) | (2.8) | (2.4) |
Evergy Metro | ||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax [Abstract] | ||||
Total recognized in OCI or regulatory asset/liability | 0.1 | 0.1 | 0.2 | 0.2 |
Evergy Metro | Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 6.7 | 12.2 | 20.3 | 36.7 |
Interest cost | 11 | 9.9 | 32.7 | 29.8 |
Expected return on plan assets | (10.9) | (14.1) | (32.6) | (42.3) |
Prior service cost | 0 | 0 | 0 | 0 |
Recognized net actuarial (gain) loss | (4.3) | 9.7 | (12.7) | 29 |
Settlement and special termination benefits | (2.1) | 0 | (20.6) | 0 |
Net periodic benefit costs before regulatory adjustment and intercompany allocations | 0.4 | 17.7 | (12.9) | 53.2 |
Regulatory adjustment | 7.3 | (0.6) | 48.3 | 11.6 |
Intercompany allocations | (0.3) | (5.1) | (0.8) | (13.5) |
Net periodic benefit costs (income) | 7.4 | 12 | 34.6 | 51.3 |
Evergy Metro | Post-Retirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0.3 | 0.4 | 0.7 | 1.1 |
Interest cost | 1.4 | 1 | 4.1 | 2.9 |
Expected return on plan assets | (1.4) | (0.9) | (4.2) | (2.8) |
Prior service cost | (0.1) | (0.4) | (0.3) | (1.1) |
Recognized net actuarial (gain) loss | (0.6) | (0.3) | (1.6) | (0.5) |
Settlement and special termination benefits | 0 | 0 | ||
Net periodic benefit costs before regulatory adjustment and intercompany allocations | (0.4) | (0.2) | (1.3) | (0.4) |
Regulatory adjustment | 0.5 | 0.5 | 1.5 | 1.8 |
Intercompany allocations | 0 | (0.2) | 0 | (0.5) |
Net periodic benefit costs (income) | $ 0.1 | $ 0.1 | $ 0.2 | $ 0.9 |
SHORT-TERM BORROWINGS AND SHO_3
SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT - Narrative (Details) - USD ($) | Sep. 30, 2023 | Feb. 28, 2023 | Dec. 31, 2022 |
Cash Borrowings | |||
Short-term Debt [Line Items] | |||
Line of credit, maximum borrowing capacity | $ 2,500,000,000 | ||
Debt instrument, debt default, threshold | $ 100,000,000 | ||
Debt Instrument, debt to capitalization ratio (no more than) | 65% | ||
Line of credit | $ 0 | $ 0 | |
Term Loan Facility | |||
Short-term Debt [Line Items] | |||
Debt Instrument, debt to capitalization ratio (no more than) | 65% | ||
Term Loan Facility | Unsecured Debt | |||
Short-term Debt [Line Items] | |||
Line of credit, maximum borrowing capacity | $ 500,000,000 | ||
Term Loan Facility Borrowings | $ 500,000,000 | ||
Weighted Average Interest Rate on Term Loan Facility | 6.44% | ||
Commercial Paper | |||
Short-term Debt [Line Items] | |||
LineOfCreditFacilityClassifiedasLongTermDebt | 500,000,000 | ||
Line of credit | $ 1,678,400,000 | 1,332,300,000 | |
Evergy Kansas Central | Cash Borrowings | |||
Short-term Debt [Line Items] | |||
Debt instrument, debt default, threshold | $ 100,000,000 | ||
Debt Instrument, debt to capitalization ratio (no more than) | 65% | ||
Line of credit | $ 0 | 0 | |
Evergy Kansas Central | Commercial Paper | |||
Short-term Debt [Line Items] | |||
Line of credit | 660,200,000 | 772,100,000 | |
Evergy Metro | Cash Borrowings | |||
Short-term Debt [Line Items] | |||
Debt instrument, debt default, threshold | $ 100,000,000 | ||
Debt Instrument, debt to capitalization ratio (no more than) | 65% | ||
Line of credit | $ 0 | 0 | |
Evergy Metro | Commercial Paper | |||
Short-term Debt [Line Items] | |||
Line of credit | 331,800,000 | 111,000,000 | |
Evergy Missouri West | Cash Borrowings | |||
Short-term Debt [Line Items] | |||
Debt instrument, debt default, threshold | $ 100,000,000 | ||
Debt Instrument, debt to capitalization ratio (no more than) | 65% | ||
Line of credit | $ 0 | 0 | |
Evergy Missouri West | Commercial Paper | |||
Short-term Debt [Line Items] | |||
Line of credit | 573,500,000 | 449,200,000 | |
Evergy, Inc. | Cash Borrowings | |||
Short-term Debt [Line Items] | |||
Line of credit | 0 | 0 | |
Evergy, Inc. | Commercial Paper | |||
Short-term Debt [Line Items] | |||
Line of credit | $ 112,900,000 | $ 0 |
SHORT-TERM BORROWINGS AND SHO_4
SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT - Schedule of Short Term Debt (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Short-term Debt [Line Items] | ||
Master Credit Facility | $ 2,500 | $ 2,500 |
Available Borrowings | 819.9 | 1,167 |
Evergy, Inc. | ||
Short-term Debt [Line Items] | ||
Master Credit Facility | 300 | 450 |
Available Borrowings | $ 186.4 | $ 449.3 |
Weighted Average Interest Rate on Short-Term Borrowings | 5.50% | 0% |
Evergy Kansas Central | ||
Short-term Debt [Line Items] | ||
Master Credit Facility | $ 850 | $ 1,000 |
Available Borrowings | $ 188.8 | $ 227.9 |
Weighted Average Interest Rate on Short-Term Borrowings | 5.55% | 4.91% |
Evergy Metro | ||
Short-term Debt [Line Items] | ||
Master Credit Facility | $ 650 | $ 350 |
Available Borrowings | $ 318.2 | $ 239 |
Weighted Average Interest Rate on Short-Term Borrowings | 5.46% | 5.02% |
Evergy Missouri West | ||
Short-term Debt [Line Items] | ||
Master Credit Facility | $ 700 | $ 700 |
Available Borrowings | $ 126.5 | $ 250.8 |
Weighted Average Interest Rate on Short-Term Borrowings | 5.54% | 4.84% |
Commercial Paper | ||
Short-term Debt [Line Items] | ||
Line of credit | $ 1,678.4 | $ 1,332.3 |
Commercial Paper | Evergy, Inc. | ||
Short-term Debt [Line Items] | ||
Line of credit | 112.9 | 0 |
Commercial Paper | Evergy Kansas Central | ||
Short-term Debt [Line Items] | ||
Line of credit | 660.2 | 772.1 |
Commercial Paper | Evergy Metro | ||
Short-term Debt [Line Items] | ||
Line of credit | 331.8 | 111 |
Commercial Paper | Evergy Missouri West | ||
Short-term Debt [Line Items] | ||
Line of credit | 573.5 | 449.2 |
Letters of Credit | ||
Short-term Debt [Line Items] | ||
Letters of Credit | 1.7 | 0.7 |
Letters of Credit | Evergy, Inc. | ||
Short-term Debt [Line Items] | ||
Letters of Credit | 0.7 | 0.7 |
Letters of Credit | Evergy Kansas Central | ||
Short-term Debt [Line Items] | ||
Letters of Credit | 1 | 0 |
Letters of Credit | Evergy Metro | ||
Short-term Debt [Line Items] | ||
Letters of Credit | 0 | 0 |
Letters of Credit | Evergy Missouri West | ||
Short-term Debt [Line Items] | ||
Letters of Credit | 0 | 0 |
Cash Borrowings | ||
Short-term Debt [Line Items] | ||
Line of credit | 0 | 0 |
Cash Borrowings | Evergy, Inc. | ||
Short-term Debt [Line Items] | ||
Line of credit | 0 | 0 |
Cash Borrowings | Evergy Kansas Central | ||
Short-term Debt [Line Items] | ||
Line of credit | 0 | 0 |
Cash Borrowings | Evergy Metro | ||
Short-term Debt [Line Items] | ||
Line of credit | 0 | 0 |
Cash Borrowings | Evergy Missouri West | ||
Short-term Debt [Line Items] | ||
Line of credit | $ 0 | $ 0 |
LONG-TERM DEBT - Narrative (Det
LONG-TERM DEBT - Narrative (Details) - USD ($) $ in Millions | Sep. 30, 2023 | May 31, 2023 | Apr. 30, 2023 | Mar. 31, 2023 |
Debt Instrument [Line Items] | ||||
Interest rate | 5.06% | |||
Senior Notes | Series Notes Due 2023 EM | ||||
Debt Instrument [Line Items] | ||||
Long-term debt gross | $ 300 | |||
Interest rate | 3.15% | |||
Evergy Kansas Central | Secured Debt | Mortgage Bonds Due 2053 EKC | ||||
Debt Instrument [Line Items] | ||||
Long-term debt gross | $ 400 | |||
Interest rate | 5.70% | |||
Evergy Metro | Secured Debt | Mortgage Bonds Due 2033 EM | ||||
Debt Instrument [Line Items] | ||||
Long-term debt gross | $ 300 | |||
Interest rate | 4.95% | |||
Evergy Kansas South Inc | Secured Debt | Mortgage Bonds Due 2023 EKS | ||||
