Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | May. 02, 2016 | |
Document Information [Line Items] | ||
Entity Registrant Name | Great Plains Energy Inc | |
Entity Central Index Key | 1,143,068 | |
Current Fiscal Year End Date | --12-31 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 154,716,914 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Current Assets | ||
Cash and cash equivalents | $ 7.8 | $ 11.3 |
Funds on deposit | 3.8 | 2.1 |
Receivables, net | 108.1 | 147.7 |
Accounts receivable pledged as collateral | 175 | 175 |
Fuel inventories, at average cost | 112.1 | 118.4 |
Materials and supplies, at average cost | 157.8 | 155.7 |
Deferred refueling outage costs | 14.3 | 19.2 |
Refundable income taxes | 1.1 | 3.8 |
Prepaid expenses and other assets | 31.1 | 31 |
Total | 611.1 | 664.2 |
Utility Plant, at Original Cost | ||
Electric | 13,260 | 13,189.9 |
Less - accumulated depreciation | 5,003.7 | 4,943.7 |
Net utility plant in service | 8,256.3 | 8,246.2 |
Construction work in progress | 377 | 347.9 |
Nuclear fuel, net of amortization of $200.8 and $192.5 | 61.3 | 68.3 |
Total | 8,694.6 | 8,662.4 |
Investments and Other Assets | ||
Nuclear decommissioning trust fund | 204.8 | 200.7 |
Regulatory assets | 992.9 | 979.1 |
Goodwill | 169 | 169 |
Other | 70.7 | 63.2 |
Total | 1,437.4 | 1,412 |
Total | 10,743.1 | 10,738.6 |
Current Liabilities | ||
Notes payable | 15 | 10 |
Collateralized note payable | 175 | 175 |
Commercial paper | 288.3 | 224 |
Current maturities of long-term debt | 1.1 | 1.1 |
Accounts payable | 220.9 | 352.9 |
Accrued taxes | 66.7 | 31.6 |
Accrued interest | 59.1 | 44.7 |
Accrued compensation and benefits | 41 | 41.4 |
Pension and post-retirement liability | 3.4 | 3.4 |
Other | 28.8 | 31.6 |
Total | 899.3 | 915.7 |
Deferred Credits and Other Liabilities | ||
Deferred income taxes | 1,171.7 | 1,158.8 |
Deferred tax credits | 124.7 | 125.1 |
Asset retirement obligations | 276.4 | 275.9 |
Pension and post-retirement liability | 465.2 | 455.2 |
Regulatory liabilities | 294.2 | 284.4 |
Other | 77.3 | 82.9 |
Total | 2,409.5 | 2,382.3 |
Common shareholders' equity | ||
Common stock - 250,000,000 shares authorized without par value 154,841,256 and 154,504,900 shares issued, stated value | 2,655.6 | 2,646.7 |
Retained earnings | 1,009.6 | 1,024.4 |
Treasury stock - 130,310 and 101,229 shares, at cost | (3.8) | (2.6) |
Accumulated other comprehensive loss | (10.5) | (12) |
Total | 3,650.9 | 3,656.5 |
Cumulative preferred stock $100 par value | ||
Preferred Stock, Value, Issued | 39 | 39 |
Long-term debt (Note 9) | 3,744.4 | 3,745.1 |
Total | $ 7,434.3 | $ 7,440.6 |
Commitments and Contingencies (Note 10) | ||
Total | $ 10,743.1 | $ 10,738.6 |
Preferred Stock 3 Point 80 [Member] | ||
Cumulative preferred stock $100 par value | ||
Preferred Stock, Value, Issued | 10 | 10 |
Preferred Stock 4 Point 50 [Member] | ||
Cumulative preferred stock $100 par value | ||
Preferred Stock, Value, Issued | 10 | 10 |
Preferred Stock 4 Point 20 [Member] | ||
Cumulative preferred stock $100 par value | ||
Preferred Stock, Value, Issued | 7 | 7 |
Preferred Stock 4 Point 35 [Member] | ||
Cumulative preferred stock $100 par value | ||
Preferred Stock, Value, Issued | 12 | 12 |
Kansas City Power and Light Company [Member] | ||
Current Assets | ||
Cash and cash equivalents | 2.5 | 2.3 |
Funds on deposit | 1.4 | 0.5 |
Receivables, net | 101.2 | 129.2 |
Related party receivables | 57.4 | 65.8 |
Accounts receivable pledged as collateral | 110 | 110 |
Fuel inventories, at average cost | 78.6 | 83.5 |
Materials and supplies, at average cost | 116.6 | 114.6 |
Deferred refueling outage costs | 14.3 | 19.2 |
Refundable income taxes | 0.9 | 79 |
Prepaid expenses and other assets | 28 | 27.1 |
Total | 510.9 | 631.2 |
Utility Plant, at Original Cost | ||
Electric | 9,686.2 | 9,640.4 |
Less - accumulated depreciation | 3,772.1 | 3,722.6 |
Net utility plant in service | 5,914.1 | 5,917.8 |
Construction work in progress | 264.7 | 246.6 |
Nuclear fuel, net of amortization of $200.8 and $192.5 | 61.3 | 68.3 |
Total | 6,240.1 | 6,232.7 |
Investments and Other Assets | ||
Nuclear decommissioning trust fund | 204.8 | 200.7 |
Regulatory assets | 742.8 | 732.4 |
Other | 19.3 | 17.6 |
Total | 966.9 | 950.7 |
Total | 7,717.9 | 7,814.6 |
Current Liabilities | ||
Collateralized note payable | 110 | 110 |
Commercial paper | 85.8 | 180.3 |
Accounts payable | 175.9 | 258.8 |
Accrued taxes | 49.5 | 25.6 |
Accrued interest | 42.3 | 32.4 |
Accrued compensation and benefits | 41 | 41.4 |
Pension and post-retirement liability | 2 | 2 |
Other | 11.7 | 12.6 |
Total | 518.2 | 663.1 |
Deferred Credits and Other Liabilities | ||
Deferred income taxes | 1,143.8 | 1,132.6 |
Deferred tax credits | 123.6 | 123.8 |
Asset retirement obligations | 239.5 | 239.3 |
Pension and post-retirement liability | 443.5 | 433.4 |
Regulatory liabilities | 165.8 | 164.6 |
Other | 61 | 61.6 |
Total | 2,177.2 | 2,155.3 |
Common shareholders' equity | ||
Common stock - 250,000,000 shares authorized without par value 154,841,256 and 154,504,900 shares issued, stated value | 1,563.1 | 1,563.1 |
Retained earnings | 904.2 | 879.6 |
Accumulated other comprehensive loss | (8.2) | (9.6) |
Total | 2,459.1 | 2,433.1 |
Cumulative preferred stock $100 par value | ||
Long-term debt (Note 9) | 2,563.4 | 2,563.1 |
Total | $ 5,022.5 | $ 4,996.2 |
Commitments and Contingencies (Note 10) | ||
Total | $ 7,717.9 | $ 7,814.6 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Utility Plant, at Original Cost | ||
Nuclear fuel, amortization | $ 200.8 | $ 192.5 |
Common shareholder's equity | ||
Common stock - shares authorized (in shares) | 250,000,000 | 250,000,000 |
Common stock-shares issued (in shares) | 154,841,256 | 154,504,900 |
Treasury stock- shares (in shares) | 130,310 | 101,229 |
Preferred Stock 3 Point 80 [Member] | ||
Cumulative preferred stock | ||
Cumulative preferred stock par value (in dollars per share) | $ 100 | $ 100 |
Cumulative preferred stock, Shares issued (in share) | 100,000 | 100,000 |
Preferred Stock, Dividend Rate, Percentage | 3.80% | 3.80% |
Preferred Stock 4 Point 50 [Member] | ||
Cumulative preferred stock | ||
Cumulative preferred stock par value (in dollars per share) | $ 100 | $ 100 |
Cumulative preferred stock, Shares issued (in share) | 100,000 | 100,000 |
Preferred Stock, Dividend Rate, Percentage | 4.50% | 4.50% |
Preferred Stock 4 Point 20 [Member] | ||
Cumulative preferred stock | ||
Cumulative preferred stock par value (in dollars per share) | $ 100 | $ 100 |
Cumulative preferred stock, Shares issued (in share) | 70,000 | 70,000 |
Preferred Stock, Dividend Rate, Percentage | 4.20% | 4.20% |
Preferred Stock 4 Point 35 [Member] | ||
Cumulative preferred stock | ||
Cumulative preferred stock par value (in dollars per share) | $ 100 | $ 100 |
Cumulative preferred stock, Shares issued (in share) | 120,000 | 120,000 |
Preferred Stock, Dividend Rate, Percentage | 4.35% | 4.35% |
Kansas City Power and Light Company [Member] | ||
Utility Plant, at Original Cost | ||
Nuclear fuel, amortization | $ 200.8 | $ 192.5 |
Common shareholder's equity | ||
Common stock - shares authorized (in shares) | 1,000 | 1,000 |
Common stock-shares issued (in shares) | 1 | 1 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Operating Revenues | ||
Electric revenues | $ 572.1 | $ 549.1 |
Operating Expenses | ||
Fuel | 90.6 | 107.6 |
Purchased power | 45 | 45.4 |
Transmission | 23.5 | 20.9 |
Utility operating and maintenance expenses | 179.4 | 171.5 |
Depreciation and amortization | 85.2 | 79.8 |
General taxes | 56.3 | 52.7 |
Other | 2.2 | 1.1 |
Total | 482.2 | 479 |
Operating income | 89.9 | 70.1 |
Non-operating income | 2.1 | 6 |
Non-operating expenses | (3.4) | (3.7) |
Interest charges | (51.2) | (47.3) |
Income before income tax expense and income from equity investments | 37.4 | 25.1 |
Income tax expense | (11.7) | (6.5) |
Income from equity investments, net of income taxes | 0.7 | 0.3 |
Net income | 26.4 | 18.9 |
Preferred stock dividend requirements | 0.4 | 0.4 |
Earnings available for common shareholders | $ 26 | $ 18.5 |
Average number of basic common shares outstanding | 154.4 | 154 |
Average number of diluted common shares outstanding | 155 | 154.4 |
Basic and diluted earnings per common share | $ 0.17 | $ 0.12 |
Cash dividends per common share | $ 0.2625 | $ 0.245 |
Comprehensive Income | ||
Net income | $ 26.4 | $ 18.9 |
Other comprehensive income | ||
Reclassification to expenses, net of tax | 1.4 | 1.4 |
Derivative hedging activity, net of tax | 1.4 | 1.4 |
Amortization of net losses included in net periodic benefit costs, net of tax | 0.1 | 0.1 |
Change in unrecognized pension expense, net of tax | 0.1 | 0.1 |
Total other comprehensive income | 1.5 | 1.5 |
Comprehensive income | 27.9 | 20.4 |
Kansas City Power and Light Company [Member] | ||
Operating Revenues | ||
Electric revenues | 400.9 | 370.4 |
Operating Expenses | ||
Fuel | 61.5 | 74.8 |
Purchased power | 24.8 | 21.9 |
Transmission | 15.4 | 13.4 |
Utility operating and maintenance expenses | 123.7 | 118.3 |
Depreciation and amortization | 61.1 | 56.5 |
General taxes | 43.6 | 40.2 |
Other | 0.2 | 0 |
Total | 330.3 | 325.1 |
Operating income | 70.6 | 45.3 |
Non-operating income | 1.3 | 4.4 |
Non-operating expenses | (1.3) | (1.7) |
Interest charges | (35.3) | (31.5) |
Income before income tax expense and income from equity investments | 35.3 | 16.5 |
Income tax expense | (10.7) | (3.3) |
Net income | 24.6 | 13.2 |
Comprehensive Income | ||
Net income | 24.6 | 13.2 |
Other comprehensive income | ||
Reclassification to expenses, net of tax | 1.4 | 1.4 |
Derivative hedging activity, net of tax | 1.4 | 1.4 |
Total other comprehensive income | 1.4 | 1.4 |
Comprehensive income | $ 26 | $ 14.6 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash Flows from Operating Activities | ||
Net income | $ 26.4 | $ 18.9 |
Adjustments to reconcile income to net cash from operating activities: | ||
Depreciation and amortization | 85.2 | 79.8 |
Amortization of: | ||
Nuclear fuel | 8.3 | 4.9 |
Other | 12.8 | 12.4 |
Deferred income taxes, net | 12 | 6.5 |
Investment tax credit amortization | (0.4) | (0.4) |
Income from equity investments, net of income taxes | (0.7) | (0.3) |
Other operating activities (Note 2) | (16.3) | (22.4) |
Net cash from operating activities | 127.3 | 99.4 |
Cash Flows from Investing Activities | ||
Utility capital expenditures | (133.6) | (217.9) |
Allowance for borrowed funds used during construction | (1.4) | (2.7) |
Purchases of nuclear decommissioning trust investments | (10.5) | (11.8) |
Proceeds from nuclear decommissioning trust investments | 9.7 | 11 |
Other investing activities | (17.9) | (9.1) |
Net cash from investing activities | (153.7) | (230.5) |
Cash Flows from Financing Activities | ||
Issuance of common stock | 0.7 | 0.8 |
Issuance fees | (0.2) | 0 |
Repayment of long-term debt | (1.1) | (15.1) |
Net change in short-term borrowings | 69.3 | 183.7 |
Dividends paid | (40.9) | (38.2) |
Purchase of treasury stock | (4.9) | (1.4) |
Other financing activities | 0 | 0.5 |
Net cash from financing activities | 22.9 | 130.3 |
Net Change in Cash and Cash Equivalents | (3.5) | (0.8) |
Cash and Cash Equivalents at Beginning of Year | 11.3 | 13 |
Cash and Cash Equivalents at End of Period | 7.8 | 12.2 |
Kansas City Power and Light Company [Member] | ||
Cash Flows from Operating Activities | ||
Net income | 24.6 | 13.2 |
Adjustments to reconcile income to net cash from operating activities: | ||
Depreciation and amortization | 61.1 | 56.5 |
Amortization of: | ||
Nuclear fuel | 8.3 | 4.9 |
Other | 8.4 | 7.4 |
Deferred income taxes, net | 10.4 | 10.3 |
Investment tax credit amortization | (0.2) | (0.2) |
Other operating activities (Note 2) | 75.8 | 60.2 |
Net cash from operating activities | 188.4 | 152.3 |
Cash Flows from Investing Activities | ||
Utility capital expenditures | (83.2) | (181.8) |
Allowance for borrowed funds used during construction | (0.9) | (2.1) |
Purchases of nuclear decommissioning trust investments | (10.5) | (11.8) |
Proceeds from nuclear decommissioning trust investments | 9.7 | 11 |
Other investing activities | (8.6) | (6.6) |
Net cash from investing activities | (93.5) | (191.3) |
Cash Flows from Financing Activities | ||
Issuance fees | (0.2) | 0 |
Repayment of long-term debt | 0 | (14) |
Net change in short-term borrowings | (94.5) | 65.7 |
Net money pool borrowings | 0 | (12.6) |
Net cash from financing activities | (94.7) | 39.1 |
Net Change in Cash and Cash Equivalents | 0.2 | 0.1 |
Cash and Cash Equivalents at Beginning of Year | 2.3 | 2.7 |
Cash and Cash Equivalents at End of Period | $ 2.5 | $ 2.8 |
Consolidated Statements of Comm
Consolidated Statements of Common Shareholders' Equity - USD ($) $ in Millions | Total | Kansas City Power and Light Company [Member] | Common Stock [Member] | Common Stock [Member]Kansas City Power and Light Company [Member] | Retained Earnings [Member] | Retained Earnings [Member]Kansas City Power and Light Company [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Other Comprehensive Income (Loss) [Member]Kansas City Power and Light Company [Member] |
Beginning balance at Dec. 31, 2014 | $ 2,639.3 | $ 1,563.1 | $ 967.8 | $ 726.8 | $ (2.3) | $ (18.7) | $ (14.9) | ||
Beginning balance (in shares) at Dec. 31, 2014 | 154,254,037 | 1 | |||||||
Beginning balance, treasury stock (in shares) at Dec. 31, 2014 | (91,281) | ||||||||
Issuance of common stock | $ 3.2 | ||||||||
Issuance of common stock (in shares) | 122,420 | ||||||||
Equity compensation expense, net of forfeitures | $ 0.3 | ||||||||
Unearned Compensation [Abstract] | |||||||||
Issuance of restricted common stock | (2) | ||||||||
Compensation expense recognized | 0.5 | ||||||||
Other | 0 | ||||||||
Net income | $ 18.9 | $ 13.2 | 18.9 | 13.2 | |||||
Dividends: | |||||||||
Common stock ($0.2625 and $0.245 per share) | (37.8) | ||||||||
Preferred stock - at required rates | (0.4) | ||||||||
Performance shares | (0.2) | ||||||||
Treasury shares acquired | $ (1.3) | ||||||||
Treasury shares acquired (in shares) | (50,899) | ||||||||
Treasury shares reissued | $ 1.2 | ||||||||
Treasury shares reissued (in shares) | 47,085 | ||||||||
Derivative hedging activity, net of tax | 1.4 | 1.4 | 1.4 | 1.4 | |||||
Change in unrecognized pension expense, net of tax | 0.1 | 0.1 | |||||||
Ending balance at Mar. 31, 2015 | 3,570 | 2,289.6 | $ 2,641.3 | $ 1,563.1 | 948.3 | 740 | $ (2.4) | (17.2) | (13.5) |
Ending balance, treasury stock (in shares) at Mar. 31, 2015 | (95,095) | ||||||||
Ending balance (in shares) at Mar. 31, 2015 | 154,376,457 | 1 | |||||||
Beginning balance at Dec. 31, 2015 | $ 3,656.5 | 2,433.1 | $ 2,646.7 | $ 1,563.1 | 1,024.4 | 879.6 | $ (2.6) | (12) | (9.6) |
Beginning balance (in shares) at Dec. 31, 2015 | 154,504,900 | 1 | |||||||
Beginning balance, treasury stock (in shares) at Dec. 31, 2015 | (101,229) | (101,229) | |||||||
Issuance of common stock | $ 10 | ||||||||
Issuance of common stock (in shares) | 336,356 | ||||||||
Equity compensation expense, net of forfeitures | $ 0.8 | ||||||||
Unearned Compensation [Abstract] | |||||||||
Issuance of restricted common stock | (2.8) | ||||||||
Compensation expense recognized | 0.6 | ||||||||
Other | 0.3 | ||||||||
Net income | $ 26.4 | 24.6 | 26.4 | 24.6 | |||||
Dividends: | |||||||||
Common stock ($0.2625 and $0.245 per share) | (40.5) | ||||||||
Preferred stock - at required rates | (0.4) | ||||||||
Performance shares | (0.3) | ||||||||
Treasury shares acquired | $ (4) | ||||||||
Treasury shares acquired (in shares) | (134,484) | ||||||||
Treasury shares reissued | $ 2.8 | ||||||||
Treasury shares reissued (in shares) | 105,403 | ||||||||
Derivative hedging activity, net of tax | 1.4 | 1.4 | 1.4 | 1.4 | |||||
Change in unrecognized pension expense, net of tax | 0.1 | 0.1 | |||||||
Ending balance at Mar. 31, 2016 | $ 3,650.9 | $ 2,459.1 | $ 2,655.6 | $ 1,563.1 | $ 1,009.6 | $ 904.2 | $ (3.8) | $ (10.5) | $ (8.2) |
Ending balance, treasury stock (in shares) at Mar. 31, 2016 | (130,310) | (130,310) | |||||||
Ending balance (in shares) at Mar. 31, 2016 | 154,841,256 | 1 |
Consolidated Statements of Com7
Consolidated Statements of Common Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Stock Transactions, Parenthetical Disclosures [Abstract] | ||
Common Stock, Dividends, Per Share, Declared | $ 0.2625 | $ 0.245 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies [Text Block] | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization Great Plains Energy, a Missouri corporation incorporated in 2001, is a public utility holding company and does not own or operate any significant assets other than the stock of its subsidiaries. Great Plains Energy's wholly owned direct subsidiaries with significant operations are as follows: • KCP&L is an integrated, regulated electric utility that provides electricity to customers primarily in the states of Missouri and Kansas. KCP&L has one active wholly owned subsidiary, Kansas City Power & Light Receivables Company (KCP&L Receivables Company). • KCP&L Greater Missouri Operations Company (GMO) is an integrated, regulated electric utility that provides electricity to customers in the state of Missouri. GMO also provides regulated steam service to certain customers in the St. Joseph, Missouri area. GMO has two active wholly owned subsidiaries, GMO Receivables Company and MPS Merchant Services, Inc. (MPS Merchant). MPS Merchant has certain long-term natural gas contracts remaining from its former non-regulated trading operations. Great Plains Energy also wholly owns GPE Transmission Holding Company, LLC (GPETHC). GPETHC owns 13.5% of Transource Energy, LLC (Transource) with the remaining 86.5% owned by AEP Transmission Holding Company, LLC (AEPTHC), a subsidiary of American Electric Power Company, Inc. GPETHC accounts for its investment in Transource under the equity method. Transource is focused on the development of competitive electric transmission projects. Each of Great Plains Energy's and KCP&L's consolidated financial statements includes the accounts of their subsidiaries. Intercompany transactions have been eliminated. Great Plains Energy's sole reportable business segment is electric utility. See Note 17 for additional information. Basic and Diluted Earnings per Common Share Calculation To determine basic earnings per common share (EPS), preferred stock dividend requirements are deducted from net income before dividing by the average number of common shares outstanding. The effect of dilutive securities, calculated using the treasury stock method, assumes the issuance of common shares applicable to performance shares and restricted stock. The following table reconciles Great Plains Energy's basic and diluted EPS. Three Months Ended March 31 2016 2015 Income (millions, except per share amounts) Net income $ 26.4 $ 18.9 Less: preferred stock dividend requirements 0.4 0.4 Earnings available for common shareholders $ 26.0 $ 18.5 Common Shares Outstanding Average number of common shares outstanding 154.4 154.0 Add: effect of dilutive securities 0.6 0.4 Diluted average number of common shares outstanding 155.0 154.4 Basic and diluted EPS $ 0.17 $ 0.12 Anti-dilutive shares excluded from the computation of diluted EPS are detailed in the following table. Three Months Ended March 31 2016 2015 Performance shares 372,093 — Dividends Declared In May 2016 , Great Plains Energy's Board of Directors (Board) declared a quarterly dividend of $0.2625 per share on Great Plains Energy's common stock. The common dividend is payable June 20, 2016 , to shareholders of record as of May 27, 2016 . The Board also declared regular dividends on Great Plains Energy's preferred stock, payable September 1, 2016 , to shareholders of record as of August 11, 2016 . In May 2016 , KCP&L's Board of Directors declared a cash dividend payable to Great Plains Energy of $22 million payable on June 17, 2016 . New Accounting Standards In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in Generally Accepted Accounting Principles (GAAP) when it becomes effective. In August 2015, the FASB issued ASU No. 2015-14, deferring the effective date of ASU No. 2014-09 one year, from January 1, 2017, to January 1, 2018. The Companies plan to adopt ASU No. 2014-09 on January 1, 2018. The standard permits the use of either the retrospective or cumulative effect transition method. The Companies are evaluating the effect that ASU No. 2014-09 will have on their consolidated financial statements and related disclosures and have not yet selected a transition method nor have they determined the effect of the standard on their ongoing financial reporting. In February 2016, the FASB issued ASU No. 2016-02, Leases , which requires an entity that is a lessee to record a right-of-use asset and a lease liability for lease payments on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new guidance is effective for interim and annual periods beginning after December 15, 2018, and is required to be applied using a modified retrospective approach . The Companies are evaluating the effect that ASU No. 2016-02 will have on their consolidated financial statements and related disclosures and have not yet determined the effect of the standard on their ongoing financial reporting. In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation , which is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification on the statement of cash flows and forfeitures. The new guidance is effective for interim and annual periods beginning after December 15, 2016, and early adoption is permitted. This guidance will be applied either prospectively, retrospectively or using a modified retrospective transition method, depending on the area covered in this update. The Companies are evaluating the effect that ASU No. 2016-09 will have on their consolidated financial statements and related disclosures and have not yet selected a transition method nor have they determined the effect of the standard on their ongoing financial reporting. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 3 Months Ended |
