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Stock Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Stock-Based Compensation [Abstract] |
Schedule of Pre-tax Compensation Expense and Related Income Tax Benefit | The following table presents the Registrants' pre-tax compensation expense and related income tax benefit for the years ended December 31, 2022, 2021 and 2020 related to performance units and restricted stock units for the Registrants' employees.
|  | OGE Energy |  |  | OG&E |
Year Ended December 31 (In millions) |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2022 |  |  | 2021 |  |  | 2020 |
Performance units: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total shareholder return |  | $ | 7.2 |  |  | $ | 7.5 |  |  | $ | 7.9 |  |  | $ | 2.2 |  |  | $ | 1.8 |  |  | $ | 2.3 |
Earnings per share (A) |  |  | — |  |  |  | — |  |  |  | 1.0 |  |  |  | — |  |  |  | — |  |  |  | 0.3 |
Total performance units |  |  | 7.2 |  |  |  | 7.5 |  |  |  | 8.9 |  |  |  | 2.2 |  |  |  | 1.8 |  |  |  | 2.6 |
Restricted stock units |  |  | 2.5 |  |  |  | 2.3 |  |  |  | 0.9 |  |  |  | 0.7 |  |  |  | 0.4 |  |  |  | 0.4 |
Total compensation expense |  | $ | 9.7 |  |  | $ | 9.8 |  |  | $ | 9.8 |  |  | $ | 2.9 |  |  | $ | 2.2 |  |  | $ | 3.0 |
Income tax benefit |  | $ | 2.3 |  |  | $ | 2.5 |  |  | $ | 2.5 |  |  | $ | 0.7 |  |  | $ | 0.6 |  |  | $ | 0.8 |
(A) In 2019, the Compensation Committee of OGE Energy's Board of Directors voted to grant restricted stock units in lieu of performance units based on earnings per share. The final grants of performance units based on earnings per share vested as of December 31, 2020 and were paid out in March 2021.
Schedule of Performance Units Granted and Assumptions Used to Calculate Grant Date Fair Value of Performance Units | The following table presents the number of performance units granted based on total shareholder return and the assumptions used to calculate the grant date fair value of the performance units based on total shareholder return.
| OGE Energy |  |  | OG&E |
| 2022 |  | 2021 |  | 2020 |  |  | 2022 |  | 2021 |  | 2020 |
Number of units granted |  | 216,437 |  |  | 249,909 |  |  | 201,552 |  |  |  | 60,923 |  |  | 68,720 |  |  | 67,975 |
Fair value of units granted | $ | 41.10 |  | $ | 38.14 |  | $ | 38.03 |  |  | $ | 41.10 |  | $ | 38.14 |  | $ | 38.03 |
Expected dividend yield |  | 4.8 | % |  | 4.7 | % |  | 3.5 | % |  |  | 4.8 | % |  | 4.7 | % |  | 3.5 | %
Expected price volatility |  | 29.0 | % |  | 29.0 | % |  | 15.0 | % |  |  | 29.0 | % |  | 29.0 | % |  | 15.0 | %
Risk-free interest rate |  | 1.71 | % |  | 0.22 | % |  | 1.17 | % |  |  | 1.71 | % |  | 0.22 | % |  | 1.17 | %
Expected life of units (in years) |  | 2.85 |  |  | 2.84 |  |  | 2.85 |  |  |  | 2.85 |  |  | 2.85 |  |  | 2.85 |
Schedule of Restricted Stock Units Granted and Grant Date Fair Value | The following table presents the number of restricted stock units granted and the grant date fair value.
|  | OGE Energy |  |  | OG&E |
|  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2022 |  |  | 2021 |  |  | 2020 |
Restricted stock units granted |  |  | 116,539 |  |  |  | 89,197 |  |  |  | 67,193 |  |  |  | 32,804 |  |  |  | 22,911 |  |  |  | 22,665 |
Fair value of restricted stock units granted |  | $ | 35.72 |  |  | $ | 31.11 |  |  | $ | 43.69 |  |  | $ | 35.72 |  |  | $ | 30.91 |  |  | $ | 43.69 |
Schedule of Activity for Performance Units and Restricted Stock Units | The following tables present a summary of the activity for the Registrants' performance units and restricted stock units for the year ended December 31, 2022. The table designated as "OGE Energy" below includes the OG&E standalone activity, as OGE Energy represents consolidated results.
OGE Energy | Performance Units |  |  | Restricted Stock Units |
(Dollars in millions) | Number of Units |  |  | Aggregate Intrinsic Value |  |  | Number of Shares |  |  | Aggregate Intrinsic Value |
Units/shares outstanding at 12/31/21 |  | 581,252 |  |  |  |  |  |  | 133,671 |  |  |  |
Granted |  | 216,437 |  | (A) |  |  |  |  | 116,539 |  |  |  |
Converted |  | (172,748 | ) | (B) | $ | — |  |  | N/A |  |  |  |
Vested | N/A |  |  |  |  |  |  | (47,995 | ) |  | $ | 1.9 |
Forfeited |  | (16,566 | ) |  |  |  |  |  | (12,732 | ) |  |  |
Units/shares outstanding at 12/31/22 |  | 608,375 |  |  | $ | 34.1 |  |  |  | 189,483 |  |  | $ | 7.5 |
Units/shares fully vested at 12/31/22 |  | 161,690 |  | (C) | $ | 3.7 |  |  | N/A |  |  | N/A |
OG&E | Performance Units |  |  | Restricted Stock Units |
(Dollars in millions) | Number of Units |  |  | Aggregate Intrinsic Value |  |  | Number of Shares |  |  | Aggregate Intrinsic Value |
Units/shares outstanding at 12/31/21 |  | 161,310 |  |  |  |  |  |  | 35,613 |  |  |  |
Granted |  | 60,923 |  | (A) |  |  |  |  | 32,804 |  |  |  |
Converted |  | (48,195 | ) | (B) | $ | — |  |  | N/A |  |  |  |
Vested | N/A |  |  |  |  |  |  | (11,807 | ) |  | $ | 0.5 |
Forfeited |  | (4,217 | ) |  |  |  |  |  | (4,342 | ) |  |  |
Employee migration |  | 802 |  | (D) |  |  |  |  | 491 |  | (D) |  |
Units/shares outstanding at 12/31/22 |  | 170,623 |  |  | $ | 9.6 |  |  |  | 52,759 |  |  | $ | 2.1 |
Units/shares fully vested at 12/31/22 |  | 44,550 |  | (C) | $ | 1.0 |  |  | N/A |  |  | N/A |
(A) For performance units, this represents the target number of performance units granted. Actual number of performance units earned, if any, is dependent upon performance and may range from zero percent to 200 percent of the target. (B) These amounts represent performance units that were canceled at December 31, 2021 due to the performance metric threshold not being met. (C) These amounts represent performance units that vested at December 31, 2022. Actual expected amounts to be paid out in 2023 will differ based on the percentage at which the performance metric was met and are dependent upon Compensation Committee approval. (D) Due to certain employees transferring between OG&E and OGE Energy.