Debt Instrument [Line Items] | ||||
Long-term debt gross | $ 50 | |||
Interest rate | 6.15% |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities - Narrative (Details) $ in Millions | Sep. 30, 2023 USD ($) |
Derivative, Credit Risk Related Contingent Features [Abstract] | |
Derivative, Net Liability Position, Aggregate Fair Value | $ 36 |
Credit Derivatives [Line Items] | |
Credit Derivative, Maximum Exposure, Undiscounted | 39.7 |
Additional Collateral, Aggregate Fair Value | 35.2 |
Collateral Already Posted, Aggregate Fair Value | 0.6 |
Credit Derivative, Maximum Exposure, After Master Netting and Collateral | 32.6 |
Evergy Kansas Central | |
Credit Derivatives [Line Items] | |
Credit Derivative, Maximum Exposure, Undiscounted | 39.7 |
Additional Collateral, Aggregate Fair Value | 35.2 |
Collateral Already Posted, Aggregate Fair Value | 0.6 |
Credit Derivative, Maximum Exposure, After Master Netting and Collateral | $ 32.6 |
Derivative Instruments - Notion
Derivative Instruments - Notional Amounts (Details) - Not Designated as Hedging Instrument [Member] MWh in Millions, MMBTU in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 MWh MMBTU | Dec. 31, 2022 MWh MMBTU | |
Natural gas commodity contract | ||
Price Risk Derivatives [Abstract] | ||
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU | 236.2 | 772.7 |
Power commodity contract | ||
Price Risk Derivatives [Abstract] | ||
Derivative, Nonmonetary Notional Amount, Energy Measure | 79.8 | 67.2 |
Evergy Kansas Central | Natural gas commodity contract | ||
Price Risk Derivatives [Abstract] | ||
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU | 234.3 | 769.6 |
Evergy Kansas Central | Power commodity contract | ||
Price Risk Derivatives [Abstract] | ||
Derivative, Nonmonetary Notional Amount, Energy Measure | 47.3 | 41.6 |
Evergy Metro | Power commodity contract | ||
Price Risk Derivatives [Abstract] | ||
Derivative, Nonmonetary Notional Amount, Energy Measure | 23.8 | 18.2 |
Derivative Instruments Offsetti
Derivative Instruments Offsetting Assets (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
FIN 39 Derivative asset netting | ||
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Other | Other |
Derivative Asset, Current | $ 19 | $ 25.2 |
Derivative Asset, Noncurrent | $ 29.5 | $ 25.1 |
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] | Other | Other |
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Other | Other |
Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | $ 79.2 | $ 329.8 |
Commodity contract current | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 40.4 | 262.6 |
FIN 39 Derivative asset netting | ||
Gross amounts offset | (21.4) | (237.4) |
Commodity contract noncurrent | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 38.8 | 67.2 |
FIN 39 Derivative asset netting | ||
Gross amounts offset | (9.3) | (42.1) |
Power commodity contract current | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 29.3 | 41.6 |
Power commodity contract noncurrent | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 37.2 | 65.6 |
Natural gas commodity contract current | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 11.1 | 221 |
Natural gas commodity contract noncurrent | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 1.6 | 1.6 |
Evergy Kansas Central | ||
FIN 39 Derivative asset netting | ||
Derivative Asset, Current | 15.2 | 24.8 |
Derivative Asset, Noncurrent | 29.5 | 25.1 |
Evergy Kansas Central | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 71.6 | 324.9 |
Evergy Kansas Central | Commodity contract current | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 32.8 | 257.7 |
FIN 39 Derivative asset netting | ||
Gross amounts offset | (17.6) | (232.9) |
Evergy Kansas Central | Commodity contract noncurrent | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 38.8 | 67.2 |
FIN 39 Derivative asset netting | ||
Gross amounts offset | (9.3) | (42.1) |
Evergy Kansas Central | Power commodity contract current | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 21.7 | 36.7 |
Evergy Kansas Central | Power commodity contract noncurrent | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 37.2 | 65.6 |
Evergy Kansas Central | Natural gas commodity contract current | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 11.1 | 221 |
Evergy Kansas Central | Natural gas commodity contract noncurrent | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 1.6 | 1.6 |
Evergy Metro | ||
FIN 39 Derivative asset netting | ||
Derivative Asset, Current | 0 | 0 |
Derivative Asset, Noncurrent | 0 | 0 |
Evergy Metro | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 3 | 3.5 |
Evergy Metro | Commodity contract current | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 3 | 3.5 |
FIN 39 Derivative asset netting | ||
Gross amounts offset | (3) | (3.5) |
Evergy Metro | Commodity contract noncurrent | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
FIN 39 Derivative asset netting | ||
Gross amounts offset | 0 | 0 |
Evergy Metro | Power commodity contract current | Not Designated as Hedging Instrument [Member] | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | $ 3 | $ 3.5 |
Derivative Instruments Offset_2
Derivative Instruments Offsetting Liabilities (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
Derivative Liability, Current | $ 12.6 | $ 25.8 |
Derivative Liability, Noncurrent | $ 31.6 | $ 26.7 |
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Other | Other |
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] | Other | Other |
Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | $ 68.7 | $ 322.9 |
Power commodity contract noncurrent | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 34.2 | 61.5 |
Commodity contract current | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 32.9 | 259.8 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
FIN 39 Derivative liability netting | (20.3) | (234) |
Commodity contract noncurrent | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 35.8 | 63.1 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
FIN 39 Derivative liability netting | (4.2) | (36.4) |
Power commodity contract current | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 21.9 | 41 |
Natural gas commodity contract current | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 11 | 218.8 |
Natural gas commodity contract noncurrent | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 1.6 | 1.6 |
Evergy Kansas Central | ||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
Derivative Liability, Current | 10.4 | 21.3 |
Derivative Liability, Noncurrent | 31.6 | 26.7 |
Evergy Kansas Central | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 62.6 | 313.8 |
Evergy Kansas Central | Power commodity contract noncurrent | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 34.2 | 61.5 |
Evergy Kansas Central | Commodity contract current | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 26.8 | 250.7 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
FIN 39 Derivative liability netting | (16.4) | (229.4) |
Evergy Kansas Central | Commodity contract noncurrent | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 35.8 | 63.1 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
