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v3.23.2

Report of Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Summary of OGE Energy's Business Segments | The following tables present the results of OGE Energy's business segments for the three and six months ended June 30, 2023 and 2022.
Three Months Ended June 30, 2023 |  | Electric Company |  |  | Other Operations |  |  | Eliminations |  |  | Total |
(In millions) |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 605.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 605.0 |
Fuel, purchased power and direct transmission expense |  |  | 181.8 |  |  |  | — |  |  |  | — |  |  |  | 181.8 |
Other operation and maintenance |  |  | 128.6 |  |  |  | (0.3 | ) |  |  | — |  |  |  | 128.3 |
Depreciation and amortization |  |  | 124.1 |  |  |  | — |  |  |  | — |  |  |  | 124.1 |
Taxes other than income |  |  | 23.5 |  |  |  | 0.9 |  |  |  | — |  |  |  | 24.4 |
Operating income (loss) |  |  | 147.0 |  |  |  | (0.6 | ) |  |  | — |  |  |  | 146.4 |
Other income |  |  | 13.2 |  |  |  | 4.4 |  |  |  | (3.1 | ) |  |  | 14.5 |
Interest expense |  |  | 52.1 |  |  |  | 8.7 |  |  |  | (3.1 | ) |  |  | 57.7 |
Income tax expense (benefit) |  |  | 16.2 |  |  |  | (1.4 | ) |  |  | — |  |  |  | 14.8 |
Net income (loss) |  | $ | 91.9 |  |  | $ | (3.5 | ) |  | $ | — |  |  | $ | 88.4 |
Total assets |  | $ | 12,492.9 |  |  | $ | 686.8 |  |  | $ | (575.1 | ) |  | $ | 12,604.6 |
Three Months Ended June 30, 2022 |  | Electric Company |  |  | Natural Gas Midstream Operations |  |  | Other Operations |  |  | Eliminations |  |  | Total |
(In millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 803.7 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 803.7 |
Fuel, purchased power and direct transmission expense |  |  | 393.3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 393.3 |
Other operation and maintenance |  |  | 118.3 |  |  |  | 0.5 |  |  |  | (0.7 | ) |  |  | — |  |  |  | 118.1 |
Depreciation and amortization |  |  | 111.6 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 111.6 |
Taxes other than income |  |  | 23.3 |  |  |  | 0.1 |  |  |  | 0.7 |  |  |  | — |  |  |  | 24.1 |
Operating income (loss) |  |  | 157.2 |  |  |  | (0.6 | ) |  |  | — |  |  |  | — |  |  |  | 156.6 |
Loss on equity securities |  |  | — |  |  |  | (39.6 | ) |  |  | — |  |  |  | — |  |  |  | (39.6 | )
Other income (expense) |  |  | (0.3 | ) |  |  | 12.4 |  |  |  | — |  |  |  | (0.4 | ) |  |  | 11.7 |
Interest expense |  |  | 39.8 |  |  |  | — |  |  |  | 3.0 |  |  |  | (0.4 | ) |  |  | 42.4 |
Income tax expense (benefit) |  |  | 16.4 |  |  |  | (8.9 | ) |  |  | 5.7 |  |  |  | — |  |  |  | 13.2 |
Net income (loss) |  | $ | 100.7 |  |  | $ | (18.9 | ) |  | $ | (8.7 | ) |  | $ | — |  |  | $ | 73.1 |
Total assets |  | $ | 12,317.2 |  |  | $ | 401.7 |  |  | $ | 751.9 |  |  | $ | (632.8 | ) |  | $ | 12,838.0 |
Six Months Ended June 30, 2023 |  | Electric Company |  |  | Other Operations |  |  | Eliminations |  |  | Total |
(In millions) |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 1,162.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,162.2 |
Fuel, purchased power and direct transmission expense |  |  | 382.4 |  |  |  | — |  |  |  | — |  |  |  | 382.4 |
Other operation and maintenance |  |  | 260.1 |  |  |  | (1.4 | ) |  |  | — |  |  |  | 258.7 |
Depreciation and amortization |  |  | 245.3 |  |  |  | — |  |  |  | — |  |  |  | 245.3 |
Taxes other than income |  |  | 50.6 |  |  |  | 2.3 |  |  |  | — |  |  |  | 52.9 |
Operating income (loss) |  |  | 223.8 |  |  |  | (0.9 | ) |  |  | — |  |  |  | 222.9 |
Other income |  |  | 28.5 |  |  |  | 8.9 |  |  |  | (6.5 | ) |  |  | 30.9 |
Interest expense |  |  | 97.8 |  |  |  | 14.2 |  |  |  | (6.5 | ) |  |  | 105.5 |
Income tax expense (benefit) |  |  | 22.8 |  |  |  | (1.2 | ) |  |  | — |  |  |  | 21.6 |
Net income (loss) |  | $ | 131.7 |  |  | $ | (5.0 | ) |  | $ | — |  |  | $ | 126.7 |
Total assets |  | $ | 12,492.9 |  |  | $ | 686.8 |  |  | $ | (575.1 | ) |  | $ | 12,604.6 |
Six Months Ended June 30, 2022 |  | Electric Company |  |  | Natural Gas Midstream Operations |  |  | Other Operations |  |  | Eliminations |  |  | Total |
(In millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 1,393.0 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,393.0 |
Fuel, purchased power and direct transmission expense |  |  | 649.0 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 649.0 |
Other operation and maintenance |  |  | 233.8 |  |  |  | 1.2 |  |  |  | (1.9 | ) |  |  | — |  |  |  | 233.1 |
Depreciation and amortization |  |  | 219.0 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 219.0 |
Taxes other than income |  |  | 50.1 |  |  |  | 0.1 |  |  |  | 2.0 |  |  |  | — |  |  |  | 52.2 |
Operating income (loss) |  |  | 241.1 |  |  |  | (1.3 | ) |  |  | (0.1 | ) |  |  | — |  |  |  | 239.7 |
Gain on equity securities |  |  | — |  |  |  | 242.7 |  |  |  | — |  |  |  | — |  |  |  | 242.7 |
Other income |  |  | 0.4 |  |  |  | 21.1 |  |  |  | — |  |  |  | (0.5 | ) |  |  | 21.0 |
Interest expense |  |  | 78.0 |  |  |  | — |  |  |  | 5.0 |  |  |  | (0.5 | ) |  |  | 82.5 |
Income tax expense (benefit) |  |  | 23.8 |  |  |  | 51.3 |  |  |  | (6.8 | ) |  |  | — |  |  |  | 68.3 |
Net income |  | $ | 139.7 |  |  | $ | 211.2 |  |  | $ | 1.7 |  |  | $ | — |  |  | $ | 352.6 |
Total assets |  | $ | 12,317.2 |  |  | $ | 401.7 |  |  | $ | 751.9 |  |  | $ | (632.8 | ) |  | $ | 12,838.0 |

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