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FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of Carrying Value and Fair Value of Debt Instruments The book value and fair value of the Evergy Companies' long-term debt and long-term debt of variable interest entities is summarized in the following table.
September 30, 2020December 31, 2019
Book ValueFair ValueBook ValueFair Value
Long-term debt(a)
(millions)
Evergy(b)
$9,629.9 $11,126.4 $8,997.8 $9,750.2 
Evergy Kansas Central3,931.1 4,711.5 3,686.1 4,078.8 
Evergy Metro2,922.7 3,555.6 2,525.0 2,932.2 
Long-term debt of variable interest entities(a)
Evergy$18.8 $19.3 $51.1 $51.5 
Evergy Kansas Central18.8 19.3 51.1 51.5 
(a) Includes current maturities.
(b) Book value as of September 30, 2020 and December 31, 2019, includes $114.1 million and $125.5 million, respectively, of fair value adjustments recorded in connection with purchase accounting for the Great Plains Energy and Evergy Kansas Central merger, which are not part of future principal payments and will amortize over the remaining life of the associated debt instrument.
Schedule of Fair Value of Assets and Liabilities
The following tables include the Evergy Companies' balances of financial assets and liabilities measured at fair value on a recurring basis.
DescriptionSeptember 30, 2020Level 1Level 2Level 3NAV
Evergy Kansas Central(millions)
Assets
Nuclear decommissioning trust(a)
Domestic equity funds$90.9 $83.5 $— $— $7.4 
International equity funds55.2 55.2 — — — 
Core bond fund39.6 39.6 — — — 
High-yield bond fund23.0 23.0 — — — 
Emerging markets bond fund18.8 18.8 — — — 
Combination debt/equity/other fund18.2 18.2 — — — 
Alternative investments fund20.2 — — — 20.2 
Real estate securities fund12.8 — — — 12.8 
Cash equivalents0.4 0.4 — — — 
Total nuclear decommissioning trust279.1 238.7 — — 40.4 
Rabbi trust
Core bond fund25.3 — — — 25.3 
Combination debt/equity/other fund6.3 — — — 6.3 
Cash equivalents0.2 0.2 — — — 
Total rabbi trust31.8 0.2 — — 31.6 
Total$310.9 $238.9 $— $— $72.0 
Evergy Metro
Assets    
Nuclear decommissioning trust(a)
    
Equity securities$208.0 $208.0 $— $— $— 
Debt securities
U.S. Treasury48.1 48.1 — — — 
U.S. Agency0.5 — 0.5 — — 
State and local obligations3.7 — 3.7 — — 
Corporate bonds40.9 — 40.9 — — 
Foreign governments0.1 — 0.1 — — 
Cash equivalents7.1 7.1 — — — 
Other— — — — — 
Total nuclear decommissioning trust308.4 263.2 45.2 — — 
Self-insured health plan trust(b)
Equity securities1.1 1.1 — — — 
Debt securities8.6 3.2 5.4 — — 
Cash and cash equivalents3.3 3.3 — — — 
Total self-insured health plan trust13.0 7.6 5.4 — — 
Total$321.4 $270.8 $50.6 $— $— 
Other Evergy
Assets
Rabbi trusts
Fixed income fund$13.1 $— $— $— $13.1 
Cash and cash equivalents0.6 0.6 — — — 
Total rabbi trusts$13.7 $0.6 $— $— $13.1 
Evergy    
Assets    
Nuclear decommissioning trust(a)
$587.5 $501.9 $45.2 $— $40.4 
Rabbi trusts45.5 0.8 — — 44.7 
Self-insured health plan trust(b)
13.0 7.6 5.4 — — 
Total$646.0 $510.3 $50.6 $— $85.1 
DescriptionDecember 31, 2019Level 1Level 2Level 3NAV
Evergy Kansas Central(millions)
Assets
Nuclear decommissioning trust(a)
Domestic equity funds$86.1 $78.6 $— $— $7.5 
International equity funds52.0 52.0 — — — 
Core bond fund39.3 39.3 — — — 
High-yield bond fund22.3 22.3 — — — 
Emerging markets bond fund19.4 19.4 — — — 
Combination debt/equity/other fund16.4 16.4 — — — 
Alternative investments fund23.9 — — — 23.9 
Real estate securities fund12.6 — — — 12.6 
Cash equivalents0.5 0.5 — — — 
Total nuclear decommissioning trust272.5 228.5 — — 44.0 
Rabbi trust
Core bond fund25.3 — — — 25.3 
Combination debt/equity/other fund6.3 — — — 6.3 
Cash equivalents0.1 0.1 — — — 
Total rabbi trust31.7 0.1 — — 31.6 
Total$304.2 $228.6 $— $— $75.6 
Evergy Metro
Assets    
Nuclear decommissioning trust(a)
   
Equity securities$211.1 $211.1 $— $— $— 
Debt securities     
