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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2023
Accounting Policies [Abstract] |
Schedule of Fuel Inventory and Supplies | The following table separately states the balances for fuel inventory and supplies.
| December 31
| 2023 |  | 2022
Evergy | (millions)
Fuel inventory | $ | 257.3 |  |  | $ | 180.7 |
Supplies | 518.9 |  |  | 492.2 |
Fuel inventory and supplies | $ | 776.2 |  |  | $ | 672.9 |
Evergy Kansas Central |  |  |
Fuel inventory | $ | 138.6 |  |  | $ | 97.2 |
Supplies | 273.3 |  |  | 252.3 |
Fuel inventory and supplies | $ | 411.9 |  |  | $ | 349.5 |
Evergy Metro |  |  |
Fuel inventory | $ | 81.5 |  |  | $ | 59.0 |
Supplies | 183.1 |  |  | 181.6 |
Fuel inventory and supplies | $ | 264.6 |  |  | $ | 240.6 |
Schedule of Allowance for Funds used During Construction | The amounts of the Evergy Companies' AFUDC for borrowed and equity funds are detailed in the following table.
| 2023 |  | 2022 |  | 2021
Evergy | (millions)
AFUDC borrowed funds | $ | 39.3 |  |  | $ | 15.8 |  |  | $ | 14.7 |
AFUDC equity funds | 10.8 |  |  | 22.5 |  |  | 29.4 |
Total | $ | 50.1 |  |  | $ | 38.3 |  |  | $ | 44.1 |
Evergy Kansas Central |  |  |  |  |
AFUDC borrowed funds | $ | 22.2 |  |  | $ | 6.9 |  |  | $ | 7.1 |
AFUDC equity funds | 6.4 |  |  | 8.5 |  |  | 14.9 |
Total | $ | 28.6 |  |  | $ | 15.4 |  |  | $ | 22.0 |
Evergy Metro |  |  |  |  |
AFUDC borrowed funds | $ | 11.8 |  |  | $ | 6.5 |  |  | $ | 6.0 |
AFUDC equity funds | 4.4 |  |  | 14.2 |  |  | 12.6 |
Total | $ | 16.2 |  |  | $ | 20.7 |  |  | $ | 18.6 |
The average rates used in the calculation of AFUDC are detailed in the following table.
| 2023 |  | 2022 |  | 2021
Evergy Kansas Central | 5.7% |  | 3.1% |  | 4.9%
Evergy Metro | 5.2% |  | 5.7% |  | 5.6%
Evergy Missouri West | 5.6% |  | 2.3% |  | 2.6%
Schedule pf Depreciable Lives of Property Plant and Equipment | The depreciable lives of Evergy's, Evergy Kansas Central's and Evergy Metro's property, plant and equipment are detailed in the following table.
|  | Evergy |  |  | Evergy Kansas Central |  |  | Evergy Metro |
|  | (years) |
Generating facilities |  | 5 | to | 66 |  |  |  | 5 | to | 66 |  |  |  | 7 | to | 58 |
Transmission facilities |  | 27 | to | 66 |  |  |  | 29 | to | 63 |  |  |  | 27 | to | 64 |
Distribution facilities |  | 10 | to | 63 |  |  |  | 13 | to | 61 |  |  |  | 10 | to | 54 |
Other |  | 5 | to | 57 |  |  |  | 5 | to | 57 |  |  |  | 8 | to | 37 |
Schedule of Cash Surrender Value of Corporate Owned Life Insurance | Substantially all of Evergy's COLI-related balances relate to Evergy Kansas Central's COLI activity.
|  | December 31
|  | 2023 |  | 2022
Evergy |  | (millions)
Cash surrender value of policies |  | $ | 1,349.9 |  |  | $ | 1,387.4 |
Borrowings against policies |  | (1,221.1) |  |  | (1,256.6) |
Corporate-owned life insurance, net |  | $ | 128.8 |  |  | $ | 130.8 |
Schedule of Other Income Expense | The table below shows the detail of other expense for each of the Evergy Companies.
