Cover Page
Cover Page - shares | 6 Months Ended | |
Jun. 30, 2024 | Jul. 31, 2024 | |
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2024 | |
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 | 229,958,436 | |
Entity Central Index Key | 0001711269 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2024 | |
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 | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
CURRENT ASSETS: | ||||||
Cash and cash equivalents | $ 26.1 | $ 27.7 | ||||
Receivables, net of allowance for credit losses of $18.0 and $24.2, respectively | 429.3 | 256.9 | ||||
Accounts receivable pledged as collateral | 329 | 342 | ||||
Fuel inventory and supplies | 806.7 | 776.2 | ||||
Income taxes receivable | 0 | 11.5 | ||||
Regulatory assets, includes $15.4 and $— related to variable interest entity, respectively | 252 | 292.1 | ||||
Prepaid expenses | 73.3 | 51.3 | ||||
Other | 47.6 | 31.4 | ||||
Total Current Assets | 1,964 | 1,789.1 | ||||
PROPERTY, PLANT AND EQUIPMENT, NET, includes $130.0 and $133.6 related to variable interest entity, respectively | 24,301.4 | 23,728.7 | ||||
OTHER ASSETS: | ||||||
Regulatory assets, includes $302.6 and $— related to variable interest entity, respectively | 1,843.5 | 1,795.3 | ||||
Nuclear decommissioning trust | 827.7 | 766.4 | ||||
Goodwill | 2,336.6 | 2,336.6 | ||||
Other | 557.8 | 560 | ||||
Total Other Assets | 5,565.6 | 5,458.3 | ||||
TOTAL ASSETS | 31,831 | 30,976.1 | ||||
CURRENT LIABILITIES: | ||||||
Current maturities of long-term debt, includes $19.5 and $— related to variable interest entity, respectively | 819.5 | 800 | ||||
Commercial paper | 969.7 | 951.8 | ||||
Collateralized note payable | 329 | 342 | ||||
Accounts payable | 374.3 | 616.9 | ||||
Accrued taxes | 234.8 | 156.7 | ||||
Accrued interest, includes $6.0 and $— related to variable interest entity, respectively | 117.1 | 134.2 | ||||
Regulatory liabilities | 143.5 | 183 | ||||
Asset retirement obligations | 44.9 | 40.3 | ||||
Accrued compensation and benefits | 58.3 | 74.5 | ||||
Other | 219.7 | 213.2 | ||||
Total Current Liabilities | 3,310.8 | 3,512.6 | ||||
LONG-TERM LIABILITIES: | ||||||
Long-term debt, net, includes $303.6 and $— related to variable interest entity, respectively | 11,954.6 | 11,053.3 | ||||
Deferred income taxes | 2,146.1 | 2,097.9 | ||||
Unamortized investment tax credits | 166.4 | 170 | ||||
Regulatory liabilities | 2,486.7 | 2,542.5 | ||||
Pension and post-retirement liability | 486.6 | 464.1 | ||||
Asset retirement obligations | 1,252.4 | 1,162.8 | ||||
Other | 295.7 | 287.9 | ||||
Total Long-Term Liabilities | 18,788.5 | 17,778.5 | ||||
Evergy, Inc. Shareholders' Equity: | ||||||
Common stock | 7,239.2 | 7,234.9 | ||||
Retained earnings | 2,491.3 | 2,457.8 | ||||
Accumulated other comprehensive loss | (26.9) | (29.6) | ||||
Total Evergy, Inc. Shareholders' Equity | 9,703.6 | 9,663.1 | ||||
Noncontrolling Interests | 28.1 | 21.9 | ||||
Total Equity | 9,731.7 | $ 9,664.1 | 9,685 | $ 9,550.7 | $ 9,501.7 | $ 9,493.3 |
TOTAL LIABILITIES AND EQUITY | 31,831 | 30,976.1 | ||||
Variable Interest Entities | ||||||
CURRENT ASSETS: | ||||||
Regulatory assets, includes $15.4 and $— related to variable interest entity, respectively | 15.4 | 0 | ||||
PROPERTY, PLANT AND EQUIPMENT, NET, includes $130.0 and $133.6 related to variable interest entity, respectively | 130 | 133.6 | ||||
OTHER ASSETS: | ||||||
Regulatory assets, includes $302.6 and $— related to variable interest entity, respectively | 302.6 | 0 | ||||
CURRENT LIABILITIES: | ||||||
Current maturities of long-term debt, includes $19.5 and $— related to variable interest entity, respectively | 19.5 | 0 | ||||
Accrued interest, includes $6.0 and $— related to variable interest entity, respectively | 6 | 0 | ||||
LONG-TERM LIABILITIES: | ||||||
Long-term debt, net, includes $303.6 and $— related to variable interest entity, respectively | $ 303.6 | $ 0 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Allowance for credit losses | $ 18 | $ 24.2 |
Regulatory assets | 252 | 292.1 |
PROPERTY, PLANT AND EQUIPMENT, NET, includes $130.0 and $133.6 related to variable interest entity, respectively | 24,301.4 | 23,728.7 |
Current maturities of long-term debt | 819.5 | 800 |
Long-term debt, net | $ 11,954.6 | $ 11,053.3 |
Common stock - shares authorized (in shares) | 600,000,000 | 600,000,000 |
Common stock - shares issued (in shares) | 229,954,524 | 229,729,296 |
Variable Interest Entities | ||
Regulatory assets | $ 15.4 | $ 0 |
PROPERTY, PLANT AND EQUIPMENT, NET, includes $130.0 and $133.6 related to variable interest entity, respectively | 130 | 133.6 |
Current maturities of long-term debt | 19.5 | 0 |
Long-term debt, net | $ 303.6 | $ 0 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Income Statement [Abstract] | ||||
OPERATING REVENUES | $ 1,447.5 | $ 1,354.2 | $ 2,778.5 | $ 2,651 |
OPERATING EXPENSES: | ||||
Fuel and purchased power | 359 | 344.8 | 735.4 | 699 |
SPP network transmission costs | 100 | 75.4 | 172.7 | 156.6 |
Operating and maintenance | 237.7 | 227.6 | 469.2 | 443.9 |
Depreciation and amortization | 280.1 | 269.4 | 556.2 | 532.8 |
Taxes other than income tax | 112.6 | 100.4 | 226.7 | 202.8 |
Total Operating Expenses | 1,089.4 | 1,017.6 | 2,160.2 | 2,035.1 |
INCOME FROM OPERATIONS | 358.1 | 336.6 | 618.3 | 615.9 |
OTHER INCOME (EXPENSE): | ||||
Investment earnings | 2.6 | 6.7 | 7.9 | 15.8 |
Other income | 9.8 | 2.6 | 18.3 | 14.8 |
Other expense | (11.4) | (21) | (20.9) | (42.3) |
Total Other Income (Expense), Net | 1 | (11.7) | 5.3 | (11.7) |
Interest expense | 143.6 | 133.7 | 276.8 | 256.8 |
INCOME BEFORE INCOME TAXES | 215.5 | 191.2 | 346.8 | 347.4 |
Income tax expense | 7.4 | 10.8 | 14.7 | 23.2 |
Equity in earnings of equity method investees, net of income taxes | 2 | 1.8 | 3.8 | 3.7 |
NET INCOME | 210.1 | 182.2 | 335.9 | 327.9 |
Less: Net income attributable to noncontrolling interests | 3.1 | 3.1 | 6.2 | 6.2 |
Net income attributable to Evergy, Inc. | $ 207 | $ 179.1 | $ 329.7 | $ 321.7 |
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) | $ 0.90 | $ 0.78 | $ 1.43 | $ 1.40 |
Diluted earnings per common share (in dollars per share) | $ 0.90 | $ 0.78 | $ 1.43 | $ 1.40 |
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | ||||
Basic (in shares) | 230.3 | 230.1 | 230.2 | 230 |
Diluted (in shares) | 230.5 | 230.5 | 230.5 | 230.4 |
COMPREHENSIVE INCOME | ||||
NET INCOME | $ 210.1 | $ 182.2 | $ 335.9 | $ 327.9 |
Derivative hedging activity | ||||
Reclassification to expenses, net of tax | 1.4 | 1.3 | 2.7 | 2.6 |
Derivative hedging activity, net of tax | 1.4 | 1.3 | 2.7 | 2.6 |
Defined benefit pension plans | ||||
Total other comprehensive income | 1.4 | 1.3 | 2.7 | 2.6 |
COMPREHENSIVE INCOME | 211.5 | 183.5 | 338.6 | 330.5 |
Less: Comprehensive income attributable to noncontrolling interest | 3.1 | 3.1 | 6.2 | 6.2 |
COMPREHENSIVE INCOME | $ 208.4 | $ 180.4 | $ 332.4 | $ 324.3 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES: | ||
Net income | $ 335.9 | $ 327.9 |
Adjustments to reconcile income to net cash from operating activities: | ||
Depreciation and amortization | 556.2 | 532.8 |
Amortization of nuclear fuel | 24.4 | 30.6 |
Amortization of deferred refueling outage | 9.3 | 9.1 |
Amortization of corporate-owned life insurance | 11.9 | 12.5 |
Stock compensation | 8.1 | 11.5 |
Net deferred income taxes and credits | (13.5) | 0.7 |
Allowance for equity funds used during construction | (7.8) | (4.7) |
Payments for asset retirement obligations | (7) | (4.8) |
Equity in earnings of equity method investees, net of income taxes | (3.8) | (3.7) |
Income from corporate-owned life insurance | (11.4) | (9) |
Other | (0.7) | 0.8 |
Changes in working capital items: | ||
Accounts receivable | (132) | 5.6 |
Accounts receivable pledged as collateral | 13 | 12 |
Fuel inventory and supplies | (28.7) | (55.9) |
Prepaid expenses and other current assets | 62 | 48.3 |
Accounts payable | (129.9) | (196.9) |
Accrued taxes | 89.6 | 79.8 |
Other current liabilities | (118.6) | (77.9) |
Changes in other assets | (9.6) | 13.5 |
Changes in other liabilities | (12.6) | (17) |
Cash Flows from Operating Activities | 634.8 | 715.2 |
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: | ||
Additions to property, plant and equipment | (1,296.1) | (1,104.2) |
Acquisition of Persimmon Creek, net of cash acquired | 0 | (217.9) |
Purchase of securities - trusts | (60.8) | (22) |
Sale of securities - trusts | 56.9 | 15.3 |
Investment in corporate-owned life insurance | (15.1) | (15.7) |
Proceeds from investment in corporate-owned life insurance | 44.1 | 42.4 |
Other investing activities | 0.9 | (5.3) |
Cash Flows used in Investing Activities | (1,270.1) | (1,307.4) |
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: | ||
Short-term debt, net | 17.9 | 537.4 |
Collateralized short-term borrowings, net | (13) | (12) |
Proceeds from long-term debt | 920.7 | 690.5 |
Retirements of long-term debt | 0 | (350) |
Borrowings against cash surrender value of corporate-owned life insurance | 49.1 | 51 |
Repayment of borrowings against cash surrender value of corporate-owned life insurance | (29.6) | (32.6) |
Cash dividends paid | (295.4) | (281.3) |
Other financing activities | (6.6) | (4.6) |
Cash Flows from Financing Activities | 643.1 | 598.4 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 7.8 | 6.2 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||
Beginning of period | 27.7 | 25.2 |
End of period | $ 35.5 | $ 31.4 |
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, 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) | |||
Dividend equivalents declared | (0.4) | (0.4) | |||
Stock compensation expense | 4.7 | 4.7 | |||
Unearned compensation | |||||
Compensation expense recognized | 0.1 | 0.1 | |||
Derivative hedging activity, net of tax | 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 | 327.9 | ||||
Unearned compensation | |||||
Derivative hedging activity, net of tax | 2.6 | ||||
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 |
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) | |||
Dividend equivalents declared | (0.6) | (0.6) | |||
Stock compensation expense | 6.6 | 6.6 | |||
Unearned compensation | |||||
Compensation expense recognized | 0.1 | 0.1 | |||
Derivative hedging activity, net of tax | 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 |
Beginning balance (in shares) at Dec. 31, 2023 | 229,729,296 | ||||
Beginning balance at Dec. 31, 2023 | 9,685 | $ 7,234.9 | 2,457.8 | (29.6) | 21.9 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 125.8 | 122.7 | 3.1 | ||
Issuance of stock compensation and reinvested dividends, net of tax withholding (in shares) | 193,042 | ||||
Issuance of stock, net issuance costs | (4) | $ (4) | |||
Dividends declared on common stock | (147.7) | (147.7) | |||
Dividend equivalents declared | (0.4) | (0.4) | |||
Stock compensation expense | 3.9 | 3.9 | |||
Unearned compensation | |||||
Derivative hedging activity, net of tax | 1.3 | 1.3 | |||
Other | 0.2 | $ 0.2 | |||
Ending balance (in shares) at Mar. 31, 2024 | 229,922,338 | ||||
Ending balance at Mar. 31, 2024 | 9,664.1 | $ 7,235 | 2,432.4 | (28.3) | 25 |
Beginning balance (in shares) at Dec. 31, 2023 | 229,729,296 | ||||
Beginning balance at Dec. 31, 2023 | 9,685 | $ 7,234.9 | 2,457.8 | (29.6) | 21.9 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 335.9 | ||||
Unearned compensation | |||||
Derivative hedging activity, net of tax | 2.7 | ||||
Ending balance (in shares) at Jun. 30, 2024 | 229,954,524 | ||||
Ending balance at Jun. 30, 2024 | 9,731.7 | $ 7,239.2 | 2,491.3 | (26.9) | 28.1 |
Beginning balance (in shares) at Mar. 31, 2024 | 229,922,338 | ||||
Beginning balance at Mar. 31, 2024 | 9,664.1 | $ 7,235 | 2,432.4 | (28.3) | 25 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 210.1 | 207 | 3.1 | ||
Issuance of stock compensation and reinvested dividends, net of tax withholding (in shares) | 32,186 | ||||
Issuance of stock, net issuance costs | (0.1) | $ (0.1) | |||
Dividends declared on common stock | (147.7) | (147.7) | |||
Dividend equivalents declared | (0.4) | (0.4) | |||
Stock compensation expense | 4.2 | 4.2 | |||
Unearned compensation | |||||
Derivative hedging activity, net of tax | 1.4 | 1.4 | |||
Other | 0.1 | $ 0.1 | |||
Ending balance (in shares) at Jun. 30, 2024 | 229,954,524 | ||||
Ending balance at Jun. 30, 2024 | $ 9,731.7 | $ 7,239.2 | $ 2,491.3 | $ (26.9) | $ 28.1 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares | 3 Months Ended | |||
Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | |
Statement of Stockholders' Equity [Abstract] | ||||
Dividends declared on common stock (in dollars per share) | $ 0.6425 | $ 0.6425 | $ 0.6125 | $ 0.6125 |
Consolidated Balance Sheets - E
Consolidated Balance Sheets - Evergy Kansas Central, Inc - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 26.1 | $ 27.7 |
Receivables, net of allowance for credit losses of $8.8 and $11.6, respectively | 429.3 | 256.9 |
Accounts receivable pledged as collateral | 329 | 342 |
Fuel inventory and supplies | 806.7 | 776.2 |
Income taxes receivable | 0 | 11.5 |
Regulatory assets | 252 | 292.1 |
Prepaid expenses | 73.3 | 51.3 |
Other | 47.6 | 31.4 |
Total Current Assets | 1,964 | 1,789.1 |
PROPERTY, PLANT AND EQUIPMENT, NET, includes $130.0 and $133.6 related to variable interest entity, respectively | 24,301.4 | 23,728.7 |
OTHER ASSETS: | ||
Regulatory assets | 1,843.5 | 1,795.3 |
Nuclear decommissioning trust | 827.7 | 766.4 |
Other | 557.8 | 560 |
Total Other Assets | 5,565.6 | 5,458.3 |
TOTAL ASSETS | 31,831 | 30,976.1 |
CURRENT LIABILITIES: | ||
Current maturities of long-term debt | 819.5 | 800 |
Commercial paper | 969.7 | 951.8 |
Collateralized note payable | 329 | 342 |
Accounts payable | 374.3 | 616.9 |
Accrued taxes | 234.8 | 156.7 |
Accrued interest, includes $6.0 and $— related to variable interest entity, respectively | 117.1 | 134.2 |
Regulatory liabilities | 143.5 | 183 |
Asset retirement obligations | 44.9 | 40.3 |
Accrued compensation and benefits | 58.3 | 74.5 |
Other | 219.7 | 213.2 |
Total Current Liabilities | 3,310.8 | 3,512.6 |
LONG-TERM LIABILITIES: | ||
Long-term debt, net | 11,954.6 | 11,053.3 |
Deferred income taxes | 2,146.1 | 2,097.9 |
Unamortized investment tax credits | 166.4 | 170 |
Regulatory liabilities | 2,486.7 | 2,542.5 |
Pension and post-retirement liability | 486.6 | 464.1 |
Asset retirement obligations | 1,252.4 | 1,162.8 |
Other | 295.7 | 287.9 |
Total Long-Term Liabilities | 18,788.5 | 17,778.5 |
Commitments and Contingencies (Note $12) | ||
Evergy, Inc. Shareholders' Equity: | ||
Common stock | 7,239.2 | 7,234.9 |
Retained earnings | 2,491.3 | 2,457.8 |
Total Evergy, Inc. Shareholders' Equity | 9,703.6 | 9,663.1 |
Noncontrolling Interests | 28.1 | 21.9 |
Total Equity | 9,731.7 | 9,685 |
TOTAL LIABILITIES AND EQUITY | 31,831 | 30,976.1 |
Evergy Kansas Central | ||
CURRENT ASSETS: | ||
Cash and cash equivalents | 7 | 9.2 |
Receivables, net of allowance for credit losses of $8.8 and $11.6, respectively | 238 | 171.8 |
Accounts receivable pledged as collateral | 169 | 166 |
Fuel inventory and supplies | 430.8 | 411.9 |
Income taxes receivable | 0 | 11.5 |
Regulatory assets | 113.3 | 127.7 |
Prepaid expenses | 34.6 | 22.9 |
Other | 11.9 | 13.2 |
Total Current Assets | 1,021.8 | 945.8 |
PROPERTY, PLANT AND EQUIPMENT, NET, includes $130.0 and $133.6 related to variable interest entity, respectively | 12,441.7 | 12,121.9 |
OTHER ASSETS: | ||
Regulatory assets | 543.8 | 505.2 |
Nuclear decommissioning trust | 387.6 | 365.1 |
Other | 269.8 | 288.6 |
Total Other Assets | 1,201.2 | 1,158.9 |
TOTAL ASSETS | 14,664.7 | 14,226.6 |
CURRENT LIABILITIES: | ||
Commercial paper | 595.6 | 230.4 |
Collateralized note payable | 169 | 166 |
Accounts payable | 191.9 | 244.7 |
Accrued taxes | 116.6 | 111.1 |
Accrued interest, includes $6.0 and $— related to variable interest entity, respectively | 53.8 | 79.7 |
Regulatory liabilities | 73.3 | 104.1 |
Asset retirement obligations | 25.9 | 22.2 |
Accrued compensation and benefits | 31 | 37.6 |
Other | 143.3 | 142.4 |
Total Current Liabilities | 1,594.1 | 1,432.6 |
LONG-TERM LIABILITIES: | ||
Long-term debt, net | 4,581.8 | 4,580.4 |
Deferred income taxes | 852.1 | 844.2 |
Unamortized investment tax credits | 54.3 | 56.2 |
Regulatory liabilities | 1,400.9 | 1,432.4 |
Pension and post-retirement liability | 265.9 | 256.3 |
Asset retirement obligations | 630.1 | 577.1 |
Other | 157.5 | 155.5 |
Total Long-Term Liabilities | 7,942.6 | 7,902.1 |
Commitments and Contingencies (Note $12) | ||
Evergy, Inc. Shareholders' Equity: | ||
Common stock | 2,737.6 | 2,737.6 |
Retained earnings | 2,362.3 | 2,132.4 |
Total Evergy, Inc. Shareholders' Equity | 5,099.9 | 4,870 |
Noncontrolling Interests | 28.1 | 21.9 |
Total Equity | 5,128 | 4,891.9 |
TOTAL LIABILITIES AND EQUITY | 14,664.7 | 14,226.6 |
Related Party [Member] | Evergy Kansas Central | ||
CURRENT ASSETS: | ||
Related party receivables | 17.2 | 11.6 |
CURRENT LIABILITIES: | ||
Accounts payable | 193.7 | 294.4 |
Variable Interest Entities | ||
CURRENT ASSETS: | ||
Regulatory assets | 15.4 | 0 |
PROPERTY, PLANT AND EQUIPMENT, NET, includes $130.0 and $133.6 related to variable interest entity, respectively | 130 | 133.6 |
OTHER ASSETS: | ||
Regulatory assets | 302.6 | 0 |
CURRENT LIABILITIES: | ||
Current maturities of long-term debt | 19.5 | 0 |
Accrued interest, includes $6.0 and $— related to variable interest entity, respectively | 6 | 0 |
LONG-TERM LIABILITIES: | ||
Long-term debt, net | 303.6 | 0 |
Variable Interest Entities | Evergy Kansas Central | ||
CURRENT ASSETS: | ||
PROPERTY, PLANT AND EQUIPMENT, NET, includes $130.0 and $133.6 related to variable interest entity, respectively | $ 130 | $ 133.6 |
Consolidated Balance Sheets -_2
Consolidated Balance Sheets - Evergy Kansas Central, Inc (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Allowance for credit losses | $ 18 | $ 24.2 |
Property, plant and equipment, net | $ 24,301.4 | $ 23,728.7 |
Common stock - shares authorized (in shares) | 600,000,000 | 600,000,000 |
Common stock - shares issued (in shares) | 229,954,524 | 229,729,296 |
Evergy Kansas Central | ||
Allowance for credit losses | $ 8.8 | $ 11.6 |
Property, plant and equipment, net | $ 12,441.7 | $ 12,121.9 |
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 | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
OPERATING REVENUES | $ 1,447.5 | $ 1,354.2 | $ 2,778.5 | $ 2,651 |
OPERATING EXPENSES: | ||||
Fuel and purchased power | 359 | 344.8 | 735.4 | 699 |
SPP network transmission costs | 100 | 75.4 | 172.7 | 156.6 |
Operating and maintenance | 237.7 | 227.6 | 469.2 | 443.9 |
Depreciation and amortization | 280.1 | 269.4 | 556.2 | 532.8 |
Taxes other than income tax | 112.6 | 100.4 | 226.7 | 202.8 |
Total Operating Expenses | 1,089.4 | 1,017.6 | 2,160.2 | 2,035.1 |
INCOME FROM OPERATIONS | 358.1 | 336.6 | 618.3 | 615.9 |
OTHER INCOME (EXPENSE): | ||||
Investment earnings (loss) | 2.6 | 6.7 | 7.9 | 15.8 |
Other income | 9.8 | 2.6 | 18.3 | 14.8 |
Other expense | (11.4) | (21) | (20.9) | (42.3) |
Total Other Expense, Net | 1 | (11.7) | 5.3 | (11.7) |
Interest expense | 143.6 | 133.7 | 276.8 | 256.8 |
INCOME BEFORE INCOME TAXES | 215.5 | 191.2 | 346.8 | 347.4 |
Income tax expense | 7.4 | 10.8 | 14.7 | 23.2 |
Equity in earnings of equity method investees, net of income taxes | 2 | 1.8 | 3.8 | 3.7 |
NET INCOME | 210.1 | 182.2 | 335.9 | 327.9 |
Less: Net income attributable to noncontrolling interests | 3.1 | 3.1 | 6.2 | 6.2 |
Net income attributable to Evergy, Inc. | 207 | 179.1 | 329.7 | 321.7 |
Evergy Kansas Central | ||||
OPERATING REVENUES | 727.3 | 639.6 | 1,420.5 | 1,318.2 |
OPERATING EXPENSES: | ||||
Fuel and purchased power | 124 | 113.8 | 262.6 | 258.2 |
SPP network transmission costs | 100 | 75.4 | 172.7 | 156.6 |
Operating and maintenance | 117.3 | 115.6 | 233.6 | 223.2 |
Depreciation and amortization | 140.6 | 128.7 | 279.7 | 252.8 |
Taxes other than income tax | 62.7 | 54.5 | 125.9 | 110.2 |
Total Operating Expenses | 544.6 | 488 | 1,074.5 | 1,001 |
INCOME FROM OPERATIONS | 182.7 | 151.6 | 346 | 317.2 |
OTHER INCOME (EXPENSE): | ||||
Investment earnings (loss) | 0.4 | 0.4 | 1.3 | 1.7 |
Other income | 7.5 | 1.1 | 15.7 | 10.3 |
Other expense | (5.8) | (8.7) | (9.5) | (18.6) |
Total Other Expense, Net | 2.1 | (7.2) | 7.5 | (6.6) |
Interest expense | 58.2 | 54.4 | 114 | 106.8 |
INCOME BEFORE INCOME TAXES | 126.6 | 90 | 239.5 | 203.8 |
Income tax expense | 2.9 | 3.1 | 5 | 11.5 |
Equity in earnings of equity method investees, net of income taxes | 0.8 | 1 | 1.6 | 2 |
NET INCOME | 124.5 | 87.9 | 236.1 | 194.3 |
Less: Net income attributable to noncontrolling interests | 3.1 | 3.1 | 6.2 | 6.2 |
Net income attributable to Evergy, Inc. | $ 121.4 | $ 84.8 | $ 229.9 | $ 188.1 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows - Evergy Kansas Central, Inc - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES: | ||
Net income | $ 335.9 | $ 327.9 |
Adjustments to reconcile income to net cash from operating activities: | ||
Depreciation and amortization | 556.2 | 532.8 |
Amortization of nuclear fuel | 24.4 | 30.6 |
Amortization of deferred refueling outage | 9.3 | 9.1 |
Amortization of corporate-owned life insurance | 11.9 | 12.5 |
Stock compensation | 8.1 | 11.5 |
Net deferred income taxes and credits | (13.5) | 0.7 |
Allowance for equity funds used during construction | (7.8) | (4.7) |
Payments for asset retirement obligations | (7) | (4.8) |
Equity in earnings of equity method investees, net of income taxes | (3.8) | (3.7) |
Income from corporate-owned life insurance | (11.4) | (9) |
Other | (0.7) | 0.8 |
Changes in working capital items: | ||
Accounts receivable | (132) | 5.6 |
Accounts receivable pledged as collateral | 13 | 12 |
Fuel inventory and supplies | (28.7) | (55.9) |
Prepaid expenses and other current assets | 62 | 48.3 |
Accounts payable | (129.9) | (196.9) |
Accrued taxes | 89.6 | 79.8 |
Other current liabilities | (118.6) | (77.9) |
Changes in other assets | (9.6) | 13.5 |
Changes in other liabilities | (12.6) | (17) |
Cash Flows from Operating Activities | 634.8 | 715.2 |
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: | ||
Additions to property, plant and equipment | (1,296.1) | (1,104.2) |
Acquisition of Persimmon Creek, net of cash acquired | 0 | (217.9) |
Purchase of securities - trusts | (60.8) | (22) |
Sale of securities - trusts | 56.9 | 15.3 |
Investment in corporate-owned life insurance | (15.1) | (15.7) |
Proceeds from investment in corporate-owned life insurance | 44.1 | 42.4 |
Other investing activities | 0.9 | (5.3) |
Cash Flows used in Investing Activities | (1,270.1) | (1,307.4) |
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: | ||
Short-term debt, net | 17.9 | 537.4 |
Collateralized short-term debt, net | (13) | (12) |
Proceeds from long-term debt | 920.7 | 690.5 |
Retirements of long-term debt | 0 | (350) |
Borrowings against cash surrender value of corporate-owned life insurance | 49.1 | 51 |
Repayment of borrowings against cash surrender value of corporate-owned life insurance | (29.6) | (32.6) |
Cash dividends paid | (295.4) | (281.3) |
Other financing activities | (6.6) | (4.6) |
Cash Flows from Financing Activities | 643.1 | 598.4 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 7.8 | 6.2 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||
Beginning of period | 27.7 | 25.2 |
End of period | 35.5 | 31.4 |
Evergy Kansas Central | ||
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES: | ||
Net income | 236.1 | 194.3 |
Adjustments to reconcile income to net cash from operating activities: | ||
Depreciation and amortization | 279.7 | 252.8 |
Amortization of nuclear fuel | 12.2 | 15.2 |
Amortization of deferred refueling outage | 4.7 | 4.6 |
Amortization of corporate-owned life insurance | 11.9 | 12.5 |
Net deferred income taxes and credits | (16.8) | (15) |
Allowance for equity funds used during construction | (6.7) | (1.2) |
Payments for asset retirement obligations | (4.5) | (3.9) |
Equity in earnings of equity method investees, net of income taxes | (1.6) | (2) |
Income from corporate-owned life insurance | (11.4) | (9) |
Other | (2.7) | (2.7) |
