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Report of Business Segments (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2023 and 2022.


Three Months Ended September 30, 2023		Electric Company				Other Operations				Eliminations				Total
(In millions)
Operating revenues		$	945.4			$	—			$	—			$	945.4
Fuel, purchased power and direct transmission expense			333.8				—				—				333.8
Other operation and maintenance			123.3				(0.6	)			—				122.7
Depreciation and amortization			132.5				—				—				132.5
Taxes other than income			24.7				0.6				—				25.3
Operating income			331.1				—				—				331.1
Other income (expense)			7.8				(0.4	)			(0.8	)			6.6
Interest expense			51.0				7.2				(0.8	)			57.4
Income tax expense (benefit)			41.8				(3.4	)			—				38.4
Net income (loss)		$	246.1			$	(4.2	)		$	—			$	241.9
Total assets		$	12,610.6			$	312.2			$	(179.6	)		$	12,743.2


Three Months Ended September 30, 2022		Electric Company				Natural Gas Midstream Operations				Other Operations				Eliminations				Total
(In millions)
Operating revenues		$	1,270.8			$	—			$	—			$	—			$	1,270.8
Fuel, purchased power and direct transmission expense			673.8				—				—				—				673.8
Other operation and maintenance			121.5				10.5				(0.6	)			—				131.4
Depreciation and amortization			122.4				—				—				—				122.4
Taxes other than income			24.5				0.1				0.7				—				25.3
Operating income (loss)			328.6				(10.6	)			(0.1	)			—				317.9
Gain on equity securities			—				39.4				—				—				39.4
Other income (expense)			5.6				(7.8	)			2.6				(1.1	)			(0.7	)
Interest expense			40.2				—				3.1				(1.1	)			42.2
Income tax expense			40.9				4.9				5.8				—				51.6
Net income (loss)		$	253.1			$	16.1			$	(6.4	)		$	—			$	262.8
Total assets		$	12,233.8			$	1.3			$	933.9			$	(565.0	)		$	12,604.0


Nine Months Ended September 30, 2023		Electric Company				Other Operations				Eliminations				Total
(In millions)
Operating revenues		$	2,107.6			$	—			$	—			$	2,107.6
Fuel, purchased power and direct transmission expense			716.2				—				—				716.2
Other operation and maintenance			383.4				(2.0	)			—				381.4
Depreciation and amortization			377.8				—				—				377.8
Taxes other than income			75.3				2.9				—				78.2
Operating income (loss)			554.9				(0.9	)			—				554.0
Other income			36.3				8.5				(7.3	)			37.5
Interest expense			148.8				21.4				(7.3	)			162.9
Income tax expense (benefit)			64.6				(4.6	)			—				60.0
Net income (loss)		$	377.8			$	(9.2	)		$	—			$	368.6
Total assets		$	12,610.6			$	312.2			$	(179.6	)		$	12,743.2


Nine Months Ended September 30, 2022		Electric Company				Natural Gas Midstream Operations				Other Operations				Eliminations				Total
(In millions)
Operating revenues		$	2,663.8			$	—			$	—			$	—			$	2,663.8
Fuel, purchased power and direct transmission expense			1,322.8				—				—				—				1,322.8
Other operation and maintenance			355.3				11.7				(2.5	)			—				364.5
Depreciation and amortization			341.4				—				—				—				341.4
Taxes other than income			74.6				0.2				2.7				—				77.5
Operating income (loss)			569.7				(11.9	)			(0.2	)			—				557.6
Gain on equity securities			—				282.1				—				—				282.1
Other income			6.0				13.3				2.6				(1.6	)			20.3
Interest expense			118.2				—				8.1				(1.6	)			124.7
Income tax expense (benefit)			64.7				56.2				(1.0	)			—				119.9
Net income (loss)		$	392.8			$	227.3			$	(4.7	)		$	—			$	615.4
Total assets		$	12,233.8			$	1.3			$	933.9			$	(565.0	)		$	12,604.0