FIN 39 Derivative liability netting | (4.2) | (36.4) |
Evergy Kansas Central | Power commodity contract current | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 16.1 | 35.6 |
Evergy Kansas Central | Natural gas commodity contract current | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 10.7 | 215.1 |
Evergy Kansas Central | Natural gas commodity contract noncurrent | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 1.6 | 1.6 |
Evergy Metro | ||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
Derivative Liability, Current | 1.9 | 0.6 |
Derivative Liability, Noncurrent | 0 | 0 |
Evergy Metro | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 4.9 | 4.1 |
Evergy Metro | Commodity contract current | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 4.9 | 4.1 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
FIN 39 Derivative liability netting | (3) | (3.5) |
Evergy Metro | Commodity contract noncurrent | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
FIN 39 Derivative liability netting | 0 | 0 |
Evergy Metro | Natural gas commodity contract current | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | $ 4.9 | $ 4.1 |
Derivative Instruments Gain and
Derivative Instruments Gain and Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 2.7 | $ 38.4 | $ 20.3 | $ 65.6 |
Commodity Contract [Member] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 2.7 | 38.4 | 20.3 | 65.6 |
Evergy Kansas Central | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 2.7 | 38.4 | 20.3 | 65.6 |
Evergy Kansas Central | Commodity Contract [Member] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 2.7 | $ 38.4 | $ 20.3 | $ 65.6 |
FAIR VALUE MEASUREMENTS - Long-
FAIR VALUE MEASUREMENTS - Long-Term Debt (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Book Value | Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | $ 10,187 | $ 10,344.8 |
Fair Value | Fair Value, Measurements, Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 8,695.6 | 9,160 |
Evergy Kansas Central | Book Value | Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 4,282.4 | 3,936.9 |
Evergy Kansas Central | Fair Value | Fair Value, Measurements, Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 3,551.1 | 3,389.4 |
Evergy Metro | Book Value | Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 2,925.2 | 2,926.6 |
Evergy Metro | Fair Value | Fair Value, Measurements, Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 2,567.4 | 2,661.7 |
Long-Term debt fair value adjustment | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt gross | $ 88.4 | $ 92.1 |
FAIR VALUE MEASUREMENTS - Recur
FAIR VALUE MEASUREMENTS - Recurring (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets, Other | Other assets, Other |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other, Other | Other, Other |
Fair Value, Measurements, Recurring | ||
Assets | ||
Total nuclear decommissioning trust | $ 711.2 | $ 653.3 |
Total rabbi trust | 31.5 | 34.1 |
Derivative Asset | 48.5 | 50.3 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (30.7) | (279.5) |
Total self-insured health plan trust | 13.9 | 11.2 |
Total Assets | 805.1 | 748.9 |
Derivative Liability | 44.2 | 52.5 |
FIN 39 Derivative liability netting | (24.5) | (270.4) |
Total Liabilities | 44.2 | 52.5 |
Fair Value, Measurements, Recurring | Level 1 | ||
Assets | ||
Total nuclear decommissioning trust | 604 | 547.1 |
Total rabbi trust | 31.5 | 34.1 |
Derivative Asset, Fair Value, Gross Asset | 30.3 | 268 |
Total self-insured health plan trust | 7.7 | 5.7 |
Total Assets | 673.5 | 854.9 |
Derivative Liability, Fair Value, Gross Liability | 21.7 | 250.8 |
Total Liabilities | 21.7 | 250.8 |
Fair Value, Measurements, Recurring | Level 2 | ||
Assets | ||
Total nuclear decommissioning trust | 44.3 | 43.4 |
Total rabbi trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 33.4 | 46.6 |
Total self-insured health plan trust | 6.2 | 5.5 |
Total Assets | 83.9 | 95.5 |
Derivative Liability, Fair Value, Gross Liability | 36.9 | 59.7 |
Total Liabilities | 36.9 | 59.7 |
Fair Value, Measurements, Recurring | Level 3 | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Total rabbi trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 15.5 | 15.2 |
Total self-insured health plan trust | 0 | 0 |
Total Assets | 15.5 | 15.2 |
Derivative Liability, Fair Value, Gross Liability | 10.1 | 12.4 |
Total Liabilities | 10.1 | 12.4 |
Fair Value, Measurements, Recurring | NAV | ||
Assets | ||
Total nuclear decommissioning trust | 62.9 | 62.8 |
Total rabbi trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Total self-insured health plan trust | 0 | 0 |
Total Assets | 62.9 | 62.8 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Total Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | Power commodity contract | ||
Assets | ||
Derivative Asset | 46.5 | 43 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (20) | (64.2) |
Derivative Liability | 42.3 | 47.4 |
FIN 39 Derivative liability netting | (13.8) | (55.1) |
Fair Value, Measurements, Recurring | Power commodity contract | Level 1 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 17.8 | 45.5 |
Derivative Liability, Fair Value, Gross Liability | 9.4 | 34.2 |
Fair Value, Measurements, Recurring | Power commodity contract | Level 2 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 33.2 | 46.5 |
Derivative Liability, Fair Value, Gross Liability | 36.6 | 55.9 |
Fair Value, Measurements, Recurring | Power commodity contract | Level 3 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 15.5 | 15.2 |
Derivative Liability, Fair Value, Gross Liability | 10.1 | 12.4 |
Fair Value, Measurements, Recurring | Power commodity contract | NAV | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Fair Value, Measurements, Recurring | Natural gas commodity contract | ||
Assets | ||
Derivative Asset | 2 | 7.3 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (10.7) | (215.3) |
Derivative Liability | 1.9 | 5.1 |
FIN 39 Derivative liability netting | (10.7) | (215.3) |
Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 1 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 12.5 | 222.5 |
Derivative Liability, Fair Value, Gross Liability | 12.3 | 216.6 |
Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 2 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0.2 | 0.1 |
Derivative Liability, Fair Value, Gross Liability | 0.3 | 3.8 |
Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 3 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Fair Value, Measurements, Recurring | Natural gas commodity contract | NAV | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | $ 0 | $ 0 |
Evergy Kansas Central | ||
Assets | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets, Other | Other assets, Other |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other, Other | Other, Other |
Evergy Kansas Central | Fair Value, Measurements, Recurring | ||
Assets | ||
Total nuclear decommissioning trust | $ 347.6 | $ 318.8 |
Total rabbi trust | 23.1 | 24.9 |
Derivative Asset | 44.7 | 49.9 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (26.9) | (275) |
Total Assets | 415.4 | 393.6 |
Derivative Liability | 42 | 48 |
FIN 39 Derivative liability netting | (20.6) | (265.8) |