Mar. 31, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Cash Flow, Supplemental Disclosures [Text Block] | 2. SUPPLEMENTAL CASH FLOW INFORMATION Great Plains Energy Other Operating Activities Three Months Ended March 31 2016 2015 Cash flows affected by changes in: (millions) Receivables $ 39.7 $ 17.8 Fuel inventories 6.3 (12.1 ) Materials and supplies (2.1 ) 1.0 Accounts payable (120.4 ) (88.0 ) Accrued taxes 38.0 34.5 Accrued interest 14.4 16.6 Deferred refueling outage costs 4.9 (15.6 ) Pension and post-retirement benefit obligations 23.7 16.0 Allowance for equity funds used during construction (0.9 ) (3.3 ) Fuel recovery mechanisms (4.6 ) 8.7 Other (15.3 ) 2.0 Total other operating activities $ (16.3 ) $ (22.4 ) Cash paid during the period: Interest $ 33.3 $ 27.4 Income taxes $ 0.1 $ 0.1 Non-cash investing activities: Liabilities accrued for capital expenditures $ 24.7 $ 38.7 KCP&L Other Operating Activities Three Months Ended March 31 2016 2015 Cash flows affected by changes in: (millions) Receivables $ 36.5 $ 29.7 Fuel inventories 4.9 (11.6 ) Materials and supplies (2.0 ) 0.9 Accounts payable (75.5 ) (43.3 ) Accrued taxes 102.2 73.3 Accrued interest 9.9 12.1 Deferred refueling outage costs 4.9 (15.6 ) Pension and post-retirement benefit obligations 23.9 16.2 Allowance for equity funds used during construction (0.6 ) (2.7 ) Fuel recovery mechanisms (14.3 ) (2.2 ) Other (14.1 ) 3.4 Total other operating activities $ 75.8 $ 60.2 Cash paid during the period: Interest $ 22.2 $ 16.4 Non-cash investing activities: Liabilities accrued for capital expenditures $ 16.5 $ 34.8 |
Receivables
Receivables | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
Loans Notes Trade And Other Receivables Disclosure And Transfers And Servicing Of Financial Asset [Text Block] | 3. RECEIVABLES Great Plains Energy's and KCP&L's receivables are detailed in the following table. March 31 December 31 2016 2015 Great Plains Energy (millions) Customer accounts receivable - billed $ 2.1 $ 3.4 Customer accounts receivable - unbilled 45.2 71.6 Allowance for doubtful accounts - customer accounts receivable (4.5 ) (3.8 ) Other receivables 65.3 76.5 Total $ 108.1 $ 147.7 KCP&L Customer accounts receivable - billed $ 1.2 $ 2.8 Customer accounts receivable - unbilled 41.4 58.8 Allowance for doubtful accounts - customer accounts receivable (2.0 ) (1.8 ) Other receivables 60.6 69.4 Total $ 101.2 $ 129.2 Great Plains Energy's and KCP&L's other receivables at March 31, 2016 , and December 31, 2015 , consisted primarily of receivables from partners in jointly owned electric utility plants and wholesale sales receivables. Sale of Accounts Receivable – KCP&L and GMO KCP&L and GMO sell all of their retail electric accounts receivable to their wholly owned subsidiaries, KCP&L Receivables Company and GMO Receivables Company, respectively, which in turn sell an undivided percentage ownership interest in the accounts receivable to Victory Receivables Corporation, an independent outside investor. Each of KCP&L Receivables Company's and GMO Receivables Company's sale of the undivided percentage ownership interest in accounts receivable to Victory Receivables Corporation is accounted for as a secured borrowing with accounts receivable pledged as collateral and a corresponding short-term collateralized note payable recognized on the balance sheets. At March 31, 2016 , and December 31, 2015 , Great Plains Energy's accounts receivable pledged as collateral and the corresponding short-term collateralized note payable were $175.0 million . At March 31, 2016 , and December 31, 2015 , KCP&L's accounts receivable pledged as collateral and the corresponding short-term collateralized note payable were $110.0 million . KCP&L's agreement expires in September 2016 and allows for $110 million in aggregate outstanding principal amount at any time. GMO's agreement expires in September 2016 and allows for $65 million in aggregate outstanding principal from mid-November through mid-June and then increases to $80 million from mid-June through mid-November. |
Nuclear Plant
Nuclear Plant | 3 Months Ended |
Mar. 31, 2016 | |
Nuclear Plant [Abstract] | |
Nuclear Plant | 4. NUCLEAR PLANT KCP&L owns 47% of Wolf Creek Generating Station (Wolf Creek), its only nuclear generating unit. Wolf Creek is located in Coffey County, Kansas, just northeast of Burlington, Kansas. Wolf Creek's operating license expires in 2045. Wolf Creek is regulated by the Nuclear Regulatory Commission (NRC), with respect to licensing, operations and safety-related requirements. Spent Nuclear Fuel and High-Level Radioactive Waste Under the Nuclear Waste Policy Act of 1982, the Department of Energy (DOE) is responsible for the permanent disposal of spent nuclear fuel. Wolf Creek historically paid the DOE a quarterly fee of one-tenth of a cent for each kWh of net nuclear generation delivered and sold for the future disposal of spent nuclear fuel. In May 2014, this fee was set to zero. In 2010, the DOE filed a motion with the NRC to withdraw its then pending application to the NRC to construct a national repository for the disposal of spent nuclear fuel and high-level radioactive waste at Yucca Mountain, Nevada. An NRC board denied the DOE's motion to withdraw its application. In 2011, the NRC reexamined its decision and ordered the licensing board, consistent with budgetary limitations, to close out its work on the DOE's application. In August 2013, a federal court of appeals ruled that the NRC must resume its review of the DOE's application. Wolf Creek is currently evaluating alternatives for expanding its existing on-site spent nuclear fuel storage to provide additional capacity prior to 2025. Management cannot predict when, or if, an off-site storage site or alternative disposal site will be available to receive Wolf Creek's spent nuclear fuel and will continue to monitor this activity. Low-Level Radioactive Waste Wolf Creek disposes of most of its low-level radioactive waste (Class A waste) at an existing third-party repository in Utah. Management expects that the site located in Utah will remain available to Wolf Creek for disposal of its Class A waste. Wolf Creek has contracted with a waste processor that will process, take title and dispose in another state most of the remainder of Wolf Creek's low-level radioactive waste (Classes B and C waste, which is higher in radioactivity but much lower in volume). Should on-site waste storage be needed in the future, Wolf Creek has current storage capacity on site for about four years' generation of Classes B and C waste and believes it will be able to expand that storage capacity as needed if it becomes necessary to do so. Nuclear Decommissioning Trust Fund The following table summarizes the change in Great Plains Energy's and KCP&L's nuclear decommissioning trust fund. March 31 December 31 Decommissioning Trust (millions) Beginning balance January 1 $ 200.7 $ 199.0 Contributions 0.8 3.3 Earned income, net of fees 1.1 3.4 Net realized gains — 0.7 Net unrealized gains (losses) 2.2 (5.7 ) Ending balance $ 204.8 $ 200.7 The nuclear decommissioning trust is reported at fair value on the balance sheets and is invested in assets as detailed in the following table. March 31, 2016 December 31, 2015 Cost Basis Unrealized Gains Unrealized Losses Fair Value Cost Basis Unrealized Gains Unrealized Losses Fair Value (millions) Equity securities $ 90.9 $ 48.8 $ (2.6 ) $ 137.1 $ 89.6 $ 47.9 $ (2.1 ) $ 135.4 Debt securities 61.4 4.0 (0.1 ) 65.3 59.6 2.6 (0.5 ) 61.7 Other 2.4 — — 2.4 3.6 — — 3.6 Total $ 154.7 $ 52.8 $ (2.7 ) $ 204.8 $ 152.8 $ 50.5 $ (2.6 ) $ 200.7 The weighted average maturity of debt securities held by the trust at March 31, 2016 , was approximately 7 years. The costs of securities sold are determined on the basis of specific identification. The following table summarizes the realized gains and losses from the sale of securities in the nuclear decommissioning trust fund. Three Months Ended March 31 2016 2015 (millions) Realized gains $ 0.7 $ 1.4 Realized losses (0.7 ) (0.6 ) |
Regulatory Matters
Regulatory Matters | 3 Months Ended |
Mar. 31, 2016 | |
Regulated Operations [Abstract] | |
Regulatory Matters | 5 . REGULATORY MATTERS GMO Missouri 2016 Rate Case Proceedings In February 2016, GMO filed an application with the Public Service Commission of the State of Missouri (MPSC) to request an increase to its retail revenues of $59.3 million , with a return on equity of 9.9% and a rate-making equity ratio of 54.83% . The request included recovery of increased transmission and property tax expenses as well as costs for infrastructure and system improvements made to be able to provide reliable electric service. Testimony from MPSC staff and other parties regarding the case is expected in July 2016, with an evidentiary hearing to occur in September 2016. New rates are expected to be effective in December 2016. KCP&L Kansas 2015 Rate Case Proceedings In September 2015, the State Corporation Commission of the State of Kansas (KCC) issued an order for KCP&L authorizing an increase in annual revenues of $48.7 million , a return on equity of 9.3% and a rate-making equity ratio of 50.48% . KCP&L filed a Petition for Judicial Review with the Court of Appeals of Kansas in November 2015 regarding various issues, which was denied in March 2016. The rates established by the order took effect on October 1, 2015. KCP&L Missouri 2015 Rate Case Proceedings In September 2015, the MPSC issued an order for KCP&L authorizing an increase in annual revenues of $89.7 million , a return on equity of 9.5% and a rate-making equity ratio of approximately 50.09% . The MPSC also approved KCP&L’s request to implement a Fuel Adjustment Clause (FAC). The rates established by the order took effect on September 29, 2015, and are effective unless and until modified by the MPSC or stayed by a court. Notices of Appeal of the September 2015 MPSC order were filed with the Missouri Court of Appeals, Western District, by KCP&L in October 2015 and by Midwest Energy Consumers' Group in November 2015 regarding various issues. |
Pension Plans and Other Employe
Pension Plans and Other Employee Benefits | 3 Months Ended |
Mar. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension Plans and Other Employee Benefits | 6. PENSION PLANS AND OTHER EMPLOYEE BENEFITS Great Plains Energy maintains defined benefit pension plans for the majority of KCP&L's and GMO's active and inactive employees, including officers, and its 47% ownership share of Wolf Creek Nuclear Operating Corporation (WCNOC) defined benefit plans. For the majority of employees, pension benefits under these plans reflect the employees' compensation, years of service and age at retirement; however, for union employees hired after October 1, 2013, the benefits are derived from a cash balance account formula. Effective in 2014, the non-union plan was closed to future employees. Great Plains Energy also provides certain post-retirement health care and life insurance benefits for substantially all retired employees of KCP&L, GMO and its 47% ownership share of WCNOC. KCP&L and GMO record pension and post-retirement expense in accordance with rate orders from the MPSC and KCC 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. The following table provides Great Plains Energy's components of net periodic benefit costs prior to the effects of capitalization and sharing with joint owners of power plants. Pension Benefits Other Benefits Three Months Ended March 31 2016 2015 2016 2015 Components of net periodic benefit costs (millions) Service cost $ 10.5 $ 11.3 $ 0.7 $ 0.8 Interest cost 13.2 12.6 1.5 1.7 Expected return on plan assets (12.3 ) (12.9 ) (0.8 ) (0.7 ) Prior service cost 0.2 0.2 0.3 0.8 Recognized net actuarial (gain)/loss 13.0 12.8 (0.4 ) — Net periodic benefit costs before regulatory adjustment 24.6 24.0 1.3 2.6 Regulatory adjustment (1.0 ) (3.2 ) 1.5 1.4 Net periodic benefit costs $ 23.6 $ 20.8 $ 2.8 $ 4.0 For the three months ended March 31, 2016 , Great Plains Energy contributed $1.6 million to the pension plans and expects to contribute an additional $68.1 million in 2016 to satisfy the minimum Employee Retirement Income Security Act of 1974, as amended (ERISA) funding requirements and the MPSC and KCC rate orders, the majority of which is expected to be paid by KCP&L. Also in 2016 , Great Plains Energy expects to make contributions of $5.1 million to the post-retirement benefit plans, the majority of which is expected to be paid by KCP&L. |
Equity Compensation
Equity Compensation | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Compensation | 7. EQUITY COMPENSATION Great Plains Energy's Long-Term Incentive Plan is an equity compensation plan approved by Great Plains Energy's shareholders. The Long-Term Incentive Plan permits the grant of restricted stock, restricted stock units, bonus shares, stock options, stock appreciation rights, limited stock appreciation rights, director shares, director deferred share units and performance shares to directors, officers and other employees of Great Plains Energy and KCP&L. Forfeiture rates are based on historical forfeitures and future expectations and are reevaluated annually. The following table summarizes Great Plains Energy's and KCP&L's equity compensation expense and the associated income tax benefit. Three Months Ended March 31 2016 2015 Great Plains Energy (millions) Equity compensation expense $ 3.7 $ (0.2 ) Income tax benefit 1.5 — KCP&L Equity compensation expense $ 2.5 $ (0.1 ) Income tax benefit 1.0 — Performance Shares Performance share activity for the three months ended March 31, 2016, is summarized in the following table. Performance adjustment represents the number of shares of common stock related to performance shares ultimately issued that can vary from the number of performance shares initially granted depending on Great Plains Energy's performance over a stated period of time. Performance Shares Grant Date Fair Value* Beginning balance January 1, 2016 609,010 $ 25.60 Granted 225,204 31.41 Earned (306,953 ) 24.22 Performance adjustment 99,553 24.16 Ending balance March 31, 2016 626,814 28.13 * weighted-average At March 31, 2016 , the remaining weighted-average contractual term was 1.9 years. The weighted-average grant-date fair value of shares granted was $31.41 and $24.06 for the three months ended March 31, 2016 , and 2015 , respectively. At March 31, 2016 , there was $11.7 million of total unrecognized compensation expense, net of forfeiture rates, related to performance shares granted under the Long-Term Incentive Plan, which will be recognized over the remaining weighted-average contractual term. The total fair value of performance shares earned and paid was $7.4 million and $0.5 million for the three months ended March 31, 2016 , and 2015 , respectively. The fair value of performance share awards is estimated using the market value of the Company's stock at the valuation date and a Monte Carlo simulation technique that incorporates assumptions for inputs of expected volatilities, dividend yield and risk-free rates. Expected volatility is based on daily stock price change during a historical period commensurate with the remaining term of the performance period of the grant. The risk-free rate is based upon the rate at the time of the evaluation for zero-coupon government bonds with a maturity consistent with the remaining performance period of the grant. The dividend yield is based on the most recent dividends paid and the actual closing stock price on the valuation date. For shares granted in 2016 , inputs for expected volatility, dividend yield and risk-free rates ranged were 18% , 3.61% and 0.94% , respectively. Restricted Stock Restricted stock activity for the three months ended March 31, 2016, is summarized in the following table. Nonvested Restricted Stock Grant Date Fair Value* Beginning balance January 1, 2016 231,508 $ 24.78 Granted and issued 95,218 29.42 Vested (69,219 ) 22.59 Ending balance March 31, 2016 257,507 27.09 * weighted-average At March 31, 2016 , the remaining weighted-average contractual term was 1.8 years. The weighted-average grant-date fair value of shares granted was $29.42 and $26.18 for the three months ended March 31, 2016 , and 2015 , respectively. At March 31, 2016 , there was $4.5 million of total unrecognized compensation expense, net of forfeiture rates, related to nonvested restricted stock granted under the Long-Term Incentive Plan, which will be recognized over the remaining weighted-average contractual term. Total fair value of shares vested was $1.6 million and $1.9 million for the three months ended March 31, 2016 , and 2015 , respectively. |
Short-term Borrowings and Short
Short-term Borrowings and Short-term Bank Lines of Credit | 3 Months Ended |
Mar. 31, 2016 | |
Short-term Borrowings and Short-term Bank Lines of Credit [Abstract] | |
Short-term Borrowings and Short-term Bank Lines of Credit [Text Block] | 8 . SHORT-TERM BORROWINGS AND SHORT-TERM BANK LINES OF CREDIT Great Plains Energy's $200 Million Revolving Credit Facility Great Plains Energy's $200 million revolving credit facility with a group of banks expires in October 2019 . The facility's terms permit transfers of unused commitments between this facility and the KCP&L and GMO facilities discussed below, with the total amount of the facility not exceeding $400 million at any one time. A default by Great Plains Energy or any of its significant subsidiaries on other indebtedness totaling more than $50.0 million is a default under the facility. Under the terms of this facility, Great Plains Energy is required to maintain a consolidated indebtedness to consolidated capitalization ratio, as defined in the facility, not greater than 0.65 to 1.00 at all times. At March 31, 2016 , Great Plains Energy was in compliance with this covenant. At March 31, 2016 , Great Plains Energy had $15.0 million of outstanding cash borrowings at a weighted-average interest rate of 1.97% and had issued $0.2 million in letters of credit under the credit facility. At December 31, 2015 , Great Plains Energy had $10.0 million of outstanding cash borrowings at a weighted-average interest rate of 1.94% and had issued $0.2 million letters of credit under the credit facility. KCP&L's $600 Million Revolving Credit Facility and Commercial Paper KCP&L's $600 million revolving credit facility with a group of banks provides support for its issuance of commercial paper and other general corporate purposes and expires in October 2019 . Great Plains Energy and KCP&L may transfer up to $200 million of unused commitments between Great Plains Energy's and KCP&L's facilities. A default by KCP&L on other indebtedness totaling more than $50.0 million is a default under the facility. Under the terms of this facility, KCP&L is required to maintain a consolidated indebtedness to consolidated capitalization ratio, as defined in the facility, not greater than 0.65 to 1.00 at all times. At March 31, 2016 , KCP&L was in compliance with this covenant. At March 31, 2016 , KCP&L had $85.8 million of commercial paper outstanding at a weighted-average interest rate of 0.71% , had issued letters of credit totaling $2.8 million and had no outstanding cash borrowings under the credit facility. At December 31, 2015 , KCP&L had $180.3 million of commercial paper outstanding at a weighted-average interest rate of 0.70% , had issued letters of credit totaling $2.7 million and had no outstanding cash borrowings under the credit facility. GMO's $450 Million Revolving Credit Facility and Commercial Paper GMO's $450 million revolving credit facility with a group of banks provides support for its issuance of commercial paper and other general corporate purposes and expires in October 2019 . Great Plains Energy and GMO may transfer up to $200 million of unused commitments between Great Plains Energy's and GMO's facilities. A default by GMO or any of its significant subsidiaries on other indebtedness totaling more than $50.0 million is a default under the facility. Under the terms of this facility, GMO is required to maintain a consolidated indebtedness to consolidated capitalization ratio, as defined in the facility, not greater than 0.65 to 1.00 at all times. At March 31, 2016 , GMO was in compliance with this covenant. At March 31, 2016 , GMO had $202.5 million of commercial paper outstanding at a weighted-average interest rate of 0.71% , had issued letters of credit totaling $2.2 million and had no outstanding cash borrowings under the credit facility. At December 31, 2015 , GMO had $43.7 million commercial paper outstanding at a weighted-average interest rate of 0.65% , had issued letters of credit totaling $2.5 million and had no outstanding cash borrowings under the credit facility. |
