Evergy Inc
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 29, 2024
EVRG$88.44+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Comprehensive Income
| EVERGY, INC. | |||
|---|---|---|---|
| Consolidated Statements of Comprehensive Income | |||
| Year Ended December 31 | 2023 | 2022 | 2021 |
| (millions, except per share amounts) | |||
| OPERATING REVENUES | $5,508.2 | $5,859.1 | $5,586.7 |
| OPERATING EXPENSES: | |||
| Fuel and purchased power | 1,494.8 | 1,821.2 | 1,557.0 |
| SPP network transmission costs | 302.6 | 323.0 | 290.4 |
| Operating and maintenance | 945.3 | 1,085.3 | 1,107.5 |
| Depreciation and amortization | 1,076.5 | 929.4 | 896.4 |
| Taxes other than income tax | 406.6 | 398.1 | 380.5 |
| Sibley Unit 3 impairment loss and other regulatory disallowances | — | 34.9 | — |
| Total Operating Expenses | 4,225.8 | 4,591.9 | 4,231.8 |
| INCOME FROM OPERATIONS | 1,282.4 | 1,267.2 | 1,354.9 |
| OTHER INCOME (EXPENSE): | |||
| Investment earnings | 29.7 | 9.4 | 59.9 |
| Other income | 40.6 | 29.9 | 46.3 |
| Other expense | (75.1) | (97.3) | (87.4) |
| Total Other Expense, Net | (4.8) | (58.0) | 18.8 |
| Interest expense | 525.8 | 404.0 | 372.6 |
| INCOME BEFORE INCOME TAXES | 751.8 | 805.2 | 1,001.1 |
| Income tax expense | 15.6 | 47.5 | 117.4 |
| Equity in earnings of equity method investees, net of income taxes | 7.4 | 7.3 | 8.2 |
| NET INCOME | 743.6 | 765.0 | 891.9 |
| Less: Net income attributable to noncontrolling interests | 12.3 | 12.3 | 12.2 |
| NET INCOME ATTRIBUTABLE TO EVERGY, INC. | $731.3 | $752.7 | $879.7 |
| BASIC AND DILUTED EARNINGS PER AVERAGE COMMON SHARE OUTSTANDING ATTRIBUTABLE TO EVERGY, INC. (see Note 1) | |||
| Basic earnings per common share | $3.18 | $3.27 | $3.84 |
| Diluted earnings per common share | $3.17 | $3.27 | $3.83 |
| AVERAGE COMMON SHARES OUTSTANDING | |||
| Basic | 230.0 | 229.9 | 229.0 |
| Diluted | 230.5 | 230.3 | 229.6 |
| COMPREHENSIVE INCOME | |||
| NET INCOME | $743.6 | $765.0 | $891.9 |
| Derivative hedging activity | |||
| Reclassification to expenses, net of tax | 5.4 | 5.5 | 5.5 |
| Derivative hedging activity, net of tax | 5.4 | 5.5 | 5.5 |
| Defined benefit pension plans | |||
| Net gain (loss) arising during period | (0.5) | 5.0 | (0.1) |
| Income tax (expense) benefit | 0.1 | (1.2) | — |
| Net gain (loss) arising during period, net of tax | (0.4) | 3.8 | (0.1) |
| Amortization of net (gains) losses included in net periodic benefit costs, net of tax | (0.1) | 0.2 | — |
| Change in unrecognized pension expense, net of tax | (0.5) | 4.0 | (0.1) |
| Total other comprehensive income | 4.9 | 9.5 | 5.4 |
| COMPREHENSIVE INCOME | 748.5 | 774.5 | 897.3 |
| Less: Comprehensive income attributable to noncontrolling interest | 12.3 | 12.3 | 12.2 |
| COMPREHENSIVE INCOME ATTRIBUTABLE TO EVERGY, INC. | $736.2 | $762.2 | $885.1 |
| EVERGY, INC. | ||
|---|---|---|
| Consolidated Balance Sheets | ||
| December 31 | ||
| 2023 | 2022 | |
| ASSETS · (millions, except share amounts) | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $27.7 | $25.2 |
| Receivables, net of allowance for credit losses of $24.2 and $31.4, respectively | 256.9 | 315.3 |
| Accounts receivable pledged as collateral | 342.0 | 359.0 |
| Fuel inventory and supplies | 776.2 | 672.9 |
| Income taxes receivable | 11.5 | 9.3 |
| Regulatory assets | 292.1 | 368.0 |
| Prepaid expenses | 51.3 | 47.8 |
| Other assets | 31.4 | 44.5 |
| Total Current Assets | 1,789.1 | 1,842.0 |
| PROPERTY, PLANT AND EQUIPMENT, NET | 23,595.1 | 22,136.5 |
| PROPERTY, PLANT AND EQUIPMENT OF VARIABLE INTEREST ENTITY, NET | 133.6 | 140.7 |
| OTHER ASSETS: | ||
| Regulatory assets | 1,795.3 | 1,846.3 |
| Nuclear decommissioning trust fund | 766.4 | 653.3 |
| Goodwill | 2,336.6 | 2,336.6 |
| Other | 560.0 | 534.5 |
| Total Other Assets | 5,458.3 | 5,370.7 |
| TOTAL ASSETS | $30,976.1 | $29,489.9 |
| EVERGY, INC. | ||
|---|---|---|
| Consolidated Balance Sheets | ||
| December 31 | ||
| 2023 | 2022 | |
| LIABILITIES AND EQUITY · (millions, except share amounts) | ||
| CURRENT LIABILITIES: | ||
| Current maturities of long-term debt | $800.0 | $439.1 |
| Commercial paper | 951.8 | 1,332.3 |
| Collateralized note payable | 342.0 | 359.0 |
| Accounts payable | 616.9 | 600.8 |
| Accrued taxes | 156.7 | 163.0 |
| Accrued interest | 134.2 | 124.3 |
| Regulatory liabilities | 183.0 | 155.4 |
| Asset retirement obligations | 40.3 | 40.4 |
| Accrued compensation and benefits | 74.5 | 81.1 |
| Other | 213.2 | 198.4 |
| Total Current Liabilities | 3,512.6 | 3,493.8 |
| LONG-TERM LIABILITIES: | ||
| Long-term debt, net | 11,053.3 | 9,905.7 |
| Deferred income taxes | 2,097.9 | 1,996.6 |
| Unamortized investment tax credits | 170.0 | 174.6 |
| Regulatory liabilities | 2,542.5 | 2,566.8 |
| Pension and post-retirement liability | 464.1 | 458.4 |
| Asset retirement obligations | 1,162.8 | 1,112.8 |
| Other | 287.9 | 287.9 |
| Total Long-Term Liabilities | 17,778.5 | 16,502.8 |
| Commitments and Contingencies (Note 15) | ||
| EQUITY: | ||
| Evergy, Inc. Shareholders' Equity: | ||
| Common stock - 600,000,000 shares authorized, without par value 229,729,296 and 229,546,105 shares issued, stated value | 7,234.9 | 7,219.7 |
| Retained earnings | 2,457.8 | 2,298.5 |
| Accumulated other comprehensive loss | (29.6) | (34.5) |
| Total Evergy, Inc. Shareholders' Equity | 9,663.1 | 9,483.7 |
| Noncontrolling Interests | 21.9 | 9.6 |
| Total Equity | 9,685.0 | 9,493.3 |
| TOTAL LIABILITIES AND EQUITY | $30,976.1 | $29,489.9 |
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