Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The following table presents the components of income tax expense (benefit).

	OGE Energy									OG&E
Year Ended December 31 (In millions)	2023			2022			2021			2023			2022			2021
Provision (benefit) for current income taxes:
Federal	$	46.1		$	250.8		$	16.4		$	48.9		$	(141.2	)	$	(9.0	)
State		(2.2	)		28.8			1.7			3.7			(0.9	)		9.0
Total provision (benefit) for current income taxes		43.9			279.6			18.1			52.6			(142.1	)		—
Provision (benefit) for deferred income taxes, net:
Federal		18.1			(110.8	)		133.1			18.8			219.9			58.3
State		(5.8	)		(45.2	)		(10.0	)		(2.6	)		(1.4	)		(16.5	)
Total provision (benefit) for deferred income taxes, net		12.3			(156.0	)		123.1			16.2			218.5			41.8
Total income tax expense	$	56.2		$	123.6		$	141.2		$	68.8		$	76.4		$	41.8

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of the statutory tax rates to the effective income tax rate.

	OGE Energy									OG&E
Year Ended December 31	2023			2022			2021			2023			2022			2021
Statutory federal tax rate		21.0	%		21.0	%		21.0	%		21.0	%		21.0	%		21.0	%
State income taxes, net of federal income tax benefit		(1.3	)		(1.0	)		0.9			0.3			(0.4	)		(1.4	)
Stock-based compensation		0.1			—			0.1			—			—			—
Executive compensation limitation		0.2			0.1			0.1			—			—			—
Amortization of net unfunded deferred taxes		(7.0	)		(3.2	)		(2.1	)		(6.7	)		(5.0	)		(4.6	)
Federal renewable energy credit (A)		—			—			(2.0	)		—			—			(4.4	)
Remeasurement of state deferred taxes due to Energy Transfer merger		—			—			(1.1	)		—			—			—
Remeasurement of state deferred tax liabilities		—			(0.6	)		(0.6	)		—			—			—
401(k) dividends		(0.3	)		(0.2	)		(0.2	)		—			—			—
Other		(0.8	)		(0.4	)		—			(0.7	)		(0.8	)		(0.2	)
Effective income tax rate		11.9	%		15.7	%		16.1	%		13.9	%		14.8	%		10.4	%

(A)Represents credits primarily associated with the production from OG&E's wind farms.

Schedule of Deferred Tax Assets and Liabilities

The following table presents the components of Deferred Income Taxes at December 31, 2023 and 2022.

	OGE Energy						OG&E
December 31 (In millions)	2023			2022			2023			2022
Deferred income tax liabilities, net:
Accelerated depreciation and other property related differences	$	1,753.8		$	1,714.5		$	1,753.8		$	1,714.5
Regulatory assets		67.6			54.8			67.6			54.7
Pension Plan		21.8			18.0			37.9			35.4
Corporate owned life insurance		2.6			2.4			—			—
Bond redemption-unamortized costs		1.4			1.6			1.4			1.6
Income taxes recoverable from customers, net		(202.7	)		(216.7	)		(202.7	)		(216.7	)
State tax credits		(228.8	)		(221.2	)		(213.5	)		(208.5	)
Regulatory liabilities		(54.4	)		(60.8	)		(54.4	)		(60.8	)
Asset retirement obligations		(19.7	)		(18.8	)		(19.7	)		(18.8	)
Postretirement medical and life insurance benefits		(20.8	)		(19.2	)		(14.0	)		(12.7	)
Accrued liabilities		(13.2	)		(11.2	)		(5.5	)		(7.3	)
Deferred federal investment tax credits		(2.7	)		(2.9	)		(2.7	)		(2.9	)
Accrued vacation		(1.4	)		(1.4	)		(1.4	)		(1.1	)
Uncollectible accounts		(0.5	)		(0.5	)		(0.4	)		(0.5	)
Other		(2.2	)		(5.1	)		(5.6	)		(5.8	)
Total deferred income tax liabilities, net	$	1,300.8		$	1,233.5		$	1,340.8		$	1,271.1

Schedule of Unrecognized Tax Benefits Roll Forward

The following table presents a reconciliation of the Registrants' total gross unrecognized tax benefits as of the years ended December 31, 2023, 2022 and 2021.

(In millions)	2023		2022			2021
Balance at January 1	$	20.7	$	22.4		$	21.9
Tax positions related to current year:
Additions		7.9		—			1.7
Reductions		—		(1.7	)		(1.2	)
Balance at December 31	$	28.6	$	20.7		$	22.4

Summary of Tax Credit Carryforwards

The following table presents a summary of the Registrants' tax credits carried forward as deferred tax assets. Under current law, the Registrants expect future taxable income will be sufficient to utilize all credits before they begin to expire after 2028.

	OGE Energy				OG&E
(In millions)	Carry Forward Amount		Deferred Tax Asset		Carry Forward Amount		Deferred Tax Asset		Earliest Expiration Date
State tax credits:
Oklahoma investment tax credits	$	259.1	$	204.7	$	239.8	$	189.4	N/A
Oklahoma capital investment board credits	$	12.8	$	12.8	$	12.8	$	12.8	N/A
Oklahoma zero emission tax credits	$	16.0	$	11.3	$	16.0	$	11.3	2028

N/A - not applicable