Report of Business Segments

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Report of Business Segments

12.Report of Business Segments

OGE Energy reports its operations in two business segments: (i) the electric company segment, which is engaged in the generation, transmission, distribution and sale of electric energy and (ii) natural gas midstream operations segment. Prior to the Enable and Energy Transfer merger closing on December 2, 2021, OGE Energy's natural gas midstream operations segment included its equity method investment in Enable. For the period of December 2, 2021 to September 30, 2022, OGE Energy's natural gas midstream operations segment included OGE Energy's investment in Energy Transfer's equity securities acquired in the merger. For the year ended December 31, 2022, this segment also includes legacy Enable seconded employee pension and postretirement costs. Other operations primarily includes the operations of the holding company. 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 years ended December 31, 2022, 2021 and 2020.

2022	Electric Company		Natural Gas Midstream Operations			Other Operations			Eliminations			Total
(In millions)
Operating revenues	$	3,375.7	$	—		$	—		$	—		$	3,375.7
Fuel, purchased power and direct transmission expense		1,662.4		—			—			—			1,662.4
Other operation and maintenance		491.9		12.6			(3.1	)		—			501.4
Depreciation and amortization		460.9		—			—			—			460.9
Taxes other than income		98.0		0.1			3.4			—			101.5
Operating income (loss)		662.5		(12.7	)		(0.3	)		—			649.5
Gain on equity securities		—		282.1			—			—			282.1
Other income (expense)		11.2		10.0			4.9			(2.1	)		24.0
Interest expense		157.8		—			10.6			(2.1	)		166.3
Income tax expense (benefit)		76.4		48.1			(0.9	)		—			123.6
Net income (loss)	$	439.5	$	231.3		$	(5.1	)	$	—		$	665.7
Total assets	$	12,410.5	$	1.2		$	683.7		$	(550.7	)	$	12,544.7
Capital expenditures	$	1,050.9	$	—		$	—		$	—		$	1,050.9

2021	Electric Company		Natural Gas Midstream Operations			Other Operations			Eliminations			Total
(In millions)
Operating revenues	$	3,653.7	$	—		$	—		$	—		$	3,653.7
Fuel, purchased power and direct transmission expense		2,127.6		—			—			—			2,127.6
Other operation and maintenance		464.7		1.6			(3.2	)		—			463.1
Depreciation and amortization		416.0		—			—			—			416.0
Taxes other than income		99.3		0.2			3.3			—			102.8
Operating income (loss)		546.1		(1.8	)		(0.1	)		—			544.2
Equity in earnings of unconsolidated affiliates		—		169.8			—			—			169.8
Gain on Enable/Energy Transfer transaction, net		—		344.4			—			—			344.4
Other income (expense)		7.7		(26.4	)		(2.0	)		(0.9	)		(21.6	)
Interest expense		152.0		—			7.2			(0.9	)		158.3
Income tax expense (benefit)		41.8		101.0			(1.6	)		—			141.2
Net income (loss)	$	360.0	$	385.0		$	(7.7	)	$	—		$	737.3
Total assets	$	11,688.0	$	786.6		$	350.3		$	(218.5	)	$	12,606.4
Capital expenditures	$	778.5	$	—		$	—		$	—		$	778.5

2020	Electric Company		Natural Gas Midstream Operations			Other Operations			Eliminations			Total
(In millions)
Operating revenues	$	2,122.3	$	—		$	—		$	—		$	2,122.3
Fuel, purchased power and direct transmission expense		644.6		—			—			—			644.6
Other operation and maintenance		464.4		1.7			(3.3	)		—			462.8
Depreciation and amortization		391.3		—			—			—			391.3
Taxes other than income		97.2		0.4			3.8			—			101.4
Operating income (loss)		524.8		(2.1	)		(0.5	)		—			522.2
Equity in losses of unconsolidated affiliates (A)		—		(668.0	)		—			—			(668.0	)
Other income (expense)		4.1		(2.9	)		3.6			(1.6	)		3.2
Interest expense		154.8		—			5.3			(1.6	)		158.5
Income tax expense (benefit)		34.7		(158.0	)		(4.1	)		—			(127.4	)
Net income (loss)	$	339.4	$	(515.0	)	$	1.9		$	—		$	(173.7	)
Investment in unconsolidated affiliates	$	—	$	374.3		$	—		$	—		$	374.3
Total assets	$	10,489.0	$	378.1		$	116.4		$	(264.7	)	$	10,718.8
Capital expenditures	$	650.5	$	—		$	—		$	—		$	650.5

(A)In March 2020, OGE Energy recorded a $780.0 million impairment on its investment in Enable.