Long-Term Debt
Long-Term Debt | 3 Months Ended |
Mar. 31, 2016 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | 9. LONG-TERM DEBT Great Plains Energy's and KCP&L's long-term debt is detailed in the following table. March 31 December 31 Year Due 2016 2015 KCP&L (millions) General Mortgage Bonds 2.47% EIRR bonds (a) 2017-2035 $ 110.5 $ 110.5 7.15% Series 2009A (8.59% rate) (b) 2019 400.0 400.0 Senior Notes 5.85% Series (5.72% rate) (b) 2017 250.0 250.0 6.375% Series (7.49% rate) (b) 2018 350.0 350.0 3.15% Series 2023 300.0 300.0 3.65% Series 2025 350.0 350.0 6.05% Series (5.78% rate) (b) 2035 250.0 250.0 5.30% Series 2041 400.0 400.0 EIRR Bonds 0.17% Series 2007A and 2007B (c) 2035 146.5 146.5 2.875% Series 2008 2038 23.4 23.4 Unamortized discount and debt issuance costs (17.0 ) (17.3 ) Total KCP&L excluding current maturities (d) 2,563.4 2,563.1 Other Great Plains Energy GMO First Mortgage Bonds 9.44% Series 2017-2021 5.7 6.8 GMO Senior Notes 8.27% Series 2021 80.9 80.9 3.49% Series A 2025 125.0 125.0 4.06% Series B 2033 75.0 75.0 4.74% Series C 2043 150.0 150.0 GMO Medium Term Notes 7.33% Series 2023 3.0 3.0 7.17% Series 2023 7.0 7.0 Great Plains Energy Senior Notes 6.875% Series (7.33% rate) (b) 2017 100.0 100.0 4.85% Series 2021 350.0 350.0 5.292% Series 2022 287.5 287.5 Current maturities (1.1 ) (1.1 ) Unamortized discount and premium, net and debt issuance costs (2.0 ) (2.1 ) Total Great Plains Energy excluding current maturities (d) $ 3,744.4 $ 3,745.1 (a) Weighted-average interest rates at March 31, 2016 (b) Rate after amortizing gains/losses recognized in other comprehensive income (OCI) on settlements of interest rate hedging instruments (c) Variable rate (d) At March 31, 2016, and December 31, 2015, does not include $50.0 million and $21.9 million of secured Series 2005 Environmental Improvement Revenue Refunding (EIRR) bonds because the bonds were repurchased in September 2015 and are held by KCP&L |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 10 . COMMITMENTS AND CONTINGENCIES Environmental Matters Great Plains Energy and KCP&L are subject to extensive federal, state and local environmental laws, regulations and permit requirements relating to air and water quality, waste management and disposal, natural resources and health and safety. In addition to imposing continuing compliance obligations and remediation costs, these laws, regulations and permits authorize the imposition of substantial penalties for noncompliance, including fines, injunctive relief and other sanctions. The cost of complying with current and future environmental requirements is expected to be material to Great Plains Energy and KCP&L. Failure to comply with environmental requirements or to timely recover environmental costs through rates could have a material effect on Great Plains Energy's and KCP&L's results of operations, financial position and cash flows. Great Plains Energy's and KCP&L's current estimates of capital expenditures (exclusive of Allowance for Funds Used During Construction (AFUDC) and property taxes) over the next five years to comply with environmental regulations are in the following table. The total cost of compliance with any existing, proposed or future laws and regulations may be significantly different from these cost estimates provided. 2016 2017 2018 2019 2020 (millions) Great Plains Energy $ 99.6 $ 45.5 $ 20.6 $ 98.9 $ 151.9 KCP&L 83.8 30.1 14.4 87.3 130.0 The Companies expect to seek recovery of the costs associated with environmental requirements through rate increases; however, there can be no assurance that such rate increases would be granted. The Companies may be subject to materially adverse rate treatment in response to competitive, economic, political, legislative or regulatory factors and/or public perception of the Companies' environmental reputation. The following discussion groups environmental and certain associated matters into the broad categories of air and climate change, water, solid waste and remediation. Clean Air Act and Climate Change Overview The Clean Air Act Amendments of 1990 (Clean Air Act) and associated regulations enacted by the Environmental Protection Agency (EPA) form a comprehensive program to preserve and enhance air quality. States are required to establish regulations and programs to address all requirements of the Clean Air Act and have the flexibility to enact more stringent requirements. All of Great Plains Energy's and KCP&L's generating facilities, and certain of their other facilities, are subject to the Clean Air Act. Mercury and Air Toxics Standards (MATS) Rule In December 2011, the EPA finalized the MATS Rule that will reduce emissions of toxic air pollutants, also known as hazardous air pollutants, from new and existing coal- and oil-fired electric utility generating units with a capacity of greater than 25 MWs. The rule establishes numerical emission limits for mercury, particulate matter (a surrogate for non-mercury metals) and hydrochloric acid (a surrogate for acid gases). The rule establishes work practices, instead of numerical emission limits, for organic air toxics, including dioxin/furan. KCP&L’s and GMO’s affected coal-fired units currently comply with the rule. Estimated capital costs to comply with the MATS Rule are included in the estimated capital expenditures table above. Industrial Boiler Rule In December 2012, the EPA issued a final rule that would reduce emissions of hazardous air pollutants from new and existing industrial boilers. The final rule establishes numeric emission limits for mercury, particulate matter (as a surrogate for non-mercury metals), hydrogen chloride (as a surrogate for acid gases) and carbon monoxide (as a surrogate for non-dioxin organic hazardous air pollutants). The final rule establishes emission limits for KCP&L's and GMO's existing units that produce steam other than for the generation of electricity. The final rule does not apply to KCP&L's and GMO's electricity generating boilers, but would apply to most of GMO's Lake Road boilers, which also serve steam customers, and to auxiliary boilers at other generating facilities. KCP&L’s and GMO’s affected units currently comply or will be compliant in January 2017. Estimated capital costs to comply with the Industrial Boiler Rule are included in the estimated capital expenditures table above. Climate Change The Companies' current generation capacity is primarily coal-fired and is estimated to produce about one ton of carbon dioxide (CO 2 ) per MWh, or approximately 21 million tons and 15 million tons per year for Great Plains Energy and KCP&L, respectively. The Companies are subject to existing greenhouse gas reporting regulations and certain greenhouse gas requirements. Federal or state legislation concerning the reduction of emissions of greenhouse gases, including CO 2 , could be enacted in the future. At the international level, in December 2015 the Paris Agreement was adopted by nearly 200 countries and will be legally binding 30 days after at least 55 countries representing at least 55% of global greenhouse gas emissions have joined it through ratification. The Paris Agreement did not result in any new, legally binding obligations on the United States to meet a particular greenhouse gas emissions target, but establishes a framework for international cooperation on climate change. Other international agreements legally binding on the United States may be reached in the future. Greenhouse gas legislation has the potential of having significant financial and operational impacts on Great Plains Energy and KCP&L; however, the ultimate financial and operational consequences to Great Plains Energy and KCP&L cannot be determined until such legislation is passed. In the absence of new Congressional mandates, the EPA is proceeding with the regulation of greenhouse gases under the existing Clean Air Act. In August 2015, the EPA finalized CO 2 emission standards for new, modified and reconstructed affected fossil-fuel-fired electric utility generating units. The standards would not apply to Great Plains Energy's and KCP&L's existing units unless the units were modified or reconstructed in the future. In August 2015, the EPA finalized its Clean Power Plan which sets CO 2 emission performance rates for existing affected fossil fuel-fired electric generating units. Specifically, the EPA translated those performance rates into a state goal measured in mass and rate based on each state’s generation mix. The states have the ability to develop their own plans for affected units to achieve either the performance rates directly or the state goals, with guidelines for the development, submittal and implementation of those plans. Nationwide, by 2030, the EPA projects the Clean Power Plan would achieve CO 2 emission reductions from the power sector of approximately 32% from CO 2 emission levels in 2005. The EPA has finalized an interim CO 2 goal rate reduction in Kansas and Missouri (average of 2022-2029) of 34% and 26% , respectively, and 2030 targets in Kansas and Missouri of 44% and 37% , respectively. The baseline for these reductions is 2012 CO 2 emissions adjusted by the EPA. The EPA has also finalized mass based CO 2 reduction goals. States are required to submit plans to implement the Clean Power Plan. An EPA plan with either a rate-based or mass-based trading program has yet to be finalized and can be enforced in states that fail to submit approved plans. In February 2016, the U.S. Supreme Court granted a stay of the Clean Power Plan putting the rule on hold pending review in the United States Court of Appeals for the District of Columbia Circuit and any subsequent review by the U.S. Supreme Court if such review is sought. Compliance with the Clean Power Plan has the potential of having significant financial and operational impacts on Great Plains Energy and KCP&L; however, the ultimate financial and operational consequences to Great Plains Energy and KCP&L cannot be determined until the outcome of pending litigation is known and/or the state plans to implement the Clean Power Plan are known. The Companies are subject to existing renewable energy standards in Missouri. Management believes that national renewable energy standards are also possible. The timing, provisions and impact of such possible future requirements, including the cost to obtain and install new equipment to achieve compliance, cannot be reasonably estimated at this time. Clean Water Act The Clean Water Act and associated regulations enacted by the EPA form a comprehensive program to restore and preserve water quality. Like the Clean Air Act, states are required to establish regulations and programs to address all requirements of the Clean Water Act, and have the flexibility to enact more stringent requirements. All of Great Plains Energy's and KCP&L's generating facilities, and certain of their other facilities, are subject to the Clean Water Act. In May 2014, the EPA finalized regulations pursuant to Section 316(b) of the Clean Water Act regarding cooling water intake structures pursuant to a court approved settlement. KCP&L generation facilities with cooling water intake structures are subject to the best technology available standards based on studies completed to comply with such standards. The rule provides flexibility to work with the states to develop the best technology available to minimize aquatic species impacted by being pinned against intake screens (impingement) or drawn into cooling water systems (entrainment). Estimated costs to comply with Section 316(b) of the Clean Water Act are included in the estimated capital expenditures table above. KCP&L holds a permit from the Missouri Department of Natural Resources (MDNR) covering water discharge from its Hawthorn Station. The permit authorizes KCP&L to, among other things, withdraw water from the Missouri River for cooling purposes and return the heated water to the Missouri River. KCP&L has applied for a renewal of this permit and the EPA has submitted an interim objection letter regarding the allowable amount of heat that can be contained in the returned water. Until this matter is resolved, KCP&L continues to operate under its current permit. Future water permit renewals at KCP&L's Iatan Station and at GMO's Sibley and Lake Road Stations could also be impacted by the allowable amount of heat that can be contained in the returned water. Great Plains Energy and KCP&L cannot predict the outcome of these matters; however, while less significant outcomes are possible, these matters may require a reduction in generation, installation of cooling towers or other technology to cool the water, or both, any of which could have a significant impact on Great Plains Energy's and KCP&L's results of operations, financial position and cash flows. In September 2015, the EPA finalized a revision of the technology-based effluent limitations guidelines and standards regulation to make the existing controls on discharges from steam electric power plants more stringent. The final rule sets the first federal limits on the levels of toxic metals in wastewater that can be discharged from power plants. The new requirements for existing power plants would be phased in between 2018 and 2023. The final rule establishes new or additional requirements for wastewaters associated with the following processes and byproducts at certain KCP&L and GMO stations: flue gas desulfurization, fly ash, bottom ash, flue gas mercury control, and combustion residual leachate from landfills and surface impoundments. Estimated capital costs to comply with the final rule are included in the estimated capital expenditures table above. Solid Waste Solid and hazardous waste generation, storage, transportation, treatment and disposal are regulated at the federal and state levels under various laws and regulations. In December 2014, the EPA finalized regulations to regulate coal combustion residuals (CCRs) under the Resource Conservation and Recovery Act (RCRA) subtitle D to address the risks from the disposal of CCRs generated from the combustion of coal at electric generating facilities. The Companies use coal in generating electricity and dispose of the CCRs in both on-site facilities and facilities owned by third parties. The rule requires periodic assessments; groundwater monitoring; location restrictions; design and operating requirements; recordkeeping and notifications; and closure, among other requirements, for CCR units. The rule was promulgated in the Federal Register on April 17, 2015, and became effective six months after promulgation with various obligations effective at specified times within the rule. Estimated capital costs to comply with the CCR rule are included in the estimated capital expenditures table above. Remediation Certain federal and state laws, including the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), hold current and previous owners or operators of contaminated facilities and persons who arranged for the disposal or treatment of hazardous substances liable for the cost of investigation and cleanup. CERCLA and other laws also authorize the EPA and other agencies to issue orders compelling potentially responsible parties to clean up sites that are determined to present an actual or potential threat to human health or the environment. GMO retains some environmental liability for several operations and investments it no longer owns. In addition, GMO also owns, or has acquired liabilities from companies that once owned or operated, former manufactured gas plant (MGP) sites, which are subject to the supervision of the EPA and various state environmental agencies. At March 31, 2016 , and December 31, 2015 , KCP&L had $0.3 million accrued for environmental remediation expenses, which covers ground water monitoring at a former MGP site. The amount accrued was established on an undiscounted basis and KCP&L does not currently have an estimated time frame over which the accrued amount may be paid. In addition to the $0.3 million accrual above, at March 31, 2016 , and December 31, 2015 , Great Plains Energy had $1.4 million accrued for the future investigation and remediation of certain additional GMO identified MGP sites and retained liabilities. This estimate was based upon review of the potential costs associated with conducting investigative and remedial actions at identified sites, as well as the likelihood of whether such actions will be necessary. This estimate could change materially after further investigation, and could also be affected by the actions of environmental agencies and the financial viability of other potentially responsible parties; however, given the uncertainty of these items the possible loss or range of loss in excess of the amount accrued is not estimable. GMO has pursued recovery of remediation costs from insurance carriers and other potentially responsible parties. As a result of a settlement with an insurance carrier, approximately $1.4 million in insurance proceeds less an annual deductible is available to GMO to recover qualified MGP remediation expenses. GMO would seek recovery of additional remediation costs and expenses through rate increases; however, there can be no assurance that such rate increases would be granted. |
Legal Proceedings
Legal Proceedings | 3 Months Ended |
Mar. 31, 2016 | |
Legal Proceedings [Abstract] | |
Contingencies Disclosure [Text Block] | 11. LEGAL PROCEEDINGS GMO Western Energy Crisis In response to complaints of excessive prices in the California energy markets, The Federal Energy Regulatory Commission (FERC) issued an order in July 2001 requiring net sellers of power in the California markets from October 2, 2000, through June 20, 2001, at prices above a FERC-determined competitive market clearing price, to make refunds to net purchasers of power in the California market during that time period. Because MPS Merchant was a net purchaser of power during the refund period, it has received approximately $8 million in refunds through settlements with certain sellers of power. MPS Merchant estimates that it is entitled to approximately $12 million in additional refunds under the standards FERC has used in this case once a comprehensive resettlement of those markets occurs, as required by FERC. FERC has stated that interest will be applied to the refunds but the amount of interest has not yet been determined. In December 2001, various parties appealed FERC orders to the United States Court of Appeals for the Ninth Circuit (Ninth Circuit) seeking review of a number of issues, including expansion of the refund period to include periods prior to October 2, 2000 (the Summer Period). MPS Merchant was a net seller of power during the Summer Period. On August 2, 2006, the Ninth Circuit issued an order finding, among other things, that FERC erred in failing to consider certain legal issues regarding whether it has authority to order refunds for violation of FERC-approved tariffs during the Summer Period. The court remanded the matter to FERC for further consideration. In November 2014 FERC issued an order finding that MPS Merchant engaged in tariff violations during the Summer Period and ordering refunds in the form of disgorgement of certain revenues. MPS Merchant (and other parties) filed a request for rehearing challenging FERC's findings of tariff violations and the remedy imposed in the November 2014 order. Additionally, several parties representing California utilities and governmental agencies filed a request for clarification or rehearing focusing on the remedy. In November 2015, FERC issued an order on rehearing, confirming its findings of violation and expanding the remedy from its November 2014 order to cover additional MPS Merchant sales in the California markets. MPS Merchant filed another request for rehearing, challenging the expanded remedy, and also filed a petition for review of the November 2014 and November 2015 orders with the Ninth Circuit. In February 2016, FERC issued another order on rehearing/clarification that requires MPS Merchant to refund, in the form of disgorgement, all revenues in excess of the FERC-determined competitive market clearing price for all sales in the California markets during the Summer Period that occurred in any hour in which any remaining respondent in the proceeding was found to have committed a tariff violation. That order is subject to further rehearing and judicial review. Under FERC's orders, MPS Merchant may be able to offset its costs of selling power against any remedy ultimately imposed to ensure that it does not under-recover its actual costs. Due to the uncertainties remaining in the case, the loss or range of loss cannot be reasonably estimated . |
