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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues from contracts with customers $ 589.2 $ 791.0 $ 1,133.8 $ 1,369.1
Other revenues 15.8 12.7 28.4 23.9
Revenues, Total 605.0 803.7 1,162.2 1,393.0
FUEL, PURCHASED POWER AND DIRECT TRANSMISSION EXPENSE 181.8 393.3 382.4 649.0
OPERATING EXPENSES        
Other operation and maintenance 128.3 118.1 258.7 233.1
Depreciation and amortization 124.1 111.6 245.3 219.0
Taxes other than income 24.4 24.1 52.9 52.2
Operating expenses 276.8 253.8 556.9 504.3
OPERATING INCOME 146.4 156.6 222.9 239.7
OTHER INCOME (EXPENSE)        
Allowance for equity funds used during construction 5.1 0.9 9.6 2.2
Other net periodic benefit income (expense) 1.1 (2.7) 2.6 (12.1)
Gain (loss) on equity securities 0.0 (39.6) 0.0 242.7
Other income 12.7 21.9 29.6 44.5
Other expense (4.4) (8.4) (10.9) (13.6)
Net other income (expense) 14.5 (27.9) 30.9 263.7
INTEREST EXPENSE        
Interest on long-term debt 52.9 39.5 101.0 78.9
Allowance for borrowed funds used during construction (1.3) (0.9) (3.4) (2.1)
Interest on short-term debt and other interest charges 6.1 3.8 7.9 5.7
Interest expense 57.7 42.4 105.5 82.5
INCOME BEFORE TAXES 103.2 86.3 148.3 420.9
INCOME TAX EXPENSE 14.8 13.2 21.6 68.3
NET INCOME $ 88.4 $ 73.1 $ 126.7 $ 352.6
BASIC AVERAGE COMMON SHARES OUTSTANDING 200.3 200.2 200.3 200.2
DILUTED AVERAGE COMMON SHARES OUTSTANDING 200.8 200.7 200.8 200.6
BASIC EARNINGS PER AVERAGE COMMON SHARE $ 0.44 $ 0.37 $ 0.63 $ 1.76
DILUTED EARNINGS PER AVERAGE COMMON SHARE $ 0.44 $ 0.36 $ 0.63 $ 1.76
Other comprehensive income, net of tax $ 0.5 $ 0.9    
Comprehensive income 88.9 74.0 $ 128.3 $ 361.3
OG&E [Member]        
Revenues from contracts with customers 589.2 791.0 1,133.8 1,369.1
Other revenues 15.8 12.7 28.4 23.9
Revenues, Total 605.0 803.7 1,162.2 1,393.0
FUEL, PURCHASED POWER AND DIRECT TRANSMISSION EXPENSE 181.8 393.3 382.4 649.0
OPERATING EXPENSES        
Other operation and maintenance 128.6 118.3 260.1 233.8
Depreciation and amortization 124.1 111.6 245.3 219.0
Taxes other than income 23.5 23.3 50.6 50.1
Operating expenses 276.2 253.2 556.0 502.9
OPERATING INCOME 147.0 157.2 223.8 241.1
OTHER INCOME (EXPENSE)        
Allowance for equity funds used during construction 5.1 0.9 9.6 2.2
Other net periodic benefit income (expense) 1.6 (1.8) 3.2 (3.2)
Other income 8.3 1.0 18.4 2.2
Other expense (1.8) (0.4) (2.7) (0.8)
Net other income (expense) 13.2 (0.3) 28.5 0.4
INTEREST EXPENSE        
Interest on long-term debt 51.6 38.6 98.1 77.1
Allowance for borrowed funds used during construction (1.3) (0.9) (3.4) (2.1)
Interest on short-term debt and other interest charges 1.8 2.1 3.1 3.0
Interest expense 52.1 39.8 97.8 78.0
INCOME BEFORE TAXES 108.1 117.1 154.5 163.5
INCOME TAX EXPENSE 16.2 16.4 22.8 23.8
NET INCOME 91.9 100.7 131.7 139.7
Other comprehensive income, net of tax 0.0 0.0 0.0 0.0
Comprehensive income $ 91.9 $ 100.7 $ 131.7 $ 139.7