Changes in working capital items: | ||
Accounts receivable | (43.7) | 55.2 |
Accounts receivable pledged as collateral | (3) | 13 |
Fuel inventory and supplies | (18.7) | (40.8) |
Prepaid expenses and other current assets | 27.3 | 15.9 |
Accounts payable | (2.8) | (42.8) |
Accrued taxes | 17 | (25.2) |
Other current liabilities | (110.3) | (52.3) |
Changes in other assets | (11) | 9.6 |
Changes in other liabilities | (7.8) | 12.2 |
Cash Flows from Operating Activities | 347.9 | 390.4 |
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: | ||
Additions to property, plant and equipment | (657.2) | (579.9) |
Acquisition of Persimmon Creek, net of cash acquired | 0 | (217.9) |
Purchase of securities - trusts | (7.2) | (6.5) |
Sale of securities - trusts | 6.8 | 4.9 |
Investment in corporate-owned life insurance | (15.1) | (15.7) |
Proceeds from investment in corporate-owned life insurance | 44.1 | 42.4 |
Other investing activities | (1.1) | 0.3 |
Cash Flows used in Investing Activities | (629.7) | (772.4) |
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: | ||
Short-term debt, net | 365.2 | 41 |
Collateralized short-term debt, net | 3 | (13) |
Proceeds from long-term debt | 0 | 393.3 |
Retirements of long-term debt | 0 | (50) |
Net money pool borrowings | (103.6) | 0 |
Borrowings against cash surrender value of corporate-owned life insurance | 45.9 | 48 |
Repayment of borrowings against cash surrender value of corporate-owned life insurance | (29.6) | (32.6) |
Other financing activities | (1.3) | (1.2) |
Cash Flows from Financing Activities | 279.6 | 385.5 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (2.2) | 3.5 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||
Beginning of period | 9.2 | 8.7 |
End of period | $ 7 | $ 12.2 |
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, 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 | 327.9 | 194.3 | ||||||
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 | 15.8 | 4,701.7 | $ 2,737.6 | 1,948.3 | 15.8 |
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 |
Beginning balance (in shares) at Dec. 31, 2023 | 229,729,296 | 1 | ||||||
Beginning balance at Dec. 31, 2023 | 9,685 | $ 7,234.9 | 2,457.8 | 21.9 | 4,891.9 | $ 2,737.6 | 2,132.4 | 21.9 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 125.8 | 122.7 | 3.1 | 111.6 | 108.5 | 3.1 | ||
Dividends declared on common stock | (147.7) | (147.7) | ||||||
Ending balance (in shares) at Mar. 31, 2024 | 229,922,338 | 1 | ||||||
Ending balance at Mar. 31, 2024 | 9,664.1 | $ 7,235 | 2,432.4 | 25 | 5,003.5 | $ 2,737.6 | 2,240.9 | 25 |
Beginning balance (in shares) at Dec. 31, 2023 | 229,729,296 | 1 | ||||||
Beginning balance at Dec. 31, 2023 | 9,685 | $ 7,234.9 | 2,457.8 | 21.9 | 4,891.9 | $ 2,737.6 | 2,132.4 | 21.9 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 335.9 | 236.1 | ||||||
Ending balance (in shares) at Jun. 30, 2024 | 229,954,524 | 1 | ||||||
Ending balance at Jun. 30, 2024 | 9,731.7 | $ 7,239.2 | 2,491.3 | 28.1 | 5,128 | $ 2,737.6 | 2,362.3 | 28.1 |
Beginning balance (in shares) at Mar. 31, 2024 | 229,922,338 | 1 | ||||||
Beginning balance at Mar. 31, 2024 | 9,664.1 | $ 7,235 | 2,432.4 | 25 | 5,003.5 | $ 2,737.6 | 2,240.9 | 25 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 210.1 | 207 | 3.1 | 124.5 | 121.4 | 3.1 | ||
Dividends declared on common stock | (147.7) | (147.7) | ||||||
Ending balance (in shares) at Jun. 30, 2024 | 229,954,524 | 1 | ||||||
Ending balance at Jun. 30, 2024 | $ 9,731.7 | $ 7,239.2 | $ 2,491.3 | $ 28.1 | $ 5,128 | $ 2,737.6 | $ 2,362.3 | $ 28.1 |
Consolidated Balance Sheets -_3
Consolidated Balance Sheets - Evergy Metro, Inc - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 26.1 | $ 27.7 |
Receivables, net of allowance for credit losses of $6.3 and $7.9, respectively | 429.3 | 256.9 |
Accounts receivable pledged as collateral | 329 | 342 |
Fuel inventory and supplies | 806.7 | 776.2 |
Income taxes receivable | 0 | 11.5 |
Regulatory assets | 252 | 292.1 |
Other | 47.6 | 31.4 |
Total Current Assets | 1,964 | 1,789.1 |
Property, plant and equipment, net | 24,301.4 | 23,728.7 |
OTHER ASSETS: | ||
Regulatory assets | 1,843.5 | 1,795.3 |
Nuclear decommissioning trust | 827.7 | 766.4 |
Other | 557.8 | 560 |
Total Other Assets | 5,565.6 | 5,458.3 |
TOTAL ASSETS | 31,831 | 30,976.1 |
CURRENT LIABILITIES: | ||
Current maturities of long-term debt | 819.5 | 800 |
Commercial paper | 969.7 | 951.8 |
Collateralized note payable | 329 | 342 |
Accounts payable | 374.3 | 616.9 |
Accrued taxes | 234.8 | 156.7 |
Accrued interest, includes $6.0 and $— related to variable interest entity, respectively | 117.1 | 134.2 |
Regulatory liabilities | 143.5 | 183 |
Asset retirement obligations | 44.9 | 40.3 |
Accrued compensation and benefits | 58.3 | 74.5 |
Other | 219.7 | 213.2 |
Total Current Liabilities | 3,310.8 | 3,512.6 |
LONG-TERM LIABILITIES: | ||
Long-term debt, net | 11,954.6 | 11,053.3 |
Deferred income taxes | 2,146.1 | 2,097.9 |
Unamortized investment tax credits | 166.4 | 170 |
Regulatory liabilities | 2,486.7 | 2,542.5 |
Pension and post-retirement liability | 486.6 | 464.1 |
Asset retirement obligations | 1,252.4 | 1,162.8 |
Other | 295.7 | 287.9 |
Total Long-Term Liabilities | 18,788.5 | 17,778.5 |
Commitments and Contingencies (Note $12) | ||
EQUITY: | ||
Common stock | 7,239.2 | 7,234.9 |
Retained earnings | 2,491.3 | 2,457.8 |
Accumulated other comprehensive loss | (26.9) | (29.6) |
Total Evergy, Inc. Shareholders' Equity | 9,703.6 | 9,663.1 |
TOTAL LIABILITIES AND EQUITY | 31,831 | 30,976.1 |
Evergy Metro | ||
CURRENT ASSETS: | ||
Cash and cash equivalents | 2.6 | 3.3 |
Receivables, net of allowance for credit losses of $6.3 and $7.9, respectively | 123 | 55 |
Accounts receivable pledged as collateral | 110 | 126 |
Fuel inventory and supplies | 269.9 | 264.6 |
Regulatory assets | 52 | 53.2 |
Prepaid expenses | 28.1 | 20.9 |
Other | 22.3 | 14.7 |
Total Current Assets | 722.4 | 666.2 |
Property, plant and equipment, net | 8,205.8 | 8,131.2 |
OTHER ASSETS: | ||
Regulatory assets | 423.4 | 380.8 |
Nuclear decommissioning trust | 440.1 | 401.3 |
Other | 83.8 | 77 |
Total Other Assets | 947.3 | 859.1 |
TOTAL ASSETS | 9,875.5 | 9,656.5 |
CURRENT LIABILITIES: | ||
Commercial paper | 264.3 | 423.3 |
Collateralized note payable | 110 | 126 |
Accounts payable | 148.9 | 272.5 |
Accrued taxes | 94.8 | 45.7 |
Accrued interest, includes $6.0 and $— related to variable interest entity, respectively | 30.3 | 27.4 |
Regulatory liabilities | 34.1 | 43 |
Asset retirement obligations | 16.6 | 16 |
Accrued compensation and benefits | 27.4 | 36.9 |
Other | 60.8 | 58.3 |
Total Current Liabilities | 787.2 | 1,050.2 |
LONG-TERM LIABILITIES: | ||
Long-term debt, net | 3,222.5 | 2,924.4 |
Deferred income taxes | 823.4 | 797.2 |
Unamortized investment tax credits | 109.7 | 111.3 |
Regulatory liabilities | 866.4 | 860.2 |
Pension and post-retirement liability | 203.3 | 190.8 |
Asset retirement obligations | 475.9 | 444.4 |
Other | 87 | 85 |
Total Long-Term Liabilities | 5,788.2 | 5,413.3 |
Commitments and Contingencies (Note $12) | ||
EQUITY: | ||
Common stock | 1,563.1 | 1,563.1 |
Retained earnings | 1,733.5 | 1,626.2 |
Accumulated other comprehensive loss | 3.5 | 3.7 |
Total Evergy, Inc. Shareholders' Equity | 3,300.1 | 3,193 |
TOTAL LIABILITIES AND EQUITY | 9,875.5 | 9,656.5 |
Related Party [Member] | Evergy Metro | ||
CURRENT ASSETS: | ||
Related party receivables | 114.5 | 128.5 |
CURRENT LIABILITIES: | ||
Accounts payable | $ 0 | $ 1.1 |
Consolidated Balance Sheets -_4
Consolidated Balance Sheets - Evergy Metro, Inc (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Allowance for credit losses | $ 18 | $ 24.2 |
Common stock - shares authorized (in shares) | 600,000,000 | 600,000,000 |
Common stock - shares issued (in shares) | 229,954,524 | 229,729,296 |
Evergy Metro | ||
Allowance for credit losses | $ 6.3 | $ 7.9 |
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 | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
OPERATING REVENUES | $ 1,447.5 | $ 1,354.2 | $ 2,778.5 | $ 2,651 |
OPERATING EXPENSES: | ||||
Fuel and purchased power | 359 | 344.8 | 735.4 | 699 |
Operating and maintenance | 237.7 | 227.6 | 469.2 | 443.9 |
Depreciation and amortization | 280.1 | 269.4 | 556.2 | 532.8 |
Taxes other than income tax | 112.6 | 100.4 | 226.7 | 202.8 |
Total Operating Expenses | 1,089.4 | 1,017.6 | 2,160.2 | 2,035.1 |
INCOME FROM OPERATIONS | 358.1 | 336.6 | 618.3 | 615.9 |
OTHER INCOME (EXPENSE): | ||||
Investment earnings | 2.6 | 6.7 | 7.9 | 15.8 |
Other income | 9.8 | 2.6 | 18.3 | 14.8 |
Other expense | (11.4) | (21) | (20.9) | (42.3) |
Total Other Expense, Net | 1 | (11.7) | 5.3 | (11.7) |
Interest expense | 143.6 | 133.7 | 276.8 | 256.8 |
INCOME BEFORE INCOME TAXES | 215.5 | 191.2 | 346.8 | 347.4 |
Income tax expense | 7.4 | 10.8 | 14.7 | 23.2 |
Net income attributable to Evergy, Inc. | 207 | 179.1 | 329.7 | 321.7 |
Derivative hedging activity | ||||
Reclassification to expenses, net of tax | 1.4 | 1.3 | 2.7 | 2.6 |
Derivative hedging activity, net of tax | 1.4 | 1.3 | 2.7 | 2.6 |
Total other comprehensive income | 1.4 | 1.3 | 2.7 | 2.6 |
COMPREHENSIVE INCOME | 208.4 | 180.4 | 332.4 | 324.3 |
Evergy Metro | ||||
OPERATING REVENUES | 474 | 485.3 | 894.9 | 891.7 |
OPERATING EXPENSES: | ||||
Fuel and purchased power | 145.5 | 142 | 282.1 | 257.4 |
Operating and maintenance | 67.6 | 66.8 | 135.5 | 132.1 |
Depreciation and amortization | 101.9 | 105.4 | 202.4 | 207.8 |
Taxes other than income tax | 36.2 | 32.2 | 73.5 | 65.7 |
Total Operating Expenses | 351.2 | 346.4 | 693.5 | 663 |
INCOME FROM OPERATIONS | 122.8 | 138.9 | 201.4 | 228.7 |
OTHER INCOME (EXPENSE): | ||||
Investment earnings | 1.2 | 1 | 2.8 | 1.7 |
Other income | 2.3 | 1.4 | 2.4 | 4.2 |
Other expense | (3.6) | (9.8) | (7.2) | (18.8) |
Total Other Expense, Net | (0.1) | (7.4) | (2) | (12.9) |
Interest expense | 38.4 | 35 | 76 | 65.6 |
INCOME BEFORE INCOME TAXES | 84.3 | 96.5 | 123.4 | 150.2 |
Income tax expense | 9.7 | 11.7 | 16.1 | 18.6 |
Net income attributable to Evergy, Inc. | 74.6 | 84.8 | 107.3 | 131.6 |
Derivative hedging activity | ||||
Reclassification to expenses, net of tax | (0.1) | 0 | (0.2) | (0.1) |
Derivative hedging activity, net of tax | (0.1) | 0 | (0.2) | (0.1) |
Total other comprehensive income | (0.1) | 0 | (0.2) | (0.1) |
COMPREHENSIVE INCOME | $ 74.5 | $ 84.8 | $ 107.1 | $ 131.5 |
Consolidated Statements of Ca_3
Consolidated Statements of Cash Flows - Evergy Metro, Inc - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES: | ||
Net income | $ 335.9 | $ 327.9 |
Adjustments to reconcile income to net cash from operating activities: | ||
Depreciation and amortization | 556.2 | 532.8 |
Amortization of nuclear fuel | 24.4 | 30.6 |
Amortization of deferred refueling outage | 9.3 | 9.1 |
Net deferred income taxes and credits | (13.5) | 0.7 |
Allowance for equity funds used during construction | (7.8) | (4.7) |
Payments for asset retirement obligations | (7) | (4.8) |
Other | (0.7) | 0.8 |
Changes in working capital items: | ||
Accounts receivable | (132) | 5.6 |
Accounts receivable pledged as collateral | 13 | 12 |
Fuel inventory and supplies | (28.7) | (55.9) |
Prepaid expenses and other current assets | 62 | 48.3 |
Accounts payable | (129.9) | (196.9) |
Accrued taxes | 89.6 | 79.8 |
Other current liabilities | (118.6) | (77.9) |
Changes in other assets | (9.6) | 13.5 |
Changes in other liabilities | (12.6) | (17) |
Cash Flows from Operating Activities | 634.8 | 715.2 |
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: | ||
Additions to property, plant and equipment | (1,296.1) | (1,104.2) |
Purchase of securities - trusts | (60.8) | (22) |
Sale of securities - trusts | 56.9 | 15.3 |
Other investing activities | 0.9 | (5.3) |
Cash Flows used in Investing Activities | (1,270.1) | (1,307.4) |
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: | ||
Short-term debt, net | 17.9 | 537.4 |
Collateralized short-term debt, net | (13) | (12) |
Proceeds from long-term debt | 920.7 | 690.5 |
Retirements of long-term debt | 0 | (350) |
Cash dividends paid | (295.4) | (281.3) |
Other financing activities | (6.6) | (4.6) |
Cash Flows from Financing Activities | 643.1 | 598.4 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 7.8 | 6.2 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||
Beginning of period | 27.7 | 25.2 |
End of period | 35.5 | 31.4 |
Evergy Metro | ||
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES: | ||
Net income | 107.3 | 131.6 |
Adjustments to reconcile income to net cash from operating activities: | ||
Depreciation and amortization | 202.4 | 207.8 |
Amortization of nuclear fuel | 12.3 | 15.4 |
Amortization of deferred refueling outage | 4.7 | 4.6 |
Net deferred income taxes and credits | 3 | 15.2 |
Allowance for equity funds used during construction | (1.1) | (3.4) |
Payments for asset retirement obligations | (2.3) | (0.6) |
Other | (0.2) | (0.2) |
Changes in working capital items: | ||
Accounts receivable | (42.7) | (11.8) |
Accounts receivable pledged as collateral | 16 | (1) |
Fuel inventory and supplies | (5.3) | (1.2) |
Prepaid expenses and other current assets | (10.9) | (17.1) |
Accounts payable | (77.1) | (89.5) |
Accrued taxes | 49.1 | 59 |
Other current liabilities | (14.7) | (27.8) |
Changes in other assets | (10.2) | 8.1 |
Changes in other liabilities | 8.7 | (8.4) |
Cash Flows from Operating Activities | 239 | 280.7 |
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: | ||
Additions to property, plant and equipment | (362.3) | (359.4) |
Purchase of securities - trusts | (53.6) | (15.5) |
Sale of securities - trusts | 50 | 10.4 |
Net money pool lending | 0 | 31 |
Other investing activities | 1.2 | 2.8 |
Cash Flows used in Investing Activities | (364.7) | (330.7) |
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: | ||
Short-term debt, net | (159) | 200.5 |
Collateralized short-term debt, net | (16) | 1 |
Proceeds from long-term debt | 297 | 297.2 |
Retirements of long-term debt | 0 | (300) |
Cash dividends paid | 0 | (150) |
Other financing activities | 3 | 2.7 |
Cash Flows from Financing Activities | 125 | 51.4 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (0.7) | 1.4 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||
Beginning of period | 3.3 | 3.1 |
End of period | $ 2.6 | $ 4.5 |
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, 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 | 327.9 | 131.6 | |||||
Derivative hedging activity, net of tax | 2.6 | (0.1) | |||||
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 |
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 | 0 | |||||
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 |
Beginning balance (in shares) at Dec. 31, 2023 | 229,729,296 | 1 | |||||
Beginning balance at Dec. 31, 2023 | 9,685 | $ 7,234.9 | 2,457.8 | 3,193 | $ 1,563.1 | 1,626.2 | 3.7 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 125.8 | 122.7 | 32.7 | 32.7 | |||
Dividends declared on common stock | (147.7) | (147.7) | |||||
Derivative hedging activity, net of tax | 1.3 | (0.1) | (0.1) | ||||
Ending balance (in shares) at Mar. 31, 2024 | 229,922,338 | 1 | |||||
Ending balance at Mar. 31, 2024 | 9,664.1 | $ 7,235 | 2,432.4 | 3,225.6 | $ 1,563.1 | 1,658.9 | 3.6 |
Beginning balance (in shares) at Dec. 31, 2023 | 229,729,296 | 1 | |||||
Beginning balance at Dec. 31, 2023 | 9,685 | $ 7,234.9 | 2,457.8 | 3,193 | $ 1,563.1 | 1,626.2 | 3.7 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 335.9 | 107.3 | |||||
Derivative hedging activity, net of tax | 2.7 | (0.2) | |||||
Ending balance (in shares) at Jun. 30, 2024 | 229,954,524 | 1 | |||||
Ending balance at Jun. 30, 2024 | 9,731.7 | $ 7,239.2 | 2,491.3 | 3,300.1 | $ 1,563.1 | 1,733.5 | 3.5 |
Beginning balance (in shares) at Mar. 31, 2024 | 229,922,338 | 1 | |||||
Beginning balance at Mar. 31, 2024 | 9,664.1 | $ 7,235 | 2,432.4 | 3,225.6 | $ 1,563.1 | 1,658.9 | 3.6 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 210.1 | 207 | 74.6 | 74.6 | |||
Dividends declared on common stock | (147.7) | (147.7) | |||||
Derivative hedging activity, net of tax | 1.4 | (0.1) | (0.1) | ||||
Ending balance (in shares) at Jun. 30, 2024 | 229,954,524 | 1 | |||||
Ending balance at Jun. 30, 2024 | $ 9,731.7 | $ 7,239.2 | $ 2,491.3 | $ 3,300.1 | $ 1,563.1 | $ 1,733.5 | $ 3.5 |
ORGANIZATION AND BASIS OF PRESE
ORGANIZATION AND BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2024 | |
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 kilovolt (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 15,800 megawatts (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 2023 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 entities (VIE) of which Evergy and Evergy Kansas Central are the primary beneficiaries. 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). Cash, Cash Equivalents and Restricted Cash Cash equivalents consists of highly liquid investments with original maturities of three months or less at acquisition. Evergy has restricted cash included in Other Current Assets and Other Non-current Assets on Evergy's consolidated balance sheet to facilitate the servicing of Evergy Missouri West Storm Funding I, LLC's (Evergy Missouri West Storm Funding) debt and the funding requirements for a jointly-owned generation facility. See Note 14 for additional information on the VIE. The following table summarizes the cash, cash equivalents and restricted cash included on Evergy's consolidated balance sheet. June 30 December 31 Evergy (millions) Current assets Cash and cash equivalents $ 26.1 $ 27.7 Other 7.7 — Other assets Other 1.7 — Total cash, cash equivalents and restricted cash $ 35.5 $ 27.7 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. June 30 December 31 Evergy (millions) Fuel inventory $ 247.9 $ 257.3 Supplies 558.8 518.9 Fuel inventory and supplies $ 806.7 $ 776.2 Evergy Kansas Central Fuel inventory $ 139.7 $ 138.6 Supplies 291.1 273.3 Fuel inventory and supplies $ 430.8 $ 411.9 Evergy Metro Fuel inventory $ 71.5 $ 81.5 Supplies 198.4 183.1 Fuel inventory and supplies $ 269.9 $ 264.6 Property, Plant and Equipment The following tables summarize the property, plant and equipment of Evergy, Evergy Kansas Central and Evergy Metro. June 30, 2024 Evergy Evergy Kansas Central Evergy Metro (millions) Electric plant in service $ 35,496.2 $ 17,285.0 $ 13,242.5 Electric plant acquisition adjustment 742.8 724.9 — Accumulated depreciation (13,738.4) (6,690.7) (5,578.1) Plant in service, net 22,500.6 11,319.2 7,664.4 Construction work in progress 1,618.3 1,031.2 450.2 Nuclear fuel, net 181.8 90.6 91.2 Plant to be retired, net (b) 0.7 0.7 — Property, plant and equipment, net $ 24,301.4 $ 12,441.7 $ 8,205.8 December 31, 2023 Evergy Evergy Kansas Central Evergy Metro (millions) Electric plant in service (a) $ 34,558.1 $ 16,858.7 $ 13,005.5 Electric plant acquisition adjustment 724.9 724.9 — Accumulated depreciation (a) (13,301.6) (6,502.7) (5,404.9) Plant in service, net (a) 21,981.4 11,080.9 7,600.6 Construction work in progress 1,543.5 939.1 428.7 Nuclear fuel, net 203.0 101.1 101.9 Plant to be retired, net (b) 0.8 0.8 — Property, plant and equipment, net (a) $ 23,728.7 $ 12,121.9 $ 8,131.2 (a) As of June 30, 2024, Evergy and Evergy Kansas Central classified Property, Plant and Equipment of VIE, net as Property, Plant and Equipment, net. To conform with the current period presentation, amounts previously reported as Property, Plant and Equipment of VIE, net as of December 31, 2023, have been reclassified to Property, Plant and Equipment, net. (b) As of June 30, 2024 and December 31, 2023, represents the planned retirement of Evergy Kansas Central analog meters prior to the end of their remaining useful lives. Other Expense The table below shows the detail of other expense for each of the Evergy Companies. Three Months Ended Year to Date 2024 2023 2024 2023 Evergy (millions) Non-service cost component of net benefit cost $ (4.6) $ (16.0) $ (9.2) $ (30.8) Corporate-owned life insurance (6.3) (4.6) (10.8) (10.7) Other (0.5) (0.4) (0.9) (0.8) Other expense $ (11.4) $ (21.0) $ (20.9) $ (42.3) Evergy Kansas Central Non-service cost component of net benefit cost $ 0.6 $ (4.2) $ 1.1 $ (8.2) Corporate-owned life insurance (6.2) (4.5) (10.4) (10.3) Other (0.2) — (0.2) (0.1) Other expense $ (5.8) $ (8.7) $ (9.5) $ (18.6) Evergy Metro Non-service cost component of net benefit cost $ (3.1) $ (9.2) $ (6.1) $ (17.9) Corporate-owned life insurance (0.1) (0.1) (0.4) (0.4) Other (0.4) (0.5) (0.7) (0.5) Other expense $ (3.6) $ (9.8) $ (7.2) $ (18.8) Earnings Per Share To compute basic earnings per common 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, convertible notes and a warrant. Evergy computes the dilutive effects of potential issuances of common shares using the treasury stock method, the contingently issuable share method or the if-converted method, as applicable. The following table reconciles Evergy's basic and diluted EPS. Three Months Ended Year to Date 2024 2023 2024 2023 Income (millions, except per share amounts) Net income $ 210.1 $ 182.2 $ 335.9 $ 327.9 Less: net income attributable to noncontrolling interests 3.1 3.1 6.2 6.2 Net income attributable to Evergy, Inc. $ 207.0 $ 179.1 $ 329.7 $ 321.7 Common Shares Outstanding Weighted average number of common shares outstanding - basic 230.3 230.1 230.2 230.0 Add: effect of dilutive securities 0.2 0.4 0.3 0.4 Diluted average number of common shares outstanding 230.5 230.5 230.5 230.4 Basic EPS $ 0.90 $ 0.78 $ 1.43 $ 1.40 Diluted EPS $ 0.90 $ 0.78 $ 1.43 $ 1.40 There were no anti-dilutive shares excluded from the computation of diluted EPS for the three months ended and year to date June 30, 2024. Anti-dilutive securities excluded from the computation of diluted EPS for the three months ended and year to date June 30, 2023 were 3,950,000 common shares issuable pursuant to a warrant. Also, there was no dilution resulting from Evergy's convertible notes for the three months ended and year to date June 30, 2024 and 2023. Dividends Declared In August 2024, 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 September 20, 2024, to shareholders of record as of August 20, 2024. In August 2024, Evergy Kansas Central's Board of Directors declared a cash dividend to Evergy of up to $135.0 million, payable on or before September 19, 2024. In August 2024, Evergy Metro's Board of Directors declared a cash dividend to Evergy of up to $110.0 million, payable on or before September 19, 2024. Supplemental Cash Flow Information Evergy Year to Date June 30 2024 2023 Cash paid for (received from): (millions) Interest, net of amount capitalized $ 265.5 $ 238.6 Income taxes, net of refunds 8.1 6.8 Right-of-use assets obtained in exchange for new operating lease liabilities 3.1 9.0 Right-of-use assets obtained in exchange for new finance lease liabilities 6.9 2.9 Non-cash investing transactions: Property, plant and equipment additions 115.1 120.1 Evergy Kansas Central Year to Date June 30 2024 2023 Cash paid for (received from): (millions) Interest, net of amount capitalized $ 108.1 $ 95.1 Income taxes, net of refunds 7.3 52.2 Right-of-use assets obtained in exchange for new operating lease liabilities 1.3 4.6 Right-of-use assets obtained in exchange for new finance lease liabilities 4.9 2.9 Non-cash investing transactions: Property, plant and equipment additions 72.5 58.6 Evergy Metro Year to Date June 30 2024 2023 Cash paid for (received from): (millions) Interest, net of amount capitalized $ 71.7 $ 64.4 Income taxes, net of refunds 3.5 (18.5) Right-of-use assets obtained in exchange for new operating lease liabilities 1.6 4.2 Right-of-use assets obtained in exchange for new finance lease liabilities 2.0 — Non-cash investing transactions: Property, plant and equipment additions 25.9 41.5 Natural Gas Plant Investment In April 2024, Evergy Missouri West purchased a 22% ownership interest representing approximately 145 MW in Dogwood Energy Center (Dogwood), an operational natural gas combined cycle facility located in Missouri, for approximately $60 million. The purchase was recorded as an asset acquisition to property, plant and equipment, net, on Evergy's consolidated balance sheet. The purchase was subject to terms and conditions listed in a stipulation and agreement approved by the Public Service Commission of the State of Missouri (MPSC) allowing Evergy Missouri West to recover in rates a return of and return on the original cost, net of accumulated depreciation, of |