Related Party Transactions and
Related Party Transactions and Relationships | 3 Months Ended |
Mar. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions and Relationships | 12 . RELATED PARTY TRANSACTIONS AND RELATIONSHIPS KCP&L employees manage GMO's business and operate its facilities at cost, including GMO's 18% ownership interest in KCP&L's Iatan Nos. 1 and 2. The operating expenses and capital costs billed from KCP&L to GMO were $47.2 million and $46.0 million , respectively, for the three months ended March 31, 2016 and 2015. KCP&L and GMO are also authorized to participate in the Great Plains Energy money pool, an internal financing arrangement in which funds may be lent on a short-term basis to KCP&L and GMO from Great Plains Energy and between KCP&L and GMO. At March 31, 2016, and December 31, 2015, KCP&L had no outstanding receivables or payables under the money pool. The following table summarizes KCP&L's related party net receivables. March 31 December 31 2016 2015 (millions) Net receivable from GMO $ 39.7 $ 50.0 Net receivable from Great Plains Energy 17.7 15.8 |
Derivative Instruments
Derivative Instruments | 3 Months Ended |
Mar. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 13 . DERIVATIVE INSTRUMENTS Great Plains Energy and KCP&L are exposed to a variety of market risks including interest rates and commodity prices. Management has established risk management policies and strategies to reduce the potentially adverse effects that the volatility of the markets may have on Great Plains Energy's and KCP&L's operating results. Great Plains Energy's and KCP&L's interest rate risk management activities have included using derivative instruments to hedge against future interest rate fluctuations on anticipated debt issuances. Commodity risk management activities, including the use of certain derivative instruments, are subject to the management, direction and control of an internal commodity risk committee. Management maintains commodity price risk management strategies that use derivative instruments to reduce the effects of fluctuations in wholesale sales, fuel and purchased power expense caused by commodity price volatility. Counterparties to commodity derivatives expose Great Plains Energy and KCP&L to credit loss in the event of nonperformance. This credit loss is limited to the cost of replacing these contracts at current market rates. Derivative instruments, excluding those instruments that qualify for the normal purchases and normal sales (NPNS) election, which are accounted for by accrual accounting, are recorded on the balance sheet at fair value as an asset or liability. Changes in the fair value of derivative instruments are recorded to a regulatory asset or liability consistent with KCC and MPSC regulatory orders. Great Plains Energy and KCP&L have posted collateral, in the ordinary course of business, for the aggregate fair value of all derivative instruments with credit risk-related contingent features that are in a liability position. At March 31, 2016 , Great Plains Energy and KCP&L have posted collateral in excess of the aggregate fair value of their derivative instruments; therefore, if the credit risk-related contingent features underlying these agreements were triggered, Great Plains Energy and KCP&L would not be required to post additional collateral to their counterparties. For derivative contracts with counterparties under master netting arrangements, Great Plains Energy and KCP&L can net receivables and payables with each respective counterparty. Commodity Risk Management KCP&L's risk management policy uses derivative instruments to mitigate exposure to market price fluctuations for wholesale power. KCP&L has designated these financial contracts as economic hedges (non-hedging derivatives). The fair values of these instruments are recorded as derivative assets or liabilities with an offsetting entry recorded to a regulatory asset or liability. The settlement costs are included in KCP&L's fuel recovery mechanism. A regulatory asset or liability is recorded to reflect the change in the timing of recognition authorized by the MPSC. Recovery of actual costs will not impact earnings, but will impact cash flows due to the timing of the recovery mechanism. KCP&L and GMO have Transmission Congestion Rights (TCRs) that they utilize to hedge against congestion costs and protect load prices in the Southwest Power Pool, Inc. (SPP) Integrated Marketplace. These financial contracts have been designated as economic hedges (non-hedging derivatives). The fair values of these instruments are recorded as derivative assets or liabilities with an offsetting entry recorded to a regulatory asset or liability. The settlement costs are included in KCP&L's and GMO's fuel recovery mechanisms. A regulatory asset or liability is recorded to reflect the change in the timing of recognition authorized by KCC and MPSC. Recovery of actual costs will not impact earnings, but will impact cash flows due to the timing of the recovery mechanism. GMO's risk management policy uses derivative instruments to mitigate price exposure to natural gas price volatility in the market. At March 31, 2016 , GMO had financial contracts in place to hedge approximately 61% , 35% and 11% of the expected on-peak natural gas generation and natural gas equivalent purchased power price exposure for the remainder of 2016 , 2017 and 2018 , respectively. The fair value of the portfolio will settle against actual purchases of natural gas and purchased power. GMO has designated its natural gas hedges as economic hedges (non-hedging derivatives). In connection with GMO's 2005 Missouri electric rate case, it was agreed that the settlement costs of these contracts would be recognized in fuel expense. The settlement cost is included in GMO's fuel recovery mechanism. A regulatory asset or liability is recorded to reflect the change in the timing of recognition authorized by the MPSC. Recovery of actual costs will not impact earnings, but will impact cash flows due to the timing of the recovery mechanism. MPS Merchant, which has certain long-term natural gas contracts remaining from its former non-regulated trading operations, manages the daily delivery of its remaining contractual commitments with economic hedges (non-hedging derivatives) to reduce its exposure to changes in market prices. Within the trading portfolio, MPS Merchant takes certain positions to hedge physical sale or purchase contracts. MPS Merchant records the fair value of physical trading energy contracts as derivative assets or liabilities with an offsetting entry to the consolidated statements of comprehensive income. The gross notional contract amount and recorded fair values of open positions for derivative instruments are summarized in the following table. The fair values of these derivatives are recorded on the consolidated balance sheets. The fair values below are gross values before netting agreements and netting of cash collateral. March 31 December 31 2016 2015 Notional Contract Amount Fair Value Notional Contract Amount Fair Value Great Plains Energy (millions) Non-hedging derivatives Futures contracts $ 30.9 $ (5.3 ) $ 26.6 $ (5.7 ) Forward contracts 13.2 2.9 15.6 3.1 Transmission congestion rights 2.3 (0.2 ) 5.6 (0.5 ) KCP&L Non-hedging derivatives Futures contracts $ 1.5 $ (0.2 ) $ 0.9 $ (0.1 ) Transmission congestion rights 1.7 (0.1 ) 4.1 (0.4 ) The fair values of Great Plains Energy's and KCP&L's open derivative positions and balance sheet classification are summarized in the following tables. The fair values below are gross values before netting agreements and netting of cash collateral. Great Plains Energy Balance Sheet Asset Derivatives Liability Derivatives March 31, 2016 Classification Fair Value Fair Value Derivatives Not Designated as Hedging Instruments (millions) Commodity contracts Other $ 3.4 $ 6.0 December 31, 2015 Derivatives Not Designated as Hedging Instruments Commodity contracts Other $ 3.3 $ 6.4 KCP&L Balance Sheet Asset Derivatives Liability Derivatives March 31, 2016 Classification Fair Value Fair Value Derivatives Not Designated as Hedging Instruments (millions) Commodity contracts Other $ 0.2 $ 0.5 December 31, 2015 Derivatives Not Designated as Hedging Instruments Commodity contracts Other $ 0.2 $ 0.7 The following tables provide information regarding Great Plains Energy's and KCP&L's offsetting of derivative assets and liabilities. Great Plains Energy Gross Amounts Not Offset in the Statement of Financial Position Description Gross Amounts Recognized Gross Amounts Offset in the Statement of Financial Position Net Amounts Presented in the Statement of Financial Position Financial Instruments Cash Collateral Net Amount March 31, 2016 (millions) Derivative assets $ 3.4 $ (0.5 ) $ 2.9 $ — $ — $ 2.9 Derivative liabilities 6.0 (5.8 ) 0.2 — — 0.2 December 31, 2015 Derivative assets $ 3.3 $ (0.2 ) $ 3.1 $ — $ — $ 3.1 Derivative liabilities 6.4 (5.9 ) 0.5 — — 0.5 KCP&L Gross Amounts Not Offset in the Statement of Financial Position Description Gross Amounts Recognized Gross Amounts Offset in the Statement of Financial Position Net Amounts Presented in the Statement of Financial Position Financial Instruments Cash Collateral Net Amount March 31, 2016 (millions) Derivative assets $ 0.2 $ (0.2 ) $ — $ — $ — $ — Derivative liabilities 0.5 (0.4 ) 0.1 — — 0.1 December 31, 2015 Derivative assets $ 0.2 $ (0.2 ) $ — $ — $ — $ — Derivative liabilities 0.7 (0.3 ) 0.4 — — 0.4 At March 31, 2016 , and December 31, 2015 , Great Plains Energy offset $5.4 million and $5.7 million , respectively, of cash collateral posted with counterparties against net derivative positions. See Note 15 for information regarding amounts reclassified out of accumulated other comprehensive loss for Great Plains Energy and KCP&L. Great Plains Energy's accumulated OCI at March 31, 2016 , includes $9.2 million that is expected to be reclassified to expenses over the next twelve months. KCP&L's accumulated OCI at March 31, 2016 , includes $8.8 million that is expected to be reclassified to expenses over the next twelve months. The following tables summarize the amounts of gain (loss) recognized for the change in fair value of commodity contract derivatives not designated as hedging instruments for Great Plains Energy and KCP&L. Great Plains Energy Derivatives Not Designated as Hedging Instruments Three Months Ended March 31 2016 2015 Location of Loss (millions) Electric revenues $ (0.4 ) $ (5.2 ) Fuel (1.9 ) (0.5 ) Purchased power (0.2 ) (0.1 ) Regulatory asset (6.2 ) (6.3 ) Total $ (8.7 ) $ (12.1 ) KCP&L Derivatives Not Designated as Hedging Instruments Three Months Ended March 31 2016 2015 Location of Gain (Loss) (millions) Electric revenues $ (0.4 ) $ (5.2 ) Fuel 0.4 0.2 Regulatory asset (0.2 ) (1.4 ) Total $ (0.2 ) $ (6.4 ) |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 14. FAIR VALUE MEASUREMENTS GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad categories, giving the highest priority to quoted prices in active markets for identical assets or liabilities and lowest priority to unobservable inputs. A definition of the various levels, as well as discussion of the various measurements within the levels, is as follows: Level 1 – Unadjusted quoted prices for identical assets or liabilities in active markets that Great Plains Energy and KCP&L have access to at the measurement date. Level 2 – Market-based inputs for assets or liabilities that are observable (either directly or indirectly) or inputs that are not observable but are corroborated by market data. Level 3 – Unobservable inputs, reflecting Great Plains Energy's and KCP&L's own assumptions about the assumptions market participants would use in pricing the asset or liability. Great Plains Energy and KCP&L record cash and cash equivalents and short-term borrowings on the balance sheet at cost, which approximates fair value due to the short-term nature of these instruments. Great Plains Energy and KCP&L record long-term debt on the balance sheet at amortized cost. The fair value of long-term debt is measured as a Level 2 liability and is based on quoted market prices, with the incremental borrowing rate for similar debt used to determine fair value if quoted market prices are not available. At March 31, 2016 , the book value and fair value of Great Plains Energy's long-term debt, including current maturities, were $3.7 billion and $4.1 billion , respectively. At December 31, 2015 , the book value and fair value of Great Plains Energy's long-term debt, including current maturities, were $3.7 billion and $4.0 billion , respectively. At March 31, 2016 , the book value and fair value of KCP&L's long-term debt, including current maturities, were $2.6 billion and $2.8 billion , respectively. At December 31, 2015 , the book value and fair value of KCP&L's long-term debt, including current maturities, were $2.6 billion and $2.8 billion , respectively. The following tables include Great Plains Energy's and KCP&L's balances of financial assets and liabilities measured at fair value on a recurring basis. The fair values below are gross values before netting arrangements and netting of cash collateral. Description March 31 Level 1 Level 2 Level 3 KCP&L (millions) Assets Nuclear decommissioning trust (a) Equity securities $ 137.1 $ 137.1 $ — $ — Debt securities U.S. Treasury 29.2 29.2 — — U.S. Agency 1.8 — 1.8 — State and local obligations 3.2 — 3.2 — Corporate bonds 30.8 — 30.8 — Foreign governments 0.3 — 0.3 — Cash equivalents 2.4 2.4 — — Total nuclear decommissioning trust 204.8 168.7 36.1 — Self-insured health plan trust (b) Equity securities 0.8 0.8 — — Debt securities 5.1 — 5.1 — Cash and cash equivalents 8.6 8.6 — — Total self-insured health plan trust 14.5 9.4 5.1 — Derivative instruments (c) 0.2 — — 0.2 Total $ 219.5 $ 178.1 $ 41.2 $ 0.2 Liabilities Derivative instruments (c) 0.5 0.2 — 0.3 Total $ 0.5 $ 0.2 $ — $ 0.3 Other Great Plains Energy Assets Derivative instruments (c) $ 3.2 $ 0.3 $ 2.6 $ 0.3 SERP rabbi trusts (d) Equity securities 0.1 0.1 — — Total $ 3.3 $ 0.4 $ 2.6 $ 0.3 Liabilities Derivative instruments (c) 5.5 5.4 — 0.1 Total $ 5.5 $ 5.4 $ — $ 0.1 Great Plains Energy Assets Nuclear decommissioning trust (a) $ 204.8 $ 168.7 $ 36.1 $ — Self-insured health plan trust (b) 14.5 9.4 5.1 — Derivative instruments (c) 3.4 0.3 2.6 0.5 SERP rabbi trusts (d) 0.1 0.1 — — Total $ 222.8 $ 178.5 $ 43.8 $ 0.5 Liabilities Derivative instruments (c) 6.0 5.6 — 0.4 Total $ 6.0 $ 5.6 $ — $ 0.4 Description December 31 Level 1 Level 2 Level 3 KCP&L (millions) Assets Nuclear decommissioning trust (a) Equity securities $ 135.4 $ 135.4 $ — $ — Debt securities U.S. Treasury 26.4 26.4 — — U.S. Agency 1.8 — 1.8 — State and local obligations 4.0 — 4.0 — Corporate bonds 29.2 — 29.2 — Foreign governments 0.3 — 0.3 — Cash equivalents 3.6 3.6 — — Total nuclear decommissioning trust 200.7 165.4 35.3 — Self-insured health plan trust (b) Equity securities 1.1 1.1 — — Debt securities 7.3 — 7.3 — Cash and cash equivalents 5.2 5.2 — — Total self-insured health plan trust 13.6 6.3 7.3 — Derivative instruments (c) 0.2 — — 0.2 Total $ 214.5 $ 171.7 $ 42.6 $ 0.2 Liabilities Derivative instruments (c) 0.7 0.1 — 0.6 Total $ 0.7 $ 0.1 $ — $ 0.6 Other Great Plains Energy Assets Derivative instruments (c) $ 3.1 $ — $ 2.7 $ 0.4 SERP rabbi trusts (d) Equity securities 0.1 0.1 — — Total $ 3.2 $ 0.1 $ 2.7 $ 0.4 Liabilities Derivative instruments (c) 5.7 5.6 — 0.1 Total $ 5.7 $ 5.6 $ — $ 0.1 Great Plains Energy Assets Nuclear decommissioning trust (a) $ 200.7 $ 165.4 $ 35.3 $ — Self-insured health plan trust (b) 13.6 6.3 7.3 — Derivative instruments (c) 3.3 — 2.7 0.6 SERP rabbi trusts (d) 0.1 0.1 — — Total $ 217.7 $ 171.8 $ 45.3 $ 0.6 Liabilities Derivative instruments (c) 6.4 5.7 — 0.7 Total $ 6.4 $ 5.7 $ — $ 0.7 (a) Fair value is based on quoted market prices of the investments held by the fund and/or valuation models. (b) Fair value is based on quoted market prices of the investments held by the trust. Debt securities classified as Level 2 are comprised of corporate bonds, U.S. Agency, state and local obligations, and other asset-backed securities. (c) The fair value of derivative instruments is estimated using market quotes, over-the-counter forward price and volatility curves and correlations among fuel prices, net of estimated credit risk. Derivative instruments classified as Level 1 represent exchange traded derivative instruments. Derivative instruments classified as Level 2 represent non-exchange traded derivative instruments valued using pricing models for which observable market data is available to corroborate the valuation inputs. Derivative instruments classified as Level 3 represent non-exchange traded derivative instruments valued using pricing models 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. (d) At March 31, 2016, and December 31, 2015, the Supplemental Executive Retirement Plan (SERP) rabbi trusts also included $16.2 million and $16.6 million , respectively, of fixed income funds valued at net asset value (NAV) per share (or its equivalent) that are not categorized in the fair value hierarchy. The fixed income fund invests primarily in intermediate and long-term debt securities, can be redeemed immediately and is not subject to any restrictions on redemptions. The following tables reconcile the beginning and ending balances for all Level 3 assets and liabilities measured at fair value on a recurring basis. Great Plains Energy Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Derivative Instruments 2016 2015 (millions) Net asset (liability) at January 1 $ (0.1 ) $ 3.5 Total realized/unrealized gains (losses): included in electric revenue (0.4 ) (5.2 ) included in purchased power expense (0.2 ) (0.1 ) included in non-operating income 1.2 2.1 included in regulatory asset — (2.0 ) Purchases (0.3 ) 0.2 Settlements (0.1 ) 0.3 Net asset (liability) at March 31 $ 0.1 $ (1.2 ) Total unrealized losses relating to assets and liabilities still on the consolidated balance sheet at March 31: included in electric revenue $ — $ (1.5 ) included in non-operating income — (0.1 ) included in regulatory asset — (2.0 ) KCP&L Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Derivative Instruments 2016 2015 (millions) Net asset (liability) at January 1 $ (0.4 ) $ 3.1 Total realized/unrealized gains (losses): included in electric revenue (0.4 ) (5.2 ) included in regulatory asset — (1.4 ) Purchases (0.3 ) (0.4 ) Settlements 1.0 3.1 Net liability at March 31 $ (0.1 ) $ (0.8 ) Total unrealized losses relating to assets and liabilities still on the consolidated balance sheet at March 31: included in electric revenue $ — $ (1.5 ) included in regulatory asset — (1.4 ) |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income (Loss) [Text Block] | 15 . ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables reflect the change in the balances of each component of accumulated other comprehensive loss for Great Plains Energy and KCP&L. Great Plains Energy Gains and Losses on Cash Flow Hedges (a) Defined Benefit Pension Items (a) Total (a) (millions) Three Months Ended March 31, 2016 Beginning balance January 1 $ (10.1 ) $ (1.9 ) $ (12.0 ) Amounts reclassified from accumulated other comprehensive loss 1.4 0.1 1.5 Net current period other comprehensive income 1.4 0.1 1.5 Ending balance March 31 $ (8.7 ) $ (1.8 ) $ (10.5 ) Three Months Ended March 31, 2015 Beginning balance January 1 $ (15.8 ) $ (2.9 ) $ (18.7 ) Amounts reclassified from accumulated other comprehensive loss 1.4 0.1 1.5 Net current period other comprehensive income 1.4 0.1 1.5 Ending balance March 31 $ (14.4 ) $ (2.8 ) $ (17.2 ) (a) Net of tax KCP&L Gains and Losses on Cash Flow Hedges (a) (millions) Three Months Ended March 31, 2016 Beginning balance January 1 $ (9.6 ) Amounts reclassified from accumulated other comprehensive loss 1.4 Net current period other comprehensive income 1.4 Ending balance March 31 $ (8.2 ) Three Months Ended March 31, 2015 Beginning balance January 1 $ (14.9 ) Amounts reclassified from accumulated other comprehensive loss 1.4 Net current period other comprehensive income 1.4 Ending balance March 31 $ (13.5 ) (a) Net of tax The following tables reflect the effect on certain line items of net income from amounts reclassified out of each component of accumulated other comprehensive loss for Great Plains Energy and KCP&L. Great Plains Energy Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in the Income Statement Three Months Ended March 31 2016 2015 (millions) Gains and (losses) on cash flow hedges (effective portion) Interest rate contracts $ (2.3 ) $ (2.3 ) Interest charges (2.3 ) (2.3 ) Income before income tax expense and income from equity investments 0.9 0.9 Income tax benefit $ (1.4 ) $ (1.4 ) Net income Amortization of defined benefit pension items Net losses included in net periodic benefit costs $ (0.2 ) $ (0.2 ) Utility operating and maintenance expenses (0.2 ) (0.2 ) Income before income tax expense and income from equity investments 0.1 0.1 Income tax benefit $ (0.1 ) $ (0.1 ) Net income Total reclassifications, net of tax $ (1.5 ) $ (1.5 ) Net income KCP&L Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in the Income Statement Three Months Ended March 31 2016 2015 (millions) Gains and (losses) on cash flow hedges (effective portion) Interest rate contracts $ (2.3 ) $ (2.3 ) Interest charges (2.3 ) (2.3 ) Income before income tax expense 0.9 0.9 Income tax benefit Total reclassifications, net of tax $ (1.4 ) $ (1.4 ) Net income |
