Evergy Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Consolidated Statements of Comprehensive Income
| EVERGY METRO, INC. | ||
|---|---|---|
| Consolidated Statements of Comprehensive Income | ||
| (Unaudited) | ||
| Three Months Ended March 31 | 2024 | 2023 |
| (millions) | ||
| OPERATING REVENUES | $420.9 | $406.4 |
| OPERATING EXPENSES: | ||
| Fuel and purchased power | 136.6 | 115.4 |
| Operating and maintenance | 67.9 | 65.3 |
| Depreciation and amortization | 100.5 | 102.4 |
| Taxes other than income tax | 37.3 | 33.5 |
| Total Operating Expenses | 342.3 | 316.6 |
| INCOME FROM OPERATIONS | 78.6 | 89.8 |
| OTHER INCOME (EXPENSE): | ||
| Investment earnings | 1.6 | 0.7 |
| Other income | 0.1 | 2.8 |
| Other expense | (3.6) | (9.0) |
| Total Other Expense, Net | (1.9) | (5.5) |
| Interest expense | 37.6 | 30.6 |
| INCOME BEFORE INCOME TAXES | 39.1 | 53.7 |
| Income tax expense | 6.4 | 6.9 |
| NET INCOME | $32.7 | $46.8 |
| COMPREHENSIVE INCOME | ||
| NET INCOME | $32.7 | $46.8 |
| OTHER COMPREHENSIVE INCOME: | ||
| Derivative hedging activity | ||
| Reclassification to expenses, net of tax | (0.1) | (0.1) |
| Derivative hedging activity, net of tax | (0.1) | (0.1) |
| Total other comprehensive loss | (0.1) | (0.1) |
| COMPREHENSIVE INCOME | $32.6 | $46.7 |
| EVERGY METRO, INC. | ||
|---|---|---|
| Consolidated Statements of Cash Flows | ||
| (Unaudited) | ||
| Three Months Ended March 31 | 2024 | 2023 |
| CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES: · (millions) | ||
| Net income | $32.7 | $46.8 |
| Adjustments to reconcile income to net cash from operating activities: | ||
| Depreciation and amortization | 100.5 | 102.4 |
| Amortization of nuclear fuel | 7.9 | 7.6 |
| Amortization of deferred refueling outage | 2.3 | 2.3 |
| Net deferred income taxes and credits | 1.1 | 10.4 |
| Allowance for equity funds used during construction | — | (2.3) |
| Payments for asset retirement obligations | (2.0) | (0.5) |
| Other | (0.1) | (0.1) |
| Changes in working capital items: | ||
| Accounts receivable | 29.8 | 22.8 |
| Accounts receivable pledged as collateral | (4.0) | (6.0) |
| Fuel inventory and supplies | (11.4) | (17.5) |
| Prepaid expenses and other current assets | (24.8) | (25.4) |
| Accounts payable | (76.0) | (78.3) |
| Accrued taxes | 41.3 | 30.1 |
| Other current liabilities | 2.3 | 0.7 |
| Changes in other assets | (1.7) | 7.8 |
| Changes in other liabilities | 4.2 | (7.1) |
| Cash Flows from Operating Activities | 102.1 | 93.7 |
| CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: | ||
| Additions to property, plant and equipment | (187.2) | (189.0) |
| Purchase of securities - trusts | (16.3) | (8.2) |
| Sale of securities - trusts | 13.2 | 5.7 |
| Net money pool lending | — | 31.0 |
| Other investing activities | 2.3 | 1.6 |
| Cash Flows used in Investing Activities | (188.0) | (158.9) |
| CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: | ||
| Short-term debt, net | 89.7 | 360.0 |
| Collateralized short-term debt, net | 4.0 | 6.0 |
| Retirements of long-term debt | — | (300.0) |
| Other financing activities | (0.1) | (0.1) |
| Cash Flows from Financing Activities | 93.6 | 65.9 |
| NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 7.7 | 0.7 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH: | ||
| Beginning of period | 3.3 | 3.1 |
| End of period | $11.0 | $3.8 |
| EVERGY METRO, INC | |||||
|---|---|---|---|---|---|
| Consolidated Statements of Changes in Equity | |||||
| (Unaudited) | |||||
| Common stock shares | Common Stock | Retained earnings | AOCI - Net gains (losses) on cash flow hedges | Total equity | |
| (millions, except share amounts) | |||||
| Balance as of December 31, 2022 | 1 | $1,563.1 | $1,619.2 | $4.0 | $3,186.3 |
| Net income | — | — | 46.8 | — | 46.8 |
| Derivative hedging activity, net of tax | — | — | — | (0.1) | (0.1) |
| Balance as of March 31, 2023 | 1 | $1,563.1 | $1,666.0 | $3.9 | $3,233.0 |
| Balance as of December 31, 2023 | 1 | $1,563.1 | $1,626.2 | $3.7 | $3,193.0 |
| Net income | — | — | 32.7 | — | 32.7 |
| Derivative hedging activity, net of tax | — | — | — | (0.1) | (0.1) |
| Balance as of March 31, 2024 | 1 | $1,563.1 | $1,658.9 | $3.6 | $3,225.6 |
EVERGY, INC.
EVERGY KANSAS CENTRAL, INC.
EVERGY METRO, INC.
Combined Notes to Unaudited Consolidated Financial Statements
The notes to unaudited consolidated financial statements that follow are a combined presentation for Evergy, Inc., Evergy Kansas Central, Inc. and Evergy Metro, Inc., all registrants under this filing. The terms "Evergy," "Evergy Kansas Central," "Evergy Metro" and "Evergy Companies" are used throughout this report. "Evergy" refers to Evergy, Inc. and its consolidated subsidiaries, unless otherwise indicated. "Evergy Kansas Central" refers to Evergy Kansas Central, Inc. and its consolidated subsidiaries, unless otherwise indicated. "Evergy Metro" refers to Evergy Metro, Inc. and its consolidated subsidiaries, unless otherwise indicated. "Evergy Companies" refers to Evergy, Evergy Kansas Central and Evergy Metro, collectively, which are individual registrants within the Evergy consolidated group.
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