U.S. Treasury50.3 50.3 — — — 
U.S. Agency0.4 — 0.4 — — 
State and local obligations2.2 — 2.2 — — 
Corporate bonds33.2 — 33.2 — — 
Foreign governments0.1 — 0.1 — — 
Cash equivalents3.1 3.1 — — — 
Other0.3 — 0.3 — — 
Total nuclear decommissioning trust300.7 264.5 36.2 — — 
Self-insured health plan trust(b)
Equity securities0.5 0.5 — — — 
Debt securities6.7 1.4 5.3 — — 
Cash and cash equivalents2.7 2.7 — — — 
Total self-insured health plan trust9.9 4.6 5.3 — — 
Total$310.6 $269.1 $41.5 $— $— 
Other Evergy
Assets
Rabbi trusts
Fixed income fund$13.3 $— $— $— $13.3 
Cash and cash equivalents0.5 0.5 — — — 
Total rabbi trusts$13.8 $0.5 $— $— $13.3 
Evergy    
Assets    
Nuclear decommissioning trust(a)
$573.2 $493.0 $36.2 $— $44.0 
Rabbi trust45.5 0.6 — — 44.9 
Self-insured health plan trust(b)
9.9 4.6 5.3 — — 
Total$628.6 $498.2 $41.5 $— $88.9 
(a)Fair value is based on quoted market prices of the investments held by the trust and/or valuation models.  
(b)Fair value is based on quoted market prices of the investments held by the trust. Debt securities classified as Level 1 are comprised of U.S. Treasury securities. Debt securities classified as Level 2 are comprised of corporate bonds, U.S. Agency, state and local obligations, and other asset-backed securities.
Schedule of Fair Value Investments, Entities that Calculate NAV
The following table provides additional information on these Evergy and Evergy Kansas Central investments.
September 30, 2020December 31, 2019September 30, 2020
FairUnfundedFairUnfundedRedemptionLength of
ValueCommitmentsValueCommitmentsFrequencySettlement
Evergy Kansas Central(millions)
Nuclear decommissioning trust:
Domestic equity funds$7.4 $2.5 $7.5 $3.3 (a)(a)
Alternative investments fund(b)
20.2 — 23.9 — Quarterly65 days
Real estate securities fund(b)
12.8 — 12.6 — Quarterly65 days
Total$40.4 $2.5 $44.0 $3.3 
Rabbi trust:
Core bond fund$25.3 $— $25.3 $— (c)(c)
Combination debt/equity/other fund
6.3 — 6.3 — (c)(c)
Total$31.6 $— $31.6 $— 
Other Evergy
Rabbi trust:
Fixed income fund$13.1 $— $13.3 $— (c)(c)
Total Evergy investments at NAV$85.1 $2.5 $88.9 $3.3 
(a)This investment is in five long-term private equity funds that do not permit early withdrawal. Investments in these funds cannot be distributed until the underlying investments have been liquidated, which may take years from the date of initial liquidation. Three funds have begun to make distributions. The initial investment in the fourth and fifth funds occurred in 2016 and 2018, respectively. The fourth fund's term is 15 years, subject to the general partner's right to extend the term for up to three additional one-year periods.  The fifth fund's term is 15 years, subject to additional extensions approved by a fund advisory committee to provide for an orderly liquidation of fund investments and dissolution of the fund.
(b)There is a holdback on final redemptions.
(c)This investment can be redeemed immediately and is not subject to any restrictions on redemptions.
Schedule of Fair Value Recurring Gain (Loss) Included in Earnings
The following table summarizes the net unrealized gains (losses) for the Evergy Companies' nuclear decommissioning trusts and rabbi trusts.
Three Months Ended
September 30		Year to Date
September 30
2020201920202019
Evergy(millions)
Nuclear decommissioning trust - equity securities$27.5 $(0.3)$(8.5)$50.9 
Nuclear decommissioning trust - debt securities0.1 1.5 5.4 5.9 
Rabbi trusts - equity securities0.8 0.9 1.6 2.4 
Total$28.4 $2.1 $(1.5)$59.2 
Evergy Kansas Central
Nuclear decommissioning trust - equity securities$16.2 $0.2 $0.2 $26.2 
Rabbi trust - equity securities0.6 0.5 1.1 2.7 
Total$16.8 $0.7 $1.3 $28.9 
Evergy Metro
Nuclear decommissioning trust - equity securities$11.3 $(0.5)$(8.7)$24.7 
Nuclear decommissioning trust - debt securities0.1 1.5 5.4 5.9 
Total$11.4 $1.0 $(3.3)$30.6