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LONG-TERM DEBT
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
The Evergy Companies' long-term debt is detailed in the following tables.
December 31, 2020Issuing EntityYear DueEvergyEvergy Kansas CentralEvergy Metro
Mortgage Bonds (millions)
3.25% SeriesEvergy Kansas Central, Inc.2025250.0 250.0 — 
2.55% SeriesEvergy Kansas Central, Inc.2026350.0 350.0 — 
3.10% SeriesEvergy Kansas Central, Inc.2027300.0 300.0 — 
4.125% SeriesEvergy Kansas Central, Inc.2042550.0 550.0 — 
4.10% SeriesEvergy Kansas Central, Inc.2043430.0 430.0 — 
4.625% SeriesEvergy Kansas Central, Inc.2043250.0 250.0 — 
4.25% SeriesEvergy Kansas Central, Inc.2045300.0 300.0 — 
3.25% SeriesEvergy Kansas Central, Inc.2049300.0 300.0 
3.45% SeriesEvergy Kansas Central, Inc.2050500.0 500.0 — 
6.15% SeriesEvergy Kansas South, Inc.202350.0 50.0 — 
6.53% SeriesEvergy Kansas South, Inc.2037175.0 175.0 — 
6.64% SeriesEvergy Kansas South, Inc.2038100.0 100.0 — 
4.30% SeriesEvergy Kansas South, Inc.2044250.0 250.0 — 
2.95% EIRR bondsEvergy Metro, Inc.202379.5 — 79.5 
4.125% SeriesEvergy Metro, Inc.2049400.0 — 400.0 
2.25% SeriesEvergy Metro, Inc.2030400.0 — 400.0 
9.44% SeriesEvergy Missouri West, Inc.20211.1 — — 
Pollution Control Bonds
0.18% Series(b)
Evergy Kansas Central, Inc.203245.0 45.0 — 
0.18% Series(b)
Evergy Kansas Central, Inc.203230.5 30.5 — 
0.18% Series(b)
Evergy Kansas South, Inc.202721.9 21.9 — 
2.50% SeriesEvergy Kansas South, Inc.203150.0 50.0 — 
0.18% Series(b)
Evergy Kansas South, Inc.203214.5 14.5 — 
0.18% Series(b)
Evergy Kansas South, Inc.203210.0 10.0 — 
0.20% Series 2007A and 2007B(b)
Evergy Metro, Inc.2035146.5 — 146.5 
2.75% Series 2008Evergy Metro, Inc.203823.4 — 23.4 
Senior Notes 
3.15% Series(g)
Evergy Metro, Inc.2023300.0 — 300.0 
3.65% Series(g)
Evergy Metro, Inc.2025350.0 — 350.0 
6.05% Series (5.78% rate)(a)(g)
Evergy Metro, Inc.2035250.0 — 250.0 
5.30% Series(g)
Evergy Metro, Inc.2041400.0 — 400.0 
4.20% Series(g)
Evergy Metro, Inc.2047300.0 — 300.0 
4.20% Series(g)
Evergy Metro, Inc.2048300.0 — 300.0 
8.27% SeriesEvergy Missouri West, Inc.202180.9 — — 
3.49% Series AEvergy Missouri West, Inc.202536.0 — — 
4.06% Series BEvergy Missouri West, Inc.203360.0 — — 
4.74% Series CEvergy Missouri West, Inc.2043150.0 — — 
3.74% SeriesEvergy Missouri West, Inc.2022100.0 — — 
4.85% Series
Evergy, Inc.(f)
2021350.0 — — 
5.292% Series
Evergy, Inc.(f)
2022287.5 — — 
2.45% SeriesEvergy, Inc.2024800.0 — — 
2.90% Series (3.77% rate)(a)
Evergy, Inc.2029800.0 — — 
Medium Term Notes  
7.33% SeriesEvergy Missouri West, Inc.20233.0 — — 
7.17% SeriesEvergy Missouri West, Inc.20237.0 — — 
Fair value adjustment(e)
110.4 — — 
Current maturities(c)
(436.4)— — 
Unamortized debt discount and debt issuance costs(84.9)(45.4)(26.4)
Total excluding current maturities(d)
$9,190.9 $3,931.5 $2,923.0 
December 31, 2019Issuing EntityYear DueEvergyEvergy Kansas CentralEvergy Metro
Mortgage Bonds (millions)
5.10% SeriesEvergy Kansas Central, Inc.2020$250.0 $250.0 $— 
