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Credit Facilities and Short-Term Debt | 9 Months Ended
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Sep. 30, 2024
Short-Term Debt [Abstract] |
Credit Facilities and Short-Term Debt | 9. Credit Facilities and Short-Term Debt The Registrants borrow, as necessary, by the issuance of commercial paper and by borrowings under their revolving credit agreements. The following table presents information regarding the Registrants' revolving credit agreements at September 30, 2024.
Entity |  | Aggregate Commitment |  |  | Amount Outstanding (A) |  |  | Weighted-Average Interest Rate |  |  |  |  | Expiration
|  | (In millions) |  |  |  |  |  |  |  |
OGE Energy (B) |  | $ | 550.0 |  |  | $ | 215.2 |  |  |  | 5.01 | % |  | (F) |  | December 18, 2028
OGE Energy (C) |  |  | 60.0 |  |  |  | — |  |  |  | — | % |  | (F) |  | May 24, 2027
OG&E (D)(E) |  |  | 550.0 |  |  |  | 0.4 |  |  |  | 1.20 | % |  | (F) |  | December 18, 2028
Total |  | $ | 1,160.0 |  |  | $ | 215.6 |  |  |  | 5.01 | % |  |  |  |
(A) Includes direct borrowings under the revolving credit agreements, commercial paper borrowings and letters of credit at September 30, 2024. (B) This bank facility is available to back up OGE Energy's commercial paper borrowings and to provide revolving credit borrowings. This bank facility can also be used as a letter of credit facility. (C) OGE Energy has a $120.0 million floating rate unsecured three-year credit agreement, of which $60.0 million is considered a revolving loan, which is included in the table above, and $60.0 million is considered a term loan. The credit agreement, under certain circumstances, may be increased to a maximum commitment limit of $155.0 million and includes a maximum leverage ratio of 0.70 to 1.0. The other covenants under this credit agreement are substantially the same as OGE Energy's existing $550.0 million revolving credit agreement. (D) This bank facility is available to back up OG&E's commercial paper borrowings and to provide revolving credit borrowings. This bank facility can also be used as a letter of credit facility. (E) OG&E has an intercompany borrowing agreement with OGE Energy whereby OG&E has access to up to $450.0 million of OGE Energy's revolving credit amount. This agreement has a termination date of December 18, 2028. At September 30, 2024, there were no intercompany borrowings under this agreement. (F) Represents the weighted-average interest rate for the outstanding borrowings under the revolving credit agreements, commercial paper borrowings and letters of credit. The Registrants' ability to access the commercial paper market could be adversely impacted by a credit ratings downgrade or major market disruptions. Pricing grids associated with the Registrants' credit facilities could cause annual fees and borrowing rates to increase if an adverse rating impact occurs. The impact of any future downgrade could include an increase in the costs of the Registrants' short-term borrowings, but a reduction in the Registrants' credit ratings would not result in any defaults or accelerations. Any future downgrade could also lead to higher long-term borrowing costs and, if below investment grade, would require the Registrants to post collateral or letters of credit. OG&E must obtain regulatory approval from the FERC in order to borrow on a short-term basis. OG&E has the necessary regulatory approvals to incur up to $1.0 billion in short-term borrowings at any one time for a two-year period beginning January 1, 2023 and ending December 31, 2024. OG&E has requested renewal of this authority for an additional two-year period and expects to receive approval prior to the expiration of its current authority.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
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