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TAXES (Tables)
 6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Components of income tax expense are detailed in the following tables.
Evergy
 
 
 
Three Months Ended
June 30
Year to Date
June 30

2020
 
2019
2020
 
2019
Current income taxes
(millions)
Federal
$
(21.0
)
 
$
8.7

$
(18.6
)
 
$
20.6

State
(6.9
)
 
(0.2
)
(7.3
)
 
(0.8
)
Total
(27.9
)
 
8.5

(25.9
)
 
19.8

Deferred income taxes
 
 
 
 

 
 

Federal
30.8

 
9.8

36.8

 
2.5

State
33.4

 
7.2

36.2

 
13.5

Total
64.2

 
17.0

73.0

 
16.0

Investment tax credit amortization
(2.6
)
 
(1.1
)
(3.3
)
 
(2.1
)
Income tax expense
$
33.7

 
$
24.4

$
43.8

 
$
33.7

Evergy Kansas Central
 
 
 
 
 
 
 
Three Months Ended
June 30
Year to Date
June 30

2020
 
2019
2020
 
2019
Current income taxes
(millions)
Federal
$
(12.1
)
 
$
17.5

$
12.1

 
$
27.9

State
(6.5
)
 
(1.6
)
(6.9
)
 
(1.2
)
Total
(18.6
)
 
15.9

5.2

 
26.7

Deferred income taxes
 
 
 
 

 
 

Federal
(10.4
)
 
(10.7
)
(28.6
)
 
(13.9
)
State
150.2

 
5.5

152.8

 
9.1

Total
139.8

 
(5.2
)
124.2

 
(4.8
)
Investment tax credit amortization
(2.3
)
 
(0.8
)
(2.7
)
 
(1.5
)
Income tax expense
$
118.9

 
$
9.9

$
126.7

 
$
20.4

Evergy Metro
 
 
 
Three Months Ended
June 30
Year to Date
June 30

2020
 
2019
2020
 
2019
Current income taxes
(millions)
Federal
$
(11.1
)
 
$
26.4

$
0.5

 
$
34.3

State
(0.2
)
 
4.6

1.0

 
5.4

Total
(11.3
)
 
31.0

1.5

 
39.7

Deferred income taxes
 

 
 

 

 
 

Federal
26.2

 
(19.7
)
16.7

 
(24.9
)
State
(37.3
)
 
(3.0
)
(37.7
)
 
(2.6
)
Total
(11.1
)
 
(22.7
)
(21.0
)
 
(27.5
)
Investment tax credit amortization
(0.2
)
 
(0.3
)
(0.5
)
 
(0.5
)
Income tax expense (benefit)
$
(22.6
)
 
$
8.0

$
(20.0
)
 
$
11.7
Schedule of Effective Income Tax Rate Reconciliation
Effective income tax rates reflected in the financial statements and the reasons for their differences from the statutory federal rates are detailed in the following tables.
Evergy
 
 
 
 
 
 
 
Three Months Ended
June 30
Year to Date
June 30

2020
 
2019
2020
 
2019
Federal statutory income tax rate
21.0
 %
 
21.0
 %
21.0
 %
 
21.0
 %
Effect of:
 
 
 
 
 
 
COLI policies
(1.6
)
 
(1.8
)
(1.6
)
 
(1.8
)
State income taxes
3.6

 
2.9

3.2

 
3.6

Flow through depreciation for plant-related differences
(5.0
)
 
(2.7
)
(4.7
)
 
(3.4
)
Federal tax credits
(4.6
)
 
(4.0
)
(4.6
)
 
(3.9
)
Non-controlling interest
(0.3
)
 
(0.5
)
(0.3
)
 
(0.4
)
AFUDC equity
(0.7
)
 
(0.1
)
(0.6
)
 
—

Amortization of federal investment tax credits
(0.5
)
 
(0.5
)
(0.5
)
 
(0.5
)
State tax rate change
8.1

 
—

5.5

 
—

Valuation allowance
—

 
—

—

 
(2.8
)
Stock compensation
(0.4
)
 
(0.3
)
(0.2
)
 
(0.1
)
Officer compensation limitation
0.2

 
0.1

0.2

 
0.1

Other
—

 
0.4

—

 
0.2

Effective income tax rate
19.8
 %
 
14.5
 %
17.4
 %
 
12.0
 %

Evergy Kansas Central
 
 
 
 
 
 
 
Three Months Ended
June 30
Year to Date
June 30

2020
 
2019
2020
 
2019
Federal statutory income tax rate
21.0
 %
 
21.0
 %
21.0
 %
 
21.0
 %
Effect of:
 
 
 
 
 
 
COLI policies
(3.0
)
 
(3.3
)
(3.0
)
 
(3.3
)
State income taxes
4.4

 
3.0

3.6

 
4.0

Flow through depreciation for plant-related differences
0.1

 
0.3

—

 
0.1

Federal tax credits
(6.9
)
 
(6.1
)
(6.8
)
 
(6.1
)
Non-controlling interest
(0.6
)
 
(1.0
)
(0.6
)
 
(0.8
)
AFUDC equity
(1.6
)
 
(0.1
)
(1.1
)
 
(0.1
)
Amortization of federal investment tax credits
(0.7
)
 
(0.7
)
(0.7
)
 
(0.7
)
State tax rate change
134.0

 
—

75.6

 
—

Valuation allowance
—

 
—

—

 
(1.0
)
Stock compensation
(0.5
)
 
(0.5
)
(0.3
)
 
(0.3
)
Other
—

 
0.3

0.1

 
0.3

Effective income tax rate
146.2
 %
 
12.9
 %
87.8
 %
 
13.1
 %

Evergy Metro
 
 
 
 
 
 
 
Three Months Ended
June 30
Year to Date
June 30

2020
 
2019
2020
 
2019
Federal statutory income tax rate
21.0
 %
 
21.0
 %
21.0
 %
 
21.0
 %
Effect of:
 
 
 
 
 
 
COLI policies
(0.3
)
 
(0.1
)
(0.2
)
 
(0.1
)
State income taxes
3.3

 
1.8

3.0

 
2.5

Flow through depreciation for plant-related differences
(9.5
)
 
(5.7
)
(9.0
)
 
(6.0
)
Federal tax credits
(2.4
)
 
(1.5
)
(2.4
)
 
(1.5
)
AFUDC equity
0.1

 
—

—

 
—

Amortization of federal investment tax credits
(0.4
)
 
(0.3
)
(0.4
)
 
(0.3
)
State tax rate change
(40.1
)
 
—

(29.7
)
 
—

Stock compensation
(0.3
)
 
(0.2
)
(1.1
)
 
0.1

Officer compensation limitation
0.6

 
0.3

0.4

 
0.3

Other
(0.1
)
 
(3.3
)
—

 
(2.5
)
Effective income tax rate
(28.1
)%
 
12.0
 %
(18.4
)%
 
13.5
 %