REVENUE
REVENUE | 6 Months Ended |
Jun. 30, 2024 | |
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 2024 2023 2024 2023 Revenues (millions) Residential $ 536.7 $ 492.7 $ 1,015.7 $ 951.3 Commercial 485.8 460.7 918.5 890.7 Industrial 174.7 157.3 335.1 316.4 Other retail 10.2 8.9 22.1 20.2 Total electric retail $ 1,207.4 $ 1,119.6 $ 2,291.4 $ 2,178.6 Wholesale 73.3 83.1 144.3 153.5 Transmission 122.4 100.5 237.8 206.3 Industrial steam and other 4.0 5.8 14.2 17.5 Total revenue from contracts with customers $ 1,407.1 $ 1,309.0 $ 2,687.7 $ 2,555.9 Other 40.4 45.2 90.8 95.1 Operating revenues $ 1,447.5 $ 1,354.2 $ 2,778.5 $ 2,651.0 Evergy Kansas Central Three Months Ended Year to Date 2024 2023 2024 2023 Revenues (millions) Residential $ 233.7 $ 192.3 $ 448.0 $ 384.4 Commercial 208.3 180.7 391.9 358.8 Industrial 114.2 98.2 220.2 206.7 Other retail 6.0 2.5 12.1 6.8 Total electric retail $ 562.2 $ 473.7 $ 1,072.2 $ 956.7 Wholesale 47.7 58.8 115.8 126.4 Transmission 115.4 96.6 224.3 197.2 Other — — 1.8 1.7 Total revenue from contracts with customers $ 725.3 $ 629.1 $ 1,414.1 $ 1,282.0 Other 2.0 10.5 6.4 36.2 Operating revenues $ 727.3 $ 639.6 $ 1,420.5 $ 1,318.2 Evergy Metro Three Months Ended Year to Date 2024 2023 2024 2023 Revenues (millions) Residential $ 184.9 $ 186.0 $ 340.9 $ 344.0 Commercial 185.0 197.3 356.2 373.2 Industrial 33.5 35.0 64.7 63.4 Other retail 2.3 3.4 5.5 6.1 Total electric retail $ 405.7 $ 421.7 $ 767.3 $ 786.7 Wholesale 25.5 25.9 31.8 37.3 Transmission 4.9 3.3 9.8 7.1 Other — — 2.5 2.4 Total revenue from contracts with customers $ 436.1 $ 450.9 $ 811.4 $ 833.5 Other 37.9 34.4 83.5 58.2 Operating revenues $ 474.0 $ 485.3 $ 894.9 $ 891.7 |
RECEIVABLES
RECEIVABLES | 6 Months Ended |
Jun. 30, 2024 | |
Receivables [Abstract] | |
RECEIVABLES | RECEIVABLES The Evergy Companies' receivables are detailed in the following table. June 30 December 31 2024 2023 Evergy (millions) Customer accounts receivable - billed $ 7.4 $ 2.6 Customer accounts receivable - unbilled 279.5 109.1 Other receivables 160.4 169.4 Allowance for credit losses (18.0) (24.2) Total $ 429.3 $ 256.9 Evergy Kansas Central Customer accounts receivable - billed $ — $ — Customer accounts receivable - unbilled 112.4 39.9 Other receivables 134.4 143.5 Allowance for credit losses (8.8) (11.6) Total $ 238.0 $ 171.8 Evergy Metro Customer accounts receivable - billed $ — $ — Customer accounts receivable - unbilled 93.2 27.2 Other receivables 36.1 35.7 Allowance for credit losses (6.3) (7.9) Total $ 123.0 $ 55.0 The Evergy Companies' other receivables as of June 30, 2024 and December 31, 2023, 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. June 30 December 31 2024 2023 (millions) Evergy $ 85.1 $ 61.5 Evergy Kansas Central 76.4 59.9 Evergy Metro 7.4 0.8 The change in the Evergy Companies' allowance for credit losses is summarized in the following table. 2024 2023 Evergy (millions) Beginning balance January 1 $ 24.2 $ 31.4 Credit loss expense 2.0 0.6 Write-offs (14.6) (15.0) Recoveries of prior write-offs 6.4 5.6 Ending balance June 30 $ 18.0 $ 22.6 Evergy Kansas Central Beginning balance January 1 $ 11.6 $ 16.9 Credit loss expense (income) 1.4 (0.2) Write-offs (7.1) (8.0) Recoveries of prior write-offs 2.9 2.4 Ending balance June 30 $ 8.8 $ 11.1 Evergy Metro Beginning balance January 1 $ 7.9 $ 9.3 Credit loss expense 1.1 0.6 Write-offs (5.1) (4.7) Recoveries of prior write-offs 2.4 2.1 Ending balance June 30 $ 6.3 $ 7.3 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. June 30 December 31 2024 2023 (millions) Evergy $ 329.0 $ 342.0 Evergy Kansas Central 169.0 166.0 Evergy Metro 110.0 126.0 In February 2024, Evergy Kansas Central, Evergy Metro and Evergy Missouri West amended the terms of their receivable sale facilities, including extending the expiration of each receivable sale facility from 2024 to 2025. Prior to the amendment to Evergy Kansas Central's facility, it allowed for $185.0 million in aggregate outstanding principal amount of borrowings from mid-November through mid-July and then $200.0 million from mid-July through mid-November. Prior to the amendment to Evergy Metro's facility, it allowed for $130.0 million in aggregate outstanding principal amount of borrowings at any time. Prior to the amendment to Evergy Missouri West's facility, it allowed for $50.0 million in aggregate outstanding principal amount of borrowings from mid-November through mid-July and then $65.0 million from mid-July through mid-November. |
RATE MATTERS AND REGULATION
RATE MATTERS AND REGULATION | 6 Months Ended |
Jun. 30, 2024 | |
Regulated Operations [Abstract] | |
RATE MATTERS AND REGULATION | RATE MATTERS AND REGULATION State Corporation Commission of the State of Kansas (KCC) Proceedings Evergy Kansas Central 2024 Transmission Delivery Charge (TDC) In April 2024, 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 2024 and are expected to increase Evergy Kansas Central's annual retail revenues by $80.1 million when compared to 2023. Evergy Metro 2024 TDC In April 2024, 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 2024 and are expected to increase Evergy Metro's annual retail revenues by $7.1 million when compared to 2023. MPSC Proceedings Evergy Missouri West's 2024 Rate Case Proceeding In February 2024, Evergy Missouri West filed an application with the MPSC to request an increase to its retail revenues of approximately $104 million. Evergy Missouri West's request reflected a return on equity of 10.5% (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 and the inclusion of certain costs related to Dogwood and Crossroads Energy Center (Crossroads), two natural gas plants. An evidentiary hearing in the case is scheduled to occur beginning in late September 2024 and new rates are expected to be effective in January 2025. 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. Evergy Missouri West continued to record carrying charges on its February 2021 winter weather event regulatory asset until it issued the securitized bonds in February 2024. See Note 9 for additional information regarding the issuance of the 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: • $115.8 million increase effective in January 2024; and • $21.7 million decrease effective in March 2023. See "Evergy Kansas Central TFR Formal Challenge" within this Note 4 for additional 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 regard 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 through 2022 as a result of the calculation of its capital structure included in the TFR. Evergy Kansas Central disputed that any refunds for 2018 through 2022 were required because Evergy Kansas Central was following its approved TFR formula. In December 2022, FERC issued an order addressing the challenge to the 2020 through 2022 over-collections which were refunded to customers as part of Evergy Kansas Central's 2023 TFR effective in March 2023. In February 2023, certain Evergy Kansas Central TFR customers submitted a formal complaint with FERC requesting the refund of over-collections related to the 2018 and 2019 rate years. As of June 30, 2024 and December 31, 2023, Evergy and Evergy Kansas Central had recorded a $7.1 million regulatory liability related to the 2018 and 2019 rate year refund request. A decision from FERC regarding this complaint is expected in 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: • $23.7 million increase effective in January 2024; and • $8.6 million increase effective in January 2023. |
GOODWILL
GOODWILL | 6 Months Ended |
Jun. 30, 2024 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL | GOODWILL GAAP 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, Inc. (Great Plains Energy) and Evergy Kansas Central merger was conducted as of May 1, 2024. 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. |
ASSET RETIREMENT OBLIGATIONS
ASSET RETIREMENT OBLIGATIONS | 6 Months Ended |
Jun. 30, 2024 | |
Asset Retirement Obligation Disclosure [Abstract] | |
ASSET RETIREMENT OBLIGATIONS | ASSET RETIREMENT OBLIGATIONS Asset retirement obligations (AROs) associated with tangible long-lived assets are legal obligations that exist under enacted laws, statutes and written or oral contracts, including obligations arising under the doctrine of promissory estoppel. These liabilities are recognized at estimated fair value as incurred with a corresponding amount capitalized as part of the cost of the related long-lived assets and depreciated over their useful lives. Accretion of the liabilities due to the passage of time is recorded to a regulatory asset and/or liability. Changes in the estimated fair values of the liabilities are recognized when known. Evergy Kansas Central, Evergy Metro and Evergy Missouri West have AROs related to asbestos abatement and the closure and post-closure care of ponds and landfills containing coal combustion residuals (CCRs). In addition, Evergy Kansas Central and Evergy Metro have AROs related to decommissioning Wolf Creek Generating Station (Wolf Creek) and the retirement of wind generation facilities. The following table summarizes the change in the Evergy Companies' AROs for the periods ending June 30, 2024 and December 31, 2023. Evergy Evergy Kansas Central Evergy Metro 2024 2023 2024 2023 2024 2023 (millions) Beginning balance January 1 $ 1,203.1 $ 1,153.2 $ 599.3 $ 565.1 $ 460.4 $ 444.2 Additions 72.8 9.7 44.8 9.7 24.1 — Revision in timing and/or estimates — 3.2 — 1.6 — 1.6 Settlements (7.0) (21.8) (4.5) (9.8) (2.3) (8.6) Accretion 28.4 58.8 16.4 32.7 10.3 23.2 Ending balance $ 1,297.3 $ 1,203.1 $ 656.0 $ 599.3 $ 492.5 $ 460.4 Less: current portion (44.9) (40.3) (25.9) (22.2) (16.6) (16.0) Total noncurrent asset $ 1,252.4 $ 1,162.8 $ 630.1 $ 577.1 $ 475.9 $ 444.4 In the second quarter of 2024, Evergy, Evergy Kansas Central and Evergy Metro recorded $72.8 million, $44.8 million and $24.1 million of ARO liabilities, respectively, related to the new Environmental Protection Agency (EPA) CCR regulation focused on legacy surface impoundments and historic placements of CCR. This regulation expands applicability of the 2015 CCR regulation to inactive landfills and beneficial use sites not previously regulated. Evergy recorded an equal and offsetting regulatory asset for each ARO liability. See Note 12 for additional information regarding the regulation of CCRs. |
PENSION PLANS AND POST-RETIREME
PENSION PLANS AND POST-RETIREMENT BENEFITS | 6 Months Ended |
Jun. 30, 2024 | |
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 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 and year to date June 30, 2024, Evergy, Evergy Kansas Central and Evergy Metro recorded no pension settlement charges. For the three months ended June 30, 2023, Evergy, Evergy Kansas Central and Evergy Metro recorded pension settlement (gains) losses of ($2.0) million, $0.2 million and ($2.2) million, respectively. Year to date June 30, 2023, Evergy, Evergy Kansas Central and Evergy Metro recorded pension settlement (gains) losses of ($17.9) million, $0.6 million and ($18.5) 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. 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 June 30, 2024 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 11.5 $ 4.8 $ 6.7 $ 0.4 $ 0.2 $ 0.2 Interest cost 22.4 11.4 10.8 2.5 1.3 1.3 Expected return on plan assets (21.7) (10.8) (11.0) (2.9) (1.5) (1.3) Prior service cost 0.5 0.5 — — — (0.1) Recognized net actuarial (gain) loss (4.4) 0.2 (4.3) (1.0) (0.5) (0.5) Net periodic benefit costs before regulatory adjustment and intercompany allocations 8.3 6.1 2.2 (1.0) (0.5) (0.4) Regulatory adjustment 6.9 (1.1) 7.8 — 0.2 (0.1) Intercompany allocations — (0.6) (0.6) — — 0.2 Net periodic benefit costs (income) $ 15.2 $ 4.4 $ 9.4 $ (1.0) $ (0.3) $ (0.3) Pension Benefits Post-Retirement Benefits Year to Date June 30, 2024 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 23.0 $ 9.5 $ 13.5 $ 0.8 $ 0.4 $ 0.4 Interest cost 44.8 22.8 21.5 5.0 2.6 2.5 Expected return on plan assets (43.4) (21.5) (21.9) (5.7) (3.0) (2.7) Prior service cost 1.0 1.0 — — — (0.2) Recognized net actuarial (gain)/loss (8.7) 0.4 (8.7) (2.0) (1.0) (0.9) Net periodic benefit costs before regulatory adjustment and intercompany allocations 16.7 12.2 4.4 (1.9) (1.0) (0.9) Regulatory adjustment 12.6 (3.2) 15.5 — 0.4 (0.2) Intercompany allocations — (1.0) (1.1) — — 0.3 Net periodic benefit costs (income) $ 29.3 $ 8.0 $ 18.8 $ (1.9) $ (0.6) $ (0.8) Pension Benefits Post-Retirement Benefits Three Months Ended June 30, 2023 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 12.0 $ 5.0 $ 7.0 $ 0.5 $ 0.3 $ 0.2 Interest cost 23.0 11.8 10.9 2.8 1.3 1.4 Expected return on plan assets (22.1) (11.2) (10.9) (3.0) (1.5) (1.4) Prior service cost 0.5 0.5 — — — (0.1) Recognized net actuarial (gain)/loss (3.9) 0.1 (3.8) (1.1) (0.5) (0.5) Settlement (gain) loss (2.0) 0.2 (2.2) — — — Net periodic benefit costs before regulatory adjustment and intercompany allocations 7.5 6.4 1.0 (0.8) (0.4) (0.4) Regulatory adjustment 22.0 6.9 15.1 (0.2) (0.6) 0.4 Intercompany allocations — (0.6) (0.3) — — — Net periodic benefit costs (income) $ 29.5 $ 12.7 $ 15.8 $ (1.0) $ (1.0) $ — Pension Benefits Post-Retirement Benefits Year to Date June 30, 2023 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 23.2 $ 9.6 $ 13.6 $ 0.9 $ 0.5 $ 0.4 Interest cost 45.4 23.2 21.7 5.6 2.7 2.7 Expected return on plan assets (43.9) (22.2) (21.7) (6.0) (3.0) (2.8) Prior service cost 1.0 1.0 — — — (0.2) Recognized net actuarial (gain)/loss (9.5) (0.7) (8.4) (2.1) (1.0) (1.0) Settlement (gain) loss (17.9) 0.6 (18.5) — — — Net periodic benefit costs before regulatory adjustment and intercompany allocations (1.7) 11.5 (13.3) (1.6) (0.8) (0.9) Regulatory adjustment 55.5 14.3 41.0 (0.3) (1.2) 1.0 Intercompany allocations — (1.1) (0.5) — 0.1 — Net periodic benefit costs (income) $ 53.8 $ 24.7 $ 27.2 $ (1.9) $ (1.9) $ 0.1 The components of net periodic benefit costs other than the service cost component are included in other expense on the Evergy Companies' consolidated statements of income and comprehensive income. Year to date June 30, 2024, Evergy, Evergy Kansas Central and Evergy Metro made no cash pension contributions. Evergy expects to make cash pension contributions of $36.8 million in 2024 to satisfy the Employee Retirement Income Security Act of 1974, as amended (ERISA) funding requirements and KCC and MPSC rate orders, of which $9.8 million is expected to be paid by Evergy Kansas Central and $27.0 million is expected to be paid by Evergy Metro. Year to date June 30, 2024, 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 2024 of $0.2 million, $0.1 million and $0.1 million, respectively, to the post-retirement benefit plans. |
SHORT-TERM BORROWINGS AND SHORT
SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT | 6 Months Ended |
Jun. 30, 2024 | |
Debt Disclosure [Abstract] | |
SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT | SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT Evergy's $2.5 billion master credit facility expires in 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 June 30, 2024, 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 June 30, 2024 and December 31, 2023. Amounts Drawn Master Credit Facility Commercial Paper Letters of Credit Cash Borrowings Available Borrowings Weighted Average Interest Rate on Short-Term Borrowings June 30, 2024 (millions) Evergy, Inc. $ 200.0 $ — $ 0.7 $ — $ 199.3 —% Evergy Kansas Central 750.0 595.6 1.0 — 153.4 5.53% Evergy Metro 850.0 264.3 1.0 — 584.7 5.50% Evergy Missouri West 700.0 109.8 — — 590.2 5.49% Evergy $ 2,500.0 $ 969.7 $ 2.7 $ — $ 1,527.6 December 31, 2023 Evergy, Inc. $ 300.0 $ — $ 0.7 $ — $ 299.3 —% Evergy Kansas Central 750.0 230.4 1.0 — 518.6 5.56% Evergy Metro 750.0 423.3 — — 326.7 5.58% Evergy Missouri West 700.0 298.1 — — 401.9 5.66% Evergy $ 2,500.0 $ 951.8 $ 1.7 $ — $ 1,546.5 |
LONG-TERM DEBT
LONG-TERM DEBT | 6 Months Ended |
Jun. 30, 2024 | |
Debt Disclosure [Abstract] | |
LONG-TERM DEBT | LONG-TERM DEBT Mortgage Bonds In April 2024, Evergy Metro issued, at a discount, $300.0 million of 5.40% Mortgage Bonds, maturing in 2034. Proceeds were used to pay down commercial paper and for general corporate purposes. In May 2024, Evergy Missouri West issued, at a discount, $300.0 million of 5.65% First Mortgage Bonds (FMBs), maturing in 2034. Proceeds were used to pay down commercial paper and for general corporate purposes. Securitized Bonds |
DERIVATIVE INSTRUMENTS
DERIVATIVE INSTRUMENTS | 6 Months Ended |
Jun. 30, 2024 | |
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 11 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. June 30 December 31 Non-hedging derivatives Notional volume unit of measure 2024 2023 Evergy (millions) Commodity contracts Power MWhs 108.9 52.9 Natural gas MMBtu 774.1 559.9 Evergy Kansas Central Commodity contracts Power MWhs 63.2 32.1 Natural gas MMBtu 774.1 558.7 Evergy Metro Commodity contracts Power MWhs 34.6 15.1 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. June 30 December 31 Evergy 2024 2023 Non-hedging derivatives Balance sheet location Commodity contracts (millions) Power Other assets - current $ 23.7 $ 23.2 Other assets - long-term 40.5 35.7 Natural gas Other assets - current 27.2 68.1 Other assets - long-term 4.1 6.0 Total derivative assets $ 95.5 $ 133.0 Commodity contracts Power Other liabilities - current $ 13.5 $ 21.0 Other liabilities - long-term 38.0 32.9 Natural gas Other liabilities - current 29.2 68.1 Other liabilities - long-term 4.7 6.8 Total derivative liabilities $ 85.4 $ 128.8 June 30 December 31 Evergy Kansas Central 2024 2023 Non-hedging derivatives Balance sheet location Commodity contracts (millions) Power Other assets - current $ 13.4 $ 18.3 Other assets - long-term 40.5 35.7 Natural gas Other assets - current 27.2 68.1 Other assets - long-term 4.1 6.0 Total derivative assets $ 85.2 $ 128.1 Commodity contracts Power Other liabilities - current $ 11.7 $ 14.3 Other liabilities - long-term 38.0 32.9 Natural gas Other liabilities - current 29.2 67.0 Other liabilities - long-term 4.7 6.8 Total derivative liabilities $ 83.6 $ 121.0 June 30 December 31 Evergy Metro 2024 2023 Non-hedging derivatives Balance sheet location Commodity contracts (millions) Power Other assets - current $ 6.6 $ 2.1 Total derivative assets $ 6.6 $ 2.1 Commodity contracts Power Other liabilities - current $ 1.0 $ 5.7 Total derivative liabilities $ 1.0 $ 5.7 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. June 30, 2024 Evergy Evergy Kansas Central Evergy Metro Derivative Assets (millions) Current Gross amounts recognized $ 50.9 $ 40.6 $ 6.6 Gross amounts offset (36.9) (35.1) (1.0) Net amounts presented in other assets - current $ 14.0 $ 5.5 $ 5.6 Long-Term Gross amounts recognized $ 44.6 $ 44.6 $ — Gross amounts offset (12.3) (12.3) — Net amounts presented in other assets - long-term $ 32.3 $ 32.3 $ — Derivative Liabilities Current Gross amounts recognized $ 42.7 $ 40.9 $ 1.0 Gross amounts offset (35.4) (33.5) (1.0) Net amounts presented in other liabilities - current $ 7.3 $ 7.4 $ — Long-Term Gross amounts recognized $ 42.7 $ 42.7 $ — Gross amounts offset (6.7) (6.8) — Net amounts presented in other liabilities - long-term $ 36.0 $ 35.9 $ — December 31, 2023 Evergy Evergy Kansas Central Evergy Metro Derivative Assets (millions) Current Gross amounts recognized $ 91.3 $ 86.4 $ 2.1 Gross amounts offset (78.4) (75.3) (2.1) Net amounts presented in other assets - current $ 12.9 $ 11.1 $ — Long-Term Gross amounts recognized $ 41.7 $ 41.7 $ — Gross amounts offset (11.9) (11.9) — Net amounts presented in other assets - long-term $ 29.8 $ 29.8 $ — Derivative Liabilities Current Gross amounts recognized $ 89.1 $ 81.3 $ 5.7 Gross amounts offset (77.5) (74.4) (2.1) Net amounts presented in other liabilities - current $ 11.6 $ 6.9 $ 3.6 Long-Term Gross amounts recognized $ 39.7 $ 39.7 $ — Gross amounts offset (5.9) (5.9) — Net amounts presented in other liabilities - long-term $ 33.8 $ 33.8 $ — 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 2024 2023 2024 2023 Evergy (millions) Operating revenues Commodity $ (3.9) $ 2.7 $ (9.9) $ 17.6 Total $ (3.9) $ 2.7 $ (9.9) $ 17.6 Evergy Kansas Central Operating revenues Commodity $ (3.9) $ 2.7 $ (9.9) $ 17.6 Total $ (3.9) $ 2.7 $ (9.9) $ 17.6 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 June 30, 2024, if counterparty groups completely failed to perform on contracts, Evergy's and Evergy Kansas Central's maximum exposure related to derivative assets was $36.5 million. As of June 30, 2024, the potential loss after the consideration of applicable master netting arrangements and collateral received for Evergy and Evergy Kansas Central was $26.7 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 June 30, 2024, was $40.0 million for which Evergy and Evergy Kansas Central have posted $2.5 million collateral in the normal course of business. If the credit-risk-related contingent features underlying these agreements were triggered as of June 30, 2024, Evergy and Evergy Kansas Central could be required to post an additional $37.4 million of collateral to their counterparties. |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 6 Months Ended |
Jun. 30, 2024 | |
