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Report of Business Segments
 3 Months Ended
Mar. 31, 2025
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 Registrants' chief operating decision maker uses net income as a measure of reportable segment profit or loss to make operating decisions, allocate resources, and assess performance. The following tables, which include significant segment expenses, present the results of OGE Energy's business segments for the three months ended March 31, 2025 and 2024.

Three Months Ended March 31, 2025

 

Electric Company

 

 

Other
Operations

 

 

Eliminations

 

 

Total

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

747.7

 

 

$

—

 

 

$

—

 

 

$

747.7

 

Fuel, purchased power and direct transmission expense

 

 

324.0

 

 

 

—

 

 

 

—

 

 

 

324.0

 

Other operation and maintenance

 

 

121.8

 

 

 

—

 

 

 

—

 

 

 

121.8

 

Depreciation and amortization

 

 

137.4

 

 

 

—

 

 

 

—

 

 

 

137.4

 

Taxes other than income

 

 

31.2

 

 

 

—

 

 

 

—

 

 

 

31.2

 

Operating income

 

 

133.3

 

 

 

—

 

 

 

—

 

 

 

133.3

 

Other income

 

 

8.9

 

 

 

1.2

 

 

 

(3.2

)

 

 

6.9

 

Interest expense

 

 

56.8

 

 

 

13.7

 

 

 

(3.2

)

 

 

67.3

 

Income tax expense (benefit)

 

 

14.4

 

 

 

(4.2

)

 

 

—

 

 

 

10.2

 

Net income (loss)

 

$

71.0

 

 

$

(8.3

)

 

$

—

 

 

$

62.7

 

Total assets

 

$

13,810.4

 

 

$

582.6

 

 

$

(439.8

)

 

$

13,953.2

 

Capital expenditures

 

$

249.5

 

 

$

—

 

 

$

—

 

 

$

249.5

 

 

Three Months Ended March 31, 2024

 

Electric Company

 

 

Other
Operations

 

 

Eliminations

 

 

Total

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

596.8

 

 

$

—

 

 

$

—

 

 

$

596.8

 

Fuel, purchased power and direct transmission expense

 

 

232.2

 

 

 

—

 

 

 

—

 

 

 

232.2

 

Other operation and maintenance

 

 

132.4

 

 

 

—

 

 

 

—

 

 

 

132.4

 

Depreciation and amortization

 

 

129.2

 

 

 

—

 

 

 

—

 

 

 

129.2

 

Taxes other than income

 

 

29.0

 

 

 

—

 

 

 

—

 

 

 

29.0

 

Operating income

 

 

74.0

 

 

 

—

 

 

 

—

 

 

 

74.0

 

Other income

 

 

6.6

 

 

 

1.5

 

 

 

(1.7

)

 

 

6.4

 

Interest expense

 

 

51.4

 

 

 

10.5

 

 

 

(1.7

)

 

 

60.2

 

Income tax expense (benefit)

 

 

4.0

 

 

 

(2.4

)

 

 

—

 

 

 

1.6

 

Net income (loss)

 

$

25.2

 

 

$

(6.6

)

 

$

—

 

 

$

18.6

 

Total assets

 

$

12,771.1

 

 

$

375.1

 

 

$

(228.2

)

 

$

12,918.0

 

Capital expenditures

 

$

226.9

 

 

$

—

 

 

$

—

 

 

$

226.9