Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The items comprising income tax expense are as follows:

Year ended December 31 (In millions)	2011			2010			2009
Provision (Benefit) for Current Income Taxes
Federal	$	(6.4	)	$	15.8		$	(145.3	)
State	—			2.3			(4.8		)
Total Provision (Benefit) for Current Income Taxes	(6.4		)	18.1			(150.1		)
Provision for Deferred Income Taxes, net
Federal	160.3			134.5			256.7
State	2.9			9.3			8.1
Total Provision for Deferred Income Taxes, net	163.2			143.8			264.8
Deferred Federal Investment Tax Credits, net	(3.3		)	(3.7		)	(4.2		)
Income Taxes Relating to Other Income and Deductions	7.2			2.8			10.6
Total Income Tax Expense	$	160.7		$	161.0		$	121.1

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following schedule reconciles the statutory Federal tax rate to the effective income tax rate:

Year ended December 31	2011		2010		2009
Statutory Federal tax rate	35.0	%	35.0	%	35.0	%
Amortization of net unfunded deferred taxes	0.7		0.7		0.7
State income taxes, net of Federal income tax benefit	0.6		1.7		1.0
Medicare Part D subsidy	0.2		2.6		(1.1	)
Qualified production activities	—		(0.2	)	—
401(k) dividends	(0.5	)	(0.6	)	(0.7	)
Federal investment tax credits, net	(0.7	)	(0.8	)	(1.1	)
Income attributable to noncontrolling interest	(1.3	)	(0.4	)	—
Federal renewable energy credit (A)	(3.4	)	(3.4	)	(2.2	)
Other	0.1		0.3		0.1
Effective income tax rate	30.7	%	34.9	%	31.7	%

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

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The deferred tax provisions are recognized as costs in the ratemaking process by the commissions having jurisdiction over the rates charged by OG&E.  The components of Deferred Income Taxes at December 31, 2011 and 2010, respectively, were as follows: 

December 31 (In millions)	2011			2010
Current Deferred Income Tax Assets
Net operating losses	$	15.8		$	—
Accrued liabilities	13.2			8.2
Accrued vacation	4.2			6.1
Uncollectible accounts	1.4			0.6
Other	—			2.8
Total Current Deferred Income Tax Assets	34.6			17.7
Current Accrued Income Tax Liabilities
Derivative instruments	(2.5		)	1.0
Total Current Accrued Income Tax Liabilities	(2.5		)	1.0
Current Deferred Income Tax Assets, net	$	32.1		$	18.7
Non-Current Deferred Income Tax Liabilities
Accelerated depreciation and other property related differences	$	1,449.6		$	1,071.4
Investment in Enogex Holdings	571.8			376.1
Company pension plan	67.5			71.4
Regulatory asset	21.2			17.2
Income taxes refundable to customers, net	15.9			16.8
Bond redemption-unamortized costs	4.4			4.8
Derivative instruments	—			22.4
Total Non-Current Deferred Income Tax Liabilities	2,130.4			1,580.1
Non-Current Deferred Income Tax Assets
Net operating losses	(225.2		)	—
Regulatory liabilities	(65.3		)	(43.7		)
State tax credits	(63.0		)	(35.5		)
Postretirement medical and life insurance benefits	(50.2		)	(39.0		)
Federal tax credits	(49.7		)	(21.5		)
Derivative instruments	(12.8		)	—
Deferred Federal investment tax credits	(2.3		)	(3.6		)
Other	(10.5		)	(2.0		)
Total Non-Current Deferred Income Tax Assets	(479.0		)	(145.3		)
Non-Current Deferred Income Tax Liabilities, net	$	1,651.4		$	1,434.8

Summary of Tax Credit Carryforwards [Table Text Block]

The Company sustained Federal and state tax operating losses in 2010 and 2011 caused primarily by bonus depreciation and other book verses tax temporary differences. As a result, the Company accrued Federal and state income tax benefits in 2010 and 2011. The Company can no longer carry these losses back to prior periods, therefore, these losses are being carried forward. In addition to the operating losses, the Company was unable to utilize the various tax credits that were generating during these years. These tax losses and credits are being carried as deferred tax assets and will be utilized in future periods. The Company anticipates future taxable income will be sufficient to utilize all of the losses and credits before they begin to expire, accordingly no valuation allowance is considered necessary. The following table summarizes these carry forwards:

(In millions)	Carry Forward Amount		Deferred Tax Asset		Earliest Expiration Date
Net operating losses
State operating loss	$	772.9	$	28.4	2030
Federal operating loss	607.2		212.6		2030
Federal tax credits	49.7		49.7		2029
State tax credits
Oklahoma investment tax credits	76.3		49.7		N/A
Oklahoma capital investment board credits (A)	7.3		7.3		2015
Oklahoma zero emission tax credits	8.4		6.0		2020

(A) Oklahoma capital investment board credits may not be exercisable after July 1, 2015. The Company anticipates the credits will be monetized or the expiration date of these credits will be extended.

The Company expects that $45.0 million of the tax loss carry forward will be utilized in 2012 and, as a result, a current deferred tax asset of $15.8 million was recorded at December 31, 2011. The remaining $225.2 million was recorded as a non-current deferred tax asset and is expected to be realized in periods after 2012.