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. June 30, 2024 December 31, 2023 Book Value Fair Value Book Value Fair Value Long-term debt (a) (millions) Evergy (b) $ 12,774.1 $ 11,699.3 $ 11,853.3 $ 11,044.9 Evergy Kansas Central 4,581.8 4,031.8 4,580.4 4,176.6 Evergy Metro 3,222.5 2,958.8 2,924.4 2,738.8 (a) Includes current maturities. (b) Book value as of June 30, 2024 and December 31, 2023, includes $84.3 million and $87.0 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 June 30, 2024 Netting Level 1 Level 2 Level 3 NAV Evergy Kansas Central (millions) Assets Nuclear decommissioning trust (a) Domestic equity funds $ 143.8 $ — $ 134.1 $ — $ — $ 9.7 International equity funds 77.4 — 77.4 — — — Core bond fund 57.8 — 57.8 — — — High-yield bond fund 30.4 — 30.4 — — — Emerging markets bond fund 18.5 — 18.5 — — — Alternative investments fund 42.9 — — — — 42.9 Real estate securities fund 16.3 — — — — 16.3 Cash equivalents 0.5 — 0.5 — — — Total nuclear decommissioning trust 387.6 — 318.7 — — 68.9 Rabbi trust Fixed income funds 14.6 — 14.6 — — — Equity funds 7.0 — 7.0 — — — Combination debt/equity/other fund 1.7 — 1.7 — — — Cash equivalents 0.2 — 0.2 — — — Total rabbi trust 23.5 — 23.5 — — — Derivative instruments - commodity contracts (b) Power 37.0 (16.9) 15.9 36.4 1.6 — Natural gas 0.8 (30.5) 25.2 6.1 — — Total derivative assets 37.8 (47.4) 41.1 42.5 1.6 — Total assets 448.9 (47.4) 383.3 42.5 1.6 68.9 Liabilities Derivative instruments - commodity contracts (b) Power 39.9 (9.8) 8.1 40.0 1.6 — Natural gas 3.4 (30.5) 27.7 6.2 — — Total derivative liabilities 43.3 (40.3) 35.8 46.2 1.6 — Total liabilities $ 43.3 $ (40.3) $ 35.8 $ 46.2 $ 1.6 $ — Evergy Metro Assets Nuclear decommissioning trust (a) Equity securities $ 340.6 $ — $ 340.6 $ — $ — $ — Debt securities U.S. Treasury 47.0 — 47.0 — — — State and local obligations 2.2 — — 2.2 — — Corporate bonds 46.8 — — 46.8 — — Foreign governments 0.1 — — 0.1 — — Cash equivalents 3.4 — 3.4 — — — Total nuclear decommissioning trust 440.1 — 391.0 49.1 — — Self-insured health plan trust (c) Equity securities 2.2 — 2.2 — — — Debt securities 11.4 — 2.6 8.8 — — Cash and cash equivalents 3.3 — 3.3 — — — Total self-insured health plan trust 16.9 — 8.1 8.8 — — Derivative instruments - commodity contracts (b) Power 5.6 (1.0) — — 6.6 — Total derivative assets 5.6 (1.0) — — 6.6 — Total assets 462.6 (1.0) 399.1 57.9 6.6 — Liabilities Derivative instruments - commodity contracts (b) Power — (1.0) — — 1.0 — Total derivative liabilities — (1.0) — — 1.0 — Total liabilities $ — $ (1.0) $ — $ — $ 1.0 $ — Description June 30, 2024 Netting Level 1 Level 2 Level 3 NAV Other Evergy (millions) Assets Rabbi trusts Core bond fund $ 8.5 $ — $ 8.5 $ — $ — $ — Total rabbi trusts 8.5 — 8.5 — — — Derivative instruments - commodity contracts (b) Power 2.9 (0.8) — — 3.7 — Total derivative assets 2.9 (0.8) — — 3.7 — Total assets 11.4 (0.8) 8.5 — 3.7 — Liabilities Derivative instruments - commodity contracts (b) Power — (0.8) — — 0.8 — Total derivative liabilities — (0.8) — — 0.8 — Total liabilities $ — $ (0.8) $ — $ — $ 0.8 $ — Evergy Assets Nuclear decommissioning trust (a) $ 827.7 $ — $ 709.7 $ 49.1 $ — $ 68.9 Rabbi trusts 32.0 — 32.0 — — — Self-insured health plan trust (c) 16.9 — 8.1 8.8 — — Derivative instruments - commodity contracts (b) Power 45.5 (18.7) 15.9 36.4 11.9 — Natural gas 0.8 (30.5) 25.2 6.1 — — Total derivative assets 46.3 (49.2) 41.1 42.5 11.9 — Total assets 922.9 (49.2) 790.9 100.4 11.9 68.9 Liabilities Derivative instruments - commodity contracts (b) Power 39.9 (11.6) 8.1 40.0 3.4 — Natural gas 3.4 (30.5) 27.7 6.2 — — Total derivative liabilities 43.3 (42.1) 35.8 46.2 3.4 — Total liabilities $ 43.3 $ (42.1) $ 35.8 $ 46.2 $ 3.4 $ — Description December 31, 2023 Netting Level 1 Level 2 Level 3 NAV Evergy Kansas Central (millions) Assets Nuclear decommissioning trust (a) Domestic equity funds $ 133.1 $ — $ 123.3 $ — $ — $ 9.8 International equity funds 72.6 — 72.6 — — — Core bond fund 56.2 — 56.2 — — — High-yield bond fund 29.1 — 29.1 — — — Emerging markets bond fund 18.3 — 18.3 — — — Alternative investments fund 37.9 — — — — 37.9 Real estate securities fund 17.2 — — — — 17.2 Cash equivalents 0.7 — 0.7 — — — Total nuclear decommissioning trust 365.1 — 300.2 — — 64.9 Rabbi trust Fixed income funds 15.2 — 15.2 — — — Equity funds 7.4 — 7.4 — — — Combination debt/equity/other fund 1.7 — 1.7 — — — Cash equivalents 0.2 — 0.2 — — — Total rabbi trust 24.5 — 24.5 — — — Derivative instruments - commodity contracts (b) Power 40.2 (13.8) 16.3 32.2 5.5 — Natural gas 0.7 (73.4) 72.7 1.4 — — Total derivative assets 40.9 (87.2) 89.0 33.6 5.5 — Total assets 430.5 (87.2) 413.7 33.6 5.5 64.9 Liabilities Derivative instruments - commodity contracts (b) Power 40.3 (6.9) 9.4 34.6 3.2 — Natural gas 0.4 (73.4) 72.6 1.2 — — Total derivative liabilities 40.7 (80.3) 82.0 35.8 3.2 — Total liabilities $ 40.7 $ (80.3) $ 82.0 $ 35.8 $ 3.2 $ — Evergy Metro Assets Nuclear decommissioning trust (a) Equity securities $ 302.4 $ — $ 302.4 $ — $ — $ — Debt securities U.S. Treasury 47.9 — 47.9 — — — State and local obligations 3.8 — — 3.8 — — Corporate bonds 43.9 — — 43.9 — — Foreign governments 0.1 — — 0.1 — — Cash equivalents 3.2 — 3.2 — — — Total nuclear decommissioning trust 401.3 — 353.5 47.8 — — Self-insured health plan trust (c) Equity securities 2.0 — 2.0 — — — Debt securities 9.4 — 2.5 6.9 — — Cash and cash equivalents 4.3 — 4.3 — — — Total self-insured health plan trust 15.7 — 8.8 6.9 — — Derivative instruments - commodity contracts (b) Power — (2.1) — — 2.1 — Total derivative assets — (2.1) — — 2.1 — Total assets 417.0 (2.1) 362.3 54.7 2.1 — Liabilities Derivative instruments - commodity contracts (b) Power 3.6 (2.1) — — 5.7 — Total derivative liabilities 3.6 (2.1) — — 5.7 — Total liabilities $ 3.6 $ (2.1) $ — $ — $ 5.7 $ — Description December 31, 2023 Netting Level 1 Level 2 Level 3 NAV Other Evergy (millions) Assets Rabbi trusts Core bond fund $ 8.8 $ — $ 8.8 $ — $ — $ — Total rabbi trusts 8.8 — 8.8 — — — Derivative instruments - commodity contracts (b) Power 1.8 (1.0) — — 2.8 — Total derivative assets 1.8 (1.0) — — 2.8 — Total assets 10.6 (1.0) 8.8 — 2.8 — Liabilities Derivative instruments - commodity contracts (b) Power — (1.0) — — 1.0 — Natural gas 1.1 — — 1.1 — — Total derivative liabilities 1.1 (1.0) — 1.1 1.0 — Total liabilities $ 1.1 $ (1.0) $ — $ 1.1 $ 1.0 $ — Evergy Assets Nuclear decommissioning trust (a) $ 766.4 $ — $ 653.7 $ 47.8 $ — $ 64.9 Rabbi trusts 33.3 — 33.3 — — — Self-insured health plan trust (c) 15.7 — 8.8 6.9 — — Derivative instruments - commodity contracts (b) Power 42.0 (16.9) 16.3 32.2 10.4 — Natural gas 0.7 (73.4) 72.7 1.4 — — Total derivative assets 42.7 (90.3) 89.0 33.6 10.4 — Total assets 858.1 (90.3) 784.8 88.3 10.4 64.9 Liabilities Derivative instruments - commodity contracts (b) Power 43.9 (10.0) 9.4 34.6 9.9 — Natural gas 1.5 (73.4) 72.6 2.3 — — Total derivative liabilities 45.4 (83.4) 82.0 36.9 9.9 — Total liabilities $ 45.4 $ (83.4) $ 82.0 $ 36.9 $ 9.9 $ — (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. June 30, 2024 December 31, 2023 June 30, 2024 Fair Unfunded Fair Unfunded Redemption Length of Value Commitments Value Commitments Frequency Settlement Evergy Kansas Central (millions) Nuclear decommissioning trust: Domestic equity funds $ 9.7 $ 1.4 $ 9.8 $ 1.4 (a) (a) Alternative investments fund (b) 42.9 — 37.9 — Quarterly 65 days Real estate securities fund (b) 16.3 — 17.2 — Quarterly 65 days Total Evergy investments at NAV $ 68.9 $ 1.4 $ 64.9 $ 1.4 (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. All funds have begun to make distributions. (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 2024 2023 2024 2023 Evergy (millions) Nuclear decommissioning trust - equity securities $ 22.0 $ 25.2 $ 52.3 $ 54.7 Nuclear decommissioning trust - debt securities (0.4) (1.3) (1.7) 0.8 Rabbi trusts - equity securities (0.1) 0.1 0.3 1.7 Total $ 21.5 $ 24.0 $ 50.9 $ 57.2 Evergy Kansas Central Nuclear decommissioning trust - equity securities $ 12.0 $ 7.9 $ 20.5 $ 22.0 Rabbi trust - equity securities — 0.2 0.5 1.5 Total $ 12.0 $ 8.1 $ 21.0 $ 23.5 Evergy Metro Nuclear decommissioning trust - equity securities $ 10.0 $ 17.3 $ 31.8 $ 32.7 Nuclear decommissioning trust - debt securities (0.4) (1.3) (1.7) 0.8 Total $ 9.6 $ 16.0 $ 30.1 $ 33.5 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Jun. 30, 2024 | |
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 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. Mercury and Air Toxics Standards (MATS) In April 2024, the EPA finalized a rule to tighten certain aspects of the MATS rule. The EPA is lowering the emission limit for particulate matter (PM), requiring the use of PM continuous emissions monitors (CEMS) and lowering the mercury emission limit for lignite coal-fired electric generating units (EGUs). The Evergy Companies' cost to comply is not expected 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 in November 2022. In February 2023, the EPA published a final rule disapproving the ITSIPs submitted by nineteen 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. Court of Appeals for the Eighth Circuit (Eighth Circuit) and the U.S. Court of Appeals for the Tenth Circuit (Tenth Circuit), 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. In July 2024, the EPA signed a proposed rule to disapprove the supplemental ITSIP that Missouri submitted in November 2022. Due to uncertainty regarding the stays of the EPA's disapprovals of the Missouri and Oklahoma ITSIPs, the Evergy Companies are unable to accurately assess the impact on their operations or consolidated financial results, but the cost to comply could be material. In January 2024, the EPA proposed to disapprove the ITSIP for Kansas and four other states. The Kansas ITSIP was previously approved in April 2022. The impact of the EPA's disapproval of the Kansas ITSIP could have a material impact on the Evergy Companies' operations. 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 twenty-six 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 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 included 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, which included reduced ozone season NOx budgets for EGUs in Missouri, Oklahoma and other states, and included other features and requirements that were in the proposed version of the rule. Because the EPA's authority to impose an ITFIP for a state is triggered by the state's failure to submit an ITSIP addressing NAAQS by the statutory deadline or disapproval of an ITSIP, the EPA lacks authority under the Clean Air Act to impose an ITFIP on a state for which state implementation plan (SIP) disapprovals have been stayed by the courts. Accordingly, 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 originally included in the ITFIP, in January 2024, the EPA issued a proposal to include Kansas in the ITFIP. If finalized, the ITFIP for Kansas would become effective for the 2025 ozone season beginning in May 2025. In June 2024, the United States Supreme Court issued an order granting emergency motions for stay filed by state and industry petitioners of the final ITFIP pending further review of the ITFIP by the U.S. Court of Appeals for the D.C. Circuit (D.C. Circuit). Missouri, Kansas and Oklahoma are not named petitioners; therefore, the Evergy Companies are awaiting further guidance from the EPA regarding the status of the final ITFIP for Missouri and Oklahoma as well as the proposed ITFIP for Kansas. If the ITFIP ultimately takes effect for Missouri, Kansas and Oklahoma following the pending litigation, the impact on the Evergy Companies' operations and the cost to comply could be material. Particulate Matter National Ambient Air Quality Standards In March 2024, the EPA published in the Federal Register the final rule which strengthens the primary annual PM 2.5 (particulate matter less than 2.5 microns in diameter) NAAQS. The EPA is lowering the primary annual PM 2.5 NAAQS from 12.0 µg/m3 (micrograms per cubic meter) to 9.0 µg/m3. The final rule took effect in May 2024. The Evergy Companies are in the process of reviewing this final rule, however, due to uncertainty regarding the long-term implementation of this final rule, the Evergy Companies are unable to accurately assess the impacts on their operations or consolidated financial results, but the cost to comply with lower 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 2021. 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 in August 2022. As a result, in August 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. In July 2024, the EPA published in the Federal Register a proposal to partially approve and partially disapprove Missouri's Regional Haze SIP revision. The Kansas SIP revision requested no additional emission reductions by electric utilities based on the significant reductions that were achieved during the first implementation period. The Kansas Department of Health and Environment (KDHE) submitted the Kansas SIP revision in July 2021. In January 2024, the EPA issued a proposal to disapprove the Kansas SIP revision for failing to conduct a four-factor analysis for at least two emission sources in Kansas. 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. In June 2024, the EPA entered into a consent decree to resolve a suit filed by several environmental organizations for the EPA's nation-wide failure to take final action to approve or disapprove Regional Haze SIP revisions. If finalized, the overall costs of implementing these proposed rules could be material to the Evergy Companies. 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 April 2024, the EPA finalized the GHG regulations and GHG guidelines that apply to new and existing fossil fuel fired EGUs. The final GHG regulation establishes CO 2 limitations on emissions from new and reconstructed stationary combustion turbines. The GHG guidelines set CO 2 emission limitations for existing coal, oil and gas-fired steam generating units. For new and reconstructed stationary combustion turbines, the emission limitations were developed by applying the Best System of Emission Reduction (BSER) to three distinct subcategories (low load, intermediate load and base load) taking into consideration the annual capacity factor of the stationary combustion turbine. For intermediate and base load stationary combustion turbines, BSER is assumed to be the utilization of highly efficient combustion turbine technology. Base load stationary combustion turbines are also required to consider the emissions reduction associated with the application of carbon capture and sequestration (CCS) beginning in 2032. For existing coal-fired EGUs, the emission limitations were established by applying the BSER to two subcategories (medium and long-term). For medium-term existing coal-fired units, which are units retiring between 2032 and 2038, the BSER established emission limitation is based on co-firing natural gas beginning in 2030. For units operating in 2039 and after, BSER is the application of CCS starting in 2032. In July 2024, the D.C. Circuit denied motions of stay filed by various states, industry and trade organizations; however, the D.C. Circuit has ordered expedited review of the challenges to the final regulations and guidelines. The Evergy Companies are in the process of reviewing the final GHG regulation and guidelines however, due to uncertainty regarding the implementation of these final rules and ongoing judicial review, the Evergy Companies are unable to accurately assess the impacts on their operations or consolidated financial results, but the cost to comply could be material. Water The Evergy Companies discharge some of the water used in generation and other operations containing substances deemed to be pollutants. In April 2024, the EPA finalized an update to the Effluent Limitation Guidelines (ELG) for steam electric power generating facilities 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 (BATW), coal residual leachate (CRL), and legacy wastewater are addressed in the rulemaking. FGD, BATW and CRL at operating facilities are required to achieve zero liquid discharge as soon as feasible and no later than December 2029. The Evergy Companies have reviewed the modifications to limitations on FGD wastewater and bottom ash transport water and the Evergy Companies do not believe the impact to be material. The Evergy Companies are reviewing the limitations on CRL, its impact on their operations and financial results and believe the cost to comply will not be material. In June 2024, multiple legal challenges to the ELG were consolidated in the Eighth Circuit that could impact the timing or cost to comply. Regulation of CCRs In the course of operating their coal generation plants, the Evergy Companies produce 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. In June 2024, the D.C. Circuit dismissed these cases for lack of jurisdiction. Additional legal challenges on issues associated with the January 2022 determinations are expected. The cost to comply with these proposed determinations by the EPA could be material. In April 2024, the EPA finalized an expansion to the CCR regulations focused on legacy surface impoundments and historic placements of CCR. This regulation expands applicability of the 2015 CCR regulation to inactive landfills and beneficial use sites not previously regulated. |
RELATED PARTY TRANSACTIONS AND
RELATED PARTY TRANSACTIONS AND RELATIONSHIPS | 6 Months Ended |
Jun. 30, 2024 | |
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 Jeffrey Energy Center (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 2024 2023 2024 2023 (millions) Evergy Kansas Central billings to Evergy Missouri West $ 10.4 $ 9.9 $ 17.5 $ 16.1 Evergy Metro billings to Evergy Missouri West 31.3 30.4 59.5 57.2 Evergy Kansas Central billings to Evergy Metro 12.3 12.0 23.6 22.9 Evergy Metro billings to Evergy Kansas Central 32.8 31.7 65.2 60.6 Related Party Net Receivables and Payables The following table summarizes Evergy Kansas Central's and Evergy Metro's related party net receivables and payables. June 30 December 31 2024 2023 Evergy Kansas Central (millions) Net payable to Evergy $ (171.3) $ (274.5) Net payable to Evergy Metro (22.4) (19.6) Net receivable from Evergy Missouri West 17.2 11.3 Evergy Metro Net receivable from Evergy $ 17.9 $ 15.9 Net receivable from Evergy Kansas Central 22.4 19.6 Net receivable from Evergy Missouri West 74.2 91.9 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 June 30, 2024 and December 31, 2023, Evergy Metro had no outstanding receivables or payables under the money pool. As of June 30, 2024, Evergy Kansas Central had a $157.8 million outstanding payable to Evergy, Inc. under the money pool. As of December 31, 2023, Evergy Kansas Central had a $261.4 million outstanding payable to Evergy, Inc. under the money pool. 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. June 30 December 31 2024 2023 Evergy Kansas Central (millions) Income taxes receivable from (payable to) Evergy $ (2.9) $ 11.5 Evergy Metro Income taxes payable to Evergy $ (16.5) $ (6.8) |
VARIABLE INTEREST ENTITIES
VARIABLE INTEREST ENTITIES | 6 Months Ended |
Jun. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
VARIABLE INTEREST ENTITIES | VARIABLE INTEREST ENTITIES In determining the primary beneficiary of a VIE, the Evergy Companies assess the entity's purpose and design, including the nature of the entity's activities and the risks that the entity was designed to create and pass through to its variable interest holders. A reporting enterprise is deemed to be the primary beneficiary of a VIE if it has (a) the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and (b) the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. The primary beneficiary of a VIE is required to consolidate the VIE. All involvement with entities by the Evergy Companies is assessed to determine whether such entities are VIEs and, if so, whether or not the Evergy Companies are the primary beneficiaries of the entities. The Evergy Companies also continuously assess whether they are the primary beneficiary of the VIE with which they are involved. Prospective changes in facts and circumstances may cause identification of the primary beneficiary to be reconsidered. Evergy Missouri West Storm Funding In 2022, Evergy Missouri West created Evergy Missouri West Storm Funding solely for the purpose of recovering extraordinary fuel and purchased power costs incurred as part of the February 2021 winter weather event. In February 2024, Evergy Missouri West Storm Funding issued, at a discount, $331.1 million of 5.10% Securitized Bonds with a final payment scheduled for 2038, maturing in 2040. The obligations of Evergy Missouri West Storm Funding's Securitized Bonds are repaid through charges imposed on customers in Evergy Missouri West's service territory and collected by Evergy Missouri West on behalf of Evergy Missouri West Storm Funding. Creditors of Evergy Missouri West have no recourse to any assets or revenues of Evergy Missouri West Storm Funding, and the bondholders have no recourse to the general credit of Evergy Missouri West. See Note 4 for additional information regarding the February 2021 winter weather event securitization. Evergy Missouri West Storm Funding is considered a VIE. Evergy Missouri West is the primary beneficiary of the VIE primarily because, as described above, Evergy Missouri West has the power to direct the activities of Evergy Missouri West Storm Funding that most significantly impact economic performance and Evergy Missouri West has the obligation to absorb losses or the right to receive benefits from Evergy Missouri West Storm Funding that could potentially be significant. Therefore, Evergy Missouri West consolidates Evergy Missouri West Storm Funding. The following table summarizes the impact of Evergy Missouri West Storm Funding on Evergy's consolidated balance sheet as of June 30, 2024. There was no impact on Evergy's consolidated balance sheet as of December 31, 2023. June 30 2024 Evergy (millions) Current assets Regulatory assets $ 15.4 Other 6.9 Other assets Regulatory assets 302.6 Other 1.7 Current liabilities Current maturities of long-term debt 19.5 Accrued interest 6.0 Long-term liabilities Long-term debt, net 303.6 |
TAXES
TAXES | 6 Months Ended |
Jun. 30, 2024 | |
Income Tax Disclosure [Abstract] | |
TAXES | TAXES Components of income tax expense are detailed in the following tables. Evergy Three Months Ended Year to Date 2024 2023 2024 2023 Current income taxes (millions) Federal $ 0.7 $ 5.6 $ 10.9 $ 10.6 State 9.2 7.2 17.3 11.9 Total 9.9 12.8 28.2 22.5 Deferred income taxes Federal 6.7 5.5 4.2 13.2 State (7.4) (5.6) (14.1) (8.9) Total (0.7) (0.1) (9.9) 4.3 Investment tax credit amortization (1.8) (1.9) (3.6) (3.6) Income tax expense $ 7.4 $ 10.8 $ 14.7 $ 23.2 Evergy Kansas Central Three Months Ended Year to Date 2024 2023 2024 2023 Current income taxes (millions) Federal $ 10.2 $ 3.4 $ 14.5 $ 21.5 State 4.2 2.9 7.3 4.9 Total 14.4 6.3 21.8 26.4 Deferred income taxes Federal (7.7) (0.7) (10.2) (10.7) State (2.9) (1.6) (4.7) (2.3) Total (10.6) (2.3) (14.9) (13.0) Investment tax credit amortization (0.9) (0.9) (1.9) (1.9) Income tax expense $ 2.9 $ 3.1 $ 5.0 $ 11.5 Evergy Metro Three Months Ended Year to Date 2024 2023 2024 2023 Current income taxes (millions) Federal $ 3.9 $ 3.3 $ 5.9 $ (1.8) State 3.9 3.6 7.2 5.2 Total 7.8 6.9 13.1 3.4 Deferred income taxes Federal 6.0 8.1 10.8 20.5 State (3.3) (2.4) (6.2) (3.6) Total 2.7 5.7 4.6 16.9 Investment tax credit amortization (0.8) (0.9) (1.6) (1.7) Income tax expense $ 9.7 $ 11.7 $ 16.1 $ 18.6 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 2024 2023 2024 2023 Federal statutory income tax 21.0 % 21.0 % 21.0 % 21.0 % COLI policies (1.2) (1.3) (1.2) (1.3) State income taxes 0.5 — 0.5 0.2 Flow through depreciation for plant-related differences (8.7) (7.1) (8.6) (7.4) Federal tax credits (6.8) (6.3) (6.7) (5.0) Non-controlling interest (0.3) (0.3) (0.3) (0.3) AFUDC equity (0.4) (0.6) (0.3) (0.6) Amortization of federal investment tax credits (0.6) (0.6) (0.6) (0.6) Valuation allowance — 0.4 — 0.2 Officer compensation limitation (0.3) 0.2 0.1 0.2 Other 0.2 0.2 0.3 0.2 Effective income tax rate 3.4 % 5.6 % 4.2 % 6.6 % Evergy Kansas Central Three Months Ended Year to Date 2024 2023 2024 2023 Federal statutory income tax 21.0 % 21.0 % 21.0 % 21.0 % COLI policies (1.9) (2.3) (1.9) (2.4) State income taxes 0.6 0.7 0.6 0.7 Flow through depreciation for plant-related differences (5.8) (2.6) (5.6) (3.4) Federal tax credits (10.5) (12.3) (10.7) (9.0) Non-controlling interest (0.4) (0.5) (0.5) (0.5) AFUDC equity (0.5) (0.4) (0.5) (0.5) Amortization of federal investment tax credits (0.4) (0.4) (0.4) (0.4) Stock compensation — 0.1 — (0.1) Other 0.2 0.1 0.1 0.2 Effective income tax rate 2.3 % 3.4 % 2.1 % 5.6 % Evergy Metro Three Months Ended Year to Date 2024 2023 2024 2023 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 1.0 0.7 0.9 Flow through depreciation for plant-related differences (7.8) (8.4) (7.8) (8.3) Federal tax credits (0.7) (0.2) (0.7) (0.2) AFUDC equity (0.2) (0.9) (0.1) (0.9) Amortization of federal investment tax credits (0.8) (0.8) (0.8) (0.8) Stock compensation — — 0.6 0.4 Officer compensation limitation (0.4) 0.6 0.3 0.6 Other — (0.1) — (0.2) Effective income tax rate 11.6 % 12.1 % 13.1 % 12.4 % |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Pay vs Performance Disclosure | ||||
Net Income (Loss) | $ 207 | $ 179.1 | $ 329.7 | $ 321.7 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Jun. 30, 2024 | |
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) | 6 Months Ended |
Jun. 30, 2024 | |
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 2023 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 | 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 entities (VIE) of which Evergy and Evergy Kansas Central are the primary beneficiaries. 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). |
Cash and Cash Equivalents | Cash, Cash Equivalents and Restricted Cash Cash equivalents consists of highly liquid investments with original maturities of three months or less at acquisition. Evergy has restricted cash included in Other Current Assets and Other Non-current Assets on Evergy's consolidated balance sheet to facilitate the servicing of Evergy Missouri West Storm Funding I, LLC's (Evergy Missouri West Storm Funding) debt and the funding requirements for a jointly-owned generation facility. See Note 14 for additional information on the VIE. The following table summarizes the cash, cash equivalents and restricted cash included on Evergy's consolidated balance sheet. June 30 December 31 Evergy (millions) Current assets Cash and cash equivalents $ 26.1 $ 27.7 Other 7.7 — Other assets Other 1.7 — Total cash, cash equivalents and restricted cash $ 35.5 $ 27.7 |