Total Liabilities | 42 | 48 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Core bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 53.2 | 51 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | High-yield bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 27.9 | 25.3 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Emerging markets bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 17.2 | 16 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Combination debt/equity/other fund | ||
Assets | ||
Total rabbi trust | 1.7 | 1.9 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Alternative investments fund | ||
Assets | ||
Total nuclear decommissioning trust | 35.1 | 31.8 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Real estate securities fund | ||
Assets | ||
Total nuclear decommissioning trust | 17.3 | 18.9 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Cash equivalents | ||
Assets | ||
Total nuclear decommissioning trust | 0.5 | 0.4 |
Total rabbi trust | 0.2 | 0.1 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Equity funds | ||
Assets | ||
Total rabbi trust | 6.9 | 7.3 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Fixed income funds | ||
Assets | ||
Total rabbi trust | 14.3 | 15.6 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | ||
Assets | ||
Total nuclear decommissioning trust | 284.7 | 256 |
Total rabbi trust | 23.1 | 24.9 |
Derivative Asset, Fair Value, Gross Asset | 30.3 | 268 |
Total Assets | 338.1 | 548.9 |
Derivative Liability, Fair Value, Gross Liability | 21.7 | 250.6 |
Total Liabilities | 21.7 | 250.6 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | Core bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 53.2 | 51 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | High-yield bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 27.9 | 25.3 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | Emerging markets bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 17.2 | 16 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | Combination debt/equity/other fund | ||
Assets | ||
Total rabbi trust | 1.7 | 1.9 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | Alternative investments fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | Real estate securities fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | Cash equivalents | ||
Assets | ||
Total nuclear decommissioning trust | 0.5 | 0.4 |
Total rabbi trust | 0.2 | 0.1 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | Equity funds | ||
Assets | ||
Total rabbi trust | 6.9 | 7.3 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | Fixed income funds | ||
Assets | ||
Total rabbi trust | 14.3 | 15.6 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 2 | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Total rabbi trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 33.4 | 46.6 |
Total Assets | 33.4 | 46.6 |
Derivative Liability, Fair Value, Gross Liability | 36.6 | 56 |
Total Liabilities | 36.6 | 56 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 2 | Core bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 2 | High-yield bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 2 | Emerging markets bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 2 | Combination debt/equity/other fund | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 2 | Alternative investments fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 2 | Real estate securities fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 2 | Cash equivalents | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Total rabbi trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 2 | Equity funds | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 2 | Fixed income funds | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 3 | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Total rabbi trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 7.9 | 10.3 |
Total Assets | 7.9 | 10.3 |
Derivative Liability, Fair Value, Gross Liability | 4.3 | 7.2 |
Total Liabilities | 4.3 | 7.2 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 3 | Core bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 3 | High-yield bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 3 | Emerging markets bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 3 | Combination debt/equity/other fund | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 3 | Alternative investments fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 3 | Real estate securities fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 3 | Cash equivalents | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Total rabbi trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 3 | Equity funds | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 3 | Fixed income funds | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | NAV | ||
Assets | ||
Total nuclear decommissioning trust | 62.9 | 62.8 |
Total rabbi trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Total Assets | 62.9 | 62.8 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Total Liabilities | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | NAV | Core bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | NAV | High-yield bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | NAV | Emerging markets bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | NAV | Combination debt/equity/other fund | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | NAV | Alternative investments fund | ||
Assets | ||
Total nuclear decommissioning trust | 35.1 | 31.8 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | NAV | Real estate securities fund | ||
Assets | ||
Total nuclear decommissioning trust | 17.3 | 18.9 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | NAV | Cash equivalents | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Total rabbi trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | NAV | Equity funds | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | NAV | Fixed income funds | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Power commodity contract | ||
Assets | ||
Derivative Asset | 42.7 | 42.6 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (16.2) | (59.7) |
Derivative Liability | 40.4 | 46.6 |
FIN 39 Derivative liability netting | (9.9) | (50.5) |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Power commodity contract | Level 1 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 17.8 | 45.5 |
Derivative Liability, Fair Value, Gross Liability | 9.4 | 34 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Power commodity contract | Level 2 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 33.2 | 46.5 |
Derivative Liability, Fair Value, Gross Liability | 36.6 | 55.9 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Power commodity contract | Level 3 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 7.9 | 10.3 |
Derivative Liability, Fair Value, Gross Liability | 4.3 | 7.2 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Power commodity contract | NAV | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Natural gas commodity contract | ||
Assets | ||
Derivative Asset | 2 | 7.3 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (10.7) | (215.3) |
