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v3.19.1

LEASES (Tables) | 3 Months Ended
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Mar. 31, 2019
Leases [Abstract] |
Schedule of lease expense | The Evergy Companies’ lease expense is detailed in the following table.
Three Months Ended March 31, 2019 |  | Evergy |  | Westar Energy |  | KCP&L
Finance lease costs |  | (millions)
Amortization of right-of-use assets |  | $ | 1.1 |  |  | $ | 1.0 |  |  | $ | — |
Interest on lease liabilities |  | 0.7 |  |  | 0.6 |  |  | — |
Operating lease costs |  | 6.4 |  |  | 3.8 |  |  | 2.3 |
Short-term lease costs |  | 0.8 |  |  | 0.1 |  |  | 0.7 |
Variable lease costs for renewable purchase power agreements |  | 73.9 |  |  | 32.2 |  |  | 29.1 |
Total lease costs |  | $ | 82.9 |  |  | $ | 37.7 |  |  | $ | 32.1 |
Supplemental cash flow information related to the Evergy Companies' leases is detailed in the following table.
Three Months Ended March 31, 2019 | Evergy |  | Westar Energy |  | KCP&L
Cash paid for amounts included in the measurement of lease liabilities: | (millions)
Operating cash flows from operating leases | $ | 5.8 |  |  | $ | 3.4 |  |  | $ | 2.4 |
Operating cash flows from finance leases | 0.7 |  |  | 0.6 |  |  | — |
Financing cash flows from finance leases | 1.1 |  |  | 1.1 |  |  | — |
Right-of-use assets obtained in exchange for new operating lease liabilities | 2.2 |  |  | — |  |  | 2.2 |
Right-of-use assets obtained in exchange for new finance lease liabilities | 2.3 |  |  | 2.3 |  |  | — |
Schedule of payments for finance leases | Payments for finance leases as of March 31, 2019 are detailed in the following table.
|  | Evergy |  | Westar Energy |  | KCP&L
|  | (millions)
April 2019 through December 2019 |  | $ | 5.4 |  |  | $ | 5.1 |  |  | $ | 0.2 |
2020 |  | 7.0 |  |  | 6.6 |  |  | 0.2 |
2021 |  | 6.5 |  |  | 6.0 |  |  | 0.2 |
2022 |  | 5.7 |  |  | 5.2 |  |  | 0.2 |
2023 |  | 4.8 |  |  | 4.4 |  |  | 0.2 |
After 2023 |  | 48.4 |  |  | 46.4 |  |  | 1.0 |
Total finance lease payments |  | 77.8 |  |  | 73.7 |  |  | 2.0 |
Amounts representing imputed interest |  | (27.6 | ) |  | (26.4 | ) |  | (0.6 | )
Present value of lease payments |  | 50.2 |  |  | 47.3 |  |  | 1.4 |
Less: current portion |  | (4.2 | ) |  | (4.0 | ) |  | (0.1 | )
Total long-term obligations under finance leases |  | $ | 46.0 |  |  | $ | 43.3 |  |  | $ | 1.3 |
Weighted-average lease term (years) |  | 15.4 |  |  | 15.8 |  |  | 9.4 |
Weighted-average discount rate |  | 5.7 | % |  | 5.6 | % |  | 7.6 | %
Schedule of future commitments under finance leases | Estimated future commitments under finance leases as of December 31, 2018 are detailed in the following table.
|  | Evergy |  | Westar Energy |  | KCP&L
|  | (millions)
2019 |  | $ | 6.4 |  |  | $ | 6.0 |  |  | $ | 0.2 |
2020 |  | 5.8 |  |  | 5.4 |  |  | 0.2 |
2021 |  | 5.3 |  |  | 4.9 |  |  | 0.2 |
2022 |  | 4.7 |  |  | 4.3 |  |  | 0.2 |
2023 |  | 4.0 |  |  | 3.6 |  |  | 0.2 |
After 2023 |  | 48.6 |  |  | 46.4 |  |  | 1.1 |
Total finance lease payments |  | 74.8 |  |  | 70.6 |  |  | 2.1 |
Amounts representing imputed interest |  | (25.8 | ) |  | (24.6 | ) |  | (0.6 | )
Present value of net minimum lease payments under finance leases |  | 49.0 |  |  | 46.0 |  |  | 1.5 |
Less: current portion |  | (3.9 | ) |  | (3.7 | ) |  | (0.1 | )
Total long-term obligations under finance leases |  | $ | 45.1 |  |  | $ | 42.3 |  |  | $ | 1.4 |
Schedule of lease payments for operating leases | Lease payments for operating leases as of March 31, 2019 are detailed in the following table.
|  | Evergy |  | Westar Energy |  | KCP&L
|  | (millions)
April 2019 through December 2019 |  | $ | 15.6 |  |  | $ | 9.5 |  |  | $ | 7.6 |
2020 |  | 18.7 |  |  | 10.2 |  |  | 10.6 |
2021 |  | 15.3 |  |  | 7.3 |  |  | 10.1 |
2022 |  | 12.4 |  |  | 5.1 |  |  | 9.3 |
2023 |  | 9.4 |  |  | 2.6 |  |  | 8.8 |
After 2023 |  | 52.4 |  |  | 2.8 |  |  | 91.3 |
Total operating lease payments |  | 123.8 |  |  | 37.5 |  |  | 137.7 |
Amounts representing imputed interest |  | (20.8 | ) |  | (2.7 | ) |  | (38.4 | )
Present value of lease payments |  | 103.0 |  |  | 34.8 |  |  | 99.3 |
Less: current portion |  | (16.1 | ) |  | (10.5 | ) |  | (6.3 | )
Total long-term obligations under operating leases |  | $ | 86.9 |  |  | $ | 24.3 |  |  | $ | 93.0 |
Weighted-average lease term (years) |  | 9.3 |  |  | 4.2 |  |  | 16.2 |
Weighted-average discount rate |  | 3.9 | % |  | 3.4 | % |  | 4.1 | %
Schedule of future commitments under operating leases | Estimated future commitments under operating leases as of December 31, 2018 are detailed in the following table.
|  | Evergy |  | Westar Energy |  | KCP&L
|  | (millions)
2019 |  | $ | 24.2 |  |  | $ | 14.0 |  |  | $ | 10.2 |
2020 |  | 20.7 |  |  | 10.1 |  |  | 10.6 |
2021 |  | 18.4 |  |  | 8.1 |  |  | 10.3 |
2022 |  | 15.2 |  |  | 5.2 |  |  | 10.0 |
2023 |  | 12.4 |  |  | 2.8 |  |  | 9.6 |
After 2023 |  | 95.0 |  |  | 3.1 |  |  | 91.8 |
Total operating lease payments |  | $ | 185.9 |  |  | $ | 43.3 |  |  | $ | 142.5 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84164817&loc=d3e45280-112737 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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