Taxes
Taxes | 3 Months Ended |
Mar. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 16. TAXES Components of income tax expense are detailed in the following tables. Great Plains Energy Three Months Ended March 31 2016 2015 Current income taxes (millions) Federal $ (0.1 ) $ 0.5 State 0.2 (0.1 ) Total 0.1 0.4 Deferred income taxes Federal 9.7 5.1 State 2.3 1.4 Total 12.0 6.5 Investment tax credit amortization (0.4 ) (0.4 ) Income tax expense $ 11.7 $ 6.5 KCP&L Three Months Ended March 31 2016 2015 Current income taxes (millions) Federal $ 0.4 $ (5.7 ) State 0.1 (1.1 ) Total 0.5 (6.8 ) Deferred income taxes Federal 8.4 8.3 State 2.0 2.0 Total 10.4 10.3 Investment tax credit amortization (0.2 ) (0.2 ) Income tax expense $ 10.7 $ 3.3 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. Great Plains Energy Three Months Ended March 31 2016 2015 Federal statutory income tax rate 35.0 % 35.0 % Differences between book and tax depreciation not normalized 0.5 (0.7 ) Amortization of investment tax credits (0.9 ) (1.4 ) Federal income tax credits (8.0 ) (10.0 ) State income taxes 4.2 3.3 Other — (0.7 ) Effective income tax rate 30.8 % 25.5 % KCP&L Three Months Ended March 31 2016 2015 Federal statutory income tax rate 35.0 % 35.0 % Differences between book and tax depreciation not normalized 0.4 (0.5 ) Amortization of investment tax credits (0.7 ) (1.6 ) Federal income tax credits (7.8 ) (15.2 ) State income taxes 3.9 3.7 Other (0.5 ) (1.7 ) Effective income tax rate 30.3 % 19.7 % |
Segments and Related Informatio
Segments and Related Information | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Segments and Related Information | 17 . SEGMENTS AND RELATED INFORMATION Great Plains Energy has one reportable segment based on its method of internal reporting, which segregates reportable segments based on products and services, management responsibility and regulation. The one reportable business segment is electric utility, consisting of KCP&L, GMO's regulated utility operations and GMO Receivables Company. Other includes GMO activity other than its regulated utility operations, GPETHC and unallocated corporate charges. The summary of significant accounting policies applies to the reportable segment. Segment performance is evaluated based on net income. The following tables reflect summarized financial information concerning Great Plains Energy's reportable segment. Three Months Ended March 31, 2016 Electric Utility Other Eliminations Great Plains Energy (millions) Operating revenues $ 572.1 $ — $ — $ 572.1 Depreciation and amortization (85.2 ) — — (85.2 ) Interest (charges) income (49.1 ) (10.1 ) 8.0 (51.2 ) Income tax (expense) benefit (13.1 ) 1.4 — (11.7 ) Net income (loss) 29.0 (2.6 ) — 26.4 Three Months Ended March 31, 2015 Electric Utility Other Eliminations Great Plains Energy (millions) Operating revenues $ 549.1 $ — $ — $ 549.1 Depreciation and amortization (79.8 ) — — (79.8 ) Interest (charges) income (45.3 ) (10.0 ) 8.0 (47.3 ) Income tax (expense) benefit (7.9 ) 1.4 — (6.5 ) Net income (loss) 20.9 (2.0 ) — 18.9 Electric Utility Other Eliminations Great Plains Energy March 31, 2016 (millions) Assets $ 11,090.6 $ 48.3 $ (395.8 ) $ 10,743.1 Capital expenditures (a) 133.6 — — 133.6 December 31, 2015 Assets $ 11,045.5 $ (51.1 ) $ (255.8 ) $ 10,738.6 Capital expenditures (a) 677.1 — — 677.1 (a) Capital expenditures reflect year to date amounts for the periods presented. |
Summary of Significant Accoun25
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Organization [Policy Text Block] | Organization Great Plains Energy, a Missouri corporation incorporated in 2001, is a public utility holding company and does not own or operate any significant assets other than the stock of its subsidiaries. Great Plains Energy's wholly owned direct subsidiaries with significant operations are as follows: • KCP&L is an integrated, regulated electric utility that provides electricity to customers primarily in the states of Missouri and Kansas. KCP&L has one active wholly owned subsidiary, Kansas City Power & Light Receivables Company (KCP&L Receivables Company). • KCP&L Greater Missouri Operations Company (GMO) is an integrated, regulated electric utility that provides electricity to customers in the state of Missouri. GMO also provides regulated steam service to certain customers in the St. Joseph, Missouri area. GMO has two active wholly owned subsidiaries, GMO Receivables Company and MPS Merchant Services, Inc. (MPS Merchant). MPS Merchant has certain long-term natural gas contracts remaining from its former non-regulated trading operations. Great Plains Energy also wholly owns GPE Transmission Holding Company, LLC (GPETHC). GPETHC owns 13.5% of Transource Energy, LLC (Transource) with the remaining 86.5% owned by AEP Transmission Holding Company, LLC (AEPTHC), a subsidiary of American Electric Power Company, Inc. GPETHC accounts for its investment in Transource under the equity method. Transource is focused on the development of competitive electric transmission projects. Each of Great Plains Energy's and KCP&L's consolidated financial statements includes the accounts of their subsidiaries. Intercompany transactions have been eliminated. Great Plains Energy's sole reportable business segment is electric utility. See Note 17 for additional information. |
Basic and Diluted Earnings per Common Share Calculation [Policy Text Block] | Basic and Diluted Earnings per Common Share Calculation To determine basic earnings per common share (EPS), preferred stock dividend requirements are deducted from net income before dividing by the average number of common shares outstanding. The effect of dilutive securities, calculated using the treasury stock method, assumes the issuance of common shares applicable to performance shares and restricted stock. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Standards In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in Generally Accepted Accounting Principles (GAAP) when it becomes effective. In August 2015, the FASB issued ASU No. 2015-14, deferring the effective date of ASU No. 2014-09 one year, from January 1, 2017, to January 1, 2018. The Companies plan to adopt ASU No. 2014-09 on January 1, 2018. The standard permits the use of either the retrospective or cumulative effect transition method. The Companies are evaluating the effect that ASU No. 2014-09 will have on their consolidated financial statements and related disclosures and have not yet selected a transition method nor have they determined the effect of the standard on their ongoing financial reporting. In February 2016, the FASB issued ASU No. 2016-02, Leases , which requires an entity that is a lessee to record a right-of-use asset and a lease liability for lease payments on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new guidance is effective for interim and annual periods beginning after December 15, 2018, and is required to be applied using a modified retrospective approach . The Companies are evaluating the effect that ASU No. 2016-02 will have on their consolidated financial statements and related disclosures and have not yet determined the effect of the standard on their ongoing financial reporting. In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation , which is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification on the statement of cash flows and forfeitures. The new guidance is effective for interim and annual periods beginning after December 15, 2016, and early adoption is permitted. This guidance will be applied either prospectively, retrospectively or using a modified retrospective transition method, depending on the area covered in this update. The Companies are evaluating the effect that ASU No. 2016-09 will have on their consolidated financial statements and related disclosures and have not yet selected a transition method nor have they determined the effect of the standard on their ongoing financial reporting. |
Summary of Significant Accoun26
Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table reconciles Great Plains Energy's basic and diluted EPS. Three Months Ended March 31 2016 2015 Income (millions, except per share amounts) Net income $ 26.4 $ 18.9 Less: preferred stock dividend requirements 0.4 0.4 Earnings available for common shareholders $ 26.0 $ 18.5 Common Shares Outstanding Average number of common shares outstanding 154.4 154.0 Add: effect of dilutive securities 0.6 0.4 Diluted average number of common shares outstanding 155.0 154.4 Basic and diluted EPS $ 0.17 $ 0.12 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Anti-dilutive shares excluded from the computation of diluted EPS are detailed in the following table. Three Months Ended March 31 2016 2015 Performance shares 372,093 — |
Supplemental Cash Flow Inform27
Supplemental Cash Flow Information (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Great Plains Energy Other Operating Activities Three Months Ended March 31 2016 2015 Cash flows affected by changes in: (millions) Receivables $ 39.7 $ 17.8 Fuel inventories 6.3 (12.1 ) Materials and supplies (2.1 ) 1.0 Accounts payable (120.4 ) (88.0 ) Accrued taxes 38.0 34.5 Accrued interest 14.4 16.6 Deferred refueling outage costs 4.9 (15.6 ) Pension and post-retirement benefit obligations 23.7 16.0 Allowance for equity funds used during construction (0.9 ) (3.3 ) Fuel recovery mechanisms (4.6 ) 8.7 Other (15.3 ) 2.0 Total other operating activities $ (16.3 ) $ (22.4 ) Cash paid during the period: Interest $ 33.3 $ 27.4 Income taxes $ 0.1 $ 0.1 Non-cash investing activities: Liabilities accrued for capital expenditures $ 24.7 $ 38.7 KCP&L Other Operating Activities Three Months Ended March 31 2016 2015 Cash flows affected by changes in: (millions) Receivables $ 36.5 $ 29.7 Fuel inventories 4.9 (11.6 ) Materials and supplies (2.0 ) 0.9 Accounts payable (75.5 ) (43.3 ) Accrued taxes 102.2 73.3 Accrued interest 9.9 12.1 Deferred refueling outage costs 4.9 (15.6 ) Pension and post-retirement benefit obligations 23.9 16.2 Allowance for equity funds used during construction (0.6 ) (2.7 ) Fuel recovery mechanisms (14.3 ) (2.2 ) Other (14.1 ) 3.4 Total other operating activities $ 75.8 $ 60.2 Cash paid during the period: Interest $ 22.2 $ 16.4 Non-cash investing activities: Liabilities accrued for capital expenditures $ 16.5 $ 34.8 |
Receivables (Tables)
Receivables (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
Schedule of receivables [Table Text Block] | Great Plains Energy's and KCP&L's receivables are detailed in the following table. March 31 December 31 2016 2015 Great Plains Energy (millions) Customer accounts receivable - billed $ 2.1 $ 3.4 Customer accounts receivable - unbilled 45.2 71.6 Allowance for doubtful accounts - customer accounts receivable (4.5 ) (3.8 ) Other receivables 65.3 76.5 Total $ 108.1 $ 147.7 KCP&L Customer accounts receivable - billed $ 1.2 $ 2.8 Customer accounts receivable - unbilled 41.4 58.8 Allowance for doubtful accounts - customer accounts receivable (2.0 ) (1.8 ) Other receivables 60.6 69.4 Total $ 101.2 $ 129.2 |
Nuclear Plant (Tables)
Nuclear Plant (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Nuclear Plant [Abstract] | |
Changes in nuclear decommissioning trust fund | The following table summarizes the change in Great Plains Energy's and KCP&L's nuclear decommissioning trust fund. March 31 December 31 Decommissioning Trust (millions) Beginning balance January 1 $ 200.7 $ 199.0 Contributions 0.8 3.3 Earned income, net of fees 1.1 3.4 Net realized gains — 0.7 Net unrealized gains (losses) 2.2 (5.7 ) Ending balance $ 204.8 $ 200.7 |
Detail of assets held in nuclear decommissioning trust fund | The nuclear decommissioning trust is reported at fair value on the balance sheets and is invested in assets as detailed in the following table. March 31, 2016 December 31, 2015 Cost Basis Unrealized Gains Unrealized Losses Fair Value Cost Basis Unrealized Gains Unrealized Losses Fair Value (millions) Equity securities $ 90.9 $ 48.8 $ (2.6 ) $ 137.1 $ 89.6 $ 47.9 $ (2.1 ) $ 135.4 Debt securities 61.4 4.0 (0.1 ) 65.3 59.6 2.6 (0.5 ) 61.7 Other 2.4 — — 2.4 3.6 — — 3.6 Total $ 154.7 $ 52.8 $ (2.7 ) $ 204.8 $ 152.8 $ 50.5 $ (2.6 ) $ 200.7 |
Gains and losses from the sale of securities by the nuclear decommissioning trust fund | The following table summarizes the realized gains and losses from the sale of securities in the nuclear decommissioning trust fund. Three Months Ended March 31 2016 2015 (millions) Realized gains $ 0.7 $ 1.4 Realized losses (0.7 ) (0.6 ) |
Pension Plans and Other Emplo30
Pension Plans and Other Employee Benefits (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs [Table Text Block] | The following table provides Great Plains Energy's components of net periodic benefit costs prior to the effects of capitalization and sharing with joint owners of power plants. Pension Benefits Other Benefits Three Months Ended March 31 2016 2015 2016 2015 Components of net periodic benefit costs (millions) Service cost $ 10.5 $ 11.3 $ 0.7 $ 0.8 Interest cost 13.2 12.6 1.5 1.7 Expected return on plan assets (12.3 ) (12.9 ) (0.8 ) (0.7 ) Prior service cost 0.2 0.2 0.3 0.8 Recognized net actuarial (gain)/loss 13.0 12.8 (0.4 ) — Net periodic benefit costs before regulatory adjustment 24.6 24.0 1.3 2.6 Regulatory adjustment (1.0 ) (3.2 ) 1.5 1.4 Net periodic benefit costs $ 23.6 $ 20.8 $ 2.8 $ 4.0 |
Equity Compensation (Tables)
Equity Compensation (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |
Equity compensation expense and associated income tax benefits | Three Months Ended March 31 2016 2015 Great Plains Energy (millions) Equity compensation expense $ 3.7 $ (0.2 ) Income tax benefit 1.5 — KCP&L Equity compensation expense $ 2.5 $ (0.1 ) Income tax benefit 1.0 — |
Performance share activity | Performance Shares Grant Date Fair Value* Beginning balance January 1, 2016 609,010 $ 25.60 Granted 225,204 31.41 Earned (306,953 ) 24.22 Performance adjustment 99,553 24.16 Ending balance March 31, 2016 626,814 28.13 |
Restricted stock activity | Nonvested Restricted Stock Grant Date Fair Value* Beginning balance January 1, 2016 231,508 $ 24.78 Granted and issued 95,218 29.42 Vested (69,219 ) 22.59 Ending balance March 31, 2016 257,507 27.09 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Debt Disclosure [Abstract] | |
Schedule of Debt [Table Text Block] | Great Plains Energy's and KCP&L's long-term debt is detailed in the following table. March 31 December 31 Year Due 2016 2015 KCP&L (millions) General Mortgage Bonds 2.47% EIRR bonds (a) 2017-2035 $ 110.5 $ 110.5 7.15% Series 2009A (8.59% rate) (b) 2019 400.0 400.0 Senior Notes 5.85% Series (5.72% rate) (b) 2017 250.0 250.0 6.375% Series (7.49% rate) (b) 2018 350.0 350.0 3.15% Series 2023 300.0 300.0 3.65% Series 2025 350.0 350.0 6.05% Series (5.78% rate) (b) 2035 250.0 250.0 5.30% Series 2041 400.0 400.0 EIRR Bonds 0.17% Series 2007A and 2007B (c) 2035 146.5 146.5 2.875% Series 2008 2038 23.4 23.4 Unamortized discount and debt issuance costs (17.0 ) (17.3 ) Total KCP&L excluding current maturities (d) 2,563.4 2,563.1 Other Great Plains Energy GMO First Mortgage Bonds 9.44% Series 2017-2021 5.7 6.8 GMO Senior Notes 8.27% Series 2021 80.9 80.9 3.49% Series A 2025 125.0 125.0 4.06% Series B 2033 75.0 75.0 4.74% Series C 2043 150.0 150.0 GMO Medium Term Notes 7.33% Series 2023 3.0 3.0 7.17% Series 2023 7.0 7.0 Great Plains Energy Senior Notes 6.875% Series (7.33% rate) (b) 2017 100.0 100.0 4.85% Series 2021 350.0 350.0 5.292% Series 2022 287.5 287.5 Current maturities (1.1 ) (1.1 ) Unamortized discount and premium, net and debt issuance costs (2.0 ) (2.1 ) Total Great Plains Energy excluding current maturities (d) $ 3,744.4 $ 3,745.1 (a) Weighted-average interest rates at March 31, 2016 (b) Rate after amortizing gains/losses recognized in other comprehensive income (OCI) on settlements of interest rate hedging instruments (c) Variable rate (d) At March 31, 2016, and December 31, 2015, does not include $50.0 million and $21.9 million of secured Series 2005 Environmental Improvement Revenue Refunding (EIRR) bonds because the bonds were repurchased in September 2015 and are held by KCP&L |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule Of Environmental Capital Expenditures [Table Text Block] | 2016 2017 2018 2019 2020 (millions) Great Plains Energy $ 99.6 $ 45.5 $ 20.6 $ 98.9 $ 151.9 KCP&L 83.8 30.1 14.4 87.3 130.0 |
Related Party Transactions an34
Related Party Transactions and Relationships (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Related Party Transactions [Abstract] | |
Schedule of related party receivables and payables [Table Text Block] | The following table summarizes KCP&L's related party net receivables. March 31 December 31 2016 2015 (millions) Net receivable from GMO $ 39.7 $ 50.0 Net receivable from Great Plains Energy 17.7 15.8 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Values of open positions for derivative instruments [Table Text Block] | The gross notional contract amount and recorded fair values of open positions for derivative instruments are summarized in the following table. The fair values of these derivatives are recorded on the consolidated balance sheets. The fair values below are gross values before netting agreements and netting of cash collateral. March 31 December 31 2016 2015 Notional Contract Amount Fair Value Notional Contract Amount Fair Value Great Plains Energy (millions) Non-hedging derivatives Futures contracts $ 30.9 $ (5.3 ) $ 26.6 $ (5.7 ) Forward contracts 13.2 2.9 15.6 3.1 Transmission congestion rights 2.3 (0.2 ) 5.6 (0.5 ) KCP&L Non-hedging derivatives Futures contracts $ 1.5 $ (0.2 ) $ 0.9 $ (0.1 ) Transmission congestion rights 1.7 (0.1 ) 4.1 (0.4 ) |
Fair value of open derivative positions, gross values before netting agreements and netting of cash collatral [Table Text Block] | The fair values of Great Plains Energy's and KCP&L's open derivative positions and balance sheet classification are summarized in the following tables. The fair values below are gross values before netting agreements and netting of cash collateral. Great Plains Energy Balance Sheet Asset Derivatives Liability Derivatives March 31, 2016 Classification Fair Value Fair Value Derivatives Not Designated as Hedging Instruments (millions) Commodity contracts Other $ 3.4 $ 6.0 December 31, 2015 Derivatives Not Designated as Hedging Instruments Commodity contracts Other $ 3.3 $ 6.4 KCP&L Balance Sheet Asset Derivatives Liability Derivatives March 31, 2016 Classification Fair Value Fair Value Derivatives Not Designated as Hedging Instruments (millions) Commodity contracts Other $ 0.2 $ 0.5 December 31, 2015 Derivatives Not Designated as Hedging Instruments Commodity contracts Other $ 0.2 $ 0.7 |