Derivative Liability | 1.6 | 1.4 |
FIN 39 Derivative liability netting | (10.7) | (215.3) |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 1 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 12.5 | 222.5 |
Derivative Liability, Fair Value, Gross Liability | 12.3 | 216.6 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 2 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0.2 | 0.1 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0.1 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 3 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Natural gas commodity contract | NAV | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Evergy Kansas Central | Domestic | Fair Value, Measurements, Recurring | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 128.3 | 112.5 |
Evergy Kansas Central | Domestic | Fair Value, Measurements, Recurring | Level 1 | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 117.8 | 100.4 |
Evergy Kansas Central | Domestic | Fair Value, Measurements, Recurring | Level 2 | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Domestic | Fair Value, Measurements, Recurring | Level 3 | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | Domestic | Fair Value, Measurements, Recurring | NAV | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 10.5 | 12.1 |
Evergy Kansas Central | International | Fair Value, Measurements, Recurring | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 68.1 | 62.9 |
Evergy Kansas Central | International | Fair Value, Measurements, Recurring | Level 1 | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 68.1 | 62.9 |
Evergy Kansas Central | International | Fair Value, Measurements, Recurring | Level 2 | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | International | Fair Value, Measurements, Recurring | Level 3 | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Kansas Central | International | Fair Value, Measurements, Recurring | NAV | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | $ 0 | $ 0 |
Evergy Metro | ||
Assets | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets, Other | Other assets, Other |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other, Other | Other, Other |
Evergy Metro | Fair Value, Measurements, Recurring | ||
Assets | ||
Total nuclear decommissioning trust | $ 363.6 | $ 334.5 |
Derivative Asset | 0 | 0 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (3) | (3.5) |
Total self-insured health plan trust | 13.9 | 11.2 |
Total Assets | 377.5 | 345.7 |
Derivative Liability | 1.9 | 0.6 |
FIN 39 Derivative liability netting | (3) | (3.5) |
Total Liabilities | 1.9 | 0.6 |
Evergy Metro | Fair Value, Measurements, Recurring | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 271.8 | 243.4 |
Total self-insured health plan trust | 1.7 | 1.6 |
Evergy Metro | Fair Value, Measurements, Recurring | Cash equivalents | ||
Assets | ||
Total nuclear decommissioning trust | 2.7 | 6.6 |
Evergy Metro | Fair Value, Measurements, Recurring | U.S. Treasury | ||
Assets | ||
Total nuclear decommissioning trust | 44.8 | 40.7 |
Evergy Metro | Fair Value, Measurements, Recurring | U.S. Agency | ||
Assets | ||
Total nuclear decommissioning trust | 0.4 | |
Evergy Metro | Fair Value, Measurements, Recurring | State and local obligations | ||
Assets | ||
Total nuclear decommissioning trust | 3.6 | 4.2 |
Evergy Metro | Fair Value, Measurements, Recurring | Corporate bonds | ||
Assets | ||
Total nuclear decommissioning trust | 40.6 | 39.1 |
Evergy Metro | Fair Value, Measurements, Recurring | Foreign governments | ||
Assets | ||
Total nuclear decommissioning trust | 0.1 | 0.1 |
Evergy Metro | Fair Value, Measurements, Recurring | Debt securities | ||
Assets | ||
Total self-insured health plan trust | 8.3 | 8 |
Evergy Metro | Fair Value, Measurements, Recurring | Cash and cash equivalents | ||
Assets | ||
Total self-insured health plan trust | 3.9 | 1.6 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | ||
Assets | ||
Total nuclear decommissioning trust | 319.3 | 291.1 |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Total self-insured health plan trust | 7.7 | 5.7 |
Total Assets | 327 | 296.8 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Total Liabilities | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 271.8 | 243.4 |
Total self-insured health plan trust | 1.7 | 1.6 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | Cash equivalents | ||
Assets | ||
Total nuclear decommissioning trust | 2.7 | 6.6 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury | ||
Assets | ||
Total nuclear decommissioning trust | 44.8 | 40.7 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | U.S. Agency | ||
Assets | ||
Total nuclear decommissioning trust | 0.4 | |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | State and local obligations | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | Corporate bonds | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | Foreign governments | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | Debt securities | ||
Assets | ||
Total self-insured health plan trust | 2.1 | 2.5 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | Cash and cash equivalents | ||
Assets | ||
Total self-insured health plan trust | 3.9 | 1.6 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 2 | ||
Assets | ||
Total nuclear decommissioning trust | 44.3 | 43.4 |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Total self-insured health plan trust | 6.2 | 5.5 |
Total Assets | 50.5 | 48.9 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Total Liabilities | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 2 | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Total self-insured health plan trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 2 | Cash equivalents | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 2 | U.S. Agency | ||
Assets | ||
Total nuclear decommissioning trust | 0 | |
Evergy Metro | Fair Value, Measurements, Recurring | Level 2 | State and local obligations | ||
Assets | ||
Total nuclear decommissioning trust | 3.6 | 4.2 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 2 | Corporate bonds | ||
Assets | ||
Total nuclear decommissioning trust | 40.6 | 39.1 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 2 | Foreign governments | ||
Assets | ||
Total nuclear decommissioning trust | 0.1 | 0.1 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 2 | Debt securities | ||
Assets | ||
Total self-insured health plan trust | 6.2 | 5.5 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 2 | Cash and cash equivalents | ||
Assets | ||
Total self-insured health plan trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 3 | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 3 | 3.5 |
Total self-insured health plan trust | 0 | 0 |
Total Assets | 3 | 3.5 |
Derivative Liability, Fair Value, Gross Liability | 4.9 | 4.1 |
Total Liabilities | 4.9 | 4.1 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 3 | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Total self-insured health plan trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 3 | Cash equivalents | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 3 | U.S. Agency | ||
Assets | ||
