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Investment in Unconsolidated Affiliate | 12 Months Ended
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Dec. 31, 2020
Schedule of Equity Method Investments [Line Items] |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | Investment in Unconsolidated Affiliates In 2013, OGE Energy, CenterPoint and the ArcLight group formed Enable as a private limited partnership, and OGE Energy and the ArcLight group indirectly contributed 100 percent of the equity interests in Enogex LLC to Enable. OGE Energy determined that its contribution of Enogex LLC to Enable met the requirements of being in substance real estate and recorded the contribution at historical cost. The formation of Enable was considered a business combination, and CenterPoint was the acquirer of Enogex Holdings for accounting purposes. Under this method, the fair value of the consideration paid by CenterPoint for Enogex Holdings was allocated to the assets acquired and liabilities assumed based on their fair value. Enogex Holdings' assets, liabilities and equity were accordingly adjusted to estimated fair value, resulting in an increase to Enable's equity of $2.2 billion. Since the contribution of Enogex LLC to Enable was recorded at historical cost, the effects of the amortization and depreciation expense associated with the fair value adjustments on Enable's results of operations have been eliminated in OGE Energy's recording of its equity in earnings of Enable. As prior real estate sales accounting guidance was superseded by ASU 2017-05, "Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets," OGE Energy recognizes gains or losses on sales or dilution events in its investment in Enable within OGE Energy's earnings, net of proportional basis difference recognition. At December 31, 2020, OGE Energy owned 111.0 million common units, or 25.5 percent, of Enable's outstanding common units. On December 31, 2020, Enable's common unit price closed at $5.26. OGE Energy recorded equity in losses of unconsolidated affiliates of $668.0 million for the year ended December 31, 2020 compared to equity in earnings of unconsolidated affiliates of $113.9 million and $152.8 million for the years ended 2019 and 2018, respectively. Equity in earnings (losses) of unconsolidated affiliates includes OGE Energy's share of Enable's earnings adjusted for the amortization of the basis difference of OGE Energy's original investment in Enogex LLC and its underlying equity in the net assets of Enable, as well as any impairment OGE Energy records on its investment in Enable. Equity in earnings (losses) of unconsolidated affiliates is also adjusted for the elimination of the Enogex Holdings fair value adjustments, as described above. These amortizations may also include gain or loss on dilution, net of proportional basis difference recognition. OGE Energy evaluates its equity method investment for impairment when factors indicate that a decline in the value of its investment has occurred and the carrying amount of its investment may not be recoverable. An impairment loss, based on the excess of the carrying value over estimated fair value of the investment, is recognized in earnings when an impairment is deemed to be other than temporary. Considerable judgment is used in determining if an impairment loss is other than temporary and the amount of any impairment. Effective March 31, 2020, OGE Energy estimated the fair value of its investment in Enable was below the book value and concluded the decline in value was not temporary due to the severity of the decline and the recent rapid deterioration, as well as the near term future outlook, of the midstream oil and gas industry. Accordingly, OGE Energy recorded a $780.0 million impairment on its investment in Enable in March 2020, which is included in Equity in Earnings (Losses) of Unconsolidated Affiliates in OGE Energy's 2020 income statement. Further information concerning the fair value method used to measure the impairment on OGE Energy's investment in Enable can be found in Note 7. The following tables present summarized unaudited financial information for 100 percent of Enable as of December 31, 2020 and 2019 and for the years ended December 31, 2020, 2019 and 2018.
| December 31,
Balance Sheet | 2020 | 2019
(In millions) |  |
Current assets | $ | 381 |  | $ | 389 |
Non-current assets | $ | 11,348 |  | $ | 11,877 |
Current liabilities | $ | 582 |  | $ | 780 |
Non-current liabilities | $ | 4,052 |  | $ | 4,077 |
| Year Ended December 31,
Income Statement | 2020 | 2019 | 2018
(In millions) |  |  |
Total revenues | $ | 2,463 |  | $ | 2,960 |  | $ | 3,431 |
Cost of natural gas and NGLs | $ | 965 |  | $ | 1,279 |  | $ | 1,819 |
Operating income | $ | 465 |  | $ | 569 |  | $ | 648 |
Net income | $ | 52 |  | $ | 360 |  | $ | 485 |
The following table presents a reconciliation of OGE Energy's equity in earnings (losses) of unconsolidated affiliates for the years ended December 31, 2020, 2019 and 2018. For further discussion of Enable's net income, see "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations - Results of Operations - OGE Holdings (Natural Gas Midstream Operations)."
