2018 Q4 Form 10-Q Financial Statement

#000171126918000022 Filed on November 07, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $1.200B $1.583B $794.3M
YoY Change 101.71% 99.23% 3.87%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $222.2M $208.8M $102.9M
YoY Change 116.99% 102.92% 13.45%
% of Gross Profit
Operating Expenses $1.050B $1.049B $529.4M
YoY Change 119.83% 98.22% 7.14%
Operating Profit $150.1M $533.1M $264.9M
YoY Change 22.73% 101.25%
Interest Expense -$85.70M $89.10M $43.40M
YoY Change 111.6% 105.3% -213.32%
% of Operating Profit -57.1% 16.71% 16.38%
Other Income/Expense, Net -$13.30M -$24.30M -$6.600M
YoY Change 600.0% 268.18% -188.0%
Pretax Income $51.10M $419.7M $214.9M
YoY Change -31.78% 95.3% -10.38%
Income Tax $30.70M $64.10M $55.80M
% Of Pretax Income 60.08% 15.27% 25.97%
Net Earnings $18.50M $355.0M $158.3M
YoY Change -45.27% 124.26% 2.33%
Net Earnings / Revenue 1.54% 22.43% 19.93%
Basic Earnings Per Share $1.32 $1.11
Diluted Earnings Per Share $70.50K $1.32 $1.11
COMMON SHARES
Basic Shares Outstanding 263.5M shares 268.6M shares 142.5M shares
Diluted Shares Outstanding 268.8M shares 142.5M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $160.0M $680.0M $3.000M
YoY Change 5233.33% 22566.67% -25.0%
Cash & Equivalents $160.3M $679.7M $3.500M
Short-Term Investments
Other Short-Term Assets $383.0M $407.0M $137.0M
YoY Change 175.54% 197.08% -6.16%
Inventory $511.0M $521.0M $285.0M
Prepaid Expenses
Receivables $464.0M $609.0M $308.0M
Other Receivables $163.0M $103.0M $0.00
Total Short-Term Assets $1.681B $2.319B $733.0M
YoY Change 131.22% 216.37% -3.81%
LONG-TERM ASSETS
Property, Plant & Equipment $18.78B $18.84B $9.672B
YoY Change 96.6% 94.75% 4.02%
Goodwill $2.339B $2.334B
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $396.5M $379.7M $1.220B
YoY Change 61.97% -68.88% 3.13%
Total Long-Term Assets $4.965B $23.76B $10.89B
YoY Change 325.37% 118.11% 3.91%
TOTAL ASSETS
Total Short-Term Assets $1.681B $2.319B $733.0M
Total Long-Term Assets $4.965B $23.76B $10.89B
Total Assets $25.60B $26.08B $11.63B
YoY Change 120.21% 124.3% 3.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $451.5M $303.7M $148.0M
YoY Change 121.11% 105.2% -35.09%
Accrued Expenses $111.0M $120.0M $119.0M
YoY Change -12.6% 0.84% 3.48%
Deferred Revenue
YoY Change
Short-Term Debt $1.104B $871.0M $189.0M
YoY Change 300.0% 360.85% 3.28%
Long-Term Debt Due $705.4M $709.6M $29.00M
YoY Change 2346.9% -80.92%
Total Short-Term Liabilities $2.867B $2.659B $687.0M
YoY Change 248.09% 287.07% -25.08%
LONG-TERM LIABILITIES
Long-Term Debt $6.636B $6.640B $3.768B
YoY Change 79.96% 76.22% 7.69%
Other Long-Term Liabilities $236.7M $231.9M $1.425B
YoY Change 77.57% -83.73% 12.56%
Total Long-Term Liabilities $12.74B $12.77B $5.193B
YoY Change 83.57% 145.85% 8.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.867B $2.659B $687.0M
Total Long-Term Liabilities $12.74B $12.77B $5.193B
Total Liabilities $15.61B $15.43B $7.696B
YoY Change 101.02% 100.45% 3.4%
SHAREHOLDERS EQUITY
Retained Earnings $1.346B $1.453B
YoY Change 14.72%
Common Stock $8.685B $9.236B
YoY Change 217.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.03B $10.69B $3.929B
YoY Change
Total Liabilities & Shareholders Equity $25.60B $26.08B $11.63B
YoY Change 120.21% 124.3% 3.39%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $18.50M $355.0M $158.3M
YoY Change -45.27% 124.26% 2.33%
Depreciation, Depletion And Amortization $222.2M $208.8M $102.9M
YoY Change 116.99% 102.92% 13.45%
Cash From Operating Activities $306.2M $794.4M $379.0M
YoY Change 80.01% 109.6% 4.15%
INVESTING ACTIVITIES
Capital Expenditures -$371.4M -$263.1M -$181.0M
YoY Change 85.7% 45.36% -43.14%
Acquisitions
YoY Change
Other Investing Activities -$6.000M -$9.000M -$900.0K
YoY Change -1100.0% 900.0% 12.5%
Cash From Investing Activities -$377.4M -$272.1M -$181.9M
YoY Change 89.27% 49.59% -42.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -448.3M -1.123B -196.9M
YoY Change -1624.83% 470.19% 327.11%
NET CHANGE
Cash From Operating Activities 306.2M 794.4M 379.0M
Cash From Investing Activities -377.4M -272.1M -181.9M
Cash From Financing Activities -448.3M -1.123B -196.9M
Net Change In Cash -519.5M -600.4M 200.0K
YoY Change -519600.0% -300300.0% -116.67%
FREE CASH FLOW
Cash From Operating Activities $306.2M $794.4M $379.0M
Capital Expenditures -$371.4M -$263.1M -$181.0M
Free Cash Flow $677.6M $1.057B $560.0M
YoY Change 83.09% 88.84% -17.91%