Total nuclear decommissioning trust | 0 | |
Evergy Metro | Fair Value, Measurements, Recurring | Level 3 | State and local obligations | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 3 | Corporate bonds | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 3 | Foreign governments | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 3 | Debt securities | ||
Assets | ||
Total self-insured health plan trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 3 | Cash and cash equivalents | ||
Assets | ||
Total self-insured health plan trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | NAV | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Total self-insured health plan trust | 0 | 0 |
Total Assets | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Total Liabilities | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | NAV | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Total self-insured health plan trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | NAV | Cash equivalents | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | NAV | U.S. Treasury | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | NAV | U.S. Agency | ||
Assets | ||
Total nuclear decommissioning trust | 0 | |
Evergy Metro | Fair Value, Measurements, Recurring | NAV | State and local obligations | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | NAV | Corporate bonds | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | NAV | Foreign governments | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | NAV | Debt securities | ||
Assets | ||
Total self-insured health plan trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | NAV | Cash and cash equivalents | ||
Assets | ||
Total self-insured health plan trust | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Power commodity contract | ||
Assets | ||
Derivative Asset | 0 | 0 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (3) | (3.5) |
Derivative Liability | 1.9 | 0.6 |
FIN 39 Derivative liability netting | (3) | (3.5) |
Evergy Metro | Fair Value, Measurements, Recurring | Power commodity contract | Level 1 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Power commodity contract | Level 2 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Evergy Metro | Fair Value, Measurements, Recurring | Power commodity contract | Level 3 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 3 | 3.5 |
Derivative Liability, Fair Value, Gross Liability | 4.9 | 4.1 |
Evergy Metro | Fair Value, Measurements, Recurring | Power commodity contract | NAV | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | $ 0 | $ 0 |
Other Evergy | ||
Assets | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets, Other | Other assets, Other |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other, Other | Other, Other |
Other Evergy | Fair Value, Measurements, Recurring | ||
Assets | ||
Total rabbi trust | $ 8.4 | $ 9.2 |
Derivative Asset | 3.8 | 0.4 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (0.8) | (1) |
Total Assets | 12.2 | 9.6 |
Derivative Liability | 0.3 | 3.9 |
FIN 39 Derivative liability netting | (0.9) | (1.1) |
Total Liabilities | 0.3 | 3.9 |
Other Evergy | Fair Value, Measurements, Recurring | Core bond fund | ||
Assets | ||
Total rabbi trust | 8.4 | 9.2 |
Other Evergy | Fair Value, Measurements, Recurring | Level 1 | ||
Assets | ||
Total rabbi trust | 8.4 | 9.2 |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Total Assets | 8.4 | 9.2 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0.2 |
Total Liabilities | 0 | 0.2 |
Other Evergy | Fair Value, Measurements, Recurring | Level 1 | Core bond fund | ||
Assets | ||
Total rabbi trust | 8.4 | 9.2 |
Other Evergy | Fair Value, Measurements, Recurring | Level 2 | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Total Assets | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 0.3 | 3.7 |
Total Liabilities | 0.3 | 3.7 |
Other Evergy | Fair Value, Measurements, Recurring | Level 2 | Core bond fund | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Other Evergy | Fair Value, Measurements, Recurring | Level 3 | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 4.6 | 1.4 |
Total Assets | 4.6 | 1.4 |
Derivative Liability, Fair Value, Gross Liability | 0.9 | 1.1 |
Total Liabilities | 0.9 | 1.1 |
Other Evergy | Fair Value, Measurements, Recurring | Level 3 | Core bond fund | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Other Evergy | Fair Value, Measurements, Recurring | NAV | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Total Assets | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Total Liabilities | 0 | 0 |
Other Evergy | Fair Value, Measurements, Recurring | NAV | Core bond fund | ||
Assets | ||
Total rabbi trust | 0 | 0 |
Other Evergy | Fair Value, Measurements, Recurring | Power commodity contract | ||
Assets | ||
Derivative Asset | 3.8 | 0.4 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (0.8) | (1) |
Derivative Liability | 0 | 0.2 |
FIN 39 Derivative liability netting | (0.9) | (1.1) |
Other Evergy | Fair Value, Measurements, Recurring | Power commodity contract | Level 1 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0.2 |
Other Evergy | Fair Value, Measurements, Recurring | Power commodity contract | Level 2 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Other Evergy | Fair Value, Measurements, Recurring | Power commodity contract | Level 3 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 4.6 | 1.4 |
Derivative Liability, Fair Value, Gross Liability | 0.9 | 1.1 |
Other Evergy | Fair Value, Measurements, Recurring | Power commodity contract | NAV | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Other Evergy | Fair Value, Measurements, Recurring | Natural gas commodity contract | ||
Assets | ||
Derivative Liability | 0.3 | 3.7 |
FIN 39 Derivative liability netting | 0 | 0 |
Other Evergy | Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 1 | ||
Assets | ||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Other Evergy | Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 2 | ||
Assets | ||
Derivative Liability, Fair Value, Gross Liability | 0.3 | 3.7 |
Other Evergy | Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 3 | ||
Assets | ||
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Other Evergy | Fair Value, Measurements, Recurring | Natural gas commodity contract | NAV | ||
Assets | ||
Derivative Liability, Fair Value, Gross Liability | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS - NAV (
FAIR VALUE MEASUREMENTS - NAV (Details) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 USD ($) extension fund | Dec. 31, 2022 USD ($) | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Unfunded Commitments | $ 1.5 | $ 1.5 |
Evergy Kansas Central | Alternative investments fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Unfunded Commitments | 0 | 0 |
Evergy Kansas Central | Real estate securities fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Unfunded Commitments | 0 | 0 |
Domestic | Evergy Kansas Central | Equity securities | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Unfunded Commitments | $ 1.5 | 1.5 |
NAV, number of funds | fund | 5 | |
NAV, number of funds making distributions | fund | 3 | |
