Report of Business Segments

3 Months Ended

Mar. 31, 2023

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. During 2022, OGE Energy held an investment in Energy Transfer's equity securities and reported the investment's activity, as well as Enable legacy pension and postretirement costs, through the natural gas midstream operations segment. As of the end of September 2022, OGE Energy had sold all of Energy Transfer's limited partner units; therefore, beginning in 2023, OGE Energy no longer has a natural gas midstream operations segment. The following tables present the results of OGE Energy's business segments for the three months ended March 31, 2023 and 2022.

Three Months Ended March 31, 2023	Electric Company		Other Operations			Eliminations			Total
(In millions)
Operating revenues	$	557.2	$	—		$	—		$	557.2
Fuel, purchased power and direct transmission expense		200.6		—			—			200.6
Other operation and maintenance		131.5		(1.1	)		—			130.4
Depreciation and amortization		121.2		—			—			121.2
Taxes other than income		27.1		1.4			—			28.5
Operating income (loss)		76.8		(0.3	)		—			76.5
Other income (expense)		15.3		4.5			(3.4	)		16.4
Interest expense		45.7		5.5			(3.4	)		47.8
Income tax expense		6.6		0.2			—			6.8
Net income (loss)	$	39.8	$	(1.5	)	$	—		$	38.3
Total assets	$	12,762.7	$	587.1		$	(559.5	)	$	12,790.3

Three Months Ended March 31, 2022	Electric Company		Natural Gas Midstream Operations			Other Operations			Eliminations			Total
(In millions)
Operating revenues	$	589.3	$	—		$	—		$	—		$	589.3
Fuel, purchased power and direct transmission expense		255.7		—			—			—			255.7
Other operation and maintenance		115.5		0.7			(1.2	)		—			115.0
Depreciation and amortization		107.4		—			—			—			107.4
Taxes other than income		26.8		—			1.3			—			28.1
Operating income (loss)		83.9		(0.7	)		(0.1	)		—			83.1
Gain on equity securities		—		282.3			—			—			282.3
Other income (expense)		0.7		8.7			—			(0.1	)		9.3
Interest expense		38.2		—			2.0			(0.1	)		40.1
Income tax expense		7.4		60.2			(12.5	)		—			55.1
Net income	$	39.0	$	230.1		$	10.4		$	—		$	279.5
Total assets	$	11,898.8	$	1,068.8		$	320.9		$	(194.9	)	$	13,093.6