Offsetting Derivative Assets and Liabilities [Table Text Block] | The following tables provide information regarding Great Plains Energy's and KCP&L's offsetting of derivative assets and liabilities. Great Plains Energy Gross Amounts Not Offset in the Statement of Financial Position Description Gross Amounts Recognized Gross Amounts Offset in the Statement of Financial Position Net Amounts Presented in the Statement of Financial Position Financial Instruments Cash Collateral Net Amount March 31, 2016 (millions) Derivative assets $ 3.4 $ (0.5 ) $ 2.9 $ — $ — $ 2.9 Derivative liabilities 6.0 (5.8 ) 0.2 — — 0.2 December 31, 2015 Derivative assets $ 3.3 $ (0.2 ) $ 3.1 $ — $ — $ 3.1 Derivative liabilities 6.4 (5.9 ) 0.5 — — 0.5 KCP&L Gross Amounts Not Offset in the Statement of Financial Position Description Gross Amounts Recognized Gross Amounts Offset in the Statement of Financial Position Net Amounts Presented in the Statement of Financial Position Financial Instruments Cash Collateral Net Amount March 31, 2016 (millions) Derivative assets $ 0.2 $ (0.2 ) $ — $ — $ — $ — Derivative liabilities 0.5 (0.4 ) 0.1 — — 0.1 December 31, 2015 Derivative assets $ 0.2 $ (0.2 ) $ — $ — $ — $ — Derivative liabilities 0.7 (0.3 ) 0.4 — — 0.4 |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | The following tables summarize the amounts of gain (loss) recognized for the change in fair value of commodity contract derivatives not designated as hedging instruments for Great Plains Energy and KCP&L. Great Plains Energy Derivatives Not Designated as Hedging Instruments Three Months Ended March 31 2016 2015 Location of Loss (millions) Electric revenues $ (0.4 ) $ (5.2 ) Fuel (1.9 ) (0.5 ) Purchased power (0.2 ) (0.1 ) Regulatory asset (6.2 ) (6.3 ) Total $ (8.7 ) $ (12.1 ) KCP&L Derivatives Not Designated as Hedging Instruments Three Months Ended March 31 2016 2015 Location of Gain (Loss) (millions) Electric revenues $ (0.4 ) $ (5.2 ) Fuel 0.4 0.2 Regulatory asset (0.2 ) (1.4 ) Total $ (0.2 ) $ (6.4 ) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair value of assets and liabilities | The following tables include Great Plains Energy's and KCP&L's balances of financial assets and liabilities measured at fair value on a recurring basis. The fair values below are gross values before netting arrangements and netting of cash collateral. Description March 31 Level 1 Level 2 Level 3 KCP&L (millions) Assets Nuclear decommissioning trust (a) Equity securities $ 137.1 $ 137.1 $ — $ — Debt securities U.S. Treasury 29.2 29.2 — — U.S. Agency 1.8 — 1.8 — State and local obligations 3.2 — 3.2 — Corporate bonds 30.8 — 30.8 — Foreign governments 0.3 — 0.3 — Cash equivalents 2.4 2.4 — — Total nuclear decommissioning trust 204.8 168.7 36.1 — Self-insured health plan trust (b) Equity securities 0.8 0.8 — — Debt securities 5.1 — 5.1 — Cash and cash equivalents 8.6 8.6 — — Total self-insured health plan trust 14.5 9.4 5.1 — Derivative instruments (c) 0.2 — — 0.2 Total $ 219.5 $ 178.1 $ 41.2 $ 0.2 Liabilities Derivative instruments (c) 0.5 0.2 — 0.3 Total $ 0.5 $ 0.2 $ — $ 0.3 Other Great Plains Energy Assets Derivative instruments (c) $ 3.2 $ 0.3 $ 2.6 $ 0.3 SERP rabbi trusts (d) Equity securities 0.1 0.1 — — Total $ 3.3 $ 0.4 $ 2.6 $ 0.3 Liabilities Derivative instruments (c) 5.5 5.4 — 0.1 Total $ 5.5 $ 5.4 $ — $ 0.1 Great Plains Energy Assets Nuclear decommissioning trust (a) $ 204.8 $ 168.7 $ 36.1 $ — Self-insured health plan trust (b) 14.5 9.4 5.1 — Derivative instruments (c) 3.4 0.3 2.6 0.5 SERP rabbi trusts (d) 0.1 0.1 — — Total $ 222.8 $ 178.5 $ 43.8 $ 0.5 Liabilities Derivative instruments (c) 6.0 5.6 — 0.4 Total $ 6.0 $ 5.6 $ — $ 0.4 Description December 31 Level 1 Level 2 Level 3 KCP&L (millions) Assets Nuclear decommissioning trust (a) Equity securities $ 135.4 $ 135.4 $ — $ — Debt securities U.S. Treasury 26.4 26.4 — — U.S. Agency 1.8 — 1.8 — State and local obligations 4.0 — 4.0 — Corporate bonds 29.2 — 29.2 — Foreign governments 0.3 — 0.3 — Cash equivalents 3.6 3.6 — — Total nuclear decommissioning trust 200.7 165.4 35.3 — Self-insured health plan trust (b) Equity securities 1.1 1.1 — — Debt securities 7.3 — 7.3 — Cash and cash equivalents 5.2 5.2 — — Total self-insured health plan trust 13.6 6.3 7.3 — Derivative instruments (c) 0.2 — — 0.2 Total $ 214.5 $ 171.7 $ 42.6 $ 0.2 Liabilities Derivative instruments (c) 0.7 0.1 — 0.6 Total $ 0.7 $ 0.1 $ — $ 0.6 Other Great Plains Energy Assets Derivative instruments (c) $ 3.1 $ — $ 2.7 $ 0.4 SERP rabbi trusts (d) Equity securities 0.1 0.1 — — Total $ 3.2 $ 0.1 $ 2.7 $ 0.4 Liabilities Derivative instruments (c) 5.7 5.6 — 0.1 Total $ 5.7 $ 5.6 $ — $ 0.1 Great Plains Energy Assets Nuclear decommissioning trust (a) $ 200.7 $ 165.4 $ 35.3 $ — Self-insured health plan trust (b) 13.6 6.3 7.3 — Derivative instruments (c) 3.3 — 2.7 0.6 SERP rabbi trusts (d) 0.1 0.1 — — Total $ 217.7 $ 171.8 $ 45.3 $ 0.6 Liabilities Derivative instruments (c) 6.4 5.7 — 0.7 Total $ 6.4 $ 5.7 $ — $ 0.7 (a) Fair value is based on quoted market prices of the investments held by the fund and/or valuation models. (b) Fair value is based on quoted market prices of the investments held by the trust. Debt securities classified as Level 2 are comprised of corporate bonds, U.S. Agency, state and local obligations, and other asset-backed securities. (c) The fair value of derivative instruments is estimated using market quotes, over-the-counter forward price and volatility curves and correlations among fuel prices, net of estimated credit risk. Derivative instruments classified as Level 1 represent exchange traded derivative instruments. Derivative instruments classified as Level 2 represent non-exchange traded derivative instruments valued using pricing models for which observable market data is available to corroborate the valuation inputs. Derivative instruments classified as Level 3 represent non-exchange traded derivative instruments valued using pricing models 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. (d) At March 31, 2016, and December 31, 2015, the Supplemental Executive Retirement Plan (SERP) rabbi trusts also included $16.2 million and $16.6 million , respectively, of fixed income funds valued at net asset value (NAV) per share (or its equivalent) that are not categorized in the fair value hierarchy. The fixed income fund invests primarily in intermediate and long-term debt securities, can be redeemed immediately and is not subject to any restrictions on redemptions. |
Unobservable inputs reconciliation | The following tables reconcile the beginning and ending balances for all Level 3 assets and liabilities measured at fair value on a recurring basis. Great Plains Energy Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Derivative Instruments 2016 2015 (millions) Net asset (liability) at January 1 $ (0.1 ) $ 3.5 Total realized/unrealized gains (losses): included in electric revenue (0.4 ) (5.2 ) included in purchased power expense (0.2 ) (0.1 ) included in non-operating income 1.2 2.1 included in regulatory asset — (2.0 ) Purchases (0.3 ) 0.2 Settlements (0.1 ) 0.3 Net asset (liability) at March 31 $ 0.1 $ (1.2 ) Total unrealized losses relating to assets and liabilities still on the consolidated balance sheet at March 31: included in electric revenue $ — $ (1.5 ) included in non-operating income — (0.1 ) included in regulatory asset — (2.0 ) KCP&L Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Derivative Instruments 2016 2015 (millions) Net asset (liability) at January 1 $ (0.4 ) $ 3.1 Total realized/unrealized gains (losses): included in electric revenue (0.4 ) (5.2 ) included in regulatory asset — (1.4 ) Purchases (0.3 ) (0.4 ) Settlements 1.0 3.1 Net liability at March 31 $ (0.1 ) $ (0.8 ) Total unrealized losses relating to assets and liabilities still on the consolidated balance sheet at March 31: included in electric revenue $ — $ (1.5 ) included in regulatory asset — (1.4 ) |
Accumulated Other Comprehensi37
Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following tables reflect the change in the balances of each component of accumulated other comprehensive loss for Great Plains Energy and KCP&L. Great Plains Energy Gains and Losses on Cash Flow Hedges (a) Defined Benefit Pension Items (a) Total (a) (millions) Three Months Ended March 31, 2016 Beginning balance January 1 $ (10.1 ) $ (1.9 ) $ (12.0 ) Amounts reclassified from accumulated other comprehensive loss 1.4 0.1 1.5 Net current period other comprehensive income 1.4 0.1 1.5 Ending balance March 31 $ (8.7 ) $ (1.8 ) $ (10.5 ) Three Months Ended March 31, 2015 Beginning balance January 1 $ (15.8 ) $ (2.9 ) $ (18.7 ) Amounts reclassified from accumulated other comprehensive loss 1.4 0.1 1.5 Net current period other comprehensive income 1.4 0.1 1.5 Ending balance March 31 $ (14.4 ) $ (2.8 ) $ (17.2 ) (a) Net of tax KCP&L Gains and Losses on Cash Flow Hedges (a) (millions) Three Months Ended March 31, 2016 Beginning balance January 1 $ (9.6 ) Amounts reclassified from accumulated other comprehensive loss 1.4 Net current period other comprehensive income 1.4 Ending balance March 31 $ (8.2 ) Three Months Ended March 31, 2015 Beginning balance January 1 $ (14.9 ) Amounts reclassified from accumulated other comprehensive loss 1.4 Net current period other comprehensive income 1.4 Ending balance March 31 $ (13.5 ) (a) Net of tax |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | The following tables reflect the effect on certain line items of net income from amounts reclassified out of each component of accumulated other comprehensive loss for Great Plains Energy and KCP&L. Great Plains Energy Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in the Income Statement Three Months Ended March 31 2016 2015 (millions) Gains and (losses) on cash flow hedges (effective portion) Interest rate contracts $ (2.3 ) $ (2.3 ) Interest charges (2.3 ) (2.3 ) Income before income tax expense and income from equity investments 0.9 0.9 Income tax benefit $ (1.4 ) $ (1.4 ) Net income Amortization of defined benefit pension items Net losses included in net periodic benefit costs $ (0.2 ) $ (0.2 ) Utility operating and maintenance expenses (0.2 ) (0.2 ) Income before income tax expense and income from equity investments 0.1 0.1 Income tax benefit $ (0.1 ) $ (0.1 ) Net income Total reclassifications, net of tax $ (1.5 ) $ (1.5 ) Net income KCP&L Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in the Income Statement Three Months Ended March 31 2016 2015 (millions) Gains and (losses) on cash flow hedges (effective portion) Interest rate contracts $ (2.3 ) $ (2.3 ) Interest charges (2.3 ) (2.3 ) Income before income tax expense 0.9 0.9 Income tax benefit Total reclassifications, net of tax $ (1.4 ) $ (1.4 ) Net income |
Taxes (Tables)
Taxes (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Components of income tax expense are detailed in the following tables. Great Plains Energy Three Months Ended March 31 2016 2015 Current income taxes (millions) Federal $ (0.1 ) $ 0.5 State 0.2 (0.1 ) Total 0.1 0.4 Deferred income taxes Federal 9.7 5.1 State 2.3 1.4 Total 12.0 6.5 Investment tax credit amortization (0.4 ) (0.4 ) Income tax expense $ 11.7 $ 6.5 KCP&L Three Months Ended March 31 2016 2015 Current income taxes (millions) Federal $ 0.4 $ (5.7 ) State 0.1 (1.1 ) Total 0.5 (6.8 ) Deferred income taxes Federal 8.4 8.3 State 2.0 2.0 Total 10.4 10.3 Investment tax credit amortization (0.2 ) (0.2 ) Income tax expense $ 10.7 $ 3.3 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 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. Great Plains Energy Three Months Ended March 31 2016 2015 Federal statutory income tax rate 35.0 % 35.0 % Differences between book and tax depreciation not normalized 0.5 (0.7 ) Amortization of investment tax credits (0.9 ) (1.4 ) Federal income tax credits (8.0 ) (10.0 ) State income taxes 4.2 3.3 Other — (0.7 ) Effective income tax rate 30.8 % 25.5 % KCP&L Three Months Ended March 31 2016 2015 Federal statutory income tax rate 35.0 % 35.0 % Differences between book and tax depreciation not normalized 0.4 (0.5 ) Amortization of investment tax credits (0.7 ) (1.6 ) Federal income tax credits (7.8 ) (15.2 ) State income taxes 3.9 3.7 Other (0.5 ) (1.7 ) Effective income tax rate 30.3 % 19.7 % |
Segments and Related Informat39
Segments and Related Information (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Segment Financial Information [Table Text Block] | The following tables reflect summarized financial information concerning Great Plains Energy's reportable segment. Three Months Ended March 31, 2016 Electric Utility Other Eliminations Great Plains Energy (millions) Operating revenues $ 572.1 $ — $ — $ 572.1 Depreciation and amortization (85.2 ) — — (85.2 ) Interest (charges) income (49.1 ) (10.1 ) 8.0 (51.2 ) Income tax (expense) benefit (13.1 ) 1.4 — (11.7 ) Net income (loss) 29.0 (2.6 ) — 26.4 Three Months Ended March 31, 2015 Electric Utility Other Eliminations Great Plains Energy (millions) Operating revenues $ 549.1 $ — $ — $ 549.1 Depreciation and amortization (79.8 ) — — (79.8 ) Interest (charges) income (45.3 ) (10.0 ) 8.0 (47.3 ) Income tax (expense) benefit (7.9 ) 1.4 — (6.5 ) Net income (loss) 20.9 (2.0 ) — 18.9 Electric Utility Other Eliminations Great Plains Energy March 31, 2016 (millions) Assets $ 11,090.6 $ 48.3 $ (395.8 ) $ 10,743.1 Capital expenditures (a) 133.6 — — 133.6 December 31, 2015 Assets $ 11,045.5 $ (51.1 ) $ (255.8 ) $ 10,738.6 Capital expenditures (a) 677.1 — — 677.1 |
Summary of Significant Accoun40
Summary of Significant Accounting Policies Equity Method Investment (Details) - Transource Energy, LLC [Member] | 3 Months Ended |
Mar. 31, 2016Rate | |
Schedule of Equity Method Investments [Line Items] | |
Equity Method Investment, Description of Principal Activities | Transource is focused on the development of competitive electric transmission projects. |
GPE Transmission Holding Company, LLC [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Equity Method Investment, Ownership Percentage | 13.50% |
AEP Transmission Holding Company, LLC [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Ownership Percentage of Majority Owner | 86.50% |
Summary of Significant Accoun41
Summary of Significant Accounting Policies Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Income [Abstract] | ||
Net income | $ 26.4 | $ 18.9 |
Less: preferred stock dividend requirements | 0.4 | 0.4 |
Earnings available for common shareholders | $ 26 | $ 18.5 |
Common Shares Outstanding [Abstract] | ||
Average number of common shares outstanding (in shares) | 154.4 | 154 |
Add: effect of dilutive securities (in shares) | 0.6 | 0.4 |
Diluted average number of common shares outstanding (in shares) | 155 | 154.4 |
Earnings Per Share [Abstract] | ||
Basic and diluted EPS | $ 0.17 | $ 0.12 |
Summary of Significant Accoun42
Summary of Significant Accounting Policies Antidilutive Securities (Details) - shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Performance Shares [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 372,093 | 0 |
Summary of Significant Accoun43
Summary of Significant Accounting Policies Subsequent Events (Details) - Subsequent Event [Member] | 1 Months Ended |
May. 31, 2016$ / shares | |
Kansas City Power and Light Company [Member] | |
Dividends Declared [Abstract] | |
Dividends Payable, Date Declared, Month and Year | 2016-05 |
Dividends Payable, Amount Per Share | $ 22,000,000 |
Dividends Payable, Date to be Paid | Jun. 17, 2016 |
Common Stock [Member] | |
Dividends Declared [Abstract] | |
Dividends Payable, Date Declared, Month and Year | 2016-05 |
Dividends Payable, Amount Per Share | $ 0.2625 |
Dividends Payable, Date to be Paid | Jun. 20, 2016 |
Dividends Payable, Date of Record | May 27, 2016 |
Preferred Stock [Member] | |
Dividends Declared [Abstract] | |
Dividends Payable, Date Declared, Month and Year | 2016-05 |
Dividends Payable, Date to be Paid | Sep. 1, 2016 |
Dividends Payable, Date of Record | Aug. 11, 2016 |
Supplemental Cash Flow Inform44
Supplemental Cash Flow Information (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash flows affected by changes in: | ||
Receivables | $ 39.7 | $ 17.8 |
Fuel inventories | 6.3 | (12.1) |
Materials and supplies | (2.1) | 1 |
Accounts payable | (120.4) | (88) |
Accrued taxes | 38 | 34.5 |
Accrued interest | 14.4 | 16.6 |
Deferred refueling outage costs | 4.9 | (15.6) |
Pension and post-retirement benefit obligations | 23.7 | 16 |
Allowance for equity funds used during construction | (0.9) | (3.3) |
Fuel recovery mechanisms | (4.6) | 8.7 |
Other | (15.3) | 2 |
Total other operating activities | (16.3) | (22.4) |
Cash paid during the period: | ||
Interest | 33.3 | 27.4 |
Income Taxes | 0.1 | 0.1 |
Non-cash investing activities: | ||
Liabilities accrued for capital expenditures | 24.7 | 38.7 |
Kansas City Power and Light Company [Member] | ||
Cash flows affected by changes in: | ||
Receivables | 36.5 | 29.7 |
Fuel inventories | 4.9 | (11.6) |
Materials and supplies | (2) | 0.9 |
Accounts payable | (75.5) | (43.3) |
Accrued taxes | 102.2 | 73.3 |
Accrued interest | 9.9 | 12.1 |
Deferred refueling outage costs | 4.9 | (15.6) |
Pension and post-retirement benefit obligations | 23.9 | 16.2 |
Allowance for equity funds used during construction | (0.6) | (2.7) |
Fuel recovery mechanisms | (14.3) | (2.2) |
Other | (14.1) | 3.4 |
Total other operating activities | 75.8 | 60.2 |
Cash paid during the period: | ||
Interest | 22.2 | 16.4 |
Non-cash investing activities: | ||
Liabilities accrued for capital expenditures | $ 16.5 | $ 34.8 |
Receivables Accounts, Notes, an
Receivables Accounts, Notes, and Financing (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables | $ 65.3 | $ 76.5 |
Total | 108.1 | 147.7 |
Kansas City Power and Light Company [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other receivables | 60.6 | 69.4 |
Total | 101.2 | 129.2 |
Trade Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for doubtful accounts | (4.5) | (3.8) |
Trade Accounts Receivable [Member] | Kansas City Power and Light Company [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for doubtful accounts | (2) | (1.8) |
Trade Accounts Receivable [Member] | Billed Revenues [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts Receivable, Gross, Current | 2.1 | 3.4 |
Trade Accounts Receivable [Member] | Billed Revenues [Member] | Kansas City Power and Light Company [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts Receivable, Gross, Current | 1.2 | 2.8 |
Trade Accounts Receivable [Member] | Unbilled Revenues [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts Receivable, Gross, Current | 45.2 | 71.6 |
Trade Accounts Receivable [Member] | Unbilled Revenues [Member] | Kansas City Power and Light Company [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts Receivable, Gross, Current | $ 41.4 | $ 58.8 |
Receivables Narrative (Details)
Receivables Narrative (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Sale Of Accounts Receivable - KCPL and GMO | ||
Accounts receivable pledged as collateral | $ 175 | $ 175 |
Collateralized note payable | 175 | 175 |
Kansas City Power and Light Company [Member] | ||
Sale Of Accounts Receivable - KCPL and GMO | ||
Accounts receivable pledged as collateral | 110 | 110 |
Collateralized note payable | 110 | $ 110 |
Maximum amount of outstanding principal under receivables agreement | 110 | |
KCPL Greater Missouri Operations [Member] | ||
Sale Of Accounts Receivable - KCPL and GMO | ||
Maximum amount of outstanding principal under receivables agreement from mid-November to mid-June | 65 | |
Maximum amount of outstanding principal under receivables agreement from mid-June to mid-November | $ 80 |
Nuclear Plant (Details)
Nuclear Plant (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Investments in decommissioning trust fund [Line Items] | ||||
Cost Basis | $ 154.7 | $ 152.8 | ||
Unrealized Gains | 52.8 | 50.5 | ||
Unrealized Losses | (2.7) | (2.6) | ||
Fair Value | $ 204.8 | 200.7 | $ 199 | |
Weighted average maturity of debt securities (in years) | 7 years | |||
Realized gains | $ 0.7 | $ 1.4 | ||
Realized losses | (0.7) | $ (0.6) | ||
Equity Securities [Member] | ||||
Investments in decommissioning trust fund [Line Items] | ||||
Cost Basis | 90.9 | 89.6 | ||
Unrealized Gains | 48.8 | 47.9 | ||
Unrealized Losses | (2.6) | (2.1) | ||
Fair Value | 137.1 | 135.4 | ||
Debt Securities [Member] | ||||
Investments in decommissioning trust fund [Line Items] | ||||
Cost Basis | 61.4 | 59.6 | ||
Unrealized Gains | 4 | 2.6 | ||
Unrealized Losses | (0.1) | (0.5) | ||
Fair Value | 65.3 | 61.7 | ||
Other Securities [Member] | ||||
Investments in decommissioning trust fund [Line Items] | ||||
Cost Basis | 2.4 | 3.6 | ||
Fair Value | 2.4 | 3.6 | ||
Kansas City Power and Light Company [Member] | ||||
Investments in decommissioning trust fund [Line Items] | ||||
Fair Value | $ 204.8 | $ 200.7 | $ 199 |
Nuclear Plant Decommissioning T
Nuclear Plant Decommissioning Trust (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2016 | |
Nuclear decommissioning trust fund [Roll Forward] | |||
Beginning balance January 1 | $ 200.7 | $ 199 | |
Contributions | 0.8 | 3.3 | |
Earned income, net of fees | 1.1 | 3.4 | |
Net realized gains | 0 | 0.7 | |
Net unrealized gains (losses) | 2.2 | (5.7) | |
Ending balance | 204.8 | 200.7 | |
Kansas City Power and Light Company [Member] | |||
Nuclear decommissioning trust fund [Roll Forward] | |||
Beginning balance January 1 | 200.7 | 199 | |
Contributions | 0.8 | 3.3 | |
Earned income, net of fees | 1.1 | 3.4 | |
Net realized gains | 0 | 0.7 | |
Net unrealized gains (losses) | 2.2 | (5.7) | |
Ending balance | $ 204.8 | $ 200.7 | |
Kansas City Power and Light Company [Member] | Wolf Creek [Member] | |||
Jointly Owned Utility Plant Interests [Line Items] | |||
Ownership percentage in Wolf Creek, a nuclear generating unit (in hundredths) | 47.00% | 47.00% |
Regulatory Matters (Details)
Regulatory Matters (Details) - USD ($) $ in Millions | 1 Months Ended | |
Feb. 29, 2016 | Sep. 30, 2015 | |
Kansas City Power and Light Company [Member] | Missouri Public Service Commission [Member] | ||
Regulatory Proceedings [Line Items] | ||
Annual revenue increase authorized | $ 89.7 | |
Return on equity, approved (in hundredths) | 9.50% | |
Ratemaking equity ratio, approved (in hundredths) | 50.09% | |
Kansas City Power and Light Company [Member] | Kansas Corporation Commission [Member] | ||