Domestic | Evergy Kansas Central | Equity Securities - Fourth Fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Length of settlement | 15 years | |
NAV, number of extensions | extension | 3 | |
NAV, extension term | 1 year | |
Domestic | Evergy Kansas Central | Equity Securities - Fifth Fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Length of settlement | 15 years | |
Fair Value, Measurements, Recurring | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | $ 711.2 | 653.3 |
Total rabbi trust | 31.5 | 34.1 |
Total Assets | 805.1 | 748.9 |
Fair Value, Measurements, Recurring | Evergy Kansas Central | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | 347.6 | 318.8 |
Total rabbi trust | 23.1 | 24.9 |
Total Assets | 415.4 | 393.6 |
Fair Value, Measurements, Recurring | Evergy Kansas Central | Alternative investments fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | 35.1 | 31.8 |
Fair Value, Measurements, Recurring | Evergy Kansas Central | Real estate securities fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | 17.3 | 18.9 |
Fair Value, Measurements, Recurring | Evergy Kansas Central | Core bond fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | 53.2 | 51 |
Fair Value, Measurements, Recurring | Evergy Kansas Central | Combination debt/equity/other fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total rabbi trust | 1.7 | 1.9 |
Fair Value, Measurements, Recurring | Other Evergy | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total rabbi trust | 8.4 | 9.2 |
Total Assets | 12.2 | 9.6 |
Fair Value, Measurements, Recurring | Other Evergy | Core bond fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total rabbi trust | 8.4 | 9.2 |
Fair Value, Measurements, Recurring | Domestic | Evergy Kansas Central | Equity securities | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | 128.3 | 112.5 |
NAV | Fair Value, Measurements, Recurring | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | 62.9 | 62.8 |
Total rabbi trust | 0 | 0 |
Total Assets | 62.9 | 62.8 |
NAV | Fair Value, Measurements, Recurring | Evergy Kansas Central | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | 62.9 | 62.8 |
Total rabbi trust | 0 | 0 |
Total Assets | 62.9 | 62.8 |
NAV | Fair Value, Measurements, Recurring | Evergy Kansas Central | Alternative investments fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | $ 35.1 | 31.8 |
Length of Settlement | 65 days | |
NAV | Fair Value, Measurements, Recurring | Evergy Kansas Central | Real estate securities fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | $ 17.3 | 18.9 |
Length of Settlement | 65 days | |
NAV | Fair Value, Measurements, Recurring | Evergy Kansas Central | Core bond fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | $ 0 | 0 |
NAV | Fair Value, Measurements, Recurring | Evergy Kansas Central | Combination debt/equity/other fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total rabbi trust | 0 | 0 |
NAV | Fair Value, Measurements, Recurring | Other Evergy | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total rabbi trust | 0 | 0 |
Total Assets | 0 | 0 |
NAV | Fair Value, Measurements, Recurring | Other Evergy | Core bond fund | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total rabbi trust | 0 | 0 |
NAV | Fair Value, Measurements, Recurring | Domestic | Evergy Kansas Central | Equity securities | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | $ 10.5 | $ 12.1 |
FAIR VALUE MEASUREMENTS - Gains
FAIR VALUE MEASUREMENTS - Gains (Losses) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | $ (12.8) | $ (82.3) | $ 44.4 | $ (169.7) |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Investment earnings (loss) | |||
Nuclear decommissioning trust - equity securities | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | (8.3) | (74.3) | $ 46.4 | (145.9) |
Nuclear decommissioning trust - debt securities | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | (3.4) | (5.9) | (2.6) | (16) |
Rabbi trusts - equity securities | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | (1.1) | (2.1) | 0.6 | (7.8) |
Evergy Kansas Central | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | 0.7 | (38.5) | $ 24.2 | (72.8) |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Investment earnings (loss) | |||
Evergy Kansas Central | Nuclear decommissioning trust - equity securities | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | 1.4 | (37.1) | $ 23.4 | (67.2) |
Evergy Kansas Central | Rabbi trusts - equity securities | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | (0.7) | (1.4) | 0.8 | (5.6) |
Evergy Metro | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | (13.1) | (43.1) | $ 20.4 | (94.7) |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Investment earnings (loss) | |||
Evergy Metro | Nuclear decommissioning trust - equity securities | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | (9.7) | (37.2) | $ 23 | (78.7) |
Evergy Metro | Nuclear decommissioning trust - debt securities | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | $ (3.4) | $ (5.9) | $ (2.6) | $ (16) |
RELATED PARTY TRANSACTIONS AN_3
RELATED PARTY TRANSACTIONS AND RELATIONSHIPS (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | $ (418) | $ (418) | $ (600.8) | ||
Evergy Metro | |||||
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | (180.1) | (180.1) | (252.3) | ||
Evergy Metro | Evergy Missouri West | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | 89.4 | 89.4 | 137.5 | ||
Evergy Metro | Evergy Missouri West | Operating Expenses and Capital Costs Billed | |||||
Related Party Transaction [Line Items] | |||||
Related party transaction | 8 | $ 8.4 | 24.1 | $ 23 | |
Evergy Metro | Evergy Kansas Central | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | 15.9 | 15.9 | 15.7 | ||
Evergy Metro | Evergy Kansas Central | Operating Expenses and Capital Costs Billed | |||||
Related Party Transaction [Line Items] | |||||
Related party transaction | 10.8 | 10.6 | 33.7 | 24.1 | |
Evergy Metro | Evergy | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | 17.4 | 17.4 | 16.3 | ||
Evergy Metro | Evergy | Income Tax Receivable | |||||
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | (7.3) | (7.3) | |||
Evergy Metro | Evergy | Income Taxes Payable | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | 0.2 | ||||
Evergy Metro | Related Party [Member] | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | 122.9 | 122.9 | 170.4 | ||
Due to Related Party, Current | (0.2) | (0.2) | (0.9) | ||
Evergy Metro | Related Party [Member] | Evergy Inc Money Pool | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | 0 | 0 | 31 | ||
Due to Related Party, Current | 0 | 0 | |||
Evergy Kansas Central | |||||
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | (198) | (198) | (247.3) | ||
Evergy Kansas Central | Evergy Missouri West | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | 9.3 | 9.3 | 7.4 | ||
Evergy Kansas Central | Evergy Missouri West | Operating Expenses and Capital Costs Billed | |||||
Related Party Transaction [Line Items] | |||||
Related party transaction | 29.7 | 35.7 | 86.9 | 100.7 | |
Evergy Kansas Central | Evergy Metro | |||||
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | (15.9) | (15.9) | (15.7) | ||
Evergy Kansas Central | Evergy Metro | Operating Expenses and Capital Costs Billed | |||||