| 2023 |  | 2022 |  | 2021
Evergy | (millions)
Non-service cost component of net benefit cost | $ | (51.2) |  |  | $ | (62.9) |  |  | $ | (55.6) |
Other | (23.9) |  |  | (34.4) |  |  | (31.8) |
Other expense | $ | (75.1) |  |  | $ | (97.3) |  |  | $ | (87.4) |
Evergy Kansas Central |  |  |  |  |
Non-service cost component of net benefit cost | $ | (17.6) |  |  | $ | (17.1) |  |  | $ | (15.6) |
Other | (21.1) |  |  | (22.5) |  |  | (20.3) |
Other expense | $ | (38.7) |  |  | $ | (39.6) |  |  | $ | (35.9) |
Evergy Metro |  |  |  |  |
Non-service cost component of net benefit cost | $ | (24.8) |  |  | $ | (31.0) |  |  | $ | (26.7) |
Other | (2.2) |  |  | (2.9) |  |  | (2.7) |
Other expense | $ | (27.0) |  |  | $ | (33.9) |  |  | $ | (29.4) |
Schedule of Earnings Per Share, Basic and Diluted | The following table reconciles Evergy's basic and diluted EPS.
| 2023 |  | 2022 |  | 2021
Income | (millions, except per share amounts)
Net income | $ | 743.6 |  |  | $ | 765.0 |  |  | $ | 891.9 |
Less: Net income attributable to noncontrolling interests | 12.3 |  |  | 12.3 |  |  | 12.2 |
Net income attributable to Evergy, Inc. | $ | 731.3 |  |  | $ | 752.7 |  |  | $ | 879.7 |
Common Shares Outstanding |  |  |  |  |
Weighted average number of common shares outstanding - basic | 230.0 |  |  | 229.9 |  |  | 229.0 |
Add: effect of dilutive securities | 0.5 |  |  | 0.4 |  |  | 0.6 |
Diluted average number of common shares outstanding | 230.5 |  |  | 230.3 |  |  | 229.6 |
Basic EPS | $ | 3.18 |  |  | $ | 3.27 |  |  | $ | 3.84 |
Diluted EPS | $ | 3.17 |  |  | $ | 3.27 |  |  | $ | 3.83 |
Anti-dilutive securities excluded from the computation of diluted EPS for 2023 and 2022 were 3,950,000 common shares issuable pursuant to a warrant. Also, there was no dilution resulting from Evergy's convertible notes in 2023. There were no anti-dilutive securities excluded from the computation of diluted EPS for 2021.
Supplemental Cash Flow Information | Supplemental Cash Flow Information
Year Ended December 31 |  | 2023 |  | 2022 |  | 2021
Evergy |  | (millions)
Cash paid for (received from): |  |  |  |  |  |
Interest, net of amount capitalized |  | $ | 500.9 |  |  | $ | 393.7 |  |  | $ | 356.9 |
Interest of VIEs |  | — |  |  | — |  |  | 0.2 |
Income taxes, net of refunds |  | 34.4 |  |  | 21.6 |  |  | (19.6) |
Non-cash investing transactions: |  |  |  |  |  |
Property, plant and equipment additions |  | 251.3 |  |  | 354.7 |  |  | 269.3 |
Year Ended December 31 |  | 2023 |  | 2022 |  | 2021
Evergy Kansas Central |  | (millions)
Cash paid for (received from): |  |  |  |  |  |
Interest, net of amount capitalized |  | $ | 195.3 |  |  | $ | 170.2 |  |  | $ | 149.3 |
Interest of VIEs |  | — |  |  | — |  |  | 0.2 |
Income taxes, net of refunds |  | 54.4 |  |  | 79.8 |  |  | 37.5 |
Non-cash investing transactions: |  |  |  |  |  |
Property, plant and equipment additions |  | 134.1 |  |  | 203.9 |  |  | 101.9 |
Year Ended December 31 |  | 2023 |  | 2022 |  | 2021
Evergy Metro |  | (millions)
Cash paid for (received from): |  |  |  |  |  |
Interest, net of amount capitalized |  | $ | 134.3 |  |  | $ | 114.6 |  |  | $ | 110.8 |
Income taxes, net of refunds |  | 9.8 |  |  | (15.2) |  |  | 36.6 |
Non-cash investing transactions: |  |  |  |  |  |
Property, plant and equipment additions |  | 83.2 |  |  | 125.8 |  |  | 102.2 |

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