Regulatory Proceedings [Line Items] | ||
Annual revenue increase authorized | $ 48.7 | |
Return on equity, approved (in hundredths) | 9.30% | |
Ratemaking equity ratio, approved (in hundredths) | 50.48% | |
KCPL Greater Missouri Operations [Member] | Missouri Public Service Commission [Member] | ||
Regulatory Proceedings [Line Items] | ||
Annual revenue increase, requested | $ 59.3 | |
Return on equity, requested (in hundredths) | 9.90% | |
Rate-making equity ratio, requested (in hundredths) | 54.83% |
Pension Plans and Other Emplo50
Pension Plans and Other Employee Benefits (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | |
Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Contributions by Employer | $ 1.6 | ||
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year | 68.1 | ||
Components of net periodic benefit costs [Abstract] | |||
Service cost | 10.5 | $ 11.3 | |
Interest cost | 13.2 | 12.6 | |
Expected return on plan assets | (12.3) | (12.9) | |
Prior service cost | 0.2 | 0.2 | |
Recognized net actuarial (gain)/loss | 13 | 12.8 | |
Net periodic benefit costs before regulatory adjustment | 24.6 | 24 | |
Regulatory adjustment | (1) | (3.2) | |
Net periodic benefit costs | 23.6 | 20.8 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year | 5.1 | ||
Components of net periodic benefit costs [Abstract] | |||
Service cost | 0.7 | 0.8 | |
Interest cost | 1.5 | 1.7 | |
Expected return on plan assets | (0.8) | (0.7) | |
Prior service cost | 0.3 | 0.8 | |
Recognized net actuarial (gain)/loss | (0.4) | 0 | |
Net periodic benefit costs before regulatory adjustment | 1.3 | 2.6 | |
Regulatory adjustment | 1.5 | 1.4 | |
Net periodic benefit costs | $ 2.8 | $ 4 | |
Wolf Creek [Member] | Kansas City Power and Light Company [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Jointly Owned Utility Plant, Proportionate Ownership Share | 47.00% | 47.00% |
Equity Compensation (Details)
Equity Compensation (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Equity compensation expense | $ 3.7 | $ (0.2) |
Income tax benefit | $ 1.5 | $ 0 |
Performance Shares [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected volatility | 18.00% | |
Expected dividend yield (in hundredths) | 3.61% | |
Risk-free interest rate | 0.94% | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Beginning balance (in shares) | 609,010 | |
Granted (in shares) | 225,204 | |
Earned (in shares) | (306,953) | |
Performance adjustment (in shares) | 99,553 | |
Ending balance (in shares) | 626,814 | |
Weighted average beginning balance (in dollars per share) | $ 25.60 | |
Weighted average granted (in dollars per share) | 31.41 | $ 24.06 |
Weighted average earned (in dollars per share) | 24.22 | |
Weighted average performance adjustment (in dollars per share) | 24.16 | |
Weighted average ending balance (in dollars per share) | $ 28.13 | |
Total unrecognized compensation expense | $ 11.7 | |
Remaining weighted-average contractual term (in years) | 1 year 11 months | |
Fair value of performance shares earned and paid | $ 7.4 | $ 0.5 |
Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Beginning balance (in shares) | 231,508 | |
Granted (in shares) | 95,218 | |
Vested (in shares) | (69,219) | |
Ending balance (in shares) | 257,507 | |
Weighted average beginning balance (in dollars per share) | $ 24.78 | |
Weighted average granted (in dollars per share) | 29.42 | $ 26.18 |
Weighted average vested (in dollars per share) | 22.59 | |
Weighted average ending balance (in dollars per share) | $ 27.09 | |
Total unrecognized compensation expense | $ 4.5 | |
Total fair value of shares vested | $ 1.6 | $ 1.9 |
Remaining weighted-average contractual term (in years) | 1 year 9 months | |
Kansas City Power and Light Company [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Equity compensation expense | $ 2.5 | (0.1) |
Income tax benefit | $ 1 | $ 0 |
Short-term Borrowings and Sho52
Short-term Borrowings and Short-term Bank Lines of Credit (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Short-term Debt [Line Items] | ||
Amount of outstanding cash borrowings | $ 15 | $ 10 |
Commercial paper outstanding | 288.3 | 224 |
Parent Company [Member] | Revolving Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Amount of revolving credit facility | $ 200 | |
Revolving credit facility expiration date | Oct. 31, 2019 | |
Maximum borrowing capacity with transfer of unused commitments | $ 400 | |
Line of Credit Facility, Covenant Terms | A default by Great Plains Energy or any of its significant subsidiaries on other indebtedness totaling more than $50.0 million is a default under the facility.  Under the terms of this facility, Great Plains Energy is required to maintain a consolidated indebtedness to consolidated capitalization ratio, as defined in the facility, not greater than 0.65 to 1.00 at all times. | |
Line of Credit Facility, Covenant Compliance | in compliance | |
Amount of outstanding cash borrowings | $ 15 | $ 10 |
Weighted-average interest rate from outstanding borrowings | 1.97% | 1.94% |
Amount of letters of credit outstanding | $ 0.2 | $ 0.2 |
Kansas City Power and Light Company [Member] | ||
Short-term Debt [Line Items] | ||
Commercial paper outstanding | $ 85.8 | $ 180.3 |
Weighted-average interest rate from outstanding borrowings | 0.71% | 0.70% |
Kansas City Power and Light Company [Member] | Revolving Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Amount of revolving credit facility | $ 600 | |
Revolving credit facility expiration date | Oct. 31, 2019 | |
Maximum transfer of unused commitments | $ 200 | |
Line of Credit Facility, Covenant Terms | A default by KCP&L on other indebtedness totaling more than $50.0 million is a default under the facility.  Under the terms of this facility, KCP&L is required to maintain a consolidated indebtedness to consolidated capitalization ratio, as defined in the facility, not greater than 0.65 to 1.00 at all times. | |
Line of Credit Facility, Covenant Compliance | in compliance | |
Amount of outstanding cash borrowings | $ 0 | $ 0 |
Amount of letters of credit outstanding | 2.8 | 2.7 |
KCPL Greater Missouri Operations [Member] | ||
Short-term Debt [Line Items] | ||
Commercial paper outstanding | $ 202.5 | $ 43.7 |
Weighted-average interest rate from outstanding borrowings | 0.71% | 0.65% |
KCPL Greater Missouri Operations [Member] | Revolving Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Amount of revolving credit facility | $ 450 | |
Revolving credit facility expiration date | Oct. 31, 2019 | |
Maximum transfer of unused commitments | $ 200 | |
Line of Credit Facility, Covenant Terms | A default by GMO or any of its significant subsidiaries on other indebtedness totaling more than $50.0 million is a default under the facility.  Under the terms of this facility, GMO is required to maintain a consolidated indebtedness to consolidated capitalization ratio, as defined in the facility, not greater than 0.65 to 1.00 at all times. | |
Line of Credit Facility, Covenant Compliance | in compliance | |
Amount of outstanding cash borrowings | $ 0 | $ 0 |
Amount of letters of credit outstanding | $ 2.2 | $ 2.5 |
Long-Term Debt (Details)
Long-Term Debt (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | ||
Current maturities | $ (1.1) | $ (1.1) |
Total Great Plains Energy excluding current maturities | 3,744.4 | 3,745.1 |
Kansas City Power and Light Company [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized discount and premium, net and debt issuance costs | (17) | (17.3) |
Total Great Plains Energy excluding current maturities | 2,563.4 | 2,563.1 |
Kansas City Power and Light Company [Member] | Secured Debt [Member] | General Mortgage Bonds EIRR due 2017-2035 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | 110.5 | 110.5 |
EIRR bonds repurchased and held | $ 21.9 | 21.9 |
Debt Instrument Maturity Date Range End | Dec. 31, 2035 | |
Debt Instrument Maturity Date Range Start | Dec. 31, 2017 | |
Long-term Debt, Weighted Average Interest Rate | 2.47% | |
Kansas City Power and Light Company [Member] | Secured Debt [Member] | General Mortgage bonds Series 2009A due 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 400 | 400 |
Debt Instrument, Maturity Date | Dec. 31, 2019 | |
Interest rates (in hundredths) | 7.15% | |
Rate after amortizing gains or losses in Other Comprehensive Income (in hundredths) | 8.59% | |
Kansas City Power and Light Company [Member] | Secured Debt [Member] | General Mortgage bonds EIRR series 2005 [Member] | ||
Debt Instrument [Line Items] | ||
EIRR bonds repurchased and held | $ 50 | 50 |
Kansas City Power and Light Company [Member] | Senior Notes [Member] | Senior notes due 2017 KCPL [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 250 | 250 |
Debt Instrument, Maturity Date | Dec. 31, 2017 | |
Interest rates (in hundredths) | 5.85% | |
Rate after amortizing gains or losses in Other Comprehensive Income (in hundredths) | 5.72% | |
Kansas City Power and Light Company [Member] | Senior Notes [Member] | Senior notes due 2018 KCPL [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 350 | 350 |
Debt Instrument, Maturity Date | Dec. 31, 2018 | |
Interest rates (in hundredths) | 6.375% | |
Rate after amortizing gains or losses in Other Comprehensive Income (in hundredths) | 7.49% | |
Kansas City Power and Light Company [Member] | Senior Notes [Member] | Senior Notes due 2023 KCPL [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 300 | 300 |
Debt Instrument, Maturity Date | Dec. 31, 2023 | |
Interest rates (in hundredths) | 3.15% | |
Kansas City Power and Light Company [Member] | Senior Notes [Member] | Senior Notes due 2025 KCPL [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 350 | 350 |
Debt Instrument, Maturity Date | Dec. 31, 2025 | |
Interest rates (in hundredths) | 3.65% | |
Kansas City Power and Light Company [Member] | Senior Notes [Member] | Senior notes due 2035 KCPL [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 250 | 250 |
Debt Instrument, Maturity Date | Dec. 31, 2035 | |
Interest rates (in hundredths) | 6.05% | |
Rate after amortizing gains or losses in Other Comprehensive Income (in hundredths) | 5.78% | |
Kansas City Power and Light Company [Member] | Senior Notes [Member] | Senior Notes Due 2041 KCPL [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 400 | 400 |
Debt Instrument, Maturity Date | Dec. 31, 2041 | |
Interest rates (in hundredths) | 5.30% | |
Kansas City Power and Light Company [Member] | Unsecured Debt [Member] | EIRR Bonds Series 2007A and 2007B due 2035 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 146.5 | 146.5 |
Debt Instrument, Maturity Date | Dec. 31, 2035 | |
Variable rate (in hundredths) | 0.17% | |
Kansas City Power and Light Company [Member] | Unsecured Debt [Member] | EIRR bonds 2.875 percent Series 2008 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 23.4 | 23.4 |
Debt Instrument, Maturity Date | Dec. 31, 2038 | |
Interest rates (in hundredths) | 2.875% | |
KCPL Greater Missouri Operations [Member] | Secured Debt [Member] | First Mortgage Bonds due through 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 5.7 | 6.8 |
Debt Instrument Maturity Date Range End | Dec. 31, 2021 | |
Debt Instrument Maturity Date Range Start | Dec. 31, 2017 | |
Interest rates (in hundredths) | 9.44% | |
KCPL Greater Missouri Operations [Member] | Senior Notes [Member] | Senior notes 8.27 percent series due 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 80.9 | 80.9 |
Debt Instrument, Maturity Date | Dec. 31, 2021 | |
Interest rates (in hundredths) | 8.27% | |
KCPL Greater Missouri Operations [Member] | Senior Notes [Member] | Senior Notes Series A due 2025 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 125 | 125 |
Debt Instrument, Maturity Date | Dec. 31, 2025 | |
Interest rates (in hundredths) | 3.49% | |
KCPL Greater Missouri Operations [Member] | Senior Notes [Member] | Senior Notes Series B due 2033 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 75 | 75 |
Debt Instrument, Maturity Date | Dec. 31, 2033 | |
Interest rates (in hundredths) | 4.06% | |
KCPL Greater Missouri Operations [Member] | Senior Notes [Member] | Senior Notes Series C due 2043 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 150 | 150 |
Debt Instrument, Maturity Date | Dec. 31, 2043 | |
Interest rates (in hundredths) | 4.74% | |
KCPL Greater Missouri Operations [Member] | Medium-term Notes [Member] | Medium term notes 7.33 percent series due 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 3 | 3 |
Debt Instrument, Maturity Date | Dec. 31, 2023 | |
Interest rates (in hundredths) | 7.33% | |
KCPL Greater Missouri Operations [Member] | Medium-term Notes [Member] | Medium term notes 7.17 percent series due 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 7 | 7 |
Debt Instrument, Maturity Date | Dec. 31, 2023 | |
Interest rates (in hundredths) | 7.17% | |
Parent Company [Member] | Senior Notes [Member] | Senior notes due 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 100 | 100 |
Debt Instrument, Maturity Date | Dec. 31, 2017 | |
Interest rates (in hundredths) | 6.875% | |
Rate after amortizing gains or losses in Other Comprehensive Income (in hundredths) | 7.33% | |
Parent Company [Member] | Senior Notes [Member] | Senior Notes Due 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 350 | 350 |
Debt Instrument, Maturity Date | Dec. 31, 2021 | |
Interest rates (in hundredths) | 4.85% | |
Parent Company [Member] | Senior Notes [Member] | Senior Notes Due 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Principal outstanding | $ 287.5 | 287.5 |
Debt Instrument, Maturity Date | Dec. 31, 2022 | |
Interest rates (in hundredths) | 5.292% | |
Other Consolidated Entities [Member] | ||
Debt Instrument [Line Items] | ||
Current maturities | $ (1.1) | (1.1) |
Unamortized discount and premium, net and debt issuance costs | $ (2) | $ (2.1) |
Commitments and Contingencies E
Commitments and Contingencies Environmental Matters (Details) T in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2016USD ($)TMW | Dec. 31, 2015USD ($) | |
Estimated Environmental Capital Expenditures [Abstract] | ||
Estimate Of Environmental Capital Expenditures Current | $ 99.6 | |
Estimate Of Environmental Capital Expenditures In Two Years | 45.5 | |
Estimate Of Environmental Capital Expenditures In Three Years | 20.6 | |
Estimate Of Environmental Capital Expenditures In Four Years | 98.9 | |
Estimate Of Environmental Capital Expenditures In Five Years | $ 151.9 | |
Mercury and Air Toxics Standards Rule [Abstract] | ||
Capacity of electric steam generating units that fall under MACT standards (in megawatts) | MW | 25 | |
Climate Change [Abstract] | ||
CO2 produced per year (in millions of tons) | T | 21 | |
EPA nationwide CO2 emission reductions by 2030 | 32.00% | |
Remediation [Abstract] | ||
Accrued environmental remediation expenses | $ 1.4 | $ 1.4 |
MISSOURI | ||
Climate Change [Abstract] | ||
EPA Interim Co2 Goal Rate Reduction | 26.00% | |
EPA Co2 Emission Reductions By 2030 By State | 37.00% | |
KANSAS | ||
Climate Change [Abstract] | ||
EPA Interim Co2 Goal Rate Reduction | 34.00% | |
EPA Co2 Emission Reductions By 2030 By State | 44.00% | |
Kansas City Power and Light Company [Member] | ||
Estimated Environmental Capital Expenditures [Abstract] | ||
Estimate Of Environmental Capital Expenditures Current | $ 83.8 | |
Estimate Of Environmental Capital Expenditures In Two Years | 30.1 | |
Estimate Of Environmental Capital Expenditures In Three Years | 14.4 | |
Estimate Of Environmental Capital Expenditures In Four Years | 87.3 | |
Estimate Of Environmental Capital Expenditures In Five Years | $ 130 | |
Climate Change [Abstract] | ||
CO2 produced per year (in millions of tons) | T | 15 | |
Remediation [Abstract] | ||
Accrued environmental remediation expenses | $ 0.3 | $ 0.3 |
KCPL Greater Missouri Operations [Member] | ||
Remediation [Abstract] | ||
Estimated amount of insurance proceeds available to cover qualified remediation expenses | $ 1.4 |
Legal Proceedings Loss Continge
Legal Proceedings Loss Contingencies (Details) - MPS Merchant Services, Inc. [Member] $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Loss Contingencies [Line Items] | |
Approximate amount of refunds received as a net purchaser of power through settlements with sellers of power | $ 8 |
Estimated additional refunds entitled to receive | $ 12 |
Loss Contingency, Inestimable Loss | Due to the uncertainties remaining in the case, the loss or range of loss cannot be reasonably estimated |
Related Party Transactions an56
Related Party Transactions and Relationships (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Kansas City Power and Light Company [Member] | Money Pool [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Due from (to) Related Party, Current | $ 0 | $ 0 | |
Kansas City Power and Light Company [Member] | KCPL Greater Missouri Operations [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Due from (to) Related Party, Current | 39,700,000 | 50,000,000 | |
Kansas City Power and Light Company [Member] | KCPL Greater Missouri Operations [Member] | Operating Expenses and Capital Costs Billed [Member] | |||
Related Party Transaction [Line Items] | |||
Operating expenses and capital costs billed from KCPL to GMO | 47,200,000 | $ 46,000,000 | |
Kansas City Power and Light Company [Member] | Great Plains Energy [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Due from (to) Related Party, Current | $ 17,700,000 | $ 15,800,000 | |
Iatan No 1 And 2 [Member] | KCPL Greater Missouri Operations [Member] | |||
Related Party Transaction [Line Items] | |||
Jointly Owned Utility Plant, Proportionate Ownership Share | 18.00% |
Derivative Instruments (Details
Derivative Instruments (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Futures contracts [Member] | Not Designated as Hedging Instrument [Member] | ||
Price Risk Derivatives [Abstract] | ||
Notional Contract Amount | $ 30.9 | $ 26.6 |
Fair Value | (5.3) | (5.7) |
Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | ||
Price Risk Derivatives [Abstract] | ||
Notional Contract Amount | 13.2 | 15.6 |
Fair Value | 2.9 | 3.1 |
Transmission Congestion Rights [Member] | Not Designated as Hedging Instrument [Member] | ||
Price Risk Derivatives [Abstract] | ||
Notional Contract Amount | 2.3 | 5.6 |
Fair Value | (0.2) | (0.5) |
Kansas City Power and Light Company [Member] | Futures contracts [Member] | Not Designated as Hedging Instrument [Member] | ||
Price Risk Derivatives [Abstract] | ||
Notional Contract Amount | 1.5 | 0.9 |
Fair Value | (0.2) | (0.1) |
Kansas City Power and Light Company [Member] | Transmission Congestion Rights [Member] | Not Designated as Hedging Instrument [Member] | ||
Price Risk Derivatives [Abstract] | ||
Notional Contract Amount | 1.7 | 4.1 |
Fair Value | $ (0.1) | $ (0.4) |
KCPL Greater Missouri Operations [Member] | ||
Price Risk Derivatives [Abstract] | ||
Percentage of expected on peak natural gas and natural gas equivalent purchased power price exposure hedged remainder of fiscal year | 61.00% | |
Percentage of expected on peak natural gas and natural gas equivalent purchased power price exposure hedged year two | 35.00% | |
Percentage of expected on peak natural gas and natural gas equivalent purchased power price exposure hedged year three | 11.00% |
Derivative Instruments Cash Flo
Derivative Instruments Cash Flow Hedge (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Derivative [Line Items] | |
Cash Flow Hedge Loss to be Reclassified within Twelve Months | $ 9.2 |
Kansas City Power and Light Company [Member] | |
Derivative [Line Items] | |
Cash Flow Hedge Loss to be Reclassified within Twelve Months | $ 8.8 |
Derivative Instruments Offsetti
Derivative Instruments Offsetting Assets (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Offsetting Assets [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | $ 3.4 | $ 3.3 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (0.5) | (0.2) |
Derivative Asset | 2.9 | 3.1 |
Derivative, Collateral, Obligation to Return Securities | 0 | 0 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 2.9 | 3.1 |
Kansas City Power and Light Company [Member] | ||
Offsetting Assets [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 0.2 | 0.2 |
Derivative Asset, Fair Value, Gross Liability and Obligation to Return Cash, Offset | (0.2) | (0.2) |
Derivative Asset | 0 | 0 |
Derivative, Collateral, Obligation to Return Securities | 0 | 0 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative Asset, Fair Value, Amount Offset Against Collateral | $ 0 | $ 0 |
Derivative Instruments Offset60
Derivative Instruments Offsetting Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | $ 6 | $ 6.4 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (5.8) | (5.9) |
Derivative Liability | 0.2 | 0.5 |
Derivative, Collateral, Right to Reclaim Securities | 0 | 0 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 0.2 | 0.5 |
Cash collateral posted with counterparties | 5.4 | 5.7 |
Kansas City Power and Light Company [Member] | ||
