XML 76 R44.htm IDEA: XBRL DOCUMENT
v3.20.4

MERGER OF GREAT PLAINS ENERGY AND EVERGY KANSAS CENTRAL (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Business Combinations [Abstract] |
Schedule of Accounting Charges and Deferrals Related to Merger | The following pre-tax reductions of revenue, expenses and deferral were recognized following the consummation of the merger and are included in the Evergy Companies' consolidated statements of income and comprehensive income for 2018.
Description | Income Statement Line Item | Expected Payment Period |  | Evergy |  | Evergy Kansas Central |  | Evergy Metro
|  |  |  | (millions)
One-time bill credits | Operating revenues | 2018 - 2019 |  | $ | (59.7) |  |  | $ | (23.1) |  |  | $ | (22.4) |
Annual bill credits | Operating revenues | 2019 - 2022 |  | (10.5) |  |  | (7.9) |  |  | (2.6) |
Total impact to operating revenues |  |  |  | $ | (70.2) |  |  | $ | (31.0) |  |  | $ | (25.0) |
Charitable contributions and community support | Operating and maintenance | 2018 - 2027 |  | $ | 24.7 |  |  | $ | — |  |  | $ | — |
Voluntary severance and accelerated equity compensation | Operating and maintenance | 2018 - 2019 |  | 47.9 |  |  | 44.2 |  |  | 2.6 |
Other transaction and transition costs | Operating and maintenance | 2018 |  | 51.0 |  |  | 21.5 |  |  | 2.1 |
Reallocation and deferral of merger transition costs | Operating and maintenance | n/a |  | (47.8) |  |  | (13.8) |  |  | (23.2) |
Total impact to operating and maintenance expense |  |  |  | $ | 75.8 |  |  | $ | 51.9 |  |  | $ | (18.5) |
Total |  |  |  | $ | (146.0) |  |  | $ | (82.9) |  |  | $ | (6.5) |
Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable | The total consideration transferred in the merger is based on the closing stock price of Evergy Kansas Central on June 4, 2018, and is calculated as follows.
|  | (millions, except share amounts)
Great Plains Energy common stock shares outstanding as of June 4, 2018 |  | 215,800,074 |
Great Plains Energy restricted stock awards outstanding as of June 4, 2018 |  | (204,825) |
Great Plains Energy shares to be converted to Evergy shares |  | 215,595,249 |
Exchange ratio |  | 0.5981 |
Evergy common stock shares issued to Great Plains Energy shareholders |  | 128,947,518 |
Closing price of Evergy Kansas Central common stock as of June 4, 2018 |  | $ | 54.00 |
Fair value of Evergy shares issued to Great Plains Energy shareholders |  | $ | 6,963.2 |
Fair value of Great Plains Energy's equity compensation awards |  | 12.5 |
Total purchase price |  | $ | 6,975.7 |
Schedule of Purchase Price Allocation | The final purchase price allocation to Great Plains Energy's assets and liabilities as of June 4, 2018, is detailed in the following table.
|  | (millions)
Current assets |  | $ | 2,151.7 |
Property, plant and equipment, net |  | 9,179.7 |
Goodwill |  | 2,336.6 |
Other long-term assets, excluding goodwill |  | 1,235.9 |
Total assets |  | $ | 14,903.9 |
Current liabilities |  | 1,673.9 |
Long-term liabilities, excluding long-term debt |  | 2,895.7 |
Long-term debt, net |  | 3,358.6 |
Total liabilities |  | $ | 7,928.2 |
Total purchase price |  | $ | 6,975.7 |
Schedule of Unaudited Pro Forma Financial Information | The unaudited pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the consolidated results of operations that would have been achieved or the future consolidated results of operations of Evergy.
|  |  |  |  | 2018 |  |
|  |  |  | (millions, except per share amounts)
Operating revenues |  |  |  |  | $ | 5,334.6 |  |  |
Net income attributable to Evergy, Inc. |  |  |  |  | 714.3 |  |  |
Basic earnings per common share |  |  |  |  | $ | 2.67 |  |  |
Diluted earnings per common share |  |  |  |  | $ | 2.67 |  |  |

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the equity interest issued or issuable in a business acquisition (or series of individually immaterial business acquisitions) planned, initiated, or completed during the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b)(4) -URI http://asc.fasb.org/extlink&oid=120321790&loc=d3e6927-128479 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionEquityInterestIssuedOrIssuableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration