Evergy Inc

For the period ended Mar 31, 2024. Filed May 9, 2024.

About 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

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 exhibits

Contents

Unaudited Consolidated Statements of Comprehensive Income

EVERGY, INC.
Consolidated Statements of Comprehensive Income
(Unaudited)
Three Months Ended March 31	2024	2023
(millions, except per share amounts)
OPERATING REVENUES	$1,331.0	$1,296.8
OPERATING EXPENSES:
Fuel and purchased power	376.4	354.2
SPP network transmission costs	72.7	81.2
Operating and maintenance	231.5	216.3
Depreciation and amortization	276.1	263.4
Taxes other than income tax	114.1	102.4
Total Operating Expenses	1,070.8	1,017.5
INCOME FROM OPERATIONS	260.2	279.3
OTHER INCOME (EXPENSE):
Investment earnings	5.3	9.1
Other income	8.5	12.2
Other expense	(9.5)	(21.3)
Total Other Income, Net	4.3	—
Interest expense	133.2	123.1
INCOME BEFORE INCOME TAXES	131.3	156.2
Income tax expense	7.3	12.4
Equity in earnings of equity method investees, net of income taxes	1.8	1.9
NET INCOME	125.8	145.7
Less: Net income attributable to noncontrolling interests	3.1	3.1
NET INCOME ATTRIBUTABLE TO EVERGY, INC.	$122.7	$142.6
BASIC AND DILUTED EARNINGS PER AVERAGE COMMON SHARE OUTSTANDING ATTRIBUTABLE TO EVERGY, INC. (see Note 1)
Basic earnings per common share	$0.53	$0.62
Diluted earnings per common share	$0.53	$0.62
AVERAGE COMMON SHARES OUTSTANDING
Basic	230.2	230.0
Diluted	230.4	230.3
COMPREHENSIVE INCOME
NET INCOME	$125.8	$145.7
Derivative hedging activity
Reclassification to expenses, net of tax	1.3	1.3
Derivative hedging activity, net of tax	1.3	1.3
Total other comprehensive income	1.3	1.3
COMPREHENSIVE INCOME	127.1	147.0
Less: Comprehensive income attributable to noncontrolling interest	3.1	3.1
COMPREHENSIVE INCOME ATTRIBUTABLE TO EVERGY, INC.	$124.0	$143.9

EVERGY, INC.
Consolidated Statements of Cash Flows
(Unaudited)
Three Months Ended March 31	2024	2023
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES: · (millions)
Net income	$125.8	$145.7
Adjustments to reconcile income to net cash from operating activities:
Depreciation and amortization	276.1	263.4
Amortization of nuclear fuel	15.7	15.1
Amortization of deferred refueling outage	4.6	4.6
Amortization of corporate-owned life insurance	7.5	7.0
Stock compensation	3.9	4.8
Net deferred income taxes and credits	(11.0)	2.7
Allowance for equity funds used during construction	(3.2)	(2.7)
Payments for asset retirement obligations	(4.4)	(2.6)
Equity in earnings of equity method investees, net of income taxes	(1.8)	(1.9)
Income from corporate-owned life insurance	(7.5)	(8.6)
Other	0.3	0.3
Changes in working capital items:
Accounts receivable	66.2	93.5
Accounts receivable pledged as collateral	(20.0)	(6.0)
Fuel inventory and supplies	(24.4)	(51.0)
Prepaid expenses and other current assets	(20.2)	0.3
Accounts payable	(152.9)	(197.8)
Accrued taxes	119.3	107.8
Other current liabilities	(37.1)	(3.2)
Changes in other assets	(10.4)	0.4
Changes in other liabilities	(9.2)	(8.9)
Cash Flows from Operating Activities	317.3	362.9
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Additions to property, plant and equipment	(618.6)	(527.7)
Purchase of securities - trusts	(19.5)	(11.0)
Sale of securities - trusts	14.8	7.6
Investment in corporate-owned life insurance	(4.1)	(3.8)
Proceeds from investment in corporate-owned life insurance	41.5	42.1
Other investing activities	2.7	(4.1)
Cash Flows used in Investing Activities	(583.2)	(496.9)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Short-term debt, net	139.7	214.2
Collateralized short-term borrowings, net	20.0	6.0
Proceeds from long-term debt	326.1	393.7
Retirements of long-term debt	—	(300.0)
Borrowings against cash surrender value of corporate-owned life insurance	0.6	0.6
Repayment of borrowings against cash surrender value of corporate-owned life insurance	(29.4)	(32.5)
Cash dividends paid	(147.7)	(140.7)
Other financing activities	(5.7)	(4.1)
Cash Flows from Financing Activities	303.6	137.2
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	37.7	3.2
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period	27.7	25.2
End of period	$65.4	$28.4

EVERGY, INC.
Consolidated Statements of Changes in Equity
(Unaudited)
	Evergy, Inc. Shareholders
	Common stock shares	Common stock	Retained earnings	AOCI	Non-controlling interests	Total equity
(millions, except share amounts)
Balance as of December 31, 2022	229,546,105	$7,219.7	$2,298.5	$(34.5)	$9.6	$9,493.3
Net income	—	—	142.6	—	3.1	145.7
Issuance of stock compensation and reinvested dividends, net of tax withholding	130,594	(2.4)	—	—	—	(2.4)
Dividends declared on common stock ($0.6125 per share)	—	—	(140.7)	—	—	(140.7)
Dividend equivalents declared	—	—	(0.4)	—	—	(0.4)
Stock compensation expense	—	4.7	—	—	—	4.7
Unearned compensation
Compensation expense recognized	—	0.1	—	—	—	0.1
Derivative hedging activity, net of tax	—	—	—	1.3	—	1.3
Other	—	0.1	—	—	—	0.1
Balance as of March 31, 2023	229,676,699	$7,222.2	$2,300.0	$(33.2)	$12.7	$9,501.7

Balance as of December 31, 2023	229,729,296	$7,234.9	$2,457.8	$(29.6)	$21.9	$9,685.0
Net income	—	—	122.7	—	3.1	125.8
Issuance of stock compensation and reinvested dividends, net of tax withholding	193,042	(4.0)	—	—	—	(4.0)
Dividends declared on common stock ($0.6425 per share)	—	—	(147.7)	—	—	(147.7)
Dividend equivalents declared	—	—	(0.4)	—	—	(0.4)
Stock compensation expense	—	3.9	—	—	—	3.9
Derivative hedging activity, net of tax	—	—	—	1.3	—	1.3
Other	—	0.2	—	—	—	0.2
Balance as of March 31, 2024	229,922,338	$7,235.0	$2,432.4	$(28.3)	$25.0	$9,664.1

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.