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Retirement Plans and Postretirement Benefit Plans | 3 Months Ended
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Mar. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Retirement Plans and Postretirement Benefit Plans In accordance with ASC Topic 715, "Compensation - Retirement Benefits," a one-time settlement charge is required to be recorded by an organization when lump sum payments or other settlements that relieve the organization from the responsibility for the pension benefit obligation during the plan year exceed the service cost and interest cost components of the organization's net periodic pension cost. During the three months ended March 31, 2021, the Registrants experienced an increase in both the number of employees electing to retire and the amount of lump sum payments paid to such employees upon retirement, which resulted in the Registrants recording pension plan settlement charges as presented in the Pension Plan net periodic benefit cost table below. The pension settlement charges did not require a cash outlay by the Registrants and did not increase total pension expense over time, as the charge was an acceleration of costs that otherwise would be recognized as pension expense in future periods. Net Periodic Benefit Cost The following tables present the net periodic benefit cost components, before consideration of capitalized amounts, of OGE Energy's Pension Plan, Restoration of Retirement Income Plan and postretirement benefit plans that are included in the condensed financial statements. Service cost is presented within Other Operation and Maintenance, and the remaining net periodic benefit cost components as listed in the following tables are presented within Other Net Periodic Benefit Expense in the statements of income. OG&E recovers specific amounts of pension and postretirement medical costs in rates approved in its Oklahoma rate reviews. In accordance with approved orders, OG&E defers the difference between actual pension and postretirement medical expenses and the amount approved in its last Oklahoma rate review as a regulatory asset or regulatory liability. These amounts have been recorded in the Pension tracker in the regulatory assets and liabilities table in Note 1 and within Other Net Periodic Benefit Expense in the statements of income.
|  |  | OGE Energy |  | OG&E
|  |  | Pension Plan |  |  |  | Restoration of Retirement Income Plan |  | Pension Plan |  | Restoration of Retirement Income Plan
|  | Three Months Ended |  |  | Three Months Ended |  | Three Months Ended |  | Three Months Ended
|  | March 31, |  |  | March 31, |  | March 31, |  | March 31,
(In millions) |  |  | 2021 | 2020 |  |  |  | 2021 | 2020 |  | 2021 | 2020 |  | 2021 | 2020
Service cost |  |  | $ | 3.0 |  | $ | 3.7 |  |  |  |  | $ | 0.1 |  | $ | 0.2 |  |  | $ | 2.1 |  | $ | 2.6 |  |  | $ | — |  | $ | 0.1 |
Interest cost |  |  | 3.5 |  | 4.6 |  |  |  |  | — |  | 0.1 |  |  | 2.5 |  | 3.4 |  |  | — |  | — |
Expected return on plan assets |  |  | (8.4) |  | (9.4) |  |  |  |  | — |  | — |  |  | (6.1) |  | (7.1) |  |  | — |  | — |
Amortization of net loss |  |  | 2.8 |  | 3.8 |  |  |  |  | 0.1 |  | 0.1 |  |  | 2.0 |  | 2.8 |  |  | — |  | 0.1 |
Settlement cost |  |  | 26.4 |  | — |  |  |  |  | — |  | — |  |  | 22.2 |  | — |  |  | — |  | — |
Total net periodic benefit cost |  |  | 27.3 |  | 2.7 |  |  |  |  | 0.2 |  | 0.4 |  |  | 22.7 |  | 1.7 |  |  | — |  | 0.2 |
Less: Amount paid by unconsolidated affiliates (A) |  |  | 0.1 |  | 0.5 |  |  |  |  | — |  | — |  |  |  |  |  |  |
Plus: Amount allocated from OGE Energy (A) |  |  |  |  |  |  |  |  |  |  | 3.9 |  | 0.5 |  |  | 0.2 |  | 0.2 |
Net periodic benefit cost |  |  | $ | 27.2 |  | $ | 2.2 |  |  |  |  | $ | 0.2 |  | $ | 0.4 |  |  | $ | 26.6 |  | $ | 2.2 |  |  | $ | 0.2 |  | $ | 0.4 |
(A)"Amount paid by unconsolidated affiliates" is only applicable to OGE Energy. "Amount allocated from OGE Energy" is only applicable to OG&E. In addition to the net periodic benefit cost amounts recognized, as presented in the table above, for the Pension and Restoration of Retirement Income Plans for the three months ended March 31, 2021 and 2020, the Registrants recognized the following:
|  | Three Months Ended March 31,
(In millions) |  |  | 2021 | 2020
Increase (decrease) of pension expense to maintain allowed recoverable amount in Oklahoma jurisdiction (A) |  |  | $ | (20.7) |  | $ | 1.7 |
Deferral of pension expense related to pension settlement charges: |  |  |  |
Oklahoma jurisdiction (A) |  |  | $ | 23.7 |  | $ | — |
Arkansas jurisdiction (A) |  |  | $ | 2.2 |  | $ | — |
(A) Included in the pension regulatory asset or liability in each jurisdiction, as indicated in the regulatory assets and liabilities table in Note 1.
