WESTAR ENERGY INC /KS

CIK:0000054507|SEC Filings

Consolidated Statements of Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
OPERATING REVENUES	$ 1,500.1	$ 1,437.0	$ 2,943.8	$ 2,811.5
OPERATING EXPENSES:
Fuel and purchased power	328.5	330.4	688.5	685.7
SPP network transmission costs	118.8	114.9	228.4	211.3
Operating and maintenance	260.9	255.1	504.1	487.1
Depreciation and amortization	304.3	288.4	609.6	576.5
Taxes other than income tax	107.0	104.4	214.2	215.5
Total Operating Expenses	1,119.5	1,093.2	2,244.8	2,176.1
INCOME FROM OPERATIONS	380.6	343.8	699.0	635.4
OTHER INCOME (EXPENSE):
Investment earnings (loss)	10.6	(20.9)	12.2	(18.8)
Other income	14.5	22.3	33.3	26.7
Other expense	(6.8)	(8.8)	(15.5)	(18.3)
Total Other Income (Expense), Net	18.3	(7.4)	30.0	(10.4)
Interest expense	165.9	153.8	340.4	306.3
INCOME BEFORE INCOME TAXES	233.0	182.6	388.6	318.7
Income tax expense	16.4	10.0	19.8	19.6
Equity in earnings of equity method investees, net of income taxes	1.5	1.8	3.9	3.4
NET INCOME	218.1	174.4	372.7	302.5
Less: Net income attributable to noncontrolling interests	3.1	3.1	6.2	6.2
Net income attributable to Evergy, Inc.	$ 215.0	$ 171.3	$ 366.5	$ 296.3
BASIC AND DILUTED EARNINGS PER AVERAGE COMMON SHARE OUTSTANDING ATTRIBUTABLE TO EVERGY, INC. (see Note 1)
Basic earnings per common share (in dollars per share)	$ 0.93	$ 0.74	$ 1.59	$ 1.29
Diluted earnings per common share (in dollars per share)	$ 0.91	$ 0.74	$ 1.55	$ 1.28
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Basic (in shares)	230.9	230.4	230.8	230.4
Diluted (in shares)	236.5	232.7	236.1	232.4
COMPREHENSIVE INCOME
NET INCOME	$ 218.1	$ 174.4	$ 372.7	$ 302.5
Derivative hedging activity
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	0.6	0.0	0.6	0.0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	(0.1)	0.0	(0.1)	0.0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	0.5	0.0	0.5	0.0
Reclassification to expenses, net of tax	1.3	1.4	2.7	2.8
Derivative hedging activity, net of tax	1.8	1.4	3.2	2.8
Defined benefit pension plans
Amortization of net gains included in net periodic benefit costs, net of tax	0.0	(0.1)	0.0	(0.1)
Change in unrecognized pension expense, net of tax	0.0	(0.1)	0.0	(0.1)
Total other comprehensive income	1.8	1.3	3.2	2.7
COMPREHENSIVE INCOME	219.9	175.7	375.9	305.2
Less: Comprehensive income attributable to noncontrolling interest	3.1	3.1	6.2	6.2
Comprehensive Income, Net of Tax, Attributable to Parent, Total	$ 216.8	$ 172.6	$ 369.7	$ 299.0

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES:
Net income	$ 372.7	$ 302.5
Adjustments to reconcile income to net cash from operating activities:
Depreciation and amortization	609.6	576.5
Amortization of nuclear fuel	33.7	32.4
Amortization of deferred refueling outage	14.0	8.4
Amortization of corporate-owned life insurance	12.7	13.3
Stock compensation	13.2	11.3
Net deferred income taxes and credits	(6.7)	(11.1)
Allowance for equity funds used during construction	(22.9)	(5.9)
Payments for asset retirement obligations	(1.8)	(5.8)
Equity in earnings of equity method investees, net of income taxes	(3.9)	(3.4)
Income from corporate-owned life insurance	(8.9)	(7.9)
(Gains) losses from investments in early-stage clean energy and energy solution companies	(8.1)	29.0
Losses on induced conversion of convertible notes	10.3	0.0
Other	1.0	0.8
Changes in working capital items:
Accounts receivable	(154.3)	(137.6)
Accounts receivable pledged as collateral	46.0	63.0
Fuel inventory and supplies	(38.4)	21.9
Prepaid expenses and other current assets	(61.9)	15.0
Accounts payable	(106.1)	(169.5)
Accrued taxes	115.9	105.6
Other current liabilities	(71.0)	(16.1)
Changes in other assets	(4.8)	20.1
Changes in other liabilities	(29.2)	(69.0)
Cash Flows from Operating Activities	711.1	773.5
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Additions to property, plant and equipment	(1,811.8)	(1,220.1)
Purchase of securities - trusts	(50.7)	(70.8)
Sale of securities - trusts	58.5	68.0
Proceeds from nonrefundable contributions in aid of construction	130.0	0.0
Investment in corporate-owned life insurance	(10.8)	(14.8)
Proceeds from investment in corporate-owned life insurance	54.5	5.2
Other investing activities	1.8	(2.9)
Cash Flows used in Investing Activities	(1,628.5)	(1,235.4)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Short-term debt, net	437.0	215.6
Proceeds from term loan facility	555.0	0.0
Repayment of term loan facility	(55.0)	0.0
Collateralized short-term borrowings, net	(46.0)	(63.0)
Issuance of common stock	0.7	0.4
Proceeds from long-term debt	724.3	593.4
Retirements of long-term debt	(397.4)	(8.0)
Borrowings against cash surrender value of corporate-owned life insurance	47.1	46.1
Repayment of borrowings against cash surrender value of corporate-owned life insurance	(42.1)	(3.3)
Proceeds from refundable advances for construction	27.5	0.0
Cash dividends paid	(315.3)	(304.6)
Other financing activities	(18.1)	(9.6)
Cash Flows from Financing Activities	917.7	467.0
NET CHANGE IN CASH AND CASH EQUIVALENTS	0.3	5.1
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period	27.0	29.9
End of period	$ 27.3	$ 35.0