Related Party Transaction [Line Items] | |||||
Related party transaction | 32.6 | $ 39.2 | 93.2 | $ 103.9 | |
Evergy Kansas Central | Evergy | |||||
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | (12.9) | (12.9) | (12.7) | ||
Evergy Kansas Central | Evergy | Income Tax Receivable | |||||
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | (10.3) | ||||
Evergy Kansas Central | Evergy | Income Taxes Payable | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | 20.2 | 20.2 | |||
Evergy Kansas Central | Related Party [Member] | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | 9.7 | 9.7 | 7.9 | ||
Due to Related Party, Current | (29.2) | (29.2) | (28.9) | ||
Evergy Kansas Central | Related Party [Member] | Evergy Inc Money Pool | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | 0 | 0 | 0 | ||
Due to Related Party, Current | $ 0 | $ 0 | $ 0 | ||
Jointly Owned Electricity Generation Plant Iatan No 1 And 2 | Evergy Missouri West | |||||
Related Party Transaction [Line Items] | |||||
Jointly owned utility plant, proportionate ownership share | 18% | 18% | |||
Jeffrey Energy Center | Evergy Missouri West | |||||
Related Party Transaction [Line Items] | |||||
Jointly owned utility plant, proportionate ownership share | 8% | 8% | |||
La Cygne Station | Evergy Kansas Central | |||||
Related Party Transaction [Line Items] | |||||
Jointly owned utility plant, proportionate ownership share | 50% | 50% |
TAXES - Income Tax Expense (Det
TAXES - Income Tax Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Current Federal Tax Expense (Benefit) | $ (17.3) | $ (4.2) | $ (6.7) | $ 20.8 |
Current State and Local Tax Expense (Benefit) | 8.2 | 6 | 20.1 | 7.7 |
Current Income Tax Expense (Benefit), Total | (9.1) | 1.8 | 13.4 | 28.5 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Deferred Federal Income Tax Expense (Benefit) | 25.7 | 50.9 | 38.9 | 55.4 |
Deferred State and Local Income Tax Expense (Benefit) | (5.9) | (1.6) | (14.8) | 1.4 |
Deferred Income Tax Expense (Benefit), Total | 19.8 | 49.3 | 24.1 | 56.8 |
Investment Tax Credits | ||||
Deferral | 2.8 | 0 | 2.8 | 2.7 |
Investment tax credit amortization | (4.7) | (1.6) | (8.3) | (4.9) |
Total | (1.9) | (1.6) | (5.5) | (2.2) |
Income Tax Expense (Benefit), Total | $ 8.8 | $ 49.5 | $ 32 | $ 83.1 |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% | 21% | 21% |
Effect Of [Abstract] | ||||
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Life Insurance, Percent | (1.80%) | (1.30%) | (1.60%) | (1.00%) |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | (0.50%) | 0.70% | (0.20%) | 0.70% |
EffectiveIncomeTaxRateReconciliationEffectOfRegulatoryTreatmentBookTaxDifferences | (9.90%) | (5.60%) | (8.70%) | (5.80%) |
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent | (6.70%) | (3.70%) | (5.90%) | (3.80%) |
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Percent | (0.40%) | (0.30%) | (0.30%) | (0.30%) |
EffectiveIncomeTaxRateReconciliationAFUDCEquity | 0.20% | (0.50%) | (0.20%) | (0.50%) |
Effective Income Tax Rate Reconciliation, Tax Credit, Investment, Percent | (0.80%) | (0.20%) | (0.70%) | (0.20%) |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | 1% | 0% | 0.60% | 0% |
Stock compensation | 0% | 0% | 0% | (0.20%) |
Officer compensation limitation | 0.30% | 0.20% | 0.30% | 0.20% |
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | 0% | 0% | 0.20% | (0.20%) |
Effective Income Tax Rate Reconciliation, Percent, Total | 2.40% | 10.30% | 4.50% | 9.90% |
Evergy Kansas Central | ||||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Current Federal Tax Expense (Benefit) | $ (7) | $ 22.3 | $ 14.5 | $ 59.1 |
Current State and Local Tax Expense (Benefit) | 3 | 3.2 | 7.9 | 2.3 |
Current Income Tax Expense (Benefit), Total | (4) | 25.5 | 22.4 | 61.4 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Deferred Federal Income Tax Expense (Benefit) | (1.1) | (8.3) | (11.8) | (38.7) |
Deferred State and Local Income Tax Expense (Benefit) | (1.8) | (0.6) | (4.1) | 1.2 |
Deferred Income Tax Expense (Benefit), Total | (2.9) | (8.9) | (15.9) | (37.5) |
Investment Tax Credits | ||||
Deferral | 2.9 | 0 | 2.9 | 2.7 |
Investment tax credit amortization | (3.9) | (1.1) | (5.8) | (3.1) |
Total | (1) | (1.1) | (2.9) | (0.4) |
Income Tax Expense (Benefit), Total | $ (7.9) | $ 15.5 | $ 3.6 | $ 23.5 |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% | 21% | 21% |
Effect Of [Abstract] | ||||
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Life Insurance, Percent | (4.30%) | (2.70%) | (3.10%) | (2.00%) |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | (2.30%) | 0.70% | (0.50%) | 0.40% |
EffectiveIncomeTaxRateReconciliationEffectOfRegulatoryTreatmentBookTaxDifferences | (6.20%) | (3.60%) | (4.50%) | (3.90%) |
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent | (16.30%) | (7.70%) | (11.70%) | (8.00%) |
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Percent | (0.90%) | (0.60%) | (0.70%) | (0.60%) |
EffectiveIncomeTaxRateReconciliationAFUDCEquity | 0.30% | (0.70%) | (0.20%) | (0.70%) |
Effective Income Tax Rate Reconciliation, Tax Credit, Investment, Percent | (0.80%) | 0.10% | (0.60%) | 0.10% |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | 2.80% | 0% | 1.10% | 0% |
Stock compensation | 0% | 0% | 0% | (0.20%) |
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | 0.40% | 0.10% | 0.30% | (0.30%) |
Effective Income Tax Rate Reconciliation, Percent, Total | (6.30%) | 6.60% | 1.10% | 5.80% |
Evergy Metro | ||||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Current Federal Tax Expense (Benefit) | $ 0.1 | $ (22.5) | $ (1.7) | $ (20) |
Current State and Local Tax Expense (Benefit) | 3.7 | 2.1 | 8.9 | 3.2 |
Current Income Tax Expense (Benefit), Total | 3.8 | (20.4) | 7.2 | (16.8) |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Deferred Federal Income Tax Expense (Benefit) | 23 | 54.3 | 43.5 | 73.9 |
Deferred State and Local Income Tax Expense (Benefit) | (2.2) | (0.1) | (5.8) | (0.1) |
Deferred Income Tax Expense (Benefit), Total | 20.8 | 54.2 | 37.7 | 73.8 |
Investment Tax Credits | ||||
Investment tax credit amortization | (0.9) | (0.6) | (2.6) | (1.8) |
Income Tax Expense (Benefit), Total | $ 23.7 | $ 33.2 | $ 42.3 | $ 55.2 |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% | 21% | 21% |
Effect Of [Abstract] | ||||
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Life Insurance, Percent | (0.10%) | (0.10%) | (0.10%) | (0.10%) |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 0.60% | 0.70% | 0.70% | 0.60% |
EffectiveIncomeTaxRateReconciliationEffectOfRegulatoryTreatmentBookTaxDifferences | (8.70%) | (6.30%) | (8.50%) | (6.50%) |
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent | (0.30%) | (0.10%) | (0.20%) | (0.10%) |
EffectiveIncomeTaxRateReconciliationAFUDCEquity | 0.20% | (0.40%) | (0.30%) | (0.40%) |
Effective Income Tax Rate Reconciliation, Tax Credit, Investment, Percent | (0.90%) | (0.50%) | (0.90%) | (0.60%) |
Stock compensation | 0% | 0% | 0.20% | (0.20%) |
Officer compensation limitation | 0.50% | 0.40% | 0.50% | 0.50% |
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | (0.10%) | 0% | (0.10%) | (0.10%) |
Effective Income Tax Rate Reconciliation, Percent, Total | 12.20% | 14.70% | 12.30% | 14.10% |