XML 27 R17.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Short-Term Debt and Credit Facilities | 3 Months Ended
--- | ---
Mar. 31, 2018
Short-term Debt [Abstract] |
Short-Term Debt and Credit Facilities | Short-Term Debt and Credit Facilities The Company borrows on a short-term basis, as necessary, by the issuance of commercial paper and by borrowings under its revolving credit agreements. As of March 31, 2018, the Company had $193.9 million of short-term debt as compared to $168.4 million at December 31, 2017. The following table provides information regarding the Company's revolving credit agreements at March 31, 2018.
| Aggregate | Amount | Weighted-Average |  |  |
Entity | Commitment | Outstanding (A) | Interest Rate |  | Expiration |
(In millions) |  |  |  |  |
OGE Energy (B) | $ | 450.0 |  | $ | 193.9 |  | 2.36 | % | (D) | March 8, 2023 | (E)
OG&E (C) | 450.0 |  | 0.3 |  | 0.95 | % | (D) | March 8, 2023 | (E)
Total | $ | 900.0 |  | $ | 194.2 |  | 2.36 | % |  |  |
(A) | Includes direct borrowings under the revolving credit agreements, commercial paper borrowings and letters of credit at March 31, 2018.
(B) | This bank facility is available to back up the Company's commercial paper borrowings and to provide revolving credit borrowings. This bank facility can also be used as a letter of credit facility.
(C) | This bank facility is available to back up OG&E's commercial paper borrowings and to provide revolving credit borrowings. This bank facility can also be used as a letter of credit facility.
(D) | Represents the weighted-average interest rate for the outstanding borrowings under the revolving credit agreements, commercial paper borrowings and letters of credit.
(E) | In March 2017, the Company and OG&E entered into unsecured five-year revolving credit agreements totaling $900.0 million ($450.0 million for the Company and $450.0 million for OG&E). Each of the facilities contained an option, which could be exercised up to two times, to extend the term of the respective facility for an additional year. Effective March 9, 2018, the Company and OG&E utilized one of those extensions to extend the maturity of their respective credit facility from March 8, 2022 to March 8, 2023.
The Company's ability to access the commercial paper market could be adversely impacted by a credit ratings downgrade or major market disruptions. Pricing grids associated with the Company's credit facilities could cause annual fees and borrowing rates to increase if an adverse rating impact occurs. The impact of any future downgrade could include an increase in the costs of the Company's short-term borrowings, but a reduction in the Company's credit ratings would not result in any defaults or accelerations. Any future downgrade could also lead to higher long-term borrowing costs and, if below investment grade, would require the Company to post collateral or letters of credit. OG&E must obtain regulatory approval from the FERC in order to borrow on a short-term basis. OG&E has the necessary regulatory approvals to incur up to $800.0 million in short-term borrowings at any one time for a two-year period beginning January 1, 2017 and ending December 31, 2018.

X
- References No definition available. + Details
Name: | us-gaap_ShortTermBorrowingsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for short-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_ShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration