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Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of Financial Statement Information of Lease Liabilities

The following tables present amounts recognized for operating leases in the Registrants' statements of income, statements of cash flows and balance sheets and supplemental information related to those amounts recognized.

 

OGE Energy

 

 

OG&E

 

 

Year Ended December 31,

 

 

Year Ended December 31,

 

(In millions)

 

2023

 

 

2022

 

 

2021

 

 

2023

 

 

2022

 

 

2021

 

Operating lease cost

 

$

6.4

 

 

$

5.9

 

 

$

6.3

 

 

$

6.4

 

 

$

5.9

 

 

$

5.7

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash flows for operating leases

 

$

5.2

 

 

$

5.3

 

 

$

6.3

 

 

$

5.2

 

 

$

5.3

 

 

$

5.7

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

 

 

$

1.5

 

 

$

 

 

$

 

 

$

1.5

 

 

$

 

 

OGE Energy

 

 

OG&E

 

(Dollars in millions)

December 31, 2023

 

December 31, 2022

 

 

December 31, 2023

 

December 31, 2022

 

Right-of-use assets at period end (A)

$

25.9

 

$

30.2

 

 

$

25.9

 

$

30.2

 

Operating lease liabilities at period end (B)

$

30.5

 

$

34.8

 

 

$

30.5

 

$

34.8

 

Operating lease weighted-average remaining lease term (in years)

 

11.4

 

 

11.6

 

 

 

11.4

 

 

11.6

 

Operating lease weighted-average discount rate

 

4.0

%

 

4.0

%

 

 

4.0

%

 

4.0

%

(A)
Included in Property, Plant and Equipment in the Registrants' balance sheets.
(B)
Included in Other Deferred Credits and Other Liabilities in the Registrants' balance sheets.
Schedule of Maturity Analysis of Operating Lease Liabilities

The following table presents a maturity analysis of the Registrants' operating lease liabilities.

Future minimum operating lease payments as of December 31:

 

OGE Energy

 

 

OG&E

 

(In millions)

 

 

 

 

 

 

2024

 

$

3.7

 

 

$

3.7

 

2025

 

 

3.5

 

 

 

3.5

 

2026

 

 

3.0

 

 

 

3.0

 

2027

 

 

3.0

 

 

 

3.0

 

2028

 

 

3.1

 

 

 

3.1

 

Thereafter

 

 

22.6

 

 

 

22.6

 

Total future minimum lease payments

 

 

38.9

 

 

 

38.9

 

Less: Imputed interest

 

 

8.4

 

 

 

8.4

 

Present value of net minimum lease payments

 

$

30.5

 

 

$

30.5