Summary of Activity for Non-vested Performance Units and Restricted Stock Units | The following tables present a summary of the activity for the Registrants' non-vested performance units and restricted stock units for the year ended December 31, 2022. The table designated as "OGE Energy" below includes the OG&E standalone activity, as OGE Energy represents consolidated results.
OGE Energy | Performance Units |  |  | Restricted Stock Units |
| Number of Units |  |  | Weighted-Average Grant Date Fair Value |  |  | Number of Shares |  |  | Weighted-Average Grant Date Fair Value |
Units/shares non-vested at 12/31/21 |  | 408,504 |  |  | $ | 38.05 |  |  |  | 133,671 |  |  | $ | 35.64 |
Granted |  | 216,437 |  | (A) | $ | 41.10 |  |  |  | 116,539 |  |  | $ | 35.72 |
Vested |  | (161,690 | ) |  | $ | 38.04 |  |  |  | (47,995 | ) |  | $ | 39.63 |
Forfeited |  | (16,566 | ) |  | $ | 39.45 |  |  |  | (12,732 | ) |  | $ | 35.95 |
Units/shares non-vested at 12/31/22 |  | 446,685 |  |  | $ | 39.53 |  |  |  | 189,483 |  |  | $ | 33.75 |
OG&E | Performance Units |  |  | Restricted Stock Units |
| Number of Units |  |  | Weighted-Average Grant Date Fair Value |  |  | Number of Shares |  |  | Weighted-Average Grant Date Fair Value |
Units/shares non-vested at 12/31/21 |  | 113,115 |  |  | $ | 38.10 |  |  |  | 35,613 |  |  | $ | 35.52 |
Granted |  | 60,923 |  | (A) | $ | 41.10 |  |  |  | 32,804 |  |  | $ | 35.72 |
Vested |  | (44,550 | ) |  | $ | 38.03 |  |  |  | (11,807 | ) |  | $ | 39.71 |
Forfeited |  | (4,217 | ) |  | $ | 39.96 |  |  |  | (4,342 | ) |  | $ | 35.93 |
Employee migration |  | 802 |  | (B) | $ | 42.18 |  |  |  | 491 |  | (B) | $ | 34.83 |
Units/shares non-vested at 12/31/22 |  | 126,073 |  |  | $ | 39.53 |  |  |  | 52,759 |  |  | $ | 33.78 |
(A) For performance units, this represents the target number of performance units granted. Actual number of performance units earned, if any, is dependent upon performance and may range from zero percent to 200 percent of the target. (B) Due to certain employees transferring between OG&E and OGE Energy.
Summary of Fair Value for Vested Performance Units and Restricted Stock Units | The following table presents a summary of the Registrants' fair value for vested performance units and restricted stock units.
|  | OGE Energy |  |  | OG&E |
Year Ended December 31 (In millions) |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2022 |  |  | 2021 |  |  | 2020 |
Performance units: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total shareholder return |  | $ | 6.2 |  |  | $ | 8.1 |  |  | $ | 8.7 |  |  | $ | 1.7 |  |  | $ | 2.3 |  |  | $ | 2.8 |
Earnings per share |  | $ | — |  |  | $ | — |  |  | $ | 2.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 0.8 |
Restricted stock units |  | $ | 2.1 |  |  | $ | 2.2 |  |  | $ | 0.1 |  |  | $ | 0.5 |  |  | $ | 0.5 |  |  | $ | 0.1 |
Summary of Unrecognized Compensation Cost and Weighted-average Periods Over which Compensation Cost is Expected to be Recognized | The following table presents a summary of the Registrants' unrecognized compensation cost for non-vested performance units and restricted stock units and the weighted-average periods over which the compensation cost is expected to be recognized.
|  | OGE Energy |  |  | OG&E |
December 31, 2022 |  | Unrecognized Compensation Cost (In millions) |  |  | Weighted Average to be Recognized (In years) |  |  | Unrecognized Compensation Cost (In millions) |  |  | Weighted Average to be Recognized (In years) |
Performance units |  | $ | 7.7 |  |  |  | 1.66 |  |  | $ | 2.2 |  |  |  | 1.65 |
Restricted stock units |  |  | 3.5 |  |  |  | 1.76 |  |  |  | 0.7 |  |  |  | 1.77 |
Total unrecognized compensation cost |  | $ | 11.2 |  |  |  |  |  | $ | 2.9 |  |  |  |

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