|  |  | OGE Energy |  | OG&E |
|  |  | Postretirement Benefit Plans |  | Postretirement Benefit Plans
|  | Three Months Ended |  | Three Months Ended |
|  | March 31, |  | March 31, |
(In millions) |  |  | 2021 | 2020 |  | 2021 | 2020 |
Service cost |  |  | $ | 0.1 |  | $ | 0.1 |  |  | $ | 0.1 |  | $ | — |  |
Interest cost |  |  | 0.8 |  | 1.1 |  |  | 0.6 |  | 0.8 |  |
Expected return on plan assets |  |  | (0.5) |  | (0.5) |  |  | (0.4) |  | (0.4) |  |
Amortization of net loss |  |  | 0.7 |  | 0.6 |  |  | 0.7 |  | 0.7 |  |
Amortization of unrecognized prior service cost (A) |  |  | (1.7) |  | (2.1) |  |  | (1.3) |  | (1.5) |  |
Total net periodic benefit cost |  |  | (0.6) |  | (0.8) |  |  | (0.3) |  | (0.4) |  |
Less: Amount paid by unconsolidated affiliates (B) |  |  | (0.1) |  | (0.2) |  |  |  |  |
Plus: Amount allocated from OGE Energy (B) |  |  |  |  |  | (0.1) |  | (0.2) |  |
Net periodic benefit cost |  |  | $ | (0.5) |  | $ | (0.6) |  |  | $ | (0.4) |  | $ | (0.6) |  |
(A)Unamortized prior service cost is amortized on a straight-line basis over the average remaining service period to the first eligibility age of participants who are expected to receive a benefit and are active at the date of the plan amendment. (B)"Amount paid by unconsolidated affiliates" is only applicable to OGE Energy. "Amount allocated from OGE Energy" is only applicable to OG&E. In addition to the net periodic benefit income amounts recognized, as presented in the table above, for the postretirement benefit plans for the three months ended March 31, 2021 and 2020, the Registrants recognized the following:
|  | Three Months Ended March 31,
(In millions) |  |  | 2021 | 2020
Increase of postretirement expense to maintain allowed recoverable amount in Oklahoma jurisdiction (A) |  |  | $ | 0.1 |  | $ | 0.2 |
(A) Included in the Pension tracker, as presented in the regulatory assets and liabilities table in Note 1.
|  |  | OGE Energy |  | OG&E
|  | Three Months Ended |  | Three Months Ended
|  | March 31, |  | March 31,
(In millions) |  |  | 2021 | 2020 |  | 2021 | 2020
Capitalized portion of net periodic pension benefit cost |  |  | $ | 0.8 |  | $ | 1.0 |  |  | $ | 0.7 |  | $ | 0.9 |
Capitalized portion of net periodic postretirement benefit cost |  |  | $ | 0.1 |  | $ | — |  |  | $ | — |  | $ | — |
Pension Plan Funding In January 2021, OGE Energy made a $40.0 million contribution to its Pension Plan, of which $30.0 million was attributed to OG&E, and has not determined whether it will need to make any additional contributions to the Pension Plan in 2021. OGE Energy could be required to make additional contributions if the value of its pension trust and postretirement benefit plan trust assets are adversely impacted by a major market disruption in the future.

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