Evergy Inc
For the period ended Mar 31, 2025. Filed May 8, 2025.
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Mar 31, 2025 · Filed May 8, 2025
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Receivables
- RECEIVABLES
The Evergy Companies' receivables are detailed in the following table.
| March 31 | December 31 | |
|---|---|---|
| 2025 | 2024 | |
| Evergy · (millions) | ||
| Customer accounts receivable - billed | $8.7 | $2.7 |
| Customer accounts receivable - unbilled | 67.6 | 108.4 |
| Other receivables | 132.9 | 150.0 |
| Allowance for credit losses | (11.2) | (15.7) |
| Total | $198.0 | $245.4 |
| Evergy Kansas Central | ||
| Customer accounts receivable - unbilled | $20.8 | $36.0 |
| Other receivables | 94.5 | 104.9 |
| Allowance for credit losses | (5.4) | (7.8) |
| Total | $109.9 | $133.1 |
| Evergy Metro | ||
| Customer accounts receivable - unbilled | $17.7 | $28.5 |
| Other receivables | 37.6 | 35.4 |
| Allowance for credit losses | (4.1) | (5.8) |
| Total | $51.2 | $58.1 |
The Evergy Companies' other receivables as of March 31, 2025 and December 31, 2024, consisted primarily of receivables from partners in jointly-owned electric utility plants, wholesale sales receivables and receivables related to alternative revenue programs. The Evergy Companies' other receivables also included receivables from contracts with customers as summarized in the following table.
| March 31 | December 31 | |
|---|---|---|
| 2025 | 2024 | |
| (millions) | ||
| Evergy | $69.7 | $68.9 |
| Evergy Kansas Central | 55.9 | 65.3 |
| Evergy Metro | 7.6 | 2.6 |
The change in the Evergy Companies' allowance for credit losses is summarized in the following table.
| 2025 | 2024 | |
|---|---|---|
| Evergy · (millions) | ||
| Beginning balance January 1 | $15.7 | $24.2 |
| Credit loss expense (income) | 0.3 | (1.1) |
| Write-offs | (7.7) | (7.9) |
| Recoveries of prior write-offs | 2.9 | 3.3 |
| Ending balance March 31 | $11.2 | $18.5 |
| Evergy Kansas Central | ||
| Beginning balance January 1 | $7.8 | $11.6 |
| Credit loss expense (income) | — | (0.4) |
| Write-offs | (3.6) | (3.6) |
| Recoveries of prior write-offs | 1.2 | 1.4 |
| Ending balance March 31 | $5.4 | $9.0 |
| Evergy Metro | ||
| Beginning balance January 1 | $5.8 | $7.9 |
| Write-offs | (2.8) | (2.8) |
| Recoveries of prior write-offs | 1.1 | 1.3 |
| Ending balance March 31 | $4.1 | $6.4 |
Sale of Accounts Receivable
Evergy Kansas Central, Evergy Metro and Evergy Missouri West sell an undivided percentage ownership interest in their retail electric accounts receivable to independent outside investors. These sales are accounted for as secured borrowings with accounts receivable pledged as collateral and a corresponding short-term collateralized note payable recognized on the balance sheets. The Evergy Companies' accounts receivable pledged as collateral and the corresponding short-term collateralized note payable are summarized in the following table.
| March 31 | December 31 | |
|---|---|---|
| 2025 | 2024 | |
| (millions) | ||
| Evergy | $401.0 | $401.0 |
| Evergy Kansas Central | 215.0 | 215.0 |
| Evergy Metro | 136.0 | 136.0 |
In April 2025, Evergy Kansas Central, Evergy Metro and Evergy Missouri West extended the expiration of each receivable sale facility from November 2025 to April 2028. Evergy Kansas Central's facility allows up to $185.0 million in aggregate outstanding principal amount to be borrowed at any time. To the extent Evergy Kansas Central has qualifying accounts receivable and subject to the lender's discretion, Evergy Kansas Central's facility allows for an additional $65.0 million in aggregate outstanding principal amount to be borrowed at any time. Evergy Metro's facility allows up to $130.0 million in aggregate outstanding principal amount to be borrowed at any time. To the extent Evergy Metro has qualifying accounts receivable and subject to the lender's discretion, Evergy Metro's facility allows for an additional $70.0 million in aggregate outstanding principal amount to be borrowed at any time. Evergy Missouri West's facility allows up to $50.0 million in aggregate outstanding principal amount to be borrowed at any time. To the extent Evergy Missouri West has qualifying accounts receivable and subject to the lender's discretion, Evergy Missouri West's facility allows for an additional $65.0 million in aggregate outstanding principal amount to be borrowed at any time.
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