Fuel Inventory and Supplies | Fuel Inventory and Supplies |
Earnings Per Share | Earnings Per Share To compute basic earnings per common 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, convertible notes and a warrant. Evergy computes the dilutive effects of potential issuances of common shares using the treasury stock method, the contingently issuable share method or the if-converted method, as applicable. |
ORGANIZATION AND BASIS OF PRE_3
ORGANIZATION AND BASIS OF PRESENTATION (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Restrictions on Cash and Cash Equivalents | The following table summarizes the cash, cash equivalents and restricted cash included on Evergy's consolidated balance sheet. June 30 December 31 Evergy (millions) Current assets Cash and cash equivalents $ 26.1 $ 27.7 Other 7.7 — Other assets Other 1.7 — Total cash, cash equivalents and restricted cash $ 35.5 $ 27.7 |
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. June 30 December 31 Evergy (millions) Fuel inventory $ 247.9 $ 257.3 Supplies 558.8 518.9 Fuel inventory and supplies $ 806.7 $ 776.2 Evergy Kansas Central Fuel inventory $ 139.7 $ 138.6 Supplies 291.1 273.3 Fuel inventory and supplies $ 430.8 $ 411.9 Evergy Metro Fuel inventory $ 71.5 $ 81.5 Supplies 198.4 183.1 Fuel inventory and supplies $ 269.9 $ 264.6 |
Summary of Property, Plant and Equipment | The following tables summarize the property, plant and equipment of Evergy, Evergy Kansas Central and Evergy Metro. June 30, 2024 Evergy Evergy Kansas Central Evergy Metro (millions) Electric plant in service $ 35,496.2 $ 17,285.0 $ 13,242.5 Electric plant acquisition adjustment 742.8 724.9 — Accumulated depreciation (13,738.4) (6,690.7) (5,578.1) Plant in service, net 22,500.6 11,319.2 7,664.4 Construction work in progress 1,618.3 1,031.2 450.2 Nuclear fuel, net 181.8 90.6 91.2 Plant to be retired, net (b) 0.7 0.7 — Property, plant and equipment, net $ 24,301.4 $ 12,441.7 $ 8,205.8 December 31, 2023 Evergy Evergy Kansas Central Evergy Metro (millions) Electric plant in service (a) $ 34,558.1 $ 16,858.7 $ 13,005.5 Electric plant acquisition adjustment 724.9 724.9 — Accumulated depreciation (a) (13,301.6) (6,502.7) (5,404.9) Plant in service, net (a) 21,981.4 11,080.9 7,600.6 Construction work in progress 1,543.5 939.1 428.7 Nuclear fuel, net 203.0 101.1 101.9 Plant to be retired, net (b) 0.8 0.8 — Property, plant and equipment, net (a) $ 23,728.7 $ 12,121.9 $ 8,131.2 (a) As of June 30, 2024, Evergy and Evergy Kansas Central classified Property, Plant and Equipment of VIE, net as Property, Plant and Equipment, net. To conform with the current period presentation, amounts previously reported as Property, Plant and Equipment of VIE, net as of December 31, 2023, have been reclassified to Property, Plant and Equipment, net. (b) As of June 30, 2024 and December 31, 2023, 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 2024 2023 2024 2023 Evergy (millions) Non-service cost component of net benefit cost $ (4.6) $ (16.0) $ (9.2) $ (30.8) Corporate-owned life insurance (6.3) (4.6) (10.8) (10.7) Other (0.5) (0.4) (0.9) (0.8) Other expense $ (11.4) $ (21.0) $ (20.9) $ (42.3) Evergy Kansas Central Non-service cost component of net benefit cost $ 0.6 $ (4.2) $ 1.1 $ (8.2) Corporate-owned life insurance (6.2) (4.5) (10.4) (10.3) Other (0.2) — (0.2) (0.1) Other expense $ (5.8) $ (8.7) $ (9.5) $ (18.6) Evergy Metro Non-service cost component of net benefit cost $ (3.1) $ (9.2) $ (6.1) $ (17.9) Corporate-owned life insurance (0.1) (0.1) (0.4) (0.4) Other (0.4) (0.5) (0.7) (0.5) Other expense $ (3.6) $ (9.8) $ (7.2) $ (18.8) |
Schedule of Earnings Per Share, Basic and Diluted | The following table reconciles Evergy's basic and diluted EPS. Three Months Ended Year to Date 2024 2023 2024 2023 Income (millions, except per share amounts) Net income $ 210.1 $ 182.2 $ 335.9 $ 327.9 Less: net income attributable to noncontrolling interests 3.1 3.1 6.2 6.2 Net income attributable to Evergy, Inc. $ 207.0 $ 179.1 $ 329.7 $ 321.7 Common Shares Outstanding Weighted average number of common shares outstanding - basic 230.3 230.1 230.2 230.0 Add: effect of dilutive securities 0.2 0.4 0.3 0.4 Diluted average number of common shares outstanding 230.5 230.5 230.5 230.4 Basic EPS $ 0.90 $ 0.78 $ 1.43 $ 1.40 Diluted EPS $ 0.90 $ 0.78 $ 1.43 $ 1.40 |
Supplemental Cash Flow Information | Supplemental Cash Flow Information Evergy Year to Date June 30 2024 2023 Cash paid for (received from): (millions) Interest, net of amount capitalized $ 265.5 $ 238.6 Income taxes, net of refunds 8.1 6.8 Right-of-use assets obtained in exchange for new operating lease liabilities 3.1 9.0 Right-of-use assets obtained in exchange for new finance lease liabilities 6.9 2.9 Non-cash investing transactions: Property, plant and equipment additions 115.1 120.1 Evergy Kansas Central Year to Date June 30 2024 2023 Cash paid for (received from): (millions) Interest, net of amount capitalized $ 108.1 $ 95.1 Income taxes, net of refunds 7.3 52.2 Right-of-use assets obtained in exchange for new operating lease liabilities 1.3 4.6 Right-of-use assets obtained in exchange for new finance lease liabilities 4.9 2.9 Non-cash investing transactions: Property, plant and equipment additions 72.5 58.6 Evergy Metro Year to Date June 30 2024 2023 Cash paid for (received from): (millions) Interest, net of amount capitalized $ 71.7 $ 64.4 Income taxes, net of refunds 3.5 (18.5) Right-of-use assets obtained in exchange for new operating lease liabilities 1.6 4.2 Right-of-use assets obtained in exchange for new finance lease liabilities 2.0 — Non-cash investing transactions: Property, plant and equipment additions 25.9 41.5 |
REVENUE (Tables)
REVENUE (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 2024 2023 2024 2023 Revenues (millions) Residential $ 536.7 $ 492.7 $ 1,015.7 $ 951.3 Commercial 485.8 460.7 918.5 890.7 Industrial 174.7 157.3 335.1 316.4 Other retail 10.2 8.9 22.1 20.2 Total electric retail $ 1,207.4 $ 1,119.6 $ 2,291.4 $ 2,178.6 Wholesale 73.3 83.1 144.3 153.5 Transmission 122.4 100.5 237.8 206.3 Industrial steam and other 4.0 5.8 14.2 17.5 Total revenue from contracts with customers $ 1,407.1 $ 1,309.0 $ 2,687.7 $ 2,555.9 Other 40.4 45.2 90.8 95.1 Operating revenues $ 1,447.5 $ 1,354.2 $ 2,778.5 $ 2,651.0 Evergy Kansas Central Three Months Ended Year to Date 2024 2023 2024 2023 Revenues (millions) Residential $ 233.7 $ 192.3 $ 448.0 $ 384.4 Commercial 208.3 180.7 391.9 358.8 Industrial 114.2 98.2 220.2 206.7 Other retail 6.0 2.5 12.1 6.8 Total electric retail $ 562.2 $ 473.7 $ 1,072.2 $ 956.7 Wholesale 47.7 58.8 115.8 126.4 Transmission 115.4 96.6 224.3 197.2 Other — — 1.8 1.7 Total revenue from contracts with customers $ 725.3 $ 629.1 $ 1,414.1 $ 1,282.0 Other 2.0 10.5 6.4 36.2 Operating revenues $ 727.3 $ 639.6 $ 1,420.5 $ 1,318.2 Evergy Metro Three Months Ended Year to Date 2024 2023 2024 2023 Revenues (millions) Residential $ 184.9 $ 186.0 $ 340.9 $ 344.0 Commercial 185.0 197.3 356.2 373.2 Industrial 33.5 35.0 64.7 63.4 Other retail 2.3 3.4 5.5 6.1 Total electric retail $ 405.7 $ 421.7 $ 767.3 $ 786.7 Wholesale 25.5 25.9 31.8 37.3 Transmission 4.9 3.3 9.8 7.1 Other — — 2.5 2.4 Total revenue from contracts with customers $ 436.1 $ 450.9 $ 811.4 $ 833.5 Other 37.9 34.4 83.5 58.2 Operating revenues $ 474.0 $ 485.3 $ 894.9 $ 891.7 |
RECEIVABLES (Tables)
RECEIVABLES (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Receivables [Abstract] | |
Schedule of Receivables | The Evergy Companies' receivables are detailed in the following table. June 30 December 31 2024 2023 Evergy (millions) Customer accounts receivable - billed $ 7.4 $ 2.6 Customer accounts receivable - unbilled 279.5 109.1 Other receivables 160.4 169.4 Allowance for credit losses (18.0) (24.2) Total $ 429.3 $ 256.9 Evergy Kansas Central Customer accounts receivable - billed $ — $ — Customer accounts receivable - unbilled 112.4 39.9 Other receivables 134.4 143.5 Allowance for credit losses (8.8) (11.6) Total $ 238.0 $ 171.8 Evergy Metro Customer accounts receivable - billed $ — $ — Customer accounts receivable - unbilled 93.2 27.2 Other receivables 36.1 35.7 Allowance for credit losses (6.3) (7.9) Total $ 123.0 $ 55.0 June 30 December 31 2024 2023 (millions) Evergy $ 85.1 $ 61.5 Evergy Kansas Central 76.4 59.9 Evergy Metro 7.4 0.8 June 30 December 31 2024 2023 (millions) Evergy $ 329.0 $ 342.0 Evergy Kansas Central 169.0 166.0 Evergy Metro 110.0 126.0 |
Summary of Bad Debt Expense | The change in the Evergy Companies' allowance for credit losses is summarized in the following table. 2024 2023 Evergy (millions) Beginning balance January 1 $ 24.2 $ 31.4 Credit loss expense 2.0 0.6 Write-offs (14.6) (15.0) Recoveries of prior write-offs 6.4 5.6 Ending balance June 30 $ 18.0 $ 22.6 Evergy Kansas Central Beginning balance January 1 $ 11.6 $ 16.9 Credit loss expense (income) 1.4 (0.2) Write-offs (7.1) (8.0) Recoveries of prior write-offs 2.9 2.4 Ending balance June 30 $ 8.8 $ 11.1 Evergy Metro Beginning balance January 1 $ 7.9 $ 9.3 Credit loss expense 1.1 0.6 Write-offs (5.1) (4.7) Recoveries of prior write-offs 2.4 2.1 Ending balance June 30 $ 6.3 $ 7.3 |
ASSET RETIREMENT OBLIGATIONS (T
ASSET RETIREMENT OBLIGATIONS (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Schedule of Change in Asset Retirement Obligation | The following table summarizes the change in the Evergy Companies' AROs for the periods ending June 30, 2024 and December 31, 2023. Evergy Evergy Kansas Central Evergy Metro 2024 2023 2024 2023 2024 2023 (millions) Beginning balance January 1 $ 1,203.1 $ 1,153.2 $ 599.3 $ 565.1 $ 460.4 $ 444.2 Additions 72.8 9.7 44.8 9.7 24.1 — Revision in timing and/or estimates — 3.2 — 1.6 — 1.6 Settlements (7.0) (21.8) (4.5) (9.8) (2.3) (8.6) Accretion 28.4 58.8 16.4 32.7 10.3 23.2 Ending balance $ 1,297.3 $ 1,203.1 $ 656.0 $ 599.3 $ 492.5 $ 460.4 Less: current portion (44.9) (40.3) (25.9) (22.2) (16.6) (16.0) Total noncurrent asset $ 1,252.4 $ 1,162.8 $ 630.1 $ 577.1 $ 475.9 $ 444.4 |
PENSION PLANS AND POST-RETIRE_2
PENSION PLANS AND POST-RETIREMENT BENEFITS (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 June 30, 2024 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 11.5 $ 4.8 $ 6.7 $ 0.4 $ 0.2 $ 0.2 Interest cost 22.4 11.4 10.8 2.5 1.3 1.3 Expected return on plan assets (21.7) (10.8) (11.0) (2.9) (1.5) (1.3) Prior service cost 0.5 0.5 — — — (0.1) Recognized net actuarial (gain) loss (4.4) 0.2 (4.3) (1.0) (0.5) (0.5) Net periodic benefit costs before regulatory adjustment and intercompany allocations 8.3 6.1 2.2 (1.0) (0.5) (0.4) Regulatory adjustment 6.9 (1.1) 7.8 — 0.2 (0.1) Intercompany allocations — (0.6) (0.6) — — 0.2 Net periodic benefit costs (income) $ 15.2 $ 4.4 $ 9.4 $ (1.0) $ (0.3) $ (0.3) Pension Benefits Post-Retirement Benefits Year to Date June 30, 2024 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 23.0 $ 9.5 $ 13.5 $ 0.8 $ 0.4 $ 0.4 Interest cost 44.8 22.8 21.5 5.0 2.6 2.5 Expected return on plan assets (43.4) (21.5) (21.9) (5.7) (3.0) (2.7) Prior service cost 1.0 1.0 — — — (0.2) Recognized net actuarial (gain)/loss (8.7) 0.4 (8.7) (2.0) (1.0) (0.9) Net periodic benefit costs before regulatory adjustment and intercompany allocations 16.7 12.2 4.4 (1.9) (1.0) (0.9) Regulatory adjustment 12.6 (3.2) 15.5 — 0.4 (0.2) Intercompany allocations — (1.0) (1.1) — — 0.3 Net periodic benefit costs (income) $ 29.3 $ 8.0 $ 18.8 $ (1.9) $ (0.6) $ (0.8) Pension Benefits Post-Retirement Benefits Three Months Ended June 30, 2023 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 12.0 $ 5.0 $ 7.0 $ 0.5 $ 0.3 $ 0.2 Interest cost 23.0 11.8 10.9 2.8 1.3 1.4 Expected return on plan assets (22.1) (11.2) (10.9) (3.0) (1.5) (1.4) Prior service cost 0.5 0.5 — — — (0.1) Recognized net actuarial (gain)/loss (3.9) 0.1 (3.8) (1.1) (0.5) (0.5) Settlement (gain) loss (2.0) 0.2 (2.2) — — — Net periodic benefit costs before regulatory adjustment and intercompany allocations 7.5 6.4 1.0 (0.8) (0.4) (0.4) Regulatory adjustment 22.0 6.9 15.1 (0.2) (0.6) 0.4 Intercompany allocations — (0.6) (0.3) — — — Net periodic benefit costs (income) $ 29.5 $ 12.7 $ 15.8 $ (1.0) $ (1.0) $ — Pension Benefits Post-Retirement Benefits Year to Date June 30, 2023 Evergy Evergy Kansas Central Evergy Metro Evergy Evergy Kansas Central Evergy Metro Components of net periodic benefit costs (millions) Service cost $ 23.2 $ 9.6 $ 13.6 $ 0.9 $ 0.5 $ 0.4 Interest cost 45.4 23.2 21.7 5.6 2.7 2.7 Expected return on plan assets (43.9) (22.2) (21.7) (6.0) (3.0) (2.8) Prior service cost 1.0 1.0 — — — (0.2) Recognized net actuarial (gain)/loss (9.5) (0.7) (8.4) (2.1) (1.0) (1.0) Settlement (gain) loss (17.9) 0.6 (18.5) — — — Net periodic benefit costs before regulatory adjustment and intercompany allocations (1.7) 11.5 (13.3) (1.6) (0.8) (0.9) Regulatory adjustment 55.5 14.3 41.0 (0.3) (1.2) 1.0 Intercompany allocations — (1.1) (0.5) — 0.1 — Net periodic benefit costs (income) $ 53.8 $ 24.7 $ 27.2 $ (1.9) $ (1.9) $ 0.1 |
SHORT-TERM BORROWINGS AND SHO_2
SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 June 30, 2024 and December 31, 2023. Amounts Drawn Master Credit Facility Commercial Paper Letters of Credit Cash Borrowings Available Borrowings Weighted Average Interest Rate on Short-Term Borrowings June 30, 2024 (millions) Evergy, Inc. $ 200.0 $ — $ 0.7 $ — $ 199.3 —% Evergy Kansas Central 750.0 595.6 1.0 — 153.4 5.53% Evergy Metro 850.0 264.3 1.0 — 584.7 5.50% Evergy Missouri West 700.0 109.8 — — 590.2 5.49% Evergy $ 2,500.0 $ 969.7 $ 2.7 $ — $ 1,527.6 December 31, 2023 Evergy, Inc. $ 300.0 $ — $ 0.7 $ — $ 299.3 —% Evergy Kansas Central 750.0 230.4 1.0 — 518.6 5.56% Evergy Metro 750.0 423.3 — — 326.7 5.58% Evergy Missouri West 700.0 298.1 — — 401.9 5.66% Evergy $ 2,500.0 $ 951.8 $ 1.7 $ — $ 1,546.5 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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. June 30 December 31 Non-hedging derivatives Notional volume unit of measure 2024 2023 Evergy (millions) Commodity contracts Power MWhs 108.9 52.9 Natural gas MMBtu 774.1 559.9 Evergy Kansas Central Commodity contracts Power MWhs 63.2 32.1 Natural gas MMBtu 774.1 558.7 Evergy Metro Commodity contracts Power MWhs 34.6 15.1 |
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. June 30 December 31 Evergy 2024 2023 Non-hedging derivatives Balance sheet location Commodity contracts (millions) Power Other assets - current $ 23.7 $ 23.2 Other assets - long-term 40.5 35.7 Natural gas Other assets - current 27.2 68.1 Other assets - long-term 4.1 6.0 Total derivative assets $ 95.5 $ 133.0 Commodity contracts Power Other liabilities - current $ 13.5 $ 21.0 Other liabilities - long-term 38.0 32.9 Natural gas Other liabilities - current 29.2 68.1 Other liabilities - long-term 4.7 6.8 Total derivative liabilities $ 85.4 $ 128.8 June 30 December 31 Evergy Kansas Central 2024 2023 Non-hedging derivatives Balance sheet location Commodity contracts (millions) Power Other assets - current $ 13.4 $ 18.3 Other assets - long-term 40.5 35.7 Natural gas Other assets - current 27.2 68.1 Other assets - long-term 4.1 6.0 Total derivative assets $ 85.2 $ 128.1 Commodity contracts Power Other liabilities - current $ 11.7 $ 14.3 Other liabilities - long-term 38.0 32.9 Natural gas Other liabilities - current 29.2 67.0 Other liabilities - long-term 4.7 6.8 Total derivative liabilities $ 83.6 $ 121.0 June 30 December 31 Evergy Metro 2024 2023 Non-hedging derivatives Balance sheet location Commodity contracts (millions) Power Other assets - current $ 6.6 $ 2.1 Total derivative assets $ 6.6 $ 2.1 Commodity contracts Power Other liabilities - current $ 1.0 $ 5.7 Total derivative liabilities $ 1.0 $ 5.7 |
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. June 30, 2024 Evergy Evergy Kansas Central Evergy Metro Derivative Assets (millions) Current Gross amounts recognized $ 50.9 $ 40.6 $ 6.6 Gross amounts offset (36.9) (35.1) (1.0) Net amounts presented in other assets - current $ 14.0 $ 5.5 $ 5.6 Long-Term Gross amounts recognized $ 44.6 $ 44.6 $ — Gross amounts offset (12.3) (12.3) — Net amounts presented in other assets - long-term $ 32.3 $ 32.3 $ — Derivative Liabilities Current Gross amounts recognized $ 42.7 $ 40.9 $ 1.0 Gross amounts offset (35.4) (33.5) (1.0) Net amounts presented in other liabilities - current $ 7.3 $ 7.4 $ — Long-Term Gross amounts recognized $ 42.7 $ 42.7 $ — Gross amounts offset (6.7) (6.8) — Net amounts presented in other liabilities - long-term $ 36.0 $ 35.9 $ — December 31, 2023 Evergy Evergy Kansas Central Evergy Metro Derivative Assets (millions) Current Gross amounts recognized $ 91.3 $ 86.4 $ 2.1 Gross amounts offset (78.4) (75.3) (2.1) Net amounts presented in other assets - current $ 12.9 $ 11.1 $ — Long-Term Gross amounts recognized $ 41.7 $ 41.7 $ — Gross amounts offset (11.9) (11.9) — Net amounts presented in other assets - long-term $ 29.8 $ 29.8 $ — Derivative Liabilities Current Gross amounts recognized $ 89.1 $ 81.3 $ 5.7 Gross amounts offset (77.5) (74.4) (2.1) Net amounts presented in other liabilities - current $ 11.6 $ 6.9 $ 3.6 Long-Term Gross amounts recognized $ 39.7 $ 39.7 $ — Gross amounts offset (5.9) (5.9) — Net amounts presented in other liabilities - long-term $ 33.8 $ 33.8 $ — |
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 2024 2023 2024 2023 Evergy (millions) Operating revenues Commodity $ (3.9) $ 2.7 $ (9.9) $ 17.6 Total $ (3.9) $ 2.7 $ (9.9) $ 17.6 Evergy Kansas Central Operating revenues Commodity $ (3.9) $ 2.7 $ (9.9) $ 17.6 Total $ (3.9) $ 2.7 $ (9.9) $ 17.6 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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. June 30, 2024 December 31, 2023 Book Value Fair Value Book Value Fair Value Long-term debt (a) (millions) Evergy (b) $ 12,774.1 $ 11,699.3 $ 11,853.3 $ 11,044.9 Evergy Kansas Central 4,581.8 4,031.8 4,580.4 4,176.6 Evergy Metro 3,222.5 2,958.8 2,924.4 2,738.8 (a) Includes current maturities. (b) Book value as of June 30, 2024 and December 31, 2023, includes $84.3 million and $87.0 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 June 30, 2024 Netting Level 1 Level 2 Level 3 NAV Evergy Kansas Central (millions) Assets Nuclear decommissioning trust (a) Domestic equity funds $ 143.8 $ — $ 134.1 $ — $ — $ 9.7 International equity funds 77.4 — 77.4 — — — Core bond fund 57.8 — 57.8 — — — High-yield bond fund 30.4 — 30.4 — — — Emerging markets bond fund 18.5 — 18.5 — — — Alternative investments fund 42.9 — — — — 42.9 Real estate securities fund 16.3 — — — — 16.3 Cash equivalents 0.5 — 0.5 — — — Total nuclear decommissioning trust 387.6 — 318.7 — — 68.9 Rabbi trust Fixed income funds 14.6 — 14.6 — — — Equity funds 7.0 — 7.0 — — — Combination debt/equity/other fund 1.7 — 1.7 — — — Cash equivalents 0.2 — 0.2 — — — Total rabbi trust 23.5 — 23.5 — — — Derivative instruments - commodity contracts (b) Power 37.0 (16.9) 15.9 36.4 1.6 — Natural gas 0.8 (30.5) 25.2 6.1 — — Total derivative assets 37.8 (47.4) 41.1 42.5 1.6 — Total assets 448.9 (47.4) 383.3 42.5 1.6 68.9 Liabilities Derivative instruments - commodity contracts (b) Power 39.9 (9.8) 8.1 40.0 1.6 — Natural gas 3.4 (30.5) 27.7 6.2 — — Total derivative liabilities 43.3 (40.3) 35.8 46.2 1.6 — Total liabilities $ 43.3 $ (40.3) $ 35.8 $ 46.2 $ 1.6 $ — Evergy Metro Assets Nuclear decommissioning trust (a) Equity securities $ 340.6 $ — $ 340.6 $ — $ — $ — Debt securities U.S. Treasury 47.0 — 47.0 — — — State and local obligations 2.2 — — 2.2 — — Corporate bonds 46.8 — — 46.8 — — Foreign governments 0.1 — — 0.1 — — Cash equivalents 3.4 — 3.4 — — — Total nuclear decommissioning trust 440.1 — 391.0 49.1 — — Self-insured health plan trust (c) Equity securities 2.2 — 2.2 — — — Debt securities 11.4 — 2.6 8.8 — — Cash and cash equivalents 3.3 — 3.3 — — — Total self-insured health plan trust 16.9 — 8.1 8.8 — — Derivative instruments - commodity contracts (b) Power 5.6 (1.0) — — 6.6 — Total derivative assets 5.6 (1.0) — — 6.6 — Total assets 462.6 (1.0) 399.1 57.9 6.6 — Liabilities Derivative instruments - commodity contracts (b) Power — (1.0) — — 1.0 — Total derivative liabilities — (1.0) — — 1.0 — Total liabilities $ — $ (1.0) $ — $ — $ 1.0 $ — Description June 30, 2024 Netting Level 1 Level 2 Level 3 NAV Other Evergy (millions) Assets Rabbi trusts Core bond fund $ 8.5 $ — $ 8.5 $ — $ — $ — Total rabbi trusts 8.5 — 8.5 — — — Derivative instruments - commodity contracts (b) Power 2.9 (0.8) — — 3.7 — Total derivative assets 2.9 (0.8) — — 3.7 — Total assets 11.4 (0.8) 8.5 — 3.7 — Liabilities Derivative instruments - commodity contracts (b) Power — (0.8) — — 0.8 — Total derivative liabilities — (0.8) — — 0.8 — Total liabilities $ — $ (0.8) $ — $ — $ 0.8 $ — Evergy Assets Nuclear decommissioning trust (a) $ 827.7 $ — $ 709.7 $ 49.1 $ — $ 68.9 Rabbi trusts 32.0 — 32.0 — — — Self-insured health plan trust (c) 16.9 — 8.1 8.8 — — Derivative instruments - commodity contracts (b) Power 45.5 (18.7) 15.9 36.4 11.9 — Natural gas 0.8 (30.5) 25.2 6.1 — — Total derivative assets 46.3 (49.2) 41.1 42.5 11.9 — Total assets 922.9 (49.2) 790.9 100.4 11.9 68.9 Liabilities Derivative instruments - commodity contracts (b) Power 39.9 (11.6) 8.1 40.0 3.4 — Natural gas 3.4 (30.5) 27.7 6.2 — — Total derivative liabilities 43.3 (42.1) 35.8 46.2 3.4 — Total liabilities $ 43.3 $ (42.1) $ 35.8 $ 46.2 $ 3.4 $ — Description December 31, 2023 Netting Level 1 Level 2 Level 3 NAV Evergy Kansas Central (millions) Assets Nuclear decommissioning trust (a) Domestic equity funds $ 133.1 $ — $ 123.3 $ — $ — $ 9.8 International equity funds 72.6 — 72.6 — — — Core bond fund 56.2 — 56.2 — — — High-yield bond fund 29.1 — 29.1 — — — Emerging markets bond fund 18.3 — 18.3 — — — Alternative investments fund 37.9 — — — — 37.9 Real estate securities fund 17.2 — — — — 17.2 Cash equivalents 0.7 — 0.7 — — — Total nuclear decommissioning trust 365.1 — 300.2 — — 64.9 Rabbi trust Fixed income funds 15.2 — 15.2 — — — Equity funds 7.4 — 7.4 — — — Combination debt/equity/other fund 1.7 — 1.7 — — — Cash equivalents 0.2 — 0.2 — — — Total rabbi trust 24.5 — 24.5 — — — Derivative instruments - commodity contracts (b) Power 40.2 (13.8) 16.3 32.2 5.5 — Natural gas 0.7 (73.4) 72.7 1.4 — — Total derivative assets 40.9 (87.2) 89.0 33.6 5.5 — Total assets 430.5 (87.2) 413.7 33.6 5.5 64.9 Liabilities Derivative instruments - commodity contracts (b) Power 40.3 (6.9) 9.4 34.6 3.2 — Natural gas 0.4 (73.4) 72.6 1.2 — — Total derivative liabilities 40.7 (80.3) 82.0 35.8 3.2 — Total liabilities $ 40.7 $ (80.3) $ 82.0 $ 35.8 $ 3.2 $ — Evergy Metro Assets Nuclear decommissioning trust (a) Equity securities $ 302.4 $ — $ 302.4 $ — $ — $ — Debt securities U.S. Treasury 47.9 — 47.9 — — — State and local obligations 3.8 — — 3.8 — — Corporate bonds 43.9 — — 43.9 — — Foreign governments 0.1 — — 0.1 — — Cash equivalents 3.2 — 3.2 — — — Total nuclear decommissioning trust 401.3 — 353.5 47.8 — — Self-insured health plan trust (c) Equity securities 2.0 — 2.0 — — — Debt securities 9.4 — 2.5 6.9 — — Cash and cash equivalents 4.3 — 4.3 — — — Total self-insured health plan trust 15.7 — 8.8 6.9 — — Derivative instruments - commodity contracts (b) Power — (2.1) — — 2.1 — Total derivative assets — (2.1) — — 2.1 — Total assets 417.0 (2.1) 362.3 54.7 2.1 — Liabilities Derivative instruments - commodity contracts (b) Power 3.6 (2.1) — — 5.7 — Total derivative liabilities 3.6 (2.1) — — 5.7 — Total liabilities $ 3.6 $ (2.1) $ — $ — $ 5.7 $ — Description December 31, 2023 Netting Level 1 Level 2 Level 3 NAV Other Evergy (millions) Assets Rabbi trusts Core bond fund $ 8.8 $ — $ 8.8 $ — $ — $ — Total rabbi trusts 8.8 — 8.8 — — — Derivative instruments - commodity contracts (b) Power 1.8 (1.0) — — 2.8 — Total derivative assets 1.8 (1.0) — — 2.8 — Total assets 10.6 (1.0) 8.8 — 2.8 — Liabilities Derivative instruments - commodity contracts (b) Power — (1.0) — — 1.0 — Natural gas 1.1 — — 1.1 — — Total derivative liabilities 1.1 (1.0) — 1.1 1.0 — Total liabilities $ 1.1 $ (1.0) $ — $ 1.1 $ 1.0 $ — Evergy Assets Nuclear decommissioning trust (a) $ 766.4 $ — $ 653.7 $ 47.8 $ — $ 64.9 Rabbi trusts 33.3 — 33.3 — — — Self-insured health plan trust (c) 15.7 — 8.8 6.9 — — Derivative instruments - commodity contracts (b) Power 42.0 (16.9) 16.3 32.2 10.4 — Natural gas 0.7 (73.4) 72.7 1.4 — — Total derivative assets 42.7 (90.3) 89.0 33.6 10.4 — Total assets 858.1 (90.3) 784.8 88.3 10.4 64.9 Liabilities Derivative instruments - commodity contracts (b) Power 43.9 (10.0) 9.4 34.6 9.9 — Natural gas 1.5 (73.4) 72.6 2.3 — — Total derivative liabilities 45.4 (83.4) 82.0 36.9 9.9 — Total liabilities $ 45.4 $ (83.4) $ 82.0 $ 36.9 $ 9.9 $ — (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. June 30, 2024 December 31, 2023 June 30, 2024 Fair Unfunded Fair Unfunded Redemption Length of Value Commitments Value Commitments Frequency Settlement Evergy Kansas Central (millions) Nuclear decommissioning trust: Domestic equity funds $ 9.7 $ 1.4 $ 9.8 $ 1.4 (a) (a) Alternative investments fund (b) 42.9 — 37.9 — Quarterly 65 days Real estate securities fund (b) 16.3 — 17.2 — Quarterly 65 days Total Evergy investments at NAV $ 68.9 $ 1.4 $ 64.9 $ 1.4 (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. All funds have begun to make distributions. (b) |