3.25% SeriesEvergy Kansas Central, Inc.2025250.0 250.0 — 
2.55% SeriesEvergy Kansas Central, Inc.2026350.0 350.0 — 
3.10% SeriesEvergy Kansas Central, Inc.2027300.0 300.0 — 
4.125% SeriesEvergy Kansas Central, Inc.2042550.0 550.0 — 
4.10% SeriesEvergy Kansas Central, Inc.2043430.0 430.0 — 
4.625% SeriesEvergy Kansas Central, Inc.2043250.0 250.0 — 
4.25% SeriesEvergy Kansas Central, Inc.2045300.0 300.0 — 
3.25% SeriesEvergy Kansas Central, Inc.2049300.0 300.0 
6.15% SeriesEvergy Kansas South, Inc.202350.0 50.0 — 
6.53% SeriesEvergy Kansas South, Inc.2037175.0 175.0 — 
6.64% SeriesEvergy Kansas South, Inc.2038100.0 100.0 — 
4.30% SeriesEvergy Kansas South, Inc.2044250.0 250.0 — 
2.95% EIRR bondsEvergy Metro, Inc.202379.5 — 79.5 
4.125% SeriesEvergy Metro, Inc.2049400.0 — 400.0 
9.44% SeriesEvergy Missouri West, Inc.2020-20212.3 — — 
Pollution Control Bonds
1.39% Series(b)
Evergy Kansas Central, Inc.203245.0 45.0 — 
1.39% Series(b)
Evergy Kansas Central, Inc.203230.5 30.5 — 
1.39% Series(b)
Evergy Kansas South, Inc.202721.9 21.9 — 
2.50% SeriesEvergy Kansas South, Inc.203150.0 50.0 — 
1.39% Series(b)
Evergy Kansas South, Inc.203214.5 14.5 — 
1.39% Series(b)
Evergy Kansas South, Inc.203210.0 10.0 — 
1.432% Series 2007A and 2007B(b)
Evergy Metro, Inc.2035146.5 — 146.5 
2.75% Series 2008Evergy Metro, Inc.203823.4 — 23.4 
Senior Notes 
3.15% Series(g)
Evergy Metro, Inc.2023300.0 — 300.0 
3.65% Series(g)
Evergy Metro, Inc.2025350.0 — 350.0 
6.05% Series (5.78% rate)(a)(g)
Evergy Metro, Inc.2035250.0 — 250.0 
5.30% Series(g)
Evergy Metro, Inc.2041400.0 — 400.0 
4.20% Series(g)
Evergy Metro, Inc.2047300.0 — 300.0 
4.20% Series(g)
Evergy Metro, Inc.2048300.0 — 300.0 
8.27% SeriesEvergy Missouri West, Inc.202180.9 — — 
3.49% Series AEvergy Missouri West, Inc.202536.0 — — 
4.06% Series BEvergy Missouri West, Inc.203360.0 — — 
4.74% Series CEvergy Missouri West, Inc.2043150.0 — — 
3.74% SeriesEvergy Missouri West, Inc.2022100.0 — — 
4.85% Series
Evergy, Inc.(f)
2021350.0 — — 
5.292% Series
Evergy, Inc.(f)
2022287.5 — — 
2.45% SeriesEvergy, Inc.2024800.0 — — 
2.90% Series (3.77% rate)(a)
Evergy, Inc.2029800.0 — — 
Medium Term Notes
7.33% SeriesEvergy Missouri West, Inc.20233.0 — — 
7.17% SeriesEvergy Missouri West, Inc.20237.0 — — 
Fair value adjustment(e)
125.5 — — 
Current maturities(c)
(251.1)(250.0)— 
Unamortized debt discount and debt issuance costs(80.7)(40.8)(24.4)
Total excluding current maturities(d)
$8,746.7 $3,436.1 $2,525.0 
(a)Rate after amortizing gains/losses recognized in OCI on settlements of interest rate hedging instruments.
(b)Variable rate.
(c)Evergy's current maturities total as of December 31, 2020 and 2019, includes $4.4 million and $4.3 million, respectively, of fair value adjustments recorded in connection with purchase accounting for the merger transaction.
(d)At December 31, 2020 and 2019, does not include $50.0 million and $21.9 million of secured Series 2005 Environmental Improvement Revenue Refunding (EIRR) bonds because the bonds were repurchased in September 2015 and are held by Evergy Metro.
(e)Represents the fair value adjustments recorded at Evergy consolidated related to the long-term debt of Great Plains Energy, Evergy Metro and Evergy Missouri West in connection with purchase accounting for the merger transaction. This amount is not part of future principal payments and will amortize over the remaining life of the associated debt instruments.
(f)Originally issued by Great Plains Energy but assumed by Evergy, Inc. as part of the merger transaction.
(g)Effectively secured pursuant to the General Mortgage Indenture and Deed of Trust dated as of December 1, 1986, as supplemented (Evergy Metro Mortgage Indenture) through the issuance of collateral mortgage bonds to the trustee in 2019.
The following table summarizes Evergy's and Evergy Kansas Central's long-term debt of VIEs.
December 31
20202019
(millions)
2.398% due 2021$18.8 $51.1 
Current maturities(18.8)(32.3)
Total excluding current maturities$— $18.8 

Mortgage Bonds
The Evergy Kansas Central and Evergy Kansas South mortgages each contain provisions restricting the amount of first mortgage bonds (FMBs) that could be issued by each entity. Evergy Kansas Central and Evergy Kansas South must be in compliance with such restrictions prior to the issuance of additional first mortgage bonds or other secured indebtedness. The amount of Evergy Kansas Central FMBs authorized by its Mortgage and Deed of Trust, dated July 1, 1939, as supplemented, is subject to certain limitations as described below. The amount of Evergy Kansas South FMBs authorized by the Evergy Kansas South Mortgage and Deed of Trust, dated April 1, 1940, as supplemented and amended, is limited to a maximum of $3.5 billion, unless amended further. FMBs are secured by utility assets. Amounts of additional FMBs that may be issued are subject to property, earnings and certain restrictive provisions, except in connection with certain refundings, of each mortgage. As of December 31, 2020, approximately $780.6 million and $2,828.6 million principal amounts of additional Evergy Kansas Central FMBs or Evergy Kansas South FMBs, respectively, could be issued under the most restrictive provisions of their mortgages.
Evergy Metro has issued mortgage bonds under the Evergy Metro Mortgage Indenture, which creates a mortgage lien on substantially all Evergy Metro's utility plant. Additional Evergy Metro bonds may be issued on the basis of 75% of property additions or retired bonds. As of December 31, 2020, approximately $4,733.1 million principal amount of additional Evergy Metro mortgage bonds could be issued under the most restrictive provisions in the mortgage.
Evergy Missouri West has issued mortgage bonds under the General Mortgage Indenture and Deed of Trust dated April 1, 1946, as supplemented, which creates a mortgage lien on a portion of Evergy Missouri West's utility plant.
In April 2020, Evergy Kansas Central issued, at a discount, $500.0 million of 3.45% FMBs, maturing in 2050 and issued a notice of redemption for its $250.0 million of 5.10% FMBs, which had an original maturity date of July 2020. The proceeds from the issuance of Evergy Kansas Central's $500.0 million of 3.45% FMBs were used to redeem the $250.0 million of 5.10% FMBs in May 2020 and for general corporate purposes.
In May 2020, Evergy Metro issued, at a discount, $400.0 million of 2.25% Mortgage Bonds, maturing in 2030. The proceeds from the issuance of Evergy Metro's $400.0 million of 2.25% Mortgage Bonds were used to repay a portion of Evergy Metro's borrowings under the master credit facility and for general corporate purposes.
Senior Notes
Under the terms of the note purchase agreements for certain Evergy Missouri West senior notes, Evergy Missouri West is required to maintain a consolidated indebtedness to consolidated capitalization ratio, as defined in the agreements, not greater than 0.65 to 1.00. In addition, Evergy Missouri West's priority debt, as defined in the agreements, cannot exceed 15% of consolidated tangible net worth, as defined in the agreements. At December 31, 2020, Evergy Missouri West was in compliance with these covenants.
Scheduled Maturities
Evergy's, Evergy Kansas Central's and Evergy Metro's long-term debt maturities and the long-term debt maturities of VIEs for the next five years are detailed in the following table.
20212022202320242025
(millions)
Evergy(a)
$432.0 $387.5 $439.5 $800.0 $636.0 
Evergy Kansas Central(a)
— — 50.0 — 250.0 
Evergy Metro— — 379.5 — 350.0 
VIEs18.8 — — — — 
(a) Excludes long-term debt maturities of VIEs.