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Common Equity | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Common Equity | 7. Common Equity Automatic Dividend Reinvestment and Stock Purchase Plan OGE Energy issued 319,421 and 324,321 new shares of common stock under its Automatic Dividend Reinvestment and Stock Purchase Plan during the three and six months ended June 30, 2024 and received proceeds of $10.8 million and $11.0 million, respectively. OGE Energy may, from time to time, issue additional shares under its Automatic Dividend Reinvestment and Stock Purchase Plan to fund capital requirements or working capital needs. As of June 30, 2024, there were 4,477,823 shares of unissued common stock reserved for issuance under OGE Energy's Automatic Dividend Reinvestment and Stock Purchase Plan. Earnings Per Share Basic earnings per share is calculated by dividing net income attributable to OGE Energy by the weighted-average number of OGE Energy's common shares outstanding during the period. In the calculation of diluted earnings per share, weighted-average shares outstanding are increased for additional shares that would be outstanding if potentially dilutive securities were converted to common stock. Potentially dilutive securities for OGE Energy consist of performance units and restricted stock units. The following table presents the calculation of basic and diluted earnings per share for OGE Energy.
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(In millions, except per share data) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net income |  | $ | 102.3 |  |  | $ | 88.4 |  |  | $ | 120.9 |  |  | $ | 126.7 |
Average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Basic average common shares outstanding |  |  | 200.8 |  |  |  | 200.3 |  |  |  | 200.6 |  |  |  | 200.3 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Contingently issuable shares (performance and restricted stock units) |  |  | 0.6 |  |  |  | 0.5 |  |  |  | 0.4 |  |  |  | 0.5 |
Diluted average common shares outstanding |  |  | 201.4 |  |  |  | 200.8 |  |  |  | 201.0 |  |  |  | 200.8 |
Basic earnings per average common share |  | $ | 0.51 |  |  | $ | 0.44 |  |  | $ | 0.60 |  |  | $ | 0.63 |
Diluted earnings per average common share |  | $ | 0.51 |  |  | $ | 0.44 |  |  | $ | 0.60 |  |  | $ | 0.63 |
Anti-dilutive shares excluded from earnings per share calculation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |

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- Definition Disclosures related to earnings per share and current quarter activities in the automatic dividend reinvestment and stock purchase plan. + References No definition available. + Details
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