Evergy Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
View on SEC.govAbout this filing
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
Taxes
- TAXES
Components of income tax expense are detailed in the following tables.
| Evergy | ||
|---|---|---|
| Three Months Ended March 31 | 2024 | 2023 |
| Current income taxes · (millions) | ||
| Federal | $10.2 | $5.0 |
| State | 8.1 | 4.7 |
| Total | 18.3 | 9.7 |
| Deferred income taxes | ||
| Federal | (2.5) | 7.7 |
| State | (6.7) | (3.3) |
| Total | (9.2) | 4.4 |
| Investment tax credit amortization | (1.8) | (1.7) |
| Income tax expense | $7.3 | $12.4 |
| Evergy Kansas Central | ||
|---|---|---|
| Three Months Ended March 31 | 2024 | 2023 |
| Current income taxes · (millions) | ||
| Federal | $4.3 | $18.1 |
| State | 3.1 | 2.0 |
| Total | 7.4 | 20.1 |
| Deferred income taxes | ||
| Federal | (2.5) | (10.0) |
| State | (1.8) | (0.7) |
| Total | (4.3) | (10.7) |
| Investment tax credit amortization | (1.0) | (1.0) |
| Income tax expense | $2.1 | $8.4 |
| Evergy Metro | ||
|---|---|---|
| Three Months Ended March 31 | 2024 | 2023 |
| Current income taxes · (millions) | ||
| Federal | $2.0 | $(5.1) |
| State | 3.3 | 1.6 |
| Total | 5.3 | (3.5) |
| Deferred income taxes | ||
| Federal | 4.8 | 12.4 |
| State | (2.9) | (1.2) |
| Total | 1.9 | 11.2 |
| Investment tax credit amortization | (0.8) | (0.8) |
| Income tax expense | $6.4 | $6.9 |
Effective Income Tax Rates
Effective income tax rates reflected in the financial statements and the reasons for their differences from the statutory federal rates are detailed in the following tables.
| Evergy | ||
|---|---|---|
| Three Months Ended March 31 | 2024 | 2023 |
| Federal statutory income tax | 21.0% | 21.0% |
| COLI policies | (1.2) | (1.4) |
| State income taxes | 0.6 | 0.6 |
| Flow through depreciation for plant-related differences | (8.3) | (7.7) |
| Federal tax credits | (6.6) | (3.5) |
| Non-controlling interest | (0.3) | (0.3) |
| AFUDC equity | (0.3) | (0.6) |
| Amortization of federal investment tax credits | (0.6) | (0.6) |
| Stock compensation | 0.4 | 0.1 |
| Officer compensation limitation | 0.8 | 0.2 |
| Other | 0.1 | 0.1 |
| Effective income tax rate | 5.6% | 7.9% |
| Evergy Kansas Central | ||
|---|---|---|
| Three Months Ended March 31 | 2024 | 2023 |
| Federal statutory income tax | 21.0% | 21.0% |
| COLI policies | (2.0) | (2.4) |
| State income taxes | 0.6 | 0.7 |
| Flow through depreciation for plant-related differences | (5.4) | (4.0) |
| Federal tax credits | (10.9) | (6.3) |
| Non-controlling interest | (0.5) | (0.5) |
| AFUDC equity | (0.5) | (0.5) |
| Amortization of federal investment tax credits | (0.4) | (0.4) |
| Stock compensation | (0.1) | (0.2) |
| Other | 0.1 | — |
| Effective income tax rate | 1.9% | 7.4% |
| Evergy Metro | ||
|---|---|---|
| Three Months Ended March 31 | 2024 | 2023 |
| Federal statutory income tax | 21.0% | 21.0% |
| COLI policies | (0.1) | (0.1) |
| State income taxes | 0.9 | 0.6 |
| Flow through depreciation for plant-related differences | (7.7) | (8.1) |
| Federal tax credits | (0.6) | (0.2) |
| AFUDC equity | — | (0.9) |
| Amortization of federal investment tax credits | (0.9) | (0.9) |
| Stock compensation | 1.9 | 1.0 |
| Officer compensation limitation | 1.9 | 0.6 |
| Other | — | (0.1) |
| Effective income tax rate | 16.4% | 12.9% |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.