TAXES (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31	2024		2023
Current income taxes	(millions)
Federal	$	10.2	$	5.0
State	8.1		4.7
Total	18.3		9.7
Deferred income taxes
Federal	(2.5)		7.7
State	(6.7)		(3.3)
Total	(9.2)		4.4
Investment tax credit amortization	(1.8)		(1.7)
Income tax expense	$	7.3	$	12.4

Evergy Kansas Central
Three Months Ended March 31	2024		2023
Current income taxes	(millions)
Federal	$	4.3	$	18.1
State	3.1		2.0
Total	7.4		20.1
Deferred income taxes
Federal	(2.5)		(10.0)
State	(1.8)		(0.7)
Total	(4.3)		(10.7)
Investment tax credit amortization	(1.0)		(1.0)
Income tax expense	$	2.1	$	8.4

Evergy Metro
Three Months Ended March 31	2024		2023
Current income taxes	(millions)
Federal	$	2.0	$	(5.1)
State	3.3		1.6
Total	5.3		(3.5)
Deferred income taxes
Federal	4.8		12.4
State	(2.9)		(1.2)
Total	1.9		11.2
Investment tax credit amortization	(0.8)		(0.8)
Income tax expense	$	6.4	$	6.9

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 March 31	2024		2023
Federal statutory income tax	21.0	%	21.0	%
COLI policies	(1.2)		(1.4)
State income taxes	0.6		0.6
Flow through depreciation for plant-related differences	(8.3)		(7.7)
Federal tax credits	(6.6)		(3.5)
Non-controlling interest	(0.3)		(0.3)
AFUDC equity	(0.3)		(0.6)
Amortization of federal investment tax credits	(0.6)		(0.6)
Stock compensation	0.4		0.1
Officer compensation limitation	0.8		0.2
Other	0.1		0.1
Effective income tax rate	5.6	%	7.9	%

Evergy Kansas Central
Three Months Ended March 31	2024		2023
Federal statutory income tax	21.0	%	21.0	%
COLI policies	(2.0)		(2.4)
State income taxes	0.6		0.7
Flow through depreciation for plant-related differences	(5.4)		(4.0)
Federal tax credits	(10.9)		(6.3)
Non-controlling interest	(0.5)		(0.5)
AFUDC equity	(0.5)		(0.5)
Amortization of federal investment tax credits	(0.4)		(0.4)
Stock compensation	(0.1)		(0.2)
Other	0.1		—
Effective income tax rate	1.9	%	7.4	%

Evergy Metro
Three Months Ended March 31	2024		2023
Federal statutory income tax	21.0	%	21.0	%
COLI policies	(0.1)		(0.1)
State income taxes	0.9		0.6
Flow through depreciation for plant-related differences	(7.7)		(8.1)
Federal tax credits	(0.6)		(0.2)
AFUDC equity	—		(0.9)
Amortization of federal investment tax credits	(0.9)		(0.9)
Stock compensation	1.9		1.0
Officer compensation limitation	1.9		0.6
Other	—		(0.1)
Effective income tax rate	16.4	%	12.9	%