Report of Business Segments

6 Months Ended

Jun. 30, 2024

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 following tables present the results of OGE Energy's business segments for the three and six months ended June 30, 2024 and 2023.

Three Months Ended June 30, 2024	Electric Company		Other Operations			Eliminations			Total
(In millions)
Operating revenues	$	662.6	$	—		$	—		$	662.6
Fuel, purchased power and direct transmission expense		193.9		—			—			193.9
Other operation and maintenance		130.2		0.2			—			130.4
Depreciation and amortization		135.5		—			—			135.5
Taxes other than income		26.9		—			—			26.9
Operating income (loss)		176.1		(0.2	)		—			175.9
Other income		10.2		1.7			(1.4	)		10.5
Interest expense		54.9		11.4			(1.4	)		64.9
Income tax expense (benefit)		22.1		(2.9	)		—			19.2
Net income (loss)	$	109.3	$	(7.0	)	$	—		$	102.3
Total assets	$	13,073.1	$	323.5		$	(184.8	)	$	13,211.8

Three Months Ended June 30, 2023	Electric Company		Other Operations			Eliminations			Total
(In millions)
Operating revenues	$	605.0	$	—		$	—		$	605.0
Fuel, purchased power and direct transmission expense		181.8		—			—			181.8
Other operation and maintenance		128.6		(0.3	)		—			128.3
Depreciation and amortization		124.1		—			—			124.1
Taxes other than income		23.5		0.9			—			24.4
Operating income (loss)		147.0		(0.6	)		—			146.4
Other income		13.2		4.4			(3.1	)		14.5
Interest expense		52.1		8.7			(3.1	)		57.7
Income tax expense (benefit)		16.2		(1.4	)		—			14.8
Net income (loss)	$	91.9	$	(3.5	)	$	—		$	88.4
Total assets	$	12,492.9	$	686.8		$	(575.1	)	$	12,604.6

Six Months Ended June 30, 2024	Electric Company		Other Operations			Eliminations			Total
(In millions)
Operating revenues	$	1,259.4	$	—		$	—		$	1,259.4
Fuel, purchased power and direct transmission expense		426.1		—			—			426.1
Other operation and maintenance		262.6		0.2			—			262.8
Depreciation and amortization		264.7		—			—			264.7
Taxes other than income		55.9		—			—			55.9
Operating income (loss)		250.1		(0.2	)		—			249.9
Other income		16.8		3.2			(3.1	)		16.9
Interest expense		106.3		21.9			(3.1	)		125.1
Income tax expense (benefit)		26.1		(5.3	)		—			20.8
Net income (loss)	$	134.5	$	(13.6	)	$	—		$	120.9
Total assets	$	13,073.1	$	323.5		$	(184.8	)	$	13,211.8

Six Months Ended June 30, 2023	Electric Company		Other Operations			Eliminations			Total
(In millions)
Operating revenues	$	1,162.2	$	—		$	—		$	1,162.2
Fuel, purchased power and direct transmission expense		382.4		—			—			382.4
Other operation and maintenance		260.1		(1.4	)		—			258.7
Depreciation and amortization		245.3		—			—			245.3
Taxes other than income		50.6		2.3			—			52.9
Operating income (loss)		223.8		(0.9	)		—			222.9
Other income		28.5		8.9			(6.5	)		30.9
Interest expense		97.8		14.2			(6.5	)		105.5
Income tax expense (benefit)		22.8		(1.2	)		—			21.6
Net income (loss)	$	131.7	$	(5.0	)	$	—		$	126.7
Total assets	$	12,492.9	$	686.8		$	(575.1	)	$	12,604.6