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 2024 2023 2024 2023 Evergy (millions) Nuclear decommissioning trust - equity securities $ 22.0 $ 25.2 $ 52.3 $ 54.7 Nuclear decommissioning trust - debt securities (0.4) (1.3) (1.7) 0.8 Rabbi trusts - equity securities (0.1) 0.1 0.3 1.7 Total $ 21.5 $ 24.0 $ 50.9 $ 57.2 Evergy Kansas Central Nuclear decommissioning trust - equity securities $ 12.0 $ 7.9 $ 20.5 $ 22.0 Rabbi trust - equity securities — 0.2 0.5 1.5 Total $ 12.0 $ 8.1 $ 21.0 $ 23.5 Evergy Metro Nuclear decommissioning trust - equity securities $ 10.0 $ 17.3 $ 31.8 $ 32.7 Nuclear decommissioning trust - debt securities (0.4) (1.3) (1.7) 0.8 Total $ 9.6 $ 16.0 $ 30.1 $ 33.5 |
RELATED PARTY TRANSACTIONS AN_2
RELATED PARTY TRANSACTIONS AND RELATIONSHIPS (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 2024 2023 2024 2023 (millions) Evergy Kansas Central billings to Evergy Missouri West $ 10.4 $ 9.9 $ 17.5 $ 16.1 Evergy Metro billings to Evergy Missouri West 31.3 30.4 59.5 57.2 Evergy Kansas Central billings to Evergy Metro 12.3 12.0 23.6 22.9 Evergy Metro billings to Evergy Kansas Central 32.8 31.7 65.2 60.6 The following table summarizes Evergy Kansas Central's and Evergy Metro's related party net receivables and payables. June 30 December 31 2024 2023 Evergy Kansas Central (millions) Net payable to Evergy $ (171.3) $ (274.5) Net payable to Evergy Metro (22.4) (19.6) Net receivable from Evergy Missouri West 17.2 11.3 Evergy Metro Net receivable from Evergy $ 17.9 $ 15.9 Net receivable from Evergy Kansas Central 22.4 19.6 Net receivable from Evergy Missouri West 74.2 91.9 June 30 December 31 2024 2023 Evergy Kansas Central (millions) Income taxes receivable from (payable to) Evergy $ (2.9) $ 11.5 Evergy Metro Income taxes payable to Evergy $ (16.5) $ (6.8) |
VARIABLE INTEREST ENTITIES (Tab
VARIABLE INTEREST ENTITIES (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Variable Interest Entities | The following table summarizes the impact of Evergy Missouri West Storm Funding on Evergy's consolidated balance sheet as of June 30, 2024. There was no impact on Evergy's consolidated balance sheet as of December 31, 2023. June 30 2024 Evergy (millions) Current assets Regulatory assets $ 15.4 Other 6.9 Other assets Regulatory assets 302.6 Other 1.7 Current liabilities Current maturities of long-term debt 19.5 Accrued interest 6.0 Long-term liabilities Long-term debt, net 303.6 |
TAXES (Tables)
TAXES (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 2024 2023 2024 2023 Current income taxes (millions) Federal $ 0.7 $ 5.6 $ 10.9 $ 10.6 State 9.2 7.2 17.3 11.9 Total 9.9 12.8 28.2 22.5 Deferred income taxes Federal 6.7 5.5 4.2 13.2 State (7.4) (5.6) (14.1) (8.9) Total (0.7) (0.1) (9.9) 4.3 Investment tax credit amortization (1.8) (1.9) (3.6) (3.6) Income tax expense $ 7.4 $ 10.8 $ 14.7 $ 23.2 Evergy Kansas Central Three Months Ended Year to Date 2024 2023 2024 2023 Current income taxes (millions) Federal $ 10.2 $ 3.4 $ 14.5 $ 21.5 State 4.2 2.9 7.3 4.9 Total 14.4 6.3 21.8 26.4 Deferred income taxes Federal (7.7) (0.7) (10.2) (10.7) State (2.9) (1.6) (4.7) (2.3) Total (10.6) (2.3) (14.9) (13.0) Investment tax credit amortization (0.9) (0.9) (1.9) (1.9) Income tax expense $ 2.9 $ 3.1 $ 5.0 $ 11.5 Evergy Metro Three Months Ended Year to Date 2024 2023 2024 2023 Current income taxes (millions) Federal $ 3.9 $ 3.3 $ 5.9 $ (1.8) State 3.9 3.6 7.2 5.2 Total 7.8 6.9 13.1 3.4 Deferred income taxes Federal 6.0 8.1 10.8 20.5 State (3.3) (2.4) (6.2) (3.6) Total 2.7 5.7 4.6 16.9 Investment tax credit amortization (0.8) (0.9) (1.6) (1.7) Income tax expense $ 9.7 $ 11.7 $ 16.1 $ 18.6 |
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 2024 2023 2024 2023 Federal statutory income tax 21.0 % 21.0 % 21.0 % 21.0 % COLI policies (1.2) (1.3) (1.2) (1.3) State income taxes 0.5 — 0.5 0.2 Flow through depreciation for plant-related differences (8.7) (7.1) (8.6) (7.4) Federal tax credits (6.8) (6.3) (6.7) (5.0) Non-controlling interest (0.3) (0.3) (0.3) (0.3) AFUDC equity (0.4) (0.6) (0.3) (0.6) Amortization of federal investment tax credits (0.6) (0.6) (0.6) (0.6) Valuation allowance — 0.4 — 0.2 Officer compensation limitation (0.3) 0.2 0.1 0.2 Other 0.2 0.2 0.3 0.2 Effective income tax rate 3.4 % 5.6 % 4.2 % 6.6 % Evergy Kansas Central Three Months Ended Year to Date 2024 2023 2024 2023 Federal statutory income tax 21.0 % 21.0 % 21.0 % 21.0 % COLI policies (1.9) (2.3) (1.9) (2.4) State income taxes 0.6 0.7 0.6 0.7 Flow through depreciation for plant-related differences (5.8) (2.6) (5.6) (3.4) Federal tax credits (10.5) (12.3) (10.7) (9.0) Non-controlling interest (0.4) (0.5) (0.5) (0.5) AFUDC equity (0.5) (0.4) (0.5) (0.5) Amortization of federal investment tax credits (0.4) (0.4) (0.4) (0.4) Stock compensation — 0.1 — (0.1) Other 0.2 0.1 0.1 0.2 Effective income tax rate 2.3 % 3.4 % 2.1 % 5.6 % Evergy Metro Three Months Ended Year to Date 2024 2023 2024 2023 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 1.0 0.7 0.9 Flow through depreciation for plant-related differences (7.8) (8.4) (7.8) (8.3) Federal tax credits (0.7) (0.2) (0.7) (0.2) AFUDC equity (0.2) (0.9) (0.1) (0.9) Amortization of federal investment tax credits (0.8) (0.8) (0.8) (0.8) Stock compensation — — 0.6 0.4 Officer compensation limitation (0.4) 0.6 0.3 0.6 Other — (0.1) — (0.2) Effective income tax rate 11.6 % 12.1 % 13.1 % 12.4 % |
ORGANIZATION AND BASIS OF PRE_4
ORGANIZATION AND BASIS OF PRESENTATION - Organization (Details) customer in Millions, $ in Millions | 1 Months Ended | 6 Months Ended |
Apr. 30, 2024 USD ($) MW | Jun. 30, 2024 customer kilovolt_line subsidiary segment mi MW | |
Summary Of Accounting Policies [Line Items] | ||
Owned generating capacity and renewable purchased power | 15,800 | |
Number of customers served | customer | 1.7 | |
Number of segments | segment | 1 | |
2024 Natural Gas Plant Purchase | ||
Summary Of Accounting Policies [Line Items] | ||
Jointly owned utility plant, proportionate ownership share | 22% | |
ApproximateMWNameplateCapacity | 145 | |
Asset Acquisition, Consideration Transferred | $ | $ 60 | |
Dogwood costs recovery period | 2 years | |
Prairie Wind Transmission, LLC | ||
Summary Of Accounting Policies [Line Items] | ||
Transmission line length | mi | 108 | |
Transmission line electrical potential | kilovolt_line | 345 | |
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 - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Restricted Cash and Cash Equivalents Items [Line Items] | ||||
Cash and cash equivalents | $ 26.1 | $ 27.7 | ||
Other | 7.7 | 0 | ||
Other | 1.7 | 0 | ||
Total cash, cash equivalents and restricted cash | 35.5 | $ 27.7 | $ 31.4 | $ 25.2 |
Variable Interest Entities | ||||
Restricted Cash and Cash Equivalents Items [Line Items] | ||||
Other | 6.9 | |||
Other | $ 1.7 |
ORGANIZATION AND BASIS OF PRE_6
ORGANIZATION AND BASIS OF PRESENTATION - Fuel Inventory and Supplies (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Inventory [Line Items] | ||
Fuel inventory | $ 247.9 | $ 257.3 |
Supplies | 558.8 | 518.9 |
Fuel inventory and supplies | 806.7 | 776.2 |
Evergy Kansas Central | ||
Inventory [Line Items] | ||
Fuel inventory | 139.7 | 138.6 |
Supplies | 291.1 | 273.3 |
Fuel inventory and supplies | 430.8 | 411.9 |
Evergy Metro | ||
Inventory [Line Items] | ||
Fuel inventory | 71.5 | 81.5 |
Supplies | 198.4 | 183.1 |
Fuel inventory and supplies | $ 269.9 | $ 264.6 |
ORGANIZATION AND BASIS OF PRE_7
ORGANIZATION AND BASIS OF PRESENTATION - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | $ 24,301.4 | $ 23,728.7 |
Electric plant in service | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 35,496.2 | 34,558.1 |
Property, plant and equipment, adjustment | 742.8 | 724.9 |
Accumulated depreciation | (13,738.4) | (13,301.6) |
Property, plant and equipment, net | 22,500.6 | 21,981.4 |
Construction work in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 1,618.3 | 1,543.5 |
Nuclear fuel, net | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 181.8 | 203 |
Plant to be retired, net | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 0.7 | 0.8 |
Evergy Kansas Central | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 12,441.7 | 12,121.9 |
Evergy Kansas Central | Electric plant in service | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 17,285 | 16,858.7 |
Property, plant and equipment, adjustment | 724.9 | 724.9 |
Accumulated depreciation | (6,690.7) | (6,502.7) |
Property, plant and equipment, net | 11,319.2 | 11,080.9 |
Evergy Kansas Central | Construction work in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 1,031.2 | 939.1 |
Evergy Kansas Central | Nuclear fuel, net | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 90.6 | 101.1 |
Evergy Kansas Central | Plant to be retired, net | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 0.7 | 0.8 |
Evergy Metro | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 8,205.8 | 8,131.2 |
Evergy Metro | Electric plant in service | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 13,242.5 | 13,005.5 |
Property, plant and equipment, adjustment | 0 | 0 |
Accumulated depreciation | (5,578.1) | (5,404.9) |
Property, plant and equipment, net | 7,664.4 | 7,600.6 |
Evergy Metro | Construction work in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 450.2 | 428.7 |
Evergy Metro | Nuclear fuel, net | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 91.2 | 101.9 |
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_8
ORGANIZATION AND BASIS OF PRESENTATION - Other Income And Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Entity Information [Line Items] | ||||
Non-service cost component of net benefit cost | $ (4.6) | $ (16) | $ (9.2) | $ (30.8) |
Corporate-owned life insurance | (6.3) | (4.6) | (10.8) | (10.7) |
Other | (0.5) | (0.4) | (0.9) | (0.8) |
Other expense | (11.4) | (21) | (20.9) | (42.3) |
Evergy Kansas Central | ||||
Entity Information [Line Items] | ||||
Non-service cost component of net benefit cost | 0.6 | (4.2) | 1.1 | (8.2) |
Corporate-owned life insurance | (6.2) | (4.5) | (10.4) | (10.3) |
Other | (0.2) | 0 | (0.2) | (0.1) |
Other expense | (5.8) | (8.7) | (9.5) | (18.6) |
Evergy Metro | ||||
Entity Information [Line Items] | ||||
Non-service cost component of net benefit cost | (3.1) | (9.2) | (6.1) | (17.9) |
Corporate-owned life insurance | (0.1) | (0.1) | (0.4) | (0.4) |
Other | (0.4) | (0.5) | (0.7) | (0.5) |
Other expense | $ (3.6) | $ (9.8) | $ (7.2) | $ (18.8) |
ORGANIZATION AND BASIS OF PRE_9
ORGANIZATION AND BASIS OF PRESENTATION - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Income | ||||||
Net income | $ 210.1 | $ 125.8 | $ 182.2 | $ 145.7 | $ 335.9 | $ 327.9 |
Less: Net income attributable to noncontrolling interests | 3.1 | 3.1 | 6.2 | 6.2 | ||
Net income attributable to Evergy, Inc. | $ 207 | $ 179.1 | $ 329.7 | $ 321.7 | ||
Common Shares Outstanding | ||||||
Weighted average equivalent common shares outstanding - basic (in shares) | 230.3 | 230.1 | 230.2 | 230 | ||
Add: effect of dilutive securities (in shares) | 0.2 | 0.4 | 0.3 | 0.4 | ||
Diluted average number of common shares outstanding (in shares) | 230.5 | 230.5 | 230.5 | 230.4 | ||
Earnings Per Share, Basic | $ 0.90 | $ 0.78 | $ 1.43 | $ 1.40 | ||
Earnings Per Share, Diluted | $ 0.90 | $ 0.78 | $ 1.43 | $ 1.40 |
ORGANIZATION AND BASIS OF PR_10
ORGANIZATION AND BASIS OF PRESENTATION - Antidilutive Securities (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Maximum | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share, amount | 0 | 0 | ||
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 | ||
Convertible note | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share, amount | 0 | 0 | 0 | 0 |
ORGANIZATION AND BASIS OF PR_11
ORGANIZATION AND BASIS OF PRESENTATION - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | ||||
Aug. 08, 2024 | Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | |
Dividends Payable [Line Items] | |||||
Dividends declared on common stock (in dollars per share) | $ 0.6425 | $ 0.6425 | $ 0.6125 | $ 0.6125 | |
Subsequent Event | Evergy Kansas Central | |||||
Dividends Payable [Line Items] | |||||
Dividends payable | $ 135 | ||||
Subsequent Event | Evergy Metro | |||||
Dividends Payable [Line Items] | |||||
Dividends payable | $ 110 | ||||
Common Stock | Subsequent Event | |||||
Dividends Payable [Line Items] | |||||
Dividends declared on common stock (in dollars per share) | $ 0.6425 |
ORGANIZATION AND BASIS OF PR_12
ORGANIZATION AND BASIS OF PRESENTATION - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash paid for (received from): | ||
Interest, net of amount capitalized | $ 265.5 | $ 238.6 |
Income taxes, net of refunds | 8.1 | 6.8 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 3.1 | 9 |
Right-of-use assets obtained in exchange for new finance lease liabilities | 6.9 | 2.9 |
Non-cash investing transactions: | ||
Property, plant and equipment additions | 115.1 | 120.1 |
Evergy Kansas Central | ||
Cash paid for (received from): | ||
Interest, net of amount capitalized | 108.1 | 95.1 |
Income taxes, net of refunds | 7.3 | 52.2 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 1.3 | 4.6 |
Right-of-use assets obtained in exchange for new finance lease liabilities | 4.9 | 2.9 |
Non-cash investing transactions: | ||
Property, plant and equipment additions | 72.5 | 58.6 |
Evergy Metro | ||
Cash paid for (received from): | ||
Interest, net of amount capitalized | 71.7 | 64.4 |
Income taxes, net of refunds | 3.5 | (18.5) |
Right-of-use assets obtained in exchange for new operating lease liabilities | 1.6 | 4.2 |
Right-of-use assets obtained in exchange for new finance lease liabilities | 2 | 0 |
Non-cash investing transactions: | ||
Property, plant and equipment additions | $ 25.9 | $ 41.5 |
REVENUE (Details)
REVENUE (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | $ 1,407.1 | $ 1,309 | $ 2,687.7 | $ 2,555.9 |
Other | 40.4 | 45.2 | 90.8 | 95.1 |
Revenues | 1,447.5 | 1,354.2 | 2,778.5 | 2,651 |
Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 725.3 | 629.1 | 1,414.1 | 1,282 |
Other | 2 | 10.5 | 6.4 | 36.2 |
Revenues | 727.3 | 639.6 | 1,420.5 | 1,318.2 |
Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 436.1 | 450.9 | 811.4 | 833.5 |
Other | 37.9 | 34.4 | 83.5 | 58.2 |
Revenues | 474 | 485.3 | 894.9 | 891.7 |
Residential | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 536.7 | 492.7 | 1,015.7 | 951.3 |
Residential | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 233.7 | 192.3 | 448 | 384.4 |
Residential | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 184.9 | 186 | 340.9 | 344 |
Commercial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 485.8 | 460.7 | 918.5 | 890.7 |
Commercial | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 208.3 | 180.7 | 391.9 | 358.8 |
Commercial | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 185 | 197.3 | 356.2 | 373.2 |
Industrial | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 174.7 | 157.3 | 335.1 | 316.4 |
Industrial | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 114.2 | 98.2 | 220.2 | 206.7 |
Industrial | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 33.5 | 35 | 64.7 | 63.4 |
Other retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 10.2 | 8.9 | 22.1 | 20.2 |
Other retail | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 6 | 2.5 | 12.1 | 6.8 |
Other retail | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 2.3 | 3.4 | 5.5 | 6.1 |
Total electric retail | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 1,207.4 | 1,119.6 | 2,291.4 | 2,178.6 |
Total electric retail | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 562.2 | 473.7 | 1,072.2 | 956.7 |
Total electric retail | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 405.7 | 421.7 | 767.3 | 786.7 |
Wholesale | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 73.3 | 83.1 | 144.3 | 153.5 |
Wholesale | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 47.7 | 58.8 | 115.8 | 126.4 |
Wholesale | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 25.5 | 25.9 | 31.8 | 37.3 |
Transmission | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 122.4 | 100.5 | 237.8 | 206.3 |
Transmission | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 115.4 | 96.6 | 224.3 | 197.2 |
Transmission | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 4.9 | 3.3 | 9.8 | 7.1 |
Industrial steam and other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 4 | 5.8 | 14.2 | 17.5 |
Industrial steam and other | Evergy Kansas Central | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | 0 | 0 | 1.8 | 1.7 |
Industrial steam and other | Evergy Metro | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue from contracts with customers | $ 0 | $ 0 | $ 2.5 | $ 2.4 |
RECEIVABLES (Details)
RECEIVABLES (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables | $ 160.4 | $ 169.4 |
Allowance for credit losses | (18) | (24.2) |
Total | 429.3 | 256.9 |
Evergy Kansas Central | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables | 134.4 | 143.5 |
Allowance for credit losses | (8.8) | (11.6) |
Total | 238 | 171.8 |
Evergy Metro | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables | 36.1 | 35.7 |
Allowance for credit losses | (6.3) | (7.9) |
Total | 123 | 55 |
Customer accounts receivable | Billed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable from subsidiaries | 7.4 | 2.6 |
Customer accounts receivable | Billed | Evergy Kansas Central | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable from subsidiaries | 0 | 0 |
Customer accounts receivable | Billed | Evergy Metro | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable from subsidiaries | 0 | 0 |
Customer accounts receivable | Unbilled | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable from subsidiaries | 279.5 | 109.1 |
Customer accounts receivable | Unbilled | Evergy Kansas Central | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable from subsidiaries | 112.4 | 39.9 |
Customer accounts receivable | Unbilled | Evergy Metro | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable from subsidiaries | $ 93.2 | $ 27.2 |
RECEIVABLES - Narrative (Detail
RECEIVABLES - Narrative (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Evergy Kansas Central | ||
Entity Information [Line Items] | ||
Maximum amount of outstanding principal under receivables agreement | $ 185 | |
Additional Amount of Outstanding Principal Under Receivables Agreement | 65 | |
Evergy Metro | ||
Entity Information [Line Items] | ||
Maximum amount of outstanding principal under receivables agreement | 130 | $ 130 |
Additional Amount of Outstanding Principal Under Receivables Agreement | 70 | |
Evergy Missouri West | ||
Entity Information [Line Items] | ||
Maximum amount of outstanding principal under receivables agreement | 50 | |
Additional Amount of Outstanding Principal Under Receivables Agreement | $ 65 | |
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 | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance January 1 | $ 24.2 | $ 31.4 |
Credit loss expense | 2 | 0.6 |
Write-offs | (14.6) | (15) |
Recoveries of prior write-offs | 6.4 | 5.6 |
Ending balance June 30 | 18 | 22.6 |
Evergy Kansas Central | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance January 1 | 11.6 | 16.9 |
Credit loss expense | 1.4 | (0.2) |
Write-offs | (7.1) | (8) |
Recoveries of prior write-offs | 2.9 | 2.4 |
Ending balance June 30 | 8.8 | 11.1 |
Evergy Metro | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance January 1 | 7.9 | 9.3 |
Credit loss expense | 1.1 | 0.6 |
Write-offs | (5.1) | (4.7) |
Recoveries of prior write-offs | 2.4 | 2.1 |
Ending balance June 30 | $ 6.3 | $ 7.3 |
RECEIVABLES - Other Receivables
RECEIVABLES - Other Receivables (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables, contracts with customers | $ 85.1 | $ 61.5 |
Evergy Kansas Central | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables, contracts with customers | 76.4 | 59.9 |
Evergy Metro | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables, contracts with customers | $ 7.4 | $ 0.8 |
RECEIVABLES - Pledged as Collat
RECEIVABLES - Pledged as Collateral (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable pledged as collateral | $ 329 | $ 342 |
Evergy Kansas Central | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable pledged as collateral | 169 | 166 |
Evergy Metro | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable pledged as collateral | $ 110 | $ 126 |
RATE MATTERS AND REGULATION - N
RATE MATTERS AND REGULATION - Narrative (Details) $ in Millions | 1 Months Ended | 6 Months Ended | |||
May 31, 2024 USD ($) | Feb. 28, 2024 USD ($) | Jun. 30, 2024 USD ($) | Jun. 30, 2023 USD ($) | Dec. 31, 2023 USD ($) | |
Regulatory Proceedings [Line Items] | |||||
Interest rate | 5.06% | ||||
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 | |||||
Regulatory Proceedings [Line Items] | |||||
Regulatory Asset, Amortization Period | 15 years | ||||
Evergy Missouri West | Missouri Public Service Commission | |||||
Regulatory Proceedings [Line Items] | |||||
Public Utilities, Recovery Mechanism Percent for Fuel Cost | 0.95 | ||||
Transmission delivery charge | Evergy Kansas Central | Kansas Corporation Commission | |||||
Regulatory Proceedings [Line Items] | |||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 80.1 | ||||
Transmission delivery charge | Evergy Metro | Kansas Corporation Commission | |||||
Regulatory Proceedings [Line Items] | |||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 7.1 | ||||
2024 Rate case proceedings | Evergy Kansas Central | Federal Energy Regulatory Commission | |||||
Regulatory Proceedings [Line Items] | |||||
Annual transmissions revenue estimated amount of increase (decrease) over prior year | $ 115.8 | ||||
2024 Rate case proceedings | Evergy Missouri West | |||||
Regulatory Proceedings [Line Items] | |||||
Annual revenue rate increase (decrease), requested | $ 104 | ||||
Return on equity, requested | 10.50% | ||||
Rate-making equity ratio, requested | 52% | ||||
FERC 2024 TFR Proceeding | Evergy Metro | Federal Energy Regulatory Commission | |||||
Regulatory Proceedings [Line Items] | |||||
Annual transmissions revenue estimated amount of increase (decrease) over prior year | 23.7 | ||||
FERC 2023 TFR Proceeding | TFR Refund | |||||
Regulatory Proceedings [Line Items] | |||||
Regulatory liabilities | 7.1 | $ 7.1 | |||
FERC 2023 TFR Proceeding | Evergy Kansas Central | TFR Refund | |||||
Regulatory Proceedings [Line Items] | |||||
Regulatory liabilities | $ 7.1 | $ 7.1 | |||
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 | ||||
2021 MPSC Winter Weather Qualified Extraordinary Costs Securitization | Evergy Missouri West | Maximum | |||||
Regulatory Proceedings [Line Items] | |||||
Regulatory Asset, Amortization Period | 17 years |
GOODWILL (Details)
GOODWILL (Details) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 USD ($) reporting_unit | Dec. 31, 2023 USD ($) | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill | $ | $ 2,336.6 | $ 2,336.6 |
Number of reporting units | reporting_unit | 1 |