| Year Ended December 31,
(In millions) | 2020 | 2019 | 2018
Enable net income | $ | 52.0 |  | $ | 360.0 |  | $ | 485.3 |
OGE Energy's percent ownership at period end | 25.5 | % | 25.5 | % | 25.6 | %
OGE Energy's portion of Enable net income | $ | 13.2 |  | $ | 91.8 |  | $ | 124.4 |
Amortization of basis difference and dilution recognition (A) | 98.8 |  | 22.1 |  | 28.4 |
Impairment of OGE Energy's equity method investment in Enable | (780.0) |  | — |  | — |
Equity in earnings (losses) of unconsolidated affiliates (B) | $ | (668.0) |  | $ | 113.9 |  | $ | 152.8 |
(A) Includes loss on dilution, net of proportional basis difference recognition. (B)For the year ended December 31, 2020, Enable recorded a $225.0 million impairment on its SESH equity method investment. Enable estimated the fair value of this equity method investment was below the carrying value at September 30, 2020 and concluded the decline in value was other than temporary due to the expiration of a transportation contract and the current status of renewal negotiations. The impairment ran through OGE Energy's portion of Enable net income and was offset by basis differences that flow through the amortization of basis difference and dilution recognition line item above. The following table presents a reconciliation of the difference between OGE Energy's investment in Enable and its underlying equity in the net assets of Enable (basis difference) from December 31, 2019 to December 31, 2020. The basis difference is being amortized over approximately 30 years.
(In millions) |  |
Basis difference at December 31, 2019 |  | $ | 652.5 |
Amortization of basis difference (A) |  | (100.2) |
Impairment of OGE Energy's equity method investment in Enable |  | 780.0 |
Basis difference at December 31, 2020 |  | $ | 1,332.3 |
(A) Includes proportional basis difference recognition due to dilution. On April 1, 2020, Enable announced a 50 percent reduction to its quarterly distribution in order to strengthen its balance sheet and increase its annualized retained cash flow. See "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations - Recent Developments" for further discussion of OGE Energy's response. On February 12, 2021, Enable announced a quarterly dividend distribution of $0.16525 per unit on its outstanding common units, which is unchanged from the previous quarter. If cash distributions to Enable's unitholders exceed $0.330625 per unit in any quarter, the general partner will receive increasing percentages, up to 50 percent, of the cash Enable distributes in excess of that amount. OGE Energy is entitled to 60 percent of those "incentive distributions." In certain circumstances, the general partner has the right to reset the minimum quarterly distribution and the target distribution levels at which the incentive distributions receive increasing percentages to higher levels based on Enable's cash distributions at the time of the exercise of this reset election. Distributions received from Enable were $91.7 million, $144.0 million and $141.2 million during the years ended December 31, 2020, 2019 and 2018, respectively. On February 16, 2021, Enable entered into a definitive merger agreement with Energy Transfer, pursuant to which, and subject to the conditions of the merger agreement, all outstanding common units of Enable will be acquired by Energy Transfer in an all-equity transaction. Under the terms of the merger agreement, Enable's common unitholders, including OGE Energy, will receive 0.8595 of one common unit representing limited partner interests in Energy Transfer for each common unit of Enable. The transaction is anticipated to close in 2021. The transaction is subject to the receipt of the required approvals from the holders of a majority of Enable's common units, anti-trust approvals and other customary closing conditions. Assuming the transaction closes, OGE Energy will own approximately three percent of Energy Transfer's outstanding limited partner units in lieu of the 25.5 percent interest in Enable that it currently owns. Contemporaneously with the execution of the merger agreement, OGE Energy entered into a support agreement with Enable and Energy Transfer in which OGE Energy has agreed to vote its common units in favor of the merger. In addition, the merger agreement contemplates a registration rights agreement with Energy Transfer to be executed at the closing of the merger that provides for customary resale registration, demand registration and piggy-back registration rights with respect to Energy Transfer common units issued to OGE Energy in the merger.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
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