Facts In Submission

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93900000 USD
us-gaap Deferred Income Tax Expense Benefit
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50300000 USD
us-gaap Deferred Income Taxes And Tax Credits
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127000000 USD
us-gaap Deferred Income Taxes And Tax Credits
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47800000 USD
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us-gaap Deferred State And Local Income Tax Expense Benefit
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27000000 USD
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23300000 USD
us-gaap Deferred State And Local Income Tax Expense Benefit
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us-gaap Depreciation And Amortization
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277300000 USD
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193900000 USD
us-gaap Depreciation And Amortization
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411600000 USD
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0.210
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us-gaap Dividends Common Stock Cash
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53800000 USD
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2.03
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1.32
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2.61
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us-gaap Effective Income Tax Rate Continuing Operations
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0.152
us-gaap Effective Income Tax Rate Continuing Operations
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CY2017Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.000
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.000
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0.000
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.004
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us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.000
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us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
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0.004
us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
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0.046
us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Life Insurance
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0.045
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0.024
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0.024
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0.000
us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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-0.005
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0.008
us-gaap Increase Decrease In Allowance For Equity Funds Used During Construction
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us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.043
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0.046
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.047
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us-gaap Effective Income Tax Rate Reconciliation Tax Credits Investment
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us-gaap Effective Income Tax Rate Reconciliation Tax Credits Investment
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0.075
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CY2017Q3 us-gaap Electric Utility Revenue
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us-gaap Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss
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2800000 USD
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4800000 USD
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In the ordinary course of business, Evergy and certain of its subsidiaries enter into various agreements providing financial or performance assurance to third parties on behalf of certain subsidiaries. Such agreements include, for example, guarantees and letters of credit. These agreements are entered into primarily to support or enhance the creditworthiness otherwise attributed to a subsidiary on a stand-alone basis, thereby facilitating the extension of sufficient credit to accomplish the subsidiary's intended business purposes.
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us-gaap Payments To Minority Shareholders
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110200000 USD
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0 USD
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140600000 USD
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6500000 USD
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us-gaap Profit Loss
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300200000 USD
CY2018Q3 us-gaap Profit Loss
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us-gaap Profit Loss
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524900000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9553800000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18836000000 USD
CY2017Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
290700000 USD
CY2018Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
496500000 USD
CY2017Q4 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
99500000 USD
CY2018Q3 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
332500000 USD
CY2017Q4 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
685400000 USD
CY2018Q3 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
1518100000 USD
CY2017Q4 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
11600000 USD
CY2018Q3 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
117200000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
14600000 USD
CY2017Q4 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
1094000000 USD
CY2018Q3 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
2357100000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
2600000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
2900000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
125000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
127400000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
100000 USD
CY2017Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
100000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
100000 USD
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
100000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1173300000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1452500000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1567000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3051400000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6700000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
25200000 USD
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
204825 shares
CY2017Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
275700000 USD
CY2018Q3 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
675900000 USD
us-gaap Stock Issued1
StockIssued1
4900000 USD
us-gaap Stock Issued1
StockIssued1
400000 USD
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
6979900000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
600000 USD
CY2018Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
60000000 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
6900000 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
486100000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
3908100000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
10688900000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3833200000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3878900000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3860400000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10648800000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
600000 USD
CY2017Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
41800000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
126400000 USD
CY2018Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
83000000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
183500000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
87700000 USD
CY2018Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
282100000 USD
CY2017Q4 us-gaap Transfers Accounted For As Secured Borrowings Assets Carrying Amount
TransfersAccountedForAsSecuredBorrowingsAssetsCarryingAmount
0 USD
CY2018Q3 us-gaap Transfers Accounted For As Secured Borrowings Assets Carrying Amount
TransfersAccountedForAsSecuredBorrowingsAssetsCarryingAmount
195000000 USD
CY2017Q4 us-gaap Transfers Accounted For As Secured Borrowings Associated Liabilities Carrying Amount
TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
0 USD
CY2018Q3 us-gaap Transfers Accounted For As Secured Borrowings Associated Liabilities Carrying Amount
TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
195000000 USD
CY2017Q3 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
140600000 USD
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
415600000 USD
CY2018Q3 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
330400000 USD
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
754200000 USD
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
200000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
100000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
142500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
142500000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
268800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
198000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
142500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
142500000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
268600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
197900000 shares

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