ASSET RETIREMENT OBLIGATIONS (D
ASSET RETIREMENT OBLIGATIONS (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Dec. 31, 2023 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Beginning balance January 1 | $ 1,203.1 | $ 1,153.2 | ||
Liabilities incurred during the year | $ 72.8 | $ 9.7 | 72.8 | 9.7 |
Revision in timing and/or estimates | 0 | 3.2 | ||
Settlements | (7) | (21.8) | ||
Accretion | 28.4 | 58.8 | ||
Ending balance | 1,297.3 | 1,297.3 | 1,203.1 | |
Less: current portion | (44.9) | (44.9) | (40.3) | |
Asset retirement obligations | 1,252.4 | 1,252.4 | 1,162.8 | |
Evergy Kansas Central | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Beginning balance January 1 | 599.3 | 565.1 | ||
Liabilities incurred during the year | 44.8 | 44.8 | 9.7 | |
Revision in timing and/or estimates | 0 | 1.6 | ||
Settlements | (4.5) | (9.8) | ||
Accretion | 16.4 | 32.7 | ||
Ending balance | 656 | 656 | 599.3 | |
Less: current portion | (25.9) | (25.9) | (22.2) | |
Asset retirement obligations | 630.1 | 630.1 | 577.1 | |
Evergy Metro | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Beginning balance January 1 | 460.4 | 444.2 | ||
Liabilities incurred during the year | 24.1 | 24.1 | 0 | |
Revision in timing and/or estimates | 0 | 1.6 | ||
Settlements | (2.3) | (8.6) | ||
Accretion | 10.3 | 23.2 | ||
Ending balance | 492.5 | 492.5 | 460.4 | |
Less: current portion | (16.6) | (16.6) | (16) | |
Asset retirement obligations | $ 475.9 | $ 475.9 | $ 444.4 |
ASSET RETIREMENT OBLIGATIONS -
ASSET RETIREMENT OBLIGATIONS - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Dec. 31, 2023 | |
Jointly Owned Utility Plant Interests [Line Items] | ||||
Liabilities incurred during the year | $ 72.8 | $ 9.7 | $ 72.8 | $ 9.7 |
Wolf Creek Unit | ||||
Jointly Owned Utility Plant Interests [Line Items] | ||||
Jointly owned utility plant, proportionate ownership share | 94% | 94% | ||
Evergy Kansas Central | ||||
Jointly Owned Utility Plant Interests [Line Items] | ||||
Liabilities incurred during the year | $ 44.8 | $ 44.8 | 9.7 | |
Evergy Metro | ||||
Jointly Owned Utility Plant Interests [Line Items] | ||||
Liabilities incurred during the year | $ 24.1 | $ 24.1 | $ 0 | |
Evergy Metro | Wolf Creek Unit | ||||
Jointly Owned Utility Plant Interests [Line Items] | ||||
Jointly owned utility plant, proportionate ownership share | 47% | 47% |
PENSION PLANS AND POST-RETIRE_3
PENSION PLANS AND POST-RETIREMENT BENEFITS - Narrative (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement and special termination (gain) loss | $ 0 | $ (2,000,000) | $ 0 | $ (17,900,000) |
Contributions by employer | 0 | |||
Contributions to plans remainder of year | 36,800,000 | 36,800,000 | ||
Post-Retirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement and special termination (gain) loss | 0 | 0 | ||
Contributions by employer | 400,000 | |||
Contributions to plans remainder of year | 200,000 | 200,000 | ||
Evergy Kansas Central | Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement and special termination (gain) loss | 0 | 200,000 | 0 | 600,000 |
Contributions by employer | 0 | |||
Contributions to plans remainder of year | 9,800,000 | 9,800,000 | ||
Evergy Kansas Central | Post-Retirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement and special termination (gain) loss | 0 | 0 | ||
Contributions by employer | 200,000 | |||
Contributions to plans remainder of year | 100,000 | 100,000 | ||
Evergy Metro | Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement and special termination (gain) loss | 0 | (2,200,000) | 0 | (18,500,000) |
Contributions by employer | 0 | |||
Contributions to plans remainder of year | 27,000,000 | 27,000,000 | ||
Evergy Metro | Post-Retirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement and special termination (gain) loss | $ 0 | $ 0 | ||
Contributions by employer | 200,000 | |||
Contributions to plans remainder of year | $ 100,000 | $ 100,000 | ||
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 | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax [Abstract] | ||||
Total recognized in OCI or regulatory asset/liability | $ (1.4) | $ (1.3) | $ (2.7) | $ (2.6) |
Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 11.5 | 12 | 23 | 23.2 |
Interest cost | 22.4 | 23 | 44.8 | 45.4 |
Expected return on plan assets | (21.7) | (22.1) | (43.4) | (43.9) |
Prior service cost | 0.5 | 0.5 | 1 | 1 |
Recognized net actuarial (gain) loss | (4.4) | (3.9) | (8.7) | (9.5) |
Settlement and special termination (gain) loss | 0 | (2) | 0 | (17.9) |
Net periodic benefit costs before regulatory adjustment and intercompany allocations | 8.3 | 7.5 | 16.7 | (1.7) |
Regulatory adjustment | 6.9 | 22 | 12.6 | 55.5 |
Intercompany allocations | 0 | 0 | 0 | 0 |
Net periodic benefit costs (income) | 15.2 | 29.5 | 29.3 | 53.8 |
Post-Retirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0.4 | 0.5 | 0.8 | 0.9 |
Interest cost | 2.5 | 2.8 | 5 | 5.6 |
Expected return on plan assets | (2.9) | (3) | (5.7) | (6) |
Prior service cost | 0 | 0 | 0 | 0 |
Recognized net actuarial (gain) loss | (1) | (1.1) | (2) | (2.1) |
Settlement and special termination (gain) loss | 0 | 0 | ||
Net periodic benefit costs before regulatory adjustment and intercompany allocations | (1) | (0.8) | (1.9) | (1.6) |
Regulatory adjustment | 0 | (0.2) | 0 | (0.3) |
Intercompany allocations | 0 | 0 | 0 | 0 |
Net periodic benefit costs (income) | (1) | (1) | (1.9) | (1.9) |
Evergy Kansas Central | Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 4.8 | 5 | 9.5 | 9.6 |
Interest cost | 11.4 | 11.8 | 22.8 | 23.2 |
Expected return on plan assets | (10.8) | (11.2) | (21.5) | (22.2) |
Prior service cost | 0.5 | 0.5 | 1 | 1 |
Recognized net actuarial (gain) loss | 0.2 | 0.1 | 0.4 | (0.7) |
Settlement and special termination (gain) loss | 0 | 0.2 | 0 | 0.6 |
Net periodic benefit costs before regulatory adjustment and intercompany allocations | 6.1 | 6.4 | 12.2 | 11.5 |
Regulatory adjustment | (1.1) | 6.9 | (3.2) | 14.3 |
Intercompany allocations | (0.6) | (0.6) | (1) | (1.1) |
Net periodic benefit costs (income) | 4.4 | 12.7 | 8 | 24.7 |
Evergy Kansas Central | Post-Retirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0.2 | 0.3 | 0.4 | 0.5 |
Interest cost | 1.3 | 1.3 | 2.6 | 2.7 |
Expected return on plan assets | (1.5) | (1.5) | (3) | (3) |
Prior service cost | 0 | 0 | 0 | 0 |
Recognized net actuarial (gain) loss | (0.5) | (0.5) | (1) | (1) |
Settlement and special termination (gain) loss | 0 | 0 | ||
Net periodic benefit costs before regulatory adjustment and intercompany allocations | (0.5) | (0.4) | (1) | (0.8) |
Regulatory adjustment | 0.2 | (0.6) | 0.4 | (1.2) |
Intercompany allocations | 0 | 0 | 0 | 0.1 |
Net periodic benefit costs (income) | (0.3) | (1) | (0.6) | (1.9) |
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 | 0.2 | 0.1 |
Evergy Metro | Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 6.7 | 7 | 13.5 | 13.6 |
Interest cost | 10.8 | 10.9 | 21.5 | 21.7 |
Expected return on plan assets | (11) | (10.9) | (21.9) | (21.7) |
Prior service cost | 0 | 0 | 0 | 0 |
Recognized net actuarial (gain) loss | (4.3) | (3.8) | (8.7) | (8.4) |
Settlement and special termination (gain) loss | 0 | (2.2) | 0 | (18.5) |
Net periodic benefit costs before regulatory adjustment and intercompany allocations | 2.2 | 1 | 4.4 | (13.3) |
Regulatory adjustment | 7.8 | 15.1 | 15.5 | 41 |
Intercompany allocations | (0.6) | (0.3) | (1.1) | (0.5) |
Net periodic benefit costs (income) | 9.4 | 15.8 | 18.8 | 27.2 |
Evergy Metro | Post-Retirement Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0.2 | 0.2 | 0.4 | 0.4 |
Interest cost | 1.3 | 1.4 | 2.5 | 2.7 |
Expected return on plan assets | (1.3) | (1.4) | (2.7) | (2.8) |
Prior service cost | (0.1) | (0.1) | (0.2) | (0.2) |
Recognized net actuarial (gain) loss | (0.5) | (0.5) | (0.9) | (1) |
Settlement and special termination (gain) loss | 0 | 0 | ||
Net periodic benefit costs before regulatory adjustment and intercompany allocations | (0.4) | (0.4) | (0.9) | (0.9) |
Regulatory adjustment | (0.1) | 0.4 | (0.2) | 1 |
Intercompany allocations | 0.2 | 0 | 0.3 | 0 |
Net periodic benefit costs (income) | $ (0.3) | $ 0 | $ (0.8) | $ 0.1 |
SHORT-TERM BORROWINGS AND SHO_3
SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT - Narrative (Details) $ in Millions | Jun. 30, 2024 USD ($) |
Short-term Debt [Line Items] | |
Interest rate | 5.06% |
Cash Borrowings | |
Short-term Debt [Line Items] | |
Line of credit, maximum borrowing capacity | $ 2,500 |
Debt instrument, debt default, threshold | $ 100 |
Debt Instrument, debt to capitalization ratio (no more than) | 65% |
Evergy Kansas Central | Cash Borrowings | |
Short-term Debt [Line Items] | |
Debt instrument, debt default, threshold | $ 100 |
Debt Instrument, debt to capitalization ratio (no more than) | 65% |
Evergy Metro | Cash Borrowings | |
Short-term Debt [Line Items] | |
Debt instrument, debt default, threshold | $ 100 |
Debt Instrument, debt to capitalization ratio (no more than) | 65% |
Evergy Missouri West | Cash Borrowings | |
Short-term Debt [Line Items] | |
Debt instrument, debt default, threshold | $ 100 |
Debt Instrument, debt to capitalization ratio (no more than) | 65% |
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 | Jun. 30, 2024 | Dec. 31, 2023 |
Short-term Debt [Line Items] | ||
Master Credit Facility | $ 2,500 | $ 2,500 |
Available Borrowings | 1,527.6 | 1,546.5 |
Evergy, Inc. | ||
Short-term Debt [Line Items] | ||
Master Credit Facility | 200 | 300 |
Available Borrowings | $ 199.3 | $ 299.3 |
Weighted Average Interest Rate on Short-Term Borrowings | 0% | 0% |
Evergy Kansas Central | ||
Short-term Debt [Line Items] | ||
Master Credit Facility | $ 750 | $ 750 |
Available Borrowings | $ 153.4 | $ 518.6 |
Weighted Average Interest Rate on Short-Term Borrowings | 5.53% | 5.56% |
Evergy Metro | ||
Short-term Debt [Line Items] | ||
Master Credit Facility | $ 850 | $ 750 |
Available Borrowings | $ 584.7 | $ 326.7 |
Weighted Average Interest Rate on Short-Term Borrowings | 5.50% | 5.58% |
Evergy Missouri West | ||
Short-term Debt [Line Items] | ||
Master Credit Facility | $ 700 | $ 700 |
Available Borrowings | $ 590.2 | $ 401.9 |
Weighted Average Interest Rate on Short-Term Borrowings | 5.49% | 5.66% |
Commercial Paper | ||
Short-term Debt [Line Items] | ||
Line of credit | $ 969.7 | $ 951.8 |
Commercial Paper | Evergy, Inc. | ||
Short-term Debt [Line Items] | ||
Line of credit | 0 | 0 |
Commercial Paper | Evergy Kansas Central | ||
Short-term Debt [Line Items] | ||
Line of credit | 595.6 | 230.4 |
Commercial Paper | Evergy Metro | ||
Short-term Debt [Line Items] | ||
Line of credit | 264.3 | 423.3 |
Commercial Paper | Evergy Missouri West | ||
Short-term Debt [Line Items] | ||
Line of credit | 109.8 | 298.1 |
Letters of Credit | ||
Short-term Debt [Line Items] | ||
Letters of Credit | 2.7 | 1.7 |
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 | 1 |
Letters of Credit | Evergy Metro | ||
Short-term Debt [Line Items] | ||
Letters of Credit | 1 | 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 | Jun. 30, 2024 | May 31, 2024 | Apr. 30, 2024 | Feb. 28, 2024 |
Debt Instrument [Line Items] | ||||
Interest rate | 5.06% | |||
Evergy Metro | Secured Debt | MortgageBondsDue2034 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt gross | $ 300 | |||
Interest rate | 5.40% | |||
Evergy Missouri West | SecuritizedBondsDue2040EMW [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt gross | $ 331.1 | |||
Evergy Missouri West | Secured Debt | Mortgage Bonds Due 2034 EMW | ||||
Debt Instrument [Line Items] | ||||
Long-term debt gross | $ 300 | |||
Interest rate | 5.65% | |||
Evergy Missouri West | Securitized Bonds | SecuritizedBondsDue2040EMW [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term debt gross | $ 331.1 | |||
Interest rate | 5.10% |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities - Narrative (Details) $ in Millions | Jun. 30, 2024 USD ($) |
Derivative, Credit Risk Related Contingent Features [Abstract] | |
Derivative, Net Liability Position, Aggregate Fair Value | $ 40 |
Credit Derivatives [Line Items] | |
Credit Derivative, Maximum Exposure, Undiscounted | 36.5 |
Additional Collateral, Aggregate Fair Value | 37.4 |
Collateral Already Posted, Aggregate Fair Value | 2.5 |
Credit Derivative, Maximum Exposure, After Master Netting and Collateral | 26.7 |
Evergy Kansas Central | |
Credit Derivatives [Line Items] | |
Credit Derivative, Maximum Exposure, Undiscounted | 36.5 |
Additional Collateral, Aggregate Fair Value | 37.4 |
Collateral Already Posted, Aggregate Fair Value | 2.5 |
Credit Derivative, Maximum Exposure, After Master Netting and Collateral | $ 26.7 |
Derivative Instruments - Notion
Derivative Instruments - Notional Amounts (Details) - Not Designated as Hedging Instrument [Member] MWh in Millions, MMBTU in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 MWh MMBTU | Dec. 31, 2023 MWh MMBTU | |
Natural gas commodity contract | ||
Price Risk Derivatives [Abstract] | ||
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU | 774.1 | 559.9 |
Power commodity contract | ||
Price Risk Derivatives [Abstract] | ||
Derivative, Nonmonetary Notional Amount, Energy Measure | 108.9 | 52.9 |
Evergy Kansas Central | Natural gas commodity contract | ||
Price Risk Derivatives [Abstract] | ||
Derivative, Nonmonetary Notional Amount, Energy Measure | MMBTU | 774.1 | 558.7 |
Evergy Kansas Central | Power commodity contract | ||
Price Risk Derivatives [Abstract] | ||
Derivative, Nonmonetary Notional Amount, Energy Measure | 63.2 | 32.1 |
Evergy Metro | Power commodity contract | ||
Price Risk Derivatives [Abstract] | ||
Derivative, Nonmonetary Notional Amount, Energy Measure | 34.6 | 15.1 |
Derivative Instruments Offsetti
Derivative Instruments Offsetting Assets (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
FIN 39 Derivative asset netting | ||
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] | Other | Other |
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Other | Other |
Derivative Asset, Current | $ 14 | $ 12.9 |
Derivative Asset, Noncurrent | $ 32.3 | $ 29.8 |
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 | $ 95.5 | $ 133 |
Commodity contract current | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 50.9 | 91.3 |
FIN 39 Derivative asset netting | ||
Gross amounts offset | (36.9) | (78.4) |
Commodity contract noncurrent | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 44.6 | 41.7 |
FIN 39 Derivative asset netting | ||
Gross amounts offset | (12.3) | (11.9) |
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 | 23.7 | 23.2 |
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 | 40.5 | 35.7 |
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 | 27.2 | 68.1 |
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 | 4.1 | 6 |
Evergy Kansas Central | ||
FIN 39 Derivative asset netting | ||
Derivative Asset, Current | 5.5 | 11.1 |
Derivative Asset, Noncurrent | 32.3 | 29.8 |
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 | 85.2 | 128.1 |
Evergy Kansas Central | Commodity contract current | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 40.6 | 86.4 |
FIN 39 Derivative asset netting | ||
Gross amounts offset | (35.1) | (75.3) |
Evergy Kansas Central | Commodity contract noncurrent | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 44.6 | 41.7 |
FIN 39 Derivative asset netting | ||
Gross amounts offset | (12.3) | (11.9) |
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 | 13.4 | 18.3 |
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 | 40.5 | 35.7 |
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 | 27.2 | 68.1 |
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 | 4.1 | 6 |
Evergy Metro | ||
FIN 39 Derivative asset netting | ||
Derivative Asset, Current | 5.6 | 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 | 6.6 | 2.1 |
Evergy Metro | Commodity contract current | ||
Derivative Asset, Subject to Master Netting Arrangement, before Offset of Collateral [Abstract] | ||
Derivative Asset, Fair Value, Gross Asset | 6.6 | 2.1 |
FIN 39 Derivative asset netting | ||
Gross amounts offset | (1) | (2.1) |
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 | $ 6.6 | $ 2.1 |
Derivative Instruments Offset_2
Derivative Instruments Offsetting Liabilities (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
Derivative Liability, Current | $ 7.3 | $ 11.6 |
Derivative Liability, Noncurrent | $ 36 | $ 33.8 |
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 | $ 85.4 | $ 128.8 |
Power commodity contract noncurrent | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 38 | 32.9 |
Commodity contract current | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 42.7 | 89.1 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
FIN 39 Derivative liability netting | (35.4) | (77.5) |
Commodity contract noncurrent | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 42.7 | 39.7 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
FIN 39 Derivative liability netting | (6.7) | (5.9) |
Power commodity contract current | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 13.5 | 21 |
Natural gas commodity contract current | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 29.2 | 68.1 |
Natural gas commodity contract noncurrent | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 4.7 | 6.8 |
Evergy Kansas Central | ||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
Derivative Liability, Current | 7.4 | 6.9 |
Derivative Liability, Noncurrent | 35.9 | 33.8 |
Evergy Kansas Central | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 83.6 | 121 |
Evergy Kansas Central | Power commodity contract noncurrent | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 38 | 32.9 |
Evergy Kansas Central | Commodity contract current | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 40.9 | 81.3 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
FIN 39 Derivative liability netting | (33.5) | (74.4) |
Evergy Kansas Central | Commodity contract noncurrent | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 42.7 | 39.7 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
FIN 39 Derivative liability netting | (6.8) | (5.9) |
Evergy Kansas Central | Power commodity contract current | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 11.7 | 14.3 |
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 | 29.2 | 67 |
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 | 4.7 | 6.8 |
Evergy Metro | ||
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
Derivative Liability, Current | 0 | 3.6 |
Derivative Liability, Noncurrent | 0 | 0 |
Evergy Metro | Not Designated as Hedging Instrument [Member] | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 1 | 5.7 |
Evergy Metro | Commodity contract current | ||
Derivative, Fair Value, Net [Abstract] | ||
Derivative Liability, Fair Value, Gross Liability | 1 | 5.7 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset [Abstract] | ||
FIN 39 Derivative liability netting | (1) | (2.1) |
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 | $ 1 | $ 5.7 |
Derivative Instruments Gain and
Derivative Instruments Gain and Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (3.9) | $ 2.7 | $ (9.9) | $ 17.6 |
Commodity Contract [Member] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (3.9) | 2.7 | (9.9) | 17.6 |
Evergy Kansas Central | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (3.9) | 2.7 | (9.9) | 17.6 |
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 | $ (3.9) | $ 2.7 | $ (9.9) | $ 17.6 |
FAIR VALUE MEASUREMENTS - Long-
FAIR VALUE MEASUREMENTS - Long-Term Debt (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Book Value | Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | $ 12,774.1 | $ 11,853.3 |
Fair Value | Fair Value, Measurements, Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 11,699.3 | 11,044.9 |
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 | 4,581.8 | 4,580.4 |
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 | 4,031.8 | 4,176.6 |
Evergy Metro | Book Value | Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt | 3,222.5 | 2,924.4 |
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 | 2,958.8 | 2,738.8 |
Long-Term debt fair value adjustment | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt gross | $ 84.3 | $ 87 |
FAIR VALUE MEASUREMENTS - Recur
FAIR VALUE MEASUREMENTS - Recurring (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Assets | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other, Other | Other, Other |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other, Other | Other, Other |
Fair Value, Measurements, Recurring | ||
Assets | ||
Total nuclear decommissioning trust | $ 827.7 | $ 766.4 |
Total rabbi trust | 32 | 33.3 |
Derivative Asset | 46.3 | 42.7 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (49.2) | (90.3) |
Total self-insured health plan trust | 16.9 | 15.7 |
Total Assets | 922.9 | 858.1 |
Derivative Liability | 43.3 | 45.4 |
FIN 39 Derivative liability netting | (42.1) | (83.4) |
Total Liabilities | 43.3 | 45.4 |
Fair Value, Measurements, Recurring | Level 1 | ||
Assets | ||
Total nuclear decommissioning trust | 709.7 | 653.7 |
Total rabbi trust | 32 | 33.3 |
Derivative Asset, Fair Value, Gross Asset | 41.1 | 89 |
Total self-insured health plan trust | 8.1 | 8.8 |
Total Assets | 790.9 | 784.8 |
Derivative Liability, Fair Value, Gross Liability | 35.8 | 82 |
Total Liabilities | 35.8 | 82 |
Fair Value, Measurements, Recurring | Level 2 | ||
Assets | ||
Total nuclear decommissioning trust | 49.1 | 47.8 |
Total rabbi trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 42.5 | 33.6 |
Total self-insured health plan trust | 8.8 | 6.9 |
Total Assets | 100.4 | 88.3 |
Derivative Liability, Fair Value, Gross Liability | 46.2 | 36.9 |
Total Liabilities | 46.2 | 36.9 |
Fair Value, Measurements, Recurring | Level 3 | ||
Assets | ||
Total nuclear decommissioning trust | 0 | 0 |
Total rabbi trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 11.9 | 10.4 |
Total self-insured health plan trust | 0 | 0 |
Total Assets | 11.9 | 10.4 |
Derivative Liability, Fair Value, Gross Liability | 3.4 | 9.9 |
Total Liabilities | 3.4 | 9.9 |
Fair Value, Measurements, Recurring | NAV | ||
Assets | ||
Total nuclear decommissioning trust | 68.9 | 64.9 |
Total rabbi trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Total self-insured health plan trust | 0 | 0 |
Total Assets | 68.9 | 64.9 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Total Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | Power commodity contract | ||
Assets | ||
Derivative Asset | 45.5 | 42 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (18.7) | (16.9) |
Derivative Liability | 39.9 | 43.9 |
FIN 39 Derivative liability netting | (11.6) | (10) |
Fair Value, Measurements, Recurring | Power commodity contract | Level 1 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 15.9 | 16.3 |
Derivative Liability, Fair Value, Gross Liability | 8.1 | 9.4 |
Fair Value, Measurements, Recurring | Power commodity contract | Level 2 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 36.4 | 32.2 |
Derivative Liability, Fair Value, Gross Liability | 40 | 34.6 |
Fair Value, Measurements, Recurring | Power commodity contract | Level 3 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 11.9 | 10.4 |
Derivative Liability, Fair Value, Gross Liability | 3.4 | 9.9 |
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 | 0.8 | 0.7 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (30.5) | (73.4) |
Derivative Liability | 3.4 | 1.5 |
FIN 39 Derivative liability netting | (30.5) | (73.4) |
Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 1 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 25.2 | 72.7 |
Derivative Liability, Fair Value, Gross Liability | 27.7 | 72.6 |
Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 2 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 6.1 | 1.4 |
Derivative Liability, Fair Value, Gross Liability | 6.2 | 2.3 |
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, Other | Other, 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 | $ 387.6 | $ 365.1 |
Total rabbi trust | 23.5 | 24.5 |
