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Report of Business Segments
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Report of Business Segments

11. Report of Business Segments

 

OGE Energy reports its operations primarily through a single segment, captioned "electric company," which is engaged in the generation, transmission, distribution and sale of electric energy. The "other operations" caption primarily includes the operations of the holding company and other energy-related investments. Intersegment revenues are recorded at prices comparable to those of unaffiliated customers and are affected by regulatory considerations. The following tables present the results of OGE Energy's business segments for the three and nine months ended September 30, 2024 and 2023.

Three Months Ended September 30, 2024

 

Electric Company

 

 

Other
Operations

 

 

Eliminations

 

 

Total

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

965.4

 

 

$

—

 

 

$

—

 

 

$

965.4

 

Fuel, purchased power and direct transmission expense

 

 

350.1

 

 

 

—

 

 

 

—

 

 

 

350.1

 

Other operation and maintenance

 

 

131.4

 

 

 

—

 

 

 

—

 

 

 

131.4

 

Depreciation and amortization

 

 

144.0

 

 

 

—

 

 

 

—

 

 

 

144.0

 

Taxes other than income

 

 

26.7

 

 

 

—

 

 

 

—

 

 

 

26.7

 

Operating income

 

 

313.2

 

 

 

—

 

 

 

—

 

 

 

313.2

 

Other income

 

 

11.6

 

 

 

—

 

 

 

(0.9

)

 

 

10.7

 

Interest expense

 

 

54.1

 

 

 

11.0

 

 

 

(0.9

)

 

 

64.2

 

Income tax expense (benefit)

 

 

45.7

 

 

 

(4.7

)

 

 

—

 

 

 

41.0

 

Net income (loss)

 

$

225.0

 

 

$

(6.3

)

 

$

—

 

 

$

218.7

 

Total assets

 

$

13,360.5

 

 

$

134.7

 

 

$

(19.4

)

 

$

13,475.8

 

 

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

 

 

 

Nine Months Ended September 30, 2024

 

Electric Company

 

 

Other
Operations

 

 

Eliminations

 

 

Total

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

2,224.8

 

 

$

—

 

 

$

—

 

 

$

2,224.8

 

Fuel, purchased power and direct transmission expense

 

 

776.2

 

 

 

—

 

 

 

—

 

 

 

776.2

 

Other operation and maintenance

 

 

394.0

 

 

 

0.2

 

 

 

—

 

 

 

394.2

 

Depreciation and amortization

 

 

408.7

 

 

 

—

 

 

 

—

 

 

 

408.7

 

Taxes other than income

 

 

82.6

 

 

 

—

 

 

 

—

 

 

 

82.6

 

Operating income (loss)

 

 

563.3

 

 

 

(0.2

)

 

 

—

 

 

 

563.1

 

Other income

 

 

28.4

 

 

 

3.2

 

 

 

(4.0

)

 

 

27.6

 

Interest expense

 

 

160.4

 

 

 

32.9

 

 

 

(4.0

)

 

 

189.3

 

Income tax expense (benefit)

 

 

71.8

 

 

 

(10.0

)

 

 

—

 

 

 

61.8

 

Net income (loss)

 

$

359.5

 

 

$

(19.9

)

 

$

—

 

 

$

339.6

 

Total assets

 

$

13,360.5

 

 

$

134.7

 

 

$

(19.4

)

 

$

13,475.8

 

 

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