Offsetting Liabilities [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 0.5 | 0.7 |
Derivative Liability, Fair Value, Gross Asset and Right to Reclaim Cash, Offset | (0.4) | (0.3) |
Derivative Liability | 0.1 | 0.4 |
Derivative, Collateral, Right to Reclaim Securities | 0 | 0 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Derivative Liability, Fair Value, Amount Offset Against Collateral | $ 0.1 | $ 0.4 |
Derivative Instruments Fair Val
Derivative Instruments Fair Value (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | $ 3.4 | $ 3.3 |
Derivative Liability, Fair Value, Gross Liability | 6 | 6.4 |
Kansas City Power and Light Company [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 0.2 | 0.2 |
Derivative Liability, Fair Value, Gross Liability | 0.5 | 0.7 |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Balance Sheet Location [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 3.4 | 3.3 |
Derivative Liability, Fair Value, Gross Liability | 6 | 6.4 |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Balance Sheet Location [Member] | Kansas City Power and Light Company [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 0.2 | 0.2 |
Derivative Liability, Fair Value, Gross Liability | $ 0.5 | $ 0.7 |
Derivative Instruments Gain and
Derivative Instruments Gain and Losses (Details) - Not Designated as Hedging Instrument [Member] - Commodity Contract [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (losses) reflected in the income statement or regulatory account for changes in fair value of commodity contracts not designated as hedging | $ (8.7) | $ (12.1) |
Regulatory Asset [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of gain (loss) recognized in regulatory account for changes in fair value of commodity contracts not designated as hedging | (6.2) | (6.3) |
Kansas City Power and Light Company [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (losses) reflected in the income statement or regulatory account for changes in fair value of commodity contracts not designated as hedging | (0.2) | (6.4) |
Kansas City Power and Light Company [Member] | Regulatory Asset [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of gain (loss) recognized in regulatory account for changes in fair value of commodity contracts not designated as hedging | (0.2) | (1.4) |
Purchased Power Costs [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (losses) reflected in the income statement for changes in fair value of commodity contracts not designated as hedging | (0.2) | (0.1) |
Fuel Costs [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (losses) reflected in the income statement for changes in fair value of commodity contracts not designated as hedging | (1.9) | (0.5) |
Fuel Costs [Member] | Kansas City Power and Light Company [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (losses) reflected in the income statement for changes in fair value of commodity contracts not designated as hedging | 0.4 | 0.2 |
Electric Revenues [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (losses) reflected in the income statement for changes in fair value of commodity contracts not designated as hedging | (0.4) | (5.2) |
Electric Revenues [Member] | Kansas City Power and Light Company [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gains (losses) reflected in the income statement for changes in fair value of commodity contracts not designated as hedging | $ (0.4) | $ (5.2) |
Fair Value Measurements Level 3
Fair Value Measurements Level 3 (Details) - Derivative Financial Instruments, Assets [Member] - Fair Value, Inputs, Level 3 [Member] - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Net asset (liability) at January 1 | $ (0.1) | $ 3.5 |
Purchases | (0.3) | 0.2 |
Settlements | (0.1) | 0.3 |
Net asset (liability) at March 31 | 0.1 | (1.2) |
Purchased Power Costs [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | (0.2) | (0.1) |
Non-Operating Income [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | 1.2 | 2.1 |
Total unrealized gains and (losses) relating to assets and liabilities still on the consolidated balance sheet at period end | 0 | (0.1) |
Electric Revenues [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | (0.4) | (5.2) |
Total unrealized gains and (losses) relating to assets and liabilities still on the consolidated balance sheet at period end | 0 | (1.5) |
Regulatory Asset [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Regulatory Account | 0 | (2) |
Total unrealized gains and (losses) relating to assets and liabilities still on the consolidated balance sheet at period end | 0 | (2) |
Kansas City Power and Light Company [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Net asset (liability) at January 1 | (0.4) | 3.1 |
Purchases | (0.3) | (0.4) |
Settlements | 1 | 3.1 |
Net asset (liability) at March 31 | (0.1) | (0.8) |
Kansas City Power and Light Company [Member] | Electric Revenues [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | (0.4) | (5.2) |
Total unrealized gains and (losses) relating to assets and liabilities still on the consolidated balance sheet at period end | 0 | (1.5) |
Kansas City Power and Light Company [Member] | Regulatory Asset [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Regulatory Account | 0 | (1.4) |
Total unrealized gains and (losses) relating to assets and liabilities still on the consolidated balance sheet at period end | $ 0 | $ (1.4) |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value Long-Term Debt (Details) - USD ($) $ in Billions | Mar. 31, 2016 | Dec. 31, 2015 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ||
Fair value of financial instruments [Abstract] | ||
Long-term Debt | $ 3.7 | $ 3.7 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Kansas City Power and Light Company [Member] | ||
Fair value of financial instruments [Abstract] | ||
Long-term Debt | 2.6 | 2.6 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair value of financial instruments [Abstract] | ||
Long-term debt fair value | 4.1 | 4 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Kansas City Power and Light Company [Member] | ||
Fair value of financial instruments [Abstract] | ||
Long-term debt fair value | $ 2.8 | $ 2.8 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Assets [Abstract] | ||
Derivative instruments, assets | $ 3.4 | $ 3.3 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 6 | 6.4 |
Kansas City Power and Light Company [Member] | ||
Assets [Abstract] | ||
Derivative instruments, assets | 0.2 | 0.2 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 0.5 | 0.7 |
Other Great Plains [Member] | Fixed Income Funds [Member] | ||
SERP rabbi trust [Abstract] | ||
Alternative Investments, Fair Value Disclosure | 16.2 | 16.6 |
Fair Value, Measurements, Recurring [Member] | ||
Assets [Abstract] | ||
Derivative instruments, assets | 3.4 | 3.3 |
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 204.8 | 200.7 |
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 14.5 | 13.6 |
SERP rabbi trust [Abstract] | ||
SERP Rabbi Trusts, Fair Value Disclosure | 0.1 | 0.1 |
Total assets | 222.8 | 217.7 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 6 | 6.4 |
Total liabilities | 6 | 6.4 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets [Abstract] | ||
Derivative instruments, assets | 0.3 | 0 |
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 168.7 | 165.4 |
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 9.4 | 6.3 |
SERP rabbi trust [Abstract] | ||
SERP Rabbi Trusts, Fair Value Disclosure | 0.1 | 0.1 |
Total assets | 178.5 | 171.8 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 5.6 | 5.7 |
Total liabilities | 5.6 | 5.7 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets [Abstract] | ||
Derivative instruments, assets | 2.6 | 2.7 |
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 36.1 | 35.3 |
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 5.1 | 7.3 |
SERP rabbi trust [Abstract] | ||
SERP Rabbi Trusts, Fair Value Disclosure | 0 | 0 |
Total assets | 43.8 | 45.3 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets [Abstract] | ||
Derivative instruments, assets | 0.5 | 0.6 |
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 0 | 0 |
SERP rabbi trust [Abstract] | ||
SERP Rabbi Trusts, Fair Value Disclosure | 0 | 0 |
Total assets | 0.5 | 0.6 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 0.4 | 0.7 |
Total liabilities | 0.4 | 0.7 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | ||
Assets [Abstract] | ||
Derivative instruments, assets | 0.2 | 0.2 |
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 204.8 | 200.7 |
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 14.5 | 13.6 |
SERP rabbi trust [Abstract] | ||
Total assets | 219.5 | 214.5 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 0.5 | 0.7 |
Total liabilities | 0.5 | 0.7 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Equity Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 137.1 | 135.4 |
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 0.8 | 1.1 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Debt Securities [Member] | ||
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 5.1 | 7.3 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | US Treasury and Government [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 29.2 | 26.4 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | US Government Corporations and Agencies Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 1.8 | 1.8 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 3.2 | 4 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Corporate Debt Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 30.8 | 29.2 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Foreign Government Debt Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0.3 | 0.3 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Cash Equivalents [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 2.4 | 3.6 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Cash and Cash Equivalents [Member] | ||
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 8.6 | 5.2 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets [Abstract] | ||
Derivative instruments, assets | 0 | 0 |
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 168.7 | 165.4 |
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 9.4 | 6.3 |
SERP rabbi trust [Abstract] | ||
Total assets | 178.1 | 171.7 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 0.2 | 0.1 |
Total liabilities | 0.2 | 0.1 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 137.1 | 135.4 |
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 0.8 | 1.1 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | ||
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury and Government [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 29.2 | 26.4 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Corporations and Agencies Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign Government Debt Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 2.4 | 3.6 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member] | ||
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 8.6 | 5.2 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets [Abstract] | ||
Derivative instruments, assets | 0 | 0 |
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 36.1 | 35.3 |
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 5.1 | 7.3 |
SERP rabbi trust [Abstract] | ||
Total assets | 41.2 | 42.6 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | ||
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 5.1 | 7.3 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury and Government [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Corporations and Agencies Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 1.8 | 1.8 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 3.2 | 4 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 30.8 | 29.2 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Government Debt Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0.3 | 0.3 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents [Member] | ||
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets [Abstract] | ||
Derivative instruments, assets | 0.2 | 0.2 |
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 0 | 0 |
SERP rabbi trust [Abstract] | ||
Total assets | 0.2 | 0.2 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 0.3 | 0.6 |
Total liabilities | 0.3 | 0.6 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | ||
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury and Government [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 3 [Member] | US Government Corporations and Agencies Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign Government Debt Securities [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member] | ||
Nuclear decommissioning trust [Abstract] | ||
Decommissioning Fund Investments, Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Kansas City Power and Light Company [Member] | Fair Value, Inputs, Level 3 [Member] | Cash and Cash Equivalents [Member] | ||
Self-insured health plan trust [Abstract] | ||
Self Insured Health Plan Trust Fair Value Disclosure | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Other Great Plains [Member] | ||
Assets [Abstract] | ||
Derivative instruments, assets | 3.2 | 3.1 |
SERP rabbi trust [Abstract] | ||
SERP Rabbi Trusts, Fair Value Disclosure | 0.1 | 0.1 |
Total assets | 3.3 | 3.2 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 5.5 | 5.7 |
Total liabilities | 5.5 | 5.7 |
Fair Value, Measurements, Recurring [Member] | Other Great Plains [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets [Abstract] | ||
Derivative instruments, assets | 0.3 | 0 |
SERP rabbi trust [Abstract] | ||
SERP Rabbi Trusts, Fair Value Disclosure | 0.1 | 0.1 |
Total assets | 0.4 | 0.1 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 5.4 | 5.6 |
Total liabilities | 5.4 | 5.6 |
Fair Value, Measurements, Recurring [Member] | Other Great Plains [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets [Abstract] | ||
Derivative instruments, assets | 2.6 | 2.7 |
SERP rabbi trust [Abstract] | ||
SERP Rabbi Trusts, Fair Value Disclosure | 0 | 0 |
Total assets | 2.6 | 2.7 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Other Great Plains [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets [Abstract] | ||
Derivative instruments, assets | 0.3 | 0.4 |
SERP rabbi trust [Abstract] | ||
SERP Rabbi Trusts, Fair Value Disclosure | 0 | 0 |
Total assets | 0.3 | 0.4 |
Liabilities [Abstract] | ||
Derivative instruments, liabilities | 0.1 | 0.1 |
Total liabilities | $ 0.1 | $ 0.1 |
Accumulated Other Comprehensi66
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | $ (12) | $ (18.7) |
Amounts reclassified from accumulated other comprehensive loss | 1.5 | 1.5 |
Net current period other comprehensive income | 1.5 | 1.5 |
Ending balance | (10.5) | (17.2) |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (10.1) | (15.8) |
Amounts reclassified from accumulated other comprehensive loss | 1.4 | 1.4 |
Net current period other comprehensive income | 1.4 | 1.4 |
Ending balance | (8.7) | (14.4) |
Accumulated Defined Benefit Plans Adjustment [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (1.9) | (2.9) |
Amounts reclassified from accumulated other comprehensive loss | 0.1 | 0.1 |
Net current period other comprehensive income | 0.1 | 0.1 |
Ending balance | (1.8) | (2.8) |
Kansas City Power and Light Company [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (9.6) | |
Net current period other comprehensive income | 1.4 | 1.4 |
Ending balance | (8.2) | |
Kansas City Power and Light Company [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (9.6) | (14.9) |
Amounts reclassified from accumulated other comprehensive loss | 1.4 | 1.4 |
Net current period other comprehensive income | 1.4 | 1.4 |
Ending balance | $ (8.2) | $ (13.5) |
Accumulated Other Comprehensi67
Accumulated Other Comprehensive Income (Loss) Reclassification (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Interest charges | $ (51.2) | $ (47.3) |
Fuel | (90.6) | (107.6) |
Utility operating and maintenance expenses | (179.4) | (171.5) |
Income before income tax expense and income from equity investments | 37.4 | 25.1 |
Income tax benefit | (11.7) | (6.5) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Net income | (1.5) | (1.5) |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Income before income tax expense and income from equity investments | (2.3) | (2.3) |
Income tax benefit | 0.9 | 0.9 |
Net income | (1.4) | (1.4) |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Interest Rate Contract [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Interest charges | (2.3) | (2.3) |
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Utility operating and maintenance expenses | (0.2) | (0.2) |
Income before income tax expense and income from equity investments | (0.2) | (0.2) |
Income tax benefit | 0.1 | 0.1 |
Net income | (0.1) | (0.1) |
Kansas City Power and Light Company [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Interest charges | (35.3) | (31.5) |
Fuel | (61.5) | (74.8) |
Utility operating and maintenance expenses | (123.7) | (118.3) |
Income before income tax expense and income from equity investments | 35.3 | 16.5 |
Income tax benefit | (10.7) | (3.3) |
Kansas City Power and Light Company [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Income before income tax expense and income from equity investments | (2.3) | (2.3) |
Income tax benefit | 0.9 | 0.9 |
Net income | (1.4) | (1.4) |
Kansas City Power and Light Company [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Interest Rate Contract [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Interest charges | $ (2.3) | $ (2.3) |
Income Tax Expense (Details)
Income Tax Expense (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Current income taxes | ||
Federal | $ (0.1) | $ 0.5 |
State | 0.2 | (0.1) |
Total | 0.1 | 0.4 |
Deferred income taxes | ||
Federal | 9.7 | 5.1 |
State | 2.3 | 1.4 |
Total | 12 | 6.5 |
Investment tax credit | ||
Investment tax credit amortization | (0.4) | (0.4) |
Total income tax expense | $ 11.7 | $ 6.5 |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||
Federal statutory income tax (in hundredths) | 35.00% | 35.00% |
Differences between book and tax depreciation not normalized (in hundredths) | 0.50% | (0.70%) |
Amortization of investments tax credits (in hundredths) | (0.90%) | (1.40%) |
Federal income tax credits (in hundredths) | (8.00%) | (10.00%) |
State income taxes (in hundredths) | 4.20% | 3.30% |
Other (in hundredths) | 0.00% | (0.70%) |
Effective income tax rate (in hundredths) | 30.80% | 25.50% |
Kansas City Power and Light Company [Member] | ||
Current income taxes | ||
Federal | $ 0.4 | $ (5.7) |
State | 0.1 | (1.1) |
Total | 0.5 | (6.8) |
Deferred income taxes | ||
Federal | 8.4 | 8.3 |
State | 2 | 2 |
Total | 10.4 | 10.3 |
Investment tax credit | ||
Investment tax credit amortization | (0.2) | (0.2) |
Total income tax expense | $ 10.7 | $ 3.3 |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||
Federal statutory income tax (in hundredths) | 35.00% | 35.00% |
Differences between book and tax depreciation not normalized (in hundredths) | 0.40% | (0.50%) |
Amortization of investments tax credits (in hundredths) | (0.70%) | (1.60%) |
Federal income tax credits (in hundredths) | (7.80%) | (15.20%) |
State income taxes (in hundredths) | 3.90% | 3.70% |
Other (in hundredths) | (0.50%) | (1.70%) |
Effective income tax rate (in hundredths) | 30.30% | 19.70% |
Segments and Related Informat69
Segments and Related Information (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Operating revenues | $ 572.1 | $ 549.1 | |
Depreciation and amortization | (85.2) | (79.8) | |
Interest (charges) income | (51.2) | (47.3) | |
Income tax (expense) benefit | (11.7) | (6.5) | |
Net income (loss) | 26.4 | 18.9 | |
Assets | 10,743.1 | $ 10,738.6 | |
Capital expenditures | 133.6 | 217.9 | 677.1 |
Operating Segments [Member] | Electric Utility Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 572.1 | 549.1 | |
Depreciation and amortization | (85.2) | (79.8) | |
Interest (charges) income | (49.1) | (45.3) | |
Income tax (expense) benefit | (13.1) | (7.9) | |
Net income (loss) | 29 | 20.9 | |
Assets | 11,090.6 | 11,045.5 | |
Capital expenditures | 133.6 | 677.1 | |
Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 0 | 0 | |
Depreciation and amortization | 0 | 0 | |
Interest (charges) income | (10.1) | (10) | |
Income tax (expense) benefit | 1.4 | 1.4 | |
Net income (loss) | (2.6) | (2) | |
Assets | 48.3 | (51.1) | |
Capital expenditures | 0 | 0 | |
Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating revenues | 0 | 0 | |
Depreciation and amortization | 0 | 0 | |
Interest (charges) income | 8 | 8 | |
Income tax (expense) benefit | 0 | 0 | |
Net income (loss) | 0 | $ 0 | |
Assets | (395.8) | (255.8) | |
Capital expenditures | $ 0 | $ 0 |