Derivative Asset | 37.8 | 40.9 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (47.4) | (87.2) |
Total Assets | 448.9 | 430.5 |
Derivative Liability | 43.3 | 40.7 |
FIN 39 Derivative liability netting | (40.3) | (80.3) |
Total Liabilities | 43.3 | 40.7 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Core bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 57.8 | 56.2 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | High-yield bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 30.4 | 29.1 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Emerging markets bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 18.5 | 18.3 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Combination debt/equity/other fund | ||
Assets | ||
Total rabbi trust | 1.7 | 1.7 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Alternative investments fund | ||
Assets | ||
Total nuclear decommissioning trust | 42.9 | 37.9 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Real estate securities fund | ||
Assets | ||
Total nuclear decommissioning trust | 16.3 | 17.2 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Cash equivalents | ||
Assets | ||
Total nuclear decommissioning trust | 0.5 | 0.7 |
Total rabbi trust | 0.2 | 0.2 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Equity funds | ||
Assets | ||
Total rabbi trust | 7 | 7.4 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Fixed income funds | ||
Assets | ||
Total rabbi trust | 14.6 | 15.2 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | ||
Assets | ||
Total nuclear decommissioning trust | 318.7 | 300.2 |
Total rabbi trust | 23.5 | 24.5 |
Derivative Asset, Fair Value, Gross Asset | 41.1 | 89 |
Total Assets | 383.3 | 413.7 |
Derivative Liability, Fair Value, Gross Liability | 35.8 | 82 |
Total Liabilities | 35.8 | 82 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | Core bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 57.8 | 56.2 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | High-yield bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 30.4 | 29.1 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | Emerging markets bond fund | ||
Assets | ||
Total nuclear decommissioning trust | 18.5 | 18.3 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | Combination debt/equity/other fund | ||
Assets | ||
Total rabbi trust | 1.7 | 1.7 |
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 | 0.7 |
Total rabbi trust | 0.2 | 0.2 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | Equity funds | ||
Assets | ||
Total rabbi trust | 7 | 7.4 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Level 1 | Fixed income funds | ||
Assets | ||
Total rabbi trust | 14.6 | 15.2 |
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 | 42.5 | 33.6 |
Total Assets | 42.5 | 33.6 |
Derivative Liability, Fair Value, Gross Liability | 46.2 | 35.8 |
Total Liabilities | 46.2 | 35.8 |
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 | 1.6 | 5.5 |
Total Assets | 1.6 | 5.5 |
Derivative Liability, Fair Value, Gross Liability | 1.6 | 3.2 |
Total Liabilities | 1.6 | 3.2 |
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 | 68.9 | 64.9 |
Total rabbi trust | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Total Assets | 68.9 | 64.9 |
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 | 42.9 | 37.9 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | NAV | Real estate securities fund | ||
Assets | ||
Total nuclear decommissioning trust | 16.3 | 17.2 |
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 | 37 | 40.2 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (16.9) | (13.8) |
Derivative Liability | 39.9 | 40.3 |
FIN 39 Derivative liability netting | (9.8) | (6.9) |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Power commodity contract | Level 1 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 15.9 | 16.3 |
Derivative Liability, Fair Value, Gross Liability | 8.1 | 9.4 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Power commodity contract | Level 2 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 36.4 | 32.2 |
Derivative Liability, Fair Value, Gross Liability | 40 | 34.6 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Power commodity contract | Level 3 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 1.6 | 5.5 |
Derivative Liability, Fair Value, Gross Liability | 1.6 | 3.2 |
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 | 0.8 | 0.7 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (30.5) | (73.4) |
Derivative Liability | 3.4 | 0.4 |
FIN 39 Derivative liability netting | (30.5) | (73.4) |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 1 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 25.2 | 72.7 |
Derivative Liability, Fair Value, Gross Liability | 27.7 | 72.6 |
Evergy Kansas Central | Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 2 | ||
Assets | ||
Derivative Asset, Fair Value, Gross Asset | 6.1 | 1.4 |
Derivative Liability, Fair Value, Gross Liability | 6.2 | 1.2 |
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 | 143.8 | 133.1 |
Evergy Kansas Central | Domestic | Fair Value, Measurements, Recurring | Level 1 | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 134.1 | 123.3 |
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 | 9.7 | 9.8 |
Evergy Kansas Central | International | Fair Value, Measurements, Recurring | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 77.4 | 72.6 |
Evergy Kansas Central | International | Fair Value, Measurements, Recurring | Level 1 | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 77.4 | 72.6 |
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, Other | Other, Other |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other, Other | Other, Other |
Evergy Metro | Fair Value, Measurements, Recurring | ||
Assets | ||
Total nuclear decommissioning trust | $ 440.1 | $ 401.3 |
Derivative Asset | 5.6 | 0 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (1) | (2.1) |
Total self-insured health plan trust | 16.9 | 15.7 |
Total Assets | 462.6 | 417 |
Derivative Liability | 0 | 3.6 |
FIN 39 Derivative liability netting | (1) | (2.1) |
Total Liabilities | 0 | 3.6 |
Evergy Metro | Fair Value, Measurements, Recurring | Equity securities | ||
Assets | ||
Total nuclear decommissioning trust | 340.6 | 302.4 |
Total self-insured health plan trust | 2.2 | 2 |
Evergy Metro | Fair Value, Measurements, Recurring | Cash equivalents | ||
Assets | ||
Total nuclear decommissioning trust | 3.4 | 3.2 |
Evergy Metro | Fair Value, Measurements, Recurring | U.S. Treasury | ||
Assets | ||
Total nuclear decommissioning trust | 47 | 47.9 |
Evergy Metro | Fair Value, Measurements, Recurring | State and local obligations | ||
Assets | ||
Total nuclear decommissioning trust | 2.2 | 3.8 |
Evergy Metro | Fair Value, Measurements, Recurring | Corporate bonds | ||
Assets | ||
Total nuclear decommissioning trust | 46.8 | 43.9 |
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 | 11.4 | 9.4 |
Evergy Metro | Fair Value, Measurements, Recurring | Cash and cash equivalents | ||
Assets | ||
Total self-insured health plan trust | 3.3 | 4.3 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | ||
Assets | ||
Total nuclear decommissioning trust | 391 | 353.5 |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Total self-insured health plan trust | 8.1 | 8.8 |
Total Assets | 399.1 | 362.3 |
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 | 340.6 | 302.4 |
Total self-insured health plan trust | 2.2 | 2 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | Cash equivalents | ||
Assets | ||
Total nuclear decommissioning trust | 3.4 | 3.2 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury | ||
Assets | ||
Total nuclear decommissioning trust | 47 | 47.9 |
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 | 2.6 | 2.5 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 1 | Cash and cash equivalents | ||
Assets | ||
Total self-insured health plan trust | 3.3 | 4.3 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 2 | ||
Assets | ||
Total nuclear decommissioning trust | 49.1 | 47.8 |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Total self-insured health plan trust | 8.8 | 6.9 |
Total Assets | 57.9 | 54.7 |
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 | State and local obligations | ||
Assets | ||
Total nuclear decommissioning trust | 2.2 | 3.8 |
Evergy Metro | Fair Value, Measurements, Recurring | Level 2 | Corporate bonds | ||
Assets | ||
Total nuclear decommissioning trust | 46.8 | 43.9 |
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 | 8.8 | 6.9 |
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 | 6.6 | 2.1 |
Total self-insured health plan trust | 0 | 0 |
Total Assets | 6.6 | 2.1 |
Derivative Liability, Fair Value, Gross Liability | 1 | 5.7 |
Total Liabilities | 1 | 5.7 |
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 | 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 | 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 | 5.6 | 0 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (1) | (2.1) |
Derivative Liability | 0 | 3.6 |
FIN 39 Derivative liability netting | (1) | (2.1) |
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 | 6.6 | 2.1 |
Derivative Liability, Fair Value, Gross Liability | 1 | 5.7 |
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, Other | Other, Other |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other, Other | Other, Other |
Other Evergy | Fair Value, Measurements, Recurring | ||
Assets | ||
Total rabbi trust | $ 8.5 | $ 8.8 |
Derivative Asset | 2.9 | 1.8 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (0.8) | (1) |
Total Assets | 11.4 | 10.6 |
Derivative Liability | 0 | 1.1 |
FIN 39 Derivative liability netting | (0.8) | (1) |
Total Liabilities | 0 | 1.1 |
Other Evergy | Fair Value, Measurements, Recurring | Core bond fund | ||
Assets | ||
Total rabbi trust | 8.5 | 8.8 |
Other Evergy | Fair Value, Measurements, Recurring | Level 1 | ||
Assets | ||
Total rabbi trust | 8.5 | 8.8 |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Total Assets | 8.5 | 8.8 |
Derivative Liability, Fair Value, Gross Liability | 0 | 0 |
Total Liabilities | 0 | 0 |
Other Evergy | Fair Value, Measurements, Recurring | Level 1 | Core bond fund | ||
Assets | ||
Total rabbi trust | 8.5 | 8.8 |
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 | 1.1 |
Total Liabilities | 0 | 1.1 |
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 | 3.7 | 2.8 |
Total Assets | 3.7 | 2.8 |
Derivative Liability, Fair Value, Gross Liability | 0.8 | 1 |
Total Liabilities | 0.8 | 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 | 2.9 | 1.8 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (0.8) | (1) |
Derivative Liability | 0 | 0 |
FIN 39 Derivative liability netting | (0.8) | (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 |
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 | 3.7 | 2.8 |
Derivative Liability, Fair Value, Gross Liability | 0.8 | 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 | 1.1 | |
FIN 39 Derivative liability netting | 0 | |
Other Evergy | Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 1 | ||
Assets | ||
Derivative Liability, Fair Value, Gross Liability | 0 | |
Other Evergy | Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 2 | ||
Assets | ||
Derivative Liability, Fair Value, Gross Liability | 1.1 | |
Other Evergy | Fair Value, Measurements, Recurring | Natural gas commodity contract | Level 3 | ||
Assets | ||
Derivative Liability, Fair Value, Gross Liability | 0 | |
Other Evergy | Fair Value, Measurements, Recurring | Natural gas commodity contract | NAV | ||
Assets | ||
Derivative Liability, Fair Value, Gross Liability | $ 0 |
FAIR VALUE MEASUREMENTS - NAV (
FAIR VALUE MEASUREMENTS - NAV (Details) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 USD ($) fund | Dec. 31, 2023 USD ($) | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Unfunded Commitments | $ 1.4 | $ 1.4 |
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 | $ 1.4 | 1.4 |
NAV, number of funds | fund | 5 | |
Fair Value, Measurements, Recurring | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | $ 827.7 | 766.4 |
Total rabbi trust | 32 | 33.3 |
Total Assets | 922.9 | 858.1 |
Fair Value, Measurements, Recurring | Evergy Kansas Central | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | 387.6 | 365.1 |
Total rabbi trust | 23.5 | 24.5 |
Total Assets | 448.9 | 430.5 |
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 | 42.9 | 37.9 |
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 | 16.3 | 17.2 |
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 | 57.8 | 56.2 |
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 | 1.7 |
Fair Value, Measurements, Recurring | Other Evergy | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total rabbi trust | 8.5 | 8.8 |
Total Assets | 11.4 | 10.6 |
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 | 8.5 | 8.8 |
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 | 143.8 | 133.1 |
NAV | Fair Value, Measurements, Recurring | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
Total nuclear decommissioning trust | 68.9 | 64.9 |
Total rabbi trust | 0 | 0 |
Total Assets | 68.9 | 64.9 |
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 | 68.9 | 64.9 |
Total rabbi trust | 0 | 0 |
Total Assets | 68.9 | 64.9 |
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 | $ 42.9 | 37.9 |
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 | $ 16.3 | 17.2 |
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 | $ 9.7 | $ 9.8 |
FAIR VALUE MEASUREMENTS - Gains
FAIR VALUE MEASUREMENTS - Gains (Losses) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | $ 21.5 | $ 24 | $ 50.9 | $ 57.2 |
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) | 22 | 25.2 | $ 52.3 | 54.7 |
Nuclear decommissioning trust - debt securities | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | (0.4) | (1.3) | (1.7) | 0.8 |
Rabbi trusts - equity securities | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | (0.1) | 0.1 | 0.3 | 1.7 |
Evergy Kansas Central | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | 12 | 8.1 | $ 21 | 23.5 |
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) | 12 | 7.9 | $ 20.5 | 22 |
Evergy Kansas Central | Rabbi trusts - equity securities | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | 0 | 0.2 | 0.5 | 1.5 |
Evergy Metro | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | 9.6 | 16 | $ 30.1 | 33.5 |
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) | 10 | 17.3 | $ 31.8 | 32.7 |
Evergy Metro | Nuclear decommissioning trust - debt securities | ||||
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items] | ||||
Unrealized gains (losses) | $ (0.4) | $ (1.3) | $ (1.7) | $ 0.8 |
RELATED PARTY TRANSACTIONS AN_3
RELATED PARTY TRANSACTIONS AND RELATIONSHIPS (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | $ (374.3) | $ (374.3) | $ (616.9) | ||
Evergy Metro | |||||
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | (148.9) | (148.9) | (272.5) | ||
Evergy Metro | Evergy Missouri West | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | (74.2) | (74.2) | (91.9) | ||
Evergy Metro | Evergy Missouri West | Operating Expenses and Capital Costs Billed | |||||
Related Party Transaction [Line Items] | |||||
Related party transaction | 31.3 | $ 30.4 | 59.5 | $ 57.2 | |
Evergy Metro | Evergy Kansas Central | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | (22.4) | (22.4) | (19.6) | ||
Evergy Metro | Evergy Kansas Central | Operating Expenses and Capital Costs Billed | |||||
Related Party Transaction [Line Items] | |||||
Related party transaction | 32.8 | 31.7 | 65.2 | 60.6 | |
Evergy Metro | Evergy | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | (17.9) | (17.9) | (15.9) | ||
Evergy Metro | Evergy | Income Tax Receivable | |||||
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | (16.5) | (16.5) | (6.8) | ||
Evergy Metro | Related Party [Member] | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | (114.5) | (114.5) | (128.5) | ||
Due to Related Party, Current | 0 | 0 | (1.1) | ||
Evergy Metro | 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 | ||
Evergy Kansas Central | |||||
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | (191.9) | (191.9) | (244.7) | ||
Evergy Kansas Central | Evergy Missouri West | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | (17.2) | (17.2) | (11.3) | ||
Evergy Kansas Central | Evergy Missouri West | Operating Expenses and Capital Costs Billed | |||||
Related Party Transaction [Line Items] | |||||
Related party transaction | 10.4 | 9.9 | 17.5 | 16.1 | |
Evergy Kansas Central | Evergy Metro | |||||
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | (22.4) | (22.4) | (19.6) | ||
Evergy Kansas Central | Evergy Metro | Operating Expenses and Capital Costs Billed | |||||
Related Party Transaction [Line Items] | |||||
Related party transaction | 12.3 | $ 12 | 23.6 | $ 22.9 | |
Evergy Kansas Central | Evergy | |||||
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | (171.3) | (171.3) | (274.5) | ||
Evergy Kansas Central | Evergy | Income Taxes Payable | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | (11.5) | ||||
Due to Related Party, Current | (2.9) | (2.9) | |||
Evergy Kansas Central | Related Party [Member] | |||||
Related Party Transaction [Line Items] | |||||
Due from Related Party, Current | (17.2) | (17.2) | (11.6) | ||
Due to Related Party, Current | (193.7) | (193.7) | (294.4) | ||
Evergy Kansas Central | Related Party [Member] | Evergy Inc Money Pool | |||||
Related Party Transaction [Line Items] | |||||
Due to Related Party, Current | $ (157.8) | $ (157.8) | $ (261.4) | ||
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% |
VARIABLE INTEREST ENTITIES - Na
VARIABLE INTEREST ENTITIES - Narrative (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Feb. 28, 2024 |
Variable Interest Entity [Line Items] | ||
Interest rate | 5.06% | |
Evergy Missouri West | SecuritizedBondsDue2040EMW [Member] | ||
Variable Interest Entity [Line Items] | ||
Long-term debt gross | $ 331.1 | |
Evergy Missouri West | SecuritizedBondsDue2040EMW [Member] | Securitized Bonds | ||
Variable Interest Entity [Line Items] | ||
Long-term debt gross | $ 331.1 | |
Interest rate | 5.10% |
VARIABLE INTEREST ENTITIES - As
VARIABLE INTEREST ENTITIES - Assets and Liabilities Related to VIE (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Assets: | ||
Property, plant and equipment, net | $ 24,301.4 | $ 23,728.7 |
Regulatory assets, includes $15.4 and $— related to variable interest entity, respectively | 252 | 292.1 |
Other | 7.7 | 0 |
Regulatory assets | 1,843.5 | 1,795.3 |
Other | 1.7 | 0 |
Liabilities: | ||
Current maturities of long-term debt | 819.5 | 800 |
Accrued interest | 117.1 | 134.2 |
Long-term debt, net | 11,954.6 | 11,053.3 |
Variable Interest Entities | ||
Assets: | ||
Property, plant and equipment, net | 130 | 133.6 |
Regulatory assets, includes $15.4 and $— related to variable interest entity, respectively | 15.4 | 0 |
Other | 6.9 | |
Regulatory assets | 302.6 | 0 |
Other | 1.7 | |
Liabilities: | ||
Current maturities of long-term debt | 19.5 | 0 |
Accrued interest | 6 | 0 |
Long-term debt, net | 303.6 | 0 |
Evergy Kansas Central | ||
Assets: | ||
Property, plant and equipment, net | 12,441.7 | 12,121.9 |
Regulatory assets, includes $15.4 and $— related to variable interest entity, respectively | 113.3 | 127.7 |
Regulatory assets | 543.8 | 505.2 |
Liabilities: | ||
Accrued interest | 53.8 | 79.7 |
Long-term debt, net | 4,581.8 | 4,580.4 |
Evergy Kansas Central | Variable Interest Entities | ||
Assets: | ||
Property, plant and equipment, net | $ 130 | $ 133.6 |
TAXES - Income Tax Expense (Det
TAXES - Income Tax Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Current Federal Tax Expense (Benefit) | $ 0.7 | $ 5.6 | $ 10.9 | $ 10.6 |
Current State and Local Tax Expense (Benefit) | 9.2 | 7.2 | 17.3 | 11.9 |
Current Income Tax Expense (Benefit), Total | 9.9 | 12.8 | 28.2 | 22.5 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Deferred Federal Income Tax Expense (Benefit) | 6.7 | 5.5 | 4.2 | 13.2 |
Deferred State and Local Income Tax Expense (Benefit) | (7.4) | (5.6) | (14.1) | (8.9) |
Deferred Income Tax Expense (Benefit), Total | (0.7) | (0.1) | (9.9) | 4.3 |
Investment Tax Credits | ||||
Investment tax credit amortization | (1.8) | (1.9) | (3.6) | (3.6) |
Income Tax Expense (Benefit), Total | $ 7.4 | $ 10.8 | $ 14.7 | $ 23.2 |
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, Other Reconciling Items, Percent | (1.20%) | (1.30%) | (1.20%) | (1.30%) |
State income taxes | 0.50% | 0% | 0.50% | 0.20% |
Flow through depreciation for plant-related differences | (8.70%) | (7.10%) | (8.60%) | (7.40%) |
Federal tax credits | (6.80%) | (6.30%) | (6.70%) | (5.00%) |
Non-controlling interest | (0.30%) | (0.30%) | (0.30%) | (0.30%) |
AFUDC equity | (0.40%) | (0.60%) | (0.30%) | (0.60%) |
Amortization of federal investment tax credits | (0.60%) | (0.60%) | (0.60%) | (0.60%) |
Valuation allowance | 0% | 0.40% | 0% | 0.20% |
Officer compensation limitation | (0.30%) | 0.20% | 0.10% | 0.20% |
Other | 0.20% | 0.20% | 0.30% | 0.20% |
Effective Income Tax Rate Reconciliation, Percent, Total | 3.40% | 5.60% | 4.20% | 6.60% |
Evergy Kansas Central | ||||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Current Federal Tax Expense (Benefit) | $ 10.2 | $ 3.4 | $ 14.5 | $ 21.5 |
Current State and Local Tax Expense (Benefit) | 4.2 | 2.9 | 7.3 | 4.9 |
Current Income Tax Expense (Benefit), Total | 14.4 | 6.3 | 21.8 | 26.4 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Deferred Federal Income Tax Expense (Benefit) | (7.7) | (0.7) | (10.2) | (10.7) |
Deferred State and Local Income Tax Expense (Benefit) | (2.9) | (1.6) | (4.7) | (2.3) |
Deferred Income Tax Expense (Benefit), Total | (10.6) | (2.3) | (14.9) | (13) |
Investment Tax Credits | ||||
Investment tax credit amortization | (0.9) | (0.9) | (1.9) | (1.9) |
Income Tax Expense (Benefit), Total | $ 2.9 | $ 3.1 | $ 5 | $ 11.5 |
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, Other Reconciling Items, Percent | (1.90%) | (2.30%) | (1.90%) | (2.40%) |
State income taxes | 0.60% | 0.70% | 0.60% | 0.70% |
Flow through depreciation for plant-related differences | (5.80%) | (2.60%) | (5.60%) | (3.40%) |
Federal tax credits | (10.50%) | (12.30%) | (10.70%) | (9.00%) |
Non-controlling interest | (0.40%) | (0.50%) | (0.50%) | (0.50%) |
AFUDC equity | (0.50%) | (0.40%) | (0.50%) | (0.50%) |
Amortization of federal investment tax credits | (0.40%) | (0.40%) | (0.40%) | (0.40%) |
Stock compensation | 0% | 0.10% | 0% | (0.10%) |
Other | 0.20% | 0.10% | 0.10% | 0.20% |
Effective Income Tax Rate Reconciliation, Percent, Total | 2.30% | 3.40% | 2.10% | 5.60% |
Evergy Metro | ||||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Current Federal Tax Expense (Benefit) | $ 3.9 | $ 3.3 | $ 5.9 | $ (1.8) |
Current State and Local Tax Expense (Benefit) | 3.9 | 3.6 | 7.2 | 5.2 |
Current Income Tax Expense (Benefit), Total | 7.8 | 6.9 | 13.1 | 3.4 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Deferred Federal Income Tax Expense (Benefit) | 6 | 8.1 | 10.8 | 20.5 |
Deferred State and Local Income Tax Expense (Benefit) | (3.3) | (2.4) | (6.2) | (3.6) |
Deferred Income Tax Expense (Benefit), Total | 2.7 | 5.7 | 4.6 | 16.9 |
Investment Tax Credits | ||||
Investment tax credit amortization | (0.8) | (0.9) | (1.6) | (1.7) |
Income Tax Expense (Benefit), Total | $ 9.7 | $ 11.7 | $ 16.1 | $ 18.6 |
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, Other Reconciling Items, Percent | (0.10%) | (0.10%) | (0.10%) | (0.10%) |
State income taxes | 0.60% | 1% | 0.70% | 0.90% |
Flow through depreciation for plant-related differences | (7.80%) | (8.40%) | (7.80%) | (8.30%) |
Federal tax credits | (0.70%) | (0.20%) | (0.70%) | (0.20%) |
AFUDC equity | (0.20%) | (0.90%) | (0.10%) | (0.90%) |
Amortization of federal investment tax credits | (0.80%) | (0.80%) | (0.80%) | (0.80%) |
Stock compensation | 0% | 0% | 0.60% | 0.40% |
Officer compensation limitation | (0.40%) | 0.60% | 0.30% | 0.60% |
Other | 0% | (0.10%) | 0% | (0.20%) |
Effective Income Tax Rate Reconciliation, Percent, Total | 11.60% | 12.10% | 13.10% | 12.40% |