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS:
Cash and cash equivalents	$ 21.8	$ 19.8
Receivables, net of allowance for credit losses of $13.3 and $15.3, respectively	401.4	214.2
Accounts receivable pledged as collateral	356.0	402.0
Fuel inventory and supplies	867.5	828.9
Income taxes receivable	0.0	8.2
Regulatory assets, includes $17.1 and $16.7 related to variable interest entity, respectively	247.5	217.4
Prepaid expenses	77.6	77.9
Other	93.5	47.4
Total Current Assets	2,065.3	1,815.8
PROPERTY, PLANT AND EQUIPMENT, NET, includes $115.8 and $119.4 related to variable interest entity, respectively	27,405.6	26,301.5
OTHER ASSETS:
Regulatory assets, includes $269.2 and $277.9 related to variable interest entity, respectively	1,959.7	1,885.3
Nuclear decommissioning trust	1,080.2	1,016.8
Goodwill	2,336.6	2,336.6
Other	505.8	592.5
Total Other Assets	5,882.3	5,831.2
TOTAL ASSETS	35,353.2	33,948.5
CURRENT LIABILITIES:
Current maturities of long-term debt, includes $17.5 and $17.0 related to variable interest entity, respectively	1,495.3	367.0
Short-Term Bank Loans and Notes Payable	2,331.0	1,394.0
Collateralized note payable	356.0	402.0
Accounts payable	530.2	654.3
Accrued taxes	277.1	169.4
Accrued interest, includes $1.3 and $1.3 related to variable interest entity, respectively	130.6	158.3
Regulatory liabilities	135.6	141.6
Asset retirement obligations	31.7	34.2
Customer advances for construction	239.0	161.6
Other	224.4	213.5
Total Current Liabilities	5,750.9	3,695.9
LONG-TERM LIABILITIES:
Long-term debt, net, includes $270.6 and $279.2 related to variable interest entity, respectively	12,315.7	13,039.2
Deferred income taxes	1,975.7	2,020.7
Unamortized investment tax credits	153.8	155.8
Regulatory liabilities	2,918.9	2,824.6
Pension and post-retirement liability	237.3	278.7
Asset retirement obligations	1,340.7	1,308.1
Other	384.5	357.7
Total Long-Term Liabilities	19,326.6	19,984.8
Commitments and Contingencies (Note 11)
Evergy, Inc. Shareholders' Equity:
Common stock	7,227.7	7,273.1
Retained earnings	3,010.1	2,966.2
Accumulated other comprehensive loss	(14.8)	(18.0)
Total Evergy, Inc. Shareholders' Equity	10,223.0	10,221.3
Noncontrolling Interests	52.7	46.5
Total Equity	10,275.7	10,267.8
TOTAL LIABILITIES AND EQUITY	35,353.2	33,948.5
Variable Interest Entities
CURRENT ASSETS:
Regulatory assets, includes $17.1 and $16.7 related to variable interest entity, respectively	17.1	16.7
PROPERTY, PLANT AND EQUIPMENT, NET, includes $115.8 and $119.4 related to variable interest entity, respectively	115.8	119.4
OTHER ASSETS:
Regulatory assets, includes $269.2 and $277.9 related to variable interest entity, respectively	269.2	277.9
CURRENT LIABILITIES:
Current maturities of long-term debt, includes $17.5 and $17.0 related to variable interest entity, respectively	17.5	17.0
Accrued interest, includes $1.3 and $1.3 related to variable interest entity, respectively	1.3	1.3
LONG-TERM LIABILITIES:
Long-term debt, net, includes $270.6 and $279.2 related to variable interest entity, respectively	$ 270.6	$ 279.2